BRK-B vs. PVAL

Last updated Jul 22, 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 12.01%/yr vs 17.05%/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 -2.59% return, which is significantly lower than PVAL's 15.24% return.

BRK-B

• 1D: -0.33%
• 1M: 0.04%
• 6M: 0.88%
• YTD: -2.59%
• 1Y: 3.21%
• 3Y*: 12.30%
• 5Y*: 12.01%
• 10Y*: 12.97%
• ALL TIME*: 10.56%

PVAL

• 1D: 0.83%
• 1M: 1.84%
• 6M: 13.72%
• YTD: 15.24%
• 1Y: 29.47%
• 3Y*: 21.78%
• 5Y*: 17.05%
• 10Y*: —
• ALL TIME*: 16.53%

*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.	-2.59%	10.89%	27.09%	15.46%	3.31%	4.11%
PVAL Putnam Focused Large Cap Value ETF	15.24%	24.13%	19.30%	18.41%	-2.61%	11.77%

Correlation

The correlation between BRK-B and PVAL is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.64

Over the past year, the correlation between BRK-B and PVAL has dropped to 0.29 - 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: 50
BRK-B Sharpe Ratio Rank: 54
BRK-B Sortino Ratio Rank: 45
BRK-B Omega Ratio Rank: 44
BRK-B Calmar Ratio Rank: 55
BRK-B Martin Ratio Rank: 54

PVAL

PVAL Risk / Return Rank: 92
PVAL Sharpe Ratio Rank: 94
PVAL Sortino Ratio Rank: 94
PVAL Omega Ratio Rank: 92
PVAL Calmar Ratio Rank: 90
PVAL Martin Ratio Rank: 91

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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BRK-B	PVAL	Difference
Sharpe ratio: Return per unit of total volatility	0.22	2.67	-2.45
Sortino ratio: Return per unit of downside risk	0.41	3.75	-3.34
Omega ratio: Gain probability vs. loss probability	1.05	1.48	-0.43
Calmar ratio: Return relative to maximum drawdown	0.34	4.10	-3.76
Martin ratio: Return relative to average drawdown	0.71	15.44	-14.72

BRK-B vs. PVAL - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is 0.22, which is lower than the PVAL Sharpe Ratio of 2.67. 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.

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	-9.29%	0.00%	-9.29%
Average Drawdown Average peak-to-trough decline	-11.06%	-2.96%	-8.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.51%	1.91%	+2.60%

Volatility

BRK-B vs. PVAL - Volatility Comparison

Berkshire Hathaway Inc. (BRK-B) has a higher volatility of 4.42% compared to Putnam Focused Large Cap Value ETF (PVAL) at 2.49%. 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	4.42%	2.49%	+1.93%
Volatility (6M) Calculated over the trailing 6-month period	11.07%	8.56%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	14.54%	11.09%	+3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.08%	15.22%	+1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.40%	15.15%	+4.25%

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 0.92%.

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	0.92%	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 0.29, 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 (4.42%) compared to PVAL (2.49%). 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 (2.67 vs 0.22), 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.