MBOX
Freedom Day Dividend ETF
MBOX is an actively managed fund that seeks dividend growth by selecting US-listed companies the advisor believes to have the greatest potential to provide rising dividends over time.
US
EQUITY
Active
MANAGEMENT STYLE
124.6 M
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | EMPIRICAL FINANCE LLC |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | May 05, 2021 |
| Assets (mns) | $125 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| AGNICO-EAGLE MINES LTD | 2.8 % |
| PROGRESSIVE CORP | 2.7 % |
| JPMORGAN CHASE & CO | 2.6 % |
| REPUBLIC SERVICES INC | 2.6 % |
| KROGER CO | 2.4 % |
| DEERE & CO | 2.4 % |
| CINCINNATI FINANCIAL CORP | 2.3 % |
| BROADCOM INC. | 2.3 % |
| CARRIER GLOBAL CORP. | 2.3 % |
| ENTERPRISE PRODUCTS PARTNERS | 2.3 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 203 |
| Wgt avg mkt cap (mns) | $169,657 |
| Large cap (>$10bn) | 84.7% |
| Mid cap ($2-10bn) | 14.7% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 99.3% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
UNITED STATES | 87.8 % |
 |
CANADA | 4.7 % |
 |
IRELAND | 2.1 % |
 |
SWITZERLAND | 1.8 % |
 |
NETHERLANDS | 1.6 % |
 |
DENMARK | 1.3 % |
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -2.3% | 3.6% | 13.4% | 7.6% | -- | -- | -- | 6.2% |
| Dividend Yield | 0.0% | 0.9% | 1.6% | 2.2% | -- | -- | -- | 2.1% |
| Total Returns | -2.3% | 4.6% | 15.1% | 9.8% | -- | -- | -- | 8.3% | Ann. Volatility | 23.3% | 17.5% | 14.9% | 16.2% | -- | -- | -- | 15.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.86 | 77% |
| MSCI EAFE | 0.78 | 66% |
| MSCI Emg Mkts | 0.52 | 29% |
Liquidity Measures
| Avg. volume (000) | 5 |
| ADV traded (mns) | $0 |
| Turnover | 0.1% |
| Avg. Bid/Ask (% of price) | 0.13% |
Technical Indicators
| Recent close | $33.14 |
| 30d moving avg. | $31.77 |
| Annualized volatility | 16.3% |
| Relative strength (RSI) | 50 |
| Short interest | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. |
Expenses vs. |
ALTAR Score™ vs. |
|---|---|---|---|---|
| DGRO | iShares Core Dividend Growth ETF | 20.4% | -31 bp | +6.7% |
| STXD | Strive 1000 Dividend Growth ETF | 20.2% | -4 bp | +5.1% |
| BGIG | Bahl & Gaynor Income Growth ETF | 19.6% | +6 bp | +5.6% |
| PY | Principal Value ETF | 19.2% | -24 bp | +7.5% |
| VIG | Vanguard Dividend Appreciation ETF | 18.4% | -33 bp | +5.8% |
| VYM | Vanguard High Dividend Yield Index ETF | 18.2% | -33 bp | +7.4% |
| DIVL | Madison Dividend Value ETF | 17.7% | +26 bp | +5.9% |
| CGDV | Capital Group Dividend Value ETF | 17.7% | -6 bp | +4.9% |
| PFM | Invesco Dividend Achievers ETF | 17.6% | +14 bp | +5.5% |
| NUDV | Nuveen ESG Dividend ETF | 17.5% | -13 bp | +7.6% |
Risk and Returns: vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 5/13/2025
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
OVERWEIGHT
Above average appreciation potential. A rating of OVERWEIGHT is assigned to ETFs with ALTAR Scores in the 4th quintile (ranking higher than 60%-80%) of their category. Typically, funds in this category consist of stocks trading at attractive valuations and/or having above-average fundamentals.
ALTAR Score™
7.6%
Cat. Avg
5.9%
ALTAR Score™ Calculation
Category Overview
There are 937 funds in the US Equity category, with an average ALTAR Score™
of 5.9% and a standard deviation of
2.3%. 's ALTAR Score™ is approximately
0.8 standard deviations
above
the category average. This places in the 77th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
MBOXSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| (39 bp) Percentile rank | 24 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| 39.0 | 0.0 | 39 | |
| Peer Avg. | 54.5 | 31.6 | 86.1 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .