BUFTX vs. VO
BUFTX (Buffalo Discovery Fund) and VO (Vanguard Mid-Cap ETF) are both funds - BUFTX is a Mid Cap Growth Equities fund managed by Buffalo, while VO is a Mid Cap Blend Equities fund tracking the CRSP US Mid Cap Index. Over the past 10 years, BUFTX returned 6.99%/yr vs 11.50%/yr for VO. Their correlation of 0.90 means they have usually moved in the same direction. BUFTX charges 1.00%/yr vs 0.03%/yr for VO.
Performance
BUFTX vs. VO - Performance Comparison
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Returns By Period
In the year-to-date period, BUFTX achieves a -5.48% return, which is significantly lower than VO's 12.35% return. Over the past 10 years, BUFTX has underperformed VO with an annualized return of 6.99%, while VO has yielded a comparatively higher 11.50% annualized return.
BUFTX
- 1D
- 2.96%
- 1M
- -3.48%
- 6M
- -4.52%
- YTD
- -5.48%
- 1Y
- -9.52%
- 3Y*
- 1.06%
- 5Y*
- -2.66%
- 10Y*
- 6.99%
- ALL TIME*
- 7.97%
VO
- 1D
- -0.05%
- 1M
- 0.55%
- 6M
- 10.12%
- YTD
- 12.35%
- 1Y
- 16.51%
- 3Y*
- 14.32%
- 5Y*
- 7.77%
- 10Y*
- 11.50%
- ALL TIME*
- 10.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $194.51M | $293.72M | $235.90M |
BUFTX vs. VO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BUFTX Buffalo Discovery Fund | -5.48% | -1.83% | 5.31% | 24.30% | -28.78% | 11.55% | 33.90% | 31.62% | -6.52% | 25.43% |
VO Vanguard Mid-Cap ETF | 12.35% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 19.28% |
Correlation
The correlation between BUFTX and VO is 0.86, 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. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004 | 0.90 |
The correlation between BUFTX and VO has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
BUFTX vs. VO — Risk / Return Rank
BUFTX
VO
BUFTX vs. VO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Buffalo Discovery Fund (BUFTX) and Vanguard Mid-Cap ETF (VO). 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 | VO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.90 | ||
| Sortino ratioReturn per unit of downside risk | -2.67 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.21 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.67 | 1.83 | -2.49 |
| Martin ratioReturn relative to average drawdown | -1.46 | 6.99 | -8.45 |
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Drawdowns
BUFTX vs. VO - Drawdown Comparison
The maximum BUFTX drawdown since its inception was -60.45%, roughly equal to the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for BUFTX and VO.
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Drawdown Indicators
| BUFTX | VO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.45% | -58.87% | -1.58% |
Max Drawdown (1Y)Largest decline over 1 year | -18.16% | -8.17% | -9.99% |
Max Drawdown (3Y)Largest decline over 3 years | -22.10% | -19.02% | -3.08% |
Max Drawdown (5Y)Largest decline over 5 years | -36.36% | -27.57% | -8.79% |
Max Drawdown (10Y)Largest decline over 10 years | -36.36% | -39.37% | +3.01% |
Current DrawdownCurrent decline from peak | -16.18% | -0.49% | -15.69% |
Average DrawdownAverage peak-to-trough decline | -11.34% | -7.81% | -3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.11% | 2.13% | +6.98% |
Volatility
BUFTX vs. VO - Volatility Comparison
Buffalo Discovery Fund (BUFTX) has a higher volatility of 5.67% compared to Vanguard Mid-Cap ETF (VO) at 2.09%. This indicates that BUFTX's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BUFTX | VO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.67% | 2.09% | +3.58% |
Volatility (6M)Calculated over the trailing 6-month period | 13.61% | 9.44% | +4.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.87% | 12.61% | +4.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.30% | 17.59% | +3.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.45% | 18.86% | +1.59% |
BUFTX vs. VO - Expense Ratio Comparison
BUFTX has a 1.00% expense ratio, which is higher than VO's 0.03% expense ratio.
Dividends
BUFTX vs. VO - Dividend Comparison
BUFTX's dividend yield for the trailing twelve months is around 22.37%, more than VO's 1.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BUFTX Buffalo Discovery Fund | 22.37% | 21.15% | 10.00% | 0.00% | 7.08% | 15.11% | 7.98% | 14.81% | 7.01% | 4.64% | 0.00% | 7.56% |
VO Vanguard Mid-Cap ETF | 1.32% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Frequently Asked Questions
BUFTX and VO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BUFTX has higher volatility (5.67%) compared to VO (2.09%). In terms of maximum drawdown, BUFTX dropped -60.45% vs VO's -58.87%.
VO currently has the higher Sharpe Ratio (1.18 vs -0.72), 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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