BRK-B vs. DBMF

Last updated Jun 9, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while DBMF (iMGP DBi Managed Futures Strategy ETF) is Systematic Trend fund actively managed by iM Global Partners. Over the past 5 years, BRK-B returned 11.03%/yr vs 7.92%/yr for DBMF. At a 0.07 correlation, their price movements are largely independent.

Performance

BRK-B vs. DBMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and iMGP DBi Managed Futures Strategy ETF (DBMF). 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 DBMF's 10.45% 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%

DBMF

• 1D: 0.68%
• 1M: 0.59%
• YTD: 10.45%
• 6M: 12.63%
• 1Y: 29.05%
• 3Y*: 10.02%
• 5Y*: 7.92%
• 10Y*: —

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

BRK-B vs. DBMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	8.22%
DBMF iMGP DBi Managed Futures Strategy ETF	10.45%	13.85%	7.24%	-8.94%	21.61%	11.49%	1.80%	10.67%

Correlation

The correlation between BRK-B and DBMF is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.00
Correlation (All Time) Calculated using the full available price history since May 9, 2019	0.07

The correlation between BRK-B and DBMF shifts across timeframes, from -0.04 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BRK-B vs. DBMF — 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

DBMF

DBMF Risk / Return Rank: 84
DBMF Sharpe Ratio Rank: 81
DBMF Sortino Ratio Rank: 77
DBMF Omega Ratio Rank: 88
DBMF Calmar Ratio Rank: 89
DBMF Martin Ratio Rank: 88

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. DBMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and iMGP DBi Managed Futures Strategy ETF (DBMF). 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	DBMF	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	2.36	-2.46
Sortino ratio: Return per unit of downside risk	-0.03	3.08	-3.11
Omega ratio: Gain probability vs. loss probability	1.00	1.50	-0.50
Calmar ratio: Return relative to maximum drawdown	-0.14	4.78	-4.92
Martin ratio: Return relative to average drawdown	-0.30	17.53	-17.83
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. DBMF - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.09, which is lower than the DBMF Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of BRK-B and DBMF, 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	DBMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	2.36	-2.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.63	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.75	-0.27

Drawdowns

BRK-B vs. DBMF - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, which is greater than DBMF's maximum drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for BRK-B and DBMF.

Drawdown Indicators

	BRK-B	DBMF	Difference
Max Drawdown Largest peak-to-trough decline	-53.86%	-20.39%	-33.47%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-6.10%	-3.32%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-15.60%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-20.39%	-6.19%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	—	—
Current Drawdown Current decline from peak	-9.78%	-1.75%	-8.03%
Average Drawdown Average peak-to-trough decline	-11.07%	-6.58%	-4.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	1.66%	+2.83%

Volatility

BRK-B vs. DBMF - Volatility Comparison

Berkshire Hathaway Inc. (BRK-B) has a higher volatility of 3.98% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.94%. This indicates that BRK-B's price experiences larger fluctuations and is considered to be riskier than DBMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK-B	DBMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	2.94%	+1.04%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	10.01%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	12.38%	+2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	12.56%	+4.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	12.43%	+7.01%

Dividends

BRK-B vs. DBMF - Dividend Comparison

BRK-B has not paid dividends to shareholders, while DBMF's dividend yield for the trailing twelve months is around 5.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBMF iMGP DBi Managed Futures Strategy ETF	5.18%	5.91%	5.75%	2.91%	7.72%	10.38%	0.86%	9.35%

Frequently Asked Questions

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

BRK-B and DBMF have a correlation of -0.04, 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 DBMF?

BRK-B has higher volatility (3.98%) compared to DBMF (2.94%). In terms of maximum drawdown, BRK-B dropped -53.86% vs DBMF's -20.39%.

Which has better risk-adjusted returns?

DBMF currently has the higher Sharpe Ratio (2.36 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.