Fund Detail: USAA Money Market Fund
(as of Apr 30, 2008)
The following data is available free of charge, after registration.
| Basic | |||
|---|---|---|---|
| Ticker Symbol | Target | ||
| AM (days) | Category | ||
| Assets ($M) | Minimum ($K) | ||
| Expenses | Inception | ||
| 7-Day Effective | AAA-Rated | ||
| 7-Day Yield | 7-Day Rank1 | ||
| 30-Day Yield | 30-Day Rank1 | ||
| Contact | |||
| Fund Phone | |||
| Website | http://www.usaa.com | ||
The following information is available to subscribers of Money Fund Intelligence:
| Returns | |||
|---|---|---|---|
| 1-Year 2 | 1-Year Rank1 | ||
| 3-Year2 | 3-Year Rank1 | ||
| 5-Year2 | 1-Month3 | ||
| 10-Year 2 | 3-Month3 | ||
| Since Inception2 | YTD3 | ||
| Legend | |
|---|---|
| 1) Rankings within fund's type and category.
2) Annualized compound returns. 3) Cumulative simple returns. 4) Approximation; may be inexact due to rounding errors. |
|
More information fields, and sorting capabilities, available in Money Fund Intelligence and Money Fund Intelligence XLS hardcopy.
Definitions & Formulas
Crane Data makes every effort to obtain the most accurate statistics possible but we cannot be held responsible for incorrect information. Information is obtained from multiple sources. Money Fund Intelligence™ is for informational purposes only and should not be considered investment advice. Prospectuses and advisers should be consulted before investing. Money funds are not guaranteed by the FDIC or any government agency and may lose value. Italics indicates dated or estimated information. Additional funds, fund types, and averages will be added in coming months. Fund: Name of portfolio and share class. We attempt to list the full legal name, but abbreviations and changes are often needed. MMF=Money Market Fund, Inst=Institutional, Govt=Government. Symbol: NASDAQ Ticker Symbol. If a fund has no ticker, we assign an ID with a number in it (e.g. AIM01). Assets: Total share class investments in millions of dollars. Portfolio assets are available in MFI XLS. AM: Average weighted maturity (in # of days). Exp%: Total Expense Ratio (after waivers) as annual percentage, includes all management, 12b-1, shareholder service and administrative fees. Obtained from prospectus, accountant, fund management company or website. 7Day%: 7-Day (SEC) simple annualized yield in percent. Dividends paid over 7 days are added, divided by 7, then multiplied by 365*100 (for %). (To compound, use the SEC's formula from Form N-1A. Effective Yield= [(Base Period Return + 1)365/7] -1) 1Month: monthly return annualized in percent. 3Mo: 3-month cumulative (unannualized) returns in %. YTD: Year-to-date returns (unannnualized in %). 1 Yr%: One year total return (annualized, compound). 3Yr%: Average annualized returns for prior 36 months. 5Yr%: Average annualized total returns for prior 60 months. 10Yr%: Average annualized total returns for prior 120 months. Incept: Average annualized return since inception. Inception Date: Fund's first day of operation. Gross7: Gross 7-day yield in % (simple), calculated by adding expense ratio to current 7-day yield (annualized).
Link of the Day
more links »IndexUniverse: More on "Cash" ETFs
Website IndexUniverse writes "ETFs 'Poaching' the Market", which discusses the possibility of a "money market ETF". It cites the recent filing of SSgA's SPDR S&P Commercial Paper ETF and the recent launch of WisdomTree's U.S. Current Income Fund (USY), but says, "None of these funds, however, will be able to call themselves actual money markets just yet." It quotes our Peter Crane, "Right now, ETFs are beginning to hover around the edges of money market mutual funds. But they're not the same thing as money market mutual funds. The seeming simplicity of maintaining a stable value is actually a formidable obstacle for the ETF industry." Also, see Crane Data's July 17 story, "SSgA Files to Launch SPDR SnP Commercial Paper, First Cash ETF", and see IndexFunds' other new article, "Money Market ETFs In Europe".
IBD: "Parent Firms Bucking Up The Buck"
Investors' Business Daily writes "Parent Firms Bucking Up The Buck", which says about 17 advisors to date "bolstering" their money market funds, "So far the strategy has worked. No fund has broken the buck." IBD quotes Peter Crane, "Money market funds, though they've had painful bailouts, benefited from this.... High yield is good when it comes from certain things. Low expenses are good. A big, diversified (portfolio) is good. Also, a big asset base gives you protection." Also, see ignites.com's "Money Funds Act to Address Investor Concerns", which summarizes recent communications efforts by money funds. (The article was derived in part from Crane Data's "Money Funds Step Up Communications With Conference Calls E-mails").
GTNews "Guide to Money Market Funds"
European Treasury publication GTNews just posted a "Guide to Money Market Funds - Part I: The Current Landscape", which "considers the advantages of money market funds and key investment issues that corporate treasurers should keep at the forefront of their minds." BlackRock's Mark Rimmer compares bank deposits vs. money funds (in the U.K. and "offshore" market), discusses key steps for investing and lists key questions treasurers should ask their money fund providers.