Share-split context: A reverse split was recorded on Jun 22, 2026 with coefficient 0.166667. A reverse split combines multiple old shares into fewer new shares and mechanically raises the quoted price per share. That mechanical increase does not restore lost investment value. The returns in this report are already split-adjusted, while reverse-split history remains a separate structural warning.

What this ETF is trying to do

BOXL, known as the Alpha Architect Long-Term Treasury Bond ETF, is an investment fund that focuses on long-term government bonds. Investors often look at treasury bond ETFs to get exposure to government debt.

What the numbers show

As of October 7, 2026, the current price of BOXL is $3.24. The data shows a very large share-price decline over several time periods:

• Year-to-date (YTD) price return: approximately -68.24%

• One-year price return: approximately -95.96%

• Three-year price return: approximately -99.03%

• Five-year total return: approximately -99.90%

This ETF has a history of reverse splits. A reverse split happens when multiple old shares are combined into fewer new shares. When this occurs, the quoted per-share price rises mechanically. It is important to understand that this mechanical increase in price does not restore lost investment value.

Income and distribution explanation

Some investors buy ETFs to receive regular cash payments, called distributions. However, for BOXL, no distributions have been detected. The distribution yield is 0%. This means the ETF is not currently providing cash income to its investors.

NAV erosion explanation

The supplied data is sufficient to evaluate price erosion, but it does not include enough historical NAV-per-share data to confirm or rule out NAV erosion.

Based on the available price-based evidence, there is a severe erosion-risk flag for this ETF. This flag was triggered by the split-adjusted price trend and the erosion score. The erosion score is 10, which is categorized as "Severe price erosion." This indicates that the market price of the shares has dropped significantly.

Pros

Based on the supplied data, there are no specific advantages or positive performance metrics listed for this ETF.

Cons

• Significant share-price decline: The fund has experienced very large losses in its share price over the last one, three, and five years.

• Severe erosion risk: The fund has a severe erosion-risk flag and a high erosion score.

• No income: There are no distributions or dividend yields being paid out.

• Reverse split history: The fund has undergone four reverse splits in its history.

Beginner takeaway

BOXL is an ETF that has seen a very heavy decline in its share price over the last few years. It does not pay out any cash income to investors, and it carries a severe erosion-risk flag due to its declining price trend.