SWGXX Mutual Fund — Schwab Government Money Fund

Schwab Government Money Fund (SWGXX)

Updated October 2, 2026.

SWGXX is a Mutual Fund. its distribution rate is 3.50%, its trailing-12-month yield is 3.38%, its expense ratio is 0.44%. Dividend Vision Distribution Safety Score™ is 78/100 (Generally safe). Total return is 15.5% over the past 3.5 years, 78.7 points behind SPY at 94.2%.

At the current 3.50% distribution rate, a $10,000 investment would generate approximately $350 per year, or $29.17 per month.

The fund invests in short-term U.S. government securities and repurchase agreements to provide liquidity and stability.

SWGXX performance versus SPY

Price and return data through 2026-10-02.

Total return is 15.5% over the past 3.5 years, 78.7 points behind SPY at 94.2%. Over the past year its total return — price change plus distributions reinvested — is 3.4%.

SWGXX key facts

Distribution Safety Score™

78 · Generally safe

Safety-Adjusted Yield

2.73%

Issuer

Schwab

Asset type

Mutual Fund

Asset class

Equity

Inception date

04/17/2023

Expense ratio

0.44%

Distribution rate

3.50%

Distribution frequency

Monthly

Trailing yield

3.38%

Last close

$1.00 (as of 2026-10-02)

NAV

$1.00 as of 2026-09-30

Premium / discount

0.00% (price 2026-10-02, NAV 2026-09-30)

AUM

$18,167,693,312

Average volume

0.0

Last dividend

$0.00262

Last ex-dividend date

09/15/2026

Last payment date

09/15/2026

Beta

-0.0011

How Dividend Vision calculates yield and returns

Distribution rate (3.50%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (3.38%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Schwab; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

SWGXX risks and drawbacks

SWGXX's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window.

Who may consider SWGXX — and who may not

SWGXX may suit someone looking for moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from Schwab.