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Money market fund at Merrill Edge?

In today's zero rate environment, are there any acceptable money market funds at Merrill Edge? My goal is a temporary parking place and preservation of principal. I would also consider high quality ETFs with a record of stable prices. Thanks in advance.


  • edited April 2020
    I have Merrill Edge. If there is one, they are making a good job of hiding it. Frankly as I mentioned on another thread, I've resorted to learning how PUT options work and selling "way out of the money puts". I'm getting comfortable with doing so and really, really close to ditching even RPHYX and RSIVX as well.

    I'm expecting very very low yield environment. Election year, stock market has to be pumped up, Corona is not a beer anymore, and fed doubled down on printing money = rates going to zero.
  • If you've got $100K in cash, Merrill provides access to some institutional funds. Even these are pretty anemic, struggling to get up to 1/4%, unless you're willing to try one of the floating NAV money market funds created specifically for institutions. They'll get you all the way up to about 2/3%.

    If all you've got is $5,000 for a MMF, they'll sell you a fixed $1.00 NAV fund (BPTXX) paying a nice round number, zero exactly! And that's for a non-sweep fund.

    Here's the rate sheet:
  • Thanks, VintageFreak and msf. You're both right. The Fed doesn't want us to "not invest." So I believe I'll keep proceeds from two sales I made today in FDIC insured cash account while I wait.
  • If you are comfortable w the possibility of a smidgen of loss you can buy SHY and SHV and ML (or elsewhere w free trading), and do better than MINT and GSY depending on time period.
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