Money Market Funds (2024)

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7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴

5.02%

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Minimum Initial Investment

$0*

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Eligible Investors³

Retail/Institutional

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Next Step

>

• Schwab Government Money Fund – Ultra Shares (SGUXX)

  >

• 7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴

  5.17%

  >

• Minimum Initial Investment

  $1,000,000

  >

• Eligible Investors³

  Retail/Institutional
  

  >

• Next Step

  Buy

  See Also

  Are Money Market Accounts Safe?

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  • Schwab Treasury Obligations Money Fund – Investor Shares (SNOXX)

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  • 7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴

    5.02%

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  • Minimum Initial Investment

    $0*

    >

  • Eligible Investors³

    Retail/Institutional
    

    >

  • Next Step

    Buy

    >

    • Schwab Treasury Obligations Money Fund – Ultra Shares (SCOXX)

      >

    • 7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴

      5.16%

      >

    • Minimum Initial Investment

      $1,000,000

      >

    • Eligible Investors³

      Retail/Institutional
      

      >

    • Next Step

      Buy

      >

      • Schwab U.S. Treasury Money Fund – Investor Shares (SNSXX)

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      • 7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴

        5.01%

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      • Minimum Initial Investment

        $0*

        >

      • Eligible Investors³

        Retail/Institutional
        

        >

      • Next Step

        Buy

        >

        • Schwab U.S. Treasury Money Fund – Ultra Shares (SUTXX)

          >

        • 7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴

          5.16%

          >

        • Minimum Initial Investment

          $1,000,000

          >

        • Eligible Investors³

          Retail/Institutional
          

          >

        • Next Step

          Buy

          >

      Municipal Money Funds³ (Tax-Exempt)

      Municipal Money Funds³(Tax-Exempt)

      These funds invest in short-term municipal money marketsecurities issued by states, local governments, and othermunicipal agencies.

      Municipal Money Funds³ (Tax-Exempt)

      • 7-day yield (with waivers) as of
        12:00 AM EDT 05/22/2024^{4, 5}
      • Minimum Initial Investment
      • Eligible Investors³
      • Next Step

      • Schwab Municipal Money Fund - Investor Shares (SWTXX)

        >

      • 7-day yield (with waivers) as of
        12:00 AM EDT 05/22/2024^{4, 5}

        3.56%

        >

      • Minimum Initial Investment

        $0*

        >

      • Eligible Investors³

        Retail
        

        >

      • Next Step

        Buy

        >

        • Schwab Municipal Money Fund - Ultra Shares (SWOXX)

          >

        • 7-day yield (with waivers) as of
          12:00 AM EDT 05/22/2024^{4, 5}

          3.71%

          >

        • Minimum Initial Investment

          $1,000,000

          >

        • Eligible Investors³

          Retail
          

          >

        • Next Step

          Buy

          >

          • Schwab California Municipal Money Fund – Investor Shares (SWKXX)

            >

          • 7-day yield (with waivers) as of
            12:00 AM EDT 05/22/2024^{4, 5}

            3.26%

            >

          • Minimum Initial Investment

            $0*

            >

          • Eligible Investors³

            Retail
            

            >

          • Next Step

            Buy

            >

            • Schwab California Municipal Money Fund – Ultra Shares (SCAXX)

              >

            • 7-day yield (with waivers) as of
              12:00 AM EDT 05/22/2024^{4, 5}

              3.41%

              >

            • Minimum Initial Investment

              $1,000,000

              >

            • Eligible Investors³

              Retail
              

              >

            • Next Step

              Buy

              >

              • Schwab New York Municipal Money Fund – Investor Shares (SWYXX)

                >

              • 7-day yield (with waivers) as of
                12:00 AM EDT 05/22/2024^{4, 5}

                3.56%

                >

              • Minimum Initial Investment

                $0*

                >

              • Eligible Investors³

                Retail
                

                >

              • Next Step

                Buy

                >

                • Schwab New York Municipal Money Fund – Ultra Shares (SNYXX)

                  >

                • 7-day yield (with waivers) as of
                  12:00 AM EDT 05/22/2024^{4, 5}

                  3.71%

                  >

                • Minimum Initial Investment

                  $1,000,000

                  >

                • Eligible Investors³

                  Retail
                  

                  >

                • Next Step

                  Buy

                  >

                  • Schwab AMT Tax-Free Money Fund – Investor Shares (SWWXX)

                    >

                  • 7-day yield (with waivers) as of
                    12:00 AM EDT 05/22/2024^{4, 5}

                    3.58%

                    >

                  • Minimum Initial Investment

                    $0*

                    >

                  • Eligible Investors³

                    Retail
                    

                    >

                  • Next Step

                    Buy

                    >

                    • Schwab AMT Tax-Free Money Fund – Ultra Shares (SCTXX)

                      >

                    • 7-day yield (with waivers) as of
                      12:00 AM EDT 05/22/2024^{4, 5}

                      3.73%

                      >

                    • Minimum Initial Investment

                      $1,000,000

                      >

                    • Eligible Investors³

                      Retail
                      

                      >

                    • Next Step

                      Buy

                      >

                  Variable Share Price Money Funds (Taxable)

                  Variable Share Price Money Funds (Taxable)

                  Designed primarily for institutional investors. This fund invests in taxable short-term obligations issued by corporations and banks, as well as repurchase agreements and asset-backed commercial paper.

