Schwab Clients Shift From Prime Funds to Government Portfolios
都是 money market funds。Prime (比如 SWVXX) 有不少是银行的 commercial paper,yield 4.6 上下。Government (比如 SNOXX)除了 reverse repo 都是 US Treasury (all sorts of, short remaining maturity),yield 4.2 上下。
目前没见 prime money market funds "breaking the buck" (the buck: NAV = $1.00, break the buck: NAV < $1.00)。2008年时有过。
下面是SWVVX (Prime) 与 SNOXX (Treasury) 两个基金的 total net assets