Money Market Optimizer Spreadsheet - Releases, Bugs, etc.

[kincomplete]

It seems the historic yield data for FSIXX has become corrupt. The file https://drive.google.com/uc?export=down ... zhJfemEMxm doesn't contain data from before 10/27/2024. This causes problems rendering the charts

[retiringwhen]

It seems the historic yield data for FSIXX has become corrupt. The file https://drive.google.com/uc?export=down ... zhJfemEMxm doesn't contain data from before 10/27/2024. This causes problems rendering the charts

Thanks, I found a similar problem with about 5 or 6 files last week. It appears that Google Drive fails silently (just says the file is zero length) once in a while. It appears to happen at night NYC time so I guess it is an availability thing. It appears to be a change in behavior. I need to add defense code to fail out in this situation (I currently assume it is a new ticker file and never saw this issue before a month ago).

As mentioned above, I am trying to move the entire datastore to a static website on cloudflare. That should be a more bullet-proof datastore. Google Drive has turned out to have way too many odd behaviors to be relied upon. That effort is underway, but a IRL construction project is my current priority. Pray for snow if you want this done first

[mouth]

Pray for snow if you want this done first

I don't live on a mountain I can ski down, so snow just means shoveling and muddy paws. I will never pray for snow!

[retiringwhen]

It seems the historic yield data for FSIXX has become corrupt. The file https://drive.google.com/uc?export=down ... zhJfemEMxm doesn't contain data from before 10/27/2024. This causes problems rendering the charts

Several Fidelity Files including FSIXX, FSJXX, FSKXX, FZCXX and FRBXX all were impact, history has been restored.

[billthecat]

Is there a map to align all the various money market funds? While some are clear, overall I'm lost among a sea of MM funds. Even Schwab's money market page doesn't list all of the ones they offer.

Is this right? There are empty spots though. I'm not even sure of the classifications.

Code: Select all

				Schwab	Fidelity	Vanguard
Prime				SWVXX	SPRXX	
Federal MM			SWPXX	FDRXX		VMFXX
Federal cash			SWGXX	SPAXX	
Government			SNVXX		
Treasury obligations		SNOXX	FZFXX	
Treasury only fund		SNSXX	FDLXX		VUSXX
National munis			SWTXX	FTEXX		VMSXX
National munis AMT free		SWWXX	FMOXX	
California munis		SWKXX	FABXX		VCTXX

Some, like FDRXX and SPAXX, are so similar I'm not sure what the difference is.

[tj]

^ Wasn't there an issue with VUSXX not being Treasury only a few years ago?

[schvanfid]

For 2023, VUSXX was only 80.06% treasury. I don't know if we have any advanced notice of what the % will be for 2024.

https://advisors.vanguard.com/content/d ... 012024.pdf

[retiringwhen]

For 2023, VUSXX was only 80.06% treasury. I don't know if we have any advanced notice of what the % will be for 2024.

https://advisors.vanguard.com/content/d ... 012024.pdf

It has been 100% for 2024 so far through OCT. Treasury Funds will use Repos in the rare case that the T-bill market seizes up and the Fed opens their window. It is an extraordinary event that happens once a decade (well twice in the past 16 years since the GFC when they invented the Fed Reverse Repo window). VUSXX was not the only Treasury Fund that bought Repos, can you name the Fidelity Fund that did the same thing? Nobody talks about that here.

Update: hint, NONE of the Fidelity MM funds with Treasury in their name had 100% USGO in 2023.
Also, note that on an after-tax basis none of those Fidelity funds beat VUSXX in 2023 for even CA investors in the 13% tax bracket in 2023. Expense Ratios really matter.

[retiringwhen]

Is there a map to align all the various money market funds? While some are clear, overall I'm lost among a sea of MM funds. Even Schwab's money market page doesn't list all of the ones they offer.

Is this right? There are empty spots though. I'm not even sure of the classifications.

Code: Select all

				Schwab	Fidelity	Vanguard
Prime				SWVXX	SPRXX	
Federal MM			SWPXX	FDRXX		VMFXX
Federal cash			SWGXX	SPAXX	
Government			SNVXX		
Treasury obligations		SNOXX	FZFXX	
Treasury only fund		SNSXX	FDLXX		VUSXX
National munis			SWTXX	FTEXX		VMSXX
National munis AMT free		SWWXX	FMOXX	
California munis		SWKXX	FABXX		VCTXX

Some, like FDRXX and SPAXX, are so similar I'm not sure what the difference is.

The Samples tab on my sheet has a set of fund configurations that might help you see the differences. you can also use the Fund Watch tab in the All Funds edition to filter on the different types of funds to find birds of a feather.

[billthecat]

Is there a map to align all the various money market funds? While some are clear, overall I'm lost among a sea of MM funds. Even Schwab's money market page doesn't list all of the ones they offer.

Is this right? There are empty spots though. I'm not even sure of the classifications.

Code: Select all

				Schwab	Fidelity	Vanguard
Prime				SWVXX	SPRXX	
Federal MM			SWPXX	FDRXX		VMFXX
Federal cash			SWGXX	SPAXX	
Government			SNVXX		
Treasury obligations		SNOXX	FZFXX	
Treasury only fund		SNSXX	FDLXX		VUSXX
National munis			SWTXX	FTEXX		VMSXX
National munis AMT free		SWWXX	FMOXX	
California munis		SWKXX	FABXX		VCTXX

Some, like FDRXX and SPAXX, are so similar I'm not sure what the difference is.

