Texas Capital Government Money Market ETF (MMKT)
Texas Capital Government Money Market ETF (MMKT)
Fund Details
INCEPTION DATE | exchange | TICKER | CUSIP | TYPE | 7 Day Yield as-of | EXPENSE RATIO |
|---|---|---|---|---|---|---|
SEPTEMBER 24, 2024 | NYSE | MMKT | 88224A508 | Government Money Market | <etf_mmkt_SevenDayYield_1315></etf_mmkt_SevenDayYield_1315>% | 0.20% |
Fund Objective
The Texas Capital Government Money Market ETF (the “Fund”) seeks to provide as high a level of current interest income as is consistent with maintaining liquidity and stability of principal.
Strategy
The Fund is a government money market ETF that invests 99.5% of the fund’s total assets in cash, U.S. government securities, which may include fixed, floating and variable rate securities, as well as repurchase agreements collateralized fully by U.S. government securities or cash. The Fund will comply with SEC rules applicable to all money market funds, including Rule 2a-7 under the Investment Company Act of 1940.
Fund Management
Texas Capital Bank Private Wealth Advisors acts as the investment adviser. As investment adviser, the Adviser makes the Fund’s investment decisions. The Adviser selects eligible government money market instruments for the Fund based on its assessment of relative values and changes in market and economic conditions.
The Adviser considers safety of principal and liquidity in selecting securities for the Fund and thus may not buy securities that pay the highest yield.
Fund Filings
Pursuant to Rule 30b1-7 under the Investment Company Act of 1940, as amended, our Form N-MFP monthly filings are available by clicking on the enclosed link.
Daily Statistics
| Nav | market closing price | premium/discount | 30-day median bid/ask spread |
|---|---|---|---|
| <etf_MMKT_naV_NoLoad/> | <etf_mmkt_marketPrice/> | <etf_mmkt_premiumDiscount/> |
Historical Premium/Discount
| Term | YTD | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 |
|---|---|---|---|---|---|
| Days at premium | <etf_mmkt_2024_daysatpremium> | <etf_mmkt_2023q4_daysatpremium> | <etf_mmkt_2024q1_daysatpremium> | <etf_mmkt_2024q2_daysatpremium> | <etf_mmkt_2024q3_daysatpremium> |
| Days at discount | <etf_mmkt_2024_daysatdiscount> | <etf_mmkt_2023q4_daysatdiscount> | <etf_mmkt_2024q1_daysatdiscount> | <etf_mmkt_2024q2_daysatdiscount> | <etf_mmkt_2024q3_daysatdiscount> |
Performance
| Performance as of <etf_mmkt_performDate></etf_mmkt_performDate> (%) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Term | 1 Day | 1 Mo | 3 Mo | 6 Mo | 1 Yr | QTD (Current) | YTD | Since Inception1 |
| NAV | <etf_mmkt_oneDay_NoLoad></etf_mmkt_oneDay_NoLoad> | <etf_mmkt_oneMonth_NoLoad></etf_mmkt_oneMonth_NoLoad> | <etf_mmkt_threeMonth_NoLoad></etf_mmkt_threeMonth_NoLoad> | <etf_mmkt_sixMonth_NoLoad></etf_mmkt_sixMonth_NoLoad> | <etf_mmkt_oneYear_NoLoad></etf_mmkt_oneYear_NoLoad> | <etf_mmkt_quarterEndToDate_NoLoad></etf_mmkt_quarterEndToDate_NoLoad> | <etf_mmkt_yearToDate_NoLoad></etf_mmkt_yearToDate_NoLoad> | <etf_mmkt_sinceInception_NoLoad></etf_mmkt_sinceInception_NoLoad> |
| Closing Market Price | <etf_mmkt_marketOneDay></etf_mmkt_marketOneDay> | <etf_mmkt_marketOneMonth></etf_mmkt_marketOneMonth> | <etf_mmkt_marketThreeMonth></etf_mmkt_marketThreeMonth> | <etf_mmkt_marketSixMonth></etf_mmkt_marketSixMonth> | <etf_mmkt_marketYear></etf_mmkt_marketYear> | <etf_mmkt_marketQuarterEndToDate></etf_mmkt_marketQuarterEndToDate> | <etf_mmkt_marketYearToDate></etf_mmkt_marketYearToDate> | <etf_mmkt_marketinception></etf_mmkt_marketinception> |
