Designed for your short-term needs, purchased money market funds are a convenient way to produce income. They offer greater liquidity than CDs† and generally provide higher yields than sweep money market funds. Keep in mind that performance data quoted below represents past performance and does not indicate future results. Current performance may be lower or higher.
Effective Yield: Yield if fund dividends are reinvested in additional fund shares vs. being paid in cash.
Current 7-Day Yield: The yield you are currently earning if dividends are paid in cash and are not reinvested.
Investment Minimums: The initial minimum investment is the amount required to make an initial purchase into a fund or share class. The minimum balance is the amount required to keep a position in the fund without incurring a penalty.
OER (operating expense ratio): The amount that is taken from a mutual fund's assets each year to cover the fund's operating expenses. An expense ratio of 0.50% means that a fund's annual expenses amount to half of one percent of its average net assets.
Tax-Exempt Purchased Money Market Funds5
7-Day Yields as of 02/08/2010
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Fund Name: Fund Name and Symbol
Effective Yield: Yield if fund dividends are reinvested in additional fund shares vs. being paid in cash.
Current 7-Day Yield: The yield you are currently earning if dividends are paid in cash and are not reinvested.
Investment Minimums: The initial minimum investment is the amount required to make an initial purchase into a fund or share class. The minimum balance is the amount required to keep a position in the fund without incurring a penalty.
OER (operating expense ratio): The amount that is taken from a mutual fund's assets each year to cover the fund's operating expenses. An expense ratio of 0.50% means that a fund's annual expenses amount to half of one percent of its average net assets.
Taxable Equivalent Yield: The yield that taxable investments must earn, with taxes taken into account, to match a tax-exempt investment's yield. This may be helpful in determining whether tax-exempt funds are an appropriate investment.
If you have larger sums of cash to invest, these taxable and tax advantaged funds might be of interest to you.
7-Day Yields as of 02/08/2010
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Roll over blue arrows for definitions.
Fund Name: Fund Name and Symbol
Effective Yield: Yield if fund dividends are reinvested in additional fund shares vs. being paid in cash.
Current Yield With Waiver: The yield you are currently earning if dividends are paid in cash and are not reinvested. Charles Schwab Investment Management waives a portion of the fund's fees in order to deliver more competitively priced products to its shareholders.
Current Yield Without Waiver: The yield if dividends are paid in cash and not reinvested. Yield excludes benefits of fund expense waiver currently provided by Charles Schwab Investment Management.
Investment Minimums: The initial minimum investment is the amount required to make an initial purchase into a fund or share class. The minimum balance is the amount required to keep a position in the fund without incurring a penalty.
OER (operating expense ratio): The amount that is taken from a mutual fund's assets each year to cover the fund's operating expenses. An expense ratio of 0.50% means that a fund's annual expenses amount to half of one percent of its average net assets.
Taxable Equivalent Yield: The yield that taxable investments must earn, with taxes taken into account, to match a tax-exempt investment's yield. This may be helpful in determining whether tax-exempt funds are an appropriate investment.
Money Market Funds for Corporate and Retirement Services Only
7-Day Yields as of 02/08/2010
Learn More
Roll over blue arrows for definitions.
Fund Name: Fund Name and Symbol
Effective Yield: Yield if fund dividends are reinvested in additional fund shares vs. being paid in cash.
Current Yield With Waiver: The yield you are currently earning if dividends are paid in cash and are not reinvested. Charles Schwab Investment Management waives a portion of the fund's fees in order to deliver more competitively priced products to its shareholders.
Current Yield Without Waiver: The yield if dividends are paid in cash and not reinvested. Yield excludes benefits of fund expense waiver currently provided by Charles Schwab Investment Management.
Investment Minimums: The initial minimum investment is the amount required to make an initial purchase into a fund or share class. The minimum balance is the amount required to keep a position in the fund without incurring a penalty.
OER (operating expense ratio): The amount that is taken from a mutual fund's assets each year to cover the fund's operating expenses. An expense ratio of 0.50% means that a fund's annual expenses amount to half of one percent of its average net assets.
