Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of June 27, 2022 )
Institutional Money Funds 7-Day Yield%
Allspring Heritage Select (WFJXX) 1.51
State Street ESG Liq Reserve Prem (ELRXX) 1.49
Morgan Stanley Inst Liq Prime Inst (MPFXX) 1.48
Federated Hermes Inst MM Mgmt IS (MMPXX) 1.47
UBS Select ESG Prime Preferred Fund (SSPXX) 1.45
Retail Money Funds 7-Day Yield%
Allspring MMF Prm (WMPXX) 1.51
Fidelity Inv MM: MM Port Inst (FNSXX) 1.49
Federated Hermes Prime Cash Oblig WS (PCOXX) 1.41
JPMorgan Liquid Assets Cap (CJLXX) 1.40
BlackRock Wealth LEAF Inst (PNIXX) 1.39
Tax Exempt Money Funds 7-Day Yield%
Allspring Muni Cash Mg MM Inst (EMMXX) 0.89
Federated Hermes Muni Obligs WS (MOFXX) 0.87
Schwab Municipal MF Ultra (SWOXX) 0.83
Vanguard Municipal MMF (VMSXX) 0.82
Fidelity NJ AMT Tax-Free MM Inst (FSKXX) 0.82

Money Market News

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Money market fund yields have surged by 50 basis points since the Federal Reserve's 75-basis-point rate hike on June 15. The 7-Day Yield Average for our flagship Crane 100 Money Fund Index rose by 27 basis points to 1.15% in the week ended Friday, 6/24, after rising by 23 basis points on June 16 and 17. Last week was the first time money funds yielded over 1.0% since February 2020. The average has almost doubled from 0.58% on May 31, and is up from 0.21% on April 29, 0.15% on March 31 and 0.02% on February 28 (where it had been for almost 2 years prior). Brokerage sweep rates also jumped over the past week as Fidelity more than doubled its FDIC insured sweep rates, and Raymond James and Schwab also moved rates higher. Our latest Brokerage Sweep Intelligence shows most brokerages now paying an average of 0.11% or higher (on FDIC insured deposits), up from 0.04% a month ago. We review the latest money fund and brokerage sweep yields below.

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Inside Money Fund Intelligence

MFI PDF February 2022 Issue

Largest Money Fund Managers

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The February 2022 issue of Money Fund Intelligence features: "Fee Waivers Poised to Shrink, MMF Revenue Ready to Jump," which discusses recent earnings calls and expectations for Fed hikes to remove waivers; "Money Fund University '22 Highlights: Supply, New Regs," which quotes from our latest basic training conference; and, "Swing Pricing Main Focus in SEC's Money Fund Reforms," which covers articles explaining the SEC's controversial fee proposal.

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 January 31, 2022. (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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Jun 07
Cap Advisors Looking on West Coast

Capital Advisors Group is seeking to expand its West Coast Business Development Team. See details here and contact Ray Facinelli if interested.

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Jun 01
TriState Capital Seeks Sales Officer

TriState Capital Bank is seeking a National Deposit Sales Officer to be based in Pittsburgh, Pa (or remote). Click here for details or contact Jesse Levitt.

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May 24
Northern Seeks Product Manager

Northern Trust Asset Management is seeking a Senior Strategic Product Manager, Liquidity.

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Crane Data News & Features

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Bond Fund Symposium Going to Calif.

Please join us for our next live conference, Bond Fund Symposium, which will take place in person March 28-29, 2022 in Newport Beach, Calif. Bond Fund Symposium focuses on ultra-short bond funds and investing beyond money market funds. Also, mark your calendars for our next big show, Money Fund Symposium, which is scheduled for June 20-22, 2022 in Minneapolis, Minn., and for our next European Money Fund Symposium, which is scheduled for Sept. 27-28, 2022 in Paris, France. Finally, thanks to those who attended and supported our recent Money Fund University. We'll hold our next MFU on Dec. 15-16, 2022 in Boston, Mass. Watch for details in coming months. Let us know if you'd like more information on any of our shows, and we hope to see you back out on the road soon! Note that conference recordings and materials are available to conference attendees and Crane Data subscribers at the bottom of our "Content" page.