Highest-yielding tax-exempt (municipal) money market funds
Ranked by August 2026 month-end SEC 7-day net yield (≥$100M net assets).
Data: August 2026 month-end SEC filings
All figures are from the August 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.
- The highest 7-day net yield among tax-exempt (municipal) money market funds with at least $100 million in net assets is 2.46%, reported by MOFXX (FEDERATED HERMES MUNICIPAL OBLIGATIONS FUND) as of .
- 69 tax-exempt classes (≥$100M) reported a 7-day yield for August 2026; the median was 2.17%.
- Tax-exempt fund yields are not directly comparable to taxable yields - their income is generally exempt from federal income tax, so the after-tax comparison depends on the investor's bracket.
| # | Ticker | Fund | Category | 7-day yield | Net assets | Min. investment |
|---|---|---|---|---|---|---|
| 1 | MOFXX | FEDERATED HERMES MUNICIPAL OBLIGATIONS FUND | Tax-exempt (national) | 2.46% | $5.5B | $500,000 |
| 2 | TBIXX | FEDERATED HERMES TAX-FREE OBLIGATIONS FUND | Tax-exempt (national) | 2.38% | $5.8B | $500,000 |
| 3 | WFNXX | Allspring National Tax-Free Money Market Fund | Tax-exempt (national) | 2.38% | $2.0B | $10,000,000 |
| 4 | TBVXX | FEDERATED HERMES TAX-FREE OBLIGATIONS FUND | Tax-exempt (national) | 2.38% | $407.2M | $250,000 |
| 5 | JOIXX | JPMorgan Institutional Tax Free Money Market Fund | Tax-exempt (national) | 2.36% | $1.7B | $50,000,000 |
| 6 | MFCXX | FEDERATED HERMES MUNICIPAL OBLIGATIONS FUND | Tax-exempt (national) | 2.36% | $327.3M | $500,000 |
| 7 | FTFXX | FEDERATED HERMES INSTITUTIONAL TAX-FREE CASH TRUST | Tax-exempt (national) | 2.35% | $887.4M | $5,000,000 |
| 8 | CIFXX | Western Asset Select Tax Free Reserves | Tax-exempt (national) | 2.35% | $122.4M | $1,000,000 |
| 9 | VMSXX | Vanguard Municipal Money Market Fund | Tax-exempt (national) | 2.34% | $18.2B | $3,000 |
| 10 | SWOXX | Schwab Municipal Money Fund | Tax-exempt (national) | 2.33% | $14.7B | $1,000,000 |
| 11 | FTXXX | Goldman Sachs Investor Fund - Tax-Exempt Money Market | Tax-exempt (national) | 2.33% | $4.7B | $10,000,000 |
| 12 | JTFXX | JPMorgan Tax Free Money Market Fund | Tax-exempt (national) | 2.32% | $7.8B | $10,000,000 |
| 13 | SCTXX | Schwab AMT Tax-Free Money Fund | Tax-exempt (national) | 2.32% | $3.1B | $1,000,000 |
| 14 | IJMXX | JPMorgan Municipal Money Market Fund | Tax-exempt (national) | 2.32% | $1.8B | $10,000,000 |
| 15 | VYFXX | Vanguard New York Municipal Money Market Fund | Tax-exempt (single state) | 2.31% | $3.6B | $3,000 |
| 16 | JOCXX | JPMorgan Institutional Tax Free Money Market Fund | Tax-exempt (national) | 2.31% | $705.3M | $50,000,000 |
| 17 | FTCXX | Fidelity Investments Money Market Tax-Exempt Portfolio | Tax-exempt (national) | 2.30% | $11.4B | $1,000,000 |
| 18 | FFTXX | FEDERATED HERMES INSTITUTIONAL TAX-FREE CASH TRUST | Tax-exempt (national) | 2.30% | $2.2B | $500,000 |
| 19 | WNTXX | Allspring National Tax-Free Money Market Fund | Tax-exempt (national) | 2.29% | $103.0M | $1,000,000 |
| 20 | NISXX | FEDERATED HERMES NEW YORK MUNICIPAL CASH TRUST | Tax-exempt (single state) | 2.28% | $705.1M | $10,000 |
| 21 | JOFXX | JPMorgan Institutional Tax Free Money Market Fund | Tax-exempt (national) | 2.28% | $324.5M | $10,000,000 |
| 22 | SNYXX | Schwab New York Municipal Money Fund | Tax-exempt (single state) | 2.27% | $2.2B | $1,000,000 |
| 23 | TEWXX | Tax Exempt Portfolio | Tax-exempt (national) | 2.27% | $584.5M | $1,000,000 |
| 24 | VTIXX | JPMorgan Tax Free Money Market Fund | Tax-exempt (national) | 2.27% | $407.7M | $5,000,000 |
| 25 | JMAXX | JPMorgan Municipal Money Market Fund | Tax-exempt (national) | 2.27% | $207.4M | $5,000,000 |
Screen: ticker share classes with at least $100 million in net assets and a reported 7-day net yield on the August 2026 month-end filings (588 of 870 ticker classes). Tiny classes are excluded because they report outlier yields; the full CSV has every class. Rankings are arithmetic on SEC filings - not recommendations.
FAQ
What is the highest-yielding tax exempt money market fund?
As of the August 2026 month-end SEC Form N-MFP filings, the highest 7-day net yield among tax-exempt (municipal) money market funds with at least $100 million in net assets is 2.46%, reported by MOFXX (FEDERATED HERMES MUNICIPAL OBLIGATIONS FUND).