WisdomTree Current Income Fund (USY) launched in May of this year, and while it is not a money market fund, it acts as one. The ETF is conservative and is run by Mellon Capital, a specialist for money market funds. The fund holds treasuries, agencies and commercial paper and repos. The fund has no exposure to Lehman Brothers, AIG, WAMU, Merrill Lynch, Morgan Stanley or Goldman Sachs.
Exposure to short term Treasury bills and agency notes will occur if need be. Furthermore, the ETF pays a monthly dividend.
Since its inception on May 22, it’s up .24%.
