BUFHX vs. FAHCX

Last updated Aug 5, 2026

BUFHX (Buffalo High Yield Fund) and FAHCX (Fidelity Advisor High Income Advantage Fund Class I) are both High Yield Bonds funds. Over the past 10 years, BUFHX returned 5.18%/yr vs 7.36%/yr for FAHCX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. BUFHX charges 1.02%/yr vs 0.74%/yr for FAHCX.

Performance

BUFHX vs. FAHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Buffalo High Yield Fund (BUFHX) and Fidelity Advisor High Income Advantage Fund Class I (FAHCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFHX achieves a 2.28% return, which is significantly lower than FAHCX's 6.09% return. Over the past 10 years, BUFHX has underperformed FAHCX with an annualized return of 5.18%, while FAHCX has yielded a comparatively higher 7.36% annualized 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%

FAHCX

• 1D: 0.66%
• 1M: -0.33%
• 6M: 4.50%
• YTD: 6.09%
• 1Y: 10.82%
• 3Y*: 11.07%
• 5Y*: 5.91%
• 10Y*: 7.36%
• ALL TIME*: 7.30%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BUFHX Buffalo High Yield Fund	$0.00	$0.00	$0.00
FAHCX Fidelity Advisor High Income Advantage Fund Class I	$0.00	$0.00	$0.00

BUFHX vs. FAHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BUFHX Buffalo High Yield Fund	2.28%	5.11%	10.35%	11.68%	-5.53%	5.52%	9.26%	12.33%	-2.26%	5.98%
FAHCX Fidelity Advisor High Income Advantage Fund Class I	6.09%	12.06%	9.50%	12.15%	-11.15%	10.96%	8.94%	17.81%	-5.25%	11.74%

Correlation

The correlation between BUFHX and FAHCX is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (10Y) Provides a long-term view across more market conditions.	0.72
Correlation (All Time) Calculated using the full available price history since May 19, 1995	0.61

The correlation between BUFHX and FAHCX shifts across timeframes, from 0.51 (1 year) to 0.72 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BUFHX vs. FAHCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BUFHX

BUFHX Risk / Return Rank: 52
BUFHX Sharpe Ratio Rank: 50
BUFHX Sortino Ratio Rank: 57
BUFHX Omega Ratio Rank: 62
BUFHX Calmar Ratio Rank: 40
BUFHX Martin Ratio Rank: 50

FAHCX

FAHCX Risk / Return Rank: 75
FAHCX Sharpe Ratio Rank: 70
FAHCX Sortino Ratio Rank: 69
FAHCX Omega Ratio Rank: 67
FAHCX Calmar Ratio Rank: 84
FAHCX Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BUFHX vs. FAHCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Buffalo High Yield Fund (BUFHX) and Fidelity Advisor High Income Advantage Fund Class I (FAHCX). 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	FAHCX	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.78	-0.27
Sortino ratio: Return per unit of downside risk	2.28	2.53	-0.25
Omega ratio: Gain probability vs. loss probability	1.31	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	1.79	3.05	-1.27
Martin ratio: Return relative to average drawdown	7.47	11.58	-4.11

BUFHX vs. FAHCX - Sharpe Ratio Comparison

The current BUFHX Sharpe Ratio is 1.51, which is comparable to the FAHCX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of BUFHX and FAHCX, 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

BUFHX vs. FAHCX - Drawdown Comparison

The maximum BUFHX drawdown since its inception was -26.01%, smaller than the maximum FAHCX drawdown of -48.10%. Use the drawdown chart below to compare losses from any high point for BUFHX and FAHCX.

Drawdown Indicators

	BUFHX	FAHCX	Difference
Max Drawdown Largest peak-to-trough decline	-26.01%	-48.10%	+22.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.13%	-3.72%	+1.59%
Max Drawdown (3Y) Largest decline over 3 years	-3.83%	-6.98%	+3.15%
Max Drawdown (5Y) Largest decline over 5 years	-9.98%	-15.16%	+5.18%
Max Drawdown (10Y) Largest decline over 10 years	-18.74%	-28.49%	+9.75%
Current Drawdown Current decline from peak	-0.11%	-1.71%	+1.60%
Average Drawdown Average peak-to-trough decline	-2.02%	-4.60%	+2.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	0.98%	-0.47%

Volatility

BUFHX vs. FAHCX - Volatility Comparison

The current volatility for Buffalo High Yield Fund (BUFHX) is 0.60%, while Fidelity Advisor High Income Advantage Fund Class I (FAHCX) has a volatility of 2.14%. This indicates that BUFHX experiences smaller price fluctuations and is considered to be less risky than FAHCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFHX	FAHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	2.14%	-1.54%
Volatility (6M) Calculated over the trailing 6-month period	2.01%	5.38%	-3.37%
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	6.40%	-3.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.14%	6.55%	-3.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.03%	7.64%	-3.61%

BUFHX vs. FAHCX - Expense Ratio Comparison

BUFHX has a 1.02% expense ratio, which is higher than FAHCX's 0.74% expense ratio.

Dividends

BUFHX vs. FAHCX - Dividend Comparison

BUFHX's dividend yield for the trailing twelve months is around 7.06%, more than FAHCX's 4.09% 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%
FAHCX Fidelity Advisor High Income Advantage Fund Class I	4.09%	4.73%	4.18%	4.70%	7.35%	4.94%	3.70%	4.51%	6.09%	4.95%	5.53%	4.42%

Frequently Asked Questions

Can I hold both BUFHX and FAHCX in my portfolio?

BUFHX and FAHCX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFHX or FAHCX?

FAHCX has higher volatility (2.14%) compared to BUFHX (0.60%). In terms of maximum drawdown, BUFHX dropped -26.01% vs FAHCX's -48.10%.

Which has better risk-adjusted returns?

FAHCX currently has the higher Sharpe Ratio (1.78 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.