UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-22311
Schwab Strategic Trust – Schwab Fixed-Income ETFs
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
(Address of principal executive offices) (Zip code)
Jonathan de St. Paer
Schwab Strategic Trust – Schwab Fixed-Income ETFs
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: December 31
Date of reporting period: June 30, 2022
Item 1: Report(s) to Shareholders.
Semiannual Report | June 30, 2022
Schwab Fixed-Income ETFs
| Schwab U.S. TIPS ETF | SCHP |
| Schwab Short-Term U.S. Treasury ETF | SCHO |
| Schwab Intermediate-Term U.S. Treasury ETF | SCHR |
| Schwab Long-Term U.S. Treasury ETF | SCHQ |
| Schwab U.S. Aggregate Bond ETF | SCHZ |
| Schwab 1-5 Year Corporate Bond ETF | SCHJ |
| Schwab 5-10 Year Corporate Bond ETF | SCHI |
This page is intentionally left blank.
In This Report
Fund investment adviser: Charles Schwab Investment Management, Inc., dba Schwab Asset ManagementTM
Distributor: SEI Investments Distribution Co. (SIDCO)
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Fixed-Income ETFs
Performance at a Glance
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
| Total Returns for the 6 Months Ended June 30, 2022 | |
| Schwab U.S. TIPS ETF (Ticker Symbol: SCHP) | |
| Market Price Return1 | -8.98% |
| NAV Return1 | -8.88% |
| Bloomberg US Treasury Inflation-Linked Bond Index (Series-L)SM | -8.92% |
| ETF Category: Morningstar Inflation-Protected Bond2 | -6.81% |
| Performance Details | page 6 |
| Schwab Short-Term U.S. Treasury ETF (Ticker Symbol: SCHO) | |
| Market Price Return1 | -3.04% |
| NAV Return1 | -3.00% |
| Bloomberg US Treasury 1-3 Year Index | -3.01% |
| ETF Category: Morningstar Short Government2 | -3.68% |
| Performance Details | page 7 |
| Schwab Intermediate-Term U.S. Treasury ETF (Ticker Symbol: SCHR) | |
| Market Price Return1 | -7.62% |
| NAV Return1 | -7.70% |
| Bloomberg US Treasury 3-10 Year Index | -7.73% |
| ETF Category: Morningstar Intermediate Government2 | -8.10% |
| Performance Details | page 8 |
| Schwab Long-Term U.S. Treasury ETF (Ticker Symbol: SCHQ) | |
| Market Price Return1 | -20.81% |
| NAV Return1 | -20.99% |
| Bloomberg US Long Treasury Index | -21.25% |
| ETF Category: Morningstar Long Government2 | -21.10% |
| Performance Details | page 9 |
| Total Returns for the 6 Months Ended June 30, 2022 | |
| Schwab U.S. Aggregate Bond ETF (Ticker Symbol: SCHZ) | |
| Market Price Return1 | -10.34% |
| NAV Return1 | -10.27% |
| Bloomberg US Aggregate Bond Index | -10.35% |
| ETF Category: Morningstar Intermediate Core Bond2 | -10.53% |
| Performance Details | page 10 |
| Schwab 1-5 Year Corporate Bond ETF (Ticker Symbol: SCHJ) | |
| Market Price Return1 | -5.54% |
| NAV Return1 | -5.56% |
| Bloomberg US 1-5 Year Corporate Bond Index | -5.60% |
| ETF Category: Morningstar Short-Term Bond2 | -4.86% |
| Performance Details | page 11 |
| Schwab 5-10 Year Corporate Bond ETF (Ticker Symbol: SCHI) | |
| Market Price Return1 | -12.83% |
| NAV Return1 | -12.87% |
| Bloomberg US 5-10 Year Corporate Bond Index | -12.94% |
| ETF Category: Morningstar Corporate Bond2 | -13.83% |
| Performance Details | page 12 |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund(s) is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
U.S. Treasury Inflation-Protected Securities (TIPS) generally have lower yields than conventional fixed rate bonds and will likely decline in price during periods of deflation, which could result in losses.
Index ownership — Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively Bloomberg). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg’s licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
| 1 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Fixed-Income ETFs
The Investment Environment
For the six-month reporting period ended June 30, 2022, both U.S. fixed-income and U.S. equity markets lost ground as inflation accelerated, interest rates rose, and, in late February, Russia invaded Ukraine. Economic growth slowed around the world and fears of an impending recession rose. The spread of COVID-19 continued to weigh on economic growth worldwide, with the highly transmissible Omicron variant and subvariants keeping infection rates high in many areas. For the six-month reporting period, the Bloomberg US Aggregate Bond Index, representing the broad U.S. bond market, returned -10.35%. The Bloomberg US 1-5 Year Corporate Bond Index and Bloomberg US 5-10 Year Corporate Bond Index returned -5.60% and -12.94%, respectively, while the Bloomberg US Treasury 1-3 Year Index and the Bloomberg US Treasury 3-10 Year Index returned -3.01% and -7.73%, respectively. The Bloomberg US Treasury Inflation-Linked Bond Index (Series-L)SM returned -8.92%.
Amid fading government stimuli, ongoing supply chain disruptions, persisting inflation, and a widening U.S. trade deficit, gross domestic product (GDP) decreased at an annualized rate of -1.6% for the first quarter of 2022. The unemployment rate, which has fallen steadily since skyrocketing in April 2020, ended the reporting period near pre-pandemic lows. Inflation rose through the reporting period, with just a slight downtick in April, ending the reporting period at its highest level in more than 40 years, due to imbalances in the labor market, supply chain bottlenecks, and soaring energy costs.
Monetary policies around the world varied. In the United States, after maintaining the federal funds rate in a range of 0.00% to 0.25% through mid-March, the U.S. Federal Reserve (Fed) shifted its stance as inflation continued to rise and indicators of economic activity and employment continued to strengthen. After issuing successively stronger signals that interest rates could begin to rise sooner in 2022 than previously anticipated, the Fed increased the federal funds rate by 0.25% in mid-March, 0.50% in early May, and 0.75% in mid-June in an effort to achieve a return to price stability. The federal funds rate ended the reporting period in a range of 1.50% to 1.75%. In addition, the Fed’s bond-buying program, which it had begun to scale back in November 2021, was ended altogether in early March 2022. In June, the Fed also began to reduce the $9 trillion in assets it holds on its balance sheet, vowing to be more aggressive than during its last round of quantitative tightening in 2017 through 2019.
Yields of U.S. Treasury Securities: Effective Yields of Three-Month, Two-Year and 10-Year Treasuries
Index figures assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized. Past performance is not an indication of future results.
For index definitions, please see the Glossary.
Data source: Bloomberg L.P.
Nothing in this report represents a recommendation of a security by the investment adviser.
Management views may have changed since the report date.
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Fixed-Income ETFs
The Investment Environment (continued)
Outside the United States, after holding its policy rate unchanged since March 2016, at 0.00%, the European Central Bank announced in June its intention to raise interest rates in July for the first time in 11 years. The European Central Bank also intended to end its long-running asset purchase program and downgraded its growth forecasts. Also in June, the Bank of England raised its key official bank rate for the fifth consecutive time, to 1.25%, bringing borrowing costs to a 13-year high as the Bank of England wrestles with soaring inflation. In contrast, the Bank of Japan upheld its short-term interest rate target of -0.1%, also unchanged since 2016, and vowed to defend its cap on bond yields with unlimited buying, as opposed to the monetary tightening being employed in many other countries around the globe.
Bond markets were volatile during the reporting period, particularly as the Fed’s tightening cycle accelerated. As inflation continued to rise and Fed monetary policy shifted, bond yields began to rise in early 2022, exerting downward pressure on bond prices. Yields touched reporting-period highs in mid-June before falling back slightly. (Bond yields and bond prices typically move in opposite directions.) During the reporting period, portions of the yield curve inverted, which is often an indicator of a possible recession. The yield on the 10-year U.S. Treasury began the reporting period at 1.52%, hit a reporting-period high of 3.49% in mid-June, and ended the reporting period at 2.98% as concerns about slowing economic growth mounted. Short-term rates also rose, with the yield on the three-month U.S. Treasury climbing from 0.06% to 1.72% over the reporting period.
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Fixed-Income ETFs
Fund Management
 | Matthew Hastings, CFA, Managing Director and Head of Taxable Bond Strategies for Schwab Asset Management, leads the portfolio management team for the Schwab Fixed-Income ETFs and Schwab Taxable Bond Funds. He also has overall responsibility for all aspects of the management of the funds. Prior to joining Schwab in 1999, Mr. Hastings was in fixed-income sales and trading at Lehman Brothers. He has worked in the fixed-income securities industry since 1996. |
 | Steven Hung, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab U.S. Aggregate Bond ETF, Schwab 1-5 Year Corporate Bond ETF and Schwab 5-10 Year Corporate Bond ETF. His primary focus is corporate bonds. Prior to joining Schwab in 1999, Mr. Hung was an associate in Schwab’s management training program for nine months. In that role, he worked as a clerk on the options trading floor of the Pacific Coast Stock Exchange. |
 | Mark McKissick, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab U.S. TIPS ETF, Schwab Short-Term U.S. Treasury ETF, Schwab Intermediate-Term U.S. Treasury ETF, Schwab Long-Term U.S. Treasury ETF and Schwab U.S. Aggregate Bond ETF. Prior to joining Schwab in 2016, Mr. McKissick worked at Denver Investments for 17 years, most recently as a director of fixed income and portfolio manager. In this role he co-managed multiple bond strategies, as well as oversaw the firm’s fixed-income business including the investment process, client service and other administrative functions. |
 | Alfonso Portillo, Jr., Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab U.S. Aggregate Bond ETF. His primary focus is securitized products. Prior to joining Schwab in 2007, Mr. Portillo worked for ten years at Pacific Investment Management Company, most recently as a vice president and member of the mortgage- and asset-backed portfolio management team. He has worked in fixed-income asset management since 1996. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab U.S. TIPS ETF as of June 30, 2022
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
| Fund and Inception Date | 6 Months | 1 Year | 5 Years | 10 Years |
| Fund: Schwab U.S. TIPS ETF (8/5/2010) | ||||
| Market Price Return2 | -8.98% | -5.14% | 3.15% | 1.64% |
| NAV Return2 | -8.88% | -5.17% | 3.15% | 1.66% |
| Bloomberg US Treasury Inflation-Linked Bond Index (Series-L)SM | -8.92% | -5.14% | 3.21% | 1.73% |
| ETF Category: Morningstar Inflation-Protected Bond3 | -6.81% | -3.79% | 2.85% | 1.39% |
| Fund Expense Ratio4: 0.04% | ||||
Portfolio Composition % of Investments5
By Security Type
| Weighted Average Maturity7 | 7.4 Yrs |
| Weighted Average Duration7 | 6.9 Yrs |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Treasury Inflation-Linked Bond Index (Series-L)SM are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab U.S. TIPS ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab U.S. TIPS ETF.
Portfolio holdings may have changed since the report date.
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.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
TIPS generally have lower yields than conventional fixed rate bonds and will likely decline in price during periods of deflation, which could result in losses.
| 1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
| 2 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 and mutual funds within the category as of the report date. |
| 4 | As stated in the prospectus. Effective July 1, 2022, the management fee was reduced to 0.04%. For more information, see financial note 4 or refer to the prospectus. |
| 5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
| 6 | Less than 0.05%. |
| 7 | See Glossary for definitions of maturity and duration. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Short-Term U.S. Treasury ETF as of June 30, 2022
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
| Fund and Inception Date | 6 Months | 1 Year | 5 Years | 10 Years |
| Fund: Schwab Short-Term U.S. Treasury ETF (8/5/2010) | ||||
| Market Price Return2 | -3.04% | -3.56% | 0.84% | 0.70% |
| NAV Return2 | -3.00% | -3.54% | 0.85% | 0.70% |
| Bloomberg US Treasury 1-3 Year Index | -3.01% | -3.51% | 0.90% | 0.77% |
| ETF Category: Morningstar Short Government3 | -3.68% | -4.36% | 0.60% | 0.55% |
| Fund Expense Ratio4: 0.03% | ||||
Portfolio Composition % of Investments5
By Security Type
| Weighted Average Maturity6 | 2.0 Yrs |
| Weighted Average Duration6 | 1.9 Yrs |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Treasury 1-3 Year Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab Short-Term U.S. Treasury ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab Short-Term U.S. Treasury ETF.
Portfolio holdings may have changed since the report date.
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.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
| 1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
| 2 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 and mutual funds within the category as of the report date. |
| 4 | As stated in the prospectus. Effective July 1, 2022, the management fee was reduced to 0.03%. For more information, see financial note 4 or refer to the prospectus. |
| 5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
| 6 | See Glossary for definitions of maturity and duration. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Intermediate-Term U.S. Treasury ETF as of June 30, 2022
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
| Fund and Inception Date | 6 Months | 1 Year | 5 Years | 10 Years |
| Fund: Schwab Intermediate-Term U.S. Treasury ETF (8/5/2010) | ||||
| Market Price Return2 | -7.62% | -8.30% | 0.82% | 1.06% |
| NAV Return2 | -7.70% | -8.34% | 0.82% | 1.06% |
| Bloomberg US Treasury 3-10 Year Index | -7.73% | -8.31% | 0.86% | 1.13% |
| ETF Category: Morningstar Intermediate Government3 | -8.10% | -8.54% | 0.34% | 0.76% |
| Fund Expense Ratio4: 0.03% | ||||
Portfolio Composition % of Investments5
By Security Type
| Weighted Average Maturity6 | 5.6 Yrs |
| Weighted Average Duration6 | 5.3 Yrs |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Treasury 3-10 Year Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab Intermediate-Term U.S. Treasury ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab Intermediate-Term U.S. Treasury ETF.
Portfolio holdings may have changed since the report date.
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.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
| 1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
| 2 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 and mutual funds within the category as of the report date. |
| 4 | As stated in the prospectus. Effective July 1, 2022, the management fee was reduced to 0.03%. For more information, see financial note 4 or refer to the prospectus. |
| 5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
| 6 | See Glossary for definitions of maturity and duration. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Long-Term U.S. Treasury ETF as of June 30, 2022
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
| Fund and Inception Date | 6 Months | 1 Year | Since Inception* |
| Fund: Schwab Long-Term U.S. Treasury ETF (10/10/2019) | |||
| Market Price Return2 | -20.81% | -18.28% | -6.15% |
| NAV Return2 | -20.99% | -18.44% | -6.20% |
| Bloomberg US Long Treasury Index | -21.25% | -18.45% | -6.19% |
| ETF Category: Morningstar Long Government3 | -21.10% | -18.80% | N/A |
| Fund Expense Ratio4: 0.03% | |||
Portfolio Composition % of Investments5
By Security Type
| Weighted Average Maturity7 | 23.6 Yrs |
| Weighted Average Duration7 | 16.9 Yrs |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Long Treasury Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab Long-Term U.S. Treasury ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab Long-Term U.S. Treasury ETF.
Portfolio holdings may have changed since the report date.
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.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
| * | Inception (10/10/19) 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 or sale of fund shares. |
| 2 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 and mutual funds within the category as of the report date. |
| 4 | As stated in the prospectus. Effective July 1, 2022, the management fee was reduced to 0.03%. For more information, see financial note 4 or refer to the prospectus. |
| 5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
| 6 | Less than 0.05%. |
| 7 | See Glossary for definitions of maturity and duration. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab U.S. Aggregate Bond ETF as of June 30, 2022
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
| Fund and Inception Date | 6 Months | 1 Year | 5 Years | 10 Years |
| Fund: Schwab U.S. Aggregate Bond ETF (7/14/2011) | ||||
| Market Price Return2 | -10.34% | -10.41% | 0.76% | 1.42% |
| NAV Return2 | -10.27% | -10.31% | 0.81% | 1.46% |
| Bloomberg US Aggregate Bond Index | -10.35% | -10.29% | 0.88% | 1.54% |
| ETF Category: Morningstar Intermediate Core Bond3 | -10.53% | -10.74% | 0.72% | 1.47% |
| Fund Expense Ratio4: 0.03% | ||||
Portfolio Composition % of Investments5
By Security Type
| Weighted Average Maturity7 | 8.8 Yrs |
| Weighted Average Duration7 | 6.5 Yrs |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Aggregate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab U.S. Aggregate Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab U.S. Aggregate Bond ETF.
Portfolio holdings may have changed since the report date.
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.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
| 1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
| 2 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 and mutual funds within the category as of the report date. |
| 4 | As stated in the prospectus. Effective July 1, 2022, the management fee was reduced to 0.03%. For more information, see financial note 4 or refer to the prospectus. |
| 5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
| 6 | The fund may seek to obtain exposure to U.S. agency mortgage pass-through securities, in part or in full, through the use of “to-be-announced” or “TBA” transactions, which are standardized contracts for future delivery of mortgage pass-through securities in which the exact mortgage pools to be delivered are not specified until a few days prior to settlement. These transactions represented approximately 1.6% of total investments on June 30, 2022. |
| 7 | See Glossary for definitions of maturity and duration. |
10
Schwab Fixed-Income ETFs | Semiannual Report
Schwab 1-5 Year Corporate Bond ETF as of June 30, 2022
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
| Fund and Inception Date | 6 Months | 1 Year | Since Inception* |
| Fund: Schwab 1-5 Year Corporate Bond ETF (10/10/2019) | |||
| Market Price Return2 | -5.54% | -6.18% | -0.26% |
| NAV Return2 | -5.56% | -6.14% | -0.25% |
| Bloomberg US 1-5 Year Corporate Bond Index | -5.60% | -6.14% | -0.15% |
| ETF Category: Morningstar Short-Term Bond3 | -4.86% | -5.19% | N/A |
| Fund Expense Ratio4: 0.03% | |||
Portfolio Composition % of Investments5
By Security Type
| Weighted Average Maturity6 | 3.2 Yrs |
| Weighted Average Duration6 | 2.8 Yrs |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US 1-5 Year Corporate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab 1-5 Year Corporate Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab 1-5 Year Corporate Bond ETF.
Portfolio holdings may have changed since the report date.
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.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
| * | Inception (10/10/19) 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 or sale of fund shares. |
| 2 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 and mutual funds within the category as of the report date. |
| 4 | As stated in the prospectus. Effective July 1, 2022, the management fee was reduced to 0.03%. For more information, see financial note 4 or refer to the prospectus. |
| 5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
| 6 | See Glossary for definitions of maturity and duration. |
11
Schwab Fixed-Income ETFs | Semiannual Report
Schwab 5-10 Year Corporate Bond ETF as of June 30, 2022
The performance data 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.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
| Fund and Inception Date | 6 Months | 1 Year | Since Inception* |
| Fund: Schwab 5-10 Year Corporate Bond ETF (10/10/2019) | |||
| Market Price Return2 | -12.83% | -13.35% | -2.05% |
| NAV Return2 | -12.87% | -13.30% | -2.01% |
| Bloomberg US 5-10 Year Corporate Bond Index | -12.94% | -13.27% | -1.94% |
| ETF Category: Morningstar Corporate Bond3 | -13.83% | -13.91% | N/A |
| Fund Expense Ratio4: 0.03% | |||
Portfolio Composition % of Investments5
By Security Type
| Weighted Average Maturity6 | 7.6 Yrs |
| Weighted Average Duration6 | 6.4 Yrs |
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 cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US 5-10 Year Corporate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab 5-10 Year Corporate Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab 5-10 Year Corporate Bond ETF.
Portfolio holdings may have changed since the report date.
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.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
| * | Inception (10/10/19) 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 or sale of fund shares. |
| 2 | ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair 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 using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. 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 and mutual funds within the category as of the report date. |
| 4 | As stated in the prospectus. Effective July 1, 2022, the management fee was reduced to 0.03%. For more information, see financial note 4 or refer to the prospectus. |
| 5 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
| 6 | See Glossary for definitions of maturity and duration. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab Fixed-Income ETFs
Fund Expenses (Unaudited)
Examples for a $1,000 Investment
As a fund shareholder, you may 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.
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 January 1, 2022 and held through June 30, 2022.
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 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 a 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 brokerage commissions you may pay when purchasing or selling shares of a fund. Therefore, the hypothetical return lines of the table are useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| EXPENSE RATIO (ANNUALIZED) 1 | BEGINNING ACCOUNT VALUE AT 1/1/22 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 6/30/22 | EXPENSES PAID DURING PERIOD 1/1/22-6/30/222 | |
| Schwab U.S. TIPS ETF | ||||
| Actual Return | 0.05% | $1,000.00 | $ 911.20 | $0.24 |
| Hypothetical 5% Return | 0.05% | $1,000.00 | $1,024.55 | $0.25 |
| Schwab Short-Term U.S. Treasury ETF | ||||
| Actual Return | 0.04% | $1,000.00 | $ 970.00 | $0.20 |
| Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.60 | $0.20 |
| Schwab Intermediate-Term U.S. Treasury ETF | ||||
| Actual Return | 0.04% | $1,000.00 | $ 923.00 | $0.19 |
| Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.60 | $0.20 |
| Schwab Long-Term U.S. Treasury ETF | ||||
| Actual Return | 0.04% | $1,000.00 | $ 790.10 | $0.18 |
| Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.60 | $0.20 |
| Schwab U.S. Aggregate Bond ETF | ||||
| Actual Return | 0.04% | $1,000.00 | $ 897.30 | $0.19 |
| Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.60 | $0.20 |
| Schwab 1-5 Year Corporate Bond ETF | ||||
| Actual Return | 0.04% | $1,000.00 | $ 944.40 | $0.19 |
| Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.60 | $0.20 |
| Schwab 5-10 Year Corporate Bond ETF | ||||
| Actual Return | 0.04% | $1,000.00 | $ 871.30 | $0.19 |
| Hypothetical 5% Return | 0.04% | $1,000.00 | $1,024.60 | $0.20 |
| 1 | Based on the most recent six-month expense ratio. Effective July 1, 2022, the management fee of the Schwab U.S. TIPS ETF, Schwab Short-Term U.S. Treasury ETF, Schwab Intermediate-Term U.S. Treasury ETF, Schwab Long-Term U.S. Treasury ETF, Schwab U.S. Aggregate Bond ETF, Schwab 1-5 Year Corporate Bond ETF and Schwab 5-10 Year Corporate Bond ETF were reduced to 0.04%, 0.03%, 0.03%, 0.03%, 0.03%, 0.03% and 0.03%, respectively. If the fund expense changes had been in place throughout the entire most recent fiscal half-year, the expenses paid during period under the actual return and hypothetical 5% return example would have been the following; For Schwab U.S. TIPS ETF, $0.19 and $0.20, respectively, for Schwab Short-Term U.S. Treasury ETF, $0.15 and $0.15, respectively, for Schwab Intermediate-Term U.S. Treasury ETF, $0.14 and $0.15, respectively, for Schwab Long-Term U.S. Treasury ETF, $0.13 and $0.15, respectively, for Schwab U.S. Aggregate Bond ETF, $0.14 and $0.15, respectively, for Schwab 1-5 Year Corporate Bond ETF, $0.14 and $0.15, respectively, and for Schwab 5-10 Year Corporate Bond ETF, $0.14 and $0.15, respectively. (See financial note 4) |
| 2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
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Schwab Fixed-Income ETFs | Semiannual Report
Schwab U.S. TIPS ETF
Financial Statements
FINANCIAL HIGHLIGHTS
| 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 | |
| Per-Share Data | ||||||
| Net asset value at beginning of period | $62.83 | $62.06 | $56.57 | $53.27 | $55.39 | $54.84 |
| Income (loss) from investment operations: | ||||||
| Net investment income (loss)1 | 2.11 | 2.93 | 0.81 | 1.21 | 1.51 | 1.17 |
| Net realized and unrealized gains (losses) | (7.63) | 0.60 | 5.37 | 3.23 | (2.23) | 0.43 |
| Total from investment operations | (5.52) | 3.53 | 6.18 | 4.44 | (0.72) | 1.60 |
| Less distributions: | ||||||
| Distributions from net investment income | (1.50) | (2.76) | (0.69) | (1.14) | (1.40) | (1.05) |
| Net asset value at end of period | $55.81 | $62.83 | $62.06 | $56.57 | $53.27 | $55.39 |
| Total return | (8.88%) 2 | 5.80% | 10.94% | 8.36% | (1.31%) | 2.95% |
| Ratios/Supplemental Data | ||||||
| Ratios to average net assets: | ||||||
| Total expenses | 0.05% 3 | 0.05% | 0.05% | 0.05% | 0.05% | 0.05% 4 |
| Net investment income (loss) | 7.09% 3 | 4.69% | 1.36% | 2.18% | 2.80% | 2.13% |
| Portfolio turnover rate5 | 8% 2 | 19% | 23% | 20% | 17% | 19% |
| Net assets, end of period (x 1,000,000) | $15,768 | $21,304 | $14,090 | $8,734 | $5,779 | $2,880 |
| * | Unaudited. |
| 1 | Calculated based on the average shares outstanding during the period. |
| 2 | Not annualized. |
| 3 | Annualized. |
| 4 | Effective March 1, 2017, the annual operating expense ratio was reduced. The ratio presented for the period ended 12/31/17 is a blended ratio. |
| 5 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
14
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. TIPS ETF
Portfolio Holdings as of June 30, 2022 (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 U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to orders@mysummaryprospectus.com. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
For fixed rate obligations, the rate shown is the interest rate (the rate established when the obligation was issued). For variable rate obligations, the rate shown is the rate as of the report date based on each security’s rate reset date. The reference rate and spread used is shown parenthetically in the security description, if available; if not, the reference rate is described in a footnote. The maturity date shown for all the securities is the final legal maturity. Inflation-protected securities are fixed-income securities whose principal value is periodically adjusted by the rate of inflation. The interest rate on these instruments is generally lower at issuance than typical bonds or notes. Over the life of an inflation-indexed instrument interest will be paid based on a principal value, which is adjusted for any inflation or deflation.
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| TREASURIES 99.8% OF NET ASSETS | ||
| U.S. Treasury Inflation Protected Securities | ||
| 0.38%, 07/15/23 | 610,335,928 | 621,398,322 |
| 0.63%, 01/15/24 | 580,974,545 | 590,786,560 |
| 0.50%, 04/15/24 | 326,230,084 | 330,900,387 |
| 0.13%, 07/15/24 | 527,496,896 | 532,828,085 |
| 0.13%, 10/15/24 | 470,536,961 | 473,542,097 |
| 0.25%, 01/15/25 | 482,389,961 | 485,265,941 |
| 2.38%, 01/15/25 | 328,797,281 | 348,612,548 |
| 0.13%, 04/15/25 | 385,447,684 | 385,598,278 |
| 0.38%, 07/15/25 | 528,966,649 | 534,174,992 |
| 0.13%, 10/15/25 | 468,948,056 | 468,921,574 |
| 0.63%, 01/15/26 | 445,360,175 | 450,666,156 |
| 2.00%, 01/15/26 | 212,204,322 | 224,942,727 |
| 0.13%, 04/15/26 | 362,339,181 | 359,018,310 |
| 0.13%, 07/15/26 | 443,896,252 | 440,397,910 |
| 0.13%, 10/15/26 | 501,252,577 | 496,676,683 |
| 0.38%, 01/15/27 | 413,362,661 | 411,988,263 |
| 2.38%, 01/15/27 | 205,169,867 | 222,980,390 |
| 0.13%, 04/15/27 | 512,194,919 | 504,211,418 |
| 0.38%, 07/15/27 | 455,732,321 | 454,318,826 |
| 0.50%, 01/15/28 | 465,409,722 | 462,386,979 |
| 1.75%, 01/15/28 | 192,888,102 | 204,761,399 |
| 3.63%, 04/15/28 | 198,065,855 | 231,432,649 |
| 0.75%, 07/15/28 | 405,137,464 | 408,428,639 |
| 0.88%, 01/15/29 | 347,489,380 | 350,727,160 |
| 2.50%, 01/15/29 | 178,112,078 | 198,189,667 |
| 3.88%, 04/15/29 | 234,583,742 | 283,220,302 |
| 0.25%, 07/15/29 | 410,625,555 | 398,351,120 |
| 0.13%, 01/15/30 | 463,762,179 | 442,681,118 |
| 0.13%, 07/15/30 | 513,521,509 | 489,758,060 |
| 0.13%, 01/15/31 | 531,503,622 | 505,533,383 |
| 0.13%, 07/15/31 | 543,444,131 | 517,005,155 |
| 0.13%, 01/15/32 | 592,772,146 | 562,412,847 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.38%, 04/15/32 | 82,500,268 | 103,145,901 |
| 2.13%, 02/15/40 | 107,975,907 | 126,157,948 |
| 2.13%, 02/15/41 | 155,690,487 | 180,968,885 |
| 0.75%, 02/15/42 | 252,356,645 | 230,830,509 |
| 0.63%, 02/15/43 | 198,166,236 | 175,233,445 |
| 1.38%, 02/15/44 | 272,565,986 | 278,896,653 |
| 0.75%, 02/15/45 | 300,023,944 | 269,303,313 |
| 1.00%, 02/15/46 | 154,481,302 | 146,446,915 |
| 0.88%, 02/15/47 | 189,321,757 | 175,066,603 |
| 1.00%, 02/15/48 | 137,648,049 | 131,363,684 |
| 1.00%, 02/15/49 | 128,933,561 | 124,139,644 |
| 0.25%, 02/15/50 | 194,871,818 | 153,851,499 |
| 0.13%, 02/15/51 | 196,132,404 | 151,256,551 |
| 0.13%, 02/15/52 | 118,024,665 | 91,942,422 |
| Total Treasuries (Cost $17,351,646,860) | 15,730,721,917 | |
| SECURITY | NUMBER OF SHARES | VALUE ($) |
| SHORT-TERM INVESTMENTS 0.0% OF NET ASSETS | ||
| Money Market Funds 0.0% | ||
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (a) | 1,137,973 | 1,137,973 |
| Total Short-Term Investments (Cost $1,137,973) | 1,137,973 | |
| Total Investments in Securities (Cost $17,352,784,833) | 15,731,859,890 | |
| (a) | The rate shown is the 7-day yield. |
15
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. TIPS ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2022 (see financial note 2(a) for additional information):
| DESCRIPTION | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL |
| Assets | ||||
| Treasuries 1 | $— | $15,730,721,917 | $— | $15,730,721,917 |
| Short-Term Investments1 | 1,137,973 | — | — | 1,137,973 |
| Total | $1,137,973 | $15,730,721,917 | $— | $15,731,859,890 |
| 1 | As categorized in the Portfolio Holdings. |
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
16
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. TIPS ETF
Statement of Assets and Liabilities
As of June 30, 2022; unaudited
| Assets | ||
| Investments in securities, at value - unaffiliated (cost $17,352,784,833) | $15,731,859,890 | |
| Receivables: | ||
| Investments sold | 238,136,788 | |
| Interest | 37,991,075 | |
| Dividends | + | 17,249 |
| Total assets | 16,008,005,002 | |
| Liabilities | ||
| Payables: | ||
| Investments bought | 236,704,062 | |
| Fund shares redeemed | 2,790,270 | |
| Management fees | 649,660 | |
| Due to custodian | + | 4,851 |
| Total liabilities | 240,148,843 | |
| Net assets | $15,767,856,159 | |
| Net Assets by Source | ||
| Capital received from investors | $17,262,707,130 | |
| Total distributable loss | + | (1,494,850,971) |
| Net assets | $15,767,856,159 | |
| Net Asset Value (NAV) | ||||
| Net Assets | ÷ | Shares Outstanding | = | NAV |
| $15,767,856,159 | 282,550,000 | $55.81 | ||
17
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. TIPS ETF
Statement of Operations
| For the period January 1, 2022 through June 30, 2022; unaudited | ||
| Investment Income | ||
| Interest received from securities - unaffiliated | $672,470,530 | |
| Dividends received from securities - unaffiliated | + | 25,806 |
| Total investment income | 672,496,336 | |
| Expenses | ||
| Management fees | 4,708,436 | |
| Total expenses | – | 4,708,436 |
| Net investment income | 667,787,900 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) | ||
| Net realized losses on sales of securities - unaffiliated | (121,587,531) | |
| Net realized gains on sales of in-kind redemptions - unaffiliated | + | 89,428,543 |
| Net realized losses | (32,158,988) | |
| Net change in unrealized appreciation (depreciation) on securities - unaffiliated | + | (2,367,889,154) |
| Net realized and unrealized losses | (2,400,048,142) | |
| Decrease in net assets resulting from operations | ($1,732,260,242) | |
18
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. TIPS ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
| OPERATIONS | |||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
| Net investment income | $667,787,900 | $856,417,676 | |
| Net realized gains (losses) | (32,158,988) | 439,588,857 | |
| Net change in unrealized appreciation (depreciation) | + | (2,367,889,154) | (200,941,689) |
| Increase (decrease) in net assets resulting from operations | ($1,732,260,242) | $1,095,064,844 | |
| DISTRIBUTIONS TO SHAREHOLDERS | |||
| Total distributions | ($457,432,840) | ($852,013,180) | |
| TRANSACTIONS IN FUND SHARES | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | VALUE | SHARES | VALUE | ||
| Shares sold | 92,500,000 | $5,527,695,769 | 203,700,000 | $12,711,611,994 | |
| Shares redeemed | + | (149,000,000) | (8,873,875,138) | (91,700,000) | (5,740,942,233) |
| Net transactions in fund shares | (56,500,000) | ($3,346,179,369) | 112,000,000 | $6,970,669,761 | |
| SHARES OUTSTANDING AND NET ASSETS | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | NET ASSETS | SHARES | NET ASSETS | ||
| Beginning of period | 339,050,000 | $21,303,728,610 | 227,050,000 | $14,090,007,185 | |
| Total increase (decrease) | + | (56,500,000) | (5,535,872,451) | 112,000,000 | 7,213,721,425 |
| End of period | 282,550,000 | $15,767,856,159 | 339,050,000 | $21,303,728,610 | |
19
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Short-Term U.S. Treasury ETF
Financial Statements
FINANCIAL HIGHLIGHTS
| 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 | |
| Per-Share Data | ||||||
| Net asset value at beginning of period | $50.84 | $51.39 | $50.48 | $49.88 | $50.03 | $50.41 |
| Income (loss) from investment operations: | ||||||
| Net investment income (loss)1 | 0.16 | 0.21 | 0.65 | 1.14 | 0.94 | 0.57 |
| Net realized and unrealized gains (losses) | (1.69) | (0.55) | 0.91 | 0.60 | (0.20) 2 | (0.39) |
| Total from investment operations | (1.53) | (0.34) | 1.56 | 1.74 | 0.74 | 0.18 |
| Less distributions: | ||||||
| Distributions from net investment income | (0.11) | (0.21) | (0.65) | (1.14) | (0.89) | (0.56) |
| Net asset value at end of period | $49.20 | $50.84 | $51.39 | $50.48 | $49.88 | $50.03 |
| Total return | (3.00%) 3 | (0.66%) | 3.11% | 3.53% | 1.50% | 0.35% |
| Ratios/Supplemental Data | ||||||
| Ratios to average net assets: | ||||||
| Total expenses | 0.04% 4 | 0.05% 5 | 0.05% | 0.06% 6 | 0.06% | 0.06% |
| Net investment income (loss) | 0.65% 4 | 0.41% | 1.26% | 2.27% | 1.89% | 1.13% |
| Portfolio turnover rate7 | 38% 3 | 73% | 74% | 77% | 65% | 65% |
| Net assets, end of period (x 1,000,000) | $8,826 | $8,956 | $7,508 | $5,263 | $4,255 | $2,181 |
| * | Unaudited. |
| 1 | Calculated based on the average shares outstanding during the period. |
| 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 December 20, 2021, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended 12/31/21 is a blended ratio. |
| 6 | Effective December 13, 2019, the annual operating expense ratio was reduced to 0.05%. The ratio presented for the period ended 12/31/19 is a blended ratio. |
| 7 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
20
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Short-Term U.S. Treasury ETF
Portfolio Holdings as of June 30, 2022 (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 U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to orders@mysummaryprospectus.com. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
For fixed-rate obligations, the rate shown is the interest rate (the rate established when the obligation was issued). All securities are currently in a fixed-rate coupon period based on index eligibility requirements and the fund’s investment objective. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. The maturity date shown for all the securities is the final legal maturity.
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| TREASURIES 99.7% OF NET ASSETS | ||
| Bonds | ||
| 6.25%, 08/15/23 | 18,075,000 | 18,771,876 |
| 7.50%, 11/15/24 | 9,180,000 | 10,125,612 |
| 7.63%, 02/15/25 | 8,600,000 | 9,596,055 |
| Notes | ||
| 0.13%, 07/15/23 | 213,104,000 | 207,006,396 |
| 0.13%, 07/31/23 | 10,323,000 | 10,016,133 |
| 1.25%, 07/31/23 | 68,141,000 | 66,932,562 |
| 2.75%, 07/31/23 | 63,946,000 | 63,818,607 |
| 0.13%, 08/15/23 | 94,758,600 | 91,810,349 |
| 2.50%, 08/15/23 | 109,234,000 | 108,711,298 |
| 0.13%, 08/31/23 | 18,247,000 | 17,661,813 |
| 1.38%, 08/31/23 | 121,142,000 | 118,972,327 |
| 2.75%, 08/31/23 | 53,133,000 | 53,024,036 |
| 0.13%, 09/15/23 | 218,893,000 | 211,650,719 |
| 0.25%, 09/30/23 | 258,732,000 | 250,292,889 |
| 1.38%, 09/30/23 | 7,477,000 | 7,334,616 |
| 2.88%, 09/30/23 | 69,877,000 | 69,831,962 |
| 0.13%, 10/15/23 | 103,008,000 | 99,352,423 |
| 0.38%, 10/31/23 | 146,243,000 | 141,350,143 |
| 1.63%, 10/31/23 | 57,942,000 | 56,951,780 |
| 2.88%, 10/31/23 | 61,611,000 | 61,558,053 |
| 0.25%, 11/15/23 | 23,383,000 | 22,536,280 |
| 2.75%, 11/15/23 | 142,921,000 | 142,535,784 |
| 0.50%, 11/30/23 | 145,269,000 | 140,369,008 |
| 2.13%, 11/30/23 | 64,943,000 | 64,213,660 |
| 2.88%, 11/30/23 | 59,786,000 | 59,724,112 |
| 0.13%, 12/15/23 | 14,690,200 | 14,100,584 |
| 0.75%, 12/31/23 | 162,050,000 | 156,796,036 |
| 2.25%, 12/31/23 | 58,687,000 | 58,076,059 |
| 2.63%, 12/31/23 | 67,609,000 | 67,286,801 |
| 0.13%, 01/15/24 | 217,701,600 | 208,457,785 |
| 0.88%, 01/31/24 | 135,671,000 | 131,304,090 |
| 2.25%, 01/31/24 | 64,487,000 | 63,774,116 |
| 2.50%, 01/31/24 | 78,958,000 | 78,387,405 |
| 0.13%, 02/15/24 | 151,909,000 | 145,159,138 |
| 2.75%, 02/15/24 | 121,804,000 | 121,413,847 |
| 1.50%, 02/29/24 | 133,682,000 | 130,548,828 |
| 2.13%, 02/29/24 | 61,041,000 | 60,227,915 |
| 2.38%, 02/29/24 | 58,428,000 | 57,888,226 |
| 0.25%, 03/15/24 | 145,689,000 | 139,121,614 |
| 2.13%, 03/31/24 | 107,475,000 | 105,925,849 |
| 2.25%, 03/31/24 | 130,405,000 | 128,777,484 |
| 0.38%, 04/15/24 | 104,960,000 | 100,222,450 |
| 2.00%, 04/30/24 | 9,119,000 | 8,962,089 |
| 2.25%, 04/30/24 | 91,806,000 | 90,635,114 |
| 2.50%, 04/30/24 | 121,259,000 | 120,224,035 |
| 0.25%, 05/15/24 | 124,263,000 | 118,129,941 |
| 2.50%, 05/15/24 | 151,952,000 | 150,637,260 |
| 2.00%, 05/31/24 | 157,257,000 | 154,437,431 |
| 2.50%, 05/31/24 | 120,792,000 | 119,725,634 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.25%, 06/15/24 | 128,485,000 | 121,867,520 |
| 1.75%, 06/30/24 | 83,312,000 | 81,330,086 |
| 2.00%, 06/30/24 | 59,418,000 | 58,307,394 |
| 3.00%, 06/30/24 | 118,000,000 | 118,076,054 |
| 0.38%, 07/15/24 | 114,568,000 | 108,691,915 |
| 1.75%, 07/31/24 | 86,364,000 | 84,221,768 |
| 2.13%, 07/31/24 | 56,999,000 | 56,019,330 |
| 0.38%, 08/15/24 | 130,796,000 | 123,745,278 |
| 2.38%, 08/15/24 | 157,288,000 | 155,254,315 |
| 1.25%, 08/31/24 | 78,361,000 | 75,511,231 |
| 1.88%, 08/31/24 | 64,058,000 | 62,561,645 |
| 0.38%, 09/15/24 | 149,937,000 | 141,532,328 |
| 1.50%, 09/30/24 | 79,696,000 | 77,108,993 |
| 2.13%, 09/30/24 | 54,465,000 | 53,469,312 |
| 0.63%, 10/15/24 | 149,176,000 | 141,361,742 |
| 1.50%, 10/31/24 | 78,875,000 | 76,216,050 |
| 2.25%, 10/31/24 | 56,416,000 | 55,472,795 |
| 0.75%, 11/15/24 | 138,242,000 | 131,092,297 |
| 2.25%, 11/15/24 | 152,895,000 | 150,374,622 |
| 1.50%, 11/30/24 | 89,947,000 | 86,788,314 |
| 2.13%, 11/30/24 | 58,811,000 | 57,604,915 |
| 1.00%, 12/15/24 | 139,943,000 | 133,290,241 |
| 1.75%, 12/31/24 | 81,461,000 | 78,963,075 |
| 2.25%, 12/31/24 | 66,173,000 | 64,963,275 |
| 1.13%, 01/15/25 | 131,176,000 | 125,109,110 |
| 1.38%, 01/31/25 | 74,978,000 | 71,920,303 |
| 2.50%, 01/31/25 | 67,104,000 | 66,233,745 |
| 1.50%, 02/15/25 | 129,821,000 | 124,790,436 |
| 2.00%, 02/15/25 | 136,683,000 | 133,217,873 |
| 1.13%, 02/28/25 | 84,383,000 | 80,328,661 |
| 2.75%, 02/28/25 | 68,700,000 | 68,222,321 |
| 1.75%, 03/15/25 | 124,365,000 | 120,255,126 |
| 0.50%, 03/31/25 | 101,681,000 | 94,912,858 |
| 2.63%, 03/31/25 | 41,300,000 | 40,890,227 |
| 2.63%, 04/15/25 | 119,009,000 | 117,730,583 |
| 0.38%, 04/30/25 | 109,190,000 | 101,350,500 |
| 2.88%, 04/30/25 | 63,626,000 | 63,367,519 |
| 2.13%, 05/15/25 | 130,864,000 | 127,689,526 |
| 2.75%, 05/15/25 | 116,768,000 | 115,883,118 |
| 0.25%, 05/31/25 | 107,171,000 | 98,907,112 |
| 2.88%, 05/31/25 | 58,021,000 | 57,783,023 |
| 2.88%, 06/15/25 | 115,000,000 | 114,555,273 |
| 0.25%, 06/30/25 | 110,000,000 | 101,290,234 |
| 2.75%, 06/30/25 | 45,000,000 | 44,655,469 |
| Total Treasuries (Cost $9,063,036,517) | 8,797,285,736 | |
21
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Short-Term U.S. Treasury ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY | NUMBER OF SHARES | VALUE ($) |
| SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS | ||
| Money Market Funds 0.1% | ||
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (a) | 6,683,113 | 6,683,113 |
| Total Short-Term Investments (Cost $6,683,113) | 6,683,113 | |
| Total Investments in Securities (Cost $9,069,719,630) | 8,803,968,849 | |
| (a) | The rate shown is the 7-day yield. |
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2022 (see financial note 2(a) for additional information):
| DESCRIPTION | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL |
| Assets | ||||
| Treasuries 1 | $— | $8,797,285,736 | $— | $8,797,285,736 |
| Short-Term Investments1 | 6,683,113 | — | — | 6,683,113 |
| Total | $6,683,113 | $8,797,285,736 | $— | $8,803,968,849 |
| 1 | As categorized in the Portfolio Holdings. |
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
22
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Short-Term U.S. Treasury ETF
Statement of Assets and Liabilities
As of June 30, 2022; unaudited
| Assets | ||
| Investments in securities, at value - unaffiliated (cost $9,069,719,630) | $8,803,968,849 | |
| Receivables: | ||
| Investments sold | 372,207,101 | |
| Interest | 28,262,327 | |
| Fund shares sold | 7,367,910 | |
| Dividends | + | 1,265 |
| Total assets | 9,211,807,452 | |
| Liabilities | ||
| Payables: | ||
| Investments bought | 385,666,973 | |
| Management fees | 286,836 | |
| Due to custodian | + | 4,296 |
| Total liabilities | 385,958,105 | |
| Net assets | $8,825,849,347 | |
| Net Assets by Source | ||
| Capital received from investors | $9,171,791,705 | |
| Total distributable loss | + | (345,942,358) |
| Net assets | $8,825,849,347 | |
| Net Asset Value (NAV) | ||||
| Net Assets | ÷ | Shares Outstanding | = | NAV |
| $8,825,849,347 | 179,400,000 | $49.20 | ||
23
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Short-Term U.S. Treasury ETF
Statement of Operations
| For the period January 1, 2022 through June 30, 2022; unaudited | ||
| Investment Income | ||
| Interest received from securities - unaffiliated | $28,724,054 | |
| Dividends received from securities - unaffiliated | + | 7,142 |
| Total investment income | 28,731,196 | |
| Expenses | ||
| Management fees | 1,666,909 | |
| Total expenses | – | 1,666,909 |
| Net investment income | 27,064,287 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) | ||
| Net realized losses on sales of securities - unaffiliated | (61,740,159) | |
| Net realized losses on sales of in-kind redemptions - unaffiliated | + | (15,689,116) |
| Net realized losses | (77,429,275) | |
| Net change in unrealized appreciation (depreciation) on securities - unaffiliated | + | (206,545,684) |
| Net realized and unrealized losses | (283,974,959) | |
| Decrease in net assets resulting from operations | ($256,910,672) | |
24
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Short-Term U.S. Treasury ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
| OPERATIONS | |||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
| Net investment income | $27,064,287 | $34,884,979 | |
| Net realized gains (losses) | (77,429,275) | 32,936,548 | |
| Net change in unrealized appreciation (depreciation) | + | (206,545,684) | (127,210,855) |
| Decrease in net assets from operations | ($256,910,672) | ($59,389,328) | |
| DISTRIBUTIONS TO SHAREHOLDERS | |||
| Total distributions | ($19,128,080) | ($34,862,540) | |
| TRANSACTIONS IN FUND SHARES | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | VALUE | SHARES | VALUE | ||
| Shares sold | 40,200,000 | $2,000,585,228 | 137,050,000 | $7,021,323,331 | |
| Shares redeemed | + | (36,950,000) | (1,854,504,681) | (107,000,000) | (5,479,187,668) |
| Net transactions in fund shares | 3,250,000 | $146,080,547 | 30,050,000 | $1,542,135,663 | |
| SHARES OUTSTANDING AND NET ASSETS | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | NET ASSETS | SHARES | NET ASSETS | ||
| Beginning of period | 176,150,000 | $8,955,807,552 | 146,100,000 | $7,507,923,757 | |
| Total increase (decrease) | + | 3,250,000 | (129,958,205) | 30,050,000 | 1,447,883,795 |
| End of period | 179,400,000 | $8,825,849,347 | 176,150,000 | $8,955,807,552 | |
25
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Intermediate-Term U.S. Treasury ETF
Financial Statements
FINANCIAL HIGHLIGHTS
| 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 | |
| Per-Share Data | ||||||
| Net asset value at beginning of period | $56.16 | $58.21 | $54.97 | $52.89 | $53.35 | $53.41 |
| Income (loss) from investment operations: | ||||||
| Net investment income (loss)1 | 0.43 | 0.55 | 0.94 | 1.28 | 1.21 | 0.89 |
| Net realized and unrealized gains (losses) | (4.75) | (2.04) | 3.24 | 2.07 | (0.55) 2 | (0.07) |
| Total from investment operations | (4.32) | (1.49) | 4.18 | 3.35 | 0.66 | 0.82 |
| Less distributions: | ||||||
| Distributions from net investment income | (0.27) | (0.56) | (0.94) | (1.27) | (1.12) | (0.88) |
| Net asset value at end of period | $51.57 | $56.16 | $58.21 | $54.97 | $52.89 | $53.35 |
| Total return | (7.70%) 3 | (2.57%) | 7.62% | 6.38% | 1.28% | 1.54% |
| Ratios/Supplemental Data | ||||||
| Ratios to average net assets: | ||||||
| Total expenses | 0.04% 4 | 0.05% 5 | 0.05% | 0.06% 6 | 0.06% | 0.06% |
| Net investment income (loss) | 1.64% 4 | 0.97% | 1.63% | 2.35% | 2.34% | 1.66% |
| Portfolio turnover rate7 | 26% 3 | 56% | 51% | 38% | 41% | 30% |
| Net assets, end of period (x 1,000,000) | $7,072 | $3,712 | $3,953 | $4,736 | $3,480 | $1,166 |
| * | Unaudited. |
| 1 | Calculated based on the average shares outstanding during the period. |
| 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 December 20, 2021, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended 12/31/21 is a blended ratio. |
| 6 | Effective December 13, 2019, the annual operating expense ratio was reduced to 0.05%. The ratio presented for the period ended 12/31/19 is a blended ratio. |
| 7 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
26
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Intermediate-Term U.S. Treasury ETF
Portfolio Holdings as of June 30, 2022 (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 U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to orders@mysummaryprospectus.com. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
For fixed-rate obligations, the rate shown is the interest rate (the rate established when the obligation was issued). All securities are currently in a fixed-rate coupon period based on index eligibility requirements and the fund’s investment objective. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. The maturity date shown for all the securities is the final legal maturity.
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| TREASURIES 99.6% OF NET ASSETS | ||
| Bonds | ||
| 6.88%, 08/15/25 | 4,245,000 | 4,730,522 |
| 6.00%, 02/15/26 | 9,445,000 | 10,391,714 |
| 6.75%, 08/15/26 | 5,752,000 | 6,567,166 |
| 6.50%, 11/15/26 | 6,051,000 | 6,893,649 |
| 6.63%, 02/15/27 | 3,276,000 | 3,771,495 |
| 6.38%, 08/15/27 | 4,430,000 | 5,117,861 |
| 6.13%, 11/15/27 | 11,496,000 | 13,215,909 |
| 5.50%, 08/15/28 | 6,502,000 | 7,375,960 |
| 5.25%, 11/15/28 | 11,445,000 | 12,880,990 |
| 5.25%, 02/15/29 | 6,668,000 | 7,540,570 |
| 6.13%, 08/15/29 | 5,992,000 | 7,176,356 |
| 6.25%, 05/15/30 | 9,476,000 | 11,613,282 |
| 5.38%, 02/15/31 | 11,566,000 | 13,622,579 |
| Notes | ||
| 0.25%, 07/31/25 | 67,425,050 | 61,912,526 |
| 2.00%, 08/15/25 | 106,493,000 | 103,210,853 |
| 0.25%, 08/31/25 | 5,533,000 | 5,067,450 |
| 2.75%, 08/31/25 | 55,807,000 | 55,320,869 |
| 0.25%, 09/30/25 | 7,034,000 | 6,427,043 |
| 3.00%, 09/30/25 | 46,237,000 | 46,179,204 |
| 0.25%, 10/31/25 | 163,077,000 | 148,642,138 |
| 3.00%, 10/31/25 | 30,279,000 | 30,238,786 |
| 2.25%, 11/15/25 | 88,490,000 | 86,212,074 |
| 0.38%, 11/30/25 | 10,940,000 | 9,994,288 |
| 2.88%, 11/30/25 | 37,626,000 | 37,408,475 |
| 0.38%, 12/31/25 | 160,449,000 | 146,227,954 |
| 2.63%, 12/31/25 | 36,487,000 | 35,986,729 |
| 0.38%, 01/31/26 | 90,907,000 | 82,665,002 |
| 2.63%, 01/31/26 | 41,103,000 | 40,520,172 |
| 1.63%, 02/15/26 | 79,336,000 | 75,443,578 |
| 0.50%, 02/28/26 | 91,066,000 | 83,019,466 |
| 2.50%, 02/28/26 | 42,923,000 | 42,109,810 |
| 0.75%, 03/31/26 | 158,984,000 | 146,066,550 |
| 2.25%, 03/31/26 | 38,369,000 | 37,289,872 |
| 0.75%, 04/30/26 | 12,822,000 | 11,755,670 |
| 2.38%, 04/30/26 | 30,696,000 | 29,965,771 |
| 1.63%, 05/15/26 | 76,899,000 | 72,894,845 |
| 0.75%, 05/31/26 | 89,111,000 | 81,543,527 |
| 2.13%, 05/31/26 | 36,179,000 | 34,957,959 |
| 0.88%, 06/30/26 | 69,755,000 | 64,043,809 |
| 1.88%, 06/30/26 | 35,636,000 | 34,089,453 |
| 0.63%, 07/31/26 | 84,912,000 | 77,014,521 |
| 1.88%, 07/31/26 | 36,121,000 | 34,509,665 |
| 1.50%, 08/15/26 | 74,361,000 | 69,849,960 |
| 0.75%, 08/31/26 | 91,370,000 | 83,171,684 |
| 1.38%, 08/31/26 | 35,699,000 | 33,372,987 |
| 0.88%, 09/30/26 | 85,098,000 | 77,731,704 |
| 1.63%, 09/30/26 | 26,855,000 | 25,337,063 |
| 1.13%, 10/31/26 | 86,208,000 | 79,469,633 |
| 1.63%, 10/31/26 | 33,841,000 | 31,879,280 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.00%, 11/15/26 | 73,637,000 | 70,421,135 |
| 1.25%, 11/30/26 | 14,340,000 | 13,280,745 |
| 1.63%, 11/30/26 | 31,151,000 | 29,319,662 |
| 1.25%, 12/31/26 | 158,806,000 | 146,808,704 |
| 1.75%, 12/31/26 | 32,673,000 | 30,898,958 |
| 1.50%, 01/31/27 | 112,326,000 | 104,884,403 |
| 2.25%, 02/15/27 | 68,583,000 | 66,142,409 |
| 1.13%, 02/28/27 | 19,848,000 | 18,188,056 |
| 1.88%, 02/28/27 | 78,469,000 | 74,499,572 |
| 0.63%, 03/31/27 | 29,798,000 | 26,600,535 |
| 2.50%, 03/31/27 | 87,916,000 | 85,793,653 |
| 0.50%, 04/30/27 | 46,158,000 | 40,858,845 |
| 2.75%, 04/30/27 | 69,141,000 | 68,217,320 |
| 2.38%, 05/15/27 | 81,646,000 | 79,053,102 |
| 0.50%, 05/31/27 | 45,386,000 | 40,086,830 |
| 2.63%, 05/31/27 | 66,774,000 | 65,519,379 |
| 0.50%, 06/30/27 | 53,638,000 | 47,281,059 |
| 3.25%, 06/30/27 | 70,000,000 | 70,694,532 |
| 0.38%, 07/31/27 | 65,730,000 | 57,459,831 |
| 2.25%, 08/15/27 | 64,592,000 | 62,041,120 |
| 0.50%, 08/31/27 | 55,847,000 | 49,016,650 |
| 0.38%, 09/30/27 | 72,097,000 | 62,718,758 |
| 0.50%, 10/31/27 | 71,756,000 | 62,699,608 |
| 2.25%, 11/15/27 | 63,986,000 | 61,356,575 |
| 0.63%, 11/30/27 | 75,973,000 | 66,728,629 |
| 0.63%, 12/31/27 | 84,680,000 | 74,214,081 |
| 0.75%, 01/31/28 | 91,421,000 | 80,539,758 |
| 2.75%, 02/15/28 | 87,348,000 | 85,829,646 |
| 1.13%, 02/29/28 | 93,632,000 | 84,210,280 |
| 1.25%, 03/31/28 | 81,659,000 | 73,789,752 |
| 1.25%, 04/30/28 | 91,012,000 | 82,120,554 |
| 2.88%, 05/15/28 | 97,163,000 | 96,054,735 |
| 1.25%, 05/31/28 | 93,954,000 | 84,650,352 |
| 1.25%, 06/30/28 | 84,641,000 | 76,153,756 |
| 1.00%, 07/31/28 | 91,798,000 | 81,212,543 |
| 2.88%, 08/15/28 | 98,418,000 | 97,233,908 |
| 1.13%, 08/31/28 | 91,261,000 | 81,236,550 |
| 1.25%, 09/30/28 | 92,307,000 | 82,690,485 |
| 1.38%, 10/31/28 | 86,590,000 | 78,086,592 |
| 3.13%, 11/15/28 | 86,347,000 | 86,539,257 |
| 1.50%, 11/30/28 | 85,938,000 | 78,055,874 |
| 1.38%, 12/31/28 | 82,585,000 | 74,449,088 |
| 1.75%, 01/31/29 | 79,995,000 | 73,776,639 |
| 2.63%, 02/15/29 | 87,097,000 | 84,810,704 |
| 1.88%, 02/28/29 | 75,452,000 | 70,158,571 |
| 2.38%, 03/31/29 | 71,271,000 | 68,247,551 |
| 2.88%, 04/30/29 | 64,856,000 | 64,116,236 |
| 2.38%, 05/15/29 | 74,313,000 | 71,212,755 |
| 2.75%, 05/31/29 | 60,311,000 | 59,147,186 |
| 3.25%, 06/30/29 | 60,000,000 | 60,717,188 |
| 1.63%, 08/15/29 | 68,421,000 | 62,311,219 |
| 1.75%, 11/15/29 | 50,962,000 | 46,777,542 |
| 1.50%, 02/15/30 | 88,680,000 | 79,673,438 |
27
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Intermediate-Term U.S. Treasury ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.63%, 05/15/30 | 115,768,000 | 96,575,836 |
| 0.63%, 08/15/30 | 157,678,000 | 130,761,873 |
| 0.88%, 11/15/30 | 163,767,000 | 138,293,556 |
| 1.13%, 02/15/31 | 153,627,000 | 132,023,203 |
| 1.63%, 05/15/31 | 157,231,000 | 140,500,639 |
| 1.25%, 08/15/31 | 171,699,000 | 147,822,108 |
| 1.38%, 11/15/31 | 162,415,000 | 140,895,012 |
| 1.88%, 02/15/32 | 158,309,000 | 143,430,428 |
| 2.88%, 05/15/32 | 102,798,000 | 101,665,616 |
| Total Treasuries (Cost $7,391,924,427) | 7,042,983,004 | |
| SECURITY | NUMBER OF SHARES | VALUE ($) |
| SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS | ||
| Money Market Funds 0.1% | ||
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (a) | 5,450,486 | 5,450,486 |
| Total Short-Term Investments (Cost $5,450,486) | 5,450,486 | |
| Total Investments in Securities (Cost $7,397,374,913) | 7,048,433,490 | |
| (a) | The rate shown is the 7-day yield. |
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2022 (see financial note 2(a) for additional information):
| DESCRIPTION | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL |
| Assets | ||||
| Treasuries 1 | $— | $7,042,983,004 | $— | $7,042,983,004 |
| Short-Term Investments1 | 5,450,486 | — | — | 5,450,486 |
| Total | $5,450,486 | $7,042,983,004 | $— | $7,048,433,490 |
| 1 | As categorized in the Portfolio Holdings. |
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
28
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Intermediate-Term U.S. Treasury ETF
Statement of Assets and Liabilities
As of June 30, 2022; unaudited
| Assets | ||
| Investments in securities, at value - unaffiliated (cost $7,397,374,913) | $7,048,433,490 | |
| Receivables: | ||
| Investments sold | 174,865,939 | |
| Interest | 26,486,050 | |
| Dividends | + | 3,130 |
| Total assets | 7,249,788,609 | |
| Liabilities | ||
| Payables: | ||
| Investments bought | 177,085,389 | |
| Management fees | + | 239,120 |
| Total liabilities | 177,324,509 | |
| Net assets | $7,072,464,100 | |
| Net Assets by Source | ||
| Capital received from investors | $7,526,666,612 | |
| Total distributable loss | + | (454,202,512) |
| Net assets | $7,072,464,100 | |
| Net Asset Value (NAV) | ||||
| Net Assets | ÷ | Shares Outstanding | = | NAV |
| $7,072,464,100 | 137,150,000 | $51.57 | ||
29
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Intermediate-Term U.S. Treasury ETF
Statement of Operations
| For the period January 1, 2022 through June 30, 2022; unaudited | ||
| Investment Income | ||
| Interest received from securities - unaffiliated | $42,631,883 | |
| Dividends received from securities - unaffiliated | + | 12,784 |
| Total investment income | 42,644,667 | |
| Expenses | ||
| Management fees | 1,012,897 | |
| Total expenses | – | 1,012,897 |
| Net investment income | 41,631,770 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) | ||
| Net realized losses on sales of securities - unaffiliated | (72,688,299) | |
| Net realized losses on sales of in-kind redemptions - unaffiliated | + | (15,533,863) |
| Net realized losses | (88,222,162) | |
| Net change in unrealized appreciation (depreciation) on securities - unaffiliated | + | (301,115,415) |
| Net realized and unrealized losses | (389,337,577) | |
| Decrease in net assets resulting from operations | ($347,705,807) | |
30
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Intermediate-Term U.S. Treasury ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
| OPERATIONS | |||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
| Net investment income | $41,631,770 | $36,405,306 | |
| Net realized gains (losses) | (88,222,162) | 29,699,817 | |
| Net change in unrealized appreciation (depreciation) | + | (301,115,415) | (174,720,996) |
| Decrease in net assets from operations | ($347,705,807) | ($108,615,873) | |
| DISTRIBUTIONS TO SHAREHOLDERS | |||
| Total distributions | ($29,348,250) | ($36,438,300) | |
| TRANSACTIONS IN FUND SHARES | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | VALUE | SHARES | VALUE | ||
| Shares sold | 101,300,000 | $5,296,059,390 | 51,000,000 | $2,902,018,922 | |
| Shares redeemed | + | (30,250,000) | (1,558,538,680) | (52,800,000) | (2,997,677,163) |
| Net transactions in fund shares | 71,050,000 | $3,737,520,710 | (1,800,000) | ($95,658,241) | |
| SHARES OUTSTANDING AND NET ASSETS | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | NET ASSETS | SHARES | NET ASSETS | ||
| Beginning of period | 66,100,000 | $3,711,997,447 | 67,900,000 | $3,952,709,861 | |
| Total increase (decrease) | + | 71,050,000 | 3,360,466,653 | (1,800,000) | (240,712,414) |
| End of period | 137,150,000 | $7,072,464,100 | 66,100,000 | $3,711,997,447 | |
31
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Long-Term U.S. Treasury ETF
Financial Statements
FINANCIAL HIGHLIGHTS
| 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 10/10/19 1– 12/31/19 | |||
| Per-Share Data | ||||||
| Net asset value at beginning of period | $51.26 | $54.87 | $47.34 | $50.00 | ||
| Income (loss) from investment operations: | ||||||
| Net investment income (loss)2 | 0.49 | 0.86 | 0.86 | 0.22 | ||
| Net realized and unrealized gains (losses) | (11.21) | (3.60) | 7.50 | (2.67) | ||
| Total from investment operations | (10.72) | (2.74) | 8.36 | (2.45) | ||
| Less distributions: | ||||||
| Distributions from net investment income | (0.38) | (0.87) | (0.83) | (0.21) | ||
| Net asset value at end of period | $40.16 | $51.26 | $54.87 | $47.34 | ||
| Total return | (20.99%) 3 | (4.96%) | 17.64% | (4.91%) 3 | ||
| Ratios/Supplemental Data | ||||||
| Ratios to average net assets: | ||||||
| Total expenses | 0.04% 4 | 0.05% 5 | 0.05% | 0.06% 4,6 | ||
| Net investment income (loss) | 2.23% 4 | 1.70% | 1.55% | 2.07% 4 | ||
| Portfolio turnover rate7 | 24% 3 | 68% | 45% | 3% 3 | ||
| Net assets, end of period (x 1,000) | $86,345 | $99,948 | $90,535 | $18,935 | ||
| * | Unaudited. |
| 1 | Commencement of operations. |
| 2 | Calculated based on the average shares outstanding during the period. |
| 3 | Not annualized. |
| 4 | Annualized. |
| 5 | Effective December 20, 2021, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended 12/31/21 is a blended ratio. |
| 6 | Effective December 13, 2019, the annual operating expense ratio was reduced to 0.05%. The ratio presented for the period ended 12/31/19 is a blended ratio. |
| 7 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
32
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Long-Term U.S. Treasury ETF
Portfolio Holdings as of June 30, 2022 (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 U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to orders@mysummaryprospectus.com. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
For fixed-rate obligations, the rate shown is the interest rate (the rate established when the obligation was issued). All securities are currently in a fixed-rate coupon period based on index eligibility requirements and the fund’s investment objective. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. The maturity date shown for all the securities is the final legal maturity.
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| TREASURIES 99.3% OF NET ASSETS | ||
| Bonds | ||
| 4.50%, 02/15/36 | 375,200 | 441,534 |
| 4.75%, 02/15/37 | 223,000 | 269,482 |
| 5.00%, 05/15/37 | 288,000 | 356,152 |
| 4.38%, 02/15/38 | 303,000 | 352,924 |
| 4.50%, 05/15/38 | 342,900 | 404,622 |
| 3.50%, 02/15/39 | 351,500 | 367,537 |
| 4.25%, 05/15/39 | 521,400 | 596,107 |
| 4.50%, 08/15/39 | 557,100 | 655,637 |
| 4.38%, 11/15/39 | 599,300 | 692,894 |
| 4.63%, 02/15/40 | 603,900 | 719,396 |
| 1.13%, 05/15/40 | 1,808,200 | 1,259,948 |
| 4.38%, 05/15/40 | 584,600 | 674,391 |
| 1.13%, 08/15/40 | 2,208,100 | 1,526,522 |
| 3.88%, 08/15/40 | 581,000 | 626,845 |
| 1.38%, 11/15/40 | 2,457,600 | 1,770,816 |
| 4.25%, 11/15/40 | 577,000 | 652,506 |
| 1.88%, 02/15/41 | 2,976,600 | 2,336,166 |
| 4.75%, 02/15/41 | 611,700 | 737,433 |
| 2.25%, 05/15/41 | 2,565,000 | 2,140,773 |
| 4.38%, 05/15/41 | 564,800 | 647,402 |
| 1.75%, 08/15/41 | 3,360,000 | 2,556,487 |
| 3.75%, 08/15/41 | 571,400 | 600,863 |
| 2.00%, 11/15/41 | 2,824,800 | 2,243,950 |
| 3.13%, 11/15/41 | 600,000 | 576,281 |
| 2.38%, 02/15/42 | 2,285,500 | 1,938,211 |
| 3.13%, 02/15/42 | 635,000 | 608,459 |
| 3.00%, 05/15/42 | 590,600 | 553,872 |
| 3.25%, 05/15/42 | 1,389,400 | 1,356,402 |
| 2.75%, 08/15/42 | 690,100 | 619,365 |
| 2.75%, 11/15/42 | 1,000,600 | 896,553 |
| 3.13%, 02/15/43 | 858,500 | 816,313 |
| 2.88%, 05/15/43 | 1,357,900 | 1,238,978 |
| 3.63%, 08/15/43 | 975,000 | 1,001,279 |
| 3.75%, 11/15/43 | 991,800 | 1,038,058 |
| 3.63%, 02/15/44 | 1,056,300 | 1,084,275 |
| 3.38%, 05/15/44 | 979,200 | 967,189 |
| 3.13%, 08/15/44 | 1,260,900 | 1,195,589 |
| 3.00%, 11/15/44 | 1,103,500 | 1,023,324 |
| 2.50%, 02/15/45 | 1,464,900 | 1,243,906 |
| 3.00%, 05/15/45 | 716,600 | 665,318 |
| 2.88%, 08/15/45 | 975,600 | 887,034 |
| 3.00%, 11/15/45 | 576,100 | 535,863 |
| 2.50%, 02/15/46 | 1,185,600 | 1,006,371 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.50%, 05/15/46 | 1,200,900 | 1,018,889 |
| 2.25%, 08/15/46 | 1,482,300 | 1,196,262 |
| 2.88%, 11/15/46 | 668,100 | 609,537 |
| 3.00%, 02/15/47 | 1,319,700 | 1,233,095 |
| 3.00%, 05/15/47 | 1,016,800 | 951,105 |
| 2.75%, 08/15/47 | 1,450,700 | 1,297,923 |
| 2.75%, 11/15/47 | 1,462,200 | 1,310,268 |
| 3.00%, 02/15/48 | 1,672,100 | 1,576,085 |
| 3.13%, 05/15/48 | 1,795,000 | 1,737,364 |
| 3.00%, 08/15/48 | 1,966,600 | 1,859,052 |
| 3.38%, 11/15/48 | 2,016,600 | 2,050,157 |
| 3.00%, 02/15/49 | 2,123,200 | 2,024,836 |
| 2.88%, 05/15/49 | 2,074,800 | 1,935,561 |
| 2.25%, 08/15/49 | 1,952,900 | 1,603,209 |
| 2.38%, 11/15/49 | 1,833,900 | 1,549,502 |
| 2.00%, 02/15/50 | 2,305,000 | 1,787,636 |
| 1.25%, 05/15/50 | 2,677,800 | 1,704,587 |
| 1.38%, 08/15/50 | 3,018,400 | 1,987,899 |
| 1.63%, 11/15/50 | 2,986,800 | 2,101,494 |
| 1.88%, 02/15/51 | 3,331,000 | 2,500,072 |
| 2.38%, 05/15/51 | 3,356,600 | 2,834,754 |
| 2.00%, 08/15/51 | 3,321,200 | 2,568,222 |
| 1.88%, 11/15/51 | 3,091,400 | 2,320,965 |
| 2.25%, 02/15/52 | 2,823,700 | 2,324,479 |
| 2.88%, 05/15/52 | 1,837,200 | 1,735,293 |
| Total Treasuries (Cost $102,453,873) | 85,701,273 | |
| SECURITY | NUMBER OF SHARES | VALUE ($) |
| SHORT-TERM INVESTMENTS 0.0% OF NET ASSETS | ||
| Money Market Funds 0.0% | ||
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (a) | 5,150 | 5,150 |
| Total Short-Term Investments (Cost $5,150) | 5,150 | |
| Total Investments in Securities (Cost $102,459,023) | 85,706,423 | |
| (a) | The rate shown is the 7-day yield. |
33
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Long-Term U.S. Treasury ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2022 (see financial note 2(a) for additional information):
| DESCRIPTION | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL |
| Assets | ||||
| Treasuries 1 | $— | $85,701,273 | $— | $85,701,273 |
| Short-Term Investments1 | 5,150 | — | — | 5,150 |
| Total | $5,150 | $85,701,273 | $— | $85,706,423 |
| 1 | As categorized in the Portfolio Holdings. |
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
34
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Long-Term U.S. Treasury ETF
Statement of Assets and Liabilities
As of June 30, 2022; unaudited
| Assets | ||
| Investments in securities, at value - unaffiliated (cost $102,459,023) | $85,706,423 | |
| Receivables: | ||
| Fund shares sold | 2,008,002 | |
| Investments sold | 1,406,398 | |
| Interest | 631,137 | |
| Dividends | + | 20 |
| Total assets | 89,751,980 | |
| Liabilities | ||
| Payables: | ||
| Investments bought | 3,404,363 | |
| Management fees | + | 3,009 |
| Total liabilities | 3,407,372 | |
| Net assets | $86,344,608 | |
| Net Assets by Source | ||
| Capital received from investors | $111,803,317 | |
| Total distributable loss | + | (25,458,709) |
| Net assets | $86,344,608 | |
| Net Asset Value (NAV) | ||||
| Net Assets | ÷ | Shares Outstanding | = | NAV |
| $86,344,608 | 2,150,000 | $40.16 | ||
35
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Long-Term U.S. Treasury ETF
Statement of Operations
| For the period January 1, 2022 through June 30, 2022; unaudited | ||
| Investment Income | ||
| Interest received from securities - unaffiliated | $930,705 | |
| Dividends received from securities - unaffiliated | + | 228 |
| Total investment income | 930,933 | |
| Expenses | ||
| Management fees | 16,393 | |
| Total expenses | – | 16,393 |
| Net investment income | 914,540 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) | ||
| Net realized losses on sales of securities - unaffiliated | (4,485,339) | |
| Net realized losses on sales of in-kind redemptions - unaffiliated | + | (713,369) |
| Net realized losses | (5,198,708) | |
| Net change in unrealized appreciation (depreciation) on securities - unaffiliated | + | (15,519,165) |
| Net realized and unrealized losses | (20,717,873) | |
| Decrease in net assets resulting from operations | ($19,803,333) | |
36
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab Long-Term U.S. Treasury ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
| OPERATIONS | |||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
| Net investment income | $914,540 | $1,498,221 | |
| Net realized losses | (5,198,708) | (6,707,595) | |
| Net change in unrealized appreciation (depreciation) | + | (15,519,165) | (1,537,862) |
| Decrease in net assets from operations | ($19,803,333) | ($6,747,236) | |
| DISTRIBUTIONS TO SHAREHOLDERS | |||
| Total distributions | ($706,775) | ($1,504,385) | |
| TRANSACTIONS IN FUND SHARES | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | VALUE | SHARES | VALUE | ||
| Shares sold | 1,350,000 | $56,390,189 | 2,200,000 | $112,232,468 | |
| Shares redeemed | + | (1,150,000) | (49,483,180) | (1,900,000) | (94,568,490) |
| Net transactions in fund shares | 200,000 | $6,907,009 | 300,000 | $17,663,978 | |
| SHARES OUTSTANDING AND NET ASSETS | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | NET ASSETS | SHARES | NET ASSETS | ||
| Beginning of period | 1,950,000 | $99,947,707 | 1,650,000 | $90,535,350 | |
| Total increase (decrease) | + | 200,000 | (13,603,099) | 300,000 | 9,412,357 |
| End of period | 2,150,000 | $86,344,608 | 1,950,000 | $99,947,707 | |
37
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Financial Statements
FINANCIAL HIGHLIGHTS
| 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 1/1/19– 12/31/19 | 1/1/18– 12/31/18 | 1/1/17– 12/31/17 | |
| Per-Share Data | ||||||
| Net asset value at beginning of period | $53.91 | $56.05 | $53.43 | $50.59 | $52.07 | $51.55 |
| Income (loss) from investment operations: | ||||||
| Net investment income (loss)1 | 0.52 | 0.96 | 1.19 | 1.43 | 1.35 | 1.18 |
| Net realized and unrealized gains (losses) | (6.03) | (1.93) | 2.79 | 2.90 | (1.42) | 0.59 |
| Total from investment operations | (5.51) | (0.97) | 3.98 | 4.33 | (0.07) | 1.77 |
| Less distributions: | ||||||
| Distributions from net investment income | (0.48) | (1.17) | (1.36) | (1.49) | (1.41) | (1.25) |
| Net asset value at end of period | $47.92 | $53.91 | $56.05 | $53.43 | $50.59 | $52.07 |
| Total return | (10.27%) 2 | (1.74%) | 7.50% | 8.64% | (0.09%) | 3.46% |
| Ratios/Supplemental Data | ||||||
| Ratios to average net assets: | ||||||
| Total expenses | 0.04% 3 | 0.04% | 0.04% | 0.04% | 0.04% | 0.04% |
| Net investment income (loss) | 2.07% 3 | 1.76% | 2.14% | 2.71% | 2.67% | 2.26% |
| Portfolio turnover rate4,5 | 22% 2 | 48% | 68% | 63% | 71% | 101% |
| Net assets, end of period (x 1,000,000) | $7,518 | $9,074 | $8,733 | $7,384 | $5,545 | $4,926 |
| * | Unaudited. |
| 1 | Calculated based on the average shares outstanding during the period. |
| 2 | Not annualized. |
| 3 | Annualized. |
| 4 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
| 5 | Includes to-be-announced (TBA) transactions. (See financial note 2) |
38
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to orders@mysummaryprospectus.com. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
All securities are currently in a fixed-rate coupon period based on index eligibility requirements and the fund’s investment objective. Generally, for fixed-rate obligations, the rate shown is the interest rate that was established when the obligation was issued. In some cases, for securitized products, the fixed interest rate can change but remains index eligible as a fixed-rate coupon. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. The maturity date shown for all the securities is the final legal maturity.
