Which was the better investment since 2020, Berkshire Hathaway or S&P 500 (SPY)?

S&P 500 (SPY) was the better investment. $1,000 invested in S&P 500 (SPY) in 2020 would be worth $2,540 today, compared to $2,230 for Berkshire Hathaway.

What would $1,000 in Berkshire Hathaway vs S&P 500 (SPY) be worth today?

$1,000 invested in Berkshire Hathaway in 2020 would be worth $2,230 today (+123.0%). The same $1,000 in S&P 500 (SPY) would be worth $2,540 (+154.0%).

How do Berkshire Hathaway and S&P 500 (SPY) compare to the S&P 500 since 2020?

The same $1,000 invested in the S&P 500 in 2020 would be worth $2,540 today (+154%). Berkshire Hathaway returned $2,230 and S&P 500 (SPY) returned $2,540 over the same period.

Berkshire Hathaway vs S&P 500 (SPY): $1,000 invested since 2020

BRK-B vs SPY · Data through 2026-06-01

Investment amount

$1,000 invested in 2020 would be worth

Berkshire Hathaway

$2,230

+123.0%

S&P 500 (SPY)Winner

$2,540

+154.0%

The same $1,000 in the S&P 500 would be worth $2,540(+154%)

Growth of $1,000

Berkshire Hathaway vs. S&P 500 (SPY) vs. S&P 500, 2020 to present

Year-by-year comparison

Berkshire Hathaway vs. S&P 500 (SPY), 2020 to present

Year	Berkshire Hathaway	Return	S&P 500 (SPY)	Return	S&P 500
2020	$1,000	-	$1,000	-	$1,000
2021	$1,015	+1.5%	$1,172	+17.2%	$1,172
2022	$1,395	+37.4%	$1,444	+23.2%	$1,444
2023	$1,388	-0.5%	$1,325	-8.2%	$1,325
2024	$1,710	+23.2%	$1,598	+20.6%	$1,598
2025	$2,088	+22.1%	$2,018	+26.2%	$2,018
2026	$2,141	+2.5%	$2,347	+16.3%	$2,347

Which came out ahead

From a $1,000 stake at the start of 2020, S&P 500 (SPY) came out ahead of Berkshire Hathaway (BRK-B). That $1,000 grew to $2,540 in SPY versus $2,230 in BRK-B as of 2026-06-01, roughly $310 more in the end.

In total-return terms the order is clear. S&P 500 (SPY) returned +154.0% against Berkshire Hathaway at +123.0%, a gap of about 31.0 percentage points over the 6.6-year window. Compounded, that is about 15.2% a year for SPY against 13% for BRK-B.

Because S&P 500 (SPY) is itself a broad index fund, this matchup measures a single position against the market rather than against another single stock. All figures use split-adjusted closing prices and exclude dividends, taxes, fees, and inflation, so a real after-tax result would differ.

This is a record of what already happened, not financial advice or a recommendation of either name. Past performance does not guarantee future results.

Other start years

Berkshire Hathaway vs S&P 500 (SPY) from a different starting point

Since 2000 Since 2005 Since 2010 Since 2015 Since 2023

Individual stock pages

Berkshire Hathaway since 2020+123.0%S&P 500 (SPY) since 2020+154.0%

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For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. All calculations are based on split-adjusted closing prices from Yahoo Finance and do not account for dividends, taxes, or trading fees. See our methodology and full disclaimer.