BOXX ETF — Alpha Architect BOXX ETF

Alpha Architect BOXX ETF (BOXX)

Updated October 12, 2026.

BOXX is a low-cost ETF linked to U.S. Treasury Bills (1-3 Month). its expense ratio is 0.19%. Total return is 18.8% over the past 3.8 years, 97.8 points behind SPY at 116.6%.

Alpha Architect BOXX ETF is a fixed income fund that seeks to replicate the performance of the 1-3 month U.S. Treasury Bill market using exchange-listed box spread options, investing at least 80% of its assets in these option strategies with weighted average maturities under 90 days. The fund does not currently distribute income to shareholders, though it has made special one-time distributions that may not recur regularly. With an expense ratio of 0.19%, this fund appeals to investors seeking Treasury Bill exposure through an options-based structure rather than traditional direct Treasury holdings.

BOXX performance versus SPY

Price and return data through 2026-10-12.

Total return is 18.8% over the past 3.8 years, 97.8 points behind SPY at 116.6%. Over the past year its total return — price change plus distributions reinvested — is 4.0%. Its deepest 1-year drawdown was 0.1%.

BOXX key facts

Issuer

Alpha Architect

Asset type

ETF

Asset class

Fixed Income

Inception date

12/27/2022

Expense ratio

0.19%

Distribution frequency

None

Last close

$118.55 (stale; as of 2026-10-12)

AUM

$14,377,042,944

Average volume

2481782.0

Ex-dividend date

08/13/2024

Payment date

08/14/2024

Beta

0.0009

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Alpha Architect or company page; Index: U.S. Treasury Bills (1-3 Month); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

BOXX risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.1%.

Who may consider BOXX — and who may not

BOXX may suit someone looking for low-cost broad dividend exposure. It is a weaker fit for investors who need monthly cash flow (BOXX does not currently distribute); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Compare BOXX

BOXX vs similar funds:

• BOXX vs SGOV
• BOXX vs BIL vs SGOV

Frequently asked questions

More securities from Alpha Architect.