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Schwab Purchased Money Funds

Money funds designed to offer stability of capital, liquidity, and income.

  • A convenient way to access potentially higher yields on cash
  • Access to a range of taxable and tax-exempt money funds1
  • No transaction fees to buy or sell2
  • Minimum investment as low as $0*

Want to learn more?

Explore the details of Schwab Purchased Money Funds.

Distributions:
Schwab Money Funds pay dividends on the 15th of each month (or on the next business day, if the 15th is not a business day), except that in December dividends are paid on the last business day of the month.

Schwab Funds®Monthly Distribution Schedule

Performance data quoted represents past performance and is no guarantee of future results. For additional performance information, please visit www.schwabfunds.com.

Prime Money Funds3 (Taxable)

Prime Money Funds3 (Taxable)

 

 

Prime Money Funds³ (Taxable)
  • 7-day yield (with waivers) as of 05/01/20234
  • Minimum Initial Investment
  • Next Step
  • Schwab Value Advantage Money Fund® – Investor Shares (SWVXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.68%
  • Minimum Initial Investment
    $0*
  • Next Step
    Buy
  • Schwab Value Advantage Money Fund® – Ultra Shares (SNAXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.83%
  • Minimum Initial Investment
    $1,000,000
  • Next Step
    Buy

Government and Treasury Money Funds (Taxable)

Government and Treasury Money Funds (Taxable)

Government and Treasury Money Funds (Taxable)
  • 7-day yield (with waivers) as of 05/01/20234
  • Minimum Initial Investment
  •  Next Step
  • Schwab Government Money Fund – Investor Shares (SNVXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.50%
  • Minimum Initial Investment
    $0*
  •  Next Step
    Buy
  • Schwab Government Money Fund – Ultra Shares (SGUXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.65%
  • Minimum Initial Investment
    $1,000,000
  •  Next Step
    Buy
  • Schwab Treasury Obligations Money Fund – Investor Shares (SNOXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.53%
  • Minimum Initial Investment
    $0*
  •  Next Step
    Buy
  • Schwab Treasury Obligations Money Fund – Ultra Shares (SCOXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.68%
  • Minimum Initial Investment
    $1,000,000
  •  Next Step
    Buy
  • Schwab U.S. Treasury Money Fund – Investor Shares (SNSXX) 
  • 7-day yield (with waivers) as of 05/01/20234
    4.01%
  • Minimum Initial Investment
    $0*
  •  Next Step
    Buy
  • Schwab U.S. Treasury Money Fund – Ultra Shares (SUTXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.16%
  • Minimum Initial Investment
    $1,000,000
  •  Next Step
    Buy

Municipal Money Funds³ (Tax-Exempt)

Municipal Money Funds3 (Tax-Exempt)

 

 

Municipal Money Funds³ (Tax-Exempt)
  • 7-day yield (with waivers) as of 05/01/20234
  • 7-day Taxable Equivalent Yields5
  • Minimum Initial Investment
  • Next Step
  • Schwab Municipal Money Fund - Investor Shares (SWTXX) 
  • 7-day yield (with waivers) as of 05/01/20234
    3.30%
  • 7-day Taxable Equivalent Yields5
    5.57%
  • Minimum Initial Investment
    $0*
  • Next Step
    Buy
  • Schwab Municipal Money Fund - Ultra Shares (SWOXX)
  • 7-day yield (with waivers) as of 05/01/20234
    3.45%
  • 7-day Taxable Equivalent Yields5
    5.83%
  • Minimum Initial Investment
    $1,000,000
  • Next Step
    Buy
  • Schwab California Municipal Money Fund – Investor Shares (SWKXX)
  • 7-day yield (with waivers) as of 05/01/20234
    2.96%
  • 7-day Taxable Equivalent Yields5
    6.45%
  • Minimum Initial Investment
    $0*
  • Next Step
    Buy
  • Schwab California Municipal Money Fund – Ultra Shares (SCAXX)
  • 7-day yield (with waivers) as of 05/01/20234
    3.11%
  • 7-day Taxable Equivalent Yields5
    6.78%
  • Minimum Initial Investment
    $1,000,000
  • Next Step
    Buy
  • Schwab New York Municipal Money Fund – Investor Shares (SWYXX)
  • 7-day yield (with waivers) as of 05/01/20234
    3.25%
  • 7-day Taxable Equivalent Yields5
    6.44%
  • Minimum Initial Investment
    $0*
  • Next Step
    Buy
  • Schwab New York Municipal Money Fund – Ultra Shares (SNYXX)
  • 7-day yield (with waivers) as of 05/01/20234
    3.40%
  • 7-day Taxable Equivalent Yields5
    6.74%
  • Minimum Initial Investment
    $1,000,000
  • Next Step
    Buy
  • Schwab AMT Tax-Free Money Fund – Investor Shares (SWWXX)
  • 7-day yield (with waivers) as of 05/01/20234
    3.28%
  • 7-day Taxable Equivalent Yields5
    5.55%
  • Minimum Initial Investment
    $0*
  • Next Step
    Buy
  • Schwab AMT Tax-Free Money Fund – Ultra Shares (SCTXX)
  • 7-day yield (with waivers) as of 05/01/20234
    3.43%
  • 7-day Taxable Equivalent Yields5
    5.80%
  • Minimum Initial Investment
    $1,000,000
  • Next Step
    Buy

