SPYI vs. BRK-B

Last updated Jun 9, 2026

SPYI (NEOS S&P 500 High Income ETF) is Derivative Income fund actively managed by Neos, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 3 years, SPYI returned 15.60%/yr vs 13.25%/yr for BRK-B. At a 0.45 correlation, their price movements are largely independent.

Performance

SPYI vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS S&P 500 High Income ETF (SPYI) 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, SPYI achieves a 5.97% return, which is significantly higher than BRK-B's -3.11% return.

SPYI

• 1D: 0.30%
• 1M: 0.11%
• YTD: 5.97%
• 6M: 6.55%
• 1Y: 20.24%
• 3Y*: 15.60%
• 5Y*: —
• 10Y*: —

BRK-B

• 1D: -0.23%
• 1M: 2.32%
• YTD: -3.11%
• 6M: -2.06%
• 1Y: -1.32%
• 3Y*: 13.25%
• 5Y*: 11.03%
• 10Y*: 13.14%

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

SPYI vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SPYI NEOS S&P 500 High Income ETF	5.97%	16.67%	19.03%	18.09%	-2.44%
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	8.23%

Correlation

The correlation between SPYI and BRK-B is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (All Time) Calculated using the full available price history since Aug 31, 2022	0.45

Over the past year, the correlation between SPYI and BRK-B has dropped to 0.12 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

Return for Risk

SPYI vs. BRK-B — Risk / Return Rank

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

SPYI

SPYI Risk / Return Rank: 70
SPYI Sharpe Ratio Rank: 70
SPYI Sortino Ratio Rank: 68
SPYI Omega Ratio Rank: 76
SPYI Calmar Ratio Rank: 59
SPYI Martin Ratio Rank: 78

BRK-B

BRK-B Risk / Return Rank: 35
BRK-B Sharpe Ratio Rank: 38
BRK-B Sortino Ratio Rank: 30
BRK-B Omega Ratio Rank: 30
BRK-B Calmar Ratio Rank: 38
BRK-B Martin Ratio Rank: 37

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.

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

This table presents a comparison of risk-adjusted performance metrics for NEOS S&P 500 High Income ETF (SPYI) 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.

	SPYI	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	2.06	-0.09	+2.15
Sortino ratio: Return per unit of downside risk	2.78	-0.03	+2.81
Omega ratio: Gain probability vs. loss probability	1.40	1.00	+0.41
Calmar ratio: Return relative to maximum drawdown	2.63	-0.14	+2.78
Martin ratio: Return relative to average drawdown	13.60	-0.30	+13.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPYI vs. BRK-B - Sharpe Ratio Comparison

The current SPYI Sharpe Ratio is 2.06, which is higher than the BRK-B Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of SPYI 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

	SPYI	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.06	-0.09	+2.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.65	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.48	+0.69

Drawdowns

SPYI vs. BRK-B - Drawdown Comparison

The maximum SPYI drawdown since its inception was -16.47%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for SPYI and BRK-B.

Drawdown Indicators

	SPYI	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-16.47%	-53.86%	+37.39%
Max Drawdown (1Y) Largest decline over 1 year	-7.72%	-9.42%	+1.70%
Max Drawdown (3Y) Largest decline over 3 years	-16.47%	-14.95%	-1.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-2.11%	-9.78%	+7.67%
Average Drawdown Average peak-to-trough decline	-1.80%	-11.07%	+9.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.49%	4.49%	-3.00%

Volatility

SPYI vs. BRK-B - Volatility Comparison

The current volatility for NEOS S&P 500 High Income ETF (SPYI) is 2.87%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.98%. This indicates that SPYI 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

	SPYI	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	3.98%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	7.78%	10.87%	-3.09%
Volatility (1Y) Calculated over the trailing 1-year period	9.88%	14.38%	-4.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.95%	17.13%	-4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.95%	19.44%	-6.49%

Dividends

SPYI vs. BRK-B - Dividend Comparison

SPYI's dividend yield for the trailing twelve months is around 11.83%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%
SPYI NEOS S&P 500 High Income ETF	11.83%	11.70%	12.04%	12.01%	4.10%

Frequently Asked Questions

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

SPYI and BRK-B have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPYI or BRK-B?

BRK-B has higher volatility (3.98%) compared to SPYI (2.87%). In terms of maximum drawdown, SPYI dropped -16.47% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

SPYI currently has the higher Sharpe Ratio (2.06 vs -0.09), 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.