Texas Capital Government Money Market ETF
$100.20+0.01 (+0.01%)
- Expense ratio
- 0.20%
- Fund size
- $75M
- 1Y return
- +3.6%
- Yield · Last 12 months
- 3.57%
- Volume · 30D
- 0M sh
- NAV per share
- $100.19
- 52W range
The ETF.net MMKT Grade
Score 53 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.CScore 41Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 49Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.FScore 21Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 35Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.DScore 36Category rank
Our read on MMKT
CMoney markets went unchallenged by ETFs for three decades. MMKT was the first fund to run a government money market portfolio under Rule 2a-7 inside an ETF wrapper, with one twist: no fixed $1 share price.
The Fund seeks current interest income while maintaining liquidity and stability of principal. It invests primarily in high-quality U.S. government money market instruments and related repurchase agreements.
Why people hold it
- The first ETF built to Rule 2a-7, the SEC rulebook behind government money market funds: at least 99.5% in cash, U.S. government paper and fully collateralized repos.globenewswire.cometf.comsec.gov
- Cash-style exposure that lives in the brokerage account and trades intraday on the NYSE, rather than in a separate money fund with an end-of-day cutoff.globenewswire.comsec.gov
- Pays income monthly, and the holdings match the mandate on paper: high-quality U.S. government money market instruments and related repurchase agreements, nothing exotic.
Worth knowing
- No fixed $1 share price. NAV follows the market value of the holdings, and shares can trade a touch above or below it. Not a bank deposit, not FDIC insured.etf.comsec.gov
- The 0.20% fee sits right at the category median, while SBIL and IQMM charge 0.15% and ICSH charges 0.08%.
- Launched in 2024 and thinly traded, so spreads can run wider than at the cash-alternative giants, and the track record is still short.
MMKT Holdings
- Bonds
- —
- 79%
- US DOLLARS
MMKT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | MMKT |
|---|---|
| Year to date | +2.5% |
| 1 month | +0.3% |
| 3 months | +0.9% |
| 1 year | +3.6% |
| 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 | MMKT |
|---|---|---|
| 2026 YTD | +2.5% | |
| 2025 | +4.1% | |
| 2024 | +1.2% |
MMKT in the news
ETF.net Research hasn’t filed on MMKT yet — coverage lands here as it’s written.
MMKT Dividends
- 3.57%
- $3.58
- $0.07 per share
- Weekly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Sep 18, 2026 | Sep 21, 2026 | $0.07 |
| Sep 11, 2026 | Sep 14, 2026 | $0.07 |
| Sep 4, 2026 | Sep 8, 2026 | $0.07 |
| Aug 28, 2026 | Aug 31, 2026 | $0.07 |
| Aug 21, 2026 | Aug 24, 2026 | $0.07 |
| Aug 14, 2026 | Aug 17, 2026 | $0.07 |
| Aug 7, 2026 | Aug 10, 2026 | $0.07 |
| Jul 31, 2026 | Aug 3, 2026 | $0.07 |
| Jul 24, 2026 | Jul 27, 2026 | $0.07 |
| Jul 17, 2026 | Jul 20, 2026 | $0.07 |
| Jul 10, 2026 | Jul 13, 2026 | $0.07 |
| Jul 2, 2026 | Jul 6, 2026 | $0.07 |
MMKT Risk
- 0.1%
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.
- −2.33
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.
- −0.04%
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.
- 0.0008
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MMKT Cost
- The middle half of Cash & Ultra-Short Income funds
- Median 0.19%
40 of the 77 Cash & Ultra-Short Income funds charge less.