MARA vs. BOXX

Last updated Jun 4, 2026

MARA (Marathon Digital Holdings, 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, MARA returned 11.65%/yr vs 4.75%/yr for BOXX. At a 0.03 correlation, their price movements are largely independent.

Performance

MARA vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Marathon Digital Holdings, Inc. (MARA) 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, MARA achieves a 55.46% return, which is significantly higher than BOXX's 1.58% return.

MARA

• 1D: -2.24%
• 1M: 18.01%
• YTD: 55.46%
• 6M: 11.95%
• 1Y: -8.94%
• 3Y*: 11.65%
• 5Y*: -10.53%
• 10Y*: -10.91%

BOXX

• 1D: 0.00%
• 1M: 0.28%
• YTD: 1.58%
• 6M: 1.97%
• 1Y: 4.10%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —

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

MARA vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MARA Marathon Digital Holdings, Inc.	55.46%	-46.45%	-28.61%	586.84%	8.74%
BOXX Alpha Architect 1-3 Month Box ETF	1.58%	4.37%	5.16%	5.04%	0.07%

Correlation

The correlation between MARA 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	0.04
Correlation (All Time) Calculated using the full available price history since Dec 29, 2022	0.03

Return for Risk

MARA vs. BOXX — Risk / Return Rank

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

MARA

MARA Risk / Return Rank: 37
MARA Sharpe Ratio Rank: 36
MARA Sortino Ratio Rank: 39
MARA Omega Ratio Rank: 38
MARA Calmar Ratio Rank: 36
MARA Martin Ratio Rank: 36

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.

MARA vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Marathon Digital Holdings, Inc. (MARA) 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.

	MARA	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	-0.12	12.84	-12.96
Sortino ratio: Return per unit of downside risk	0.39	38.04	-37.64
Omega ratio: Gain probability vs. loss probability	1.05	9.98	-8.93
Calmar ratio: Return relative to maximum drawdown	-0.13	59.77	-59.90
Martin ratio: Return relative to average drawdown	-0.21	531.84	-532.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MARA vs. BOXX - Sharpe Ratio Comparison

The current MARA Sharpe Ratio is -0.12, which is lower than the BOXX Sharpe Ratio of 12.84. The chart below compares the historical Sharpe Ratios of MARA 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

	MARA	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	12.84	-12.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.09	12.91	-13.00

Drawdowns

MARA vs. BOXX - Drawdown Comparison

The maximum MARA drawdown since its inception was -99.74%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for MARA and BOXX.

Drawdown Indicators

	MARA	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-99.74%	-0.12%	-99.62%
Max Drawdown (1Y) Largest decline over 1 year	-70.53%	-0.07%	-70.46%
Max Drawdown (3Y) Largest decline over 3 years	-78.34%	-0.12%	-78.22%
Max Drawdown (5Y) Largest decline over 5 years	-95.87%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-99.20%	—	—
Current Drawdown Current decline from peak	-90.98%	0.00%	-90.98%
Average Drawdown Average peak-to-trough decline	-78.00%	-0.00%	-78.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	42.03%	0.01%	+42.02%

Volatility

MARA vs. BOXX - Volatility Comparison

Marathon Digital Holdings, Inc. (MARA) has a higher volatility of 16.33% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.09%. This indicates that MARA'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

	MARA	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.33%	0.09%	+16.24%
Volatility (6M) Calculated over the trailing 6-month period	58.00%	0.25%	+57.75%
Volatility (1Y) Calculated over the trailing 1-year period	77.65%	0.32%	+77.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	105.79%	0.37%	+105.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	144.06%	0.37%	+143.69%

Dividends

MARA vs. BOXX - Dividend Comparison

Neither MARA 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%
MARA Marathon Digital Holdings, Inc.	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MARA and BOXX in my portfolio?

MARA 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.

Which is riskier, MARA or BOXX?

MARA has higher volatility (16.33%) compared to BOXX (0.09%). In terms of maximum drawdown, MARA dropped -99.74% vs BOXX's -0.12%.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.84 vs -0.12), 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.