Fidelity Government Money Market Fund (SPAXX) vs Vanguard Cash Reserves Federal Money Market Fund (VMRXX)
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 | TV Vanguard Cash Reserves Federal Money Market Fund (VMRXX) The Vanguard Group 96/100 | |
|---|---|---|
| Tier | Essential | Essential |
| 7-day yield | 3.43% | 3.60% |
| Expense ratio | 0.42% | 0.10% |
| Minimum | $0 | $3,000 |
| Protection | SIPC (not FDIC) | SIPC (not FDIC) |
| Annual fee | — | — |
| Best for | Investors parking cash inside a brokerage account | Investors parking cash inside a brokerage account |
| View profile | View profile |
Which should you choose: the Fidelity Government Money Market Fund (SPAXX) or the Vanguard Cash Reserves Federal Money Market Fund (VMRXX)?
The Fidelity Government Money Market Fund (SPAXX) and the Vanguard Cash Reserves Federal Money Market Fund (VMRXX) score evenly at 96/100 in our ranking, so the better choice comes down to fit. Lean to the Vanguard Cash Reserves Federal Money Market Fund (VMRXX) if investors parking cash inside a brokerage account; otherwise the Fidelity Government Money Market Fund (SPAXX) is the safer default.
On 7-day yield, the Fidelity Government Money Market Fund (SPAXX) shows 3.43% versus the Vanguard Cash Reserves Federal Money Market Fund (VMRXX)'s 3.60%. On expense ratio, the Fidelity Government Money Market Fund (SPAXX) shows 0.42% versus the Vanguard Cash Reserves Federal Money Market Fund (VMRXX)'s 0.10%. On minimum, the Fidelity Government Money Market Fund (SPAXX) shows $0 versus the Vanguard Cash Reserves Federal Money Market Fund (VMRXX)'s $3,000. 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 Vanguard Cash Reserves Federal Money Market Fund (VMRXX): FAQ
Is the Fidelity Government Money Market Fund (SPAXX) or the Vanguard Cash Reserves Federal Money Market Fund (VMRXX) better?
The two score evenly at 96/100 in our ranking, so the right pick depends on your situation — the Vanguard Cash Reserves Federal Money Market Fund (VMRXX) fits if investors parking cash inside a brokerage account, otherwise the Fidelity Government Money Market Fund (SPAXX) is a safe default.
What is the main difference between the Fidelity Government Money Market Fund (SPAXX) and the Vanguard Cash Reserves Federal Money Market Fund (VMRXX)?
On 7-day yield, the Fidelity Government Money Market Fund (SPAXX) offers 3.43% while the Vanguard Cash Reserves Federal Money Market Fund (VMRXX) offers 3.60%. Review the full table above and confirm current terms with each provider. This is not financial advice.