> For the complete documentation index, see [llms.txt](https://docs.yield.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.yield.fi/vault-types.md). # Vault Types YieldFi lets you launch and distribute a full spectrum of **tokenized yield vaults**—from cash-management to hedge-fund style strategies—without rebuilding fund plumbing. Below are example product categories you can create on YieldFi, each backed by **real-time analytics** (NAV, APY history, TVL, exposure, liquidity ladder, proof of reserves, VaR/CVaR) and **institutional rails** (custody and controlled execution account structures). ### **Treasury Vaults** Ideal for corporates and DAO treasuries that want a conservative, cash-like allocation with **same-day liquidity**. Returns are linked to **T-Bill yields**, targeting **3%–4%** with a **stable NAV objective** and virtually no drawdowns. ### **Lending Vaults** Serves the same treasury audience but target a higher yield band by allocating to **blue-chip lending markets** such as Aave V4, Morpho, Euler, Maple etc. These vaults aim for **6%–8%** yield with **same-day liquidity** and a stable NAV objective with virtually no drawdowns. ### **Fixed Yield Vaults** They are cash-management style products for startups, SMEs, family offices, and HNWI seeking predictable returns with **<2-day liquidity**. They typically target **\~10%** yield with a stable NAV objective and virtually no drawdowns. ### **Market Neutral Vaults** Suited for allocators who want higher yields without directional exposure. Strategies include **basis/funding, arbitrage, RWA yield, lending/looping, private LP deals etc**, aiming for **12%–15%** yield with **tight risk controls**, a stable NAV objective and virtually no drawdowns. ### **Directional Strategy Vaults** Built for higher-risk mandates where trading teams deploy their strategies that mirrors how they typically run **SMA (separately managed account) mandates** for capital allocators—except packaged into a **tokenized vault** with automated accounting and transparent reporting, targeting **30%–35% yield**, with **defined risk controls** and drawdowns typical capped at 5-10%. Together, these categories cover most of the “yield” universe—cash management, credit-like lending, market neutral, and directional alpha. What’s intentionally left out from the broader capital-markets set are **pure equity index funds, long-duration bond funds, venture/private equity funds, distressed/activist strategies, commodity/real estate direct ownership vehicles, and highly illiquid private credit structures**—products where liquidity, valuation cadence, and legal wrappers typically require different market infrastructure than yield-first vaults.