Data as of Oct 28, 2026.

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BOXX vs ICSH: Differences, Returns & Fees

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Over the year to Oct 28, 2026, BOXX returned +4.0% to ICSH's +3.5%, and ICSH charges 0.08% to BOXX's 0.19%.

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Net assets on Oct 28, 2026: $14.5bn for Alpha Architect 1-3 Month Box ETF and $9.0bn for iShares Ultra Short Duration Bond Active ETF.

At a glance
+4.0%
BOXX total return, 1 year
+3.5%
ICSH total return, 1 year
0.19%
BOXX expense ratio
0.08%
ICSH expense ratio

Pair scorecard

ICSH costs 0.11 points a year less; their one-year returns differ by 0.5 points; BOXX is 1.6 times larger.

BOXX vs ICSH: Differences, Returns & Fees
MeasureBOXXICSH
Return
Total return, 1 year+4.0%+3.5%
Benchmark
What it tracksNo index, actively managedNo index, actively managed
Cost and size
Expense ratio0.19%0.08%
Net assets$14.5bn$9.0bn
Holdings
Holdings in commonreport 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 ICSH
Return
Total return edge ICSH (slight) +18.9% +20.0%
Annualized edge ICSH (slight) +4.6% +4.9%
Price return edge BOXX +18.6% +0.6%
Risk
Volatility edge BOXX 0.2% 0.4%
Max drawdown edge BOXX −0.1% −0.1%
Risk-adjusted
Sharpe edge ICSH −0.25 0.49
Sortino edge ICSH −0.35 0.71
Calmar Not measured Not measured
Reading

ICSH returned slightly more: +20.0% to +18.9%. BOXX swung less: 0.2% to 0.4%. BOXX fell less at its worst: −0.1% to −0.1%.

Full scorecard

9 measures, with how each is measured
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Risk and return: BOXX vs ICSH: Differences, Returns & Fees
MeasureBOXXICSHEdgeHow it is measured
Return
Total return+18.9%+20.0%ICSH (slight)Price change plus distributions, reinvested.
Annualized+4.6%+4.9%ICSH (slight)Total return as a yearly rate.
Price return+18.6%+0.6%BOXXPrice change alone, distributions left out.
Risk
Volatility0.2%0.4%BOXXSpread of weekly returns, annualized. Lower is steadier.
Downside deviation0.2%0.3%BOXXLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−0.1%−0.1%BOXXDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe−0.250.49ICSHReturn above Treasury bills per unit of volatility.
Sortino−0.350.71ICSHReturn above Treasury bills per unit of downside deviation.
CalmarNot measuredNot measuredAnnualized 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 ICSH iShares Ultra Short Duration Bond Active ETF
Where it sits Bond ETF Bond ETF
What it is Actively managed Actively managed
Total return, 1 year +4.0% +3.5%
Expense ratio 0.19% 0.08%
Holdings not counted 410
Net assets $14.5bn $9.0bn

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

Client brief · page 1 of 2 Report BR-3E2EE45E5A

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

  1. Cost. BOXX charges 0.19% of assets a year and ICSH 0.08%, a gap of 0.11 points.
  2. What each follows (similar). Both follow No index, actively managed.
  3. One-year total return (similar). Over 1 year to Oct 28, 2026 BOXX returned +4.0% and ICSH +3.5% with distributions reinvested, a gap of 0.5 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.

ICSH

ICSH is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +3.5% with distributions reinvested. The prospectus expense ratio is 0.08% a year.

Questions people ask

Which returned more over the last year, BOXX or ICSH?
In the year to Oct 28, 2026, with distributions reinvested, BOXX returned +4.0% and ICSH +3.5%.
Which is cheaper, BOXX or ICSH?
ICSH is cheaper, by 0.11 percentage points a year. That is about $11 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, BOXX against ICSH, data as of Oct 28, 2026. https://etfiq.com/compare/any/boxx-vs-icsh

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