MMK vs. MMKT

Last updated Jul 4, 2026

MMK (State Street Prime Money Market ETF) and MMKT (Texas Capital Government Money Market ETF) are both Money Market funds. Both are actively managed. At a 0.43 correlation, their price movements are largely independent. MMK charges 0.18%/yr vs 0.20%/yr for MMKT.

Performance

MMK vs. MMKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Prime Money Market ETF (MMK) and Texas Capital Government Money Market ETF (MMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MMK

• 1D: 0.03%
• 1M: 0.31%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MMKT

• 1D: 0.02%
• 1M: 0.29%
• 6M: 1.71%
• YTD: 1.74%
• 1Y: 3.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MMK vs. MMKT - Yearly Performance Comparison

	2026 (YTD)
MMK State Street Prime Money Market ETF	1.41%
MMKT Texas Capital Government Money Market ETF	1.35%

Correlation

The correlation between MMK and MMKT is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 12, 2026	0.43

Return for Risk

MMK vs. MMKT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MMK

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MMK vs. MMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Prime Money Market ETF (MMK) and Texas Capital Government Money Market ETF (MMKT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MMK	MMKT	Difference
Sharpe ratio: Return per unit of total volatility	—	16.81	—
Sortino ratio: Return per unit of downside risk	—	63.17	—
Omega ratio: Gain probability vs. loss probability	—	15.87	—
Calmar ratio: Return relative to maximum drawdown	—	152.56	—
Martin ratio: Return relative to average drawdown	—	916.23	—

Drawdowns

MMK vs. MMKT - Drawdown Comparison

The maximum MMK drawdown since its inception was -0.01%, smaller than the maximum MMKT drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for MMK and MMKT.

Drawdown Indicators

	MMK	MMKT	Difference
Max Drawdown Largest peak-to-trough decline	-0.01%	-0.04%	+0.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.02%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.00%	—

Volatility

Volatility by Period

	MMK	MMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.13%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.18%	0.23%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.18%	0.23%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.18%	0.23%	-0.05%

MMK vs. MMKT - Expense Ratio Comparison

MMK has a 0.18% expense ratio, which is lower than MMKT's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MMK vs. MMKT - Dividend Comparison

MMK's dividend yield for the trailing twelve months is around 1.38%, less than MMKT's 3.70% yield.

Position	TTM	2025	2024
MMK State Street Prime Money Market ETF	1.38%	0.00%	0.00%
MMKT Texas Capital Government Money Market ETF	3.70%	3.98%	1.07%

Frequently Asked Questions

Can I hold both MMK and MMKT in my portfolio?

MMK and MMKT have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MMK or MMKT?

On fees, MMK is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMK or MMKT?

MMK is cheaper with a 0.18% expense ratio, compared with 0.20% for MMKT.

Which ETF pays a higher dividend yield, MMK or MMKT?

MMKT has the higher dividend yield at 3.70%, compared with 1.38% for MMK.

What is the main difference between MMK and MMKT?

They also come from different issuers: State Street and Texas Capital. Their fees differ too: 0.18% for MMK and 0.20% for MMKT.