# Fidelity Government Money Market Fund (SPAXX): Money Market Fund Facts & Distributions

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- Issuer: Fidelity · Asset class: Money Market
- Strategy: Actively Managed · Inception: 1990-02-04

Seeks as high a level of current income as is consistent with preservation of capital and liquidity.

## Key Facts

| Metric | Value |
|---|---|
| Price | $1.00 |
| Expense Ratio | 0.42% |
| Assets Under Management | $437.41B |
| NAV | $1.00 (2026-11-06 close) |
| Holdings Count | 0 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | — |
| 52-Week Range | $1.00 – $1.00 |
| Beta | 0.00 |

## Frequently Asked Questions

### What does SPAXX invest in?

Seeks as high a level of current income as is consistent with preservation of capital and liquidity.

### What is the expense ratio of SPAXX?

Fidelity Government Money Market Fund (SPAXX) charges an expense ratio of 0.42%. This is the annual fee deducted from fund assets to cover management and operations.

### How big is SPAXX?

Fidelity Government Money Market Fund (SPAXX) manages $437.41B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Is SPAXX actively managed or an index fund?

SPAXX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (SPAXX's is 0.42%) in exchange for the discretion to over- or under-weight positions.

### When was SPAXX launched?

Fidelity Government Money Market Fund (SPAXX) launched in February 1990 and is managed by Fidelity.

### How has SPAXX performed?

SPAXX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.

### Does SPAXX pay a dividend?

Fidelity Government Money Market Fund (SPAXX) 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 SPAXX pay dividends?

Fidelity Government Money Market Fund 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 SPAXX's dividend yield?

SPAXX's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is SPAXX's next ex-dividend date?

SPAXX 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 SPAXX's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.42% 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 SPAXX charge its expense ratio?

The expense ratio is deducted in tiny daily slices from SPAXX'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 SPAXX cost more than a fund like VOO?

SPAXX is actively managed (current expense ratio 0.42%). 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 SPAXX's fee is competitive for the active-management cohort.

### Are there cheaper alternatives to SPAXX?

The Lower-Fee Alternatives card above lists money market funds following the same investment strategy as SPAXX (0.42%) 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/spaxx
- Distribution history: https://www.dividenddata.com/funds/spaxx/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/spaxx/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/spaxx/expenses
- Peer comparison: https://www.dividenddata.com/funds/spaxx/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.