BHYIX vs. BRK-B

Last updated Jun 4, 2026

BHYIX (BlackRock High Yield Bond Portfolio Institutional Shares) is High Yield Bonds fund managed by BlackRock, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, BHYIX returned 5.91%/yr vs 12.91%/yr for BRK-B. At a 0.24 correlation, their price movements are largely independent.

Performance

BHYIX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) 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, BHYIX achieves a 1.90% return, which is significantly higher than BRK-B's -5.43% return. Over the past 10 years, BHYIX has underperformed BRK-B with an annualized return of 5.91%, while BRK-B has yielded a comparatively higher 12.91% annualized return.

BHYIX

• 1D: 0.14%
• 1M: 0.70%
• YTD: 1.90%
• 6M: 2.44%
• 1Y: 8.04%
• 3Y*: 9.31%
• 5Y*: 4.49%
• 10Y*: 5.91%

BRK-B

• 1D: 0.82%
• 1M: 1.46%
• YTD: -5.43%
• 6M: -5.61%
• 1Y: -4.51%
• 3Y*: 13.00%
• 5Y*: 10.20%
• 10Y*: 12.91%

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

BHYIX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares	1.90%	9.18%	8.55%	13.19%	-11.24%	5.53%	5.87%	15.35%	-2.81%	8.23%
BRK-B Berkshire Hathaway Inc.	-5.43%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between BHYIX and BRK-B is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Nov 19, 1998	0.24

The correlation between BHYIX and BRK-B shifts across timeframes, from 0.17 (1 year) to 0.34 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BHYIX vs. BRK-B — Risk / Return Rank

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

BHYIX

BHYIX Risk / Return Rank: 82
BHYIX Sharpe Ratio Rank: 70
BHYIX Sortino Ratio Rank: 90
BHYIX Omega Ratio Rank: 85
BHYIX Calmar Ratio Rank: 75
BHYIX Martin Ratio Rank: 87

BRK-B

BRK-B Risk / Return Rank: 23
BRK-B Sharpe Ratio Rank: 27
BRK-B Sortino Ratio Rank: 22
BRK-B Omega Ratio Rank: 23
BRK-B Calmar Ratio Rank: 24
BRK-B Martin Ratio Rank: 20

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.

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

This table presents a comparison of risk-adjusted performance metrics for BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) 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.

	BHYIX	BRK-B	Difference
Sharpe ratio Return per unit of total volatility	2.45	-0.32	+2.76
Sortino ratio Return per unit of downside risk	4.39	-0.34	+4.73
Omega ratio Gain probability vs. loss probability	1.57	0.96	+0.62
Calmar ratio Return relative to maximum drawdown	3.42	-0.48	+3.90
Martin ratio Return relative to average drawdown	16.95	-1.02	+17.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BHYIX vs. BRK-B - Sharpe Ratio Comparison

The current BHYIX Sharpe Ratio is 2.45, which is higher than the BRK-B Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of BHYIX 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

	BHYIX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	-0.32	+2.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.60	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.00	0.67	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	0.48	+0.74

Drawdowns

BHYIX vs. BRK-B - Drawdown Comparison

The maximum BHYIX drawdown since its inception was -34.82%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for BHYIX and BRK-B.

Drawdown Indicators

	BHYIX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-34.82%	-53.86%	+19.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	-9.42%	+7.01%
Max Drawdown (3Y) Largest decline over 3 years	-4.07%	-14.95%	+10.88%
Max Drawdown (5Y) Largest decline over 5 years	-15.45%	-26.58%	+11.13%
Max Drawdown (10Y) Largest decline over 10 years	-23.23%	-29.57%	+6.34%
Current Drawdown Current decline from peak	0.00%	-11.94%	+11.94%
Average Drawdown Average peak-to-trough decline	-2.75%	-11.07%	+8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	4.57%	-4.09%

Volatility

BHYIX vs. BRK-B - Volatility Comparison

The current volatility for BlackRock High Yield Bond Portfolio Institutional Shares (BHYIX) is 1.10%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.75%. This indicates that BHYIX 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.

Volatility by Period

	BHYIX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	3.75%	-2.65%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	10.68%	-8.12%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	14.33%	-10.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.24%	17.11%	-11.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.93%	19.43%	-13.50%

Dividends

BHYIX vs. BRK-B - Dividend Comparison

BHYIX's dividend yield for the trailing twelve months is around 7.05%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BHYIX BlackRock High Yield Bond Portfolio Institutional Shares	7.05%	7.05%	7.46%	6.15%	4.91%	4.73%	5.12%	5.70%	6.33%	5.82%	5.96%	6.33%
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 BHYIX and BRK-B in my portfolio?

BHYIX and BRK-B have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BHYIX or BRK-B?

BRK-B has higher volatility (3.75%) compared to BHYIX (1.10%). In terms of maximum drawdown, BHYIX dropped -34.82% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

BHYIX currently has the higher Sharpe Ratio (2.45 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.