NIXT vs. BOXX

Last updated Aug 2, 2026

NIXT (Research Affiliates Deletions ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - NIXT is a Mid Cap Value Equities fund tracking the Research Affiliates Deletions Index, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. Both are passively managed. Over the past year, NIXT returned 38.98% vs 4.08% for BOXX. Their 0.07 correlation means their historical movements had little consistent relationship. NIXT charges 0.09%/yr vs 0.19%/yr for BOXX.

Performance

NIXT vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Research Affiliates Deletions ETF (NIXT) 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, NIXT achieves a 26.32% return, which is significantly higher than BOXX's 2.26% return.

NIXT

• 1D: -1.21%
• 1M: 0.57%
• 6M: 22.44%
• YTD: 26.32%
• 1Y: 38.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.91%

BOXX

• 1D: 0.06%
• 1M: 0.41%
• 6M: 1.95%
• YTD: 2.26%
• 1Y: 4.08%
• 3Y*: 4.73%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.71%

*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)
BOXX Alpha Architect 1-3 Month Box ETF	$253.32M	$264.36M	$274.97M
NIXT Research Affiliates Deletions ETF	$59.15K	$60.52K	$64.01K

NIXT vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NIXT Research Affiliates Deletions ETF	26.32%	4.94%	4.60%
BOXX Alpha Architect 1-3 Month Box ETF	2.26%	4.37%	1.56%

Correlation

The correlation between NIXT and BOXX is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.07
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024	0.07

Return for Risk

NIXT vs. BOXX — Risk / Return Rank

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

NIXT

NIXT Risk / Return Rank: 78
NIXT Sharpe Ratio Rank: 76
NIXT Sortino Ratio Rank: 78
NIXT Omega Ratio Rank: 69
NIXT Calmar Ratio Rank: 83
NIXT Martin Ratio Rank: 85

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) 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.

NIXT vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Research Affiliates Deletions ETF (NIXT) 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.

	NIXT	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	12.44	-10.71
Sortino ratio: Return per unit of downside risk	2.52	36.42	-33.90
Omega ratio: Gain probability vs. loss probability	1.29	8.74	-7.45
Calmar ratio: Return relative to maximum drawdown	3.08	60.17	-57.09
Martin ratio: Return relative to average drawdown	12.03	505.74	-493.71

NIXT vs. BOXX - Sharpe Ratio Comparison

The current NIXT Sharpe Ratio is 1.73, which is lower than the BOXX Sharpe Ratio of 12.44. The chart below compares the historical Sharpe Ratios of NIXT 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

NIXT vs. BOXX - Drawdown Comparison

The maximum NIXT drawdown since its inception was -27.75%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for NIXT and BOXX.

Drawdown Indicators

	NIXT	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-27.75%	-0.12%	-27.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.71%	-0.07%	-11.64%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.12%	—
Current Drawdown Current decline from peak	-2.04%	0.00%	-2.04%
Average Drawdown Average peak-to-trough decline	-5.56%	0.00%	-5.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	0.01%	+2.99%

Volatility

NIXT vs. BOXX - Volatility Comparison

Research Affiliates Deletions ETF (NIXT) has a higher volatility of 5.29% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.09%. This indicates that NIXT'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

	NIXT	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	0.09%	+5.20%
Volatility (6M) Calculated over the trailing 6-month period	14.60%	0.27%	+14.33%
Volatility (1Y) Calculated over the trailing 1-year period	20.94%	0.33%	+20.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.97%	0.37%	+22.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.97%	0.37%	+22.60%

NIXT vs. BOXX - Expense Ratio Comparison

NIXT has a 0.09% expense ratio, which is lower than BOXX's 0.19% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

NIXT vs. BOXX - Dividend Comparison

NIXT's dividend yield for the trailing twelve months is around 1.30%, 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%
NIXT Research Affiliates Deletions ETF	1.30%	1.64%	1.39%

Frequently Asked Questions

Can I hold both NIXT and BOXX in my portfolio?

NIXT and BOXX have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NIXT or BOXX?

NIXT has higher volatility (5.29%) compared to BOXX (0.09%). In terms of maximum drawdown, NIXT dropped -27.75% vs BOXX's -0.12%.

Which ETF is better, NIXT or BOXX?

On 1-year performance, NIXT leads with 38.98% vs 4.08% for BOXX. On fees, NIXT is cheaper at 0.09% per year. On volatility, BOXX has been the lower-risk option at 0.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NIXT or BOXX?

Over the 1-year period, NIXT has performed better with a 38.98% return vs 4.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NIXT or BOXX?

NIXT is cheaper with a 0.09% expense ratio, compared with 0.19% for BOXX.

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

NIXT has the higher dividend yield at 1.30%, compared with 0.00% for BOXX.

What is the main difference between NIXT and BOXX?

NIXT is categorized as Mid Cap Value Equities, while BOXX is Ultrashort Bond. NIXT tracks Research Affiliates Deletions Index, while BOXX tracks Solactive 1-3 Month US T-Bill Index. Their fees differ too: 0.09% for NIXT and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.44 vs 1.73), 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.