BOXA vs. AAEQ

Last updated Jun 24, 2026

BOXA (Alpha Architect Aggregate Bond ETF) and AAEQ (Alpha Architect US Equity 2 ETF) are both exchange-traded funds - BOXA is a Intermediate Core Bond fund actively managed by Alpha Architect, while AAEQ is a Large Cap Blend Equities fund actively managed by Alpha Architect. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. BOXA charges 0.23%/yr vs 0.15%/yr for AAEQ.

Performance

BOXA vs. AAEQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect Aggregate Bond ETF (BOXA) and Alpha Architect US Equity 2 ETF (AAEQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOXA achieves a 0.22% return, which is significantly lower than AAEQ's 5.97% return.

BOXA

• 1D: 0.31%
• 1M: 0.90%
• YTD: 0.22%
• 6M: 0.10%
• 1Y: 3.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AAEQ

• 1D: -1.35%
• 1M: -1.80%
• YTD: 5.97%
• 6M: 4.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BOXA vs. AAEQ - Yearly Performance Comparison

	2026 (YTD)	2025
BOXA Alpha Architect Aggregate Bond ETF	0.22%	0.25%
AAEQ Alpha Architect US Equity 2 ETF	5.97%	-1.11%

Correlation

The correlation between BOXA and AAEQ is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.39

Return for Risk

BOXA vs. AAEQ — Risk / Return Rank

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

BOXA

BOXA Risk / Return Rank: 23
BOXA Sharpe Ratio Rank: 25
BOXA Sortino Ratio Rank: 24
BOXA Omega Ratio Rank: 22
BOXA Calmar Ratio Rank: 22
BOXA Martin Ratio Rank: 23

AAEQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

BOXA vs. AAEQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect Aggregate Bond ETF (BOXA) and Alpha Architect US Equity 2 ETF (AAEQ). 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.

	BOXA	AAEQ	Difference
Sharpe ratio: Return per unit of total volatility	0.86	—	—
Sortino ratio: Return per unit of downside risk	1.27	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	0.99	—	—
Martin ratio: Return relative to average drawdown	2.81	—	—

Drawdowns

BOXA vs. AAEQ - Drawdown Comparison

The maximum BOXA drawdown since its inception was -3.22%, smaller than the maximum AAEQ drawdown of -10.26%. Use the drawdown chart below to compare losses from any high point for BOXA and AAEQ.

Drawdown Indicators

	BOXA	AAEQ	Difference
Max Drawdown Largest peak-to-trough decline	-3.22%	-10.26%	+7.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	—	—
Current Drawdown Current decline from peak	-1.64%	-3.43%	+1.79%
Average Drawdown Average peak-to-trough decline	-0.79%	-2.43%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	—	—

Volatility

Volatility by Period

	BOXA	AAEQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.98%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	14.32%	-10.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.13%	14.32%	-10.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.13%	14.32%	-10.19%

BOXA vs. AAEQ - Expense Ratio Comparison

BOXA has a 0.23% expense ratio, which is higher than AAEQ's 0.15% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BOXA vs. AAEQ - Dividend Comparison

BOXA's dividend yield for the trailing twelve months is around 0.13%, more than AAEQ's 0.09% yield.

Position	TTM	2025
AAEQ Alpha Architect US Equity 2 ETF	0.09%	0.10%
BOXA Alpha Architect Aggregate Bond ETF	0.13%	0.13%

Frequently Asked Questions

Can I hold both BOXA and AAEQ in my portfolio?

BOXA and AAEQ have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BOXA or AAEQ?

On fees, AAEQ is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BOXA or AAEQ?

AAEQ is cheaper with a 0.15% expense ratio, compared with 0.23% for BOXA.

Which ETF pays a higher dividend yield, BOXA or AAEQ?

BOXA has the higher dividend yield at 0.13%, compared with 0.09% for AAEQ.

What is the main difference between BOXA and AAEQ?

BOXA is categorized as Intermediate Core Bond, while AAEQ is Large Cap Blend Equities. Their fees differ too: 0.23% for BOXA and 0.15% for AAEQ.