BUFGX vs. BUFSX

Last updated Jun 4, 2026

BUFGX (Buffalo Growth Fund) and BUFSX (Buffalo Small Cap Fund) are both mutual funds - BUFGX is a Large Cap Growth Equities fund managed by Buffalo, while BUFSX is a Small Cap Growth Equities fund managed by Buffalo. Over the past 10 years, BUFGX returned 13.57%/yr vs 10.83%/yr for BUFSX. Their correlation of 0.83 suggests significant overlap in exposure. BUFGX charges 0.92%/yr vs 1.01%/yr for BUFSX.

Performance

BUFGX vs. BUFSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Buffalo Growth Fund (BUFGX) 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, BUFGX achieves a 2.54% return, which is significantly lower than BUFSX's 12.85% return. Over the past 10 years, BUFGX has outperformed BUFSX with an annualized return of 13.57%, while BUFSX has yielded a comparatively lower 10.83% annualized return.

BUFGX

• 1D: -0.49%
• 1M: 4.21%
• YTD: 2.54%
• 6M: 2.31%
• 1Y: 17.72%
• 3Y*: 18.06%
• 5Y*: 10.51%
• 10Y*: 13.57%

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)

BUFGX vs. BUFSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BUFGX Buffalo Growth Fund	2.54%	13.95%	25.13%	42.67%	-31.19%	21.52%	28.29%	31.89%	0.69%	22.76%
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 BUFGX and BUFSX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Apr 15, 1998	0.83

Over the past year, the correlation between BUFGX and BUFSX has dropped to 0.61 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

Return for Risk

BUFGX vs. BUFSX — Risk / Return Rank

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

BUFGX

BUFGX Risk / Return Rank: 15
BUFGX Sharpe Ratio Rank: 18
BUFGX Sortino Ratio Rank: 16
BUFGX Omega Ratio Rank: 18
BUFGX Calmar Ratio Rank: 11
BUFGX Martin Ratio Rank: 12

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.

BUFGX vs. BUFSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Buffalo Growth Fund (BUFGX) 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.

	BUFGX	BUFSX	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.15	+0.07
Sortino ratio: Return per unit of downside risk	1.70	1.73	-0.03
Omega ratio: Gain probability vs. loss probability	1.22	1.20	+0.02
Calmar ratio: Return relative to maximum drawdown	1.04	1.46	-0.42
Martin ratio: Return relative to average drawdown	3.48	5.37	-1.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFGX vs. BUFSX - Sharpe Ratio Comparison

The current BUFGX Sharpe Ratio is 1.22, which is comparable to the BUFSX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of BUFGX 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

	BUFGX	BUFSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.15	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	-0.14	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.44	+0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.47	+0.07

Drawdowns

BUFGX vs. BUFSX - Drawdown Comparison

The maximum BUFGX drawdown since its inception was -50.17%, smaller than the maximum BUFSX drawdown of -53.24%. Use the drawdown chart below to compare losses from any high point for BUFGX and BUFSX.

Drawdown Indicators

	BUFGX	BUFSX	Difference
Max Drawdown Largest peak-to-trough decline	-50.17%	-53.24%	+3.07%
Max Drawdown (1Y) Largest decline over 1 year	-17.63%	-14.92%	-2.71%
Max Drawdown (3Y) Largest decline over 3 years	-21.93%	-26.39%	+4.46%
Max Drawdown (5Y) Largest decline over 5 years	-35.68%	-46.57%	+10.89%
Max Drawdown (10Y) Largest decline over 10 years	-35.68%	-46.74%	+11.06%
Current Drawdown Current decline from peak	-0.49%	-23.13%	+22.64%
Average Drawdown Average peak-to-trough decline	-8.97%	-12.91%	+3.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.27%	4.05%	+1.22%

Volatility

BUFGX vs. BUFSX - Volatility Comparison

The current volatility for Buffalo Growth Fund (BUFGX) is 3.15%, while Buffalo Small Cap Fund (BUFSX) has a volatility of 5.20%. This indicates that BUFGX 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

	BUFGX	BUFSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.15%	5.20%	-2.05%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	13.68%	-2.05%
Volatility (1Y) Calculated over the trailing 1-year period	15.06%	18.96%	-3.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.37%	24.50%	-3.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.71%	24.57%	-3.86%

BUFGX vs. BUFSX - Expense Ratio Comparison

BUFGX has a 0.92% expense ratio, which is lower than BUFSX's 1.01% expense ratio.

Dividends

BUFGX vs. BUFSX - Dividend Comparison

BUFGX's dividend yield for the trailing twelve months is around 5.97%, while BUFSX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFGX Buffalo Growth Fund	5.97%	6.12%	8.55%	5.55%	4.77%	9.90%	4.97%	13.60%	34.64%	20.49%	0.00%	18.46%
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 BUFGX and BUFSX in my portfolio?

BUFGX and BUFSX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFGX or BUFSX?

BUFSX has higher volatility (5.20%) compared to BUFGX (3.15%). In terms of maximum drawdown, BUFGX dropped -50.17% vs BUFSX's -53.24%.

Which has better risk-adjusted returns?

BUFGX currently has the higher Sharpe Ratio (1.22 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.