Money Markets

We put safety first

Vanguard Fixed Income Group manages all our money market funds, focusing on high-quality, short-term money market instruments, recognizing that shareholders value liquidity and stability of principal in their money market investments.

Vanguard's deep credit research and risk analysis aid in the security-selection process. Our cautious management approach helps provide liquidity and stability of principal for fund shareholders.


Consistent focus on key principles

Vanguard operates its money market funds with a consistent focus on several key principles:

  • Maintaining low expense ratios.
  • Maintaining very high standards for managing credit in our portfolios.
  • Conducting expert credit analysis of securities in the money market funds.
  • Preserving liquidity through conservative fund management.
  • Guarding against disruptive redemption activity.

Vanguard operates its money market funds in strict accordance with regulations governing the quality, maturity, and diversity of investments by money market funds.


Our low-cost advantage

  • Our unique ownership structure—Vanguard is owned by the Vanguard funds, and the funds are owned by their shareholders, our clients—allows us to pass on savings to our investors. Because we're client-owned, we have no other parties to answer to and therefore no conflicting loyalties. We make every decision, such as keeping investing costs as low as possible, with only our investors' needs in mind.

Money Market funds »

Taxable Federal muni State  muni

 

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Also of interest

The buck stops here: Vanguard money market funds

Performance report: How Vanguard funds stacked up

Notes:

  • All investing is subject to risk, including the possible loss of the money you invest.
  • Investment management services provided by Vanguard to the Vanguard funds are at cost.
  • An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in such a fund.

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