Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Sept. 18, 2019 )
Institutional Money Funds 7-Day Yield%
DWS ESG Liquidity Fund Cap (ESIXX) 2.48
Federated Inst MM Mgmt IS (MMPXX) 2.37
State Street Inst Liquid Res Prem (SSIXX) 2.37
BlackRock LEAF Direct (LEDXX) 2.35
Dreyfus Cash Mgmt Institutional (DICXX) 2.31
Retail Money Funds 7-Day Yield%
JPMorgan Liquid Assets Capit (CJLXX) 2.31
Goldman Sachs Investor MM Inst (FMJXX) 2.29
UBS Prime Preferred Fund (UPPXX) 2.25
Federated Prime Cash ObIig WS (PCOXX) 2.25
Wells Fargo MMF Prime (WMPXX) 2.25
Tax Exempt Money Funds 7-Day Yield%
Wells Fargo Muni Cash Mg MM Prem (EMMXX) 1.33
Federated Municipal Oblig WS (MOFXX) 1.28
Invesco Premier Tax-Exempt Instit (PEIXX) 1.26
Vanguard Municipal MMF (VMSXX) 1.24
UBS Tax-Free Preferred (SFPXX) 1.23

Money Market News


The Federal Reserve Board cut interest rates again yesterday, lowering its Federal funds target rate range to 1.75-2.00 percent, its second cut in a month and a half. The Fed's previous cut on July 31 was the first reduction in over 10 years. (See our Aug. 1 News, "Fed Cuts Rates Quarter to 2.0-2.25 Percent; FP on USAA, Schwab Deal.") Money fund yields, which jumped Tuesday on the mysterious spike in repo rates, are expected to fall in coming days and to pass through the 25 basis point decline over the next month. We review the Fed move, the repo anomaly, and a couple other recent articles, below.


Inside Money Fund Intelligence

MFI PDF September 2019 Issue

Largest Money Fund Managers

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The September 2019 issue of Money Fund Intelligence features: "Sweeps Get Messy: Fidelity vs. Schwab; Lawsuit," which reviews the recent attention around money funds vs. FDIC sweeps; "FIS SGN's Vogel & Borchardt on Portals, Tech and Reforms," which profiles the portal formerly named SunGard; and, "MFI Intl Shows Euro Assets Jumping Despite Negative," which discusses assets and issues in "offshore" or European money market mutual funds.

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, 2019. (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 08
Levitt Joins TriState

Jesse Levitt has started as a Senior VP of National Deposit Sales & Liquidity Solutions for Pittsburgh-based TriState Capital. Levitt was previously with OppenheimerFunds.

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Sep 05
Hill Retires from BNY

Dan Hill has retired from BNY Mellon.

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Jul 29
Federated'​s Maloney Passes

We were saddened to hear that Federated Investors' Eugene Maloney passed away. (See his Obituary and our July 24 Link of the Day.) Our deepest condolences go out to Federated, his family, friends and associates of Gene.

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Crane Data News & Features

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European Money Fund Symposium

We look forward to seeing some of you soon at our next European Money Fund Symposium, which will be held Sept. 23-24, 2019, in Dublin, Ireland. Mark your calendars for our next Money Fund University, Jan. 23-24, 2020, in Providence, R.I., our next Bond Fund Symposium, March 25-26, 2020 in Boston, and our next Money Fund Symposium, June 24-26, 2020, in Minneapolis. Conference recordings, Powerpoints and materials from our latest shows are available to attendees and Crane subscribers at the bottom of our "Content Center". We hope to see you in Dublin soon, or in Providence, Boston or Minneapolis in 2020!

Bond Fund Wisdom

Our new Bond Fund Wisdom product "suite" includes our Bond Fund Intelligence newsletter, our monthly BFI XLS spreadsheet, and our Bond Fund Portfolio Holdings data sets. We'll soon be launching a BFI Daily component as well. Let us know if you'd like to see any of Crane Data's bond fund information products, or if you'd like to see any of our money fund info too. We're happy to send you the latest issues or files!