I don't know anything about this fund, but it was recommended to me by a financial advisor as safe place to stick money and draw some interest. If anyone knows anything about the fund, I sure would appreciate your input.
How safe is MVRXX
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Dash man
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
You can find money market mutual funds with cheaper expense ratios at Vanguard.
For example, the VMFXX has comparable returns with a .11% expense ratio, compared to MVRXX that has .20%. Since MVRXX has a $10M minimum, that’s a lot of money you’re throwing away, and a lot of money to have in one fund.
For example, the VMFXX has comparable returns with a .11% expense ratio, compared to MVRXX that has .20%. Since MVRXX has a $10M minimum, that’s a lot of money you’re throwing away, and a lot of money to have in one fund.
OldShooter
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
He's right, but depending on your situation MVRXX may not be your best choice. Specifically, do you need day-to-day liquidity? if not, something like shorter-term CDs or Treasury bills will give you more yield with no risk. You should be able buy either directly through your broker at very low cost. Schwab and Fidelity get talked about a lot here but others probably offer the same thing. If your broker does not, you need a new broker.
Note that with MVRXX net expense ratio of 0.2% you are giving them about 10% of your return to do what any clerk can do: buy US government securities. IMO you do not need to hire a clerk to buy govvies.
There are lower-fee govvie funds out there I'm sure. M-S is not a charitable organization. I don't buy this kind of thing, but some here do and will probably jump in with recommendations.
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