SPAXX vs VMRXX
Side-by-side 7-day yields from the September 2026 month-end N-MFP filings.
Data: September 2026 month-end SEC filings
All figures are from the September 2026 month-end Form N-MFP filings (report date ) - money-market funds must file within five business days of month-end. Regulatory data, not live quotes.
- As of the September 2026 month-end filings, VMRXX's 7-day yield of 3.80% is 0.32 points above SPAXX's 3.48%.
| SPAXX | VMRXX | |
|---|---|---|
| Fund | Fidelity Government Money Market Fund | Vanguard Cash Reserves Federal Money Market Fund |
| Category | Government | Government |
| 7-day net yield | 3.48% | 3.80% |
| Yield as of | ||
| Net assets (class) | $433.8B | $116.1B |
| Series gross 7-day yield | 3.90% | 3.90% |
| Implied expense gap (gross − net) | 0.42% | 0.10% |
| WAM / WAL (days) | 38 / 111 | 22 / 50 |
| Daily / weekly liquid assets | 58.0% / 74.0% | 55.5% / 67.8% |
| Minimum initial investment | None | $3,000 |
| 2025 USGO income (state tax) | 50.90% | 69.58% |
| Manager | Fidelity Hereford Street Trust | Vanguard Money Market Reserves |
Five-year yield history
FAQ
Which has a higher 7-day yield, SPAXX or VMRXX?
VMRXX - as of the September 2026 month-end SEC Form N-MFP filings, VMRXX's 7-day net yield of 3.80% is 0.32 percentage points above SPAXX's 3.48%.
Numbers only - this site makes no recommendation between funds. Both rows come from each fund's own September 2026 month-end Form N-MFP filing; yields move daily, so check each fund company for live figures (links on the SPAXX and VMRXX pages).