BRK-B vs. PVAL

Last updated Jun 9, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while PVAL (Putnam Focused Large Cap Value ETF) is Large Cap Value Equities fund actively managed by Putnam. Over the past 5 years, BRK-B returned 11.03%/yr vs 15.91%/yr for PVAL. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

BRK-B vs. PVAL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and Putnam Focused Large Cap Value ETF (PVAL). 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 PVAL's 11.24% 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%

PVAL

• 1D: 0.02%
• 1M: 2.45%
• YTD: 11.24%
• 6M: 14.07%
• 1Y: 31.00%
• 3Y*: 23.05%
• 5Y*: 15.91%
• 10Y*: —

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

BRK-B vs. PVAL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	4.06%
PVAL Putnam Focused Large Cap Value ETF	11.24%	24.13%	19.30%	18.41%	-2.61%	11.44%

Correlation

The correlation between BRK-B and PVAL is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since May 27, 2021	0.64

Over the past year, the correlation between BRK-B and PVAL has dropped to 0.33 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

BRK-B vs. PVAL — 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

PVAL

PVAL Risk / Return Rank: 89
PVAL Sharpe Ratio Rank: 91
PVAL Sortino Ratio Rank: 91
PVAL Omega Ratio Rank: 90
PVAL Calmar Ratio Rank: 85
PVAL Martin Ratio Rank: 86

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. PVAL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and Putnam Focused Large Cap Value ETF (PVAL). 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	PVAL	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	2.86	-2.95
Sortino ratio: Return per unit of downside risk	-0.03	3.99	-4.02
Omega ratio: Gain probability vs. loss probability	1.00	1.52	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.14	4.31	-4.45
Martin ratio: Return relative to average drawdown	-0.30	16.44	-16.73
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. PVAL - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.09, which is lower than the PVAL Sharpe Ratio of 2.86. The chart below compares the historical Sharpe Ratios of BRK-B and PVAL, 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	PVAL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	2.86	-2.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	1.05	-0.40
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	1.06	-0.58

Drawdowns

BRK-B vs. PVAL - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, which is greater than PVAL's maximum drawdown of -16.64%. Use the drawdown chart below to compare losses from any high point for BRK-B and PVAL.

Drawdown Indicators

	BRK-B	PVAL	Difference
Max Drawdown Largest peak-to-trough decline	-53.86%	-16.64%	-37.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-7.22%	-2.20%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-15.42%	+0.47%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-16.64%	-9.94%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	—	—
Current Drawdown Current decline from peak	-9.78%	-1.60%	-8.18%
Average Drawdown Average peak-to-trough decline	-11.07%	-3.01%	-8.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	1.89%	+2.60%

Volatility

BRK-B vs. PVAL - Volatility Comparison

Berkshire Hathaway Inc. (BRK-B) has a higher volatility of 3.98% compared to Putnam Focused Large Cap Value ETF (PVAL) at 2.87%. This indicates that BRK-B's price experiences larger fluctuations and is considered to be riskier than PVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK-B	PVAL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	2.87%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	8.41%	+2.46%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	10.91%	+3.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	15.29%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	15.24%	+4.20%

Dividends

BRK-B vs. PVAL - Dividend Comparison

BRK-B has not paid dividends to shareholders, while PVAL's dividend yield for the trailing twelve months is around 0.98%.

Position	TTM	2025	2024	2023	2022	2021
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PVAL Putnam Focused Large Cap Value ETF	0.98%	1.00%	1.34%	1.33%	0.59%	0.47%

Frequently Asked Questions

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

BRK-B and PVAL have a correlation of 0.33, 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 PVAL?

BRK-B has higher volatility (3.98%) compared to PVAL (2.87%). In terms of maximum drawdown, BRK-B dropped -53.86% vs PVAL's -16.64%.

Which has better risk-adjusted returns?

PVAL currently has the higher Sharpe Ratio (2.86 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.