Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Sept. 25, 2018 )
Institutional Money Funds 7-Day Yield%
DWS ESG Liduidity Fund (ESIXX) 2.18
Goldman Sachs FS MM Inst (FSMXX) 2.17
Dreyfus Cash Mgmt Institutional (DICXX) 2.12
Northern Inst Prime Oblig Sh (NPAXX) 2.11
Morgan Stanley Inst Liq Prime Inst (MPFXX) 2.11
Retail Money Funds 7-Day Yield%
Vanguard Prime MMF Adm (VMRXX) 2.17
Fidelity Inv MM: MM Port Inst (FNSXX) 2.12
Goldman Sachs Investor MM Inst (FMJXX) 2.06
JPMorgan Liquid Assets Capit (CJLXX) 2.06
Schwab Value Adv MF Ultra (SNAXX) 2.04
Tax Exempt Money Funds 7-Day Yield%
Federated Municipal Obligs WS (MOFXX) 1.42
Vanguard Municipal MMF (VMSXX) 1.42
Wells Fargo Muni Cash Mg MM Prem (EMMXX) 1.41
Fidelity Inv MM: Tax Exempt I (FTCXX) 1.39
Schwab Municipal MF Ultra (SWOXX) 1.37

Money Market News

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While a couple firms have launched "national" Institutional Tax Exempt Money Market Funds, BlackRock will become the first manager to convert a State Tax Exempt MMF from Retail to Institutional. A statement entitled, "BlackRock California Money Fund and New York Money Fund to be Designated Institutional Money Market Funds," tells us, "In 2016, the BlackRock California Money Fund and the BlackRock New York Money Fund … were each designated a 'Retail Money Market Fund,' under the new definition of Rule 2a-7 under the Investment Company Act of 1940, as amended. In particular, this designation allowed the Funds to maintain a constant net asset value per share ('CNAV') by adopting the amortized cost accounting method, so long as access was permitted to only 'natural persons.'"

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Inside Money Fund Intelligence

MFI PDF September 2018 Issue

Largest Money Fund Managers

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The September 2018 issue of Money Fund Intelligence features: "Ten Years After: Reserve Fund 'Breaks the Buck'," which discusses the anniversary of the Global Financial Crisis; "New IMMFA Chair Hochfeld on European MMF Reforms," which profiles Morgan Stanley's Kim Hochfeld; and, "DWS Launches ESG Liquidity, Socially Responsible MMF," which reviews a new fund conversion from DWS.

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 inquiry@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, 2018. (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 inquiry@cranedata.com or call us at 1-508-439-4419.


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Sep 18
Kraus Starts at Citi

Steve Kraus is a new Vice President of NA Liquidity Sales for Citi - Treasury & Trade Solutions.

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Aug 31
Jones Goes Western

Matt Jones is the new Head of Liquidity reporting to Marzo Bernardi at Western Asset Management. He was previously at BlackRock.

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Aug 29
Hochfeld New IMMFA Chair

Kim Hochfeld from Morgan Stanley Investment Management has been elected Chair of IMMFA, the Institutional Money Market Funds Association. She replaces Reyer Kooy of DWS.

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Crane Data News & Features

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Crane's Money Fund Conferences

Thanks to those who attended our recent European Money Fund Symposium in London! Mark your calendars for next year's event, which will be Sept. 23-24, 2019, at the Dublin Hilton. (Watch for details early in 2019.) Also, mark your calendars for our next "big show," Money Fund Symposium, which will take place June 24-25, 2019, in Boston, and registrations are open for our next Money Fund University, which will be January 17-18, 2019 in Stamford, Conn. Finally, start making plans for our next Bond Fund Symposium, which will be held March 25-26, 2019 in Philadelphia. We’d be happy to discuss any of these events further, and we hope to see you in Stamford, Philly, Boston or Dublin in 2019!