MBOX vs. THY

Last updated Jun 4, 2026

MBOX (Freedom Day Dividend ETF) and THY (Agility Shares Dynamic Tactical Income ETF) are both exchange-traded funds - MBOX is a Dividend fund actively managed by EMPIRICAL FINANCE LLC, while THY is a High Yield Bonds fund actively managed by Toews Corp.. Both are actively managed. Over the past 5 years, MBOX returned 11.86%/yr vs 1.71%/yr for THY. At a 0.46 correlation, their price movements are largely independent. MBOX charges 0.39%/yr vs 1.36%/yr for THY.

Performance

MBOX vs. THY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Freedom Day Dividend ETF (MBOX) and Agility Shares Dynamic Tactical Income ETF (THY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MBOX achieves a 15.47% return, which is significantly higher than THY's 0.45% return.

MBOX

• 1D: -0.28%
• 1M: 5.07%
• YTD: 15.47%
• 6M: 14.89%
• 1Y: 23.95%
• 3Y*: 19.61%
• 5Y*: 11.86%
• 10Y*: —

THY

• 1D: -0.26%
• 1M: -0.43%
• YTD: 0.45%
• 6M: 0.64%
• 1Y: 4.31%
• 3Y*: 5.21%
• 5Y*: 1.71%
• 10Y*: —

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

MBOX vs. THY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MBOX Freedom Day Dividend ETF	15.47%	8.72%	16.39%	15.84%	-4.32%	9.48%
THY Agility Shares Dynamic Tactical Income ETF	0.45%	4.44%	5.38%	4.97%	-5.62%	-0.58%

Correlation

The correlation between MBOX and THY is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.46
Correlation (All Time) Calculated using the full available price history since May 6, 2021	0.46

The correlation between MBOX and THY has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

MBOX vs. THY - Sectors Allocation Comparison

Sectors	MBOX	THY
Financial Services	25.0%	99.9%
Technology	18.3%	-
Energy	14.1%	0.1%
Healthcare	13.4%	-
Industrials	8.2%	-
Consumer Defensive	8.0%	-
Basic Materials	3.8%	-
Real Estate	3.4%	-
Utilities	2.2%	-
Communication Services	2.0%	-
Consumer Cyclical	1.7%	-

Return for Risk

MBOX vs. THY — Risk / Return Rank

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

MBOX

MBOX Risk / Return Rank: 71
MBOX Sharpe Ratio Rank: 67
MBOX Sortino Ratio Rank: 71
MBOX Omega Ratio Rank: 65
MBOX Calmar Ratio Rank: 80
MBOX Martin Ratio Rank: 73

THY

THY Risk / Return Rank: 44
THY Sharpe Ratio Rank: 41
THY Sortino Ratio Rank: 43
THY Omega Ratio Rank: 41
THY Calmar Ratio Rank: 55
THY Martin Ratio Rank: 41

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.

MBOX vs. THY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Freedom Day Dividend ETF (MBOX) and Agility Shares Dynamic Tactical Income ETF (THY). 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.

	MBOX	THY	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.46	+0.78
Sortino ratio: Return per unit of downside risk	3.25	2.18	+1.08
Omega ratio: Gain probability vs. loss probability	1.39	1.27	+0.13
Calmar ratio: Return relative to maximum drawdown	4.19	2.70	+1.49
Martin ratio: Return relative to average drawdown	13.88	6.56	+7.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MBOX vs. THY - Sharpe Ratio Comparison

The current MBOX Sharpe Ratio is 2.24, which is higher than the THY Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of MBOX and THY, 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

	MBOX	THY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.24	1.46	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.38	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.48	+0.35

Drawdowns

MBOX vs. THY - Drawdown Comparison

The maximum MBOX drawdown since its inception was -16.42%, which is greater than THY's maximum drawdown of -8.56%. Use the drawdown chart below to compare losses from any high point for MBOX and THY.

Drawdown Indicators

	MBOX	THY	Difference
Max Drawdown Largest peak-to-trough decline	-16.42%	-8.56%	-7.86%
Max Drawdown (1Y) Largest decline over 1 year	-5.75%	-1.60%	-4.15%
Max Drawdown (3Y) Largest decline over 3 years	-16.37%	-2.74%	-13.63%
Max Drawdown (5Y) Largest decline over 5 years	-16.42%	-8.56%	-7.86%
Current Drawdown Current decline from peak	-0.28%	-0.83%	+0.55%
Average Drawdown Average peak-to-trough decline	-3.46%	-2.61%	-0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	0.66%	+1.07%

Volatility

MBOX vs. THY - Volatility Comparison

Freedom Day Dividend ETF (MBOX) has a higher volatility of 3.14% compared to Agility Shares Dynamic Tactical Income ETF (THY) at 0.93%. This indicates that MBOX's price experiences larger fluctuations and is considered to be riskier than THY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBOX	THY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	0.93%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	1.87%	+5.94%
Volatility (1Y) Calculated over the trailing 1-year period	10.76%	2.97%	+7.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	4.55%	+9.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.47%	4.48%	+9.99%

MBOX vs. THY - Expense Ratio Comparison

MBOX has a 0.39% expense ratio, which is lower than THY's 1.36% expense ratio.

Dividends

MBOX vs. THY - Dividend Comparison

MBOX's dividend yield for the trailing twelve months is around 1.89%, less than THY's 5.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MBOX Freedom Day Dividend ETF	1.89%	1.94%	1.60%	2.13%	2.87%	1.17%	0.00%
THY Agility Shares Dynamic Tactical Income ETF	5.40%	6.00%	5.09%	4.59%	2.56%	3.46%	2.53%

Frequently Asked Questions

Can I hold both MBOX and THY in my portfolio?

MBOX and THY have a correlation of 0.55, 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 THY?

MBOX has higher volatility (3.14%) compared to THY (0.93%). In terms of maximum drawdown, MBOX dropped -16.42% vs THY's -8.56%.

Which ETF is better, MBOX or THY?

On 5-year performance, MBOX leads with 11.86% vs 1.71% for THY. On fees, MBOX is cheaper at 0.39% per year. On volatility, THY has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MBOX or THY?

Over the 5-year period, MBOX has performed better with a 11.86% return vs 1.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MBOX or THY?

MBOX is cheaper with a 0.39% expense ratio, compared with 1.36% for THY.

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

THY has the higher dividend yield at 5.40%, compared with 1.89% for MBOX.

What is the main difference between MBOX and THY?

MBOX is categorized as Dividend, while THY is High Yield Bonds. They also come from different issuers: EMPIRICAL FINANCE LLC and Toews Corp.. Their fees differ too: 0.39% for MBOX and 1.36% for THY.

Which has better risk-adjusted returns?

MBOX currently has the higher Sharpe Ratio (2.24 vs 1.46), 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.