JHEQX vs. BRK-B

Last updated Jun 5, 2026

JHEQX (JPMorgan Hedged Equity Fund Class I) is Hedge Fund fund managed by JPMorgan, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, JHEQX returned 8.85%/yr vs 12.93%/yr for BRK-B. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

JHEQX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Hedged Equity Fund Class I (JHEQX) 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, JHEQX achieves a -1.88% return, which is significantly higher than BRK-B's -4.78% return. Over the past 10 years, JHEQX has underperformed BRK-B with an annualized return of 8.85%, while BRK-B has yielded a comparatively higher 12.93% annualized return.

JHEQX

• 1D: -0.03%
• 1M: -0.03%
• YTD: -1.88%
• 6M: -1.39%
• 1Y: 6.73%
• 3Y*: 9.21%
• 5Y*: 6.93%
• 10Y*: 8.85%

BRK-B

• 1D: 0.69%
• 1M: 2.82%
• YTD: -4.78%
• 6M: -4.89%
• 1Y: -2.52%
• 3Y*: 13.36%
• 5Y*: 10.35%
• 10Y*: 12.93%

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

JHEQX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JHEQX JPMorgan Hedged Equity Fund Class I	-1.88%	7.49%	18.23%	16.07%	-8.05%	13.43%	14.10%	13.31%	-0.72%	12.70%
BRK-B Berkshire Hathaway Inc.	-4.78%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between JHEQX and BRK-B is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.17
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.56
Correlation (All Time) Calculated using the full available price history since Jun 2, 2014	0.59

Over the past year, the correlation between JHEQX and BRK-B has dropped to 0.17 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

JHEQX vs. BRK-B — Risk / Return Rank

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

JHEQX

JHEQX Risk / Return Rank: 14
JHEQX Sharpe Ratio Rank: 15
JHEQX Sortino Ratio Rank: 14
JHEQX Omega Ratio Rank: 17
JHEQX Calmar Ratio Rank: 11
JHEQX Martin Ratio Rank: 12

BRK-B

BRK-B Risk / Return Rank: 31
BRK-B Sharpe Ratio Rank: 34
BRK-B Sortino Ratio Rank: 28
BRK-B Omega Ratio Rank: 27
BRK-B Calmar Ratio Rank: 33
BRK-B Martin Ratio Rank: 32

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.

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

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Hedged Equity Fund Class I (JHEQX) 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.

	JHEQX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.09	-0.18	+1.27
Sortino ratio: Return per unit of downside risk	1.52	-0.15	+1.66
Omega ratio: Gain probability vs. loss probability	1.21	0.98	+0.23
Calmar ratio: Return relative to maximum drawdown	1.00	-0.27	+1.27
Martin ratio: Return relative to average drawdown	3.47	-0.57	+4.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JHEQX vs. BRK-B - Sharpe Ratio Comparison

The current JHEQX Sharpe Ratio is 1.09, which is higher than the BRK-B Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of JHEQX 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

	JHEQX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	-0.18	+1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.61	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.95	0.67	+0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.86	0.48	+0.38

Drawdowns

JHEQX vs. BRK-B - Drawdown Comparison

The maximum JHEQX drawdown since its inception was -18.85%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for JHEQX and BRK-B.

Drawdown Indicators

	JHEQX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-18.85%	-53.86%	+35.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.88%	-9.42%	+2.54%
Max Drawdown (3Y) Largest decline over 3 years	-13.07%	-14.95%	+1.88%
Max Drawdown (5Y) Largest decline over 5 years	-14.34%	-26.58%	+12.24%
Max Drawdown (10Y) Largest decline over 10 years	-18.85%	-29.57%	+10.72%
Current Drawdown Current decline from peak	-3.17%	-11.33%	+8.16%
Average Drawdown Average peak-to-trough decline	-2.18%	-11.07%	+8.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	4.46%	-2.48%

Volatility

JHEQX vs. BRK-B - Volatility Comparison

The current volatility for JPMorgan Hedged Equity Fund Class I (JHEQX) is 0.51%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.72%. This indicates that JHEQX 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

	JHEQX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.51%	3.72%	-3.21%
Volatility (6M) Calculated over the trailing 6-month period	4.78%	10.70%	-5.92%
Volatility (1Y) Calculated over the trailing 1-year period	6.33%	14.32%	-7.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.86%	17.11%	-8.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.38%	19.43%	-10.05%

Dividends

JHEQX vs. BRK-B - Dividend Comparison

JHEQX's dividend yield for the trailing twelve months is around 0.62%, 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%
JHEQX JPMorgan Hedged Equity Fund Class I	0.62%	0.65%	0.75%	0.98%	0.99%	0.71%	1.11%	1.11%	1.13%	0.99%	1.35%	1.21%

Frequently Asked Questions

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

JHEQX and BRK-B have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JHEQX or BRK-B?

BRK-B has higher volatility (3.72%) compared to JHEQX (0.51%). In terms of maximum drawdown, JHEQX dropped -18.85% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

JHEQX currently has the higher Sharpe Ratio (1.09 vs -0.18), 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.