VMFXX vs. SPAXX
Compare and contrast key facts about Vanguard Federal Money Market Fund (VMFXX) and Fidelity Government Money Market Fund (SPAXX).
VMFXX is managed by Vanguard. It was launched on Sep 1, 2010. 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: VMFXX or SPAXX.
Key characteristics
| VMFXX | SPAXX | |
|---|---|---|
| YTD Return | 3.59% | 0.86% |
| 1Y Return | 5.45% | 2.11% |
| 3Y Return (Ann) | 3.40% | 2.26% |
| 5Y Return (Ann) | 2.24% | 1.48% |
| 10Y Return (Ann) | 1.49% | 0.78% |
| Sharpe Ratio | 3.63 | 2.71 |
| Daily Std Dev | 1.49% | 1.00% |
| Max Drawdown | 0.00% | 0.00% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between VMFXX and SPAXX 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
VMFXX vs. SPAXX - Performance Comparison
In the year-to-date period, VMFXX achieves a 3.59% return, which is significantly higher than SPAXX's 0.86% return. Over the past 10 years, VMFXX has outperformed SPAXX with an annualized return of 1.49%, while SPAXX has yielded a comparatively lower 0.78% 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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VMFXX vs. SPAXX - Expense Ratio Comparison
Risk-Adjusted Performance
VMFXX vs. SPAXX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Federal Money Market Fund (VMFXX) 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
VMFXX vs. SPAXX - Dividend Comparison
VMFXX's dividend yield for the trailing twelve months is around 5.30%, more than SPAXX's 4.99% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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% |
Drawdowns
VMFXX vs. SPAXX - Drawdown Comparison
The maximum VMFXX 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 VMFXX and SPAXX. For additional features, visit the drawdowns tool.
Volatility
VMFXX vs. SPAXX - Volatility Comparison
Vanguard Federal Money Market Fund (VMFXX) has a higher volatility of 0.45% compared to Fidelity Government Money Market Fund (SPAXX) at 0.00%. This indicates that VMFXX's price experiences larger fluctuations and is considered to be riskier than SPAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.