Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Oct. 1, 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


The Securities and Exchange Commission's latest monthly "Money Market Fund Statistics" summary shows that total money fund assets increased by $114.2 billion in August to a record high of $6.073 trillion. The SEC shows Prime MMFs jumping $18.5 billion in August to $1.259 trillion, Govt & Treasury funds increased $92.2 billion to $4.692 trillion and Tax Exempt funds increased $3.5 billion to $122.6 billion. Taxable yields jumped again in August after moving higher in July. The SEC's Division of Investment Management summarizes monthly Form N-MFP data and includes asset totals and averages for yields, liquidity levels, WAMs, WALs, holdings, and other money market fund trends. We review their latest numbers below. (Month-to-date in September through 9/27, total money fund assets have increased by $52.5 billion to $6.032 trillion, according to our separate, and slightly smaller, MFI Daily series.) (Note: Thank you to everyone who joined us at our European Money Fund Symposium last week in Edinburgh. Mark your calendars for next year's European MFS, which is scheduled for 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

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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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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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Money Fund University, Dec. 18-19 in NJ

Thank you to those who attended our European Money Fund Symposium in Edinburgh! Mark your calendars for our next European MFS show in London, Sept. 19-20, 2024. We're now making plans for our upcoming "basic training" event, Money Fund University, scheduled for Dec. 18-19, 2023, in Jersey City, NJ, and our next Bond Fund Symposium, March 25-26, 2024 in Philadelphia, Pa. Mark your calendars too for next year’s big show, Money Fund Symposium, which will be held June 12-14, 2024, in Pittsburgh. Contact us if you’d like to see the materials for our European event. (They’re not posted on our website.) Other conference recordings and materials are available at the bottom of our "Content" page. Watch for more details on upcoming shows in coming months, and let us know if you'd like more information on any of our shows. We hope to see you in Jersey City in December, in Philadelphia in March, in Pittsburgh in June or in London next year!