Best money market fund on Merrill Edge for Bank of America Preferred Rewards

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gobsmacked
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Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by gobsmacked »

I am using Bank of America and want to stay in the highest rewards tier possible with fairly low risk to capital. I think the minimums are 100k to get to one of the higher rewards tiers and Merrill Edge counts as part of it. What money market fund would be the fairly low risk? I was looking at FIGXX.

I was looking for something equivalent to VMFXX but I don't think can buy it at Merrill Edge. Could be wrong since markets are closed but it doesn't look like I can put in a trade ticket for that ticker symbol right now.
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anon_investor
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by anon_investor »

gobsmacked wrote: Sun Nov 20, 2022 11:47 am I am using Bank of America and want to stay in the highest rewards tier possible with fairly low risk to capital. I think the minimums are 100k to get to one of the higher rewards tiers and Merrill Edge counts as part of it. What money market fund would be the fairly low risk? I was looking at FIGXX.

I was looking for something equivalent to VMFXX but I don't think can buy it at Merrill Edge. Could be wrong since markets are closed but it doesn't look like I can put in a trade ticket for that ticker symbol right now.
TTTXX. Blackrock money market fund that invests only in US treasuries.
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dual
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by dual »


What money market fund would be the fairly low risk? I was looking at FIGXX.
Are you assuming that you have to use cash in a money market fund as your investment?

That is not correct. It is far better for you to transfer stock in the form of an ETF.

If you cannot do that, I suggest investing in Treasury bills. Merrill chargee a fee, $25 iirc, to buy at auction but you’ll get much more than in interest compared to a money market fund
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anon_investor
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by anon_investor »

dual wrote: Sun Nov 20, 2022 12:49 pm

What money market fund would be the fairly low risk? I was looking at FIGXX.
Are you assuming that you have to use cash in a money market fund as your investment?

That is not correct. It is far better for you to transfer stock in the form of an ETF.

If you cannot do that, I suggest investing in Treasury bills. Merrill chargee a fee, $25 iirc, to buy at auction but you’ll get much more than in interest compared to a money market fund
ME offers institutional class money market funds. Their treasury only options are not far behind 4 week treasury bills.
student
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

dual wrote: Sun Nov 20, 2022 12:49 pm

What money market fund would be the fairly low risk? I was looking at FIGXX.
Are you assuming that you have to use cash in a money market fund as your investment?

That is not correct. It is far better for you to transfer stock in the form of an ETF.

If you cannot do that, I suggest investing in Treasury bills. Merrill chargee a fee, $25 iirc, to buy at auction but you’ll get much more than in interest compared to a money market fund
I don't think Merrill Edge charges a fee to buy treasuries. https://www.merrilledge.com/pricing
headedwest
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by headedwest »

I think the fee on treasuries applies if you buy them by phone.
texasfight
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by texasfight »

You can buy the ETF SGOV

It has a low ER and has exactly matched VMFXX 1 yr return
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by drk »

student wrote: Sun Nov 20, 2022 12:55 pm I don't think Merrill Edge charges a fee to buy treasuries. https://www.merrilledge.com/pricing
It's not possible to participate in Treasury auctions using Merrill's online platform, though, hence the fee dual noted.
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dual
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by dual »

drk wrote: Sun Nov 20, 2022 1:21 pm
student wrote: Sun Nov 20, 2022 12:55 pm I don't think Merrill Edge charges a fee to buy treasuries. https://www.merrilledge.com/pricing
It's not possible to participate in Treasury auctions using Merrill's online platform, though, hence the fee dual noted.
That is my experience and that’s why I wrote what I did. I have tried to buy tbills at auction and the online platform does not allow it so you have to use a broker assisted purchase for which they charge a fee.

