BRK-B vs. SPYD

Last updated Jun 13, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) is S&P 500 fund tracking the S&P 500 High Dividend Index. Over the past 10 years, BRK-B returned 13.22%/yr vs 9.09%/yr for SPYD. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

BRK-B vs. SPYD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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 SPYD's 14.73% return. Over the past 10 years, BRK-B has outperformed SPYD with an annualized return of 13.22%, while SPYD has yielded a comparatively lower 9.09% 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%

SPYD

• 1D: 1.05%
• 1M: 5.32%
• YTD: 14.73%
• 6M: 14.21%
• 1Y: 20.93%
• 3Y*: 14.69%
• 5Y*: 7.64%
• 10Y*: 9.09%

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

BRK-B vs. SPYD - 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%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	14.73%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%

Correlation

The correlation between BRK-B and SPYD is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 22, 2015	0.66

Over the past year, the correlation between BRK-B and SPYD has dropped to 0.44 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

BRK-B vs. SPYD — 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

SPYD

SPYD Risk / Return Rank: 58
SPYD Sharpe Ratio Rank: 57
SPYD Sortino Ratio Rank: 63
SPYD Omega Ratio Rank: 52
SPYD Calmar Ratio Rank: 64
SPYD Martin Ratio Rank: 54

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. SPYD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD). 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	SPYD	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	1.69	-1.70
Sortino ratio: Return per unit of downside risk	0.08	2.53	-2.45
Omega ratio: Gain probability vs. loss probability	1.01	1.29	-0.28
Calmar ratio: Return relative to maximum drawdown	-0.02	2.80	-2.82
Martin ratio: Return relative to average drawdown	-0.05	8.14	-8.19

BRK-B vs. SPYD - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.02, which is lower than the SPYD Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of BRK-B and SPYD, 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. SPYD - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, which is greater than SPYD's maximum drawdown of -46.42%. Use the drawdown chart below to compare losses from any high point for BRK-B and SPYD.

Drawdown Indicators

	BRK-B	SPYD	Difference
Max Drawdown Largest peak-to-trough decline	-53.86%	-46.42%	-7.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-7.05%	-2.37%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-16.13%	+1.18%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-22.25%	-4.33%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-46.42%	+16.85%
Current Drawdown Current decline from peak	-9.36%	0.00%	-9.36%
Average Drawdown Average peak-to-trough decline	-11.07%	-6.15%	-4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	2.42%	+2.11%

Volatility

BRK-B vs. SPYD - Volatility Comparison

Berkshire Hathaway Inc. (BRK-B) has a higher volatility of 3.95% compared to State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) at 2.92%. This indicates that BRK-B's price experiences larger fluctuations and is considered to be riskier than SPYD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK-B	SPYD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	2.92%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	7.74%	+3.04%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	11.70%	+2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	16.15%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	19.78%	-0.34%

Dividends

BRK-B vs. SPYD - Dividend Comparison

BRK-B has not paid dividends to shareholders, while SPYD's dividend yield for the trailing twelve months is around 4.05%.

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%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.05%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%

Frequently Asked Questions

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

BRK-B and SPYD have a correlation of 0.44, 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 SPYD?

BRK-B has higher volatility (3.95%) compared to SPYD (2.92%). In terms of maximum drawdown, BRK-B dropped -53.86% vs SPYD's -46.42%.

Which has better risk-adjusted returns?

SPYD currently has the higher Sharpe Ratio (1.69 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.