Money Market Fund
Is This Fund a Good Choice for Me?
The Daily Income Fund may be appropriate if you plan to withdraw your money in the near term and want to earn a modest stream of interest on your savings.
Investment Objective and Strategy
The fund seeks maximum current income, consistent with preservation of capital and liquidity, by investing in high-quality money market securities. These investments include: debt securities backed by the full faith and credit of the United States (e.g., U.S. Treasury bills) or by the credit of a federal agency or government-sponsored entity (e.g., Fannie Mae and Freddie Mac mortgage-backed bonds). The U.S. government securities in which the fund invests may also include variable and floating rate instruments.
|Inception||November 19, 1990|
|Asset Allocation||Money Market|
Category: Money Market — Taxable
Classification: U.S. Government Money Market
|Fee Structure||No Load|
|Expense Ratio||0.78% (Net 0.37%) (12/31/2020)|
|Median Expense Ratio for Peer Group||0.35% (12/31/2020)|
The expense ratio shows the percentage of fund assets deducted annually to cover operating costs. Fund expense ratios shown here do not include acquired fund fees and expenses. If applicable, these additional costs are disclosed in the prospectus. For some funds, the investment advisor has agreed voluntarily or contractually (for at least the current fiscal year) to waive or reimburse a portion of expenses. The net expense ratio is the expense ratio minus the portion of expenses waived or reimbursed. Please see the current prospectus for additional details.