VMFXX vs VUSXX: Yield, Cost and Returns Compared
As of Nov 5, 2026, VMFXX yields more: 3.96% (7-day yield) against 3.96% for VUSXX. VMFXX's income is only partly exempt from state income tax; VUSXX's is mostly exempt from state income tax.
| Compared | VMFXX | VUSXX |
|---|---|---|
| Yield7-day yield | 3.96% | 3.96% |
| Expense ratio | In the yield | In the yield |
| Pays | Monthly | Monthly |
| Issuer | Vanguard | Vanguard |
| Assets | $375.6B | $118.5B |
| Started | — | — |
| Type | Government money market | Treasury money market |
Higher yield
VMFXX
3.96%
Lighter state tax
VUSXX
exempt from state income tax
$10,000 earns
$396
a year in VMFXX
Key facts: VMFXX vs VUSXX
Data as of · Source: SmarterDividends data
- As of Nov 5, 2026, VMFXX yields 3.96% (7-day yield) and VUSXX yields 3.96% (7-day yield).
- VMFXX's income is only partly exempt from state income tax, while VUSXX's is mostly exempt from state income tax.
Cite this page
SmarterDividends, "VMFXX vs VUSXX: Yield, Cost and Returns Compared," updated Nov 5, 2026, https://smarterdividends.com/compare/vmfxx-vs-vusxx
What each holds and how it's taxed
- VMFXX · Government money market
- A government money market fund: Treasuries, agency debt and repurchase agreements. Only the part earned from Treasuries is exempt from state tax, which the fund reports each year.
- VUSXX · Treasury money market
- A Treasury money market fund: Treasury bills and, for some, repurchase agreements backed by Treasuries. Most of its income is usually exempt from state income tax; the fund publishes the exact share each year.
General information, not tax advice. Every cash fund by yield →
VMFXX vs VUSXX: questions
Is VMFXX or VUSXX better?
It depends on the job. VMFXX pays more today (3.96% vs 3.96%). For cash you may need soon, yield after tax and how easily you can get the money out matter more than past returns.
Which pays a higher dividend, VMFXX or VUSXX?
VMFXX, at 3.96% against 3.96% for VUSXX as of Nov 5, 2026. On $10,000 that's about $396 vs $396 a year at today's rates.
How are VMFXX and VUSXX taxed?
VMFXX: A government money market fund: Treasuries, agency debt and repurchase agreements. Only the part earned from Treasuries is exempt from state tax, which the fund reports each year. VUSXX: A Treasury money market fund: Treasury bills and, for some, repurchase agreements backed by Treasuries. Most of its income is usually exempt from state income tax; the fund publishes the exact share each year. General information, not tax advice.
Related comparisons
Yields, costs and holdings as each fund reports them (via Yahoo Finance), updated daily; returns from month-end prices with distributions reinvested. VMFXX leads on 1 of 1 measures above. For information only, not investment advice. Last fund data: Nov 5, 2026.