                  Variable Share Price Money Funds (Taxable)

                  • 7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴
                  • Minimum Initial Investment
                  • Eligible Investors³
                  • Next Step

                  • Schwab Variable Share Price Money Fund™– Ultra Shares (SVUXX)

                    >

                  • 7-day yield (with waivers) as of 12:00 AM EDT 05/22/2024⁴

                    5.23%

                    >

                  • Minimum Initial Investment

                    $1,000,000

                    >

                  • Eligible Investors³

                    Retail/Institutional
                    

                    >

                  • Next Step

                    Buy

                    >

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

                Want to learn more?

                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

                Explore the details of Schwab Money Funds and Schwab Money Funds Commentary

                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 theCash Features Disclosure Statement.

                • Retail Investors can invest in retail money market funds, which are defined as funds with policies and procedures that limit beneficial ownership to those investors deemed as "natural persons."
                • Institutional Investors are eligible to invest in institutional money market funds with a variable net asset value (VNAV). Retail Investors may also choose to invest in these funds.
                • Both Retail and Institutional Investors are eligible to invest in government money market funds.

                • Designed to provide a convenient way to access potentially higher yields on cash
                • Most have no investment minimums
                • No transaction fees
                • Solutions for both retail and institutional account types
                • Extensive credit research and professional money management

                Money market funds can be bought and sold in most brokerage and retirement accounts and are treated similarly to how other mutual funds are traded.

                Prime Money Market Funds primarily invest in taxable short-term obligations issued by corporations and banks, as well as repurchase agreements and asset-backed commercial paper. Prime MMFs are considered retail money funds and are only available to natural persons.

                Government and Treasury Money Market Funds primarily invest in short-term U.S. government debt securities. Treasury money market funds typically limit their holdings to only U.S. Treasury obligations or repurchase agreements collateralized by U.S. Treasury securities. Government and Treasury MMFs are available to all investors.

                Municipal Money Market Fundsprimarily invest in short-term municipal money market securities issued by states, local governments, and other municipal agencies. Municipal MMFs pay interest that is generally exempt from federal income tax. Municipal MMFs are considered retail money funds and are only available to natural persons.

                Variable Share Price Prime Money Market Funds are designed for institutional investors but are available to all investors. These funds invest in taxable short-term obligations issued by corporations and banks, as well as repurchase agreements and asset-backed commercial paper. Daily share price (net asset value, NAV) will fluctuate.

                The main differences between the types of money market funds are what each fund is allowed to invest in (i.e., the investible universe), and the corresponding regulatory rules applicable to each sector, which can affect the yield the portfolio generates. A prime money fund invests primarily in taxable short-term obligations issued by corporations and banks, as well as repurchase agreements and asset-backed commercial paper. Government and Treasury funds invest primarily in short-term U.S. government debt securities. Treasury money market funds typically limit their holdings to only U.S. Treasury obligations or repurchase agreements collateralized by U.S. Treasury securities. Municipal money market funds invest primarily in short-term, municipal money market securities issued by states, local governments, and other municipal agencies. They pay interest that is generally exempt from federal income tax. Go here for a list of current money market fund options and yields.

                Accounts of Charles Schwab & Co., Inc. are insured by SIPC for securities and cash in the event of broker-dealer failure. The Schwab Money Funds are protected as securities by SIPC.Below is a link to information that can be shared with the client atschwab.com.

                Additional information on SIPC:SIPC^® Account Protection: Charles Schwab: Asset Protection

                Schwab Money Funds are quoted with a 7-day yield. A money fund's 7-day yield fluctuates based on several factors, including the current interest rate environment. Go here for a list of current money market fund options and 7-day yields.

                Money market fund yields can be affected by multiple variables that may be sector-specific, including supply/demand dynamics, regulatory requirements, and eligibility rules. For more information, go here to see Schwab's current money market fund options and yields.

                Yes. Yields often fluctuate based on several factors, including the current interest rate environment and the fund's underlying holdings. Go here for a list of current money market fund options and yields.

                The 7-Day Yield represents the annualized fund yield based on 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.

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