Preferred Stock Comparison
STRC vs STRD: Which Is the Better Pick in 2026?
A head-to-head comparison of Strategy Variable Rate Series A Perpetual Stretch Preferred Stock and Perpetual Stride Preferred Stock covering yield, cost, risk, and income potential.
Data updated July 15, 2026
Side-by-side snapshot
| STRC | STRD | |
|---|---|---|
| Full name | Strategy Variable Rate Series A Perpetual Stretch Preferred Stock | Perpetual Stride Preferred Stock |
| Issuer | Strategy | Strategy |
| Last Close | $88.21 as of July 15, 2026 | $60.46 as of July 15, 2026 |
| Distribution yield | 13.21% | 16.65% |
| Distribution Safety Score | 79 | 63 |
| Expense ratio | — | — |
| AUM | — | — |
| Distribution frequency | Semi-Monthly | Quarterly |
| Underlying index | Preferred equity security issued by MicroStrategy Incorporated. | Preferred equity security issued by MicroStrategy Incorporated. |
| Objective | Stretch (STRC) is Strategy’s perpetual preferred stock that pays a variable cash dividend twice a month (semi-monthly) — most recently $0.50 per share per payment, an annualized rate of about 12% on its $100 par value. STRC’s dividend rate is reset each month to encourage trading around STRC’s $100 par value and to help strip away price volatility. | Provide investors with a 10% non-cumulative fixed dividend through MicroStrategy's junior preferred equity structure. |
| Asset class | Equity | Equity |
| Inception date | N/A | N/A |
| Last dividend | $0.5000 | $2.5000 |
| Ex-dividend date | 07/31/2026 | 06/15/2026 |
Bottom lineChoose STRC if you want the steadier, bond-like income of a preferred security. Choose STRD if you want higher current income (16.65% vs 13.21% for STRC).
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Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) and STRD (Perpetual Stride Preferred Stock) are both dividend-paying preferred stocks, but they take different approaches.
STRD offers the higher yield at 16.65% vs 13.21% for STRC. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
Deep dive
Yield & income
On a $10,000 investment, STRC would generate roughly $110.08/month, while STRD would produce $138.75/month, at current distribution rates.
Strategy & risk
Both STRC and STRD wrap Preferred equity security issued by MicroStrategy Incorporated. with similar strategies (bitcoin and bitcoin). The practical differences are yield target, fee structure, and issuer track record — not the underlying mechanic.
Security details
STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) is a preferred stock. STRD (Perpetual Stride Preferred Stock) is a preferred stock.
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Frequently asked questions
Is STRC or STRD better for dividend income?
It depends on your goals. STRD currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between STRC and STRD?
Both STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) and STRD (Perpetual Stride Preferred Stock) track Preferred equity security issued by MicroStrategy Incorporated. with similar approaches — the labels "bitcoin" and "bitcoin" describe closely related mechanics. The real differences show up in yield target (13.21% vs 16.65%), expense ratio (— vs —), and issuer (Strategy vs Strategy).
Can I hold both STRC and STRD?
You can, but expect significant overlap. Both funds use similar strategies on Preferred equity security issued by MicroStrategy Incorporated., so holding them together gives you two wrappers around effectively the same exposure — not true diversification. Weigh issuer, fee, and yield differences rather than treating them as complementary.
How much income does $10,000 in STRC vs STRD generate?
At current rates, $10,000 in STRC would generate roughly $110.08 per month ($1,321.00 annually). The same in STRD would produce about $138.75 per month ($1,665.00 annually).
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