SUPL vs. BOXX

Last updated Jun 3, 2026

SUPL (ProShares Supply Chain Logistics ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - SUPL is a Industrials Equities fund tracking the FactSet Supply Chain Logistics Index - Benchmark TR Net, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. Both are passively managed. Over the past 3 years, SUPL returned 11.82%/yr vs 4.75%/yr for BOXX. At a correlation of -0.03, they often move in opposite directions. SUPL charges 0.58%/yr vs 0.19%/yr for BOXX.

Performance

SUPL vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Supply Chain Logistics ETF (SUPL) 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, SUPL achieves a 18.43% return, which is significantly higher than BOXX's 1.58% return.

SUPL

• 1D: 0.07%
• 1M: 3.30%
• YTD: 18.43%
• 6M: 21.89%
• 1Y: 28.98%
• 3Y*: 11.82%
• 5Y*: —
• 10Y*: —

BOXX

• 1D: 0.01%
• 1M: 0.30%
• YTD: 1.58%
• 6M: 1.98%
• 1Y: 4.09%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —

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

SUPL vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
SUPL ProShares Supply Chain Logistics ETF	18.43%	9.25%	-2.44%	23.69%	0.44%
BOXX Alpha Architect 1-3 Month Box ETF	1.58%	4.37%	5.16%	5.04%	0.07%

Correlation

The correlation between SUPL and BOXX is -0.05, 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	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Dec 29, 2022	-0.03

SUPL vs. BOXX - Sectors Allocation Comparison

Sectors	SUPL	BOXX
Industrials	59.7%	8.7%
Energy	4.6%	3.5%
Healthcare	3.4%	9.8%
Utilities	3.3%	2.5%
Technology	1.4%	33.1%
Basic Materials	-	1.9%
Communication Services	-	10.7%
Consumer Cyclical	-	10.1%
Consumer Defensive	-	5.4%
Financial Services	-	12.3%
Real Estate	-	2.0%

Return for Risk

SUPL vs. BOXX — Risk / Return Rank

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

SUPL

SUPL Risk / Return Rank: 53
SUPL Sharpe Ratio Rank: 52
SUPL Sortino Ratio Rank: 50
SUPL Omega Ratio Rank: 50
SUPL Calmar Ratio Rank: 59
SUPL Martin Ratio Rank: 55

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) 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.

SUPL vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Supply Chain Logistics ETF (SUPL) 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.

	SUPL	BOXX	Difference
Sharpe ratio Return per unit of total volatility	1.81	12.79	-10.98
Sortino ratio Return per unit of downside risk	2.48	37.82	-35.34
Omega ratio Gain probability vs. loss probability	1.32	9.78	-8.46
Calmar ratio Return relative to maximum drawdown	3.01	59.53	-56.53
Martin ratio Return relative to average drawdown	9.56	529.34	-519.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SUPL vs. BOXX - Sharpe Ratio Comparison

The current SUPL Sharpe Ratio is 1.81, which is lower than the BOXX Sharpe Ratio of 12.79. The chart below compares the historical Sharpe Ratios of SUPL 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.

Sharpe Ratios by Period

	SUPL	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.81	12.79	-10.98
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	12.92	-12.52

Drawdowns

SUPL vs. BOXX - Drawdown Comparison

The maximum SUPL drawdown since its inception was -24.42%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for SUPL and BOXX.

Drawdown Indicators

	SUPL	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-24.42%	-0.12%	-24.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.76%	-0.07%	-9.69%
Max Drawdown (3Y) Largest decline over 3 years	-21.71%	-0.12%	-21.59%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.97%	-0.00%	-5.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	0.01%	+3.06%

Volatility

SUPL vs. BOXX - Volatility Comparison

ProShares Supply Chain Logistics ETF (SUPL) has a higher volatility of 6.12% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.09%. This indicates that SUPL'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

	SUPL	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	0.09%	+6.03%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	0.25%	+12.56%
Volatility (1Y) Calculated over the trailing 1-year period	16.09%	0.32%	+15.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.94%	0.37%	+18.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.94%	0.37%	+18.57%

SUPL vs. BOXX - Expense Ratio Comparison

SUPL has a 0.58% expense ratio, which is higher than BOXX's 0.19% expense ratio.

Dividends

SUPL vs. BOXX - Dividend Comparison

SUPL's dividend yield for the trailing twelve months is around 2.65%, 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%
SUPL ProShares Supply Chain Logistics ETF	2.65%	3.03%	4.78%	4.71%	3.00%

Frequently Asked Questions

Can I hold both SUPL and BOXX in my portfolio?

SUPL and BOXX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SUPL or BOXX?

SUPL has higher volatility (6.12%) compared to BOXX (0.09%). In terms of maximum drawdown, SUPL dropped -24.42% vs BOXX's -0.12%.

Which ETF is better, SUPL or BOXX?

On 3-year performance, SUPL leads with 11.82% vs 4.75% for BOXX. 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, SUPL or BOXX?

Over the 3-year period, SUPL has performed better with a 11.82% return vs 4.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SUPL or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.58% for SUPL.

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

SUPL has the higher dividend yield at 2.65%, compared with 0.00% for BOXX.

What is the main difference between SUPL and BOXX?

SUPL is categorized as Industrials Equities, while BOXX is Ultrashort Bond. SUPL tracks FactSet Supply Chain Logistics Index - Benchmark TR Net, while BOXX tracks Solactive 1-3 Month US T-Bill Index. They also come from different issuers: ProShares and Alpha Architect. Their fees differ too: 0.58% for SUPL and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.79 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.