BUFSX vs. ETMGX
BUFSX (Buffalo Small Cap Fund) and ETMGX (Eaton Vance Tax-Managed Small-Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, BUFSX returned 10.80%/yr vs 8.11%/yr for ETMGX. Their correlation of 0.85 suggests significant overlap in exposure. BUFSX charges 1.01%/yr vs 1.11%/yr for ETMGX.
Performance
BUFSX vs. ETMGX - Performance Comparison
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Returns By Period
In the year-to-date period, BUFSX achieves a 16.35% return, which is significantly higher than ETMGX's 8.08% return. Over the past 10 years, BUFSX has outperformed ETMGX with an annualized return of 10.80%, while ETMGX has yielded a comparatively lower 8.11% annualized return.
BUFSX
- 1D
- -0.63%
- 1M
- 2.31%
- 6M
- 9.15%
- YTD
- 16.35%
- 1Y
- 18.59%
- 3Y*
- 5.87%
- 5Y*
- -3.59%
- 10Y*
- 10.80%
ETMGX
- 1D
- 0.84%
- 1M
- 3.08%
- 6M
- 3.19%
- YTD
- 8.08%
- 1Y
- 1.84%
- 3Y*
- 4.56%
- 5Y*
- 2.28%
- 10Y*
- 8.11%
BUFSX vs. ETMGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BUFSX Buffalo Small Cap Fund | 16.35% | -0.13% | 5.38% | 5.45% | -30.01% | 4.44% | 66.49% | 40.97% | -5.73% | 26.96% |
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 8.08% | -6.63% | 11.43% | 11.06% | -16.53% | 20.91% | 12.33% | 27.32% | -5.86% | 15.26% |
Correlation
The correlation between BUFSX and ETMGX is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.85 |
The correlation between BUFSX and ETMGX has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.
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Return for Risk
BUFSX vs. ETMGX — Risk / Return Rank
BUFSX
ETMGX
BUFSX vs. ETMGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Buffalo Small Cap Fund (BUFSX) and Eaton Vance Tax-Managed Small-Cap Fund (ETMGX). 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.
| BUFSX | ETMGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.80 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.02 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.14 | 0.07 | +1.07 |
| Martin ratioReturn relative to average drawdown | 4.17 | 0.16 | +4.01 |
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Drawdowns
BUFSX vs. ETMGX - Drawdown Comparison
The maximum BUFSX drawdown since its inception was -53.24%, which is greater than ETMGX's maximum drawdown of -37.02%. Use the drawdown chart below to compare losses from any high point for BUFSX and ETMGX.
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Drawdown Indicators
| BUFSX | ETMGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.24% | -37.02% | -16.22% |
Max Drawdown (1Y)Largest decline over 1 year | -14.92% | -13.14% | -1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -26.39% | -22.28% | -4.11% |
Max Drawdown (5Y)Largest decline over 5 years | -46.57% | -25.14% | -21.43% |
Max Drawdown (10Y)Largest decline over 10 years | -46.74% | -37.02% | -9.72% |
Current DrawdownCurrent decline from peak | -20.75% | -7.36% | -13.39% |
Average DrawdownAverage peak-to-trough decline | -12.94% | -6.60% | -6.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 5.97% | -1.88% |
Volatility
BUFSX vs. ETMGX - Volatility Comparison
Buffalo Small Cap Fund (BUFSX) has a higher volatility of 6.93% compared to Eaton Vance Tax-Managed Small-Cap Fund (ETMGX) at 4.96%. This indicates that BUFSX's price experiences larger fluctuations and is considered to be riskier than ETMGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUFSX | ETMGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.93% | 4.96% | +1.97% |
Volatility (6M)Calculated over the trailing 6-month period | 14.77% | 11.67% | +3.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.91% | 16.36% | +3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.63% | 18.78% | +5.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.55% | 19.87% | +4.68% |
BUFSX vs. ETMGX - Expense Ratio Comparison
BUFSX has a 1.01% expense ratio, which is lower than ETMGX's 1.11% expense ratio.
Dividends
BUFSX vs. ETMGX - Dividend Comparison
BUFSX has not paid dividends to shareholders, while ETMGX's dividend yield for the trailing twelve months is around 6.52%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFSX Buffalo Small Cap Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 13.53% | 9.01% | 9.14% | 31.02% | 30.30% | 25.19% | 70.18% |
ETMGX Eaton Vance Tax-Managed Small-Cap Fund | 6.52% | 7.04% | 2.85% | 1.36% | 2.80% | 8.28% | 0.09% | 6.50% | 7.75% | 11.87% | 6.00% | 5.50% |
Frequently Asked Questions
BUFSX and ETMGX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFSX has higher volatility (6.93%) compared to ETMGX (4.96%). In terms of maximum drawdown, BUFSX dropped -53.24% vs ETMGX's -37.02%.
BUFSX currently has the higher Sharpe Ratio (0.86 vs 0.06), 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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