Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of April 15, 2021 )
Institutional Money Funds 7-Day Yield%
Western Asset Prem Inst Liq Res Cap (WAAXX) 0.12
Goldman Sachs FS MM Inst (FSMXX) 0.10
DWS ESG Liquidity Inst (ESGXX) 0.09
JPMorgan Prime MM Capital (CJPXX) 0.09
State Street ESG Liq Reserve Prem (ELRXX) 0.09
Retail Money Funds 7-Day Yield%
Goldman Sachs Investor MM Inst (FMJXX) 0.10
Invesco Premier Investor (IMRXX) 0.05
Wells Fargo MMF Prime (WMPXX) 0.05
JPMorgan Liquid Assets Capit (CJLXX) 0.04
Fidelity Inv MM: MM Port Inst (FNSXX) 0.04
Tax Exempt Money Funds 7-Day Yield%
Federated Hermes Muni Obligs WS (MOFXX) 0.04
JPMorgan Municipal MM Inst (IJMXX) 0.02
BlackRock Lq MuniFund I (MFTXX) 0.01
Fidelity Inv MM: Tax Exempt I (FTCXX) 0.01
Invesco Tax-Free Cash Res Inst (TFPXX) 0.01

Money Market News

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SEC staffers published a paper entitled, "Prime MMFs at the Onset of the Pandemic: Asset Flows, Liquidity Buffers, and NAVs," which tells us, "Using weekly data filed by prime money market funds (MMFs) on a monthly Form N-MFP, this article offers a granular view of the funds' cash flows, liquidity buffers, and net asset values (NAVs) per share during the heightened market volatility at the onset of the pandemic in March 2020." Authors Viktoria Baklanova, Isaac Kuznits and Trevor Tatum explain, "Prime MMFs can invest in a broad range of short-term, high quality fixed-income instruments such as U.S. Treasury bills, federal agency notes, certificates of deposit, corporate commercial paper, repurchase agreements, and obligations of states, cities, or other types of municipal agencies. At the onset of the pandemic, in mid-March 2020, amidst heightened volatility throughout financial markets, investors redeemed $134 billion from prime and tax-exempt MMFs, while government MMFs received inflows of $838 billion.... Although the MMF industry as a whole grew during this period, the large outflows from prime MMFs highlighted the remaining structural vulnerabilities in these funds."

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Inside Money Fund Intelligence

MFI PDF April 2021 Issue

Largest Money Fund Managers

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The April 2021 issue of Money Fund Intelligence features: "Ultra-Short Buckets Ready: Bond Fund Symposium '21," which highlights comments from our recent online event; "BNY Mellon Liquidity Direct's George Maganas on Portals," which profiles one of the largest and oldest online money fund trading portals; and, "Worldwide MFs Rise in Q4'20 Led by China, Ireland, France," which reviews global MMF asset flows.

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 March 31, 2021. (MFI XLS contains percentile rankings, fund family rankings, MNAVs, WLA, portfolio composition, and more).

Excerpt from MFI XLS

About Crane Data LLC

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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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Apr 06
Ted Neely Retires from Goldman

Ted Neely has retired from Goldman Sachs. Jamie Puccinelli has assumed responsibility for the Chicago sales team (and already ran the NY and SF sales teams).

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Mar 25
Harder No Longer w/​City National

Robert Harder, Director - Short Duration Solutions & MMFs, is no longer with City National Rochdale, manager of the CNR Money Funds.

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Feb 26
BlackRock Promotes Nelson, Fischbach

BlackRock Cash Management appointed Gray Nelson new Global Head of Marketing, replacing Ellen Bockius (who moved elsewhere at BlackRock). Robert Fischbach has taken on the role of Head of U.S. Sales with Joe Ernst (FI Sales) and Kevin Fitzgerald (Corporate Sales) reporting to him.

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Crane Data News & Features

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Money Fund Symposium Sept. 21-23 in Philly

We've moved back the dates for our big show, Money Fund Symposium, which is now scheduled for Sept. 21-23, 2021 in Philadelphia, Pa.! We pushed the event back from June to give companies more time to relax travel restrictions, and we hope live conferences will resume later this year. But we'll be watching developments and will be happy to offer refunds or credits if anyone isn't comfortable travelling by then. Also, thanks to those who attended and supported our recent Bond Fund Symposium! Subscribers and attendees can access the recordings and materials via our "Bond Fund Symposium 2021 Download Center". Note that our European Money Fund Symposium is scheduled for October 21-22, 2021 in Paris, but we're watching restriction in Europe closely (and may shift this to a virtual event). Finally, mark your calendars for our 2022 events -- Money Fund University in Boston (Jan. 20-21) and Bond Fund Symposium in Newport Beach, Calif. (March 28-29). Let us know if you'd like more information about any of our shows, and we hope to see you back out on the road later in 2021!