APDFX vs. BUFHX
APDFX (Artisan High Income Fund Advisor Class) and BUFHX (Buffalo High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, APDFX returned 6.44%/yr vs 5.39%/yr for BUFHX. A 0.66 correlation means they provide meaningful diversification when combined. APDFX charges 0.80%/yr vs 1.02%/yr for BUFHX.
Performance
APDFX vs. BUFHX - Performance Comparison
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Returns By Period
In the year-to-date period, APDFX achieves a 0.94% return, which is significantly lower than BUFHX's 1.99% return. Over the past 10 years, APDFX has outperformed BUFHX with an annualized return of 6.44%, while BUFHX has yielded a comparatively lower 5.39% annualized return.
APDFX
- 1D
- 0.00%
- 1M
- 0.83%
- YTD
- 0.94%
- 6M
- 1.66%
- 1Y
- 5.59%
- 3Y*
- 9.04%
- 5Y*
- 4.19%
- 10Y*
- 6.44%
BUFHX
- 1D
- 0.00%
- 1M
- 0.67%
- YTD
- 1.99%
- 6M
- 2.19%
- 1Y
- 4.89%
- 3Y*
- 8.27%
- 5Y*
- 4.85%
- 10Y*
- 5.39%
APDFX vs. BUFHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APDFX Artisan High Income Fund Advisor Class | 0.94% | 8.32% | 8.46% | 15.98% | -10.57% | 3.99% | 9.67% | 14.84% | -1.40% | 9.01% |
BUFHX Buffalo High Yield Fund | 1.99% | 5.11% | 10.35% | 11.68% | -5.53% | 5.52% | 9.26% | 12.33% | -2.26% | 5.98% |
Correlation
The correlation between APDFX and BUFHX is 0.64, 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 | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.74 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2014 | 0.66 |
The correlation between APDFX and BUFHX has been stable across timeframes, ranging from 0.64 to 0.74 - a consistent structural relationship.
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Return for Risk
APDFX vs. BUFHX — Risk / Return Rank
APDFX
BUFHX
APDFX vs. BUFHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Artisan High Income Fund Advisor Class (APDFX) and Buffalo High Yield Fund (BUFHX). 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.
| APDFX | BUFHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.43 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 2.35 | -0.30 |
| Martin ratioReturn relative to average drawdown | 9.21 | 9.94 | -0.73 |
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Drawdowns
APDFX vs. BUFHX - Drawdown Comparison
The maximum APDFX drawdown since its inception was -21.52%, smaller than the maximum BUFHX drawdown of -26.01%. Use the drawdown chart below to compare losses from any high point for APDFX and BUFHX.
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Drawdown Indicators
| APDFX | BUFHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.52% | -26.01% | +4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -2.75% | -2.13% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -3.30% | -3.83% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -14.64% | -9.98% | -4.66% |
Max Drawdown (10Y)Largest decline over 10 years | -21.52% | -18.74% | -2.78% |
Current DrawdownCurrent decline from peak | -0.11% | -0.09% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -2.13% | -2.02% | -0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.50% | +0.11% |
Volatility
APDFX vs. BUFHX - Volatility Comparison
Artisan High Income Fund Advisor Class (APDFX) has a higher volatility of 0.80% compared to Buffalo High Yield Fund (BUFHX) at 0.60%. This indicates that APDFX's price experiences larger fluctuations and is considered to be riskier than BUFHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APDFX | BUFHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.60% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.40% | 1.97% | +0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.02% | 2.51% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 3.15% | +1.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.24% | 4.04% | +1.20% |
APDFX vs. BUFHX - Expense Ratio Comparison
APDFX has a 0.80% expense ratio, which is lower than BUFHX's 1.02% expense ratio.
Dividends
APDFX vs. BUFHX - Dividend Comparison
APDFX's dividend yield for the trailing twelve months is around 7.06%, which matches BUFHX's 7.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APDFX Artisan High Income Fund Advisor Class | 7.06% | 6.86% | 7.27% | 7.39% | 6.34% | 5.41% | 5.42% | 6.94% | 7.17% | 8.01% | 6.70% | 7.48% |
BUFHX Buffalo High Yield Fund | 7.08% | 6.84% | 8.03% | 6.41% | 8.05% | 7.24% | 4.11% | 4.21% | 5.17% | 4.57% | 3.85% | 5.51% |
Frequently Asked Questions
APDFX and BUFHX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APDFX has higher volatility (0.80%) compared to BUFHX (0.60%). In terms of maximum drawdown, APDFX dropped -21.52% vs BUFHX's -26.01%.
BUFHX currently has the higher Sharpe Ratio (2.00 vs 1.87), 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.
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