ETF Evaluator:
Alpha Architect Aggregate Bond ETF ()
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(as of Aug 25)
Best Performing in Intermediate Core Bond Over the Last Year
| 7.3% | Aptus Enhanced Yield ETF (JUCY) |
| 6.6% | SGI Enhanced Core ETF (USDX) |
| 5.9% | Hartford Schroders Tax-Aware Bond ETF (HTAB) |
| 5.1% | Overlay Shares Core Bond ETF (OVB) |
| 4.8% | NEOS Enhanced Income Aggregate Bond ETF (BNDI) |
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Risk
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ETF Details
Alpha Architect Aggregate Bond ETF Overview
Alpha Architect Aggregate Bond ETF (BOXA) is an actively managed Taxable Bond Intermediate Core Bond exchange-traded fund (ETF). Alpha Architect launched the ETF in 2024.
The investment seeks to provide investment results that, before fees and expenses, exceed the total return performance of an investment that tracks the U.S. Aggregate Bond Market.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to generate a total return in excess of the Solactive U.S. Aggregate Bond Index (the “Benchmark”). To accomplish the fund’s investment objective, the fund invests in options on either ETFs or indexes which are expected to provide performance that approximates that of the benchmark. The fund is non-diversified.
About Alpha Architect Aggregate Bond ETF (BOXA)
There are 5 members of the management team with an average tenure of 1.62 years: Wesley Gray (2024), Lawrence Lempert (2024), Joseph DeSipio (2024), John Vogel (2024) and Ryan Bailey (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: Solactive US Aggregate Bond Index USD index with a weighting of 100%. Alpha Architect Aggregate Bond ETF has 12 securities in its portfolio. The top 10 holdings constitute 206.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Alpha Architect Aggregate Bond ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. Alpha Architect Aggregate Bond ETF has 1.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 199.0% There is 1.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Alpha Architect Aggregate Bond ETF has -100.1% of the portfolio in cash.
Assets Under Management
The fund has $14 million in total assets, which is below the $6 billion average for the Intermediate Core Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
BOXA Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Alpha Architect Aggregate Bond ETF expense ratio is below average compared to funds in the Intermediate Core Bond category. Alpha Architect Aggregate Bond ETF has an expense ratio of 0.23%, which is 28% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Alpha Architect Aggregate Bond ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 95% for the Intermediate Core Bond category.
Recently, in the month of July 2026, Alpha Architect Aggregate Bond ETF returned -1.4%, which earned it a grade of D, as the Intermediate Core Bond category had an average return of -1.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Alpha Architect Aggregate Bond ETF has a trailing yield of 0.13%, which is below the 4.44% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Alpha Architect Aggregate Bond ETF Grades
Year to date, the ETF has returned -1.0%, 0.6 percentage points worse than the category, which translates into a grade of F. The fund has returned 1.6% over the past year (grade of F).
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BOXA Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| BOXA Return (NAV) | -1.4% | -0.7% | 1.6% | na | na | na |
| BOXA Return (Price) | -1.4% | -0.3% | 2.0% | na | na | na |
| NAV +/- Price Return | 0.004% | -0.450% | -0.360% | na | na | na |
| Intermediate Core Bond Avg | -1.2% | -0.7% | 3.0% | 4.0% | -0.3% | 1.5% |
| BOXA Grade (NAV) | D | B | F | na | na | na |
| +/- Category (NAV) | -0.2% | -0.1% | -1.4% | na | na | na |
| BOXA Tax-Cost Ratio | na | na | 0.1% | na | na | na |
BOXA Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| BOXA Return (NAV) | -1.0% | 5.3% | na | na | na | na | na | na | na | na | na |
| BOXA Return (Price) | -0.6% | 5.4% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.383% | 0.018% | na | na | na | na | na | na | na | na | na |
| Intermediate Core Bond Avg | -0.4% | 7.1% | 1.9% | 6.0% | -13.2% | -1.5% | 7.6% | 9.1% | -0.5% | 3.7% | 3.0% |
| BOXA Grade (NAV) | F | F | na | na | na | na | na | na | na | na | na |
| +/- Category | -0.6% | -1.8% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.1% |
| Total Assets: | $ 15 Mil |
| Share Class Assets: | $ 15 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.23% |
| Index Fund: | No |
| Index Tracked: | Solactive US Aggregate Bond Index USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 1.6 years | |||
| Average Tenure: 1.6 years | |||
| Managers (Year): Gray Wesley (2024), Lempert Lawrence (2024), DeSipio Joseph (2024), Vogel John (2024), Bailey Ryan (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 12 |
| % in Top 10 Holdings: | 206.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 1.0% |
Portfolio Allocation |
|
| Domestic Stock: | 199.0% |
| Foreign Stock: | 1.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | -100.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Alpha Architect |
| Phone Number: | 215-822-9983 |
| Website: | www.valueshares.com |
| Inception Date: | December 17, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.23% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.32% |
