There is possibly some unintentional misleading information in your post regarding SWVXX (Schwab Value Advantage Money Fund® - Investor Shares) when used to compare with the TSP G Fund. Yes, SWVXX is a fairly low-cost commercial alternative to the TSP G Fund. But not as good.
It is true that as of 05/12/2023, the SWVXX 7-Day Yield (without waivers) is 4.89%. This yield is the average income paid out over the previous seven days, assuming interest income is not reinvested, with the effect of all applicable waivers. A 7-day yield may only be of interest to day traders.
Possibly more usefully, SVWXX's Cumulative Returns are: +0.39% for 1 Month; +1.12% for 3 Months; and +1.48% YTD. Its Annualized Returns are: +3.03% for 1 year; +1.04% for 3 years; and +1.38% for 5 years.
In comparison, TSP G Fund's Annualized Returns are: 3.62% for 1 year; 2.04% for 3 years; and 2.17% for 5 years.
SWVXX's Net Expense Ratio is 0.340%. Anything under 0.75% is considered to be a respectable ratio for an actively managed commercial portfolio. But, Schwab's Ratio is nearly 6 times the TSP G Fund's Net Expense Ratio of 0.057%.
Please note, it is possible that I may be misinterpreting data above taken from these following sources:
In any case, good luck to all those trying to manage their retirement portfolios under either the TSP or commercial accounts. The decades of fairly predictable high returns with modest risk are over for a good while to come!
That Schwab MM fund is now earning 4.90%...
https://www.schwabassetmanagement.com/products/swvxx
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