BFOCX vs. BRK-B

Last updated Jun 5, 2026

BFOCX (Berkshire Focus Fund) is Technology Equities fund managed by Berkshire, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, BFOCX returned 22.62%/yr vs 12.93%/yr for BRK-B. At a 0.29 correlation, their price movements are largely independent.

Performance

BFOCX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Focus Fund (BFOCX) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFOCX achieves a 57.47% return, which is significantly higher than BRK-B's -4.78% return. Over the past 10 years, BFOCX has outperformed BRK-B with an annualized return of 22.62%, while BRK-B has yielded a comparatively lower 12.93% annualized return.

BFOCX

• 1D: -2.08%
• 1M: 11.06%
• YTD: 57.47%
• 6M: 51.55%
• 1Y: 95.00%
• 3Y*: 51.67%
• 5Y*: 12.80%
• 10Y*: 22.62%

BRK-B

• 1D: 0.69%
• 1M: 2.82%
• YTD: -4.78%
• 6M: -4.89%
• 1Y: -2.52%
• 3Y*: 13.36%
• 5Y*: 10.35%
• 10Y*: 12.93%

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

BFOCX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFOCX Berkshire Focus Fund	57.47%	28.67%	59.16%	50.20%	-65.06%	-1.79%	90.81%	40.56%	10.04%	44.10%
BRK-B Berkshire Hathaway Inc.	-4.78%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between BFOCX and BRK-B is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Jul 1, 1997	0.29

The correlation between BFOCX and BRK-B shifts across timeframes, from -0.23 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BFOCX vs. BRK-B — Risk / Return Rank

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

BFOCX

BFOCX Risk / Return Rank: 73
BFOCX Sharpe Ratio Rank: 80
BFOCX Sortino Ratio Rank: 50
BFOCX Omega Ratio Rank: 53
BFOCX Calmar Ratio Rank: 94
BFOCX Martin Ratio Rank: 86

BRK-B

BRK-B Risk / Return Rank: 31
BRK-B Sharpe Ratio Rank: 34
BRK-B Sortino Ratio Rank: 28
BRK-B Omega Ratio Rank: 27
BRK-B Calmar Ratio Rank: 33
BRK-B Martin Ratio Rank: 32

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.

BFOCX vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Focus Fund (BFOCX) 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.

	BFOCX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	2.62	-0.18	+2.80
Sortino ratio: Return per unit of downside risk	2.97	-0.15	+3.11
Omega ratio: Gain probability vs. loss probability	1.40	0.98	+0.42
Calmar ratio: Return relative to maximum drawdown	5.61	-0.27	+5.88
Martin ratio: Return relative to average drawdown	16.30	-0.57	+16.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFOCX vs. BRK-B - Sharpe Ratio Comparison

The current BFOCX Sharpe Ratio is 2.62, which is higher than the BRK-B Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of BFOCX and BRK-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

	BFOCX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	-0.18	+2.80
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.61	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.67	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.48	-0.22

Drawdowns

BFOCX vs. BRK-B - Drawdown Comparison

The maximum BFOCX drawdown since its inception was -95.80%, which is greater than BRK-B's maximum drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for BFOCX and BRK-B.

Drawdown Indicators

	BFOCX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-95.80%	-53.86%	-41.94%
Max Drawdown (1Y) Largest decline over 1 year	-17.22%	-9.42%	-7.80%
Max Drawdown (3Y) Largest decline over 3 years	-40.55%	-14.95%	-25.60%
Max Drawdown (5Y) Largest decline over 5 years	-72.53%	-26.58%	-45.95%
Max Drawdown (10Y) Largest decline over 10 years	-72.53%	-29.57%	-42.96%
Current Drawdown Current decline from peak	-2.34%	-11.33%	+8.99%
Average Drawdown Average peak-to-trough decline	-58.16%	-11.07%	-47.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	4.46%	+1.46%

Volatility

BFOCX vs. BRK-B - Volatility Comparison

Berkshire Focus Fund (BFOCX) has a higher volatility of 13.54% compared to Berkshire Hathaway Inc. (BRK-B) at 3.72%. This indicates that BFOCX's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFOCX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.54%	3.72%	+9.82%
Volatility (6M) Calculated over the trailing 6-month period	29.40%	10.70%	+18.70%
Volatility (1Y) Calculated over the trailing 1-year period	36.93%	14.32%	+22.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.52%	17.11%	+26.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.56%	19.43%	+18.13%

Dividends

BFOCX vs. BRK-B - Dividend Comparison

Neither BFOCX nor BRK-B has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFOCX Berkshire Focus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	19.54%	21.20%	14.20%	5.70%	21.73%	0.14%	9.52%
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BFOCX and BRK-B in my portfolio?

BFOCX and BRK-B have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFOCX or BRK-B?

BFOCX has higher volatility (13.54%) compared to BRK-B (3.72%). In terms of maximum drawdown, BFOCX dropped -95.80% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

BFOCX currently has the higher Sharpe Ratio (2.62 vs -0.18), 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.