SPAXX vs. FDRXX
Compare and contrast key facts about Fidelity Government Money Market Fund (SPAXX) and Fidelity Government Cash Reserves (FDRXX).
SPAXX is managed by Fidelity. It was launched on Feb 5, 1990. FDRXX is managed by Fidelity. It was launched on Dec 15, 1999.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPAXX or FDRXX.
Correlation
The correlation between SPAXX and FDRXX is 0.94, 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
SPAXX vs. FDRXX - Performance Comparison
Key characteristics
SPAXX:
3.22
FDRXX:
3.23
SPAXX:
0.00%
FDRXX:
0.00%
SPAXX:
1.34%
FDRXX:
1.34%
SPAXX:
0.00%
FDRXX:
0.00%
SPAXX:
0.00%
FDRXX:
0.00%
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with SPAXX at 0.65% and FDRXX at 0.65%. Both investments have delivered pretty close results over the past 10 years, with SPAXX having a 1.28% annualized return and FDRXX not far ahead at 1.29%.
SPAXX
0.65%
0.00%
1.76%
4.32%
2.31%
1.28%
FDRXX
0.65%
0.00%
1.78%
4.35%
2.32%
1.29%
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SPAXX vs. FDRXX - Expense Ratio Comparison
Risk-Adjusted Performance
SPAXX vs. FDRXX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Money Market Fund (SPAXX) and Fidelity Government Cash Reserves (FDRXX). 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
SPAXX vs. FDRXX - Dividend Comparison
SPAXX's dividend yield for the trailing twelve months is around 4.22%, which matches FDRXX's 4.25% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|
SPAXX Fidelity Government Money Market Fund | 4.22% | 4.81% | 4.68% | 1.30% | 0.01% | 0.26% | 0.98% | 0.00% | 0.00% |
FDRXX Fidelity Government Cash Reserves | 4.25% | 4.84% | 4.69% | 1.33% | 0.01% | 0.28% | 1.01% | 0.00% | 0.00% |
Drawdowns
SPAXX vs. FDRXX - Drawdown Comparison
The maximum SPAXX drawdown since its inception was 0.00%, which is greater than FDRXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SPAXX and FDRXX. For additional features, visit the drawdowns tool.
Volatility
SPAXX vs. FDRXX - Volatility Comparison
The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while Fidelity Government Cash Reserves (FDRXX) has a volatility of 0.00%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than FDRXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.