BUFDX vs. BRK-B

Last updated Jun 25, 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 12.93%/yr vs 13.48%/yr for BRK-B. A 0.68 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 6.64% return, which is significantly higher than BRK-B's -1.56% return. Both investments have delivered pretty close results over the past 10 years, with BUFDX having a 12.93% annualized return and BRK-B not far ahead at 13.48%.

BUFDX

• 1D: -0.03%
• 1M: -0.64%
• YTD: 6.64%
• 6M: 5.49%
• 1Y: 14.66%
• 3Y*: 15.71%
• 5Y*: 10.25%
• 10Y*: 12.93%

BRK-B

• 1D: 0.41%
• 1M: 1.73%
• YTD: -1.56%
• 6M: -1.30%
• 1Y: 0.27%
• 3Y*: 13.86%
• 5Y*: 12.19%
• 10Y*: 13.48%

*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	6.64%	8.39%	20.13%	20.07%	-8.77%	20.95%	16.62%	27.67%	-5.06%	17.64%
BRK-B Berkshire Hathaway Inc.	-1.56%	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 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.68

Over the past year, the correlation between BUFDX and BRK-B has dropped to 0.32 - well below their long-term average of 0.68, 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: 36
BUFDX Sharpe Ratio Rank: 33
BUFDX Sortino Ratio Rank: 32
BUFDX Omega Ratio Rank: 33
BUFDX Calmar Ratio Rank: 35
BUFDX Martin Ratio Rank: 45

BRK-B

BRK-B Risk / Return Rank: 40
BRK-B Sharpe Ratio Rank: 44
BRK-B Sortino Ratio Rank: 35
BRK-B Omega Ratio Rank: 35
BRK-B Calmar Ratio Rank: 44
BRK-B Martin Ratio Rank: 43

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.

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.

	BUFDX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.47	0.02	+1.45
Sortino ratio: Return per unit of downside risk	2.09	0.12	+1.97
Omega ratio: Gain probability vs. loss probability	1.27	1.02	+0.25
Calmar ratio: Return relative to maximum drawdown	2.04	0.03	+2.01
Martin ratio: Return relative to average drawdown	8.69	0.06	+8.63

BUFDX vs. BRK-B - Sharpe Ratio Comparison

The current BUFDX Sharpe Ratio is 1.47, which is higher than the BRK-B Sharpe Ratio of 0.02. 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.

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	-1.91%	-8.33%	+6.42%
Average Drawdown Average peak-to-trough decline	-3.13%	-11.07%	+7.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	4.58%	-2.78%

Volatility

BUFDX vs. BRK-B - Volatility Comparison

Buffalo Dividend Focus Fund (BUFDX) and Berkshire Hathaway Inc. (BRK-B) have volatilities of 3.58% and 3.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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	3.58%	3.55%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	8.16%	10.49%	-2.33%
Volatility (1Y) Calculated over the trailing 1-year period	10.67%	14.38%	-3.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.26%	17.10%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	19.39%	-3.50%

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 0.32, 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?

BUFDX has higher volatility (3.58%) compared to BRK-B (3.55%). 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 (1.47 vs 0.02), 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.