SNOXX yield: 3.60% as filed, and what it keeps after tax

What the filings say about SNOXX

Schwab Treasury Obligations Money Fund is the clearest case in this data of a name that does not tell you the state tax answer. The fund holds only Treasury securities and repo backed by Treasuries, which is what the name promises. But at the end of the reported month 57% of the portfolio was repo and only 43% Treasuries held directly. At the June and September quarter ends the direct share was 36.7% and 35.6%, below the 50% that California, Connecticut and New York require at the close of every quarter. In those three states, then, the whole SNOXX dividend is taxable, while SNSXX next to it, at 3.61%, keeps its full exemption. In states that exempt the federal share without a threshold, such as New Jersey, Pennsylvania or Illinois, SNOXX still earns an exemption on its direct Treasury income.

SNOXX 7-day yield as filed, June 1, 2026 to October 30, 2026

A fund reports these yields once a month, within five business days of month end. Between two reports the figure here ages: by the time the October 2026 report is replaced, it is up to five weeks old. The fund’s own site shows today’s figure.

What SNOXX held on October 31, 2026

Share of the portfolio in U.S. government debt whose interest states cannot tax: 42.8%. This is the figure the calculator above uses as the state-tax-free part of the dividend. It is an estimate from the holdings on one day; the fund’s year-end tax statement gives the share of the year’s dividends, which is the figure for a tax return.

SNOXX and the 50% quarter-end test

In California, Connecticut and New York, the part of a dividend earned on U.S. government debt is state-tax-free only if the fund kept at least half its money in that debt at every quarter end. These quarter-end figures only decide pass or fail; the 43% above is the part the calculator treats as tax-free. SNOXX fell below half at one or more quarter ends in the data, so residents of the three states pay state tax on the whole dividend for the year. The law looks at the close of each quarter of the fund’s own tax year, which is not always the calendar quarter; calendar quarter-end reports are a close proxy, and the fund’s year-end letter says whether it qualified. How the rule works.

SNOXX at a glance

Where SNOXX ranks after tax

Among the 283 share classes in the data, for a single filer with $120,000 of taxable income and $50,000 in the fund:

The rank compares SNOXX with every other fund for a resident of that state. In a state with no income tax, such as Texas, funds whose dividends are taxed by states catch up, so the rank can be lower even though you keep more. In California, the fund ranked first kept $316 a year more than SNOXX on $50,000.

A rank of past yields, not a recommendation, and this site does not say which fund to hold. Moving cash to another fund can involve a minimum or a fee set by your brokerage. Rank every fund for your situation.

What to watch in SNOXX

The filed 7-day yield was 3.60% for October 30, 2026, with an expense drag of about 0.34%. The data covers only two quarter ends; a fund’s mix can change from one quarter to the next.