I was reading about Vanguard's Prime Money Market Fund, VMMXX, whose investments are characterized thusly by Investopedia:
The holdings include U.S. Treasury bills (T-bills) with a 24.1% portfolio weighting, U.S. government obligations at 11.8%, U.S. commercial paper at 4.2%, certificates of deposit (CDs) at 10.6%, and Yankee/foreign obligations at 47.8%.
So it's largely bonds. That said, I am confused as to why the Morningstar portfolio summary for VMMXX describes it as 16% bonds and 81% cash.
Is it just inaccurate site lacking in details, or am I misunderstanding what it's telling me? I have always used it for a quick glance at what a certain fund's holdings are made of.