FWRG vs. BOXX
FWRG (First Watch Restaurant Group, Inc.) is a stock, while BOXX (Alpha Architect 1-3 Month Box ETF) is Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. Over the past 3 years, FWRG returned -9.21%/yr vs 4.72%/yr for BOXX. At a correlation of -0.00, they often move in opposite directions.
Performance
FWRG vs. BOXX - Performance Comparison
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Returns By Period
In the year-to-date period, FWRG achieves a -19.10% return, which is significantly lower than BOXX's 1.75% return.
FWRG
- 1D
- 0.99%
- 1M
- 5.72%
- YTD
- -19.10%
- 6M
- -22.74%
- 1Y
- -18.94%
- 3Y*
- -9.21%
- 5Y*
- —
- 10Y*
- —
BOXX
- 1D
- 0.04%
- 1M
- 0.23%
- YTD
- 1.75%
- 6M
- 1.87%
- 1Y
- 4.00%
- 3Y*
- 4.72%
- 5Y*
- —
- 10Y*
- —
FWRG vs. BOXX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FWRG First Watch Restaurant Group, Inc. | -19.10% | -18.97% | -7.41% | 48.56% | -1.46% |
BOXX Alpha Architect 1-3 Month Box ETF | 1.75% | 4.37% | 5.16% | 5.04% | 0.07% |
Correlation
The correlation between FWRG and BOXX is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Dec 28, 2022 | -0.00 |
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Return for Risk
FWRG vs. BOXX — Risk / Return Rank
FWRG
BOXX
FWRG vs. BOXX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Watch Restaurant Group, Inc. (FWRG) 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.
| FWRG | BOXX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -12.80 | ||
| Sortino ratioReturn per unit of downside risk | -35.41 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 8.74 | -7.76 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 58.32 | -58.72 |
| Martin ratioReturn relative to average drawdown | -0.77 | 497.74 | -498.51 |
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Drawdowns
FWRG vs. BOXX - Drawdown Comparison
The maximum FWRG drawdown since its inception was -60.38%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for FWRG and BOXX.
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Drawdown Indicators
| FWRG | BOXX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.38% | -0.12% | -60.26% |
Max Drawdown (1Y)Largest decline over 1 year | -47.26% | -0.07% | -47.19% |
Max Drawdown (3Y)Largest decline over 3 years | -60.38% | -0.12% | -60.26% |
Current DrawdownCurrent decline from peak | -52.19% | 0.00% | -52.19% |
Average DrawdownAverage peak-to-trough decline | -29.22% | -0.00% | -29.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 24.57% | 0.01% | +24.56% |
Volatility
FWRG vs. BOXX - Volatility Comparison
First Watch Restaurant Group, Inc. (FWRG) has a higher volatility of 18.33% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.10%. This indicates that FWRG'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.
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Volatility by Period
| FWRG | BOXX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.33% | 0.10% | +18.23% |
Volatility (6M)Calculated over the trailing 6-month period | 42.57% | 0.26% | +42.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 53.91% | 0.32% | +53.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.03% | 0.37% | +47.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 48.03% | 0.37% | +47.66% |
Dividends
FWRG vs. BOXX - Dividend Comparison
Neither FWRG nor BOXX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
BOXX Alpha Architect 1-3 Month Box ETF | 0.00% | 0.00% | 0.26% |
FWRG First Watch Restaurant Group, Inc. | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FWRG and BOXX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FWRG has higher volatility (18.33%) compared to BOXX (0.10%). In terms of maximum drawdown, FWRG dropped -60.38% vs BOXX's -0.12%.
BOXX currently has the higher Sharpe Ratio (12.45 vs -0.35), 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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