As to using the money market fund, the one year T-bill rate is 4.69% and the six-month rate is 4.61%. Both of those rates are state income tax free. What is the rate on the money market funds? I will be interested to compare the rates even with a fee to buy the tbills.
Last edited by dual on Sun Nov 20, 2022 1:30 pm, edited 1 time in total.
student
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

drk wrote: Sun Nov 20, 2022 1:21 pm
student wrote: Sun Nov 20, 2022 12:55 pm I don't think Merrill Edge charges a fee to buy treasuries. https://www.merrilledge.com/pricing
It's not possible to participate in Treasury auctions using Merrill's online platform, though, hence the fee dual noted.
Are you saying the info on the website is incorrect? It says "Treasuries, including Auction and Secondary" has $0 fee for online trade, and $29.95 for broker-assisted trade. What am I missing?
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dual
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by dual »

student wrote: Sun Nov 20, 2022 1:29 pm
drk wrote: Sun Nov 20, 2022 1:21 pm
student wrote: Sun Nov 20, 2022 12:55 pm I don't think Merrill Edge charges a fee to buy treasuries. https://www.merrilledge.com/pricing
It's not possible to participate in Treasury auctions using Merrill's online platform, though, hence the fee dual noted.
Are you saying the info on the website is incorrect? It says "Treasuries, including Auction and Secondary" has $0 fee for online trade, and $29.95 for broker-assisted trade. What am I missing?
Have you tried to place an order to buy you the bill at auction? I have not tried for about a year so it might’ve changed but I was unable to do it then.
student
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

dual wrote: Sun Nov 20, 2022 1:32 pm
student wrote: Sun Nov 20, 2022 1:29 pm
drk wrote: Sun Nov 20, 2022 1:21 pm
student wrote: Sun Nov 20, 2022 12:55 pm I don't think Merrill Edge charges a fee to buy treasuries. https://www.merrilledge.com/pricing
It's not possible to participate in Treasury auctions using Merrill's online platform, though, hence the fee dual noted.
Are you saying the info on the website is incorrect? It says "Treasuries, including Auction and Secondary" has $0 fee for online trade, and $29.95 for broker-assisted trade. What am I missing?
Have you tried to place an order to buy you the bill at auction? I have not tried for about a year so it might’ve changed but I was unable to do it then.
No. I have not so I have no personal experience. I only looked at the website.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by drk »

student wrote: Sun Nov 20, 2022 1:29 pm Are you saying the info on the website is incorrect? It says "Treasuries, including Auction and Secondary" has $0 fee for online trade, and $29.95 for broker-assisted trade. What am I missing?
The information is presumably correct, but irrelevant. The fact is that they don't offer Treasury auctions online.
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anon_investor
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by anon_investor »

OP here is the list of NTF money market funds at Merrill Edge:
https://olui2.fs.ml.com/publish/content ... esheet.pdf

Merrill Edge updates this PDF every business day.
student
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

drk wrote: Sun Nov 20, 2022 1:41 pm
student wrote: Sun Nov 20, 2022 1:29 pm Are you saying the info on the website is incorrect? It says "Treasuries, including Auction and Secondary" has $0 fee for online trade, and $29.95 for broker-assisted trade. What am I missing?
The information is presumably correct, but irrelevant. The fact is that they don't offer Treasury auctions online.
How is it presumably correct but irrelevant? It says "Treasuries, including Auction and Secondary" has $0 fee under online trade. This means auction is $0 if one does it online. How do you interpret the information presented on the website? I am not arguing whether ME offer Treasury auctions online in reality. I am stating that according to the table, one can trade "Treasuries, including Auction and Secondary" with $0 fee. There are only three possibilities.

1) ME offers Treasury auctions online with $0 fee.
2) ME does not offer Treasury auctions online with $0 fee, and the table is wrong.
3) ME does not offer Treasury auctions online with $0 fee, and I read the table incorrectly.

Which one are you claiming, if you claiming 3), where is my mistake?
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by drk »

student wrote: Sun Nov 20, 2022 2:15 pm How is it presumably correct but irrelevant? It says "Treasuries, including Auction and Secondary" has $0 fee under online trade. This means auction is $0 if one does it online. How do you interpret the information presented on the website? I am not arguing whether ME offer Treasury auctions online in reality. I am stating that according to the table, one can trade "Treasuries, including Auction and Secondary" with $0 fee. There are only three possibilities.

1) ME offers Treasury auctions online with $0 fee.
2) ME does not offer Treasury auctions online with $0 fee, and the table is wrong.
3) ME does not offer Treasury auctions online with $0 fee, and I read the table incorrectly.

