BOXX Alpha Architect 1-3 Month Box ETF
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.
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
BOXX Portfolio Data
BOXX Index Data
BOXX Portfolio Management
BOXX Tax Exposures
BOXX Fund Structure
Factset Analytics Block Liquidity
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 Top 10 Holdings
BOXX Performance Statistics
BOXX Avg Life Maturity Distribution
BOXX OAS Breakdown
BOXX Holdings Statistics
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.
A covered call is an income strategy constructed by writing a call option against a holding of the underlying security.