State Street Debuts Prime Money Market ETF With 18 Bps Fee
State Street launched the Prime Money Market ETF with an 18 bps expense ratio to provide cost-effective cash management focusing on income, liquidity and capital preservation. The fund invests in U.S. government securities, commercial paper, certificates of deposit and other high-quality debt and taps a $599.55 billion cash team.
1. Launch and Product Overview
State Street Investment Management announced the launch of the Prime Money Market ETF, offering investors the convenience, transparency and trading flexibility of an ETF structure for cash management solutions.
2. Investment Strategy and Expense Ratio
The fund seeks to maximize current income consistent with capital preservation and liquidity by investing in short-term high-quality debt obligations, including U.S. government securities, commercial paper, certificates of deposit and repurchase agreements, with an expense ratio of 18 basis points.
3. Management Expertise and Assets Under Management
The ETF leverages State Street’s cash team, which manages $599.55 billion in cash assets as of December 31, 2025, drawing on over 40 years of experience serving institutional clients worldwide.