BHMG.L vs. PSHZF

Last updated Apr 2, 2026

Compare and contrast key facts about BH Macro Limited (BHMG.L) and Pershing Square Holdings Ltd (PSHZF).

Performance

BHMG.L vs. PSHZF - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in BH Macro Limited (BHMG.L) and Pershing Square Holdings Ltd (PSHZF). The values are adjusted to include any dividend payments, if applicable.

BHMG.L vs. PSHZF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BHMG.L BH Macro Limited	5.26%	-1.72%	10.63%	-18.26%	20.05%	6.25%	34.87%	10.36%	18.25%	-6.28%
PSHZF Pershing Square Holdings Ltd	-14.48%	27.00%	6.40%	30.56%	-5.04%	18.91%	83.71%	47.69%	-2.64%	-13.29%

Different Trading Currencies

BHMG.L is traded in GBp, while PSHZF is traded in USD. To make them comparable, the PSHZF values have been converted to GBp using the latest available exchange rates.

Fundamentals

Market Cap BHMG.L : £1.51B PSHZF : $9.89B
EPS BHMG.L : £0.88 PSHZF : $12.78
PE Ratio BHMG.L : 4.79 PSHZF : 4.28
PEG Ratio BHMG.L : 0.05 PSHZF : 1.57
PS Ratio BHMG.L : 8.13 PSHZF : 3.20
PB Ratio BHMG.L : 0.72 PSHZF : 0.67
Total Revenue (TTM) BHMG.L : £185.43M PSHZF : $3.10B
Gross Profit (TTM) BHMG.L : £177.43M PSHZF : $3.10B
EBITDA (TTM) BHMG.L : £81.73M PSHZF : $0.00

Returns By Period

In the year-to-date period, BHMG.L achieves a 5.26% return, which is significantly higher than PSHZF's -14.48% return. Over the past 10 years, BHMG.L has underperformed PSHZF with an annualized return of 7.76%, while PSHZF has yielded a comparatively higher 16.86% annualized return.

BHMG.L

• 1D: -0.24%
• 1M: -2.89%
• YTD: 5.26%
• 6M: 6.33%
• 1Y: 11.26%
• 3Y*: 0.08%
• 5Y*: 4.72%
• 10Y*: 7.76%

PSHZF

• 1D: 1.81%
• 1M: -4.13%
• YTD: -14.48%
• 6M: -9.78%
• 1Y: 10.12%
• 3Y*: 14.69%
• 5Y*: 10.86%
• 10Y*: 16.86%

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

Return for Risk

BHMG.L vs. PSHZF — Risk / Return Rank

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

BHMG.L

BHMG.L Risk / Return Rank: 69
BHMG.L Sharpe Ratio Rank: 72
BHMG.L Sortino Ratio Rank: 66
BHMG.L Omega Ratio Rank: 65
BHMG.L Calmar Ratio Rank: 73
BHMG.L Martin Ratio Rank: 71

PSHZF

PSHZF Risk / Return Rank: 54
PSHZF Sharpe Ratio Rank: 59
PSHZF Sortino Ratio Rank: 51
PSHZF Omega Ratio Rank: 50
PSHZF Calmar Ratio Rank: 54
PSHZF Martin Ratio Rank: 58

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.

BHMG.L vs. PSHZF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BH Macro Limited (BHMG.L) and Pershing Square Holdings Ltd (PSHZF). 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.

	BHMG.L	PSHZF	Difference
Sharpe ratio Return per unit of total volatility	0.96	0.40	+0.56
Sortino ratio Return per unit of downside risk	1.46	0.72	+0.74
Omega ratio Gain probability vs. loss probability	1.19	1.09	+0.10
Calmar ratio Return relative to maximum drawdown	1.70	0.44	+1.25
Martin ratio Return relative to average drawdown	3.86	1.31	+2.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BHMG.L vs. PSHZF - Sharpe Ratio Comparison

The current BHMG.L Sharpe Ratio is 0.96, which is higher than the PSHZF Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of BHMG.L and PSHZF, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BHMG.L	PSHZF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.96	0.40	+0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.47	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.68	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.36	—

Correlation

The correlation between BHMG.L and PSHZF is 0.05, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BHMG.L vs. PSHZF - Dividend Comparison

BHMG.L has not paid dividends to shareholders, while PSHZF's dividend yield for the trailing twelve months is around 1.24%.

	TTM	2025	2024	2023	2022	2021	2020	2019
BHMG.L BH Macro Limited	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSHZF Pershing Square Holdings Ltd	1.24%	1.01%	1.21%	1.12%	1.38%	1.14%	1.35%	1.57%

Drawdowns

BHMG.L vs. PSHZF - Drawdown Comparison

The maximum BHMG.L drawdown since its inception was -127.79%, which is greater than PSHZF's maximum drawdown of -53.53%. Use the drawdown chart below to compare losses from any high point for BHMG.L and PSHZF.

Drawdown Indicators

	BHMG.L	PSHZF	Difference
Max Drawdown Largest peak-to-trough decline	-127.79%	-56.97%	-70.82%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-22.81%	+15.83%
Max Drawdown (5Y) Largest decline over 5 years	-35.94%	-31.46%	-4.48%
Max Drawdown (10Y) Largest decline over 10 years	-35.94%	-32.96%	-2.98%
Current Drawdown Current decline from peak	-122.80%	-18.63%	-104.17%
Average Drawdown Average peak-to-trough decline	-84.68%	-23.25%	-61.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	7.49%	-4.42%

Volatility

BHMG.L vs. PSHZF - Volatility Comparison

The current volatility for BH Macro Limited (BHMG.L) is 4.63%, while Pershing Square Holdings Ltd (PSHZF) has a volatility of 9.27%. This indicates that BHMG.L experiences smaller price fluctuations and is considered to be less risky than PSHZF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BHMG.L	PSHZF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	9.27%	-4.64%
Volatility (6M) Calculated over the trailing 6-month period	8.02%	16.32%	-8.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	25.38%	-13.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	23.04%	-4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	24.72%	-8.18%

Financials