| FTSE U.S. 1 - 3 month T-Bill | <etf_mmkt_oneDay_USTBILL13MUSD></etf_mmkt_oneDay_USTBILL13MUSD> | <etf_mmkt_oneMonth_USTBILL13MUSD></etf_mmkt_oneMonth_USTBILL13MUSD> | <etf_mmkt_threeMonth_USTBILL13MUSD></etf_mmkt_threeMonth_USTBILL13MUSD> | <etf_mmkt_sixMonth_USTBILL13MUSD></etf_mmkt_sixMonth_USTBILL13MUSD> | <etf_mmkt_oneYear_USTBILL13MUSD></etf_mmkt_oneYear_USTBILL13MUSD> | <etf_mmkt_quarterEndToDate_USTBILL13MUSD></etf_mmkt_quarterEndToDate_USTBILL13MUSD> | <etf_mmkt_yearToDate_USTBILL13MUSD></etf_mmkt_yearToDate_USTBILL13MUSD> | <etf_mmkt_sinceInception_Ann_USTBILL13MUSD/></etf_mmkt_sinceInception_Ann_USTBILL13MUSD> |
The current 7-Day Yield as of <etf_TXS_performDate></etf_TXS_performDate> is <etf_mmkt_SevenDayYield_1315></etf_mmkt_SevenDayYield_1315>%. The 7-Day Yield is the average income paid out over the previous seven days assuming net expenses and no reinvestment of interest income. This yield more closely reflects current earnings than does the total return.
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Investors may obtain performance data current to the most recent month-end by calling 844.822.3837.
The FTSE 1-3 Month US T-Bill Index Series is intended to track the daily performance of 1-3 month US Treasury bills. The indices are designed to operate as a reference rate for a series of funds. Indices are unmanaged and it is not possible to invest directly in an index.
| Quarter-End Performance as of <etf_mmkt_quarterly_performDate></etf_mmkt_quarterly_performDate> (%) | |||
|---|---|---|---|
| Term | QTR | 1 YR | Since Inception1 |
| NAV | <etf_mmkt_quarterly_quarterEndToDate_NoLoad></etf_mmkt_quarterly_quarterEndToDate_NoLoad> | <etf_mmkt_quarterly_oneYear_NoLoad></etf_mmkt_quarterly_oneYear_NoLoad> | <etf_mmkt_quarterly_sinceInception_NoLoad></etf_mmkt_quarterly_sinceInception_NoLoad> |
| Closing Market Price | <etf_mmkt_quarterly_marketQuarterEndToDate></etf_mmkt_quarterly_marketQuarterEndToDate> | <etf_mmkt_quarterly_market_Year></etf_mmkt_quarterly_market_Year> | <etf_mmkt_quarterly_marketinception></etf_mmkt_quarterly_marketinception> |
| FTSE U.S. 1 - 3 month T-Bill | <etf_mmkt_quarterly_quarterEndToDate_USTBILL13MUSD></etf_mmkt_quarterly_quarterEndToDate_USTBILL13MUSD> | <etf_mmkt_quarterly_oneYear_USTBILL13MUSD></etf_mmkt_quarterly_oneYear_USTBILL13MUSD> | <etf_mmkt_quarterly_sinceInception_Ann_USTBILL13MUSD></etf_mmkt_quarterly_sinceInception_Ann_USTBILL13MUSD> |
The current 7-Day Yield as of <etf_TXS_performDate></etf_TXS_performDate> is <etf_mmkt_SevenDayYield_1315></etf_mmkt_SevenDayYield_1315>%. The 7-Day Yield is the average income paid out over the previous seven days assuming net expenses and no reinvestment of interest income. This yield more closely reflects current earnings than does the total return.
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Investors may obtain performance data current to the most recent month-end by calling 844.822.3837.
The FTSE 1-3 Month US T-Bill Index Series is intended to track the daily performance of 1-3 month US Treasury bills. The indices are designed to operate as a reference rate for a series of funds. Indices are unmanaged and it is not possible to invest directly in an index.
