Money market accounts and high-yield savings accounts are two similar savings vehicles, but with some important distinctions.

Anyone with a lower risk tolerance who prefers a straightforward savings option.

Tax-exempt money market funds reached a 2024 high of assets under management at $136.84 billion for the week ending Wednesday, according to the Investment Company Institute.

Money market mutual funds offer the ideal combination of low risk, high liquidity and consistent returns, making them a valuable asset for conservative investors or those managing short-term goals.

Eligible money market accounts are FDIC-insured up to $250,000 per depositor, for each account ownership category, so your funds are protected in the event of a bank failure.

Money market funds are mutual funds that only invest in money market securities and aim to maintain a unit price of $1, passing all interest earned onto investors in monthly dividend payments.

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Money market funds are an entirely different animal, offering investors a low-risk place to grow their money in the stock market. Here's what you need to know about these investment accounts and ...

"Money market funds are a type of open-ended mutual fund that invests in short-term debt securities, such as U.S. Treasurys and commercial paper," says Chad Rixse, director of financial planning ...

Money market funds earn higher base returns, starting above 1%, with some funds paying up to 4.00% or more. With a fund, you risk losing money if the market takes a severe downturn.

Money market mutual funds, on the other hand, tend to be short-term options (at least in comparison to money market accounts), and the majority of money market mutual funds mature in one year or less.