BOXX

Alpha Architect 1-3 Month Box ETF

Uses SPX box spread options to replicate short-term Treasury returns with tax efficiency (no coupon income). Designed as a cash management vehicle. Short operating history (Dec 2022).

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Fixed IncomeTER 0.19%Acc.US-domiciled

TER

0.19%

AUM

$5.5B

CAGR

4.7%

Volatility

0.3%

Sharpe

6.43

Max Drawdown

0.0%

Data Range

2022-12 → 2026-09

Performance Analysis

Maximum Drawdown History

How far the ETF has fallen from its all-time high at each point. Deeper = more painful.

Current DD0.0%

Worst DD0.0%

Worst date

Rolling Returns

Annualized returns over rolling windows. Shows the range of outcomes depending on when you invested.

Avg return4.8%

Best4.9%

Worst4.6%

% positive100%

10 periods

Backtest Data Proxy

Short operating history: only ~40 months of data since inception Dec 2022.

Key Facts

ISIN

US02083J1079

Issuer

Alpha Architect

Benchmark

None (rules-based options strategy)

Total Expense Ratio (TER)

0.19%

Assets Under Management

$5.5B approx.

Inception Date

2022-12-28

Domicile

Legal Structure

Open-End Fund

Dividend Policy

Accumulating (auto-reinvests)

Replication Method

Synthetic (Swap-Based)

UCITS Status

✗ Not UCITS

Fund Currency

USD

Primary Exchange

BATS

Number of Holdings

N/A

Top 10 Holdings

Top 10 represent 100.0% of the fund.

SPX-BOX-1S&P 500 Box Spread (short-dated)

50.00%

Options Strategy

SPX-BOX-2S&P 500 Box Spread (1-3 month)

50.00%

Options Strategy

Backtest this ETF Official Fund Page

Who Is This ETF For?

✓Portfolio stabilizer and income generator. Reduces overall portfolio volatility when paired with equities.

✓Investors preferring automatic dividend reinvestment (no tax event on distributions in many jurisdictions).

Key Risks to Consider

• Interest rate risk: bond prices fall when rates rise.

• Non-UCITS: may have unfavorable tax treatment for non-US investors (US estate tax, withholding tax).

Similar ETFs

BND0.03% TER

Vanguard Total Bond Market ETF

Total US Bond Market · Vanguard

AGG0.03% TER

iShares Core US Aggregate Bond ETF

Total US Bond Market · BlackRock

TIP0.19% TER

iShares TIPS Bond ETF

Inflation-Protected Bonds · BlackRock

SHV0.15% TER

iShares Short Treasury Bond ETF

Ultra Short-Term Treasury · BlackRock

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Correlation Matrix

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Data & Methodology

Metadata sourced from official issuer documentation. Price data from Yahoo Finance (monthly adjusted close, includes reinvested dividends and splits). AUM figures are approximate and updated quarterly.

Data source: Yahoo Finance (adjusted close), Alpha Architect (metadata)Last verified: 2026-04-14

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💬 Frequently Asked Questions

Uses SPX box spread options to replicate short-term Treasury returns with tax efficiency (no coupon income). Designed as a cash management vehicle. Short operating history (Dec 2022).

BOXX has a total expense ratio (TER) of 0.19%, which means you pay $19 per year for every $10,000 invested.

BOXX is an accumulating ETF — dividends are automatically reinvested into the fund rather than paid out, which can be more tax-efficient in many jurisdictions.

BOXX is a US-domiciled ETF (not UCITS). Non-US investors should consider the US estate tax implications (40% on US assets above $60,000) and the 30% dividend withholding tax (reduced by treaty in some countries).

BOXX uses synthetic replication via swap contracts, which can reduce tracking error but introduces counterparty risk.