The top money market mutual fund list compiled by the New York Times shows Fidelity Cash Reserves is paying 65% more than Vanguard's Prime Money Market fund.
Money Market Mutual Fund Rates
as of 07/31/2009
| Largest | 7-day avg.
% yld. | Type |
|
R = Regular T = Tax Exempt
Based on data compiled monthly by Morningstar
|
| Fidelity Cash Reserves | 0.38 | R |
| Vanguard Prime MMkt | 0.23 | R |
| JPMorgan Prime MM Cap | 0.32 | R |
| JPMorgan U.S. Gov MM Cap | 0.22 | R |
| FIMM Gov I | 0.20 | R |
| GSachs FS Gov FST | 0.16 | R |
| Govt Obl Instl | 0.16 | R |
| JPMorgan Pr MMkt Inst | 0.28 | R |
|
|
|
Highest 7-day
yields | 7-day avg.
% yld. | Type |
| Hartford Mny Mkt HLS IA | 2.34 | R |
| Hartford Money Mkt HLS IB | 2.34 | R |
| Hart Mny Mkt R3 | 1.39 | R |
| Hart Mny Mkt R4 | 1.39 | R |
| Hart Mny Mkt R5 | 1.39 | R |
| Hartford Money Market C | 1.39 | R |
| Hartford Money Market B | 1.39 | R |
| Hartford MMkt A | 1.39 | R |
Of course these rates are tiny compared to the 1.60% APY available at
Star One Credit Union.With rates so low, banks will try to sell you their annuity products. Make sure you read our article: Beware of Annuities
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