SPAXX vs. VMFXX
Compare and contrast key facts about Fidelity Government Money Market Fund (SPAXX) and Vanguard Federal Money Market Fund (VMFXX).
SPAXX is managed by Fidelity. It was launched on Feb 5, 1990. VMFXX is managed by Vanguard. It was launched on Sep 1, 2010.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPAXX or VMFXX.
Key characteristics
| SPAXX | VMFXX | |
|---|---|---|
| YTD Return | 0.86% | 3.59% |
| 1Y Return | 2.11% | 5.45% |
| 3Y Return (Ann) | 2.26% | 3.40% |
| 5Y Return (Ann) | 1.49% | 2.25% |
| 10Y Return (Ann) | 0.78% | 1.49% |
| Sharpe Ratio | 2.71 | 3.63 |
| Daily Std Dev | 1.00% | 1.50% |
| Max Drawdown | 0.00% | 0.00% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between SPAXX and VMFXX is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
SPAXX vs. VMFXX - Performance Comparison
In the year-to-date period, SPAXX achieves a 0.86% return, which is significantly lower than VMFXX's 3.59% return. Over the past 10 years, SPAXX has underperformed VMFXX with an annualized return of 0.78%, while VMFXX has yielded a comparatively higher 1.49% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPAXX vs. VMFXX - Expense Ratio Comparison
Risk-Adjusted Performance
SPAXX vs. VMFXX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Money Market Fund (SPAXX) and Vanguard Federal Money Market Fund (VMFXX). 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. VMFXX - Dividend Comparison
SPAXX's dividend yield for the trailing twelve months is around 4.99%, less than VMFXX's 5.30% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPAXX Fidelity Government Money Market Fund | 4.99% | 4.68% | 1.30% | 0.01% | 0.26% | 0.98% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VMFXX Vanguard Federal Money Market Fund | 5.30% | 4.97% | 1.54% | 0.01% | 0.45% | 2.12% | 1.61% | 0.50% | 0.00% | 0.00% | 0.00% | 0.01% |
Drawdowns
SPAXX vs. VMFXX - Drawdown Comparison
The maximum SPAXX drawdown since its inception was 0.00%, which is greater than VMFXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SPAXX and VMFXX. For additional features, visit the drawdowns tool.
Volatility
SPAXX vs. VMFXX - Volatility Comparison
The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while Vanguard Federal Money Market Fund (VMFXX) has a volatility of 0.45%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than VMFXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.