In This Post I will talk about the Best Fidelity Money Market Funds in this article as they pertain to your specific needs regarding short term savings and cash management.
Fidelity creates a range of money market funds to suit the varying needs of investors with respect to safety, liquidity as well as tax efficiency.
No matter how conservative, or tax centered one is, there is a Fidelity fund to suit the investor’s strategy.
Key Points & Best Fidelity Money Market Funds In 2025 List
| Fund Name | Key Points |
|---|---|
| Fidelity Government Money Market Fund (SPAXX) | Invests in U.S. government securities; high liquidity and stability; often used as a core position in Fidelity accounts. |
| Fidelity Treasury Money Market Fund | Focuses exclusively on U.S. Treasury securities; very low credit risk; ideal for conservative investors. |
| Fidelity Prime Money Market Fund | Invests in a broad range of high-quality, short-term corporate and government securities; slightly higher yield potential. |
| Fidelity Tax-Free Money Market Fund | Offers income exempt from federal income tax; invests in municipal securities; good for tax-sensitive investors. |
| Fidelity California Municipal Money Market Fund | Provides tax-exempt income for California residents; invests in short-term municipal securities issued in California. |
| Fidelity New York Municipal Money Market Fund | Designed for New York residents; generates income exempt from federal and NY state income taxes. |
| Fidelity Arizona Municipal Money Market Fund | Offers Arizona tax-exempt income; focuses on high-quality municipal debt issued within the state. |
| Fidelity Connecticut Municipal Money Market Fund | Provides CT residents with federal and state tax-free income; invests in Connecticut municipal securities. |
| Fidelity Florida Municipal Money Market Fund | Aims to provide Florida residents with income free from federal income tax; no state tax makes it attractive. |
| Fidelity Virginia Municipal Money Market Fund | Targets Virginia investors; income is generally exempt from federal and VA state income taxes. |
10 Best Fidelity Money Market Funds In 2025
1.Fidelity Government Money Market Fund (SPAXX)
The Fidelity Government Money Market Fund (SPAXX) is considered one of the Fidelity money market funds ideal for cash liquidity and low relative risk because it primarily invests in U.S. government securities like Treasuries and government-backed repurchase agreements.
SPAXX tends to be a staple cash position for many Fidelity accounts because of its ready availability and safety.
Also, while yields might be lower than those in other riskier funds, it is best suited for short-term savings or a cash reserve owing to the certainty of the principal, daily liquidity, and pre-scheduled access to funds. SPAXX is perfect for conservative investors and those focusing on capital preservation.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Government Money Market Fund (SPAXX) |
| Fund Type | Government Money Market |
| Investment Focus | U.S. government securities and repurchase agreements |
| Objective | Capital preservation and liquidity |
| Risk Level | Low |
| Tax Status | Taxable income |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Conservative investors, core cash position, short-term savings |
| Expense Ratio | ~0.42% (subject to change; check current rate on Fidelity’s website) |
2.Fidelity Treasury Money Market Fund
One of Fidelity’s finest offerings in the money market category is the Fidelity Treasury Money Market Fund which stands out for its safety. This fund invests solely in U.S.
Treasury securities as well as repurchase agreements collateralized by Treasuries, making it one of the lowest risk options available.
It is best suited for conservative investors who value capital preservation and are willing to accept lower yields due to government backing.
The fund has daily liquidity and no exposure to corporate or municipal debt making it a good parking place for cash during times of uncertainty in the market or period of rising interest rates.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Treasury Money Market Fund |
| Fund Type | Treasury Money Market |
| Investment Focus | U.S. Treasury securities and Treasury-backed repurchase agreements |
| Objective | Maximum safety and liquidity |
| Risk Level | Very Low |
| Tax Status | Taxable income (state tax-exempt in some cases) |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Ultra-conservative investors, capital preservation, short-term savings |
| Expense Ratio | ~0.42% (subject to change; check Fidelity for current rate) |
3.Fidelity Prime Money Market Fund
The Fidelity Prime Money Market Fund has increased yield prospects when compared to government-only funds due to its diversified portfolio of high-quality short-term corporate and government securities.
It is a good investment option for those who want some risk while also trying to increase returns. Although, it has a little more risk than Treasury and government’s funds, it still maintains strict maturity and credit quality standards.
