BUFIX vs. FZABX

Last updated Jun 23, 2026

BUFIX (Buffalo International Fund) and FZABX (Fidelity Advisor Diversified International Fund Class Z) are both Foreign Large Cap Equities funds. Over the past 10 years, BUFIX returned 10.67%/yr vs 10.10%/yr for FZABX. Their correlation of 0.94 suggests significant overlap in exposure. BUFIX charges 1.03%/yr vs 0.76%/yr for FZABX.

Performance

BUFIX vs. FZABX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Buffalo International Fund (BUFIX) and Fidelity Advisor Diversified International Fund Class Z (FZABX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFIX achieves a 20.71% return, which is significantly higher than FZABX's 14.65% return. Over the past 10 years, BUFIX has outperformed FZABX with an annualized return of 10.67%, while FZABX has yielded a comparatively lower 10.10% annualized return.

BUFIX

• 1D: 2.85%
• 1M: 6.85%
• YTD: 20.71%
• 6M: 21.78%
• 1Y: 25.44%
• 3Y*: 11.81%
• 5Y*: 6.67%
• 10Y*: 10.67%

FZABX

• 1D: 1.60%
• 1M: 4.88%
• YTD: 14.65%
• 6M: 15.22%
• 1Y: 27.71%
• 3Y*: 17.02%
• 5Y*: 8.45%
• 10Y*: 10.10%

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

BUFIX vs. FZABX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BUFIX Buffalo International Fund	20.71%	17.09%	-1.90%	18.33%	-21.80%	18.20%	19.10%	28.01%	-8.85%	29.33%
FZABX Fidelity Advisor Diversified International Fund Class Z	14.65%	27.71%	6.59%	17.56%	-23.58%	13.11%	19.79%	29.99%	-15.23%	25.59%

Correlation

The correlation between BUFIX and FZABX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.94

The correlation between BUFIX and FZABX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

BUFIX vs. FZABX — Risk / Return Rank

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

BUFIX

BUFIX Risk / Return Rank: 27
BUFIX Sharpe Ratio Rank: 24
BUFIX Sortino Ratio Rank: 23
BUFIX Omega Ratio Rank: 27
BUFIX Calmar Ratio Rank: 30
BUFIX Martin Ratio Rank: 31

FZABX

FZABX Risk / Return Rank: 34
FZABX Sharpe Ratio Rank: 32
FZABX Sortino Ratio Rank: 31
FZABX Omega Ratio Rank: 31
FZABX Calmar Ratio Rank: 36
FZABX Martin Ratio Rank: 41

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.

BUFIX vs. FZABX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Buffalo International Fund (BUFIX) and Fidelity Advisor Diversified International Fund Class Z (FZABX). 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.

	BUFIX	FZABX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.51	-0.19
Sortino ratio: Return per unit of downside risk	1.86	2.16	-0.30
Omega ratio: Gain probability vs. loss probability	1.25	1.27	-0.02
Calmar ratio: Return relative to maximum drawdown	1.93	2.14	-0.21
Martin ratio: Return relative to average drawdown	6.69	8.34	-1.65

BUFIX vs. FZABX - Sharpe Ratio Comparison

The current BUFIX Sharpe Ratio is 1.32, which is comparable to the FZABX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of BUFIX and FZABX, 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

BUFIX vs. FZABX - Drawdown Comparison

The maximum BUFIX drawdown since its inception was -55.09%, which is greater than FZABX's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for BUFIX and FZABX.

Drawdown Indicators

	BUFIX	FZABX	Difference
Max Drawdown Largest peak-to-trough decline	-55.09%	-35.21%	-19.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.85%	-12.55%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-15.52%	-14.65%	-0.87%
Max Drawdown (5Y) Largest decline over 5 years	-34.93%	-35.21%	+0.28%
Max Drawdown (10Y) Largest decline over 10 years	-34.93%	-35.21%	+0.28%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.15%	-7.55%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.71%	3.22%	+0.49%

Volatility

BUFIX vs. FZABX - Volatility Comparison

Buffalo International Fund (BUFIX) has a higher volatility of 9.02% compared to Fidelity Advisor Diversified International Fund Class Z (FZABX) at 6.86%. This indicates that BUFIX's price experiences larger fluctuations and is considered to be riskier than FZABX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFIX	FZABX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.02%	6.86%	+2.16%
Volatility (6M) Calculated over the trailing 6-month period	16.77%	15.44%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	18.81%	17.86%	+0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.91%	17.33%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	17.15%	+0.52%

BUFIX vs. FZABX - Expense Ratio Comparison

BUFIX has a 1.03% expense ratio, which is higher than FZABX's 0.76% expense ratio.

Dividends

BUFIX vs. FZABX - Dividend Comparison

BUFIX's dividend yield for the trailing twelve months is around 0.70%, less than FZABX's 12.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFIX Buffalo International Fund	0.70%	0.85%	0.84%	0.59%	1.85%	1.20%	0.28%	0.57%	2.42%	0.36%	0.00%	0.51%
FZABX Fidelity Advisor Diversified International Fund Class Z	12.26%	14.06%	6.53%	4.41%	2.40%	10.92%	0.15%	1.64%	5.22%	0.29%	1.70%	1.08%

Frequently Asked Questions

Can I hold both BUFIX and FZABX in my portfolio?

With a correlation of 0.91, BUFIX and FZABX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BUFIX or FZABX?

BUFIX has higher volatility (9.02%) compared to FZABX (6.86%). In terms of maximum drawdown, BUFIX dropped -55.09% vs FZABX's -35.21%.

Which has better risk-adjusted returns?

FZABX currently has the higher Sharpe Ratio (1.51 vs 1.32), 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.