State Street Investment Management announced that its SPDR Portfolio S&P 500 ETF, ticker SPYM, has been selected by the U.S. Department of the Treasury as the exclusive default ETF for Trump Accounts, a new national initiative to help children begin investing early. SPYM is the lowest-cost S&P 500 ETF in the market, with an expense ratio of 2 basis points per year, and is designed to provide broad exposure to the largest publicly traded U.S. companies. The Treasury-administered program, established under the Working Families Tax Cut Act, will launch on July 4, 2026, and will give children under 18 access to tax-advantaged investment accounts. Eligible children born between January 1, 2025 and December 31, 2028 will receive a one-time $1,000 contribution from the Treasury, and individuals may contribute up to $5,000 per year to a Trump Account, with all eligible contributions invested in SPYM by default.
State Street CorpSPYM selected as exclusive default ETF for Trump Accounts, driving significant new assets under management.
State Street Investment Management's SPYM chosen as exclusive default ETF, boosting AUM and fee revenue.