BOXA vs. USFI

Last updated Aug 6, 2026

BOXA (Alpha Architect Aggregate Bond ETF) and USFI (BrandywineGLOBAL - U.S. Fixed Income ETF) are both exchange-traded funds - BOXA is a Intermediate Core Bond fund actively managed by Alpha Architect, while USFI is a Actively Managed fund actively managed by BrandywineGLOBAL. Both are actively managed. Over the past year, BOXA returned 1.43% vs 3.15% for USFI. Their correlation of 0.81 means they have usually moved in the same direction. BOXA charges 0.23%/yr vs 0.39%/yr for USFI.

Performance

BOXA vs. USFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect Aggregate Bond ETF (BOXA) and BrandywineGLOBAL - U.S. Fixed Income ETF (USFI). 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 USFI's 1.13% return.

BOXA

• 1D: 0.06%
• 1M: -0.76%
• 6M: -0.45%
• YTD: -0.22%
• 1Y: 1.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.16%

USFI

• 1D: 0.16%
• 1M: -0.20%
• 6M: 1.12%
• YTD: 1.13%
• 1Y: 3.15%
• 3Y*: 4.21%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BOXA Alpha Architect Aggregate Bond ETF	$142.22K	$95.57K	$87.96K
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	$274.63	$269.05	$5.97K

BOXA vs. USFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BOXA Alpha Architect Aggregate Bond ETF	-0.22%	5.41%	0.02%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	1.13%	6.96%	-1.00%

Correlation

The correlation between BOXA and USFI is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.81

The correlation between BOXA and USFI has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

BOXA vs. USFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BOXA

BOXA Risk / Return Rank: 17
BOXA Sharpe Ratio Rank: 18
BOXA Sortino Ratio Rank: 16
BOXA Omega Ratio Rank: 16
BOXA Calmar Ratio Rank: 17
BOXA Martin Ratio Rank: 17

USFI

USFI Risk / Return Rank: 46
USFI Sharpe Ratio Rank: 36
USFI Sortino Ratio Rank: 37
USFI Omega Ratio Rank: 34
USFI Calmar Ratio Rank: 72
USFI Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BOXA vs. USFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect Aggregate Bond ETF (BOXA) and BrandywineGLOBAL - U.S. Fixed Income ETF (USFI). 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	USFI	Difference
Sharpe ratio: Return per unit of total volatility	0.40	1.03	-0.63
Sortino ratio: Return per unit of downside risk	0.57	1.59	-1.02
Omega ratio: Gain probability vs. loss probability	1.07	1.18	-0.12
Calmar ratio: Return relative to maximum drawdown	0.45	2.86	-2.42
Martin ratio: Return relative to average drawdown	1.08	6.79	-5.71

BOXA vs. USFI - Sharpe Ratio Comparison

The current BOXA Sharpe Ratio is 0.40, which is lower than the USFI Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of BOXA and USFI, 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

BOXA vs. USFI - Drawdown Comparison

The maximum BOXA drawdown since its inception was -3.22%, smaller than the maximum USFI drawdown of -8.47%. Use the drawdown chart below to compare losses from any high point for BOXA and USFI.

Drawdown Indicators

	BOXA	USFI	Difference
Max Drawdown Largest peak-to-trough decline	-3.22%	-8.47%	+5.25%
Max Drawdown (1Y) Largest decline over 1 year	-3.22%	-1.11%	-2.11%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.69%	—
Current Drawdown Current decline from peak	-2.07%	-0.43%	-1.64%
Average Drawdown Average peak-to-trough decline	-0.88%	-2.06%	+1.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	0.48%	+0.84%

Volatility

BOXA vs. USFI - Volatility Comparison

Alpha Architect Aggregate Bond ETF (BOXA) has a higher volatility of 1.07% compared to BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) at 0.75%. This indicates that BOXA's price experiences larger fluctuations and is considered to be riskier than USFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOXA	USFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	0.75%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	1.69%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	3.63%	3.08%	+0.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.13%	6.83%	-2.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.13%	6.83%	-2.70%

BOXA vs. USFI - Expense Ratio Comparison

BOXA has a 0.23% expense ratio, which is lower than USFI's 0.39% expense ratio.

Dividends

BOXA vs. USFI - Dividend Comparison

BOXA's dividend yield for the trailing twelve months is around 0.13%, less than USFI's 4.49% yield.

Position	TTM	2025	2024	2023
BOXA Alpha Architect Aggregate Bond ETF	0.13%	0.13%	0.00%	0.00%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	4.49%	4.42%	4.60%	1.83%

Frequently Asked Questions

Can I hold both BOXA and USFI in my portfolio?

BOXA and USFI have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOXA or USFI?

BOXA has higher volatility (1.07%) compared to USFI (0.75%). In terms of maximum drawdown, BOXA dropped -3.22% vs USFI's -8.47%.

Which ETF is better, BOXA or USFI?

On 1-year performance, USFI leads with 3.15% vs 1.43% for BOXA. On fees, BOXA is cheaper at 0.23% per year. On volatility, USFI has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOXA or USFI?

Over the 1-year period, USFI has performed better with a 3.15% return vs 1.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOXA or USFI?

BOXA is cheaper with a 0.23% expense ratio, compared with 0.39% for USFI.

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

USFI has the higher dividend yield at 4.49%, compared with 0.13% for BOXA.

What is the main difference between BOXA and USFI?

BOXA is categorized as Intermediate Core Bond, while USFI is Actively Managed. They also come from different issuers: Alpha Architect and BrandywineGLOBAL. Their fees differ too: 0.23% for BOXA and 0.39% for USFI.

Which has better risk-adjusted returns?

USFI currently has the higher Sharpe Ratio (1.03 vs 0.40), 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.