BOXA vs. BND
BOXA (Alpha Architect Aggregate Bond ETF) and BND (Vanguard Total Bond Market ETF) are both exchange-traded funds - BOXA is a Intermediate Core Bond fund actively managed by Alpha Architect, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. BOXA is actively managed, while BND is passively managed. Over the past year, BOXA returned 3.52% vs 5.11% for BND. With a 0.95 correlation, they move nearly in lockstep. BOXA charges 0.23%/yr vs 0.03%/yr for BND.
Performance
BOXA vs. BND - Performance Comparison
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Returns By Period
In the year-to-date period, BOXA achieves a -0.19% return, which is significantly lower than BND's 0.27% return.
BOXA
- 1D
- -0.22%
- 1M
- 0.13%
- YTD
- -0.19%
- 6M
- -0.46%
- 1Y
- 3.52%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BND
- 1D
- -0.19%
- 1M
- 0.27%
- YTD
- 0.27%
- 6M
- 0.12%
- 1Y
- 5.11%
- 3Y*
- 3.96%
- 5Y*
- 0.09%
- 10Y*
- 1.58%
BOXA vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
BOXA Alpha Architect Aggregate Bond ETF | -0.19% | 5.41% | 0.02% |
BND Vanguard Total Bond Market ETF | 0.27% | 7.08% | -0.06% |
Correlation
The correlation between BOXA and BND is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.95 |
The correlation between BOXA and BND has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.
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Return for Risk
BOXA vs. BND — Risk / Return Rank
BOXA
BND
BOXA vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alpha Architect Aggregate Bond ETF (BOXA) and Vanguard Total Bond Market ETF (BND). 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.
| BOXA | BND | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.24 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.92 | -0.82 |
| Martin ratioReturn relative to average drawdown | 3.36 | 5.80 | -2.44 |
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
| BOXA | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.94 | 1.36 | -0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.01 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.29 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.87 | 0.59 | +0.28 |
Drawdowns
BOXA vs. BND - Drawdown Comparison
The maximum BOXA drawdown since its inception was -3.22%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for BOXA and BND.
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Drawdown Indicators
| BOXA | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.22% | -18.58% | +15.36% |
Max Drawdown (1Y)Largest decline over 1 year | -3.22% | -2.68% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | — | -5.92% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -17.91% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.58% | — |
Current DrawdownCurrent decline from peak | -2.04% | -2.37% | +0.33% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -3.06% | +2.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.88% | +0.17% |
Volatility
BOXA vs. BND - Volatility Comparison
Alpha Architect Aggregate Bond ETF (BOXA) has a higher volatility of 1.36% compared to Vanguard Total Bond Market ETF (BND) at 1.23%. This indicates that BOXA's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOXA | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.23% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.62% | 2.66% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.75% | 3.78% | -0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.15% | 6.02% | -1.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.15% | 5.53% | -1.38% |
BOXA vs. BND - Expense Ratio Comparison
BOXA has a 0.23% expense ratio, which is higher than BND's 0.03% 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. BND - Dividend Comparison
BOXA's dividend yield for the trailing twelve months is around 0.13%, less than BND's 3.97% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BND Vanguard Total Bond Market ETF | 3.97% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
BOXA Alpha Architect Aggregate Bond ETF | 0.13% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, BOXA and BND move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
BOXA has higher volatility (1.36%) compared to BND (1.23%). In terms of maximum drawdown, BOXA dropped -3.22% vs BND's -18.58%.
On 1-year performance, BND leads with 5.11% vs 3.52% for BOXA. On fees, BND is cheaper at 0.03% per year. On volatility, BND has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BND has performed better with a 5.11% return vs 3.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BND is cheaper with a 0.03% expense ratio, compared with 0.23% for BOXA.
BND has the higher dividend yield at 3.97%, compared with 0.13% for BOXA.
BOXA is categorized as Intermediate Core Bond, while BND is Total Bond Market. They also come from different issuers: Alpha Architect and Vanguard. Their fees differ too: 0.23% for BOXA and 0.03% for BND.
BND currently has the higher Sharpe Ratio (1.36 vs 0.94), 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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