XFUNDS 1-3 Month BOX ETF (XCSH)

The XFUNDS 1-3 Month BOX ETF is an exchange-traded fund listed on NASDAQ under the ticker XCSH. As its name indicates, it is built around box spread strategies with maturities of roughly one to three months.

A box spread combines several options positions on the same underlying index so that the payoff at expiration is fixed, regardless of how the market moves. The difference between the cost of the position and its fixed payoff produces a return that closely tracks short-term interest rates, making the strategy comparable to holding short-dated Treasury bills.

The fund is intended as a cash-alternative vehicle. Details of its sponsor, structure and distribution policy are provided in its prospectus.