BHBFX vs. BUFBX
BHBFX (Madison Dividend Income Fund) and BUFBX (Buffalo Flexible Income Fund) are both Large Cap Value Equities funds. Over the past 10 years, BHBFX returned 9.97%/yr vs 9.64%/yr for BUFBX. A 0.80 correlation means they provide meaningful diversification when combined. BHBFX charges 0.91%/yr vs 1.01%/yr for BUFBX.
Performance
BHBFX vs. BUFBX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BHBFX having a 8.61% return and BUFBX slightly lower at 8.19%. Both investments have delivered pretty close results over the past 10 years, with BHBFX having a 9.97% annualized return and BUFBX not far behind at 9.64%.
BHBFX
- 1D
- 0.34%
- 1M
- -0.49%
- YTD
- 8.61%
- 6M
- 8.10%
- 1Y
- 14.14%
- 3Y*
- 10.37%
- 5Y*
- 6.07%
- 10Y*
- 9.97%
BUFBX
- 1D
- 0.14%
- 1M
- -4.32%
- YTD
- 8.19%
- 6M
- 8.08%
- 1Y
- 14.07%
- 3Y*
- 12.42%
- 5Y*
- 10.40%
- 10Y*
- 9.64%
BHBFX vs. BUFBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BHBFX Madison Dividend Income Fund | 8.61% | 8.19% | 7.62% | 1.76% | -5.50% | 22.82% | 6.34% | 25.17% | -0.81% | 19.94% |
BUFBX Buffalo Flexible Income Fund | 8.19% | 10.37% | 10.26% | 7.42% | 3.97% | 29.97% | -2.27% | 18.76% | -7.01% | 13.20% |
Correlation
The correlation between BHBFX and BUFBX is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 1994 | 0.80 |
The correlation between BHBFX and BUFBX shifts across timeframes, from 0.68 (1 year) to 0.84 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
BHBFX vs. BUFBX — Risk / Return Rank
BHBFX
BUFBX
BHBFX vs. BUFBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Madison Dividend Income Fund (BHBFX) and Buffalo Flexible Income Fund (BUFBX). 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.
| BHBFX | BUFBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.32 | 3.26 | -0.94 |
| Martin ratioReturn relative to average drawdown | 6.48 | 11.49 | -5.01 |
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Drawdowns
BHBFX vs. BUFBX - Drawdown Comparison
The maximum BHBFX drawdown since its inception was -34.07%, smaller than the maximum BUFBX drawdown of -39.78%. Use the drawdown chart below to compare losses from any high point for BHBFX and BUFBX.
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Drawdown Indicators
| BHBFX | BUFBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.07% | -39.78% | +5.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.39% | -4.45% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -14.32% | -12.85% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -23.80% | -14.67% | -9.13% |
Max Drawdown (10Y)Largest decline over 10 years | -32.34% | -35.51% | +3.17% |
Current DrawdownCurrent decline from peak | -1.79% | -4.32% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -4.72% | +1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 1.26% | +1.02% |
Volatility
BHBFX vs. BUFBX - Volatility Comparison
The current volatility for Madison Dividend Income Fund (BHBFX) is 3.04%, while Buffalo Flexible Income Fund (BUFBX) has a volatility of 3.41%. This indicates that BHBFX experiences smaller price fluctuations and is considered to be less risky than BUFBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BHBFX | BUFBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 3.41% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 7.45% | 6.92% | +0.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.25% | 9.19% | +1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.57% | 13.40% | +2.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.36% | 15.61% | +1.75% |
BHBFX vs. BUFBX - Expense Ratio Comparison
BHBFX has a 0.91% expense ratio, which is lower than BUFBX's 1.01% expense ratio.
Dividends
BHBFX vs. BUFBX - Dividend Comparison
BHBFX's dividend yield for the trailing twelve months is around 11.55%, more than BUFBX's 8.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHBFX Madison Dividend Income Fund | 11.55% | 12.41% | 14.14% | 6.01% | 9.39% | 11.53% | 1.53% | 3.95% | 12.73% | 3.89% | 3.76% | 6.06% |
BUFBX Buffalo Flexible Income Fund | 8.42% | 9.10% | 3.77% | 3.48% | 4.16% | 5.57% | 3.33% | 2.73% | 6.01% | 5.49% | 2.39% | 3.67% |
Frequently Asked Questions
BHBFX and BUFBX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFBX has higher volatility (3.41%) compared to BHBFX (3.04%). In terms of maximum drawdown, BHBFX dropped -34.07% vs BUFBX's -39.78%.
BUFBX currently has the higher Sharpe Ratio (1.58 vs 1.45), 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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