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The $6.3T Money-Market Industry Just Got Its First ETF
News September 25, 2024 at 03:57 PM
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What You Need To Know
- Though interest rates are coming down, Texas Capital sees an opportunity to capitalize on the still-strong demand for cash.
- MMKT, which carries an annual expense ratio of 20 basis points, must invest 99.5% of its assets in cash or short-dated government securities.
- The maturities of its holdings can be as short as overnight, in the form of repurchase agreements, or as long as 13 months, according to SEC filings.
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