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| CORPORATES 23.7% OF NET ASSETS | ||
| Financial Institutions 7.8% | ||
| Banking 5.4% | ||
| Ally Financial, Inc. | ||
| 1.45%, 10/02/23 (a) | 450,000 | 435,361 |
| 3.88%, 05/21/24 (a) | 250,000 | 247,668 |
| 5.13%, 09/30/24 | 400,000 | 404,896 |
| 4.63%, 03/30/25 | 150,000 | 149,325 |
| 5.80%, 05/01/25 (a) | 250,000 | 255,948 |
| 8.00%, 11/01/31 | 900,000 | 997,592 |
| American Express Co. | ||
| 3.70%, 08/03/23 (a) | 675,000 | 677,572 |
| 0.75%, 11/03/23 | 250,000 | 242,130 |
| 3.40%, 02/22/24 (a) | 475,000 | 474,002 |
| 2.50%, 07/30/24 (a) | 550,000 | 536,266 |
| 3.00%, 10/30/24 (a) | 800,000 | 785,896 |
| 2.25%, 03/04/25 (a) | 575,000 | 553,748 |
| 4.20%, 11/06/25 (a) | 400,000 | 406,592 |
| 3.13%, 05/20/26 (a) | 50,000 | 48,604 |
| 1.65%, 11/04/26 (a) | 250,000 | 226,783 |
| 2.55%, 03/04/27 (a) | 575,000 | 536,394 |
| 3.30%, 05/03/27 (a) | 700,000 | 673,904 |
| 4.05%, 05/03/29 (a) | 300,000 | 294,891 |
| 4.99%, 05/26/33 (a)(b) | 250,000 | 250,245 |
| 4.05%, 12/03/42 | 150,000 | 137,370 |
| Banco Bilbao Vizcaya Argentaria S.A. | ||
| 0.88%, 09/18/23 | 400,000 | 386,704 |
| 1.13%, 09/18/25 | 400,000 | 363,168 |
| Banco Santander S.A. | ||
| 3.89%, 05/24/24 | 600,000 | 597,672 |
| 2.71%, 06/27/24 | 600,000 | 586,416 |
| 2.75%, 05/28/25 | 600,000 | 569,814 |
| 5.18%, 11/19/25 | 400,000 | 401,668 |
| 4.25%, 04/11/27 | 400,000 | 386,368 |
| 1.72%, 09/14/27 (a)(b) | 200,000 | 173,812 |
| 3.80%, 02/23/28 | 400,000 | 374,964 |
| 4.18%, 03/24/28 (a)(b) | 400,000 | 382,552 |
| 4.38%, 04/12/28 | 400,000 | 385,036 |
| 3.31%, 06/27/29 | 400,000 | 363,824 |
| 3.49%, 05/28/30 | 400,000 | 354,660 |
| 2.75%, 12/03/30 | 600,000 | 477,444 |
| 2.96%, 03/25/31 | 200,000 | 167,922 |
| 3.23%, 11/22/32 (a)(b) | 400,000 | 319,500 |
| Bank of America Corp. | ||
| 4.10%, 07/24/23 | 600,000 | 605,772 |
| 4.13%, 01/22/24 | 750,000 | 758,617 |
| 4.00%, 04/01/24 | 850,000 | 857,412 |
| 3.86%, 07/23/24 (a)(b) | 750,000 | 746,925 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.20%, 08/26/24 | 950,000 | 952,669 |
| 0.81%, 10/24/24 (a)(b) | 400,000 | 381,772 |
| 4.00%, 01/22/25 | 875,000 | 872,147 |
| 1.84%, 02/04/25 (a)(b) | 250,000 | 241,208 |
| 3.46%, 03/15/25 (a)(b) | 750,000 | 740,542 |
| 3.95%, 04/21/25 | 800,000 | 791,200 |
| 0.98%, 04/22/25 (a)(b) | 500,000 | 470,440 |
| 3.84%, 04/25/25 (a)(b) | 600,000 | 598,326 |
| 3.88%, 08/01/25 | 850,000 | 847,917 |
| 0.98%, 09/25/25 (a)(b) | 750,000 | 695,730 |
| 3.09%, 10/01/25 (a)(b) | 750,000 | 727,530 |
| 2.46%, 10/22/25 (a)(b) | 850,000 | 811,053 |
| 1.53%, 12/06/25 (a)(b) | 250,000 | 232,703 |
| 3.37%, 01/23/26 (a)(b) | 500,000 | 484,265 |
| 2.02%, 02/13/26 (a)(b) | 450,000 | 421,366 |
| 4.45%, 03/03/26 | 700,000 | 698,670 |
| 3.38%, 04/02/26 (a)(b) | 500,000 | 484,810 |
| 3.50%, 04/19/26 | 1,050,000 | 1,023,750 |
| 1.32%, 06/19/26 (a)(b) | 350,000 | 318,479 |
| 6.22%, 09/15/26 | 100,000 | 105,350 |
| 4.25%, 10/22/26 | 700,000 | 690,823 |
| 1.20%, 10/24/26 (a)(b) | 700,000 | 627,732 |
| 1.66%, 03/11/27 (a)(b) | 500,000 | 449,920 |
| 3.56%, 04/23/27 (a)(b) | 1,000,000 | 959,330 |
| 1.73%, 07/22/27 (a)(b) | 1,700,000 | 1,515,805 |
| 3.25%, 10/21/27 (a) | 1,000,000 | 943,970 |
| 4.18%, 11/25/27 (a) | 650,000 | 632,768 |
| 3.82%, 01/20/28 (a)(b) | 850,000 | 815,753 |
| 3.71%, 04/24/28 (a)(b) | 500,000 | 476,925 |
| 4.38%, 04/27/28 (a)(b) | 750,000 | 739,410 |
| 3.59%, 07/21/28 (a)(b) | 850,000 | 803,165 |
| 3.42%, 12/20/28 (a)(b) | 1,850,000 | 1,723,885 |
| 3.97%, 03/05/29 (a)(b) | 1,000,000 | 954,550 |
| 2.09%, 06/14/29 (a)(b) | 750,000 | 643,267 |
| 4.27%, 07/23/29 (a)(b) | 1,000,000 | 962,200 |
| 3.97%, 02/07/30 (a)(b) | 950,000 | 895,413 |
| 3.19%, 07/23/30 (a)(b) | 800,000 | 717,280 |
| 2.88%, 10/22/30 (a)(b) | 600,000 | 525,564 |
| 2.50%, 02/13/31 (a)(b) | 1,200,000 | 1,016,628 |
| 2.59%, 04/29/31 (a)(b) | 1,060,000 | 900,915 |
| 1.90%, 07/23/31 (a)(b) | 900,000 | 721,053 |
| 1.92%, 10/24/31 (a)(b) | 950,000 | 758,413 |
| 2.65%, 03/11/32 (a)(b) | 750,000 | 631,342 |
| 2.69%, 04/22/32 (a)(b) | 1,500,000 | 1,261,020 |
| 2.30%, 07/21/32 (a)(b) | 1,250,000 | 1,010,700 |
| 2.57%, 10/20/32 (a)(b) | 1,000,000 | 825,780 |
| 2.97%, 02/04/33 (a)(b) | 1,000,000 | 852,810 |
| 4.57%, 04/27/33 (a)(b) | 1,000,000 | 974,080 |
| 2.48%, 09/21/36 (a)(b) | 250,000 | 194,575 |
| 6.11%, 01/29/37 | 650,000 | 706,615 |
| 3.85%, 03/08/37 (a)(b) | 500,000 | 433,130 |
39
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.24%, 04/24/38 (a)(b) | 250,000 | 230,583 |
| 7.75%, 05/14/38 | 500,000 | 618,840 |
| 4.08%, 04/23/40 (a)(b) | 550,000 | 486,508 |
| 2.68%, 06/19/41 (a)(b) | 1,650,000 | 1,193,362 |
| 5.88%, 02/07/42 | 450,000 | 486,072 |
| 3.31%, 04/22/42 (a)(b) | 1,150,000 | 907,729 |
| 5.00%, 01/21/44 | 450,000 | 441,324 |
| 4.88%, 04/01/44 | 200,000 | 193,560 |
| 4.75%, 04/21/45 | 200,000 | 182,204 |
| 4.44%, 01/20/48 (a)(b) | 600,000 | 549,144 |
| 3.95%, 01/23/49 (a)(b) | 350,000 | 301,182 |
| 4.33%, 03/15/50 (a)(b) | 900,000 | 810,594 |
| 4.08%, 03/20/51 (a)(b) | 1,700,000 | 1,467,372 |
| 2.83%, 10/24/51 (a)(b) | 350,000 | 242,802 |
| 3.48%, 03/13/52 (a)(b) | 300,000 | 236,184 |
| 2.97%, 07/21/52 (a)(b) | 700,000 | 501,284 |
| Bank of America NA | ||
| 6.00%, 10/15/36 | 350,000 | 384,885 |
| Bank of Montreal | ||
| 0.40%, 09/15/23 | 400,000 | 387,036 |
| 0.45%, 12/08/23 | 350,000 | 335,857 |
| 3.30%, 02/05/24 | 650,000 | 648,654 |
| 2.15%, 03/08/24 | 400,000 | 391,608 |
| 2.50%, 06/28/24 | 400,000 | 390,976 |
| 1.50%, 01/10/25 | 500,000 | 471,870 |
| 1.85%, 05/01/25 | 475,000 | 449,445 |
| 3.70%, 06/07/25 | 400,000 | 396,496 |
| 1.25%, 09/15/26 | 400,000 | 354,788 |
| 0.95%, 01/22/27 (a)(b) | 300,000 | 267,429 |
| 2.65%, 03/08/27 | 300,000 | 278,520 |
| 4.34%, 10/05/28 (a)(b) | 300,000 | 299,925 |
| 3.80%, 12/15/32 (a)(b) | 429,000 | 399,047 |
| 3.09%, 01/10/37 (a)(b) | 400,000 | 327,892 |
| Bank of New York Mellon Corp. | ||
| 3.45%, 08/11/23 | 250,000 | 250,880 |
| 2.20%, 08/16/23 (a) | 500,000 | 494,910 |
| 0.35%, 12/07/23 (a) | 150,000 | 144,572 |
| 3.65%, 02/04/24 (a) | 150,000 | 150,576 |
| 3.25%, 09/11/24 (a) | 350,000 | 347,753 |
| 2.10%, 10/24/24 | 445,000 | 431,272 |
| 0.85%, 10/25/24 (a) | 250,000 | 235,548 |
| 3.00%, 02/24/25 (a) | 350,000 | 343,494 |
| 1.60%, 04/24/25 (a) | 550,000 | 517,627 |
| 3.43%, 06/13/25 (a)(b) | 400,000 | 397,160 |
| 3.95%, 11/18/25 (a) | 550,000 | 551,919 |
| 0.75%, 01/28/26 (a) | 150,000 | 135,248 |
| 2.45%, 08/17/26 (a) | 300,000 | 283,953 |
| 2.05%, 01/26/27 (a) | 250,000 | 229,910 |
| 3.25%, 05/16/27 (a) | 300,000 | 291,345 |
| 3.40%, 01/29/28 (a) | 250,000 | 239,783 |
| 3.44%, 02/07/28 (a)(b) | 300,000 | 289,974 |
| 3.85%, 04/28/28 | 100,000 | 97,762 |
| 1.65%, 07/14/28 (a) | 100,000 | 86,867 |
| 3.00%, 10/30/28 (a) | 225,000 | 206,550 |
| 3.30%, 08/23/29 (a) | 300,000 | 277,818 |
| 1.80%, 07/28/31 (a) | 400,000 | 324,920 |
| 4.29%, 06/13/33 (a)(b) | 250,000 | 245,303 |
| Bank of Nova Scotia | ||
| 3.40%, 02/11/24 | 650,000 | 648,128 |
| 0.70%, 04/15/24 | 400,000 | 379,264 |
| 1.45%, 01/10/25 | 500,000 | 473,110 |
| 2.20%, 02/03/25 | 400,000 | 383,288 |
| 3.45%, 04/11/25 | 500,000 | 493,470 |
| 1.30%, 06/11/25 | 550,000 | 510,779 |
| 4.50%, 12/16/25 | 600,000 | 601,014 |
| 1.05%, 03/02/26 | 350,000 | 312,788 |
| 1.35%, 06/24/26 | 250,000 | 224,450 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.70%, 08/03/26 | 650,000 | 614,256 |
| 1.95%, 02/02/27 | 250,000 | 226,135 |
| 2.95%, 03/11/27 | 250,000 | 235,398 |
| 2.15%, 08/01/31 | 200,000 | 163,788 |
| 2.45%, 02/02/32 | 300,000 | 249,477 |
| 4.59%, 05/04/37 (a)(b) | 350,000 | 322,578 |
| Bank OZK | ||
| 2.75%, 10/01/31 (a)(b) | 125,000 | 113,093 |
| BankUnited, Inc. | ||
| 4.88%, 11/17/25 (a) | 200,000 | 202,024 |
| 5.13%, 06/11/30 (a) | 100,000 | 96,281 |
| Barclays Bank PLC | ||
| 3.75%, 05/15/24 | 200,000 | 199,164 |
| Barclays PLC | ||
| 4.38%, 09/11/24 | 200,000 | 199,202 |
| 1.01%, 12/10/24 (a)(b) | 250,000 | 237,450 |
| 3.65%, 03/16/25 | 800,000 | 783,432 |
| 3.93%, 05/07/25 (a)(b) | 700,000 | 689,675 |
| 4.38%, 01/12/26 | 900,000 | 890,199 |
| 2.85%, 05/07/26 (a)(b) | 400,000 | 378,216 |
| 5.20%, 05/12/26 | 700,000 | 698,733 |
| 2.28%, 11/24/27 (a)(b) | 400,000 | 355,140 |
| 4.34%, 01/10/28 (a) | 400,000 | 382,708 |
| 4.84%, 05/09/28 (a) | 650,000 | 626,450 |
| 4.97%, 05/16/29 (a)(b) | 550,000 | 540,479 |
| 5.09%, 06/20/30 (a)(b) | 500,000 | 474,225 |
| 2.65%, 06/24/31 (a)(b) | 200,000 | 166,332 |
| 2.67%, 03/10/32 (a)(b) | 350,000 | 282,601 |
| 2.89%, 11/24/32 (a)(b) | 400,000 | 322,544 |
| 3.56%, 09/23/35 (a)(b) | 350,000 | 278,114 |
| 3.81%, 03/10/42 (a)(b) | 300,000 | 228,081 |
| 3.33%, 11/24/42 (a)(b) | 300,000 | 224,217 |
| 5.25%, 08/17/45 | 500,000 | 484,145 |
| 4.95%, 01/10/47 | 400,000 | 380,688 |
| BNP Paribas S.A. | ||
| 4.25%, 10/15/24 | 300,000 | 299,436 |
| BPCE S.A. | ||
| 4.00%, 04/15/24 | 500,000 | 499,075 |
| 3.38%, 12/02/26 | 250,000 | 239,490 |
| Canadian Imperial Bank of Commerce | ||
| 3.50%, 09/13/23 | 450,000 | 450,702 |
| 0.50%, 12/14/23 | 300,000 | 287,424 |
| 3.10%, 04/02/24 | 250,000 | 247,480 |
| 2.25%, 01/28/25 | 400,000 | 384,028 |
| 3.30%, 04/07/25 | 400,000 | 392,764 |
| 0.95%, 10/23/25 | 200,000 | 181,520 |
| 3.45%, 04/07/27 | 300,000 | 287,925 |
| 3.60%, 04/07/32 (a) | 300,000 | 272,688 |
| Capital One Bank USA NA | ||
| 2.28%, 01/28/26 (a)(b) | 325,000 | 309,091 |
| Capital One Financial Corp. | ||
| 3.90%, 01/29/24 (a) | 250,000 | 250,068 |
| 3.75%, 04/24/24 (a) | 200,000 | 199,442 |
| 3.30%, 10/30/24 (a) | 700,000 | 684,040 |
| 1.34%, 12/06/24 (a)(b) | 250,000 | 239,670 |
| 3.20%, 02/05/25 (a) | 500,000 | 486,345 |
| 4.17%, 05/09/25 (a)(b) | 300,000 | 295,851 |
| 4.20%, 10/29/25 (a) | 550,000 | 542,580 |
| 2.64%, 03/03/26 (a)(b) | 400,000 | 378,268 |
| 3.75%, 07/28/26 (a) | 500,000 | 478,760 |
| 3.75%, 03/09/27 (a) | 250,000 | 239,468 |
| 3.65%, 05/11/27 (a) | 250,000 | 238,343 |
| 1.88%, 11/02/27 (a)(b) | 200,000 | 175,370 |
| 3.80%, 01/31/28 (a) | 550,000 | 518,661 |
| 4.93%, 05/10/28 (a)(b) | 300,000 | 297,474 |
| 3.27%, 03/01/30 (a)(b) | 400,000 | 354,796 |
40
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.36%, 07/29/32 (a)(b) | 325,000 | 247,601 |
| 2.62%, 11/02/32 (a)(b) | 200,000 | 160,850 |
| 5.27%, 05/10/33 (a)(b) | 350,000 | 344,320 |
| CIT Bank NA | ||
| 2.97%, 09/27/25 (a)(b) | 250,000 | 240,078 |
| Citibank NA | ||
| 3.65%, 01/23/24 (a) | 850,000 | 853,510 |
| Citigroup, Inc. | ||
| 3.88%, 10/25/23 | 350,000 | 353,563 |
| 3.75%, 06/16/24 | 200,000 | 201,156 |
| 4.00%, 08/05/24 | 250,000 | 250,000 |
| 0.78%, 10/30/24 (a)(b) | 500,000 | 477,100 |
| 3.88%, 03/26/25 | 350,000 | 345,916 |
| 3.35%, 04/24/25 (a)(b) | 800,000 | 784,928 |
| 3.30%, 04/27/25 | 765,000 | 754,282 |
| 0.98%, 05/01/25 (a)(b) | 600,000 | 562,248 |
| 4.14%, 05/24/25 (a)(b) | 350,000 | 348,968 |
| 4.40%, 06/10/25 | 750,000 | 749,722 |
| 5.50%, 09/13/25 | 450,000 | 463,306 |
| 3.70%, 01/12/26 | 850,000 | 834,972 |
| 4.60%, 03/09/26 | 450,000 | 451,552 |
| 3.29%, 03/17/26 (a)(b) | 400,000 | 387,680 |
| 3.11%, 04/08/26 (a)(b) | 1,350,000 | 1,298,875 |
| 3.40%, 05/01/26 | 700,000 | 677,887 |
| 3.20%, 10/21/26 (a) | 1,100,000 | 1,047,695 |
| 4.30%, 11/20/26 | 350,000 | 345,937 |
| 1.12%, 01/28/27 (a)(b) | 600,000 | 530,484 |
| 1.46%, 06/09/27 (a)(b) | 800,000 | 707,520 |
| 4.45%, 09/29/27 | 1,200,000 | 1,180,968 |
| 3.89%, 01/10/28 (a)(b) | 1,050,000 | 1,009,564 |
| 6.63%, 01/15/28 | 350,000 | 385,112 |
| 3.07%, 02/24/28 (a)(b) | 500,000 | 464,130 |
| 4.66%, 05/24/28 (a)(b) | 300,000 | 297,948 |
| 3.67%, 07/24/28 (a)(b) | 900,000 | 851,274 |
| 4.13%, 07/25/28 | 650,000 | 624,331 |
| 3.52%, 10/27/28 (a)(b) | 900,000 | 841,311 |
| 4.08%, 04/23/29 (a)(b) | 300,000 | 285,528 |
| 3.98%, 03/20/30 (a)(b) | 950,000 | 889,694 |
| 2.98%, 11/05/30 (a)(b) | 900,000 | 786,951 |
| 2.67%, 01/29/31 (a)(b) | 750,000 | 637,732 |
| 4.41%, 03/31/31 (a)(b) | 1,350,000 | 1,293,570 |
| 2.57%, 06/03/31 (a)(b) | 1,200,000 | 1,010,208 |
| 2.56%, 05/01/32 (a)(b) | 750,000 | 618,952 |
| 6.63%, 06/15/32 | 300,000 | 328,446 |
| 2.52%, 11/03/32 (a)(b) | 600,000 | 487,302 |
| 3.06%, 01/25/33 (a)(b) | 750,000 | 637,545 |
| 5.88%, 02/22/33 | 150,000 | 155,928 |
| 3.79%, 03/17/33 (a)(b) | 500,000 | 452,125 |
| 4.91%, 05/24/33 (a)(b) | 700,000 | 691,488 |
| 6.00%, 10/31/33 | 350,000 | 368,767 |
| 3.88%, 01/24/39 (a)(b) | 300,000 | 260,301 |
| 8.13%, 07/15/39 | 550,000 | 723,431 |
| 5.32%, 03/26/41 (a)(b) | 600,000 | 606,096 |
| 5.88%, 01/30/42 | 400,000 | 428,040 |
| 2.90%, 11/03/42 (a)(b) | 250,000 | 182,855 |
| 6.68%, 09/13/43 | 300,000 | 342,690 |
| 5.30%, 05/06/44 | 250,000 | 244,733 |
| 4.65%, 07/30/45 | 200,000 | 183,082 |
| 4.75%, 05/18/46 | 650,000 | 584,779 |
| 4.28%, 04/24/48 (a)(b) | 300,000 | 269,553 |
| 4.65%, 07/23/48 (a) | 800,000 | 746,952 |
| Citizens Bank NA | ||
| 4.12%, 05/23/25 (a)(b) | 250,000 | 249,380 |
| 3.75%, 02/18/26 (a) | 100,000 | 98,326 |
| Citizens Financial Group, Inc. | ||
| 4.30%, 12/03/25 (a) | 150,000 | 149,132 |
| 2.85%, 07/27/26 (a) | 150,000 | 140,696 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.50%, 02/06/30 (a) | 200,000 | 168,902 |
| 3.25%, 04/30/30 (a) | 300,000 | 266,649 |
| 2.64%, 09/30/32 (a) | 250,000 | 199,773 |
| Comerica Bank | ||
| 4.00%, 07/27/25 | 250,000 | 246,875 |
| Comerica, Inc. | ||
| 3.70%, 07/31/23 (a) | 350,000 | 349,930 |
| 4.00%, 02/01/29 (a) | 150,000 | 145,830 |
| Cooperatieve Rabobank UA | ||
| 0.38%, 01/12/24 | 250,000 | 238,465 |
| 1.38%, 01/10/25 | 100,000 | 94,271 |
| 3.38%, 05/21/25 | 700,000 | 690,564 |
| 4.38%, 08/04/25 | 500,000 | 495,525 |
| 3.75%, 07/21/26 | 250,000 | 238,395 |
| 5.25%, 05/24/41 | 350,000 | 380,398 |
| 5.75%, 12/01/43 | 450,000 | 474,192 |
| 5.25%, 08/04/45 | 250,000 | 246,930 |
| Credit Suisse AG | ||
| 0.52%, 08/09/23 | 500,000 | 483,035 |
| 0.50%, 02/02/24 | 250,000 | 235,953 |
| 3.63%, 09/09/24 | 1,050,000 | 1,031,089 |
| 3.70%, 02/21/25 | 400,000 | 391,652 |
| 2.95%, 04/09/25 | 500,000 | 478,585 |
| 1.25%, 08/07/26 | 600,000 | 525,720 |
| Credit Suisse Group AG | ||
| 3.75%, 03/26/25 | 750,000 | 727,725 |
| 4.55%, 04/17/26 | 500,000 | 489,250 |
| 4.88%, 05/15/45 | 500,000 | 429,120 |
| Credit Suisse USA, Inc. | ||
| 7.13%, 07/15/32 | 300,000 | 337,392 |
| Deutsche Bank AG | ||
| 0.90%, 05/28/24 | 600,000 | 563,274 |
| 3.70%, 05/30/24 | 549,000 | 543,112 |
| 2.22%, 09/18/24 (a)(b) | 650,000 | 628,797 |
| 1.45%, 04/01/25 (a)(b) | 150,000 | 140,388 |
| 3.96%, 11/26/25 (a)(b) | 700,000 | 678,615 |
| 4.10%, 01/13/26 | 550,000 | 543,604 |
| 1.69%, 03/19/26 | 300,000 | 269,226 |
| 2.13%, 11/24/26 (a)(b) | 550,000 | 489,775 |
| 2.31%, 11/16/27 (a)(b) | 500,000 | 431,870 |
| 2.55%, 01/07/28 (a)(b) | 500,000 | 432,895 |
| 3.55%, 09/18/31 (a)(b) | 600,000 | 502,878 |
| 3.04%, 05/28/32 (a)(b) | 300,000 | 237,606 |
| Discover Bank | ||
| 4.20%, 08/08/23 | 500,000 | 501,660 |
| 2.45%, 09/12/24 (a) | 300,000 | 288,420 |
| 4.68%, 08/09/28 (a)(b) | 250,000 | 243,568 |
| 4.65%, 09/13/28 (a) | 1,000,000 | 963,610 |
| Discover Financial Services | ||
| 3.95%, 11/06/24 (a) | 200,000 | 197,488 |
| 3.75%, 03/04/25 (a) | 250,000 | 246,480 |
| Fifth Third Bancorp | ||
| 4.30%, 01/16/24 (a) | 250,000 | 251,593 |
| 3.65%, 01/25/24 (a) | 575,000 | 572,855 |
| 2.38%, 01/28/25 (a) | 50,000 | 47,932 |
| 2.55%, 05/05/27 (a) | 300,000 | 275,439 |
| 1.71%, 11/01/27 (a)(b) | 250,000 | 221,920 |
| 3.95%, 03/14/28 (a) | 200,000 | 194,650 |
| 8.25%, 03/01/38 | 350,000 | 451,279 |
| Fifth Third Bank NA | ||
| 3.95%, 07/28/25 (a) | 250,000 | 250,748 |
| 3.85%, 03/15/26 (a) | 300,000 | 294,351 |
| 2.25%, 02/01/27 (a) | 50,000 | 46,340 |
| First Horizon Bank | ||
| 5.75%, 05/01/30 (a) | 250,000 | 256,095 |
41
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| First Horizon Corp. | ||
| 4.00%, 05/26/25 (a) | 100,000 | 98,379 |
| First Republic Bank | ||
| 4.38%, 08/01/46 (a) | 250,000 | 226,415 |
| First-Citizens Bank & Trust Co. | ||
| 6.13%, 03/09/28 | 200,000 | 208,220 |
| Goldman Sachs Capital l | ||
| 6.35%, 02/15/34 | 300,000 | 322,623 |
| Goldman Sachs Group, Inc. | ||
| 1.22%, 12/06/23 (a) | 600,000 | 579,126 |
| 3.63%, 02/20/24 (a) | 500,000 | 498,530 |
| 4.00%, 03/03/24 | 1,050,000 | 1,053,402 |
| 3.00%, 03/15/24 | 500,000 | 493,770 |
| 3.85%, 07/08/24 (a) | 700,000 | 702,163 |
| 0.66%, 09/10/24 (a)(b) | 500,000 | 478,955 |
| 0.93%, 10/21/24 (a)(b) | 500,000 | 479,040 |
| 3.50%, 01/23/25 (a) | 900,000 | 889,713 |
| 1.76%, 01/24/25 (a)(b) | 500,000 | 481,470 |
| 3.50%, 04/01/25 (a) | 1,200,000 | 1,179,324 |
| 3.75%, 05/22/25 (a) | 700,000 | 692,573 |
| 3.27%, 09/29/25 (a)(b) | 900,000 | 876,015 |
| 4.25%, 10/21/25 | 600,000 | 596,928 |
| 0.86%, 02/12/26 (a)(b) | 150,000 | 136,685 |
| 3.75%, 02/25/26 (a) | 350,000 | 343,784 |
| 3.50%, 11/16/26 (a) | 900,000 | 865,539 |
| 1.09%, 12/09/26 (a)(b) | 750,000 | 667,432 |
| 5.95%, 01/15/27 | 265,000 | 277,394 |
| 3.85%, 01/26/27 (a) | 995,000 | 962,981 |
| 1.43%, 03/09/27 (a)(b) | 1,050,000 | 934,080 |
| 1.54%, 09/10/27 (a)(b) | 1,000,000 | 878,580 |
| 1.95%, 10/21/27 (a)(b) | 1,350,000 | 1,195,857 |
| 2.64%, 02/24/28 (a)(b) | 750,000 | 681,255 |
| 3.62%, 03/15/28 (a)(b) | 500,000 | 473,935 |
| 3.69%, 06/05/28 (a)(b) | 850,000 | 806,624 |
| 3.81%, 04/23/29 (a)(b) | 675,000 | 636,815 |
| 4.22%, 05/01/29 (a)(b) | 1,050,000 | 1,010,310 |
| 2.60%, 02/07/30 (a) | 600,000 | 512,064 |
| 3.80%, 03/15/30 (a) | 800,000 | 741,992 |
| 1.99%, 01/27/32 (a)(b) | 950,000 | 752,694 |
| 2.62%, 04/22/32 (a)(b) | 1,300,000 | 1,081,366 |
| 2.38%, 07/21/32 (a)(b) | 1,000,000 | 810,470 |
| 2.65%, 10/21/32 (a)(b) | 1,000,000 | 824,940 |
| 6.13%, 02/15/33 | 200,000 | 218,114 |
| 3.10%, 02/24/33 (a)(b) | 1,300,000 | 1,112,592 |
| 6.45%, 05/01/36 | 200,000 | 217,502 |
| 6.75%, 10/01/37 | 1,700,000 | 1,884,450 |
| 4.02%, 10/31/38 (a)(b) | 700,000 | 612,675 |
| 4.41%, 04/23/39 (a)(b) | 500,000 | 456,705 |
| 6.25%, 02/01/41 | 750,000 | 831,877 |
| 3.21%, 04/22/42 (a)(b) | 750,000 | 574,417 |
| 2.91%, 07/21/42 (a)(b) | 500,000 | 366,045 |
| 3.44%, 02/24/43 (a)(b) | 500,000 | 394,015 |
| 4.80%, 07/08/44 (a) | 525,000 | 495,369 |
| 5.15%, 05/22/45 | 650,000 | 619,586 |
| 4.75%, 10/21/45 (a) | 550,000 | 512,957 |
| HSBC Bank USA NA | ||
| 5.63%, 08/15/35 | 250,000 | 254,035 |
| 7.00%, 01/15/39 | 200,000 | 237,232 |
| HSBC Holdings PLC | ||
| 4.25%, 03/14/24 | 500,000 | 498,380 |
| 0.73%, 08/17/24 (a)(b) | 50,000 | 48,006 |
| 1.16%, 11/22/24 (a)(b) | 400,000 | 382,588 |
| 3.80%, 03/11/25 (a)(b) | 850,000 | 838,576 |
| 0.98%, 05/24/25 (a)(b) | 200,000 | 186,738 |
| 4.25%, 08/18/25 | 400,000 | 394,712 |
| 2.63%, 11/07/25 (a)(b) | 500,000 | 477,000 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.18%, 12/09/25 (a)(b) | 400,000 | 393,812 |
| 4.30%, 03/08/26 | 1,000,000 | 991,180 |
| 3.00%, 03/10/26 (a)(b) | 400,000 | 381,856 |
| 1.65%, 04/18/26 (a)(b) | 750,000 | 688,642 |
| 3.90%, 05/25/26 | 900,000 | 881,775 |
| 2.10%, 06/04/26 (a)(b) | 850,000 | 786,309 |
| 4.29%, 09/12/26 (a)(b) | 800,000 | 784,000 |
| 4.38%, 11/23/26 | 550,000 | 538,857 |
| 1.59%, 05/24/27 (a)(b) | 750,000 | 659,977 |
| 2.25%, 11/22/27 (a)(b) | 400,000 | 356,668 |
| 4.04%, 03/13/28 (a)(b) | 800,000 | 760,896 |
| 4.76%, 06/09/28 (a)(b) | 600,000 | 583,842 |
| 2.01%, 09/22/28 (a)(b) | 650,000 | 556,582 |
| 4.58%, 06/19/29 (a)(b) | 950,000 | 916,465 |
| 2.21%, 08/17/29 (a)(b) | 650,000 | 546,702 |
| 4.95%, 03/31/30 | 850,000 | 840,437 |
| 3.97%, 05/22/30 (a)(b) | 1,000,000 | 922,260 |
| 2.85%, 06/04/31 (a)(b) | 450,000 | 380,534 |
| 2.36%, 08/18/31 (a)(b) | 500,000 | 406,050 |
| 7.63%, 05/17/32 | 187,000 | 215,817 |
| 2.80%, 05/24/32 (a)(b) | 800,000 | 658,056 |
| 2.87%, 11/22/32 (a)(b) | 600,000 | 492,174 |
| 4.76%, 03/29/33 (a)(b) | 400,000 | 369,656 |
| 6.50%, 05/02/36 | 650,000 | 692,939 |
| 6.50%, 09/15/37 | 750,000 | 804,375 |
| 6.80%, 06/01/38 | 300,000 | 327,135 |
| 6.10%, 01/14/42 | 200,000 | 221,876 |
| 5.25%, 03/14/44 | 495,000 | 461,281 |
| HSBC USA, Inc. | ||
| 3.75%, 05/24/24 | 250,000 | 248,838 |
| 3.50%, 06/23/24 | 200,000 | 198,788 |
| Huntington Bancshares, Inc. | ||
| 2.63%, 08/06/24 (a) | 250,000 | 242,930 |
| 4.00%, 05/15/25 (a) | 150,000 | 149,462 |
| 2.55%, 02/04/30 (a) | 250,000 | 213,320 |
| 2.49%, 08/15/36 (a)(b) | 300,000 | 234,033 |
| Huntington National Bank | ||
| 3.55%, 10/06/23 (a) | 250,000 | 249,860 |
| 4.55%, 05/17/28 (a)(b) | 250,000 | 249,058 |
| ING Groep N.V. | ||
| 4.10%, 10/02/23 | 400,000 | 401,456 |
| 3.55%, 04/09/24 | 250,000 | 248,075 |
| 3.87%, 03/28/26 (a)(b) | 400,000 | 392,460 |
| 3.95%, 03/29/27 | 500,000 | 482,830 |
| 1.73%, 04/01/27 (a)(b) | 300,000 | 268,257 |
| 4.02%, 03/28/28 (a)(b) | 400,000 | 382,064 |
| 4.55%, 10/02/28 | 450,000 | 438,457 |
| 4.05%, 04/09/29 | 255,000 | 239,970 |
| 2.73%, 04/01/32 (a)(b) | 250,000 | 208,805 |
| 4.25%, 03/28/33 (a)(b) | 300,000 | 280,122 |
| Intesa Sanpaolo S.p.A. | ||
| 5.25%, 01/12/24 | 200,000 | 202,010 |
| JPMorgan Chase & Co. | ||
| 3.88%, 02/01/24 | 620,000 | 624,235 |
| 3.63%, 05/13/24 | 500,000 | 500,840 |
| 3.80%, 07/23/24 (a)(b) | 940,000 | 937,359 |
| 3.88%, 09/10/24 | 950,000 | 948,442 |
| 0.65%, 09/16/24 (a)(b) | 350,000 | 335,986 |
| 4.02%, 12/05/24 (a)(b) | 700,000 | 697,823 |
| 3.13%, 01/23/25 (a) | 775,000 | 764,537 |
| 0.56%, 02/16/25 (a)(b) | 300,000 | 283,065 |
| 3.22%, 03/01/25 (a)(b) | 600,000 | 589,908 |
| 0.82%, 06/01/25 (a)(b) | 700,000 | 655,277 |
| 3.85%, 06/14/25 (a)(b) | 600,000 | 594,204 |
| 0.97%, 06/23/25 (a)(b) | 700,000 | 655,130 |
| 3.90%, 07/15/25 (a) | 750,000 | 753,787 |
42
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 7.75%, 07/15/25 | 100,000 | 109,595 |
| 0.77%, 08/09/25 (a)(b) | 250,000 | 232,278 |
| 2.30%, 10/15/25 (a)(b) | 650,000 | 619,983 |
| 1.56%, 12/10/25 (a)(b) | 100,000 | 93,687 |
| 2.60%, 02/24/26 (a)(b) | 400,000 | 380,876 |
| 2.01%, 03/13/26 (a)(b) | 700,000 | 655,529 |
| 3.30%, 04/01/26 (a) | 925,000 | 899,026 |
| 2.08%, 04/22/26 (a)(b) | 1,250,000 | 1,171,987 |
| 4.08%, 04/26/26 (a)(b) | 500,000 | 495,570 |
| 3.20%, 06/15/26 (a) | 599,000 | 581,383 |
| 2.95%, 10/01/26 (a) | 1,125,000 | 1,074,679 |
| 7.63%, 10/15/26 | 150,000 | 169,740 |
| 1.05%, 11/19/26 (a)(b) | 800,000 | 712,504 |
| 4.13%, 12/15/26 | 700,000 | 695,709 |
| 3.96%, 01/29/27 (a)(b) | 750,000 | 734,850 |
| 1.04%, 02/04/27 (a)(b) | 650,000 | 575,217 |
| 1.58%, 04/22/27 (a)(b) | 1,000,000 | 892,860 |
| 8.00%, 04/29/27 | 150,000 | 172,254 |
| 1.47%, 09/22/27 (a)(b) | 750,000 | 658,522 |
| 4.25%, 10/01/27 | 493,000 | 488,686 |
| 3.63%, 12/01/27 (a) | 300,000 | 288,363 |
| 3.78%, 02/01/28 (a)(b) | 1,000,000 | 960,880 |
| 2.95%, 02/24/28 (a)(b) | 500,000 | 464,010 |
| 4.32%, 04/26/28 (a)(b) | 500,000 | 492,560 |
| 3.54%, 05/01/28 (a)(b) | 800,000 | 758,320 |
| 2.18%, 06/01/28 (a)(b) | 500,000 | 446,030 |
| 3.51%, 01/23/29 (a)(b) | 750,000 | 702,765 |
| 4.01%, 04/23/29 (a)(b) | 750,000 | 719,557 |
| 2.07%, 06/01/29 (a)(b) | 750,000 | 645,795 |
| 4.20%, 07/23/29 (a)(b) | 900,000 | 869,148 |
| 4.45%, 12/05/29 (a)(b) | 750,000 | 731,625 |
| 3.70%, 05/06/30 (a)(b) | 900,000 | 839,421 |
| 8.75%, 09/01/30 | 200,000 | 245,090 |
| 2.74%, 10/15/30 (a)(b) | 1,200,000 | 1,047,276 |
| 4.49%, 03/24/31 (a)(b) | 1,000,000 | 978,790 |
| 2.52%, 04/22/31 (a)(b) | 950,000 | 810,445 |
| 2.96%, 05/13/31 (a)(b) | 1,000,000 | 866,760 |
| 1.76%, 11/19/31 (a)(b) | 500,000 | 396,750 |
| 1.95%, 02/04/32 (a)(b) | 900,000 | 720,306 |
| 2.58%, 04/22/32 (a)(b) | 1,200,000 | 1,011,240 |
| 2.55%, 11/08/32 (a)(b) | 750,000 | 623,812 |
| 2.96%, 01/25/33 (a)(b) | 750,000 | 644,610 |
| 4.59%, 04/26/33 (a)(b) | 500,000 | 491,895 |
| 6.40%, 05/15/38 | 750,000 | 855,982 |
| 3.88%, 07/24/38 (a)(b) | 850,000 | 750,108 |
| 5.50%, 10/15/40 | 350,000 | 363,916 |
| 3.11%, 04/22/41 (a)(b) | 350,000 | 272,745 |
| 5.60%, 07/15/41 | 500,000 | 526,685 |
| 2.53%, 11/19/41 (a)(b) | 500,000 | 357,315 |
| 5.40%, 01/06/42 | 450,000 | 462,748 |
| 3.16%, 04/22/42 (a)(b) | 650,000 | 506,168 |
| 5.63%, 08/16/43 | 400,000 | 419,600 |
| 4.85%, 02/01/44 | 100,000 | 98,375 |
| 4.95%, 06/01/45 | 400,000 | 382,620 |
| 4.26%, 02/22/48 (a)(b) | 675,000 | 602,593 |
| 4.03%, 07/24/48 (a)(b) | 500,000 | 432,825 |
| 3.96%, 11/15/48 (a)(b) | 1,100,000 | 940,280 |
| 3.90%, 01/23/49 (a)(b) | 500,000 | 423,000 |
| 3.11%, 04/22/51 (a)(b) | 750,000 | 553,695 |
| 3.33%, 04/22/52 (a)(b) | 1,100,000 | 842,193 |
| KeyBank NA | ||
| 3.30%, 06/01/25 | 450,000 | 443,173 |
| 4.39%, 12/14/27 | 250,000 | 249,253 |
| 6.95%, 02/01/28 | 150,000 | 165,206 |
| 3.90%, 04/13/29 | 250,000 | 236,188 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| KeyCorp | ||
| 2.25%, 04/06/27 | 250,000 | 225,145 |
| 4.10%, 04/30/28 | 400,000 | 386,020 |
| 2.55%, 10/01/29 | 150,000 | 129,858 |
| Lloyds Banking Group PLC | ||
| 4.05%, 08/16/23 | 500,000 | 501,655 |
| 3.90%, 03/12/24 | 350,000 | 349,514 |
| 4.50%, 11/04/24 | 300,000 | 299,031 |
| 4.45%, 05/08/25 | 300,000 | 300,519 |
| 3.87%, 07/09/25 (a)(b) | 400,000 | 395,648 |
| 4.58%, 12/10/25 | 200,000 | 196,426 |
| 2.44%, 02/05/26 (a)(b) | 250,000 | 236,928 |
| 3.51%, 03/18/26 (a)(b) | 300,000 | 292,350 |
| 4.65%, 03/24/26 | 750,000 | 737,467 |
| 3.75%, 01/11/27 | 400,000 | 386,400 |
| 1.63%, 05/11/27 (a)(b) | 300,000 | 267,108 |
| 3.75%, 03/18/28 (a)(b) | 300,000 | 285,483 |
| 4.38%, 03/22/28 | 750,000 | 729,232 |
| 4.55%, 08/16/28 | 200,000 | 195,864 |
| 3.57%, 11/07/28 (a)(b) | 750,000 | 703,725 |
| 5.30%, 12/01/45 | 350,000 | 326,438 |
| 4.34%, 01/09/48 | 500,000 | 412,730 |
| Manufacturers & Traders Trust Co. | ||
| 2.90%, 02/06/25 (a) | 250,000 | 244,988 |
| 3.40%, 08/17/27 | 250,000 | 237,555 |
| Mitsubishi UFJ Financial Group, Inc. | ||
| 3.76%, 07/26/23 | 750,000 | 749,482 |
| 3.41%, 03/07/24 | 500,000 | 496,570 |
| 2.80%, 07/18/24 | 300,000 | 292,512 |
| 0.85%, 09/15/24 (a)(b) | 750,000 | 722,992 |
| 2.19%, 02/25/25 | 850,000 | 807,959 |
| 3.78%, 03/02/25 | 350,000 | 347,715 |
| 1.41%, 07/17/25 | 600,000 | 552,114 |
| 0.95%, 07/19/25 (a)(b) | 700,000 | 654,094 |
| 0.96%, 10/11/25 (a)(b) | 400,000 | 370,940 |
| 3.85%, 03/01/26 | 750,000 | 737,812 |
| 2.76%, 09/13/26 | 200,000 | 187,322 |
| 3.68%, 02/22/27 | 300,000 | 290,745 |
| 1.54%, 07/20/27 (a)(b) | 500,000 | 441,740 |
| 3.29%, 07/25/27 | 550,000 | 521,279 |
| 2.34%, 01/19/28 (a)(b) | 400,000 | 361,620 |
| 3.96%, 03/02/28 | 250,000 | 241,635 |
| 3.74%, 03/07/29 | 700,000 | 660,338 |
| 3.20%, 07/18/29 | 650,000 | 587,301 |
| 2.56%, 02/25/30 | 400,000 | 343,596 |
| 2.05%, 07/17/30 | 550,000 | 449,427 |
| 2.31%, 07/20/32 (a)(b) | 500,000 | 407,830 |
| 2.85%, 01/19/33 (a)(b) | 400,000 | 340,388 |
| 4.32%, 04/19/33 (a)(b) | 200,000 | 192,480 |
| 4.29%, 07/26/38 | 200,000 | 185,994 |
| 4.15%, 03/07/39 | 150,000 | 137,889 |
| 3.75%, 07/18/39 | 500,000 | 435,925 |
| Mizuho Financial Group, Inc. | ||
| 1.24%, 07/10/24 (a)(b) | 400,000 | 389,016 |
| 0.85%, 09/08/24 (a)(b) | 250,000 | 240,523 |
| 3.92%, 09/11/24 (a)(b) | 250,000 | 249,625 |
| 2.56%, 09/13/25 (a)(b) | 200,000 | 191,904 |
| 2.23%, 05/25/26 (a)(b) | 400,000 | 374,584 |
| 3.66%, 02/28/27 | 200,000 | 191,584 |
| 1.23%, 05/22/27 (a)(b) | 250,000 | 218,713 |
| 1.55%, 07/09/27 (a)(b) | 250,000 | 220,023 |
| 3.17%, 09/11/27 | 700,000 | 650,650 |
| 4.02%, 03/05/28 | 300,000 | 287,691 |
| 4.25%, 09/11/29 (a)(b) | 550,000 | 530,491 |
| 3.15%, 07/16/30 (a)(b) | 250,000 | 222,780 |
| 2.87%, 09/13/30 (a)(b) | 200,000 | 174,288 |
| 2.59%, 05/25/31 (a)(b) | 350,000 | 294,431 |
43
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.20%, 07/10/31 (a)(b) | 250,000 | 203,570 |
| 1.98%, 09/08/31 (a)(b) | 400,000 | 317,700 |
| 2.56%, 09/13/31 | 200,000 | 160,414 |
| 2.26%, 07/09/32 (a)(b) | 250,000 | 199,805 |
| Morgan Stanley | ||
| 3.88%, 04/29/24 | 950,000 | 952,945 |
| 3.70%, 10/23/24 | 950,000 | 948,299 |
| 0.79%, 01/22/25 (a)(b) | 250,000 | 236,630 |
| 3.62%, 04/17/25 (a)(b) | 600,000 | 592,878 |
| 0.79%, 05/30/25 (a)(b) | 1,100,000 | 1,025,013 |
| 2.72%, 07/22/25 (a)(b) | 490,000 | 472,997 |
| 4.00%, 07/23/25 | 1,000,000 | 1,000,590 |
| 0.86%, 10/21/25 (a)(b) | 400,000 | 369,288 |
| 1.16%, 10/21/25 (a)(b) | 500,000 | 463,890 |
| 5.00%, 11/24/25 | 750,000 | 763,732 |
| 3.88%, 01/27/26 | 1,050,000 | 1,036,255 |
| 2.63%, 02/18/26 (a)(b) | 500,000 | 478,430 |
| 2.19%, 04/28/26 (a)(b) | 750,000 | 703,882 |
| 3.13%, 07/27/26 | 1,000,000 | 954,690 |
| 6.25%, 08/09/26 | 200,000 | 213,240 |
| 4.35%, 09/08/26 | 750,000 | 743,062 |
| 0.99%, 12/10/26 (a)(b) | 700,000 | 621,124 |
| 3.63%, 01/20/27 | 1,150,000 | 1,116,914 |
| 3.95%, 04/23/27 | 650,000 | 630,799 |
| 1.59%, 05/04/27 (a)(b) | 750,000 | 669,240 |
| 1.51%, 07/20/27 (a)(b) | 1,000,000 | 879,770 |
| 2.48%, 01/21/28 (a)(b) | 750,000 | 683,070 |
| 4.21%, 04/20/28 (a)(b) | 750,000 | 734,145 |
| 3.59%, 07/22/28 (a)(b) | 1,100,000 | 1,042,558 |
| 3.77%, 01/24/29 (a)(b) | 850,000 | 809,234 |
| 4.43%, 01/23/30 (a)(b) | 1,100,000 | 1,069,233 |
| 2.70%, 01/22/31 (a)(b) | 1,150,000 | 997,705 |
| 3.62%, 04/01/31 (a)(b) | 1,000,000 | 920,120 |
| 1.79%, 02/13/32 (a)(b) | 450,000 | 355,091 |
| 7.25%, 04/01/32 | 300,000 | 354,657 |
| 1.93%, 04/28/32 (a)(b) | 600,000 | 476,268 |
| 2.24%, 07/21/32 (a)(b) | 1,250,000 | 1,016,087 |
| 2.51%, 10/20/32 (a)(b) | 750,000 | 621,525 |
| 2.94%, 01/21/33 (a)(b) | 750,000 | 643,455 |
| 2.48%, 09/16/36 (a)(b) | 900,000 | 692,226 |
| 5.30%, 04/20/37 (a)(b) | 400,000 | 388,468 |
| 3.97%, 07/22/38 (a)(b) | 600,000 | 538,854 |
| 4.46%, 04/22/39 (a)(b) | 250,000 | 234,728 |
| 3.22%, 04/22/42 (a)(b) | 700,000 | 551,754 |
| 6.38%, 07/24/42 | 700,000 | 803,614 |
| 4.30%, 01/27/45 | 850,000 | 766,130 |
| 4.38%, 01/22/47 | 750,000 | 683,490 |
| 5.60%, 03/24/51 (a)(b) | 500,000 | 542,240 |
| 2.80%, 01/25/52 (a)(b) | 450,000 | 312,953 |
| National Australia Bank Ltd. | ||
| 3.38%, 01/14/26 | 250,000 | 245,948 |
| 2.50%, 07/12/26 | 250,000 | 235,878 |
| 3.91%, 06/09/27 | 500,000 | 494,270 |
| National Bank of Canada | ||
| 0.55%, 11/15/24 (a)(b) | 250,000 | 238,630 |
| 3.75%, 06/09/25 (a)(b) | 250,000 | 248,213 |
| Natwest Group PLC | ||
| 3.88%, 09/12/23 | 750,000 | 748,147 |
| 6.00%, 12/19/23 | 400,000 | 407,560 |
| 5.13%, 05/28/24 | 400,000 | 401,776 |
| 4.27%, 03/22/25 (a)(b) | 700,000 | 693,238 |
| 4.80%, 04/05/26 | 600,000 | 598,392 |
| 1.64%, 06/14/27 (a)(b) | 250,000 | 219,633 |
| 3.07%, 05/22/28 (a)(b) | 300,000 | 273,075 |
| 5.52%, 09/30/28 (a)(b) | 300,000 | 302,622 |
| 4.89%, 05/18/29 (a)(b) | 550,000 | 533,621 |
| 3.75%, 11/01/29 (a)(b) | 200,000 | 192,100 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.08%, 01/27/30 (a)(b) | 550,000 | 539,247 |
| 4.45%, 05/08/30 (a)(b) | 300,000 | 283,641 |
| 3.03%, 11/28/35 (a)(b) | 250,000 | 201,565 |
| New York Community Bancorp, Inc. | ||
| 5.90%, 11/06/28 (a)(b) | 200,000 | 202,504 |
| Northern Trust Corp. | ||
| 3.95%, 10/30/25 | 300,000 | 301,410 |
| 4.00%, 05/10/27 (a) | 150,000 | 151,142 |
| 3.65%, 08/03/28 (a) | 250,000 | 244,835 |
| 3.15%, 05/03/29 (a) | 150,000 | 140,915 |
| 1.95%, 05/01/30 (a) | 250,000 | 212,583 |
| PNC Bank NA | ||
| 3.80%, 07/25/23 (a) | 250,000 | 251,283 |
| 2.50%, 08/27/24 (a) | 250,000 | 243,720 |
| 3.30%, 10/30/24 (a) | 250,000 | 247,978 |
| 3.88%, 04/10/25 (a) | 250,000 | 247,918 |
| 3.25%, 06/01/25 (a) | 500,000 | 492,950 |
| 3.10%, 10/25/27 (a) | 300,000 | 285,294 |
| 3.25%, 01/22/28 (a) | 250,000 | 238,400 |
| 4.05%, 07/26/28 | 550,000 | 532,647 |
| 2.70%, 10/22/29 | 300,000 | 261,522 |
| PNC Financial Services Group, Inc. | ||
| 3.50%, 01/23/24 (a) | 350,000 | 350,221 |
| 3.90%, 04/29/24 (a) | 100,000 | 100,563 |
| 2.20%, 11/01/24 (a) | 300,000 | 291,054 |
| 2.60%, 07/23/26 (a) | 400,000 | 378,748 |
| 3.15%, 05/19/27 (a) | 100,000 | 95,469 |
| 3.45%, 04/23/29 (a) | 500,000 | 467,595 |
| 2.55%, 01/22/30 (a) | 700,000 | 609,546 |
| 2.31%, 04/23/32 (a)(b) | 300,000 | 251,286 |
| Regions Bank | ||
| 6.45%, 06/26/37 | 250,000 | 281,183 |
| Regions Financial Corp. | ||
| 2.25%, 05/18/25 (a) | 250,000 | 238,695 |
| 1.80%, 08/12/28 (a) | 250,000 | 213,228 |
| Royal Bank of Canada | ||
| 3.70%, 10/05/23 | 650,000 | 654,335 |
| 0.50%, 10/26/23 | 425,000 | 411,200 |
| 0.43%, 01/19/24 | 550,000 | 526,872 |
| 2.55%, 07/16/24 | 500,000 | 488,860 |
| 0.75%, 10/07/24 | 200,000 | 186,734 |
| 2.25%, 11/01/24 | 650,000 | 628,634 |
| 1.60%, 01/21/25 | 200,000 | 189,524 |
| 3.38%, 04/14/25 | 400,000 | 394,876 |
| 1.15%, 06/10/25 | 200,000 | 185,064 |
| 0.88%, 01/20/26 | 650,000 | 583,141 |
| 4.65%, 01/27/26 | 700,000 | 707,994 |
| 1.20%, 04/27/26 | 350,000 | 314,703 |
| 1.15%, 07/14/26 | 300,000 | 267,888 |
| 1.40%, 11/02/26 | 200,000 | 177,758 |
| 3.63%, 05/04/27 | 400,000 | 389,136 |
| 2.30%, 11/03/31 | 500,000 | 417,345 |
| 3.88%, 05/04/32 | 250,000 | 238,355 |
| Santander Holdings USA, Inc. | ||
| 3.50%, 06/07/24 (a) | 250,000 | 245,678 |
| 3.45%, 06/02/25 (a) | 250,000 | 241,113 |
| 4.50%, 07/17/25 (a) | 600,000 | 598,386 |
| 3.24%, 10/05/26 (a)(c) | 350,000 | 328,395 |
| 4.40%, 07/13/27 (a) | 400,000 | 385,600 |
| Santander UK Group Holdings PLC | ||
| 1.09%, 03/15/25 (a)(b) | 500,000 | 467,400 |
| 1.53%, 08/21/26 (a)(b) | 450,000 | 403,290 |
| 1.67%, 06/14/27 (a)(b) | 200,000 | 174,942 |
| 2.47%, 01/11/28 (a)(b) | 400,000 | 355,016 |
| 3.82%, 11/03/28 (a)(b) | 200,000 | 186,038 |
| 2.90%, 03/15/32 (a)(b) | 300,000 | 250,038 |
44
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Santander UK PLC | ||
| 4.00%, 03/13/24 | 400,000 | 400,680 |
| 2.88%, 06/18/24 | 100,000 | 97,634 |
| Signature Bank | ||
| 4.00%, 10/15/30 (a)(b) | 150,000 | 143,747 |
| State Street Corp. | ||
| 3.70%, 11/20/23 | 200,000 | 201,668 |
| 3.78%, 12/03/24 (a)(b) | 250,000 | 249,833 |
| 3.30%, 12/16/24 | 400,000 | 399,016 |
| 3.55%, 08/18/25 | 571,000 | 568,522 |
| 2.35%, 11/01/25 (a)(b) | 450,000 | 433,170 |
| 2.90%, 03/30/26 (a)(b) | 100,000 | 97,033 |
| 2.65%, 05/19/26 | 450,000 | 430,888 |
| 4.14%, 12/03/29 (a)(b) | 300,000 | 294,126 |
| 2.40%, 01/24/30 | 250,000 | 218,418 |
| 2.20%, 03/03/31 | 200,000 | 163,582 |
| 2.62%, 02/07/33 (a)(b) | 150,000 | 128,090 |
| 4.42%, 05/13/33 (a)(b) | 150,000 | 147,903 |
| Sumitomo Mitsui Banking Corp. | ||
| 3.95%, 01/10/24 | 250,000 | 251,083 |
| 3.40%, 07/11/24 | 250,000 | 247,783 |
| 3.65%, 07/23/25 | 250,000 | 246,488 |
| Sumitomo Mitsui Financial Group, Inc. | ||
| 3.75%, 07/19/23 | 250,000 | 250,995 |
| 3.94%, 10/16/23 | 250,000 | 251,520 |
| 2.70%, 07/16/24 | 600,000 | 584,718 |
| 2.45%, 09/27/24 | 350,000 | 337,764 |
| 2.35%, 01/15/25 | 450,000 | 430,762 |
| 1.47%, 07/08/25 | 750,000 | 691,035 |
| 3.78%, 03/09/26 | 750,000 | 737,535 |
| 2.63%, 07/14/26 | 800,000 | 748,664 |
| 1.40%, 09/17/26 | 500,000 | 442,705 |
| 3.01%, 10/19/26 | 600,000 | 568,416 |
| 3.45%, 01/11/27 | 300,000 | 288,171 |
| 2.17%, 01/14/27 | 200,000 | 181,534 |
| 3.36%, 07/12/27 | 600,000 | 571,578 |
| 3.54%, 01/17/28 | 300,000 | 285,090 |
| 3.94%, 07/19/28 | 150,000 | 144,269 |
| 1.90%, 09/17/28 | 700,000 | 594,720 |
| 4.31%, 10/16/28 | 250,000 | 244,993 |
| 3.04%, 07/16/29 | 950,000 | 847,400 |
| 2.72%, 09/27/29 | 200,000 | 175,072 |
| 2.75%, 01/15/30 | 450,000 | 392,620 |
| 2.13%, 07/08/30 | 450,000 | 371,268 |
| 2.14%, 09/23/30 | 350,000 | 280,805 |
| 2.22%, 09/17/31 | 350,000 | 283,791 |
| 2.30%, 01/12/41 | 300,000 | 205,641 |
| 2.93%, 09/17/41 | 250,000 | 184,310 |
| SVB Financial Group | ||
| 3.50%, 01/29/25 | 100,000 | 98,111 |
| 3.13%, 06/05/30 (a) | 250,000 | 216,085 |
| 1.80%, 02/02/31 (a) | 350,000 | 270,113 |
| 4.57%, 04/29/33 (a)(b) | 150,000 | 140,714 |
| Svenska Handelsbanken AB | ||
| 3.90%, 11/20/23 | 400,000 | 402,048 |
| Synchrony Financial | ||
| 4.38%, 03/19/24 (a) | 158,000 | 157,077 |
| 4.25%, 08/15/24 (a) | 250,000 | 248,915 |
| 3.70%, 08/04/26 (a) | 450,000 | 417,258 |
| 3.95%, 12/01/27 (a) | 450,000 | 410,035 |
| 5.15%, 03/19/29 (a) | 450,000 | 421,600 |
| Toronto-Dominion Bank | ||
| 3.50%, 07/19/23 | 600,000 | 601,968 |
| 0.45%, 09/11/23 | 500,000 | 484,170 |
| 0.55%, 03/04/24 | 150,000 | 142,823 |
| 3.25%, 03/11/24 | 400,000 | 397,352 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.65%, 06/12/24 | 500,000 | 490,775 |
| 0.70%, 09/10/24 | 300,000 | 281,775 |
| 1.45%, 01/10/25 | 200,000 | 189,460 |
| 1.15%, 06/12/25 | 400,000 | 369,432 |
| 0.75%, 09/11/25 | 525,000 | 474,180 |
| 0.75%, 01/06/26 | 375,000 | 335,569 |
| 1.20%, 06/03/26 | 500,000 | 447,640 |
| 1.25%, 09/10/26 | 500,000 | 444,035 |
| 1.95%, 01/12/27 | 250,000 | 226,058 |
| 2.80%, 03/10/27 | 350,000 | 328,146 |
| 4.11%, 06/08/27 | 500,000 | 494,985 |
| 2.00%, 09/10/31 | 300,000 | 244,389 |
| 3.63%, 09/15/31 (a)(b) | 450,000 | 433,575 |
| 2.45%, 01/12/32 | 225,000 | 188,692 |
| 3.20%, 03/10/32 | 500,000 | 446,480 |
| 4.46%, 06/08/32 | 600,000 | 593,772 |
| Truist Bank | ||
| 3.20%, 04/01/24 (a) | 350,000 | 348,733 |
| 3.69%, 08/02/24 (a)(b) | 350,000 | 349,962 |
| 1.50%, 03/10/25 (a) | 400,000 | 377,800 |
| 3.63%, 09/16/25 (a) | 750,000 | 736,492 |
| 4.05%, 11/03/25 (a) | 350,000 | 352,118 |
| 3.80%, 10/30/26 (a) | 250,000 | 244,345 |
| 2.25%, 03/11/30 (a) | 600,000 | 503,328 |
| Truist Financial Corp. | ||
| 3.75%, 12/06/23 (a) | 400,000 | 402,736 |
| 2.50%, 08/01/24 (a) | 160,000 | 156,264 |
| 2.85%, 10/26/24 (a) | 100,000 | 98,059 |
| 4.00%, 05/01/25 (a) | 500,000 | 501,365 |
| 3.70%, 06/05/25 (a) | 230,000 | 229,200 |
| 1.20%, 08/05/25 (a) | 400,000 | 368,468 |
| 1.13%, 08/03/27 (a) | 500,000 | 429,360 |
| 4.12%, 06/06/28 (a)(b) | 300,000 | 296,322 |
| 3.88%, 03/19/29 (a) | 200,000 | 189,672 |
| 1.89%, 06/07/29 (a)(b) | 350,000 | 301,287 |
| US Bancorp | ||
| 3.70%, 01/30/24 (a) | 250,000 | 251,405 |
| 3.38%, 02/05/24 (a) | 450,000 | 451,012 |
| 2.40%, 07/30/24 (a) | 400,000 | 390,644 |
| 3.60%, 09/11/24 (a) | 500,000 | 499,170 |
| 1.45%, 05/12/25 (a) | 500,000 | 469,805 |
| 3.95%, 11/17/25 (a) | 300,000 | 301,716 |
| 3.10%, 04/27/26 (a) | 100,000 | 96,527 |
| 2.38%, 07/22/26 (a) | 400,000 | 377,548 |
| 3.15%, 04/27/27 (a) | 750,000 | 722,347 |
| 3.90%, 04/26/28 (a) | 450,000 | 445,221 |
| 1.38%, 07/22/30 (a) | 450,000 | 359,145 |
| 2.68%, 01/27/33 (a)(b) | 250,000 | 215,983 |
| 2.49%, 11/03/36 (a)(b) | 400,000 | 327,176 |
| US Bank NA | ||
| 2.05%, 01/21/25 (a) | 300,000 | 288,078 |
| 2.80%, 01/27/25 (a) | 500,000 | 488,970 |
| Valley National Bancorp | ||
| 3.00%, 06/15/31 (a)(b) | 150,000 | 135,594 |
| Wachovia Corp. | ||
| 5.50%, 08/01/35 | 100,000 | 102,188 |
| Webster Financial Corp. | ||
| 4.10%, 03/25/29 (a) | 100,000 | 95,032 |
| Wells Fargo & Co. | ||
| 4.48%, 01/16/24 | 350,000 | 354,263 |
| 3.75%, 01/24/24 (a) | 1,000,000 | 1,002,080 |
| 3.30%, 09/09/24 | 750,000 | 741,517 |
| 3.00%, 02/19/25 | 900,000 | 880,605 |
| 3.55%, 09/29/25 | 900,000 | 884,466 |
| 2.41%, 10/30/25 (a)(b) | 1,000,000 | 954,280 |
| 2.16%, 02/11/26 (a)(b) | 1,000,000 | 941,870 |
45
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.00%, 04/22/26 | 1,250,000 | 1,191,487 |
| 3.91%, 04/25/26 (a)(b) | 800,000 | 787,544 |
| 2.19%, 04/30/26 (a)(b) | 1,000,000 | 938,110 |
| 4.10%, 06/03/26 | 800,000 | 786,688 |
| 7.57%, 08/01/26 | 200,000 | 220,166 |
| 3.00%, 10/23/26 | 1,200,000 | 1,133,304 |
| 3.20%, 06/17/27 (a)(b) | 750,000 | 711,802 |
| 4.30%, 07/22/27 | 800,000 | 791,120 |
| 3.53%, 03/24/28 (a)(b) | 500,000 | 474,595 |
| 3.58%, 05/22/28 (a)(b) | 950,000 | 901,113 |
| 2.39%, 06/02/28 (a)(b) | 750,000 | 672,315 |
| 4.15%, 01/24/29 (a) | 750,000 | 726,210 |
| 7.95%, 11/15/29 | 100,000 | 116,069 |
| 2.88%, 10/30/30 (a)(b) | 1,200,000 | 1,056,972 |
| 2.57%, 02/11/31 (a)(b) | 1,050,000 | 903,441 |
| 4.48%, 04/04/31 (a)(b) | 950,000 | 930,145 |
| 3.35%, 03/02/33 (a)(b) | 1,000,000 | 889,430 |
| 5.38%, 02/07/35 | 100,000 | 103,926 |
| 3.07%, 04/30/41 (a)(b) | 1,050,000 | 819,252 |
| 5.38%, 11/02/43 | 600,000 | 592,560 |
| 5.61%, 01/15/44 | 775,000 | 781,626 |
| 4.65%, 11/04/44 | 600,000 | 541,170 |
| 3.90%, 05/01/45 | 750,000 | 633,862 |
| 4.90%, 11/17/45 | 600,000 | 556,878 |
| 4.40%, 06/14/46 | 650,000 | 567,495 |
| 4.75%, 12/07/46 | 650,000 | 594,379 |
| 5.01%, 04/04/51 (a)(b) | 1,600,000 | 1,572,800 |
| 4.61%, 04/25/53 (a)(b) | 850,000 | 787,822 |
| 5.95%, 12/01/86 | 100,000 | 101,983 |
| Wells Fargo Bank NA | ||
| 5.95%, 08/26/36 | 275,000 | 296,714 |
| 5.85%, 02/01/37 | 250,000 | 267,250 |
| 6.60%, 01/15/38 | 450,000 | 520,258 |
| Western Alliance Bancorp | ||
| 3.00%, 06/15/31 (a)(b) | 150,000 | 135,053 |
| Westpac Banking Corp. | ||
| 3.30%, 02/26/24 | 250,000 | 249,438 |
| 1.02%, 11/18/24 | 300,000 | 282,381 |
| 2.35%, 02/19/25 | 400,000 | 386,756 |
| 2.85%, 05/13/26 | 800,000 | 768,280 |
| 1.15%, 06/03/26 | 400,000 | 359,260 |
| 2.70%, 08/19/26 | 550,000 | 523,259 |
| 3.35%, 03/08/27 | 550,000 | 533,049 |
| 3.40%, 01/25/28 | 300,000 | 288,186 |
| 1.95%, 11/20/28 | 150,000 | 130,868 |
| 2.65%, 01/16/30 | 250,000 | 222,580 |
| 2.89%, 02/04/30 (a)(b) | 400,000 | 379,320 |
| 2.15%, 06/03/31 | 250,000 | 210,120 |
| 4.32%, 11/23/31 (a)(b) | 550,000 | 530,068 |
| 4.11%, 07/24/34 (a)(b) | 600,000 | 549,972 |
| 2.67%, 11/15/35 (a)(b) | 200,000 | 160,748 |
| 3.02%, 11/18/36 (a)(b) | 250,000 | 202,028 |
| 4.42%, 07/24/39 | 400,000 | 360,068 |
| 2.96%, 11/16/40 | 400,000 | 290,732 |
| 3.13%, 11/18/41 | 300,000 | 221,481 |
| Zions Bancorp NA | ||
| 3.25%, 10/29/29 (a) | 300,000 | 262,452 |
| 407,908,158 | ||
| Brokerage/Asset Managers/Exchanges 0.4% | ||
| Affiliated Managers Group, Inc. | ||
| 4.25%, 02/15/24 | 125,000 | 125,896 |
| 3.30%, 06/15/30 (a) | 250,000 | 225,737 |
| Ameriprise Financial, Inc. | ||
| 4.00%, 10/15/23 | 250,000 | 251,592 |
| 3.70%, 10/15/24 | 275,000 | 275,162 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.00%, 04/02/25 (a) | 150,000 | 146,763 |
| 2.88%, 09/15/26 (a) | 150,000 | 143,552 |
| BGC Partners, Inc. | ||
| 5.38%, 07/24/23 | 250,000 | 250,402 |
| 3.75%, 10/01/24 (a) | 50,000 | 48,798 |
| BlackRock, Inc. | ||
| 3.50%, 03/18/24 | 400,000 | 402,300 |
| 3.20%, 03/15/27 | 200,000 | 196,442 |
| 3.25%, 04/30/29 (a) | 500,000 | 472,640 |
| 2.40%, 04/30/30 (a) | 250,000 | 219,218 |
| 1.90%, 01/28/31 (a) | 500,000 | 414,940 |
| Brookfield Asset Management, Inc. | ||
| 4.00%, 01/15/25 (a) | 150,000 | 149,073 |
| Brookfield Finance LLC | ||
| 3.45%, 04/15/50 (a) | 200,000 | 143,182 |
| Brookfield Finance, Inc. | ||
| 4.00%, 04/01/24 (a) | 250,000 | 249,502 |
| 3.90%, 01/25/28 (a) | 500,000 | 478,630 |
| 4.85%, 03/29/29 (a) | 350,000 | 346,769 |
| 4.35%, 04/15/30 (a) | 350,000 | 334,687 |
| 4.70%, 09/20/47 (a) | 350,000 | 307,723 |
| 3.50%, 03/30/51 (a) | 250,000 | 181,835 |
| 3.63%, 02/15/52 (a) | 100,000 | 73,708 |
| Cboe Global Markets, Inc. | ||
| 3.65%, 01/12/27 (a) | 250,000 | 244,297 |
| 1.63%, 12/15/30 (a) | 50,000 | 40,272 |
| 3.00%, 03/16/32 (a) | 100,000 | 89,587 |
| CI Financial Corp. | ||
| 3.20%, 12/17/30 (a) | 350,000 | 272,867 |
| 4.10%, 06/15/51 (a) | 300,000 | 200,850 |
| CME Group, Inc. | ||
| 3.00%, 03/15/25 (a) | 200,000 | 197,716 |
| 3.75%, 06/15/28 (a) | 250,000 | 246,885 |
| 5.30%, 09/15/43 (a) | 300,000 | 326,076 |
| 4.15%, 06/15/48 (a) | 250,000 | 240,777 |
| E*TRADE Financial Corp. | ||
| 3.80%, 08/24/27 (a) | 100,000 | 96,501 |
| 4.50%, 06/20/28 (a) | 150,000 | 150,005 |
| Eaton Vance Corp. | ||
| 3.50%, 04/06/27 (a) | 123,000 | 118,290 |
| Franklin Resources, Inc. | ||
| 2.85%, 03/30/25 | 150,000 | 146,033 |
| 1.60%, 10/30/30 (a) | 300,000 | 235,785 |
| 2.95%, 08/12/51 (a) | 100,000 | 69,305 |
| Intercontinental Exchange, Inc. | ||
| 3.65%, 05/23/25 (a) | 350,000 | 347,854 |
| 3.75%, 12/01/25 (a) | 250,000 | 248,105 |
| 3.10%, 09/15/27 (a) | 250,000 | 236,297 |
| 4.00%, 09/15/27 (a) | 450,000 | 443,020 |
| 3.75%, 09/21/28 (a) | 200,000 | 192,404 |
| 4.35%, 06/15/29 (a) | 300,000 | 296,271 |
| 2.10%, 06/15/30 (a) | 450,000 | 377,253 |
| 1.85%, 09/15/32 (a) | 500,000 | 391,960 |
| 4.60%, 03/15/33 (a) | 475,000 | 472,525 |
| 2.65%, 09/15/40 (a) | 250,000 | 183,733 |
| 4.25%, 09/21/48 (a) | 400,000 | 357,676 |
| 3.00%, 06/15/50 (a) | 400,000 | 292,276 |
| 4.95%, 06/15/52 (a) | 475,000 | 467,937 |
| 3.00%, 09/15/60 (a) | 550,000 | 373,120 |
| 5.20%, 06/15/62 (a) | 300,000 | 299,919 |
| Invesco Finance PLC | ||
| 4.00%, 01/30/24 | 50,000 | 50,064 |
| 3.75%, 01/15/26 | 350,000 | 345,856 |
| 5.38%, 11/30/43 | 100,000 | 100,541 |
46
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Janus Capital Group, Inc. | ||
| 4.88%, 08/01/25 (a) | 150,000 | 151,364 |
| Jefferies Group LLC | ||
| 6.45%, 06/08/27 | 200,000 | 213,828 |
| 6.25%, 01/15/36 | 225,000 | 223,655 |
| 6.50%, 01/20/43 | 175,000 | 176,234 |
| Jefferies Group LLC/Jefferies Group Capital Finance, Inc. | ||
| 4.85%, 01/15/27 | 300,000 | 299,307 |
| 4.15%, 01/23/30 | 300,000 | 269,316 |
| 2.63%, 10/15/31 (a) | 300,000 | 231,426 |
| Lazard Group LLC | ||
| 3.75%, 02/13/25 | 50,000 | 49,077 |
| 3.63%, 03/01/27 (a) | 200,000 | 189,612 |
| 4.50%, 09/19/28 (a) | 175,000 | 168,207 |
| 4.38%, 03/11/29 (a) | 150,000 | 143,300 |
| Legg Mason, Inc. | ||
| 4.75%, 03/15/26 | 150,000 | 153,833 |
| 5.63%, 01/15/44 | 176,000 | 181,359 |
| Nasdaq, Inc. | ||
| 3.85%, 06/30/26 (a) | 250,000 | 248,617 |
| 2.50%, 12/21/40 (a) | 350,000 | 242,329 |
| 3.25%, 04/28/50 (a) | 300,000 | 218,985 |
| Nomura Holdings, Inc. | ||
| 2.65%, 01/16/25 | 500,000 | 474,550 |
| 1.85%, 07/16/25 | 500,000 | 460,525 |
| 1.65%, 07/14/26 | 500,000 | 439,085 |
| 2.33%, 01/22/27 | 400,000 | 354,164 |
| 2.17%, 07/14/28 | 400,000 | 337,640 |
| 3.10%, 01/16/30 | 500,000 | 425,790 |
| 2.68%, 07/16/30 | 350,000 | 287,458 |
| 2.61%, 07/14/31 | 200,000 | 159,590 |
| 3.00%, 01/22/32 | 200,000 | 162,508 |
| Raymond James Financial, Inc. | ||
| 4.65%, 04/01/30 (a) | 200,000 | 197,368 |
| 4.95%, 07/15/46 | 300,000 | 293,121 |
| 3.75%, 04/01/51 (a) | 200,000 | 164,046 |
| Stifel Financial Corp. | ||
| 4.25%, 07/18/24 | 100,000 | 100,453 |
| 4.00%, 05/15/30 (a) | 200,000 | 185,606 |
| The Charles Schwab Corp. | ||
| 3.55%, 02/01/24 (a)(d) | 150,000 | 150,330 |
| 0.75%, 03/18/24 (a)(d) | 450,000 | 431,635 |
| 3.75%, 04/01/24 (a)(d) | 80,000 | 80,572 |
| 3.00%, 03/10/25 (a)(d) | 100,000 | 98,564 |
| 4.20%, 03/24/25 (a)(d) | 150,000 | 152,426 |
| 3.63%, 04/01/25 (a)(d) | 100,000 | 99,898 |
| 3.85%, 05/21/25 (a)(d) | 175,000 | 175,807 |
| 3.45%, 02/13/26 (a)(d) | 100,000 | 99,167 |
| 0.90%, 03/11/26 (a)(d) | 375,000 | 337,436 |
| 1.15%, 05/13/26 (a)(d) | 250,000 | 225,840 |
| 3.20%, 03/02/27 (a)(d) | 175,000 | 169,425 |
| 2.45%, 03/03/27 (a)(d) | 450,000 | 420,430 |
| 3.30%, 04/01/27 (a)(d) | 175,000 | 170,053 |
| 3.20%, 01/25/28 (a)(d) | 200,000 | 191,466 |
| 2.00%, 03/20/28 (a)(d) | 350,000 | 312,896 |
| 4.00%, 02/01/29 (a)(d) | 150,000 | 147,782 |
| 3.25%, 05/22/29 (a)(d) | 150,000 | 139,760 |
| 2.75%, 10/01/29 (a)(d) | 125,000 | 112,719 |
| 4.63%, 03/22/30 (a)(d) | 150,000 | 152,054 |
| 1.65%, 03/11/31 (a)(d) | 200,000 | 160,872 |
| 2.30%, 05/13/31 (a)(d) | 200,000 | 169,406 |
| 1.95%, 12/01/31 (a)(d) | 250,000 | 202,910 |
| 2.90%, 03/03/32 (a)(d) | 300,000 | 264,312 |
| 25,258,721 | ||
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Finance Companies 0.3% | ||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||
| 4.13%, 07/03/23 (a) | 150,000 | 148,881 |
| 4.50%, 09/15/23 (a) | 500,000 | 498,885 |
| 1.15%, 10/29/23 | 500,000 | 477,520 |
| 4.88%, 01/16/24 (a) | 250,000 | 249,675 |
| 3.15%, 02/15/24 (a) | 200,000 | 194,490 |
| 2.88%, 08/14/24 (a) | 300,000 | 287,739 |
| 1.65%, 10/29/24 (a) | 1,000,000 | 926,170 |
| 1.75%, 10/29/24 (a) | 350,000 | 324,863 |
| 3.50%, 01/15/25 (a) | 300,000 | 287,994 |
| 6.50%, 07/15/25 (a) | 350,000 | 358,379 |
| 4.45%, 10/01/25 (a) | 150,000 | 145,526 |
| 1.75%, 01/30/26 (a) | 300,000 | 261,945 |
| 4.45%, 04/03/26 (a) | 250,000 | 239,830 |
| 2.45%, 10/29/26 (a) | 750,000 | 653,527 |
| 3.65%, 07/21/27 (a) | 450,000 | 407,889 |
| 4.63%, 10/15/27 (a) | 150,000 | 141,482 |
| 3.88%, 01/23/28 (a) | 200,000 | 180,766 |
| 3.00%, 10/29/28 (a) | 1,150,000 | 968,127 |
| 3.30%, 01/30/32 (a) | 1,175,000 | 937,192 |
| 3.40%, 10/29/33 (a) | 500,000 | 394,690 |
| 3.85%, 10/29/41 (a) | 500,000 | 360,065 |
| Air Lease Corp. | ||
| 3.88%, 07/03/23 (a) | 175,000 | 174,668 |
| 3.00%, 09/15/23 (a) | 300,000 | 295,884 |
| 0.70%, 02/15/24 (a) | 250,000 | 236,165 |
| 4.25%, 09/15/24 (a) | 400,000 | 393,112 |
| 2.30%, 02/01/25 (a) | 250,000 | 234,440 |
| 3.25%, 03/01/25 (a) | 200,000 | 191,338 |
| 3.38%, 07/01/25 (a) | 100,000 | 94,314 |
| 2.88%, 01/15/26 (a) | 200,000 | 183,738 |
| 3.75%, 06/01/26 (a) | 250,000 | 235,432 |
| 1.88%, 08/15/26 (a) | 200,000 | 173,168 |
| 3.63%, 04/01/27 (a) | 400,000 | 370,644 |
| 3.63%, 12/01/27 (a) | 449,000 | 400,719 |
| 2.10%, 09/01/28 (a) | 200,000 | 162,596 |
| 4.63%, 10/01/28 (a) | 200,000 | 185,130 |
| 3.25%, 10/01/29 (a) | 250,000 | 209,147 |
| 3.00%, 02/01/30 (a) | 350,000 | 284,938 |
| 3.13%, 12/01/30 (a) | 100,000 | 81,691 |
| 2.88%, 01/15/32 (a) | 250,000 | 195,130 |
| Aircastle Ltd. | ||
| 4.40%, 09/25/23 (a) | 200,000 | 198,072 |
| 4.13%, 05/01/24 (a) | 200,000 | 194,916 |
| 4.25%, 06/15/26 (a) | 200,000 | 184,656 |
| Ares Capital Corp. | ||
| 4.20%, 06/10/24 (a) | 300,000 | 294,999 |
| 4.25%, 03/01/25 (a) | 100,000 | 95,637 |
| 3.25%, 07/15/25 (a) | 350,000 | 323,949 |
| 3.88%, 01/15/26 (a) | 500,000 | 461,370 |
| 2.15%, 07/15/26 (a) | 300,000 | 252,549 |
| 2.88%, 06/15/27 (a) | 250,000 | 209,257 |
| 2.88%, 06/15/28 (a) | 250,000 | 199,517 |
| 3.20%, 11/15/31 (a) | 250,000 | 182,453 |
| Bain Capital Specialty Finance, Inc. | ||
| 2.95%, 03/10/26 (a) | 250,000 | 223,960 |
| Blackstone Private Credit Fund | ||
| 2.35%, 11/22/24 (c) | 150,000 | 137,738 |
| 2.70%, 01/15/25 (a)(c) | 200,000 | 182,600 |
| 4.70%, 03/24/25 (c) | 200,000 | 192,788 |
| 2.63%, 12/15/26 (a)(c) | 300,000 | 250,725 |
| 3.25%, 03/15/27 (a)(c) | 350,000 | 297,279 |
| 4.00%, 01/15/29 (a)(c) | 300,000 | 246,333 |
47
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Blackstone Secured Lending Fund | ||
| 3.63%, 01/15/26 (a) | 275,000 | 252,505 |
| 2.75%, 09/16/26 (a) | 200,000 | 175,204 |
| 2.13%, 02/15/27 (a) | 250,000 | 209,313 |
| 2.85%, 09/30/28 (a) | 250,000 | 201,854 |
| FS KKR Capital Corp. | ||
| 4.63%, 07/15/24 (a) | 200,000 | 196,632 |
| 4.13%, 02/01/25 (a) | 400,000 | 380,328 |
| 3.40%, 01/15/26 (a) | 350,000 | 311,157 |
| 3.13%, 10/12/28 (a) | 250,000 | 199,592 |
| GATX Corp. | ||
| 4.35%, 02/15/24 (a) | 100,000 | 100,797 |
| 3.85%, 03/30/27 (a) | 200,000 | 194,246 |
| 3.50%, 03/15/28 (a) | 100,000 | 93,780 |
| 4.55%, 11/07/28 (a) | 350,000 | 343,504 |
| 4.70%, 04/01/29 (a) | 255,000 | 249,250 |
| 5.20%, 03/15/44 (a) | 150,000 | 143,937 |
| 3.10%, 06/01/51 (a) | 150,000 | 101,052 |
| Goldman Sachs BDC, Inc. | ||
| 3.75%, 02/10/25 (a) | 150,000 | 145,425 |
| 2.88%, 01/15/26 (a) | 150,000 | 135,695 |
| Golub Capital BDC, Inc. | ||
| 3.38%, 04/15/24 (a) | 150,000 | 144,980 |
| 2.50%, 08/24/26 (a) | 200,000 | 167,608 |
| 2.05%, 02/15/27 (a) | 150,000 | 122,064 |
| Hercules Capital, Inc. | ||
| 3.38%, 01/20/27 (a) | 200,000 | 174,518 |
| Main Street Capital Corp. | ||
| 5.20%, 05/01/24 | 200,000 | 199,392 |
| 3.00%, 07/14/26 (a) | 150,000 | 131,213 |
| Morgan Stanley Direct Lending Fund | ||
| 4.50%, 02/11/27 (a)(c) | 150,000 | 136,565 |
| Oaktree Specialty Lending Corp. | ||
| 3.50%, 02/25/25 (a) | 100,000 | 95,011 |
| 2.70%, 01/15/27 (a) | 100,000 | 86,610 |
| Owl Rock Capital Corp. | ||
| 5.25%, 04/15/24 (a) | 150,000 | 150,005 |
| 4.00%, 03/30/25 (a) | 250,000 | 236,422 |
| 4.25%, 01/15/26 (a) | 250,000 | 230,262 |
| 3.40%, 07/15/26 (a) | 450,000 | 397,066 |
| 2.63%, 01/15/27 (a) | 150,000 | 125,232 |
| Owl Rock Core Income Corp. | ||
| 3.13%, 09/23/26 (a)(c) | 100,000 | 86,366 |
| 4.70%, 02/08/27 (a)(c) | 200,000 | 183,294 |
| Owl Rock Technology Finance Corp. | ||
| 2.50%, 01/15/27 (a) | 100,000 | 85,242 |
| Prospect Capital Corp. | ||
| 3.71%, 01/22/26 (a) | 150,000 | 133,766 |
| 3.36%, 11/15/26 (a) | 100,000 | 84,908 |
| 3.44%, 10/15/28 (a) | 100,000 | 76,746 |
| Sixth Street Specialty Lending, Inc. | ||
| 2.50%, 08/01/26 (a) | 100,000 | 87,635 |
| 23,245,863 | ||
| Financial Other 0.0% | ||
| Andrew W Mellon Foundation | ||
| 0.95%, 08/01/27 (a) | 125,000 | 109,645 |
| ORIX Corp. | ||
| 4.05%, 01/16/24 | 150,000 | 150,597 |
| 3.25%, 12/04/24 | 250,000 | 245,983 |
| 3.70%, 07/18/27 | 143,000 | 139,252 |
| 2.25%, 03/09/31 (e) | 190,000 | 159,803 |
| 805,280 | ||
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Insurance 1.0% | ||
| ACE Capital Trust II | ||
| 9.70%, 04/01/30 | 200,000 | 256,468 |
| Ace INA Holdings, Inc. | ||
| 3.15%, 03/15/25 | 400,000 | 392,932 |
| 3.35%, 05/03/26 (a) | 500,000 | 489,050 |
| Aegon N.V. | ||
| 5.50%, 04/11/48 (a)(b) | 250,000 | 240,775 |
| Aetna, Inc. | ||
| 3.50%, 11/15/24 (a) | 300,000 | 296,829 |
| 6.63%, 06/15/36 | 300,000 | 339,723 |
| 6.75%, 12/15/37 | 150,000 | 171,038 |
| 4.50%, 05/15/42 (a) | 200,000 | 180,988 |
| 4.13%, 11/15/42 (a) | 150,000 | 128,676 |
| 4.75%, 03/15/44 (a) | 200,000 | 184,546 |
| 3.88%, 08/15/47 (a) | 150,000 | 124,193 |
| Aflac, Inc. | ||
| 3.63%, 11/15/24 | 150,000 | 150,476 |
| 3.25%, 03/17/25 | 200,000 | 197,590 |
| 1.13%, 03/15/26 (a) | 200,000 | 180,904 |
| 3.60%, 04/01/30 (a) | 350,000 | 331,562 |
| 4.00%, 10/15/46 (a) | 150,000 | 129,839 |
| 4.75%, 01/15/49 (a) | 150,000 | 145,214 |
| Alleghany Corp. | ||
| 3.63%, 05/15/30 (a) | 200,000 | 187,644 |
| 3.25%, 08/15/51 (a) | 200,000 | 148,550 |
| Allied World Assurance Co., Holdings Ltd. | ||
| 4.35%, 10/29/25 (a) | 200,000 | 196,564 |
| Allstate Corp. | ||
| 0.75%, 12/15/25 (a) | 250,000 | 225,187 |
| 3.28%, 12/15/26 (a) | 250,000 | 246,932 |
| 1.45%, 12/15/30 (a) | 150,000 | 119,319 |
| 5.35%, 06/01/33 | 79,000 | 83,709 |
| 5.55%, 05/09/35 | 200,000 | 217,480 |
| 4.50%, 06/15/43 | 250,000 | 235,385 |
| 4.20%, 12/15/46 (a) | 276,000 | 252,223 |
| 3.85%, 08/10/49 (a) | 150,000 | 129,026 |
| 6.50%, 05/15/67 (a)(b) | 100,000 | 102,498 |
| American Equity Investment Life Holding Co. | ||
| 5.00%, 06/15/27 (a) | 100,000 | 98,579 |
| American Financial Group, Inc. | ||
| 5.25%, 04/02/30 (a) | 100,000 | 100,370 |
| 4.50%, 06/15/47 (a) | 200,000 | 169,100 |
| American International Group, Inc. | ||
| 4.13%, 02/15/24 | 200,000 | 201,522 |
| 2.50%, 06/30/25 (a) | 500,000 | 477,200 |
| 3.90%, 04/01/26 (a) | 500,000 | 489,560 |
| 3.40%, 06/30/30 (a) | 200,000 | 183,606 |
| 3.88%, 01/15/35 (a) | 200,000 | 181,488 |
| 6.25%, 05/01/36 | 150,000 | 169,332 |
| 4.50%, 07/16/44 (a) | 300,000 | 269,862 |
| 4.80%, 07/10/45 (a) | 275,000 | 256,435 |
| 4.75%, 04/01/48 (a) | 250,000 | 235,002 |
| 5.75%, 04/01/48 (a)(b) | 210,000 | 189,433 |
| 4.38%, 06/30/50 (a) | 300,000 | 266,529 |
| Anthem, Inc. | ||
| 3.50%, 08/15/24 (a) | 350,000 | 348,750 |
| 3.35%, 12/01/24 (a) | 350,000 | 345,768 |
| 2.38%, 01/15/25 (a) | 300,000 | 289,407 |
| 1.50%, 03/15/26 (a) | 500,000 | 457,710 |
| 3.65%, 12/01/27 (a) | 500,000 | 486,995 |
| 4.10%, 03/01/28 (a) | 250,000 | 247,527 |
| 2.88%, 09/15/29 (a) | 210,000 | 189,420 |
| 2.25%, 05/15/30 (a) | 450,000 | 384,988 |
| 2.55%, 03/15/31 (a) | 100,000 | 86,483 |
48
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.95%, 12/15/34 | 100,000 | 111,003 |
| 5.85%, 01/15/36 | 100,000 | 109,382 |
| 6.38%, 06/15/37 | 50,000 | 58,287 |
| 4.63%, 05/15/42 | 200,000 | 190,194 |
| 4.65%, 01/15/43 | 475,000 | 453,231 |
| 5.10%, 01/15/44 | 200,000 | 200,598 |
| 4.65%, 08/15/44 (a) | 400,000 | 379,908 |
| 4.38%, 12/01/47 (a) | 250,000 | 231,650 |
| 4.55%, 03/01/48 (a) | 400,000 | 380,036 |
| 3.70%, 09/15/49 (a) | 250,000 | 207,792 |
| 3.13%, 05/15/50 (a) | 500,000 | 378,735 |
| 3.60%, 03/15/51 (a) | 150,000 | 121,995 |
| 4.55%, 05/15/52 (a) | 200,000 | 190,580 |
| Aon Corp. | ||
| 8.21%, 01/01/27 | 100,000 | 107,001 |
| 4.50%, 12/15/28 (a) | 100,000 | 98,628 |
| 3.75%, 05/02/29 (a) | 100,000 | 94,571 |
| 2.80%, 05/15/30 (a) | 250,000 | 218,947 |
| 2.05%, 08/23/31 (a) | 200,000 | 161,886 |
| 6.25%, 09/30/40 | 150,000 | 166,947 |
| 2.90%, 08/23/51 (a) | 200,000 | 140,246 |
| 3.90%, 02/28/52 (a) | 250,000 | 206,100 |
| Aon PLC | ||
| 4.00%, 11/27/23 (a) | 200,000 | 201,120 |
| 3.50%, 06/14/24 (a) | 400,000 | 397,840 |
| 3.88%, 12/15/25 (a) | 300,000 | 297,003 |
| 4.60%, 06/14/44 (a) | 200,000 | 180,772 |
| 4.75%, 05/15/45 (a) | 200,000 | 186,454 |
| Arch Capital Finance LLC | ||
| 4.01%, 12/15/26 (a) | 200,000 | 197,110 |
| 5.03%, 12/15/46 (a) | 200,000 | 189,454 |
| Arch Capital Group Ltd. | ||
| 3.64%, 06/30/50 (a) | 250,000 | 195,840 |
| Arch Capital Group US, Inc. | ||
| 5.14%, 11/01/43 | 250,000 | 244,040 |
| Arthur J Gallagher & Co. | ||
| 3.50%, 05/20/51 (a) | 300,000 | 229,608 |
| 3.05%, 03/09/52 (a) | 150,000 | 104,139 |
| Assurant, Inc. | ||
| 4.20%, 09/27/23 (a) | 75,000 | 75,579 |
| 4.90%, 03/27/28 (a) | 150,000 | 149,109 |
| 3.70%, 02/22/30 (a) | 100,000 | 89,096 |
| 2.65%, 01/15/32 (a) | 100,000 | 78,419 |
| Assured Guaranty US Holdings, Inc. | ||
| 5.00%, 07/01/24 | 132,000 | 134,756 |
| 3.15%, 06/15/31 (a) | 250,000 | 217,327 |
| 3.60%, 09/15/51 (a) | 50,000 | 37,757 |
| Athene Holding Ltd. | ||
| 4.13%, 01/12/28 (a) | 400,000 | 374,004 |
| 6.15%, 04/03/30 (a) | 200,000 | 199,876 |
| 3.50%, 01/15/31 (a) | 150,000 | 127,094 |
| 3.95%, 05/25/51 (a) | 150,000 | 111,354 |
| AXA S.A. | ||
| 8.60%, 12/15/30 | 400,000 | 475,360 |
| AXIS Specialty Finance LLC | ||
| 3.90%, 07/15/29 (a) | 100,000 | 93,916 |
| 4.90%, 01/15/40 (a)(b) | 50,000 | 42,929 |
| AXIS Specialty Finance PLC | ||
| 4.00%, 12/06/27 (a) | 150,000 | 145,616 |
| Berkshire Hathaway Finance Corp. | ||
| 2.30%, 03/15/27 (a)(e) | 250,000 | 236,397 |
| 1.85%, 03/12/30 (a) | 150,000 | 128,448 |
| 1.45%, 10/15/30 (a) | 200,000 | 162,596 |
| 2.88%, 03/15/32 (a) | 200,000 | 179,622 |
| 5.75%, 01/15/40 | 150,000 | 166,574 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.40%, 05/15/42 | 250,000 | 237,460 |
| 4.30%, 05/15/43 | 250,000 | 234,782 |
| 4.20%, 08/15/48 (a) | 750,000 | 689,032 |
| 4.25%, 01/15/49 (a) | 700,000 | 648,844 |
| 2.85%, 10/15/50 (a) | 575,000 | 415,052 |
| 2.50%, 01/15/51 (a) | 300,000 | 203,778 |
| 3.85%, 03/15/52 (a) | 875,000 | 751,389 |
| Berkshire Hathaway, Inc. | ||
| 3.13%, 03/15/26 (a) | 895,000 | 879,194 |
| 4.50%, 02/11/43 | 50,000 | 47,862 |
| Brighthouse Financial, Inc. | ||
| 3.70%, 06/22/27 (a) | 300,000 | 281,283 |
| 5.63%, 05/15/30 (a) | 100,000 | 97,241 |
| 4.70%, 06/22/47 (a) | 385,000 | 307,399 |
| 3.85%, 12/22/51 (a) | 100,000 | 68,313 |
| Brown & Brown, Inc. | ||
| 4.20%, 09/15/24 (a) | 195,000 | 195,053 |
| 4.50%, 03/15/29 (a) | 50,000 | 49,181 |
| 2.38%, 03/15/31 (a) | 250,000 | 198,453 |
| 4.20%, 03/17/32 (a) | 175,000 | 159,780 |
| 4.95%, 03/17/52 (a) | 200,000 | 175,874 |
| Chubb Corp. | ||
| 6.00%, 05/11/37 | 350,000 | 405,387 |
| 6.50%, 05/15/38 | 260,000 | 306,181 |
| Chubb INA Holdings, Inc. | ||
| 1.38%, 09/15/30 (a) | 350,000 | 280,045 |
| 4.35%, 11/03/45 (a) | 500,000 | 473,475 |
| 3.05%, 12/15/61 (a) | 300,000 | 216,090 |
| Cincinnati Financial Corp. | ||
| 6.92%, 05/15/28 | 200,000 | 226,932 |
| 6.13%, 11/01/34 | 50,000 | 56,886 |
| CNA Financial Corp. | ||
| 3.95%, 05/15/24 (a) | 100,000 | 99,995 |
| 4.50%, 03/01/26 (a) | 250,000 | 250,930 |
| 3.45%, 08/15/27 (a) | 150,000 | 142,452 |
| 3.90%, 05/01/29 (a) | 25,000 | 23,532 |
| 2.05%, 08/15/30 (a) | 250,000 | 201,768 |
| CNO Financial Group, Inc. | ||
| 5.25%, 05/30/25 (a) | 50,000 | 50,777 |
| 5.25%, 05/30/29 (a) | 320,000 | 310,710 |
| Corebridge Financial, Inc. | ||
| 3.50%, 04/04/25 (a)(c) | 250,000 | 243,500 |
| 3.65%, 04/05/27 (a)(c) | 400,000 | 377,092 |
| 3.85%, 04/05/29 (a)(c) | 400,000 | 369,788 |
| 3.90%, 04/05/32 (a)(c) | 450,000 | 404,131 |
| 4.35%, 04/05/42 (a)(c) | 150,000 | 128,195 |
| 4.40%, 04/05/52 (a)(c) | 350,000 | 292,936 |
| Enstar Group Ltd. | ||
| 4.95%, 06/01/29 (a) | 250,000 | 240,220 |
| Equitable Holdings, Inc. | ||
| 4.35%, 04/20/28 (a) | 550,000 | 531,943 |
| 5.00%, 04/20/48 (a) | 450,000 | 417,690 |
| Everest Reinsurance Holdings, Inc. | ||
| 4.87%, 06/01/44 | 115,000 | 107,587 |
| 3.50%, 10/15/50 (a) | 350,000 | 269,230 |
| 3.13%, 10/15/52 (a) | 300,000 | 210,546 |
| Fairfax Financial Holdings Ltd. | ||
| 4.85%, 04/17/28 (a) | 250,000 | 248,752 |
| 4.63%, 04/29/30 (a) | 300,000 | 288,468 |
| Fidelity National Financial, Inc. | ||
| 4.50%, 08/15/28 (a) | 150,000 | 144,909 |
| 3.40%, 06/15/30 (a) | 200,000 | 175,798 |
| 2.45%, 03/15/31 (a) | 300,000 | 237,537 |
49
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| First American Financial Corp. | ||
| 4.60%, 11/15/24 | 150,000 | 149,673 |
| 4.00%, 05/15/30 (a) | 100,000 | 89,923 |
| 2.40%, 08/15/31 (a) | 200,000 | 153,804 |
| Globe Life, Inc. | ||
| 4.55%, 09/15/28 (a) | 170,000 | 167,877 |
| 2.15%, 08/15/30 (a) | 200,000 | 163,840 |
| Hanover Insurance Group, Inc. | ||
| 4.50%, 04/15/26 (a) | 150,000 | 149,504 |
| 2.50%, 09/01/30 (a) | 100,000 | 83,751 |
| Hartford Financial Services Group, Inc. | ||
| 2.80%, 08/19/29 (a) | 145,000 | 129,428 |
| 5.95%, 10/15/36 | 100,000 | 109,132 |
| 6.10%, 10/01/41 | 150,000 | 163,985 |
| 4.40%, 03/15/48 (a) | 225,000 | 204,415 |
| 3.60%, 08/19/49 (a) | 400,000 | 318,968 |
| Humana, Inc. | ||
| 0.65%, 08/03/23 (a) | 150,000 | 145,394 |
| 3.85%, 10/01/24 (a) | 600,000 | 602,034 |
| 4.50%, 04/01/25 (a) | 200,000 | 202,454 |
| 1.35%, 02/03/27 (a) | 250,000 | 218,992 |
| 3.95%, 03/15/27 (a) | 150,000 | 147,572 |
| 3.13%, 08/15/29 (a) | 200,000 | 181,018 |
| 4.88%, 04/01/30 (a) | 200,000 | 202,258 |
| 2.15%, 02/03/32 (a) | 250,000 | 202,705 |
| 4.63%, 12/01/42 (a) | 100,000 | 93,217 |
| 4.95%, 10/01/44 (a) | 250,000 | 243,797 |
| 4.80%, 03/15/47 (a) | 150,000 | 144,906 |
| 3.95%, 08/15/49 (a) | 150,000 | 127,971 |
| Jackson Financial, Inc. | ||
| 3.13%, 11/23/31 (a)(c) | 150,000 | 120,440 |
| 5.67%, 06/08/32 (a) | 100,000 | 96,800 |
| 4.00%, 11/23/51 (a)(c) | 150,000 | 106,296 |
| Kemper Corp. | ||
| 4.35%, 02/15/25 (a) | 100,000 | 99,658 |
| 2.40%, 09/30/30 (a) | 350,000 | 285,813 |
| Lincoln National Corp. | ||
| 3.35%, 03/09/25 | 168,000 | 165,257 |
| 3.63%, 12/12/26 (a) | 104,000 | 101,011 |
| 3.80%, 03/01/28 (a) | 200,000 | 191,858 |
| 3.05%, 01/15/30 (a) | 200,000 | 175,548 |
| 3.40%, 01/15/31 (a) | 200,000 | 178,644 |
| 6.30%, 10/09/37 | 150,000 | 164,214 |
| 7.00%, 06/15/40 | 150,000 | 171,615 |
| 4.35%, 03/01/48 (a) | 175,000 | 150,224 |
| 4.38%, 06/15/50 (a) | 50,000 | 43,411 |
| Loews Corp. | ||
| 3.75%, 04/01/26 (a) | 200,000 | 198,410 |
| 3.20%, 05/15/30 (a) | 150,000 | 136,686 |
| 6.00%, 02/01/35 | 100,000 | 108,554 |
| 4.13%, 05/15/43 (a) | 100,000 | 85,846 |
| Manulife Financial Corp. | ||
| 4.15%, 03/04/26 | 350,000 | 347,378 |
| 2.48%, 05/19/27 (a) | 100,000 | 91,475 |
| 4.06%, 02/24/32 (a)(b) | 250,000 | 231,517 |
| 3.70%, 03/16/32 (a) | 250,000 | 230,802 |
| 5.38%, 03/04/46 | 250,000 | 270,727 |
| Markel Corp. | ||
| 3.50%, 11/01/27 (a) | 100,000 | 96,066 |
| 3.35%, 09/17/29 (a) | 100,000 | 91,756 |
| 5.00%, 04/05/46 | 175,000 | 166,628 |
| 4.30%, 11/01/47 (a) | 50,000 | 43,363 |
| 5.00%, 05/20/49 (a) | 200,000 | 190,470 |
| 4.15%, 09/17/50 (a) | 200,000 | 166,388 |
