Alternative to FTEXX for Fidelity Brokerage Account

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ControllingFinances
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Joined: Fri Apr 11, 2008 12:21 pm

Alternative to FTEXX for Fidelity Brokerage Account

Post by ControllingFinances » Mon Nov 24, 2008 12:36 pm

Hi,

I know I can't change my core account for my Fidelity Brokerage Account (or can I?). Right now my core account is FTEXX which is earning a blazing 0.76% yield :wink:

What Fidelity Money Market Funds can I put my cash in to earn a higher yield - and if I need to make a trade, I can just transfer from that fund to FTEXX?

Thanks.

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DaveTH
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Post by DaveTH » Mon Nov 24, 2008 12:41 pm

Fidelity Select Money Market (FSLXX) is generally a good choice. It is currently yielding 2.51%.

Indicing
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Post by Indicing » Mon Nov 24, 2008 1:05 pm

But I'm not sure that FSLXX is available for the Core. For the moment, my only choices for Core are FCASH, Muni MM, and AMT-Free MM. Of course, I buy FSLXX and keep 0 balance in the Core.

A new relevant question: I changed my Core from FCASH to Muni MM. But I realized that Muni MM requires $2000 to avoid small-balance fee normally. So am I going to be charged this fee if I only keep a few $100 in the Core?

Thanks!

ControllingFinances
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Joined: Fri Apr 11, 2008 12:21 pm

Post by ControllingFinances » Mon Nov 24, 2008 1:27 pm

Indicing wrote:But I'm not sure that FSLXX is available for the Core. For the moment, my only choices for Core are FCASH, Muni MM, and AMT-Free MM. Of course, I buy FSLXX and keep 0 balance in the Core.

A new relevant question: I changed my Core from FCASH to Muni MM. But I realized that Muni MM requires $2000 to avoid small-balance fee normally. So am I going to be charged this fee if I only keep a few $100 in the Core?

Thanks!
I chatted with a Fidelity customer service rep. Core accounts are exempt from the fees. But you can contact them to doubly verify.

foglifter
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Post by foglifter » Tue Nov 25, 2008 2:52 am

Yes, you can change the core MMF, just call Fido and they'll do that with one click. I did that a few times.

Unfortunately FSLXX, the best low-minimum MMF with a low ER, is not eligible for core account. AFAIK you can use FTEXX, FMOXX or FCFXX (for California).

In IRA the only option for the core is FDRXX.

TxInjun
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Joined: Fri May 29, 2015 12:05 pm

Re: Alternative to FTEXX for Fidelity Brokerage Account

Post by TxInjun » Wed Feb 08, 2017 2:21 pm

Hello,

I'm looking for places to park my cash positions at Fidelity. Currently my core position is in FCASH. The alternatives I see for my Core Position are SPAXX (Fid Gov't MMF @ 0.2% yield) and FZFXX (Fid Treasury MMF @ 0.15% yield).

Both seem weaker alternatives to FTEXX (Fid Muni MMF @ 0.37% nominal yield, effective yield higher due to tax-exempt) or FCFXX (Fid CA Muni MMF @0.26% nominal - I'm a CA resident): so I'm tempted to empty my FCASH position and buy FTEXX since the yield is meaningfully higher and would be a win against the CA MMF. My question is, am I thinking about this correctly?

Second question, this thread talks about FSLXX but I can't seem to find that fund on Fidelity's page. What am I missing? I can see the fund on Google Finance etc., and my balance at Fidelity Brokerage should get me over any thresholds.

Thanks,

TxInjun

Pocanutin
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Re: Alternative to FTEXX for Fidelity Brokerage Account

Post by Pocanutin » Wed Feb 08, 2017 2:27 pm

this post is about nine years old.

TxInjun
Posts: 71
Joined: Fri May 29, 2015 12:05 pm

Re: Alternative to FTEXX for Fidelity Brokerage Account

Post by TxInjun » Wed Feb 08, 2017 2:31 pm

Pocanutin wrote:this post is about nine years old.
Yes, the thread is 9 years old, but my post is just 15 minutes old :happy . Since this thread talked about the same funds, I was re-using it instead of starting a new thread.

I'm still interested in any collective wisdom to my questions - thanks.

Pocanutin
Posts: 79
Joined: Mon Aug 16, 2010 10:08 am

Re: Alternative to FTEXX for Fidelity Brokerage Account

Post by Pocanutin » Wed Feb 08, 2017 4:35 pm

you are correct...I should have said the op was 9 years old... I posted because I thought you might not have seen the date which happens occasionally.
Best,
P

bawr
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Re: Alternative to FTEXX for Fidelity Brokerage Account

Post by bawr » Sat Feb 11, 2017 3:08 am

TxInjun wrote:Second question, this thread talks about FSLXX but I can't seem to find that fund on Fidelity's page. What am I missing? I can see the fund on Google Finance etc., and my balance at Fidelity Brokerage should get me over any thresholds.
I believe FSLXX was eliminated as a consequence of the new regulations affecting money market funds. The following seem to be similar retail funds available from Fidelity:

SPRXX Fidelity Money Market Fund 7-Day Yield: 0.69% Min. initial investment: $2,500
FZDXX Fidelity Money Market Fund Premium Class 7-Day Yield: 0.81% Min. initial investment: $100,000

TxInjun
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Joined: Fri May 29, 2015 12:05 pm

Re: Alternative to FTEXX for Fidelity Brokerage Account

Post by TxInjun » Mon Feb 13, 2017 2:00 pm

bawr wrote: I believe FSLXX was eliminated as a consequence of the new regulations affecting money market funds. The following seem to be similar retail funds available from Fidelity:

SPRXX Fidelity Money Market Fund 7-Day Yield: 0.69% Min. initial investment: $2,500
FZDXX Fidelity Money Market Fund Premium Class 7-Day Yield: 0.81% Min. initial investment: $100,000
Thanks @bawr, that's very helpful

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