BUFBX vs. NFLY

Last updated Aug 4, 2026

BUFBX (Buffalo Flexible Income Fund) and NFLY (YieldMax NFLX Option Income Strategy ETF) are both funds - BUFBX is a Large Cap Value Equities fund managed by Buffalo, while NFLY is a Derivative Income fund actively managed by YieldMax. Over the past year, BUFBX returned 21.09% vs -32.36% for NFLY. Their 0.20 correlation means their historical movements had little consistent relationship. BUFBX charges 1.01%/yr vs 0.99%/yr for NFLY.

Performance

BUFBX vs. NFLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Buffalo Flexible Income Fund (BUFBX) and YieldMax NFLX Option Income Strategy ETF (NFLY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFBX achieves a 14.75% return, which is significantly higher than NFLY's -18.99% return.

BUFBX

• 1D: 0.39%
• 1M: 3.93%
• 6M: 9.86%
• YTD: 14.75%
• 1Y: 21.09%
• 3Y*: 12.91%
• 5Y*: 11.58%
• 10Y*: 9.93%
• ALL TIME*: 7.89%

NFLY

• 1D: 0.64%
• 1M: -6.29%
• 6M: -11.13%
• YTD: -18.99%
• 1Y: -32.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.51%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BUFBX Buffalo Flexible Income Fund	$0.00	$0.00	$0.00
NFLY YieldMax NFLX Option Income Strategy ETF	$380.96K	$503.81K	$707.01K

BUFBX vs. NFLY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BUFBX Buffalo Flexible Income Fund	14.75%	10.37%	10.26%	3.57%
NFLY YieldMax NFLX Option Income Strategy ETF	-18.99%	1.66%	66.37%	3.80%

Correlation

The correlation between BUFBX and NFLY is 0.14, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.14
Correlation (All Time) Calculated using the full available price history since Aug 8, 2023	0.20

Return for Risk

BUFBX vs. NFLY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BUFBX

BUFBX Risk / Return Rank: 88
BUFBX Sharpe Ratio Rank: 86
BUFBX Sortino Ratio Rank: 83
BUFBX Omega Ratio Rank: 80
BUFBX Calmar Ratio Rank: 96
BUFBX Martin Ratio Rank: 94

NFLY

NFLY Risk / Return Rank: 1
NFLY Sharpe Ratio Rank: 1
NFLY Sortino Ratio Rank: 1
NFLY Omega Ratio Rank: 1
NFLY Calmar Ratio Rank: 3
NFLY Martin Ratio Rank: 1

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BUFBX vs. NFLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Buffalo Flexible Income Fund (BUFBX) and YieldMax NFLX Option Income Strategy ETF (NFLY). 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.

	BUFBX	NFLY	Difference
Sharpe ratio: Return per unit of total volatility	2.12	-1.13	+3.25
Sortino ratio: Return per unit of downside risk	2.96	-1.62	+4.58
Omega ratio: Gain probability vs. loss probability	1.38	0.79	+0.59
Calmar ratio: Return relative to maximum drawdown	4.64	-0.80	+5.44
Martin ratio: Return relative to average drawdown	14.99	-1.45	+16.44

BUFBX vs. NFLY - Sharpe Ratio Comparison

The current BUFBX Sharpe Ratio is 2.12, which is higher than the NFLY Sharpe Ratio of -1.13. The chart below compares the historical Sharpe Ratios of BUFBX and NFLY, 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

BUFBX vs. NFLY - Drawdown Comparison

The maximum BUFBX drawdown since its inception was -39.78%, smaller than the maximum NFLY drawdown of -43.49%. Use the drawdown chart below to compare losses from any high point for BUFBX and NFLY.

Drawdown Indicators

	BUFBX	NFLY	Difference
Max Drawdown Largest peak-to-trough decline	-39.78%	-43.49%	+3.71%
Max Drawdown (1Y) Largest decline over 1 year	-4.45%	-40.74%	+36.29%
Max Drawdown (3Y) Largest decline over 3 years	-12.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.67%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.51%	—	—
Current Drawdown Current decline from peak	0.00%	-39.84%	+39.84%
Average Drawdown Average peak-to-trough decline	-4.71%	-10.09%	+5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	22.37%	-20.99%

Volatility

BUFBX vs. NFLY - Volatility Comparison

The current volatility for Buffalo Flexible Income Fund (BUFBX) is 3.73%, while YieldMax NFLX Option Income Strategy ETF (NFLY) has a volatility of 7.96%. This indicates that BUFBX experiences smaller price fluctuations and is considered to be less risky than NFLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFBX	NFLY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	7.96%	-4.23%
Volatility (6M) Calculated over the trailing 6-month period	7.75%	22.66%	-14.91%
Volatility (1Y) Calculated over the trailing 1-year period	9.77%	28.74%	-18.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.46%	28.36%	-14.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	28.36%	-12.76%

BUFBX vs. NFLY - Expense Ratio Comparison

BUFBX has a 1.01% expense ratio, which is higher than NFLY's 0.99% expense ratio.

Dividends

BUFBX vs. NFLY - Dividend Comparison

BUFBX's dividend yield for the trailing twelve months is around 7.94%, less than NFLY's 63.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFBX Buffalo Flexible Income Fund	7.94%	9.10%	3.77%	3.48%	4.16%	5.57%	3.33%	2.73%	6.01%	5.49%	2.39%	3.67%
NFLY YieldMax NFLX Option Income Strategy ETF	63.76%	61.53%	49.91%	11.84%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUFBX and NFLY in my portfolio?

BUFBX and NFLY have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFBX or NFLY?

NFLY has higher volatility (7.96%) compared to BUFBX (3.73%). In terms of maximum drawdown, BUFBX dropped -39.78% vs NFLY's -43.49%.

Which has better risk-adjusted returns?

BUFBX currently has the higher Sharpe Ratio (2.12 vs -1.13), 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.