Dividend comparison
SHV vs BOXX: Which Is Better for Income?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Trust iShares 0-1 Year Treasury Bond ETF and Alpha Architect 1-3 Month Box ETF, side by side. Updated October 21, 2026.
SHV vs BOXX: key differences
The short answer, from the latest data on this page.
- Fees. SHV is cheaper at 0.15% a year versus 0.24% for BOXX. On $10,000 that is $9 a year less in fees.
- Performance. Over the last 3 years, BOXX returned 14.5% versus 10.5% for SHV, with dividends reinvested. $10,000 would have grown to $11,446 in BOXX and $11,054 in SHV.
- Risk. Their worst declines over the last 3 years were similar: -0.6% for SHV and -0.1% for BOXX from peak to trough.
- Diversification. SHV holds 19 positions and BOXX holds 18.
Bottom line: SHV 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 | SHV iShares Trust iShares 0-1 Year Treasury Bond ETF | BOXX Alpha Architect 1-3 Month Box ETF |
|---|---|---|
| Dividend yield (TTM) | 3.63% | — |
| Dividend / share (TTM) | $4.00 | — |
| Payout frequency | Monthly | — |
| Last dividend | $0.2991 on Oct 6, 2026 | $0.2906 on Aug 14, 2024 |
| Ex-dividend date | Oct 1, 2026 | Aug 13, 2024 |
| Dividend growth (CAGR) | 43.5% over 3 yrs | — |
| Price | $110.26 | $118.68 |
| Beta | 0.01 | -0.00 |
| Max drawdown (5Y) | -0.6% | -0.1% |
| Market cap | $23.42B | $14.26B |
| Exchange | NYSE | CBOE |
| Expense ratio | 0.15% | 0.24% |
| Assets under management | $23.46B | $14.30B |
| Number of holdings | 19 | 18 |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
SHV
$30.27/mo
$363 /yr at 3.63% yield
BOXX
—/mo
Yield data unavailable
Dividend history
Total dividends paid per share in each calendar year.
| Year | SHV | BOXX |
|---|---|---|
| 2025 | $4.5036 | — |
| 2024 | $5.5326 | — |
| 2023 | $5.2126 | — |
| 2022 | $1.5226 | — |
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.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Dec 28, 2022 would now be worth $11,489 in SHV and $11,897 in BOXX.
| Period | SHV | BOXX |
|---|---|---|
| 1 month | 0.05% | 0.37% |
| 3 months | 0.01% | 1.01% |
| Year to date | 0.10% | 3.11% |
| 1 year | 0.56% | 4.02% |
| 3 years | 10.54% | 14.46% |
| 5 years | 15.87% | — |
- SHV
- 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.
- SHV
- BOXX
Quick verdict
SHV 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 SHV vs BOXX fits with the rest of your holdings. Free to start — no credit card required for the trial.
Frequently asked questions
Is SHV 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 SHV and BOXX?
iShares Trust iShares 0-1 Year Treasury Bond ETF (SHV) 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, SHV or BOXX?
SHV has the lower expense ratio. SHV charges 0.15% a year and BOXX charges 0.24%, a difference of $9 a year on a $10,000 investment.
Which has performed better, SHV or BOXX?
Over the last 3 years, BOXX has the higher total return with dividends reinvested: SHV returned 10.5% and BOXX returned 14.5%. Past performance does not predict future returns.
Which is riskier, SHV or BOXX?
Measured by the worst peak-to-trough decline over the last five years, SHV has been riskier: SHV fell as much as 0.6% and BOXX as much as 0.1%. Their betas are 0.01 and -0.00.
Can I hold both SHV 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 SHV vs BOXX with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how SHV 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.