FDLXX vs SPAXX
Fidelity Treasury Only Money Market Fund vs Fidelity Government Money Market Fund
Which is better, FDLXX or SPAXX?
FDLXX and SPAXX are close on what we can measure.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FDLXX | SPAXX |
|---|---|---|
| Expense Ratio | 0.42%Tie | 0.42%Tie |
| AUM | $13.1B | $423.8B |
| Dividend Yield | 3.13% | 3.15% |
| Holdings | 57 | 700 |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) |
| Category | Money Market | Money Market |
| Inception | Jan 5, 1988 | Feb 5, 1990 |
FDLXX and SPAXX hold their share price at $1.00 and pay everything out, so a YTD Return, a 1Y, 3Y or 5Y Return, a Volatility and a Max Drawdown measured on that price would every one of them be zero, and none of them would mean anything. Those rows are left out. What separates two funds like these is the Dividend Yield and the Expense Ratio, both above.
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 3.13% against 3.15% for SPAXX.
Holdings Overlap
We hold position weights for 10 holdings in FDLXX and 34 in SPAXX, totalling 12.1% and 6.1% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 5 positions appear in both.
5 positions in common, counted across the 10 positions we hold weights for in FDLXX and 34 in SPAXX, against full books of 57 and 700.
Top Shared Holdings
| Stock | Weight in FDLXX | Weight in SPAXX | Difference |
|---|---|---|---|
| B 0 08/06/26United States Treasury 0.00 08/06/2026 | 3.36% | 0.49% | 2.87% |
| T 0.75 08/31/26Government Of The United States Of America 0.75% 31-Aug-2026 | 0.66% | 0.25% | 0.41% |
| T 4.25 12/31/26Treasury Note (Otr) 4.25% Dec 31, 2026 | 0.05% | 0.26% | 0.21% |
| T 4.25 11/30/26U.S. Treasury Note, 4.25%, Due 11/30/2026 | 0.09% | 0.11% | 0.02% |
| T 3.5 09/30/26United States Treasury Note/Bond - When Issued 3.5% 30Sep2026 | 0.07% | 0.07% | 0.00% |
You are not choosing between two funds in isolation.
Whichever of FDLXX and SPAXX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FDLXX or SPAXX?
FDLXX has an expense ratio of 0.42% while SPAXX charges 0.42%. At the precision these are quoted to, they cost the same.
Which pays a higher dividend, FDLXX or SPAXX?
FDLXX yields 3.13% while SPAXX yields 3.15%, so SPAXX currently pays the higher dividend yield.
Is SPAXX better than FDLXX?
FDLXX and SPAXX are close on every measure we can compare. Which one suits a particular account depends on what it is for. This is information, not a recommendation.