Learn about Fidelity’s government money market fund SPAXX, which typically invested 100% or more in cash or cash equivalents in the form of short-term US government securities or repurchase agreements that are fully-collateralized by cash or securities.
Holding cash on the sidelines in a Fidelity SPAXX money market account? You may be wondering how fed funds rate cuts impact your savings rate. Fidelity’s SPAXX government money market fund is your Fidelity.com account’s cash sweep account, where your money is held before it’s deployed into buying stocks. Thru Fidelity’s bank partner UMB Bank … Read more
SPAXX is Fidelity’s government money market fund that’s not invested or settled. After depositing money into your account on Fidelity.com, it’s automatically placed into SPAXX as cash earning interest. From this “core position”, cash stays in SPAXX in your Fidelity money market account, earning interest (similar to an FDIC savings account) until it’s invested on … Read more
Fidelity money market funds like SPAXX, SPRXX, and FDLXX, are offering yields north of 4.9%. Unsurprisingly, investors are leaving their money inside their core position rather than investing it elsewhere. Some investors on Reddit are wondering what would happen to these Fidelity money market funds in the event of a government shutdown. Specifically, how long … Read more
Someone asks:
Which one is best under the Roth IRA with Fidelity. SPAXX (Fidelity Government Money Market Fund) or FDIC (Insured Deposit Sweep Program)?
What’s the Difference Between SPAXX and FDIC?
SPAXX and FDIC are money market funds…