Which one are you claiming, if you claiming 3), where is my mistake?
You've spent more time and effort on this than Merrill's marketing team. Congratulations. :beer

My comment was a logic joke: they can truthfully claim to charge $0 fees for online Treasury auctions because they don't allow you to make online Treasury auction orders. For all items in the empty set, they charge $0 fees. True, but irrelevant.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by dual »


3) ME does not offer Treasury auctions online with $0 fee, and I read the table incorrectly
My experience, and that of drk also I think, is that Merrill Edge does not offer treasury securities at auctions online. That is why the fee is irrelevant.

Do you have an account there? You can settle any questions by showing us how to place an online treasury auction order.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

drk wrote: Sun Nov 20, 2022 2:19 pm
student wrote: Sun Nov 20, 2022 2:15 pm How is it presumably correct but irrelevant? It says "Treasuries, including Auction and Secondary" has $0 fee under online trade. This means auction is $0 if one does it online. How do you interpret the information presented on the website? I am not arguing whether ME offer Treasury auctions online in reality. I am stating that according to the table, one can trade "Treasuries, including Auction and Secondary" with $0 fee. There are only three possibilities.

1) ME offers Treasury auctions online with $0 fee.
2) ME does not offer Treasury auctions online with $0 fee, and the table is wrong.
3) ME does not offer Treasury auctions online with $0 fee, and I read the table incorrectly.

Which one are you claiming, if you claiming 3), where is my mistake?
You've spent more time and effort on this than Merrill's marketing team. Congratulations. :beer

My comment was a logic joke: they can truthfully claim to charge $0 fees for online Treasury auctions because they don't allow you to make online Treasury auction orders. For all items in the empty set, they charge $0 fees. True, but irrelevant.
Yes. As as a mathematician I understand that p -> q is vacuously true if p is false. I did not realize that you were making a logical joke. In normal day-to-day life, I don't expect people to understand it so did not expect it. (I thought about mentioning it in my original reply but I decided not to.) Of course, bogleheads are not "normal." (I say it as a compliment.) Now that I know it is a joke, good joke.
Last edited by student on Sun Nov 20, 2022 3:48 pm, edited 3 times in total.
student
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

dual wrote: Sun Nov 20, 2022 2:24 pm

3) ME does not offer Treasury auctions online with $0 fee, and I read the table incorrectly
My experience, and that of drk also I think, is that Merrill Edge does not offer treasury securities at auctions online. That is why the fee is irrelevant.

Do you have an account there? You can settle any questions by showing us how to place an online treasury auction order.
I did not realize that drk was making a logical statement (regular people don't usually make this type of statement). If the term vacuously true was used, it would have tipped me off. I do have an account there but I haven't done auction. If they do not have it, it is really annoying that they use such misleading "advertising."
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by Cubs Fan »

I have a checking account at Bank of America and maintain 2 months of bill paying with this account. When more than that amount has accumulated I transfer the balance to Vanguard Federal Money Market Fund which I use as my emergency fund. When that amount exceeds the emergency fund level needed I invest the money according to my asset allocation at Vanguard. I keep at least $100,000.00 of VTI (Vanguard Total Stock Market Index Fund at Merrill Edge so that I can receive the Preferred Platinum Rewards level at Bank of America. Tell me if you can find a better value.
Do nothing. Keep mouth shut. Be one among many, and argue without anger.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by Marseille07 »

Cubs Fan wrote: Sun Nov 20, 2022 2:53 pm Tell me if you can find a better value.
Nothing wrong with PH, but I wouldn't park 2 months in BofA checking as I believe the yield is essentially 0%. Other institutions offer a checking & HYSA combo where they do overdraft from HYSA so you don't have to park much in checking.
US & FM (5% seed) | 100K EF
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gobsmacked
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by gobsmacked »

dual wrote: Sun Nov 20, 2022 12:49 pm

What money market fund would be the fairly low risk? I was looking at FIGXX.
Are you assuming that you have to use cash in a money market fund as your investment?

That is not correct. It is far better for you to transfer stock in the form of an ETF.

