State Street Prime Money Market ETF
MMK
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- State Street Prime Money Market ETF (MMK) is an actively managed exchange-traded fund that seeks to maximize current income, to the extent consistent with the preservation of capital and liquidity, by investing in a diversified portfolio of short-term, high-quality debt obligations. The ETF offers investors intraday trading flexibility on exchanges, transparent pricing, and a low expense ratio of 18 basis points, making it one of the lowest-cost active prime money market ETF strategies available in the U.S. Its core holdings include U.S. government securities such as Treasury bills, notes, and bonds; certificates of deposit and time deposits from U.S. and foreign banks; commercial paper and other short-term obligations of U.S. and foreign companies; asset-backed securities including asset-backed commercial paper; mortgage-related securities; and repurchase agreements, all in compliance with money market fund regulatory requirements for quality, maturity, diversification, and liquidity. MMK was launched in February 2026 by State Street Investment Management, the cash management division of State Street Global Advisors, leveraging over 40 years of expertise and approximately $600 billion in assets under management as of December 31, 2025. This launch represents a strategic expansion into the growing money market ETF segment, providing institutional and retail investors with ETF convenience for cash management needs amid rising demand for flexible liquidity solutions. State Street Global Advisors, founded in 1978 and headquartered in Boston, Massachusetts, operates globally with offices in key financial centers including London, Hong Kong, Sydney, and Zurich, serving institutional clients, financial intermediaries, and individual investors across asset classes.