I recently opened a fidelity roth IRA and added funds to it, after buying 3 index.
I notice that it says my core position is SPAXX - FIDELITY GOVERNMENT MONEY MARKET, which states it is FDIC - FDIC-Insured Deposit Sweep Program
An interest-bearing position that is eligible for FDIC insurance.
The OTHER option is FDRXX - Fidelity® Government Cash Reserves
Your cash is invested in a mutual fund and earns daily dividends, which are paid to you monthly.
Can you explain these options and which is better?