Performance
| Performance as of <etf_txs_performDate></etf_txs_performDate> (%) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Term | 1 Day | 1 Mo. | 3 Mo | 6 Mo | 1 Yr. | QTD (Current) | YTD | Since Inception |
| NAV | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] |
| Closing Market Price | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] |
| FTSE U.S. 1 - 3 month T-Bill | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] |
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Investors may obtain performance data current to the most recent month-end by calling 844.822.3837.
| Quarter-End Performance as of <etf_txs_quarterly_performDate></etf_txs_quarterly_performDate> (%) | ||||
|---|---|---|---|---|
| Term | 7-Day Current Yield | QTR | 1 Yr. | Since Inception |
| NAV | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] |
| Closing Market Price | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] |
| FTSE U.S. 1 - 3 month T-Bill | [need ultimus data] | [need ultimus data] | [need ultimus data] | [need ultimus data] |
Fund Management
Investment Adviser: Texas Capital Bank Private Wealth Advisors
Administrator and Fund Accountant: Ultimus Fund Solutions, LLC.
Distributor: Northern Lights Distributors, LLC
Portfolio Manager: J. Steven Orr, Chief Investment Officer
Mr. Orr is responsible for the strategy, construction, and performance of client portfolios and trusts. With over 30 years of portfolio management experience, Steven joined Texas Capital Bank in 2013 from Communities Foundation of Texas, where he had managed investments and helped raise the Foundation’s performance to among the highest in their peer groups of universities and foundations. Prior to his work at Communities Foundation, he successfully ran insurance and arbitrage portfolios for Associates First Capital totaling $4 billion, as well as mutual fund bond and insurance and portfolios at Caterpillar, Inc. Steven earned his Bachelor of Arts in Economics and a minor and Math from the University of Texas at Austin, a Master in Business from Texas State, and a Juris Doctorate from St. Mary’s School of Law. He is an attorney and a CFA® and CMT® Charter holder.
Portfolio Manager: Carlos Pena, Vice President
Mr. Pena joined Texas Capital in August 2023, bringing to his role more than 11 years of experience in financial services and investment management. Previously, he served as a portfolio strategist at State Farm where he was a member of the State Farm Investment Management team and responsible for establishing the firm’s investment management infrastructure and the construction of model portfolios using both passive and active strategies. Prior, Mr. Pena served as a fixed income portfolio manager at Wells Fargo where he was responsible for $900 million in customized actively managed SMA portfolios across taxable and tax-exempt strategies. He has also held roles at JPMorgan Corporate & Investment Bank and United Capital. Mr. Pena earned a Bachelor of Business Administration in finance and international business at the University of North Texas. He holds the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations.
Top 10 Holdings
| Portfolio Holdings as of <etf_MMKT_performDate/> | |||
|---|---|---|---|
| description | Sector | Par Value | Portfolio Weight (%) |
| <etf_MMKT_securityDescriptionLong_1/> | <ETF_mmkt_industry_1/> | <ETF_mmkt_sharesHeldOfSecurity_1/> | <ETF_mmkt_netAssetsPercentage_1/> |
| <etf_mmkt_securityDescriptionLong_2/> | <ETF_mmkt_industry_2/> | <ETF_mmkt_sharesHeldOfSecurity_2/> | <ETF_mmkt_netAssetsPercentage_2/> |
| <etf_mmkt_securityDescriptionLong_3/> | <ETF_mmkt_industry_3/> | <ETF_mmkt_sharesHeldOfSecurity_3/> | <ETF_mmkt_netAssetsPercentage_3/> |
| <etf_mmkt_securityDescriptionLong_4/> | <ETF_mmkt_industry_4/> | <ETF_mmkt_sharesHeldOfSecurity_4/> | <ETF_mmkt_netAssetsPercentage_4/> |
| <etf_mmkt_securityDescriptionLong_5/> | <ETF_mmkt_industry_5/> | <ETF_mmkt_sharesHeldOfSecurity_5/> | <ETF_mmkt_netAssetsPercentage_5/> |
| <etf_mmkt_securityDescriptionLong_6/> | <ETF_mmkt_industry_6/> | <ETF_mmkt_sharesHeldOfSecurity_6/> | <ETF_mmkt_netAssetsPercentage_6/> |
| <etf_mmkt_securityDescriptionLong_7/> | <ETF_mmkt_industry_7/> | <ETF_mmkt_sharesHeldOfSecurity_7/> | <ETF_mmkt_netAssetsPercentage_7/> |
| <etf_mmkt_securityDescriptionLong_8/> | <ETF_mmkt_industry_8/> | <ETF_mmkt_sharesHeldOfSecurity_8/> | <ETF_mmkt_netAssetsPercentage_8/> |
| <etf_mmkt_securityDescriptionLong_9/> | <ETF_mmkt_industry_9/> | <ETF_mmkt_sharesHeldOfSecurity_9/> | <ETF_mmkt_netAssetsPercentage_9/> |
| <etf_MMKt_securityDescriptionLong_10/> | <ETF_mmkt_industry_10/> | <ETF_mmkt_sharesHeldOfSecurity_10/> | <ETF_mmkt_netAssetsPercentage_10/> |
Holdings are subject to change and do not constitute a recommendation or solicitation to buy or sell a particular security. Current and future portfolio holdings are subject to risk.
