SPAXX is a Money Market Fund
SPAXX (Fidelity Hereford Street Trust - Fidelity Government Money Market Fund) is a Money Market Fund (MMF) — not an individual stock and not an ETF. Money Market Funds are the class of mutual funds that aim to maintain a constant $1.00 Net Asset Value (NAV) at all times. Instead of trading live on an exchange like a stock, they price once per day at their closing NAV and pay their earnings out as regular dividend distributions.
What's inside
Short-dated U.S. Treasury bills, repurchase agreements collateralised by Treasuries, and other highest-credit- quality government or corporate paper. Average portfolio maturity is typically 30–60 days, keeping interest-rate risk minimal.
Where you'll see it
Brokerages (Fidelity, Schwab, Vanguard, First American, BlackRock, Federated Hermes) use MMFs as the automatic cash-sweep vehicle for uninvested cash balances so idle cash earns the short-rate yield.
Aims to maintain $1.00 — not guaranteed. SEC rule 2a-7 governs Money Market Funds, but a fund can still “break the buck” in extreme market stress. MMFs are not FDIC-insured; SIPC covers brokerage custody, not fund credit risk. Read the prospectus before treating any MMF as cash-equivalent.
Ticker convention: US mutual funds always have exactly 5-letter tickers. Money Market Funds specifically end in double-XX (SPAXX, FGXXX, VMFXX, SWVXX); ordinary open-end mutual funds end in a single X (VTSAX, FXAIX); individual stocks are 1–4 letters and ETFs are 3–4 letters. DiviDrip auto-classifies any 3-letter-prefix + XX ticker as an MMF, hides the Dividend Triangle tab (which values dividend growth — not applicable to a $1.00-NAV product), and swaps in this overview instead.
SPAXX is Fidelity Hereford Street Trust - Fidelity Government Money Market Fund. Trading at $1.00.
Dividend snapshot
| Annual dividend rate | — |
| Current yield | — |
| Payment frequency | — |
| Next ex-dividend date | — |
| Most recent payment date | — |
| Last payment amount | — |
| 5-year dividend CAGR | — |
| 3-year dividend CAGR | — |
| Expense ratio | 0.42% |
| Payout ratio | 0% |
| Exchange | NAS |
Price chart & technicals
Price Chart
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Technicals
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Data refreshed 2026-10-30. Not investment advice. Yields and prices change continuously; always verify the latest numbers in the live app before buying.