| Title | : | Schwab Money Market Funds | SWVXX, SNVXX, SNOXX, SNSXX vs Bank Sweep (How To Buy Money Market Funds) |
| Lasting | : | 16.25 |
| Date of publication | : | |
| Views | : | 37 rb |
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Are these funds covered under SIPC? Comment from : Mod Hua |
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Great video I waa going to park a chunk of cash in Schwab'a Advantage Money Fund SWVXX I parked it in SNSXX instead But maybe you could explain here or in a future video the pros and cons of like funds at Fidelty and Vanguard , if applicable Comment from : Derek Wong |
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Schwab SUCKS I just left them Went to fidelity Comment from : David Petik |
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How does SNSXX differ from SGOV and which is better??? Comment from : opentrunks |
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Absolutely love your videos You have a special gift! Why invest in a money market vs buying CD’s, T-bills etc? Do you have a video on this? Comment from : Sam Keino |
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Thank you for great video and valuable information Regarding accessibility of the funds parked in money market fund (I have SWVXX): Schwab allows you to place an order to buy a stock even if it shows $0 cash balance, so usually I am buying stocks during the day and, at the end of the day place an order to sell required amount of shares in money market fund The amount to cover is easily seen as negative number in cash balance Comment from : Larisa A |
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Margin account can access the proceeds same day you sell stocks, so I am guessing it also applies to Money Market FundsbrPlease correct me if I am wrong Comment from : golden stars |
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Hi Jennifer! Two questionsDoes the interest made on SNSXX stay in the fund or dump to the sweep? And is the 035 expense fee already calculated into the 7 day yield? Thx Also share the unfortunate brNY tax burden with you!! Comment from : Saf Jr |
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A great video just what I was looking for I'll follow your advice (I live in Calif) and buy both SWVXX and SNSXX I was going to buy SNOXX, but you gave me better fund options Comment from : Dan Cymarron |
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What happens to my $ in SWVXX or SNVXX if schwab fails??? I’m getting really nervous as things are heating up Comment from : Kelly Lee |
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As of August 12, Fidelity's SPAXX 7 day yield 4,96, Schwab's SWVXX 7 day yield 523 Comment from : To Lee |
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FWIW -- I was curious as to what happens if you sell a fund, eg SWVXX, before the 15th of the month -- do you get a dividend for the month? I think the answer is yes, based on below verbiage from the prospectus The key is that dividends are DECLARED on a DAILY basis, but PAYABLE on a MONTHLY basisbrbr"Each fund declares a dividend every business day, based on its determination of its net investment income The funds pay their dividends on the 15th of each month (or 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 If your daily dividend is less than $001, you may not receive a dividend payment To receive a dividend distribution, you must be a registered shareholder on the date that dividends are declared" Comment from : kodos _ |
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I have money sitting in my savings until the market corrects a bit more I plan to transfer it to my investment account to purchase SNSXX for the time being Comment from : Alphahydro |
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What about E-Trade Any tip on that platform? Comment from : JBosler3 |
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SNSXX is taxable at federal level, right? Comment from : Kelly Lee |
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I value the 1-2 day liquidity in these funds over the slightly higher rate of a 3-6 month T-Bill or CD (from a good solid bank) I'm willing to pay 5 for that so I don't miss some opportunity like silver crashing into the teens Wish it was zero days like Fidelity though Comment from : Alupang Guam |
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Excellent video Very informative and easy to understand Comment from : Mungo Mick |
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I was an TDAmeritrade account holder that was moved to Scwab a few months ago The next to nothing you talk about in interest is a lot more than I was getting at TDAmeritrade Anyways I am watching this video to move some of my cash in a Roth and my taxable account to one of these funds Thanks! Comment from : drescherjm |
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how do you find the rate of these money market funds? Comment from : John Lin |
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what would happen to these money market funds if the US gov defaults on debt or the dollar collapses? what risks are there with these funds? Comment from : Water house |
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You do a great job Comment from : L Levitt |
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I learn something new with each video I watch Trying to figure out what to do with a daughter's lump sum settlement - and this video (and others) was very helpful Thanks! Comment from : Terry Stoa |
