GAAVX vs. BRK-B
GAAVX (GMO Alternative Allocation Fund) is Multistrategy fund managed by GMO, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 5 years, GAAVX returned 2.47%/yr vs 10.06%/yr for BRK-B. At a 0.38 correlation, their price movements are largely independent.
Performance
GAAVX vs. BRK-B - Performance Comparison
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Returns By Period
In the year-to-date period, GAAVX achieves a 1.31% return, which is significantly higher than BRK-B's -6.20% return.
GAAVX
- 1D
- 0.27%
- 1M
- -0.48%
- YTD
- 1.31%
- 6M
- 3.15%
- 1Y
- 14.27%
- 3Y*
- 5.70%
- 5Y*
- 2.47%
- 10Y*
- —
BRK-B
- 1D
- 0.26%
- 1M
- -0.32%
- YTD
- -6.20%
- 6M
- -6.94%
- 1Y
- -6.23%
- 3Y*
- 12.69%
- 5Y*
- 10.06%
- 10Y*
- 12.82%
GAAVX vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GAAVX GMO Alternative Allocation Fund | 1.31% | 15.19% | -5.70% | 6.07% | 3.63% | -5.12% | -0.28% | 3.49% |
BRK-B Berkshire Hathaway Inc. | -6.20% | 10.89% | 27.09% | 15.46% | 3.31% | 28.95% | 2.37% | 8.60% |
Correlation
The correlation between GAAVX and BRK-B is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.32 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since May 10, 2019 | 0.38 |
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Return for Risk
GAAVX vs. BRK-B — Risk / Return Rank
GAAVX
BRK-B
GAAVX vs. BRK-B - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GMO Alternative Allocation Fund (GAAVX) 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.
| GAAVX | BRK-B | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.21 | -0.44 | +2.65 |
Sortino ratioReturn per unit of downside risk | 3.61 | -0.51 | +4.11 |
Omega ratioGain probability vs. loss probability | 1.42 | 0.94 | +0.48 |
Calmar ratioReturn relative to maximum drawdown | 4.07 | -0.68 | +4.76 |
Martin ratioReturn relative to average drawdown | 11.64 | -1.36 | +13.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GAAVX | BRK-B | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | -0.44 | +2.65 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.59 | -0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.41 | 0.48 | -0.06 |
Drawdowns
GAAVX vs. BRK-B - Drawdown Comparison
The maximum GAAVX drawdown since its inception was -9.59%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for GAAVX and BRK-B.
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Drawdown Indicators
| GAAVX | BRK-B | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.59% | -53.86% | +44.27% |
Max Drawdown (1Y)Largest decline over 1 year | -3.39% | -9.42% | +6.03% |
Max Drawdown (3Y)Largest decline over 3 years | -7.73% | -14.95% | +7.22% |
Max Drawdown (5Y)Largest decline over 5 years | -9.59% | -26.58% | +16.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -3.13% | -12.65% | +9.52% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -11.07% | +7.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 4.73% | -3.54% |
Volatility
GAAVX vs. BRK-B - Volatility Comparison
The current volatility for GMO Alternative Allocation Fund (GAAVX) is 1.99%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.79%. This indicates that GAAVX 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
| GAAVX | BRK-B | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 3.79% | -1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 4.94% | 10.68% | -5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.52% | 14.31% | -7.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.88% | 17.11% | -11.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 19.43% | -13.53% |
Dividends
GAAVX vs. BRK-B - Dividend Comparison
GAAVX's dividend yield for the trailing twelve months is around 8.66%, while BRK-B has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
BRK-B Berkshire Hathaway Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GAAVX GMO Alternative Allocation Fund | 8.66% | 8.78% | 0.00% | 5.18% | 0.91% | 4.10% | 2.41% | 2.61% |
Frequently Asked Questions
GAAVX and BRK-B have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRK-B has higher volatility (3.79%) compared to GAAVX (1.99%). In terms of maximum drawdown, GAAVX dropped -9.59% vs BRK-B's -53.86%.
GAAVX currently has the higher Sharpe Ratio (2.21 vs -0.44), 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.
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