Wealthy PotSWVXX Review (2026)
SWVXX matters because Schwab’s default cash sweep pays very little; buying SWVXX is how Schwab investors get a real money-market yield on idle cash. It is a solid prime fund; the catch is you have to move the money into it yourself.
By Wealthy Pot · Last updated September 2026
Pros
- A competitive prime-fund yield
- No minimum investment
- One of the most popular funds for Schwab cash
Cons
- Schwab does not auto-sweep into it; you must buy it (Schwab’s default sweep is low-yield bank cash)
- Prime credit risk
- Fully taxable at the state level
Who SWVXX is for
Best for Schwab investors who want a competitive yield on cash and are willing to manually buy the fund rather than leave money in Schwab’s low-yield default sweep.
Yield, fees & minimum
Schwab Prime Advantage Money Fund (SWVXX) is a prime money-market fund from Schwab, with a 0.34% expense ratio and a $0 minimum. Its 7-day SEC yield (3.52% (7-day SEC yield)) moves with short-term rates. Confirm the current figure on the official page. State tax: mostly taxable (prime fund: holds corporate paper, not just treasuries). It is not an automatic sweep: you buy and sell it yourself. It aims to hold a stable $1.00 share price, though that is a target rather than a guarantee.
The bottom line
SWVXX matters because Schwab’s default cash sweep pays very little; buying SWVXX is how Schwab investors get a real money-market yield on idle cash. It is a solid prime fund; the catch is you have to move the money into it yourself. Main drawback: not a schwab sweep (schwab sweeps to low-yield bank cash by default); prime credit risk.
Compare SWVXX with…
See how SWVXX stacks up in our money-market fund comparison, or compare FDIC-insured options in our high-yield savings guide.
We summarize the fund's published facts, not user reviews. 7-day yields are variable, change daily, and are re-checked against Schwab's official page. Money-market funds are not FDIC-insured and, while low-risk, can lose value in extreme conditions. Some outbound links may be affiliate links. That never affects which funds we include or how we rate them. Nothing here is financial advice.