PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
BRK-B vs. SH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BRK-B vs. SH

Last updated Jun 13, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while SH (ProShares Short S&P500) is Inverse Equities fund tracking the S&P 500 (-100%). Over the past 10 years, BRK-B returned 13.22%/yr vs -12.83%/yr for SH. At a correlation of -0.63, they often move in opposite directions.

Performance

BRK-B vs. SH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and ProShares Short S&P500 (SH). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, BRK-B achieves a -2.67% return, which is significantly higher than SH's -6.39% return. Over the past 10 years, BRK-B has outperformed SH with an annualized return of 13.22%, while SH has yielded a comparatively lower -12.83% annualized return.

BRK-B

1D
0.71%
1M
1.07%
YTD
-2.67%
6M
-2.06%
1Y
0.35%
3Y*
13.30%
5Y*
11.27%
10Y*
13.22%

SH

1D
-0.50%
1M
1.30%
YTD
-6.39%
6M
-6.43%
1Y
-15.90%
3Y*
-11.96%
5Y*
-8.68%
10Y*
-12.83%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BRK-B vs. SH - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BRK-B
Berkshire Hathaway Inc.		-2.67%10.89%27.09%15.46%3.31%28.95%2.37%10.93%3.01%21.62%
SH
ProShares Short S&P500		-6.39%-11.35%-13.52%-14.80%18.98%-24.21%-25.09%-22.12%4.93%-17.36%

Correlation

The correlation between BRK-B and SH is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.12

Correlation (3Y)
Calculated over the trailing 3-year period

-0.34

Correlation (5Y)
Calculated over the trailing 5-year period

-0.52

Correlation (10Y)
Calculated over the trailing 10-year period

-0.61

Correlation (All Time)
Calculated using the full available price history since Jun 21, 2006

-0.63

Over the past year, the inverse relationship between BRK-B and SH has weakened: their correlation has moved from -0.63 to -0.12, meaning they move in opposite directions less often than they have historically.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Berkshire Hathaway Inc.

ProShares Short S&P500

Often compared with BRK-B:
BRK-B vs. SPYBRK-B vs. VOOBRK-B vs. BRK-ABRK-B vs. QQQBRK-B vs. ^NDXBRK-B vs. VTIBRK-B vs. VGT
Often compared with SH:
SH vs. SPYSH vs. SDSSH vs. SPDNSH vs. SCHDSH vs. SQQQSH vs. DOGSH vs. IVOL

Return for Risk

BRK-B vs. SH — 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: 3939
Overall Rank
BRK-B Sharpe Ratio Rank: 4242
Sharpe Ratio Rank
BRK-B Sortino Ratio Rank: 3434
Sortino Ratio Rank
BRK-B Omega Ratio Rank: 3333
Omega Ratio Rank
BRK-B Calmar Ratio Rank: 4242
Calmar Ratio Rank
BRK-B Martin Ratio Rank: 4242
Martin Ratio Rank
SH
SH Risk / Return Rank: 11
Overall Rank
SH Sharpe Ratio Rank: 00
Sharpe Ratio Rank
SH Sortino Ratio Rank: 11
Sortino Ratio Rank
SH Omega Ratio Rank: 11
Omega Ratio Rank
SH Calmar Ratio Rank: 22
Calmar Ratio Rank
SH Martin Ratio Rank: 11
Martin Ratio Rank
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. SH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and ProShares Short S&P500 (SH). 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-BSHDifference
Sharpe ratioReturn per unit of total volatility
-0.02
-1.22

+1.20

Sortino ratioReturn per unit of downside risk
0.08
-1.75

+1.83

Omega ratioGain probability vs. loss probability

1.01

0.81

+0.20

Calmar ratioReturn relative to maximum drawdown

-0.02

-0.82

+0.80

Martin ratioReturn relative to average drawdown

-0.05

-1.47

+1.42

BRK-B vs. SH - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.02, which is higher than the SH Sharpe Ratio of -1.22. The chart below compares the historical Sharpe Ratios of BRK-B and SH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

BRK-B vs. SH - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, smaller than the maximum SH drawdown of -94.66%. Use the drawdown chart below to compare losses from any high point for BRK-B and SH.

Loading charts...

Drawdown Indicators

BRK-BSHDifference

Max Drawdown

Largest peak-to-trough decline

-53.86%

-94.66%

+40.80%

Max Drawdown (1Y)

Largest decline over 1 year

-9.42%

-18.16%

+8.74%

Max Drawdown (3Y)

Largest decline over 3 years

-14.95%

-38.82%

+23.87%

Max Drawdown (5Y)

Largest decline over 5 years

-26.58%

-44.53%

+17.95%

Max Drawdown (10Y)

Largest decline over 10 years

-29.57%

-76.12%

+46.55%

Current Drawdown

Current decline from peak

-9.36%

-94.53%

+85.17%

Average Drawdown

Average peak-to-trough decline

-11.07%

-67.75%

+56.68%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.53%

10.13%

-5.60%

Volatility

BRK-B vs. SH - Volatility Comparison

The current volatility for Berkshire Hathaway Inc. (BRK-B) is 3.95%, while ProShares Short S&P500 (SH) has a volatility of 4.33%. This indicates that BRK-B experiences smaller price fluctuations and is considered to be less risky than SH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

BRK-BSHDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.95%

4.33%

-0.38%

Volatility (6M)

Calculated over the trailing 6-month period

10.78%

9.59%

+1.19%

Volatility (1Y)

Calculated over the trailing 1-year period

14.38%

12.28%

+2.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.12%

16.91%

+0.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.44%

18.04%

+1.40%

Dividends

BRK-B vs. SH - Dividend Comparison

BRK-B has not paid dividends to shareholders, while SH's dividend yield for the trailing twelve months is around 4.43%.

PositionTTM202520242023202220212020201920182017
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%
SH
ProShares Short S&P500		4.43%4.49%6.20%5.37%1.08%0.00%0.16%1.76%1.01%0.06%

Frequently Asked Questions

BRK-B and SH have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SH has higher volatility (4.33%) compared to BRK-B (3.95%). In terms of maximum drawdown, BRK-B dropped -53.86% vs SH's -94.66%.

BRK-B currently has the higher Sharpe Ratio (-0.02 vs -1.22), 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.

Portfolio Optimizer

Find the right allocation for BRK-B and SH

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer