Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of March 22, 2023 )
Institutional Money Funds 7-Day Yield%
JPMorgan Prime MM Capital (CJPXX) 4.79
Western Asset Prem Inst Liq Res Cap (WAAXX) 4.79
DWS ESG Liquidity Inst (ESGXX) 4.73
Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) 4.71
Allspring Heritage Select (WFJXX) 4.71
Retail Money Funds 7-Day Yield%
JPMorgan Liquid Assets Cap (CJLXX) 4.71
Allspring MMF Prm (WMPXX) 4.69
Morgan Stanley IL ESG MMP W (MWMXX) 4.68
UBS Prime Preferred Fund (UPPXX) 4.66
Schwab Value Adv MF Ultra (SNAXX) 4.63
Tax Exempt Money Funds 7-Day Yield%
Federated Hermes Muni Obligs WS (MOFXX) 2.44
Allspring Muni Cash Mg MM Inst (EMMXX) 2.33
Schwab Municipal MF Ultra (SWOXX) 2.25
Fidelity Inv MM: Tax Exempt I (FTCXX) 2.19
Vanguard Municipal MMF (VMSXX) 2.16

Money Market News


The Securities and Exchange Commission's latest monthly "Money Market Fund Statistics" summary shows that total money fund assets increased by $52.1 billion in February to an all-time high of $5.340 trillion. Assets at February month-end were above their previous $5.29 trillion January 2023 record. The SEC shows that Prime MMFs increased by $35.4 billion in February to $1.173 trillion, Govt & Treasury funds increased $16.1 billion to $4.048 trillion and Tax Exempt funds increased $0.6 billion to $119.8 billion. Taxable yields jumped again in February after surging in January. 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 March through 3/21, total MMF assets have skyrocketed by $242.0 billion to a record $5.494 trillion, according to our MFI Daily.) (Note: For `those attending this week's Bond Fund Symposium, welcome to Boston! Attendees and subscribers may access the materials in our "Bond Fund Symposium 2023 Download Center.")


Inside Money Fund Intelligence

MFI PDF March 2023 Issue

Largest Money Fund Managers

MFI pdf icon

The March 2023 issue of Money Fund Intelligence features: "Treasury MMFs Brace for Debt Ceiling Faceoff, Supply Shock," which reviews the risk to Treasury funds; "BlackRock's Matt Clay on European MMF Landscape," which quotes from a recent ICD webinar; and, "Federated 10-K Sheds Light on Regulatory Environment," which excerpts from Federated Hermes' annual report.

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.

MFI xls icon

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 Feb. 28, 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.


more »

Mar 09
Peter Yi No Longer at Northern Trust

Peter Yi, a pioneer of cash segmentation, is no longer with Northern Trust Asset Management.

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Feb 12
Morin Forms MM Cash; Green Not AB

Michael Morin, formerly at Fidelity, has formed MM Cash Consulting, and Zachary Green is no longer with AB (Alliance Bernstein).

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Feb 08
Northern Trust AM Seeking Sales

Northern Trust Asset Management is seeking a Senior Associate Relationship Manager, Investments. Click here for details.

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Crane Data News & Features

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Bond Fund Symposium, March 23-24, Boston

We look forward to seeing you at our upcoming Bond Fund Symposium, which is March 23-24, 2023, in Boston, Mass. Bond Fund Symposium is our event focused on ultra-short bond funds. We hope you'll join us! Also, start making plans for our next big show, Money Fund Symposium, which will take place June 21-23, 2023, in Atlanta, Ga. Finally, mark your calendars for our next European Money Fund Symposium, scheduled for Sept. 25-26, 2023 in Edinburgh, Scotland, and our next Money Fund University, scheduled for Dec. 18-19, 2023, in Jersey City, NJ. 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 Boston this month, in Atlanta in June or in Edinburgh in September! Note that conference recordings and materials (excluding our European event) are available to conference attendees and Crane Data subscribers at the bottom of our "Content" page.