Retail Money Market Funds
Retail money market funds measure assets in funds marketed to individual investors, as distinct from institutional MMFs. Collected weekly by the ICI and published in the Fed's H.6 release, it is a component of M2 and a direct read on how much cash households are holding in safe, liquid investments through brokerage and bank platforms.
Latest reading
As of May 4, 2026, Retail MMF (Retail MMF assets ($B)) stands at 2K — down from 2K the prior reading. Use the 4-week average to filter weekly noise, since large fund flows can distort any single week. Rising retail balances tend to reflect cautious sentiment or attractive MMF yields relative to bank savings rates; retail investors are highly rate-sensitive, so the 2022-24 hiking cycle drove steady inflows past $2 trillion. Retail is roughly a third of total MMF assets, and institutional behavior often diverges. Series history runs from 1993 to present.
Retail MMF assets ($B)
Next release: Jun 23, 2026
Full history
How to read it
Use the 4-week average to filter weekly noise, since large fund flows can distort any single week. Rising retail balances tend to reflect cautious sentiment or attractive MMF yields relative to bank savings rates; retail investors are highly rate-sensitive, so the 2022-24 hiking cycle drove steady inflows past $2 trillion. Retail is roughly a third of total MMF assets, and institutional behavior often diverges.
Methodology & data
Retail MMF is sourced from Fed via the Federal Reserve's FRED service (Federal Reserve/ICI via FRED (WRMFNS), weekly, $ billions). We pull the complete history, chart it on a weekly basis, overlay SPY for context, and generate a dated plain-English reading from the latest release — with no smoothing or adjustment beyond what the chart legend states.
Every reading is stamped with its release date, last updated 2026-06-09. See our methodology for the standards every series on the site is held to.
- Category
- Money & Credit
- Frequency
- Weekly
- Source
- Fed
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Frequently asked questions
What is the Retail Money Market Funds?
Retail money market funds measure assets in funds marketed to individual investors, as distinct from institutional MMFs. Collected weekly by the ICI and published in the Fed's H.6 release, it is a component of M2 and a direct read on how much cash households are holding in safe, liquid investments through brokerage and bank platforms.
How do you read Retail MMF?
Use the 4-week average to filter weekly noise, since large fund flows can distort any single week. Rising retail balances tend to reflect cautious sentiment or attractive MMF yields relative to bank savings rates; retail investors are highly rate-sensitive, so the 2022-24 hiking cycle drove steady inflows past $2 trillion. Retail is roughly a third of total MMF assets, and institutional behavior often diverges.
Where does the Retail MMF data come from?
Federal Reserve/ICI via FRED (WRMFNS), weekly, $ billions. We chart the full history and publish a dated, plain-English reading with every release; the raw series is downloadable as CSV at /data/indicators/retail-money-market-funds.csv.
How often is Retail MMF updated?
Retail MMF is a weekly series from Fed, refreshed here as soon as a new release posts to FRED.