What is the difference between sweep and purchased money funds?

difference funds money sweep
0
Posted

What is the difference between sweep and purchased money funds?

0
Verdun

I’ve never known the difference between these concepts, but now I’ve Googled more info and I want to thank you for that. I also came across an interesting article about bitcoin mining on the Internet. Has anyone tried using such a source of income? What advantages and disadvantages do you see in it?

0

• Money market funds differ in their availability, eligibility requirements and yield. • Sweep money market funds – At the end of each business day, sweep money market funds “sweep” uninvested cash into the fund, providing immediate liquidity and a way to automatically earn income on uninvested cash in your account. While all clients have an interest-bearing feature on their account, not all are eligible for a sweep money fund. Learn more about Schwab’s eligibility rules for cash pending investment. • A purchased money fund generally has a higher yield than a sweep money market fund. When you need to liquidate funds, you purchase and sell shares of the fund just like any other mutual fund. You’ll receive the proceeds the next business day. Purchased money funds are available to all clients. For the Schwab Investor Money Fund™, SW2XX, the minimum investment is just $2,500.

Related Questions