Most of us need to keep part of our wealth in cash. This could be our emergency fund, money for an upcoming renovation or wedding, or savings that we intend to invest over the coming months.
While this money needs to remain relatively liquid, leaving a large amount of cash in a low-interest savings account can mean giving up potential returns.
One alternative is a cash management solution such as Endowus Cash Smart.
Instead of paying a predetermined bank interest rate, Cash Smart invests our money in cash funds, money market funds and, depending on the portfolio, short-duration bond funds.
As at 31 July 2026, Endowus Cash Smart offers net yields of 1.2% p.a. for Secure, 2.1% p.a. for Enhanced and 2.4% p.a. for Ultra. These yields are after fees and are not guaranteed.
What Is Endowus Cash Smart?
Endowus Cash Smart is a cash management solution that invests in professionally managed funds holding instruments such as bank deposits, money market securities and short-duration bonds.
This means Cash Smart is an investment product, not a bank savings account.
Returns depend on the performance of the underlying funds. While these portfolios are designed to be relatively low risk compared to investments such as equities, returns are not guaranteed and our investment value can fall.
Endowus currently offers three Cash Smart portfolios:
|
Cash Smart Portfolio |
Net Yield (p.a.)* |
Relative Risk |
Broad Investment Mix |
|
Secure |
1.2% |
Lowest |
Cash and money market funds |
|
Enhanced |
2.1% |
Moderate |
Money market and short-duration bond funds |
|
Ultra |
2.4% |
Highest |
Mainly short-duration bond and money market funds |
*Net yields after fees, calculated as at 31 July 2026. Yields are not guaranteed.
The main thing to understand is that higher potential yields come with higher investment risk.
Endowus Cash Smart Secure: Currently 1.2% p.a.
Cash Smart Secure is the lowest-risk of the three portfolios.
It currently invests in:
- 50% Fullerton SGD Cash Fund
- 50% LionGlobal SGD Enhanced Liquidity Fund
Endowus positions Secure for immediate and near-term cash needs, with capital preservation as its main focus. Its current net yield is 1.2% p.a., after fund-level fees and the Endowus Fee. Its historical maximum loss is listed as -0.05%.
Endowus Cash Smart Enhanced: Currently 2.1% p.a.
Cash Smart Enhanced takes slightly more investment risk to target a higher yield.
Its current allocation is:
- 20% Fullerton SGD Cash Fund
- 30% LionGlobal SGD Enhanced Liquidity Fund
- 50% UOB United SGD Fund
Compared to Secure, Enhanced has greater exposure to short-duration fixed income and can therefore experience larger or longer drawdowns. Its current net yield is 2.1% p.a., while Endowus lists its historical maximum loss at -1.55%.
Endowus Cash Smart Ultra: Currently 2.4% p.a.
Cash Smart Ultra offers the highest current yield of the three portfolios, but also takes on the greatest risk.
It currently comprises:
- 15% Fullerton SGD Cash Fund
- 20% LionGlobal SGD Enhanced Liquidity Fund
- 35% UOB United SGD Fund
- 10% Fullerton Short Term Interest Rate Fund
- 10% LionGlobal Short Duration Fund
- 10% PIMCO Low Duration Income Fund
Because Ultra has greater exposure to short-duration bond funds, drawdowns can be sharper and recovery periods can be longer. Its current net yield is 2.4% p.a., while Endowus lists its historical maximum loss at -2.88%.
Secure Vs Enhanced Vs Ultra: Which Should We Choose?
It may be tempting to choose Ultra because it offers the highest current yield.
However, for short-term cash, our priority should also be when we need the money and how much volatility we are willing to tolerate. If we may need the money soon, avoiding short-term losses could matter more than earning an additional percentage point of yield.
Investors with more time and a higher tolerance for temporary fluctuations may be more comfortable with Enhanced or Ultra.
This is why not all cash management portfolios should be viewed as having the same risk simply because they contain the word “cash”.
Is Endowus Cash Smart The Same As A Savings Account?
The short answer is no.
Eligible Singapore-dollar bank deposits are also protected under Singapore’s Deposit Insurance Scheme, subject to prevailing limits.
Endowus Cash Smart is different. It is not a bank deposit and is not capital-guaranteed. Investors are exposed to investment risks, including the possible loss of part of their principal. Endowus also states that Cash Smart has no lock-up period, but redeeming an investment should not be confused with instant access to money held in a bank account.
For this reason, Cash Smart may be better viewed as a complement to our savings account than a complete replacement.
Why Consider A Cash Management Account?
Cash management solutions can be useful for money that we do not need immediately but still want to keep relatively liquid. Unlike many higher-interest savings accounts, we generally do not need to fulfil conditions such as salary crediting, minimum card spending or buying another financial product.
There is also no fixed maturity date as there would be with a fixed deposit.
This can make cash management portfolios useful for money that is:
- waiting to be invested;
- earmarked for an expense several months away; or
- part of our short-term cash reserves.
However, the additional flexibility comes with investment risk.
Read Also: Complete Guide To Cash Management Accounts In Singapore
What Fees Does Endowus Cash Smart Charge?
Endowus currently charges an Endowus Fee of 0.15% p.a. for its cash management solutions. The underlying funds also charge fund-level fees. Endowus rebates trailer fees that it receives from fund managers through its Cashback mechanism.
Cash Smart has no separate sales or transaction fees. The 1.2%, 2.1% and 2.4% p.a. yields for Secure, Enhanced and Ultra are already stated net of fees.
Can We Use SRS Funds For Endowus Cash Smart?
Cash Smart can be used with both cash and Supplementary Retirement Scheme (SRS) savings. This may be useful for investors with uninvested SRS funds who want an alternative to leaving the money as cash.
As with investing our cash savings, we still need to ensure that the Cash Smart portfolio we select matches our investment time horizon and risk tolerance.
Endowus Cash Smart Vs T-Bills, Fixed Deposits And Savings Accounts
Singaporeans have several choices for managing spare cash, including savings accounts, fixed deposits, Singapore Savings Bonds (SSBs), Treasury bills (T-bills), money market funds and cash management portfolios.
They serve slightly different purposes.
Savings accounts offer immediate liquidity and eligible deposit-insurance protection.
Fixed deposits provide a predetermined interest rate but generally require us to commit our money for a fixed period.
The Singapore Government backs T-bills and provides a known return when held to maturity, but investors usually commit their money for six months or one year.
Cash management portfolios offer greater flexibility and diversification, but returns fluctuate, and capital is not guaranteed.
For context, Endowus’ August 2026 comparison puts the average yield on the 30 July 2026 six-month T-bill at 1.47%, while its Cash Smart Secure, Enhanced and Ultra portfolios were yielding 1.2%, 2.1% and 2.4% p.a. respectively as at 31 July 2026.
This does not mean that the product with the highest stated yield is necessarily the best choice. Risk, liquidity and certainty of returns also matter.
Read Also: T-Bills vs SSB vs Fixed Deposits vs Cash Management Accounts: What Is The Best Way To Invest Your Cash Savings
Invest Better With Endowus
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