UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-22311
Schwab Strategic Trust
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
(Address of principal executive offices) (Zip code)
Marie Chandoha
Schwab Strategic Trust
211 Main Street, San Francisco, California 94105
Schwab Strategic Trust
211 Main Street, San Francisco, California 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: August 31
Date of reporting period: February 29, 2012
Item 1: Report(s) to Shareholders.
Semiannual report dated February 29, 2012, enclosed
Schwab U.S. ETFs
Schwab U.S. Broad Market ETFtm
Schwab U.S. Large-Cap ETFtm
Schwab U.S. Large-Cap
Growth ETFtm
Schwab U.S. Large-Cap
Value ETFtm
Schwab U.S. Mid-Cap ETFtm
Schwab U.S. Small-Cap ETFtm
Schwab U.S. Dividend
Equity ETFtm
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This wrapper is not part of the shareholder report.
Schwab U.S. ETFs
Semiannual Report
February 29, 2012
Schwab U.S. Broad Market ETFtm
Schwab U.S. Large-Cap ETFtm
Schwab U.S. Large-Cap
Growth ETFtm
Schwab U.S. Large-Cap
Value ETFtm
Schwab U.S. Mid-Cap ETFtm
Schwab U.S. Small-Cap ETFtm
Schwab U.S. Dividend
Equity ETFtm
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In This Report
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Fund investment adviser: Charles Schwab Investment Management, Inc. (CSIM).
Distributor: SEI Investments Distribution Co. (SIDCO).
Distributor: SEI Investments Distribution Co. (SIDCO).
The Sector/Industry classifications in this report use the Global Industry Classification Standard (GICS) which was developed by and is the exclusive property of Morgan Stanley Capital International Inc. (MSCI) and Standard & Poor’s (S&P). GICS is a service mark of MSCI and S&P and has been licensed for use by Charles Schwab & Co., Inc. The Industry classifications used in the schedules of Portfolio Holdings are sub-categories of Sector classifications.
Performance at a Glance
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Total Return for | ||
the Report Period* | ||
Schwab U.S. Broad Market ETFtm | ||
(Ticker Symbol: SCHB) | ||
NAV Return1 | 13.28% | |
Market Price Return1 | 13.29% | |
Dow Jones U.S. Broad Stock Market IndexSM | 13.29% | |
ETF Category: Morningstar Large Blend2 | 12.89% | |
Performance Details | page 6 | |
Schwab U.S. Large-Cap ETFtm | ||
(Ticker Symbol: SCHX) | ||
NAV Return1 | 13.27% | |
Market Price Return1 | 13.23% | |
Dow Jones U.S. Large-Cap Total Stock Market IndexSM | 13.31% | |
ETF Category: Morningstar Large Blend2 | 12.89% | |
Performance Details | page 7 | |
Schwab U.S. Large-Cap Growth ETFtm | ||
(Ticker Symbol: SCHG) | ||
NAV Return1 | 13.93% | |
Market Price Return1 | 13.96% | |
Dow Jones U.S. Large-Cap Growth Total Stock Market IndexSM | 14.00% | |
ETF Category: Morningstar Large Growth2 | 13.09% | |
Performance Details | page 8 | |
Schwab U.S. Large-Cap Value ETFtm | ||
(Ticker Symbol: SCHV) | ||
NAV Return1 | 12.55% | |
Market Price Return1 | 12.67% | |
Dow Jones U.S. Large-Cap Value Total Stock Market IndexSM | 12.64% | |
ETF Category: Morningstar Large Value2 | 12.31% | |
Performance Details | page 9 | |
Schwab U.S. Mid-Cap ETFtm | ||
(Ticker Symbol: SCHM) | ||
NAV Return1 | 13.99% | |
Market Price Return1 | 13.90% | |
Dow Jones U.S. Mid-Cap Total Stock Market IndexSM | 14.09% | |
ETF Category: Morningstar Mid-Cap Blend2 | 12.59% | |
Performance Details | page 10 | |
Schwab U.S. Small-Cap ETFtm | ||
(Ticker Symbol: SCHA) | ||
NAV Return1 | 13.09% | |
Market Price Return1 | 13.11% | |
Dow Jones U.S. Small-Cap Total Stock Market IndexSM | 13.10% | |
ETF Category: Morningstar Small Blend2 | 13.08% | |
Performance Details | page 11 | |
Schwab U.S. Dividend Equity ETFtm** | ||
(Ticker Symbol: SCHD) | ||
NAV Return1 | 10.46% | |
Market Price Return1 | 10.50% | |
Dow Jones U.S. Dividend 100 IndexSM | 10.58% | |
ETF Category: Morningstar Large Blend2 | 13.05% | |
Performance Details | page 12 | |
All fund and index figures on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized. Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price (not NAV). Brokerage commissions will reduce returns.
Index ownership—“Dow Jones” and the names identifying the Dow Jones Indexes are service marks of Dow Jones Trademark Holdings, LLC, (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are paid by CSIM. The Schwab U.S. ETFs, based on their respective Dow Jones Indexes, are not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such products.
* | The report period covers the six months beginning September 1, 2011 through February 29, 2012, except where noted. |
** | Total returns are since inception date of 10/20/11. Inception represents the date that the shares began trading in the secondary market. The fund’s total return may differ from the return disclosed in the Financial Highlights, as the total return in the Financial Highlights is calculated from the commencement of operations date which is the first day the NAV was determined. |
1 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
2 | The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
2 Schwab U.S. ETFs
From the President
Marie Chandoha is President and CEO of Charles Schwab Investment Management, Inc., and the funds covered in this report.
Dear Shareholder,
As President and CEO of Charles Schwab Investment Management, Inc., I’d like to thank you for trusting us with your investment needs, and for reading this important report concerning the Schwab U.S. ETFs.
U.S. stocks generated impressive returns for the six months ended February 29, 2012, quickly recovering from an early period selloff amid an improving economic landscape and supportive corporate fundamentals. The S&P 500 Index generated a 13.31% total return in that environment, outperforming the 13.05% gain achieved by the Dow Jones Industrial Average, and the 12.40% total return of the small-cap Russell 2000 Index. In addition, growth stocks generally outperformed value stocks, while medium-capitalization stocks generally provided slightly higher returns than small- and large-cap stocks.
Equities started the period on a sour note, selling off sharply in September 2011. A worrisome soft patch in U.S. economic data that fueled fears of recession was one catalyst for the decline, while lingering market reaction to Standard & Poor’s August downgrade of long-term Treasuries—and worries about possible credit aftershocks—was another. Also weighing on stocks was data that began to suggest an unexpectedly quick deceleration of economic growth in China, where the country’s central bank was striving to temper inflation by raising short-term interest rates.
Concerns that the euro zone’s sovereign debt crisis could spread to the “core” countries of France and Germany fueled substantial market volatility, weighing on U.S. stocks as well. With ongoing developments frequently becoming media headlines, investor anxiety and stock market fluctuations spiked higher. Illustrating this behavior was the performance of the CBOE Volatility Index, or CBOE VIX. This “investor fear gauge”—which measures the implied volatility of stock index option prices—surged above 45.0 in mid-October, more than double the trailing 20-year historical average. In an effort to stabilize the financial markets amid this
Asset Class Performance Comparison % returns during the report period
This graph compares the performance of various asset classes during the report period. Final performance figures for the period are in the key below.
13.31% | S&P 500® Index: measures U.S. large-cap stocks | |||
12.40% | Russell 2000® Index: measures U.S. small-cap stocks | |||
4.26% | MSCI EAFE® Index: measures (in U.S. dollars) large-cap stocks in Europe, Australasia and the Far East | |||
2.73% | Barclays Capital U.S. Aggregate Bond Index: measures the U.S. bond market | |||
0.01% | Three-Month U.S. Treasury Bills (T-bills): measures short-term U.S. Treasury obligations |
These figures assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and you cannot invest in them directly. Remember that past performance is not an indication of future results.
Data source: Index provider websites and Charles Schwab Investment Management, Inc.
Nothing in this report represents a recommendation of a security by the investment adviser.
Manager views and portfolio holdings may have changed since the report date.
Schwab U.S. ETFs 3
From the President continued
U.S. stocks generated impressive returns, quickly recovering from an early period selloff amid an improving economic landscape and supportive corporate fundamentals.
volatile and uncertain backdrop, the Federal Reserve and European Central Bank acted in close coordination to ensure that markets had ample liquidity.
The new year brought with it a sharp change in investors’ risk tolerance, however. Improvement in U.S. economic prospects helped, as the national unemployment rate declined from 9.0% in September to an estimated 8.3% in February. In another positive development, inflation-adjusted U.S. economic growth accelerated to a 3.0% seasonally adjusted annual pace in the final quarter of 2011,* up sharply from an anemic 0.4% rate during the first quarter. Tentative signs that the housing market may be improving also played a role in shifting investor sentiment, with initial data revealing that existing home sales increased at a nearly 26% annualized rate in the final quarter of 2011. Construction activity and homebuilder sentiment improved as well, providing further evidence of a possible turnaround. In addition, optimism rose for a long-awaited solution to the sovereign debt crisis faced by Greece, while data out of China suggested that the country’s economy was achieving a “soft landing”—moderate but relatively robust growth.
Supportive corporate fundamentals helped equities start 2012 on firmer footing as well. Corporate profits for S&P 500 companies topped analyst estimates for a twelfth straight quarter during the final three months of 2011. Meanwhile, stock valuations remained approximately in line with trailing five-year averages, as gauged by price-to-earnings ratios for the S&P 500 Index. Amid that backdrop, stocks posted their best start-of-the-year performances in more than a decade for the combined months of January and February, and CBOE VIX levels decreased to historically average levels as stock market volatility and trading activity declined.
For information concerning the characteristics and investment performance of the Schwab U.S. ETFs, please read the pages that follow this letter.
We also encourage you to review your investment portfolio regularly to make sure it meets your current financial plan. For answers to questions you may have or to consult our website for more information, please visit www.schwabetfs.com. We are also happy to hear from you at 1-800-435-4000.
Sincerely,
Indices are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. Index return figures assume dividends and distributions were reinvested.
* | The figure cited represents the second estimate from the U.S. Bureau of Economic Analysis (BEA). The BEA provides three estimates of quarterly U.S. economic growth: an “initial” estimate, a “second” estimate, and a “final” estimate. Successive estimates are based upon more complete source data, and may result in a faster or slower estimated pace of inflation-adjusted economic activity. |
4 Schwab U.S. ETFs
Fund Management
Agnes Hong, CFA, a managing director and portfolio manager of the investment adviser, has day-to-day responsibility for the co-management of the funds. Prior to joining the firm in September 2009, she worked for five years as a portfolio manager for a major asset management firm. Prior to that, she worked in strategy and management consulting for five years. In addition, she also worked as a senior product manager servicing global financial services clients. | ||
Ferian Juwono, CFA, a managing director and portfolio manager of the investment adviser, has day-to-day responsibility for the co-management of the funds. Prior to joining the firm in May 2010, he was a portfolio manager at a major asset management firm for three years. Before that position, he was a senior business analyst at a major financial firm for nearly two years. In addition, he was a senior financial analyst at a regional banking firm for four years. |
Schwab U.S. ETFs 5
Schwab U.S. Broad Market ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab U.S. Broad Market ETFtm (11/3/09) | |||||||||||||||
NAV Return2 | 13.28 | % | 4.76 | % | 15.69 | % | |||||||||
Market Price Return2 | 13.29 | % | 4.57 | % | 15.63 | % | |||||||||
Dow Jones U.S. Broad Stock Market IndexSM | 13.29 | % | 4.61 | % | 15.77 | % | |||||||||
ETF Category: Morningstar Large Blend3 | 12.89 | % | 4.92 | % | 14.47 | % |
Fund Expense Ratio4: 0.06%
Statistics
Number of Holdings | 1,582 | |||
Weighted Average Market Cap ($ x 1,000,000) | $85,932 | |||
Price/Earnings Ratio (P/E) | 16.7 | |||
Price/Book Ratio (P/B) | 2.3 | |||
Portfolio Turnover Rate5 | 2% |
Sector Weightings % of Investments
Information Technology | 19.5% | |||
Financials | 15.3% | |||
Consumer Discretionary | 11.9% | |||
Health Care | 11.4% | |||
Energy | 11.2% | |||
Industrials | 11.1% | |||
Consumer Staples | 9.5% | |||
Materials | 4.1% | |||
Utilities | 3.5% | |||
Telecommunication Services | 2.5% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets6
Apple, Inc. | 3.4% | |||
Exxon Mobil Corp. | 2.8% | |||
Microsoft Corp. | 1.6% | |||
International Business Machines Corp. | 1.6% | |||
Chevron Corp. | 1.5% | |||
General Electric Co. | 1.4% | |||
The Procter & Gamble Co. | 1.2% | |||
AT&T, Inc. | 1.2% | |||
Johnson & Johnson | 1.2% | |||
Pfizer, Inc. | 1.1% | |||
Total | 17.0% |
Portfolio holdings may have changed since the report date.
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
Index ownership—“Dow Jones” and “The Dow Jones U.S. Broad Stock Market IndexSM” are service marks of Dow Jones Trademark Holdings, LLC, (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are paid by CSIM. The Schwab U.S. Broad Market ETF, based on The Dow Jones U.S. Broad Stock Market IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such product.
Source of Sector Classification: S&P and MSCI.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. | |
5 | Not annualized. | |
6 | This list is not a recommendation of any security by the investment adviser. |
6 Schwab U.S. ETFs
Schwab U.S. Large-Cap ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab U.S. Large-Cap ETFtm (11/3/09) | |||||||||||||||
NAV Return2 | 13.27 | % | 4.98 | % | 15.02 | % | |||||||||
Market Price Return2 | 13.23 | % | 4.91 | % | 15.02 | % | |||||||||
Dow Jones U.S. Large-Cap Total Stock Market IndexSM | 13.31 | % | 5.08 | % | 15.16 | % | |||||||||
ETF Category: Morningstar Large Blend3 | 12.89 | % | 4.92 | % | 14.47 | % |
Fund Expense Ratio4: 0.08%
Statistics
Number of Holdings | 751 | |||
Weighted Average Market Cap ($ x 1,000,000) | $96,164 | |||
Price/Earnings Ratio (P/E) | 16.0 | |||
Price/Book Ratio (P/B) | 2.3 | |||
Portfolio Turnover Rate5 | 2% |
Sector Weightings % of Investments
Information Technology | 19.7% | |||
Financials | 14.7% | |||
Energy | 11.9% | |||
Consumer Discretionary | 11.6% | |||
Health Care | 11.2% | |||
Industrials | 10.5% | |||
Consumer Staples | 10.2% | |||
Materials | 3.9% | |||
Utilities | 3.5% | |||
Telecommunication Services | 2.7% | |||
Others | 0.1% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets6
Apple, Inc. | 3.8% | |||
Exxon Mobil Corp. | 3.1% | |||
Microsoft Corp. | 1.8% | |||
International Business Machines Corp. | 1.7% | |||
Chevron Corp. | 1.6% | |||
General Electric Co. | 1.5% | |||
AT&T, Inc. | 1.4% | |||
The Procter & Gamble Co. | 1.3% | |||
Johnson & Johnson | 1.3% | |||
Pfizer, Inc. | 1.2% | |||
Total | 18.7% |
Portfolio holdings may have changed since the report date.
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
Index ownership—“Dow Jones” and “The Dow Jones U.S. Large-Cap Total Stock Market IndexSM” are service marks of Dow Jones Trademark Holdings, LLC, (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are paid by CSIM. The Schwab U.S. Large-Cap ETF, based on The Dow Jones U.S. Large-Cap Total Stock Market IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such product.
Source of Sector Classification: S&P and MSCI.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. | |
5 | Not annualized. | |
6 | This list is not a recommendation of any security by the investment adviser. |
Schwab U.S. ETFs 7
Schwab U.S. Large-Cap Growth ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab U.S. Large-Cap Growth ETFtm (12/11/09) | |||||||||||||||
NAV Return2 | 13.93 | % | 5.93 | % | 14.14 | % | |||||||||
Market Price Return2 | 13.96 | % | 6.09 | % | 14.17 | % | |||||||||
Dow Jones U.S. Large-Cap Growth Total Stock Market IndexSM | 14.00 | % | 6.06 | % | 14.30 | % | |||||||||
ETF Category: Morningstar Large Growth3 | 13.09 | % | 6.89 | % | 14.34 | % |
Fund Expense Ratio4: 0.13%
Statistics
Number of Holdings | 424 | |||
Weighted Average Market Cap ($ x 1,000,000) | $87,852 | |||
Price/Earnings Ratio (P/E) | 18.2 | |||
Price/Book Ratio (P/B) | 3.1 | |||
Portfolio Turnover Rate5 | 4% |
Sector Weightings % of Investments
Information Technology | 30.8% | |||
Consumer Discretionary | 13.9% | |||
Industrials | 11.9% | |||
Health Care | 11.9% | |||
Energy | 10.0% | |||
Financials | 7.8% | |||
Consumer Staples | 7.7% | |||
Materials | 5.0% | |||
Utilities | 0.5% | |||
Telecommunication Services | 0.4% | |||
Others | 0.1% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets6
Apple, Inc. | 7.7% | |||
Microsoft Corp. | 3.6% | |||
Google, Inc., Class A | 2.3% | |||
Berkshire Hathaway, Inc., Class B | 2.3% | |||
Oracle Corp. | 1.7% | |||
Cisco Systems, Inc. | 1.6% | |||
Schlumberger Ltd. | 1.6% | |||
Wal-Mart Stores, Inc. | 1.6% | |||
QUALCOMM, Inc. | 1.6% | |||
PepsiCo, Inc. | 1.5% | |||
Total | 25.5% |
Portfolio holdings may have changed since the report date.
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
Index ownership—“Dow Jones” and “The Dow Jones U.S. Large-Cap Growth Total Stock Market IndexSM” are service marks of Dow Jones Trademark Holdings, LLC (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are paid by CSIM. The Schwab U.S. Large-Cap Growth ETF, based on The Dow Jones U.S. Large-Cap Growth Total Stock Market IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such product.
Source of Sector Classification: S&P and MSCI.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. | |
5 | Not annualized. | |
6 | This list is not a recommendation of any security by the investment adviser. |
8 Schwab U.S. ETFs
Schwab U.S. Large-Cap Value ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab U.S. Large-Cap Value ETFtm (12/11/09) | |||||||||||||||
NAV Return2 | 12.55 | % | 3.93 | % | 11.35 | % | |||||||||
Market Price Return2 | 12.67 | % | 3.89 | % | 11.35 | % | |||||||||
Dow Jones U.S. Large-Cap Value Total Stock Market IndexSM | 12.64 | % | 4.11 | % | 11.58 | % | |||||||||
ETF Category: Morningstar Large Value3 | 12.31 | % | 5.56 | % | 12.49 | % |
Fund Expense Ratio4: 0.13%
Statistics
Number of Holdings | 328 | |||
Weighted Average Market Cap ($ x 1,000,000) | $104,096 | |||
Price/Earnings Ratio (P/E) | 14.3 | |||
Price/Book Ratio (P/B) | 1.8 | |||
Portfolio Turnover Rate5 | 5% |
Sector Weightings % of Investments
Financials | 21.3% | |||
Energy | 13.6% | |||
Consumer Staples | 12.7% | |||
Health Care | 10.6% | |||
Consumer Discretionary | 9.4% | |||
Industrials | 9.1% | |||
Information Technology | 9.1% | |||
Utilities | 6.5% | |||
Telecommunication Services | 4.9% | |||
Materials | 2.8% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets6
Exxon Mobil Corp. | 6.0% | |||
International Business Machines Corp. | 3.4% | |||
Chevron Corp. | 3.2% | |||
General Electric Co. | 2.9% | |||
The Procter & Gamble Co. | 2.7% | |||
AT&T, Inc. | 2.6% | |||
Johnson & Johnson | 2.6% | |||
Pfizer, Inc. | 2.4% | |||
Wells Fargo & Co. | 2.3% | |||
JPMorgan Chase & Co. | 2.2% | |||
Total | 30.3% |
Portfolio holdings may have changed since the report date.
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
Index ownership—“Dow Jones” and “The Dow Jones U.S. Large-Cap Value Total Stock Market IndexSM” are service marks of Dow Jones Trademark Holdings, LLC (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are paid by CSIM. The Schwab U.S. Large-Cap Value ETF, based on The Dow Jones U.S. Large-Cap Value Total Stock Market IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such product.
Source of Sector Classification: S&P and MSCI.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. | |
5 | Not annualized. | |
6 | This list is not a recommendation of any security by the investment adviser. |
Schwab U.S. ETFs 9
Schwab U.S. Mid-Cap ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab U.S. Mid-Cap ETFtm (1/13/11) | |||||||||||||||
NAV Return2 | 13.99 | % | 3.30 | % | 7.09 | % | |||||||||
Market Price Return2 | 13.90 | % | 3.30 | % | 7.09 | % | |||||||||
Dow Jones U.S. Mid-Cap Total Stock Market IndexSM | 14.09 | % | 3.43 | % | 7.23 | % | |||||||||
ETF Category: Morningstar Mid-Cap Blend3 | 12.59 | % | 2.00 | % | 6.15 | % |
Fund Expense Ratio4: 0.13%
Statistics
Number of Holdings | 490 | |||
Weighted Average Market Cap ($ x 1,000,000) | $4,350 | |||
Price/Earnings Ratio (P/E) | 23.7 | |||
Price/Book Ratio (P/B) | 2.0 | |||
Portfolio Turnover Rate5 | 8% |
Sector Weightings % of Investments
Financials | 20.3% | |||
Industrials | 16.2% | |||
Consumer Discretionary | 15.3% | |||
Information Technology | 14.6% | |||
Materials | 8.6% | |||
Health Care | 8.2% | |||
Utilities | 6.8% | |||
Energy | 6.1% | |||
Consumer Staples | 2.7% | |||
Telecommunication Services | 1.2% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets6
Seagate Technology plc | 0.7% | |||
Liberty Media Corp. - Liberty Capital, Series A | 0.6% | |||
Herbalife Ltd. | 0.5% | |||
Regeneron Pharmaceuticals, Inc. | 0.5% | |||
Digital Realty Trust, Inc. | 0.5% | |||
AMETEK, Inc. | 0.5% | |||
Textron, Inc. | 0.5% | |||
Kansas City Southern | 0.5% | |||
Celanese Corp., Series A | 0.5% | |||
Pall Corp. | 0.4% | |||
Total | 5.2% |
Portfolio holdings may have changed since the report date.
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
Index ownership—“Dow Jones” and “The Dow Jones U.S. Mid-Cap Total Stock Market IndexSM” are service marks of Dow Jones Trademark Holdings, LLC (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are paid by CSIM. The Schwab U.S. Mid-Cap ETF, based on The Dow Jones U.S. Mid-Cap Total Stock Market IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such product.
Source of Sector Classification: S&P and MSCI.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. | |
5 | Not annualized. | |
6 | This list is not a recommendation of any security by the investment adviser. |
10 Schwab U.S. ETFs
Schwab U.S. Small-Cap ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab U.S. Small-Cap ETFtm (11/3/09) | |||||||||||||||
NAV Return2 | 13.09 | % | 0.94 | % | 20.37 | % | |||||||||
Market Price Return2 | 13.11 | % | 0.94 | % | 20.41 | % | |||||||||
Dow Jones U.S. Small-Cap Total Stock Market IndexSM | 13.10 | % | 0.95 | % | 20.58 | % | |||||||||
ETF Category: Morningstar Small Blend3 | 13.08 | % | 0.36 | % | 17.78 | % |
Fund Expense Ratio4: 0.13%
Statistics
Number of Holdings | 1,737 | |||
Weighted Average Market Cap ($ x 1,000,000) | $1,858 | |||
Price/Earnings Ratio (P/E) | 36.7 | |||
Price/Book Ratio (P/B) | 2.0 | |||
Portfolio Turnover Rate5 | 5% |
Sector Weightings % of Investments
Financials | 20.2% | |||
Information Technology | 17.2% | |||
Industrials | 16.8% | |||
Consumer Discretionary | 14.7% | |||
Health Care | 12.3% | |||
Energy | 6.2% | |||
Materials | 5.8% | |||
Consmer Staples | 2.9% | |||
Utilities | 2.9% | |||
Telecommunication Services | 1.0% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets6
Rock-Tenn Co., Class A | 0.3% | |||
VeriFone Systems, Inc. | 0.3% | |||
Panera Bread Co., Class A | 0.3% | |||
Superior Energy Services, Inc. | 0.3% | |||
Foot Locker, Inc. | 0.3% | |||
BE Aerospace, Inc. | 0.3% | |||
Polaris Industries, Inc. | 0.3% | |||
Oil States International, Inc. | 0.3% | |||
MICROS Systems, Inc., Class A | 0.3% | |||
Ulta Salon, Cosmetics & Fragrance, Inc. | 0.3% | |||
Total | 3.0% |
Portfolio holdings may have changed since the report date.
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
Investments in smaller companies typically exhibit higher volatility.
Index ownership—“Dow Jones” and “The Dow Jones U.S. Small-Cap Total Stock Market IndexSM” are service marks of Dow Jones Trademark Holdings, LLC (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are payable by CSIM. The Schwab U.S. Small-Cap ETF, based on The Dow Jones U.S. Small-Cap Total Stock Market IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such product.
Source of Sector Classification: S&P and MSCI.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. | |
5 | Not annualized. | |
6 | This list is not a recommendation of any security by the investment adviser. |
Schwab U.S. ETFs 11
Schwab U.S. Dividend Equity ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Total Returns1
Fund and Inception Date | Since Inception* | ||||
Fund: Schwab U.S. Dividend Equity ETFtm (10/20/11) | |||||
NAV Return2 | 10.46 | % | |||
Market Price Return2 | 10.50 | % | |||
Dow Jones U.S. Dividend 100 IndexSM | 10.58 | % | |||
ETF Category: Morningstar Large Blend3 | 13.05 | % |
Fund Expense Ratio4: 0.17%
Statistics
Number of Holdings | 100 | |||
Weighted Average Market Cap ($ x 1,000,000) | $106,585 | |||
Price/Earnings Ratio (P/E) | 14.3 | |||
Price/Book Ratio (P/B) | 3.3 | |||
Portfolio Turnover Rate5 | 1% |
Sector Weightings % of Investments
Consumer Staples | 22.7% | |||
Industrials | 18.3% | |||
Health Care | 12.6% | |||
Energy | 12.4% | |||
Information Technology | 12.3% | |||
Consumer Discretionary | 11.5% | |||
Materials | 4.3% | |||
Financials | 2.6% | |||
Utilities | 2.4% | |||
Telecommunication Services | 0.9% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets6
Intel Corp. | 4.6% | |||
Exxon Mobil Corp. | 4.6% | |||
Chevron Corp. | 4.5% | |||
The Procter & Gamble Co. | 4.4% | |||
The Coca-Cola Co. | 4.4% | |||
International Business Machines Corp. | 4.3% | |||
Johnson & Johnson | 4.3% | |||
Wal-Mart Stores, Inc. | 3.7% | |||
McDonald’s Corp. | 3.6% | |||
PepsiCo, Inc. | 3.5% | |||
Total | 41.9% |
Portfolio holdings may have changed since the report date.
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
Index ownership—“Dow Jones” and “The Dow Jones U.S. Dividend 100 IndexSM” are service marks of Dow Jones Trademark Holdings, LLC (“Dow Jones”), have been licensed to CME Group Index Services LLC (“CME Indexes”), and sublicensed for use for certain purposes by CSIM, the fund’s investment adviser. Fees payable under the license are payable by CSIM. The Schwab U.S. Dividend Equity ETF, based on The Dow Jones U.S. Dividend 100 IndexSM, is not sponsored, endorsed, sold or promoted by Dow Jones or CME Indexes and neither makes any representation regarding the advisability of trading in such product.
Source of Sector Classification: S&P and MSCI.
* | Total returns are since inception date of 10/20/11. Inception represents the date that the shares began trading in the secondary market. The fund’s total return may differ from the return disclosed in the Financial Highlights, as the total return in the Financial Highlights is calculated from the commencement of operations date which is the first day the NAV was determined. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. | |
5 | Not annualized. | |
6 | This list is not a recommendation of any security by the investment adviser. |
12 Schwab U.S. ETFs
Fund Expenses (Unaudited)
Examples for a $1,000 Investment
As a fund shareholder, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares; and, (2) ongoing costs, including management fees and other fund expenses.
The expense examples below are intended to help you understand your ongoing cost (in dollars) of investing in a fund and to compare this cost with the ongoing cost of investing in other mutual funds. These examples are based on an investment of $1,000 invested for six months beginning September 1, 2011 (or, for the Schwab U.S. Dividend Equity ETF, since commencement of operations on October 19, 2011) and held through February 29, 2012.
Actual Return lines in the table below provide information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value ¸ $1,000 = 8.6), then multiply the result by the number given for your fund or share class under the heading entitled “Expenses Paid During Period.”
Hypothetical Return lines in the table below provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed return of 5% per year before expenses. Because the return used is not an actual return, it may not be used to estimate the actual ending account value or expenses you paid for the period.
You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only, and do not reflect any transactional costs, including any redemption fees or brokerage commissions you may pay when purchasing or selling shares of the fund. If these transactional costs were included, your costs would have been higher.
Ending | ||||||||||||||||
Account Value | ||||||||||||||||
Expense Ratio1 | Beginning | (Net of Expenses) | Expenses Paid | |||||||||||||
(Annualized) | Account Value | at 2/29/12 | During Period | |||||||||||||
Schwab U.S. Broad Market ETFtm2 | ||||||||||||||||
Actual Return | 0.06% | $ | 1,000 | $ | 1,132.80 | $ | 0.32 | |||||||||
Hypothetical 5% Return | 0.06% | $ | 1,000 | $ | 1,024.57 | $ | 0.30 | |||||||||
Schwab U.S. Large-Cap ETFtm2 | ||||||||||||||||
Actual Return | 0.08% | $ | 1,000 | $ | 1,132.70 | $ | 0.42 | |||||||||
Hypothetical 5% Return | 0.08% | $ | 1,000 | $ | 1,024.47 | $ | 0.40 | |||||||||
Schwab U.S. Large-Cap Growth ETFtm2 | ||||||||||||||||
Actual Return | 0.13% | $ | 1,000 | $ | 1,139.30 | $ | 0.69 | |||||||||
Hypothetical 5% Return | 0.13% | $ | 1,000 | $ | 1,024.22 | $ | 0.65 | |||||||||
Schwab U.S. Large-Cap Value ETFtm2 | ||||||||||||||||
Actual Return | 0.13% | $ | 1,000 | $ | 1,125.50 | $ | 0.69 | |||||||||
Hypothetical 5% Return | 0.13% | $ | 1,000 | $ | 1,024.22 | $ | 0.65 | |||||||||
Schwab U.S. Mid-Cap ETFtm2 | ||||||||||||||||
Actual Return | 0.13% | $ | 1,000 | $ | 1,139.90 | $ | 0.69 | |||||||||
Hypothetical 5% Return | 0.13% | $ | 1,000 | $ | 1,024.22 | $ | 0.65 | |||||||||
Schwab U.S. Small-Cap ETFtm2 | ||||||||||||||||
Actual Return | 0.13% | $ | 1,000 | $ | 1,130.90 | $ | 0.69 | |||||||||
Hypothetical 5% Return | 0.13% | $ | 1,000 | $ | 1,024.22 | $ | 0.65 | |||||||||
Schwab U.S. Dividend Equity ETFtm3 | ||||||||||||||||
Actual Return | 0.17% | $ | 1,000 | $ | 1,099.70 | $ | 0.65 | |||||||||
Hypothetical 5% Return | 0.17% | $ | 1,000 | $ | 1,017.68 | $ | 0.63 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights. | |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 182 days of the period, and divided by the 366 days of the fiscal year. | |
3 | Expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 134 days of the period (from commencement of operations on 10/19/11 through 2/29/12) and divided by the 366 days of the fiscal year. |
Schwab U.S. ETFs 13
Schwab U.S. Broad Market ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 10/30/091– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 29.47 | 25.11 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.32 | 2 | 0.56 | 2 | 0.42 | 2 | ||||||||
Net realized and unrealized gains (losses) | 3.55 | 4.32 | (0.05 | ) | ||||||||||
Total from investment operations | 3.87 | 4.88 | 0.37 | |||||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.29 | ) | (0.52 | ) | (0.26 | ) | ||||||||
Net asset value at end of period | 33.05 | 29.47 | 25.11 | |||||||||||
Total return (%) | 13.28 | 3 | 19.41 | 1.42 | 3 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.06 | 4 | 0.06 | 0.07 | 4,5 | |||||||||
Gross operating expenses | 0.06 | 4 | 0.06 | 0.07 | 4 | |||||||||
Net investment income (loss) | 2.13 | 4 | 1.83 | 1.92 | 4 | |||||||||
Portfolio turnover rate6 | 2 | 3 | 3 | 2 | 3 | |||||||||
Net assets, end of period ($ x 1,000) | 993,159 | 742,651 | 272,490 |
* Unaudited.
1 Commencement of operations.
2 Calculated based on the average shares outstanding during the period.
3 Not annualized.
4 Annualized.
5 Effective June 14, 2010, the annual operating expense was reduced. The ratio presented for period ended 8/31/10 is a blended rate.
6 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
14 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .8% | Common Stock | 902,857,164 | 991,351,544 | ||||||||
0 | .0% | Rights | — | — | ||||||||
0 | .0% | Other Investment Company | 329,682 | 329,682 | ||||||||
99 | .8% | Total Investments | 903,186,846 | 991,681,226 | ||||||||
0 | .3% | Collateral Invested for Securities on Loan | 3,044,237 | 3,044,237 | ||||||||
(0 | .1)% | Other Assets and Liabilities, Net | (1,566,952 | ) | ||||||||
100 | .0% | Net Assets | 993,158,511 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.8% of net assets | ||||||||
Automobiles & Components 0.9% | ||||||||
American Axle & Manufacturing Holdings, Inc. * | 3,005 | 34,227 | ||||||
BorgWarner, Inc. * | 7,813 | 647,229 | ||||||
Cooper Tire & Rubber Co. | 6,010 | 99,766 | ||||||
Dana Holding Corp. * | 10,217 | 163,472 | ||||||
Dorman Products, Inc. * | 1,202 | 54,583 | ||||||
Ford Motor Co. | 249,415 | 3,087,758 | ||||||
General Motors Co. * | 38,464 | 1,000,833 | ||||||
Gentex Corp. | 9,015 | 213,205 | ||||||
Harley-Davidson, Inc. | 15,626 | 727,859 | ||||||
Johnson Controls, Inc. | 44,474 | 1,451,187 | ||||||
Lear Corp. | 7,212 | 326,054 | ||||||
Tenneco, Inc. * | 3,606 | 138,831 | ||||||
Tesla Motors, Inc. *(a) | 3,606 | 120,476 | ||||||
The Goodyear Tire & Rubber Co. * | 19,232 | 247,323 | ||||||
Thor Industries, Inc. | 3,005 | 97,873 | ||||||
TRW Automotive Holdings Corp. * | 7,212 | 329,877 | ||||||
Visteon Corp. * | 4,207 | 226,000 | ||||||
8,966,553 | ||||||||
Banks 3.1% | ||||||||
Associated Banc-Corp | 12,941 | 171,339 | ||||||
Astoria Financial Corp. | 9,616 | 84,428 | ||||||
BancorpSouth, Inc. | 4,808 | 56,927 | ||||||
Bank of Hawaii Corp. | 3,005 | 138,230 | ||||||
Bank of the Ozarks, Inc. | 2,404 | 70,557 | ||||||
BankUnited, Inc. | 4,808 | 110,728 | ||||||
BB&T Corp. | 45,676 | 1,336,023 | ||||||
BBCN Bancorp, Inc. * | 9,015 | 92,404 | ||||||
BOK Financial Corp. | 2,404 | 129,047 | ||||||
Boston Private Financial Holdings, Inc. | 9,015 | 85,913 | ||||||
CapitalSource, Inc. | 28,247 | 190,667 | ||||||
Capitol Federal Financial, Inc. | 15,025 | 175,642 | ||||||
Cathay General Bancorp | 7,212 | 117,844 | ||||||
CIT Group, Inc. * | 13,823 | 562,734 | ||||||
City Holding Co. (a) | 1,202 | 41,193 | ||||||
City National Corp. | 3,005 | 141,235 | ||||||
Columbia Banking System, Inc. | 4,207 | 88,978 | ||||||
Comerica, Inc. | 13,823 | 410,405 | ||||||
Commerce Bancshares, Inc. | 5,635 | 217,567 | ||||||
Community Bank System, Inc. | 2,404 | 65,677 | ||||||
Cullen/Frost Bankers, Inc. | 3,606 | 203,667 | ||||||
CVB Financial Corp. | 12,020 | 129,455 | ||||||
East West Bancorp, Inc. | 10,217 | 226,000 | ||||||
F.N.B. Corp. | 13,222 | 155,887 | ||||||
Fifth Third Bancorp | 63,105 | 858,859 | ||||||
First Citizens BancShares, Inc., Class A | 601 | 105,866 | ||||||
First Financial Bancorp | 3,662 | 59,947 | ||||||
First Financial Bankshares, Inc. (a) | 3,005 | 102,951 | ||||||
First Horizon National Corp. | 21,035 | 197,729 | ||||||
First Midwest Bancorp, Inc. | 6,010 | 69,476 | ||||||
First Niagara Financial Group, Inc. | 20,434 | 195,349 | ||||||
First Republic Bank * | 4,808 | 144,192 | ||||||
FirstMerit Corp. | 7,212 | 115,753 | ||||||
Fulton Financial Corp. | 14,744 | 144,491 | ||||||
Glacier Bancorp, Inc. | 7,212 | 99,526 | ||||||
Hancock Holding Co. | 5,409 | 183,636 | ||||||
Home Bancshares, Inc. | 2,404 | �� | 60,581 | |||||
Hudson City Bancorp, Inc. | 31,853 | 218,193 | ||||||
Huntington Bancshares, Inc. | 56,494 | 330,207 | ||||||
IBERIABANK Corp. | 1,803 | 95,631 | ||||||
International Bancshares Corp. | 6,010 | 114,070 | ||||||
Investors Bancorp, Inc. * | 3,606 | 52,395 | ||||||
KeyCorp | 64,755 | 524,515 | ||||||
M&T Bank Corp. | 8,414 | 686,751 | ||||||
MB Financial, Inc. | 5,409 | 107,639 | ||||||
MGIC Investment Corp. * | 18,030 | 81,315 | ||||||
National Penn Bancshares, Inc. | 15,025 | 131,469 | ||||||
NBT Bancorp, Inc. | 4,207 | 91,755 | ||||||
New York Community Bancorp, Inc. | 28,247 | 367,493 | ||||||
Northwest Bancshares, Inc. | 9,015 | 113,769 | ||||||
Ocwen Financial Corp. * | 8,414 | 135,550 | ||||||
Old National Bancorp | 9,015 | 108,901 | ||||||
Oritani Financial Corp. | 4,207 | 54,817 | ||||||
PacWest Bancorp | 3,005 | 65,419 | ||||||
Park National Corp. (a) | 1,803 | 124,119 | ||||||
People’s United Financial, Inc. | 22,838 | 287,530 | ||||||
PNC Financial Services Group, Inc. | 34,657 | 2,062,785 | ||||||
Popular, Inc. * | 66,219 | 125,816 | ||||||
PrivateBancorp, Inc. | 5,409 | 78,431 | ||||||
Prosperity Bancshares, Inc. | 3,005 | 131,439 | ||||||
Provident Financial Services, Inc. | 4,808 | 66,062 | ||||||
Regions Financial Corp. | 80,534 | 463,876 | ||||||
Signature Bank * | 3,005 | 178,377 | ||||||
SunTrust Banks, Inc. | 38,464 | 883,133 | ||||||
Susquehanna Bancshares, Inc. | 9,021 | 83,625 | ||||||
SVB Financial Group * | 3,606 | 213,764 | ||||||
Synovus Financial Corp. | 36,060 | 76,447 | ||||||
TCF Financial Corp. | 12,268 | 132,249 | ||||||
Texas Capital Bancshares, Inc. * | 4,207 | 142,575 |
See financial notes 15
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
TFS Financial Corp. * | 8,414 | 78,671 | ||||||
Trustmark Corp. | 4,808 | 113,373 | ||||||
U.S. Bancorp | 126,811 | 3,728,243 | ||||||
UMB Financial Corp. | 2,404 | 100,127 | ||||||
Umpqua Holdings Corp. | 9,616 | 118,469 | ||||||
United Bankshares, Inc. (a) | 4,808 | 140,778 | ||||||
Valley National Bancorp | 15,025 | 187,963 | ||||||
Washington Federal, Inc. | 7,212 | 116,834 | ||||||
Webster Financial Corp. | 7,212 | 157,799 | ||||||
Wells Fargo & Co. | 327,545 | 10,248,883 | ||||||
Westamerica Bancorp | 1,803 | 85,390 | ||||||
Wintrust Financial Corp. | 3,005 | 101,299 | ||||||
Zions Bancorp | 11,419 | 216,961 | ||||||
31,065,810 | ||||||||
Capital Goods 8.4% | ||||||||
3M Co. | 42,671 | 3,737,980 | ||||||
A.O. Smith Corp. | 2,404 | 108,565 | ||||||
AAR Corp. | 2,404 | 53,008 | ||||||
Actuant Corp., Class A | 5,409 | 152,371 | ||||||
Acuity Brands, Inc. | 3,005 | 186,881 | ||||||
Aecom Technology Corp. * | 6,611 | 154,367 | ||||||
Aerovironment, Inc. * | 1,803 | 51,349 | ||||||
AGCO Corp. * | 6,010 | 310,296 | ||||||
Air Lease Corp. * | 6,010 | 147,786 | ||||||
Aircastle Ltd. | 5,409 | 73,616 | ||||||
Alliant Techsystems, Inc. | 1,803 | 108,180 | ||||||
American Science & Engineering, Inc. | 601 | 43,693 | ||||||
AMETEK, Inc. | 10,818 | 514,937 | ||||||
Applied Industrial Technologies, Inc. | 3,005 | 120,711 | ||||||
Armstrong World Industries, Inc. * | 2,404 | 123,133 | ||||||
Barnes Group, Inc. | 5,409 | 149,829 | ||||||
BE Aerospace, Inc. * | 7,212 | 330,598 | ||||||
Beacon Roofing Supply, Inc. * | 3,005 | 70,858 | ||||||
Belden, Inc. | 3,606 | 142,329 | ||||||
Blount International, Inc. * | 3,005 | 51,536 | ||||||
Brady Corp., Class A | 3,005 | 96,010 | ||||||
Briggs & Stratton Corp. | 4,808 | 81,447 | ||||||
Carlisle Cos., Inc. | 4,207 | 205,302 | ||||||
Caterpillar, Inc. | 39,065 | 4,461,614 | ||||||
Chart Industries, Inc. * | 1,824 | 124,743 | ||||||
CLARCOR, Inc. | 3,606 | 181,995 | ||||||
Colfax Corp. * | 3,005 | 102,230 | ||||||
Cooper Industries plc | 12,030 | 736,477 | ||||||
Crane Co. | 3,606 | 175,143 | ||||||
Cubic Corp. | 2,404 | 114,911 | ||||||
Cummins, Inc. | 12,020 | 1,449,251 | ||||||
Curtiss-Wright Corp. | 3,005 | 111,636 | ||||||
Danaher Corp. | 37,863 | 2,000,302 | ||||||
Deere & Co. | 27,646 | 2,292,683 | ||||||
DigitalGlobe, Inc. * | 3,019 | 46,432 | ||||||
Donaldson Co., Inc. | 4,808 | 353,051 | ||||||
Dover Corp. | 12,020 | 769,520 | ||||||
Eaton Corp. | 21,636 | 1,129,183 | ||||||
EMCOR Group, Inc. | 4,207 | 116,955 | ||||||
Emerson Electric Co. | 49,883 | 2,509,614 | ||||||
EnerSys * | 4,207 | 141,271 | ||||||
ESCO Technologies, Inc. | 2,404 | 86,039 | ||||||
Esterline Technologies Corp. * | 2,404 | 156,140 | ||||||
Exelis, Inc. | 12,020 | 126,330 | ||||||
Fastenal Co. | 19,232 | 1,013,142 | ||||||
Flowserve Corp. | 3,606 | 427,563 | ||||||
Fluor Corp. | 12,020 | 726,970 | ||||||
Fortune Brands Home & Security, Inc. * | 10,217 | 197,597 | ||||||
Foster Wheeler AG * | 7,412 | 182,558 | ||||||
Franklin Electric Co., Inc. | 1,803 | 90,168 | ||||||
Gardner Denver, Inc. | 3,606 | 247,660 | ||||||
GATX Corp. | 3,606 | 156,825 | ||||||
Generac Holdings, Inc. * | 1,803 | 45,868 | ||||||
General Cable Corp. * | 3,130 | 96,936 | ||||||
General Dynamics Corp. | 19,833 | 1,452,371 | ||||||
General Electric Co. | 695,357 | 13,246,551 | ||||||
Goodrich Corp. | 8,414 | 1,059,912 | ||||||
Graco, Inc. | 4,207 | 215,314 | ||||||
GrafTech International Ltd. * | 8,414 | 106,942 | ||||||
Granite Construction, Inc. | 3,606 | 103,132 | ||||||
Harsco Corp. | 5,409 | 120,242 | ||||||
HEICO Corp., Class A | 3,005 | 119,839 | ||||||
Hexcel Corp. * | 8,414 | 212,622 | ||||||
Honeywell International, Inc. | 46,878 | 2,792,522 | ||||||
Hubbell, Inc., Class B | 3,606 | 271,243 | ||||||
Huntington Ingalls Industries, Inc. * | 3,606 | 129,383 | ||||||
IDEX Corp. | 5,409 | 226,096 | ||||||
II-VI, Inc. * | 4,828 | 112,927 | ||||||
Illinois Tool Works, Inc. | 28,247 | 1,573,075 | ||||||
Ingersoll-Rand plc | 22,838 | 910,779 | ||||||
ITT Corp. | 6,010 | 149,949 | ||||||
Jacobs Engineering Group, Inc. * | 8,414 | 388,895 | ||||||
Joy Global, Inc. | 7,212 | 627,155 | ||||||
Kaman Corp. | 1,803 | 62,185 | ||||||
Kaydon Corp. | 3,005 | 113,048 | ||||||
KBR, Inc. | 10,818 | 392,910 | ||||||
Kennametal, Inc. | 5,409 | 249,193 | ||||||
L-3 Communications Holdings, Inc. | 7,813 | 548,863 | ||||||
Lennox International, Inc. | 3,606 | 141,103 | ||||||
Lincoln Electric Holdings, Inc. | 6,010 | 277,602 | ||||||
Lockheed Martin Corp. | 17,454 | 1,543,108 | ||||||
Masco Corp. | 25,242 | 299,875 | ||||||
MasTec, Inc. * | 7,813 | 137,431 | ||||||
Moog, Inc., Class A * | 3,606 | 158,339 | ||||||
MSC Industrial Direct Co., Class A | 3,005 | 238,627 | ||||||
Mueller Industries, Inc. | 3,606 | 165,876 | ||||||
Navistar International Corp. * | 4,207 | 175,768 | ||||||
Nordson Corp. | 3,606 | 198,222 | ||||||
Northrop Grumman Corp. | 16,227 | 970,537 | ||||||
Orbital Sciences Corp. * | 3,606 | 50,664 | ||||||
Oshkosh Corp. * | 6,010 | 140,093 | ||||||
Owens Corning, Inc. * | 6,611 | 209,238 | ||||||
PACCAR, Inc. | 24,040 | 1,106,080 | ||||||
Pall Corp. | 7,813 | 495,735 | ||||||
Parker Hannifin Corp. | 10,818 | 971,565 | ||||||
Pentair, Inc. | 6,611 | 254,523 | ||||||
Polypore International, Inc. *(a) | 2,404 | 98,852 | ||||||
Precision Castparts Corp. | 9,616 | 1,610,007 | ||||||
Quanta Services, Inc. * | 13,222 | 276,340 | ||||||
Raven Industries, Inc. | 1,202 | 75,786 | ||||||
Raytheon Co. | 22,838 | 1,153,776 | ||||||
RBC Bearings, Inc. * | 1,803 | 82,055 | ||||||
Regal-Beloit Corp. | 2,404 | 162,270 | ||||||
Robbins & Myers, Inc. | 3,005 | 146,674 | ||||||
Rockwell Automation, Inc. | 9,616 | 769,088 | ||||||
Rockwell Collins, Inc. | 10,217 | 605,766 |
16 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Roper Industries, Inc. | 6,010 | 550,035 | ||||||
RSC Holdings, Inc. * | 6,611 | 147,227 | ||||||
Simpson Manufacturing Co., Inc. | 3,606 | 107,531 | ||||||
Snap-On, Inc. | 3,606 | 220,435 | ||||||
Spirit AeroSystems Holdings, Inc., Class A * | 6,080 | 145,677 | ||||||
SPX Corp. | 3,606 | 263,743 | ||||||
Stanley Black & Decker, Inc. | 11,419 | 876,979 | ||||||
TAL International Group, Inc. | 1,815 | 65,413 | ||||||
Teledyne Technologies, Inc. * | 3,005 | 179,098 | ||||||
Terex Corp. * | 7,813 | 198,372 | ||||||
Textainer Group Holdings Ltd. | 3,005 | 99,826 | ||||||
Textron, Inc. | 18,631 | 512,539 | ||||||
The Babcock & Wilcox Co. * | 7,813 | 201,107 | ||||||
The Boeing Co. | 43,873 | 3,288,281 | ||||||
The Manitowoc Co., Inc. | 10,217 | 160,816 | ||||||
The Middleby Corp. * | 1,803 | 176,225 | ||||||
The Shaw Group, Inc. * | 5,409 | 156,536 | ||||||
The Timken Co. | 5,409 | 283,432 | ||||||
The Toro Co. | 2,404 | 162,847 | ||||||
Thomas & Betts Corp. * | 3,606 | 260,461 | ||||||
Titan International, Inc. | 2,404 | 59,235 | ||||||
TransDigm Group, Inc. * | 3,606 | 428,357 | ||||||
Trinity Industries, Inc. | 5,409 | 188,017 | ||||||
Triumph Group, Inc. | 3,606 | 230,063 | ||||||
Tutor Perini Corp. * | 4,808 | 75,870 | ||||||
Tyco International Ltd. | 30,651 | 1,588,335 | ||||||
United Rentals, Inc. * | 3,648 | 152,049 | ||||||
United Technologies Corp. | 52,287 | 4,385,311 | ||||||
URS Corp. * | 5,409 | 236,103 | ||||||
USG Corp. * | 7,212 | 102,771 | ||||||
Valmont Industries, Inc. | 1,202 | 133,506 | ||||||
W.W. Grainger, Inc. | 4,207 | 873,920 | ||||||
WABCO Holdings, Inc. * | 4,207 | 250,274 | ||||||
Wabtec Corp. | 3,005 | 224,564 | ||||||
Watsco, Inc. | 1,803 | 128,716 | ||||||
Watts Water Technologies, Inc., Class A | 3,005 | 118,818 | ||||||
WESCO International, Inc. * | 3,606 | 226,781 | ||||||
Woodward, Inc. | 3,606 | 157,835 | ||||||
Xylem, Inc. | 12,020 | 312,280 | ||||||
83,015,122 | ||||||||
Commercial & Professional Services 0.9% | ||||||||
ABM Industries, Inc. | 4,808 | 109,142 | ||||||
Acacia Research Corp. * | 2,404 | 94,958 | ||||||
Avery Dennison Corp. | 7,212 | 219,966 | ||||||
Cintas Corp. | 7,813 | 301,269 | ||||||
Clean Harbors, Inc. * | 3,606 | 242,179 | ||||||
Copart, Inc. * | 4,808 | 239,342 | ||||||
Corrections Corp. of America * | 7,212 | 180,733 | ||||||
CoStar Group, Inc. * | 2,404 | 144,192 | ||||||
Covanta Holding Corp. | 9,015 | 147,215 | ||||||
Deluxe Corp. | 3,606 | 88,960 | ||||||
Equifax, Inc. | 8,414 | 353,725 | ||||||
FTI Consulting, Inc. * | 3,606 | 144,492 | ||||||
Healthcare Services Group, Inc. | 7,212 | 140,490 | ||||||
Herman Miller, Inc. | 6,010 | 126,210 | ||||||
HNI Corp. | 3,606 | 91,160 | ||||||
Huron Consulting Group, Inc. * | 1,202 | 45,892 | ||||||
IHS, Inc., Class A * | 3,005 | 284,183 | ||||||
Insperity, Inc. | 1,812 | 54,596 | ||||||
Interface, Inc., Class A | 6,611 | 80,985 | ||||||
Iron Mountain, Inc. | 12,020 | 373,221 | ||||||
KAR Auction Services, Inc. * | 6,011 | 96,597 | ||||||
Korn/Ferry International * | 6,010 | 95,980 | ||||||
Manpower, Inc. | 5,409 | 232,966 | ||||||
Mine Safety Appliances Co. | 3,606 | 132,917 | ||||||
Mobile Mini, Inc. * | 2,404 | 51,926 | ||||||
Nielsen Holdings N.V. * | 3,636 | 107,226 | ||||||
Pitney Bowes, Inc. | 13,823 | 250,611 | ||||||
Portfolio Recovery Associates, Inc. * | 1,202 | 83,815 | ||||||
R.R. Donnelley & Sons Co. (a) | 13,823 | 191,034 | ||||||
Republic Services, Inc. | 20,434 | 609,546 | ||||||
Resources Connection, Inc. | 5,409 | 70,696 | ||||||
Robert Half International, Inc. | 10,217 | 290,469 | ||||||
Rollins, Inc. | 7,212 | 146,115 | ||||||
Steelcase, Inc., Class A | 8,478 | 74,437 | ||||||
Stericycle, Inc. * | 5,409 | 469,339 | ||||||
Sykes Enterprises, Inc. * | 4,207 | 57,972 | ||||||
Tetra Tech, Inc. * | 3,606 | 88,563 | ||||||
The Advisory Board Co. * | 1,202 | 97,290 | ||||||
The Brink’s Co. | 3,606 | 91,051 | ||||||
The Corporate Executive Board Co. | 3,606 | 149,433 | ||||||
The Dun & Bradstreet Corp. | 3,606 | 298,036 | ||||||
The Geo Group, Inc. * | 4,808 | 84,669 | ||||||
Towers Watson & Co., Class A | 3,005 | 192,140 | ||||||
TrueBlue, Inc. * | 3,606 | 59,715 | ||||||
UniFirst Corp. | 1,202 | 72,216 | ||||||
United Stationers, Inc. | 3,606 | 104,718 | ||||||
Verisk Analytics, Inc., Class A * | 9,616 | 418,296 | ||||||
Waste Connections, Inc. | 7,943 | 258,306 | ||||||
Waste Management, Inc. | 26,444 | 925,011 | ||||||
9,264,000 | ||||||||
Consumer Durables & Apparel 1.4% | ||||||||
American Greetings Corp., Class A | 4,207 | 63,105 | ||||||
Brunswick Corp. | 6,010 | 143,699 | ||||||
Carter’s, Inc. * | 4,207 | 204,334 | ||||||
Coach, Inc. | 19,843 | 1,485,050 | ||||||
Columbia Sportswear Co. | 1,202 | 60,016 | ||||||
Crocs, Inc. * | 6,662 | 130,908 | ||||||
D.R. Horton, Inc. | 19,232 | 275,787 | ||||||
Deckers Outdoor Corp. * | 3,005 | 224,654 | ||||||
Fossil, Inc. * | 3,606 | 439,860 | ||||||
Garmin Ltd. (a) | 7,813 | 368,695 | ||||||
Hanesbrands, Inc. * | 6,611 | 189,934 | ||||||
Harman International Industries, Inc. | 4,808 | 236,217 | ||||||
Hasbro, Inc. | 7,813 | 275,955 | ||||||
Helen of Troy Ltd. * | 3,005 | 97,663 | ||||||
Iconix Brand Group, Inc. * | 8,414 | 152,798 | ||||||
Jarden Corp. | 6,611 | 233,170 | ||||||
Leggett & Platt, Inc. | 10,818 | 244,811 | ||||||
Lennar Corp., Class A | 10,217 | 238,873 | ||||||
Liz Claiborne, Inc. * | 3,005 | 29,389 | ||||||
M.D.C Holdings, Inc. | 3,005 | 73,863 | ||||||
Mattel, Inc. | 24,641 | 799,354 | ||||||
Michael Kors Holdings Ltd. * | 1,803 | 77,980 | ||||||
Mohawk Industries, Inc. * | 3,606 | 229,017 | ||||||
Newell Rubbermaid, Inc. | 19,232 | 351,946 | ||||||
NIKE, Inc., Class B | 25,242 | 2,724,117 | ||||||
NVR, Inc. * | 298 | 206,216 |
See financial notes 17
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Polaris Industries, Inc. | 4,808 | 317,616 | ||||||
PulteGroup, Inc. * | 22,838 | 201,431 | ||||||
PVH Corp. | 4,207 | 357,637 | ||||||
Ralph Lauren Corp. | 4,207 | 730,882 | ||||||
Steven Madden Ltd. * | 3,005 | 129,756 | ||||||
Tempur-Pedic International, Inc. * | 5,409 | 427,311 | ||||||
The Jones Group, Inc. | 6,010 | 59,199 | ||||||
The Ryland Group, Inc. | 5,409 | 98,065 | ||||||
The Warnaco Group, Inc. * | 3,005 | 176,424 | ||||||
Toll Brothers, Inc. * | 10,217 | 239,691 | ||||||
True Religion Apparel, Inc. * | 3,005 | 79,242 | ||||||
Tupperware Brands Corp. | 4,207 | 263,737 | ||||||
Under Armour, Inc., Class A * | 3,005 | 268,166 | ||||||
Vera Bradley, Inc. *(a) | 1,803 | 66,170 | ||||||
VF Corp. | 6,010 | 877,760 | ||||||
Whirlpool Corp. | 4,808 | 363,341 | ||||||
Wolverine World Wide, Inc. | 3,606 | 137,533 | ||||||
14,351,372 | ||||||||
Consumer Services 2.4% | ||||||||
Apollo Group, Inc., Class A * | 8,414 | 358,773 | ||||||
Bally Technologies, Inc. * | 3,606 | 154,842 | ||||||
BJ’s Restaurants, Inc. * | 1,803 | 89,519 | ||||||
Bob Evans Farms, Inc. | 3,606 | 132,701 | ||||||
Boyd Gaming Corp. * | 12,020 | 96,280 | ||||||
Bridgepoint Education, Inc. *(a) | 3,716 | 90,522 | ||||||
Brinker International, Inc. | 7,813 | 215,561 | ||||||
Buffalo Wild Wings, Inc. * | 1,803 | 155,941 | ||||||
Carnival Corp. | 28,247 | 855,602 | ||||||
Chipotle Mexican Grill, Inc. * | 2,039 | 795,659 | ||||||
Choice Hotels International, Inc. | 3,005 | 112,898 | ||||||
Coinstar, Inc. *(a) | 1,876 | 109,239 | ||||||
Cracker Barrel Old Country Store, Inc. | 1,803 | 100,373 | ||||||
Darden Restaurants, Inc. | 9,015 | 459,675 | ||||||
DeVry, Inc. | 4,207 | 149,475 | ||||||
Domino’s Pizza, Inc. * | 4,864 | 187,069 | ||||||
Dunkin’ Brands Group, Inc. * | 3,005 | 87,265 | ||||||
Gaylord Entertainment Co. * | 2,404 | 71,543 | ||||||
H&R Block, Inc. | 22,237 | 362,463 | ||||||
Hillenbrand, Inc. | 4,808 | 110,440 | ||||||
Hyatt Hotels Corp., Class A * | 2,404 | 99,550 | ||||||
International Game Technology | 20,434 | 306,919 | ||||||
International Speedway Corp., Class A | 3,606 | 90,727 | ||||||
ITT Educational Services, Inc. *(a) | 2,404 | 165,011 | ||||||
Jack in the Box, Inc. * | 4,808 | 114,671 | ||||||
K12, Inc. * | 2,404 | 51,830 | ||||||
Las Vegas Sands Corp. * | 25,479 | 1,416,887 | ||||||
Life Time Fitness, Inc. * | 4,207 | 208,120 | ||||||
Marriott International, Inc., Class A | 20,434 | 720,911 | ||||||
Marriott Vacations Worldwide Corp. * | 2,005 | 49,985 | ||||||
Matthews International Corp., Class A | 2,404 | 74,572 | ||||||
McDonald’s Corp. | 67,913 | 6,742,403 | ||||||
MGM Resorts International * | 20,674 | 284,681 | ||||||
Orient-Express Hotels Ltd., Class A * | 6,010 | 59,439 | ||||||
Panera Bread Co., Class A * | 1,803 | 278,708 | ||||||
Penn National Gaming, Inc. * | 4,207 | 179,008 | ||||||
Regis Corp. | 6,010 | 104,033 | ||||||
Royal Caribbean Cruises Ltd. | 9,015 | 256,837 | ||||||
Scientific Games Corp., Class A * | 7,212 | 75,798 | ||||||
Service Corp. International | 16,828 | 190,829 | ||||||
Six Flags Entertainment Corp. | 4,808 | 217,610 | ||||||
Sotheby’s | 4,303 | 169,280 | ||||||
Starbucks Corp. | 48,681 | 2,363,949 | ||||||
Starwood Hotels & Resorts Worldwide, Inc. | 12,621 | 680,272 | ||||||
Strayer Education, Inc. (a) | 1,202 | 123,680 | ||||||
Texas Roadhouse, Inc. | 4,207 | 70,383 | ||||||
The Cheesecake Factory, Inc. * | 4,808 | 142,509 | ||||||
The Wendy’s Co. | 24,641 | 124,930 | ||||||
Vail Resorts, Inc. | 2,404 | 101,208 | ||||||
Weight Watchers International, Inc. (a) | 3,005 | 234,330 | ||||||
WMS Industries, Inc. * | 3,005 | 66,200 | ||||||
Wyndham Worldwide Corp. | 12,020 | 528,760 | ||||||
Wynn Resorts Ltd. | 6,010 | 712,425 | ||||||
Yum! Brands, Inc. | 30,651 | 2,030,322 | ||||||
23,732,617 | ||||||||
Diversified Financials 5.1% | ||||||||
Affiliated Managers Group, Inc. * | 3,606 | 383,642 | ||||||
American Express Co. | 67,913 | 3,591,919 | ||||||
Ameriprise Financial, Inc. | 15,025 | 837,794 | ||||||
Bank of America Corp. | 664,105 | 5,292,917 | ||||||
BlackRock, Inc. | 6,611 | 1,315,589 | ||||||
Capital One Financial Corp. | 30,651 | 1,550,941 | ||||||
Cash America International, Inc. | 3,005 | 139,372 | ||||||
CBOE Holdings, Inc. | 6,653 | 183,423 | ||||||
Citigroup, Inc. | 192,320 | 6,408,102 | ||||||
CME Group, Inc. | 4,207 | 1,217,884 | ||||||
Cohen & Steers, Inc. (a) | 1,803 | 59,391 | ||||||
Credit Acceptance Corp. * | 601 | 57,852 | ||||||
DFC Global Corp. * | 2,404 | 43,056 | ||||||
Discover Financial Services | 36,060 | 1,082,161 | ||||||
Duff & Phelps Corp., Class A | 5,409 | 74,428 | ||||||
E*TRADE Financial Corp. * | 16,227 | 156,266 | ||||||
Eaton Vance Corp. | 7,813 | 225,093 | ||||||
Evercore Partners, Inc., Class A | 1,202 | 32,682 | ||||||
EZCORP, Inc., Class A * | 3,606 | 113,589 | ||||||
Federated Investors, Inc., Class B (a) | 6,019 | 123,329 | ||||||
Financial Engines, Inc. * | 3,005 | 69,265 | ||||||
First Cash Financial Services, Inc. * | 3,005 | 126,991 | ||||||
Franklin Resources, Inc. | 10,222 | 1,205,072 | ||||||
Greenhill & Co., Inc. | 2,404 | 105,680 | ||||||
IntercontinentalExchange, Inc. * | 4,808 | 663,312 | ||||||
Invesco Ltd. | 30,651 | 759,225 | ||||||
Janus Capital Group, Inc. | 12,020 | 106,016 | ||||||
Jefferies Group, Inc. | 7,212 | 120,585 | ||||||
JPMorgan Chase & Co. | 250,617 | 9,834,211 | ||||||
Knight Capital Group, Inc., Class A * | 6,010 | 79,632 | ||||||
Legg Mason, Inc. | 10,818 | 296,305 | ||||||
Leucadia National Corp. | 13,222 | 376,695 | ||||||
LPL Investment Holdings, Inc. * | 4,506 | 153,655 | ||||||
MarketAxess Holdings, Inc. | 1,266 | 41,930 | ||||||
Moody’s Corp. | 13,823 | 533,706 | ||||||
Morgan Stanley | 87,746 | 1,626,811 | ||||||
MSCI, Inc., Class A * | 8,414 | 297,687 | ||||||
Northern Trust Corp. | 14,424 | 640,570 | ||||||
NYSE Euronext | 17,429 | 518,861 | ||||||
PHH Corp. * | 6,010 | 81,856 | ||||||
PICO Holdings, Inc. * | 3,005 | 66,441 | ||||||
Raymond James Financial, Inc. | 6,611 | 233,831 | ||||||
SEI Investments Co. | 10,818 | 213,655 |
18 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
SLM Corp. | 34,257 | 539,890 | ||||||
State Street Corp. | 33,656 | 1,421,293 | ||||||
Stifel Financial Corp. * | 3,005 | 112,778 | ||||||
T. Rowe Price Group, Inc. | 16,828 | 1,036,436 | ||||||
TD Ameritrade Holding Corp. | 15,626 | 291,737 | ||||||
The Bank of New York Mellon Corp. | 81,736 | 1,807,183 | ||||||
The Charles Schwab Corp. (b) | 68,860 | 955,777 | ||||||
The Goldman Sachs Group, Inc. | 28,247 | 3,252,360 | ||||||
The NASDAQ OMX Group, Inc. * | 10,217 | 269,116 | ||||||
Waddell & Reed Financial, Inc., Class A | 5,409 | 170,708 | ||||||
WisdomTree Investments, Inc. * | 7,212 | 51,061 | ||||||
World Acceptance Corp. * | 1,803 | 114,527 | ||||||
51,064,288 | ||||||||
Energy 11.2% | ||||||||
Alpha Natural Resources, Inc. * | 15,183 | 281,797 | ||||||
Anadarko Petroleum Corp. | 33,055 | 2,780,587 | ||||||
Apache Corp. | 25,242 | 2,724,369 | ||||||
Apco Oil & Gas International, Inc. (a) | 1,214 | 91,269 | ||||||
Arch Coal, Inc. | 13,222 | 179,423 | ||||||
Atwood Oceanics, Inc. * | 3,606 | 171,501 | ||||||
Baker Hughes, Inc. | 28,848 | 1,450,477 | ||||||
Berry Petroleum Co., Class A | 3,606 | 194,580 | ||||||
Bill Barrett Corp. * | 4,207 | 122,971 | ||||||
Bristow Group, Inc. | 3,005 | 141,866 | ||||||
Cabot Oil & Gas Corp. | 14,424 | 503,109 | ||||||
Cameron International Corp. * | 16,828 | 937,488 | ||||||
CARBO Ceramics, Inc. (a) | 1,803 | 165,245 | ||||||
Carrizo Oil & Gas, Inc. * | 1,546 | 43,551 | ||||||
Cheniere Energy, Inc. * | 6,010 | 90,390 | ||||||
Chesapeake Energy Corp. | 42,671 | 1,066,775 | ||||||
Chevron Corp. | 132,220 | 14,427,846 | ||||||
Cimarex Energy Co. | 6,010 | 484,827 | ||||||
Clayton Williams Energy, Inc. * | 601 | 53,098 | ||||||
Clean Energy Fuels Corp. *(a) | 4,207 | 79,050 | ||||||
Cloud Peak Energy, Inc. * | 4,207 | 74,548 | ||||||
Cobalt International Energy, Inc. * | 9,616 | 289,057 | ||||||
Comstock Resources, Inc. * | 3,005 | 48,170 | ||||||
Concho Resources, Inc. * | 7,212 | 770,530 | ||||||
ConocoPhillips | 81,736 | 6,256,891 | ||||||
CONSOL Energy, Inc. | 14,547 | 521,074 | ||||||
Contango Oil & Gas Co. * | 601 | 38,212 | ||||||
Continental Resources, Inc. * | 4,808 | 435,989 | ||||||
CVR Energy, Inc. * | 4,989 | 135,751 | ||||||
Denbury Resources, Inc. * | 25,892 | 515,510 | ||||||
Devon Energy Corp. | 27,051 | 1,983,109 | ||||||
Diamond Offshore Drilling, Inc. | 4,207 | 288,053 | ||||||
Dresser-Rand Group, Inc. * | 6,010 | 315,645 | ||||||
Dril-Quip, Inc. * | 3,005 | 210,320 | ||||||
El Paso Corp. | 52,888 | 1,470,815 | ||||||
Energen Corp. | 4,808 | 255,930 | ||||||
EOG Resources, Inc. | 18,030 | 2,052,896 | ||||||
EQT Corp. | 10,217 | 541,705 | ||||||
EXCO Resources, Inc. (a) | 11,419 | 81,417 | ||||||
Exterran Holdings, Inc. * | 4,235 | 60,984 | ||||||
Exxon Mobil Corp. | 316,727 | 27,396,886 | ||||||
FMC Technologies, Inc. * | 16,828 | 848,636 | ||||||
Forest Oil Corp. * | 7,212 | 93,251 | ||||||
Gulfmark Offshore, Inc., Class A * | 1,803 | 90,583 | ||||||
Gulfport Energy Corp. * | 3,025 | 101,701 | ||||||
Halliburton Co. | 60,100 | 2,199,059 | ||||||
Helix Energy Solutions Group, Inc. * | 6,611 | 127,196 | ||||||
Helmerich & Payne, Inc. | 6,611 | 405,254 | ||||||
Hess Corp. | 20,434 | 1,326,575 | ||||||
HollyFrontier Corp. | 14,424 | 470,655 | ||||||
Hornbeck Offshore Services, Inc. * | 2,404 | 97,963 | ||||||
ION Geophysical Corp. * | 11,419 | 81,760 | ||||||
Key Energy Services, Inc. * | 11,419 | 194,808 | ||||||
Kinder Morgan, Inc. (a) | 6,060 | 213,554 | ||||||
Kodiak Oil & Gas Corp. * | 22,854 | 221,455 | ||||||
Lufkin Industries, Inc. | 2,404 | 191,455 | ||||||
Magnum Hunter Resources Corp. *(a) | 8,470 | 58,612 | ||||||
Marathon Oil Corp. | 47,479 | 1,609,063 | ||||||
Marathon Petroleum Corp. | 24,040 | 998,862 | ||||||
McDermott International, Inc. * | 15,626 | 204,076 | ||||||
McMoRan Exploration Co. * | 9,261 | 129,654 | ||||||
Murphy Oil Corp. | 12,621 | 806,987 | ||||||
Nabors Industries Ltd. * | 19,833 | 431,963 | ||||||
National-Oilwell Varco, Inc. | 28,247 | 2,331,225 | ||||||
Newfield Exploration Co. * | 9,015 | 324,540 | ||||||
Newpark Resources, Inc. * | 6,040 | 47,535 | ||||||
Noble Corp. * | 17,071 | 685,913 | ||||||
Noble Energy, Inc. | 12,020 | 1,173,753 | ||||||
Northern Oil and Gas, Inc. * | 4,207 | 99,748 | ||||||
Oasis Petroleum, Inc. * | 4,808 | 154,193 | ||||||
Occidental Petroleum Corp. | 53,489 | 5,582,647 | ||||||
Oceaneering International, Inc. | 7,212 | 391,395 | ||||||
Oil States International, Inc. * | 3,305 | 268,432 | ||||||
Patterson-UTI Energy, Inc. | 10,818 | 210,086 | ||||||
Peabody Energy Corp. | 18,631 | 649,849 | ||||||
Petroleum Development Corp. * | 2,404 | 78,226 | ||||||
Pioneer Drilling Co. * | 7,813 | 77,817 | ||||||
Pioneer Natural Resources Co. | 7,813 | 856,617 | ||||||
Plains Exploration & Production Co. * | 9,616 | 423,777 | ||||||
QEP Resources, Inc. | 11,583 | 395,444 | ||||||
Range Resources Corp. | 10,818 | 688,890 | ||||||
Rosetta Resources, Inc. * | 4,207 | 214,725 | ||||||
Rowan Cos., Inc. * | 8,414 | 310,224 | ||||||
RPC, Inc. (a) | 2,214 | 35,446 | ||||||
SandRidge Energy, Inc. * | 23,460 | 203,398 | ||||||
Schlumberger Ltd. | 88,948 | 6,903,254 | ||||||
SEACOR Holdings, Inc. * | 1,202 | 118,854 | ||||||
SemGroup Corp., Class A * | 3,005 | 85,252 | ||||||
SM Energy Co. | 4,207 | 331,175 | ||||||
Southern Union Co. | 7,813 | 343,303 | ||||||
Southwestern Energy Co. * | 22,838 | 755,024 | ||||||
Spectra Energy Corp. | 42,671 | 1,339,016 | ||||||
Stone Energy Corp. * | 4,563 | 145,788 | ||||||
Sunoco, Inc. | 7,813 | 301,816 | ||||||
Superior Energy Services, Inc. * | 10,517 | 308,569 | ||||||
Swift Energy Co. * | 2,404 | 72,192 | ||||||
Targa Resources Corp. | 2,404 | 106,810 | ||||||
Teekay Corp. | 4,808 | 138,470 | ||||||
Tesco Corp. * | 5,409 | 82,866 | ||||||
Tesoro Corp. * | 9,616 | 255,112 | ||||||
The Williams Cos., Inc. | 38,464 | 1,149,304 | ||||||
Tidewater, Inc. | 3,606 | 214,557 | ||||||
Ultra Petroleum Corp. * | 10,217 | 255,016 | ||||||
Unit Corp. * | 3,005 | 142,948 | ||||||
Valero Energy Corp. | 37,262 | 912,546 | ||||||
W&T Offshore, Inc. | 2,404 | 60,701 | ||||||
Weatherford International Ltd. * | 48,093 | 768,526 |
See financial notes 19
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Western Refining, Inc. | 4,207 | 76,357 | ||||||
Whiting Petroleum Corp. * | 8,414 | 493,397 | ||||||
World Fuel Services Corp. | 4,207 | 175,264 | ||||||
WPX Energy, Inc. * | 12,800 | 232,448 | ||||||
111,609,278 | ||||||||
Food & Staples Retailing 2.0% | ||||||||
Casey’s General Stores, Inc. | 3,005 | 153,946 | ||||||
Costco Wholesale Corp. | 28,848 | 2,482,659 | ||||||
CVS Caremark Corp. | 89,093 | 4,018,094 | ||||||
Fresh Market, Inc. * | 2,404 | 108,228 | ||||||
PriceSmart, Inc. | 1,202 | 77,685 | ||||||
Rite Aid Corp. * | 40,535 | 62,424 | ||||||
Ruddick Corp. | 2,562 | 104,940 | ||||||
Safeway, Inc. | 23,289 | 499,549 | ||||||
SUPERVALU, Inc. (a) | 13,413 | 87,587 | ||||||
Sysco Corp. | 39,065 | 1,149,292 | ||||||
The Andersons, Inc. | 1,803 | 77,691 | ||||||
The Kroger Co. | 36,511 | 868,597 | ||||||
United Natural Foods, Inc. * | 3,005 | 136,788 | ||||||
Wal-Mart Stores, Inc. | 116,594 | 6,888,373 | ||||||
Walgreen Co. | 59,607 | 1,976,568 | ||||||
Whole Foods Market, Inc. | 10,217 | 824,921 | ||||||
19,517,342 | ||||||||
Food, Beverage & Tobacco 5.4% | ||||||||
Altria Group, Inc. | 138,230 | 4,160,723 | ||||||
Archer-Daniels-Midland Co. | 40,663 | 1,268,686 | ||||||
B&G Foods, Inc. | 3,606 | 83,948 | ||||||
Beam, Inc. | 10,217 | 562,752 | ||||||
Brown-Forman Corp., Class B | 7,212 | 588,860 | ||||||
Bunge Ltd. | 9,616 | 647,349 | ||||||
Campbell Soup Co. | 13,823 | 460,582 | ||||||
Coca-Cola Enterprises, Inc. | 21,636 | 625,280 | ||||||
ConAgra Foods, Inc. | 27,189 | 713,711 | ||||||
Constellation Brands, Inc., Class A * | 13,222 | 288,768 | ||||||
Corn Products International, Inc. | 5,409 | 310,206 | ||||||
Darling International, Inc. * | 7,813 | 124,930 | ||||||
Dean Foods Co. * | 11,419 | 139,997 | ||||||
Diamond Foods, Inc. | 1,803 | 43,128 | ||||||
Dole Food Co., Inc. * | 6,611 | 63,333 | ||||||
Dr. Pepper Snapple Group, Inc. | 13,996 | 532,548 | ||||||
Flowers Foods, Inc. | 9,616 | 184,050 | ||||||
Fresh Del Monte Produce, Inc. | 3,005 | 67,492 | ||||||
General Mills, Inc. | 40,868 | 1,565,653 | ||||||
Green Mountain Coffee Roasters, Inc. * | 7,813 | 507,611 | ||||||
H.J. Heinz Co. | 21,636 | 1,140,434 | ||||||
Hormel Foods Corp. | 9,616 | 273,768 | ||||||
J&J Snack Foods Corp. | 1,254 | 62,913 | ||||||
Kellogg Co. | 16,851 | 882,150 | ||||||
Kraft Foods, Inc., Class A | 108,180 | 4,118,413 | ||||||
Lancaster Colony Corp. | 1,214 | 79,116 | ||||||
Lorillard, Inc. | 9,015 | 1,181,686 | ||||||
McCormick & Co., Inc. | 8,414 | 424,486 | ||||||
Mead Johnson Nutrition Co. | 13,246 | 1,029,877 | ||||||
Molson Coors Brewing Co., Class B | 10,217 | 448,935 | ||||||
Monster Beverage Corp. * | 9,616 | 549,939 | ||||||
PepsiCo, Inc. | 103,372 | 6,506,234 | ||||||
Philip Morris International, Inc. | 115,993 | 9,687,735 | ||||||
Post Holdings, Inc. * | 1,803 | 56,145 | ||||||
Ralcorp Holdings, Inc. * | 3,606 | 269,008 | ||||||
Reynolds American, Inc. | 22,838 | 957,597 | ||||||
Sanderson Farms, Inc. | 1,803 | 88,708 | ||||||
Sara Lee Corp. | 38,464 | 778,896 | ||||||
Smithfield Foods, Inc. * | 10,217 | 239,384 | ||||||
Snyders-Lance, Inc. | 3,606 | 80,955 | ||||||
The Boston Beer Co., Inc., Class A *(a) | 601 | 56,807 | ||||||
The Coca-Cola Co. | 137,629 | 9,614,762 | ||||||
The Hain Celestial Group, Inc. * | 3,005 | 122,724 | ||||||
The Hershey Co. | 10,217 | 620,172 | ||||||
The J.M. Smucker Co. | 7,813 | 588,475 | ||||||
Tootsie Roll Industries, Inc. (a) | 1,803 | 41,920 | ||||||
TreeHouse Foods, Inc. * | 2,404 | 138,470 | ||||||
Tyson Foods, Inc., Class A | 18,631 | 352,312 | ||||||
Universal Corp. | 1,803 | 82,830 | ||||||
Vector Group Ltd. (a) | 3,418 | 62,037 | ||||||
53,476,495 | ||||||||
Health Care Equipment & Services 4.3% | ||||||||
Accretive Health, Inc. *(a) | 4,808 | 124,960 | ||||||
Aetna, Inc. | 25,242 | 1,180,316 | ||||||
Air Methods Corp. * | 1,202 | 108,456 | ||||||
Alere, Inc. * | 5,409 | 137,551 | ||||||
Align Technology, Inc. * | 5,409 | 138,524 | ||||||
Allscripts Healthcare Solutions, Inc. * | 12,621 | 243,838 | ||||||
AMERIGROUP Corp. * | 4,207 | 285,782 | ||||||
AmerisourceBergen Corp. | 18,030 | 673,421 | ||||||
AmSurg Corp. * | 4,207 | 109,929 | ||||||
ArthroCare Corp. * | 1,202 | 31,372 | ||||||
athenahealth, Inc. * | 2,404 | 169,891 | ||||||
Baxter International, Inc. | 38,464 | 2,235,912 | ||||||
Becton, Dickinson & Co. | 13,823 | 1,053,589 | ||||||
Boston Scientific Corp. * | 100,367 | 624,283 | ||||||
Brookdale Senior Living, Inc. * | 6,010 | 112,026 | ||||||
C.R. Bard, Inc. | 6,010 | 562,656 | ||||||
Cardinal Health, Inc. | 24,040 | 998,862 | ||||||
CareFusion Corp. * | 15,025 | 387,795 | ||||||
Catalyst Health Solutions, Inc. * | 3,005 | 186,370 | ||||||
Centene Corp. * | 3,606 | 175,973 | ||||||
Cerner Corp. * | 9,616 | 709,949 | ||||||
Chemed Corp. | 1,803 | 111,461 | ||||||
CIGNA Corp. | 19,360 | 853,970 | ||||||
Community Health Systems, Inc. * | 6,611 | 166,862 | ||||||
CONMED Corp. * | 4,207 | 125,537 | ||||||
Coventry Health Care, Inc. * | 10,217 | 333,994 | ||||||
Covidien plc | 33,055 | 1,727,124 | ||||||
Cyberonics, Inc. * | 2,404 | 89,501 | ||||||
DaVita, Inc. * | 6,611 | 572,182 | ||||||
DENTSPLY International, Inc. | 9,616 | 371,947 | ||||||
Dexcom, Inc. * | 5,409 | 58,363 | ||||||
Edwards Lifesciences Corp. * | 7,813 | 571,365 | ||||||
Emeritus Corp. * | 4,207 | 77,661 | ||||||
Express Scripts, Inc. * | 29,449 | 1,570,515 | ||||||
Gen-Probe, Inc. * | 3,005 | 205,181 | ||||||
Haemonetics Corp. * | 1,803 | 120,855 | ||||||
HCA Holdings, Inc. | 11,419 | 304,545 | ||||||
Health Management Associates, Inc., Class A * | 17,429 | 128,626 | ||||||
Health Net, Inc. * | 6,611 | 249,499 |
20 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
HEALTHSOUTH Corp. * | 6,010 | 122,364 | ||||||
Henry Schein, Inc. * | 6,010 | 444,860 | ||||||
Hill-Rom Holdings, Inc. | 4,207 | 142,912 | ||||||
HMS Holdings Corp. * | 7,212 | 232,371 | ||||||
Hologic, Inc. * | 16,828 | 348,844 | ||||||
Humana, Inc. | 11,419 | 994,595 | ||||||
IDEXX Laboratories, Inc. * | 4,207 | 360,750 | ||||||
Insulet Corp. * | 3,005 | 59,259 | ||||||
Integra LifeSciences Holdings Corp. * | 1,817 | 57,417 | ||||||
Intuitive Surgical, Inc. * | 2,697 | 1,379,839 | ||||||
Kindred Healthcare, Inc. * | 6,010 | 61,843 | ||||||
Laboratory Corp. of America Holdings * | 7,212 | 648,287 | ||||||
LifePoint Hospitals, Inc. * | 3,606 | 140,526 | ||||||
Lincare Holdings, Inc. | 6,611 | 177,571 | ||||||
Magellan Health Services, Inc. * | 2,404 | 113,613 | ||||||
MAKO Surgical Corp. *(a) | 4,808 | 187,993 | ||||||
Masimo Corp. * | 3,606 | 78,611 | ||||||
McKesson Corp. | 16,227 | 1,355,117 | ||||||
Medco Health Solutions, Inc. * | 25,843 | 1,746,728 | ||||||
MEDNAX, Inc. * | 3,005 | 223,542 | ||||||
Medtronic, Inc. | 70,318 | 2,680,522 | ||||||
Meridian Bioscience, Inc. | 4,207 | 75,810 | ||||||
Molina Healthcare, Inc. * | 1,202 | 40,820 | ||||||
MWI Veterinary Supply, Inc. * | 1,202 | 104,057 | ||||||
Neogen Corp. * | 1,803 | 62,564 | ||||||
NxStage Medical, Inc. * | 3,606 | 72,120 | ||||||
Omnicare, Inc. | 7,813 | 274,861 | ||||||
Owens & Minor, Inc. | 4,207 | 126,042 | ||||||
Patterson Cos., Inc. | 6,611 | 211,023 | ||||||
PSS World Medical, Inc. * | 4,207 | 101,936 | ||||||
Quality Systems, Inc. | 3,606 | 154,589 | ||||||
Quest Diagnostics, Inc. | 10,217 | 593,097 | ||||||
ResMed, Inc. * | 9,616 | 281,749 | ||||||
Sirona Dental Systems, Inc. * | 4,335 | 216,317 | ||||||
St. Jude Medical, Inc. | 22,849 | 962,400 | ||||||
STERIS Corp. | 3,606 | 113,156 | ||||||
Stryker Corp. | 20,434 | 1,096,080 | ||||||
Teleflex, Inc. | 2,404 | 142,485 | ||||||
Tenet Healthcare Corp. * | 32,454 | 183,365 | ||||||
The Cooper Cos., Inc. | 3,005 | 238,837 | ||||||
Thoratec Corp. * | 3,606 | 124,407 | ||||||
UnitedHealth Group, Inc. | 70,918 | 3,953,678 | ||||||
Universal American Corp. | 5,409 | 61,338 | ||||||
Universal Health Services, Inc., Class B | 6,010 | 268,106 | ||||||
Varian Medical Systems, Inc. * | 8,414 | 549,014 | ||||||
VCA Antech, Inc. * | 5,409 | 118,944 | ||||||
Volcano Corp. * | 3,606 | 101,076 | ||||||
WellCare Health Plans, Inc. * | 3,005 | 203,919 | ||||||
WellPoint, Inc. | 23,439 | 1,538,302 | ||||||
West Pharmaceutical Services, Inc. | 2,404 | 100,006 | ||||||
Wright Medical Group, Inc. * | 3,606 | 59,715 | ||||||
Zimmer Holdings, Inc. * | 12,621 | 766,726 | ||||||
Zoll Medical Corp. * | 1,803 | 131,889 | ||||||
42,476,635 | ||||||||
Household & Personal Products 2.1% | ||||||||
Avon Products, Inc. | 28,247 | 527,936 | ||||||
Church & Dwight Co., Inc. | 9,616 | 459,068 | ||||||
Colgate-Palmolive Co. | 30,050 | 2,800,059 | ||||||
Elizabeth Arden, Inc. * | 2,404 | 89,309 | ||||||
Energizer Holdings, Inc. * | 4,808 | 367,572 | ||||||
Herbalife Ltd. | 8,414 | 557,091 | ||||||
Kimberly-Clark Corp. | 25,843 | 1,883,438 | ||||||
Nu Skin Enterprises, Inc., Class A | 4,207 | 242,996 | ||||||
Spectrum Brands Holdings, Inc. * | 3,005 | 85,402 | ||||||
The Clorox Co. | 9,015 | 609,504 | ||||||
The Estee Lauder Cos., Inc., Class A | 15,626 | 914,746 | ||||||
The Procter & Gamble Co. | 181,502 | 12,255,015 | ||||||
20,792,136 | ||||||||
Insurance 3.7% | ||||||||
ACE Ltd. | 22,237 | 1,594,615 | ||||||
Aflac, Inc. | 31,252 | 1,476,657 | ||||||
Alleghany Corp. *(a) | 608 | 197,381 | ||||||
Allied World Assurance Co. Holdings AG | 2,404 | 158,592 | ||||||
American Financial Group, Inc. | 6,010 | 225,075 | ||||||
American International Group, Inc. * | 27,646 | 807,816 | ||||||
American National Insurance Co. | 1,202 | 86,664 | ||||||
AMERISAFE, Inc. * | 1,202 | 27,117 | ||||||
AmTrust Financial Services, Inc. | 1,803 | 48,699 | ||||||
Aon Corp. | 21,657 | 1,013,764 | ||||||
Arch Capital Group Ltd. * | 9,015 | 334,006 | ||||||
Argo Group International Holdings Ltd. | 2,404 | 71,759 | ||||||
Arthur J. Gallagher & Co. | 7,212 | 246,073 | ||||||
Aspen Insurance Holdings Ltd. | 4,808 | 127,556 | ||||||
Assurant, Inc. | 6,218 | 264,078 | ||||||
Assured Guaranty Ltd. | 10,892 | 182,986 | ||||||
Axis Capital Holdings Ltd. | 9,616 | 296,654 | ||||||
Berkshire Hathaway, Inc., Class B * | 126,210 | 9,901,175 | ||||||
Brown & Brown, Inc. | 7,813 | 184,621 | ||||||
Cincinnati Financial Corp. | 10,217 | 359,332 | ||||||
CNA Financial Corp. | 2,420 | 68,268 | ||||||
CNO Financial Group, Inc. * | 14,426 | 107,041 | ||||||
Delphi Financial Group, Inc., Class A | 3,606 | 160,683 | ||||||
Endurance Specialty Holdings Ltd. | 3,606 | 138,687 | ||||||
Enstar Group Ltd. * | 601 | 58,285 | ||||||
Erie Indemnity Co., Class A | 2,404 | 182,968 | ||||||
Everest Re Group Ltd. | 3,606 | 316,787 | ||||||
FBL Financial Group, Inc., Class A | 601 | 20,416 | ||||||
Fidelity National Financial, Inc., Class A | 15,626 | 269,705 | ||||||
First American Financial Corp. | 7,212 | 111,065 | ||||||
Genworth Financial, Inc., Class A * | 31,853 | 289,544 | ||||||
Greenlight Capital Re Ltd., Class A * | 1,803 | 42,461 | ||||||
Hanover Insurance Group, Inc. | 3,606 | 147,197 | ||||||
Hartford Financial Services Group, Inc. | 28,937 | 599,285 | ||||||
HCC Insurance Holdings, Inc. | 7,212 | 220,255 | ||||||
Infinity Property & Casualty Corp. | 601 | 32,953 | ||||||
Kemper Corp. | 3,606 | 103,204 | ||||||
Lincoln National Corp. | 19,833 | 492,652 | ||||||
Loews Corp. | 23,439 | 917,403 | ||||||
Markel Corp. * | 601 | 245,178 | ||||||
Marsh & McLennan Cos., Inc. | 34,858 | 1,087,570 | ||||||
MBIA, Inc. *(a) | 14,424 | 155,491 | ||||||
Mercury General Corp. | 2,404 | 103,084 | ||||||
MetLife, Inc. | 54,691 | 2,108,338 | ||||||
Montpelier Re Holdings Ltd. | 5,409 | 93,305 |
See financial notes 21
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Old Republic International Corp. | 15,770 | 171,262 | ||||||
PartnerRe Ltd. | 4,391 | 278,565 | ||||||
Platinum Underwriters Holdings Ltd. | 3,005 | 106,858 | ||||||
Primerica, Inc. | 3,005 | 75,185 | ||||||
Principal Financial Group, Inc. | 20,434 | 565,204 | ||||||
ProAssurance Corp. | 2,404 | 210,975 | ||||||
Protective Life Corp. | 5,409 | 150,208 | ||||||
Prudential Financial, Inc. | 31,853 | 1,948,130 | ||||||
Reinsurance Group of America, Inc. | 4,808 | 277,277 | ||||||
RenaissanceRe Holdings Ltd. | 3,606 | 259,488 | ||||||
RLI Corp. | 1,202 | 84,212 | ||||||
Safety Insurance Group, Inc. | 1,202 | 51,301 | ||||||
Selective Insurance Group, Inc. | 3,606 | 61,951 | ||||||
StanCorp Financial Group, Inc. | 3,005 | 119,479 | ||||||
The Allstate Corp. | 31,853 | 1,001,140 | ||||||
The Chubb Corp. | 18,202 | 1,237,008 | ||||||
The Navigators Group, Inc. * | 1,208 | 56,788 | ||||||
The Progressive Corp. | 42,070 | 901,139 | ||||||
The Travelers Cos., Inc. | 28,247 | 1,637,479 | ||||||
Torchmark Corp. | 6,819 | 330,312 | ||||||
Tower Group, Inc. | 2,404 | 55,412 | ||||||
Transatlantic Holdings, Inc. | 4,207 | 254,944 | ||||||
Unum Group | 19,147 | 441,338 | ||||||
Validus Holdings Ltd. | 4,808 | 146,596 | ||||||
W.R. Berkley Corp. | 7,356 | 262,977 | ||||||
White Mountains Insurance Group Ltd. | 601 | 298,228 | ||||||
XL Group plc | 22,838 | 475,030 | ||||||
37,134,931 | ||||||||
Materials 4.1% | ||||||||
A. Schulman, Inc. | 2,404 | 62,119 | ||||||
AbitibiBowater, Inc. * | 5,409 | 82,758 | ||||||
Air Products & Chemicals, Inc. | 13,222 | 1,193,153 | ||||||
Airgas, Inc. | 4,808 | 395,843 | ||||||
Albemarle Corp. | 6,010 | 399,785 | ||||||
Alcoa, Inc. | 67,312 | 684,563 | ||||||
Allegheny Technologies, Inc. | 6,611 | 290,025 | ||||||
Allied Nevada Gold Corp. * | 5,409 | 186,124 | ||||||
AMCOL International Corp. | 3,606 | 105,764 | ||||||
AptarGroup, Inc. | 4,207 | 222,045 | ||||||
Ashland, Inc. | 4,808 | 305,596 | ||||||
Balchem Corp. | 2,404 | 65,509 | ||||||
Ball Corp. | 12,020 | 481,762 | ||||||
Bemis Co., Inc. | 7,212 | 226,240 | ||||||
Boise, Inc. | 7,813 | 64,301 | ||||||
Buckeye Technologies, Inc. | 3,005 | 102,651 | ||||||
Cabot Corp. | 4,207 | 170,426 | ||||||
Calgon Carbon Corp. * | 6,611 | 99,892 | ||||||
Carpenter Technology Corp. | 3,005 | 154,157 | ||||||
Celanese Corp., Series A | 10,818 | 514,612 | ||||||
CF Industries Holdings, Inc. | 4,808 | 894,288 | ||||||
Chemtura Corp. * | 7,212 | 111,930 | ||||||
Clearwater Paper Corp. * | 1,803 | 61,861 | ||||||
Cliffs Natural Resources, Inc. | 9,616 | 610,424 | ||||||
Coeur d’Alene Mines Corp. * | 6,010 | 170,924 | ||||||
Commercial Metals Co. | 7,813 | 103,835 | ||||||
Compass Minerals International, Inc. | 2,404 | 173,208 | ||||||
Crown Holdings, Inc. * | 10,818 | 399,941 | ||||||
Cytec Industries, Inc. | 3,005 | 178,677 | ||||||
Domtar Corp. | 2,404 | 230,471 | ||||||
E.I. du Pont de Nemours & Co. | 61,302 | 3,117,207 | ||||||
Eagle Materials, Inc. | 3,606 | 113,156 | ||||||
Eastman Chemical Co. | 8,414 | 455,450 | ||||||
Ecolab, Inc. | 18,036 | 1,082,160 | ||||||
FMC Corp. | 4,808 | 475,848 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 61,302 | 2,609,013 | ||||||
Georgia Gulf Corp. * | 1,202 | 38,777 | ||||||
Graphic Packaging Holding Co. * | 19,833 | 104,718 | ||||||
Greif, Inc., Class A | 2,404 | 123,109 | ||||||
H.B. Fuller Co. | 4,808 | 144,865 | ||||||
Haynes International, Inc. | 1,202 | 76,075 | ||||||
Hecla Mining Co. | 16,828 | 85,486 | ||||||
Huntsman Corp. | 12,020 | 164,193 | ||||||
Innophos Holdings, Inc. | 1,803 | 90,835 | ||||||
International Flavors & Fragrances, Inc. | 4,808 | 274,200 | ||||||
International Paper Co. | 27,045 | 950,632 | ||||||
Intrepid Potash, Inc. * | 3,606 | 91,196 | ||||||
Kaiser Aluminum Corp. | 2,404 | 116,209 | ||||||
KapStone Paper and Packaging Corp. * | 3,025 | 60,803 | ||||||
Louisiana-Pacific Corp. * | 9,015 | 73,653 | ||||||
LyondellBasell Industries N.V., Class A | 23,439 | 1,012,096 | ||||||
Martin Marietta Materials, Inc. (a) | 3,005 | 258,039 | ||||||
McEwen Mining, Inc. *(a) | 10,217 | 53,435 | ||||||
MeadWestvaco Corp. | 11,419 | 345,767 | ||||||
Minerals Technologies, Inc. | 1,803 | 116,420 | ||||||
Molycorp, Inc. *(a) | 3,606 | 89,068 | ||||||
Monsanto Co. | 36,060 | 2,790,323 | ||||||
NewMarket Corp. | 627 | 114,384 | ||||||
Newmont Mining Corp. | 31,853 | 1,892,068 | ||||||
Nucor Corp. | 19,232 | 837,169 | ||||||
Olin Corp. | 6,010 | 126,390 | ||||||
OM Group, Inc. * | 3,005 | 82,577 | ||||||
Owens-Illinois, Inc. * | 11,419 | 272,914 | ||||||
Packaging Corp. of America | 6,611 | 195,950 | ||||||
PolyOne Corp. | 6,010 | 80,714 | ||||||
PPG Industries, Inc. | 10,217 | 932,301 | ||||||
Praxair, Inc. | 20,434 | 2,227,306 | ||||||
Reliance Steel & Aluminum Co. | 5,409 | 290,571 | ||||||
Rock-Tenn Co., Class A | 4,949 | 348,855 | ||||||
Rockwood Holdings, Inc. * | 4,808 | 256,026 | ||||||
Royal Gold, Inc. | 3,615 | 251,062 | ||||||
RPM International, Inc. | 9,015 | 215,188 | ||||||
Schnitzer Steel Industries, Inc., Class A | 1,803 | 81,423 | ||||||
Schweitzer-Mauduit International, Inc. | 1,803 | 126,300 | ||||||
Sealed Air Corp. | 13,222 | 259,548 | ||||||
Sensient Technologies Corp. | 3,606 | 133,386 | ||||||
Sigma-Aldrich Corp. | 7,212 | 517,750 | ||||||
Silgan Holdings, Inc. | 3,106 | 132,067 | ||||||
Solutia, Inc. | 8,414 | 236,518 | ||||||
Sonoco Products Co. | 6,611 | 217,105 | ||||||
Southern Copper Corp. | 11,540 | 371,132 | ||||||
Steel Dynamics, Inc. | 14,424 | 213,619 | ||||||
Stillwater Mining Co. * | 5,409 | 76,808 | ||||||
SunCoke Energy, Inc. * | 4,112 | 58,925 | ||||||
Texas Industries, Inc. | 2,404 | 81,327 | ||||||
The Dow Chemical Co. | 77,529 | 2,597,997 | ||||||
The Mosaic Co. | 18,631 | 1,075,940 |
22 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
The Scotts Miracle-Gro Co., Class A (a) | 3,005 | 140,754 | ||||||
The Sherwin-Williams Co. | 6,611 | 681,925 | ||||||
The Valspar Corp. | 6,010 | 278,564 | ||||||
Titanium Metals Corp. | 6,611 | 96,917 | ||||||
United States Steel Corp. (a) | 9,616 | 261,748 | ||||||
Valhi, Inc. | 601 | 34,467 | ||||||
Vulcan Materials Co. | 7,212 | 321,367 | ||||||
W.R. Grace & Co. * | 4,207 | 239,631 | ||||||
Walter Energy, Inc. | 4,207 | 272,740 | ||||||
Westlake Chemical Corp. | 1,803 | 108,595 | ||||||
Worthington Industries, Inc. | 4,239 | 71,512 | ||||||
40,467,157 | ||||||||
Media 3.1% | ||||||||
AMC Networks, Inc., Class A * | 4,207 | 190,956 | ||||||
Arbitron, Inc. | 658 | 22,004 | ||||||
Cablevision Systems Corp., Class A | 15,626 | 222,358 | ||||||
CBS Corp., Class B | 41,469 | 1,239,923 | ||||||
Charter Communications, Inc., Class A * | 3,005 | 190,547 | ||||||
Cinemark Holdings, Inc. | 4,808 | 100,583 | ||||||
Clear Channel Outdoor Holdings, Inc., Class A * | 6,010 | 79,512 | ||||||
Comcast Corp., Class A | 180,901 | 5,314,871 | ||||||
DIRECTV, Class A * | 49,883 | 2,310,581 | ||||||
Discovery Communications, Inc., Series A * | 18,631 | 869,136 | ||||||
DISH Network Corp., Class A | 14,424 | 420,748 | ||||||
DreamWorks Animation SKG, Inc., Class A * | 4,808 | 82,986 | ||||||
Gannett Co., Inc. | 16,828 | 249,727 | ||||||
John Wiley & Sons, Inc., Class A | 3,005 | 136,427 | ||||||
Lamar Advertising Co., Class A * | 4,207 | 137,569 | ||||||
Liberty Global, Inc., Series A * | 16,828 | 844,429 | ||||||
Liberty Media Corp. - Liberty Capital, Series A * | 7,813 | 702,311 | ||||||
Live Nation Entertainment, Inc. * | 9,106 | 84,868 | ||||||
Madison Square Garden, Inc., Class A * | 3,659 | 116,539 | ||||||
Meredith Corp. (a) | 3,005 | 98,864 | ||||||
Morningstar, Inc. | 1,803 | 107,946 | ||||||
National CineMedia, Inc. | 4,235 | 67,379 | ||||||
News Corp., Class A | 150,687 | 2,994,151 | ||||||
Omnicom Group, Inc. | 19,232 | 950,830 | ||||||
Regal Entertainment Group, Class A (a) | 5,409 | 74,752 | ||||||
Scripps Networks Interactive, Class A | 5,409 | 244,487 | ||||||
Sirius XM Radio, Inc. * | 260,233 | 588,127 | ||||||
The Interpublic Group of Cos., Inc. | 31,853 | 373,317 | ||||||
The McGraw-Hill Cos., Inc. | 21,035 | 978,969 | ||||||
The New York Times Co., Class A * | 10,818 | 71,291 | ||||||
The Walt Disney Co. | 112,439 | 4,721,314 | ||||||
The Washington Post Co., Class B (a) | 601 | 236,734 | ||||||
Time Warner Cable, Inc. | 21,636 | 1,716,600 | ||||||
Time Warner, Inc. | 67,959 | 2,528,754 | ||||||
