BUFBX vs. PFF
BUFBX (Buffalo Flexible Income Fund) and PFF (iShares Preferred and Income Securities ETF) are both funds - BUFBX is a Large Cap Value Equities fund managed by Buffalo, while PFF is a Preferred Stock/Convertible Bonds fund tracking the ICE Exchange-Listed Preferred & Hybrid Securities Index. Over the past 10 years, BUFBX returned 9.49%/yr vs 3.23%/yr for PFF. At a 0.49 correlation, their price movements are largely independent. BUFBX charges 1.01%/yr vs 0.46%/yr for PFF.
Performance
BUFBX vs. PFF - Performance Comparison
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Returns By Period
In the year-to-date period, BUFBX achieves a 8.04% return, which is significantly higher than PFF's 1.64% return. Over the past 10 years, BUFBX has outperformed PFF with an annualized return of 9.49%, while PFF has yielded a comparatively lower 3.23% annualized return.
BUFBX
- 1D
- -0.69%
- 1M
- -4.45%
- YTD
- 8.04%
- 6M
- 8.15%
- 1Y
- 14.29%
- 3Y*
- 11.59%
- 5Y*
- 10.73%
- 10Y*
- 9.49%
PFF
- 1D
- -1.25%
- 1M
- -0.85%
- YTD
- 1.64%
- 6M
- 1.02%
- 1Y
- 7.50%
- 3Y*
- 6.76%
- 5Y*
- 1.08%
- 10Y*
- 3.23%
BUFBX vs. PFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BUFBX Buffalo Flexible Income Fund | 8.04% | 10.37% | 10.26% | 7.42% | 3.97% | 29.97% | -2.27% | 18.76% | -7.01% | 13.20% |
PFF iShares Preferred and Income Securities ETF | 1.64% | 4.87% | 7.24% | 9.22% | -18.19% | 7.15% | 7.89% | 15.93% | -4.64% | 8.10% |
Correlation
The correlation between BUFBX and PFF is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.50 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2007 | 0.49 |
The correlation between BUFBX and PFF shifts across timeframes, from 0.33 (1 year) to 0.50 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BUFBX vs. PFF — Risk / Return Rank
BUFBX
PFF
BUFBX vs. PFF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Buffalo Flexible Income Fund (BUFBX) and iShares Preferred and Income Securities ETF (PFF). 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 | PFF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.18 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 1.43 | +1.79 |
| Martin ratioReturn relative to average drawdown | 11.59 | 4.32 | +7.27 |
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Drawdowns
BUFBX vs. PFF - Drawdown Comparison
The maximum BUFBX drawdown since its inception was -39.78%, smaller than the maximum PFF drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for BUFBX and PFF.
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Drawdown Indicators
| BUFBX | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.78% | -65.55% | +25.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.45% | -5.28% | +0.83% |
Max Drawdown (3Y)Largest decline over 3 years | -12.85% | -10.63% | -2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -14.67% | -21.05% | +6.38% |
Max Drawdown (10Y)Largest decline over 10 years | -35.51% | -34.10% | -1.41% |
Current DrawdownCurrent decline from peak | -4.45% | -2.35% | -2.10% |
Average DrawdownAverage peak-to-trough decline | -4.72% | -5.75% | +1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.74% | -0.51% |
Volatility
BUFBX vs. PFF - Volatility Comparison
Buffalo Flexible Income Fund (BUFBX) has a higher volatility of 3.42% compared to iShares Preferred and Income Securities ETF (PFF) at 2.42%. This indicates that BUFBX's price experiences larger fluctuations and is considered to be riskier than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUFBX | PFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 2.42% | +1.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.93% | 5.43% | +1.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.18% | 7.04% | +2.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.42% | 10.35% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.61% | 12.68% | +2.93% |
BUFBX vs. PFF - Expense Ratio Comparison
BUFBX has a 1.01% expense ratio, which is higher than PFF's 0.46% expense ratio.
Dividends
BUFBX vs. PFF - Dividend Comparison
BUFBX's dividend yield for the trailing twelve months is around 8.43%, more than PFF's 5.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFBX Buffalo Flexible Income Fund | 8.43% | 9.10% | 3.77% | 3.48% | 4.16% | 5.57% | 3.33% | 2.73% | 6.01% | 5.49% | 2.39% | 3.67% |
PFF iShares Preferred and Income Securities ETF | 5.54% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
Frequently Asked Questions
BUFBX and PFF have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFBX has higher volatility (3.42%) compared to PFF (2.42%). In terms of maximum drawdown, BUFBX dropped -39.78% vs PFF's -65.55%.
BUFBX currently has the higher Sharpe Ratio (1.56 vs 1.07), 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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