Data as of Oct 28, 2026.

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BOXX vs GARP: Differences, Returns & Fees

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BOXX is an actively managed short-term fund and GARP an equity index fund, and over the year to Oct 28, 2026, GARP returned +18.0% against +4.0%.

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Net assets: $14.5bn on Oct 28, 2026 for Alpha Architect 1-3 Month Box ETF, and $3.6bn on Oct 27, 2026 for iShares MSCI USA Quality GARP ETF.

At a glance
+4.0%
BOXX total return, 1 year
+18.0%
GARP total return, 1 year
0.19%
BOXX expense ratio
0.15%
GARP expense ratio

Pair scorecard

GARP costs 0.04 points a year less; their one-year returns differ by 14.0 points; BOXX is 4.1 times larger.

BOXX vs GARP: Differences, Returns & Fees
MeasureBOXXGARP
Return
Total return, 1 year+4.0%+18.0%
Drawdown
Below its high7.0%, high on Oct 6, 2026
Benchmark
What it tracksNo index, actively managedMSCI USA Quality GARP Select Index
Cost and size
Expense ratio0.19%0.15%
Net assets, as of Oct 26, 2026$14.4bn$3.5bn
Holdings
Holdings in commonnot published
In the S&P 500, by weight94%
Top ten holdings, share of the fund43.5%

Method

Risk and return

Jan 6, 2023 to Oct 23, 2026 · 198 weekly returns
BOXX GARP
Return
Total return edge GARP +18.9% +176.2%
Annualized edge GARP +4.6% +30.6%
Price return edge GARP +18.6% +171.3%
Risk
Volatility edge BOXX 0.2% 19.3%
Max drawdown edge BOXX −0.1% −22.9%
Risk-adjusted
Sharpe edge GARP −0.25 1.24
Sortino edge GARP −0.35 1.98
Calmar Not measured 1.34
Reading

GARP returned more: +176.2% to +18.9%. BOXX swung less: 0.2% to 19.3%. BOXX fell less at its worst: −0.1% to −22.9%.

Full scorecard

9 measures, with how each is measured
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Risk and return: BOXX vs GARP: Differences, Returns & Fees
MeasureBOXXGARPEdgeHow it is measured
Return
Total return+18.9%+176.2%GARPPrice change plus distributions, reinvested.
Annualized+4.6%+30.6%GARPTotal return as a yearly rate.
Price return+18.6%+171.3%GARPPrice change alone, distributions left out.
Risk
Volatility0.2%19.3%BOXXSpread of weekly returns, annualized. Lower is steadier.
Downside deviation0.2%12.2%BOXXLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−0.1%−22.9%BOXXDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe−0.251.24GARPReturn above Treasury bills per unit of volatility.
Sortino−0.351.98GARPReturn above Treasury bills per unit of downside deviation.
CalmarNot measured1.34Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 198 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

BOXX Alpha Architect 1-3 Month Box ETF GARP iShares MSCI USA Quality GARP ETF
Where it sits Bond ETF Stock ETF
What it is Actively managed Tracks the MSCI USA Quality GARP
Total return, 1 year +4.0% +18.0%
Its benchmark over the same days not measured +13.3% (PBUS)
Gap to its benchmark not measured +4.7 pts vs PBUS
Expense ratio 0.19% 0.15%
Holdings not counted 131
Net assets, BOXX as of Oct 28, 2026 and GARP as of Oct 27, 2026 $14.5bn $3.6bn

BOXX and GARP on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-79E37157E8

BOXX and GARP do different jobs. What does each one do in a portfolio?

  1. What each follows. BOXX follows No index, actively managed and GARP follows MSCI USA Quality GARP Select Index.
  2. One-year total return. Over 1 year to Oct 28, 2026 BOXX returned +4.0% and GARP +18.0% with distributions reinvested, a gap of 14.0 points.
  3. Size. BOXX has $14.4bn in net assets and GARP $3.5bn (net assets, as of Oct 26, 2026); BOXX is 4.1 times larger.

Data as of Oct 28, 2026.

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About each fund
BOXX

BOXX is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +4.0% with distributions reinvested. The prospectus expense ratio is 0.19% a year.

GARP

GARP tracks the MSCI USA Quality GARP. Over the year to Oct 28, 2026 it returned +18.0% with distributions reinvested, against +13.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 43.5%. It sat 7.0% below its high of Oct 6, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, BOXX or GARP?
In the year to Oct 28, 2026, with distributions reinvested, BOXX returned +4.0% and GARP +18.0%.
Which is cheaper, BOXX or GARP?
GARP is cheaper, by 0.04 percentage points a year. That is about $4 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, BOXX against GARP, data as of Oct 28, 2026. https://etfiq.com/compare/any/boxx-vs-garp

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