If you cannot do that, I suggest investing in Treasury bills. Merrill chargee a fee, $25 iirc, to buy at auction but you’ll get much more than in interest compared to a money market fund
Right now the balance to meet the Preferred Rewards Tier is just in a checking account earning a stupendous 0.04% interest. The goal is to keep it above that threshold (at least for now) and earning a better yield. I know I can invest it in an ETF but that might fall below the threshold somedays. So something fairly low risk would be great. Ideally avoiding as many fees as possible.
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dual
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by dual »

There’s a very long thread on preferred rewards and methods to satisfy the requirements

https://www.bogleheads.org/forum/view ... t=150033

The experience of most there and mine is that Bank of America is quite tolerant about market fluctuations bringing your balance below the threshold. I made other suggestions. Good luck.
student
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

dual wrote: Sun Nov 20, 2022 2:24 pm Do you have an account there? You can settle any questions by showing us how to place an online treasury auction order.
Just for fun, I logged on to Merrill Edge today and searched for 912796T33 which according to https://www.treasurydirect.gov/auctions/upcoming/ the auction is today. I was able to find it. I didn't buy it at the order page as I don't have enough money in the settlement account to buy even 1 bond.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by pshonore »

I have bought T Bills at ME in the past few months in the secondary market with no fee. AFAIK there is no way to enter an order for the auctions.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by Blandrew »

One other thing to be aware of at Merrill that they don't really promote is Preferred Deposit. Currently paying 3.46%, min 100k for initial deposit. You have to call them to setup the first deposit, after that you can manage it through the website.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by kevdude »

We have some cash sitting in one of their money market mutual funds - BlackRock Liquidity Fund: Temp Cash Fund (TMCXX), as of 11/18 the 7-Day Yield is 3.85%. At this time, it's their highest paying money market account, according to their Deposit Accounts and Money Fund Rates quote sheet.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by drk »

student wrote: Mon Nov 21, 2022 10:57 am Just for fun, I logged on to Merrill Edge today and searched for 912796T33 which according to https://www.treasurydirect.gov/auctions/upcoming/ the auction is today. I was able to find it. I didn't buy it at the order page as I don't have enough money in the settlement account to buy even 1 bond.
That was a reissue, so I suspect that you were seeing secondary results. I happened to have a bill mature today, just in time for the 17-week auction announced this morning (CUSIP 912796Z85, not a reissue). I'll try to place an order before the auction tomorrow morning.

Latest: the auction is available on Fidelity, but Merrill's Fixed Income order screen errors ("The symbol you entered is invalid. Please try again. (-1)").
student
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by student »

drk wrote: Tue Nov 22, 2022 11:56 am
student wrote: Mon Nov 21, 2022 10:57 am Just for fun, I logged on to Merrill Edge today and searched for 912796T33 which according to https://www.treasurydirect.gov/auctions/upcoming/ the auction is today. I was able to find it. I didn't buy it at the order page as I don't have enough money in the settlement account to buy even 1 bond.
That was a reissue, so I suspect that you were seeing secondary results. I happened to have a bill mature today, just in time for the 17-week auction announced this morning (CUSIP 912796Z85, not a reissue). I'll try to place an order before the auction tomorrow morning.

Latest: the auction is available on Fidelity, but Merrill's Fixed Income order screen errors ("The symbol you entered is invalid. Please try again. (-1)").
Thanks for the verification. This settles it.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by spickups09 »

Blandrew wrote: Mon Nov 21, 2022 11:03 pm One other thing to be aware of at Merrill that they don't really promote is Preferred Deposit. Currently paying 3.46%, min 100k for initial deposit. You have to call them to setup the first deposit, after that you can manage it through the website.
I have a taxable brokerage and Roth IRA with Merrill, but I think they both technically through Merrill "Edge" (i.e., their self-directed platform). Do you know if people using Merrill Edge are eligible for Preferred Deposit (assuming one has $100k in cash that they want to put in that)?
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by Katietsu »

spickups09 wrote: Tue Nov 22, 2022 1:16 pm
Blandrew wrote: Mon Nov 21, 2022 11:03 pm One other thing to be aware of at Merrill that they don't really promote is Preferred Deposit. Currently paying 3.46%, min 100k for initial deposit. You have to call them to setup the first deposit, after that you can manage it through the website.
I have a taxable brokerage and Roth IRA with Merrill, but I think they both technically through Merrill "Edge" (i.e., their self-directed platform). Do you know if people using Merrill Edge are eligible for Preferred Deposit (assuming one has $100k in cash that they want to put in that)?
Yes.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by spickups09 »