Valassis Communications, Inc. * | 3,005 | 75,065 | ||||||
Viacom, Inc., Class B | 36,060 | 1,717,177 | ||||||
Virgin Media, Inc. | 19,232 | 484,646 | ||||||
31,346,478 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 7.1% | ||||||||
Abbott Laboratories | 102,170 | 5,783,844 | ||||||
Acorda Therapeutics, Inc. * | 4,207 | 110,055 | ||||||
Aedea Biosciences, Inc. * | 2,404 | 51,253 | ||||||
Agilent Technologies, Inc. * | 22,838 | 996,194 | ||||||
Alexion Pharmaceuticals, Inc. * | 12,020 | 1,006,435 | ||||||
Alkermes plc * | 6,611 | 116,420 | ||||||
Allergan, Inc. | 21,035 | 1,884,526 | ||||||
Amgen, Inc. | 58,297 | 3,961,281 | ||||||
Amylin Pharmaceuticals, Inc. * | 9,616 | 164,337 | ||||||
ARIAD Pharmaceuticals, Inc. * | 12,020 | 172,367 | ||||||
Auxilium Pharmaceuticals, Inc. * | 3,005 | 59,379 | ||||||
Bio-Rad Laboratories, Inc., Class A * | 1,202 | 122,508 | ||||||
Biogen Idec, Inc. * | 16,227 | 1,889,959 | ||||||
BioMarin Pharmaceutical, Inc. * | 7,212 | 257,829 | ||||||
Bristol-Myers Squibb Co. | 112,988 | 3,634,824 | ||||||
Bruker Corp. * | 5,409 | 86,706 | ||||||
Celgene Corp. * | 30,651 | 2,247,485 | ||||||
Cepheid, Inc. * | 4,808 | 194,195 | ||||||
Charles River Laboratories International, Inc. * | 4,207 | 147,792 | ||||||
Covance, Inc. * | 4,207 | 200,800 | ||||||
Cubist Pharmaceuticals, Inc. * | 5,409 | 231,830 | ||||||
Dendreon Corp. *(a) | 10,217 | 115,043 | ||||||
Eli Lilly & Co. | 64,908 | 2,546,990 | ||||||
Endo Pharmaceuticals Holdings, Inc. * | 7,813 | 289,628 | ||||||
Forest Laboratories, Inc. * | 18,030 | 586,336 | ||||||
Gilead Sciences, Inc. * | 51,085 | 2,324,367 | ||||||
Halozyme Therapeutics, Inc. * | 6,010 | 69,175 | ||||||
Hospira, Inc. * | 10,818 | 385,337 | ||||||
Human Genome Sciences, Inc. * | 12,621 | 99,453 | ||||||
Idenix Pharmaceuticals, Inc. * | 5,409 | 63,664 | ||||||
Illumina, Inc. * | 8,414 | 431,217 | ||||||
ImmunoGen, Inc. * | 5,409 | 74,482 | ||||||
Impax Laboratories, Inc. * | 5,413 | 126,393 | ||||||
Incyte Corp. *(a) | 8,414 | 142,701 | ||||||
InterMune, Inc. * | 5,409 | 72,589 | ||||||
Ironwood Pharmaceuticals, Inc. * | 6,166 | 82,563 | ||||||
Jazz Pharmaceuticals plc * | 3,040 | 159,509 | ||||||
Johnson & Johnson | 180,300 | 11,733,924 | ||||||
Life Technologies Corp. * | 12,020 | 568,666 | ||||||
Luminex Corp. * | 3,005 | 67,522 | ||||||
Medicis Pharmaceutical Corp., Class A | 4,207 | 146,993 | ||||||
Medivation, Inc. * | 2,404 | 157,486 | ||||||
Merck & Co., Inc. | 201,936 | 7,707,897 | ||||||
Mettler-Toledo International, Inc. * | 2,404 | 433,393 | ||||||
Micromet, Inc. * | 6,010 | 66,050 | ||||||
Mylan, Inc. * | 27,646 | 648,022 | ||||||
Myriad Genetics, Inc. * | 6,010 | 145,442 | ||||||
Nektar Therapeutics *(a) | 9,015 | 64,638 | ||||||
Onyx Pharmaceuticals, Inc. * | 4,207 | 161,212 | ||||||
Opko Health, Inc. *(a) | 10,818 | 53,441 | ||||||
Par Pharmaceutical Cos., Inc. * | 4,207 | 156,122 | ||||||
PAREXEL International Corp. * | 3,685 | 90,209 | ||||||
PDL BioPharma, Inc. | 12,020 | 76,688 | ||||||
PerkinElmer, Inc. | 8,414 | 227,178 | ||||||
Perrigo Co. | 6,010 | 619,391 | ||||||
Pfizer, Inc. | 505,441 | 10,664,805 | ||||||
Pharmacyclics, Inc. * | 3,606 | 90,835 | ||||||
Questcor Pharmaceuticals, Inc. * | 4,207 | 163,652 |
See financial notes 23
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Regeneron Pharmaceuticals, Inc. * | 5,409 | 566,809 | ||||||
Salix Pharmaceuticals Ltd. * | 4,808 | 237,131 | ||||||
Seattle Genetics, Inc. *(a) | 10,217 | 188,606 | ||||||
Spectrum Pharmaceuticals, Inc. * | 4,207 | 59,697 | ||||||
Techne Corp. | 2,404 | 172,102 | ||||||
The Medicines Co. * | 5,409 | 115,915 | ||||||
Theravance, Inc. * | 4,933 | 92,247 | ||||||
Thermo Fisher Scientific, Inc. * | 26,444 | 1,497,259 | ||||||
United Therapeutics Corp. * | 3,606 | 172,114 | ||||||
Vertex Pharmaceuticals, Inc. * | 13,823 | 537,991 | ||||||
ViroPharma, Inc. * | 4,864 | 155,940 | ||||||
VIVUS, Inc. * | 6,010 | 135,225 | ||||||
Warner Chilcott plc, Class A * | 12,426 | 207,887 | ||||||
Waters Corp. * | 6,010 | 538,496 | ||||||
Watson Pharmaceuticals, Inc. * | 9,015 | 525,755 | ||||||
70,136,206 | ||||||||
Real Estate 3.3% | ||||||||
Acadia Realty Trust | 2,404 | 50,941 | ||||||
Alexander’s, Inc. | 199 | 75,511 | ||||||
Alexandria Real Estate Equities, Inc. | 4,207 | 301,600 | ||||||
American Campus Communities, Inc. | 4,207 | 173,118 | ||||||
American Capital Agency Corp. | 14,424 | 442,961 | ||||||
American Tower Corp. | 26,444 | 1,654,866 | ||||||
Annaly Capital Management, Inc. | 65,509 | 1,088,760 | ||||||
Anworth Mortgage Asset Corp. | 13,222 | 85,943 | ||||||
Apartment Investment & Management Co., Class A | 8,414 | 209,004 | ||||||
AvalonBay Communities, Inc. | 6,611 | 857,248 | ||||||
BioMed Realty Trust, Inc. | 10,217 | 188,197 | ||||||
Boston Properties, Inc. | 9,616 | 976,505 | ||||||
Brandywine Realty Trust | 10,217 | 110,446 | ||||||
BRE Properties, Inc. | 4,808 | 232,851 | ||||||
Brookfield Office Properties, Inc. | 17,429 | 304,136 | ||||||
Camden Property Trust | 4,808 | 298,096 | ||||||
Capstead Mortgage Corp. | 7,212 | 95,920 | ||||||
CBL & Associates Properties, Inc. | 11,419 | 201,317 | ||||||
CBRE Group, Inc. * | 19,243 | 352,724 | ||||||
Chimera Investment Corp. | 64,998 | 199,544 | ||||||
Colonial Properties Trust | 6,010 | 123,325 | ||||||
Colony Financial, Inc. | 4,808 | 80,197 | ||||||
CommonWealth REIT | 6,010 | 111,786 | ||||||
Corporate Office Properties Trust | 3,606 | 88,419 | ||||||
Cousins Properties, Inc. | 13,946 | 103,061 | ||||||
CubeSmart | 7,212 | 81,351 | ||||||
CYS Investments, Inc. | 9,015 | 122,334 | ||||||
DCT Industrial Trust, Inc. | 20,434 | 115,656 | ||||||
DDR Corp. | 16,227 | 229,288 | ||||||
DiamondRock Hospitality Co. | 12,659 | 126,084 | ||||||
Digital Realty Trust, Inc. | 7,212 | 522,870 | ||||||
Douglas Emmett, Inc. | 8,414 | 177,283 | ||||||
Duke Realty Corp. | 15,025 | 208,547 | ||||||
DuPont Fabros Technology, Inc. | 4,207 | 96,340 | ||||||
EastGroup Properties, Inc. | 2,404 | 115,849 | ||||||
Education Realty Trust, Inc. | 7,212 | 74,139 | ||||||
Entertainment Properties Trust | 3,005 | 136,728 | ||||||
Equity Lifestyle Properties, Inc. | 3,005 | 199,863 | ||||||
Equity One, Inc. | 6,010 | 114,310 | ||||||
Equity Residential | 20,434 | 1,162,490 | ||||||
Essex Property Trust, Inc. | 2,404 | 336,536 | ||||||
Extra Space Storage, Inc. | 6,611 | 174,332 | ||||||
Federal Realty Investment Trust | 4,207 | 401,137 | ||||||
First Industrial Realty Trust, Inc. * | 6,010 | 71,038 | ||||||
Forest City Enterprises, Inc., Class A * | 10,818 | 158,159 | ||||||
Franklin Street Properties Corp. | 5,409 | 55,767 | ||||||
General Growth Properties, Inc. | 25,843 | 420,466 | ||||||
Glimcher Realty Trust | 7,212 | 71,399 | ||||||
Government Properties Income Trust | 3,014 | 70,317 | ||||||
Hatteras Financial Corp. | 5,409 | 154,048 | ||||||
HCP, Inc. | 27,646 | 1,092,017 | ||||||
Health Care REIT, Inc. | 12,621 | 687,087 | ||||||
Healthcare Realty Trust, Inc. | 4,808 | 99,381 | ||||||
Highwoods Properties, Inc. | 4,808 | 153,856 | ||||||
Home Properties, Inc. | 3,606 | 207,814 | ||||||
Hospitality Properties Trust | 8,414 | 208,078 | ||||||
Host Hotels & Resorts, Inc. | 44,474 | 701,800 | ||||||
Invesco Mortgage Capital | 7,212 | 123,542 | ||||||
Jones Lang LaSalle, Inc. | 3,005 | 244,637 | ||||||
Kilroy Realty Corp. | 3,606 | 158,087 | ||||||
Kimco Realty Corp. | 25,843 | 474,994 | ||||||
LaSalle Hotel Properties | 5,409 | 144,312 | ||||||
Lexington Realty Trust | 13,222 | 114,370 | ||||||
Liberty Property Trust | 7,212 | 244,631 | ||||||
LTC Properties, Inc. | 3,005 | 92,734 | ||||||
Mack-Cali Realty Corp. | 4,808 | 137,509 | ||||||
Medical Properties Trust, Inc. | 7,813 | 75,942 | ||||||
MFA Financial, Inc. | 23,439 | 171,105 | ||||||
Mid-America Apartment Communities, Inc. | 2,404 | 149,937 | ||||||
National Health Investors, Inc. | 3,005 | 141,626 | ||||||
National Retail Properties, Inc. | 6,010 | 160,167 | ||||||
OMEGA Healthcare Investors, Inc. | 6,010 | 122,424 | ||||||
Pebblebrook Hotel Trust | 6,010 | 128,794 | ||||||
Pennsylvania REIT | 4,207 | 56,458 | ||||||
Piedmont Office Realty Trust, Inc., Class A | 12,020 | 211,792 | ||||||
Plum Creek Timber Co., Inc. | 10,818 | 423,633 | ||||||
Post Properties, Inc. | 3,005 | 131,228 | ||||||
Potlatch Corp. | 3,005 | 92,614 | ||||||
ProLogis, Inc. | 31,252 | 1,051,942 | ||||||
PS Business Parks, Inc. | 1,803 | 112,543 | ||||||
Public Storage | 9,616 | 1,289,217 | ||||||
Rayonier, Inc. | 8,414 | 374,591 | ||||||
Realty Income Corp. | 9,015 | 332,563 | ||||||
Redwood Trust, Inc. | 6,611 | 76,489 | ||||||
Regency Centers Corp. | 6,010 | 257,168 | ||||||
RLJ Lodging Trust | 3,606 | 63,177 | ||||||
Rouse Properties, Inc. * | 941 | 13,767 | ||||||
Saul Centers, Inc. | 1,830 | 69,284 | ||||||
Senior Housing Properties Trust | 10,818 | 231,505 | ||||||
Simon Property Group, Inc. | 19,232 | 2,605,551 | ||||||
SL Green Realty Corp. | 6,010 | 457,060 | ||||||
Sovran Self Storage, Inc. | 3,005 | 142,768 | ||||||
Starwood Property Trust, Inc. | 4,808 | 94,910 | ||||||
Strategic Hotels & Resorts, Inc. * | 12,020 | 74,885 | ||||||
Sun Communities, Inc. | 1,815 | 75,123 | ||||||
Sunstone Hotel Investors, Inc. * | 12,020 | 107,940 | ||||||
Tanger Factory Outlet Centers, Inc. | 4,808 | 140,778 | ||||||
Taubman Centers, Inc. | 3,606 | 249,066 | ||||||
The Howard Hughes Corp. * | 2,407 | 133,709 | ||||||
The Macerich Co. | 9,015 | 486,720 | ||||||
The St. Joe Co. * | 6,611 | 106,503 | ||||||
Two Harbors Investment Corp. | 9,015 | 92,674 |
24 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
UDR, Inc. | 15,626 | 390,963 | ||||||
Ventas, Inc. | 19,232 | 1,075,453 | ||||||
Vornado Realty Trust | 12,020 | 982,395 | ||||||
Washington REIT | 3,606 | 106,810 | ||||||
Weingarten Realty Investors | 8,414 | 209,509 | ||||||
Weyerhaeuser Co. | 34,858 | 728,184 | ||||||
32,686,623 | ||||||||
Retailing 4.0% | ||||||||
Aaron’s, Inc. | 5,409 | 151,127 | ||||||
Abercrombie & Fitch Co., Class A | 5,409 | 247,678 | ||||||
Advance Auto Parts, Inc. | 5,409 | 461,766 | ||||||
Aeropostale, Inc. * | 5,409 | 97,200 | ||||||
Amazon.com, Inc. * | 23,439 | 4,211,754 | ||||||
American Eagle Outfitters, Inc. | 12,020 | 174,771 | ||||||
Ann, Inc. * | 3,723 | 88,942 | ||||||
Ascena Retail Group, Inc. * | 4,808 | 185,589 | ||||||
AutoNation, Inc. * | 2,404 | 81,928 | ||||||
AutoZone, Inc. * | 2,003 | 750,083 | ||||||
Bed Bath & Beyond, Inc. * | 16,227 | 969,401 | ||||||
Best Buy Co., Inc. | 18,631 | 460,186 | ||||||
Big Lots, Inc. * | 5,409 | 237,185 | ||||||
Blue Nile, Inc. *(a) | 1,803 | 64,277 | ||||||
Cabela’s, Inc. * | 3,287 | 116,623 | ||||||
CarMax, Inc. * | 15,025 | 461,117 | ||||||
Chico’s FAS, Inc. | 12,020 | 180,420 | ||||||
Collective Brands, Inc. * | 3,005 | 54,150 | ||||||
Dick’s Sporting Goods, Inc. | 5,409 | 242,107 | ||||||
Dillard’s, Inc., Class A | 2,404 | 146,981 | ||||||
Dollar General Corp. * | 8,414 | 353,893 | ||||||
Dollar Tree, Inc. * | 8,414 | 744,723 | ||||||
DSW, Inc., Class A | 2,404 | 135,586 | ||||||
Expedia, Inc. | 6,879 | 234,230 | ||||||
Express, Inc. * | 2,602 | 61,928 | ||||||
Family Dollar Stores, Inc. | 8,414 | 454,272 | ||||||
Foot Locker, Inc. | 10,818 | 315,561 | ||||||
GameStop Corp., Class A (a) | 10,217 | 232,743 | ||||||
Genesco, Inc. * | 1,803 | 122,856 | ||||||
Genuine Parts Co. | 10,217 | 640,402 | ||||||
GNC Holdings, Inc., Class A * | 4,207 | 136,181 | ||||||
Group 1 Automotive, Inc. | 1,803 | 92,981 | ||||||
Groupon, Inc. *(a) | 3,005 | 59,244 | ||||||
Guess?, Inc. | 5,419 | 187,768 | ||||||
Hibbett Sports, Inc. * | 2,404 | 117,676 | ||||||
HSN, Inc. | 3,606 | 133,999 | ||||||
J.C. Penney Co., Inc. | 10,818 | 428,393 | ||||||
Jos. A. Bank Clothiers, Inc. * | 2,404 | 123,782 | ||||||
Kohl’s Corp. | 17,429 | 865,873 | ||||||
Liberty Interactive Corp., Series A * | 39,065 | 732,859 | ||||||
Limited Brands, Inc. | 18,030 | 838,936 | ||||||
LKQ Corp. * | 9,616 | 306,366 | ||||||
Lowe’s Cos., Inc. | 84,741 | 2,404,950 | ||||||
Macy’s, Inc. | 28,247 | 1,072,539 | ||||||
Monro Muffler Brake, Inc. | 1,406 | 64,493 | ||||||
Netflix, Inc. * | 3,606 | 399,292 | ||||||
Nordstrom, Inc. | 11,419 | 612,287 | ||||||
O’Reilly Automotive, Inc. * | 9,015 | 779,797 | ||||||
Office Depot, Inc. * | 18,755 | 61,892 | ||||||
Penske Automotive Group, Inc. | 2,758 | 66,413 | ||||||
PetSmart, Inc. | 8,414 | 468,996 | ||||||
Pier 1 Imports, Inc. * | 7,212 | 123,830 | ||||||
Pool Corp. | 3,606 | 131,258 | ||||||
Priceline.com, Inc. * | 3,205 | 2,009,599 | ||||||
RadioShack Corp. (a) | 6,611 | 46,872 | ||||||
Rent-A-Center, Inc. | 5,409 | 191,587 | ||||||
Ross Stores, Inc. | 16,828 | 897,437 | ||||||
Saks, Inc. * | 10,217 | 119,028 | ||||||
Sally Beauty Holdings, Inc. * | 7,298 | 173,692 | ||||||
Sears Holdings Corp. *(a) | 3,606 | 251,194 | ||||||
Select Comfort Corp. * | 4,207 | 124,485 | ||||||
Shutterfly, Inc. * | 2,420 | 66,211 | ||||||
Signet Jewelers Ltd. | 5,409 | 253,682 | ||||||
Staples, Inc. | 45,075 | 660,800 | ||||||
Target Corp. | 40,868 | 2,316,807 | ||||||
The Buckle, Inc. (a) | 3,005 | 134,985 | ||||||
The Children’s Place Retail Stores, Inc. * | 2,404 | 122,003 | ||||||
The Finish Line, Inc., Class A | 2,462 | 56,601 | ||||||
The Gap, Inc. | 17,700 | 413,472 | ||||||
The Home Depot, Inc. | 101,569 | 4,831,637 | ||||||
The Men’s Wearhouse, Inc. | 3,606 | 139,660 | ||||||
The TJX Cos., Inc. | 50,484 | 1,848,219 | ||||||
Tiffany & Co. | 8,414 | 546,994 | ||||||
Tractor Supply Co. | 4,808 | 410,940 | ||||||
TripAdvisor, Inc. * | 6,879 | 221,710 | ||||||
Ulta Salon, Cosmetics & Fragrance, Inc. * | 3,606 | 300,163 | ||||||
Urban Outfitters, Inc. * | 9,015 | 255,936 | ||||||
Vitamin Shoppe, Inc. * | 1,266 | 53,716 | ||||||
Williams-Sonoma, Inc. | 6,611 | 255,185 | ||||||
39,591,899 | ||||||||
Semiconductors & Semiconductor Equipment 2.6% | ||||||||
Advanced Micro Devices, Inc. * | 42,070 | 309,214 | ||||||
Altera Corp. | 21,636 | 831,904 | ||||||
Analog Devices, Inc. | 19,833 | 777,652 | ||||||
Applied Materials, Inc. | 88,948 | 1,088,723 | ||||||
Atmel Corp. * | 30,050 | 303,805 | ||||||
ATMI, Inc. * | 2,404 | 52,960 | ||||||
Broadcom Corp., Class A * | 31,252 | 1,161,012 | ||||||
Brooks Automation, Inc. | 4,808 | 57,456 | ||||||
Cabot Microelectronics Corp. * | 1,803 | 90,601 | ||||||
Cavium Networks, Inc. * | 4,808 | 171,790 | ||||||
CEVA, Inc. * | 1,803 | 44,444 | ||||||
Cirrus Logic, Inc. * | 4,909 | 115,754 | ||||||
Cree, Inc. * | 8,424 | 255,163 | ||||||
Cymer, Inc. * | 2,404 | 110,536 | ||||||
Cypress Semiconductor Corp. * | 11,419 | 196,978 | ||||||
Diodes, Inc. * | 2,404 | 59,715 | ||||||
Entegris, Inc. * | 9,015 | 81,496 | ||||||
Fairchild Semiconductor International, Inc. * | 12,621 | 184,140 | ||||||
First Solar, Inc. *(a) | 4,207 | 135,886 | ||||||
GT Advanced Technologies, Inc. * | 8,414 | 72,024 | ||||||
Hittite Microwave Corp. * | 2,404 | 137,461 | ||||||
Integrated Device Technology, Inc. * | 16,227 | 112,128 | ||||||
Intel Corp. | 336,560 | 9,046,733 | ||||||
International Rectifier Corp. * | 4,808 | 107,940 | ||||||
Intersil Corp., Class A | 7,813 | 88,443 | ||||||
KLA-Tencor Corp. | 11,419 | 552,680 | ||||||
Kulicke & Soffa Industries, Inc. * | 5,409 | 60,905 | ||||||
Lam Research Corp. * | 8,414 | 350,864 |
See financial notes 25
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Lattice Semiconductor Corp. * | 7,813 | 51,488 | ||||||
Linear Technology Corp. | 14,424 | 482,915 | ||||||
LSI Corp. * | 42,671 | 366,971 | ||||||
Marvell Technology Group Ltd. * | 34,858 | 522,870 | ||||||
Maxim Integrated Products, Inc. | 20,434 | 569,904 | ||||||
MEMC Electronic Materials, Inc. * | 12,020 | 47,239 | ||||||
Microchip Technology, Inc. | 12,621 | 455,239 | ||||||
Micron Technology, Inc. * | 64,398 | 550,603 | ||||||
Microsemi Corp. * | 6,611 | 138,302 | ||||||
MKS Instruments, Inc. | 3,606 | 108,000 | ||||||
Novellus Systems, Inc. * | 6,010 | 279,345 | ||||||
NVIDIA Corp. * | 39,065 | 591,835 | ||||||
ON Semiconductor Corp. * | 28,848 | 261,651 | ||||||
PMC-Sierra, Inc. * | 14,424 | 99,093 | ||||||
Power Integrations, Inc. | 3,005 | 112,086 | ||||||
RF Micro Devices, Inc. * | 23,439 | 111,804 | ||||||
Semtech Corp. * | 4,808 | 138,038 | ||||||
Silicon Laboratories, Inc. * | 3,005 | 134,624 | ||||||
Skyworks Solutions, Inc. * | 12,621 | 340,388 | ||||||
Teradyne, Inc. * | 12,020 | 197,368 | ||||||
Tessera Technologies, Inc. * | 3,606 | 60,581 | ||||||
Texas Instruments, Inc. | 77,529 | 2,585,592 | ||||||
TriQuint Semiconductor, Inc. * | 10,818 | 69,668 | ||||||
Volterra Semiconductor Corp. * | 3,005 | 92,344 | ||||||
Xilinx, Inc. | 18,631 | 688,043 | ||||||
25,614,398 | ||||||||
Software & Services 9.3% | ||||||||
Accenture plc, Class A | 46,277 | 2,755,333 | ||||||
ACI Worldwide, Inc. * | 1,803 | 68,117 | ||||||
Activision Blizzard, Inc. | 27,646 | 330,370 | ||||||
Acxiom Corp. * | 6,010 | 84,380 | ||||||
Adobe Systems, Inc. * | 34,858 | 1,146,480 | ||||||
Advent Software, Inc. * | 2,404 | 61,855 | ||||||
Akamai Technologies, Inc. * | 12,020 | 432,720 | ||||||
Alliance Data Systems Corp. * | 3,606 | 437,624 | ||||||
ANSYS, Inc. * | 6,611 | 417,683 | ||||||
AOL, Inc. * | 6,669 | 119,775 | ||||||
Ariba, Inc. * | 6,611 | 208,048 | ||||||
Aspen Technology, Inc. * | 5,409 | 111,209 | ||||||
Autodesk, Inc. * | 15,025 | 568,696 | ||||||
Automatic Data Processing, Inc. | 33,055 | 1,795,548 | ||||||
Bankrate, Inc. * | 3,025 | 72,116 | ||||||
Blackbaud, Inc. | 4,207 | 132,731 | ||||||
BMC Software, Inc. * | 12,020 | 450,029 | ||||||
Bottomline Technologies, Inc. * | 3,005 | 84,441 | ||||||
Broadridge Financial Solutions, Inc. | 8,435 | 205,308 | ||||||
BroadSoft, Inc. *(a) | 1,803 | 65,575 | ||||||
CA, Inc. | 27,646 | 747,271 | ||||||
CACI International, Inc., Class A * | 1,803 | 106,629 | ||||||
Cadence Design Systems, Inc. * | 17,429 | 205,139 | ||||||
Cardtronics, Inc. * | 3,005 | 79,903 | ||||||
Citrix Systems, Inc. * | 12,621 | 943,294 | ||||||
Cognizant Technology Solutions Corp., Class A * | 20,434 | 1,449,792 | ||||||
CommVault Systems, Inc. * | 3,005 | 154,968 | ||||||
Computer Sciences Corp. | 10,217 | 324,492 | ||||||
Compuware Corp. * | 15,626 | 140,790 | ||||||
Concur Technologies, Inc. * | 3,005 | 177,145 | ||||||
Convergys Corp. * | 8,414 | 108,372 | ||||||
CoreLogic, Inc. * | 8,414 | 129,407 | ||||||
DealerTrack Holdings, Inc. * | 2,404 | 66,951 | ||||||
DST Systems, Inc. | 2,404 | 127,412 | ||||||
EarthLink, Inc. | 11,419 | 85,300 | ||||||
eBay, Inc. * | 72,721 | 2,599,049 | ||||||
Ebix, Inc. (a) | 1,803 | 42,010 | ||||||
Electronic Arts, Inc. * | 21,636 | 353,316 | ||||||
Equinix, Inc. * | 3,606 | 505,489 | ||||||
Euronet Worldwide, Inc. * | 3,606 | 69,560 | ||||||
FactSet Research Systems, Inc. | 3,005 | 262,637 | ||||||
Fair Isaac Corp. | 4,207 | 170,299 | ||||||
Fidelity National Information Services, Inc. | 16,828 | 533,952 | ||||||
Fiserv, Inc. * | 9,616 | 637,541 | ||||||
FleetCor Technologies, Inc. * | 2,404 | 89,020 | ||||||
Fortinet, Inc. * | 8,492 | 229,709 | ||||||
Gartner, Inc. * | 6,010 | 241,963 | ||||||
Genpact Ltd. * | 7,813 | 125,164 | ||||||
Global Payments, Inc. | 5,409 | 279,213 | ||||||
Google, Inc., Class A * | 16,414 | 10,147,956 | ||||||
Heartland Payment Systems, Inc. | 4,455 | 126,166 | ||||||
IAC/InterActiveCorp | 5,409 | 246,650 | ||||||
Informatica Corp. * | 6,611 | 324,997 | ||||||
International Business Machines Corp. | 77,565 | 15,259,362 | ||||||
Intuit, Inc. | 18,030 | 1,042,855 | ||||||
j2 Global, Inc. | 4,808 | 142,173 | ||||||
Jack Henry & Associates, Inc. | 6,010 | 202,777 | ||||||
JDA Software Group, Inc. * | 3,606 | 90,366 | ||||||
Lender Processing Services, Inc. | 6,010 | 132,460 | ||||||
LinkedIn Corp., Class A * | 1,202 | 104,418 | ||||||
Liquidity Services, Inc. * | 1,803 | 77,980 | ||||||
LogMeIn, Inc. * | 1,803 | 66,459 | ||||||
Manhattan Associates, Inc. * | 1,803 | 83,587 | ||||||
ManTech International Corp., Class A | 1,803 | 60,473 | ||||||
MasterCard, Inc., Class A | 6,711 | 2,818,620 | ||||||
MAXIMUS, Inc. | 3,606 | 150,406 | ||||||
Mentor Graphics Corp. * | 5,409 | 82,000 | ||||||
MICROS Systems, Inc., Class A * | 5,409 | 280,889 | ||||||
Microsoft Corp. | 492,820 | 15,642,107 | ||||||
MicroStrategy, Inc., Class A * | 1,202 | 162,979 | ||||||
Monster Worldwide, Inc. * | 9,075 | 62,981 | ||||||
NetSuite, Inc. * | 2,404 | 114,671 | ||||||
NeuStar, Inc., Class A * | 4,808 | 168,520 | ||||||
NIC, Inc. | 3,606 | 43,597 | ||||||
Nuance Communications, Inc. * | 14,424 | 373,870 | ||||||
OpenTable, Inc. *(a) | 1,202 | 58,297 | ||||||
Oracle Corp. | 255,425 | 7,476,290 | ||||||
Parametric Technology Corp. * | 7,212 | 192,560 | ||||||
Paychex, Inc. | 21,636 | 677,207 | ||||||
Pegasystems, Inc. (a) | 3,005 | 84,380 | ||||||
Progress Software Corp. * | 6,611 | 153,309 | ||||||
QLIK Technologies, Inc. * | 4,207 | 127,346 | ||||||
Quest Software, Inc. * | 5,409 | 108,288 | ||||||
Rackspace Hosting, Inc. * | 7,212 | 376,755 | ||||||
RealPage, Inc. * | 3,890 | 77,139 | ||||||
Red Hat, Inc. * | 12,621 | 624,235 | ||||||
Rovi Corp. * | 6,611 | 234,558 | ||||||
SAIC, Inc. * | 25,885 | 316,315 | ||||||
Salesforce.com, Inc. * | 8,038 | 1,150,720 | ||||||
Sapient Corp. | 12,020 | 150,130 | ||||||
Solarwinds, Inc. * | 3,005 | 111,966 | ||||||
Solera Holdings, Inc. | 4,207 | 201,936 |
26 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Sourcefire, Inc. * | 1,803 | 81,171 | ||||||
Symantec Corp. * | 52,888 | 943,522 | ||||||
Synchronoss Technologies, Inc. * | 2,404 | 80,438 | ||||||
Synopsys, Inc. * | 9,015 | 274,687 | ||||||
Syntel, Inc. | 2,404 | 123,085 | ||||||
Take-Two Interactive Software, Inc. * | 6,010 | 92,855 | ||||||
Taleo Corp., Class A * | 4,207 | 192,765 | ||||||
TeleTech Holdings, Inc. * | 5,409 | 82,595 | ||||||
Teradata Corp. * | 11,419 | 759,934 | ||||||
The Ultimate Software Group, Inc. * | 1,803 | 125,886 | ||||||
TIBCO Software, Inc. * | 12,020 | 348,219 | ||||||
TiVo, Inc. * | 9,015 | 101,419 | ||||||
Total System Services, Inc. | 13,222 | 289,297 | ||||||
Tyler Technologies, Inc. * | 2,404 | 90,799 | ||||||
Unisys Corp. * | 3,005 | 56,133 | ||||||
ValueClick, Inc. * | 5,409 | 112,507 | ||||||
VeriFone Systems, Inc. * | 7,212 | 345,383 | ||||||
VeriSign, Inc. | 10,818 | 399,725 | ||||||
VirnetX Holding Corp. *(a) | 4,207 | 90,829 | ||||||
Visa, Inc., Class A | 31,853 | 3,706,734 | ||||||
VistaPrint N.V. *(a) | 3,005 | 122,243 | ||||||
VMware, Inc., Class A * | 4,808 | 475,463 | ||||||
WebMD Health Corp. * | 3,606 | 89,609 | ||||||
Websense, Inc. * | 5,409 | 97,416 | ||||||
Western Union Co. | 40,868 | 713,964 | ||||||
Wright Express Corp. * | 3,005 | 185,949 | ||||||
Yahoo!, Inc. * | 81,802 | 1,213,124 | ||||||
Zynga, Inc. *(a) | 6,010 | 79,152 | ||||||
91,939,478 | ||||||||
Technology Hardware & Equipment 7.6% | ||||||||
3D Systems Corp. *(a) | 2,404 | 53,850 | ||||||
Acme Packet, Inc. * | 3,606 | 109,911 | ||||||
ADTRAN, Inc. | 4,207 | 148,297 | ||||||
Amphenol Corp., Class A | 11,419 | 639,007 | ||||||
Anixter International, Inc. * | 2,404 | 167,174 | ||||||
Apple, Inc. * | 61,076 | 33,130,065 | ||||||
Arris Group, Inc. * | 9,015 | 102,681 | ||||||
Arrow Electronics, Inc. * | 8,414 | 337,822 | ||||||
Aruba Networks, Inc. * | 6,611 | 142,732 | ||||||
Avnet, Inc. * | 10,217 | 365,156 | ||||||
AVX Corp. | 8,414 | 111,401 | ||||||
Benchmark Electronics, Inc. * | 6,010 | 98,684 | ||||||
Brightpoint, Inc. * | 4,808 | 42,310 | ||||||
Brocade Communications Systems, Inc. * | 27,045 | 156,320 | ||||||
Ciena Corp. * | 6,010 | 89,669 | ||||||
Cisco Systems, Inc. | 353,989 | 7,037,301 | ||||||
Cognex Corp. | 3,005 | 128,133 | ||||||
Coherent, Inc. * | 1,803 | 100,030 | ||||||
Comtech Telecommunications Corp. | 3,005 | 96,971 | ||||||
Comverse Technology, Inc. * | 12,020 | 77,168 | ||||||
Corning, Inc. | 103,973 | 1,355,808 | ||||||
Dell, Inc. * | 108,182 | 1,871,549 | ||||||
Diebold, Inc. | 4,207 | 164,620 | ||||||
Dolby Laboratories, Inc., Class A * | 3,606 | 137,280 | ||||||
EchoStar Corp., Class A * | 5,409 | 162,108 | ||||||
Electronics for Imaging, Inc. * | 3,005 | 47,960 | ||||||
EMC Corp. * | 134,624 | 3,727,739 | ||||||
Emulex Corp. * | 9,015 | 94,297 | ||||||
F5 Networks, Inc. * | 5,409 | 675,909 | ||||||
FARO Technologies, Inc. * | 1,803 | 99,994 | ||||||
FEI Co. * | 3,606 | 160,539 | ||||||
Finisar Corp. * | 6,010 | 121,943 | ||||||
FLIR Systems, Inc. | 10,217 | 267,379 | ||||||
Fusion-io, Inc. * | 2,404 | 65,629 | ||||||
Harris Corp. | 8,414 | 367,103 | ||||||
Hewlett-Packard Co. | 131,018 | 3,316,066 | ||||||
Infinera Corp. * | 12,020 | 95,679 | ||||||
Ingram Micro, Inc., Class A * | 10,217 | 195,451 | ||||||
Insight Enterprises, Inc. * | 3,005 | 62,805 | ||||||
InterDigital, Inc. | 3,005 | 113,739 | ||||||
Intermec, Inc. * | 7,212 | 53,946 | ||||||
IPG Photonics Corp. * | 3,005 | 158,153 | ||||||
Itron, Inc. * | 2,404 | 106,786 | ||||||
Jabil Circuit, Inc. | 13,222 | 341,524 | ||||||
JDS Uniphase Corp. * | 16,227 | 211,600 | ||||||
Juniper Networks, Inc. * | 35,459 | 807,047 | ||||||
Lexmark International, Inc., Class A | 4,808 | 177,319 | ||||||
Littelfuse, Inc. | 1,202 | 63,622 | ||||||
Loral Space & Communications, Inc. * | 1,202 | 85,630 | ||||||
Molex, Inc. | 9,616 | 260,594 | ||||||
Motorola Mobility Holdings, Inc. * | 19,833 | 787,370 | ||||||
Motorola Solutions, Inc. | 19,847 | 988,381 | ||||||
National Instruments Corp. | 6,611 | 175,853 | ||||||
NCR Corp. * | 10,217 | 221,913 | ||||||
NetApp, Inc. * | 24,641 | 1,059,563 | ||||||
NETGEAR, Inc. * | 2,404 | 90,318 | ||||||
OSI Systems, Inc. * | 1,803 | 106,377 | ||||||
Plantronics, Inc. | 3,606 | 134,504 | ||||||
Plexus Corp. * | 3,606 | 125,128 | ||||||
Polycom, Inc. * | 10,818 | 223,392 | ||||||
QLogic Corp. * | 8,414 | 144,637 | ||||||
QUALCOMM, Inc. | 110,584 | 6,876,113 | ||||||
Riverbed Technology, Inc. * | 9,616 | 273,768 | ||||||
Rofin-Sinar Technologies, Inc. * | 4,207 | 98,696 | ||||||
SanDisk Corp. * | 16,227 | 802,587 | ||||||
Sanmina-SCI Corp. * | 4,808 | 55,773 | ||||||
ScanSource, Inc. * | 3,606 | 133,422 | ||||||
Seagate Technology plc | 27,646 | 725,984 | ||||||
Sycamore Networks, Inc. * | 3,606 | 66,603 | ||||||
Synaptics, Inc. * | 2,404 | 88,347 | ||||||
SYNNEX Corp. * | 3,606 | 148,675 | ||||||
TE Connectivity Ltd. | 29,449 | 1,076,361 | ||||||
Tech Data Corp. * | 3,005 | 160,707 | ||||||
Tellabs, Inc. | 23,439 | 92,818 | ||||||
Trimble Navigation Ltd. * | 7,813 | 392,916 | ||||||
Universal Display Corp. * | 3,005 | 124,137 | ||||||
ViaSat, Inc. * | 3,005 | 138,621 | ||||||
Vishay Intertechnology, Inc. * | 14,424 | 176,838 | ||||||
Western Digital Corp. * | 15,025 | 589,731 | ||||||
Xerox Corp. | 91,953 | 756,773 | ||||||
Zebra Technologies Corp., Class A * | 3,606 | 138,615 | ||||||
75,479,421 | ||||||||
Telecommunication Services 2.5% | ||||||||
AboveNet, Inc. * | 1,803 | 125,417 | ||||||
AT&T, Inc. | 392,453 | 12,005,137 | ||||||
CenturyLink, Inc. | 40,868 | 1,644,937 | ||||||
Cincinnati Bell, Inc. * | 13,222 | 49,582 | ||||||
Cogent Communications Group, Inc. * | 3,005 | 55,352 |
See financial notes 27
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Consolidated Communications Holdings, Inc. | 1,803 | 34,203 | ||||||
Crown Castle International Corp. * | 16,227 | 840,721 | ||||||
Frontier Communications Corp. (a) | 65,509 | 300,686 | ||||||
Leap Wireless International, Inc. * | 7,212 | 75,293 | ||||||
Level 3 Communications, Inc. * | 10,818 | 262,986 | ||||||
MetroPCS Communications, Inc. * | 24,040 | 247,612 | ||||||
NII Holdings, Inc. * | 11,419 | 204,172 | ||||||
Premiere Global Services, Inc. * | 4,207 | 36,390 | ||||||
SBA Communications Corp., Class A * | 7,813 | 366,664 | ||||||
Sprint Nextel Corp. * | 198,330 | 489,875 | ||||||
Telephone & Data Systems, Inc. | 6,517 | 164,685 | ||||||
tw telecom, Inc. * | 10,217 | 220,687 | ||||||
United States Cellular Corp. * | 2,404 | 103,709 | ||||||
Verizon Communications, Inc. | 186,310 | 7,100,274 | ||||||
Windstream Corp. | 39,065 | 471,905 | ||||||
24,800,287 | ||||||||
Transportation 1.8% | ||||||||
Alaska Air Group, Inc. * | 2,404 | 164,842 | ||||||
Alexander & Baldwin, Inc. | 3,005 | 139,462 | ||||||
Allegiant Travel Co. * | 1,202 | 60,076 | ||||||
AMERCO | 601 | 62,588 | ||||||
Atlas Air Worldwide Holdings, Inc. * | 1,803 | 76,844 | ||||||
Avis Budget Group, Inc. * | 6,282 | 81,038 | ||||||
C.H. Robinson Worldwide, Inc. | 10,818 | 715,827 | ||||||
Con-way, Inc. | 3,005 | 88,798 | ||||||
CSX Corp. | 72,721 | 1,527,868 | ||||||
Delta Air Lines, Inc. * | 52,888 | 518,831 | ||||||
Dollar Thrifty Automotive Group, Inc. * | 1,803 | 136,866 | ||||||
Expeditors International of Washington, Inc. | 13,823 | 603,097 | ||||||
FedEx Corp. | 19,232 | 1,730,688 | ||||||
Forward Air Corp. | 2,404 | 80,943 | ||||||
Genesee & Wyoming, Inc., Class A * | 3,005 | 178,557 | ||||||
Hertz Global Holdings, Inc. * | 13,222 | 189,075 | ||||||
Hub Group, Inc., Class A * | 3,606 | 128,482 | ||||||
J.B. Hunt Transport Services, Inc. | 6,010 | 307,772 | ||||||
JetBlue Airways Corp. * | 18,631 | 95,018 | ||||||
Kansas City Southern * | 7,823 | 544,324 | ||||||
Kirby Corp. * | 3,606 | 247,444 | ||||||
Knight Transportation, Inc. | 3,005 | 51,476 | ||||||
Landstar System, Inc. | 3,606 | 194,940 | ||||||
Norfolk Southern Corp. | 22,838 | 1,573,538 | ||||||
Old Dominion Freight Line, Inc. * | 3,005 | 130,748 | ||||||
Ryder System, Inc. | 3,606 | 191,947 | ||||||
SkyWest, Inc. | 6,611 | 75,498 | ||||||
Southwest Airlines Co. | 49,282 | 442,552 | ||||||
Swift Transportation Co. * | 5,445 | 63,815 | ||||||
Union Pacific Corp. | 32,454 | 3,578,053 | ||||||
United Continental Holdings, Inc. * | 21,104 | 435,798 | ||||||
United Parcel Service, Inc., Class B | 45,676 | 3,512,028 | ||||||
US Airways Group, Inc. * | 9,015 | 66,801 | ||||||
UTI Worldwide, Inc. | 7,212 | 116,402 | ||||||
Werner Enterprises, Inc. | 4,808 | 116,450 | ||||||
Zipcar, Inc. *(a) | 3,606 | 46,914 | ||||||
18,275,400 | ||||||||
Utilities 3.5% | ||||||||
AGL Resources, Inc. | 7,309 | 291,410 | ||||||
ALLETE, Inc. | 3,005 | 124,948 | ||||||
Alliant Energy Corp. | 7,212 | 307,520 | ||||||
Ameren Corp. | 15,197 | 487,368 | ||||||
American Electric Power Co., Inc. | 31,252 | 1,175,388 | ||||||
American States Water Co. | 1,202 | 44,306 | ||||||
American Water Works Co., Inc. | 11,422 | 391,546 | ||||||
Aqua America, Inc. | 9,015 | 200,223 | ||||||
Atmos Energy Corp. | 6,010 | 184,687 | ||||||
Avista Corp. | 4,808 | 118,758 | ||||||
Black Hills Corp. | 2,428 | 79,735 | ||||||
California Water Service Group | 4,808 | 92,362 | ||||||
Calpine Corp. * | 24,641 | 377,254 | ||||||
CenterPoint Energy, Inc. | 25,843 | 503,680 | ||||||
Central Vermont Public Service Corp. | 1,202 | 42,358 | ||||||
CH Energy Group, Inc. | 2,404 | 160,275 | ||||||
Chesapeake Utilities Corp. | 601 | 24,683 | ||||||
Cleco Corp. | 3,606 | 138,759 | ||||||
CMS Energy Corp. | 16,227 | 347,420 | ||||||
Consolidated Edison, Inc. | 18,631 | 1,082,461 | ||||||
Constellation Energy Group, Inc. | 12,020 | 435,845 | ||||||
Dominion Resources, Inc. | 38,464 | 1,941,278 | ||||||
DTE Energy Co. | 10,818 | 584,064 | ||||||
Duke Energy Corp. | 87,145 | 1,823,073 | ||||||
Edison International | 19,232 | 805,244 | ||||||
El Paso Electric Co. | 3,005 | 98,354 | ||||||
Entergy Corp. | 12,621 | 840,937 | ||||||
Exelon Corp. | 43,873 | 1,714,118 | ||||||
FirstEnergy Corp. | 27,047 | 1,197,912 | ||||||
GenOn Energy, Inc. * | 51,188 | 125,922 | ||||||
Great Plains Energy, Inc. | 8,414 | 166,429 | ||||||
Hawaiian Electric Industries, Inc. | 6,010 | 150,550 | ||||||
IDACORP, Inc. | 3,606 | 145,971 | ||||||
Integrys Energy Group, Inc. | 4,808 | 250,160 | ||||||
ITC Holdings Corp. | 3,005 | 226,817 | ||||||
MDU Resources Group, Inc. | 10,818 | 234,751 | ||||||
MGE Energy, Inc. | 2,404 | 105,439 | ||||||
National Fuel Gas Co. | 4,808 | 241,987 | ||||||
New Jersey Resources Corp. | 3,005 | 140,303 | ||||||
NextEra Energy, Inc. | 27,646 | 1,645,213 | ||||||
NiSource, Inc. | 18,030 | 432,720 | ||||||
Northeast Utilities | 11,419 | 409,942 | ||||||
Northwest Natural Gas Co. | 2,404 | 110,031 | ||||||
NorthWestern Corp. | 2,404 | 83,491 | ||||||
NRG Energy, Inc. * | 17,429 | 298,036 | ||||||
NSTAR | 6,611 | 310,056 | ||||||
NV Energy, Inc. | 15,025 | 235,592 | ||||||
OGE Energy Corp. | 6,010 | 315,405 | ||||||
ONEOK, Inc. | 6,611 | 546,333 | ||||||
Otter Tail Corp. | 4,207 | 89,357 | ||||||
Pepco Holdings, Inc. | 14,424 | 280,403 | ||||||
PG&E Corp. | 25,843 | 1,077,136 | ||||||
Piedmont Natural Gas Co., Inc. | 4,207 | 136,307 | ||||||
Pinnacle West Capital Corp. | 6,611 | 310,915 | ||||||
PNM Resources, Inc. | 7,813 | 140,478 | ||||||
Portland General Electric Co. | 4,808 | 118,469 | ||||||
PPL Corp. | 38,464 | 1,098,147 | ||||||
Progress Energy, Inc. | 19,232 | 1,020,835 | ||||||
Public Service Enterprise Group, Inc. | 33,656 | 1,035,932 | ||||||
Questar Corp. | 10,818 | 207,922 |
28 See financial notes
Schwab U.S. Broad Market ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
SCANA Corp. | 7,212 | 324,540 | ||||||
Sempra Energy | 15,025 | 890,081 | ||||||
South Jersey Industries, Inc. | 2,404 | 125,008 | ||||||
Southwest Gas Corp. | 3,005 | 128,163 | ||||||
TECO Energy, Inc. | 12,621 | 226,547 | ||||||
The AES Corp. * | 51,843 | 702,991 | ||||||
The Empire District Electric Co. | 4,808 | 95,920 | ||||||
The Laclede Group, Inc. | 601 | 24,695 | ||||||
The Southern Co. | 56,157 | 2,481,578 | ||||||
UGI Corp. | 7,212 | 203,739 | ||||||
UIL Holdings Corp. | 2,404 | 84,741 | ||||||
Unisource Energy Corp. | 2,404 | 88,443 | ||||||
Vectren Corp. | 5,409 | 158,051 | ||||||
Westar Energy, Inc. | 7,212 | 198,474 | ||||||
WGL Holdings, Inc. | 3,606 | 147,233 | ||||||
Wisconsin Energy Corp. | 15,626 | 532,534 | ||||||
Xcel Energy, Inc. | 31,252 | 827,865 | ||||||
34,547,618 | ||||||||
Total Common Stock | ||||||||
(Cost $902,857,164) | 991,351,544 | |||||||
Rights 0.0% of net assets | ||||||||
Real Estate 0.0% | ||||||||
Rouse Properties, Inc. *(c)(d) | 936 | — | ||||||
Total Rights | ||||||||
(Cost $—) | — | |||||||
Other Investment Company 0.1% of net assets | ||||||||
Money Market Fund 0.1% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 329,682 | 329,682 | ||||||
Total Other Investment Company | ||||||||
(Cost $329,682) | 329,682 | |||||||
End of Investments | ||||||||
Collateral Invested for Securities on Loan 0.3% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 3,044,237 | 3,044,237 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $3,044,237) | 3,044,237 | |||||||
End of Collateral Invested for Securities on Loan |
At 2/29/12, the tax basis cost of the fund’s investments was $903,440,906 and the unrealized appreciation and depreciation were $116,511,067 and ($28,270,747), respectively, with a net unrealized appreciation of $88,240,320.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Issuer is affiliated with the fund’s adviser. | |
(c) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. | |
(d) | Illiquid security. At the period end, the value of these amounted to $0 or 0% of net assets. |
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $991,351,544 | $— | $— | $991,351,544 | ||||||||||||
Other Investment Company(a) | 329,682 | — | — | 329,682 | ||||||||||||
Rights(a) | — | — | — | — | ||||||||||||
Total | $991,681,226 | $— | $— | $991,681,226 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $3,044,237 | $— | $— | $3,044,237 |
(a) | As categorized in Portfolio Holdings. |
There were no significant transfers between Level 1, Level 2 and Level 3 for the period ended February 29, 2012.
See financial notes 29
Schwab U.S. Broad Market ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $902,047,971) including securities on loan of $3,171,235 | $990,725,449 | |||||
Investment in affiliated issuer, at value (cost $1,138,875) | $955,777 | |||||
Collateral invested for securities on loan | 3,044,237 | |||||
Receivables: | ||||||
Dividends | 2,055,972 | |||||
Fund shares sold | 1,661,098 | |||||
Income from securities on loan | 11,285 | |||||
Foreign tax reclaims | + | 1,058 | ||||
Total assets | 998,454,876 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 3,044,237 | |||||
Payables: | ||||||
Investments bought | 2,247,237 | |||||
Investment adviser fees | + | 4,891 | ||||
Total liabilities | 5,296,365 | |||||
Net Assets | ||||||
Total assets | 998,454,876 | |||||
Total liabilities | − | 5,296,365 | ||||
Net assets | $993,158,511 | |||||
Net Assets by Source | ||||||
Capital received from investors | 896,577,124 | |||||
Net investment income not yet distributed | 3,241,000 | |||||
Net realized capital gains | 4,734,157 | |||||
Net unrealized capital gains | 88,606,230 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$993,158,511 | 30,050,001 | $33.05 |
30 See financial notes
Schwab U.S. Broad Market ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (including $7,566 from affiliated issuer and net of foreign withholding tax of $15,820) | $8,645,654 | |||||
Interest | 281 | |||||
Securities on loan | + | 49,087 | ||||
Total investment income | 8,695,022 | |||||
Expenses | ||||||
Investment adviser fees | 238,519 | |||||
Total expenses | − | 238,519 | ||||
Net investment income | 8,456,503 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments (including $1,452 gains from affiliated issuer) | (3,113,892 | ) | ||||
Net realized gains on in-kind redemptions | + | 7,902,916 | ||||
Net realized gains | 4,789,024 | |||||
Net unrealized gains on investments (including $89,414 gains from affiliated issuer) | + | 95,004,899 | ||||
Net realized and unrealized gains | 99,793,923 | |||||
Net increase in net assets resulting from operations | $108,250,426 |
See financial notes 31
Schwab U.S. Broad Market ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $8,456,503 | $10,833,300 | ||||||||
Net realized gains | 4,789,024 | 18,489,482 | ||||||||
Net unrealized gains | + | 95,004,899 | 13,988,597 | |||||||
Net increase in net assets resulting from operations | 108,250,426 | 43,311,379 | ||||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($7,484,370 | ) | ($9,531,396 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 6,500,000 | $199,224,752 | 17,450,000 | $531,212,810 | ||||||||||||||
Shares Redeemed | + | (1,650,000 | ) | (49,483,204 | ) | (3,100,000 | ) | (94,832,267 | ) | |||||||||
Net transactions in fund shares | 4,850,000 | $149,741,548 | 14,350,000 | $436,380,543 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 25,200,001 | $742,650,907 | 10,850,001 | $272,490,381 | ||||||||||||||
Total increase | + | 4,850,000 | 250,507,604 | 14,350,000 | 470,160,526 | |||||||||||||
End of period | 30,050,001 | $993,158,511 | 25,200,001 | $742,650,907 | ||||||||||||||
Net investment income not yet distributed | $3,241,000 | $2,268,867 |
32 See financial notes
Schwab U.S. Large-Cap ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 10/30/091– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 29.11 | 24.98 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.31 | 0.53 | 0.34 | |||||||||||
Net realized and unrealized gains (losses) | 3.51 | 4.13 | (0.12 | ) | ||||||||||
Total from investment operations | 3.82 | 4.66 | 0.22 | |||||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.30 | ) | (0.53 | ) | (0.24 | ) | ||||||||
Net asset value at end of period | 32.63 | 29.11 | 24.98 | |||||||||||
Total return (%) | 13.27 | 2 | 18.66 | 0.83 | 2 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.08 | 3 | 0.08 | 0.08 | 3 | |||||||||
Gross operating expenses | 0.08 | 3 | 0.08 | 0.08 | 3 | |||||||||
Net investment income (loss) | 2.18 | 3 | 1.88 | 2.01 | 3 | |||||||||
Portfolio turnover rate4 | 2 | 2 | 5 | 3 | 2 | |||||||||
Net assets, end of period ($ x 1,000) | 823,886 | 615,781 | 273,503 |
* Unaudited.
1 Commencement of operations.
2 Not annualized.
3 Annualized.
4 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes 33
Schwab U.S. Large-Cap ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .7% | Common Stock | 739,869,723 | 821,597,626 | ||||||||
0 | .0% | Rights | — | — | ||||||||
0 | .1% | Other Investment Company | 448,033 | 448,033 | ||||||||
99 | .8% | Total Investments | 740,317,756 | 822,045,659 | ||||||||
0 | .1% | Collateral Invested for Securities on Loan | 1,018,292 | 1,018,292 | ||||||||
0 | .1% | Other Assets and Liabilities, Net | 821,682 | |||||||||
100 | .0% | Net Assets | 823,885,633 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.7% of net assets | ||||||||
Automobiles & Components 0.9% | ||||||||
BorgWarner, Inc. * | 6,622 | 548,566 | ||||||
Ford Motor Co. | 232,128 | 2,873,745 | ||||||
General Motors Co. * | 34,942 | 909,191 | ||||||
Gentex Corp. | 8,716 | 206,133 | ||||||
Harley-Davidson, Inc. | 14,201 | 661,483 | ||||||
Johnson Controls, Inc. | 41,538 | 1,355,385 | ||||||
Lear Corp. | 6,565 | 296,804 | ||||||
The Goodyear Tire & Rubber Co. * | 14,665 | 188,592 | ||||||
TRW Automotive Holdings Corp. * | 6,108 | 279,380 | ||||||
Visteon Corp. * | 3,048 | 163,738 | ||||||
7,483,017 | ||||||||
Banks 2.7% | ||||||||
BB&T Corp. | 42,459 | 1,241,926 | ||||||
BOK Financial Corp. | 1,541 | 82,721 | ||||||
CIT Group, Inc. * | 12,218 | 497,395 | ||||||
City National Corp. | 3,032 | 142,504 | ||||||
Comerica, Inc. | 12,120 | 359,843 | ||||||
Commerce Bancshares, Inc. | 4,799 | 185,289 | ||||||
Cullen/Frost Bankers, Inc. | 3,535 | 199,657 | ||||||
Fifth Third Bancorp | 56,003 | 762,201 | ||||||
First Republic Bank * | 4,691 | 140,683 | ||||||
Hudson City Bancorp, Inc. | 30,346 | 207,870 | ||||||
Huntington Bancshares, Inc. | 51,757 | 302,519 | ||||||
KeyCorp | 57,571 | 466,325 | ||||||
M&T Bank Corp. | 7,576 | 618,353 | ||||||
New York Community Bancorp, Inc. | 26,887 | 349,800 | ||||||
People’s United Financial, Inc. | 22,632 | 284,937 | ||||||
PNC Financial Services Group, Inc. | 32,133 | 1,912,556 | ||||||
Regions Financial Corp. | 75,770 | 436,435 | ||||||
SunTrust Banks, Inc. | 32,408 | 744,088 | ||||||
TFS Financial Corp. * | 5,360 | 50,116 | ||||||
U.S. Bancorp | 116,850 | 3,435,390 | ||||||
Wells Fargo & Co. | 305,525 | 9,559,877 | ||||||
Zions Bancorp | 11,615 | 220,685 | ||||||
22,201,170 | ||||||||
Capital Goods 8.0% | ||||||||
3M Co. | 39,390 | 3,450,564 | ||||||
Aecom Technology Corp. * | 6,106 | 142,575 | ||||||
AGCO Corp. * | 5,876 | 303,378 | ||||||
AMETEK, Inc. | 9,732 | 463,243 | ||||||
Caterpillar, Inc. | 35,855 | 4,095,000 | ||||||
Cooper Industries plc | 10,104 | 618,567 | ||||||
Cummins, Inc. | 10,692 | 1,289,134 | ||||||
Danaher Corp. | 34,752 | 1,835,948 | ||||||
Deere & Co. | 25,296 | 2,097,797 | ||||||
Donaldson Co., Inc. | 4,199 | 308,333 | ||||||
Dover Corp. | 11,192 | 716,512 | ||||||
Eaton Corp. | 20,412 | 1,065,302 | ||||||
Emerson Electric Co. | 45,450 | 2,286,589 | ||||||
Exelis, Inc. | 11,218 | 117,901 | ||||||
Fastenal Co. | 18,001 | 948,293 | ||||||
Flowserve Corp. | 3,540 | 419,738 | ||||||
Fluor Corp. | 10,605 | 641,390 | ||||||
Fortune Brands Home & Security, Inc. * | 9,203 | 177,986 | ||||||
Foster Wheeler AG * | 7,146 | 176,006 | ||||||
Gardner Denver, Inc. | 3,043 | 208,993 | ||||||
General Dynamics Corp. | 18,301 | 1,340,182 | ||||||
General Electric Co. | 646,905 | 12,323,540 | ||||||
Goodrich Corp. | 7,575 | 954,223 | ||||||
Honeywell International, Inc. | 43,601 | 2,597,312 | ||||||
Hubbell, Inc., Class B | 3,535 | 265,903 | ||||||
Illinois Tool Works, Inc. | 25,361 | 1,412,354 | ||||||
Ingersoll-Rand plc | 19,056 | 759,953 | ||||||
ITT Corp. | 5,609 | 139,945 | ||||||
Jacobs Engineering Group, Inc. * | 7,579 | 350,301 | ||||||
Joy Global, Inc. | 6,565 | 570,892 | ||||||
KBR, Inc. | 9,090 | 330,149 | ||||||
L-3 Communications Holdings, Inc. | 6,566 | 461,261 | ||||||
Lincoln Electric Holdings, Inc. | 5,050 | 233,259 | ||||||
Lockheed Martin Corp. | 15,737 | 1,391,308 | ||||||
Masco Corp. | 22,228 | 264,069 | ||||||
MSC Industrial Direct Co., Class A | 2,620 | 208,054 | ||||||
Navistar International Corp. * | 4,546 | 189,932 | ||||||
Northrop Grumman Corp. | 14,861 | 888,836 | ||||||
Owens Corning, Inc. * | 7,070 | 223,766 | ||||||
PACCAR, Inc. | 22,222 | 1,022,434 | ||||||
Pall Corp. | 7,070 | 448,591 | ||||||
Parker Hannifin Corp. | 9,234 | 829,306 | ||||||
Pentair, Inc. | 6,107 | 235,119 | ||||||
Precision Castparts Corp. | 9,090 | 1,521,939 | ||||||
Quanta Services, Inc. * | 12,672 | 264,845 | ||||||
Raytheon Co. | 21,126 | 1,067,286 | ||||||
Rockwell Automation, Inc. | 9,083 | 726,458 | ||||||
Rockwell Collins, Inc. | 9,680 | 573,927 | ||||||
Roper Industries, Inc. | 6,060 | 554,611 | ||||||
Spirit AeroSystems Holdings, Inc., Class A * | 7,071 | 169,421 | ||||||
SPX Corp. | 3,034 | 221,907 |
34 See financial notes
Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Stanley Black & Decker, Inc. | 10,127 | 777,754 | ||||||
Textron, Inc. | 16,668 | 458,537 | ||||||
The Babcock & Wilcox Co. * | 7,072 | 182,033 | ||||||
The Boeing Co. | 40,898 | 3,065,305 | ||||||
The Timken Co. | 4,601 | 241,092 | ||||||
TransDigm Group, Inc. * | 3,030 | 359,934 | ||||||
Tyco International Ltd. | 28,785 | 1,491,639 | ||||||
United Technologies Corp. | 48,480 | 4,066,018 | ||||||
URS Corp. * | 5,050 | 220,433 | ||||||
W.W. Grainger, Inc. | 3,600 | 747,828 | ||||||
Xylem, Inc. | 11,218 | 291,444 | ||||||
65,806,349 | ||||||||
Commercial & Professional Services 0.7% | ||||||||
Avery Dennison Corp. | 6,184 | 188,612 | ||||||
Cintas Corp. | 6,849 | 264,098 | ||||||
Copart, Inc. * | 3,694 | 183,887 | ||||||
Corrections Corp. of America * | 6,080 | 152,365 | ||||||
Covanta Holding Corp. | 7,080 | 115,616 | ||||||
Equifax, Inc. | 7,292 | 306,556 | ||||||
IHS, Inc., Class A * | 3,030 | 286,547 | ||||||
Iron Mountain, Inc. | 10,339 | 321,026 | ||||||
Manpower, Inc. | 5,052 | 217,590 | ||||||
Nielsen Holdings N.V. * | 4,056 | 119,611 | ||||||
Pitney Bowes, Inc. | 10,925 | 198,070 | ||||||
R.R. Donnelley & Sons Co. (a) | 10,735 | 148,358 | ||||||
Republic Services, Inc. | 18,805 | 560,953 | ||||||
Robert Half International, Inc. | 9,156 | 260,305 | ||||||
Stericycle, Inc. * | 5,555 | 482,007 | ||||||
The Dun & Bradstreet Corp. | 3,034 | 250,760 | ||||||
Towers Watson & Co., Class A | 3,079 | 196,871 | ||||||
Verisk Analytics, Inc., Class A * | 8,378 | 364,443 | ||||||
Waste Connections, Inc. | 6,767 | 220,063 | ||||||
Waste Management, Inc. | 24,463 | 855,716 | ||||||
5,693,454 | ||||||||
Consumer Durables & Apparel 1.2% | ||||||||
Coach, Inc. | 17,696 | 1,324,369 | ||||||
D.R. Horton, Inc. | 16,665 | 238,976 | ||||||
Fossil, Inc. * | 3,253 | 396,801 | ||||||
Garmin Ltd. | 7,505 | 354,161 | ||||||
Harman International Industries, Inc. | 4,190 | 205,855 | ||||||
Hasbro, Inc. | 7,604 | 268,573 | ||||||
Leggett & Platt, Inc. | 9,094 | 205,797 | ||||||
Lennar Corp., Class A | 9,595 | 224,331 | ||||||
Mattel, Inc. | 20,987 | 680,818 | ||||||
Michael Kors Holdings Ltd. * | 3,030 | 131,047 | ||||||
Mohawk Industries, Inc. * | 3,535 | 224,508 | ||||||
Newell Rubbermaid, Inc. | 17,277 | 316,169 | ||||||
NIKE, Inc., Class B | 23,230 | 2,506,982 | ||||||
NVR, Inc. * | 285 | 197,220 | ||||||
PVH Corp. | 3,756 | 319,298 | ||||||
Ralph Lauren Corp. | 4,040 | 701,869 | ||||||
Tempur-Pedic International, Inc. * | 4,040 | 319,160 | ||||||
Toll Brothers, Inc. * | 8,966 | 210,342 | ||||||
Tupperware Brands Corp. | 3,694 | 231,577 | ||||||
VF Corp. | 5,555 | 811,308 | ||||||
Whirlpool Corp. | 4,581 | 346,186 | ||||||
10,215,347 | ||||||||
Consumer Services 2.2% | ||||||||
Apollo Group, Inc., Class A * | 7,125 | 303,810 | ||||||
Carnival Corp. | 24,486 | 741,681 | ||||||
Chipotle Mexican Grill, Inc. * | 2,020 | 788,244 | ||||||
Darden Restaurants, Inc. | 8,027 | 409,297 | ||||||
DeVry, Inc. | 3,637 | 129,223 | ||||||
Dunkin’ Brands Group, Inc. * | 3,030 | 87,991 | ||||||
H&R Block, Inc. | 18,376 | 299,529 | ||||||
Hyatt Hotels Corp., Class A * | 2,525 | 104,560 | ||||||
International Game Technology | 18,180 | 273,064 | ||||||
Las Vegas Sands Corp. * | 23,955 | 1,332,137 | ||||||
Marriott International, Inc., Class A | 18,321 | 646,365 | ||||||
Marriott Vacations Worldwide Corp. * | 1,812 | 45,173 | ||||||
McDonald’s Corp. | 63,623 | 6,316,491 | ||||||
MGM Resorts International * | 19,237 | 264,893 | ||||||
Penn National Gaming, Inc. * | 4,225 | 179,774 | ||||||
Royal Caribbean Cruises Ltd. | 8,084 | 230,313 | ||||||
Starbucks Corp. | 45,955 | 2,231,575 | ||||||
Starwood Hotels & Resorts Worldwide, Inc. | 11,769 | 634,349 | ||||||
Weight Watchers International, Inc. (a) | 2,020 | 157,520 | ||||||
Wyndham Worldwide Corp. | 9,727 | 427,891 | ||||||
Wynn Resorts Ltd. | 5,555 | 658,490 | ||||||
Yum! Brands, Inc. | 28,451 | 1,884,594 | ||||||
18,146,964 | ||||||||
Diversified Financials 5.5% | ||||||||
Affiliated Managers Group, Inc. * | 3,089 | 328,639 | ||||||
American Express Co. | 63,622 | 3,364,968 | ||||||
Ameriprise Financial, Inc. | 13,817 | 770,436 | ||||||
Bank of America Corp. | 616,396 | 4,912,676 | ||||||
BlackRock, Inc. | 6,565 | 1,306,435 | ||||||
Capital One Financial Corp. | 27,882 | 1,410,829 | ||||||
CBOE Holdings, Inc. | 5,322 | 146,727 | ||||||
Citigroup, Inc. | 178,256 | 5,939,490 | ||||||
CME Group, Inc. | 4,040 | 1,169,540 | ||||||
Discover Financial Services | 33,214 | 996,752 | ||||||
E*TRADE Financial Corp. * | 15,365 | 147,965 | ||||||
Eaton Vance Corp. | 7,070 | 203,687 | ||||||
Franklin Resources, Inc. | 9,091 | 1,071,738 | ||||||
IntercontinentalExchange, Inc. * | 4,545 | 627,028 | ||||||
Invesco Ltd. | 27,540 | 682,166 | ||||||
Jefferies Group, Inc. | 8,602 | 143,825 | ||||||
JPMorgan Chase & Co. | 233,301 | 9,154,731 | ||||||
Legg Mason, Inc. | 8,605 | 235,691 | ||||||
Leucadia National Corp. | 12,120 | 345,299 | ||||||
LPL Investment Holdings, Inc. * | 2,317 | 79,010 | ||||||
Moody’s Corp. | 11,637 | 449,305 | ||||||
Morgan Stanley | 81,306 | 1,507,413 | ||||||
MSCI, Inc., Class A * | 7,098 | 251,127 | ||||||
Northern Trust Corp. | 13,163 | 584,569 | ||||||
NYSE Euronext | 15,702 | 467,448 | ||||||
Raymond James Financial, Inc. | 6,107 | 216,005 | ||||||
SEI Investments Co. | 9,642 | 190,429 | ||||||
SLM Corp. | 31,903 | 502,791 | ||||||
State Street Corp. | 30,347 | 1,281,554 | ||||||
T. Rowe Price Group, Inc. | 15,423 | 949,903 | ||||||
TD Ameritrade Holding Corp. | 14,692 | 274,300 | ||||||
The Bank of New York Mellon Corp. | 75,814 | 1,676,247 | ||||||
The Charles Schwab Corp. (b) | 62,620 | 869,166 |
See financial notes 35
Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
The Goldman Sachs Group, Inc. | 26,260 | 3,023,576 | ||||||
The NASDAQ OMX Group, Inc. * | 8,155 | 214,803 | ||||||
45,496,268 | ||||||||
Energy 11.8% | ||||||||
Alpha Natural Resources, Inc. * | 13,635 | 253,066 | ||||||
Anadarko Petroleum Corp. | 30,805 | 2,591,317 | ||||||
Apache Corp. | 23,390 | 2,524,483 | ||||||
Arch Coal, Inc. | 12,724 | 172,665 | ||||||
Baker Hughes, Inc. | 26,529 | 1,333,878 | ||||||
Cabot Oil & Gas Corp. | 12,684 | 442,418 | ||||||
Cameron International Corp. * | 14,712 | 819,605 | ||||||
Chesapeake Energy Corp. | 39,907 | 997,675 | ||||||
Chevron Corp. | 123,213 | 13,445,002 | ||||||
Cimarex Energy Co. | 5,116 | 412,708 | ||||||
Cobalt International Energy, Inc. * | 9,116 | 274,027 | ||||||
Concho Resources, Inc. * | 6,565 | 701,405 | ||||||
ConocoPhillips | 76,247 | 5,836,708 | ||||||
CONSOL Energy, Inc. | 13,724 | 491,594 | ||||||
Continental Resources, Inc. * | 3,535 | 320,554 | ||||||
Denbury Resources, Inc. * | 24,339 | 484,589 | ||||||
Devon Energy Corp. | 24,002 | 1,759,587 | ||||||
Diamond Offshore Drilling, Inc. | 4,040 | 276,619 | ||||||
El Paso Corp. | 46,767 | 1,300,590 | ||||||
Energen Corp. | 4,545 | 241,930 | ||||||
EOG Resources, Inc. | 16,665 | 1,897,477 | ||||||
EQT Corp. | 9,090 | 481,952 | ||||||
EXCO Resources, Inc. (a) | 10,609 | 75,642 | ||||||
Exxon Mobil Corp. | 294,408 | 25,466,292 | ||||||
FMC Technologies, Inc. * | 14,645 | 738,547 | ||||||
Forest Oil Corp. * | 6,688 | 86,476 | ||||||
Halliburton Co. | 56,200 | 2,056,358 | ||||||
Helmerich & Payne, Inc. | 6,060 | 371,478 | ||||||
Hess Corp. | 18,685 | 1,213,030 | ||||||
HollyFrontier Corp. | 11,830 | 386,013 | ||||||
Kinder Morgan, Inc. (a) | 6,084 | 214,400 | ||||||
Marathon Oil Corp. | 43,384 | 1,470,284 | ||||||
Marathon Petroleum Corp. | 21,715 | 902,258 | ||||||
McDermott International, Inc. * | 14,144 | 184,721 | ||||||
Murphy Oil Corp. | 11,809 | 755,067 | ||||||
Nabors Industries Ltd. * | 17,679 | 385,049 | ||||||
National-Oilwell Varco, Inc. | 26,253 | 2,166,660 | ||||||
Newfield Exploration Co. * | 8,084 | 291,024 | ||||||
Noble Corp. * | 15,659 | 629,179 | ||||||
Noble Energy, Inc. | 10,764 | 1,051,105 | ||||||
Occidental Petroleum Corp. | 49,988 | 5,217,247 | ||||||
Oceaneering International, Inc. | 6,566 | 356,337 | ||||||
Patterson-UTI Energy, Inc. | 9,595 | 186,335 | ||||||
Peabody Energy Corp. | 16,517 | 576,113 | ||||||
Pioneer Natural Resources Co. | 7,575 | 830,523 | ||||||
Plains Exploration & Production Co. * | 8,632 | 380,412 | ||||||
QEP Resources, Inc. | 10,706 | 365,503 | ||||||
Range Resources Corp. | 9,698 | 617,569 | ||||||
Rowan Cos., Inc. * | 7,627 | 281,207 | ||||||
SandRidge Energy, Inc. * | 22,016 | 190,879 | ||||||
Schlumberger Ltd. | 82,813 | 6,427,117 | ||||||
SM Energy Co. | 4,040 | 318,029 | ||||||
Southern Union Co. | 7,097 | 311,842 | ||||||
Southwestern Energy Co. * | 21,218 | 701,467 | ||||||
Spectra Energy Corp. | 39,567 | 1,241,612 | ||||||
Sunoco, Inc. | 6,496 | 250,940 | ||||||
The Williams Cos., Inc. | 35,712 | 1,067,074 | ||||||
Tidewater, Inc. | 3,099 | 184,390 | ||||||
Ultra Petroleum Corp. * | 9,191 | 229,407 | ||||||
Valero Energy Corp. | 34,386 | 842,113 | ||||||
Weatherford International Ltd. * | 45,021 | 719,436 | ||||||
Whiting Petroleum Corp. * | 7,070 | 414,585 | ||||||
WPX Energy, Inc. * | 11,894 | 215,995 | ||||||
97,429,564 | ||||||||
Food & Staples Retailing 2.1% | ||||||||
Costco Wholesale Corp. | 26,473 | 2,278,266 | ||||||
CVS Caremark Corp. | 82,315 | 3,712,407 | ||||||
Safeway, Inc. | 20,717 | 444,380 | ||||||
Sysco Corp. | 35,982 | 1,058,590 | ||||||
The Kroger Co. | 34,071 | 810,549 | ||||||
Wal-Mart Stores, Inc. | 108,575 | 6,414,611 | ||||||
Walgreen Co. | 53,648 | 1,778,968 | ||||||
Whole Foods Market, Inc. | 9,596 | 774,781 | ||||||
17,272,552 | ||||||||
Food, Beverage & Tobacco 5.8% | ||||||||
Altria Group, Inc. | 127,282 | 3,831,188 | ||||||
Archer-Daniels-Midland Co. | 37,199 | 1,160,609 | ||||||
Beam, Inc. | 9,203 | 506,901 | ||||||
Brown-Forman Corp., Class B | 6,649 | 542,891 | ||||||
Bunge Ltd. | 8,973 | 604,062 | ||||||
Campbell Soup Co. | 12,121 | 403,872 | ||||||
Coca-Cola Enterprises, Inc. | 19,047 | 550,458 | ||||||
ConAgra Foods, Inc. | 25,335 | 665,044 | ||||||
Constellation Brands, Inc., Class A * | 11,289 | 246,552 | ||||||
Corn Products International, Inc. | 4,626 | 265,301 | ||||||
Dr. Pepper Snapple Group, Inc. | 13,352 | 508,044 | ||||||
General Mills, Inc. | 37,044 | 1,419,156 | ||||||
Green Mountain Coffee Roasters, Inc. * | 7,173 | 466,030 | ||||||
H.J. Heinz Co. | 19,695 | 1,038,123 | ||||||
Hormel Foods Corp. | 8,806 | 250,707 | ||||||
Kellogg Co. | 15,154 | 793,312 | ||||||
Kraft Foods, Inc., Class A | 100,072 | 3,809,741 | ||||||
Lorillard, Inc. | 8,241 | 1,080,230 | ||||||
McCormick & Co., Inc. | 8,080 | 407,636 | ||||||
Mead Johnson Nutrition Co. | 12,625 | 981,594 | ||||||
Molson Coors Brewing Co., Class B | 9,595 | 421,604 | ||||||
Monster Beverage Corp. * | 9,090 | 519,857 | ||||||
PepsiCo, Inc. | 96,447 | 6,070,374 | ||||||
Philip Morris International, Inc. | 108,070 | 9,026,006 | ||||||
Post Holdings, Inc. * | 1,760 | 54,806 | ||||||
Ralcorp Holdings, Inc. * | 3,535 | 263,711 | ||||||
Reynolds American, Inc. | 20,636 | 865,268 | ||||||
Sara Lee Corp. | 35,737 | 723,674 | ||||||
Smithfield Foods, Inc. * | 9,136 | 214,056 | ||||||
The Coca-Cola Co. | 128,263 | 8,960,453 | ||||||
The Hershey Co. | 9,618 | 583,813 | ||||||
The J.M. Smucker Co. | 7,161 | 539,367 | ||||||
Tyson Foods, Inc., Class A | 17,443 | 329,847 | ||||||
48,104,287 | ||||||||
Health Care Equipment & Services 3.9% | ||||||||
Aetna, Inc. | 22,117 | 1,034,191 |
36 See financial notes
Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
AmerisourceBergen Corp. | 16,277 | 607,946 | ||||||
Baxter International, Inc. | 35,057 | 2,037,863 | ||||||
Becton, Dickinson & Co. | 12,625 | 962,278 | ||||||
Boston Scientific Corp. * | 92,484 | 575,250 | ||||||
C.R. Bard, Inc. | 5,269 | 493,284 | ||||||
Cardinal Health, Inc. | 21,210 | 881,276 | ||||||
CareFusion Corp. * | 13,279 | 342,731 | ||||||
Cerner Corp. * | 8,641 | 637,965 | ||||||
CIGNA Corp. | 17,431 | 768,881 | ||||||
Coventry Health Care, Inc. * | 9,094 | 297,283 | ||||||
Covidien plc | 30,156 | 1,575,651 | ||||||
DaVita, Inc. * | 5,649 | 488,921 | ||||||
DENTSPLY International, Inc. | 8,635 | 334,002 | ||||||
Edwards Lifesciences Corp. * | 7,070 | 517,029 | ||||||
Express Scripts, Inc. * | 27,775 | 1,481,241 | ||||||
Gen-Probe, Inc. * | 3,030 | 206,888 | ||||||
HCA Holdings, Inc. | 10,138 | 270,380 | ||||||
Henry Schein, Inc. * | 5,555 | 411,181 | ||||||
Hologic, Inc. * | 15,702 | 325,502 | ||||||
Humana, Inc. | 10,116 | 881,104 | ||||||
IDEXX Laboratories, Inc. * | 3,535 | 303,126 | ||||||
Intuitive Surgical, Inc. * | 2,525 | 1,291,840 | ||||||
Laboratory Corp. of America Holdings * | 6,093 | 547,700 | ||||||
McKesson Corp. | 15,150 | 1,265,177 | ||||||
Medco Health Solutions, Inc. * | 23,545 | 1,591,407 | ||||||
Medtronic, Inc. | 64,835 | 2,471,510 | ||||||
Omnicare, Inc. | 7,117 | 250,376 | ||||||
Patterson Cos., Inc. | 6,224 | 198,670 | ||||||
Quest Diagnostics, Inc. | 9,602 | 557,396 | ||||||
ResMed, Inc. * | 9,244 | 270,849 | ||||||
St. Jude Medical, Inc. | 19,757 | 832,165 | ||||||
Stryker Corp. | 18,180 | 975,175 | ||||||
UnitedHealth Group, Inc. | 65,769 | 3,666,622 | ||||||
Universal Health Services, Inc., Class B | 5,559 | 247,987 | ||||||
Varian Medical Systems, Inc. * | 7,157 | 466,994 | ||||||
WellPoint, Inc. | 21,258 | 1,395,163 | ||||||
Zimmer Holdings, Inc. * | 11,624 | 706,158 | ||||||
32,169,162 | ||||||||
Household & Personal Products 2.3% | ||||||||
Avon Products, Inc. | 25,882 | 483,735 | ||||||
Church & Dwight Co., Inc. | 8,724 | 416,484 | ||||||
Colgate-Palmolive Co. | 27,351 | 2,548,566 | ||||||
Energizer Holdings, Inc. * | 4,130 | 315,739 | ||||||
Herbalife Ltd. | 7,182 | 475,520 | ||||||
Kimberly-Clark Corp. | 23,997 | 1,748,901 | ||||||
The Clorox Co. | 8,081 | 546,356 | ||||||
The Estee Lauder Cos., Inc., Class A | 14,196 | 831,034 | ||||||
The Procter & Gamble Co. | 168,670 | 11,388,598 | ||||||
18,754,933 | ||||||||
Insurance 3.8% | ||||||||
ACE Ltd. | 20,707 | 1,484,899 | ||||||
Aflac, Inc. | 28,803 | 1,360,942 | ||||||
Alleghany Corp. *(a) | 511 | 165,891 | ||||||
Allied World Assurance Co. Holdings AG | 2,525 | 166,574 | ||||||
American Financial Group, Inc. | 5,082 | 190,321 | ||||||
American International Group, Inc. * | 26,765 | 782,073 | ||||||
Aon Corp. | 19,952 | 933,953 | ||||||
Arch Capital Group Ltd. * | 8,080 | 299,364 | ||||||
Assurant, Inc. | 5,586 | 237,237 | ||||||
Assured Guaranty Ltd. | 10,176 | 170,957 | ||||||
Axis Capital Holdings Ltd. | 7,663 | 236,404 | ||||||
Berkshire Hathaway, Inc., Class B * | 117,160 | 9,191,202 | ||||||
Brown & Brown, Inc. | 7,117 | 168,175 | ||||||
Cincinnati Financial Corp. | 9,137 | 321,348 | ||||||
CNA Financial Corp. | 1,560 | 44,008 | ||||||
Erie Indemnity Co., Class A | 1,592 | 121,167 | ||||||
Everest Re Group Ltd. | 2,712 | 238,249 | ||||||
Fidelity National Financial, Inc., Class A | 14,187 | 244,868 | ||||||
Genworth Financial, Inc., Class A * | 29,807 | 270,946 | ||||||
Hartford Financial Services Group, Inc. | 26,951 | 558,155 | ||||||
HCC Insurance Holdings, Inc. | 7,088 | 216,467 | ||||||
Lincoln National Corp. | 18,715 | 464,881 | ||||||
Loews Corp. | 21,285 | 833,095 | ||||||
Markel Corp. * | 609 | 248,442 | ||||||
Marsh & McLennan Cos., Inc. | 33,090 | 1,032,408 | ||||||
MetLife, Inc. | 50,500 | 1,946,775 | ||||||
Old Republic International Corp. | 14,695 | 159,588 | ||||||
PartnerRe Ltd. | 4,040 | 256,298 | ||||||
Principal Financial Group, Inc. | 18,015 | 498,295 | ||||||
Prudential Financial, Inc. | 29,643 | 1,812,966 | ||||||
Reinsurance Group of America, Inc. | 4,545 | 262,110 | ||||||
RenaissanceRe Holdings Ltd. | 3,115 | 224,155 | ||||||
The Allstate Corp. | 29,424 | 924,796 | ||||||
The Chubb Corp. | 17,170 | 1,166,873 | ||||||
The Progressive Corp. | 36,393 | 779,538 | ||||||
The Travelers Cos., Inc. | 25,338 | 1,468,844 | ||||||
Torchmark Corp. | 6,355 | 307,836 | ||||||
Transatlantic Holdings, Inc. | 3,669 | 222,341 | ||||||
Unum Group | 18,213 | 419,810 | ||||||
Validus Holdings Ltd. | 4,227 | 128,881 | ||||||
W.R. Berkley Corp. | 7,167 | 256,220 | ||||||
White Mountains Insurance Group Ltd. | 505 | 250,591 | ||||||
XL Group plc | 19,566 | 406,973 | ||||||
31,474,916 | ||||||||
Materials 3.9% | ||||||||
Air Products & Chemicals, Inc. | 12,124 | 1,094,070 | ||||||
Airgas, Inc. | 4,134 | 340,352 | ||||||
Albemarle Corp. | 5,672 | 377,301 | ||||||
Alcoa, Inc. | 64,244 | 653,362 | ||||||
Allegheny Technologies, Inc. | 6,565 | 288,007 | ||||||
Allied Nevada Gold Corp. * | 4,736 | 162,966 | ||||||
AptarGroup, Inc. | 3,601 | 190,061 | ||||||
Ashland, Inc. | 4,137 | 262,948 | ||||||
Ball Corp. | 10,210 | 409,217 | ||||||
Bemis Co., Inc. | 6,565 | 205,944 | ||||||
Celanese Corp., Series A | 9,605 | 456,910 | ||||||
CF Industries Holdings, Inc. | 4,545 | 845,370 | ||||||
Cliffs Natural Resources, Inc. | 8,731 | 554,244 | ||||||
Crown Holdings, Inc. * | 9,642 | 356,465 | ||||||
E.I. du Pont de Nemours & Co. | 57,065 | 2,901,755 | ||||||
Eastman Chemical Co. | 8,242 | 446,139 | ||||||
Ecolab, Inc. | 16,524 | 991,440 |
See financial notes 37
Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
FMC Corp. | 4,545 | 449,819 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 57,570 | 2,450,179 | ||||||
Huntsman Corp. | 11,685 | 159,617 | ||||||
International Flavors & Fragrances, Inc. | 4,885 | 278,592 | ||||||
International Paper Co. | 24,781 | 871,052 | ||||||
LyondellBasell Industries N.V., Class A | 20,743 | 895,683 | ||||||
Martin Marietta Materials, Inc. (a) | 2,756 | 236,658 | ||||||
MeadWestvaco Corp. | 10,244 | 310,188 | ||||||
Molycorp, Inc. *(a) | 3,660 | 90,402 | ||||||
Monsanto Co. | 32,825 | 2,539,999 | ||||||
Newmont Mining Corp. | 29,534 | 1,754,320 | ||||||
Nucor Corp. | 17,675 | 769,393 | ||||||
Owens-Illinois, Inc. * | 10,100 | 241,390 | ||||||
PPG Industries, Inc. | 9,596 | 875,635 | ||||||
Praxair, Inc. | 18,685 | 2,036,665 | ||||||
Reliance Steel & Aluminum Co. | 4,545 | 244,157 | ||||||
Rockwood Holdings, Inc. * | 4,545 | 242,021 | ||||||
Royal Gold, Inc. | 3,303 | 229,393 | ||||||
Sealed Air Corp. | 11,615 | 228,002 | ||||||
Sigma-Aldrich Corp. | 6,558 | 470,799 | ||||||
Sonoco Products Co. | 6,060 | 199,010 | ||||||
Southern Copper Corp. | 10,457 | 336,311 | ||||||
Steel Dynamics, Inc. | 13,130 | 194,455 | ||||||
The Dow Chemical Co. | 71,711 | 2,403,036 | ||||||
The Mosaic Co. | 17,170 | 991,568 | ||||||
The Scotts Miracle-Gro Co., Class A (a) | 2,641 | 123,704 | ||||||
The Sherwin-Williams Co. | 5,555 | 572,998 | ||||||
The Valspar Corp. | 5,555 | 257,474 | ||||||
Titanium Metals Corp. | 5,090 | 74,619 | ||||||
United States Steel Corp. (a) | 8,696 | 236,705 | ||||||
Valhi, Inc. | 505 | 28,962 | ||||||
Vulcan Materials Co. | 7,074 | 315,217 | ||||||
Walter Energy, Inc. | 3,797 | 246,160 | ||||||
31,890,734 | ||||||||
Media 3.4% | ||||||||
AMC Networks, Inc., Class A * | 3,636 | 165,038 | ||||||
Cablevision Systems Corp., Class A | 14,654 | 208,526 | ||||||
CBS Corp., Class B | 38,410 | 1,148,459 | ||||||
Charter Communications, Inc., Class A * | 2,526 | 160,174 | ||||||
Clear Channel Outdoor Holdings, Inc., Class A * | 2,020 | 26,725 | ||||||
Comcast Corp., Class A | 169,680 | 4,985,198 | ||||||
DIRECTV, Class A * | 44,945 | 2,081,852 | ||||||
Discovery Communications, Inc., Series A * | 16,122 | 752,091 | ||||||
DISH Network Corp., Class A | 13,130 | 383,002 | ||||||
Gannett Co., Inc. | 14,645 | 217,332 | ||||||
John Wiley & Sons, Inc., Class A | 3,030 | 137,562 | ||||||
Liberty Global, Inc., Series A * | 16,530 | 829,475 | ||||||
Liberty Media Corp. - Liberty Capital, Series A * | 7,070 | 635,522 | ||||||
News Corp., Class A | 141,765 | 2,816,871 | ||||||
Omnicom Group, Inc. | 17,171 | 848,934 | ||||||
Scripps Networks Interactive, Class A | 5,666 | 256,103 | ||||||
Sirius XM Radio, Inc. * | 236,845 | 535,270 | ||||||
The Interpublic Group of Cos., Inc. | 28,162 | 330,059 | ||||||
The McGraw-Hill Cos., Inc. | 18,245 | 849,122 | ||||||
The Walt Disney Co. | 105,345 | 4,423,437 | ||||||
The Washington Post Co., Class B (a) | 505 | 198,920 | ||||||
Time Warner Cable, Inc. | 19,485 | 1,545,940 | ||||||
Time Warner, Inc. | 61,170 | 2,276,136 | ||||||
Viacom, Inc., Class B | 32,641 | 1,554,364 | ||||||
Virgin Media, Inc. | 18,923 | 476,860 | ||||||
27,842,972 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 7.3% | ||||||||
Abbott Laboratories | 95,942 | 5,431,277 | ||||||
Agilent Technologies, Inc. * | 21,210 | 925,180 | ||||||
Alexion Pharmaceuticals, Inc. * | 11,608 | 971,938 | ||||||
Allergan, Inc. | 19,190 | 1,719,232 | ||||||
Amgen, Inc. | 54,028 | 3,671,202 | ||||||
Biogen Idec, Inc. * | 14,778 | 1,721,194 | ||||||
Bristol-Myers Squibb Co. | 105,040 | 3,379,137 | ||||||
Celgene Corp. * | 28,026 | 2,055,006 | ||||||
Covance, Inc. * | 3,535 | 168,725 | ||||||
Eli Lilly & Co. | 59,985 | 2,353,811 | ||||||
Endo Pharmaceuticals Holdings, Inc. * | 6,953 | 257,748 | ||||||
Forest Laboratories, Inc. * | 15,458 | 502,694 | ||||||
Gilead Sciences, Inc. * | 45,882 | 2,087,631 | ||||||
Hospira, Inc. * | 10,100 | 359,762 | ||||||
Human Genome Sciences, Inc. * | 11,295 | 89,005 | ||||||
Illumina, Inc. * | 7,591 | 389,039 | ||||||
Johnson & Johnson | 167,660 | 10,911,313 | ||||||
Life Technologies Corp. * | 11,110 | 525,614 | ||||||
Merck & Co., Inc. | 188,862 | 7,208,862 | ||||||
Mettler-Toledo International, Inc. * | 2,020 | 364,166 | ||||||
Mylan, Inc. * | 25,969 | 608,713 | ||||||
PerkinElmer, Inc. | 7,074 | 190,998 | ||||||
Perrigo Co. | 5,158 | 531,583 | ||||||
Pfizer, Inc. | 471,670 | 9,952,237 | ||||||
Regeneron Pharmaceuticals, Inc. * | 4,414 | 462,543 | ||||||
Techne Corp. | 2,127 | 152,272 | ||||||
Thermo Fisher Scientific, Inc. * | 23,230 | 1,315,283 | ||||||
United Therapeutics Corp. * | 3,030 | 144,622 | ||||||
Vertex Pharmaceuticals, Inc. * | 13,130 | 511,020 | ||||||
Warner Chilcott plc, Class A * | 10,437 | 174,611 | ||||||
Waters Corp. * | 5,616 | 503,194 | ||||||
Watson Pharmaceuticals, Inc. * | 7,759 | 452,505 | ||||||
60,092,117 | ||||||||
Real Estate 2.7% | ||||||||
Alexandria Real Estate Equities, Inc. | 3,769 | 270,200 | ||||||
American Capital Agency Corp. | 13,130 | 403,222 | ||||||
American Tower Corp. | 24,004 | 1,502,170 | ||||||
Annaly Capital Management, Inc. | 59,222 | 984,270 | ||||||
AvalonBay Communities, Inc. | 6,060 | 785,800 | ||||||
Boston Properties, Inc. | 9,090 | 923,090 | ||||||
BRE Properties, Inc. | 4,566 | 221,131 | ||||||
Brookfield Office Properties, Inc. | 15,702 | 274,000 | ||||||
Camden Property Trust | 4,332 | 268,584 | ||||||
CBRE Group, Inc. * | 17,812 | 326,494 | ||||||
Chimera Investment Corp. | 59,706 | 183,297 | ||||||
DDR Corp. | 13,205 | 186,587 | ||||||
Digital Realty Trust, Inc. | 6,565 | 475,963 | ||||||
Equity Residential | 18,180 | 1,034,260 | ||||||
Essex Property Trust, Inc. | 2,064 | 288,939 |
38 See financial notes
Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Federal Realty Investment Trust | 4,040 | 385,214 | ||||||
General Growth Properties, Inc. | 23,504 | 382,410 | ||||||
HCP, Inc. | 24,745 | 977,428 | ||||||
Health Care REIT, Inc. | 12,120 | 659,813 | ||||||
Host Hotels & Resorts, Inc. | 42,595 | 672,149 | ||||||
Jones Lang LaSalle, Inc. | 2,530 | 205,967 | ||||||
Kimco Realty Corp. | 24,788 | 455,603 | ||||||
Liberty Property Trust | 7,070 | 239,814 | ||||||
Piedmont Office Realty Trust, Inc., Class A | 10,278 | 181,098 | ||||||
Plum Creek Timber Co., Inc. | 10,100 | 395,516 | ||||||
ProLogis, Inc. | 28,038 | 943,759 | ||||||
Public Storage | 8,615 | 1,155,013 | ||||||
Rayonier, Inc. | 7,575 | 337,239 | ||||||
Realty Income Corp. | 8,138 | 300,211 | ||||||
Regency Centers Corp. | 5,358 | 229,269 | ||||||
Rouse Properties, Inc. * | 868 | 12,699 | ||||||
Simon Property Group, Inc. | 18,180 | 2,463,026 | ||||||
SL Green Realty Corp. | 5,214 | 396,525 | ||||||
The Macerich Co. | 8,033 | 433,702 | ||||||
UDR, Inc. | 13,150 | 329,013 | ||||||
Ventas, Inc. | 17,675 | 988,386 | ||||||
Vornado Realty Trust | 11,252 | 919,626 | ||||||
Weyerhaeuser Co. | 32,076 | 670,068 | ||||||
21,861,555 | ||||||||
Retailing 3.8% | ||||||||
Abercrombie & Fitch Co., Class A | 5,555 | 254,364 | ||||||
Advance Auto Parts, Inc. | 4,562 | 389,458 | ||||||
Amazon.com, Inc. * | 21,715 | 3,901,968 | ||||||
American Eagle Outfitters, Inc. | 11,932 | 173,491 | ||||||
AutoNation, Inc. * | 2,130 | 72,590 | ||||||
AutoZone, Inc. * | 2,020 | 756,450 | ||||||
Bed Bath & Beyond, Inc. * | 15,150 | 905,061 | ||||||
Best Buy Co., Inc. | 18,022 | 445,143 | ||||||
CarMax, Inc. * | 13,656 | 419,103 | ||||||
Dick’s Sporting Goods, Inc. | 5,516 | 246,896 | ||||||
Dollar General Corp. * | 7,470 | 314,188 | ||||||
Dollar Tree, Inc. * | 7,575 | 670,463 | ||||||
Expedia, Inc. | 6,076 | 206,888 | ||||||
Family Dollar Stores, Inc. | 6,755 | 364,703 | ||||||
GameStop Corp., Class A (a) | 8,474 | 193,038 | ||||||
Genuine Parts Co. | 9,642 | 604,361 | ||||||
Groupon, Inc. *(a) | 2,020 | 39,824 | ||||||
Guess?, Inc. | 3,679 | 127,477 | ||||||
J.C. Penney Co., Inc. | 9,121 | 361,192 | ||||||
Kohl’s Corp. | 15,503 | 770,189 | ||||||
Liberty Interactive Corp., Series A * | 36,865 | 691,587 | ||||||
Limited Brands, Inc. | 15,872 | 738,524 | ||||||
LKQ Corp. * | 9,090 | 289,607 | ||||||
Lowe’s Cos., Inc. | 77,027 | 2,186,026 | ||||||
Macy’s, Inc. | 25,755 | 977,917 | ||||||
Netflix, Inc. * | 3,184 | 352,564 | ||||||
Nordstrom, Inc. | 10,247 | 549,444 | ||||||
O’Reilly Automotive, Inc. * | 7,827 | 677,036 | ||||||
PetSmart, Inc. | 7,070 | 394,082 | ||||||
Priceline.com, Inc. * | 3,030 | 1,899,871 | ||||||
Ross Stores, Inc. | 14,152 | 754,726 | ||||||
Sears Holdings Corp. *(a) | 3,030 | 211,070 | ||||||
Staples, Inc. | 43,430 | 636,684 | ||||||
Target Corp. | 37,370 | 2,118,505 | ||||||
The Gap, Inc. | 15,565 | 363,598 | ||||||
The Home Depot, Inc. | 94,932 | 4,515,915 | ||||||
The TJX Cos., Inc. | 46,077 | 1,686,879 | ||||||
Tiffany & Co. | 7,692 | 500,057 | ||||||
Tractor Supply Co. | 4,545 | 388,461 | ||||||
TripAdvisor, Inc. * | 6,076 | 195,830 | ||||||
Urban Outfitters, Inc. * | 7,415 | 210,512 | ||||||
31,555,742 | ||||||||
Semiconductors & Semiconductor Equipment 2.4% | ||||||||
Advanced Micro Devices, Inc. * | 34,352 | 252,487 | ||||||
Altera Corp. | 19,797 | 761,195 | ||||||
Analog Devices, Inc. | 18,199 | 713,583 | ||||||
Applied Materials, Inc. | 80,295 | 982,811 | ||||||
Atmel Corp. * | 27,298 | 275,983 | ||||||
Broadcom Corp., Class A * | 28,565 | 1,061,190 | ||||||
Cree, Inc. * | 7,086 | 214,635 | ||||||
First Solar, Inc. *(a) | 3,535 | 114,180 | ||||||
Intel Corp. | 312,586 | 8,402,312 | ||||||
KLA-Tencor Corp. | 10,137 | 490,631 | ||||||
Lam Research Corp. * | 7,692 | 320,756 | ||||||
Linear Technology Corp. | 13,154 | 440,396 | ||||||
LSI Corp. * | 34,885 | 300,011 | ||||||
Marvell Technology Group Ltd. * | 30,940 | 464,100 | ||||||
Maxim Integrated Products, Inc. | 17,999 | 501,992 | ||||||
Microchip Technology, Inc. | 11,648 | 420,143 | ||||||
Micron Technology, Inc. * | 52,254 | 446,772 | ||||||
NVIDIA Corp. * | 36,374 | 551,066 | ||||||
ON Semiconductor Corp. * | 26,765 | 242,758 | ||||||
Skyworks Solutions, Inc. * | 10,856 | 292,786 | ||||||
Texas Instruments, Inc. | 69,825 | 2,328,664 | ||||||
Xilinx, Inc. | 16,204 | 598,414 | ||||||
20,176,865 | ||||||||
Software & Services 9.4% | ||||||||
Accenture plc, Class A | 42,420 | 2,525,687 | ||||||
Activision Blizzard, Inc. | 25,603 | 305,956 | ||||||
Adobe Systems, Inc. * | 30,162 | 992,028 | ||||||
Akamai Technologies, Inc. * | 11,299 | 406,764 | ||||||
Alliance Data Systems Corp. * | 3,123 | 379,007 | ||||||
ANSYS, Inc. * | 5,565 | 351,597 | ||||||
Autodesk, Inc. * | 14,173 | 536,448 | ||||||
Automatic Data Processing, Inc. | 30,083 | 1,634,109 | ||||||
BMC Software, Inc. * | 10,384 | 388,777 | ||||||
Broadridge Financial Solutions, Inc. | 7,622 | 185,519 | ||||||
CA, Inc. | 22,593 | 610,689 | ||||||
Citrix Systems, Inc. * | 11,615 | 868,105 | ||||||
Cognizant Technology Solutions Corp., Class A * | 18,527 | 1,314,491 | ||||||
Computer Sciences Corp. | 9,180 | 291,557 | ||||||
eBay, Inc. * | 67,670 | 2,418,526 | ||||||
Electronic Arts, Inc. * | 20,420 | 333,459 | ||||||
Equinix, Inc. * | 3,030 | 424,745 | ||||||
FactSet Research Systems, Inc. | 2,595 | 226,803 | ||||||
Fidelity National Information Services, Inc. | 15,745 | 499,589 | ||||||
Fiserv, Inc. * | 8,594 | 569,782 | ||||||
Genpact Ltd. * | 6,102 | 97,754 | ||||||
Global Payments, Inc. | 5,050 | 260,681 | ||||||
Google, Inc., Class A * | 15,290 | 9,453,042 |
See financial notes 39
Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
IAC/InterActiveCorp | 4,545 | 207,252 | ||||||
Informatica Corp. * | 6,565 | 322,735 | ||||||
International Business Machines Corp. | 72,713 | 14,304,828 | ||||||
Intuit, Inc. | 16,750 | 968,820 | ||||||
LinkedIn Corp., Class A * | 1,010 | 87,739 | ||||||
MasterCard, Inc., Class A | 6,565 | 2,757,300 | ||||||
Microsoft Corp. | 459,036 | 14,569,803 | ||||||
Nuance Communications, Inc. * | 14,035 | 363,787 | ||||||
Oracle Corp. | 238,856 | 6,991,315 | ||||||
Paychex, Inc. | 20,231 | 633,230 | ||||||
Rackspace Hosting, Inc. * | 6,565 | 342,956 | ||||||
Red Hat, Inc. * | 11,615 | 574,478 | ||||||
Rovi Corp. * | 6,763 | 239,951 | ||||||
SAIC, Inc. * | 20,957 | 256,095 | ||||||
Salesforce.com, Inc. * | 7,575 | 1,084,437 | ||||||
Solera Holdings, Inc. | 4,087 | 196,176 | ||||||
Symantec Corp. * | 45,020 | 803,157 | ||||||
Synopsys, Inc. * | 9,170 | 279,410 | ||||||
Teradata Corp. * | 10,160 | 676,148 | ||||||
TIBCO Software, Inc. * | 9,776 | 283,211 | ||||||
Total System Services, Inc. | 12,124 | 265,273 | ||||||
VeriSign, Inc. | 9,714 | 358,932 | ||||||
Visa, Inc., Class A | 29,788 | 3,466,430 | ||||||
VMware, Inc., Class A * | 4,042 | 399,713 | ||||||
Western Union Co. | 38,000 | 663,860 | ||||||
Yahoo!, Inc. * | 72,363 | 1,073,143 | ||||||
Zynga, Inc. *(a) | 6,565 | 86,461 | ||||||
77,331,755 | ||||||||
Technology Hardware & Equipment 7.9% | ||||||||
Acme Packet, Inc. * | 3,535 | 107,747 | ||||||
Amphenol Corp., Class A | 10,128 | 566,763 | ||||||
Apple, Inc. * | 56,884 | 30,856,157 | ||||||
Arrow Electronics, Inc. * | 6,813 | 273,542 | ||||||
Avnet, Inc. * | 9,130 | 326,306 | ||||||
Cisco Systems, Inc. | 330,260 | 6,565,569 | ||||||
Corning, Inc. | 95,602 | 1,246,650 | ||||||
Dell, Inc. * | 98,244 | 1,699,621 | ||||||
Dolby Laboratories, Inc., Class A * | 3,104 | 118,169 | ||||||
EMC Corp. * | 124,891 | 3,458,232 | ||||||
F5 Networks, Inc. * | 5,050 | 631,048 | ||||||
FLIR Systems, Inc. | 9,599 | 251,206 | ||||||
Harris Corp. | 7,077 | 308,770 | ||||||
Hewlett-Packard Co. | 121,430 | 3,073,393 | ||||||
Ingram Micro, Inc., Class A * | 10,100 | 193,213 | ||||||
Jabil Circuit, Inc. | 12,123 | 313,137 | ||||||
JDS Uniphase Corp. * | 13,983 | 182,338 | ||||||
Juniper Networks, Inc. * | 32,242 | 733,828 | ||||||
Molex, Inc. | 8,840 | 239,564 | ||||||
Motorola Mobility Holdings, Inc. * | 17,720 | 703,484 | ||||||
Motorola Solutions, Inc. | 17,488 | 870,902 | ||||||
NCR Corp. * | 9,642 | 209,424 | ||||||
NetApp, Inc. * | 22,500 | 967,500 | ||||||
Polycom, Inc. * | 11,110 | 229,422 | ||||||
QUALCOMM, Inc. | 103,020 | 6,405,784 | ||||||
Riverbed Technology, Inc. * | 9,332 | 265,682 | ||||||
SanDisk Corp. * | 14,541 | 719,198 | ||||||
Seagate Technology plc | 25,953 | 681,526 | ||||||
TE Connectivity Ltd. | 26,476 | 967,698 | ||||||
Trimble Navigation Ltd. * | 7,579 | 381,148 | ||||||
Western Digital Corp. * | 14,180 | 556,565 | ||||||
Xerox Corp. | 84,850 | 698,315 | ||||||
64,801,901 | ||||||||
Telecommunication Services 2.7% | ||||||||
AT&T, Inc. | 364,105 | 11,137,972 | ||||||
CenturyLink, Inc. | 37,370 | 1,504,142 | ||||||
Clearwire Corp., Class A * | 8,922 | 20,521 | ||||||
Crown Castle International Corp. * | 15,150 | 784,922 | ||||||
Frontier Communications Corp. (a) | 62,658 | 287,600 | ||||||
MetroPCS Communications, Inc. * | 19,096 | 196,689 | ||||||
NII Holdings, Inc. * | 10,232 | 182,948 | ||||||
SBA Communications Corp., Class A * | 7,101 | 333,250 | ||||||
Sprint Nextel Corp. * | 182,853 | 451,647 | ||||||
Telephone & Data Systems, Inc. | 6,090 | 153,894 | ||||||
United States Cellular Corp. * | 1,078 | 46,505 | ||||||
Verizon Communications, Inc. | 173,712 | 6,620,164 | ||||||
Windstream Corp. | 35,350 | 427,028 | ||||||
22,147,282 | ||||||||
Transportation 1.8% | ||||||||
C.H. Robinson Worldwide, Inc. | 10,100 | 668,317 | ||||||
CSX Corp. | 64,171 | 1,348,233 | ||||||
Delta Air Lines, Inc. * | 51,145 | 501,732 | ||||||
Expeditors International of Washington, Inc. | 13,134 | 573,036 | ||||||
FedEx Corp. | 18,180 | 1,636,018 | ||||||
Hertz Global Holdings, Inc. * | 14,373 | 205,534 | ||||||
J.B. Hunt Transport Services, Inc. | 6,089 | 311,818 | ||||||
Kansas City Southern * | 6,626 | 461,037 | ||||||
Norfolk Southern Corp. | 20,705 | 1,426,574 | ||||||
Southwest Airlines Co. | 48,504 | 435,566 | ||||||
Union Pacific Corp. | 29,795 | 3,284,899 | ||||||
United Continental Holdings, Inc. * | 20,203 | 417,192 | ||||||
United Parcel Service, Inc., Class B | 42,112 | 3,237,992 | ||||||
14,507,948 | ||||||||
Utilities 3.5% | ||||||||
AGL Resources, Inc. | 7,100 | 283,077 | ||||||
Alliant Energy Corp. | 6,731 | 287,010 | ||||||
Ameren Corp. | 14,649 | 469,793 | ||||||
American Electric Power Co., Inc. | 29,337 | 1,103,365 | ||||||
American Water Works Co., Inc. | 10,624 | 364,191 | ||||||
Aqua America, Inc. | 8,127 | 180,501 | ||||||
Atmos Energy Corp. | 5,555 | 170,705 | ||||||
Calpine Corp. * | 23,525 | 360,168 | ||||||
CenterPoint Energy, Inc. | 23,866 | 465,148 | ||||||
CMS Energy Corp. | 15,250 | 326,502 | ||||||
Consolidated Edison, Inc. | 17,675 | 1,026,917 | ||||||
Constellation Energy Group, Inc. | 11,110 | 402,849 | ||||||
Dominion Resources, Inc. | 34,763 | 1,754,489 | ||||||
DTE Energy Co. | 10,147 | 547,837 | ||||||
Duke Energy Corp. | 80,582 | 1,685,775 | ||||||
Edison International | 18,226 | 763,123 | ||||||
Entergy Corp. | 10,672 | 711,075 | ||||||
Exelon Corp. | 40,311 | 1,574,951 | ||||||
FirstEnergy Corp. | 25,394 | 1,124,700 | ||||||
Integrys Energy Group, Inc. | 4,654 | 242,148 |
40 See financial notes
Schwab U.S. Large-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
ITC Holdings Corp. | 3,030 | 228,704 | ||||||
MDU Resources Group, Inc. | 10,652 | 231,148 | ||||||
National Fuel Gas Co. | 4,677 | 235,393 | ||||||
NextEra Energy, Inc. | 26,260 | 1,562,733 | ||||||
NiSource, Inc. | 16,712 | 401,088 | ||||||
Northeast Utilities | 10,652 | 382,407 | ||||||
NRG Energy, Inc. * | 14,731 | 251,900 | ||||||
NSTAR | 6,565 | 307,899 | ||||||
NV Energy, Inc. | 14,183 | 222,389 | ||||||
OGE Energy Corp. | 6,072 | 318,659 | ||||||
ONEOK, Inc. | 6,060 | 500,798 | ||||||
Pepco Holdings, Inc. | 13,682 | 265,978 | ||||||
PG&E Corp. | 24,565 | 1,023,869 | ||||||
Pinnacle West Capital Corp. | 6,580 | 309,457 | ||||||
PPL Corp. | 35,284 | 1,007,358 | ||||||
Progress Energy, Inc. | 17,871 | 948,593 | ||||||
Public Service Enterprise Group, Inc. | 31,061 | 956,058 | ||||||
Questar Corp. | 10,706 | 205,769 | ||||||
SCANA Corp. | 7,070 | 318,150 | ||||||
Sempra Energy | 13,635 | 807,737 | ||||||
TECO Energy, Inc. | 12,167 | 218,398 | ||||||
The AES Corp. * | 46,885 | 635,761 | ||||||
The Southern Co. | 52,520 | 2,320,859 | ||||||
UGI Corp. | 6,714 | 189,671 | ||||||
Westar Energy, Inc. | 6,811 | 187,439 | ||||||
Wisconsin Energy Corp. | 14,140 | 481,891 | ||||||
Xcel Energy, Inc. | 29,307 | 776,342 | ||||||
29,140,772 | ||||||||
Total Common Stock | ||||||||
(Cost $739,869,723) | 821,597,626 | |||||||
Rights 0.0% of net assets | ||||||||
Real Estate 0.0% | ||||||||
Rouse Properties, Inc. *(c)(d) | 861 | — | ||||||
Total Rights | ||||||||
(Cost $—) | — | |||||||
Other Investment Company 0.1% of net assets | ||||||||
Money Market Fund 0.1% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 448,033 | 448,033 | ||||||
Total Other Investment Company | ||||||||
(Cost $448,033) | 448,033 | |||||||
End of Investments. | ||||||||
Collateral Invested for Securities on Loan 0.1% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 1,018,292 | 1,018,292 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $1,018,292) | 1,018,292 | |||||||
End of Collateral Invested for Securities on Loan |
At 2/29/12, the tax basis cost of the fund’s investments was $740,748,305 and the unrealized appreciation and depreciation were $103,627,211 and ($22,329,857), respectively, with a net unrealized appreciation of $81,297,354.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Issuer is affiliated with the fund’s adviser. | |
(c) | Illiquid security. At the period end, the value of these amounted to $0 or 0% of net assets. | |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $821,597,626 | $— | $— | $821,597,626 | ||||||||||||
Other Investment Company(a) | 448,033 | — | — | 448,033 | ||||||||||||
Rights(a) | — | — | — | — | ||||||||||||
Total | $822,045,659 | $— | $— | $822,045,659 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $1,018,292 | $— | $— | $1,018,292 |
(a) | As categorized in Portfolio Holdings. |
There were no significant transfers between Level 1, Level 2 and Level 3 for the period ended February 29, 2012.
