Comment by js2

Ally Savings right now is 4.2%. Their high-yield 6 month CD is 5%. Both are subject to state and federal income tax.

FDLXX 7-day yield is 4.93%. 99.5% exempt from state income tax.

The most recent 4-week treasury is 5.24%. Exempt from state income tax.

There is very very slightly more risk in the FDLXX MMF than a savings account.

I started using Fidelity as my primary "bank" years ago and haven't looked back.