FZFXX vs SPAXX
Fidelity Treasury Money Market Fund vs Fidelity Government Money Market Fund
Quick Verdict
SPAXX offers more diversification with 700 holdings.
Side-by-Side Comparison
| Metric | FZFXX | SPAXX | Winner |
|---|---|---|---|
| Expense Ratio | 0.42% | 0.42% | |
| AUM | $41.6B | $423.8B | |
| Dividend Yield | 3.17% | 3.18% | |
| Holdings | 170 | 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 | Apr 6, 2015 | Feb 5, 1990 |
FZFXX vs SPAXX Performance
Fidelity Treasury Money Market Fund (FZFXX) 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, FZFXX 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 FZFXX 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
FZFXX charges 0.42% per year while SPAXX charges 0.42%. On a $10,000 position that is $42 vs $42 annually. On income, FZFXX currently yields 3.17% against 3.18% for SPAXX.
Holdings Overlap
FZFXX and SPAXX share 21 holdings out of 67 unique holdings combined, representing a 3.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in FZFXX | Weight in SPAXX | Difference |
|---|---|---|---|
| B 0 07/09/26 | 0.94% | 1.37% | 0.43% |
| T 4.125 01/31/27 | 0.56% | 0.34% | 0.22% |
| T 3.75 08/31/26 | 0.43% | 0.43% | 0.00% |
| T 4.125 10/31/26 | Pro | Pro | Pro |
| B 0 08/06/26 | Pro | Pro | Pro |
| T 4.375 07/31/26 | Pro | Pro | Pro |
| T 4.125 02/28/27 | Pro | Pro | Pro |
| T 0.625 07/31/26 | Pro | Pro | Pro |
| T 1.875 02/28/27 | Pro | Pro | Pro |
| T 4.25 12/31/26 | Pro | Pro | Pro |
Frequently Asked Questions
Which is cheaper, FZFXX or SPAXX?
FZFXX 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 FZFXX and SPAXX?
FZFXX and SPAXX share 21 common holdings with a 3.9% weight overlap. Combined, they hold 67 unique securities.
Which pays a higher dividend, FZFXX or SPAXX?
FZFXX yields 3.17% while SPAXX yields 3.18%, so SPAXX currently pays the higher dividend yield.
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