SPYD vs. BRK-B

Last updated Jun 14, 2026

SPYD (State Street SPDR Portfolio S&P 500 High Dividend ETF) is S&P 500 fund tracking the S&P 500 High Dividend Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, SPYD returned 9.09%/yr vs 13.22%/yr for BRK-B. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

SPYD vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) 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, SPYD achieves a 14.73% return, which is significantly higher than BRK-B's -2.67% return. Over the past 10 years, SPYD has underperformed BRK-B with an annualized return of 9.09%, while BRK-B has yielded a comparatively higher 13.22% annualized return.

SPYD

• 1D: 1.05%
• 1M: 5.32%
• YTD: 14.73%
• 6M: 14.21%
• 1Y: 20.93%
• 3Y*: 14.69%
• 5Y*: 7.64%
• 10Y*: 9.09%

BRK-B

• 1D: 0.71%
• 1M: 1.07%
• YTD: -2.67%
• 6M: -2.06%
• 1Y: 0.35%
• 3Y*: 13.30%
• 5Y*: 11.27%
• 10Y*: 13.22%

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

SPYD vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	14.73%	4.65%	15.34%	3.91%	-1.17%	32.73%	-11.64%	21.20%	-4.89%	12.67%
BRK-B Berkshire Hathaway Inc.	-2.67%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between SPYD and BRK-B is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Oct 22, 2015	0.66

Over the past year, the correlation between SPYD and BRK-B has dropped to 0.44 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

SPYD vs. BRK-B — Risk / Return Rank

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

SPYD

SPYD Risk / Return Rank: 58
SPYD Sharpe Ratio Rank: 57
SPYD Sortino Ratio Rank: 63
SPYD Omega Ratio Rank: 52
SPYD Calmar Ratio Rank: 64
SPYD Martin Ratio Rank: 54

BRK-B

BRK-B Risk / Return Rank: 39
BRK-B Sharpe Ratio Rank: 42
BRK-B Sortino Ratio Rank: 34
BRK-B Omega Ratio Rank: 33
BRK-B Calmar Ratio Rank: 42
BRK-B Martin Ratio Rank: 42

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.

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

This table presents a comparison of risk-adjusted performance metrics for State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) 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.

	SPYD	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.69	-0.02	+1.70
Sortino ratio: Return per unit of downside risk	2.53	0.08	+2.45
Omega ratio: Gain probability vs. loss probability	1.29	1.01	+0.28
Calmar ratio: Return relative to maximum drawdown	2.80	-0.02	+2.82
Martin ratio: Return relative to average drawdown	8.14	-0.05	+8.19

SPYD vs. BRK-B - Sharpe Ratio Comparison

The current SPYD Sharpe Ratio is 1.69, which is higher than the BRK-B Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of SPYD 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

SPYD vs. BRK-B - Drawdown Comparison

The maximum SPYD drawdown since its inception was -46.42%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for SPYD and BRK-B.

Drawdown Indicators

	SPYD	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-46.42%	-53.86%	+7.44%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-9.42%	+2.37%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-14.95%	-1.18%
Max Drawdown (5Y) Largest decline over 5 years	-22.25%	-26.58%	+4.33%
Max Drawdown (10Y) Largest decline over 10 years	-46.42%	-29.57%	-16.85%
Current Drawdown Current decline from peak	0.00%	-9.36%	+9.36%
Average Drawdown Average peak-to-trough decline	-6.15%	-11.07%	+4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	4.53%	-2.11%

Volatility

SPYD vs. BRK-B - Volatility Comparison

The current volatility for State Street SPDR Portfolio S&P 500 High Dividend ETF (SPYD) is 2.92%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.95%. This indicates that SPYD 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

	SPYD	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.95%	-1.03%
Volatility (6M) Calculated over the trailing 6-month period	7.74%	10.78%	-3.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.70%	14.38%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	17.12%	-0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.78%	19.44%	+0.34%

Dividends

SPYD vs. BRK-B - Dividend Comparison

SPYD's dividend yield for the trailing twelve months is around 4.05%, 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%
SPYD State Street SPDR Portfolio S&P 500 High Dividend ETF	4.05%	4.52%	4.31%	4.66%	5.01%	3.68%	4.95%	4.42%	4.75%	4.63%	4.34%	1.13%

Frequently Asked Questions

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

SPYD and BRK-B have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYD or BRK-B?

BRK-B has higher volatility (3.95%) compared to SPYD (2.92%). In terms of maximum drawdown, SPYD dropped -46.42% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

SPYD currently has the higher Sharpe Ratio (1.69 vs -0.02), 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.