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BRK-B vs. SPY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BRK-B vs. SPY

Last updated Jun 13, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while SPY (State Street SPDR S&P 500 ETF) is S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, BRK-B returned 13.22%/yr vs 15.42%/yr for SPY. At a 0.50 correlation, their price movements are largely independent.

Performance

BRK-B vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BRK-B achieves a -2.67% return, which is significantly lower than SPY's 9.07% return. Over the past 10 years, BRK-B has underperformed SPY with an annualized return of 13.22%, while SPY has yielded a comparatively higher 15.42% 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%

SPY

1D
0.54%
1M
-0.08%
YTD
9.07%
6M
9.42%
1Y
24.27%
3Y*
20.86%
5Y*
13.36%
10Y*
15.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

BRK-B vs. SPY - 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%
SPY
State Street SPDR S&P 500 ETF		9.07%17.72%24.89%26.18%-18.18%28.73%18.33%31.22%-4.57%21.71%

Correlation

The correlation between BRK-B and SPY is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.12

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 May 9, 1996

0.50

Over the past year, the correlation between BRK-B and SPY has dropped to 0.12 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

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Berkshire Hathaway Inc.

State Street SPDR S&P 500 ETF

Often compared with BRK-B:
BRK-B vs. VOOBRK-B vs. BRK-ABRK-B vs. QQQBRK-B vs. ^NDXBRK-B vs. VTIBRK-B vs. VGTBRK-B vs. ARKK
Often compared with SPY:
SPY vs. QQQSPY vs. VOOSPY vs. RSPSPY vs. VTISPY vs. SCHDSPY vs. GLDSPY vs. FXAIX

Return for Risk

BRK-B vs. SPY — 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
SPY
SPY Risk / Return Rank: 7070
Overall Rank
SPY Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
SPY Sortino Ratio Rank: 6969
Sortino Ratio Rank
SPY Omega Ratio Rank: 7171
Omega Ratio Rank
SPY Calmar Ratio Rank: 6363
Calmar Ratio Rank
SPY Martin Ratio Rank: 7676
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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and State Street SPDR S&P 500 ETF (SPY). 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-BSPYDifference
Sharpe ratioReturn per unit of total volatility
-0.02
1.98

-2.00

Sortino ratioReturn per unit of downside risk
0.08
2.68

-2.61

Omega ratioGain probability vs. loss probability

1.01

1.36

-0.35

Calmar ratioReturn relative to maximum drawdown

-0.02

2.74

-2.77

Martin ratioReturn relative to average drawdown

-0.05

12.39

-12.44

BRK-B vs. SPY - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.02, which is lower than the SPY Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of BRK-B and SPY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BRK-B vs. SPY - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BRK-B and SPY.

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Drawdown Indicators

BRK-BSPYDifference

Max Drawdown

Largest peak-to-trough decline

-53.86%

-55.19%

+1.33%

Max Drawdown (1Y)

Largest decline over 1 year

-9.42%

-8.88%

-0.54%

Max Drawdown (3Y)

Largest decline over 3 years

-14.95%

-18.76%

+3.81%

Max Drawdown (5Y)

Largest decline over 5 years

-26.58%

-24.50%

-2.08%

Max Drawdown (10Y)

Largest decline over 10 years

-29.57%

-33.72%

+4.15%

Current Drawdown

Current decline from peak

-9.36%

-2.35%

-7.01%

Average Drawdown

Average peak-to-trough decline

-11.07%

-9.04%

-2.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.53%

1.97%

+2.56%

Volatility

BRK-B vs. SPY - Volatility Comparison

The current volatility for Berkshire Hathaway Inc. (BRK-B) is 3.95%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 4.34%. This indicates that BRK-B experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BRK-BSPYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.95%

4.34%

-0.39%

Volatility (6M)

Calculated over the trailing 6-month period

10.78%

9.58%

+1.20%

Volatility (1Y)

Calculated over the trailing 1-year period

14.38%

12.29%

+2.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.12%

17.12%

0.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.44%

17.96%

+1.48%

Dividends

BRK-B vs. SPY - Dividend Comparison

BRK-B has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.00%.

PositionTTM20252024202320222021202020192018201720162015
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%
SPY
State Street SPDR S&P 500 ETF		1.00%1.07%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%

Frequently Asked Questions

BRK-B and SPY 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.

SPY has higher volatility (4.34%) compared to BRK-B (3.95%). In terms of maximum drawdown, BRK-B dropped -53.86% vs SPY's -55.19%.

SPY currently has the higher Sharpe Ratio (1.98 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.

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