Money Market Funds at Robinhood
Main Takeaways:
• You can buy shares of money-market ETFs in a Robinhood brokerage account.
• Only a limited number of money-market ETFs are available right now.
• To access a larger selection of money-market mutual funds, a Schwab account is required.
If trading stocks, options, futures, and cryptocurrencies has become overwhelming, a money-market fund may offer a calmer option. Here’s how Robinhood fits in:
Outline of Money-Market Funds at Robinhood
Robinhood allows trading in most ETFs listed on major U.S. exchanges. At present, only a small number of money-market funds are available in ETF form. Examples include:
| Fund | Ticker | 7-day yield | Expense ratio |
|---|
| Texas Capital Government Money Market ETF | MMKT | 3.83% | 0.20% |
| Schwab Government Money Market ETF | SGVT | 3.53% | 0.28% |
These funds aim to keep a Net Asset Value of $100. They usually do, although small changes can occur. Their market prices can also move, so they are not as stable as money-market mutual funds.
Since Robinhood does not offer mutual funds, these money-market ETFs are a reasonable alternative and can be used as short-term cash holdings. Although they behave like cash, both money-market ETFs and mutual funds are securities and are protected by SIPC.
Robinhood also offers ultra-short-term bond ETFs that are similar to money-market funds. Some have prices and NAVs near $100, while others differ. Either way, they are relatively stable and can serve as money-market substitutes. Examples include:
| Fund | Ticker | 7-day yield | Expense ratio |
|---|
| iShares Short Treasury Bond ETF | SHV | 4.02% | 0.15% |
| PIMCO Enhanced Short Maturity Active ETF | MINT | 4.49% | 0.35% |
MINT declined by 1% in 2022 before dividends. Capital is not guaranteed.
Robinhood Promotion
Finding Money-Market Funds at Robinhood
Robinhood does not offer a tool to search only for money-market funds. To view one, you must enter the ticker symbol or fund name in the search box on the website or app. Some ultra-short bond ETFs also appear in the Bond ETFs list when you type “Bond ETFs” into the search bar.
Examining Money Funds at Robinhood
Each ETF on Robinhood has a profile page with basic details. For money-market funds, the information is limited and usually includes the investment strategy, daily trading volume, and what other Robinhood users hold.
Buying Money Funds at Robinhood
Trading a money-market ETF works the same way as trading a stock or ETF. On the website, the trade ticket is part of the fund’s profile. On Legend, Robinhood’s browser platform, you must click the trade button. On the mobile app, the trade button appears at the bottom of the screen.
Costs
Robinhood charges no commissions on money-market ETFs or other funds. Since Robinhood supports dollar-based trading, the minimum investment is just $1.
Schwab as a Replacement
If you want money-market mutual funds, Robinhood is not the right choice. Schwab is. Schwab manages its own lineup of money-market funds, with a total of 16 mutual funds. These are in addition to SGVT and other ETFs that can also be traded at Robinhood. Examples include:
| Fund | Ticker | 7-day yield |
|---|
| Government Money Fund – SNVXX | 3.52% | $1 |
| Value Advantage Money Fund – SWVXX | 3.64% | $1 |
| California Municipal Money Fund – SCAXX | 2.21% | $1,000,000 |
| Value Advantage Money Fund – SNAXX | 3.79% | $1,000,000 |
* Muni yields are lower because the income is tax-exempt.
Schwab money funds come in two share classes: Investor and Ultra. Ultra shares offer higher yields but require a $1 million minimum. Investor shares require only $1.
To find Schwab’s money-market funds, open an account and log into the website. Click the Research tab and select money-market funds. Each fund includes a buy button for quick trades. Because these are mutual funds, placing orders is even simpler than with ETFs.
Schwab charges no transaction fees on these funds and does not require a minimum holding period. For more details, click a ticker symbol to open the fund’s profile, where you’ll see information such as:
- Investment objective
- Daily distribution
- Management style
- Quarterly return
- Daily net shareholder flows
- And more...
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Updated on 1/5/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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