How to Get 30-Day Yield When Only a 7-Day is Given?

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JSparks
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How to Get 30-Day Yield When Only a 7-Day is Given?

Post by JSparks »

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?
Last edited by JSparks on Fri Jun 09, 2023 9:06 am, edited 1 time in total.
dkturner
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Re: How to Compare Yields on These Two MM Funds?

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JSparks
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by JSparks »

Still holding on to hope that some one can answer this.
Unhandled
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by Unhandled »

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
Hyperchicken
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by Hyperchicken »

The yields are annualized, so you can compare them directly.
gutterman
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by gutterman »

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
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JSparks
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by JSparks »

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
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%.
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JSparks
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by JSparks »

Hyperchicken wrote: Fri Jun 09, 2023 10:40 am The yields are annualized, so you can compare them directly.
I don't understand what you mean.
erp
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by erp »

JSparks wrote: Fri Jun 09, 2023 2:33 pm
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
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%.
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
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JSparks
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Re: How to Get 30-Day Yield When Only a 7-Day is Given?

Post by JSparks »

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
Awesome. Thank you!
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