BFOCX vs. BRK-B

Last updated Jul 17, 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 20.29%/yr vs 12.90%/yr for BRK-B. At a 0.28 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 32.23% return, which is significantly higher than BRK-B's -1.90% return. Over the past 10 years, BFOCX has outperformed BRK-B with an annualized return of 20.29%, while BRK-B has yielded a comparatively lower 12.90% annualized return.

BFOCX

• 1D: -2.06%
• 1M: -14.51%
• 6M: 27.51%
• YTD: 32.23%
• 1Y: 41.50%
• 3Y*: 38.61%
• 5Y*: 8.26%
• 10Y*: 20.29%

BRK-B

• 1D: 0.98%
• 1M: -0.37%
• 6M: 0.10%
• YTD: -1.90%
• 1Y: 4.63%
• 3Y*: 12.73%
• 5Y*: 12.15%
• 10Y*: 12.90%

*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	32.23%	28.67%	59.16%	50.20%	-65.06%	-1.79%	90.81%	40.56%	10.04%	44.10%
BRK-B Berkshire Hathaway Inc.	-1.90%	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 -0.28, 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	-0.28
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.23
Correlation (All Time) Calculated using the full available price history since Jun 30, 1997	0.28

The correlation between BFOCX and BRK-B shifts across timeframes, from -0.28 (1 year) to 0.28 (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: 26
BFOCX Sharpe Ratio Rank: 19
BFOCX Sortino Ratio Rank: 19
BFOCX Omega Ratio Rank: 22
BFOCX Calmar Ratio Rank: 39
BFOCX Martin Ratio Rank: 32

BRK-B

BRK-B Risk / Return Rank: 53
BRK-B Sharpe Ratio Rank: 57
BRK-B Sortino Ratio Rank: 48
BRK-B Omega Ratio Rank: 46
BRK-B Calmar Ratio Rank: 57
BRK-B Martin Ratio Rank: 57

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.

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.

	BFOCX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	0.93	0.32	+0.62
Sortino ratio: Return per unit of downside risk	1.39	0.54	+0.85
Omega ratio: Gain probability vs. loss probability	1.19	1.07	+0.12
Calmar ratio: Return relative to maximum drawdown	1.92	0.49	+1.43
Martin ratio: Return relative to average drawdown	5.77	1.04	+4.73

BFOCX vs. BRK-B - Sharpe Ratio Comparison

The current BFOCX Sharpe Ratio is 0.93, which is higher than the BRK-B Sharpe Ratio of 0.32. 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.

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	-22.22%	-9.42%	-12.80%
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	-22.03%	-8.65%	-13.38%
Average Drawdown Average peak-to-trough decline	-57.98%	-11.06%	-46.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.39%	4.48%	+2.91%

Volatility

BFOCX vs. BRK-B - Volatility Comparison

Berkshire Focus Fund (BFOCX) has a higher volatility of 24.06% compared to Berkshire Hathaway Inc. (BRK-B) at 4.46%. 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	24.06%	4.46%	+19.60%
Volatility (6M) Calculated over the trailing 6-month period	39.66%	11.07%	+28.59%
Volatility (1Y) Calculated over the trailing 1-year period	45.67%	14.54%	+31.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.20%	17.12%	+28.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.53%	19.40%	+19.13%

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 -0.28, 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 (24.06%) compared to BRK-B (4.46%). 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 (0.93 vs 0.32), 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.