VMFXX yield and fund details
Vanguard Federal Money Market Fund
VMFXX
Vanguard Federal Money Market Fund
- 7-day SEC yield
- 3.63% Older observation; check source
- Expense ratio
- 0.11% Included in reported net yield; do not subtract twice.
- Product
- Government money-market fund
- Minimum investment
- $3,000 reported; account exceptions may apply
What the fund holds
Cash, government securities and government-collateralized repurchase agreements.
Access to your cash
Purchased or redeemed at the fund's daily NAV. Vanguard also offers it as a brokerage settlement fund; minimums depend on that role.
Fund shares are investments, not FDIC- or NCUA-insured deposits. Yield and principal risks differ from a savings account. Product conventions checked September 7, 2026; rate observation dates are shown separately.
Recent yield observations
| Observation date | 7-day SEC yield |
|---|---|
| 2026-08-28 | 3.63% |
| 2026-08-27 | 3.62% |
| 2026-08-24 | 3.62% |
| 2026-08-23 | 3.62% |
| 2026-08-22 | 3.61% |
| 2026-08-21 | 3.61% |
| 2026-08-20 | 3.61% |
| 2026-08-19 | 3.61% |
| 2026-08-18 | 3.61% |
| 2026-08-17 | 3.61% |
| 2026-08-15 | 3.61% |
| 2026-08-14 | 3.61% |
| 2026-08-13 | 3.61% |
| 2026-08-12 | 3.61% |
| 2026-08-11 | 3.61% |
| 2026-08-10 | 3.61% |
| 2026-08-09 | 3.61% |
| 2026-08-08 | 3.62% |
| 2026-08-07 | 3.62% |
| 2026-08-06 | 3.62% |
| 2026-08-05 | 3.62% |
| 2026-08-04 | 3.62% |
| 2026-08-03 | 3.62% |
| 2026-08-02 | 3.62% |
| 2026-08-01 | 3.61% |
| 2026-07-31 | 3.61% |
| 2026-07-30 | 3.60% |
| 2026-07-29 | 3.60% |
| 2026-07-28 | 3.59% |
| 2026-07-27 | 3.59% |
Taxes and comparisons
State exemption depends on the fund's actual annual income allocation and your state's rules. A Treasury-focused name does not establish a 100% exemption. Use the tax-year assumptions in the after-tax comparison.