High yield money market presents investors with greater opportunities to earn high profits at lesser risk. Yet, newcomers to the financial market can easily get confused with terms and will often mistake between the high yield money market account and the high yield market fund.

One type of investment instrument in the high yield money market is the money market mutual fund. These are offered to investors who seek for low risk investments but also want a high return. It is a fund where several debt investments are pooled together while allowing liquidity on the investments. Investors can easily withdraw the funds any time. Providers of money market funds must maintain the net asset value or NAV to $1 per share. A money market fund that has an NAV under $1 is called "breaking the buck" which is rare. In the last 20 years, there are only 2 instances when the market has failed to meet the $1 NAV - in 1994 and in 2008.

On the other hand, high yield money market account is a savings account that is liquid and earns interest but with limited withdrawal and check-writing capabilities. A minimum deposit is usually required to open such account. The rate offered in this account is variable, meaning the rates fluctuate over time. Aside from banks, credit unions also offer high yielding money market accounts. And with that, investors should check that the banks they applied an account from are insured by Federal Deposit Insurance Corporation (FDIC) and that the credit unions are insured by the National Credit Union Association (NCUA).

In choosing a high yield money market fund and account, the investor should consider the fees and expenses involved. Expenses should have a lower impact on the funds and must not exceed the interest earned. Monthly fees and other relevant expenses may hurt the fund and could produce a negative net effect on the funds. Yields should also be considered which come into a form of the interest rate. These rates reflect the probable earnings that would be returned to the investor for a certain period of time. The higher the rate of the account, the higher return can be expected.

Shopping for high yield money market accounts are best done online. With the growth of many online banks, it is easy to find financial institutions offering these investment tools. Also, the establishment of comparison sites allows investors to find financial institutions offering the best deals. These sites researches and collects data from the banks to compile large databases of bank information. These pieces of information are organized and put together to create a comparison chart with filtering capabilities. Investors searching for the best high yielding money market funds or accounts can easily find what they are looking for through these sites. Other than this, several tools are also available in websites like this that will aid the investors in determining their risk and their probable returns. Such tools include calculator tools and tutorials. Through these sites, investors can choose from a wide range of financial institutions, as well as a number of accounts available.