BUFDX vs. BRK-B

Last updated Jun 4, 2026

BUFDX (Buffalo Dividend Focus Fund) is Large Cap Blend Equities fund managed by Buffalo, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, BUFDX returned 12.80%/yr vs 12.91%/yr for BRK-B. A 0.69 correlation means they provide meaningful diversification when combined.

Performance

BUFDX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Buffalo Dividend Focus Fund (BUFDX) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFDX achieves a 7.73% return, which is significantly higher than BRK-B's -5.43% return. Both investments have delivered pretty close results over the past 10 years, with BUFDX having a 12.80% annualized return and BRK-B not far ahead at 12.91%.

BUFDX

• 1D: 0.73%
• 1M: 1.67%
• YTD: 7.73%
• 6M: 7.87%
• 1Y: 16.77%
• 3Y*: 16.33%
• 5Y*: 10.64%
• 10Y*: 12.80%

BRK-B

• 1D: 0.82%
• 1M: 1.46%
• YTD: -5.43%
• 6M: -5.61%
• 1Y: -4.51%
• 3Y*: 13.00%
• 5Y*: 10.20%
• 10Y*: 12.91%

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

BUFDX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BUFDX Buffalo Dividend Focus Fund	7.73%	8.39%	20.13%	20.07%	-8.77%	20.95%	16.62%	27.67%	-5.06%	17.64%
BRK-B Berkshire Hathaway Inc.	-5.43%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between BUFDX and BRK-B is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.69

Over the past year, the correlation between BUFDX and BRK-B has dropped to 0.34 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

Return for Risk

BUFDX vs. BRK-B — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BUFDX

BUFDX Risk / Return Rank: 38
BUFDX Sharpe Ratio Rank: 35
BUFDX Sortino Ratio Rank: 34
BUFDX Omega Ratio Rank: 35
BUFDX Calmar Ratio Rank: 37
BUFDX Martin Ratio Rank: 48

BRK-B

BRK-B Risk / Return Rank: 23
BRK-B Sharpe Ratio Rank: 27
BRK-B Sortino Ratio Rank: 22
BRK-B Omega Ratio Rank: 23
BRK-B Calmar Ratio Rank: 24
BRK-B Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BUFDX vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Buffalo Dividend Focus Fund (BUFDX) and Berkshire Hathaway Inc. (BRK-B). 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.

	BUFDX	BRK-B	Difference
Sharpe ratio Return per unit of total volatility	1.70	-0.32	+2.01
Sortino ratio Return per unit of downside risk	2.43	-0.34	+2.77
Omega ratio Gain probability vs. loss probability	1.31	0.96	+0.35
Calmar ratio Return relative to maximum drawdown	2.28	-0.48	+2.77
Martin ratio Return relative to average drawdown	9.90	-1.02	+10.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFDX vs. BRK-B - Sharpe Ratio Comparison

The current BUFDX Sharpe Ratio is 1.70, which is higher than the BRK-B Sharpe Ratio of -0.32. The chart below compares the historical Sharpe Ratios of BUFDX and BRK-B, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BUFDX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	-0.32	+2.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.60	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.67	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.48	+0.40

Drawdowns

BUFDX vs. BRK-B - Drawdown Comparison

The maximum BUFDX drawdown since its inception was -33.11%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for BUFDX and BRK-B.

Drawdown Indicators

	BUFDX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-33.11%	-53.86%	+20.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-9.42%	+1.76%
Max Drawdown (3Y) Largest decline over 3 years	-17.71%	-14.95%	-2.76%
Max Drawdown (5Y) Largest decline over 5 years	-17.71%	-26.58%	+8.87%
Max Drawdown (10Y) Largest decline over 10 years	-33.11%	-29.57%	-3.54%
Current Drawdown Current decline from peak	0.00%	-11.94%	+11.94%
Average Drawdown Average peak-to-trough decline	-3.14%	-11.07%	+7.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	4.57%	-2.81%

Volatility

BUFDX vs. BRK-B - Volatility Comparison

The current volatility for Buffalo Dividend Focus Fund (BUFDX) is 1.72%, while Berkshire Hathaway Inc. (BRK-B) has a volatility of 3.75%. This indicates that BUFDX experiences smaller price fluctuations and is considered to be less risky than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFDX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	3.75%	-2.03%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	10.68%	-3.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.31%	14.33%	-4.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	17.11%	-2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	19.43%	-3.54%

Dividends

BUFDX vs. BRK-B - Dividend Comparison

BUFDX's dividend yield for the trailing twelve months is around 1.47%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
BUFDX Buffalo Dividend Focus Fund	1.47%	1.23%	1.26%	1.95%	2.61%	1.72%	0.46%	1.09%	5.20%	1.76%	0.96%	3.23%

Frequently Asked Questions

Can I hold both BUFDX and BRK-B in my portfolio?

BUFDX and BRK-B have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFDX or BRK-B?

BRK-B has higher volatility (3.75%) compared to BUFDX (1.72%). In terms of maximum drawdown, BUFDX dropped -33.11% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

BUFDX currently has the higher Sharpe Ratio (1.70 vs -0.32), 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.