2 ms·

I'd say Vanguard's VUSXX at 5.26% clearly beats it.

• js2 2y ago
  I was with Vanguard for many years. Fidelity has too many things I like to split between two brokerages. Using 4-week treasuries on auto-roll is close enough to VUSXX for me. You really can't go wrong with Fidelity, Vanguard, or Schwab if all you need is a brokerage. But Fidelity has a much broader set of products that it offers compared to Vanguard. https://www.bogleheads.org/wiki/Fidelity:_one_stop_shop https://www.bogleheads.org/wiki/Fidelity:_one_stop_shop
• silisili 2y ago
  That's if you're only judging by APY. Vanguard has an atrocious app, and is missing many 'bank-like' features that Fidelity provides - I've enumerated some in a sibling comment. I don't think Vanguard even has a debit card, unless that's changed recently.
  • attentive 2y ago
    If you want to pay $330/year on $100k or $1650/year on $500k to Fidelity so they can pay themselves 0.42% expense on MM fund (atrocious if you ask me) but have a pretty app, that's of course your choice as a customer. I'd spend it on something else. There is also something to say about diversification across finance orgs. I am not sure having all the funds for banking and investing using the same org is healthy. Diversification helps with SIPC/FDIC/FCUA coverage too.
    • js2 2y ago
      I think most people know that Vanguard has lower expense ratios than Fidelity. What you give up are products and excellent customer service that some of us find worth paying a bit more for. I don't use an MMF as an investment vehicle. It holds my daily cash. I can't use Vanguard for that sort of thing, so it's not an apples-to-apples comparison. Excess cash (e.g. emergency fund) is in an auto-roll 4-week treasury ladder. I was previously a Vanguard customer. It's not like I don't have experience with both Vanguard and Fidelity. I understand the trade-offs.