MSST vs. BOXX

Last updated Jun 6, 2026

MSST (YieldMax MSTR Performance & Distribution Target 25 ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - MSST is a Derivative Income fund actively managed by YieldMax, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. MSST is actively managed, while BOXX is passively managed. At a correlation of -0.04, they often move in opposite directions. MSST charges 0.99%/yr vs 0.19%/yr for BOXX.

Performance

MSST vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax MSTR Performance & Distribution Target 25 ETF (MSST) 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, MSST achieves a -20.98% return, which is significantly lower than BOXX's 1.61% return.

MSST

• 1D: -7.10%
• 1M: -34.34%
• YTD: -20.98%
• 6M: -31.73%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOXX

• 1D: 0.02%
• 1M: 0.31%
• YTD: 1.61%
• 6M: 1.97%
• 1Y: 4.09%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —

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

MSST vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025
MSST YieldMax MSTR Performance & Distribution Target 25 ETF	-20.98%	-22.94%
BOXX Alpha Architect 1-3 Month Box ETF	1.61%	0.61%

Correlation

The correlation between MSST and BOXX is -0.04, 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 (All Time) Calculated using the full available price history since Nov 19, 2025	-0.04

Return for Risk

MSST vs. BOXX — Risk / Return Rank

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

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.

MSST vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax MSTR Performance & Distribution Target 25 ETF (MSST) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MSST	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	12.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.83	12.91	-13.74

Drawdowns

MSST vs. BOXX - Drawdown Comparison

The maximum MSST drawdown since its inception was -44.05%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for MSST and BOXX.

Drawdown Indicators

	MSST	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-44.05%	-0.12%	-43.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.07%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-0.12%	—
Current Drawdown Current decline from peak	-39.11%	0.00%	-39.11%
Average Drawdown Average peak-to-trough decline	-21.28%	-0.00%	-21.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	MSST	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	72.68%	0.32%	+72.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.68%	0.37%	+72.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.68%	0.37%	+72.31%

MSST vs. BOXX - Expense Ratio Comparison

MSST has a 0.99% expense ratio, which is higher than BOXX's 0.19% expense ratio.

Dividends

MSST vs. BOXX - Dividend Comparison

MSST's dividend yield for the trailing twelve months is around 17.99%, while BOXX has not paid dividends to shareholders.

Position	TTM	2025	2024
BOXX Alpha Architect 1-3 Month Box ETF	0.00%	0.00%	0.26%
MSST YieldMax MSTR Performance & Distribution Target 25 ETF	17.99%	2.71%	0.00%

Frequently Asked Questions

Can I hold both MSST and BOXX in my portfolio?

MSST and BOXX have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSST or BOXX?

On fees, BOXX is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSST or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.99% for MSST.

Which ETF pays a higher dividend yield, MSST or BOXX?

MSST has the higher dividend yield at 17.99%, compared with 0.00% for BOXX.

What is the main difference between MSST and BOXX?

MSST is categorized as Derivative Income, while BOXX is Ultrashort Bond. They also come from different issuers: YieldMax and Alpha Architect. Their fees differ too: 0.99% for MSST and 0.19% for BOXX.