FDG vs. BUFSX

Last updated Jun 23, 2026

FDG (American Century Focused Dynamic Growth ETF) and BUFSX (Buffalo Small Cap Fund) are both funds - FDG is a Global Equities fund actively managed by American Century, while BUFSX is a Small Cap Growth Equities fund managed by Buffalo. Over the past 5 years, FDG returned 10.32%/yr vs -3.10%/yr for BUFSX. A 0.79 correlation means they provide meaningful diversification when combined. FDG charges 0.45%/yr vs 1.01%/yr for BUFSX.

Performance

FDG vs. BUFSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Focused Dynamic Growth ETF (FDG) and Buffalo Small Cap Fund (BUFSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDG achieves a 3.76% return, which is significantly lower than BUFSX's 16.55% return.

FDG

• 1D: -2.18%
• 1M: -4.66%
• YTD: 3.76%
• 6M: 2.48%
• 1Y: 27.20%
• 3Y*: 26.86%
• 5Y*: 10.32%
• 10Y*: —

BUFSX

• 1D: 2.61%
• 1M: 4.78%
• YTD: 16.55%
• 6M: 13.28%
• 1Y: 23.98%
• 3Y*: 6.67%
• 5Y*: -3.10%
• 10Y*: 11.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FDG vs. BUFSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FDG American Century Focused Dynamic Growth ETF	3.76%	22.13%	45.89%	37.22%	-35.74%	8.52%	96.27%
BUFSX Buffalo Small Cap Fund	16.55%	-0.13%	5.38%	5.45%	-30.01%	4.44%	121.44%

Correlation

The correlation between FDG and BUFSX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Apr 2, 2020	0.79

The correlation between FDG and BUFSX shifts across timeframes, from 0.64 (1 year) to 0.79 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDG vs. BUFSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FDG

FDG Risk / Return Rank: 39
FDG Sharpe Ratio Rank: 41
FDG Sortino Ratio Rank: 39
FDG Omega Ratio Rank: 39
FDG Calmar Ratio Rank: 36
FDG Martin Ratio Rank: 38

BUFSX

BUFSX Risk / Return Rank: 21
BUFSX Sharpe Ratio Rank: 20
BUFSX Sortino Ratio Rank: 21
BUFSX Omega Ratio Rank: 18
BUFSX Calmar Ratio Rank: 21
BUFSX Martin Ratio Rank: 26

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FDG vs. BUFSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Focused Dynamic Growth ETF (FDG) and Buffalo Small Cap Fund (BUFSX). 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.

	FDG	BUFSX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.19	+0.24
Sortino ratio: Return per unit of downside risk	1.95	1.80	+0.15
Omega ratio: Gain probability vs. loss probability	1.25	1.21	+0.04
Calmar ratio: Return relative to maximum drawdown	1.74	1.57	+0.17
Martin ratio: Return relative to average drawdown	5.92	5.77	+0.15

FDG vs. BUFSX - Sharpe Ratio Comparison

The current FDG Sharpe Ratio is 1.43, which is comparable to the BUFSX Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of FDG and BUFSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FDG vs. BUFSX - Drawdown Comparison

The maximum FDG drawdown since its inception was -43.69%, smaller than the maximum BUFSX drawdown of -53.24%. Use the drawdown chart below to compare losses from any high point for FDG and BUFSX.

Drawdown Indicators

	FDG	BUFSX	Difference
Max Drawdown Largest peak-to-trough decline	-43.69%	-53.24%	+9.55%
Max Drawdown (1Y) Largest decline over 1 year	-15.71%	-14.92%	-0.79%
Max Drawdown (3Y) Largest decline over 3 years	-26.14%	-26.39%	+0.25%
Max Drawdown (5Y) Largest decline over 5 years	-43.69%	-46.57%	+2.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-46.74%	—
Current Drawdown Current decline from peak	-6.52%	-20.61%	+14.09%
Average Drawdown Average peak-to-trough decline	-13.36%	-12.93%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	4.06%	+0.55%

Volatility

FDG vs. BUFSX - Volatility Comparison

American Century Focused Dynamic Growth ETF (FDG) has a higher volatility of 8.04% compared to Buffalo Small Cap Fund (BUFSX) at 6.94%. This indicates that FDG's price experiences larger fluctuations and is considered to be riskier than BUFSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDG	BUFSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.04%	6.94%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	15.67%	14.59%	+1.08%
Volatility (1Y) Calculated over the trailing 1-year period	19.09%	19.68%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.86%	24.60%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.98%	24.63%	+0.35%

FDG vs. BUFSX - Expense Ratio Comparison

FDG has a 0.45% expense ratio, which is lower than BUFSX's 1.01% expense ratio.

Dividends

FDG vs. BUFSX - Dividend Comparison

Neither FDG nor BUFSX has paid dividends to shareholders.

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%
FDG American Century Focused Dynamic Growth ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDG and BUFSX in my portfolio?

FDG and BUFSX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDG or BUFSX?

FDG has higher volatility (8.04%) compared to BUFSX (6.94%). In terms of maximum drawdown, FDG dropped -43.69% vs BUFSX's -53.24%.

Which has better risk-adjusted returns?

FDG currently has the higher Sharpe Ratio (1.43 vs 1.19), 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.