Exchange traded fund (ETF) provider WisdomTree has stepped into the actively managed fund ring with a money market ETF.
The WisdomTree U.S. Current Income Fund (USY) launched on the NYSE Arca on Tuesday, reports the Earth Times.
USY will seek to earn extra income, while preserving capital and giving liquidity by investing in the short term, high-quality money market instruments in U.S. dollars. WisdomTree says the fund is not a "money market" fund, however, and it is not the objective of the fund to maintain a constant share price.
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