See financial notes 41
Schwab U.S. Large-Cap ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $739,287,726) including securities on loan of $1,188,785 | $821,176,493 | |||||
Investment in affiliated issuer, at value (cost $1,030,030) | $869,166 | |||||
Collateral invested for securities on loan | 1,018,292 | |||||
Receivables: | ||||||
Dividends | 1,826,406 | |||||
Fund shares sold | 1,638,995 | |||||
Income from securities on loan | 5,044 | |||||
Foreign tax reclaims | + | 951 | ||||
Total assets | 826,535,347 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 1,018,292 | |||||
Payables: | ||||||
Investments bought | 1,626,019 | |||||
Investment adviser fees | + | 5,403 | ||||
Total liabilities | 2,649,714 | |||||
Net Assets | ||||||
Total assets | 826,535,347 | |||||
Total liabilities | − | 2,649,714 | ||||
Net assets | $823,885,633 | |||||
Net Assets by Source | ||||||
Capital received from investors | 739,436,395 | |||||
Net investment income not yet distributed | 2,745,351 | |||||
Net realized capital losses | (83,964 | ) | ||||
Net unrealized capital gains | 81,787,851 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$823,885,633 | 25,250,001 | $32.63 |
42 See financial notes
Schwab U.S. Large-Cap ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (including $7,038 from affiliated issuer and net of foreign withholding tax of $15,289) | $7,761,216 | |||||
Interest | 246 | |||||
Securities on loan | + | 21,751 | ||||
Total investment income | 7,783,213 | |||||
Expenses | ||||||
Investment adviser fees | 275,239 | |||||
Total expenses | − | 275,239 | ||||
Net investment income | 7,507,974 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments (including $655 gains from affiliated issuer) | (2,688,161 | ) | ||||
Net realized gains on in-kind redemptions | + | 3,963,071 | ||||
Net realized gains | 1,274,910 | |||||
Net unrealized gains on investments (including $98,551 gains from affiliated issuer) | + | 82,931,136 | ||||
Net realized and unrealized gains | 84,206,046 | |||||
Net increase in net assets resulting from operations | $91,714,020 |
See financial notes 43
Schwab U.S. Large-Cap ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $7,507,974 | $9,053,736 | ||||||||
Net realized gains | 1,274,910 | 14,320,204 | ||||||||
Net unrealized gains | + | 82,931,136 | 18,714,018 | |||||||
Net increase in net assets resulting from operations | 91,714,020 | 42,087,958 | ||||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($6,840,965 | ) | ($8,109,371 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 4,800,000 | $143,652,269 | 12,800,000 | $387,220,506 | ||||||||||||||
Shares Redeemed | + | (700,000 | ) | (20,420,197 | ) | (2,600,000 | ) | (78,921,350 | ) | |||||||||
Net transactions in fund shares | 4,100,000 | $123,232,072 | 10,200,000 | $308,299,156 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 21,150,001 | $615,780,506 | 10,950,001 | $273,502,763 | ||||||||||||||
Total increase | + | 4,100,000 | 208,105,127 | 10,200,000 | 342,277,743 | |||||||||||||
End of period | 25,250,001 | $823,885,633 | 21,150,001 | $615,780,506 | ||||||||||||||
Net investment income not yet distributed | $2,745,351 | $2,078,342 |
44 See financial notes
Schwab U.S. Large-Cap Growth ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 12/9/091– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 29.44 | 24.21 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.17 | 0.27 | 0.15 | |||||||||||
Net realized and unrealized gains (losses) | 3.90 | 5.20 | (0.83 | ) | ||||||||||
Total from investment operations | 4.07 | 5.47 | (0.68 | ) | ||||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.18 | ) | (0.24 | ) | (0.11 | ) | ||||||||
Net asset value at end of period | 33.33 | 29.44 | 24.21 | |||||||||||
Total return (%) | 13.93 | 2 | 22.57 | (2.75 | )2 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.13 | 3 | 0.13 | 0.14 | 3,4 | |||||||||
Gross operating expenses | 0.13 | 3 | 0.13 | 0.14 | 3 | |||||||||
Net investment income (loss) | 1.17 | 3 | 0.93 | 0.86 | 3 | |||||||||
Portfolio turnover rate5 | 4 | 2 | 10 | 6 | 2 | |||||||||
Net assets, end of period ($ x 1,000) | 394,932 | 309,155 | 108,946 |
* Unaudited.
1 Commencement of operations.
2 Not annualized.
3 Annualized.
4 Effective June 14, 2010, the annual operating expense was reduced. The ratio presented for period ended 8/31/10 is a blended rate.
5 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes 45
Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .8% | Common Stock | 350,377,717 | 394,269,513 | ||||||||
0 | .1% | Other Investment Company | 208,246 | 208,246 | ||||||||
99 | .9% | Total Investments | 350,585,963 | 394,477,759 | ||||||||
0 | .2% | Collateral Invested for Securities on Loan | 876,527 | 876,527 | ||||||||
(0 | .1)% | Other Assets and Liabilities, Net | (421,800 | ) | ||||||||
100 | .0% | Net Assets | 394,932,486 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.8% of net assets | ||||||||
Automobiles & Components 0.6% | ||||||||
BorgWarner, Inc. * | 6,636 | 549,726 | ||||||
Gentex Corp. | 8,769 | 207,387 | ||||||
Johnson Controls, Inc. | 40,776 | 1,330,521 | ||||||
The Goodyear Tire & Rubber Co. * | 14,937 | 192,090 | ||||||
Visteon Corp. * | 3,081 | 165,511 | ||||||
2,445,235 | ||||||||
Banks 0.5% | ||||||||
Fifth Third Bancorp | 54,994 | 748,468 | ||||||
Hudson City Bancorp, Inc. | 29,254 | 200,390 | ||||||
SunTrust Banks, Inc. | 32,124 | 737,567 | ||||||
Zions Bancorp | 10,960 | 208,240 | ||||||
1,894,665 | ||||||||
Capital Goods 7.9% | ||||||||
Aecom Technology Corp. * | 6,199 | 144,747 | ||||||
AGCO Corp. * | 5,728 | 295,737 | ||||||
AMETEK, Inc. | 9,548 | 454,485 | ||||||
Caterpillar, Inc. | 35,313 | 4,033,098 | ||||||
Cooper Industries plc | 9,954 | 609,384 | ||||||
Cummins, Inc. | 10,665 | 1,285,879 | ||||||
Danaher Corp. | 34,134 | 1,803,299 | ||||||
Deere & Co. | 24,885 | 2,063,713 | ||||||
Donaldson Co., Inc. | 4,266 | 313,252 | ||||||
Dover Corp. | 11,155 | 714,143 | ||||||
Emerson Electric Co. | 44,664 | 2,247,046 | ||||||
Exelis, Inc. | 10,999 | 115,599 | ||||||
Fastenal Co. | 17,676 | 931,172 | ||||||
First Solar, Inc. *(a) | 3,318 | 107,171 | ||||||
Flowserve Corp. | 3,318 | 393,415 | ||||||
Fluor Corp. | 10,428 | 630,685 | ||||||
Foster Wheeler AG * | 6,985 | 172,041 | ||||||
Gardner Denver, Inc. | 3,081 | 211,603 | ||||||
Goodrich Corp. | 7,584 | 955,356 | ||||||
Illinois Tool Works, Inc. | 24,897 | 1,386,514 | ||||||
ITT Corp. | 5,499 | 137,200 | ||||||
Jacobs Engineering Group, Inc. * | 7,821 | 361,487 | ||||||
Joy Global, Inc. | 6,399 | 556,457 | ||||||
KBR, Inc. | 8,951 | 325,100 | ||||||
Lincoln Electric Holdings, Inc. | 5,051 | 233,306 | ||||||
McDermott International, Inc. * | 13,987 | 182,670 | ||||||
MSC Industrial Direct Co., Class A | 2,651 | 210,516 | ||||||
Navistar International Corp. * | 4,357 | 182,035 | ||||||
PACCAR, Inc. | 21,567 | 992,298 | ||||||
Pall Corp. | 7,110 | 451,130 | ||||||
Precision Castparts Corp. | 8,769 | 1,468,194 | ||||||
Quanta Services, Inc. * | 12,349 | 258,094 | ||||||
Rockwell Collins, Inc. | 9,243 | 548,017 | ||||||
Roper Industries, Inc. | 5,748 | 526,057 | ||||||
Spirit AeroSystems Holdings, Inc., Class A * | 6,823 | 163,479 | ||||||
SPX Corp. | 3,318 | 242,679 | ||||||
Textron, Inc. | 16,407 | 451,357 | ||||||
The Babcock & Wilcox Co. * | 6,987 | 179,845 | ||||||
The Boeing Co. | 39,690 | 2,974,765 | ||||||
The Timken Co. | 4,740 | 248,376 | ||||||
TransDigm Group, Inc. * | 2,844 | 337,839 | ||||||
URS Corp. * | 4,643 | 202,667 | ||||||
W.W. Grainger, Inc. | 3,555 | 738,480 | ||||||
Xylem, Inc. | 10,999 | 285,754 | ||||||
31,126,141 | ||||||||
Commercial & Professional Services 0.8% | ||||||||
Copart, Inc. * | 3,469 | 172,687 | ||||||
Corrections Corp. of America * | 5,965 | 149,483 | ||||||
Equifax, Inc. | 7,157 | 300,880 | ||||||
IHS, Inc., Class A * | 3,081 | 291,370 | ||||||
Manpower, Inc. | 4,858 | 209,234 | ||||||
Nielsen Holdings N.V. * | 4,320 | 127,397 | ||||||
Robert Half International, Inc. | 8,678 | 246,715 | ||||||
Stericycle, Inc. * | 5,214 | 452,419 | ||||||
The Dun & Bradstreet Corp. | 2,925 | 241,751 | ||||||
Towers Watson & Co., Class A | 3,222 | 206,015 | ||||||
Verisk Analytics, Inc., Class A * | 8,226 | 357,831 | ||||||
Waste Connections, Inc. | 6,653 | 216,356 | ||||||
2,972,138 | ||||||||
Consumer Durables & Apparel 1.8% | ||||||||
Coach, Inc. | 17,334 | 1,297,277 | ||||||
Fossil, Inc. * | 3,161 | 385,579 | ||||||
Harman International Industries, Inc. | 4,190 | 205,855 | ||||||
Michael Kors Holdings Ltd. * | 2,370 | 102,502 | ||||||
Mohawk Industries, Inc. * | 3,555 | 225,778 | ||||||
NIKE, Inc., Class B | 22,752 | 2,455,396 | ||||||
NVR, Inc. * | 293 | 202,756 | ||||||
PVH Corp. | 3,792 | 322,358 | ||||||
Ralph Lauren Corp. | 3,792 | 658,784 | ||||||
Stanley Black & Decker, Inc. | 10,034 | 770,611 | ||||||
Tempur-Pedic International, Inc. * | 3,905 | 308,495 | ||||||
6,935,391 |
46 See financial notes
Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Consumer Services 2.4% | ||||||||
Apollo Group, Inc., Class A * | 6,986 | 297,883 | ||||||
Chipotle Mexican Grill, Inc. * | 1,896 | 739,857 | ||||||
Darden Restaurants, Inc. | 7,900 | 402,821 | ||||||
DeVry, Inc. | 3,659 | 130,004 | ||||||
Dunkin’ Brands Group, Inc. * | 2,575 | 74,778 | ||||||
Hyatt Hotels Corp., Class A * | 2,404 | 99,550 | ||||||
Las Vegas Sands Corp. * | 23,602 | 1,312,507 | ||||||
Marriott International, Inc., Class A | 17,551 | 619,199 | ||||||
Marriott Vacations Worldwide Corp. * | 1,868 | 46,569 | ||||||
MGM Resorts International * | 19,010 | 261,768 | ||||||
Penn National Gaming, Inc. * | 3,940 | 167,647 | ||||||
Starbucks Corp. | 45,030 | 2,186,657 | ||||||
Starwood Hotels & Resorts Worldwide, Inc. | 11,613 | 625,941 | ||||||
Weight Watchers International, Inc. (a) | 1,896 | 147,850 | ||||||
Wynn Resorts Ltd. | 5,451 | 646,161 | ||||||
Yum! Brands, Inc. | 27,966 | 1,852,468 | ||||||
9,611,660 | ||||||||
Diversified Financials 2.2% | ||||||||
Affiliated Managers Group, Inc. * | 3,318 | 353,002 | ||||||
BlackRock, Inc. | 6,162 | 1,226,238 | ||||||
CBOE Holdings, Inc. | 5,257 | 144,936 | ||||||
Discover Financial Services | 32,610 | 978,626 | ||||||
E*TRADE Financial Corp. * | 15,584 | 150,074 | ||||||
Franklin Resources, Inc. | 9,006 | 1,061,717 | ||||||
IntercontinentalExchange, Inc. * | 4,503 | 621,234 | ||||||
Leucadia National Corp. | 11,797 | 336,097 | ||||||
Moody’s Corp. | 11,545 | 445,752 | ||||||
MSCI, Inc., Class A * | 7,195 | 254,559 | ||||||
State Street Corp. | 29,500 | 1,245,785 | ||||||
T. Rowe Price Group, Inc. | 15,233 | 938,200 | ||||||
The Charles Schwab Corp. (b) | 61,755 | 857,159 | ||||||
The NASDAQ OMX Group, Inc. * | 8,252 | 217,358 | ||||||
8,830,737 | ||||||||
Energy 9.9% | ||||||||
Alpha Natural Resources, Inc. * | 13,357 | 247,906 | ||||||
Anadarko Petroleum Corp. | 30,099 | 2,531,928 | ||||||
Arch Coal, Inc. | 12,764 | 173,207 | ||||||
Baker Hughes, Inc. | 26,070 | 1,310,800 | ||||||
Cabot Oil & Gas Corp. | 12,454 | 434,396 | ||||||
Cameron International Corp. * | 14,592 | 812,920 | ||||||
Cimarex Energy Co. | 5,118 | 412,869 | ||||||
Cobalt International Energy, Inc. * | 8,845 | 265,881 | ||||||
Concho Resources, Inc. * | 6,399 | 683,669 | ||||||
CONSOL Energy, Inc. | 13,538 | 484,931 | ||||||
Continental Resources, Inc. * | 3,555 | 322,367 | ||||||
Denbury Resources, Inc. * | 23,891 | 475,670 | ||||||
Diamond Offshore Drilling, Inc. | 3,890 | 266,348 | ||||||
EOG Resources, Inc. | 16,116 | 1,834,968 | ||||||
FMC Technologies, Inc. * | 14,457 | 729,067 | ||||||
Halliburton Co. | 55,153 | 2,018,048 | ||||||
Helmerich & Payne, Inc. | 5,821 | 356,827 | ||||||
Hess Corp. | 18,335 | 1,190,308 | ||||||
HollyFrontier Corp. | 11,624 | 379,291 | ||||||
Kinder Morgan, Inc. (a) | 5,937 | 209,220 | ||||||
Marathon Petroleum Corp. | 21,287 | 884,475 | ||||||
Murphy Oil Corp. | 11,850 | 757,689 | ||||||
Nabors Industries Ltd. * | 17,080 | 372,002 | ||||||
National-Oilwell Varco, Inc. | 25,596 | 2,112,438 | ||||||
Newfield Exploration Co. * | 8,058 | 290,088 | ||||||
Noble Corp. * | 15,670 | 629,621 | ||||||
Noble Energy, Inc. | 10,665 | 1,041,437 | ||||||
Occidental Petroleum Corp. | 48,822 | 5,095,552 | ||||||
Oceaneering International, Inc. | 6,431 | 349,010 | ||||||
Patterson-UTI Energy, Inc. | 9,273 | 180,082 | ||||||
Peabody Energy Corp. | 16,223 | 565,858 | ||||||
Pioneer Natural Resources Co. | 7,347 | 805,525 | ||||||
Plains Exploration & Production Co. * | 8,367 | 368,734 | ||||||
QEP Resources, Inc. | 10,502 | 358,538 | ||||||
Range Resources Corp. | 9,717 | 618,779 | ||||||
Rowan Cos., Inc. * | 7,516 | 277,115 | ||||||
SandRidge Energy, Inc. * | 22,800 | 197,676 | ||||||
Schlumberger Ltd. | 81,054 | 6,290,601 | ||||||
SM Energy Co. | 3,814 | 300,238 | ||||||
Southwestern Energy Co. * | 20,750 | 685,995 | ||||||
Sunoco, Inc. | 6,403 | 247,348 | ||||||
Ultra Petroleum Corp. * | 9,029 | 225,364 | ||||||
Weatherford International Ltd. * | 44,899 | 717,486 | ||||||
Whiting Petroleum Corp. * | 6,949 | 407,489 | ||||||
38,919,761 | ||||||||
Food & Staples Retailing 3.7% | ||||||||
Costco Wholesale Corp. | 26,070 | 2,243,584 | ||||||
CVS Caremark Corp. | 80,667 | 3,638,082 | ||||||
Wal-Mart Stores, Inc. | 106,413 | 6,286,880 | ||||||
Walgreen Co. | 52,657 | 1,746,106 | ||||||
Whole Foods Market, Inc. | 9,480 | 765,415 | ||||||
14,680,067 | ||||||||
Food, Beverage & Tobacco 2.6% | ||||||||
Brown-Forman Corp., Class B | 6,491 | 529,990 | ||||||
Bunge Ltd. | 8,769 | 590,329 | ||||||
Green Mountain Coffee Roasters, Inc. * | 7,179 | 466,420 | ||||||
Lorillard, Inc. | 8,295 | 1,087,309 | ||||||
Monster Beverage Corp. * | 9,480 | 542,161 | ||||||
PepsiCo, Inc. | 94,326 | 5,936,878 | ||||||
Post Holdings, Inc. * | 1,659 | 51,661 | ||||||
Ralcorp Holdings, Inc. * | 3,318 | 247,523 | ||||||
Sara Lee Corp. | 35,098 | 710,735 | ||||||
10,163,006 | ||||||||
Health Care Equipment & Services 6.9% | ||||||||
Aetna, Inc. | 21,719 | 1,015,580 | ||||||
AmerisourceBergen Corp. | 16,150 | 603,203 | ||||||
Baxter International, Inc. | 34,365 | 1,997,637 | ||||||
Becton, Dickinson & Co. | 12,324 | 939,335 | ||||||
C.R. Bard, Inc. | 5,214 | 488,135 | ||||||
CareFusion Corp. * | 13,283 | 342,834 | ||||||
Cerner Corp. * | 8,532 | 629,918 | ||||||
Coventry Health Care, Inc. * | 8,876 | 290,156 | ||||||
Covidien plc | 29,625 | 1,547,906 | ||||||
DaVita, Inc. * | 5,688 | 492,296 | ||||||
DENTSPLY International, Inc. | 8,554 | 330,869 | ||||||
Edwards Lifesciences Corp. * | 6,873 | 502,623 |
See financial notes 47
Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Express Scripts, Inc. * | 27,149 | 1,447,856 | ||||||
Gen-Probe, Inc. * | 2,946 | 201,153 | ||||||
HCA Holdings, Inc. | 9,932 | 264,886 | ||||||
Henry Schein, Inc. * | 5,487 | 406,148 | ||||||
Hologic, Inc. * | 15,719 | 325,855 | ||||||
Hospira, Inc. * | 9,876 | 351,783 | ||||||
IDEXX Laboratories, Inc. * | 3,404 | 291,893 | ||||||
Intuitive Surgical, Inc. * | 2,370 | 1,212,539 | ||||||
Laboratory Corp. of America Holdings * | 6,162 | 553,902 | ||||||
McKesson Corp. | 14,768 | 1,233,276 | ||||||
Medco Health Solutions, Inc. * | 23,116 | 1,562,410 | ||||||
Medtronic, Inc. | 63,646 | 2,426,186 | ||||||
Patterson Cos., Inc. | 6,025 | 192,318 | ||||||
Quest Diagnostics, Inc. | 9,480 | 550,314 | ||||||
ResMed, Inc. * | 9,006 | 263,876 | ||||||
St. Jude Medical, Inc. | 19,565 | 824,078 | ||||||
Stryker Corp. | 17,607 | 944,440 | ||||||
UnitedHealth Group, Inc. | 64,938 | 3,620,294 | ||||||
Universal Health Services, Inc., Class B | 5,458 | 243,481 | ||||||
Varian Medical Systems, Inc. * | 7,110 | 463,928 | ||||||
Zimmer Holdings, Inc. * | 11,451 | 695,648 | ||||||
27,256,756 | ||||||||
Household & Personal Products 1.4% | ||||||||
Church & Dwight Co., Inc. | 8,568 | 409,036 | ||||||
Colgate-Palmolive Co. | 26,843 | 2,501,231 | ||||||
Energizer Holdings, Inc. * | 4,266 | 326,135 | ||||||
Herbalife Ltd. | 7,018 | 464,662 | ||||||
Mead Johnson Nutrition Co. | 12,324 | 958,191 | ||||||
The Estee Lauder Cos., Inc., Class A | 14,220 | 832,439 | ||||||
5,491,694 | ||||||||
Insurance 2.7% | ||||||||
Alleghany Corp. *(a) | 493 | 160,047 | ||||||
Berkshire Hathaway, Inc., Class B * | 115,182 | 9,036,028 | ||||||
Erie Indemnity Co., Class A | 1,659 | 126,266 | ||||||
Markel Corp. * | 569 | 232,124 | ||||||
RenaissanceRe Holdings Ltd. | 3,103 | 223,292 | ||||||
The Progressive Corp. | 36,266 | 776,818 | ||||||
White Mountains Insurance Group Ltd. | 363 | 180,128 | ||||||
10,734,703 | ||||||||
Materials 4.9% | ||||||||
Airgas, Inc. | 4,029 | 331,708 | ||||||
Albemarle Corp. | 5,340 | 355,217 | ||||||
Alcoa, Inc. | 63,730 | 648,134 | ||||||
Allegheny Technologies, Inc. | 6,291 | 275,986 | ||||||
Allied Nevada Gold Corp. * | 4,769 | 164,101 | ||||||
AptarGroup, Inc. | 3,707 | 195,655 | ||||||
Ashland, Inc. | 4,503 | 286,211 | ||||||
Ball Corp. | 9,803 | 392,904 | ||||||
CF Industries Holdings, Inc. | 4,266 | 793,476 | ||||||
Cliffs Natural Resources, Inc. | 8,769 | 556,656 | ||||||
Crown Holdings, Inc. * | 9,255 | 342,157 | ||||||
Ecolab, Inc. | 16,231 | 973,860 | ||||||
FMC Corp. | 4,266 | 422,206 | ||||||
Freeport-McMoRan Copper & Gold, Inc. | 56,439 | 2,402,044 | ||||||
Huntsman Corp. | 11,166 | 152,528 | ||||||
LyondellBasell Industries N.V., Class A | 20,343 | 878,411 | ||||||
Martin Marietta Materials, Inc. (a) | 2,710 | 232,708 | ||||||
Molycorp, Inc. *(a) | 3,625 | 89,538 | ||||||
Monsanto Co. | 32,071 | 2,481,654 | ||||||
Newmont Mining Corp. | 28,995 | 1,722,303 | ||||||
Nucor Corp. | 17,091 | 743,971 | ||||||
Praxair, Inc. | 18,249 | 1,989,141 | ||||||
Reliance Steel & Aluminum Co. | 4,370 | 234,756 | ||||||
Rockwood Holdings, Inc. * | 4,030 | 214,598 | ||||||
Royal Gold, Inc. | 3,318 | 230,435 | ||||||
Sigma-Aldrich Corp. | 6,212 | 445,960 | ||||||
Steel Dynamics, Inc. | 12,949 | 191,775 | ||||||
The Mosaic Co. | 16,948 | 978,747 | ||||||
The Scotts Miracle-Gro Co., Class A (a) | 2,610 | 122,252 | ||||||
United States Steel Corp. (a) | 8,593 | 233,901 | ||||||
Valhi, Inc. | 320 | 18,352 | ||||||
Walter Energy, Inc. | 3,792 | 245,835 | ||||||
19,347,180 | ||||||||
Media 3.6% | ||||||||
AMC Networks, Inc., Class A * | 3,441 | 156,187 | ||||||
Charter Communications, Inc., Class A * | 2,249 | 142,609 | ||||||
Clear Channel Outdoor Holdings, Inc., Class A * | 2,506 | 33,154 | ||||||
Comcast Corp., Class A | 165,971 | 4,876,228 | ||||||
DIRECTV, Class A * | 44,272 | 2,050,679 | ||||||
Discovery Communications, Inc., Series A * | 15,835 | 738,703 | ||||||
DISH Network Corp., Class A | 12,366 | 360,716 | ||||||
John Wiley & Sons, Inc., Class A | 3,138 | 142,465 | ||||||
Liberty Global, Inc., Series A * | 16,236 | 814,722 | ||||||
Liberty Media Corp. - Liberty Capital, Series A * | 7,110 | 639,118 | ||||||
Scripps Networks Interactive, Class A | 5,688 | 257,098 | ||||||
Sirius XM Radio, Inc. * | 235,815 | 532,942 | ||||||
The Washington Post Co., Class B | 287 | 113,049 | ||||||
Time Warner Cable, Inc. | 19,197 | 1,523,090 | ||||||
Viacom, Inc., Class B | 31,995 | 1,523,602 | ||||||
Virgin Media, Inc. | 18,048 | 454,810 | ||||||
14,359,172 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 4.7% | ||||||||
Alexion Pharmaceuticals, Inc. * | 11,139 | 932,668 | ||||||
Allergan, Inc. | 18,486 | 1,656,161 | ||||||
Amgen, Inc. | 52,614 | 3,575,121 | ||||||
Biogen Idec, Inc. * | 14,694 | 1,711,410 | ||||||
Celgene Corp. * | 27,520 | 2,017,904 | ||||||
Covance, Inc. * | 3,792 | 180,992 | ||||||
Endo Pharmaceuticals Holdings, Inc. * | 6,912 | 256,228 | ||||||
Gilead Sciences, Inc. * | 45,057 | 2,050,094 | ||||||
Human Genome Sciences, Inc. * | 11,912 | 93,867 | ||||||
Illumina, Inc. * | 7,382 | 378,328 | ||||||
Life Technologies Corp. * | 10,741 | 508,157 | ||||||
Mettler-Toledo International, Inc. * | 2,133 | 384,537 | ||||||
Mylan, Inc. * | 25,553 | 598,962 |
48 See financial notes
Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
PerkinElmer, Inc. | 6,989 | 188,703 | ||||||
Perrigo Co. | 5,062 | 521,690 | ||||||
Regeneron Pharmaceuticals, Inc. * | 4,349 | 455,732 | ||||||
Techne Corp. | 2,133 | 152,701 | ||||||
Thermo Fisher Scientific, Inc. * | 22,991 | 1,301,750 | ||||||
United Therapeutics Corp. * | 3,318 | 158,368 | ||||||
Vertex Pharmaceuticals, Inc. * | 12,361 | 481,090 | ||||||
Warner Chilcott plc, Class A * | 10,344 | 173,055 | ||||||
Waters Corp. * | 5,476 | 490,650 | ||||||
Watson Pharmaceuticals, Inc. * | 7,624 | 444,632 | ||||||
18,712,800 | ||||||||
Real Estate 2.4% | ||||||||
Alexandria Real Estate Equities, Inc. | 3,669 | 263,031 | ||||||
American Tower Corp. | 23,567 | 1,474,823 | ||||||
AvalonBay Communities, Inc. | 5,688 | 737,563 | ||||||
Boston Properties, Inc. | 8,769 | 890,492 | ||||||
CBRE Group, Inc. * | 17,631 | 323,176 | ||||||
Digital Realty Trust, Inc. | 6,285 | 455,662 | ||||||
Essex Property Trust, Inc. | 2,133 | 298,599 | ||||||
Federal Realty Investment Trust | 3,792 | 361,567 | ||||||
Jones Lang LaSalle, Inc. | 2,607 | 212,236 | ||||||
Public Storage | 8,532 | 1,143,885 | ||||||
Simon Property Group, Inc. | 17,775 | 2,408,157 | ||||||
SL Green Realty Corp. | 5,067 | 385,345 | ||||||
The Macerich Co. | 7,834 | 422,958 | ||||||
9,377,494 | ||||||||
Retailing 5.7% | ||||||||
Advance Auto Parts, Inc. | 4,503 | 384,421 | ||||||
Amazon.com, Inc. * | 21,330 | 3,832,788 | ||||||
AutoZone, Inc. * | 1,896 | 710,014 | ||||||
Bed Bath & Beyond, Inc. * | 14,931 | 891,978 | ||||||
Best Buy Co., Inc. | 17,696 | 437,091 | ||||||
CarMax, Inc. * | 13,746 | 421,865 | ||||||
Dick’s Sporting Goods, Inc. | 5,373 | 240,495 | ||||||
Dollar General Corp. * | 7,356 | 309,393 | ||||||
Dollar Tree, Inc. * | 7,347 | 650,283 | ||||||
Family Dollar Stores, Inc. | 6,642 | 358,602 | ||||||
GameStop Corp., Class A (a) | 8,223 | 187,320 | ||||||
Groupon, Inc. *(a) | 1,901 | 37,478 | ||||||
Guess?, Inc. | 4,029 | 139,605 | ||||||
Kohl’s Corp. | 15,232 | 756,726 | ||||||
Liberty Interactive Corp., Series A * | 36,089 | 677,030 | ||||||
LKQ Corp. * | 8,732 | 278,201 | ||||||
Lowe’s Cos., Inc. | 75,615 | 2,145,954 | ||||||
Netflix, Inc. * | 3,318 | 367,402 | ||||||
Nordstrom, Inc. | 9,886 | 530,087 | ||||||
O’Reilly Automotive, Inc. * | 7,821 | 676,516 | ||||||
PetSmart, Inc. | 6,762 | 376,914 | ||||||
Priceline.com, Inc. * | 3,081 | 1,931,849 | ||||||
Ross Stores, Inc. | 14,220 | 758,353 | ||||||
Sears Holdings Corp. *(a) | 2,757 | 192,053 | ||||||
Target Corp. | 36,807 | 2,086,589 | ||||||
The Sherwin-Williams Co. | 5,264 | 542,982 | ||||||
The TJX Cos., Inc. | 45,228 | 1,655,797 | ||||||
Tiffany & Co. | 7,655 | 497,651 | ||||||
Tractor Supply Co. | 4,283 | 366,068 | ||||||
Urban Outfitters, Inc. * | 7,283 | 206,764 | ||||||
22,648,269 | ||||||||
Semiconductors & Semiconductor Equipment 1.2% | ||||||||
Altera Corp. | 19,437 | 747,352 | ||||||
Atmel Corp. * | 25,961 | 262,466 | ||||||
Broadcom Corp., Class A * | 28,046 | 1,041,909 | ||||||
Cree, Inc. * | 6,949 | 210,485 | ||||||
Lam Research Corp. * | 7,393 | 308,288 | ||||||
Marvell Technology Group Ltd. * | 31,119 | 466,785 | ||||||
NVIDIA Corp. * | 35,688 | 540,673 | ||||||
ON Semiconductor Corp. * | 26,638 | 241,607 | ||||||
Skyworks Solutions, Inc. * | 11,106 | 299,529 | ||||||
Xilinx, Inc. | 15,905 | 587,372 | ||||||
4,706,466 | ||||||||
Software & Services 14.5% | ||||||||
Accenture plc, Class A | 41,712 | 2,483,532 | ||||||
Activision Blizzard, Inc. | 25,393 | 303,446 | ||||||
Adobe Systems, Inc. * | 29,521 | 970,946 | ||||||
Akamai Technologies, Inc. * | 11,161 | 401,796 | ||||||
Alliance Data Systems Corp. * | 3,081 | 373,910 | ||||||
ANSYS, Inc. * | 5,464 | 345,216 | ||||||
Autodesk, Inc. * | 13,616 | 515,366 | ||||||
Automatic Data Processing, Inc. | 29,531 | 1,604,124 | ||||||
BMC Software, Inc. * | 10,208 | 382,187 | ||||||
Broadridge Financial Solutions, Inc. | 7,232 | 176,027 | ||||||
CA, Inc. | 22,185 | 599,661 | ||||||
Citrix Systems, Inc. * | 11,254 | 841,124 | ||||||
Cognizant Technology Solutions Corp., Class A * | 18,249 | 1,294,767 | ||||||
eBay, Inc. * | 66,435 | 2,374,387 | ||||||
Electronic Arts, Inc. * | 20,043 | 327,302 | ||||||
Equinix, Inc. * | 2,844 | 398,672 | ||||||
FactSet Research Systems, Inc. | 2,457 | 214,742 | ||||||
Fidelity National Information Services, Inc. | 15,469 | 490,831 | ||||||
Fiserv, Inc. * | 8,532 | 565,672 | ||||||
Genpact Ltd. * | 6,266 | 100,381 | ||||||
Global Payments, Inc. | 4,811 | 248,344 | ||||||
Google, Inc., Class A * | 15,013 | 9,281,787 | ||||||
IAC/InterActiveCorp | 4,420 | 201,552 | ||||||
Informatica Corp. * | 6,330 | 311,183 | ||||||
Intuit, Inc. | 16,371 | 946,899 | ||||||
LinkedIn Corp., Class A * | 990 | 86,001 | ||||||
MasterCard, Inc., Class A | 6,181 | 2,596,020 | ||||||
Microsoft Corp. | 450,063 | 14,285,000 | ||||||
Nuance Communications, Inc. * | 13,655 | 353,938 | ||||||
Oracle Corp. | 234,393 | 6,860,683 | ||||||
Rackspace Hosting, Inc. * | 6,458 | 337,366 | ||||||
Red Hat, Inc. * | 11,559 | 571,708 | ||||||
Rovi Corp. * | 6,576 | 233,316 | ||||||
Salesforce.com, Inc. * | 7,347 | 1,051,796 | ||||||
Solera Holdings, Inc. | 4,199 | 201,552 | ||||||
Symantec Corp. * | 44,339 | 791,008 | ||||||
TIBCO Software, Inc. * | 9,954 | 288,367 | ||||||
Visa, Inc., Class A | 29,151 | 3,392,302 | ||||||
VMware, Inc., Class A * | 3,866 | 382,309 | ||||||
Zynga, Inc. *(a) | 5,925 | 78,032 | ||||||
57,263,252 |
See financial notes 49
Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Technology Hardware & Equipment 15.3% | ||||||||
Acme Packet, Inc. * | 3,255 | 99,212 | ||||||
Agilent Technologies, Inc. * | 20,697 | 902,803 | ||||||
Amphenol Corp., Class A | 9,954 | 557,026 | ||||||
Apple, Inc. * | 55,812 | 30,274,661 | ||||||
Arrow Electronics, Inc. * | 6,697 | 268,885 | ||||||
Cisco Systems, Inc. | 323,742 | 6,435,991 | ||||||
Corning, Inc. | 93,822 | 1,223,439 | ||||||
Dell, Inc. * | 96,423 | 1,668,118 | ||||||
Dolby Laboratories, Inc., Class A * | 3,151 | 119,959 | ||||||
EMC Corp. * | 122,367 | 3,388,342 | ||||||
F5 Networks, Inc. * | 4,977 | 621,926 | ||||||
FLIR Systems, Inc. | 9,489 | 248,327 | ||||||
Harris Corp. | 6,940 | 302,792 | ||||||
Hewlett-Packard Co. | 119,176 | 3,016,345 | ||||||
Ingram Micro, Inc., Class A * | 9,185 | 175,709 | ||||||
JDS Uniphase Corp. * | 13,746 | 179,248 | ||||||
Juniper Networks, Inc. * | 31,659 | 720,559 | ||||||
Motorola Mobility Holdings, Inc. * | 17,645 | 700,506 | ||||||
NCR Corp. * | 9,640 | 209,381 | ||||||
NetApp, Inc. * | 22,122 | 951,246 | ||||||
Polycom, Inc. * | 10,326 | 213,232 | ||||||
QUALCOMM, Inc. | 100,962 | 6,277,817 | ||||||
Riverbed Technology, Inc. * | 9,208 | 262,152 | ||||||
Teradata Corp. * | 10,191 | 678,211 | ||||||
Trimble Navigation Ltd. * | 7,584 | 381,399 | ||||||
Western Digital Corp. * | 13,804 | 541,807 | ||||||
60,419,093 | ||||||||
Telecommunication Services 0.4% | ||||||||
Clearwire Corp., Class A * | 6,776 | 15,585 | ||||||
Crown Castle International Corp. * | 14,596 | 756,219 | ||||||
MetroPCS Communications, Inc. * | 18,908 | 194,753 | ||||||
NII Holdings, Inc. * | 10,148 | 181,446 | ||||||
SBA Communications Corp., Class A * | 6,684 | 313,680 | ||||||
United States Cellular Corp. * | 867 | 37,402 | ||||||
1,499,085 | ||||||||
Transportation 3.1% | ||||||||
C.H. Robinson Worldwide, Inc. | 9,837 | 650,914 | ||||||
CSX Corp. | 62,969 | 1,322,979 | ||||||
Delta Air Lines, Inc. * | 50,691 | 497,279 | ||||||
Expeditors International of Washington, Inc. | 13,035 | 568,717 | ||||||
FedEx Corp. | 17,631 | 1,586,614 | ||||||
Hertz Global Holdings, Inc. * | 14,171 | 202,645 | ||||||
J.B. Hunt Transport Services, Inc. | 5,801 | 297,069 | ||||||
Kansas City Southern * | 6,636 | 461,733 | ||||||
Southwest Airlines Co. | 46,701 | 419,375 | ||||||
Union Pacific Corp. | 29,151 | 3,213,898 | ||||||
United Parcel Service, Inc., Class B | 41,712 | 3,207,235 | ||||||
12,428,458 | ||||||||
Utilities 0.6% | ||||||||
Calpine Corp. * | 23,098 | 353,630 | ||||||
EQT Corp. | 8,931 | 473,521 | ||||||
ITC Holdings Corp. | 3,318 | 250,443 | ||||||
NRG Energy, Inc. * | 14,801 | 253,097 | ||||||
ONEOK, Inc. | 5,925 | 489,642 | ||||||
The AES Corp. * | 46,162 | 625,957 | ||||||
2,446,290 | ||||||||
Total Common Stock | ||||||||
(Cost $350,377,717) | 394,269,513 | |||||||
Other Investment Company 0.1% of net assets | ||||||||
Money Market Fund 0.1% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 208,246 | 208,246 | ||||||
Total Other Investment Company | ||||||||
(Cost $208,246) | 208,246 | |||||||
End of Investments | ||||||||
Collateral Invested for Securities on Loan 0.2% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 876,527 | 876,527 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $876,527) | 876,527 | |||||||
End of Collateral Invested for Securities on Loan |
At 2/29/12, the tax basis cost of the fund’s investments was $350,806,215 and the unrealized appreciation and depreciation were $55,197,226 and ($11,525,682), respectively, with a net unrealized appreciation of $43,671,544.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Issuer is affiliated with the fund’s adviser. |
50 See financial notes
Schwab U.S. Large-Cap Growth ETF
Portfolio Holdings (Unaudited) continued
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $394,269,513 | $— | $— | $394,269,513 | ||||||||||||
Other Investment Company(a) | 208,246 | — | — | 208,246 | ||||||||||||
Total | $394,477,759 | $— | $— | $394,477,759 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $876,527 | $— | $— | $876,527 |
(a) | As categorized in Portfolio Holdings. |
There were no significant transfers between Level 1, Level 2 and Level 3 for the period ended February 29, 2012.
See financial notes 51
Schwab U.S. Large-Cap Growth ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $349,572,529) including securities on loan of $896,096 | $393,620,600 | |||||
Investment in affiliated issuer, at value (cost $1,013,434) | $857,159 | |||||
Collateral invested for securities on loan | 876,527 | |||||
Receivables: | ||||||
Dividends | 454,426 | |||||
Income from securities on loan | + | 4,522 | ||||
Total assets | 395,813,234 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 876,527 | |||||
Payables: | ||||||
Investment adviser fees | + | 4,221 | ||||
Total liabilities | 880,748 | |||||
Net Assets | ||||||
Total assets | 395,813,234 | |||||
Total liabilities | − | 880,748 | ||||
Net assets | $394,932,486 | |||||
Net Assets by Source | ||||||
Capital received from investors | 346,493,793 | |||||
Net investment income not yet distributed | 630,887 | |||||
Net realized capital gains | 3,904,992 | |||||
Net unrealized capital gains | 43,902,814 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$394,932,486 | 11,850,001 | $33.33 |
52 See financial notes
Schwab U.S. Large-Cap Growth ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (including $7,067 from affiliated issuer and net of foreign withholding tax of $13,206) | $2,137,133 | |||||
Interest | 98 | |||||
Securities on loan | + | 18,962 | ||||
Total investment income | 2,156,193 | |||||
Expenses | ||||||
Investment adviser fees | 215,554 | |||||
Total expenses | − | 215,554 | ||||
Net investment income | 1,940,639 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments (including $51 gains from affiliated issuer) | (1,678,227 | ) | ||||
Net realized gains on in-kind redemptions | + | 7,514,883 | ||||
Net realized gains | 5,836,656 | |||||
Net unrealized gains on investments (including $95,030 gains from affiliated issuer) | + | 37,788,324 | ||||
Net realized and unrealized gains | 43,624,980 | |||||
Net increase in net assets resulting from operations | $45,565,619 |
See financial notes 53
Schwab U.S. Large-Cap Growth ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $1,940,639 | $2,375,687 | ||||||||
Net realized gains | 5,836,656 | 4,511,853 | ||||||||
Net unrealized gains | + | 37,788,324 | 13,838,390 | |||||||
Net increase in net assets resulting from operations | 45,565,619 | 20,725,930 | ||||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($1,980,565 | ) | ($1,857,920 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 2,550,000 | $77,832,882 | 7,100,000 | $214,473,454 | ||||||||||||||
Shares Redeemed | + | (1,200,000 | ) | (35,640,197 | ) | (1,100,000 | ) | (33,132,421 | ) | |||||||||
Net transactions in fund shares | 1,350,000 | $42,192,685 | 6,000,000 | $181,341,033 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 10,500,001 | $309,154,747 | 4,500,001 | $108,945,704 | ||||||||||||||
Total increase | + | 1,350,000 | 85,777,739 | 6,000,000 | 200,209,043 | |||||||||||||
End of period | 11,850,001 | $394,932,486 | 10,500,001 | $309,154,747 | ||||||||||||||
Net investment income not yet distributed | $630,887 | $670,813 |
54 See financial notes
Schwab U.S. Large-Cap Value ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 12/9/091– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 27.34 | 24.36 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.41 | 0.70 | 0.47 | |||||||||||
Net realized and unrealized gains (losses) | 2.97 | 2.99 | (0.78 | ) | ||||||||||
Total from investment operations | 3.38 | 3.69 | (0.31 | ) | ||||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.39 | ) | (0.71 | ) | (0.33 | ) | ||||||||
Net asset value at end of period | 30.33 | 27.34 | 24.36 | |||||||||||
Total return (%) | 12.55 | 2 | 15.12 | (1.29 | )2 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.13 | 3 | 0.13 | 0.14 | 3,4 | |||||||||
Gross operating expenses | 0.13 | 3 | 0.13 | 0.14 | 3 | |||||||||
Net investment income (loss) | 3.04 | 3 | 2.68 | 2.98 | 3 | |||||||||
Portfolio turnover rate5 | 5 | 2 | 7 | 5 | 2 | |||||||||
Net assets, end of period ($ x 1,000) | 306,324 | 241,994 | 84,052 |
* Unaudited.
1 Commencement of operations.
2 Not annualized.
3 Annualized.
4 Effective June 14, 2010, the annual operating expense was reduced. The ratio presented for period ended 8/31/10 is a blended rate.
5 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes 55
Schwab U.S. Large-Cap Value ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .7% | Common Stock | 281,111,776 | 305,227,306 | ||||||||
0 | .0% | Rights | — | — | ||||||||
0 | .0% | Other Investment Company | 107,655 | 107,655 | ||||||||
99 | .7% | Total Investments | 281,219,431 | 305,334,961 | ||||||||
0 | .0% | Collateral Invested for Securities on Loan | 88,713 | 88,713 | ||||||||
0 | .3% | Other Assets and Liabilities, Net | 900,325 | |||||||||
100 | .0% | Net Assets | 306,323,999 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.7% of net assets | ||||||||
Automobiles & Components 1.2% | ||||||||
Ford Motor Co. | 169,074 | 2,093,136 | ||||||
General Motors Co. * | 25,654 | 667,517 | ||||||
Harley-Davidson, Inc. | 10,504 | 489,276 | ||||||
Lear Corp. | 4,646 | 210,046 | ||||||
TRW Automotive Holdings Corp. * | 4,646 | 212,508 | ||||||
3,672,483 | ||||||||
Banks 4.7% | ||||||||
BB&T Corp. | 30,718 | 898,502 | ||||||
BOK Financial Corp. | 1,163 | 62,430 | ||||||
City National Corp. | 2,222 | 104,434 | ||||||
Comerica, Inc. | 8,888 | 263,885 | ||||||
Commerce Bancshares, Inc. | 3,636 | 140,386 | ||||||
Cullen/Frost Bankers, Inc. | 2,626 | 148,316 | ||||||
First Republic Bank * | 3,466 | 103,945 | ||||||
Huntington Bancshares, Inc. | 38,178 | 223,150 | ||||||
KeyCorp | 42,438 | 343,748 | ||||||
M&T Bank Corp. | 5,656 | 461,643 | ||||||
New York Community Bancorp, Inc. | 19,464 | 253,227 | ||||||
People’s United Financial, Inc. | 16,023 | 201,729 | ||||||
PNC Financial Services Group, Inc. | 23,432 | 1,394,673 | ||||||
Regions Financial Corp. | 55,613 | 320,331 | ||||||
TFS Financial Corp. * | 4,444 | 41,551 | ||||||
U.S. Bancorp | 85,244 | 2,506,174 | ||||||
Wells Fargo & Co. | 222,806 | 6,971,600 | ||||||
14,439,724 | ||||||||
Capital Goods 8.0% | ||||||||
3M Co. | 28,684 | 2,512,718 | ||||||
Eaton Corp. | 14,955 | 780,501 | ||||||
Fortune Brands Home & Security, Inc. * | 6,681 | 129,211 | ||||||
General Dynamics Corp. | 13,332 | 976,302 | ||||||
General Electric Co. | 471,872 | 8,989,162 | ||||||
Honeywell International, Inc. | 31,916 | 1,901,236 | ||||||
Hubbell, Inc., Class B | 2,626 | 197,528 | ||||||
Ingersoll-Rand plc | 13,865 | 552,936 | ||||||
L-3 Communications Holdings, Inc. | 4,848 | 340,572 | ||||||
Lockheed Martin Corp. | 11,514 | 1,017,953 | ||||||
Masco Corp. | 16,021 | 190,329 | ||||||
Northrop Grumman Corp. | 10,908 | 652,407 | ||||||
Owens Corning, Inc. * | 5,080 | 160,782 | ||||||
Parker Hannifin Corp. | 6,716 | 603,164 | ||||||
Pentair, Inc. | 4,447 | 171,210 | ||||||
Raytheon Co. | 15,378 | 776,897 | ||||||
Rockwell Automation, Inc. | 6,464 | 516,991 | ||||||
Tyco International Ltd. | 20,806 | 1,078,167 | ||||||
United Technologies Corp. | 35,350 | 2,964,804 | ||||||
24,512,870 | ||||||||
Commercial & Professional Services 0.6% | ||||||||
Avery Dennison Corp. | 4,848 | 147,864 | ||||||
Cintas Corp. | 5,050 | 194,728 | ||||||
Covanta Holding Corp. | 5,454 | 89,064 | ||||||
Iron Mountain, Inc. | 7,528 | 233,744 | ||||||
Pitney Bowes, Inc. | 8,302 | 150,515 | ||||||
R.R. Donnelley & Sons Co. (a) | 8,484 | 117,249 | ||||||
Republic Services, Inc. | 13,479 | 402,079 | ||||||
Waste Management, Inc. | 17,795 | 622,469 | ||||||
1,957,712 | ||||||||
Consumer Durables & Apparel 0.9% | ||||||||
D.R. Horton, Inc. | 12,322 | 176,698 | ||||||
Garmin Ltd. (a) | 5,470 | 258,129 | ||||||
Hasbro, Inc. | 5,454 | 192,635 | ||||||
Leggett & Platt, Inc. | 6,464 | 146,280 | ||||||
Lennar Corp., Class A | 7,328 | 171,329 | ||||||
Mattel, Inc. | 15,150 | 491,466 | ||||||
Newell Rubbermaid, Inc. | 12,963 | 237,223 | ||||||
Toll Brothers, Inc. * | 6,630 | 155,540 | ||||||
Tupperware Brands Corp. | 2,629 | 164,812 | ||||||
VF Corp. | 3,838 | 560,540 | ||||||
Whirlpool Corp. | 3,439 | 259,885 | ||||||
2,814,537 | ||||||||
Consumer Services 2.0% | ||||||||
Carnival Corp. | 17,813 | 539,556 | ||||||
H&R Block, Inc. | 13,534 | 220,604 | ||||||
International Game Technology | 13,332 | 200,247 | ||||||
McDonald’s Corp. | 46,056 | 4,572,440 | ||||||
Royal Caribbean Cruises Ltd. | 6,060 | 172,649 | ||||||
Wyndham Worldwide Corp. | 6,868 | 302,123 | ||||||
6,007,619 | ||||||||
Diversified Financials 8.8% | ||||||||
American Express Co. | 45,854 | 2,425,218 | ||||||
Ameriprise Financial, Inc. | 10,100 | 563,176 |
56 See financial notes
Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Bank of America Corp. | 449,248 | 3,580,507 | ||||||
Capital One Financial Corp. | 20,402 | 1,032,341 | ||||||
CIT Group, Inc. * | 8,919 | 363,092 | ||||||
Citigroup, Inc. | 129,280 | 4,307,610 | ||||||
CME Group, Inc. | 2,836 | 820,994 | ||||||
Eaton Vance Corp. | 5,454 | 157,130 | ||||||
Invesco Ltd. | 19,796 | 490,347 | ||||||
Jefferies Group, Inc. | 6,308 | 105,470 | ||||||
JPMorgan Chase & Co. | 169,478 | 6,650,317 | ||||||
Legg Mason, Inc. | 6,060 | 165,983 | ||||||
LPL Investment Holdings, Inc. * | 1,818 | 61,994 | ||||||
Morgan Stanley | 59,299 | 1,099,403 | ||||||
Northern Trust Corp. | 9,696 | 430,599 | ||||||
NYSE Euronext | 11,514 | 342,772 | ||||||
Raymond James Financial, Inc. | 4,445 | 157,220 | ||||||
SEI Investments Co. | 6,467 | 127,723 | ||||||
SLM Corp. | 22,826 | 359,738 | ||||||
TD Ameritrade Holding Corp. | 10,100 | 188,567 | ||||||
The Bank of New York Mellon Corp. | 55,092 | 1,218,084 | ||||||
The Goldman Sachs Group, Inc. | 18,988 | 2,186,278 | ||||||
26,834,563 | ||||||||
Energy 13.5% | ||||||||
Apache Corp. | 17,170 | 1,853,158 | ||||||
Chesapeake Energy Corp. | 29,256 | 731,400 | ||||||
Chevron Corp. | 89,688 | 9,786,755 | ||||||
ConocoPhillips | 55,146 | 4,221,426 | ||||||
Devon Energy Corp. | 17,574 | 1,288,350 | ||||||
El Paso Corp. | 34,138 | 949,378 | ||||||
EXCO Resources, Inc. (a) | 6,868 | 48,969 | ||||||
Exxon Mobil Corp. | 214,120 | 18,521,380 | ||||||
Forest Oil Corp. * | 5,086 | 65,762 | ||||||
Marathon Oil Corp. | 31,551 | 1,069,263 | ||||||
Southern Union Co. | 5,252 | 230,773 | ||||||
Spectra Energy Corp. | 28,886 | 906,443 | ||||||
The Williams Cos., Inc. | 25,856 | 772,577 | ||||||
Tidewater, Inc. | 2,222 | 132,209 | ||||||
Valero Energy Corp. | 25,250 | 618,372 | ||||||
WPX Energy, Inc. * | 8,605 | 156,267 | ||||||
41,352,482 | ||||||||
Food & Staples Retailing 0.6% | ||||||||
Safeway, Inc. | 15,362 | 329,515 | ||||||
Sysco Corp. | 26,462 | 778,512 | ||||||
The Kroger Co. | 24,846 | 591,086 | ||||||
1,699,113 | ||||||||
Food, Beverage & Tobacco 8.7% | ||||||||
Altria Group, Inc. | 92,920 | 2,796,892 | ||||||
Archer-Daniels-Midland Co. | 27,270 | 850,824 | ||||||
Beam, Inc. | 6,807 | 374,930 | ||||||
Campbell Soup Co. | 8,888 | 296,148 | ||||||
Coca-Cola Enterprises, Inc. | 13,851 | 400,294 | ||||||
ConAgra Foods, Inc. | 18,382 | 482,527 | ||||||
Constellation Brands, Inc., Class A * | 8,484 | 185,291 | ||||||
Corn Products International, Inc. | 3,434 | 196,940 | ||||||
Dr. Pepper Snapple Group, Inc. | 9,519 | 362,198 | ||||||
General Mills, Inc. | 26,866 | 1,029,236 | ||||||
H.J. Heinz Co. | 14,342 | 755,967 | ||||||
Hormel Foods Corp. | 6,464 | 184,030 | ||||||
Kellogg Co. | 10,908 | 571,034 | ||||||
Kraft Foods, Inc., Class A | 73,326 | 2,791,521 | ||||||
McCormick & Co., Inc. | 5,871 | 296,192 | ||||||
Molson Coors Brewing Co., Class B | 6,889 | 302,703 | ||||||
Philip Morris International, Inc. | 78,376 | 6,545,963 | ||||||
Reynolds American, Inc. | 14,948 | 626,770 | ||||||
Smithfield Foods, Inc. * | 6,868 | 160,917 | ||||||
The Coca-Cola Co. | 93,122 | 6,505,503 | ||||||
The Hershey Co. | 7,070 | 429,149 | ||||||
The J.M. Smucker Co. | 5,050 | 380,366 | ||||||
Tyson Foods, Inc., Class A | 12,928 | 244,468 | ||||||
26,769,863 | ||||||||
Health Care Equipment & Services 1.1% | ||||||||
Boston Scientific Corp. * | 65,823 | 409,419 | ||||||
Cardinal Health, Inc. | 15,352 | 637,876 | ||||||
CIGNA Corp. | 12,726 | 561,344 | ||||||
Humana, Inc. | 7,272 | 633,391 | ||||||
Omnicare, Inc. | 5,078 | 178,644 | ||||||
WellPoint, Inc. | 15,554 | 1,020,809 | ||||||
3,441,483 | ||||||||
Household & Personal Products 3.4% | ||||||||
Avon Products, Inc. | 19,190 | 358,661 | ||||||
Kimberly-Clark Corp. | 17,446 | 1,271,465 | ||||||
The Clorox Co. | 5,918 | 400,116 | ||||||
The Procter & Gamble Co. | 122,816 | 8,292,536 | ||||||
10,322,778 | ||||||||
Insurance 4.9% | ||||||||
ACE Ltd. | 15,150 | 1,086,406 | ||||||
Aflac, Inc. | 21,210 | 1,002,172 | ||||||
Allied World Assurance Co. Holdings AG | 1,621 | 106,937 | ||||||
American Financial Group, Inc. | 3,859 | 144,520 | ||||||
American International Group, Inc. * | 19,190 | 560,732 | ||||||
Aon Corp. | 14,544 | 680,805 | ||||||
Arch Capital Group Ltd. * | 5,886 | 218,076 | ||||||
Assurant, Inc. | 4,242 | 180,158 | ||||||
Assured Guaranty Ltd. | 7,752 | 130,234 | ||||||
Axis Capital Holdings Ltd. | 5,858 | 180,719 | ||||||
Brown & Brown, Inc. | 5,252 | 124,105 | ||||||
Cincinnati Financial Corp. | 6,667 | 234,478 | ||||||
CNA Financial Corp. | 1,414 | 39,889 | ||||||
Everest Re Group Ltd. | 2,020 | 177,457 | ||||||
Fidelity National Financial, Inc., Class A | 9,736 | 168,043 | ||||||
Genworth Financial, Inc., Class A * | 21,836 | 198,489 | ||||||
Hartford Financial Services Group, Inc. | 19,594 | 405,792 | ||||||
HCC Insurance Holdings, Inc. | 5,050 | 154,227 | ||||||
Lincoln National Corp. | 13,535 | 336,209 | ||||||
Loews Corp. | 15,352 | 600,877 | ||||||
Marsh & McLennan Cos., Inc. | 24,038 | 749,986 | ||||||
MetLife, Inc. | 36,562 | 1,409,465 | ||||||
Old Republic International Corp. | 11,202 | 121,654 | ||||||
PartnerRe Ltd. | 3,030 | 192,223 | ||||||
Principal Financial Group, Inc. | 13,130 | 363,176 | ||||||
Prudential Financial, Inc. | 21,614 | 1,321,912 |
See financial notes 57
Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Reinsurance Group of America, Inc. | 3,274 | 188,812 | ||||||
The Allstate Corp. | 21,115 | 663,644 | ||||||
The Chubb Corp. | 12,354 | 839,578 | ||||||
The Travelers Cos., Inc. | 18,382 | 1,065,605 | ||||||
Torchmark Corp. | 4,668 | 226,118 | ||||||
Transatlantic Holdings, Inc. | 2,828 | 171,377 | ||||||
Unum Group | 12,989 | 299,396 | ||||||
Validus Holdings Ltd. | 3,232 | 98,544 | ||||||
W.R. Berkley Corp. | 4,982 | 178,107 | ||||||
XL Group plc | 14,221 | 295,797 | ||||||
14,915,719 | ||||||||
Materials 2.9% | ||||||||
Air Products & Chemicals, Inc. | 8,888 | 802,053 | ||||||
Bemis Co., Inc. | 4,646 | 145,745 | ||||||
Celanese Corp., Series A | 6,872 | 326,901 | ||||||
E.I. du Pont de Nemours & Co. | 41,612 | 2,115,970 | ||||||
Eastman Chemical Co. | 5,747 | 311,085 | ||||||
International Flavors & Fragrances, Inc. | 3,636 | 207,361 | ||||||
International Paper Co. | 17,978 | 631,927 | ||||||
MeadWestvaco Corp. | 7,676 | 232,429 | ||||||
Owens-Illinois, Inc. * | 7,474 | 178,629 | ||||||
PPG Industries, Inc. | 7,070 | 645,138 | ||||||
Sealed Air Corp. | 8,484 | 166,541 | ||||||
Sonoco Products Co. | 4,447 | 146,040 | ||||||
Southern Copper Corp. | 7,757 | 249,475 | ||||||
The Dow Chemical Co. | 52,924 | 1,773,483 | ||||||
The Valspar Corp. | 3,838 | 177,891 | ||||||
Titanium Metals Corp. | 3,646 | 53,450 | ||||||
Vulcan Materials Co. | 5,257 | 234,252 | ||||||
Weyerhaeuser Co. | 23,836 | 497,934 | ||||||
8,896,304 | ||||||||
Media 3.1% | ||||||||
Cablevision Systems Corp., Class A | 10,504 | 149,472 | ||||||
CBS Corp., Class B | 27,876 | 833,492 | ||||||
Gannett Co., Inc. | 10,998 | 163,210 | ||||||
News Corp., Class A | 103,424 | 2,055,035 | ||||||
Omnicom Group, Inc. | 12,322 | 609,200 | ||||||
The Interpublic Group of Cos., Inc. | 20,487 | 240,108 | ||||||
The McGraw-Hill Cos., Inc. | 13,026 | 606,230 | ||||||
The Walt Disney Co. | 76,962 | 3,231,634 | ||||||
Time Warner, Inc. | 44,484 | 1,655,250 | ||||||
9,543,631 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 9.4% | ||||||||
Abbott Laboratories | 69,488 | 3,933,716 | ||||||
Bristol-Myers Squibb Co. | 76,558 | 2,462,871 | ||||||
Eli Lilly & Co. | 43,632 | 1,712,120 | ||||||
Forest Laboratories, Inc. * | 11,312 | 367,866 | ||||||
Johnson & Johnson | 122,008 | 7,940,281 | ||||||
Merck & Co., Inc. | 136,956 | 5,227,610 | ||||||
Pfizer, Inc. | 343,602 | 7,250,002 | ||||||
28,894,466 | ||||||||
Real Estate 2.8% | ||||||||
American Capital Agency Corp. | 9,696 | 297,764 | ||||||
Annaly Capital Management, Inc. | 43,228 | 718,449 | ||||||
BRE Properties, Inc. | 3,434 | 166,309 | ||||||
Brookfield Office Properties, Inc. | 11,514 | 200,919 | ||||||
Camden Property Trust | 3,232 | 200,384 | ||||||
Chimera Investment Corp. | 44,688 | 137,192 | ||||||
DDR Corp. | 10,100 | 142,713 | ||||||
Equity Residential | 13,130 | 746,966 | ||||||
General Growth Properties, Inc. | 17,074 | 277,794 | ||||||
HCP, Inc. | 18,180 | 718,110 | ||||||
Health Care REIT, Inc. | 8,484 | 461,869 | ||||||
Host Hotels & Resorts, Inc. | 31,363 | 494,908 | ||||||
Kimco Realty Corp. | 18,180 | 334,149 | ||||||
Liberty Property Trust | 5,071 | 172,008 | ||||||
Piedmont Office Realty Trust, Inc., Class A | 7,694 | 135,568 | ||||||
Plum Creek Timber Co., Inc. | 7,272 | 284,772 | ||||||
ProLogis, Inc. | 20,402 | 686,731 | ||||||
Rayonier, Inc. | 5,454 | 242,812 | ||||||
Realty Income Corp. | 5,908 | 217,946 | ||||||
Regency Centers Corp. | 4,040 | 172,872 | ||||||
Rouse Properties, Inc. * | 638 | 9,334 | ||||||
UDR, Inc. | 9,898 | 247,648 | ||||||
Ventas, Inc. | 12,928 | 722,934 | ||||||
Vornado Realty Trust | 8,282 | 676,888 | ||||||
8,467,039 | ||||||||
Retailing 2.2% | ||||||||
Abercrombie & Fitch Co., Class A | 3,911 | 179,085 | ||||||
American Eagle Outfitters, Inc. | 8,490 | 123,445 | ||||||
AutoNation, Inc. * | 1,542 | 52,551 | ||||||
Expedia, Inc. | 4,444 | 151,318 | ||||||
Genuine Parts Co. | 7,070 | 443,148 | ||||||
J.C. Penney Co., Inc. | 6,666 | 263,974 | ||||||
Limited Brands, Inc. | 11,314 | 526,440 | ||||||
Macy’s, Inc. | 18,988 | 720,974 | ||||||
Staples, Inc. | 31,512 | 461,966 | ||||||
The Gap, Inc. | 11,341 | 264,926 | ||||||
The Home Depot, Inc. | 68,680 | 3,267,107 | ||||||
TripAdvisor, Inc. * | 4,444 | 143,230 | ||||||
6,598,164 | ||||||||
Semiconductors & Semiconductor Equipment 3.6% | ||||||||
Advanced Micro Devices, Inc. * | 24,867 | 182,772 | ||||||
Analog Devices, Inc. | 13,130 | 514,827 | ||||||
Applied Materials, Inc. | 58,689 | 718,353 | ||||||
Intel Corp. | 226,846 | 6,097,621 | ||||||
KLA-Tencor Corp. | 7,474 | 361,742 | ||||||
Linear Technology Corp. | 9,494 | 317,859 | ||||||
LSI Corp. * | 24,851 | 213,719 | ||||||
Maxim Integrated Products, Inc. | 13,130 | 366,196 | ||||||
Microchip Technology, Inc. | 8,484 | 306,018 | ||||||
Micron Technology, Inc. * | 38,380 | 328,149 | ||||||
Texas Instruments, Inc. | 50,764 | 1,692,979 | ||||||
11,100,235 | ||||||||
Software & Services 0.9% | ||||||||
Computer Sciences Corp. | 6,868 | 218,128 | ||||||
Paychex, Inc. | 14,544 | 455,227 | ||||||
SAIC, Inc. * | 15,156 | 185,206 | ||||||
Synopsys, Inc. * | 6,464 | 196,958 |
58 See financial notes
Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Total System Services, Inc. | 8,686 | 190,050 | ||||||
VeriSign, Inc. | 7,071 | 261,273 | ||||||
Western Union Co. | 27,508 | 480,565 | ||||||
Yahoo!, Inc. * | 52,924 | 784,863 | ||||||
2,772,270 | ||||||||
Technology Hardware & Equipment 4.5% | ||||||||
Avnet, Inc. * | 6,580 | 235,169 | ||||||
International Business Machines Corp. | 52,722 | 10,371,999 | ||||||
Jabil Circuit, Inc. | 8,701 | 224,747 | ||||||
Molex, Inc. | 6,666 | 180,649 | ||||||
Motorola Solutions, Inc. | 12,735 | 634,203 | ||||||
SanDisk Corp. * | 10,504 | 519,528 | ||||||
Seagate Technology plc | 18,630 | 489,224 | ||||||
TE Connectivity Ltd. | 19,190 | 701,394 | ||||||
Xerox Corp. | 61,633 | 507,239 | ||||||
13,864,152 | ||||||||
Telecommunication Services 4.9% | ||||||||
AT&T, Inc. | 264,822 | 8,100,905 | ||||||
CenturyLink, Inc. | 27,270 | 1,097,617 | ||||||
Frontier Communications Corp. (a) | 44,305 | 203,360 | ||||||
Sprint Nextel Corp. * | 131,255 | 324,200 | ||||||
Telephone & Data Systems, Inc. | 4,607 | 116,419 | ||||||
Verizon Communications, Inc. | 126,856 | 4,834,482 | ||||||
Windstream Corp. | 25,452 | 307,460 | ||||||
14,984,443 | ||||||||
Transportation 0.5% | ||||||||
Norfolk Southern Corp. | 15,150 | 1,043,835 | ||||||
United Continental Holdings, Inc. * | 14,746 | 304,505 | ||||||
1,348,340 | ||||||||
Utilities 6.5% | ||||||||
AGL Resources, Inc. | 5,050 | 201,344 | ||||||
Alliant Energy Corp. | 4,848 | 206,719 | ||||||
Ameren Corp. | 10,706 | 343,341 | ||||||
American Electric Power Co., Inc. | 21,412 | 805,305 | ||||||
American Water Works Co., Inc. | 7,878 | 270,058 | ||||||
Aqua America, Inc. | 6,288 | 139,657 | ||||||
Atmos Energy Corp. | 3,838 | 117,942 | ||||||
CenterPoint Energy, Inc. | 17,574 | 342,517 | ||||||
CMS Energy Corp. | 11,312 | 242,190 | ||||||
Consolidated Edison, Inc. | 13,130 | 762,853 | ||||||
Constellation Energy Group, Inc. | 7,878 | 285,656 | ||||||
Dominion Resources, Inc. | 25,452 | 1,284,562 | ||||||
DTE Energy Co. | 7,491 | 404,439 | ||||||
Duke Energy Corp. | 58,587 | 1,225,640 | ||||||
Edison International | 13,332 | 558,211 | ||||||
Energen Corp. | 3,232 | 172,039 | ||||||
Entergy Corp. | 7,878 | 524,911 | ||||||
Exelon Corp. | 29,318 | 1,145,454 | ||||||
FirstEnergy Corp. | 18,584 | 823,085 | ||||||
Integrys Energy Group, Inc. | 3,439 | 178,931 | ||||||
MDU Resources Group, Inc. | 7,878 | 170,953 | ||||||
National Fuel Gas Co. | 3,458 | 174,041 | ||||||
NextEra Energy, Inc. | 18,786 | 1,117,955 | ||||||
NiSource, Inc. | 12,524 | 300,576 | ||||||
Northeast Utilities | 7,686 | 275,927 | ||||||
NSTAR | 4,646 | 217,897 | ||||||
NV Energy, Inc. | 10,504 | 164,703 | ||||||
OGE Energy Corp. | 4,309 | 226,136 | ||||||
Pepco Holdings, Inc. | 10,109 | 196,519 | ||||||
PG&E Corp. | 17,978 | 749,323 | ||||||
Pinnacle West Capital Corp. | 4,848 | 228,001 | ||||||
PPL Corp. | 25,654 | 732,422 | ||||||
Progress Energy, Inc. | 12,928 | 686,218 | ||||||
Public Service Enterprise Group, Inc. | 22,624 | 696,367 | ||||||
Questar Corp. | 7,945 | 152,703 | ||||||
SCANA Corp. | 5,252 | 236,340 | ||||||
Sempra Energy | 9,898 | 586,358 | ||||||
TECO Energy, Inc. | 9,090 | 163,166 | ||||||
The Southern Co. | 38,380 | 1,696,012 | ||||||
UGI Corp. | 5,050 | 142,663 | ||||||
Westar Energy, Inc. | 5,252 | 144,535 | ||||||
Wisconsin Energy Corp. | 10,302 | 351,092 | ||||||
Xcel Energy, Inc. | 21,614 | 572,555 | ||||||
20,017,316 | ||||||||
Total Common Stock | ||||||||
(Cost $281,111,776) | 305,227,306 | |||||||
Rights 0.0% of net assets | ||||||||
Real Estate 0.0% | ||||||||
Rouse Properties, Inc. *(b)(c) | 626 | — | ||||||
Total Rights | ||||||||
(Cost $—) | — | |||||||
Other Investment Company 0.0% of net assets | ||||||||
Money Market Fund 0.0% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 107,655 | 107,655 | ||||||
Total Other Investment Company | ||||||||
(Cost $107,655) | 107,655 | |||||||
End of Investments | ||||||||
Collateral Invested for Securities on Loan 0.0% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 88,713 | 88,713 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $88,713) | 88,713 | |||||||
End of Collateral Invested for Securities on Loan |
See financial notes 59
Schwab U.S. Large-Cap Value ETF
Portfolio Holdings (Unaudited) continued
At 2/29/12, the tax basis cost of the fund’s investments was $281,504,877 and the unrealized appreciation and depreciation were $30,967,482 and ($7,137,398), respectively, with a net unrealized appreciation $23,830,084.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. | |
(c) | Illiquid security. At the period end, the value of these amounted to $0 or 0% of net assets. |
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $305,227,306 | $— | $— | $305,227,306 | ||||||||||||
Rights(a) | — | — | — | — | ||||||||||||
Other Investment Company(a) | 107,655 | — | — | 107,655 | ||||||||||||
Total | $305,334,961 | $— | $— | $305,334,961 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $88,713 | $— | $— | $88,713 |
(a) | As categorized in Portfolio Holdings. |
There were no significant transfers between Level 1, Level 2 and Level 3 for the period ended February 29, 2012.
60 See financial notes
Schwab U.S. Large-Cap Value ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $281,219,431) including securities on loan of $185,486 | $305,334,961 | |||||
Collateral invested for securities on loan | 88,713 | |||||
Receivables: | ||||||
Dividends | 991,377 | |||||
Foreign tax reclaims | 691 | |||||
Income from securities on loan | + | 238 | ||||
Total assets | 306,415,980 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 88,713 | |||||
Payables: | ||||||
Investment adviser fees | + | 3,268 | ||||
Total liabilities | 91,981 | |||||
Net Assets | ||||||
Total assets | 306,415,980 | |||||
Total liabilities | − | 91,981 | ||||
Net assets | $306,323,999 | |||||
Net Assets by Source | ||||||
Capital received from investors | 280,038,845 | |||||
Net investment income not yet distributed | 1,515,917 | |||||
Net realized capital gains | 620,479 | |||||
Net unrealized capital gains | 24,148,758 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$306,323,999 | 10,100,001 | $30.33 |
See financial notes 61
Schwab U.S. Large-Cap Value ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (net of foreign withholding tax of $1,576) | $4,032,376 | |||||
Interest | 99 | |||||
Securities on loan | + | 1,491 | ||||
Total investment income | 4,033,966 | |||||
Expenses | ||||||
Investment adviser fees | 165,649 | |||||
Total expenses | − | 165,649 | ||||
Net investment income | 3,868,317 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments | (1,727,435 | ) | ||||
Net realized gains on in-kind redemptions | + | 3,030,772 | ||||
Net realized gains | 1,303,337 | |||||
Net unrealized gains on investments | + | 25,952,468 | ||||
Net realized and unrealized gains | 27,255,805 | |||||
Net increase in net assets resulting from operations | $31,124,122 |
62 See financial notes
Schwab U.S. Large-Cap Value ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $3,868,317 | $4,681,204 | ||||||||
Net realized gains | 1,303,337 | 599,859 | ||||||||
Net unrealized gains | + | 25,952,468 | 2,436,722 | |||||||
Net increase in net assets resulting from operations | 31,124,122 | 7,717,785 | ||||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($3,499,291 | ) | ($4,010,596 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 2,050,000 | $58,360,750 | 5,800,000 | $165,268,749 | ||||||||||||||
Shares Redeemed | + | (800,000 | ) | (21,655,415 | ) | (400,000 | ) | (11,034,472 | ) | |||||||||
Net transactions in fund shares | 1,250,000 | $36,705,335 | 5,400,000 | $154,234,277 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 8,850,001 | $241,993,833 | 3,450,001 | $84,052,367 | ||||||||||||||
Total increase | + | 1,250,000 | 64,330,166 | 5,400,000 | 157,941,466 | |||||||||||||
End of period | 10,100,001 | $306,323,999 | 8,850,001 | $241,993,833 | ||||||||||||||
Net investment income not yet distributed | $1,515,917 | $1,146,891 |
See financial notes 63
Schwab U.S. Mid-Cap ETF™
Financial Statements
Financial Highlights
9/1/11– | 1/12/111– | |||||||||
2/29/12* | 8/31/11 | |||||||||
Per-Share Data ($) | ||||||||||
Net asset value at beginning of period | 23.75 | 25.00 | ||||||||
Income (loss) from investment operations: | ||||||||||
Net investment income (loss) | 0.16 | 0.18 | ||||||||
Net realized and unrealized gains (losses) | 3.14 | (1.29 | ) | |||||||
Total from investment operations | 3.30 | (1.11 | ) | |||||||
Less distributions: | ||||||||||
Distributions from net investment income | (0.15 | ) | (0.14 | ) | ||||||
Net asset value at end of period | 26.90 | 23.75 | ||||||||
Total return (%) | 13.99 | 2 | (4.49 | )2 | ||||||
Ratios/Supplemental Data (%) | ||||||||||
Ratios to average net assets: | ||||||||||
Net operating expenses | 0.13 | 3 | 0.13 | 3 | ||||||
Gross operating expenses | 0.13 | 3 | 0.13 | 3 | ||||||
Net investment income (loss) | 1.46 | 3 | 1.18 | 3 | ||||||
Portfolio turnover rate4 | 8 | 2 | 9 | 2 | ||||||
Net assets, end of period ($ x 1,000) | 197,731 | 79,550 |
* Unaudited.
1 Commencement of operations.
2 Not annualized.
3 Annualized.
4 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
64 See financial notes
Schwab U.S. Mid-Cap ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .9% | Common Stock | 189,631,768 | 197,473,843 | ||||||||
0 | .0% | Other Investment Company | 63,088 | 63,088 | ||||||||
99 | .9% | Total Investments | 189,694,856 | 197,536,931 | ||||||||
1 | .1% | Collateral Invested for Securities on Loan | 2,177,289 | 2,177,289 | ||||||||
(1 | .0)% | Other Assets and Liabilities, Net | (1,982,992 | ) | ||||||||
100 | .0% | Net Assets | 197,731,228 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.9% of net assets | ||||||||
Automobiles & Components 1.4% | ||||||||
Gentex Corp. | 16,758 | 396,327 | ||||||
Lear Corp. | 12,054 | 544,961 | ||||||
The Goodyear Tire & Rubber Co. * | 28,959 | 372,413 | ||||||
TRW Automotive Holdings Corp. * | 12,201 | 558,074 | ||||||
Visteon Corp. * | 6,027 | 323,770 | ||||||
WABCO Holdings, Inc. * | 8,085 | 480,977 | ||||||
2,676,522 | ||||||||
Banks 3.6% | ||||||||
Associated Banc-Corp | 20,357 | 269,527 | ||||||
Bank of Hawaii Corp. | 5,586 | 256,956 | ||||||
BankUnited, Inc. | 4,704 | 108,333 | ||||||
BOK Financial Corp. | 3,234 | 173,601 | ||||||
Capitol Federal Financial, Inc. | 19,698 | 230,270 | ||||||
City National Corp. | 5,733 | 269,451 | ||||||
Commerce Bancshares, Inc. | 9,563 | 369,227 | ||||||
Cullen/Frost Bankers, Inc. | 6,762 | 381,918 | ||||||
East West Bancorp, Inc. | 17,640 | 390,197 | ||||||
First Citizens BancShares, Inc., Class A | 735 | 129,470 | ||||||
First Horizon National Corp. | 31,017 | 291,560 | ||||||
First Niagara Financial Group, Inc. | 34,692 | 331,655 | ||||||
First Republic Bank * | 9,261 | 277,737 | ||||||
Fulton Financial Corp. | 23,520 | 230,496 | ||||||
Hancock Holding Co. | 9,114 | 309,420 | ||||||
Hudson City Bancorp, Inc. | 57,356 | 392,889 | ||||||
Huntington Bancshares, Inc. | 104,370 | 610,043 | ||||||
People’s United Financial, Inc. | 42,397 | 533,778 | ||||||
Popular, Inc. * | 120,188 | 228,357 | ||||||
Prosperity Bancshares, Inc. | 5,586 | 244,332 | ||||||
TCF Financial Corp. | 17,934 | 193,328 | ||||||
TFS Financial Corp. * | 10,500 | 98,175 | ||||||
Valley National Bancorp | 21,903 | 274,007 | ||||||
Washington Federal, Inc. | 13,083 | 211,945 | ||||||
Zions Bancorp | 21,315 | 404,985 | ||||||
7,211,657 | ||||||||
Capital Goods 10.3% | ||||||||
Acuity Brands, Inc. | 4,998 | 310,826 | ||||||
Aecom Technology Corp. * | 12,936 | 302,056 | ||||||
AGCO Corp. * | 11,319 | 584,400 | ||||||
Air Lease Corp. * | 8,379 | 206,040 | ||||||
Alliant Techsystems, Inc. | 3,969 | 238,140 | ||||||
AMETEK, Inc. | 18,963 | 902,639 | ||||||
Armstrong World Industries, Inc. * | 2,646 | 135,528 | ||||||
BE Aerospace, Inc. * | 11,466 | 525,601 | ||||||
Carlisle Cos., Inc. | 7,203 | 351,506 | ||||||
CLARCOR, Inc. | 6,321 | 319,021 | ||||||
Crane Co. | 6,027 | 292,731 | ||||||
Donaldson Co., Inc. | 8,232 | 604,476 | ||||||
Foster Wheeler AG * | 13,725 | 338,047 | ||||||
Gardner Denver, Inc. | 6,027 | 413,934 | ||||||
Graco, Inc. | 7,203 | 368,650 | ||||||
Harsco Corp. | 9,555 | 212,408 | ||||||
Hubbell, Inc., Class B | 6,615 | 497,580 | ||||||
IDEX Corp. | 9,702 | 405,544 | ||||||
Jacobs Engineering Group, Inc. * | 15,141 | 699,817 | ||||||
KBR, Inc. | 17,640 | 640,685 | ||||||
Kennametal, Inc. | 9,555 | 440,199 | ||||||
Lennox International, Inc. | 5,880 | 230,084 | ||||||
Lincoln Electric Holdings, Inc. | 9,996 | 461,715 | ||||||
Masco Corp. | 42,336 | 502,952 | ||||||
McDermott International, Inc. * | 27,411 | 357,988 | ||||||
MSC Industrial Direct Co., Class A | 5,145 | 408,564 | ||||||
Navistar International Corp. * | 8,526 | 356,216 | ||||||
Nordson Corp. | 7,350 | 404,029 | ||||||
Oshkosh Corp. * | 10,731 | 250,140 | ||||||
Owens Corning, Inc. * | 13,524 | 428,035 | ||||||
Pall Corp. | 13,671 | 867,425 | ||||||
Pentair, Inc. | 11,760 | 452,760 | ||||||
Polypore International, Inc. *(a) | 4,851 | 199,473 | ||||||
Quanta Services, Inc. * | 24,696 | 516,146 | ||||||
Regal-Beloit Corp. | 4,557 | 307,598 | ||||||
Seaboard Corp. * | 36 | 68,872 | ||||||
Snap-On, Inc. | 6,909 | 422,347 | ||||||
Spirit AeroSystems Holdings, Inc., Class A * | 13,671 | 327,557 | ||||||
SPX Corp. | 6,027 | 440,815 | ||||||
Terex Corp. * | 12,936 | 328,445 | ||||||
Textron, Inc. | 32,781 | 901,805 | ||||||
The Babcock & Wilcox Co. * | 13,671 | 351,892 | ||||||
The Shaw Group, Inc. * | 8,529 | 246,829 | ||||||
The Timken Co. | 9,408 | 492,979 | ||||||
Thomas & Betts Corp. * | 6,174 | 445,948 | ||||||
TransDigm Group, Inc. * | 5,439 | 646,099 | ||||||
URS Corp. * | 9,408 | 410,659 | ||||||
Wabtec Corp. | 5,733 | 428,427 | ||||||
Woodward, Inc. | 6,909 | 302,407 | ||||||
20,348,034 |
See financial notes 65
Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Commercial & Professional Services 3.9% | ||||||||
Avery Dennison Corp. | 12,495 | 381,097 | ||||||
Cintas Corp. | 13,230 | 510,149 | ||||||
Clean Harbors, Inc. * | 5,586 | 375,156 | ||||||
Copart, Inc. * | 6,909 | 343,930 | ||||||
Corrections Corp. of America * | 11,674 | 292,550 | ||||||
Covanta Holding Corp. | 13,818 | 225,648 | ||||||
Equifax, Inc. | 14,406 | 605,628 | ||||||
IHS, Inc., Class A * | 5,733 | 542,170 | ||||||
Iron Mountain, Inc. | 20,139 | 625,316 | ||||||
KAR Auction Services, Inc. * | 3,545 | 56,968 | ||||||
Manpower, Inc. | 9,702 | 417,865 | ||||||
Pitney Bowes, Inc. | 22,197 | 402,432 | ||||||
R.R. Donnelley & Sons Co. (a) | 22,050 | 304,731 | ||||||
Robert Half International, Inc. | 17,199 | 488,968 | ||||||
Rollins, Inc. | 8,967 | 181,671 | ||||||
The Dun & Bradstreet Corp. | 5,880 | 485,982 | ||||||
Towers Watson & Co., Class A | 6,321 | 404,165 | ||||||
Verisk Analytics, Inc., Class A * | 16,317 | 709,789 | ||||||
Waste Connections, Inc. | 13,230 | 430,240 | ||||||
7,784,455 | ||||||||
Consumer Durables & Apparel 4.7% | ||||||||
D.R. Horton, Inc. | 32,639 | 468,043 | ||||||
Deckers Outdoor Corp. * | 4,557 | 340,681 | ||||||
Fossil, Inc. * | 6,321 | 771,036 | ||||||
Hanesbrands, Inc. * | 11,466 | 329,418 | ||||||
Harman International Industries, Inc. | 8,232 | 404,438 | ||||||
Jarden Corp. | 10,878 | 383,667 | ||||||
Leggett & Platt, Inc. | 16,905 | 382,560 | ||||||
Lennar Corp., Class A | 18,984 | 443,846 | ||||||
Michael Kors Holdings Ltd. * | 4,851 | 209,806 | ||||||
Mohawk Industries, Inc. * | 6,468 | 410,783 | ||||||
Newell Rubbermaid, Inc. | 34,986 | 640,244 | ||||||
NVR, Inc. * | 588 | 406,896 | ||||||
Polaris Industries, Inc. | 7,644 | 504,963 | ||||||
PulteGroup, Inc. * | 39,690 | 350,066 | ||||||
PVH Corp. | 7,350 | 624,823 | ||||||
Tempur-Pedic International, Inc. * | 7,791 | 615,489 | ||||||
Toll Brothers, Inc. * | 17,787 | 417,283 | ||||||
Tupperware Brands Corp. | 7,203 | 451,556 | ||||||
Under Armour, Inc., Class A * | 4,557 | 406,667 | ||||||
Whirlpool Corp. | 8,967 | 677,636 | ||||||
9,239,901 | ||||||||
Consumer Services 2.9% | ||||||||
Bally Technologies, Inc. * | 4,998 | 214,614 | ||||||
Brinker International, Inc. | 9,450 | 260,726 | ||||||
Choice Hotels International, Inc. | 3,969 | 149,115 | ||||||
DeVry, Inc. | 7,056 | 250,700 | ||||||
Dunkin’ Brands Group, Inc. * | 5,145 | 149,411 | ||||||
Education Management Corp. *(a) | 3,087 | 55,782 | ||||||
H&R Block, Inc. | 37,191 | 606,213 | ||||||
International Game Technology | 35,721 | 536,530 | ||||||
ITT Educational Services, Inc. *(a) | 3,234 | 221,982 | ||||||
MGM Resorts International * | 37,926 | 522,241 | ||||||
Panera Bread Co., Class A * | 3,528 | 545,358 | ||||||
Penn National Gaming, Inc. * | 8,085 | 344,017 | ||||||
Service Corp. International | 26,754 | 303,390 | ||||||
Sotheby’s | 7,938 | 312,281 | ||||||
The Wendy’s Co. | 36,534 | 185,227 | ||||||
Weight Watchers International, Inc. (a) | 3,529 | 275,191 | ||||||
Wyndham Worldwide Corp. | 18,375 | 808,316 | ||||||
5,741,094 | ||||||||
Diversified Financials 2.5% | ||||||||
Affiliated Managers Group, Inc. * | 6,174 | 656,852 | ||||||
CBOE Holdings, Inc. | 10,731 | 295,854 | ||||||
E*TRADE Financial Corp. * | 30,429 | 293,031 | ||||||
Eaton Vance Corp. | 14,112 | 406,567 | ||||||
Federated Investors, Inc., Class B (a) | 12,201 | 249,998 | ||||||
Jefferies Group, Inc. | 17,199 | 287,567 | ||||||
Legg Mason, Inc. | 16,317 | 446,923 | ||||||
LPL Investment Holdings, Inc. * | 4,704 | 160,406 | ||||||
MSCI, Inc., Class A * | 14,112 | 499,283 | ||||||
Raymond James Financial, Inc. | 12,495 | 441,948 | ||||||
SEI Investments Co. | 17,346 | 342,584 | ||||||
The NASDAQ OMX Group, Inc. * | 16,611 | 437,534 | ||||||
Waddell & Reed Financial, Inc., Class A | 10,290 | 324,752 | ||||||
4,843,299 | ||||||||
Energy 5.7% | ||||||||
Arch Coal, Inc. | 25,284 | 343,104 | ||||||
Atwood Oceanics, Inc. * | 6,615 | 314,609 | ||||||
Berry Petroleum Co., Class A | 6,321 | 341,081 | ||||||
CARBO Ceramics, Inc. (a) | 2,352 | 215,561 | ||||||
Cobalt International Energy, Inc. * | 18,081 | 543,515 | ||||||
Dresser-Rand Group, Inc. * | 8,967 | 470,947 | ||||||
Dril-Quip, Inc. * | 4,263 | 298,367 | ||||||
EXCO Resources, Inc. (a) | 17,717 | 126,322 | ||||||
Forest Oil Corp. * | 13,316 | 172,176 | ||||||
Helmerich & Payne, Inc. | 11,613 | 711,877 | ||||||
Laredo Petroleum Holdings, Inc. * | 2,058 | 52,211 | ||||||
Oasis Petroleum, Inc. * | 8,232 | 264,000 | ||||||
Oceaneering International, Inc. | 12,789 | 694,059 | ||||||
Oil States International, Inc. * | 6,027 | 489,513 | ||||||
Patterson-UTI Energy, Inc. | 18,161 | 352,687 | ||||||
Plains Exploration & Production Co. * | 17,052 | 751,482 | ||||||
Quicksilver Resources, Inc. * | 13,841 | 76,679 | ||||||
Rowan Cos., Inc. * | 14,994 | 552,829 | ||||||
RPC, Inc. (a) | 5,733 | 91,785 | ||||||
SandRidge Energy, Inc. * | 45,141 | 391,372 | ||||||
SEACOR Holdings, Inc. * | 2,646 | 261,636 | ||||||
SM Energy Co. | 7,497 | 590,164 | ||||||
Southern Union Co. | 13,818 | 607,163 | ||||||
Sunoco, Inc. | 12,789 | 494,039 | ||||||
Superior Energy Services, Inc. * | 18,375 | 539,123 | ||||||
Teekay Corp. | 5,145 | 148,176 | ||||||
Tesoro Corp. * | 17,052 | 452,390 | ||||||
Tidewater, Inc. | 6,321 | 376,100 | ||||||
Unit Corp. * | 5,733 | 272,719 | ||||||
World Fuel Services Corp. | 8,379 | 349,069 | ||||||
11,344,755 | ||||||||
Food, Beverage & Tobacco 1.3% | ||||||||
Constellation Brands, Inc., Class A * | 22,344 | 487,993 | ||||||
Corn Products International, Inc. | 8,967 | 514,257 |
66 See financial notes
Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Dean Foods Co. * | 21,609 | 264,926 | ||||||
Flowers Foods, Inc. | 16,177 | 309,628 | ||||||
Post Holdings, Inc. * | 3,234 | 100,707 | ||||||
Ralcorp Holdings, Inc. * | 6,468 | 482,513 | ||||||
Smithfield Foods, Inc. * | 18,081 | 423,638 | ||||||
2,583,662 | ||||||||
Health Care Equipment & Services 5.1% | ||||||||
Accretive Health, Inc. *(a) | 4,704 | 122,257 | ||||||
Alere, Inc. * | 10,290 | 261,675 | ||||||
Allscripts Healthcare Solutions, Inc. * | 21,915 | 423,398 | ||||||
AMERIGROUP Corp. * | 5,733 | 389,443 | ||||||
Brookdale Senior Living, Inc. * | 12,054 | 224,686 | ||||||
Catalyst Health Solutions, Inc. * | 5,145 | 319,093 | ||||||
Community Health Systems, Inc. * | 10,878 | 274,561 | ||||||
Coventry Health Care, Inc. * | 17,640 | 576,652 | ||||||
DENTSPLY International, Inc. | 16,611 | 642,513 | ||||||
Gen-Probe, Inc. * | 5,733 | 391,449 | ||||||
Health Net, Inc. * | 10,440 | 394,006 | ||||||
Hill-Rom Holdings, Inc. | 7,350 | 249,679 | ||||||
Hologic, Inc. * | 31,164 | 646,030 | ||||||
IDEXX Laboratories, Inc. * | 6,615 | 567,236 | ||||||
LifePoint Hospitals, Inc. * | 5,733 | 223,415 | ||||||
Lincare Holdings, Inc. | 10,584 | 284,286 | ||||||
MEDNAX, Inc. * | 5,736 | 426,701 | ||||||
Omnicare, Inc. | 13,671 | 480,946 | ||||||
Owens & Minor, Inc. | 7,644 | 229,014 | ||||||
Patterson Cos., Inc. | 11,613 | 370,687 | ||||||
Quality Systems, Inc. | 4,412 | 189,142 | ||||||
ResMed, Inc. * | 17,493 | 512,545 | ||||||
STERIS Corp. | 6,468 | 202,966 | ||||||
Teleflex, Inc. | 4,851 | 287,519 | ||||||
Tenet Healthcare Corp. * | 51,088 | 288,647 | ||||||
The Cooper Cos., Inc. | 5,586 | 443,975 | ||||||
Universal Health Services, Inc., Class B | 10,878 | 485,268 | ||||||
VCA Antech, Inc. * | 10,143 | 223,044 | ||||||
10,130,833 | ||||||||
Household & Personal Products 1.4% | ||||||||
Church & Dwight Co., Inc. | 17,052 | 814,062 | ||||||
Energizer Holdings, Inc. * | 8,232 | 629,336 | ||||||
Herbalife Ltd. | 13,818 | 914,890 | ||||||
Nu Skin Enterprises, Inc., Class A | 6,909 | 399,064 | ||||||
2,757,352 | ||||||||
Insurance 6.1% | ||||||||
Alleghany Corp. *(a) | 1,029 | 334,054 | ||||||
Allied World Assurance Co. Holdings AG | 4,410 | 290,928 | ||||||
American Financial Group, Inc. | 10,290 | 385,360 | ||||||
American National Insurance Co. | 1,764 | 127,184 | ||||||
Arch Capital Group Ltd. * | 16,170 | 599,098 | ||||||
Arthur J. Gallagher & Co. | 13,230 | 451,408 | ||||||
Aspen Insurance Holdings Ltd. | 8,232 | 218,395 | ||||||
Assurant, Inc. | 11,172 | 474,475 | ||||||
Assured Guaranty Ltd. | 20,874 | 350,683 | ||||||
Axis Capital Holdings Ltd. | 15,435 | 476,170 | ||||||
Brown & Brown, Inc. | 13,671 | 323,046 | ||||||
Cincinnati Financial Corp. | 18,081 | 635,909 | ||||||
Endurance Specialty Holdings Ltd. | 4,853 | 186,646 | ||||||
Erie Indemnity Co., Class A | 3,235 | 246,216 | ||||||
Everest Re Group Ltd. | 5,292 | 464,902 | ||||||
Fidelity National Financial, Inc., Class A | 26,019 | 449,088 | ||||||
Genworth Financial, Inc., Class A * | 57,407 | 521,830 | ||||||
Hanover Insurance Group, Inc. | 5,439 | 222,020 | ||||||
HCC Insurance Holdings, Inc. | 13,083 | 399,555 | ||||||
Markel Corp. * | 1,176 | 479,749 | ||||||
Mercury General Corp. | 3,234 | 138,674 | ||||||
Old Republic International Corp. | 28,518 | 309,705 | ||||||
PartnerRe Ltd. | 7,938 | 503,587 | ||||||
ProAssurance Corp. | 3,528 | 309,617 | ||||||
Reinsurance Group of America, Inc. | 8,820 | 508,649 | ||||||
RenaissanceRe Holdings Ltd. | 6,174 | 444,281 | ||||||
Torchmark Corp. | 12,789 | 619,499 | ||||||
Transatlantic Holdings, Inc. | 7,350 | 445,410 | ||||||
Validus Holdings Ltd. | 8,526 | 259,958 | ||||||
W.R. Berkley Corp. | 13,233 | 473,080 | ||||||
White Mountains Insurance Group Ltd. | 739 | 366,707 | ||||||
12,015,883 | ||||||||
Materials 8.6% | ||||||||
AbitibiBowater, Inc. * | 8,543 | 130,708 | ||||||
Airgas, Inc. | 7,791 | 641,433 | ||||||
Albemarle Corp. | 10,731 | 713,826 | ||||||
Allegheny Technologies, Inc. | 12,936 | 567,502 | ||||||
Allied Nevada Gold Corp. * | 10,143 | 349,021 | ||||||
AptarGroup, Inc. | 7,350 | 387,933 | ||||||
Ashland, Inc. | 8,379 | 532,569 | ||||||
Bemis Co., Inc. | 12,201 | 382,745 | ||||||
Celanese Corp., Series A | 18,669 | 888,084 | ||||||
Coeur d’Alene Mines Corp. * | 10,437 | 296,828 | ||||||
Compass Minerals International, Inc. | 3,823 | 275,447 | ||||||
Cytec Industries, Inc. | 5,880 | 349,625 | ||||||
Domtar Corp. | 4,410 | 422,787 | ||||||
Eastman Chemical Co. | 15,435 | 835,497 | ||||||
Greif, Inc., Class A | 4,704 | 240,892 | ||||||
Huntsman Corp. | 22,932 | 313,251 | ||||||
International Flavors & Fragrances, Inc. | 9,555 | 544,922 | ||||||
Intrepid Potash, Inc. * | 6,174 | 156,141 | ||||||
Kronos Worldwide, Inc. | 2,222 | 51,928 | ||||||
Martin Marietta Materials, Inc. (a) | 5,439 | 467,047 | ||||||
MeadWestvaco Corp. | 20,139 | 609,809 | ||||||
Molycorp, Inc. *(a) | 7,203 | 177,914 | ||||||
Owens-Illinois, Inc. * | 19,551 | 467,269 | ||||||
Packaging Corp. of America | 12,201 | 361,638 | ||||||
Reliance Steel & Aluminum Co. | 8,820 | 473,810 | ||||||
Rock-Tenn Co., Class A | 8,379 | 590,636 | ||||||
Rockwood Holdings, Inc. * | 8,085 | 430,526 | ||||||
Royal Gold, Inc. | 6,468 | 449,203 | ||||||
RPM International, Inc. | 15,582 | 371,942 | ||||||
Sealed Air Corp. | 22,785 | 447,270 | ||||||
Silgan Holdings, Inc. | 5,586 | 237,517 | ||||||
Sonoco Products Co. | 11,760 | 386,198 | ||||||
Steel Dynamics, Inc. | 26,019 | 385,341 | ||||||
The Scotts Miracle-Gro Co., Class A (a) | 4,998 | 234,106 |
See financial notes 67
Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
The Valspar Corp. | 10,290 | 476,942 | ||||||
Titanium Metals Corp. | 9,702 | 142,231 | ||||||
United States Steel Corp. (a) | 17,052 | 464,155 | ||||||
Vulcan Materials Co. | 13,965 | 622,280 | ||||||
W.R. Grace & Co. * | 7,350 | 418,656 | ||||||
Walter Energy, Inc. | 7,350 | 476,501 | ||||||
Westlake Chemical Corp. | 2,352 | 141,661 | ||||||
16,913,791 | ||||||||
Media 2.1% | ||||||||
AMC Networks, Inc., Class A * | 6,909 | 313,600 | ||||||
Charter Communications, Inc., Class A * | 4,557 | 288,959 | ||||||
Clear Channel Outdoor Holdings, Inc., Class A * | 4,582 | 60,620 | ||||||
DreamWorks Animation SKG, Inc., Class A * | 7,938 | 137,010 | ||||||
Gannett Co., Inc. | 28,242 | 419,111 | ||||||
John Wiley & Sons, Inc., Class A | 6,174 | 280,300 | ||||||
Lamar Advertising Co., Class A * | 6,770 | 221,379 | ||||||
Liberty Media Corp. - Liberty Capital, Series A * | 13,671 | 1,228,886 | ||||||
Morningstar, Inc. | 3,087 | 184,819 | ||||||
Pandora Media, Inc. * | 7,203 | 94,071 | ||||||
Regal Entertainment Group, Class A (a) | 9,261 | 127,987 | ||||||
The Interpublic Group of Cos., Inc. | 54,254 | 635,857 | ||||||
The Washington Post Co., Class B | 588 | 231,613 | ||||||
4,224,212 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 3.1% | ||||||||
Amylin Pharmaceuticals, Inc. * | 15,729 | 268,808 | ||||||
Bio-Rad Laboratories, Inc., Class A * | 2,352 | 239,716 | ||||||
BioMarin Pharmaceutical, Inc. * | 13,671 | 488,738 | ||||||
Bruker Corp. * | 10,955 | 175,609 | ||||||
Charles River Laboratories International, Inc. * | 6,174 | 216,893 | ||||||
Covance, Inc. * | 7,203 | 343,799 | ||||||
Dendreon Corp. *(a) | 17,493 | 196,971 | ||||||
Endo Pharmaceuticals Holdings, Inc. * | 13,692 | 507,562 | ||||||
Human Genome Sciences, Inc. * | 23,302 | 183,620 | ||||||
Mettler-Toledo International, Inc. * | 3,822 | 689,030 | ||||||
Onyx Pharmaceuticals, Inc. * | 7,497 | 287,285 | ||||||
PerkinElmer, Inc. | 13,524 | 365,148 | ||||||
Regeneron Pharmaceuticals, Inc. * | 8,673 | 908,844 | ||||||
Salix Pharmaceuticals Ltd. * | 6,321 | 311,752 | ||||||
Techne Corp. | 4,116 | 294,664 | ||||||
United Therapeutics Corp. * | 6,029 | 287,764 | ||||||
Warner Chilcott plc, Class A * | 20,727 | 346,763 | ||||||
6,112,966 | ||||||||
Real Estate 8.1% | ||||||||
Alexandria Real Estate Equities, Inc. | 7,350 | 526,922 | ||||||
American Campus Communities, Inc. | 8,232 | 338,747 | ||||||
Apartment Investment & Management Co., Class A | 14,406 | 357,845 | ||||||
BRE Properties, Inc. | 8,820 | 427,153 | ||||||
Camden Property Trust | 8,526 | 528,612 | ||||||
CBRE Group, Inc. * | 34,545 | 633,210 | ||||||
Chimera Investment Corp. | 120,754 | 370,715 | ||||||
Corporate Office Properties Trust | 8,379 | 205,453 | ||||||
DDR Corp. | 26,901 | 380,111 | ||||||
Digital Realty Trust, Inc. | 12,495 | 905,887 | ||||||
Douglas Emmett, Inc. | 14,994 | 315,924 | ||||||
Duke Realty Corp. | 29,611 | 411,001 | ||||||
Equity Lifestyle Properties, Inc. | 4,557 | 303,086 | ||||||
Essex Property Trust, Inc. | 3,969 | 555,620 | ||||||
Federal Realty Investment Trust | 7,350 | 700,823 | ||||||
Highwoods Properties, Inc. | 8,526 | 272,832 | ||||||
Home Properties, Inc. | 6,027 | 347,336 | ||||||
Hospitality Properties Trust | 14,700 | 363,531 | ||||||
Jones Lang LaSalle, Inc. | 5,145 | 418,854 | ||||||
Liberty Property Trust | 13,524 | 458,734 | ||||||
Mack-Cali Realty Corp. | 10,437 | 298,498 | ||||||
MFA Financial, Inc. | 41,748 | 304,760 | ||||||
Mid-America Apartment Communities, Inc. | 4,410 | 275,052 | ||||||
National Retail Properties, Inc. | 11,466 | 305,569 | ||||||
OMEGA Healthcare Investors, Inc. | 12,054 | 245,540 | ||||||
Piedmont Office Realty Trust, Inc., Class A | 20,580 | 362,620 | ||||||
Rayonier, Inc. | 14,406 | 641,355 | ||||||
Realty Income Corp. | 15,876 | 585,666 | ||||||
Regency Centers Corp. | 10,731 | 459,179 | ||||||
Senior Housing Properties Trust | 19,116 | 409,082 | ||||||
SL Green Realty Corp. | 10,143 | 771,375 | ||||||
Taubman Centers, Inc. | 6,909 | 477,205 | ||||||
The Macerich Co. | 15,582 | 841,272 | ||||||
UDR, Inc. | 26,019 | 650,995 | ||||||
Washington REIT | 7,644 | 226,415 | ||||||
Weingarten Realty Investors | 14,112 | 351,389 | ||||||
16,028,368 | ||||||||
Retailing 4.4% | ||||||||
Aaron’s, Inc. | 8,234 | 230,058 | ||||||
Abercrombie & Fitch Co., Class A | 10,437 | 477,910 | ||||||
Advance Auto Parts, Inc. | 8,673 | 740,414 | ||||||
American Eagle Outfitters, Inc. | 22,972 | 334,013 | ||||||
AutoNation, Inc. * | 4,122 | 140,478 | ||||||
Big Lots, Inc. * | 7,644 | 335,189 | ||||||
Chico’s FAS, Inc. | 20,433 | 306,699 | ||||||
Dick’s Sporting Goods, Inc. | 10,731 | 480,320 | ||||||
Dillard’s, Inc., Class A | 3,969 | 242,665 | ||||||
Foot Locker, Inc. | 18,375 | 535,999 | ||||||
GameStop Corp., Class A (a) | 16,464 | 375,050 | ||||||
Guess?, Inc. | 7,497 | 259,771 | ||||||
HomeAway, Inc. *(a) | 3,381 | 89,529 | ||||||
LKQ Corp. * | 17,346 | 552,643 | ||||||
PetSmart, Inc. | 13,377 | 745,634 | ||||||
Sally Beauty Holdings, Inc. * | 16,519 | 393,152 | ||||||
Signet Jewelers Ltd. | 10,290 | 482,601 | ||||||
Tractor Supply Co. | 8,526 | 728,717 | ||||||
Ulta Salon, Cosmetics & Fragrance, Inc. * | 5,880 | 489,451 | ||||||
Urban Outfitters, Inc. * | 14,553 | 413,160 | ||||||
Williams-Sonoma, Inc. | 11,025 | 425,565 | ||||||
8,779,018 |
68 See financial notes
Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Semiconductors & Semiconductor Equipment 2.4% | ||||||||
Advanced Micro Devices, Inc. * | 67,385 | 495,280 | ||||||
Atmel Corp. * | 51,303 | 518,673 | ||||||
Cree, Inc. * | 13,818 | 418,547 | ||||||
Cypress Semiconductor Corp. * | 18,234 | 314,537 | ||||||
Lam Research Corp. * | 14,556 | 606,985 | ||||||
LSI Corp. * | 67,620 | 581,532 | ||||||
Novellus Systems, Inc. * | 8,232 | 382,624 | ||||||
ON Semiconductor Corp. * | 52,219 | 473,626 | ||||||
Skyworks Solutions, Inc. * | 21,903 | 590,724 | ||||||
Teradyne, Inc. * | 21,903 | 359,647 | ||||||
4,742,175 | ||||||||
Software & Services 7.4% | ||||||||
Akamai Technologies, Inc. * | 21,903 | 788,508 | ||||||
Alliance Data Systems Corp. * | 6,027 | 731,437 | ||||||
ANSYS, Inc. * | 11,025 | 696,559 | ||||||
Booz Allen Hamilton Holding Corp. | 1,788 | 32,917 | ||||||
Broadridge Financial Solutions, Inc. | 14,700 | 357,798 | ||||||
Cadence Design Systems, Inc. * | 31,752 | 373,721 | ||||||
Computer Sciences Corp. | 18,228 | 578,921 | ||||||
Compuware Corp. * | 26,019 | 234,431 | ||||||
Concur Technologies, Inc. * | 5,586 | 329,295 | ||||||
DST Systems, Inc. | 4,410 | 233,730 | ||||||
Equinix, Inc. * | 5,586 | 783,045 | ||||||
FactSet Research Systems, Inc. | 4,859 | 424,677 | ||||||
FleetCor Technologies, Inc. * | 3,824 | 141,603 | ||||||
Fortinet, Inc. * | 14,112 | 381,730 | ||||||
Gartner, Inc. * | 10,584 | 426,112 | ||||||
Genpact Ltd. * | 12,348 | 197,815 | ||||||
Global Payments, Inc. | 9,408 | 485,641 | ||||||
IAC/InterActiveCorp | 8,673 | 395,489 | ||||||
Informatica Corp. * | 12,495 | 614,254 | ||||||
Jack Henry & Associates, Inc. | 10,290 | 347,185 | ||||||
Lender Processing Services, Inc. | 9,996 | 220,312 | ||||||
MICROS Systems, Inc., Class A * | 9,555 | 496,191 | ||||||
NeuStar, Inc., Class A * | 7,676 | 269,044 | ||||||
Nuance Communications, Inc. * | 27,342 | 708,705 | ||||||
Parametric Technology Corp. * | 14,112 | 376,790 | ||||||
Rackspace Hosting, Inc. * | 13,083 | 683,456 | ||||||
Rovi Corp. * | 13,230 | 469,400 | ||||||
Solera Holdings, Inc. | 8,673 | 416,304 | ||||||
Synopsys, Inc. * | 17,199 | 524,053 | ||||||
TIBCO Software, Inc. * | 19,845 | 574,910 | ||||||
Total System Services, Inc. | 22,785 | 498,536 | ||||||
VeriFone Systems, Inc. * | 12,201 | 584,306 | ||||||
WebMD Health Corp. * | 6,911 | 171,738 | ||||||
14,548,613 | ||||||||
Technology Hardware & Equipment 4.8% | ||||||||
Acme Packet, Inc. * | 6,468 | 197,145 | ||||||
Anixter International, Inc. * | 3,528 | 245,337 | ||||||
Arrow Electronics, Inc. * | 13,377 | 537,086 | ||||||
Avnet, Inc. * | 17,640 | 630,453 | ||||||
AVX Corp. | 5,762 | 76,289 | ||||||
Brocade Communications Systems, Inc. * | 54,758 | 316,501 | ||||||
Diebold, Inc. | 7,362 | 288,075 | ||||||
Dolby Laboratories, Inc., Class A * | 6,027 | 229,448 | ||||||
EchoStar Corp., Class A * | 4,851 | 145,384 | ||||||
FLIR Systems, Inc. | 18,963 | 496,262 | ||||||
Ingram Micro, Inc., Class A * | 18,228 | 348,702 | ||||||
InterDigital, Inc. | 5,439 | 205,866 | ||||||
IPG Photonics Corp. * | 3,087 | 162,469 | ||||||
Jabil Circuit, Inc. | 22,648 | 584,998 | ||||||
JDS Uniphase Corp. * | 27,195 | 354,623 | ||||||
Lexmark International, Inc., Class A | 9,261 | 341,546 | ||||||
Molex, Inc. | 17,493 | 474,060 | ||||||
National Instruments Corp. | 11,172 | 297,175 | ||||||
NCR Corp. * | 18,669 | 405,491 | ||||||
Polycom, Inc. * | 21,021 | 434,084 | ||||||
Riverbed Technology, Inc. * | 18,522 | 527,321 | ||||||
Seagate Technology plc | 49,539 | 1,300,894 | ||||||
Trimble Navigation Ltd. * | 14,406 | 724,478 | ||||||
Zebra Technologies Corp., Class A * | 6,323 | 243,056 | ||||||
9,566,743 | ||||||||
Telecommunication Services 1.2% | ||||||||
Clearwire Corp., Class A * | 17,100 | 39,330 | ||||||
Level 3 Communications, Inc. * | 18,536 | 450,610 | ||||||
MetroPCS Communications, Inc. * | 37,526 | 386,518 | ||||||
SBA Communications Corp., Class A * | 13,524 | 634,681 | ||||||
Telephone & Data Systems, Inc. | 11,760 | 297,175 | ||||||
tw telecom, Inc. * | 18,081 | 390,550 | ||||||
United States Cellular Corp. * | 1,911 | 82,441 | ||||||
2,281,305 | ||||||||
Transportation 1.9% | ||||||||
Hertz Global Holdings, Inc. * | 27,803 | 397,583 | ||||||
J.B. Hunt Transport Services, Inc. | 11,613 | 594,702 | ||||||
Kansas City Southern * | 12,936 | 900,087 | ||||||
Kirby Corp. * | 6,615 | 453,921 | ||||||
Landstar System, Inc. | 5,586 | 301,979 | ||||||
Ryder System, Inc. | 6,029 | 320,923 | ||||||
United Continental Holdings, Inc. * | 39,249 | 810,492 | ||||||
3,779,687 | ||||||||
Utilities 7.0% | ||||||||
AGL Resources, Inc. | 13,672 | 545,103 | ||||||
Alliant Energy Corp. | 12,936 | 551,591 | ||||||
American Water Works Co., Inc. | 20,727 | 710,522 | ||||||
Aqua America, Inc. | 16,317 | 362,401 | ||||||
Atmos Energy Corp. | 10,584 | 325,246 | ||||||
Cleco Corp. | 7,350 | 282,828 | ||||||
CMS Energy Corp. | 29,988 | 642,043 | ||||||
Energen Corp. | 8,526 | 453,839 | ||||||
GenOn Energy, Inc. * | 90,258 | 222,035 | ||||||
Great Plains Energy, Inc. | 15,890 | 314,304 | ||||||
Hawaiian Electric Industries, Inc. | 11,172 | 279,859 | ||||||
IDACORP, Inc. | 5,880 | 238,022 | ||||||
Integrys Energy Group, Inc. | 9,261 | 481,850 | ||||||
ITC Holdings Corp. | 6,027 | 454,918 | ||||||
MDU Resources Group, Inc. | 20,580 | 446,586 | ||||||
National Fuel Gas Co. | 9,261 | 466,106 | ||||||
NiSource, Inc. | 33,222 | 797,328 | ||||||
NRG Energy, Inc. * | 28,665 | 490,171 | ||||||
NSTAR | 12,348 | 579,121 |
See financial notes 69
Schwab U.S. Mid-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
NV Energy, Inc. | 27,783 | 435,637 | ||||||
OGE Energy Corp. | 11,466 | 601,736 | ||||||
Pepco Holdings, Inc. | 26,754 | 520,098 | ||||||
Piedmont Natural Gas Co., Inc. | 8,379 | 271,480 | ||||||
Pinnacle West Capital Corp. | 12,789 | 601,467 | ||||||
Questar Corp. | 21,021 | 404,024 | ||||||
SCANA Corp. | 13,671 | 615,195 | ||||||
TECO Energy, Inc. | 23,961 | 430,100 | ||||||
UGI Corp. | 13,818 | 390,358 | ||||||
Vectren Corp. | 9,555 | 279,197 | ||||||
Westar Energy, Inc. | 13,818 | 380,271 | ||||||
WGL Holdings, Inc. | 6,027 | 246,082 | ||||||
13,819,518 | ||||||||
Total Common Stock | ||||||||
(Cost $189,631,768) | 197,473,843 | |||||||
Other Investment Company 0.0% of net assets | ||||||||
Money Market Fund 0.0% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 63,088 | 63,088 | ||||||
Total Other Investment Company | ||||||||
(Cost $63,088) | 63,088 | |||||||
End of Investments | ||||||||
Collateral Invested for Securities on Loan 1.1% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 2,177,289 | 2,177,289 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $2,177,289) | 2,177,289 | |||||||
End of Collateral Invested for Securities on Loan |
At 2/29/12, the tax basis cost of the fund’s investments was $189,844,415 and the unrealized appreciation and depreciation were $12,978,113 and ($5,285,597), respectively, with a net unrealized appreciation of $7,692,516.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. |
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $197,473,843 | $— | $— | $197,473,843 | ||||||||||||
Other Investment Company(a) | 63,088 | — | — | 63,088 | ||||||||||||
Total | $197,536,931 | $— | $— | $197,536,931 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $2,177,289 | $— | $— | $2,177,289 |
There were no significant transfers between Level 1, Level 2 and Level 3 for the period ended February 29, 2012.
