Money market ETF (Geldmarkt-ETF)
An ETF that tracks short-term euro interest rates and therefore barely fluctuates, an alternative to a savings account.
In short
As of 8 October 2026A money market ETF tracks short-term euro interest rates such as €STR. Its price rises almost steadily and its return follows the ECB's key rate minus costs. It is not a bank deposit and is not covered by deposit insurance, but as segregated fund assets it is protected if the fund company fails. There is no partial tax exemption.
A money market ETF tracks short-term interest rates, such as the euro overnight rate €STR. Its price rises almost steadily, and its return follows the ECB's key interest rate, minus running costs. Fluctuations are very small, but not zero.
Unlike instant-access savings it is not a bank deposit. It is not covered by deposit insurance, but as segregated fund assets it is protected against the fund company going bust, with no upper limit. For tax there is no partial exemption, so gains are fully taxable.
Example: you park 10,000 euros in a money market ETF. If money market rates stay around 2.5 % for a year and the TER is 0.10 %, the amount grows to about 10,240 euros before tax. The comparison with a savings account is the subject of the topic Tagesgeld or ETF.
Related terms
Sources
As of 8 October 2026 · Educational content, not investment or tax advice.