BUFDX vs. BUFSX

Last updated Jun 4, 2026

BUFDX (Buffalo Dividend Focus Fund) and BUFSX (Buffalo Small Cap Fund) are both mutual funds - BUFDX is a Large Cap Blend Equities fund managed by Buffalo, while BUFSX is a Small Cap Growth Equities fund managed by Buffalo. Over the past 10 years, BUFDX returned 12.80%/yr vs 10.83%/yr for BUFSX. A 0.78 correlation means they provide meaningful diversification when combined. BUFDX charges 0.93%/yr vs 1.01%/yr for BUFSX.

Performance

BUFDX vs. BUFSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Buffalo Dividend Focus Fund (BUFDX) and Buffalo Small Cap Fund (BUFSX). 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 lower than BUFSX's 12.85% return. Over the past 10 years, BUFDX has outperformed BUFSX with an annualized return of 12.80%, while BUFSX has yielded a comparatively lower 10.83% annualized return.

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%

BUFSX

• 1D: 1.15%
• 1M: 5.14%
• YTD: 12.85%
• 6M: 11.50%
• 1Y: 19.44%
• 3Y*: 6.33%
• 5Y*: -3.30%
• 10Y*: 10.83%

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

BUFDX vs. BUFSX - 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%
BUFSX Buffalo Small Cap Fund	12.85%	-0.13%	5.38%	5.45%	-30.01%	4.44%	66.49%	40.97%	-5.73%	26.96%

Correlation

The correlation between BUFDX and BUFSX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013	0.78

The correlation between BUFDX and BUFSX has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

Return for Risk

BUFDX vs. BUFSX — 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

BUFSX

BUFSX Risk / Return Rank: 17
BUFSX Sharpe Ratio Rank: 17
BUFSX Sortino Ratio Rank: 17
BUFSX Omega Ratio Rank: 15
BUFSX Calmar Ratio Rank: 17
BUFSX 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. BUFSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Buffalo Dividend Focus Fund (BUFDX) and Buffalo Small Cap Fund (BUFSX). 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	BUFSX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.15	+0.55
Sortino ratio: Return per unit of downside risk	2.43	1.73	+0.69
Omega ratio: Gain probability vs. loss probability	1.31	1.20	+0.11
Calmar ratio: Return relative to maximum drawdown	2.28	1.46	+0.82
Martin ratio: Return relative to average drawdown	9.90	5.37	+4.53
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. BUFSX - Sharpe Ratio Comparison

The current BUFDX Sharpe Ratio is 1.70, which is higher than the BUFSX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of BUFDX and BUFSX, 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	BUFSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.15	+0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	-0.14	+0.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.44	+0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.47	+0.41

Drawdowns

BUFDX vs. BUFSX - Drawdown Comparison

The maximum BUFDX drawdown since its inception was -33.11%, smaller than the maximum BUFSX drawdown of -53.24%. Use the drawdown chart below to compare losses from any high point for BUFDX and BUFSX.

Drawdown Indicators

	BUFDX	BUFSX	Difference
Max Drawdown Largest peak-to-trough decline	-33.11%	-53.24%	+20.13%
Max Drawdown (1Y) Largest decline over 1 year	-7.66%	-14.92%	+7.26%
Max Drawdown (3Y) Largest decline over 3 years	-17.71%	-26.39%	+8.68%
Max Drawdown (5Y) Largest decline over 5 years	-17.71%	-46.57%	+28.86%
Max Drawdown (10Y) Largest decline over 10 years	-33.11%	-46.74%	+13.63%
Current Drawdown Current decline from peak	0.00%	-23.13%	+23.13%
Average Drawdown Average peak-to-trough decline	-3.14%	-12.91%	+9.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	4.05%	-2.29%

Volatility

BUFDX vs. BUFSX - Volatility Comparison

The current volatility for Buffalo Dividend Focus Fund (BUFDX) is 1.72%, while Buffalo Small Cap Fund (BUFSX) has a volatility of 5.20%. This indicates that BUFDX experiences smaller price fluctuations and is considered to be less risky than BUFSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFDX	BUFSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	5.20%	-3.48%
Volatility (6M) Calculated over the trailing 6-month period	7.63%	13.68%	-6.05%
Volatility (1Y) Calculated over the trailing 1-year period	10.31%	18.96%	-8.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.21%	24.50%	-10.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	24.57%	-8.68%

BUFDX vs. BUFSX - Expense Ratio Comparison

BUFDX has a 0.93% expense ratio, which is lower than BUFSX's 1.01% expense ratio.

Dividends

BUFDX vs. BUFSX - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
BUFSX Buffalo Small Cap Fund	0.00%	0.00%	0.00%	0.00%	0.00%	13.53%	9.01%	9.14%	31.02%	30.30%	25.19%	70.18%

Frequently Asked Questions

Can I hold both BUFDX and BUFSX in my portfolio?

BUFDX and BUFSX have a correlation of 0.78, 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 BUFSX?

BUFSX has higher volatility (5.20%) compared to BUFDX (1.72%). In terms of maximum drawdown, BUFDX dropped -33.11% vs BUFSX's -53.24%.

Which has better risk-adjusted returns?

BUFDX currently has the higher Sharpe Ratio (1.70 vs 1.15), 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.