State Street's SPYM named default ETF for Trump Accounts

State Street Investment Management announced that its SPDR Portfolio S&P 500 ETF (NYSE Arca: SPYM) has been selected by the U.S. Department of the Treasury as the exclusive default investment for Trump Accounts, a new federally administered child savings program.

The program, established under the Working Families Tax Cut Act, is set to launch on July 4, 2026. It will provide children who are U.S. citizens born between January 1, 2025 and December 31, 2028 with a one-time $1,000 contribution from the U.S. Treasury, invested upon election by an authorized adult when filing federal taxes. For any U.S. child under 18, individuals may contribute up to $5,000 per year to a Trump Account, with all eligible contributions invested in SPYM by default.

SPYM tracks the S&P 500 index and carries an expense ratio of 0.02% per year, which State Street claims is the lowest among the four U.S. ETFs that passively track the S&P 500 without leverage, according to Bloomberg Finance data as of June 26, 2026. The peer group referenced includes SPY, IVV, and VOO.

"These accounts are designed to make investing simple, accessible and enduring, so families can start early and stay invested over time," said Yie-Hsin Hung, Chief Executive Officer at State Street Investment Management.

State Street Corporation (NYSE: STT) also said it was among the first U.S. employers to match the Treasury's $1,000 contribution for eligible children of active employees.

State Street Investment Management reported managing over $5 trillion in assets as of March 31, 2026, including $1.94 trillion in ETF assets under management.

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