Which returned more over the last year, BOXX or GSY?

In the year to Oct 28, 2026, with distributions reinvested, BOXX returned +4.0% and GSY +3.7%.

Which is cheaper, BOXX or GSY?

BOXX is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

BOXX vs GSY: Differences, Returns & Fees

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Over the year to Oct 28, 2026, BOXX returned +4.0% to GSY's +3.7%, and BOXX charges 0.19% to GSY's 0.22%.

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Net assets: $14.5bn on Oct 28, 2026 for Alpha Architect 1-3 Month Box ETF, and $4.0bn on Oct 27, 2026 for Invesco Ultra Short Duration ETF.

BOXX on its own →GSY on its own →

At a glance

+4.0%

BOXX total return, 1 year

+3.7%

GSY total return, 1 year

0.19%

BOXX expense ratio

0.22%

GSY expense ratio

Pair scorecard

BOXX costs 0.03 points a year less; their one-year returns differ by 0.3 points; BOXX is 3.6 times larger.

BOXX vs GSY: Differences, Returns & Fees
Measure	BOXX	GSY
Return
Measure	BOXX	GSY
Total return, 1 year	+4.0%	+3.7%
Benchmark
Measure	BOXX	GSY
What it tracks	No index, actively managed	No index, actively managed
Cost and size
Measure	BOXX	GSY
Expense ratio	0.19%	0.22%
Net assets, as of Oct 26, 2026	$14.4bn	$4.0bn
Holdings
Measure	BOXX	GSY
Holdings in common	report dates differ

Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method

Risk and return

Jan 6, 2023 to Oct 23, 2026 · 198 weekly returns

BOXX GSY

Return

Total return edge GSY +18.9% +21.2%

Annualized edge GSY +4.6% +5.2%

Price return edge BOXX +18.6% +0.9%

Risk

Volatility edge BOXX 0.2% 0.5%

Max drawdown edge BOXX −0.1% −0.1%

Risk-adjusted

Sharpe edge GSY −0.25 0.88

Sortino edge GSY −0.35 1.46

Calmar Not measured Not measured

Reading

GSY returned more: +21.2% to +18.9%. BOXX swung less: 0.2% to 0.5%. BOXX fell less at its worst: −0.1% to −0.1%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: BOXX vs GSY: Differences, Returns & Fees
Measure	BOXX	GSY	Edge	How it is measured
Return
Total return	+18.9%	+21.2%	GSY	Price change plus distributions, reinvested.
Annualized	+4.6%	+5.2%	GSY	Total return as a yearly rate.
Price return	+18.6%	+0.9%	BOXX	Price change alone, distributions left out.
Risk
Volatility	0.2%	0.5%	BOXX	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	0.2%	0.3%	BOXX	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−0.1%	−0.1%	BOXX	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.25	0.88	GSY	Return above Treasury bills per unit of volatility.
Sortino	−0.35	1.46	GSY	Return above Treasury bills per unit of downside deviation.
Calmar	Not measured	Not measured		Annualized 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 GSY Invesco Ultra Short Duration ETF

Where it sits Bond ETF Bond ETF

Issuer Alpha Architect Invesco

What it is Actively managed Actively managed

Total return, 1 year +4.0% +3.7%

Its benchmark over the same days not measured +3.7% (SPTU)

Gap to its benchmark not measured 0.0 pts vs SPTU

Expense ratio 0.19% 0.22%

Holdings not counted 417

Net assets, BOXX as of Oct 28, 2026 and GSY as of Oct 27, 2026 $14.5bn $4.0bn

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

Client brief · page 1 of 2 Report BR-FF7CAFDF26

BOXX and GSY are built for the same job. How do they differ in cost, holdings and results?

Size. BOXX has $14.4bn in net assets and GSY $4.0bn (net assets, as of Oct 26, 2026); BOXX is 3.6 times larger.
What each follows (similar). Both follow No index, actively managed.
One-year total return (similar). Over 1 year to Oct 28, 2026 BOXX returned +4.0% and GSY +3.7% with distributions reinvested, a gap of 0.3 points.

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.

GSY

GSY is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +3.7% with distributions reinvested, against +3.7% for its benchmark, the ICE BofA US Treasury Bill Index. The prospectus expense ratio is 0.22% a year.

Questions people ask

Which returned more over the last year, BOXX or GSY?: In the year to Oct 28, 2026, with distributions reinvested, BOXX returned +4.0% and GSY +3.7%.
Which is cheaper, BOXX or GSY?: BOXX is cheaper, by 0.03 percentage points a year. That is about $3 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

BOXX vs GSST BOXX vs RAVI BOXX vs VGUS BOXX vs SHV GSY vs VBIL GSY vs MINT GSY vs USFR FLOT vs GSY

Where to next

BOXX on its own →GSY on its own →Hold both: look the portfolio through →Rankings →BOXX dividend history →GSY dividend history →GSY holdings →Standards and sources →

Sources and dates

BOXX filings on SEC EDGAR ↗

BOXX prospectus with the expense ratio (SEC) ↗

Alpha Architect website ↗

GSY filings on SEC EDGAR ↗

GSY prospectus with the expense ratio (SEC) ↗

Invesco page for GSY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

Cite this pageCitation, APA and Markdown

ETFIQ, BOXX against GSY, data as of Oct 28, 2026. https://etfiq.com/compare/any/boxx-vs-gsy

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.