BUFTX vs. MMGPX
BUFTX (Buffalo Discovery Fund) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. Over the past 5 years, BUFTX returned -2.05%/yr vs -6.26%/yr for MMGPX. Their correlation of 0.80 means they have usually moved in the same direction. BUFTX charges 1.00%/yr vs 0.04%/yr for MMGPX.
Performance
BUFTX vs. MMGPX - 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 MMGPX's -0.96% 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%
MMGPX
- 1D
- 1.83%
- 1M
- -3.86%
- 6M
- 6.79%
- YTD
- -0.96%
- 1Y
- -12.68%
- 3Y*
- 20.01%
- 5Y*
- -6.26%
- 10Y*
- —
- ALL TIME*
- 14.84%
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. MMGPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BUFTX Buffalo Discovery Fund | -2.93% | -1.83% | 5.31% | 24.30% | -28.78% | 11.55% | 33.90% | 31.62% | -6.52% | 22.10% |
MMGPX Morgan Stanley Discovery Portfolio | -0.96% | 12.58% | 41.83% | 44.34% | -63.37% | -11.55% | 152.67% | 40.20% | 10.89% | 28.18% |
Correlation
The correlation between BUFTX and MMGPX is 0.73, 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. | 0.73 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.80 |
The correlation between BUFTX and MMGPX has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.
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Return for Risk
BUFTX vs. MMGPX — Risk / Return Rank
BUFTX
MMGPX
BUFTX vs. MMGPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Buffalo Discovery Fund (BUFTX) and Morgan Stanley Discovery Portfolio (MMGPX). 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 | MMGPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 0.96 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | -0.38 | -0.01 |
| Martin ratioReturn relative to average drawdown | -0.85 | -0.72 | -0.13 |
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Drawdowns
BUFTX vs. MMGPX - Drawdown Comparison
The maximum BUFTX drawdown since its inception was -60.45%, smaller than the maximum MMGPX drawdown of -75.38%. Use the drawdown chart below to compare losses from any high point for BUFTX and MMGPX.
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Drawdown Indicators
| BUFTX | MMGPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.45% | -75.38% | +14.93% |
Max Drawdown (1Y)Largest decline over 1 year | -17.96% | -27.79% | +9.83% |
Max Drawdown (3Y)Largest decline over 3 years | -22.10% | -29.27% | +7.17% |
Max Drawdown (5Y)Largest decline over 5 years | -36.36% | -72.70% | +36.34% |
Max Drawdown (10Y)Largest decline over 10 years | -36.36% | — | — |
Current DrawdownCurrent decline from peak | -13.91% | -40.82% | +26.91% |
Average DrawdownAverage peak-to-trough decline | -11.34% | -30.41% | +19.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.32% | 14.54% | -6.22% |
Volatility
BUFTX vs. MMGPX - Volatility Comparison
The current volatility for Buffalo Discovery Fund (BUFTX) is 6.19%, while Morgan Stanley Discovery Portfolio (MMGPX) has a volatility of 7.14%. This indicates that BUFTX experiences smaller price fluctuations and is considered to be less risky than MMGPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUFTX | MMGPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.19% | 7.14% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 13.71% | 21.86% | -8.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.96% | 29.03% | -12.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.32% | 39.84% | -18.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.47% | 35.11% | -14.64% |
BUFTX vs. MMGPX - Expense Ratio Comparison
BUFTX has a 1.00% expense ratio, which is higher than MMGPX's 0.04% expense ratio.
Dividends
BUFTX vs. MMGPX - Dividend Comparison
BUFTX's dividend yield for the trailing twelve months is around 21.78%, while MMGPX has not paid dividends to shareholders.
| 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% |
MMGPX Morgan Stanley Discovery Portfolio | 0.00% | 0.43% | 0.00% | 0.00% | 125.40% | 64.53% | 7.93% | 15.63% | 28.02% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BUFTX and MMGPX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMGPX has higher volatility (7.14%) compared to BUFTX (6.19%). In terms of maximum drawdown, BUFTX dropped -60.45% vs MMGPX's -75.38%.
MMGPX currently has the higher Sharpe Ratio (-0.36 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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