Fidelity Money Market Funds Resource Center

Money market insights and resources

Fidelity is one of the largest and most trusted money market mutual fund providers in the industry. Our money market funds invest in high-quality money market securities and seek to provide stability, liquidity, and competitive returns for our customers.

Safety and liquidity have always been, and will continue to be, Fidelity's top priority objectives in managing money market funds. As one of the largest and most trusted money market providers in the industry, we are proud to manage more than $1T1 in money market assets for millions of our customers. We continue to invest in high-quality money market securities and seek to provide safety, liquidity, and competitive returns for our customers.
Kevin Gaffney, Chief Investment Officer, Money Markets

Money Market Funds

Size and Scale

One of the most trusted names in money markets

LARGEST MANAGER OF MONEY MARKET FUNDS

1,185.5 641.9 510.2 489.1 476.4 393.8 392.8 253.8 251.0 232.8 0 200 400 600 800 1,000 1,200 Assets ($B) Fidelity JP Morgan BlackRock Vanguard Schwab Goldman Sachs Federated Dreyfus Morgan Stanley SSgA

Source: iMoneyNet and Fidelity Investments as of 6/30/23. Assets exclude central funds.

FIDELITY'S MARKET SHARE ~21%

0 200 600 400 800 1,000 1,200 Assets ($B) Market share (%) 2000 2002 2004 2006 2001 2003 2005 2007 2080 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 25.0 22.5 20.0 17.5 12.5 10.0 7.5 5.0 2.5 0.0 15.0 Market share Assets

Source: iMoneyNet and Fidelity Investments as of 6/30/23. Assets exclude central funds.

Types of Money Market Funds at Fidelity

Fund Type Net Asset Value (NAV) Mandatory Liquidity Fee^ Discretionary Liquidity Fee^
U.S. Treasury Stable No No
Government* Stable No No
Retail Municipal** Stable No Yes
Retail Prime^** Stable No Yes
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  • 1 Source: Fidelity Investments, as of 12/31/23.
  • * 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. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund's sponsor, is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress.
  • The fund will not impose a fee upon the sale of your shares.
  • ** 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. The fund may impose a fee upon the sale of your shares. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Fidelity Investments and its affiliates, the fund's sponsor, is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress.
  • ^ On July 12, 2023, the SEC adopted amendments to Rule 2a-7 ("ew rules") to be implemented over 2023 and 2024. Under the new rules, only institutional prime and institutional tax-exempt money market funds are subject to the mandatory liquidity fee framework. Discretionary liquidity fees apply for all prime and tax-exempt money market funds, and do not apply to U.S. Treasury or government money market funds unless they opt in (after advance notice to shareholders). The compliance date for the mandatory liquidity fee framework is October 2, 2024, and for the discretionary liquidity fee framework is April 2, 2024.
 
 

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