Alpha Architect 1-3 Month Boxx Fund - BOXX

Alpha Architect 1-3 Month Box Fund is an actively managed exchange-traded fund that serves as an options-based alternative to ultrashort duration bond positions, particularly targeting the 1-3 month United States Treasury Bill market. It achieves this by investing primarily in box spreads, which are combinations of European-style call and put options typically on S&P 500 Index-related ETFs like the SPDR S&P 500 ETF, with maturities of 1 to 3 months. These strategies aim to replicate the price and yield performance of ultra-short-term investment grade government and Treasury securities while providing access to an alternative lending market traditionally used by institutional investors. The fund employs a proprietary weighting scheme and holds positions in options on large-cap equity indices, along with minimal cash equivalents. Alpha Architect 1-3 Month Box Fund plays a unique role in the fixed income segment by offering investors a synthetic exposure to short-term Treasuries through equity options, fitting into the government and Treasury category with an ultra-short term niche. This approach distinguishes it within actively managed ETFs focused on low-duration, investment-grade instruments.