XME vs. BRK-B

Last updated Jun 14, 2026

XME (SPDR S&P Metals & Mining ETF) is Materials fund tracking the S&P Metals & Mining Select Industry Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, XME returned 19.60%/yr vs 13.22%/yr for BRK-B. At a 0.42 correlation, their price movements are largely independent.

Performance

XME vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Metals & Mining ETF (XME) 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, XME achieves a 16.32% return, which is significantly higher than BRK-B's -2.67% return. Over the past 10 years, XME has outperformed BRK-B with an annualized return of 19.60%, while BRK-B has yielded a comparatively lower 13.22% annualized return.

XME

• 1D: 1.77%
• 1M: -0.44%
• YTD: 16.32%
• 6M: 18.13%
• 1Y: 85.07%
• 3Y*: 35.23%
• 5Y*: 21.78%
• 10Y*: 19.60%

BRK-B

• 1D: 0.71%
• 1M: 1.36%
• 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)

XME vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XME SPDR S&P Metals & Mining ETF	16.32%	83.47%	-4.54%	21.51%	13.13%	34.92%	15.95%	14.69%	-26.78%	21.17%
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 XME and BRK-B is -0.06, 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	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Jun 22, 2006	0.42

The correlation between XME and BRK-B shifts across timeframes, from -0.06 (1 year) to 0.43 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

XME vs. BRK-B — Risk / Return Rank

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

XME

XME Risk / Return Rank: 75
XME Sharpe Ratio Rank: 86
XME Sortino Ratio Rank: 74
XME Omega Ratio Rank: 73
XME Calmar Ratio Rank: 82
XME Martin Ratio Rank: 61

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.

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

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Metals & Mining ETF (XME) 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.

	XME	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	2.41	-0.02	+2.42
Sortino ratio: Return per unit of downside risk	2.86	0.08	+2.78
Omega ratio: Gain probability vs. loss probability	1.37	1.01	+0.36
Calmar ratio: Return relative to maximum drawdown	3.84	-0.02	+3.87
Martin ratio: Return relative to average drawdown	9.58	-0.05	+9.63

XME vs. BRK-B - Sharpe Ratio Comparison

The current XME Sharpe Ratio is 2.41, which is higher than the BRK-B Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of XME 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

XME vs. BRK-B - Drawdown Comparison

The maximum XME drawdown since its inception was -85.89%, 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 XME and BRK-B.

Drawdown Indicators

	XME	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-85.89%	-53.86%	-32.03%
Max Drawdown (1Y) Largest decline over 1 year	-22.60%	-9.42%	-13.18%
Max Drawdown (3Y) Largest decline over 3 years	-30.47%	-14.95%	-15.52%
Max Drawdown (5Y) Largest decline over 5 years	-37.27%	-26.58%	-10.69%
Max Drawdown (10Y) Largest decline over 10 years	-61.69%	-29.57%	-32.12%
Current Drawdown Current decline from peak	-9.33%	-9.36%	+0.03%
Average Drawdown Average peak-to-trough decline	-44.09%	-11.07%	-33.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.05%	4.53%	+4.52%

Volatility

XME vs. BRK-B - Volatility Comparison

SPDR S&P Metals & Mining ETF (XME) has a higher volatility of 15.26% compared to Berkshire Hathaway Inc. (BRK-B) at 3.95%. This indicates that XME'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

	XME	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.26%	3.95%	+11.31%
Volatility (6M) Calculated over the trailing 6-month period	28.51%	10.78%	+17.73%
Volatility (1Y) Calculated over the trailing 1-year period	36.11%	14.38%	+21.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.84%	17.12%	+15.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.96%	19.44%	+13.52%

Dividends

XME vs. BRK-B - Dividend Comparison

XME's dividend yield for the trailing twelve months is around 0.32%, 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%
XME SPDR S&P Metals & Mining ETF	0.32%	0.38%	0.65%	1.00%	1.64%	0.70%	0.99%	2.43%	2.23%	1.15%	1.02%	2.61%

Frequently Asked Questions

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

XME and BRK-B have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XME or BRK-B?

XME has higher volatility (15.26%) compared to BRK-B (3.95%). In terms of maximum drawdown, XME dropped -85.89% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

XME currently has the higher Sharpe Ratio (2.41 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.