BRK-B vs. BIL

Last updated Jun 9, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) is Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Over the past 10 years, BRK-B returned 13.14%/yr vs 2.19%/yr for BIL. At a correlation of -0.03, they often move in opposite directions.

Performance

BRK-B vs. BIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRK-B achieves a -3.11% return, which is significantly lower than BIL's 1.54% return. Over the past 10 years, BRK-B has outperformed BIL with an annualized return of 13.14%, while BIL has yielded a comparatively lower 2.19% annualized return.

BRK-B

• 1D: -0.23%
• 1M: 2.32%
• YTD: -3.11%
• 6M: -2.06%
• 1Y: -1.32%
• 3Y*: 13.25%
• 5Y*: 11.03%
• 10Y*: 13.14%

BIL

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.54%
• 6M: 1.78%
• 1Y: 3.88%
• 3Y*: 4.62%
• 5Y*: 3.42%
• 10Y*: 2.19%

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

BRK-B vs. BIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	1.54%	4.15%	5.19%	4.94%	1.40%	-0.10%	0.40%	2.03%	1.74%	0.69%

Correlation

The correlation between BRK-B and BIL is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	-0.02
Correlation (10Y) Calculated over the trailing 10-year period	-0.01
Correlation (All Time) Calculated using the full available price history since May 31, 2007	-0.03

Return for Risk

BRK-B vs. BIL — Risk / Return Rank

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

BRK-B

BRK-B Risk / Return Rank: 35
BRK-B Sharpe Ratio Rank: 38
BRK-B Sortino Ratio Rank: 30
BRK-B Omega Ratio Rank: 30
BRK-B Calmar Ratio Rank: 38
BRK-B Martin Ratio Rank: 37

BIL

BIL Risk / Return Rank: 100
BIL Sharpe Ratio Rank: 100
BIL Sortino Ratio Rank: 100
BIL Omega Ratio Rank: 100
BIL Calmar Ratio Rank: 100
BIL Martin Ratio Rank: 100

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.

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

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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.

	BRK-B	BIL	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	19.64	-19.73
Sortino ratio: Return per unit of downside risk	-0.03	174.66	-174.69
Omega ratio: Gain probability vs. loss probability	1.00	88.16	-87.16
Calmar ratio: Return relative to maximum drawdown	-0.14	356.40	-356.54
Martin ratio: Return relative to average drawdown	-0.30	2,826.06	-2,826.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRK-B vs. BIL - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.09, which is lower than the BIL Sharpe Ratio of 19.64. The chart below compares the historical Sharpe Ratios of BRK-B and BIL, 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

	BRK-B	BIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	19.64	-19.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	13.23	-12.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	8.57	-7.89
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	2.78	-2.30

Drawdowns

BRK-B vs. BIL - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for BRK-B and BIL.

Drawdown Indicators

	BRK-B	BIL	Difference
Max Drawdown Largest peak-to-trough decline	-53.86%	-0.78%	-53.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-0.01%	-9.41%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-0.01%	-14.94%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-0.09%	-26.49%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-0.21%	-29.36%
Current Drawdown Current decline from peak	-9.78%	0.00%	-9.78%
Average Drawdown Average peak-to-trough decline	-11.07%	-0.26%	-10.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	0.00%	+4.49%

Volatility

BRK-B vs. BIL - Volatility Comparison

Berkshire Hathaway Inc. (BRK-B) has a higher volatility of 3.98% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that BRK-B's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK-B	BIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	0.06%	+3.92%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	0.14%	+10.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	0.20%	+14.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	0.26%	+16.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	0.26%	+19.18%

Dividends

BRK-B vs. BIL - Dividend Comparison

BRK-B has not paid dividends to shareholders, while BIL's dividend yield for the trailing twelve months is around 3.86%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BIL SPDR Bloomberg 1-3 Month T-Bill ETF	3.86%	4.13%	5.03%	4.92%	1.35%	0.00%	0.30%	2.05%	1.66%	0.68%	0.07%
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%

Frequently Asked Questions

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

BRK-B and BIL have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRK-B or BIL?

BRK-B has higher volatility (3.98%) compared to BIL (0.06%). In terms of maximum drawdown, BRK-B dropped -53.86% vs BIL's -0.78%.

Which has better risk-adjusted returns?

BIL currently has the higher Sharpe Ratio (19.64 vs -0.09), 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.