Things on this page are fragmentary and immature notes/thoughts of the author. Please read with your own judgement!
Mutual fund orders are executed once per day, after the market close at 4 p.m. Eastern Time.
Orders can be placed to either buy or sell and can be made through a brokerage, advisor, or directly through the mutual fund.
The shares of mutual funds are very liquid, easily traded, and can be bought or sold on any day the market is open.
An order will be executed at the next available net asset value (NAV), which is determined after the market close each trading day.
When thinking about price, investors need to take into account the fees and sales loads associated with funds.
A money market fund is a special class of mutual funds which is designed to offer stability of capital, liquidity, and income. Money market funds usually have relatively low expense ratio compared to other types of mutual funds. There are ETF alternatives to money market funds. However, you have to cautious about the ex-dates of ETFs focusing on dividends. Taking those into consideration, ETFs focusing on dividens are not necessarily more liquidity than MMFs.
Vanguard Federal Money Market Fund (ticker: VMFXX) 0.11%
Fidelity Money Market Fund (SPRXX) 0.42%
Schwab Municipal Money Fund - Investor Shares (SWTXX) 0.34%
North Capital Treasury Money Market Fund (NCGXX) 0%
iShares 0-3 Month Treasury Bond ETF (SGOV) (a good ETF alternative to money market funds)
PGIM Ultra Short Bond ETF (PULS)
Charles Schwab - Money Fund Yields
References¶
When Are Mutual Fund Orders Executed? https://www.investopedia.com/ask/answers/110615/when-are-mutual-fund-orders-executed.asp#:~:text=Whether you are buying or,directly through the mutual fund.