Best place to park cash in New York this week
After New York income tax (top rate 10.90%); data as of the dates shown per row.
#1 after state tax
4.62%
52-wk T-bill · headline 4.62%
Best T-bill
4.62%
52-wk T-bill · 100% state-tax-free
Best daily-liquid fund / ETF
4.01%
TFLO
Default bank sweep (e.g. Merrill)
0.01%
what idle cash often earns
New York has a 50% rule. New York only lets fund dividends pass through as state-tax-exempt if at least 50% of the fund's assets were U.S. government obligations at the end of each quarter. Funds that fail get zero exemption here, even if part of their income came from Treasuries. That is why some government money funds (e.g. SPAXX, SNOXX) rank much lower here than in other states.
Using state rate 10.90%. Default = top bracket. Rates: Tax Foundation 2026. Local income taxes not included.
Ranking for New York residents
| # | Where to park cash | Yield | State-exempt share used | After state tax only | After fed + state (ranked) | Yield type / as of |
|---|---|---|---|---|---|---|
| 1 | 52-wk T-billT-bill 52-Week Treasury bill (latest auction) | 4.62% | 100.0% | 4.62% | 3.51% | auction high investment rate (bond-equivalent) Sep 29, 2026 |
| 2 | 26-wk T-billT-bill 26-Week Treasury bill (latest auction) | 4.37% | 100.0% | 4.37% | 3.32% | auction high investment rate (bond-equivalent) Oct 19, 2026 |
| 3 | 17-wk T-billT-bill 17-Week Treasury bill (latest auction) | 4.31% | 100.0% | 4.31% | 3.28% | auction high investment rate (bond-equivalent) Oct 14, 2026 |
| 4 | 13-wk T-billT-bill 13-Week Treasury bill (latest auction) | 4.20% | 100.0% | 4.20% | 3.19% | auction high investment rate (bond-equivalent) Oct 19, 2026 |
| 5 | 8-wk T-billT-bill 8-Week Treasury bill (latest auction) | 4.13% | 100.0% | 4.13% | 3.14% | auction high investment rate (bond-equivalent) Oct 15, 2026 |
| 6 | 4-wk T-billT-bill 4-Week Treasury bill (latest auction) | 4.07% | 100.0% | 4.07% | 3.09% | auction high investment rate (bond-equivalent) Oct 15, 2026 |
| 7 | 6-wk T-billT-bill 6-Week Treasury bill (latest auction) | 4.05% | 100.0% | 4.05% | 3.08% | auction high investment rate (bond-equivalent) Oct 20, 2026 |
| 8 | TFLOETF iShares Treasury Floating Rate Bond ETF | 4.01% | 99.2% | 4.01% | 3.04% | 30-day SEC yield Oct 19, 2026 |
| 9 | VUSXXMoney fund Vanguard Treasury Money Market Fund | 3.91% | 100.0% | 3.91% | 2.97% | 7-day SEC yield Oct 20, 2026 |
| 10 | SHVETF iShares 0-1 Year Treasury Bond ETF | 3.85% | 89.8% | 3.81% | 2.88% | 30-day SEC yield Oct 20, 2026 |
| 11 | VBILETF Vanguard 0-3 Month Treasury Bill ETF | 3.77% | 100.0% | 3.77% | 2.87% | 30-day SEC yield Oct 19, 2026 |
| 12 | SGOVETF iShares 0-3 Month Treasury Bond ETF | 3.75% | 95.1% | 3.73% | 2.83% | 30-day SEC yield Oct 20, 2026 |
| 13 | VMFXXMoney fund Vanguard Federal Money Market Fund (settlement fund) | 3.83% | 66.6% | 3.69% | 2.77% | 7-day SEC yield Oct 20, 2026 |
| 14 | SNSXXMoney fund Schwab U.S. Treasury Money Fund - Investor Shares | 3.62% | 100.0% | 3.62% | 2.75% | 7-day (with waivers) yield Oct 20, 2026 (manual capture) |
