The Hidden ‘Core Position’ Broker Setting Costing You 5% APY

Your broker is quietly stealing 5% interest from your account right now.

Here is the dirty secret Wall Street retail brokers don’t want you to notice:

When you deposit cash or sell a stock, that money sits in your ‘uninvested cash’ balance.

Most brokers automatically default this money into a proprietary bank sweep vehicle paying an insulting 0.01% to 0.45% APY.

Meanwhile, safe government money market funds are paying over 5.0% APY.

Where does the difference go? Right into your broker’s pocket. They lend your cash out at 5%+, hand you pennies, and pocket billions in pure margin.

Here is how to fix this passive income leak today:

1. Check Your Broker’s Core Position
Log into your desktop dashboard (apps often hide this) and look for ‘Core Position’ or ‘Cash Sweep Setting.’

2. The Fidelity Move
If you use Fidelity, switch your core position setting from the default bank sweep to SPAXX (Fidelity Government Money Market) or FZFXX. It auto-liqudates when you trade, so it behaves exactly like cash.

3. The Schwab & E*TRADE Trap
Charles Schwab and E*TRADE do NOT let you set a 5% money market as your auto-sweep. You must manually buy funds like SWVXX (Schwab) every time you have idle cash, then sell it 1 day before you want to buy stocks.

4. Vanguard Users
Vanguard automatically defaults your settlement fund into VMFXX (yielding ~5.2%), making them one of the few doing this right out of the box.

Stop leaving thousands in uninvested cash yield on the table.

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