Fidelity Government Money Market Fund (SPAXX) vs Schwab Prime Advantage Money Fund (SWVXX)
Side by side on the numbers that decide it. The Money 8020 Score already weighs these — this is the receipts.
Money 8020 pick FI Fidelity Government Money Market Fund (SPAXX) Fidelity Investments 96/100 | CS Schwab Prime Advantage Money Fund (SWVXX) Charles Schwab 85/100 | |
|---|---|---|
| Tier | Essential | Strong |
| 7-day yield | 3.43% | 3.47% |
| Expense ratio | 0.42% | $0 |
| Minimum | $0 | Investor (SWVXX) |
| Protection | SIPC (not FDIC) | SIPC |
| Annual fee | — | — |
| Best for | Investors parking cash inside a brokerage account | Schwab investors who want a strong-yielding cash fund |
| View profile | View profile |
Which should you choose: the Fidelity Government Money Market Fund (SPAXX) or the Schwab Prime Advantage Money Fund (SWVXX)?
The Fidelity Government Money Market Fund (SPAXX) is the stronger pick of the two, with a Money 8020 score of 96/100 versus 85. Choose the Schwab Prime Advantage Money Fund (SWVXX) instead if schwab investors who want a strong-yielding cash fund.
On 7-day yield, the Fidelity Government Money Market Fund (SPAXX) shows 3.43% versus the Schwab Prime Advantage Money Fund (SWVXX)'s 3.47%. On expense ratio, the Fidelity Government Money Market Fund (SPAXX) shows 0.42% versus the Schwab Prime Advantage Money Fund (SWVXX)'s $0. On minimum, the Fidelity Government Money Market Fund (SPAXX) shows $0 versus the Schwab Prime Advantage Money Fund (SWVXX)'s Investor (SWVXX). Both figures are reflected in the Money 8020 score above; confirm current terms with each provider before deciding. This is not financial advice.
Fidelity Government Money Market Fund (SPAXX) vs Schwab Prime Advantage Money Fund (SWVXX): FAQ
Is the Fidelity Government Money Market Fund (SPAXX) or the Schwab Prime Advantage Money Fund (SWVXX) better?
By our scoring, the Fidelity Government Money Market Fund (SPAXX) edges ahead with a Money 8020 score of 96/100 versus 85. The Schwab Prime Advantage Money Fund (SWVXX) can still be the better fit if schwab investors who want a strong-yielding cash fund.
What is the main difference between the Fidelity Government Money Market Fund (SPAXX) and the Schwab Prime Advantage Money Fund (SWVXX)?
On 7-day yield, the Fidelity Government Money Market Fund (SPAXX) offers 3.43% while the Schwab Prime Advantage Money Fund (SWVXX) offers 3.47%. Review the full table above and confirm current terms with each provider. This is not financial advice.