| 15 | FDLXXMoney fund Fidelity Treasury Only Money Market Fund | 3.56% | 98.7% | 3.55% | 2.70% | 7-day yield Oct 20, 2026 |
| 16 | XBILETF F/m US Treasury 6 Month Bill ETF | 4.00% | 0.0% † | 3.56% | 2.60% | 30-day SEC yield Sep 30, 2026 |
| 17 | USFRETF WisdomTree Floating Rate Treasury Fund | 3.98% | 0.0% † | 3.55% | 2.59% | 30-day SEC yield Oct 20, 2026 |
| 18 | BILSETF SPDR Bloomberg 3-12 Month T-Bill ETF | 3.83% | 0.0% † | 3.41% | 2.49% | 30-day SEC yield Oct 20, 2026 |
| 19 | TBILETF F/m US Treasury 3 Month Bill ETF | 3.81% | 0.0% † | 3.39% | 2.48% | 30-day SEC yield Sep 30, 2026 |
| 20 | BILETF SPDR Bloomberg 1-3 Month T-Bill ETF | 3.75% | 0.0% † | 3.34% | 2.44% | 30-day SEC yield Oct 20, 2026 |
| 21 | CLIPETF Global X 1-3 Month T-Bill ETF | 3.70% | 0.0% † | 3.30% | 2.41% | 30-day SEC yield Oct 20, 2026 |
| 22 | SNOXXMoney fund Schwab Treasury Obligations Money Fund - Investor Shares | 3.62% | 0.0% † | 3.23% | 2.36% | 7-day (with waivers) yield Oct 20, 2026 (manual capture) |
| 23 | FDRXXMoney fund Fidelity Government Cash Reserves (core position) | 3.58% | 0.0% † | 3.19% | 2.33% | 7-day yield Oct 20, 2026 |
| 24 | FZFXXMoney fund Fidelity Treasury Money Market Fund (core position) | 3.54% | 0.0% † | 3.15% | 2.30% | 7-day yield Oct 20, 2026 |
| 25 | SPAXXMoney fund Fidelity Government Money Market Fund (core position) | 3.52% | 0.0% † | 3.14% | 2.29% | 7-day yield Oct 20, 2026 |
| 26 | Schwab cashBroker cash Schwab Intelligent Portfolios Sweep Program (robo accounts only) | 3.47% | 0.0% | 3.09% | 2.26% | APY Oct 1, 2026 |
| 27 | Interactive Brokers cashBroker cash Interactive Brokers Pro: interest on USD cash (balances above $10k) | 3.38% | 0.0% | 3.01% | 2.20% | rate Oct 21, 2026 |
| 28 | Merrill cashBroker cash Merrill Edge / Merrill Lynch Bank Deposit Program (Tier 1, < $250k) | 0.01% | 0.0% | 0.01% | 0.01% | APY Oct 20, 2026 |
- † Issuer says the fund did NOT meet the 50%-at-each-quarter-end test CA/CT/NY require, so none of its dividends are exempt there.
- † State-exempt share unknown (issuer tax doc not retrieved) — shown as fully state-taxable.
- † Issuer tax doc does not say whether the fund met the CA/CT/NY 50% test — shown as fully taxable (conservative). Could be better.
Note: State rate only. NYC/Yonkers local income taxes are NOT included.
Ranked by after federal + state tax (change the selectors above). Longer bills lock in today's rate for longer and the 52-week only auctions every four weeks; funds and ETFs float daily. Compare like-for-like horizons.
How we got these numbers
After-tax yield = yield × (1 − federal rate − state rate × (1 − state-exempt share)). Treasury bills are 100% exempt from state tax. Fund exempt shares come from each issuer's 2025 tax documents (the latest published; 2026's share will differ). Bank sweep interest is fully taxable. Full methodology.
Not financial advice. Rankings are mechanical calculations from published yields and issuer tax data. They ignore fees you pay your broker, trading spreads, minimums, liquidity, and your full tax picture. Check the source links before acting.
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