| 3.45%, 05/07/52 (a) | 150,000 | 112,394 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Marsh & McLennan Cos., Inc. | ||
| 3.88%, 03/15/24 (a) | 350,000 | 350,833 |
| 3.50%, 06/03/24 (a) | 300,000 | 299,343 |
| 3.75%, 03/14/26 (a) | 250,000 | 247,985 |
| 4.38%, 03/15/29 (a) | 450,000 | 445,495 |
| 2.25%, 11/15/30 (a) | 325,000 | 275,041 |
| 4.75%, 03/15/39 (a) | 250,000 | 245,292 |
| 4.35%, 01/30/47 (a) | 200,000 | 180,570 |
| 4.20%, 03/01/48 (a) | 100,000 | 88,841 |
| 4.90%, 03/15/49 (a) | 500,000 | 497,080 |
| Mercury General Corp. | ||
| 4.40%, 03/15/27 (a) | 200,000 | 196,244 |
| MetLife, Inc. | ||
| 4.37%, 09/15/23 | 100,000 | 101,230 |
| 3.60%, 04/10/24 | 565,000 | 566,797 |
| 3.00%, 03/01/25 | 100,000 | 98,393 |
| 3.60%, 11/13/25 (a) | 250,000 | 248,465 |
| 4.55%, 03/23/30 (a) | 400,000 | 403,916 |
| 5.70%, 06/15/35 | 400,000 | 440,132 |
| 5.88%, 02/06/41 | 500,000 | 543,750 |
| 4.13%, 08/13/42 | 250,000 | 225,565 |
| 4.88%, 11/13/43 | 100,000 | 99,031 |
| 4.72%, 12/15/44 | 250,000 | 241,425 |
| 4.05%, 03/01/45 | 150,000 | 132,506 |
| 4.60%, 05/13/46 (a) | 300,000 | 292,554 |
| 6.40%, 12/15/66 (a) | 500,000 | 504,785 |
| 10.75%, 08/01/69 (a)(b) | 100,000 | 132,178 |
| Nationwide Financial Services, Inc. | ||
| 6.75%, 05/15/87 (b) | 65,000 | 66,016 |
| Old Republic International Corp. | ||
| 3.88%, 08/26/26 (a) | 250,000 | 243,075 |
| 3.85%, 06/11/51 (a) | 150,000 | 113,858 |
| PartnerRe Finance B LLC | ||
| 3.70%, 07/02/29 (a) | 160,000 | 152,581 |
| 4.50%, 10/01/50 (a)(b) | 100,000 | 83,969 |
| Principal Financial Group, Inc. | ||
| 3.10%, 11/15/26 (a) | 150,000 | 142,823 |
| 3.70%, 05/15/29 (a) | 150,000 | 141,150 |
| 2.13%, 06/15/30 (a) | 250,000 | 206,723 |
| 4.63%, 09/15/42 | 150,000 | 139,136 |
| 4.35%, 05/15/43 | 200,000 | 179,620 |
| 4.30%, 11/15/46 (a) | 100,000 | 93,189 |
| Prudential Financial, Inc. | ||
| 1.50%, 03/10/26 (a) | 100,000 | 91,917 |
| 3.88%, 03/27/28 (a) | 192,000 | 188,678 |
| 2.10%, 03/10/30 (a) | 250,000 | 213,132 |
| 5.75%, 07/15/33 | 100,000 | 109,872 |
| 5.70%, 12/14/36 | 90,000 | 98,488 |
| 6.63%, 12/01/37 | 250,000 | 294,562 |
| 3.00%, 03/10/40 (a) | 200,000 | 162,412 |
| 5.20%, 03/15/44 (a)(b) | 150,000 | 142,866 |
| 4.60%, 05/15/44 | 300,000 | 285,957 |
| 5.38%, 05/15/45 (a)(b) | 300,000 | 287,925 |
| 3.91%, 12/07/47 (a) | 350,000 | 305,259 |
| 4.42%, 03/27/48 (a) | 150,000 | 139,598 |
| 5.70%, 09/15/48 (a)(b) | 250,000 | 244,317 |
| 3.94%, 12/07/49 (a) | 400,000 | 345,664 |
| 4.35%, 02/25/50 (a) | 250,000 | 232,500 |
| 3.70%, 10/01/50 (a)(b) | 250,000 | 207,623 |
| 3.70%, 03/13/51 (a) | 300,000 | 250,956 |
| 5.13%, 03/01/52 (a)(b) | 250,000 | 231,132 |
| Prudential PLC | ||
| 3.13%, 04/14/30 | 325,000 | 299,253 |
| 3.63%, 03/24/32 (a) | 100,000 | 92,733 |
50
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Reinsurance Group of America, Inc. | ||
| 4.70%, 09/15/23 | 265,000 | 267,584 |
| 3.90%, 05/15/29 (a) | 200,000 | 187,726 |
| 3.15%, 06/15/30 (a) | 150,000 | 132,879 |
| RenaissanceRe Finance, Inc. | ||
| 3.45%, 07/01/27 (a) | 150,000 | 143,366 |
| RenaissanceRe Holdings Ltd. | ||
| 3.60%, 04/15/29 (a) | 200,000 | 188,066 |
| Selective Insurance Group, Inc. | ||
| 5.38%, 03/01/49 (a) | 100,000 | 95,628 |
| Stewart Information Services Corp. | ||
| 3.60%, 11/15/31 (a) | 100,000 | 83,104 |
| Swiss Re America Holding Corp. | ||
| 7.00%, 02/15/26 | 125,000 | 137,743 |
| The Progressive Corp. | ||
| 4.00%, 03/01/29 (a) | 360,000 | 357,304 |
| 3.20%, 03/26/30 (a) | 150,000 | 139,617 |
| 3.00%, 03/15/32 (a) | 150,000 | 135,441 |
| 6.25%, 12/01/32 | 110,000 | 126,971 |
| 4.35%, 04/25/44 | 150,000 | 139,986 |
| 3.70%, 01/26/45 | 150,000 | 127,152 |
| 4.13%, 04/15/47 (a) | 350,000 | 321,548 |
| 4.20%, 03/15/48 (a) | 125,000 | 115,649 |
| 3.95%, 03/26/50 (a) | 200,000 | 177,984 |
| Transatlantic Holdings, Inc. | ||
| 8.00%, 11/30/39 | 121,000 | 157,344 |
| Travelers Cos., Inc. | ||
| 6.75%, 06/20/36 | 50,000 | 60,562 |
| 6.25%, 06/15/37 | 300,000 | 352,668 |
| 5.35%, 11/01/40 | 100,000 | 106,297 |
| 4.60%, 08/01/43 | 200,000 | 191,022 |
| 4.30%, 08/25/45 (a) | 200,000 | 185,268 |
| 3.75%, 05/15/46 (a) | 200,000 | 173,342 |
| 4.00%, 05/30/47 (a) | 150,000 | 133,916 |
| 4.10%, 03/04/49 (a) | 250,000 | 227,110 |
| 2.55%, 04/27/50 (a) | 200,000 | 139,282 |
| 3.05%, 06/08/51 (a) | 250,000 | 191,093 |
| Travelers Property Casualty Corp. | ||
| 6.38%, 03/15/33 | 200,000 | 235,692 |
| Trinity Acquisition PLC | ||
| 4.40%, 03/15/26 (a) | 110,000 | 108,859 |
| UnitedHealth Group, Inc. | ||
| 3.50%, 02/15/24 | 250,000 | 251,137 |
| 0.55%, 05/15/24 (a) | 200,000 | 190,740 |
| 2.38%, 08/15/24 | 200,000 | 196,216 |
| 3.75%, 07/15/25 | 750,000 | 750,990 |
| 3.70%, 12/15/25 | 150,000 | 149,886 |
| 1.25%, 01/15/26 | 100,000 | 92,358 |
| 3.10%, 03/15/26 | 350,000 | 342,961 |
| 3.45%, 01/15/27 | 250,000 | 246,732 |
| 2.95%, 10/15/27 | 100,000 | 95,919 |
| 3.85%, 06/15/28 | 450,000 | 448,146 |
| 3.88%, 12/15/28 | 350,000 | 348,372 |
| 4.00%, 05/15/29 (a) | 250,000 | 248,257 |
| 2.88%, 08/15/29 | 400,000 | 370,052 |
| 2.00%, 05/15/30 | 500,000 | 428,820 |
| 2.30%, 05/15/31 (a) | 400,000 | 346,748 |
| 4.20%, 05/15/32 (a) | 475,000 | 475,389 |
| 4.63%, 07/15/35 | 400,000 | 407,184 |
| 5.80%, 03/15/36 | 200,000 | 224,566 |
| 6.63%, 11/15/37 | 250,000 | 303,577 |
| 6.88%, 02/15/38 | 300,000 | 372,912 |
| 3.50%, 08/15/39 (a) | 400,000 | 349,640 |
| 2.75%, 05/15/40 (a) | 400,000 | 312,216 |
| 5.70%, 10/15/40 (a) | 100,000 | 110,899 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.95%, 02/15/41 (a) | 150,000 | 170,099 |
| 3.05%, 05/15/41 (a) | 500,000 | 404,710 |
| 4.63%, 11/15/41 (a) | 173,000 | 172,194 |
| 4.38%, 03/15/42 (a) | 150,000 | 144,095 |
| 3.95%, 10/15/42 (a) | 250,000 | 226,127 |
| 4.75%, 07/15/45 | 600,000 | 605,418 |
| 4.20%, 01/15/47 (a) | 200,000 | 187,300 |
| 4.25%, 04/15/47 (a) | 250,000 | 235,477 |
| 3.75%, 10/15/47 (a) | 200,000 | 174,016 |
| 4.25%, 06/15/48 (a) | 400,000 | 375,020 |
| 4.45%, 12/15/48 (a) | 350,000 | 336,833 |
| 3.70%, 08/15/49 (a) | 400,000 | 342,328 |
| 2.90%, 05/15/50 (a) | 400,000 | 298,264 |
| 3.25%, 05/15/51 (a) | 600,000 | 472,398 |
| 4.75%, 05/15/52 (a) | 600,000 | 601,104 |
| 3.88%, 08/15/59 (a) | 400,000 | 345,760 |
| 3.13%, 05/15/60 (a) | 350,000 | 257,988 |
| 4.95%, 05/15/62 (a) | 325,000 | 329,839 |
| Unum Group | ||
| 4.00%, 03/15/24 | 100,000 | 99,879 |
| 4.00%, 06/15/29 (a) | 150,000 | 141,908 |
| 5.75%, 08/15/42 | 150,000 | 140,994 |
| 4.50%, 12/15/49 (a) | 150,000 | 116,765 |
| 4.13%, 06/15/51 (a) | 200,000 | 148,026 |
| Voya Financial, Inc. | ||
| 3.65%, 06/15/26 | 150,000 | 145,889 |
| 5.70%, 07/15/43 | 150,000 | 153,935 |
| 4.80%, 06/15/46 | 75,000 | 69,636 |
| 4.70%, 01/23/48 (a)(b) | 100,000 | 81,849 |
| Willis North America, Inc. | ||
| 3.60%, 05/15/24 (a) | 250,000 | 247,050 |
| 4.50%, 09/15/28 (a) | 200,000 | 192,752 |
| 2.95%, 09/15/29 (a) | 200,000 | 171,538 |
| 5.05%, 09/15/48 (a) | 150,000 | 139,554 |
| 3.88%, 09/15/49 (a) | 200,000 | 156,668 |
| WR Berkley Corp. | ||
| 4.75%, 08/01/44 | 150,000 | 141,297 |
| 4.00%, 05/12/50 (a) | 100,000 | 83,354 |
| 3.55%, 03/30/52 (a) | 150,000 | 116,073 |
| 3.15%, 09/30/61 (a) | 100,000 | 66,744 |
| XLIT Ltd. | ||
| 5.25%, 12/15/43 | 100,000 | 106,048 |
| 5.50%, 03/31/45 | 125,000 | 130,384 |
| 77,634,299 | ||
| REITs 0.7% | ||
| Agree LP | ||
| 2.00%, 06/15/28 (a) | 150,000 | 128,142 |
| 2.90%, 10/01/30 (a) | 250,000 | 212,157 |
| Alexandria Real Estate Equities, Inc. | ||
| 3.45%, 04/30/25 (a) | 25,000 | 24,620 |
| 4.30%, 01/15/26 (a) | 150,000 | 150,723 |
| 3.80%, 04/15/26 (a) | 150,000 | 147,344 |
| 3.95%, 01/15/28 (a) | 150,000 | 145,488 |
| 4.50%, 07/30/29 (a) | 100,000 | 97,619 |
| 2.75%, 12/15/29 (a) | 150,000 | 131,511 |
| 4.70%, 07/01/30 (a) | 250,000 | 246,932 |
| 4.90%, 12/15/30 (a) | 250,000 | 248,360 |
| 3.38%, 08/15/31 (a) | 230,000 | 203,488 |
| 2.00%, 05/18/32 (a) | 200,000 | 158,054 |
| 1.88%, 02/01/33 (a) | 250,000 | 188,370 |
| 2.95%, 03/15/34 (a) | 250,000 | 208,245 |
| 4.85%, 04/15/49 (a) | 100,000 | 93,618 |
| 4.00%, 02/01/50 (a) | 250,000 | 208,640 |
| 3.00%, 05/18/51 (a) | 200,000 | 136,292 |
| 3.55%, 03/15/52 (a) | 250,000 | 189,135 |
51
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| American Assets Trust LP | ||
| 3.38%, 02/01/31 (a) | 150,000 | 128,178 |
| American Campus Communities Operating Partnership LP | ||
| 3.30%, 07/15/26 (a) | 250,000 | 244,455 |
| 2.25%, 01/15/29 (a) | 50,000 | 46,313 |
| 2.85%, 02/01/30 (a) | 200,000 | 189,968 |
| 3.88%, 01/30/31 (a) | 175,000 | 172,720 |
| American Homes 4 Rent LP | ||
| 4.25%, 02/15/28 (a) | 190,000 | 181,613 |
| 4.90%, 02/15/29 (a) | 100,000 | 97,831 |
| 2.38%, 07/15/31 (a) | 200,000 | 160,056 |
| 3.63%, 04/15/32 (a) | 150,000 | 131,378 |
| 3.38%, 07/15/51 (a) | 100,000 | 69,150 |
| 4.30%, 04/15/52 (a) | 100,000 | 80,805 |
| AvalonBay Communities, Inc. | ||
| 4.20%, 12/15/23 (a) | 100,000 | 100,429 |
| 3.50%, 11/15/24 (a) | 200,000 | 197,652 |
| 3.45%, 06/01/25 (a) | 150,000 | 147,711 |
| 2.90%, 10/15/26 (a) | 100,000 | 95,160 |
| 3.35%, 05/15/27 (a) | 150,000 | 143,606 |
| 3.20%, 01/15/28 (a) | 200,000 | 188,848 |
| 3.30%, 06/01/29 (a) | 150,000 | 139,403 |
| 2.30%, 03/01/30 (a) | 250,000 | 215,332 |
| 2.45%, 01/15/31 (a) | 300,000 | 259,188 |
| 2.05%, 01/15/32 (a) | 200,000 | 166,168 |
| 3.90%, 10/15/46 (a) | 150,000 | 130,353 |
| 4.35%, 04/15/48 (a) | 150,000 | 138,842 |
| Boston Properties LP | ||
| 3.13%, 09/01/23 (a) | 350,000 | 347,249 |
| 3.80%, 02/01/24 (a) | 100,000 | 99,679 |
| 3.20%, 01/15/25 (a) | 375,000 | 365,902 |
| 3.65%, 02/01/26 (a) | 200,000 | 194,392 |
| 2.75%, 10/01/26 (a) | 150,000 | 139,908 |
| 4.50%, 12/01/28 (a) | 300,000 | 291,990 |
| 3.40%, 06/21/29 (a) | 350,000 | 313,932 |
| 2.90%, 03/15/30 (a) | 200,000 | 169,830 |
| 3.25%, 01/30/31 (a) | 433,000 | 372,086 |
| 2.55%, 04/01/32 (a) | 150,000 | 119,286 |
| 2.45%, 10/01/33 (a) | 300,000 | 230,163 |
| Brandywine Operating Partnership LP | ||
| 4.10%, 10/01/24 (a) | 150,000 | 148,904 |
| 3.95%, 11/15/27 (a) | 100,000 | 94,093 |
| 4.55%, 10/01/29 (a) | 150,000 | 143,903 |
| Brixmor Operating Partnership LP | ||
| 3.85%, 02/01/25 (a) | 250,000 | 246,317 |
| 4.13%, 06/15/26 (a) | 50,000 | 48,987 |
| 3.90%, 03/15/27 (a) | 150,000 | 144,044 |
| 4.13%, 05/15/29 (a) | 250,000 | 233,007 |
| 4.05%, 07/01/30 (a) | 350,000 | 315,612 |
| 2.50%, 08/16/31 (a) | 225,000 | 177,199 |
| Broadstone Net Lease LLC | ||
| 2.60%, 09/15/31 (a) | 150,000 | 122,523 |
| Camden Property Trust | ||
| 4.10%, 10/15/28 (a) | 150,000 | 147,543 |
| 3.15%, 07/01/29 (a) | 116,000 | 106,177 |
| 2.80%, 05/15/30 (a) | 250,000 | 221,160 |
| 3.35%, 11/01/49 (a) | 175,000 | 136,988 |
| Corporate Office Properties LP | ||
| 2.25%, 03/15/26 (a) | 200,000 | 181,350 |
| 2.00%, 01/15/29 (a) | 150,000 | 121,305 |
| 2.75%, 04/15/31 (a) | 200,000 | 162,440 |
| CubeSmart LP | ||
| 4.00%, 11/15/25 (a) | 250,000 | 247,357 |
| 3.13%, 09/01/26 (a) | 100,000 | 95,391 |
| 4.38%, 02/15/29 (a) | 118,000 | 114,295 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.00%, 02/15/30 (a) | 200,000 | 176,200 |
| 2.00%, 02/15/31 (a) | 250,000 | 199,675 |
| Digital Realty Trust LP | ||
| 3.70%, 08/15/27 (a) | 370,000 | 352,939 |
| 4.45%, 07/15/28 (a) | 200,000 | 194,124 |
| 3.60%, 07/01/29 (a) | 325,000 | 295,158 |
| Duke Realty LP | ||
| 3.25%, 06/30/26 (a) | 50,000 | 48,225 |
| 2.88%, 11/15/29 (a) | 150,000 | 135,257 |
| 1.75%, 07/01/30 (a) | 250,000 | 204,842 |
| 2.25%, 01/15/32 (a) | 150,000 | 124,958 |
| 3.05%, 03/01/50 (a) | 200,000 | 148,832 |
| EPR Properties | ||
| 4.75%, 12/15/26 (a) | 250,000 | 234,480 |
| 4.50%, 06/01/27 (a) | 200,000 | 181,222 |
| 4.95%, 04/15/28 (a) | 250,000 | 229,005 |
| 3.75%, 08/15/29 (a) | 200,000 | 166,624 |
| ERP Operating LP | ||
| 3.38%, 06/01/25 (a) | 200,000 | 195,914 |
| 2.85%, 11/01/26 (a) | 250,000 | 237,235 |
| 3.25%, 08/01/27 (a) | 150,000 | 142,295 |
| 3.50%, 03/01/28 (a) | 200,000 | 190,670 |
| 4.15%, 12/01/28 (a) | 50,000 | 49,075 |
| 3.00%, 07/01/29 (a) | 200,000 | 181,502 |
| 2.50%, 02/15/30 (a) | 200,000 | 175,174 |
| 4.50%, 07/01/44 (a) | 150,000 | 143,190 |
| 4.50%, 06/01/45 (a) | 200,000 | 189,384 |
| Essential Properties LP | ||
| 2.95%, 07/15/31 (a) | 150,000 | 117,734 |
| Essex Portfolio LP | ||
| 3.88%, 05/01/24 (a) | 150,000 | 149,769 |
| 3.50%, 04/01/25 (a) | 300,000 | 294,573 |
| 3.63%, 05/01/27 (a) | 150,000 | 145,394 |
| 4.00%, 03/01/29 (a) | 250,000 | 239,237 |
| 3.00%, 01/15/30 (a) | 150,000 | 133,182 |
| 1.65%, 01/15/31 (a) | 150,000 | 117,543 |
| 2.65%, 03/15/32 (a) | 200,000 | 166,186 |
| 4.50%, 03/15/48 (a) | 114,000 | 103,074 |
| Extra Space Storage LP | ||
| 2.55%, 06/01/31 (a) | 150,000 | 123,720 |
| 2.35%, 03/15/32 (a) | 200,000 | 159,398 |
| Federal Realty Investment Trust | ||
| 3.95%, 01/15/24 (a) | 250,000 | 249,597 |
| 1.25%, 02/15/26 (a) | 150,000 | 134,360 |
| 3.25%, 07/15/27 (a) | 200,000 | 188,084 |
| 3.20%, 06/15/29 (a) | 100,000 | 90,275 |
| 4.50%, 12/01/44 (a) | 250,000 | 223,097 |
| Healthcare Realty Trust, Inc. | ||
| 2.40%, 03/15/30 (a) | 150,000 | 125,171 |
| 2.05%, 03/15/31 (a) | 200,000 | 157,654 |
| Healthcare Trust of America Holdings LP | ||
| 3.50%, 08/01/26 (a) | 300,000 | 285,861 |
| 3.75%, 07/01/27 (a) | 250,000 | 237,557 |
| 2.00%, 03/15/31 (a) | 250,000 | 194,157 |
| Healthpeak Properties, Inc. | ||
| 3.40%, 02/01/25 (a) | 150,000 | 147,611 |
| 4.00%, 06/01/25 (a) | 150,000 | 149,437 |
| 3.25%, 07/15/26 (a) | 300,000 | 288,147 |
| 3.50%, 07/15/29 (a) | 250,000 | 231,127 |
| 3.00%, 01/15/30 (a) | 300,000 | 265,107 |
| 6.75%, 02/01/41 (a) | 200,000 | 228,708 |
| Highwoods Realty LP | ||
| 4.20%, 04/15/29 (a) | 300,000 | 281,187 |
| 3.05%, 02/15/30 (a) | 150,000 | 130,485 |
| 2.60%, 02/01/31 (a) | 150,000 | 124,008 |
52
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Host Hotels & Resorts LP | ||
| 3.88%, 04/01/24 (a) | 175,000 | 173,782 |
| 4.00%, 06/15/25 (a) | 100,000 | 97,911 |
| 4.50%, 02/01/26 (a) | 150,000 | 147,795 |
| 3.38%, 12/15/29 (a) | 200,000 | 169,342 |
| 3.50%, 09/15/30 (a) | 375,000 | 320,464 |
| Hudson Pacific Properties LP | ||
| 3.95%, 11/01/27 (a) | 150,000 | 143,217 |
| 4.65%, 04/01/29 (a) | 150,000 | 144,903 |
| 3.25%, 01/15/30 (a) | 150,000 | 130,826 |
| Invitation Homes Operating Partnership LP | ||
| 2.30%, 11/15/28 (a) | 250,000 | 210,827 |
| 2.00%, 08/15/31 (a) | 200,000 | 154,178 |
| 4.15%, 04/15/32 (a) | 100,000 | 90,884 |
| 2.70%, 01/15/34 (a) | 150,000 | 115,577 |
| Kilroy Realty LP | ||
| 4.38%, 10/01/25 (a) | 150,000 | 148,344 |
| 4.75%, 12/15/28 (a) | 150,000 | 147,635 |
| 4.25%, 08/15/29 (a) | 200,000 | 189,048 |
| 3.05%, 02/15/30 (a) | 200,000 | 171,400 |
| 2.50%, 11/15/32 (a) | 250,000 | 195,642 |
| Kimco Realty Corp. | ||
| 2.80%, 10/01/26 (a) | 450,000 | 422,235 |
| 1.90%, 03/01/28 (a) | 250,000 | 216,705 |
| 2.70%, 10/01/30 (a) | 300,000 | 258,708 |
| 4.25%, 04/01/45 (a) | 150,000 | 126,600 |
| 4.45%, 09/01/47 (a) | 200,000 | 175,398 |
| 3.70%, 10/01/49 (a) | 150,000 | 117,089 |
| Kite Realty Group LP | ||
| 4.00%, 10/01/26 (a) | 100,000 | 96,028 |
| Lexington Realty Trust | ||
| 2.70%, 09/15/30 (a) | 250,000 | 206,270 |
| Life Storage LP | ||
| 3.88%, 12/15/27 (a) | 350,000 | 334,607 |
| 4.00%, 06/15/29 (a) | 150,000 | 137,844 |
| 2.20%, 10/15/30 (a) | 300,000 | 241,044 |
| Mid-America Apartments LP | ||
| 3.75%, 06/15/24 (a) | 250,000 | 249,255 |
| 4.00%, 11/15/25 (a) | 150,000 | 149,211 |
| 3.60%, 06/01/27 (a) | 60,000 | 57,850 |
| 4.20%, 06/15/28 (a) | 200,000 | 195,830 |
| 3.95%, 03/15/29 (a) | 50,000 | 47,890 |
| 2.75%, 03/15/30 (a) | 100,000 | 87,368 |
| 1.70%, 02/15/31 (a) | 250,000 | 198,430 |
| 2.88%, 09/15/51 (a) | 150,000 | 104,570 |
| National Health Investors, Inc. | ||
| 3.00%, 02/01/31 (a) | 175,000 | 135,644 |
| National Retail Properties, Inc. | ||
| 3.90%, 06/15/24 (a) | 100,000 | 99,834 |
| 3.60%, 12/15/26 (a) | 150,000 | 144,692 |
| 3.50%, 10/15/27 (a) | 125,000 | 117,176 |
| 4.30%, 10/15/28 (a) | 200,000 | 194,502 |
| 2.50%, 04/15/30 (a) | 100,000 | 85,212 |
| 4.80%, 10/15/48 (a) | 135,000 | 125,920 |
| 3.10%, 04/15/50 (a) | 150,000 | 104,466 |
| 3.00%, 04/15/52 (a) | 200,000 | 138,120 |
| Office Properties Income Trust | ||
| 4.25%, 05/15/24 (a) | 150,000 | 145,962 |
| 4.50%, 02/01/25 (a) | 167,000 | 160,185 |
| 2.65%, 06/15/26 (a) | 200,000 | 170,242 |
| 3.45%, 10/15/31 (a) | 150,000 | 111,905 |
| Omega Healthcare Investors, Inc. | ||
| 4.95%, 04/01/24 (a) | 500,000 | 502,065 |
| 4.50%, 01/15/25 (a) | 50,000 | 49,503 |
| 5.25%, 01/15/26 (a) | 100,000 | 99,122 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.50%, 04/01/27 (a) | 100,000 | 95,220 |
| 4.75%, 01/15/28 (a) | 93,000 | 88,400 |
| 3.63%, 10/01/29 (a) | 150,000 | 126,908 |
| 3.38%, 02/01/31 (a) | 250,000 | 203,137 |
| 3.25%, 04/15/33 (a) | 300,000 | 227,301 |
| Physicians Realty LP | ||
| 4.30%, 03/15/27 (a) | 300,000 | 294,612 |
| Piedmont Operating Partnership LP | ||
| 3.15%, 08/15/30 (a) | 200,000 | 166,282 |
| 2.75%, 04/01/32 (a) | 100,000 | 77,328 |
| Prologis LP | ||
| 3.25%, 10/01/26 (a) | 150,000 | 146,042 |
| 4.38%, 02/01/29 (a) | 25,000 | 25,001 |
| 2.25%, 04/15/30 (a) | 350,000 | 303,096 |
| 1.25%, 10/15/30 (a) | 350,000 | 278,939 |
| 1.63%, 03/15/31 (a) | 200,000 | 161,894 |
| 3.00%, 04/15/50 (a) | 300,000 | 228,054 |
| 2.13%, 10/15/50 (a) | 300,000 | 191,721 |
| Public Storage | ||
| 0.88%, 02/15/26 (a) | 200,000 | 178,768 |
| 1.50%, 11/09/26 (a) | 150,000 | 135,591 |
| 3.09%, 09/15/27 (a) | 250,000 | 237,507 |
| 3.39%, 05/01/29 (a) | 300,000 | 279,279 |
| 2.30%, 05/01/31 (a) | 250,000 | 210,582 |
| 2.25%, 11/09/31 (a) | 200,000 | 165,960 |
| Realty Income Corp. | ||
| 4.60%, 02/06/24 (a) | 200,000 | 201,922 |
| 3.88%, 07/15/24 (a) | 300,000 | 300,306 |
| 4.63%, 11/01/25 (a) | 250,000 | 253,675 |
| 0.75%, 03/15/26 (a) | 150,000 | 132,270 |
| 4.13%, 10/15/26 (a) | 50,000 | 49,810 |
| 3.00%, 01/15/27 (a) | 300,000 | 284,589 |
| 3.95%, 08/15/27 (a) | 300,000 | 293,748 |
| 3.40%, 01/15/28 (a) | 150,000 | 142,001 |
| 3.65%, 01/15/28 (a) | 300,000 | 288,546 |
| 3.10%, 12/15/29 (a) | 100,000 | 91,107 |
| 3.25%, 01/15/31 (a) | 400,000 | 365,104 |
| 2.85%, 12/15/32 (a) | 200,000 | 171,684 |
| 4.65%, 03/15/47 (a) | 200,000 | 194,944 |
| Regency Centers LP | ||
| 3.60%, 02/01/27 (a) | 250,000 | 242,607 |
| 4.13%, 03/15/28 (a) | 200,000 | 192,884 |
| 2.95%, 09/15/29 (a) | 150,000 | 132,168 |
| 3.70%, 06/15/30 (a) | 50,000 | 45,425 |
| 4.40%, 02/01/47 (a) | 175,000 | 154,553 |
| 4.65%, 03/15/49 (a) | 50,000 | 45,001 |
| Retail Properties of America, Inc. | ||
| 4.75%, 09/15/30 (a) | 150,000 | 139,979 |
| Rexford Industrial Realty LP | ||
| 2.15%, 09/01/31 (a) | 350,000 | 275,166 |
| Sabra Health Care LP | ||
| 5.13%, 08/15/26 (a) | 200,000 | 194,484 |
| 3.90%, 10/15/29 (a) | 125,000 | 110,525 |
| 3.20%, 12/01/31 (a) | 250,000 | 198,752 |
| Safehold Operating Partnership LP | ||
| 2.80%, 06/15/31 (a) | 150,000 | 121,836 |
| Simon Property Group LP | ||
| 3.75%, 02/01/24 (a) | 350,000 | 349,559 |
| 2.00%, 09/13/24 (a) | 175,000 | 167,596 |
| 3.38%, 10/01/24 (a) | 100,000 | 99,099 |
| 3.50%, 09/01/25 (a) | 300,000 | 293,238 |
| 3.30%, 01/15/26 (a) | 300,000 | 290,406 |
| 3.25%, 11/30/26 (a) | 200,000 | 191,192 |
| 3.38%, 06/15/27 (a) | 350,000 | 332,419 |
| 3.38%, 12/01/27 (a) | 100,000 | 94,036 |
53
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.75%, 02/01/28 (a) | 350,000 | 299,050 |
| 2.45%, 09/13/29 (a) | 550,000 | 467,203 |
| 2.65%, 07/15/30 (a) | 100,000 | 84,935 |
| 2.20%, 02/01/31 (a) | 100,000 | 81,268 |
| 6.75%, 02/01/40 (a) | 270,000 | 306,061 |
| 4.75%, 03/15/42 (a) | 250,000 | 230,705 |
| 4.25%, 10/01/44 (a) | 200,000 | 170,882 |
| 4.25%, 11/30/46 (a) | 100,000 | 86,266 |
| 3.25%, 09/13/49 (a) | 450,000 | 328,432 |
| 3.80%, 07/15/50 (a) | 300,000 | 241,476 |
| SITE Centers Corp. | ||
| 3.63%, 02/01/25 (a) | 150,000 | 145,947 |
| 4.25%, 02/01/26 (a) | 200,000 | 196,284 |
| 4.70%, 06/01/27 (a) | 154,000 | 151,550 |
| Spirit Realty LP | ||
| 4.45%, 09/15/26 (a) | 60,000 | 59,213 |
| 3.20%, 01/15/27 (a) | 200,000 | 184,098 |
| 3.40%, 01/15/30 (a) | 250,000 | 216,255 |
| 3.20%, 02/15/31 (a) | 250,000 | 209,310 |
| STORE Capital Corp. | ||
| 4.50%, 03/15/28 (a) | 85,000 | 83,213 |
| 4.63%, 03/15/29 (a) | 150,000 | 146,913 |
| 2.75%, 11/18/30 (a) | 150,000 | 123,528 |
| Sun Communities Operating LP | ||
| 2.30%, 11/01/28 (a) | 150,000 | 128,505 |
| 2.70%, 07/15/31 (a) | 200,000 | 161,274 |
| Tanger Properties LP | ||
| 3.13%, 09/01/26 (a) | 150,000 | 141,170 |
| 3.88%, 07/15/27 (a) | 150,000 | 142,082 |
| UDR, Inc. | ||
| 2.95%, 09/01/26 (a) | 150,000 | 141,339 |
| 3.50%, 01/15/28 (a) | 145,000 | 136,868 |
| 4.40%, 01/26/29 (a) | 300,000 | 293,490 |
| 3.00%, 08/15/31 (a) | 400,000 | 342,500 |
| 2.10%, 08/01/32 (a) | 100,000 | 78,217 |
| Ventas Realty LP | ||
| 3.50%, 04/15/24 (a) | 100,000 | 99,018 |
| 3.75%, 05/01/24 (a) | 150,000 | 149,143 |
| 2.65%, 01/15/25 (a) | 150,000 | 143,708 |
| 3.50%, 02/01/25 (a) | 250,000 | 244,327 |
| 4.13%, 01/15/26 (a) | 150,000 | 148,493 |
| 3.25%, 10/15/26 (a) | 250,000 | 236,530 |
| 4.00%, 03/01/28 (a) | 300,000 | 287,376 |
| 4.40%, 01/15/29 (a) | 250,000 | 240,552 |
| 4.75%, 11/15/30 (a) | 300,000 | 293,262 |
| 5.70%, 09/30/43 (a) | 150,000 | 153,460 |
| 4.88%, 04/15/49 (a) | 150,000 | 139,916 |
| Vornado Realty LP | ||
| 3.50%, 01/15/25 (a) | 150,000 | 145,601 |
| 2.15%, 06/01/26 (a) | 150,000 | 133,716 |
| Welltower, Inc. | ||
| 4.50%, 01/15/24 (a) | 300,000 | 302,181 |
| 3.63%, 03/15/24 (a) | 300,000 | 297,777 |
| 4.00%, 06/01/25 (a) | 200,000 | 198,946 |
| 4.25%, 04/01/26 (a) | 400,000 | 396,496 |
| 2.70%, 02/15/27 (a) | 100,000 | 92,555 |
| 4.13%, 03/15/29 (a) | 400,000 | 379,276 |
| 3.10%, 01/15/30 (a) | 150,000 | 132,438 |
| 2.75%, 01/15/31 (a) | 300,000 | 253,563 |
| 6.50%, 03/15/41 (a) | 300,000 | 337,032 |
| 4.95%, 09/01/48 (a) | 200,000 | 190,444 |
| WP Carey, Inc. | ||
| 4.60%, 04/01/24 (a) | 85,000 | 85,577 |
| 4.00%, 02/01/25 (a) | 400,000 | 398,884 |
| 3.85%, 07/15/29 (a) | 100,000 | 93,440 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.40%, 02/01/31 (a) | 200,000 | 163,730 |
| 2.25%, 04/01/33 (a) | 150,000 | 115,763 |
| 51,927,077 | ||
| 586,779,398 | ||
| Industrial 13.9% | ||
| Basic Industry 0.6% | ||
| Air Products and Chemicals, Inc. | ||
| 3.35%, 07/31/24 (a) | 20,000 | 19,961 |
| 1.50%, 10/15/25 (a) | 250,000 | 235,627 |
| 1.85%, 05/15/27 (a) | 300,000 | 273,606 |
| 2.05%, 05/15/30 (a) | 250,000 | 216,718 |
| 2.70%, 05/15/40 (a) | 300,000 | 238,971 |
| 2.80%, 05/15/50 (a) | 250,000 | 188,933 |
| Albemarle Corp. | ||
| 5.45%, 12/01/44 (a) | 100,000 | 97,549 |
| AngloGold Ashanti Holdings PLC | ||
| 3.75%, 10/01/30 (a) | 500,000 | 416,250 |
| ArcelorMittal S.A. | ||
| 4.25%, 07/16/29 | 200,000 | 190,108 |
| 7.00%, 10/15/39 | 350,000 | 359,285 |
| Barrick Gold Corp. | ||
| 5.25%, 04/01/42 | 100,000 | 98,917 |
| Barrick North America Finance LLC | ||
| 5.70%, 05/30/41 | 450,000 | 466,096 |
| 5.75%, 05/01/43 | 200,000 | 208,752 |
| Barrick PD Australia Finance Pty Ltd. | ||
| 5.95%, 10/15/39 | 400,000 | 424,684 |
| BHP Billiton Finance USA Ltd. | ||
| 3.85%, 09/30/23 | 200,000 | 201,544 |
| 6.42%, 03/01/26 | 100,000 | 108,489 |
| 4.13%, 02/24/42 | 275,000 | 256,226 |
| 5.00%, 09/30/43 | 850,000 | 875,245 |
| Braskem Finance Ltd. | ||
| 6.45%, 02/03/24 | 200,000 | 206,064 |
| Cabot Corp. | ||
| 4.00%, 07/01/29 (a) | 150,000 | 139,478 |
| Celanese US Holdings LLC | ||
| 3.50%, 05/08/24 (a) | 100,000 | 98,760 |
| 1.40%, 08/05/26 (a) | 150,000 | 129,222 |
| Celulosa Arauco y Constitucion S.A. | ||
| 4.50%, 08/01/24 (a) | 200,000 | 199,336 |
| 3.88%, 11/02/27 (a) | 200,000 | 184,706 |
| 5.50%, 11/02/47 (a) | 200,000 | 167,260 |
| CF Industries, Inc. | ||
| 5.15%, 03/15/34 | 350,000 | 342,856 |
| 5.38%, 03/15/44 | 300,000 | 280,602 |
| Dow Chemical Co. | ||
| 4.80%, 11/30/28 (a) | 50,000 | 50,274 |
| 7.38%, 11/01/29 | 450,000 | 520,069 |
| 2.10%, 11/15/30 (a) | 250,000 | 206,415 |
| 4.25%, 10/01/34 (a) | 300,000 | 285,186 |
| 5.25%, 11/15/41 (a) | 300,000 | 297,312 |
| 4.38%, 11/15/42 (a) | 450,000 | 396,765 |
| 4.63%, 10/01/44 (a) | 150,000 | 136,508 |
| 5.55%, 11/30/48 (a) | 350,000 | 355,425 |
| 4.80%, 05/15/49 (a) | 300,000 | 275,382 |
| 3.60%, 11/15/50 (a) | 250,000 | 191,198 |
| DuPont de Nemours, Inc. | ||
| 4.21%, 11/15/23 (a) | 800,000 | 804,992 |
| 4.49%, 11/15/25 (a) | 625,000 | 629,787 |
| 4.73%, 11/15/28 (a) | 750,000 | 753,457 |
54
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.32%, 11/15/38 (a) | 500,000 | 495,630 |
| 5.42%, 11/15/48 (a) | 655,000 | 651,620 |
| Eastman Chemical Co. | ||
| 3.80%, 03/15/25 (a) | 250,000 | 247,250 |
| 4.80%, 09/01/42 (a) | 250,000 | 225,892 |
| 4.65%, 10/15/44 (a) | 220,000 | 190,958 |
| Ecolab, Inc. | ||
| 2.70%, 11/01/26 (a) | 300,000 | 288,249 |
| 3.25%, 12/01/27 (a) | 450,000 | 438,759 |
| 4.80%, 03/24/30 (a) | 50,000 | 51,878 |
| 1.30%, 01/30/31 (a) | 300,000 | 240,951 |
| 2.13%, 02/01/32 (a) | 250,000 | 211,188 |
| 2.13%, 08/15/50 (a) | 250,000 | 161,315 |
| 2.70%, 12/15/51 (a) | 250,000 | 179,258 |
| 2.75%, 08/18/55 (a) | 264,000 | 185,405 |
| EI du Pont de Nemours and Co. | ||
| 1.70%, 07/15/25 (a) | 200,000 | 187,814 |
| 2.30%, 07/15/30 (a) | 150,000 | 130,145 |
| Fibria Overseas Finance Ltd. | ||
| 4.00%, 01/14/25 (a) | 100,000 | 99,286 |
| 5.50%, 01/17/27 | 250,000 | 248,087 |
| FMC Corp. | ||
| 3.20%, 10/01/26 (a) | 150,000 | 142,928 |
| 3.45%, 10/01/29 (a) | 200,000 | 182,002 |
| 4.50%, 10/01/49 (a) | 250,000 | 214,735 |
| Freeport-McMoRan, Inc. | ||
| 5.00%, 09/01/27 (a) | 500,000 | 496,540 |
| 4.13%, 03/01/28 (a) | 300,000 | 278,637 |
| 4.63%, 08/01/30 (a) | 550,000 | 510,433 |
| 5.40%, 11/14/34 (a) | 300,000 | 293,337 |
| 5.45%, 03/15/43 (a) | 500,000 | 463,210 |
| Georgia-Pacific LLC | ||
| 8.00%, 01/15/24 | 300,000 | 318,249 |
| 7.75%, 11/15/29 | 250,000 | 301,665 |
| Huntsman International LLC | ||
| 4.50%, 05/01/29 (a) | 300,000 | 282,807 |
| 2.95%, 06/15/31 (a) | 150,000 | 124,653 |
| International Flavors & Fragrances, Inc. | ||
| 4.45%, 09/26/28 (a) | 250,000 | 244,580 |
| 4.38%, 06/01/47 (a) | 50,000 | 42,926 |
| 5.00%, 09/26/48 (a) | 300,000 | 280,767 |
| International Paper Co. | ||
| 7.30%, 11/15/39 | 200,000 | 234,350 |
| 6.00%, 11/15/41 (a) | 200,000 | 208,472 |
| 4.80%, 06/15/44 (a) | 250,000 | 232,615 |
| 5.15%, 05/15/46 (a) | 200,000 | 198,200 |
| 4.40%, 08/15/47 (a) | 200,000 | 178,710 |
| 4.35%, 08/15/48 (a) | 250,000 | 222,340 |
| Kinross Gold Corp. | ||
| 5.95%, 03/15/24 (a) | 250,000 | 256,052 |
| 4.50%, 07/15/27 (a) | 150,000 | 146,237 |
| Linde, Inc. | ||
| 2.65%, 02/05/25 (a) | 200,000 | 196,810 |
| 3.20%, 01/30/26 (a) | 350,000 | 348,680 |
| 1.10%, 08/10/30 (a) | 200,000 | 160,460 |
| 3.55%, 11/07/42 (a) | 150,000 | 130,254 |
| 2.00%, 08/10/50 (a) | 100,000 | 63,446 |
| Lubrizol Corp. | ||
| 6.50%, 10/01/34 | 96,000 | 114,280 |
| LYB International Finance BV | ||
| 4.00%, 07/15/23 | 148,000 | 147,851 |
| 5.25%, 07/15/43 | 250,000 | 234,045 |
| 4.88%, 03/15/44 (a) | 250,000 | 226,365 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| LYB International Finance II BV | ||
| 3.50%, 03/02/27 (a) | 200,000 | 191,582 |
| LYB International Finance III LLC | ||
| 2.25%, 10/01/30 (a) | 200,000 | 165,144 |
| 3.38%, 10/01/40 (a) | 250,000 | 192,368 |
| 4.20%, 10/15/49 (a) | 350,000 | 285,918 |
| 4.20%, 05/01/50 (a) | 300,000 | 244,683 |
| 3.63%, 04/01/51 (a) | 250,000 | 185,095 |
| 3.80%, 10/01/60 (a) | 175,000 | 124,744 |
| LyondellBasell Industries NV | ||
| 5.75%, 04/15/24 (a) | 250,000 | 255,835 |
| 4.63%, 02/26/55 (a) | 350,000 | 299,600 |
| Mosaic Co. | ||
| 4.25%, 11/15/23 (a) | 100,000 | 100,713 |
| 4.05%, 11/15/27 (a) | 250,000 | 244,685 |
| 5.45%, 11/15/33 (a) | 150,000 | 155,840 |
| 4.88%, 11/15/41 (a) | 150,000 | 137,381 |
| 5.63%, 11/15/43 (a) | 200,000 | 205,976 |
| NewMarket Corp. | ||
| 2.70%, 03/18/31 (a) | 200,000 | 165,342 |
| Newmont Corp. | ||
| 2.80%, 10/01/29 (a) | 250,000 | 221,665 |
| 2.25%, 10/01/30 (a) | 350,000 | 291,364 |
| 5.88%, 04/01/35 | 250,000 | 264,455 |
| 6.25%, 10/01/39 | 325,000 | 357,861 |
| 4.88%, 03/15/42 (a) | 350,000 | 336,780 |
| 5.45%, 06/09/44 (a) | 175,000 | 176,761 |
| Nucor Corp. | ||
| 2.00%, 06/01/25 (a) | 150,000 | 141,525 |
| 3.95%, 05/01/28 (a) | 200,000 | 194,330 |
| 2.70%, 06/01/30 (a) | 250,000 | 217,028 |
| 6.40%, 12/01/37 | 100,000 | 113,138 |
| 2.98%, 12/15/55 (a) | 400,000 | 271,644 |
| Nutrien Ltd. | ||
| 3.00%, 04/01/25 (a) | 100,000 | 97,731 |
| 4.20%, 04/01/29 (a) | 250,000 | 243,150 |
| 4.13%, 03/15/35 (a) | 300,000 | 278,895 |
| 5.88%, 12/01/36 | 100,000 | 111,205 |
| 5.63%, 12/01/40 | 50,000 | 52,251 |
| 6.13%, 01/15/41 (a) | 200,000 | 219,946 |
| 4.90%, 06/01/43 (a) | 200,000 | 194,596 |
| 5.25%, 01/15/45 (a) | 225,000 | 225,670 |
| 5.00%, 04/01/49 (a) | 50,000 | 49,798 |
| 3.95%, 05/13/50 (a) | 300,000 | 259,548 |
| Packaging Corp. of America | ||
| 3.65%, 09/15/24 (a) | 200,000 | 198,774 |
| 3.40%, 12/15/27 (a) | 200,000 | 192,592 |
| 4.05%, 12/15/49 (a) | 150,000 | 124,457 |
| 3.05%, 10/01/51 (a) | 200,000 | 142,276 |
| PPG Industries, Inc. | ||
| 2.40%, 08/15/24 (a) | 100,000 | 97,402 |
| 3.75%, 03/15/28 (a) | 300,000 | 294,072 |
| 2.80%, 08/15/29 (a) | 150,000 | 136,268 |
| 2.55%, 06/15/30 (a) | 100,000 | 88,286 |
| Reliance Steel & Aluminum Co. | ||
| 1.30%, 08/15/25 (a) | 75,000 | 68,313 |
| 2.15%, 08/15/30 (a) | 250,000 | 202,580 |
| Rio Tinto Alcan, Inc. | ||
| 7.25%, 03/15/31 | 281,000 | 335,553 |
| 6.13%, 12/15/33 | 50,000 | 56,955 |
| 5.75%, 06/01/35 | 50,000 | 55,113 |
| Rio Tinto Finance USA Ltd. | ||
| 7.13%, 07/15/28 | 250,000 | 288,100 |
| 5.20%, 11/02/40 | 350,000 | 365,144 |
| 2.75%, 11/02/51 (a) | 200,000 | 145,484 |
55
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Rio Tinto Finance USA PLC | ||
| 4.75%, 03/22/42 (a) | 400,000 | 399,740 |
| 4.13%, 08/21/42 (a) | 150,000 | 138,831 |
| RPM International, Inc. | ||
| 3.75%, 03/15/27 (a) | 250,000 | 240,312 |
| 4.25%, 01/15/48 (a) | 250,000 | 214,715 |
| Sherwin-Williams Co. | ||
| 3.13%, 06/01/24 (a) | 250,000 | 248,192 |
| 3.45%, 08/01/25 (a) | 100,000 | 98,543 |
| 3.45%, 06/01/27 (a) | 650,000 | 620,893 |
| 2.95%, 08/15/29 (a) | 300,000 | 268,770 |
| 2.30%, 05/15/30 (a) | 200,000 | 168,856 |
| 4.55%, 08/01/45 (a) | 150,000 | 132,537 |
| 4.50%, 06/01/47 (a) | 500,000 | 443,290 |
| 3.80%, 08/15/49 (a) | 200,000 | 160,936 |
| 3.30%, 05/15/50 (a) | 200,000 | 148,440 |
| Southern Copper Corp. | ||
| 3.88%, 04/23/25 | 200,000 | 198,212 |
| 7.50%, 07/27/35 | 350,000 | 415,555 |
| 6.75%, 04/16/40 | 450,000 | 507,928 |
| 5.25%, 11/08/42 | 300,000 | 292,275 |
| 5.88%, 04/23/45 | 345,000 | 358,969 |
| Steel Dynamics, Inc. | ||
| 2.40%, 06/15/25 (a) | 150,000 | 142,119 |
| 5.00%, 12/15/26 (a) | 150,000 | 148,622 |
| 1.65%, 10/15/27 (a) | 100,000 | 85,881 |
| 3.45%, 04/15/30 (a) | 250,000 | 222,825 |
| 3.25%, 01/15/31 (a) | 200,000 | 174,048 |
| 3.25%, 10/15/50 (a) | 150,000 | 104,207 |
| Suzano Austria GmbH | ||
| 6.00%, 01/15/29 (a) | 550,000 | 543,306 |
| 5.00%, 01/15/30 (a) | 500,000 | 455,750 |
| 3.75%, 01/15/31 (a) | 250,000 | 202,165 |
| 3.13%, 01/15/32 (a) | 350,000 | 264,169 |
| Teck Resources Ltd. | ||
| 3.90%, 07/15/30 (a) | 250,000 | 230,080 |
| 6.00%, 08/15/40 (a) | 190,000 | 190,397 |
| 5.40%, 02/01/43 (a) | 100,000 | 93,960 |
| Vale Overseas Ltd. | ||
| 6.25%, 08/10/26 | 550,000 | 574,997 |
| 3.75%, 07/08/30 (a) | 500,000 | 437,795 |
| 6.88%, 11/21/36 | 523,000 | 561,101 |
| 6.88%, 11/10/39 | 375,000 | 400,436 |
| Westlake Chemical Corp. | ||
| 3.60%, 08/15/26 (a) | 250,000 | 243,647 |
| 3.38%, 06/15/30 (a) | 150,000 | 135,206 |
| 2.88%, 08/15/41 (a) | 75,000 | 53,295 |
| 5.00%, 08/15/46 (a) | 225,000 | 213,235 |
| 4.38%, 11/15/47 (a) | 180,000 | 155,563 |
| 3.13%, 08/15/51 (a) | 200,000 | 139,726 |
| 3.38%, 08/15/61 (a) | 200,000 | 135,830 |
| WestRock MWV LLC | ||
| 8.20%, 01/15/30 | 40,000 | 47,553 |
| Weyerhaeuser Co. | ||
| 6.95%, 10/01/27 | 200,000 | 221,824 |
| 4.00%, 11/15/29 (a) | 175,000 | 166,061 |
| 7.38%, 03/15/32 | 450,000 | 521,208 |
| WRKCo, Inc. | ||
| 3.00%, 09/15/24 (a) | 250,000 | 244,095 |
| 3.75%, 03/15/25 (a) | 200,000 | 198,114 |
| 4.65%, 03/15/26 (a) | 350,000 | 352,271 |
| 3.90%, 06/01/28 (a) | 250,000 | 241,807 |
| 4.90%, 03/15/29 (a) | 300,000 | 302,145 |
| 4.20%, 06/01/32 (a) | 250,000 | 237,072 |
| 3.00%, 06/15/33 (a) | 250,000 | 211,353 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Yamana Gold, Inc. | ||
| 2.63%, 08/15/31 (a)(c) | 150,000 | 120,951 |
| 47,133,760 | ||
| Capital Goods 1.3% | ||
| 3M Co. | ||
| 3.25%, 02/14/24 (a) | 250,000 | 250,352 |
| 2.00%, 02/14/25 (a) | 450,000 | 433,552 |
| 2.65%, 04/15/25 (a) | 200,000 | 195,436 |
| 3.00%, 08/07/25 | 100,000 | 98,505 |
| 2.25%, 09/19/26 (a) | 100,000 | 94,593 |
| 2.88%, 10/15/27 (a) | 300,000 | 288,513 |
| 3.38%, 03/01/29 (a) | 150,000 | 144,420 |
| 2.38%, 08/26/29 (a) | 350,000 | 313,607 |
| 3.05%, 04/15/30 (a) | 200,000 | 186,008 |
| 3.13%, 09/19/46 (a) | 200,000 | 158,000 |
| 3.63%, 10/15/47 (a) | 250,000 | 214,228 |
| 4.00%, 09/14/48 (a) | 450,000 | 407,925 |
| 3.25%, 08/26/49 (a) | 300,000 | 239,694 |
| 3.70%, 04/15/50 (a)(e) | 250,000 | 216,020 |
| ABB Finance USA, Inc. | ||
| 3.80%, 04/03/28 (a) | 200,000 | 196,446 |
| Acuity Brands Lighting, Inc. | ||
| 2.15%, 12/15/30 (a) | 200,000 | 159,166 |
| Allegion PLC | ||
| 3.50%, 10/01/29 (a) | 110,000 | 97,770 |
| Allegion US Holding Co., Inc. | ||
| 3.20%, 10/01/24 (a) | 350,000 | 340,662 |
| Amcor Finance USA, Inc. | ||
| 3.63%, 04/28/26 (a) | 80,000 | 76,926 |
| 4.50%, 05/15/28 (a) | 300,000 | 295,590 |
| Amcor Flexibles North America, Inc. | ||
| 2.63%, 06/19/30 (a) | 250,000 | 205,305 |
| 2.69%, 05/25/31 (a) | 250,000 | 204,265 |
| Amphenol Corp. | ||
| 2.05%, 03/01/25 (a) | 200,000 | 190,612 |
| 4.35%, 06/01/29 (a) | 200,000 | 196,662 |
| 2.80%, 02/15/30 (a) | 300,000 | 261,438 |
| Avery Dennison Corp. | ||
| 4.88%, 12/06/28 (a) | 200,000 | 200,558 |
| 2.65%, 04/30/30 (a) | 200,000 | 167,272 |
| Berry Global, Inc. | ||
| 0.95%, 02/15/24 (a) | 150,000 | 142,145 |
| 1.57%, 01/15/26 (a) | 600,000 | 535,944 |
| 1.65%, 01/15/27 (a) | 100,000 | 87,401 |
| Boeing Co. | ||
| 1.95%, 02/01/24 | 350,000 | 338,250 |
| 1.43%, 02/04/24 (a) | 900,000 | 861,426 |
| 2.80%, 03/01/24 (a) | 150,000 | 147,221 |
| 2.85%, 10/30/24 (a) | 100,000 | 97,373 |
| 4.88%, 05/01/25 (a) | 1,100,000 | 1,096,238 |
| 2.60%, 10/30/25 (a) | 100,000 | 93,548 |
| 2.75%, 02/01/26 (a) | 500,000 | 464,670 |
| 2.20%, 02/04/26 (a) | 1,750,000 | 1,580,092 |
| 3.10%, 05/01/26 (a) | 200,000 | 187,232 |
| 2.25%, 06/15/26 (a) | 50,000 | 45,157 |
| 2.70%, 02/01/27 (a) | 300,000 | 267,084 |
| 2.80%, 03/01/27 (a) | 100,000 | 89,762 |
| 5.04%, 05/01/27 (a) | 650,000 | 642,395 |
| 3.25%, 03/01/28 (a) | 100,000 | 90,007 |
| 3.45%, 11/01/28 (a) | 150,000 | 134,117 |
| 3.20%, 03/01/29 (a) | 350,000 | 303,891 |
| 2.95%, 02/01/30 (a) | 250,000 | 207,833 |
| 5.15%, 05/01/30 (a) | 1,400,000 | 1,344,042 |
| 3.63%, 02/01/31 (a) | 500,000 | 432,920 |
56
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 6.13%, 02/15/33 | 150,000 | 153,561 |
| 3.60%, 05/01/34 (a) | 250,000 | 200,115 |
| 3.25%, 02/01/35 (a) | 250,000 | 190,655 |
| 3.55%, 03/01/38 (a) | 150,000 | 110,160 |
| 3.50%, 03/01/39 (a) | 150,000 | 108,999 |
| 6.88%, 03/15/39 | 100,000 | 104,590 |
| 5.88%, 02/15/40 | 150,000 | 141,594 |
| 5.71%, 05/01/40 (a) | 900,000 | 842,823 |
| 3.65%, 03/01/47 (a) | 100,000 | 68,376 |
| 3.63%, 03/01/48 (a) | 100,000 | 67,465 |
| 3.85%, 11/01/48 (a) | 150,000 | 107,204 |
| 3.90%, 05/01/49 (a) | 150,000 | 107,336 |
| 3.75%, 02/01/50 (a) | 425,000 | 300,003 |
| 5.81%, 05/01/50 (a) | 1,700,000 | 1,567,536 |
| 3.83%, 03/01/59 (a) | 100,000 | 65,081 |
| 3.95%, 08/01/59 (a) | 340,000 | 230,000 |
| 5.93%, 05/01/60 (a) | 1,100,000 | 1,014,321 |
| Carlisle Cos., Inc. | ||
| 0.55%, 09/01/23 (a) | 100,000 | 96,590 |
| 3.50%, 12/01/24 (a) | 400,000 | 395,256 |
| 2.75%, 03/01/30 (a) | 250,000 | 210,233 |
| Carrier Global Corp. | ||
| 2.24%, 02/15/25 (a) | 450,000 | 427,608 |
| 2.49%, 02/15/27 (a) | 89,000 | 81,338 |
| 2.72%, 02/15/30 (a) | 700,000 | 606,452 |
| 2.70%, 02/15/31 (a)(c) | 250,000 | 211,970 |
| 3.38%, 04/05/40 (a) | 500,000 | 392,980 |
| 3.58%, 04/05/50 (a)(c) | 550,000 | 417,967 |
| Caterpillar Financial Services Corp. | ||
| 0.65%, 07/07/23 | 500,000 | 487,730 |
| 0.45%, 09/14/23 | 400,000 | 388,268 |
| 3.75%, 11/24/23 | 200,000 | 201,810 |
| 3.65%, 12/07/23 | 100,000 | 100,765 |
| 2.85%, 05/17/24 | 150,000 | 148,743 |
| 3.30%, 06/09/24 | 250,000 | 250,047 |
| 0.60%, 09/13/24 | 200,000 | 188,320 |
| 2.15%, 11/08/24 | 450,000 | 437,112 |
| 3.25%, 12/01/24 | 100,000 | 99,969 |
| 1.45%, 05/15/25 | 300,000 | 283,428 |
| 0.80%, 11/13/25 | 500,000 | 454,775 |
| 0.90%, 03/02/26 | 300,000 | 272,883 |
| 1.10%, 09/14/27 | 450,000 | 395,370 |
| Caterpillar, Inc. | ||
| 3.40%, 05/15/24 (a) | 600,000 | 602,286 |
| 2.60%, 04/09/30 (a) | 250,000 | 227,092 |
| 6.05%, 08/15/36 | 325,000 | 377,114 |
| 5.20%, 05/27/41 | 275,000 | 296,931 |
| 3.80%, 08/15/42 | 250,000 | 228,845 |
| 4.30%, 05/15/44 (a) | 175,000 | 169,971 |
| 3.25%, 09/19/49 (a) | 400,000 | 329,272 |
| 3.25%, 04/09/50 (a) | 400,000 | 331,216 |
| 4.75%, 05/15/64 (a) | 200,000 | 203,546 |
| CNH Industrial Capital LLC | ||
| 1.95%, 07/02/23 | 100,000 | 97,741 |
| 4.20%, 01/15/24 | 240,000 | 240,170 |
| 1.88%, 01/15/26 (a) | 200,000 | 181,644 |
| CNH Industrial NV | ||
| 4.50%, 08/15/23 | 250,000 | 252,350 |
| 3.85%, 11/15/27 (a) | 250,000 | 235,807 |
| Crane Co. | ||
| 4.20%, 03/15/48 (a) | 150,000 | 122,705 |
| Deere & Co. | ||
| 2.75%, 04/15/25 (a) | 500,000 | 489,530 |
| 5.38%, 10/16/29 | 250,000 | 271,782 |
| 3.10%, 04/15/30 (a) | 350,000 | 327,393 |
| 7.13%, 03/03/31 | 150,000 | 181,350 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.90%, 06/09/42 (a) | 250,000 | 235,370 |
| 2.88%, 09/07/49 (a) | 200,000 | 157,672 |
| 3.75%, 04/15/50 (a) | 300,000 | 274,821 |
| Dover Corp. | ||
| 2.95%, 11/04/29 (a) | 150,000 | 136,725 |
| 5.38%, 10/15/35 | 100,000 | 103,742 |
| 5.38%, 03/01/41 (a) | 150,000 | 152,273 |
| Eagle Materials, Inc. | ||
| 2.50%, 07/01/31 (a) | 250,000 | 197,540 |
| Eaton Corp. | ||
| 4.00%, 11/02/32 | 200,000 | 194,530 |
| 4.15%, 11/02/42 | 350,000 | 315,353 |
| Emerson Electric Co. | ||
| 0.88%, 10/15/26 (a) | 200,000 | 177,108 |
| 1.80%, 10/15/27 (a) | 350,000 | 314,065 |
| 1.95%, 10/15/30 (a) | 200,000 | 168,744 |
| 2.20%, 12/21/31 (a) | 250,000 | 211,725 |
| 5.25%, 11/15/39 | 140,000 | 149,034 |
| 2.75%, 10/15/50 (a) | 300,000 | 217,158 |
| 2.80%, 12/21/51 (a) | 250,000 | 183,083 |
| Flowserve Corp. | ||
| 3.50%, 10/01/30 (a) | 350,000 | 298,144 |
| Fortive Corp. | ||
| 3.15%, 06/15/26 (a) | 250,000 | 236,912 |
| 4.30%, 06/15/46 (a) | 250,000 | 219,045 |
| Fortune Brands Home & Security, Inc. | ||
| 4.00%, 09/21/23 (a) | 200,000 | 200,774 |
| 4.00%, 06/15/25 (a) | 250,000 | 247,000 |
| 3.25%, 09/15/29 (a) | 200,000 | 173,116 |
| GE Capital Funding LLC | ||
| 4.55%, 05/15/32 (a) | 250,000 | 241,167 |
| GE Capital International Funding Co. | ||
| 3.37%, 11/15/25 | 200,000 | 195,088 |
| 4.42%, 11/15/35 | 2,300,000 | 2,154,111 |
| General Dynamics Corp. | ||
| 1.88%, 08/15/23 (a) | 200,000 | 197,478 |
| 2.38%, 11/15/24 (a) | 100,000 | 97,454 |
| 3.25%, 04/01/25 (a) | 250,000 | 248,142 |
| 3.50%, 05/15/25 (a) | 250,000 | 249,490 |
| 2.13%, 08/15/26 (a) | 250,000 | 234,867 |
| 3.50%, 04/01/27 (a) | 250,000 | 245,980 |
| 2.63%, 11/15/27 (a) | 150,000 | 140,511 |
| 3.75%, 05/15/28 (a) | 400,000 | 394,208 |
| 3.63%, 04/01/30 (a) | 350,000 | 339,349 |
| 2.25%, 06/01/31 (a) | 200,000 | 174,644 |
| 4.25%, 04/01/40 (a) | 300,000 | 287,322 |
| 3.60%, 11/15/42 (a) | 150,000 | 129,935 |
| 4.25%, 04/01/50 (a) | 175,000 | 168,312 |
| General Electric Co. | ||
| 6.75%, 03/15/32 | 808,000 | 904,322 |
| 5.88%, 01/14/38 | 100,000 | 104,387 |
| 6.88%, 01/10/39 | 100,000 | 113,819 |
| 4.35%, 05/01/50 (a) | 175,000 | 152,464 |
| Honeywell International, Inc. | ||
| 3.35%, 12/01/23 | 100,000 | 100,340 |
| 2.30%, 08/15/24 (a) | 250,000 | 245,580 |
| 1.35%, 06/01/25 (a) | 400,000 | 377,356 |
| 2.50%, 11/01/26 (a) | 550,000 | 525,866 |
| 1.10%, 03/01/27 (a) | 250,000 | 222,488 |
| 2.70%, 08/15/29 (a) | 250,000 | 230,032 |
| 1.95%, 06/01/30 (a) | 500,000 | 430,160 |
| 1.75%, 09/01/31 (a) | 500,000 | 414,270 |
| 5.70%, 03/15/37 | 200,000 | 227,666 |
| 3.81%, 11/21/47 (a) | 200,000 | 182,738 |
| 2.80%, 06/01/50 (a)(e) | 250,000 | 193,373 |
57
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Hubbell, Inc. | ||
| 3.35%, 03/01/26 (a) | 50,000 | 48,712 |
| 3.15%, 08/15/27 (a) | 100,000 | 94,417 |
| 3.50%, 02/15/28 (a) | 150,000 | 144,156 |
| 2.30%, 03/15/31 (a) | 150,000 | 126,440 |
| Huntington Ingalls Industries, Inc. | ||
| 0.67%, 08/16/23 (a) | 250,000 | 241,090 |
| 3.48%, 12/01/27 (a) | 240,000 | 225,199 |
| 4.20%, 05/01/30 (a) | 250,000 | 235,790 |
| IDEX Corp. | ||
| 3.00%, 05/01/30 (a) | 350,000 | 305,564 |
| Illinois Tool Works, Inc. | ||
| 3.50%, 03/01/24 (a) | 115,000 | 115,499 |
| 2.65%, 11/15/26 (a) | 450,000 | 430,393 |
| 4.88%, 09/15/41 (a) | 150,000 | 154,350 |
| 3.90%, 09/01/42 (a) | 350,000 | 310,765 |
| John Deere Capital Corp. | ||
| 0.70%, 07/05/23 | 50,000 | 48,841 |
| 0.40%, 10/10/23 | 150,000 | 145,215 |
| 3.45%, 01/10/24 | 200,000 | 200,764 |
| 2.60%, 03/07/24 | 500,000 | 494,935 |
| 2.65%, 06/24/24 | 475,000 | 470,616 |
| 2.05%, 01/09/25 | 250,000 | 242,247 |
| 2.13%, 03/07/25 | 250,000 | 241,672 |
| 3.45%, 03/13/25 | 75,000 | 75,177 |
| 3.40%, 06/06/25 | 250,000 | 249,275 |
| 3.40%, 09/11/25 | 200,000 | 199,528 |
| 0.70%, 01/15/26 | 200,000 | 180,952 |
| 2.65%, 06/10/26 | 200,000 | 192,744 |
| 1.05%, 06/17/26 | 250,000 | 226,535 |
| 2.25%, 09/14/26 | 400,000 | 376,844 |
| 1.75%, 03/09/27 | 150,000 | 136,979 |
| 2.80%, 09/08/27 | 350,000 | 334,113 |
| 3.05%, 01/06/28 | 50,000 | 48,006 |
| 3.45%, 03/07/29 | 200,000 | 193,560 |
| 2.80%, 07/18/29 | 400,000 | 368,696 |
| 2.45%, 01/09/30 | 200,000 | 179,628 |
| 2.00%, 06/17/31 | 200,000 | 170,216 |
| Johnson Controls International plc | ||
| 3.63%, 07/02/24 (a) | 150,000 | 148,835 |
| 3.90%, 02/14/26 (a) | 183,000 | 182,228 |
| 1.75%, 09/15/30 (a) | 150,000 | 122,393 |
| 6.00%, 01/15/36 | 382,000 | 416,743 |
| 4.63%, 07/02/44 (a) | 200,000 | 180,612 |
| 5.13%, 09/14/45 (a) | 174,000 | 168,663 |
| 4.50%, 02/15/47 (a) | 50,000 | 43,890 |
| Kennametal, Inc. | ||
| 4.63%, 06/15/28 (a) | 300,000 | 293,031 |
| L3Harris Technologies, Inc. | ||
| 3.95%, 05/28/24 (a) | 100,000 | 100,465 |
| 3.83%, 04/27/25 (a) | 200,000 | 197,948 |
| 3.85%, 12/15/26 (a) | 200,000 | 196,378 |
| 4.40%, 06/15/28 (a) | 545,000 | 536,040 |
| 2.90%, 12/15/29 (a) | 150,000 | 134,283 |
| 1.80%, 01/15/31 (a) | 200,000 | 159,650 |
| 4.85%, 04/27/35 (a) | 200,000 | 198,084 |
| 6.15%, 12/15/40 | 50,000 | 55,293 |
| 5.05%, 04/27/45 (a) | 100,000 | 97,628 |
| Lafarge S.A. | ||
| 7.13%, 07/15/36 | 150,000 | 178,098 |
| Leggett & Platt, Inc. | ||
| 3.50%, 11/15/27 (a) | 200,000 | 189,650 |
| 4.40%, 03/15/29 (a) | 226,000 | 219,842 |
| 3.50%, 11/15/51 (a) | 150,000 | 113,910 |
| Legrand France S.A. | ||
| 8.50%, 02/15/25 | 200,000 | 221,434 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Lennox International, Inc. | ||
| 1.35%, 08/01/25 (a) | 100,000 | 91,779 |
| 1.70%, 08/01/27 (a) | 300,000 | 262,770 |
| Lockheed Martin Corp. | ||
| 3.55%, 01/15/26 (a) | 225,000 | 225,423 |
| 1.85%, 06/15/30 (a) | 300,000 | 256,251 |
| 3.60%, 03/01/35 (a) | 100,000 | 92,421 |
| 4.50%, 05/15/36 (a) | 100,000 | 100,052 |
| 6.15%, 09/01/36 | 300,000 | 347,988 |
| 5.72%, 06/01/40 | 165,000 | 183,332 |
| 4.07%, 12/15/42 | 450,000 | 418,144 |
| 3.80%, 03/01/45 (a) | 350,000 | 309,561 |
| 4.70%, 05/15/46 (a) | 350,000 | 354,746 |
| 2.80%, 06/15/50 (a) | 250,000 | 187,350 |
| 4.09%, 09/15/52 (a) | 525,000 | 490,733 |
| 4.15%, 06/15/53 (a) | 200,000 | 187,548 |
| 4.30%, 06/15/62 (a) | 200,000 | 188,908 |
| Martin Marietta Materials, Inc. | ||
| 0.65%, 07/15/23 (a) | 250,000 | 241,595 |
| 4.25%, 07/02/24 (a) | 100,000 | 100,599 |
| 3.45%, 06/01/27 (a) | 25,000 | 23,875 |
| 3.50%, 12/15/27 (a) | 150,000 | 141,954 |
| 2.50%, 03/15/30 (a) | 200,000 | 168,846 |
| 2.40%, 07/15/31 (a) | 400,000 | 327,060 |
| 4.25%, 12/15/47 (a) | 300,000 | 250,959 |
| Masco Corp. | ||
| 2.00%, 10/01/30 (a) | 350,000 | 277,368 |
| 4.50%, 05/15/47 (a) | 300,000 | 256,968 |
| Mohawk Industries, Inc. | ||
| 3.63%, 05/15/30 (a) | 200,000 | 179,154 |
| Northrop Grumman Corp. | ||
| 3.25%, 08/01/23 | 250,000 | 250,010 |
| 2.93%, 01/15/25 (a) | 550,000 | 538,686 |
| 3.20%, 02/01/27 (a) | 300,000 | 288,513 |
| 3.25%, 01/15/28 (a) | 450,000 | 427,698 |
| 4.40%, 05/01/30 (a) | 300,000 | 300,003 |
| 5.15%, 05/01/40 (a) | 100,000 | 101,492 |
| 5.05%, 11/15/40 | 150,000 | 150,641 |
| 4.75%, 06/01/43 | 300,000 | 288,099 |
| 3.85%, 04/15/45 (a) | 200,000 | 169,460 |
| 4.03%, 10/15/47 (a) | 700,000 | 622,958 |
| 5.25%, 05/01/50 (a) | 300,000 | 318,306 |
| nVent Finance Sarl | ||
| 4.55%, 04/15/28 (a) | 200,000 | 193,736 |
| 2.75%, 11/15/31 (a) | 100,000 | 81,277 |
| Oshkosh Corp. | ||
| 3.10%, 03/01/30 (a) | 150,000 | 128,829 |
| Otis Worldwide Corp. | ||
| 2.06%, 04/05/25 (a) | 500,000 | 473,555 |
| 2.29%, 04/05/27 (a) | 200,000 | 181,742 |
| 2.57%, 02/15/30 (a) | 500,000 | 432,715 |
| 3.11%, 02/15/40 (a) | 50,000 | 38,850 |
| 3.36%, 02/15/50 (a) | 300,000 | 226,920 |
| Owens Corning | ||
| 3.40%, 08/15/26 (a) | 225,000 | 214,893 |
| 3.95%, 08/15/29 (a) | 150,000 | 139,184 |
| 3.88%, 06/01/30 (a) | 100,000 | 91,640 |
| 7.00%, 12/01/36 | 145,000 | 159,944 |
| 4.30%, 07/15/47 (a) | 200,000 | 164,252 |
| 4.40%, 01/30/48 (a) | 150,000 | 124,374 |
| Parker-Hannifin Corp. | ||
| 2.70%, 06/14/24 (a) | 200,000 | 195,604 |
| 3.65%, 06/15/24 | 400,000 | 397,468 |
| 3.25%, 03/01/27 (a) | 100,000 | 95,565 |
| 4.25%, 09/15/27 (a) | 400,000 | 398,024 |
| 3.25%, 06/14/29 (a) | 370,000 | 338,702 |
58
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.20%, 11/21/34 (a) | 150,000 | 140,145 |
| 6.25%, 05/15/38 | 150,000 | 164,489 |
| 4.45%, 11/21/44 (a) | 200,000 | 179,680 |
| 4.10%, 03/01/47 (a) | 150,000 | 128,325 |
| 4.00%, 06/14/49 (a) | 250,000 | 211,808 |
| Pentair Finance Sarl | ||
| 4.50%, 07/01/29 (a) | 150,000 | 143,871 |
| Precision Castparts Corp. | ||
| 3.25%, 06/15/25 (a) | 200,000 | 199,362 |
| 3.90%, 01/15/43 (a) | 250,000 | 222,502 |
| 4.38%, 06/15/45 (a) | 139,000 | 133,297 |
| Raytheon Technologies Corp. | ||
| 3.70%, 12/15/23 (a) | 200,000 | 200,902 |
| 3.20%, 03/15/24 (a) | 250,000 | 249,487 |
| 3.95%, 08/16/25 (a) | 500,000 | 502,330 |
| 2.65%, 11/01/26 (a) | 250,000 | 239,187 |
| 3.50%, 03/15/27 (a) | 200,000 | 195,524 |
| 3.13%, 05/04/27 (a) | 350,000 | 335,205 |
| 4.13%, 11/16/28 (a) | 900,000 | 889,596 |
| 7.50%, 09/15/29 | 250,000 | 297,392 |
| 2.25%, 07/01/30 (a) | 450,000 | 388,399 |
| 1.90%, 09/01/31 (a) | 350,000 | 287,199 |
| 5.40%, 05/01/35 | 250,000 | 266,082 |
| 6.05%, 06/01/36 | 100,000 | 113,244 |
| 6.13%, 07/15/38 | 200,000 | 226,230 |
| 4.45%, 11/16/38 (a) | 300,000 | 288,738 |
| 5.70%, 04/15/40 | 200,000 | 217,740 |
| 4.88%, 10/15/40 (c) | 150,000 | 149,175 |
| 4.70%, 12/15/41 | 200,000 | 192,818 |
| 4.50%, 06/01/42 | 1,000,000 | 953,880 |
| 4.80%, 12/15/43 (a) | 165,000 | 162,989 |
| 4.15%, 05/15/45 (a) | 425,000 | 379,601 |
| 3.75%, 11/01/46 (a) | 350,000 | 298,266 |
| 4.35%, 04/15/47 (a) | 350,000 | 324,992 |
| 4.05%, 05/04/47 (a) | 250,000 | 222,615 |
| 4.63%, 11/16/48 (a) | 350,000 | 342,195 |
| 3.13%, 07/01/50 (a) | 300,000 | 231,003 |
| 2.82%, 09/01/51 (a) | 350,000 | 251,107 |
| Republic Services, Inc. | ||
| 2.50%, 08/15/24 (a) | 350,000 | 339,416 |
| 0.88%, 11/15/25 (a) | 150,000 | 135,534 |
| 2.90%, 07/01/26 (a) | 200,000 | 191,180 |
| 3.38%, 11/15/27 (a) | 600,000 | 573,546 |
| 3.95%, 05/15/28 (a) | 75,000 | 73,821 |
| 2.30%, 03/01/30 (a) | 250,000 | 214,740 |
| 1.45%, 02/15/31 (a) | 250,000 | 196,685 |
| 1.75%, 02/15/32 (a) | 250,000 | 197,228 |
| 6.20%, 03/01/40 | 100,000 | 111,424 |
| 3.05%, 03/01/50 (a) | 150,000 | 111,854 |
| Rockwell Automation, Inc. | ||
| 3.50%, 03/01/29 (a) | 100,000 | 96,350 |
| 1.75%, 08/15/31 (a) | 200,000 | 163,926 |
| 4.20%, 03/01/49 (a) | 250,000 | 231,840 |
| 2.80%, 08/15/61 (a) | 150,000 | 99,423 |
| Roper Technologies, Inc. | ||
| 2.35%, 09/15/24 (a) | 150,000 | 145,604 |
| 1.00%, 09/15/25 (a) | 250,000 | 226,185 |
| 3.85%, 12/15/25 (a) | 300,000 | 298,314 |
| 3.80%, 12/15/26 (a) | 150,000 | 146,934 |
| 1.40%, 09/15/27 (a) | 350,000 | 300,104 |
| 4.20%, 09/15/28 (a) | 50,000 | 49,059 |
| 2.95%, 09/15/29 (a) | 400,000 | 353,156 |
| 2.00%, 06/30/30 (a) | 250,000 | 202,328 |
| 1.75%, 02/15/31 (a) | 250,000 | 195,093 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Snap-on, Inc. | ||
| 4.10%, 03/01/48 (a) | 100,000 | 91,557 |
| 3.10%, 05/01/50 (a) | 200,000 | 157,714 |
| Sonoco Products Co. | ||
| 1.80%, 02/01/25 (a) | 125,000 | 117,233 |
| 3.13%, 05/01/30 (a) | 400,000 | 350,628 |
| 2.85%, 02/01/32 (a) | 100,000 | 83,673 |
| 5.75%, 11/01/40 (a) | 130,000 | 133,228 |
| Stanley Black & Decker, Inc. | ||
| 2.30%, 02/24/25 (a) | 150,000 | 145,409 |
| 3.40%, 03/01/26 (a) | 100,000 | 98,461 |
| 4.25%, 11/15/28 (a) | 150,000 | 150,201 |
| 2.30%, 03/15/30 (a) | 350,000 | 301,049 |
| 5.20%, 09/01/40 | 109,000 | 111,472 |
| 4.85%, 11/15/48 (a) | 200,000 | 200,610 |
| 2.75%, 11/15/50 (a) | 250,000 | 172,785 |
| 4.00%, 03/15/60 (a)(b) | 350,000 | 305,795 |
| Teledyne Technologies, Inc. | ||
| 1.60%, 04/01/26 (a) | 250,000 | 224,512 |
| 2.75%, 04/01/31 (a) | 375,000 | 313,774 |
| Textron, Inc. | ||
| 4.30%, 03/01/24 (a) | 100,000 | 100,523 |
| 3.88%, 03/01/25 (a) | 100,000 | 99,563 |
| 4.00%, 03/15/26 (a) | 150,000 | 148,458 |
| 3.65%, 03/15/27 (a) | 200,000 | 193,858 |
| 3.38%, 03/01/28 (a) | 100,000 | 94,897 |
| 3.90%, 09/17/29 (a) | 200,000 | 188,970 |
| 2.45%, 03/15/31 (a) | 150,000 | 123,410 |
| Timken Co. | ||
| 3.88%, 09/01/24 (a) | 150,000 | 148,806 |
| 4.50%, 12/15/28 (a) | 150,000 | 147,597 |
| Trane Technologies Global Holding Co., Ltd. | ||
| 3.75%, 08/21/28 (a) | 300,000 | 284,073 |
| 5.75%, 06/15/43 | 200,000 | 208,084 |
| 4.30%, 02/21/48 (a) | 150,000 | 133,200 |
| Trane Technologies Luxembourg Finance S.A. | ||
| 3.80%, 03/21/29 (a) | 200,000 | 187,894 |
| 4.65%, 11/01/44 (a) | 100,000 | 90,929 |
| United Rentals North America, Inc. | ||
| 3.88%, 11/15/27 (a) | 300,000 | 279,204 |
| Valmont Industries, Inc. | ||
| 5.00%, 10/01/44 (a) | 180,000 | 167,312 |
| 5.25%, 10/01/54 (a) | 100,000 | 97,092 |
| Vontier Corp. | ||
| 1.80%, 04/01/26 (a) | 200,000 | 175,536 |
| 2.40%, 04/01/28 (a) | 200,000 | 167,084 |
| 2.95%, 04/01/31 (a) | 225,000 | 176,002 |
| Vulcan Materials Co. | ||
| 3.90%, 04/01/27 (a) | 200,000 | 197,222 |
| 3.50%, 06/01/30 (a) | 250,000 | 225,742 |
| 4.50%, 06/15/47 (a) | 250,000 | 222,897 |
| 4.70%, 03/01/48 (a) | 150,000 | 137,900 |
| Waste Connections, Inc. | ||
| 4.25%, 12/01/28 (a) | 200,000 | 197,598 |
| 3.50%, 05/01/29 (a) | 209,000 | 196,880 |
| 2.60%, 02/01/30 (a) | 250,000 | 218,895 |
| 2.20%, 01/15/32 (a) | 200,000 | 164,402 |
| 3.20%, 06/01/32 (a) | 250,000 | 223,022 |
| 2.95%, 01/15/52 (a) | 300,000 | 216,294 |
| Waste Management, Inc. | ||
| 0.75%, 11/15/25 (a) | 300,000 | 273,528 |
| 3.15%, 11/15/27 (a) | 300,000 | 288,126 |
| 1.15%, 03/15/28 (a) | 250,000 | 213,060 |
| 1.50%, 03/15/31 (a) | 50,000 | 39,876 |
| 4.10%, 03/01/45 (a) | 250,000 | 225,795 |
59
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.15%, 07/15/49 (a) | 300,000 | 275,529 |
| 2.50%, 11/15/50 (a) | 300,000 | 205,629 |
| Westinghouse Air Brake Technologies Corp. | ||
| 4.40%, 03/15/24 (a)(f) | 300,000 | 299,514 |
| 3.20%, 06/15/25 (a) | 200,000 | 191,044 |
| 3.45%, 11/15/26 (a) | 125,000 | 114,899 |
| 4.95%, 09/15/28 (a)(f) | 450,000 | 433,192 |
| WW Grainger, Inc. | ||
| 1.85%, 02/15/25 (a) | 300,000 | 286,005 |
| 4.60%, 06/15/45 (a) | 150,000 | 143,688 |
| 4.20%, 05/15/47 (a) | 350,000 | 321,881 |
| Xylem, Inc. | ||
| 3.25%, 11/01/26 (a) | 185,000 | 179,060 |
| 1.95%, 01/30/28 (a) | 100,000 | 88,541 |
| 2.25%, 01/30/31 (a) | 250,000 | 208,485 |
| 4.38%, 11/01/46 (a) | 145,000 | 132,102 |
| 97,642,362 | ||
| Communications 2.1% | ||
| Activision Blizzard, Inc. | ||
| 3.40%, 09/15/26 (a) | 300,000 | 295,269 |
| 3.40%, 06/15/27 (a) | 150,000 | 145,811 |
| 1.35%, 09/15/30 (a) | 175,000 | 140,623 |
| 4.50%, 06/15/47 (a) | 78,000 | 75,746 |
| 2.50%, 09/15/50 (a) | 500,000 | 343,640 |
| America Movil S.A.B. de C.V. | ||
| 3.63%, 04/22/29 (a) | 300,000 | 285,876 |
| 2.88%, 05/07/30 (a) | 350,000 | 313,656 |
| 6.38%, 03/01/35 | 350,000 | 399,994 |
| 6.13%, 11/15/37 | 150,000 | 163,326 |
| 6.13%, 03/30/40 | 600,000 | 665,820 |
| 4.38%, 07/16/42 | 300,000 | 273,660 |
| 4.38%, 04/22/49 (a) | 350,000 | 328,030 |
| American Tower Corp. | ||
| 5.00%, 02/15/24 | 350,000 | 354,473 |
| 3.38%, 05/15/24 (a) | 250,000 | 246,398 |
| 2.95%, 01/15/25 (a) | 280,000 | 270,483 |
| 2.40%, 03/15/25 (a) | 350,000 | 330,904 |
| 4.00%, 06/01/25 (a) | 100,000 | 98,979 |
| 4.40%, 02/15/26 (a) | 100,000 | 99,581 |
| 1.60%, 04/15/26 (a) | 350,000 | 313,841 |
| 3.38%, 10/15/26 (a) | 250,000 | 236,600 |
| 2.75%, 01/15/27 (a) | 65,000 | 59,456 |
| 3.13%, 01/15/27 (a) | 150,000 | 139,314 |
| 3.65%, 03/15/27 (a) | 250,000 | 238,035 |
| 3.55%, 07/15/27 (a) | 450,000 | 422,707 |
| 3.60%, 01/15/28 (a) | 300,000 | 279,177 |
| 1.50%, 01/31/28 (a) | 250,000 | 208,163 |
| 3.95%, 03/15/29 (a) | 350,000 | 326,322 |
| 3.80%, 08/15/29 (a) | 650,000 | 597,265 |
| 2.90%, 01/15/30 (a) | 150,000 | 128,181 |
| 1.88%, 10/15/30 (a) | 250,000 | 195,118 |
| 2.30%, 09/15/31 (a) | 200,000 | 158,626 |
| 4.05%, 03/15/32 (a) | 250,000 | 227,855 |
| 3.70%, 10/15/49 (a) | 300,000 | 226,968 |
| 3.10%, 06/15/50 (a) | 375,000 | 260,059 |
| 2.95%, 01/15/51 (a) | 250,000 | 168,955 |
| AT&T, Inc. | ||
| 0.90%, 03/25/24 (a) | 350,000 | 334,509 |
| 3.88%, 01/15/26 (a) | 100,000 | 100,035 |
| 1.70%, 03/25/26 (a) | 900,000 | 823,392 |
| 2.95%, 07/15/26 (a) | 150,000 | 143,651 |
| 3.80%, 02/15/27 (a) | 250,000 | 245,618 |
| 4.25%, 03/01/27 (a) | 500,000 | 499,395 |
| 2.30%, 06/01/27 (a) | 800,000 | 730,888 |
| 1.65%, 02/01/28 (a) | 550,000 | 475,513 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.10%, 02/15/28 (a) | 550,000 | 540,463 |
| 4.35%, 03/01/29 (a) | 950,000 | 936,424 |
| 4.30%, 02/15/30 (a) | 950,000 | 927,988 |
| 2.75%, 06/01/31 (a) | 1,050,000 | 908,365 |
| 2.25%, 02/01/32 (a) | 800,000 | 653,832 |
| 2.55%, 12/01/33 (a) | 1,281,000 | 1,039,877 |
| 4.50%, 05/15/35 (a) | 800,000 | 759,256 |
| 5.25%, 03/01/37 (a) | 550,000 | 570,009 |
| 4.90%, 08/15/37 (a) | 129,000 | 128,469 |
| 4.85%, 03/01/39 (a) | 340,000 | 325,655 |
| 5.35%, 09/01/40 | 250,000 | 247,085 |
| 3.50%, 06/01/41 (a) | 800,000 | 640,824 |
| 4.30%, 12/15/42 (a) | 400,000 | 349,028 |
| 3.10%, 02/01/43 (a) | 300,000 | 223,809 |
| 4.65%, 06/01/44 (a) | 150,000 | 137,394 |
| 4.35%, 06/15/45 (a) | 400,000 | 349,680 |
| 4.75%, 05/15/46 (a) | 600,000 | 556,848 |
| 5.15%, 11/15/46 (a) | 300,000 | 297,618 |
| 5.65%, 02/15/47 (a) | 300,000 | 323,277 |
| 5.45%, 03/01/47 (a) | 228,000 | 238,050 |
| 4.50%, 03/09/48 (a) | 500,000 | 445,815 |
| 4.55%, 03/09/49 (a) | 309,000 | 281,867 |
| 5.15%, 02/15/50 (a) | 200,000 | 199,074 |
| 3.65%, 06/01/51 (a) | 975,000 | 762,879 |
| 3.30%, 02/01/52 (a) | 400,000 | 294,908 |
| 3.50%, 09/15/53 (a) | 2,315,000 | 1,759,215 |
| 3.55%, 09/15/55 (a) | 2,350,000 | 1,764,521 |
| 3.80%, 12/01/57 (a) | 1,825,000 | 1,416,912 |
| 3.65%, 09/15/59 (a) | 2,044,000 | 1,533,531 |
| 3.85%, 06/01/60 (a) | 400,000 | 310,596 |
| 3.50%, 02/01/61 (a) | 100,000 | 72,745 |
| Bell Canada | ||
| 0.75%, 03/17/24 | 250,000 | 238,298 |
| 4.46%, 04/01/48 (a) | 550,000 | 504,234 |
| 4.30%, 07/29/49 (a) | 50,000 | 44,817 |
| 3.20%, 02/15/52 (a) | 300,000 | 222,198 |
| 3.65%, 08/15/52 (a) | 250,000 | 200,255 |
| British Telecommunications PLC | ||
| 4.50%, 12/04/23 (a) | 250,000 | 251,428 |
| 5.13%, 12/04/28 (a) | 1,050,000 | 1,050,357 |
| 9.63%, 12/15/30 (f) | 150,000 | 186,915 |
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||
| 4.50%, 02/01/24 (a) | 250,000 | 251,690 |
| 4.91%, 07/23/25 (a) | 1,450,000 | 1,454,263 |
| 3.75%, 02/15/28 (a) | 375,000 | 345,709 |
| 4.20%, 03/15/28 (a) | 250,000 | 233,783 |
| 2.25%, 01/15/29 (a) | 200,000 | 164,824 |
| 5.05%, 03/30/29 (a) | 500,000 | 482,755 |
| 2.80%, 04/01/31 (a) | 500,000 | 400,935 |
| 2.30%, 02/01/32 (a) | 300,000 | 227,985 |
| 4.40%, 04/01/33 (a) | 150,000 | 134,474 |
| 6.38%, 10/23/35 (a) | 700,000 | 707,238 |
| 5.38%, 04/01/38 (a) | 300,000 | 267,567 |
| 3.50%, 06/01/41 (a) | 300,000 | 211,731 |
| 3.50%, 03/01/42 (a) | 450,000 | 313,740 |
| 6.48%, 10/23/45 (a) | 1,150,000 | 1,121,940 |
| 5.38%, 05/01/47 (a) | 800,000 | 686,712 |
| 5.75%, 04/01/48 (a) | 800,000 | 720,552 |
| 5.13%, 07/01/49 (a) | 400,000 | 334,580 |
| 4.80%, 03/01/50 (a) | 900,000 | 713,889 |
| 3.70%, 04/01/51 (a) | 550,000 | 374,561 |
| 3.90%, 06/01/52 (a) | 750,000 | 525,202 |
| 5.25%, 04/01/53 (a) | 400,000 | 341,444 |
| 6.83%, 10/23/55 (a) | 150,000 | 152,196 |
| 3.85%, 04/01/61 (a) | 600,000 | 395,598 |
| 4.40%, 12/01/61 (a) | 200,000 | 144,934 |
60
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.95%, 06/30/62 (a) | 450,000 | 300,942 |
| 5.50%, 04/01/63 (a) | 300,000 | 256,200 |
| Comcast Corp. | ||
| 3.70%, 04/15/24 (a) | 850,000 | 852,737 |
| 3.38%, 02/15/25 (a) | 200,000 | 198,624 |
| 3.38%, 08/15/25 (a) | 500,000 | 494,370 |
| 3.95%, 10/15/25 (a) | 1,000,000 | 1,005,360 |
| 3.15%, 03/01/26 (a) | 700,000 | 683,046 |
| 2.35%, 01/15/27 (a) | 450,000 | 420,025 |
| 3.30%, 02/01/27 (a) | 430,000 | 418,321 |
| 3.15%, 02/15/28 (a) | 550,000 | 524,419 |
| 3.55%, 05/01/28 (a) | 292,000 | 283,488 |
| 4.15%, 10/15/28 (a) | 1,250,000 | 1,247,637 |
| 2.65%, 02/01/30 (a) | 500,000 | 447,110 |
| 3.40%, 04/01/30 (a) | 500,000 | 469,100 |
| 4.25%, 10/15/30 (a) | 500,000 | 493,385 |
| 1.95%, 01/15/31 (a) | 500,000 | 416,110 |
| 1.50%, 02/15/31 (a) | 350,000 | 281,533 |
| 4.25%, 01/15/33 | 500,000 | 492,010 |
| 7.05%, 03/15/33 | 250,000 | 300,717 |
| 4.20%, 08/15/34 (a) | 350,000 | 338,072 |
| 5.65%, 06/15/35 | 150,000 | 164,055 |
| 4.40%, 08/15/35 (a) | 230,000 | 223,645 |
| 6.50%, 11/15/35 | 250,000 | 291,792 |
| 3.20%, 07/15/36 (a) | 350,000 | 298,196 |
| 3.90%, 03/01/38 (a) | 450,000 | 408,663 |
| 4.60%, 10/15/38 (a) | 300,000 | 291,822 |
| 3.25%, 11/01/39 (a) | 400,000 | 329,072 |
| 3.75%, 04/01/40 (a) | 450,000 | 395,424 |
| 4.65%, 07/15/42 | 150,000 | 145,715 |
| 4.75%, 03/01/44 | 200,000 | 194,558 |
| 4.60%, 08/15/45 (a) | 250,000 | 239,523 |
| 3.40%, 07/15/46 (a) | 400,000 | 320,980 |
| 4.00%, 08/15/47 (a) | 266,000 | 231,883 |
| 3.97%, 11/01/47 (a) | 648,000 | 561,311 |
| 4.00%, 03/01/48 (a) | 350,000 | 305,980 |
| 4.70%, 10/15/48 (a) | 600,000 | 584,088 |
| 4.00%, 11/01/49 (a) | 600,000 | 524,304 |
| 3.45%, 02/01/50 (a) | 600,000 | 478,650 |
| 2.80%, 01/15/51 (a) | 500,000 | 354,060 |
| 2.89%, 11/01/51 (a) | 1,483,000 | 1,060,968 |
| 2.45%, 08/15/52 (a) | 550,000 | 366,602 |
| 4.05%, 11/01/52 (a) | 278,000 | 243,942 |
| 2.94%, 11/01/56 (a) | 1,863,000 | 1,295,605 |
| 4.95%, 10/15/58 (a) | 300,000 | 300,606 |
| 2.65%, 08/15/62 (a) | 450,000 | 290,880 |
| 2.99%, 11/01/63 (a) | 1,290,000 | 882,270 |
| Crown Castle International Corp. | ||
| 3.15%, 07/15/23 (a) | 50,000 | 49,448 |
| 3.20%, 09/01/24 (a) | 350,000 | 342,937 |
| 1.35%, 07/15/25 (a) | 200,000 | 182,846 |
| 4.45%, 02/15/26 (a) | 300,000 | 297,435 |
| 3.70%, 06/15/26 (a) | 250,000 | 241,658 |
| 1.05%, 07/15/26 (a) | 100,000 | 86,789 |
| 4.00%, 03/01/27 (a) | 200,000 | 194,298 |
| 2.90%, 03/15/27 (a) | 250,000 | 231,530 |
| 3.65%, 09/01/27 (a) | 300,000 | 283,914 |
| 3.80%, 02/15/28 (a) | 350,000 | 330,529 |
| 3.10%, 11/15/29 (a) | 200,000 | 176,550 |
| 3.30%, 07/01/30 (a) | 300,000 | 265,194 |
| 2.25%, 01/15/31 (a) | 400,000 | 324,828 |
| 2.10%, 04/01/31 (a) | 375,000 | 298,069 |
| 2.50%, 07/15/31 (a) | 250,000 | 205,478 |
| 2.90%, 04/01/41 (a) | 300,000 | 217,575 |
| 4.75%, 05/15/47 (a) | 125,000 | 113,414 |
| 5.20%, 02/15/49 (a) | 100,000 | 96,483 |
| 4.00%, 11/15/49 (a) | 50,000 | 40,530 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.15%, 07/01/50 (a) | 150,000 | 124,739 |
| 3.25%, 01/15/51 (a) | 300,000 | 216,075 |
| Deutsche Telekom International Finance BV | ||
| 8.75%, 06/15/30 (f) | 1,100,000 | 1,361,129 |
| 9.25%, 06/01/32 | 150,000 | 199,565 |
| Discovery Communications LLC | ||
| 3.90%, 11/15/24 (a) | 200,000 | 197,066 |
| 3.45%, 03/15/25 (a) | 250,000 | 241,920 |
| 4.90%, 03/11/26 (a) | 100,000 | 100,274 |
| 3.95%, 03/20/28 (a) | 550,000 | 515,130 |
| 4.13%, 05/15/29 (a) | 250,000 | 230,540 |
| 3.63%, 05/15/30 (a) | 250,000 | 222,720 |
| 5.00%, 09/20/37 (a) | 200,000 | 180,424 |
| 6.35%, 06/01/40 | 200,000 | 198,232 |
| 4.88%, 04/01/43 | 175,000 | 145,875 |
| 5.20%, 09/20/47 (a) | 400,000 | 343,284 |
| 5.30%, 05/15/49 (a) | 200,000 | 174,158 |
| 4.65%, 05/15/50 (a) | 300,000 | 236,394 |
| 4.00%, 09/15/55 (a) | 539,000 | 377,667 |
| Electronic Arts, Inc. | ||
| 4.80%, 03/01/26 (a) | 75,000 | 76,745 |
| 1.85%, 02/15/31 (a) | 250,000 | 203,410 |
| 2.95%, 02/15/51 (a) | 250,000 | 183,560 |
| Fox Corp. | ||
| 4.03%, 01/25/24 (a) | 250,000 | 250,040 |
| 3.05%, 04/07/25 (a) | 250,000 | 242,458 |
| 4.71%, 01/25/29 (a) | 650,000 | 638,397 |
| 3.50%, 04/08/30 (a) | 300,000 | 272,682 |
| 5.48%, 01/25/39 (a) | 350,000 | 340,781 |
| 5.58%, 01/25/49 (a) | 450,000 | 439,128 |
| Grupo Televisa S.A.B. | ||
| 6.63%, 03/18/25 | 278,000 | 293,568 |
| 8.50%, 03/11/32 | 50,000 | 62,050 |
| 6.63%, 01/15/40 | 200,000 | 216,794 |
| 5.00%, 05/13/45 (a) | 400,000 | 372,432 |
| 6.13%, 01/31/46 (a) | 250,000 | 276,115 |
| 5.25%, 05/24/49 (a) | 200,000 | 197,948 |
| Interpublic Group of Cos., Inc. | ||
| 4.75%, 03/30/30 (a) | 300,000 | 295,266 |
| 2.40%, 03/01/31 (a) | 200,000 | 162,492 |
| 5.40%, 10/01/48 (a) | 150,000 | 147,260 |
| Koninklijke KPN N.V. | ||
| 8.38%, 10/01/30 | 190,000 | 227,888 |
| Magallanes, Inc. | ||
| 3.43%, 03/15/24 (c) | 500,000 | 490,210 |
| 3.64%, 03/15/25 (c) | 500,000 | 485,470 |
| 3.76%, 03/15/27 (a)(c) | 1,250,000 | 1,173,512 |
| 4.05%, 03/15/29 (a)(c) | 500,000 | 459,000 |
| 4.28%, 03/15/32 (a)(c) | 1,500,000 | 1,340,970 |
| 5.05%, 03/15/42 (a)(c) | 1,400,000 | 1,192,002 |
| 5.14%, 03/15/52 (a)(c) | 2,000,000 | 1,681,660 |
| 5.39%, 03/15/62 (a)(c) | 925,000 | 776,833 |
| NBCUniversal Media LLC | ||
| 5.95%, 04/01/41 | 200,000 | 223,898 |
| 4.45%, 01/15/43 | 200,000 | 186,726 |
| Omnicom Group, Inc. | ||
| 2.45%, 04/30/30 (a) | 300,000 | 253,452 |
| 4.20%, 06/01/30 (a) | 200,000 | 191,356 |
| Omnicom Group, Inc./Omnicom Capital, Inc. | ||
| 3.65%, 11/01/24 (a) | 250,000 | 248,158 |
| 3.60%, 04/15/26 (a) | 500,000 | 486,550 |
| Orange S.A. | ||
| 9.00%, 03/01/31 | 800,000 | 1,033,536 |
| 5.38%, 01/13/42 | 250,000 | 258,795 |
| 5.50%, 02/06/44 (a) | 250,000 | 264,338 |
