BALT vs. BRK-B
BALT (Innovator Defined Wealth Shield ETF) is Defined Outcome fund tracking the S&P 500, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 5 years, BALT returned 5.98%/yr vs 12.95%/yr for BRK-B. Their 0.43 correlation means their historical movements had little consistent relationship.
Performance
BALT vs. BRK-B - Performance Comparison
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Returns By Period
In the year-to-date period, BALT achieves a 2.78% return, which is significantly higher than BRK-B's 1.77% return.
BALT
- 1D
- 0.17%
- 1M
- 0.48%
- 6M
- 2.21%
- YTD
- 2.78%
- 1Y
- 6.56%
- 3Y*
- 6.98%
- 5Y*
- 5.98%
- 10Y*
- —
- ALL TIME*
- 5.93%
BRK-B
- 1D
- 0.36%
- 1M
- 2.36%
- 6M
- 6.45%
- YTD
- 1.77%
- 1Y
- 8.40%
- 3Y*
- 13.24%
- 5Y*
- 12.95%
- 10Y*
- 13.57%
- ALL TIME*
- 10.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.85M | $18.00M | $16.07M | |
| $2.04B | $2.04B | $2.42B |
BALT vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BALT Innovator Defined Wealth Shield ETF | 2.78% | 6.65% | 9.98% | 7.45% | 2.54% | 0.91% |
BRK-B Berkshire Hathaway Inc. | 1.77% | 10.89% | 27.09% | 15.46% | 3.31% | 7.58% |
Correlation
The correlation between BALT and BRK-B is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.30 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 1, 2021 | 0.43 |
Over the past year, the correlation between BALT and BRK-B has dropped to 0.10 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
BALT vs. BRK-B — Risk / Return Rank
BALT
BRK-B
BALT vs. BRK-B - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Defined Wealth Shield ETF (BALT) and Berkshire Hathaway Inc. (BRK-B). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BALT | BRK-B | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.34 | ||
| Sortino ratioReturn per unit of downside risk | +3.51 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.11 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 5.71 | 0.90 | +4.82 |
| Martin ratioReturn relative to average drawdown | 21.02 | 1.88 | +19.14 |
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Drawdowns
BALT vs. BRK-B - Drawdown Comparison
The maximum BALT drawdown since its inception was -4.89%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for BALT and BRK-B.
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Drawdown Indicators
| BALT | BRK-B | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.89% | -53.86% | +48.97% |
Max Drawdown (1Y)Largest decline over 1 year | -1.15% | -9.42% | +8.27% |
Max Drawdown (3Y)Largest decline over 3 years | -4.89% | -14.95% | +10.06% |
Max Drawdown (5Y)Largest decline over 5 years | -4.89% | -26.58% | +21.69% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | 0.00% | -5.24% | +5.24% |
Average DrawdownAverage peak-to-trough decline | -0.34% | -11.06% | +10.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.31% | 4.49% | -4.18% |
Volatility
BALT vs. BRK-B - Volatility Comparison
The current volatility for Innovator Defined Wealth Shield ETF (BALT) is 0.80%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 4.59%. This indicates that BALT experiences smaller price fluctuations and is considered to be less risky than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BALT | BRK-B | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 4.59% | -3.79% |
Volatility (6M)Calculated over the trailing 6-month period | 1.49% | 11.13% | -9.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.27% | 14.79% | -12.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 17.12% | -13.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.28% | 19.42% | -16.14% |
Dividends
BALT vs. BRK-B - Dividend Comparison
Neither BALT nor BRK-B has paid dividends to shareholders.
Frequently Asked Questions
BALT and BRK-B have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRK-B has higher volatility (4.59%) compared to BALT (0.80%). In terms of maximum drawdown, BALT dropped -4.89% vs BRK-B's -53.86%.
BALT currently has the higher Sharpe Ratio (2.91 vs 0.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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