The Samples tab on my sheet has a set of fund configurations that might help you see the differences. you can also use the Fund Watch tab in the All Funds edition to filter on the different types of funds to find birds of a feather.

That helps. Some funds, though, are not there. For example, SWPXX, which I gather is the Schwab equivalent of VMFXX? I'm getting lost in what the difference is between federal, government, treasury, and treasury only, but that's outside the scope of the tool.

I added SWPXX to the MySummary tab and the Fund Watch tab (All MM Optimizer), but the ATY is different, even though the 7-day SEC yield is the same on the two tabs. 2.52% on MySummary (and BestNow), and 2.31% on Fund Watch. I can't figure out why.

[retiringwhen]

I added SWPXX to the MySummary tab and the Fund Watch tab (All MM Optimizer), but the ATY is different, even though the 7-day SEC yield is the same on the two tabs. 2.52% on MySummary (and BestNow), and 2.31% on Fund Watch. I can't figure out why.

SWPXX appears to be a zombie fund on https://moneymarket.fun with no history available. That means the fund can be used for current comparisons, but none of the history related calculations will work for SWPXX.

That may be part of the issue. If you are willing to share the file you are using, send me a private message with a shared (view only) copy of the sheet and I can look at it. When I add the ticker to my sheet, Fund Watch and My Summary/BestNow agree on the after-tax yields.

BTW, SWPXX appears to be a zombie fund for Schwab too; hardly any assets, $263M which makes it tiny in the world of Gov't MM funds. It is almost identical to SWGXX from a holdings perspective. Seems a bit like the old VMRXX vs. VMFXX. There is an ER difference between those funds though.

From the Schwab Fund page: "Shares are available exclusively for variable annuity and variable life insurance account products."

[billthecat]

I added SWPXX to the MySummary tab and the Fund Watch tab (All MM Optimizer), but the ATY is different, even though the 7-day SEC yield is the same on the two tabs. 2.52% on MySummary (and BestNow), and 2.31% on Fund Watch. I can't figure out why.

SWPXX appears to be a zombie fund on https://moneymarket.fun with no history available. That means the fund can be used for current comparisons, but none of the history related calculations will work for SWPXX.

That may be part of the issue. If you are willing to share the file you are using, send me a private message with a shared (view only) copy of the sheet and I can look at it. When I add the ticker to my sheet, Fund Watch and My Summary/BestNow agree on the after-tax yields.

BTW, SWPXX appears to be a zombie fund for Schwab too; hardly any assets, $263M which makes it tiny in the world of Gov't MM funds. It is almost identical to SWGXX from a holdings perspective. Seems a bit like the old VMRXX vs. VMFXX. There is an ER difference between those funds though.

From the Schwab Fund page: "Shares are available exclusively for variable annuity and variable life insurance account products."

Ah, I guess SNVXX is comparable to VMFXX. I sent you the spreadsheet to take a look. (SNVXX shows the same ATY on both tabs.)

[mouth]

BTW, SWPXX appears to be a zombie fund for Schwab too; hardly any assets, $263M which makes it tiny in the world of Gov't MM funds. It is almost identical to SWGXX from a holdings perspective. Seems a bit like the old VMRXX vs. VMFXX

Not sure how "zombie" VMRXX is though given it isn't all that small at $119B. I mean sure it's roughly 50% of VMFXX but still, it does seem weird they both exist and VMRXX is the only MMF in my 401k so they clearly want new money coming into it.

[retiringwhen]

Not sure how "zombie" VMRXX is though given it isn't all that small at $119B. I mean sure it's roughly 50% of VMFXX but still, it does seem weird they both exist and VMRXX is the only MMF in my 401k so they clearly want new money coming into it.

I think institutional accounts like a 401K are exactly why Vanguard keeps VMRXX around. It can run cheaper since it does not have to perform settlement activities.

[glitchy]

It has been 100% for 2024 so far through OCT. Treasury Funds will use Repos in the rare case that the T-bill market seizes up and the Fed opens their window. It is an extraordinary event that happens once a decade (well twice in the past 16 years since the GFC when they invented the Fed Reverse Repo window). VUSXX was not the only Treasury Fund that bought Repos, can you name the Fidelity Fund that did the same thing? Nobody talks about that here.

Update: hint, NONE of the Fidelity MM funds with Treasury in their name had 100% USGO in 2023.

FWW the "Fidelity Investments Money Market Treasury Only Portfolio" group stayed at 95%. (I'm not totally sure how to map that to a complete list of ticker symbols but I believe it includes often-mentioned FRSXX and FSIXX, but *not* FDLXX which was 90%.)

Also, note that on an after-tax basis none of those Fidelity funds beat VUSXX in 2023 for even CA investors in the 13% tax bracket in 2023. Expense Ratios really matter.

Indeed, VUSXX is awesome--I know I'm not maximizing return keeping ready cash in FRSXX, but I regard the five-point difference as a reasonable fee for the cash management features of Fidelity.

[mouth]

Not sure how "zombie" VMRXX is though given it isn't all that small at $119B. I mean sure it's roughly 50% of VMFXX but still, it does seem weird they both exist and VMRXX is the only MMF in my 401k so they clearly want new money coming into it.

I think institutional accounts like a 401K are exactly why Vanguard keeps VMRXX around. It can run cheaper since it does not have to perform settlement activities.

Ah interesting.