61
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Rogers Communications, Inc. | ||
| 4.10%, 10/01/23 (a) | 250,000 | 251,375 |
| 2.95%, 03/15/25 (a)(c) | 300,000 | 290,226 |
| 3.63%, 12/15/25 (a) | 270,000 | 264,530 |
| 2.90%, 11/15/26 (a) | 100,000 | 94,588 |
| 3.20%, 03/15/27 (a)(c) | 400,000 | 379,844 |
| 3.80%, 03/15/32 (a)(c) | 500,000 | 458,615 |
| 4.50%, 03/15/42 (a)(c) | 250,000 | 223,068 |
| 4.50%, 03/15/43 (a) | 225,000 | 193,802 |
| 5.45%, 10/01/43 (a) | 250,000 | 248,345 |
| 5.00%, 03/15/44 (a) | 350,000 | 326,620 |
| 4.30%, 02/15/48 (a) | 150,000 | 125,805 |
| 4.35%, 05/01/49 (a) | 450,000 | 383,724 |
| 3.70%, 11/15/49 (a) | 350,000 | 266,956 |
| 4.55%, 03/15/52 (a)(c) | 600,000 | 530,628 |
| Take-Two Interactive Software, Inc. | ||
| 3.30%, 03/28/24 | 300,000 | 296,325 |
| 3.55%, 04/14/25 | 200,000 | 196,986 |
| 3.70%, 04/14/27 (a) | 200,000 | 194,268 |
| TCI Communications, Inc. | ||
| 7.88%, 02/15/26 | 100,000 | 112,482 |
| 7.13%, 02/15/28 | 150,000 | 169,796 |
| Telefonica Emisiones S.A. | ||
| 4.10%, 03/08/27 | 350,000 | 343,147 |
| 7.05%, 06/20/36 | 650,000 | 734,831 |
| 4.67%, 03/06/38 | 250,000 | 222,885 |
| 5.21%, 03/08/47 | 650,000 | 580,047 |
| 4.90%, 03/06/48 | 400,000 | 342,764 |
| 5.52%, 03/01/49 (a) | 400,000 | 371,916 |
| Telefonica Europe BV | ||
| 8.25%, 09/15/30 | 350,000 | 419,349 |
| TELUS Corp. | ||
| 2.80%, 02/16/27 (a) | 200,000 | 190,616 |
| 3.70%, 09/15/27 (a) | 150,000 | 147,848 |
| 3.40%, 05/13/32 (a) | 300,000 | 269,886 |
| 4.60%, 11/16/48 (a) | 200,000 | 187,740 |
| 4.30%, 06/15/49 (a) | 200,000 | 180,014 |
| Time Warner Cable LLC | ||
| 6.55%, 05/01/37 | 500,000 | 502,700 |
| 7.30%, 07/01/38 | 500,000 | 524,300 |
| 6.75%, 06/15/39 | 500,000 | 501,025 |
| 5.88%, 11/15/40 (a) | 250,000 | 230,463 |
| 5.50%, 09/01/41 (a) | 350,000 | 308,623 |
| 4.50%, 09/15/42 (a) | 400,000 | 314,748 |
| Time Warner Entertainment Co. LP | ||
| 8.38%, 07/15/33 | 300,000 | 346,911 |
| T-Mobile USA, Inc. | ||
| 3.50%, 04/15/25 (a) | 950,000 | 930,582 |
| 1.50%, 02/15/26 (a) | 350,000 | 316,893 |
| 3.75%, 04/15/27 (a) | 1,200,000 | 1,154,772 |
| 2.05%, 02/15/28 (a) | 700,000 | 609,175 |
| 2.40%, 03/15/29 (a) | 200,000 | 173,026 |
| 3.88%, 04/15/30 (a) | 2,150,000 | 2,008,014 |
| 2.55%, 02/15/31 (a) | 750,000 | 631,522 |
| 2.25%, 11/15/31 (a) | 250,000 | 203,205 |
| 4.38%, 04/15/40 (a) | 700,000 | 628,453 |
| 3.00%, 02/15/41 (a) | 600,000 | 446,076 |
| 4.50%, 04/15/50 (a) | 925,000 | 822,908 |
| 3.30%, 02/15/51 (a) | 950,000 | 693,899 |
| 3.40%, 10/15/52 (a) | 900,000 | 666,650 |
| 3.60%, 11/15/60 (c) | 250,000 | 183,898 |
| 3.60%, 11/15/60 (a) | 350,000 | 256,284 |
| TWDC Enterprises 18 Corp. | ||
| 3.15%, 09/17/25 | 200,000 | 196,976 |
| 3.00%, 02/13/26 | 450,000 | 438,111 |
| 1.85%, 07/30/26 | 400,000 | 369,932 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 7.00%, 03/01/32 | 250,000 | 297,440 |
| 4.38%, 08/16/41 | 150,000 | 141,156 |
| 4.13%, 12/01/41 | 200,000 | 183,202 |
| 4.13%, 06/01/44 | 350,000 | 318,566 |
| 3.00%, 07/30/46 | 150,000 | 115,484 |
| Verizon Communications, Inc. | ||
| 0.75%, 03/22/24 | 300,000 | 286,215 |
| 3.50%, 11/01/24 (a) | 358,000 | 357,613 |
| 3.38%, 02/15/25 | 450,000 | 447,259 |
| 0.85%, 11/20/25 (a) | 400,000 | 362,948 |
| 1.45%, 03/20/26 (a) | 600,000 | 549,618 |
| 2.63%, 08/15/26 | 575,000 | 543,915 |
| 4.13%, 03/16/27 | 950,000 | 948,280 |
| 3.00%, 03/22/27 (a) | 250,000 | 237,800 |
| 2.10%, 03/22/28 (a) | 950,000 | 844,141 |
| 4.33%, 09/21/28 | 1,250,000 | 1,244,475 |
| 3.88%, 02/08/29 (a) | 350,000 | 338,880 |
| 4.02%, 12/03/29 (a) | 1,157,000 | 1,123,192 |
| 3.15%, 03/22/30 (a) | 500,000 | 454,900 |
| 1.50%, 09/18/30 (a) | 300,000 | 240,189 |
| 1.68%, 10/30/30 (a) | 418,000 | 336,753 |
| 7.75%, 12/01/30 | 250,000 | 301,785 |
| 1.75%, 01/20/31 (a) | 700,000 | 562,898 |
| 2.55%, 03/21/31 (a) | 1,300,000 | 1,112,930 |
| 2.36%, 03/15/32 (a) | 1,290,000 | 1,070,790 |
| 4.50%, 08/10/33 | 700,000 | 683,746 |
| 4.40%, 11/01/34 (a) | 650,000 | 624,325 |
| 4.27%, 01/15/36 | 700,000 | 661,353 |
| 5.25%, 03/16/37 | 500,000 | 518,160 |
| 4.81%, 03/15/39 | 400,000 | 394,888 |
| 2.65%, 11/20/40 (a) | 750,000 | 550,395 |
| 3.40%, 03/22/41 (a) | 1,000,000 | 815,160 |
| 3.85%, 11/01/42 (a) | 406,000 | 345,563 |
| 6.55%, 09/15/43 | 200,000 | 243,872 |
| 4.13%, 08/15/46 | 400,000 | 358,332 |
| 4.86%, 08/21/46 | 750,000 | 740,722 |
| 4.52%, 09/15/48 | 400,000 | 380,212 |
| 4.00%, 03/22/50 (a) | 450,000 | 389,002 |
| 2.88%, 11/20/50 (a) | 900,000 | 639,342 |
| 3.55%, 03/22/51 (a) | 1,550,000 | 1,243,301 |
| 3.88%, 03/01/52 (a) | 250,000 | 211,213 |
| 5.01%, 08/21/54 | 250,000 | 257,350 |
| 4.67%, 03/15/55 | 225,000 | 217,526 |
| 2.99%, 10/30/56 (a) | 1,000,000 | 696,530 |
| 3.00%, 11/20/60 (a) | 750,000 | 511,807 |
| 3.70%, 03/22/61 (a) | 1,000,000 | 786,610 |
| ViacomCBS, Inc. | ||
| 4.75%, 05/15/25 (a) | 222,000 | 224,398 |
| 2.90%, 01/15/27 (a) | 400,000 | 368,692 |
| 3.38%, 02/15/28 (a) | 250,000 | 229,845 |
| 3.70%, 06/01/28 (a) | 150,000 | 140,016 |
| 4.20%, 06/01/29 (a) | 289,000 | 272,510 |
| 4.95%, 01/15/31 (a) | 250,000 | 238,300 |
| 4.20%, 05/19/32 (a) | 325,000 | 288,434 |
| 5.50%, 05/15/33 | 100,000 | 97,549 |
| 6.88%, 04/30/36 | 400,000 | 417,884 |
| 5.90%, 10/15/40 (a) | 50,000 | 47,218 |
| 4.85%, 07/01/42 (a) | 200,000 | 167,580 |
| 4.38%, 03/15/43 | 450,000 | 348,876 |
| 5.85%, 09/01/43 (a) | 300,000 | 281,067 |
| 5.25%, 04/01/44 (a) | 150,000 | 129,125 |
| 4.90%, 08/15/44 (a) | 150,000 | 122,124 |
| 4.60%, 01/15/45 (a) | 150,000 | 118,992 |
| 4.95%, 05/19/50 (a) | 325,000 | 274,606 |
| Vodafone Group PLC | ||
| 3.75%, 01/16/24 | 200,000 | 200,982 |
| 4.13%, 05/30/25 | 475,000 | 477,066 |
62
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.38%, 05/30/28 | 950,000 | 945,088 |
| 7.88%, 02/15/30 | 300,000 | 353,946 |
| 6.25%, 11/30/32 | 100,000 | 109,612 |
| 6.15%, 02/27/37 | 530,000 | 572,866 |
| 5.00%, 05/30/38 | 250,000 | 240,225 |
| 4.38%, 02/19/43 | 450,000 | 391,860 |
| 5.25%, 05/30/48 | 925,000 | 880,387 |
| 4.88%, 06/19/49 | 550,000 | 506,104 |
| 4.25%, 09/17/50 | 475,000 | 398,050 |
| 5.13%, 06/19/59 | 150,000 | 139,467 |
| Walt Disney Co. | ||
| 1.75%, 08/30/24 (a) | 350,000 | 337,330 |
| 3.70%, 09/15/24 (a) | 300,000 | 300,654 |
| 3.35%, 03/24/25 | 500,000 | 496,300 |
| 3.70%, 10/15/25 (a) | 250,000 | 250,163 |
| 1.75%, 01/13/26 | 500,000 | 466,335 |
| 3.38%, 11/15/26 (a) | 350,000 | 342,552 |
| 3.70%, 03/23/27 | 200,000 | 198,094 |
| 2.20%, 01/13/28 | 350,000 | 317,485 |
| 2.00%, 09/01/29 (a) | 375,000 | 322,612 |
| 3.80%, 03/22/30 | 200,000 | 193,300 |
| 2.65%, 01/13/31 | 800,000 | 704,672 |
| 6.20%, 12/15/34 | 400,000 | 456,448 |
| 6.40%, 12/15/35 | 250,000 | 291,728 |
| 6.15%, 03/01/37 | 100,000 | 113,490 |
| 6.65%, 11/15/37 | 450,000 | 537,516 |
| 4.63%, 03/23/40 (a) | 250,000 | 245,648 |
| 3.50%, 05/13/40 (a) | 550,000 | 469,887 |
| 6.15%, 02/15/41 | 150,000 | 172,388 |
| 4.75%, 09/15/44 (a) | 190,000 | 186,044 |
| 4.95%, 10/15/45 (a) | 185,000 | 185,553 |
| 4.75%, 11/15/46 (a) | 200,000 | 197,474 |
| 2.75%, 09/01/49 (a) | 650,000 | 467,681 |
| 4.70%, 03/23/50 (a) | 550,000 | 546,084 |
| 3.60%, 01/13/51 (a) | 850,000 | 710,498 |
| 3.80%, 05/13/60 (a) | 550,000 | 460,597 |
| Weibo Corp. | ||
| 3.50%, 07/05/24 (a) | 250,000 | 243,470 |
| 3.38%, 07/08/30 (a) | 350,000 | 288,481 |
| WPP Finance 2010 | ||
| 3.75%, 09/19/24 | 300,000 | 293,454 |
| 155,099,524 | ||
| Consumer Cyclical 1.6% | ||
| Advance Auto Parts, Inc. | ||
| 1.75%, 10/01/27 (a) | 150,000 | 127,368 |
| 3.90%, 04/15/30 (a) | 200,000 | 182,466 |
| 3.50%, 03/15/32 (a) | 100,000 | 85,834 |
| Alibaba Group Holding Ltd. | ||
| 3.60%, 11/28/24 (a) | 700,000 | 696,080 |
| 3.40%, 12/06/27 (a) | 750,000 | 717,112 |
| 2.13%, 02/09/31 (a) | 450,000 | 373,095 |
| 4.50%, 11/28/34 (a) | 250,000 | 234,375 |
| 4.00%, 12/06/37 (a) | 350,000 | 303,135 |
| 2.70%, 02/09/41 (a) | 250,000 | 173,443 |
| 4.20%, 12/06/47 (a) | 550,000 | 456,962 |
| 3.15%, 02/09/51 (a) | 500,000 | 343,325 |
| 4.40%, 12/06/57 (a) | 300,000 | 247,779 |
| 3.25%, 02/09/61 (a) | 300,000 | 200,940 |
| Amazon.com, Inc. | ||
| 2.73%, 04/13/24 | 400,000 | 397,752 |
| 0.45%, 05/12/24 | 850,000 | 809,353 |
| 2.80%, 08/22/24 (a) | 700,000 | 694,085 |
| 3.80%, 12/05/24 (a) | 450,000 | 455,688 |
| 3.00%, 04/13/25 | 400,000 | 397,516 |
| 0.80%, 06/03/25 (a) | 250,000 | 232,718 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.20%, 12/03/25 (a) | 400,000 | 420,160 |
| 1.00%, 05/12/26 (a) | 1,000,000 | 910,130 |
| 3.30%, 04/13/27 (a) | 600,000 | 589,098 |
| 1.20%, 06/03/27 (a) | 100,000 | 89,069 |
| 3.15%, 08/22/27 (a) | 600,000 | 584,676 |
| 1.65%, 05/12/28 (a) | 850,000 | 754,834 |
| 3.45%, 04/13/29 (a) | 400,000 | 389,916 |
| 1.50%, 06/03/30 (a) | 700,000 | 583,191 |
| 2.10%, 05/12/31 (a) | 400,000 | 343,000 |
| 3.60%, 04/13/32 (a) | 700,000 | 675,073 |
| 4.80%, 12/05/34 (a) | 550,000 | 577,753 |
| 3.88%, 08/22/37 (a) | 925,000 | 876,040 |
| 2.88%, 05/12/41 (a) | 650,000 | 521,651 |
| 4.95%, 12/05/44 (a) | 400,000 | 421,820 |
| 4.05%, 08/22/47 (a) | 1,100,000 | 1,036,101 |
| 2.50%, 06/03/50 (a) | 600,000 | 426,186 |
| 3.10%, 05/12/51 (a) | 1,000,000 | 789,800 |
| 3.95%, 04/13/52 (a) | 700,000 | 645,701 |
| 4.25%, 08/22/57 (a) | 700,000 | 658,385 |
| 2.70%, 06/03/60 (a) | 650,000 | 440,927 |
| 3.25%, 05/12/61 (a) | 550,000 | 420,469 |
| 4.10%, 04/13/62 (a) | 300,000 | 271,848 |
| American Honda Finance Corp. | ||
| 0.88%, 07/07/23 | 300,000 | 292,734 |
| 3.45%, 07/14/23 | 100,000 | 100,101 |
| 0.65%, 09/08/23 | 200,000 | 194,086 |
| 3.55%, 01/12/24 | 450,000 | 450,859 |
| 2.90%, 02/16/24 | 500,000 | 495,515 |
| 2.40%, 06/27/24 | 500,000 | 489,125 |
| 0.55%, 07/12/24 | 650,000 | 611,851 |
| 2.15%, 09/10/24 | 200,000 | 193,890 |
| 1.20%, 07/08/25 | 500,000 | 462,040 |
| 1.00%, 09/10/25 | 200,000 | 182,406 |
| 2.30%, 09/09/26 | 250,000 | 234,060 |
| 3.50%, 02/15/28 | 200,000 | 193,494 |
| 2.25%, 01/12/29 | 500,000 | 442,485 |
| 1.80%, 01/13/31 | 250,000 | 205,753 |
| Aptiv PLC | ||
| 2.40%, 02/18/25 (a) | 250,000 | 239,042 |
| 4.35%, 03/15/29 (a) | 150,000 | 142,430 |
| 3.25%, 03/01/32 (a) | 250,000 | 212,660 |
| 4.40%, 10/01/46 (a) | 125,000 | 99,834 |
| 5.40%, 03/15/49 (a) | 150,000 | 137,931 |
| 3.10%, 12/01/51 (a) | 350,000 | 227,220 |
| 4.15%, 05/01/52 (a) | 300,000 | 230,259 |
| AutoNation, Inc. | ||
| 3.50%, 11/15/24 (a) | 100,000 | 96,985 |
| 3.80%, 11/15/27 (a) | 350,000 | 330,274 |
| 4.75%, 06/01/30 (a) | 300,000 | 282,297 |
| 2.40%, 08/01/31 (a) | 150,000 | 115,542 |
| AutoZone, Inc. | ||
| 3.13%, 04/18/24 (a) | 50,000 | 49,483 |
| 3.25%, 04/15/25 (a) | 200,000 | 196,218 |
| 3.63%, 04/15/25 (a) | 100,000 | 98,889 |
| 3.13%, 04/21/26 (a) | 50,000 | 48,209 |
| 3.75%, 06/01/27 (a) | 200,000 | 194,162 |
| 3.75%, 04/18/29 (a) | 200,000 | 189,072 |
| 4.00%, 04/15/30 (a) | 250,000 | 237,660 |
| 1.65%, 01/15/31 (a) | 150,000 | 117,717 |
| Best Buy Co., Inc. | ||
| 4.45%, 10/01/28 (a) | 200,000 | 197,286 |
| 1.95%, 10/01/30 (a) | 200,000 | 159,018 |
| Block Financial LLC | ||
| 5.25%, 10/01/25 (a) | 175,000 | 177,980 |
| 3.88%, 08/15/30 (a) | 250,000 | 227,243 |
63
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Booking Holdings, Inc. | ||
| 3.60%, 06/01/26 (a) | 425,000 | 419,454 |
| 3.55%, 03/15/28 (a) | 150,000 | 144,707 |
| 4.63%, 04/13/30 (a) | 500,000 | 497,990 |
| BorgWarner, Inc. | ||
| 2.65%, 07/01/27 (a) | 350,000 | 318,633 |
| 4.38%, 03/15/45 (a) | 220,000 | 178,468 |
| CBRE Services, Inc. | ||
| 4.88%, 03/01/26 (a) | 150,000 | 151,775 |
| 2.50%, 04/01/31 (a) | 200,000 | 162,328 |
| Choice Hotels International, Inc. | ||
| 3.70%, 12/01/29 (a) | 100,000 | 88,658 |
| 3.70%, 01/15/31 (a) | 150,000 | 132,099 |
| Costco Wholesale Corp. | ||
| 2.75%, 05/18/24 (a) | 300,000 | 298,038 |
| 3.00%, 05/18/27 (a) | 550,000 | 536,706 |
| 1.60%, 04/20/30 (a) | 400,000 | 337,544 |
| 1.75%, 04/20/32 (a) | 600,000 | 494,778 |
| Cummins, Inc. | ||
| 3.65%, 10/01/23 (a) | 100,000 | 100,523 |
| 0.75%, 09/01/25 (a) | 200,000 | 183,098 |
| 1.50%, 09/01/30 (a) | 300,000 | 243,372 |
| 4.88%, 10/01/43 (a) | 175,000 | 177,854 |
| 2.60%, 09/01/50 (a) | 200,000 | 137,066 |
| Daimler Finance North America LLC | ||
| 8.50%, 01/18/31 | 450,000 | 570,420 |
| Darden Restaurants, Inc. | ||
| 3.85%, 05/01/27 (a) | 155,000 | 149,288 |
| 4.55%, 02/15/48 (a) | 100,000 | 83,146 |
| Dick's Sporting Goods, Inc. | ||
| 3.15%, 01/15/32 (a) | 250,000 | 198,223 |
| 4.10%, 01/15/52 (a) | 250,000 | 166,295 |
| Dollar General Corp. | ||
| 4.15%, 11/01/25 (a) | 89,000 | 89,225 |
| 3.88%, 04/15/27 (a) | 250,000 | 245,555 |
| 4.13%, 05/01/28 (a) | 150,000 | 146,517 |
| 3.50%, 04/03/30 (a) | 300,000 | 276,576 |
| 4.13%, 04/03/50 (a) | 200,000 | 168,270 |
| Dollar Tree, Inc. | ||
| 4.00%, 05/15/25 (a) | 250,000 | 249,297 |
| 4.20%, 05/15/28 (a) | 525,000 | 510,510 |
| 2.65%, 12/01/31 (a) | 250,000 | 206,375 |
| DR Horton, Inc. | ||
| 5.75%, 08/15/23 (a) | 100,000 | 101,939 |
| 2.50%, 10/15/24 (a) | 200,000 | 191,262 |
| 2.60%, 10/15/25 (a) | 210,000 | 197,881 |
| 1.40%, 10/15/27 (a) | 300,000 | 251,175 |
| eBay, Inc. | ||
| 3.45%, 08/01/24 (a) | 400,000 | 396,400 |
| 1.40%, 05/10/26 (a) | 250,000 | 225,048 |
| 3.60%, 06/05/27 (a) | 350,000 | 336,854 |
| 2.70%, 03/11/30 (a) | 200,000 | 170,794 |
| 2.60%, 05/10/31 (a) | 250,000 | 207,955 |
| 4.00%, 07/15/42 (a) | 350,000 | 298,256 |
| 3.65%, 05/10/51 (a) | 250,000 | 193,090 |
| Expedia Group, Inc. | ||
| 5.00%, 02/15/26 (a) | 100,000 | 100,120 |
| 4.63%, 08/01/27 (a) | 225,000 | 216,583 |
| 3.80%, 02/15/28 (a) | 300,000 | 273,720 |
| 3.25%, 02/15/30 (a) | 425,000 | 353,375 |
| 2.95%, 03/15/31 (a) | 350,000 | 279,545 |
| Ford Foundation | ||
| 2.42%, 06/01/50 (a) | 300,000 | 210,225 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| General Motors Co. | ||
| 4.88%, 10/02/23 | 700,000 | 706,776 |
| 5.40%, 10/02/23 | 300,000 | 304,605 |
| 4.00%, 04/01/25 | 400,000 | 395,144 |
| 6.13%, 10/01/25 (a) | 800,000 | 827,520 |
| 4.20%, 10/01/27 (a) | 250,000 | 237,510 |
| 6.80%, 10/01/27 (a) | 350,000 | 368,375 |
| 5.00%, 10/01/28 (a) | 250,000 | 242,710 |
| 5.00%, 04/01/35 | 200,000 | 179,502 |
| 6.60%, 04/01/36 (a) | 500,000 | 508,410 |
| 5.15%, 04/01/38 (a) | 250,000 | 219,340 |
| 6.25%, 10/02/43 | 550,000 | 526,619 |
| 5.20%, 04/01/45 | 400,000 | 337,404 |
| 6.75%, 04/01/46 (a) | 250,000 | 252,527 |
| 5.40%, 04/01/48 (a) | 200,000 | 175,180 |
| 5.95%, 04/01/49 (a) | 300,000 | 279,774 |
| General Motors Financial Co., Inc. | ||
| 4.15%, 06/19/23 (a) | 200,000 | 199,796 |
| 1.70%, 08/18/23 | 200,000 | 195,252 |
| 5.10%, 01/17/24 (a) | 575,000 | 581,043 |
| 1.05%, 03/08/24 | 400,000 | 379,120 |
| 3.95%, 04/13/24 (a) | 250,000 | 248,090 |
| 1.20%, 10/15/24 | 200,000 | 186,114 |
| 3.50%, 11/07/24 (a) | 450,000 | 440,167 |
| 4.00%, 01/15/25 (a) | 250,000 | 246,780 |
| 2.90%, 02/26/25 (a) | 650,000 | 620,847 |
| 3.80%, 04/07/25 | 350,000 | 341,771 |
| 4.35%, 04/09/25 (a) | 61,000 | 60,340 |
| 2.75%, 06/20/25 (a) | 250,000 | 235,732 |
| 1.25%, 01/08/26 (a) | 425,000 | 373,715 |
| 5.25%, 03/01/26 (a) | 375,000 | 375,802 |
| 1.50%, 06/10/26 (a) | 200,000 | 175,010 |
| 4.00%, 10/06/26 (a) | 300,000 | 286,782 |
| 4.35%, 01/17/27 (a) | 500,000 | 480,335 |
| 2.35%, 02/26/27 (a) | 250,000 | 220,433 |
| 2.70%, 08/20/27 (a) | 400,000 | 351,692 |
| 3.85%, 01/05/28 (a) | 200,000 | 183,676 |
| 5.65%, 01/17/29 (a) | 150,000 | 149,669 |
| 3.60%, 06/21/30 (a) | 400,000 | 346,864 |
| 2.70%, 06/10/31 (a) | 450,000 | 356,652 |
| 3.10%, 01/12/32 (a) | 500,000 | 402,070 |
| Genuine Parts Co. | ||
| 1.88%, 11/01/30 (a) | 125,000 | 98,850 |
| 2.75%, 02/01/32 (a) | 250,000 | 207,570 |
| GLP Capital LP/GLP Financing II, Inc. | ||
| 5.38%, 11/01/23 (a) | 200,000 | 200,142 |
| 3.35%, 09/01/24 (a) | 150,000 | 144,440 |
| 5.25%, 06/01/25 (a) | 300,000 | 294,999 |
| 5.38%, 04/15/26 (a) | 350,000 | 342,905 |
| 5.75%, 06/01/28 (a) | 250,000 | 244,512 |
| 5.30%, 01/15/29 (a) | 200,000 | 190,604 |
| 4.00%, 01/15/30 (a) | 250,000 | 220,413 |
| 4.00%, 01/15/31 (a) | 250,000 | 217,188 |
| Harley-Davidson, Inc. | ||
| 3.50%, 07/28/25 (a) | 100,000 | 97,086 |
| 4.63%, 07/28/45 (a) | 150,000 | 115,772 |
| Harman International Industries, Inc. | ||
| 4.15%, 05/15/25 (a) | 200,000 | 200,424 |
| Home Depot, Inc. | ||
| 3.75%, 02/15/24 (a) | 500,000 | 504,540 |
| 3.35%, 09/15/25 (a) | 100,000 | 99,435 |
| 3.00%, 04/01/26 (a) | 650,000 | 638,436 |
| 2.13%, 09/15/26 (a) | 300,000 | 284,121 |
| 2.50%, 04/15/27 (a) | 200,000 | 189,502 |
| 2.80%, 09/14/27 (a) | 150,000 | 143,156 |
| 1.50%, 09/15/28 (a) | 250,000 | 218,183 |
64
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.90%, 12/06/28 (a) | 550,000 | 550,654 |
| 2.95%, 06/15/29 (a) | 650,000 | 608,276 |
| 2.70%, 04/15/30 (a) | 550,000 | 499,543 |
| 1.38%, 03/15/31 (a) | 150,000 | 121,122 |
| 1.88%, 09/15/31 (a) | 250,000 | 208,440 |
| 3.25%, 04/15/32 (a) | 400,000 | 373,592 |
| 5.88%, 12/16/36 | 1,200,000 | 1,379,964 |
| 3.30%, 04/15/40 (a) | 355,000 | 301,750 |
| 5.40%, 09/15/40 (a) | 191,000 | 205,096 |
| 5.95%, 04/01/41 (a) | 400,000 | 457,148 |
| 4.20%, 04/01/43 (a) | 250,000 | 234,352 |
| 4.88%, 02/15/44 (a) | 450,000 | 458,442 |
| 4.40%, 03/15/45 (a) | 150,000 | 143,823 |
| 4.25%, 04/01/46 (a) | 550,000 | 520,080 |
| 3.90%, 06/15/47 (a) | 100,000 | 89,745 |
| 4.50%, 12/06/48 (a) | 350,000 | 342,447 |
| 3.13%, 12/15/49 (a) | 450,000 | 351,544 |
| 3.35%, 04/15/50 (a) | 500,000 | 406,175 |
| 2.38%, 03/15/51 (a) | 500,000 | 339,120 |
| 2.75%, 09/15/51 (a) | 250,000 | 182,468 |
| 3.63%, 04/15/52 (a) | 400,000 | 343,380 |
| 3.50%, 09/15/56 (a) | 297,000 | 242,976 |
| Honda Motor Co., Ltd. | ||
| 2.53%, 03/10/27 (a) | 200,000 | 187,444 |
| 2.97%, 03/10/32 (a) | 225,000 | 202,320 |
| Hyatt Hotels Corp. | ||
| 3.38%, 07/15/23 (a) | 150,000 | 146,856 |
| 5.63%, 04/23/25 (a) | 200,000 | 203,264 |
| 4.85%, 03/15/26 (a) | 250,000 | 249,472 |
| 4.38%, 09/15/28 (a) | 100,000 | 94,606 |
| 6.00%, 04/23/30 (a) | 150,000 | 151,593 |
| J Paul Getty Trust | ||
| Series 2021 0.39%, 01/01/24 (a) | 100,000 | 96,040 |
| JD.com, Inc. | ||
| 3.88%, 04/29/26 | 200,000 | 196,092 |
| 3.38%, 01/14/30 (a) | 200,000 | 183,264 |
| 4.13%, 01/14/50 (a) | 150,000 | 116,972 |
| Kohl's Corp. | ||
| 4.25%, 07/17/25 (a) | 150,000 | 148,124 |
| 3.38%, 05/01/31 (a) | 175,000 | 152,301 |
| 5.55%, 07/17/45 (a) | 175,000 | 152,609 |
| Lear Corp. | ||
| 3.80%, 09/15/27 (a) | 300,000 | 283,752 |
| 4.25%, 05/15/29 (a) | 150,000 | 139,100 |
| 5.25%, 05/15/49 (a) | 250,000 | 217,918 |
| Lennar Corp. | ||
| 4.88%, 12/15/23 (a) | 200,000 | 202,018 |
| 4.50%, 04/30/24 (a) | 150,000 | 149,916 |
| 5.88%, 11/15/24 (a) | 150,000 | 154,088 |
| 4.75%, 05/30/25 (a) | 200,000 | 200,890 |
| 5.00%, 06/15/27 (a) | 100,000 | 99,227 |
| 4.75%, 11/29/27 (a) | 300,000 | 292,296 |
| Lowe's Cos., Inc. | ||
| 4.00%, 04/15/25 (a) | 200,000 | 201,216 |
| 3.38%, 09/15/25 (a) | 500,000 | 491,695 |
| 2.50%, 04/15/26 (a) | 650,000 | 615,803 |
| 3.10%, 05/03/27 (a) | 460,000 | 437,455 |
| 1.30%, 04/15/28 (a) | 250,000 | 211,688 |
| 6.50%, 03/15/29 | 301,000 | 335,121 |
| 3.65%, 04/05/29 (a) | 472,000 | 446,498 |
| 4.50%, 04/15/30 (a) | 400,000 | 395,988 |
| 1.70%, 10/15/30 (a) | 400,000 | 321,644 |
| 2.63%, 04/01/31 (a) | 500,000 | 428,920 |
| 3.75%, 04/01/32 (a) | 500,000 | 464,425 |
| 5.00%, 04/15/40 (a) | 350,000 | 342,023 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.65%, 04/15/42 (a) | 150,000 | 139,826 |
| 4.38%, 09/15/45 (a) | 300,000 | 262,713 |
| 3.70%, 04/15/46 (a) | 250,000 | 201,408 |
| 4.05%, 05/03/47 (a) | 550,000 | 461,472 |
| 4.55%, 04/05/49 (a) | 300,000 | 273,801 |
| 5.13%, 04/15/50 (a) | 250,000 | 246,120 |
| 3.00%, 10/15/50 (a) | 300,000 | 209,559 |
| 4.25%, 04/01/52 (a) | 300,000 | 259,959 |
| 4.45%, 04/01/62 (a) | 500,000 | 428,020 |
| Magna International, Inc. | ||
| 3.63%, 06/15/24 (a) | 250,000 | 248,987 |
| 4.15%, 10/01/25 (a) | 250,000 | 251,107 |
| 2.45%, 06/15/30 (a) | 250,000 | 213,573 |
| Marriott International, Inc. | ||
| 4.15%, 12/01/23 (a) | 150,000 | 150,708 |
| 3.60%, 04/15/24 (a) | 200,000 | 198,344 |
| 3.75%, 03/15/25 (a) | 100,000 | 98,918 |
| 5.75%, 05/01/25 (a) | 250,000 | 259,525 |
| 3.75%, 10/01/25 (a) | 250,000 | 245,672 |
| 3.13%, 06/15/26 (a) | 300,000 | 285,717 |
| 4.65%, 12/01/28 (a) | 150,000 | 147,395 |
| 4.63%, 06/15/30 (a) | 400,000 | 382,432 |
| 2.85%, 04/15/31 (a) | 200,000 | 166,020 |
| 3.50%, 10/15/32 (a) | 475,000 | 410,025 |
| McDonald's Corp. | ||
| 3.25%, 06/10/24 | 150,000 | 149,736 |
| 3.38%, 05/26/25 (a) | 300,000 | 297,519 |
| 3.70%, 01/30/26 (a) | 600,000 | 600,198 |
| 3.50%, 03/01/27 (a) | 350,000 | 343,031 |
| 3.50%, 07/01/27 (a) | 300,000 | 293,976 |
| 3.80%, 04/01/28 (a) | 350,000 | 344,071 |
| 2.63%, 09/01/29 (a) | 400,000 | 358,948 |
| 2.13%, 03/01/30 (a) | 250,000 | 214,533 |
| 3.60%, 07/01/30 (a) | 350,000 | 333,403 |
| 4.70%, 12/09/35 (a) | 350,000 | 349,646 |
| 6.30%, 10/15/37 | 180,000 | 206,620 |
| 6.30%, 03/01/38 | 250,000 | 286,345 |
| 5.70%, 02/01/39 | 183,000 | 198,601 |
| 3.70%, 02/15/42 | 250,000 | 211,450 |
| 3.63%, 05/01/43 | 200,000 | 166,028 |
| 4.88%, 12/09/45 (a) | 600,000 | 590,094 |
| 4.45%, 03/01/47 (a) | 350,000 | 326,186 |
| 4.45%, 09/01/48 (a) | 250,000 | 233,058 |
| 3.63%, 09/01/49 (a) | 450,000 | 370,147 |
| 4.20%, 04/01/50 (a) | 150,000 | 134,964 |
| MDC Holdings, Inc. | ||
| 2.50%, 01/15/31 (a) | 100,000 | 74,319 |
| 6.00%, 01/15/43 (a) | 225,000 | 185,162 |
| 3.97%, 08/06/61 (a) | 150,000 | 86,742 |
| NIKE, Inc. | ||
| 2.40%, 03/27/25 (a) | 300,000 | 292,944 |
| 2.38%, 11/01/26 (a) | 300,000 | 285,732 |
| 2.75%, 03/27/27 (a) | 350,000 | 336,934 |
| 2.85%, 03/27/30 (a) | 500,000 | 459,330 |
| 3.25%, 03/27/40 (a) | 350,000 | 300,240 |
| 3.63%, 05/01/43 (a) | 100,000 | 88,730 |
| 3.88%, 11/01/45 (a) | 300,000 | 276,276 |
| 3.38%, 11/01/46 (a) | 150,000 | 128,943 |
| 3.38%, 03/27/50 (a) | 500,000 | 425,880 |
| NVR, Inc. | ||
| 3.00%, 05/15/30 (a) | 250,000 | 215,135 |
| O'Reilly Automotive, Inc. | ||
| 3.55%, 03/15/26 (a) | 200,000 | 196,304 |
| 3.60%, 09/01/27 (a) | 250,000 | 241,822 |
| 4.35%, 06/01/28 (a) | 209,000 | 208,055 |
65
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.90%, 06/01/29 (a) | 250,000 | 237,045 |
| 1.75%, 03/15/31 (a) | 250,000 | 198,045 |
| PACCAR Financial Corp. | ||
| 0.35%, 02/02/24 | 300,000 | 286,344 |
| 0.50%, 08/09/24 | 250,000 | 235,710 |
| 2.15%, 08/15/24 | 50,000 | 48,743 |
| 0.90%, 11/08/24 | 150,000 | 141,296 |
| 1.80%, 02/06/25 | 200,000 | 191,388 |
| PulteGroup, Inc. | ||
| 5.50%, 03/01/26 (a) | 150,000 | 152,756 |
| 5.00%, 01/15/27 (a) | 150,000 | 150,179 |
| 7.88%, 06/15/32 | 25,000 | 28,507 |
| 6.38%, 05/15/33 | 150,000 | 154,526 |
| 6.00%, 02/15/35 | 175,000 | 172,592 |
| PVH Corp. | ||
| 4.63%, 07/10/25 (a)(c) | 250,000 | 250,075 |
| Ralph Lauren Corp. | ||
| 3.75%, 09/15/25 (a) | 200,000 | 199,444 |
| 2.95%, 06/15/30 (a) | 200,000 | 176,484 |
| Rockefeller Foundation | ||
| 2.49%, 10/01/50 (a) | 250,000 | 182,440 |
| Ross Stores, Inc. | ||
| 4.60%, 04/15/25 (a) | 200,000 | 202,542 |
| 0.88%, 04/15/26 (a) | 150,000 | 132,989 |
| 1.88%, 04/15/31 (a) | 150,000 | 118,880 |
| Starbucks Corp. | ||
| 3.85%, 10/01/23 (a) | 350,000 | 352,831 |
| 2.00%, 03/12/27 (a) | 200,000 | 182,394 |
| 3.50%, 03/01/28 (a) | 350,000 | 336,189 |
| 4.00%, 11/15/28 (a) | 250,000 | 244,497 |
| 3.55%, 08/15/29 (a) | 650,000 | 610,369 |
| 2.25%, 03/12/30 (a) | 200,000 | 169,510 |
| 2.55%, 11/15/30 (a) | 275,000 | 234,864 |
| 3.00%, 02/14/32 (a) | 150,000 | 130,523 |
| 4.30%, 06/15/45 (a) | 50,000 | 44,199 |
| 3.75%, 12/01/47 (a) | 200,000 | 163,940 |
| 4.50%, 11/15/48 (a) | 350,000 | 319,644 |
| 4.45%, 08/15/49 (a) | 350,000 | 316,148 |
| 3.35%, 03/12/50 (a) | 200,000 | 151,394 |
| 3.50%, 11/15/50 (a) | 300,000 | 234,972 |
| Tapestry, Inc. | ||
| 4.25%, 04/01/25 (a) | 100,000 | 99,941 |
| 4.13%, 07/15/27 (a) | 250,000 | 240,772 |
| Target Corp. | ||
| 3.50%, 07/01/24 | 300,000 | 301,017 |
| 2.25%, 04/15/25 (a) | 500,000 | 483,320 |
| 2.50%, 04/15/26 | 200,000 | 192,096 |
| 3.38%, 04/15/29 (a) | 425,000 | 409,037 |
| 2.35%, 02/15/30 (a) | 250,000 | 221,158 |
| 2.65%, 09/15/30 (a) | 300,000 | 269,727 |
| 6.50%, 10/15/37 | 200,000 | 237,842 |
| 4.00%, 07/01/42 | 450,000 | 417,906 |
| 3.63%, 04/15/46 | 275,000 | 238,403 |
| 3.90%, 11/15/47 (a) | 200,000 | 179,982 |
| 2.95%, 01/15/52 (a) | 250,000 | 189,998 |
| The California Endowment | ||
| 2.50%, 04/01/51 (a) | 100,000 | 71,902 |
| TJX Cos., Inc. | ||
| 2.25%, 09/15/26 (a) | 400,000 | 375,820 |
| 1.15%, 05/15/28 (a) | 100,000 | 85,148 |
| 3.88%, 04/15/30 (a) | 350,000 | 342,310 |
| Toll Brothers Finance Corp. | ||
| 4.88%, 03/15/27 (a) | 250,000 | 237,962 |
| 3.80%, 11/01/29 (a) | 200,000 | 170,990 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Toyota Motor Corp. | ||
| 3.42%, 07/20/23 | 250,000 | 251,145 |
| 0.68%, 03/25/24 (a) | 500,000 | 477,355 |
| 2.36%, 07/02/24 | 150,000 | 147,215 |
| 1.34%, 03/25/26 (a) | 300,000 | 273,483 |
| 3.67%, 07/20/28 | 250,000 | 245,540 |
| 2.76%, 07/02/29 | 150,000 | 137,277 |
| Toyota Motor Credit Corp. | ||
| 0.50%, 08/14/23 | 500,000 | 485,475 |
| 1.35%, 08/25/23 | 250,000 | 244,967 |
| 3.45%, 09/20/23 | 250,000 | 251,170 |
| 2.25%, 10/18/23 | 250,000 | 246,950 |
| 3.35%, 01/08/24 | 200,000 | 200,290 |
| 0.45%, 01/11/24 | 300,000 | 287,481 |
| 2.90%, 04/17/24 | 350,000 | 346,888 |
| 1.45%, 01/13/25 | 150,000 | 142,305 |
| 1.80%, 02/13/25 | 500,000 | 477,445 |
| 3.00%, 04/01/25 | 450,000 | 442,809 |
| 3.95%, 06/30/25 | 400,000 | 402,088 |
| 0.80%, 10/16/25 | 400,000 | 364,284 |
| 0.80%, 01/09/26 | 300,000 | 271,446 |
| 1.13%, 06/18/26 | 250,000 | 225,945 |
| 3.20%, 01/11/27 | 650,000 | 630,948 |
| 3.05%, 03/22/27 | 500,000 | 480,345 |
| 1.15%, 08/13/27 | 400,000 | 348,488 |
| 3.05%, 01/11/28 | 250,000 | 237,232 |
| 3.65%, 01/08/29 | 400,000 | 388,984 |
| 2.15%, 02/13/30 | 250,000 | 216,905 |
| 3.38%, 04/01/30 | 350,000 | 329,931 |
| 1.65%, 01/10/31 | 300,000 | 243,924 |
| Tractor Supply Co. | ||
| 1.75%, 11/01/30 (a) | 225,000 | 177,104 |
| VF Corp. | ||
| 2.40%, 04/23/25 (a) | 275,000 | 264,396 |
| 2.80%, 04/23/27 (a) | 200,000 | 187,506 |
| 2.95%, 04/23/30 (a) | 250,000 | 219,078 |
| VICI Properties LP | ||
| 4.75%, 02/15/28 (a) | 350,000 | 334,579 |
| 4.95%, 02/15/30 (a) | 300,000 | 284,133 |
| 5.13%, 05/15/32 (a) | 450,000 | 425,061 |
| 5.63%, 05/15/52 (a) | 200,000 | 182,462 |
| Walgreens Boots Alliance, Inc. | ||
| 3.80%, 11/18/24 (a) | 400,000 | 398,048 |
| 3.45%, 06/01/26 (a) | 550,000 | 535,260 |
| 3.20%, 04/15/30 (a) | 250,000 | 220,890 |
| 4.50%, 11/18/34 (a) | 100,000 | 92,119 |
| 4.65%, 06/01/46 (a) | 150,000 | 129,860 |
| 4.10%, 04/15/50 (a) | 300,000 | 237,246 |
| Walmart, Inc. | ||
| 3.30%, 04/22/24 (a) | 300,000 | 301,092 |
| 2.85%, 07/08/24 (a) | 400,000 | 398,124 |
| 2.65%, 12/15/24 (a) | 400,000 | 395,856 |
| 3.55%, 06/26/25 (a) | 300,000 | 303,027 |
| 3.05%, 07/08/26 (a) | 100,000 | 99,253 |
| 1.05%, 09/17/26 (a) | 100,000 | 91,173 |
| 5.88%, 04/05/27 | 50,000 | 55,246 |
| 3.70%, 06/26/28 (a) | 750,000 | 747,675 |
| 1.50%, 09/22/28 (a) | 200,000 | 175,548 |
| 3.25%, 07/08/29 (a) | 350,000 | 337,746 |
| 2.38%, 09/24/29 (a) | 150,000 | 136,607 |
| 1.80%, 09/22/31 (a) | 750,000 | 637,905 |
| 5.25%, 09/01/35 | 600,000 | 669,552 |
| 6.50%, 08/15/37 | 100,000 | 127,172 |
| 6.20%, 04/15/38 | 150,000 | 183,770 |
| 3.95%, 06/28/38 (a) | 350,000 | 339,888 |
| 5.00%, 10/25/40 | 150,000 | 160,889 |
66
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.63%, 04/15/41 | 150,000 | 175,041 |
| 2.50%, 09/22/41 (a) | 350,000 | 272,352 |
| 4.00%, 04/11/43 (a) | 225,000 | 213,471 |
| 4.30%, 04/22/44 (a) | 200,000 | 194,542 |
| 3.63%, 12/15/47 (a) | 150,000 | 133,319 |
| 4.05%, 06/29/48 (a) | 650,000 | 634,751 |
| 2.95%, 09/24/49 (a) | 350,000 | 283,332 |
| 120,924,456 | ||
| Consumer Non-Cyclical 3.6% | ||
| Abbott Laboratories | ||
| 3.40%, 11/30/23 (a) | 450,000 | 452,061 |
| 3.88%, 09/15/25 (a) | 100,000 | 101,232 |
| 3.75%, 11/30/26 (a) | 608,000 | 612,967 |
| 1.15%, 01/30/28 (a) | 350,000 | 305,273 |
| 1.40%, 06/30/30 (a) | 100,000 | 83,584 |
| 4.75%, 11/30/36 (a) | 700,000 | 744,128 |
| 6.00%, 04/01/39 | 160,000 | 181,662 |
| 5.30%, 05/27/40 | 200,000 | 218,484 |
| 4.75%, 04/15/43 (a) | 250,000 | 253,837 |
| 4.90%, 11/30/46 (a) | 1,000,000 | 1,055,440 |
| AbbVie, Inc. | ||
| 3.75%, 11/14/23 (a) | 250,000 | 251,035 |
| 3.85%, 06/15/24 (a) | 300,000 | 300,036 |
| 2.60%, 11/21/24 (a) | 1,150,000 | 1,114,476 |
| 3.80%, 03/15/25 (a) | 500,000 | 496,700 |
| 3.60%, 05/14/25 (a) | 1,200,000 | 1,184,760 |
| 3.20%, 05/14/26 (a) | 700,000 | 674,282 |
| 2.95%, 11/21/26 (a) | 1,325,000 | 1,256,484 |
| 4.25%, 11/14/28 (a) | 590,000 | 583,917 |
| 3.20%, 11/21/29 (a) | 1,700,000 | 1,564,170 |
| 4.55%, 03/15/35 (a) | 640,000 | 624,448 |
| 4.50%, 05/14/35 (a) | 825,000 | 801,133 |
| 4.30%, 05/14/36 (a) | 300,000 | 282,351 |
| 4.05%, 11/21/39 (a) | 1,300,000 | 1,160,341 |
| 4.63%, 10/01/42 (a) | 150,000 | 139,119 |
| 4.40%, 11/06/42 | 850,000 | 774,511 |
| 4.85%, 06/15/44 (a) | 200,000 | 192,274 |
| 4.75%, 03/15/45 (a) | 218,000 | 206,150 |
| 4.70%, 05/14/45 (a) | 850,000 | 801,533 |
| 4.45%, 05/14/46 (a) | 250,000 | 227,142 |
| 4.88%, 11/14/48 (a) | 569,000 | 550,075 |
| 4.25%, 11/21/49 (a) | 1,800,000 | 1,597,050 |
| Adventist Health System | ||
| 2.95%, 03/01/29 (a) | 150,000 | 137,733 |
| Advocate Health & Hospitals Corp. | ||
| 3.83%, 08/15/28 (a) | 100,000 | 98,690 |
| 2.21%, 06/15/30 (a) | 250,000 | 216,070 |
| 4.27%, 08/15/48 (a) | 89,000 | 85,764 |
| 3.39%, 10/15/49 (a) | 200,000 | 164,268 |
| 3.01%, 06/15/50 (a) | 50,000 | 37,888 |
| Agilent Technologies, Inc. | ||
| 2.75%, 09/15/29 (a) | 350,000 | 307,023 |
| 2.30%, 03/12/31 (a) | 250,000 | 203,820 |
| Ahold Finance USA LLC | ||
| 6.88%, 05/01/29 | 150,000 | 167,496 |
| AHS Hospital Corp. | ||
| 5.02%, 07/01/45 | 250,000 | 264,240 |
| Allina Health System | ||
| 3.89%, 04/15/49 | 150,000 | 133,833 |
| 2.90%, 11/15/51 (a) | 50,000 | 36,040 |
| Altria Group, Inc. | ||
| 4.00%, 01/31/24 | 250,000 | 250,740 |
| 3.80%, 02/14/24 (a)(e) | 100,000 | 99,773 |
| 2.35%, 05/06/25 (a) | 250,000 | 235,935 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.40%, 02/14/26 (a) | 250,000 | 244,800 |
| 2.63%, 09/16/26 (a) | 250,000 | 229,182 |
| 4.80%, 02/14/29 (a) | 660,000 | 626,241 |
| 3.40%, 05/06/30 (a) | 200,000 | 170,686 |
| 2.45%, 02/04/32 (a) | 500,000 | 377,055 |
| 5.80%, 02/14/39 (a) | 675,000 | 616,720 |
| 3.40%, 02/04/41 (a) | 300,000 | 199,833 |
| 4.25%, 08/09/42 | 350,000 | 258,093 |
| 4.50%, 05/02/43 | 300,000 | 223,980 |
| 5.38%, 01/31/44 | 650,000 | 560,924 |
| 3.88%, 09/16/46 (a) | 400,000 | 270,180 |
| 5.95%, 02/14/49 (a) | 650,000 | 570,921 |
| 4.45%, 05/06/50 (a) | 200,000 | 144,518 |
| 3.70%, 02/04/51 (a) | 400,000 | 257,496 |
| 4.00%, 02/04/61 (a) | 150,000 | 99,266 |
| AmerisourceBergen Corp. | ||
| 3.40%, 05/15/24 (a) | 150,000 | 148,815 |
| 3.45%, 12/15/27 (a) | 300,000 | 289,200 |
| 2.80%, 05/15/30 (a) | 200,000 | 174,966 |
| 2.70%, 03/15/31 (a) | 550,000 | 471,537 |
| 4.30%, 12/15/47 (a) | 150,000 | 135,701 |
| Amgen, Inc. | ||
| 2.25%, 08/19/23 (a) | 200,000 | 197,832 |
| 3.63%, 05/22/24 (a) | 450,000 | 449,424 |
| 1.90%, 02/21/25 (a) | 150,000 | 143,399 |
| 3.13%, 05/01/25 (a) | 250,000 | 245,705 |
| 2.60%, 08/19/26 (a) | 400,000 | 378,936 |
| 2.20%, 02/21/27 (a) | 450,000 | 413,892 |
| 3.20%, 11/02/27 (a) | 350,000 | 335,097 |
| 1.65%, 08/15/28 (a) | 400,000 | 343,652 |
| 3.00%, 02/22/29 (a) | 250,000 | 230,920 |
| 2.45%, 02/21/30 (a) | 400,000 | 349,524 |
| 2.30%, 02/25/31 (a) | 425,000 | 361,496 |
| 2.00%, 01/15/32 (a) | 500,000 | 407,735 |
| 3.35%, 02/22/32 (a) | 350,000 | 320,729 |
| 6.38%, 06/01/37 | 50,000 | 57,828 |
| 6.40%, 02/01/39 | 50,000 | 56,641 |
| 3.15%, 02/21/40 (a) | 700,000 | 556,059 |
| 2.80%, 08/15/41 (a) | 400,000 | 297,648 |
| 4.95%, 10/01/41 | 300,000 | 295,131 |
| 5.15%, 11/15/41 (a) | 276,000 | 274,902 |
| 5.65%, 06/15/42 (a) | 100,000 | 105,664 |
| 4.40%, 05/01/45 (a) | 700,000 | 637,700 |
| 4.56%, 06/15/48 (a) | 400,000 | 367,996 |
| 3.38%, 02/21/50 (a) | 750,000 | 576,810 |
| 4.66%, 06/15/51 (a) | 1,050,000 | 988,585 |
| 3.00%, 01/15/52 (a) | 200,000 | 142,780 |
| 4.20%, 02/22/52 (a) | 250,000 | 219,908 |
| 2.77%, 09/01/53 (a) | 372,000 | 251,866 |
| 4.40%, 02/22/62 (a) | 350,000 | 304,937 |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | ||
| 3.65%, 02/01/26 (a) | 1,050,000 | 1,034,512 |
| 4.70%, 02/01/36 (a) | 1,750,000 | 1,685,180 |
| 4.90%, 02/01/46 (a) | 2,900,000 | 2,737,571 |
| Anheuser-Busch InBev Finance, Inc. | ||
| 4.70%, 02/01/36 (a) | 187,000 | 179,937 |
| 4.00%, 01/17/43 | 250,000 | 208,223 |
| 4.63%, 02/01/44 | 300,000 | 271,965 |
| 4.90%, 02/01/46 (a) | 450,000 | 423,157 |
| Anheuser-Busch InBev Worldwide, Inc. | ||
| 4.00%, 04/13/28 (a) | 800,000 | 790,296 |
| 4.75%, 01/23/29 (a) | 1,325,000 | 1,352,017 |
| 3.50%, 06/01/30 (a) | 500,000 | 469,500 |
| 4.90%, 01/23/31 (a) | 250,000 | 257,005 |
| 4.38%, 04/15/38 (a) | 125,000 | 114,703 |
| 8.20%, 01/15/39 | 350,000 | 455,346 |
| 5.45%, 01/23/39 (a) | 600,000 | 610,158 |
67
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.35%, 06/01/40 (a) | 350,000 | 314,786 |
| 4.95%, 01/15/42 | 490,000 | 467,774 |
| 3.75%, 07/15/42 | 350,000 | 285,593 |
| 4.60%, 04/15/48 (a) | 800,000 | 720,776 |
| 4.44%, 10/06/48 (a) | 550,000 | 484,852 |
| 5.55%, 01/23/49 (a) | 1,250,000 | 1,278,350 |
| 4.50%, 06/01/50 (a) | 725,000 | 652,079 |
| 4.75%, 04/15/58 (a) | 500,000 | 451,840 |
| 5.80%, 01/23/59 (a) | 600,000 | 627,372 |
| 4.60%, 06/01/60 (a) | 300,000 | 263,685 |
| Archer-Daniels-Midland Co. | ||
| 2.50%, 08/11/26 (a) | 500,000 | 479,150 |
| 3.25%, 03/27/30 (a) | 450,000 | 424,318 |
| 5.38%, 09/15/35 | 200,000 | 219,584 |
| 3.75%, 09/15/47 (a) | 150,000 | 136,118 |
| 4.50%, 03/15/49 (a) | 250,000 | 251,810 |
| 2.70%, 09/15/51 (a) | 200,000 | 147,050 |
| Ascension Health | ||
| 2.53%, 11/15/29 (a) | 120,000 | 108,496 |
| 3.11%, 11/15/39 (a) | 200,000 | 165,376 |
| 3.95%, 11/15/46 | 375,000 | 348,382 |
| 4.85%, 11/15/53 | 175,000 | 184,874 |
| Astrazeneca Finance LLC | ||
| 0.70%, 05/28/24 (a) | 650,000 | 616,934 |
| 1.20%, 05/28/26 (a) | 350,000 | 316,515 |
| 1.75%, 05/28/28 (a) | 350,000 | 309,001 |
| 2.25%, 05/28/31 (a) | 100,000 | 87,123 |
| AstraZeneca PLC | ||
| 3.50%, 08/17/23 (a) | 300,000 | 301,143 |
| 3.38%, 11/16/25 | 650,000 | 643,968 |
| 0.70%, 04/08/26 (a) | 200,000 | 178,316 |
| 3.13%, 06/12/27 (a) | 50,000 | 48,220 |
| 4.00%, 01/17/29 (a) | 200,000 | 199,414 |
| 1.38%, 08/06/30 (a) | 600,000 | 492,396 |
| 6.45%, 09/15/37 | 800,000 | 960,432 |
| 4.00%, 09/18/42 | 350,000 | 323,862 |
| 4.38%, 11/16/45 | 250,000 | 243,200 |
| 4.38%, 08/17/48 (a) | 250,000 | 246,670 |
| 2.13%, 08/06/50 (a) | 200,000 | 133,966 |
| 3.00%, 05/28/51 (a) | 250,000 | 199,465 |
| Banner Health | ||
| 2.34%, 01/01/30 (a) | 200,000 | 177,066 |
| 3.18%, 01/01/50 (a) | 100,000 | 78,287 |
| 2.91%, 01/01/51 (a) | 200,000 | 151,866 |
| Baptist Healthcare System Obligated Group | ||
| Series 20B 3.54%, 08/15/50 (a) | 200,000 | 163,990 |
| BAT Capital Corp. | ||
| 3.22%, 08/15/24 (a) | 850,000 | 827,781 |
| 2.79%, 09/06/24 (a) | 300,000 | 289,872 |
| 3.22%, 09/06/26 (a) | 350,000 | 326,970 |
| 4.70%, 04/02/27 (a) | 350,000 | 342,251 |
| 3.56%, 08/15/27 (a) | 1,100,000 | 1,008,018 |
| 2.26%, 03/25/28 (a) | 200,000 | 167,604 |
| 3.46%, 09/06/29 (a) | 200,000 | 171,758 |
| 4.91%, 04/02/30 (a) | 400,000 | 371,940 |
| 2.73%, 03/25/31 (a) | 250,000 | 197,675 |
| 4.39%, 08/15/37 (a) | 700,000 | 557,690 |
| 3.73%, 09/25/40 (a) | 250,000 | 176,860 |
| 4.54%, 08/15/47 (a) | 750,000 | 552,277 |
| 4.76%, 09/06/49 (a) | 325,000 | 246,308 |
| 5.28%, 04/02/50 (a) | 175,000 | 144,694 |
| 3.98%, 09/25/50 (a) | 300,000 | 205,662 |
| 5.65%, 03/16/52 (a) | 200,000 | 171,894 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| BAT International Finance PLC | ||
| 1.67%, 03/25/26 (a) | 550,000 | 488,125 |
| 4.45%, 03/16/28 (a) | 300,000 | 284,268 |
| Baxalta, Inc. | ||
| 4.00%, 06/23/25 (a) | 200,000 | 198,596 |
| 5.25%, 06/23/45 (a) | 173,000 | 173,868 |
| Baxter International, Inc. | ||
| 0.87%, 12/01/23 | 250,000 | 240,075 |
| 1.32%, 11/29/24 | 450,000 | 422,797 |
| 2.60%, 08/15/26 (a) | 200,000 | 187,534 |
| 1.92%, 02/01/27 (a) | 500,000 | 448,205 |
| 3.95%, 04/01/30 (a) | 250,000 | 240,157 |
| 1.73%, 04/01/31 (a) | 400,000 | 315,488 |
| 2.54%, 02/01/32 (a) | 550,000 | 464,288 |
| 3.50%, 08/15/46 (a) | 200,000 | 156,910 |
| 3.13%, 12/01/51 (a) | 150,000 | 109,362 |
| BayCare Health System, Inc. | ||
| Series 2020 3.83%, 11/15/50 (a) | 200,000 | 180,954 |
| Baylor Scott & White Holdings | ||
| 1.78%, 11/15/30 (a) | 50,000 | 41,124 |
| 4.19%, 11/15/45 (a) | 350,000 | 330,988 |
| 2.84%, 11/15/50 (a) | 250,000 | 183,870 |
| Becton Dickinson & Co. | ||
| 3.73%, 12/15/24 (a) | 487,000 | 484,658 |
| 3.70%, 06/06/27 (a) | 481,000 | 465,743 |
| 2.82%, 05/20/30 (a) | 250,000 | 219,918 |
| 1.96%, 02/11/31 (a) | 300,000 | 242,892 |
| 4.69%, 12/15/44 (a) | 350,000 | 324,926 |
| 4.67%, 06/06/47 (a) | 450,000 | 421,681 |
| 3.79%, 05/20/50 (a) | 250,000 | 206,935 |
| Beth Israel Lahey Health, Inc. | ||
| 3.08%, 07/01/51 (a) | 150,000 | 109,800 |
| Biogen, Inc. | ||
| 4.05%, 09/15/25 (a) | 600,000 | 594,384 |
| 2.25%, 05/01/30 (a) | 500,000 | 410,430 |
| 3.15%, 05/01/50 (a) | 600,000 | 412,098 |
| 3.25%, 02/15/51 (a) | 435,000 | 305,518 |
| Bio-Rad Laboratories, Inc. | ||
| 3.70%, 03/15/32 (a) | 250,000 | 222,357 |
| Bon Secours Mercy Health, Inc. | ||
| 3.46%, 06/01/30 (a) | 175,000 | 163,406 |
| 2.10%, 06/01/31 (a) | 100,000 | 82,990 |
| 3.21%, 06/01/50 (a) | 100,000 | 75,346 |
| Boston Scientific Corp. | ||
| 3.45%, 03/01/24 (a) | 110,000 | 109,855 |
| 1.90%, 06/01/25 (a) | 150,000 | 141,684 |
| 2.65%, 06/01/30 (a) | 350,000 | 305,788 |
| 6.75%, 11/15/35 (f) | 150,000 | 173,247 |
| 4.55%, 03/01/39 (a) | 150,000 | 140,373 |
| 7.38%, 01/15/40 | 100,000 | 124,215 |
| 4.70%, 03/01/49 (a) | 200,000 | 191,624 |
| Bristol-Myers Squibb Co. | ||
| 0.54%, 11/13/23 (a) | 500,000 | 483,515 |
| 2.90%, 07/26/24 (a) | 800,000 | 793,160 |
| 3.88%, 08/15/25 (a) | 114,000 | 114,642 |
| 0.75%, 11/13/25 (a) | 250,000 | 228,080 |
| 3.20%, 06/15/26 (a) | 647,000 | 639,107 |
| 3.25%, 02/27/27 | 250,000 | 246,905 |
| 1.13%, 11/13/27 (a) | 300,000 | 264,099 |
| 3.90%, 02/20/28 (a) | 350,000 | 351,064 |
| 3.40%, 07/26/29 (a) | 1,075,000 | 1,039,256 |
| 1.45%, 11/13/30 (a) | 100,000 | 82,293 |
| 2.95%, 03/15/32 (a) | 600,000 | 551,298 |
| 4.13%, 06/15/39 (a) | 750,000 | 718,192 |
68
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.35%, 11/13/40 (a) | 300,000 | 223,224 |
| 3.25%, 08/01/42 | 300,000 | 246,864 |
| 5.00%, 08/15/45 (a) | 300,000 | 314,601 |
| 4.35%, 11/15/47 (a) | 400,000 | 382,792 |
| 4.55%, 02/20/48 (a) | 556,000 | 546,465 |
| 4.25%, 10/26/49 (a) | 1,200,000 | 1,130,616 |
| 2.55%, 11/13/50 (a) | 200,000 | 141,810 |
| 3.70%, 03/15/52 (a) | 650,000 | 562,952 |
| 3.90%, 03/15/62 (a) | 325,000 | 280,657 |
| Brown-Forman Corp. | ||
| 4.00%, 04/15/38 (a) | 150,000 | 136,220 |
| 4.50%, 07/15/45 (a) | 150,000 | 139,398 |
| Brunswick Corp. | ||
| 0.85%, 08/18/24 (a) | 225,000 | 207,941 |
| 2.40%, 08/18/31 (a) | 200,000 | 148,192 |
| 5.10%, 04/01/52 (a) | 150,000 | 112,353 |
| Bunge Ltd. Finance Corp. | ||
| 1.63%, 08/17/25 (a) | 200,000 | 184,370 |
| 3.75%, 09/25/27 (a) | 400,000 | 385,144 |
| 2.75%, 05/14/31 (a) | 250,000 | 206,515 |
| Campbell Soup Co. | ||
| 3.95%, 03/15/25 (a) | 250,000 | 249,612 |
| 4.15%, 03/15/28 (a) | 400,000 | 391,984 |
| 2.38%, 04/24/30 (a) | 250,000 | 211,285 |
| 4.80%, 03/15/48 (a) | 225,000 | 210,778 |
| 3.13%, 04/24/50 (a) | 25,000 | 17,857 |
| Cardinal Health, Inc. | ||
| 3.08%, 06/15/24 (a) | 272,000 | 267,830 |
| 3.50%, 11/15/24 (a) | 200,000 | 198,420 |
| 3.75%, 09/15/25 (a) | 250,000 | 247,342 |
| 3.41%, 06/15/27 (a) | 400,000 | 385,012 |
| 4.60%, 03/15/43 | 150,000 | 129,924 |
| 4.90%, 09/15/45 (a) | 150,000 | 136,974 |
| 4.37%, 06/15/47 (a) | 100,000 | 85,113 |
| Catholic Health Services of Long Island Obligated Group | ||
| 3.37%, 07/01/50 (a) | 175,000 | 129,939 |
| Cedars-Sinai Health System | ||
| 2.29%, 08/15/31 (a) | 100,000 | 85,775 |
| Children's Health System of Texas | ||
| 2.51%, 08/15/50 (a) | 200,000 | 139,156 |
| Children's Hospital | ||
| 2.93%, 07/15/50 (a) | 150,000 | 107,816 |
| Children's Hospital Corp. | ||
| 4.12%, 01/01/47 (a) | 150,000 | 140,822 |
| 2.59%, 02/01/50 (a) | 120,000 | 83,905 |
| Children's Hospital Medical Center | ||
| 4.27%, 05/15/44 | 150,000 | 143,354 |
| Children's Hospital of Philadelphia | ||
| 2.70%, 07/01/50 (a) | 150,000 | 104,678 |
| CHRISTUS Health | ||
| 4.34%, 07/01/28 (a) | 150,000 | 150,689 |
| Church & Dwight Co., Inc. | ||
| 3.15%, 08/01/27 (a) | 350,000 | 335,552 |
| 5.00%, 06/15/52 (a) | 150,000 | 154,013 |
| Cigna Corp. | ||
| 3.00%, 07/15/23 (a) | 285,000 | 283,099 |
| 3.75%, 07/15/23 (a) | 443,000 | 443,585 |
| 0.61%, 03/15/24 (a) | 75,000 | 71,452 |
| 3.25%, 04/15/25 (a) | 400,000 | 392,536 |
| 4.13%, 11/15/25 (a) | 750,000 | 752,490 |
| 4.50%, 02/25/26 (a) | 385,000 | 390,425 |
| 1.25%, 03/15/26 (a) | 150,000 | 135,465 |
| 3.40%, 03/01/27 (a) | 435,000 | 418,374 |
| 3.05%, 10/15/27 (a) | 191,000 | 179,926 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.38%, 10/15/28 (a) | 1,000,000 | 992,220 |
| 2.40%, 03/15/30 (a) | 500,000 | 430,255 |
| 2.38%, 03/15/31 (a) | 500,000 | 422,845 |
| 4.80%, 08/15/38 (a) | 650,000 | 633,464 |
| 3.20%, 03/15/40 (a) | 250,000 | 199,888 |
| 6.13%, 11/15/41 | 145,000 | 160,224 |
| 4.80%, 07/15/46 (a) | 430,000 | 410,151 |
| 3.88%, 10/15/47 (a) | 314,000 | 259,706 |
| 4.90%, 12/15/48 (a) | 850,000 | 816,833 |
| 3.40%, 03/15/50 (a) | 400,000 | 306,292 |
| 3.40%, 03/15/51 (a) | 475,000 | 366,477 |
| City of Hope | ||
| 5.62%, 11/15/43 | 195,000 | 211,743 |
| Cleveland Clinic Foundation | ||
| 4.86%, 01/01/14 | 150,000 | 145,011 |
| Clorox Co. | ||
| 3.10%, 10/01/27 (a) | 100,000 | 95,651 |
| 3.90%, 05/15/28 (a) | 450,000 | 441,742 |
| 4.40%, 05/01/29 (a) | 150,000 | 149,960 |
| Coca-Cola Co. | ||
| 1.75%, 09/06/24 | 350,000 | 342,062 |
| 3.38%, 03/25/27 | 400,000 | 396,600 |
| 1.45%, 06/01/27 | 500,000 | 452,875 |
| 1.00%, 03/15/28 | 500,000 | 431,545 |
| 2.13%, 09/06/29 | 300,000 | 267,942 |
| 3.45%, 03/25/30 | 700,000 | 679,602 |
| 1.65%, 06/01/30 | 250,000 | 212,025 |
| 2.00%, 03/05/31 | 200,000 | 172,262 |
| 1.38%, 03/15/31 | 400,000 | 326,048 |
| 2.25%, 01/05/32 | 500,000 | 436,155 |
| 2.50%, 06/01/40 | 500,000 | 394,080 |
| 4.20%, 03/25/50 | 250,000 | 246,445 |
| 2.60%, 06/01/50 | 400,000 | 299,204 |
| 3.00%, 03/05/51 | 350,000 | 283,251 |
| 2.50%, 03/15/51 | 500,000 | 364,630 |
| 2.75%, 06/01/60 | 350,000 | 253,312 |
| Coca-Cola Consolidated, Inc. | ||
| 3.80%, 11/25/25 (a) | 150,000 | 149,648 |
| Coca-Cola Femsa S.A.B. de C.V. | ||
| 2.75%, 01/22/30 (a) | 350,000 | 314,398 |
| 1.85%, 09/01/32 (a) | 300,000 | 234,492 |
| 5.25%, 11/26/43 | 200,000 | 202,252 |
| Colgate-Palmolive Co. | ||
| 3.25%, 03/15/24 | 150,000 | 150,263 |
| 3.70%, 08/01/47 (a) | 377,000 | 342,459 |
| CommonSpirit Health | ||
| 2.76%, 10/01/24 (a) | 300,000 | 292,422 |
| 3.35%, 10/01/29 (a) | 350,000 | 322,577 |
| 4.35%, 11/01/42 | 250,000 | 225,325 |
| 3.82%, 10/01/49 (a) | 250,000 | 209,670 |
| 4.19%, 10/01/49 (a) | 300,000 | 253,734 |
| 3.91%, 10/01/50 (a) | 225,000 | 180,324 |
| Community Health Network, Inc. | ||
| 3.10%, 05/01/50 (a) | 175,000 | 131,878 |
| Conagra Brands, Inc. | ||
| 4.30%, 05/01/24 (a) | 360,000 | 361,534 |
| 4.60%, 11/01/25 (a) | 350,000 | 351,967 |
| 1.38%, 11/01/27 (a) | 350,000 | 292,348 |
| 7.00%, 10/01/28 | 50,000 | 53,930 |
| 4.85%, 11/01/28 (a) | 400,000 | 394,652 |
| 8.25%, 09/15/30 | 150,000 | 175,997 |
| 5.30%, 11/01/38 (a) | 350,000 | 331,065 |
| 5.40%, 11/01/48 (a) | 300,000 | 283,875 |
69
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Constellation Brands, Inc. | ||
| 4.75%, 11/15/24 | 150,000 | 152,241 |
| 4.40%, 11/15/25 (a) | 250,000 | 251,597 |
| 4.75%, 12/01/25 | 200,000 | 203,526 |
| 3.70%, 12/06/26 (a) | 200,000 | 195,050 |
| 3.60%, 02/15/28 (a) | 100,000 | 94,919 |
| 4.65%, 11/15/28 (a) | 250,000 | 247,652 |
| 3.15%, 08/01/29 (a) | 300,000 | 270,555 |
| 2.88%, 05/01/30 (a) | 550,000 | 479,039 |
| 4.75%, 05/09/32 (a) | 200,000 | 197,802 |
| 4.50%, 05/09/47 (a) | 175,000 | 155,890 |
| 4.10%, 02/15/48 (a) | 150,000 | 127,343 |
| 5.25%, 11/15/48 (a) | 200,000 | 198,714 |
| Cottage Health Obligated Group | ||
| 3.30%, 11/01/49 (a) | 200,000 | 158,534 |
| CVS Health Corp. | ||
| 3.38%, 08/12/24 (a) | 250,000 | 249,012 |
| 2.63%, 08/15/24 (a) | 300,000 | 293,592 |
| 4.10%, 03/25/25 (a) | 300,000 | 302,292 |
| 3.88%, 07/20/25 (a) | 950,000 | 946,428 |
| 2.88%, 06/01/26 (a) | 600,000 | 572,250 |
| 3.00%, 08/15/26 (a) | 250,000 | 239,612 |
| 3.63%, 04/01/27 (a) | 250,000 | 243,650 |
| 6.25%, 06/01/27 | 200,000 | 215,010 |
| 1.30%, 08/21/27 (a) | 350,000 | 301,710 |
| 4.30%, 03/25/28 (a) | 1,572,000 | 1,558,198 |
| 3.25%, 08/15/29 (a) | 500,000 | 457,025 |
| 3.75%, 04/01/30 (a) | 400,000 | 374,500 |
| 1.75%, 08/21/30 (a) | 100,000 | 80,321 |
| 1.88%, 02/28/31 (a) | 400,000 | 320,836 |
| 2.13%, 09/15/31 (a) | 400,000 | 324,248 |
| 4.88%, 07/20/35 (a) | 250,000 | 247,492 |
| 4.78%, 03/25/38 (a) | 1,575,000 | 1,492,454 |
| 6.13%, 09/15/39 | 150,000 | 162,524 |
| 4.13%, 04/01/40 (a) | 350,000 | 305,805 |
| 2.70%, 08/21/40 (a) | 400,000 | 288,692 |
| 5.30%, 12/05/43 (a) | 250,000 | 249,000 |
| 5.13%, 07/20/45 (a) | 950,000 | 918,336 |
| 5.05%, 03/25/48 (a) | 2,400,000 | 2,299,752 |
| 4.25%, 04/01/50 (a) | 250,000 | 215,610 |
| Danaher Corp. | ||
| 3.35%, 09/15/25 (a) | 150,000 | 147,957 |
| 4.38%, 09/15/45 (a) | 50,000 | 46,580 |
| 2.60%, 10/01/50 (a) | 250,000 | 174,730 |
| 2.80%, 12/10/51 (a) | 250,000 | 180,760 |
| Dartmouth-Hitchcock Health | ||
| 4.18%, 08/01/48 (a) | 150,000 | 135,879 |
| DENTSPLY SIRONA, Inc. | ||
| 3.25%, 06/01/30 (a) | 200,000 | 168,982 |
| DH Europe Finance II Sarl | ||
| 2.20%, 11/15/24 (a) | 200,000 | 192,212 |
| 2.60%, 11/15/29 (a) | 250,000 | 224,332 |
| 3.25%, 11/15/39 (a) | 450,000 | 374,494 |
| 3.40%, 11/15/49 (a) | 350,000 | 284,000 |
| Diageo Capital PLC | ||
| 2.13%, 10/24/24 (a) | 200,000 | 193,268 |
| 1.38%, 09/29/25 (a) | 300,000 | 280,197 |
| 3.88%, 05/18/28 (a) | 250,000 | 248,647 |
| 2.38%, 10/24/29 (a) | 200,000 | 177,572 |
| 2.00%, 04/29/30 (a) | 450,000 | 384,912 |
| 2.13%, 04/29/32 (a) | 250,000 | 208,668 |
| 5.88%, 09/30/36 | 400,000 | 450,552 |
| 3.88%, 04/29/43 (a) | 50,000 | 45,059 |
| Diageo Investment Corp. | ||
| 4.25%, 05/11/42 | 100,000 | 94,749 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Dignity Health | ||
| 4.50%, 11/01/42 | 100,000 | 91,846 |
| 5.27%, 11/01/64 | 100,000 | 97,394 |
| Duke University Health System, Inc. | ||
| 3.92%, 06/01/47 (a) | 200,000 | 182,606 |
| Edwards Lifesciences Corp. | ||
| 4.30%, 06/15/28 (a) | 250,000 | 244,280 |
| Eli Lilly & Co. | ||
| 2.75%, 06/01/25 (a) | 50,000 | 49,255 |
| 3.10%, 05/15/27 (a) | 250,000 | 243,692 |
| 3.38%, 03/15/29 (a) | 350,000 | 341,288 |
| 3.70%, 03/01/45 (a) | 50,000 | 46,096 |
| 3.95%, 05/15/47 (a) | 100,000 | 96,338 |
| 3.95%, 03/15/49 (a) | 350,000 | 338,156 |
| 2.25%, 05/15/50 (a) | 450,000 | 318,402 |
| 4.15%, 03/15/59 (a) | 225,000 | 217,166 |
| 2.50%, 09/15/60 (a) | 300,000 | 206,967 |
| Estee Lauder Cos., Inc. | ||
| 2.00%, 12/01/24 (a) | 100,000 | 97,033 |
| 3.15%, 03/15/27 (a) | 250,000 | 243,325 |
| 2.38%, 12/01/29 (a) | 200,000 | 178,238 |
| 2.60%, 04/15/30 (a) | 250,000 | 224,822 |
| 4.38%, 06/15/45 (a) | 150,000 | 142,106 |
| 4.15%, 03/15/47 (a) | 250,000 | 233,485 |
| 3.13%, 12/01/49 (a) | 300,000 | 239,190 |
| Flowers Foods, Inc. | ||
| 2.40%, 03/15/31 (a) | 200,000 | 164,380 |
| Fomento Economico Mexicano S.A.B. de C.V. | ||
| 4.38%, 05/10/43 | 250,000 | 225,972 |
| 3.50%, 01/16/50 (a) | 800,000 | 619,744 |
| Franciscan Missionaries of Our Lady Health System, Inc. | ||
| 3.91%, 07/01/49 (a) | 50,000 | 43,580 |
| General Mills, Inc. | ||
| 3.65%, 02/15/24 (a) | 200,000 | 201,394 |
| 4.00%, 04/17/25 (a) | 400,000 | 400,160 |
| 3.20%, 02/10/27 (a) | 300,000 | 288,483 |
| 4.20%, 04/17/28 (a) | 325,000 | 322,371 |
| 2.88%, 04/15/30 (a) | 350,000 | 309,928 |
| 4.70%, 04/17/48 (a) | 50,000 | 47,770 |
| 3.00%, 02/01/51 (a) | 401,000 | 292,108 |
| Gilead Sciences, Inc. | ||
| 2.50%, 09/01/23 (a) | 250,000 | 247,655 |
| 0.75%, 09/29/23 (a) | 412,000 | 398,952 |
| 3.70%, 04/01/24 (a) | 600,000 | 600,978 |
| 3.50%, 02/01/25 (a) | 600,000 | 593,748 |
| 3.65%, 03/01/26 (a) | 700,000 | 689,752 |
| 2.95%, 03/01/27 (a) | 350,000 | 331,597 |
| 1.20%, 10/01/27 (a) | 400,000 | 344,628 |
| 4.60%, 09/01/35 (a) | 550,000 | 545,550 |
| 4.00%, 09/01/36 (a) | 300,000 | 280,161 |
| 5.65%, 12/01/41 (a) | 200,000 | 214,642 |
| 4.80%, 04/01/44 (a) | 650,000 | 631,033 |
| 4.50%, 02/01/45 (a) | 400,000 | 370,908 |
| 4.75%, 03/01/46 (a) | 650,000 | 624,286 |
| 4.15%, 03/01/47 (a) | 625,000 | 553,244 |
| 2.80%, 10/01/50 (a) | 500,000 | 350,620 |
| GlaxoSmithKline Capital PLC | ||
| 0.53%, 10/01/23 (a) | 350,000 | 338,408 |
| 3.00%, 06/01/24 (a) | 300,000 | 297,690 |
| 3.38%, 06/01/29 (a) | 250,000 | 241,485 |
| GlaxoSmithKline Capital, Inc. | ||
| 3.63%, 05/15/25 | 350,000 | 351,246 |
| 3.88%, 05/15/28 | 500,000 | 498,185 |
| 5.38%, 04/15/34 | 180,000 | 197,710 |
70
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 6.38%, 05/15/38 | 775,000 | 928,527 |
| 4.20%, 03/18/43 | 175,000 | 165,286 |
| GSK Consumer Healthcare Capital UK PLC | ||
| 3.13%, 03/24/25 (c) | 500,000 | 487,945 |
| GSK Consumer Healthcare Capital US LLC | ||
| 3.02%, 03/24/24 (a)(c) | 250,000 | 246,602 |
| 3.38%, 03/24/27 (a)(c) | 500,000 | 478,615 |
| 3.38%, 03/24/29 (a)(c) | 300,000 | 281,013 |
| 3.63%, 03/24/32 (a)(c) | 700,000 | 646,317 |
| 4.00%, 03/24/52 (a)(c) | 300,000 | 259,032 |
| Hackensack Meridian Health, Inc. | ||
| 2.68%, 09/01/41 (a) | 250,000 | 190,518 |
| 4.21%, 07/01/48 (a) | 100,000 | 93,308 |
| 4.50%, 07/01/57 (a) | 150,000 | 144,818 |
| Hartford HealthCare Corp. | ||
| 3.45%, 07/01/54 | 150,000 | 122,091 |
| Hasbro, Inc. | ||
| 3.00%, 11/19/24 (a) | 150,000 | 146,220 |
| 3.55%, 11/19/26 (a) | 200,000 | 191,242 |
| 3.50%, 09/15/27 (a) | 100,000 | 94,479 |
| 3.90%, 11/19/29 (a) | 200,000 | 183,926 |
| 6.35%, 03/15/40 | 200,000 | 206,092 |
| 5.10%, 05/15/44 (a) | 150,000 | 135,818 |
| HCA, Inc. | ||
| 5.00%, 03/15/24 | 700,000 | 703,325 |
| 5.38%, 02/01/25 | 750,000 | 748,965 |
| 5.25%, 04/15/25 | 500,000 | 501,470 |
| 5.88%, 02/15/26 (a) | 500,000 | 503,665 |
| 5.25%, 06/15/26 (a) | 250,000 | 248,885 |
| 5.38%, 09/01/26 (a) | 250,000 | 248,070 |
| 4.50%, 02/15/27 (a) | 500,000 | 481,410 |
| 3.13%, 03/15/27 (a)(c) | 250,000 | 228,647 |
| 5.63%, 09/01/28 (a) | 500,000 | 492,535 |
| 5.88%, 02/01/29 (a) | 250,000 | 250,477 |
| 3.38%, 03/15/29 (a)(c) | 250,000 | 219,943 |
| 4.13%, 06/15/29 (a) | 650,000 | 593,677 |
| 3.50%, 09/01/30 (a) | 750,000 | 640,192 |
| 3.63%, 03/15/32 (a)(c) | 500,000 | 422,705 |
| 5.13%, 06/15/39 (a) | 400,000 | 350,860 |
| 4.38%, 03/15/42 (a)(c) | 250,000 | 200,530 |
| 5.50%, 06/15/47 (a) | 400,000 | 359,672 |
| 5.25%, 06/15/49 (a) | 700,000 | 605,066 |
| 3.50%, 07/15/51 (a) | 500,000 | 345,510 |
| 4.63%, 03/15/52 (a)(c) | 500,000 | 400,275 |
| Hershey Co. | ||
| 0.90%, 06/01/25 (a) | 200,000 | 185,534 |
| 2.30%, 08/15/26 (a) | 310,000 | 294,732 |
| 2.45%, 11/15/29 (a) | 100,000 | 89,771 |
| 3.13%, 11/15/49 (a) | 150,000 | 119,070 |
| 2.65%, 06/01/50 (a) | 250,000 | 184,033 |
| Hormel Foods Corp. | ||
| 0.65%, 06/03/24 (a) | 300,000 | 285,948 |
| 1.70%, 06/03/28 (a) | 150,000 | 132,626 |
| 1.80%, 06/11/30 (a) | 250,000 | 209,908 |
| 3.05%, 06/03/51 (a) | 250,000 | 192,183 |
| Hospital Special Surgery | ||
| Series 2020 2.67%, 10/01/50 (a) | 150,000 | 106,598 |
| IHC Health Services, Inc. | ||
| 4.13%, 05/15/48 (a) | 100,000 | 94,324 |
| Illumina, Inc. | ||
| 2.55%, 03/23/31 (a) | 225,000 | 183,161 |
| Indiana University Health, Inc. Obligated Group | ||
| 3.97%, 11/01/48 (a) | 190,000 | 171,944 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Ingredion, Inc. | ||
| 3.20%, 10/01/26 (a) | 150,000 | 143,670 |
| 2.90%, 06/01/30 (a) | 250,000 | 217,548 |
| 3.90%, 06/01/50 (a) | 100,000 | 81,106 |
| Integris Baptist Medical Center, Inc. | ||
| 3.88%, 08/15/50 (a) | 200,000 | 170,534 |
| Iowa Health System | ||
| Series 2020 3.67%, 02/15/50 (a) | 150,000 | 123,806 |
| JM Smucker Co. | ||
| 3.50%, 03/15/25 | 350,000 | 345,579 |
| 2.38%, 03/15/30 (a) | 250,000 | 212,745 |
| 2.13%, 03/15/32 (a) | 200,000 | 161,038 |
| 4.25%, 03/15/35 | 250,000 | 231,320 |
| 4.38%, 03/15/45 | 200,000 | 175,128 |
| 3.55%, 03/15/50 (a) | 100,000 | 75,446 |
| Johnson & Johnson | ||
| 3.38%, 12/05/23 | 250,000 | 251,675 |
| 2.63%, 01/15/25 (a) | 320,000 | 316,416 |
| 0.55%, 09/01/25 (a) | 450,000 | 415,462 |
| 2.45%, 03/01/26 (a) | 600,000 | 583,524 |
| 2.95%, 03/03/27 (a) | 400,000 | 391,332 |
| 0.95%, 09/01/27 (a) | 600,000 | 529,212 |
| 2.90%, 01/15/28 (a) | 350,000 | 338,583 |
| 6.95%, 09/01/29 | 100,000 | 123,851 |
| 1.30%, 09/01/30 (a) | 400,000 | 337,540 |
| 4.95%, 05/15/33 | 100,000 | 108,949 |
| 4.38%, 12/05/33 (a) | 100,000 | 103,483 |
| 3.55%, 03/01/36 (a) | 117,000 | 111,074 |
| 3.63%, 03/03/37 (a) | 550,000 | 523,314 |
| 3.40%, 01/15/38 (a) | 350,000 | 315,787 |
| 5.85%, 07/15/38 | 382,000 | 442,738 |
| 2.10%, 09/01/40 (a) | 400,000 | 293,272 |
| 4.50%, 09/01/40 | 50,000 | 50,734 |
| 4.85%, 05/15/41 | 150,000 | 158,528 |
| 4.50%, 12/05/43 (a) | 200,000 | 201,844 |
| 3.70%, 03/01/46 (a) | 775,000 | 716,549 |
| 3.75%, 03/03/47 (a) | 200,000 | 185,868 |
| 3.50%, 01/15/48 (a) | 50,000 | 44,852 |
| 2.25%, 09/01/50 (a) | 450,000 | 315,481 |
| 2.45%, 09/01/60 (a) | 550,000 | 374,418 |
| Kaiser Foundation Hospitals | ||
| 3.15%, 05/01/27 (a) | 350,000 | 340,732 |
| 2.81%, 06/01/41 (a) | 400,000 | 307,824 |
| 4.88%, 04/01/42 | 50,000 | 51,109 |
| 4.15%, 05/01/47 (a) | 275,000 | 257,260 |
| 3.27%, 11/01/49 (a) | 550,000 | 435,292 |
| 3.00%, 06/01/51 (a) | 400,000 | 299,336 |
| Kellogg Co. | ||
| 2.65%, 12/01/23 | 350,000 | 346,878 |
| 4.30%, 05/15/28 (a) | 350,000 | 349,643 |
| 2.10%, 06/01/30 (a) | 250,000 | 207,730 |
| 7.45%, 04/01/31 | 50,000 | 57,875 |
| 4.50%, 04/01/46 | 231,000 | 213,167 |
| Keurig Dr Pepper, Inc. | ||
| 3.13%, 12/15/23 (a) | 150,000 | 149,732 |
| 4.42%, 05/25/25 (a) | 550,000 | 555,390 |
| 3.40%, 11/15/25 (a) | 200,000 | 195,604 |
| 2.55%, 09/15/26 (a) | 250,000 | 233,042 |
| 3.43%, 06/15/27 (a) | 200,000 | 191,274 |
| 4.60%, 05/25/28 (a) | 500,000 | 500,805 |
| 3.20%, 05/01/30 (a) | 300,000 | 268,521 |
| 2.25%, 03/15/31 (a) | 250,000 | 205,905 |
| 4.50%, 11/15/45 (a) | 250,000 | 221,927 |
| 4.42%, 12/15/46 (a) | 200,000 | 177,742 |
71
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.80%, 05/01/50 (a) | 250,000 | 199,090 |
| 4.50%, 04/15/52 (a) | 400,000 | 352,948 |
| Kimberly-Clark Corp. | ||
| 2.75%, 02/15/26 | 150,000 | 146,027 |
| 1.05%, 09/15/27 (a) | 300,000 | 262,014 |
| 3.95%, 11/01/28 (a) | 200,000 | 199,604 |
| 3.20%, 04/25/29 (a) | 300,000 | 286,491 |
| 3.10%, 03/26/30 (a) | 200,000 | 187,934 |
| 6.63%, 08/01/37 | 300,000 | 366,096 |
| 5.30%, 03/01/41 | 300,000 | 317,562 |
| 3.20%, 07/30/46 (a) | 100,000 | 80,644 |
| Koninklijke Ahold Delhaize N.V. | ||
| 5.70%, 10/01/40 | 173,000 | 182,415 |
| Koninklijke Philips N.V. | ||
| 6.88%, 03/11/38 | 267,000 | 306,233 |
| 5.00%, 03/15/42 | 150,000 | 145,335 |
| Kraft Heinz Foods Co. | ||
| 3.00%, 06/01/26 (a) | 500,000 | 472,675 |
| 3.88%, 05/15/27 (a) | 400,000 | 387,264 |
| 4.63%, 01/30/29 (a) | 200,000 | 197,914 |
| 3.75%, 04/01/30 (a) | 250,000 | 231,227 |
| 5.00%, 07/15/35 (a) | 250,000 | 242,650 |
| 6.88%, 01/26/39 | 275,000 | 302,547 |
| 4.63%, 10/01/39 (a) | 175,000 | 153,475 |
| 6.50%, 02/09/40 | 250,000 | 267,925 |
| 5.00%, 06/04/42 | 500,000 | 458,085 |
| 5.20%, 07/15/45 (a) | 500,000 | 464,155 |
| 4.38%, 06/01/46 (a) | 850,000 | 708,594 |
| 4.88%, 10/01/49 (a) | 475,000 | 421,073 |
| 5.50%, 06/01/50 (a) | 250,000 | 241,402 |
| Kroger Co. | ||
| 4.00%, 02/01/24 (a) | 450,000 | 452,722 |
| 2.65%, 10/15/26 (a) | 200,000 | 187,522 |
| 4.50%, 01/15/29 (a) | 200,000 | 199,032 |
| 2.20%, 05/01/30 (a) | 250,000 | 211,148 |
| 1.70%, 01/15/31 (a) | 200,000 | 159,460 |
| 7.50%, 04/01/31 | 100,000 | 119,042 |
| 6.90%, 04/15/38 | 140,000 | 163,621 |
| 5.40%, 07/15/40 (a) | 50,000 | 50,724 |
| 5.00%, 04/15/42 (a) | 100,000 | 97,053 |
| 5.15%, 08/01/43 (a) | 67,000 | 66,069 |
| 3.88%, 10/15/46 (a) | 100,000 | 83,164 |
| 4.45%, 02/01/47 (a) | 350,000 | 317,950 |
| 4.65%, 01/15/48 (a) | 200,000 | 186,964 |
| 5.40%, 01/15/49 (a) | 200,000 | 209,336 |
| 3.95%, 01/15/50 (a) | 270,000 | 229,027 |
| Laboratory Corp. of America Holdings | ||
| 3.25%, 09/01/24 (a) | 600,000 | 591,492 |
| 2.30%, 12/01/24 (a) | 250,000 | 239,517 |
| 3.60%, 02/01/25 (a) | 150,000 | 147,917 |
| 2.95%, 12/01/29 (a) | 100,000 | 88,018 |
| 2.70%, 06/01/31 (a) | 250,000 | 210,523 |
| 4.70%, 02/01/45 (a) | 300,000 | 267,879 |
| Mass General Brigham, Inc. | ||
| 3.77%, 07/01/48 (a) | 100,000 | 87,862 |
| 3.19%, 07/01/49 (a) | 100,000 | 78,628 |
| 4.12%, 07/01/55 | 100,000 | 90,520 |
| 3.34%, 07/01/60 (a) | 150,000 | 112,695 |
| Mayo Clinic | ||
| 3.77%, 11/15/43 | 100,000 | 90,015 |
| 4.13%, 11/15/52 | 250,000 | 238,765 |
| McCormick & Co., Inc. | ||
| 3.15%, 08/15/24 (a) | 250,000 | 245,430 |
| 0.90%, 02/15/26 (a) | 150,000 | 133,173 |
| 3.40%, 08/15/27 (a) | 250,000 | 239,045 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.50%, 04/15/30 (a) | 200,000 | 171,024 |
| 4.20%, 08/15/47 (a) | 150,000 | 136,383 |
| McKesson Corp. | ||
| 3.80%, 03/15/24 (a) | 300,000 | 300,795 |
| 0.90%, 12/03/25 (a) | 250,000 | 225,317 |
| 3.95%, 02/16/28 (a) | 200,000 | 195,164 |
| McLaren Health Care Corp. | ||
| Series A 4.39%, 05/15/48 (a) | 150,000 | 143,508 |
| Mead Johnson Nutrition Co. | ||
| 4.13%, 11/15/25 (a) | 200,000 | 201,450 |
| 5.90%, 11/01/39 | 150,000 | 168,219 |
| 4.60%, 06/01/44 (a) | 200,000 | 194,902 |
| MedStar Health, Inc. | ||
| 3.63%, 08/15/49 | 125,000 | 103,548 |
| Medtronic, Inc. | ||
| 4.38%, 03/15/35 | 650,000 | 650,097 |
| 4.63%, 03/15/45 | 600,000 | 603,444 |
| Memorial Health Services | ||
| 3.45%, 11/01/49 (a) | 150,000 | 123,720 |
| Memorial Sloan-Kettering Cancer Center | ||
| 5.00%, 07/01/42 | 30,000 | 31,276 |
| 2.96%, 01/01/50 (a) | 100,000 | 76,144 |
| 4.13%, 07/01/52 | 200,000 | 187,498 |
| 4.20%, 07/01/55 | 200,000 | 183,690 |
| Merck & Co., Inc. | ||
| 2.75%, 02/10/25 (a) | 1,150,000 | 1,135,498 |
| 0.75%, 02/24/26 (a) | 100,000 | 90,731 |
| 1.70%, 06/10/27 (a) | 500,000 | 454,775 |
| 3.40%, 03/07/29 (a) | 600,000 | 581,358 |
| 1.45%, 06/24/30 (a) | 450,000 | 373,923 |
| 2.15%, 12/10/31 (a) | 700,000 | 603,029 |
| 6.50%, 12/01/33 (f) | 350,000 | 423,773 |
| 3.90%, 03/07/39 (a) | 350,000 | 331,317 |
| 2.35%, 06/24/40 (a) | 300,000 | 226,293 |
| 3.60%, 09/15/42 (a) | 200,000 | 175,628 |
| 4.15%, 05/18/43 | 400,000 | 379,908 |
| 3.70%, 02/10/45 (a) | 625,000 | 550,125 |
| 4.00%, 03/07/49 (a) | 450,000 | 417,843 |
| 2.45%, 06/24/50 (a) | 400,000 | 282,592 |
| 2.75%, 12/10/51 (a) | 625,000 | 463,719 |
| 2.90%, 12/10/61 (a) | 475,000 | 338,794 |
| Merck Sharp & Dohme Corp. | ||
| 5.95%, 12/01/28 | 50,000 | 55,215 |
| Methodist Hospital | ||
| 2.71%, 12/01/50 (a) | 225,000 | 159,041 |
| MidMichigan Health | ||
| 3.41%, 06/01/50 (a) | 150,000 | 121,182 |
| Molson Coors Beverage Co. | ||
| 3.00%, 07/15/26 (a) | 590,000 | 555,615 |
| 5.00%, 05/01/42 | 350,000 | 322,213 |
| 4.20%, 07/15/46 (a) | 575,000 | 471,437 |
| Mondelez International, Inc. | ||
| 1.50%, 05/04/25 (a) | 250,000 | 233,690 |
| 2.63%, 03/17/27 (a) | 250,000 | 234,137 |
| 2.75%, 04/13/30 (a) | 425,000 | 373,673 |
| 1.50%, 02/04/31 (a) | 200,000 | 157,322 |
| 3.00%, 03/17/32 (a) | 250,000 | 218,885 |
| 1.88%, 10/15/32 (a) | 250,000 | 194,908 |
| 2.63%, 09/04/50 (a) | 250,000 | 169,948 |
| Montefiore Obligated Group | ||
| 5.25%, 11/01/48 | 150,000 | 128,204 |
| 4.29%, 09/01/50 | 125,000 | 91,596 |
72
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Mount Sinai Hospitals Group, Inc. | ||
| 3.98%, 07/01/48 | 100,000 | 88,490 |
| 3.74%, 07/01/49 (a) | 150,000 | 126,792 |
| 3.39%, 07/01/50 (a) | 150,000 | 115,371 |
| MultiCare Health System | ||
| 2.80%, 08/15/50 (a) | 150,000 | 108,323 |
| Mylan, Inc. | ||
| 4.55%, 04/15/28 (a) | 250,000 | 238,542 |
| 5.40%, 11/29/43 (a) | 150,000 | 126,177 |
| 5.20%, 04/15/48 (a) | 250,000 | 200,533 |
| New York and Presbyterian Hospital | ||
| 2.26%, 08/01/40 (a) | 150,000 | 108,023 |
| 4.02%, 08/01/45 | 100,000 | 91,952 |
| 4.06%, 08/01/56 | 100,000 | 91,854 |
| 2.61%, 08/01/60 (a) | 100,000 | 64,331 |
| 3.95%, 08/01/19 (a) | 200,000 | 155,046 |
| Northwell Healthcare, Inc. | ||
| 3.98%, 11/01/46 (a) | 175,000 | 151,506 |
| 4.26%, 11/01/47 (a) | 250,000 | 226,912 |
| 3.81%, 11/01/49 (a) | 150,000 | 125,502 |
| Novant Health, Inc. | ||
| 2.64%, 11/01/36 (a) | 200,000 | 161,834 |
| 3.32%, 11/01/61 (a) | 250,000 | 191,930 |
| Novartis Capital Corp. | ||
| 3.40%, 05/06/24 | 350,000 | 351,746 |
| 1.75%, 02/14/25 (a) | 350,000 | 337,925 |
| 3.00%, 11/20/25 (a) | 550,000 | 542,960 |
| 2.00%, 02/14/27 (a) | 490,000 | 456,410 |
| 3.10%, 05/17/27 (a) | 350,000 | 341,736 |
| 2.20%, 08/14/30 (a) | 550,000 | 485,606 |
| 3.70%, 09/21/42 | 150,000 | 136,514 |
| 4.40%, 05/06/44 | 575,000 | 574,845 |
| 4.00%, 11/20/45 (a) | 400,000 | 372,884 |
| 2.75%, 08/14/50 (a) | 350,000 | 272,639 |
| NYU Langone Hospitals | ||
| 5.75%, 07/01/43 | 125,000 | 139,804 |
| 4.78%, 07/01/44 | 100,000 | 98,786 |
| 4.37%, 07/01/47 (a) | 180,000 | 164,828 |
| 3.38%, 07/01/55 (a) | 150,000 | 113,895 |
| OhioHealth Corp. | ||
| 2.30%, 11/15/31 (a) | 150,000 | 129,257 |
| 2.83%, 11/15/41 (a) | 50,000 | 38,866 |
| 3.04%, 11/15/50 (a) | 150,000 | 115,973 |
| Orlando Health Obligated Group | ||
| 4.09%, 10/01/48 (a) | 100,000 | 90,185 |
| 3.33%, 10/01/50 (a) | 150,000 | 120,029 |
| PeaceHealth Obligated Group | ||
| 1.38%, 11/15/25 (a) | 150,000 | 138,377 |
| 4.79%, 11/15/48 (a) | 100,000 | 99,767 |
| 3.22%, 11/15/50 (a) | 150,000 | 114,233 |
| PepsiCo, Inc. | ||
| 0.40%, 10/07/23 | 300,000 | 291,096 |
| 3.60%, 03/01/24 (a) | 550,000 | 553,624 |
| 2.25%, 03/19/25 (a) | 550,000 | 535,826 |
| 2.75%, 04/30/25 (a) | 300,000 | 295,656 |
| 3.50%, 07/17/25 (a) | 100,000 | 100,502 |
| 2.38%, 10/06/26 (a) | 300,000 | 288,330 |
| 2.63%, 03/19/27 (a) | 250,000 | 239,937 |
| 3.00%, 10/15/27 (a) | 500,000 | 487,155 |
| 2.63%, 07/29/29 (a) | 400,000 | 370,792 |
| 2.75%, 03/19/30 (a) | 500,000 | 460,805 |
| 1.63%, 05/01/30 (a) | 225,000 | 191,061 |
| 1.40%, 02/25/31 (a) | 200,000 | 164,460 |
| 1.95%, 10/21/31 (a) | 400,000 | 341,248 |
| 3.50%, 03/19/40 (a) | 300,000 | 268,602 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.00%, 03/05/42 | 250,000 | 235,485 |
| 3.60%, 08/13/42 | 245,000 | 218,383 |
