# American Funds U.S. Government Money Market Fund Class A (AFAXX): Money Market Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/afaxx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Capital Group · Asset class: Cash & Cash Equivalents - Strategy: Actively Managed · Inception: 2009-05-01 Money market mutual fund seeking income with capital preservation and liquidity. Invests at least 99.5% of assets in cash, U.S. Treasury securities, other U.S. government and agency securities, and fully collateralized repurchase agreements; at least 80% in U.S. government securities and related repurchase agreements. Targets low-risk cash management investors. ## Key Facts | Metric | Value | |---|---| | Price | $1.00 | | Expense Ratio | 0.49% | | Assets Under Management | $34.81B | | NAV | $1.00 (2026-11-07 close) | | Holdings Count | 147 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $1.00 – $1.00 | | Beta | 0.00 | ## Frequently Asked Questions ### What does AFAXX invest in? Money market mutual fund seeking income with capital preservation and liquidity. Invests at least 99.5% of assets in cash, U.S. Treasury securities, other U.S. government and agency securities, and fully collateralized repurchase agreements; at least 80% in U.S. government securities and related repurchase agreements. Targets low-risk cash management investors. ### What is the expense ratio of AFAXX? American Funds U.S. Government Money Market Fund Class A (AFAXX) charges an expense ratio of 0.49%. This is the annual fee deducted from fund assets to cover management and operations. ### What is the duration of AFAXX? Effective duration measures AFAXX's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. AFAXX's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of AFAXX? AFAXX's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of AFAXX? Yield to maturity (YTM) is the total return you'd earn from AFAXX if every bond in the portfolio is held to maturity at the current price. AFAXX's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### How big is AFAXX? American Funds U.S. Government Money Market Fund Class A (AFAXX) manages $34.81B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Does AFAXX pay a dividend? American Funds U.S. Government Money Market Fund Class A (AFAXX) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does AFAXX pay dividends? American Funds U.S. Government Money Market Fund Class A pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is AFAXX's dividend yield? AFAXX's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is AFAXX's next ex-dividend date? AFAXX hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page. ### How much will AFAXX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.49% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does AFAXX charge its expense ratio? The expense ratio is deducted in tiny daily slices from AFAXX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does AFAXX cost more than a fund like VOO? AFAXX is actively managed (current expense ratio 0.49%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether AFAXX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to AFAXX? The Lower-Fee Alternatives card above lists money market funds following the same investment strategy as AFAXX (0.49%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/afaxx - Distribution history: https://www.dividenddata.com/funds/afaxx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/afaxx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/afaxx/expenses - Peer comparison: https://www.dividenddata.com/funds/afaxx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.