# CHF Money market funds \[2023\] **URL:** \ **Category:** Investing / Portfolios\ **Created:** [March 2, 2023, 11:21am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321 "2023-03-02T11:21:28Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![0xLambda](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/0xlambda/32/9735_2.png) [@0xLambda](https://forum.mustachianpost.com/u/0xLambda)\ **Post date:** [February 26, 2023, 12:01pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/1 "2023-02-26T12:01:02Z")
As an alternative to short-term government bond funds, did anyone of you consider a CHF money market fund? For instance, [Swisscanto (LU) Money Market Fund Responsible CHF FT](https://products.swisscanto.com/products/product/LU0141249424?lang=en) is offered at IBKR. I sadly could not find a YTM of the whole fund anywhere, but when looking at the largest positions, their YTM is between 1% and 1.5%. The weighted average maturity is very low with 0.31 yrs, so there is only a small interest rate risk. However, I am a bit confused about the fees. The sales prospectus mentions a max. agency fee of 2% (which would make the fund very unappealing for short-term investments), IBKR does not mention anything and just shows “NA” for the fees when you try to buy it. ---
**Author:** ![jay](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/ed8c4c/32.png) [@jay](https://forum.mustachianpost.com/u/jay)\ **Post date:** [February 26, 2023, 1:05pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/2 "2023-02-26T13:05:57Z")
> [@0xLambda](#): > > For instance, [Swisscanto (LU) Money Market Fund Responsible CHF FT](https://products.swisscanto.com/products/product/LU0141249424?lang=en) is offered at IBKR. I sadly could not find a YTM of the whole fund anywhere The January fact sheet specifies a yield to maturity of 1.56% for the fund. > [@0xLambda](#): > > However, I am a bit confused about the fees. The sales prospectus mentions a max. agency fee of 2% (which would make the fund very unappealing for short-term investments), IBKR does not mention anything and just shows “NA” for the fees when you try to buy it. As I understand it, a bank or maybe a wealth manager could charge you up to 2%. However, direct brokers usually don’t add such load fees. Based on the IBKR order preview, they charge a fixed CHF 4.95 commission and that’s it. Unlike other mutual funds, it seems both the Swisscanto and CSIF money market funds also don’t have a spread at the fund level. It does seem like an interesting option if you want minimal term risk. The fund consists mostly of corporate bonds, though, i.e. there is a credit risk, which is why the YTM is above the prime rate. ---
**Author:** ![Dr.PI](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/dr.pi/32/5299_2.png) [@Dr.PI](https://forum.mustachianpost.com/u/Dr.PI)\ **Post date:** [February 26, 2023, 1:30pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/3 "2023-02-26T13:30:59Z")
Hmm. Isn’t Luxembourg domicile mean that 35% of distributed coupons from Swiss domiciled bonds is lost to non-refundable L1 withholding tax (as per some recent vote)? ---
**Author:** ![jay](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/ed8c4c/32.png) [@jay](https://forum.mustachianpost.com/u/jay)\ **Post date:** [February 26, 2023, 1:34pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/4 "2023-02-26T13:34:46Z")
Yes, however, it’s an actively managed fund which allows some control over this. From the annual report: > Because coupon payments by domestic borrowers continue to be subject to federal withholding tax, the fund is primarily invested in foreign debt securities and was only able to acquire limited amounts of 0% coupon securities from domestic borrowers for diversification purposes. ---