With daily liquidity and competitive yields, it is ideal for an investor who wants to keep cash without making a long-term investment. The fund serves as a balance for those who want to set aside funds while also wanting to gain higher returns.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Prime Money Market Fund |
| Fund Type | Prime Money Market |
| Investment Focus | High-quality corporate, U.S. government, and financial institution securities |
| Objective | Competitive yield with liquidity and principal stability |
| Risk Level | Low (slightly higher than government/treasury funds) |
| Tax Status | Taxable income |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Investors seeking higher yield with minimal added risk |
| Expense Ratio | ~0.42% (subject to change; verify on Fidelity’s site) |
4.Fidelity Tax-Free Money Market Fund
The Fidelity Tax-Free Money Market Fund serves as a viable option for those seeking uninterrupted income which is untouched by federal income taxes. This Money Market Fund invests in short-term, high-quality municipal securities which makes it appropriate for upper tax bracket investors who are very sensitive to taxes.
Even though the yield is lower than taxable funds, the tax benefits provided can improve returns. In addition, the money market fund offers daily liquidity, discourages risk in the investment strategies employed, maintains high credit standards, and adheres to a conservative investment strategy.
The fund is very helpful for capital preservation while appreciating tax expenses, thereby making it a easy to manage cash for self investors or those with short-term tax-efficient saving needs.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Tax-Free Money Market Fund |
| Fund Type | Municipal Money Market |
| Investment Focus | High-quality, short-term municipal securities |
| Objective | Generate income exempt from federal income tax |
| Risk Level | Low |
| Tax Status | Federal tax-exempt income |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Tax-sensitive investors, especially in higher tax brackets |
| Expense Ratio | ~0.42% (subject to change; confirm on Fidelity’s site) |
5.Fidelity California Municipal Money Market Fund
The Fidelity California Municipal Money Market Fund aims to provide income that is free of federal and California state income taxes for residents of California. The Fund purchases high-quality, short-term municipal securities issued in-the-state
Which makes California residents concerned about taxes even happier. This Fund also features liquidity on a daily basis, stability in principal amount, and has a conservative risk profile which makes it a dependable investment vehicle for borrowers needing cash in the short-term or for those needing tax-efficient savings.
While the yield is lower than what taxable funds offer, the tax-exempt status grants superior returns for higher tax brackets. This fund is an intelligent investment choice that is focused on and restricted to California residents.
| Feature | Details |
|---|---|
| Fund Name | Fidelity California Municipal Money Market Fund |
| Fund Type | State-Specific Municipal Money Market |
| Investment Focus | Short-term, high-quality municipal securities issued in California |
| Objective | Provide income exempt from federal and California state income taxes |
| Risk Level | Low |
| Tax Status | Generally exempt from federal and CA state income taxes |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | California residents seeking tax-free income and capital preservation |
| Expense Ratio | ~0.42% (subject to change; confirm on Fidelity’s website) |
6.Fidelity New York Municipal Money Market Fund
The Fidelity New York Municipal Money Market Fund is especially suited for residents of New York seeking to earn income that is tax-exempt.
This fund invests predominantly in short-term and high-quality municipal bonds and securities issued within New York State, the income from which is exempt from federal and New York state income taxes.
This fund is especially suitable for taxpayers in the upper income brackets who wish to preserve their capital while reaping greater returns on investment after tax has been deducted.
With a focus on security and providing daily liquidity, the fund is an excellent choice for managing cash, or building a reserve that is tax-efficient, and is reliable for almost any withdrawal scenario.
The fund would suit conservative investors who wish to protect their assets while still reaping the benefits of tax-efficient investing.
| Feature | Details |
|---|---|
| Fund Name | Fidelity New York Municipal Money Market Fund |
| Fund Type | State-Specific Municipal Money Market |
| Investment Focus | High-quality, short-term municipal securities issued in New York |
| Objective | Provide income exempt from federal and New York state income taxes |
| Risk Level | Low |
| Tax Status | Generally exempt from federal and NY state income taxes |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | New York residents seeking stable, tax-free income |
| Expense Ratio | ~0.42% (subject to change; confirm on Fidelity’s website) |
7.Fidelity Arizona Municipal Money Market Fund
The Fidelity Arizona Municipal Money Market Fund is an excellent selection for investors based in Arizona and looking to earn interest income that is exempt from taxes.
The fund’s investment objective is to create favorable income through exemption from federal and state income taxes by investing in quality short-term municipal securities issued within Arizona.
It works well to borrowers in higher tax brackets that seek to maintain capital while earning interest that is not subjected to taxes.