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I'm with Ameritrade, which will be migrating to parent company Schwab accounts Their target is to migrate everyone by year end I'm discouraged to hear and confirm the low interest sweep accounts Thanks for sharing that! I also have a Fidelity brokerage for our health savings accounts and was able to follow your directions to change my core sweep account there Thanks for that help too! Comment from : Sue Newshutz |
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Loving the snark 😊 Comment from : dugfriendly |
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Are the SNSXX dividends taxed as qualified dividends, ordinary dividends or as interest? Thanks for the great information Comment from : John Hockin |
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I live in California and I bought snoxx I still have to pay state tax on it? Snoxx contains only T-bill, right? Comment from : kakit ling |
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Ur an angel, this should help a lot of folks I sort of stumbled across this issue about a year ago Had Usaa accounts for many years- when I made my first trade at Schwab, I started to receive unpleasant sounding emails saying you “don’t have any money to make this trade”… yep I made the assumption that I could trade from my core money funds like I did at fidelity and usaa Also I did have a big chunk of money in that sweep account in my brokerage account All good now I’m in Snsxx for brokerage and swvxx for Ira Note , just like I learned this lesson when Schwab bought USAA, I think anyone from TD ameritrade coming into Schwab should really take a look at how their core accounts were moved over…😮 Comment from : Louis G |
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Do u have a formula to calculate the maximum quantity amount of T-bills (in even thousands of dollars) that I can afford to buy? I like to put my order in for the maximum quantity that I can afford (using all the money in my ROTH account, in full thousands), but right now I have to guess how much that will really cost Comment from : Ann Mckeighen |
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Perhaps I missed it in the video but my understanding with Schwab is that there is a third downside or con which disallows the use of margin for stock trading on the funds held in these higher yielding mm instrumentsbrbrLove ❤ NestEgg videos and all of the information provided to us 👍🙏- Vielen Dank! Comment from : Chris Weaver |
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Can you do a video on how to transfer accounts from Schwab to Fidelity? Can this even be done with a retirement account? Thx! Comment from : David Litman |
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I used to place my cash in SWVXX but moved to SNSXX during SVB & First Republic debacle, because on Schwab's site it says SWVXX's liquidity ("Measure of a money market fund's ability to meet shareholder redemptions, stated as a percentage of total money market fund assets, and calculated for one business day") is only around 40 while their treasury money market funds have liquidity of 100 40 doesn't seem to be safe enough in case of a bank run Also, I don't think Schwab advertises this but if you sell cash secured puts in your Schwab account, you can use their money market funds as cash collateral, which is pretty nice as it earns interest while you are holding the position Comment from : klotus888 |
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yes Please do Vanguard ETrade on same subject Comment from : Ann Mckeighen |
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Thank you for sharing Helpful video Comment from : Nancy Chace |
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Could you do a video on BOXX ETF ? Seems like the best option for cash and risk free / OCC backed Thanks !! Love your channel Comment from : R RSP |
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Effective July 3 2023 the current interest is 467 Comment from : Essam Makram |
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I use SWVXX because I live in Florida where there is no state income tax Schwab is very customer friendly They also allow you to use the cash in the money market fund as collateral so I can sell cash-secured puts and still make good interest on my cash Comment from : Jim Magaha |
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How or where do I find that SNSXX is State tax exempt? Comment from : Elijah Ekin |
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I know you will be coming out with a similar video dealing with Vanguard Money Market accounts, but off hand which Vanguard MM is similar to Schwab Value Advantage MM? Comment from : Joseph Rizzi |
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Often enough I'll have 10K in Schwab cash sweeps between investments Thanks to you I can now move it into a money market and make some decent $$$ for the short term Thank you !!!! Comment from : Dave G |
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Margin FTW Comment from : Tim Flavin |
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Option buying doesn’t require you to sell the money market shares they will put them on hold but you still get the almost 5 percent Comment from : james volz |
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Thank you for this! I wish I knew this 20 years ago when I opened my Schwab account 😐 Comment from : Tracy Levesque |
