VWNFX vs. BRK-B

Last updated Jun 3, 2026

VWNFX (Vanguard Windsor II Fund Investor Shares) is Large Cap Value Equities fund managed by Vanguard, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, VWNFX returned 12.78%/yr vs 12.82%/yr for BRK-B. A 0.53 correlation means they provide meaningful diversification when combined.

Performance

VWNFX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Windsor II Fund Investor Shares (VWNFX) 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, VWNFX achieves a 7.23% return, which is significantly higher than BRK-B's -6.20% return. Both investments have delivered pretty close results over the past 10 years, with VWNFX having a 12.78% annualized return and BRK-B not far ahead at 12.82%.

VWNFX

• 1D: 0.56%
• 1M: 1.98%
• YTD: 7.23%
• 6M: 9.20%
• 1Y: 24.58%
• 3Y*: 17.57%
• 5Y*: 10.48%
• 10Y*: 12.78%

BRK-B

• 1D: 0.26%
• 1M: -0.32%
• YTD: -6.20%
• 6M: -6.94%
• 1Y: -6.23%
• 3Y*: 12.69%
• 5Y*: 10.06%
• 10Y*: 12.82%

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

VWNFX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWNFX Vanguard Windsor II Fund Investor Shares	7.23%	18.51%	13.91%	21.01%	-13.26%	28.84%	14.41%	29.02%	-8.62%	15.61%
BRK-B Berkshire Hathaway Inc.	-6.20%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between VWNFX and BRK-B is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 10, 1996	0.53

Over the past year, the correlation between VWNFX and BRK-B has dropped to 0.31 - well below their long-term average of 0.53, suggesting their price drivers have been diverging.

Return for Risk

VWNFX vs. BRK-B — Risk / Return Rank

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

VWNFX

VWNFX Risk / Return Rank: 60
VWNFX Sharpe Ratio Rank: 58
VWNFX Sortino Ratio Rank: 56
VWNFX Omega Ratio Rank: 54
VWNFX Calmar Ratio Rank: 67
VWNFX Martin Ratio Rank: 66

BRK-B

BRK-B Risk / Return Rank: 17
BRK-B Sharpe Ratio Rank: 21
BRK-B Sortino Ratio Rank: 19
BRK-B Omega Ratio Rank: 19
BRK-B Calmar Ratio Rank: 15
BRK-B Martin Ratio Rank: 8

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.

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

This table presents a comparison of risk-adjusted performance metrics for Vanguard Windsor II Fund Investor Shares (VWNFX) 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.

	VWNFX	BRK-B	Difference
Sharpe ratio Return per unit of total volatility	2.25	-0.44	+2.69
Sortino ratio Return per unit of downside risk	3.15	-0.51	+3.66
Omega ratio Gain probability vs. loss probability	1.41	0.94	+0.47
Calmar ratio Return relative to maximum drawdown	3.17	-0.68	+3.85
Martin ratio Return relative to average drawdown	12.96	-1.36	+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.

VWNFX vs. BRK-B - Sharpe Ratio Comparison

The current VWNFX Sharpe Ratio is 2.25, which is higher than the BRK-B Sharpe Ratio of -0.44. The chart below compares the historical Sharpe Ratios of VWNFX 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

	VWNFX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.25	-0.44	+2.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.59	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.66	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.48	+0.15

Drawdowns

VWNFX vs. BRK-B - Drawdown Comparison

The maximum VWNFX drawdown since its inception was -57.57%, 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 VWNFX and BRK-B.

Drawdown Indicators

	VWNFX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-57.57%	-53.86%	-3.71%
Max Drawdown (1Y) Largest decline over 1 year	-7.86%	-9.42%	+1.56%
Max Drawdown (3Y) Largest decline over 3 years	-21.76%	-14.95%	-6.81%
Max Drawdown (5Y) Largest decline over 5 years	-22.72%	-26.58%	+3.86%
Max Drawdown (10Y) Largest decline over 10 years	-37.44%	-29.57%	-7.87%
Current Drawdown Current decline from peak	0.00%	-12.65%	+12.65%
Average Drawdown Average peak-to-trough decline	-7.47%	-11.07%	+3.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	4.73%	-2.81%

Volatility

VWNFX vs. BRK-B - Volatility Comparison

The current volatility for Vanguard Windsor II Fund Investor Shares (VWNFX) is 2.32%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.79%. This indicates that VWNFX 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

	VWNFX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	3.79%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	8.18%	10.68%	-2.50%
Volatility (1Y) Calculated over the trailing 1-year period	11.05%	14.31%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	17.11%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	19.43%	-0.82%

Dividends

VWNFX vs. BRK-B - Dividend Comparison

VWNFX's dividend yield for the trailing twelve months is around 10.68%, 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%
VWNFX Vanguard Windsor II Fund Investor Shares	10.68%	11.46%	10.50%	5.11%	7.26%	7.83%	7.31%	10.06%	11.38%	7.34%	8.08%	7.96%

Frequently Asked Questions

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

VWNFX and BRK-B have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VWNFX or BRK-B?

BRK-B has higher volatility (3.79%) compared to VWNFX (2.32%). In terms of maximum drawdown, VWNFX dropped -57.57% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

VWNFX currently has the higher Sharpe Ratio (2.25 vs -0.44), 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.