Taxable Equivalent Yield: The yield that taxable investments must earn, with taxes taken into account, to match a tax-exempt investment's yield. This may be helpful in determining whether tax-exempt funds are an appropriate investment.
PLEASE READ THE IMPORTANT DISCLOSURES BELOW
Performance data quoted represents past performance and does not indicate future results.
† Unlike mutual funds, certificates of deposit offer a fixed rate of return and are FDIC- insured.
These investments have higher minimum initial and ongoing balance requirements than sweep funds. These requirements, along with policies designed to discourage frequent transactions, can help minimize fund expenses—which can mean higher returns for you. Please remember that purchased money market funds cannot be linked to your Schwab account to cover your daily cash needs.
Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can view, download and print a prospectus by clicking on Prospectuses & Reports. Please read the prospectus carefully before investing.
1. Other minimums, such as subsequent investment minimums applicable to additional purchases into the fund, apply as outlined in the prospectus.
2. With the exception of the Select, Institutional and Institutional Prime Shares, Schwab and the investment advisor have agreed to limit the "net operating expenses" as stated in the prospectus for each fund, for so long as the investment adviser serves as the adviser to the fund. This agreement may only be amended or terminated with the approval of the fund's Board of Trustees. The limitation excludes any non-routine expenses, such as taxes, expenses for dividends, and interest paid on securities sold short, which may result in a fund incurring net operating expenses above the limitation. For funds with Select, Institutional and Institutional Prime Shares, Schwab and the investment advisor have agreed to limit the “net operating expenses” (excluding interest, taxes, costs of participating in the U.S. Treasury Temporary Guarantee Program for Money Market Funds and certain non-routine expenses) to 0.35% for the Select Shares, 0.24% for the Institutional Shares and 0.21% for the Institutional Prime Shares through 4/29/2011. Please see the prospectus for more details.
Expense ratios for certain Schwab Money Market Funds may reflect a non-routine expense as a result of participation in the U.S. Treasury Temporary Guarantee Program.
3. Participants in employer-sponsored retirement plans (for example, a 401K) invested in the Schwab Investor Money Fund may qualify for lower investment minimums. All other investors are subject to the $2,500 minimum initial investment, $500 minimum additional investment and $2,500 minimum balance requirement as outlined in the fund's prospectus.
4. If client's balance drops below the fund's required minimum/maintenance minimum the client will be assessed a $5 monthly fee that is automatically debited from their account.
5. Dividends from the Schwab Municipal Money Fund™ and the state specific funds are exempt from federal income tax; dividends from state specific funds 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, are exempt from federal income tax and are also exempt from the federal alternative minimum tax (AMT).
6. If client's balance drops below the fund's required minimum/maintenance minimum, the client will be sent a letter, given 60 days to meet the required balance or face liquidation of fund shares.
7. Schwab and the investment adviser have voluntarily waived and/or reimbursed expenses in excess of their current contractual commitment in an effort to maintain certain net yields for the fund. These voluntary waivers and reimbursements may be modified or terminated at any time, and are subject to future recapture by Schwab and the investment adviser. Fee waivers and/or expense reimbursements (whether contractual or voluntary) have the effect of increasing the fund's net yield and without such fee waivers and/or expense reimbursements, the fund's 7-day yield would have been lower. Please see the prospectus for more details.
An investment in a money market fund is neither insured nor guaranteed by the FDIC or any other government agency. Yields will fluctuate, and although the fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in the fund. The 7-day yields more closely reflect the current earnings of the fund than the total return.
Trades in no-load mutual funds available through Mutual Funds OneSource service (including Schwab Funds) as well as certain other funds, are available without transaction fees when placed through schwab.com or our automated phone channels. For each of these trade orders placed through a broker, a $25 service charge applies. Schwab reserves the right to change the funds we make available without transaction fees and to reinstate fees on any funds. Funds are also subject to management fees and expenses.
Distributor: Charles Schwab & Co., Inc. 101 Montgomery Street, San Francisco, CA 94104
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