**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\ **Post date:** [February 26, 2023, 1:36pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/5 "2023-02-26T13:36:11Z")
Is it time to start a wiki about fixed income options now that yields are positive. E.g. comparing: - bond fonds (duration, rating, hedging) - Kassenobligationen - Savings accounts - direct bond ownership - money market funds - … Comparing: yield/risks, taxes, liquidity ---
**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\ **Post date:** [February 26, 2023, 8:40pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/6 "2023-02-26T20:40:25Z")
Ok, dumped my notes as a start here: [Short guide to CHF fixed income options](https://forum.mustachianpost.com/t/short-guide-to-chf-fixed-income-options/9901) feel free to edit/improve etc. For instance could explain the various risk (duration,etc.) in more details or at least at links to external resources. Could also explain why only CHF or CHF hedged bonds are considered 🙂 ---
**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\ **Post date:** [February 27, 2023, 10:00am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/7 "2023-02-27T10:00:38Z")
[Short guide to CHF fixed income options](https://forum.mustachianpost.com/t/short-guide-to-chf-fixed-income-options/9901) has a list of options. ---
**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\ **Post date:** [March 1, 2023, 6:55pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/8 "2023-03-01T18:55:51Z")
So anyone managed to buy into a swiss fund from IB? Would just like to know if it’s just me having issues. (I tried the swisscanto fund quoted here) ---
**Author:** ![jay](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/ed8c4c/32.png) [@jay](https://forum.mustachianpost.com/u/jay)\ **Post date:** [March 1, 2023, 7:09pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/9 "2023-03-01T19:09:39Z")
> [@nabalzbhf](#): > > So anyone managed to buy into a swiss fund from IB? Would just like to know if it’s just me having issues. As far as I can tell, IBKR doesn’t seem to offer CH-domiciled mutual funds. However, the linked Swisscanto fund is LU-domiciled and I can at least preview a trade for that fund. I haven’t tried to actually buy it, though. How does the trade fail for you? ---
**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\ **Post date:** [March 1, 2023, 7:32pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/10 "2023-03-01T19:32:33Z")
The order seems to work (afaict, it’s the first time I try buying a mutual fund), but by the end of the day it’s gone and doesn’t look like anything was executed. I waited a couple of day in case it was a settlement issue, but no dice. (And just retried but looks like same thing is happening again). Does anyone knows how much many fees there would be with other brokers? (e.g. postfinance?) ---
**Author:** ![jay](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/ed8c4c/32.png) [@jay](https://forum.mustachianpost.com/u/jay)\ **Post date:** [March 1, 2023, 8:05pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/11 "2023-03-01T20:05:36Z")
> [@nabalzbhf](#): > > Does anyone knows how much many fees there would be with other brokers? (e.g. postfinance?) At Swissquote it would be a flat CHF 9 fee for mutual funds of prime partners (which includes Swisscanto and CSIF). When buying foreign mutual funds, there is also a 0.15% stamp duty tax. There is no stamp duty tax for domestic mutual funds or selling foreign mutual funds, though. > [@nabalzbhf](#): > > The order seems to work (afaict, it’s the first time I try buying a mutual fund), but by the end of the day it’s gone and doesn’t look like anything was executed. At what time did you initiate the order(s)? According to Swissquote the cut-off time is 13:30 (not sure whether other brokers may have slightly different cut-off times). If your order was after the cut-off time with a Good-Til-Date of today, it might have expired. ---
