How is the USD Cash Yield portfolio different from Bank USD Deposit?

There are a few key differences between a classic USD deposit account at a bank and a USD Cash Yield portfolio.

 USD Cash Yield Bank USD Deposit
Underlying  0-3 month US Treasury Bank Deposit (Direct Bank) 
Currency USD USD
Lock-up period None None
Minimum amount None Depend on the bank
Capital fluctuation Yes No
Protected by Deposit Protection SchemeNoYes, up to $500,000 HKD per depositor per scheme member

*The yield to maturity is provided by the ETF fund manager and is not a guarantee for future returns. The latest annualized yield is as of 30 April 2024, and may change depend on market conditions

#Deposit account benchmarks are taken from standard USD deposit rates offered by the top [10] Hong Kong banks (in terms of total assets). The rates are as of 21 May 2024