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

CDZ.TO vs. BRK-B

Last updated Jun 4, 2026

CDZ.TO (iShares S&P/TSX Canadian Dividend Aristocrats Index ETF) is Canada Equities fund tracking the Morningstar Canada GR CAD, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, CDZ.TO returned 9.44%/yr vs 13.59%/yr for BRK-B. At a 0.35 correlation, their price movements are largely independent.

Performance

CDZ.TO vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

CDZ.TO is traded in CAD, while BRK-B is traded in USD. To make them comparable, the BRK-B values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, CDZ.TO achieves a 13.46% return, which is significantly higher than BRK-B's -5.39% return. Over the past 10 years, CDZ.TO has underperformed BRK-B with an annualized return of 9.44%, while BRK-B has yielded a comparatively higher 13.59% annualized return.

CDZ.TO

1D
0.00%
1M
3.31%
YTD
13.46%
6M
10.74%
1Y
22.32%
3Y*
16.81%
5Y*
10.31%
10Y*
9.44%

BRK-B

1D
0.00%
1M
2.23%
YTD
-5.39%
6M
-7.11%
1Y
-4.45%
3Y*
13.85%
5Y*
13.07%
10Y*
13.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CDZ.TO vs. BRK-B - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CDZ.TO
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF		13.46%13.45%17.86%8.98%-4.43%22.80%-3.27%25.68%-8.84%4.92%
BRK-B
Berkshire Hathaway Inc.		-4.22%5.81%38.01%12.92%10.67%27.79%0.64%5.48%11.74%13.88%

Correlation

The correlation between CDZ.TO and BRK-B is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.26

Correlation (3Y)
Calculated over the trailing 3-year period

0.28

Correlation (5Y)
Calculated over the trailing 5-year period

0.37

Correlation (10Y)
Calculated over the trailing 10-year period

0.38

Correlation (All Time)
Calculated using the full available price history since Jun 23, 2009

0.35

The correlation between CDZ.TO and BRK-B shifts across timeframes, from 0.26 (1 year) to 0.38 (10 years), reflecting how their relationship changes across market environments.

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iShares S&P/TSX Canadian Dividend Aristocrats Index ETF

Berkshire Hathaway Inc.

Often compared with CDZ.TO:
CDZ.TO vs. VDY.TOCDZ.TO vs. XDIV.TOCDZ.TO vs. XEI.TOCDZ.TO vs. XDV.TOCDZ.TO vs. XEQT.TOCDZ.TO vs. CUD.TOCDZ.TO vs. VEQT.TO
Often compared with BRK-B:
BRK-B vs. SPYBRK-B vs. VOOBRK-B vs. BRK-ABRK-B vs. QQQBRK-B vs. ^NDXBRK-B vs. VTIBRK-B vs. VGT

Return for Risk

CDZ.TO vs. BRK-B — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CDZ.TO
CDZ.TO Risk / Return Rank: 8484
Overall Rank
CDZ.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
CDZ.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
CDZ.TO Omega Ratio Rank: 8888
Omega Ratio Rank
CDZ.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
CDZ.TO Martin Ratio Rank: 8686
Martin Ratio Rank
BRK-B
BRK-B Risk / Return Rank: 2323
Overall Rank
BRK-B Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
BRK-B Sortino Ratio Rank: 2222
Sortino Ratio Rank
BRK-B Omega Ratio Rank: 2323
Omega Ratio Rank
BRK-B Calmar Ratio Rank: 2424
Calmar Ratio Rank
BRK-B Martin Ratio Rank: 2020
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.

CDZ.TO vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) and Berkshire Hathaway Inc. (BRK-B). 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.

CDZ.TOBRK-BDifference
Sharpe ratioReturn per unit of total volatility
2.72
-0.30

+3.01

Sortino ratioReturn per unit of downside risk
3.53
-0.31

+3.84

Omega ratioGain probability vs. loss probability

1.56

0.96

+0.60

Calmar ratioReturn relative to maximum drawdown

5.46

-0.37

+5.83

Martin ratioReturn relative to average drawdown

18.49

-0.80

+19.30

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CDZ.TO vs. BRK-B - Sharpe Ratio Comparison

The current CDZ.TO Sharpe Ratio is 2.72, which is higher than the BRK-B Sharpe Ratio of -0.30. The chart below compares the historical Sharpe Ratios of CDZ.TO and BRK-B, 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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Sharpe Ratios by Period

CDZ.TOBRK-BDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.72

-0.30

+3.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.95

0.82

+0.14

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.65

0.74

-0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.52

0.83

-0.31

Drawdowns

CDZ.TO vs. BRK-B - Drawdown Comparison

The maximum CDZ.TO drawdown since its inception was -49.33%, which is greater than BRK-B's maximum drawdown of -22.96%. Use the drawdown chart below to compare losses from any high point for CDZ.TO and BRK-B.

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Drawdown Indicators

CDZ.TOBRK-BDifference

Max Drawdown

Largest peak-to-trough decline

-49.33%

-22.96%

-26.37%

Max Drawdown (1Y)

Largest decline over 1 year

-4.11%

-11.97%

+7.86%

Max Drawdown (3Y)

Largest decline over 3 years

-12.99%

-17.44%

+4.45%

Max Drawdown (5Y)

Largest decline over 5 years

-17.15%

-22.78%

+5.63%

Max Drawdown (10Y)

Largest decline over 10 years

-45.70%

-22.96%

-22.74%

Current Drawdown

Current decline from peak

-0.09%

-14.83%

+14.74%

Average Drawdown

Average peak-to-trough decline

-6.14%

-5.29%

-0.85%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.21%

5.65%

-4.44%

Volatility

CDZ.TO vs. BRK-B - Volatility Comparison

The current volatility for iShares S&P/TSX Canadian Dividend Aristocrats Index ETF (CDZ.TO) is 1.88%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.83%. This indicates that CDZ.TO experiences smaller price fluctuations and is considered to be less risky than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CDZ.TOBRK-BDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.88%

3.83%

-1.95%

Volatility (6M)

Calculated over the trailing 6-month period

6.91%

11.43%

-4.52%

Volatility (1Y)

Calculated over the trailing 1-year period

8.26%

15.08%

-6.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

10.86%

16.09%

-5.23%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.63%

18.31%

-3.68%

Dividends

CDZ.TO vs. BRK-B - Dividend Comparison

CDZ.TO's dividend yield for the trailing twelve months is around 3.07%, while BRK-B has not paid dividends to shareholders.

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%
CDZ.TO
iShares S&P/TSX Canadian Dividend Aristocrats Index ETF		3.07%3.46%3.56%3.71%3.67%2.95%3.70%3.68%4.37%3.43%3.51%3.72%

Frequently Asked Questions

CDZ.TO and BRK-B have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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