Dividend comparison

SGOV vs BOXX: Which Is Better for Income?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares 0-3 Month Treasury Bond ETF and Alpha Architect 1-3 Month Box ETF, side by side. Updated October 21, 2026.

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SGOV vs BOXX: key differences

The short answer, from the latest data on this page.

Fees. SGOV is cheaper at 0.09% a year versus 0.24% for BOXX. On $10,000 that is $15 a year less in fees.
Performance. Over the last 3 years, BOXX returned 14.5% versus 10.8% for SGOV, with dividends reinvested. $10,000 would have grown to $11,446 in BOXX and $11,076 in SGOV.
Risk. Their worst declines over the last 3 years were similar: -0.6% for SGOV and -0.1% for BOXX from peak to trough.
Diversification. SGOV holds 24 positions and BOXX holds 18.
Size. SGOV is the larger fund with $116.3 billion in assets, against $14.3 billion for BOXX.

Bottom line: SGOV fits better if you care most about lower fees. BOXX fits better if you care most about stronger 3-year returns.

Side-by-side snapshot

Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.

Metric	SGOV iShares 0-3 Month Treasury Bond ETF	BOXX Alpha Architect 1-3 Month Box ETF
Dividend yield (TTM)	3.64%	—
Dividend / share (TTM)	$3.67	—
Payout frequency	Monthly	—
Last dividend	$0.3005 on Oct 6, 2026	$0.2906 on Aug 14, 2024
Ex-dividend date	Oct 1, 2026	Aug 13, 2024
Dividend growth (CAGR)	238.5% over 4 yrs	—
Price	$100.61	$118.68
Beta	0.00	-0.00
Max drawdown (5Y)	-0.6%	-0.1%
Market cap	$96.06B	$14.26B
Exchange	NYSE	CBOE
Expense ratio	0.09%	0.24%
Assets under management	$116.27B	$14.30B
Number of holdings	24	18

Income on a $10,000 investment

Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

SGOV

$30.36/mo

$364 /yr at 3.64% yield

BOXX

—/mo

Yield data unavailable

Dividend history

Total dividends paid per share in each calendar year.

Year	SGOV	BOXX
2025	$4.1157	—
2024	$5.1151	—
2023	$4.8826	—
2022	$1.4546	—
2021	$0.0313	—

Strategy: Cash equivalent

Funds holding short-dated US government paper, where the objective is that the principal is there when you need it. Yield follows short-term interest rates with a short lag rather than being locked in, so income falls when the central bank cuts and rises when it hikes. Because the underlying holdings are nearly identical across providers, the expense ratio comes almost directly out of what you receive.

There is no growth here by design, and purchasing power erodes whenever the after-tax yield sits below inflation.

What SGOV vs BOXX actually do

SGOV

An iShares fund holding US Treasury bills maturing within three months, used as a parking place for cash.

It tracks an ICE index of 0 to 3 month Treasury securities, so the entire portfolio rolls over every quarter and its yield tracks short-term rates with a short lag rather than being locked in. Interest accrues into the share price through the month and is paid out monthly, which is why the price ratchets up and then drops back by the distribution amount instead of trending. Because the holdings are direct Treasury obligations, the income is generally exempt from state and local tax.

Suits an emergency fund, a savings goal with a near-term date, or the cash sleeve of a portfolio waiting to be deployed. It is not an investment in any growth sense, and it will lose purchasing power to inflation whenever short rates sit below it.

Capital preservation

Performance

Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Dec 28, 2022 would now be worth $11,529 in SGOV and $11,897 in BOXX.

Period	SGOV	BOXX
1 month	0.02%	0.37%
3 months	0.03%	1.01%
Year to date	0.23%	3.11%
1 year	0.69%	4.02%
3 years	10.76%	14.46%
5 years	17.07%	—

SGOV
BOXX

Both series indexed to 100 on 2022-12-28 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation

Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.

SGOV
BOXX

Quick verdict

SGOV fits better if you care most about lower fees. BOXX fits better if you care most about stronger 3-year returns. Model the holding inside your real portfolio before deciding.

Still deciding? Compare them in your portfolio

Forecast dividend income, track payouts, and see how SGOV vs BOXX fits with the rest of your holdings. Free to start — no credit card required for the trial.

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Frequently asked questions

Is SGOV or BOXX better for dividend income?

Compare yield, payout sustainability, and how each fund or stock fits your income goals. Use Dividend Wealth to model both holdings inside a real portfolio forecast.

What is the difference between SGOV and BOXX?

iShares 0-3 Month Treasury Bond ETF (SGOV) is an ETF listed on NYSE. Alpha Architect 1-3 Month Box ETF (BOXX) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.

Which is cheaper, SGOV or BOXX?

SGOV has the lower expense ratio. SGOV charges 0.09% a year and BOXX charges 0.24%, a difference of $15 a year on a $10,000 investment.

Which has performed better, SGOV or BOXX?

Over the last 3 years, BOXX has the higher total return with dividends reinvested: SGOV returned 10.8% and BOXX returned 14.5%. Past performance does not predict future returns.

Which is riskier, SGOV or BOXX?

Measured by the worst peak-to-trough decline over the last five years, SGOV has been riskier: SGOV fell as much as 0.6% and BOXX as much as 0.1%. Their betas are 0.00 and -0.00.

Can I hold both SGOV and BOXX?

Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.

Where can I compare SGOV vs BOXX with my full portfolio?

Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SGOV and BOXX fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.