Preheat the oven to 350°F and in a medium bowl, mix sugar, milk, oil, egg, and vanilla until well combined.
In a separate bowl, whisk together flour, baking powder, and salt.
Gradually add the dry ingredients to the wet mixture, stirring gently until just incorporated.
Carefully fold in the strawberries and rhubarb, ensuring even distribution without overmixing.
Grease and flour a 9"x5" loaf pan, then pour in the batter, spreading it evenly.
In a small bowl, prepare the crumble by combining flour, sugar, and butter, mixing until a crumbly texture forms.
Sprinkle this over the batter, then bake for 55-60 minutes or until a toothpick inserted in the center comes out clean.
Let the bread cool in the pan for 10 minutes before transferring it to a wire rack to cool completely.
Once cooled, make the glaze by whisking together powdered sugar, vanilla, and heavy cream, adding more cream as needed to reach the desired consistency.
Drizzle over the bread before serving.