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Money & Growth

How Is a Trump Account Invested?

At launch, Trump Accounts default to SPYM (S&P 500). Treasury later adds IVV, VTI, SPTM, and ITOT. Index funds only; expense ratios capped at 0.1%.

TrumpAccounts.guide Editorial Team 6 min read
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Key Takeaways

  • Funds must track the S&P 500 or a broad U.S. equity index.
  • At launch, money goes into SPYM by default.
  • Later options: IVV, VTI, SPTM, ITOT.
  • Expense ratios are capped at 0.1%.
  • No individual stocks, bonds, crypto, or real estate — index funds only.

At launch, all Trump Account contributions are invested in SPYM (State Street SPDR Portfolio S&P 500 ETF). Treasury will later allow parents to allocate among IVV, VTI, SPTM, ITOT. Until then, you do not need to pick a fund to open the account.

Full official lineup details: Trump Account investment lineup (source: Treasury sb0551).

The investment requirement

Under IRC Section 530A, Trump Account funds must be invested in mutual funds or ETFs that track:

  • The S&P 500 Index — the 500 largest U.S. publicly traded companies
  • A broad U.S. equity index — such as the total U.S. stock market

📜 IRS Notice 2025-68 on eligible investments

"Amounts in a Trump Account must be invested in one or more funds (whether mutual funds or exchange-traded funds) that are designed to track the performance of the Standard & Poor's 500 Index or a broad-based domestic equity index."

Official Treasury lineup

Fund Ticker Approx. fee Status
State Street SPDR Portfolio S&P 500 ETF SPYM 0.02% Default at launch
iShares Core S&P 500 ETF IVV 0.03% Additional (later)
Vanguard Total Stock Market ETF VTI 0.03% Additional (later)
State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF SPTM 0.03% Additional (later)
iShares Core S&P Total U.S. Stock Market ETF ITOT 0.03% Additional (later)

⚠️ You cannot pick funds yet

Until Treasury enables investment election functionality, all contributions remain invested in the default fund (SPYM).

What is NOT allowed

  • Individual stocks
  • Bonds or bond funds
  • Cryptocurrency
  • Real estate / REITs
  • International-only funds
  • Sector funds

The expense ratio cap: 0.1%

For every $10,000 invested, you pay no more than $10 per year in fund fees under the statutory cap. Official lineup funds sit well below that limit. See fees explained.

Why index funds for long-term growth

The S&P 500 has delivered roughly 10% average annual returns before inflation over long periods. Index funds keep costs low and diversify across hundreds of companies — a good match for an 18-year horizon.

Run numbers with the Trump Account calculator. For crashes, see What Happens in a Market Crash?

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Frequently Asked Questions

Can I invest a Trump Account in individual stocks?
No. Trump Accounts must be invested in mutual funds or ETFs that track the S&P 500 or a broad U.S. equity index. Individual stocks, bonds, crypto, and real estate are not allowed.
What fund is used at launch?
Treasury selected SPYM (State Street SPDR Portfolio S&P 500 ETF) as the default. At launch, all contributions are invested in SPYM.
What is the expense ratio cap for Trump Account funds?
Expense ratios are capped at 0.1% (10 basis points). The official lineup funds are well below this cap.
Can I switch between eligible funds?
Until Treasury enables investment election functionality, all contributions remain invested in the default fund (SPYM).
Can I invest in an international stock fund?
No. The law requires investments in funds that track the S&P 500 or a broad U.S. equity index. International-only funds, bond funds, and sector-specific funds are not eligible.

Related Articles

Trump Account Investment Options: SPYM Default + 4 ETFs

Trump Account investment options in 2026: SPYM is the launch default. IVV, VTI, SPTM, and ITOT come later. You do not need to pick a fund to open.

Trump Account Index Fund Requirements

Funds must track the S&P 500 or a broad U.S. equity index. Expense ratios capped at 0.1%. Official Treasury lineup: SPYM, IVV, VTI, SPTM, ITOT.

Trump Account Fees & Expense Ratios

Expense ratios capped at 0.1%. Official lineup fees for SPYM, IVV, VTI, SPTM, and ITOT — and why low costs matter over 18 years.

Best S&P 500 ETFs for Trump Accounts

Compare Treasury’s official lineup: SPYM (default), IVV, VTI, SPTM, and ITOT. Expense ratios, indexes, and what parents can choose when.

Can Parents Change Trump Account Funds?

Not yet at launch — money stays in SPYM until Treasury opens investment elections. Later you may choose among IVV, VTI, SPTM, and ITOT.

Disclaimer: This is educational content, not tax or financial advice. Consult a qualified tax professional or financial advisor before making investment decisions.

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