iShares Government Money Market ETF (GMMF) belongs to the Money Market category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with GMMF. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to GMMF
GMMF charges 0.20% annually. There are 4 ETFs in the Money Market category with lower expense ratios, going as low as 0.15%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| ProShares GENIUS Money Market ETF | 0.15% | 18.19B | Feb 2026 | GMMF vs IQMM | |
| Simplify Government Money Market ETF | 0.15% | 5.02B | Jul 2025 | GMMF vs SBIL | |
| JPMorgan 100% U.S. Treasury Securities Money Marke... | 0.16% | 67.07M | Dec 2025 | GMMF vs JMMF | |
| State Street Prime Money Market ETF | 0.18% | 28.04M | Feb 2026 | GMMF vs MMK | |
| Texas Capital Government Money Market ETF | 0.20% | 62.65M | Sep 2024 | GMMF vs MMKT |
Best Risk-Adjusted Alternatives to GMMF
GMMF has a PortfoliosLab risk / return rank of 100. No ETFs in the Money Market category have higher risk-adjusted ranks; the top alternatives shown here go as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| iShares Prime Money Market ETF | 100 | 650.83M | Feb 2025 | GMMF vs PMMF | |
| Schwab Government Money Market ETF | 100 | 806.19M | Jun 2025 | GMMF vs SGVT | |
| Texas Capital Government Money Market ETF | 100 | 62.65M | Sep 2024 | GMMF vs MMKT | |
| Simplify Government Money Market ETF | 100 | 5.02B | Jul 2025 | GMMF vs SBIL | |
| Columbia Multi-Sector Municipal Income ETF | 48 | 591.94M | Oct 2018 | GMMF vs MUST |
Top Performing GMMF Alternatives (YTD)
GMMF is at 1.92% YTD. There are 4 ETFs in the Money Market category with higher YTD returns, going as high as 16.72%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leadershares Alphafactor Tactical Focused ETF | 16.72% | 61.78M | Oct 2020 | GMMF vs LSAT | |
| iShares Prime Money Market ETF | 1.99% | 650.83M | Feb 2025 | GMMF vs PMMF | |
| Simplify Government Money Market ETF | 1.98% | 5.02B | Jul 2025 | GMMF vs SBIL | |
| JPMorgan 100% U.S. Treasury Securities Money Marke... | 1.93% | 67.07M | Dec 2025 | GMMF vs JMMF | |
| Texas Capital Government Money Market ETF | 1.90% | 62.65M | Sep 2024 | GMMF vs MMKT |
Lowest Volatility Alternatives to GMMF
GMMF has 0.20% 1-year volatility. There are 2 ETFs in the Money Market category with lower 1-year volatility, going as low as 0.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| State Street Prime Money Market ETF | 0.18% | 28.04M | Feb 2026 | GMMF vs MMK | |
| iShares Prime Money Market ETF | 0.19% | 650.83M | Feb 2025 | GMMF vs PMMF | |
| Texas Capital Government Money Market ETF | 0.22% | 62.65M | Sep 2024 | GMMF vs MMKT | |
| Schwab Government Money Market ETF | 0.22% | 806.19M | Jun 2025 | GMMF vs SGVT | |
| ProShares GENIUS Money Market ETF | 0.23% | 18.19B | Feb 2026 | GMMF vs IQMM |
Lowest Drawdown Alternatives to GMMF
GMMF has a 1-year max drawdown of -0.01%. No ETFs in the Money Market category have shallower 1-year drawdowns; the lowest-drawdown alternatives shown here go as shallow as -0.02%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Texas Capital Government Money Market ETF | -0.02% | 62.65M | Sep 2024 | GMMF vs MMKT | |
| iShares Prime Money Market ETF | -0.02% | 650.83M | Feb 2025 | GMMF vs PMMF | |
| Schwab Government Money Market ETF | -0.03% | 806.19M | Jun 2025 | GMMF vs SGVT | |
| Simplify Government Money Market ETF | -0.03% | 5.02B | Jul 2025 | GMMF vs SBIL | |
| Columbia Multi-Sector Municipal Income ETF | -3.01% | 591.94M | Oct 2018 | GMMF vs MUST |
Other ETFs from iShares
The 10 most viewed iShares ETFs shown here include SGOV, IBIT, SOXX and span 14 categories. AUM among these funds goes as high as $880B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| iShares 0-3 Month Treasury Bond ETF | Ultrashort Bond | 100 | 2.00% | 98.56B | May 2020 | GMMF vs SGOV | |
| iShares Bitcoin Trust ETF | Cryptocurrency | 2 | -24.13% | 47.12B | Jan 2024 | GMMF vs IBIT | |
| iShares Semiconductor ETF | Semiconductors, Technology Equities | 93 | 83.73% | 45.06B | Jul 2001 | GMMF vs SOXX | |
| iShares Core S&P 500 ETF | S&P 500 | 67 | 10.37% | 880.32B | May 2000 | GMMF vs IVV | |
| iShares Core Dividend Growth ETF | Large Cap Growth Equities, Dividend | 87 | 11.72% | 42.19B | Jun 2014 | GMMF vs DGRO | |
| iShares 20+ Year Treasury Bond ETF | Government Bonds, Long-Term Bond | 13 | -1.84% | 42.81B | Jul 2002 | GMMF vs TLT | |
| iShares Silver Trust | Silver, Precious Metals | 30 | -17.60% | 26.77B | Apr 2006 | GMMF vs SLV | |
| iShares Gold Trust | Gold, Precious Metals | 25 | -5.36% | 59.26B | Jan 2005 | GMMF vs IAU | |
| iShares Russell 2000 ETF | Small Cap Blend Equities | 77 | 20.97% | 82.12B | May 2000 | GMMF vs IWM | |
| iShares MSCI ACWI ETF | Global Equities | 66 | 11.18% | 32.80B | Mar 2008 | GMMF vs ACWI |
Compare GMMF with Any Fund or Stock
Compare GMMF with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair GMMF with funds that move differently
iShares Government Money Market ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to GMMF.
Explore GMMF Diversifiers