GBF vs. BOXA
Compare and contrast key facts about iShares Government/Credit Bond ETF (GBF) and Alpha Architect Aggregate Bond ETF (BOXA).
GBF and BOXA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GBF is a passively managed fund by iShares that tracks the performance of the Bloomberg U.S. Government/Credit Bond Index. It was launched on Jan 11, 2007. BOXA is an actively managed fund by Alpha Architect. It was launched on Dec 17, 2024.
Performance
GBF vs. BOXA - Performance Comparison
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GBF vs. BOXA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 0.09% | 6.41% | -0.11% |
BOXA Alpha Architect Aggregate Bond ETF | -0.12% | 5.41% | 0.02% |
Returns By Period
In the year-to-date period, GBF achieves a 0.09% return, which is significantly higher than BOXA's -0.12% return.
GBF
- 1D
- -0.01%
- 1M
- -1.35%
- YTD
- 0.09%
- 6M
- 0.44%
- 1Y
- 3.51%
- 3Y*
- 3.20%
- 5Y*
- -0.04%
- 10Y*
- 1.58%
BOXA
- 1D
- -0.00%
- 1M
- -1.56%
- YTD
- -0.12%
- 6M
- 0.47%
- 1Y
- 2.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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GBF vs. BOXA - Expense Ratio Comparison
GBF has a 0.20% expense ratio, which is lower than BOXA's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
GBF vs. BOXA — Risk / Return Rank
GBF
BOXA
GBF vs. BOXA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Government/Credit Bond ETF (GBF) and Alpha Architect Aggregate Bond ETF (BOXA). 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.
| GBF | BOXA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.83 | 0.67 | +0.17 |
Sortino ratioReturn per unit of downside risk | 1.19 | 0.94 | +0.25 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.12 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.53 | 1.08 | +0.45 |
Martin ratioReturn relative to average drawdown | 4.29 | 3.43 | +0.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GBF | BOXA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.83 | 0.67 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.01 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.30 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 1.00 | -0.41 |
Correlation
The correlation between GBF and BOXA is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
GBF vs. BOXA - Dividend Comparison
GBF's dividend yield for the trailing twelve months is around 3.77%, more than BOXA's 0.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GBF iShares Government/Credit Bond ETF | 3.77% | 3.81% | 3.94% | 3.03% | 2.13% | 1.22% | 1.64% | 2.64% | 2.59% | 2.31% | 2.09% | 2.04% |
BOXA Alpha Architect Aggregate Bond ETF | 0.13% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
GBF vs. BOXA - Drawdown Comparison
The maximum GBF drawdown since its inception was -19.67%, which is greater than BOXA's maximum drawdown of -2.87%. Use the drawdown chart below to compare losses from any high point for GBF and BOXA.
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Drawdown Indicators
| GBF | BOXA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.67% | -2.87% | -16.80% |
Max Drawdown (1Y)Largest decline over 1 year | -2.50% | -2.87% | +0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -18.45% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -19.67% | — | — |
Current DrawdownCurrent decline from peak | -4.96% | -1.98% | -2.98% |
Average DrawdownAverage peak-to-trough decline | -3.66% | -0.59% | -3.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 0.91% | -0.02% |
Volatility
GBF vs. BOXA - Volatility Comparison
iShares Government/Credit Bond ETF (GBF) has a higher volatility of 1.64% compared to Alpha Architect Aggregate Bond ETF (BOXA) at 1.55%. This indicates that GBF's price experiences larger fluctuations and is considered to be riskier than BOXA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBF | BOXA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.64% | 1.55% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.53% | 2.41% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.23% | 4.14% | +0.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.92% | 4.18% | +1.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.27% | 4.18% | +1.09% |