NCLEX vs. BUFOX
Compare and contrast key facts about Nicholas Limited Edition Fund (NCLEX) and Buffalo Early Stage Growth Fund (BUFOX).
NCLEX is managed by Nicholas. It was launched on May 18, 1987. BUFOX is managed by Buffalo. It was launched on May 21, 2004.
Performance
NCLEX vs. BUFOX - Performance Comparison
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NCLEX vs. BUFOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCLEX Nicholas Limited Edition Fund | -14.46% | -10.41% | 11.91% | 17.17% | -23.71% | 19.07% | 22.67% | 27.36% | -0.94% | 19.93% |
BUFOX Buffalo Early Stage Growth Fund | -7.88% | 3.09% | 7.52% | 9.83% | -30.78% | 7.43% | 47.85% | 34.06% | -3.78% | 27.03% |
Returns By Period
In the year-to-date period, NCLEX achieves a -14.46% return, which is significantly lower than BUFOX's -7.88% return. Over the past 10 years, NCLEX has underperformed BUFOX with an annualized return of 6.64%, while BUFOX has yielded a comparatively higher 8.73% annualized return.
NCLEX
- 1D
- 0.09%
- 1M
- -9.57%
- YTD
- -14.46%
- 6M
- -16.84%
- 1Y
- -16.93%
- 3Y*
- -2.12%
- 5Y*
- -2.31%
- 10Y*
- 6.64%
BUFOX
- 1D
- -1.32%
- 1M
- -12.04%
- YTD
- -7.88%
- 6M
- -8.82%
- 1Y
- 5.40%
- 3Y*
- 1.52%
- 5Y*
- -4.97%
- 10Y*
- 8.73%
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NCLEX vs. BUFOX - Expense Ratio Comparison
NCLEX has a 0.85% expense ratio, which is lower than BUFOX's 1.46% expense ratio.
Return for Risk
NCLEX vs. BUFOX — Risk / Return Rank
NCLEX
BUFOX
NCLEX vs. BUFOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nicholas Limited Edition Fund (NCLEX) and Buffalo Early Stage Growth Fund (BUFOX). 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.
| NCLEX | BUFOX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.87 | 0.21 | -1.08 |
Sortino ratioReturn per unit of downside risk | -1.20 | 0.47 | -1.67 |
Omega ratioGain probability vs. loss probability | 0.86 | 1.06 | -0.20 |
Calmar ratioReturn relative to maximum drawdown | -0.87 | 0.20 | -1.07 |
Martin ratioReturn relative to average drawdown | -2.41 | 0.64 | -3.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NCLEX | BUFOX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.87 | 0.21 | -1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.12 | -0.22 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.39 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.32 | +0.18 |
Correlation
The correlation between NCLEX and BUFOX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
NCLEX vs. BUFOX - Dividend Comparison
NCLEX's dividend yield for the trailing twelve months is around 8.81%, more than BUFOX's 5.54% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCLEX Nicholas Limited Edition Fund | 8.81% | 7.53% | 2.51% | 2.43% | 6.22% | 16.44% | 5.10% | 5.66% | 10.72% | 7.97% | 10.68% | 8.05% |
BUFOX Buffalo Early Stage Growth Fund | 5.54% | 5.10% | 0.00% | 0.00% | 1.20% | 15.83% | 11.19% | 4.77% | 14.50% | 20.01% | 8.35% | 8.53% |
Drawdowns
NCLEX vs. BUFOX - Drawdown Comparison
The maximum NCLEX drawdown since its inception was -48.68%, smaller than the maximum BUFOX drawdown of -69.71%. Use the drawdown chart below to compare losses from any high point for NCLEX and BUFOX.
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Drawdown Indicators
| NCLEX | BUFOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.68% | -69.71% | +21.03% |
Max Drawdown (1Y)Largest decline over 1 year | -21.36% | -15.52% | -5.84% |
Max Drawdown (5Y)Largest decline over 5 years | -28.50% | -43.17% | +14.67% |
Max Drawdown (10Y)Largest decline over 10 years | -35.79% | -43.17% | +7.38% |
Current DrawdownCurrent decline from peak | -28.44% | -29.15% | +0.71% |
Average DrawdownAverage peak-to-trough decline | -8.21% | -16.02% | +7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.74% | 4.90% | +2.84% |
Volatility
NCLEX vs. BUFOX - Volatility Comparison
The current volatility for Nicholas Limited Edition Fund (NCLEX) is 4.65%, while Buffalo Early Stage Growth Fund (BUFOX) has a volatility of 8.02%. This indicates that NCLEX experiences smaller price fluctuations and is considered to be less risky than BUFOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NCLEX | BUFOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.65% | 8.02% | -3.37% |
Volatility (6M)Calculated over the trailing 6-month period | 12.19% | 16.76% | -4.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.69% | 24.46% | -4.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.46% | 22.75% | -3.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.15% | 22.32% | -3.17% |