PJFV vs. BOXX

Last updated Jun 24, 2026

PJFV (PGIM Jennison Focused Value ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - PJFV is a Large Cap Value Equities fund actively managed by PGIM, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. PJFV is actively managed, while BOXX is passively managed. Over the past 3 years, PJFV returned 24.88%/yr vs 4.70%/yr for BOXX. At a correlation of -0.03, they often move in opposite directions. PJFV charges 0.75%/yr vs 0.19%/yr for BOXX.

Performance

PJFV vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Value ETF (PJFV) 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, PJFV achieves a 16.89% return, which is significantly higher than BOXX's 1.70% return.

PJFV

• 1D: -0.95%
• 1M: 3.08%
• YTD: 16.89%
• 6M: 16.25%
• 1Y: 34.17%
• 3Y*: 24.88%
• 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)

PJFV vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PJFV PGIM Jennison Focused Value ETF	16.89%	18.65%	24.13%	18.52%	0.05%
BOXX Alpha Architect 1-3 Month Box ETF	1.70%	4.37%	5.16%	5.04%	0.07%

Correlation

The correlation between PJFV and BOXX is -0.07, 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 (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Dec 28, 2022	-0.03

Return for Risk

PJFV vs. BOXX — Risk / Return Rank

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

PJFV

PJFV Risk / Return Rank: 88
PJFV Sharpe Ratio Rank: 88
PJFV Sortino Ratio Rank: 88
PJFV Omega Ratio Rank: 86
PJFV Calmar Ratio Rank: 87
PJFV Martin Ratio Rank: 91

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.

PJFV vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Value ETF (PJFV) 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.

	PJFV	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	2.69	12.43	-9.74
Sortino ratio: Return per unit of downside risk	3.69	35.10	-31.41
Omega ratio: Gain probability vs. loss probability	1.48	8.71	-7.23
Calmar ratio: Return relative to maximum drawdown	4.69	58.08	-53.39
Martin ratio: Return relative to average drawdown	19.89	496.82	-476.93

PJFV vs. BOXX - Sharpe Ratio Comparison

The current PJFV Sharpe Ratio is 2.69, which is lower than the BOXX Sharpe Ratio of 12.43. The chart below compares the historical Sharpe Ratios of PJFV 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

PJFV vs. BOXX - Drawdown Comparison

The maximum PJFV drawdown since its inception was -18.15%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for PJFV and BOXX.

Drawdown Indicators

	PJFV	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-0.12%	-18.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-0.07%	-7.24%
Max Drawdown (3Y) Largest decline over 3 years	-18.15%	-0.12%	-18.03%
Current Drawdown Current decline from peak	-0.95%	-0.02%	-0.93%
Average Drawdown Average peak-to-trough decline	-2.11%	-0.00%	-2.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	0.01%	+1.71%

Volatility

PJFV vs. BOXX - Volatility Comparison

PGIM Jennison Focused Value ETF (PJFV) has a higher volatility of 4.31% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.12%. This indicates that PJFV'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

	PJFV	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	0.12%	+4.19%
Volatility (6M) Calculated over the trailing 6-month period	10.53%	0.26%	+10.27%
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	0.32%	+12.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.18%	0.37%	+13.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.18%	0.37%	+13.81%

PJFV vs. BOXX - Expense Ratio Comparison

PJFV has a 0.75% expense ratio, which is higher than BOXX's 0.19% expense ratio.

Dividends

PJFV vs. BOXX - Dividend Comparison

PJFV's dividend yield for the trailing twelve months is around 0.59%, while BOXX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BOXX Alpha Architect 1-3 Month Box ETF	0.00%	0.00%	0.26%	0.00%	0.00%
PJFV PGIM Jennison Focused Value ETF	0.59%	0.68%	1.31%	1.20%	0.12%

Frequently Asked Questions

Can I hold both PJFV and BOXX in my portfolio?

PJFV 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, PJFV or BOXX?

PJFV has higher volatility (4.31%) compared to BOXX (0.12%). In terms of maximum drawdown, PJFV dropped -18.15% vs BOXX's -0.12%.

Which ETF is better, PJFV or BOXX?

On 3-year performance, PJFV leads with 24.88% vs 4.70% 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, PJFV or BOXX?

Over the 3-year period, PJFV has performed better with a 24.88% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJFV or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.75% for PJFV.

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

PJFV has the higher dividend yield at 0.59%, compared with 0.00% for BOXX.

What is the main difference between PJFV and BOXX?

PJFV is categorized as Large Cap Value Equities, while BOXX is Ultrashort Bond. They also come from different issuers: PGIM and Alpha Architect. Their fees differ too: 0.75% for PJFV and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.43 vs 2.69), 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.