Katietsu wrote: Tue Nov 22, 2022 1:30 pm
spickups09 wrote: Tue Nov 22, 2022 1:16 pm
Blandrew wrote: Mon Nov 21, 2022 11:03 pm One other thing to be aware of at Merrill that they don't really promote is Preferred Deposit. Currently paying 3.46%, min 100k for initial deposit. You have to call them to setup the first deposit, after that you can manage it through the website.
I have a taxable brokerage and Roth IRA with Merrill, but I think they both technically through Merrill "Edge" (i.e., their self-directed platform). Do you know if people using Merrill Edge are eligible for Preferred Deposit (assuming one has $100k in cash that they want to put in that)?
Yes.
Thanks. I don't keep enough in cash currently to take advantage of this, but I'm glad to know about it.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by Katietsu »

spickups09 wrote: Tue Nov 22, 2022 1:45 pm
Katietsu wrote: Tue Nov 22, 2022 1:30 pm
spickups09 wrote: Tue Nov 22, 2022 1:16 pm
Blandrew wrote: Mon Nov 21, 2022 11:03 pm One other thing to be aware of at Merrill that they don't really promote is Preferred Deposit. Currently paying 3.46%, min 100k for initial deposit. You have to call them to setup the first deposit, after that you can manage it through the website.
I have a taxable brokerage and Roth IRA with Merrill, but I think they both technically through Merrill "Edge" (i.e., their self-directed platform). Do you know if people using Merrill Edge are eligible for Preferred Deposit (assuming one has $100k in cash that they want to put in that)?
Yes.
Thanks. I don't keep enough in cash currently to take advantage of this, but I'm glad to know about it.
Used to need $100k for any decent cash option at Merrill Edge. But there are now good options with only $1000 minimum investment.
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by spickups09 »

Katietsu wrote: Tue Nov 22, 2022 2:35 pm
spickups09 wrote: Tue Nov 22, 2022 1:45 pm
Katietsu wrote: Tue Nov 22, 2022 1:30 pm
spickups09 wrote: Tue Nov 22, 2022 1:16 pm
Blandrew wrote: Mon Nov 21, 2022 11:03 pm One other thing to be aware of at Merrill that they don't really promote is Preferred Deposit. Currently paying 3.46%, min 100k for initial deposit. You have to call them to setup the first deposit, after that you can manage it through the website.
I have a taxable brokerage and Roth IRA with Merrill, but I think they both technically through Merrill "Edge" (i.e., their self-directed platform). Do you know if people using Merrill Edge are eligible for Preferred Deposit (assuming one has $100k in cash that they want to put in that)?
Yes.
Thanks. I don't keep enough in cash currently to take advantage of this, but I'm glad to know about it.
Used to need $100k for any decent cash option at Merrill Edge. But there are now good options with only $1000 minimum investment.
Yup, I see the money market fund options. Thanks.
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best money market account in merrill edge

Post by nsj13 »

[Thread merged into here --admin LadyGeek]

Good morning and happy thanksgiving!

I need to keep some money in Merrill Edge and am looking for a good cash alternative money market account that will provide a decent yield. Any recommendations? There seem to be a lot of options on their website.

Thanks!
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Re: best money market account in merrill edge

Post by anon_investor »

nsj13 wrote: Thu Nov 24, 2022 10:19 am Good morning and happy thanksgiving!

I need to keep some money in Merrill Edge and am looking for a good cash alternative money market account that will provide a decent yield. Any recommendations? There seem to be a lot of options on their website.

