Schwab Tax-Free Money Market Fund line-up includes funds whose interest is exempt from the Alternative Minimum Tax (AMT), as well as funds for investors seeking income exempt from state taxes in California and Pennsylvania. Schwab Funds offers state-specific AMT Tax-Free Money Market Funds for California, Massachusetts, New Jersey and New York.
Schwab Funds offers both Sweep and Purchased Money Market Funds. Sweep Money Market Funds are available for Schwab accounts that meet certain asset levels. For Schwab accounts with a Sweep Money Market Fund, uninvested cash balances are automatically swept into the Sweep Money Market Fund, and the positions in the Sweep Money Market Fund appear in the account the morning of the next business day. Redemptions for transactions in Sweep Money Market Funds also occur automatically. Clients must, however, actively buy or sell Purchased Money Market Funds.
|Schwab Municipal Money Fund - Sweep Shares (SWXXX)||Schwab Municipal Money Fund - Value Advantage Shares (SWTXX)|
|Schwab CA Municipal Money Fund - Sweep Shares (SWCXX)||Schwab Municipal Money Fund - Select Shares (SWLXX)|
|Schwab PA Municipal Money Fund (SWEXX)||Schwab Municipal Money Fund - Institutional Shares (SWOXX)|
|Schwab AMT Tax-Free Money Fund - Sweep Shares (SWFXX)||Schwab CA Municipal Money Fund - Value Advantage Shares (SWKXX)|
|Schwab MA AMT Tax-Free Money Fund (SWDXX)||Schwab AMT Tax-Free Money Fund - Value Advantage Shares (SWWXX)|
|Schwab NJ AMT Tax-Free Money Fund (SWJXX)||Schwab CA AMT Tax-Free Money Fund - Value Advantage Shares (SNKXX)|
|Schwab NY AMT Tax-Free Money Fund - Sweep Shares (SWNXX)||Schwab NY AMT Tax-Free Money Fund - Value Advantage Shares (SWYXX)|
To achieve their investment objectives, Schwab’s Tax-Free Money Market Funds invest in short-term municipal money market securities issued by states, local governments and other municipal agencies around the country and from U.S. territories and possessions. Schwab applies rigorous internal practices in the management of our Tax-Free Money Market Funds with an emphasis on safety, quality and liquidity. Our funds are managed using a stringent credit review process and closely monitored limits.
CSIM employs a team of dedicated credit analysts who focus on municipal securities. The CSIM municipal credit team performs its independent credit research on each security that the funds purchase, in addition to considering the credit ratings published by independent third-party rating agencies. Each security must be approved for purchase by CSIM’s municipal credit committee. After purchase, each fund’s credit analyst continues to monitor each security for changes in its underlying credit fundamentals that could affect its credit worthiness. CSIM maintains this credit review process regardless of market conditions.