Rho Treasury helps you earn yield on idle cash without adding complexity. It’s built into the Rho platform, so you can manage cash, spend, and investments in one place.
What is Rho Treasury
Rho Treasury invests your cash in short-duration assets held in your company’s name with our custodial partner, Apex Clearing Corporation.
You choose how your cash is allocated, and Rho handles the rest – investing deposits, processing withdrawals, and reinvesting distributions to keep your portfolio aligned with your target allocation.
Available assets
You can hold up to 4 assets simultaneously. Each asset is designed for a different holding duration. Choosing the right asset for your cash horizon is important, as holding a longer-duration asset for too short a period increases your risk of realizing a loss.*
Asset | Description | Learn more |
|---|---|---|
JPMorgan U.S. Treasury Plus Money Market Fund (IJTXX) | A government money market fund holding U.S. Treasury securities and repurchase agreements backed by them. Offered as a cash sweep: your allocation is held as cash and swept into the fund automatically each business day. Best for cash you may need on short notice. We recommend keeping at least 3 months of runway in Rho Checking. | |
Treasury Bills (13-week) | U.S. government-backed securities purchased at a discount and redeemed at face value at maturity. Returns are fixed at purchase with no NAV variability. Suitable for cash you won't need for at least 3 months. | |
Morgan Stanley’s Ultra-Short Income Portfolio (MULSX) | A mutual fund that invests in high-quality, short-duration money market instruments including commercial paper, corporate debt, and asset-backed securities. NAV is variable but designed to remain highly stable. Interest accrues daily and dividends are paid monthly. Suitable for cash you won't need for 4 to 6 months. Redeeming early risks selling at a NAV below your purchase price. | |
Vanguard’s Short-Term Investment-Grade Bond Fund (VFSUX) | A mutual fund that invests in short-term corporate bonds and other investment-grade fixed income securities. Offers the highest yield potential of the four assets, but carries meaningful NAV variability due to interest rate movements. Interest accrues daily and dividends are paid monthly. Suitable for cash you won't need for at least 1 year. Do not allocate near-term operating cash to VFSUX. Closed to new investments. |
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T-Bills are purchased in $1,000 increments. IJTXX, MULSX, and VFSUX are bought at daily NAV price; IJTXX has a fixed $1.00 NAV and no minimum. All investments and earnings, including proceeds at maturity and fund distributions, are automatically reinvested.
Portfolio allocation
You control how your cash is split across assets. Allocations are percentage-based, set in 5% increments, and must total 100%. Three preset strategies are available as starting points, or you can build a custom allocation:
Strategy | Holding period | Allocation | Best for |
|---|---|---|---|
Maximum liquidity | Same day | 100% IJTXX | Cash you may need at any time. |
Capital preservation | 3-6 months | 50% IJTXX | Cash you may need within 3 months. Maximum principal stability, low NAV variability. |
Balanced income | 6-12 months | 25% IJTXX | Cash you won't need for at least 4 months. Adds modest yield while keeping a liquidity buffer. |
Custom | Your choice! |
Yield and fees
Your Treasury dashboard shows your net yield*, based on your current allocation and asset yields. Yields are variable, can change at any time, and are not guaranteed. Net yield:
Reflects the weighted performance of your portfolio
Updates automatically as yields change with the market
Is net of Rho’s annual advisory fee
Rho Treasury, RBB Treasury LLC (a Rho subsidiary), charges an annualized management fee of 0.15%–0.60% based on assets under management (AUM), billed monthly. AUM includes the combined balance of your Rho Checking and Treasury accounts. The fee is deducted from your portfolio cash balance; if insufficient cash is available, Rho will automatically sell a small amount of holdings to cover it.
Getting started
To open a Rho Treasury account, your business must:
Be a U.S.-registered business
Operate primarily in the United States
Have at least one founder based in the United States
Maintain at least $50,000 in total deposits
If you’re eligible, go to the Treasury tab in your Rho dashboard and follow the steps to apply. The application takes less than 10 minutes, and approval typically takes 2 business days. You may be asked to provide supporting documents during signup.
Visit rho.co/treasury to sign up.
Related: Understanding Rho Treasury · Managing your Treasury account
* Investment management and advisory services provided by RBB Treasury LLC dba Rho Treasury, an SEC-registered investment adviser and subsidiary of Rho. RBB Treasury LLC facilitates investments in securities: investments are not deposits and are not FDIC-insured. Investments are not bank guaranteed, and may lose value. Investment products involve risk, including the possible loss of the principal invested, and past performance does not indicate future results. Registration with the SEC does not imply a certain level of skill or training. Treasury and custodial services provided through Apex Clearing Corp. ("Apex") and Interactive Brokers LLC ("Interactive"), registered broker dealers and members FINRA/SIPC. Interactive rates may vary from Apex rate shown above. For additional information about investment management and advisory services provided by Rho Treasury, please refer to Rho Treasury’s ADV-2A Wrap Fee Brochure.
This material presented is for informational purposes only and should not be construed as legal, tax, accounting or investment advice. Under no circumstances should any of this material be used for or considered as an offer to sell or a solicitation of any offer to buy an interest in any securities. Any analysis or discussion of financial planning matters, investments, sectors or the market generally are based on current information, including from public sources, that we consider reliable, but we do not represent that any research or the information provided is accurate or complete, and it should not be relied on as such. Our views and opinions are current at the time of publication and are subject to change. You should consult with your attorney or relevant professional advisor for advice particular to your personal or business situation.
Rho Treasury is not insured by the FDIC. Rho Treasury are not deposits or other obligations of Webster Bank, a division of Santander Bank, N.A. , or American Deposit Management Co.’s partner banks, and are not guaranteed by Webster Bank a division of Santander Bank, or American Deposit Management Co.’s partner banks. Rho Treasury products are subject to investment risks, including possible loss of the principal invested.