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I plan to move all my uninvested cash to Fidelity until Schwab gets their head out of their derriere This sweep account model is unacceptable Comment from : Extra Guac |
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Thanks for this video I might need it in future Right now, I am managing my T-Bill ladder in Schwab I don’t keep much in the Sweep account If I want to build the volume of that ladder, I transfer $ a few days ahead of the auction date brbrWhile my CFP manages the bulk of my securities investments, I manage my fixed income investments I am learning a lot here! Thanks for teaching us how to make our cash work harder! Comment from : C Cos |
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If I withdrew money before the interest pay out date, do I still earn interest for the days the money in the account? Or I will lose those interest Comment from : Emily Fung |
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The higher expense ratio for not being a millionaire bothers mebrVanguard has a much lower expense ratio for everybody Comment from : SOP83 |
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Regarding the "spontaneous purchase" You have to take into account the "Settlement" timeframe of what you're purchasing Stocks/ETF'S are 2 or 3 days, so you don't have to wait to purchase, since the Money Market funds are available the next business day Comment from : XTC Trader |
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S hwab is a PIA because you have to place a trade to buy or sell a money market fund If you sell the mm fund and buy a security the next day you will generate a margin debit, the funds are not available for two trading days Comment from : bernice wahine |
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Thanks for all your very informative videos, Jennifer! I’ve had a Schwab account for many years, and Schwab used to have a sweep with what Fidelity calls “core” cash positions There were several to choose from and trading was pretty seamless It’s a pain having to manipulate the accounts yourself However, virtually all trades have T+1 or T+2 settlement dates, sometimes even longer (eg a Treasury auction), allowing time to move the cash from whatever money market fund it’s in to cover the trade You can’t sell a stock (T+2) to cover a same-day mutual fund purchase (T+1), but in my experience you can buy a CD or T-bill (T+1) and sell money market shares (T+1) the same day to cover the next day settlement Comment from : Ann |
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Funds avail by settlement date; not auction?brbrBid/ask spread loss moving in and out of these funds? Comment from : M R |
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I don’t understand the 7 day yield When I look up SNVXX on Ameritrade (soon to become Schwab) it only shows a TTM on 328 What am I missing? Comment from : Kristen |
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SWVXX Comment from : Dane Morgan |
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Currently in SWVXX, but thanks to your video, I will move funds to SNSXX for state tax exemption Comment from : Jeff Long |
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I used to have an acct at Schwab , had the checking and brokerage When rates were near zero this was ok, but now they are much higher, so I moved to Fidelity for the CMA and brokerage acct I keep a low amount in CMA, to cover cash flow needs, and the rest is in an accompanying brokerage acct where uninvested cash sits in SPAXX earning much more than the CMA or the small amount I used to get if it sat in Schwab's bank sweep Plus when i want to pull the trigger to invest in a stock I dont want to wait to have to sell a MM fund I don't have to with Fidelity core account Schwab must love customers who keep tons of cash sitting in their checking earning 045, as they profit handsomely off that Comment from : snakesnarroz |
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Thank you for taking the time for putting out this great information I’m investing and moving my Schwab cash now Much appreciated! Comment from : M 249 |
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Thank you! Comment from : Kc Waddell |
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How about Merrill edge? Comment from : CC |
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Great video It seemed to imply you have to sell your entire SWVXX to draw out some cash to buy a CD But I’m sure you can just sell the amount needed, say 5 thousand, correct? Comment from : Duane Boykin |
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Great video! Thank you!!! Comment from : Lee Shamrock |
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Jennifer: You don't need to have cash in your Schwab sweep account on the day you make a trade Just sell enough of your money market fund the day before the settlement date, or in the case of a treasury auction, the day before the issue date That way your money works for you longer I do this all the time Schwab order messages tell you to make sure you sell enough of your money market fund to cover the trade Schwab money market trades settle the very next day Thanks for all you do Comment from : Peter Schuler |
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Good stuff Thank you! Comment from : davcon3 |
