New York Stock Exchange · ETF
Invest in MMK ETF from India
Indian and foreign residents can buy State Street Prime Money Market ETF (MMK) units directly through Paasa.
By Paasa · Updated
MMK at a glance
- Price
- $100.27+$0.00 (0.00%)
- Expense ratio
- 0.18%
- Day range
- $100.27 – $100.27
- Assets
- $29.1M
- Domicile
- the US
- Holdings
- 45
- Launched
- 2026
- Dividends
- Distributing
Top 10 holdings
- 1US DOLLAR32.0%
- 2VERTO CAP I COMPARTMENT 10/26 ZCP2.1%
- 3ANGLESEA FDG PLC + ANG1.7%
- 4BARCLAYS BANK UK1.7%
- 5MACKINAC FUNDING1.5%
- 6VERTO CAP I 144A DISC COML PAP 11/26 ZCP1.4%
- 7BPCE1.3%
- 8BANK MONTREAL CHICAGO BRH1.2%
- 9NORDEA BANK ABP1.2%
- 10HSBC BANK PLC1.2%
MMK holds 45 securities in total. These 10 are 45.3% of the fund.
Where the money is invested
Countries
- Other92.7%
- United States7.3%
Similar funds
| Fund | Expense ratio | Assets |
|---|---|---|
| PMMFNYSEiShares Prime Money Market ETF | 0.2% | 750.9M |
Assets are shown in each fund's own reporting currency.
How to invest in MMK from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search MMK and buy
Find the fund by its ticker, MMK, on the New York Stock Exchange, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Why invest in MMK from India
What MMK holds
MMK seeks to maximize current income while maintaining capital preservation and liquidity by broadly investing in money market instruments. The actively managed fund employs its credit research team to assess the relative attractiveness of instruments based on the general interest rates and market supply/demand imbalances.
Hold a dollar asset
MMK is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one MMK unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy MMK from India?
Yes. Indian residents can buy State Street Prime Money Market ETF (MMK) through Paasa. It is listed on the New York Stock Exchange and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does MMK invest in?
State Street Prime Money Market ETF holds 45 securities. Its largest holdings are US DOLLAR (32.0%), VERTO CAP I COMPARTMENT 10/26 ZCP (2.1%) and ANGLESEA FDG PLC + ANG (1.7%). It is a distributing fund domiciled in the US.
What is the expense ratio of MMK?
State Street Prime Money Market ETF has an expense ratio of 0.18% a year, taken from the fund's assets rather than billed to you. The fund manages about $29.1M.
How are MMK dividends taxed in India?
State Street Prime Money Market ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. The US withholds 25% tax on dividends before they reach you; Paasa files Form W-8BEN for you, and the tax withheld can generally be claimed as a credit when you file in India. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell MMK?
The US does not levy capital gains tax on shares for Indian residents. In India, gains on foreign ETF units held for more than 24 months are long-term and taxed at 12.5% without indexation, and gains on units held for 24 months or less are short-term and taxed at your income-tax slab rate. Both are worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one MMK unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $100.27, and there is no minimum trade size.
What happens to my MMK units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.