ETF Evaluator:
ProShares GENIUS Money Market ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Money Market-Taxable Over the Last Year
| 3.8% | Simplify Government Money Market ETF (SBIL) |
| 3.7% | Texas Capital Government Mny Mkt ETF (MMKT) |
| 3.7% | Money Market-Taxable () |
| 3.7% | iShares Government Money Market ETF (GMMF) |
| 3.7% | Schwab Government Money Market ETF (SGVT) |
Risk
Index
Risk
Index
ETF Details
ProShares GENIUS Money Market ETF Overview
ProShares GENIUS Money Market ETF (IQMM) is an actively managed Money Market Money Market-Taxable exchange-traded fund (ETF). ProShares launched the ETF in 2026.
The investment seeks current income consistent with liquidity and preservation of capital.
The fund intends to operate as a “government money market fund” pursuant to Rule 2a-7 under the Investment Company Act of 1940, as amended, and as a permissible reserve investment for payment stablecoin issuers under the Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025. The fund will invest principally in the securities listed in U.S. Treasuries Bills, Notes or Bonds.
About ProShares GENIUS Money Market ETF (IQMM)
There are 3 members of the management team with an average tenure of 0.45 years: Erik Benke (2026), Alexander Ilyasov (2026) and James Linneman (2026). Management tenure is more important for actively managed ETFs than passive index ETFs.
ProShares GENIUS Money Market ETF has 13 securities in its portfolio. The top 10 holdings constitute 92.7% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
ProShares GENIUS Money Market ETF is part of the Capital Preservation global asset class and is within the Money Market ETF group. ProShares GENIUS Money Market ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). ProShares GENIUS Money Market ETF has 100.0% of the portfolio in cash.
Assets Under Management
The fund has $17 billion in total assets, which is above the $3 billion average for the Money Market-Taxable category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IQMM Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The ProShares GENIUS Money Market ETF expense ratio is low compared to funds in the Money Market-Taxable category. ProShares GENIUS Money Market ETF has an expense ratio of 0.15%, which is 27% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. ProShares GENIUS Money Market ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 13% for the Money Market-Taxable category.
Recently, in the month of July 2026, ProShares GENIUS Money Market ETF returned 0.3%, which earned it a grade of A, as the Money Market-Taxable category had an average return of 0.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
ProShares GENIUS Money Market ETF has a trailing yield of 0.00%, which is below the 3.66% category average.
The fund normally distributes its income weekly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
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IQMM Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IQMM Return (NAV) | 0.3% | 0.9% | na | na | na | na |
| IQMM Return (Price) | 0.3% | 0.9% | na | na | na | na |
| NAV +/- Price Return | 0.007% | 0.012% | na | na | na | na |
| Money Market-Taxable Avg | 0.3% | 0.9% | 3.7% | na | na | na |
| IQMM Grade (NAV) | A | A | na | na | na | na |
| +/- Category (NAV) | 0.0% | 0.0% | na | na | na | na |
| IQMM Tax-Cost Ratio | na | na | na | na | na | na |
IQMM Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IQMM Return (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| IQMM Return (Price) | na | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | na | na | na | na | na | na | na | na | na | na | na |
| Money Market-Taxable Avg | 2.0% | 4.1% | na | na | na | na | na | na | na | na | na |
| IQMM Grade (NAV) | na | na | na | na | na | na | na | na | na | na | na |
| +/- Category | na | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | -- |
| Total Assets: | $ 17,392 Mil |
| Share Class Assets: | $ 17,392 Mil |
| Turnover: | na |
| Expense Ratio: | 0.15% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Weekly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 0.5 years | |||
| Average Tenure: 0.5 years | |||
| Managers (Year): Benke Erik (2026), Ilyasov Alexander (2026), Linneman James (2026) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 13 |
| % in Top 10 Holdings: | 92.7% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 100.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | ProShares |
| Phone Number: | 888-776-3637 |
| Website: | www.proshares.com |
| Inception Date: | February 17, 2026 |
Expenses and Fees
| Expense Ratio (%): | 0.15% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.21% |
