DOG vs. BRK-B

Last updated Jun 14, 2026

DOG (ProShares Short Dow30) is Inverse Equities fund tracking the DJ Industrial Average (-100%), while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, DOG returned -11.31%/yr vs 13.22%/yr for BRK-B. At a correlation of -0.66, they often move in opposite directions.

Performance

DOG vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Short Dow30 (DOG) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DOG achieves a -4.92% return, which is significantly lower than BRK-B's -2.67% return. Over the past 10 years, DOG has underperformed BRK-B with an annualized return of -11.31%, while BRK-B has yielded a comparatively higher 13.22% annualized return.

DOG

• 1D: -0.63%
• 1M: -2.03%
• YTD: -4.92%
• 6M: -3.86%
• 1Y: -14.29%
• 3Y*: -8.19%
• 5Y*: -5.62%
• 10Y*: -11.31%

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%

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

DOG vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DOG ProShares Short Dow30	-4.92%	-8.40%	-5.62%	-7.05%	5.67%	-19.21%	-20.45%	-18.43%	3.55%	-21.51%
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%

Correlation

The correlation between DOG and BRK-B is -0.33, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.33
Correlation (3Y) Calculated over the trailing 3-year period	-0.51
Correlation (5Y) Calculated over the trailing 5-year period	-0.64
Correlation (10Y) Calculated over the trailing 10-year period	-0.70
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006	-0.66

Over the past year, the inverse relationship between DOG and BRK-B has weakened: their correlation has moved from -0.66 to -0.33, meaning they move in opposite directions less often than they have historically.

Return for Risk

DOG vs. BRK-B — Risk / Return Rank

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

DOG

DOG Risk / Return Rank: 2
DOG Sharpe Ratio Rank: 1
DOG Sortino Ratio Rank: 2
DOG Omega Ratio Rank: 2
DOG Calmar Ratio Rank: 2
DOG Martin Ratio Rank: 2

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

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.

DOG vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Short Dow30 (DOG) 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.

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.

	DOG	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	-1.01	-0.02	-1.00
Sortino ratio: Return per unit of downside risk	-1.37	0.08	-1.44
Omega ratio: Gain probability vs. loss probability	0.85	1.01	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.84	-0.02	-0.82
Martin ratio: Return relative to average drawdown	-1.38	-0.05	-1.33

DOG vs. BRK-B - Sharpe Ratio Comparison

The current DOG Sharpe Ratio is -1.01, which is lower than the BRK-B Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of DOG 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.

Drawdowns

DOG vs. BRK-B - Drawdown Comparison

The maximum DOG drawdown since its inception was -92.73%, which is greater than BRK-B's maximum drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for DOG and BRK-B.

Drawdown Indicators

	DOG	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-92.73%	-53.86%	-38.87%
Max Drawdown (1Y) Largest decline over 1 year	-15.09%	-9.42%	-5.67%
Max Drawdown (3Y) Largest decline over 3 years	-29.16%	-14.95%	-14.21%
Max Drawdown (5Y) Largest decline over 5 years	-34.35%	-26.58%	-7.77%
Max Drawdown (10Y) Largest decline over 10 years	-70.95%	-29.57%	-41.38%
Current Drawdown Current decline from peak	-92.67%	-9.36%	-83.31%
Average Drawdown Average peak-to-trough decline	-66.41%	-11.07%	-55.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.18%	4.53%	+4.65%

Volatility

DOG vs. BRK-B - Volatility Comparison

ProShares Short Dow30 (DOG) has a higher volatility of 4.36% compared to Berkshire Hathaway Inc. (BRK-B) at 3.95%. This indicates that DOG's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DOG	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	3.95%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	10.78%	-0.91%
Volatility (1Y) Calculated over the trailing 1-year period	12.56%	14.38%	-1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.86%	17.12%	-2.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	19.44%	-1.93%

Dividends

DOG vs. BRK-B - Dividend Comparison

DOG's dividend yield for the trailing twelve months is around 3.52%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
DOG ProShares Short Dow30	3.52%	3.65%	5.72%	4.54%	0.41%	0.00%	0.14%	1.54%	0.86%	0.04%

Frequently Asked Questions

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

DOG and BRK-B have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DOG or BRK-B?

DOG has higher volatility (4.36%) compared to BRK-B (3.95%). In terms of maximum drawdown, DOG dropped -92.73% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

BRK-B currently has the higher Sharpe Ratio (-0.02 vs -1.01), 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.