A money market fund's 7-day yield takes the income the fund earned over the last seven days, after expenses, and states it as an annual rate. It is the standard way money market funds quote yield.
Examples from the current data
As of August 31, 2026, Fidelity Government Money Market Fund (SPAXX) reported a 7-day net yield of 3.33%, and Vanguard Federal Money Market Fund (VMFXX) reported 3.63%, on Form N-MFP. Their expense ratios are 0.42% and 0.11%. Expenses are already taken out of the net yield, which is one reason yields differ between funds holding similar securities.
These figures come from the SPAXX and VMFXX pages linked above.
Other figures on money market pages
- Category: government, prime or tax-exempt, as each fund reports.
- Weighted average maturity (WAM): how many days, on average, until the fund's holdings mature. SPAXX reported 42 days and VMFXX 24 days.
- Net assets and minimum investment, from the same filing.
See the highest-yield money market funds and the money market directory. Yields change daily; FundVersus updates them monthly.