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FAQs
What is SPAXX Fidelity Government Money Market Fund? ›
The Fund seeks as high a level of current income as is consistent with preservation of capital and liquidity. Invests in US government securities and repurchase agreements for same and enters into reverse repurchase agreements.
Is SPAXX a good place to keep money? ›You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so.
Does Fidelity automatically put your money in SPAXX? ›SPAXX is Fidelity Investment's prime money market fund. If you have a Fidelity brokerage account, your idle cash is automatically invested in SPAXX to earn its dividend. SPAXX is the FDIC-Insured Deposit Sweep program.
Does SPAXX pay monthly? ›Quick Answer: SPAXX pays interest monthly. While the interest accrues daily, investors receive the accumulated interest on the last business day of each month. This frequent payout makes SPAXX attractive for investors seeking regular income and easy access to their money.
Do you pay taxes on Fidelity SPAXX? ›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.
Does SPAXX have fees? ›Prospectus Net Expense Ratio is 0.42% as of 6/29/2023 and may not include certain voluntary reimbursem*nts and waivers that reduce the actual expenses of the fund. The voluntary reimbursem*nts and waivers can be discontinued at any time.
What does SPAXX 7-day yield mean? ›The Fidelity Government Money Market Fund (SPAXX) is a money market fund that pays accrued interest on the last business day of each month. This is referenced as the "7-day yield," defined as the average income return over the previous seven days, assuming the rate stays the same for one year.
Is SPAXX FDIC insured? ›SPAXX and all the money market funds on this list are insured by the SIPC, which stands for Securities Investor Protection Corporation, up to $500,000 in the event of financial troubles with the brokerage firm. You've probably heard of FDIC insurance for savings accounts.
Where to put cash in Fidelity? ›Investors have a variety of places to hold cash, including savings accounts, money market funds, certificates of deposit (CDs), and short-term bonds.
Is it safe to keep money in SPAXX? ›Hypersafe as SPAXX holdings are, they are not entirely risk free. SPAXX literature points out that certain issuers of U.S. Government securities are sponsored or chartered by Congress but their securities are neither issued nor guaranteed by the U.S. Treasury.
How safe is Fidelity government money market? ›
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.
Fidelity Government Money Market Fund (SPAXX) Latest Prices, Charts & News | Nasdaq.
Is Fidelity Government Money Market Fund safe? ›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.
Government and Treasury Money Market Funds primarily invest in short-term U.S. government debt securities. Treasury money market funds typically limit their holdings to only U.S. Treasury obligations or repurchase agreements collateralized by U.S. Treasury securities.