TAXX vs. BOXX

Last updated Jun 3, 2026

TAXX (Bondbloxx IR+M Tax-Aware Short Duration ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - TAXX is a Municipal Bonds fund actively managed by BondBloxx, while BOXX is a Ultrashort Bond fund tracking the Solactive 1-3 Month US T-Bill Index. TAXX is actively managed, while BOXX is passively managed. Over the past year, TAXX returned 3.94% vs 4.09% for BOXX. At a 0.11 correlation, their price movements are largely independent. TAXX charges 0.35%/yr vs 0.19%/yr for BOXX.

Performance

TAXX vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) 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, TAXX achieves a 1.07% return, which is significantly lower than BOXX's 1.58% return.

TAXX

• 1D: -0.03%
• 1M: 0.39%
• YTD: 1.07%
• 6M: 1.62%
• 1Y: 3.94%
• 3Y*: —
• 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)

TAXX vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	1.07%	4.52%	3.51%
BOXX Alpha Architect 1-3 Month Box ETF	1.58%	4.37%	4.10%

Correlation

The correlation between TAXX and BOXX is 0.09, 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	0.09
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.11

TAXX vs. BOXX - Sectors Allocation Comparison

Sectors	TAXX	BOXX
Financial Services	0.1%	12.3%
Consumer Cyclical	0.1%	10.1%
Industrials	0.1%	8.7%
Communication Services	0.0%	10.7%
Basic Materials	-	1.9%
Consumer Defensive	-	5.4%
Energy	-	3.5%
Healthcare	-	9.8%
Real Estate	-	2.0%
Technology	-	33.1%
Utilities	-	2.5%

Return for Risk

TAXX vs. BOXX — Risk / Return Rank

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

TAXX

TAXX Risk / Return Rank: 78
TAXX Sharpe Ratio Rank: 70
TAXX Sortino Ratio Rank: 76
TAXX Omega Ratio Rank: 90
TAXX Calmar Ratio Rank: 84
TAXX Martin Ratio Rank: 72

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.

TAXX vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) 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.

	TAXX	BOXX	Difference
Sharpe ratio Return per unit of total volatility	2.34	12.79	-10.45
Sortino ratio Return per unit of downside risk	3.46	37.82	-34.36
Omega ratio Gain probability vs. loss probability	1.60	9.78	-8.19
Calmar ratio Return relative to maximum drawdown	4.53	59.53	-55.00
Martin ratio Return relative to average drawdown	13.79	529.34	-515.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TAXX vs. BOXX - Sharpe Ratio Comparison

The current TAXX Sharpe Ratio is 2.34, which is lower than the BOXX Sharpe Ratio of 12.79. The chart below compares the historical Sharpe Ratios of TAXX 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

	TAXX	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	12.79	-10.45
Sharpe Ratio (All Time) Calculated using the full available price history	2.60	12.92	-10.32

Drawdowns

TAXX vs. BOXX - Drawdown Comparison

The maximum TAXX drawdown since its inception was -0.91%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for TAXX and BOXX.

Drawdown Indicators

	TAXX	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.91%	-0.12%	-0.79%
Max Drawdown (1Y) Largest decline over 1 year	-0.88%	-0.07%	-0.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.12%	—
Current Drawdown Current decline from peak	-0.03%	0.00%	-0.03%
Average Drawdown Average peak-to-trough decline	-0.17%	-0.00%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.29%	0.01%	+0.28%

Volatility

TAXX vs. BOXX - Volatility Comparison

Bondbloxx IR+M Tax-Aware Short Duration ETF (TAXX) has a higher volatility of 0.34% compared to Alpha Architect 1-3 Month Box ETF (BOXX) at 0.09%. This indicates that TAXX'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

	TAXX	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	0.09%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	0.84%	0.25%	+0.59%
Volatility (1Y) Calculated over the trailing 1-year period	1.69%	0.32%	+1.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.59%	0.37%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.59%	0.37%	+1.22%

TAXX vs. BOXX - Expense Ratio Comparison

TAXX has a 0.35% expense ratio, which is higher than BOXX's 0.19% expense ratio.

Dividends

TAXX vs. BOXX - Dividend Comparison

TAXX's dividend yield for the trailing twelve months is around 3.50%, 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%
TAXX Bondbloxx IR+M Tax-Aware Short Duration ETF	3.50%	3.72%	2.70%

Frequently Asked Questions

Can I hold both TAXX and BOXX in my portfolio?

TAXX and BOXX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TAXX or BOXX?

TAXX has higher volatility (0.34%) compared to BOXX (0.09%). In terms of maximum drawdown, TAXX dropped -0.91% vs BOXX's -0.12%.

Which ETF is better, TAXX or BOXX?

On 1-year performance, BOXX leads with 4.09% vs 3.94% for TAXX. 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, TAXX or BOXX?

Over the 1-year period, BOXX has performed better with a 4.09% return vs 3.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TAXX or BOXX?

BOXX is cheaper with a 0.19% expense ratio, compared with 0.35% for TAXX.

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

TAXX has the higher dividend yield at 3.50%, compared with 0.00% for BOXX.

What is the main difference between TAXX and BOXX?

TAXX is categorized as Municipal Bonds, while BOXX is Ultrashort Bond. They also come from different issuers: BondBloxx and Alpha Architect. Their fees differ too: 0.35% for TAXX and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.79 vs 2.34), 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.