Charles Schwab Money Market Rates
With today’s high interest rates, money market mutual funds are worth looking at. Charles Schwab has many options, and some have very low fees. Here’s a look at them:
Researching Money Market Funds at Schwab
Finding money market mutual funds on the Charles Schwab website is simple. To find them, go to the Research tab at the top of the site and choose Money Market Funds from the drop-down menu.
The next page gives details on the pros and cons of these short-term investments. Farther down the page, you’ll see a list of Schwab’s money market funds. The funds are grouped into four categories: Prime, Government and Treasury, Municipal, and Variable Share Price. Three types are taxable. Municipal funds have tax benefits at the federal level.
Here are the funds we found, along with their current yields and minimum first deposit amounts:
| Prime | 7-day yield | Minimum |
|---|
| Value Advantage Money Fund – SWVXX | 3.64% | $1 |
| Value Advantage Money Fund – SNAXX | 3.79% | $1,000,000 |
| Government and Treasury | 7-day yield | Minimum |
|---|
| Government Money Fund – SNVXX | 4.04% | $1 |
| Government Money Fund – SGUXX | 4.19% | $1,000,000 |
| Treasury Obligations Money Fund – SNOXX | 3.51% | $1 |
| Treasury Obligations Money Fund – SCOXX | 4.25% | $1,000,000 |
| U.S. Treasury Money Fund – SNSXX | 3.57% | $1 |
| U.S. Treasury Money Fund – SUTXX | 4.11% | $1,000,000 |
| Muni | 7-day yield | Minimum |
|---|
| Municipal Money Fund – SWTXX | 2.51% | $1 |
| Municipal Money Fund – SWOXX | 2.66% | $1,000,000 |
| California Municipal Money Fund – SWKXX | 2.06% | $1 |
| California Municipal Money Fund – SCAXX | 2.21% | $1,000,000 |
| New York Municipal Money Fund – SWYXX | 2.53% | $1 |
| New York Municipal Money Fund – SNYXX | 2.68% | $1,000,000 |
| Variable Share Price | 7-day yield | Minimum |
|---|
| Variable Share Price Money Fund – SVUXX | 5.30% | $1,000,000 |
The variable share price fund is mainly for institutions, though we were able to buy it in an individual account. Even though it’s called a variable fund, it has kept a $1.00 share price recently. It is actively managed.
At Schwab, money market funds usually can’t be set as the default core cash option in brokerage accounts. Most accounts use an FDIC-sweep program instead, although there are some exceptions.
While Schwab’s platform shows money market funds from other providers, we couldn’t place buy orders for them.
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How to Buy a Money Market Fund on Schwab
Each fund on the list has a green buy button. Click it to open an order ticket with the fund’s details, including the ticker. The order form shows fee info and the NAV. Enter the amount you want to invest.
You can also set how you want distributions handled: no reinvestment, capital gains only, or both dividends and capital gains.
Schwab’s mobile app can also be used, but since there’s no screener, you’ll need to type in the ticker. You can also add a fund to your watchlist and order from there.
After buying, you can easily place another buy or a sell from the positions page. You can also adjust reinvestment choices or set up an automatic investment plan there.
Schwab Money Market Funds Pricing
Schwab’s money market funds don’t have loads or transaction fees. There are no minimum hold times either. They do have management fees, which are annual percentages of assets. Here are some examples:
| Fund | Expense ratio |
|---|
| Treasury Obligations Money Fund, Investor Shares: SNOXX | 0.34% |
| Treasury Obligations Money Fund, Ultra Shares: SCOXX | 0.19% |
| Municipal Money Fund, Investor Shares: SWTXX | 0.34% |
| Municipal Money Fund, Ultra Shares: SWOXX | 0.19% |
Insurance
Money market funds act like cash but are actually securities. They are covered by SIPC, not FDIC. SIPC protection can go up to $500,000, compared to $250,000 for FDIC-insured bank accounts.
Other Cash Products at Schwab
Schwab’s site has a large section on short-term fixed-income products. You’ll find it under the same Research tab by selecting bonds, CDs, and fixed income.
On this page, you’ll see info on Treasury auctions, mortgage-backed securities, new muni issues, retail notes, and tax-free bond funds. Here are some brokered CDs we found:
| Bank | Maturity date | Coupon |
|---|
| First Citizens Bank | 06/16/2026 | 4.20% |
| Synovus Bank | 12/16/2026 | 4.10% |
| Discover Bank | 04/07/2027 | 4.05% |
| Capital One Bank | 06/14/2027 | 4.01% |
Unlike money market funds, brokered CDs are FDIC insured. On Schwab’s platform, they can include small markups or markdowns, but we didn’t notice any during our review.
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Updated on 2/1/2026.
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