| 4.45%, 04/14/46 (a) | 350,000 | 354,760 |
| 3.45%, 10/06/46 (a) | 400,000 | 345,732 |
| 4.00%, 05/02/47 (a) | 150,000 | 143,055 |
| 3.38%, 07/29/49 (a) | 250,000 | 215,195 |
| 2.88%, 10/15/49 (a) | 250,000 | 198,723 |
| 3.63%, 03/19/50 (a) | 300,000 | 272,664 |
| 3.88%, 03/19/60 (a) | 250,000 | 233,705 |
| PerkinElmer, Inc. | ||
| 0.55%, 09/15/23 (a) | 250,000 | 240,930 |
| 1.90%, 09/15/28 (a) | 250,000 | 208,520 |
| 3.30%, 09/15/29 (a) | 250,000 | 220,260 |
| 2.25%, 09/15/31 (a) | 250,000 | 198,015 |
| 3.63%, 03/15/51 (a) | 150,000 | 113,696 |
| Pfizer, Inc. | ||
| 3.20%, 09/15/23 (a) | 350,000 | 351,074 |
| 2.95%, 03/15/24 (a) | 268,000 | 266,915 |
| 3.40%, 05/15/24 | 250,000 | 251,495 |
| 0.80%, 05/28/25 (a) | 350,000 | 326,676 |
| 2.75%, 06/03/26 | 400,000 | 390,052 |
| 3.00%, 12/15/26 | 650,000 | 636,155 |
| 3.60%, 09/15/28 (a) | 250,000 | 248,972 |
| 3.45%, 03/15/29 (a) | 500,000 | 487,135 |
| 2.63%, 04/01/30 (a) | 500,000 | 456,775 |
| 1.70%, 05/28/30 (a) | 250,000 | 213,418 |
| 4.00%, 12/15/36 | 250,000 | 244,020 |
| 4.10%, 09/15/38 (a) | 200,000 | 193,504 |
| 3.90%, 03/15/39 (a) | 300,000 | 283,812 |
| 7.20%, 03/15/39 | 650,000 | 852,501 |
| 2.55%, 05/28/40 (a) | 250,000 | 197,190 |
| 5.60%, 09/15/40 | 200,000 | 224,486 |
| 4.30%, 06/15/43 | 150,000 | 145,383 |
| 4.40%, 05/15/44 | 350,000 | 344,155 |
| 4.13%, 12/15/46 | 550,000 | 529,991 |
| 4.20%, 09/15/48 (a) | 300,000 | 292,671 |
| 4.00%, 03/15/49 (a) | 250,000 | 235,802 |
| 2.70%, 05/28/50 (a) | 250,000 | 191,908 |
| Pharmacia LLC | ||
| 6.60%, 12/01/28 | 200,000 | 226,256 |
| Philip Morris International, Inc. | ||
| 2.88%, 05/01/24 (a) | 200,000 | 197,776 |
| 1.50%, 05/01/25 (a) | 200,000 | 187,366 |
| 3.38%, 08/11/25 (a) | 150,000 | 147,774 |
| 2.75%, 02/25/26 (a) | 330,000 | 315,463 |
| 0.88%, 05/01/26 (a) | 250,000 | 221,577 |
| 3.13%, 08/17/27 (a) | 50,000 | 46,985 |
| 3.13%, 03/02/28 (a) | 250,000 | 228,745 |
| 3.38%, 08/15/29 (a) | 250,000 | 225,715 |
| 2.10%, 05/01/30 (a) | 300,000 | 245,502 |
| 1.75%, 11/01/30 (a) | 250,000 | 193,918 |
| 6.38%, 05/16/38 | 400,000 | 421,384 |
| 4.38%, 11/15/41 | 250,000 | 209,263 |
| 4.50%, 03/20/42 | 250,000 | 213,793 |
| 3.88%, 08/21/42 | 250,000 | 196,283 |
| 4.13%, 03/04/43 | 300,000 | 242,640 |
| 4.88%, 11/15/43 | 175,000 | 156,335 |
| 4.25%, 11/10/44 | 400,000 | 326,468 |
| Piedmont Healthcare, Inc. | ||
| 2.04%, 01/01/32 (a) | 150,000 | 123,974 |
| Procter & Gamble Co. | ||
| 0.55%, 10/29/25 | 500,000 | 460,545 |
| 2.70%, 02/02/26 | 400,000 | 393,448 |
| 1.00%, 04/23/26 | 250,000 | 230,030 |
| 2.45%, 11/03/26 | 350,000 | 337,043 |
| 2.80%, 03/25/27 | 200,000 | 193,702 |
73
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.85%, 08/11/27 | 500,000 | 485,030 |
| 3.00%, 03/25/30 | 500,000 | 472,160 |
| 1.20%, 10/29/30 | 250,000 | 204,660 |
| 1.95%, 04/23/31 | 400,000 | 346,312 |
| 5.80%, 08/15/34 | 250,000 | 290,590 |
| 3.55%, 03/25/40 | 300,000 | 273,519 |
| 3.50%, 10/25/47 | 200,000 | 178,402 |
| 3.60%, 03/25/50 | 150,000 | 137,652 |
| Providence St Joseph Health Obligated Group | ||
| 2.53%, 10/01/29 (a) | 300,000 | 266,163 |
| 3.74%, 10/01/47 | 112,000 | 96,459 |
| 3.93%, 10/01/48 (a) | 125,000 | 110,130 |
| 2.70%, 10/01/51 (a) | 250,000 | 169,125 |
| Quest Diagnostics, Inc. | ||
| 3.50%, 03/30/25 (a) | 300,000 | 295,341 |
| 3.45%, 06/01/26 (a) | 100,000 | 97,495 |
| 4.20%, 06/30/29 (a) | 100,000 | 97,263 |
| 2.95%, 06/30/30 (a) | 300,000 | 264,636 |
| 2.80%, 06/30/31 (a) | 150,000 | 128,912 |
| 4.70%, 03/30/45 (a) | 100,000 | 90,762 |
| Regeneron Pharmaceuticals, Inc. | ||
| 1.75%, 09/15/30 (a) | 450,000 | 361,426 |
| 2.80%, 09/15/50 (a) | 250,000 | 170,218 |
| Reynolds American, Inc. | ||
| 4.45%, 06/12/25 (a) | 750,000 | 747,382 |
| 5.70%, 08/15/35 (a) | 300,000 | 280,803 |
| 7.25%, 06/15/37 | 225,000 | 235,966 |
| 6.15%, 09/15/43 | 200,000 | 182,876 |
| 5.85%, 08/15/45 (a) | 725,000 | 616,736 |
| Royalty Pharma PLC | ||
| 0.75%, 09/02/23 | 300,000 | 288,924 |
| 1.20%, 09/02/25 (a) | 350,000 | 313,659 |
| 1.75%, 09/02/27 (a) | 350,000 | 298,767 |
| 2.20%, 09/02/30 (a) | 350,000 | 282,628 |
| 2.15%, 09/02/31 (a) | 200,000 | 156,416 |
| 3.30%, 09/02/40 (a) | 350,000 | 259,122 |
| 3.55%, 09/02/50 (a) | 150,000 | 104,841 |
| 3.35%, 09/02/51 (a) | 250,000 | 169,828 |
| Rush Obligated Group | ||
| 3.92%, 11/15/29 (a) | 150,000 | 144,503 |
| RWJ Barnabas Health, Inc. | ||
| 3.95%, 07/01/46 (a) | 225,000 | 199,136 |
| 3.48%, 07/01/49 (a) | 50,000 | 41,242 |
| Sanofi | ||
| 3.63%, 06/19/28 (a) | 250,000 | 246,922 |
| Sharp HealthCare | ||
| 2.68%, 08/01/50 (a) | 150,000 | 106,214 |
| Shire Acquisitions Investments Ireland DAC | ||
| 2.88%, 09/23/23 (a) | 340,000 | 336,372 |
| 3.20%, 09/23/26 (a) | 900,000 | 864,414 |
| Smith & Nephew PLC | ||
| 2.03%, 10/14/30 (a) | 250,000 | 198,733 |
| Spectrum Health System Obligated Group | ||
| 3.49%, 07/15/49 (a) | 150,000 | 125,558 |
| SSM Health Care Corp. | ||
| 3.69%, 06/01/23 (a) | 200,000 | 200,202 |
| Stanford Health Care | ||
| 3.80%, 11/15/48 (a) | 200,000 | 176,898 |
| 3.03%, 08/15/51 (a) | 100,000 | 75,924 |
| STERIS Irish FinCo Unlimited Co. | ||
| 2.70%, 03/15/31 (a) | 200,000 | 169,114 |
| 3.75%, 03/15/51 (a) | 150,000 | 117,240 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Stryker Corp. | ||
| 3.38%, 05/15/24 (a) | 150,000 | 149,270 |
| 1.15%, 06/15/25 (a) | 200,000 | 184,878 |
| 3.38%, 11/01/25 (a) | 200,000 | 196,112 |
| 3.50%, 03/15/26 (a) | 340,000 | 333,747 |
| 3.65%, 03/07/28 (a) | 150,000 | 145,487 |
| 1.95%, 06/15/30 (a) | 400,000 | 333,112 |
| 4.10%, 04/01/43 (a) | 100,000 | 86,868 |
| 4.38%, 05/15/44 (a) | 100,000 | 90,863 |
| 4.63%, 03/15/46 (a) | 325,000 | 311,057 |
| 2.90%, 06/15/50 (a) | 250,000 | 181,148 |
| Summa Health | ||
| 3.51%, 11/15/51 (a) | 100,000 | 81,052 |
| Sutter Health | ||
| 1.32%, 08/15/25 (a) | 200,000 | 185,012 |
| 2.29%, 08/15/30 (a) | 200,000 | 171,868 |
| 3.16%, 08/15/40 (a) | 100,000 | 78,724 |
| 4.09%, 08/15/48 (a) | 150,000 | 132,788 |
| 3.36%, 08/15/50 (a) | 200,000 | 154,906 |
| Sysco Corp. | ||
| 3.75%, 10/01/25 (a) | 300,000 | 299,289 |
| 3.30%, 07/15/26 (a) | 250,000 | 242,115 |
| 3.25%, 07/15/27 (a) | 200,000 | 190,474 |
| 2.40%, 02/15/30 (a) | 200,000 | 171,252 |
| 5.95%, 04/01/30 (a) | 200,000 | 213,604 |
| 2.45%, 12/14/31 (a) | 200,000 | 166,338 |
| 5.38%, 09/21/35 | 200,000 | 206,812 |
| 6.60%, 04/01/40 (a) | 100,000 | 114,977 |
| 4.85%, 10/01/45 (a) | 175,000 | 163,317 |
| 4.50%, 04/01/46 (a) | 200,000 | 178,792 |
| 4.45%, 03/15/48 (a) | 175,000 | 153,550 |
| 3.30%, 02/15/50 (a) | 150,000 | 112,145 |
| 6.60%, 04/01/50 (a) | 431,000 | 498,163 |
| Takeda Pharmaceutical Co., Ltd. | ||
| 4.40%, 11/26/23 (a) | 500,000 | 503,820 |
| 5.00%, 11/26/28 (a) | 500,000 | 510,175 |
| 2.05%, 03/31/30 (a) | 750,000 | 627,517 |
| 3.03%, 07/09/40 (a) | 500,000 | 385,020 |
| 3.18%, 07/09/50 (a) | 600,000 | 448,458 |
| 3.38%, 07/09/60 (a) | 300,000 | 219,828 |
| Texas Health Resources | ||
| 2.33%, 11/15/50 (a) | 125,000 | 82,140 |
| 4.33%, 11/15/55 | 100,000 | 95,592 |
| Thermo Fisher Scientific, Inc. | ||
| 0.80%, 10/18/23 (a) | 300,000 | 291,192 |
| 1.22%, 10/18/24 (a) | 750,000 | 711,562 |
| 1.75%, 10/15/28 (a) | 200,000 | 175,124 |
| 2.60%, 10/01/29 (a) | 310,000 | 281,325 |
| 2.00%, 10/15/31 (a) | 400,000 | 335,824 |
| 2.80%, 10/15/41 (a) | 400,000 | 314,196 |
| 5.30%, 02/01/44 (a) | 148,000 | 158,795 |
| 4.10%, 08/15/47 (a) | 235,000 | 219,464 |
| Toledo Hospital | ||
| 5.33%, 11/15/28 | 75,000 | 70,656 |
| 5.75%, 11/15/38 (a) | 175,000 | 179,330 |
| 6.02%, 11/15/48 | 150,000 | 140,681 |
| Trinity Health Corp. | ||
| 4.13%, 12/01/45 | 225,000 | 208,271 |
| 3.43%, 12/01/48 | 100,000 | 84,018 |
| Tyson Foods, Inc. | ||
| 3.90%, 09/28/23 (a) | 150,000 | 150,527 |
| 3.95%, 08/15/24 (a) | 250,000 | 249,802 |
| 4.00%, 03/01/26 (a) | 250,000 | 248,265 |
| 3.55%, 06/02/27 (a) | 350,000 | 335,685 |
| 4.35%, 03/01/29 (a) | 260,000 | 257,709 |
| 4.88%, 08/15/34 (a) | 350,000 | 354,294 |
74
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.15%, 08/15/44 (a) | 225,000 | 223,947 |
| 4.55%, 06/02/47 (a) | 350,000 | 321,496 |
| 5.10%, 09/28/48 (a) | 210,000 | 212,470 |
| Unilever Capital Corp. | ||
| 0.38%, 09/14/23 | 150,000 | 145,305 |
| 3.25%, 03/07/24 (a) | 200,000 | 200,244 |
| 2.60%, 05/05/24 (a) | 300,000 | 295,710 |
| 3.10%, 07/30/25 | 200,000 | 197,870 |
| 2.00%, 07/28/26 | 350,000 | 329,868 |
| 2.90%, 05/05/27 (a) | 200,000 | 192,200 |
| 3.50%, 03/22/28 (a) | 550,000 | 538,758 |
| 2.13%, 09/06/29 (a) | 200,000 | 176,322 |
| 1.38%, 09/14/30 (a) | 150,000 | 122,139 |
| 1.75%, 08/12/31 (a) | 200,000 | 165,048 |
| 5.90%, 11/15/32 | 400,000 | 455,924 |
| 2.63%, 08/12/51 (a) | 200,000 | 145,172 |
| Universal Health Services, Inc. | ||
| 2.65%, 10/15/30 (a)(c) | 375,000 | 300,225 |
| 2.65%, 01/15/32 (a)(c) | 200,000 | 155,460 |
| UPMC | ||
| 3.60%, 04/03/25 | 100,000 | 99,381 |
| Utah Acquisition Sub, Inc. | ||
| 3.95%, 06/15/26 (a) | 700,000 | 660,541 |
| 5.25%, 06/15/46 (a) | 250,000 | 202,795 |
| Viatris, Inc. | ||
| 1.65%, 06/22/25 (a) | 250,000 | 226,817 |
| 2.30%, 06/22/27 (a) | 250,000 | 214,803 |
| 2.70%, 06/22/30 (a) | 400,000 | 321,676 |
| 3.85%, 06/22/40 (a) | 500,000 | 353,640 |
| 4.00%, 06/22/50 (a) | 625,000 | 417,081 |
| West Virginia United Health System Obligated Group | ||
| 3.13%, 06/01/50 (a) | 150,000 | 109,101 |
| Whirlpool Corp. | ||
| 4.00%, 03/01/24 | 100,000 | 100,764 |
| 3.70%, 05/01/25 | 100,000 | 99,890 |
| 4.75%, 02/26/29 (a) | 250,000 | 249,695 |
| 4.50%, 06/01/46 (a) | 150,000 | 127,220 |
| 4.60%, 05/15/50 (a) | 150,000 | 130,130 |
| Willis-Knighton Medical Center | ||
| 4.81%, 09/01/48 (a) | 100,000 | 100,739 |
| 3.07%, 03/01/51 (a) | 150,000 | 108,186 |
| Wyeth LLC | ||
| 6.50%, 02/01/34 | 450,000 | 538,564 |
| 6.00%, 02/15/36 | 250,000 | 287,732 |
| 5.95%, 04/01/37 | 550,000 | 635,910 |
| Yale-New Haven Health Services Corp. | ||
| 2.50%, 07/01/50 (a) | 200,000 | 137,534 |
| Zimmer Biomet Holdings, Inc. | ||
| 3.55%, 04/01/25 (a) | 350,000 | 345,646 |
| 3.05%, 01/15/26 (a) | 250,000 | 240,250 |
| 2.60%, 11/24/31 (a) | 250,000 | 204,445 |
| 4.45%, 08/15/45 (a) | 149,000 | 128,813 |
| Zoetis, Inc. | ||
| 3.00%, 09/12/27 (a) | 400,000 | 377,736 |
| 3.90%, 08/20/28 (a) | 320,000 | 310,477 |
| 2.00%, 05/15/30 (a) | 200,000 | 167,626 |
| 4.70%, 02/01/43 (a) | 350,000 | 337,876 |
| 4.45%, 08/20/48 (a) | 150,000 | 141,576 |
| 3.00%, 05/15/50 (a) | 250,000 | 186,803 |
| 269,604,251 | ||
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Energy 1.7% | ||
| Baker Hughes a GE Co., LLC/Baker Hughes Co-Obligor, Inc. | ||
| 3.34%, 12/15/27 (a) | 550,000 | 520,553 |
| 3.14%, 11/07/29 (a) | 200,000 | 181,120 |
| 4.49%, 05/01/30 (a) | 150,000 | 148,550 |
| 4.08%, 12/15/47 (a) | 575,000 | 487,790 |
| Baker Hughes Holdings LLC | ||
| 1.23%, 12/15/23 | 150,000 | 145,764 |
| 2.06%, 12/15/26 (a) | 100,000 | 91,969 |
| 5.13%, 09/15/40 | 150,000 | 147,080 |
| Boardwalk Pipelines LP | ||
| 4.95%, 12/15/24 (a) | 180,000 | 181,519 |
| 5.95%, 06/01/26 (a) | 150,000 | 155,639 |
| 4.45%, 07/15/27 (a) | 250,000 | 242,597 |
| 3.40%, 02/15/31 (a) | 350,000 | 300,002 |
| BP Capital Markets America, Inc. | ||
| 3.79%, 02/06/24 (a) | 325,000 | 326,648 |
| 3.19%, 04/06/25 (a) | 300,000 | 296,589 |
| 3.80%, 09/21/25 (a) | 350,000 | 351,120 |
| 3.41%, 02/11/26 (a) | 250,000 | 245,462 |
| 3.12%, 05/04/26 (a) | 300,000 | 290,556 |
| 3.02%, 01/16/27 (a) | 300,000 | 286,410 |
| 3.54%, 04/06/27 (a) | 150,000 | 146,144 |
| 3.59%, 04/14/27 (a) | 250,000 | 243,962 |
| 3.94%, 09/21/28 (a) | 350,000 | 342,443 |
| 4.23%, 11/06/28 (a) | 600,000 | 596,766 |
| 3.63%, 04/06/30 (a) | 500,000 | 474,185 |
| 1.75%, 08/10/30 (a) | 200,000 | 164,848 |
| 2.72%, 01/12/32 (a) | 500,000 | 431,130 |
| 3.06%, 06/17/41 (a) | 400,000 | 311,908 |
| 3.00%, 02/24/50 (a) | 700,000 | 510,545 |
| 2.77%, 11/10/50 (a) | 550,000 | 383,113 |
| 2.94%, 06/04/51 (a) | 750,000 | 536,805 |
| 3.00%, 03/17/52 (a) | 500,000 | 362,025 |
| 3.38%, 02/08/61 (a) | 400,000 | 297,276 |
| BP Capital Markets PLC | ||
| 3.28%, 09/19/27 (a) | 450,000 | 431,392 |
| 3.72%, 11/28/28 (a) | 250,000 | 242,305 |
| Canadian Natural Resources Ltd. | ||
| 3.80%, 04/15/24 (a) | 150,000 | 149,090 |
| 3.90%, 02/01/25 (a) | 100,000 | 99,163 |
| 2.05%, 07/15/25 (a) | 150,000 | 140,552 |
| 3.85%, 06/01/27 (a) | 200,000 | 192,186 |
| 2.95%, 07/15/30 (a) | 200,000 | 175,868 |
| 7.20%, 01/15/32 | 125,000 | 141,979 |
| 6.45%, 06/30/33 | 150,000 | 162,995 |
| 5.85%, 02/01/35 | 100,000 | 101,780 |
| 6.50%, 02/15/37 | 175,000 | 187,698 |
| 6.25%, 03/15/38 | 300,000 | 317,934 |
| 6.75%, 02/01/39 | 150,000 | 166,115 |
| 4.95%, 06/01/47 (a) | 250,000 | 238,815 |
| Cenovus Energy, Inc. | ||
| 5.38%, 07/15/25 (a) | 250,000 | 257,742 |
| 4.25%, 04/15/27 (a) | 300,000 | 294,819 |
| 4.40%, 04/15/29 (a) | 200,000 | 192,856 |
| 5.25%, 06/15/37 (a) | 250,000 | 244,992 |
| 6.80%, 09/15/37 | 150,000 | 166,647 |
| 6.75%, 11/15/39 | 500,000 | 534,795 |
| 5.40%, 06/15/47 (a) | 325,000 | 314,554 |
| Cheniere Corpus Christi Holdings LLC | ||
| 7.00%, 06/30/24 (a) | 525,000 | 544,703 |
| 5.88%, 03/31/25 (a) | 375,000 | 384,232 |
| 5.13%, 06/30/27 (a) | 650,000 | 652,996 |
| 3.70%, 11/15/29 (a) | 500,000 | 459,420 |
75
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Chevron Corp. | ||
| 2.90%, 03/03/24 (a) | 700,000 | 698,117 |
| 1.55%, 05/11/25 (a) | 950,000 | 901,084 |
| 3.33%, 11/17/25 (a) | 50,000 | 49,827 |
| 2.95%, 05/16/26 (a) | 300,000 | 293,235 |
| 2.00%, 05/11/27 (a) | 100,000 | 92,236 |
| 2.24%, 05/11/30 (a) | 350,000 | 308,329 |
| 3.08%, 05/11/50 (a) | 200,000 | 159,682 |
| Chevron USA, Inc. | ||
| 0.43%, 08/11/23 | 200,000 | 194,620 |
| 3.90%, 11/15/24 (a) | 170,000 | 171,771 |
| 0.69%, 08/12/25 (a) | 250,000 | 230,198 |
| 1.02%, 08/12/27 (a) | 250,000 | 218,493 |
| 3.85%, 01/15/28 (a) | 250,000 | 248,757 |
| 3.25%, 10/15/29 (a) | 50,000 | 47,403 |
| 6.00%, 03/01/41 (a) | 150,000 | 176,093 |
| 5.25%, 11/15/43 (a) | 200,000 | 213,348 |
| 2.34%, 08/12/50 (a) | 150,000 | 104,015 |
| Columbia Pipeline Group, Inc. | ||
| 4.50%, 06/01/25 (a) | 483,000 | 487,922 |
| 5.80%, 06/01/45 (a) | 100,000 | 103,571 |
| ConocoPhillips Co. | ||
| 2.13%, 03/08/24 (a) | 400,000 | 392,828 |
| 2.40%, 03/07/25 (a) | 250,000 | 241,430 |
| 6.95%, 04/15/29 | 300,000 | 343,644 |
| 5.90%, 10/15/32 | 100,000 | 110,388 |
| 6.50%, 02/01/39 | 500,000 | 588,810 |
| 3.76%, 03/15/42 (a)(c) | 400,000 | 351,208 |
| 4.30%, 11/15/44 (a) | 300,000 | 276,027 |
| 4.88%, 10/01/47 (a) | 150,000 | 150,419 |
| 3.80%, 03/15/52 (a) | 300,000 | 257,583 |
| 4.03%, 03/15/62 (a)(c) | 767,000 | 655,885 |
| Continental Resources, Inc. | ||
| 4.38%, 01/15/28 (a) | 375,000 | 352,987 |
| 4.90%, 06/01/44 (a) | 250,000 | 199,085 |
| Coterra Energy, Inc. | ||
| 4.38%, 06/01/24 (a)(c) | 250,000 | 250,055 |
| 3.90%, 05/15/27 (a)(c) | 200,000 | 192,694 |
| 4.38%, 03/15/29 (a)(c) | 200,000 | 197,034 |
| Devon Energy Corp. | ||
| 5.25%, 09/15/24 (a)(c) | 200,000 | 204,326 |
| 5.85%, 12/15/25 (a) | 150,000 | 156,507 |
| 5.25%, 10/15/27 (a) | 150,000 | 151,301 |
| 5.88%, 06/15/28 (a)(c) | 100,000 | 101,755 |
| 4.50%, 01/15/30 (a) | 195,000 | 184,119 |
| 7.88%, 09/30/31 | 150,000 | 176,406 |
| 7.95%, 04/15/32 | 100,000 | 118,652 |
| 5.60%, 07/15/41 (a) | 500,000 | 497,720 |
| 4.75%, 05/15/42 (a) | 150,000 | 136,115 |
| 5.00%, 06/15/45 (a) | 250,000 | 232,420 |
| Diamondback Energy, Inc. | ||
| 3.25%, 12/01/26 (a) | 300,000 | 293,118 |
| 3.50%, 12/01/29 (a) | 600,000 | 550,548 |
| 3.13%, 03/24/31 (a) | 50,000 | 43,565 |
| 4.40%, 03/24/51 (a) | 200,000 | 171,588 |
| 4.25%, 03/15/52 (a) | 150,000 | 124,784 |
| Eastern Energy Gas Holdings LLC | ||
| 3.55%, 11/01/23 (a) | 150,000 | 149,876 |
| 2.50%, 11/15/24 (a) | 150,000 | 145,022 |
| 3.60%, 12/15/24 (a) | 167,000 | 165,844 |
| Eastern Gas Transmission & Storage, Inc. | ||
| 3.00%, 11/15/29 (a)(c) | 150,000 | 136,028 |
| 4.80%, 11/01/43 (a)(c) | 100,000 | 94,221 |
| 4.60%, 12/15/44 (a)(c) | 150,000 | 138,914 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Enable Midstream Partners LP | ||
| 3.90%, 05/15/24 (a) | 100,000 | 98,989 |
| 4.95%, 05/15/28 (a) | 350,000 | 343,021 |
| 4.15%, 09/15/29 (a) | 200,000 | 183,654 |
| 5.00%, 05/15/44 (a) | 75,000 | 63,362 |
| Enbridge Energy Partners LP | ||
| 5.88%, 10/15/25 (a) | 150,000 | 157,005 |
| 7.50%, 04/15/38 | 100,000 | 118,793 |
| 5.50%, 09/15/40 (a) | 300,000 | 300,372 |
| 7.38%, 10/15/45 (a) | 150,000 | 179,936 |
| Enbridge, Inc. | ||
| 4.00%, 10/01/23 (a) | 250,000 | 250,735 |
| 1.60%, 10/04/26 (a) | 150,000 | 133,794 |
| 4.25%, 12/01/26 (a) | 850,000 | 841,908 |
| 3.70%, 07/15/27 (a) | 325,000 | 311,867 |
| 3.13%, 11/15/29 (a) | 350,000 | 317,446 |
| 2.50%, 08/01/33 (a) | 400,000 | 323,752 |
| 4.50%, 06/10/44 (a) | 250,000 | 219,568 |
| 5.50%, 12/01/46 (a) | 150,000 | 155,303 |
| 4.00%, 11/15/49 (a) | 250,000 | 210,800 |
| Energy Transfer Operating LP | ||
| 4.20%, 09/15/23 (a) | 50,000 | 50,075 |
| 5.88%, 01/15/24 (a) | 450,000 | 458,838 |
| 4.90%, 02/01/24 (a) | 100,000 | 100,875 |
| 4.50%, 04/15/24 (a) | 200,000 | 200,264 |
| 4.05%, 03/15/25 (a) | 200,000 | 197,220 |
| 2.90%, 05/15/25 (a) | 400,000 | 380,896 |
| 4.75%, 01/15/26 (a) | 350,000 | 349,436 |
| 4.40%, 03/15/27 (a) | 300,000 | 289,971 |
| 4.20%, 04/15/27 (a) | 250,000 | 240,720 |
| 5.50%, 06/01/27 (a) | 350,000 | 355,600 |
| 4.95%, 06/15/28 (a) | 350,000 | 345,163 |
| 5.25%, 04/15/29 (a) | 300,000 | 297,621 |
| 3.75%, 05/15/30 (a) | 500,000 | 450,815 |
| 4.90%, 03/15/35 (a) | 150,000 | 135,483 |
| 6.63%, 10/15/36 | 125,000 | 125,863 |
| 7.50%, 07/01/38 | 100,000 | 108,170 |
| 6.05%, 06/01/41 (a) | 250,000 | 243,952 |
| 6.50%, 02/01/42 (a) | 350,000 | 352,565 |
| 5.15%, 02/01/43 (a) | 100,000 | 86,141 |
| 5.95%, 10/01/43 (a) | 148,000 | 139,891 |
| 5.15%, 03/15/45 (a) | 350,000 | 300,832 |
| 6.13%, 12/15/45 (a) | 300,000 | 288,180 |
| 5.30%, 04/15/47 (a) | 300,000 | 261,456 |
| 6.00%, 06/15/48 (a) | 350,000 | 330,753 |
| 6.25%, 04/15/49 (a) | 500,000 | 485,565 |
| 5.00%, 05/15/50 (a) | 650,000 | 554,859 |
| Energy Transfer Partners LP/Regency Energy Finance Corp. | ||
| 4.50%, 11/01/23 (a) | 200,000 | 201,000 |
| Eni USA, Inc. | ||
| 7.30%, 11/15/27 | 150,000 | 167,930 |
| Enterprise Products Operating LLC | ||
| 3.90%, 02/15/24 (a) | 300,000 | 299,778 |
| 3.75%, 02/15/25 (a) | 400,000 | 396,256 |
| 3.70%, 02/15/26 (a) | 150,000 | 147,657 |
| 3.95%, 02/15/27 (a) | 25,000 | 24,711 |
| 4.15%, 10/16/28 (a) | 400,000 | 390,672 |
| 3.13%, 07/31/29 (a) | 450,000 | 405,360 |
| 2.80%, 01/31/30 (a) | 500,000 | 438,385 |
| 6.65%, 10/15/34 | 100,000 | 112,564 |
| 7.55%, 04/15/38 | 150,000 | 179,631 |
| 6.13%, 10/15/39 | 225,000 | 239,717 |
| 6.45%, 09/01/40 | 70,000 | 76,371 |
| 5.95%, 02/01/41 | 300,000 | 313,644 |
| 5.70%, 02/15/42 | 150,000 | 152,072 |
| 4.85%, 08/15/42 (a) | 300,000 | 277,479 |
76
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.45%, 02/15/43 (a) | 300,000 | 261,888 |
| 4.85%, 03/15/44 (a) | 400,000 | 365,708 |
| 5.10%, 02/15/45 (a) | 350,000 | 329,896 |
| 4.90%, 05/15/46 (a) | 250,000 | 230,088 |
| 4.25%, 02/15/48 (a) | 350,000 | 295,946 |
| 4.80%, 02/01/49 (a) | 450,000 | 409,162 |
| 4.20%, 01/31/50 (a) | 400,000 | 335,332 |
| 3.70%, 01/31/51 (a) | 325,000 | 254,316 |
| 3.20%, 02/15/52 (a) | 350,000 | 251,583 |
| 4.95%, 10/15/54 (a) | 175,000 | 160,580 |
| 3.95%, 01/31/60 (a) | 425,000 | 335,151 |
| 5.25%, 08/16/77 (a)(b) | 335,000 | 282,757 |
| 5.38%, 02/15/78 (a)(b) | 235,000 | 188,475 |
| EOG Resources, Inc. | ||
| 3.15%, 04/01/25 (a) | 250,000 | 246,190 |
| 4.15%, 01/15/26 (a) | 50,000 | 50,472 |
| 4.38%, 04/15/30 (a) | 300,000 | 301,575 |
| 3.90%, 04/01/35 (a) | 165,000 | 153,882 |
| 4.95%, 04/15/50 (a) | 200,000 | 207,260 |
| EQT Corp. | ||
| 6.63%, 02/01/25 (a)(f) | 300,000 | 309,429 |
| 3.90%, 10/01/27 (a) | 400,000 | 374,640 |
| 7.50%, 02/01/30 (a)(f) | 300,000 | 322,818 |
| Exxon Mobil Corp. | ||
| 3.18%, 03/15/24 (a) | 250,000 | 250,292 |
| 2.02%, 08/16/24 (a) | 325,000 | 317,395 |
| 2.71%, 03/06/25 (a) | 600,000 | 588,144 |
| 2.99%, 03/19/25 (a) | 900,000 | 887,553 |
| 3.04%, 03/01/26 (a) | 500,000 | 491,115 |
| 2.28%, 08/16/26 (a) | 300,000 | 285,081 |
| 3.29%, 03/19/27 (a) | 300,000 | 295,560 |
| 2.44%, 08/16/29 (a) | 450,000 | 405,207 |
| 3.48%, 03/19/30 (a) | 650,000 | 623,571 |
| 2.61%, 10/15/30 (a) | 600,000 | 539,358 |
| 3.00%, 08/16/39 (a) | 250,000 | 205,148 |
| 4.23%, 03/19/40 (a) | 550,000 | 520,014 |
| 3.57%, 03/06/45 (a) | 300,000 | 254,610 |
| 4.11%, 03/01/46 (a) | 750,000 | 686,370 |
| 3.10%, 08/16/49 (a) | 500,000 | 391,765 |
| 4.33%, 03/19/50 (a) | 875,000 | 826,919 |
| 3.45%, 04/15/51 (a) | 850,000 | 699,031 |
| Halliburton Co. | ||
| 3.50%, 08/01/23 (a) | 200,000 | 200,294 |
| 3.80%, 11/15/25 (a) | 159,000 | 157,677 |
| 2.92%, 03/01/30 (a) | 300,000 | 266,235 |
| 4.85%, 11/15/35 (a) | 300,000 | 288,564 |
| 6.70%, 09/15/38 | 250,000 | 275,590 |
| 7.45%, 09/15/39 | 300,000 | 353,490 |
| 4.50%, 11/15/41 (a) | 200,000 | 175,534 |
| 4.75%, 08/01/43 (a) | 200,000 | 178,916 |
| 5.00%, 11/15/45 (a) | 600,000 | 552,612 |
| Helmerich and Payne, Inc. | ||
| 2.90%, 09/29/31 (a) | 200,000 | 171,556 |
| Hess Corp. | ||
| 3.50%, 07/15/24 (a) | 100,000 | 98,512 |
| 4.30%, 04/01/27 (a) | 200,000 | 195,300 |
| 7.88%, 10/01/29 | 250,000 | 288,540 |
| 7.30%, 08/15/31 | 163,000 | 182,756 |
| 7.13%, 03/15/33 | 150,000 | 167,543 |
| 6.00%, 01/15/40 | 250,000 | 256,470 |
| 5.60%, 02/15/41 | 400,000 | 391,148 |
| 5.80%, 04/01/47 (a) | 150,000 | 150,581 |
| HF Sinclair Corp. | ||
| 5.88%, 04/01/26 (a)(c) | 260,000 | 262,902 |
| 4.50%, 10/01/30 (a)(c) | 125,000 | 113,916 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Kinder Morgan Energy Partners LP | ||
| 3.50%, 09/01/23 (a) | 250,000 | 249,367 |
| 4.15%, 02/01/24 (a) | 200,000 | 200,124 |
| 4.30%, 05/01/24 (a) | 350,000 | 350,777 |
| 5.80%, 03/15/35 | 300,000 | 305,553 |
| 6.50%, 02/01/37 | 200,000 | 212,718 |
| 6.95%, 01/15/38 | 350,000 | 379,127 |
| 6.50%, 09/01/39 | 250,000 | 258,257 |
| 6.55%, 09/15/40 | 100,000 | 104,655 |
| 7.50%, 11/15/40 | 150,000 | 168,267 |
| 6.38%, 03/01/41 | 300,000 | 302,163 |
| 5.63%, 09/01/41 | 250,000 | 233,760 |
| 5.00%, 08/15/42 (a) | 300,000 | 263,796 |
| 4.70%, 11/01/42 (a) | 100,000 | 84,951 |
| 5.00%, 03/01/43 (a) | 300,000 | 263,529 |
| 5.50%, 03/01/44 (a) | 100,000 | 93,708 |
| 5.40%, 09/01/44 (a) | 350,000 | 323,036 |
| Kinder Morgan, Inc. | ||
| 4.30%, 06/01/25 (a) | 750,000 | 748,035 |
| 4.30%, 03/01/28 (a) | 390,000 | 380,620 |
| 2.00%, 02/15/31 (a) | 350,000 | 280,161 |
| 7.80%, 08/01/31 | 200,000 | 233,042 |
| 7.75%, 01/15/32 | 250,000 | 291,837 |
| 5.55%, 06/01/45 (a) | 550,000 | 519,849 |
| 5.05%, 02/15/46 (a) | 150,000 | 134,462 |
| 5.20%, 03/01/48 (a) | 296,000 | 271,470 |
| 3.25%, 08/01/50 (a) | 250,000 | 174,600 |
| Magellan Midstream Partners LP | ||
| 3.25%, 06/01/30 (a) | 250,000 | 221,875 |
| 5.15%, 10/15/43 (a) | 250,000 | 232,128 |
| 4.25%, 09/15/46 (a) | 150,000 | 127,236 |
| 4.20%, 10/03/47 (a) | 150,000 | 123,924 |
| 4.85%, 02/01/49 (a) | 99,000 | 89,245 |
| 3.95%, 03/01/50 (a) | 300,000 | 237,609 |
| Marathon Oil Corp. | ||
| 4.40%, 07/15/27 (a) | 300,000 | 293,412 |
| 6.80%, 03/15/32 | 188,000 | 204,089 |
| 6.60%, 10/01/37 | 250,000 | 265,062 |
| 5.20%, 06/01/45 (a) | 175,000 | 161,229 |
| Marathon Petroleum Corp. | ||
| 3.63%, 09/15/24 (a) | 250,000 | 247,905 |
| 4.70%, 05/01/25 (a) | 400,000 | 405,448 |
| 5.13%, 12/15/26 (a) | 200,000 | 205,324 |
| 3.80%, 04/01/28 (a) | 150,000 | 142,010 |
| 6.50%, 03/01/41 (a) | 400,000 | 436,976 |
| 4.75%, 09/15/44 (a) | 250,000 | 221,118 |
| 4.50%, 04/01/48 (a) | 150,000 | 127,122 |
| 5.00%, 09/15/54 (a) | 150,000 | 133,722 |
| MPLX LP | ||
| 4.50%, 07/15/23 (a) | 350,000 | 350,899 |
| 4.88%, 12/01/24 (a) | 375,000 | 378,022 |
| 4.00%, 02/15/25 (a) | 150,000 | 148,028 |
| 4.88%, 06/01/25 (a) | 350,000 | 352,135 |
| 1.75%, 03/01/26 (a) | 450,000 | 406,120 |
| 4.13%, 03/01/27 (a) | 450,000 | 435,735 |
| 4.25%, 12/01/27 (a) | 246,000 | 237,442 |
| 4.00%, 03/15/28 (a) | 175,000 | 166,196 |
| 4.80%, 02/15/29 (a) | 250,000 | 246,562 |
| 2.65%, 08/15/30 (a) | 500,000 | 417,640 |
| 4.50%, 04/15/38 (a) | 500,000 | 438,485 |
| 5.20%, 03/01/47 (a) | 300,000 | 272,433 |
| 5.20%, 12/01/47 (a) | 200,000 | 180,750 |
| 4.70%, 04/15/48 (a) | 500,000 | 421,755 |
| 5.50%, 02/15/49 (a) | 425,000 | 396,682 |
| 4.95%, 03/14/52 (a) | 400,000 | 347,276 |
| 4.90%, 04/15/58 (a) | 200,000 | 167,432 |
77
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| National Fuel Gas Co. | ||
| 5.20%, 07/15/25 (a) | 150,000 | 151,889 |
| 5.50%, 01/15/26 (a) | 150,000 | 150,660 |
| 3.95%, 09/15/27 (a) | 150,000 | 140,391 |
| 4.75%, 09/01/28 (a) | 200,000 | 196,542 |
| Northwest Pipeline LLC | ||
| 4.00%, 04/01/27 (a) | 250,000 | 244,855 |
| NOV, Inc. | ||
| 3.60%, 12/01/29 (a) | 200,000 | 179,796 |
| 3.95%, 12/01/42 (a) | 350,000 | 259,847 |
| ONEOK Partners LP | ||
| 5.00%, 09/15/23 (a) | 150,000 | 151,632 |
| 4.90%, 03/15/25 (a) | 200,000 | 201,926 |
| 6.65%, 10/01/36 | 250,000 | 256,105 |
| 6.85%, 10/15/37 | 250,000 | 257,592 |
| 6.13%, 02/01/41 (a) | 50,000 | 47,952 |
| 6.20%, 09/15/43 (a) | 150,000 | 142,073 |
| ONEOK, Inc. | ||
| 7.50%, 09/01/23 (a) | 200,000 | 206,858 |
| 2.75%, 09/01/24 (a) | 150,000 | 145,328 |
| 2.20%, 09/15/25 (a) | 150,000 | 140,003 |
| 5.85%, 01/15/26 (a) | 200,000 | 207,464 |
| 4.55%, 07/15/28 (a) | 275,000 | 266,208 |
| 4.35%, 03/15/29 (a) | 250,000 | 235,735 |
| 3.40%, 09/01/29 (a) | 250,000 | 221,090 |
| 3.10%, 03/15/30 (a) | 200,000 | 172,022 |
| 6.35%, 01/15/31 (a) | 200,000 | 209,668 |
| 6.00%, 06/15/35 | 100,000 | 98,637 |
| 4.95%, 07/13/47 (a) | 225,000 | 192,364 |
| 5.20%, 07/15/48 (a) | 300,000 | 266,460 |
| 4.45%, 09/01/49 (a) | 250,000 | 202,085 |
| 4.50%, 03/15/50 (a) | 50,000 | 40,061 |
| 7.15%, 01/15/51 (a) | 100,000 | 106,939 |
| Ovintiv Exploration, Inc. | ||
| 5.38%, 01/01/26 (a) | 300,000 | 303,984 |
| Ovintiv, Inc. | ||
| 7.20%, 11/01/31 | 100,000 | 109,230 |
| 7.38%, 11/01/31 | 200,000 | 220,918 |
| 6.50%, 08/15/34 | 100,000 | 104,387 |
| 6.63%, 08/15/37 | 100,000 | 105,050 |
| 6.50%, 02/01/38 | 200,000 | 208,170 |
| Phillips 66 | ||
| 3.85%, 04/09/25 (a) | 200,000 | 199,148 |
| 1.30%, 02/15/26 (a) | 200,000 | 180,354 |
| 3.90%, 03/15/28 (a) | 300,000 | 291,753 |
| 2.15%, 12/15/30 (a) | 300,000 | 245,121 |
| 4.65%, 11/15/34 (a) | 350,000 | 340,448 |
| 5.88%, 05/01/42 | 400,000 | 434,636 |
| 4.88%, 11/15/44 (a) | 525,000 | 510,300 |
| 3.30%, 03/15/52 (a) | 325,000 | 243,028 |
| Phillips 66 Partners LP | ||
| 2.45%, 12/15/24 (a)(c) | 100,000 | 95,840 |
| 3.61%, 02/15/25 (a)(c) | 200,000 | 197,916 |
| 3.75%, 03/01/28 (a) | 175,000 | 166,705 |
| 3.15%, 12/15/29 (a)(c) | 300,000 | 270,087 |
| 4.68%, 02/15/45 (a)(c) | 100,000 | 92,479 |
| 4.90%, 10/01/46 (a)(c) | 175,000 | 167,339 |
| Pioneer Natural Resources Co. | ||
| 1.13%, 01/15/26 (a) | 300,000 | 268,455 |
| 1.90%, 08/15/30 (a) | 400,000 | 326,868 |
| 2.15%, 01/15/31 (a) | 350,000 | 288,645 |
| Plains All American Pipeline LP | ||
| 6.65%, 01/15/37 | 250,000 | 250,590 |
| 4.30%, 01/31/43 (a) | 150,000 | 113,616 |
| 4.90%, 02/15/45 (a) | 200,000 | 162,066 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Plains All American Pipeline LP/PAA Finance Corp. | ||
| 3.85%, 10/15/23 (a) | 200,000 | 199,242 |
| 4.65%, 10/15/25 (a) | 600,000 | 596,184 |
| 4.50%, 12/15/26 (a) | 260,000 | 255,640 |
| 3.55%, 12/15/29 (a) | 150,000 | 132,626 |
| 3.80%, 09/15/30 (a) | 250,000 | 221,575 |
| 5.15%, 06/01/42 (a) | 150,000 | 125,898 |
| 4.70%, 06/15/44 (a) | 100,000 | 79,719 |
| Sabine Pass Liquefaction LLC | ||
| 5.63%, 03/01/25 (a) | 750,000 | 766,792 |
| 5.88%, 06/30/26 (a) | 500,000 | 516,670 |
| 5.00%, 03/15/27 (a) | 400,000 | 402,088 |
| 4.20%, 03/15/28 (a) | 450,000 | 433,111 |
| 4.50%, 05/15/30 (a) | 525,000 | 505,139 |
| Schlumberger Finance Canada Ltd. | ||
| 1.40%, 09/17/25 (a) | 200,000 | 186,326 |
| Schlumberger Investment S.A. | ||
| 3.65%, 12/01/23 (a) | 450,000 | 452,043 |
| 2.65%, 06/26/30 (a) | 400,000 | 352,064 |
| Shell International Finance BV | ||
| 3.50%, 11/13/23 (a) | 300,000 | 302,037 |
| 2.00%, 11/07/24 (a) | 300,000 | 291,708 |
| 3.25%, 05/11/25 | 1,050,000 | 1,040,098 |
| 2.88%, 05/10/26 | 500,000 | 484,165 |
| 2.50%, 09/12/26 | 400,000 | 380,380 |
| 3.88%, 11/13/28 (a) | 600,000 | 592,380 |
| 2.38%, 11/07/29 (a) | 475,000 | 420,090 |
| 2.75%, 04/06/30 (a) | 700,000 | 632,604 |
| 4.13%, 05/11/35 | 500,000 | 478,395 |
| 6.38%, 12/15/38 | 1,150,000 | 1,342,268 |
| 3.63%, 08/21/42 | 150,000 | 127,869 |
| 4.55%, 08/12/43 | 825,000 | 785,738 |
| 4.38%, 05/11/45 | 250,000 | 232,815 |
| 4.00%, 05/10/46 | 725,000 | 643,017 |
| 3.75%, 09/12/46 | 400,000 | 341,012 |
| 3.13%, 11/07/49 (a) | 500,000 | 385,775 |
| 3.25%, 04/06/50 (a) | 750,000 | 593,767 |
| Spectra Energy Partners LP | ||
| 4.75%, 03/15/24 (a) | 300,000 | 302,745 |
| 3.50%, 03/15/25 (a) | 200,000 | 196,152 |
| 5.95%, 09/25/43 (a) | 250,000 | 262,462 |
| 4.50%, 03/15/45 (a) | 100,000 | 87,366 |
| Suncor Energy, Inc. | ||
| 5.35%, 07/15/33 | 200,000 | 200,750 |
| 5.95%, 12/01/34 | 250,000 | 262,272 |
| 5.95%, 05/15/35 | 200,000 | 209,568 |
| 6.80%, 05/15/38 | 350,000 | 394,607 |
| 6.50%, 06/15/38 | 425,000 | 468,227 |
| 6.85%, 06/01/39 | 150,000 | 171,462 |
| 4.00%, 11/15/47 (a) | 150,000 | 128,351 |
| 3.75%, 03/04/51 (a) | 200,000 | 162,974 |
| Sunoco Logistics Partners Operations LP | ||
| 4.25%, 04/01/24 (a) | 100,000 | 99,782 |
| 5.95%, 12/01/25 (a) | 125,000 | 129,646 |
| 4.00%, 10/01/27 (a) | 300,000 | 283,971 |
| 6.10%, 02/15/42 | 100,000 | 96,238 |
| 4.95%, 01/15/43 (a) | 150,000 | 125,649 |
| 5.30%, 04/01/44 (a) | 250,000 | 217,770 |
| 5.35%, 05/15/45 (a) | 250,000 | 219,875 |
| 5.40%, 10/01/47 (a) | 400,000 | 352,332 |
| Targa Resources Corp. | ||
| 5.20%, 07/01/27 (a)(g) | 225,000 | 226,193 |
| 4.20%, 02/01/33 (a) | 200,000 | 181,358 |
| 4.95%, 04/15/52 (a) | 200,000 | 172,430 |
78
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||
| 6.50%, 07/15/27 (a) | 350,000 | 358,123 |
| 5.50%, 03/01/30 (a) | 200,000 | 190,584 |
| 4.88%, 02/01/31 (a) | 350,000 | 319,658 |
| 4.00%, 01/15/32 (a) | 500,000 | 429,190 |
| TC PipeLines LP | ||
| 4.38%, 03/13/25 (a) | 200,000 | 201,144 |
| 3.90%, 05/25/27 (a) | 100,000 | 98,295 |
| Tennessee Gas Pipeline Co. LLC | ||
| 7.00%, 03/15/27 | 100,000 | 107,625 |
| TotalEnergies Capital Canada Ltd. | ||
| 2.75%, 07/15/23 | 350,000 | 347,543 |
| TotalEnergies Capital International S.A. | ||
| 3.70%, 01/15/24 | 200,000 | 200,620 |
| 3.75%, 04/10/24 | 400,000 | 401,440 |
| 2.43%, 01/10/25 (a) | 350,000 | 340,413 |
| 3.46%, 02/19/29 (a) | 356,000 | 339,724 |
| 2.83%, 01/10/30 (a) | 375,000 | 340,294 |
| 2.99%, 06/29/41 (a) | 275,000 | 217,852 |
| 3.46%, 07/12/49 (a) | 300,000 | 242,985 |
| 3.13%, 05/29/50 (a) | 750,000 | 574,770 |
| 3.39%, 06/29/60 (a) | 300,000 | 230,712 |
| TotalEnergies Capital S.A. | ||
| 3.88%, 10/11/28 | 275,000 | 271,419 |
| TransCanada PipeLines Ltd. | ||
| 3.75%, 10/16/23 (a) | 300,000 | 300,348 |
| 1.00%, 10/12/24 (a) | 150,000 | 140,205 |
| 4.88%, 01/15/26 (a) | 350,000 | 355,754 |
| 4.25%, 05/15/28 (a) | 450,000 | 438,309 |
| 4.10%, 04/15/30 (a) | 150,000 | 143,499 |
| 2.50%, 10/12/31 (a) | 150,000 | 124,862 |
| 4.63%, 03/01/34 (a) | 400,000 | 384,416 |
| 6.20%, 10/15/37 | 250,000 | 272,512 |
| 4.75%, 05/15/38 (a) | 200,000 | 190,990 |
| 7.25%, 08/15/38 | 100,000 | 119,220 |
| 7.63%, 01/15/39 | 500,000 | 620,955 |
| 6.10%, 06/01/40 | 250,000 | 271,385 |
| 5.00%, 10/16/43 (a) | 350,000 | 335,366 |
| 4.88%, 05/15/48 (a) | 350,000 | 336,833 |
| 5.10%, 03/15/49 (a) | 400,000 | 397,560 |
| Transcontinental Gas Pipe Line Co. LLC | ||
| 7.85%, 02/01/26 (a) | 250,000 | 276,150 |
| 4.00%, 03/15/28 (a) | 150,000 | 145,898 |
| 3.25%, 05/15/30 (a) | 250,000 | 224,800 |
| 5.40%, 08/15/41 (a) | 150,000 | 149,753 |
| 4.45%, 08/01/42 (a) | 100,000 | 90,122 |
| 4.60%, 03/15/48 (a) | 200,000 | 183,124 |
| Valero Energy Corp. | ||
| 2.85%, 04/15/25 (a) | 74,000 | 71,582 |
| 3.40%, 09/15/26 (a) | 250,000 | 241,193 |
| 2.15%, 09/15/27 (a) | 200,000 | 178,514 |
| 4.35%, 06/01/28 (a) | 250,000 | 243,612 |
| 4.00%, 04/01/29 (a) | 450,000 | 425,565 |
| 7.50%, 04/15/32 | 150,000 | 173,822 |
| 6.63%, 06/15/37 | 450,000 | 489,996 |
| 4.90%, 03/15/45 | 250,000 | 229,773 |
| 3.65%, 12/01/51 (a) | 300,000 | 225,618 |
| 4.00%, 06/01/52 (a) | 150,000 | 119,616 |
| Valero Energy Partners LP | ||
| 4.50%, 03/15/28 (a) | 200,000 | 197,538 |
| Western Union Co. | ||
| 3.50%, 10/15/51 (a) | 250,000 | 186,623 |
| Williams Cos., Inc. | ||
| 4.50%, 11/15/23 (a) | 250,000 | 251,822 |
| 4.30%, 03/04/24 (a) | 250,000 | 251,192 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.55%, 06/24/24 (a) | 450,000 | 454,329 |
| 3.90%, 01/15/25 (a) | 237,000 | 234,426 |
| 4.00%, 09/15/25 (a) | 250,000 | 246,707 |
| 3.75%, 06/15/27 (a) | 500,000 | 478,615 |
| 3.50%, 11/15/30 (a) | 350,000 | 315,934 |
| 8.75%, 03/15/32 | 250,000 | 317,142 |
| 6.30%, 04/15/40 | 400,000 | 426,204 |
| 5.80%, 11/15/43 (a) | 200,000 | 200,238 |
| 5.75%, 06/24/44 (a) | 200,000 | 201,228 |
| 4.90%, 01/15/45 (a) | 225,000 | 202,487 |
| 5.10%, 09/15/45 (a) | 350,000 | 327,299 |
| 4.85%, 03/01/48 (a) | 300,000 | 272,472 |
| 127,040,525 | ||
| Industrial Other 0.1% | ||
| Boston University | ||
| 4.06%, 10/01/48 (a) | 180,000 | 170,174 |
| California Institute of Technology | ||
| 4.32%, 08/01/45 | 50,000 | 50,160 |
| 4.70%, 11/01/11 | 200,000 | 194,862 |
| 3.65%, 09/01/19 (a) | 200,000 | 150,328 |
| Cintas Corp. No. 2 | ||
| 3.70%, 04/01/27 (a) | 300,000 | 296,565 |
| Duke University | ||
| 2.68%, 10/01/44 | 200,000 | 154,988 |
| 2.76%, 10/01/50 | 100,000 | 74,977 |
| 2.83%, 10/01/55 | 200,000 | 153,270 |
| Emory University | ||
| 2.14%, 09/01/30 (a) | 200,000 | 175,328 |
| 2.97%, 09/01/50 (a) | 225,000 | 179,311 |
| George Washington University | ||
| 4.30%, 09/15/44 | 125,000 | 117,024 |
| 4.87%, 09/15/45 | 150,000 | 152,662 |
| 4.13%, 09/15/48 (a) | 285,000 | 261,801 |
| Georgetown University | ||
| 4.32%, 04/01/49 (a) | 76,000 | 69,814 |
| 2.94%, 04/01/50 | 175,000 | 124,729 |
| 5.22%, 10/01/18 (a) | 100,000 | 95,821 |
| Johns Hopkins University | ||
| 4.08%, 07/01/53 | 125,000 | 120,346 |
| 2.81%, 01/01/60 (a) | 350,000 | 254,159 |
| Leland Stanford Junior University | ||
| 3.65%, 05/01/48 (a) | 200,000 | 186,580 |
| 2.41%, 06/01/50 (a) | 250,000 | 180,295 |
| Massachusetts Institute of Technology | ||
| 3.96%, 07/01/38 | 50,000 | 49,155 |
| 2.99%, 07/01/50 (a) | 200,000 | 163,882 |
| 2.29%, 07/01/51 (a) | 150,000 | 104,447 |
| 5.60%, 07/01/11 | 240,000 | 286,915 |
| 4.68%, 07/01/14 | 200,000 | 201,340 |
| 3.89%, 07/01/16 | 150,000 | 126,765 |
| Northeastern University | ||
| 2.89%, 10/01/50 | 100,000 | 74,201 |
| Northwestern University | ||
| 4.64%, 12/01/44 | 200,000 | 206,860 |
| 2.64%, 12/01/50 (a) | 150,000 | 109,323 |
| 3.66%, 12/01/57 (a) | 100,000 | 87,256 |
| President and Fellows of Harvard College | ||
| 4.88%, 10/15/40 | 50,000 | 54,002 |
| 3.15%, 07/15/46 (a) | 207,000 | 177,983 |
| 2.52%, 10/15/50 (a) | 200,000 | 147,660 |
| 3.75%, 11/15/52 (a) | 150,000 | 142,143 |
| 3.30%, 07/15/56 (a) | 200,000 | 171,644 |
79
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Quanta Services, Inc. | ||
| 2.90%, 10/01/30 (a) | 200,000 | 164,756 |
| 2.35%, 01/15/32 (a) | 200,000 | 154,858 |
| 3.05%, 10/01/41 (a) | 200,000 | 138,876 |
| The American University | ||
| 3.67%, 04/01/49 | 200,000 | 172,808 |
| Trustees of Boston College | ||
| 3.13%, 07/01/52 | 150,000 | 115,282 |
| Trustees of Princeton University | ||
| 5.70%, 03/01/39 | 225,000 | 264,465 |
| 2.52%, 07/01/50 (a) | 200,000 | 149,988 |
| Trustees of the University of Pennsylvania | ||
| 2.40%, 10/01/50 (a) | 200,000 | 143,852 |
| 4.67%, 09/01/12 | 100,000 | 98,540 |
| 3.61%, 02/15/19 (a) | 125,000 | 95,564 |
| University of Chicago | ||
| 2.76%, 04/01/45 (a) | 150,000 | 122,832 |
| 2.55%, 04/01/50 (a) | 150,000 | 111,359 |
| 4.00%, 10/01/53 (a) | 100,000 | 96,547 |
| University of Notre Dame du Lac | ||
| 3.44%, 02/15/45 | 150,000 | 134,220 |
| 3.39%, 02/15/48 (a) | 149,000 | 132,139 |
| University of Southern California | ||
| 3.03%, 10/01/39 | 400,000 | 340,668 |
| 3.84%, 10/01/47 (a) | 200,000 | 185,720 |
| 5.25%, 10/01/11 | 100,000 | 104,382 |
| 3.23%, 10/01/20 (a) | 125,000 | 82,645 |
| William Marsh Rice University | ||
| 3.57%, 05/15/45 | 150,000 | 133,198 |
| 3.77%, 05/15/55 | 100,000 | 92,763 |
| Yale University | ||
| 0.87%, 04/15/25 (a) | 125,000 | 117,501 |
| 1.48%, 04/15/30 (a) | 300,000 | 254,505 |
| 2.40%, 04/15/50 (a) | 200,000 | 144,222 |
| 8,818,460 | ||
| Technology 2.4% | ||
| Adobe, Inc. | ||
| 1.90%, 02/01/25 (a) | 150,000 | 144,591 |
| 3.25%, 02/01/25 (a) | 330,000 | 328,786 |
| 2.15%, 02/01/27 (a) | 275,000 | 257,444 |
| 2.30%, 02/01/30 (a) | 400,000 | 354,084 |
| Alphabet, Inc. | ||
| 3.38%, 02/25/24 | 250,000 | 251,475 |
| 0.45%, 08/15/25 (a) | 350,000 | 322,371 |
| 2.00%, 08/15/26 (a) | 500,000 | 474,140 |
| 0.80%, 08/15/27 (a) | 250,000 | 217,268 |
| 1.10%, 08/15/30 (a) | 750,000 | 615,945 |
| 1.90%, 08/15/40 (a) | 450,000 | 322,555 |
| 2.05%, 08/15/50 (a) | 800,000 | 538,552 |
| 2.25%, 08/15/60 (a) | 650,000 | 423,910 |
| Altera Corp. | ||
| 4.10%, 11/15/23 | 250,000 | 252,763 |
| Amdocs Ltd. | ||
| 2.54%, 06/15/30 (a) | 250,000 | 212,435 |
| Analog Devices, Inc. | ||
| 2.95%, 04/01/25 (a) | 250,000 | 245,213 |
| 3.50%, 12/05/26 (a) | 200,000 | 197,782 |
| 1.70%, 10/01/28 (a) | 200,000 | 175,760 |
| 2.10%, 10/01/31 (a) | 350,000 | 298,792 |
| 2.80%, 10/01/41 (a) | 300,000 | 235,944 |
| 2.95%, 10/01/51 (a) | 250,000 | 192,010 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Apple Inc. | ||
| 3.00%, 02/09/24 (a) | 550,000 | 549,147 |
| 3.45%, 05/06/24 | 800,000 | 804,152 |
| 2.85%, 05/11/24 (a) | 450,000 | 447,466 |
| 1.80%, 09/11/24 (a) | 250,000 | 242,395 |
| 2.75%, 01/13/25 (a) | 500,000 | 494,620 |
| 2.50%, 02/09/25 | 500,000 | 490,800 |
| 1.13%, 05/11/25 (a) | 700,000 | 658,602 |
| 3.20%, 05/13/25 | 600,000 | 600,144 |
| 0.55%, 08/20/25 (a) | 400,000 | 367,492 |
| 0.70%, 02/08/26 (a) | 800,000 | 729,080 |
| 3.25%, 02/23/26 (a) | 850,000 | 844,016 |
| 2.45%, 08/04/26 (a) | 600,000 | 576,084 |
| 2.05%, 09/11/26 (a) | 650,000 | 612,891 |
| 3.35%, 02/09/27 (a) | 725,000 | 720,563 |
| 3.20%, 05/11/27 (a) | 550,000 | 542,201 |
| 3.00%, 06/20/27 (a) | 350,000 | 342,534 |
| 2.90%, 09/12/27 (a) | 550,000 | 531,041 |
| 3.00%, 11/13/27 (a) | 500,000 | 485,180 |
| 1.20%, 02/08/28 (a) | 750,000 | 656,722 |
| 1.40%, 08/05/28 (a) | 650,000 | 570,089 |
| 2.20%, 09/11/29 (a) | 550,000 | 495,374 |
| 1.65%, 05/11/30 (a) | 550,000 | 468,446 |
| 1.25%, 08/20/30 (a) | 400,000 | 328,884 |
| 1.65%, 02/08/31 (a) | 900,000 | 756,810 |
| 1.70%, 08/05/31 (a) | 350,000 | 293,622 |
| 4.50%, 02/23/36 (a) | 300,000 | 312,774 |
| 2.38%, 02/08/41 (a) | 650,000 | 498,160 |
| 3.85%, 05/04/43 | 1,000,000 | 922,810 |
| 4.45%, 05/06/44 | 230,000 | 230,009 |
| 3.45%, 02/09/45 | 850,000 | 742,322 |
| 4.38%, 05/13/45 | 700,000 | 693,833 |
| 4.65%, 02/23/46 (a) | 850,000 | 879,452 |
| 3.85%, 08/04/46 (a) | 288,000 | 264,324 |
| 4.25%, 02/09/47 (a) | 400,000 | 393,912 |
| 3.75%, 09/12/47 (a) | 350,000 | 317,362 |
| 3.75%, 11/13/47 (a) | 419,000 | 377,636 |
| 2.95%, 09/11/49 (a) | 650,000 | 511,946 |
| 2.65%, 05/11/50 (a) | 700,000 | 518,553 |
| 2.40%, 08/20/50 (a) | 600,000 | 423,804 |
| 2.65%, 02/08/51 (a) | 350,000 | 259,452 |
| 2.70%, 08/05/51 (a) | 500,000 | 374,850 |
| 2.55%, 08/20/60 (a) | 750,000 | 516,532 |
| 2.80%, 02/08/61 (a) | 450,000 | 323,428 |
| 2.85%, 08/05/61 (a) | 450,000 | 327,604 |
| Applied Materials, Inc. | ||
| 3.90%, 10/01/25 (a) | 250,000 | 252,740 |
| 3.30%, 04/01/27 (a) | 400,000 | 391,572 |
| 1.75%, 06/01/30 (a) | 250,000 | 210,725 |
| 5.10%, 10/01/35 (a) | 100,000 | 105,302 |
| 5.85%, 06/15/41 | 300,000 | 342,639 |
| 4.35%, 04/01/47 (a) | 100,000 | 97,099 |
| 2.75%, 06/01/50 (a) | 325,000 | 243,344 |
| Arrow Electronics, Inc. | ||
| 3.25%, 09/08/24 (a) | 300,000 | 293,682 |
| 4.00%, 04/01/25 (a) | 50,000 | 49,542 |
| 3.88%, 01/12/28 (a) | 225,000 | 214,542 |
| Autodesk, Inc. | ||
| 4.38%, 06/15/25 (a) | 500,000 | 505,660 |
| 2.85%, 01/15/30 (a) | 50,000 | 43,668 |
| Automatic Data Processing, Inc. | ||
| 3.38%, 09/15/25 (a) | 250,000 | 250,200 |
| 1.70%, 05/15/28 (a) | 350,000 | 315,357 |
| 1.25%, 09/01/30 (a) | 350,000 | 286,167 |
| Avnet, Inc. | ||
| 4.63%, 04/15/26 (a) | 250,000 | 251,450 |
80
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Baidu, Inc. | ||
| 3.88%, 09/29/23 (a) | 300,000 | 301,251 |
| 4.38%, 05/14/24 (a) | 250,000 | 251,960 |
| 3.08%, 04/07/25 (a) | 200,000 | 194,486 |
| 4.13%, 06/30/25 | 200,000 | 199,856 |
| 1.72%, 04/09/26 (a) | 200,000 | 182,906 |
| 3.63%, 07/06/27 | 200,000 | 193,020 |
| 4.38%, 03/29/28 (a) | 200,000 | 197,510 |
| 4.88%, 11/14/28 (a) | 200,000 | 202,698 |
| 2.38%, 10/09/30 (a) | 200,000 | 169,072 |
| 2.38%, 08/23/31 (a) | 200,000 | 166,934 |
| Broadcom Corp./Broadcom Cayman Finance Ltd. | ||
| 3.63%, 01/15/24 (a) | 300,000 | 299,856 |
| 3.13%, 01/15/25 (a) | 100,000 | 97,716 |
| 3.88%, 01/15/27 (a) | 1,000,000 | 964,740 |
| 3.50%, 01/15/28 (a) | 250,000 | 231,650 |
| Broadcom, Inc. | ||
| 3.63%, 10/15/24 (a) | 200,000 | 198,106 |
| 3.15%, 11/15/25 (a) | 350,000 | 337,456 |
| 3.46%, 09/15/26 (a) | 204,000 | 195,964 |
| 1.95%, 02/15/28 (a)(c) | 300,000 | 255,687 |
| 4.11%, 09/15/28 (a) | 400,000 | 380,012 |
| 4.75%, 04/15/29 (a) | 300,000 | 292,098 |
| 5.00%, 04/15/30 (a) | 150,000 | 147,729 |
| 4.15%, 11/15/30 (a) | 743,000 | 681,569 |
| 2.45%, 02/15/31 (a)(c) | 900,000 | 723,906 |
| 4.30%, 11/15/32 (a) | 750,000 | 683,220 |
| 2.60%, 02/15/33 (a)(c) | 600,000 | 463,830 |
| 3.42%, 04/15/33 (a)(c) | 600,000 | 496,596 |
| 3.47%, 04/15/34 (a)(c) | 850,000 | 692,325 |
| 3.14%, 11/15/35 (a)(c) | 1,131,000 | 864,378 |
| 3.19%, 11/15/36 (a)(c) | 707,000 | 537,681 |
| 4.93%, 05/15/37 (a)(c) | 855,000 | 768,705 |
| 3.50%, 02/15/41 (a)(c) | 1,000,000 | 756,280 |
| 3.75%, 02/15/51 (a)(c) | 550,000 | 407,929 |
| Broadridge Financial Solutions, Inc. | ||
| 3.40%, 06/27/26 (a) | 200,000 | 193,552 |
| 2.90%, 12/01/29 (a) | 250,000 | 219,420 |
| 2.60%, 05/01/31 (a) | 250,000 | 208,990 |
| Cadence Design Systems, Inc. | ||
| 4.38%, 10/15/24 (a) | 150,000 | 151,769 |
| CDW LLC | ||
| 4.25%, 04/01/28 (a) | 250,000 | 227,095 |
| 3.25%, 02/15/29 (a) | 200,000 | 168,652 |
| CDW LLC/CDW Finance Corp. | ||
| 5.50%, 12/01/24 (a) | 175,000 | 175,935 |
| 4.13%, 05/01/25 (a) | 200,000 | 194,716 |
| 2.67%, 12/01/26 (a) | 375,000 | 335,452 |
| 3.28%, 12/01/28 (a) | 150,000 | 129,624 |
| 3.57%, 12/01/31 (a) | 250,000 | 207,075 |
| CGI, Inc. | ||
| 1.45%, 09/14/26 (a) | 200,000 | 176,670 |
| Cisco Systems, Inc. | ||
| 2.20%, 09/20/23 (a) | 270,000 | 267,697 |
| 3.63%, 03/04/24 | 225,000 | 226,899 |
| 3.50%, 06/15/25 | 250,000 | 252,015 |
| 2.95%, 02/28/26 | 150,000 | 147,707 |
| 2.50%, 09/20/26 (a) | 450,000 | 432,711 |
| 5.90%, 02/15/39 | 500,000 | 569,910 |
| 5.50%, 01/15/40 | 800,000 | 877,344 |
| Citrix Systems, Inc. | ||
| 1.25%, 03/01/26 (a) | 200,000 | 193,438 |
| 4.50%, 12/01/27 (a) | 250,000 | 247,658 |
| 3.30%, 03/01/30 (a) | 300,000 | 293,523 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Corning, Inc. | ||
| 5.75%, 08/15/40 | 200,000 | 210,948 |
| 4.75%, 03/15/42 | 50,000 | 47,182 |
| 5.35%, 11/15/48 (a) | 150,000 | 148,718 |
| 3.90%, 11/15/49 (a) | 150,000 | 120,518 |
| 4.38%, 11/15/57 (a) | 300,000 | 249,024 |
| 5.85%, 11/15/68 (a) | 100,000 | 99,273 |
| 5.45%, 11/15/79 (a) | 350,000 | 316,701 |
| Dell International LLC/EMC Corp. | ||
| 4.00%, 07/15/24 (a) | 250,000 | 249,395 |
| 5.85%, 07/15/25 (a) | 200,000 | 206,572 |
| 6.02%, 06/15/26 (a) | 1,400,000 | 1,452,528 |
| 4.90%, 10/01/26 (a) | 500,000 | 500,795 |
| 6.10%, 07/15/27 (a) | 200,000 | 209,804 |
| 5.30%, 10/01/29 (a) | 550,000 | 542,778 |
| 6.20%, 07/15/30 (a) | 350,000 | 364,385 |
| 8.10%, 07/15/36 (a) | 301,000 | 353,437 |
| 3.38%, 12/15/41 (a)(c) | 250,000 | 179,065 |
| 8.35%, 07/15/46 (a) | 331,000 | 412,727 |
| 3.45%, 12/15/51 (a)(c) | 400,000 | 271,148 |
| Dell, Inc. | ||
| 7.10%, 04/15/28 | 50,000 | 54,556 |
| DXC Technology Co. | ||
| 1.80%, 09/15/26 (a) | 250,000 | 221,900 |
| Equifax, Inc. | ||
| 2.60%, 12/01/24 (a) | 300,000 | 289,659 |
| 2.60%, 12/15/25 (a) | 150,000 | 141,528 |
| 3.10%, 05/15/30 (a) | 200,000 | 175,878 |
| 2.35%, 09/15/31 (a) | 250,000 | 199,785 |
| Equinix, Inc. | ||
| 2.63%, 11/18/24 (a) | 400,000 | 384,252 |
| 1.00%, 09/15/25 (a) | 250,000 | 224,413 |
| 1.45%, 05/15/26 (a) | 350,000 | 311,640 |
| 2.90%, 11/18/26 (a) | 100,000 | 92,943 |
| 1.55%, 03/15/28 (a) | 250,000 | 210,518 |
| 3.20%, 11/18/29 (a) | 400,000 | 356,160 |
| 2.15%, 07/15/30 (a) | 400,000 | 325,120 |
| 2.50%, 05/15/31 (a) | 350,000 | 283,910 |
| 3.90%, 04/15/32 (a) | 350,000 | 316,711 |
| 3.00%, 07/15/50 (a) | 225,000 | 154,420 |
| 2.95%, 09/15/51 (a) | 200,000 | 135,282 |
| 3.40%, 02/15/52 (a) | 100,000 | 74,528 |
| FactSet Research Systems, Inc. | ||
| 3.45%, 03/01/32 (a) | 100,000 | 87,870 |
| Fidelity National Information Services, Inc. | ||
| 0.60%, 03/01/24 | 300,000 | 284,115 |
| 1.15%, 03/01/26 (a) | 350,000 | 310,650 |
| 1.65%, 03/01/28 (a) | 250,000 | 213,858 |
| 3.75%, 05/21/29 (a) | 50,000 | 46,793 |
| 2.25%, 03/01/31 (a) | 450,000 | 366,412 |
| 3.10%, 03/01/41 (a) | 250,000 | 183,303 |
| 4.50%, 08/15/46 (a) | 100,000 | 89,143 |
| Fiserv, Inc. | ||
| 3.80%, 10/01/23 (a) | 350,000 | 350,917 |
| 2.75%, 07/01/24 (a) | 600,000 | 585,816 |
| 3.85%, 06/01/25 (a) | 250,000 | 247,698 |
| 3.20%, 07/01/26 (a) | 650,000 | 617,662 |
| 2.25%, 06/01/27 (a) | 200,000 | 179,184 |
| 4.20%, 10/01/28 (a) | 300,000 | 290,199 |
| 3.50%, 07/01/29 (a) | 950,000 | 866,808 |
| 2.65%, 06/01/30 (a) | 200,000 | 169,374 |
| 4.40%, 07/01/49 (a) | 700,000 | 604,114 |
| Flex Ltd. | ||
| 4.75%, 06/15/25 (a) | 200,000 | 201,306 |
| 3.75%, 02/01/26 (a) | 200,000 | 191,448 |
81
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.88%, 06/15/29 (a) | 200,000 | 193,310 |
| 4.88%, 05/12/30 (a) | 250,000 | 238,738 |
| Fortinet, Inc. | ||
| 1.00%, 03/15/26 (a) | 200,000 | 176,506 |
| Genpact Luxembourg Sarl | ||
| 3.38%, 12/01/24 (a) | 250,000 | 245,998 |
| Global Payments, Inc. | ||
| 1.50%, 11/15/24 (a) | 200,000 | 187,682 |
| 2.65%, 02/15/25 (a) | 200,000 | 190,852 |
| 1.20%, 03/01/26 (a) | 600,000 | 529,608 |
| 4.45%, 06/01/28 (a) | 150,000 | 144,444 |
| 3.20%, 08/15/29 (a) | 400,000 | 349,972 |
| 2.90%, 05/15/30 (a) | 375,000 | 316,305 |
| 2.90%, 11/15/31 (a) | 250,000 | 205,003 |
| 4.15%, 08/15/49 (a) | 300,000 | 234,741 |
| Hewlett Packard Enterprise Co. | ||
| 1.45%, 04/01/24 (a) | 400,000 | 385,320 |
| 4.90%, 10/15/25 (a) | 900,000 | 916,533 |
| 1.75%, 04/01/26 (a) | 350,000 | 320,211 |
| 6.20%, 10/15/35 (a) | 250,000 | 265,885 |
| 6.35%, 10/15/45 (a) | 450,000 | 453,568 |
| HP, Inc. | ||
| 2.20%, 06/17/25 (a) | 500,000 | 472,645 |
| 1.45%, 06/17/26 (a) | 200,000 | 177,250 |
| 3.00%, 06/17/27 (a) | 350,000 | 323,680 |
| 4.00%, 04/15/29 (a) | 300,000 | 281,178 |
| 3.40%, 06/17/30 (a) | 300,000 | 261,933 |
| 2.65%, 06/17/31 (a) | 250,000 | 201,010 |
| 4.20%, 04/15/32 (a) | 300,000 | 267,957 |
| 5.50%, 01/15/33 (a) | 350,000 | 341,943 |
| 6.00%, 09/15/41 | 450,000 | 455,890 |
| Intel Corp. | ||
| 2.88%, 05/11/24 (a) | 200,000 | 199,466 |
| 3.40%, 03/25/25 (a) | 600,000 | 598,932 |
| 3.70%, 07/29/25 (a) | 650,000 | 653,620 |
| 2.60%, 05/19/26 (a) | 250,000 | 242,165 |
| 3.75%, 03/25/27 (a) | 250,000 | 251,265 |
| 3.15%, 05/11/27 (a) | 400,000 | 391,400 |
| 2.45%, 11/15/29 (a) | 700,000 | 625,086 |
| 3.90%, 03/25/30 (a) | 600,000 | 589,272 |
| 2.00%, 08/12/31 (a)(e) | 500,000 | 419,350 |
| 4.00%, 12/15/32 | 100,000 | 98,509 |
| 4.60%, 03/25/40 (a) | 250,000 | 244,713 |
| 2.80%, 08/12/41 (a) | 300,000 | 228,924 |
| 4.80%, 10/01/41 | 300,000 | 301,989 |
| 4.25%, 12/15/42 | 150,000 | 139,680 |
| 4.90%, 07/29/45 (a) | 200,000 | 199,746 |
| 4.10%, 05/19/46 (a) | 250,000 | 228,265 |
| 4.10%, 05/11/47 (a) | 325,000 | 296,537 |
| 3.73%, 12/08/47 (a) | 600,000 | 509,586 |
| 3.25%, 11/15/49 (a) | 650,000 | 508,917 |
| 4.75%, 03/25/50 (a) | 700,000 | 690,277 |
| 3.05%, 08/12/51 (a) | 350,000 | 261,387 |
| 3.10%, 02/15/60 (a) | 350,000 | 251,524 |
| 4.95%, 03/25/60 (a) | 350,000 | 356,555 |
| 3.20%, 08/12/61 (a) | 250,000 | 183,115 |
| International Business Machines Corp. | ||
| 3.38%, 08/01/23 | 300,000 | 300,711 |
| 3.63%, 02/12/24 | 800,000 | 802,672 |
| 3.00%, 05/15/24 | 750,000 | 744,292 |
| 7.00%, 10/30/25 | 150,000 | 164,844 |
| 3.45%, 02/19/26 | 700,000 | 691,474 |
| 3.30%, 05/15/26 | 800,000 | 781,664 |
| 3.30%, 01/27/27 | 350,000 | 340,315 |
| 2.20%, 02/09/27 (a) | 200,000 | 185,674 |
| 1.70%, 05/15/27 (a) | 100,000 | 90,040 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.50%, 05/15/29 | 1,050,000 | 994,980 |
| 1.95%, 05/15/30 (a) | 500,000 | 420,410 |
| 2.72%, 02/09/32 (a) | 150,000 | 130,290 |
| 5.88%, 11/29/32 | 300,000 | 330,030 |
| 4.15%, 05/15/39 | 750,000 | 676,702 |
| 2.85%, 05/15/40 (a) | 300,000 | 228,675 |
| 4.00%, 06/20/42 | 375,000 | 325,507 |
| 4.70%, 02/19/46 | 200,000 | 187,626 |
| 4.25%, 05/15/49 | 950,000 | 840,645 |
| 2.95%, 05/15/50 (a) | 300,000 | 217,143 |
| 3.43%, 02/09/52 (a) | 100,000 | 77,204 |
| 7.13%, 12/01/96 | 100,000 | 131,831 |
| Intuit, Inc. | ||
| 0.95%, 07/15/25 (a) | 300,000 | 276,891 |
| 1.35%, 07/15/27 (a) | 350,000 | 306,884 |
| 1.65%, 07/15/30 (a) | 50,000 | 41,219 |
| Jabil, Inc. | ||
| 3.95%, 01/12/28 (a) | 250,000 | 239,225 |
| 3.60%, 01/15/30 (a) | 100,000 | 89,271 |
| 3.00%, 01/15/31 (a) | 300,000 | 251,598 |
| Juniper Networks, Inc. | ||
| 1.20%, 12/10/25 (a) | 150,000 | 134,430 |
| 3.75%, 08/15/29 (a) | 250,000 | 229,640 |
| 2.00%, 12/10/30 (a) | 150,000 | 117,675 |
| Keysight Technologies, Inc. | ||
| 4.55%, 10/30/24 (a) | 100,000 | 101,587 |
| 4.60%, 04/06/27 (a) | 250,000 | 251,528 |
| 3.00%, 10/30/29 (a) | 200,000 | 178,256 |
| KLA Corp. | ||
| 4.65%, 11/01/24 (a) | 400,000 | 406,560 |
| 4.10%, 03/15/29 (a) | 174,000 | 172,707 |
| 4.65%, 07/15/32 (a) | 300,000 | 306,726 |
| 5.00%, 03/15/49 (a) | 150,000 | 151,956 |
| 3.30%, 03/01/50 (a) | 250,000 | 198,715 |
| 5.25%, 07/15/62 (a) | 250,000 | 257,395 |
| Kyndryl Holdings, Inc. | ||
| 2.05%, 10/15/26 (a)(c) | 250,000 | 211,748 |
| 3.15%, 10/15/31 (a)(c) | 250,000 | 184,160 |
| 4.10%, 10/15/41 (a)(c) | 200,000 | 132,734 |
| Lam Research Corp. | ||
| 3.80%, 03/15/25 (a) | 150,000 | 150,171 |
| 3.75%, 03/15/26 (a) | 250,000 | 249,805 |
| 4.00%, 03/15/29 (a) | 300,000 | 295,329 |
| 1.90%, 06/15/30 (a) | 250,000 | 211,510 |
| 4.88%, 03/15/49 (a) | 245,000 | 250,804 |
| 2.88%, 06/15/50 (a) | 300,000 | 221,421 |
| 3.13%, 06/15/60 (a) | 100,000 | 72,500 |
| Leidos, Inc. | ||
| 3.63%, 05/15/25 (a) | 200,000 | 196,158 |
| 4.38%, 05/15/30 (a) | 300,000 | 277,188 |
| 2.30%, 02/15/31 (a) | 250,000 | 198,730 |
| Marvell Technology, Inc. | ||
| 1.65%, 04/15/26 (a) | 250,000 | 224,358 |
| 2.45%, 04/15/28 (a) | 250,000 | 218,200 |
| 4.88%, 06/22/28 (a) | 164,000 | 162,091 |
| 2.95%, 04/15/31 (a) | 150,000 | 125,546 |
| Mastercard, Inc. | ||
| 3.38%, 04/01/24 | 250,000 | 250,573 |
| 2.00%, 03/03/25 (a) | 300,000 | 289,554 |
| 2.95%, 11/21/26 (a) | 200,000 | 195,216 |
| 3.30%, 03/26/27 (a) | 300,000 | 295,257 |
| 2.95%, 06/01/29 (a) | 350,000 | 328,555 |
| 3.35%, 03/26/30 (a) | 500,000 | 477,465 |
| 1.90%, 03/15/31 (a) | 100,000 | 85,473 |
| 2.00%, 11/18/31 (a) | 250,000 | 211,600 |
| 3.80%, 11/21/46 (a) | 225,000 | 205,004 |
82
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.95%, 02/26/48 (a) | 100,000 | 92,701 |
| 3.65%, 06/01/49 (a) | 300,000 | 266,721 |
| 3.85%, 03/26/50 (a) | 550,000 | 505,070 |
| 2.95%, 03/15/51 (a) | 250,000 | 194,783 |
| Maxim Integrated Products, Inc. | ||
| 3.45%, 06/15/27 (a) | 200,000 | 191,044 |
| Microchip Technology, Inc. | ||
| 4.33%, 06/01/23 (a) | 550,000 | 550,258 |
| 0.97%, 02/15/24 | 400,000 | 380,260 |
| 4.25%, 09/01/25 (a) | 450,000 | 440,154 |
| Micron Technology, Inc. | ||
| 4.98%, 02/06/26 (a) | 50,000 | 50,574 |
| 4.19%, 02/15/27 (a) | 300,000 | 293,487 |
| 5.33%, 02/06/29 (a) | 300,000 | 299,763 |
| 4.66%, 02/15/30 (a) | 350,000 | 336,395 |
| 2.70%, 04/15/32 (a) | 350,000 | 279,811 |
| 3.37%, 11/01/41 (a) | 200,000 | 145,692 |
| Microsoft Corp. | ||
| 2.00%, 08/08/23 (a) | 500,000 | 495,090 |
| 3.63%, 12/15/23 (a) | 550,000 | 555,555 |
| 2.88%, 02/06/24 (a) | 567,000 | 566,484 |
| 2.70%, 02/12/25 (a) | 750,000 | 744,675 |
| 3.13%, 11/03/25 (a) | 1,000,000 | 999,560 |
| 2.40%, 08/08/26 (a) | 1,250,000 | 1,205,687 |
| 3.30%, 02/06/27 (a) | 925,000 | 923,011 |
| 3.50%, 02/12/35 (a) | 600,000 | 577,146 |
| 4.20%, 11/03/35 (a) | 400,000 | 412,508 |
| 3.45%, 08/08/36 (a) | 750,000 | 709,132 |
| 4.10%, 02/06/37 (a) | 400,000 | 407,520 |
| 3.50%, 11/15/42 | 50,000 | 44,993 |
| 3.75%, 02/12/45 (a) | 75,000 | 68,886 |
| 4.45%, 11/03/45 (a) | 200,000 | 206,106 |
| 3.70%, 08/08/46 (a) | 550,000 | 514,173 |
| 4.25%, 02/06/47 (a) | 300,000 | 301,782 |
| 2.53%, 06/01/50 (a) | 1,900,000 | 1,400,205 |
| 2.92%, 03/17/52 (a) | 1,944,000 | 1,536,810 |
| 4.00%, 02/12/55 (a) | 200,000 | 191,776 |
| 3.95%, 08/08/56 (a) | 150,000 | 142,329 |
| 4.50%, 02/06/57 (a) | 250,000 | 263,045 |
| 2.68%, 06/01/60 (a) | 1,260,000 | 906,935 |
| 3.04%, 03/17/62 (a) | 641,000 | 499,801 |
| Moody's Corp. | ||
| 4.88%, 02/15/24 (a) | 100,000 | 101,939 |
| 3.75%, 03/24/25 (a) | 250,000 | 249,820 |
| 3.25%, 01/15/28 (a) | 100,000 | 94,688 |
| 4.25%, 02/01/29 (a) | 200,000 | 198,988 |
| 2.00%, 08/19/31 (a) | 200,000 | 163,484 |
| 2.75%, 08/19/41 (a) | 200,000 | 146,894 |
| 5.25%, 07/15/44 | 100,000 | 101,371 |
| 4.88%, 12/17/48 (a) | 150,000 | 148,143 |
| 3.25%, 05/20/50 (a) | 50,000 | 37,235 |
| 2.55%, 08/18/60 (a) | 250,000 | 155,595 |
| 3.10%, 11/29/61 (a) | 150,000 | 103,820 |
| Motorola Solutions, Inc. | ||
| 4.60%, 02/23/28 (a) | 200,000 | 195,344 |
| 4.60%, 05/23/29 (a) | 250,000 | 238,883 |
| 2.30%, 11/15/30 (a) | 300,000 | 234,918 |
| 2.75%, 05/24/31 (a) | 350,000 | 283,833 |
| 5.60%, 06/01/32 (a) | 200,000 | 201,724 |
| 5.50%, 09/01/44 | 150,000 | 140,198 |
| NetApp, Inc. | ||
| 3.30%, 09/29/24 (a) | 150,000 | 147,617 |
| 1.88%, 06/22/25 (a) | 250,000 | 233,270 |
| 2.38%, 06/22/27 (a) | 175,000 | 158,960 |
| 2.70%, 06/22/30 (a) | 250,000 | 211,095 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| NVIDIA Corp. | ||
| 0.58%, 06/14/24 (a) | 250,000 | 237,295 |
| 3.20%, 09/16/26 (a) | 400,000 | 397,000 |
| 2.85%, 04/01/30 (a) | 500,000 | 458,080 |
| 2.00%, 06/15/31 (a) | 450,000 | 382,662 |
| 3.50%, 04/01/40 (a) | 350,000 | 306,838 |
| 3.50%, 04/01/50 (a) | 650,000 | 553,156 |
| 3.70%, 04/01/60 (a) | 200,000 | 168,934 |
| NXP BV/NXP Funding LLC | ||
| 4.88%, 03/01/24 (a) | 250,000 | 252,683 |
| 5.35%, 03/01/26 (a) | 200,000 | 204,466 |
| 5.55%, 12/01/28 (a) | 250,000 | 255,003 |
| NXP BV/NXP Funding LLC/NXP USA, Inc. | ||
| 2.70%, 05/01/25 (a) | 200,000 | 190,748 |
| 3.88%, 06/18/26 (a) | 250,000 | 241,210 |
| 3.15%, 05/01/27 (a) | 300,000 | 280,533 |
| 4.30%, 06/18/29 (a) | 350,000 | 336,913 |
| 3.40%, 05/01/30 (a) | 450,000 | 401,391 |
| 2.65%, 02/15/32 (a) | 300,000 | 246,789 |
| 3.25%, 05/11/41 (a) | 250,000 | 191,923 |
| 3.25%, 11/30/51 (a) | 350,000 | 246,033 |
| Oracle Corp. | ||
| 3.63%, 07/15/23 | 200,000 | 199,846 |
| 2.40%, 09/15/23 (a) | 850,000 | 837,250 |
| 3.40%, 07/08/24 (a) | 650,000 | 641,764 |
| 2.95%, 11/15/24 (a) | 570,000 | 553,550 |
| 2.50%, 04/01/25 (a) | 1,100,000 | 1,045,308 |
| 2.95%, 05/15/25 (a) | 500,000 | 479,575 |
| 1.65%, 03/25/26 (a) | 900,000 | 806,526 |
| 2.65%, 07/15/26 (a) | 756,000 | 697,629 |
| 2.80%, 04/01/27 (a) | 750,000 | 685,297 |
| 3.25%, 11/15/27 (a) | 1,000,000 | 922,180 |
| 2.30%, 03/25/28 (a) | 650,000 | 559,975 |
| 2.95%, 04/01/30 (a) | 1,050,000 | 896,595 |
| 3.25%, 05/15/30 (a) | 150,000 | 130,464 |
| 2.88%, 03/25/31 (a) | 1,000,000 | 824,320 |
| 4.30%, 07/08/34 (a) | 600,000 | 527,094 |
| 3.90%, 05/15/35 (a) | 350,000 | 288,831 |
| 3.85%, 07/15/36 (a) | 350,000 | 281,684 |
| 3.80%, 11/15/37 (a) | 600,000 | 467,184 |
| 6.50%, 04/15/38 | 400,000 | 414,608 |
| 6.13%, 07/08/39 | 200,000 | 201,040 |
| 3.60%, 04/01/40 (a) | 950,000 | 712,452 |
| 5.38%, 07/15/40 | 700,000 | 638,078 |
| 3.65%, 03/25/41 (a) | 700,000 | 521,920 |
| 4.50%, 07/08/44 (a) | 250,000 | 204,560 |
| 4.13%, 05/15/45 (a) | 620,000 | 473,785 |
| 4.00%, 07/15/46 (a) | 900,000 | 668,817 |
| 4.00%, 11/15/47 (a) | 700,000 | 521,514 |
| 3.60%, 04/01/50 (a) | 1,400,000 | 978,222 |
| 3.95%, 03/25/51 (a) | 840,000 | 617,534 |
| 4.38%, 05/15/55 (a) | 425,000 | 320,735 |
| 3.85%, 04/01/60 (a) | 1,100,000 | 759,726 |
| 4.10%, 03/25/61 (a) | 500,000 | 358,540 |
| PayPal Holdings, Inc. | ||
| 2.40%, 10/01/24 (a) | 400,000 | 390,576 |
| 1.65%, 06/01/25 (a) | 350,000 | 330,249 |
| 2.65%, 10/01/26 (a) | 400,000 | 379,652 |
| 3.90%, 06/01/27 (a) | 150,000 | 149,409 |
| 2.85%, 10/01/29 (a) | 525,000 | 476,175 |
| 2.30%, 06/01/30 (a) | 300,000 | 258,483 |
| 4.40%, 06/01/32 (a) | 300,000 | 297,192 |
| 3.25%, 06/01/50 (a) | 200,000 | 151,156 |
| 5.05%, 06/01/52 (a) | 300,000 | 298,755 |
| 5.25%, 06/01/62 (a) | 150,000 | 148,536 |
83
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Qorvo, Inc. | ||
| 1.75%, 12/15/24 (a)(c) | 200,000 | 187,794 |
| 4.38%, 10/15/29 (a) | 250,000 | 220,558 |
| QUALCOMM, Inc. | ||
| 2.90%, 05/20/24 (a) | 125,000 | 124,448 |
| 3.45%, 05/20/25 (a) | 450,000 | 449,995 |
| 3.25%, 05/20/27 (a) | 350,000 | 342,555 |
| 1.30%, 05/20/28 (a) | 484,000 | 419,797 |
| 2.15%, 05/20/30 (a) | 400,000 | 351,248 |
| 1.65%, 05/20/32 (a) | 650,000 | 525,765 |
| 4.65%, 05/20/35 (a) | 300,000 | 308,571 |
| 4.80%, 05/20/45 (a) | 500,000 | 512,570 |
| 4.30%, 05/20/47 (a) | 400,000 | 384,336 |
| 3.25%, 05/20/50 (a) | 275,000 | 225,068 |
| 4.50%, 05/20/52 (a) | 300,000 | 297,642 |
| RELX Capital, Inc. | ||
| 4.00%, 03/18/29 (a) | 350,000 | 338,810 |
| 3.00%, 05/22/30 (a) | 200,000 | 179,806 |
| S&P Global, Inc. | ||
| 2.95%, 01/22/27 (a) | 150,000 | 144,392 |
| 2.45%, 03/01/27 (a)(c) | 400,000 | 374,728 |
| 4.75%, 08/01/28 (a)(c) | 250,000 | 254,685 |
| 2.70%, 03/01/29 (a)(c) | 400,000 | 364,384 |
| 4.25%, 05/01/29 (a)(c) | 200,000 | 198,310 |
| 2.50%, 12/01/29 (a) | 200,000 | 177,014 |
| 1.25%, 08/15/30 (a) | 250,000 | 198,428 |
| 2.90%, 03/01/32 (a)(c) | 400,000 | 356,652 |
| 3.25%, 12/01/49 (a) | 200,000 | 157,110 |
| 3.70%, 03/01/52 (a)(c) | 300,000 | 256,734 |
| 2.30%, 08/15/60 (a) | 200,000 | 123,380 |
| 3.90%, 03/01/62 (a)(c) | 200,000 | 170,310 |
| salesforce.com, Inc. | ||
| 0.63%, 07/15/24 (a) | 200,000 | 189,458 |
| 3.70%, 04/11/28 (a) | 525,000 | 519,188 |
| 1.50%, 07/15/28 (a) | 300,000 | 262,248 |
| 1.95%, 07/15/31 (a) | 500,000 | 425,735 |
| 2.70%, 07/15/41 (a) | 400,000 | 310,296 |
| 2.90%, 07/15/51 (a) | 550,000 | 417,450 |
| 3.05%, 07/15/61 (a) | 400,000 | 295,240 |
| ServiceNow, Inc. | ||
| 1.40%, 09/01/30 (a) | 550,000 | 431,007 |
| Skyworks Solutions, Inc. | ||
| 1.80%, 06/01/26 (a) | 200,000 | 177,548 |
| 3.00%, 06/01/31 (a) | 200,000 | 163,466 |
| SYNNEX Corp. | ||
| 1.25%, 08/09/24 (a)(c) | 250,000 | 233,345 |
| 1.75%, 08/09/26 (a)(c) | 400,000 | 353,304 |
| 2.65%, 08/09/31 (a)(c) | 250,000 | 202,090 |
| Teledyne FLIR LLC | ||
| 2.50%, 08/01/30 (a) | 200,000 | 165,676 |
| Tencent Music Entertainment Group | ||
| 1.38%, 09/03/25 (a) | 200,000 | 182,186 |
| 2.00%, 09/03/30 (a) | 200,000 | 156,828 |
| Texas Instruments, Inc. | ||
| 1.38%, 03/12/25 (a) | 250,000 | 236,950 |
| 1.13%, 09/15/26 (a) | 200,000 | 182,252 |
| 2.90%, 11/03/27 (a) | 200,000 | 191,498 |
| 2.25%, 09/04/29 (a) | 350,000 | 312,392 |
| 1.75%, 05/04/30 (a) | 250,000 | 214,053 |
| 1.90%, 09/15/31 (a) | 150,000 | 127,497 |
| 3.88%, 03/15/39 (a) | 50,000 | 47,169 |
| 4.15%, 05/15/48 (a) | 550,000 | 531,679 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Thomson Reuters Corp. | ||
| 4.30%, 11/23/23 (a) | 200,000 | 201,720 |
| 5.85%, 04/15/40 | 200,000 | 210,342 |
| 5.65%, 11/23/43 (a) | 150,000 | 152,675 |
| Trimble, Inc. | ||
| 4.75%, 12/01/24 (a) | 100,000 | 100,697 |
| 4.90%, 06/15/28 (a) | 175,000 | 169,971 |
| TSMC Arizona Corp. | ||
| 1.75%, 10/25/26 (a) | 300,000 | 275,664 |
| 3.88%, 04/22/27 (a) | 300,000 | 299,235 |
| 4.13%, 04/22/29 (a) | 200,000 | 199,734 |
| 2.50%, 10/25/31 (a) | 300,000 | 258,027 |
| 4.25%, 04/22/32 (a) | 300,000 | 296,736 |
| 3.13%, 10/25/41 (a) | 400,000 | 328,004 |
| 3.25%, 10/25/51 (a)(e) | 350,000 | 283,836 |
| 4.50%, 04/22/52 (a) | 300,000 | 296,280 |
| Tyco Electronics Group S.A. | ||
| 3.45%, 08/01/24 (a) | 165,000 | 164,675 |
| 3.70%, 02/15/26 (a) | 150,000 | 149,739 |
| 3.13%, 08/15/27 (a) | 150,000 | 144,354 |
| VeriSign, Inc. | ||
| 5.25%, 04/01/25 (a) | 150,000 | 151,608 |
| 4.75%, 07/15/27 (a) | 200,000 | 195,914 |
| 2.70%, 06/15/31 (a) | 250,000 | 201,445 |
| Verisk Analytics, Inc. | ||
| 4.00%, 06/15/25 (a) | 300,000 | 297,891 |
| 4.13%, 03/15/29 (a) | 175,000 | 168,550 |
| 5.50%, 06/15/45 (a) | 150,000 | 150,461 |
| 3.63%, 05/15/50 (a) | 100,000 | 77,857 |
| Visa, Inc. | ||
| 3.15%, 12/14/25 (a) | 1,250,000 | 1,234,400 |
| 1.90%, 04/15/27 (a) | 400,000 | 369,356 |
| 0.75%, 08/15/27 (a) | 150,000 | 130,116 |
| 2.75%, 09/15/27 (a) | 150,000 | 143,358 |
| 2.05%, 04/15/30 (a) | 550,000 | 482,531 |
| 1.10%, 02/15/31 (a) | 350,000 | 280,294 |
| 4.15%, 12/14/35 (a) | 500,000 | 499,035 |
| 2.70%, 04/15/40 (a) | 250,000 | 202,288 |
| 4.30%, 12/14/45 (a) | 1,150,000 | 1,136,579 |
| 3.65%, 09/15/47 (a) | 50,000 | 44,634 |
| 2.00%, 08/15/50 (a) | 550,000 | 365,865 |
| VMware, Inc. | ||
| 0.60%, 08/15/23 | 500,000 | 483,445 |
| 4.50%, 05/15/25 (a) | 350,000 | 351,844 |
| 1.40%, 08/15/26 (a) | 500,000 | 442,945 |
| 3.90%, 08/21/27 (a) | 500,000 | 480,530 |
| 4.70%, 05/15/30 (a) | 450,000 | 432,990 |
| 2.20%, 08/15/31 (a) | 500,000 | 393,870 |
| Western Digital Corp. | ||
| 4.75%, 02/15/26 (a) | 700,000 | 670,761 |
| 2.85%, 02/01/29 (a) | 200,000 | 163,118 |
| 3.10%, 02/01/32 (a) | 200,000 | 153,568 |
| Western Union Co. | ||
| 2.85%, 01/10/25 (a) | 200,000 | 192,252 |
| 1.35%, 03/15/26 (a) | 200,000 | 178,704 |
| 2.75%, 03/15/31 (a) | 150,000 | 123,519 |
| 6.20%, 11/17/36 | 50,000 | 50,468 |
| Workday, Inc. | ||
| 3.50%, 04/01/27 (a) | 300,000 | 287,769 |
| 3.70%, 04/01/29 (a) | 300,000 | 281,496 |
| 3.80%, 04/01/32 (a) | 300,000 | 274,557 |
| Xilinx, Inc. | ||
| 2.95%, 06/01/24 (a) | 250,000 | 248,333 |
| 2.38%, 06/01/30 (a) | 250,000 | 220,538 |
| 178,111,467 | ||
84
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Transportation 0.5% | ||
| American Airlines 2015-2 Class AA Pass-Through Trust | ||
| 3.60%, 03/22/29 | 143,157 | 131,161 |
| American Airlines 2016-1 Class AA Pass-Through Trust | ||
| 3.58%, 07/15/29 | 184,531 | 169,370 |
| American Airlines 2016-2 Class AA Pass-Through Trust | ||
| 3.20%, 12/15/29 | 445,200 | 405,782 |
| American Airlines 2017-2 Class AA Pass-Through Trust | ||