70 See financial notes
Schwab U.S. Mid-Cap ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $189,694,856) including securities on loan of $2,114,504 | $197,536,931 | |||||
Collateral invested for securities on loan | 2,177,289 | |||||
Receivables: | ||||||
Dividends | 192,994 | |||||
Income from securities on loan | + | 3,424 | ||||
Total assets | 199,910,638 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 2,177,289 | |||||
Payables: | ||||||
Investment adviser fees | + | 2,121 | ||||
Total liabilities | 2,179,410 | |||||
Net Assets | ||||||
Total assets | 199,910,638 | |||||
Total liabilities | − | 2,179,410 | ||||
Net assets | $197,731,228 | |||||
Net Assets by Source | ||||||
Capital received from investors | 189,323,954 | |||||
Net investment income not yet distributed | 356,742 | |||||
Net realized capital gains | 190,098 | |||||
Net unrealized capital gains | 7,860,434 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$197,731,228 | 7,350,001 | $26.90 |
See financial notes 71
Schwab U.S. Mid-Cap ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends | $893,057 | |||||
Interest | 55 | |||||
Securities on loan | + | 15,248 | ||||
Total investment income | 908,360 | |||||
Expenses | ||||||
Investment adviser fees | 74,438 | |||||
Total expenses | − | 74,438 | ||||
Net investment income | 833,922 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments | (836,595 | ) | ||||
Net realized gains on in-kind redemptions | + | 1,289,958 | ||||
Net realized gains | 453,363 | |||||
Net unrealized gains on investments | + | 18,163,780 | ||||
Net realized and unrealized gains | 18,617,143 | |||||
Net increase in net assets resulting from operations | $19,451,065 |
72 See financial notes
Schwab U.S. Mid-Cap ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 1/12/11*-8/31/11 | |||||||||
Net investment income | $833,922 | $448,890 | ||||||||
Net realized gains | 453,363 | 473,873 | ||||||||
Net unrealized gains (losses) | + | 18,163,780 | (10,303,346 | ) | ||||||
Net increase (decrease) in net assets resulting from operations | 19,451,065 | (9,380,583 | ) | |||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($599,220 | ) | ($326,850 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 1/12/11*-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 5,050,000 | $123,328,815 | 4,750,001 | $123,751,580 | ||||||||||||||
Shares Redeemed | + | (1,050,000 | ) | (23,999,903 | ) | (1,400,000 | ) | (34,493,676 | ) | |||||||||
Net transactions in fund shares | 4,000,000 | $99,328,912 | 3,350,001 | $89,257,904 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 1/12/11*-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 3,350,001 | $79,550,471 | — | $— | ||||||||||||||
Total increase | + | 4,000,000 | 118,180,757 | 3,350,001 | 79,550,471 | |||||||||||||
End of period | 7,350,001 | $197,731,228 | 3,350,001 | $79,550,471 | ||||||||||||||
Net investment income not yet distributed | $356,742 | $122,040 |
* | Commencement of operations. |
See financial notes 73
Schwab U.S. Small-Cap ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 10/30/091– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 32.34 | 26.48 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.23 | 0.39 | 0.23 | |||||||||||
Net realized and unrealized gains (losses) | 3.97 | 5.86 | 1.45 | 2 | ||||||||||
Total from investment operations | 4.20 | 6.25 | 1.68 | |||||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.21 | ) | (0.39 | ) | (0.20 | ) | ||||||||
Net asset value at end of period | 36.33 | 32.34 | 26.48 | |||||||||||
Total return (%) | 13.09 | 3 | 23.55 | 6.67 | 3 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.13 | 4 | 0.13 | 0.14 | 4,5 | |||||||||
Gross operating expenses | 0.13 | 4 | 0.13 | 0.14 | 4 | |||||||||
Net investment income (loss) | 1.43 | 4 | 1.17 | 1.05 | 4 | |||||||||
Portfolio turnover rate6 | 5 | 3 | 11 | 8 | 3 | |||||||||
Net assets, end of period ($ x 1,000) | 626,777 | 462,523 | 193,310 |
* Unaudited.
1 Commencement of operations.
2 The per share amount does not accord with the change in aggregate gains and losses in securities during the period because of the timing of sales and repurchases of fund shares in relation to fluctuating market values.
3 Not annualized.
4 Annualized.
5 Effective June 14, 2010, the annual operating expense was reduced. The ratio presented for period ended 8/31/10 is a blended rate.
6 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
74 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .9% | Common Stock | 584,679,724 | 626,200,391 | ||||||||
0 | .0% | Rights | — | — | ||||||||
99 | .9% | Total Investments | 584,679,724 | 626,200,391 | ||||||||
2 | .2% | Collateral Invested for Securities on Loan | 13,908,517 | 13,908,517 | ||||||||
(2 | .1)% | Other Assets and Liabilities, Net | (13,331,772 | ) | ||||||||
100 | .0% | Net Assets | 626,777,136 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.9% of net assets | ||||||||
Automobiles & Components 1.0% | ||||||||
American Axle & Manufacturing Holdings, Inc. * | 24,272 | 276,458 | ||||||
Cooper Tire & Rubber Co. | 23,889 | 396,557 | ||||||
Dana Holding Corp. * | 57,615 | 921,840 | ||||||
Dorman Products, Inc. * | 5,175 | 234,997 | ||||||
Drew Industries, Inc. * | 7,328 | 200,787 | ||||||
Exide Technologies * | 27,995 | 83,145 | ||||||
Federal-Mogul Corp. * | 9,660 | 166,249 | ||||||
Fuel Systems Solutions, Inc. * | 6,061 | 156,980 | ||||||
Modine Manufacturing Co. * | 18,032 | 163,731 | ||||||
Superior Industries International, Inc. | 9,055 | 163,714 | ||||||
Tenneco, Inc. * | 23,805 | 916,493 | ||||||
Tesla Motors, Inc. *(a) | 20,457 | 683,468 | ||||||
Thor Industries, Inc. | 18,285 | 595,542 | ||||||
Tower International, Inc. * | 2,434 | 31,009 | ||||||
WABCO Holdings, Inc. * | 25,185 | 1,498,256 | ||||||
Winnebago Industries, Inc. * | 11,076 | 98,798 | ||||||
6,588,024 | ||||||||
Banks 6.7% | ||||||||
1st Source Corp. | 5,082 | 124,763 | ||||||
Arrow Financial Corp. | 4,662 | 112,168 | ||||||
Associated Banc-Corp | 66,226 | 876,832 | ||||||
Astoria Financial Corp. | 34,422 | 302,225 | ||||||
BancFirst Corp. | 2,760 | 112,967 | ||||||
BancorpSouth, Inc. | 30,413 | 360,090 | ||||||
Bank Mutual Corp. | 17,595 | 69,148 | ||||||
Bank of Hawaii Corp. | 18,630 | 856,980 | ||||||
Bank of the Ozarks, Inc. | 10,416 | 305,710 | ||||||
BankFinancial Corp. | 6,562 | 37,075 | ||||||
BankUnited, Inc. | 15,226 | 350,655 | ||||||
BBCN Bancorp, Inc. * | 29,325 | 300,581 | ||||||
Beneficial Mutual Bancorp, Inc. * | 13,800 | 125,166 | ||||||
Berkshire Hills Bancorp, Inc. | 7,957 | 174,974 | ||||||
Boston Private Financial Holdings, Inc. | 30,015 | 286,043 | ||||||
Brookline Bancorp, Inc. | 26,565 | 243,867 | ||||||
Camden National Corp. | 3,105 | 109,762 | ||||||
Capital City Bank Group, Inc. | 5,065 | 39,862 | ||||||
CapitalSource, Inc. | 105,225 | 710,269 | ||||||
Capitol Federal Financial, Inc. | 63,825 | 746,114 | ||||||
Cardinal Financial Corp. | 10,606 | 114,015 | ||||||
Cascade Bancorp *(a) | 6,711 | 38,924 | ||||||
Cathay General Bancorp | 29,334 | 479,318 | ||||||
Centerstate Banks, Inc. | 10,424 | 72,968 | ||||||
Central Pacific Financial Corp. * | 1,436 | 19,874 | ||||||
Chemical Financial Corp. | 9,718 | 214,379 | ||||||
Citizens Republic Bancorp, Inc. * | 15,180 | 207,814 | ||||||
City Holding Co. (a) | 5,604 | 192,049 | ||||||
Clifton Savings Bancorp, Inc. | 4,272 | 41,994 | ||||||
CoBiz Financial, Inc. | 14,145 | 82,465 | ||||||
Columbia Banking System, Inc. | 14,656 | 309,974 | ||||||
Community Bank System, Inc. | 14,145 | 386,441 | ||||||
Community Trust Bancorp, Inc. | 5,269 | 162,496 | ||||||
CVB Financial Corp. | 35,443 | 381,721 | ||||||
CYS Investments, Inc. | 43,125 | 585,206 | ||||||
Dime Community Bancshares | 11,923 | 165,968 | ||||||
Doral Financial Corp. * | 44,850 | 62,790 | ||||||
East West Bancorp, Inc. | 56,235 | 1,243,918 | ||||||
ESSA Bancorp, Inc. | 4,023 | 38,701 | ||||||
F.N.B. Corp. | 52,785 | 622,335 | ||||||
First Bancorp | 5,922 | 59,220 | ||||||
First Busey Corp. | 31,395 | 151,952 | ||||||
First Citizens BancShares, Inc., Class A | 2,417 | 425,755 | ||||||
First Commonwealth Financial Corp. | 39,377 | 235,868 | ||||||
First Community Bancshares, Inc. | 5,555 | 68,882 | ||||||
First Financial Bancorp | 22,425 | 367,097 | ||||||
First Financial Bankshares, Inc. (a) | 11,802 | 404,337 | ||||||
First Financial Corp. | 4,183 | 133,814 | ||||||
First Financial Holdings, Inc. | 5,657 | 55,212 | ||||||
First Horizon National Corp. | 99,360 | 933,984 | ||||||
First Interstate BancSystem, Inc. | 5,866 | 79,778 | ||||||
First Merchants Corp. | 10,111 | 112,030 | ||||||
First Midwest Bancorp, Inc. | 28,290 | 327,032 | ||||||
First Niagara Financial Group, Inc. | 112,125 | 1,071,915 | ||||||
FirstMerit Corp. | 42,117 | 675,978 | ||||||
Flagstar Bancorp, Inc. * | 75,210 | 54,219 | ||||||
Flushing Financial Corp. | 12,624 | 163,481 | ||||||
Fulton Financial Corp. | 75,555 | 740,439 | ||||||
Glacier Bancorp, Inc. | 28,116 | 388,001 | ||||||
Great Southern Bancorp, Inc. | 3,533 | 77,797 | ||||||
Hampton Roads Bankshares, Inc. * | 8,625 | 22,425 | ||||||
Hancock Holding Co. | 30,705 | 1,042,435 | ||||||
Heartland Financial USA, Inc. | 5,756 | 90,542 | ||||||
Home Bancshares, Inc. | 9,777 | 246,380 | ||||||
Hudson Valley Holding Corp. | 6,611 | 107,892 | ||||||
IBERIABANK Corp. | 11,385 | 603,860 | ||||||
Independent Bank Corp. | 8,051 | 221,322 | ||||||
International Bancshares Corp. | 22,080 | 419,078 | ||||||
Investors Bancorp, Inc. * | 17,940 | 260,668 | ||||||
Kearny Financial Corp. | 6,214 | 57,977 | ||||||
Lakeland Financial Corp. | 5,757 | 145,192 | ||||||
MB Financial, Inc. | 21,390 | 425,661 |
See financial notes 75
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Meridian Interstate Bancorp, Inc. * | 4,272 | 55,237 | ||||||
MGIC Investment Corp. * | 70,725 | 318,970 | ||||||
National Penn Bancshares, Inc. | 48,300 | 422,625 | ||||||
NBT Bancorp, Inc. | 12,507 | 272,778 | ||||||
Northfield Bancorp, Inc. (a) | 7,480 | 103,074 | ||||||
Northwest Bancshares, Inc. | 37,268 | 470,322 | ||||||
Ocwen Financial Corp. * | 37,260 | 600,259 | ||||||
Old National Bancorp | 35,880 | 433,430 | ||||||
Oriental Financial Group, Inc. | 17,015 | 199,926 | ||||||
Oritani Financial Corp. | 16,560 | 215,777 | ||||||
Orrstown Financial Services, Inc. | 2,762 | 23,891 | ||||||
Pacific Capital Bancorp NA *(a) | 2,071 | 58,009 | ||||||
PacWest Bancorp | 12,226 | 266,160 | ||||||
Park National Corp. (a) | 5,175 | 356,247 | ||||||
Pinnacle Financial Partners, Inc. * | 13,488 | 223,361 | ||||||
Popular, Inc. * | 384,187 | 729,955 | ||||||
PrivateBancorp, Inc. | 24,840 | 360,180 | ||||||
Prosperity Bancshares, Inc. | 17,940 | 784,696 | ||||||
Provident Financial Services, Inc. | 22,124 | 303,984 | ||||||
Provident New York Bancorp | 13,986 | 119,301 | ||||||
Radian Group, Inc. (a) | 50,370 | 190,902 | ||||||
Renasant Corp. | 9,903 | 150,229 | ||||||
Republic Bancorp, Inc., Class A | 4,197 | 109,374 | ||||||
Rockville Financial, Inc. | 4,916 | 56,780 | ||||||
Roma Financial Corp. | 2,965 | 30,273 | ||||||
S&T Bancorp, Inc. | 10,541 | 223,575 | ||||||
S.Y. Bancorp, Inc. | 4,683 | 101,855 | ||||||
Sandy Spring Bancorp, Inc. | 9,666 | 174,568 | ||||||
SCBT Financial Corp. | 5,196 | 160,920 | ||||||
Signature Bank * | 17,595 | 1,044,439 | ||||||
Simmons First National Corp., Class A | 6,139 | 161,394 | ||||||
Southside Bancshares, Inc. | 6,236 | 132,889 | ||||||
State Bank Financial Corp. * | 12,199 | 198,112 | ||||||
StellarOne Corp. | 9,234 | 107,391 | ||||||
Sterling Bancorp | 12,420 | 110,538 | ||||||
Sterling Financial Corp. * | 10,752 | 209,234 | ||||||
Susquehanna Bancshares, Inc. | 70,708 | 655,463 | ||||||
SVB Financial Group * | 16,905 | 1,002,128 | ||||||
Synovus Financial Corp. | 276,345 | 585,851 | ||||||
TCF Financial Corp. | 57,306 | 617,759 | ||||||
Territorial Bancorp, Inc. | 4,352 | 91,392 | ||||||
Texas Capital Bancshares, Inc. * | 14,248 | 482,865 | ||||||
Tompkins Financial Corp. | 3,450 | 141,795 | ||||||
TowneBank (a) | 11,439 | 147,792 | ||||||
TriCo Bancshares | 6,110 | 98,982 | ||||||
TrustCo Bank Corp. | 35,190 | 188,618 | ||||||
Trustmark Corp. | 21,896 | 516,308 | ||||||
UMB Financial Corp. | 14,145 | 589,139 | ||||||
Umpqua Holdings Corp. | 44,178 | 544,273 | ||||||
Union First Market Bankshares Corp. | 8,727 | 121,131 | ||||||
United Bankshares, Inc. (a) | 19,665 | 575,791 | ||||||
United Financial Bancorp, Inc. | 5,865 | 92,960 | ||||||
Univest Corp. of Pennsylvania | 6,938 | 109,620 | ||||||
Valley National Bancorp | 71,070 | 889,086 | ||||||
ViewPoint Financial Group | 6,132 | 91,919 | ||||||
Washington Federal, Inc. | 41,429 | 671,150 | ||||||
Washington Trust Bancorp, Inc. | 5,520 | 129,775 | ||||||
Webster Financial Corp. | 28,290 | 618,985 | ||||||
WesBanco, Inc. | 9,694 | 189,033 | ||||||
Westamerica Bancorp | 11,040 | 522,854 | ||||||
Western Alliance Bancorp * | 31,395 | 255,555 | ||||||
Westfield Financial, Inc. | 10,027 | 79,514 | ||||||
Wilshire Bancorp, Inc. * | 24,840 | 107,806 | ||||||
Wintrust Financial Corp. | 13,800 | 465,198 | ||||||
WSFS Financial Corp. | 3,207 | 123,437 | ||||||
42,025,658 | ||||||||
Capital Goods 11.3% | ||||||||
3D Systems Corp. *(a) | 16,318 | 365,523 | ||||||
A.O. Smith Corp. | 14,835 | 669,949 | ||||||
A123 Systems, Inc. *(a) | 38,295 | 68,931 | ||||||
AAON, Inc. | 7,991 | 148,233 | ||||||
AAR Corp. | 15,525 | 342,326 | ||||||
Accuride Corp. * | 16,408 | 130,444 | ||||||
Aceto Corp. | 9,839 | 81,565 | ||||||
Actuant Corp., Class A | 27,255 | 767,773 | ||||||
Acuity Brands, Inc. | 16,215 | 1,008,411 | ||||||
Aegion Corp. * | 15,276 | 269,010 | ||||||
Aerovironment, Inc. * | 6,557 | 186,743 | ||||||
Air Lease Corp. * | 27,945 | 687,168 | ||||||
Aircastle Ltd. | 18,378 | 250,125 | ||||||
Albany International Corp., Class A | 10,121 | 242,094 | ||||||
Alliant Techsystems, Inc. | 12,765 | 765,900 | ||||||
Altra Holdings, Inc. * | 10,391 | 202,521 | ||||||
Ameresco, Inc., Class A * | 6,948 | 97,897 | ||||||
American Railcar Industries, Inc. * | 3,495 | 103,102 | ||||||
American Science & Engineering, Inc. | 3,450 | 250,815 | ||||||
American Superconductor Corp. *(a) | 13,800 | 61,824 | ||||||
American Woodmark Corp. | 3,889 | 55,263 | ||||||
Ampco-Pittsburgh Corp. | 3,152 | 66,854 | ||||||
API Technologies Corp. * | 12,765 | 48,379 | ||||||
Apogee Enterprises, Inc. | 10,530 | 139,733 | ||||||
Applied Industrial Technologies, Inc. | 14,835 | 595,922 | ||||||
Armstrong World Industries, Inc. * | 8,280 | 424,102 | ||||||
Astec Industries, Inc. * | 7,010 | 266,029 | ||||||
Astronics Corp. * | 3,852 | 128,772 | ||||||
AZZ, Inc. | 4,842 | 243,068 | ||||||
Badger Meter, Inc. | 6,210 | 199,776 | ||||||
Barnes Group, Inc. | 18,630 | 516,051 | ||||||
BE Aerospace, Inc. * | 36,915 | 1,692,184 | ||||||
Beacon Roofing Supply, Inc. * | 17,402 | 410,339 | ||||||
Belden, Inc. | 18,285 | 721,709 | ||||||
Blount International, Inc. * | 18,293 | 313,725 | ||||||
Brady Corp., Class A | 17,689 | 565,164 | ||||||
Briggs & Stratton Corp. | 19,155 | 324,486 | ||||||
Builders FirstSource, Inc. * | 17,735 | 53,737 | ||||||
Capstone Turbine Corp. *(a) | 97,488 | 108,212 | ||||||
Carlisle Cos., Inc. | 23,460 | 1,144,848 | ||||||
Cascade Corp. | 3,220 | 171,433 | ||||||
Ceradyne, Inc. * | 8,837 | 273,152 | ||||||
Chart Industries, Inc. * | 11,389 | 778,894 | ||||||
CIRCOR International, Inc. | 6,623 | 219,288 | ||||||
CLARCOR, Inc. | 19,320 | 975,080 | ||||||
Colfax Corp. * | 17,587 | 598,310 | ||||||
Columbus McKinnon Corp. * | 7,730 | 128,704 | ||||||
Comfort Systems USA, Inc. | 14,490 | 165,766 | ||||||
Crane Co. | 20,010 | 971,886 | ||||||
Cubic Corp. | 6,231 | 297,842 | ||||||
Curtiss-Wright Corp. | 17,940 | 666,471 | ||||||
DigitalGlobe, Inc. * | 13,337 | 205,123 |
76 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Douglas Dynamics, Inc. | 7,779 | 101,127 | ||||||
Ducommun, Inc. * | 4,197 | 64,088 | ||||||
DXP Enterprises, Inc. * | 3,510 | 129,870 | ||||||
Dycom Industries, Inc. * | 13,455 | 286,322 | ||||||
Dynamic Materials Corp. | 5,065 | 113,000 | ||||||
EMCOR Group, Inc. | 25,185 | 700,143 | ||||||
Encore Wire Corp. | 7,138 | 207,930 | ||||||
Energy Recovery, Inc. * | 18,975 | 40,796 | ||||||
EnerSys * | 19,312 | 648,497 | ||||||
EnPro Industries, Inc. * | 7,957 | 300,854 | ||||||
ESCO Technologies, Inc. | 9,881 | 353,641 | ||||||
Esterline Technologies Corp. * | 11,730 | 761,863 | ||||||
Federal Signal Corp. * | 23,805 | 111,883 | ||||||
Franklin Electric Co., Inc. | 7,590 | 379,576 | ||||||
FreightCar America, Inc. | 4,683 | 129,485 | ||||||
FuelCell Energy, Inc. * | 42,908 | 63,933 | ||||||
Furmanite Corp. * | 13,360 | 97,528 | ||||||
GATX Corp. | 17,940 | 780,211 | ||||||
GenCorp, Inc. * | 21,390 | 128,340 | ||||||
Generac Holdings, Inc. * | 10,695 | 272,081 | ||||||
General Cable Corp. * | 20,700 | 641,079 | ||||||
GeoEye, Inc. * | 6,555 | 132,870 | ||||||
Gibraltar Industries, Inc. * | 11,730 | 162,109 | ||||||
Global Power Equipment Group, Inc. * | 5,358 | 129,931 | ||||||
Graco, Inc. | 23,805 | 1,218,340 | ||||||
GrafTech International Ltd. * | 49,156 | 624,773 | ||||||
Graham Corp. | 3,797 | 88,584 | ||||||
Granite Construction, Inc. | 13,110 | 374,946 | ||||||
Great Lakes Dredge & Dock Co. | 21,474 | 152,251 | ||||||
Griffon Corp. | 20,355 | 217,595 | ||||||
H&E Equipment Services, Inc. * | 11,730 | 202,812 | ||||||
Harsco Corp. | 31,050 | 690,241 | ||||||
HEICO Corp., Class A | 13,800 | 550,344 | ||||||
Hexcel Corp. * | 37,605 | 950,278 | ||||||
Houston Wire & Cable Co. | 5,976 | 84,859 | ||||||
Huntington Ingalls Industries, Inc. * | 17,940 | 643,687 | ||||||
IDEX Corp. | 32,085 | 1,341,153 | ||||||
II-VI, Inc. * | 20,238 | 473,367 | ||||||
Interline Brands, Inc. * | 12,545 | 257,925 | ||||||
John Bean Technologies Corp. | 10,776 | 186,102 | ||||||
Kaman Corp. | 10,005 | 345,072 | ||||||
Kaydon Corp. | 12,133 | 456,443 | ||||||
Kennametal, Inc. | 30,360 | 1,398,685 | ||||||
L.B. Foster Co. | 4,140 | 121,923 | ||||||
Lawson Products, Inc. | 1,119 | 18,251 | ||||||
Layne Christensen Co. * | 7,603 | 183,917 | ||||||
Lennox International, Inc. | 18,630 | 728,992 | ||||||
Lindsay Corp. | 4,830 | 316,800 | ||||||
MasTec, Inc. * | 23,856 | 419,627 | ||||||
Meritor, Inc. * | 36,225 | 268,427 | ||||||
Michael Baker Corp. * | 3,150 | 76,010 | ||||||
Moog, Inc., Class A * | 16,215 | 712,001 | ||||||
Mueller Industries, Inc. | 14,183 | 652,418 | ||||||
Mueller Water Products, Inc., Class A | 58,650 | 174,190 | ||||||
MYR Group, Inc. * | 7,740 | 155,032 | ||||||
NACCO Industries, Inc., Class A | 2,073 | 202,739 | ||||||
Nordson Corp. | 23,805 | 1,308,561 | ||||||
Nortek, Inc. * | 3,795 | 134,533 | ||||||
Northwest Pipe Co. * | 3,231 | 79,095 | ||||||
Orbital Sciences Corp. * | 22,255 | 312,683 | ||||||
Orion Marine Group, Inc. * | 9,834 | 71,788 | ||||||
Oshkosh Corp. * | 34,834 | 811,981 | ||||||
Otter Tail Corp. | 12,454 | 264,523 | ||||||
Pike Electric Corp. * | 7,590 | 67,779 | ||||||
Polypore International, Inc. *(a) | 15,529 | 638,552 | ||||||
Powell Industries, Inc. * | 3,450 | 113,125 | ||||||
Primoris Services Corp. | 10,620 | 163,336 | ||||||
Quanex Building Products Corp. | 14,552 | 247,530 | ||||||
Raven Industries, Inc. | 6,900 | 435,045 | ||||||
RBC Bearings, Inc. * | 8,280 | 376,823 | ||||||
Regal-Beloit Corp. | 14,839 | 1,001,632 | ||||||
Robbins & Myers, Inc. | 14,490 | 707,257 | ||||||
RSC Holdings, Inc. * | 23,805 | 530,137 | ||||||
Rush Enterprises, Inc., Class A * | 12,625 | 300,727 | ||||||
Sauer-Danfoss, Inc. * | 4,140 | 224,140 | ||||||
Seaboard Corp. * | 141 | 269,750 | ||||||
Simpson Manufacturing Co., Inc. | 15,525 | 462,955 | ||||||
Snap-On, Inc. | 22,425 | 1,370,840 | ||||||
Standex International Corp. | 4,916 | 187,840 | ||||||
Sterling Construction Co., Inc. * | 6,557 | 67,996 | ||||||
Sun Hydraulics Corp. | 7,598 | 249,670 | ||||||
TAL International Group, Inc. | 8,839 | 318,558 | ||||||
Taser International, Inc. * | 22,770 | 91,763 | ||||||
Tecumseh Products Co., Class A * | 5,603 | 25,718 | ||||||
Teledyne Technologies, Inc. * | 14,149 | 843,280 | ||||||
Tennant Co. | 6,900 | 283,176 | ||||||
Terex Corp. * | 41,745 | 1,059,906 | ||||||
Textainer Group Holdings Ltd. | 6,956 | 231,078 | ||||||
The Gorman-Rupp Co. | 6,942 | 200,416 | ||||||
The Greenbrier Cos., Inc. * | 9,207 | 232,753 | ||||||
The Keyw Holding Corp. *(a) | 6,278 | 44,574 | ||||||
The Manitowoc Co., Inc. | 50,370 | 792,824 | ||||||
The Middleby Corp. * | 7,245 | 708,126 | ||||||
The Shaw Group, Inc. * | 27,934 | 808,410 | ||||||
The Toro Co. | 11,730 | 794,590 | ||||||
Thermon Group Holdings, Inc. * | 5,175 | 104,224 | ||||||
Thomas & Betts Corp. * | 20,355 | 1,470,242 | ||||||
Titan International, Inc. | 16,229 | 399,883 | ||||||
Titan Machinery, Inc. * | 6,900 | 180,711 | ||||||
Tredegar Corp. | 9,103 | 211,554 | ||||||
Trex Co., Inc. * | 5,300 | 142,729 | ||||||
TriMas Corp. * | 10,218 | 247,582 | ||||||
Trinity Industries, Inc. | 31,050 | 1,079,298 | ||||||
Triumph Group, Inc. | 14,835 | 946,473 | ||||||
Tutor Perini Corp. * | 12,891 | 203,420 | ||||||
Twin Disc, Inc. (a) | 3,460 | 110,582 | ||||||
United Rentals, Inc. * | 23,805 | 992,192 | ||||||
Universal Forest Products, Inc. | 7,665 | 246,353 | ||||||
USG Corp. * | 24,913 | 355,010 | ||||||
Valmont Industries, Inc. | 8,627 | 958,201 | ||||||
Vicor Corp. | 8,280 | 67,234 | ||||||
Wabash National Corp. * | 25,875 | 273,240 | ||||||
Wabtec Corp. | 18,285 | 1,366,438 | ||||||
Watsco, Inc. | 10,005 | 714,257 | ||||||
Watts Water Technologies, Inc., Class A | 11,730 | 463,804 | ||||||
WESCO International, Inc. * | 16,560 | 1,041,458 | ||||||
Woodward, Inc. | 22,770 | 996,643 | ||||||
70,600,595 |
See financial notes 77
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Commercial & Professional Services 2.8% | ||||||||
ABM Industries, Inc. | 17,084 | 387,807 | ||||||
Acacia Research Corp. * | 16,273 | 642,783 | ||||||
Acco Brands Corp. * | 21,045 | 248,331 | ||||||
American Reprographics Co. * | 12,785 | 67,505 | ||||||
CBIZ, Inc. * | 16,126 | 104,819 | ||||||
CDI Corp. | 5,066 | 76,041 | ||||||
Cenveo, Inc. * | 20,248 | 78,967 | ||||||
Clean Harbors, Inc. * | 17,940 | 1,204,850 | ||||||
Consolidated Graphics, Inc. * | 3,537 | 165,143 | ||||||
CoStar Group, Inc. * | 9,660 | 579,407 | ||||||
Courier Corp. | 3,607 | 38,883 | ||||||
CRA International, Inc. * | 3,898 | 92,811 | ||||||
Deluxe Corp. | 19,665 | 485,136 | ||||||
EnergySolutions, Inc. * | 31,395 | 132,173 | ||||||
EnerNOC, Inc. *(a) | 8,810 | 69,335 | ||||||
Ennis, Inc. | 9,807 | 164,365 | ||||||
Exponent, Inc. * | 5,175 | 249,539 | ||||||
FTI Consulting, Inc. * | 16,215 | 649,735 | ||||||
Fuel Tech, Inc. * | 6,126 | 37,920 | ||||||
G&K Services, Inc., Class A | 7,348 | 244,909 | ||||||
Healthcare Services Group, Inc. | 23,512 | 458,014 | ||||||
Heidrick & Struggles International, Inc. | 6,964 | 141,508 | ||||||
Herman Miller, Inc. | 22,263 | 467,523 | ||||||
Higher One Holdings, Inc. *(a) | 12,614 | 185,426 | ||||||
Hill International, Inc. * | 9,862 | 52,860 | ||||||
HNI Corp. | 14,145 | 357,586 | ||||||
Huron Consulting Group, Inc. * | 8,625 | 329,303 | ||||||
ICF International, Inc. * | 7,393 | 191,700 | ||||||
Innerworkings, Inc. * | 11,040 | 125,856 | ||||||
Insperity, Inc. | 9,063 | 273,068 | ||||||
Interface, Inc., Class A | 21,425 | 262,456 | ||||||
KAR Auction Services, Inc. * | 11,767 | 189,096 | ||||||
Kelly Services, Inc., Class A | 11,042 | 165,630 | ||||||
Kforce, Inc. * | 15,870 | 223,767 | ||||||
Kimball International, Inc., Class B | 9,454 | 58,237 | ||||||
Knoll, Inc. | 18,513 | 285,470 | ||||||
Korn/Ferry International * | 18,115 | 289,297 | ||||||
McGrath Rentcorp | 9,034 | 286,830 | ||||||
Metalico, Inc. * | 15,870 | 79,667 | ||||||
Mine Safety Appliances Co. | 12,080 | 445,269 | ||||||
Mistras Group, Inc. * | 6,216 | 139,238 | ||||||
Mobile Mini, Inc. * | 14,582 | 314,971 | ||||||
Monster Worldwide, Inc. * | 50,037 | 347,257 | ||||||
Multi-Color Corp. | 5,001 | 109,372 | ||||||
Navigant Consulting, Inc. * | 20,010 | 270,335 | ||||||
On Assignment, Inc. * | 14,164 | 196,596 | ||||||
Pendrell Corp. * | 56,597 | 136,965 | ||||||
Quad Graphics, Inc. (a) | 8,281 | 123,967 | ||||||
Resources Connection, Inc. | 16,632 | 217,380 | ||||||
Rollins, Inc. | 28,156 | 570,441 | ||||||
RPX Corp. * | 6,900 | 116,265 | ||||||
Schawk, Inc. | 3,692 | 40,870 | ||||||
School Specialty, Inc. * | 5,175 | 16,560 | ||||||
Standard Parking Corp. * | 6,214 | 112,163 | ||||||
Steelcase, Inc., Class A | 32,085 | 281,706 | ||||||
Swisher Hygiene, Inc. *(a) | 44,291 | 130,658 | ||||||
Sykes Enterprises, Inc. * | 15,750 | 217,035 | ||||||
Team, Inc. * | 7,284 | 222,890 | ||||||
Tetra Tech, Inc. * | 23,355 | 573,599 | ||||||
The Advisory Board Co. * | 6,210 | 502,637 | ||||||
The Brink’s Co. | 17,622 | 444,956 | ||||||
The Corporate Executive Board Co. | 13,130 | 544,107 | ||||||
The Geo Group, Inc. * | 24,202 | 426,197 | ||||||
TMS International Corp., Class A * | 4,830 | 57,477 | ||||||
TrueBlue, Inc. * | 15,786 | 261,416 | ||||||
United Stationers, Inc. | 16,667 | 484,010 | ||||||
US Ecology, Inc. | 6,822 | 128,731 | ||||||
Viad Corp. | 8,085 | 157,334 | ||||||
17,734,155 | ||||||||
Consumer Durables & Apparel 3.5% | ||||||||
American Greetings Corp., Class A | 14,583 | 218,745 | ||||||
Beazer Homes USA, Inc. *(a) | 28,635 | 89,341 | ||||||
Blyth, Inc. | 2,419 | 154,332 | ||||||
Brookfield Residential Properties, Inc. * | 12,181 | 126,439 | ||||||
Brunswick Corp. | 34,155 | 816,646 | ||||||
Callaway Golf Co. | 24,497 | 160,455 | ||||||
Carter’s, Inc. * | 19,320 | 938,372 | ||||||
Cavco Industries, Inc. * | 2,415 | 108,892 | ||||||
Columbia Sportswear Co. | 5,535 | 276,363 | ||||||
Crocs, Inc. * | 34,155 | 671,146 | ||||||
CSS Industries, Inc. | 3,795 | 74,382 | ||||||
Deckers Outdoor Corp. * | 14,839 | 1,109,364 | ||||||
Ethan Allen Interiors, Inc. | 10,491 | 264,898 | ||||||
Furniture Brands International, Inc. * | 17,974 | 28,758 | ||||||
G-III Apparel Group Ltd. * | 6,210 | 154,753 | ||||||
Hanesbrands, Inc. * | 36,915 | 1,060,568 | ||||||
Helen of Troy Ltd. * | 11,385 | 370,012 | ||||||
Hovnanian Enterprises, Inc., Class A *(a) | 24,072 | 66,679 | ||||||
Iconix Brand Group, Inc. * | 27,830 | 505,393 | ||||||
iRobot Corp. * | 10,111 | 258,033 | ||||||
JAKKS Pacific, Inc. | 10,760 | 167,103 | ||||||
Jarden Corp. | 35,190 | 1,241,151 | ||||||
K-Swiss, Inc., Class A * | 10,350 | 34,466 | ||||||
KB HOME (a) | 25,530 | 291,553 | ||||||
Kenneth Cole Productions, Inc., Class A * | 4,485 | 70,370 | ||||||
La-Z-Boy, Inc. * | 19,803 | 282,985 | ||||||
Leapfrog Enterprises, Inc. * | 17,457 | 122,723 | ||||||
Liz Claiborne, Inc. * | 35,880 | 350,906 | ||||||
M.D.C Holdings, Inc. | 14,283 | 351,076 | ||||||
M/I Homes, Inc. * | 7,319 | 88,633 | ||||||
Maidenform Brands, Inc. * | 8,840 | 185,640 | ||||||
Marine Products Corp. | 5,865 | 36,480 | ||||||
Meritage Homes Corp. * | 10,174 | 263,405 | ||||||
Movado Group, Inc. | 7,318 | 156,605 | ||||||
National Presto Industries, Inc. (a) | 1,795 | 155,429 | ||||||
Oxford Industries, Inc. | 5,520 | 278,208 | ||||||
Perry Ellis International, Inc. * | 4,987 | 86,923 | ||||||
Polaris Industries, Inc. | 25,185 | 1,663,721 | ||||||
Pool Corp. | 18,630 | 678,132 | ||||||
PulteGroup, Inc. * | 128,340 | 1,131,959 | ||||||
Quiksilver, Inc. * | 50,715 | 237,346 | ||||||
Sealy Corp. * | 18,975 | 32,637 | ||||||
Skechers U.S.A., Inc., Class A * | 15,181 | 193,861 | ||||||
Skullcandy, Inc. *(a) | 6,210 | 87,685 | ||||||
Smith & Wesson Holding Corp. * | 24,495 | 128,109 | ||||||
Standard Pacific Corp. * | 40,068 | 175,498 |
78 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Steven Madden Ltd. * | 15,180 | 655,472 | ||||||
Sturm Ruger & Co., Inc. | 7,590 | 317,110 | ||||||
The Jones Group, Inc. | 32,255 | 317,712 | ||||||
The Ryland Group, Inc. | 17,114 | 310,277 | ||||||
The Warnaco Group, Inc. * | 16,560 | 972,238 | ||||||
True Religion Apparel, Inc. * | 10,005 | 263,832 | ||||||
Under Armour, Inc., Class A * | 14,839 | 1,324,232 | ||||||
UniFirst Corp. | 5,869 | 352,610 | ||||||
Universal Electronics, Inc. * | 5,434 | 106,289 | ||||||
Vera Bradley, Inc. *(a) | 9,051 | 332,172 | ||||||
Weyco Group, Inc. | 2,891 | 67,476 | ||||||
Wolverine World Wide, Inc. | 18,477 | 704,713 | ||||||
Zagg, Inc. *(a) | 8,625 | 90,563 | ||||||
21,760,871 | ||||||||
Consumer Services 4.0% | ||||||||
AFC Enterprises, Inc. * | 9,808 | 156,830 | ||||||
Ambassadors Group, Inc. | 6,779 | 35,725 | ||||||
American Public Education, Inc. * | 7,245 | 283,714 | ||||||
Ameristar Casinos, Inc. | 12,464 | 247,286 | ||||||
Bally Technologies, Inc. * | 17,250 | 740,715 | ||||||
Biglari Holdings, Inc. * | 690 | 283,252 | ||||||
BJ’s Restaurants, Inc. * | 9,307 | 462,093 | ||||||
Bob Evans Farms, Inc. | 12,075 | 444,360 | ||||||
Boyd Gaming Corp. * | 21,390 | 171,334 | ||||||
Bravo Brio Restaurant Group, Inc. * | 6,915 | 133,321 | ||||||
Bridgepoint Education, Inc. *(a) | 7,025 | 171,129 | ||||||
Brinker International, Inc. | 30,705 | 847,151 | ||||||
Buffalo Wild Wings, Inc. * | 7,249 | 626,966 | ||||||
Caesars Entertainment Corp. * | 682 | 7,720 | ||||||
Cambium Learning Group, Inc. * | 3,276 | 9,435 | ||||||
Capella Education Co. * | 4,830 | 187,404 | ||||||
Career Education Corp. * | 22,983 | 198,114 | ||||||
CEC Entertainment, Inc. | 7,590 | 289,634 | ||||||
Choice Hotels International, Inc. | 12,765 | 479,581 | ||||||
Churchill Downs, Inc. | 4,886 | 255,049 | ||||||
Coinstar, Inc. *(a) | 11,725 | 682,747 | ||||||
Corinthian Colleges, Inc. * | 29,325 | 131,669 | ||||||
Cracker Barrel Old Country Store, Inc. | 8,631 | 480,488 | ||||||
Denny’s Corp. * | 36,915 | 153,197 | ||||||
DineEquity, Inc. * | 6,555 | 349,906 | ||||||
Domino’s Pizza, Inc.��* | 21,045 | 809,391 | ||||||
Education Management Corp. *(a) | 10,447 | 188,777 | ||||||
Gaylord Entertainment Co. * | 16,207 | 482,320 | ||||||
Grand Canyon Education, Inc. * | 12,528 | 214,354 | ||||||
Hillenbrand, Inc. | 23,805 | 546,801 | ||||||
International Speedway Corp., Class A | 11,187 | 281,465 | ||||||
Interval Leisure Group, Inc. * | 15,411 | 207,894 | ||||||
Isle of Capri Casinos, Inc. * | 9,086 | 57,696 | ||||||
ITT Educational Services, Inc. *(a) | 10,350 | 710,424 | ||||||
Jack in the Box, Inc. * | 18,664 | 445,136 | ||||||
K12, Inc. * | 13,800 | 297,528 | ||||||
Krispy Kreme Doughnuts, Inc. * | 22,683 | 185,547 | ||||||
Life Time Fitness, Inc. * | 15,289 | 756,347 | ||||||
Lincoln Educational Services Corp. | 8,686 | 73,484 | ||||||
Matthews International Corp., Class A | 11,385 | 353,163 | ||||||
Morgans Hotel Group Co. * | 10,844 | 55,630 | ||||||
National American University Holdings, Inc. | 3,796 | 26,230 | ||||||
Orient-Express Hotels Ltd., Class A * | 35,451 | 350,610 | ||||||
P.F. Chang’s China Bistro, Inc. | 8,280 | 317,290 | ||||||
Panera Bread Co., Class A * | 11,385 | 1,759,893 | ||||||
Papa John’s International, Inc. * | 7,598 | 282,342 | ||||||
Peet’s Coffee & Tea, Inc. * | 4,830 | 311,004 | ||||||
Pinnacle Entertainment, Inc. * | 23,805 | 262,093 | ||||||
Red Robin Gourmet Burgers, Inc. * | 5,386 | 185,332 | ||||||
Regis Corp. | 22,132 | 383,105 | ||||||
Ruby Tuesday, Inc. * | 24,495 | 190,571 | ||||||
Scientific Games Corp., Class A * | 22,971 | 241,425 | ||||||
Service Corp. International | 86,940 | 985,900 | ||||||
Shuffle Master, Inc. * | 20,355 | 297,183 | ||||||
Six Flags Entertainment Corp. | 21,390 | 968,111 | ||||||
Sonic Corp. * | 24,036 | 198,537 | ||||||
Sotheby’s | 26,565 | 1,045,067 | ||||||
Speedway Motorsports, Inc. | 4,889 | 75,877 | ||||||
Steiner Leisure Ltd. * | 5,520 | 276,221 | ||||||
Stewart Enterprises, Inc., Class A | 30,777 | 191,433 | ||||||
Strayer Education, Inc. (a) | 4,830 | 496,983 | ||||||
Texas Roadhouse, Inc. | 23,866 | 399,278 | ||||||
The Cheesecake Factory, Inc. * | 20,173 | 597,928 | ||||||
The Marcus Corp. | 7,342 | 88,471 | ||||||
The Wendy’s Co. | 119,370 | 605,206 | ||||||
Universal Technical Institute, Inc. * | 8,368 | 108,700 | ||||||
Vail Resorts, Inc. | 14,145 | 595,505 | ||||||
WMS Industries, Inc. * | 21,490 | 473,425 | ||||||
25,208,497 | ||||||||
Diversified Financials 2.2% | ||||||||
Advance America Cash Advance Centers, Inc. | 19,665 | 203,926 | ||||||
Artio Global Investors, Inc. | 11,912 | 57,058 | ||||||
Asset Acceptance Capital Corp. * | 4,063 | 19,055 | ||||||
BGC Partners, Inc., Class A | 31,439 | 221,016 | ||||||
Calamos Asset Management, Inc., Class A | 8,084 | 99,110 | ||||||
Cardtronics, Inc. * | 16,338 | 434,427 | ||||||
Cash America International, Inc. | 11,389 | 528,222 | ||||||
Cohen & Steers, Inc. (a) | 8,625 | 284,108 | ||||||
Cowen Group, Inc., Class A * | 31,231 | 87,447 | ||||||
Credit Acceptance Corp. * | 2,491 | 239,784 | ||||||
DFC Global Corp. * | 16,307 | 292,058 | ||||||
Duff & Phelps Corp., Class A | 10,501 | 144,494 | ||||||
Encore Capital Group, Inc. * | 8,625 | 192,165 | ||||||
Epoch Holding Corp. | 7,073 | 176,471 | ||||||
Evercore Partners, Inc., Class A | 9,752 | 265,157 | ||||||
EZCORP, Inc., Class A * | 17,595 | 554,242 | ||||||
FBR Capital Markets Corp. * | 20,355 | 51,295 | ||||||
Federated Investors, Inc., Class B (a) | 40,365 | 827,079 | ||||||
Financial Engines, Inc. * | 15,394 | 354,832 | ||||||
First Cash Financial Services, Inc. * | 10,695 | 451,971 | ||||||
FX Alliance, Inc. * | 2,050 | 27,737 | ||||||
Gain Capital Holdings, Inc. | 3,497 | 18,324 | ||||||
GAMCO Investors, Inc., Class A | 1,455 | 67,090 | ||||||
GFI Group, Inc. | 25,185 | 96,710 | ||||||
Gleacher & Co., Inc. * | 27,945 | 42,476 | ||||||
Green Dot Corp., Class A * | 7,806 | 249,246 | ||||||
Greenhill & Co., Inc. | 11,040 | 485,318 |
See financial notes 79
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
HFF, Inc. * | 13,500 | 194,535 | ||||||
ICG Group, Inc. * | 14,982 | 129,894 | ||||||
Interactive Brokers Group, Inc., Class A | 14,865 | 235,759 | ||||||
INTL FCStone, Inc. * | 5,434 | 123,080 | ||||||
Investment Technology Group, Inc. * | 16,338 | 187,887 | ||||||
Janus Capital Group, Inc. | 71,395 | 629,704 | ||||||
KBW, Inc. | 11,389 | 188,260 | ||||||
Knight Capital Group, Inc., Class A * | 37,066 | 491,125 | ||||||
Life Partners Holdings, Inc. (a) | 3,481 | 14,794 | ||||||
MarketAxess Holdings, Inc. | 12,765 | 422,777 | ||||||
Nelnet, Inc., Class A | 10,779 | 284,781 | ||||||
Netspend Holdings, Inc. * | 12,765 | 109,907 | ||||||
NewStar Financial, Inc. * | 11,490 | 113,291 | ||||||
Oppenheimer Holdings, Inc., Class A | 4,021 | 67,312 | ||||||
PHH Corp. * | 21,554 | 293,565 | ||||||
PICO Holdings, Inc. * | 8,722 | 192,843 | ||||||
Piper Jaffray Cos., Inc. * | 7,401 | 181,917 | ||||||
Portfolio Recovery Associates, Inc. * | 6,555 | 457,080 | ||||||
Pzena Investment Management, Inc., Class A | 3,795 | 19,506 | ||||||
Safeguard Scientifics, Inc. * | 7,246 | 122,530 | ||||||
Stifel Financial Corp. * | 20,692 | 776,571 | ||||||
SWS Group, Inc. | 12,420 | 69,428 | ||||||
The First Marblehead Corp. * | 24,497 | 29,886 | ||||||
Virtus Investment Partners, Inc. * | 2,415 | 192,089 | ||||||
Waddell & Reed Financial, Inc., Class A | 33,465 | 1,056,155 | ||||||
Westwood Holdings Group, Inc. | 2,417 | 93,635 | ||||||
WisdomTree Investments, Inc. * | 26,910 | 190,523 | ||||||
World Acceptance Corp. * | 5,627 | 357,427 | ||||||
13,697,079 | ||||||||
Energy 6.2% | ||||||||
Abraxas Petroleum Corp. *(a) | 34,845 | 140,077 | ||||||
Alon USA Energy, Inc. | 4,668 | 43,879 | ||||||
Amyris, Inc. *(a) | 7,749 | 41,690 | ||||||
Apco Oil & Gas International, Inc. (a) | 3,450 | 259,371 | ||||||
Approach Resources, Inc. * | 7,986 | 275,996 | ||||||
ATP Oil & Gas Corp. *(a) | 17,038 | 136,304 | ||||||
Atwood Oceanics, Inc. * | 21,430 | 1,019,211 | ||||||
Basic Energy Services, Inc. * | 11,042 | 219,294 | ||||||
Berry Petroleum Co., Class A | 21,045 | 1,135,588 | ||||||
Bill Barrett Corp. * | 16,560 | 484,049 | ||||||
Bonanza Creek Energy, Inc. * | 3,795 | 70,587 | ||||||
BPZ Resources, Inc. *(a) | 40,710 | 130,679 | ||||||
Bristow Group, Inc. | 13,173 | 621,897 | ||||||
C&J Energy Services, Inc. *(a) | 4,308 | 87,539 | ||||||
Cal Dive International, Inc. * | 36,225 | 105,053 | ||||||
CARBO Ceramics, Inc. (a) | 7,592 | 695,807 | ||||||
Carrizo Oil & Gas, Inc. * | 13,373 | 376,717 | ||||||
Cheniere Energy, Inc. * | 27,630 | 415,555 | ||||||
Clayton Williams Energy, Inc. * | 3,450 | 304,808 | ||||||
Clean Energy Fuels Corp. *(a) | 19,416 | 364,827 | ||||||
Cloud Peak Energy, Inc. * | 22,871 | 405,274 | ||||||
Comstock Resources, Inc. * | 17,964 | 287,963 | ||||||
Contango Oil & Gas Co. * | 5,175 | 329,027 | ||||||
Crosstex Energy, Inc. | 17,657 | 242,431 | ||||||
CVR Energy, Inc. * | 34,155 | 929,358 | ||||||
Dawson Geophysical Co. * | 3,105 | 117,648 | ||||||
Delek US Holdings, Inc. | 5,703 | 75,337 | ||||||
DHT Holding, Inc. | 20,700 | 22,977 | ||||||
Dresser-Rand Group, Inc. * | 28,635 | 1,503,910 | ||||||
Dril-Quip, Inc. * | 13,800 | 965,862 | ||||||
Endeavour International Corp. *(a) | 14,071 | 162,801 | ||||||
Energy Partners Ltd. * | 11,449 | 195,091 | ||||||
Exterran Holdings, Inc. * | 24,252 | 349,229 | ||||||
FX Energy, Inc. * | 19,787 | 125,252 | ||||||
Gastar Exploration Ltd. * | 22,425 | 64,360 | ||||||
GeoResources, Inc. * | 8,282 | 265,355 | ||||||
Gevo, Inc. *(a) | 2,689 | 26,917 | ||||||
Global Geophysical Services, Inc. * | 8,161 | 87,976 | ||||||
GMX Resources, Inc. *(a) | 21,811 | 38,387 | ||||||
Goodrich Petroleum Corp. *(a) | 10,272 | 163,633 | ||||||
Green Plains Renewable Energy, Inc. * | 8,640 | 98,064 | ||||||
Gulf Island Fabrication, Inc. | 4,683 | 137,259 | ||||||
Gulfmark Offshore, Inc., Class A * | 10,185 | 511,694 | ||||||
Gulfport Energy Corp. * | 17,595 | 591,544 | ||||||
Hallador Energy Co. (a) | 2,108 | 21,291 | ||||||
Harvest Natural Resources, Inc. *(a) | 12,939 | 85,656 | ||||||
Helix Energy Solutions Group, Inc. * | 37,777 | 726,829 | ||||||
Hercules Offshore, Inc. * | 52,095 | 264,643 | ||||||
Hornbeck Offshore Services, Inc. * | 11,730 | 477,997 | ||||||
Houston American Energy Corp. *(a) | 7,300 | 79,132 | ||||||
Hyperdynamics Corp. *(a) | 51,750 | 70,380 | ||||||
ION Geophysical Corp. * | 44,850 | 321,126 | ||||||
Isramco, Inc. * | 408 | 33,701 | ||||||
James River Coal Co. *(a) | 13,665 | 78,300 | ||||||
Key Energy Services, Inc. * | 57,270 | 977,026 | ||||||
KiOR, Inc., Class A *(a) | 3,949 | 34,356 | ||||||
Kodiak Oil & Gas Corp. * | 94,530 | 915,996 | ||||||
Laredo Petroleum Holdings, Inc. * | 6,555 | 166,300 | ||||||
Lufkin Industries, Inc. | 11,725 | 933,779 | ||||||
Magnum Hunter Resources Corp. *(a) | 47,437 | 328,264 | ||||||
Matador Resources Co. * | 5,470 | 64,874 | ||||||
Matrix Service Co. * | 10,410 | 137,828 | ||||||
McMoRan Exploration Co. * | 41,083 | 575,162 | ||||||
Newpark Resources, Inc. * | 34,500 | 271,515 | ||||||
Northern Oil and Gas, Inc. * | 23,616 | 559,935 | ||||||
Oasis Petroleum, Inc. * | 26,902 | 862,747 | ||||||
Oil States International, Inc. * | 19,669 | 1,597,516 | ||||||
Overseas Shipholding Group, Inc. (a) | 10,473 | 92,686 | ||||||
OYO Geospace Corp. * | 2,070 | 227,804 | ||||||
Parker Drilling Co. * | 44,505 | 281,717 | ||||||
Patriot Coal Corp. * | 34,156 | 246,948 | ||||||
Penn Virginia Corp. | 17,443 | 85,296 | ||||||
Petroleum Development Corp. * | 9,097 | 296,016 | ||||||
PetroQuest Energy, Inc. * | 21,601 | 131,766 | ||||||
PHI, Inc. * | 5,177 | 114,412 | ||||||
Pioneer Drilling Co. * | 23,148 | 230,554 | ||||||
Quicksilver Resources, Inc. * | 45,408 | 251,560 | ||||||
Recovery Energy, Inc. *(a) | 4,140 | 17,140 | ||||||
Renewable Energy Group, Inc. * | 3,076 | 29,437 | ||||||
Rentech, Inc. * | 84,180 | 149,840 | ||||||
Resolute Energy Corp. * | 19,101 | 213,167 | ||||||
Rex Energy Corp. * | 17,940 | 206,310 | ||||||
Rosetta Resources, Inc. * | 20,355 | 1,038,919 | ||||||
RPC, Inc. (a) | 18,373 | 294,152 | ||||||
Sanchez Energy Corp. * | 4,140 | 99,070 | ||||||
SEACOR Holdings, Inc. * | 8,282 | 818,924 | ||||||
SemGroup Corp., Class A * | 14,145 | 401,294 |
80 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Ship Finance International Ltd. (a) | 16,098 | 221,026 | ||||||
Solazyme, Inc. *(a) | 4,272 | 58,868 | ||||||
Stone Energy Corp. * | 19,320 | 617,274 | ||||||
Superior Energy Services, Inc. * | 59,329 | 1,740,713 | ||||||
Swift Energy Co. * | 16,560 | 497,297 | ||||||
Targa Resources Corp. | 12,765 | 567,149 | ||||||
Teekay Corp. | 16,207 | 466,762 | ||||||
Tesco Corp. * | 12,420 | 190,274 | ||||||
Tesoro Corp. * | 54,510 | 1,446,150 | ||||||
TETRA Technologies, Inc. * | 28,445 | 258,565 | ||||||
Unit Corp. * | 18,975 | 902,641 | ||||||
USEC, Inc. *(a) | 55,200 | 73,968 | ||||||
VAALCO Energy, Inc. * | 21,391 | 168,775 | ||||||
Venoco, Inc. * | 10,831 | 118,058 | ||||||
Voyager Oil & Gas, Inc. *(a) | 20,700 | 67,068 | ||||||
W&T Offshore, Inc. | 14,174 | 357,894 | ||||||
Warren Resources, Inc. * | 26,787 | 104,469 | ||||||
Western Refining, Inc. | 20,824 | 377,956 | ||||||
Willbros Group, Inc. * | 18,630 | 78,246 | ||||||
World Fuel Services Corp. | 27,255 | 1,135,443 | ||||||
38,886,238 | ||||||||
Food & Staples Retailing 0.9% | ||||||||
Arden Group, Inc., Class A | 690 | 61,783 | ||||||
Casey’s General Stores, Inc. | 14,490 | 742,323 | ||||||
Chefs’ Warehouse Holdings, LLC * | 5,520 | 115,920 | ||||||
Fresh Market, Inc. * | 11,730 | 528,085 | ||||||
Ingles Markets, Inc., Class A | 4,963 | 88,689 | ||||||
Nash Finch Co. | 4,706 | 126,168 | ||||||
PriceSmart, Inc. | 6,900 | 445,947 | ||||||
Rite Aid Corp. * | 228,045 | 351,189 | ||||||
Roundy’s, Inc. * | 7,180 | 71,800 | ||||||
Ruddick Corp. | 16,215 | 664,166 | ||||||
Spartan Stores, Inc. | 8,625 | 153,870 | ||||||
SUPERVALU, Inc. (a) | 80,730 | 527,167 | ||||||
Susser Holdings Corp. * | 2,992 | 75,817 | ||||||
The Andersons, Inc. | 7,000 | 301,630 | ||||||
The Pantry, Inc. * | 9,233 | 114,766 | ||||||
United Natural Foods, Inc. * | 18,630 | 848,038 | ||||||
Village Super Market, Inc., Class A | 1,915 | 57,622 | ||||||
Weis Markets, Inc. | 4,485 | 192,227 | ||||||
Winn-Dixie Stores, Inc. * | 20,355 | 192,965 | ||||||
5,660,172 | ||||||||
Food, Beverage & Tobacco 1.5% | ||||||||
Alico, Inc. | 1,450 | 33,727 | ||||||
Alliance One International, Inc. * | 37,950 | 140,036 | ||||||
B&G Foods, Inc. | 18,368 | 427,607 | ||||||
Cal-Maine Foods, Inc. | 4,926 | 189,651 | ||||||
Calavo Growers, Inc. | 4,742 | 130,405 | ||||||
Central European Distribution Corp. *(a) | 24,497 | 106,807 | ||||||
Chiquita Brands International, Inc. * | 17,377 | 166,645 | ||||||
Coca-Cola Bottling Co. Consolidated | 2,070 | 133,391 | ||||||
Darling International, Inc. * | 43,856 | 701,257 | ||||||
Dean Foods Co. * | 70,380 | 862,859 | ||||||
Diamond Foods, Inc. (a) | 8,629 | 206,406 | ||||||
Dole Food Co., Inc. * | 13,920 | 133,354 | ||||||
Flowers Foods, Inc. | 52,440 | 1,003,702 | ||||||
Fresh Del Monte Produce, Inc. | 14,492 | 325,490 | ||||||
Harbinger Group, Inc. * | 3,625 | 16,530 | ||||||
J&J Snack Foods Corp. | 5,520 | 276,938 | ||||||
Lancaster Colony Corp. | 7,590 | 494,640 | ||||||
Limoneira Co. (a) | 3,481 | 63,842 | ||||||
National Beverage Corp. * | 3,890 | 62,279 | ||||||
Pilgrim’s Pride Corp. * | 21,635 | 135,651 | ||||||
Primo Water Corp. * | 5,175 | 13,766 | ||||||
Sanderson Farms, Inc. | 7,935 | 390,402 | ||||||
Seneca Foods Corp., Class A * | 3,883 | 99,482 | ||||||
Smart Balance, Inc. * | 21,105 | 126,419 | ||||||
Snyders-Lance, Inc. | 23,951 | 537,700 | ||||||
Star Scientific, Inc. *(a) | 43,393 | 162,724 | ||||||
The Boston Beer Co., Inc., Class A *(a) | 3,450 | 326,094 | ||||||
The Hain Celestial Group, Inc. * | 14,137 | 577,355 | ||||||
Tootsie Roll Industries, Inc. (a) | 11,097 | 258,005 | ||||||
TreeHouse Foods, Inc. * | 13,804 | 795,110 | ||||||
Universal Corp. | 9,315 | 427,931 | ||||||
Vector Group Ltd. (a) | 15,040 | 272,976 | ||||||
9,599,181 | ||||||||
Health Care Equipment & Services 7.2% | ||||||||
Abaxis, Inc. * | 8,282 | 219,970 | ||||||
ABIOMED, Inc. * | 12,573 | 262,524 | ||||||
Accretive Health, Inc. *(a) | 14,759 | 383,586 | ||||||
Accuray, Inc. * | 23,199 | 157,289 | ||||||
Air Methods Corp. * | 4,485 | 404,682 | ||||||
Alere, Inc. * | 34,155 | 868,562 | ||||||
Align Technology, Inc. * | 22,964 | 588,108 | ||||||
Alimera Sciences, Inc. *(a) | 3,590 | 13,498 | ||||||
Allscripts Healthcare Solutions, Inc. * | 70,725 | 1,366,407 | ||||||
Almost Family, Inc. * | 3,306 | 75,641 | ||||||
Alphatec Holdings, Inc. * | 21,045 | 39,565 | ||||||
Amedisys, Inc. * | 11,122 | 142,918 | ||||||
AMERIGROUP Corp. * | 18,287 | 1,242,236 | ||||||
AMN Healthcare Services, Inc. * | 15,263 | 81,504 | ||||||
AmSurg Corp. * | 11,939 | 311,966 | ||||||
Analogic Corp. | 4,830 | 275,068 | ||||||
AngioDynamics, Inc. * | 9,438 | 122,883 | ||||||
ArthroCare Corp. * | 11,040 | 288,144 | ||||||
Assisted Living Concepts, Inc., Class A | 7,717 | 123,858 | ||||||
athenahealth, Inc. * | 13,455 | 950,865 | ||||||
Atrion Corp. | 692 | 142,552 | ||||||
Bio-Reference Labs, Inc. * | 9,237 | 186,033 | ||||||
BioScrip, Inc. * | 20,520 | 130,097 | ||||||
Brookdale Senior Living, Inc. * | 38,643 | 720,305 | ||||||
Cantel Medical Corp. | 8,280 | 167,173 | ||||||
Catalyst Health Solutions, Inc. * | 16,905 | 1,048,448 | ||||||
Centene Corp. * | 19,320 | 942,816 | ||||||
Chemed Corp. | 8,280 | 511,870 | ||||||
Community Health Systems, Inc. * | 34,990 | 883,148 | ||||||
Computer Programs & Systems, Inc. | 4,489 | 273,111 | ||||||
Conceptus, Inc. * | 10,226 | 137,744 | ||||||
CONMED Corp. * | 10,695 | 319,139 | ||||||
CorVel Corp. * | 2,512 | 113,894 | ||||||
Cross Country Healthcare, Inc. * | 12,075 | 68,344 | ||||||
CryoLife, Inc. * | 10,524 | 57,356 | ||||||
Cyberonics, Inc. * | 10,538 | 392,330 | ||||||
Dexcom, Inc. * | 25,899 | 279,450 |
See financial notes 81
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Emeritus Corp. * | 11,552 | 213,250 | ||||||
Endologix, Inc. * | 19,665 | 260,168 | ||||||
ePocrates, Inc. * | 5,764 | 53,605 | ||||||
ExamWorks Group, Inc. * | 12,987 | 134,026 | ||||||
Gentiva Health Services, Inc. * | 11,444 | 89,835 | ||||||
Greatbatch, Inc. * | 8,987 | 222,428 | ||||||
Greenway Medical Technologies *(a) | 2,734 | 40,463 | ||||||
Haemonetics Corp. * | 10,005 | 670,635 | ||||||
Hanger Orthopedic Group, Inc. * | 12,664 | 262,018 | ||||||
Health Management Associates, Inc., Class A * | 96,463 | 711,897 | ||||||
Health Net, Inc. * | 34,155 | 1,289,010 | ||||||
HEALTHSOUTH Corp. * | 36,570 | 744,565 | ||||||
Healthways, Inc. * | 13,237 | 105,234 | ||||||
Hill-Rom Holdings, Inc. | 24,142 | 820,104 | ||||||
HMS Holdings Corp. * | 32,430 | 1,044,895 | ||||||
ICU Medical, Inc. * | 4,830 | 221,600 | ||||||
Insulet Corp. * | 15,395 | 303,589 | ||||||
Integra LifeSciences Holdings Corp. * | 8,280 | 261,648 | ||||||
Invacare Corp. | 11,942 | 197,162 | ||||||
IPC The Hospitalist Co. * | 6,210 | 225,858 | ||||||
IRIS International, Inc. * | 7,319 | 81,753 | ||||||
Kensey Nash Corp. | 3,289 | 74,266 | ||||||
Kindred Healthcare, Inc. * | 19,939 | 205,172 | ||||||
Landauer, Inc. | 3,795 | 203,564 | ||||||
LHC Group, Inc. * | 6,031 | 102,648 | ||||||
LifePoint Hospitals, Inc. * | 18,630 | 726,011 | ||||||
Lincare Holdings, Inc. | 33,810 | 908,137 | ||||||
Magellan Health Services, Inc. * | 11,040 | 521,750 | ||||||
MAKO Surgical Corp. *(a) | 14,145 | 553,069 | ||||||
Masimo Corp. * | 20,879 | 455,162 | ||||||
MedAssets, Inc. * | 20,459 | 292,155 | ||||||
MedCath Corp. | 7,690 | 59,674 | ||||||
Medidata Solutions, Inc. * | 8,809 | 175,651 | ||||||
MEDNAX, Inc. * | 18,630 | 1,385,886 | ||||||
Merge Healthcare, Inc. * | 22,187 | 144,881 | ||||||
Meridian Bioscience, Inc. | 15,934 | 287,131 | ||||||
Merit Medical Systems, Inc. * | 15,914 | 199,243 | ||||||
MModal, Inc. * | 11,906 | 122,513 | ||||||
Molina Healthcare, Inc. * | 11,640 | 395,294 | ||||||
MWI Veterinary Supply, Inc. * | 4,832 | 418,306 | ||||||
National Healthcare Corp. | 4,140 | 185,555 | ||||||
Natus Medical, Inc. * | 11,516 | 120,573 | ||||||
Navidea Biopharmaceuticals, Inc. *(a) | 32,327 | 96,981 | ||||||
Neogen Corp. * | 9,034 | 313,480 | ||||||
NuVasive, Inc. * | 15,058 | 236,260 | ||||||
NxStage Medical, Inc. * | 18,101 | 362,020 | ||||||
Omnicell, Inc. * | 12,314 | 183,725 | ||||||
OraSure Technologies, Inc. * | 17,087 | 171,383 | ||||||
Orthofix International N.V. * | 6,935 | 271,921 | ||||||
Owens & Minor, Inc. | 24,840 | 744,206 | ||||||
Palomar Medical Technologies, Inc. * | 6,769 | 74,730 | ||||||
PharMerica Corp. * | 11,199 | 137,300 | ||||||
PSS World Medical, Inc. * | 20,026 | 485,230 | ||||||
Quality Systems, Inc. | 14,490 | 621,186 | ||||||
Quidel Corp. * | 11,051 | 156,703 | ||||||
RTI Biologics, Inc. * | 20,719 | 76,660 | ||||||
Select Medical Holdings Corp. * | 21,390 | 180,104 | ||||||
Sirona Dental Systems, Inc. * | 21,390 | 1,067,361 | ||||||
Skilled Healthcare Group, Inc., Class A * | 9,109 | 59,482 | ||||||
STERIS Corp. | 20,692 | 649,315 | ||||||
Sun Healthcare Group, Inc. * | 9,660 | 43,084 | ||||||
Sunrise Senior Living, Inc. *(a) | 20,727 | 160,427 | ||||||
SurModics, Inc. * | 6,581 | 93,450 | ||||||
Symmetry Medical, Inc. * | 13,553 | 98,124 | ||||||
Team Health Holdings, Inc. * | 11,056 | 239,805 | ||||||
Teleflex, Inc. | 15,525 | 920,167 | ||||||
Tenet Healthcare Corp. * | 165,255 | 933,691 | ||||||
The Cooper Cos., Inc. | 17,940 | 1,425,871 | ||||||
The Ensign Group, Inc. | 6,555 | 179,673 | ||||||
Thoratec Corp. * | 22,770 | 785,565 | ||||||
Triple-S Management Corp., Class B * | 7,801 | 184,650 | ||||||
Unilife Corp. *(a) | 24,190 | 89,745 | ||||||
Universal American Corp. | 13,895 | 157,569 | ||||||
Vanguard Health Systems, Inc. * | 13,800 | 137,448 | ||||||
VCA Antech, Inc. * | 33,120 | 728,309 | ||||||
Volcano Corp. * | 20,355 | 570,551 | ||||||
WellCare Health Plans, Inc. * | 16,215 | 1,100,350 | ||||||
West Pharmaceutical Services, Inc. | 12,787 | 531,939 | ||||||
Wright Medical Group, Inc. * | 15,629 | 258,816 | ||||||
Zeltiq Aesthetics, Inc. *(a) | 2,415 | 26,758 | ||||||
Zoll Medical Corp. * | 8,625 | 630,919 | ||||||
44,968,426 | ||||||||
Household & Personal Products 0.5% | ||||||||
Central Garden & Pet Co., Class A * | 18,491 | 176,959 | ||||||
Elizabeth Arden, Inc. * | 10,695 | 397,319 | ||||||
Inter Parfums, Inc. | 6,555 | 110,583 | ||||||
Medifast, Inc. *(a) | 5,654 | 91,764 | ||||||
Nature’s Sunshine Products, Inc. * | 3,837 | 56,596 | ||||||
Nu Skin Enterprises, Inc., Class A | 22,425 | 1,295,268 | ||||||
Prestige Brands Holdings, Inc., Class A * | 18,720 | 308,880 | ||||||
Revlon, Inc., Class A * | 4,580 | 69,433 | ||||||
Spectrum Brands Holdings, Inc. * | 9,393 | 266,949 | ||||||
USANA Health Sciences, Inc. *(a) | 3,450 | 127,995 | ||||||
WD-40 Co. | 5,902 | 254,258 | ||||||
3,156,004 | ||||||||
Insurance 3.0% | ||||||||
American Equity Investment Life Holding Co. | 22,278 | 269,564 | ||||||
American National Insurance Co. | 5,520 | 397,992 | ||||||
AMERISAFE, Inc. * | 7,129 | 160,830 | ||||||
AmTrust Financial Services, Inc. | 9,149 | 247,114 | ||||||
Argo Group International Holdings Ltd. | 11,618 | 346,797 | ||||||
Arthur J. Gallagher & Co. | 42,780 | 1,459,654 | ||||||
Aspen Insurance Holdings Ltd. | 27,255 | 723,075 | ||||||
Baldwin & Lyons, Inc., Class B | 3,834 | 80,667 | ||||||
Citizens, Inc. * | 14,704 | 157,039 | ||||||
CNO Financial Group, Inc. * | 85,560 | 634,855 | ||||||
Crawford & Co., Class B | 9,852 | 43,349 | ||||||
Delphi Financial Group, Inc., Class A | 18,630 | 830,153 | ||||||
Donegal Group, Inc., Class A | 3,529 | 48,594 | ||||||
eHealth, Inc. * | 7,374 | 110,831 | ||||||
EMC Insurance Group, Inc. | 1,964 | 41,381 |
82 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Employers Holdings, Inc. | 14,146 | 244,584 | ||||||
Endurance Specialty Holdings Ltd. | 15,525 | 597,092 | ||||||
Enstar Group Ltd. * | 3,797 | 368,233 | ||||||
FBL Financial Group, Inc., Class A | 5,056 | 171,752 | ||||||
First American Financial Corp. | 39,537 | 608,870 | ||||||
Flagstone Reinsurance Holdings S.A. | 20,700 | 163,944 | ||||||
Global Indemnity plc * | 5,870 | 112,293 | ||||||
Greenlight Capital Re Ltd., Class A * | 11,767 | 277,113 | ||||||
Hanover Insurance Group, Inc. | 17,940 | 732,311 | ||||||
Harleysville Group, Inc. | 4,830 | 273,426 | ||||||
Hilltop Holdings, Inc. * | 15,650 | 128,956 | ||||||
Horace Mann Educators Corp. | 15,252 | 264,317 | ||||||
Infinity Property & Casualty Corp. | 4,830 | 264,829 | ||||||
Kansas City Life Insurance Co. | 1,532 | 49,055 | ||||||
Kemper Corp. | 16,905 | 483,821 | ||||||
Maiden Holdings Ltd. | 23,805 | 205,913 | ||||||
MBIA, Inc. *(a) | 58,305 | 628,528 | ||||||
Meadowbrook Insurance Group, Inc. | 20,355 | 193,780 | ||||||
Mercury General Corp. | 10,005 | 429,014 | ||||||
Montpelier Re Holdings Ltd. | 23,805 | 410,636 | ||||||
National Financial Partners Corp. * | 15,927 | 243,046 | ||||||
National Interstate Corp. | 2,681 | 64,746 | ||||||
National Western Life Insurance Co., Class A | 1,035 | 140,512 | ||||||
OneBeacon Insurance Group Ltd., Class A | 8,627 | 131,562 | ||||||
Platinum Underwriters Holdings Ltd. | 14,490 | 515,264 | ||||||
Presidential Life Corp. | 7,433 | 80,425 | ||||||
Primerica, Inc. | 18,285 | 457,491 | ||||||
ProAssurance Corp. | 11,385 | 999,148 | ||||||
Protective Life Corp. | 33,465 | 929,323 | ||||||
RLI Corp. | 6,585 | 461,345 | ||||||
Safety Insurance Group, Inc. | 5,520 | 235,594 | ||||||
Seabright Holdings, Inc. | 7,792 | 63,739 | ||||||
Selective Insurance Group, Inc. | 20,700 | 355,626 | ||||||
StanCorp Financial Group, Inc. | 17,250 | 685,860 | ||||||
State Auto Financial Corp. | 5,756 | 80,469 | ||||||
Stewart Information Services Corp. (a) | 6,821 | 89,628 | ||||||
Symetra Financial Corp. | 29,670 | 294,920 | ||||||
The Navigators Group, Inc. * | 4,537 | 213,284 | ||||||
The Phoenix Cos., Inc. * | 41,745 | 86,412 | ||||||
Tower Group, Inc. | 13,914 | 320,718 | ||||||
United Fire Group, Inc. | 8,790 | 176,591 | ||||||
Universal Insurance Holdings, Inc. | 9,564 | 38,543 | ||||||
18,824,608 | ||||||||
Materials 5.7% | ||||||||
A. Schulman, Inc. | 11,761 | 303,904 | ||||||
A.M. Castle & Co. * | 7,075 | 81,009 | ||||||
AbitibiBowater, Inc. * | 27,712 | 423,994 | ||||||
AK Steel Holding Corp. | 40,818 | 323,279 | ||||||
AMCOL International Corp. | 10,218 | 299,694 | ||||||
American Vanguard Corp. | 9,232 | 152,513 | ||||||
Balchem Corp. | 11,385 | 310,241 | ||||||
Boise, Inc. | 45,605 | 375,329 | ||||||
Buckeye Technologies, Inc. | 15,196 | 519,095 | ||||||
Cabot Corp. | 23,805 | 964,341 | ||||||
Calgon Carbon Corp. * | 20,955 | 316,630 | ||||||
Carpenter Technology Corp. | 16,900 | 866,970 | ||||||
Century Aluminum Co. * | 24,303 | 238,412 | ||||||
Chemtura Corp. * | 37,260 | 578,275 | ||||||
Clearwater Paper Corp. * | 8,675 | 297,639 | ||||||
Coeur d’Alene Mines Corp. * | 35,190 | 1,000,804 | ||||||
Commercial Metals Co. | 44,012 | 584,919 | ||||||
Compass Minerals International, Inc. | 12,422 | 895,005 | ||||||
Cytec Industries, Inc. | 19,320 | 1,148,767 | ||||||
Deltic Timber Corp. | 4,830 | 314,964 | ||||||
Domtar Corp. | 14,145 | 1,356,081 | ||||||
Eagle Materials, Inc. | 17,135 | 537,696 | ||||||
Ferro Corp. * | 32,775 | 181,901 | ||||||
FutureFuel Corp. | 5,261 | 58,134 | ||||||
General Moly, Inc. *(a) | 24,630 | 88,914 | ||||||
Georgia Gulf Corp. * | 12,599 | 406,444 | ||||||
Glatfelter | 17,599 | 274,720 | ||||||
Globe Specialty Metals, Inc. | 20,076 | 285,481 | ||||||
Graphic Packaging Holding Co. * | 48,645 | 256,846 | ||||||
Greif, Inc., Class A | 15,525 | 795,035 | ||||||
H.B. Fuller Co. | 18,875 | 568,704 | ||||||
Hawkins, Inc. | 3,236 | 125,395 | ||||||
Haynes International, Inc. | 4,830 | 305,691 | ||||||
Headwaters, Inc. * | 23,115 | 70,270 | ||||||
Hecla Mining Co. | 106,950 | 543,306 | ||||||
Horsehead Holding Corp. * | 16,784 | 191,338 | ||||||
Innophos Holdings, Inc. | 8,316 | 418,960 | ||||||
Intrepid Potash, Inc. * | 19,680 | 497,707 | ||||||
Kaiser Aluminum Corp. | 6,266 | 302,898 | ||||||
KapStone Paper and Packaging Corp. * | 16,095 | 323,510 | ||||||
Koppers Holdings, Inc. | 7,961 | 299,572 | ||||||
Kraton Performance Polymers, Inc. * | 12,420 | 345,152 | ||||||
Kronos Worldwide, Inc. | 7,599 | 177,589 | ||||||
Louisiana-Pacific Corp. * | 49,808 | 406,931 | ||||||
LSB Industries, Inc. * | 7,245 | 291,394 | ||||||
Materion Corp. * | 7,694 | 225,819 | ||||||
McEwen Mining, Inc. *(a) | 73,830 | 386,131 | ||||||
Metals USA Holdings Corp. * | 4,977 | 65,099 | ||||||
Minerals Technologies, Inc. | 6,900 | 445,533 | ||||||
Myers Industries, Inc. | 13,110 | 174,625 | ||||||
Neenah Paper, Inc. | 5,394 | 150,439 | ||||||
NewMarket Corp. | 3,795 | 692,322 | ||||||
NL Industries, Inc. | 2,898 | 42,890 | ||||||
Noranda Aluminium Holding Corp. | 8,545 | 102,540 | ||||||
Olin Corp. | 27,600 | 580,428 | ||||||
Olympic Steel, Inc. | 3,834 | 89,869 | ||||||
OM Group, Inc. * | 12,265 | 337,042 | ||||||
Omnova Solutions, Inc. * | 17,250 | 87,975 | ||||||
Packaging Corp. of America | 38,985 | 1,155,515 | ||||||
PolyOne Corp. | 34,749 | 466,679 | ||||||
Quaker Chemical Corp. | 4,831 | 199,086 | ||||||
Rock-Tenn Co., Class A | 27,600 | 1,945,524 | ||||||
RPM International, Inc. | 50,359 | 1,202,069 | ||||||
RTI International Metals, Inc. * | 11,232 | 253,169 | ||||||
Schnitzer Steel Industries, Inc., Class A | 8,979 | 405,492 | ||||||
Schweitzer-Mauduit International, Inc. | 6,210 | 435,010 | ||||||
Sensient Technologies Corp. | 19,320 | 714,647 | ||||||
Silgan Holdings, Inc. | 17,940 | 762,809 | ||||||
Solutia, Inc. | 46,920 | 1,318,921 | ||||||
Spartech Corp. * | 9,712 | 56,330 | ||||||
Stepan Co. | 3,105 | 271,470 |
See financial notes 83
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Stillwater Mining Co. * | 43,470 | 617,274 | ||||||
STR Holdings, Inc. * | 16,215 | 115,127 | ||||||
SunCoke Energy, Inc. * | 26,565 | 380,676 | ||||||
Texas Industries, Inc. (a) | 8,785 | 297,197 | ||||||
TPC Group, Inc. * | 5,523 | 191,869 | ||||||
United States Lime & Minerals, Inc. * | 725 | 44,153 | ||||||
US Silica Holdings, Inc. *(a) | 4,786 | 80,979 | ||||||
W.R. Grace & Co. * | 24,150 | 1,375,584 | ||||||
Wausau Paper Corp. | 18,474 | 172,547 | ||||||
Westlake Chemical Corp. | 7,590 | 457,146 | ||||||
Worthington Industries, Inc. | 20,700 | 349,209 | ||||||
Zep, Inc. | 8,370 | 126,973 | ||||||
Zoltek Cos., Inc. * | 10,519 | 127,175 | ||||||
36,008,795 | ||||||||
Media 1.4% | ||||||||
Arbitron, Inc. | 10,188 | 340,687 | ||||||
Ascent Media Corp., Class A * | 5,865 | 288,793 | ||||||
Belo Corp., Class A | 35,190 | 252,312 | ||||||
Cinemark Holdings, Inc. | 37,260 | 779,479 | ||||||
Crown Media Holdings, Inc., Class A *(a) | 12,452 | 15,939 | ||||||
Digital Domain Media Group, Inc. *(a) | 2,760 | 15,484 | ||||||
Digital Generation, Inc. * | 9,048 | 90,480 | ||||||
DreamWorks Animation SKG, Inc., Class A * | 26,220 | 452,557 | ||||||
Entercom Communications Corp., Class A * | 10,005 | 70,035 | ||||||
Entravision Communications Corp., Class A | 19,100 | 31,706 | ||||||
Fisher Communications, Inc. * | 2,298 | 65,884 | ||||||
Harte-Hanks, Inc. | 16,800 | 146,832 | ||||||
Journal Communications, Inc., Class A * | 15,733 | 74,732 | ||||||
Knology, Inc. * | 12,891 | 229,846 | ||||||
Lamar Advertising Co., Class A * | 22,483 | 735,194 | ||||||
LIN TV Corp., Class A * | 12,255 | 50,491 | ||||||
Live Nation Entertainment, Inc. * | 59,714 | 556,534 | ||||||
Madison Square Garden, Inc., Class A * | 22,109 | 704,172 | ||||||
Martha Stewart Living Omnimedia, Class A (a) | 10,695 | 48,127 | ||||||
Meredith Corp. (a) | 14,490 | 476,721 | ||||||
Morningstar, Inc. | 9,752 | 583,852 | ||||||
National CineMedia, Inc. | 20,900 | 332,519 | ||||||
Pandora Media, Inc. * | 23,460 | 306,388 | ||||||
ReachLocal, Inc. * | 3,522 | 27,472 | ||||||
Regal Entertainment Group, Class A (a) | 29,238 | 404,069 | ||||||
Scholastic Corp. | 9,315 | 284,759 | ||||||
Sinclair Broadcast Group, Inc. | 18,352 | 209,580 | ||||||
The Dolan Media Co. * | 10,352 | 92,961 | ||||||
The E.W. Scripps Co., Class A * | 12,653 | 120,456 | ||||||
The McClatchy Co., Class A *(a) | 19,320 | 49,073 | ||||||
The New York Times Co., Class A * | 48,990 | 322,844 | ||||||
Valassis Communications, Inc. * | 17,681 | 441,671 | ||||||
World Wrestling Entertainment, Inc., Class A (a) | 11,051 | 101,006 | ||||||
8,702,655 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 5.1% | ||||||||
Achillion Pharmaceuticals, Inc. * | 17,498 | 183,729 | ||||||
Acorda Therapeutics, Inc. * | 15,525 | 406,134 | ||||||
Aedea Biosciences, Inc. * | 9,315 | 198,596 | ||||||
Affymax, Inc. * | 14,145 | 144,420 | ||||||
Affymetrix, Inc. * | 23,690 | 98,787 | ||||||
Akorn, Inc. * | 25,451 | 318,901 | ||||||
Alkermes plc * | 37,260 | 656,149 | ||||||
Allos Therapeutics, Inc. * | 20,355 | 30,329 | ||||||
Alnylam Pharmaceuticals, Inc. * | 16,905 | 225,513 | ||||||
AMAG Pharmaceuticals, Inc. * | 8,491 | 134,243 | ||||||
Amylin Pharmaceuticals, Inc. * | 50,840 | 868,856 | ||||||
Arena Pharmaceuticals, Inc. * | 60,375 | 107,467 | ||||||
ARIAD Pharmaceuticals, Inc. * | 57,960 | 831,146 | ||||||
ArQule, Inc. * | 20,155 | 143,100 | ||||||
Array BioPharma, Inc. * | 30,280 | 85,087 | ||||||
Auxilium Pharmaceuticals, Inc. * | 18,118 | 358,012 | ||||||
AVANIR Pharmaceuticals, Inc. *(a) | 46,643 | 128,735 | ||||||
AVEO Pharmaceuticals, Inc. * | 16,273 | 212,200 | ||||||
Bio-Rad Laboratories, Inc., Class A * | 7,603 | 774,898 | ||||||
BioCryst Pharmaceuticals, Inc. *(a) | 14,698 | 68,493 | ||||||
BioMarin Pharmaceutical, Inc. * | 44,160 | 1,578,720 | ||||||
Bruker Corp. * | 35,880 | 575,156 | ||||||
Cadence Pharmaceuticals, Inc. *(a) | 20,768 | 77,880 | ||||||
Cell Therapeutics, Inc. *(a) | 72,462 | 92,751 | ||||||
Cepheid, Inc. * | 24,495 | 989,353 | ||||||
Charles River Laboratories International, Inc. * | 20,355 | 715,071 | ||||||
ChemoCentryx, Inc. * | 1,708 | 17,490 | ||||||
Clovis Oncology, Inc. *(a) | 3,450 | 86,216 | ||||||
Codexis, Inc. * | 6,231 | 24,550 | ||||||
Cubist Pharmaceuticals, Inc. * | 23,460 | 1,005,496 | ||||||
Cytori Therapeutics, Inc. *(a) | 19,665 | 63,911 | ||||||
Dendreon Corp. *(a) | 57,256 | 644,703 | ||||||
Durect Corp. * | 30,360 | 22,466 | ||||||
Dyax Corp. * | 37,260 | 55,517 | ||||||
Emergent Biosolutions, Inc. * | 8,802 | 134,407 | ||||||
Endocyte, Inc. * | 11,730 | 41,642 | ||||||
Enzo Biochem, Inc. * | 12,302 | 31,739 | ||||||
Enzon Pharmaceuticals, Inc. * | 13,885 | 98,167 | ||||||
eResearchTechnology, Inc. * | 17,851 | 113,889 | ||||||
Exact Sciences Corp. * | 19,568 | 183,744 | ||||||
Exelixis, Inc. * | 48,990 | 278,263 | ||||||
Fluidigm Corp. * | 6,103 | 88,005 | ||||||
Genomic Health, Inc. * | 7,592 | 221,535 | ||||||
Geron Corp. * | 50,025 | 100,050 | ||||||
Halozyme Therapeutics, Inc. * | 32,303 | 371,808 | ||||||
Hi-Tech Pharmacal Co., Inc. * | 3,795 | 151,496 | ||||||
Idenix Pharmaceuticals, Inc. * | 25,546 | 300,676 | ||||||
ImmunoGen, Inc. * | 28,897 | 397,912 | ||||||
Immunomedics, Inc. * | 25,238 | 89,847 | ||||||
Impax Laboratories, Inc. * | 24,873 | 580,785 | ||||||
Incyte Corp. *(a) | 37,950 | 643,632 | ||||||
InterMune, Inc. * | 24,840 | 333,353 | ||||||
Ironwood Pharmaceuticals, Inc. * | 17,970 | 240,618 | ||||||
Isis Pharmaceuticals, Inc. * | 35,880 | 326,867 | ||||||
Jazz Pharmaceuticals plc * | 5,883 | 308,681 | ||||||
Lexicon Pharmaceuticals, Inc. * | 65,550 | 111,435 | ||||||
Luminex Corp. * | 15,608 | 350,712 | ||||||
MannKind Corp. *(a) | 34,500 | 80,730 | ||||||
MAP Pharmaceuticals, Inc. * | 9,550 | 153,277 |
84 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Medicis Pharmaceutical Corp., Class A | 24,495 | 855,855 | ||||||
Medivation, Inc. * | 13,455 | 881,437 | ||||||
Metabolix, Inc. *(a) | 11,784 | 32,406 | ||||||
Micromet, Inc. * | 33,950 | 373,110 | ||||||
Momenta Pharmaceuticals, Inc. * | 17,011 | 249,381 | ||||||
Myriad Genetics, Inc. * | 33,120 | 801,504 | ||||||
Nektar Therapeutics *(a) | 43,272 | 310,260 | ||||||
Neurocrine Biosciences, Inc. * | 24,495 | 192,776 | ||||||
Novavax, Inc. * | 37,260 | 47,320 | ||||||
NPS Pharmaceuticals, Inc. * | 32,284 | 220,177 | ||||||
Obagi Medical Products, Inc. * | 7,146 | 81,107 | ||||||
Onyx Pharmaceuticals, Inc. * | 25,185 | 965,089 | ||||||
Opko Health, Inc. *(a) | 58,650 | 289,731 | ||||||
Optimer Pharmaceuticals, Inc. *(a) | 16,130 | 206,303 | ||||||
Osiris Therapeutics, Inc. *(a) | 5,911 | 30,855 | ||||||
Pacific Biosciences of California, Inc. * | 16,632 | 69,355 | ||||||
Pain Therapeutics, Inc. * | 13,116 | 48,136 | ||||||
Par Pharmaceutical Cos., Inc. * | 14,145 | 524,921 | ||||||
PAREXEL International Corp. * | 22,590 | 553,003 | ||||||
PDL BioPharma, Inc. | 53,130 | 338,969 | ||||||
Pharmacyclics, Inc. * | 20,700 | 521,433 | ||||||
POZEN, Inc. * | 7,391 | 32,225 | ||||||
Progenics Pharmaceuticals, Inc. * | 11,132 | 108,537 | ||||||
Questcor Pharmaceuticals, Inc. * | 22,425 | 872,332 | ||||||
Rigel Pharmaceuticals, Inc. * | 26,487 | 264,870 | ||||||
Sagent Pharmaceuticals, Inc. * | 5,520 | 119,729 | ||||||
Salix Pharmaceuticals Ltd. * | 20,355 | 1,003,909 | ||||||
Sangamo BioSciences, Inc. *(a) | 18,382 | 96,873 | ||||||
Santarus, Inc. * | 20,378 | 92,109 | ||||||
Savient Pharmaceuticals, Inc. *(a) | 24,150 | 48,542 | ||||||
Seattle Genetics, Inc. *(a) | 38,491 | 710,544 | ||||||
Sequenom, Inc. * | 42,780 | 184,810 | ||||||
SIGA Technologies, Inc. *(a) | 13,800 | 39,330 | ||||||
Spectrum Pharmaceuticals, Inc. * | 22,080 | 313,315 | ||||||
Sucampo Pharmaceuticals, Inc., Class A * | 4,830 | 35,259 | ||||||
Synergy Pharmaceuticals, Inc. * | 9,315 | 41,731 | ||||||
Targacept, Inc. * | 10,572 | 72,101 | ||||||
The Medicines Co. * | 20,548 | 440,344 | ||||||
Theravance, Inc. * | 27,255 | 509,668 | ||||||
Vanda Pharmaceuticals, Inc. * | 11,080 | 51,411 | ||||||
ViroPharma, Inc. * | 26,910 | 862,735 | ||||||
VIVUS, Inc. * | 33,340 | 750,150 | ||||||
XenoPort, Inc. * | 13,349 | 53,396 | ||||||
ZIOPHARM Oncology, Inc. *(a) | 26,220 | 128,740 | ||||||
32,083,133 | ||||||||
Real Estate 8.5% | ||||||||
Acadia Realty Trust | 16,215 | 343,596 | ||||||
Alexander’s, Inc. | 1,035 | 392,731 | ||||||
American Assets Trust, Inc. | 11,187 | 240,744 | ||||||
American Campus Communities, Inc. | 26,565 | 1,093,150 | ||||||
American Capital Mortgage Investment Corp. | 3,242 | 69,898 | ||||||
Anworth Mortgage Asset Corp. | 50,370 | 327,405 | ||||||
Apartment Investment & Management Co., Class A | 46,230 | 1,148,353 | ||||||
ARMOUR Residential REIT, Inc. | 46,230 | 326,846 | ||||||
Ashford Hospitality Trust | 25,554 | 215,676 | ||||||
Associated Estates Realty Corp. | 16,024 | 239,078 | ||||||
AV Homes, Inc. * | 3,720 | 38,948 | ||||||
BioMed Realty Trust, Inc. | 58,413 | 1,075,967 | ||||||
Brandywine Realty Trust | 51,060 | 551,959 | ||||||
Campus Crest Communities, Inc. | 11,947 | 126,519 | ||||||
CapLease, Inc. | 25,875 | 104,276 | ||||||
Capstead Mortgage Corp. | 31,654 | 420,998 | ||||||
CBL & Associates Properties, Inc. | 53,820 | 948,847 | ||||||
Cedar Realty Trust, Inc. | 20,355 | 96,890 | ||||||
Chesapeake Lodging Trust | 12,082 | 213,006 | ||||||
Cogdell Spencer, Inc. | 17,633 | 74,588 | ||||||
Colonial Properties Trust | 33,810 | 693,781 | ||||||
Colony Financial, Inc. | 12,420 | 207,166 | ||||||
CommonWealth REIT | 32,430 | 603,198 | ||||||
Coresite Realty Corp. | 7,662 | 163,584 | ||||||
Corporate Office Properties Trust | 27,945 | 685,211 | ||||||
Cousins Properties, Inc. | 32,085 | 237,108 | ||||||
CreXus Investment Corp. | 25,530 | 284,659 | ||||||
CubeSmart | 43,470 | 490,342 | ||||||
DCT Industrial Trust, Inc. | 94,185 | 533,087 | ||||||
DiamondRock Hospitality Co. | 63,825 | 635,697 | ||||||
Douglas Emmett, Inc. | 48,300 | 1,017,681 | ||||||
Duke Realty Corp. | 95,910 | 1,331,231 | ||||||
DuPont Fabros Technology, Inc. | 23,806 | 545,157 | ||||||
EastGroup Properties, Inc. | 10,073 | 485,418 | ||||||
Education Realty Trust, Inc. | 33,120 | 340,474 | ||||||
Entertainment Properties Trust | 17,595 | 800,572 | ||||||
Equity Lifestyle Properties, Inc. | 15,180 | 1,009,622 | ||||||
Equity One, Inc. | 23,236 | 441,949 | ||||||
Extra Space Storage, Inc. | 35,880 | 946,156 | ||||||
FelCor Lodging Trust, Inc. * | 47,265 | 181,498 | ||||||
First Industrial Realty Trust, Inc. * | 30,360 | 358,855 | ||||||
First Potomac Realty Trust | 19,464 | 257,509 | ||||||
Forest City Enterprises, Inc., Class A * | 49,697 | 726,570 | ||||||
Forestar Group, Inc. * | 13,916 | 218,342 | ||||||
Franklin Street Properties Corp. | 28,697 | 295,866 | ||||||
Getty Realty Corp. | 10,898 | 185,266 | ||||||
Glimcher Realty Trust | 40,369 | 399,653 | ||||||
Government Properties Income Trust | 13,924 | 324,847 | ||||||
Hatteras Financial Corp. | 29,670 | 845,002 | ||||||
Healthcare Realty Trust, Inc. | 29,196 | 603,481 | ||||||
Hersha Hospitality Trust | 56,580 | 284,597 | ||||||
Highwoods Properties, Inc. | 27,600 | 883,200 | ||||||
Home Properties, Inc. | 18,630 | 1,073,647 | ||||||
Hospitality Properties Trust | 46,920 | 1,160,332 | ||||||
Hudson Pacific Properties, Inc. | 8,794 | 134,460 | ||||||
Inland Real Estate Corp. | 29,528 | 256,008 | ||||||
Invesco Mortgage Capital | 44,505 | 762,371 | ||||||
Investors Real Estate Trust | 30,705 | 234,279 | ||||||
iStar Financial, Inc. *(a) | 28,998 | 204,436 | ||||||
Kennedy-Wilson Holdings, Inc. | 13,110 | 177,247 | ||||||
Kilroy Realty Corp. | 26,191 | 1,148,213 | ||||||
Kite Realty Group Trust | 22,770 | 111,801 | ||||||
LaSalle Hotel Properties | 33,465 | 892,846 | ||||||
Lexington Realty Trust | 52,785 | 456,590 | ||||||
LTC Properties, Inc. | 11,430 | 352,730 | ||||||
Mack-Cali Realty Corp. | 34,155 | 976,833 | ||||||
Medical Properties Trust, Inc. | 50,644 | 492,260 | ||||||
MFA Financial, Inc. | 136,620 | 997,326 |
See financial notes 85
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Mid-America Apartment Communities, Inc. | 14,145 | 882,224 | ||||||
National Health Investors, Inc. | 9,307 | 438,639 | ||||||
National Retail Properties, Inc. | 36,570 | 974,590 | ||||||
NorthStar Realty Finance Corp. | 36,225 | 193,441 | ||||||
OMEGA Healthcare Investors, Inc. | 39,163 | 797,750 | ||||||
Parkway Properties, Inc. | 8,851 | 88,421 | ||||||
Pebblebrook Hotel Trust | 19,665 | 421,421 | ||||||
Pennsylvania REIT | 21,045 | 282,424 | ||||||
Pennymac Mortgage Investment Trust | 10,410 | 187,380 | ||||||
Post Properties, Inc. | 19,145 | 836,062 | ||||||
Potlatch Corp. | 15,525 | 478,480 | ||||||
PS Business Parks, Inc. | 7,245 | 452,233 | ||||||
Ramco-Gershenson Properties Trust | 15,304 | 169,415 | ||||||
Redwood Trust, Inc. | 26,811 | 310,203 | ||||||
Resource Capital Corp. | 27,962 | 161,341 | ||||||
Retail Opportunity Investments Corp. | 18,285 | 212,655 | ||||||
RLJ Lodging Trust | 24,495 | 429,152 | ||||||
Sabra Healthcare REIT, Inc. | 14,490 | 206,917 | ||||||
Saul Centers, Inc. | 2,965 | 112,255 | ||||||
Senior Housing Properties Trust | 62,445 | 1,336,323 | ||||||
Sovran Self Storage, Inc. | 10,695 | 508,119 | ||||||
Starwood Property Trust, Inc. | 35,535 | 701,461 | ||||||
Strategic Hotels & Resorts, Inc. * | 55,747 | 347,304 | ||||||
Summit Hotel Properties, Inc. | 10,788 | 99,357 | ||||||
Sun Communities, Inc. | 9,660 | 399,827 | ||||||
Sunstone Hotel Investors, Inc. * | 44,505 | 399,655 | ||||||
Tanger Factory Outlet Centers, Inc. | 33,465 | 979,855 | ||||||
Taubman Centers, Inc. | 22,080 | 1,525,066 | ||||||
Tejon Ranch Co. * | 5,764 | 168,424 | ||||||
The Howard Hughes Corp. * | 10,005 | 555,778 | ||||||
The St. Joe Co. * | 35,190 | 566,911 | ||||||
Two Harbors Investment Corp. | 66,930 | 688,040 | ||||||
Universal Health Realty Income Trust | 4,830 | 182,526 | ||||||
Urstadt Biddle Properties, Class A | 7,937 | 150,962 | ||||||
Walter Investment Management Corp. | 10,438 | 212,726 | ||||||
Washington REIT | 25,519 | 755,873 | ||||||
Weingarten Realty Investors | 46,230 | 1,151,127 | ||||||
Winthrop Realty Trust | 9,662 | 110,050 | ||||||
52,972,020 | ||||||||
Retailing 5.1% | ||||||||
1-800-FLOWERS.COM, Inc., Class A * | 9,051 | 24,709 | ||||||
Aaron’s, Inc. | 27,600 | 771,144 | ||||||
Aeropostale, Inc. * | 31,050 | 557,968 | ||||||
America’s Car-Mart, Inc. * | 3,831 | 170,901 | ||||||
Ann, Inc. * | 19,665 | 469,797 | ||||||
Asbury Automotive Group, Inc. * | 12,571 | 325,966 | ||||||
Ascena Retail Group, Inc. * | 24,487 | 945,198 | ||||||
Barnes & Noble, Inc. *(a) | 16,273 | 216,594 | ||||||
bebe stores, Inc. | 13,491 | 120,879 | ||||||
Big 5 Sporting Goods Corp. | 7,590 | 59,126 | ||||||
Big Lots, Inc. * | 25,185 | 1,104,362 | ||||||
Blue Nile, Inc. *(a) | 5,327 | 189,908 | ||||||
Brown Shoe Co., Inc. | 16,223 | 174,884 | ||||||
Cabela’s, Inc. * | 18,409 | 653,151 | ||||||
Charming Shoppes, Inc. * | 44,850 | 253,403 | ||||||
Chico’s FAS, Inc. | 66,145 | 992,836 | ||||||
Christopher & Banks Corp. | 9,365 | 20,041 | ||||||
Citi Trends, Inc. * | 5,622 | 60,942 | ||||||
Coldwater Creek, Inc. * | 31,050 | 29,187 | ||||||
Collective Brands, Inc. * | 23,124 | 416,694 | ||||||
Core-Mark Holding Co., Inc. | 4,215 | 168,937 | ||||||
Dillard’s, Inc., Class A | 12,765 | 780,452 | ||||||
DSW, Inc., Class A | 9,660 | 544,824 | ||||||
Express, Inc. * | 27,600 | 656,880 | ||||||
Foot Locker, Inc. | 59,340 | 1,730,948 | ||||||
Francesca’s Holdings Corp. * | 5,865 | 134,602 | ||||||
Fred’s, Inc., Class A | 14,541 | 201,393 | ||||||
Gaiam, Inc., Class A * | 6,346 | 22,973 | ||||||
Genesco, Inc. * | 9,319 | 634,997 | ||||||
GNC Holdings, Inc., Class A * | 21,390 | 692,394 | ||||||
Gordmans Stores, Inc. * | 1,960 | 29,733 | ||||||
Group 1 Automotive, Inc. | 8,970 | 462,583 | ||||||
Haverty Furniture Cos., Inc. | 7,682 | 84,502 | ||||||
hhgregg, Inc. *(a) | 8,852 | 101,178 | ||||||
Hibbett Sports, Inc. * | 10,522 | 515,052 | ||||||
HomeAway, Inc. *(a) | 11,385 | 301,475 | ||||||
Hot Topic, Inc. | 15,281 | 136,307 | ||||||
HSN, Inc. | 15,705 | 583,598 | ||||||
Jos. A. Bank Clothiers, Inc. * | 10,350 | 532,921 | ||||||
Kirkland’s, Inc. * | 6,567 | 104,744 | ||||||
Lithia Motors, Inc. | 8,470 | 199,977 | ||||||
Lumber Liquidators Holdings, Inc. * | 9,174 | 200,819 | ||||||
MarineMax, Inc. * | 8,828 | 71,330 | ||||||
Mattress Firm Holding Corp. *(a) | 2,070 | 68,807 | ||||||
Monro Muffler Brake, Inc. | 11,730 | 538,055 | ||||||
New York & Co., Inc. * | 9,849 | 25,706 | ||||||
NutriSystem, Inc. (a) | 10,701 | 120,600 | ||||||
Office Depot, Inc. * | 105,225 | 347,242 | ||||||
OfficeMax, Inc. * | 33,140 | 185,584 | ||||||
Orbitz Worldwide, Inc. * | 8,625 | 30,964 | ||||||
Overstock.com, Inc. * | 4,514 | 28,709 | ||||||
Pacific Sunwear Of California, Inc. * | 25,185 | 52,889 | ||||||
Penske Automotive Group, Inc. | 17,595 | 423,688 | ||||||
PetMed Express, Inc. (a) | 7,134 | 86,892 | ||||||
Pier 1 Imports, Inc. * | 41,745 | 716,762 | ||||||
RadioShack Corp. (a) | 37,448 | 265,506 | ||||||
Rent-A-Center, Inc. | 22,425 | 794,293 | ||||||
Rue21, Inc. * | 5,619 | 149,915 | ||||||
Saks, Inc. *(a) | 42,780 | 498,387 | ||||||
Sally Beauty Holdings, Inc. * | 54,088 | 1,287,294 | ||||||
Select Comfort Corp. * | 21,066 | 623,343 | ||||||
Shoe Carnival, Inc. * | 3,497 | 91,551 | ||||||
Shutterfly, Inc. * | 11,385 | 311,494 | ||||||
Signet Jewelers Ltd. | 33,120 | 1,553,328 | ||||||
Sonic Automotive, Inc., Class A | 13,182 | 225,808 | ||||||
Stage Stores, Inc. | 13,112 | 196,024 | ||||||
Stamps.com, Inc. * | 4,963 | 128,294 | ||||||
Stein Mart, Inc. * | 9,828 | 70,467 | ||||||
Systemax, Inc. * | 4,141 | 79,921 | ||||||
Teavana Holdings, Inc. *(a) | 2,664 | 62,471 | ||||||
The Buckle, Inc. | 10,350 | 464,922 | ||||||
The Cato Corp., Class A | 10,768 | 291,920 | ||||||
The Children’s Place Retail Stores, Inc. * | 9,744 | 494,508 | ||||||
The Finish Line, Inc., Class A | 20,028 | 460,444 | ||||||
The Men’s Wearhouse, Inc. | 20,010 | 774,987 | ||||||
The Pep Boys-Manny, Moe & Jack | 20,619 | 310,110 |
86 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
The Talbots, Inc. * | 26,350 | 77,996 | ||||||
The Wet Seal, Inc., Class A * | 36,580 | 128,030 | ||||||
Ulta Salon, Cosmetics & Fragrance, Inc. * | 18,979 | 1,579,812 | ||||||
Vitamin Shoppe, Inc. * | 10,388 | 440,763 | ||||||
VOXX International Corp. * | 7,320 | 93,623 | ||||||
Williams-Sonoma, Inc. | 35,880 | 1,384,968 | ||||||
Zumiez, Inc. * | 8,280 | 260,158 | ||||||
32,176,544 | ||||||||
Semiconductors & Semiconductor Equipment 3.6% | ||||||||
Advanced Energy Industries, Inc. * | 14,583 | 174,996 | ||||||
Amkor Technology, Inc. * | 40,865 | 261,127 | ||||||
ANADIGICS, Inc. * | 25,530 | 65,612 | ||||||
Applied Micro Circuits Corp. * | 24,840 | 168,415 | ||||||
ATMI, Inc. * | 12,167 | 268,039 | ||||||
Brooks Automation, Inc. | 25,453 | 304,163 | ||||||
Cabot Microelectronics Corp. * | 9,315 | 468,079 | ||||||
Cavium Networks, Inc. * | 18,622 | 665,364 | ||||||
CEVA, Inc. * | 9,034 | 222,688 | ||||||
Cirrus Logic, Inc. * | 25,185 | 593,862 | ||||||
Cohu, Inc. | 9,178 | 102,977 | ||||||
Cymer, Inc. * | 10,833 | 498,101 | ||||||
Cypress Semiconductor Corp. * | 58,650 | 1,011,712 | ||||||
Diodes, Inc. * | 13,132 | 326,199 | ||||||
DSP Group, Inc. * | 7,709 | 49,261 | ||||||
Entegris, Inc. * | 51,279 | 463,562 | ||||||
Entropic Communications, Inc. * | 32,474 | 200,202 | ||||||
Exar Corp. * | 14,145 | 99,015 | ||||||
Fairchild Semiconductor International, Inc. * | 48,990 | 714,764 | ||||||
FEI Co. * | 14,492 | 645,184 | ||||||
FormFactor, Inc. * | 19,732 | 100,831 | ||||||
GT Advanced Technologies, Inc. * | 48,655 | 416,487 | ||||||
Hittite Microwave Corp. * | 10,695 | 611,540 | ||||||
Inphi Corp. * | 7,705 | 110,644 | ||||||
Integrated Device Technology, Inc. * | 54,932 | 379,580 | ||||||
Intermolecular, Inc. * | 3,795 | 23,833 | ||||||
International Rectifier Corp. * | 26,910 | 604,129 | ||||||
Intersil Corp., Class A | 47,756 | 540,598 | ||||||
IXYS Corp. * | 10,366 | 123,666 | ||||||
Kopin Corp. * | 25,530 | 91,908 | ||||||
Kulicke & Soffa Industries, Inc. * | 27,726 | 312,195 | ||||||
Lattice Semiconductor Corp. * | 45,540 | 300,109 | ||||||
LTX-Credence Corp. * | 18,630 | 125,753 | ||||||
MaxLinear, Inc., Class A * | 5,351 | 29,431 | ||||||
MEMC Electronic Materials, Inc. * | 86,464 | 339,804 | ||||||
Micrel, Inc. | 19,324 | 206,187 | ||||||
Microsemi Corp. * | 33,120 | 692,870 | ||||||
MIPS Technologies, Inc. * | 20,355 | 117,245 | ||||||
MKS Instruments, Inc. | 20,042 | 600,258 | ||||||
Monolithic Power Systems, Inc. * | 13,168 | 244,793 | ||||||
Nanometrics, Inc. * | 7,940 | 139,347 | ||||||
Novellus Systems, Inc. * | 26,565 | 1,234,741 | ||||||
OmniVision Technologies, Inc. * | 22,330 | 365,542 | ||||||
Pericom Semiconductor Corp. * | 8,975 | 69,018 | ||||||
Photronics, Inc. * | 22,085 | 154,816 | ||||||
PMC-Sierra, Inc. * | 88,320 | 606,758 | ||||||
Power Integrations, Inc. | 11,385 | 424,660 | ||||||
Rambus, Inc. * | 39,091 | 276,764 | ||||||
RF Micro Devices, Inc. * | 105,915 | 505,215 | ||||||
Rubicon Technology, Inc. * | 6,916 | 62,037 | ||||||
Rudolph Technologies, Inc. * | 12,075 | 119,180 | ||||||
Semtech Corp. * | 24,948 | 716,257 | ||||||
Sigma Designs, Inc. * | 11,866 | 68,230 | ||||||
Silicon Image, Inc. * | 29,862 | 154,387 | ||||||
Silicon Laboratories, Inc. * | 16,215 | 726,432 | ||||||
Spansion, Inc., Class A * | 18,694 | 239,283 | ||||||
Standard Microsystems Corp. * | 8,851 | 226,497 | ||||||
SunPower Corp. * | 17,250 | 129,892 | ||||||
Supertex, Inc. * | 4,580 | 84,547 | ||||||
Teradyne, Inc. * | 71,070 | 1,166,969 | ||||||
Tessera Technologies, Inc. * | 19,572 | 328,810 | ||||||
TriQuint Semiconductor, Inc. * | 62,156 | 400,285 | ||||||
Ultratech, Inc. * | 9,688 | 263,610 | ||||||
Veeco Instruments, Inc. * | 14,839 | 401,247 | ||||||
Volterra Semiconductor Corp. * | 9,430 | 289,784 | ||||||
22,429,491 | ||||||||
Software & Services 8.2% | ||||||||
Accelrys, Inc. * | 20,779 | 164,985 | ||||||
ACI Worldwide, Inc. * | 14,544 | 549,472 | ||||||
Actuate Corp. * | 17,940 | 108,358 | ||||||
Acxiom Corp. * | 31,740 | 445,630 | ||||||
Advent Software, Inc. * | 12,651 | 325,510 | ||||||
Ancestry.com, Inc. *(a) | 11,177 | 254,612 | ||||||
Angie’s List, Inc. *(a) | 3,105 | 49,680 | ||||||
AOL, Inc. * | 37,260 | 669,190 | ||||||
Archipelago Learning, Inc. * | 3,796 | 34,695 | ||||||
Ariba, Inc. * | 36,915 | 1,161,715 | ||||||
Aspen Technology, Inc. * | 36,225 | 744,786 | ||||||
Bankrate, Inc. * | 16,560 | 394,790 | ||||||
Blackbaud, Inc. | 17,081 | 538,906 | ||||||
Booz Allen Hamilton Holding Corp. | 6,400 | 117,824 | ||||||
Bottomline Technologies, Inc. * | 13,800 | 387,780 | ||||||
BroadSoft, Inc. *(a) | 8,970 | 326,239 | ||||||
CACI International, Inc., Class A * | 10,005 | 591,696 | ||||||
Cadence Design Systems, Inc. * | 102,810 | 1,210,074 | ||||||
Carbonite, Inc. *(a) | 5,488 | 53,179 | ||||||
Cass Information Systems, Inc. | 3,583 | 137,910 | ||||||
CIBER, Inc. * | 23,805 | 104,266 | ||||||
CommVault Systems, Inc. * | 15,870 | 818,416 | ||||||
Compuware Corp. * | 83,835 | 755,353 | ||||||
comScore, Inc. * | 13,800 | 303,462 | ||||||
Concur Technologies, Inc. * | 17,940 | 1,057,563 | ||||||
Constant Contact, Inc. * | 11,547 | 349,181 | ||||||
Convergys Corp. * | 40,365 | 519,901 | ||||||
CoreLogic, Inc. * | 41,055 | 631,426 | ||||||
Cornerstone OnDemand, Inc. * | 10,350 | 214,659 | ||||||
CSG Systems International, Inc. * | 13,035 | 208,690 | ||||||
DealerTrack Holdings, Inc. * | 15,870 | 441,980 | ||||||
Deltek, Inc. * | 6,631 | 73,140 | ||||||
Demand Media, Inc. * | 12,983 | 89,063 | ||||||
Dice Holdings, Inc. * | 19,594 | 173,995 | ||||||
Digital River, Inc. * | 14,494 | 255,819 | ||||||
DST Systems, Inc. | 14,490 | 767,970 | ||||||
EarthLink, Inc. | 41,745 | 311,835 | ||||||
Ebix, Inc. (a) | 13,110 | 305,463 | ||||||
Echo Global Logistics, Inc. * | 6,050 | 112,530 | ||||||
Envestnet, Inc. * | 8,413 | 104,742 | ||||||
EPAM Systems, Inc. * | 3,076 | 43,402 | ||||||
EPIQ Systems, Inc. | 12,127 | 139,339 |
See financial notes 87
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Euronet Worldwide, Inc. * | 18,632 | 359,411 | ||||||
Exlservice Holdings, Inc. * | 9,315 | 259,143 | ||||||
Fair Isaac Corp. | 14,835 | 600,521 | ||||||
FalconStor Software, Inc. * | 12,789 | 36,449 | ||||||
FleetCor Technologies, Inc. * | 12,412 | 459,616 | ||||||
Forrester Research, Inc. * | 5,385 | 173,559 | ||||||
Fortinet, Inc. * | 45,885 | 1,241,189 | ||||||
Gartner, Inc. * | 34,155 | 1,375,080 | ||||||
Global Cash Access Holdings, Inc. * | 18,174 | 101,047 | ||||||
Guidewire Software, Inc. * | 3,076 | 69,579 | ||||||
Heartland Payment Systems, Inc. | 13,662 | 386,908 | ||||||
iGate Corp. * | 11,852 | 206,580 | ||||||
Imperva, Inc. * | 1,725 | 63,911 | ||||||
InfoSpace, Inc. * | 14,301 | 166,035 | ||||||
Interactive Intelligence Group * | 5,246 | 146,888 | ||||||
Internap Network Services Corp. * | 20,010 | 149,675 | ||||||
IntraLinks Holdings, Inc. * | 13,633 | 80,162 | ||||||
j2 Global, Inc. | 17,595 | 520,284 | ||||||
Jack Henry & Associates, Inc. | 32,775 | 1,105,829 | ||||||
JDA Software Group, Inc. * | 16,287 | 408,152 | ||||||
Jive Software, Inc. * | 4,140 | 90,293 | ||||||
Kenexa Corp. * | 9,660 | 268,451 | ||||||
Keynote Systems, Inc. | 5,725 | 113,870 | ||||||
KIT Digital, Inc. *(a) | 16,215 | 163,934 | ||||||
Lender Processing Services, Inc. | 32,430 | 714,757 | ||||||
Limelight Networks, Inc. * | 26,952 | 101,340 | ||||||
Lionbridge Technologies, Inc. * | 21,825 | 56,527 | ||||||
Liquidity Services, Inc. * | 8,280 | 358,110 | ||||||
LivePerson, Inc. * | 17,792 | 268,303 | ||||||
LogMeIn, Inc. * | 8,350 | 307,781 | ||||||
LoopNet, Inc. * | 11,496 | 211,526 | ||||||
Manhattan Associates, Inc. * | 8,280 | 383,861 | ||||||
ManTech International Corp., Class A | 8,363 | 280,495 | ||||||
Marchex, Inc., Class B | 8,777 | 37,653 | ||||||
MAXIMUS, Inc. | 13,110 | 546,818 | ||||||
Mentor Graphics Corp. * | 36,225 | 549,171 | ||||||
MICROS Systems, Inc., Class A * | 30,705 | 1,594,511 | ||||||
MicroStrategy, Inc., Class A * | 3,153 | 427,515 | ||||||
ModusLink Global Solutions, Inc. | 16,389 | 91,123 | ||||||
MoneyGram International, Inc. * | 3,948 | 70,748 | ||||||
Monotype Imaging Holdings, Inc. * | 13,380 | 187,721 | ||||||
Motricity, Inc. *(a) | 13,800 | 18,354 | ||||||
Move, Inc. * | 14,506 | 127,073 | ||||||
NCI, Inc., Class A * | 2,805 | 20,196 | ||||||
NetScout Systems, Inc. * | 13,800 | 292,974 | ||||||
NetSuite, Inc. * | 11,385 | 543,065 | ||||||
NeuStar, Inc., Class A * | 25,530 | 894,827 | ||||||
NIC, Inc. | 24,699 | 298,611 | ||||||
OpenTable, Inc. *(a) | 8,970 | 435,045 | ||||||
OPNET Technologies, Inc. | 5,520 | 157,596 | ||||||
Parametric Technology Corp. * | 45,195 | 1,206,707 | ||||||
Pegasystems, Inc. (a) | 6,230 | 174,938 | ||||||
Perficient, Inc. * | 11,551 | 139,536 | ||||||
Progress Software Corp. * | 24,495 | 568,039 | ||||||
PROS Holdings, Inc. * | 7,592 | 133,088 | ||||||
QLIK Technologies, Inc. * | 30,015 | 908,554 | ||||||
Quest Software, Inc. * | 23,115 | 462,762 | ||||||
QuinStreet, Inc. * | 10,609 | 110,864 | ||||||
RealD, Inc. *(a) | 14,837 | 175,077 | ||||||
RealNetworks, Inc. | 8,970 | 91,046 | ||||||
RealPage, Inc. * | 11,949 | 236,949 | ||||||
Responsys, Inc. * | 7,245 | 87,447 | ||||||
Rosetta Stone, Inc. * | 4,580 | 41,357 | ||||||
Sapient Corp. | 41,745 | 521,395 | ||||||
SciQuest, Inc. * | 6,437 | 96,877 | ||||||
ServiceSource International, Inc. * | 14,490 | 243,432 | ||||||
Solarwinds, Inc. * | 22,425 | 835,556 | ||||||
Sourcefire, Inc. * | 11,040 | 497,021 | ||||||
SS&C Technologies Holdings, Inc. * | 12,786 | 264,926 | ||||||
Stream Global Services, Inc. * | 15,870 | 48,721 | ||||||
Synchronoss Technologies, Inc. * | 11,549 | 386,430 | ||||||
Syntel, Inc. | 6,210 | 317,952 | ||||||
Take-Two Interactive Software, Inc. * | 33,002 | 509,881 | ||||||
Taleo Corp., Class A * | 15,870 | 727,163 | ||||||
Tangoe, Inc. * | 10,005 | 187,494 | ||||||
TechTarget * | 6,267 | 43,242 | ||||||
TeleCommunication Systems, Inc., Class A * | 18,630 | 49,928 | ||||||
TeleNav, Inc. * | 7,936 | 53,330 | ||||||
TeleTech Holdings, Inc. * | 10,728 | 163,817 | ||||||
The Active Network, Inc. * | 4,339 | 69,424 | ||||||
The Ultimate Software Group, Inc. * | 10,005 | 698,549 | ||||||
THQ, Inc. * | 20,700 | 11,178 | ||||||
TiVo, Inc. * | 46,575 | 523,969 | ||||||
TNS, Inc. * | 9,662 | 177,104 | ||||||
Travelzoo, Inc. *(a) | 2,876 | 73,050 | ||||||
Tyler Technologies, Inc. * | 11,387 | 430,087 | ||||||
Unisys Corp. * | 14,994 | 280,088 | ||||||
United Online, Inc. | 33,287 | 168,432 | ||||||
ValueClick, Inc. * | 30,360 | 631,488 | ||||||
VASCO Data Security International, Inc. * | 9,849 | 89,035 | ||||||
VeriFone Systems, Inc. * | 39,675 | 1,900,036 | ||||||
Verint Systems, Inc. * | 8,340 | 229,267 | ||||||
VirnetX Holding Corp. *(a) | 15,916 | 343,626 | ||||||
Virtusa Corp. * | 7,935 | 124,024 | ||||||
VistaPrint N.V. *(a) | 14,837 | 603,569 | ||||||
Vocus, Inc. * | 7,787 | 105,358 | ||||||
WebMD Health Corp. * | 22,180 | 551,173 | ||||||
Websense, Inc. * | 14,980 | 269,790 | ||||||
Wright Express Corp. * | 15,180 | 939,338 | ||||||
XO Group, Inc. * | 11,287 | 102,034 | ||||||
Zillow, Inc. * | 1,293 | 41,273 | ||||||
51,216,914 | ||||||||
Technology Hardware & Equipment 5.2% | ||||||||
ADTRAN, Inc. | 25,530 | 899,932 | ||||||
Aeroflex Holding Corp. * | 6,702 | 73,521 | ||||||
Anaren, Inc. * | 5,777 | 101,329 | ||||||
Anixter International, Inc. * | 11,730 | 815,704 | ||||||