Variable Share Price Money Funds (Taxable)

Variable Share Price Money Funds (Taxable)

Variable Share Price Money Funds (Taxable)
  • 7-day yield (with waivers) as of 05/01/20234
  • Minimum Initial Investment
  • Next Step
  • Schwab Variable Share Price Money Fund™ – Ultra Shares (SVUXX)
  • 7-day yield (with waivers) as of 05/01/20234
    4.82%
  • Minimum Initial Investment
    $1,000,000
  • Next Step
    Buy

The Variable Share Price Money Fund is a prime taxable money fund intended for institutional accounts.

Schwab Sweep Money Funds

Schwab has eliminated sweep money market funds as a cash feature for most new and existing accounts. Limited accounts and account types may be eligible to have a money market fund as the designated cash feature. More complete information about all of Schwab’s available cash features can be found in the Cash Features Disclosure Statement.

Money fund investors should carefully consider information contained in the money fund prospectus, or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a mutual fund prospectus by calling Schwab at 1-800-435-4000. Please read the prospectus carefully before investing.

Looking for other cash solutions to help you reach your goals?

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*The Funds' Investor Shares have no initial investment minimum; however, Schwab systems require a minimum of $1 per trade. Minimums are subject to change.

  1. May be subject to state, local, and the Federal Alternative Minimum Tax. Capital gains are not exempt from Federal taxes.
  2. Fund expenses and other fees may apply.
  3. Qualifies as a “retail money market fund,” which means it is available for investment by natural persons only. The Fund reserves the right to do the following: involuntarily redeem a shareholder's shares after providing 60 days' written notice if the shareholder does not satisfy the eligibility requirements for a retail money market fund (i.e., the shareholder is not a natural person); and deny purchase of Fund shares to investors who do not satisfy the eligibility requirements to invest in a retail money market fund (i.e., investor is not a natural person).
  4. The 7-Day Yield is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of all applicable waivers. Absent such waivers, the fund’s yield would have been lower.
  5. Dividends from the Schwab Municipal Money Fund™ and the state specific funds typically are exempt from federal income tax; dividends from state specific funds typically are exempt from the respective state's income tax as well. A portion of these funds' income, however, may be subject to the federal alternative minimum tax (AMT). Dividends from the Schwab AMT Tax-Free Money Fund™, on the other hand, typically are exempt from federal income tax, including AMT.
    Schwab AMT Tax-Free Money Fund™ and Schwab Municipal Money Fund™: The taxable-equivalent yield assumes a federal regular income tax rate of 40.80%, which includes a Medicare surcharge rate of 3.8%. Your tax rate may be different.
    Schwab California Municipal Money Fund™: The taxable-equivalent yield assumes a federal regular income tax rate of 40.80%, which includes a Medicare surcharge rate of 3.8%, and California state personal income rate of 13.30%, which includes the 1% surcharge to fund mental health care. The combined rate of 54.10% takes into account that state income tax may not be deductible for Federal income tax purposes as a result of the 2018 tax law changes. Your tax rate may be different.
    Schwab New York Municipal Money Fund™: The taxable-equivalent yield assumes a federal regular income tax rate of 40.80%, which includes a Medicare surcharge rate of 3.8%, and New York state personal income rate of 8.82%. The combined rate of 49.62% takes into account that state income tax may not be deductible for Federal income tax purposes as a result of the 2018 tax law changes. Your tax rate may be different.
    Taxable equivalent yield represents the pretax, effective yield an investor would need to get from a taxable investment in order to match the yield paid by a given tax-exempt investment.

All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund: You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab Government Money Market Portfolio, Schwab U.S. Treasury Money Fund, and Schwab Treasury Obligations Money Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund's liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time.

Schwab Variable Share Price Money Fund: You could lose money by investing in Schwab Variable Share Price Money Fund. Because the share price of the Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. The Fund may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Fund sponsor has no legal obligation to provide financial support to the Fund, and you should not expect that the sponsor will provide financial support to the Fund at any time.

Charles Schwab & Co., Inc. (“Schwab”) and Charles Schwab Bank are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation (“Charles Schwab”). Brokerage products, including the Schwab One® brokerage account, are offered by Schwab, Member SIPC. Deposit and lending products and services, including the High Yield Investor checking account, are offered by Charles Schwab Bank, Member FDIC and an Equal Housing Lender.

Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab Funds, and Schwab, Member SIPC, the distributor for Schwab Funds, are separate but affiliated companies and subsidiaries of Charles Schwab.

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Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

The Charles Schwab Corporation provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (Member SIPC), offers investment services and products, including Schwab brokerage accounts. Its banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides deposit and lending services and products. Access to Electronic Services may be limited or unavailable during periods of peak demand, market volatility, systems upgrade, maintenance, or for other reasons.

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