Well... Everything is not that easy. Actually you need to run defrag sequence THREE times on different environments:
1) StarWind images residing server. StarWind uses either flat images or allocated disk space with a huge chunks so defragmentation is minimal and it's impact to performance is close to being missing. But you'd better do it at least a couple of times per year.
2) Hyper-V machine. Hyper-V has absolutely crazy VHD file I/O access pattern (unlike VMware ESX) so VHD files keeping VM content could be extremely fragmented. Especially when you have heavy load, lots of VMs, not that much disk free space and Hyper-V cluster. So run defrag on regular basis here.
3) VM itself. NTFS inside virtual machine (or whatever FS you have created with OS you use) also gets fragmented. So you need to run defrag inside VM just like it would be your physical server. Application and load dependent so you should know your schedule better.
That's it
