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Wells Fargo Sweep Fund
Old 07-31-2007, 05:03 PM   #1
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Wells Fargo Sweep Fund

I openned a brokerage account with WFB and they offer different sweep funds, the safest is <2% FDIC covered. Below are the other choices. I tend to see money market funds as 'safe', I should never have too much in these in any case but I would like to make a good choice, how do you evaluate the risk/return on monry market funds? I am in the 25% tax level so I do not automatically jump at the California tax free but it does look pretty good.

SGCXX WF Adv California Tax-Free Money Market Fd-Cl A 2.98% WMNXX WF Adv Minnesota Money Market Fd-Cl A 2.91% NWMXX WF Adv National Tax-Free Money Market Fd-Cl A 3.05% NWIXX WF Adv Cash Investments Money Market Fd-Svc Cl 5.02% NWGXX WF Adv Government Money Market Fd-Svc Cl 4.97% MMIXX WF Adv National Tax-Free Money Market Fd-Svc Cl 3.26% NWRXX WF Adv Prime Investment Money Market Fd-Svc Cl 4.96% WFGXX WF Adv Government Money Market Fd-Cl A 4.82% WFLXX WF Adv Liquidity Reserve Money Market Fd-Inv Cl 4.75% STGXX WF Adv Money Market Fd-Cl A 4.75% WFTXX WF Adv 100% Treasury Money Market Fd-Cl A 4.32% PIVXX WF Adv Treasury Plus Money Market Fd-Cl A 4.71% DBGXX Dreyfus BASIC Government Money Market Fd 4.87% DLAXX Dreyfus Liquid Assets 4.69% DBAXX Dreyfus BASIC Money Market Fd 4.92% DUSXX Dreyfus 100% U.S. Treasury Money Market Fd 4.24%

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Old 07-31-2007, 06:35 PM   #2
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I just bought the Vanguard Prime money market with one of my free trades. It isn't really a sweep though, to warn you. You have to buy/sell it like a mutual fund when you need the cash or want to add more to it.

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Old 07-31-2007, 06:53 PM   #3
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Here are most of the Dreyfus MM funds. Expense ratios all look over 0.60%.

You can find the WF MM funds here, for example, WFTXX. I'd start looking at the lowest cost MM funds. Looks like the cheapest MM funds are NWIXX and NWGXX, and shockingly, it has the highest yield. WFGXX just looks like a higher cost clone of NWGXX. NWIXX it looks comparable to Vanguard's Prime MM.

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Old 07-31-2007, 07:15 PM   #4
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I am not sure that all those money market funds you listed are available for the sweep. But you can buy them "manually" . The ones with the highest interest rates have pretty stiff initial minimum requirements and the minimums of the others are still up there. The "cash sweep" can have even 1 cent in it.

I am in the 33% tax bracket, so I use the NWMXX for the sweep which is like a 4.55% taxable yield for me. If you are not in California, why pick a 2.98% tax-exempt fund over a 3.05% tax-exempt fund?

I treat all money market funds from large, well-established vendors as just as safe as FDIC-insured places. I do not keep much cash at WF, but use a VG tax-exempt MMfund for our emergency fund.
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Old 07-31-2007, 08:07 PM   #5
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I dont keep much there either since the transfer function is pretty good. I think I am getting WF Adv Government Money Market Fd-Cl A 4.82% for the roth money that I am working on allocating....
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