Schwab Money Market Funds Daily Mark-to-Market Values
 
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At Schwab, we are committed to providing our clients with information that helps them to better understand their investments in the Schwab Money Market Funds. Along with other major money fund sponsors, we are now disclosing the Mark-to-Market Values of our domestic money funds on a daily basis. We view this as a positive step toward providing additional transparency into how the Schwab Money Market Funds are managed.

It’s important however to keep these few key points in mind:

  • Disclosing the Mark-to-Market Value is for informational purposes only. It should not be confused with a “Floating Net Asset Value (NAV)”, which means that investors would buy and sell at something other than a fixed or constant NAV. As always, the Schwab Money Market Funds continue to seek to maintain and transact at a stable $1.00 per share NAV.
  • Certain factors can cause a money fund’s Mark-to-Market Value to fluctuate slightly above or below $1.0000, such as interest rate changes, market and credit conditions and the constant flow of assets into and out of the fund. What’s important to remember is that a fund’s Mark-to-Market Value can have daily fluctuations, even during very stable market environments.
  • As the investment adviser for the Schwab Money Market Funds, Charles Schwab Investment Management (CSIM) continues to utilize a rigorous and disciplined investment approach that prioritizes safety, high credit quality, strong liquidity and diversification across issuers over yield.

For more detailed information on how to understand this new disclosure, please view this brief audio presentation from Schwab’s Money Market Funds Client Portfolio Strategist, Rick Holland. A Closer Look at Mark-to-Market Value.

 

Schwab Money Market Funds Daily Mark-to-Market Value Report
Data as of 4/16/14
The Funds' Mark-to-Market Values are being provided for informational purposes only.
The Funds do not currently transact using their Mark-to-Market Value.
The Funds continue to seek to maintain a stable $1.00 per share NAV.
Fund NameSymbolTransaction NAV1Mark-to-Market Value2
Schwab Government and Treasury Money Market Funds
Schwab U.S. Treasury Money Fund3SWUXX$1.00$1.0001
Schwab Treasury Obligations Money Fund - Value Advantage Shares5SNOXX$1.00$1.0001
Schwab Treasury Obligations Money Fund - Sweep Shares5SNTXX$1.00$1.0001
Schwab Government Money FundSWGXX$1.00$1.0001
Schwab Prime Money Market Funds
Schwab Cash ReservesSWSXX$1.00$1.0001
Schwab Advisor Cash Reserves - Sweep SharesSWQXX$1.00$1.0001
Schwab Advisor Cash Reserves - Premier Sweep SharesSWZXX$1.00$1.0001
Schwab Money Market Fund4SWMXX$1.00$1.0001
Schwab Value Advantage Money Fund - Investor SharesSWVXX$1.00$1.0001
Schwab Value Advantage Money Fund - Select SharesSWBXX$1.00$1.0001
Schwab Value Advantage Money Fund - Institutional SharesSWAXX$1.00$1.0001
Schwab Value Advantage Money Fund - Institutional Prime SharesSNAXX$1.00$1.0001
Schwab Investor Money FundSWRXX$1.00$1.0001
Schwab Retirement Advantage Money FundSWIXX$1.00$1.0001
Schwab Municipal and AMT Tax-Free Money Market Funds
Schwab Municipal Money Fund - Value Advantage SharesSWTXX$1.00$1.0001
Schwab Municipal Money Fund - Select SharesSWLXX$1.00$1.0001
Schwab Municipal Money Fund - Institutional SharesSWOXX$1.00$1.0001
Schwab Municipal Money Fund - Sweep SharesSWXXX$1.00$1.0001
Schwab California Municipal Money Fund - Value Advantage SharesSWKXX$1.00$1.0002
Schwab California Municipal Money Fund - Sweep SharesSWCXX$1.00$1.0002
Schwab Pennsylvania Municipal Money Fund - Sweep SharesSWEXX$1.00$1.0005
Schwab AMT Tax-Free Money Fund - Value Advantage SharesSWWXX$1.00$1.0003
Schwab AMT Tax-Free Money Fund - Sweep SharesSWFXX$1.00$1.0003
Schwab California AMT Tax-Free Money Fund - Value Advantage SharesSNKXX$1.00$1.0005
Schwab Massachusetts AMT Tax-Free Money Fund - Sweep SharesSWDXX$1.00$1.0016
Schwab New Jersey AMT Tax-Free Money Fund - Sweep SharesSWJXX$1.00$1.0010
Schwab New York AMT Tax-Free Money Fund - Value Advantage SharesSWYXX$1.00$1.0010
Schwab New York AMT Tax-Free Money Fund - Sweep SharesSWNXX$1.00$1.0009
Schwab Annuity Portfolios
Schwab Money Market PortfolioSWPXX$1.00$1.0001

1Transaction NAV uses the amortized cost method of accounting expressed out to two decimal places. Pursuant to Rule 2a-7, Schwab Money Market Funds trade at the amortized cost of $1.00 per share.

2Mark-to-Market Value is calculated using available market quotations, or an appropriate substitute that reflects current market conditions, in order to value its portfolio expressed out to four decimal places. The Mark-to-Market Value does not reflect the price at which an investor may transact in shares of the Funds. The foregoing should not be considered an offer to purchase or sell shares of any Fund at such price. 

3Fund closed as sweep option for new accounts as of Sept. 26, 2011

4Fund closed as sweep option for new accounts as of Sept. 1, 2005

5Value Advantage Shares closed for new investors, and Sweep Shares closed for new accounts as of October 4, 2013.

Charles Schwab Investment Management, Inc. ('CSIM'), the investment advisor for Schwab Funds, and Charles Schwab & Co., Inc. ('Schwab', member SIPC), the distributor for Schwab Funds, are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. 

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