Best Money Market Funds
A money market fund is a mutual fund that holds short-term, high-quality debt and pays a 7-day yield that tracks short-term rates. Unlike a bank money market account, it is a security — not FDIC-insured — so it is best for idle cash inside a brokerage. We rank by the verified 7-day yield and the minimum to invest.
The best money market funds in 2026 is the Fidelity Government Money Market Fund (SPAXX), which tops our ranking with a Money 8020 score of 96/100. We track 6 money market funds, 6 with rates checked against the provider and a regulator. All 6 are ranked and compared below.
Which money market fund pays the best 7-day yield for parking idle brokerage cash?
Top 3 in this category.
Fidelity Government Money Market Fund (SPAXX)
A 3.43% 7-day yield government money market fund, per the issuer.
Vanguard Cash Reserves Federal Money Market Fund (VMRXX)
A 3.60% 7-day yield government money market fund, per the issuer.
Vanguard Federal Money Market Fund (VMFXX)
A 3.56% 7-day SEC yield with a rock-bottom 0.11% expense ratio — Vanguard's default cash fund.
All 6, ranked.
Compare the numbers.
Click a column header to sort.
| Product | Rating | Annual fee | Score | Tier | |
|---|---|---|---|---|---|
| Fidelity Government Money Market Fund (SPAXX) Fidelity Investments | 4.7 | — | 96 | Essential | View |
| Vanguard Cash Reserves Federal Money Market Fund (VMRXX) The Vanguard Group | 4.7 | — | 96 | Essential | View |
| Vanguard Federal Money Market Fund (VMFXX) Vanguard | 4.7 | — | 96 | Essential | View |
| Vanguard Treasury Money Market Fund (VUSXX) The Vanguard Group | 4.6 | — | 94 | Essential | View |
| Fidelity Money Market Fund (SPRXX) Fidelity Investments | 4.5 | — | 85 | Strong | View |
| Schwab Prime Advantage Money Fund (SWVXX) Charles Schwab | 4.5 | — | 85 | Strong | View |
How to choose the best money market funds
To choose a brokerage, confirm $0 commissions on the assets you trade, check the account minimum, the range of investments, and the quality of research and trading tools.
- Commissions on stocks, ETFs, options, and other assets
- Account minimum to open
- Range of available investments
- Research, tools, and mobile app quality
- SIPC protection
Frequently asked questions about money market funds
Is a money market fund FDIC insured?
No. A money market fund is a mutual fund (a security), not a bank deposit, so it is not FDIC-insured — it carries SIPC protection at the brokerage instead. Most aim to hold a stable $1 share price, but that is a goal, not a guarantee.
How is a money market fund different from a money market account?
A money market account is an FDIC-insured bank deposit. A money market fund is a brokerage investment that pays a 7-day yield tracking short-term rates. Funds often yield more than bank accounts, but they trade insurance for the chance of slightly higher (and variable) returns.