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Fund Evaluator
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Seeking a low-risk, liquid investment with competitive yields? Consider moving your cash to a Fidelity money market fund.
Fidelity money market funds invest only in high-quality instruments and are designed and managed for principal protection.
Options for Investing Cash
Explore some options for investing your cash in Fidelity money market funds.
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For your retirement accounts:
Taxable Money Market Fund
- Fidelity Cash Reserves (FDRXX)
For your non-retirement accounts:
National Municipal Money Market Funds
- Fidelity Municipal Money Market (FTEXX)
- Fidelity Tax-Free Money Market (FMOXX)
State Municipal Money Market Funds
- Arizona (FSAXX)
- California (FCFXX)
- Massachusetts (FDMXX)
- Ohio (FOMXX)
- Pennsylvania (FPTXX)
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Learn more about holding taxable funds in tax-advantaged retirement accounts.
Taxable money market funds' minimum initial investment in certain retirement accounts:
Minimum $2,500 Initial Investment*
- Fidelity Cash Reserves (FDRXX)
- Fidelity U. S. Government Reserves (FGRXX)
- Fidelity Select Money Market Portfolio (FSLXX)
Minimum $10,000 – $25,000 Initial Investment
- Fidelity Government Money Market Fund (SPAXX)
- Fidelity Money Market Fund (SPRXX)
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Learn more about the Alternative Minimum Tax (AMT).
For investors not subject to the federal AMT — core-eligible funds with minimum initial investment $5,000
- Funds shielded from state and federal income taxes for residents of Arizona (FSAXX), California (FCFXX), Massachusetts (FDMXX), Michigan (FMIXX), New York (FNYXX), Ohio (FOMXX), Pennsylvania (FPTXX)
- For residents of other states, fund shielded from federal income tax: Fidelity Municipal Money Market Fund (FTEXX)
AMT-free money market funds
- Money market funds with interest income exempt from state and federal income taxes and the federal AMT:
- Minimum Initial Investment $25,000 - California (FSPXX), Massachusetts (FMSXX), New Jersey (FSJXX), New York (FSNXX)
- Minimum Initial Investment $1,000,000 - California(FSBXX), Massachusetts (FMAXX), New Jersey (FSKXX), New York (FNKXX)
- For residents of other states, funds shielded from federal income taxes and the federal AMT: Fidelity Tax-Free Money Market Fund (FMOXX — core-eligible, minimum initial investment $5,000), Fidelity AMT Tax-Free Money Fund (FIMXX — $25,000 minimum initial investment), FIMM: Tax-Exempt (FTCXX - $1,000,000 minimum initial investment)
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Fidelity Institutional Money Market funds with $1 million minimum initial investment:
State AMT-Free Municipal Funds
- California AMT Tax-Free (FSBXX)
- Massachusetts AMT Tax-Free (FMAXX)
- New Jersey AMT Tax-Free (FSKXX)
- New York AMT Tax-Free (FNKXX)
National AMT-Free Municipal Fund
- Tax-Exempt (FTCXX)
Taxable Funds
- Government Portfolio (FIGXX)
- Money Market Portfolio (FMPXX)
- Prime Money Market Portfolio (FIDXX)
Important Information
An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
Money market investors should be aware of two primary forms of risk:
- Income risk — Money market yields can fall sharply in a relatively short period of time.
- Inflation risk — Returns may not keep up with inflation, leading to purchasing power erosion for the investor.
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Find an- Municipal bond funds normally seek to earn income and pay dividends that are expected to be exempt from federal income tax. If a fund investor is resident in the state of issuance of the bonds held by the fund, interest dividends may also be exempt from state and local income taxes. Such interest dividends may be subject to federal and/or state alternative minimum taxes. Certain funds may normally seek to invest only in municipal securities generating income exempt from both federal income taxes and the federal alternative minimum tax, however, outcomes cannot be guaranteed, and the funds may sometimes generate income subject to these taxes. Investing in municipal bond funds for the purpose of generating tax-exempt income may not be appropriate for investors in all tax brackets. Interest dividends paid by Treasury bond funds are generally exempt from state income tax but are generally subject to federal income and alternative minimum taxes and may be subject to state alternative minimum taxes. Fund shareholders may also receive taxable distributions attributable to a fund's sale of municipal bonds. Fund redemptions, including exchanges, may result in a capital gain or loss for federal and/or state income tax purposes.
*You will need to call a Fidelity representative at 1-800-FIDELITY to change the fund for your core account.
Before investing, consider the funds' investment objectives, risks, charges and expenses. Contact Fidelity for a prospectus containing this information. Read it carefully.
