Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Sept. 26, 2023 )
Institutional Money Funds 7-Day Yield%
Allspring Heritage Select (WFJXX) 5.45
UBS Select Prime Money Mkt Pref (SPPXX) 5.45
Western Asset Prem Inst Liq Res Cap (WAAXX) 5.45
State Street Inst Liq Reserve Prem (SSIXX) 5.44
Federated Hermes Inst MM Mgmt IS (MMPXX) 5.43
Retail Money Funds 7-Day Yield%
Allspring MMF Prm (WMPXX) 5.47
UBS Prime Preferred Fund (UPPXX) 5.44
Morgan Stanley IL ESG MMP W (MWMXX) 5.43
Invesco Premier Investor (IMRXX) 5.40
Federated Hermes Prime Cash Oblig WS (PCOXX) 5.39
Tax Exempt Money Funds 7-Day Yield%
Federated Hermes Muni Obligs WS (MOFXX) 3.46
Allspring Nat T-F Prem (WFNXX) 3.23
JPMorgan Municipal MM Inst (IJMXX) 3.18
Western Asset Select Tax Free Res Sel (CIFXX) 3.15
Schwab AMT Tax-Free MF Ultra (SCTXX) 3.11

Money Market News


A press release entitled, "Dreyfus Launches SPARK Shares of Dreyfus Government Cash Management Available Exclusively through BNY Mellon," tells us, "Dreyfus, one of the largest, trusted cash and liquidity managers, announced today the launch of SPARK shares (SPKXX). The share class allows clients to drive change with their liquidity investments by directing a donation to an eligible non-profit organization of their choice. The donation is expected to result in a positive, quantifiable impact for the selected organization." (Note: Thanks again to those who attended our European Money Fund Symposium in Edinburgh this week! Mark your calendars for next year's show, Sept. 19-20, 2024 in London!)


Inside Money Fund Intelligence

MFI PDF September 2023 Issue

Largest Money Fund Managers

MFI pdf icon

The September 2023 issue of Money Fund Intelligence features: "MF Assets Break $6.0 Trillion; Retail Still Driving, Inst Next?," which reviews the dramatic growth in retail assets; "Dechert on Recent Reforms; Diving Into Liquidity Fees," which excerpts from a recent webinar; and, "15-Years Ago: A Look Back at Reserve 'Breaking the Buck'," which reviews the events that occurred in September 2008.

Each monthly issue of Money Fund Intelligence features news, performance information and rankings on money market mutual funds. Statistics include: assets, weighted average maturity, weighted average life, expense ratio, 7-day yield, 30-day yield, 1-year, 3-yr, 5-yr, 10-yr, and since inception return, as well as 7- and 30-day gross yields. MFI also contains tables of the top-yielding and the largest money funds, and our benchmark Crane Money Fund Indexes.

Subscriptions are $500 a year, and include online access to archived issues and additional features. Bulk discounts and site licenses are available. Write info@cranedata.com or call 1-508-439-4419 to subscribe or to request more information.

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The table below is excerpted from our monthly spreadsheet product, Money Fund Intelligence XLS. It shows the largest money market mutual fund managers as of August 31, 2023. (MFI XLS contains percentile rankings, fund family rankings, MNAVs, WLA, portfolio composition, and more).

Excerpt from MFI XLS

About Crane Data LLC

origami crane

Crane Data is a money market and mutual fund information company founded by Peter G. Crane and Shaun Cutts. We collect money market mutual fund, bank savings, and cash investment performance, statistics, and information and distribute rankings, news, and indexes.

Crane Data publishes Money Fund Intelligence, Money Fund Intelligence XLS, Money Fund Wisdom, the Crane Money Fund Indexes, and a series of products tracking money markets, mutual funds and cash investments. We also produce conferences, including Crane's Money Fund Symposium. For more information and samples, e-mail info@cranedata.com or call us at 1-508-439-4419.


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Sep 18
La-​Yona Rauls to Speak at IL Forum

La-Yona Rauls of Mischler Financial Group will be speaking at the Illinois State Treasurer's Diversity in Investments Forum on Thurs., Sept. 21 in Chicago.

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Sep 05
Dallas Ebel Joins Ramirez A.​M.

Dallas Ebel has joined Ramirez Asset Management as a Managing Director. He was previously with BlackRock and Bank of America.

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Aug 24
CAVU Securities Seeks Cash Sales

CAVU Securities is seeking someone for Institutional Sales - Cash Solutions. For more information, contact Sue Ann Cormack.

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Crane Data News & Features

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European Money Fund Symposium, Sept. 25-26

Thank you to those who attended and supported our Money Fund Symposium in Atlanta, Ga.! Mark your calendars for our next big MFS show in Pittsburgh, June 12-14, 2024. We're now making plans for our upcoming European Money Fund Symposium, which will take place Sept. 25-26, 2023 in Edinburgh, Scotland. Mark your calendars too for our "basic training" event, Money Fund University, scheduled for Dec. 18-19, 2023, in Jersey City, NJ, and next year's Bond Fund Symposium, March 25-26, 2024 in Philadelphia, Pa. Note that Money Fund Symposium conference recordings and materials are available to conference attendees and Crane Data subscribers via our Money Fund Symposium 2023 Download Center, and at the bottom of our "Content" page. Watch for more details in coming months, and let us know if you'd like more information on any of our shows. We hope to see you in Edinburgh in September or Jersey City in December!