**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\ **Post date:** [March 1, 2023, 8:19pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/12 "2023-03-01T20:19:37Z")
> [@jay](#): > > At what time did you initiate the order(s)? I don’t recall to be fair. Let me try again 🙂 ---
**Author:** ![nabalzbhf](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/nabalzbhf/32/3277_2.png) [@nabalzbhf](https://forum.mustachianpost.com/u/nabalzbhf)\ **Post date:** [March 2, 2023, 11:21am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/13 "2023-03-02T11:21:28Z")
Tried it and I’m getting a weird error, with something about margin account being available (I have a cash account). The funds I’m trying to use have been transferred on Monday (CHF wire), so I don’t expect them to be still locked. I’ll probably ask support… ---
**Author:** ![nkbhnomfcmmwxdlula](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/n/df788c/32.png) [@nkbhnomfcmmwxdlula](https://forum.mustachianpost.com/u/nkbhnomfcmmwxdlula)\ **Post date:** [March 6, 2023, 9:35pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/14 "2023-03-06T21:35:49Z")
I looked into one of the Mutual Funds: [https://markets.ft.com/data/funds/tearsheet/summary?s=lu0033502740:chf](https://markets.ft.com/data/funds/tearsheet/summary?s=lu0033502740:chf) [https://www.ubs.com/li/en/asset-management/funds-prices/product-details/lu0033502740.html](https://www.ubs.com/li/en/asset-management/funds-prices/product-details/lu0033502740.html) It lists the following costs: - Initial charge: 3.00% - Current management fee: 0.16% p.a. - Ongoing charges: 0.07% p.a. Do we need to pay 3% just to buy the fund? How can we buy MFs? Can we buy them on IBKR or Degiro? ---
**Author:** ![jay](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/ed8c4c/32.png) [@jay](https://forum.mustachianpost.com/u/jay)\ **Post date:** [March 6, 2023, 10:12pm UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/15 "2023-03-06T22:12:36Z")
> [@nkbhnomfcmmwxdlula](#): > > Do we need to pay 3% just to buy the fund? How can we buy MFs? Can we buy them on IBKR or Degiro? The 3% is the maximum charge, it’s up to the broker. For typical execution-only online brokers, there should be no such charge. Check the broker trade conditions for details. It’s available at Swissquote but doesn’t seem to be available at IBKR. ---
**Author:** ![Jaime](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/4bbf92/32.png) [@Jaime](https://forum.mustachianpost.com/u/Jaime)\ **Post date:** [April 14, 2023, 11:20am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/16 "2023-04-14T11:20:28Z")
Just to take this thread asking a different but related question. Any suggestion of what money market fund in CHF I can invest with IB? ---
**Author:** ![jay](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/ed8c4c/32.png) [@jay](https://forum.mustachianpost.com/u/jay)\ **Post date:** [April 14, 2023, 11:52am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/17 "2023-04-14T11:52:09Z")
> [@Jaime](#): > > Any suggestion of what money market fund in CHF I can invest with IB? Check what’s available on IBKR from the list here: [Short guide to CHF fixed income options](https://forum.mustachianpost.com/t/short-guide-to-chf-fixed-income-options/9901) ---
