VMFXX or VUSXX?
VMFXX yields 3.79% today and VUSXX 3.80%. What you keep turns on who taxes each. For a single filer earning $150,000 a year, VUSXX keeps more in every state, DC and New York City.
Who taxes each
- VMFXX
- VMFXX is taxed federally, with the 3.8% on investment income above $200,000 single or $250,000 joint. States tax only the 33.4% of its income that wasn't from U.S. government obligations in 2025.
- VUSXX
- No state taxes VUSXX, nor New York City: all of its 2025 income came from U.S. government obligations. It is taxed federally, with the 3.8% on investment income above $200,000 single or $250,000 joint.
What each keeps
The yield left after every tax, each with $100,000 in cash. The one that keeps more is in ink.
Work out yours, against all six funds.
| Who | VMFXX | VUSXX |
|---|---|---|
| Texas, single, $60,000 | 3.34% | 3.34% |
| Texas, single, $150,000 | 2.88% | 2.89% |
| Texas, married, $400,000 | 2.74% | 2.74% |
| California, single, $60,000 | 3.26% | 3.34% |
| California, single, $150,000 | 2.76% | 2.89% |
| California, married, $400,000 | 2.62% | 2.74% |
| New York, single, $60,000 | 3.27% | 3.34% |
| New York, single, $150,000 | 2.81% | 2.89% |
| New York, married, $400,000 | 2.65% | 2.74% |
| New York City, single, $60,000 | 3.22% | 3.34% |
| New York City, single, $150,000 | 2.76% | 2.89% |
| New York City, married, $400,000 | 2.60% | 2.74% |
Vanguard’s 7-day SEC yields for October 1, 2026.
Where each comes out ahead
Across every state, DC and New York City, on today’s yields.
- Single, $60,000
- VUSXX keeps more everywhere but Alaska, Florida, Nevada, New Hampshire, North Dakota, South Dakota, Tennessee, Texas, Washington and Wyoming, where they come out the same.
- Single, $150,000
- VUSXX keeps more everywhere.
- Married, $400,000
- VUSXX keeps more everywhere but Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming, where they come out the same.
Asked about VMFXX and VUSXX
Is VMFXX or VUSXX better?
On the yields for October 1, 2026, VUSXX keeps more everywhere. That is for a single filer earning $150,000 a year; the answer turns on your state and your bracket.
What is the difference between VMFXX and VUSXX?
VMFXX is a government money market fund. 66.6% of its income in 2025 came from U.S. government obligations. VUSXX is a Treasury money market fund. 100% of its income in 2025 came from U.S. government obligations.
How is VMFXX taxed?
VMFXX is taxed federally, with the 3.8% on investment income above $200,000 single or $250,000 joint. States tax only the 33.4% of its income that wasn't from U.S. government obligations in 2025.
How is VUSXX taxed?
No state taxes VUSXX, nor New York City: all of its 2025 income came from U.S. government obligations. It is taxed federally, with the 3.8% on investment income above $200,000 single or $250,000 joint.
Checked on September 30, 2026 against Net investment income tax, Vanguard, U.S. government obligations income information for 2025, ICI, state taxation of dividends from federal obligations (2023), ICI, state taxation of state and local obligations (2023), Rev. Proc. 2025-32 and every state's published schedule and Vanguard's daily 7-day SEC yields. An estimate for your records, not tax advice.
Put more back in your pocket.
Four questions find the fund that leaves you the most. Reimburse writes when a different one starts paying you more.