FDLXX vs SPAXX
Fidelity Treasury Only Money Market Fund vs Fidelity Government Money Market Fund
Quick Verdict
SPAXX offers more diversification with 700 holdings.
Side-by-Side Comparison
| Metric | FDLXX | SPAXX | Winner |
|---|---|---|---|
| Expense Ratio | 0.42% | 0.42% | |
| AUM | $13.1B | $423.8B | |
| Dividend Yield | 3.16% | 3.18% | |
| Holdings | 57 | 700 | |
| YTD Return | +0.00% | +0.00% | |
| 1Y Return | - | - | |
| 3Y Return (annualized) | - | - | |
| 5Y Return (annualized) | - | - | |
| Volatility (annualized) | - | - | |
| Max Drawdown | 0.0% | 0.0% | |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) | |
| Category | Money Market | Money Market | |
| Inception | Jan 5, 1988 | Feb 5, 1990 |
FDLXX vs SPAXX Performance
Fidelity Treasury Only Money Market Fund (FDLXX) is a mutual fund from Fidelity Investments (US) and Fidelity Government Money Market Fund (SPAXX) is a mutual fund from Fidelity Investments (US). Year to date, FDLXX is up 0.00% versus a gain of 0.00% for SPAXX.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was 0.0% for FDLXX and 0.0% for SPAXX. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
FDLXX charges 0.42% per year while SPAXX charges 0.42%. On a $10,000 position that is $42 vs $42 annually. On income, FDLXX currently yields 3.16% against 3.18% for SPAXX.
Holdings Overlap
FDLXX and SPAXX share 8 holdings out of 46 unique holdings combined, representing a 2.7% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FDLXX | Weight in SPAXX | Difference |
|---|---|---|---|
| B 0 07/09/26 | 3.91% | 1.37% | 2.54% |
| B 0 08/06/26 | 3.20% | 0.50% | 2.70% |
| TII 0.125 07/15/26 | 1.08% | 0.41% | 0.67% |
| T 0.75 08/31/26 | Pro | Pro | Pro |
| T 4.25 12/31/26 | Pro | Pro | Pro |
| T 4.25 11/30/26 | Pro | Pro | Pro |
| T 3.5 09/30/26 | Pro | Pro | Pro |
| T 4.5 07/15/26 | Pro | Pro | Pro |
Frequently Asked Questions
Which is cheaper, FDLXX or SPAXX?
FDLXX has an expense ratio of 0.42% while SPAXX charges 0.42%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
What is the holdings overlap between FDLXX and SPAXX?
FDLXX and SPAXX share 8 common holdings with a 2.7% weight overlap. Combined, they hold 46 unique securities.
Which pays a higher dividend, FDLXX or SPAXX?
FDLXX yields 3.16% while SPAXX yields 3.18%, so SPAXX currently pays the higher dividend yield.
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