FDRXX vs. SPAXX
Compare and contrast key facts about Fidelity Government Cash Reserves (FDRXX) and Fidelity Government Money Market Fund (SPAXX).
FDRXX is managed by Fidelity. It was launched on Dec 15, 1999. SPAXX is managed by Fidelity. It was launched on Feb 5, 1990.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FDRXX or SPAXX.
Correlation
The correlation between FDRXX and SPAXX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FDRXX vs. SPAXX - Performance Comparison
Key characteristics
FDRXX:
3.21
SPAXX:
3.45
FDRXX:
0.00%
SPAXX:
0.00%
FDRXX:
1.40%
SPAXX:
1.29%
FDRXX:
0.00%
SPAXX:
0.00%
FDRXX:
0.00%
SPAXX:
0.00%
Returns By Period
Both investments have delivered pretty close results over the past 10 years, with FDRXX having a 1.22% annualized return and SPAXX not far behind at 1.21%.
FDRXX
0.00%
0.00%
1.95%
4.53%
2.22%
1.22%
SPAXX
0.00%
0.00%
1.94%
4.49%
2.21%
1.21%
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FDRXX vs. SPAXX - Expense Ratio Comparison
Risk-Adjusted Performance
FDRXX vs. SPAXX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Cash Reserves (FDRXX) and Fidelity Government Money Market Fund (SPAXX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
FDRXX vs. SPAXX - Dividend Comparison
FDRXX's dividend yield for the trailing twelve months is around 4.41%, which matches SPAXX's 4.39% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
FDRXX Fidelity Government Cash Reserves | 4.41% | 4.84% | 4.69% | 1.33% | 0.01% | 0.28% | 1.01% | 0.00% | 0.00% |
SPAXX Fidelity Government Money Market Fund | 4.39% | 4.81% | 4.68% | 1.30% | 0.01% | 0.26% | 0.98% | 0.00% | 0.00% |
Drawdowns
FDRXX vs. SPAXX - Drawdown Comparison
The maximum FDRXX drawdown since its inception was 0.00%, which is greater than SPAXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FDRXX and SPAXX. For additional features, visit the drawdowns tool.
Volatility
FDRXX vs. SPAXX - Volatility Comparison
The current volatility for Fidelity Government Cash Reserves (FDRXX) is 0.00%, while Fidelity Government Money Market Fund (SPAXX) has a volatility of 0.00%. This indicates that FDRXX experiences smaller price fluctuations and is considered to be less risky than SPAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.