VMRXX Money Market — Vanguard Cash Reserves Federal Money Market Fund Admiral Shares

Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX)

Updated October 2, 2026.

VMRXX is a Money Market. its distribution rate is 3.70%, its trailing-12-month yield is 3.38%, its expense ratio is 0.10%. Total return is 26.6% over the past 30.9 years, 2109.4 points behind SPY at 2136.0%.

At the current 3.70% distribution rate, a $10,000 investment would generate approximately $370 per year, or $30.83 per month.

Vanguard Cash Reserves Federal Money Market Fund is a government money market fund that seeks current income while maintaining liquidity and a stable share price of $1 by investing at least 99.5% of assets in cash, U.S. government securities, and repurchase agreements collateralized fully by U.S. government securities or cash. The fund distributes income monthly and carries a current distribution rate reflecting prevailing short-term interest rates. It suits conservative investors holding cash for short-term goals who want a government-backed portfolio and prioritize capital preservation and liquidity over growth.

VMRXX performance versus SPY

Price and return data through 2026-10-02.

Total return is 26.6% over the past 30.9 years, 2109.4 points behind SPY at 2136.0%. Over the past year its total return — price change plus distributions reinvested — is 3.4%.

VMRXX key facts

Issuer

Vanguard

Asset type

Money Market

Asset class

Fixed Income

Expense ratio

0.10%

Distribution rate

3.70%

Distribution frequency

Monthly

Trailing yield

3.38%

Last close

$1.00 (as of 2026-10-02)

AUM

$88,594,595,840

Average volume

0.0

Last dividend

$0.00308

Last ex-dividend date

08/31/2026

Last payment date

09/01/2026

Beta

0.0046

How Dividend Vision calculates yield and returns

Distribution rate (3.70%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (3.38%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. 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: Vanguard 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.

VMRXX risks and drawbacks

VMRXX'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 VMRXX — and who may not

VMRXX 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.

Frequently asked questions

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