Arris Group, Inc. * | 45,885 | 522,630 | ||||||
Aruba Networks, Inc. * | 34,489 | 744,618 | ||||||
Aviat Networks, Inc. * | 21,390 | 56,256 | ||||||
Avid Technology, Inc. * | 11,516 | 122,645 | ||||||
AVX Corp. | 20,058 | 265,568 | ||||||
Bel Fuse, Inc., Class B | 4,272 | 74,675 | ||||||
Benchmark Electronics, Inc. * | 23,115 | 379,548 | ||||||
Black Box Corp. | 6,932 | 186,609 | ||||||
Brightpoint, Inc. * | 25,605 | 225,324 | ||||||
Brocade Communications Systems, Inc. * | 176,985 | 1,022,973 | ||||||
Calix, Inc. * | 13,271 | 119,970 |
88 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Checkpoint Systems, Inc. * | 15,375 | 170,662 | ||||||
Ciena Corp. * | 36,141 | 539,224 | ||||||
Cognex Corp. | 14,592 | 622,203 | ||||||
Coherent, Inc. * | 9,660 | 535,937 | ||||||
Comtech Telecommunications Corp. | 8,970 | 289,462 | ||||||
Comverse Technology, Inc. * | 77,625 | 498,352 | ||||||
CTS Corp. | 12,830 | 127,659 | ||||||
Daktronics, Inc. | 15,247 | 137,223 | ||||||
Diebold, Inc. | 24,495 | 958,489 | ||||||
Digi International, Inc. * | 9,547 | 107,308 | ||||||
DTS, Inc. * | 6,632 | 186,227 | ||||||
Echelon Corp. * | 11,930 | 58,696 | ||||||
EchoStar Corp., Class A * | 15,642 | 468,791 | ||||||
Electro Rent Corp. | 7,319 | 132,108 | ||||||
Electro Scientific Industries, Inc. | 9,328 | 129,100 | ||||||
Electronics for Imaging, Inc. * | 17,660 | 281,854 | ||||||
Emulex Corp. * | 33,465 | 350,044 | ||||||
Extreme Networks, Inc. * | 34,845 | 128,578 | ||||||
Fabrinet * | 7,297 | 130,397 | ||||||
FARO Technologies, Inc. * | 6,237 | 345,904 | ||||||
Finisar Corp. * | 34,845 | 707,005 | ||||||
Fusion-io, Inc. *(a) | 8,280 | 226,044 | ||||||
Harmonic, Inc. * | 43,470 | 256,038 | ||||||
Imation Corp. * | 11,120 | 69,500 | ||||||
Infinera Corp. * | 39,766 | 316,537 | ||||||
Insight Enterprises, Inc. * | 16,999 | 355,279 | ||||||
InterDigital, Inc. | 17,940 | 679,029 | ||||||
Intermec, Inc. * | 18,735 | 140,138 | ||||||
Intevac, Inc. * | 8,092 | 63,927 | ||||||
InvenSense, Inc. *(a) | 3,795 | 59,544 | ||||||
IPG Photonics Corp. * | 10,040 | 528,405 | ||||||
Itron, Inc. * | 15,525 | 689,620 | ||||||
Ixia * | 18,713 | 258,614 | ||||||
KEMET Corp. * | 16,582 | 149,404 | ||||||
Lexmark International, Inc., Class A | 30,360 | 1,119,677 | ||||||
Littelfuse, Inc. | 8,733 | 462,238 | ||||||
Loral Space & Communications, Inc. * | 4,830 | 344,089 | ||||||
Maxwell Technologies, Inc. * | 10,730 | 195,179 | ||||||
Measurement Specialties, Inc. * | 5,360 | 174,307 | ||||||
Mercury Computer Systems, Inc. * | 12,075 | 173,518 | ||||||
Meru Networks, Inc. *(a) | 4,170 | 19,682 | ||||||
Methode Electronics, Inc. | 14,328 | 131,101 | ||||||
MTS Systems Corp. | 5,953 | 292,352 | ||||||
Multi-Fineline Electronix, Inc. * | 3,721 | 98,086 | ||||||
National Instruments Corp. | 35,535 | 945,231 | ||||||
NeoPhotonics Corp. * | 5,994 | 31,948 | ||||||
NETGEAR, Inc. * | 14,490 | 544,389 | ||||||
Newport Corp. * | 14,863 | 248,509 | ||||||
Novatel Wireless, Inc. * | 10,436 | 35,795 | ||||||
Oclaro, Inc. * | 19,320 | 83,462 | ||||||
Oplink Communications, Inc. * | 7,635 | 125,290 | ||||||
Opnext, Inc. * | 7,249 | 7,321 | ||||||
OSI Systems, Inc. * | 7,590 | 447,810 | ||||||
Park Electrochemical Corp. | 7,323 | 208,705 | ||||||
Plantronics, Inc. | 17,940 | 669,162 | ||||||
Plexus Corp. * | 13,800 | 478,860 | ||||||
Power-One, Inc. * | 20,893 | 90,676 | ||||||
Pulse Electronics Corp. | 15,870 | 48,880 | ||||||
QLogic Corp. * | 40,020 | 687,944 | ||||||
Quantum Corp. * | 87,285 | 229,560 | ||||||
Rofin-Sinar Technologies, Inc. * | 10,574 | 248,066 | ||||||
Rogers Corp. * | 6,210 | 230,329 | ||||||
Sanmina-SCI Corp. * | 30,360 | 352,176 | ||||||
ScanSource, Inc. * | 10,350 | 382,950 | ||||||
SeaChange International, Inc. * | 10,604 | 72,531 | ||||||
ShoreTel, Inc. * | 9,134 | 49,050 | ||||||
Silicon Graphics International Corp. * | 12,420 | 120,350 | ||||||
Sonus Networks, Inc. * | 86,250 | 251,850 | ||||||
STEC, Inc. * | 16,064 | 155,660 | ||||||
Stratasys, Inc. * | 8,111 | 298,809 | ||||||
Super Micro Computer, Inc. * | 11,385 | 188,308 | ||||||
Sycamore Networks, Inc. * | 7,703 | 142,274 | ||||||
Symmetricom, Inc. * | 16,050 | 94,214 | ||||||
Synaptics, Inc. * | 12,420 | 456,435 | ||||||
SYNNEX Corp. * | 9,315 | 384,057 | ||||||
Tech Data Corp. * | 16,560 | 885,629 | ||||||
Tellabs, Inc. | 126,960 | 502,762 | ||||||
TTM Technologies, Inc. * | 20,470 | 239,704 | ||||||
Ubiquiti Networks, Inc. *(a) | 2,760 | 72,533 | ||||||
Universal Display Corp. *(a) | 15,180 | 627,086 | ||||||
UTStarcom Holdings Corp. * | 48,990 | 68,586 | ||||||
ViaSat, Inc. * | 15,982 | 737,250 | ||||||
Viasystems Group, Inc. * | 1,645 | 30,465 | ||||||
Vishay Intertechnology, Inc. * | 55,200 | 676,752 | ||||||
Vishay Precision Group, Inc. * | 4,969 | 72,995 | ||||||
X-Rite, Inc. * | 10,880 | 49,286 | ||||||
Zebra Technologies Corp., Class A * | 20,692 | 795,400 | ||||||
32,387,882 | ||||||||
Telecommunication Services 1.0% | ||||||||
AboveNet, Inc. * | 8,683 | 603,989 | ||||||
Alaska Communications Systems Group, Inc. (a) | 15,709 | 50,269 | ||||||
Atlantic Tele-Network, Inc. | 3,471 | 133,009 | ||||||
Boingo Wireless, Inc. *(a) | 4,830 | 46,175 | ||||||
Cbeyond, Inc. * | 10,266 | 78,843 | ||||||
Cincinnati Bell, Inc. * | 73,970 | 277,387 | ||||||
Cogent Communications Group, Inc. * | 17,504 | 322,424 | ||||||
Consolidated Communications Holdings, Inc. | 10,223 | 193,930 | ||||||
Elephant Talk Communications, Inc. *(a) | 32,775 | 70,139 | ||||||
Fairpoint Communications, Inc. *(a) | 6,900 | 25,944 | ||||||
General Communication, Inc., Class A * | 13,345 | 141,324 | ||||||
Globalstar, Inc. *(a) | 39,591 | 33,716 | ||||||
Hawaiian Telcom Holdco, Inc. * | 3,590 | 56,435 | ||||||
IDT Corp., Class B | 7,325 | 66,291 | ||||||
Iridium Communications, Inc. * | 17,080 | 130,491 | ||||||
Leap Wireless International, Inc. * | 23,805 | 248,524 | ||||||
Level 3 Communications, Inc. * | 60,720 | 1,476,103 | ||||||
Lumos Networks Corp. | 5,457 | 69,850 | ||||||
Neutral Tandem, Inc. * | 12,079 | 134,802 | ||||||
NTELOS Holdings Corp. | 5,457 | 126,875 | ||||||
Premiere Global Services, Inc. * | 19,665 | 170,102 | ||||||
Shenandoah Telecommunications Co. | 9,489 | 94,795 | ||||||
tw telecom, Inc. * | 57,960 | 1,251,936 | ||||||
USA Mobility, Inc. | 9,106 | 124,934 | ||||||
Vonage Holdings Corp. * | 54,072 | 129,232 | ||||||
6,057,519 |
See financial notes 89
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Transportation 2.5% | ||||||||
Air Transport Services Group, Inc. * | 21,073 | 114,426 | ||||||
Alaska Air Group, Inc. * | 13,800 | 946,266 | ||||||
Alexander & Baldwin, Inc. | 15,870 | 736,527 | ||||||
Allegiant Travel Co. * | 5,869 | 293,333 | ||||||
AMERCO | 2,415 | 251,498 | ||||||
Arkansas Best Corp. | 9,789 | 174,244 | ||||||
Atlas Air Worldwide Holdings, Inc. * | 10,005 | 426,413 | ||||||
Avis Budget Group, Inc. * | 39,817 | 513,639 | ||||||
Baltic Trading Ltd. (a) | 4,752 | 21,764 | ||||||
Celadon Group, Inc. | 7,806 | 115,217 | ||||||
Con-way, Inc. | 20,700 | 611,685 | ||||||
Dollar Thrifty Automotive Group, Inc. * | 11,040 | 838,046 | ||||||
Eagle Bulk Shipping, Inc. *(a) | 23,279 | 37,246 | ||||||
Forward Air Corp. | 11,385 | 383,333 | ||||||
Genco Shipping & Trading Ltd. *(a) | 12,165 | 83,330 | ||||||
Genesee & Wyoming, Inc., Class A * | 15,180 | 901,996 | ||||||
Hawaiian Holdings, Inc. * | 19,320 | 102,589 | ||||||
Heartland Express, Inc. | 21,416 | 309,890 | ||||||
Hub Group, Inc., Class A * | 14,490 | 516,279 | ||||||
JetBlue Airways Corp. * | 94,185 | 480,343 | ||||||
Kirby Corp. * | 21,394 | 1,468,056 | ||||||
Knight Transportation, Inc. | 21,247 | 363,961 | ||||||
Landstar System, Inc. | 17,976 | 971,783 | ||||||
Marten Transport Ltd. | 5,865 | 122,403 | ||||||
Old Dominion Freight Line, Inc. * | 21,390 | 930,679 | ||||||
Pacer International, Inc. * | 13,124 | 72,444 | ||||||
Patriot Transportation Holding, Inc. * | 3,010 | 67,725 | ||||||
RailAmerica, Inc. * | 8,676 | 178,726 | ||||||
Republic Airways Holdings, Inc. * | 16,905 | 89,766 | ||||||
Roadrunner Transportation Systems, Inc. * | 4,142 | 73,935 | ||||||
Ryder System, Inc. | 19,665 | 1,046,768 | ||||||
SkyWest, Inc. | 20,010 | 228,514 | ||||||
Spirit Airlines, Inc. * | 10,695 | 208,873 | ||||||
Swift Transportation Co. * | 27,865 | 326,578 | ||||||
Universal Truckload Services, Inc. | 2,160 | 33,674 | ||||||
US Airways Group, Inc. * | 64,515 | 478,056 | ||||||
UTI Worldwide, Inc. | 39,035 | 630,025 | ||||||
Werner Enterprises, Inc. | 20,010 | 484,642 | ||||||
Wesco Aircraft Holdings, Inc. * | 8,316 | 122,328 | ||||||
Zipcar, Inc. *(a) | 9,660 | 125,677 | ||||||
15,882,677 | ||||||||
Utilities 2.8% | ||||||||
ALLETE, Inc. | 12,420 | 516,424 | ||||||
American States Water Co. | 7,245 | 267,051 | ||||||
Avista Corp. | 22,080 | 545,376 | ||||||
Black Hills Corp. | 15,180 | 498,511 | ||||||
California Water Service Group | 15,659 | 300,809 | ||||||
Central Vermont Public Service Corp. | 4,830 | 170,209 | ||||||
CH Energy Group, Inc. | 5,865 | 391,020 | ||||||
Chesapeake Utilities Corp. | 3,601 | 147,893 | ||||||
Cleco Corp. | 24,150 | 929,292 | ||||||
Connecticut Water Service, Inc. | 3,246 | 93,550 | ||||||
Dynegy, Inc. * | 39,006 | 50,708 | ||||||
El Paso Electric Co. | 16,215 | 530,717 | ||||||
Genie Energy Ltd. | 7,325 | 70,247 | ||||||
GenOn Energy, Inc. * | 292,215 | 718,849 | ||||||
Great Plains Energy, Inc. | 51,405 | 1,016,791 | ||||||
Hawaiian Electric Industries, Inc. | 36,570 | 916,078 | ||||||
IDACORP, Inc. | 19,320 | 782,074 | ||||||
MGE Energy, Inc. | 8,665 | 380,047 | ||||||
Middlesex Water Co. | 5,754 | 105,989 | ||||||
New Jersey Resources Corp. | 15,870 | 740,970 | ||||||
Northwest Natural Gas Co. | 10,350 | 473,719 | ||||||
NorthWestern Corp. | 13,485 | 468,334 | ||||||
Ormat Technologies, Inc. | 6,763 | 136,883 | ||||||
Piedmont Natural Gas Co., Inc. | 27,592 | 893,981 | ||||||
PNM Resources, Inc. | 30,360 | 545,873 | ||||||
Portland General Electric Co. | 28,980 | 714,067 | ||||||
SJW Corp. | 5,051 | 120,668 | ||||||
South Jersey Industries, Inc. | 11,730 | 609,960 | ||||||
Southwest Gas Corp. | 17,595 | 750,427 | ||||||
The Empire District Electric Co. | 15,728 | 313,774 | ||||||
The Laclede Group, Inc. | 7,935 | 326,049 | ||||||
UIL Holdings Corp. | 19,320 | 681,030 | ||||||
Unisource Energy Corp. | 14,145 | 520,394 | ||||||
Unitil Corp. | 3,949 | 105,043 | ||||||
Vectren Corp. | 32,085 | 937,524 | ||||||
WGL Holdings, Inc. | 19,665 | 802,922 | ||||||
17,573,253 | ||||||||
Total Common Stock | ||||||||
(Cost $584,679,724) | 626,200,391 | |||||||
Rights 0.0% of net assets | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||||||
Forest Laboratories, Inc. *(b)(c) | 5,521 | — | ||||||
Total Rights | ||||||||
(Cost $—) | — | |||||||
End of Investments | ||||||||
Collateral Invested for Securities on Loan 2.2% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 13,908,517 | 13,908,517 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $13,908,517) | 13,908,517 | |||||||
End of Collateral Invested for Securities on Loan |
At 2/29/12, the tax basis cost of the fund’s investments was $585,798,502 and the unrealized appreciation and depreciation were $76,907,154 and ($36,505,265), respectively, with a net unrealized appreciation of $40,401,889.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Illiquid security. At the period end, the value of these amounted to $0 or 0% of net assets. | |
(c) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
90 See financial notes
Schwab U.S. Small-Cap ETF
Portfolio Holdings (Unaudited) continued
REIT — | Real Estate Investment Trust |
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $626,200,391 | $— | $— | $626,200,391 | ||||||||||||
Rights(a) | — | — | — | — | ||||||||||||
Total | $626,200,391 | $— | $— | $626,200,391 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $13,908,517 | $— | $— | $13,908,517 |
(a) | As categorized in Portfolio Holdings. |
There were no significant transfers between Level 1, Level 2 and Level 3 for the period ended February 29, 2012.
See financial notes 91
Schwab U.S. Small-Cap ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $584,679,724) including securities on loan of $13,312,894 | $626,200,391 | |||||
Collateral invested for securities on loan | 13,908,517 | |||||
Receivables: | ||||||
Investments sold | 200,373 | |||||
Dividends | 447,591 | |||||
Income from securities on loan | + | 48,420 | ||||
Total assets | 640,805,292 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 13,908,517 | |||||
Payables: | ||||||
Investments bought | 72,075 | |||||
Investment adviser fees | 6,771 | |||||
Due to custodian | + | 40,793 | ||||
Total liabilities | 14,028,156 | |||||
Net Assets | ||||||
Total assets | 640,805,292 | |||||
Total liabilities | − | 14,028,156 | ||||
Net assets | $626,777,136 | |||||
Net Assets by Source | ||||||
Capital received from investors | 579,013,164 | |||||
Net investment income not yet distributed | 1,000,058 | |||||
Net realized capital gains | 4,860,795 | |||||
Net unrealized capital gains | 41,903,119 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$626,777,136 | 17,250,001 | $36.33 |
92 See financial notes
Schwab U.S. Small-Cap ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (net of foreign withholding tax of $62) | $3,557,355 | |||||
Interest | 237 | |||||
Securities on loan | + | 332,036 | ||||
Total investment income | 3,889,628 | |||||
Expenses | ||||||
Investment adviser fees | 324,149 | |||||
Total expenses | − | 324,149 | ||||
Net investment income | 3,565,479 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments | (5,000,525 | ) | ||||
Net realized gains on in-kind redemptions | + | 11,510,729 | ||||
Net realized gains | 6,510,204 | |||||
Net unrealized gains on investments | + | 54,093,552 | ||||
Net realized and unrealized gains | 60,603,756 | |||||
Net increase in net assets resulting from operations | $64,169,235 |
See financial notes 93
Schwab U.S. Small-Cap ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $3,565,479 | $4,865,989 | ||||||||
Net realized gains | 6,510,204 | 16,916,401 | ||||||||
Net unrealized gains | + | 54,093,552 | 9,815,575 | |||||||
Net increase in net assets resulting from operations | 64,169,235 | 31,597,965 | ||||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($3,073,425 | ) | ($4,559,215 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 4,700,000 | $157,787,001 | 9,400,000 | $323,402,760 | ||||||||||||||
Shares Redeemed | + | (1,750,000 | ) | (54,628,603 | ) | (2,400,000 | ) | (81,228,190 | ) | |||||||||
Net transactions in fund shares | 2,950,000 | $103,158,398 | 7,000,000 | $242,174,570 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 14,300,001 | $462,522,928 | 7,300,001 | $193,309,608 | ||||||||||||||
Total increase | + | 2,950,000 | 164,254,208 | 7,000,000 | 269,213,320 | |||||||||||||
End of period | 17,250,001 | $626,777,136 | 14,300,001 | $462,522,928 | ||||||||||||||
Net investment income not yet distributed | $1,000,058 | $508,004 |
94 See financial notes
Schwab U.S. Dividend Equity ETF™
Financial Statements
��
Financial Highlights
10/19/111– | ||||||
2/29/12* | ||||||
Per-Share Data ($) | ||||||
Net asset value at beginning of period | 25.00 | |||||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.23 | |||||
Net realized and unrealized gains (losses) | 2.25 | |||||
Total from investment operations | 2.48 | |||||
Less distributions: | ||||||
Distributions from net investment income | (0.12 | ) | ||||
Net asset value at end of period | 27.36 | |||||
Total return (%) | 9.97 | 2 | ||||
Ratios/Supplemental Data (%) | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.17 | 3 | ||||
Gross operating expenses | 0.17 | 3 | ||||
Net investment income (loss) | 3.42 | 3 | ||||
Portfolio turnover rate4 | 1 | 2 | ||||
Net assets, end of period ($ x 1,000) | 300,977 |
* Unaudited.
1 Commencement of operations.
2 Not annualized.
3 Annualized.
4 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes 95
Schwab U.S. Dividend Equity ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .7% | Common Stock | 288,603,295 | 300,004,572 | ||||||||
0 | .0% | Other Investment Company | 82,289 | 82,289 | ||||||||
99 | .7% | Total Investments | 288,685,584 | 300,086,861 | ||||||||
0 | .3% | Other Assets and Liabilities, Net | 890,394 | |||||||||
100 | .0% | Net Assets | 300,977,255 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.7% of net assets | ||||||||
Capital Goods 15.7% | ||||||||
3M Co. | 67,980 | 5,955,048 | ||||||
Applied Industrial Technologies, Inc. | 4,040 | 162,287 | ||||||
Caterpillar, Inc. | 62,036 | 7,085,131 | ||||||
Crane Co. | 5,500 | 267,135 | ||||||
Cummins, Inc. | 18,480 | 2,228,134 | ||||||
Dover Corp. | 19,619 | 1,256,008 | ||||||
Emerson Electric Co. | 78,760 | 3,962,416 | ||||||
General Dynamics Corp. | 31,515 | 2,307,843 | ||||||
Graco, Inc. | 6,600 | 337,788 | ||||||
Honeywell International, Inc. | 75,680 | 4,508,258 | ||||||
ITT Corp. | 10,139 | 252,968 | ||||||
Lockheed Martin Corp. | 27,308 | 2,414,300 | ||||||
Northrop Grumman Corp. | 25,744 | 1,539,749 | ||||||
Rockwell Automation, Inc. | 15,180 | 1,214,096 | ||||||
The Boeing Co. | 70,176 | 5,259,691 | ||||||
United Technologies Corp. | 83,816 | 7,029,648 | ||||||
W.W. Grainger, Inc. | 6,209 | 1,289,796 | ||||||
Watsco, Inc. | 2,860 | 204,175 | ||||||
47,274,471 | ||||||||
Commercial & Professional Services 0.5% | ||||||||
Rollins, Inc. | 7,954 | 161,148 | ||||||
Waste Management, Inc. | 42,467 | 1,485,496 | ||||||
1,646,644 | ||||||||
Consumer Durables & Apparel 2.3% | ||||||||
Hasbro, Inc. | 12,980 | 458,453 | ||||||
Leggett & Platt, Inc. | 14,960 | 338,545 | ||||||
NIKE, Inc., Class B | 40,040 | 4,321,117 | ||||||
Polaris Industries, Inc. | 6,820 | 450,529 | ||||||
VF Corp. | 9,240 | 1,349,502 | ||||||
6,918,146 | ||||||||
Consumer Services 4.1% | ||||||||
Darden Restaurants, Inc. | 14,080 | 717,939 | ||||||
H&R Block, Inc. | 32,379 | 527,778 | ||||||
McDonald’s Corp. | 109,336 | 10,854,878 | ||||||
Strayer Education, Inc. | 1,320 | 135,821 | ||||||
12,236,416 | ||||||||
Diversified Financials 0.8% | ||||||||
Eaton Vance Corp. | 12,540 | 361,278 | ||||||
Federated Investors, Inc., Class B | 10,864 | 222,603 | ||||||
SEI Investments Co. | 15,840 | 312,840 | ||||||
T. Rowe Price Group, Inc. | 26,836 | 1,652,829 | ||||||
2,549,550 | ||||||||
Energy 12.4% | ||||||||
Chevron Corp. | 124,296 | 13,563,179 | ||||||
ConocoPhillips | 130,896 | 10,020,089 | ||||||
Exxon Mobil Corp. | 159,056 | 13,758,344 | ||||||
37,341,612 | ||||||||
Food & Staples Retailing 5.3% | ||||||||
Sysco Corp. | 62,260 | 1,831,689 | ||||||
Wal-Mart Stores, Inc. | 187,440 | 11,073,955 | ||||||
Walgreen Co. | 92,864 | 3,079,371 | ||||||
15,985,015 | ||||||||
Food, Beverage & Tobacco 10.2% | ||||||||
Brown-Forman Corp., Class B | 11,497 | 938,730 | ||||||
Campbell Soup Co. | 21,120 | 703,718 | ||||||
Flowers Foods, Inc. | 14,740 | 282,124 | ||||||
H.J. Heinz Co. | 34,100 | 1,797,411 | ||||||
Kellogg Co. | 26,050 | 1,363,717 | ||||||
McCormick & Co., Inc. | 14,080 | 710,336 | ||||||
PepsiCo, Inc. | 165,656 | 10,426,389 | ||||||
The Coca-Cola Co. | 190,296 | 13,294,079 | ||||||
The Hershey Co. | 16,727 | 1,015,329 | ||||||
Universal Corp. | 2,493 | 114,528 | ||||||
30,646,361 | ||||||||
Health Care Equipment & Services 1.8% | ||||||||
Baxter International, Inc. | 60,720 | 3,529,653 | ||||||
Becton, Dickinson & Co. | 21,780 | 1,660,072 | ||||||
Meridian Bioscience, Inc. | 4,482 | 80,766 | ||||||
Owens & Minor, Inc. | 6,820 | 204,327 | ||||||
5,474,818 | ||||||||
Household & Personal Products 7.2% | ||||||||
Avon Products, Inc. | 45,752 | 855,105 | ||||||
Colgate-Palmolive Co. | 47,520 | 4,427,914 | ||||||
Kimberly-Clark Corp. | 41,580 | 3,030,350 | ||||||
The Procter & Gamble Co. | 196,896 | 13,294,418 | ||||||
21,607,787 | ||||||||
Insurance 1.8% | ||||||||
Aflac, Inc. | 49,940 | 2,359,665 |
96 See financial notes
Schwab U.S. Dividend Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Arthur J. Gallagher & Co. | 11,880 | 405,346 | ||||||
Everest Re Group Ltd. | 4,836 | 424,842 | ||||||
Mercury General Corp. | 2,860 | 122,637 | ||||||
The Chubb Corp. | 29,480 | 2,003,461 | ||||||
5,315,951 | ||||||||
Materials 4.3% | ||||||||
Air Products & Chemicals, Inc. | 21,120 | 1,905,869 | ||||||
E.I. du Pont de Nemours & Co. | 98,780 | 5,022,963 | ||||||
Greif, Inc., Class A | 4,262 | 218,257 | ||||||
PPG Industries, Inc. | 16,330 | 1,490,113 | ||||||
Praxair, Inc. | 32,120 | 3,501,080 | ||||||
RPM International, Inc. | 13,860 | 330,838 | ||||||
Sonoco Products Co. | 10,560 | 346,790 | ||||||
12,815,910 | ||||||||
Media 0.5% | ||||||||
Meredith Corp. | 3,740 | 123,046 | ||||||
The McGraw-Hill Cos., Inc. | 31,028 | 1,444,043 | ||||||
1,567,089 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 10.7% | ||||||||
Abbott Laboratories | 164,780 | 9,328,196 | ||||||
Bristol-Myers Squibb Co. | 181,720 | 5,845,932 | ||||||
Eli Lilly & Co. | 103,840 | 4,074,682 | ||||||
Johnson & Johnson | 199,096 | 12,957,168 | ||||||
32,205,978 | ||||||||
Retailing 4.5% | ||||||||
Genuine Parts Co. | 16,500 | 1,034,220 | ||||||
Ross Stores, Inc. | 24,860 | 1,325,784 | ||||||
The Gap, Inc. | 27,362 | 639,176 | ||||||
The Home Depot, Inc. | 163,240 | 7,765,327 | ||||||
The TJX Cos., Inc. | 79,856 | 2,923,528 | ||||||
13,688,035 | ||||||||
Semiconductors & Semiconductor Equipment 6.2% | ||||||||
Intel Corp. | 514,132 | 13,819,868 | ||||||
Linear Technology Corp. | 22,660 | 758,657 | ||||||
Texas Instruments, Inc. | 120,996 | 4,035,217 | ||||||
18,613,742 | ||||||||
Software & Services 5.8% | ||||||||
Automatic Data Processing, Inc. | 52,140 | 2,832,245 | ||||||
FactSet Research Systems, Inc. | 4,400 | 384,560 | ||||||
International Business Machines Corp. | 66,220 | 13,027,460 | ||||||
Paychex, Inc. | 34,320 | 1,074,216 | ||||||
17,318,481 | ||||||||
Technology Hardware & Equipment 0.3% | ||||||||
Harris Corp. | 12,316 | 537,347 | ||||||
Molex, Inc. | 15,840 | 429,264 | ||||||
966,611 | ||||||||
Telecommunication Services 0.9% | ||||||||
CenturyLink, Inc. | 64,900 | 2,612,225 | ||||||
Transportation 2.0% | ||||||||
C.H. Robinson Worldwide, Inc. | 17,380 | 1,150,035 | ||||||
CSX Corp. | 111,554 | 2,343,750 | ||||||
Norfolk Southern Corp. | 35,636 | 2,455,320 | ||||||
5,949,105 | ||||||||
Utilities 2.4% | ||||||||
CenterPoint Energy, Inc. | 41,863 | 815,910 | ||||||
Entergy Corp. | 18,700 | 1,245,981 | ||||||
Exelon Corp. | 69,810 | 2,727,477 | ||||||
NSTAR | 10,996 | 515,712 | ||||||
PPL Corp. | 61,206 | 1,747,431 | ||||||
WGL Holdings, Inc. | 5,342 | 218,114 | ||||||
7,270,625 | ||||||||
Total Common Stock | ||||||||
(Cost $288,603,295) | 300,004,572 | |||||||
Other Investment Company 0.0% of net assets | ||||||||
Money Market Fund 0.0% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 82,289 | 82,289 | ||||||
Total Other Investment Company | ||||||||
(Cost $82,289) | 82,289 | |||||||
End of Investments |
At 2/29/12, the tax basis cost of the fund’s investments was $288,701,623 and the unrealized appreciation and depreciation were $12,498,958 and ($1,113,720), respectively, with a net unrealized appreciation of $11,385,238.
See financial notes 97
Schwab U.S. Dividend Equity ETF
Portfolio Holdings (Unaudited) continued
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total* | ||||||||||||
Common Stock(a) | $300,004,572 | $— | $— | $300,004,572 | ||||||||||||
Other Investment Company(a) | 82,289 | — | — | 82,289 | ||||||||||||
Total | $300,086,861 | $— | $— | $300,086,861 | ||||||||||||
* | The fund had no Other Financial Instruments. | |
(a) | As categorized in Portfolio Holdings. |
There were no significant transfers between Level 1, Level 2 and Level 3 for the period ended February 29, 2012.
98 See financial notes
Schwab U.S. Dividend Equity ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $288,685,584) | $300,086,861 | |||||
Receivables: | ||||||
Fund shares sold | 5,473,313 | |||||
Dividends | + | 1,155,503 | ||||
Total assets | 306,715,677 | |||||
Liabilities | ||||||
Payables: | ||||||
Investments bought | 5,734,281 | |||||
Investment adviser fees | + | 4,141 | ||||
Total liabilities | 5,738,422 | |||||
Net Assets | ||||||
Total assets | 306,715,677 | |||||
Total liabilities | − | 5,738,422 | ||||
Net assets | $300,977,255 | |||||
Net Assets by Source | ||||||
Capital received from investors | 288,496,820 | |||||
Net investment income not yet distributed | 1,180,371 | |||||
Net realized capital losses | (101,213 | ) | ||||
Net unrealized capital gains | 11,401,277 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$300,977,255 | 11,000,001 | $27.36 |
See financial notes 99
Schwab U.S. Dividend Equity ETF
Statement of
Operations
For October 19, 2011* through February 29, 2012
Investment Income | ||||||
Dividends | $1,845,767 | |||||
Interest | + | 17 | ||||
Total investment income | 1,845,784 | |||||
Expenses | ||||||
Investment adviser fees | 87,338 | |||||
Total expenses | − | 87,338 | ||||
Net investment income | 1,758,446 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments | (101,213 | ) | ||||
Net unrealized gains on investments | + | 11,401,277 | ||||
Net realized and unrealized gains | 11,300,064 | |||||
Net increase in net assets resulting from operations | $13,058,510 |
* | Commencement of operations. |
100 See financial notes
Schwab U.S. Dividend Equity ETF
Statements of
Changes in Net Assets
For the current period only. Because the fund commenced operations on
October 19, 2011, it has no prior report period.
Figures for the current period are unaudited
October 19, 2011, it has no prior report period.
Figures for the current period are unaudited
Operations | ||||||
10/19/11*-2/29/12 | ||||||
Net investment income | $1,758,446 | |||||
Net realized losses | (101,213 | ) | ||||
Net unrealized gains | + | 11,401,277 | ||||
Net increase in net assets resulting from operations | 13,058,510 | |||||
Distributions to Shareholders | ||||||
Distributions from net investment income | ($578,075 | ) |
Transactions in Fund Shares
10/19/11*-2/29/12 | ||||||||||
SHARES | VALUE | |||||||||
Shares Sold | 11,100,001 | $291,044,966 | ||||||||
Shares Redeemed | + | (100,000 | ) | (2,548,146 | ) | |||||
Net transactions in fund shares | 11,000,001 | $288,496,820 | ||||||||
Shares Outstanding and Net Assets | ||||||||||
10/19/11*-2/29/12 | ||||||||||
SHARES | NET ASSETS | |||||||||
Beginning of period | — | $— | ||||||||
Total increase | + | 11,000,001 | 300,977,255 | |||||||
End of period | 11,000,001 | $300,977,255 | ||||||||
Net investment income not yet distributed | $1,180,371 |
* | Commencement of operations. |
See financial notes 101
Schwab U.S. ETFs
Financial Notes, unaudited
1. Business Structure of the Funds
Each of the funds discussed in this report is a series of Schwab Strategic Trust (the “trust”), a no-load, open-end management investment company. The trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The list below shows all the funds in the trust as of the end of the period, including the funds discussed in this report, which are highlighted:
Schwab Strategic Trust (organized January 27, 2009) | Schwab U.S. REIT ETF | |||
Schwab U.S. Broad Market ETF | Schwab International Equity ETF | |||
Schwab U.S. Large-Cap ETF | Schwab International Small-Cap Equity ETF | |||
Schwab U.S. Large-Cap Growth ETF | Schwab Emerging Markets Equity ETF | |||
Schwab U.S. Large-Cap Value ETF | Schwab U.S. TIPS ETF | |||
Schwab U.S. Mid-Cap ETF | Schwab Short-Term U.S. Treasury ETF | |||
Schwab U.S. Small-Cap ETF | Schwab Intermediate-Term U.S. Treasury ETF | |||
Schwab U.S. Dividend Equity ETF | Schwab U.S. Aggregate Bond ETF | |||
The funds issue and redeem shares at their net assets value (“NAV”) only in large blocks of shares, typically 50,000 shares or more (“Creation Units”). These transactions are usually in exchange for a basket of securities and an amount of cash. As a practical matter, only institutions or large investors purchase or redeem Creation Units. Except when aggregated in Creation Units, shares of the fund are not redeemable securities.
Individual shares of the funds trade on national securities exchanges and elsewhere during the trading day and can only be bought and sold at market prices throughout the trading day through a broker-dealer. Because fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV (premium) or less than NAV (discount).
Schwab U.S. Dividend Equity ETF commenced operations on October 19, 2011.
Each fund maintains its own account for purposes of holding assets and accounting, and is considered a separate entity for tax purposes. Within its account, each fund may also keep certain assets in segregated accounts, as required by securities law.
2. Significant Accounting Policies:
The following is a summary of the significant accounting policies the funds use in the preparation of their financial statements. The accounting policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).
(a) Security Valuation:
The funds value the securities in their portfolios every business day. The funds use the following policies to value various types of securities:
• | Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported, halfway between the most recent bid and asked quotes. Securities that are primarily traded on foreign exchanges are valued at the closing values of such securities on their respective exchanges with these values then translated into U.S. dollars at the valuation date exchange rate unless these securities are fair valued as discussed below. | |
• | Securities for which no quoted value is available: The Board of Trustees has adopted procedures to fair value each fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when a security is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. Each fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Board of Trustees regularly reviews fair value determinations made by the funds pursuant to the procedures. | |
• | Bonds and notes: valued at the bid or at halfway between the most recent bid and asked quotes or, if such quotes are unavailable, at prices for securities of comparable maturity, credit quality and type. Valuations for bonds and notes are provided by an independent bond-pricing service. | |
• | Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value. | |
• | Underlying funds: valued at their respective net asset values. |
102
Schwab U.S. ETFs
Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the funds determine that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
The three levels of the fair value hierarchy are as follows:
• | Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities. The funds do not adjust the quoted price for such investments, even in situations where the funds hold a large position and a sale could reasonably impact the quoted prices. | |
• | Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information. | |
• | Level 3 — significant unobservable inputs (including the funds’ own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the funds in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the funds in the absence of market information. Assumptions used by the funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the funds’ results of operations. |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The funds’ policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year.
The levels associated with valuing the funds’s investment for the period ended February 29, 2012 are disclosed in the Portfolio Holdings.
(b) Accounting Policies for certain Portfolio Investments (if held):
Securities Lending: Under the Securities Lending Program, a fund (the “lender”) may make short-term loans of its securities to another party (the “borrower”) to generate additional revenue for the fund. The borrower pledges collateral in the form of cash, securities issued or fully guaranteed by the U.S. government or foreign government, or letters of credit issued by a bank. The initial collateral received by a fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter, at a value equal to at least 100% of the current market value of the securities on loan and is marked to market daily. The cash collateral of securities loaned is invested in money market portfolios registered under Rule 2a-7 of the 1940 Act. Securities lending income, as disclosed in a fund’s Statement of Operations, represents the income earned from the investment of the cash collateral plus any fees paid by borrowers, less the fees paid to the lending agent which are subject to adjustments pursuant to the securities lending agreement.
103
Schwab U.S. ETFs
Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
If applicable, the value of the securities on loan as of February 29, 2012 and the value of the related collateral are disclosed in the Portfolio Holdings and the Statement of Assets and Liabilities.
(c) Security Transactions:
Security transactions are recorded as of the date the order to buy or sell the security is executed. Realized gains or losses from security transactions are based on the identified costs of the securities involved.
(d) Investment Income:
Interest income is recorded as it accrues. Dividends and distributions from portfolio securities and underlying funds are recorded on the date they are effective (the ex-dividend date), although the funds record certain foreign security dividends on the day they learn of the ex-dividend date.
(e) Expenses:
Expenses that are specific to a fund are charged directly to the fund. The investment adviser will pay the operating expenses of the funds, excluding interest expenses, taxes, any brokerage expenses, and extraordinary or non-routine expenses.
(f) Distributions to Shareholders:
The funds make distributions from net investment income every quarter and net realized capital gains, if any, once a year.
(g) Accounting Estimates:
The accounting policies described in this report conform with accounting principles generally accepted in the United States of America. Notwithstanding this, shareholders should understand that in order to follow these principles, fund management has to make estimates and assumptions that affect the information reported in the financial statements. It’s possible that once the results are known, they may turn out to be different from these estimates and these differences may be material.
(h) Federal Income Taxes:
The funds intend to meet federal income and excise tax requirements for regulated investment companies. Accordingly, the funds distribute substantially all of their net investment income and realized net capital gains, if any, to their respective shareholders each year. As long as a fund meets the tax requirements, it is not required to pay federal income tax.
(i) Indemnification:
Under the funds’ organizational documents, the officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the funds. In addition, in the normal course of business the funds enter into contracts with their vendors and others that provide general indemnifications. The funds’ maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the funds. However, based on experience, the funds expect the risk of loss to be remote.
(j) New Accounting Pronouncements:
In April 2011, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Updates (“ASU”) related to accounting for repurchase agreements and similar agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. The ASU modifies the criteria for determining effective control of transferred assets and as a result certain agreements may now be accounted for as secured borrowings. The ASU is effective prospectively for new and existing transfers that are modified in the first interim or annual period beginning on or after December 15, 2011.
In May 2011, the FASB issued an update to requirements relating to “Fair Value Measurement which represents amendments to achieve common fair value measurement and disclosure requirements in US GAAP and IFRS.” The amendments include (i) those that clarify the FASB’s intent about the application of existing fair value measurement and disclosure requirements and (ii) those that change a particular principle or requirement for measuring fair value or for disclosing information about fair value measurements. The amendments that change a particular principle or requirement for measuring fair value or disclosing information about fair value measurements relate to (i) measuring the fair value of the financial instruments that are managed
104
Schwab U.S. ETFs
Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
within a portfolio; (ii) application of premium and discount in a fair value measurement; and (iii) additional disclosures about fair value measurements. The update is effective for annual periods beginning after December 15, 2011 with early adoption prohibited.
At this time, management is evaluating the implications of these changes and their impact on the financial statements.
3. Risk Factors:
Investing in the funds may involve certain risks, as described in the funds’ prospectus, including, but not limited to, those described below. Any of these risks could cause an investor to lose money.
Stock markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of the investment in a fund will fluctuate, which means that the investors could lose money.
The funds are not actively managed. Therefore, a fund follows the securities included in an index during upturns as well as downturns. Because of the indexing strategies, a fund does not take steps to reduce market exposure or to lessen the effects of a declining market. In addition, because of a fund’s expenses, a fund’s performance is normally below that of the index.
Certain funds primarily invest in dividend paying stocks. As a result, fund performance will correlate directly with the performance of the dividend paying stock segment of the stock market, and a fund may underperform funds that do not limit their investments to dividend paying stocks. If stocks held by a fund reduce or stop paying dividends, a fund’s ability to generate income may be affected.
The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.
Certain funds invest in large-cap stocks. Large-cap stocks tend to go in and out of favor based on market and economic conditions. During a period when large-cap U.S. stocks fall behind other types of investments — mid- or small-cap stocks, for instance — a fund’s large-cap holdings could reduce performance.
Certain funds invest in mid-cap stocks. Historically, mid-cap stocks have been riskier than large-cap stocks. Mid-cap companies themselves may be more vulnerable to adverse business or economic events than larger, more established companies. Stock prices of midsized companies may be based in substantial part on future expectations rather than current achievements and may move sharply, especially during market upturns and downturns. During a period when mid-cap stocks fall behind other types of investments — bonds or large-cap stocks, for instance — a fund’s mid-cap holdings could reduce performance.
Certain funds invest in small-cap stocks. Historically, small-cap stocks have been riskier than large- and mid-cap stocks, and their prices may move sharply, especially during market upturns and downturns. Small-cap companies may be more vulnerable to adverse business or economic events than larger, more established companies. During a period when small-cap stocks fall behind other types of investments — large-cap and mid-cap stocks, for instance — a fund’s small-cap holdings could reduce performance.
Certain funds invest in growth stocks. Growth stocks can be volatile. Growth companies usually invest a high portion of earnings in their businesses and may lack the dividends of value stocks that can cushion stock prices in a falling market. The prices of growth stocks are based largely on projections of the issuer’s future earnings and revenues. If a company’s earnings or revenues fall short of expectations, its stock price may fall dramatically. Growth stocks may also be more expensive relative to their earnings or assets compared to value or other stocks.
Certain funds emphasize a “value” style of investing, which targets undervalued companies with characteristics for improved valuations. This style of investing is subject to the risk that the valuations never improve or that the returns on “value” securities may not move in tandem with the returns on other styles of investing or the stock market in general.
Certain funds may not fully replicate the index and may hold securities not included in the index. As a result, a fund is subject to the risk that the adviser’s investment management strategy, the implementation of which is subject to a number of constraints, may not produce the intended results. Because these funds utilize a sampling approach, they may not track the return of the index as well as they would if the funds purchased all of the securities in the index.
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Schwab U.S. ETFs
Financial Notes, unaudited (continued)
3. Risk Factors (continued):
As an index fund, a fund seeks to track the performance of its benchmark index, although it may not be successful in doing so. The divergence between the performance of a fund and its benchmark index, positive or negative, is called “tracking error.” Tracking error can be caused by many factors and it may be significant.
A fund may invest in derivative instruments. The principal types of derivatives a fund may use are futures contracts. A futures contract is an agreement to buy or sell a financial instrument at a specific price on a specific day. A fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Certain of these risks, such as market risk and liquidity risk, are discussed elsewhere in this section. A fund’s use of derivatives is also subject to leverage risk, credit risk, lack of availability risk, valuation risk, correlation risk and tax risk. Leverage risk is the risk that use of derivatives may magnify the effect of any decrease or increase in the value of the fund’s portfolio securities. Credit risk is the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations. Lack of availability risk is the risk that suitable derivative transactions may not be available in all circumstances for risk management or other purposes. Valuation risk is the risk that a particular derivative may be valued incorrectly. Correlation risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Tax risk is the risk that the use of derivatives may cause a fund to realize higher amounts of short-term capital gain. These risks could cause a fund to lose more than the principal amount invested.
A particular investment may be difficult to purchase or sell. A fund may be unable to sell illiquid securities at an advantageous time or price.
A fund may lend its portfolio securities to brokers, dealers, and other financial institutions provided a number of conditions are satisfied, including that the loan is fully collateralized. Securities lending involves the risk of loss of rights in the collateral or delay in recovery of the collateral if the borrower fails to return the security loaned or becomes insolvent.
To the extent that a fund’s or an index’s portfolio is concentrated in the securities of issuers in a particular market, industry, group of industries, sector or asset class, a fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
Although fund shares are listed on national securities exchanges, there can be no assurance that an active trading market for fund shares will develop or be maintained. If an active market is not maintained, investors may find it difficult to buy or sell fund shares.
Fund shares may be bought and sold in the secondary market at market prices. Although it is expected that the market price of the shares of a fund will approximate a fund’s NAV, there may be times when the market price and the NAV vary significantly. Investors may pay more than NAV when they buy shares of a fund in the secondary market, and may receive less than NAV when they sell those shares in the secondary market.
An investment in a fund is not a bank deposit and it is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
Please refer to the funds’ prospectus for a more complete description of the principal risks of investing in the funds.
4. Affiliates and Affiliated Transactions:
Charles Schwab Investment Management, Inc. (“CSIM” or the “investment adviser”), a wholly owned subsidiary of The Charles Schwab Corporation, serves as each fund’s investment adviser pursuant to an Investment Advisory Agreement (“Advisory Agreement”) between CSIM and the trust.
For its advisory services to the following funds, CSIM is entitled to receive an annual fee, payable monthly, based on a percentage of the fund’s average daily net assets as follows:
Schwab U.S. | Schwab U.S. | Schwab U.S. | Schwab U.S. | |||||||||||||||||||||||
Broad | Schwab U.S. | Large-Cap | Large-Cap | Schwab U.S. | Schwab | Dividend | ||||||||||||||||||||
Market | Large-Cap | Growth | Value | Mid-Cap | Small-Cap | Equity | ||||||||||||||||||||
ETF | ETF | ETF | ETF | ETF | ETF | ETF | ||||||||||||||||||||
0.06% | 0.08% | 0.13% | 0.13% | 0.13% | 0.13% | 0.17% |
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Schwab U.S. ETFs
Financial Notes, unaudited (continued)
4. Affiliates and Affiliated Transactions (continued):
The investment adviser will pay the operating expenses of the funds, excluding interest expenses, taxes, any brokerage expenses, and extraordinary or non-routine expenses.
The funds may engage in certain transactions involving affiliates, including investing in outstanding shares of The Charles Schwab Corporation. Below is a summary of investing activity involving The Charles Schwab Corporation shares own by the funds during the report period:
Balance | ||||||||||||||||||||||||||||
of Shares | Balance | Realized | Dividends | |||||||||||||||||||||||||
Held at | of Shares | Market | Gain (Loss) | Received | ||||||||||||||||||||||||
Beginning | Gross | Gross | Held at | Value at | During | During | ||||||||||||||||||||||
Fund | of Period | Additions | Sales | 2/29/12 | 2/29/12 | Period | Period | |||||||||||||||||||||
Schwab U.S. Broad Market ETF | 52,662 | 19,163 | * | (2,965 | ) | 68,860 | $955,777 | $1,452 | $7,566 | |||||||||||||||||||
Schwab U.S. Large-Cap ETF | 52,452 | 11,904 | (1,736 | ) | 62,620 | 869,166 | 655 | 7,038 | ||||||||||||||||||||
Schwab U.S. Large-Cap Growth ETF | 53,760 | 13,891 | (5,896 | ) | 61,755 | 857,159 | 51 | 7,067 |
* | Includes 5,141 shares in connection with a merger between optionsXpress Holdings, Inc. and The Charles Schwab Corporation. |
The funds may engage in direct transactions with certain other Schwab ETFs when practical. When one fund is seeking to sell a security that another is seeking to buy, an interfund transaction can allow both funds to benefit by reducing transaction costs. This practice is limited to funds that share the same investment adviser, trustees and/or officers. For the period ended February 29, 2012, there were no direct security transactions with other Schwab ETFs.
Pursuant to an exemptive order issued by the SEC, the funds may enter into interfund borrowing and lending transactions with other Schwab Funds including Schwab ETFs. All loans are for temporary or emergency purposes only. The interest rate charged on the loan is the average of the overnight repurchase agreement rate and the short-term bank loan rate. The interfund lending facility is subject to the oversight and periodic review of the Board of Trustees of the Schwab Funds. The funds had no interfund borrowing or lending activity during the period.
5. Other Service Providers:
SEI Investments Distribution Co. (the “Distributor”) is the principal underwriter and distributor of shares of the funds.
State Street Bank and Trust Company (“State Street”) serves as the funds’ transfer agent. As part of these services, the transfer agent maintains records pertaining to the sale, redemption and transfer of the funds’ shares.
State Street also serves as custodian and accountant for the funds. The custodian is responsible for the daily safekeeping of securities and cash held or sold by the funds. The funds’ accountant maintains all books and records related to the funds’ transactions.
6. Board of Trustees:
Trustees may include people who are officers and/or directors of the investment adviser or its affiliate. Federal securities law limits the percentage of such “interested persons” who may serve on a trust’s board, and the trust was in compliance with these limitations throughout the report period. The trust did not pay any of these interested persons for their services as trustees.
7. Borrowing from Banks:
The funds have access to custodian overdraft facilities and to an uncommitted line of credit of $100 million with State Street. The funds pay interest on the amounts they borrow at rates that are negotiated periodically.
There were no borrowings from the line of credit by the funds during the period. However, the funds may have utilized their overdraft facility and incurred interest expense, which is disclosed on the Statement of Operations, if any. The interest expense is determined based on a negotiated rate above the current Federal Funds Rate.
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Schwab U.S. ETFs
Financial Notes, unaudited (continued)
8. Purchases and Sales/Maturities of Investment Securities:
For the period ended February 29, 2012, purchases and sales/maturities of securities (excluding in-kind transactions and short-term obligations) were as follows:
Purchases of Securities | Sales/Maturities of Securities | |||||||
Schwab U.S. Broad Market ETF | $23,319,032 | $17,360,785 | ||||||
Schwab U.S. Large-Cap ETF | 17,265,371 | 13,799,510 | ||||||
Schwab U.S. Large-Cap Growth ETF | 15,993,259 | 14,376,110 | ||||||
Schwab U.S. Large-Cap Value ETF | 13,408,855 | 12,280,178 | ||||||
Schwab U.S. Mid-Cap ETF | 12,943,921 | 10,042,375 | ||||||
Schwab U.S. Small-Cap ETF | 37,906,543 | 25,975,703 | ||||||
Schwab U.S. Dividend Equity ETF | 3,119,022 | 2,056,287 |
9. In-Kind Transactions:
The consideration for the purchase of Creation Units of a fund generally consists of the in-kind deposit of a designated portfolio of securities, which constitutes an optimized representation of the securities involved in a relevant fund’s underlying index, and an amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
The in-kind transactions for the period ended February 29, 2012 were as follows:
In-kind Purchases of Securities | In-kind Sales of Securities | |||||||
Schwab U.S. Broad Market ETF | $188,133,139 | $38,982,857 | ||||||
Schwab U.S. Large-Cap ETF | 142,767,174 | 20,299,083 | ||||||
Schwab U.S. Large-Cap Growth ETF | 75,881,679 | 33,910,777 | ||||||
Schwab U.S. Large-Cap Value ETF | 56,739,690 | 20,166,821 | ||||||
Schwab U.S. Mid-Cap ETF | 121,533,688 | 22,846,472 | ||||||
Schwab U.S. Small-Cap ETF | 155,346,846 | 53,418,345 | ||||||
Schwab U.S. Dividend Equity ETF | 287,641,773 | — |
For the period ended February 29, 2012, certain funds realized net capital gains or losses resulting from in-kind redemptions of large blocks of shares or multiples thereof (“Creation Units”). Because such gains or losses are not taxable to the funds and are not distributed to existing fund shareholders, the gains or losses are reclassified from accumulated net realized gains or losses to paid-in-capital at the end of the funds’ tax year. These reclassifications have no effect on net assets or net asset values per share. The net realized in-kind gains or losses for the period ended February 29, 2012 are disclosed in the funds’ Statements of Operations.
10. Federal Income Taxes
Capital loss carryforwards may be used to offset future realized capital gains, for federal income tax purposes. As of August 31, 2011, the following funds had capital loss carryforwards available to offset future net capital gains before the expiration date as follows:
Schwab U.S. | Schwab U.S. | Schwab U.S. | Schwab U.S. | |||||||||||||||||||||||||
Broad | Schwab U.S. | Large-Cap | Large-Cap | Schwab U.S. | Schwab U.S. | Dividend | ||||||||||||||||||||||
Market | Large-Cap | Growth | Value | Mid-Cap | Small-Cap | Equity | ||||||||||||||||||||||
Expiration Date | ETF | ETF | ETF | ETF | ETF | ETF | ETF | |||||||||||||||||||||
August 31, 2019 | $— | $721,062 | $691,441 | $295,384 | $— | $927,632 | $— | |||||||||||||||||||||
No expiration | — | — | — | — | 218,695 | — | — | |||||||||||||||||||||
Total | $— | $721,062 | $691,441 | $295,384 | $218,695 | $927,632 | $— | |||||||||||||||||||||
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Schwab U.S. ETFs
Financial Notes, unaudited (continued)
10. Federal Income Taxes (continued):
For tax purposes, realized net capital losses occurring after October 31, may be deferred and treated as occurring on the first day of the following fiscal year. For the year ended August 31, 2011, capital losses deferred for each fund were as follows:
Schwab U.S. | Schwab U.S. | Schwab U.S. | Schwab U.S. | |||||||||||||||||||||||||
Broad | Schwab U.S. | Large-Cap | Large-Cap | Schwab U.S. | Schwab U.S. | Dividend | ||||||||||||||||||||||
Market | Large-Cap | Growth | Value | Mid-Cap | Small-Cap | Equity | ||||||||||||||||||||||
ETF | ETF | ETF | ETF | ETF | ETF | ETF | ||||||||||||||||||||||
Deferred capital losses | $— | $457,674 | $1,015,808 | $250,819 | $— | $— | $— |
As of August 31, 2011, management has reviewed the tax positions for open periods (for federal purposes, three years from the date of filing and for state purposes, four years from the date of filing) as applicable to the funds, and has determined that no provision for income tax is required in the funds’ financial statements. The funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the year ended August 31, 2011, the funds did not incur any interest or penalties.
On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (“the Act”) was signed by the President. The Act is the first major piece of legislation affecting Regulated Investment Companies (“RICs”) since 1986 and it modernizes several of the federal income and excise tax provisions related to RICs.
Certain of the enacted provisions include:
Post-enactment capital losses may now be carried forward indefinitely, but must retain the character of the original loss. Under pre-enactment law, capital losses could be carried forward for eight years, and carried forward as short-term capital, irrespective of the character of the original loss. The Act contains simplification provisions, which are aimed at preventing disqualification of a RIC for “inadvertent” failures of the asset diversification and/or qualifying income tests. Additionally, the Act exempts RICs from the preferential dividend rule, and repeals the 60-day designation requirement for certain types of pay-through income and gains.
Finally, the Act contains several provisions aimed at preserving the character of distributions made by a fiscal year RIC during the portion of its taxable year ending after October 31 or December 31, reducing the circumstances under which a RIC might be required to file amended Forms 1099 to restate previously reported distributions.
Except for the simplification provisions related to RIC qualification, the Act is effective for taxable years beginning after December 22, 2010. The provisions related to RIC qualification are effective for taxable years for which the extended due date of the tax return is after December 22, 2010. The funds are fully compliant with the noted provisions of the Act for the period ending February 29, 2012.
11. Subsequent Events:
Management has determined there are no subsequent events or transactions through the date the financial statements were issued that would have materially impacted the financial statements as presented.
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Investment Advisory Agreement Approval
The Investment Company Act of 1940 (the “1940 Act”) requires that initial approval of, as well as the continuation of, a fund’s investment advisory agreement must be specifically approved (1) by the vote of the trustees or by a vote of the shareholders of the fund, and (2) by the vote of a majority of the trustees who are not parties to the investment advisory agreement or “interested persons” of any party (the “Independent Trustees”), cast in person at a meeting called for the purpose of voting on such approval. In connection with such approvals, the fund’s trustees must request and evaluate, and the investment adviser is required to furnish, such information as may be reasonably necessary to evaluate the terms of the investment advisory agreement.
Initial Approval of Investment Advisory Agreement
The Board of Trustees (the “Board” or the “Trustees”, as appropriate) called and held a meeting on August 4, 2011, in part, for the purpose of considering whether to appoint Charles Schwab Investment Management, Inc. (“CSIM”) as investment adviser to Schwab U.S. Dividend Equity ETF (the “Fund”) under the investment advisory agreement between Schwab Strategic Trust and CSIM (the “Agreement”). In preparation for the meeting, the Board requested and reviewed a variety of materials provided by CSIM with respect to the services to be provided to the Fund under the Agreement. The Independent Trustees met in executive session outside the presence of fund management and participated in question and answer sessions with representatives of CSIM.
The Board, including a majority of the Independent Trustees approved the Agreement with respect to the Fund. The Board’s approval was based on consideration and evaluation of a variety of specific factors discussed at this meeting, including:
1. | the nature, extent and quality of the services to be provided to the Fund under the Agreement, including the resources of CSIM and its affiliates to be dedicated to the Fund; |
2. | CSIM’s investment performance in managing other Fund having relevant investment objectives and strategies; |
3. | the Fund’s estimated expenses and how those expenses compared to those of certain other comparable exchange-traded funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (“Schwab”), with respect to management of other funds, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale may be realized as the Fund grows and whether fee levels in the Agreement relating to the Fund reflect those economies of scale for the benefit of Fund investors. |
Nature, Extent and Quality of Services. The Board considered the nature, extent and quality of the services to be provided by CSIM to the Fund and the resources of CSIM and its affiliates will dedicate to the Fund. In this regard, the Trustees evaluated, among other things, CSIM’s personnel, experience, track record and compliance program. The Trustees also considered the fact that Schwab’s extensive branch network, Internet access, investment and research tools, telephone services, and array of account features may be expected to benefit the Fund and its shareholders. The Trustees also considered Schwab’s excellent reputation as a full service brokerage firm and its overall financial condition. Following such evaluation, the Board concluded, within the context of its full deliberations, that the nature, extent and quality of services to be provided by CSIM to the Fund and the resources of CSIM and its affiliates dedicated to the Fund supported approval of the Agreement with respect to the Fund.
Performance. With regard to Fund performance, since the Fund had not commenced operations and therefore did not have any performance of its own, the Board considered performance of other funds having comparable investment objectives in determining whether to approve the Agreement. The Trustees also considered both risk and shareholder risk expectations for the Fund and the appropriateness of the benchmark that would be used to compare the performance of the Fund. Following such evaluation the Board concluded, within the context of its full deliberations, that the performance of CSIM supported approval of the Agreement with respect to the Fund.
Fund Expenses. With respect to the Fund’s expenses, the Trustees considered the rate of compensation called for by the Agreement, and the Fund’s estimated net operating expense ratio in comparison to those of other comparable exchange-traded funds. The Board evaluated the Fund’s unitary fee through review of comparative information with respect to fees paid by similar exchange-traded funds tracking equity indexes. Following such evaluation, the Board concluded, within the context of its full deliberations, that the expenses of the Fund are reasonable and supported approval of the Agreement with respect to the Fund.
Profitability. With regard to profitability, the Trustees considered the compensation flowing to CSIM and its affiliates directly or indirectly. The Trustees also considered any other benefits derived by CSIM from its relationship with the Fund, such as whether, by virtue of its management of the Fund, CSIM obtains investment information or other research resources that aid it in providing advisory services to other clients. The Trustees considered whether the varied
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levels of compensation and profitability under the Agreement and other service agreements were reasonable and justified in light of the quality of all services rendered to the Fund by CSIM and its affiliates. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the expected profitability of CSIM, albeit uncertain, is reasonable and supported approval of the Agreement with respect to the Fund.
Economies of Scale. Recognizing that the Fund had not yet commenced operations and had no assets, the Trustees considered the possible development of any economies of scale and whether those could be expected to be passed along to the Fund’s shareholders through various efficiencies that may result from increases in the Fund’s assets. The Board determined that such economies of scale will be shared by way of the relatively low advisory fee and unitary fee structure of the Fund, although the Board will continue to monitor fees as the Fund grows in size and assess whether breakpoints may be warranted. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the Fund may be expected to obtain reasonable benefit from economies of scale if such economies develop.
In the course of their deliberations, the Trustees did not identify any particular information or factor that was all important or controlling. Based on the Trustees’ deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, unanimously approved the Agreement as it relates to the Fund and concluded that the compensation under the Agreement relating to the Fund is fair and reasonable in light of such services and expenses and such other matters as the Trustees have considered to be relevant in the exercise of their reasonable judgment.
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Trustees and Officers
The tables below give information about the trustees and officers for the Schwab Strategic Trust which includes the funds covered in this report. The “Fund Complex” includes the Charles Schwab Family of Funds, Schwab Capital Trust, Schwab Investments, Schwab Annuity Portfolios, Schwab Strategic Trust, Laudus Trust and Laudus Institutional Trust. The Fund Complex includes 92 funds.
The address for all trustees and officers is 211 Main Street, San Francisco, CA 94105. You can find more information about the trustees and officers in the Statement of Additional Information, which is available free by calling 1-800-435-4000.
Independent Trustees
Name, Year of Birth, | Number of | |||||
and Position(s) with | Portfolios in | |||||
the trust; (Terms of | Fund Complex | |||||
office, and length of | Principal Occupations | Overseen by | ||||
Time Served1) | During the Past Five Years | the Trustee | Other Directorships | |||
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009.) | Retired (January 2009 – present). Consulting Managing Director, PIMCO (investment adviser) (January 2003 – December 2008); Managing Director, PIMCO (February 1999 – December 2002); President and Trustee, PIMCO Funds and PIMCO Variable Insurance Trust (investments) (February 1994 – May 2005). | 17 | Director, PS Business Parks, Inc. (2005 – present). Trustee, PIMCO Funds (investment company consisting of 84 portfolios) (1997 – 2008). Trustee, PIMCO Variable Insurance Trust (investment company consisting of 16 portfolios) (1997 – 2008). Director and Chairman, PIMCO Strategic Global Government Fund (investment company consisting of one portfolio) (1997 – 2008). Director, PCM Fund, Inc. (investment company consisting of one portfolio) (1997 – 2008). | |||
Mark A. Goldfarb 1952 Trustee (Trustee of Schwab Strategic Trust since 2009.) | Founder and Managing Director, SS&G, Inc. (certified public accountants and advisers) (May 1987 – present). | 17 | None | |||
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009.) | Advisor (January 2008 – present) and Chief Executive Officer (January 1998 – January 2008), Asset International, Inc. (publisher of financial services information); Managing Partner and Co-Founder, Kudu Advisors, LLC (financial services) (June 2008 – present). | 17 | None | |||
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Interested Trustees
Name, Year of Birth, | Number of | |||||
and Position(s) with | Portfolios in | |||||
the trust; (Terms of | Fund Complex | |||||
office, and length of | Principal Occupations | Overseen by | ||||
Time Served ) | During the Past Five Years | the Trustee | Other Directorships | |||
Walter W. Bettinger II2 1960 Trustee (Trustee of Schwab Strategic Trust since 2009.) | As of October 2008, President and Chief Executive Officer, Charles Schwab & Co., Inc. and The Charles Schwab Corporation. Since October 2008, Director, The Charles Schwab Corporation. Since May 2008, Director, Charles Schwab & Co., Inc. and Schwab Holdings, Inc. Since 2006, Director, Charles Schwab Bank. From 2004 through 2007, Executive Vice President and President, Schwab Investor Services. From 2004 through 2005, Executive Vice President and Chief Operating Officer, Individual Investor Enterprise, and from 2002 through 2004, Executive Vice President, Corporate Services. Until October 2008, President and Chief Operating Officer, Charles Schwab & Co., Inc. and The Charles Schwab Corporation. | 92 | None | |||
Officers of the Trust
Name, Year of Birth, and Position(s) | ||
with the trust; (Terms of office, and | ||
length of Time Served3) | Principal Occupations During the Past Five Years | |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of Schwab Strategic Trust since 2010.) | Executive Vice President, Charles Schwab & Co., Inc. (Sept. 2010 – present); Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (March 2007 – August 2010); Co-Head and Senior Portfolio Manager, Wells Capital Management (June 1999 – March 2007). | |
George Pereira 1964 Treasurer and Principal Financial Officer (Officer of Schwab Strategic Trust since 2009.) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present); Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Fund, PLC and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present); Treasurer, Chief Financial Officer and Chief Accounting Officer, Excelsior Funds Inc., Excelsior Tax-Exempt Funds, Inc., and Excelsior Funds Trust (June 2006 – June 2007). | |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of Schwab Strategic Trust since 2011.) | Senior Vice President and Chief Investment Officer — Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer — Equities, Schwab Funds and Laudus Funds (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). | |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of Schwab Strategic Trust since 2011.) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds and Laudus Funds (June 2011 – present); Senior Managing Director, Global Head of Active Fixed Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies, Loomis, Sayles & Company (April 2006 – Jan. 2008); Managing Director, Head of Market-Based Strategies State Street Research (August 2003 – Jan. 2005). | |
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Officers of the Trust (continued)
Name, Year of Birth, and Position(s) | ||
with the trust; (Terms of office, and | ||
length of Time Served3) | Principal Occupations During the Past Five Years | |
David Lekich 1964 Secretary and Chief Legal Officer (Officer of Schwab Strategic Trust since 2011.) | Senior Vice President, Charles Schwab & Co., Inc. (Sept. 2011 – present); Senior Vice President and Chief Counsel, Charles Schwab Investment Management Inc. (Sept. 2011 – present); Vice President, Charles Schwab & Co., Inc., (March 2004 – Sept. 2011) and Charles Schwab Investment Management, Inc. (Jan 2011 – Sept. 2011); Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds (April 2011 – present); Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. | |
Catherine MacGregor 1964 Vice President and Assistant Secretary (Officer of Schwab Strategic Trust since 2009.) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (March 2007 – present), Laudus Funds; Vice President and Assistant Secretary, Schwab Funds (June 2007 – present) and Schwab ETFs (Oct. 2009 – present). | |
Michael Haydel 1972 Vice President (Officer of Schwab Strategic Trust since 2009.) | Senior Vice President (March 2011 – present), Vice President (2004 – March 2011), Asset Management Client Services, Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Anti-Money Laundering Officer (Oct. 2005 – Feb. 2009), Laudus Funds; Vice President, Schwab Funds (June 2007 – present) and Schwab ETFs (Oct. 2009 – present). | |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The Trust’s retirement policy requires that independent trustees retire by December 31 of the year in which the Trustee turns 72 or the Trustee’s twentieth year of service as an independent trustee, whichever comes first. | |
2 | Mr. Bettinger is an Interested Trustee because he is an employee of Schwab and/or the investment adviser. In addition to his employment with the investment adviser and Schwab, Mr. Bettinger also owns stock of The Charles Schwab Corporation. | |
3 | The President, Treasurer and Secretary hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
114
Glossary
ask See “offer.”
asset allocation The practice of dividing a portfolio among different asset classes, with each asset class assigned a particular percentage to help offset risks and rewards, based on your goals, time horizon and risk tolerance.
asset class A group of securities with similar structure and basic characteristics. Stocks, bonds and cash are the three main examples of asset classes.
authorized participant (AP) A large institutional investor that places orders for creation units with the funds’ distributor.
beta A historical measure of an investment’s volatility relative to a market index (usually the S&P 500®). The index is defined as having a beta of 1.00. Investments with a beta higher than 1.00 have been more volatile than the index; those with a beta of less than 1.00 have been less volatile.
bid The highest price at which someone is willing to buy a security.
cap, capitalization See “market cap.”
capital gain, capital loss The difference between the amount paid for an investment and its value at a later time. If the investment has been sold, the capital gain or loss is considered a realized gain or loss. If the investment is still held, the gain or loss is still “on paper” and is considered unrealized.
commencement of operations The date that the first NAV was calculated.
creation unit (C.U.) A basket of securities that is delivered by an authorized participant (AP) to the fund equal to the current holdings of the ETF, plus a designated cash component. In return, the APs receive a large block of ETF shares (typically 50,000 shares), which investors can then buy and sell in the secondary market.
exchange A marketplace, or any organization or group that provides or maintains a marketplace for trading securities, options, futures, or commodities.
expense ratio The amount that is taken from the fund’s assets each year to cover the operating expenses. An expense ratio of 0.50% means that a fund’s expenses amount to half of one percent of its average net assets a year.
gross domestic product (GDP) The output of goods and services produced by labor and property located in the United States.
inception date The date that the shares began trading in the secondary market.
indicative optimized portfolio value (IOPV) A calculation disseminated by the stock exchange that approximates the fund’s NAV every 15 seconds throughout the trading day.
liquidity The ability to convert a security or asset quickly into cash.
market cap, market capitalization The value of a company as determined by the total value of all shares of its stock outstanding.
market price return The return based on the change in market price per share of the fund over a given time period. Market price returns assume that dividends and capital gain distributions have been reinvested in the fund at market price.
median market cap The midpoint of the range of market caps of the stocks held by a fund. There are different ways of calculating median market cap. With a simple median, half of the stocks in the fund’s portfolio would be larger than the median, and half would be smaller. With a weighted median (the type that is calculated for these funds), half of the fund’s assets are invested in stocks that are larger than the median market cap, and half in stocks that are smaller.
MSCI EAFE (Europe, Australasia, Far East) Index A free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. & Canada.
net asset value (NAV) The value of one share of a fund. NAV is calculated by taking the fund’s total assets, subtracting liabilities, and dividing by the number of shares outstanding.
NAV return The return based on the change in NAV of the fund over a given time period. NAV returns assume that dividends and capital gain distributions have been reinvested in the fund.
offer (ask) The lowest price at which an individual is willing to sell a security.
open The price at which a security opened for trading on a given day.
outstanding shares, shares outstanding When speaking of the fund, indicates all shares currently held by investors.
price-to-book ratio (P/B) The market price of a company’s stock compared with its “book value.” A mutual fund’s P/B is the weighted average of the P/B of all stocks in the fund’s portfolio.
price-to-earnings ratio (P/E) The market price of a company’s stock compared with earnings over the past year. A mutual fund’s P/E is the weighted average of the P/E of all stocks in the fund’s portfolio.
primary market The market that deals with the issuance of new securities.
S&P 500 Index A market capitalization index that is designed to measure the performance of 500 leading publicly held companies in leading industries of the U.S. economy.
sampling If a fund uses a sampling method, the fund will not fully replicate the benchmark index and may hold securities not included in the index. A fund that utilizes a sampling approach may not track the return of the index.
secondary market The market in which investors purchase securities from other investors rather than directly from the issuing companies. Organized exchanges facilitate the trading of securities in the secondary market.
spread The gap between bid and ask prices of a security.
stock A share of ownership, or equity, in the issuing company.
total return The percentage that an investor would have earned or lost on an investment in the fund assuming dividends and distributions were reinvested.
tracking error The difference between the performance of the fund and its benchmark index, positive or negative.
115
Notes
Schwab ETFstmare designed to be low-cost, diversified investments. Each fund follows broad market indices and provides exposure to specific segments of the market, making each a solid investment option for the core portions of an investor portfolio. The list to the right shows all currently available Schwab ETFs.
Investors should carefully consider information contained in the prospectus, including investment objectives, risks, charges and expenses before investing. Please call 1-800-435-4000 for a prospectus and brochure for any Schwab ETF. Please read the prospectus carefully before you invest. This report must be preceded or accompanied by a current prospectus.
Proxy Voting Policies, Procedures and Results
A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab ETFs’ website at www.schwabetfs.com, the SEC’s website at http://www.sec.gov, or by contacting Schwab ETFs at 1-800-435-4000.
Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund’s website at www.schwabetfs.com or the SEC’s website at http://www.sec.gov.
Schwab ETFs
U.S. ETFs
Schwab U.S. Broad Market ETFtm
Schwab U.S. Large-Cap ETFtm
Schwab U.S. Large-Cap Growth ETFtm
Schwab U.S. Large-Cap Value ETFtm
Schwab U.S. Mid-Cap ETFtm
Schwab U.S. Small-Cap ETFtm
Schwab U.S. Dividend Equity ETFtm
Schwab U.S. REIT ETFtm
International ETFs
Schwab International Equity ETFtm
Schwab International Small-Cap Equity ETFtm
Schwab Emerging Markets Equity ETFtm
Fixed Income ETFs
Schwab U.S. Aggregate Bond ETFtm
Schwab Short-Term U.S. Treasury ETFtm
Schwab Intermediate-Term U.S. Treasury ETFtm
Schwab U.S. TIPS ETFtm
Investment Adviser
Charles Schwab Investment Management, Inc.
211 Main Street, San Francisco, CA 94105
Schwab ETFstm
1-800-435-4000
This report is not authorized for distribution to prospective investors
unless preceded or accompanied by a current prospectus.
© 2012 Charles Schwab Investment Management, Inc. All rights reserved.
Printed on recycled paper.
MFR54789-02
Semiannual report dated February 29, 2012, enclosed
Schwab International ETFs
Schwab International
Equity ETFtm
Schwab International Small-Cap
Equity ETFtm
Schwab Emerging Markets
Equity ETFtm
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Schwab International ETFs
Semiannual Report
February 29, 2012
Schwab International
Equity ETFtm
Schwab International Small-Cap
Equity ETFtm
Schwab Emerging Markets
Equity ETFtm
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In This Report
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3 | ||
5 | ||
6 | ||
8 | ||
10 | ||
12 | ||
13 | ||
33 | ||
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69 | ||
77 | ||
80 |
Fund investment adviser: Charles Schwab Investment Management, Inc. (CSIM).
Distributor: SEI Investments Distribution Co. (SIDCO).
Distributor: SEI Investments Distribution Co. (SIDCO).
The Sector/Industry classifications in this report use the Global Industry Classification Standard (GICS) which was developed by and is the exclusive property of Morgan Stanley Capital International Inc. (MSCI) and Standard & Poor’s (S&P). GICS is a service mark of MSCI and S&P and has been licensed for use by Charles Schwab & Co., Inc. The Industry classifications used in the schedules of Portfolio Holdings are sub-categories of Sector classifications.
Performance at a Glance
The performance quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Total Return for the Report Period* | ||||
Schwab International Equity ETFtm (Ticker Symbol: SCHF) | ||||
NAV Return1 | 3.50% | |||
Market Price Return1 | 3.54% | |||
FTSE Developed ex-US Index | 3.60% | |||
ETF Category: Morningstar Foreign Large-Cap Blend2 | 3.11% | |||
Performance Details | pages 6-7 | |||
Schwab International Small-Cap Equity ETFtm (Ticker Symbol: SCHC) | ||||
NAV Return1 | 0.23% | |||
Market Price Return1 | 0.90% | |||
FTSE Developed Small Cap ex-US Liquid Index | 0.39% | |||
ETF Category: Morningstar Foreign Small/Mid Growth2 | -1.78% | |||
Performance Details | pages 8-9 | |||
Schwab Emerging Markets Equity ETFtm (Ticker Symbol: SCHE) | ||||
NAV Return1 | 4.86% | |||
Market Price Return1 | 4.31% | |||
FTSE All-Emerging Index | 5.24% | |||
ETF Category: Morningstar Diversified Emerging Markets2 | 3.95% | |||
Performance Details | pages 10-11 | |||
All fund and index figures on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized. Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price (not NAV). Brokerage commissions will reduce returns.
Index ownership — “FTSE®” is a trademark jointly owned by the London Stock Exchange plc and The Financial Times Limited and is used by FTSE International Limited (“FTSE”) under license. FTSE does not sponsor, endorse or promote Schwab ETFs and does not accept any liability in relation to their issue, operation and trading.
* | The report period covers the six months beginning September 1, 2011 through February 29, 2012. |
1 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
2 | The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
2 Schwab International ETFs
From the President
Marie Chandoha is President and CEO of Charles Schwab Investment Management, Inc., and the funds covered in this report.
Dear Shareholder,
As President and CEO of Charles Schwab Investment Management, Inc., I’d like to thank you for trusting us with your investment needs, and for reading this important report concerning the Schwab International ETFs.
For the six months ended February 29, 2012, international stock investors experienced two sharply contrasting performance environments: the risk-averse environment of 2011, and the comparatively risk-tolerant environment of early 2012. As discussed in more detail below, the euro zone’s sovereign debt crisis, mixed economic growth, and financial market volatility were catalysts for these two sharply different investment settings. For the six-month report period, the FTSE All Emerging Index returned 5.24%, the FTSE Developed ex-U.S. Index returned 3.60%, and the FTSE Developed Small Cap ex-U.S. Liquid Index returned 0.39%.
The euro zone’s ongoing sovereign debt crisis represented one of the primary reasons for the limited economic growth globally, while also fueling substantial financial market volatility. The pressure brought on by this debt crisis was particularly clear in the latter part of 2011. Ongoing efforts by European leaders to restructure Greece’s sovereign debt, while at the same time attempting to avoid a default, translated into an anxiety-ridden climate for investors. Amid this uncertain financial market backdrop, the Federal Reserve and European Central Bank acted in close coordination to ensure that financial markets had ample liquidity. In spite of this collaboration, investment capital generally favored perceived “safe haven” countries such as the U.S. in 2011.
On the economic front, results were mixed. Government initiatives aimed at controlling inflation, currency values, and rising prices in residential properties tempered economic activity within some emerging economies. Brazil’s economy, for example—which enjoys developed agricultural, service, mining, and manufacturing—is estimated to have expanded by an inflation-adjusted 2.8% in 2011 (as measured by real gross domestic product). This rate represented less than half of the
Asset Class Performance Comparison % returns during the report period
This graph compares the performance of various asset classes during the report period. Final performance figures for the period are in the key below.
13.31% | S&P 500® Index: measures U.S. large-cap stocks | |||
12.40% | Russell 2000® Index: measures U.S. small-cap stocks | |||
4.26% | MSCI EAFE® Index: measures (in U.S. dollars) large-cap stocks in Europe, Australasia and the Far East | |||
2.73% | Barclays Capital U.S. Aggregate Bond Index: measures the U.S. bond market | |||
0.01% | Three-Month U.S. Treasury Bills (T-bills): measures short-term U.S. Treasury obligations |
These figures assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and you cannot invest in them directly. Remember that past performance is not an indication of future results.
Data source: Index provider websites and Charles Schwab Investment Management, Inc.
Nothing in this report represents a recommendation of a security by the investment adviser.
Manager views and portfolio holdings may have changed since the report date.
Schwab International ETFs 3
From the President continued
International stock investors experienced two sharply contrasting performance environments: the risk-averse environment of 2011, and the comparatively risk-tolerant environment of early 2012.
country’s 2010 pace and a steeper deceleration than was originally expected. China’s economy slowed while heading toward a forecasted “soft landing”—moderate but relatively robust economic growth—and decreased manufacturing activity tempered economic expansion in Hong Kong, South Korea, and Thailand.
In addition, economic activity in some developed markets decelerated heading into 2012. With U.S. growth expanding at what could be perceived as a frustratingly slow pace, demand for European exports was limited, and Europe confronted the effects of austerity measures that weighed on its own economic growth. As a result, the euro zone headed toward what the European Commission—the Directorate-General for Economic and Financial Affairs in Europe—forecasted in February would be a mild recession. By comparison, U.S. economic growth gained some momentum heading into 2012. In Japan, reduced demand from developed nations represented a significant hurdle for the country’s export-driven economy, while domestic reconstruction provided a modest counterbalance.
With that backdrop in mind, international equities started out the six months on a sour note, selling off sharply in September 2011. A worrisome soft patch in U.S. economic data that fueled fears of recession was one catalyst for the selloff, while the stock market’s reaction to Standard & Poor’s August downgrade of long-term Treasuries—and worries about possible credit-related aftershocks—was another. In addition, data began to suggest an unexpectedly quick deceleration of economic growth in China, while the euro zone’s crisis worsened.
Investors’ interest in riskier assets shifted sharply as 2012 began, however. U.S. economic data improved and paved the way for a potential increase in demand for imports. China’s economy slowed but didn’t stall, while a long-awaited resolution to the debt crisis in Greece seemed not only possible but likely. As a result, investors turned to the same markets they had largely avoided in 2011. For the first two months of 2012, the FTSE All Emerging Index, FTSE Developed ex-U.S. Index, and FTSE Developed Small Cap ex-U.S. Liquid Index each experienced double-digit returns, a sharp contrast to the comparatively negative returns generated for the last four months of 2011.
