SPY & Retail Money Market Funds
Assets held in retail money market funds, representing individual investor cash holdings.
SPY Price
Retail Money Market Fund Assets
Retail MMF Year-over-Year Growth
What It Measures
Retail Money Market Funds measures the assets held in money market funds marketed to individual investors (as opposed to institutional MMFs). The data is: - Collected weekly by the Investment Company Institute (ICI) - Published as part of the Fed's H.6 Money Stock release - A component of M2 money supply Retail MMFs typically have lower minimum investments and are held through brokerage accounts, bank platforms, and direct fund purchases.
Why It Matters
**Consumer Cash Proxy**: Shows how much cash individual investors are holding in safe, liquid investments. **M2 Component**: Retail MMFs are included in the M2 money supply measure. **Sentiment Indicator**: Rising retail MMF assets may indicate cautious consumer sentiment. **Rate Sensitivity**: Retail investors are highly responsive to MMF yield changes vs bank savings rates.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-01-22)
MMF Retail: WRMFNS - Retail Money Market Funds from Federal Reserve / Investment Company Institute
Units: , ,