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Fidelity Tax-Exempt Money Market Fund - Daily Money Class FDEXX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | FDEXX | Replication |
|---|---|---|
| Annualized growth | 1.9% | 3.8% |
| Annualized volatility | 0.1% | 0.2% |
| Sharpe ratio | 13.41 | 15.80 |
| Maximum drawdown | 0.0% | 0.0% |
| Replication fit (R²) | 0.04 · Tracking error 0.1% | |
Replication portfolio
The published portfolio below is the investable basket used to model FDEXX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| USFR | FI · Floating Rate Notes | 50.4% |
| BIL | FI · Ultra-Short | 49.6% |