BOXX vs. GUNR
BOXX (Alpha Architect 1-3 Month Box ETF) and GUNR (FlexShares Morningstar Global Upstream Natural Resources Index Fund) are both exchange-traded funds - BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index, while GUNR is a Natural Resources fund tracking the Morningstar Global Upstream Natural Resources Index. Both are passively managed. Over the past 3 years, BOXX returned 4.68%/yr vs 10.35%/yr for GUNR. At a correlation of -0.01, they often move in opposite directions. BOXX charges 0.19%/yr vs 0.46%/yr for GUNR.
Performance
BOXX vs. GUNR - Performance Comparison
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Returns By Period
In the year-to-date period, BOXX achieves a 1.75% return, which is significantly lower than GUNR's 8.35% return.
BOXX
- 1D
- -0.02%
- 1M
- 0.20%
- YTD
- 1.75%
- 6M
- 1.78%
- 1Y
- 3.96%
- 3Y*
- 4.68%
- 5Y*
- —
- 10Y*
- —
GUNR
- 1D
- -0.30%
- 1M
- -8.23%
- YTD
- 8.35%
- 6M
- 8.37%
- 1Y
- 26.00%
- 3Y*
- 10.35%
- 5Y*
- 8.88%
- 10Y*
- 9.75%
BOXX vs. GUNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
BOXX Alpha Architect 1-3 Month Box ETF | 1.75% | 4.37% | 5.16% | 5.04% | 0.07% |
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 8.35% | 30.03% | -8.37% | -2.40% | -1.43% |
Correlation
The correlation between BOXX and GUNR is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2022 | -0.01 |
The correlation between BOXX and GUNR shifts across timeframes, from -0.01 (all time) to 0.11 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BOXX vs. GUNR — Risk / Return Rank
BOXX
GUNR
BOXX vs. GUNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alpha Architect 1-3 Month Box ETF (BOXX) and FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR). 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.
| BOXX | GUNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +10.63 | ||
| Sortino ratioReturn per unit of downside risk | +32.37 | ||
| Omega ratioGain probability vs. loss probability | 8.42 | 1.29 | +7.13 |
| Calmar ratioReturn relative to maximum drawdown | 57.79 | 2.25 | +55.54 |
| Martin ratioReturn relative to average drawdown | 488.84 | 9.41 | +479.43 |
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Drawdowns
BOXX vs. GUNR - Drawdown Comparison
The maximum BOXX drawdown since its inception was -0.12%, smaller than the maximum GUNR drawdown of -45.64%. Use the drawdown chart below to compare losses from any high point for BOXX and GUNR.
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Drawdown Indicators
| BOXX | GUNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.12% | -45.64% | +45.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -11.63% | +11.56% |
Max Drawdown (3Y)Largest decline over 3 years | -0.12% | -19.59% | +19.47% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.06% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -43.04% | — |
Current DrawdownCurrent decline from peak | -0.02% | -11.43% | +11.41% |
Average DrawdownAverage peak-to-trough decline | -0.00% | -10.39% | +10.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 2.77% | -2.76% |
Volatility
BOXX vs. GUNR - Volatility Comparison
The current volatility for Alpha Architect 1-3 Month Box ETF (BOXX) is 0.10%, while FlexShares Morningstar Global Upstream Natural Resources Index Fund (GUNR) has a volatility of 5.33%. This indicates that BOXX experiences smaller price fluctuations and is considered to be less risky than GUNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BOXX | GUNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.10% | 5.33% | -5.23% |
Volatility (6M)Calculated over the trailing 6-month period | 0.26% | 13.35% | -13.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.32% | 15.94% | -15.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.37% | 19.03% | -18.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.37% | 20.33% | -19.96% |
BOXX vs. GUNR - Expense Ratio Comparison
BOXX has a 0.19% expense ratio, which is lower than GUNR's 0.46% expense ratio.
Dividends
BOXX vs. GUNR - Dividend Comparison
BOXX has not paid dividends to shareholders, while GUNR's dividend yield for the trailing twelve months is around 2.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BOXX Alpha Architect 1-3 Month Box ETF | 0.00% | 0.00% | 0.26% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
GUNR FlexShares Morningstar Global Upstream Natural Resources Index Fund | 2.47% | 2.81% | 3.39% | 3.55% | 4.12% | 3.61% | 2.79% | 3.25% | 3.27% | 2.00% | 1.73% | 4.50% |
Frequently Asked Questions
BOXX and GUNR have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GUNR has higher volatility (5.33%) compared to BOXX (0.10%). In terms of maximum drawdown, BOXX dropped -0.12% vs GUNR's -45.64%.
On 3-year performance, GUNR leads with 10.35% vs 4.68% for BOXX. On fees, BOXX is cheaper at 0.19% per year. On volatility, BOXX has been the lower-risk option at 0.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GUNR has performed better with a 10.35% return vs 4.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BOXX is cheaper with a 0.19% expense ratio, compared with 0.46% for GUNR.
GUNR has the higher dividend yield at 2.47%, compared with 0.00% for BOXX.
BOXX is categorized as Ultrashort Bond, while GUNR is Natural Resources. BOXX tracks Solactive 1-3 Month US T-Bill Index, while GUNR tracks Morningstar Global Upstream Natural Resources Index. They also come from different issuers: Alpha Architect and Northern Trust. Their fees differ too: 0.19% for BOXX and 0.46% for GUNR.
BOXX currently has the higher Sharpe Ratio (12.27 vs 1.64), 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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