Money market fund yield trends
Median 7-day net yields by category, every month-end since April 2016.
Data: October 2026 month-end SEC filings
All figures are from the October 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 median US government money-market fund 7-day net yield was 3.70% at October 2026 month-end, across every government fund class filing Form N-MFP.
- Twelve months earlier the median was 3.81% - median government-fund yields have moved down 0.11 points over the year.
- Since April 2016 the median government-fund 7-day yield has ranged from 0.01% (April 2016, zero-rate era) to 5.09% (November 2023, cycle peak).
- The effective federal funds rate was 3.88% on ; the Fed's target range is 3.75–4.00% (FRED).
- Retail money-market funds held $3,037 billion in the week of (Federal Reserve H.6, via FRED).
Against the Fed and T-bills
What this shows
Each line is the median SEC 7-day net yield across every share class in that category filing Form N-MFP for the month - 1,082 classes in October 2026. Medians, not asset-weighted averages, so a few giant funds don't dominate. The underlying per-fund monthly history is a free download: money-market-fund-yield-history.csv.
FAQ
Are money market fund yields going up or down?
Median US government money-market fund 7-day yields moved down 0.11 percentage points over the twelve months to October 2026 month-end: 3.70% vs 3.81% a year earlier. This site reports filed month-end figures only and makes no forecasts.
What was the highest money market fund yield era in the data?
In the SEC's structured N-MFP data back to April 2016, median US government money-market fund 7-day yields peaked at 5.09% in November 2023 and bottomed at 0.01% in April 2016 during the zero-rate era.