BUFHX vs. CCLFX
BUFHX (Buffalo High Yield Fund) and CCLFX (Cliffwater Corporate Lending Fund Class I Shares) are both mutual funds - BUFHX is a High Yield Bonds fund managed by Buffalo, while CCLFX is a Bank Loan fund managed by Cliffwater. Over the past 5 years, BUFHX returned 4.85%/yr vs 8.70%/yr for CCLFX. Their 0.20 correlation means their historical movements had little consistent relationship. BUFHX charges 1.02%/yr vs 3.27%/yr for CCLFX.
Performance
BUFHX vs. CCLFX - Performance Comparison
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Returns By Period
In the year-to-date period, BUFHX achieves a 2.28% return, which is significantly lower than CCLFX's 3.38% return.
BUFHX
- 1D
- 0.29%
- 1M
- 0.08%
- 6M
- 1.35%
- YTD
- 2.28%
- 1Y
- 3.59%
- 3Y*
- 7.81%
- 5Y*
- 4.85%
- 10Y*
- 5.18%
- ALL TIME*
- 6.52%
CCLFX
- 1D
- 0.10%
- 1M
- 0.59%
- 6M
- 2.99%
- YTD
- 3.38%
- 1Y
- 6.76%
- 3Y*
- 10.13%
- 5Y*
- 8.70%
- 10Y*
- —
- ALL TIME*
- 8.48%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BUFHX vs. CCLFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BUFHX Buffalo High Yield Fund | 2.28% | 5.11% | 10.35% | 11.68% | -5.53% | 5.52% | 9.26% | 5.22% |
CCLFX Cliffwater Corporate Lending Fund Class I Shares | 3.38% | 8.93% | 12.62% | 12.66% | 2.32% | 10.38% | 8.73% | 2.12% |
Correlation
The correlation between BUFHX and CCLFX is 0.16, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2019 | 0.20 |
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Return for Risk
BUFHX vs. CCLFX — Risk / Return Rank
BUFHX
CCLFX
BUFHX vs. CCLFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Buffalo High Yield Fund (BUFHX) and Cliffwater Corporate Lending Fund Class I Shares (CCLFX). 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.
| BUFHX | CCLFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.69 | ||
| Sortino ratioReturn per unit of downside risk | -16.45 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 6.80 | -5.49 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 36.49 | -34.70 |
| Martin ratioReturn relative to average drawdown | 7.47 | 200.40 | -192.92 |
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Drawdowns
BUFHX vs. CCLFX - Drawdown Comparison
The maximum BUFHX drawdown since its inception was -26.01%, which is greater than CCLFX's maximum drawdown of -3.91%. Use the drawdown chart below to compare losses from any high point for BUFHX and CCLFX.
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Drawdown Indicators
| BUFHX | CCLFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.01% | -3.91% | -22.10% |
Max Drawdown (1Y)Largest decline over 1 year | -2.13% | -0.19% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -3.83% | -0.46% | -3.37% |
Max Drawdown (5Y)Largest decline over 5 years | -9.98% | -2.25% | -7.73% |
Max Drawdown (10Y)Largest decline over 10 years | -18.74% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | 0.00% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -2.02% | -0.16% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.51% | 0.03% | +0.48% |
Volatility
BUFHX vs. CCLFX - Volatility Comparison
Buffalo High Yield Fund (BUFHX) has a higher volatility of 0.60% compared to Cliffwater Corporate Lending Fund Class I Shares (CCLFX) at 0.21%. This indicates that BUFHX's price experiences larger fluctuations and is considered to be riskier than CCLFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUFHX | CCLFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 0.21% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 2.01% | 0.63% | +1.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.53% | 0.85% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.14% | 1.73% | +1.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.03% | 1.86% | +2.17% |
BUFHX vs. CCLFX - Expense Ratio Comparison
BUFHX has a 1.02% expense ratio, which is lower than CCLFX's 3.27% expense ratio.
Dividends
BUFHX vs. CCLFX - Dividend Comparison
BUFHX's dividend yield for the trailing twelve months is around 7.06%, less than CCLFX's 10.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFHX Buffalo High Yield Fund | 7.06% | 6.84% | 8.03% | 6.41% | 8.05% | 7.24% | 4.11% | 4.21% | 5.17% | 4.57% | 3.85% | 5.51% |
CCLFX Cliffwater Corporate Lending Fund Class I Shares | 10.07% | 10.47% | 11.27% | 10.96% | 3.96% | 7.03% | 6.90% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BUFHX and CCLFX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFHX has higher volatility (0.60%) compared to CCLFX (0.21%). In terms of maximum drawdown, BUFHX dropped -26.01% vs CCLFX's -3.91%.
CCLFX currently has the higher Sharpe Ratio (8.19 vs 1.51), 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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