Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of March 30, 2023 )
Institutional Money Funds 7-Day Yield%
JPMorgan Prime MM Capital (CJPXX) 4.98
Western Asset Prem Inst Liq Res Cap (WAAXX) 4.97
DWS ESG Liquidity Inst (ESGXX) 4.93
State Street Inst Liq Reserve Prem (SSIXX) 4.88
Allspring Heritage Select (WFJXX) 4.88
Retail Money Funds 7-Day Yield%
JPMorgan Liquid Assets Cap (CJLXX) 4.92
Morgan Stanley IL ESG MMP W (MWMXX) 4.88
Allspring MMF Prm (WMPXX) 4.84
UBS Prime Preferred Fund (UPPXX) 4.83
Schwab Value Adv MF Ultra (SNAXX) 4.79
Tax Exempt Money Funds 7-Day Yield%
Allspring Muni Cash Mgmt MM Inst (EMMXX) 4.11
Federated Hermes Muni Obligs WS (MOFXX) 4.09
Western Asset Sel Tax Free Res Sel (CIFXX) 4.05
Vanguard Municipal MMF (VMSXX) 4.04
UBS Tax-Free Preferred (SFPXX) 4.01

Money Market News


The Investment Company Institute released its latest "Money Market Fund Assets" report, as well as its monthly "Trends in Mutual Fund Investing" and "Month-End Portfolio Holdings of Taxable Money Funds" for February 2023 on Thursday. Both asset series show money fund totals hitting record levels, with the new weekly statistics putting ICI's MMF totals at just under $5.2 trillion, after breaking the $5.1 trillion barrier for the first time ever the week prior. The previous 2 weeks were the 5th and 6th largest weekly increases ever and the largest in history if you exclude 4 coronavirus lockdown panic weeks in March and April 2020. The failure of Silicon Valley Bank has raised concerns over uninsured bank deposits, and large investors are fleeing into money funds. Over the past 52 weeks, money fund assets have risen $608 billion, or 13.2%, with Retail MMFs rising by $436 billion (30.4%) and Inst MMFs rising by $171 billion (5.4%). ICI shows assets up by $463 billion, or 9.8%, year-to-date in 2023, with Institutional MMFs up $267 billion, or 8.7% and Retail MMFs up $196 billion, or 11.7%. (According to Crane Data's separate Money Fund Intelligence Daily series, money fund assets hit a record on Wednesday but `declined by $14.0 billion on Thursday. Note that ICI's asset totals don't include a number of funds tracked by the SEC and Crane Data, so they're over $400 billion lower than Crane's asset series.)


Inside Money Fund Intelligence

MFI PDF March 2023 Issue

Largest Money Fund Managers

MFI pdf icon

The March 2023 issue of Money Fund Intelligence features: "Treasury MMFs Brace for Debt Ceiling Faceoff, Supply Shock," which reviews the risk to Treasury funds; "BlackRock's Matt Clay on European MMF Landscape," which quotes from a recent ICD webinar; and, "Federated 10-K Sheds Light on Regulatory Environment," which excerpts from Federated Hermes' annual report.

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 Feb. 28, 2023. (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.


more »

Mar 30
Souza Joins Capital Advisors Group

Eric Souza has joined Capital Advisors Group as a Senior PM. He was formerly at SVB Asset Management. (See the LinkedIn post here.)

Envelope icon

Mar 09
Peter Yi No Longer at Northern Trust

Peter Yi, a pioneer of cash segmentation, is no longer with Northern Trust Asset Management.

Envelope icon

Feb 12
Morin Forms MM Cash; Green Not AB

Michael Morin, formerly at Fidelity, has formed MM Cash Consulting, and Zachary Green is no longer with AB (Alliance Bernstein).

Envelope icon

Crane Data News & Features

contact us »

Money Fund Symposium, June 21-23, Atlanta

Get ready for our big show, Money Fund Symposium, which will take place June 21-23, 2023, in Atlanta, Ga.! Mark your calendars too for our European Money Fund Symposium, scheduled for Sept. 25-26, 2023 in Edinburgh, Scotland, and our Money Fund University, scheduled for Dec. 18-19, 2023, in Jersey City, NJ. Finally, thanks to those who attended our recent Bond Fund Symposium in Boston, Mass.! For those interested, next year's ultra-short bond fund event will be March 25-26, 2024 in Philadelphia. Note that conference recordings and materials (excluding our European event) are available to conference attendees and Crane Data subscribers at the bottom of our "Content" page. Watch for more details in coming months, and let us know if you'd like more information on any of our shows. We hope to see you in Atlanta in June!