NBJP vs. BOXX

Last updated Jun 24, 2026

NBJP (Neuberger Berman Japan Equity ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - NBJP is a Japan Equities fund actively managed by Neuberger Berman, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. NBJP is actively managed, while BOXX is passively managed. Over the past year, NBJP returned 38.22% vs 3.98% for BOXX. At a correlation of -0.04, they often move in opposite directions. NBJP charges 0.50%/yr vs 0.19%/yr for BOXX.

Performance

NBJP vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Berman Japan Equity ETF (NBJP) 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, NBJP achieves a 19.75% return, which is significantly higher than BOXX's 1.70% return.

NBJP

• 1D: -5.02%
• 1M: 2.82%
• YTD: 19.75%
• 6M: 18.67%
• 1Y: 38.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BOXX

• 1D: -0.02%
• 1M: 0.16%
• YTD: 1.70%
• 6M: 1.82%
• 1Y: 3.98%
• 3Y*: 4.70%
• 5Y*: —
• 10Y*: —

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

NBJP vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBJP Neuberger Berman Japan Equity ETF	19.75%	30.41%	-2.65%
BOXX Alpha Architect 1-3 Month Box ETF	1.70%	4.37%	1.53%

Correlation

The correlation between NBJP and BOXX is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Sep 12, 2024	-0.04

Return for Risk

NBJP vs. BOXX — Risk / Return Rank

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

NBJP

NBJP Risk / Return Rank: 58
NBJP Sharpe Ratio Rank: 59
NBJP Sortino Ratio Rank: 57
NBJP Omega Ratio Rank: 58
NBJP Calmar Ratio Rank: 59
NBJP Martin Ratio Rank: 58

BOXX

BOXX Risk / Return Rank: 100
BOXX Sharpe Ratio Rank: 100
BOXX Sortino Ratio Rank: 99
BOXX Omega Ratio Rank: 99
BOXX Calmar Ratio Rank: 99
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.

NBJP vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Berman Japan Equity ETF (NBJP) 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.

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.

	NBJP	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	12.43	-10.62
Sortino ratio: Return per unit of downside risk	2.48	35.10	-32.62
Omega ratio: Gain probability vs. loss probability	1.33	8.71	-7.38
Calmar ratio: Return relative to maximum drawdown	2.68	58.08	-55.40
Martin ratio: Return relative to average drawdown	9.51	496.82	-487.31

NBJP vs. BOXX - Sharpe Ratio Comparison

The current NBJP Sharpe Ratio is 1.81, which is lower than the BOXX Sharpe Ratio of 12.43. The chart below compares the historical Sharpe Ratios of NBJP 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.

Drawdowns

NBJP vs. BOXX - Drawdown Comparison

The maximum NBJP drawdown since its inception was -14.34%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for NBJP and BOXX.

Drawdown Indicators

	NBJP	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	-0.12%	-14.22%
Max Drawdown (1Y) Largest decline over 1 year	-14.34%	-0.07%	-14.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.12%	—
Current Drawdown Current decline from peak	-5.02%	-0.02%	-5.00%
Average Drawdown Average peak-to-trough decline	-3.18%	-0.00%	-3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.03%	0.01%	+4.02%

Volatility

NBJP vs. BOXX - Volatility Comparison

Neuberger Berman Japan Equity ETF (NBJP) has a higher volatility of 9.10% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.12%. This indicates that NBJP'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

	NBJP	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.10%	0.12%	+8.98%
Volatility (6M) Calculated over the trailing 6-month period	18.37%	0.26%	+18.11%
Volatility (1Y) Calculated over the trailing 1-year period	21.18%	0.32%	+20.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.21%	0.37%	+19.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	0.37%	+19.84%

NBJP vs. BOXX - Expense Ratio Comparison

NBJP has a 0.50% expense ratio, which is higher than BOXX's 0.19% expense ratio.

Dividends

NBJP vs. BOXX - Dividend Comparison

NBJP's dividend yield for the trailing twelve months is around 1.91%, 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%
NBJP Neuberger Berman Japan Equity ETF	1.91%	2.29%	0.75%

Frequently Asked Questions

Can I hold both NBJP and BOXX in my portfolio?

NBJP and BOXX have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBJP or BOXX?

NBJP has higher volatility (9.10%) compared to BOXX (0.12%). In terms of maximum drawdown, NBJP dropped -14.34% vs BOXX's -0.12%.

Which ETF is better, NBJP or BOXX?

On 1-year performance, NBJP leads with 38.22% vs 3.98% for BOXX. On fees, BOXX is cheaper at 0.19% per year. On volatility, BOXX has been the lower-risk option at 0.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBJP or BOXX?

Over the 1-year period, NBJP has performed better with a 38.22% return vs 3.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBJP or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.50% for NBJP.

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

NBJP has the higher dividend yield at 1.91%, compared with 0.00% for BOXX.

What is the main difference between NBJP and BOXX?

NBJP is categorized as Japan Equities, while BOXX is Ultrashort Bond. They also come from different issuers: Neuberger Berman and Alpha Architect. Their fees differ too: 0.50% for NBJP and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.43 vs 1.81), 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.