FMOXX - Fidelity ® Tax-Exempt Money Market Fund (2024)

FAQs

Does Fidelity have a tax-exempt money market fund? ›

FMOXX - Fidelity ® Tax-Exempt Money Market Fund | Fidelity Investments.

The investment seeks to provide as high a level of current income, exempt from federal income taxes, as is consistent with liquidity and stability of principal. The fund normally invests at least 80% of assets in municipal securities whose interest is exempt from federal income tax.

Stability & safety

While not insured by the FDIC, the funds are required by federal regulations to invest in short-maturity, low-risk investments, making them less prone to market fluctuations than many other types of investments.

At Fidelity, any uninvested cash deposited in a Fidelity brokerage account is automatically put in a money market fund now earning 4.95%—just one more way we're providing industry-leading value for our customers.

Fidelity Government Money Market Fund (SPAXX), a taxable money market mutual fund investing in U.S. Government Agency and Treasury debt, and related repurchase agreements. Intended for investors seeking as high a level of current income as is consistent with the preservation of capital and liquidity.

Distributions you receive from the fund are subject to federal income tax and generally will be taxed as ordinary income or capital gains, and may also be subject to state or local taxes, unless you are investing through a tax-advantaged retirement account (in which case you may be taxed later, upon withdrawal of your ...

You may encounter FZFXX as an option in your taxable account. It's basically the same as SPAXX and FDRXX except it does not have the 10% or so in agency securities. This one is entirely U.S. Treasury securities.

What is the safest money market fund? ›

Vanguard Treasury Money Market Fund

This fund only invests in US Treasuries and repurchase agreements insured by the federal government, making it among the safest in a category of relatively safe investments. The weighted average maturity of the fund's holdings is 43 days.

Alternatives to money market funds, money market accounts, and savings accounts include: Certificates of deposit: CDs are term-based savings accounts that lock up your funds for a set time period in exchange for higher interest rates.

Money Market Funds

Ultra-conservative investors and unsophisticated investors often stash their cash in money market funds. While these funds provide a high degree of safety, they should only be used for short-term investment. There's no need to avoid equity funds when the economy is slowing.

Does Fidelity Have a High-Yield Savings Account? Fidelity doesn't offer its customers traditional deposit accounts like savings accounts—high-yield or otherwise.

Banks use money from MMAs to invest in stable, short-term securities with minimal risk that are liquid. Money market funds, on the other hand, invest in relatively safe vehicles that mature in a short period of time, usually within a year. Federal Deposit Insurance Corp. "Your Insured Deposits."

Since 1971, Fidelity has managed money market funds with the same objective - to help provide safety, liquidity, and competitive returns for our customers' cash investments.

Seeks to provide income exempt from state and federal taxes by focusing on higher quality investments that primarily provide funding for public services and projects in the state of California. It has the flexibility to invest in higher income securities across the ratings spectrum.

Fidelity's program for uninvested cash is also simple and competitive, offering 4.99% on uninvested cash through a sweep into money market funds. 12 Fidelity's cash management program operates more like a bank account, offering bill pay, an ATM card, and mobile check deposit.

We offer both taxable government and municipal (tax-exempt) money market funds. Vanguard's money market funds are offered with a stable $1 NAV (net asset value).