BRK-B vs. SMH

Last updated Jun 13, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while SMH (VanEck Semiconductor ETF) is Semiconductors fund tracking the MVIS US Listed Semiconductor 25 Index. Over the past 10 years, BRK-B returned 13.22%/yr vs 37.49%/yr for SMH. At a 0.34 correlation, their price movements are largely independent.

Performance

BRK-B vs. SMH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and VanEck Semiconductor ETF (SMH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BRK-B achieves a -2.67% return, which is significantly lower than SMH's 72.15% return. Over the past 10 years, BRK-B has underperformed SMH with an annualized return of 13.22%, while SMH has yielded a comparatively higher 37.49% annualized return.

BRK-B

• 1D: 0.71%
• 1M: 0.77%
• YTD: -2.67%
• 6M: -2.06%
• 1Y: -0.22%
• 3Y*: 13.30%
• 5Y*: 11.27%
• 10Y*: 13.22%

SMH

• 1D: 1.72%
• 1M: 8.30%
• YTD: 72.15%
• 6M: 75.62%
• 1Y: 136.32%
• 3Y*: 60.05%
• 5Y*: 38.42%
• 10Y*: 37.49%

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

BRK-B vs. SMH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SMH VanEck Semiconductor ETF	72.15%	49.17%	39.10%	73.38%	-33.53%	42.13%	55.53%	64.45%	-9.05%	38.48%

Correlation

The correlation between BRK-B and SMH is -0.14, 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	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.24
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Jun 5, 2000	0.34

The correlation between BRK-B and SMH shifts across timeframes, from -0.14 (1 year) to 0.35 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BRK-B vs. SMH — 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: 39
BRK-B Sharpe Ratio Rank: 42
BRK-B Sortino Ratio Rank: 34
BRK-B Omega Ratio Rank: 33
BRK-B Calmar Ratio Rank: 42
BRK-B Martin Ratio Rank: 42

SMH

SMH Risk / Return Rank: 96
SMH Sharpe Ratio Rank: 97
SMH Sortino Ratio Rank: 94
SMH Omega Ratio Rank: 94
SMH Calmar Ratio Rank: 97
SMH Martin Ratio Rank: 96

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. SMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and VanEck Semiconductor ETF (SMH). 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	SMH	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	4.13	-4.15
Sortino ratio: Return per unit of downside risk	0.08	4.26	-4.19
Omega ratio: Gain probability vs. loss probability	1.01	1.60	-0.59
Calmar ratio: Return relative to maximum drawdown	-0.02	9.18	-9.21
Martin ratio: Return relative to average drawdown	-0.05	33.74	-33.79

BRK-B vs. SMH - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.02, which is lower than the SMH Sharpe Ratio of 4.13. The chart below compares the historical Sharpe Ratios of BRK-B and SMH, 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. SMH - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, smaller than the maximum SMH drawdown of -84.96%. Use the drawdown chart below to compare losses from any high point for BRK-B and SMH.

Drawdown Indicators

	BRK-B	SMH	Difference
Max Drawdown Largest peak-to-trough decline	-53.86%	-84.96%	+31.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-14.93%	+5.51%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-35.74%	+20.79%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-45.30%	+18.72%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-45.30%	+15.73%
Current Drawdown Current decline from peak	-9.36%	-2.81%	-6.55%
Average Drawdown Average peak-to-trough decline	-11.07%	-41.04%	+29.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	4.06%	+0.47%

Volatility

BRK-B vs. SMH - Volatility Comparison

The current volatility for Berkshire Hathaway Inc. (BRK-B) is 3.95%, while VanEck Semiconductor ETF (SMH) has a volatility of 16.25%. This indicates that BRK-B experiences smaller price fluctuations and is considered to be less risky than SMH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK-B	SMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	16.25%	-12.30%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	27.73%	-16.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	33.20%	-18.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	35.47%	-18.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	32.82%	-13.38%

Dividends

BRK-B vs. SMH - Dividend Comparison

BRK-B has not paid dividends to shareholders, while SMH's dividend yield for the trailing twelve months is around 0.18%.

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%
SMH VanEck Semiconductor ETF	0.18%	0.31%	0.44%	0.60%	1.18%	0.51%	0.69%	1.50%	1.88%	1.43%	0.80%	2.14%

Frequently Asked Questions

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

BRK-B and SMH have a correlation of -0.14, 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 SMH?

SMH has higher volatility (16.25%) compared to BRK-B (3.95%). In terms of maximum drawdown, BRK-B dropped -53.86% vs SMH's -84.96%.

Which has better risk-adjusted returns?

SMH currently has the higher Sharpe Ratio (4.13 vs -0.02), 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.