GraniteShares Launches Lowest-Cost Box Spread ETF for Cash Management

GraniteShares has launched the GraniteShares Short Term Box ETF (LBOX), an actively managed fund designed as a tax-aware alternative to short-term Treasury bills. LBOX uses offsetting options positions with an average effective maturity of about three months to target returns linked to short-term interest rates rather than market direction. Its 0.1349% net expense ratio, after a fee waiver through 2027, is the lowest among U.S.-listed box spread ETFs, according to the firm. The strategy also aims to minimize annual income distributions.