**Author:** ![Jaime](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/4bbf92/32.png) [@Jaime](https://forum.mustachianpost.com/u/Jaime)\ **Post date:** [May 6, 2023, 8:44am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/18 "2023-05-06T08:44:54Z")
I just did a search on IBKR using the Mutual Fund Scanner Filters are - Title includes “CHF” (make sense?) - Fund Type: Money Market - Country: Switzerland And here are the 22 results My questions are a) Is the search criteria make sense? Did I miss anything? b) what does all these share class mean, or how I can find the answer? b) Any one has invested in any of them, to replace savings account? c) PERFORMANCE - YTD seems to be around 0.2% for the best ones here, do they make sense? How come savings account can give me 1% - 1.5% interest at the cost of inflexibility? d) How would you choose among them if you just see the table the first time? | FUND NAME | SYMBOL | FUND FAMILY | FUND TYPE | TRANSACTION FEE | LOAD TYPE | MANAGEMENT FEES | EXPENSE RATIO % | PERFORMANCE - YTD | LIPPER RATING | SHARPE RATIO | GEOGRAPHICAL FOCUS | ESG SCORE | AUM | ISIN | CUSIP | SHARE CLASS | INITIAL INVESTMENT | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | LO FUNDS (CH)-SHORT-TERM MONEY MARKET M (CHF) INC | N/A | LOMBARD ODIER AM (CH) | Money Market | Yes | N/A | 0.12 | N/A | 0.17 | N/A | -0.0491047 | Global | N/A | 131497800 | CH0224283041 | 022428304 | M | 0 | | LO FUNDS - SHORT-TERM MONEY MARKET (CHF) N (CHF) INC | N/A | LOMBARD ODIER FUNDS (EUROPE) (LU) | Money Market | Yes | N/A | 0.11 | N/A | 0.15 | N/A | -0.2619481 | Global | N/A | 4033133.26 | LU0995143889 | 099514388 | N | 1000000 | | LO FUNDS - SHORT-TERM MONEY MARKET (CHF) P (CHF) INC B | N/A | LOMBARD ODIER FUNDS (EUROPE) (LU) | Money Market | No | N/A | 0.11 | N/A | 0.11 | N/A | -0.4999522 | Global | N/A | 2983872.69 | LU0995143616 | 099514361 | P | 3000 | | LO FUNDS SHORT TERM MONEY MARKET (CHF) M (CHF) ACC | N/A | LOMBARD ODIER FUNDS (EUROPE) (LU) | Money Market | Yes | N/A | 0.12 | N/A | 0.13 | N/A | -0.4659314 | Global | N/A | 70949417.03 | LU0995143962 | 099514396 | M | 3000 | | LO FUNDS SHORT TERM MONEY MARKET (CHF) N (CHF) ACC | N/A | LOMBARD ODIER FUNDS (EUROPE) (LU) | Money Market | Yes | N/A | 0.11 | N/A | 0.15 | N/A | -0.2613286 | Global | N/A | 197861086.4 | LU0995143707 | 099514370 | N | 1000000 | | LO FUNDS SHORT-TERM MONEY MARKET (CHF) P (CHF) ACC | N/A | LOMBARD ODIER FUNDS (EUROPE) (LU) | Money Market | No | N/A | 0.11 | N/A | 0.11 | N/A | -0.5001521 | Global | N/A | 37098561.3 | LU0995143533 | 099514353 | P | 3000 | | NEW CAPITAL FUND LUX CASH A (CHF) ACC | N/A | EFG AM (LU) | Money Market | No | N/A | 0.15 | N/A | N/A | N/A | N/A | European Region | N/A | N/A | LU0585204893 | 058520489 | A | 100 | | NEW CAPITAL FUND LUX CASH M (CHF) ACC | N/A | EFG AM (LU) | Money Market | Yes | N/A | 0.1 | N/A | N/A | N/A | N/A | European Region | N/A | N/A | LU1066142883 | 106614288 | M | 100 | | PICTET (CH) ENHANCED LIQUIDITY (CHF) I INC | N/A | PICTET AM (CH) | Money Market | Yes | N/A | 0.1 | N/A | 0.2 | N/A | 0.4490843 | Global | N/A | 398299743.01 | CH0021732877 | 002173287 | I | 1000000 | | PICTET (CH) ENHANCED LIQUIDITY (CHF) P INC | N/A | PICTET AM (CH) | Money Market | Yes | N/A | 0.13 | N/A | 0.19 | N/A | 0.302917 | Global | N/A | 11764160.28 | CH0021732604 | 002173260 | P | 0 | | PICTET (CH) SHORT-TERM MONEY MARKET (CHF) P INC | N/A | PICTET AM (CH) | Money Market | Yes | N/A | 0.08 | N/A | 0.21 | N/A | 0.5407606 | Global | N/A | 885171701.76 | CH0011292312 | 001129231 | P | 0 | | PICTET (CH) SHORT-TERM MONEY MARKET (CHF)I INC | N/A | PICTET AM (CH) | Money Market | Yes | N/A | 0.06 | N/A | 0.21 | N/A | 0.7089342 | Global | N/A | 3509702915.93 | CH0011292304 | 001129230 | I | 0 | | PICTET F(CH) SOVEREIGN SHORT-TERM MONEY MARKET (CHF) I INC | N/A | PICTET AM (CH) | Money Market | Yes | N/A | 0.02 | N/A | 0.17 | N/A | -0.912282 | OECD Countries | N/A | 158788627.14 | CH0038724784 | 003872478 | I | 1000000 | | PICTET F(CH) SOVEREIGN SHORT-TERM MONEY MARKET (CHF) P D | N/A | PICTET AM (CH) | Money Market | Yes | N/A | 0.03 | N/A | 0.16 | N/A | -1.009507 | OECD Countries | N/A | 43457068.85 | CH0038724818 | 003872481 | P | 0 | | PICTET SHORT-TERM MONEY MARKET (CHF) I ACC | N/A | PICTET AM (EUROPE) (LU) | Money Market | Yes | N/A | 0.05 | N/A | 0.2 | N/A | 0.2968874 | International | N/A | 939798485.44 | LU0128499158 | L7597H277 | I | 1000000 | | PICTET SHORT-TERM MONEY MARKET (CHF) P ACC | N/A | PICTET AM (EUROPE) (LU) | Money Market | Yes | N/A | 0.06 | N/A | 0.2 | N/A | 0.2398493 | International | N/A | 235424821.1 | LU0128498267 | L7597H285 | P | 0 | | PICTET SHORT-TERM MONEY MARKET (CHF) P INC | N/A | PICTET AM (EUROPE) (LU) | Money Market | Yes | N/A | 0.06 | N/A | 0.2 | N/A | 0.239971 | International | N/A | 33843548.73 | LU0128498697 | L7597H293 | P | 0 | | PICTET SHORT-TERM MONEY MARKET (CHF) R ACC | N/A | PICTET AM (EUROPE) (LU) | Money Market | Yes | N/A | 0.09 | N/A | 0.19 | N/A | 0.0714629 | International | N/A | 141849110.25 | LU0128499588 | L7597H301 | R | 1000 | | SWISSCANTO (LU) MONEY MARKET FUND RESPONSIBLE CHF DT (CHF) ACC | N/A | SWISSCANTO AM INTL (LU) | Money Market | Yes | N/A | 0.05 | N/A | 0.21 | N/A | -0.1357871 | Switzerland | N/A | 73950000 | LU1481723747 | 148172374 | DT | 100 | | SWISSCANTO (LU) MONEY MARKET FUND RESPONSIBLE CHF FT (CHF) ACC | N/A | SWISSCANTO AM INTL (LU) | Money Market | Yes | N/A | 0.05 | N/A | 0.21 | N/A | -0.1456674 | Switzerland | N/A | 252328200 | LU0141249424 | 014124942 | FT | 0 | | VONTOBEL SWISS MONEY A (CHF) INC | N/A | VONTOBEL AM SA (LU) | Money Market | No | N/A | 0.15 | N/A | 0.23 | N/A | -0.1215246 | Global | N/A | 9656949.07 | LU0120694640 | 012069464 | A | 0 | | VONTOBEL SWISS MONEY I (CHF) ACC | N/A | VONTOBEL AM SA (LU) | Money Market | Yes | N/A | 0.1 | N/A | 0.24 | N/A | -0.0995725 | Global | N/A | 16835406.76 | LU0278086623 | 027808662 | I | 0 | ---
**Author:** ![Jaime](https://forum.mustachianpost.com/letter_avatar_proxy/v4/letter/j/4bbf92/32.png) [@Jaime](https://forum.mustachianpost.com/u/Jaime)\ **Post date:** [May 6, 2023, 8:51am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/19 "2023-05-06T08:51:59Z")
> [@Short guide to CHF fixed income options](https://forum.mustachianpost.com/t/short-guide-to-chf-fixed-income-options/9901/1): > > **Money markets investment / Geldmarktanlagen** > > - Short duration, typically low risk (but some issuers temporarily struggled during the Great Financial Crisis in 2008) > - Except for the lack of esisuisse coverage, those are probably always better than savings accounts (less intermediaries), while being very liquid (a few days to cash out) > - No ETF, only mutual funds > - [UBS](https://www.ubs.com/ch/en/assetmanagement/funds/asset-class/lu0033502740-ubs-money-market-chf-sustainable-p-acc-pd001.html), share class P is for private investors (0.07% TER, 0.93% YTM, 91 days avg duration) > - [CS](https://am.credit-suisse.com/ch/en/asset-management/investment-solutions/fund-search/fund-detail.html/LI0037728396), share class B is for private investors (0.075% TER, 1.21% YTM, 108 days avg duration) > - [ZKB (LU)](https://products.swisscanto.com/products/product/LU0141249424) (0.11% mgmt fee, 1.56% YTM) > - [ZKB (CH)](https://products.swisscanto.com/products/product/CH1220495068?&searchQuery=money&lang=en) (higher risk, 0.11% mgmt fee, 1.89% YTM) The only overlap of these four and the table above is [ZKB (LU)](https://products.swisscanto.com/products/product/LU0141249424)(0.11% mgmt fee, 1.56% YTM) LU0141249424 so I am now zooming into this one. Does YTM mean yield to maturity? I didn’t know this metrics exist for money market fund. and I can only find out this value in factsheet from official website but not on IBKR quote details. Is this number static? How is it related to performance, for example YTD performance? And how to tell ZHK(CH) bears more risk than ZKB(LU)? From their underlyings? ---
