PANews reported on July 2, citing Jinshi, that the U.S. Treasury Department today announced the investment product portfolio for the “Trump Account,” including an initial default investment plan to be launched at go-live, and four additional low-cost index fund options that can be selected by relevant parties in the coming months. When the account launches, all funds contributed to the “Trump Account” will be invested in the State Street SPDR Portfolio S&P 500 ETF (SPYM). In addition, the Treasury Department has selected the following other low-cost index ETFs for the “Trump Account” portfolio: 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 Treasury Department said SPYM will serve as the default investment option for all “Trump Accounts.” In the coming months, the Treasury Department expects to launch a new feature allowing parents or guardians to allocate funds among other investment options. Until that feature goes live, all contributions will continue to be invested in the default fund.