| 3.35%, 04/15/31 | 39,176 | 35,398 |
| American Airlines 2019-1 Class AA Pass-Through Trust | ||
| 3.15%, 08/15/33 | 312,050 | 273,806 |
| BNSF Funding Trust I | ||
| 6.61%, 12/15/55 (a)(b) | 100,000 | 98,543 |
| Burlington Northern Santa Fe LLC | ||
| 3.85%, 09/01/23 (a) | 325,000 | 327,015 |
| 3.40%, 09/01/24 (a) | 300,000 | 300,729 |
| 3.00%, 04/01/25 (a) | 240,000 | 238,265 |
| 7.00%, 12/15/25 | 150,000 | 166,394 |
| 3.25%, 06/15/27 (a) | 200,000 | 195,810 |
| 6.20%, 08/15/36 | 100,000 | 117,112 |
| 6.15%, 05/01/37 | 50,000 | 58,633 |
| 5.75%, 05/01/40 (a) | 50,000 | 55,164 |
| 5.05%, 03/01/41 (a) | 400,000 | 410,572 |
| 5.40%, 06/01/41 (a) | 250,000 | 266,055 |
| 4.40%, 03/15/42 (a) | 250,000 | 236,617 |
| 4.38%, 09/01/42 (a) | 350,000 | 332,283 |
| 4.45%, 03/15/43 (a) | 200,000 | 190,840 |
| 5.15%, 09/01/43 (a) | 550,000 | 571,318 |
| 4.90%, 04/01/44 (a) | 150,000 | 150,966 |
| 4.55%, 09/01/44 (a) | 425,000 | 410,129 |
| 4.70%, 09/01/45 (a) | 200,000 | 196,714 |
| 3.90%, 08/01/46 (a) | 100,000 | 89,025 |
| 4.05%, 06/15/48 (a) | 500,000 | 458,350 |
| 4.15%, 12/15/48 (a) | 300,000 | 277,242 |
| 3.05%, 02/15/51 (a) | 200,000 | 154,214 |
| 3.30%, 09/15/51 (a) | 450,000 | 363,042 |
| 2.88%, 06/15/52 (a) | 150,000 | 111,830 |
| Canadian National Railway Co. | ||
| 2.95%, 11/21/24 (a) | 150,000 | 147,705 |
| 6.90%, 07/15/28 | 150,000 | 170,794 |
| 6.38%, 11/15/37 | 150,000 | 172,552 |
| 3.20%, 08/02/46 (a) | 250,000 | 195,945 |
| 3.65%, 02/03/48 (a) | 250,000 | 211,302 |
| 4.45%, 01/20/49 (a) | 200,000 | 191,076 |
| 2.45%, 05/01/50 (a) | 300,000 | 202,542 |
| Canadian Pacific Railway Co. | ||
| 1.35%, 12/02/24 (a) | 500,000 | 471,700 |
| 2.90%, 02/01/25 (a) | 271,000 | 263,287 |
| 4.00%, 06/01/28 (a) | 200,000 | 198,438 |
| 2.05%, 03/05/30 (a) | 200,000 | 169,418 |
| 7.13%, 10/15/31 | 100,000 | 116,914 |
| 2.45%, 12/02/31 (a) | 450,000 | 386,568 |
| 4.80%, 09/15/35 (a) | 145,000 | 144,732 |
| 5.95%, 05/15/37 | 100,000 | 110,884 |
| 3.00%, 12/02/41 (a) | 300,000 | 236,997 |
| 4.80%, 08/01/45 (a) | 150,000 | 148,323 |
| 3.10%, 12/02/51 (a) | 600,000 | 444,306 |
| 6.13%, 09/15/15 (a) | 289,000 | 302,661 |
| CH Robinson Worldwide, Inc. | ||
| 4.20%, 04/15/28 (a) | 200,000 | 193,152 |
| Continental Airlines 2012-1 Class A Pass-Through Trust | ||
| 4.15%, 10/11/25 | 158,197 | 153,989 |
| CSX Corp. | ||
| 3.40%, 08/01/24 (a) | 150,000 | 149,358 |
| 3.35%, 11/01/25 (a) | 150,000 | 147,510 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.60%, 11/01/26 (a) | 250,000 | 235,502 |
| 3.25%, 06/01/27 (a) | 378,000 | 363,175 |
| 3.80%, 03/01/28 (a) | 250,000 | 244,667 |
| 2.40%, 02/15/30 (a) | 275,000 | 241,469 |
| 6.00%, 10/01/36 | 50,000 | 55,454 |
| 6.15%, 05/01/37 | 250,000 | 281,787 |
| 6.22%, 04/30/40 | 175,000 | 198,761 |
| 5.50%, 04/15/41 (a) | 150,000 | 158,543 |
| 4.75%, 05/30/42 (a) | 50,000 | 47,779 |
| 4.40%, 03/01/43 (a) | 150,000 | 137,549 |
| 4.10%, 03/15/44 (a) | 250,000 | 220,340 |
| 3.80%, 11/01/46 (a) | 250,000 | 211,975 |
| 4.30%, 03/01/48 (a) | 50,000 | 45,987 |
| 4.75%, 11/15/48 (a) | 250,000 | 244,807 |
| 4.50%, 03/15/49 (a) | 150,000 | 140,661 |
| 3.35%, 09/15/49 (a) | 200,000 | 156,726 |
| 3.80%, 04/15/50 (a) | 150,000 | 126,923 |
| 3.95%, 05/01/50 (a) | 250,000 | 217,180 |
| 2.50%, 05/15/51 (a) | 150,000 | 101,658 |
| 4.50%, 08/01/54 (a) | 200,000 | 185,760 |
| 4.25%, 11/01/66 (a) | 250,000 | 213,762 |
| 4.65%, 03/01/68 (a) | 125,000 | 114,635 |
| Delta Air Lines 2019-1 Class AA Pass-Through Trust | ||
| 3.20%, 10/25/25 | 188,000 | 181,668 |
| Delta Air Lines 2020-1 Class AA Pass-Through Trust | ||
| 2.00%, 12/10/29 | 132,062 | 116,397 |
| FedEx Corp 2020-1 Class AA Pass-Through Trust | ||
| 1.88%, 08/20/35 | 229,948 | 198,751 |
| FedEx Corp. | ||
| 3.25%, 04/01/26 (a) | 250,000 | 245,590 |
| 3.40%, 02/15/28 (a) | 350,000 | 334,691 |
| 4.20%, 10/17/28 (a) | 150,000 | 148,889 |
| 3.10%, 08/05/29 (a) | 350,000 | 319,609 |
| 4.25%, 05/15/30 (a) | 300,000 | 292,563 |
| 4.90%, 01/15/34 | 112,000 | 112,152 |
| 3.90%, 02/01/35 | 300,000 | 269,538 |
| 3.25%, 05/15/41 (a) | 250,000 | 196,282 |
| 3.88%, 08/01/42 | 300,000 | 251,889 |
| 5.10%, 01/15/44 | 250,000 | 241,152 |
| 4.10%, 02/01/45 | 227,000 | 191,336 |
| 4.75%, 11/15/45 (a) | 265,000 | 244,523 |
| 4.55%, 04/01/46 (a) | 450,000 | 404,964 |
| 4.40%, 01/15/47 (a) | 150,000 | 131,483 |
| 4.05%, 02/15/48 (a) | 250,000 | 210,235 |
| 4.95%, 10/17/48 (a) | 300,000 | 286,680 |
| 5.25%, 05/15/50 (a)(e) | 400,000 | 399,736 |
| GXO Logistics, Inc. | ||
| 1.65%, 07/15/26 (a) | 100,000 | 87,300 |
| 2.65%, 07/15/31 (a) | 150,000 | 118,694 |
| JB Hunt Transport Services, Inc. | ||
| 3.88%, 03/01/26 (a) | 275,000 | 272,154 |
| JetBlue 2019-1 Class AA Pass-Through Trust | ||
| 2.75%, 11/15/33 | 133,540 | 113,334 |
| JetBlue 2020-1 Class A Pass-Through Trust | ||
| Series 1A 4.00%, 05/15/34 | 225,461 | 207,354 |
| Kansas City Southern | ||
| 2.88%, 11/15/29 (a) | 150,000 | 134,283 |
| 4.30%, 05/15/43 (a) | 50,000 | 43,739 |
| 4.95%, 08/15/45 (a) | 200,000 | 194,728 |
| 4.70%, 05/01/48 (a) | 150,000 | 141,537 |
| 3.50%, 05/01/50 (a) | 200,000 | 156,910 |
| 4.20%, 11/15/69 (a) | 150,000 | 124,061 |
| Kirby Corp. | ||
| 4.20%, 03/01/28 (a) | 200,000 | 186,576 |
85
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Norfolk Southern Corp. | ||
| 3.85%, 01/15/24 (a) | 50,000 | 50,192 |
| 2.90%, 06/15/26 (a) | 550,000 | 527,164 |
| 2.55%, 11/01/29 (a) | 200,000 | 179,322 |
| 2.30%, 05/15/31 (a) | 200,000 | 171,146 |
| 4.84%, 10/01/41 | 400,000 | 391,408 |
| 4.45%, 06/15/45 (a) | 250,000 | 233,842 |
| 4.65%, 01/15/46 (a) | 150,000 | 144,998 |
| 3.94%, 11/01/47 (a) | 350,000 | 305,385 |
| 4.15%, 02/28/48 (a) | 275,000 | 246,859 |
| 4.10%, 05/15/49 (a) | 300,000 | 266,949 |
| 3.40%, 11/01/49 (a) | 300,000 | 237,378 |
| 3.05%, 05/15/50 (a) | 300,000 | 220,758 |
| 4.05%, 08/15/52 (a) | 350,000 | 305,560 |
| 4.55%, 06/01/53 (a) | 200,000 | 189,120 |
| 3.16%, 05/15/55 (a) | 375,000 | 274,095 |
| Ryder System, Inc. | ||
| 3.88%, 12/01/23 (a) | 150,000 | 149,906 |
| 3.65%, 03/18/24 (a) | 150,000 | 148,862 |
| 2.50%, 09/01/24 (a) | 200,000 | 192,626 |
| 3.35%, 09/01/25 (a) | 135,000 | 130,622 |
| 2.90%, 12/01/26 (a) | 200,000 | 186,496 |
| Southwest Airlines Co. | ||
| 5.25%, 05/04/25 (a) | 350,000 | 357,434 |
| 3.00%, 11/15/26 (a) | 300,000 | 280,887 |
| 5.13%, 06/15/27 (a) | 475,000 | 479,489 |
| 3.45%, 11/16/27 (a) | 150,000 | 141,243 |
| 2.63%, 02/10/30 (a) | 200,000 | 169,080 |
| Spirit Airlines Pass-Through Trust 2015-1A | ||
| 4.10%, 10/01/29 | 63,566 | 59,936 |
| Triton Container International Ltd./TAL International Container Corp. | ||
| 3.25%, 03/15/32 (a) | 150,000 | 122,516 |
| Union Pacific Corp. | ||
| 3.65%, 02/15/24 (a) | 250,000 | 250,597 |
| 3.15%, 03/01/24 (a) | 250,000 | 248,502 |
| 3.75%, 03/15/24 (a) | 100,000 | 100,356 |
| 3.25%, 08/15/25 (a) | 500,000 | 493,090 |
| 2.75%, 03/01/26 (a) | 500,000 | 480,500 |
| 2.15%, 02/05/27 (a) | 225,000 | 209,095 |
| 3.70%, 03/01/29 (a) | 300,000 | 292,146 |
| 2.40%, 02/05/30 (a) | 250,000 | 221,157 |
| 2.80%, 02/14/32 (a) | 400,000 | 356,108 |
| 3.38%, 02/01/35 (a) | 400,000 | 359,196 |
| 2.89%, 04/06/36 (a) | 250,000 | 207,140 |
| 3.60%, 09/15/37 (a) | 200,000 | 179,856 |
| 3.55%, 08/15/39 (a) | 300,000 | 259,722 |
| 3.20%, 05/20/41 (a) | 250,000 | 205,012 |
| 4.05%, 11/15/45 (a) | 120,000 | 106,151 |
| 4.05%, 03/01/46 (a) | 250,000 | 227,865 |
| 4.00%, 04/15/47 (a) | 200,000 | 179,412 |
| 4.50%, 09/10/48 (a) | 100,000 | 95,955 |
| 4.30%, 03/01/49 (a) | 250,000 | 235,720 |
| 3.25%, 02/05/50 (a) | 700,000 | 551,474 |
| 3.80%, 10/01/51 (a) | 250,000 | 215,700 |
| 3.50%, 02/14/53 (a) | 400,000 | 327,596 |
| 3.88%, 02/01/55 (a) | 150,000 | 128,822 |
| 3.95%, 08/15/59 (a) | 175,000 | 150,360 |
| 3.84%, 03/20/60 (a) | 700,000 | 586,040 |
| 2.97%, 09/16/62 (a) | 450,000 | 312,786 |
| 4.10%, 09/15/67 (a) | 175,000 | 149,356 |
| 3.75%, 02/05/70 (a) | 250,000 | 200,267 |
| 3.80%, 04/06/71 (a) | 350,000 | 282,191 |
| United Airlines 2013-1 Class A Pass-Through Trust | ||
| 4.30%, 02/15/27 | 502,427 | 482,114 |
| United Airlines 2014-1 Class A Pass-Through Trust | ||
| 4.00%, 10/11/27 | 89,253 | 83,562 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| United Airlines 2014-2 Class A Pass-Through Trust | ||
| 3.75%, 03/03/28 | 211,576 | 199,710 |
| United Airlines 2016-1 Class AA Pass-Through Trust | ||
| 3.10%, 01/07/30 | 457,532 | 414,135 |
| United Airlines 2016-2 Class AA Pass-Through Trust | ||
| 2.88%, 04/07/30 | 91,455 | 83,017 |
| United Airlines 2018-1 Class AA Pass-Through Trust | ||
| 3.50%, 09/01/31 | 291,864 | 262,920 |
| United Airlines 2019-1 Class AA Pass-Through Trust | ||
| 4.15%, 02/25/33 | 278,716 | 259,895 |
| United Airlines 2019-2 Class AA Pass-Through Trust | ||
| 2.70%, 11/01/33 | 182,010 | 153,562 |
| United Airlines 2020-1 Class B Pass-Through Trust | ||
| 4.88%, 07/15/27 | 166,000 | 157,474 |
| United Parcel Service, Inc. | ||
| 2.20%, 09/01/24 (a) | 150,000 | 146,475 |
| 2.80%, 11/15/24 (a) | 150,000 | 148,292 |
| 3.90%, 04/01/25 (a) | 350,000 | 353,055 |
| 3.05%, 11/15/27 (a) | 450,000 | 438,349 |
| 3.40%, 03/15/29 (a) | 100,000 | 96,604 |
| 2.50%, 09/01/29 (a) | 150,000 | 136,418 |
| 4.45%, 04/01/30 (a) | 325,000 | 332,881 |
| 6.20%, 01/15/38 | 400,000 | 467,076 |
| 5.20%, 04/01/40 (a) | 200,000 | 212,584 |
| 4.88%, 11/15/40 (a) | 100,000 | 102,300 |
| 3.63%, 10/01/42 | 100,000 | 87,233 |
| 3.40%, 11/15/46 (a) | 200,000 | 166,864 |
| 3.75%, 11/15/47 (a) | 300,000 | 268,002 |
| 4.25%, 03/15/49 (a) | 260,000 | 249,798 |
| 3.40%, 09/01/49 (a) | 200,000 | 169,388 |
| 5.30%, 04/01/50 (a) | 400,000 | 441,124 |
| 41,914,707 | ||
| 1,046,289,512 | ||
| Utility 2.0% | ||
| Electric 1.8% | ||
| AEP Texas, Inc. | ||
| 3.95%, 06/01/28 (a) | 95,000 | 92,422 |
| 2.10%, 07/01/30 (a) | 300,000 | 250,221 |
| 4.15%, 05/01/49 (a) | 200,000 | 172,734 |
| 3.45%, 01/15/50 (a) | 250,000 | 193,883 |
| 5.25%, 05/15/52 (a) | 175,000 | 177,735 |
| AEP Transmission Co. LLC | ||
| 3.75%, 12/01/47 (a) | 250,000 | 213,097 |
| 4.25%, 09/15/48 (a) | 210,000 | 192,463 |
| 3.80%, 06/15/49 (a) | 100,000 | 85,615 |
| 3.65%, 04/01/50 (a) | 150,000 | 125,096 |
| AES Corp. | ||
| 1.38%, 01/15/26 (a) | 250,000 | 220,697 |
| 2.45%, 01/15/31 (a) | 350,000 | 281,792 |
| Alabama Power Co. | ||
| 3.55%, 12/01/23 | 100,000 | 100,546 |
| 1.45%, 09/15/30 (a) | 250,000 | 203,648 |
| 6.00%, 03/01/39 | 225,000 | 248,467 |
| 3.85%, 12/01/42 | 150,000 | 128,915 |
| 4.30%, 01/02/46 (a) | 350,000 | 319,508 |
| 3.70%, 12/01/47 (a) | 400,000 | 334,948 |
| 4.30%, 07/15/48 (a) | 100,000 | 90,880 |
| 3.45%, 10/01/49 (a) | 250,000 | 198,040 |
| Ameren Corp. | ||
| 2.50%, 09/15/24 (a) | 250,000 | 242,805 |
| 3.65%, 02/15/26 (a) | 400,000 | 393,348 |
| 3.50%, 01/15/31 (a) | 300,000 | 275,265 |
86
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Ameren Illinois Co. | ||
| 4.15%, 03/15/46 (a) | 300,000 | 275,598 |
| 3.70%, 12/01/47 (a) | 150,000 | 129,144 |
| 3.25%, 03/15/50 (a) | 100,000 | 78,506 |
| American Electric Power Co., Inc. | ||
| 3.20%, 11/13/27 (a) | 50,000 | 47,283 |
| 4.30%, 12/01/28 (a) | 400,000 | 390,072 |
| 2.30%, 03/01/30 (a) | 200,000 | 168,578 |
| 3.25%, 03/01/50 (a) | 200,000 | 144,518 |
| Appalachian Power Co. | ||
| 3.40%, 06/01/25 (a) | 300,000 | 296,253 |
| 3.30%, 06/01/27 (a) | 300,000 | 288,126 |
| 7.00%, 04/01/38 | 210,000 | 244,600 |
| 4.45%, 06/01/45 (a) | 250,000 | 218,797 |
| 4.50%, 03/01/49 (a) | 150,000 | 134,220 |
| 3.70%, 05/01/50 (a) | 200,000 | 159,968 |
| Arizona Public Service Co. | ||
| 3.15%, 05/15/25 (a) | 250,000 | 245,500 |
| 5.05%, 09/01/41 (a) | 100,000 | 95,644 |
| 4.35%, 11/15/45 (a) | 275,000 | 236,879 |
| 4.20%, 08/15/48 (a) | 100,000 | 85,865 |
| 4.25%, 03/01/49 (a) | 150,000 | 130,716 |
| 3.35%, 05/15/50 (a) | 350,000 | 258,499 |
| 2.65%, 09/15/50 (a) | 250,000 | 161,223 |
| Avangrid, Inc. | ||
| 3.15%, 12/01/24 (a) | 300,000 | 293,583 |
| 3.20%, 04/15/25 (a) | 175,000 | 170,168 |
| 3.80%, 06/01/29 (a) | 195,000 | 182,754 |
| Avista Corp. | ||
| 4.35%, 06/01/48 (a) | 150,000 | 141,756 |
| Baltimore Gas and Electric Co. | ||
| 3.50%, 08/15/46 (a) | 250,000 | 206,720 |
| 3.75%, 08/15/47 (a) | 175,000 | 151,764 |
| 4.25%, 09/15/48 (a) | 150,000 | 139,259 |
| 3.20%, 09/15/49 (a) | 100,000 | 78,048 |
| 2.90%, 06/15/50 (a) | 150,000 | 110,978 |
| Berkshire Hathaway Energy Co. | ||
| 3.50%, 02/01/25 (a) | 150,000 | 150,116 |
| 4.05%, 04/15/25 (a) | 600,000 | 605,610 |
| 3.25%, 04/15/28 (a) | 325,000 | 309,332 |
| 3.70%, 07/15/30 (a) | 200,000 | 192,072 |
| 6.13%, 04/01/36 | 500,000 | 552,475 |
| 5.95%, 05/15/37 | 250,000 | 275,017 |
| 5.15%, 11/15/43 (a) | 260,000 | 263,398 |
| 4.50%, 02/01/45 (a) | 250,000 | 232,230 |
| 3.80%, 07/15/48 (a) | 250,000 | 210,923 |
| 4.45%, 01/15/49 (a) | 300,000 | 280,371 |
| 4.25%, 10/15/50 (a) | 350,000 | 320,432 |
| 2.85%, 05/15/51 (a) | 350,000 | 248,787 |
| 4.60%, 05/01/53 (a)(c) | 300,000 | 289,812 |
| Black Hills Corp. | ||
| 1.04%, 08/23/24 (a) | 200,000 | 187,422 |
| 3.05%, 10/15/29 (a) | 150,000 | 133,473 |
| 2.50%, 06/15/30 (a) | 250,000 | 209,353 |
| 4.35%, 05/01/33 (a) | 150,000 | 140,378 |
| 4.20%, 09/15/46 (a) | 100,000 | 85,293 |
| 3.88%, 10/15/49 (a) | 100,000 | 81,429 |
| CenterPoint Energy Houston Electric LLC | ||
| 3.00%, 03/01/32 (a) | 250,000 | 228,207 |
| 6.95%, 03/15/33 | 50,000 | 59,720 |
| 3.55%, 08/01/42 (a) | 128,000 | 111,117 |
| 3.95%, 03/01/48 (a) | 200,000 | 181,456 |
| 4.25%, 02/01/49 (a) | 250,000 | 238,197 |
| 2.90%, 07/01/50 (a) | 150,000 | 113,586 |
| 3.60%, 03/01/52 (a) | 250,000 | 215,617 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| CenterPoint Energy, Inc. | ||
| 2.50%, 09/01/24 (a) | 200,000 | 193,662 |
| 4.25%, 11/01/28 (a) | 120,000 | 117,728 |
| 2.95%, 03/01/30 (a) | 400,000 | 356,188 |
| 3.70%, 09/01/49 (a) | 200,000 | 161,090 |
| Cleco Corporate Holdings LLC | ||
| 3.74%, 05/01/26 (a) | 170,000 | 164,742 |
| 4.97%, 05/01/46 (a) | 100,000 | 94,964 |
| CMS Energy Corp. | ||
| 3.00%, 05/15/26 (a) | 350,000 | 337,011 |
| 3.45%, 08/15/27 (a) | 200,000 | 191,918 |
| 4.88%, 03/01/44 (a) | 100,000 | 95,683 |
| Commonwealth Edison Co. | ||
| 2.55%, 06/15/26 (a) | 123,000 | 118,054 |
| 3.70%, 08/15/28 (a) | 750,000 | 731,475 |
| 6.45%, 01/15/38 | 300,000 | 352,176 |
| 3.80%, 10/01/42 (a) | 200,000 | 172,860 |
| 4.60%, 08/15/43 (a) | 150,000 | 145,785 |
| 4.70%, 01/15/44 (a) | 150,000 | 147,432 |
| 3.70%, 03/01/45 (a) | 100,000 | 84,139 |
| 4.35%, 11/15/45 (a) | 150,000 | 139,524 |
| 3.65%, 06/15/46 (a) | 250,000 | 212,403 |
| 3.75%, 08/15/47 (a) | 250,000 | 216,020 |
| 4.00%, 03/01/48 (a) | 150,000 | 135,449 |
| 4.00%, 03/01/49 (a) | 200,000 | 180,228 |
| 3.20%, 11/15/49 (a) | 100,000 | 78,381 |
| 3.00%, 03/01/50 (a) | 300,000 | 230,853 |
| 3.13%, 03/15/51 (a) | 250,000 | 193,665 |
| Connecticut Light and Power Co. | ||
| 0.75%, 12/01/25 (a) | 50,000 | 45,287 |
| 3.20%, 03/15/27 (a) | 200,000 | 194,874 |
| 2.05%, 07/01/31 (a) | 300,000 | 253,800 |
| 4.30%, 04/15/44 (a) | 150,000 | 140,357 |
| 4.00%, 04/01/48 (a) | 250,000 | 227,767 |
| Consolidated Edison Co. of New York, Inc. | ||
| 4.00%, 12/01/28 (a) | 200,000 | 197,642 |
| 3.35%, 04/01/30 (a) | 400,000 | 373,156 |
| 5.30%, 03/01/35 | 350,000 | 363,993 |
| 5.85%, 03/15/36 | 50,000 | 53,665 |
| 6.75%, 04/01/38 | 350,000 | 410,557 |
| 5.50%, 12/01/39 | 250,000 | 260,215 |
| 5.70%, 06/15/40 | 150,000 | 158,808 |
| 3.95%, 03/01/43 (a) | 300,000 | 259,443 |
| 4.45%, 03/15/44 (a) | 400,000 | 368,552 |
| 4.50%, 12/01/45 (a) | 100,000 | 92,285 |
| 3.88%, 06/15/47 (a) | 250,000 | 210,223 |
| 4.13%, 05/15/49 (a) | 200,000 | 175,658 |
| 3.95%, 04/01/50 (a) | 350,000 | 305,459 |
| 4.63%, 12/01/54 (a) | 250,000 | 232,382 |
| 4.30%, 12/01/56 (a) | 200,000 | 176,152 |
| 4.00%, 11/15/57 (a) | 250,000 | 209,098 |
| 4.50%, 05/15/58 (a) | 290,000 | 261,652 |
| 3.70%, 11/15/59 (a) | 200,000 | 159,056 |
| 3.00%, 12/01/60 (a) | 200,000 | 137,744 |
| 3.60%, 06/15/61 (a) | 200,000 | 158,954 |
| Consolidated Edison, Inc. | ||
| 0.65%, 12/01/23 (a) | 300,000 | 289,059 |
| Consumers Energy Co. | ||
| 3.38%, 08/15/23 (a) | 250,000 | 250,505 |
| 3.95%, 05/15/43 (a) | 250,000 | 223,285 |
| 4.05%, 05/15/48 (a) | 200,000 | 183,416 |
| 4.35%, 04/15/49 (a) | 200,000 | 191,204 |
| 3.75%, 02/15/50 (a) | 100,000 | 87,529 |
| 3.10%, 08/15/50 (a) | 300,000 | 231,603 |
| 3.50%, 08/01/51 (a) | 100,000 | 83,887 |
| 2.50%, 05/01/60 (a) | 350,000 | 225,165 |
87
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Dayton Power & Light Co. | ||
| 3.95%, 06/15/49 (a) | 150,000 | 128,679 |
| Delmarva Power & Light Co. | ||
| 3.50%, 11/15/23 (a) | 300,000 | 301,401 |
| 4.15%, 05/15/45 (a) | 200,000 | 179,242 |
| Dominion Energy South Carolina, Inc. | ||
| 2.30%, 12/01/31 (a) | 150,000 | 128,294 |
| 5.30%, 05/15/33 | 100,000 | 106,929 |
| 6.05%, 01/15/38 | 250,000 | 280,222 |
| 5.45%, 02/01/41 (a) | 100,000 | 105,096 |
| 5.10%, 06/01/65 (a) | 200,000 | 200,464 |
| Dominion Energy, Inc. | ||
| 3.07%, 08/15/24 | 225,000 | 219,924 |
| 2.85%, 08/15/26 (a) | 300,000 | 285,093 |
| 3.60%, 03/15/27 (a) | 200,000 | 194,788 |
| 4.25%, 06/01/28 (a) | 350,000 | 345,471 |
| 3.38%, 04/01/30 (a) | 550,000 | 503,602 |
| 6.30%, 03/15/33 | 45,000 | 49,457 |
| 5.25%, 08/01/33 | 300,000 | 310,710 |
| 5.95%, 06/15/35 | 150,000 | 160,238 |
| 7.00%, 06/15/38 | 200,000 | 232,566 |
| 4.90%, 08/01/41 (a) | 200,000 | 192,372 |
| 4.05%, 09/15/42 (a) | 200,000 | 172,144 |
| 4.70%, 12/01/44 (a) | 150,000 | 139,110 |
| 4.60%, 03/15/49 (a) | 150,000 | 140,903 |
| 5.75%, 10/01/54 (a)(b) | 100,000 | 93,561 |
| DTE Electric Co. | ||
| 3.38%, 03/01/25 (a) | 150,000 | 148,913 |
| 2.25%, 03/01/30 (a) | 200,000 | 175,512 |
| 2.63%, 03/01/31 (a) | 300,000 | 266,655 |
| 4.00%, 04/01/43 (a) | 125,000 | 112,588 |
| 4.30%, 07/01/44 (a) | 150,000 | 140,058 |
| 3.70%, 03/15/45 (a) | 150,000 | 128,312 |
| 3.70%, 06/01/46 (a) | 200,000 | 175,722 |
| 4.05%, 05/15/48 (a) | 175,000 | 161,012 |
| 3.95%, 03/01/49 (a) | 239,000 | 215,791 |
| 2.95%, 03/01/50 (a) | 50,000 | 38,197 |
| 3.25%, 04/01/51 (a) | 200,000 | 161,264 |
| DTE Energy Co. | ||
| 2.53%, 10/01/24 | 170,000 | 164,569 |
| 2.85%, 10/01/26 (a) | 645,000 | 610,551 |
| 3.40%, 06/15/29 (a) | 250,000 | 229,782 |
| 2.95%, 03/01/30 (a) | 200,000 | 177,528 |
| Duke Energy Carolinas LLC | ||
| 3.95%, 11/15/28 (a) | 236,000 | 233,213 |
| 2.45%, 02/01/30 (a) | 250,000 | 221,262 |
| 6.45%, 10/15/32 | 100,000 | 112,799 |
| 6.10%, 06/01/37 | 150,000 | 164,145 |
| 6.00%, 01/15/38 | 200,000 | 223,560 |
| 6.05%, 04/15/38 | 250,000 | 280,217 |
| 5.30%, 02/15/40 | 200,000 | 208,746 |
| 4.25%, 12/15/41 (a) | 250,000 | 232,050 |
| 4.00%, 09/30/42 (a) | 250,000 | 223,915 |
| 3.75%, 06/01/45 (a) | 200,000 | 169,168 |
| 3.88%, 03/15/46 (a) | 150,000 | 132,024 |
| 3.70%, 12/01/47 (a) | 200,000 | 169,962 |
| 3.95%, 03/15/48 (a) | 200,000 | 176,486 |
| 3.20%, 08/15/49 (a) | 300,000 | 236,232 |
| 3.45%, 04/15/51 (a) | 150,000 | 122,970 |
| Duke Energy Corp. | ||
| 3.75%, 04/15/24 (a) | 440,000 | 440,026 |
| 0.90%, 09/15/25 (a) | 200,000 | 181,412 |
| 2.65%, 09/01/26 (a) | 500,000 | 469,865 |
| 3.15%, 08/15/27 (a) | 400,000 | 378,788 |
| 3.40%, 06/15/29 (a) | 200,000 | 183,412 |
| 2.45%, 06/01/30 (a) | 500,000 | 422,055 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.55%, 06/15/31 (a) | 500,000 | 415,885 |
| 4.80%, 12/15/45 (a) | 100,000 | 91,598 |
| 3.75%, 09/01/46 (a) | 200,000 | 157,998 |
| 3.95%, 08/15/47 (a) | 450,000 | 366,664 |
| 4.20%, 06/15/49 (a) | 200,000 | 167,744 |
| 3.50%, 06/15/51 (a) | 250,000 | 188,845 |
| 3.25%, 01/15/82 (a)(b) | 100,000 | 77,575 |
| Duke Energy Florida LLC | ||
| 3.20%, 01/15/27 (a) | 450,000 | 438,817 |
| 3.80%, 07/15/28 (a) | 100,000 | 97,873 |
| 2.50%, 12/01/29 (a) | 150,000 | 133,560 |
| 1.75%, 06/15/30 (a) | 250,000 | 208,208 |
| 6.35%, 09/15/37 | 150,000 | 172,107 |
| 6.40%, 06/15/38 | 300,000 | 353,667 |
| 5.65%, 04/01/40 | 250,000 | 268,760 |
| 3.85%, 11/15/42 (a) | 300,000 | 262,008 |
| 3.40%, 10/01/46 (a) | 100,000 | 79,045 |
| 4.20%, 07/15/48 (a) | 100,000 | 90,245 |
| Duke Energy Florida Project Finance LLC | ||
| 2.54%, 09/01/31 | 400,000 | 376,908 |
| Duke Energy Indiana LLC | ||
| 6.12%, 10/15/35 | 100,000 | 108,274 |
| 6.35%, 08/15/38 | 200,000 | 227,902 |
| 6.45%, 04/01/39 | 200,000 | 227,438 |
| 4.90%, 07/15/43 (a) | 75,000 | 73,553 |
| 3.75%, 05/15/46 (a) | 50,000 | 42,791 |
| 3.25%, 10/01/49 (a) | 150,000 | 116,822 |
| 2.75%, 04/01/50 (a) | 200,000 | 141,844 |
| Duke Energy Ohio, Inc. | ||
| 3.65%, 02/01/29 (a) | 150,000 | 143,630 |
| 2.13%, 06/01/30 (a) | 200,000 | 169,362 |
| 3.70%, 06/15/46 (a) | 50,000 | 42,000 |
| 4.30%, 02/01/49 (a) | 150,000 | 136,973 |
| Duke Energy Progress LLC | ||
| 3.25%, 08/15/25 (a) | 250,000 | 248,777 |
| 2.00%, 08/15/31 (a) | 200,000 | 166,092 |
| 4.10%, 05/15/42 (a) | 200,000 | 180,774 |
| 4.10%, 03/15/43 (a) | 100,000 | 90,386 |
| 4.38%, 03/30/44 (a) | 200,000 | 186,490 |
| 4.15%, 12/01/44 (a) | 300,000 | 270,423 |
| 4.20%, 08/15/45 (a) | 50,000 | 45,361 |
| 3.70%, 10/15/46 (a) | 200,000 | 171,404 |
| 3.60%, 09/15/47 (a) | 250,000 | 209,263 |
| 2.50%, 08/15/50 (a) | 250,000 | 171,800 |
| 2.90%, 08/15/51 (a) | 150,000 | 112,115 |
| Edison International | ||
| 3.55%, 11/15/24 (a) | 325,000 | 317,739 |
| 5.75%, 06/15/27 (a) | 200,000 | 203,716 |
| 4.13%, 03/15/28 (a) | 200,000 | 186,786 |
| El Paso Electric Co. | ||
| 6.00%, 05/15/35 | 269,000 | 287,728 |
| Emera US Finance LP | ||
| 3.55%, 06/15/26 (a) | 287,000 | 275,150 |
| 4.75%, 06/15/46 (a) | 525,000 | 464,467 |
| Enel Americas S.A. | ||
| 4.00%, 10/25/26 (a) | 250,000 | 243,655 |
| Enel Chile S.A. | ||
| 4.88%, 06/12/28 (a) | 375,000 | 359,407 |
| Enel Generacion Chile S.A. | ||
| 4.25%, 04/15/24 (a) | 100,000 | 98,485 |
| Entergy Arkansas LLC | ||
| 3.50%, 04/01/26 (a) | 250,000 | 246,800 |
| 4.20%, 04/01/49 (a) | 300,000 | 278,547 |
| 2.65%, 06/15/51 (a) | 250,000 | 174,823 |
88
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Entergy Corp. | ||
| 0.90%, 09/15/25 (a) | 300,000 | 270,657 |
| 2.95%, 09/01/26 (a) | 250,000 | 237,337 |
| 2.80%, 06/15/30 (a) | 250,000 | 214,942 |
| 2.40%, 06/15/31 (a) | 300,000 | 244,311 |
| 3.75%, 06/15/50 (a) | 200,000 | 158,894 |
| Entergy Louisiana LLC | ||
| 0.62%, 11/17/23 (a) | 242,000 | 232,848 |
| 0.95%, 10/01/24 (a) | 200,000 | 188,694 |
| 5.40%, 11/01/24 | 150,000 | 155,321 |
| 2.40%, 10/01/26 (a) | 300,000 | 278,736 |
| 3.12%, 09/01/27 (a) | 200,000 | 190,684 |
| 3.25%, 04/01/28 (a) | 200,000 | 188,420 |
| 1.60%, 12/15/30 (a) | 300,000 | 240,591 |
| 4.00%, 03/15/33 (a) | 211,000 | 200,876 |
| 4.95%, 01/15/45 (a) | 400,000 | 390,192 |
| 4.20%, 09/01/48 (a) | 350,000 | 322,231 |
| 4.20%, 04/01/50 (a) | 150,000 | 136,908 |
| 2.90%, 03/15/51 (a) | 200,000 | 145,090 |
| Entergy Mississippi LLC | ||
| 3.85%, 06/01/49 (a) | 175,000 | 150,175 |
| Entergy Texas, Inc. | ||
| 4.00%, 03/30/29 (a) | 197,000 | 192,916 |
| 1.75%, 03/15/31 (a) | 250,000 | 203,685 |
| 3.55%, 09/30/49 (a) | 200,000 | 161,406 |
| Evergy Kansas Central, Inc. | ||
| 3.10%, 04/01/27 (a) | 300,000 | 286,653 |
| 4.13%, 03/01/42 (a) | 150,000 | 135,267 |
| 4.10%, 04/01/43 (a) | 150,000 | 132,020 |
| 4.25%, 12/01/45 (a) | 100,000 | 90,653 |
| 3.25%, 09/01/49 (a) | 125,000 | 97,871 |
| 3.45%, 04/15/50 (a) | 100,000 | 80,691 |
| Evergy Metro, Inc. | ||
| 5.30%, 10/01/41 (a) | 50,000 | 51,920 |
| 4.20%, 06/15/47 (a) | 95,000 | 85,782 |
| 4.20%, 03/15/48 (a) | 150,000 | 135,483 |
| 4.13%, 04/01/49 (a) | 200,000 | 179,102 |
| Evergy, Inc. | ||
| 2.45%, 09/15/24 (a) | 350,000 | 337,172 |
| 2.90%, 09/15/29 (a) | 250,000 | 221,005 |
| Eversource Energy | ||
| 2.80%, 05/01/23 (a) | 100,000 | 99,441 |
| 3.80%, 12/01/23 (a) | 250,000 | 250,535 |
| 2.90%, 03/01/27 (a) | 200,000 | 188,592 |
| 3.30%, 01/15/28 (a) | 250,000 | 235,972 |
| 1.65%, 08/15/30 (a) | 400,000 | 318,764 |
| 2.55%, 03/15/31 (a) | 250,000 | 212,645 |
| 3.38%, 03/01/32 (a) | 200,000 | 179,786 |
| 3.45%, 01/15/50 (a) | 300,000 | 232,221 |
| Exelon Corp. | ||
| 3.95%, 06/15/25 (a) | 650,000 | 648,420 |
| 3.40%, 04/15/26 (a) | 100,000 | 97,151 |
| 4.05%, 04/15/30 (a) | 450,000 | 432,031 |
| 3.35%, 03/15/32 (a)(c) | 200,000 | 179,526 |
| 4.95%, 06/15/35 (a)(c) | 250,000 | 245,440 |
| 5.63%, 06/15/35 | 250,000 | 261,260 |
| 5.10%, 06/15/45 (a) | 200,000 | 198,652 |
| 4.45%, 04/15/46 (a) | 300,000 | 271,170 |
| 4.70%, 04/15/50 (a) | 250,000 | 233,895 |
| Exelon Generation Co. LLC | ||
| 3.25%, 06/01/25 (a) | 50,000 | 47,981 |
| 6.25%, 10/01/39 | 300,000 | 307,161 |
| 5.75%, 10/01/41 (a) | 100,000 | 97,354 |
| 5.60%, 06/15/42 (a) | 300,000 | 288,243 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Florida Power & Light Co. | ||
| 3.25%, 06/01/24 (a) | 300,000 | 300,423 |
| 2.85%, 04/01/25 (a) | 400,000 | 393,536 |
| 3.13%, 12/01/25 (a) | 500,000 | 495,515 |
| 4.95%, 06/01/35 | 150,000 | 157,157 |
| 5.95%, 02/01/38 | 150,000 | 169,557 |
| 5.96%, 04/01/39 | 250,000 | 284,047 |
| 5.69%, 03/01/40 | 100,000 | 111,185 |
| 5.25%, 02/01/41 (a) | 250,000 | 266,840 |
| 4.13%, 02/01/42 (a) | 150,000 | 141,401 |
| 4.05%, 06/01/42 (a) | 350,000 | 324,768 |
| 3.80%, 12/15/42 (a) | 275,000 | 246,128 |
| 3.70%, 12/01/47 (a) | 55,000 | 48,502 |
| 3.95%, 03/01/48 (a) | 250,000 | 229,432 |
| 4.13%, 06/01/48 (a) | 250,000 | 235,325 |
| 3.99%, 03/01/49 (a) | 250,000 | 229,842 |
| 3.15%, 10/01/49 (a) | 350,000 | 279,587 |
| 2.88%, 12/04/51 (a) | 400,000 | 300,588 |
| Fortis, Inc. | ||
| 3.06%, 10/04/26 (a) | 310,000 | 291,756 |
| Georgia Power Co. | ||
| 2.10%, 07/30/23 | 250,000 | 246,397 |
| 2.20%, 09/15/24 (a) | 150,000 | 145,052 |
| 3.25%, 04/01/26 (a) | 150,000 | 146,138 |
| 3.25%, 03/30/27 (a) | 100,000 | 95,382 |
| 2.65%, 09/15/29 (a) | 100,000 | 88,256 |
| 4.70%, 05/15/32 (a) | 250,000 | 251,257 |
| 4.75%, 09/01/40 | 100,000 | 91,495 |
| 4.30%, 03/15/42 | 425,000 | 370,472 |
| 4.30%, 03/15/43 | 200,000 | 173,906 |
| 3.70%, 01/30/50 (a) | 225,000 | 179,735 |
| 3.25%, 03/15/51 (a) | 150,000 | 110,778 |
| 5.13%, 05/15/52 (a) | 250,000 | 249,572 |
| Iberdrola International BV | ||
| 5.81%, 03/15/25 | 100,000 | 105,876 |
| 6.75%, 07/15/36 | 200,000 | 232,662 |
| Idaho Power Co. | ||
| 4.20%, 03/01/48 (a) | 200,000 | 182,624 |
| Indiana Michigan Power Co. | ||
| 3.85%, 05/15/28 (a) | 50,000 | 48,496 |
| 4.55%, 03/15/46 (a) | 100,000 | 92,969 |
| 3.75%, 07/01/47 (a) | 250,000 | 206,950 |
| 4.25%, 08/15/48 (a) | 300,000 | 266,415 |
| Interstate Power and Light Co. | ||
| 3.25%, 12/01/24 (a) | 200,000 | 197,940 |
| 4.10%, 09/26/28 (a) | 250,000 | 247,645 |
| 2.30%, 06/01/30 (a) | 300,000 | 256,908 |
| 3.70%, 09/15/46 (a) | 50,000 | 41,328 |
| 3.50%, 09/30/49 (a) | 150,000 | 121,746 |
| IPALCO Enterprises, Inc. | ||
| 4.25%, 05/01/30 (a) | 200,000 | 186,538 |
| ITC Holdings Corp. | ||
| 3.25%, 06/30/26 (a) | 220,000 | 211,836 |
| 3.35%, 11/15/27 (a) | 100,000 | 95,534 |
| 5.30%, 07/01/43 (a) | 150,000 | 151,820 |
| Kentucky Utilities Co. | ||
| 5.13%, 11/01/40 (a) | 250,000 | 250,785 |
| 4.38%, 10/01/45 (a) | 250,000 | 227,720 |
| 3.30%, 06/01/50 (a) | 150,000 | 117,339 |
| Louisville Gas and Electric Co. | ||
| 4.25%, 04/01/49 (a) | 150,000 | 136,823 |
| MidAmerican Energy Co. | ||
| 3.10%, 05/01/27 (a) | 50,000 | 48,428 |
| 3.65%, 04/15/29 (a) | 200,000 | 194,872 |
| 6.75%, 12/30/31 | 200,000 | 236,864 |
89
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 5.80%, 10/15/36 | 200,000 | 222,418 |
| 4.80%, 09/15/43 (a) | 200,000 | 199,410 |
| 4.40%, 10/15/44 (a) | 125,000 | 118,658 |
| 4.25%, 05/01/46 (a) | 150,000 | 139,911 |
| 3.95%, 08/01/47 (a) | 150,000 | 134,421 |
| 3.65%, 08/01/48 (a) | 250,000 | 211,625 |
| 4.25%, 07/15/49 (a) | 300,000 | 280,443 |
| 3.15%, 04/15/50 (a) | 200,000 | 157,370 |
| Mississippi Power Co. | ||
| 3.95%, 03/30/28 (a) | 250,000 | 243,507 |
| 4.25%, 03/15/42 | 100,000 | 87,924 |
| 3.10%, 07/30/51 (a) | 100,000 | 71,393 |
| National Rural Utilities Cooperative Finance Corp. | ||
| 3.40%, 11/15/23 (a) | 250,000 | 250,737 |
| 2.95%, 02/07/24 (a) | 410,000 | 407,130 |
| 3.25%, 11/01/25 (a) | 400,000 | 391,368 |
| 3.40%, 02/07/28 (a) | 350,000 | 335,877 |
| 3.90%, 11/01/28 (a) | 250,000 | 244,597 |
| 3.70%, 03/15/29 (a) | 200,000 | 191,292 |
| 1.35%, 03/15/31 (a) | 250,000 | 195,075 |
| 8.00%, 03/01/32 | 200,000 | 249,642 |
| 5.25%, 04/20/46 (a)(b) | 250,000 | 229,585 |
| 4.40%, 11/01/48 (a) | 150,000 | 141,258 |
| 4.30%, 03/15/49 (a) | 100,000 | 94,274 |
| Nevada Power Co. | ||
| 3.70%, 05/01/29 (a) | 350,000 | 337,512 |
| 6.65%, 04/01/36 | 150,000 | 173,442 |
| 3.13%, 08/01/50 (a) | 200,000 | 149,176 |
| NextEra Energy Capital Holdings, Inc. | ||
| 4.45%, 06/20/25 | 300,000 | 302,604 |
| 1.88%, 01/15/27 (a) | 350,000 | 315,805 |
| 3.55%, 05/01/27 (a) | 450,000 | 435,028 |
| 4.63%, 07/15/27 (a) | 300,000 | 304,011 |
| 1.90%, 06/15/28 (a) | 500,000 | 435,495 |
| 3.50%, 04/01/29 (a) | 400,000 | 373,916 |
| 2.75%, 11/01/29 (a) | 350,000 | 309,582 |
| 2.25%, 06/01/30 (a) | 650,000 | 546,318 |
| 2.44%, 01/15/32 (a) | 350,000 | 291,616 |
| 5.00%, 07/15/32 (a) | 300,000 | 307,398 |
| 3.00%, 01/15/52 (a) | 200,000 | 143,588 |
| 4.80%, 12/01/77 (a)(b) | 250,000 | 207,740 |
| Northern States Power Co. | ||
| 6.25%, 06/01/36 | 270,000 | 312,379 |
| 6.20%, 07/01/37 | 150,000 | 175,650 |
| 5.35%, 11/01/39 | 200,000 | 215,892 |
| 3.40%, 08/15/42 (a) | 145,000 | 123,009 |
| 4.00%, 08/15/45 (a) | 100,000 | 88,988 |
| 3.60%, 05/15/46 (a) | 200,000 | 171,516 |
| 3.60%, 09/15/47 (a) | 250,000 | 210,928 |
| 2.90%, 03/01/50 (a) | 200,000 | 151,250 |
| 2.60%, 06/01/51 (a) | 200,000 | 141,644 |
| NorthWestern Corp. | ||
| 4.18%, 11/15/44 (a) | 160,000 | 140,566 |
| NSTAR Electric Co. | ||
| 3.20%, 05/15/27 (a) | 350,000 | 338,614 |
| 3.25%, 05/15/29 (a) | 250,000 | 236,845 |
| 1.95%, 08/15/31 (a) | 150,000 | 124,875 |
| 5.50%, 03/15/40 | 100,000 | 108,346 |
| 4.40%, 03/01/44 (a) | 150,000 | 140,211 |
| 3.10%, 06/01/51 (a) | 100,000 | 77,096 |
| Oglethorpe Power Corp. | ||
| 5.95%, 11/01/39 | 150,000 | 159,147 |
| 5.38%, 11/01/40 | 200,000 | 198,002 |
| 5.05%, 10/01/48 (a) | 200,000 | 187,930 |
| 3.75%, 08/01/50 (a) | 150,000 | 119,556 |
| 5.25%, 09/01/50 | 50,000 | 47,759 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Ohio Edison Co. | ||
| 6.88%, 07/15/36 | 100,000 | 117,572 |
| Ohio Power Co. | ||
| 2.60%, 04/01/30 (a) | 200,000 | 177,306 |
| 1.63%, 01/15/31 (a) | 200,000 | 161,878 |
| 4.15%, 04/01/48 (a) | 200,000 | 176,572 |
| 4.00%, 06/01/49 (a) | 250,000 | 217,730 |
| Oklahoma Gas and Electric Co. | ||
| 3.30%, 03/15/30 (a) | 125,000 | 115,874 |
| 3.25%, 04/01/30 (a) | 150,000 | 138,653 |
| 4.15%, 04/01/47 (a) | 240,000 | 219,230 |
| Oncor Electric Delivery Co. LLC | ||
| 2.75%, 06/01/24 (a) | 500,000 | 493,345 |
| 3.70%, 11/15/28 (a) | 265,000 | 258,030 |
| 5.75%, 03/15/29 (a) | 73,000 | 79,274 |
| 4.15%, 06/01/32 (a)(c) | 150,000 | 150,972 |
| 7.50%, 09/01/38 | 100,000 | 129,022 |
| 5.25%, 09/30/40 | 200,000 | 212,614 |
| 4.55%, 12/01/41 (a) | 250,000 | 243,495 |
| 3.75%, 04/01/45 (a) | 250,000 | 216,550 |
| 3.80%, 09/30/47 (a) | 200,000 | 176,936 |
| 4.10%, 11/15/48 (a) | 150,000 | 138,894 |
| 3.80%, 06/01/49 (a) | 150,000 | 132,921 |
| 3.10%, 09/15/49 (a) | 250,000 | 195,888 |
| 3.70%, 05/15/50 (a) | 150,000 | 130,329 |
| 4.60%, 06/01/52 (a)(c) | 150,000 | 149,421 |
| 5.35%, 10/01/52 (a) | 150,000 | 165,432 |
| Pacific Gas and Electric Co. | ||
| 4.25%, 08/01/23 (a) | 150,000 | 149,642 |
| 1.70%, 11/15/23 (a) | 350,000 | 336,948 |
| 3.85%, 11/15/23 (a) | 250,000 | 247,842 |
| 3.75%, 02/15/24 (a) | 150,000 | 146,961 |
| 3.50%, 06/15/25 (a) | 400,000 | 380,120 |
| 3.45%, 07/01/25 | 300,000 | 282,282 |
| 3.15%, 01/01/26 | 550,000 | 502,128 |
| 2.95%, 03/01/26 (a) | 350,000 | 317,989 |
| 3.30%, 03/15/27 (a) | 100,000 | 90,150 |
| 2.10%, 08/01/27 (a) | 350,000 | 294,147 |
| 3.30%, 12/01/27 (a) | 450,000 | 393,457 |
| 3.00%, 06/15/28 (a) | 250,000 | 216,817 |
| 3.75%, 07/01/28 | 500,000 | 442,055 |
| 4.65%, 08/01/28 (a) | 100,000 | 93,128 |
| 4.55%, 07/01/30 (a) | 1,000,000 | 888,480 |
| 2.50%, 02/01/31 (a) | 700,000 | 538,272 |
| 3.25%, 06/01/31 (a) | 350,000 | 282,866 |
| 5.90%, 06/15/32 (a) | 200,000 | 193,304 |
| 4.50%, 07/01/40 (a) | 350,000 | 271,957 |
| 3.30%, 08/01/40 (a) | 350,000 | 242,823 |
| 4.20%, 06/01/41 (a) | 100,000 | 74,651 |
| 4.45%, 04/15/42 (a) | 150,000 | 114,038 |
| 3.75%, 08/15/42 (a) | 200,000 | 137,722 |
| 4.60%, 06/15/43 (a) | 150,000 | 115,278 |
| 4.75%, 02/15/44 (a) | 100,000 | 76,971 |
| 4.30%, 03/15/45 (a) | 150,000 | 109,671 |
| 4.25%, 03/15/46 (a) | 175,000 | 130,060 |
| 4.00%, 12/01/46 (a) | 200,000 | 140,546 |
| 3.95%, 12/01/47 (a) | 300,000 | 209,838 |
| 4.95%, 07/01/50 (a) | 1,000,000 | 798,050 |
| 3.50%, 08/01/50 (a) | 600,000 | 401,286 |
| PacifiCorp | ||
| 3.50%, 06/15/29 (a) | 100,000 | 95,128 |
| 2.70%, 09/15/30 (a) | 150,000 | 132,920 |
| 7.70%, 11/15/31 | 100,000 | 123,300 |
| 5.75%, 04/01/37 | 100,000 | 106,140 |
| 6.25%, 10/15/37 | 300,000 | 337,716 |
| 6.35%, 07/15/38 | 200,000 | 228,322 |
| 6.00%, 01/15/39 | 100,000 | 110,383 |
90
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.13%, 01/15/49 (a) | 250,000 | 224,607 |
| 4.15%, 02/15/50 (a) | 200,000 | 180,000 |
| 3.30%, 03/15/51 (a) | 250,000 | 196,595 |
| 2.90%, 06/15/52 (a) | 200,000 | 147,076 |
| PECO Energy Co. | ||
| 3.70%, 09/15/47 (a) | 200,000 | 174,404 |
| 3.90%, 03/01/48 (a) | 200,000 | 180,284 |
| 3.00%, 09/15/49 (a) | 100,000 | 76,680 |
| 2.80%, 06/15/50 (a) | 250,000 | 183,825 |
| 2.85%, 09/15/51 (a) | 150,000 | 111,111 |
| PG&E Wildfire Recovery Funding LLC | ||
| 3.59%, 06/01/32 | 150,000 | 149,769 |
| 4.26%, 06/01/38 | 150,000 | 150,366 |
| 4.38%, 06/01/41 | 125,000 | 122,110 |
| 4.45%, 12/01/49 | 400,000 | 400,716 |
| 4.67%, 12/01/53 | 275,000 | 274,986 |
| Pinnacle West Capital Corp. | ||
| 1.30%, 06/15/25 (a) | 250,000 | 229,172 |
| Potomac Electric Power Co. | ||
| 3.60%, 03/15/24 (a) | 250,000 | 250,502 |
| 4.15%, 03/15/43 (a) | 200,000 | 182,594 |
| PPL Capital Funding, Inc. | ||
| 4.13%, 04/15/30 (a) | 250,000 | 240,150 |
| PPL Electric Utilities Corp. | ||
| 6.25%, 05/15/39 | 300,000 | 344,040 |
| 4.75%, 07/15/43 (a) | 100,000 | 98,518 |
| 4.15%, 06/15/48 (a) | 200,000 | 185,506 |
| Progress Energy, Inc. | ||
| 7.75%, 03/01/31 | 350,000 | 410,564 |
| 7.00%, 10/30/31 | 60,000 | 67,649 |
| 6.00%, 12/01/39 | 85,000 | 90,167 |
| Public Service Co. of Colorado | ||
| 3.70%, 06/15/28 (a) | 150,000 | 148,055 |
| 1.90%, 01/15/31 (a) | 255,000 | 215,416 |
| 1.88%, 06/15/31 (a) | 225,000 | 188,156 |
| 6.25%, 09/01/37 | 200,000 | 232,402 |
| 3.60%, 09/15/42 (a) | 100,000 | 85,777 |
| 3.80%, 06/15/47 (a) | 50,000 | 44,096 |
| 4.05%, 09/15/49 (a) | 150,000 | 135,678 |
| 3.20%, 03/01/50 (a) | 250,000 | 198,400 |
| 2.70%, 01/15/51 (a) | 150,000 | 107,885 |
| Public Service Co. of New Hampshire | ||
| 3.50%, 11/01/23 (a) | 300,000 | 300,561 |
| 3.60%, 07/01/49 (a) | 100,000 | 84,183 |
| Public Service Co. of Oklahoma | ||
| 2.20%, 08/15/31 (a) | 150,000 | 125,522 |
| 3.15%, 08/15/51 (a) | 150,000 | 110,979 |
| Public Service Electric and Gas Co. | ||
| 3.25%, 09/01/23 (a) | 50,000 | 50,013 |
| 3.00%, 05/15/27 (a) | 150,000 | 144,671 |
| 3.70%, 05/01/28 (a) | 100,000 | 97,941 |
| 3.20%, 05/15/29 (a) | 200,000 | 189,680 |
| 2.45%, 01/15/30 (a) | 250,000 | 223,772 |
| 1.90%, 08/15/31 (a) | 200,000 | 167,080 |
| 3.95%, 05/01/42 (a) | 100,000 | 91,026 |
| 3.80%, 01/01/43 (a) | 125,000 | 110,268 |
| 3.80%, 03/01/46 (a) | 250,000 | 220,400 |
| 3.60%, 12/01/47 (a) | 150,000 | 127,700 |
| 4.05%, 05/01/48 (a) | 150,000 | 137,121 |
| 3.85%, 05/01/49 (a) | 250,000 | 221,377 |
| 3.20%, 08/01/49 (a) | 150,000 | 120,072 |
| 3.15%, 01/01/50 (a) | 200,000 | 156,084 |
| 2.70%, 05/01/50 (a) | 250,000 | 180,658 |
| 2.05%, 08/01/50 (a) | 200,000 | 125,902 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Public Service Enterprise Group, Inc. | ||
| 2.88%, 06/15/24 (a) | 450,000 | 441,135 |
| 0.80%, 08/15/25 (a) | 225,000 | 203,697 |
| 0.95%, 03/15/26 (a) | 150,000 | 136,346 |
| 1.60%, 08/15/30 (a) | 350,000 | 279,062 |
| Puget Energy, Inc. | ||
| 3.65%, 05/15/25 (a) | 250,000 | 245,657 |
| 4.10%, 06/15/30 (a) | 450,000 | 419,692 |
| 4.22%, 03/15/32 (a) | 150,000 | 138,752 |
| Puget Sound Energy, Inc. | ||
| 6.27%, 03/15/37 | 100,000 | 112,896 |
| 5.80%, 03/15/40 | 25,000 | 26,953 |
| 5.64%, 04/15/41 (a) | 150,000 | 158,673 |
| 4.30%, 05/20/45 (a) | 150,000 | 135,773 |
| 4.22%, 06/15/48 (a) | 250,000 | 223,407 |
| 3.25%, 09/15/49 (a) | 150,000 | 115,536 |
| San Diego Gas & Electric Co. | ||
| 3.60%, 09/01/23 (a) | 100,000 | 100,400 |
| 2.50%, 05/15/26 (a) | 200,000 | 190,512 |
| 1.70%, 10/01/30 (a) | 300,000 | 246,834 |
| 3.75%, 06/01/47 (a) | 275,000 | 233,733 |
| 4.15%, 05/15/48 (a) | 269,000 | 250,348 |
| 4.10%, 06/15/49 (a) | 140,000 | 125,026 |
| 3.32%, 04/15/50 (a) | 150,000 | 116,744 |
| 3.70%, 03/15/52 (a) | 200,000 | 169,926 |
| Sierra Pacific Power Co. | ||
| 2.60%, 05/01/26 (a) | 200,000 | 190,500 |
| Southern California Edison Co. | ||
| 0.70%, 08/01/23 | 200,000 | 194,166 |
| 3.50%, 10/01/23 (a) | 400,000 | 399,656 |
| 1.20%, 02/01/26 (a) | 200,000 | 180,000 |
| 3.65%, 03/01/28 (a) | 100,000 | 94,793 |
| 4.20%, 03/01/29 (a) | 150,000 | 144,638 |
| 6.65%, 04/01/29 | 300,000 | 319,980 |
| 2.85%, 08/01/29 (a) | 200,000 | 177,640 |
| 2.25%, 06/01/30 (a) | 250,000 | 209,910 |
| 2.75%, 02/01/32 (a) | 200,000 | 169,676 |
| 6.00%, 01/15/34 | 200,000 | 214,286 |
| 5.75%, 04/01/35 | 200,000 | 206,934 |
| 5.35%, 07/15/35 | 200,000 | 200,720 |
| 5.55%, 01/15/37 | 200,000 | 201,918 |
| 5.95%, 02/01/38 | 250,000 | 260,605 |
| 6.05%, 03/15/39 | 150,000 | 157,497 |
| 5.50%, 03/15/40 | 250,000 | 247,420 |
| 4.05%, 03/15/42 (a) | 155,000 | 128,932 |
| 3.90%, 03/15/43 (a) | 100,000 | 80,650 |
| 4.65%, 10/01/43 (a) | 350,000 | 317,898 |
| 3.60%, 02/01/45 (a) | 100,000 | 75,400 |
| 4.00%, 04/01/47 (a) | 600,000 | 488,394 |
| 4.13%, 03/01/48 (a) | 450,000 | 372,055 |
| 4.88%, 03/01/49 (a) | 200,000 | 181,756 |
| 3.65%, 02/01/50 (a) | 400,000 | 306,904 |
| 3.45%, 02/01/52 (a) | 200,000 | 149,470 |
| Southern Co. | ||
| 2.95%, 07/01/23 (a) | 550,000 | 543,862 |
| 0.60%, 02/26/24 (a) | 250,000 | 237,035 |
| 4.48%, 08/01/24 | 250,000 | 251,115 |
| 3.25%, 07/01/26 (a) | 700,000 | 671,811 |
| 3.70%, 04/30/30 (a) | 350,000 | 325,223 |
| 4.25%, 07/01/36 (a) | 250,000 | 229,810 |
| 4.40%, 07/01/46 (a) | 500,000 | 436,395 |
| 4.00%, 01/15/51 (a)(b) | 250,000 | 224,100 |
| 3.75%, 09/15/51 (a)(b) | 250,000 | 212,425 |
91
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Southern Power Co. | ||
| 0.90%, 01/15/26 (a) | 50,000 | 44,671 |
| 5.15%, 09/15/41 | 400,000 | 380,212 |
| 4.95%, 12/15/46 (a) | 200,000 | 185,632 |
| Southwestern Electric Power Co. | ||
| 2.75%, 10/01/26 (a) | 500,000 | 469,530 |
| 4.10%, 09/15/28 (a) | 200,000 | 193,636 |
| 3.90%, 04/01/45 (a) | 100,000 | 80,956 |
| 3.85%, 02/01/48 (a) | 150,000 | 122,460 |
| 3.25%, 11/01/51 (a) | 200,000 | 148,192 |
| Southwestern Public Service Co. | ||
| 4.50%, 08/15/41 (a) | 150,000 | 142,109 |
| 3.40%, 08/15/46 (a) | 100,000 | 78,539 |
| 3.70%, 08/15/47 (a) | 200,000 | 166,548 |
| 3.75%, 06/15/49 (a) | 100,000 | 84,399 |
| 3.15%, 05/01/50 (a) | 250,000 | 192,543 |
| Tampa Electric Co. | ||
| 4.10%, 06/15/42 (a) | 100,000 | 88,927 |
| 4.30%, 06/15/48 (a) | 300,000 | 275,169 |
| 3.63%, 06/15/50 (a) | 200,000 | 163,782 |
| The Cleveland Electric Illuminating Co. | ||
| 5.95%, 12/15/36 | 150,000 | 159,804 |
| Toledo Edison Co. | ||
| 6.15%, 05/15/37 | 100,000 | 111,266 |
| Tucson Electric Power Co. | ||
| 3.05%, 03/15/25 (a) | 250,000 | 246,095 |
| 1.50%, 08/01/30 (a) | 300,000 | 240,414 |
| 4.85%, 12/01/48 (a) | 125,000 | 120,521 |
| 4.00%, 06/15/50 (a) | 100,000 | 85,071 |
| Union Electric Co. | ||
| 2.95%, 06/15/27 (a) | 44,000 | 42,031 |
| 3.50%, 03/15/29 (a) | 750,000 | 719,227 |
| 2.95%, 03/15/30 (a) | 150,000 | 136,845 |
| 3.90%, 09/15/42 (a) | 115,000 | 101,362 |
| 3.65%, 04/15/45 (a) | 100,000 | 82,862 |
| 4.00%, 04/01/48 (a) | 250,000 | 220,770 |
| 3.25%, 10/01/49 (a) | 150,000 | 117,431 |
| 2.63%, 03/15/51 (a) | 250,000 | 175,438 |
| 3.90%, 04/01/52 (a) | 150,000 | 132,975 |
| Virginia Electric and Power Co. | ||
| 3.45%, 02/15/24 (a) | 250,000 | 249,720 |
| 3.10%, 05/15/25 (a) | 200,000 | 196,986 |
| 3.15%, 01/15/26 (a) | 250,000 | 243,202 |
| 2.95%, 11/15/26 (a) | 200,000 | 190,946 |
| 3.50%, 03/15/27 (a) | 600,000 | 586,638 |
| 2.88%, 07/15/29 (a) | 150,000 | 137,390 |
| 2.40%, 03/30/32 (a) | 175,000 | 149,902 |
| 6.00%, 01/15/36 | 250,000 | 276,622 |
| 6.00%, 05/15/37 | 350,000 | 388,258 |
| 8.88%, 11/15/38 | 150,000 | 212,391 |
| 4.00%, 01/15/43 (a) | 250,000 | 220,215 |
| 4.45%, 02/15/44 (a) | 250,000 | 233,210 |
| 4.20%, 05/15/45 (a) | 50,000 | 45,121 |
| 3.80%, 09/15/47 (a) | 300,000 | 256,947 |
| 4.60%, 12/01/48 (a) | 250,000 | 241,465 |
| 3.30%, 12/01/49 (a) | 300,000 | 239,976 |
| 2.45%, 12/15/50 (a) | 450,000 | 303,160 |
| 4.63%, 05/15/52 (a) | 175,000 | 170,128 |
| WEC Energy Group, Inc. | ||
| 0.80%, 03/15/24 (a) | 350,000 | 332,958 |
| 1.38%, 10/15/27 (a) | 250,000 | 217,032 |
| 1.80%, 10/15/30 (a) | 250,000 | 201,425 |
| Wisconsin Electric Power Co. | ||
| 2.05%, 12/15/24 (a) | 100,000 | 96,615 |
| 1.70%, 06/15/28 (a) | 150,000 | 130,859 |
| 4.30%, 10/15/48 (a) | 125,000 | 115,898 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Wisconsin Power and Light Co. | ||
| 3.05%, 10/15/27 (a) | 100,000 | 94,943 |
| 3.00%, 07/01/29 (a) | 250,000 | 232,142 |
| 3.65%, 04/01/50 (a) | 200,000 | 165,106 |
| Wisconsin Public Service Corp. | ||
| 3.67%, 12/01/42 | 250,000 | 214,327 |
| 4.75%, 11/01/44 (a) | 150,000 | 145,706 |
| 3.30%, 09/01/49 (a) | 200,000 | 159,418 |
| Xcel Energy, Inc. | ||
| 0.50%, 10/15/23 (a) | 350,000 | 336,875 |
| 3.30%, 06/01/25 (a) | 200,000 | 196,632 |
| 4.00%, 06/15/28 (a) | 250,000 | 245,115 |
| 2.60%, 12/01/29 (a) | 200,000 | 175,876 |
| 3.40%, 06/01/30 (a) | 300,000 | 276,513 |
| 4.60%, 06/01/32 (a) | 250,000 | 248,470 |
| 6.50%, 07/01/36 | 140,000 | 159,701 |
| 3.50%, 12/01/49 (a) | 200,000 | 159,444 |
| 134,669,426 | ||
| Natural Gas 0.1% | ||
| AGL Capital Corp. | ||
| 3.25%, 06/15/26 (a) | 100,000 | 96,156 |
| Atmos Energy Corp. | ||
| 3.00%, 06/15/27 (a) | 200,000 | 192,168 |
| 1.50%, 01/15/31 (a) | 450,000 | 361,192 |
| 5.50%, 06/15/41 (a) | 150,000 | 159,671 |
| 4.15%, 01/15/43 (a) | 200,000 | 178,236 |
| 4.13%, 10/15/44 (a) | 100,000 | 89,754 |
| 4.30%, 10/01/48 (a) | 200,000 | 186,956 |
| 4.13%, 03/15/49 (a) | 150,000 | 137,421 |
| 3.38%, 09/15/49 (a) | 200,000 | 161,648 |
| CenterPoint Energy Resources Corp. | ||
| 4.00%, 04/01/28 (a) | 50,000 | 48,912 |
| 1.75%, 10/01/30 (a) | 200,000 | 162,530 |
| 5.85%, 01/15/41 (a) | 100,000 | 108,318 |
| 4.10%, 09/01/47 (a) | 100,000 | 88,824 |
| National Grid USA | ||
| 5.80%, 04/01/35 | 150,000 | 160,233 |
| NiSource, Inc. | ||
| 0.95%, 08/15/25 (a) | 500,000 | 448,805 |
| 3.49%, 05/15/27 (a) | 225,000 | 215,770 |
| 2.95%, 09/01/29 (a) | 200,000 | 177,734 |
| 3.60%, 05/01/30 (a) | 450,000 | 412,830 |
| 1.70%, 02/15/31 (a) | 200,000 | 156,318 |
| 5.25%, 02/15/43 (a) | 150,000 | 146,529 |
| 4.80%, 02/15/44 (a) | 375,000 | 338,797 |
| 5.65%, 02/01/45 (a) | 300,000 | 300,552 |
| 4.38%, 05/15/47 (a) | 150,000 | 132,609 |
| 3.95%, 03/30/48 (a) | 100,000 | 83,034 |
| ONE Gas, Inc. | ||
| 3.61%, 02/01/24 (a) | 100,000 | 100,011 |
| 1.10%, 03/11/24 (a) | 200,000 | 190,442 |
| 2.00%, 05/15/30 (a) | 100,000 | 84,016 |
| 4.66%, 02/01/44 (a) | 200,000 | 181,846 |
| 4.50%, 11/01/48 (a) | 150,000 | 134,334 |
| Piedmont Natural Gas Co., Inc. | ||
| 3.50%, 06/01/29 (a) | 220,000 | 204,780 |
| 3.64%, 11/01/46 (a) | 210,000 | 167,488 |
| 3.35%, 06/01/50 (a) | 150,000 | 112,140 |
| 5.05%, 05/15/52 (a) | 150,000 | 147,663 |
| Sempra Energy | ||
| 3.25%, 06/15/27 (a) | 350,000 | 332,164 |
| 3.40%, 02/01/28 (a) | 300,000 | 283,527 |
| 3.70%, 04/01/29 (a) | 200,000 | 188,288 |
| 3.80%, 02/01/38 (a) | 250,000 | 211,707 |
92
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 6.00%, 10/15/39 | 250,000 | 264,625 |
| 4.00%, 02/01/48 (a) | 275,000 | 228,258 |
| 4.13%, 04/01/52 (a)(b) | 325,000 | 261,414 |
| Southern California Gas Co. | ||
| 3.20%, 06/15/25 (a) | 50,000 | 49,131 |
| 2.60%, 06/15/26 (a) | 300,000 | 284,886 |
| 2.95%, 04/15/27 (a) | 200,000 | 189,982 |
| 2.55%, 02/01/30 (a) | 250,000 | 221,460 |
| 5.13%, 11/15/40 | 75,000 | 75,492 |
| 3.75%, 09/15/42 (a) | 150,000 | 126,392 |
| 4.13%, 06/01/48 (a) | 150,000 | 132,278 |
| 4.30%, 01/15/49 (a) | 200,000 | 182,346 |
| 3.95%, 02/15/50 (a) | 100,000 | 86,506 |
| Southern Co. Gas Capital Corp. | ||
| 2.45%, 10/01/23 (a) | 50,000 | 49,328 |
| 1.75%, 01/15/31 (a) | 250,000 | 197,660 |
| 5.88%, 03/15/41 (a) | 200,000 | 210,986 |
| 4.40%, 06/01/43 (a) | 100,000 | 87,483 |
| 3.95%, 10/01/46 (a) | 300,000 | 246,075 |
| 4.40%, 05/30/47 (a) | 250,000 | 219,270 |
| Southwest Gas Corp. | ||
| 2.20%, 06/15/30 (a) | 250,000 | 202,703 |
| 3.80%, 09/29/46 (a) | 100,000 | 79,338 |
| 4.15%, 06/01/49 (a) | 150,000 | 125,562 |
| 3.18%, 08/15/51 (a) | 50,000 | 35,201 |
| Washington Gas Light Co. | ||
| 3.80%, 09/15/46 (a) | 205,000 | 176,788 |
| 3.65%, 09/15/49 (a) | 125,000 | 105,086 |
| 10,721,653 | ||
| Utility Other 0.1% | ||
| American Water Capital Corp. | ||
| 3.40%, 03/01/25 (a) | 300,000 | 296,685 |
| 2.95%, 09/01/27 (a) | 100,000 | 94,045 |
| 3.75%, 09/01/28 (a) | 250,000 | 242,097 |
| 3.45%, 06/01/29 (a) | 150,000 | 141,272 |
| 2.80%, 05/01/30 (a) | 200,000 | 179,538 |
| 2.30%, 06/01/31 (a) | 200,000 | 169,480 |
| 4.45%, 06/01/32 (a) | 250,000 | 248,650 |
| 6.59%, 10/15/37 | 300,000 | 349,515 |
| 4.30%, 12/01/42 (a) | 200,000 | 185,680 |
| 4.00%, 12/01/46 (a) | 115,000 | 100,158 |
| 3.75%, 09/01/47 (a) | 250,000 | 209,642 |
| 4.20%, 09/01/48 (a) | 250,000 | 225,392 |
| 4.15%, 06/01/49 (a) | 200,000 | 177,348 |
| 3.45%, 05/01/50 (a) | 125,000 | 99,870 |
| Essential Utilities, Inc. | ||
| 3.57%, 05/01/29 (a) | 150,000 | 140,609 |
| 2.70%, 04/15/30 (a) | 200,000 | 175,324 |
| 2.40%, 05/01/31 (a) | 50,000 | 41,818 |
| 4.28%, 05/01/49 (a) | 200,000 | 175,776 |
| 3.35%, 04/15/50 (a) | 250,000 | 189,490 |
| 5.30%, 05/01/52 (a) | 100,000 | 101,201 |
| Veolia Environnement S.A. | ||
| 6.75%, 06/01/38 | 100,000 | 119,190 |
| 3,662,780 | ||
| 149,053,859 | ||
| Total Corporates (Cost $2,016,419,429) | 1,782,122,769 | |
| TREASURIES 40.6% OF NET ASSETS | ||
| Bonds | ||
| 6.25%, 08/15/23 | 2,248,000 | 2,334,671 |
| 7.50%, 11/15/24 | 1,248,000 | 1,376,554 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 7.63%, 02/15/25 | 1,000,000 | 1,115,820 |
| 6.88%, 08/15/25 | 1,200,000 | 1,337,250 |
| 6.00%, 02/15/26 | 1,889,000 | 2,078,343 |
| 6.75%, 08/15/26 | 1,209,000 | 1,380,338 |
| 6.50%, 11/15/26 | 1,748,000 | 1,991,423 |
| 6.63%, 02/15/27 | 1,000,000 | 1,151,250 |
| 6.38%, 08/15/27 | 1,200,000 | 1,386,328 |
| 6.13%, 11/15/27 | 2,434,000 | 2,798,149 |
| 5.50%, 08/15/28 | 1,748,000 | 1,982,956 |
| 5.25%, 11/15/28 | 2,248,000 | 2,530,054 |
| 5.25%, 02/15/29 | 474,000 | 536,027 |
| 6.13%, 08/15/29 | 1,544,000 | 1,849,181 |
| 6.25%, 05/15/30 | 2,131,000 | 2,611,640 |
| 5.38%, 02/15/31 | 2,594,000 | 3,055,246 |
| 4.50%, 02/15/36 | 3,394,000 | 3,994,049 |
| 4.75%, 02/15/37 | 2,182,000 | 2,636,811 |
| 5.00%, 05/15/37 | 1,248,000 | 1,543,328 |
| 4.38%, 02/15/38 | 1,296,000 | 1,509,536 |
| 4.50%, 05/15/38 | 2,096,000 | 2,473,280 |
| 3.50%, 02/15/39 | 2,472,000 | 2,584,785 |
| 4.25%, 05/15/39 | 3,146,000 | 3,596,763 |
| 4.50%, 08/15/39 | 3,846,000 | 4,526,261 |
| 4.38%, 11/15/39 | 4,625,000 | 5,347,295 |
| 4.63%, 02/15/40 | 3,955,000 | 4,711,394 |
| 1.13%, 05/15/40 | 12,400,000 | 8,640,281 |
| 4.38%, 05/15/40 | 4,194,000 | 4,838,172 |
| 1.13%, 08/15/40 | 15,300,000 | 10,577,320 |
| 3.88%, 08/15/40 | 4,494,000 | 4,848,605 |
| 1.38%, 11/15/40 | 15,900,000 | 11,456,695 |
| 4.25%, 11/15/40 | 4,253,000 | 4,809,545 |
| 1.88%, 02/15/41 | 20,100,000 | 15,775,359 |
| 4.75%, 02/15/41 | 4,292,000 | 5,174,207 |
| 2.25%, 05/15/41 | 17,900,000 | 14,939,508 |
| 4.38%, 05/15/41 | 3,944,000 | 4,520,810 |
| 1.75%, 08/15/41 | 23,100,000 | 17,575,852 |
| 3.75%, 08/15/41 | 3,817,000 | 4,013,814 |
| 2.00%, 11/15/41 | 19,500,000 | 15,490,312 |
| 3.13%, 11/15/41 | 4,344,000 | 4,172,276 |
| 2.38%, 02/15/42 | 15,000,000 | 12,720,703 |
| 3.13%, 02/15/42 | 4,582,000 | 4,390,487 |
| 3.00%, 05/15/42 | 3,998,000 | 3,749,374 |
| 3.25%, 05/15/42 | 9,500,000 | 9,274,375 |
| 2.75%, 08/15/42 | 5,391,000 | 4,838,423 |
| 2.75%, 11/15/42 | 6,408,000 | 5,741,668 |
| 3.13%, 02/15/43 | 6,286,000 | 5,977,102 |
| 2.88%, 05/15/43 | 9,131,000 | 8,331,324 |
| 3.63%, 08/15/43 | 7,017,000 | 7,206,130 |
| 3.75%, 11/15/43 | 7,250,000 | 7,588,145 |
| 3.63%, 02/15/44 | 6,927,000 | 7,110,457 |
| 3.38%, 05/15/44 | 5,794,000 | 5,722,933 |
| 3.13%, 08/15/44 | 7,882,000 | 7,473,737 |
| 3.00%, 11/15/44 | 7,136,000 | 6,617,525 |
| 2.50%, 02/15/45 | 9,382,000 | 7,966,637 |
| 3.00%, 05/15/45 | 4,034,000 | 3,745,317 |
| 2.88%, 08/15/45 | 6,332,000 | 5,757,173 |
| 3.00%, 11/15/45 | 2,382,000 | 2,215,632 |
| 2.50%, 02/15/46 | 6,886,000 | 5,845,031 |
| 2.50%, 05/15/46 | 7,482,000 | 6,348,009 |
| 2.25%, 08/15/46 | 9,978,000 | 8,052,558 |
| 2.88%, 11/15/46 | 4,219,000 | 3,849,178 |
| 3.00%, 02/15/47 | 7,484,000 | 6,992,863 |
| 3.00%, 05/15/47 | 5,238,000 | 4,899,576 |
| 2.75%, 08/15/47 | 8,980,000 | 8,034,294 |
| 2.75%, 11/15/47 | 10,528,000 | 9,434,075 |
| 3.00%, 02/15/48 | 10,734,000 | 10,117,634 |
| 3.13%, 05/15/48 | 12,120,000 | 11,730,834 |
| 3.00%, 08/15/48 | 12,928,000 | 12,221,000 |
| 3.38%, 11/15/48 | 12,784,000 | 12,996,734 |
93
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.00%, 02/15/49 | 14,376,000 | 13,709,987 |
| 2.88%, 05/15/49 | 14,476,000 | 13,504,525 |
| 2.25%, 08/15/49 | 13,276,000 | 10,898,766 |
| 2.38%, 11/15/49 | 13,278,000 | 11,218,873 |
| 2.00%, 02/15/50 | 15,698,000 | 12,174,535 |
| 1.25%, 05/15/50 | 18,300,000 | 11,649,094 |
| 1.38%, 08/15/50 | 21,800,000 | 14,357,344 |
| 1.63%, 11/15/50 | 20,400,000 | 14,353,313 |
| 1.88%, 02/15/51 | 23,300,000 | 17,487,742 |
| 2.38%, 05/15/51 | 22,900,000 | 19,339,766 |
| 2.00%, 08/15/51 | 22,500,000 | 17,398,828 |
| 1.88%, 11/15/51 | 21,300,000 | 15,991,641 |
| 2.25%, 02/15/52 | 19,450,000 | 16,011,301 |
| 2.88%, 05/15/52 | 13,500,000 | 12,751,172 |
| Notes | ||
| 0.13%, 08/15/23 | 12,700,000 | 12,304,861 |
| 2.50%, 08/15/23 | 13,152,000 | 13,089,066 |
| 0.13%, 08/31/23 | 20,000,000 | 19,358,594 |
| 1.38%, 08/31/23 | 8,392,000 | 8,241,698 |
| 2.75%, 08/31/23 | 7,994,000 | 7,977,606 |
| 0.13%, 09/15/23 | 12,800,000 | 12,376,500 |
| 0.25%, 09/30/23 | 20,000,000 | 19,347,656 |
| 1.38%, 09/30/23 | 8,642,000 | 8,477,431 |
| 2.88%, 09/30/23 | 9,172,000 | 9,166,088 |
| 0.13%, 10/15/23 | 13,600,000 | 13,117,359 |
| 0.38%, 10/31/23 | 19,000,000 | 18,364,316 |
| 1.63%, 10/31/23 | 7,740,000 | 7,607,725 |
| 2.88%, 10/31/23 | 9,486,000 | 9,477,848 |
| 0.25%, 11/15/23 | 15,900,000 | 15,324,246 |
| 2.75%, 11/15/23 | 18,978,000 | 18,926,848 |
| 0.50%, 11/30/23 | 20,000,000 | 19,325,391 |
| 2.13%, 11/30/23 | 9,234,000 | 9,130,298 |
| 2.88%, 11/30/23 | 7,776,000 | 7,767,951 |
| 0.13%, 12/15/23 | 14,700,000 | 14,109,990 |
| 0.75%, 12/31/23 | 18,000,000 | 17,416,406 |
| 2.25%, 12/31/23 | 8,342,000 | 8,255,158 |
| 2.63%, 12/31/23 | 8,776,000 | 8,734,177 |
| 0.13%, 01/15/24 | 14,900,000 | 14,267,332 |
| 0.88%, 01/31/24 | 18,000,000 | 17,420,625 |
| 2.25%, 01/31/24 | 8,194,000 | 8,103,418 |
| 2.50%, 01/31/24 | 10,970,000 | 10,890,725 |
| 0.13%, 02/15/24 | 19,000,000 | 18,155,762 |
| 2.75%, 02/15/24 | 16,595,000 | 16,541,844 |
| 1.50%, 02/29/24 | 16,900,000 | 16,503,906 |
| 2.13%, 02/29/24 | 6,738,000 | 6,648,248 |
| 2.38%, 02/29/24 | 9,982,000 | 9,889,783 |
| 0.25%, 03/15/24 | 18,300,000 | 17,475,070 |
| 2.13%, 03/31/24 | 12,418,000 | 12,239,006 |
| 2.25%, 03/31/24 | 16,000,000 | 15,800,312 |
| 0.38%, 04/15/24 | 14,000,000 | 13,368,086 |
| 2.00%, 04/30/24 | 7,994,000 | 7,856,447 |
| 2.25%, 04/30/24 | 10,574,000 | 10,439,140 |
| 2.50%, 04/30/24 | 15,000,000 | 14,871,973 |
| 0.25%, 05/15/24 | 15,000,000 | 14,259,668 |
| 2.50%, 05/15/24 | 19,098,000 | 18,932,758 |
| 2.00%, 05/31/24 | 12,668,000 | 12,440,867 |
| 2.50%, 05/31/24 | 16,000,000 | 15,858,750 |
| 0.25%, 06/15/24 | 15,000,000 | 14,227,441 |
| 1.75%, 06/30/24 | 11,032,000 | 10,769,559 |
| 2.00%, 06/30/24 | 7,940,000 | 7,791,590 |
| 3.00%, 06/30/24 | 14,000,000 | 14,009,023 |
| 0.38%, 07/15/24 | 13,900,000 | 13,187,082 |
| 1.75%, 07/31/24 | 10,078,000 | 9,828,018 |
| 2.13%, 07/31/24 | 6,488,000 | 6,376,488 |
| 0.38%, 08/15/24 | 17,000,000 | 16,083,594 |
| 2.38%, 08/15/24 | 17,768,000 | 17,538,265 |
| 1.25%, 08/31/24 | 9,186,000 | 8,851,931 |
| 1.88%, 08/31/24 | 7,490,000 | 7,315,038 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.38%, 09/15/24 | 19,000,000 | 17,934,961 |
| 1.50%, 09/30/24 | 8,982,000 | 8,690,436 |
| 2.13%, 09/30/24 | 5,784,000 | 5,678,261 |
| 0.63%, 10/15/24 | 18,500,000 | 17,530,918 |
| 1.50%, 10/31/24 | 9,480,000 | 9,160,420 |
| 2.25%, 10/31/24 | 7,038,000 | 6,920,333 |
| 0.75%, 11/15/24 | 16,800,000 | 15,931,125 |
| 2.25%, 11/15/24 | 17,870,000 | 17,575,424 |
| 1.50%, 11/30/24 | 9,480,000 | 9,147,089 |
| 2.13%, 11/30/24 | 5,988,000 | 5,865,199 |
| 1.00%, 12/15/24 | 17,000,000 | 16,191,836 |
| 1.75%, 12/31/24 | 9,982,000 | 9,675,911 |
| 2.25%, 12/31/24 | 7,988,000 | 7,841,969 |
| 1.13%, 01/15/25 | 16,000,000 | 15,260,000 |
| 1.38%, 01/31/25 | 8,696,000 | 8,341,366 |
| 2.50%, 01/31/25 | 7,488,000 | 7,390,890 |
| 1.50%, 02/15/25 | 14,000,000 | 13,457,500 |
| 2.00%, 02/15/25 | 16,486,000 | 16,068,054 |
| 1.13%, 02/28/25 | 9,998,000 | 9,517,627 |
| 2.75%, 02/28/25 | 7,890,000 | 7,835,140 |
| 1.75%, 03/15/25 | 14,000,000 | 13,537,344 |
| 0.50%, 03/31/25 | 12,200,000 | 11,387,938 |
| 2.63%, 03/31/25 | 4,724,000 | 4,677,129 |
| 2.63%, 04/15/25 | 14,000,000 | 13,849,609 |
| 0.38%, 04/30/25 | 10,900,000 | 10,117,414 |
| 2.88%, 04/30/25 | 6,986,000 | 6,957,619 |
| 2.13%, 05/15/25 | 14,880,400 | 14,519,434 |
| 2.75%, 05/15/25 | 12,500,000 | 12,405,274 |
| 0.25%, 05/31/25 | 12,700,000 | 11,720,711 |
| 2.88%, 05/31/25 | 6,788,000 | 6,760,159 |
| 2.88%, 06/15/25 | 14,000,000 | 13,945,859 |
| 0.25%, 06/30/25 | 13,500,000 | 12,431,074 |
| 2.75%, 06/30/25 | 4,988,000 | 4,949,811 |
| 0.25%, 07/31/25 | 14,100,000 | 12,947,215 |
| 2.88%, 07/31/25 | 5,386,000 | 5,362,226 |
| 2.00%, 08/15/25 | 17,168,000 | 16,638,877 |
| 0.25%, 08/31/25 | 13,900,000 | 12,730,445 |
| 2.75%, 08/31/25 | 6,236,000 | 6,181,679 |
| 0.25%, 09/30/25 | 16,300,000 | 14,893,488 |
| 3.00%, 09/30/25 | 6,682,000 | 6,673,648 |
| 0.25%, 10/31/25 | 16,800,000 | 15,312,938 |
| 3.00%, 10/31/25 | 5,688,000 | 5,680,446 |
| 2.25%, 11/15/25 | 18,072,000 | 17,606,787 |
| 0.38%, 11/30/25 | 15,600,000 | 14,251,453 |
| 2.88%, 11/30/25 | 7,682,000 | 7,637,588 |
| 0.38%, 12/31/25 | 15,800,000 | 14,399,602 |
| 2.63%, 12/31/25 | 6,486,000 | 6,397,071 |
| 0.38%, 01/31/26 | 18,100,000 | 16,458,981 |
| 2.63%, 01/31/26 | 7,938,000 | 7,825,442 |
| 1.63%, 02/15/26 | 16,672,000 | 15,854,030 |
| 0.50%, 02/28/26 | 19,000,000 | 17,321,172 |
| 2.50%, 02/28/26 | 8,476,000 | 8,315,420 |
| 0.75%, 03/31/26 | 18,000,000 | 16,537,500 |
| 2.25%, 03/31/26 | 7,086,000 | 6,886,706 |
| 0.75%, 04/30/26 | 16,300,000 | 14,944,426 |
| 2.38%, 04/30/26 | 6,084,000 | 5,939,267 |
| 1.63%, 05/15/26 | 16,285,000 | 15,437,035 |
| 0.75%, 05/31/26 | 18,500,000 | 16,928,945 |
| 2.13%, 05/31/26 | 8,388,000 | 8,104,905 |
| 0.88%, 06/30/26 | 16,000,000 | 14,690,000 |
| 1.88%, 06/30/26 | 7,984,000 | 7,637,507 |
| 0.63%, 07/31/26 | 17,500,000 | 15,872,363 |
| 1.88%, 07/31/26 | 6,284,000 | 6,003,675 |
| 1.50%, 08/15/26 | 16,724,000 | 15,709,454 |
| 0.75%, 08/31/26 | 19,000,000 | 17,295,195 |
| 1.38%, 08/31/26 | 5,986,000 | 5,595,975 |
| 0.88%, 09/30/26 | 16,200,000 | 14,797,688 |
| 1.63%, 09/30/26 | 5,990,000 | 5,651,425 |
94
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.13%, 10/31/26 | 17,500,000 | 16,132,129 |
| 1.63%, 10/31/26 | 7,584,000 | 7,144,365 |
| 2.00%, 11/15/26 | 14,582,000 | 13,945,177 |
| 1.25%, 11/30/26 | 18,000,000 | 16,670,391 |
| 1.63%, 11/30/26 | 7,286,000 | 6,857,663 |
| 1.25%, 12/31/26 | 18,000,000 | 16,640,156 |
| 1.75%, 12/31/26 | 5,490,000 | 5,191,910 |
| 1.50%, 01/31/27 | 23,190,000 | 21,653,662 |
| 2.25%, 02/15/27 | 13,626,000 | 13,141,106 |
| 1.13%, 02/28/27 | 4,300,000 | 3,940,379 |
| 1.88%, 02/28/27 | 15,500,000 | 14,715,918 |
| 0.63%, 03/31/27 | 6,600,000 | 5,891,789 |
| 2.50%, 03/31/27 | 16,000,000 | 15,613,750 |
| 0.50%, 04/30/27 | 10,350,000 | 9,161,771 |
| 2.75%, 04/30/27 | 15,000,000 | 14,799,609 |
| 2.38%, 05/15/27 | 15,420,000 | 14,930,295 |
| 0.50%, 05/31/27 | 6,700,000 | 5,917,723 |
| 2.63%, 05/31/27 | 14,000,000 | 13,736,953 |
| 0.50%, 06/30/27 | 11,400,000 | 10,048,922 |
| 3.25%, 06/30/27 | 15,000,000 | 15,148,828 |
| 0.38%, 07/31/27 | 13,600,000 | 11,888,844 |
| 2.25%, 08/15/27 | 13,272,000 | 12,747,860 |
| 0.50%, 08/31/27 | 11,000,000 | 9,654,648 |
| 0.38%, 09/30/27 | 15,000,000 | 13,048,828 |
| 0.50%, 10/31/27 | 14,700,000 | 12,844,699 |
| 2.25%, 11/15/27 | 14,074,000 | 13,495,647 |
| 0.63%, 11/30/27 | 14,700,000 | 12,911,309 |
| 0.63%, 12/31/27 | 17,900,000 | 15,687,672 |
| 0.75%, 01/31/28 | 18,200,000 | 16,033,773 |
| 2.75%, 02/15/28 | 18,822,000 | 18,494,821 |
| 1.13%, 02/29/28 | 18,300,000 | 16,458,562 |
| 1.25%, 03/31/28 | 17,000,000 | 15,361,758 |
| 1.25%, 04/30/28 | 18,600,000 | 16,782,867 |
| 2.88%, 05/15/28 | 18,770,000 | 18,555,905 |
| 1.25%, 05/31/28 | 18,000,000 | 16,217,578 |
| 1.25%, 06/30/28 | 15,700,000 | 14,125,707 |
| 1.00%, 07/31/28 | 17,500,000 | 15,482,031 |
| 2.88%, 08/15/28 | 18,868,000 | 18,640,994 |
| 1.13%, 08/31/28 | 16,000,000 | 14,242,500 |
| 1.25%, 09/30/28 | 17,700,000 | 15,856,019 |
| 1.38%, 10/31/28 | 15,500,000 | 13,977,852 |
| 3.13%, 11/15/28 | 16,714,000 | 16,751,215 |
| 1.50%, 11/30/28 | 15,000,000 | 13,624,219 |
| 1.38%, 12/31/28 | 15,000,000 | 13,522,266 |
| 1.75%, 01/31/29 | 11,800,000 | 10,882,734 |
| 2.63%, 02/15/29 | 14,666,000 | 14,281,018 |
| 1.88%, 02/28/29 | 12,500,000 | 11,623,047 |
| 2.38%, 03/31/29 | 12,400,000 | 11,873,969 |
| 2.88%, 04/30/29 | 11,000,000 | 10,874,531 |
| 2.38%, 05/15/29 | 15,058,000 | 14,429,799 |
| 2.75%, 05/31/29 | 12,000,000 | 11,768,438 |
| 3.25%, 06/30/29 | 12,000,000 | 12,143,438 |
| 1.63%, 08/15/29 | 13,666,000 | 12,445,669 |
| 1.75%, 11/15/29 | 9,766,000 | 8,964,120 |
| 1.50%, 02/15/30 | 17,398,000 | 15,631,016 |
| 0.63%, 05/15/30 | 24,700,000 | 20,605,203 |
| 0.63%, 08/15/30 (h) | 31,900,000 | 26,454,570 |
| 0.88%, 11/15/30 (h) | 33,800,000 | 28,542,516 |
| 1.13%, 02/15/31 (h) | 33,800,000 | 29,046,875 |
| 1.63%, 05/15/31 | 34,400,000 | 30,739,625 |
| 1.25%, 08/15/31 (h) | 41,500,000 | 35,728,906 |
| 1.38%, 11/15/31 | 41,300,000 | 35,827,750 |
| 1.88%, 02/15/32 (h) | 40,300,000 | 36,512,430 |
| 2.88%, 05/15/32 | 24,250,000 | 23,982,871 |
| Total Treasuries (Cost $3,290,927,604) | 3,056,749,268 | |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| GOVERNMENT RELATED 5.3% OF NET ASSETS | ||
| Agency 2.0% | ||
| Foreign 0.7% | ||
| Austria 0.0% | ||
| Oesterreichische Kontrollbank AG | ||
| 1.63%, 09/17/22 | 250,000 | 249,762 |
| 2.88%, 03/13/23 | 650,000 | 650,949 |
| 1.50%, 02/12/25 | 700,000 | 672,273 |
| 0.38%, 09/17/25 | 500,000 | 458,035 |
| 0.50%, 02/02/26 | 500,000 | 455,080 |
| 2,486,099 | ||
| Canada 0.0% | ||
| Export Development Canada | ||
| 2.75%, 03/15/23 | 450,000 | 450,009 |
| 2.63%, 02/21/24 | 240,000 | 238,426 |
| 688,435 | ||
| China 0.0% | ||
| Industrial & Commercial Bank of China Ltd. | ||
| 2.96%, 11/08/22 | 250,000 | 249,767 |
| 3.54%, 11/08/27 | 250,000 | 248,038 |
| 497,805 | ||
| Germany 0.3% | ||
| FMS Wertmanagement | ||
| 2.75%, 03/06/23 (i) | 275,000 | 274,989 |
| 2.75%, 01/30/24 (i) | 700,000 | 696,703 |
| Kreditanstalt Fuer Wiederaufbau | ||
| 2.00%, 10/04/22 (i) | 750,000 | 749,602 |
| 2.38%, 12/29/22 (i) | 900,000 | 898,758 |
| 2.13%, 01/17/23 (i) | 400,000 | 398,920 |
| 2.63%, 02/28/24 (i) | 1,700,000 | 1,688,695 |
| 0.25%, 03/08/24 (i) | 1,500,000 | 1,431,780 |
| 1.38%, 08/05/24 (i) | 1,400,000 | 1,353,478 |
| 0.50%, 09/20/24 (i) | 2,000,000 | 1,891,500 |
| 2.50%, 11/20/24 (i) | 2,200,000 | 2,171,488 |
| 1.25%, 01/31/25 (i) | 1,750,000 | 1,671,740 |
| 0.38%, 07/18/25 (i) | 1,550,000 | 1,427,488 |
| 0.63%, 01/22/26 (i) | 1,750,000 | 1,602,597 |
| 1.00%, 10/01/26 (i) | 1,000,000 | 916,160 |
| 2.88%, 04/03/28 (i) | 1,100,000 | 1,083,093 |
| 1.75%, 09/14/29 (i) | 700,000 | 637,770 |
| 0.75%, 09/30/30 (i) | 700,000 | 580,489 |
| 0.00%, 04/18/36 (i)(j) | 250,000 | 158,570 |
| 0.00%, 06/29/37 (i)(j) | 850,000 | 511,369 |
| Landwirtschaftliche Rentenbank | ||
| 3.13%, 11/14/23 (i) | 550,000 | 550,858 |
| 2.00%, 01/13/25 (i) | 1,150,000 | 1,120,744 |
| 2.38%, 06/10/25 (i) | 600,000 | 587,244 |
| 0.88%, 03/30/26 (i) | 500,000 | 459,485 |
| 1.75%, 07/27/26 (i) | 500,000 | 473,575 |
| 2.50%, 11/15/27 (i) | 500,000 | 482,310 |
| 0.88%, 09/03/30 (i) | 750,000 | 627,563 |
| 24,446,968 | ||
| Japan 0.2% | ||
| Japan Bank for International Cooperation | ||
| 2.38%, 11/16/22 | 500,000 | 499,810 |
| 0.63%, 05/22/23 | 250,000 | 245,190 |
| 3.25%, 07/20/23 | 800,000 | 801,920 |
95
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.38%, 09/15/23 | 150,000 | 145,350 |
| 3.38%, 10/31/23 | 350,000 | 351,312 |
| 2.50%, 05/23/24 | 1,150,000 | 1,135,360 |
| 1.75%, 10/17/24 | 300,000 | 290,820 |
| 2.50%, 05/28/25 | 200,000 | 195,890 |
| 0.63%, 07/15/25 | 700,000 | 646,870 |
| 1.88%, 07/21/26 | 350,000 | 330,838 |
| 2.25%, 11/04/26 | 1,400,000 | 1,338,414 |
| 2.88%, 06/01/27 | 1,450,000 | 1,416,157 |
| 2.88%, 07/21/27 | 650,000 | 634,166 |
| 2.75%, 11/16/27 | 700,000 | 676,501 |
| 3.25%, 07/20/28 | 400,000 | 397,360 |
| 3.50%, 10/31/28 | 350,000 | 350,483 |
| 2.13%, 02/16/29 | 400,000 | 369,444 |
| 2.00%, 10/17/29 | 700,000 | 636,125 |
| 1.25%, 01/21/31 | 250,000 | 210,833 |
| 1.88%, 04/15/31 | 1,250,000 | 1,103,562 |
| Japan International Cooperation Agency | ||
| 2.13%, 10/20/26 | 200,000 | 190,306 |
| 2.75%, 04/27/27 | 200,000 | 193,868 |
| 1.00%, 07/22/30 | 370,000 | 306,497 |
| 1.75%, 04/28/31 | 350,000 | 304,924 |
| 12,772,000 | ||
| Norway 0.1% | ||
| Equinor A.S.A. | ||
| 2.65%, 01/15/24 | 450,000 | 446,107 |
| 3.70%, 03/01/24 | 550,000 | 552,942 |
| 3.25%, 11/10/24 | 150,000 | 149,304 |
| 2.88%, 04/06/25 (a) | 450,000 | 442,251 |
| 1.75%, 01/22/26 (a) | 250,000 | 233,338 |
| 3.00%, 04/06/27 (a) | 150,000 | 144,506 |
| 7.25%, 09/23/27 | 50,000 | 57,205 |
| 3.63%, 09/10/28 (a) | 250,000 | 244,787 |
| 3.13%, 04/06/30 (a) | 450,000 | 417,460 |
| 2.38%, 05/22/30 (a) | 250,000 | 219,643 |
| 3.63%, 04/06/40 (a) | 200,000 | 176,306 |
| 4.25%, 11/23/41 | 200,000 | 189,284 |
| 3.95%, 05/15/43 | 300,000 | 268,893 |
| 4.80%, 11/08/43 | 260,000 | 261,251 |
| 3.25%, 11/18/49 (a) | 350,000 | 279,853 |
| 3.70%, 04/06/50 (a) | 450,000 | 389,142 |
| 4,472,272 | ||
