Money market funds and same-day liquidity with Rho Treasury

How the IJTXX money market fund sweep works in Rho Treasury, including same-day liquidity, dividends, and fund information.

Overview

Rho Treasury gives you access to four assets: the IJTXX money market fund sweep, T-Bills, MULSX, and VFSUX. Funds allocated to the sweep are held in your company's name at Apex Clearing Corporation and invested in the JPMorgan U.S. Treasury Money Market Fund (IJTXX), Institutional Share Class.

Money market funds are mutual funds that invest in highly liquid, short-term assets that generally carry relatively low risk. Government money market funds invest at least 99.5% of their assets in cash, government securities, or repurchase agreements collateralized by either. 

IJTXX is a government money market fund that invests only in U.S. Treasury securities and repurchase agreements backed by them. The fund seeks to maintain a stable share price of $1.00.

IJTXX is offered as a cash sweep, so you do not buy or sell it directly. Apex automatically moves your allocated cash into the fund at the end of each business day. In your Rho dashboard, IJTXX appears as an asset with its own balance, yield, and allocation.

IJTXX is the only Rho Treasury asset with same-day settlement.

Fund details

View the fund page or summary prospectus for performance, current yield, holdings, and other fund details. You can also find this information on the J.P. Morgan Asset Management website.

Why can’t I see VFSUX or the IJTXX MMF sweep?

VFSUX and the IJTXX money market fund sweep are available through Apex Ascend, our new custody platform.

If you joined Rho Treasury on or after July 23, 2026, your account is on Ascend, and both options are available to you. If you joined before July 23, your account will migrate to Ascend in the coming months. These options will become available once your migration is complete.

Please contact us with any questions about the migration.

Using the money market fund sweep 

Enroll in the sweep

Before IJTXX is activated, you must accept the sweep terms and choose to invest idle cash in the fund, automatically. 

• New Treasury accounts:  accept the sweep term agreement at onboarding. 

• Existing Treasury accounts:  accept the one-time prompt in the Treasury dashboard.

If you decline, the sweep will remain off and you cannot allocate funds to IJTXX. You can enroll later. We will show the terms again when you add IJTXX in the ‘Edit Portfolio’ flow. 

To unenroll from the sweep, contact Rho. Once the sweep is turned off, uninvested funds will remain in your Treasury account as cash.

Set your allocation

IJTXX follows similar allocation rules as the other Rho Treasury assets:

• Set allocations in 5% increments

• Make sure your total portfolio allocation equals 100%

• Allocate at least 5% to IJTXX if you include it

• Allocate up to 100% to IJTXX

• Buy or redeem any amount, with no minimum

• Any cash remaining after portfolio-based asset purchases or sales is swept into IJTXX.

Before investing, carefully consider the fund's investment objectives, risks, charges, and expenses. The fund invests in U.S. government securities and repurchase agreements collateralized by those securities. It aims to preserve capital, provide liquidity, and earn yield on idle cash.

To set or change your IJTXX allocation, go to Treasury → Edit Portfolio.

Access funds same day

IJTXX is the only Rho Treasury asset with same-day settlement.

Your Treasury dashboard shows available same day balance – the amount you can move to your Rho Checking account that day. It includes your IJTXX balance and any uninvested cash.

All other Treasury assets take at least one business day to settle. T-Bills settle the next business day. MULSX and VFSUX settle in one to two business days.

Withdrawing

The source of your withdrawal depends on the amount you request and your IJTXX balance.

If the withdrawal is equal to or less than your IJTXX balance: Rho redeems the full amount from IJTXX. If you request it before 3:00 PM ET on a business day, funds arrive in your Rho Checking account that day.

If the withdrawal exceeds your IJTXX balance: Rho sells the full amount from your other assets instead. T-Bills, MULSX, and VFSUX are sold proportionally based on your current allocation. Your IJTXX balance remains available for same-day withdrawals. Standard settlement times apply.

Rho does not split a withdrawal between IJTXX and your other assets, and you cannot choose which assets to sell.

Example: Your portfolio holds 20% in IJTXX ($20,000) and 80% in MULSX ($80,000).

If you expect to need cash on short notice, increase your IJTXX allocation in advance.

How IJTXX works with auto-transfer rules

Auto-transfer rules move funds between your Rho Checking and Treasury accounts automatically, so your operating account stays funded without manual transfers. For rule types and setup steps, see Setting up auto-transfer rules.

Transfer rules follow the same withdrawal logic as regular transfers. See above for an example. 

Replenishing your IJTXX balance

Withdrawals reduce your IJTXX balance. Incoming funds replenish IJTXX first. Deposits, T-Bill maturity proceeds, fund dividends, and cash interest bring IJTXX back to its target allocation first. Rho then invests any remaining funds proportionally across your other assets.

IJTXX dividends

IJTXX dividends accrue daily and are paid monthly.

Dividends are paid on the first business day of each month. If the first falls on a weekend or market holiday, payment arrives on the next business day.

Your dividend appears in Treasury → Activity on the day it is paid, and is included in the realized P&L value shown in your Treasury overview. Like all Treasury earnings, it is automatically reinvested according to your target allocation, with IJTXX replenished first.

_{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 investments 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.}