IB01.L vs. BOXX

Last updated Apr 2, 2026

Compare and contrast key facts about iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) and Alpha Architect 1-3 Month Box ETF (BOXX).

IB01.L and BOXX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IB01.L is a passively managed fund by iShares that tracks the performance of the Bloomberg US Government TR USD. It was launched on Feb 20, 2019. BOXX is a passively managed fund by Alpha Architect that tracks the performance of the Solactive 1-3 Month US T-Bill Index. It was launched on Dec 27, 2022. Both IB01.L and BOXX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IB01.L vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) and Alpha Architect 1-3 Month Box ETF (BOXX). The values are adjusted to include any dividend payments, if applicable.

IB01.L vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)	0.86%	4.34%	5.25%	4.92%	0.10%
BOXX Alpha Architect 1-3 Month Box ETF	0.96%	4.37%	5.16%	5.04%	0.07%

Returns By Period

In the year-to-date period, IB01.L achieves a 0.86% return, which is significantly lower than BOXX's 0.96% return.

IB01.L

• 1D: 0.07%
• 1M: 0.32%
• YTD: 0.86%
• 6M: 1.89%
• 1Y: 4.12%
• 3Y*: 4.75%
• 5Y*: 3.27%
• 10Y*: —

BOXX

• 1D: -0.07%
• 1M: 0.32%
• YTD: 0.96%
• 6M: 2.05%
• 1Y: 4.22%
• 3Y*: 4.80%
• 5Y*: —
• 10Y*: —

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

IB01.L vs. BOXX - Expense Ratio Comparison

IB01.L has a 0.07% 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%.

BOXX

Alpha Architect 1-3 Month Box ETF

IB01.L

iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)

Return for Risk

IB01.L vs. BOXX — Risk / Return Rank

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

IB01.L

IB01.L Risk / Return Rank: 100
IB01.L Sharpe Ratio Rank: 100
IB01.L Sortino Ratio Rank: 100
IB01.L Omega Ratio Rank: 100
IB01.L Calmar Ratio Rank: 100
IB01.L Martin Ratio Rank: 100

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.

IB01.L vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) 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.

	IB01.L	BOXX	Difference
Sharpe ratio Return per unit of total volatility	11.48	12.86	-1.38
Sortino ratio Return per unit of downside risk	30.08	36.75	-6.66
Omega ratio Gain probability vs. loss probability	7.77	9.21	-1.44
Calmar ratio Return relative to maximum drawdown	47.46	61.54	-14.08
Martin ratio Return relative to average drawdown	455.81	571.35	-115.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IB01.L vs. BOXX - Sharpe Ratio Comparison

The current IB01.L Sharpe Ratio is 11.48, which is comparable to the BOXX Sharpe Ratio of 12.86. The chart below compares the historical Sharpe Ratios of IB01.L and BOXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IB01.L	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	11.48	12.86	-1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	8.91	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.73	12.97	-9.24

Correlation

The correlation between IB01.L and BOXX is 0.04, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IB01.L vs. BOXX - Dividend Comparison

Neither IB01.L nor BOXX has paid dividends to shareholders.

	TTM	2025	2024
IB01.L iShares USD Treasury Bond 0-1yr UCITS ETF (Acc)	0.00%	0.00%	0.00%
BOXX Alpha Architect 1-3 Month Box ETF	0.00%	0.00%	0.26%

Drawdowns

IB01.L vs. BOXX - Drawdown Comparison

The maximum IB01.L drawdown since its inception was -0.91%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for IB01.L and BOXX.

Drawdown Indicators

	IB01.L	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.91%	-0.12%	-0.79%
Max Drawdown (1Y) Largest decline over 1 year	-0.09%	-0.07%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-0.29%	—	—
Current Drawdown Current decline from peak	0.00%	-0.07%	+0.07%
Average Drawdown Average peak-to-trough decline	-0.08%	0.00%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.01%	0.01%	0.00%

Volatility

IB01.L vs. BOXX - Volatility Comparison

The current volatility for iShares USD Treasury Bond 0-1yr UCITS ETF (Acc) (IB01.L) is 0.11%, while Alpha Architect 1-3 Month Box ETF (BOXX) has a volatility of 0.15%. This indicates that IB01.L experiences smaller price fluctuations and is considered to be less risky than BOXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IB01.L	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.11%	0.15%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	0.25%	0.25%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	0.36%	0.33%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.37%	0.37%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.72%	0.37%	+0.35%