*The Funds’ Investor Shares have no initial investment minimum; however, Schwab systems require a minimum of $1 per trade. Minimums are subject to change.

1. May be subject to state, local, and the Federal Alternative Minimum Tax. Capital gains are not exempt from Federal taxes.
2. Fund expenses and other fees may apply.
3. Qualifies as a “retail money market fund,” which means it is available for investment by natural persons only. The Fund reserves the right to do the following: involuntarily redeem a shareholder’s shares after providing 60 days’ written notice if the shareholder does not satisfy the eligibility requirements for a retail money market fund (i.e., the shareholder is not a natural person); and deny purchase of Fund shares to investors who do not satisfy the eligibility requirements to invest in a retail money market fund (i.e., investor is not a natural person).
4. The 7-Day Yield is the average income paid out over the previous seven days assuming interest income is not reinvested and it reflects the effect of all applicable waivers. Absent such waivers, the fund’s yield would have been lower.
5. Schwab AMT Tax-Free Money Fund’s and Schwab Municipal Money Fund’s dividends typically are exempt from federal income tax, but are subject to state and local personal income taxes. Dividends from Schwab California Municipal Money Fund and Schwab New York Municipal Money Fund typically are exempt from federal and the respective state’s income taxes. Schwab Municipal Money Fund: Up to 20% of the fund’s net assets may be invested in securities subject to federal income tax and/or personal state income tax, such as other state specific municipal obligations, government securities or repurchase agreements. When the fund makes such investments, a higher portion of the fund’s distributions will likely be subject to federal income tax and/or state personal income tax. As a temporary defensive position, the investment adviser may invest any portion of the fund’s assets in securities subject to federal income tax and/or state personal income tax, or may hold any portion of the fund’s assets in cash. When the fund engages in such activities, it may not achieve its investment goal.Schwab AMT Tax-Free Money Fund: Up to 20% of the fund’s net assets may be invested in securities subject to federal income tax (including the federal alternative minimum tax (AMT)), such as government securities or repurchase agreements. When the fund makes such investments, a higher portion of the fund’s distributions will likely be subject to federal income tax or the federal alternative minimum tax. Up to 20% of the fund’s net assets may be invested in securities subject to federal income tax (including the federal alternative minimum tax (AMT)), such as government securities or repurchase agreements. When the fund makes such investments, a higher portion of the fund’s distributions will likely be subject to federal income tax or the federal alternative minimum tax.Schwab California Municipal Money Fund and Schwab New York Municipal Money Fund: Up to 20% of the fund’s net assets may be invested in securities subject to federal income tax and/or the respective state’s income tax, such as municipal obligations from states other California or New York, respectively, government securities or repurchase agreements. When the fund makes such investments, a higher portion of the fund’s distributions will likely be subject to federal income tax and/or the respective state personal income tax. As a temporary defensive position, the investment adviser may invest any portion of the fund’s assets in securities subject to federal income tax and/or the respective state’s income tax, or may hold any portion of the fund’s assets in cash. When the fund engages in such activities, it may not achieve its investment goal.

Investors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can view and download a prospectus by visiting Investor Information or by calling 800-435-4000. Please read the prospectus carefully before investing.

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You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares if the Fund’s board determines that the fee is in the best interests of the Fund. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time.

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Charles Schwab & Co., Inc. and Charles Schwab Bank, SSB are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products and services, including the Schwab One brokerage account, are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit and lending products are offered by Charles Schwab Bank, SSB, Member FDIC and an Equal Housing Lender.

Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab Funds, and Schwab, Member SIPC, the distributor for Schwab Funds, are separate but affiliated companies and subsidiaries of Charles Schwab.

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