New York Stock Exchange · ETF
Invest in MMKT ETF from India
Indian and foreign residents can buy Texas Capital Government Money Market ETF (MMKT) units directly through Paasa.
By Paasa · Updated
MMKT at a glance
- Price
- $100.17+$0.02 (0.02%)
- Expense ratio
- 0.2%
- Day range
- $100.17 – $100.18
- Assets
- $67.6M
- Domicile
- the US
- Holdings
- —
- Launched
- 2024
- Dividends
- Distributing
- 1 month
- -0.03%
- 6 months
- -0.02%
- YTD
- -0.04%
- 1 year
- -0.05%
- 5 years
- —
Price change, excluding dividends.
Top 10 holdings
- 1US DOLLARS46.5%
- 2B 12/22/265.1%
- 3TF FLOAT 01/31/274.1%
- 4B 03/18/273.8%
- 5B 10/22/263.7%
- 6B 10/29/263.5%
- 7B 12/01/263.4%
- 8B 03/04/273.3%
- 9B 11/12/262.7%
- 10B 12/17/262.6%
These 10 are 78.9% of the fund.
How to invest in MMKT 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 MMKT and buy
Find the fund by its ticker, MMKT, 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 MMKT from India
What MMKT holds
The Texas Capital Government Money Market ETF (MMKT) stands as the first exchange-traded fund structured to adhere to Rule 2a-7 of the 1940 Act, thereby qualifying it as a government money market fund. This specific regulatory framework is designed to bolster the fund's stability and liquidity, ensuring that redemption requests can be met without issue.
Hold a dollar asset
MMKT 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 MMKT 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 MMKT from India?
Yes. Indian residents can buy Texas Capital Government Money Market ETF (MMKT) 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 MMKT invest in?
Its largest holdings are US DOLLARS (46.5%), B 12/22/26 (5.1%) and TF FLOAT 01/31/27 (4.1%). It is a distributing fund domiciled in the US.
What is the expense ratio of MMKT?
Texas Capital Government Money Market ETF has an expense ratio of 0.2% a year, taken from the fund's assets rather than billed to you. The fund manages about $67.6M.
How are MMKT dividends taxed in India?
Texas Capital Government Money Market ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. 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 MMKT?
The US does not levy capital gains tax on shares for Indian residents. Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is 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 MMKT unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $100.17, and there is no minimum trade size.
What happens to my MMKT 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.