The Fidelity Government Money Market Fund is not covered by FDIC insurance and therefore subject to market risk. However, as a security in your account, the fund is covered by Securities Investor Protection Corporation (SIPC). SIPC is a nonprofit organization that protects stocks, bonds, and other securities in case a brokerage firm goes bankrupt and assets are missing. The SIPC will cover up to $500,000 in securities, including a $250,000 limit for cash held in a brokerage account such as the Fidelity Cash Management Account. To learn more, visit https://www.fidelity.com/why-fidelity/safeguarding-your-accounts.