For details concerning the characteristics and investment performance of the Schwab International ETFs, please read the pages that follow this letter.
We also encourage you to review your investment portfolio regularly to make sure it meets your current financial plan. For answers to questions you may have or to consult our website for more information, please visit www.schwabetfs.com. We are also happy to hear from you at 1-800-435-4000.
Sincerely,
Indices are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. Index return figures assume dividends and distributions were reinvested.
4 Schwab International ETFs
Fund Management
Agnes Hong, CFA, a managing director and portfolio manager of the investment adviser, has day-to-day responsibility for the co-management of the funds. Prior to joining the firm in September 2009, she worked for five years as a portfolio manager for a major asset management firm. Prior to that, she worked in strategy and management consulting for five years. In addition, she also worked as a senior product manager servicing global financial services clients. | ||
Ferian Juwono, CFA, a managing director and portfolio manager of the investment adviser, has day-to-day responsibility for the co-management of the funds. Prior to joining the firm in May 2010, he was a portfolio manager at a major asset management firm for three years. Before that position, he was a senior business analyst at a major financial firm for nearly two years. In addition, he was a senior financial analyst at a regional banking firm for four years. |
Schwab International ETFs 5
Schwab International Equity ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab International Equity ETFtm (11/3/09) | |||||||||||||||
NAV Return2 | 3.50 | % | -7.33 | % | 4.63 | % | |||||||||
Market Price Return2 | 3.54 | % | -7.86 | % | 4.68 | % | |||||||||
FTSE Developed ex-US Index | 3.60 | % | -7.25 | % | 4.89 | % | |||||||||
ETF Category: Morningstar Foreign Large Blend3 | 3.11 | % | -7.62 | % | 5.51 | % |
Fund Expense Ratio4: 0.13%
Country Weightings % of Investments
Japan | 17.1% | |||
United Kingdom | 16.6% | |||
Canada | 9.0% | |||
France | 8.3% | |||
Australia | 7.2% | |||
Germany | 7.1% | |||
Switzerland | 6.9% | |||
Republic of Korea | 5.0% | |||
Hong Kong | 4.0% | |||
Netherlands | 3.8% | |||
Other Countries | 15.0% | |||
Total | 100.0% |
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
International investing may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principals, or from economic or political instability in other nations.
Index ownership — “FTSE®” is a trademark jointly owned by the London Stock Exchange plc and The Financial Times Limited and is used by FTSE International Limited (“FTSE”) under license. FTSE does not sponsor, endorse or promote Schwab ETFs and does not accept any liability in relation to their issue, operation and trading.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. |
6 Schwab International ETFs
Performance Summary as of 2/29/12 continued
Statistics
Number of Holdings | 977 | |||
Weighted Average Market Cap ($ x 1,000,000) | $47,644 | |||
Price/Earnings Ratio (P/E) | 19.7 | |||
Price/Book Ratio (P/B) | 1.1 | |||
Portfolio Turnover Rate1 | 4% |
Sector Weightings % of Investments
Financials | 23.6% | |||
Industrials | 12.4% | |||
Materials | 11.4% | |||
Consumer Discretionary | 10.3% | |||
Energy | 10.1% | |||
Consumer Staples | 10.0% | |||
Health Care | 7.7% | |||
Information Technology | 5.8% | |||
Telecommmunication Services | 4.8% | |||
Utilities | 3.8% | |||
Other | 0.1% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets2
Nestle S.A. - Reg’d | 1.6% | |||
Samsung Electronics Co., Ltd. GDR - Reg’d | 1.2% | |||
HSBC Holdings plc | 1.2% | |||
BP plc | 1.1% | |||
Royal Dutch Shell plc, A Shares | 1.0% | |||
Vodafone Group plc | 1.0% | |||
Novartis AG - Reg’d | 1.0% | |||
Total S.A. | 0.9% | |||
BHP Billiton Ltd. | 0.9% | |||
Roche Holding AG | 0.9% | |||
Total | 10.8% |
Portfolio holdings may have changed since the report date.
Source of Sector Classification: S&P and MSCI.
1 | Not annualized. | |
2 | This list is not a recommendation of any security by the investment adviser. |
Schwab International ETFs 7
Schwab International Small-Cap Equity ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab International Small-Cap Equity ETFtm (1/14/10) | |||||||||||||||
NAV Return2 | 0.23 | % | -7.32 | % | 5.80 | % | |||||||||
Market Price Return2 | 0.90 | % | -7.82 | % | 5.91 | % | |||||||||
FTSE Developed Small Cap ex-US Liquid Index | 0.39 | % | -7.41 | % | 6.26 | % | |||||||||
ETF Category: Morningstar Foreign Small/Mid Growth3 | -1.78 | % | -10.90 | % | 3.40 | % |
Fund Expense Ratio4: 0.35%
Country Weightings % of Investments
Canada | 21.0% | |||
United Kingdom | 17.3% | |||
Japan | 14.0% | |||
Australia | 8.0% | |||
Republic of Korea | 4.3% | |||
Germany | 4.2% | |||
Switzerland | 3.5% | |||
Hong Kong | 3.4% | |||
France | 3.1% | |||
Sweden | 2.5% | |||
Other Countries | 18.7% | |||
Total | 100.0% |
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
International investing may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principals, or from economic or political instability in other nations.
Investments in smaller companies typically exhibit higher volatility.
Index ownership — “FTSE®” is a trademark jointly owned by the London Stock Exchange plc and The Financial Times Limited and is used by FTSE International Limited (“FTSE”) under license. FTSE does not sponsor, endorse or promote Schwab ETFs and does not accept any liability in relation to their issue, operation and trading.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. |
8 Schwab International ETFs
Performance Summary as of 2/29/12 continued
Statistics
Number of Holdings | 977 | |||
Weighted Average Market Cap ($ x 1,000,000) | $1,966 | |||
Price/Earnings Ratio (P/E) | 19.0 | |||
Price/Book Ratio (P/B) | 1.3 | |||
Portfolio Turnover Rate1 | 16% |
Sector Weightings % of Investments
Industrials | 20.6% | |||
Financials | 17.2% | |||
Materials | 15.5% | |||
Consumer Discretionary | 15.1% | |||
Energy | 10.0% | |||
Information Technology | 7.6% | |||
Consumer Staples | 5.9% | |||
Health Care | 4.5% | |||
Utilities | 2.4% | |||
Telecommunication Services | 1.0% | |||
Other | 0.2% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets2
New Gold, Inc. | 0.4% | |||
Baytex Energy Corp. | 0.4% | |||
Metro, Inc., A Shares | 0.4% | |||
Franco-Nevada Corp. | 0.4% | |||
Athabasca Oil Sands Corp. | 0.4% | |||
Onex Corp. | 0.4% | |||
Inmet Mining Corp. | 0.3% | |||
Centerra Gold, Inc. | 0.3% | |||
Viterra, Inc. | 0.3% | |||
Pembina Pipeline Corp. | 0.3% | |||
Total | 3.6% |
Portfolio holdings may have changed since the report date.
Source of Sector Classification: S&P and MSCI.
1 | Not annualized. | |
2 | This list is not a recommendation of any security by the investment adviser. |
Schwab International ETFs 9
Schwab Emerging Markets Equity ETF™
Performance Summary as of 2/29/12
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabetfs.com.
Average Annual Total Returns1
Fund and Inception Date | 6 Months | 1 Year | Since Inception* | ||||||||||||
Fund: Schwab Emerging Markets Equity ETFtm (1/14/10) | |||||||||||||||
NAV Return2 | 4.86 | % | -0.98 | % | 4.82 | % | |||||||||
Market Price Return2 | 4.31 | % | -2.19 | % | 4.71 | % | |||||||||
FTSE All-Emerging Index | 5.24 | % | -0.81 | % | 5.39 | % | |||||||||
ETF Category: Morningstar Diversified Emerging Markets3 | 3.95 | % | -2.00 | % | 3.59 | % |
Fund Expense Ratio4: 0.25%
Country Weightings % of Investments
Brazil | 19.2% | |||
China | 17.1% | |||
Taiwan | 12.6% | |||
South Africa | 10.1% | |||
India | 9.8% | |||
Russia | 6.8% | |||
Mexico | 5.3% | |||
Malaysia | 4.5% | |||
Indonesia | 3.0% | |||
Chile | 2.3% | |||
Other Countries | 9.3% | |||
Total | 100.0% |
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged, and you cannot invest in them directly. Performance results less than one year are not annualized.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF.
International investing may involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principals, or from economic or political instability in other nations.
Emerging markets involve heightened risks related to the same factors as well as increased volatility and lower trading volume.
Index ownership — “FTSE®” is a trademark jointly owned by the London Stock Exchange plc and The Financial Times Limited and is used by FTSE International Limited (“FTSE”) under license. FTSE does not sponsor, endorse or promote Schwab ETFs and does not accept any liability in relation to their issue, operation and trading.
* | Inception represents the date that the shares began trading in the secondary market. | |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption of fund shares. | |
2 | The fund’s per share net asset value (“NAV”) is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (“Market Price”) is determined by using the midpoint between the highest bid and the lowest offer on the primary stock exchange on which the shares of the fund are listed for trading, as of the time that the fund’s NAV is calculated. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. | |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. | |
4 | As stated in the prospectus. |
10 Schwab International ETFs
Performance Summary as of 2/29/12 continued
Statistics
Number of Holdings | 553 | |||
Weighted Average Market Cap ($ x 1,000,000) | $35,098 | |||
Price/Earnings Ratio (P/E) | 12.6 | |||
Price/Book Ratio (P/B) | 1.6 | |||
Portfolio Turnover Rate1 | 4% |
Sector Weightings % of Investments
Financials | 26.3% | |||
Energy | 16.4% | |||
Materials | 13.9% | |||
Information Technology | 8.9% | |||
Telecommunication Services | 8.8% | |||
Consumer Staples | 8.0% | |||
Industrials | 6.0% | |||
Consumer Discretionary | 5.8% | |||
Utilities | 3.9% | |||
Health Care | 1.2% | |||
Other | 0.8% | |||
Total | 100.0% |
Top Equity Holdings % of Net Assets2
Petroleo Brasileiro S.A. ADR | 2.2% | |||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 2.1% | |||
China Mobile Ltd. | 1.8% | |||
Gazprom ADR | 1.7% | |||
China Construction Bank Corp., H Shares | 1.6% | |||
Petroleo Brasileiro S.A. ADR | 1.6% | |||
America Movil S.A.B. de C.V., Series L | 1.5% | |||
Vale S.A. ADR | 1.4% | |||
Itau Unibanco Holding S.A. ADR | 1.4% | |||
Industrial & Commercial Bank of China Ltd., H Shares | 1.3% | |||
Total | 16.6% |
Portfolio holdings may have changed since the report date.
Source of Sector Classification: S&P and MSCI.
1 | Not annualized. | |
2 | This list is not a recommendation of any security by the investment adviser. |
Schwab International ETFs 11
Fund Expenses (Unaudited)
Examples for a $1,000 Investment
As a fund shareholder, you incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares; and, (2) ongoing costs, including management fees and other fund expenses.
The expense examples below are intended to help you understand your ongoing cost (in dollars) of investing in a fund and to compare this cost with the ongoing cost of investing in other mutual funds. These examples are based on an investment of $1,000 invested for six months beginning September 1, 2011 and held through February 29, 2012.
Actual Return lines in the table below provide information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value ¸ $1,000 = 8.6), then multiply the result by the number given for your fund or share class under the heading entitled “Expenses Paid During Period.”
Hypothetical Return lines in the table below provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed return of 5% per year before expenses. Because the return used is not an actual return, it may not be used to estimate the actual ending account value or expenses you paid for the period.
You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only, and do not reflect any transactional costs, including any redemption fees or brokerage commissions you may pay when purchasing or selling shares of the fund. If these transactional costs were included, your costs would have been higher.
Ending | ||||||||||||||||
Beginning | Account Value | Expenses Paid | ||||||||||||||
Expense Ratio1 | Account Value | (Net of Expenses) | During Period2 | |||||||||||||
(Annualized) | at 9/1/11 | at 2/29/12 | 9/1/11–2/29/12 | |||||||||||||
Schwab International Equity ETFtm | ||||||||||||||||
Actual Return | 0.13% | $ | 1,000 | $ | 1,035.00 | $ | 0.66 | |||||||||
Hypothetical 5% Return | 0.13% | $ | 1,000 | $ | 1,024.22 | $ | 0.65 | |||||||||
Schwab International Small-Cap Equity ETFtm | ||||||||||||||||
Actual Return | 0.35% | $ | 1,000 | $ | 1,002.30 | $ | 1.74 | |||||||||
Hypothetical 5% Return | 0.35% | $ | 1,000 | $ | 1,023.12 | $ | 1.76 | |||||||||
Schwab Emerging Markets Equity ETFtm | ||||||||||||||||
Actual Return | 0.25% | $ | 1,000 | $ | 1,048.60 | $ | 1.27 | |||||||||
Hypothetical 5% Return | 0.25% | $ | 1,000 | $ | 1,023.62 | $ | 1.26 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights. | |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 182 days of the period, and divided by 366 days of the fiscal year. |
12 Schwab International ETFs
Schwab International Equity ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 10/30/091– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 25.99 | 23.82 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.25 | 0.68 | 0.38 | |||||||||||
Net realized and unrealized gains (losses) | 0.54 | 1.96 | 2 | (1.52 | ) | |||||||||
Total from investment operations | 0.79 | 2.64 | (1.14 | ) | ||||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.75 | ) | (0.47 | ) | (0.04 | ) | ||||||||
Net asset value at end of period | 26.03 | 25.99 | 23.82 | |||||||||||
Total return (%) | 3.50 | 3 | 11.04 | (4.57 | )3 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.13 | 4 | 0.13 | 0.14 | 4,5 | |||||||||
Gross operating expenses | 0.13 | 4 | 0.13 | 0.14 | 4 | |||||||||
Net investment income (loss) | 2.36 | 4 | 3.10 | 2.94 | 4 | |||||||||
Portfolio turnover rate6 | 4 | 3 | 6 | 6 | 3 | |||||||||
Net assets, end of period ($ x 1,000) | 757,422 | 634,208 | 285,869 |
* Unaudited.
1 Commencement of operations.
2 The per share amount does not accord with the change in aggregate gains and losses in securities during the period because of the timing of sales and repurchases of fund shares in relation to fluctuating market values.
3 Not annualized.
4 Annualized.
5 Effective June 14, 2010, the annual operating expense was reduced. The ratio presented for period ended 8/31/10 is a blended rate.
6 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes 13
Schwab International Equity ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
99 | .0% | Common Stock | 736,060,508 | 750,212,140 | ||||||||
0 | .4% | Preferred Stock | 2,310,152 | 2,889,199 | ||||||||
0 | .1% | Other Investment Company | 507,296 | 507,296 | ||||||||
99 | .5% | Total Investments | 738,877,956 | 753,608,635 | ||||||||
0 | .3% | Collateral Invested for Securities on Loan | 2,281,438 | 2,281,438 | ||||||||
0 | .2% | Other Assets and Liabilities, Net | 1,532,285 | |||||||||
100 | .0% | Net Assets | 757,422,358 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 99.0% of net assets | ||||||||
Australia 7.2% | ||||||||
Banks 2.1% | ||||||||
Australia & New Zealand Banking Group Ltd. | 146,664 | 3,478,267 | ||||||
Bendigo & Adelaide Bank Ltd. | 27,354 | 228,457 | ||||||
Commonwealth Bank of Australia | 92,538 | 4,942,146 | ||||||
National Australia Bank Ltd. | 132,696 | 3,393,602 | ||||||
Westpac Banking Corp. | 172,854 | 3,903,287 | ||||||
15,945,759 | ||||||||
Capital Goods 0.0% | ||||||||
CSR Ltd. | 58,200 | 120,105 | ||||||
GWA Group Ltd. | 50,925 | 130,952 | ||||||
251,057 | ||||||||
Commercial & Professional Services 0.1% | ||||||||
Brambles Ltd. | 101,559 | 794,441 | ||||||
Downer EDI Ltd. * | 40,449 | 172,628 | ||||||
967,069 | ||||||||
Consumer Services 0.1% | ||||||||
Crown Ltd. | 39,576 | 359,183 | ||||||
Echo Entertainment Group Ltd. | 78,570 | 365,031 | ||||||
Tatts Group Ltd. | 152,484 | 392,109 | ||||||
1,116,323 | ||||||||
Diversified Financials 0.2% | ||||||||
ASX Ltd. | 13,095 | 438,321 | ||||||
Challenger Ltd. | 27,354 | 122,356 | ||||||
IOOF Holdings Ltd. | 24,735 | 148,056 | ||||||
Macquarie Group Ltd. | 20,370 | 589,175 | ||||||
1,297,908 | ||||||||
Energy 0.5% | ||||||||
Aquila Resources Ltd. * | 9,312 | 51,614 | ||||||
Energy Resources of Australia Ltd. * | 56,745 | 77,251 | ||||||
New Hope Corp., Ltd. | 23,280 | 143,623 | ||||||
Origin Energy Ltd. | 67,367 | 990,627 | ||||||
Paladin Energy Ltd. * | 25,317 | 51,152 | ||||||
Santos Ltd. | 52,380 | 816,085 | ||||||
Woodside Petroleum Ltd. | 31,437 | 1,264,898 | ||||||
WorleyParsons Ltd. | 14,259 | 452,478 | ||||||
3,847,728 | ||||||||
Food & Staples Retailing 0.6% | ||||||||
Metcash Ltd. | 60,819 | 278,618 | ||||||
Wesfarmers Ltd. | 54,417 | 1,710,930 | ||||||
Wesfarmers Ltd., Price Protected Shares | 12,513 | 403,833 | ||||||
Woolworths Ltd. | 66,057 | 1,806,408 | ||||||
4,199,789 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Coca-Cola Amatil Ltd. | 34,920 | 452,752 | ||||||
Treasury Wine Estates Ltd. | 49,914 | 209,786 | ||||||
662,538 | ||||||||
Health Care Equipment & Services 0.1% | ||||||||
Ansell Ltd. | 5,820 | 93,254 | ||||||
Cochlear Ltd. | 2,910 | 192,200 | ||||||
Ramsay Health Care Ltd. | 8,730 | 173,083 | ||||||
Sonic Healthcare Ltd. | 18,333 | 238,487 | ||||||
697,024 | ||||||||
Insurance 0.3% | ||||||||
AMP Ltd. | 165,915 | 718,844 | ||||||
Insurance Australia Group Ltd. | 149,574 | 534,920 | ||||||
QBE Insurance Group Ltd. | 56,163 | 706,938 | ||||||
Suncorp Group Ltd. | 53,835 | 475,798 | ||||||
2,436,500 | ||||||||
Materials 1.9% | ||||||||
Adelaide Brighton Ltd. | 32,883 | 106,585 | ||||||
Amcor Ltd. | 108,543 | 832,655 | ||||||
BHP Billiton Ltd. | 180,129 | 7,025,798 | ||||||
Boral Ltd. | 34,629 | 164,626 | ||||||
DuluxGroup Ltd. | 20,079 | 67,253 | ||||||
Fortescue Metals Group Ltd. | 119,310 | 718,020 | ||||||
Gunns Ltd. * | 340,470 | 64,376 | ||||||
Iluka Resources Ltd. | 43,068 | 777,098 | ||||||
Incitec Pivot Ltd. | 112,908 | 397,692 | ||||||
Newcrest Mining Ltd. | 37,830 | 1,368,851 | ||||||
Nufarm Ltd. * | 14,841 | 75,685 | ||||||
Orica Ltd. | 20,079 | 590,087 | ||||||
OZ Minerals Ltd. | 15,922 | 188,372 | ||||||
Rio Tinto Ltd. | 26,190 | 1,908,632 | ||||||
14,285,730 | ||||||||
Media 0.0% | ||||||||
APN News & Media Ltd. | 45,687 | 44,673 | ||||||
Consolidated Media Holdings Ltd. | 44,523 | 135,175 | ||||||
179,848 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
CSL Ltd. | 34,629 | 1,226,461 | ||||||
Real Estate 0.6% | ||||||||
CFS Retail Property Trust | 245,604 | 472,346 |
14 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Commonwealth Property Office Fund | 318,378 | 335,392 | ||||||
Dexus Property Group | 358,803 | 346,964 | ||||||
GPT Group | 123,747 | 417,152 | ||||||
Lend Lease Group | 41,072 | 332,378 | ||||||
Mirvac Group | 188,277 | 244,109 | ||||||
Stockland | 170,235 | 583,059 | ||||||
Westfield Group | 129,204 | 1,227,071 | ||||||
Westfield Retail Trust | 149,574 | 405,634 | ||||||
4,364,105 | ||||||||
Software & Services 0.0% | ||||||||
Computershare Ltd. | 37,248 | 311,493 | ||||||
Telecommunication Services 0.1% | ||||||||
Telstra Corp., Ltd. | 214,176 | 763,641 | ||||||
Transportation 0.2% | ||||||||
Asciano Group | 49,640 | 265,486 | ||||||
Sydney Airport | 23,650 | 66,948 | ||||||
Toll Holdings Ltd. | 14,550 | 89,136 | ||||||
Transurban Group | 129,786 | 785,273 | ||||||
1,206,843 | ||||||||
Utilities 0.1% | ||||||||
AGL Energy Ltd. | 36,666 | 552,640 | ||||||
54,312,456 | ||||||||
Austria 0.3% | ||||||||
Banks 0.1% | ||||||||
Erste Group Bank AG | 8,148 | 205,293 | ||||||
Raiffeisen Bank International Holding AG | 3,201 | 116,406 | ||||||
321,699 | ||||||||
Capital Goods 0.0% | ||||||||
Andritz AG | 2,037 | 202,786 | ||||||
Strabag SE | 3,201 | 96,773 | ||||||
299,559 | ||||||||
Energy 0.1% | ||||||||
OMV AG | 10,476 | 391,404 | ||||||
Insurance 0.0% | ||||||||
Vienna Insurance Group AG | 2,619 | 116,104 | ||||||
Materials 0.1% | ||||||||
Voestalpine AG | 10,767 | 383,192 | ||||||
Real Estate 0.0% | ||||||||
Immofinanz AG * | 53,600 | 188,358 | ||||||
Telecommunication Services 0.0% | ||||||||
Telekom Austria AG | 21,534 | 251,678 | ||||||
1,951,994 | ||||||||
Belgium 0.8% | ||||||||
Banks 0.0% | ||||||||
Dexia S.A. * | 66,348 | 24,585 | ||||||
KBC GROEP N.V. | 6,984 | 165,642 | ||||||
190,227 | ||||||||
Capital Goods 0.0% | ||||||||
NV Bekaert S.A. | 4,947 | 166,069 | ||||||
Diversified Financials 0.1% | ||||||||
Groupe Bruxelles Lambert S.A. | 5,238 | 395,047 | ||||||
Food & Staples Retailing 0.0% | ||||||||
Colruyt S.A. | 5,820 | 229,047 | ||||||
Delhaize Group | 1,455 | 80,297 | ||||||
309,344 | ||||||||
Food, Beverage & Tobacco 0.4% | ||||||||
Anheuser-Busch InBev N.V. | 45,396 | 3,061,815 | ||||||
Insurance 0.1% | ||||||||
Ageas | 164,706 | 351,201 | ||||||
Materials 0.1% | ||||||||
Solvay S.A. | 2,037 | 251,671 | ||||||
Umicore | 6,402 | 334,423 | ||||||
586,094 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||||||
UCB S.A. | 8,439 | 342,165 | ||||||
Telecommunication Services 0.1% | ||||||||
Belgacom S.A. | 11,349 | 362,763 | ||||||
Telenet Group Holding N.V. * | 4,365 | 172,720 | ||||||
535,483 | ||||||||
5,937,445 | ||||||||
Canada 8.9% | ||||||||
Automobiles & Components 0.1% | ||||||||
Magna International, Inc. | 10,000 | 478,501 | ||||||
Banks 2.2% | ||||||||
Bank of Montreal | 29,100 | 1,715,953 | ||||||
Bank of Nova Scotia | 58,200 | 3,152,414 | ||||||
Canadian Imperial Bank of Commerce | 29,100 | 2,265,779 | ||||||
Royal Bank of Canada | 87,300 | 4,935,138 | ||||||
The Toronto-Dominion Bank | 58,200 | 4,776,187 | ||||||
16,845,471 | ||||||||
Capital Goods 0.2% | ||||||||
Bombardier, Inc., B Shares | 116,400 | 561,348 | ||||||
Finning International, Inc. | 29,100 | 849,704 | ||||||
1,411,052 | ||||||||
Consumer Services 0.0% | ||||||||
Tim Hortons, Inc. | 4,000 | 217,107 | ||||||
Diversified Financials 0.0% | ||||||||
CI Financial Corp. | 5,000 | 111,681 | ||||||
IGM Financial, Inc. | 5,000 | 231,941 | ||||||
343,622 | ||||||||
Energy 2.4% | ||||||||
ARC Resources Ltd. | 6,000 | 155,642 | ||||||
Cameco Corp. | 5,000 | 123,357 | ||||||
Canadian Natural Resources Ltd. | 58,200 | 2,170,350 | ||||||
Canadian Oil Sands Ltd. | 18,000 | 431,839 | ||||||
Cenovus Energy, Inc. | 43,740 | 1,707,945 | ||||||
Crescent Point Energy Corp. | 10,000 | 475,659 | ||||||
Enbridge, Inc. | 58,200 | 2,254,848 | ||||||
EnCana Corp. | 58,200 | 1,191,240 | ||||||
Husky Energy, Inc. | 29,100 | 789,728 | ||||||
Imperial Oil Ltd. | 29,100 | 1,397,166 | ||||||
MEG Energy Corp. * | 5,100 | 225,343 | ||||||
Nexen, Inc. | 29,100 | 595,916 | ||||||
Pacific Rubiales Energy Corp. | 15,000 | 437,535 | ||||||
Penn West Petroleum Ltd. | 15,000 | 329,103 |
See financial notes 15
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Suncor Energy, Inc. | 87,300 | 3,157,141 | ||||||
Talisman Energy, Inc. | 58,200 | 803,614 | ||||||
TransCanada Corp. | 46,180 | 2,042,807 | ||||||
18,289,233 | ||||||||
Food & Staples Retailing 0.1% | ||||||||
Loblaw Cos. Ltd. | 2,000 | 70,501 | ||||||
Shoppers Drug Mart Corp. | 19,400 | 827,841 | ||||||
898,342 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Saputo, Inc. | 12,200 | 508,338 | ||||||
Insurance 0.6% | ||||||||
Great-West Lifeco, Inc. | 29,100 | 680,413 | ||||||
Manulife Financial Corp. | 116,400 | 1,463,051 | ||||||
Power Corp. of Canada | 29,100 | 738,616 | ||||||
Power Financial Corp. | 29,100 | 812,183 | ||||||
Sun Life Financial, Inc. | 29,100 | 642,596 | ||||||
4,336,859 | ||||||||
Materials 1.8% | ||||||||
Agnico-Eagle Mines Ltd. | 5,000 | 182,598 | ||||||
Agrium, Inc. | 2,500 | 213,666 | ||||||
Barrick Gold Corp. | 62,100 | 2,984,734 | ||||||
Eldorado Gold Corp. | 17,600 | 270,178 | ||||||
First Quantum Minerals Ltd. | 24,000 | 551,663 | ||||||
Goldcorp, Inc. | 54,600 | 2,659,183 | ||||||
IAMGOLD Corp. | 12,100 | 183,782 | ||||||
Ivanhoe Mines Ltd. * | 32,985 | 575,006 | ||||||
Kinross Gold Corp. | 58,200 | 647,028 | ||||||
Osisko Mining Corp. * | 29,100 | 370,490 | ||||||
Potash Corp. of Saskatchewan, Inc. | 51,060 | 2,386,204 | ||||||
Silver Wheaton Corp. | 23,200 | 892,244 | ||||||
Teck Resources Ltd., Class B | 38,200 | 1,536,610 | ||||||
Yamana Gold, Inc. | 29,100 | 507,577 | ||||||
13,960,963 | ||||||||
Media 0.2% | ||||||||
Shaw Communications, Inc., B Shares | 29,100 | 600,052 | ||||||
Thomson Reuters Corp. | 29,100 | 848,227 | ||||||
1,448,279 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Valeant Pharmaceuticals International, Inc. * | 12,700 | 676,551 | ||||||
Real Estate 0.2% | ||||||||
Brookfield Asset Management, Inc., Class A | 29,100 | 913,520 | ||||||
Brookfield Office Properties, Inc. | 58,200 | 1,015,745 | ||||||
1,929,265 | ||||||||
Retailing 0.0% | ||||||||
Canadian Tire Corp. Ltd., Class A | 3,660 | 233,472 | ||||||
Software & Services 0.1% | ||||||||
CGI Group, Inc., A Shares * | 29,100 | 625,756 | ||||||
Technology Hardware & Equipment 0.1% | ||||||||
Research In Motion Ltd. * | 33,100 | 471,489 | ||||||
Telecommunication Services 0.2% | ||||||||
BCE, Inc. | 29,100 | 1,197,740 | ||||||
Rogers Communications, Inc., B Shares | 10,900 | 419,754 | ||||||
1,617,494 | ||||||||
Transportation 0.4% | ||||||||
Canadian National Railway Co. | 29,100 | 2,252,484 | ||||||
Canadian Pacific Railway Ltd. | 7,110 | 535,190 | ||||||
2,787,674 | ||||||||
Utilities 0.1% | ||||||||
Canadian Utilities Ltd., Class A | 4,000 | 267,790 | ||||||
Fortis, Inc. | 6,000 | 198,833 | ||||||
TransAlta Corp. | 11,000 | 233,301 | ||||||
699,924 | ||||||||
67,779,392 | ||||||||
China 0.0% | ||||||||
Consumer Durables & Apparel 0.0% | ||||||||
Anta Sports Products Ltd. (a) | 3,000 | 3,334 | ||||||
Materials 0.0% | ||||||||
China Zhongwang Holdings Ltd. (a) | 116,400 | 51,028 | ||||||
Fosun International | 145,500 | 90,613 | ||||||
141,641 | ||||||||
Retailing 0.0% | ||||||||
Golden Eagle Retail Group Ltd. (a) | 20,000 | 49,409 | ||||||
Technology Hardware & Equipment 0.0% | ||||||||
Foxconn International Holdings Ltd. (a) | 97,000 | 68,163 | ||||||
262,547 | ||||||||
Denmark 1.1% | ||||||||
Banks 0.1% | ||||||||
Danske Bank A/S * | 63,574 | 1,149,600 | ||||||
Capital Goods 0.1% | ||||||||
FLSmidth & Co. A/S | 4,074 | 325,465 | ||||||
Rockwool International A/S, B Shares | 873 | 89,613 | ||||||
Vestas Wind Systems A/S * | 5,238 | 54,098 | ||||||
469,176 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Carlsberg A/S, B Shares | 7,857 | 621,039 | ||||||
Health Care Equipment & Services 0.1% | ||||||||
Coloplast A/S, B Shares | 1,746 | 288,395 | ||||||
William Demant Holding A/S * | 1,746 | 162,733 | ||||||
451,128 | ||||||||
Materials 0.1% | ||||||||
Novozymes A/S, B Shares | 13,095 | 391,124 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.5% | ||||||||
Novo Nordisk A/S, B Shares | 31,428 | 4,424,886 | ||||||
Transportation 0.1% | ||||||||
AP Moller - Maersk A/S, A Shares | 23 | 177,619 | ||||||
AP Moller - Maersk A/S, B Shares | 45 | 364,356 | ||||||
DSV A/S | 9,603 | 224,621 | ||||||
766,596 | ||||||||
8,273,549 | ||||||||
Finland 0.7% | ||||||||
Automobiles & Components 0.0% | ||||||||
Nokian Renkaat Oyj | 8,148 | 363,065 |
16 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Capital Goods 0.2% | ||||||||
Kone Oyj, B Shares | 13,968 | 833,164 | ||||||
Wartsila Oyj | 13,968 | 482,820 | ||||||
1,315,984 | ||||||||
Food & Staples Retailing 0.0% | ||||||||
Kesko Oyj, B Shares | 3,492 | 117,855 | ||||||
Insurance 0.1% | ||||||||
Sampo Oyj, A Shares | 34,047 | 963,269 | ||||||
Materials 0.1% | ||||||||
Stora Enso Oyj, R Shares | 44,814 | 337,805 | ||||||
UPM-Kymmene Oyj | 34,629 | 479,445 | ||||||
817,250 | ||||||||
Technology Hardware & Equipment 0.2% | ||||||||
Nokia Oyj | 212,721 | 1,121,154 | ||||||
Utilities 0.1% | ||||||||
Fortum Oyj | 28,518 | 711,470 | ||||||
5,410,047 | ||||||||
France 8.3% | ||||||||
Automobiles & Components 0.2% | ||||||||
Compagnie Generale des Etablissements Michelin, B Shares | 9,133 | 632,363 | ||||||
Faurecia | 1,746 | 49,036 | ||||||
Renault S.A. | 14,841 | 788,950 | ||||||
1,470,349 | ||||||||
Banks 0.6% | ||||||||
BNP Paribas | 61,401 | 3,009,056 | ||||||
Credit Agricole S.A. | 50,925 | 327,464 | ||||||
Societe Generale | 44,814 | 1,453,731 | ||||||
4,790,251 | ||||||||
Capital Goods 1.1% | ||||||||
Alstom S.A. | 16,878 | 730,163 | ||||||
Bouygues S.A. | 16,005 | 511,268 | ||||||
Compagnie de Saint-Gobain | 31,428 | 1,498,349 | ||||||
Legrand S.A. | 11,058 | 403,090 | ||||||
Safran S.A. | 11,931 | 401,476 | ||||||
Schneider Electric S.A. | 31,428 | 2,144,523 | ||||||
Thales S.A. | 4,365 | 158,209 | ||||||
Vallourec S.A. | 6,984 | 493,751 | ||||||
Vinci S.A. | 29,391 | 1,536,679 | ||||||
Wendel | 2,037 | 172,322 | ||||||
Zodiac Aerospace | 2,328 | 225,247 | ||||||
8,275,077 | ||||||||
Commercial & Professional Services 0.1% | ||||||||
Bureau Veritas S.A. | 4,365 | 362,080 | ||||||
Edenred | 17,460 | 467,826 | ||||||
Societe BIC S.A. | 2,619 | 264,404 | ||||||
1,094,310 | ||||||||
Consumer Durables & Apparel 0.7% | ||||||||
Christian Dior S.A. | 4,074 | 634,628 | ||||||
Hermes International | 2,619 | 981,137 | ||||||
LVMH Moet Hennessy Louis Vuitton S.A. | 22,407 | 3,785,695 | ||||||
5,401,460 | ||||||||
Consumer Services 0.2% | ||||||||
Accor S.A. | 17,460 | 616,605 | ||||||
Sodexo | 11,058 | 854,550 | ||||||
1,471,155 | ||||||||
Diversified Financials 0.0% | ||||||||
Eurazeo | 2,463 | 117,128 | ||||||
Energy 1.1% | ||||||||
Compagnie Generale De Geophysique-Veritas * | 9,312 | 288,870 | ||||||
Technip S.A. | 6,402 | 701,644 | ||||||
Total S.A. | 125,130 | 7,028,553 | ||||||
8,019,067 | ||||||||
Food & Staples Retailing 0.2% | ||||||||
Carrefour S.A. | 36,084 | 908,433 | ||||||
Casino Guichard Perrachon S.A. | 3,783 | 370,025 | ||||||
1,278,458 | ||||||||
Food, Beverage & Tobacco 0.5% | ||||||||
Danone S.A. | 35,793 | 2,431,361 | ||||||
Pernod Ricard S.A. | 13,695 | 1,422,715 | ||||||
3,854,076 | ||||||||
Health Care Equipment & Services 0.2% | ||||||||
bioMerieux | 1,164 | 97,567 | ||||||
Essilor International S.A. | 13,386 | 1,070,089 | ||||||
1,167,656 | ||||||||
Household & Personal Products 0.2% | ||||||||
L’Oreal S.A. | 15,714 | 1,799,575 | ||||||
Insurance 0.3% | ||||||||
AXA S.A. | 132,131 | 2,139,578 | ||||||
CNP Assurances | 10,476 | 151,629 | ||||||
SCOR SE | 10,185 | 270,650 | ||||||
2,561,857 | ||||||||
Materials 0.4% | ||||||||
Air Liquide S.A. | 16,328 | 2,130,246 | ||||||
Arkema S.A | 2,910 | 267,740 | ||||||
Lafarge S.A. | 13,095 | 611,525 | ||||||
3,009,511 | ||||||||
Media 0.4% | ||||||||
Eutelsat Communications | 7,275 | 272,392 | ||||||
JC Decaux S.A. * | 3,201 | 89,193 | ||||||
Lagardere S.C.A. | 7,566 | 227,521 | ||||||
Publicis Groupe | 7,857 | 431,606 | ||||||
Societe Television Francaise 1 | 9,312 | 111,736 | ||||||
Vivendi | 74,496 | 1,606,411 | ||||||
2,738,859 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||||||||
Sanofi | 75,951 | 5,639,795 | ||||||
Real Estate 0.2% | ||||||||
Gecina S.A. | 1,455 | 140,293 | ||||||
Klepierre | 5,238 | 167,044 | ||||||
Unibail-Rodamco SE | 5,529 | 1,072,440 | ||||||
1,379,777 | ||||||||
Retailing 0.1% | ||||||||
PPR | 5,820 | 993,418 | ||||||
Software & Services 0.1% | ||||||||
Atos Origin S.A. | 3,783 | 216,185 | ||||||
Cap Gemini S.A. | 8,439 | 373,322 |
See financial notes 17
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Dassault Systemes S.A. | 2,910 | 242,594 | ||||||
832,101 | ||||||||
Technology Hardware & Equipment 0.1% | ||||||||
Alcatel-Lucent * | 189,150 | 476,195 | ||||||
Gemalto N.V. | 4,656 | 267,102 | ||||||
743,297 | ||||||||
Telecommunication Services 0.2% | ||||||||
France Telecom S.A. | 109,707 | 1,681,079 | ||||||
Transportation 0.1% | ||||||||
Aeroports de Paris | 1,455 | 115,419 | ||||||
Air France-KLM * | 6,111 | 36,271 | ||||||
Bollore | 582 | 120,674 | ||||||
Groupe Eurotunnel S.A. - Reg’d | 24,735 | 215,469 | ||||||
487,833 | ||||||||
Utilities 0.5% | ||||||||
Electricite de France | 19,788 | 495,394 | ||||||
GDF Suez | 101,559 | 2,645,105 | ||||||
Suez Environnement S.A. | 23,862 | 350,803 | ||||||
Veolia Environnement | 30,555 | 375,422 | ||||||
3,866,724 | ||||||||
62,672,813 | ||||||||
Germany 6.6% | ||||||||
Automobiles & Components 0.8% | ||||||||
Bayerische Motoren Werke AG | 20,661 | 1,918,921 | ||||||
Continental AG * | 4,074 | 372,384 | ||||||
Daimler AG - Reg’d | 57,909 | 3,516,517 | ||||||
Volkswagen AG | 1,455 | 247,576 | ||||||
6,055,398 | ||||||||
Banks 0.1% | ||||||||
Commerzbank AG * | 225,537 | 569,008 | ||||||
Capital Goods 0.9% | ||||||||
GEA Group AG | 12,513 | 424,492 | ||||||
Hochtief AG | 3,783 | 265,222 | ||||||
MAN SE | 9,312 | 1,077,501 | ||||||
Siemens AG - Reg’d | 51,798 | 5,187,061 | ||||||
6,954,276 | ||||||||
Consumer Durables & Apparel 0.2% | ||||||||
Adidas AG | 13,968 | 1,102,041 | ||||||
Puma AG Rudolf Dassler Sport | 582 | 202,771 | ||||||
1,304,812 | ||||||||
Diversified Financials 0.5% | ||||||||
Deutsche Bank AG - Reg’d | 55,290 | 2,592,717 | ||||||
Deutsche Boerse AG | 13,095 | 871,830 | ||||||
3,464,547 | ||||||||
Food & Staples Retailing 0.1% | ||||||||
Metro AG | 12,804 | 509,041 | ||||||
Health Care Equipment & Services 0.2% | ||||||||
Fresenius Medical Care AG & Co. KGaA | 11,931 | 839,182 | ||||||
Fresenius SE | 7,275 | 755,185 | ||||||
1,594,367 | ||||||||
Household & Personal Products 0.1% | ||||||||
Beiersdorf AG | 4,656 | 292,794 | ||||||
Henkel AG & Co. KGaA | 4,947 | 271,090 | ||||||
563,884 | ||||||||
Insurance 0.7% | ||||||||
Allianz SE - Reg’d | 26,481 | 3,224,612 | ||||||
Hannover Rueckversicherung AG - Reg’d | 3,783 | 210,847 | ||||||
Muenchener Rueckversicherungs - Gesellschaft AG - Reg’d | 11,931 | 1,746,832 | ||||||
5,182,291 | ||||||||
Materials 1.0% | ||||||||
BASF SE | 49,470 | 4,360,998 | ||||||
HeidelbergCement AG | 12,222 | 660,678 | ||||||
K+S AG | 11,648 | 583,918 | ||||||
Lanxess AG | 4,656 | 349,409 | ||||||
Linde AG | 7,275 | 1,214,524 | ||||||
Salzgitter AG | 2,910 | 178,831 | ||||||
ThyssenKrupp AG | 23,280 | 630,774 | ||||||
7,979,132 | ||||||||
Media 0.0% | ||||||||
Kabel Deutschland Holding AG * | 4,365 | 263,166 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.5% | ||||||||
Bayer AG - Reg’d | 51,507 | 3,823,999 | ||||||
Merck KGaA | 3,783 | 392,747 | ||||||
4,216,746 | ||||||||
Semiconductors & Semiconductor Equipment 0.1% | ||||||||
Infineon Technologies AG * | 66,057 | 670,774 | ||||||
Software & Services 0.5% | ||||||||
SAP AG | 53,544 | 3,627,846 | ||||||
Telecommunication Services 0.3% | ||||||||
Deutsche Telekom AG - Reg’d | 186,822 | 2,189,227 | ||||||
Transportation 0.1% | ||||||||
Deutsche Lufthansa AG - Reg’d | 10,767 | 150,079 | ||||||
Deutsche Post AG - Reg’d | 51,216 | 903,326 | ||||||
1,053,405 | ||||||||
Utilities 0.5% | ||||||||
E.ON AG | 122,220 | 2,822,718 | ||||||
RWE AG | 26,020 | 1,190,397 | ||||||
4,013,115 | ||||||||
50,211,035 | ||||||||
Greece 0.1% | ||||||||
Banks 0.0% | ||||||||
Alpha Bank AE * | 15,540 | 27,648 | ||||||
National Bank of Greece S.A. ADR * | 35,000 | 108,150 | ||||||
135,798 | ||||||||
Energy 0.0% | ||||||||
Hellenic Petroleum S.A. | 5,000 | 36,787 | ||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Coca Cola Hellenic Bottling Co. S.A. ADR * | 9,312 | 175,624 | ||||||
Telecommunication Services 0.0% | ||||||||
Hellenic Telecommunications Organization S.A. | 20,661 | 65,779 | ||||||
413,988 |
18 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Hong Kong 4.0% | ||||||||
Automobiles & Components 0.0% | ||||||||
Geely Automobile Holdings Ltd. | 210,000 | 92,603 | ||||||
Xinyi Glass Holdings Co., Ltd. | 156,000 | 98,157 | ||||||
190,760 | ||||||||
Banks 0.3% | ||||||||
BOC Hong Kong Holdings Ltd. | 291,000 | 816,077 | ||||||
Dah Sing Banking Group Ltd. | 246,560 | 264,182 | ||||||
Hang Seng Bank Ltd. | 58,200 | 815,702 | ||||||
The Bank of East Asia Ltd. (a) | 174,600 | 706,892 | ||||||
2,602,853 | ||||||||
Capital Goods 0.5% | ||||||||
Hutchison Whampoa Ltd. | 228,000 | 2,272,445 | ||||||
Jardine Matheson Holdings Ltd. | 11,000 | 561,000 | ||||||
Jardine Strategic Holdings Ltd. | 5,000 | 152,800 | ||||||
Johnson Electric Holdings Ltd. | 305,000 | 181,686 | ||||||
Noble Group Ltd. | 341,181 | 388,529 | ||||||
3,556,460 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
Hutchison Harbour Ring Ltd. | 582,000 | 54,030 | ||||||
Techtronic Industries Co., Ltd. | 145,500 | 175,972 | ||||||
Yue Yuen Industrial Holdings Ltd. | 40,000 | 136,158 | ||||||
366,160 | ||||||||
Consumer Services 0.2% | ||||||||
China Travel International Investment Hong Kong Ltd. | 582,000 | 115,564 | ||||||
Galaxy Entertainment Group Ltd. * | 151,000 | 373,815 | ||||||
Sands China Ltd. | 116,400 | 438,243 | ||||||
The Hongkong & Shanghai Hotels Ltd. | 145,500 | 215,745 | ||||||
1,143,367 | ||||||||
Diversified Financials 0.2% | ||||||||
Hong Kong Exchanges & Clearing Ltd. | 87,300 | 1,625,401 | ||||||
Energy 0.0% | ||||||||
Mongolia Energy Co., Ltd. * | 291,000 | 30,392 | ||||||
Food, Beverage & Tobacco 0.1% | ||||||||
China Huiyuan Juice Group Ltd. (a) | 145,500 | 55,343 | ||||||
China Mengniu Dairy Co., Ltd. | 74,000 | 209,910 | ||||||
Want Want China Holdings Ltd. | 582,000 | 579,321 | ||||||
844,574 | ||||||||
Household & Personal Products 0.1% | ||||||||
Hengan International Group Co., Ltd. | 99,500 | 904,464 | ||||||
Insurance 0.3% | ||||||||
AIA Group Ltd. | 523,800 | 1,985,600 | ||||||
Materials 0.0% | ||||||||
Fushan International Energy Group Ltd. | 140,000 | 59,569 | ||||||
Nine Dragons Paper Holdings Ltd. | 62,000 | 56,039 | ||||||
115,608 | ||||||||
Real Estate 1.1% | ||||||||
Cheung Kong (Holdings) Ltd. | 90,000 | 1,313,615 | ||||||
Chinese Estates Holdings Ltd. | 145,500 | 234,505 | ||||||
Hang Lung Group Ltd. | 40,000 | 269,479 | ||||||
Hang Lung Properties Ltd. | 77,000 | 291,889 | ||||||
Henderson Land Development Co., Ltd. | 45,000 | 282,856 | ||||||
Hongkong Land Holdings Ltd. | 291,000 | 1,609,230 | ||||||
Hopewell Holdings Ltd. | 145,500 | 445,559 | ||||||
Hysan Development Co., Ltd. | 31,000 | 134,901 | ||||||
Kerry Properties Ltd. | 10,000 | 47,578 | ||||||
Kowloon Development Co., Ltd. | 25,000 | 27,270 | ||||||
New World Development Co., Ltd. | 416,000 | 576,072 | ||||||
Sino Land Co., Ltd. | 105,000 | 187,643 | ||||||
Sun Hung Kai Properties Ltd. | 115,000 | 1,773,405 | ||||||
Swire Pacific Ltd. | 42,000 | 476,824 | ||||||
Swire Properties Ltd. * | 21,000 | 51,663 | ||||||
The Link REIT | 145,500 | 544,989 | ||||||
The Wharf Holdings Ltd. | 53,000 | 332,117 | ||||||
Wheelock & Co., Ltd. | 10,000 | 34,426 | ||||||
8,634,021 | ||||||||
Retailing 0.3% | ||||||||
Belle International Holdings Ltd. | 291,000 | 478,015 | ||||||
Chow Tai Fook Jewellery Group Ltd. (a) | 30,000 | 51,059 | ||||||
GOME Electrical Appliances Holdings Ltd. (a) | 1,164,000 | 355,697 | ||||||
Li & Fung Ltd. | 220,000 | 507,188 | ||||||
Lifestyle International Holdings Ltd. | 145,500 | 401,473 | ||||||
Parkson Retail Group Ltd. | 291,000 | 345,191 | ||||||
2,138,623 | ||||||||
Semiconductors & Semiconductor Equipment 0.1% | ||||||||
ASM Pacific Technology Ltd. | 29,100 | 410,102 | ||||||
GCL Poly Energy Holdings Ltd. (a) | 384,000 | 131,702 | ||||||
541,804 | ||||||||
Software & Services 0.2% | ||||||||
Alibaba.com Ltd. * | 65,000 | 110,796 | ||||||
Tencent Holdings Ltd. | 50,100 | 1,307,457 | ||||||
1,418,253 | ||||||||
Technology Hardware & Equipment 0.0% | ||||||||
AAC Acoustic Technologies Holdings, Inc. | 50,000 | 128,422 | ||||||
VTech Holdings Ltd. (a) | 10,000 | 112,691 | ||||||
241,113 | ||||||||
Telecommunication Services 0.0% | ||||||||
HKT Trust / HKT Ltd. * | 5,760 | 4,174 | ||||||
PCCW Ltd. | 291,000 | 107,309 | ||||||
111,483 | ||||||||
Transportation 0.2% | ||||||||
Cathay Pacific Airways Ltd. | 62,000 | 123,269 | ||||||
Hopewell Highway Infrastructure Ltd. (a) | 1,746,000 | 1,026,569 | ||||||
1,149,838 | ||||||||
Utilities 0.3% | ||||||||
Cheung Kong Infrastructure Holdings Ltd. | 22,000 | 129,208 | ||||||
CLP Holdings Ltd. | 98,000 | 868,084 | ||||||
ENN Energy Holdings Ltd. | 40,000 | 136,158 | ||||||
Hong Kong & China Gas Co., Ltd. | 339,200 | 867,714 | ||||||
Power Assets Holdings Ltd. | 80,000 | 597,238 | ||||||
2,598,402 | ||||||||
30,199,176 |
See financial notes 19
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Ireland 0.5% | ||||||||
Commercial & Professional Services 0.1% | ||||||||
Experian plc | 57,327 | 865,860 | ||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Kerry Group plc, A Shares | 6,693 | 286,503 | ||||||
Materials 0.1% | ||||||||
CRH plc | 42,486 | 914,877 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
Elan Corp. plc * | 44,232 | 554,415 | ||||||
Shire plc | 30,555 | 1,072,845 | ||||||
1,627,260 | ||||||||
Transportation 0.0% | ||||||||
Ryanair Holdings plc * | 11,021 | 60,593 | ||||||
3,755,093 | ||||||||
Israel 0.6% | ||||||||
Banks 0.1% | ||||||||
Bank Hapoalim B.M. | 66,348 | 215,230 | ||||||
Bank Leumi Le-Israel | 56,745 | 164,694 | ||||||
First International Bank of Israel Ltd. * | 7,857 | 75,194 | ||||||
Israel Discount Bank, A Shares * | 53,259 | 67,020 | ||||||
522,138 | ||||||||
Capital Goods 0.0% | ||||||||
Delek Group Ltd. | 291 | 52,671 | ||||||
Elbit Systems Ltd. | 873 | 32,065 | ||||||
IDB Holding Corp., Ltd. * | 873 | 7,028 | ||||||
Ormat Industries Ltd. | 15,423 | 67,757 | ||||||
159,521 | ||||||||
Energy 0.1% | ||||||||
Avner Oil Exploration LP * | 75,660 | 49,689 | ||||||
Delek Drilling - LP * | 13,968 | 50,120 | ||||||
Isramco Negev 2 LP * | 523,800 | 70,048 | ||||||
Oil Refineries Ltd. * | 46,560 | 25,436 | ||||||
Ratio Oil Exploration 1992 LP * | 291,000 | 26,509 | ||||||
221,802 | ||||||||
Food, Beverage & Tobacco 0.0% | ||||||||
Osem Investments Ltd. | 1,455 | 21,038 | ||||||
Strauss Group Ltd. * | 1,164 | 12,730 | ||||||
33,768 | ||||||||
Insurance 0.0% | ||||||||
Harel Insurance Investments & Financial Services Ltd. | 582 | 18,525 | ||||||
Materials 0.1% | ||||||||
Israel Chemicals Ltd. | 27,354 | 290,472 | ||||||
The Israel Corp., Ltd. | 291 | 174,928 | ||||||
465,400 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||||||||
Teva Pharmaceutical Industries Ltd. | 55,149 | 2,473,946 | ||||||
Real Estate 0.0% | ||||||||
Azrieli Group | 2,328 | 54,165 | ||||||
Gazit-Globe Ltd. | 4,365 | 43,092 | ||||||
97,257 | ||||||||
Software & Services 0.0% | ||||||||
NICE Systems Ltd. * | 2,910 | 99,254 | ||||||
Telecommunication Services 0.0% | ||||||||
Bezeq Israeli Telecommunication Corp., Ltd. | 107,670 | 178,203 | ||||||
Cellcom Israel Ltd. | 2,328 | 31,613 | ||||||
209,816 | ||||||||
4,301,427 | ||||||||
Italy 2.1% | ||||||||
Automobiles & Components 0.1% | ||||||||
Fiat S.p.A. | 31,137 | 180,853 | ||||||
Pirelli & C S.p.A. | 27,987 | 292,766 | ||||||
473,619 | ||||||||
Banks 0.4% | ||||||||
Banca Carige S.p.A. | 62,274 | 95,966 | ||||||
Banca Monte dei Paschi di Siena S.p.A. | 291,000 | 156,097 | ||||||
Banco Popolare Societa Cooperatira | 87,300 | 161,158 | ||||||
Intesa Sanpaolo | 600,042 | 1,172,710 | ||||||
UniCredit S.p.A. | 221,742 | 1,158,614 | ||||||
Unione di Banche Italiane S.c.p.A. | 41,031 | 190,898 | ||||||
2,935,443 | ||||||||
Capital Goods 0.1% | ||||||||
Fiat Industrial S.p.A. * | 51,507 | 551,207 | ||||||
Consumer Durables & Apparel 0.1% | ||||||||
Luxottica Group S.p.A. | 11,349 | 411,572 | ||||||
Consumer Services 0.0% | ||||||||
Autogrill S.p.A. | 13,386 | 136,447 | ||||||
Diversified Financials 0.0% | ||||||||
EXOR S.p.A. | 5,529 | 139,565 | ||||||
Mediobanca S.p.A. | 34,047 | 222,714 | ||||||
362,279 | ||||||||
Energy 0.6% | ||||||||
Eni S.p.A. | 165,579 | 3,834,078 | ||||||
Saipem S.p.A. | 20,370 | 1,034,642 | ||||||
4,868,720 | ||||||||
Food, Beverage & Tobacco 0.0% | ||||||||
Parmalat S.p.A. | 68,385 | 155,056 | ||||||
Insurance 0.2% | ||||||||
Assicurazioni Generali S.p.A. | 96,321 | 1,557,779 | ||||||
Media 0.0% | ||||||||
Mediaset S.p.A. | 48,306 | 143,712 | ||||||
Telecommunication Services 0.1% | ||||||||
Telecom Italia S.p.A. | 730,410 | 845,165 | ||||||
Telecom Italia S.p.A. - RSP | 262,191 | 249,195 | ||||||
1,094,360 | ||||||||
Transportation 0.1% | ||||||||
Atlantia S.p.A. | 28,141 | 473,188 | ||||||
Utilities 0.4% | ||||||||
A2A S.p.A. | 113,199 | 114,403 | ||||||
Enel S.p.A. | 444,648 | 1,791,554 | ||||||
Snam Rete Gas S.p.A. | 99,231 | 482,382 | ||||||
Terna-Rete Elettrica Nazionale S.p.A. | 91,083 | 344,568 | ||||||
2,732,907 | ||||||||
15,896,289 |
20 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Japan 17.0% | ||||||||
Automobiles & Components 2.1% | ||||||||
Bridgestone Corp. | 29,100 | 703,232 | ||||||
Denso Corp. | 29,100 | 966,045 | ||||||
Honda Motor Co., Ltd. | 87,300 | 3,338,195 | ||||||
Isuzu Motors Ltd. | 6,000 | 33,951 | ||||||
Mitsubishi Motors Corp. * | 582,000 | 697,480 | ||||||
NHK Spring Co., Ltd. | 5,000 | 51,767 | ||||||
Nissan Motor Co., Ltd. | 145,500 | 1,495,626 | ||||||
Nok Corp. | 29,100 | 583,869 | ||||||
Sumitomo Rubber Industries Ltd. | 29,100 | 367,795 | ||||||
Suzuki Motor Corp. | 29,100 | 692,806 | ||||||
Toyota Motor Corp. | 148,830 | 6,169,071 | ||||||
Yamaha Motor Co., Ltd. | 29,100 | 419,207 | ||||||
15,519,044 | ||||||||
Banks 1.8% | ||||||||
77 Bank Ltd. | 28,000 | 123,499 | ||||||
Aozora Bank Ltd. | 291,000 | 844,885 | ||||||
Bank of Yokohama Ltd. | 30,000 | 145,293 | ||||||
Fukuoka Financial Group, Inc. | 27,000 | 118,087 | ||||||
Hokuhoku Financial Group, Inc. | 291,000 | 564,455 | ||||||
Mitsubishi UFJ Financial Group, Inc. | 814,800 | 4,228,021 | ||||||
Mizuho Financial Group, Inc. | 1,319,200 | 2,216,595 | ||||||
Resona Holdings, Inc. | 145,500 | 699,277 | ||||||
Sapporo Hokuyo Holdings, Inc. | 58,200 | 201,334 | ||||||
Senshu Ikeda Holdings, Inc. | 232,800 | 342,268 | ||||||
Shinsei Bank Ltd. | 301,000 | 390,474 | ||||||
Shizuoka Bank Ltd. | 20,000 | 204,102 | ||||||
Sumitomo Mitsui Financial Group, Inc. | 87,300 | 2,973,636 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 150,000 | 522,609 | ||||||
The Chiba Bank Ltd. | 20,000 | 127,008 | ||||||
The Hokkoku Bank Ltd. | 2,000 | 7,586 | ||||||
The Juroku Bank Ltd. | 20,000 | 69,434 | ||||||
The Nanto Bank Ltd. | 4,000 | 19,570 | ||||||
The San-In Godo Bank Ltd. | 2,000 | 15,345 | ||||||
The Shiga Bank Ltd. | 8,000 | 49,815 | ||||||
Yamaguchi Financial Group, Inc. | 9,000 | 82,506 | ||||||
13,945,799 | ||||||||
Capital Goods 2.3% | ||||||||
COMSYS Holdings Corp. | 29,100 | 317,102 | ||||||
Daikin Industries Ltd. | 29,100 | 866,457 | ||||||
Fanuc Ltd. | 12,090 | 2,200,219 | ||||||
Hitachi Cable Ltd. * | 7,000 | 16,778 | ||||||
IHI Corp. | 291,000 | 740,623 | ||||||
ITOCHU Corp. | 58,200 | 665,122 | ||||||
JS Group Corp. | 29,100 | 611,193 | ||||||
JTEKT Corp. | 29,100 | 330,044 | ||||||
Kandenko Co., Ltd. | 2,000 | 10,526 | ||||||
Kawasaki Heavy Industries Ltd. | 291,000 | 916,790 | ||||||
Komatsu Ltd. | 58,200 | 1,741,542 | ||||||
Mitsubishi Corp. | 87,300 | 2,147,446 | ||||||
Mitsubishi Electric Corp. | 4,000 | 36,027 | ||||||
Mitsubishi Heavy Industries Ltd. | 291,000 | 1,369,792 | ||||||
Mitsui & Co., Ltd. | 87,300 | 1,508,929 | ||||||
Nippon Sheet Glass Co., Ltd. | 45,000 | 75,612 | ||||||
Sojitz Corp. | 145,500 | 271,442 | ||||||
Sumitomo Corp. | 87,300 | 1,299,685 | ||||||
Sumitomo Electric Industries Ltd. | 58,200 | 760,037 | ||||||
The Japan Steel Works Ltd. | 1,000 | 7,438 | ||||||
THK Co., Ltd. | 29,100 | 618,743 | ||||||
Toyota Tsusho Corp. | 29,100 | 586,386 | ||||||
Ushio, Inc. | 29,100 | 433,228 | ||||||
17,531,161 | ||||||||
Commercial & Professional Services 0.2% | ||||||||
Secom Co., Ltd. | 29,100 | 1,385,971 | ||||||
Consumer Durables & Apparel 0.9% | ||||||||
Haseko Corp. * | 155,500 | 115,271 | ||||||
Makita Corp. | 29,100 | 1,215,196 | ||||||
NAMCO BANDAI Holdings, Inc. | 29,100 | 408,062 | ||||||
Nikon Corp. | 29,100 | 791,316 | ||||||
Panasonic Corp. | 174,600 | 1,637,279 | ||||||
Sega Sammy Holdings, Inc. | 29,100 | 554,029 | ||||||
Sony Corp. | 58,200 | 1,248,992 | ||||||
Sumitomo Forestry Co., Ltd. | 29,100 | 265,689 | ||||||
TSI Holdings Co., Ltd. | 32,100 | 195,122 | ||||||
6,430,956 | ||||||||
Consumer Services 0.0% | ||||||||
Benesse Holdings, Inc. | 2,000 | 92,167 | ||||||
Oriental Land Co., Ltd. | 1,000 | 104,028 | ||||||
196,195 | ||||||||
Diversified Financials 0.4% | ||||||||
Acom Co., Ltd. * | 400 | 8,421 | ||||||
Credit Saison Co., Ltd. | 29,100 | 583,150 | ||||||
Daiwa Securities Group, Inc. | 130,000 | 541,265 | ||||||
Mitsubishi UFJ Lease & Finance Co., Ltd. | 5,820 | 249,511 | ||||||
Nomura Holdings, Inc. | 261,900 | 1,213,399 | ||||||
ORIX Corp. | 5,820 | 563,017 | ||||||
3,158,763 | ||||||||
Energy 0.3% | ||||||||
Cosmo Oil Co., Ltd. | 30,000 | 87,843 | ||||||
Inpex Corp. | 155 | 1,104,954 | ||||||
JX Holdings, Inc. | 119,800 | 754,855 | ||||||
Showa Shell Sekiyu K.K. | 29,100 | 197,020 | ||||||
TonenGeneral Sekiyu KK | 15,000 | 139,363 | ||||||
2,284,035 | ||||||||
Food & Staples Retailing 0.3% | ||||||||
Aeon Co., Ltd. | 58,200 | 742,061 | ||||||
Seven & i Holdings Co., Ltd. | 58,200 | 1,614,989 | ||||||
2,357,050 | ||||||||
Food, Beverage & Tobacco 0.6% | ||||||||
Ajinomoto Co., Inc. | 27,000 | 319,570 | ||||||
Asahi Breweries Ltd. | 29,100 | 639,236 | ||||||
Japan Tobacco, Inc. | 291 | 1,553,150 | ||||||
Kagome Co., Ltd. | 29,100 | 572,365 | ||||||
Kewpie Corp. | 29,100 | 402,669 | ||||||
Kirin Holdings Co., Ltd. | 35,000 | 413,393 | ||||||
Sapporo Holdings Ltd. | 10,000 | 37,188 | ||||||
Toyo Suisan Kaisha Ltd. | 2,000 | 51,569 | ||||||
Yakult Honsha Co., Ltd. | 9,000 | 279,318 | ||||||
4,268,458 | ||||||||
Health Care Equipment & Services 0.1% | ||||||||
Medipal Holdings Corp. | 8,900 | 107,429 | ||||||
Miraca Holdings, Inc. | 2,100 | 80,560 | ||||||
Nipro Corp. (a) | 4,000 | 30,689 | ||||||
Olympus Corp. | 29,100 | 488,595 | ||||||
Suzuken Co., Ltd. | 2,100 | 62,139 |
See financial notes 21
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Terumo Corp. | 6,100 | 295,052 | ||||||
1,064,464 | ||||||||
Household & Personal Products 0.2% | ||||||||
Kao Corp. | 29,100 | 747,454 | ||||||
Lion Corp. | 11,000 | 62,787 | ||||||
Shiseido Co., Ltd. | 14,200 | 247,544 | ||||||
Unicharm Corp. | 4,100 | 213,003 | ||||||
1,270,788 | ||||||||
Insurance 0.5% | ||||||||
Sony Financial Holdings, Inc. | 58,200 | 1,069,229 | ||||||
T&D Holdings, Inc. | 58,200 | 682,380 | ||||||
The Dai-ichi Life Insurance Co., Ltd. | 432 | 570,022 | ||||||
Tokio Marine Holdings, Inc. | 58,200 | 1,614,270 | ||||||
3,935,901 | ||||||||
Materials 1.3% | ||||||||
Asahi Kasei Corp. | 60,000 | 381,764 | ||||||
Hitachi Chemical Co., Ltd. | 29,100 | 539,648 | ||||||
JFE Holdings, Inc. | 32,200 | 696,593 | ||||||
JSR Corp. | 29,100 | 613,710 | ||||||
Kobe Steel Ltd. | 291,000 | 506,931 | ||||||
Kuraray Co. Ltd. | 29,100 | 421,364 | ||||||
Mitsubishi Chemical Holdings Corp. | 145,500 | 841,290 | ||||||
Nippon Paper Group, Inc. (a) | 4,500 | 96,905 | ||||||
Nippon Steel Corp. | 291,000 | 841,290 | ||||||
Nissan Chemical Industries Ltd. | 11,200 | 112,083 | ||||||
Nisshin Steel Co., Ltd. | 4,000 | 6,919 | ||||||
Nitto Denko Corp. | 24,600 | 1,015,122 | ||||||
Shin-Etsu Chemical Co., Ltd. | 29,100 | 1,565,734 | ||||||
Showa Denko K.K. | 291,000 | 661,527 | ||||||
Sumitomo Chemical Co., Ltd. | 20,000 | 86,978 | ||||||
Sumitomo Metal Industries Ltd. | 291,000 | 607,598 | ||||||
Sumitomo Metal Mining Co., Ltd. | 22,000 | 327,527 | ||||||
Tokyo Steel Manufacturing Co., Ltd. | 29,100 | 245,196 | ||||||
Toray Industries, Inc. | 50,000 | 357,055 | ||||||
9,925,234 | ||||||||
Media 0.2% | ||||||||
Dentsu, Inc. | 29,100 | 907,802 | ||||||
Hakuhodo DY Holdings, Inc. | 5,820 | 356,290 | ||||||
SKY Perfect JSAT Holdings, Inc. | 131 | 61,421 | ||||||
1,325,513 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||||||||
Astellas Pharma, Inc. | 29,100 | 1,200,815 | ||||||
Chugai Pharmaceutical Co., Ltd. | 29,100 | 478,169 | ||||||
Daiichi Sankyo Co., Ltd. | 29,100 | 536,772 | ||||||
Dainippon Sumitomo Pharma Co., Ltd. | 29,100 | 303,080 | ||||||
Eisai Co., Ltd. | 29,100 | 1,182,839 | ||||||
Kissei Pharmaceutical Co., Ltd. | 1,700 | 33,248 | ||||||
Otsuka Holdings Co., Ltd. | 29,100 | 820,797 | ||||||
Shionogi & Co., Ltd. | 29,100 | 404,466 | ||||||
Takeda Pharmaceutical Co., Ltd. | 29,100 | 1,319,459 | ||||||
6,279,645 | ||||||||
Real Estate 0.5% | ||||||||
Daito Trust Construction Co., Ltd. | 3,800 | 336,150 | ||||||
Daiwa House Industry Co., Ltd. | 22,000 | 285,125 | ||||||
Mitsubishi Estate Co., Ltd. | 54,000 | 980,726 | ||||||
Mitsui Fudosan Co., Ltd. | 45,000 | 857,302 | ||||||
NTT Urban Development Corp. | 291 | 234,411 | ||||||
Sumitomo Real Estate Sales Co., Ltd. | 2,910 | 129,070 | ||||||
Sumitomo Realty & Development Co., Ltd. | 30,000 | 702,743 | ||||||
Tokyo Tatemono Co., Ltd. * | 1,000 | 4,089 | ||||||
3,529,616 | ||||||||
Retailing 0.4% | ||||||||
Aoyama Trading Co., Ltd. | 4,100 | 76,691 | ||||||
DeNA Co., Ltd. | 1,900 | 62,089 | ||||||
Fast Retailing Co., Ltd. | 2,000 | 415,864 | ||||||
Isetan Mitsukoshi Holdings Ltd. | 58,200 | 657,932 | ||||||
J Front Retailing Co., Ltd. | 34,000 | 172,226 | ||||||
Komeri Co., Ltd. | 1,000 | 28,997 | ||||||
Marui Group Co., Ltd. | 29,100 | 238,006 | ||||||
Point, Inc. | 2,910 | 109,835 | ||||||
USS Co., Ltd. | 2,910 | 286,182 | ||||||
Yamada Denki Co., Ltd. | 11,640 | 757,880 | ||||||
2,805,702 | ||||||||
Semiconductors & Semiconductor Equipment 0.1% | ||||||||
Tokyo Electron Ltd. | 19,400 | 1,080,974 | ||||||
Software & Services 0.4% | ||||||||
KONAMI Corp. | 29,100 | 803,180 | ||||||
Nintendo Co., Ltd. | 4,000 | 593,032 | ||||||
Nomura Research Institute Ltd. | 29,100 | 694,963 | ||||||
NTT Data Corp. | 100 | 338,399 | ||||||
Square Enix Holdings Co., Ltd. | 3,900 | 76,420 | ||||||
Trend Micro, Inc. | 2,800 | 82,125 | ||||||
Yahoo! Japan Corp. | 873 | 277,194 | ||||||
2,865,313 | ||||||||
Technology Hardware & Equipment 1.6% | ||||||||
Alps Electric Co., Ltd. | 29,100 | 261,375 | ||||||
Brother Industries Ltd. | 29,100 | 377,861 | ||||||
Canon, Inc. | 87,300 | 3,969,162 | ||||||
FUJIFILM Holdings Corp. | 29,100 | 739,544 | ||||||
Fujitsu Ltd. | 31,000 | 168,903 | ||||||
Hamamatsu Photonics KK | 2,100 | 75,137 | ||||||
Hitachi Ltd. | 291,000 | 1,700,556 | ||||||
Hoya Corp. | 29,100 | 680,222 | ||||||
Keyence Corp. | 1,000 | 263,405 | ||||||
Konica Minolta Holdings, Inc. | 10,000 | 84,754 | ||||||
Kyocera Corp. | 10,500 | 932,728 | ||||||
Murata Manufacturing Co., Ltd. | 29,100 | 1,741,902 | ||||||
NEC Corp. * | 82,000 | 161,082 | ||||||
Nippon Electric Glass Co., Ltd. | 10,000 | 93,897 | ||||||
OMRON Corp. | 29,100 | 647,146 | ||||||
Ricoh Co., Ltd. | 15,000 | 138,436 | ||||||
Seiko Epson Corp. | 5,200 | 70,670 | ||||||
Toshiba Corp. | 55,000 | 241,908 | ||||||
12,348,688 | ||||||||
Telecommunication Services 0.7% | ||||||||
KDDI Corp. | 174 | 1,109,266 | ||||||
Nippon Telegraph & Telephone Corp. | 29,100 | 1,378,781 | ||||||
NTT DoCoMo, Inc. | 923 | 1,582,807 | ||||||
SOFTBANK Corp. | 42,100 | 1,259,255 | ||||||
5,330,109 | ||||||||
Transportation 0.8% | ||||||||
All Nippon Airways Co., Ltd. (a) | 291,000 | 895,219 | ||||||
Central Japan Railway Co. | 152 | 1,252,582 | ||||||
East Japan Railway Co. | 29,100 | 1,873,128 | ||||||
Tobu Railway Co., Ltd. | 10,000 | 52,261 | ||||||
Tokyu Corp. | 192,000 | 927,502 |
22 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
West Japan Railway Co. | 29,100 | 1,191,827 | ||||||
6,192,519 | ||||||||
Utilities 0.5% | ||||||||
Chubu Electric Power Co., Inc. | 33,100 | 609,737 | ||||||
Electric Power Development Co., Ltd. | 11,000 | 282,271 | ||||||
Hokkaido Electric Power Co., Inc. | 3,000 | 44,514 | ||||||
Kyushu Electric Power Co., Inc. | 29,100 | 429,633 | ||||||
Osaka Gas Co., Ltd. | 92,000 | 354,633 | ||||||
Shikoku Electric Power Co., Inc. | 8,500 | 235,026 | ||||||
The Chugoku Electric Power Co., Inc. | 29,100 | 529,941 | ||||||
The Kansai Electric Power Co., Inc. | 29,100 | 483,921 | ||||||
The Tokyo Electric Power Co., Inc. * | 87,300 | 242,680 | ||||||
Toho Gas Co., Ltd. | 20,000 | 117,124 | ||||||
Tohoku Electric Power Co., Inc. | 16,000 | 188,980 | ||||||
Tokyo Gas Co., Ltd. | 100,000 | 458,364 | ||||||
3,976,824 | ||||||||
129,008,722 | ||||||||
Luxembourg 0.3% | ||||||||
Energy 0.1% | ||||||||
Tenaris S.A. | 24,444 | 477,401 | ||||||
Materials 0.1% | ||||||||
ArcelorMittal | 68,385 | 1,447,649 | ||||||
Media 0.1% | ||||||||
SES | 19,497 | 472,199 | ||||||
Retailing 0.0% | ||||||||
L’Occitane International S.A. | 15,500 | 36,853 | ||||||
2,434,102 | ||||||||
Macau 0.0% | ||||||||
Consumer Services 0.0% | ||||||||
Wynn Macau Ltd. | 80,000 | 210,942 | ||||||
Netherlands 3.8% | ||||||||
Capital Goods 0.2% | ||||||||
Koninklijke (Royal) Philips Electronics N.V. | 63,438 | 1,336,985 | ||||||
Commercial & Professional Services 0.1% | ||||||||
Randstad Holding N.V. | 11,349 | 431,156 | ||||||
Diversified Financials 0.3% | ||||||||
ING Groep N.V. CVA * | 245,107 | 2,183,022 | ||||||
Energy 1.8% | ||||||||
Fugro N.V. CVA | 4,947 | 364,762 | ||||||
Royal Dutch Shell plc, A Shares | 210,393 | 7,684,747 | ||||||
Royal Dutch Shell plc, B Shares | 151,320 | 5,631,007 | ||||||
SBM Offshore N.V. | 9,603 | 174,962 | ||||||
13,855,478 | ||||||||
Food & Staples Retailing 0.1% | ||||||||
Koninklijke Ahold N.V. | 69,840 | 969,751 | ||||||
Food, Beverage & Tobacco 0.5% | ||||||||
Heineken Holding N.V. | 4,365 | 195,608 | ||||||
Heineken N.V. | 16,005 | 848,474 | ||||||
Unilever N.V. CVA | 89,337 | 2,979,286 | ||||||
4,023,368 | ||||||||
Insurance 0.1% | ||||||||
AEGON N.V. * | 117,273 | 616,523 | ||||||
Materials 0.2% | ||||||||
Akzo Nobel N.V. | 13,386 | 762,367 | ||||||
Koninklijke DSM N.V. | 10,767 | 601,326 | ||||||
1,363,693 | ||||||||
Media 0.1% | ||||||||
Reed Elsevier N.V. | 40,449 | 501,208 | ||||||
Wolters Kluwer N.V. | 17,460 | 326,403 | ||||||
827,611 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||||||
QIAGEN N.V. * | 13,677 | 210,492 | ||||||
Real Estate 0.0% | ||||||||
Corio N.V. | 4,656 | 224,656 | ||||||
Semiconductors & Semiconductor Equipment 0.2% | ||||||||
ASML Holding N.V. | 23,280 | 1,074,387 | ||||||
STMicroelectronics N.V. | 19,206 | 143,900 | ||||||
1,218,287 | ||||||||
Telecommunication Services 0.1% | ||||||||
Koninklijke (Royal) KPN N.V. | 92,538 | 1,007,016 | ||||||
Transportation 0.1% | ||||||||
Koninklijke Vopak N.V. | 1,455 | 81,552 | ||||||
TNT Express N.V. | 20,370 | 254,805 | ||||||
TNT N.V. | 8,730 | 51,909 | ||||||
388,266 | ||||||||
28,656,304 | ||||||||
New Zealand 0.1% | ||||||||
Consumer Services 0.0% | ||||||||
Sky City Entertainment Group Ltd. | 103,014 | 326,599 | ||||||
Real Estate 0.0% | ||||||||
Kiwi Income Property Trust | 148,410 | 127,017 | ||||||
Telecommunication Services 0.0% | ||||||||
Chorus Ltd. * | 23,141 | 63,611 | ||||||
Telecom Corp. of New Zealand Ltd. | 115,818 | 208,987 | ||||||
272,598 | ||||||||
Transportation 0.1% | ||||||||
Auckland International Airport Ltd. | 168,780 | 342,268 | ||||||
1,068,482 | ||||||||
Norway 0.9% | ||||||||
Banks 0.1% | ||||||||
DnB NOR A.S.A. | 61,158 | 789,544 | ||||||
Capital Goods 0.1% | ||||||||
Orkla A.S.A. | 58,200 | 486,732 | ||||||
Energy 0.5% | ||||||||
Aker Solutions A.S.A. | 6,111 | 106,601 | ||||||
Kvaerner A.S.A. * | 15,132 | 43,018 | ||||||
Seadrill Ltd. | 20,370 | 849,216 | ||||||
Statoil A.S.A. | 81,480 | 2,345,698 | ||||||
3,344,533 | ||||||||
Insurance 0.0% | ||||||||
Storebrand A.S.A. | 22,365 | 107,806 |
See financial notes 23
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Materials 0.1% | ||||||||
Norsk Hydro A.S.A. | 58,289 | 352,393 | ||||||
Yara International A.S.A. | 14,550 | 717,584 | ||||||
1,069,977 | ||||||||
Telecommunication Services 0.1% | ||||||||
Telenor A.S.A. | 52,089 | 968,160 | ||||||
6,766,752 | ||||||||
Papua N.Guinea 0.1% | ||||||||
Energy 0.1% | ||||||||
Oil Search Ltd. | 90,501 | 680,562 | ||||||
Portugal 0.2% | ||||||||
Banks 0.0% | ||||||||
Banco Comercial Portugues S.A. - Reg’d * | 304,968 | 69,352 | ||||||
Energy 0.0% | ||||||||
Galp Energia, SGPS, S.A., B Shares | 19,788 | 346,498 | ||||||
Food & Staples Retailing 0.1% | ||||||||
Jeronimo Martins, SGPS, S.A. * | 19,788 | 366,880 | ||||||
Telecommunication Services 0.0% | ||||||||
Portugal Telecom, SGPS, S.A. - Reg’d | 33,174 | 172,227 | ||||||
Utilities 0.1% | ||||||||
EDP - Energias de Portugal S.A. | 205,737 | 602,719 | ||||||
1,557,676 | ||||||||
Republic of Korea 5.0% | ||||||||
Automobiles & Components 0.5% | ||||||||
Halla Climate Control Corp. | 250 | 5,207 | ||||||
Hankook Tire Co., Ltd. | 5,820 | 222,921 | ||||||
Hyundai Mobis | 3,904 | 994,561 | ||||||
Hyundai Motor Co. | 9,312 | 1,797,932 | ||||||
Kia Motors Corp. | 18,788 | 1,187,344 | ||||||
4,207,965 | ||||||||
Banks 0.5% | ||||||||
BS Financial Group, Inc. | 4,800 | 59,854 | ||||||
DGB Financial Group, Inc. | 1,200 | 16,143 | ||||||
Hana Financial Group, Inc. | 5,250 | 185,133 | ||||||
Industrial Bank of Korea | 3,300 | 38,347 | ||||||
KB Financial Group, Inc. ADR * | 39,285 | 1,447,652 | ||||||
Shinhan Financial Group Co., Ltd. ADR * | 22,989 | 1,785,326 | ||||||
Woori Finance Holdings Co., Ltd. | 7,200 | 78,840 | ||||||
3,611,295 | ||||||||
Capital Goods 0.7% | ||||||||
CJ Corp. | 1,000 | 74,192 | ||||||
Daelim Industrial Co., Ltd. | 1,800 | 202,731 | ||||||
Daewoo Engineering & Construction Co., Ltd. * | 7,000 | 66,325 | ||||||
Daewoo International Corp. | 1,690 | 53,250 | ||||||
Daewoo Shipbuilding & Marine Engineering Co., Ltd. | 2,930 | 94,155 | ||||||
Doosan Corp. | 1,746 | 267,661 | ||||||
Doosan Heavy Industries and Construction Co., Ltd. | 2,150 | 135,681 | ||||||
Doosan Infracore Co., Ltd. * | 4,610 | 93,335 | ||||||
GS Engineering & Construction Corp. | 2,000 | 173,054 | ||||||
Hanjin Heavy Industries & Construction Co., Ltd. * | 910 | 17,082 | ||||||
Hyundai Development Co. | 4,000 | 88,494 | ||||||
Hyundai Engineering & Construction Co., Ltd. | 4,409 | 333,811 | ||||||
Hyundai Heavy Industries Co., Ltd. | 3,428 | 1,040,297 | ||||||
Hyundai Mipo Dockyard Co., Ltd. | 620 | 86,455 | ||||||
KCC Corp. | 300 | 96,270 | ||||||
LG Corp. | 4,536 | 283,418 | ||||||
LS Corp. | 1,683 | 129,829 | ||||||
Samsung C&T Corp. | 9,000 | 619,455 | ||||||
Samsung Engineering Co., Ltd. | 2,090 | 441,829 | ||||||
Samsung Heavy Industries Co., Ltd. | 11,850 | 431,641 | ||||||
Samsung Techwin Co., Ltd. | 3,201 | 183,409 | ||||||
SK Holdings Co., Ltd. | 2,020 | 306,054 | ||||||
STX Corp. | 3,200 | 42,477 | ||||||
STX Offshore & Shipbuilding Co., Ltd. | 3,100 | 46,830 | ||||||
5,307,735 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
LG Electronics, Inc. | 6,330 | 483,213 | ||||||
Consumer Services 0.0% | ||||||||
Kangwon Land, Inc. | 7,430 | 171,350 | ||||||
Diversified Financials 0.1% | ||||||||
Daewoo Securities Co., Ltd. | 20,008 | 249,491 | ||||||
Hyundai Securities Co., Ltd. | 9,000 | 88,896 | ||||||
Korea Investment Holdings Co., Ltd. | 2,650 | 107,187 | ||||||
Samsung Securities Co., Ltd. | 3,836 | 208,820 | ||||||
Woori Investment & Securities Co., Ltd. | 5,000 | 62,794 | ||||||
717,188 | ||||||||
Energy 0.2% | ||||||||
GS Holdings | 2,180 | 125,883 | ||||||
S-Oil Corp. | 5,238 | 587,605 | ||||||
SK Innovation Co., Ltd. | 3,972 | 658,612 | ||||||
1,372,100 | ||||||||
Food & Staples Retailing 0.0% | ||||||||
E-Mart Co., Ltd. | 547 | 132,750 | ||||||
Shinsegae Co., Ltd. | 352 | 82,594 | ||||||
215,344 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
CJ CheilJedang Corp. | 500 | 143,691 | ||||||
KT&G Corp. | 3,506 | 229,403 | ||||||
Lotte Confectionery Co., Ltd. | 50 | 80,851 | ||||||
453,945 | ||||||||
Household & Personal Products 0.1% | ||||||||
Amorepacific Corp. | 203 | 186,175 | ||||||
AMOREPACIFIC Group | 700 | 153,925 | ||||||
LG Household & Health Care Ltd. | 620 | 284,860 | ||||||
624,960 | ||||||||
Insurance 0.1% | ||||||||
Dongbu Insurance Co., Ltd. | 3,650 | 159,380 | ||||||
Samsung Fire & Marine Insurance Co., Ltd. | 2,330 | 439,456 | ||||||
Samsung Life Insurance Co., Ltd. | 3,059 | 249,647 | ||||||
848,483 |
24 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Materials 0.6% | ||||||||
Cheil Industries, Inc. | 2,050 | 175,181 | ||||||
Dongkuk Steel Mill Co., Ltd. | 1,980 | 44,601 | ||||||
Hanwha Chemical Corp. | 5,040 | 125,693 | ||||||
Hanwha Corp. | 4,090 | 129,238 | ||||||
Honam Petrochemical Corp. | 1,026 | 324,659 | ||||||
Hyosung Corp. | 1,350 | 80,248 | ||||||
Hyundai Steel Co. | 2,037 | 208,484 | ||||||
Korea Zinc Co., Ltd. | 611 | 239,490 | ||||||
LG Chem Ltd. | 2,910 | 1,036,568 | ||||||
OCI Co., Ltd. | 1,056 | 253,446 | ||||||
POSCO ADR | 24,735 | 2,287,987 | ||||||
SKC Co., Ltd. | 600 | 26,280 | ||||||
4,931,875 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||||||
Celltrion, Inc. | 3,089 | 96,641 | ||||||
Yuhan Corp. | 434 | 46,359 | ||||||
143,000 | ||||||||
Retailing 0.1% | ||||||||
Hyundai Department Store Co., Ltd. | 1,016 | 151,665 | ||||||
Lotte Midopa Co., Ltd. | 5,500 | 81,857 | ||||||
Lotte Shopping Co., Ltd. | 582 | 196,129 | ||||||
429,651 | ||||||||
Semiconductors & Semiconductor Equipment 1.3% | ||||||||
Hynix Semiconductor, Inc. * | 18,800 | 507,506 | ||||||
Samsung Electronics Co., Ltd. GDR - Reg’d | 16,978 | 9,202,076 | ||||||
9,709,582 | ||||||||
Software & Services 0.1% | ||||||||
Daum Communications Corp. | 376 | 37,878 | ||||||
NCsoft Corp. | 1,050 | 259,983 | ||||||
NHN Corp. | 2,910 | 607,375 | ||||||
SK C&C Co. Ltd. | 1,000 | 112,181 | ||||||
1,017,417 | ||||||||
Technology Hardware & Equipment 0.2% | ||||||||
LG Display Co., Ltd. ADR * | 71,877 | 945,901 | ||||||
Samsung Electro-Mechanics Co., Ltd. | 1,550 | 129,961 | ||||||
Samsung SDI Co., Ltd. | 1,000 | 123,355 | ||||||
1,199,217 | ||||||||
Telecommunication Services 0.1% | ||||||||
KT Corp. ADR | 20,079 | 295,362 | ||||||
LG Uplus Corp. | 12,400 | 70,273 | ||||||
SK Telecom Co., Ltd. ADR | 32,883 | 475,159 | ||||||
840,794 | ||||||||
Transportation 0.1% | ||||||||
Hanjin Shipping Co., Ltd. * | 4,500 | 69,387 | ||||||
Hyundai Glovis Co., Ltd. | 500 | 82,907 | ||||||
Hyundai Merchant Marine Co., Ltd. * | 3,567 | 99,798 | ||||||
Korea Express Co., Ltd. * | 1,164 | 85,319 | ||||||
Korean Air Lines Co., Ltd. * | 2,299 | 108,505 | ||||||
445,916 | ||||||||
Utilities 0.1% | ||||||||
Korea Electric Power Corp. ADR * | 82,644 | 921,481 | ||||||
37,652,511 | ||||||||
Singapore 1.5% | ||||||||
Banks 0.4% | ||||||||
DBS Group Holdings Ltd. | 30,000 | 341,634 | ||||||
Oversea-Chinese Banking Corp., Ltd. | 291,000 | 2,095,657 | ||||||
United Overseas Bank Ltd. | 25,000 | 361,883 | ||||||
2,799,174 | ||||||||
Capital Goods 0.2% | ||||||||
Keppel Corp., Ltd. | 40,000 | 354,465 | ||||||
Singapore Technologies Engineering Ltd. | 291,000 | 742,115 | ||||||
Yangzijiang Shipbuilding Holdings Ltd. | 338,000 | 368,643 | ||||||
1,465,223 | ||||||||
Consumer Services 0.0% | ||||||||
Hotel Properties Ltd. | 38,000 | 58,206 | ||||||
Food & Staples Retailing 0.1% | ||||||||
Olam International Ltd. | 154,772 | 295,407 | ||||||
Food, Beverage & Tobacco 0.2% | ||||||||
Golden Agri-Resources Ltd. (a) | 582,000 | 340,719 | ||||||
Indofood Agri Resources Ltd. * | 37,000 | 47,921 | ||||||
People’s Food Holdings Ltd. * | 291,000 | 148,190 | ||||||
Wilmar International Ltd. | 291,000 | 1,192,518 | ||||||
1,729,348 | ||||||||
Media 0.0% | ||||||||
Singapore Press Holdings Ltd. | 24,000 | 72,946 | ||||||
Real Estate 0.3% | ||||||||
CapitaCommercial Trust | 291,000 | 276,542 | ||||||
Capitaland Ltd. | 291,000 | 718,778 | ||||||
CapitaMall Trust | 291,000 | 420,065 | ||||||
Keppel Land Ltd. | 33,000 | 90,509 | ||||||
Wheelock Properties Singapore Ltd. | 16,000 | 21,043 | ||||||
Wing Tai Holdings Ltd. | 412,000 | 421,268 | ||||||
Yanlord Land Group Ltd. (a) | 371,000 | 410,586 | ||||||
2,358,791 | ||||||||
Retailing 0.0% | ||||||||
Jardine Cycle & Carriage Ltd. | 5,000 | 191,628 | ||||||
Telecommunication Services 0.2% | ||||||||
Singapore Telecommunications Ltd. | 582,000 | 1,479,562 | ||||||
Transportation 0.1% | ||||||||
ComfortDelGro Corp., Ltd. | 291,000 | 357,055 | ||||||
Neptune Orient Lines Ltd. (a) | 291,000 | 312,715 | ||||||
Singapore Post Ltd. | 291,000 | 226,368 | ||||||
896,138 | ||||||||
11,346,423 | ||||||||
Spain 2.7% | ||||||||
Banks 0.9% | ||||||||
Banco Bilbao Vizcaya Argentaria S.A. | 257,244 | 2,315,551 | ||||||
Banco de Sabadell S.A. (a) | 76,019 | 247,108 | ||||||
Banco Popular Espanol S.A. (a) | 69,881 | 288,011 | ||||||
Banco Santander S.A. | 506,340 | 4,217,739 | ||||||
7,068,409 | ||||||||
Capital Goods 0.1% | ||||||||
ACS, Actividades de Construccion y Servicios S.A. (a) | 15,714 | 469,496 |
See financial notes 25
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Zardoya Otis S.A. (a) | 8,776 | 118,805 | ||||||
588,301 | ||||||||
Diversified Financials 0.1% | ||||||||
Corporacion Financiera Alba S.A. | 2,328 | 103,577 | ||||||
Criteria Caixacorp S.A. (a) | 77,988 | 369,413 | ||||||
472,990 | ||||||||
Energy 0.3% | ||||||||
Repsol YPF S.A. | 71,877 | 1,881,652 | ||||||
Food & Staples Retailing 0.0% | ||||||||
Distribuidora Internacional de Alimentacion S.A. * | 41,904 | 205,722 | ||||||
Insurance 0.0% | ||||||||
Mapfre S.A. | 62,295 | 215,080 | ||||||
Materials 0.0% | ||||||||
Acerinox S.A. (a) | 13,968 | 200,210 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||||||
Grifols S.A. * | 13,968 | 291,486 | ||||||
Retailing 0.2% | ||||||||
Industria de Diseno Textil S.A. | 14,841 | 1,375,997 | ||||||
Software & Services 0.0% | ||||||||
Amadeus IT Holding S.A. | 10,185 | 194,830 | ||||||
Indra Sistemas S.A. (a) | 9,312 | 118,886 | ||||||
313,716 | ||||||||
Telecommunication Services 0.6% | ||||||||
Telefonica S.A. | 261,027 | 4,472,941 | ||||||
Transportation 0.1% | ||||||||
Abertis Infraestructuras S.A. | 21,825 | 374,430 | ||||||
Ferrovial S.A. | 29,391 | 373,505 | ||||||
747,935 | ||||||||
Utilities 0.4% | ||||||||
Enagas | 13,095 | 269,677 | ||||||
Gas Natural SDG S.A. | 31,137 | 528,980 | ||||||
Iberdrola S.A. | 316,676 | 1,881,708 | ||||||
2,680,365 | ||||||||
20,514,804 | ||||||||
Sweden 2.8% | ||||||||
Banks 0.6% | ||||||||
Nordea Bank AB | 185,658 | 1,801,326 | ||||||
Skandinaviska Enskilda Banken AB, A Shares | 124,257 | 935,561 | ||||||
Svenska Handelsbanken AB, A Shares | 34,629 | 1,170,151 | ||||||
Swedbank AB, A Shares | 39,285 | 676,287 | ||||||
4,583,325 | ||||||||
Capital Goods 1.0% | ||||||||
AB SKF, B Shares | 31,137 | 792,193 | ||||||
Alfa Laval AB | 30,555 | 631,480 | ||||||
Assa Abloy AB, B Shares | 27,936 | 853,922 | ||||||
Atlas Copco AB, A Shares | 42,195 | 1,107,541 | ||||||
Atlas Copco AB, B Shares | 25,317 | 590,603 | ||||||
Hexagon AB, B Shares | 11,931 | 241,316 | ||||||
Sandvik AB | 54,126 | 832,176 | ||||||
Scania AB, B Shares | 25,026 | 504,653 | ||||||
Skanska AB, B Shares | 25,317 | 464,705 | ||||||
Volvo AB, B Shares | 85,554 | 1,256,177 | ||||||
7,274,766 | ||||||||
Commercial & Professional Services 0.0% | ||||||||
Securitas AB, B Shares | 28,809 | 278,640 | ||||||
Consumer Durables & Apparel 0.0% | ||||||||
Electrolux AB, Series B | 11,640 | 257,203 | ||||||
Diversified Financials 0.2% | ||||||||
Industrivarden AB, A Shares | 16,878 | 271,046 | ||||||
Investor AB, B Shares | 34,338 | 769,194 | ||||||
Kinnevik Investment AB, B Shares | 8,148 | 186,857 | ||||||
1,227,097 | ||||||||
Energy 0.0% | ||||||||
Lundin Petroleum AB * | 10,185 | 239,148 | ||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Swedish Match AB | 22,407 | 861,087 | ||||||
Health Care Equipment & Services 0.1% | ||||||||
Elekta AB, B Shares | 2,037 | 96,031 | ||||||
Getinge AB, B Shares | 12,222 | 351,473 | ||||||
447,504 | ||||||||
Materials 0.1% | ||||||||
Boliden AB | 11,058 | 194,903 | ||||||
Holmen AB, B Shares | 8,730 | 255,168 | ||||||
Svenska Cellulosa AB, B Shares | 33,465 | 601,542 | ||||||
1,051,613 | ||||||||
Media 0.0% | ||||||||
Modern Times Group, B Shares | 2,328 | 114,564 | ||||||
Retailing 0.2% | ||||||||
Hennes & Mauritz AB, B Shares | 35,211 | 1,273,351 | ||||||
Technology Hardware & Equipment 0.3% | ||||||||
Telefonaktiebolaget LM Ericsson, B Shares | 186,531 | 1,884,968 | ||||||
Telecommunication Services 0.2% | ||||||||
Tele2 AB, B Shares | 26,481 | 542,450 | ||||||
TeliaSonera AB | 134,733 | 989,235 | ||||||
1,531,685 | ||||||||
21,024,951 | ||||||||
Switzerland 6.8% | ||||||||
Capital Goods 0.6% | ||||||||
ABB Ltd. - Reg’d * | 149,283 | 3,069,014 | ||||||
Geberit AG - Reg’d * | 3,492 | 752,785 | ||||||
Schindler Holding AG | 3,492 | 432,212 | ||||||
Schindler Holding AG - Reg’d | 4,947 | 604,063 | ||||||
Sulzer AG - Reg’d | 873 | 125,884 | ||||||
4,983,958 | ||||||||
Commercial & Professional Services 0.2% | ||||||||
Adecco S.A. - Reg’d * | 9,894 | 497,968 | ||||||
SGS S.A. - Reg’d | 396 | 745,096 | ||||||
1,243,064 | ||||||||
Consumer Durables & Apparel 0.4% | ||||||||
Compagnie Financiere Richemont S.A., A Shares | 32,883 | 2,027,697 | ||||||
Swatch Group AG | 2,037 | 927,543 | ||||||
Swatch Group AG - Reg’d | 4,947 | 394,837 | ||||||
3,350,077 |
26 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Diversified Financials 0.7% | ||||||||
Credit Suisse Group AG - Reg’d * | 66,348 | 1,790,442 | ||||||
GAM Holding Ltd. * | 11,058 | 146,687 | ||||||
Julius Baer Group Ltd. * | 15,714 | 618,373 | ||||||
Pargesa Holding S.A. | 1,455 | 108,457 | ||||||
UBS AG - Reg’d * | 220,578 | 3,097,421 | ||||||
5,761,380 | ||||||||
Energy 0.1% | ||||||||
Transocean Ltd. | 11,640 | 623,057 | ||||||
Food, Beverage & Tobacco 1.6% | ||||||||
Lindt & Spruengli AG | 2 | 73,064 | ||||||
Nestle S.A. - Reg’d | 201,081 | 12,343,653 | ||||||
12,416,717 | ||||||||
Health Care Equipment & Services 0.0% | ||||||||
Sonova Holding AG - Reg’d * | 2,619 | 293,633 | ||||||
Insurance 0.5% | ||||||||
Baloise Holding AG - Reg’d | 2,619 | 206,997 | ||||||
Swiss Re Ltd. * | 22,116 | 1,318,343 | ||||||
Zurich Financial Services AG * | 8,148 | 2,060,403 | ||||||
3,585,743 | ||||||||
Materials 0.6% | ||||||||
Givaudan S.A. - Reg’d * | 873 | 828,083 | ||||||
Glencore International plc | 34,920 | 240,982 | ||||||
Holcim Ltd. - Reg’d * | 12,513 | 819,523 | ||||||
Syngenta AG - Reg’d * | 7,275 | 2,382,333 | ||||||
4,270,921 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 1.9% | ||||||||
Lonza Group AG - Reg’d * | 4,656 | 242,969 | ||||||
Novartis AG - Reg’d | 130,950 | 7,164,928 | ||||||
Roche Holding AG | 38,703 | 6,766,634 | ||||||
14,174,531 | ||||||||
Telecommunication Services 0.1% | ||||||||
Swisscom AG - Reg’d | 1,746 | 698,516 | ||||||
Transportation 0.1% | ||||||||
Kuehne & Nagel International AG - Reg’d | 2,910 | 384,727 | ||||||
51,786,324 | ||||||||
United Kingdom 16.5% | ||||||||
Banks 2.3% | ||||||||
Barclays plc | 713,532 | 2,792,586 | ||||||
HSBC Holdings plc | 1,028,976 | 9,127,671 | ||||||
Lloyds Banking Group plc * | 2,104,512 | 1,174,463 | ||||||
Royal Bank of Scotland Group plc * | 1,147,122 | 511,625 | ||||||
Standard Chartered plc | 139,729 | 3,610,422 | ||||||
17,216,767 | ||||||||
Capital Goods 0.7% | ||||||||
BAE Systems plc | 196,425 | 981,187 | ||||||
Bunzl plc | 15,714 | 241,484 | ||||||
Cobham plc | 56,745 | 169,873 | ||||||
European Aeronautic Defence & Space Co. | 20,661 | 753,556 | ||||||
IMI plc | 8,730 | 135,134 | ||||||
Invensys plc | 44,814 | 148,975 | ||||||
Meggitt plc | 29,100 | 179,621 | ||||||
Rolls-Royce Holdings plc * | 102,723 | 1,335,731 | ||||||
Smiths Group plc | 18,042 | 313,574 | ||||||
The Weir Group plc | 8,730 | 293,697 | ||||||
Wolseley plc | 18,915 | 736,056 | ||||||
5,288,888 | ||||||||
Commercial & Professional Services 0.2% | ||||||||
Aggreko plc | 4,487 | 158,622 | ||||||
Capita Group plc | 36,375 | 445,682 | ||||||
G4S plc | 82,644 | 381,801 | ||||||
Hays plc | 89,919 | 115,703 | ||||||
Rentokil Initial plc * | 129,786 | 161,715 | ||||||
1,263,523 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
Burberry Group plc | 28,809 | 649,815 | ||||||
Consumer Services 0.4% | ||||||||
Carnival plc | 16,587 | 489,663 | ||||||
Compass Group plc | 130,950 | 1,317,872 | ||||||
Intercontinental Hotels Group plc | 20,370 | 466,624 | ||||||
Ladbrokes plc | 82,353 | 197,464 | ||||||
TUI Travel plc | 57,327 | 181,322 | ||||||
Whitbread plc | 17,169 | 465,429 | ||||||
William Hill plc | 67,512 | 242,116 | ||||||
3,360,490 | ||||||||
Diversified Financials 0.1% | ||||||||
3i Group plc | 62,565 | 189,395 | ||||||
ICAP plc | 48,597 | 298,725 | ||||||
Investec plc | 14,550 | 92,971 | ||||||
London Stock Exchange Group plc | 5,820 | 83,860 | ||||||
Man Group plc | 106,797 | 223,319 | ||||||
Schroders plc | 9,021 | 222,788 | ||||||
Schroders plc, Non-Voting Shares | 5,820 | 113,983 | ||||||
1,225,041 | ||||||||
Energy 2.0% | ||||||||
AMEC plc | 19,206 | 339,328 | ||||||
BG Group plc | 201,372 | 4,881,517 | ||||||
BP plc | 1,088,340 | 8,560,708 | ||||||
Cairn Energy plc * | 27,506 | 151,240 | ||||||
John Wood Group plc | 582 | 7,047 | ||||||
Petrofac Ltd. | 3,783 | 96,146 | ||||||
Subsea 7 S.A. * | 11,931 | 288,306 | ||||||
Tullow Oil plc | 52,089 | 1,227,341 | ||||||
15,551,633 | ||||||||
Food & Staples Retailing 0.5% | ||||||||
J Sainsbury plc | 114,072 | 543,575 | ||||||
Tesco plc | 471,420 | 2,380,453 | ||||||
William Morrison Supermarkets plc | 153,648 | 711,790 | ||||||
3,635,818 | ||||||||
Food, Beverage & Tobacco 2.3% | ||||||||
Associated British Foods plc | 21,534 | 412,106 | ||||||
British American Tobacco plc | 116,400 | 5,907,412 | ||||||
Diageo plc | 145,500 | 3,494,568 | ||||||
Imperial Tobacco Group plc | 57,618 | 2,292,762 | ||||||
SABMiller plc | 69,258 | 2,818,455 | ||||||
Tate & Lyle plc | 32,010 | 356,662 | ||||||
Unilever plc | 76,242 | 2,473,610 | ||||||
17,755,575 | ||||||||
Health Care Equipment & Services 0.1% | ||||||||
Smith & Nephew plc | 57,909 | 571,691 |
See financial notes 27
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Household & Personal Products 0.3% | ||||||||
Reckitt Benckiser Group plc | 46,560 | 2,588,328 | ||||||
Insurance 0.8% | ||||||||
Aviva plc | 171,108 | 1,006,698 | ||||||
Legal & General Group plc | 382,665 | 738,436 | ||||||
Old Mutual plc | 343,380 | 872,715 | ||||||
Prudential plc | 170,526 | 1,940,897 | ||||||
Resolution Ltd. | 202,574 | 870,488 | ||||||
Standard Life plc | 123,966 | 460,418 | ||||||
5,889,652 | ||||||||
Materials 2.4% | ||||||||
Anglo American plc | 81,771 | 3,460,910 | ||||||
Antofagasta plc | 15,132 | 321,496 | ||||||
BHP Billiton plc | 131,532 | 4,281,107 | ||||||
Eurasian Natural Resources Corp. | 24,444 | 273,532 | ||||||
Fresnillo plc | 11,931 | 362,505 | ||||||
Johnson Matthey plc | 11,931 | 439,885 | ||||||
Kazakhmys plc | 18,624 | 329,937 | ||||||
Lonmin plc | 12,804 | 225,605 | ||||||
Randgold Resources Ltd. | 4,947 | 568,986 | ||||||
Rexam plc | 60,237 | 399,432 | ||||||
Rio Tinto plc | 84,099 | 4,814,885 | ||||||
Vedanta Resources plc | 9,312 | 214,206 | ||||||
Xstrata plc | 136,188 | 2,610,641 | ||||||
18,303,127 | ||||||||
Media 0.5% | ||||||||
Aegis Group plc | 43,113 | 118,940 | ||||||
British Sky Broadcasting Group plc | 67,221 | 719,460 | ||||||
Daily Mail & General Trust plc, A Shares | 12,804 | 87,951 | ||||||
ITV plc | 265,974 | 365,184 | ||||||
Pearson plc | 41,322 | 791,458 | ||||||
Reed Elsevier plc | 60,819 | 534,840 | ||||||
WPP plc | 71,004 | 911,372 | ||||||
3,529,205 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 1.2% | ||||||||
AstraZeneca plc | 86,136 | 3,863,061 | ||||||
GlaxoSmithKline plc | 247,350 | 5,480,440 | ||||||
9,343,501 | ||||||||
Real Estate 0.3% | ||||||||
British Land Co. plc | 79,734 | 599,026 | ||||||
Capital Shopping Centres Group | 62,856 | 334,062 | ||||||
Hammerson plc | 61,692 | 386,118 | ||||||
Land Securities Group plc | 45,687 | 492,633 | ||||||
SEGRO plc | 57,327 | 215,206 | ||||||
2,027,045 | ||||||||
Retailing 0.2% | ||||||||
Kingfisher plc | 121,056 | 549,588 | ||||||
Marks & Spencer Group plc | 82,062 | 475,856 | ||||||
Next plc | 9,312 | 412,199 | ||||||
1,437,643 | ||||||||
Semiconductors & Semiconductor Equipment 0.1% | ||||||||
ARM Holdings plc | 73,914 | 672,431 | ||||||
Software & Services 0.1% | ||||||||
Logica plc | 98,067 | 134,803 | ||||||
The Sage Group plc | 74,787 | 371,069 | ||||||
505,872 | ||||||||
Telecommunication Services 1.2% | ||||||||
BT Group plc | 434,754 | 1,493,170 | ||||||
Inmarsat plc | 25,317 | 193,963 | ||||||
Vodafone Group plc | 2,748,786 | 7,436,236 | ||||||
9,123,369 | ||||||||
Utilities 0.7% | ||||||||
Centrica plc | 280,524 | 1,362,293 | ||||||
International Power plc | 92,538 | 511,326 | ||||||
National Grid plc | 184,847 | 1,894,245 | ||||||
Scottish & Southern Energy plc | 49,761 | 1,025,430 | ||||||
Severn Trent plc | 12,804 | 322,146 | ||||||
United Utilities Group plc | 32,010 | 312,687 | ||||||
5,428,127 | ||||||||
125,367,541 | ||||||||
United States 0.1% | ||||||||
Health Care Equipment & Services 0.1% | ||||||||
Synthes, Inc. (b) | 4,365 | 758,793 | ||||||
Total Common Stock | ||||||||
(Cost $736,060,508) | 750,212,140 | |||||||
Preferred Stock 0.4% of net assets | ||||||||
Germany 0.4% | ||||||||
Automobiles & Components 0.3% | ||||||||
Porsche Automobil Holding SE | 8,439 | 551,629 | ||||||
Volkswagen AG | 9,312 | 1,748,292 | ||||||
2,299,921 | ||||||||
Household & Personal Products 0.1% | ||||||||
Henkel AG & Co. KGaA | 8,730 | 570,476 | ||||||
2,870,397 | ||||||||
Italy 0.0% | ||||||||
Diversified Financials 0.0% | ||||||||
EXOR S.p.A. | 873 | 18,802 | ||||||
Total Preferred Stock | ||||||||
(Cost $2,310,152) | 2,889,199 | |||||||
Other Investment Company 0.1% of net assets | ||||||||
Money Market Fund 0.1% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 507,296 | 507,296 | ||||||
Total Other Investment Company | ||||||||
(Cost $507,296) | 507,296 | |||||||
End of Investments | ||||||||
28 See financial notes
Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Collateral Invested for Securities on Loan 0.3% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 2,281,438 | 2,281,438 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $2,281,438) | 2,281,438 | |||||||
End of Collateral Invested for Securities on Loan |
At 2/29/12, the tax basis cost of the fund’s investments was $739,049,213 and the unrealized appreciation and depreciation were $61,221,158 and ($46,661,736), respectively, with a net unrealized appreciation of $14,559,422.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $758,793 or 0.1% of net assets. |
ADR — | American Depositary Receipt | |
CVA — | Dutch Certificate | |
GDR — | Global Depositary Receipt | |
Reg’d — | Registered | |
REIT — | Real Estate Investment Trust | |
RSP — | Risparmio (Convertible Savings Shares) |
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $750,212,140 | $— | $— | $750,212,140 | ||||||||||||
Preferred Stock(a) | 2,889,199 | — | — | 2,889,199 | ||||||||||||
Other Investment Company(a) | 507,296 | — | — | 507,296 | ||||||||||||
Total | $753,608,635 | $— | $— | $753,608,635 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $2,281,438 | $— | $— | $2,281,438 |
(a) | As categorized in Portfolio Holdings. |
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
Balance | Change in | Balance | ||||||||||||||||||||||||||||||
as of | Realized | Unrealized | Gross | Gross | as of | |||||||||||||||||||||||||||
August 31, | Gain | Gains | Gross | Gross | Transfers | Transfers | February 29, | |||||||||||||||||||||||||
Investments in Securities | 2011 | (Loss) | (Losses) | Purchases | Sales | in* | out* | 2012 | ||||||||||||||||||||||||
Common Stock | ||||||||||||||||||||||||||||||||
Australia | $9,160 | $— | $— | $— | $— | $— | ($9,160 | ) | $— | |||||||||||||||||||||||
Japan | 199,871 | — | 31,463 | — | (231,334 | ) | — | — | — | |||||||||||||||||||||||
Total | $209,031 | $— | $31,463 | $— | ($231,334 | ) | $— | ($9,160 | ) | $— | ||||||||||||||||||||||
* | All security transfers in and out of Level 3 from Level 1 or Level 2 were the result of fair valued securities for which no quoted value was available. |
There were no significant transfers between Level 1 and Level 2 for the period ended February 29, 2012.
