BRK-B vs. QLD

Last updated Jun 9, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while QLD (ProShares Ultra QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (200%). Over the past 10 years, BRK-B returned 13.14%/yr vs 35.29%/yr for QLD. At a 0.48 correlation, their price movements are largely independent.

Performance

BRK-B vs. QLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and ProShares Ultra QQQ (QLD). 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 QLD's 31.05% return. Over the past 10 years, BRK-B has underperformed QLD with an annualized return of 13.14%, while QLD has yielded a comparatively higher 35.29% 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%

QLD

• 1D: 3.03%
• 1M: 0.58%
• YTD: 31.05%
• 6M: 26.63%
• 1Y: 69.67%
• 3Y*: 46.32%
• 5Y*: 23.57%
• 10Y*: 35.29%

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

BRK-B vs. QLD - 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%
QLD ProShares Ultra QQQ	31.05%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%

Correlation

The correlation between BRK-B and QLD is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	0.48

The correlation between BRK-B and QLD shifts across timeframes, from -0.06 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BRK-B vs. QLD — 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

QLD

QLD Risk / Return Rank: 63
QLD Sharpe Ratio Rank: 72
QLD Sortino Ratio Rank: 59
QLD Omega Ratio Rank: 62
QLD Calmar Ratio Rank: 62
QLD Martin Ratio Rank: 59

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. QLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and ProShares Ultra QQQ (QLD). 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	QLD	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	2.10	-2.19
Sortino ratio: Return per unit of downside risk	-0.03	2.52	-2.55
Omega ratio: Gain probability vs. loss probability	1.00	1.34	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.14	2.79	-2.93
Martin ratio: Return relative to average drawdown	-0.30	9.64	-9.93
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. QLD - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.09, which is lower than the QLD Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of BRK-B and QLD, 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	QLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	2.10	-2.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.53	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	0.79	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.58	-0.10

Drawdowns

BRK-B vs. QLD - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, smaller than the maximum QLD drawdown of -83.13%. Use the drawdown chart below to compare losses from any high point for BRK-B and QLD.

Drawdown Indicators

	BRK-B	QLD	Difference
Max Drawdown Largest peak-to-trough decline	-53.86%	-83.13%	+29.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-25.13%	+15.71%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-42.29%	+27.34%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-63.68%	+37.10%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-63.68%	+34.11%
Current Drawdown Current decline from peak	-9.78%	-8.24%	-1.54%
Average Drawdown Average peak-to-trough decline	-11.07%	-18.16%	+7.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.49%	7.25%	-2.76%

Volatility

BRK-B vs. QLD - Volatility Comparison

The current volatility for Berkshire Hathaway Inc. (BRK-B) is 3.98%, while ProShares Ultra QQQ (QLD) has a volatility of 13.78%. This indicates that BRK-B experiences smaller price fluctuations and is considered to be less risky than QLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK-B	QLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	13.78%	-9.80%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	26.34%	-15.47%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	33.42%	-19.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.13%	44.95%	-27.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	44.68%	-25.24%

Dividends

BRK-B vs. QLD - Dividend Comparison

BRK-B has not paid dividends to shareholders, while QLD's dividend yield for the trailing twelve months is around 0.13%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
QLD ProShares Ultra QQQ	0.13%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Frequently Asked Questions

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

BRK-B and QLD have a correlation of -0.06, 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 QLD?

QLD has higher volatility (13.78%) compared to BRK-B (3.98%). In terms of maximum drawdown, BRK-B dropped -53.86% vs QLD's -83.13%.

Which has better risk-adjusted returns?

QLD currently has the higher Sharpe Ratio (2.10 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.