Roundhill Ultra Short Duration No Dividend Target ETF
Key Statistics
Historical Performance
Total return including reinvested distributions, from adjusted closing prices.
Price History
Price history is being compiled for this fund.
Top Holdings
Top 5 holdings as of Mar 31, 2026 · source: SEC N-PORT. Full holdings & prospectus →
About XBOX
The Fund is an actively managedexchange-traded fund (“ETF”) that seeks to achieve its investment objective through multiple combinations of synthetic longand short exchange-listed options positions, each known as a box spread (“Box Spread”) and collectively referred to as box spreads (“Box Spreads”). Box Spread Strategy. A BoxSpread strategy combines a “synthetic long” position with an offsetting “synthetic short” position, through agrouping of option contracts on an equity security, index or ETF. Option contracts are agreements between a buyer and seller that givethe purchaser of the option the right to buy or sell a particular asset at a specified future date at an agreed upon price, commonly knownas the “strike price.” In the case of a “call option,” the purchaser has the right to buy the particular assetand the seller of a “call option” has the obligation to deliver the particular asset at the strike price. In the case of a“put option,” the purchaser has the right to sell the particular asset and the seller of a “put option” has theobligation to purchase the particular asset at the strike price. As further described below, the Fund will target Box Spread positions that are expected to have maturities ranging from one to six monthsat the time they are established (i.e., “ultra short durations”). However, Box Spreads owned by the Fund may have tenors (i.e.,remaining time until expiration) anywhere from zero to six months, as the Fund may not necessarily roll positions with one month leftin the tenor. The Fund’s synthetic longposition is created though the purchase of a call option and sale of a put option, purchased or sold on the same reference asset, strikeprice and expiration date. The Fund’s synthetic short position is created through the purchase of a put option and sale of a calloption, purchased or sold on the same reference asset and expiration date as the synthetic long position, but at a higher strike pricefrom the synthetic long position. The synthetic long and short options positions, in combination, are designed to offset one another,creating a market-neutral position with a fixed payoff at expiration of the options contracts. The Fund’s strategy of replicatingthe ownership of long and short positions at two different prices effectively creates a “box” that locks in a fixed payout,regardless of the underlying asset’s movement. Please refer to the section entitled “Additional Information About the Fund’sPrincipal Investment Strategy” for an illustration of the value of a Box Spread at expiration. The Fund’s expected profitfrom a Box Spread transaction equals approximately the difference between the price paid for the Box Spread and its expiration value minusany transaction costs associated with the options trades. The effective yield on each Box Spread is determined by annualizing the profitover the price paid. Box Spread Portfolio. Theoptions contracts that the Fund utilizes in implementing its investment strategy will be traditional exchange-traded options contractsand/or FLexible EXchange options (“FLEX Options”). The Fund will only invest in options contracts that are listed for tradingon regulated U.S. exchanges. Traditional exchange-traded options have standardized terms, such as the type (call or put), the referenceasset, the strike price and expiration date. Exchange-listed options contracts are guaranteed for settlement by the Options Clearing Corporation(“OCC”). FLEX Options are a type of exchange-listed options contract with uniquely customizable terms that allow investorsto customize key terms like type, strike price and expiration date that are standardized in a typical options contract. FLEX Options arealso guaranteed for settlement by the OCC. The Fund will utilize“European Style” option contracts, which are only exercisable on the expiration date of the contract, as opposed to“American Style” options that can be exercised at any time prior to expiration. In holding synthetic positions createdby the Box Spreads that remain intact until maturity, the Fund seeks to prevent any part of the strategy from being closed out earlydue to early exercise of the option, increasing the likelihood that the Fund will capture the intended payoff—the differencebetween the strike prices—without the risk of unexpected changes or disruptions before the expiration date. The Fund intends to use optionson diversified securities, such as SPDR® S&P 500® ETF Trust and Invesco QQQ TrustSM, Series1, as the reference assets for its Box Spread positions. However, the Fund has the ability to use options that reference other types ofsecurities if the Adviser determines such an investment is to the benefit of the Fund and its shareholders. The Fund may hold collateral,such as cash, cash equivalents or securities issued or guaranteed by the U.S. government, that may be used to pay costs related to implementingthe Fund’s investment strategy. Box Spread Portfolio Layering.The Fund expects to regularly buy, hold, and sell several Box Spreads. The Fund’s Box Spread positions are expected to have maturitiesranging from one to six months at the time they are established (i.e., “ultra short durations”). However, Box Spreads ownedby the Fund may have tenors (i.e., remaining time until expiration) anywhere from zero to six months, as the Fund may not necessarilyroll positions with one month left in the tenor. To gain exposure to the forward rate implied by Box Spreads with varying maturities,the Fund may buy and sell Box Spreads with either longer or shorter periods to expiration. The returns on the Fund’sinvestments in Box Spreads will depend on a number of factors, including changes in market prices and expected interest rates and the Fund’strading activity, among other things. As a result, returns may vary. Further, given that the Fund may hold multiple Box Spreads at a time,there is no fixed return for a given period, and the value of the Fund can increase or decrease based on the different factors discussedabove. The Fund will typically purchasea new Box Spread at the time (or shortly thereafter) any existing Box Spread expires or is sold or when the Adviser believes purchasinga new Box Spread would offer a favorable investment opportunity. The Fund may also sell or “roll” any Box Spread at any time.When rolling a Box Spread, the Fund enters into a trade where it simultaneously closes on each component of an existing Box Spread whileopening a new Box Spread position. The Fund may also sell Box Spreads that utilize the same or different reference assets, strike prices,and expiration dates as Box Spreads owned by the Fund. When selling or rolling a Box Spread, the Fund may incur higher transactioncosts than if it waited until such Box Spread expired. The Fund may engage in active and frequent trading of portfolio securities to achieveits investment objective. The Adviser seeks to manage the Fund’s portfolio such that the Fund does not pay dividends or otherwise distribute any income toshareholders each year. The Fund will not concentrate (i.e.,invest more than 25% of its total assets) its investments in securities of issuers in any industry or group of industries. The Fund is classified as “non-diversified”under the Investment Company Act of 1940 (the “1940 Act”).
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Data for XBOX is aggregated from third-party providers (Tiingo, Nasdaq, Finnhub) and SEC filings, may be delayed at least 20 minutes, and may be incomplete or contain errors. Nothing here is investment advice. Verify with the official prospectus before investing.