RW vs. BOXX

Last updated Aug 1, 2026

RW (Rainwater Equity ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - RW is a Global Equities fund actively managed by Alpha Architect, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. RW is actively managed, while BOXX is passively managed. Over the past year, RW returned -2.39% vs 4.08% for BOXX. Their 0.03 correlation means their historical movements had little consistent relationship. RW charges 1.25%/yr vs 0.19%/yr for BOXX.

Performance

RW vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rainwater Equity ETF (RW) 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, RW achieves a 1.78% return, which is significantly lower than BOXX's 2.26% return.

RW

• 1D: 0.18%
• 1M: -1.46%
• 6M: 0.34%
• YTD: 1.78%
• 1Y: -2.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.19%

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
RW Rainwater Equity ETF	$44.56K	$41.45K	$44.87K

RW vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025
RW Rainwater Equity ETF	1.78%	-0.44%
BOXX Alpha Architect 1-3 Month Box ETF	2.26%	2.34%

Correlation

The correlation between RW and BOXX is -0.00, 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.	-0.00
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.03

Return for Risk

RW vs. BOXX — Risk / Return Rank

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

RW

RW Risk / Return Rank: 8
RW Sharpe Ratio Rank: 8
RW Sortino Ratio Rank: 7
RW Omega Ratio Rank: 7
RW Calmar Ratio Rank: 8
RW Martin Ratio Rank: 7

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.

RW vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rainwater Equity ETF (RW) 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.

	RW	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	-0.22	12.44	-12.66
Sortino ratio: Return per unit of downside risk	-0.21	36.42	-36.63
Omega ratio: Gain probability vs. loss probability	0.98	8.74	-7.76
Calmar ratio: Return relative to maximum drawdown	-0.21	60.17	-60.38
Martin ratio: Return relative to average drawdown	-0.59	505.74	-506.32

RW vs. BOXX - Sharpe Ratio Comparison

The current RW Sharpe Ratio is -0.22, which is lower than the BOXX Sharpe Ratio of 12.44. The chart below compares the historical Sharpe Ratios of RW 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

RW vs. BOXX - Drawdown Comparison

The maximum RW drawdown since its inception was -17.04%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for RW and BOXX.

Drawdown Indicators

	RW	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-17.04%	-0.12%	-16.92%
Max Drawdown (1Y) Largest decline over 1 year	-17.02%	-0.07%	-16.95%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.12%	—
Current Drawdown Current decline from peak	-4.34%	0.00%	-4.34%
Average Drawdown Average peak-to-trough decline	-5.07%	0.00%	-5.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	0.01%	+6.00%

Volatility

RW vs. BOXX - Volatility Comparison

Rainwater Equity ETF (RW) has a higher volatility of 3.96% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.09%. This indicates that RW'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

	RW	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	0.09%	+3.87%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	0.27%	+12.95%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	0.33%	+15.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.48%	0.37%	+15.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.48%	0.37%	+15.11%

RW vs. BOXX - Expense Ratio Comparison

RW has a 1.25% expense ratio, which is higher than BOXX's 0.19% expense ratio.

Dividends

RW vs. BOXX - Dividend Comparison

RW's dividend yield for the trailing twelve months is around 0.10%, 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%
RW Rainwater Equity ETF	0.10%	0.10%	0.00%

Frequently Asked Questions

Can I hold both RW and BOXX in my portfolio?

RW and BOXX have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RW or BOXX?

RW has higher volatility (3.96%) compared to BOXX (0.09%). In terms of maximum drawdown, RW dropped -17.04% vs BOXX's -0.12%.

Which ETF is better, RW or BOXX?

On 1-year performance, BOXX leads with 4.08% vs -2.39% for RW. On fees, BOXX is cheaper at 0.19% 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, RW or BOXX?

Over the 1-year period, BOXX has performed better with a 4.08% return vs -2.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RW or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 1.25% for RW.

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

RW has the higher dividend yield at 0.10%, compared with 0.00% for BOXX.

What is the main difference between RW and BOXX?

RW is categorized as Global Equities, while BOXX is Ultrashort Bond. Their fees differ too: 1.25% for RW and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.44 vs -0.22), 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.