MBOX vs. MGMT

Last updated Aug 2, 2026

MBOX (Freedom Day Dividend ETF) and MGMT (Ballast Small/Mid Cap ETF) are both exchange-traded funds - MBOX is a Dividend fund actively managed by Freedom Day, while MGMT is a Mid Cap Blend Equities fund actively managed by Ballast. Both are actively managed. Over the past 5 years, MBOX returned 12.70%/yr vs 7.58%/yr for MGMT. Their 0.80 correlation means they have sometimes moved together and sometimes differently. MBOX charges 0.39%/yr vs 1.10%/yr for MGMT.

Performance

MBOX vs. MGMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Freedom Day Dividend ETF (MBOX) and Ballast Small/Mid Cap ETF (MGMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBOX achieves a 20.13% return, which is significantly higher than MGMT's 14.50% return.

MBOX

• 1D: 0.11%
• 1M: 3.85%
• 6M: 14.65%
• YTD: 20.13%
• 1Y: 27.96%
• 3Y*: 17.69%
• 5Y*: 12.70%
• 10Y*: —
• ALL TIME*: 12.53%

MGMT

• 1D: 0.97%
• 1M: 1.76%
• 6M: 7.02%
• YTD: 14.50%
• 1Y: 27.64%
• 3Y*: 12.00%
• 5Y*: 7.58%
• 10Y*: —
• ALL TIME*: 13.72%

*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)
MBOX Freedom Day Dividend ETF	$299.35K	$251.30K	$182.78K
MGMT Ballast Small/Mid Cap ETF	$435.05K	$549.29K	$510.44K

MBOX vs. MGMT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MBOX Freedom Day Dividend ETF	20.13%	8.72%	16.39%	15.84%	-4.32%	10.13%
MGMT Ballast Small/Mid Cap ETF	14.50%	6.96%	12.95%	17.87%	-14.54%	6.60%

Correlation

The correlation between MBOX and MGMT is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since May 5, 2021	0.80

The correlation between MBOX and MGMT has been stable across timeframes, ranging from 0.73 to 0.80 - a consistent structural relationship.

MBOX vs. MGMT - Sectors Allocation Comparison

Sectors	MBOX	MGMT
Financial Services	27.6%	12.5%
Technology	19.9%	16.6%
Energy	13.9%	12.5%
Healthcare	10.7%	6.1%
Industrials	9.3%	23.7%
Communication Services	5.7%	3.4%
Real Estate	4.8%	1.7%
Consumer Defensive	3.8%	3.3%
Basic Materials	3.4%	11.5%
Utilities	2.4%	-
Consumer Cyclical	1.8%	8.8%

Return for Risk

MBOX vs. MGMT — Risk / Return Rank

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

MBOX

MBOX Risk / Return Rank: 93
MBOX Sharpe Ratio Rank: 93
MBOX Sortino Ratio Rank: 94
MBOX Omega Ratio Rank: 92
MBOX Calmar Ratio Rank: 94
MBOX Martin Ratio Rank: 92

MGMT

MGMT Risk / Return Rank: 59
MGMT Sharpe Ratio Rank: 63
MGMT Sortino Ratio Rank: 66
MGMT Omega Ratio Rank: 57
MGMT Calmar Ratio Rank: 58
MGMT Martin Ratio Rank: 53

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.

MBOX vs. MGMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Freedom Day Dividend ETF (MBOX) and Ballast Small/Mid Cap ETF (MGMT). 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.

	MBOX	MGMT	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.47	+1.07
Sortino ratio: Return per unit of downside risk	3.72	2.19	+1.53
Omega ratio: Gain probability vs. loss probability	1.45	1.25	+0.19
Calmar ratio: Return relative to maximum drawdown	4.71	2.05	+2.66
Martin ratio: Return relative to average drawdown	16.03	6.25	+9.78

MBOX vs. MGMT - Sharpe Ratio Comparison

The current MBOX Sharpe Ratio is 2.54, which is higher than the MGMT Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of MBOX and MGMT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MBOX vs. MGMT - Drawdown Comparison

The maximum MBOX drawdown since its inception was -16.42%, smaller than the maximum MGMT drawdown of -24.95%. Use the drawdown chart below to compare losses from any high point for MBOX and MGMT.

Drawdown Indicators

	MBOX	MGMT	Difference
Max Drawdown Largest peak-to-trough decline	-16.42%	-24.95%	+8.53%
Max Drawdown (1Y) Largest decline over 1 year	-5.75%	-12.32%	+6.57%
Max Drawdown (3Y) Largest decline over 3 years	-16.37%	-23.76%	+7.39%
Max Drawdown (5Y) Largest decline over 5 years	-16.42%	-24.95%	+8.53%
Current Drawdown Current decline from peak	-1.14%	-0.78%	-0.36%
Average Drawdown Average peak-to-trough decline	-3.37%	-6.58%	+3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	4.03%	-2.34%

Volatility

MBOX vs. MGMT - Volatility Comparison

The current volatility for Freedom Day Dividend ETF (MBOX) is 2.42%, while Ballast Small/Mid Cap ETF (MGMT) has a volatility of 3.66%. This indicates that MBOX experiences smaller price fluctuations and is considered to be less risky than MGMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBOX	MGMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	3.66%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	7.55%	11.47%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	10.75%	17.17%	-6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.47%	19.44%	-4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.33%	19.44%	-5.11%

MBOX vs. MGMT - Expense Ratio Comparison

MBOX has a 0.39% expense ratio, which is lower than MGMT's 1.10% expense ratio.

Dividends

MBOX vs. MGMT - Dividend Comparison

MBOX's dividend yield for the trailing twelve months is around 1.85%, more than MGMT's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021
MBOX Freedom Day Dividend ETF	1.85%	1.94%	1.60%	2.13%	2.87%	1.17%
MGMT Ballast Small/Mid Cap ETF	0.30%	0.34%	0.51%	1.16%	0.90%	0.26%

Frequently Asked Questions

Can I hold both MBOX and MGMT in my portfolio?

MBOX and MGMT have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MBOX or MGMT?

MGMT has higher volatility (3.66%) compared to MBOX (2.42%). In terms of maximum drawdown, MBOX dropped -16.42% vs MGMT's -24.95%.

Which ETF is better, MBOX or MGMT?

On 5-year performance, MBOX leads with 12.70% vs 7.58% for MGMT. On fees, MBOX is cheaper at 0.39% per year. On volatility, MBOX has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBOX or MGMT?

Over the 5-year period, MBOX has performed better with a 12.70% return vs 7.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBOX or MGMT?

MBOX is cheaper with a 0.39% expense ratio, compared with 1.10% for MGMT.

Which ETF pays a higher dividend yield, MBOX or MGMT?

MBOX has the higher dividend yield at 1.85%, compared with 0.30% for MGMT.

What is the main difference between MBOX and MGMT?

MBOX is categorized as Dividend, while MGMT is Mid Cap Blend Equities. They also come from different issuers: Freedom Day and Ballast. Their fees differ too: 0.39% for MBOX and 1.10% for MGMT.

Which has better risk-adjusted returns?

MBOX currently has the higher Sharpe Ratio (2.54 vs 1.47), 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.