LTL vs. BRK-B
LTL (ProShares Ultra Telecommunications) is Leveraged Equities fund tracking the Dow Jones U.S. Select Telecommunications Index (200%), while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, LTL returned 7.38%/yr vs 13.34%/yr for BRK-B. At a 0.41 correlation, their price movements are largely independent.
Performance
LTL vs. BRK-B - Performance Comparison
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Returns By Period
In the year-to-date period, LTL achieves a -19.62% return, which is significantly lower than BRK-B's -2.78% return. Over the past 10 years, LTL has underperformed BRK-B with an annualized return of 7.38%, while BRK-B has yielded a comparatively higher 13.34% annualized return.
LTL
- 1D
- -4.20%
- 1M
- -14.53%
- YTD
- -19.62%
- 6M
- -18.20%
- 1Y
- 2.97%
- 3Y*
- 30.89%
- 5Y*
- 14.78%
- 10Y*
- 7.38%
BRK-B
- 1D
- -0.16%
- 1M
- 0.47%
- YTD
- -2.78%
- 6M
- -2.25%
- 1Y
- 0.79%
- 3Y*
- 13.38%
- 5Y*
- 12.21%
- 10Y*
- 13.34%
LTL vs. BRK-B - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTL ProShares Ultra Telecommunications | -19.62% | 37.06% | 65.15% | 62.03% | -41.14% | 40.42% | -3.25% | 30.16% | -23.44% | -26.85% |
BRK-B Berkshire Hathaway Inc. | -2.78% | 10.89% | 27.09% | 15.46% | 3.31% | 28.95% | 2.37% | 10.93% | 3.01% | 21.62% |
Correlation
The correlation between LTL and BRK-B is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since May 22, 2008 | 0.41 |
Over the past year, the correlation between LTL and BRK-B has dropped to 0.20 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
LTL vs. BRK-B — Risk / Return Rank
LTL
BRK-B
LTL vs. BRK-B - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Telecommunications (LTL) 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.
| LTL | BRK-B | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.04 | 1.02 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.13 | 0.08 | +0.05 |
| Martin ratioReturn relative to average drawdown | 0.37 | 0.17 | +0.19 |
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Drawdowns
LTL vs. BRK-B - Drawdown Comparison
The maximum LTL drawdown since its inception was -80.20%, 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 LTL and BRK-B.
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Drawdown Indicators
| LTL | BRK-B | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.20% | -53.86% | -26.34% |
Max Drawdown (1Y)Largest decline over 1 year | -22.45% | -9.42% | -13.03% |
Max Drawdown (3Y)Largest decline over 3 years | -34.37% | -14.95% | -19.42% |
Max Drawdown (5Y)Largest decline over 5 years | -52.60% | -26.58% | -26.02% |
Max Drawdown (10Y)Largest decline over 10 years | -64.15% | -29.57% | -34.58% |
Current DrawdownCurrent decline from peak | -22.45% | -9.47% | -12.98% |
Average DrawdownAverage peak-to-trough decline | -28.62% | -11.07% | -17.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.11% | 4.57% | +3.54% |
Volatility
LTL vs. BRK-B - Volatility Comparison
ProShares Ultra Telecommunications (LTL) has a higher volatility of 9.53% compared to Berkshire Hathaway Inc. (BRK-B) at 3.68%. This indicates that LTL'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
| LTL | BRK-B | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.53% | 3.68% | +5.85% |
Volatility (6M)Calculated over the trailing 6-month period | 20.72% | 10.60% | +10.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.45% | 14.39% | +13.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.70% | 17.10% | +17.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.97% | 19.44% | +17.53% |
Dividends
LTL vs. BRK-B - Dividend Comparison
LTL's dividend yield for the trailing twelve months is around 1.01%, 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% |
LTL ProShares Ultra Telecommunications | 1.01% | 0.64% | 0.29% | 0.97% | 2.01% | 1.14% | 1.57% | 0.83% | 1.99% | 1.96% | 0.70% | 1.55% |
Frequently Asked Questions
LTL and BRK-B have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTL has higher volatility (9.53%) compared to BRK-B (3.68%). In terms of maximum drawdown, LTL dropped -80.20% vs BRK-B's -53.86%.
LTL currently has the higher Sharpe Ratio (0.11 vs 0.06), 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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