HSUV-U.TO vs. BOXX

Last updated Jun 5, 2026

HSUV-U.TO (Global X USD Cash Maximizer Corporate Class ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - HSUV-U.TO is a Money Market fund actively managed by Global X, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. HSUV-U.TO is actively managed, while BOXX is passively managed. Over the past 3 years, HSUV-U.TO returned 4.59%/yr vs 4.75%/yr for BOXX. At a 0.09 correlation, their price movements are largely independent. HSUV-U.TO charges 0.18%/yr vs 0.19%/yr for BOXX.

Performance

HSUV-U.TO vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO) 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, HSUV-U.TO achieves a 1.49% return, which is significantly lower than BOXX's 1.59% return.

HSUV-U.TO

• 1D: 0.03%
• 1M: 0.52%
• YTD: 1.49%
• 6M: 1.81%
• 1Y: 3.75%
• 3Y*: 4.59%
• 5Y*: 3.58%
• 10Y*: —

BOXX

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.59%
• 6M: 1.98%
• 1Y: 4.09%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —

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

HSUV-U.TO vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HSUV-U.TO Global X USD Cash Maximizer Corporate Class ETF	1.49%	4.04%	4.86%	5.46%	0.08%
BOXX Alpha Architect 1-3 Month Box ETF	1.59%	4.37%	5.16%	5.04%	0.07%

Correlation

The correlation between HSUV-U.TO and BOXX is 0.08, 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	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Dec 29, 2022	0.09

Return for Risk

HSUV-U.TO vs. BOXX — Risk / Return Rank

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

HSUV-U.TO

HSUV-U.TO Risk / Return Rank: 95
HSUV-U.TO Sharpe Ratio Rank: 92
HSUV-U.TO Sortino Ratio Rank: 94
HSUV-U.TO Omega Ratio Rank: 96
HSUV-U.TO Calmar Ratio Rank: 97
HSUV-U.TO Martin Ratio Rank: 96

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) 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.

HSUV-U.TO vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO) 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.

	HSUV-U.TO	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	3.25	12.81	-9.56
Sortino ratio: Return per unit of downside risk	4.90	37.95	-33.05
Omega ratio: Gain probability vs. loss probability	1.76	9.96	-8.20
Calmar ratio: Return relative to maximum drawdown	10.98	59.63	-48.65
Martin ratio: Return relative to average drawdown	35.36	530.59	-495.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HSUV-U.TO vs. BOXX - Sharpe Ratio Comparison

The current HSUV-U.TO Sharpe Ratio is 3.25, which is lower than the BOXX Sharpe Ratio of 12.81. The chart below compares the historical Sharpe Ratios of HSUV-U.TO 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.

Sharpe Ratios by Period

	HSUV-U.TO	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.25	12.81	-9.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.47	12.91	-9.44

Drawdowns

HSUV-U.TO vs. BOXX - Drawdown Comparison

The maximum HSUV-U.TO drawdown since its inception was -0.52%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for HSUV-U.TO and BOXX.

Drawdown Indicators

	HSUV-U.TO	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.52%	-0.12%	-0.40%
Max Drawdown (1Y) Largest decline over 1 year	-0.34%	-0.07%	-0.27%
Max Drawdown (3Y) Largest decline over 3 years	-0.52%	-0.12%	-0.40%
Max Drawdown (5Y) Largest decline over 5 years	-0.52%	—	—
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.00%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.11%	0.01%	+0.10%

Volatility

HSUV-U.TO vs. BOXX - Volatility Comparison

Global X USD Cash Maximizer Corporate Class ETF (HSUV-U.TO) has a higher volatility of 0.48% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.09%. This indicates that HSUV-U.TO'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

	HSUV-U.TO	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	0.09%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	0.89%	0.25%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	1.16%	0.32%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.96%	0.37%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.88%	0.37%	+0.51%

HSUV-U.TO vs. BOXX - Expense Ratio Comparison

HSUV-U.TO has a 0.18% expense ratio, which is lower than BOXX's 0.19% 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%.

Dividends

HSUV-U.TO vs. BOXX - Dividend Comparison

Neither HSUV-U.TO 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%
HSUV-U.TO Global X USD Cash Maximizer Corporate Class ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HSUV-U.TO and BOXX in my portfolio?

HSUV-U.TO and BOXX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HSUV-U.TO or BOXX?

On fees, HSUV-U.TO is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HSUV-U.TO or BOXX?

HSUV-U.TO is cheaper with a 0.18% expense ratio, compared with 0.19% for BOXX.

What is the main difference between HSUV-U.TO and BOXX?

HSUV-U.TO is categorized as Money Market, while BOXX is Ultrashort Bond. They also come from different issuers: Global X and Alpha Architect. Their fees differ too: 0.18% for HSUV-U.TO and 0.19% for BOXX.