MMKT vs. VGVT

Last updated Jun 4, 2026

MMKT (Texas Capital Government Money Market ETF) and VGVT (Vanguard Government Securities Active ETF) are both exchange-traded funds - MMKT is a Money Market fund actively managed by Texas Capital, while VGVT is a Intermediate Core Bond fund actively managed by Vanguard. Both are actively managed. At a 0.01 correlation, their price movements are largely independent. MMKT charges 0.20%/yr vs 0.10%/yr for VGVT.

Performance

MMKT vs. VGVT - Performance Comparison

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

Returns By Period

In the year-to-date period, MMKT achieves a 1.44% return, which is significantly higher than VGVT's 0.11% return.

MMKT

• 1D: 0.01%
• 1M: 0.28%
• YTD: 1.44%
• 6M: 1.76%
• 1Y: 3.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGVT

• 1D: -0.15%
• 1M: 0.17%
• YTD: 0.11%
• 6M: 0.10%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMKT vs. VGVT - Yearly Performance Comparison

	2026 (YTD)	2025
MMKT Texas Capital Government Money Market ETF	1.44%	1.94%
VGVT Vanguard Government Securities Active ETF	0.11%	3.28%

Correlation

The correlation between MMKT and VGVT is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.01

Return for Risk

MMKT vs. VGVT — Risk / Return Rank

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

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.

MMKT vs. VGVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Government Money Market ETF (MMKT) and Vanguard Government Securities Active ETF (VGVT). 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.

	MMKT	VGVT	Difference
Sharpe ratio: Return per unit of total volatility	16.49	—	—
Sortino ratio: Return per unit of downside risk	62.61	—	—
Omega ratio: Gain probability vs. loss probability	15.14	—	—
Calmar ratio: Return relative to maximum drawdown	153.44	—	—
Martin ratio: Return relative to average drawdown	910.67	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MMKT	VGVT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	16.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	17.60	1.17	+16.43

Drawdowns

MMKT vs. VGVT - Drawdown Comparison

The maximum MMKT drawdown since its inception was -0.04%, smaller than the maximum VGVT drawdown of -2.77%. Use the drawdown chart below to compare losses from any high point for MMKT and VGVT.

Drawdown Indicators

	MMKT	VGVT	Difference
Max Drawdown Largest peak-to-trough decline	-0.04%	-2.77%	+2.73%
Max Drawdown (1Y) Largest decline over 1 year	-0.02%	—	—
Current Drawdown Current decline from peak	0.00%	-1.76%	+1.76%
Average Drawdown Average peak-to-trough decline	-0.00%	-0.67%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	—	—

Volatility

Volatility by Period

	MMKT	VGVT	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.13%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	0.23%	3.22%	-2.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.23%	3.22%	-2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.23%	3.22%	-2.99%

MMKT vs. VGVT - Expense Ratio Comparison

MMKT has a 0.20% expense ratio, which is higher than VGVT's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MMKT vs. VGVT - Dividend Comparison

MMKT's dividend yield for the trailing twelve months is around 3.73%, less than VGVT's 3.99% yield.

Position	TTM	2025	2024
MMKT Texas Capital Government Money Market ETF	3.73%	3.98%	1.07%
VGVT Vanguard Government Securities Active ETF	3.99%	2.29%	0.00%

Frequently Asked Questions

Can I hold both MMKT and VGVT in my portfolio?

MMKT and VGVT have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MMKT or VGVT?

On fees, VGVT is cheaper at 0.10% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMKT or VGVT?

VGVT is cheaper with a 0.10% expense ratio, compared with 0.20% for MMKT.

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

VGVT has the higher dividend yield at 3.99%, compared with 3.73% for MMKT.

What is the main difference between MMKT and VGVT?

MMKT is categorized as Money Market, while VGVT is Intermediate Core Bond. They also come from different issuers: Texas Capital and Vanguard. Their fees differ too: 0.20% for MMKT and 0.10% for VGVT.