BF-A vs. BF-B

Last updated Jun 3, 2026

BF-A (Brown-Forman Corporation) and BF-B (Brown-Forman Corporation) are both stocks. Both operate in the Beverages - Wineries & Distilleries industry within the Consumer Defensive sector. Over the past 10 years, BF-A returned -3.10%/yr vs -2.65%/yr for BF-B. A 0.79 correlation means they provide meaningful diversification when combined.

Performance

BF-A vs. BF-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown-Forman Corporation (BF-A) and Brown-Forman Corporation (BF-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BF-A achieves a -1.09% return, which is significantly higher than BF-B's -3.41% return. Over the past 10 years, BF-A has underperformed BF-B with an annualized return of -3.10%, while BF-B has yielded a comparatively higher -2.65% annualized return.

BF-A

• 1D: -0.35%
• 1M: -1.49%
• YTD: -1.09%
• 6M: -10.30%
• 1Y: -19.18%
• 3Y*: -24.87%
• 5Y*: -17.67%
• 10Y*: -3.10%

BF-B

• 1D: -0.87%
• 1M: -2.39%
• YTD: -3.41%
• 6M: -15.13%
• 1Y: -22.37%
• 3Y*: -25.30%
• 5Y*: -19.36%
• 10Y*: -2.65%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BF-A vs. BF-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BF-A Brown-Forman Corporation	-1.09%	-28.07%	-35.56%	-8.20%	-1.88%	-5.36%	18.31%	34.00%	-9.34%	47.37%
BF-B Brown-Forman Corporation	-3.41%	-29.29%	-32.23%	-11.91%	-8.86%	-6.07%	18.67%	43.78%	-10.98%	55.01%

Correlation

The correlation between BF-A and BF-B is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 10, 1984	0.79

The correlation between BF-A and BF-B shifts across timeframes, from 0.79 (all time) to 0.96 (3 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS BF-A : $2.56 BF-B : $2.56
PE Ratio BF-A : 10.07 BF-B : 9.74
PEG Ratio BF-A : 12.52 BF-B : 12.11
PS Ratio BF-A : 2.08 BF-B : 2.01
Total Revenue (TTM) BF-A : $3.92B BF-B : $3.92B
Gross Profit (TTM) BF-A : $2.33B BF-B : $2.33B
EBITDA (TTM) BF-A : $1.17B BF-B : $1.17B

Return for Risk

BF-A vs. BF-B — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BF-A

BF-A Risk / Return Rank: 16
BF-A Sharpe Ratio Rank: 19
BF-A Sortino Ratio Rank: 20
BF-A Omega Ratio Rank: 20
BF-A Calmar Ratio Rank: 14
BF-A Martin Ratio Rank: 9

BF-B

BF-B Risk / Return Rank: 14
BF-B Sharpe Ratio Rank: 17
BF-B Sortino Ratio Rank: 19
BF-B Omega Ratio Rank: 18
BF-B Calmar Ratio Rank: 11
BF-B Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BF-A vs. BF-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown-Forman Corporation (BF-A) and Brown-Forman Corporation (BF-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.

	BF-A	BF-B	Difference
Sharpe ratio Return per unit of total volatility	-0.48	-0.53	+0.05
Sortino ratio Return per unit of downside risk	-0.43	-0.52	+0.09
Omega ratio Gain probability vs. loss probability	0.94	0.93	+0.01
Calmar ratio Return relative to maximum drawdown	-0.72	-0.78	+0.06
Martin ratio Return relative to average drawdown	-1.34	-1.45	+0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BF-A vs. BF-B - Sharpe Ratio Comparison

The current BF-A Sharpe Ratio is -0.48, which is comparable to the BF-B Sharpe Ratio of -0.53. The chart below compares the historical Sharpe Ratios of BF-A and BF-B, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BF-A	BF-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.48	-0.53	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.61	-0.65	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.11	-0.09	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.48	-0.20

Drawdowns

BF-A vs. BF-B - Drawdown Comparison

The maximum BF-A drawdown since its inception was -70.24%, roughly equal to the maximum BF-B drawdown of -68.96%. Use the drawdown chart below to compare losses from any high point for BF-A and BF-B.

Drawdown Indicators

	BF-A	BF-B	Difference
Max Drawdown Largest peak-to-trough decline	-70.24%	-68.96%	-1.28%
Max Drawdown (1Y) Largest decline over 1 year	-27.65%	-29.05%	+1.40%
Max Drawdown (3Y) Largest decline over 3 years	-65.74%	-65.65%	-0.09%
Max Drawdown (5Y) Largest decline over 5 years	-67.09%	-68.68%	+1.59%
Max Drawdown (10Y) Largest decline over 10 years	-68.32%	-68.96%	+0.64%
Current Drawdown Current decline from peak	-64.79%	-66.04%	+1.25%
Average Drawdown Average peak-to-trough decline	-14.78%	-11.58%	-3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.79%	15.61%	-0.82%

Volatility

BF-A vs. BF-B - Volatility Comparison

Brown-Forman Corporation (BF-A) has a higher volatility of 11.16% compared to Brown-Forman Corporation (BF-B) at 10.45%. This indicates that BF-A's price experiences larger fluctuations and is considered to be riskier than BF-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BF-A	BF-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.16%	10.45%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	29.69%	31.30%	-1.61%
Volatility (1Y) Calculated over the trailing 1-year period	40.10%	42.17%	-2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.21%	29.88%	-0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.16%	28.02%	+0.14%

Dividends

BF-A vs. BF-B - Dividend Comparison

BF-A's dividend yield for the trailing twelve months is around 3.55%, less than BF-B's 3.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BF-A Brown-Forman Corporation	3.55%	3.46%	2.33%	1.40%	1.17%	2.55%	0.96%	1.07%	3.11%	1.11%	1.50%	1.17%
BF-B Brown-Forman Corporation	3.67%	3.49%	2.32%	1.46%	1.17%	2.37%	0.88%	0.99%	3.10%	1.09%	1.54%	1.29%

Financials

BF-A vs. BF-B - Profitability Comparison

The chart below illustrates the profitability comparison between Brown-Forman Corporation and Brown-Forman Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

BF-A - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brown-Forman Corporation reported a gross profit of 640.00M and revenue of 1.06B. Therefore, the gross margin over that period was 60.6%.

BF-B - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Brown-Forman Corporation reported a gross profit of 640.00M and revenue of 1.06B. Therefore, the gross margin over that period was 60.6%.

BF-A - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brown-Forman Corporation reported an operating income of 340.00M and revenue of 1.06B, resulting in an operating margin of 32.2%.

BF-B - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Brown-Forman Corporation reported an operating income of 340.00M and revenue of 1.06B, resulting in an operating margin of 32.2%.

BF-A - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brown-Forman Corporation reported a net income of 267.00M and revenue of 1.06B, resulting in a net margin of 25.3%.

BF-B - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Brown-Forman Corporation reported a net income of 267.00M and revenue of 1.06B, resulting in a net margin of 25.3%.

Frequently Asked Questions

Can I hold both BF-A and BF-B in my portfolio?

With a correlation of 0.96, BF-A and BF-B move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BF-A or BF-B?

BF-A has higher volatility (11.16%) compared to BF-B (10.45%). In terms of maximum drawdown, BF-A dropped -70.24% vs BF-B's -68.96%.

Which has better risk-adjusted returns?

BF-A currently has the higher Sharpe Ratio (-0.48 vs -0.53), 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.