XONE vs. BOXX

Last updated Jun 5, 2026

XONE (BondBloxx Bloomberg One Year Target Duration US Treasury ETF) and BOXX (Alpha Architect 1-3 Month Box ETF) are both exchange-traded funds - XONE is a Government Bonds fund tracking the Bloomberg US Treasury 1 Year Target Duration Index, 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, XONE returned 4.55%/yr vs 4.75%/yr for BOXX. At a 0.16 correlation, their price movements are largely independent. XONE charges 0.03%/yr vs 0.19%/yr for BOXX.

Performance

XONE vs. BOXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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, XONE achieves a 1.16% return, which is significantly lower than BOXX's 1.59% return.

XONE

• 1D: 0.04%
• 1M: 0.23%
• YTD: 1.16%
• 6M: 1.52%
• 1Y: 3.81%
• 3Y*: 4.55%
• 5Y*: —
• 10Y*: —

BOXX

• 1D: 0.01%
• 1M: 0.29%
• YTD: 1.59%
• 6M: 1.98%
• 1Y: 4.09%
• 3Y*: 4.75%
• 5Y*: —
• 10Y*: —

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

XONE vs. BOXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	1.16%	4.41%	4.83%	4.74%	-0.02%
BOXX Alpha Architect 1-3 Month Box ETF	1.59%	4.37%	5.16%	5.04%	0.07%

Correlation

The correlation between XONE and BOXX is 0.10, 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	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (All Time) Calculated using the full available price history since Dec 29, 2022	0.16

Return for Risk

XONE vs. BOXX — Risk / Return Rank

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

XONE

XONE Risk / Return Rank: 99
XONE Sharpe Ratio Rank: 99
XONE Sortino Ratio Rank: 99
XONE Omega Ratio Rank: 99
XONE Calmar Ratio Rank: 99
XONE Martin Ratio Rank: 99

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.

XONE vs. BOXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) 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.

	XONE	BOXX	Difference
Sharpe ratio: Return per unit of total volatility	7.03	12.81	-5.78
Sortino ratio: Return per unit of downside risk	16.77	37.95	-21.18
Omega ratio: Gain probability vs. loss probability	3.55	9.96	-6.41
Calmar ratio: Return relative to maximum drawdown	23.89	59.63	-35.74
Martin ratio: Return relative to average drawdown	138.39	530.59	-392.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XONE vs. BOXX - Sharpe Ratio Comparison

The current XONE Sharpe Ratio is 7.03, which is lower than the BOXX Sharpe Ratio of 12.81. The chart below compares the historical Sharpe Ratios of XONE 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

	XONE	BOXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.03	12.81	-5.78
Sharpe Ratio (All Time) Calculated using the full available price history	4.97	12.91	-7.94

Drawdowns

XONE vs. BOXX - Drawdown Comparison

The maximum XONE drawdown since its inception was -0.40%, which is greater than BOXX's maximum drawdown of -0.12%. Use the drawdown chart below to compare losses from any high point for XONE and BOXX.

Drawdown Indicators

	XONE	BOXX	Difference
Max Drawdown Largest peak-to-trough decline	-0.40%	-0.12%	-0.28%
Max Drawdown (1Y) Largest decline over 1 year	-0.16%	-0.07%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-0.28%	-0.12%	-0.16%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.04%	-0.00%	-0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.03%	0.01%	+0.02%

Volatility

XONE vs. BOXX - Volatility Comparison

BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) and Alpha Architect 1-3 Month Box ETF (BOXX) have volatilities of 0.09% and 0.09%, 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

	XONE	BOXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.09%	0.09%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	0.34%	0.25%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	0.55%	0.32%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.86%	0.37%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.86%	0.37%	+0.49%

XONE vs. BOXX - Expense Ratio Comparison

XONE has a 0.03% 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

XONE vs. BOXX - Dividend Comparison

XONE's dividend yield for the trailing twelve months is around 4.06%, 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%
XONE BondBloxx Bloomberg One Year Target Duration US Treasury ETF	4.06%	4.33%	5.21%	4.46%	1.17%

Frequently Asked Questions

Can I hold both XONE and BOXX in my portfolio?

XONE and BOXX have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XONE or BOXX?

BOXX has higher volatility (0.09%) compared to XONE (0.09%). In terms of maximum drawdown, XONE dropped -0.40% vs BOXX's -0.12%.

Which ETF is better, XONE or BOXX?

On 3-year performance, BOXX leads with 4.75% vs 4.55% for XONE. On fees, XONE is cheaper at 0.03% 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, XONE or BOXX?

Over the 3-year period, BOXX has performed better with a 4.75% return vs 4.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XONE or BOXX?

XONE is cheaper with a 0.03% expense ratio, compared with 0.19% for BOXX.

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

XONE has the higher dividend yield at 4.06%, compared with 0.00% for BOXX.

What is the main difference between XONE and BOXX?

XONE is categorized as Government Bonds, while BOXX is Ultrashort Bond. XONE tracks Bloomberg US Treasury 1 Year Target Duration Index, while BOXX tracks Solactive 1-3 Month US T-Bill Index. They also come from different issuers: BondBloxx and Alpha Architect. Their fees differ too: 0.03% for XONE and 0.19% for BOXX.

Which has better risk-adjusted returns?

BOXX currently has the higher Sharpe Ratio (12.81 vs 7.03), 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.