Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of May 16, 2022 )
Institutional Money Funds 7-Day Yield%
UBS Select ESG Prime Preferred Fund (SSPXX) 0.84
State Street ESG Liq Reserve Prem (ELRXX) 0.82
Federated Hermes Inst MM Mgmt IS (MMPXX) 0.82
DWS ESG Liquidity Inst (ESGXX) 0.81
Western Asset Prem Inst Liq Res Cap (WAAXX) 0.81
Retail Money Funds 7-Day Yield%
Allspring MMF Prm (WMPXX) 0.80
UBS Prime Preferred Fund (UPPXX) 0.77
Fidelity Inv MM: MM Port Inst (FNSXX) 0.75
JPMorgan Liquid Assets Capit (CJLXX) 0.75
Federated Hermes Prime Cash Oblig WS (PCOXX) 0.74
Tax Exempt Money Funds 7-Day Yield%
Dreyfus AMT Free T-E Cash Mg In (DEIXX) 0.59
Federated Hermes Muni Obligs WS (MOFXX) 0.59
Vanguard Municipal MMF (VMSXX) 0.57
Schwab Municipal MF Ultra (SWOXX) 0.56
JPMorgan Inst Tax Free MM Capital (JOCXX) 0.56

Money Market News


It's been almost 2 weeks since the Federal Reserve raised its Federal funds rate by another 50 basis points, and money market fund yields continue to climb higher after a big jump last week. While they've yet to reflect the full 50 basis point increase (and may not entirely due to the last of the fee waivers being reduced), yields have risen noticeably since the March 16 25 bps hike and the May 4 50 bps hike. Our flagship Crane 100 Money Fund Index started March 2022 at 0.02% (where is had been pinned for 2 years), rose to 0.13% the week following the March hike, and has jumped to 0.52% as of Friday, 5/13. Brokerage sweep rates have also started to move. Our latest Brokerage Sweep Intelligence shows most brokerages still paying 0.01% yields (on FDIC insured deposits), but several brokerages raised rates this week. We review the latest money fund and brokerage sweep yields below. (Note: Thanks to those who participated in SIFMA's AMA Roundtable in Phoenix! We hope to see you again next month at our Money Fund Symposium in Minneapolis, June 20-22.)


Inside Money Fund Intelligence

MFI PDF February 2022 Issue

Largest Money Fund Managers

MFI pdf icon

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

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.


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Apr 20
Monteiro Moves to BNY Mellon UK

Oscar Monteiro is the new Head of European Institutional Liquidity Sales at BNY Mellon Investment Management.

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Apr 14
Schidlovsky Moves to KBRA

Constantine Schidlovsky is now Senior Director, Global Head of Funds Business Development at KBRA. He was formerly at Fitch Ratings.

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Apr 08
Citi Treasury Portal Seeks VP

Citi Treasury & Trade Solutions is seeking a VP, Liquidity Solution Specialist in San Francisco. Click here for details.

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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.