NOCT vs. BRK-B

Last updated Jun 5, 2026

NOCT (Innovator Growth-100 Power Buffer ETF - October) is Defined Outcome fund actively managed by Innovator, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 5 years, NOCT returned 10.49%/yr vs 10.35%/yr for BRK-B. At a 0.38 correlation, their price movements are largely independent.

Performance

NOCT vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - October (NOCT) 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, NOCT achieves a 7.77% return, which is significantly higher than BRK-B's -4.78% return.

NOCT

• 1D: 0.14%
• 1M: 2.27%
• YTD: 7.77%
• 6M: 7.86%
• 1Y: 17.18%
• 3Y*: 15.00%
• 5Y*: 10.49%
• 10Y*: —

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)

NOCT vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
NOCT Innovator Growth-100 Power Buffer ETF - October	7.77%	12.81%	12.10%	30.67%	-13.42%	12.10%	11.64%	5.54%
BRK-B Berkshire Hathaway Inc.	-4.78%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	9.57%

Correlation

The correlation between NOCT and BRK-B is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.38

The correlation between NOCT and BRK-B shifts across timeframes, from -0.02 (1 year) to 0.38 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NOCT vs. BRK-B — Risk / Return Rank

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

NOCT

NOCT Risk / Return Rank: 71
NOCT Sharpe Ratio Rank: 71
NOCT Sortino Ratio Rank: 72
NOCT Omega Ratio Rank: 78
NOCT Calmar Ratio Rank: 61
NOCT Martin Ratio Rank: 74

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.

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

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - October (NOCT) 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.

	NOCT	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	2.29	-0.18	+2.47
Sortino ratio: Return per unit of downside risk	3.23	-0.15	+3.37
Omega ratio: Gain probability vs. loss probability	1.46	0.98	+0.48
Calmar ratio: Return relative to maximum drawdown	2.95	-0.27	+3.22
Martin ratio: Return relative to average drawdown	13.76	-0.57	+14.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NOCT vs. BRK-B - Sharpe Ratio Comparison

The current NOCT Sharpe Ratio is 2.29, which is higher than the BRK-B Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of NOCT 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

	NOCT	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	-0.18	+2.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.61	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.48	+0.53

Drawdowns

NOCT vs. BRK-B - Drawdown Comparison

The maximum NOCT drawdown since its inception was -16.21%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for NOCT and BRK-B.

Drawdown Indicators

	NOCT	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-16.21%	-53.86%	+37.65%
Max Drawdown (1Y) Largest decline over 1 year	-5.84%	-9.42%	+3.58%
Max Drawdown (3Y) Largest decline over 3 years	-12.70%	-14.95%	+2.25%
Max Drawdown (5Y) Largest decline over 5 years	-16.21%	-26.58%	+10.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-0.01%	-11.33%	+11.32%
Average Drawdown Average peak-to-trough decline	-2.34%	-11.07%	+8.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	4.46%	-3.21%

Volatility

NOCT vs. BRK-B - Volatility Comparison

The current volatility for Innovator Growth-100 Power Buffer ETF - October (NOCT) is 0.97%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.72%. This indicates that NOCT 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

	NOCT	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.97%	3.72%	-2.75%
Volatility (6M) Calculated over the trailing 6-month period	5.89%	10.70%	-4.81%
Volatility (1Y) Calculated over the trailing 1-year period	7.54%	14.32%	-6.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.93%	17.11%	-6.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.19%	19.43%	-8.24%

Dividends

NOCT vs. BRK-B - Dividend Comparison

Neither NOCT nor BRK-B has 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%
NOCT Innovator Growth-100 Power Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.07%

Frequently Asked Questions

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

NOCT and BRK-B have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NOCT or BRK-B?

BRK-B has higher volatility (3.72%) compared to NOCT (0.97%). In terms of maximum drawdown, NOCT dropped -16.21% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

NOCT currently has the higher Sharpe Ratio (2.29 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.