Are you looking to invest your money but don’t know where to start? Money market funds could be a great option for you. They offer stability and liquidity, and they can be a good place to park your money while you figure out the best long-term investment strategy for you. Here are five of the best money market funds to invest in right now.
1. Fidelity Investments Money Market Fund (FMDXX)
The current yield on the Fidelity Investments Money Market fund is 1.51%, and its expense ratio is 0.35%. This fund requires a $2,500 minimum investment, and it is available to both retail and institutional investors. The fund invests in short-term debt issued by the U.S government, as well as other agencies and corporations.
2. Vanguard Federal Money Market Fund (VMFXX)
The Vanguard Federal Money Market Fund has a yield of 1.46%, and its expense ratio is 0.20%. This fund requires a $3,000 minimum investment, and it is available to both retail and institutional investors. The fund invests in short-term debt issued by the U.S government, as well as other agencies and corporations.
3. Schwab Government Money Market Fund (SWGXX)
The Schwab Government Money Market Fund has a yield of 1.41%, and its expense ratio is 0.35%. This fund requires a $1,000 minimum investment, and it is available only to Schwab clients. The fund invests in short-term debt issued by the U.S government, as well as other agencies and corporations.
4. Fidelity Government Cash Reserves (FGOVX)
The Fidelity Government Cash Reserves fund has a yield of 1.40%, and its expense ratio is 0.14%. This fund requires a $2,500 minimum investment, and it is available to both retail and institutional investors. The fund invests in short-term debt issued by the U.S government
5. Goldman Sachs Financial Square Treasury Obligations Fund (FSTDXX)
The Goldman Sachs Financial Square Treasury Obligations Fund has a yield of 1.39%, and its expense ratio is 0.20%. This fund requires a $5,000 minimum investment, and it is available to both retail and institutional investors. The fund invests in short-term debt issued by the U.S government.
When choosing a money market fund, you should consider the fund’s yield, expense ratio, and minimum investment requirements. You should also make sure that the fund is available through your brokerage account.
