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Accounts & Products
 

Schwab Purchased Money Funds

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Schwab Purchased Money Funds are designed to offer stability of capital, liquidity, and current income.

You'll get:

  • A convenient way to access higher yields on cash (see rates for cash products at Schwab)
  • Access to a range of taxable and tax-exempt money funds1
  • No transaction fees to buy or sell2
  • Minimum investment as low as $1*

Schwab Purchased Money Funds

Prime Money Funds3 (Taxable)
Fund Name 7-day yield (with waivers) as of 11/17/20174 Minimum Initial Investment Next Step
Schwab Value Advantage Money Fund® Share Classes
Investor Shares (SWVXX) 0.99% $1* Buy
Ultra Shares (SNAXX) 1.14% $1,000,000 Buy
Government and Treasury Money Funds (Taxable)
Fund Name 7-day yield (with waivers) as of 11/17/20174 Minimum Initial Investment Next Step
Schwab Government Money Fund – Investor Shares (SNVXX) 0.75% $1* Buy
Schwab Treasury Obligations Money Fund – Investor Shares (SNOXX) 0.75% $1* Buy
Municipal Money Funds3 (Tax-Exempt)
Fund Name 7-day yield (with waivers) as of 11/17/20174 Taxable Equivalent Yields5 Minimum Initial Investment Next Step
Schwab Municipal Money Fund Share Classes
Investor Shares (SWTXX) 0.64% 1.14% $1* Buy
Ultra Shares (SWOXX) 0.79% 1.41% $1,000,000 Buy
Schwab California Municipal Money Fund – Investor shares (SWKXX) 0.60% 1.23% $1* Buy
Schwab New York Municipal Money Fund – Investor Shares (SWYXX) 0.63% 1.22% $1* Buy
Schwab AMT Tax-Free Money Fund – Investor Shares (SWWXX) 0.63% 1.12% $1* Buy
Variable Share Price Money Funds (Taxable)
Fund Name 7-day yield (with waivers) as of 11/17/20174 Minimum Initial Investment Next Step
Schwab Variable Share Price Money Fund – Ultra Shares (SVUXX) 1.14% $1,000,000 Buy
The Variable Share Price Money Fund is a prime taxable money fund intended for institutional accounts.

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.

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

  1. 1. May be subject to state, local, and the Federal Alternative Minimum Tax. Capital gains are not exempt from Federal taxes.
  2. 2. Fund expenses and other fees may apply.
  3. 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. 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. In addition to the contractual expense limitation discussed in the prospectus, the investment advisor and/or its affiliates may voluntarily waive and/or reimburse expenses in excess of their current fee waiver and reimbursement commitment to the extent necessary to maintain a positive net yield (in the case of Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund, Schwab Government Money Fund and Schwab Retirement Government Money Fund, a nonnegative net yield).
  5. 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 43.40%, 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 43.40%, which includes a Medicare surcharge rate of 3.8%, and effective California state personal income rate of 7.53%. Your tax rate may be different.
    Schwab New York Municipal Money Fund: The taxable-equivalent yield assumes a federal regular income tax rate of 43.40%, which includes a Medicare surcharge rate of 3.8%, and effective New York state personal income rate of 4.99%. 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 a money market fund. Money market funds 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 U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund, Schwab Government Money Market Portfolio, and Schwab Retirement Government 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 a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's 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.

Schwab Variable Share Price Money Fund: You could lose money by investing in a money market 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’s 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.