GAVA vs. BOXX

Last updated Aug 2, 2026

GAVA (Grayscale Avalanche Staking ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - GAVA is a Cryptocurrency fund actively managed by Grayscale, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. GAVA is actively managed, while BOXX is passively managed. Their -0.14 correlation means they have often moved in opposite directions in the past. GAVA charges 0.35%/yr vs 0.19%/yr for BOXX.

Performance

GAVA vs. BOXX - Performance Comparison

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

Returns By Period

GAVA

• 1D: -1.11%
• 1M: -5.05%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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%

*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
GAVA Grayscale Avalanche Staking ETF	$25.36K	$35.54K	$52.60K

GAVA vs. BOXX - Yearly Performance Comparison

	2026 (YTD)
GAVA Grayscale Avalanche Staking ETF	-32.74%
BOXX Alpha Architect 1-3 Month Box ETF	1.51%

Correlation

The correlation between GAVA and BOXX is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	-0.14

Return for Risk

GAVA vs. BOXX — Risk / Return Rank

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

GAVA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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

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.

GAVA vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Avalanche Staking ETF (GAVA) 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.

	GAVA	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	—	12.44	—
Sortino ratio: Return per unit of downside risk	—	36.42	—
Omega ratio: Gain probability vs. loss probability	—	8.74	—
Calmar ratio: Return relative to maximum drawdown	—	60.17	—
Martin ratio: Return relative to average drawdown	—	505.74	—

Drawdowns

GAVA vs. BOXX - Drawdown Comparison

The maximum GAVA drawdown since its inception was -40.42%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for GAVA and BOXX.

Drawdown Indicators

	GAVA	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-40.42%	-0.12%	-40.30%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.07%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.12%	—
Current Drawdown Current decline from peak	-37.27%	0.00%	-37.27%
Average Drawdown Average peak-to-trough decline	-19.71%	0.00%	-19.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	GAVA	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.27%	—
Volatility (1Y) Calculated over the trailing 1-year period	52.40%	0.33%	+52.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	52.40%	0.37%	+52.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	52.40%	0.37%	+52.03%

GAVA vs. BOXX - Expense Ratio Comparison

GAVA has a 0.35% expense ratio, which is higher than BOXX's 0.19% expense ratio.

Dividends

GAVA vs. BOXX - Dividend Comparison

Neither GAVA 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%
GAVA Grayscale Avalanche Staking ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GAVA and BOXX in my portfolio?

GAVA and BOXX have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GAVA or BOXX?

On fees, BOXX is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GAVA or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.35% for GAVA.

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

GAVA and BOXX have nearly identical dividend yields, around 0.00%.

What is the main difference between GAVA and BOXX?

GAVA is categorized as Cryptocurrency, while BOXX is Ultrashort Bond. They also come from different issuers: Grayscale and Alpha Architect. Their fees differ too: 0.35% for GAVA and 0.19% for BOXX.