SBIL vs. BOXX

Last updated Jun 24, 2026

SBIL (Simplify Government Money Market ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - SBIL is a Money Market fund actively managed by Simplify, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. SBIL is actively managed, while BOXX is passively managed. At a 0.12 correlation, their price movements are largely independent. SBIL charges 0.15%/yr vs 0.19%/yr for BOXX.

Performance

SBIL vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Government Money Market ETF (SBIL) and Alpha Architect 1-3 Month Box ETF (BOXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SBIL having a 1.68% return and BOXX slightly higher at 1.70%.

SBIL

• 1D: 0.01%
• 1M: 0.25%
• YTD: 1.68%
• 6M: 1.75%
• 1Y: —
• 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)

SBIL vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025
SBIL Simplify Government Money Market ETF	1.68%	1.88%
BOXX Alpha Architect 1-3 Month Box ETF	1.70%	2.03%

Correlation

The correlation between SBIL and BOXX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.12

Return for Risk

SBIL vs. BOXX — Risk / Return Rank

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

SBIL

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

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.

SBIL vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Government Money Market ETF (SBIL) 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.

	SBIL	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	—	12.43	—
Sortino ratio: Return per unit of downside risk	—	35.10	—
Omega ratio: Gain probability vs. loss probability	—	8.71	—
Calmar ratio: Return relative to maximum drawdown	—	58.08	—
Martin ratio: Return relative to average drawdown	—	496.82	—

Drawdowns

SBIL vs. BOXX - Drawdown Comparison

The maximum SBIL drawdown since its inception was -0.03%, smaller than the maximum BOXX drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for SBIL and BOXX.

Drawdown Indicators

	SBIL	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.03%	-0.12%	+0.09%
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	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.01%	—

Volatility

Volatility by Period

	SBIL	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.27%	0.32%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.27%	0.37%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.27%	0.37%	-0.10%

SBIL vs. BOXX - Expense Ratio Comparison

SBIL has a 0.15% 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

SBIL vs. BOXX - Dividend Comparison

SBIL's dividend yield for the trailing twelve months is around 3.25%, 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%
SBIL Simplify Government Money Market ETF	3.25%	1.79%	0.00%

Frequently Asked Questions

Can I hold both SBIL and BOXX in my portfolio?

SBIL and BOXX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SBIL or BOXX?

On fees, SBIL is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SBIL or BOXX?

SBIL is cheaper with a 0.15% expense ratio, compared with 0.19% for BOXX.

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

SBIL has the higher dividend yield at 3.25%, compared with 0.00% for BOXX.

What is the main difference between SBIL and BOXX?

SBIL is categorized as Money Market, while BOXX is Ultrashort Bond. They also come from different issuers: Simplify and Alpha Architect. Their fees differ too: 0.15% for SBIL and 0.19% for BOXX.