This site displays yields for numerous money market and bond funds. Optionally enter your tax data below to see tax-equivalent yields. Visit the Help tab for more details.




This site aggregates data on certain money market and bond funds from Fidelity, Schwab and Vanguard. Most importantly, it displays standardized measures of yields, including tax-equivalent yields.

The 7-day yield is a standard measure of the yield of a money market fund. It takes the gain of the fund over the last seven days and annualizes it; i.e., it extrapolates the gains of the last seven days to what you would see over an entire year. It is net of expenses.

The 30-day yield is very similar to the 7-day yield, except instead of using the last seven days, it uses the last 30 days. It is a standard measure of the yield of a bond fund.

Tax-Equivalent Yield

Different funds are taxed differently. For example, the Vanguard California Money Market Fund is free of state and federal taxes if you are a California taxpayer. In contrast, the Vanguard Treasury Money Market fund is free of state taxes, but fully taxable at the federal level. And other funds may be fully taxable both federally and at the state level.

The tax-equivalent yield of a fund lets you compare funds that are taxed differently on an apples-to-apples basis. It lets you see which would earn you more on an after-tax basis. The tax-equivalent yield of a fund is the yield you would need to earn on a fully taxable fund, in order to get the same after-tax yield as the given fund.

As an example, suppose you are a Califonia taxpayer in the 37% federal tax bracket and the 10.3% state tax bracket. Suppose the 7-day yield of the California Money Market Fund is 2%. On a fully taxable fund you would be taxed at a rate of 0.37 + 0.103. (Technical note: we are assuming you do not itemize deductions.) If F is the 7-day yield on that fund, then your after-tax yield on that fund is F * (1 - 0.37 - 0.103). For our calculations, we want to set the after-tax yield of this fund equal to 2%, so we have F * (1 - 0.37 - 0.103) = 0.02. Dividing through, we get that the pre-tax yield of the fund must be 0.02 / (1 - 0.37 - 0.103) which is 0.03795. So the tax-equivalent yield of the California Money Market Fund, for you, is 3.795%.

The tax-equivalent yield of a fund depends on information about you, principally your tax brackets. Fill in the form at the top of the screen in order to see tax-equivalent yields. Your taxable income, filing status, and state let us determine your state and federal marginal tax brackets. Your investment income lets us see if you are subject to the Net Investment Income Tax (NIIT).

We are using the 2023 tax brackets for our calculations. Yields are scraped from the websites of Fidelity, Schwab and Vanguard.

User Interface

Please click on the sort icon () next to the column header to sort on that column.

You must fill in the form at the top to see tax-equivalent yields.


We can only calculate state taxes for California and New York currently.

We do not take account of the federal tax deduction you may be entitled to for state and local taxes (which is limited to $10,000 in any case).

We do not take the Alternative Minimum Tax (AMT) into account.


The data you enter into the website is kept in your browser and never sent to our servers.