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BUFHX vs. HYDB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

BUFHX vs. HYDB

Last updated Jun 23, 2026

BUFHX (Buffalo High Yield Fund) and HYDB (iShares High Yield Bond Factor ETF) are both High Yield Bonds funds. Over the past 5 years, BUFHX returned 4.85%/yr vs 4.60%/yr for HYDB. A 0.59 correlation means they provide meaningful diversification when combined. BUFHX charges 1.02%/yr vs 0.35%/yr for HYDB.

Performance

BUFHX vs. HYDB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Buffalo High Yield Fund (BUFHX) and iShares High Yield Bond Factor ETF (HYDB). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, BUFHX achieves a 1.99% return, which is significantly higher than HYDB's 1.58% return.

BUFHX

1D
0.00%
1M
0.67%
YTD
1.99%
6M
2.19%
1Y
4.89%
3Y*
8.27%
5Y*
4.85%
10Y*
5.39%

HYDB

1D
-0.11%
1M
0.52%
YTD
1.58%
6M
1.86%
1Y
6.61%
3Y*
9.39%
5Y*
4.60%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

BUFHX vs. HYDB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
BUFHX
Buffalo High Yield Fund		1.99%5.11%10.35%11.68%-5.53%5.52%9.26%12.33%-2.26%1.95%
HYDB
iShares High Yield Bond Factor ETF		1.58%8.10%9.11%14.02%-9.99%5.14%7.39%16.13%-3.18%3.38%

Correlation

The correlation between BUFHX and HYDB is 0.64, 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

0.64

Correlation (3Y)
Calculated over the trailing 3-year period

0.60

Correlation (5Y)
Calculated over the trailing 5-year period

0.60

Correlation (All Time)
Calculated using the full available price history since Jul 13, 2017

0.59

The correlation between BUFHX and HYDB has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Buffalo High Yield Fund

iShares High Yield Bond Factor ETF

Often compared with BUFHX:
BUFHX vs. BAICXBUFHX vs. ICMUXBUFHX vs. RGHYXBUFHX vs. PDBZXBUFHX vs. VWEHXBUFHX vs. BCAAXBUFHX vs. SWPPX
Often compared with HYDB:
HYDB vs. HYGHYDB vs. SPHYHYDB vs. VWEAXHYDB vs. HYBBHYDB vs. SHYGHYDB vs. IGEBHYDB vs. EMCB

Return for Risk

BUFHX vs. HYDB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
BUFHX
BUFHX Risk / Return Rank: 5757
Overall Rank
BUFHX Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
BUFHX Sortino Ratio Rank: 6464
Sortino Ratio Rank
BUFHX Omega Ratio Rank: 7272
Omega Ratio Rank
BUFHX Calmar Ratio Rank: 4242
Calmar Ratio Rank
BUFHX Martin Ratio Rank: 5252
Martin Ratio Rank
HYDB
HYDB Risk / Return Rank: 5454
Overall Rank
HYDB Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
HYDB Sortino Ratio Rank: 5656
Sortino Ratio Rank
HYDB Omega Ratio Rank: 5555
Omega Ratio Rank
HYDB Calmar Ratio Rank: 4949
Calmar Ratio Rank
HYDB Martin Ratio Rank: 6060
Martin Ratio Rank
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.

BUFHX vs. HYDB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Buffalo High Yield Fund (BUFHX) and iShares High Yield Bond Factor ETF (HYDB). 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.

BUFHXHYDBDifference
Sharpe ratioReturn per unit of total volatility
2.00
1.73

+0.27

Sortino ratioReturn per unit of downside risk
3.05
2.61

+0.43

Omega ratioGain probability vs. loss probability

1.43

1.33

+0.10

Calmar ratioReturn relative to maximum drawdown

2.35

2.34

+0.01

Martin ratioReturn relative to average drawdown

9.94

10.32

-0.38

BUFHX vs. HYDB - Sharpe Ratio Comparison

The current BUFHX Sharpe Ratio is 2.00, which is comparable to the HYDB Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of BUFHX and HYDB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

BUFHX vs. HYDB - Drawdown Comparison

The maximum BUFHX drawdown since its inception was -26.01%, which is greater than HYDB's maximum drawdown of -21.58%. Use the drawdown chart below to compare losses from any high point for BUFHX and HYDB.

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Drawdown Indicators

BUFHXHYDBDifference

Max Drawdown

Largest peak-to-trough decline

-26.01%

-21.58%

-4.43%

Max Drawdown (1Y)

Largest decline over 1 year

-2.13%

-2.83%

+0.70%

Max Drawdown (3Y)

Largest decline over 3 years

-3.83%

-5.58%

+1.75%

Max Drawdown (5Y)

Largest decline over 5 years

-9.98%

-14.28%

+4.30%

Max Drawdown (10Y)

Largest decline over 10 years

-18.74%

—

—

Current Drawdown

Current decline from peak

-0.09%

-0.20%

+0.11%

Average Drawdown

Average peak-to-trough decline

-2.02%

-2.38%

+0.36%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.50%

0.64%

-0.14%

Volatility

BUFHX vs. HYDB - Volatility Comparison

The current volatility for Buffalo High Yield Fund (BUFHX) is 0.60%, while iShares High Yield Bond Factor ETF (HYDB) has a volatility of 1.05%. This indicates that BUFHX experiences smaller price fluctuations and is considered to be less risky than HYDB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

BUFHXHYDBDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.60%

1.05%

-0.45%

Volatility (6M)

Calculated over the trailing 6-month period

1.97%

3.03%

-1.06%

Volatility (1Y)

Calculated over the trailing 1-year period

2.51%

3.85%

-1.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.15%

7.05%

-3.90%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.04%

7.74%

-3.70%

BUFHX vs. HYDB - Expense Ratio Comparison

BUFHX has a 1.02% expense ratio, which is higher than HYDB's 0.35% expense ratio.

Dividends

BUFHX vs. HYDB - Dividend Comparison

BUFHX's dividend yield for the trailing twelve months is around 7.08%, more than HYDB's 6.98% yield.

PositionTTM20252024202320222021202020192018201720162015
BUFHX
Buffalo High Yield Fund		7.08%6.84%8.03%6.41%8.05%7.24%4.11%4.21%5.17%4.57%3.85%5.51%
HYDB
iShares High Yield Bond Factor ETF		6.98%7.04%6.95%7.00%6.30%4.70%5.81%5.68%6.16%2.70%0.00%0.00%

Frequently Asked Questions

BUFHX and HYDB have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYDB has higher volatility (1.05%) compared to BUFHX (0.60%). In terms of maximum drawdown, BUFHX dropped -26.01% vs HYDB's -21.58%.

BUFHX currently has the higher Sharpe Ratio (2.00 vs 1.73), 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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