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 2.92%/yr vs 12.33%/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 1.36% return, which is significantly higher than BRK-B's -1.96% return.
GAAVX
- 1D
- 0.27%
- 1M
- -1.33%
- YTD
- 1.36%
- 6M
- 1.70%
- 1Y
- 13.88%
- 3Y*
- 5.35%
- 5Y*
- 2.92%
- 10Y*
- —
BRK-B
- 1D
- 0.84%
- 1M
- 1.32%
- YTD
- -1.96%
- 6M
- -1.54%
- 1Y
- 1.03%
- 3Y*
- 13.70%
- 5Y*
- 12.33%
- 10Y*
- 13.43%
GAAVX vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GAAVX GMO Alternative Allocation Fund | 1.36% | 15.19% | -5.70% | 6.07% | 3.63% | -5.12% | -0.28% | 3.49% |
BRK-B Berkshire Hathaway Inc. | -1.96% | 10.89% | 27.09% | 15.46% | 3.31% | 28.95% | 2.37% | 8.22% |
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 9, 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.
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.
| GAAVX | BRK-B | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.02 | ||
| Sortino ratioReturn per unit of downside risk | +3.21 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.02 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 0.11 | +4.02 |
| Martin ratioReturn relative to average drawdown | 10.74 | 0.23 | +10.52 |
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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 | -7.73% | -26.58% | +18.85% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | -3.08% | -8.71% | +5.63% |
Average DrawdownAverage peak-to-trough decline | -3.07% | -11.07% | +8.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 4.57% | -3.27% |
Volatility
GAAVX vs. BRK-B - Volatility Comparison
The current volatility for GMO Alternative Allocation Fund (GAAVX) is 2.23%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.75%. 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 | 2.23% | 3.75% | -1.52% |
Volatility (6M)Calculated over the trailing 6-month period | 5.10% | 10.63% | -5.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.70% | 14.39% | -7.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.91% | 17.10% | -11.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.92% | 19.39% | -13.47% |
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 (3.75%) compared to GAAVX (2.23%). In terms of maximum drawdown, GAAVX dropped -9.59% vs BRK-B's -53.86%.
GAAVX currently has the higher Sharpe Ratio (2.09 vs 0.07), 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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