BUFMX vs. NEEIX
BUFMX (Buffalo Mid Cap Fund) and NEEIX (Needham Growth Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, BUFMX returned -1.13%/yr vs 10.88%/yr for NEEIX. Their correlation of 0.82 means they have usually moved in the same direction. BUFMX charges 1.02%/yr vs 1.21%/yr for NEEIX.
Performance
BUFMX vs. NEEIX - Performance Comparison
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Returns By Period
In the year-to-date period, BUFMX achieves a -3.71% return, which is significantly lower than NEEIX's 38.99% return.
BUFMX
- 1D
- 2.41%
- 1M
- -1.75%
- 6M
- 1.74%
- YTD
- -3.71%
- 1Y
- -10.07%
- 3Y*
- 2.91%
- 5Y*
- -1.13%
- 10Y*
- 7.58%
- ALL TIME*
- 7.65%
NEEIX
- 1D
- 2.27%
- 1M
- -7.20%
- 6M
- 20.42%
- YTD
- 38.99%
- 1Y
- 54.45%
- 3Y*
- 21.63%
- 5Y*
- 10.88%
- 10Y*
- —
- ALL TIME*
- 15.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BUFMX Buffalo Mid Cap Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
BUFMX vs. NEEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BUFMX Buffalo Mid Cap Fund | -3.71% | -1.68% | 6.73% | 26.92% | -27.89% | 14.39% | 34.24% | 37.96% | -7.29% | 13.59% |
NEEIX Needham Growth Fund Institutional Class | 38.99% | 9.32% | 19.26% | 27.30% | -33.26% | 28.13% | 42.39% | 43.15% | -10.13% | 8.47% |
Correlation
The correlation between BUFMX and NEEIX is 0.72, 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. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.82 |
The correlation between BUFMX and NEEIX has been stable across timeframes, ranging from 0.72 to 0.82 - a consistent structural relationship.
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Return for Risk
BUFMX vs. NEEIX — Risk / Return Rank
BUFMX
NEEIX
BUFMX vs. NEEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Buffalo Mid Cap Fund (BUFMX) and Needham Growth Fund Institutional Class (NEEIX). 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.
| BUFMX | NEEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.30 | ||
| Sortino ratioReturn per unit of downside risk | -2.92 | ||
| Omega ratioGain probability vs. loss probability | 0.92 | 1.29 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 2.47 | -2.99 |
| Martin ratioReturn relative to average drawdown | -1.03 | 9.95 | -10.98 |
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Drawdowns
BUFMX vs. NEEIX - Drawdown Comparison
The maximum BUFMX drawdown since its inception was -58.44%, which is greater than NEEIX's maximum drawdown of -43.11%. Use the drawdown chart below to compare losses from any high point for BUFMX and NEEIX.
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Drawdown Indicators
| BUFMX | NEEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.44% | -43.11% | -15.33% |
Max Drawdown (1Y)Largest decline over 1 year | -17.71% | -23.12% | +5.41% |
Max Drawdown (3Y)Largest decline over 3 years | -20.29% | -36.13% | +15.84% |
Max Drawdown (5Y)Largest decline over 5 years | -35.58% | -43.11% | +7.53% |
Max Drawdown (10Y)Largest decline over 10 years | -35.58% | — | — |
Current DrawdownCurrent decline from peak | -11.71% | -16.09% | +4.38% |
Average DrawdownAverage peak-to-trough decline | -9.41% | -10.83% | +1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.91% | 5.72% | +3.19% |
Volatility
BUFMX vs. NEEIX - Volatility Comparison
The current volatility for Buffalo Mid Cap Fund (BUFMX) is 6.15%, while Needham Growth Fund Institutional Class (NEEIX) has a volatility of 11.80%. This indicates that BUFMX experiences smaller price fluctuations and is considered to be less risky than NEEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUFMX | NEEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.15% | 11.80% | -5.65% |
Volatility (6M)Calculated over the trailing 6-month period | 14.11% | 26.81% | -12.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.02% | 32.47% | -15.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.43% | 29.45% | -9.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.80% | 26.32% | -6.52% |
BUFMX vs. NEEIX - Expense Ratio Comparison
BUFMX has a 1.02% expense ratio, which is lower than NEEIX's 1.21% expense ratio.
Dividends
BUFMX vs. NEEIX - Dividend Comparison
BUFMX's dividend yield for the trailing twelve months is around 10.71%, more than NEEIX's 5.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFMX Buffalo Mid Cap Fund | 10.71% | 10.31% | 6.93% | 5.21% | 5.46% | 11.45% | 6.91% | 8.20% | 4.47% | 25.22% | 8.49% | 13.06% |
NEEIX Needham Growth Fund Institutional Class | 5.15% | 7.16% | 7.48% | 0.00% | 1.72% | 6.70% | 5.58% | 11.09% | 17.58% | 9.64% | 0.00% | 0.00% |
Frequently Asked Questions
BUFMX and NEEIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NEEIX has higher volatility (11.80%) compared to BUFMX (6.15%). In terms of maximum drawdown, BUFMX dropped -58.44% vs NEEIX's -43.11%.
NEEIX currently has the higher Sharpe Ratio (1.76 vs -0.54), 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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