- ISIN
- US1195303011
- CUSIP
- 119530301
- Issuer
- Buffalo
- Inception Date
- May 21, 2004
- Category
- Small Cap Growth Equities
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Growth
Share Price Chart
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Performance
BUFOX Performance Chart
Buffalo Early Stage Growth Fund (BUFOX) is up 17.1% since the beginning of the year. BUFOX is currently trading at $19 per share. Investors who bought $1,000 worth of BUFOX shares 5 years ago would now be looking at an investment worth $953.
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Returns By Period
Buffalo Early Stage Growth Fund (BUFOX) has returned 17.05% so far this year and 32.67% over the past 12 months. Over the last ten years, BUFOX has returned 11.24% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Buffalo Early Stage Growth Fund
- 1D
- 2.70%
- 1M
- 7.70%
- YTD
- 17.05%
- 6M
- 13.21%
- 1Y
- 32.67%
- 3Y*
- 8.32%
- 5Y*
- -0.95%
- 10Y*
- 11.24%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
BUFOX Monthly Returns History
Based on dividend-adjusted daily data since May 25, 2004, BUFOX's average daily return is +0.04%, while the average monthly return is +0.87%. At this rate, an investment would double in approximately 6.7 years.
Historically, 59% of months were positive and 41% were negative. The best month was Apr 2009 with a return of +22.5%, while the worst month was Oct 2008 at -25.3%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 6 months.
On a daily basis, BUFOX closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +8.5%, while the worst single day was Mar 16, 2020 at -12.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.71% | 1.98% | -9.40% | 9.66% | 7.10% | 5.02% | 17.05% | ||||||
| 2025 | 3.08% | -7.49% | -5.50% | -1.87% | 2.93% | 5.43% | 3.58% | 6.07% | -1.20% | -0.12% | -3.19% | 2.35% | 3.09% |
| 2024 | -3.24% | 5.03% | 3.13% | -6.25% | 4.49% | -1.14% | 7.41% | -0.48% | 1.02% | -3.14% | 7.94% | -6.17% | 7.52% |
| 2023 | 12.39% | -2.34% | -2.34% | -3.26% | 0.89% | 8.85% | 2.13% | -6.74% | -7.75% | -8.61% | 8.41% | 10.78% | 9.83% |
| 2022 | -11.90% | -0.06% | -1.72% | -9.52% | -2.30% | -8.86% | 9.37% | -2.11% | -9.93% | 8.92% | 0.67% | -6.10% | -30.78% |
| 2021 | 3.38% | 8.29% | -3.87% | 3.73% | -1.58% | 5.17% | -1.68% | 0.71% | -3.19% | 2.48% | -6.99% | 1.74% | 7.43% |
Benchmark Metrics
Buffalo Early Stage Growth Fund has an annualized alpha of 0.02%, beta of 1.04, and R2 of 0.70 versus S&P 500 Index. Calculated based on daily prices since May 25, 2004.
- This fund participated in 113.73% of S&P 500 Index downside but only 111.50% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 1.04 and R2 of 0.70, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.02%
- Beta
- 1.04
- R²
- 0.70
- Upside Capture
- 111.50%
- Downside Capture
- 113.73%
Expense Ratio
BUFOX has a high expense ratio of 1.46%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
BUFOX ranks 28 for risk / return — below 28% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Buffalo Early Stage Growth Fund (BUFOX) and compare them to S&P 500 Index.
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.
| BUFOX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.62 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.37 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | 2.78 | -0.72 |
| Martin ratioReturn relative to average drawdown | 6.19 | 12.44 | -6.25 |
Dividends
Dividend History
Buffalo Early Stage Growth Fund provided a 4.36% dividend yield over the last twelve months, with an annual payout of $0.83 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.83 | $0.83 | $0.00 | $0.00 | $0.17 | $3.25 | $2.48 | $0.80 | $1.90 | $3.13 | $1.23 | $1.23 |
Dividend yield | 4.36% | 5.10% | 0.00% | 0.00% | 1.20% | 15.83% | 11.19% | 4.77% | 14.50% | 20.01% | 8.35% | 8.53% |
Monthly Dividends
The table displays the monthly dividend distributions for Buffalo Early Stage Growth Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.83 | $0.83 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.17 | $0.17 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.25 | $3.25 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Buffalo Early Stage Growth Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Buffalo Early Stage Growth Fund was 69.71%, occurring on Mar 9, 2009. Recovery took 764 trading sessions.
The current Buffalo Early Stage Growth Fund drawdown is 9.98%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -69.71%Mar 2009 | 2y 16d | 3y 11d | 5y 27dFeb 2007 - Mar 2012 |
2023 bear market2023 | -43.17%Oct 2023 | 1y 11mo | — | 4y 7moNov 2021 - now |
COVID crash2020 | -39.13%Mar 2020 | 26d | 3mo 20d | 4mo 16dFeb 2020 - Jul 2020 |
2016 bear market2016 | -35.55%Feb 2016 | 1y 11mo | 1y 2mo | 3y 1moMar 2014 - May 2017 |
Rate-hike selloffLate 2018 | -25.71%Dec 2018 | 3mo 13d | 6mo 9d | 9mo 22dSep 2018 - Jul 2019 |
Drawdown Indicators
| BUFOX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.71% | -56.78% | -12.93% |
Max Drawdown (1Y)Largest decline over 1 year | -15.52% | -9.10% | -6.42% |
Max Drawdown (3Y)Largest decline over 3 years | -24.62% | -18.90% | -5.72% |
Max Drawdown (5Y)Largest decline over 5 years | -43.17% | -25.43% | -17.74% |
Max Drawdown (10Y)Largest decline over 10 years | -43.17% | -33.92% | -9.25% |
Current DrawdownCurrent decline from peak | -9.98% | -1.80% | -8.18% |
Average DrawdownAverage peak-to-trough decline | -16.04% | -10.71% | -5.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.18% | 2.03% | +3.15% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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