SNSXX yield: 3.61% as filed, and what it keeps after tax
SNSXX is the ticker of Schwab U.S. Treasury Money Fund. Here is what it paid and what you keep after tax. Yield reported by the fund for October 30, 2026, its last business day in the October 2026 report; holdings as of October 31, 2026, the date of that report. The fund’s own site shows today’s figure. Not investment advice.
Example result
SNSXX after federal and California tax
2.74%
$1,372 a year kept on $1,805 of dividends
| Dividends before tax | $1,805 |
| Federal tax at 24.0% | −$433 |
| State tax at 9.30% $1,805 of the $1,805 is free of California tax | −$0 |
Yield reported by the fund for October 30, 2026; yields change daily. Estimate, not tax or investment advice. Nothing you type leaves your browser. How it is computed
What the filings say about SNSXX
Schwab U.S. Treasury Money Fund is the Schwab fund whose holdings are entirely Treasury bills and notes: no repo in the schedule filed for October 31, 2026. That puts it in the same category as Vanguard’s VUSXX and Fidelity’s FDLXX, and very different from the Schwab fund with a similar name, Treasury Obligations (SNOXX), which held most of its money in repo. The filed 7-day yield was 3.61%, against 3.89% for VUSXX and 3.61% for FDLXX on their latest days. Most of the difference between the three is cost: the gross yield of SNSXX was 3.95%, so expenses took about 0.34%, against 0.07% at Vanguard. For a reader who keeps cash at Schwab and lives in a high-tax state, SNSXX is the Schwab fund that keeps the full state exemption; whether moving the cash elsewhere is worth the yield gap is a question of amounts, which the calculator answers in dollars.
SNSXX 7-day yield as filed, June 1, 2026 to October 30, 2026
| Last day reported in the month | 7-day net yield |
|---|---|
| June 30, 2026 | 3.38% |
| July 31, 2026 | 3.42% |
| August 31, 2026 | 3.42% |
| September 30, 2026 | 3.53% |
| October 30, 2026 | 3.61% |
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 SNSXX held on October 31, 2026
| Holding | Share of portfolio | Exempt from state tax? |
|---|---|---|
| Treasury bills and notes | 100.0% | Yes, by federal law |
Share of the portfolio in U.S. government debt whose interest states cannot tax: 100.0%. 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.
SNSXX and the 50% quarter-end test
| Quarter end | U.S. government debt | California, Connecticut, New York |
|---|---|---|
| June 30, 2026 | 100.0% | Passes (at least 50%) |
| September 30, 2026 | 100.0% | Passes (at least 50%) |
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 100% above is the part the calculator treats as tax-free. SNSXX held at least half its assets in U.S. government debt at every quarter end in the data, so it passes. 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.
SNSXX at a glance
| Fund type | Treasury only money market fund; category on the filing: Government |
| Legal entity that files the fund’s report | Charles Schwab Family of Funds |
| Assets in this share class | $44.7 billion |
| Gross 7-day yield of the fund | 3.95% |
| Expenses taken from the yield (expense drag) | 0.34% |
| Average days until holdings repay or reset their rate (weighted average maturity) | 44 days (legal limit 60) |
| Average days until holdings are paid back in full (weighted average life) | 72 days (legal limit 120) |
| Minimum initial investment on file | None reported |
Where SNSXX 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:
| State | Rank | Yield after tax | Kept a year |
|---|---|---|---|
| California | 37 of 283 | 2.74% | $1,372 |
| New York | 60 of 283 | 2.74% | $1,372 |
| Texas | 131 of 283 | 2.74% | $1,372 |
The rank compares SNSXX 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 $144 a year more than SNSXX 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 SNSXX
The quarter-end Treasury share was 100.0% in June and 100.0% in September. Its weighted average maturity was 44 days.
Questions about this page
Tap a question to see the answer.
Is SNSXX state tax exempt?
Its holdings were 100% Treasuries at both quarter ends in the data, so in states that exempt Treasury income nearly all of the dividend should be exempt. Schwab publishes the exact percentage after year end; use that figure on the state return.
Why does SNSXX yield less than VUSXX?
Both hold only Treasuries. On the filed figures SNSXX lost about 0.34% to expenses and VUSXX about 0.07%, which accounts for most of the 28 basis points gap. Maturity and the timing of bill purchases explain the rest. Both reprice within weeks when the Federal Reserve moves.
Is there a minimum for SNSXX?
The Investor share class shows a minimum initial investment of $0 in the Form N-MFP filing. Availability and any minimum set by the brokerage account are separate matters that the filing does not cover. Schwab’s prospectus states the current terms of purchase.
Other pages
Filings, rules and tax schedules behind this page
- Form N-MFP report of Charles Schwab Family of Funds for October 31, 2026, filed November 6, 2026 (as filed)
- Securities and Exchange Commission, Form N-MFP data sets (monthly, as filed)
- 17 CFR 270.2a-7, money market funds (rule 2a-7)
- IRS Revenue Procedure 2025-32, 2026 tax rate tables
- California Franchise Tax Board, 2025 Schedule CA (540) instructions: funds with 50% of assets in U.S. or California obligations
- New York State Department of Taxation and Finance, 2025 Form IT-201 instructions (line 28, rate schedules)
Compiled by Radif Partners
Independent publisher of money market fund yield and after-tax calculators built on Form N-MFP filings
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Fund data as filed for 2026, site checked on