Thanks!
TTTXX, Blackrock's treasury only money market fund (so exempt from state/local taxes). NTF at Merrill Edge, only a $1k initial minimal purchase, $1 minimum thereafter, and a 1:45pm ET trade cutoff time (much later than many other money market funds at Merrill Edge). Current yield is around 3.48%.
jimmyg
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Re: best money market account in merrill edge

Post by jimmyg »

BlackRock BLF Treasury Trust Fund - Institutional (TTTXX) seems a bit weird to me. I believe it had 52% "Income from Federal Obligations" last year, which seems rather low for a money market fund that is 100% U.S. Treasury debt.

Federated Hermes U.S. Treasury Cash Reserves - Institutional (UTIXX) seems interesting, but I can't find any USGO info from Federated Hermes.

Fidelity Investments Money Market Treasury Only Portfolio - Class I (FSIXX) had 99.91% "Income from U.S. Government Securities" last year, and its after-tax yield seems pretty good.
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Re: best money market account in merrill edge

Post by dual »

See also this thread
Best money market fund on Merrill Edge for Bank of America Preferred Rewards
https://www.bogleheads.org/forum/viewt ... ?t=390722
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by LadyGeek »

I merged nsj13's thread into a similar discussion.

(Thanks to the member who reported the post and provided a link to this thread.)
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Re: Best money market fund on Merrill Edge for Bank of America Preferred Rewards

Post by softwaregeek »

Not exactly a mmf, but I use vtip for my short term cash. Vangaurd short term inflation protected treasury.
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Re: best money market account in merrill edge

Post by anon_investor »

jimmyg wrote: Thu Nov 24, 2022 11:56 am BlackRock BLF Treasury Trust Fund - Institutional (TTTXX) seems a bit weird to me. I believe it had 52% "Income from Federal Obligations" last year, which seems rather low for a money market fund that is 100% U.S. Treasury debt.

Federated Hermes U.S. Treasury Cash Reserves - Institutional (UTIXX) seems interesting, but I can't find any USGO info from Federated Hermes.

Fidelity Investments Money Market Treasury Only Portfolio - Class I (FSIXX) had 99.91% "Income from U.S. Government Securities" last year, and its after-tax yield seems pretty good.
Interesting, wonder what the rest of the income from TTTXX came from since it currently only holds US treasuries. I wonder if it changed it strategy once rates increased.
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jimmyg wrote: Thu Nov 24, 2022 11:56 am Federated Hermes U.S. Treasury Cash Reserves - Institutional (UTIXX) seems interesting, but I can't find any USGO info from Federated Hermes.
https://www.federatedinvestors.com/prod ... eserves.do

If you look at the 2021 tax info it indicates 100% of income was from US Treasuries.
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Re: best money market account in merrill edge

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anon_investor wrote: Thu Nov 24, 2022 2:42 pm Interesting, wonder what the rest of the income from TTTXX came from since it currently only holds US treasuries. I wonder if it changed it strategy once rates increased.
Maybe TTTXX had some repurchase agreements before and then switched those to U.S. Treasury in mid-2021. I found one hit on the Wayback Machine that showed TTTXX was 100% U.S. Treasury Debt in October 2021, so if it's been like that since then, then TTTXX should have a very high USGO percentage in 2022.
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Re: best money market account in merrill edge

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anon_investor wrote: Thu Nov 24, 2022 2:55 pm https://www.federatedinvestors.com/prod ... eserves.do

If you look at the 2021 tax info it indicates 100% of income was from US Treasuries.
Thanks! I wish their info was a bit more specific; Vanguard and Fidelity will explicitly indicate when a fund is exempt from tax in California, although with 100% Treasury, UTIXX should qualify...
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Re: best money market account in merrill edge

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jimmyg wrote: Thu Nov 24, 2022 5:17 pm
anon_investor wrote: Thu Nov 24, 2022 2:55 pm https://www.federatedinvestors.com/prod ... eserves.do

If you look at the 2021 tax info it indicates 100% of income was from US Treasuries.
Thanks! I wish their info was a bit more specific; Vanguard and Fidelity will explicitly indicate when a fund is exempt from tax in California, although with 100% Treasury, UTIXX should qualify...
At least for 2022, TTTXX FSIXX UTIXX have all held 100% US treasuries.
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