Highest-Yielding Money Market Funds ranked by 7-Day yield ( as of Dec. 2, 2023 )
Institutional Money Funds 7-Day Yield%
State Street Inst Liq Reserve Prem (SSIXX) 5.49
UBS Select Prime Money Mkt Pref (SPPXX) 5.49
Western Asset Prem Inst Liq Res Cap (WAAXX) 5.49
Allspring Heritage Select (WFJXX) 5.48
Morgan Stanley Inst Liq Prime MMP Inst (MPFXX) 5.48
Retail Money Funds 7-Day Yield%
Allspring MMF Prm (WMPXX) 5.51
UBS Prime Preferred Fund (UPPXX) 5.48
Morgan Stanley IL ESG MMP W (MWMXX) 5.47
Invesco Premier Investor (IMRXX) 5.45
Federated Hermes Prime Cash Oblig WS (PCOXX) 5.42
Tax Exempt Money Funds 7-Day Yield%
Federated Hermes Muni Obligs WS (MOFXX) 3.69
Allspring Nat T-F Prem (WFNXX) 3.53
Dreyfus Tax-Exempt Cash Mgmt In (DEIXX) 3.48
Vanguard Municipal MMF (VMSXX) 3.47
Fidelity Inv MM: Tax Exempt I (FTCXX) 3.40

Money Market News


Money market fund assets jumping by $1.0 trillion-plus to a record $6.2 trillion was no doubt the biggest story of the year in 2023. With still almost a month to go, money fund asset growth will likely even surpass 2020's Covid-driven record jump of $1.1 trillion. Last year, rising yields were the big news, and yields continuing to rise and breaking 5% were also big news. Other major stories of the past year included: the long-awaited passage of the SEC's Money Fund Reform Proposal, the continued growth of Social MMFs and the increase in yields in European and worldwide markets. Below, we excerpt from a number of our biggest and most representative news stories of 2023 to remind readers and to highlight the major trends of the past year. (Note: As a reminder, register ASAP for our Money Fund University, Dec. 18-19 in Jersey City, New Jersey, at the Westin Jersey City Newport. Clients and friends are also welcome to stop by Crane Data's Holiday Cocktail Party at MFU on 12/18 from 5-7:30pm!)


Inside Money Fund Intelligence

MFI PDF November 2023 Issue

Largest Money Fund Managers

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The November 2023 issue of Money Fund Intelligence features: "D&I Share Classes All the Rage While ESG MMFs Liquidate," which reviews the “Social” money fund space; "Portal News: Morgan Stanley Moves to BNY; ICD Upgrades," which covers recent MMF trading platform changes; and, "Fund Companies Prep for Liquidity Fees Via Filings," which reviews the changing in disclosures for funds in preparation for new regulations.

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.

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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 Oct. 31, 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.


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Nov 29
In Memoriam: Kevin McBunch

We were shocked and saddened to hear that money market veteran and legend Kevin McBunch passed away recently. (See the Obituary here.) Our deepest condolences to his family and friends and to his team at Wells Fargo and former colleagues at Bank of America.

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Oct 26
Fleming, Owen Depart Credit Suisse

Kevin Fleming and Sam Owen are no longer with Credit Suisse Securities.

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Oct 16
Vanguard Shuffles Muni MMF Managers

A Prospectus filing for the Vanguard Funds tells us, "Effective immediately, Vanguard is making changes to the portfolio managers of each Fund listed in the table below as a result of an internal realignment of the municipal bond team." It says that John Grimes joins John Carbone as a Portfolio Manager for Vanguard California Municipal Money Market Fund, John Grimes joins Justin Schwartz as a Portfolio Manager for Vanguard Municipal Money Market Fund and John Carbone joins John Grimes as a Portfolio Manager for Vanguard New York Municipal Money Market Fund.

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Crane Data News & Features

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Money Fund University, Dec. 18-19 in NJ

Thank you to those who attended our European Money Fund Symposium in Edinburgh! Mark your calendars for our next European MFS show in London, Sept. 19-20, 2024. We're now making plans for our upcoming "basic training" event, Money Fund University, scheduled for Dec. 18-19, 2023, in Jersey City, NJ, and our next Bond Fund Symposium, March 25-26, 2024 in Philadelphia, Pa. Mark your calendars too for next year’s big show, Money Fund Symposium, which will be held June 12-14, 2024, in Pittsburgh. Contact us if you’d like to see the materials for our European event. (They’re not posted on our website.) Other conference recordings and materials are available at the bottom of our "Content" page. Watch for more details on upcoming shows in coming months, and let us know if you'd like more information on any of our shows. We hope to see you in Jersey City in December, in Philadelphia in March, in Pittsburgh in June or in London next year!