Wealthy PotFDLXX Review (2026)
FDLXX is Fidelity’s Treasury-only fund, and its main draw is state-tax savings: because it holds Treasuries, most of its income escapes state income tax, which can beat SPAXX on an after-tax basis in a high-tax state. It is not a sweep, so you buy it deliberately.
By Wealthy Pot · Last updated September 2026
Pros
- Largely state-tax-exempt Treasury income
- No minimum investment
- Very low credit risk
Cons
- A 0.42% expense ratio, higher than Vanguard/Schwab Treasury funds
- Not a sweep — must be bought and sold manually
Who FDLXX is for
Best for Fidelity investors in high-tax states who want to hold cash in a largely state-tax-exempt Treasury fund and are willing to trade or auto-invest into it manually.
Yield, fees & minimum
Fidelity Treasury Only Money Market Fund (FDLXX) is a treasury money-market fund from Fidelity, with a 0.42% expense ratio and a $0 minimum. Its 7-day SEC yield (3.38% (7-day SEC yield)) changes daily with short-term rates — confirm the current figure on the official page. State tax: largely state-tax-exempt — 98.7% u.s. treasury (2025); qualified for the ca/ct/ny exclusion. It is not an automatic sweep — you buy and sell it yourself.
The bottom line
FDLXX is Fidelity’s Treasury-only fund, and its main draw is state-tax savings: because it holds Treasuries, most of its income escapes state income tax, which can beat SPAXX on an after-tax basis in a high-tax state. It is not a sweep, so you buy it deliberately. Main drawback: not a sweep — you must buy and sell it yourself; gross yield can trail prime funds.
Compare FDLXX with…
See how FDLXX stacks up in our money-market fund comparison, or compare FDIC-insured options in our high-yield savings guide.
We summarize the fund's published facts, not user reviews. 7-day yields are variable, change daily, and are re-checked against Fidelity's official page. Money-market funds are not FDIC-insured and, while low-risk, can lose value in extreme conditions. Some outbound links may be affiliate links — that never affects which funds we include or how we rate them. Nothing here is financial advice.