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SPAXX Money Market — Fidelity Government Money Market Fund
Fidelity Government Money Market Fund (SPAXX)
Updated November 13, 2026.
Verdict as of November 13, 2026 close
It pays monthly and its distribution rate is 3.59%. The latest total cash payment per current share, $0.00299 with an ex-date of October 30, 2026, was 7.2% higher than the previous $0.00279. It is not yet confirmed whether this is an increase in the regular payout or a one-off difference.
Sources: Fidelity Investments page for SPAXX, Section 19a-1 notices, scoring methodology.
SPAXX is a money market fund. Its distribution rate is 3.59%, its trailing-12-month yield is 3.36%, its expense ratio is 0.4173%. Total return is 4.1% over the past 1.2 years, 15.3 points behind SPY at 19.4%.
At the current 3.59% distribution rate, a $10,000 investment would generate approximately $359 per year, or $29.92 per month.
Fidelity Government Money Market Fund is a money market fund that seeks current income while preserving capital and liquidity by investing at least 99.5% of assets in cash, U.S. Government securities, and fully collateralized repurchase agreements; it commonly serves as the default cash sweep option in Fidelity brokerage accounts. The fund distributes monthly and currently carries a competitive distribution rate. Money market funds appeal to conservative investors seeking stable, liquid holdings and a steady stream of income with minimal risk.
SPAXX dividend yield and income
Price as of 2026-11-13.
The distribution rate (3.59%) uses latest regular dividend ($0.00299) × 12 ÷ market price dated 2026-11-13; one-off specials excluded; identified recurring supplementals included. Trailing-12-month yield (3.36%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.00299. The ex-dividend date is 10/30/2026. The payment date is 11/02/2026. At the current 3.59% distribution rate, a $10,000 investment would generate approximately $359 per year, or $29.92 per month.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2026-10-30 | $0.00299 | 7.2% Total cash (unclassified) |
| 2026-09-30 | $0.00279 | -1.1% Total cash (unclassified) |
| 2026-08-31 | $0.00282 | 0.7% Total cash (unclassified) |
| 2026-07-31 | $0.0028 | 3.7% Total cash (unclassified) |
| 2026-06-30 | $0.0027 | -2.5% Total cash (unclassified) |
| 2026-05-31 | $0.00277 | 2.6% Total cash (unclassified) |
| 2026-04-30 | $0.0027 | -3.6% Total cash (unclassified) |
| 2026-03-31 | $0.0028 | 13.8% Total cash (unclassified) |
| 2026-02-28 | $0.00246 | -13.7% Total cash (unclassified) |
| 2026-01-31 | $0.00285 | -3.1% Total cash (unclassified) |
| 2025-12-31 | $0.00294 | -1.0% Total cash (unclassified) |
| 2025-11-28 | $0.00297 | -7.5% Total cash (unclassified) |
| 2025-10-31 | $0.00321 | 0.0% Total cash (unclassified) |
| 2025-09-30 | $0.00321 | -4.7% Total cash (unclassified) |
| 2025-08-29 | $0.00337 | 0.0% Total cash (unclassified) |
| 2025-07-31 | $0.00337 | 4.0% Total cash (unclassified) |
| 2025-06-30 | $0.00324 | -3.3% Total cash (unclassified) |
| 2025-05-30 | $0.00335 | 2.4% Total cash (unclassified) |
| 2025-04-30 | $0.00327 | -3.3% Total cash (unclassified) |
| 2025-03-31 | $0.00338 | — |
| 2025 total | $0.03231 | — |
| 2026 YTD total | $0.02768 | 4.8% vs prior-year YTD |
SPAXX performance versus SPY
Total return is 4.1% over the past 1.2 years, 15.3 points behind SPY at 19.4%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 0.3% | — |
| 3M | 0.9% | — |
| 6M | 1.7% | — |
| Since 2025-09-02 (first price on file) · 1.2 years | 4.1% | 3.40% |
SPAXX key facts
- Issuer
- Fidelity Investments
- Asset type
- Money Market
- Asset class
- Fixed Income
- Inception date
- 02/05/1990
- Expense ratio
- 0.4173%
- Distribution rate
- 3.59%
- Distribution frequency
- Monthly
- Trailing yield
- 3.36%
- Last close
- $1.00 (as of 2026-11-13)
- Average volume
- 0
- Dividend
- $0.00299
- Ex-dividend date
- 10/30/2026
- Payment date
- 11/02/2026
- Beta
- 0.0061
How Dividend Vision calculates yield and returns
Distribution rate (3.59%) uses latest regular dividend ($0.00299) × 12 ÷ market price dated 2026-11-13; one-off specials excluded; identified recurring supplementals included. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.36%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: Fidelity Investments or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
SPAXX risks and drawbacks
SPAXX's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window.
Who may consider SPAXX — and who may not
SPAXX may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
More on SPAXX
Compare SPAXX
SPAXX vs similar funds:
Frequently asked questions
Does SPAXX pay monthly?
Yes. SPAXX currently pays monthly.
What is SPAXX's expense ratio?
SPAXX's expense ratio is 0.4173%.
What is SPAXX's dividend yield?
SPAXX's distribution rate is 3.59%, paid monthly, with a 0.4173% expense ratio — latest regular dividend ($0.00299) × 12 ÷ market price dated 2026-11-13; one-off specials excluded; identified recurring supplementals included.
When does SPAXX pay a dividend?
SPAXX pays monthly. The dividend amount is $0.00299. The ex-dividend date is 10/30/2026. The payment date is 11/02/2026.
How has SPAXX performed?
Total return is 4.1% over the past 1.2 years, 15.3 points behind SPY at 19.4%.
Is SPAXX a good investment?
Its distribution rate is 3.59% (latest regular dividend ($0.00299) × 12 ÷ market price dated 2026-11-13; one-off specials excluded; identified recurring supplementals included). Compare peers below rather than treating any single figure as a buy or sell.
More securities from Fidelity Investments.
Tickers
It pays monthly and its distribution rate is 3.59%. The latest total cash payment per current share, $0.00299 with an ex-date of October 30, 2026, was 7.2% higher than the previous $0.00279. It is not yet confirmed whether this is an increase in the regular payout or a one-off difference.
Sources: Fidelity Investments page for SPAXX, Section 19a-1 notices, scoring methodology.
Holdings as-of date unavailable.
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