See financial notes 29
Schwab International Equity ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $738,877,956) including securities on loan of $2,667,721 | $753,608,635 | |||||
Collateral invested for securities on loan | 2,281,438 | |||||
Foreign currency, at value (cost $4,418,508) | 4,432,211 | |||||
Receivables: | ||||||
Dividends | 2,013,073 | |||||
Foreign tax reclaims | 280,847 | |||||
Income from securities on loan | + | 4,203 | ||||
Total assets | 762,620,407 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 2,281,438 | |||||
Payables: | ||||||
Investments bought | 2,908,548 | |||||
Investment adviser fees | + | 8,063 | ||||
Total liabilities | 5,198,049 | |||||
Net Assets | ||||||
Total assets | 762,620,407 | |||||
Total liabilities | − | 5,198,049 | ||||
Net assets | $757,422,358 | |||||
Net Assets by Source | ||||||
Capital received from investors | 760,697,366 | |||||
Net investment income not yet distributed | 1,600,835 | |||||
Net realized capital losses | (19,632,158 | ) | ||||
Net unrealized capital gains | 14,756,315 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$757,422,358 | 29,100,001 | $26.03 |
30 See financial notes
Schwab International Equity ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (net of foreign withholding tax of $603,073) | $7,784,366 | |||||
Interest | 1,932 | |||||
Securities on loan | + | 73,799 | ||||
Total investment income | 7,860,097 | |||||
Expenses | ||||||
Investment adviser fees | 410,233 | |||||
Total expenses | − | 410,233 | ||||
Net investment income | 7,449,864 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments | (13,667,483 | ) | ||||
Net realized losses on foreign currency transactions | + | (184,177 | ) | |||
Net realized losses | (13,851,660 | ) | ||||
Net unrealized gains on investments | 35,139,405 | |||||
Net unrealized losses on foreign currency translations | + | (38,324 | ) | |||
Net unrealized gains | + | 35,101,081 | ||||
Net realized and unrealized gains | 21,249,421 | |||||
Net increase in net assets resulting from operations | $28,699,285 |
See financial notes 31
Schwab International Equity ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $7,449,864 | $16,338,245 | ||||||||
Net realized losses | (13,851,660 | ) | (3,996,445 | ) | ||||||
Net unrealized gains (losses) | + | 35,101,081 | (1,919,270 | ) | ||||||
Net increase in net assets resulting from operations | 28,699,285 | 10,422,530 | ||||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($19,440,540 | ) | ($7,027,040 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 4,700,000 | $113,955,917 | 12,400,000 | $344,943,232 | ||||||||||||||
Shares Redeemed | + | — | — | — | — | |||||||||||||
Net transactions in fund shares | 4,700,000 | $113,955,917 | 12,400,000 | $344,943,232 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 24,400,001 | $634,207,696 | 12,000,001 | $285,868,974 | ||||||||||||||
Total increase | + | 4,700,000 | 123,214,662 | 12,400,000 | 348,338,722 | |||||||||||||
End of period | 29,100,001 | $757,422,358 | 24,400,001 | $634,207,696 | ||||||||||||||
Net investment income not yet distributed | $1,600,835 | $13,591,511 |
32 See financial notes
Schwab International Small-Cap Equity ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 1/13/101– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 27.48 | 23.54 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.23 | 0.72 | 0.21 | |||||||||||
Net realized and unrealized gains (losses) | (0.32 | ) | 3.88 | (1.67 | ) | |||||||||
Total from investment operations | (0.09 | ) | 4.60 | (1.46 | ) | |||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.82 | ) | (0.66 | ) | — | |||||||||
Net asset value at end of period | 26.57 | 27.48 | 23.54 | |||||||||||
Total return (%) | 0.23 | 2 | 19.52 | (5.84 | )2 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.35 | 3 | 0.35 | 0.35 | 3 | |||||||||
Gross operating expenses | 0.35 | 3 | 0.35 | 0.35 | 3 | |||||||||
Net investment income (loss) | 1.69 | 3 | 2.46 | 2.18 | 3 | |||||||||
Portfolio turnover rate4 | 17 | 2 | 18 | 7 | 2 | |||||||||
Net assets, end of period ($ x 1,000) | 170,028 | 162,139 | 58,848 |
* Unaudited.
1 Commencement of operations.
2 Not annualized.
3 Annualized.
4 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes 33
Schwab International Small-Cap Equity ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
98 | .7% | Common Stock | 164,701,242 | 167,869,089 | ||||||||
0 | .3% | Other Investment Companies | 523,498 | 571,882 | ||||||||
0 | .5% | Preferred Stock | 699,802 | 762,370 | ||||||||
0 | .0% | Rights | — | 480 | ||||||||
99 | .5% | Total Investments | 165,924,542 | 169,203,821 | ||||||||
3 | .9% | Collateral Invested for Securities on Loan | 6,627,995 | 6,627,995 | ||||||||
(3 | .4)% | Other Assets and Liabilities, Net | (5,803,355 | ) | ||||||||
100 | .0% | Net Assets | 170,028,461 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 98.7% of net assets | ||||||||
Australia 8.0% | ||||||||
Capital Goods 0.9% | ||||||||
Ausdrill Ltd. | 16,000 | 68,630 | ||||||
Boart Longyear Ltd. | 82,451 | 383,062 | ||||||
Bradken Ltd. | 22,713 | 204,666 | ||||||
Emeco Holdings Ltd. | 56,740 | 65,903 | ||||||
Macmahon Holdings Ltd. * | 206,517 | 182,968 | ||||||
Monadelphous Group Ltd. | 9,565 | 246,788 | ||||||
NRW Holdings Ltd. | 41,000 | 169,663 | ||||||
UGL Ltd. | 17,742 | 234,824 | ||||||
1,556,504 | ||||||||
Commercial & Professional Services 0.8% | ||||||||
Cabcharge Australia Ltd. | 27,104 | 166,043 | ||||||
Campbell Brothers Ltd. | 6,144 | 394,049 | ||||||
Mineral Resources Ltd. | 6,400 | 91,277 | ||||||
SAI Global Ltd. | 37,841 | 193,796 | ||||||
Seek Ltd. | 35,848 | 262,216 | ||||||
Transfield Services Ltd. | 72,793 | 191,904 | ||||||
1,299,285 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
G.U.D. Holdings Ltd. (a) | 19,018 | 152,055 | ||||||
Consumer Services 0.3% | ||||||||
Invocare Ltd. | 36,169 | 309,895 | ||||||
Navitas Ltd. (a) | 34,165 | 121,446 | ||||||
431,341 | ||||||||
Diversified Financials 0.1% | ||||||||
FlexiGroup Ltd. | 47,835 | 111,636 | ||||||
Energy 0.7% | ||||||||
Aurora Oil & Gas Ltd. *(a) | 96,000 | 337,100 | ||||||
AWE Ltd. * | 83,941 | 155,540 | ||||||
Beach Energy Ltd. | 65,551 | 110,841 | ||||||
Coalspur Mines Ltd. *(a) | 57,232 | 96,465 | ||||||
Dart Energy Ltd. * | 74,865 | 31,951 | ||||||
Karoon Gas Australia Ltd. * | 33,648 | 219,584 | ||||||
Linc Energy Ltd. * | 130,357 | 209,858 | ||||||
Nexus Energy Ltd. * | 72,960 | 16,160 | ||||||
1,177,499 | ||||||||
Food, Beverage & Tobacco 0.2% | ||||||||
Australian Agricultural Co., Ltd. * | 34,165 | 50,018 | ||||||
GrainCorp Ltd. | 44,183 | 378,081 | ||||||
428,099 | ||||||||
Health Care Equipment & Services 0.2% | ||||||||
Primary Health Care Ltd. | 95,670 | 323,537 | ||||||
Sigma Pharmaceuticals Ltd. | 50,880 | 33,534 | ||||||
357,071 | ||||||||
Materials 2.1% | ||||||||
Ampella Mining Ltd. *(a) | 27,335 | 42,086 | ||||||
Atlas Iron Ltd. | 94,769 | 326,634 | ||||||
Bathurst Resources Ltd. *(a) | 89,614 | 77,943 | ||||||
Beadell Resources Ltd. * | 48,823 | 41,146 | ||||||
Centamin plc * | 92,391 | 134,012 | ||||||
Coal of Africa Ltd. *(a) | 97,013 | 111,107 | ||||||
Discovery Metals Ltd. * | 48,000 | 82,201 | ||||||
Flinders Mines Ltd. * | 192,896 | 61,482 | ||||||
Gindalbie Metals Ltd. * | 152,626 | 114,609 | ||||||
Gryphon Minerals Ltd. *(a) | 47,835 | 59,953 | ||||||
Independence Group NL (a) | 31,725 | 153,905 | ||||||
Integra Mining Ltd. * | 145,385 | 91,107 | ||||||
Intrepid Mines Ltd. * | 60,597 | 86,423 | ||||||
Kingsgate Consolidated Ltd. (a) | 23,915 | 177,255 | ||||||
Medusa Mining Ltd. | 32,548 | 226,121 | ||||||
Mirabela Nickel Ltd. * | 102,505 | 111,305 | ||||||
Mount Gibson Iron Ltd. | 149,013 | 203,666 | ||||||
OceanaGold Corp. * | 27,200 | 69,315 | ||||||
PanAust Ltd. * | 84,288 | 331,491 | ||||||
Perseus Mining Ltd. * | 85,214 | 264,239 | ||||||
Ramelius Resources Ltd. * | 16,630 | 19,585 | ||||||
Regis Resources Ltd. * | 52,610 | 246,128 | ||||||
Resolute Mining Ltd. * | 70,400 | 158,213 | ||||||
Sandfire Resources NL *(a) | 15,189 | 135,390 | ||||||
St. Barbara Ltd. * | 54,697 | 136,515 | ||||||
Sundance Resources Ltd. * | 418,735 | 192,280 | ||||||
3,654,111 | ||||||||
Media 0.1% | ||||||||
Austar United Communications Ltd. * | 117,792 | 171,812 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
Acrux Ltd. | 9,253 | 37,890 | ||||||
Mesoblast Ltd. *(a) | 37,632 | 310,232 | ||||||
Pharmaxis Ltd. *(a) | 44,800 | 50,341 | ||||||
398,463 | ||||||||
Real Estate 0.9% | ||||||||
Abacus Property Group * | 70,059 | 146,092 | ||||||
Aspen Group | 64,000 | 34,229 | ||||||
BWP Trust | 116,664 | 229,410 | ||||||
Centro Retail Australia * | 134,529 | 271,081 | ||||||
Challenger Diversified Property Group | 102,505 | 58,145 |
34 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Charter Hall Group | 47,835 | 111,119 | ||||||
Charter Hall Retail REIT | 65,888 | 223,533 | ||||||
FKP Property Group | 199,650 | 118,642 | ||||||
Investa Office Fund | 488,323 | 329,755 | ||||||
1,522,006 | ||||||||
Retailing 0.6% | ||||||||
Automotive Holdings Group Ltd. | 54,625 | 138,696 | ||||||
David Jones Ltd. (a) | 71,488 | 208,546 | ||||||
JB Hi-Fi Ltd. (a) | 11,095 | 136,659 | ||||||
Myer Holdings Ltd. (a) | 82,005 | 199,355 | ||||||
Pacific Brands Ltd. | 181,376 | 140,117 | ||||||
Super Retail Group Ltd. (a) | 16,000 | 121,356 | ||||||
Wotif.com Holdings Ltd. | 18,797 | 93,422 | ||||||
1,038,151 | ||||||||
Software & Services 0.2% | ||||||||
carsales.com.au Ltd. (a) | 15,937 | 88,334 | ||||||
Iress Market Technology Ltd. | 29,760 | 228,617 | ||||||
316,951 | ||||||||
Telecommunication Services 0.1% | ||||||||
TPG Telecom Ltd. | 62,600 | 106,527 | ||||||
Transportation 0.1% | ||||||||
Virgin Australia Holdings Ltd. * | 353,113 | 162,146 | ||||||
Utilities 0.4% | ||||||||
APA Group (a) | 64,000 | 339,521 | ||||||
Energy World Corp., Ltd. * | 151,581 | 113,005 | ||||||
Spark Infrastructure Group | 164,010 | 241,884 | ||||||
694,410 | ||||||||
13,578,067 | ||||||||
Austria 0.6% | ||||||||
Automobiles & Components 0.1% | ||||||||
Semperit AG Holding | 2,680 | 119,382 | ||||||
Capital Goods 0.1% | ||||||||
Wienerberger AG | 17,792 | 220,153 | ||||||
Energy 0.1% | ||||||||
Schoeller-Bleckmann Oilfield Equipment AG | 1,637 | 148,469 | ||||||
Materials 0.0% | ||||||||
Mayr Melnhof Karton AG | 680 | 67,440 | ||||||
Real Estate 0.2% | ||||||||
CA Immobilien Anlagen AG * | 15,246 | 159,159 | ||||||
Conwert Immobilien Invest SE | 14,723 | 166,679 | ||||||
S IMMO AG * | 6,400 | 37,481 | ||||||
363,319 | ||||||||
Transportation 0.1% | ||||||||
Oesterreichische Post AG | 4,583 | 151,796 | ||||||
1,070,559 | ||||||||
Belgium 1.1% | ||||||||
Consumer Durables & Apparel 0.0% | ||||||||
Van de Velde N.V. | 832 | 42,460 | ||||||
Diversified Financials 0.4% | ||||||||
Ackermans & van Haaren N.V. | 3,695 | 308,035 | ||||||
RHJ International * | 21,067 | 124,562 | ||||||
Sofina S.A. | 2,594 | 206,048 | ||||||
638,645 | ||||||||
Materials 0.3% | ||||||||
Nyrstar * | 26,541 | 251,722 | ||||||
Tessenderlo Chemie N.V. | 4,511 | 148,325 | ||||||
400,047 | ||||||||
Real Estate 0.2% | ||||||||
Befimmo S.C.A. Sicafi | 2,325 | 149,754 | ||||||
Cofinimmo | 1,664 | 201,447 | ||||||
351,201 | ||||||||
Retailing 0.1% | ||||||||
S.A. D’Ieteren N.V. | 4,480 | 217,062 | ||||||
Technology Hardware & Equipment 0.1% | ||||||||
Barco N.V. | 1,088 | 71,723 | ||||||
EVS Broadcast Equipment S.A. | 2,702 | 146,205 | ||||||
217,928 | ||||||||
1,867,343 | ||||||||
Canada 20.9% | ||||||||
Automobiles & Components 0.1% | ||||||||
Linamar Corp. | 7,200 | 134,504 | ||||||
Banks 0.4% | ||||||||
Canadian Western Bank | 7,200 | 201,025 | ||||||
Genworth MI Canada, Inc. | 7,200 | 158,335 | ||||||
Home Capital Group, Inc. (a) | 7,200 | 361,115 | ||||||
720,475 | ||||||||
Capital Goods 0.8% | ||||||||
Aecon Group, Inc. | 7,200 | 85,674 | ||||||
ATS Automation Tooling Systems, Inc. * | 14,400 | 119,884 | ||||||
CAE, Inc. | 40,800 | 441,574 | ||||||
Russel Metals, Inc. (a) | 7,200 | 195,470 | ||||||
Superior Plus Corp. | 12,800 | 100,456 | ||||||
Toromont Industries Ltd. | 7,200 | 171,785 | ||||||
Westport Innovations, Inc. *(a) | 6,400 | 260,951 | ||||||
1,375,794 | ||||||||
Commercial & Professional Services 0.6% | ||||||||
Progressive Waste Solutions Ltd. | 14,000 | 289,680 | ||||||
Ritchie Bros. Auctioneers, Inc. | 14,400 | 352,927 | ||||||
Stantec, Inc. * | 7,200 | 213,526 | ||||||
Transcontinental, Inc., Class A | 7,200 | 93,568 | ||||||
949,701 | ||||||||
Consumer Durables & Apparel 0.3% | ||||||||
Dorel Industries, Inc., Class B | 6,400 | 174,986 | ||||||
Gildan Activewear, Inc. | 14,400 | 361,553 | ||||||
536,539 | ||||||||
Diversified Financials 0.8% | ||||||||
AGF Management Ltd., Class B | 7,200 | 112,062 | ||||||
Canaccord Financial, Inc. (a) | 7,200 | 67,179 | ||||||
Dundee Corp., Class A * | 7,200 | 177,341 | ||||||
GMP Capital, Inc. | 6,400 | 59,130 | ||||||
Onex Corp. | 15,700 | 579,415 | ||||||
TMX Group, Inc. | 7,200 | 315,793 | ||||||
1,310,920 |
See financial notes 35
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Energy 6.0% | ||||||||
Advantage Oil & Gas Ltd. * | 21,600 | 83,992 | ||||||
AltaGas Ltd. | 7,000 | 217,615 | ||||||
Athabasca Oil Sands Corp. * | 54,000 | 673,252 | ||||||
Bankers Petroleum Ltd. * | 34,000 | 168,455 | ||||||
Baytex Energy Corp. (a) | 12,800 | 743,607 | ||||||
Birchcliff Energy Ltd. * | 12,800 | 143,731 | ||||||
BlackPearl Resources, Inc. * | 38,400 | 171,932 | ||||||
Bonavista Energy Corp. | 12,800 | 298,898 | ||||||
Bonterra Energy Corp. | 300 | 16,810 | ||||||
Calfrac Well Services Ltd. | 7,200 | 236,333 | ||||||
Celtic Exploration Ltd. * | 15,500 | 285,309 | ||||||
Crew Energy, Inc. * | 7,200 | 96,785 | ||||||
Denison Mines Corp. * | 68,000 | 133,936 | ||||||
Enerflex Ltd. | 7,200 | 88,597 | ||||||
Enerplus Corp. | 15,800 | 384,032 | ||||||
Ensign Energy Services, Inc. | 14,400 | 257,751 | ||||||
Fairborne Energy Ltd. * | 6,400 | 16,959 | ||||||
Gibson Energy, Inc. | 6,400 | 138,598 | ||||||
Keyera Corp. | 6,400 | 274,207 | ||||||
Legacy Oil & Gas, Inc. * | 14,000 | 159,196 | ||||||
Mullen Group Ltd. | 7,200 | 160,309 | ||||||
NAL Energy Corp. | 6,400 | 49,643 | ||||||
Nuvista Energy Ltd. * | 14,400 | 58,334 | ||||||
Paramount Resources Ltd., A Shares * | 7,200 | 273,833 | ||||||
Pason Systems, Inc. | 7,200 | 106,215 | ||||||
Pembina Pipeline Corp. | 19,200 | 547,179 | ||||||
Pengrowth Energy Corp. | 25,600 | 262,251 | ||||||
PetroBakken Energy Ltd., A Shares | 6,800 | 111,153 | ||||||
Petrobank Energy & Resources Ltd. * | 6,400 | 102,340 | ||||||
Petrominerales Ltd. | 9,949 | 186,566 | ||||||
Peyto Exploration & Development Corp. | 12,800 | 240,158 | ||||||
Precision Drilling Corp. * | 28,000 | 340,566 | ||||||
Progress Energy Resources Corp. | 35,800 | 393,638 | ||||||
Provident Energy Ltd. | 19,200 | 231,971 | ||||||
Savanna Energy Services Corp. * | 14,400 | 113,013 | ||||||
ShawCor Ltd., Class A | 7,200 | 234,067 | ||||||
SouthGobi Resources Ltd. * | 12,800 | 98,117 | ||||||
Tourmaline Oil Corp. * | 12,800 | 334,246 | ||||||
Trican Well Service Ltd. | 21,000 | 386,548 | ||||||
Trilogy Energy Corp. | 8,000 | 259,099 | ||||||
Trinidad Drilling Ltd. | 19,200 | 151,074 | ||||||
Uranium One, Inc. * | 76,800 | 253,414 | ||||||
Veresen, Inc. | 14,900 | 230,697 | ||||||
Vermilion Energy, Inc. | 9,600 | 474,176 | ||||||
10,188,602 | ||||||||
Food & Staples Retailing 0.8% | ||||||||
Empire Co., Ltd., A Shares | 6,800 | 393,453 | ||||||
Metro, Inc., A Shares | 13,600 | 707,788 | ||||||
The Jean Coutu Group, Inc., A Shares | 14,400 | 184,505 | ||||||
1,285,746 | ||||||||
Food, Beverage & Tobacco 0.5% | ||||||||
Cott Corp. * | 14,400 | 94,738 | ||||||
Maple Leaf Foods, Inc. | 14,400 | 165,353 | ||||||
Viterra, Inc. | 51,600 | 560,556 | ||||||
820,647 | ||||||||
Insurance 0.1% | ||||||||
Industrial Alliance Insurance & Financial Services, Inc. | 7,200 | 197,224 | ||||||
Materials 5.7% | ||||||||
Alamos Gold, Inc. | 15,000 | 280,826 | ||||||
AuRico Gold, Inc. * | 35,827 | 352,832 | ||||||
Aurizon Mines Ltd. * | 21,600 | 115,133 | ||||||
B2Gold Corp. * | 25,600 | 106,044 | ||||||
Banro Corp. * | 12,800 | 69,656 | ||||||
Canfor Corp. * | 14,400 | 166,376 | ||||||
Capstone Mining Corp. * | 28,800 | 92,691 | ||||||
CCL Industries, Inc., Class B | 7,200 | 263,161 | ||||||
Centerra Gold, Inc. | 29,700 | 600,061 | ||||||
China Gold International Resources Corp., Ltd. * | 21,000 | 92,319 | ||||||
Detour Gold Corp. * | 12,800 | 352,830 | ||||||
Dundee Precious Metals, Inc. * | 14,000 | 144,413 | ||||||
Eastern Platinum Ltd. * | 85,400 | 49,422 | ||||||
First Majestic Silver Corp. * | 6,400 | 131,970 | ||||||
Franco-Nevada Corp. | 15,800 | 701,331 | ||||||
Gabriel Resources Ltd. * | 21,600 | 132,677 | ||||||
Great Basin Gold Ltd. * | 42,900 | 37,458 | ||||||
Harry Winston Diamond Corp. * | 7,200 | 97,881 | ||||||
HudBay Minerals, Inc. | 22,700 | 274,949 | ||||||
Imperial Metals Corp. * | 14,000 | 234,388 | ||||||
Inmet Mining Corp. | 8,800 | 600,217 | ||||||
Kirkland Lake Gold, Inc. * | 6,800 | 114,743 | ||||||
Lake Shore Gold Corp. * | 36,000 | 56,287 | ||||||
Lundin Mining Corp. * | 48,300 | 254,017 | ||||||
Major Drilling Group International, Inc. | 13,600 | 248,955 | ||||||
Mercator Minerals Ltd. *(a) | 14,000 | 24,306 | ||||||
Methanex Corp. | 14,400 | 453,513 | ||||||
Minefinders Corp. Ltd. * | 7,200 | 112,428 | ||||||
Neo Material Technologies, Inc. * | 6,400 | 56,596 | ||||||
Nevsun Resources Ltd. | 12,800 | 53,152 | ||||||
New Gold, Inc. * | 64,000 | 751,145 | ||||||
NovaGold Resources, Inc. * | 28,800 | 239,476 | ||||||
Pan American Silver Corp. | 15,400 | 386,974 | ||||||
Pretium Resources, Inc. *(a) | 6,400 | 115,336 | ||||||
Quadra FNX Mining Ltd. * | 32,000 | 487,010 | ||||||
Rubicon Minerals Corp. * | 14,400 | 52,778 | ||||||
Seabridge Gold, Inc. * | 6,400 | 152,958 | ||||||
SEMAFO, Inc. | 34,400 | 231,906 | ||||||
Sherritt International Corp. | 30,100 | 185,499 | ||||||
Silver Standard Resources, Inc. * | 7,200 | 124,416 | ||||||
Silvercorp Metals, Inc. | 21,000 | 155,003 | ||||||
Taseko Mines Ltd. * | 21,600 | 87,939 | ||||||
Thompson Creek Metals Co., Inc. * | 14,400 | 105,410 | ||||||
West Fraser Timber Co., Ltd. | 7,000 | 340,566 | ||||||
9,687,048 | ||||||||
Media 1.0% | ||||||||
Astral Media, Inc., A Shares | 7,200 | 267,181 | ||||||
Cineplex, Inc. | 6,400 | 173,621 | ||||||
Cogeco Cable, Inc. | 6,400 | 316,637 | ||||||
Corus Entertainment, Inc. | 6,400 | 142,107 | ||||||
Groupe Aeroplan, Inc. | 25,600 | 322,291 | ||||||
Imax Corp. * | 6,800 | 174,393 | ||||||
Quebecor, Inc., Class B | 6,800 | 249,852 | ||||||
Torstar Corp. | 6,800 | 67,106 | ||||||
1,713,188 |
36 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Nordion, Inc. | 14,400 | 145,031 | ||||||
Real Estate 1.9% | ||||||||
Allied Properties Real Estate Investment Trust | 7,200 | 194,373 | ||||||
Artis Real Estate Investment Trust | 6,400 | 103,250 | ||||||
Boardwalk Real Estate Investment Trust | 7,200 | 406,802 | ||||||
Calloway Real Estate Investment Trust | 7,200 | 197,809 | ||||||
Canadian Apartment Properties Real Estate Investment Trust | 7,200 | 168,350 | ||||||
Canadian Real Estate Investment Trust | 7,200 | 279,535 | ||||||
Chartwell Seniors Housing Real Estate Investment Trust | 25,600 | 238,339 | ||||||
Cominar Real Estate Investment Trust | 7,200 | 167,838 | ||||||
Dundee Real Estate Investment Trust | 7,200 | 251,465 | ||||||
Extendicare Real Estate Investment Trust | 14,400 | 124,270 | ||||||
First Capital Realty, Inc. | 14,400 | 261,845 | ||||||
H&R Real Estate Investment Trust (a) | 21,000 | 503,599 | ||||||
InnVest Real Estate Investment Trust | 19,200 | 106,434 | ||||||
Morguard Real Estate Investment Trust | 7,200 | 119,153 | ||||||
Primaris Retail Real Estate Investment Trust | 7,200 | 158,701 | ||||||
3,281,763 | ||||||||
Retailing 0.3% | ||||||||
Dollarama, Inc. | 7,000 | 305,528 | ||||||
Reitmans Ltd., A Shares | 6,800 | 102,937 | ||||||
RONA, Inc. | 12,800 | 121,769 | ||||||
530,234 | ||||||||
Software & Services 0.4% | ||||||||
MacDonald, Dettwiler & Associates Ltd. | 6,800 | 306,188 | ||||||
Open Text Corp. * | 7,500 | 459,617 | ||||||
765,805 | ||||||||
Technology Hardware & Equipment 0.1% | ||||||||
Celestica, Inc. * | 15,000 | 141,479 | ||||||
Telecommunication Services 0.1% | ||||||||
Manitoba Telecom Services, Inc. | 6,400 | 214,752 | ||||||
Transportation 0.1% | ||||||||
TransForce, Inc. | 7,200 | 130,849 | ||||||
Utilities 0.8% | ||||||||
ATCO Ltd., Class I | 7,000 | 482,136 | ||||||
Atlantic Power Corp. * | 12,800 | 187,526 | ||||||
Emera, Inc. | 14,000 | 473,750 | ||||||
Just Energy Group, Inc. (a) | 6,400 | 83,107 | ||||||
Northland Power, Inc. | 6,400 | 112,737 | ||||||
1,339,256 | ||||||||
35,469,557 | ||||||||
China 0.9% | ||||||||
Capital Goods 0.1% | ||||||||
China Automation Group Ltd. (a) | 158,000 | 53,986 | ||||||
China Singyes Solar Technologies Holdings Ltd. | 64,000 | 37,299 | ||||||
Haitian International Holdings Ltd. | 68,000 | 71,720 | ||||||
International Mining Machinery Holdings Ltd. (b)(c) | 65,000 | 71,070 | ||||||
234,075 | ||||||||
Consumer Durables & Apparel 0.0% | ||||||||
China Hongxing Sports Ltd. *(b)(c) | 884,000 | 24,458 | ||||||
Food, Beverage & Tobacco 0.0% | ||||||||
Uni-President China Holdings Ltd. (a) | 64,000 | 41,673 | ||||||
Materials 0.2% | ||||||||
Dongyue Group (a) | 192,000 | 197,553 | ||||||
West China Cement Ltd. (a) | 640,000 | 148,536 | ||||||
346,089 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
China Medical System Holdings Ltd. (a) | 192,400 | 147,853 | ||||||
China Shineway Pharmaceutical Group Ltd. (a) | 64,000 | 120,314 | ||||||
268,167 | ||||||||
Retailing 0.2% | ||||||||
Intime Department Store Group Co., Ltd. | 72,000 | 89,586 | ||||||
PCD Stores Group Ltd. | 352,000 | 67,625 | ||||||
Silver Base Group Holdings Ltd. (a) | 192,000 | 144,327 | ||||||
301,538 | ||||||||
Software & Services 0.1% | ||||||||
Kingdee International Software Group Co., Ltd. (a) | 512,000 | 139,294 | ||||||
Technology Hardware & Equipment 0.1% | ||||||||
China Wireless Technologies Ltd. | 512,000 | 107,606 | ||||||
O-Net Communications Group Ltd. * | 64,000 | 22,693 | ||||||
130,299 | ||||||||
Utilities 0.0% | ||||||||
Sound Global Ltd. (a) | 88,000 | 43,755 | ||||||
1,529,348 | ||||||||
Cyprus 0.1% | ||||||||
Banks 0.1% | ||||||||
Bank of Cyprus plc | 72,677 | 56,874 | ||||||
Marfin Popular Bank PCL * | 165,027 | 53,423 | ||||||
110,297 | ||||||||
Denmark 0.8% | ||||||||
Banks 0.3% | ||||||||
Jyske Bank A/S * | 8,451 | 304,420 | ||||||
Sydbank A/S | 10,981 | 211,806 | ||||||
516,226 | ||||||||
Capital Goods 0.1% | ||||||||
NKT Holding A/S (a) | 2,934 | 125,801 | ||||||
Consumer Durables & Apparel 0.0% | ||||||||
Pandora A/S (a) | 2,560 | 32,727 | ||||||
Health Care Equipment & Services 0.1% | ||||||||
GN Store Nord A/S | 24,000 | 265,143 | ||||||
Insurance 0.1% | ||||||||
Topdanmark A/S * | 1,600 | 272,916 |
See financial notes 37
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Alk-Abello A/S | 1,718 | 105,100 | ||||||
Software & Services 0.1% | ||||||||
SimCorp A/S | 680 | 111,096 | ||||||
1,429,009 | ||||||||
Finland 2.2% | ||||||||
Capital Goods 0.8% | ||||||||
Cargotec Oyj, B Shares | 6,191 | 263,275 | ||||||
Cramo Oyj | 6,034 | 97,829 | ||||||
Konecranes Oyj | 6,037 | 192,201 | ||||||
Outotec Oyj | 5,334 | 328,366 | ||||||
Ramirent Oyj | 12,674 | 132,750 | ||||||
Uponor Oyj | 6,400 | 74,954 | ||||||
YIT Oyj | 14,028 | 310,565 | ||||||
1,399,940 | ||||||||
Commercial & Professional Services 0.1% | ||||||||
Lassila & Tikanoja Oyj | 6,402 | 100,198 | ||||||
Poyry Oyj | 8,753 | 76,167 | ||||||
176,365 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
Amer Sports Oyj, A Shares | 15,320 | 208,624 | ||||||
Diversified Financials 0.1% | ||||||||
Pohjola Bank plc, A Shares | 20,774 | 241,073 | ||||||
Materials 0.4% | ||||||||
Huhtamaki Oyj | 14,795 | 206,621 | ||||||
Kemira Oyj | 12,800 | 183,896 | ||||||
M-real Oyj, B Shares * | 39,269 | 108,212 | ||||||
Talvivaara Mining Co. plc * | 24,167 | 108,289 | ||||||
Tikkurila Oyj | 6,400 | 129,703 | ||||||
736,721 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Orion Oyj, Class B | 8,057 | 174,278 | ||||||
Real Estate 0.2% | ||||||||
Citycon Oyj | 35,281 | 119,404 | ||||||
Sponda Oyj | 36,404 | 153,885 | ||||||
273,289 | ||||||||
Retailing 0.1% | ||||||||
Stockmann Oyj Abp, B Shares (a) | 5,058 | 119,421 | ||||||
Software & Services 0.1% | ||||||||
Tieto Oyj | 10,476 | 192,969 | ||||||
Telecommunication Services 0.2% | ||||||||
Elisa Oyj | 13,210 | 301,998 | ||||||
3,824,678 | ||||||||
France 3.0% | ||||||||
Capital Goods 0.3% | ||||||||
Mersen | 2,240 | 76,709 | ||||||
Nexans S.A. | 3,916 | 272,346 | ||||||
Saft Groupe S.A. | 3,297 | 100,491 | ||||||
449,546 | ||||||||
Commercial & Professional Services 0.2% | ||||||||
Derichebourg S.A. | 26,485 | 88,821 | ||||||
Teleperformance | 8,355 | 224,591 | ||||||
313,412 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
Beneteau | 6,474 | 84,697 | ||||||
Nexity | 4,060 | 114,514 | ||||||
199,211 | ||||||||
Energy 0.3% | ||||||||
Bourbon S.A. | 8,186 | 298,344 | ||||||
Etablissements Maurel et Prom | 13,201 | 251,375 | ||||||
549,719 | ||||||||
Food & Staples Retailing 0.1% | ||||||||
Rallye S.A. | 3,844 | 140,688 | ||||||
Food, Beverage & Tobacco 0.2% | ||||||||
Remy Cointreau S.A. | 3,081 | 303,050 | ||||||
Health Care Equipment & Services 0.1% | ||||||||
Medica S.A. | 9,046 | 146,420 | ||||||
Materials 0.1% | ||||||||
S.A. des Ciments Vicat | 3,831 | 261,105 | ||||||
Media 0.5% | ||||||||
Havas S.A. | 67,075 | 342,485 | ||||||
Ipsos | 4,204 | 154,286 | ||||||
Metropole Television S.A. | 11,834 | 208,327 | ||||||
Societe d’Edition de Canal + | 17,295 | 112,092 | ||||||
817,190 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Virbac S.A. | 952 | 141,803 | ||||||
Real Estate 0.2% | ||||||||
Mercialys | 3,959 | 137,907 | ||||||
Societe Immobiliere de Location pour l’Industrie et le Commerce | 1,637 | 170,915 | ||||||
308,822 | ||||||||
Retailing 0.1% | ||||||||
CFAO | 6,272 | 247,507 | ||||||
Semiconductors & Semiconductor Equipment 0.0% | ||||||||
Silicon-On-Insulator Technologies *(a) | 10,769 | 71,884 | ||||||
Software & Services 0.3% | ||||||||
Alten | 4,967 | 164,946 | ||||||
Altran Technologies S.A. * | 22,862 | 128,141 | ||||||
Groupe Steria SCA | 4,132 | 87,498 | ||||||
UbiSoft Entertainment S.A. * | 17,309 | 148,048 | ||||||
528,633 | ||||||||
Technology Hardware & Equipment 0.3% | ||||||||
Ingenico | 4,160 | 199,972 | ||||||
Neopost S.A. | 3,595 | 246,992 | ||||||
446,964 | ||||||||
Utilities 0.1% | ||||||||
Rubis | 4,508 | 255,265 | ||||||
5,181,219 | ||||||||
Germany 3.8% | ||||||||
Automobiles & Components 0.3% | ||||||||
ElringKlinger AG | 7,539 | 248,391 | ||||||
Leoni AG | 5,490 | 276,427 | ||||||
524,818 | ||||||||
Capital Goods 1.1% | ||||||||
Bauer AG (a) | 2,630 | 86,986 | ||||||
Deutz AG * | 20,203 | 147,451 |
38 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Gildemeister AG * | 9,497 | 153,784 | ||||||
Kloeckner & Co. SE | 4,823 | 74,808 | ||||||
Krones AG | 2,730 | 156,485 | ||||||
KSB AG | 136 | 81,231 | ||||||
KUKA AG *(a) | 4,601 | 104,846 | ||||||
MTU Aero Engines Holding AG | 4,727 | 361,503 | ||||||
Pfeiffer Vacuum Technology AG | 1,574 | 171,159 | ||||||
Rheinmetall AG | 1,718 | 104,624 | ||||||
SGL Carbon SE *(a) | 4,800 | 233,723 | ||||||
Vossloh AG | 1,152 | 122,327 | ||||||
1,798,927 | ||||||||
Consumer Durables & Apparel 0.2% | ||||||||
Gerry Weber International AG | 3,494 | 132,038 | ||||||
Rational AG | 612 | 147,975 | ||||||
280,013 | ||||||||
Food, Beverage & Tobacco 0.0% | ||||||||
Asian Bamboo AG (a) | 1,408 | 25,615 | ||||||
Health Care Equipment & Services 0.1% | ||||||||
Rhoen Klinikum AG | 8,451 | 166,069 | ||||||
Materials 0.6% | ||||||||
Aurubis AG | 6,150 | 367,782 | ||||||
Fuchs Petrolub AG | 5,941 | 290,870 | ||||||
Symrise AG | 12,962 | 379,903 | ||||||
1,038,555 | ||||||||
Media 0.1% | ||||||||
Sky Deutschland AG * | 64,704 | 178,995 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
MorphoSys AG * | 5,711 | 141,409 | ||||||
Stada Arzneimittel AG | 8,731 | 268,277 | ||||||
409,686 | ||||||||
Real Estate 0.4% | ||||||||
Alstria Office REIT-AG | 8,609 | 96,967 | ||||||
Deutsche Euroshop AG | 6,037 | 208,757 | ||||||
Deutsche Wohnen AG | 13,581 | 181,182 | ||||||
DIC Asset AG | 6,400 | 57,112 | ||||||
IVG Immobilien AG * | 23,195 | 67,641 | ||||||
611,659 | ||||||||
Retailing 0.2% | ||||||||
BayWa AG | 1,920 | 76,024 | ||||||
Douglas Holding AG (a) | 4,537 | 209,992 | ||||||
286,016 | ||||||||
Semiconductors & Semiconductor Equipment 0.2% | ||||||||
Aixtron SE (a) | 12,751 | 212,616 | ||||||
Dialog Semiconductor plc * | 8,628 | 185,994 | ||||||
398,610 | ||||||||
Software & Services 0.1% | ||||||||
Wirecard AG | 11,618 | 230,246 | ||||||
Technology Hardware & Equipment 0.1% | ||||||||
Wincor Nixdorf AG | 4,089 | 223,061 | ||||||
Telecommunication Services 0.2% | ||||||||
Freenet AG | 19,660 | 267,463 | ||||||
6,439,733 | ||||||||
Greece 0.2% | ||||||||
Banks 0.0% | ||||||||
Piraeus Bank S.A. * | 61,000 | 38,760 | ||||||
Capital Goods 0.0% | ||||||||
Ellaktor S.A. | 14,335 | 22,819 | ||||||
Diversified Financials 0.0% | ||||||||
Marfin Investment Group S.A. * | 76,800 | 42,635 | ||||||
Energy 0.1% | ||||||||
Motor Oil (Hellas) Corinth Refineries S.A. | 11,800 | 83,660 | ||||||
Materials 0.1% | ||||||||
Titan Cement Co. S.A. | 8,550 | 171,560 | ||||||
Retailing 0.0% | ||||||||
JUMBO S.A. * | 15,000 | 74,042 | ||||||
433,476 | ||||||||
Hong Kong 3.4% | ||||||||
Automobiles & Components 0.1% | ||||||||
Minth Group Ltd. | 144,000 | 178,057 | ||||||
Capital Goods 0.1% | ||||||||
EVA Precision Industrial Holdings Ltd. | 272,000 | 58,919 | ||||||
Lonking Holdings Ltd. (a) | 128,000 | 51,988 | ||||||
Singamas Container Holdings Ltd. | 128,000 | 38,784 | ||||||
149,691 | ||||||||
Consumer Durables & Apparel 0.5% | ||||||||
Daphne International Holdings Ltd. | 145,000 | 182,659 | ||||||
Haier Electronics Group Co., Ltd. * | 68,000 | 85,047 | ||||||
Ports Design Ltd. (a) | 72,000 | 114,558 | ||||||
Skyworth Digital Holdings Ltd. (a) | 328,000 | 184,391 | ||||||
Stella International Holdings Ltd. | 72,000 | 165,989 | ||||||
Trinity Ltd. | 162,000 | 128,252 | ||||||
860,896 | ||||||||
Consumer Services 0.2% | ||||||||
Ajisen China Holdings Ltd. (a) | 204,000 | 279,340 | ||||||
Diversified Financials 0.1% | ||||||||
Value Partners Group Ltd. (a) | 128,000 | 91,762 | ||||||
Energy 0.1% | ||||||||
Sino Oil & Gas Holdings Ltd. * | 4,160,000 | 144,823 | ||||||
Titan Petrochemicals Group Ltd. * | 1,280,000 | 55,288 | ||||||
200,111 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
C.P. Pokphand Co., Ltd. | 1,254,000 | 160,070 | ||||||
Global Bio-Chem Technology Group Co., Ltd. | 256,000 | 68,987 | ||||||
229,057 | ||||||||
Household & Personal Products 0.1% | ||||||||
Real Nutriceutical Group Ltd. (a) | 128,000 | 45,881 | ||||||
Vinda International Holdings Ltd. | 64,000 | 86,646 | ||||||
132,527 | ||||||||
Materials 0.4% | ||||||||
China Lumena New Materials Corp. (a) | 256,000 | 71,627 | ||||||
China Precious Metal Resources Holdings Co., Ltd. *(a) | 256,000 | 47,531 |
See financial notes 39
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
China Shanshui Cement Group | 288,000 | 267,365 | ||||||
China Vanadium Titano - Magnetite Mining Co., Ltd. (a) | 192,000 | 51,245 | ||||||
Fufeng Group Ltd. | 144,000 | 72,040 | ||||||
Samling Global Ltd. (c) | 1,024,000 | 93,743 | ||||||
Sino-Forest Corp. *(a)(b)(c) | 17,700 | 24,206 | ||||||
627,757 | ||||||||
Media 0.1% | ||||||||
VODone Ltd. (a) | 640,000 | 107,276 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Anxin-China Holdings Ltd. * | 260,000 | 61,349 | ||||||
Sino Biopharmaceutical Ltd. | 288,000 | 79,838 | ||||||
141,187 | ||||||||
Real Estate 0.2% | ||||||||
GZI Real Estate Investment Trust | 581,000 | 302,647 | ||||||
Retailing 0.5% | ||||||||
Chow Sang Sang Holdings International Ltd. (a) | 10,000 | 27,399 | ||||||
Emperor Watch & Jewellery Ltd. (a) | 830,000 | 119,860 | ||||||
Giordano International Ltd. | 128,000 | 102,985 | ||||||
Hengdeli Holdings Ltd. (a) | 288,000 | 124,399 | ||||||
Luk Fook Holdings International Ltd. | 64,000 | 244,672 | ||||||
New World Department Store China Ltd. | 128,000 | 80,704 | ||||||
S.A. SA International Holdings Ltd. (a) | 256,000 | 156,128 | ||||||
856,147 | ||||||||
Semiconductors & Semiconductor Equipment 0.0% | ||||||||
Apollo Solar Energy Technology Holdings Ltd. * | 1,280,000 | 46,211 | ||||||
Software & Services 0.2% | ||||||||
G-Resources Group Ltd. * | 4,080,000 | 278,814 | ||||||
Hi Sun Technology China Ltd. * | 216,000 | 48,739 | ||||||
327,553 | ||||||||
Technology Hardware & Equipment 0.2% | ||||||||
Comba Telecom Systems Holdings Ltd. (a) | 64,000 | 47,779 | ||||||
Digital China Holdings Ltd. | 192,000 | 386,194 | ||||||
433,973 | ||||||||
Telecommunication Services 0.1% | ||||||||
SmarTone Telecommunications Holding Ltd. | 64,000 | 136,488 | ||||||
Transportation 0.1% | ||||||||
Pacific Basin Shipping Ltd. | 432,000 | 223,918 | ||||||
Utilities 0.2% | ||||||||
China Gas Holdings Ltd. | 560,000 | 268,602 | ||||||
China Water Affairs Group Ltd. (a) | 256,000 | 76,909 | ||||||
Towngas China Co., Ltd. | 136,000 | 80,663 | ||||||
426,174 | ||||||||
5,750,772 | ||||||||
Ireland 1.3% | ||||||||
Banks 0.3% | ||||||||
The Governor & Co. of the Bank of Ireland * | 3,008,000 | 543,213 | ||||||
Capital Goods 0.4% | ||||||||
DCC plc | 9,615 | 247,915 | ||||||
Grafton Group plc | 46,307 | 211,851 | ||||||
Kingspan Group plc | 21,760 | 235,778 | ||||||
695,544 | ||||||||
Consumer Services 0.1% | ||||||||
Paddy Power plc | 1,920 | 114,730 | ||||||
Food, Beverage & Tobacco 0.1% | ||||||||
C&C Group plc | 51,200 | 251,016 | ||||||
Health Care Equipment & Services 0.1% | ||||||||
United Drug plc | 46,160 | 139,551 | ||||||
Materials 0.3% | ||||||||
Kenmare Resources plc * | 212,972 | 192,220 | ||||||
Smurfit Kappa Group plc * | 25,425 | 260,218 | ||||||
452,438 | ||||||||
2,196,492 | ||||||||
Israel 0.5% | ||||||||
Health Care Equipment & Services 0.1% | ||||||||
Given Imaging Ltd. * | 8,200 | 161,188 | ||||||
Semiconductors & Semiconductor Equipment 0.4% | ||||||||
EZchip Semiconductor Ltd. * | 6,830 | 275,823 | ||||||
Mellanox Technologies Ltd. * | 9,293 | 358,800 | ||||||
634,623 | ||||||||
Telecommunication Services 0.0% | ||||||||
Internet Gold-Golden Lines Ltd. * | 4,236 | 34,325 | ||||||
830,136 | ||||||||
Italy 2.1% | ||||||||
Automobiles & Components 0.0% | ||||||||
Piaggio & C S.p.A. | 22,400 | 66,581 | ||||||
Banks 0.6% | ||||||||
Banca Piccolo Credito Valtellinese Scarl (a) | 29,825 | 94,236 | ||||||
Banca Popolare dell’Emilia Romagna Scrl | 34,065 | 287,767 | ||||||
Banca Popolare di Milano Scarl | 320,000 | 210,265 | ||||||
Banca Popolare di Sondrio Scrl | 33,600 | 277,546 | ||||||
Credito Emiliano S.p.A. | 14,646 | 71,550 | ||||||
941,364 | ||||||||
Capital Goods 0.3% | ||||||||
C.I.R. S.p.A - Compagnie Industriali Riunite | 68,369 | 113,132 | ||||||
Danieli & C Officine Meccaniche S.p.A. | 9,569 | 134,533 | ||||||
Impregilo S.p.A. | 68,820 | 238,621 | ||||||
486,286 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
Tod’s S.p.A. (a) | 1,977 | 204,298 | ||||||
Diversified Financials 0.2% | ||||||||
Azimut Holding S.p.A. | 22,641 | 212,311 | ||||||
Banca Generali S.p.A. | 9,497 | 119,292 | ||||||
331,603 | ||||||||
Energy 0.1% | ||||||||
ERG S.p.A. | 15,307 | 166,881 |
40 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Health Care Equipment & Services 0.2% | ||||||||
DiaSorin S.p.A. (a) | 7,515 | 221,162 | ||||||
Sorin S.p.A. * | 90,688 | 171,173 | ||||||
392,335 | ||||||||
Insurance 0.2% | ||||||||
Fondiaria-Sai S.p.A. *(a) | 31,393 | 58,036 | ||||||
Societa Cattolica di Assicurazioni Scrl | 8,451 | 180,200 | ||||||
238,236 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Recordati S.p.A. | 15,083 | 115,006 | ||||||
Real Estate 0.0% | ||||||||
Beni Stabili S.p.A. | 102,505 | 57,522 | ||||||
Retailing 0.0% | ||||||||
Yoox S.p.A. *(a) | 3,841 | 55,132 | ||||||
Transportation 0.1% | ||||||||
Ansaldo STS S.p.A. | 20,259 | 204,202 | ||||||
Utilities 0.2% | ||||||||
ACEA S.p.A. | 12,746 | 89,940 | ||||||
Hera S.p.A. | 89,071 | 134,282 | ||||||
IREN S.p.A. | 92,915 | 89,615 | ||||||
313,837 | ||||||||
3,573,283 | ||||||||
Japan 13.9% | ||||||||
Automobiles & Components 0.8% | ||||||||
Akebono Brake Industry Co., Ltd. (a) | 12,800 | 67,052 | ||||||
Daido Metal Co., Ltd. | 7,000 | 84,062 | ||||||
Keihin Corp. (a) | 7,000 | 141,574 | ||||||
Nissin Kogyo Co., Ltd. | 21,600 | 365,871 | ||||||
Press Kogyo Co., Ltd. | 64,000 | 366,098 | ||||||
TS Tech Co., Ltd. | 14,400 | 276,116 | ||||||
1,300,773 | ||||||||
Banks 0.7% | ||||||||
FIDEA Holdings Co., Ltd. | 23,900 | 63,780 | ||||||
Kiyo Holdings, Inc. | 128,000 | 191,352 | ||||||
Miyazaki Bank Ltd. | 31,000 | 85,409 | ||||||
The Fukui Bank Ltd. | 72,000 | 229,503 | ||||||
The Oita Bank Ltd. | 68,000 | 204,991 | ||||||
The Yachiyo Bank Ltd. | 2,200 | 56,835 | ||||||
Toho Bank Ltd. | 23,000 | 82,407 | ||||||
Tokyo Tomin Bank Ltd. | 6,400 | 79,308 | ||||||
TOMONY Holdings, Inc. | 12,800 | 61,043 | ||||||
Tsukuba Bank Ltd. | 18,200 | 65,209 | ||||||
1,119,837 | ||||||||
Capital Goods 3.7% | ||||||||
Aica Kogyo Co., Ltd. | 21,600 | 301,023 | ||||||
Amano Corp. | 6,800 | 62,337 | ||||||
Asahi Diamond Industrial Co., Ltd. | 6,800 | 91,238 | ||||||
Central Glass Co., Ltd. | 64,000 | 290,981 | ||||||
Daifuku Co., Ltd. | 36,000 | 209,933 | ||||||
Futaba Corp. | 14,400 | 242,313 | ||||||
Hanwa Co., Ltd. | 72,000 | 337,139 | ||||||
Hitachi Zosen Corp. | 170,000 | 228,935 | ||||||
Inaba Denki Sangyo Co., Ltd. | 7,200 | 216,338 | ||||||
Iseki & Co., Ltd. *(a) | 68,000 | 169,706 | ||||||
Iwatani Corp. | 72,000 | 247,294 | ||||||
Kyowa Exeo Corp. | 21,600 | 198,547 | ||||||
Maeda Corp. | 64,000 | 253,818 | ||||||
Meidensha Corp. | 72,000 | 272,202 | ||||||
Mirait Holdings Corp. | 12,800 | 98,364 | ||||||
Miura Co., Ltd. | 6,800 | 186,508 | ||||||
Nachi-Fujikoshi Corp. | 11,000 | 60,749 | ||||||
Nichias Corp. | 19,000 | 105,868 | ||||||
Nitto Boseki Co., Ltd. | 64,000 | 217,445 | ||||||
Noritz Corp. | 14,400 | 269,177 | ||||||
Oiles Corp. | 14,400 | 275,760 | ||||||
Okumura Corp. | 72,000 | 285,545 | ||||||
OSG Corp. | 21,600 | 318,102 | ||||||
Penta-Ocean Construction Co., Ltd. (a) | 32,000 | 107,536 | ||||||
Sanwa Holdings Corp. | 72,000 | 252,632 | ||||||
SHO-BOND Holdings Co., Ltd. | 7,200 | 165,812 | ||||||
Sintokogio Ltd. | 28,800 | 297,465 | ||||||
Taikisha Ltd. | 6,400 | 128,569 | ||||||
Takasago Thermal Engineering Co., Ltd. | 12,800 | 104,374 | ||||||
Toyo Tanso Co., Ltd. (a) | 6,400 | 252,632 | ||||||
Tsubakimoto Chain Co. | 24,000 | 141,438 | ||||||
6,389,780 | ||||||||
Commercial & Professional Services 0.5% | ||||||||
Daiseki Co., Ltd. | 7,200 | 126,582 | ||||||
Duskin Co., Ltd. | 14,400 | 293,729 | ||||||
Meitec Corp. | 7,500 | 151,686 | ||||||
Mitsubishi Pencil Co., Ltd. | 14,400 | 246,405 | ||||||
818,402 | ||||||||
Consumer Durables & Apparel 0.7% | ||||||||
JVC Kenwood Corp. *(a) | 11,600 | 54,030 | ||||||
Mizuno Corp. | 39,000 | 211,045 | ||||||
Pioneer Corp. * | 65,300 | 334,810 | ||||||
Sangetsu Co., Ltd. | 7,200 | 188,318 | ||||||
Seiko Holdings Corp. | 18,000 | 39,807 | ||||||
Tamron Co., Ltd. | 6,400 | 187,240 | ||||||
Tomy Co., Ltd. | 28,800 | 204,240 | ||||||
1,219,490 | ||||||||
Consumer Services 0.5% | ||||||||
Accordia Golf Co., Ltd. | 310 | 237,843 | ||||||
Colowide Co., Ltd. (a) | 8,000 | 59,797 | ||||||
Doutor Nichires Holdings Co., Ltd. | 19,200 | 247,413 | ||||||
HIS Co., Ltd. | 1,600 | 42,066 | ||||||
Saizeriya Co., Ltd. (a) | 15,500 | 241,481 | ||||||
828,600 | ||||||||
Diversified Financials 0.4% | ||||||||
Aiful Corp. * | 56,350 | 98,164 | ||||||
Fuyo General Lease Co., Ltd. | 7,200 | 258,414 | ||||||
IBJ Leasing Co., Ltd. | 7,200 | 167,502 | ||||||
Jaccs Co., Ltd. | 14,000 | 47,912 | ||||||
Japan Securities Finance Co., Ltd. | 12,800 | 77,900 | ||||||
Orient Corp. * | 41,000 | 44,576 | ||||||
694,468 | ||||||||
Energy 0.1% | ||||||||
Itochu Enex Co., Ltd. | 6,400 | 37,875 | ||||||
Shinko Plantech Co., Ltd. | 6,400 | 56,457 | ||||||
94,332 | ||||||||
Food & Staples Retailing 0.3% | ||||||||
Ain Pharmaciez, Inc. | 1,400 | 63,566 | ||||||
Cocokara fine, Inc. | 6,400 | 180,914 |
See financial notes 41
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Izumiya Co., Ltd. (a) | 23,000 | 116,222 | ||||||
Ministop Co., Ltd. | 2,600 | 47,188 | ||||||
Okuwa Co., Ltd. | 4,000 | 56,684 | ||||||
Valor Co., Ltd. | 2,600 | 38,772 | ||||||
503,346 | ||||||||
Food, Beverage & Tobacco 0.8% | ||||||||
Fuji Oil Co., Ltd. | 19,200 | 264,967 | ||||||
Fujiya Co., Ltd. *(a) | 64,000 | 133,630 | ||||||
Hokuto Corp. | 6,400 | 136,397 | ||||||
Megmilk Snow Brand Co., Ltd. | 6,400 | 115,206 | ||||||
Morinaga Milk Industry Co., Ltd. | 72,000 | 267,754 | ||||||
Nippon Suisan Kaisha Ltd. | 19,200 | 66,708 | ||||||
The Nisshin Oillio Group Ltd. | 68,000 | 285,644 | ||||||
Yonekyu Corp. | 19,200 | 175,063 | ||||||
1,445,369 | ||||||||
Health Care Equipment & Services 0.4% | ||||||||
Nikkiso Co., Ltd. | 5,000 | 46,948 | ||||||
Ship Healthcare Holdings, Inc. | 12,800 | 248,125 | ||||||
Toho Holdings Co., Ltd. | 21,000 | 323,795 | ||||||
618,868 | ||||||||
Household & Personal Products 0.3% | ||||||||
Aderans Co., Ltd. * | 8,100 | 98,073 | ||||||
Fancl Corp. | 13,600 | 179,955 | ||||||
Mandom Corp. | 7,200 | 177,821 | ||||||
455,849 | ||||||||
Materials 2.0% | ||||||||
Adeka Corp. | 21,600 | 207,887 | ||||||
Earth Chemical Co., Ltd. | 6,400 | 225,906 | ||||||
Kureha Corp. | 64,000 | 319,446 | ||||||
Kyoei Steel Ltd. | 6,400 | 114,811 | ||||||
Nifco, Inc. | 6,400 | 173,561 | ||||||
Nippon Light Metal Co., Ltd. | 144,000 | 220,608 | ||||||
Nippon Soda Co., Ltd. | 64,000 | 290,190 | ||||||
NOF Corp. | 64,000 | 316,284 | ||||||
Sanyo Special Steel Co., Ltd. | 30,000 | 160,119 | ||||||
Sumitomo Light Metal Industries Ltd. * | 64,000 | 66,420 | ||||||
Toagosei Co., Ltd. | 72,000 | 321,127 | ||||||
Tokyo Ohka Kogyo Co., Ltd. | 14,400 | 330,200 | ||||||
Toyo Ink SC Holdings Co., Ltd. | 72,000 | 297,998 | ||||||
Yodogawa Steel Works Ltd. | 64,000 | 287,027 | ||||||
3,331,584 | ||||||||
Media 0.3% | ||||||||
Avex Group Holdings, Inc. | 6,400 | 78,122 | ||||||
Kadokawa Group Holdings, Inc. (a) | 6,400 | 201,156 | ||||||
Shochiku Co., Ltd. (a) | 20,000 | 187,794 | ||||||
467,072 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
KYORIN Holdings, Inc. | 5,000 | 88,893 | ||||||
Nichi-iko Pharmaceutical Co., Ltd. | 7,200 | 156,827 | ||||||
Seikagaku Corp. | 14,800 | 166,761 | ||||||
412,481 | ||||||||
Real Estate 0.1% | ||||||||
Daibiru Corp. | 6,400 | 45,611 | ||||||
Kenedix, Inc. * | 332 | 60,871 | ||||||
Leopalace21 Corp. *(a) | 30,100 | 73,632 | ||||||
TOC Co., Ltd. | 12,800 | 66,420 | ||||||
246,534 | ||||||||
Retailing 0.5% | ||||||||
AOKI Holdings, Inc. | 2,600 | 42,370 | ||||||
Arc Land Sakamoto Co., Ltd. | 2,400 | 40,889 | ||||||
Daiei, Inc. * | 17,450 | 62,306 | ||||||
DCM Holdings Co., Ltd. | 6,400 | 45,861 | ||||||
EDION Corp. | 12,800 | 93,145 | ||||||
Gulliver International Co., Ltd. (a) | 940 | 36,757 | ||||||
Megane TOP Co., Ltd. | 4,600 | 46,773 | ||||||
Nissen Holdings Co., Ltd. | 7,500 | 37,250 | ||||||
Tsutsumi Jewelry Co., Ltd. | 6,400 | 168,105 | ||||||
Xebio Co., Ltd. | 6,400 | 152,291 | ||||||
Yellow Hat Ltd. | 6,400 | 97,811 | ||||||
823,558 | ||||||||
Semiconductors & Semiconductor Equipment 0.0% | ||||||||
Sanken Electric Co., Ltd. (a) | 14,000 | 62,960 | ||||||
Software & Services 0.4% | ||||||||
Fuji Soft, Inc. | 19,200 | 372,899 | ||||||
GMO internet, Inc. | 11,000 | 52,866 | ||||||
Ines Corp. | 7,800 | 62,061 | ||||||
IT Holdings Corp. | 6,400 | 72,745 | ||||||
SCSK Corp. | 6,400 | 98,443 | ||||||
Transcosmos, Inc. | 3,800 | 48,310 | ||||||
707,324 | ||||||||
Technology Hardware & Equipment 0.8% | ||||||||
Anritsu Corp. (a) | 7,000 | 84,667 | ||||||
Canon Electronics, Inc. | 6,400 | 158,458 | ||||||
Daiwabo Holdings Co., Ltd. | 64,000 | 144,700 | ||||||
Horiba Ltd. | 7,200 | 230,037 | ||||||
Hosiden Corp. | 24,400 | 189,014 | ||||||
Nichicon Corp. | 23,200 | 286,632 | ||||||
Nippon Chemi-Con Corp. | 12,000 | 50,111 | ||||||
Riso Kagaku Corp. | 2,600 | 41,599 | ||||||
Ryosan Co., Ltd. | 7,200 | 148,021 | ||||||
Star Micronics Co., Ltd. | 6,400 | 63,810 | ||||||
V Technology Co., Ltd. (a) | 8 | 31,332 | ||||||
1,428,381 | ||||||||
Transportation 0.4% | ||||||||
Japan Airport Terminal Co., Ltd. | 8,100 | 108,680 | ||||||
Sankyu, Inc. | 64,000 | 250,655 | ||||||
The Sumitomo Warehouse Co., Ltd. | 64,000 | 315,493 | ||||||
674,828 | ||||||||
Utilities 0.0% | ||||||||
Okinawa Electric Power Co., Inc. | 1,100 | 45,731 | ||||||
23,689,567 | ||||||||
Jersey 0.1% | ||||||||
Insurance 0.1% | ||||||||
Phoenix Group Holdings | 10,325 | 90,715 | ||||||
Liechtenstein 0.0% | ||||||||
Banks 0.0% | ||||||||
Liechtensteinische Landesbank AG | 1,646 | 75,188 | ||||||
Luxembourg 0.2% | ||||||||
Commercial & Professional Services 0.1% | ||||||||
Regus plc | 109,255 | 193,204 |
42 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Real Estate 0.1% | ||||||||
GAGFAH S.A. | 12,674 | 71,919 | ||||||
265,123 | ||||||||
Netherlands 2.0% | ||||||||
Capital Goods 0.4% | ||||||||
Aalberts Industries N.V. | 9,600 | 195,069 | ||||||
Arcadis N.V. | 7,069 | 129,077 | ||||||
Imtech N.V. | 9,665 | 325,096 | ||||||
Koninklijke BAM Groep N.V. | 28,462 | 135,123 | ||||||
784,365 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
Koninklijke Ten Cate N.V. | 4,305 | 140,630 | ||||||
Diversified Financials 0.1% | ||||||||
BinckBank N.V. | 11,023 | 123,420 | ||||||
SNS REAAL N.V. * | 24,004 | 68,073 | ||||||
191,493 | ||||||||
Energy 0.0% | ||||||||
Dockwise Ltd. * | 3,200 | 67,077 | ||||||
Food & Staples Retailing 0.1% | ||||||||
Sligro Food Group N.V. | 4,655 | 144,684 | ||||||
Food, Beverage & Tobacco 0.3% | ||||||||
CSM N.V. | 9,497 | 179,509 | ||||||
Nutreco Holding N.V. | 4,655 | 350,331 | ||||||
529,840 | ||||||||
Health Care Equipment & Services 0.1% | ||||||||
Mediq N.V. | 7,040 | 114,751 | ||||||
Insurance 0.1% | ||||||||
Delta Lloyd N.V. | 9,600 | 178,824 | ||||||
Real Estate 0.4% | ||||||||
Eurocommercial Properties N.V. | 5,763 | 208,186 | ||||||
Nieuwe Steen Investments N.V. | 7,616 | 90,377 | ||||||
VastNed Retail N.V. | 3,009 | 135,043 | ||||||
Wereldhave N.V. | 2,458 | 184,461 | ||||||
618,067 | ||||||||
Semiconductors & Semiconductor Equipment 0.2% | ||||||||
ASM International N.V. | 7,844 | 295,271 | ||||||
Software & Services 0.1% | ||||||||
Unit 4 N.V. | 4,780 | 136,037 | ||||||
Technology Hardware & Equipment 0.1% | ||||||||
TKH Group N.V. | 6,704 | 157,073 | ||||||
3,358,112 | ||||||||
New Zealand 0.2% | ||||||||
Insurance 0.0% | ||||||||
TOWER Ltd. | 28,800 | 37,641 | ||||||
Real Estate 0.1% | ||||||||
AMP NZ Office Ltd. | 64,000 | 46,949 | ||||||
Goodman Property Trust | 154,834 | 130,556 | ||||||
177,505 | ||||||||
Utilities 0.1% | ||||||||
Infratil Ltd. | 108,564 | 169,351 | ||||||
384,497 | ||||||||
Nigeria 0.0% | ||||||||
Energy 0.0% | ||||||||
Maurel & Prom Nigeria * | 16,083 | 44,104 | ||||||
Norway 2.0% | ||||||||
Banks 0.1% | ||||||||
Sparebanken 1 SMN (a) | 15,083 | 111,269 | ||||||
Commercial & Professional Services 0.1% | ||||||||
Tomra Systems A.S.A. | 31,263 | 261,568 | ||||||
Energy 1.0% | ||||||||
BW Offshore Ltd. | 67,178 | 99,115 | ||||||
DNO International A.S.A. *(a) | 148,800 | 280,318 | ||||||
Fred. Olsen Energy A.S.A. | 3,767 | 159,281 | ||||||
Petroleum Geo-Services A.S.A. * | 27,937 | 428,273 | ||||||
Prosafe SE | 30,223 | 266,462 | ||||||
Songa Offshore SE * | 19,264 | 79,375 | ||||||
TGS Nopec Geophysical Co. A.S.A. | 13,434 | 390,372 | ||||||
1,703,196 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Cermaq A.S.A. * | 8,000 | 113,067 | ||||||
Marine Harvest | 231,848 | 125,149 | ||||||
238,216 | ||||||||
Materials 0.0% | ||||||||
Norske Skogindustrier A.S.A. * | 20,800 | 22,156 | ||||||
Media 0.2% | ||||||||
Schibsted A.S.A. | 9,262 | 305,803 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Algeta A.S.A. * | 5,900 | 162,528 | ||||||
Real Estate 0.1% | ||||||||
Norwegian Property A.S.A. | 75,548 | 112,688 | ||||||
Retailing 0.1% | ||||||||
Statoil Fuel & Retail A.S.A. * | 25,600 | 168,125 | ||||||
Semiconductors & Semiconductor Equipment 0.1% | ||||||||
Nordic Semiconductor A.S.A. (a) | 26,485 | 88,637 | ||||||
Renewable Energy Corp. A.S.A. *(a) | 36,886 | 27,423 | ||||||
116,060 | ||||||||
Software & Services 0.1% | ||||||||
Atea A.S.A. | 15,083 | 180,472 | ||||||
3,382,081 | ||||||||
Portugal 0.2% | ||||||||
Capital Goods 0.1% | ||||||||
Sonae | 142,899 | 87,741 | ||||||
Materials 0.0% | ||||||||
Portucel-Empresa Produtora de Pasta e Papel S.A. * | 23,915 | 64,366 | ||||||
Media 0.1% | ||||||||
Zon Multimedia Servicos de Telecomunicacoes e Multimedia, SGPS, S.A. | 57,767 | 180,050 | ||||||
332,157 |
See financial notes 43
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Republic of Korea 4.3% | ||||||||
Automobiles & Components 0.3% | ||||||||
Mando Corp. | 1,681 | 252,437 | ||||||
Nexen Tire Corp. | 4,130 | 59,621 | ||||||
S&T Daewoo Co., Ltd. | 600 | 16,546 | ||||||
Ssangyong Motor Co. * | 17,700 | 112,808 | ||||||
441,412 | ||||||||
Banks 0.4% | ||||||||
Jeonbuk Bank | 18,054 | 82,304 | ||||||
KB Financial Group, Inc. ADR | 7,590 | 279,692 | ||||||
Shinhan Financial Group Co., Ltd. ADR | 3,755 | 291,613 | ||||||
653,609 | ||||||||
Capital Goods 0.3% | ||||||||
Hyundai Elevator Co., Ltd. | 637 | 76,869 | ||||||
LG International Corp. | 4,340 | 228,885 | ||||||
LS Industrial Systems Co., Ltd. | 976 | 59,586 | ||||||
Sung Kwang Bend Co., Ltd. | 1,300 | 28,005 | ||||||
Taihan Electric Wire Co., Ltd. * | 14,120 | 44,365 | ||||||
437,710 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
LG Fashion Corp. | 2,000 | 75,085 | ||||||
Youngone Holdings Co., Ltd. | 1,180 | 58,751 | ||||||
133,836 | ||||||||
Consumer Services 0.2% | ||||||||
Hana Tour Service, Inc. | 2,970 | 113,095 | ||||||
Hotel Shilla Co., Ltd. | 7,420 | 281,883 | ||||||
394,978 | ||||||||
Diversified Financials 0.2% | ||||||||
Macquarie Korea Infrastructure Fund | 59,000 | 283,734 | ||||||
Tong Yang Securities, Inc. | 23,520 | 113,529 | ||||||
397,263 | ||||||||
Energy 0.1% | ||||||||
SK Gas Co., Ltd. | 2,360 | 147,035 | ||||||
Food, Beverage & Tobacco 0.4% | ||||||||
Binggrae Co., Ltd. | 960 | 50,972 | ||||||
CNK International Co., Ltd. * | 5,900 | 15,321 | ||||||
Daesang Corp. | 14,040 | 181,347 | ||||||
ORION Corp. | 510 | 323,672 | ||||||
Samyang Corp. | 2,279 | 128,089 | ||||||
699,401 | ||||||||
Health Care Equipment & Services 0.0% | ||||||||
Chabio & Diostech Co., Ltd. * | 6,400 | 64,931 | ||||||
Insurance 0.4% | ||||||||
Hanwha General Insurance Co., Ltd. * | 3,400 | 21,761 | ||||||
Hyundai Marine & Fire Insurance Co., Ltd. | 9,150 | 264,180 | ||||||
Korean Reinsurance Co. | 15,000 | 195,088 | ||||||
Meritz Fire & Marine Insurance Co., Ltd. | 19,082 | 214,064 | ||||||
695,093 | ||||||||
Materials 0.8% | ||||||||
Capro Corp. | 2,950 | 70,538 | ||||||
Kolon Industries, Inc. | 1,920 | 124,599 | ||||||
Korea Kumho Petrochemical Co., Ltd. | 1,871 | 261,737 | ||||||
OCI Materials Co., Ltd. | 1,706 | 117,879 | ||||||
Poongsan Corp. | 4,450 | 134,845 | ||||||
Seah Besteel Corp. | 5,890 | 255,349 | ||||||
SK Chemicals Co., Ltd. | 5,070 | 315,876 | ||||||
Taekwang Industrial Co., Ltd. | 57 | 66,745 | ||||||
Young Poong Corp. | 50 | 57,253 | ||||||
1,404,821 | ||||||||
Media 0.1% | ||||||||
CJ CGV Co., Ltd. | 2,000 | 45,945 | ||||||
CJ E&M Corp. * | 1,500 | 41,565 | ||||||
87,510 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
Dong-A Pharmaceutical Co., Ltd. | 3,000 | 227,938 | ||||||
Green Cross Corp. | 400 | 45,409 | ||||||
273,347 | ||||||||
Retailing 0.2% | ||||||||
CJ O Shopping Co., Ltd. | 408 | 103,210 | ||||||
Dongsuh Cos., Inc. | 800 | 24,206 | ||||||
GS Home Shopping, Inc. | 448 | 48,095 | ||||||
Hyundai Greenfood Co. Ltd. | 7,400 | 95,913 | ||||||
Hyundai Home Shopping Network Corp. | 1,000 | 129,612 | ||||||
401,036 | ||||||||
Semiconductors & Semiconductor Equipment 0.2% | ||||||||
Seoul Semiconductor Co., Ltd. | 11,280 | 266,693 | ||||||
Technology Hardware & Equipment 0.3% | ||||||||
Daeduck Electronics Co., Ltd. | 7,650 | 84,793 | ||||||
LG Innotek Co., Ltd. * | 2,750 | 235,737 | ||||||
SFA Engineering Corp. | 3,210 | 175,604 | ||||||
496,134 | ||||||||
Telecommunication Services 0.1% | ||||||||
SK Broadband Co., Ltd. * | 59,000 | 187,750 | ||||||
Transportation 0.0% | ||||||||
Asiana Airlines, Inc. * | 12,280 | 80,131 | ||||||
Utilities 0.0% | ||||||||
Samchully Co., Ltd. | 590 | 54,057 | ||||||
7,316,747 | ||||||||
Singapore 1.7% | ||||||||
Capital Goods 0.0% | ||||||||
Gallant Venture Ltd. * | 128,000 | 30,795 | ||||||
Commercial & Professional Services 0.0% | ||||||||
Cape plc | 6,732 | 46,995 | ||||||
Energy 0.3% | ||||||||
Ezra Holdings Ltd. *(a) | 144,000 | 144,352 | ||||||
Sakari Resources Ltd. | 144,000 | 307,182 | ||||||
451,534 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
GMG Global Ltd. | 1,034,000 | 123,554 | ||||||
Health Care Equipment & Services 0.1% | ||||||||
Biosensors International Group Ltd. * | 79,000 | 92,498 | ||||||
Raffles Medical Group Ltd. | 68,000 | 127,062 | ||||||
219,560 | ||||||||
Real Estate 0.6% | ||||||||
CDL Hospitality Trusts (a) | 144,000 | 198,051 | ||||||
Lippo Malls Indonesia Retail Trust | 192,000 | 60,821 |
44 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Mapletree Logistics Trust | 384,000 | 277,156 | ||||||
Parkway Life Real Estate Investment Trust | 64,000 | 91,872 | ||||||
Suntec Real Estate Investment Trust | 420,000 | 414,291 | ||||||
1,042,191 | ||||||||
Software & Services 0.0% | ||||||||
CSE Global Ltd. | 64,000 | 44,910 | ||||||
Technology Hardware & Equipment 0.1% | ||||||||
LionGold Corp., Ltd. *(a) | 204,000 | 145,603 | ||||||
Transportation 0.3% | ||||||||
Goodpack Ltd. | 77,000 | 84,907 | ||||||
SATS Ltd. | 192,000 | 374,161 | ||||||
459,068 | ||||||||
Utilities 0.2% | ||||||||
Cityspring Infrastructure Trust | 128,000 | 37,468 | ||||||
Hyflux Ltd. (a) | 192,000 | 225,574 | ||||||
263,042 | ||||||||
2,827,252 | ||||||||
Spain 1.5% | ||||||||
Capital Goods 0.4% | ||||||||
Abengoa S.A. (a) | 6,037 | 127,192 | ||||||
Construcciones y Auxiliar de Ferrocarriles S.A. | 476 | 256,958 | ||||||
Gamesa Corporacion Tecnologica S.A. (a) | 17,124 | 54,656 | ||||||
Obrascon Huarte Lain S.A. | 9,108 | 281,872 | ||||||
Sacyr Vallehermoso S.A. (a) | 20,086 | 80,607 | ||||||
801,285 | ||||||||
Commercial & Professional Services 0.1% | ||||||||
Prosegur, Compania de Seguridad S.A. - Reg’d | 3,075 | 155,076 | ||||||
Consumer Services 0.1% | ||||||||
Melia Hotels International S.A. (a) | 13,048 | 91,024 | ||||||
NH Hoteles S.A. *(a) | 25,600 | 80,476 | ||||||
171,500 | ||||||||
Diversified Financials 0.1% | ||||||||
Bolsas y Mercados Espanoles | 6,400 | 171,525 | ||||||
Energy 0.1% | ||||||||
Tecnicas Reunidas S.A. (a) | 4,184 | 169,195 | ||||||
Food, Beverage & Tobacco 0.2% | ||||||||
Ebro Foods S.A. | 12,818 | 258,657 | ||||||
Viscofan S.A. | 3,767 | 156,968 | ||||||
415,625 | ||||||||
Insurance 0.1% | ||||||||
Grupo Catalana Occidente S.A. | 8,139 | 142,627 | ||||||
Materials 0.1% | ||||||||
Grupo Empresarial Ence S.A. | 29,604 | 77,817 | ||||||
Tubacex S.A. *(a) | 28,025 | 78,727 | ||||||
156,544 | ||||||||
Media 0.1% | ||||||||
Antena 3 de Television S.A. (a) | 11,983 | 72,134 | ||||||
Promotora de Informaciones S.A., A Shares *(a) | 71,121 | 64,694 | ||||||
136,828 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
Almirall S.A. | 7,616 | 65,305 | ||||||
Faes Farma S.A. | 52,114 | 109,449 | ||||||
Zeltia S.A. *(a) | 48,606 | 119,637 | ||||||
294,391 | ||||||||
2,614,596 | ||||||||
Sweden 2.5% | ||||||||
Capital Goods 0.5% | ||||||||
Lindab International AB | 9,952 | 84,148 | ||||||
NCC AB, B Shares | 9,998 | 223,810 | ||||||
Peab AB | 27,032 | 153,665 | ||||||
Trelleborg AB, B Shares | 31,183 | 336,456 | ||||||
798,079 | ||||||||
Commercial & Professional Services 0.1% | ||||||||
Intrum Justitia AB | 3,200 | 51,341 | ||||||
Loomis AB, B Shares | 11,049 | 160,046 | ||||||
211,387 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
JM AB | 8,681 | 159,080 | ||||||
Consumer Services 0.2% | ||||||||
Betsson AB * | 4,560 | 128,984 | ||||||
Rezidor Hotel Group AB * | 30,732 | 116,839 | ||||||
SkiStar AB | 3,834 | 50,435 | ||||||
296,258 | ||||||||
Diversified Financials 0.3% | ||||||||
Avanza Bank Holding AB | 5,562 | 159,018 | ||||||
Investment AB Oresund | 4,480 | 73,751 | ||||||
L E Lundbergforetagen AB, B Shares | 5,706 | 198,799 | ||||||
431,568 | ||||||||
Food & Staples Retailing 0.2% | ||||||||
Axfood AB | 5,568 | 211,011 | ||||||
Hakon Invest AB | 5,480 | 95,671 | ||||||
306,682 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
AarhusKarlshamn AB | 7,728 | 250,325 | ||||||
Materials 0.1% | ||||||||
Billerud | 10,250 | 94,695 | ||||||
Hoganas AB, B Shares | 3,755 | 146,758 | ||||||
241,453 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Meda AB, A Shares | 22,924 | 217,886 | ||||||
Real Estate 0.6% | ||||||||
Castellum AB | 22,790 | 301,870 | ||||||
Fabege AB | 19,200 | 173,731 | ||||||
Hufvudstaden AB, A Shares | 16,009 | 178,819 | ||||||
Kungsleden AB | 23,188 | 174,200 | ||||||
Wallenstam AB, B Shares | 12,800 | 131,003 | ||||||
Wihlborgs Fastigheter AB | 7,966 | 110,846 | ||||||
1,070,469 | ||||||||
Retailing 0.1% | ||||||||
Clas Ohlson AB, B Shares | 142 | 2,014 | ||||||
Mekonomen AB | 2,688 | 93,201 | ||||||
95,215 |
See financial notes 45
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Technology Hardware & Equipment 0.1% | ||||||||
Axis Communications AB | 5,465 | 155,829 | ||||||
4,234,231 | ||||||||
Switzerland 3.2% | ||||||||
Automobiles & Components 0.1% | ||||||||
Rieter Holding AG - Reg’d * | 748 | 155,188 | ||||||
Banks 0.3% | ||||||||
Basler Kantonalbank | 680 | 83,787 | ||||||
St. Galler Kantonalbank AG - Reg’d | 340 | 137,759 | ||||||
Valiant Holding AG - Reg’d | 2,050 | 256,236 | ||||||
477,782 | ||||||||
Capital Goods 0.9% | ||||||||
Belimo Holding AG - Reg’d | 72 | 143,065 | ||||||
Bucher Industries AG - Reg’d | 1,280 | 273,804 | ||||||
Georg Fischer AG - Reg’d * | 680 | 324,393 | ||||||
Huber & Suhner AG - Reg’d | 3,369 | 174,649 | ||||||
Kaba Holding AG, B Shares - Reg’d | 680 | 277,027 | ||||||
Meyer Burger Technology AG *(a) | 5,202 | 92,393 | ||||||
OC Oerlikon Corp. AG - Reg’d * | 29,071 | 221,054 | ||||||
Schweiter Technologies AG | 144 | 89,595 | ||||||
1,595,980 | ||||||||
Consumer Durables & Apparel 0.2% | ||||||||
Forbo Holding AG - Reg’d * | 476 | 317,562 | ||||||
Consumer Services 0.1% | ||||||||
Kuoni Reisen Holding AG - Reg’d * | 408 | 130,437 | ||||||
Diversified Financials 0.2% | ||||||||
Bank Sarasin & Cie AG, B Shares - Reg’d | 5,418 | 168,702 | ||||||
Vontobel Holding AG - Reg’d | 4,967 | 127,090 | ||||||
295,792 | ||||||||
Health Care Equipment & Services 0.2% | ||||||||
Galenica AG - Reg’d | 576 | 354,226 | ||||||
Insurance 0.2% | ||||||||
Helvetia Holding AG - Reg’d | 816 | 288,954 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Tecan Group AG - Reg’d * | 1,867 | 152,535 | ||||||
Real Estate 0.2% | ||||||||
Allreal Holding AG - Reg’d * | 1,104 | 177,944 | ||||||
Mobimo Holding AG - Reg’d * | 960 | 231,248 | ||||||
409,192 | ||||||||
Retailing 0.2% | ||||||||
Dufry AG - Reg’d * | 2,298 | 279,071 | ||||||
Valora Holding AG - Reg’d | 408 | 106,025 | ||||||
385,096 | ||||||||
Software & Services 0.1% | ||||||||
Temenos Group AG - Reg’d *(a) | 6,632 | 130,674 | ||||||
Technology Hardware & Equipment 0.2% | ||||||||
Ascom Holding AG - Reg’d | 5,624 | 58,684 | ||||||
Kudelski S.A. | 4,750 | 36,910 | ||||||
Logitech International S.A. - Reg’d *(a) | 22,726 | 194,250 | ||||||
289,844 | ||||||||
Transportation 0.2% | ||||||||
Flughafen Zuerich AG - Reg’d | 408 | 158,517 | ||||||
Panalpina Welttransport Holding AG - Reg’d * | 2,458 | 298,775 | ||||||
457,292 | ||||||||
5,440,554 | ||||||||
United Arab Emirates 0.1% | ||||||||
Energy 0.1% | ||||||||
Lamprell plc | 17,080 | 92,767 | ||||||
United Kingdom 17.3% | ||||||||
Banks 0.1% | ||||||||
Paragon Group Cos. plc | 51,981 | 154,781 | ||||||
Capital Goods 2.2% | ||||||||
Ashtead Group plc | 67,200 | 265,151 | ||||||
Balfour Beatty plc | 70,114 | 311,258 | ||||||
Bodycote plc | 23,192 | 155,602 | ||||||
Carillion plc | 50,186 | 260,551 | ||||||
Chemring Group plc | 21,826 | 152,992 | ||||||
Cookson Group plc | 34,196 | 369,001 | ||||||
Fenner plc | 22,144 | 167,354 | ||||||
Kier Group plc | 4,480 | 88,384 | ||||||
Melrose plc | 46,452 | 289,992 | ||||||
Morgan Crucible Co. plc | 31,360 | 177,090 | ||||||
Qinetiq Group plc | 78,897 | 190,437 | ||||||
Senior plc | 64,000 | 199,975 | ||||||
SIG plc | 90,688 | 168,628 | ||||||
Spirax-Sarco Engineering plc | 10,386 | 340,947 | ||||||
Travis Perkins plc | 25,600 | 439,209 | ||||||
Ultra Electronics Holdings plc | 8,681 | 233,805 | ||||||
3,810,376 | ||||||||
Commercial & Professional Services 1.2% | ||||||||
Babcock International Group plc | 28,800 | 346,429 | ||||||
Berendsen plc | 27,104 | 218,651 | ||||||
De La Rue plc | 13,667 | 207,953 | ||||||
Homeserve plc | 40,776 | 144,996 | ||||||
ITE Group plc | 49,097 | 179,212 | ||||||
Michael Page International plc | 42,123 | 305,225 | ||||||
Mitie Group plc | 53,195 | 226,037 | ||||||
RPS Group plc | 40,046 | 144,703 | ||||||
Shanks Group plc | 22,786 | 38,256 | ||||||
Sthree plc | 12,800 | 58,531 | ||||||
WS Atkins plc | 17,439 | 210,049 | ||||||
2,080,042 | ||||||||
Consumer Durables & Apparel 1.1% | ||||||||
Barratt Developments plc * | 138,287 | 325,174 | ||||||
Bellway plc | 18,242 | 237,788 | ||||||
Bovis Homes Group plc | 15,817 | 127,724 | ||||||
Pace plc | 42,316 | 59,993 | ||||||
Persimmon plc | 35,200 | 379,835 | ||||||
Redrow plc * | 55,839 | 112,838 | ||||||
Taylor Wimpey plc * | 467,499 | 371,088 | ||||||
The Berkeley Group Holdings plc * | 11,588 | 256,936 | ||||||
1,871,376 | ||||||||
Consumer Services 0.9% | ||||||||
Bwin.Party Digital Entertainment plc | 39,982 | 101,233 | ||||||
Dignity plc | 9,105 | 120,504 | ||||||
Domino’s Pizza UK & IRL plc | 18,490 | 131,114 | ||||||
Greene King plc | 30,367 | 243,761 |
46 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
J.D. Wetherspoon plc | 20,232 | 129,796 | ||||||
Marston’s plc | 98,755 | 154,443 | ||||||
Millennium & Copthorne Hotels plc | 24,690 | 190,855 | ||||||
Mitchells & Butlers plc * | 51,619 | 216,454 | ||||||
Rank Group plc | 32,000 | 70,339 | ||||||
Restaurant Group plc | 31,111 | 137,962 | ||||||
Sportingbet plc | 37,347 | 22,671 | ||||||
1,519,132 | ||||||||
Diversified Financials 1.3% | ||||||||
Aberdeen Asset Management plc | 118,400 | 455,255 | ||||||
Close Brothers Group plc | 17,511 | 206,300 | ||||||
F&C Asset Management plc | 103,976 | 117,513 | ||||||
Henderson Group plc | 81,604 | 155,387 | ||||||
IG Group Holdings plc | 40,712 | 287,717 | ||||||
Intermediate Capital Group plc | 57,111 | 246,965 | ||||||
International Personal Finance | 44,073 | 174,392 | ||||||
Provident Financial plc | 16,000 | 288,819 | ||||||
Rathbone Brothers plc | 9,497 | 187,968 | ||||||
Tullett Prebon plc | 30,223 | 154,833 | ||||||
2,275,149 | ||||||||
Energy 1.0% | ||||||||
Afren plc * | 137,506 | 293,903 | ||||||
Bumi plc * | 13,760 | 171,891 | ||||||
Enquest plc * | 90,688 | 183,694 | ||||||
Heritage Oil plc *(a) | 21,576 | 62,936 | ||||||
Hunting plc | 20,774 | 273,116 | ||||||
Premier Oil plc * | 53,273 | 374,955 | ||||||
Salamander Energy plc * | 27,795 | 109,049 | ||||||
SOCO International plc * | 44,443 | 239,823 | ||||||
1,709,367 | ||||||||
Food & Staples Retailing 0.1% | ||||||||
Booker Group plc | 136,675 | 163,858 | ||||||
Food, Beverage & Tobacco 0.5% | ||||||||
Britvic plc | 36,711 | 222,730 | ||||||
Cranswick plc | 12,074 | 150,540 | ||||||
Dairy Crest Group plc | 31,653 | 163,119 | ||||||
Devro plc | 40,555 | 203,618 | ||||||
Greggs plc | 17,280 | 150,993 | ||||||
891,000 | ||||||||
Household & Personal Products 0.1% | ||||||||
McBride plc * | 27,411 | 55,282 | ||||||
PZ Cussons plc | 26,667 | 132,057 | ||||||
187,339 | ||||||||
Insurance 1.0% | ||||||||
Amlin plc | 55,604 | 312,130 | ||||||
Beazley plc | 92,843 | 212,383 | ||||||
Catlin Group Ltd. | 44,725 | 297,429 | ||||||
Hiscox Ltd. | 46,304 | 303,270 | ||||||
Jardine Lloyd Thompson Group plc | 18,797 | 210,791 | ||||||
Lancashire Holdings Ltd. | 20,672 | 252,787 | ||||||
St. James’s Place plc | 22,713 | 133,884 | ||||||
1,722,674 | ||||||||
Materials 1.5% | ||||||||
Aquarius Platinum Ltd. | 46,755 | 102,398 | ||||||
AZ Electronic Materials S.A. | 16,000 | 72,332 | ||||||
Croda International plc | 15,279 | 525,736 | ||||||
DS Smith plc | 140,312 | 377,454 | ||||||
Elementis plc | 15,880 | 42,110 | ||||||
Filtrona plc | 37,120 | 266,838 | ||||||
Hochschild Mining plc | 23,895 | 195,054 | ||||||
Mondi plc | 47,955 | 451,207 | ||||||
Petropavlovsk plc | 24,338 | 279,344 | ||||||
Victrex plc | 10,548 | 223,430 | ||||||
2,535,903 | ||||||||
Media 0.4% | ||||||||
Informa plc | 67,200 | 465,249 | ||||||
Rightmove plc | 6,400 | 147,834 | ||||||
UBM plc | 12,837 | 119,553 | ||||||
732,636 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||||||||
BTG plc * | 25,600 | 144,645 | ||||||
Genus plc | 7,465 | 163,133 | ||||||
Hikma Pharmaceuticals plc | 20,076 | 235,076 | ||||||
542,854 | ||||||||
Real Estate 1.0% | ||||||||
Atrium European Real Estate Ltd. | 27,555 | 131,591 | ||||||
Big Yellow Group plc | 23,116 | 107,087 | ||||||
Capital & Counties Properties plc | 77,813 | 236,548 | ||||||
Derwent London plc | 10,332 | 278,932 | ||||||
Grainger plc | 49,025 | 86,068 | ||||||
Great Portland Estates plc | 40,339 | 227,536 | ||||||
Helical Bar plc | 19,704 | 58,939 | ||||||
London & Stamford Property plc | 32,000 | 58,377 | ||||||
Savills plc | 22,190 | 128,710 | ||||||
Shaftesbury plc | 27,953 | 218,802 | ||||||
Unite Group plc | 26,341 | 77,845 | ||||||
1,610,435 | ||||||||
Retailing 1.0% | ||||||||
Carpetright plc *(a) | 7,141 | 75,745 | ||||||
Carphone Warehouse Group plc | 7,673 | 20,898 | ||||||
Debenhams plc | 200,135 | 235,943 | ||||||
Dixons Retail plc * | 286,711 | 68,380 | ||||||
Dunelm Group plc | 9,600 | 79,515 | ||||||
Halfords Group plc | 27,483 | 139,084 | ||||||
Home Retail Group plc | 75,101 | 122,369 | ||||||
Howden Joinery Group plc * | 86,400 | 160,379 | ||||||
Inchcape plc | 49,280 | 295,445 | ||||||
Kesa Electricals plc | 85,155 | 101,411 | ||||||
N Brown Group plc | 38,400 | 146,485 | ||||||
Ocado Group plc *(a) | 32,262 | 47,955 | ||||||
Sports Direct International plc * | 9,604 | 45,258 | ||||||
WH Smith plc | 15,360 | 130,536 | ||||||
1,669,403 | ||||||||
Semiconductors & Semiconductor Equipment 0.1% | ||||||||
CSR plc | 21,067 | 85,749 | ||||||
Software & Services 0.7% | ||||||||
Aveva Group plc | 7,796 | 213,332 | ||||||
Computacenter plc | 5,766 | 36,862 | ||||||
Fidessa Group plc | 6,253 | 165,815 | ||||||
Micro Focus International plc | 26,063 | 187,354 | ||||||
Misys plc * | 47,936 | 249,253 | ||||||
SDL plc | 6,400 | 72,588 | ||||||
Telecity Group plc * | 17,920 | 197,378 | ||||||
1,122,582 | ||||||||
Technology Hardware & Equipment 1.3% | ||||||||
Domino Printing Sciences plc | 10,930 | 114,451 |
See financial notes 47
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Electrocomponents plc | 58,605 | 226,089 | ||||||
Halma plc | 35,200 | 220,928 | ||||||
Imagination Technologies Group plc * | 24,320 | 239,122 | ||||||
Laird plc | 56,320 | 156,095 | ||||||
Oxford Instruments plc | 8,088 | 150,520 | ||||||
Premier Farnell plc | 57,600 | 200,681 | ||||||
Renishaw plc | 3,200 | 73,457 | ||||||
Rotork plc | 10,345 | 342,245 | ||||||
Spectris plc | 10,375 | 289,208 | ||||||
Spirent Communications plc | 90,688 | 204,121 | ||||||
2,216,917 | ||||||||
Telecommunication Services 0.3% | ||||||||
Cable & Wireless Communications plc | 153,028 | 84,704 | ||||||
Cable & Wireless Worldwide plc | 267,153 | 118,982 | ||||||
Colt Group S.A. * | 75,548 | 120,563 | ||||||
Kcom Group plc | 57,600 | 63,949 | ||||||
TalkTalk Telecom Group plc | 35,678 | 82,356 | ||||||
470,554 | ||||||||
Transportation 0.9% | ||||||||
BBA Aviation plc | 54,400 | 175,888 | ||||||
easyJet plc | 29,385 | 206,306 | ||||||
FirstGroup plc | 57,418 | 269,755 | ||||||
Go-Ahead Group plc | 9,046 | 185,400 | ||||||
National Express Group plc | 71,920 | 268,265 | ||||||
Stagecoach Group plc | 70,964 | 304,262 | ||||||
Stobart Group Ltd. | 75,548 | 148,321 | ||||||
1,558,197 | ||||||||
Utilities 0.3% | ||||||||
Pennon Group plc | 36,639 | 420,530 | ||||||
29,350,854 | ||||||||
United States 0.6% | ||||||||
Health Care Equipment & Services 0.3% | ||||||||
SXC Health Solutions Corp. * | 7,200 | 517,184 | ||||||
Materials 0.3% | ||||||||
Alacer Gold Corp. * | 38,600 | 374,263 | ||||||
Golden Star Resources Ltd. * | 28,800 | 57,895 | ||||||
Tahoe Resources, Inc. * | 6,400 | 137,233 | ||||||
569,391 | ||||||||
1,086,575 | ||||||||
Total Common Stock | ||||||||
(Cost $164,701,242) | 167,869,089 | |||||||
Preferred Stock 0.5% of net assets | ||||||||
Germany 0.5% | ||||||||
Capital Goods 0.1% | ||||||||
Jungheinrich AG | 1,841 | 64,646 | ||||||
Materials 0.2% | ||||||||
Fuchs Petrolub AG | 6,150 | 328,087 | ||||||
Media 0.2% | ||||||||
ProSiebenSat.1 Media AG | 12,763 | 333,010 | ||||||
725,743 | ||||||||
Italy 0.0% | ||||||||
Insurance 0.0% | ||||||||
Unipol Gruppo Finanziario S.p.A. *(a) | 164,250 | 36,627 | ||||||
Total Preferred Stock | ||||||||
(Cost $699,802) | 762,370 | |||||||
Rights 0.0% of net assets | ||||||||
Norway 0.0% | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||||||
Algeta A.S.A. *(c) | 264 | 480 | ||||||
Total Rights | ||||||||
(Cost $—) | 480 | |||||||
Other Investment Companies 0.3% of net assets | ||||||||
Guernsey 0.1% | ||||||||
F&C Commercial Property Trust Ltd. | 68,004 | 111,674 | ||||||
Switzerland 0.2% | ||||||||
BB Biotech AG - Reg’d * | 1,646 | 131,190 | ||||||
Schroder ImmoPLUS | 144 | 177,752 | ||||||
Swisscanto Real Estate Fund Ifca | 794 | 103,035 | ||||||
411,977 | ||||||||
United States 0.0% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 48,231 | 48,231 | ||||||
Total Other Investment Companies | ||||||||
(Cost $523,498) | 571,882 | |||||||
End of Investments | ||||||||
Collateral Invested for Securities on Loan 3.9% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 6,627,995 | 6,627,995 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $6,627,995) | 6,627,995 | |||||||
End of Collateral Invested for Securities on Loan |
48 See financial notes
Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
At 2/29/12, the tax basis cost of the fund’s investments was $165,936,353 and the unrealized appreciation and depreciation were $16,029,379 and ($12,761,911), respectively, with a net unrealized appreciation of $3,267,468.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Illiquid security. At the period end, the value of these amounted to $119,734 or 0.1% of net assets. | |
(c) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt | |
GO — | General obligation | |
Reg’d — | Registered | |
REIT — | Real Estate Investment Trust |
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $160,588,969 | $— | $— | $160,588,969 | ||||||||||||
China(a) | 1,270,815 | — | — | 1,270,815 | ||||||||||||
Capital Goods | 163,005 | — | 71,070 | 234,075 | ||||||||||||
Consumer Durables & Apparel | — | — | 24,458 | 24,458 | ||||||||||||
Hong Kong(a) | 5,123,015 | — | — | 5,123,015 | ||||||||||||
Materials | 509,808 | — | 117,949 | 627,757 | ||||||||||||
Preferred Stock(a) | 762,370 | — | — | 762,370 | ||||||||||||
Rights(a) | — | — | 480 | 480 | ||||||||||||
Other Investment Companies(a) | 571,882 | — | — | 571,882 | ||||||||||||
Total | $168,989,864 | $— | $213,957 | $169,203,821 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $6,627,995 | $— | $— | $6,627,995 |
(a) | As categorized in Portfolio Holdings. |
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
Balance | Change in | Balance | ||||||||||||||||||||||||||||||
as of | Realized | Unrealized | Gross | Gross | as of | |||||||||||||||||||||||||||
August 31, | Gains | Gains | Gross | Gross | Transfers | Transfers | February 29, | |||||||||||||||||||||||||
Investments in Securities | 2011 | (Losses) | (Losses) | Purchases | Sales | in* | out* | 2012 | ||||||||||||||||||||||||
Common Stock | ||||||||||||||||||||||||||||||||
China | $63,455 | $— | ($34,360 | ) | $6,218 | $— | $60,215 | $— | $95,528 | |||||||||||||||||||||||
Hong Kong | 47,513 | (33,059 | ) | 55,511 | 55,760 | (7,776 | ) | — | — | 117,949 | ||||||||||||||||||||||
Rights | ||||||||||||||||||||||||||||||||
Norway | — | — | 480 | — | — | — | — | 480 | ||||||||||||||||||||||||
Total | $110,968 | ($33,059 | ) | $21,631 | $61,978 | ($7,776 | ) | $60,215 | $— | $213,957 | ||||||||||||||||||||||
* | All security transfers in and out of Level 3 from Level 1 or Level 2 were the result of fair valued securities for which no quoted value was available. |
All net realized and change in unrealized gains (losses) on Level 3 investments in the tables above are reflected on the accompanying Statements of Operations. Changes in net unrealized gains (losses) for Level 3 investments held by the fund at February 29, 2012 are $4,022.
There were no significant transfers between Level 1 and Level 2 for the period ended February 29, 2012.
See financial notes 49
Schwab International Small-Cap Equity ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $165,924,542) including securities on loan of $6,240,363 | $169,203,821 | |||||
Collateral invested for securities on loan | 6,627,995 | |||||
Foreign currency, at value (cost $575,475) | 580,838 | |||||
Receivables: | ||||||
Fund shares sold | 7,965,098 | |||||
Dividends | 215,072 | |||||
Foreign tax reclaims | 24,581 | |||||
Income from securities on loan | + | 11,736 | ||||
Total assets | 184,629,141 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 6,627,995 | |||||
Payables: | ||||||
Investments bought | 7,968,043 | |||||
Investment adviser fees | + | 4,642 | ||||
Total liabilities | 14,600,680 | |||||
Net Assets | ||||||
Total assets | 184,629,141 | |||||
Total liabilities | − | 14,600,680 | ||||
Net assets | $170,028,461 | |||||
Net Assets by Source | ||||||
Capital received from investors | 174,502,918 | |||||
Distributions in excess of net investment income | (1,388,355 | ) | ||||
Net realized capital losses | (6,371,042 | ) | ||||
Net unrealized capital gains | 3,284,940 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$170,028,461 | 6,400,001 | $26.57 |
50 See financial notes
Schwab International Small-Cap Equity ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (net of foreign withholding tax of $104,829) | $1,426,692 | |||||
Interest | 133 | |||||
Securities on loan | + | 65,813 | ||||
Total investment income | 1,492,638 | |||||
Expenses | ||||||
Investment adviser fees | 256,451 | |||||
Total expenses | − | 256,451 | ||||
Net investment income | 1,236,187 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments | (6,681,011 | ) | ||||
Net realized gains on in-kind redemptions | 2,225,079 | |||||
Net realized losses on foreign currency transactions | + | (36,315 | ) | |||
Net realized losses | (4,492,247 | ) | ||||
Net unrealized gains on investments | 3,154,386 | |||||
Net unrealized gains on foreign currency translations | + | 4,899 | ||||
Net unrealized gains | + | 3,159,285 | ||||
Net realized and unrealized losses | (1,332,962 | ) | ||||
Net decrease in net assets resulting from operations | ($96,775 | ) |
See financial notes 51
Schwab International Small-Cap Equity ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $1,236,187 | $3,146,034 | ||||||||
Net realized gains (losses) | (4,492,247 | ) | 1,158,799 | |||||||
Net unrealized gains | + | 3,159,285 | 2,001,625 | |||||||
Net increase (decrease) in net assets resulting from operations | (96,775 | ) | 6,306,458 | |||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($4,859,831 | ) | ($2,126,721 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 900,000 | $23,266,002 | 3,800,000 | $110,560,371 | ||||||||||||||
Shares Redeemed | + | (400,000 | ) | (10,419,635 | ) | (400,000 | ) | (11,449,115 | ) | |||||||||
Net transactions in fund shares | 500,000 | $12,846,367 | 3,400,000 | $99,111,256 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 5,900,001 | $162,138,700 | 2,500,001 | $58,847,707 | ||||||||||||||
Total increase | + | 500,000 | 7,889,761 | 3,400,000 | 103,290,993 | |||||||||||||
End of period | 6,400,001 | $170,028,461 | 5,900,001 | $162,138,700 | ||||||||||||||
(Distributions in excess of net investment income)/ Net investment income not yet distributed | ($1,388,355 | ) | $2,235,289 |
52 See financial notes
Schwab Emerging Markets Equity ETF™
Financial Statements
Financial Highlights
9/1/11– | 9/1/10– | 1/13/101– | ||||||||||||
2/29/12* | 8/31/11 | 8/31/10 | ||||||||||||
Per-Share Data ($) | ||||||||||||||
Net asset value at beginning of period | 26.10 | 24.30 | 25.00 | |||||||||||
Income (loss) from investment operations: | ||||||||||||||
Net investment income (loss) | 0.12 | 0.62 | 0.27 | |||||||||||
Net realized and unrealized gains (losses) | 1.03 | 1.41 | 2 | (0.97 | ) | |||||||||
Total from investment operations | 1.15 | 2.03 | (0.70 | ) | ||||||||||
Less distributions: | ||||||||||||||
Distributions from net investment income | (0.57 | ) | (0.23 | ) | — | |||||||||
Net asset value at end of period | 26.68 | 26.10 | 24.30 | |||||||||||
Total return (%) | 4.86 | 3 | 8.31 | (2.80 | )3 | |||||||||
Ratios/Supplemental Data (%) | ||||||||||||||
Ratios to average net assets: | ||||||||||||||
Net operating expenses | 0.25 | 4 | 0.25 | 0.30 | 4,5 | |||||||||
Gross operating expenses | 0.25 | 4 | 0.25 | 0.30 | 4 | |||||||||
Net investment income (loss) | 1.39 | 4 | 2.78 | 2.94 | 4 | |||||||||
Portfolio turnover rate6 | 4 | 3 | 9 | 23 | 3 | |||||||||
Net assets, end of period ($ x 1,000) | 562,880 | 396,661 | 148,222 |
* Unaudited.
