SPAXX or "SPACKS" the Fidelity Government Money Market Fund As the name suggests SPAXX is what's called a money market fund This is a fund that holds ultra short term instruments that are considered cash equivalents such as CD's commercial paper and repo agreements in order to pay what is usually a small interest rate This type of fund usually pays a marginally higher interest rate than that of a plain ol' savings account at a bank The trade off of course is that a money market fund is not completely riskless spaxx is specifically collateralized by government securities and would thus be considered safer than a broader money market fund that includes corporate debt If we look at the holdings of spaxx it's mostly US government repurchase agreements followed by US Treasury bills and US Treasury coupons We would expect a fund like this to have volatility no greater than about 3% in either direction At the time of this video spaxx has a 7 day sec yield of 5.00%
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