FLTB vs. BOXX

Last updated Jun 23, 2026

FLTB (Fidelity Limited Term Bond ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - FLTB is a Short-Term Bond fund actively managed by Fidelity, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. FLTB is actively managed, while BOXX is passively managed. Over the past 3 years, FLTB returned 5.58%/yr vs 4.71%/yr for BOXX. At a 0.03 correlation, their price movements are largely independent. FLTB charges 0.25%/yr vs 0.19%/yr for BOXX.

Performance

FLTB vs. BOXX - Performance Comparison

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

Returns By Period

In the year-to-date period, FLTB achieves a 0.82% return, which is significantly lower than BOXX's 1.72% return.

FLTB

• 1D: -0.06%
• 1M: 0.32%
• YTD: 0.82%
• 6M: 0.86%
• 1Y: 4.26%
• 3Y*: 5.58%
• 5Y*: 2.30%
• 10Y*: 2.44%

BOXX

• 1D: 0.02%
• 1M: 0.18%
• YTD: 1.72%
• 6M: 1.87%
• 1Y: 4.02%
• 3Y*: 4.71%
• 5Y*: —
• 10Y*: —

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

FLTB vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FLTB Fidelity Limited Term Bond ETF	0.82%	6.60%	5.14%	5.94%	-0.09%
BOXX Alpha Architect 1-3 Month Box ETF	1.72%	4.37%	5.16%	5.04%	0.07%

Correlation

The correlation between FLTB and BOXX is -0.02, 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	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Dec 28, 2022	0.03

Return for Risk

FLTB vs. BOXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FLTB

FLTB Risk / Return Rank: 66
FLTB Sharpe Ratio Rank: 64
FLTB Sortino Ratio Rank: 73
FLTB Omega Ratio Rank: 67
FLTB Calmar Ratio Rank: 59
FLTB Martin Ratio Rank: 66

BOXX

BOXX Risk / Return Rank: 100
BOXX Sharpe Ratio Rank: 100
BOXX Sortino Ratio Rank: 99
BOXX Omega Ratio Rank: 99
BOXX Calmar Ratio Rank: 99
BOXX Martin Ratio Rank: 100

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.

FLTB vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Limited Term Bond ETF (FLTB) and Alpha Architect 1-3 Month Box ETF (BOXX). 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.

	FLTB	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	12.63	-10.60
Sortino ratio: Return per unit of downside risk	3.14	35.92	-32.78
Omega ratio: Gain probability vs. loss probability	1.39	9.07	-7.68
Calmar ratio: Return relative to maximum drawdown	2.81	58.74	-55.94
Martin ratio: Return relative to average drawdown	11.71	507.08	-495.36

FLTB vs. BOXX - Sharpe Ratio Comparison

The current FLTB Sharpe Ratio is 2.04, which is lower than the BOXX Sharpe Ratio of 12.63. The chart below compares the historical Sharpe Ratios of FLTB and BOXX, 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

FLTB vs. BOXX - Drawdown Comparison

The maximum FLTB drawdown since its inception was -9.37%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for FLTB and BOXX.

Drawdown Indicators

	FLTB	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-9.37%	-0.12%	-9.25%
Max Drawdown (1Y) Largest decline over 1 year	-1.52%	-0.07%	-1.45%
Max Drawdown (3Y) Largest decline over 3 years	-1.52%	-0.12%	-1.40%
Max Drawdown (5Y) Largest decline over 5 years	-9.26%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-9.37%	—	—
Current Drawdown Current decline from peak	-0.28%	0.00%	-0.28%
Average Drawdown Average peak-to-trough decline	-1.39%	-0.00%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	0.01%	+0.35%

Volatility

FLTB vs. BOXX - Volatility Comparison

Fidelity Limited Term Bond ETF (FLTB) has a higher volatility of 0.57% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.12%. This indicates that FLTB's price experiences larger fluctuations and is considered to be riskier than BOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLTB	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.57%	0.12%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	1.66%	0.26%	+1.40%
Volatility (1Y) Calculated over the trailing 1-year period	2.10%	0.32%	+1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.81%	0.37%	+2.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.94%	0.37%	+2.57%

FLTB vs. BOXX - Expense Ratio Comparison

FLTB has a 0.25% expense ratio, which is higher than BOXX's 0.19% 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

FLTB vs. BOXX - Dividend Comparison

FLTB's dividend yield for the trailing twelve months is around 4.36%, while BOXX has not paid dividends to shareholders.

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%
FLTB Fidelity Limited Term Bond ETF	4.36%	4.31%	4.11%	3.20%	1.63%	0.89%	1.56%	2.67%	2.50%	1.78%	1.59%	1.63%

Frequently Asked Questions

Can I hold both FLTB and BOXX in my portfolio?

FLTB and BOXX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLTB or BOXX?

FLTB has higher volatility (0.57%) compared to BOXX (0.12%). In terms of maximum drawdown, FLTB dropped -9.37% vs BOXX's -0.12%.

Which ETF is better, FLTB or BOXX?

On 3-year performance, FLTB leads with 5.58% vs 4.71% for BOXX. On fees, BOXX is cheaper at 0.19% per year. On volatility, BOXX has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLTB or BOXX?

Over the 3-year period, FLTB has performed better with a 5.58% return vs 4.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLTB or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.25% for FLTB.

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

FLTB has the higher dividend yield at 4.36%, compared with 0.00% for BOXX.

What is the main difference between FLTB and BOXX?

FLTB is categorized as Short-Term Bond, while BOXX is Ultrashort Bond. They also come from different issuers: Fidelity and Alpha Architect. Their fees differ too: 0.25% for FLTB and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.63 vs 2.04), 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.