Which is a good money market fund with high yield

``` The deep research logic is organized as follows: Okay, let's tackle this question about finding a good money market fund with a high yield. The user is interested in high yield, so I need to focus on funds that offer competitive returns. First, I'll check the references provided. Looking at Reference 2, there's a list of top money market funds for August 2025. The JPMorgan Prime Money Market Fund (VMVXX) has a yield of 4.14%, which is the highest among the listed options. The expense ratio is 0.34%, which is reasonable. The fund has $241.6 billion in assets, indicating liquidity. The minimum investment is none, which is great for accessibility. Next, the Invesco Government Money Market Fund (INAXX) offers a 4.05% yield with a slightly higher expense ratio of 0.48%. The Fidelity Money Market Fund (SPRXX) has a 4.03% yield and a 0.42% expense ratio. The Vanguard Municipal Money Market Fund (VMSXX) yields 4.12% but is tax-exempt, which could be beneficial depending on the user's tax situation. I should also consider the user's profile. They're a growth-oriented investor interested in fintech and cryptocurrencies. While money market funds are typically low-risk, the user might appreciate knowing that some funds, like Fidelity's, are exploring crypto-related products. However, the main focus here is on yield and stability. The user's portfolio includes stocks like CRCL and GRRR, which are high-risk, so suggesting a stable, high-yield money market fund could serve as a good balance. The JPMorgan fund stands out for its high yield and low expense ratio. The Vanguard Municipal fund is another strong option if the user is in a high tax bracket. I need to present the top options clearly, highlighting their yields, expense ratios, and any unique features. Also, include a note on the risks, like the possibility of "breaking the buck," as mentioned in Reference 2. Make sure to cite the references properly and structure the answer with a conclusion, analysis, and a table for clarity. Finally, check if there are any other relevant references. References 1, 10, 15, 18, 23, 32, and 37 don't provide additional data, so focus on the ones that do. The user's interest in innovation might make the Fidelity fund's crypto activities a minor point, but the primary focus remains on yield and stability. ``` ### Conclusion 🎯 For a **high-yield money market fund** with stability and liquidity, the **JPMorgan Prime Money Market Fund (VMVXX)** and **Fidelity Money Market Fund (SPRXX)** are top choices in August 2025, offering **4.14%** and **4.03%** yields respectively. These funds balance **low risk** with **competitive returns**, making them ideal for short-term savings or as a **cash reserve** in a growth-oriented portfolio. --- ### Analysis 📊 #### **Top Money Market Funds by Yield (August 2025)** | Fund Name | Yield (TTM) | Expense Ratio | Assets Under Management | Minimum Investment | Key Features | |------------------------------------|--------------|---------------|-------------------------|--------------------|------------------------------------------------------------------------------| | **JPMorgan Prime Money Market Fund (VMVXX)** | **4.14%** | 0.34% | $241.6B | None | Highest yield in the list; invests in short-term corporate debt and repos. | | **Fidelity Money Market Fund (SPRXX)** | **4.03%** | 0.42% | $132.9B | None | Diversified short-term securities; no minimum investment. | | **Invesco Government Money Market Fund (INAXX)** | **4.05%** | 0.48% | $84.9B | $1,000 | Focuses on U.S. government securities; moderate expense ratio. | | **Vanguard Municipal Money Market Fund (VMSXX)** | **4.12%** | 0.33% | $6.4B | $1,000 | Tax-exempt income; ideal for high-tax bracket investors. | #### **Key Considerations** 1. **Yield Comparison**: - The **JPMorgan Prime Fund (VMVXX)** leads with the highest yield (**4.14%**) and the lowest expense ratio (**0.34%**), making it the most cost-effective option. - The **Vanguard Municipal Fund (VMSXX)** offers a **tax-exempt yield** of **4.12%**, which can be more attractive for investors in higher tax brackets. 2. **Risk Profile**: - Money market funds aim to maintain a **$1.00 net asset value (NAV)**, but there’s a **small risk** of “breaking the buck” (NAV dropping below $1.00) during market stress, as seen during the 2008 financial crisis . 3. **Liquidity**: - All funds listed have **high liquidity**, with no lock-up periods. The **JPMorgan** and **Fidelity** funds have **no minimum investment**, making them accessible for small savers. 4. **Innovation Angle**: - Fidelity has been exploring **crypto-related products** (e.g., tokenized treasuries) , which aligns with your interest in fintech and blockchain. However, these are separate from their money market funds. --- ### Final Recommendation 🎯 For **high yield** and **low risk**, prioritize the **JPMorgan Prime Money Market Fund (VMVXX)**. If you’re in a **high-tax bracket**, the **Vanguard Municipal Money Market Fund (VMSXX)** is a better fit. Both funds align with your growth-oriented strategy by providing a **stable cash reserve** while earning competitive returns.