FTLS vs. BRK-B

Last updated Aug 1, 2026

FTLS (First Trust Long/Short Equity ETF) is Long-Short fund actively managed by First Trust, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, FTLS returned 9.59%/yr vs 13.57%/yr for BRK-B. Their 0.55 correlation means they have sometimes moved together and sometimes differently.

Performance

FTLS vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Long/Short Equity ETF (FTLS) 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, FTLS achieves a 6.03% return, which is significantly higher than BRK-B's 1.77% return. Over the past 10 years, FTLS has underperformed BRK-B with an annualized return of 9.59%, while BRK-B has yielded a comparatively higher 13.57% annualized return.

FTLS

• 1D: -0.31%
• 1M: 1.85%
• 6M: 4.95%
• YTD: 6.03%
• 1Y: 13.39%
• 3Y*: 13.13%
• 5Y*: 10.06%
• 10Y*: 9.59%
• ALL TIME*: 9.00%

BRK-B

• 1D: 0.36%
• 1M: 2.36%
• 6M: 6.45%
• YTD: 1.77%
• 1Y: 8.40%
• 3Y*: 13.24%
• 5Y*: 12.95%
• 10Y*: 13.57%
• ALL TIME*: 10.71%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRK-B Berkshire Hathaway Inc.	$2.04B	$2.04B	$2.42B
FTLS First Trust Long/Short Equity ETF	$8.26M	$8.04M	$8.94M

FTLS vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTLS First Trust Long/Short Equity ETF	6.03%	9.09%	18.80%	16.94%	-5.56%	19.65%	2.56%	16.16%	-4.81%	14.41%
BRK-B Berkshire Hathaway Inc.	1.77%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between FTLS and BRK-B is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (3Y) Balances recent behavior with more history.	0.33
Correlation (5Y) Shows whether the relationship held over a longer period.	0.46
Correlation (10Y) Provides a long-term view across more market conditions.	0.52
Correlation (All Time) Calculated using the full available price history since Sep 10, 2014	0.55

Over the past year, the correlation between FTLS and BRK-B has dropped to 0.16 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

Return for Risk

FTLS vs. BRK-B — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTLS

FTLS Risk / Return Rank: 75
FTLS Sharpe Ratio Rank: 69
FTLS Sortino Ratio Rank: 70
FTLS Omega Ratio Rank: 67
FTLS Calmar Ratio Rank: 88
FTLS Martin Ratio Rank: 82

BRK-B

BRK-B Risk / Return Rank: 61
BRK-B Sharpe Ratio Rank: 65
BRK-B Sortino Ratio Rank: 56
BRK-B Omega Ratio Rank: 55
BRK-B Calmar Ratio Rank: 65
BRK-B Martin Ratio Rank: 64

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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

This table presents a comparison of risk-adjusted performance metrics for First Trust Long/Short Equity ETF (FTLS) 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.

	FTLS	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.57	0.57	+1.00
Sortino ratio: Return per unit of downside risk	2.28	0.89	+1.39
Omega ratio: Gain probability vs. loss probability	1.28	1.11	+0.17
Calmar ratio: Return relative to maximum drawdown	3.55	0.90	+2.65
Martin ratio: Return relative to average drawdown	10.80	1.88	+8.92

FTLS vs. BRK-B - Sharpe Ratio Comparison

The current FTLS Sharpe Ratio is 1.57, which is higher than the BRK-B Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of FTLS 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

FTLS vs. BRK-B - Drawdown Comparison

The maximum FTLS drawdown since its inception was -20.54%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for FTLS and BRK-B.

Drawdown Indicators

	FTLS	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-20.54%	-53.86%	+33.32%
Max Drawdown (1Y) Largest decline over 1 year	-3.79%	-9.42%	+5.63%
Max Drawdown (3Y) Largest decline over 3 years	-11.69%	-14.95%	+3.26%
Max Drawdown (5Y) Largest decline over 5 years	-11.69%	-26.58%	+14.89%
Max Drawdown (10Y) Largest decline over 10 years	-20.54%	-29.57%	+9.03%
Current Drawdown Current decline from peak	-0.42%	-5.24%	+4.82%
Average Drawdown Average peak-to-trough decline	-2.67%	-11.06%	+8.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	4.49%	-3.25%

Volatility

FTLS vs. BRK-B - Volatility Comparison

The current volatility for First Trust Long/Short Equity ETF (FTLS) is 2.15%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 4.59%. This indicates that FTLS 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.

Volatility by Period

	FTLS	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.15%	4.59%	-2.44%
Volatility (6M) Calculated over the trailing 6-month period	5.86%	11.13%	-5.27%
Volatility (1Y) Calculated over the trailing 1-year period	8.54%	14.79%	-6.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.53%	17.12%	-6.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.23%	19.42%	-8.19%

Dividends

FTLS vs. BRK-B - Dividend Comparison

FTLS's dividend yield for the trailing twelve months is around 0.88%, while BRK-B has not paid dividends to shareholders.

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%
FTLS First Trust Long/Short Equity ETF	0.88%	1.07%	1.50%	1.49%	0.81%	0.01%	0.44%	0.83%	0.87%	0.43%	1.04%	0.49%

Frequently Asked Questions

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

FTLS and BRK-B have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTLS or BRK-B?

BRK-B has higher volatility (4.59%) compared to FTLS (2.15%). In terms of maximum drawdown, FTLS dropped -20.54% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

FTLS currently has the higher Sharpe Ratio (1.57 vs 0.57), 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.