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She comes through again! Thanks as always Comment from : Vardman Turner |
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SWVXX has $132 billion; SNVXX 182 bil; SNOXX 33 bil; SNSXX 16 bil Comment from : MrRevell111 |
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Schwab is slow to move money but what I have done is setup standing wire instructions from fidelity That way if I find a deal on a CD or something at Schwab, I can wire cash and purchase the deal same day Comment from : yappering |
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I am using SWVXX and will continue to as income taxes are not an issue I wish Schwab had a core money market fund, but I don't want it enough to switch to Fidelity I am switching my Treasury notes to Treasury Direct so I can get reinvestments without a one week gap in a low interest sweep account And when I don't want to reinvest in Treasuries that the money is both swept in and out of my main bank account on the days of issuance and maturity Comment from : Neil Fraser |
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Excellent info I needed to know Thanks! Comment from : Barb Perry |
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Great video - huge fan Thanks! Comment from : Mark Joppru |
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As always, great content and very timely I was just on the phone a few days ago with Schwab asking if I could use SWVXX as my core cash position No, of course but the rep did tell me something interesting You have to sell your money-market a day before you buy a T-Bill but when purchasing a CD, you can set the trade to execute on the CD's settlement date so you don't lose the few days between purchase and settlement like on T-Bills at Schwab I have not tried this yet but I am skeptical I am looking forward to the Vanguard Video Thanks! Comment from : Kevin Foster |
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Since the divdends pay on the 15th, if I sell the MMF before the 15th, will I still get paid of the dividens for the days that I held MMF? Comment from : J C |
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I knew I had a low rate with my Schwab sweep acct so always kept my cash in t-bills I think I'm good keeping it that way, but it's good to know there are alternatives Thanks again for another excellent presentation! 👍 Comment from : free roamer |
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13:30 - 13:33 (?) Comment from : Ellen Rice |
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I think a better strategy is to park idle money in your Schwab account into the short-term US Treasury ETF SGOV It is currently yielding over 5 and will probably do so for some time I can sell SGOV any time during the trading day if I need cash to buy any equities immediately No lag in time at all Not only is the yield currently higher than Schwab's money market funds, but its interest is state and local tax free I welcome any comments Thanks Comment from : Bird Man |
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If you have a margin account at Schwab, some of the disadvantages are alleviated Comment from : Oliver N |
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Interesting! I've always used SWVXX in my Schwab brokerage account for excess cash, but it looks like SNSXX would be better since it wouldn't be taxed in California vs 100 taxed for SWVXX That should more than make up for the 008 yield difference Thanks! Comment from : Stanley Sadorf |
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Thank you for doing schwab It is unfortunate they don't offer a higher rate to park your moneybrI am looking forward to the Vanguard tutorial Comment from : Rebecca Wehrle |
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Schwab, the same is true for Treasury yield money appearing in your account Usually the middle of the day on Tuesday, my 30 Day Treasury that just matured gets deposited into my money market This allows me to buy a new Treasury on Tuesday and not wait one week I also tested the rollover option and that did not make me wait a week either I know there was an earlier video that said waiting a week was required but that was not my experience Perhaps Schwab has changed? Comment from : Beatles4Sale |
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This is the reason I prefer Fidelity over Schwab because their default cash holding is the money market and you don't have to sell it and wait for two days to purchase a new stock or bond Comment from : Roshan |
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I go to SWKXX because I am in CA I hate not having a MM as the default sweep account I am thinking of moving it over to my Fidelity account but I like the idea of two accounts just in case Comment from : Miata FunRun |
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My choices are the same as yours SNSXX for taxable account and SWVXX for IRA Comment from : TotalReturns |
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Great content! Here’s a question…when SNSXX matures in 37 days, do the funds go back into cash just like after Tbills maturing…and is there an option to auto roll after maturity? Comment from : Matt Simmons |
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Does Schwab have a short term 4-8 week treasury fund? Comment from : MIke T |
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excellent thank you Comment from : Herschel Sarnoff |
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