Wealthy PotFDRXX Review (2026)
A government sweep alternative to SPAXX that often nets a slightly higher yield
By Wealthy Pot · Last updated September 2026
Who FDRXX is for
Fidelity customers who want a government sweep, often a touch higher net yield than SPAXX
Yield, fees & minimum
Fidelity Government Cash Reserves (FDRXX) is a government money-market fund from Fidelity, with a 0.35% expense ratio and a $0 minimum. Its 7-day SEC yield (3.40% (7-day SEC yield)) changes daily with short-term rates — confirm the current figure on the official page. State tax: partly state-tax-exempt (52.2% u.s. government obligations, 2025 — below the ca/ct/ny threshold). It can serve as an automatic core/sweep position.
The bottom line
A government sweep alternative to SPAXX that often nets a slightly higher yield Main drawback: less well-known than spaxx; still costlier than vanguard/schwab government funds.
See how FDRXX 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.