Alpha Architect 1-3 Month Box ETF
BOXX
Market cap $4.5B

110.09 USD

+0.03

0.03%

At close Dec 20, 4:00 PM EST

After hours

110.08

-0.01

0.01%

1 day

0.03%

5 days

0.06%

1 month

0.41%

3 months

1.18%

6 months

2.27%

Year to date

4.74%

1 year

4.98%

5 years

10.06%

10 years

10.06%

0

Funds holding %

of 6,809 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

111% more repeat investments, than reductions

Existing positions increased: 76 | Existing positions reduced: 36

78% more first-time investments, than exits

New positions opened: 32 | Existing positions closed: 18

21% more funds holding in top 10

Funds holding in top 10: 14 [Q2] → 17 (+3) [Q3]

9% more funds holding

Funds holding: 154 [Q2] → 168 (+14) [Q3]

7% more capital invested

Capital invested by funds: $987M [Q2] → $1.06B (+$69.9M) [Q3]

4.83% less ownership

Funds ownership: 31.32% [Q2] → 26.49% (-4.83%) [Q3]

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Research analyst outlook

We haven’t received any recent analyst ratings for BOXX.

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Financial journalist opinion

BOXX: Do Not Confuse Cash And Cash-Like Return

Alpha Architect 1-3 Month Box ETF aims to match/exceed 1-3 month U.S. Treasury Bills but carries inherent options market risks. Arbitrage activities may fail during financial distress, making BOXX unreliable as a cash equivalent compared to SPDR T-Bill ETF. BOXX offers tax benefits, but these are minor and do not justify the risks for emergency funds or cash equivalents.

BOXX: Do Not Confuse Cash And Cash-Like Return

The Largest Bond ETFs Are Good, But These ETFs Are Better

The largest bond ETFs are almost exclusively index funds focusing on the broader bond market, or on specific bond sub-asset classes. These ETFs are reasonable investments, but investors can do much better than reasonable. Lots of ETFs offer higher yields, returns, and risk-adjusted returns than these larger ETFs, with extra advantages to boot.

The Largest Bond ETFs Are Good, But These ETFs Are Better

BOXX: Understanding The Fund's First Distribution

BOXX ETF offers a unique value proposition by using box spreads for low-risk returns and tax efficiency, similar to short-term treasury ETFs. Despite its tax-deferred design, BOXX paid a distribution, introducing a minimal tax liability but diminishing its value proposition. BOXX's expense ratio is higher than other options, but a current fee waiver reduces costs temporarily.

BOXX: Understanding The Fund's First Distribution

BOXX: Cash-Alternative ETF, 5.6% Options Yield, Risks Abound

BOXX achieves similar returns to t-bills through options. BOXX's investors can generally defer their taxes until a moment of their choosing, paying capital gain rates when they sell. Although the fund is a solid choice, Federal Reserve cuts should significantly decrease returns and after-tax yields in the coming months.

BOXX: Cash-Alternative ETF, 5.6% Options Yield, Risks Abound

BOXX ETF: Cash-Like Returns Without the Tax Bill

Unboxing the Alpha Architect ETF's approach to a popular option trade. Manager research analyst Lan Tran with Morningstar Research Services breaks down the strategy of the Alpha Architect 1-3 Month Box ETF, how investors can take advantage of what it has to offer, and whether this fund is worth the hype.

The ETF Flowdown: Q2 2024

Markets steadily march on to record highs, as Q2 2024 wraps up. Many patterns that emerged earlier in the year once again prevailed through the fog of geopolitical and rate uncertainty.

The ETF Flowdown: Q2 2024

BOXX: A Clever Treasury Bill Return Replicator Without Taxable Liabilities

Alpha Architect 1-3 Month Box ETF offers tax-efficient returns that replicate Treasury bill returns through a complex options trading strategy. BOXX has nearly $2.53 billion in assets under management and has performed well since its launch in December 2022. BOXX provides cash-like returns with minimal risk, making it an attractive alternative to money market funds and short-term bond ETFs. However, its complexity and lack of income distribution may not be suitable for all investors.

3 ETFs For Short-Term Risk-Averse Investors

With prices, valuations, and inflation elevated, some investors are looking for comparatively safe, high-quality investments. T-bills, short-term TIPs, and AAA-rated CLOs are three of the best investments in this area. There are fantastic ETFs covering each of these securities.

3 ETFs For Short-Term Risk-Averse Investors

3 Investment-Grade ETF Buys, With Yields Up To 8.0%

Investment-grade bonds offer investors strong yields with low credit risk. A couple of ETFs offer exposure to these securities with some added benefits, including potential tax advantages and above-average yields. JBBB, CARY, and BOXX look like particularly strong ETFs in this space. A quick overview of these follows.

Thinking Outside The BOXX

There's been a lot of excitement around a new ETF BOXX, which potentially delivers a return similar to US Treasury Bills, but in the form of long-term capital gains. We compare the merits of this ETF versus others that own Treasury Bills directly, such as BIL and SGOV. We find that for many investors, BOXX may not be superior to simpler alternatives such as BIL and SGOV or owning T-Bills directly.

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