HLIEX vs. BRK-B

Last updated Jun 6, 2026

HLIEX (JPMorgan Equity Income Fund) is Large Cap Value Equities fund managed by JPMorgan, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, HLIEX returned 12.12%/yr vs 13.19%/yr for BRK-B. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

HLIEX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Equity Income Fund (HLIEX) 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, HLIEX achieves a 11.28% return, which is significantly higher than BRK-B's -2.89% return. Over the past 10 years, HLIEX has underperformed BRK-B with an annualized return of 12.12%, while BRK-B has yielded a comparatively higher 13.19% annualized return.

HLIEX

• 1D: 1.15%
• 1M: 2.47%
• YTD: 11.28%
• 6M: 11.88%
• 1Y: 24.61%
• 3Y*: 18.46%
• 5Y*: 10.77%
• 10Y*: 12.12%

BRK-B

• 1D: 1.98%
• 1M: 3.90%
• YTD: -2.89%
• 6M: -3.21%
• 1Y: -0.12%
• 3Y*: 13.55%
• 5Y*: 10.78%
• 10Y*: 13.19%

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

HLIEX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HLIEX JPMorgan Equity Income Fund	11.28%	14.67%	19.67%	4.79%	-1.88%	25.10%	3.61%	26.30%	-4.45%	17.55%
BRK-B Berkshire Hathaway Inc.	-2.89%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between HLIEX and BRK-B is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since May 10, 1996	0.55

The correlation between HLIEX and BRK-B shifts across timeframes, from 0.43 (1 year) to 0.75 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

HLIEX vs. BRK-B — Risk / Return Rank

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

HLIEX

HLIEX Risk / Return Rank: 71
HLIEX Sharpe Ratio Rank: 70
HLIEX Sortino Ratio Rank: 68
HLIEX Omega Ratio Rank: 64
HLIEX Calmar Ratio Rank: 79
HLIEX Martin Ratio Rank: 72

BRK-B

BRK-B Risk / Return Rank: 38
BRK-B Sharpe Ratio Rank: 41
BRK-B Sortino Ratio Rank: 33
BRK-B Omega Ratio Rank: 32
BRK-B Calmar Ratio Rank: 41
BRK-B Martin Ratio Rank: 41

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.

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

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Equity Income Fund (HLIEX) 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.

	HLIEX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	2.36	-0.01	+2.37
Sortino ratio: Return per unit of downside risk	3.35	0.09	+3.27
Omega ratio: Gain probability vs. loss probability	1.43	1.01	+0.42
Calmar ratio: Return relative to maximum drawdown	3.45	-0.01	+3.47
Martin ratio: Return relative to average drawdown	13.19	-0.03	+13.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLIEX vs. BRK-B - Sharpe Ratio Comparison

The current HLIEX Sharpe Ratio is 2.36, which is higher than the BRK-B Sharpe Ratio of -0.01. The chart below compares the historical Sharpe Ratios of HLIEX 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.

Sharpe Ratios by Period

	HLIEX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	-0.01	+2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.63	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.68	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.48	+0.09

Drawdowns

HLIEX vs. BRK-B - Drawdown Comparison

The maximum HLIEX drawdown since its inception was -50.33%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for HLIEX and BRK-B.

Drawdown Indicators

	HLIEX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-50.33%	-53.86%	+3.53%
Max Drawdown (1Y) Largest decline over 1 year	-7.08%	-9.42%	+2.34%
Max Drawdown (3Y) Largest decline over 3 years	-14.19%	-14.95%	+0.76%
Max Drawdown (5Y) Largest decline over 5 years	-14.85%	-26.58%	+11.73%
Max Drawdown (10Y) Largest decline over 10 years	-36.89%	-29.57%	-7.32%
Current Drawdown Current decline from peak	0.00%	-9.57%	+9.57%
Average Drawdown Average peak-to-trough decline	-6.37%	-11.07%	+4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	4.47%	-2.62%

Volatility

HLIEX vs. BRK-B - Volatility Comparison

The current volatility for JPMorgan Equity Income Fund (HLIEX) is 2.65%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 4.08%. This indicates that HLIEX 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

	HLIEX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.65%	4.08%	-1.43%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	10.87%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	10.36%	14.39%	-4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	17.13%	-2.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	19.43%	-2.64%

Dividends

HLIEX vs. BRK-B - Dividend Comparison

HLIEX's dividend yield for the trailing twelve months is around 9.72%, 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%
HLIEX JPMorgan Equity Income Fund	9.72%	10.81%	14.41%	2.77%	3.67%	3.33%	1.82%	2.78%	5.12%	2.47%	2.45%	2.73%

Frequently Asked Questions

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

HLIEX and BRK-B have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HLIEX or BRK-B?

BRK-B has higher volatility (4.08%) compared to HLIEX (2.65%). In terms of maximum drawdown, HLIEX dropped -50.33% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

HLIEX currently has the higher Sharpe Ratio (2.36 vs -0.01), 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.