QLD vs. BRK-B

Last updated Jun 5, 2026

QLD (ProShares Ultra QQQ) is Leveraged Equities fund tracking the NASDAQ-100 Index (200%), while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, QLD returned 35.87%/yr vs 12.93%/yr for BRK-B. At a 0.48 correlation, their price movements are largely independent.

Performance

QLD vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra QQQ (QLD) 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, QLD achieves a 40.66% return, which is significantly higher than BRK-B's -4.78% return. Over the past 10 years, QLD has outperformed BRK-B with an annualized return of 35.87%, while BRK-B has yielded a comparatively lower 12.93% annualized return.

QLD

• 1D: -0.98%
• 1M: 17.34%
• YTD: 40.66%
• 6M: 36.42%
• 1Y: 82.72%
• 3Y*: 49.60%
• 5Y*: 25.50%
• 10Y*: 35.87%

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)

QLD vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QLD ProShares Ultra QQQ	40.66%	30.36%	42.82%	117.72%	-60.52%	54.67%	88.90%	81.69%	-8.31%	70.34%
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 QLD and BRK-B is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006	0.48

The correlation between QLD and BRK-B shifts across timeframes, from -0.03 (1 year) to 0.48 (all time), reflecting how their relationship changes across market environments.

Return for Risk

QLD vs. BRK-B — Risk / Return Rank

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

QLD

QLD Risk / Return Rank: 70
QLD Sharpe Ratio Rank: 81
QLD Sortino Ratio Rank: 69
QLD Omega Ratio Rank: 68
QLD Calmar Ratio Rank: 67
QLD Martin Ratio Rank: 65

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.

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

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra QQQ (QLD) 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.

	QLD	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	2.61	-0.18	+2.79
Sortino ratio: Return per unit of downside risk	3.09	-0.15	+3.23
Omega ratio: Gain probability vs. loss probability	1.40	0.98	+0.42
Calmar ratio: Return relative to maximum drawdown	3.31	-0.27	+3.58
Martin ratio: Return relative to average drawdown	11.53	-0.57	+12.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QLD vs. BRK-B - Sharpe Ratio Comparison

The current QLD Sharpe Ratio is 2.61, which is higher than the BRK-B Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of QLD 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

	QLD	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	-0.18	+2.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.61	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.67	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.48	+0.12

Drawdowns

QLD vs. BRK-B - Drawdown Comparison

The maximum QLD drawdown since its inception was -83.13%, 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 QLD and BRK-B.

Drawdown Indicators

	QLD	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-83.13%	-53.86%	-29.27%
Max Drawdown (1Y) Largest decline over 1 year	-25.13%	-9.42%	-15.71%
Max Drawdown (3Y) Largest decline over 3 years	-42.29%	-14.95%	-27.34%
Max Drawdown (5Y) Largest decline over 5 years	-63.68%	-26.58%	-37.10%
Max Drawdown (10Y) Largest decline over 10 years	-63.68%	-29.57%	-34.11%
Current Drawdown Current decline from peak	-1.50%	-11.33%	+9.83%
Average Drawdown Average peak-to-trough decline	-18.17%	-11.07%	-7.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.20%	4.46%	+2.74%

Volatility

QLD vs. BRK-B - Volatility Comparison

ProShares Ultra QQQ (QLD) has a higher volatility of 8.93% compared to Berkshire Hathaway Inc. (BRK-B) at 3.72%. This indicates that QLD'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

	QLD	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.93%	3.72%	+5.21%
Volatility (6M) Calculated over the trailing 6-month period	24.08%	10.70%	+13.38%
Volatility (1Y) Calculated over the trailing 1-year period	31.84%	14.32%	+17.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	44.72%	17.11%	+27.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	44.55%	19.43%	+25.12%

Dividends

QLD vs. BRK-B - Dividend Comparison

QLD's dividend yield for the trailing twelve months is around 0.12%, 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%
QLD ProShares Ultra QQQ	0.12%	0.17%	0.25%	0.33%	0.31%	0.00%	0.00%	0.13%	0.06%	0.02%	0.21%	0.11%

Frequently Asked Questions

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

QLD and BRK-B have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QLD or BRK-B?

QLD has higher volatility (8.93%) compared to BRK-B (3.72%). In terms of maximum drawdown, QLD dropped -83.13% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

QLD currently has the higher Sharpe Ratio (2.61 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.