BOXX vs. MA

Last updated Jul 21, 2026

BOXX (Alpha Architect 1-3 Month Box ETF) is Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index, while MA (Mastercard Incorporated) is a stock. Over the past 3 years, BOXX returned 4.71%/yr vs 11.92%/yr for MA. At a 0.02 correlation, their price movements are largely independent.

Performance

BOXX vs. MA - Performance Comparison

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

Returns By Period

In the year-to-date period, BOXX achieves a 2.09% return, which is significantly higher than MA's -3.64% return.

BOXX

• 1D: 0.01%
• 1M: 0.38%
• 6M: 1.89%
• YTD: 2.09%
• 1Y: 4.08%
• 3Y*: 4.71%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.71%

MA

• 1D: 0.71%
• 1M: 11.96%
• 6M: 1.82%
• YTD: -3.64%
• 1Y: -0.33%
• 3Y*: 11.92%
• 5Y*: 8.21%
• 10Y*: 20.01%
• ALL TIME*: 28.24%

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

BOXX vs. MA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BOXX Alpha Architect 1-3 Month Box ETF	2.09%	4.37%	5.16%	5.04%	0.07%
MA Mastercard Incorporated	-3.64%	9.04%	24.17%	23.40%	0.45%

Correlation

The correlation between BOXX and MA is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
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	0.02

Return for Risk

BOXX vs. MA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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: 99
BOXX Calmar Ratio Rank: 100
BOXX Martin Ratio Rank: 100

MA

MA Risk / Return Rank: 42
MA Sharpe Ratio Rank: 45
MA Sortino Ratio Rank: 37
MA Omega Ratio Rank: 37
MA Calmar Ratio Rank: 45
MA Martin Ratio Rank: 45

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.

BOXX vs. MA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect 1-3 Month Box ETF (BOXX) and Mastercard Incorporated (MA). 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	MA	Difference
Sharpe ratio: Return per unit of total volatility	12.46	-0.02	+12.47
Sortino ratio: Return per unit of downside risk	36.19	0.13	+36.06
Omega ratio: Gain probability vs. loss probability	8.79	1.02	+7.78
Calmar ratio: Return relative to maximum drawdown	59.60	-0.02	+59.62
Martin ratio: Return relative to average drawdown	502.06	-0.03	+502.09

BOXX vs. MA - Sharpe Ratio Comparison

The current BOXX Sharpe Ratio is 12.46, which is higher than the MA Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of BOXX and MA, 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. MA - Drawdown Comparison

The maximum BOXX drawdown since its inception was -0.12%, smaller than the maximum MA drawdown of -62.67%. Use the drawdown chart below to compare losses from any high point for BOXX and MA.

Drawdown Indicators

	BOXX	MA	Difference
Max Drawdown Largest peak-to-trough decline	-0.12%	-62.67%	+62.55%
Max Drawdown (1Y) Largest decline over 1 year	-0.07%	-20.91%	+20.84%
Max Drawdown (3Y) Largest decline over 3 years	-0.12%	-20.91%	+20.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.25%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.00%	—
Current Drawdown Current decline from peak	0.00%	-8.03%	+8.03%
Average Drawdown Average peak-to-trough decline	-0.00%	-9.84%	+9.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	11.12%	-11.11%

Volatility

BOXX vs. MA - Volatility Comparison

The current volatility for Alpha Architect 1-3 Month Box ETF (BOXX) is 0.11%, while Mastercard Incorporated (MA) has a volatility of 6.95%. This indicates that BOXX experiences smaller price fluctuations and is considered to be less risky than MA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BOXX	MA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.11%	6.95%	-6.84%
Volatility (6M) Calculated over the trailing 6-month period	0.26%	17.75%	-17.49%
Volatility (1Y) Calculated over the trailing 1-year period	0.33%	21.88%	-21.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.37%	23.98%	-23.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.37%	26.91%	-26.54%

Dividends

BOXX vs. MA - Dividend Comparison

BOXX has not paid dividends to shareholders, while MA's dividend yield for the trailing twelve months is around 0.62%.

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%
MA Mastercard Incorporated	0.62%	0.53%	0.50%	0.53%	0.56%	0.49%	0.45%	0.44%	0.53%	0.58%	0.74%	0.66%

Frequently Asked Questions

Can I hold both BOXX and MA in my portfolio?

BOXX and MA have a correlation of -0.03, 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 MA?

MA has higher volatility (6.95%) compared to BOXX (0.11%). In terms of maximum drawdown, BOXX dropped -0.12% vs MA's -62.67%.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.46 vs -0.01), 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.