Documents
- Prospectus
- Summary Prospectus
- Statement of Additional Information (SAI)
- Fund Overview
- Securities and Exchange Commission
- Money Market ETF Information Disclosures (Rule 2a-7 Part 1)
- Portfolio Holdings (Rule 2a-7 Part 2)
- Download Full Holdings
- Form N-CSR
Money market funds do not hold voting shares of securities. Form N-PX is therefore not applicable.
Documents
- Prospectus
- Summary Prospectus
- Statement of Additional Information (SAI)
- Fund Overview
- Securities and Exchange Commission
- Money Market ETF Information Disclosures (Rule 2a-7 Part 1)
- Portfolio Holdings (Rule 2a-7 Part 2)
- Download Full Holdings
- Form N-CSR
- Q3 2024 Schedule of Investments
Money market funds do not hold voting shares of securities. Form N-PX is therefore not applicable.
Have further questions?
Chat with one of our dedicated specialists or call us at 844.TCB.ETFS (844.822.3837) to learn more about our funds management services.
1The inception date is September 24, 2024
Investors should carefully consider the investment objectives, risks, and charges of the fund before investing. The prospectus contains this information and other information about the fund, and it should be read carefully before investing. Investors can obtain a copy of the prospectus by calling 844.TCB.ETFS (844.822.3837).
Although the Fund will seek to qualify as a “government money market fund”, it will not seek to maintain a stable net asset value (“NAV”) per share using the amortized cost method of valuation. Instead, the Fund will calculate its NAV per share based on the market value of its investments. In addition, unlike a traditional money market fund, the Fund operates as an exchange traded fund (“ETF”). As an ETF, the Fund’s shares will be traded on the Exchange and will generally fluctuate in accordance with changes in NAV as well as the relative supply of, and demand for, Shares on the Exchange. You could lose money by investment in the Fund. Because the share price and NAV of the Fund will fluctuate, when shares are sold on the Exchange (or redeemed, in the case of an Authorized Participant), they may be worth more or less than what was originally paid for them.
Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares of ETFs are bought and sold at market price, which may be higher or lower than the net asset value (NAV).
This website should not be considered a solicitation to buy or an offer to sell shares of any investment in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction. Nothing on this website is intended to be investment, tax, financial or legal advice.
Not a Deposit. Not FDIC Insured. Not Guaranteed by the Bank. May Lose Value. Not Insured by any Federal Government Agency.
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Investors may obtain performance data current to the most recent month-end by calling 844.TCB.ETFS (844.822.3837).
There are risks involved with investing in ETFs, including possible loss of money. Ordinary brokerage commissions apply. The Fund’s return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.
Texas Capital Bank Wealth Management Services, Inc. d/b/a Texas Capital Bank Private Wealth Advisors (“PWA”), a wholly owned subsidiary of Texas Capital Bank serves as investment adviser to Texas Capital Funds Trust (a Delaware statutory trust formed in 2023 and registered as an open-end management investment company under the Investment Company Act of 1940) for its funds (the “Funds”) and is paid a fee for its services. Shares of the Funds are not deposits or obligations of, or guaranteed or endorsed by, Texas Capital Bank or its affiliates. The Funds are not insured by the FDIC or any other government agency. The Funds are distributed by Northern Lights Distributors, LLC, member FINRA/SIPC, which is not affiliated with Texas Capital Bank Private Wealth Advisors.
The Fund is distributed by Northern Lights Distributors, LLC, member FINRA/SIPC, which is not affiliated with Texas Capital Bank Private Wealth Advisors.