| Republic of Korea 0.1% | ||
| Export-Import Bank of Korea | ||
| 2.38%, 06/25/24 | 450,000 | 442,665 |
| 1.25%, 01/18/25 | 300,000 | 283,896 |
| 2.88%, 01/21/25 | 700,000 | 689,864 |
| 1.88%, 02/12/25 | 200,000 | 192,050 |
| 3.25%, 11/10/25 | 750,000 | 743,182 |
| 2.63%, 05/26/26 | 250,000 | 242,185 |
| 3.25%, 08/12/26 | 200,000 | 198,046 |
| 1.13%, 12/29/26 | 550,000 | 495,973 |
| 1.63%, 01/18/27 | 300,000 | 275,625 |
| 2.38%, 04/21/27 | 250,000 | 236,950 |
| 1.25%, 09/21/30 | 700,000 | 578,284 |
| 2.13%, 01/18/32 | 350,000 | 302,271 |
| Korea Development Bank | ||
| 3.75%, 01/22/24 | 300,000 | 302,247 |
| 0.40%, 03/09/24 | 200,000 | 190,650 |
| 2.13%, 10/01/24 | 350,000 | 340,889 |
| 3.38%, 09/16/25 | 500,000 | 498,040 |
| 3.00%, 01/13/26 | 200,000 | 196,936 |
| 0.80%, 07/19/26 | 400,000 | 359,512 |
| 1.00%, 09/09/26 | 250,000 | 225,810 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.00%, 09/12/26 | 350,000 | 329,553 |
| 1.63%, 01/19/31 | 450,000 | 379,728 |
| 2.00%, 10/25/31 | 250,000 | 213,518 |
| 7,717,874 | ||
| Sweden 0.0% | ||
| Svensk Exportkredit AB | ||
| 2.88%, 03/14/23 | 200,000 | 200,124 |
| 0.75%, 04/06/23 | 600,000 | 591,108 |
| 0.50%, 11/10/23 | 500,000 | 483,295 |
| 1.75%, 12/12/23 | 500,000 | 491,165 |
| 0.38%, 03/11/24 | 500,000 | 477,530 |
| 0.38%, 07/30/24 | 350,000 | 331,405 |
| 0.63%, 10/07/24 | 200,000 | 189,152 |
| 0.63%, 05/14/25 | 500,000 | 465,210 |
| 0.50%, 08/26/25 | 300,000 | 275,877 |
| 2.25%, 03/22/27 | 350,000 | 334,176 |
| 3,839,042 | ||
| 56,920,495 | ||
| U.S. 1.3% | ||
| Fannie Mae | ||
| 0.25%, 07/10/23 | 3,000,000 | 2,914,590 |
| 2.88%, 09/12/23 | 3,000,000 | 3,000,030 |
| 0.25%, 11/27/23 | 2,000,000 | 1,927,480 |
| 2.50%, 02/05/24 | 4,500,000 | 4,469,040 |
| 1.63%, 01/07/25 | 1,000,000 | 965,950 |
| 0.50%, 06/17/25 | 2,500,000 | 2,319,875 |
| 0.38%, 08/25/25 | 3,500,000 | 3,216,220 |
| 0.50%, 11/07/25 | 4,000,000 | 3,672,640 |
| 2.13%, 04/24/26 | 6,000,000 | 5,796,360 |
| 0.75%, 10/08/27 | 5,000,000 | 4,433,600 |
| 7.13%, 01/15/30 | 527,000 | 662,660 |
| 7.25%, 05/15/30 | 1,000,000 | 1,272,790 |
| 0.88%, 08/05/30 | 1,000,000 | 827,600 |
| 6.63%, 11/15/30 | 2,700,000 | 3,337,902 |
| 5.63%, 07/15/37 | 1,500,000 | 1,833,240 |
| Federal Farm Credit Banks Funding Corp. | ||
| 0.20%, 10/02/23 | 1,000,000 | 967,420 |
| 0.25%, 02/26/24 | 800,000 | 765,928 |
| 3.10%, 06/28/24 | 2,000,000 | 2,001,460 |
| Federal Home Loan Banks | ||
| 2.50%, 02/13/24 | 1,600,000 | 1,588,640 |
| 2.13%, 02/28/24 | 1,500,000 | 1,479,450 |
| 2.88%, 06/14/24 | 1,075,000 | 1,070,980 |
| 1.50%, 08/15/24 | 2,000,000 | 1,940,820 |
| 5.38%, 08/15/24 | 1,750,000 | 1,830,780 |
| 0.50%, 04/14/25 | 2,000,000 | 1,865,540 |
| 0.50%, 06/13/25 | 2,000,000 | 1,856,360 |
| 0.38%, 09/04/25 | 1,000,000 | 919,600 |
| 3.25%, 11/16/28 | 5,000,000 | 5,026,250 |
| 5.50%, 07/15/36 | 400,000 | 483,260 |
| Freddie Mac | ||
| 0.25%, 08/24/23 | 6,000,000 | 5,819,700 |
| 0.25%, 09/08/23 | 3,000,000 | 2,907,300 |
| 0.13%, 10/16/23 | 3,000,000 | 2,894,610 |
| 0.25%, 11/06/23 | 2,500,000 | 2,412,525 |
| 0.25%, 12/04/23 | 3,000,000 | 2,887,170 |
| 1.50%, 02/12/25 | 5,000,000 | 4,808,000 |
| 0.38%, 07/21/25 | 3,000,000 | 2,766,840 |
| 0.38%, 09/23/25 | 3,000,000 | 2,752,260 |
| 6.75%, 09/15/29 | 500,000 | 615,540 |
| 6.75%, 03/15/31 | 1,564,000 | 1,961,068 |
| 6.25%, 07/15/32 | 700,000 | 869,218 |
96
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Tennessee Valley Authority | ||
| 2.88%, 09/15/24 | 2,000,000 | 1,989,760 |
| 6.75%, 11/01/25 | 488,000 | 544,086 |
| 2.88%, 02/01/27 | 500,000 | 494,015 |
| 5.25%, 09/15/39 | 750,000 | 854,393 |
| 4.63%, 09/15/60 | 100,000 | 113,089 |
| 97,136,039 | ||
| 154,056,534 | ||
| Local Authority 0.9% | ||
| Foreign 0.3% | ||
| Canada 0.3% | ||
| Hydro-Quebec | ||
| 8.05%, 07/07/24 | 810,000 | 881,863 |
| Province of Alberta | ||
| 3.35%, 11/01/23 | 646,000 | 647,964 |
| 2.95%, 01/23/24 | 500,000 | 498,825 |
| 1.88%, 11/13/24 | 700,000 | 679,273 |
| 1.00%, 05/20/25 | 200,000 | 188,002 |
| 3.30%, 03/15/28 | 750,000 | 744,247 |
| 1.30%, 07/22/30 | 850,000 | 722,330 |
| Province of British Columbia | ||
| 1.75%, 09/27/24 | 500,000 | 486,045 |
| 2.25%, 06/02/26 | 500,000 | 481,285 |
| 0.90%, 07/20/26 | 600,000 | 546,288 |
| 1.30%, 01/29/31 (e) | 750,000 | 634,057 |
| Province of Manitoba | ||
| 2.60%, 04/16/24 | 250,000 | 247,805 |
| 3.05%, 05/14/24 | 250,000 | 249,550 |
| 2.13%, 06/22/26 | 300,000 | 286,197 |
| 1.50%, 10/25/28 | 250,000 | 222,770 |
| Province of New Brunswick | ||
| 3.63%, 02/24/28 | 100,000 | 101,203 |
| Province of Ontario | ||
| 3.40%, 10/17/23 | 800,000 | 803,304 |
| 3.05%, 01/29/24 | 1,100,000 | 1,099,901 |
| 3.20%, 05/16/24 | 550,000 | 550,385 |
| 0.63%, 01/21/26 | 750,000 | 683,805 |
| 1.05%, 04/14/26 | 750,000 | 690,465 |
| 2.50%, 04/27/26 | 600,000 | 582,276 |
| 2.30%, 06/15/26 | 550,000 | 529,249 |
| 1.05%, 05/21/27 | 400,000 | 358,352 |
| 2.00%, 10/02/29 | 400,000 | 362,932 |
| 1.13%, 10/07/30 | 500,000 | 417,455 |
| 1.60%, 02/25/31 | 500,000 | 430,535 |
| 1.80%, 10/14/31 | 500,000 | 432,235 |
| Province of Quebec | ||
| 7.50%, 07/15/23 | 150,000 | 156,867 |
| 7.13%, 02/09/24 | 500,000 | 529,840 |
| 2.50%, 04/09/24 | 200,000 | 197,818 |
| 2.88%, 10/16/24 | 600,000 | 596,970 |
| 1.50%, 02/11/25 | 900,000 | 863,721 |
| 0.60%, 07/23/25 | 1,050,000 | 970,725 |
| 2.50%, 04/20/26 | 300,000 | 291,501 |
| 2.75%, 04/12/27 | 500,000 | 487,585 |
| 7.50%, 09/15/29 | 468,000 | 584,111 |
| 1.35%, 05/28/30 | 400,000 | 342,736 |
| 1.90%, 04/21/31 | 300,000 | 265,329 |
| 19,845,801 | ||
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| U.S. 0.6% | ||
| Alameda County Joint Powers Authority | ||
| RB (Build America Bonds) Series 2010 | ||
| 7.05%, 12/01/44 | 105,000 | 136,610 |
| American Municipal Power, Inc. | ||
| RB (Build America Bonds) Series 2010 | ||
| 5.94%, 02/15/47 | 200,000 | 234,099 |
| RB (Build America Bonds) Series 2010 | ||
| 6.27%, 02/15/50 | 480,000 | 557,606 |
| RB (Build America Bonds) Series 2010 | ||
| 8.08%, 02/15/50 | 250,000 | 362,814 |
| Bay Area Toll Authority | ||
| RB (Build America Bonds) Series 2009F2 | ||
| 6.26%, 04/01/49 | 500,000 | 639,685 |
| RB (Build America Bonds) Series 2010S1 | ||
| 7.04%, 04/01/50 | 300,000 | 417,388 |
| RB (Build America Bonds) Series 2010S3 | ||
| 6.91%, 10/01/50 | 350,000 | 487,625 |
| California | ||
| GO (Build America Bonds) Series 2009 | ||
| 7.50%, 04/01/34 | 1,250,000 | 1,605,899 |
| GO (Build America Bonds) Series 2009 | ||
| 7.55%, 04/01/39 | 1,400,000 | 1,905,081 |
| GO (Build America Bonds) Series 2009 | ||
| 7.30%, 10/01/39 | 950,000 | 1,232,296 |
| GO (Build America Bonds) Series 2009 | ||
| 7.35%, 11/01/39 | 615,000 | 803,773 |
| California State University | ||
| RB Series 2017B | ||
| 3.90%, 11/01/47 (a) | 100,000 | 92,706 |
| Series B | ||
| 2.72%, 11/01/52 | 400,000 | 299,274 |
| Chicago O'Hare International Airport | ||
| RB (Build America Bonds) Series 2010B | ||
| 6.40%, 01/01/40 | 150,000 | 179,884 |
| Series C | ||
| 4.47%, 01/01/49 | 150,000 | 150,891 |
| Series C | ||
| 4.57%, 01/01/54 | 50,000 | 50,791 |
| Chicago Transit Authority Sales & Transfer Tax Receipts Revenue | ||
| RB (Pension Funding) Series 2008A | ||
| 6.90%, 12/01/40 | 445,000 | 528,175 |
| RB (Pension Funding) Series 2008B | ||
| 6.90%, 12/01/40 | 200,000 | 240,235 |
| City of Atlanta GA Water & Wastewater Revenue | ||
| 2.26%, 11/01/35 (a) | 125,000 | 101,484 |
| City of Houston TX | ||
| GO Bonds (Pension Funding) Series 2017 | ||
| 3.96%, 03/01/47 | 255,000 | 240,570 |
| City of San Antonio TX Electric & Gas Systems Revenue | ||
| 2.91%, 02/01/48 (a) | 125,000 | 96,235 |
| RB (Build America Bonds) Series 2009 | ||
| 5.99%, 02/01/39 | 150,000 | 173,877 |
| RB Series 2012 | ||
| 4.43%, 02/01/42 | 200,000 | 202,185 |
| City of San Francisco CA Public Utilities Commission Water Revenue | ||
| RB (Build America Bonds) Series 2010 | ||
| 6.95%, 11/01/50 | 150,000 | 197,117 |
97
Schwab Fixed-Income ETFs | Semiannual Report
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Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Series A | ||
| 3.30%, 11/01/39 (a) | 250,000 | 212,875 |
| City of Tucson AZ | ||
| Series A, (AGM) | ||
| 2.86%, 07/01/47 | 650,000 | 493,037 |
| Commonwealth Financing Authority | ||
| Series A | ||
| 4.14%, 06/01/38 | 215,000 | 209,424 |
| Commonwealth of Massachusetts | ||
| GO (Build America Bonds) Series 2009 | ||
| 5.46%, 12/01/39 | 100,000 | 112,815 |
| GO (Build America Bonds) Series 2010D | ||
| 4.50%, 08/01/31 | 400,000 | 415,420 |
| Series D | ||
| 2.66%, 09/01/39 | 144,059 | 121,635 |
| Series D | ||
| 2.81%, 09/01/43 | 150,000 | 119,391 |
| Series H | ||
| 2.90%, 09/01/49 | 300,000 | 236,056 |
| Commonwealth of Massachusetts Transportation Fund Revenue | ||
| RB (Build America Bonds) Series 2010 | ||
| 5.73%, 06/01/40 | 200,000 | 226,448 |
| Connecticut | ||
| GO Bonds Series 2008A | ||
| 5.85%, 03/15/32 | 700,000 | 785,836 |
| County of Clark Department of Aviation | ||
| RB (Build America Bonds) Series 2010C | ||
| 6.82%, 07/01/45 | 350,000 | 448,416 |
| County of Cook IL | ||
| GO (Build America Bonds) Series D | ||
| 6.23%, 11/15/34 | 50,000 | 57,568 |
| County of Miami-Dade FL Water & Sewer System Revenue | ||
| Series C | ||
| 3.49%, 10/01/42 (a) | 150,000 | 125,895 |
| Dallas Area Rapid Transit | ||
| RB (Build America Bonds) Series 2010 | ||
| 5.02%, 12/01/48 | 250,000 | 272,986 |
| Series B | ||
| 6.00%, 12/01/44 | 300,000 | 363,997 |
| Dallas County Hospital District | ||
| GO (Build America Bonds) Series C | ||
| 5.62%, 08/15/44 | 150,000 | 171,315 |
| Dallas Fort Worth International Airport | ||
| Series A | ||
| 2.99%, 11/01/38 | 150,000 | 130,016 |
| Series A | ||
| 3.14%, 11/01/45 | 20,000 | 16,590 |
| Series C | ||
| 3.09%, 11/01/40 (a) | 160,000 | 133,819 |
| Dallas Independent School District | ||
| GO (Build America Bonds) Series 2010C | ||
| 6.45%, 02/15/35 (a) | 350,000 | 368,368 |
| Dallas/Fort Worth International Airport | ||
| RB Series 2020C | ||
| 2.92%, 11/01/50 | 150,000 | 118,028 |
| District of Columbia | ||
| Series E | ||
| 5.59%, 12/01/34 | 350,000 | 391,542 |
| District of Columbia Water & Sewer Authority | ||
| RB Series 2014A | ||
| 4.81%, 10/01/14 | 185,000 | 182,136 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| East Bay Municipal Utility District Water System Revenue | ||
| Water System RB (Build America Bonds) Series 2010 | ||
| 5.87%, 06/01/40 | 50,000 | 59,281 |
| Florida State Board of Administration Finance Corp. | ||
| Series A | ||
| 1.26%, 07/01/25 | 350,000 | 327,315 |
| Series A | ||
| 1.71%, 07/01/27 | 350,000 | 318,535 |
| Series A | ||
| 2.15%, 07/01/30 | 350,000 | 304,589 |
| Foothill-Eastern Transportation Corridor Agency | ||
| Series A | ||
| 4.09%, 01/15/49 (a) | 100,000 | 86,461 |
| Series A | ||
| 3.92%, 01/15/53 (a) | 100,000 | 86,944 |
| Golden State Tobacco Securitization Corp. | ||
| 3.00%, 06/01/46 | 175,000 | 156,412 |
| Grand Parkway Transportation Corp. | ||
| RB Series 2013E | ||
| 5.18%, 10/01/42 | 200,000 | 221,936 |
| Series B | ||
| 3.24%, 10/01/52 (a) | 300,000 | 241,227 |
| Illinois | ||
| 4.95%, 06/01/23 | 150,000 | 151,140 |
| GO (Build America Bonds) Series 2010 | ||
| 6.63%, 02/01/35 | 150,000 | 159,617 |
| GO (Build America Bonds) Series 2010 | ||
| 6.73%, 04/01/35 | 125,000 | 133,333 |
| GO Bonds (Pension Funding) Series 2003 | ||
| 5.10%, 06/01/33 | 2,745,000 | 2,759,406 |
| JobsOhio Beverage System | ||
| RB (Build America Bonds) Series B | ||
| 3.99%, 01/01/29 | 100,000 | 101,327 |
| Series B | ||
| 4.53%, 01/01/35 | 200,000 | 205,900 |
| Los Angeles Community College District | ||
| GO (Build America Bonds) Series 2010 | ||
| 6.75%, 08/01/49 | 85,000 | 117,532 |
| GO Bonds Series 2020 | ||
| 1.61%, 08/01/28 | 125,000 | 112,588 |
| GO Bonds Series 2020 | ||
| 1.81%, 08/01/30 | 200,000 | 171,034 |
| GO Bonds Series 2020 | ||
| 2.11%, 08/01/32 (a) | 350,000 | 296,297 |
| Los Angeles Department of Water & Power Power System Revenue | ||
| RB (Build America Bonds) Series 2010 | ||
| 6.57%, 07/01/45 | 250,000 | 324,261 |
| Los Angeles Unified School District | ||
| GO (Build America Bonds) Series 2009 | ||
| 5.76%, 07/01/29 | 300,000 | 324,546 |
| GO (Build America Bonds) Series 2009 | ||
| 5.75%, 07/01/34 | 225,000 | 250,891 |
| GO (Build America Bonds) Series 2010 | ||
| 6.76%, 07/01/34 | 450,000 | 535,836 |
| Maryland Health & Higher Educational Facilities Authority | ||
| RB Series D | ||
| 3.05%, 07/01/40 (a) | 100,000 | 79,403 |
| RB Series D | ||
| 3.20%, 07/01/50 | 100,000 | 75,712 |
| Massachusetts School Building Authority | ||
| RB Series B | ||
| 1.75%, 08/15/30 | 500,000 | 429,961 |
98
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| RB Series B | ||
| 3.40%, 10/15/40 (a) | 100,000 | 84,718 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | ||
| RB (Vanderbilt Univ Medical Center) Series 2016 B | ||
| 4.05%, 07/01/26 (a) | 400,000 | 404,218 |
| Metropolitan Transportation Authority | ||
| RB (Build America Bonds) Series C | ||
| 7.34%, 11/15/39 | 350,000 | 472,219 |
| RB (Build America Bonds) Series E | ||
| 6.81%, 11/15/40 | 650,000 | 789,815 |
| Metropolitan Water Reclamation District of Greater Chicago | ||
| 5.72%, 12/01/38 | 250,000 | 289,689 |
| Michigan Finance Authority | ||
| RB Series 2019 | ||
| 3.38%, 12/01/40 | 350,000 | 302,797 |
| Michigan State Building Authority | ||
| RB Series 2020 | ||
| 2.71%, 10/15/40 (a) | 250,000 | 189,814 |
| Missouri Health & Educational Facilities Authority | ||
| RB Series 2017A | ||
| 3.65%, 08/15/57 (a) | 75,000 | 67,338 |
| Municipal Electric Authority of Georgia | ||
| RB (Build America Bonds) Series 2010 | ||
| 6.66%, 04/01/57 | 147,000 | 174,420 |
| RB (Build America Bonds) Series A | ||
| 6.64%, 04/01/57 | 240,000 | 282,850 |
| New Jersey Economic Development Authority | ||
| Series A | ||
| 7.43%, 02/15/29 | 516,000 | 581,916 |
| New Jersey Transportation Trust Fund Authority | ||
| RB (Build America Bonds) Series 2010C | ||
| 5.75%, 12/15/28 | 650,000 | 682,345 |
| RB (Build America Bonds) Series B | ||
| 6.56%, 12/15/40 | 50,000 | 58,161 |
| RB Series 2019B | ||
| 4.13%, 06/15/42 | 250,000 | 223,673 |
| New Jersey Turnpike Authority | ||
| RB (Build America Bonds) Series 2009F | ||
| 7.41%, 01/01/40 | 500,000 | 664,504 |
| RB (Build America Bonds) Series 2010A | ||
| 7.10%, 01/01/41 | 850,000 | 1,099,903 |
| New York City Transitional Finance Authority | ||
| RB (Build America Bonds) Series 2011A1 | ||
| 5.51%, 08/01/37 | 450,000 | 496,087 |
| New York City Water & Sewer System | ||
| Water System RB (Build America Bonds) | ||
| 6.01%, 06/15/42 | 250,000 | 297,857 |
| Water System RB (Build America Bonds) Series 2009 | ||
| 5.75%, 06/15/41 | 300,000 | 349,484 |
| Water System RB (Build America Bonds) Series 2011CC | ||
| 5.88%, 06/15/44 | 250,000 | 301,798 |
| New York State Dormitory Authority | ||
| RB (Build America Bonds) Series 2010 | ||
| 5.60%, 03/15/40 | 200,000 | 223,154 |
| RB Series 2009F | ||
| 5.63%, 03/15/39 | 200,000 | 218,574 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Series B | ||
| 3.14%, 07/01/43 | 200,000 | 167,954 |
| Series F | ||
| 3.11%, 02/15/39 | 200,000 | 172,000 |
| New York State Thruway Authority | ||
| Series M | ||
| 2.90%, 01/01/35 | 150,000 | 129,933 |
| New York State Urban Development Corp. | ||
| RB (Build America Bonds) Series 2009 | ||
| 5.77%, 03/15/39 | 185,000 | 201,524 |
| North Texas Tollway Authority | ||
| RB (Build America Bonds) Series 2009B | ||
| 6.72%, 01/01/49 | 350,000 | 455,843 |
| Ohio State University | ||
| RB (Build America Bonds) Series 2010C | ||
| 4.91%, 06/01/40 | 650,000 | 704,443 |
| Series A | ||
| 3.80%, 12/01/46 | 75,000 | 69,654 |
| Ohio Turnpike & Infrastructure Commission | ||
| RB Series A | ||
| 3.22%, 02/15/48 (a) | 100,000 | 78,026 |
| Oregon | ||
| GO Bonds (Pension Funding) Series 2003 | ||
| 5.89%, 06/01/27 | 500,000 | 534,534 |
| Oregon School Boards Association | ||
| Series B | ||
| 5.55%, 06/30/28 | 500,000 | 527,239 |
| Port Authority of New York & New Jersey | ||
| Consolidated Bonds 164th Series | ||
| 5.65%, 11/01/40 | 240,000 | 270,674 |
| Consolidated Bonds 165th Series | ||
| 5.65%, 11/01/40 | 200,000 | 225,987 |
| Consolidated Bonds 168th Series | ||
| 4.93%, 10/01/51 | 650,000 | 690,570 |
| Consolidated Bonds 174th Series | ||
| 4.46%, 10/01/62 | 1,150,000 | 1,121,026 |
| Consolidated Bonds 181st Series | ||
| 4.96%, 08/01/46 | 200,000 | 211,560 |
| RB Series AAA | ||
| 1.09%, 07/01/23 | 300,000 | 294,455 |
| Regents of the University of California Medical Center Pooled Revenue | ||
| 6.55%, 05/15/48 | 100,000 | 123,755 |
| 6.58%, 05/15/49 | 200,000 | 249,093 |
| Series N | ||
| 3.01%, 05/15/50 (a) | 200,000 | 151,032 |
| Regional Transportation District Sales Tax Revenue | ||
| Series B | ||
| 5.84%, 11/01/50 | 200,000 | 238,544 |
| Rutgers The State University of New Jersey | ||
| Series P | ||
| 3.92%, 05/01/19 (a) | 150,000 | 114,044 |
| Series R | ||
| 3.27%, 05/01/43 | 100,000 | 84,219 |
| Sales Tax Securitization Corp. | ||
| RB Series 2017B | ||
| 3.59%, 01/01/43 | 200,000 | 176,491 |
| RB Series B | ||
| 3.82%, 01/01/48 | 250,000 | 215,447 |
| Salt River Project Agricultural Improvement & Power District | ||
| RB (Build America Bonds) Series 2010 | ||
| 4.84%, 01/01/41 | 75,000 | 79,456 |
99
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| San Diego County Regional Transportation Commission | ||
| RB (Build America Bonds) Series 2010A | ||
| 5.91%, 04/01/48 | 300,000 | 371,765 |
| San Diego County Water Authority | ||
| RB (Build America Bonds) Series 2010B | ||
| 6.14%, 05/01/49 | 350,000 | 433,000 |
| San Jose Redevelopment Agency Successor Agency | ||
| Series A | ||
| 3.38%, 08/01/34 (a) | 750,000 | 681,392 |
| Santa Clara Valley Transportation Authority | ||
| RB (Build America Bonds) Series 2010 | ||
| 5.88%, 04/01/32 | 150,000 | 163,266 |
| State of California | ||
| 2.38%, 10/01/26 | 175,000 | 168,115 |
| 7.63%, 03/01/40 | 100,000 | 135,143 |
| GO Bonds | ||
| 7.60%, 11/01/40 | 300,000 | 416,149 |
| State of Illinois | ||
| GO (Build America Bonds) Series 2010 | ||
| 7.35%, 07/01/35 | 150,000 | 164,783 |
| State of Oregon Department of Transportation | ||
| RB (Build America Bonds) Series 2010A | ||
| 5.83%, 11/15/34 | 125,000 | 141,682 |
| Texas | ||
| GO (Build America Bonds) Series 2010A | ||
| 4.68%, 04/01/40 | 500,000 | 527,646 |
| GO Mobility Fund Bonds (Build America Bonds) Series 2009A | ||
| 5.52%, 04/01/39 | 750,000 | 856,669 |
| Texas Private Activity Bond Surface Transportation Corp. | ||
| RB Series B | ||
| 3.92%, 12/31/49 | 350,000 | 307,634 |
| Texas Transportation Commission | ||
| GO Bonds Series 2020 | ||
| 2.47%, 10/01/44 (a) | 350,000 | 262,495 |
| RB (Build America Bonds) Series B | ||
| 5.18%, 04/01/30 | 130,000 | 138,399 |
| University of California | ||
| RB (Build America Bonds) Series 2009 | ||
| 5.77%, 05/15/43 | 300,000 | 346,082 |
| RB Series 2013AJ | ||
| 4.60%, 05/15/31 | 250,000 | 256,509 |
| RB Series 2015AQ | ||
| 4.77%, 05/15/15 | 300,000 | 278,133 |
| RB Series AD | ||
| 4.86%, 05/15/12 | 400,000 | 377,887 |
| RB Series AS | ||
| 5.95%, 05/15/45 | 250,000 | 287,659 |
| RB Series BG | ||
| 1.61%, 05/15/30 (a) | 250,000 | 209,179 |
| RB Series BJ | ||
| 3.07%, 05/15/51 (a) | 250,000 | 182,163 |
| University of Michigan | ||
| Series B | ||
| 2.44%, 04/01/40 (a) | 250,000 | 197,413 |
| University of Pittsburgh-of the Commonwealth System of Higher Education | ||
| RB Series 2019A | ||
| 3.56%, 09/15/19 (a) | 250,000 | 180,174 |
| University of Texas System | ||
| RB (Build America Bonds) Series C | ||
| 4.79%, 08/15/46 | 50,000 | 53,893 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| University of Virginia | ||
| General Revenue Pledge and Refunding Bonds, Series 2020 | ||
| 2.26%, 09/01/50 (a) | 400,000 | 271,732 |
| Series B | ||
| 2.58%, 11/01/51 (a) | 300,000 | 217,701 |
| Series C | ||
| 4.18%, 09/01/17 (a) | 150,000 | 128,610 |
| Utah | ||
| GO (Build America Bonds) Series B | ||
| 3.54%, 07/01/25 | 525,000 | 525,439 |
| GO (Build America Bonds) Series D | ||
| 4.55%, 07/01/24 | 205,000 | 208,365 |
| Westchester County Local Development Corp. | ||
| RB Series 2020 | ||
| 3.85%, 11/01/50 (a) | 250,000 | 201,708 |
| Wisconsin | ||
| RB Series A | ||
| 5.70%, 05/01/26 | 525,000 | 554,981 |
| 49,470,000 | ||
| 69,315,801 | ||
| Sovereign 1.0% | ||
| Canada 0.0% | ||
| Canada Government International Bond | ||
| 1.63%, 01/22/25 | 1,050,000 | 1,013,901 |
| 0.75%, 05/19/26 | 250,000 | 228,293 |
| 1,242,194 | ||
| Chile 0.1% | ||
| Chile Government International Bond | ||
| 3.13%, 03/27/25 | 200,000 | 195,596 |
| 3.13%, 01/21/26 | 400,000 | 386,860 |
| 2.75%, 01/31/27 (a) | 500,000 | 467,975 |
| 3.24%, 02/06/28 (a) | 750,000 | 707,572 |
| 2.45%, 01/31/31 (a) | 650,000 | 555,770 |
| 2.55%, 01/27/32 (a) | 600,000 | 510,840 |
| 2.55%, 07/27/33 (a) | 500,000 | 409,260 |
| 3.50%, 01/31/34 (a) | 500,000 | 445,415 |
| 3.10%, 05/07/41 (a) | 400,000 | 305,880 |
| 4.34%, 03/07/42 (a) | 250,000 | 223,490 |
| 3.63%, 10/30/42 | 100,000 | 80,542 |
| 3.86%, 06/21/47 | 450,000 | 376,470 |
| 3.50%, 01/25/50 (a) | 850,000 | 656,038 |
| 4.00%, 01/31/52 (a) | 350,000 | 290,875 |
| 3.10%, 01/22/61 (a) | 800,000 | 542,696 |
| 3.25%, 09/21/71 (a) | 350,000 | 234,220 |
| 6,389,499 | ||
| Hungary 0.0% | ||
| Hungary Government International Bond | ||
| 5.75%, 11/22/23 | 550,000 | 561,467 |
| 5.38%, 03/25/24 | 600,000 | 612,516 |
| 7.63%, 03/29/41 | 400,000 | 462,832 |
| 1,636,815 | ||
| Indonesia 0.1% | ||
| Indonesia Government International Bond | ||
| 3.50%, 01/11/28 | 450,000 | 430,150 |
| 4.10%, 04/24/28 | 250,000 | 246,158 |
| 4.75%, 02/11/29 | 400,000 | 404,116 |
| 3.40%, 09/18/29 | 400,000 | 372,120 |
| 2.85%, 02/14/30 | 400,000 | 356,888 |
100
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.85%, 10/15/30 | 550,000 | 523,446 |
| 1.85%, 03/12/31 (e) | 400,000 | 324,504 |
| 3.55%, 03/31/32 (a) | 350,000 | 318,118 |
| 4.35%, 01/11/48 | 700,000 | 611,569 |
| 5.35%, 02/11/49 | 300,000 | 295,464 |
| 3.70%, 10/30/49 | 200,000 | 161,170 |
| 3.50%, 02/14/50 | 650,000 | 514,332 |
| 4.20%, 10/15/50 | 750,000 | 646,020 |
| 3.05%, 03/12/51 | 350,000 | 266,823 |
| 4.45%, 04/15/70 | 450,000 | 385,137 |
| 3.35%, 03/12/71 | 200,000 | 141,308 |
| 5,997,323 | ||
| Israel 0.1% | ||
| Israel Government International Bond | ||
| 2.88%, 03/16/26 | 300,000 | 292,371 |
| 3.25%, 01/17/28 | 300,000 | 293,241 |
| 2.50%, 01/15/30 | 500,000 | 459,350 |
| 2.75%, 07/03/30 | 500,000 | 465,430 |
| 4.50%, 01/30/43 | 700,000 | 692,160 |
| 4.13%, 01/17/48 | 250,000 | 231,330 |
| 3.38%, 01/15/50 | 600,000 | 487,728 |
| 3.88%, 07/03/50 | 650,000 | 573,118 |
| 4.50%, 04/03/20 | 300,000 | 273,018 |
| 3,767,746 | ||
| Italy 0.1% | ||
| Italy Government International Bond | ||
| 6.88%, 09/27/23 | 1,300,000 | 1,351,987 |
| 2.38%, 10/17/24 | 1,400,000 | 1,356,572 |
| 2.88%, 10/17/29 | 700,000 | 619,213 |
| 5.38%, 06/15/33 | 604,000 | 635,354 |
| 4.00%, 10/17/49 | 800,000 | 668,192 |
| Republic of Italy Government International Bond | ||
| 1.25%, 02/17/26 | 800,000 | 715,376 |
| 3.88%, 05/06/51 | 800,000 | 646,312 |
| 5,993,006 | ||
| Mexico 0.2% | ||
| Mexico Government International Bond | ||
| 3.60%, 01/30/25 | 650,000 | 646,548 |
| 3.90%, 04/27/25 (a) | 200,000 | 200,038 |
| 4.13%, 01/21/26 | 700,000 | 700,742 |
| 4.15%, 03/28/27 | 800,000 | 789,416 |
| 3.75%, 01/11/28 | 650,000 | 622,876 |
| 4.50%, 04/22/29 | 1,050,000 | 1,021,597 |
| 3.25%, 04/16/30 (a)(e) | 1,000,000 | 880,970 |
| 2.66%, 05/24/31 (a) | 1,050,000 | 864,559 |
| 8.30%, 08/15/31 | 350,000 | 437,371 |
| 4.75%, 04/27/32 (a)(e) | 850,000 | 816,229 |
| 7.50%, 04/08/33 | 250,000 | 299,160 |
| 6.75%, 09/27/34 | 650,000 | 714,181 |
| 6.05%, 01/11/40 | 1,050,000 | 1,031,310 |
| 4.28%, 08/14/41 (a) | 750,000 | 593,663 |
| 4.75%, 03/08/44 | 1,200,000 | 996,156 |
| 5.55%, 01/21/45 | 1,000,000 | 918,270 |
| 4.60%, 01/23/46 | 800,000 | 639,256 |
| 4.35%, 01/15/47 | 450,000 | 343,796 |
| 4.60%, 02/10/48 | 800,000 | 634,304 |
| 4.50%, 01/31/50 (a) | 925,000 | 720,566 |
| 5.00%, 04/27/51 (a) | 850,000 | 704,480 |
| 3.77%, 05/24/61 (a) | 1,050,000 | 681,523 |
| 5.75%, 10/12/10 | 950,000 | 797,126 |
| 16,054,137 | ||
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Panama 0.1% | ||
| Panama Government International Bond | ||
| 4.00%, 09/22/24 (a) | 450,000 | 450,068 |
| 3.75%, 03/16/25 (a) | 600,000 | 593,796 |
| 7.13%, 01/29/26 | 350,000 | 379,897 |
| 8.88%, 09/30/27 | 200,000 | 235,886 |
| 3.88%, 03/17/28 (a) | 400,000 | 382,144 |
| 9.38%, 04/01/29 | 300,000 | 367,191 |
| 3.16%, 01/23/30 (a) | 600,000 | 534,516 |
| 2.25%, 09/29/32 (a) | 750,000 | 587,250 |
| 6.70%, 01/26/36 | 750,000 | 812,055 |
| 4.50%, 05/15/47 | 500,000 | 413,865 |
| 4.50%, 04/16/50 (a) | 950,000 | 778,458 |
| 4.30%, 04/29/53 | 600,000 | 474,150 |
| 4.50%, 04/01/56 (a) | 800,000 | 640,472 |
| 3.87%, 07/23/60 (a) | 525,000 | 375,044 |
| 4.50%, 01/19/63 (a) | 250,000 | 194,293 |
| 7,219,085 | ||
| Peru 0.1% | ||
| Peruvian Government International Bond | ||
| 7.35%, 07/21/25 | 500,000 | 541,240 |
| 2.39%, 01/23/26 (a) | 150,000 | 139,635 |
| 4.13%, 08/25/27 | 500,000 | 490,655 |
| 2.84%, 06/20/30 | 650,000 | 567,651 |
| 2.78%, 01/23/31 (a) | 1,250,000 | 1,065,562 |
| 1.86%, 12/01/32 (a) | 425,000 | 324,233 |
| 8.75%, 11/21/33 | 450,000 | 571,405 |
| 3.00%, 01/15/34 (a) | 500,000 | 411,360 |
| 6.55%, 03/14/37 | 350,000 | 382,585 |
| 3.30%, 03/11/41 (a) | 450,000 | 339,903 |
| 5.63%, 11/18/50 | 900,000 | 936,135 |
| 3.55%, 03/10/51 (a) | 400,000 | 299,568 |
| 2.78%, 12/01/60 (a) | 650,000 | 403,260 |
| 3.60%, 01/15/72 (a) | 350,000 | 237,045 |
| 3.23%, 07/28/21 (a) | 250,000 | 154,310 |
| 6,864,547 | ||
| Philippines 0.1% | ||
| Philippine Government International Bond | ||
| 4.20%, 01/21/24 | 550,000 | 555,841 |
| 9.50%, 10/21/24 | 100,000 | 112,899 |
| 10.63%, 03/16/25 | 300,000 | 353,478 |
| 5.50%, 03/30/26 | 400,000 | 419,036 |
| 3.00%, 02/01/28 | 850,000 | 810,373 |
| 3.75%, 01/14/29 | 600,000 | 584,076 |
| 9.50%, 02/02/30 | 725,000 | 937,867 |
| 2.46%, 05/05/30 | 350,000 | 305,932 |
| 7.75%, 01/14/31 | 550,000 | 664,488 |
| 1.65%, 06/10/31 | 400,000 | 321,664 |
| 6.38%, 01/15/32 | 350,000 | 391,377 |
| 6.38%, 10/23/34 | 700,000 | 786,604 |
| 5.00%, 01/13/37 | 500,000 | 499,555 |
| 3.95%, 01/20/40 | 925,000 | 805,379 |
| 3.70%, 03/01/41 | 500,000 | 414,350 |
| 3.70%, 02/02/42 | 900,000 | 745,029 |
| 2.95%, 05/05/45 | 600,000 | 430,560 |
| 2.65%, 12/10/45 | 700,000 | 482,006 |
| 4.20%, 03/29/47 | 100,000 | 87,239 |
| 9,707,753 | ||
101
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Poland 0.0% | ||
| Poland Government International Bond | ||
| 4.00%, 01/22/24 | 700,000 | 700,980 |
| 3.25%, 04/06/26 | 644,000 | 626,419 |
| 1,327,399 | ||
| Republic of Korea 0.0% | ||
| Korea International Bond | ||
| 3.88%, 09/11/23 | 300,000 | 302,835 |
| 2.75%, 01/19/27 | 450,000 | 438,534 |
| 3.50%, 09/20/28 | 200,000 | 200,326 |
| 2.50%, 06/19/29 | 350,000 | 331,723 |
| 1.00%, 09/16/30 | 200,000 | 166,776 |
| 1.75%, 10/15/31 | 200,000 | 175,104 |
| 4.13%, 06/10/44 | 400,000 | 419,100 |
| 3.88%, 09/20/48 | 200,000 | 202,108 |
| 2,236,506 | ||
| Uruguay 0.1% | ||
| Uruguay Government International Bond | ||
| 4.50%, 08/14/24 | 400,000 | 404,612 |
| 4.38%, 10/27/27 | 550,000 | 558,354 |
| 4.38%, 01/23/31 (a) | 700,000 | 710,080 |
| 7.63%, 03/21/36 | 300,000 | 376,086 |
| 4.13%, 11/20/45 | 250,000 | 229,853 |
| 5.10%, 06/18/50 | 1,200,000 | 1,204,836 |
| 4.98%, 04/20/55 | 800,000 | 788,464 |
| 4,272,285 | ||
| 72,708,295 | ||
| Supranational* 1.4% | ||
| African Development Bank | ||
| 2.13%, 11/16/22 | 750,000 | 749,302 |
| 0.75%, 04/03/23 | 450,000 | 442,940 |
| 3.00%, 09/20/23 | 450,000 | 449,901 |
| 0.88%, 07/22/26 | 800,000 | 730,176 |
| Asian Development Bank | ||
| 1.75%, 09/13/22 | 925,000 | 924,556 |
| 1.63%, 01/24/23 | 400,000 | 397,600 |
| 0.25%, 07/14/23 | 750,000 | 730,350 |
| 0.25%, 10/06/23 | 750,000 | 725,257 |
| 2.63%, 01/30/24 | 695,000 | 690,684 |
| 0.38%, 06/11/24 | 1,150,000 | 1,092,316 |
| 1.50%, 10/18/24 | 1,625,000 | 1,569,474 |
| 2.00%, 01/22/25 | 1,650,000 | 1,606,638 |
| 0.63%, 04/29/25 | 1,050,000 | 980,395 |
| 0.38%, 09/03/25 | 750,000 | 688,410 |
| 0.50%, 02/04/26 | 1,050,000 | 956,434 |
| 1.00%, 04/14/26 | 500,000 | 461,900 |
| 2.00%, 04/24/26 | 500,000 | 479,180 |
| 2.63%, 01/12/27 | 1,000,000 | 978,440 |
| 1.50%, 01/20/27 | 1,000,000 | 930,720 |
| 2.50%, 11/02/27 | 1,188,000 | 1,149,390 |
| 2.75%, 01/19/28 | 250,000 | 244,435 |
| 1.25%, 06/09/28 | 250,000 | 223,750 |
| 5.82%, 06/16/28 | 300,000 | 341,298 |
| 1.88%, 03/15/29 | 500,000 | 460,705 |
| 1.75%, 09/19/29 | 1,150,000 | 1,043,740 |
| 1.88%, 01/24/30 | 1,000,000 | 911,760 |
| 0.75%, 10/08/30 | 1,150,000 | 950,302 |
| 1.50%, 03/04/31 | 500,000 | 436,785 |
| Asian Infrastructure Investment Bank | ||
| 0.25%, 09/29/23 | 600,000 | 579,642 |
| 2.25%, 05/16/24 | 950,000 | 934,116 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.50%, 10/30/24 | 750,000 | 705,990 |
| 0.50%, 05/28/25 | 950,000 | 877,847 |
| 0.50%, 01/27/26 | 1,225,000 | 1,110,168 |
| Corp. Andina de Fomento | ||
| 2.38%, 05/12/23 | 400,000 | 396,656 |
| 3.75%, 11/23/23 | 250,000 | 251,320 |
| 1.63%, 09/23/25 | 500,000 | 469,025 |
| Council of Europe Development Bank | ||
| 0.25%, 06/10/23 | 200,000 | 195,018 |
| 0.25%, 10/20/23 | 400,000 | 385,908 |
| 2.50%, 02/27/24 | 315,000 | 312,338 |
| 1.38%, 02/27/25 | 350,000 | 334,894 |
| 0.88%, 09/22/26 | 300,000 | 273,342 |
| Essential Utilities, Inc. | ||
| 1.48%, 10/06/26 (c) | 125,000 | 113,480 |
| European Bank for Reconstruction & Development | ||
| 0.25%, 07/10/23 | 500,000 | 487,135 |
| 1.63%, 09/27/24 | 300,000 | 290,949 |
| 1.50%, 02/13/25 | 500,000 | 480,205 |
| 0.50%, 05/19/25 | 750,000 | 696,435 |
| 0.50%, 11/25/25 | 950,000 | 869,126 |
| 0.50%, 01/28/26 | 850,000 | 773,678 |
| European Investment Bank | ||
| 2.50%, 03/15/23 | 300,000 | 299,298 |
| 1.38%, 05/15/23 | 1,000,000 | 987,370 |
| 2.88%, 08/15/23 | 1,400,000 | 1,398,656 |
| 0.25%, 09/15/23 | 1,250,000 | 1,210,175 |
| 3.13%, 12/14/23 | 1,050,000 | 1,051,449 |
| 3.25%, 01/29/24 | 1,650,000 | 1,655,412 |
| 2.63%, 03/15/24 | 1,600,000 | 1,589,008 |
| 2.25%, 06/24/24 | 450,000 | 443,025 |
| 2.50%, 10/15/24 | 500,000 | 493,925 |
| 1.88%, 02/10/25 | 1,100,000 | 1,067,462 |
| 1.63%, 03/14/25 | 1,300,000 | 1,251,679 |
| 0.63%, 07/25/25 | 900,000 | 835,488 |
| 0.38%, 03/26/26 | 1,450,000 | 1,309,118 |
| 2.13%, 04/13/26 | 800,000 | 771,856 |
| 0.75%, 10/26/26 | 500,000 | 452,240 |
| 1.38%, 03/15/27 | 1,000,000 | 923,170 |
| 2.38%, 05/24/27 | 617,000 | 596,041 |
| 1.75%, 03/15/29 | 750,000 | 686,422 |
| 1.63%, 10/09/29 | 500,000 | 450,960 |
| 0.88%, 05/17/30 | 255,000 | 214,430 |
| 0.75%, 09/23/30 | 500,000 | 415,290 |
| 1.25%, 02/14/31 (e) | 1,400,000 | 1,201,186 |
| 1.63%, 05/13/31 | 500,000 | 443,375 |
| 4.88%, 02/15/36 | 750,000 | 874,200 |
| Inter-American Development Bank | ||
| 0.50%, 05/24/23 | 300,000 | 293,709 |
| 3.00%, 10/04/23 | 850,000 | 849,847 |
| 0.25%, 11/15/23 | 750,000 | 722,497 |
| 2.63%, 01/16/24 | 1,150,000 | 1,142,881 |
| 3.00%, 02/21/24 | 750,000 | 749,377 |
| 0.50%, 09/23/24 | 250,000 | 236,348 |
| 2.13%, 01/15/25 | 1,400,000 | 1,367,800 |
| 1.75%, 03/14/25 | 1,350,000 | 1,303,600 |
| 0.88%, 04/03/25 | 650,000 | 612,320 |
| 0.63%, 07/15/25 | 600,000 | 556,992 |
| 0.88%, 04/20/26 | 1,250,000 | 1,148,137 |
| 2.00%, 06/02/26 | 550,000 | 526,526 |
| 2.00%, 07/23/26 | 500,000 | 478,130 |
| 2.38%, 07/07/27 | 1,200,000 | 1,156,392 |
| 0.63%, 09/16/27 | 750,000 | 659,048 |
| 1.13%, 07/20/28 | 750,000 | 665,408 |
| 3.13%, 09/18/28 | 1,700,000 | 1,693,676 |
| 2.25%, 06/18/29 | 1,400,000 | 1,317,050 |
102
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.13%, 01/13/31 | 550,000 | 466,582 |
| 3.88%, 10/28/41 | 150,000 | 153,401 |
| 3.20%, 08/07/42 | 200,000 | 185,416 |
| 4.38%, 01/24/44 | 450,000 | 497,781 |
| International Bank for Reconstruction & Development | ||
| 1.88%, 10/07/22 | 250,000 | 249,768 |
| 3.00%, 09/27/23 | 1,560,000 | 1,559,922 |
| 2.50%, 03/19/24 | 1,450,000 | 1,436,892 |
| 1.50%, 08/28/24 | 1,700,000 | 1,646,263 |
| 2.50%, 11/25/24 | 1,400,000 | 1,382,374 |
| 1.63%, 01/15/25 | 1,450,000 | 1,399,859 |
| 0.75%, 03/11/25 | 1,650,000 | 1,551,742 |
| 0.63%, 04/22/25 | 2,700,000 | 2,523,042 |
| 0.38%, 07/28/25 | 150,000 | 138,078 |
| 2.50%, 07/29/25 | 1,850,000 | 1,816,071 |
| 0.50%, 10/28/25 | 2,000,000 | 1,835,500 |
| 3.13%, 11/20/25 | 450,000 | 450,086 |
| 0.88%, 07/15/26 | 750,000 | 686,257 |
| 1.88%, 10/27/26 | 250,000 | 237,410 |
| 2.50%, 11/22/27 | 200,000 | 193,452 |
| 0.75%, 11/24/27 | 1,850,000 | 1,630,072 |
| 1.38%, 04/20/28 | 1,500,000 | 1,356,270 |
| 1.13%, 09/13/28 | 1,000,000 | 884,610 |
| 1.75%, 10/23/29 | 950,000 | 862,077 |
| 0.88%, 05/14/30 | 2,300,000 | 1,933,104 |
| 0.75%, 08/26/30 | 1,200,000 | 993,708 |
| 1.25%, 02/10/31 | 1,000,000 | 856,080 |
| 1.63%, 11/03/31 | 750,000 | 656,078 |
| 2.50%, 03/29/32 | 1,000,000 | 942,680 |
| 4.75%, 02/15/35 | 450,000 | 511,223 |
| International Finance Corp. | ||
| 2.00%, 10/24/22 | 350,000 | 349,640 |
| 2.88%, 07/31/23 | 500,000 | 499,480 |
| 1.38%, 10/16/24 | 750,000 | 723,045 |
| 0.38%, 07/16/25 | 500,000 | 460,825 |
| 0.75%, 08/27/30 | 750,000 | 621,818 |
| Nordic Investment Bank | ||
| 1.38%, 10/17/22 | 200,000 | 199,550 |
| 0.38%, 05/19/23 | 400,000 | 391,204 |
| 2.88%, 07/19/23 | 450,000 | 450,014 |
| 2.25%, 05/21/24 | 200,000 | 196,988 |
| 2.63%, 04/04/25 | 400,000 | 395,392 |
| 0.38%, 09/11/25 | 400,000 | 367,036 |
| 0.50%, 01/21/26 | 250,000 | 227,933 |
| 101,903,806 | ||
| Total Government Related (Cost $431,520,608) | 397,984,436 | |
| SECURITIZED 30.1% OF NET ASSETS | ||
| Asset-Backed Securities 0.2% | ||
| Automobile 0.0% | ||
| Ally Auto Receivables Trust 2019-4 | ||
| Series 2019-4, Class A4 | ||
| 1.92%, 01/15/25 (a) | 2,000,000 | 1,977,785 |
| Toyota Auto Receivables Owner Trust | ||
| Series 2018-C, Class A4 | ||
| 3.13%, 02/15/24 (a) | 962,353 | 963,169 |
| 2,940,954 | ||
| Credit Card 0.2% | ||
| American Express Credit Account Master Trust | ||
| Series 2019-3, Class A | ||
| 2.00%, 04/15/25 (a) | 630,000 | 629,379 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Series 2018-2, Class A | ||
| 3.01%, 10/15/25 (a) | 5,200,000 | 5,190,989 |
| Capital One Multi-Asset Execution Trust | ||
| Series 2017-A6, Class A6 | ||
| 2.29%, 07/15/25 (a) | 1,300,000 | 1,299,658 |
| Series 2019-A3, Class A3 | ||
| 2.06%, 08/15/28 (a) | 2,000,000 | 1,891,659 |
| Citibank Credit Card Issuance Trust | ||
| Series 2018-A6, Class A6 | ||
| 3.21%, 12/07/24 (a) | 4,800,000 | 4,808,262 |
| Discover Card Execution Note Trust | ||
| Series 2018-A1, Class A1 | ||
| 3.03%, 08/15/25 (a) | 2,100,000 | 2,098,277 |
| 15,918,224 | ||
| 18,859,178 | ||
| Commercial Mortgage-Backed Security 2.1% | ||
| BANK | ||
| Series 2017-BNK7, Class A5 | ||
| 3.44%, 09/15/60 (a) | 1,000,000 | 964,305 |
| Series 2017-BNK8, Class A4 | ||
| 3.49%, 11/15/50 (a) | 600,000 | 583,312 |
| Series 2017-BNK9, Class A4 | ||
| 3.54%, 11/15/54 (a) | 1,000,000 | 967,633 |
| Series 2019-BN19, Class A3 | ||
| 3.18%, 08/15/61 (a) | 800,000 | 746,964 |
| Series 2020-BN26, Class A4 | ||
| 2.40%, 03/15/63 (a) | 700,000 | 615,358 |
| BBCMS Mortgage Trust 2018-C2 | ||
| Series 2018-C2, Class A4 | ||
| 4.05%, 12/15/51 (a) | 1,150,000 | 1,132,205 |
| BBCMS Mortgage Trust 2022-C15 | ||
| Series 2022-C15, Class A5 | ||
| 3.66%, 04/15/55 (a) | 3,145,000 | 2,979,648 |
| Benchmark 2019-B12 Mortgage Trust | ||
| Series 2019-B12, Class A5 | ||
| 3.12%, 08/15/52 (a) | 1,875,000 | 1,740,303 |
| Benchmark 2019-B13 Mortgage Trust | ||
| Series 2019-B13, Class A4 | ||
| 2.95%, 08/15/57 (a) | 2,600,000 | 2,388,919 |
| Benchmark 2019-B9 Mortgage Trust | ||
| Series 2019-B9, Class A5 | ||
| 4.02%, 03/15/52 (a) | 2,600,000 | 2,556,475 |
| Benchmark 2020-B16 Mortgage Trust | ||
| Series 2020-B16, Class A5 | ||
| 2.73%, 02/15/53 (a) | 1,073,000 | 966,240 |
| Benchmark 2020-B18 Mortgage Trust | ||
| Series 2020-B18, Class A5 | ||
| 1.93%, 07/15/53 (a) | 1,845,000 | 1,559,973 |
| CCUBS Commercial Mortgage Trust | ||
| Series 2017-C1, Class A4 | ||
| 3.54%, 11/15/50 (a) | 1,747,000 | 1,689,640 |
| CD Mortgage Trust | ||
| Series 2017-CD3, Class A4 | ||
| 3.63%, 02/10/50 (a) | 1,715,000 | 1,671,908 |
| CFCRE Commercial Mortgage Trust | ||
| Series 2016-C3, Class A3 | ||
| 3.87%, 01/10/48 (a) | 5,325,000 | 5,254,012 |
| Series 2016-C4, Class A4 | ||
| 3.28%, 05/10/58 (a) | 1,000,000 | 966,010 |
| Series 2016-C7, Class A3 | ||
| 3.84%, 12/10/54 (a) | 3,625,000 | 3,559,138 |
103
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Citigroup Commercial Mortgage Trust | ||
| Series 2013-GC17, Class A4 | ||
| 4.13%, 11/10/46 (a) | 615,000 | 614,976 |
| Series 2014-GC23, Class A4 | ||
| 3.62%, 07/10/47 (a) | 1,000,000 | 989,403 |
| Series 2014-GC25, Class A4 | ||
| 3.64%, 10/10/47 (a) | 210,000 | 206,400 |
| Series 2016-GC36, Class A5 | ||
| 3.62%, 02/10/49 (a) | 3,350,000 | 3,276,244 |
| Series 2016-GC37, Class A4 | ||
| 3.31%, 04/10/49 (a) | 600,000 | 581,076 |
| Series 2017-C4, Class A4 | ||
| 3.47%, 10/12/50 (a) | 5,600,000 | 5,373,271 |
| Series 2017-P7, Class A4 | ||
| 3.71%, 04/14/50 (a) | 500,000 | 488,507 |
| COMM Mortgage Trust | ||
| Series 2012-CR3, Class A3 | ||
| 2.82%, 10/15/45 (a) | 134,623 | 134,289 |
| Series 2013-CR11, Class A3 | ||
| 3.98%, 08/10/50 (a) | 449,864 | 448,974 |
| Series 2013-CR11, Class A4 | ||
| 4.26%, 08/10/50 (a) | 340,000 | 340,734 |
| Series 2014-CR14, Class A3 | ||
| 3.96%, 02/10/47 (a) | 240,000 | 239,315 |
| Series 2014-CR16, Class ASB | ||
| 3.65%, 04/10/47 (a) | 186,190 | 185,730 |
| Series 2014-CR18, Class A4 | ||
| 3.55%, 07/15/47 (a) | 415,134 | 409,101 |
| Series 2014-CR19, Class ASB | ||
| 3.50%, 08/10/47 (a) | 176,653 | 175,978 |
| Series 2014-CR20, Class A3 | ||
| 3.33%, 11/10/47 (a) | 1,855,386 | 1,820,136 |
| Series 2014-CR21, Class A3 | ||
| 3.53%, 12/10/47 (a) | 173,592 | 170,903 |
| Series 2014-LC15, Class A4 | ||
| 4.01%, 04/10/47 (a) | 400,000 | 398,109 |
| Series 2014-UBS4, Class A5 | ||
| 3.69%, 08/10/47 (a) | 1,850,000 | 1,831,273 |
| Series 2015-CR22, Class A5 | ||
| 3.31%, 03/10/48 (a) | 750,000 | 732,796 |
| Series 2015-CR24, Class A5 | ||
| 3.70%, 08/10/48 (a) | 400,000 | 393,357 |
| Series 2015-LC23, Class A4 | ||
| 3.77%, 10/10/48 (a) | 440,000 | 433,248 |
| Series 2015-PC1, Class A5 | ||
| 3.90%, 07/10/50 (a) | 497,400 | 492,730 |
| Series 2015-PC1, Class ASB | ||
| 3.61%, 07/10/50 (a) | 1,239,164 | 1,231,903 |
| Series 2016-CR28, Class A4 | ||
| 3.76%, 02/10/49 (a) | 2,700,000 | 2,656,470 |
| Series 2016-DC2, Class A5 | ||
| 3.77%, 02/10/49 (a) | 100,000 | 98,343 |
| CSAIL Commercial Mortgage Trust | ||
| Series 2015-C1, Class A4 | ||
| 3.51%, 04/15/50 (a) | 1,308,000 | 1,285,638 |
| Series 2015-C3, Class A4 | ||
| 3.72%, 08/15/48 (a) | 300,000 | 295,231 |
| Series 2019-C17, Class A5 | ||
| 3.02%, 09/15/52 (a) | 2,238,000 | 2,047,434 |
| CSMC Trust | ||
| Series 2016-NXSR, Class A4 | ||
| 3.79%, 12/15/49 (a)(k) | 100,000 | 98,184 |
| Fannie Mae | ||
| Series 2015-M13, Class A2 | ||
| 2.79%, 06/25/25 (a)(k) | 116,558 | 114,210 |
| Series 2015-M3, Class A2 | ||
| 2.72%, 10/25/24 (a) | 460,533 | 452,039 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Series 2015-M4, Class AV2 | ||
| 2.51%, 07/25/22 (a) | 326 | 326 |
| Series 2016-M3, Class ASQ2 | ||
| 2.26%, 02/25/23 (a) | 1,160 | 1,159 |
| Series 2016-M6, Class A2 | ||
| 2.49%, 05/25/26 (a) | 2,580,991 | 2,497,927 |
| Freddie Mac | ||
| Series K042, Class A2 | ||
| 2.67%, 12/25/24 (a) | 100,000 | 98,685 |
| Series K043, Class A2 | ||
| 3.06%, 12/25/24 (a) | 750,000 | 746,391 |
| Series K045, Class A2 | ||
| 3.02%, 01/25/25 (a) | 368,735 | 366,735 |
| Series K046, Class A2 | ||
| 3.21%, 03/25/25 (a) | 920,000 | 915,922 |
| Series K048, Class A2 | ||
| 3.28%, 06/25/25 (a)(k) | 838,000 | 835,910 |
| Series K053, Class A2 | ||
| 3.00%, 12/25/25 (a) | 950,000 | 938,998 |
| Series K054, Class A2 | ||
| 2.75%, 01/25/26 (a) | 300,000 | 294,114 |
| Series K055, Class A2 | ||
| 2.67%, 03/25/26 (a) | 750,000 | 733,062 |
| Series K058, Class A2 | ||
| 2.65%, 08/25/26 (a) | 750,000 | 730,716 |
| Series K061, Class A2 | ||
| 3.35%, 11/25/26 (a)(k) | 520,000 | 519,938 |
| Series K062, Class A2 | ||
| 3.41%, 12/25/26 (a) | 257,767 | 258,350 |
| Series K064, Class A2 | ||
| 3.22%, 03/25/27 (a) | 107,000 | 106,384 |
| Series K070, Class A2 | ||
| 3.30%, 11/25/27 (a)(k) | 308,000 | 307,090 |
| Series K071, Class A2 | ||
| 3.29%, 11/25/27 (a) | 4,768,000 | 4,750,104 |
| Series K072, Class A2 | ||
| 3.44%, 12/25/27 (a) | 1,500,000 | 1,505,192 |
| Series K074, Class A2 | ||
| 3.60%, 01/25/28 (a) | 8,175,000 | 8,264,421 |
| Series K078, Class A2 | ||
| 3.85%, 06/25/28 (a) | 1,183,000 | 1,210,095 |
| Series K083, Class A2 | ||
| 4.05%, 09/25/28 (a)(k) | 2,100,000 | 2,172,987 |
| Series K085, Class A2 | ||
| 4.06%, 10/25/28 (a)(k) | 900,000 | 925,514 |
| Series K087, Class A2 | ||
| 3.77%, 12/25/28 (a) | 2,560,000 | 2,611,314 |
| Series K088, Class A2 | ||
| 3.69%, 01/25/29 (a) | 600,000 | 609,445 |
| Series K100, Class A2 | ||
| 2.67%, 09/25/29 (a) | 800,000 | 762,310 |
| Series K103, Class A2 | ||
| 2.65%, 11/25/29 (a) | 2,200,000 | 2,093,675 |
| Series K-1511, Class A2 | ||
| 3.47%, 03/25/31 (a) | 500,000 | 499,983 |
| Series K-1512, Class A2 | ||
| 2.99%, 05/25/31 (a) | 1,425,000 | 1,370,310 |
| Series K154, Class A2 | ||
| 3.42%, 04/25/32 (a) | 1,760,000 | 1,753,300 |
| Series K155, Class A3 | ||
| 3.75%, 04/25/33 (a) | 835,000 | 832,337 |
| Series K157, Class A2 | ||
| 3.99%, 05/25/33 (a) | 1,700,000 | 1,728,716 |
| Series K727, Class A2 | ||
| 2.95%, 07/25/24 (a) | 1,747,969 | 1,728,548 |
| Series K728, Class A2 | ||
| 3.06%, 08/25/24 (a)(k) | 1,670,285 | 1,659,064 |
104
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Series K731, Class A2 | ||
| 3.60%, 02/25/25 (a)(k) | 298,961 | 299,811 |
| Series K733, Class A2 | ||
| 3.75%, 08/25/25 (a)(k) | 1,500,000 | 1,511,615 |
| Series K735, Class A2 | ||
| 2.86%, 05/25/26 (a) | 100,000 | 97,571 |
| Series KS03, Class A4 | ||
| 3.16%, 05/25/25 (a)(k) | 250,000 | 248,021 |
| GS Mortgage Securities Trust | ||
| Series 2013-GC13, Class A5 | ||
| 4.17%, 07/10/46 (a)(k) | 649,000 | 649,728 |
| Series 2013-GC14, Class A5 | ||
| 4.24%, 08/10/46 (a) | 700,000 | 700,808 |
| Series 2016-GS4, Class A4 | ||
| 3.44%, 11/10/49 (a) | 365,000 | 353,055 |
| Series 2020-GC45, Class A5 | ||
| 2.91%, 02/13/53 (a) | 3,500,000 | 3,177,908 |
| JP Morgan Chase Commercial Mortgage Securities Trust | ||
| Series 2014-C20, Class A4A1 | ||
| 3.54%, 07/15/47 (a) | 633,446 | 617,501 |
| Series 2015-JP1, Class A4 | ||
| 3.65%, 01/15/49 (a) | 600,000 | 588,713 |
| JPMBB Commercial Mortgage Securities Trust | ||
| Series 2015-C28, Class A4 | ||
| 3.23%, 10/15/48 (a) | 2,000,000 | 1,953,513 |
| Series 2015-C29, Class A4 | ||
| 3.61%, 05/15/48 (a) | 1,000,000 | 982,222 |
| Series 2015-C33, Class A4 | ||
| 3.77%, 12/15/48 (a) | 1,150,000 | 1,132,524 |
| Morgan Stanley Bank of America Merrill Lynch Trust | ||
| Series 2013-C10, Class A4 | ||
| 4.21%, 07/15/46 (a)(k) | 180,000 | 179,424 |
| Series 2013-C11, Class A4 | ||
| 4.30%, 08/15/46 (a)(k) | 1,000,000 | 994,804 |
| Series 2013-C8, Class AS | ||
| 3.38%, 12/15/48 (a) | 80,000 | 79,514 |
| Series 2014-C16, Class A5 | ||
| 3.89%, 06/15/47 (a) | 270,000 | 268,507 |
| Series 2015-C24, Class A4 | ||
| 3.73%, 05/15/48 (a) | 93,000 | 91,522 |
| Series 2015-C24, Class ASB | ||
| 3.48%, 05/15/48 (a) | 615,956 | 609,641 |
| Morgan Stanley Capital I Trust | ||
| Series 2015-UBS8, Class A4 | ||
| 3.81%, 12/15/48 (a) | 400,000 | 393,300 |
| Series 2017-H1, Class A4 | ||
| 3.26%, 06/15/50 (a) | 250,000 | 240,121 |
| Series 2017-HR2, Class A4 | ||
| 3.59%, 12/15/50 (a) | 1,300,000 | 1,255,536 |
| Series 2020-HR8, Class A4 | ||
| 2.04%, 07/15/53 (a) | 3,000,000 | 2,543,634 |
| UBS Commercial Mortgage Trust | ||
| Series 2017-C3, Class A4 | ||
| 3.43%, 08/15/50 (a) | 1,550,000 | 1,485,239 |
| Series 2017-C6, Class A5 | ||
| 3.58%, 12/15/50 (a) | 1,000,000 | 965,349 |
| Series 2019-C18, Class A4 | ||
| 3.04%, 12/15/52 (a) | 500,000 | 454,173 |
| Wells Fargo Commercial Mortgage Trust | ||
| Series 2013-LC12, Class A4 | ||
| 4.22%, 07/15/46 (a)(k) | 640,000 | 636,724 |
| Series 2014-LC16 Class A4 | ||
| 3.55%, 08/15/50 (a) | 694,939 | 687,263 |
| Series 2015-C28, Class A3 | ||
| 3.29%, 05/15/48 (a) | 993,376 | 956,646 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Series 2015-C30, Class A4 | ||
| 3.66%, 09/15/58 (a) | 723,000 | 712,036 |
| Series 2015-C31, Class A3 | ||
| 3.43%, 11/15/48 (a) | 1,268,747 | 1,247,235 |
| Series 2015-P2, Class A4 | ||
| 3.81%, 12/15/48 (a) | 1,500,000 | 1,482,176 |
| Series 2016-NXS5, Class A4 | ||
| 3.37%, 01/15/59 (a) | 1,375,000 | 1,344,838 |
| Series 2016-NXS5, Class A6 | ||
| 3.64%, 01/15/59 (a) | 2,000,000 | 1,963,199 |
| Series 2016-NXS6, Class A4 | ||
| 2.92%, 11/15/49 (a) | 150,000 | 142,814 |
| Series 2017-C40, Class A4 | ||
| 3.58%, 10/15/50 (a) | 1,551,000 | 1,500,927 |
| Series 2017-C41, Class A4 | ||
| 3.47%, 11/15/50 (a) | 2,000,000 | 1,921,428 |
| Series 2018-C44, Class A5 | ||
| 4.21%, 05/15/51 (a) | 1,500,000 | 1,492,553 |
| Series 2018-C47, Class A3 | ||
| 4.18%, 09/15/61 (a) | 1,275,000 | 1,252,344 |
| Series 2019-C50, Class A5 | ||
| 3.73%, 05/15/52 (a) | 1,000,000 | 963,787 |
| Series 2019-C53, Class A4 | ||
| 3.04%, 10/15/52 (a) | 4,000,000 | 3,671,685 |
| Wells Fargo Commercial Mortgage Trust 2015-NXS4 | ||
| Series 2015-NXS4, Class A4 | ||
| 3.72%, 12/15/48 (a) | 2,000,000 | 1,970,616 |
| Wells Fargo Commercial Mortgage Trust 2016-C32 | ||
| Series 2016-C32, Class A4 | ||
| 3.56%, 01/15/59 (a) | 500,000 | 490,501 |
| Wells Fargo Commercial Mortgage Trust 2019-C53 | ||
| Series 2017-C42, Class A4 | ||
| 3.59%, 12/15/50 (a) | 2,400,000 | 2,319,920 |
| Wells Fargo Commercial Mortgage Trust 2019-C54 | ||
| Series 2019-C54, Class A4 | ||
| 3.15%, 12/15/52 (a) | 800,000 | 739,136 |
| Wells Fargo Commercial Mortgage Trust 2020-C55 | ||
| Series 2020-C55, Class A5 | ||
| 2.73%, 02/15/53 (a) | 750,000 | 671,431 |
| Wells Fargo Commercial Mortgage Trust 2020-C58 | ||
| Series 2020-C58, Class A4 | ||
| 2.09%, 07/15/53 (a) | 3,000,000 | 2,526,781 |
| WFRBS Commercial Mortgage Trust | ||
| Series 2013-C12, Class A4 | ||
| 3.20%, 03/15/48 (a) | 615,521 | 605,975 |
| Series 2013-C14, Class A5 | ||
| 3.34%, 06/15/46 (a) | 547,687 | 542,605 |
| Series 2013-C15, Class A4 | ||
| 4.15%, 08/15/46 (a)(k) | 520,000 | 518,489 |
| Series 2014-C19, Class A4 | ||
| 3.83%, 03/15/47 (a) | 100,000 | 99,600 |
| 154,521,530 | ||
| Mortgage-Backed Securities Pass-Through 27.8% | ||
| Fannie Mae | ||
| 5.50%, 06/01/24 to 11/01/48 (a) | 4,609,529 | 4,916,439 |
| 4.50%, 12/01/24 to 07/01/50 (a) | 25,908,506 | 26,570,751 |
| 3.50%, 10/01/25 to 08/01/51 (a) | 88,791,386 | 87,156,139 |
| 3.00%, 12/01/25 to 05/01/52 (a) | 139,013,289 | 132,487,609 |
| 4.00%, 02/01/26 to 08/01/50 (a) | 59,692,074 | 60,009,648 |
| 2.50%, 07/01/27 to 05/01/52 (a) | 214,594,422 | 196,059,071 |
| 2.00%, 04/01/28 to 05/01/52 (a) | 321,320,608 | 284,136,783 |
| 5.00%, 09/01/33 to 11/01/49 (a) | 8,675,172 | 9,063,484 |
| 6.50%, 08/01/34 to 05/01/40 (a) | 523,397 | 574,881 |
| 6.00%, 04/01/35 to 07/01/41 (a) | 2,021,563 | 2,197,227 |
105
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.50%, 09/01/35 to 11/01/51 (a) | 65,087,878 | 56,980,315 |
| 1.00%, 03/01/36 to 07/01/36 (a) | 1,507,393 | 1,320,596 |
| Freddie Mac | ||
| 2.00%, 08/01/23 to 04/01/52 (a) | 299,352,864 | 263,775,468 |
| 5.50%, 05/01/24 to 08/01/41 (a) | 2,223,130 | 2,376,379 |
| 3.50%, 01/01/26 to 09/01/51 (a) | 53,218,627 | 52,183,528 |
| 4.00%, 04/01/26 to 07/01/50 (a) | 31,003,639 | 31,163,754 |
| 3.00%, 08/01/26 to 05/01/52 (a) | 93,300,552 | 88,850,333 |
| 2.50%, 04/01/27 to 05/01/52 (a) | 179,929,746 | 163,819,799 |
| 6.00%, 07/01/33 to 07/01/40 (a) | 1,522,091 | 1,653,210 |
| 5.00%, 11/01/33 to 12/01/49 (a) | 5,535,698 | 5,812,273 |
| 6.50%, 12/01/33 to 09/01/39 (a) | 196,228 | 216,974 |
| 4.50%, 05/01/34 to 08/01/49 (a) | 11,035,919 | 11,319,568 |
| 1.50%, 08/01/35 to 08/01/51 (a) | 73,890,600 | 63,948,846 |
| 1.00%, 10/01/36 (a) | 560,699 | 491,354 |
| Ginnie Mae | ||
| 3.00%, 01/20/27 to 04/20/52 (a) | 85,624,991 | 81,886,544 |
| 2.50%, 03/20/27 to 04/20/52 (a) | 109,764,089 | 101,061,952 |
| 3.50%, 09/20/32 to 06/20/51 (a) | 63,551,995 | 62,582,373 |
| 5.00%, 03/20/33 to 02/20/48 (a) | 4,569,415 | 4,833,045 |
| 5.50%, 10/20/33 to 11/20/44 (a) | 651,404 | 701,386 |
| 2.00%, 04/20/36 to 04/20/52 (a) | 108,694,238 | 97,028,279 |
| 6.00%, 10/15/36 to 01/20/45 (a) | 585,428 | 642,557 |
| 4.50%, 01/20/39 to 02/20/50 (a) | 13,889,039 | 14,349,490 |
| 4.00%, 06/15/39 to 02/20/50 (a) | 28,956,491 | 29,268,426 |
| 1.50%, 03/20/51 to 10/20/51 (a) | 1,580,019 | 1,349,469 |
| Ginnie Mae II | ||
| 2.00%, 12/20/51 to 03/20/52 (a) | 14,711,444 | 13,086,137 |
| 2.50%, 12/20/51 to 03/20/52 (a) | 13,962,380 | 12,805,595 |
| GNMA TBA | ||
| 2.50%, 07/21/52 (a)(g) | 4,500,000 | 4,115,000 |
| 3.00%, 07/21/52 (a)(g) | 9,500,000 | 8,952,983 |
| 3.50%, 07/21/52 (a)(g) | 5,500,000 | 5,344,470 |
| 4.00%, 07/21/52 (a)(g) | 2,000,000 | 1,991,494 |
| UMBS TBA | ||
| 2.00%, 07/18/37 to 07/14/52 (a)(g) | 8,000,000 | 7,203,510 |
| 2.50%, 07/18/37 to 07/14/52 (a)(g) | 45,000,000 | 40,681,076 |
| 3.00%, 07/14/52 (a)(g) | 25,000,000 | 23,277,074 |
| 3.50%, 07/14/52 (a)(g) | 20,000,000 | 19,234,887 |
| 4.00%, 07/14/52 (a)(g) | 10,500,000 | 10,357,061 |
| 2,087,837,237 | ||
| Total Securitized (Cost $2,496,721,821) | 2,261,217,945 | |
| SECURITY | NUMBER OF SHARES | VALUE ($) |
| SHORT-TERM INVESTMENTS 1.6% OF NET ASSETS | ||
| Money Market Funds 1.6% | ||
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (l) | 116,323,347 | 116,323,347 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (l)(m) | 4,892,515 | 4,892,515 |
| 121,215,862 | ||
| Total Short-Term Investments (Cost $121,215,862) | 121,215,862 | |
| Total Investments in Securities (Cost $8,356,805,324) | 7,619,290,280 | |
| * | Supranational bonds represent the debt of international organizations or institutions such as the World Bank, the International Monetary Fund, regional multilateral development banks and others. |
| (a) | The effective maturity may be shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or as the result of embedded demand features (puts or calls). |
| (b) | Security is in a fixed-rate coupon period. Based on index eligibility requirements and the fund’s investment objective this security will be removed from the index prior to converting to a floating rate security. |
| (c) | 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 $33,777,602 or 0.4% of net assets. |
| (d) | Issuer is affiliated with the fund’s investment adviser. |
| (e) | All or a portion of this security is on loan. Securities on loan were valued at $4,799,645. |
| (f) | Interest rate is subject to adjustments from time to time if a nationally recognized statistical rating organization downgrades (or subsequently upgrades) the debt rating assigned to the bond. |
| (g) | Security or a portion of the security purchased on a delayed-delivery or when-issued basis. |
| (h) | All or a portion of this security is held as collateral for delayed-delivery securities. |
| (i) | Guaranteed by the Republic of Germany. |
| (j) | Zero coupon security. |
| (k) | Fixed rate is determined by a formula set forth in the security’s offering documents and is affected by the current WAC of the underlying loans. |
| (l) | The rate shown is the 7-day yield. |
| (m) | Security purchased with cash collateral received for securities on loan. |
| GO — | General obligation |
| RB — | Revenue bond |
| REIT — | Real Estate Investment Trust |
| TBA — | To-be-announced |
| UMBS — | Uniform Mortgage-Backed Securities are single-class securities backed by mortgage loans purchased by either Freddie Mac or Fannie Mae. |
| WAC — | Weighted Average Coupon, which is the weighted average gross interest rate of the securitized asset pool and is determined by the different speeds at which the underlying mortgages are paid down. |
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See financial notes
Schwab U.S. Aggregate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
Below is a summary of the fund’s transactions with affiliated issuers during the period ended June 30, 2022:
| SECURITY RATE, MATURITY DATE | VALUE AT 12/31/21 | PURCHASES | SALES | REALIZED GAINS (LOSSES) | NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) | ACCRETION OF DISCOUNTS (AMORTIZATION OF PREMIUMS) | VALUE AT 6/30/22 | FACE AMOUNT AT 6/30/22 | INTEREST INCOME EARNED |
| CORPORATES 0.1% OF NET ASSETS | |||||||||
| Financial Institutions 0.1% | |||||||||
| Brokerage/Asset Managers/Exchanges 0.1% | |||||||||
| The Charles Schwab Corp. | |||||||||
| 2.65%, 01/25/23 | $229,406 | $— | ($228,444) | $367 | ($1,026) | ($303) | $— | $— | $514 |
| 3.55%, 02/01/24 | 157,614 | — | — | — | (5,936) | (1,348) | 150,330 | 150,000 | 2,663 |
| 0.75%, 03/18/24 | 448,060 | — | — | — | (15,884) | (541) | 431,635 | 450,000 | 1,687 |
| 3.75%, 04/01/24 | 84,476 | — | — | — | (1,942) | (1,962) | 80,572 | 80,000 | 1,500 |
| 3.00%, 03/10/25 | — | 99,691 | — | — | (1,135) | 8 | 98,564 | 100,000 | 242 |
| 4.20%, 03/24/25 | 217,644 | — | (53,712) | (538) | (8,880) | (2,088) | 152,426 | 150,000 | 3,267 |
| 3.63%, 04/01/25 | 106,668 | — | — | — | (5,793) | (977) | 99,898 | 100,000 | 1,792 |
| 3.85%, 05/21/25 | 188,704 | — | — | — | (11,147) | (1,750) | 175,807 | 175,000 | 3,369 |
| 3.45%, 02/13/26 | 107,400 | — | — | — | (7,307) | (926) | 99,167 | 100,000 | 1,706 |
| 0.90%, 03/11/26 | 366,742 | — | — | — | (29,058) | (248) | 337,436 | 375,000 | 1,687 |
| 1.15%, 05/13/26 | 247,038 | — | — | — | (21,171) | (27) | 225,840 | 250,000 | 1,437 |
| 3.20%, 03/02/27 | 214,240 | — | (24,449) | (2,483) | (16,304) | (1,579) | 169,425 | 175,000 | 3,100 |
| 2.45%, 03/03/27 | — | 437,186 | — | — | (17,338) | 582 | 420,430 | 450,000 | 2,664 |
| 3.30%, 04/01/27 | 241,650 | — | (48,539) | (5,472) | (15,773) | (1,813) | 170,053 | 175,000 | 3,712 |
| 3.20%, 01/25/28 | 242,089 | — | (26,080) | 103 | (23,916) | (730) | 191,466 | 200,000 | 3,338 |
| 2.00%, 03/20/28 | 354,686 | — | — | — | (41,511) | (279) | 312,896 | 350,000 | 3,500 |
| 4.00%, 02/01/29 | 224,536 | — | (55,102) | (241) | (20,088) | (1,323) | 147,782 | 150,000 | 3,111 |
| 3.25%, 05/22/29 | 215,274 | — | (52,728) | 333 | (22,639) | (480) | 139,760 | 150,000 | 2,528 |
| 2.75%, 10/01/29 | 157,104 | — | (23,403) | (2,805) | (17,764) | (413) | 112,719 | 125,000 | 1,915 |
| 4.63%, 03/22/30 | 177,897 | — | — | — | (24,626) | (1,217) | 152,054 | 150,000 | 3,469 |
| 1.65%, 03/11/31 | 240,508 | — | (46,579) | (925) | (32,619) | 487 | 160,872 | 200,000 | 1,696 |
| 2.30%, 05/13/31 | 202,140 | — | — | — | (32,513) | (221) | 169,406 | 200,000 | 2,300 |
| 1.95%, 12/01/31 | 245,733 | — | — | — | (43,005) | 182 | 202,910 | 250,000 | 2,410 |
| 2.90%, 03/03/32 | — | 288,959 | — | — | (24,874) | 227 | 264,312 | 300,000 | 2,103 |
| Total | $4,669,609 | $825,836 | ($559,036) | ($11,661) | ($442,249) | ($16,739) | $4,465,760 | $55,710 | |
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2022 (see financial note 2(a) for additional information):
| DESCRIPTION | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL |
| Assets | ||||
| Corporates 1 | $— | $1,782,122,769 | $— | $1,782,122,769 |
| Treasuries 1 | — | 3,056,749,268 | — | 3,056,749,268 |
| Government Related1 | — | 397,984,436 | — | 397,984,436 |
| Securitized 1 | — | 2,261,217,945 | — | 2,261,217,945 |
| Short-Term Investments1 | 121,215,862 | — | — | 121,215,862 |
| Total | $121,215,862 | $7,498,074,418 | $— | $7,619,290,280 |
| 1 | As categorized in the Portfolio Holdings. |
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
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See financial notes
Schwab U.S. Aggregate Bond ETF
Statement of Assets and Liabilities
As of June 30, 2022; unaudited
| Assets | ||
| Investments in securities, at value - affiliated (cost $4,909,172) | $4,465,760 | |
| Investments in securities, at value - unaffiliated (cost $8,351,896,152) including securities on loan of $4,799,645 | 7,614,824,520 | |
| Cash | 282,277 | |
| Deposits with brokers for TBA margin | 1,600,000 | |
| Receivables: | ||
| Investments sold | 108,710,798 | |
| Interest | 39,098,451 | |
| Dividends | 94,783 | |
| Income from securities on loan | + | 2,402 |
| Total assets | 7,769,078,991 | |
| Liabilities | ||
| Collateral held for securities on loan | 4,892,515 | |
| Payables: | ||
| Investments bought - delayed delivery | 153,056,017 | |
| Investments bought | 92,924,470 | |
| Management fees | + | 248,586 |
| Total liabilities | 251,121,588 | |
| Net assets | $7,517,957,403 | |
| Net Assets by Source | ||
| Capital received from investors | $8,322,462,403 | |
| Total distributable loss | + | (804,505,000) |
| Net assets | $7,517,957,403 | |
| Net Asset Value (NAV) | ||||
| Net Assets | ÷ | Shares Outstanding | = | NAV |
| $7,517,957,403 | 156,900,000 | $47.92 | ||
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Schwab U.S. Aggregate Bond ETF
Statement of Operations
| For the period January 1, 2022 through June 30, 2022; unaudited | ||
| Investment Income | ||
| Interest received from securities - unaffiliated | $85,122,756 | |
| Dividends received from securities - unaffiliated | 175,505 | |
| Interest received from securities - affiliated | 38,971 | |
| Securities on loan, net | + | 15,382 |
| Total investment income | 85,352,614 | |
| Expenses | ||
| Management fees | 1,615,138 | |
| Total expenses | – | 1,615,138 |
| Net investment income | 83,737,476 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) | ||
| Net realized losses on sales of securities - affiliated | (5,105) | |
| Net realized losses on sales of securities - unaffiliated | (52,094,660) | |
| Net realized losses on sales of in-kind redemptions - affiliated | (6,556) | |
| Net realized losses on sales of in-kind redemptions - unaffiliated | + | (1,243,859) |
| Net realized losses | (53,350,180) | |
| Net change in unrealized appreciation (depreciation) on securities - affiliated | (442,249) | |
| Net change in unrealized appreciation (depreciation) on securities - unaffiliated | + | (932,764,396) |
| Net change in unrealized appreciation (depreciation) | + | (933,206,645) |
| Net realized and unrealized losses | (986,556,825) | |
| Decrease in net assets resulting from operations | ($902,819,349) | |
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See financial notes
Schwab U.S. Aggregate Bond ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
| OPERATIONS | |||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
| Net investment income | $83,737,476 | $157,734,609 | |
| Net realized gains (losses) | (53,350,180) | 34,204,386 | |
| Net change in unrealized appreciation (depreciation) | + | (933,206,645) | (346,508,432) |
| Decrease in net assets from operations | ($902,819,349) | ($154,569,437) | |
| DISTRIBUTIONS TO SHAREHOLDERS | |||
| Total distributions | ($77,125,550) | ($191,909,550) | |
| TRANSACTIONS IN FUND SHARES | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | VALUE | SHARES | VALUE | ||
| Shares sold | 5,700,000 | $289,818,878 | 23,200,000 | $1,267,931,523 | |
| Shares redeemed | + | (17,100,000) | (865,712,346) | (10,700,000) | (580,401,838) |
| Net transactions in fund shares | (11,400,000) | ($575,893,468) | 12,500,000 | $687,529,685 | |
| SHARES OUTSTANDING AND NET ASSETS | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | NET ASSETS | SHARES | NET ASSETS | ||
| Beginning of period | 168,300,000 | $9,073,795,770 | 155,800,000 | $8,732,745,072 | |
| Total increase (decrease) | + | (11,400,000) | (1,555,838,367) | 12,500,000 | 341,050,698 |
| End of period | 156,900,000 | $7,517,957,403 | 168,300,000 | $9,073,795,770 | |
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Schwab 1-5 Year Corporate Bond ETF
Financial Statements
FINANCIAL HIGHLIGHTS
| 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 10/10/19 1– 12/31/19 | |||
| Per-Share Data | ||||||
| Net asset value at beginning of period | $50.57 | $51.37 | $50.04 | $50.00 | ||
| Income (loss) from investment operations: | ||||||
| Net investment income (loss)2 | 0.30 | 0.50 | 0.89 | 0.23 | ||
| Net realized and unrealized gains (losses) | (3.10) | (0.82) | 1.74 | 0.02 | ||
| Total from investment operations | (2.80) | (0.32) | 2.63 | 0.25 | ||
| Less distributions: | ||||||
| Distributions from net investment income | (0.27) | (0.48) | (0.89) | (0.21) | ||
| Distributions from net realized gains | — | — | (0.41) | — | ||
| Total distributions | (0.27) | (0.48) | (1.30) | (0.21) | ||
| Net asset value at end of period | $47.50 | $50.57 | $51.37 | $50.04 | ||
| Total return | (5.56%) 3 | (0.64%) | 5.31% | 0.50% 3 | ||
| Ratios/Supplemental Data | ||||||
| Ratios to average net assets: | ||||||
| Total expenses | 0.04% 4 | 0.05% 5 | 0.05% | 0.06% 4,6 | ||
| Net investment income (loss) | 1.25% 4 | 0.99% | 1.74% | 2.01% 4 | ||
| Portfolio turnover rate7 | 8% 3 | 13% | 80% | 12% 3 | ||
| Net assets, end of period (x 1,000) | $363,346 | $609,404 | $118,146 | $35,029 | ||
| * | Unaudited. |
| 1 | Commencement of operations. |
| 2 | Calculated based on the average shares outstanding during the period. |
| 3 | Not annualized. |
| 4 | Annualized. |
| 5 | Effective December 20, 2021, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended 12/31/21 is a blended ratio. |
| 6 | Effective December 13, 2019, the annual operating expense ratio was reduced to 0.05%. The ratio presented for the period ended 12/31/19 is a blended ratio. |
| 7 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
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See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (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 U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to orders@mysummaryprospectus.com. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
All securities are currently in a fixed-rate coupon period based on index eligibility requirements and the fund’s investment objective. Generally, for fixed-rate obligations, the rate shown is the interest rate that was established when the obligation was issued. In some cases, for securitized products, the fixed interest rate can change but remains index eligible as a fixed-rate coupon. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. The maturity date shown for all the securities is the final legal maturity.
