BWEB vs. BRK-A

Last updated Apr 2, 2026

Compare and contrast key facts about Bitwise Web3 ETF (BWEB) and Berkshire Hathaway Inc (BRK-A).

BWEB is a passively managed fund by Bitwise that tracks the performance of the Bitwise Web3 Equities Index - Benchmark TR Gross. It was launched on Oct 4, 2022.

Performance

BWEB vs. BRK-A - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bitwise Web3 ETF (BWEB) and Berkshire Hathaway Inc (BRK-A). The values are adjusted to include any dividend payments, if applicable.

BWEB vs. BRK-A - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BWEB Bitwise Web3 ETF	-9.74%	27.61%	27.37%	98.17%	-18.17%
BRK-A Berkshire Hathaway Inc	-5.11%	10.85%	25.49%	15.77%	10.50%

Returns By Period

In the year-to-date period, BWEB achieves a -9.74% return, which is significantly lower than BRK-A's -5.11% return.

BWEB

• 1D: 0.59%
• 1M: -5.00%
• YTD: -9.74%
• 6M: -21.44%
• 1Y: 29.34%
• 3Y*: 29.25%
• 5Y*: —
• 10Y*: —

BRK-A

• 1D: -0.26%
• 1M: -0.52%
• YTD: -5.11%
• 6M: -3.97%
• 1Y: -10.50%
• 3Y*: 15.44%
• 5Y*: 12.91%
• 10Y*: 12.75%

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

Return for Risk

BWEB vs. BRK-A — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BWEB

BWEB Risk / Return Rank: 37
BWEB Sharpe Ratio Rank: 39
BWEB Sortino Ratio Rank: 45
BWEB Omega Ratio Rank: 38
BWEB Calmar Ratio Rank: 36
BWEB Martin Ratio Rank: 27

BRK-A

BRK-A Risk / Return Rank: 16
BRK-A Sharpe Ratio Rank: 15
BRK-A Sortino Ratio Rank: 15
BRK-A Omega Ratio Rank: 15
BRK-A Calmar Ratio Rank: 16
BRK-A Martin Ratio Rank: 18

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.

BWEB vs. BRK-A - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bitwise Web3 ETF (BWEB) and Berkshire Hathaway Inc (BRK-A). 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.

	BWEB	BRK-A	Difference
Sharpe ratio Return per unit of total volatility	0.78	-0.60	+1.38
Sortino ratio Return per unit of downside risk	1.30	-0.70	+2.00
Omega ratio Gain probability vs. loss probability	1.16	0.90	+0.26
Calmar ratio Return relative to maximum drawdown	1.02	-0.71	+1.73
Martin ratio Return relative to average drawdown	2.41	-1.19	+3.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BWEB vs. BRK-A - Sharpe Ratio Comparison

The current BWEB Sharpe Ratio is 0.78, which is higher than the BRK-A Sharpe Ratio of -0.60. The chart below compares the historical Sharpe Ratios of BWEB and BRK-A, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BWEB	BRK-A	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.78	-0.60	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.75	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.82	-0.04

Correlation

The correlation between BWEB and BRK-A is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

BWEB vs. BRK-A - Dividend Comparison

Neither BWEB nor BRK-A has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

BWEB vs. BRK-A - Drawdown Comparison

The maximum BWEB drawdown since its inception was -33.74%, smaller than the maximum BRK-A drawdown of -51.47%. Use the drawdown chart below to compare losses from any high point for BWEB and BRK-A.

Drawdown Indicators

	BWEB	BRK-A	Difference
Max Drawdown Largest peak-to-trough decline	-33.74%	-51.47%	+17.73%
Max Drawdown (1Y) Largest decline over 1 year	-31.61%	-14.43%	-17.18%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.98%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-30.43%	—
Current Drawdown Current decline from peak	-27.47%	-11.50%	-15.97%
Average Drawdown Average peak-to-trough decline	-9.44%	-9.51%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.37%	8.66%	+4.71%

Volatility

BWEB vs. BRK-A - Volatility Comparison

Bitwise Web3 ETF (BWEB) has a higher volatility of 12.13% compared to Berkshire Hathaway Inc (BRK-A) at 4.28%. This indicates that BWEB's price experiences larger fluctuations and is considered to be riskier than BRK-A based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BWEB	BRK-A	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.13%	4.28%	+7.85%
Volatility (6M) Calculated over the trailing 6-month period	27.57%	11.04%	+16.53%
Volatility (1Y) Calculated over the trailing 1-year period	37.69%	17.63%	+20.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.42%	17.26%	+19.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.42%	18.99%	+17.43%