STOCKS | U.S. Treasury Names Default ETF Lineup for “Trump Account” Portfolio

The U.S. Treasury Department announced the investment lineup for the “Trump Account,” including an initial default option at launch and four additional low-cost index fund choices that participants may be able to select in the coming months. According to Jin10, the Treasury said that all funds contributed to the “Trump Account” will be invested in the State Street SPDR Portfolio S&P 500 ETF (SPYM) when the account starts. The Treasury also selected other low-cost index ETFs for the portfolio’s available options: iShares Core S&P 500 ETF (IVV), Vanguard Total Stock Market ETF (VTI), State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM), and iShares Core S&P Total U.S. Stock Market ETF (ITOT). The department said SPYM will serve as the default investment option for all “Trump Accounts.” It added that it expected to introduce new features in the coming months that would allow parents or guardians to allocate funds among the other investment options. Until that feature is available, all contributions will continue to be invested in the default fund.