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Vanguard Cash Reserves Federal Money Market Fund A...
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Fund Info

CUSIP

922906508

Issuer

Vanguard

Inception Date

Oct 3, 1989

Category

Money Market

Min. Investment

$3,000

Index Tracked

No Index (Active)

Asset Class

Bond

Expense Ratio

VMRXX has an expense ratio of 0.10%, which is considered low.


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart


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S&P 500

Returns By Period

Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) returned 1.41% year-to-date (YTD) and 4.90% over the past 12 months. Over the past 10 years, VMRXX returned 1.86% annually, underperforming the S&P 500 benchmark at 10.84%.


VMRXX

YTD

1.41%

1M

0.35%

6M

2.19%

1Y

4.90%

3Y*

4.45%

5Y*

2.67%

10Y*

1.86%

^GSPC (Benchmark)

YTD

0.52%

1M

6.32%

6M

-1.44%

1Y

12.25%

3Y*

12.45%

5Y*

14.20%

10Y*

10.84%

*Annualized

Monthly Returns

The table below presents the monthly returns of VMRXX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20250.37%0.32%0.36%0.35%0.00%1.41%
20240.46%0.41%0.46%0.43%0.45%0.44%0.45%0.46%0.42%0.41%0.38%0.39%5.27%
20230.37%0.35%0.39%0.40%0.42%0.42%0.44%0.45%0.43%0.45%0.44%0.45%5.13%
20220.00%0.00%0.01%0.01%0.06%0.08%0.14%0.18%0.19%0.25%0.29%0.34%1.56%
20210.00%0.00%0.00%0.00%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.01%0.02%
20200.15%0.13%0.13%0.07%0.05%0.02%0.01%0.01%0.00%0.01%0.00%0.00%0.57%
20190.21%0.20%0.21%0.21%0.21%0.20%0.20%0.20%0.17%0.17%0.15%0.15%2.30%
20180.13%0.12%0.14%0.14%0.17%0.17%0.18%0.19%0.00%0.19%0.19%0.21%1.84%
20170.00%0.00%0.00%0.00%0.00%0.00%0.10%0.10%0.10%0.11%0.10%0.12%0.61%
20160.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20150.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
20140.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Go deeper with the Portfolio Analysis tool — backtest performance, assess risk, compare to benchmarks, and more

Risk-Adjusted Performance

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Vanguard Cash Reserves Federal Money Market Fund Admiral Shares Sharpe ratios as of May 30, 2025 (values are recalculated daily):

  • 1-Year: 3.61
  • 5-Year: 2.67
  • 10-Year: 2.42
  • All Time: 1.34

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Vanguard Cash Reserves Federal Money Market Fund Admiral Shares compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time.


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Go to the full Sharpe Ratio tool to analyze any stock or portfolio. Customize time frames, set your own risk-free rate, and more

Dividends

Dividend History

Vanguard Cash Reserves Federal Money Market Fund Admiral Shares provided a 4.77% dividend yield over the last twelve months, with an annual payout of $0.05 per share. The fund has been increasing its distributions for 3 consecutive years.


0.00%1.00%2.00%3.00%4.00%5.00%$0.00$0.01$0.02$0.03$0.04$0.0520172018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM20242023202220212020201920182017
Dividend$0.05$0.05$0.05$0.02$0.00$0.01$0.02$0.02$0.01

Dividend yield

4.77%5.12%4.99%1.55%0.02%0.57%2.27%1.82%0.61%

Monthly Dividends

The table displays the monthly dividend distributions for Vanguard Cash Reserves Federal Money Market Fund Admiral Shares. The dividends shown in the table have been adjusted to account for any splits that may have occurred.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.00$0.00$0.00$0.01
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.05
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.05
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.02
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2020$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.01
2019$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.02
2018$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.02
2017$0.00$0.00$0.00$0.00$0.00$0.00$0.01

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the Vanguard Cash Reserves Federal Money Market Fund Admiral Shares. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The portfolio has not yet recovered.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

Go to the full Drawdowns tool for more analysis options, including inflation-adjusted drawdowns, and more

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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