PortfoliosLab logo
PortfoliosLab logo
Tools
Performance Analysis
Portfolio Analysis
Factor Model
Portfolios
Lazy PortfoliosUser Portfolios
Discussions
SPAXX vs. VMFXX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Performance

SPAXX vs. VMFXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Government Money Market Fund (SPAXX) and Vanguard Federal Money Market Fund (VMFXX). The values are adjusted to include any dividend payments, if applicable.

8.00%10.00%12.00%14.00%16.00%JuneJulyAugustSeptemberOctoberNovember
7.99%
16.88%
SPAXX
VMFXX

Returns By Period

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.


SPAXX

YTD

0.86%

1M

0.00%

6M

0.00%

1Y

1.27%

5Y (annualized)

1.43%

10Y (annualized)

0.78%

VMFXX

YTD

4.46%

1M

0.41%

6M

2.64%

1Y

5.39%

5Y (annualized)

2.34%

10Y (annualized)

1.57%

Key characteristics


SPAXXVMFXX
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%

Compare stocks, funds, or ETFs

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


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%

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.

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.


Sharpe ratio
The chart of Sharpe ratio for SPAXX, currently valued at 1.42, compared to the broader market-1.000.001.002.003.004.005.001.423.46
No data
SPAXX
VMFXX

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 Ratio1.502.002.503.003.50JuneJulyAugustSeptemberOctoberNovember
1.42
3.46
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