BOXX vs SHV: Yield, Cost and Returns Compared
As of Nov 5, 2026, SHV yields more: 3.63% (current yield) against 0.00% for BOXX. SHV is cheaper to own at 0.15% a year vs 0.19%. Over the same 3 years (Dec 2022 to Oct 2026), BOXX returned 4.6% a year with distributions reinvested, and SHV 4.5%. BOXX's income is not paid out at all (it builds up in the price and is taxed when you sell); SHV's is generally exempt from state income tax.
SHViShares 0–1 Year Treasury Bond ETF3.63%current yield| Compared | BOXX | SHV |
|---|---|---|
| YieldCurrent yield | 0.00% | 3.63% |
| Expense ratio | 0.19% | 0.15% |
| Total return, 1 yr | +4.1% | +3.6% |
| Total return, 3 yr (a year) | +4.6% | +4.4% |
| Total return, 5 yr (a year) | — | +3.6% |
| Total return, 10 yr (a year) | — | +2.4% |
| Worst drop since Dec 2022 | 0.0% | 0.0% |
| Share price since Dec 2022 | +19% | +0% |
| Pays | Annual | Monthly |
| Issuer | Alpha Architect | iShares |
| Assets | $14.4B | $21.4B |
| Started | 2022 | 2007 |
| Type | Box-spread ETF | Treasury ETF |
Higher yield
SHV
3.63%
Lower cost
SHV
0.15%
Better total return
BOXX
4.6%/yr
Smaller worst drop
BOXX
0.0%
Key facts: BOXX vs SHV
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, BOXX yields 0.00% (current yield) and SHV yields 3.63% (current yield).
- BOXX's expense ratio is 0.19% and SHV's is 0.15%: $19 vs $15 a year on $10,000.
- From Dec 2022 to Oct 2026, $10,000 in BOXX grew to $11,902 (4.6% a year) and $10,000 in SHV to $11,847 (4.5% a year), distributions reinvested.
- Their worst month-end drops over that time: 0.0% for BOXX and 0.0% for SHV.
- BOXX's income is not paid out at all (it builds up in the price and is taxed when you sell), while SHV's is generally exempt from state income tax.
Cite this page
SmarterDividends, "BOXX vs SHV: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/boxx-vs-shv
$10,000 in each, Dec 2022 to Oct 2026
Distributions reinvested, month-end values.
BOXX became
$11,902
4.6% a year
SHV became
$11,847
4.5% a year
Year by year
| Year | BOXX | SHV |
|---|---|---|
| 2025 | +4.4% | +4.2% |
| 2024 | +5.2% | +5.1% |
| 2023 | +5.0% | +5.0% |
Total return each calendar year, distributions reinvested.
What each holds and how it's taxed
- BOXX · Box-spread ETF
- Earns a T-bill-like return from options box spreads and pays no distributions: the return shows up in the share price and is taxed when you sell.
- SHV · Treasury ETF
- Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies).
General information, not tax advice. Every cash fund by yield →
BOXX vs SHV: questions
Is BOXX or SHV better?
It depends on the job. SHV pays more today (3.63% vs 0.00%), SHV costs less, and BOXX has the better total return over Dec 2022 to Oct 2026, with BOXX holding up better in its worst stretch. For cash you may need soon, yield after tax and how easily you can get the money out matter more than past returns.
Which pays a higher dividend, BOXX or SHV?
SHV, at 3.63% against 0.00% for BOXX as of Nov 5, 2026. On $10,000 that's about $363 vs $0 a year at today's rates.
Which has the better total return?
BOXX. From Dec 2022 to Oct 2026, it returned 4.6% a year with distributions reinvested, against 4.5% for SHV. $10,000 became $11,902 vs $11,847.
Which is cheaper, BOXX or SHV?
SHV, with a 0.15% expense ratio against 0.19%.
How are BOXX and SHV taxed?
BOXX: Earns a T-bill-like return from options box spreads and pays no distributions: the return shows up in the share price and is taxed when you sell. SHV: Holds U.S. Treasury securities, so its income is generally exempt from state and local income tax (federal tax still applies). General information, not tax advice.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. For information only, not investment advice. Last fund data: Nov 5, 2026.