1 Commencement of operations.
2 The per share amount does not accord with the change in aggregate gains and losses in securities during the period because of the timing of sales and repurchases of fund shares in relation to fluctuating market values.
3 Not annualized.
4 Annualized.
5 Effective June 14, 2010, the annual operating expense was reduced. The ratio presented for period ended 8/31/10 is a blended rate.
6 Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes 53
Schwab Emerging Markets Equity ETF
Portfolio Holdings as of February 29, 2012 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The fund’s Form N-Q is available on the SEC’s website at http://www.sec.gov and may be viewed and copied at the SEC’s Public Reference Room in Washington, D.C. Call 1-800-SEC-0330 for information on the operation of the Public Reference Room. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website at www.schwabetfs.com.
Cost | Value | |||||||||||
Holdings by Category | ($) | ($) | ||||||||||
93 | .5% | Common Stock | 501,838,415 | 526,538,639 | ||||||||
0 | .0% | Corporate Bonds | 500 | 305 | ||||||||
5 | .8% | Preferred Stock | 30,330,967 | 32,447,810 | ||||||||
0 | .5% | Other Investment Company | 2,727,804 | 2,727,804 | ||||||||
99 | .8% | Total Investments | 534,897,686 | 561,714,558 | ||||||||
1 | .1% | Collateral Invested for Securities on Loan | 6,322,107 | 6,322,107 | ||||||||
(0 | .9)% | Other Assets and Liabilities, Net | (5,156,782 | ) | ||||||||
100 | .0% | Net Assets | 562,879,883 |
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Common Stock 93.5% of net assets | ||||||||
Brazil 13.4% | ||||||||
Banks 1.8% | ||||||||
Banco Bradesco S.A. ADR | 303,840 | 5,511,657 | ||||||
Banco do Brasil S.A. | 168,800 | 2,718,458 | ||||||
Banco Santander Brasil S.A. ADR | 119,426 | 1,275,470 | ||||||
Itau Unibanco Holding S.A. | 21,100 | 389,580 | ||||||
9,895,165 | ||||||||
Capital Goods 0.3% | ||||||||
Embraer S.A. ADR | 31,650 | 951,399 | ||||||
Weg S.A. | 42,200 | 469,462 | ||||||
1,420,861 | ||||||||
Consumer Durables & Apparel 0.3% | ||||||||
Cyrela Brazil Realty S.A. | 51,484 | 519,368 | ||||||
MRV Engenharia e Participacoes S.A. | 50,640 | 408,506 | ||||||
PDG Realty S.A. Empreendimentos e Participacoes | 189,056 | 808,242 | ||||||
1,736,116 | ||||||||
Consumer Services 0.0% | ||||||||
Anhanguera Educacional Participacoes S.A. | 19,834 | 260,734 | ||||||
Diversified Financials 0.5% | ||||||||
BM&F BOVESPA S.A. | 333,380 | 2,231,077 | ||||||
CETIP S.A. - Mercados Organizados | 16,880 | 314,614 | ||||||
2,545,691 | ||||||||
Energy 4.3% | ||||||||
HRT Participacoes em Petroleo S.A. * | 302 | 119,963 | ||||||
OGX Petroleo e Gas Participacoes S.A. * | 189,900 | 1,880,307 | ||||||
OSX Brasil S.A. * | 8,696 | 79,773 | ||||||
Petroleo Brasileiro S.A. ADR | 730,271 | 21,198,514 | ||||||
Ultrapar Participacoes S.A. ADR | 51,062 | 1,144,810 | ||||||
24,423,367 | ||||||||
Food, Beverage & Tobacco 1.0% | ||||||||
BRF - Brasil Foods S.A. ADR | 132,719 | 2,775,154 | ||||||
Companhia de Bebidas das Americas ADR | 21,100 | 713,180 | ||||||
Cosan S.A. Industria e Comercio | 21,100 | 377,905 | ||||||
JBS S.A. * | 88,620 | 376,799 | ||||||
Souza Cruz S.A. | 105,500 | 1,579,827 | ||||||
5,822,865 | ||||||||
Health Care Equipment & Services 0.0% | ||||||||
Amil Participacoes S.A. | 21,100 | 243,334 | ||||||
Household & Personal Products 0.2% | ||||||||
Natura Cosmeticos S.A. | 42,200 | 995,211 | ||||||
Insurance 0.1% | ||||||||
Porto Seguro S.A. | 16,880 | 211,381 | ||||||
Sul America S.A. | 10,550 | 116,137 | ||||||
327,518 | ||||||||
Materials 1.9% | ||||||||
Braskem S.A. ADR (a) | 21,100 | 389,506 | ||||||
Companhia Siderurgica Nacional S.A. ADR | 179,139 | 1,830,801 | ||||||
Duratex S.A. | 50,332 | 281,723 | ||||||
Fibria Celulose S.A. ADR (a) | 10,550 | 97,166 | ||||||
Gerdau S.A. | 21,100 | 179,428 | ||||||
Gerdau S.A. ADR | 134,618 | 1,400,027 | ||||||
MMX Mineracao e Metalicos S.A. * | 42,200 | 236,943 | ||||||
Usinas Siderurgicas de Minas Gerais S.A. | 42,200 | 378,519 | ||||||
Vale S.A. ADR | 242,650 | 6,100,221 | ||||||
10,894,334 | ||||||||
Real Estate 0.2% | ||||||||
BR Malls Participacoes S.A. | 65,912 | 844,967 | ||||||
Retailing 0.2% | ||||||||
B2W Cia Global Do Varejo | 11,715 | 75,057 | ||||||
Lojas Americanas S.A. | 14,770 | 139,794 | ||||||
Lojas Renner S.A. | 21,100 | 803,493 | ||||||
1,018,344 | ||||||||
Software & Services 0.5% | ||||||||
Cielo S.A. | 33,572 | 1,200,606 | ||||||
Redecard S.A. | 84,400 | 1,754,954 | ||||||
2,955,560 | ||||||||
Telecommunication Services 0.5% | ||||||||
Oi S.A. ADR | 19,201 | 384,020 | ||||||
Tele Norte Leste Participacoes S.A. ADR | 46,420 | 498,551 | ||||||
Telefonica Brasil S.A. ADR (a) | 32,705 | 962,508 | ||||||
Tim Participacoes S.A. | 42,225 | 255,529 |
54 See financial notes
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Tim Participacoes S.A. ADR | 32,704 | 982,755 | ||||||
3,083,363 | ||||||||
Transportation 0.6% | ||||||||
All America Latina Logistica S.A. | 127,444 | 738,580 | ||||||
CCR S.A. | 253,200 | 2,023,358 | ||||||
LLX Logistica S.A. * | 42,200 | 89,960 | ||||||
TAM S.A. ADR | 14,981 | 352,203 | ||||||
3,204,101 | ||||||||
Utilities 1.0% | ||||||||
Centrais Eletricas Brasileiras S.A. ADR | 42,200 | 456,182 | ||||||
Companhia de Saneamento Basico do Estado de Sao Paulo ADR | 8,440 | 634,013 | ||||||
Companhia Energetica de Minas Gerais ADR | 69,630 | 1,589,653 | ||||||
Companhia Paranaense de Energia ADR | 21,100 | 524,968 | ||||||
CPFL Energia S.A. ADR (a) | 20,889 | 677,012 | ||||||
EDP - Energias do Brasil S.A. | 21,100 | 516,163 | ||||||
Light S.A. | 21,100 | 334,277 | ||||||
Tractebel Energia S.A. | 42,200 | 746,716 | ||||||
5,478,984 | ||||||||
75,150,515 | ||||||||
Chile 2.3% | ||||||||
Banks 0.4% | ||||||||
Banco de Chile ADR (a) | 8,440 | 806,020 | ||||||
Banco de Credito e Inversiones | 4,220 | 277,271 | ||||||
Banco Santander Chile ADR | 10,972 | 888,842 | ||||||
Corpbanca S.A. | 26,618,494 | 374,297 | ||||||
2,346,430 | ||||||||
Capital Goods 0.2% | ||||||||
Empresas Copec S.A. | 78,492 | 1,351,560 | ||||||
Food & Staples Retailing 0.2% | ||||||||
Cencosud S.A. | 130,609 | 852,689 | ||||||
Food, Beverage & Tobacco 0.0% | ||||||||
Cia Cervecerias Unidas S.A. | 10,550 | 152,588 | ||||||
Materials 0.5% | ||||||||
Cap S.A. | 20,678 | 893,494 | ||||||
Empresas CMPC S.A. | 160,360 | 704,658 | ||||||
Sociedad Quimica y Minera de Chile S.A. ADR | 22,577 | 1,336,107 | ||||||
2,934,259 | ||||||||
Retailing 0.3% | ||||||||
S.A.C.I. Falabella S.A. | 139,893 | 1,396,295 | ||||||
Telecommunication Services 0.0% | ||||||||
Empresa Nacional de Telecomunicaciones S.A. | 8,440 | 173,074 | ||||||
Transportation 0.2% | ||||||||
Lan Airlines S.A. ADR (a) | 42,200 | 1,135,180 | ||||||
Utilities 0.5% | ||||||||
Colbun S.A. | 1,933,393 | 567,395 | ||||||
Empresa Nacional de Electricidad S.A. ADR | 23,026 | 1,216,694 | ||||||
Enersis S.A. ADR | 42,200 | 852,862 | ||||||
2,636,951 | ||||||||
12,979,026 | ||||||||
China 17.0% | ||||||||
Automobiles & Components 0.3% | ||||||||
Dongfeng Motor Group Co., Ltd., H Shares | 492,000 | 960,439 | ||||||
Great Wall Motor Co., Ltd., H Shares (a) | 316,500 | 637,432 | ||||||
Guangzhou Automobile Group Co., Ltd., H Shares | 215,662 | 253,877 | ||||||
1,851,748 | ||||||||
Banks 4.9% | ||||||||
Agricultural Bank of China Ltd., H Shares | 2,954,000 | 1,470,201 | ||||||
Bank of China Ltd., H Shares | 12,027,000 | 5,256,976 | ||||||
Bank of Communications Co., Ltd., H Shares | 1,360,200 | 1,122,436 | ||||||
China CITIC Bank Corp., Ltd., H Shares | 1,750,800 | 1,146,778 | ||||||
China Construction Bank Corp., H Shares | 10,972,000 | 9,252,148 | ||||||
China Merchants Bank Co., Ltd., H Shares | 527,500 | 1,209,298 | ||||||
China Minsheng Banking Corp., Ltd., H Shares (a) | 844,100 | 819,536 | ||||||
Industrial & Commercial Bank of China Ltd., H Shares | 9,917,000 | 7,275,646 | ||||||
27,553,019 | ||||||||
Capital Goods 0.9% | ||||||||
Beijing Enterprises Holdings Ltd. | 105,500 | 670,623 | ||||||
China Communications Construction Co., Ltd., H Shares | 844,000 | 864,056 | ||||||
China International Marine Containers (Group) Co., Ltd., B Shares | 358,700 | 513,373 | ||||||
China Railway Construction Corp., Ltd., H Shares | 105,500 | 82,706 | ||||||
China Railway Group Ltd., H Shares | 211,000 | 85,426 | ||||||
Citic Pacific Ltd. (a) | 211,000 | 396,661 | ||||||
CITIC Resources Holdings Ltd. * | 422,000 | 75,088 | ||||||
CSR Corp., Ltd., H Shares (a) | 450,000 | 353,353 | ||||||
Metallurgical Corp. of China Ltd., H Shares (a) | 291,000 | 79,169 | ||||||
Shanghai Electric Group Co., Ltd. | 422,000 | 227,985 | ||||||
Shanghai Industrial Holdings Ltd. | 211,000 | 767,203 | ||||||
Shanghai Zhenhua Heavy Industry Co., Ltd., B Shares * | 654,100 | 302,194 | ||||||
Weichai Power Co., Ltd. (a) | 25,000 | 137,963 | ||||||
Zoomlion Heavy Industry Science and Technology Co., Ltd., H Shares (a) | 184,500 | 285,467 | ||||||
4,841,267 |
See financial notes 55
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Diversified Financials 0.0% | ||||||||
CITIC Securities Co., Ltd. *(a) | 30,000 | 66,454 | ||||||
Energy 3.6% | ||||||||
China Coal Energy Co., H Shares | 633,000 | 812,093 | ||||||
China Oilfield Services Ltd., H Shares | 422,000 | 738,909 | ||||||
China Petroleum & Chemical Corp., H Shares | 3,111,000 | 3,561,984 | ||||||
China Shenhua Energy Co., Ltd., H Shares | 422,000 | 1,945,215 | ||||||
CNOOC Ltd. | 2,401,000 | 5,498,119 | ||||||
Inner Mongolia Yitai Coal Co., Ltd., B Shares | 168,800 | 955,070 | ||||||
Kunlun Energy Co., Ltd. | 422,000 | 708,439 | ||||||
PetroChina Co., Ltd., H Shares | 3,376,000 | 5,101,631 | ||||||
Yanzhou Coal Mining Co., Ltd., H Shares | 422,000 | 1,056,673 | ||||||
20,378,133 | ||||||||
Food, Beverage & Tobacco 0.1% | ||||||||
China Agri-Industries Holdings Ltd. | 211,000 | 159,154 | ||||||
Tsingtao Brewery Co., Ltd. (a) | 60,000 | 323,762 | ||||||
Yantai Changyu Pioneer Wine Co., Ltd. | 21,100 | 232,256 | ||||||
715,172 | ||||||||
Health Care Equipment & Services 0.2% | ||||||||
Shandong Weigao Group Medical Polymer Co., Ltd. | 176,000 | 174,282 | ||||||
Shanghai Pharmaceuticals Holding Co., Ltd. * | 105,500 | 194,249 | ||||||
Sinopharm Group Co., H Shares | 186,000 | 506,028 | ||||||
874,559 | ||||||||
Insurance 1.7% | ||||||||
China Life Insurance Co., Ltd., H Shares | 1,266,000 | 3,950,282 | ||||||
China Pacific Insurance (Group) Co., Ltd., H Shares | 184,500 | 664,901 | ||||||
China Taiping Insurance Holdings Co., Ltd. * | 211,000 | 492,969 | ||||||
New China Life Insurance Co., Ltd. *(a) | 27,300 | 120,384 | ||||||
PICC Property & Casualty Co., Ltd., H Shares | 844,000 | 1,190,526 | ||||||
Ping An Insurance (Group) Co., of China Ltd., H Shares | 336,500 | 2,943,838 | ||||||
9,362,900 | ||||||||
Materials 0.8% | ||||||||
Aluminum Corp. of China Ltd., H Shares (a) | 422,000 | 233,426 | ||||||
Angang Steel Co., Ltd., H Shares (a) | 150,000 | 117,011 | ||||||
Anhui Conch Cement Co., Ltd., H Shares (a) | 211,000 | 733,196 | ||||||
BBMG Corp., H Shares | 211,000 | 223,360 | ||||||
China Bluechemical Ltd., H Shares | 844,000 | 659,468 | ||||||
China National Building Material Co., Ltd., H Shares | 422,000 | 610,498 | ||||||
Jiangxi Copper Co., Ltd., H Shares | 214,000 | 587,723 | ||||||
Sinofert Holdings Ltd. | 844,000 | 253,558 | ||||||
Zhaojin Mining Industry Co., Ltd. | 105,500 | 217,646 | ||||||
Zijin Mining Group Co., Ltd., H Shares (a) | 1,266,000 | 607,233 | ||||||
4,243,119 | ||||||||
Real Estate 0.8% | ||||||||
China Overseas Land & Investment Ltd. (a) | 844,000 | 1,767,289 | ||||||
China Resources Land Ltd. (a) | 422,000 | 804,203 | ||||||
China Vanke Co., Ltd., B Shares | 443,100 | 571,322 | ||||||
Guangzhou R&F Properties Co., Ltd., H Shares (a) | 422,000 | 557,175 | ||||||
Sino-Ocean Land Holdings Ltd. (a) | 844,000 | 485,351 | ||||||
Yuexiu Property Co., Ltd. | 2,110,000 | 424,410 | ||||||
4,609,750 | ||||||||
Retailing 0.1% | ||||||||
China Resources Enterprise Ltd. | 178,000 | 663,280 | ||||||
Technology Hardware & Equipment 0.3% | ||||||||
BYD Co., Ltd., H Shares *(a) | 40,000 | 131,259 | ||||||
Lenovo Group Ltd. | 1,266,000 | 1,118,158 | ||||||
ZTE Corp., H Shares (a) | 144,360 | 431,831 | ||||||
1,681,248 | ||||||||
Telecommunication Services 2.4% | ||||||||
China Mobile Ltd. | 949,500 | 10,155,244 | ||||||
China Telecom Corp., Ltd., H Shares | 3,376,000 | 2,054,582 | ||||||
China Unicom (Hong Kong) Ltd. | 844,000 | 1,521,348 | ||||||
13,731,174 | ||||||||
Transportation 0.6% | ||||||||
Air China Ltd., H Shares | 844,000 | 637,704 | ||||||
China COSCO Holdings Co., Ltd., H Shares (a) | 548,500 | 359,269 | ||||||
China Merchants Holdings International Co., Ltd. | 422,000 | 1,458,231 | ||||||
Cosco Pacific Ltd. | 422,000 | 637,704 | ||||||
Jiangsu Expressway Co., Ltd., H Shares | 96,000 | 100,509 | ||||||
Zhejiang Expressway Co., Ltd., H Shares | 422,000 | 319,940 | ||||||
3,513,357 | ||||||||
Utilities 0.3% | ||||||||
China Longyuan Power Group Corp., H Shares | 422,000 | 365,646 | ||||||
China Resources Power Holdings Co., Ltd. | 422,000 | 830,321 | ||||||
Datang International Power Generation Co., Ltd., H Shares (a) | 1,266,000 | 458,690 | ||||||
1,654,657 | ||||||||
95,739,837 | ||||||||
Colombia 1.1% | ||||||||
Banks 0.3% | ||||||||
Bancolombia S.A. ADR | 25,320 | 1,617,948 |
56 See financial notes
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Diversified Financials 0.2% | ||||||||
Corporacion Financiera Colombiana S.A. | 24,898 | 477,434 | ||||||
Grupo de Inversiones Suramericana S.A. | 27,430 | 503,374 | ||||||
980,808 | ||||||||
Energy 0.5% | ||||||||
Ecopetrol S.A. ADR | 45,365 | 2,639,789 | ||||||
Food & Staples Retailing 0.0% | ||||||||
Almacenes Exito S.A. | 14,770 | 209,999 | ||||||
Materials 0.1% | ||||||||
Cementos Argos S.A. | 42,200 | 259,729 | ||||||
Inversiones Argos S.A. | 46,420 | 440,348 | ||||||
700,077 | ||||||||
Utilities 0.0% | ||||||||
Interconexion Electrica S.A. ESP | 33,760 | 217,315 | ||||||
6,365,936 | ||||||||
Czech Republic 0.4% | ||||||||
Banks 0.1% | ||||||||
Komercni Banka A/S | 2,743 | 538,651 | ||||||
Telecommunication Services 0.0% | ||||||||
Telefonica O2 Czech Republic A/S | 11,394 | 248,507 | ||||||
Utilities 0.3% | ||||||||
CEZ A/S | 33,760 | 1,461,762 | ||||||
2,248,920 | ||||||||
Egypt 0.5% | ||||||||
Banks 0.1% | ||||||||
Commercial International Bank GDR | 128,710 | 514,840 | ||||||
Capital Goods 0.2% | ||||||||
Orascom Construction Industries GDR | 29,329 | 1,322,151 | ||||||
Telecommunication Services 0.2% | ||||||||
Orascom Telecom Holding SAE GDR - Reg’d * | 188,435 | 649,912 | ||||||
Orascom Telecom Media And Technology Holding SAE GDR - Reg’d (b)(c) | 176,826 | 230,168 | ||||||
880,080 | ||||||||
2,717,071 | ||||||||
Hong Kong 0.1% | ||||||||
Automobiles & Components 0.1% | ||||||||
Brilliance China Automotive Holdings Ltd. *(a) | 422,000 | 492,425 | ||||||
Diversified Financials 0.0% | ||||||||
China Everbright Ltd. | 50,000 | 94,124 | ||||||
Materials 0.0% | ||||||||
China Resources Cement Holdings Ltd. (a) | 100,000 | 84,196 | ||||||
670,745 | ||||||||
Hungary 0.4% | ||||||||
Banks 0.2% | ||||||||
OTP Bank Nyrt. plc | 51,906 | 964,189 | ||||||
Energy 0.1% | ||||||||
MOL Hungarian Oil and Gas Nyrt. * | 10,550 | 916,634 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
Richter Gedeon Nyrt. | 2,321 | 419,495 | ||||||
2,300,318 | ||||||||
India 9.8% | ||||||||
Automobiles & Components 0.7% | ||||||||
Bajaj Auto Ltd. | 43,677 | 1,609,035 | ||||||
Hero Honda Motors Ltd. | 13,505 | 537,334 | ||||||
Mahindra & Mahindra Ltd. | 39,246 | 569,351 | ||||||
Maruti Suzuki India Ltd. | 12,660 | 325,477 | ||||||
Tata Motors Ltd. | 148,755 | 823,146 | ||||||
3,864,343 | ||||||||
Banks 1.7% | ||||||||
Axis Bank Ltd. | 54,438 | 1,309,578 | ||||||
Bank of Baroda | 15,682 | 257,260 | ||||||
Canara Bank Ltd. | 56,126 | 584,049 | ||||||
HDFC Bank Ltd. | 178,295 | 1,891,724 | ||||||
Housing Development Finance Corp., Ltd. | 179,350 | 2,427,135 | ||||||
ICICI Bank Ltd. | 93,262 | 1,723,092 | ||||||
Oriental Bank of Commerce | 56,548 | 323,354 | ||||||
State Bank of India | 24,265 | 1,114,230 | ||||||
Union Bank of India Ltd. | 42,413 | 200,815 | ||||||
9,831,237 | ||||||||
Capital Goods 0.7% | ||||||||
Adani Enterprises Ltd. | 37,136 | 283,540 | ||||||
Bharat Heavy Electricals Ltd. | 118,160 | 736,179 | ||||||
Crompton Greaves Ltd. | 65,208 | 189,131 | ||||||
Cummins India Ltd. | 25,320 | 243,436 | ||||||
Jaiprakash Associates Ltd. | 196,863 | 306,883 | ||||||
Larsen & Toubro Ltd. | 72,373 | 1,927,092 | ||||||
Siemens India Ltd. | 12,871 | 207,470 | ||||||
3,893,731 | ||||||||
Consumer Durables & Apparel 0.1% | ||||||||
Titan Industries Ltd. | 103,390 | 479,927 | ||||||
Diversified Financials 0.3% | ||||||||
Bajaj Holdings & Investment Ltd. | 24,265 | 397,568 | ||||||
Infrastructure Development Finance Co., Ltd. | 197,496 | 571,614 | ||||||
Kotak Mahindra Bank Ltd. | 53,172 | 594,428 | ||||||
Rural Electrification Corp., Ltd. | 42,200 | 185,556 | ||||||
Shriram Transport Finance Co., Ltd. | 8,440 | 94,526 | ||||||
1,843,692 | ||||||||
Energy 1.3% | ||||||||
Bharat Petroleum Corp., Ltd. | 31,017 | 418,961 | ||||||
Cairn India Ltd. * | 38,824 | 293,457 | ||||||
Coal India Ltd. | 73,850 | 503,886 | ||||||
Hindustan Petroleum Corp., Ltd. | 58,658 | 375,813 | ||||||
Indian Oil Corp., Ltd. | 58,236 | 338,413 |
See financial notes 57
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Oil & Natural Gas Corp., Ltd. | 191,588 | 1,146,166 | ||||||
Reliance Industries Ltd. | 250,246 | 4,160,895 | ||||||
The Great Eastern Shipping Co., Ltd. | 50,218 | 247,043 | ||||||
7,484,634 | ||||||||
Food, Beverage & Tobacco 0.8% | ||||||||
ITC Ltd. | 917,428 | 3,896,402 | ||||||
Nestle India Ltd. | 5,486 | 493,639 | ||||||
4,390,041 | ||||||||
Household & Personal Products 0.2% | ||||||||
Colgate-Palmolive (India) Ltd. | 16,880 | 362,329 | ||||||
Hindustan Unilever Ltd. | 116,894 | 908,725 | ||||||
1,271,054 | ||||||||
Materials 0.9% | ||||||||
Asian Paints Ltd. | 2,110 | 136,476 | ||||||
Hindalco Industries Ltd. | 276,199 | 838,854 | ||||||
Jindal Steel & Power Ltd. | 72,373 | 860,768 | ||||||
JSW Steel Ltd. | 35,448 | 585,857 | ||||||
NMDC Ltd. | 82,712 | 302,681 | ||||||
Sesa Goa Ltd. | 72,795 | 318,524 | ||||||
Sterlite Industries (India) Ltd. ADR | 94,317 | 935,625 | ||||||
Tata Chemicals Ltd. | 56,548 | 419,293 | ||||||
Tata Steel Ltd. | 41,356 | 399,848 | ||||||
Ultratech Cement Ltd. | 14,770 | 421,417 | ||||||
5,219,343 | ||||||||
Media 0.1% | ||||||||
Zee Entertainment Enterprises Ltd. | 110,564 | 288,649 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.5% | ||||||||
Cipla Ltd. | 110,142 | 711,282 | ||||||
Dr. Reddys Laboratories Ltd. | 17,302 | 576,886 | ||||||
Lupin Ltd. | 65,410 | 643,156 | ||||||
Piramal Healthcare Ltd. | 13,715 | 127,048 | ||||||
Sun Pharmaceutical Industries Ltd. | 60,135 | 674,847 | ||||||
2,733,219 | ||||||||
Real Estate 0.1% | ||||||||
DLF Ltd. | 83,767 | 385,848 | ||||||
Housing Development & Infrastructure Ltd. * | 42,200 | 98,030 | ||||||
483,878 | ||||||||
Software & Services 1.4% | ||||||||
HCL Technologies Ltd. | 41,356 | 409,214 | ||||||
Infosys Technologies Ltd. | 87,776 | 5,142,087 | ||||||
Mphasis Ltd. | 12,660 | 111,385 | ||||||
Tata Consultancy Services Ltd. | 51,484 | 1,282,531 | ||||||
Wipro Ltd. ADR | 66,704 | 732,410 | ||||||
7,677,627 | ||||||||
Telecommunication Services 0.4% | ||||||||
Bharti Airtel Ltd. | 257,420 | 1,838,339 | ||||||
Idea Cellular Ltd. * | 279,364 | 539,233 | ||||||
Reliance Communications Ltd. | 42,200 | 81,068 | ||||||
2,458,640 | ||||||||
Transportation 0.1% | ||||||||
Adani Ports and Special Economic Zone Ltd. | 63,300 | 190,248 | ||||||
Container Corp. Of India Ltd. | 4,220 | 83,268 | ||||||
273,516 | ||||||||
Utilities 0.5% | ||||||||
Adani Power Ltd. * | 104,656 | 162,291 | ||||||
GAIL India Ltd. | 70,052 | 533,573 | ||||||
NHPC Ltd. | 211,000 | 91,702 | ||||||
NTPC Ltd. | 247,503 | 917,089 | ||||||
Power Grid Corp. of India Ltd. | 202,771 | 467,519 | ||||||
Reliance Power Ltd. * | 117,738 | 287,318 | ||||||
Tata Power Co., Ltd. | 211,000 | 499,408 | ||||||
Torrent Power Ltd. | 10,550 | 47,562 | ||||||
3,006,462 | ||||||||
55,199,993 | ||||||||
Indonesia 3.0% | ||||||||
Automobiles & Components 0.6% | ||||||||
PT Astra International Tbk | 453,000 | 3,558,210 | ||||||
Banks 0.8% | ||||||||
Bank Danamon Indonesia Tbk PT | 211,000 | 104,681 | ||||||
PT Bank Central Asia Tbk | 2,004,500 | 1,688,936 | ||||||
PT Bank Mandiri Tbk | 1,371,959 | 981,057 | ||||||
PT Bank Negara Indonesia (Persero) Tbk | 633,316 | 265,052 | ||||||
PT Bank Rakyat Indonesia (Persero) Tbk | 2,110,000 | 1,614,080 | ||||||
4,653,806 | ||||||||
Capital Goods 0.3% | ||||||||
PT United Tractors Tbk | 422,000 | 1,356,763 | ||||||
Energy 0.3% | ||||||||
PT Adaro Energy Tbk | 1,477,000 | 314,395 | ||||||
PT Bumi Resources Tbk | 3,481,500 | 945,640 | ||||||
PT Tambang Batubara Bukit Asam Tbk | 211,000 | 485,393 | ||||||
1,745,428 | ||||||||
Food, Beverage & Tobacco 0.3% | ||||||||
Charoen Pokphand Indonesia Tbk PT | 1,055,000 | 312,874 | ||||||
PT Astra Agro Lestari Tbk | 94,950 | 234,743 | ||||||
PT Gudang Garam Tbk | 80,180 | 504,459 | ||||||
PT Indofood Sukses Makmur Tbk | 761,900 | 430,786 | ||||||
1,482,862 | ||||||||
Household & Personal Products 0.1% | ||||||||
PT Unilever Indonesia Tbk | 253,000 | 539,939 | ||||||
Materials 0.2% | ||||||||
PT Aneka Tambang Tbk | 738,500 | 160,472 | ||||||
PT Indocement Tunggal Prakarsa Tbk | 211,000 | 408,199 | ||||||
PT Semen Gresik (Persero) Tbk | 422,000 | 526,330 | ||||||
Vale Indonesia Tbk | 527,500 | 211,994 | ||||||
1,306,995 | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||||||||
PT Kalbe Farma Tbk | 1,055,000 | 409,368 |
58 See financial notes
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Telecommunication Services 0.2% | ||||||||
PT Telekomunikasi Indonesia Tbk | 1,688,000 | 1,319,335 | ||||||
Utilities 0.1% | ||||||||
PT Perusahaan Gas Negara | 1,688,000 | 701,774 | ||||||
17,074,480 | ||||||||
Malaysia 4.5% | ||||||||
Automobiles & Components 0.1% | ||||||||
UMW Holdings Berhad | 194,700 | 464,732 | ||||||
Banks 1.4% | ||||||||
Alliance Financial Group Berhad | 341,000 | 441,689 | ||||||
CIMB Group Holdings Berhad | 849,200 | 2,029,802 | ||||||
Hong Leong Bank Berhad | 111,100 | 448,777 | ||||||
Malayan Banking Berhad | 807,400 | 2,358,454 | ||||||
Public Bank Berhad - Foreign Market | 550,741 | 2,507,798 | ||||||
RHB Capital Berhad | 111,100 | 294,857 | ||||||
8,081,377 | ||||||||
Capital Goods 0.6% | ||||||||
Gamuda Berhad | 466,400 | 568,306 | ||||||
IJM Corp. Berhad | 219,500 | 430,866 | ||||||
Sime Darby Berhad | 696,300 | 2,252,428 | ||||||
3,251,600 | ||||||||
Consumer Services 0.4% | ||||||||
Berjaya Sports Toto Berhad | 194,700 | 284,689 | ||||||
Genting Berhad | 445,500 | 1,576,465 | ||||||
Genting Malaysia Berhad | 500,200 | 652,906 | ||||||
2,514,060 | ||||||||
Diversified Financials 0.2% | ||||||||
AMMB Holdings Berhad | 424,600 | 868,903 | ||||||
Food, Beverage & Tobacco 0.5% | ||||||||
British American Tobacco Malaysia Berhad | 21,100 | 367,691 | ||||||
IOI Corp. Berhad | 765,600 | 1,380,150 | ||||||
Kuala Lumpur Kepong Berhad | 90,200 | 705,219 | ||||||
PPB Group Berhad | 90,200 | 517,924 | ||||||
2,970,984 | ||||||||
Materials 0.2% | ||||||||
Lafarge Malayan Cement Berhad | 63,300 | 151,726 | ||||||
Petronas Chemicals Group Berhad | 379,800 | 849,494 | ||||||
1,001,220 | ||||||||
Real Estate 0.1% | ||||||||
SP Setia Berhad | 351,800 | 462,725 | ||||||
UEM Land Holdings Berhad * | 211,000 | 162,714 | ||||||
625,439 | ||||||||
Telecommunication Services 0.6% | ||||||||
Axiata Group Berhad | 1,037,300 | 1,790,299 | ||||||
Digi.com Berhad | 844,000 | 1,132,659 | ||||||
Maxis Berhad | 361,900 | 715,222 | ||||||
3,638,180 | ||||||||
Transportation 0.1% | ||||||||
MISC Berhad | 278,860 | 523,182 | ||||||
Utilities 0.3% | ||||||||
Petronas Gas Berhad | 126,600 | 710,025 | ||||||
Tenaga Nasional Berhad | 211,250 | 442,881 | ||||||
YTL Power International Berhad | 379,800 | 235,830 | ||||||
1,388,736 | ||||||||
25,328,413 | ||||||||
Mexico 5.3% | ||||||||
Banks 0.4% | ||||||||
Grupo Financiero Banorte S.A.B. de C.V., O Shares | 337,600 | 1,372,519 | ||||||
Grupo Financiero Inbursa S.A.B. de C.V., O Shares | 337,600 | 667,783 | ||||||
2,040,302 | ||||||||
Capital Goods 0.2% | ||||||||
Alfa S.A.B., A Shares | 33,660 | 452,511 | ||||||
Grupo Carso S.A.B. de C.V., Series A1 | 147,700 | 461,905 | ||||||
914,416 | ||||||||
Diversified Financials 0.0% | ||||||||
Inmuebles Carso SAB de C.V., Series B1 * | 189,900 | 159,902 | ||||||
Food & Staples Retailing 0.6% | ||||||||
Wal-Mart de Mexico S.A.B. de C.V., Series V | 1,097,200 | 3,428,723 | ||||||
Food, Beverage & Tobacco 0.7% | ||||||||
Fomento Economico Mexicano S.A.B. de C.V. | 337,600 | 2,492,441 | ||||||
Grupo Bimbo S.A.B. de C.V., Series A | 253,200 | 570,123 | ||||||
Grupo Modelo S.A.B. de C.V., Series C | 105,500 | 692,446 | ||||||
3,755,010 | ||||||||
Household & Personal Products 0.1% | ||||||||
Kimberly-Clark de Mexico S.A.B. de C.V., A Shares | 84,400 | 472,199 | ||||||
Materials 1.3% | ||||||||
Cemex S.A.B. de C.V., Series CPO * | 1,521,602 | 1,170,600 | ||||||
Grupo Mexico S.A.B. de C.V., Series B | 1,247,326 | 3,944,673 | ||||||
Industrias Penoles S.A.B. de C.V. | 26,375 | 1,305,295 | ||||||
Mexichem S.A.B. de C.V. | 105,500 | 383,217 | ||||||
Minera Frisco SAB de C.V., Series A1 * | 126,600 | 554,286 | ||||||
7,358,071 | ||||||||
Media 0.3% | ||||||||
Grupo Televisa S.A., Series CPO | 464,200 | 1,990,284 | ||||||
Retailing 0.1% | ||||||||
Grupo Elektra S.A.B. de C.V. | 9,495 | 826,975 | ||||||
Telecommunication Services 1.5% | ||||||||
America Movil S.A.B. de C.V., Series L | 6,878,600 | 8,298,096 |
See financial notes 59
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Transportation 0.1% | ||||||||
Grupo Aeroportuario del Pacifico S.A.B. de C.V., B Shares | 84,400 | 317,329 | ||||||
29,561,307 | ||||||||
Morocco 0.1% | ||||||||
Telecommunication Services 0.1% | ||||||||
Maroc Telecom | 38,824 | 653,860 | ||||||
Pakistan 0.0% | ||||||||
Energy 0.0% | ||||||||
Oil & Gas Development Co., Ltd. GDR - Reg’d (c)(d) | 9,984 | 164,736 | ||||||
Peru 0.5% | ||||||||
Banks 0.2% | ||||||||
Credicorp Ltd. | 9,073 | 1,114,981 | ||||||
Materials 0.3% | ||||||||
Companhia de Minas Buenaventura S.A. ADR | 40,723 | 1,634,214 | ||||||
2,749,195 | ||||||||
Philippines 0.7% | ||||||||
Banks 0.2% | ||||||||
Bank of the Philippine Islands | 365,269 | 569,839 | ||||||
BDO Unibank, Inc. | 164,580 | 252,134 | ||||||
821,973 | ||||||||
Capital Goods 0.2% | ||||||||
Aboitiz Equity Ventures, Inc. | 147,700 | 164,783 | ||||||
SM Investments Corp. | 46,420 | 692,147 | ||||||
856,930 | ||||||||
Diversified Financials 0.0% | ||||||||
Ayala Corp. | 21,100 | 197,897 | ||||||
Real Estate 0.1% | ||||||||
Ayala Land, Inc. | 844,000 | 404,678 | ||||||
SM Prime Holdings, Inc. | 844,000 | 322,952 | ||||||
727,630 | ||||||||
Telecommunication Services 0.1% | ||||||||
Philippine Long Distance Telephone Co. | 8,440 | 564,180 | ||||||
Utilities 0.1% | ||||||||
Aboitiz Power Corp. | 422,000 | 315,846 | ||||||
Manila Electric Co. | 73,850 | 455,312 | ||||||
771,158 | ||||||||
3,939,768 | ||||||||
Poland 1.3% | ||||||||
Banks 0.5% | ||||||||
Bank Handlowy w Warszawie S.A. | 9,073 | 227,670 | ||||||
Bank Pekao S.A. | 18,990 | 953,654 | ||||||
Get Bank S.A. * | 312,553 | 182,985 | ||||||
Getin Holding S.A. * | 106,787 | 81,621 | ||||||
Powszechna Kasa Oszczednosci Bank Polski S.A. | 94,317 | 1,043,007 | ||||||
2,488,937 | ||||||||
Energy 0.1% | ||||||||
Polski Koncern Naftowy Orlen S.A. * | 44,943 | 519,222 | ||||||
Insurance 0.2% | ||||||||
Powszechny Zaklad Ubezpieczen S.A. | 10,550 | 1,149,175 | ||||||
Materials 0.2% | ||||||||
KGHM Polska Miedz S.A. | 24,054 | 1,152,414 | ||||||
Telecommunication Services 0.1% | ||||||||
Telekomunikacja Polska S.A. | 101,913 | 563,172 | ||||||
Utilities 0.2% | ||||||||
Polska Grupa Energetyczna S.A. | 167,534 | 1,081,638 | ||||||
Tauron Polska Energia S.A. | 91,996 | 152,601 | ||||||
1,234,239 | ||||||||
7,107,159 | ||||||||
Russia 6.7% | ||||||||
Banks 1.0% | ||||||||
Sberbank of Russia * | 339,710 | 4,716,983 | ||||||
VTB Bank OJSC GDR - Reg’d | 197,918 | 1,001,465 | ||||||
5,718,448 | ||||||||
Consumer Durables & Apparel 0.0% | ||||||||
PIK Group GDR - Reg’d * | 74,768 | 199,930 | ||||||
Energy 4.2% | ||||||||
Gazprom ADR | 724,574 | 9,600,606 | ||||||
LUKOIL ADR | 98,959 | 6,348,220 | ||||||
NovaTek OAO GDR - Reg’d | 15,192 | 2,204,359 | ||||||
Rosneft Oil Co. GDR - Reg’d | 313,757 | 2,426,910 | ||||||
Surgutneftegas ADR | 115,206 | 1,221,184 | ||||||
Tatneft ADR | 42,833 | 1,712,035 | ||||||
23,513,314 | ||||||||
Materials 0.8% | ||||||||
Mining & Metallurgical Co., Norilsk Nickel ADR | 80,180 | 1,588,366 | ||||||
Novolipetsk Steel GDR - Reg’d | 21,733 | 520,940 | ||||||
Severstal GDR - Reg’d | 47,264 | 727,865 | ||||||
Uralkali GDR - Reg’d | 39,246 | 1,595,350 | ||||||
4,432,521 | ||||||||
Telecommunication Services 0.4% | ||||||||
Mobile TeleSystems ADR | 77,015 | 1,405,524 | ||||||
Rostelecom ADR * | 38,824 | 1,160,449 | ||||||
2,565,973 | ||||||||
Utilities 0.3% | ||||||||
Federal Hydrogenerating Co. ADR | 357,012 | 1,474,102 | ||||||
37,904,288 | ||||||||
South Africa 10.1% | ||||||||
Banks 1.0% | ||||||||
ABSA Group Ltd. | 57,814 | 1,237,730 | ||||||
Nedbank Group Ltd. | 41,145 | 886,996 |
60 See financial notes
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Standard Bank Group Ltd. | 254,255 | 3,773,111 | ||||||
5,897,837 | ||||||||
Capital Goods 0.5% | ||||||||
Aveng Ltd. | 83,134 | 403,942 | ||||||
Barloworld Ltd. | 47,897 | 573,399 | ||||||
Bidvest Group Ltd. | 55,704 | 1,314,504 | ||||||
Reunert Ltd. | 36,292 | 339,528 | ||||||
2,631,373 | ||||||||
Consumer Durables & Apparel 0.2% | ||||||||
Steinhoff International Holdings Ltd. * | 281,927 | 1,016,045 | ||||||
Consumer Services 0.0% | ||||||||
Sun International Ltd. | 22,155 | 249,646 | ||||||
Diversified Financials 0.9% | ||||||||
African Bank Investments Ltd. | 126,600 | 667,648 | ||||||
FirstRand Ltd. | 684,484 | 2,195,803 | ||||||
Investec Ltd. | 53,383 | 352,963 | ||||||
Remgro Ltd. | 81,235 | 1,451,505 | ||||||
RMB Holdings Ltd. | 154,663 | 648,737 | ||||||
5,316,656 | ||||||||
Energy 0.9% | ||||||||
Sasol Ltd. | 98,326 | 5,277,127 | ||||||
Food & Staples Retailing 0.5% | ||||||||
Clicks Group Ltd. | 21,100 | 124,331 | ||||||
Massmart Holdings Ltd. | 16,729 | 394,974 | ||||||
Pick n Pay Stores Ltd. | 44,732 | 258,598 | ||||||
Shoprite Holdings Ltd. | 86,721 | 1,583,052 | ||||||
The Spar Group Ltd. | 37,558 | 580,999 | ||||||
2,941,954 | ||||||||
Food, Beverage & Tobacco 0.3% | ||||||||
AVI Ltd. | 82,079 | 483,316 | ||||||
Tiger Brands Ltd. | 26,586 | 929,593 | ||||||
1,412,909 | ||||||||
Health Care Equipment & Services 0.2% | ||||||||
Life Healthcare Group Holdings Ltd. | 123,435 | 360,354 | ||||||
Mediclinic International Ltd. | 42,200 | 203,914 | ||||||
Netcare Ltd. | 234,421 | 432,645 | ||||||
996,913 | ||||||||
Insurance 0.5% | ||||||||
Discovery Holdings Ltd. | 67,942 | 446,125 | ||||||
MMI Holdings Ltd. | 256,411 | 656,670 | ||||||
Sanlam Ltd. | 351,315 | 1,455,207 | ||||||
2,558,002 | ||||||||
Materials 2.2% | ||||||||
AECI Ltd. | 25,742 | 318,881 | ||||||
African Rainbow Minerals Ltd. | 15,192 | 389,476 | ||||||
Anglo Platinum Ltd. | 16,458 | 1,307,901 | ||||||
AngloGold Ashanti Ltd. | 58,869 | 2,573,889 | ||||||
ArcelorMittal South Africa Ltd. | 26,586 | 232,666 | ||||||
Exxaro Resources Ltd. | 14,137 | 400,379 | ||||||
Gold Fields Ltd. | 121,958 | 1,944,728 | ||||||
Harmony Gold Mining Co., Ltd. | 85,455 | 1,135,546 | ||||||
Impala Platinum Holdings Ltd. | 95,372 | 2,139,092 | ||||||
Kumba Iron Ore Ltd. | 15,192 | 1,163,859 | ||||||
Nampak Ltd. | 135,673 | 428,861 | ||||||
Pretoria Portland Cement Co., Ltd. | 99,381 | 421,524 | ||||||
12,456,802 | ||||||||
Media 0.6% | ||||||||
Naspers Ltd., N Shares | 63,511 | 3,554,134 | ||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||||||||
Aspen Pharmacare Holdings Ltd. * | 69,208 | 1,009,295 | ||||||
Real Estate 0.2% | ||||||||
Fountainhead Property Trust | 278,252 | 270,775 | ||||||
Growthpoint Properties Ltd. | 335,068 | 924,223 | ||||||
1,194,998 | ||||||||
Retailing 0.7% | ||||||||
Imperial Holdings Ltd. | 37,775 | 747,266 | ||||||
Mr. Price Group Ltd. | 42,200 | 505,367 | ||||||
The Foschini Group Ltd. | 46,631 | 739,817 | ||||||
Truworths International Ltd. | 77,015 | 835,564 | ||||||
Woolworths Holdings Ltd. | 145,801 | 883,002 | ||||||
3,711,016 | ||||||||
Telecommunication Services 1.2% | ||||||||
MTN Group Ltd. | 295,400 | 5,364,637 | ||||||
Telkom South Africa Ltd. | 73,428 | 254,675 | ||||||
Vodacom Group (Pty) Ltd. | 70,474 | 979,042 | ||||||
6,598,354 | ||||||||
56,823,061 | ||||||||
Taiwan 12.6% | ||||||||
Automobiles & Components 0.2% | ||||||||
Cheng Shin Rubber Industry Co., Ltd. | 258,600 | 637,791 | ||||||
China Motor Corp. | 50,000 | 55,535 | ||||||
Yulon Motor Co., Ltd. | 227,000 | 478,772 | ||||||
1,172,098 | ||||||||
Banks 1.1% | ||||||||
Chang Hwa Commercial Bank | 900,520 | 551,414 | ||||||
China Development Financial Holding Corp. | 2,344,268 | 794,289 | ||||||
Chinatrust Financial Holding Co., Ltd. | 1,818,989 | 1,237,576 | ||||||
E.Sun Financial Holding Co., Ltd. | 882,946 | 483,584 | ||||||
First Financial Holding Co., Ltd. | 982,071 | 629,747 | ||||||
Hua Nan Financial Holdings Co., Ltd. | 1,280,160 | 759,926 | ||||||
Mega Financial Holding Co., Ltd. | 1,498,280 | 1,167,186 | ||||||
Taiwan Cooperative Financial Holding * | 844,000 | 554,130 | ||||||
6,177,852 | ||||||||
Capital Goods 0.3% | ||||||||
Far Eastern New Century Corp. | 650,449 | 835,299 | ||||||
Taiwan Glass Industrial Corp. | 226,700 | 278,015 | ||||||
Walsin Lihwa Corp. | 844,000 | 328,746 | ||||||
1,442,060 | ||||||||
Commercial & Professional Services 0.0% | ||||||||
Taiwan Secom Co., Ltd. | 48,000 | 98,789 | ||||||
Consumer Durables & Apparel 0.2% | ||||||||
Formosa Taffeta Co., Ltd. | 211,000 | 211,387 |
See financial notes 61
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Giant Manufacturing Co. Ltd. | 38,000 | 163,526 | ||||||
Pou Chen Corp. | 635,580 | 564,316 | ||||||
939,229 | ||||||||
Diversified Financials 0.5% | ||||||||
Capital Securities Corp. | 652,629 | 288,616 | ||||||
Fubon Financial Holding Co., Ltd. | 1,108,952 | 1,305,271 | ||||||
KGI Securities Co., Ltd. | 428,019 | 192,198 | ||||||
Yuanta Financial Holding Co., Ltd. * | 1,717,316 | 1,013,588 | ||||||
2,799,673 | ||||||||
Energy 0.1% | ||||||||
Formosa Petrochemical Corp. | 251,000 | 827,388 | ||||||
Food & Staples Retailing 0.1% | ||||||||
President Chain Store Corp. | 111,000 | 587,172 | ||||||
Food, Beverage & Tobacco 0.2% | ||||||||
Uni-President Enterprises Corp. | 680,658 | 1,043,123 | ||||||
Insurance 0.3% | ||||||||
Cathay Financial Holding Co., Ltd. | 1,081,716 | 1,273,213 | ||||||
Shin Kong Financial Holding Co., Ltd. * | 1,291,151 | 437,470 | ||||||
1,710,683 | ||||||||
Materials 2.1% | ||||||||
Asia Cement Corp. | 431,813 | 553,060 | ||||||
China Steel Corp. | 1,762,719 | 1,828,920 | ||||||
Feng Hsin Iron & Steel Co. | 60,000 | 105,729 | ||||||
Formosa Chemicals & Fibre Corp. | 663,000 | 2,074,976 | ||||||
Formosa Plastics Corp. | 1,055,000 | 3,301,810 | ||||||
Nan Ya Plastics Corp. | 1,266,000 | 3,109,444 | ||||||
Oriental Union Chemical Corp. | 50,000 | 69,567 | ||||||
Taiwan Cement Corp. | 489,690 | 628,854 | ||||||
Taiwan Fertilizer Co., Ltd. | 82,000 | 229,575 | ||||||
11,901,935 | ||||||||
Real Estate 0.0% | ||||||||
Cathay Real Estate Development Co. Ltd. | 211,000 | 90,082 | ||||||
Semiconductors & Semiconductor Equipment 3.2% | ||||||||
Advanced Semiconductor Engineering, Inc. | 1,055,015 | 1,033,625 | ||||||
Epistar Corp. | 89,000 | 233,127 | ||||||
Macronix International Co., Ltd. | 633,000 | 269,169 | ||||||
MediaTek, Inc. | 211,099 | 2,161,546 | ||||||
MStar Semiconductor, Inc. | 68,255 | 434,198 | ||||||
Novatek Microelectronics Corp. | 32,000 | 95,795 | ||||||
Siliconware Precision Industries Co. ADR | 134,407 | 775,529 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 801,800 | 11,642,136 | ||||||
United Microelectronics Corp. ADR | 403,221 | 1,096,761 | ||||||
17,741,886 | ||||||||
Technology Hardware & Equipment 3.6% | ||||||||
Acer, Inc. | 422,086 | 646,138 | ||||||
Advantech Co., Ltd. | 47,500 | 159,971 | ||||||
Asustek Computer, Inc. | 98,816 | 927,787 | ||||||
AU Optronics Corp. ADR | 147,700 | 784,287 | ||||||
Catcher Technology Co., Ltd. | 92,000 | 674,446 | ||||||
Cheng Uei Precision Industry Co., Ltd. | 43,228 | 103,673 | ||||||
Chicony Electronics Co., Ltd. | 66,050 | 136,162 | ||||||
Chimei Innolux Corp. * | 844,000 | 455,076 | ||||||
Chunghwa Picture Tubes Ltd. * | 422,000 | 32,013 | ||||||
CMC Magnetics Corp. * | 422,000 | 82,115 | ||||||
Compal Communications, Inc. | 211,000 | 485,940 | ||||||
Compal Electronics, Inc. | 636,610 | 753,641 | ||||||
D-Link Corp. | 120,000 | 94,094 | ||||||
Delta Electronics, Inc. | 321,000 | 882,324 | ||||||
Foxconn Technology Co., Ltd. | 227,817 | 1,050,116 | ||||||
HannStar Display Corp. * | 633,000 | 74,937 | ||||||
Hon Hai Precision Industry Co., Ltd. | 1,688,164 | 5,886,407 | ||||||
HTC Corp. | 117,750 | 2,647,733 | ||||||
Inventec Co., Ltd. | 639,450 | 304,541 | ||||||
Largan Precision Co., Ltd. | 10,000 | 224,180 | ||||||
Lite-On Technology Corp. | 422,692 | 574,451 | ||||||
Nan Ya Printed Circuit Board Corp. | 30,000 | 75,418 | ||||||
Pegatron Corp. | 237,441 | 323,093 | ||||||
Quanta Computer, Inc. | 422,000 | 1,043,659 | ||||||
Synnex Technology International Corp. | 217,053 | 550,090 | ||||||
Unimicron Technology Corp. | 422,000 | 552,694 | ||||||
Wistron Corp. | 442,468 | 736,794 | ||||||
Yageo Corp. | 313,000 | 105,199 | ||||||
20,366,979 | ||||||||
Telecommunication Services 0.6% | ||||||||
Chunghwa Telecom Co. Ltd. ADR | 61,190 | 1,860,788 | ||||||
Far EasTone Telecommunications Co., Ltd. | 295,000 | 619,183 | ||||||
Taiwan Mobile Co., Ltd. | 272,600 | 838,312 | ||||||
3,318,283 | ||||||||
Transportation 0.1% | ||||||||
China Airlines Ltd. | 211,000 | 100,131 | ||||||
Eva Airways Corp. | 261,000 | 178,019 | ||||||
Evergreen Marine Corp. | 306,199 | 214,577 | ||||||
Yang Ming Marine Transport Corp. | 226,200 | 131,583 | ||||||
624,310 | ||||||||
70,841,542 | ||||||||
Thailand 2.2% | ||||||||
Banks 0.7% | ||||||||
Bangkok Bank Public Co., Ltd. NVDR | 84,400 | 504,755 | ||||||
Kasikornbank Public Co., Ltd. NVDR | 253,200 | 1,225,634 | ||||||
Krung Thai Bank Public Co., Ltd. NVDR | 1,012,800 | 582,280 | ||||||
Siam Commercial Bank Public Co., Ltd. NVDR | 316,500 | 1,359,491 | ||||||
3,672,160 | ||||||||
Energy 0.7% | ||||||||
Banpu Public Co., Ltd. NVDR | 21,100 | 451,769 | ||||||
IRPC PCL NVDR | 2,553,100 | 399,858 |
62 See financial notes
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
PTT Exploration & Production Public Co., Ltd. NVDR | 211,000 | 1,286,288 | ||||||
PTT PCL NVDR | 126,600 | 1,518,447 | ||||||
3,656,362 | ||||||||
Food & Staples Retailing 0.2% | ||||||||
CP ALL PCL NVDR | 485,300 | 1,062,320 | ||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Charoen Pokphand Foods Public Co., Ltd. NVDR | 654,100 | 783,450 | ||||||
Materials 0.3% | ||||||||
Indorama Ventures PCL | 211,000 | 280,613 | ||||||
PTT Global Chemical PCL | 218,014 | 536,661 | ||||||
The Siam Cement Public Co., Ltd. NVDR | 63,300 | 746,674 | ||||||
1,563,948 | ||||||||
Media 0.0% | ||||||||
BEC World PCL | 147,700 | 215,950 | ||||||
Real Estate 0.0% | ||||||||
Central Pattana PCL | 84,400 | 114,337 | ||||||
Telecommunication Services 0.2% | ||||||||
Advanced Info Service Public Co., Ltd. NVDR | 189,900 | 1,003,932 | ||||||
Total Access Communication PCL | 63,300 | 144,838 | ||||||
1,148,770 | ||||||||
Transportation 0.0% | ||||||||
Airports of Thailand PCL | 63,300 | 110,328 | ||||||
Thai Airways International PCL | 63,300 | 54,380 | ||||||
164,708 | ||||||||
Utilities 0.0% | ||||||||
Electricity Generating PCL | 42,200 | 131,766 | ||||||
12,513,771 | ||||||||
Turkey 1.3% | ||||||||
Banks 0.6% | ||||||||
Akbank T.A.S. | 253,027 | 1,017,354 | ||||||
Turkiye Garanti Bankasi A/S | 202,771 | 771,156 | ||||||
Turkiye Halk Bankasi A/S | 79,547 | 549,009 | ||||||
Turkiye Is Bankasi, C Shares | 254,466 | 606,305 | ||||||
Yapi ve Kredi Bankasi A/S * | 163,947 | 313,630 | ||||||
3,257,454 | ||||||||
Capital Goods 0.1% | ||||||||
Enka Insaat ve Sanayi A/S | 35,941 | 102,721 | ||||||
Koc Holding A/S | 186,102 | 775,980 | ||||||
878,701 | ||||||||
Diversified Financials 0.1% | ||||||||
Haci Omer Sabanci Holding A/S | 116,683 | 505,240 | ||||||
Energy 0.1% | ||||||||
Tupras-Turkiye Petrol Rafinerileri A/S | 19,834 | 490,752 | ||||||
Food & Staples Retailing 0.1% | ||||||||
BIM Birlesik Magazalar A/S | 15,192 | 535,129 | ||||||
Food, Beverage & Tobacco 0.1% | ||||||||
Anadolu Efes Biracilik ve Malt Sanayii A/S | 39,668 | 602,080 | ||||||
Materials 0.1% | ||||||||
Eregli Demir ve Celik Fabrikalari TAS (Erdemir) | 212,568 | 499,172 | ||||||
Real Estate 0.0% | ||||||||
Emlak Konut Gayrimenkul Yatirim Ortakligi REIT | 130,820 | 173,832 | ||||||
Telecommunication Services 0.1% | ||||||||
Turk Telekomunikasyon A/S | 42,200 | 181,277 | ||||||
Turkcell Iletisim Hizmetleri A/S * | 25,320 | 139,220 | ||||||
320,497 | ||||||||
Transportation 0.0% | ||||||||
Turk Hava Yollari Anonim Ortakligi (THY) * | 153,186 | 233,383 | ||||||
7,496,240 | ||||||||
United Arab Emirates 0.2% | ||||||||
Diversified Financials 0.0% | ||||||||
Dubai Financial Market * | 79,980 | 23,299 | ||||||
Real Estate 0.1% | ||||||||
Aldar Properties PJSC * | 176,617 | 59,145 | ||||||
Emaar Properties PJSC | 454,168 | 390,735 | ||||||
449,880 | ||||||||
Transportation 0.1% | ||||||||
DP World Ltd. | 43,554 | 535,279 | ||||||
1,008,458 | ||||||||
Total Common Stock | ||||||||
(Cost $501,838,415) | 526,538,639 | |||||||
Preferred Stock 5.8% of net assets | ||||||||
Brazil 5.8% | ||||||||
Banks 1.9% | ||||||||
Banco do Estado do Rio Grande do Sul | 21,100 | 251,445 | ||||||
Itau Unibanco Holding S.A. ADR | 365,452 | 7,692,764 | ||||||
Itausa - Investimentos Itau S.A. | 435,715 | 3,045,361 | ||||||
10,989,570 | ||||||||
Food & Staples Retailing 0.2% | ||||||||
Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR (a) | 21,100 | 986,636 | ||||||
Food, Beverage & Tobacco 1.3% | ||||||||
Companhia de Bebidas das Americas ADR | 177,240 | 7,091,372 | ||||||
Materials 1.9% | ||||||||
Bradespar S.A. | 42,200 | 890,012 | ||||||
Klabin S.A. | 105,500 | 524,766 | ||||||
Metalurgica Gerdau S.A. | 42,200 | 561,634 | ||||||
Usinas Siderurgicas de Minas Gerais S.A., A Shares | 84,400 | 572,695 | ||||||
Vale S.A. ADR | 325,020 | 7,988,992 | ||||||
10,538,099 | ||||||||
Retailing 0.1% | ||||||||
Lojas Americanas S.A. | 67,731 | 721,927 |
See financial notes 63
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Telecommunication Services 0.0% | ||||||||
Telemar Norte Leste S.A. | 2,110 | 52,858 | ||||||
Utilities 0.4% | ||||||||
AES Tiete S.A. | 21,100 | 312,770 | ||||||
Centrais Eletricas Brasileiras S.A. ADR | 45,998 | 702,390 | ||||||
Cia de Transmissao de Energia Electrica Paulista | 4,026 | 135,630 | ||||||
Companhia Energetica de Sao Paulo, B Shares | 21,100 | 462,212 | ||||||
Eletropaulo Metropolitana S.A. | 21,100 | 454,346 | ||||||
2,067,348 | ||||||||
Total Preferred Stock | ||||||||
(Cost $30,330,967) | 32,447,810 | |||||||
Other Investment Company 0.5% of net assets | ||||||||
United States 0.5% | ||||||||
State Street Institutional U.S. Government Money Market Fund | 2,727,804 | 2,727,804 | ||||||
Total Other Investment Company | ||||||||
(Cost $2,727,804) | 2,727,804 | |||||||
Security | Face Amount | Value | ||||||
Rate, Maturity Date | (local currency) | ($) | ||||||
Corporate Bonds 0.0% of net assets | ||||||||
India 0.0% | ||||||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||||||
Dr. Reddy’s Laboratories Ltd. 9.25%, 03/24/14 (INR) | 285,360 | 305 | ||||||
Total Corporate Bond | ||||||||
(Cost $500) | 305 | |||||||
End of Investments | ||||||||
Number | Value | |||||||
Security | of Shares | ($) | ||||||
Collateral Invested for Securities on Loan 1.1% of net assets | ||||||||
State Street Institutional U.S. Government Money Market Fund | 6,322,107 | 6,322,107 | ||||||
Total Collateral Invested for Securities on Loan | ||||||||
(Cost $6,322,107) | 6,322,107 | |||||||
End of Collateral Invested for Securities on Loan |
At 2/29/12, the tax basis cost of the fund’s investments was $535,495,112 and the unrealized appreciation and depreciation were $48,744,745 and ($22,525,299), respectively, with a net unrealized appreciation of $26,219,446.
* | Non-income producing security. | |
(a) | All or a portion of this security is on loan. | |
(b) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $230,168 or 0.0% of net assets. | |
(c) | Illiquid security. At the period end, the value of these amounted to $394,904 or 0.1% of net assets. | |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt | |
GDR — | Global Depositary Receipt | |
NVDR — | Non-Voting Depositary Receipt | |
Reg’d — | Registered | |
REIT — | Real Estate Investment Trust | |
INR — | Indian Rupee |
64 See financial notes
Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
The following is a summary of the inputs used to value the fund’s investments as of February 29, 2012 (see financial note 2(a) for additional information):
Quoted Prices in | Significant | |||||||||||||||
Active Markets for | Significant Other | Unobservable | ||||||||||||||
Identical Assets | Observable Inputs | Inputs | ||||||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||||||
Common Stock(a) | $526,373,903 | $— | $— | $526,373,903 | ||||||||||||
Pakistan(a) | — | — | 164,736 | 164,736 | ||||||||||||
Preferred Stock(a) | 32,447,810 | — | — | 32,447,810 | ||||||||||||
Other Investment Company(a) | 2,727,804 | — | — | 2,727,804 | ||||||||||||
Corporate Bonds(a) | — | 305 | — | 305 | ||||||||||||
Total | $561,549,517 | $305 | $164,736 | $561,714,558 | ||||||||||||
Other Financial Instruments | ||||||||||||||||
Collateral Invested for Securities on Loan | $6,322,107 | $— | $— | $6,322,107 |
(a) | As categorized in Portfolio Holdings. |
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
Balance | Change in | Balance | ||||||||||||||||||||||||||||||
as of | Realized | Unrealized | Gross | Gross | as of | |||||||||||||||||||||||||||
August 31, | Gains | Gains | Gross | Gross | Transfers | Transfers | February 29, | |||||||||||||||||||||||||
Investments in Securities | 2011 | (Losses) | (Losses) | Purchases | Sales | in* | out* | 2012 | ||||||||||||||||||||||||
Common Stock | ||||||||||||||||||||||||||||||||
Pakistan | $— | $— | $15,974 | $— | $— | $148,762 | $— | $164,736 | ||||||||||||||||||||||||
Total | $— | $— | $15,974 | $— | $— | $148,762 | $— | $164,736 | ||||||||||||||||||||||||
* | All security transfers in and out of Level 3 from Level 1 or Level 2 were the result of fair valued securities for which no quoted value was available. |
All net realized and change in unrealized gains (losses) on Level 3 investments in the tables above are reflected on the accompanying Statements of Operations. Changes in net unrealized gains (losses) for Level 3 investments held by the fund at February 29, 2012 are $15,974.
There were no significant transfers between Level 1 and Level 2 for the period ended February 29, 2012.
See financial notes 65
Schwab Emerging Markets Equity ETF
Statement of
Assets and Liabilities
As of February 29, 2012; unaudited
Assets | ||||||
Investments, at value (cost $534,897,686) including securities on loan of $5,939,609 | $561,714,558 | |||||
Collateral invested for securities on loan | 6,322,107 | |||||
Foreign currency, at value (cost $597,850) | 604,741 | |||||
Receivables: | ||||||
Dividends | 718,886 | |||||
Income from securities on loan | 10,696 | |||||
Foreign tax reclaims | 1,048 | |||||
Interest | + | 508 | ||||
Total assets | 569,372,544 | |||||
Liabilities | ||||||
Collateral held for securities on loan | 6,322,107 | |||||
Payables: | ||||||
Investments bought | 159,143 | |||||
Investment adviser fees | + | 11,411 | ||||
Total liabilities | 6,492,661 | |||||
Net Assets | ||||||
Total assets | 569,372,544 | |||||
Total liabilities | − | 6,492,661 | ||||
Net assets | $562,879,883 | |||||
Net Assets by Source | ||||||
Capital received from investors | 546,780,793 | |||||
Net investment income not yet distributed | 513,460 | |||||
Net realized capital losses | (11,243,412 | ) | ||||
Net unrealized capital gains | 26,829,042 | |||||
Net Asset Value (NAV) |
Shares | ||||||||||||
Net Assets | ÷ | Outstanding | = | NAV | ||||||||
$562,879,883 | 21,100,001 | $26.68 |
66 See financial notes
Schwab Emerging Markets Equity ETF
Statement of
Operations
For September 1, 2011 through February 29, 2012; unaudited
Investment Income | ||||||
Dividends (net of foreign withholding tax of $304,135) | $3,369,747 | |||||
Interest (net of foreign withholding tax of $39) | 1,304 | |||||
Securities on loan | + | 48,354 | ||||
Total investment income | 3,419,405 | |||||
Expenses | ||||||
Investment adviser fees | 520,682 | |||||
Total expenses | − | 520,682 | ||||
Net investment income | 2,898,723 | |||||
Realized and Unrealized Gains (Losses) | ||||||
Net realized losses on investments | (7,038,436 | ) | ||||
Net realized losses on foreign currency transactions* | + | (167,882 | ) | |||
Net realized losses | (7,206,318 | ) | ||||
Net unrealized gains on investments (net of foreign capital gains tax of $177,964) | 41,470,030 | |||||
Net unrealized gains on foreign currency translations | + | 11,705 | ||||
Net unrealized gains | + | 41,481,735 | ||||
Net realized and unrealized gains | 34,275,417 | |||||
Net increase in net assets resulting from operations | $37,174,140 |
* | Includes foreign currency acquisition costs on Brazilian Real of $73,205 |
See financial notes 67
Schwab Emerging Markets Equity ETF
Statements of
Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
Figures for the current period are unaudited
Operations | ||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||
Net investment income | $2,898,723 | $9,204,802 | ||||||||
Net realized losses | (7,206,318 | ) | (3,072,159 | ) | ||||||
Net unrealized gains (losses) | + | 41,481,735 | (12,954,201 | ) | ||||||
Net increase (decrease) in net assets resulting from operations | 37,174,140 | (6,821,558 | ) | |||||||
Distributions to Shareholders | ||||||||||
Distributions from net investment income | ($9,535,681 | ) | ($2,235,300 | ) |
Transactions in Fund Shares
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | VALUE | SHARES | VALUE | |||||||||||||||
Shares Sold | 5,900,000 | $138,580,311 | 9,600,000 | $269,795,240 | ||||||||||||||
Shares Redeemed | + | — | — | (500,000 | ) | (12,298,874 | ) | |||||||||||
Net transactions in fund shares | 5,900,000 | $138,580,311 | 9,100,000 | $257,496,366 | ||||||||||||||
Shares Outstanding and Net Assets | ||||||||||||||||||
9/1/11-2/29/12 | 9/1/10-8/31/11 | |||||||||||||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||||||||||||
Beginning of period | 15,200,001 | $396,661,113 | 6,100,001 | $148,221,605 | ||||||||||||||
Total increase | + | 5,900,000 | 166,218,770 | 9,100,000 | 248,439,508 | |||||||||||||
End of period | 21,100,001 | $562,879,883 | 15,200,001 | $396,661,113 | ||||||||||||||
Net investment income not yet distributed | $513,460 | $7,150,418 |
68 See financial notes
Schwab International ETFs
Financial Notes, unaudited
1. Business Structure of the Funds
Each of the funds discussed in this report is a series of Schwab Strategic Trust (the “trust”), a no-load, open-end management investment company. The trust is organized as a Delaware statutory trust and is registered under the Investment Company Act of 1940, as amended (the “1940 Act”). The list below shows all the funds in the trust as of the end of the period, including the funds discussed in this report, which are highlighted:
Schwab Strategic Trust (organized January 27, 2009) | Schwab U.S. Mid-Cap ETF | |||
Schwab International Equity ETF | Schwab U.S. Small-Cap ETF | |||
Schwab International Small-Cap Equity ETF | Schwab U.S. Dividend Equity ETF | |||
Schwab Emerging Markets Equity ETF | Schwab U.S. REIT ETF | |||
Schwab U.S. Broad Market ETF | Schwab U.S. TIPS ETF | |||
Schwab U.S. Large-Cap ETF | Schwab Short-Term U.S. Treasury ETF | |||
Schwab U.S. Large-Cap Growth ETF | Schwab Intermediate-Term U.S. Treasury ETF | |||
Schwab U.S. Large-Cap Value ETF | Schwab U.S. Aggregate Bond ETF | |||
The funds issue and redeem shares at their net assets value (“NAV”) only in large blocks of shares, typically 50,000 shares or more (“Creation Units”). These transactions are usually in exchange for a basket of securities and an amount of cash. As a practical matter, only institutions or large investors purchase or redeem Creation Units. Except when aggregated in Creation Units, shares of the fund are not redeemable securities.
Individual shares of the funds trade on national securities exchanges and elsewhere during the trading day and can only be bought and sold at market prices throughout the trading day through a broker-dealer. Because fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV (premium) or less than NAV (discount).
Each fund maintains its own account for purposes of holding assets and accounting, and is considered a separate entity for tax purposes. Within its account, each fund may also keep certain assets in segregated accounts, as required by securities law.
2. Significant Accounting Policies:
The following is a summary of the significant accounting policies the funds use in their preparation of financial statements. The accounting policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”)
(a) Security Valuation:
The funds value the securities in their portfolios every business day. The funds use the following policies to value various types of securities:
• | Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported, halfway between the most recent bid and asked quotes. Securities that are primarily traded on foreign exchanges are valued at the closing values of such securities on their respective exchanges with these values then translated into U.S. dollars at the valuation date exchange rate unless these securities are fair valued as discussed below. | |
• | Securities for which no quoted value is available: The Board of Trustees has adopted procedures to fair value each fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when a security is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. Each fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Board of Trustees regularly reviews fair value determinations made by the funds pursuant to the procedures. | |
• | Bonds and notes: valued at the bid or at halfway between the most recent bid and asked quotes or, if such quotes are unavailable, at prices for securities of comparable maturity, credit quality and type. Valuations for bonds and notes are provided by an independent bond-pricing service. | |
• | Forward contracts: value based on that day’s exchange rates. | |
• | Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value. | |
• | Underlying funds: valued at their respective net asset values. |
69
Schwab International ETFs
Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the funds disclose the fair value of their investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the funds determine that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
The three levels of the fair value hierarchy are as follows:
• | Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities. The funds do not adjust the quoted price for such investments, even in situations where the funds hold a large position and a sale could reasonably impact the quoted prices. | |
• | Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information. | |
• | Level 3 — significant unobservable inputs (including the funds’ own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the funds in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the funds in the absence of market information. Assumptions used by the funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the funds’ results of operations. |
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year.
The levels associated with valuing the funds’s investment for the period ended February 29, 2012 are disclosed in the Portfolio Holdings.
(b) Accounting Policies for certain Portfolio Investments (if held):
Securities Lending: Under the Securities Lending Program, a fund (the “lender”) may make short-term loans of its securities to another party (the “borrower”) to generate additional revenue for the fund. The borrower pledges collateral in the form of cash, securities issued or fully guaranteed by the U.S. government or foreign government, or letters of credit issued by a bank. The initial collateral received by a fund is required to have a value of at least 102% of the current market value of the loaned securities for securities traded on U.S. exchanges and a value of at least 105% for all other securities. The collateral is maintained thereafter, at a value equal to at least 100% of the current market value of the securities on loan and is marked to market daily. The cash collateral of securities loaned is invested in money market portfolios registered under Rule 2a-7 of the 1940 Act. Securities lending income, as disclosed in a fund’s Statement of Operations, represents the income earned from the investment of the cash collateral plus any fees paid by borrowers, less the fees paid to the lending agent which are subject to adjustments pursuant to the securities lending agreement.
70
Schwab International ETFs
Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
If applicable, the value of the securities on loan as of February 29, 2012 and the value of the related collateral are disclosed in the Portfolio Holdings and the Statement of Assets and Liabilities.
(c) Security Transactions:
Security transactions are recorded as of the date the order to buy or sell the security is executed. Realized gains and losses from security transactions are based on the identified costs of the securities involved.
Assets and liabilities denominated in foreign currencies are reported in U.S. dollars. For assets and liabilities held on a given date, the dollar value is based on market exchange rates in effect on that date. Transactions involving foreign currencies, including purchases, sales, income receipts and expense payments, are calculated using exchange rates in effect on the transaction date. Realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions and the differences between the recorded amounts of dividends, interest, and foreign withholdings taxes and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains and losses arise from changes in foreign exchange rates on foreign denominated assets and liabilities other than investments in securities held at the end of the reporting period. The funds do not isolate the portion of the fluctuations on investments resulting from changes in foreign currency exchange rates from the fluctuations in market prices of investments held. Such fluctuations are included with the net realized and unrealized gain or loss from investments.
Gains realized by the funds on the sale of securities in certain foreign countries may be subject to non-U.S. taxes. The funds record a liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.
When a fund closes out a forwards position, it calculates the difference between the value of the position at the beginning and at the end of the contract, and records a realized gain or loss accordingly. A fund records the daily change in market value of futures and also the change in the amount of margin deposit required (“due to / from broker”).
(d) Investment Income:
Interest income is recorded as it accrues. Dividends and distributions from portfolio securities and underlying funds are recorded on the date they are effective (the ex-dividend date), although the funds record certain foreign security dividends on the day they learn of the ex-dividend date.
(e) Expenses:
Expenses that are specific to a fund are charged directly to the fund. The investment adviser will pay the operating expenses of the funds, excluding interest expenses, taxes, any brokerage expenses, and extraordinary or non-routine expenses.
(f) Distributions to Shareholders:
The funds make distributions from net investment income and distribute net realized capital gains, if any, once a year.
(g) Accounting Estimates:
The accounting policies described in this report conform with accounting principles generally accepted in the United States of America. Notwithstanding this, shareholders should understand that in order to follow these principles, fund management has to make estimates and assumptions that affect the information reported in the financial statements. It’s possible that once the results are known, they may turn out to be different from these estimates and these differences may be material.
(h) Federal Income Taxes:
The funds intend to meet federal income and excise tax requirements for regulated investment companies. Accordingly, the funds distribute substantially all of their net investment income and realized net capital gains, if any, to their respective shareholders each year. As long as a fund meets the tax requirements, it is not required to pay federal income tax.
(i) Foreign Taxes:
The funds may be subject to foreign taxes (a portion of which may be reclaimable) on income, corporate events, foreign currency exchanges, capital gains on investments on currency repatriation. All foreign taxes are recorded in accordance with the
71
Schwab International ETFs
Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
applicable foreign tax regulations and rates that exist in foreign markets in which the funds invest. These foreign taxes, if any, are paid by the funds and are disclosed in the Statement of Operations. Foreign taxes payable as of February 29, 2012, if any, are reflected in the funds’ Statement of Assets and Liabilities.
(j) Indemnification:
Under the funds’ organizational documents, the officers and trustees are indemnified against certain liabilities arising out of the performance of their duties to the funds. In addition, in the normal course of business the funds enter into contracts with their vendors and others that provide general indemnifications. The funds’ maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the funds. However, based on experience, the funds expect the risk of loss to be remote.
(k) New Accounting Pronouncements:
In April 2011, the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Updates (“ASU”) related to accounting for repurchase agreements and similar agreements that both entitle and obligate a transferor to repurchase or redeem financial assets before their maturity. The ASU modifies the criteria for determining effective control of transferred assets and as a result certain agreements may now be accounted for as secured borrowings. The ASU is effective prospectively for new and existing transfers that are modified in the first interim or annual period beginning on or after December 15, 2011.
In May 2011, the FASB issued an update to requirements relating to “Fair Value Measurement which represents amendments to achieve common fair value measurement and disclosure requirements in US GAAP and IFRS.” The amendments include (i) those that clarify the FASB’s intent about the application of existing fair value measurement and disclosure requirements and (ii) those that change a particular principle or requirement for measuring fair value or for disclosing information about fair value measurements. The amendments that change a particular principle or requirement for measuring fair value or disclosing information about fair value measurements relate to (i) measuring the fair value of the financial instruments that are managed within a portfolio; (ii) application of premium and discount in a fair value measurement; and (iii) additional disclosures about fair value measurements. The update is effective for annual periods beginning after December 15, 2011 with early adoption prohibited.
At this time, management is evaluating the implications of these changes and their impact on the financial statements.
3. Risk Factors:
Investing in the funds may involve certain risks, as described in the funds’ prospectus, including, but not limited to, those described below. Any of these risks could cause an investor to lose money.
Stock markets rise and fall daily. As with any investment whose performance is tied to these markets, the value of the investment in a fund will fluctuate, which means that the investors could lose money.
The funds are not actively managed. Therefore, a fund follows the securities included in an index during upturns as well as downturns. Because of the indexing strategies, a fund does not take steps to reduce market exposure or to lessen the effects of a declining market. In addition, because of a fund’s expenses, a fund’s performance is normally below that of the index.
The prices of equity securities rise and fall daily. These price movements may result from factors affecting individual companies, industries or the securities market as a whole. In addition, equity markets tend to move in cycles, which may cause stock prices to fall over short or extended periods of time.
Certain funds invest in large- and mid-cap stocks. Both large- and mid-cap stocks tend to go in and out of favor based on market and economic conditions. However, stocks of mid-cap companies tend to be more vulnerable to adverse business or economic events than larger more established companies. During a period when large- and mid-cap U.S. stocks fall behind other types of investments — small-cap stocks, for instance — a fund’s large- and mid-cap holdings could reduce performance.
Certain funds invest in small-cap stocks. Historically, small-cap stocks have been riskier than large- and mid-cap stocks, and their prices may move sharply, especially during market upturns and downturns. Small-cap companies may be more vulnerable to adverse business or economic events than larger, more established companies. During a period when small-cap stocks fall
72
Schwab International ETFs
Financial Notes, unaudited (continued)
3. Risk Factors (continued):
behind other types of investments — large-cap and mid-cap stocks, for instance — a fund’s small-cap holdings could reduce performance.
A fund’s investments in securities of foreign issuers may involve certain risks that are greater than those associated with investments in securities of U.S. issuers. These include risks of adverse changes in foreign economic, political, regulatory and other conditions; changes in currency exchange rates or exchange control regulations (including limitations on currency movements and exchanges); differing accounting, auditing, financial reporting and legal standards and practices; differing securities market structures; and higher transaction costs. These risks may be heightened in connection with investments in emerging markets. Foreign securities also include ADRs, GDRs, and EDRs, which are receipts issued by U.S. and foreign banks that represent shares of foreign-based corporations. Investment in ADRs, GDRs and EDRs may be less liquid than the underlying shares in their primary trading market and GDRs, many of which are issued by companies in emerging markets, may be more volatile.
Certain funds invest in emerging markets. Emerging markets may be more likely to experience political turmoil or rapid changes in market or economic conditions than more developed countries. Emerging market countries often have less uniformity in accounting and reporting requirements, unreliable securities valuation and greater risk associated with the custody of securities. It is sometimes difficult to obtain and enforce court judgments in such countries, and there is often a greater potential for nationalization and/or expropriation of assets by the government of an emerging market country. In addition, the financial stability of issuers (including governments) in emerging market countries may be more precarious than in other countries. As a result, there will tend to be an increased risk of price volatility associated with a fund’s investments in emerging market countries, which may be magnified by currency fluctuations relative to the U.S. dollar.
A fund may not fully replicate the index and may hold securities not included in the index. As a result, a fund is subject to the risk that the adviser’s investment management strategy, the implementation of which is subject to a number of constraints, may not produce the intended results. Because a fund utilizes a sampling approach it may not track the return of the index as well as it would if a fund purchased all of the securities in its benchmark index.
As an index fund, a fund seeks to track the performance of its benchmark index, although it may not be successful in doing so. The divergence between the performance of a fund and its benchmark index, positive or negative, is called “tracking error.” Tracking error can be caused by many factors and it may be significant.
A fund may invest in derivative instruments. The principal types of derivatives a fund may use are futures contracts. A futures contract is an agreement to buy or sell a financial instrument at a specific price on a specific day. A fund’s use of derivative instruments involves risks different from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. Certain of these risks, such as market risk and liquidity risk, are discussed elsewhere in this section. A fund’s use of derivatives is also subject to leverage risk, credit risk, lack of availability risk, valuation risk, correlation risk and tax risk. Leverage risk is the risk that use of derivatives may magnify the effect of any decrease or increase in the value of the fund’s portfolio securities. Credit risk is the risk that the counterparty to a derivative transaction may not fulfill its contractual obligations. Lack of availability risk is the risk that suitable derivative transactions may not be available in all circumstances for risk management or other purposes. Valuation risk is the risk that a particular derivative may be valued incorrectly. Correlation risk is the risk that changes in the value of the derivative may not correlate perfectly with the underlying asset, rate or index. Tax risk is the risk that the use of derivatives may cause a fund to realize higher amounts of short-term capital gain. These risks could cause a fund to lose more than the principal amount invested.
A particular investment may be difficult to purchase or sell. A fund may be unable to sell illiquid securities at an advantageous time or price.
A fund may lend its portfolio securities to brokers, dealers, and other financial institutions provided a number of conditions are satisfied, including that the loan is fully collateralized. Securities lending involves the risk of loss of rights in the collateral or delay in recovery of the collateral if the borrower fails to return the security loaned or becomes insolvent.
To the extent that a fund’s or an index’s portfolio is concentrated in the securities of issuers in a particular market, industry, group of industries, sector or asset class, a fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more susceptible to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
73
Schwab International ETFs
Financial Notes, unaudited (continued)
3. Risk Factors (continued):
Although fund shares are listed on national securities exchanges, there can be no assurance that an active trading market for fund shares will develop or be maintained. If an active market is not maintained, investors may find it difficult to buy or sell fund shares.
Fund shares may be bought and sold in the secondary market at market prices. Although it is expected that the market price of the shares of a fund will approximate a fund’s NAV, there may be times when the market price and the NAV vary significantly. Investors may pay more than NAV when they buy shares of a fund in the secondary market, and may receive less than NAV when they sell those shares in the secondary market.
An investment in a fund is not a bank deposit and it is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
Please refer to the funds’ prospectus for a more complete description of the principal risks of investing in the funds.
4. Affiliates and Affiliated Transactions:
Charles Schwab Investment Management, Inc. (“CSIM” or the “investment adviser”), a wholly owned subsidiary of The Charles Schwab Corporation, serves as each fund’s investment adviser pursuant to an Investment Advisory Agreement (“Advisory Agreement”) between CSIM and the trust.
For its advisory services to the following funds, CSIM is entitled to receive an annual fee, payable monthly, based on a percentage of the fund’s average daily net assets as follows:
Schwab | Schwab | |||||||||
Schwab | International | Emerging | ||||||||
International | Small-Cap | Markets | ||||||||
Equity ETF | Equity ETF | Equity ETF | ||||||||
0.13% | 0.35% | 0.25% |
The investment adviser will pay the operating expenses of the funds, excluding interest expenses, taxes, any brokerage expenses, and extraordinary or non-routine expenses.
The funds may engage in certain transactions involving affiliates. For instance, a fund may own shares of The Charles Schwab Corporation if that company is included in its index. During the period ended February 29, 2012, there were no transactions involving affiliates.
The funds may engage in direct transactions with certain other Schwab ETFs when practical. When one fund is seeking to sell a security that another is seeking to buy, an interfund transaction can allow both funds to benefit by reducing transaction costs. This practice is limited to funds that share the same investment adviser, trustees and/or officers. For the period ended February 29, 2012, there were no direct security transactions with other Schwab ETFs.
Pursuant to an exemptive order issued by the SEC, the funds may enter into interfund borrowing and lending transactions with other Schwab Funds including Schwab ETFs. All loans are for temporary or emergency purposes only. The interest rate charged on the loan is the average of the overnight repurchase agreement rate and the short-term bank loan rate. The interfund lending facility is subject to the oversight and periodic review of the Board of Trustees of the Schwab Funds. The funds had no interfund borrowing or lending activity during the period.
5. Other Service Providers:
SEI Investments Distribution Co. (the “Distributor”) is the principal underwriter and distributor of shares of the funds.
State Street Bank and Trust Company (“State Street”) serves as the funds’ transfer agent. As part of these services, the transfer agent maintains records pertaining to the sale, redemption and transfer of the funds’ shares.
State Street also serves as custodian and accountant for the funds. The custodian is responsible for the daily safekeeping of securities and cash held or sold by the funds. The funds’ accountant maintains all books and records related to the funds’ transactions.
74
Schwab International ETFs
Financial Notes, unaudited (continued)
6. Board of Trustees:
Trustees may include people who are officers and/or directors of the investment adviser or its affiliate. Federal securities law limits the percentage of such “interested persons” who may serve on a trust’s board, and the trust was in compliance with these limitations throughout the report period. The trust did not pay any of these interested persons for their services as trustees.
7. Borrowing from Banks:
The funds have access to custodian overdraft facilities and to an uncommitted line of credit of $100 million with State Street. The funds pay interest on the amounts they borrow at rates that are negotiated periodically.
There were no borrowings from the line of credit by the funds during the period. However, the funds may have utilized their overdraft facility and incurred interest expense, which is disclosed on the Statement of Operations, if any. The interest expense is determined based on a negotiated rate above the current Federal Funds Rate.
8. Purchases and Sales/Maturities of Investment Securities:
For the period ended February 29, 2012, purchases and sales/maturities of securities (excluding in-kind transactions and short-term obligations) were as follows:
Purchases of Securities | Sales/Maturities of Securities | |||||||
Schwab International Equity ETF | $29,199,090 | $28,344,037 | ||||||
Schwab International Small-Cap Equity ETF | 25,799,191 | 25,414,746 | ||||||
Schwab Emerging Markets Equity ETF | 58,133,590 | 16,128,646 |
9. In-Kind Transactions:
The consideration for the purchase of Creation Units of a fund generally consists of the in-kind deposit of a designated portfolio of securities, which constitutes an optimized representation of the securities involved in a relevant fund’s underlying index, and an amount of cash. Investors purchasing and redeeming Creation Units may pay a purchase transaction fee and a redemption transaction fee directly to State Street Bank and Trust Company, the administrator, to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units.
The in-kind transactions for the period ended February 29, 2012 were as follows:
In-kind Purchases of Securities | In-kind Sales of Securities | |||||||
Schwab International Equity ETF | $102,078,719 | $— | ||||||
Schwab International Small-Cap Equity ETF | 20,517,554 | 10,069,724 | ||||||
Schwab Emerging Markets Equity ETF | 90,827,344 | — |
For the period ended February 29, 2012, certain funds realized net capital gains or losses resulting from in-kind redemptions of large blocks of shares or multiples thereof (“Creation Units”). Because such gains or losses are not taxable to the funds and are not distributed to existing fund shareholders, the gains or losses are reclassified from accumulated net realized gains or losses to paid-in-capital at the end of the funds’ tax year. These reclassifications have no effect on net assets or net asset values per share. The net realized in-kind gains or losses for the period ended February 29, 2012 are disclosed in the funds’ Statements of Operations.
10. Federal Income Taxes
Capital loss carryforwards may be used to offset future realized capital gains, for federal income tax purposes. As of August 31, 2011, the following funds had capital loss carryforwards available to offset future net capital gains before the expiration date as follows:
Schwab | Schwab | |||||||||||
Schwab | International | Emerging | ||||||||||
International | Small-Cap | Markets | ||||||||||
Expiration Date | Equity ETF | Equity ETF | Equity ETF | |||||||||
August 31, 2019 | $2,345,874 | $215,545 | $1,091,404 |
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Schwab International ETFs
Financial Notes, unaudited (continued)
10. Federal Income Taxes (continued):
For tax purposes, realized net capital losses occurring after October 31, may be deferred and treated as occurring on the first day of the following fiscal year. For the year ended August 31, 2011, capital losses deferred for each fund were as follows:
Schwab | Schwab | |||||||||||
Schwab | International | Emerging | ||||||||||
International | Small-Cap | Markets | ||||||||||
Equity ETF | Equity ETF | Equity ETF | ||||||||||
Deferred capital losses | $3,219,306 | $1,649,561 | $2,802,592 |
As of August 31, 2011, management has reviewed the tax positions for open periods (for federal purposes, three years from the date of filing and for state purposes, four years from the date of filing) as applicable to the funds, and has determined that no provision for income tax is required in the funds’ financial statements. The funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the year ended August 31, 2011, the funds did not incur any interest or penalties.
On December 22, 2010, the Regulated Investment Company Modernization Act of 2010 (“the Act”) was signed by the President. The Act is the first major piece of legislation affecting Regulated Investment Companies (“RICs”) since 1986 and it modernizes several of the federal income and excise tax provisions related to RICs.
Certain of the enacted provisions include:
Post-enactment capital losses may now be carried forward indefinitely, but must retain the character of the original loss. Under pre-enactment law, capital losses could be carried forward for eight years, and carried forward as short-term capital, irrespective of the character of the original loss. The Act contains simplification provisions, which are aimed at preventing disqualification of a RIC for “inadvertent” failures of the asset diversification and/or qualifying income tests. Additionally, the Act exempts RICs from the preferential dividend rule, and repeals the 60-day designation requirement for certain types of pay-through income and gains.
Finally, the Act contains several provisions aimed at preserving the character of distributions made by a fiscal year RIC during the portion of its taxable year ending after October 31 or December 31, reducing the circumstances under which a RIC might be required to file amended Forms 1099 to restate previously reported distributions.
Except for the simplification provisions related to RIC qualification, the Act is effective for taxable years beginning after December 22, 2010. The provisions related to RIC qualification are effective for taxable years for which the extended due date of the tax return is after December 22, 2010. The funds are fully compliant with the noted provisions of the Act for the period ending February 29, 2012.
11. Subsequent Events:
Management has determined there are no subsequent events or transactions through the date the financial statements were issued that would have materially impacted the financial statements as presented.
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Trustees and Officers
The tables below give information about the trustees and officers for the Schwab Strategic Trust which includes the funds covered in this report. The “Fund Complex” includes the Charles Schwab Family of Funds, Schwab Capital Trust, Schwab Investments, Schwab Annuity Portfolios, Schwab Strategic Trust, Laudus Trust and Laudus Institutional Trust. The Fund Complex includes 92 funds.
The address for all trustees and officers is 211 Main Street, San Francisco, CA 94105. You can find more information about the trustees and officers in the Statement of Additional Information, which is available free by calling 1-800-435-4000.
Independent Trustees
Name, Year of Birth, | Number of | |||||
and Position(s) with | Portfolios in | |||||
the trust; (Terms of | Fund Complex | |||||
office, and length of | Principal Occupations | Overseen by | ||||
Time Served1) | During the Past Five Years | the Trustee | Other Directorships | |||
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009.) | Retired (January 2009 – present). Consulting Managing Director, PIMCO (investment adviser) (January 2003 – December 2008); Managing Director, PIMCO (February 1999 – December 2002); President and Trustee, PIMCO Funds and PIMCO Variable Insurance Trust (investments) (February 1994 – May 2005). | 17 | Director, PS Business Parks, Inc. (2005 – present). Trustee, PIMCO Funds (investment company consisting of 84 portfolios) (1997 – 2008). Trustee, PIMCO Variable Insurance Trust (investment company consisting of 16 portfolios) (1997 – 2008). Director and Chairman, PIMCO Strategic Global Government Fund (investment company consisting of one portfolio) (1997 – 2008). Director, PCM Fund, Inc. (investment company consisting of one portfolio) (1997 – 2008). | |||
Mark A. Goldfarb 1952 Trustee (Trustee of Schwab Strategic Trust since 2009.) | Founder and Managing Director, SS&G, Inc. (certified public accountants and advisers) (May 1987 – present). | 17 | None | |||
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009.) | Advisor (January 2008 – present) and Chief Executive Officer (January 1998 – January 2008), Asset International, Inc. (publisher of financial services information); Managing Partner and Co-Founder, Kudu Advisors, LLC (financial services) (June 2008 – present). | 17 | None | |||
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Interested Trustees
Name, Year of Birth, | Number of | |||||
and Position(s) with | Portfolios in | |||||
the trust; (Terms of | Fund Complex | |||||
office, and length of | Principal Occupations | Overseen by | ||||
Time Served ) | During the Past Five Years | the Trustee | Other Directorships | |||
Walter W. Bettinger II2 1960 Trustee (Trustee of Schwab Strategic Trust since 2009.) | As of October 2008, President and Chief Executive Officer, Charles Schwab & Co., Inc. and The Charles Schwab Corporation. Since October 2008, Director, The Charles Schwab Corporation. Since May 2008, Director, Charles Schwab & Co., Inc. and Schwab Holdings, Inc. Since 2006, Director, Charles Schwab Bank. From 2004 through 2007, Executive Vice President and President, Schwab Investor Services. From 2004 through 2005, Executive Vice President and Chief Operating Officer, Individual Investor Enterprise, and from 2002 through 2004, Executive Vice President, Corporate Services. Until October 2008, President and Chief Operating Officer, Charles Schwab & Co., Inc. and The Charles Schwab Corporation. | 92 | None | |||
Officers of the Trust
Name, Year of Birth, and Position(s) | ||
with the trust; (Terms of office, and | ||
length of Time Served3) | Principal Occupations During the Past Five Years | |
Marie Chandoha 1961 President and Chief Executive Officer (Officer of Schwab Strategic Trust since 2010.) | Executive Vice President, Charles Schwab & Co., Inc. (Sept. 2010 – present); Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (March 2007 – August 2010); Co-Head and Senior Portfolio Manager, Wells Capital Management (June 1999 – March 2007). | |
George Pereira 1964 Treasurer and Principal Financial Officer (Officer of Schwab Strategic Trust since 2009.) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present); Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – present); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – present) and Schwab ETFs (Oct. 2009 – present); Director, Charles Schwab Worldwide Fund, PLC and Charles Schwab Asset Management (Ireland) Limited (April 2005 – present); Treasurer, Chief Financial Officer and Chief Accounting Officer, Excelsior Funds Inc., Excelsior Tax-Exempt Funds, Inc., and Excelsior Funds Trust (June 2006 – June 2007). | |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities (Officer of Schwab Strategic Trust since 2011.) | Senior Vice President and Chief Investment Officer — Equities, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer — Equities, Schwab Funds and Laudus Funds (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – April 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). | |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of Schwab Strategic Trust since 2011.) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (April 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds and Laudus Funds (June 2011 – present); Senior Managing Director, Global Head of Active Fixed Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies, Loomis, Sayles & Company (April 2006 – Jan. 2008); Managing Director, Head of Market-Based Strategies State Street Research (August 2003 – Jan. 2005). | |
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Officers of the Trust (continued)
Name, Year of Birth, and Position(s) | ||
with the trust; (Terms of office, and | ||
length of Time Served3) | Principal Occupations During the Past Five Years | |
David Lekich 1964 Secretary and Chief Legal Officer (Officer of Schwab Strategic Trust since 2011.) | Senior Vice President, Charles Schwab & Co., Inc. (Sept. 2011 – present); Senior Vice President and Chief Counsel, Charles Schwab Investment Management Inc. (Sept. 2011 – present); Vice President, Charles Schwab & Co., Inc., (March 2004 – Sept. 2011) and Charles Schwab Investment Management, Inc. (Jan 2011 – Sept. 2011); Secretary (April 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds (April 2011 – present); Vice President and Assistant Clerk, Laudus Funds (April 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. | |
Catherine MacGregor 1964 Vice President and Assistant Secretary (Officer of Schwab Strategic Trust since 2009.) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (March 2007 – present), Laudus Funds; Vice President and Assistant Secretary, Schwab Funds (June 2007 – present) and Schwab ETFs (Oct. 2009 – present). | |
Michael Haydel 1972 Vice President (Officer of Schwab Strategic Trust since 2009.) | Senior Vice President (March 2011 – present), Vice President (2004 – March 2011), Asset Management Client Services, Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Anti-Money Laundering Officer (Oct. 2005 – Feb. 2009), Laudus Funds; Vice President, Schwab Funds (June 2007 – present) and Schwab ETFs (Oct. 2009 – present). | |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The Trust’s retirement policy requires that independent trustees retire by December 31 of the year in which the Trustee turns 72 or the Trustee’s twentieth year of service as an independent trustee, whichever comes first. | |
2 | Mr. Bettinger is an Interested Trustee because he is an employee of Schwab and/or the investment adviser. In addition to his employment with the investment adviser and Schwab, Mr. Bettinger also owns stock of The Charles Schwab Corporation. | |
3 | The President, Treasurer and Secretary hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
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Glossary
American Depositary Receipt (ADR) U.S. dollar-denominated receipts issued by U.S. banks or trust companies that represent shares of foreign-based corporations.
ask See “offer.”
asset allocation The practice of dividing a portfolio among different asset classes, with each asset class assigned a particular percentage to help offset risks and rewards, based on your goals, time horizon and risk tolerance.
asset class A group of securities with similar structure and basic characteristics. Stocks, bonds and cash are the three main examples of asset classes.
authorized participant (AP) A large institutional investor that places orders for creation units with the funds’ distributor.
beta A historical measure of an investment’s volatility relative to a market index (usually the S&P 500®). The index is defined as having a beta of 1.00. Investments with a beta higher than 1.00 have been more volatile than the index; those with a beta of less than 1.00 have been less volatile.
bid The highest price at which someone is willing to buy a security.
cap, capitalization See “market cap.”
capital gain, capital loss The difference between the amount paid for an investment and its value at a later time. If the investment has been sold, the capital gain or loss is considered a realized gain or loss. If the investment is still held, the gain or loss is still “on paper” and is considered unrealized.
commencement of operations The date that the first NAV was calculated.
creation unit (C.U.) A basket of securities that is delivered by an authorized participant (AP) to the fund equal to the current holdings of the ETF, plus a designated cash component. In return, the APs receive a large block of ETF shares (typically 50,000 shares), which investors can then buy and sell in the secondary market.
exchange A marketplace, or any organization or group that provides or maintains a marketplace for trading securities, options, futures, or commodities.
expense ratio The amount that is taken from the fund’s assets each year to cover the operating expenses. An expense ratio of 0.50% means that a fund’s expenses amount to half of one percent of its average net assets a year.
gross domestic product (GDP) The output of goods and services produced by labor and property located in the United States.
inception date The date that the shares began trading in the secondary market.
indicative optimized portfolio value (IOPV) A calculation disseminated by the stock exchange that approximates the fund’s NAV every 15 seconds throughout the trading day.
liquidity The ability to convert a security or asset quickly into cash.
market cap, market capitalization The value of a company as determined by the total value of all shares of its stock outstanding.
market price return The return based on the change in market price per share of the fund over a given time period. Market price returns assume that dividends and capital gain distributions have been reinvested in the fund at market price.
median market cap The midpoint of the range of market caps of the stocks held by a fund. There are different ways of calculating median market cap. With a simple median, half of the stocks in the fund’s portfolio would be larger than the median, and half would be smaller. With a weighted median (the type that is calculated for these funds), half of the fund’s assets are invested in stocks that are larger than the median market cap, and half in stocks that are smaller.
MSCI EAFE (Europe, Australasia, Far East) Index A free float-adjusted market capitalization index that is designed to measure the equity market performance of developed markets, excluding the U.S. & Canada.
MSCI Emerging Markets Index A free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.
net asset value (NAV) The value of one share of a fund. NAV is calculated by taking the fund’s total assets, subtracting liabilities, and dividing by the number of shares outstanding.
NAV return The return based on the change in NAV of the fund over a given time period. NAV returns assume that dividends and capital gain distributions have been reinvested in the fund.
offer (ask) The lowest price at which an individual is willing to sell a security.
open The price at which a security opened for trading on a given day.
outstanding shares, shares outstanding When speaking of the fund, indicates all shares currently held by investors.
price-to-book ratio (P/B) The market price of a company’s stock compared with its “book value.” A mutual fund’s P/B is the weighted average of the P/B of all stocks in the fund’s portfolio.
price-to-earnings ratio (P/E) The market price of a company’s stock compared with earnings over the past year. A mutual fund’s P/E is the weighted average of the P/E of all stocks in the fund’s portfolio.
primary market The market that deals with the issuance of new securities.
S&P 500 Index A market capitalization index that is designed to measure the performance of 500 leading publicly held companies in leading industries of the U.S. economy.
sampling If a fund uses a sampling method, the fund will not fully replicate the benchmark index and may hold securities not included in the index. A fund that utilizes a sampling approach may not track the return of the index.
secondary market The market in which investors purchase securities from other investors rather than directly from the issuing companies. Organized exchanges facilitate the trading of securities in the secondary market.
spread The gap between bid and ask prices of a security.
stock A share of ownership, or equity, in the issuing company.
total return The percentage that an investor would have earned or lost on an investment in the fund assuming dividends and distributions were reinvested.
tracking error The difference between the performance of the fund and its benchmark index, positive or negative.
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Schwab ETFstmare designed to be low-cost, diversified investments. Each fund follows broad market indices and provides exposure to specific segments of the market, making each a solid investment option for the core portions of an investor portfolio. The list to the right shows all currently available Schwab ETFs.
Investors should carefully consider information contained in the prospectus, including investment objectives, risks, charges and expenses before investing. Please call 1-800-435-4000 for a prospectus and brochure for any Schwab ETF. Please read the prospectus carefully before you invest. This report must be preceded or accompanied by a current prospectus.
Proxy Voting Policies, Procedures and Results
A description of the proxy voting policies and procedures used to determine how to vote proxies on behalf of the funds is available without charge, upon request, by visiting the Schwab ETFs’ website at www.schwabetfs.com, the SEC’s website at http://www.sec.gov, or by contacting Schwab ETFs at 1-800-435-4000.
Information regarding how a fund voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available, without charge, by visiting the fund’s website at www.schwabetfs.com or the SEC’s website at http://www.sec.gov.
Schwab ETFs
U.S. ETFs
Schwab U.S. Broad Market ETFtm
Schwab U.S. Large-Cap ETFtm
Schwab U.S. Large-Cap Growth ETFtm
Schwab U.S. Large-Cap Value ETFtm
Schwab U.S. Mid-Cap ETFtm
Schwab U.S. Small-Cap ETFtm
Schwab U.S. Dividend Equity ETFtm
Schwab U.S. REIT ETFtm
International ETFs
Schwab International Equity ETFtm
Schwab International Small-Cap Equity ETFtm
Schwab Emerging Markets Equity ETFtm
Fixed Income ETFs
Schwab U.S. Aggregate Bond ETFtm
Schwab Short-Term U.S. Treasury ETFtm
Schwab Intermediate-Term U.S. Treasury ETFtm
Schwab U.S. TIPS ETFtm
Investment Adviser
Charles Schwab Investment Management, Inc.
211 Main Street, San Francisco, CA 94105
Schwab ETFstm
1-800-435-4000
This report is not authorized for distribution to prospective investors
unless preceded or accompanied by a current prospectus.
© 2012 Charles Schwab Investment Management, Inc. All rights reserved.
Printed on recycled paper.
MFR54790-02
Item 2: Code of Ethics.
Not applicable to this semi-annual report.
Item 3: Audit Committee Financial Expert.
Not applicable to this semi-annual report.
Item 4: Principal Accountant Fees and Services.
Not applicable to this semi-annual report.
Item 5: Audit Committee of Listed Registrants.
Not applicable to this semi-annual report.
Item 6: Schedule of Investments.
The schedules of investments are included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) | Based on their evaluation of Registrant’s disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant’s Chief Executive Officer, Marie Chandoha and Registrant’s Principal Financial Officer, George Pereira, have concluded that Registrant’s disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant’s officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above. | |
(b) | During the second fiscal quarter of the period covered by this report, there have been no changes in Registrant’s internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant’s internal control over financial reporting. |
Item 12: Exhibits.
(a) | (1) | Code of ethics — not applicable to this semi-annual report. |
(2) | Separate certifications for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the 1940 Act, are attached. | ||
(3) | Not applicable. |
(b) | A certification for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(b) under the 1940 Act, is attached. This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Form N-CSR with the Commission. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Schwab Strategic Trust
By: | /s/ Marie Chandoha | |||
Chief Executive Officer |
Date: 04/10/12
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Marie Chandoha | |||
Chief Executive Officer |
Date: 04/10/12
By: | /s/ George Pereira | |||
Principal Financial Officer |
Date: 04/04/12