![]() ![]() The details below about what investment products are contained in each vehicle are still valid so I would encourage you to still read through those so that you fully understand what you're choosing. I have updated these numbers below as well. ![]() We're essentially concerned with yield and fees (and subsequent yield net of fees), so the choice basically comes down to a higher yield with something like SPAXX, FDRXX, or FZFXX (3.68% in January 2023) or FDIC insurance but a lower yield with the FDIC-Insured Deposit Sweep Program (yield of 2.19%). Since then, interest rates have risen rapidly and drastically so now there's a bit more to talk about. Update January 2023: When I originally wrote this post in mid-2022, all these choices were paying the same thing which was basically zero, so a comparison was pretty meaningless. Is there a best option? I compare them here. If you've got a Fidelity investment account, you've probably encountered several options for your “core position” for cash: SPAXX, FDIC, FCASH, FDRXX, and/or FZFXX.
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