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I’m confused about T-bills
@skumar Treasury Bills are sold at a discount rate. The discount is determined at auction and is announced as the “high rate” Latest high rate for 13-week tbill (91-day) was 5.225% 29,000-(29,000(0.05225/360)91) = 28,616.98 You will be charged $28,616.98 and then 13-weeks later you will... -
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Do the annualized yields provided for funds/etfs (e.g. TTM and 30-day SEC) account for the funds' expense ratio?
@leejr But Schwab’s definition says Morningstar calculates TTM in part based on NAV. And SEC Yield is in part based on the funds share price. -
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Do the annualized yields provided for funds/etfs (e.g. TTM and 30-day SEC) account for the funds' expense ratio?
@petricia Where else would the ER come from? For a MMF, since they distribute any increase in value to maintain $1 per share that is the pot of money they would have to extract their fee from. Just look at the difference between, for example, SWVXX and SNAXX; the Investor class and Ultra class... -
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Do the annualized yields provided for funds/etfs (e.g. TTM and 30-day SEC) account for the funds' expense ratio?
@petricia ER is accounted for in NAV/share price so yes. If someone thinks they’re not then I would ask how else are those expenses being paid?