How to Get 30-Day Yield When Only a 7-Day is Given?
How to Get 30-Day Yield When Only a 7-Day is Given?
I want to compare 30-day yields on FZDXX (Fidelity Money Market Fund) with FZEXX (Tax Exempt MM Fund).
The 30 day yield on FZDXX is shown today as 4.90%, but the yield on FZEXX is only listed as a 7-day yield at 3.19%. How can I find the 30 day yield on the latter?
The 30 day yield on FZDXX is shown today as 4.90%, but the yield on FZEXX is only listed as a 7-day yield at 3.19%. How can I find the 30 day yield on the latter?
Last edited by JSparks on Fri Jun 09, 2023 9:06 am, edited 1 time in total.
Re: How to Get 30-Day Yield When Only a 7-Day is Given?
Still holding on to hope that some one can answer this.
Re: How to Get 30-Day Yield When Only a 7-Day is Given?
Bond funds typically report a 30-day yield.
Money market funds typically report a 7-day yield.
Source:
https://www.investopedia.com/terms/s/secyield.asp
https://www.bogleheads.org/wiki/SEC_yield
I see 7-day yield reported for BOTH of those funds on their respective summary pages:
FZEXX: https://fundresearch.fidelity.com/mutua ... /316341403
FZDXX: https://fundresearch.fidelity.com/mutua ... /31617H805
Money market funds typically report a 7-day yield.
Source:
https://www.investopedia.com/terms/s/secyield.asp
https://www.bogleheads.org/wiki/SEC_yield
I see 7-day yield reported for BOTH of those funds on their respective summary pages:
FZEXX: https://fundresearch.fidelity.com/mutua ... /316341403
FZDXX: https://fundresearch.fidelity.com/mutua ... /31617H805
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?
The yields are annualized, so you can compare them directly.
Re: How to Get 30-Day Yield When Only a 7-Day is Given?
I find the most recent distribution, divide that by the number of days in that month, multiply by 365. On a money market fund the answer is your annual yield, on any other you divide that number by the share price on the distribution day
I am sure there are better and more accurate methods, but it's quick and gets me close
I am sure there are better and more accurate methods, but it's quick and gets me close
Re: How to Get 30-Day Yield When Only a 7-Day is Given?
You can't rely on the 7 day yield on the tax-exempt fund because it has odd pay in/out dates. Sometimes within any 7 day period with the month, the 7 day yield is well over 5%.Unhandled wrote: ↑Fri Jun 09, 2023 9:15 am Bond funds typically report a 30-day yield.
Money market funds typically report a 7-day yield.
Source:
https://www.investopedia.com/terms/s/secyield.asp
https://www.bogleheads.org/wiki/SEC_yield
I see 7-day yield reported for BOTH of those funds on their respective summary pages:
FZEXX: https://fundresearch.fidelity.com/mutua ... /316341403
FZDXX: https://fundresearch.fidelity.com/mutua ... /31617H805
Re: How to Get 30-Day Yield When Only a 7-Day is Given?
I don't understand what you mean.Hyperchicken wrote: ↑Fri Jun 09, 2023 10:40 am The yields are annualized, so you can compare them directly.
Re: How to Get 30-Day Yield When Only a 7-Day is Given?
Use their other fund pages which have much more detailed info. They have current 1/7/30-day yield right at the top. If you scroll down a bit you can see the monthly yields. If you go to "Historical Prices, Distribution & Yields" you can look up the yield on any day.JSparks wrote: ↑Fri Jun 09, 2023 2:33 pmYou can't rely on the 7 day yield on the tax-exempt fund because it has odd pay in/out dates. Sometimes within any 7 day period with the month, the 7 day yield is well over 5%.Unhandled wrote: ↑Fri Jun 09, 2023 9:15 am Bond funds typically report a 30-day yield.
Money market funds typically report a 7-day yield.
Source:
https://www.investopedia.com/terms/s/secyield.asp
https://www.bogleheads.org/wiki/SEC_yield
I see 7-day yield reported for BOTH of those funds on their respective summary pages:
FZEXX: https://fundresearch.fidelity.com/mutua ... /316341403
FZDXX: https://fundresearch.fidelity.com/mutua ... /31617H805
https://institutional.fidelity.com/app/ ... /2738.html
https://institutional.fidelity.com/app/ ... /2737.html
here's a list of all their MMF
https://institutional.fidelity.com/app/ ... funds.html
Re: How to Get 30-Day Yield When Only a 7-Day is Given?
Awesome. Thank you!erp wrote: ↑Fri Jun 09, 2023 2:59 pm Use their other fund pages which have much more detailed info. They have current 1/7/30-day yield right at the top. If you scroll down a bit you can see the monthly yields. If you go to "Historical Prices, Distribution & Yields" you can look up the yield on any day.
https://institutional.fidelity.com/app/ ... /2738.html
https://institutional.fidelity.com/app/ ... /2737.html
here's a list of all their MMF
https://institutional.fidelity.com/app/ ... funds.html