BOXX vs. JBBB

Last updated Aug 2, 2026

BOXX (Alpha Architect 1-3 Month Box ETF) and JBBB (Janus Henderson B-BBB CLO ETF) are both exchange-traded funds - BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index, while JBBB is a CLO fund actively managed by Janus Henderson. BOXX is passively managed, while JBBB is actively managed. Over the past 3 years, BOXX returned 4.73%/yr vs 7.87%/yr for JBBB. Their -0.00 correlation means they have often moved in opposite directions in the past. BOXX charges 0.19%/yr vs 0.49%/yr for JBBB.

Performance

BOXX vs. JBBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect 1-3 Month Box ETF (BOXX) and Janus Henderson B-BBB CLO ETF (JBBB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOXX achieves a 2.26% return, which is significantly lower than JBBB's 2.73% return.

BOXX

• 1D: 0.06%
• 1M: 0.41%
• 6M: 1.95%
• YTD: 2.26%
• 1Y: 4.08%
• 3Y*: 4.73%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.71%

JBBB

• 1D: 0.14%
• 1M: 0.31%
• 6M: 1.91%
• YTD: 2.73%
• 1Y: 5.02%
• 3Y*: 7.87%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.90%

*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)
BOXX Alpha Architect 1-3 Month Box ETF	$253.32M	$264.36M	$274.97M
JBBB Janus Henderson B-BBB CLO ETF	$11.42M	$11.95M	$15.50M

BOXX vs. JBBB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BOXX Alpha Architect 1-3 Month Box ETF	2.26%	4.37%	5.16%	5.04%	0.07%
JBBB Janus Henderson B-BBB CLO ETF	2.73%	4.40%	10.72%	16.91%	-0.55%

Correlation

The correlation between BOXX and JBBB is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.13
Correlation (3Y) Balances recent behavior with more history.	-0.00
Correlation (All Time) Calculated using the full available price history since Dec 28, 2022	-0.00

The correlation between BOXX and JBBB shifts across timeframes, from -0.13 (1 year) to -0.00 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BOXX vs. JBBB — Risk / Return Rank

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

BOXX

BOXX Risk / Return Rank: 100
BOXX Sharpe Ratio Rank: 100
BOXX Sortino Ratio Rank: 100
BOXX Omega Ratio Rank: 100
BOXX Calmar Ratio Rank: 100
BOXX Martin Ratio Rank: 100

JBBB

JBBB Risk / Return Rank: 60
JBBB Sharpe Ratio Rank: 58
JBBB Sortino Ratio Rank: 65
JBBB Omega Ratio Rank: 71
JBBB Calmar Ratio Rank: 53
JBBB Martin Ratio Rank: 54

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.

BOXX vs. JBBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect 1-3 Month Box ETF (BOXX) and Janus Henderson B-BBB CLO ETF (JBBB). 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	JBBB	Difference
Sharpe ratio: Return per unit of total volatility	12.44	1.36	+11.08
Sortino ratio: Return per unit of downside risk	36.42	2.15	+34.27
Omega ratio: Gain probability vs. loss probability	8.74	1.29	+7.44
Calmar ratio: Return relative to maximum drawdown	60.17	1.90	+58.27
Martin ratio: Return relative to average drawdown	505.74	6.39	+499.35

BOXX vs. JBBB - Sharpe Ratio Comparison

The current BOXX Sharpe Ratio is 12.44, which is higher than the JBBB Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of BOXX and JBBB, 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

BOXX vs. JBBB - Drawdown Comparison

The maximum BOXX drawdown since its inception was -0.12%, smaller than the maximum JBBB drawdown of -10.79%. Use the drawdown chart below to compare losses from any high point for BOXX and JBBB.

Drawdown Indicators

	BOXX	JBBB	Difference
Max Drawdown Largest peak-to-trough decline	-0.12%	-10.79%	+10.67%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	-2.46%	+2.39%
Max Drawdown (3Y) Largest decline over 3 years	-0.12%	-4.35%	+4.23%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-1.66%	+1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.73%	-0.72%

Volatility

BOXX vs. JBBB - Volatility Comparison

The current volatility for Alpha Architect 1-3 Month Box ETF (BOXX) is 0.09%, while Janus Henderson B-BBB CLO ETF (JBBB) has a volatility of 0.56%. This indicates that BOXX experiences smaller price fluctuations and is considered to be less risky than JBBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOXX	JBBB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.56%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	0.27%	3.06%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	0.33%	3.44%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.37%	5.16%	-4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.37%	5.16%	-4.79%

BOXX vs. JBBB - Expense Ratio Comparison

BOXX has a 0.19% expense ratio, which is lower than JBBB's 0.49% expense ratio.

Dividends

BOXX vs. JBBB - Dividend Comparison

BOXX has not paid dividends to shareholders, while JBBB's dividend yield for the trailing twelve months is around 7.06%.

Position	TTM	2025	2024	2023	2022
BOXX Alpha Architect 1-3 Month Box ETF	0.00%	0.00%	0.26%	0.00%	0.00%
JBBB Janus Henderson B-BBB CLO ETF	6.54%	7.41%	7.65%	8.10%	5.03%

Frequently Asked Questions

Can I hold both BOXX and JBBB in my portfolio?

BOXX and JBBB have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOXX or JBBB?

JBBB has higher volatility (0.56%) compared to BOXX (0.09%). In terms of maximum drawdown, BOXX dropped -0.12% vs JBBB's -10.79%.

Which ETF is better, BOXX or JBBB?

On 3-year performance, JBBB leads with 7.87% vs 4.73% for BOXX. On fees, BOXX is cheaper at 0.19% per year. On volatility, BOXX has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOXX or JBBB?

Over the 3-year period, JBBB has performed better with a 7.87% return vs 4.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOXX or JBBB?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.49% for JBBB.

Which ETF pays a higher dividend yield, BOXX or JBBB?

JBBB has the higher dividend yield at 6.54%, compared with 0.00% for BOXX.

What is the main difference between BOXX and JBBB?

BOXX is categorized as Ultrashort Bond, while JBBB is CLO. They also come from different issuers: Alpha Architect and Janus Henderson. Their fees differ too: 0.19% for BOXX and 0.49% for JBBB.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.44 vs 1.36), 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.