This fund is appropriate for those seeking a relatively higher level of safety combined with daily liquidity, conservative credit policies, and low volatility. The fund is ideal for those seeking a reliable way to manage cash, tax efficiency, or build an emergency fund within Arizona.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Arizona Municipal Money Market Fund |
| Fund Type | State-Specific Municipal Money Market |
| Investment Focus | Short-term, high-quality municipal securities issued in Arizona |
| Objective | Generate income exempt from federal and Arizona state income taxes |
| Risk Level | Low |
| Tax Status | Generally exempt from federal and AZ state income taxes |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Arizona residents seeking tax-free income and capital preservation |
| Expense Ratio | ~0.42% (subject to change; confirm on Fidelity’s website) |
8.Fidelity Connecticut Municipal Money Market Fund
Fidelity’s Money Market Fund of Connecticut is intended for investors who live in Connecticut and want to receive tax free earnings while protecting their capital.
The Fund invests primarily in-state municipal short-term bonds or obligations which are paying interest exempt from US and Connecticut State income taxes.
Because of its focus on protecting principal, enhancing liquidity, and minimizing exposure to interest rate fluctuations, this fund is best suited for investors looking to satisfy cash flow requirements over the short term or those wanting a low taxed account, fund, or cash position.
This Fund applies conservative management policies, along with additional benefits of local taxation, thus resulting in low risk investment.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Connecticut Municipal Money Market Fund |
| Fund Type | State-Specific Municipal Money Market |
| Investment Focus | High-quality, short-term municipal securities issued in Connecticut |
| Objective | Provide income exempt from federal and Connecticut state income taxes |
| Risk Level | Low |
| Tax Status | Generally exempt from federal and CT state income taxes |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Connecticut residents seeking stable, tax-free income |
| Expense Ratio | ~0.42% (subject to change; verify on Fidelity’s website) |
9.Fidelity Florida Municipal Money Market Fund
Fidelity manages The Fidelity Florida Municipal Money Market Fund, a superb option for tax exempt income and capital preservation for Florida residents. It invests in high-grade, short-term municipal securities, which pay income that is mostly free from federal income tax.
Because Florida has no state income tax, this fund is an extremely tax-efficient option for conservative investors.
It has daily liquidity, strong credit standards, low risk, making it appropriate for short-term savings or cash reserves.
Earned interest is protected and tax-advantaged, which makes this fund perfect for Florida investors who prioritize tax efficiency and financial safety.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Florida Municipal Money Market Fund |
| Fund Type | State-Specific Municipal Money Market |
| Investment Focus | High-quality, short-term municipal securities issued in Florida |
| Objective | Provide income exempt from federal income tax |
| Risk Level | Low |
| Tax Status | Generally exempt from federal tax (no FL state income tax) |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Florida residents seeking tax-free income and capital preservation |
| Expense Ratio | ~0.42% (subject to change; confirm on Fidelity’s website) |
10.Fidelity Virginia Municipal Money Market Fund
The Fidelity Virginia Municipal Money Market Fund serves as a perfect choice for residents in the state of Virginia who want to seek tax exempt income while safeguarding wealth.
Investing with the fund allows them to receive income that is typically exempt from federal taxes as well as state of Virginia taxes since the fund invests in short term high quality municipal securities.
It’s also notable for people in the higher tax brackets who want to maximize their returns, thus making it more beneficial for the region.
The fund is a good and easy to manage place to hold cash in the short term since it comes with great credit quality, low risk investment strategies, and daily access.
With all the features of the fund, it becomes easy to build a tax efficient reserve while also retaining the benefits of a money market fund.
| Feature | Details |
|---|---|
| Fund Name | Fidelity Virginia Municipal Money Market Fund |
| Fund Type | State-Specific Municipal Money Market |
| Investment Focus | High-quality, short-term municipal securities issued in Virginia |
| Objective | Provide income exempt from federal and Virginia state income taxes |
| Risk Level | Low |
| Tax Status | Generally exempt from federal and VA state income taxes |
| Liquidity | Daily access to funds |
| Minimum Investment | None (for most Fidelity brokerage accounts) |
| Ideal For | Virginia residents seeking stable, tax-free income |
| Expense Ratio | ~0.42% (subject to change; verify on Fidelity’s website) |
Conclusion
To summarize, Fidelity provides an extensive selection of premier money market funds, from government and treasury funds for conservative investors to tax-free and state-specific funds for optimized taxation.
Whatever your goals—be it defense, liquidity, or tax-free earning—these funds stand out as dependable cash management tools mitigated by risk, ideal for income-driven investors; and offer ease of access and balance for conservative investors.
