RYDAX vs. BUFBX

Last updated Jun 4, 2026

RYDAX (Rydex Dow Jones Industrial Average Fund) and BUFBX (Buffalo Flexible Income Fund) are both Large Cap Value Equities funds. Over the past 10 years, RYDAX returned 11.59%/yr vs 10.00%/yr for BUFBX. Their correlation of 0.82 suggests significant overlap in exposure. RYDAX charges 1.58%/yr vs 1.01%/yr for BUFBX.

Performance

RYDAX vs. BUFBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rydex Dow Jones Industrial Average Fund (RYDAX) and Buffalo Flexible Income Fund (BUFBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RYDAX achieves a 6.79% return, which is significantly lower than BUFBX's 12.83% return. Over the past 10 years, RYDAX has outperformed BUFBX with an annualized return of 11.59%, while BUFBX has yielded a comparatively lower 10.00% annualized return.

RYDAX

• 1D: 0.47%
• 1M: 4.95%
• YTD: 6.79%
• 6M: 7.15%
• 1Y: 20.72%
• 3Y*: 15.15%
• 5Y*: 8.38%
• 10Y*: 11.59%

BUFBX

• 1D: 0.57%
• 1M: 3.64%
• YTD: 12.83%
• 6M: 12.77%
• 1Y: 19.88%
• 3Y*: 13.91%
• 5Y*: 11.23%
• 10Y*: 10.00%

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

RYDAX vs. BUFBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYDAX Rydex Dow Jones Industrial Average Fund	6.79%	12.98%	13.10%	14.36%	-8.88%	19.11%	7.47%	23.13%	-5.14%	26.19%
BUFBX Buffalo Flexible Income Fund	12.83%	10.37%	10.26%	7.42%	3.97%	29.97%	-2.27%	18.76%	-7.01%	13.20%

Correlation

The correlation between RYDAX and BUFBX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.82

Over the past year, the correlation between RYDAX and BUFBX has dropped to 0.49 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

RYDAX vs. BUFBX — Risk / Return Rank

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

RYDAX

RYDAX Risk / Return Rank: 37
RYDAX Sharpe Ratio Rank: 38
RYDAX Sortino Ratio Rank: 39
RYDAX Omega Ratio Rank: 35
RYDAX Calmar Ratio Rank: 33
RYDAX Martin Ratio Rank: 37

BUFBX

BUFBX Risk / Return Rank: 71
BUFBX Sharpe Ratio Rank: 60
BUFBX Sortino Ratio Rank: 59
BUFBX Omega Ratio Rank: 52
BUFBX Calmar Ratio Rank: 97
BUFBX Martin Ratio Rank: 89

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.

RYDAX vs. BUFBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rydex Dow Jones Industrial Average Fund (RYDAX) and Buffalo Flexible Income Fund (BUFBX). 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.

	RYDAX	BUFBX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.28	-0.50
Sortino ratio: Return per unit of downside risk	2.60	3.24	-0.64
Omega ratio: Gain probability vs. loss probability	1.32	1.40	-0.08
Calmar ratio: Return relative to maximum drawdown	2.17	7.18	-5.00
Martin ratio: Return relative to average drawdown	8.21	17.54	-9.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYDAX vs. BUFBX - Sharpe Ratio Comparison

The current RYDAX Sharpe Ratio is 1.78, which is comparable to the BUFBX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of RYDAX and BUFBX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RYDAX	BUFBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.78	2.28	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.84	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.64	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.59	+0.07

Drawdowns

RYDAX vs. BUFBX - Drawdown Comparison

The maximum RYDAX drawdown since its inception was -37.34%, smaller than the maximum BUFBX drawdown of -39.78%. Use the drawdown chart below to compare losses from any high point for RYDAX and BUFBX.

Drawdown Indicators

	RYDAX	BUFBX	Difference
Max Drawdown Largest peak-to-trough decline	-37.34%	-39.78%	+2.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.86%	-2.83%	-7.03%
Max Drawdown (3Y) Largest decline over 3 years	-16.50%	-12.85%	-3.65%
Max Drawdown (5Y) Largest decline over 5 years	-22.12%	-14.67%	-7.45%
Max Drawdown (10Y) Largest decline over 10 years	-37.34%	-35.51%	-1.83%
Current Drawdown Current decline from peak	0.00%	-0.22%	+0.22%
Average Drawdown Average peak-to-trough decline	-4.34%	-4.72%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.60%	1.16%	+1.44%

Volatility

RYDAX vs. BUFBX - Volatility Comparison

Rydex Dow Jones Industrial Average Fund (RYDAX) and Buffalo Flexible Income Fund (BUFBX) have volatilities of 2.99% and 3.06%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYDAX	BUFBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	3.06%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	9.27%	6.61%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	12.05%	8.93%	+3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.81%	13.40%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.61%	15.60%	+2.01%

RYDAX vs. BUFBX - Expense Ratio Comparison

RYDAX has a 1.58% expense ratio, which is higher than BUFBX's 1.01% expense ratio.

Dividends

RYDAX vs. BUFBX - Dividend Comparison

RYDAX's dividend yield for the trailing twelve months is around 0.35%, less than BUFBX's 7.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFBX Buffalo Flexible Income Fund	7.99%	9.10%	3.77%	3.48%	4.16%	5.57%	3.33%	2.73%	6.01%	5.49%	2.39%	3.67%
RYDAX Rydex Dow Jones Industrial Average Fund	0.35%	0.38%	1.73%	0.75%	3.17%	1.22%	4.87%	4.02%	1.25%	3.70%	0.56%	0.00%

Frequently Asked Questions

Can I hold both RYDAX and BUFBX in my portfolio?

RYDAX and BUFBX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RYDAX or BUFBX?

BUFBX has higher volatility (3.06%) compared to RYDAX (2.99%). In terms of maximum drawdown, RYDAX dropped -37.34% vs BUFBX's -39.78%.

Which has better risk-adjusted returns?

BUFBX currently has the higher Sharpe Ratio (2.28 vs 1.78), 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.