ETF Education Report: TEXAS CAPITAL GOVERNMENT MONEY MARKET ETF (MMKT)

What this ETF is trying to do

The TEXAS CAPITAL GOVERNMENT MONEY MARKET ETF (MMKT) is an exchange-traded fund. Based on its name, it focuses on government money market instruments. These types of funds are often used by investors looking for a place to hold cash.

What the numbers show

As of August 26, 2026, the current price of the ETF is $100.23. We can estimate that the price roughly one year ago was approximately $100.22.

When looking at how the fund has performed, it is important to look at two different numbers:

• Price Return: This measures only the change in the share price. The one-year price return was approximately 1.00%, and the year-to-date (YTD) price return was approximately 1.10%.

• Total Return: This includes both the share price changes and the distributions (cash payments). According to the data, the one-year total return was approximately 3.69%, and the YTD total return was approximately 2.27%.

Income and distribution explanation

This ETF provides regular cash payments, known as distributions. The distribution yield is approximately 3.61%. This number describes the cash payments relative to the ETF's price.

The data shows that these distributions are very frequent, occurring about 52 times over the last 12 months (mostly on Fridays). While these payments provide cash income, they do not guarantee that your original investment (your principal) will stay the same value.

NAV erosion explanation

"NAV" stands for Net Asset Value, which is the actual value of the assets held by the fund. "NAV erosion" happens when the value of those underlying assets drops over time.

For this ETF, the erosion-risk score is 94, which is labeled as "Stable / sideways." This means the risk of the fund's value dropping significantly is considered low or "good." There is no severe erosion-risk flag for this ETF.

Top Holdings

The following is a list of the Top Holdings for this fund (as of August 28, 2026):

• STATE STREET INSTL US GOVT MMKT OPP: 1.51%

Please note that holdings can change over time.

Pros

• The ETF shows a history of frequent cash distributions.

• The erosion-risk score suggests the fund has been stable or "sideways" rather than declining sharply.

Cons

• The share price itself does not grow very much; most of the total return comes from the distributions rather than the price increasing.

Beginner takeaway

When looking at ETFs that pay regular income, remember that a high distribution yield is not the same thing as total return. It is important to look at both the share-price movement and the total return to see how the fund is actually performing. For many income investors, a fund that stays "sideways" (meaning the price stays relatively steady) is often preferred over a fund where the price drops quickly.