SWVXX (the Schwab Value Advantage Money Fund) accrues interest (dividends) daily and typically pays it out once a month around the 15th , with a slightly different schedule in December.

Quick Scoop: When SWVXX Pays Interest

  • SWVXX declares dividends every day based on that day’s yield and your end‑of‑day balance.
  • Those daily amounts are bundled into a single monthly dividend , which is credited around the 15th of each month.
  • In many accounts, the dividend shows as “paid” on the 15th and becomes fully available to use or reinvest by about the 16th.

Special Note About December

  • For most months, the dividend is credited mid‑month (around the 15th).
  • In December , the fund’s payout is typically moved to later in the month (end‑of‑year timing rather than the 15th).

How the Daily Interest Works

Think of SWVXX as quietly logging your earnings every night:

  • If you hold SWVXX for only part of a month, you still earn a pro‑rated amount for just those days.
  • The posted 7‑day yield is an annualized snapshot of the recent average rate; your actual dollar earnings are that rate applied day by day to your balance.

Example idea: If you buy shares on the 3rd and hold through the 20th, you earn daily dividends for those held days, which all show up in your next monthly payout.

If You’re Timing a Purchase

  • You do not need to own SWVXX on the 1st to get the mid‑month payment; you just need to have held it on the days for which interest is being accrued.
  • If you buy mid‑cycle, you simply get fewer days of interest in that first payment, then a full month’s worth after that if you keep holding.

TL;DR: For “when does SWVXX pay interest,” the fund credits a monthly dividend around the 15th (end‑of‑month in December), but your earnings are calculated daily based on how many days you actually held the fund.

Information gathered from public forums or data available on the internet and portrayed here.