MGMT vs. MBOX

Last updated Apr 1, 2026

Compare and contrast key facts about Ballast Small/Mid Cap ETF (MGMT) and Freedom Day Dividend ETF (MBOX).

MGMT and MBOX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MGMT is an actively managed fund by Inverdale Capital Management LLC. It was launched on Dec 2, 2020. MBOX is an actively managed fund by EMPIRICAL FINANCE LLC. It was launched on May 5, 2021.

Performance

MGMT vs. MBOX - Performance Comparison

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

MGMT vs. MBOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MGMT Ballast Small/Mid Cap ETF	1.78%	6.96%	12.95%	17.87%	-14.54%	6.94%
MBOX Freedom Day Dividend ETF	5.04%	8.72%	16.39%	15.84%	-4.32%	9.48%

Returns By Period

In the year-to-date period, MGMT achieves a 1.78% return, which is significantly lower than MBOX's 5.04% return.

MGMT

• 1D: 1.69%
• 1M: -6.24%
• YTD: 1.78%
• 6M: 2.77%
• 1Y: 17.28%
• 3Y*: 11.33%
• 5Y*: 6.53%
• 10Y*: —

MBOX

• 1D: 0.93%
• 1M: -4.03%
• YTD: 5.04%
• 6M: 4.92%
• 1Y: 12.49%
• 3Y*: 15.78%
• 5Y*: —
• 10Y*: —

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

MGMT vs. MBOX - Expense Ratio Comparison

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

MGMT

Ballast Small/Mid Cap ETF

MBOX

Freedom Day Dividend ETF

Return for Risk

MGMT vs. MBOX — Risk / Return Rank

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

MGMT

MGMT Risk / Return Rank: 46
MGMT Sharpe Ratio Rank: 43
MGMT Sortino Ratio Rank: 46
MGMT Omega Ratio Rank: 41
MGMT Calmar Ratio Rank: 52
MGMT Martin Ratio Rank: 46

MBOX

MBOX Risk / Return Rank: 47
MBOX Sharpe Ratio Rank: 44
MBOX Sortino Ratio Rank: 46
MBOX Omega Ratio Rank: 46
MBOX Calmar Ratio Rank: 44
MBOX Martin Ratio Rank: 55

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.

MGMT vs. MBOX - Risk-Adjusted Trends Comparison

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

	MGMT	MBOX	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.80	-0.01
Sortino ratio Return per unit of downside risk	1.26	1.23	+0.03
Omega ratio Gain probability vs. loss probability	1.16	1.18	-0.01
Calmar ratio Return relative to maximum drawdown	1.34	1.12	+0.22
Martin ratio Return relative to average drawdown	4.37	5.23	-0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGMT vs. MBOX - Sharpe Ratio Comparison

The current MGMT Sharpe Ratio is 0.79, which is comparable to the MBOX Sharpe Ratio of 0.80. The chart below compares the historical Sharpe Ratios of MGMT and MBOX, 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

	MGMT	MBOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.80	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.71	-0.09

Correlation

The correlation between MGMT and MBOX is 0.81, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MGMT vs. MBOX - Dividend Comparison

MGMT's dividend yield for the trailing twelve months is around 0.33%, less than MBOX's 2.08% yield.

	TTM	2025	2024	2023	2022	2021
MGMT Ballast Small/Mid Cap ETF	0.33%	0.34%	0.51%	1.16%	0.90%	0.26%
MBOX Freedom Day Dividend ETF	2.08%	1.94%	1.60%	2.13%	2.87%	1.17%

Drawdowns

MGMT vs. MBOX - Drawdown Comparison

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

Drawdown Indicators

	MGMT	MBOX	Difference
Max Drawdown Largest peak-to-trough decline	-24.95%	-16.42%	-8.53%
Max Drawdown (1Y) Largest decline over 1 year	-13.60%	-12.16%	-1.44%
Max Drawdown (5Y) Largest decline over 5 years	-24.95%	—	—
Current Drawdown Current decline from peak	-9.82%	-4.32%	-5.50%
Average Drawdown Average peak-to-trough decline	-6.81%	-3.55%	-3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	2.60%	+1.56%

Volatility

MGMT vs. MBOX - Volatility Comparison

Ballast Small/Mid Cap ETF (MGMT) has a higher volatility of 5.69% compared to Freedom Day Dividend ETF (MBOX) at 3.31%. This indicates that MGMT's price experiences larger fluctuations and is considered to be riskier than MBOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGMT	MBOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.69%	3.31%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	8.14%	+5.21%
Volatility (1Y) Calculated over the trailing 1-year period	21.89%	15.65%	+6.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.55%	14.58%	+4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	14.58%	+5.16%