Roundhill Ultra Short Duration No Dividend Target ETF (XBOX) is an actively managed exchange-traded fund sponsored by Roundhill Investments that seeks capital appreciation through short-duration, fixed income-like returns using a market-neutral options strategy. The fund invests primarily in box spreads, or synthetic long and short exchange-listed options positions, to access short-term financing rates while aiming to minimize taxable distributions and limit equity market sensitivity.
The fund was launched in March 2026 and is part of Roundhill ETF Trust, with Roundhill Investments headquartered in New York, New York. XBOX trades on Cboe BZX and is positioned as a tax-aware alternative to traditional cash and ultra short bond allocations for investors seeking treasury-like returns in an ETF wrapper.
Recent major developments include the March 18, 2026 launch of XBOX, which Roundhill described as a new tax-aware short-duration ETF built to provide a more efficient way to manage short-duration allocations. The launch emphasized the use of box spreads in a low-cost structure, with the fund debuting at a net expense ratio of 0.1449% and initially reporting assets under management of about $275.2 million.