PBJ vs. BRK-B

Last updated Jul 18, 2026

PBJ (Invesco Dynamic Food & Beverage ETF) is Consumer Staples Equities fund tracking the Dynamic Food & Beverage Intellidex Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, PBJ returned 4.90%/yr vs 12.82%/yr for BRK-B. A 0.51 correlation means they provide meaningful diversification when combined.

Performance

PBJ vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Food & Beverage ETF (PBJ) 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, PBJ achieves a 9.17% return, which is significantly higher than BRK-B's -2.34% return. Over the past 10 years, PBJ has underperformed BRK-B with an annualized return of 4.90%, while BRK-B has yielded a comparatively higher 12.82% annualized return.

PBJ

• 1D: -0.47%
• 1M: 4.21%
• 6M: 5.55%
• YTD: 9.17%
• 1Y: 1.85%
• 3Y*: 3.90%
• 5Y*: 5.02%
• 10Y*: 4.90%

BRK-B

• 1D: -0.45%
• 1M: -0.08%
• 6M: -0.48%
• YTD: -2.34%
• 1Y: 3.70%
• 3Y*: 12.44%
• 5Y*: 12.05%
• 10Y*: 12.82%

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

PBJ vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PBJ Invesco Dynamic Food & Beverage ETF	9.17%	-1.86%	2.49%	2.31%	3.14%	26.88%	5.53%	17.50%	-11.21%	1.87%
BRK-B Berkshire Hathaway Inc.	-2.34%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between PBJ and BRK-B is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jun 23, 2005	0.51

Over the past year, the correlation between PBJ and BRK-B has dropped to 0.26 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

Return for Risk

PBJ vs. BRK-B — Risk / Return Rank

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

PBJ

PBJ Risk / Return Rank: 12
PBJ Sharpe Ratio Rank: 12
PBJ Sortino Ratio Rank: 11
PBJ Omega Ratio Rank: 11
PBJ Calmar Ratio Rank: 12
PBJ Martin Ratio Rank: 11

BRK-B

BRK-B Risk / Return Rank: 50
BRK-B Sharpe Ratio Rank: 54
BRK-B Sortino Ratio Rank: 45
BRK-B Omega Ratio Rank: 44
BRK-B Calmar Ratio Rank: 55
BRK-B Martin Ratio Rank: 55

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.

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

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Food & Beverage ETF (PBJ) 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.

	PBJ	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	0.15	0.26	-0.11
Sortino ratio: Return per unit of downside risk	0.30	0.45	-0.16
Omega ratio: Gain probability vs. loss probability	1.03	1.06	-0.02
Calmar ratio: Return relative to maximum drawdown	0.15	0.39	-0.25
Martin ratio: Return relative to average drawdown	0.33	0.83	-0.49

PBJ vs. BRK-B - Sharpe Ratio Comparison

The current PBJ Sharpe Ratio is 0.15, which is lower than the BRK-B Sharpe Ratio of 0.26. The chart below compares the historical Sharpe Ratios of PBJ 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.

Drawdowns

PBJ vs. BRK-B - Drawdown Comparison

The maximum PBJ drawdown since its inception was -39.15%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for PBJ and BRK-B.

Drawdown Indicators

	PBJ	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-39.15%	-53.86%	+14.71%
Max Drawdown (1Y) Largest decline over 1 year	-12.48%	-9.42%	-3.06%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	-14.95%	+1.96%
Max Drawdown (5Y) Largest decline over 5 years	-15.81%	-26.58%	+10.77%
Max Drawdown (10Y) Largest decline over 10 years	-28.49%	-29.57%	+1.08%
Current Drawdown Current decline from peak	-4.04%	-9.06%	+5.02%
Average Drawdown Average peak-to-trough decline	-5.39%	-11.06%	+5.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.59%	4.49%	+1.10%

Volatility

PBJ vs. BRK-B - Volatility Comparison

Invesco Dynamic Food & Beverage ETF (PBJ) has a higher volatility of 4.87% compared to Berkshire Hathaway Inc. (BRK-B) at 4.48%. This indicates that PBJ'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.

Volatility by Period

	PBJ	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	4.48%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	9.71%	11.07%	-1.36%
Volatility (1Y) Calculated over the trailing 1-year period	12.83%	14.55%	-1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.82%	17.12%	-3.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.13%	19.40%	-4.27%

Dividends

PBJ vs. BRK-B - Dividend Comparison

PBJ's dividend yield for the trailing twelve months is around 1.26%, 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%
PBJ Invesco Dynamic Food & Beverage ETF	1.26%	1.83%	1.11%	1.81%	1.82%	0.90%	1.12%	1.21%	1.41%	0.70%	1.56%	1.24%

Frequently Asked Questions

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

PBJ and BRK-B have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PBJ or BRK-B?

PBJ has higher volatility (4.87%) compared to BRK-B (4.48%). In terms of maximum drawdown, PBJ dropped -39.15% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

BRK-B currently has the higher Sharpe Ratio (0.26 vs 0.15), 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.