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About Texas Capital Government Money Market ETF
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Inception date
Sep 24, 2024
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Texas Capital Bank Wealth Management Services, Inc.
Distributor
Northern Lights Distributors LLC
ISIN
US88224A5083
MMKT is the first ETF to comply with Rule 2a-7 of the 1940 Act, technically qualifying as a government money market fund. The rule is designed to preserve stability and liquidity, ensuring that redemption requests can be fulfilled. However, MMKT will not maintain a stable net asset value (NAV) of $1. The fund will allocate at least 99.5% of its assets to cash, US government securities, or fully collateralized repurchase agreements. The objective is to generate competitive yields while preserving capital. Note that a significant portion of the funds assets are overnight repurchase agreements, and income from these may not be exempt from state and local taxes, which could affect the after-tax yield compared to traditional government securities.
Related funds
Classification
What's in the fund
Exposure type
Government
Stock breakdown by region
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
MMKT assets under management is 57.64 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
MMKT invests in bonds. See more details in our Analysis section.
MMKT expense ratio is 0.20%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, MMKT isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, MMKT pays dividends to its holders with the dividend yield of 4.00%.
MMKT shares are issued by Texas Capital Bancshares, Inc.
MMKT follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Sep 24, 2024.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.