IWML vs. BRK-B
IWML (ETRACS 2x Leveraged US Size Factor TR ETN) is Leveraged Equities fund tracking the Russell 2000 Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 5 years, IWML returned 3.10%/yr vs 11.87%/yr for BRK-B. At a 0.47 correlation, their price movements are largely independent.
Performance
IWML vs. BRK-B - Performance Comparison
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Returns By Period
In the year-to-date period, IWML achieves a 39.62% return, which is significantly higher than BRK-B's -2.95% return.
IWML
- 1D
- 0.29%
- 1M
- 6.94%
- YTD
- 39.62%
- 6M
- 32.46%
- 1Y
- 78.58%
- 3Y*
- 27.76%
- 5Y*
- 3.10%
- 10Y*
- —
BRK-B
- 1D
- -1.41%
- 1M
- 0.87%
- YTD
- -2.95%
- 6M
- -2.70%
- 1Y
- 0.33%
- 3Y*
- 13.44%
- 5Y*
- 11.87%
- 10Y*
- 13.42%
IWML vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IWML ETRACS 2x Leveraged US Size Factor TR ETN | 39.62% | 9.64% | 15.70% | 22.31% | -41.80% | 2.08% |
BRK-B Berkshire Hathaway Inc. | -2.95% | 10.89% | 27.09% | 15.46% | 3.31% | 26.82% |
Correlation
The correlation between IWML and BRK-B is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021 | 0.47 |
Over the past year, the correlation between IWML and BRK-B has dropped to 0.14 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
IWML vs. BRK-B — Risk / Return Rank
IWML
BRK-B
IWML vs. BRK-B - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS 2x Leveraged US Size Factor TR ETN (IWML) 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.
| IWML | BRK-B | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.00 | ||
| Sortino ratioReturn per unit of downside risk | +2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.02 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 3.47 | 0.04 | +3.44 |
| Martin ratioReturn relative to average drawdown | 12.12 | 0.07 | +12.05 |
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Drawdowns
IWML vs. BRK-B - Drawdown Comparison
The maximum IWML drawdown since its inception was -60.06%, 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 IWML and BRK-B.
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Drawdown Indicators
| IWML | BRK-B | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.06% | -53.86% | -6.20% |
Max Drawdown (1Y)Largest decline over 1 year | -22.75% | -9.42% | -13.33% |
Max Drawdown (3Y)Largest decline over 3 years | -51.82% | -14.95% | -36.87% |
Max Drawdown (5Y)Largest decline over 5 years | -60.06% | -26.58% | -33.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -29.57% | — |
Current DrawdownCurrent decline from peak | 0.00% | -9.63% | +9.63% |
Average DrawdownAverage peak-to-trough decline | -31.58% | -11.07% | -20.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.51% | 4.51% | +2.00% |
Volatility
IWML vs. BRK-B - Volatility Comparison
ETRACS 2x Leveraged US Size Factor TR ETN (IWML) has a higher volatility of 11.33% compared to Berkshire Hathaway Inc. (BRK-B) at 3.80%. This indicates that IWML'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.
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Volatility by Period
| IWML | BRK-B | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.33% | 3.80% | +7.53% |
Volatility (6M)Calculated over the trailing 6-month period | 28.41% | 10.53% | +17.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.13% | 14.40% | +24.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 46.18% | 17.10% | +29.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 46.12% | 19.39% | +26.73% |
Dividends
IWML vs. BRK-B - Dividend Comparison
Neither IWML nor BRK-B has paid dividends to shareholders.
Frequently Asked Questions
IWML and BRK-B have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWML has higher volatility (11.33%) compared to BRK-B (3.80%). In terms of maximum drawdown, IWML dropped -60.06% vs BRK-B's -53.86%.
IWML currently has the higher Sharpe Ratio (2.02 vs 0.02), 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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