BRK-B vs. XME

Last updated Jun 13, 2026

BRK-B (Berkshire Hathaway Inc.) is a stock, while XME (SPDR S&P Metals & Mining ETF) is Materials fund tracking the S&P Metals & Mining Select Industry Index. Over the past 10 years, BRK-B returned 13.22%/yr vs 19.60%/yr for XME. At a 0.42 correlation, their price movements are largely independent.

Performance

BRK-B vs. XME - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Hathaway Inc. (BRK-B) and SPDR S&P Metals & Mining ETF (XME). 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 XME's 16.32% return. Over the past 10 years, BRK-B has underperformed XME with an annualized return of 13.22%, while XME has yielded a comparatively higher 19.60% annualized return.

BRK-B

• 1D: 0.71%
• 1M: 1.36%
• YTD: -2.67%
• 6M: -2.06%
• 1Y: 0.35%
• 3Y*: 13.30%
• 5Y*: 11.27%
• 10Y*: 13.22%

XME

• 1D: 1.77%
• 1M: -0.44%
• YTD: 16.32%
• 6M: 18.13%
• 1Y: 85.07%
• 3Y*: 35.23%
• 5Y*: 21.78%
• 10Y*: 19.60%

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

BRK-B vs. XME - 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%
XME SPDR S&P Metals & Mining ETF	16.32%	83.47%	-4.54%	21.51%	13.13%	34.92%	15.95%	14.69%	-26.78%	21.17%

Correlation

The correlation between BRK-B and XME 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	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006	0.42

The correlation between BRK-B and XME shifts across timeframes, from -0.06 (1 year) to 0.43 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BRK-B vs. XME — 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

XME

XME Risk / Return Rank: 75
XME Sharpe Ratio Rank: 86
XME Sortino Ratio Rank: 74
XME Omega Ratio Rank: 73
XME Calmar Ratio Rank: 82
XME Martin Ratio Rank: 61

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. XME - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Hathaway Inc. (BRK-B) and SPDR S&P Metals & Mining ETF (XME). 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	XME	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	2.41	-2.42
Sortino ratio: Return per unit of downside risk	0.08	2.86	-2.78
Omega ratio: Gain probability vs. loss probability	1.01	1.37	-0.36
Calmar ratio: Return relative to maximum drawdown	-0.02	3.84	-3.87
Martin ratio: Return relative to average drawdown	-0.05	9.58	-9.63

BRK-B vs. XME - Sharpe Ratio Comparison

The current BRK-B Sharpe Ratio is -0.02, which is lower than the XME Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of BRK-B and XME, 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. XME - Drawdown Comparison

The maximum BRK-B drawdown since its inception was -53.86%, smaller than the maximum XME drawdown of -85.89%. Use the drawdown chart below to compare losses from any high point for BRK-B and XME.

Drawdown Indicators

	BRK-B	XME	Difference
Max Drawdown Largest peak-to-trough decline	-53.86%	-85.89%	+32.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.42%	-22.60%	+13.18%
Max Drawdown (3Y) Largest decline over 3 years	-14.95%	-30.47%	+15.52%
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	-37.27%	+10.69%
Max Drawdown (10Y) Largest decline over 10 years	-29.57%	-61.69%	+32.12%
Current Drawdown Current decline from peak	-9.36%	-9.33%	-0.03%
Average Drawdown Average peak-to-trough decline	-11.07%	-44.09%	+33.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.53%	9.05%	-4.52%

Volatility

BRK-B vs. XME - Volatility Comparison

The current volatility for Berkshire Hathaway Inc. (BRK-B) is 3.95%, while SPDR S&P Metals & Mining ETF (XME) has a volatility of 15.26%. This indicates that BRK-B experiences smaller price fluctuations and is considered to be less risky than XME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BRK-B	XME	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	15.26%	-11.31%
Volatility (6M) Calculated over the trailing 6-month period	10.78%	28.51%	-17.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	36.11%	-21.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.12%	32.84%	-15.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.44%	32.96%	-13.52%

Dividends

BRK-B vs. XME - Dividend Comparison

BRK-B has not paid dividends to shareholders, while XME's dividend yield for the trailing twelve months is around 0.32%.

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%
XME SPDR S&P Metals & Mining ETF	0.32%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

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

BRK-B and XME 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 XME?

XME has higher volatility (15.26%) compared to BRK-B (3.95%). In terms of maximum drawdown, BRK-B dropped -53.86% vs XME's -85.89%.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (2.41 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.