**Author:** ![0xLambda](https://forum.mustachianpost.com/user_avatar/forum.mustachianpost.com/0xlambda/32/9735_2.png) [@0xLambda](https://forum.mustachianpost.com/u/0xLambda)\ **Post date:** [May 6, 2023, 10:50am UTC](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321/20 "2023-05-06T10:50:33Z")
> [@Jaime](#): > > b) what does all these share class mean, or how I can find the answer? The same fund is often sold in different share classes for different types of investors (private investors, institutions, pension funds). The different classes have a different fee structure. You find details in the prospectus ([https://www.swissfunddata.ch](https://www.swissfunddata.ch) is helpful for this, usually lists all documents). In practice, the class for private investors will be relevant for most. I’ve seen LO funds where you can get the fund for institutional investors (with 0.01% less fees) if you invest more than 1M or are a private banking customer of them. > [@Jaime](#): > > c) PERFORMANCE - YTD seems to be around 0.2% for the best ones here, do they make sense? How come savings account can give me 1% - 1.5% interest at the cost of inflexibility? Note that YTD performance is year-to-date (first 4 months only), you have to annualise this. While a money market fund has a very small interest rate risk (because of the low average duration), it is not zero and the fund continually marks all holdings to market, the YTD is a combination of yield payouts and these adjustments. > [@Jaime](#): > > d) How would you choose among them if you just see the table the first time? I personally would study the holdings / philosophy (in what does the fund invest) and fee structure. Then, I would choose the cheapest one among the funds that match my risk profile. > [@Short guide to CHF fixed income options](https://forum.mustachianpost.com/t/short-guide-to-chf-fixed-income-options/9901/23): > > Does YTM mean yield to maturity? I didn’t know this metrics exist for money market fund. and I can only find out this value in factsheet from official website but not on IBKR quote details. Is this number static? How is it related to performance, for example YTD performance? Yes, that’s yield to maturity. The number is dynamic and can change every day because for multiple reasons: The value of the underlyings is dynamic and changes, which influences YTM. Moreover, the fund continually has to buy and sell new underlyings (because they expire, people want their money, new people invest, …), which also influences YTM. It is the annualized yield that you would get if the fund held all underlyings to maturity and would not reinvest the proceedings, which of course never happens for a fund. So it is the best approximation for the yield at any moment in time, but not guaranteed. > [@Short guide to CHF fixed income options](https://forum.mustachianpost.com/t/short-guide-to-chf-fixed-income-options/9901/23): > > And how to tell ZHK(CH) bears more risk than ZKB(LU)? From their underlyings? Yes, a higher YTM should usually imply a higher risk, but it is best to check the underlyings. [Next page](https://forum.mustachianpost.com/t/chf-money-market-funds-2023/10321.md?page=2)