iShares Government Money Market ETF
$100.31+0.02 (+0.02%)
- 0.20%
- $192M
- +2.7%
- 3.64%
- 0M sh
- $100.28
- low $100.10high $100.55
The ETF.net GMMF Grade
B
Score 57 out of 100
- 46 of 78
Score 57 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.C42 out of 100Rank 39 of 78Mission
Whether the fund did what it promised, tested against its stated mandate.A80 out of 100Rank 62 of 66Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B68 out of 100Rank 1 of 75Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B55 out of 100Rank 30 of 78Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C43 out of 100Rank 59 of 77Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C46 out of 100Rank 50 of 78
Our read on GMMF
BMoney market funds price once a day. GMMF puts one on an exchange: an iShares government cash strategy whose stated job is current income with liquidity and stability of principal, plus intraday trading.
The fund seeks current income consistent with liquidity and stability of principal, while providing intraday exchange trading.
Why people hold it
- The mandate is literal: current income consistent with liquidity and stability of principal, plus intraday exchange trading. What it holds lines up with what the label says.ishares.com
- Roughly 50 positions in short-dated US government paper, run by iShares. A cash sleeve you can buy and sell during market hours like any stock.
- The 0.20% fee sits right at the median for cash-alternative ETFs, so the exchange-traded wrapper does not come at a price premium.
Worth knowing
- Trading is thin. Bid-ask spreads can run wider than in the heavily traded cash ETFs, which shows up most on large or hurried orders.
- It launched in 2025, so the track record is short and covers a single rate backdrop. Stability of principal is the stated objective, not a promise.
- Cheaper cash parking exists: ICSH charges 0.08% and JPST 0.18%, though both are ultra-short bond funds rather than money market strategies.
GMMF Holdings
- Other
- 162
- 47%
- Treasury Bill
Geography
- United States100.00%
GMMF Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
GMMF$10,272
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | GMMF |
|---|---|
| Year to date | +1.9% |
| 1 month | +0.4% |
| 3 months | +1.0% |
| 1 year | +2.7% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | GMMF |
|---|---|---|
| 2026 YTD | +1.9% | |
| 2025 | +3.7% |
GMMF in the news
GMMF Dividends
- 3.64%
- $3.65
- $0.07 per share
- Weekly
Distribution history
GMMF Risk
- 0.2%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −2.62
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −0.1%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- −0.01
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GMMF Cost
0.20%
GMMF0.20%
- The middle half of Cash & Ultra-Short Income funds
- Median 0.19%
41 of the 78 Cash & Ultra-Short Income funds charge less.
Other funds in Cash & Ultra-Short Income
- BGMOCGMO Ultra-Short Income ETFExpense ratio 0.20%1 year return —
- BCSHPiShares Dynamic Short-Term Active ETFExpense ratio 0.20%1 year return +3.9%
- BTUSBThrivent Ultra Short Bond ETFExpense ratio 0.20%1 year return +4.3%
- BVRIGInvesco Variable Rate Investment Grade ETFExpense ratio 0.30%1 year return +4.4%
- BCVSBCalvert Ultra-Short Investment Grade ETFExpense ratio 0.24%1 year return +3.7%