XLF vs. BRK-B

Last updated Jun 9, 2026

XLF (State Street Financial Select Sector SPDR ETF) is Financials Equities fund tracking the Financial Select Sector Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, XLF returned 12.79%/yr vs 13.14%/yr for BRK-B. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

XLF vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Financial Select Sector SPDR ETF (XLF) 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, XLF achieves a -4.62% return, which is significantly lower than BRK-B's -3.11% return. Both investments have delivered pretty close results over the past 10 years, with XLF having a 12.79% annualized return and BRK-B not far ahead at 13.14%.

XLF

• 1D: -0.63%
• 1M: 1.42%
• YTD: -4.62%
• 6M: -1.98%
• 1Y: 2.91%
• 3Y*: 18.06%
• 5Y*: 8.47%
• 10Y*: 12.79%

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)

XLF vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XLF State Street Financial Select Sector SPDR ETF	-4.62%	14.90%	30.56%	12.03%	-10.59%	34.80%	-1.74%	31.88%	-13.06%	22.00%
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between XLF and BRK-B is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 23, 1998	0.57

The correlation between XLF and BRK-B shifts across timeframes, from 0.51 (1 year) to 0.80 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

XLF vs. BRK-B — Risk / Return Rank

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

XLF

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

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.

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

This table presents a comparison of risk-adjusted performance metrics for State Street Financial Select Sector SPDR ETF (XLF) 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.

	XLF	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	0.20	-0.09	+0.29
Sortino ratio: Return per unit of downside risk	0.37	-0.03	+0.40
Omega ratio: Gain probability vs. loss probability	1.05	1.00	+0.05
Calmar ratio: Return relative to maximum drawdown	0.20	-0.14	+0.34
Martin ratio: Return relative to average drawdown	0.51	-0.30	+0.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLF vs. BRK-B - Sharpe Ratio Comparison

The current XLF Sharpe Ratio is 0.20, which is higher than the BRK-B Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of XLF 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

	XLF	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.20	-0.09	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.65	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.68	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	0.48	-0.28

Drawdowns

XLF vs. BRK-B - Drawdown Comparison

The maximum XLF drawdown since its inception was -82.69%, 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 XLF and BRK-B.

Drawdown Indicators

	XLF	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-82.69%	-53.86%	-28.83%
Max Drawdown (1Y) Largest decline over 1 year	-14.79%	-9.42%	-5.37%
Max Drawdown (3Y) Largest decline over 3 years	-15.54%	-14.95%	-0.59%
Max Drawdown (5Y) Largest decline over 5 years	-25.81%	-26.58%	+0.77%
Max Drawdown (10Y) Largest decline over 10 years	-42.86%	-29.57%	-13.29%
Current Drawdown Current decline from peak	-7.38%	-9.78%	+2.40%
Average Drawdown Average peak-to-trough decline	-20.02%	-11.07%	-8.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.71%	4.49%	+1.22%

Volatility

XLF vs. BRK-B - Volatility Comparison

State Street Financial Select Sector SPDR ETF (XLF) has a higher volatility of 4.20% compared to Berkshire Hathaway Inc. (BRK-B) at 3.98%. This indicates that XLF'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

	XLF	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	3.98%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	11.18%	10.87%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	14.38%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.66%	17.13%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.18%	19.44%	+2.74%

Dividends

XLF vs. BRK-B - Dividend Comparison

XLF's dividend yield for the trailing twelve months is around 1.52%, 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%
XLF State Street Financial Select Sector SPDR ETF	1.52%	1.31%	1.42%	1.71%	2.04%	1.63%	2.03%	1.87%	2.08%	1.48%	21.10%	1.95%

Frequently Asked Questions

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

XLF and BRK-B have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLF or BRK-B?

XLF has higher volatility (4.20%) compared to BRK-B (3.98%). In terms of maximum drawdown, XLF dropped -82.69% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

XLF currently has the higher Sharpe Ratio (0.20 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.