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SPAXX vs. VMFXX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Key characteristics


SPAXXVMFXX
YTD Return0.86%4.46%
1Y Return1.27%5.39%
3Y Return (Ann)2.28%3.68%
5Y Return (Ann)1.44%2.35%
10Y Return (Ann)0.78%1.57%
Sharpe Ratio2.273.63
Ulcer Index0.00%0.00%
Daily Std Dev0.79%1.48%
Max Drawdown0.00%0.00%
Current Drawdown0.00%0.00%

Correlation

-0.50.00.51.00.5

The correlation between SPAXX and VMFXX is 0.52, 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 4.46% return. Over the past 10 years, SPAXX has underperformed VMFXX with an annualized return of 0.78%, while VMFXX has yielded a comparatively higher 1.57% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.


0.00%0.50%1.00%1.50%2.00%2.50%JuneJulyAugustSeptemberOctoberNovember0
2.64%
SPAXX
VMFXX

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SPAXX vs. VMFXX - Expense Ratio Comparison


VMFXX
Vanguard Federal Money Market Fund
Expense ratio chart for VMFXX: current value at 0.00% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.00%

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.


SPAXX
Sharpe ratio
The chart of Sharpe ratio for SPAXX, currently valued at 1.75, compared to the broader market0.002.004.001.75
Sortino ratio
No data
VMFXX
Sharpe ratio
The chart of Sharpe ratio for VMFXX, currently valued at 3.63, compared to the broader market0.002.004.003.63

SPAXX vs. VMFXX - Sharpe Ratio Comparison

The current SPAXX Sharpe Ratio is 2.27, which is lower than the VMFXX Sharpe Ratio of 3.63. The chart below compares the historical Sharpe Ratios of SPAXX and VMFXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio2.002.503.003.50JuneJulyAugustSeptemberOctoberNovember
1.75
3.63
SPAXX
VMFXX

Dividends

SPAXX vs. VMFXX - Dividend Comparison

SPAXX's dividend yield for the trailing twelve months is around 4.93%, less than VMFXX's 5.24% yield.


TTM20232022202120202019201820172016201520142013
SPAXX
Fidelity Government Money Market Fund
4.93%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
5.24%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.


0.00%JuneJulyAugustSeptemberOctoberNovember00
SPAXX
VMFXX

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 0.41%. 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.


0.00%0.10%0.20%0.30%0.40%0.50%0.60%JuneJulyAugustSeptemberOctoberNovember0
0.41%
SPAXX
VMFXX