STRC
Generally safe
High confidence
Preferred Stock Comparison
STRC vs STRF: Perpetual Strife, or Variable-Rate Stretch?
A head-to-head of Perpetual Strife Preferred Stock and Strategy Variable Rate Series A Stretch covering coupon design, not headline yield.
Updated November 6, 2026
How these figures are calculated: methodology.
Best for
- STRCInvestors who want the steadier, bond-like income of a preferred security.
- STRFInvestors who want the steadier, bond-like income of a preferred security.
Price and total return
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Distribution Safety Score
An estimate of distribution reliability, not price or principal safety, a probability, or a guarantee. Score methodology.
STRF
Unproven
Limited data
Score snapshot as of . Method 1.11.
Side-by-side snapshot
| Metric |  STRC | STRF |
|---|---|---|
| Full name | Strategy Variable Rate Series A Perpetual Stretch Preferred Stock | Perpetual Strife Preferred Stock |
| Issuer | Strategy Inc. | Strategy Inc. |
| Last Close | $99.84 as of November 6, 2026 | $103.20 as of November 6, 2026 |
| Distribution rate | 0.96% | 9.69% |
| Trailing 12-month yield | 12.16% | 9.69% |
| Distribution Safety Score™ | 79 | 41 |
| Safety-Adjusted Yield | 0.76% | — |
| 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% fixed coupon through MicroStrategy's most senior preferred equity structure. |
| Asset class | Equity | Equity |
| Inception date | N/A | N/A |
| Last dividend | $0.04 declared, pays 11/10/2026 | $2.50 |
| Ex-dividend date | 11/09/2026 upcoming | 09/15/2026 |
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
STRC has outpaced STRF over the trailing twelve months, posting a 12.15% total return against 2.27%. Measured from Jul 2025 — the start of shared available history — STRC has compounded at 16.80% a year versus -1.80% for STRF. Figures are total returns: price change plus every distribution reinvested.
| Symbol | YTD cumulative | 1Y cumulative | Since Jul 2025 | Volatility | Sharpe | Sortino | Max drawdown |
|---|---|---|---|---|---|---|---|
| STRC | 11.51% | 12.15% | 16.80% | 22.2% | 0.33 | 0.49 | -24.3% |
| STRF | 8.99% | 2.27% | -1.80% | 23.8% | -0.08 | -0.11 | -17.9% |
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of November 5, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Jul 2025” measures every fund from July 30, 2025 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Visual comparison
Key metrics
Projected income on $10K
Projections assume the current yield and share price remain constant. Actual results will vary.
Bottom lineSTRC and STRF both offer very similar fixed income exposure, so strategy isn't the deciding factor here. Weigh the holdings, track record and tax treatment in the sections above.
Variable-rate Stretch versus perpetual Strife
Both are Strategy preferreds. Coupon design — variable-rate Stretch versus perpetual Strife — is the live comparison.
| STRC | STRF | |
|---|---|---|
| Coupon | Variable-rate Stretch preferred | Perpetual Strife preferred |
| Distribution rate | 0.96% | 9.69% |
| Security | Preferred stock | Preferred stock |
Income calculator
See how much monthly income a hypothetical investment would generate in each preferred stock at current yields.
Quick verdict
STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) and STRF (Perpetual Strife Preferred Stock) are both dividend-paying preferred stocks, but they take different approaches.
STRC's latest distribution annualizes to 0.96%, but it has paid 12.16% over the trailing 12 months (its frequent payouts vary from one to the next). With STRC's two yield figures this far apart, neither settles which fund pays more. Compare the distribution rate and trailing 12-month yield rows in the snapshot below.
Deep dive
Yield & income
On a $10,000 investment at current distribution rates, STRC would pay about $96.00 a year (about $4.00 per semi-monthly distribution), while STRF would pay about $969.00 a year (about $242.25 per quarterly distribution).
STRC yield0.96%
STRF yield9.69%
Strategy & risk
Both STRC and STRF 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. STRF (Perpetual Strife Preferred Stock) is a preferred stock.
Frequently asked questions
What is the difference between STRC and STRF?
STRC (Strategy Variable Rate Series A Perpetual Stretch Preferred Stock) is Strategy's variable-rate Stretch preferred. STRF (Perpetual Strife Preferred Stock) is the perpetual Strife preferred. Coupon design, not a one-date yield, is the live difference. Distributions are 0.96% and 9.69% as of November 2026. Preferreds are credit-and-call products; treat the coupon as the comparison, not a fund expense-ratio race.
What is the current distribution rate for STRC and STRF?
STRC's latest distribution annualizes to 0.96%, and it has paid 12.16% over the past 12 months; STRF currently distributes 9.69%, based on fund data updated November 2026. Because the two measures disagree for at least one fund, compare both rows in the snapshot and check the as-of date before relying on either figure.
Is STRC or STRF better for dividend income?
It depends on your goals. STRC's latest distribution annualizes to 0.96%, but it has paid 12.16% over the trailing 12 months (its frequent payouts vary from one to the next). With STRC's two yield figures this far apart, neither settles which fund pays more. Compare the distribution rate and trailing 12-month yield rows in the snapshot below. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
Can I hold both STRC and STRF?
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.
Is STRC or STRF safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — STRC scores 79, STRF scores 41, so STRC's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.
How much income does $10,000 in STRC vs STRF generate?
At current distribution rates, $10,000 in STRC would pay about $96.00 a year (about $4.00 per semi-monthly distribution). $10,000 in STRF would pay about $969.00 a year (about $242.25 per quarterly distribution).
Which has performed better historically, STRC or STRF?
STRC has outpaced STRF over the trailing twelve months, posting a 12.15% total return against 2.27%. Measured from Jul 2025 — the start of shared available history — STRC has compounded at 16.80% a year versus -1.80% for STRF. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
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Learn the method
The metrics behind this comparison, explained in the Academy.
These comparisons follow the Dividend Vision methodology.