Investors may also consider actively managed options. For instance, the Guggenheim Enhanced Short Duration Bond ETF (NYSEArca: GSY) follows an investment objective and strategy that is similar to an actively managed money market ETF as it targets a variety of securities, such as government, commercial paper, corporate bonds, asset backed, high yield and munis, with low residual maturities. The fund tries to outperform the Barclays 1-3 Month U.S. Treasury Bill Index. GSY has a 0.24 year duration, a 0.27% expense ratio and a 0.43% 30-day SEC yield.
Lastly, the PIMCO Enhanced Short Maturity Strategy Fund ETF (NYSEArca: MINT) is an actively managed ETF that tries to outperform the broader money market through securities with short-term maturities. However, in order to generate a higher performance, the fund will include companies with lower credit qualities. The fund has a higher 1 year effective duration, a 0.35% expense ratio and a 0.98% 30-day SEC yield.
For more information on ETFs and the money market, visit our money markets category.
Max Chen contributed to this article.