BUFTX vs. FZROX
BUFTX (Buffalo Discovery Fund) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - BUFTX is a Mid Cap Growth Equities fund managed by Buffalo, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, BUFTX returned -2.05%/yr vs 12.28%/yr for FZROX. Their correlation of 0.89 means they have usually moved in the same direction. BUFTX charges 1.00%/yr vs 0.00%/yr for FZROX.
Performance
BUFTX vs. FZROX - Performance Comparison
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Returns By Period
In the year-to-date period, BUFTX achieves a -2.93% return, which is significantly lower than FZROX's 12.27% return.
BUFTX
- 1D
- 2.42%
- 1M
- -0.87%
- 6M
- 1.00%
- YTD
- -2.93%
- 1Y
- -8.70%
- 3Y*
- 2.96%
- 5Y*
- -2.05%
- 10Y*
- 7.17%
- ALL TIME*
- 8.08%
FZROX
- 1D
- 1.53%
- 1M
- 1.38%
- 6M
- 10.81%
- YTD
- 12.27%
- 1Y
- 21.86%
- 3Y*
- 20.54%
- 5Y*
- 12.28%
- 10Y*
- —
- ALL TIME*
- 14.26%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BUFTX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BUFTX Buffalo Discovery Fund | -2.93% | -1.83% | 5.31% | 24.30% | -28.78% | 11.55% | 33.90% | 31.62% | -12.95% |
FZROX Fidelity ZERO Total Market Index Fund | 12.27% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Correlation
The correlation between BUFTX and FZROX is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | 0.89 |
The correlation between BUFTX and FZROX has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.
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Return for Risk
BUFTX vs. FZROX — Risk / Return Rank
BUFTX
FZROX
BUFTX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Buffalo Discovery Fund (BUFTX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.
| BUFTX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.32 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.69 | -3.08 |
| Martin ratioReturn relative to average drawdown | -0.85 | 11.61 | -12.46 |
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Drawdowns
BUFTX vs. FZROX - Drawdown Comparison
The maximum BUFTX drawdown since its inception was -60.45%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for BUFTX and FZROX.
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Drawdown Indicators
| BUFTX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.45% | -34.96% | -25.49% |
Max Drawdown (1Y)Largest decline over 1 year | -17.96% | -8.89% | -9.07% |
Max Drawdown (3Y)Largest decline over 3 years | -22.10% | -19.38% | -2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -36.36% | -25.12% | -11.24% |
Max Drawdown (10Y)Largest decline over 10 years | -36.36% | — | — |
Current DrawdownCurrent decline from peak | -13.91% | 0.00% | -13.91% |
Average DrawdownAverage peak-to-trough decline | -11.34% | -5.43% | -5.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.32% | 2.05% | +6.27% |
Volatility
BUFTX vs. FZROX - Volatility Comparison
Buffalo Discovery Fund (BUFTX) has a higher volatility of 6.19% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 3.80%. This indicates that BUFTX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUFTX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.19% | 3.80% | +2.39% |
Volatility (6M)Calculated over the trailing 6-month period | 13.71% | 10.43% | +3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.96% | 13.18% | +3.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.32% | 17.56% | +3.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.47% | 20.03% | +0.44% |
BUFTX vs. FZROX - Expense Ratio Comparison
BUFTX has a 1.00% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Dividends
BUFTX vs. FZROX - Dividend Comparison
BUFTX's dividend yield for the trailing twelve months is around 21.78%, more than FZROX's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFTX Buffalo Discovery Fund | 21.78% | 21.15% | 10.00% | 0.00% | 7.08% | 15.11% | 7.98% | 14.81% | 7.01% | 4.64% | 0.00% | 7.56% |
FZROX Fidelity ZERO Total Market Index Fund | 0.91% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BUFTX and FZROX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFTX has higher volatility (6.19%) compared to FZROX (3.80%). In terms of maximum drawdown, BUFTX dropped -60.45% vs FZROX's -34.96%.
FZROX currently has the higher Sharpe Ratio (1.81 vs -0.42), 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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