What is BOXX?

BOXX is actively managed. The fund seeks to provide the price and yield performance of 1-3 month US Treasury Bills, less fees and expenses, through the use of derivatives. The strategy employs box spreads.

PERFORMANCE [as of 01/20/23] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
BOXX -- -- 0.23% -- -- -- --
BOXX (NAV) -- -- 0.20% -- -- -- --
No Underlying Index -- -- -- -- -- -- --
Barclays U.S. Short Treasury Index 0.34% 1.02% 0.23% 1.25% 0.71% 1.29% 0.82%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

BOXX Factset Analytics Insight

BOXX aims to provide a similar risk profile as US Treasury Bills. However the strategy uses exchange-listed or FLEX options, or both, to construct box spreads to provide exposure. A box spread involves constructing synthetic long and short positions on an equity index such as the S&P 500 Index. The difference between the strike prices on the long and short option positions represents the maximum value potential at expiration. The box spreads are constructed aiming to remove the equity index risk and lock in a maximum return. The fund is actively managed. The quantity and expiration dates of the box spreads will be based on the size of the fund and effective yield for options. Typically 80% of the fund’s assets will be invested in box spreads with a weighted average maturity less than 90 days. Both European- and American-style options may be used. The fund’s adviser has full discretion to roll option positions. Investors should expect a high portfolio turnover.

BOXX Summary Data

12/28/22
0.19%
$56.20M
No Underlying Index
Barclays U.S. Short Treasury Index
Open-Ended Fund

Peers

Barclays U.S. Short Treasury Index

Fund Flows

+$0.00B 5 Days
+$0.06B 30 Days
+$0.06B 90 Days

BOXX Portfolio Data

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BOXX Index Data

No Underlying Index
Proprietary
Proprietary
Barclays U.S. Short Treasury Index

BOXX Portfolio Management

0.19%
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BOXX Tax Exposures

20.00% / 39.60%
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N/A
No

BOXX Fund Structure

Open-Ended Fund
No
No
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N/A
N/A
Low
Daily

Factset Analytics Block Liquidity

As of 01/23/23

This measurement shows how easy it is to trade a $1 million USD block of BOXX. BOXX is rated a N/A out of 5.

BOXX Tradability

43,900
$4.40M
4,877
$488.93K
0.03%
$0.03
0.05%
0.10% / -0.00%
None
100.00%
10,000
0.49
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0
$100.24
N/A

BOXX Top 10 Holdings

99.90%
0.10%
100.00%

BOXX Performance Statistics

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BOXX Avg Life Maturity Distribution

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BOXX OAS Breakdown

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BOXX Holdings Statistics

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Options Strategies for Outcome Investing

A collar strategy is a protective option strategy constructed by writing a call and buying a put with the same expiration date while being long the underlying security.