TPSC vs. MBOX

Last updated Jun 23, 2026

TPSC (Timothy Plan US Small Cap Core ETF) and MBOX (Freedom Day Dividend ETF) are both exchange-traded funds - TPSC is a Small Cap Blend Equities fund tracking the Victory U.S. Small Cap Volatility Weighted BRI, while MBOX is a Dividend fund actively managed by EMPIRICAL FINANCE LLC. TPSC is passively managed, while MBOX is actively managed. Over the past 5 years, TPSC returned 8.23%/yr vs 12.29%/yr for MBOX. Their correlation of 0.83 suggests significant overlap in exposure. TPSC charges 0.52%/yr vs 0.39%/yr for MBOX.

Performance

TPSC vs. MBOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Timothy Plan US Small Cap Core ETF (TPSC) and Freedom Day Dividend ETF (MBOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TPSC achieves a 13.07% return, which is significantly lower than MBOX's 15.24% return.

TPSC

• 1D: 0.23%
• 1M: 3.33%
• YTD: 13.07%
• 6M: 10.64%
• 1Y: 25.26%
• 3Y*: 16.15%
• 5Y*: 8.23%
• 10Y*: —

MBOX

• 1D: 0.48%
• 1M: 1.01%
• YTD: 15.24%
• 6M: 14.33%
• 1Y: 23.19%
• 3Y*: 19.11%
• 5Y*: 12.29%
• 10Y*: —

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

TPSC vs. MBOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TPSC Timothy Plan US Small Cap Core ETF	13.07%	7.34%	11.50%	17.64%	-13.46%	7.38%
MBOX Freedom Day Dividend ETF	15.24%	8.72%	16.39%	15.84%	-4.32%	10.13%

Correlation

The correlation between TPSC and MBOX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 5, 2021	0.83

The correlation between TPSC and MBOX has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

TPSC vs. MBOX - Sectors Allocation Comparison

Sectors	TPSC	MBOX
Financial Services	23.9%	25.2%
Industrials	18.6%	7.8%
Consumer Cyclical	13.7%	1.4%
Technology	13.0%	24.6%
Healthcare	7.2%	10.5%
Utilities	6.6%	2.1%
Energy	5.4%	13.3%
Basic Materials	5.3%	3.4%
Consumer Defensive	5.0%	3.7%
Real Estate	0.7%	4.2%
Communication Services	0.6%	3.6%

Return for Risk

TPSC vs. MBOX — Risk / Return Rank

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

TPSC

TPSC Risk / Return Rank: 52
TPSC Sharpe Ratio Rank: 48
TPSC Sortino Ratio Rank: 51
TPSC Omega Ratio Rank: 45
TPSC Calmar Ratio Rank: 59
TPSC Martin Ratio Rank: 55

MBOX

MBOX Risk / Return Rank: 72
MBOX Sharpe Ratio Rank: 68
MBOX Sortino Ratio Rank: 72
MBOX Omega Ratio Rank: 64
MBOX Calmar Ratio Rank: 80
MBOX Martin Ratio Rank: 73

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.

TPSC vs. MBOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Timothy Plan US Small Cap Core ETF (TPSC) and Freedom Day Dividend ETF (MBOX). 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.

	TPSC	MBOX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.14	-0.53
Sortino ratio: Return per unit of downside risk	2.43	3.12	-0.69
Omega ratio: Gain probability vs. loss probability	1.28	1.37	-0.09
Calmar ratio: Return relative to maximum drawdown	2.84	4.05	-1.22
Martin ratio: Return relative to average drawdown	9.27	13.34	-4.07

TPSC vs. MBOX - Sharpe Ratio Comparison

The current TPSC Sharpe Ratio is 1.61, which is comparable to the MBOX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of TPSC and MBOX, 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

TPSC vs. MBOX - Drawdown Comparison

The maximum TPSC drawdown since its inception was -41.79%, which is greater than MBOX's maximum drawdown of -16.42%. Use the drawdown chart below to compare losses from any high point for TPSC and MBOX.

Drawdown Indicators

	TPSC	MBOX	Difference
Max Drawdown Largest peak-to-trough decline	-41.79%	-16.42%	-25.37%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-5.75%	-3.20%
Max Drawdown (3Y) Largest decline over 3 years	-23.44%	-16.37%	-7.07%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-16.42%	-7.21%
Current Drawdown Current decline from peak	-0.13%	-1.21%	+1.08%
Average Drawdown Average peak-to-trough decline	-8.37%	-3.43%	-4.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.74%	+0.99%

Volatility

TPSC vs. MBOX - Volatility Comparison

Timothy Plan US Small Cap Core ETF (TPSC) and Freedom Day Dividend ETF (MBOX) have volatilities of 3.43% and 3.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TPSC	MBOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	3.41%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.65%	7.95%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	10.93%	+4.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.86%	14.50%	+5.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.40%	14.44%	+9.96%

TPSC vs. MBOX - Expense Ratio Comparison

TPSC has a 0.52% expense ratio, which is higher than MBOX's 0.39% expense ratio.

Dividends

TPSC vs. MBOX - Dividend Comparison

TPSC's dividend yield for the trailing twelve months is around 1.02%, less than MBOX's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
MBOX Freedom Day Dividend ETF	1.90%	1.94%	1.60%	2.13%	2.87%	1.17%	0.00%	0.00%
TPSC Timothy Plan US Small Cap Core ETF	1.02%	1.07%	0.97%	1.06%	1.07%	1.12%	1.13%	0.07%

Frequently Asked Questions

Can I hold both TPSC and MBOX in my portfolio?

TPSC and MBOX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPSC or MBOX?

TPSC has higher volatility (3.43%) compared to MBOX (3.41%). In terms of maximum drawdown, TPSC dropped -41.79% vs MBOX's -16.42%.

Which ETF is better, TPSC or MBOX?

On 5-year performance, MBOX leads with 12.29% vs 8.23% for TPSC. On fees, MBOX is cheaper at 0.39% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPSC or MBOX?

Over the 5-year period, MBOX has performed better with a 12.29% return vs 8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPSC or MBOX?

MBOX is cheaper with a 0.39% expense ratio, compared with 0.52% for TPSC.

Which ETF pays a higher dividend yield, TPSC or MBOX?

MBOX has the higher dividend yield at 1.90%, compared with 1.02% for TPSC.

What is the main difference between TPSC and MBOX?

TPSC is categorized as Small Cap Blend Equities, while MBOX is Dividend. They also come from different issuers: Timothy Plan and EMPIRICAL FINANCE LLC. Their fees differ too: 0.52% for TPSC and 0.39% for MBOX.

Which has better risk-adjusted returns?

MBOX currently has the higher Sharpe Ratio (2.14 vs 1.61), 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.