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| CORPORATES 99.0% OF NET ASSETS | ||
| Financial Institutions 45.8% | ||
| Banking 36.2% | ||
| Ally Financial, Inc. | ||
| 1.45%, 10/02/23 (a) | 200,000 | 193,494 |
| 3.88%, 05/21/24 (a) | 150,000 | 148,601 |
| 5.13%, 09/30/24 | 120,000 | 121,469 |
| 4.63%, 03/30/25 | 75,000 | 74,663 |
| 5.80%, 05/01/25 (a) | 150,000 | 153,569 |
| 4.75%, 06/09/27 (a) | 100,000 | 96,082 |
| American Express Co. | ||
| 3.70%, 08/03/23 (a) | 375,000 | 376,429 |
| 0.75%, 11/03/23 | 150,000 | 145,278 |
| 3.40%, 02/22/24 (a) | 200,000 | 199,580 |
| 3.38%, 05/03/24 | 300,000 | 298,260 |
| 2.50%, 07/30/24 (a) | 235,000 | 229,132 |
| 3.00%, 10/30/24 (a) | 340,000 | 334,006 |
| 2.25%, 03/04/25 (a) | 250,000 | 240,760 |
| 4.20%, 11/06/25 (a) | 125,000 | 127,060 |
| 3.13%, 05/20/26 (a) | 175,000 | 170,114 |
| 1.65%, 11/04/26 (a) | 225,000 | 204,104 |
| 2.55%, 03/04/27 (a) | 300,000 | 279,858 |
| 3.30%, 05/03/27 (a) | 300,000 | 288,816 |
| Banco Bilbao Vizcaya Argentaria S.A. | ||
| 0.88%, 09/18/23 | 200,000 | 193,352 |
| 1.13%, 09/18/25 | 200,000 | 181,584 |
| Banco Santander S.A. | ||
| 2.71%, 06/27/24 | 200,000 | 195,472 |
| 3.50%, 03/24/25 | 200,000 | 195,764 |
| 2.75%, 05/28/25 | 400,000 | 379,876 |
| 5.18%, 11/19/25 | 200,000 | 200,834 |
| 1.85%, 03/25/26 | 350,000 | 315,329 |
| 4.25%, 04/11/27 | 200,000 | 193,184 |
| 1.72%, 09/14/27 (a)(b) | 200,000 | 173,812 |
| 4.18%, 03/24/28 (a)(b) | 200,000 | 191,276 |
| Bank of America Corp. | ||
| 4.10%, 07/24/23 | 300,000 | 302,886 |
| 4.13%, 01/22/24 | 500,000 | 505,745 |
| 4.00%, 04/01/24 | 325,000 | 327,834 |
| 3.86%, 07/23/24 (a)(b) | 425,000 | 423,257 |
| 4.20%, 08/26/24 | 500,000 | 501,405 |
| 0.81%, 10/24/24 (a)(b) | 400,000 | 381,772 |
| 4.00%, 01/22/25 | 450,000 | 448,533 |
| 3.46%, 03/15/25 (a)(b) | 400,000 | 394,956 |
| 3.95%, 04/21/25 | 475,000 | 469,775 |
| 0.98%, 04/22/25 (a)(b) | 350,000 | 329,308 |
| 3.84%, 04/25/25 (a)(b) | 350,000 | 349,023 |
| 3.88%, 08/01/25 | 325,000 | 324,204 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.98%, 09/25/25 (a)(b) | 400,000 | 371,056 |
| 3.09%, 10/01/25 (a)(b) | 375,000 | 363,765 |
| 2.46%, 10/22/25 (a)(b) | 425,000 | 405,526 |
| 1.53%, 12/06/25 (a)(b) | 100,000 | 93,081 |
| 3.37%, 01/23/26 (a)(b) | 420,000 | 406,783 |
| 2.02%, 02/13/26 (a)(b) | 330,000 | 309,002 |
| 4.45%, 03/03/26 | 325,000 | 324,382 |
| 3.38%, 04/02/26 (a)(b) | 550,000 | 533,291 |
| 3.50%, 04/19/26 | 425,000 | 414,375 |
| 1.32%, 06/19/26 (a)(b) | 600,000 | 545,964 |
| 4.25%, 10/22/26 | 350,000 | 345,411 |
| 1.20%, 10/24/26 (a)(b) | 350,000 | 313,866 |
| 1.66%, 03/11/27 (a)(b) | 500,000 | 449,920 |
| 3.56%, 04/23/27 (a)(b) | 500,000 | 479,665 |
| 1.73%, 07/22/27 (a)(b)(c) | 1,000,000 | 891,650 |
| 3.82%, 01/20/28 (a)(b) | 400,000 | 383,884 |
| 2.55%, 02/04/28 (a)(b) | 425,000 | 387,107 |
| 3.71%, 04/24/28 (a)(b) | 250,000 | 238,463 |
| 4.38%, 04/27/28 (a)(b) | 350,000 | 345,058 |
| Bank of Montreal | ||
| 0.45%, 12/08/23 | 250,000 | 239,897 |
| 3.30%, 02/05/24 | 400,000 | 399,172 |
| 2.50%, 06/28/24 | 230,000 | 224,811 |
| 1.50%, 01/10/25 | 300,000 | 283,122 |
| 1.85%, 05/01/25 | 325,000 | 307,515 |
| 1.25%, 09/15/26 | 250,000 | 221,743 |
| 0.95%, 01/22/27 (a)(b) | 200,000 | 178,286 |
| 2.65%, 03/08/27 | 200,000 | 185,680 |
| 4.34%, 10/05/28 (a)(b) | 175,000 | 174,956 |
| Bank of New York Mellon Corp. | ||
| 3.45%, 08/11/23 | 150,000 | 150,528 |
| 2.20%, 08/16/23 (a) | 250,000 | 247,455 |
| 0.35%, 12/07/23 (a) | 100,000 | 96,381 |
| 3.65%, 02/04/24 (a) | 200,000 | 200,768 |
| 0.50%, 04/26/24 (a) | 100,000 | 95,051 |
| 3.40%, 05/15/24 (a) | 100,000 | 99,958 |
| 3.25%, 09/11/24 (a) | 100,000 | 99,358 |
| 2.10%, 10/24/24 | 175,000 | 169,601 |
| 3.00%, 02/24/25 (a) | 95,000 | 93,234 |
| 1.60%, 04/24/25 (a) | 250,000 | 235,285 |
| 3.95%, 11/18/25 (a) | 75,000 | 75,262 |
| 0.75%, 01/28/26 (a) | 100,000 | 90,165 |
| 2.80%, 05/04/26 (a) | 200,000 | 192,896 |
| 2.45%, 08/17/26 (a) | 150,000 | 141,977 |
| 1.05%, 10/15/26 (a) | 150,000 | 133,187 |
| 3.25%, 05/16/27 (a) | 150,000 | 145,673 |
| 3.44%, 02/07/28 (a)(b) | 150,000 | 144,987 |
| 3.99%, 06/13/28 (a)(b) | 150,000 | 148,536 |
| Bank of Nova Scotia | ||
| 0.40%, 09/15/23 | 250,000 | 241,655 |
| 0.55%, 09/15/23 | 125,000 | 120,938 |
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Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.40%, 02/11/24 | 325,000 | 324,064 |
| 0.70%, 04/15/24 | 350,000 | 331,856 |
| 2.20%, 02/03/25 | 130,000 | 124,569 |
| 3.45%, 04/11/25 | 250,000 | 246,735 |
| 1.30%, 06/11/25 | 150,000 | 139,304 |
| 4.50%, 12/16/25 | 225,000 | 225,380 |
| 1.05%, 03/02/26 | 275,000 | 245,762 |
| 1.35%, 06/24/26 | 200,000 | 179,560 |
| 2.70%, 08/03/26 | 300,000 | 283,503 |
| 1.30%, 09/15/26 (a) | 200,000 | 177,586 |
| 1.95%, 02/02/27 | 100,000 | 90,454 |
| 2.95%, 03/11/27 | 100,000 | 94,159 |
| BankUnited, Inc. | ||
| 4.88%, 11/17/25 (a) | 100,000 | 101,012 |
| Barclays PLC | ||
| 4.38%, 09/11/24 | 200,000 | 199,202 |
| 1.01%, 12/10/24 (a)(b) | 300,000 | 284,940 |
| 3.65%, 03/16/25 | 375,000 | 367,234 |
| 3.93%, 05/07/25 (a)(b) | 400,000 | 394,100 |
| 4.38%, 01/12/26 | 400,000 | 395,644 |
| 2.85%, 05/07/26 (a)(b) | 250,000 | 236,385 |
| 5.20%, 05/12/26 | 350,000 | 349,366 |
| 2.28%, 11/24/27 (a)(b) | 300,000 | 266,355 |
| BNP Paribas S.A. | ||
| 4.25%, 10/15/24 | 200,000 | 199,624 |
| BPCE S.A. | ||
| 4.00%, 04/15/24 | 250,000 | 249,537 |
| Cadence Bank | ||
| 4.13%, 11/20/29 (a)(b) | 25,000 | 24,586 |
| Canadian Imperial Bank of Commerce | ||
| 3.50%, 09/13/23 | 200,000 | 200,312 |
| 0.50%, 12/14/23 | 175,000 | 167,664 |
| 3.10%, 04/02/24 | 235,000 | 232,631 |
| 2.25%, 01/28/25 | 225,000 | 216,016 |
| 0.95%, 10/23/25 | 100,000 | 90,760 |
| 1.25%, 06/22/26 | 175,000 | 156,296 |
| 3.45%, 04/07/27 | 150,000 | 143,963 |
| Capital One Financial Corp. | ||
| 3.90%, 01/29/24 (a) | 250,000 | 250,067 |
| 3.75%, 04/24/24 (a) | 100,000 | 99,721 |
| 3.30%, 10/30/24 (a) | 300,000 | 293,160 |
| 1.34%, 12/06/24 (a)(b) | 300,000 | 287,604 |
| 3.20%, 02/05/25 (a) | 195,000 | 189,675 |
| 4.25%, 04/30/25 (a) | 50,000 | 49,990 |
| 4.20%, 10/29/25 (a) | 250,000 | 246,627 |
| 2.64%, 03/03/26 (a)(b) | 100,000 | 94,567 |
| 3.75%, 07/28/26 (a) | 300,000 | 287,256 |
| 3.75%, 03/09/27 (a) | 300,000 | 287,361 |
| 3.65%, 05/11/27 (a) | 200,000 | 190,674 |
| 1.88%, 11/02/27 (a)(b) | 225,000 | 197,291 |
| 4.93%, 05/10/28 (a)(b) | 300,000 | 297,474 |
| CIT Bank NA | ||
| 2.97%, 09/27/25 (a)(b) | 150,000 | 144,047 |
| Citibank NA | ||
| 3.65%, 01/23/24 (a) | 400,000 | 401,652 |
| Citigroup, Inc. | ||
| 3.88%, 10/25/23 | 100,000 | 101,018 |
| 3.75%, 06/16/24 | 140,000 | 140,809 |
| 4.00%, 08/05/24 | 145,000 | 145,000 |
| 0.78%, 10/30/24 (a)(b) | 500,000 | 477,100 |
| 3.88%, 03/26/25 | 175,000 | 172,958 |
| 3.35%, 04/24/25 (a)(b) | 550,000 | 539,638 |
| 3.30%, 04/27/25 | 325,000 | 320,447 |
| 0.98%, 05/01/25 (a)(b) | 400,000 | 374,832 |
| 4.40%, 06/10/25 | 400,000 | 399,852 |
| 5.50%, 09/13/25 | 250,000 | 257,392 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.28%, 11/03/25 (a)(b) | 100,000 | 93,042 |
| 3.70%, 01/12/26 | 350,000 | 343,812 |
| 4.60%, 03/09/26 | 250,000 | 250,862 |
| 3.29%, 03/17/26 (a)(b) | 300,000 | 290,760 |
| 3.11%, 04/08/26 (a)(b) | 600,000 | 577,278 |
| 3.40%, 05/01/26 | 400,000 | 387,364 |
| 3.20%, 10/21/26 (a) | 575,000 | 547,659 |
| 4.30%, 11/20/26 | 175,000 | 172,968 |
| 1.12%, 01/28/27 (a)(b) | 500,000 | 442,070 |
| 1.46%, 06/09/27 (a)(b) | 525,000 | 464,310 |
| 3.89%, 01/10/28 (a)(b) | 450,000 | 432,670 |
| 3.07%, 02/24/28 (a)(b) | 450,000 | 417,717 |
| 4.66%, 05/24/28 (a)(b) | 300,000 | 297,948 |
| Citizens Bank NA | ||
| 3.75%, 02/18/26 (a) | 250,000 | 245,815 |
| Citizens Financial Group, Inc. | ||
| 4.30%, 12/03/25 (a) | 50,000 | 49,711 |
| 2.85%, 07/27/26 (a) | 50,000 | 46,899 |
| Comerica Bank | ||
| 2.50%, 07/23/24 | 250,000 | 242,920 |
| Comerica, Inc. | ||
| 3.70%, 07/31/23 (a) | 100,000 | 99,980 |
| Cooperatieve Rabobank UA | ||
| 0.38%, 01/12/24 | 250,000 | 238,465 |
| 3.38%, 05/21/25 | 250,000 | 246,630 |
| 4.38%, 08/04/25 | 300,000 | 297,315 |
| 3.75%, 07/21/26 | 250,000 | 238,395 |
| Credit Suisse AG | ||
| 0.52%, 08/09/23 | 250,000 | 241,517 |
| 0.50%, 02/02/24 | 250,000 | 235,953 |
| 3.63%, 09/09/24 | 400,000 | 392,796 |
| 3.70%, 02/21/25 | 250,000 | 244,782 |
| 2.95%, 04/09/25 | 250,000 | 239,293 |
| 1.25%, 08/07/26 | 300,000 | 262,860 |
| Credit Suisse Group AG | ||
| 3.75%, 03/26/25 | 400,000 | 388,120 |
| 4.55%, 04/17/26 | 350,000 | 342,475 |
| Deutsche Bank AG | ||
| 0.96%, 11/08/23 | 200,000 | 191,912 |
| 0.90%, 05/28/24 | 200,000 | 187,758 |
| 3.70%, 05/30/24 | 200,000 | 197,802 |
| 2.22%, 09/18/24 (a)(b) | 300,000 | 290,214 |
| 1.45%, 04/01/25 (a)(b) | 150,000 | 140,388 |
| 3.96%, 11/26/25 (a)(b) | 325,000 | 315,071 |
| 4.10%, 01/13/26 | 150,000 | 148,402 |
| 1.69%, 03/19/26 | 150,000 | 134,613 |
| 2.13%, 11/24/26 (a)(b) | 350,000 | 311,675 |
| 2.31%, 11/16/27 (a)(b) | 300,000 | 259,122 |
| 2.55%, 01/07/28 (a)(b) | 300,000 | 259,737 |
| Discover Bank | ||
| 4.20%, 08/08/23 | 250,000 | 250,830 |
| 2.45%, 09/12/24 (a) | 250,000 | 240,350 |
| 4.25%, 03/13/26 | 100,000 | 97,732 |
| 3.45%, 07/27/26 (a) | 250,000 | 236,668 |
| Discover Financial Services | ||
| 3.95%, 11/06/24 (a) | 50,000 | 49,372 |
| 4.50%, 01/30/26 (a) | 50,000 | 49,057 |
| 4.10%, 02/09/27 (a) | 150,000 | 143,844 |
| Fifth Third Bancorp | ||
| 4.30%, 01/16/24 (a) | 225,000 | 226,433 |
| 3.65%, 01/25/24 (a) | 300,000 | 298,881 |
| 2.38%, 01/28/25 (a) | 170,000 | 162,969 |
| 2.55%, 05/05/27 (a) | 200,000 | 183,626 |
| 1.71%, 11/01/27 (a)(b) | 125,000 | 110,960 |
113
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Fifth Third Bank NA | ||
| 3.95%, 07/28/25 (a) | 200,000 | 200,598 |
| First Citizens BancShares, Inc. | ||
| 3.38%, 03/15/30 (a)(b) | 25,000 | 23,876 |
| First Horizon Corp. | ||
| 4.00%, 05/26/25 (a) | 75,000 | 73,784 |
| Goldman Sachs Group, Inc. | ||
| 1.22%, 12/06/23 (a) | 200,000 | 193,042 |
| 3.63%, 02/20/24 (a) | 290,000 | 289,147 |
| 4.00%, 03/03/24 | 525,000 | 526,701 |
| 3.00%, 03/15/24 | 200,000 | 197,508 |
| 3.85%, 07/08/24 (a) | 475,000 | 476,468 |
| 0.66%, 09/10/24 (a)(b) | 300,000 | 287,373 |
| 0.93%, 10/21/24 (a)(b) | 300,000 | 287,424 |
| 3.50%, 01/23/25 (a) | 575,000 | 568,428 |
| 1.76%, 01/24/25 (a)(b) | 300,000 | 288,882 |
| 3.50%, 04/01/25 (a) | 650,000 | 638,800 |
| 3.75%, 05/22/25 (a) | 350,000 | 346,286 |
| 3.27%, 09/29/25 (a)(b) | 525,000 | 511,009 |
| 4.25%, 10/21/25 | 325,000 | 323,336 |
| 0.86%, 02/12/26 (a)(b) | 150,000 | 136,685 |
| 3.75%, 02/25/26 (a) | 300,000 | 294,672 |
| 3.50%, 11/16/26 (a) | 425,000 | 408,727 |
| 1.09%, 12/09/26 (a)(b) | 425,000 | 378,212 |
| 5.95%, 01/15/27 | 150,000 | 157,016 |
| 3.85%, 01/26/27 (a) | 600,000 | 580,692 |
| 1.43%, 03/09/27 (a)(b) | 575,000 | 511,520 |
| 1.54%, 09/10/27 (a)(b) | 450,000 | 395,361 |
| 1.95%, 10/21/27 (a)(b) | 800,000 | 708,656 |
| 2.64%, 02/24/28 (a)(b) | 525,000 | 476,878 |
| 3.62%, 03/15/28 (a)(b) | 250,000 | 236,968 |
| 3.69%, 06/05/28 (a)(b) | 300,000 | 284,691 |
| HSBC Holdings PLC | ||
| 4.25%, 03/14/24 | 400,000 | 398,704 |
| 0.73%, 08/17/24 (a)(b) | 300,000 | 288,033 |
| 1.16%, 11/22/24 (a)(b) | 200,000 | 191,294 |
| 3.80%, 03/11/25 (a)(b) | 450,000 | 443,952 |
| 0.98%, 05/24/25 (a)(b) | 400,000 | 373,476 |
| 4.25%, 08/18/25 | 300,000 | 296,034 |
| 2.63%, 11/07/25 (a)(b) | 350,000 | 333,900 |
| 4.30%, 03/08/26 | 550,000 | 545,149 |
| 3.00%, 03/10/26 (a)(b) | 200,000 | 190,928 |
| 1.65%, 04/18/26 (a)(b) | 350,000 | 321,366 |
| 3.90%, 05/25/26 | 250,000 | 244,937 |
| 2.10%, 06/04/26 (a)(b) | 400,000 | 370,028 |
| 4.29%, 09/12/26 (a)(b) | 500,000 | 490,000 |
| 4.38%, 11/23/26 | 200,000 | 195,948 |
| 1.59%, 05/24/27 (a)(b) | 300,000 | 263,991 |
| 2.25%, 11/22/27 (a)(b) | 450,000 | 401,251 |
| 4.04%, 03/13/28 (a)(b) | 500,000 | 475,560 |
| 4.76%, 06/09/28 (a)(b) | 400,000 | 389,228 |
| HSBC USA, Inc. | ||
| 3.50%, 06/23/24 | 150,000 | 149,091 |
| Huntington Bancshares, Inc. | ||
| 2.63%, 08/06/24 (a) | 100,000 | 97,172 |
| 4.00%, 05/15/25 (a) | 100,000 | 99,641 |
| Huntington National Bank | ||
| 3.55%, 10/06/23 (a) | 150,000 | 149,916 |
| 4.55%, 05/17/28 (a)(b) | 250,000 | 249,057 |
| ING Groep N.V. | ||
| 4.10%, 10/02/23 | 250,000 | 250,910 |
| 3.55%, 04/09/24 | 200,000 | 198,460 |
| 3.87%, 03/28/26 (a)(b) | 200,000 | 196,230 |
| 3.95%, 03/29/27 | 200,000 | 193,132 |
| 1.73%, 04/01/27 (a)(b) | 200,000 | 178,838 |
| 4.02%, 03/28/28 (a)(b) | 250,000 | 238,790 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| JPMorgan Chase & Co. | ||
| 3.88%, 02/01/24 | 300,000 | 302,049 |
| 3.63%, 05/13/24 | 400,000 | 400,672 |
| 3.80%, 07/23/24 (a)(b) | 365,000 | 363,974 |
| 3.88%, 09/10/24 | 575,000 | 574,057 |
| 0.65%, 09/16/24 (a)(b) | 200,000 | 191,992 |
| 4.02%, 12/05/24 (a)(b) | 400,000 | 398,756 |
| 3.13%, 01/23/25 (a) | 400,000 | 394,600 |
| 0.56%, 02/16/25 (a)(b) | 200,000 | 188,710 |
| 3.22%, 03/01/25 (a)(b) | 400,000 | 393,272 |
| 0.82%, 06/01/25 (a)(b) | 300,000 | 280,833 |
| 3.85%, 06/14/25 (a)(b) | 300,000 | 297,102 |
| 0.97%, 06/23/25 (a)(b) | 300,000 | 280,770 |
| 3.90%, 07/15/25 (a) | 475,000 | 477,399 |
| 7.75%, 07/15/25 | 75,000 | 82,196 |
| 2.30%, 10/15/25 (a)(b) | 355,000 | 338,606 |
| 1.56%, 12/10/25 (a)(b) | 550,000 | 515,278 |
| 2.01%, 03/13/26 (a)(b) | 400,000 | 374,588 |
| 3.30%, 04/01/26 (a) | 450,000 | 437,364 |
| 2.08%, 04/22/26 (a)(b) | 650,000 | 609,433 |
| 4.08%, 04/26/26 (a)(b) | 300,000 | 297,342 |
| 3.20%, 06/15/26 (a) | 300,000 | 291,177 |
| 2.95%, 10/01/26 (a) | 500,000 | 477,635 |
| 1.05%, 11/19/26 (a)(b) | 500,000 | 445,315 |
| 4.13%, 12/15/26 | 350,000 | 347,854 |
| 3.96%, 01/29/27 (a)(b) | 400,000 | 391,920 |
| 1.04%, 02/04/27 (a)(b) | 375,000 | 331,856 |
| 1.58%, 04/22/27 (a)(b) | 400,000 | 357,144 |
| 8.00%, 04/29/27 | 75,000 | 86,127 |
| 1.47%, 09/22/27 (a)(b) | 525,000 | 460,966 |
| 3.78%, 02/01/28 (a)(b) | 500,000 | 480,440 |
| 2.95%, 02/24/28 (a)(b) | 250,000 | 232,005 |
| 4.32%, 04/26/28 (a)(b) | 500,000 | 492,560 |
| 3.54%, 05/01/28 (a)(b) | 375,000 | 355,462 |
| 2.18%, 06/01/28 (a)(b) | 250,000 | 223,015 |
| KeyBank NA | ||
| 3.40%, 05/20/26 | 200,000 | 192,002 |
| KeyCorp | ||
| 4.15%, 10/29/25 | 50,000 | 49,891 |
| 2.25%, 04/06/27 | 150,000 | 135,087 |
| Lloyds Banking Group PLC | ||
| 4.05%, 08/16/23 | 300,000 | 300,993 |
| 3.90%, 03/12/24 | 200,000 | 199,722 |
| 4.50%, 11/04/24 | 200,000 | 199,354 |
| 4.45%, 05/08/25 | 300,000 | 300,519 |
| 3.87%, 07/09/25 (a)(b) | 300,000 | 296,736 |
| 4.58%, 12/10/25 | 250,000 | 245,532 |
| 2.44%, 02/05/26 (a)(b) | 250,000 | 236,928 |
| 4.65%, 03/24/26 | 225,000 | 221,240 |
| 3.75%, 01/11/27 | 250,000 | 241,500 |
| 1.63%, 05/11/27 (a)(b) | 200,000 | 178,072 |
| 3.75%, 03/18/28 (a)(b) | 200,000 | 190,322 |
| Manufacturers & Traders Trust Co. | ||
| 2.90%, 02/06/25 (a) | 250,000 | 244,987 |
| Mitsubishi UFJ Financial Group, Inc. | ||
| 3.76%, 07/26/23 | 250,000 | 249,827 |
| 2.53%, 09/13/23 | 200,000 | 198,136 |
| 3.41%, 03/07/24 | 250,000 | 248,285 |
| 2.80%, 07/18/24 | 250,000 | 243,760 |
| 0.85%, 09/15/24 (a)(b) | 200,000 | 192,798 |
| 2.19%, 02/25/25 | 400,000 | 380,216 |
| 3.78%, 03/02/25 | 250,000 | 248,367 |
| 1.41%, 07/17/25 | 200,000 | 184,038 |
| 0.95%, 07/19/25 (a)(b) | 450,000 | 420,489 |
| 3.85%, 03/01/26 | 550,000 | 541,062 |
| 2.76%, 09/13/26 | 200,000 | 187,322 |
| 1.54%, 07/20/27 (a)(b) | 300,000 | 265,044 |
114
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.64%, 10/13/27 (a)(b) | 200,000 | 176,526 |
| 2.34%, 01/19/28 (a)(b) | 250,000 | 226,013 |
| 4.08%, 04/19/28 (a)(b) | 200,000 | 194,948 |
| Mizuho Financial Group, Inc. | ||
| 1.24%, 07/10/24 (a)(b) | 200,000 | 194,508 |
| 0.85%, 09/08/24 (a)(b) | 200,000 | 192,418 |
| 3.92%, 09/11/24 (a)(b) | 50,000 | 49,925 |
| 2.84%, 07/16/25 (a)(b) | 150,000 | 145,361 |
| 2.56%, 09/13/25 (a)(b) | 50,000 | 47,976 |
| 2.23%, 05/25/26 (a)(b) | 200,000 | 187,292 |
| 2.84%, 09/13/26 | 200,000 | 186,184 |
| 3.66%, 02/28/27 | 100,000 | 95,792 |
| 1.23%, 05/22/27 (a)(b) | 200,000 | 174,970 |
| 1.55%, 07/09/27 (a)(b) | 200,000 | 176,018 |
| Morgan Stanley | ||
| 3.88%, 04/29/24 | 500,000 | 501,550 |
| 3.70%, 10/23/24 | 600,000 | 598,926 |
| 0.79%, 01/22/25 (a)(b) | 300,000 | 283,956 |
| 0.79%, 05/30/25 (a)(b) | 500,000 | 465,915 |
| 2.72%, 07/22/25 (a)(b) | 385,000 | 371,640 |
| 4.00%, 07/23/25 | 525,000 | 525,310 |
| 0.86%, 10/21/25 (a)(b) | 250,000 | 230,805 |
| 1.16%, 10/21/25 (a)(b) | 300,000 | 278,334 |
| 5.00%, 11/24/25 | 325,000 | 330,951 |
| 3.88%, 01/27/26 | 525,000 | 518,128 |
| 2.63%, 02/18/26 (a)(b) | 250,000 | 239,215 |
| 2.19%, 04/28/26 (a)(b) | 600,000 | 563,106 |
| 3.13%, 07/27/26 | 200,000 | 190,938 |
| 6.25%, 08/09/26 | 200,000 | 213,240 |
| 4.35%, 09/08/26 | 400,000 | 396,300 |
| 0.99%, 12/10/26 (a)(b) | 400,000 | 354,928 |
| 3.63%, 01/20/27 | 600,000 | 582,738 |
| 3.95%, 04/23/27 | 300,000 | 291,138 |
| 1.59%, 05/04/27 (a)(b) | 675,000 | 602,316 |
| 1.51%, 07/20/27 (a)(b) | 550,000 | 483,873 |
| 2.48%, 01/21/28 (a)(b) | 400,000 | 364,304 |
| 4.21%, 04/20/28 (a)(b) | 400,000 | 391,544 |
| National Australia Bank Ltd. | ||
| 2.50%, 07/12/26 | 350,000 | 330,228 |
| 3.91%, 06/09/27 | 250,000 | 247,135 |
| National Bank of Canada | ||
| 0.55%, 11/15/24 (a)(b) | 250,000 | 238,630 |
| Natwest Group PLC | ||
| 3.88%, 09/12/23 | 550,000 | 548,641 |
| 6.00%, 12/19/23 | 250,000 | 254,725 |
| 5.13%, 05/28/24 | 200,000 | 200,888 |
| 4.27%, 03/22/25 (a)(b) | 300,000 | 297,102 |
| 4.80%, 04/05/26 | 300,000 | 299,196 |
| 1.64%, 06/14/27 (a)(b) | 250,000 | 219,633 |
| 3.75%, 11/01/29 (a)(b) | 200,000 | 192,100 |
| Northern Trust Corp. | ||
| 3.95%, 10/30/25 | 125,000 | 125,588 |
| 4.00%, 05/10/27 (a) | 150,000 | 151,142 |
| 3.38%, 05/08/32 (a)(b) | 100,000 | 94,316 |
| Pacific Western Bank | ||
| 3.25%, 05/01/31 (a)(b) | 100,000 | 91,858 |
| PNC Bank NA | ||
| 3.80%, 07/25/23 (a) | 250,000 | 251,282 |
| 2.95%, 02/23/25 (a) | 250,000 | 243,760 |
| 3.88%, 04/10/25 (a) | 250,000 | 247,917 |
| 4.20%, 11/01/25 (a) | 250,000 | 250,177 |
| PNC Financial Services Group, Inc. | ||
| 3.50%, 01/23/24 (a) | 225,000 | 225,142 |
| 3.90%, 04/29/24 (a) | 65,000 | 65,366 |
| 2.20%, 11/01/24 (a) | 150,000 | 145,527 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.15%, 08/13/26 (a) | 150,000 | 134,138 |
| 3.15%, 05/19/27 (a) | 200,000 | 190,938 |
| Regions Financial Corp. | ||
| 2.25%, 05/18/25 (a) | 100,000 | 95,478 |
| Royal Bank of Canada | ||
| 3.70%, 10/05/23 | 345,000 | 347,301 |
| 0.50%, 10/26/23 | 200,000 | 193,506 |
| 0.43%, 01/19/24 | 250,000 | 239,487 |
| 2.55%, 07/16/24 | 300,000 | 293,316 |
| 0.65%, 07/29/24 | 150,000 | 140,915 |
| 2.25%, 11/01/24 | 375,000 | 362,674 |
| 1.15%, 06/10/25 | 350,000 | 323,862 |
| 0.88%, 01/20/26 | 150,000 | 134,571 |
| 4.65%, 01/27/26 | 275,000 | 278,140 |
| 1.20%, 04/27/26 | 325,000 | 292,224 |
| 1.15%, 07/14/26 | 150,000 | 133,944 |
| 1.40%, 11/02/26 | 200,000 | 177,758 |
| 3.63%, 05/04/27 | 250,000 | 243,210 |
| Santander Holdings USA, Inc. | ||
| 3.50%, 06/07/24 (a) | 175,000 | 171,974 |
| 3.45%, 06/02/25 (a) | 200,000 | 192,890 |
| 4.50%, 07/17/25 (a) | 150,000 | 149,597 |
| 3.24%, 10/05/26 (a)(d) | 150,000 | 140,741 |
| 2.49%, 01/06/28 (a)(b) | 175,000 | 154,613 |
| Santander UK Group Holdings PLC | ||
| 4.80%, 11/15/24 (a)(b) | 200,000 | 200,156 |
| 1.09%, 03/15/25 (a)(b) | 200,000 | 186,960 |
| 1.53%, 08/21/26 (a)(b) | 200,000 | 179,240 |
| 1.67%, 06/14/27 (a)(b) | 150,000 | 131,207 |
| 2.47%, 01/11/28 (a)(b) | 200,000 | 177,508 |
| Santander UK PLC | ||
| 4.00%, 03/13/24 | 200,000 | 200,340 |
| Signature Bank | ||
| 4.00%, 10/15/30 (a)(b) | 75,000 | 71,873 |
| State Street Corp. | ||
| 3.70%, 11/20/23 | 200,000 | 201,668 |
| 3.78%, 12/03/24 (a)(b) | 100,000 | 99,933 |
| 3.30%, 12/16/24 | 100,000 | 99,754 |
| 3.55%, 08/18/25 | 325,000 | 323,589 |
| 2.35%, 11/01/25 (a)(b) | 250,000 | 240,650 |
| 2.90%, 03/30/26 (a)(b) | 100,000 | 97,033 |
| 2.65%, 05/19/26 | 100,000 | 95,753 |
| 2.20%, 02/07/28 (a)(b) | 125,000 | 114,521 |
| Sumitomo Mitsui Banking Corp. | ||
| 3.40%, 07/11/24 | 200,000 | 198,226 |
| Sumitomo Mitsui Financial Group, Inc. | ||
| 3.75%, 07/19/23 | 200,000 | 200,796 |
| 3.94%, 10/16/23 | 150,000 | 150,912 |
| 0.51%, 01/12/24 | 200,000 | 190,646 |
| 2.70%, 07/16/24 | 200,000 | 194,906 |
| 2.45%, 09/27/24 | 250,000 | 241,260 |
| 2.35%, 01/15/25 | 250,000 | 239,312 |
| 1.47%, 07/08/25 | 400,000 | 368,552 |
| 0.95%, 01/12/26 | 200,000 | 178,416 |
| 3.78%, 03/09/26 | 250,000 | 245,845 |
| 2.63%, 07/14/26 | 350,000 | 327,540 |
| 1.40%, 09/17/26 | 325,000 | 287,758 |
| 3.01%, 10/19/26 | 300,000 | 284,208 |
| 3.45%, 01/11/27 | 250,000 | 240,142 |
| SVB Financial Group | ||
| 3.50%, 01/29/25 | 50,000 | 49,056 |
| 1.80%, 10/28/26 (a) | 150,000 | 133,766 |
| 4.35%, 04/29/28 (a)(b) | 50,000 | 48,587 |
| Svenska Handelsbanken AB | ||
| 3.90%, 11/20/23 | 250,000 | 251,280 |
115
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Synchrony Financial | ||
| 4.38%, 03/19/24 (a) | 125,000 | 124,270 |
| 4.25%, 08/15/24 (a) | 250,000 | 248,915 |
| 4.88%, 06/13/25 (a) | 100,000 | 98,900 |
| 4.50%, 07/23/25 (a) | 200,000 | 194,602 |
| Toronto-Dominion Bank | ||
| 3.50%, 07/19/23 | 325,000 | 326,066 |
| 0.45%, 09/11/23 | 300,000 | 290,502 |
| 0.55%, 03/04/24 | 150,000 | 142,823 |
| 3.25%, 03/11/24 | 200,000 | 198,676 |
| 2.65%, 06/12/24 | 325,000 | 319,004 |
| 0.70%, 09/10/24 | 200,000 | 187,850 |
| 1.45%, 01/10/25 | 100,000 | 94,730 |
| 1.15%, 06/12/25 | 250,000 | 230,895 |
| 0.75%, 09/11/25 | 75,000 | 67,740 |
| 0.75%, 01/06/26 | 250,000 | 223,713 |
| 1.20%, 06/03/26 | 250,000 | 223,820 |
| 1.25%, 09/10/26 | 250,000 | 222,018 |
| 1.95%, 01/12/27 | 150,000 | 135,635 |
| 2.80%, 03/10/27 | 200,000 | 187,512 |
| 4.11%, 06/08/27 | 300,000 | 296,991 |
| 3.63%, 09/15/31 (a)(b) | 275,000 | 264,962 |
| Truist Bank | ||
| 3.20%, 04/01/24 (a) | 200,000 | 199,276 |
| 3.69%, 08/02/24 (a)(b) | 100,000 | 99,989 |
| 2.15%, 12/06/24 (a) | 250,000 | 241,127 |
| 1.50%, 03/10/25 (a) | 250,000 | 236,125 |
| 3.63%, 09/16/25 (a) | 300,000 | 294,597 |
| 4.05%, 11/03/25 (a) | 100,000 | 100,605 |
| 3.30%, 05/15/26 (a) | 200,000 | 193,124 |
| Truist Financial Corp. | ||
| 3.75%, 12/06/23 (a) | 100,000 | 100,684 |
| 2.50%, 08/01/24 (a) | 175,000 | 170,914 |
| 2.85%, 10/26/24 (a) | 175,000 | 171,603 |
| 4.00%, 05/01/25 (a) | 175,000 | 175,478 |
| 3.70%, 06/05/25 (a) | 150,000 | 149,478 |
| 1.20%, 08/05/25 (a) | 150,000 | 138,176 |
| 1.27%, 03/02/27 (a)(b) | 225,000 | 202,298 |
| 4.12%, 06/06/28 (a)(b) | 300,000 | 296,322 |
| US Bancorp | ||
| 3.70%, 01/30/24 (a) | 55,000 | 55,309 |
| 3.38%, 02/05/24 (a) | 255,000 | 255,574 |
| 2.40%, 07/30/24 (a) | 200,000 | 195,322 |
| 3.60%, 09/11/24 (a) | 150,000 | 149,751 |
| 1.45%, 05/12/25 (a) | 300,000 | 281,883 |
| 3.95%, 11/17/25 (a) | 150,000 | 150,858 |
| 3.10%, 04/27/26 (a) | 200,000 | 193,054 |
| 2.38%, 07/22/26 (a) | 200,000 | 188,774 |
| 3.15%, 04/27/27 (a) | 150,000 | 144,470 |
| 2.22%, 01/27/28 (a)(b) | 250,000 | 229,720 |
| US Bank NA | ||
| 3.40%, 07/24/23 (a) | 250,000 | 249,777 |
| 2.05%, 01/21/25 (a) | 100,000 | 96,026 |
| 2.80%, 01/27/25 (a) | 200,000 | 195,588 |
| Valley National Bancorp | ||
| 3.00%, 06/15/31 (a)(b) | 75,000 | 67,797 |
| Wells Fargo & Co. | ||
| 4.13%, 08/15/23 | 275,000 | 277,021 |
| 4.48%, 01/16/24 | 100,000 | 101,218 |
| 3.75%, 01/24/24 (a) | 500,000 | 501,040 |
| 3.30%, 09/09/24 | 350,000 | 346,041 |
| 3.00%, 02/19/25 | 450,000 | 440,302 |
| 0.81%, 05/19/25 (a)(b) | 200,000 | 187,396 |
| 3.55%, 09/29/25 | 450,000 | 442,233 |
| 2.41%, 10/30/25 (a)(b) | 500,000 | 477,140 |
| 2.16%, 02/11/26 (a)(b) | 500,000 | 470,935 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.00%, 04/22/26 | 600,000 | 571,914 |
| 3.91%, 04/25/26 (a)(b) | 200,000 | 196,886 |
| 2.19%, 04/30/26 (a)(b) | 500,000 | 469,055 |
| 4.10%, 06/03/26 | 400,000 | 393,344 |
| 7.57%, 08/01/26 | 50,000 | 55,042 |
| 3.00%, 10/23/26 | 625,000 | 590,262 |
| 3.20%, 06/17/27 (a)(b) | 475,000 | 450,808 |
| 3.53%, 03/24/28 (a)(b) | 600,000 | 569,514 |
| 3.58%, 05/22/28 (a)(b) | 500,000 | 474,270 |
| 2.39%, 06/02/28 (a)(b) | 500,000 | 448,210 |
| Western Alliance Bancorp | ||
| 3.00%, 06/15/31 (a)(b) | 100,000 | 90,035 |
| Westpac Banking Corp. | ||
| 3.30%, 02/26/24 | 350,000 | 349,212 |
| 2.35%, 02/19/25 | 175,000 | 169,206 |
| 3.74%, 08/26/25 | 150,000 | 149,637 |
| 2.85%, 05/13/26 | 350,000 | 336,122 |
| 1.15%, 06/03/26 | 300,000 | 269,445 |
| 2.70%, 08/19/26 | 200,000 | 190,276 |
| 3.35%, 03/08/27 | 100,000 | 96,918 |
| 2.89%, 02/04/30 (a)(b) | 175,000 | 165,953 |
| 4.32%, 11/23/31 (a)(b) | 275,000 | 265,034 |
| 131,465,710 | ||
| Brokerage/Asset Managers/Exchanges 1.4% | ||
| Affiliated Managers Group, Inc. | ||
| 4.25%, 02/15/24 | 100,000 | 100,717 |
| 3.50%, 08/01/25 | 75,000 | 74,335 |
| Ameriprise Financial, Inc. | ||
| 4.00%, 10/15/23 | 200,000 | 201,274 |
| 3.70%, 10/15/24 | 100,000 | 100,059 |
| 3.00%, 04/02/25 (a) | 100,000 | 97,842 |
| BGC Partners, Inc. | ||
| 5.38%, 07/24/23 | 50,000 | 50,080 |
| 3.75%, 10/01/24 (a) | 100,000 | 97,595 |
| BlackRock, Inc. | ||
| 3.50%, 03/18/24 | 185,000 | 186,064 |
| 3.20%, 03/15/27 | 150,000 | 147,331 |
| Brookfield Asset Management, Inc. | ||
| 4.00%, 01/15/25 (a) | 165,000 | 163,980 |
| Brookfield Finance, Inc. | ||
| 4.00%, 04/01/24 (a) | 175,000 | 174,652 |
| Cboe Global Markets, Inc. | ||
| 3.65%, 01/12/27 (a) | 100,000 | 97,719 |
| CME Group, Inc. | ||
| 3.00%, 03/15/25 (a) | 150,000 | 148,287 |
| Eaton Vance Corp. | ||
| 3.50%, 04/06/27 (a) | 50,000 | 48,086 |
| Franklin Resources, Inc. | ||
| 2.85%, 03/30/25 | 50,000 | 48,677 |
| Intercontinental Exchange, Inc. | ||
| 3.65%, 05/23/25 (a) | 100,000 | 99,387 |
| 3.75%, 12/01/25 (a) | 250,000 | 248,105 |
| Invesco Finance PLC | ||
| 4.00%, 01/30/24 | 25,000 | 25,032 |
| 3.75%, 01/15/26 | 175,000 | 172,928 |
| Janus Capital Group, Inc. | ||
| 4.88%, 08/01/25 (a) | 75,000 | 75,682 |
| Jefferies Group LLC/Jefferies Group Capital Finance, Inc. | ||
| 4.85%, 01/15/27 | 175,000 | 174,596 |
| Lazard Group LLC | ||
| 3.75%, 02/13/25 | 100,000 | 98,153 |
116
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Legg Mason, Inc. | ||
| 4.75%, 03/15/26 | 100,000 | 102,555 |
| Nasdaq, Inc. | ||
| 3.85%, 06/30/26 (a) | 125,000 | 124,309 |
| Nomura Holdings, Inc. | ||
| 2.65%, 01/16/25 | 200,000 | 189,820 |
| 5.10%, 07/03/25 (e) | 200,000 | 200,946 |
| 1.85%, 07/16/25 | 300,000 | 276,315 |
| 1.65%, 07/14/26 | 200,000 | 175,634 |
| 2.33%, 01/22/27 | 200,000 | 177,082 |
| Stifel Financial Corp. | ||
| 4.25%, 07/18/24 | 115,000 | 115,521 |
| The Charles Schwab Corp. | ||
| 3.55%, 02/01/24 (a)(f) | 70,000 | 70,154 |
| 0.75%, 03/18/24 (a)(f) | 225,000 | 215,818 |
| 3.75%, 04/01/24 (a)(f) | 55,000 | 55,393 |
| 4.20%, 03/24/25 (a)(f) | 75,000 | 76,213 |
| 3.63%, 04/01/25 (a)(f) | 50,000 | 49,949 |
| 3.85%, 05/21/25 (a)(f) | 120,000 | 120,553 |
| 3.45%, 02/13/26 (a)(f) | 30,000 | 29,750 |
| 0.90%, 03/11/26 (a)(f) | 200,000 | 179,966 |
| 1.15%, 05/13/26 (a)(f) | 150,000 | 135,504 |
| 3.20%, 03/02/27 (a)(f) | 100,000 | 96,814 |
| 2.45%, 03/03/27 (a)(f) | 200,000 | 186,858 |
| 3.30%, 04/01/27 (a)(f) | 50,000 | 48,587 |
| 5,258,322 | ||
| Finance Companies 2.5% | ||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||
| 4.50%, 09/15/23 (a) | 150,000 | 149,665 |
| 1.15%, 10/29/23 | 300,000 | 286,512 |
| 4.88%, 01/16/24 (a) | 150,000 | 149,805 |
| 3.15%, 02/15/24 (a) | 150,000 | 145,867 |
| 2.88%, 08/14/24 (a) | 150,000 | 143,869 |
| 1.65%, 10/29/24 (a) | 550,000 | 509,393 |
| 3.50%, 01/15/25 (a) | 150,000 | 143,997 |
| 6.50%, 07/15/25 (a) | 200,000 | 204,788 |
| 4.45%, 10/01/25 (a) | 150,000 | 145,525 |
| 1.75%, 01/30/26 (a) | 200,000 | 174,630 |
| 4.45%, 04/03/26 (a) | 150,000 | 143,898 |
| 2.45%, 10/29/26 (a) | 600,000 | 522,822 |
| Air Lease Corp. | ||
| 3.00%, 09/15/23 (a) | 55,000 | 54,245 |
| 4.25%, 02/01/24 (a) | 150,000 | 148,624 |
| 0.70%, 02/15/24 (a) | 150,000 | 141,699 |
| 0.80%, 08/18/24 (a) | 100,000 | 91,772 |
| 2.30%, 02/01/25 (a) | 150,000 | 140,664 |
| 3.25%, 03/01/25 (a) | 150,000 | 143,504 |
| 3.38%, 07/01/25 (a) | 125,000 | 117,893 |
| 2.88%, 01/15/26 (a) | 250,000 | 229,672 |
| 3.75%, 06/01/26 (a) | 150,000 | 141,260 |
| 1.88%, 08/15/26 (a) | 200,000 | 173,168 |
| 2.20%, 01/15/27 (a) | 150,000 | 130,892 |
| 3.63%, 04/01/27 (a) | 100,000 | 92,661 |
| Aircastle Ltd. | ||
| 4.40%, 09/25/23 (a) | 125,000 | 123,795 |
| 4.13%, 05/01/24 (a) | 50,000 | 48,729 |
| 4.25%, 06/15/26 (a) | 150,000 | 138,492 |
| Ares Capital Corp. | ||
| 4.20%, 06/10/24 (a) | 160,000 | 157,333 |
| 4.25%, 03/01/25 (a) | 95,000 | 90,855 |
| 3.25%, 07/15/25 (a) | 225,000 | 208,253 |
| 3.88%, 01/15/26 (a) | 200,000 | 184,548 |
| 2.15%, 07/15/26 (a) | 175,000 | 147,320 |
| Bain Capital Specialty Finance, Inc. | ||
| 2.95%, 03/10/26 (a) | 125,000 | 111,980 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Barings BDC, Inc. | ||
| 3.30%, 11/23/26 (a)(d) | 75,000 | 64,605 |
| BlackRock TCP Capital Corp. | ||
| 2.85%, 02/09/26 (a) | 75,000 | 68,175 |
| Blackstone Private Credit Fund | ||
| 1.75%, 09/15/24 (d) | 75,000 | 69,413 |
| 2.35%, 11/22/24 (d) | 100,000 | 91,825 |
| 2.70%, 01/15/25 (a)(d) | 100,000 | 91,300 |
| 4.70%, 03/24/25 (d) | 150,000 | 144,591 |
| 2.63%, 12/15/26 (a)(d) | 225,000 | 188,044 |
| 3.25%, 03/15/27 (a)(d) | 175,000 | 148,640 |
| Blackstone Secured Lending Fund | ||
| 3.65%, 07/14/23 | 75,000 | 74,612 |
| 3.63%, 01/15/26 (a) | 125,000 | 114,775 |
| 2.75%, 09/16/26 (a) | 125,000 | 109,503 |
| 2.13%, 02/15/27 (a) | 125,000 | 104,656 |
| FS KKR Capital Corp. | ||
| 4.63%, 07/15/24 (a) | 25,000 | 24,579 |
| 4.13%, 02/01/25 (a) | 160,000 | 152,131 |
| 3.40%, 01/15/26 (a) | 300,000 | 266,706 |
| GATX Corp. | ||
| 4.35%, 02/15/24 (a) | 50,000 | 50,399 |
| 3.25%, 03/30/25 (a) | 50,000 | 48,743 |
| 3.25%, 09/15/26 (a) | 100,000 | 95,652 |
| Goldman Sachs BDC, Inc. | ||
| 3.75%, 02/10/25 (a) | 60,000 | 58,170 |
| 2.88%, 01/15/26 (a) | 100,000 | 90,463 |
| Golub Capital BDC, Inc. | ||
| 3.38%, 04/15/24 (a) | 100,000 | 96,653 |
| 2.50%, 08/24/26 (a) | 125,000 | 104,755 |
| Hercules Capital, Inc. | ||
| 2.63%, 09/16/26 (a) | 75,000 | 64,916 |
| Main Street Capital Corp. | ||
| 5.20%, 05/01/24 | 125,000 | 124,620 |
| 3.00%, 07/14/26 (a) | 100,000 | 87,475 |
| Morgan Stanley Direct Lending Fund | ||
| 4.50%, 02/11/27 (a)(d) | 100,000 | 91,043 |
| Oaktree Specialty Lending Corp. | ||
| 3.50%, 02/25/25 (a) | 110,000 | 104,512 |
| Owl Rock Capital Corp. | ||
| 5.25%, 04/15/24 (a) | 25,000 | 25,001 |
| 4.00%, 03/30/25 (a) | 105,000 | 99,297 |
| 3.75%, 07/22/25 (a) | 125,000 | 115,931 |
| 4.25%, 01/15/26 (a) | 150,000 | 138,158 |
| 3.40%, 07/15/26 (a) | 250,000 | 220,592 |
| Owl Rock Core Income Corp. | ||
| 3.13%, 09/23/26 (a)(d) | 75,000 | 64,775 |
| Owl Rock Technology Finance Corp. | ||
| 2.50%, 01/15/27 (a) | 75,000 | 63,932 |
| Prospect Capital Corp. | ||
| 3.71%, 01/22/26 (a) | 125,000 | 111,471 |
| Sixth Street Specialty Lending, Inc. | ||
| 3.88%, 11/01/24 (a) | 95,000 | 91,720 |
| 9,199,963 | ||
| Financial Other 0.1% | ||
| ORIX Corp. | ||
| 4.05%, 01/16/24 | 25,000 | 25,100 |
| 3.25%, 12/04/24 | 150,000 | 147,589 |
| 172,689 | ||
117
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Insurance 2.9% | ||
| Ace INA Holdings, Inc. | ||
| 3.15%, 03/15/25 | 150,000 | 147,349 |
| 3.35%, 05/03/26 (a) | 300,000 | 293,430 |
| Aetna, Inc. | ||
| 2.80%, 06/15/23 (a) | 35,000 | 34,577 |
| 3.50%, 11/15/24 (a) | 125,000 | 123,679 |
| Aflac, Inc. | ||
| 3.63%, 11/15/24 | 150,000 | 150,475 |
| 3.25%, 03/17/25 | 50,000 | 49,398 |
| 1.13%, 03/15/26 (a) | 75,000 | 67,839 |
| 2.88%, 10/15/26 (a) | 75,000 | 72,441 |
| Allied World Assurance Co., Holdings Ltd. | ||
| 4.35%, 10/29/25 (a) | 100,000 | 98,282 |
| Allstate Corp. | ||
| 0.75%, 12/15/25 (a) | 150,000 | 135,112 |
| 5.75%, 08/15/53 (a)(b) | 150,000 | 133,412 |
| American Equity Investment Life Holding Co. | ||
| 5.00%, 06/15/27 (a) | 100,000 | 98,579 |
| American International Group, Inc. | ||
| 4.13%, 02/15/24 | 150,000 | 151,141 |
| 2.50%, 06/30/25 (a) | 250,000 | 238,600 |
| 3.90%, 04/01/26 (a) | 300,000 | 293,736 |
| Anthem, Inc. | ||
| 3.50%, 08/15/24 (a) | 150,000 | 149,464 |
| 3.35%, 12/01/24 (a) | 150,000 | 148,186 |
| 2.38%, 01/15/25 (a) | 200,000 | 192,938 |
| 1.50%, 03/15/26 (a) | 150,000 | 137,313 |
| Aon Corp. | ||
| 8.21%, 01/01/27 | 100,000 | 107,001 |
| 2.85%, 05/28/27 (a) | 100,000 | 93,821 |
| Aon PLC | ||
| 4.00%, 11/27/23 (a) | 75,000 | 75,420 |
| 3.50%, 06/14/24 (a) | 125,000 | 124,325 |
| 3.88%, 12/15/25 (a) | 100,000 | 99,001 |
| Assurant, Inc. | ||
| 4.20%, 09/27/23 (a) | 56,000 | 56,432 |
| Assured Guaranty US Holdings, Inc. | ||
| 5.00%, 07/01/24 | 91,000 | 92,900 |
| Berkshire Hathaway, Inc. | ||
| 3.13%, 03/15/26 (a) | 475,000 | 466,611 |
| Brighthouse Financial, Inc. | ||
| 3.70%, 06/22/27 (a) | 100,000 | 93,761 |
| Brown & Brown, Inc. | ||
| 4.20%, 09/15/24 (a) | 70,000 | 70,019 |
| Chubb INA Holdings, Inc. | ||
| 3.35%, 05/15/24 | 75,000 | 74,825 |
| CNA Financial Corp. | ||
| 3.95%, 05/15/24 (a) | 75,000 | 74,996 |
| 4.50%, 03/01/26 (a) | 100,000 | 100,372 |
| CNO Financial Group, Inc. | ||
| 5.25%, 05/30/25 (a) | 100,000 | 101,553 |
| Corebridge Financial, Inc. | ||
| 3.50%, 04/04/25 (a)(d) | 175,000 | 170,450 |
| 3.65%, 04/05/27 (a)(d) | 200,000 | 188,546 |
| First American Financial Corp. | ||
| 4.60%, 11/15/24 | 75,000 | 74,837 |
| Hanover Insurance Group, Inc. | ||
| 4.50%, 04/15/26 (a) | 75,000 | 74,752 |
| Humana, Inc. | ||
| 0.65%, 08/03/23 (a) | 250,000 | 242,322 |
| 3.85%, 10/01/24 (a) | 75,000 | 75,254 |
| 4.50%, 04/01/25 (a) | 125,000 | 126,534 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.35%, 02/03/27 (a) | 150,000 | 131,396 |
| 3.95%, 03/15/27 (a) | 100,000 | 98,381 |
| Jackson Financial, Inc. | ||
| 1.13%, 11/22/23 (d) | 100,000 | 96,164 |
| Kemper Corp. | ||
| 4.35%, 02/15/25 (a) | 120,000 | 119,590 |
| Lincoln National Corp. | ||
| 4.00%, 09/01/23 | 100,000 | 100,726 |
| 3.63%, 12/12/26 (a) | 100,000 | 97,126 |
| Loews Corp. | ||
| 3.75%, 04/01/26 (a) | 100,000 | 99,205 |
| Manulife Financial Corp. | ||
| 4.15%, 03/04/26 | 175,000 | 173,689 |
| 4.06%, 02/24/32 (a)(b) | 125,000 | 115,759 |
| Marsh & McLennan Cos., Inc. | ||
| 3.88%, 03/15/24 (a) | 210,000 | 210,500 |
| 3.50%, 06/03/24 (a) | 80,000 | 79,825 |
| 3.50%, 03/10/25 (a) | 100,000 | 98,870 |
| 3.75%, 03/14/26 (a) | 100,000 | 99,194 |
| MetLife, Inc. | ||
| 4.37%, 09/15/23 | 125,000 | 126,538 |
| 3.60%, 04/10/24 | 175,000 | 175,556 |
| 3.00%, 03/01/25 | 100,000 | 98,393 |
| 3.60%, 11/13/25 (a) | 100,000 | 99,386 |
| Old Republic International Corp. | ||
| 4.88%, 10/01/24 (a) | 75,000 | 76,169 |
| 3.88%, 08/26/26 (a) | 125,000 | 121,538 |
| Principal Financial Group, Inc. | ||
| 3.40%, 05/15/25 (a) | 100,000 | 97,985 |
| Prudential Financial, Inc. | ||
| 1.50%, 03/10/26 (a) | 100,000 | 91,917 |
| 5.20%, 03/15/44 (a)(b) | 100,000 | 95,244 |
| 5.38%, 05/15/45 (a)(b) | 200,000 | 191,950 |
| Reinsurance Group of America, Inc. | ||
| 4.70%, 09/15/23 | 75,000 | 75,731 |
| 3.95%, 09/15/26 (a) | 75,000 | 74,052 |
| RenaissanceRe Finance, Inc. | ||
| 3.70%, 04/01/25 (a) | 45,000 | 44,751 |
| Swiss Re America Holding Corp. | ||
| 7.00%, 02/15/26 | 100,000 | 110,194 |
| The Progressive Corp. | ||
| 2.45%, 01/15/27 | 100,000 | 94,348 |
| 2.50%, 03/15/27 (a) | 100,000 | 94,516 |
| Trinity Acquisition PLC | ||
| 4.40%, 03/15/26 (a) | 125,000 | 123,704 |
| UnitedHealth Group, Inc. | ||
| 3.50%, 02/15/24 | 150,000 | 150,682 |
| 0.55%, 05/15/24 (a) | 50,000 | 47,685 |
| 2.38%, 08/15/24 | 275,000 | 269,797 |
| 3.75%, 07/15/25 | 300,000 | 300,396 |
| 3.70%, 12/15/25 | 100,000 | 99,924 |
| 1.25%, 01/15/26 | 150,000 | 138,537 |
| 3.10%, 03/15/26 | 200,000 | 195,978 |
| 1.15%, 05/15/26 (a) | 250,000 | 227,695 |
| 3.70%, 05/15/27 (a) | 200,000 | 199,342 |
| Unum Group | ||
| 4.00%, 03/15/24 | 50,000 | 49,940 |
| Voya Financial, Inc. | ||
| 3.65%, 06/15/26 | 75,000 | 72,944 |
| Willis North America, Inc. | ||
| 3.60%, 05/15/24 (a) | 100,000 | 98,820 |
| 4.65%, 06/15/27 (a) | 100,000 | 98,476 |
| 10,562,296 | ||
118
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| REITs 2.7% | ||
| Alexandria Real Estate Equities, Inc. | ||
| 3.45%, 04/30/25 (a) | 125,000 | 123,101 |
| 4.30%, 01/15/26 (a) | 50,000 | 50,241 |
| 3.95%, 01/15/27 (a) | 125,000 | 123,572 |
| American Campus Communities Operating Partnership LP | ||
| 4.13%, 07/01/24 (a) | 75,000 | 75,406 |
| 3.30%, 07/15/26 (a) | 100,000 | 97,782 |
| AvalonBay Communities, Inc. | ||
| 4.20%, 12/15/23 (a) | 75,000 | 75,322 |
| 3.50%, 11/15/24 (a) | 125,000 | 123,532 |
| 3.45%, 06/01/25 (a) | 75,000 | 73,856 |
| 3.50%, 11/15/25 (a) | 150,000 | 145,768 |
| 2.95%, 05/11/26 (a) | 100,000 | 95,675 |
| Boston Properties LP | ||
| 3.13%, 09/01/23 (a) | 100,000 | 99,214 |
| 3.80%, 02/01/24 (a) | 125,000 | 124,599 |
| 3.20%, 01/15/25 (a) | 170,000 | 165,876 |
| 3.65%, 02/01/26 (a) | 300,000 | 291,588 |
| Brandywine Operating Partnership LP | ||
| 4.10%, 10/01/24 (a) | 75,000 | 74,452 |
| Brixmor Operating Partnership LP | ||
| 3.65%, 06/15/24 (a) | 175,000 | 172,762 |
| 3.85%, 02/01/25 (a) | 20,000 | 19,705 |
| 4.13%, 06/15/26 (a) | 200,000 | 195,948 |
| Corporate Office Properties LP | ||
| 2.25%, 03/15/26 (a) | 75,000 | 68,006 |
| CubeSmart LP | ||
| 4.00%, 11/15/25 (a) | 100,000 | 98,943 |
| Duke Realty LP | ||
| 3.25%, 06/30/26 (a) | 75,000 | 72,337 |
| EPR Properties | ||
| 4.75%, 12/15/26 (a) | 125,000 | 117,240 |
| Essex Portfolio LP | ||
| 3.88%, 05/01/24 (a) | 100,000 | 99,846 |
| 3.50%, 04/01/25 (a) | 15,000 | 14,729 |
| 3.38%, 04/15/26 (a) | 150,000 | 145,206 |
| 3.63%, 05/01/27 (a) | 100,000 | 96,929 |
| Federal Realty Investment Trust | ||
| 3.95%, 01/15/24 (a) | 125,000 | 124,799 |
| 1.25%, 02/15/26 (a) | 100,000 | 89,573 |
| Healthcare Trust of America Holdings LP | ||
| 3.50%, 08/01/26 (a) | 125,000 | 119,109 |
| Healthpeak Properties, Inc. | ||
| 3.40%, 02/01/25 (a) | 25,000 | 24,602 |
| 4.00%, 06/01/25 (a) | 200,000 | 199,250 |
| 1.35%, 02/01/27 (a) | 100,000 | 87,943 |
| Highwoods Realty LP | ||
| 3.88%, 03/01/27 (a) | 75,000 | 72,450 |
| Host Hotels & Resorts LP | ||
| 3.88%, 04/01/24 (a) | 115,000 | 114,200 |
| 4.50%, 02/01/26 (a) | 100,000 | 98,530 |
| Kilroy Realty LP | ||
| 3.45%, 12/15/24 (a) | 75,000 | 73,163 |
| 4.38%, 10/01/25 (a) | 75,000 | 74,172 |
| Kimco Realty Corp. | ||
| 2.70%, 03/01/24 (a) | 100,000 | 98,119 |
| 3.30%, 02/01/25 (a) | 25,000 | 24,491 |
| 2.80%, 10/01/26 (a) | 150,000 | 140,745 |
| Kite Realty Group LP | ||
| 4.00%, 10/01/26 (a) | 100,000 | 96,028 |
| LifeStorage LP/CA | ||
| 3.50%, 07/01/26 (a) | 100,000 | 95,735 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Mid-America Apartments LP | ||
| 4.30%, 10/15/23 (a) | 40,000 | 40,245 |
| 3.75%, 06/15/24 (a) | 100,000 | 99,702 |
| 1.10%, 09/15/26 (a) | 175,000 | 153,872 |
| National Retail Properties, Inc. | ||
| 3.90%, 06/15/24 (a) | 155,000 | 154,743 |
| 4.00%, 11/15/25 (a) | 100,000 | 99,663 |
| Office Properties Income Trust | ||
| 4.25%, 05/15/24 (a) | 75,000 | 72,981 |
| 4.50%, 02/01/25 (a) | 100,000 | 95,919 |
| 2.65%, 06/15/26 (a) | 50,000 | 42,561 |
| 2.40%, 02/01/27 (a) | 75,000 | 61,319 |
| Omega Healthcare Investors, Inc. | ||
| 4.38%, 08/01/23 (a) | 45,000 | 45,097 |
| 4.95%, 04/01/24 (a) | 75,000 | 75,310 |
| 4.50%, 01/15/25 (a) | 75,000 | 74,254 |
| 5.25%, 01/15/26 (a) | 125,000 | 123,902 |
| 4.50%, 04/01/27 (a) | 125,000 | 119,025 |
| Physicians Realty LP | ||
| 4.30%, 03/15/27 (a) | 100,000 | 98,204 |
| Piedmont Operating Partnership LP | ||
| 4.45%, 03/15/24 (a) | 75,000 | 75,477 |
| Prologis LP | ||
| 3.25%, 10/01/26 (a) | 75,000 | 73,021 |
| Public Storage | ||
| 0.88%, 02/15/26 (a) | 100,000 | 89,384 |
| 1.50%, 11/09/26 (a) | 100,000 | 90,394 |
| Realty Income Corp. | ||
| 4.60%, 02/06/24 (a) | 50,000 | 50,481 |
| 3.88%, 07/15/24 (a) | 75,000 | 75,076 |
| 4.63%, 11/01/25 (a) | 150,000 | 152,205 |
| 0.75%, 03/15/26 (a) | 75,000 | 66,135 |
| 4.88%, 06/01/26 (a) | 75,000 | 76,554 |
| 4.13%, 10/15/26 (a) | 125,000 | 124,524 |
| 3.00%, 01/15/27 (a) | 150,000 | 142,294 |
| Regency Centers LP | ||
| 3.60%, 02/01/27 (a) | 100,000 | 97,043 |
| Sabra Health Care LP | ||
| 5.13%, 08/15/26 (a) | 100,000 | 97,242 |
| Simon Property Group LP | ||
| 3.75%, 02/01/24 (a) | 125,000 | 124,842 |
| 2.00%, 09/13/24 (a) | 150,000 | 143,653 |
| 3.38%, 10/01/24 (a) | 100,000 | 99,099 |
| 3.50%, 09/01/25 (a) | 225,000 | 219,928 |
| 3.30%, 01/15/26 (a) | 200,000 | 193,604 |
| 3.25%, 11/30/26 (a) | 150,000 | 143,394 |
| 1.38%, 01/15/27 (a) | 75,000 | 65,732 |
| SITE Centers Corp. | ||
| 3.63%, 02/01/25 (a) | 100,000 | 97,298 |
| 4.25%, 02/01/26 (a) | 100,000 | 98,142 |
| Spirit Realty LP | ||
| 3.20%, 01/15/27 (a) | 100,000 | 92,049 |
| Ventas Realty LP | ||
| 3.50%, 04/15/24 (a) | 100,000 | 99,018 |
| 3.75%, 05/01/24 (a) | 35,000 | 34,800 |
| 2.65%, 01/15/25 (a) | 160,000 | 153,288 |
| 4.13%, 01/15/26 (a) | 150,000 | 148,492 |
| 3.25%, 10/15/26 (a) | 100,000 | 94,612 |
| Vornado Realty LP | ||
| 3.50%, 01/15/25 (a) | 50,000 | 48,534 |
| 2.15%, 06/01/26 (a) | 50,000 | 44,572 |
| Welltower, Inc. | ||
| 4.50%, 01/15/24 (a) | 25,000 | 25,182 |
| 3.63%, 03/15/24 (a) | 180,000 | 178,666 |
119
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.00%, 06/01/25 (a) | 225,000 | 223,814 |
| 4.25%, 04/01/26 (a) | 150,000 | 148,686 |
| 2.70%, 02/15/27 (a) | 75,000 | 69,416 |
| WP Carey, Inc. | ||
| 4.60%, 04/01/24 (a) | 100,000 | 100,679 |
| 4.00%, 02/01/25 (a) | 75,000 | 74,791 |
| 4.25%, 10/01/26 (a) | 50,000 | 49,543 |
| 9,713,005 | ||
| 166,371,985 | ||
| Industrial 48.1% | ||
| Basic Industry 1.5% | ||
| Air Products and Chemicals, Inc. | ||
| 3.35%, 07/31/24 (a) | 75,000 | 74,855 |
| 1.50%, 10/15/25 (a) | 100,000 | 94,251 |
| 1.85%, 05/15/27 (a) | 100,000 | 91,202 |
| ArcelorMittal S.A. | ||
| 4.55%, 03/11/26 | 75,000 | 74,027 |
| Braskem Finance Ltd. | ||
| 6.45%, 02/03/24 | 200,000 | 206,064 |
| Celanese US Holdings LLC | ||
| 3.50%, 05/08/24 (a) | 150,000 | 148,140 |
| Celulosa Arauco y Constitucion S.A. | ||
| 4.50%, 08/01/24 (a) | 200,000 | 199,336 |
| DuPont de Nemours, Inc. | ||
| 4.21%, 11/15/23 (a) | 425,000 | 427,652 |
| 4.49%, 11/15/25 (a) | 350,000 | 352,681 |
| Eastman Chemical Co. | ||
| 3.80%, 03/15/25 (a) | 150,000 | 148,350 |
| Ecolab, Inc. | ||
| 0.90%, 12/15/23 (a) | 50,000 | 48,575 |
| 2.70%, 11/01/26 (a) | 150,000 | 144,124 |
| EI du Pont de Nemours and Co. | ||
| 1.70%, 07/15/25 (a) | 100,000 | 93,907 |
| Fibria Overseas Finance Ltd. | ||
| 4.00%, 01/14/25 (a) | 50,000 | 49,643 |
| FMC Corp. | ||
| 3.20%, 10/01/26 (a) | 125,000 | 119,106 |
| Freeport-McMoRan, Inc. | ||
| 4.55%, 11/14/24 (a) | 125,000 | 124,635 |
| Georgia-Pacific LLC | ||
| 8.00%, 01/15/24 | 90,000 | 95,475 |
| Kinross Gold Corp. | ||
| 5.95%, 03/15/24 (a) | 100,000 | 102,421 |
| Linde, Inc. | ||
| 2.65%, 02/05/25 (a) | 15,000 | 14,761 |
| 3.20%, 01/30/26 (a) | 125,000 | 124,529 |
| LYB International Finance BV | ||
| 4.00%, 07/15/23 | 63,000 | 62,936 |
| LYB International Finance III LLC | ||
| 1.25%, 10/01/25 (a) | 75,000 | 67,970 |
| LyondellBasell Industries NV | ||
| 5.75%, 04/15/24 (a) | 200,000 | 204,668 |
| Mosaic Co. | ||
| 4.25%, 11/15/23 (a) | 150,000 | 151,069 |
| Nucor Corp. | ||
| 2.00%, 06/01/25 (a) | 100,000 | 94,350 |
| 4.30%, 05/23/27 (a) | 150,000 | 149,596 |
| Nutrien Ltd. | ||
| 3.00%, 04/01/25 (a) | 100,000 | 97,731 |
| 4.00%, 12/15/26 (a) | 75,000 | 74,951 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Packaging Corp. of America | ||
| 3.65%, 09/15/24 (a) | 75,000 | 74,540 |
| PPG Industries, Inc. | ||
| 2.40%, 08/15/24 (a) | 50,000 | 48,701 |
| 1.20%, 03/15/26 (a) | 150,000 | 134,573 |
| Reliance Steel & Aluminum Co. | ||
| 1.30%, 08/15/25 (a) | 75,000 | 68,313 |
| RPM International, Inc. | ||
| 3.75%, 03/15/27 (a) | 100,000 | 96,125 |
| Sherwin-Williams Co. | ||
| 3.13%, 06/01/24 (a) | 100,000 | 99,277 |
| 3.45%, 08/01/25 (a) | 75,000 | 73,907 |
| 3.95%, 01/15/26 (a) | 75,000 | 74,569 |
| 3.45%, 06/01/27 (a) | 250,000 | 238,805 |
| Southern Copper Corp. | ||
| 3.88%, 04/23/25 | 100,000 | 99,106 |
| Steel Dynamics, Inc. | ||
| 2.80%, 12/15/24 (a) | 75,000 | 72,824 |
| 2.40%, 06/15/25 (a) | 75,000 | 71,060 |
| 5.00%, 12/15/26 (a) | 50,000 | 49,541 |
| Vale Overseas Ltd. | ||
| 6.25%, 08/10/26 | 275,000 | 287,499 |
| Westlake Chemical Corp. | ||
| 3.60%, 08/15/26 (a) | 175,000 | 170,553 |
| WRKCo, Inc. | ||
| 3.75%, 03/15/25 (a) | 150,000 | 148,585 |
| 4.65%, 03/15/26 (a) | 150,000 | 150,973 |
| 5,595,956 | ||
| Capital Goods 5.2% | ||
| 3M Co. | ||
| 3.25%, 02/14/24 (a) | 150,000 | 150,211 |
| 2.00%, 02/14/25 (a) | 120,000 | 115,614 |
| 2.65%, 04/15/25 (a) | 150,000 | 146,577 |
| 3.00%, 08/07/25 | 150,000 | 147,757 |
| Allegion US Holding Co., Inc. | ||
| 3.20%, 10/01/24 (a) | 100,000 | 97,332 |
| Amcor Finance USA, Inc. | ||
| 3.63%, 04/28/26 (a) | 125,000 | 120,198 |
| Amphenol Corp. | ||
| 3.20%, 04/01/24 (a) | 25,000 | 24,805 |
| 2.05%, 03/01/25 (a) | 100,000 | 95,306 |
| Berry Global, Inc. | ||
| 0.95%, 02/15/24 (a) | 150,000 | 142,144 |
| 1.57%, 01/15/26 (a) | 250,000 | 223,310 |
| 1.65%, 01/15/27 (a) | 75,000 | 65,551 |
| Boeing Co. | ||
| 1.95%, 02/01/24 | 75,000 | 72,482 |
| 1.43%, 02/04/24 (a) | 450,000 | 430,713 |
| 2.80%, 03/01/24 (a) | 125,000 | 122,684 |
| 2.85%, 10/30/24 (a) | 100,000 | 97,373 |
| 4.88%, 05/01/25 (a) | 600,000 | 597,948 |
| 2.60%, 10/30/25 (a) | 50,000 | 46,774 |
| 2.75%, 02/01/26 (a) | 275,000 | 255,568 |
| 2.20%, 02/04/26 (a) | 975,000 | 880,337 |
| 3.10%, 05/01/26 (a) | 125,000 | 117,020 |
| 2.25%, 06/15/26 (a) | 75,000 | 67,735 |
| 2.70%, 02/01/27 (a) | 175,000 | 155,799 |
| 2.80%, 03/01/27 (a) | 50,000 | 44,881 |
| 5.04%, 05/01/27 (a) | 325,000 | 321,197 |
| Carlisle Cos., Inc. | ||
| 3.50%, 12/01/24 (a) | 129,000 | 127,470 |
120
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Carrier Global Corp. | ||
| 2.24%, 02/15/25 (a) | 355,000 | 337,335 |
| 2.49%, 02/15/27 (a) | 50,000 | 45,696 |
| Caterpillar Financial Services Corp. | ||
| 0.65%, 07/07/23 | 75,000 | 73,160 |
| 0.45%, 09/14/23 | 150,000 | 145,600 |
| 3.75%, 11/24/23 | 170,000 | 171,538 |
| 3.65%, 12/07/23 | 150,000 | 151,147 |
| 2.85%, 05/17/24 | 175,000 | 173,533 |
| 3.30%, 06/09/24 | 215,000 | 215,041 |
| 2.15%, 11/08/24 | 125,000 | 121,420 |
| 3.25%, 12/01/24 | 250,000 | 249,922 |
| 3.40%, 05/13/25 | 225,000 | 224,752 |
| 0.80%, 11/13/25 | 250,000 | 227,387 |
| 0.90%, 03/02/26 | 200,000 | 181,922 |
| 1.15%, 09/14/26 | 150,000 | 135,359 |
| 1.70%, 01/08/27 | 100,000 | 91,743 |
| Caterpillar, Inc. | ||
| 3.40%, 05/15/24 (a) | 125,000 | 125,476 |
| CNH Industrial Capital LLC | ||
| 1.95%, 07/02/23 | 125,000 | 122,176 |
| 4.20%, 01/15/24 | 100,000 | 100,071 |
| 1.88%, 01/15/26 (a) | 150,000 | 136,233 |
| CNH Industrial NV | ||
| 4.50%, 08/15/23 | 125,000 | 126,175 |
| Deere & Co. | ||
| 2.75%, 04/15/25 (a) | 50,000 | 48,953 |
| Dover Corp. | ||
| 3.15%, 11/15/25 (a) | 75,000 | 73,797 |
| Emerson Electric Co. | ||
| 3.15%, 06/01/25 (a) | 100,000 | 98,991 |
| 0.88%, 10/15/26 (a) | 150,000 | 132,831 |
| Fortive Corp. | ||
| 3.15%, 06/15/26 (a) | 175,000 | 165,839 |
| Fortune Brands Home & Security, Inc. | ||
| 4.00%, 09/21/23 (a) | 100,000 | 100,387 |
| 4.00%, 06/15/25 (a) | 100,000 | 98,800 |
| GE Capital International Funding Co. | ||
| 3.37%, 11/15/25 | 50,000 | 48,772 |
| General Dynamics Corp. | ||
| 2.38%, 11/15/24 (a) | 100,000 | 97,454 |
| 3.25%, 04/01/25 (a) | 150,000 | 148,885 |
| 3.50%, 05/15/25 (a) | 100,000 | 99,796 |
| 1.15%, 06/01/26 (a) | 125,000 | 113,385 |
| 2.13%, 08/15/26 (a) | 100,000 | 93,947 |
| 3.50%, 04/01/27 (a) | 125,000 | 122,990 |
| Honeywell International, Inc. | ||
| 2.30%, 08/15/24 (a) | 175,000 | 171,906 |
| 1.35%, 06/01/25 (a) | 175,000 | 165,093 |
| 2.50%, 11/01/26 (a) | 325,000 | 310,739 |
| Hubbell, Inc. | ||
| 3.35%, 03/01/26 (a) | 75,000 | 73,067 |
| Huntington Ingalls Industries, Inc. | ||
| 0.67%, 08/16/23 (a) | 75,000 | 72,327 |
| 3.84%, 05/01/25 (a) | 125,000 | 122,238 |
| Illinois Tool Works, Inc. | ||
| 3.50%, 03/01/24 (a) | 120,000 | 120,521 |
| 2.65%, 11/15/26 (a) | 200,000 | 191,286 |
| John Deere Capital Corp. | ||
| 0.40%, 10/10/23 | 150,000 | 145,215 |
| 3.65%, 10/12/23 | 120,000 | 120,984 |
| 3.45%, 01/10/24 | 50,000 | 50,191 |
| 0.45%, 01/17/24 | 250,000 | 240,002 |
| 2.60%, 03/07/24 | 180,000 | 178,177 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.45%, 06/07/24 | 125,000 | 118,618 |
| 2.65%, 06/24/24 | 170,000 | 168,431 |
| 0.63%, 09/10/24 | 150,000 | 141,830 |
| 2.05%, 01/09/25 | 20,000 | 19,380 |
| 2.13%, 03/07/25 | 50,000 | 48,335 |
| 3.45%, 03/13/25 | 100,000 | 100,236 |
| 3.40%, 09/11/25 | 125,000 | 124,705 |
| 0.70%, 01/15/26 | 50,000 | 45,238 |
| 2.65%, 06/10/26 | 100,000 | 96,372 |
| 1.05%, 06/17/26 | 200,000 | 181,228 |
| 1.30%, 10/13/26 | 50,000 | 45,398 |
| 1.70%, 01/11/27 | 150,000 | 137,037 |
| 2.35%, 03/08/27 | 100,000 | 93,931 |
| 1.75%, 03/09/27 | 100,000 | 91,319 |
| Johnson Controls International plc | ||
| 3.90%, 02/14/26 (a) | 150,000 | 149,367 |
| L3Harris Technologies, Inc. | ||
| 3.95%, 05/28/24 (a) | 85,000 | 85,395 |
| 3.83%, 04/27/25 (a) | 125,000 | 123,718 |
| 3.85%, 12/15/26 (a) | 50,000 | 49,095 |
| Leggett & Platt, Inc. | ||
| 3.80%, 11/15/24 (a) | 75,000 | 74,477 |
| Legrand France S.A. | ||
| 8.50%, 02/15/25 | 70,000 | 77,502 |
| Lennox International, Inc. | ||
| 1.35%, 08/01/25 (a) | 100,000 | 91,779 |
| Lockheed Martin Corp. | ||
| 3.55%, 01/15/26 (a) | 200,000 | 200,376 |
| Martin Marietta Materials, Inc. | ||
| 4.25%, 07/02/24 (a) | 150,000 | 150,898 |
| Northrop Grumman Corp. | ||
| 3.25%, 08/01/23 | 175,000 | 175,007 |
| 2.93%, 01/15/25 (a) | 225,000 | 220,372 |
| 3.20%, 02/01/27 (a) | 150,000 | 144,256 |
| Otis Worldwide Corp. | ||
| 2.06%, 04/05/25 (a) | 250,000 | 236,777 |
| Owens Corning | ||
| 4.20%, 12/01/24 (a) | 125,000 | 124,876 |
| Parker-Hannifin Corp. | ||
| 2.70%, 06/14/24 (a) | 150,000 | 146,703 |
| 3.25%, 03/01/27 (a) | 175,000 | 167,239 |
| Precision Castparts Corp. | ||
| 3.25%, 06/15/25 (a) | 100,000 | 99,681 |
| Raytheon Technologies Corp. | ||
| 3.70%, 12/15/23 (a) | 50,000 | 50,226 |
| 3.20%, 03/15/24 (a) | 100,000 | 99,795 |
| 3.95%, 08/16/25 (a) | 250,000 | 251,165 |
| 2.65%, 11/01/26 (a) | 150,000 | 143,512 |
| 3.50%, 03/15/27 (a) | 200,000 | 195,524 |
| 3.13%, 05/04/27 (a) | 150,000 | 143,659 |
| Republic Services, Inc. | ||
| 2.50%, 08/15/24 (a) | 170,000 | 164,859 |
| 3.20%, 03/15/25 (a) | 130,000 | 127,932 |
| 0.88%, 11/15/25 (a) | 100,000 | 90,356 |
| Rockwell Automation, Inc. | ||
| 0.35%, 08/15/23 (a) | 125,000 | 121,345 |
| 2.88%, 03/01/25 (a) | 50,000 | 49,057 |
| Roper Technologies, Inc. | ||
| 3.65%, 09/15/23 (a) | 125,000 | 125,190 |
| 2.35%, 09/15/24 (a) | 75,000 | 72,802 |
| 1.00%, 09/15/25 (a) | 125,000 | 113,093 |
| 3.85%, 12/15/25 (a) | 75,000 | 74,579 |
| 3.80%, 12/15/26 (a) | 125,000 | 122,445 |
121
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Sonoco Products Co. | ||
| 2.25%, 02/01/27 (a) | 125,000 | 112,821 |
| Stanley Black & Decker, Inc. | ||
| 3.40%, 03/01/26 (a) | 125,000 | 123,076 |
| 4.00%, 03/15/60 (a)(b) | 150,000 | 131,055 |
| Teledyne Technologies, Inc. | ||
| 0.95%, 04/01/24 (a) | 125,000 | 118,363 |
| 1.60%, 04/01/26 (a) | 50,000 | 44,903 |
| Textron, Inc. | ||
| 4.30%, 03/01/24 (a) | 10,000 | 10,052 |
| 3.88%, 03/01/25 (a) | 75,000 | 74,672 |
| 4.00%, 03/15/26 (a) | 100,000 | 98,972 |
| Timken Co. | ||
| 3.88%, 09/01/24 (a) | 75,000 | 74,403 |
| Trane Technologies Luxembourg Finance S.A. | ||
| 3.55%, 11/01/24 (a) | 150,000 | 148,251 |
| Vontier Corp. | ||
| 1.80%, 04/01/26 (a) | 100,000 | 87,768 |
| Vulcan Materials Co. | ||
| 4.50%, 04/01/25 (a) | 75,000 | 76,184 |
| 3.90%, 04/01/27 (a) | 100,000 | 98,611 |
| Waste Management, Inc. | ||
| 3.13%, 03/01/25 (a) | 75,000 | 74,258 |
| 0.75%, 11/15/25 (a) | 75,000 | 68,382 |
| Westinghouse Air Brake Technologies Corp. | ||
| 4.40%, 03/15/24 (a)(g) | 150,000 | 149,757 |
| 3.20%, 06/15/25 (a) | 100,000 | 95,522 |
| 3.45%, 11/15/26 (a) | 125,000 | 114,899 |
| WW Grainger, Inc. | ||
| 1.85%, 02/15/25 (a) | 90,000 | 85,802 |
| Xylem, Inc. | ||
| 3.25%, 11/01/26 (a) | 100,000 | 96,789 |
| 18,788,700 | ||
| Communications 4.8% | ||
| Activision Blizzard, Inc. | ||
| 3.40%, 09/15/26 (a) | 150,000 | 147,635 |
| American Tower Corp. | ||
| 0.60%, 01/15/24 | 75,000 | 71,183 |
| 5.00%, 02/15/24 | 200,000 | 202,556 |
| 3.38%, 05/15/24 (a) | 100,000 | 98,559 |
| 2.95%, 01/15/25 (a) | 150,000 | 144,902 |
| 2.40%, 03/15/25 (a) | 175,000 | 165,452 |
| 1.30%, 09/15/25 (a) | 200,000 | 181,082 |
| 1.60%, 04/15/26 (a) | 200,000 | 179,338 |
| 1.45%, 09/15/26 (a) | 100,000 | 87,605 |
| 3.38%, 10/15/26 (a) | 200,000 | 189,280 |
| 2.75%, 01/15/27 (a) | 200,000 | 182,942 |
| AT&T, Inc. | ||
| 0.90%, 03/25/24 (a) | 400,000 | 382,296 |
| 1.70%, 03/25/26 (a) | 650,000 | 594,672 |
| 3.80%, 02/15/27 (a) | 100,000 | 98,247 |
| 4.25%, 03/01/27 (a) | 200,000 | 199,758 |
| 2.30%, 06/01/27 (a) | 450,000 | 411,124 |
| Bell Canada | ||
| 0.75%, 03/17/24 | 100,000 | 95,319 |
| British Telecommunications PLC | ||
| 4.50%, 12/04/23 (a) | 200,000 | 201,142 |
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||
| 4.50%, 02/01/24 (a) | 185,000 | 186,251 |
| 4.91%, 07/23/25 (a) | 775,000 | 777,278 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Comcast Corp. | ||
| 3.70%, 04/15/24 (a) | 400,000 | 401,288 |
| 3.38%, 02/15/25 (a) | 175,000 | 173,796 |
| 3.38%, 08/15/25 (a) | 150,000 | 148,311 |
| 3.95%, 10/15/25 (a) | 550,000 | 552,948 |
| 3.15%, 03/01/26 (a) | 450,000 | 439,101 |
| 2.35%, 01/15/27 (a) | 250,000 | 233,347 |
| 3.30%, 02/01/27 (a) | 250,000 | 243,210 |
| Crown Castle International Corp. | ||
| 3.20%, 09/01/24 (a) | 150,000 | 146,973 |
| 1.35%, 07/15/25 (a) | 100,000 | 91,423 |
| 4.45%, 02/15/26 (a) | 200,000 | 198,290 |
| 3.70%, 06/15/26 (a) | 50,000 | 48,332 |
| 1.05%, 07/15/26 (a) | 250,000 | 216,972 |
| 4.00%, 03/01/27 (a) | 100,000 | 97,149 |
| 2.90%, 03/15/27 (a) | 150,000 | 138,918 |
| Discovery Communications LLC | ||
| 3.80%, 03/13/24 (a) | 100,000 | 99,524 |
| 3.90%, 11/15/24 (a) | 75,000 | 73,900 |
| 3.95%, 06/15/25 (a) | 100,000 | 97,863 |
| 4.90%, 03/11/26 (a) | 125,000 | 125,343 |
| Electronic Arts, Inc. | ||
| 4.80%, 03/01/26 (a) | 75,000 | 76,745 |
| Fox Corp. | ||
| 4.03%, 01/25/24 (a) | 200,000 | 200,032 |
| 3.05%, 04/07/25 (a) | 120,000 | 116,380 |
| Grupo Televisa S.A.B. | ||
| 6.63%, 03/18/25 | 100,000 | 105,600 |
| Magallanes, Inc. | ||
| 3.43%, 03/15/24 (d) | 200,000 | 196,084 |
| 3.53%, 03/15/24 (a)(d) | 100,000 | 98,029 |
| 3.64%, 03/15/25 (d) | 300,000 | 291,282 |
| 3.76%, 03/15/27 (a)(d) | 700,000 | 657,167 |
| Omnicom Group, Inc./Omnicom Capital, Inc. | ||
| 3.65%, 11/01/24 (a) | 150,000 | 148,894 |
| 3.60%, 04/15/26 (a) | 250,000 | 243,275 |
| Rogers Communications, Inc. | ||
| 4.10%, 10/01/23 (a) | 200,000 | 201,100 |
| 3.63%, 12/15/25 (a) | 100,000 | 97,974 |
| 2.90%, 11/15/26 (a) | 125,000 | 118,235 |
| 3.20%, 03/15/27 (a)(d) | 250,000 | 237,402 |
| Take-Two Interactive Software, Inc. | ||
| 3.30%, 03/28/24 | 200,000 | 197,550 |
| 3.70%, 04/14/27 (a) | 150,000 | 145,701 |
| TCI Communications, Inc. | ||
| 7.88%, 02/15/26 | 50,000 | 56,241 |
| Telefonica Emisiones S.A. | ||
| 4.10%, 03/08/27 | 250,000 | 245,105 |
| T-Mobile USA, Inc. | ||
| 3.50%, 04/15/25 (a) | 525,000 | 514,269 |
| 1.50%, 02/15/26 (a) | 125,000 | 113,176 |
| 3.75%, 04/15/27 (a) | 675,000 | 649,559 |
| TWDC Enterprises 18 Corp. | ||
| 3.15%, 09/17/25 | 200,000 | 196,976 |
| 3.00%, 02/13/26 | 250,000 | 243,395 |
| 1.85%, 07/30/26 | 200,000 | 184,966 |
| Verizon Communications, Inc. | ||
| 0.75%, 03/22/24 | 150,000 | 143,108 |
| 3.50%, 11/01/24 (a) | 175,000 | 174,811 |
| 3.38%, 02/15/25 | 275,000 | 273,325 |
| 0.85%, 11/20/25 (a) | 150,000 | 136,106 |
| 1.45%, 03/20/26 (a) | 400,000 | 366,412 |
| 2.63%, 08/15/26 | 325,000 | 307,430 |
| 4.13%, 03/16/27 | 450,000 | 449,185 |
| 3.00%, 03/22/27 (a) | 200,000 | 190,240 |
122
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| ViacomCBS, Inc. | ||
| 4.75%, 05/15/25 (a) | 133,000 | 134,436 |
| 4.00%, 01/15/26 (a) | 175,000 | 171,187 |
| Vodafone Group PLC | ||
| 3.75%, 01/16/24 | 155,000 | 155,761 |
| 4.13%, 05/30/25 | 275,000 | 276,196 |
| Walt Disney Co. | ||
| 1.75%, 08/30/24 (a) | 100,000 | 96,380 |
| 3.70%, 09/15/24 (a) | 150,000 | 150,327 |
| 3.35%, 03/24/25 | 350,000 | 347,410 |
| 3.70%, 10/15/25 (a) | 100,000 | 100,065 |
| 1.75%, 01/13/26 | 150,000 | 139,901 |
| 3.38%, 11/15/26 (a) | 100,000 | 97,872 |
| 3.70%, 03/23/27 | 100,000 | 99,047 |
| Weibo Corp. | ||
| 3.50%, 07/05/24 (a) | 200,000 | 194,776 |
| WPP Finance 2010 | ||
| 3.75%, 09/19/24 | 145,000 | 141,836 |
| 17,604,257 | ||
| Consumer Cyclical 7.3% | ||
| Alibaba Group Holding Ltd. | ||
| 3.60%, 11/28/24 (a) | 300,000 | 298,320 |
| Amazon.com, Inc. | ||
| 0.45%, 05/12/24 | 400,000 | 380,872 |
| 2.80%, 08/22/24 (a) | 350,000 | 347,042 |
| 3.80%, 12/05/24 (a) | 225,000 | 227,844 |
| 3.00%, 04/13/25 | 250,000 | 248,447 |
| 0.80%, 06/03/25 (a) | 225,000 | 209,446 |
| 5.20%, 12/03/25 (a) | 75,000 | 78,780 |
| 1.00%, 05/12/26 (a) | 550,000 | 500,571 |
| 3.30%, 04/13/27 (a) | 450,000 | 441,823 |
| 1.20%, 06/03/27 (a) | 175,000 | 155,871 |
| American Honda Finance Corp. | ||
| 0.88%, 07/07/23 | 250,000 | 243,945 |
| 3.45%, 07/14/23 | 125,000 | 125,126 |
| 0.65%, 09/08/23 | 150,000 | 145,565 |
| 3.63%, 10/10/23 | 150,000 | 150,499 |
| 3.55%, 01/12/24 | 100,000 | 100,191 |
| 2.90%, 02/16/24 | 150,000 | 148,655 |
| 2.40%, 06/27/24 | 100,000 | 97,825 |
| 0.55%, 07/12/24 | 250,000 | 235,327 |
| 2.15%, 09/10/24 | 130,000 | 126,029 |
| 1.20%, 07/08/25 | 25,000 | 23,102 |
| 1.00%, 09/10/25 | 150,000 | 136,805 |
| 1.30%, 09/09/26 | 225,000 | 203,211 |
| 2.30%, 09/09/26 | 125,000 | 117,030 |
| 2.35%, 01/08/27 | 150,000 | 139,773 |
| Aptiv PLC | ||
| 2.40%, 02/18/25 (a) | 125,000 | 119,521 |
| AutoNation, Inc. | ||
| 3.50%, 11/15/24 (a) | 165,000 | 160,025 |
| AutoZone, Inc. | ||
| 3.13%, 04/18/24 (a) | 100,000 | 98,965 |
| 3.25%, 04/15/25 (a) | 15,000 | 14,716 |
| 3.63%, 04/15/25 (a) | 115,000 | 113,722 |
| 3.13%, 04/21/26 (a) | 100,000 | 96,418 |
| 3.75%, 06/01/27 (a) | 100,000 | 97,081 |
| Block Financial LLC | ||
| 5.25%, 10/01/25 (a) | 75,000 | 76,277 |
| Booking Holdings, Inc. | ||
| 3.65%, 03/15/25 (a) | 125,000 | 125,366 |
| 3.60%, 06/01/26 (a) | 100,000 | 98,695 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| BorgWarner, Inc. | ||
| 3.38%, 03/15/25 (a) | 110,000 | 107,979 |
| CBRE Services, Inc. | ||
| 4.88%, 03/01/26 (a) | 125,000 | 126,479 |
| Costco Wholesale Corp. | ||
| 2.75%, 05/18/24 (a) | 205,000 | 203,659 |
| 1.38%, 06/20/27 (a) | 250,000 | 224,515 |
| Cummins, Inc. | ||
| 3.65%, 10/01/23 (a) | 15,000 | 15,078 |
| 0.75%, 09/01/25 (a) | 150,000 | 137,324 |
| Darden Restaurants, Inc. | ||
| 3.85%, 05/01/27 (a) | 100,000 | 96,315 |
| Dollar General Corp. | ||
| 4.15%, 11/01/25 (a) | 75,000 | 75,190 |
| 3.88%, 04/15/27 (a) | 125,000 | 122,778 |
| Dollar Tree, Inc. | ||
| 4.00%, 05/15/25 (a) | 175,000 | 174,508 |
| DR Horton, Inc. | ||
| 5.75%, 08/15/23 (a) | 65,000 | 66,260 |
| 2.50%, 10/15/24 (a) | 100,000 | 95,631 |
| 2.60%, 10/15/25 (a) | 90,000 | 84,806 |
| 1.30%, 10/15/26 (a) | 100,000 | 86,446 |
| eBay, Inc. | ||
| 3.45%, 08/01/24 (a) | 145,000 | 143,695 |
| 1.90%, 03/11/25 (a) | 150,000 | 141,143 |
| 1.40%, 05/10/26 (a) | 125,000 | 112,524 |
| 3.60%, 06/05/27 (a) | 150,000 | 144,366 |
| Expedia Group, Inc. | ||
| 5.00%, 02/15/26 (a) | 125,000 | 125,150 |
| General Motors Co. | ||
| 4.88%, 10/02/23 | 200,000 | 201,936 |
| 4.00%, 04/01/25 | 130,000 | 128,422 |
| 6.13%, 10/01/25 (a) | 250,000 | 258,600 |
| General Motors Financial Co., Inc. | ||
| 1.70%, 08/18/23 | 250,000 | 244,065 |
| 5.10%, 01/17/24 (a) | 300,000 | 303,153 |
| 1.05%, 03/08/24 | 150,000 | 142,170 |
| 3.95%, 04/13/24 (a) | 70,000 | 69,465 |
| 1.20%, 10/15/24 | 150,000 | 139,586 |
| 3.50%, 11/07/24 (a) | 150,000 | 146,723 |
| 4.00%, 01/15/25 (a) | 200,000 | 197,424 |
| 2.90%, 02/26/25 (a) | 225,000 | 214,909 |
| 3.80%, 04/07/25 | 200,000 | 195,298 |
| 4.35%, 04/09/25 (a) | 225,000 | 222,565 |
| 2.75%, 06/20/25 (a) | 250,000 | 235,732 |
| 4.30%, 07/13/25 (a) | 175,000 | 172,366 |
| 1.25%, 01/08/26 (a) | 175,000 | 153,883 |
| 5.25%, 03/01/26 (a) | 225,000 | 225,481 |
| 1.50%, 06/10/26 (a) | 225,000 | 196,886 |
| 4.00%, 10/06/26 (a) | 125,000 | 119,493 |
| 4.35%, 01/17/27 (a) | 225,000 | 216,151 |
| 2.35%, 02/26/27 (a) | 150,000 | 132,260 |
| 5.00%, 04/09/27 (a) | 150,000 | 147,162 |
| Genuine Parts Co. | ||
| 1.75%, 02/01/25 (a) | 100,000 | 94,425 |
| GLP Capital LP/GLP Financing II, Inc. | ||
| 5.38%, 11/01/23 (a) | 95,000 | 95,067 |
| 3.35%, 09/01/24 (a) | 65,000 | 62,590 |
| 5.25%, 06/01/25 (a) | 150,000 | 147,500 |
| 5.38%, 04/15/26 (a) | 175,000 | 171,453 |
| Harley-Davidson, Inc. | ||
| 3.50%, 07/28/25 (a) | 100,000 | 97,086 |
| Harman International Industries, Inc. | ||
| 4.15%, 05/15/25 (a) | 75,000 | 75,159 |
123
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Home Depot, Inc. | ||
| 3.75%, 02/15/24 (a) | 40,000 | 40,363 |
| 3.35%, 09/15/25 (a) | 225,000 | 223,729 |
| 3.00%, 04/01/26 (a) | 200,000 | 196,442 |
| 2.13%, 09/15/26 (a) | 250,000 | 236,767 |
| 2.50%, 04/15/27 (a) | 250,000 | 236,877 |
| Honda Motor Co., Ltd. | ||
| 2.53%, 03/10/27 (a) | 200,000 | 187,444 |
| Hyatt Hotels Corp. | ||
| 3.38%, 07/15/23 (a) | 100,000 | 97,904 |
| 1.80%, 10/01/24 (a) | 175,000 | 165,931 |
| 5.63%, 04/23/25 (a) | 90,000 | 91,469 |
| 4.85%, 03/15/26 (a) | 75,000 | 74,842 |
| JD.com, Inc. | ||
| 3.88%, 04/29/26 | 200,000 | 196,092 |
| Kohl's Corp. | ||
| 4.25%, 07/17/25 (a) | 75,000 | 74,062 |
| Lennar Corp. | ||
| 4.88%, 12/15/23 (a) | 75,000 | 75,757 |
| 4.50%, 04/30/24 (a) | 125,000 | 124,930 |
| 5.88%, 11/15/24 (a) | 75,000 | 77,044 |
| 4.75%, 05/30/25 (a) | 75,000 | 75,334 |
| 5.25%, 06/01/26 (a) | 50,000 | 50,542 |
| 5.00%, 06/15/27 (a) | 50,000 | 49,614 |
| Lowe's Cos., Inc. | ||
| 3.88%, 09/15/23 (a) | 100,000 | 100,600 |
| 3.13%, 09/15/24 (a) | 125,000 | 123,316 |
| 4.00%, 04/15/25 (a) | 75,000 | 75,456 |
| 3.38%, 09/15/25 (a) | 100,000 | 98,339 |
| 2.50%, 04/15/26 (a) | 250,000 | 236,847 |
| 3.35%, 04/01/27 (a) | 150,000 | 144,519 |
| 3.10%, 05/03/27 (a) | 250,000 | 237,747 |
| Magna International, Inc. | ||
| 3.63%, 06/15/24 (a) | 175,000 | 174,291 |
| 4.15%, 10/01/25 (a) | 100,000 | 100,443 |
| Marriott International, Inc. | ||
| 4.15%, 12/01/23 (a) | 75,000 | 75,354 |
| 3.60%, 04/15/24 (a) | 115,000 | 114,048 |
| 5.75%, 05/01/25 (a) | 150,000 | 155,715 |
| 3.75%, 10/01/25 (a) | 150,000 | 147,404 |
| McDonald's Corp. | ||
| 3.38%, 05/26/25 (a) | 50,000 | 49,587 |
| 3.30%, 07/01/25 (a) | 225,000 | 223,254 |
| 1.45%, 09/01/25 (a) | 50,000 | 46,629 |
| 3.70%, 01/30/26 (a) | 350,000 | 350,115 |
| 3.50%, 03/01/27 (a) | 150,000 | 147,014 |
| NIKE, Inc. | ||
| 2.40%, 03/27/25 (a) | 80,000 | 78,118 |
| 2.38%, 11/01/26 (a) | 200,000 | 190,488 |
| 2.75%, 03/27/27 (a) | 150,000 | 144,401 |
| O'Reilly Automotive, Inc. | ||
| 3.55%, 03/15/26 (a) | 100,000 | 98,152 |
| PACCAR Financial Corp. | ||
| 3.40%, 08/09/23 | 75,000 | 75,131 |
| 0.35%, 08/11/23 | 100,000 | 96,934 |
| 0.35%, 02/02/24 | 100,000 | 95,448 |
| 2.15%, 08/15/24 | 125,000 | 121,858 |
| 1.80%, 02/06/25 | 10,000 | 9,569 |
| 1.10%, 05/11/26 | 50,000 | 45,292 |
| 2.00%, 02/04/27 | 100,000 | 92,609 |
| PulteGroup, Inc. | ||
| 5.50%, 03/01/26 (a) | 150,000 | 152,755 |
| PVH Corp. | ||
| 4.63%, 07/10/25 (a)(d) | 100,000 | 100,030 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Ralph Lauren Corp. | ||
| 3.75%, 09/15/25 (a) | 100,000 | 99,722 |
| Ross Stores, Inc. | ||
| 4.60%, 04/15/25 (a) | 145,000 | 146,843 |
| 0.88%, 04/15/26 (a) | 50,000 | 44,330 |
| Starbucks Corp. | ||
| 3.85%, 10/01/23 (a) | 150,000 | 151,213 |
| 3.80%, 08/15/25 (a) | 325,000 | 324,291 |
| Tapestry, Inc. | ||
| 4.25%, 04/01/25 (a) | 75,000 | 74,956 |
| Target Corp. | ||
| 3.50%, 07/01/24 | 190,000 | 190,644 |
| 2.25%, 04/15/25 (a) | 300,000 | 289,992 |
| 2.50%, 04/15/26 | 275,000 | 264,132 |
| TJX Cos., Inc. | ||
| 2.25%, 09/15/26 (a) | 200,000 | 187,910 |
| Toll Brothers Finance Corp. | ||
| 4.88%, 11/15/25 (a) | 75,000 | 73,889 |
| 4.88%, 03/15/27 (a) | 75,000 | 71,389 |
| Toyota Motor Corp. | ||
| 3.42%, 07/20/23 | 200,000 | 200,916 |
| 0.68%, 03/25/24 (a) | 250,000 | 238,677 |
| 1.34%, 03/25/26 (a) | 200,000 | 182,322 |
| Toyota Motor Credit Corp. | ||
| 0.50%, 08/14/23 | 350,000 | 339,832 |
| 1.35%, 08/25/23 | 150,000 | 146,981 |
| 3.45%, 09/20/23 | 150,000 | 150,702 |
| 3.35%, 01/08/24 | 125,000 | 125,181 |
| 0.45%, 01/11/24 | 200,000 | 191,654 |
| 2.90%, 04/17/24 | 100,000 | 99,111 |
| 0.63%, 09/13/24 | 300,000 | 282,048 |
| 2.00%, 10/07/24 | 75,000 | 72,575 |
| 1.45%, 01/13/25 | 100,000 | 94,870 |
| 1.80%, 02/13/25 | 225,000 | 214,850 |
| 3.00%, 04/01/25 | 250,000 | 246,005 |
| 3.40%, 04/14/25 | 100,000 | 99,334 |
| 0.80%, 10/16/25 | 225,000 | 204,910 |
| 0.80%, 01/09/26 | 150,000 | 135,723 |
| 1.13%, 06/18/26 | 250,000 | 225,945 |
| 1.90%, 01/13/27 | 150,000 | 137,841 |
| 3.05%, 03/22/27 | 250,000 | 240,172 |
| VF Corp. | ||
| 2.40%, 04/23/25 (a) | 150,000 | 144,216 |
| VICI Properties LP | ||
| 4.38%, 05/15/25 | 75,000 | 73,524 |
| Walgreens Boots Alliance, Inc. | ||
| 0.95%, 11/17/23 (a) | 150,000 | 144,980 |
| 3.80%, 11/18/24 (a) | 215,000 | 213,951 |
| 3.45%, 06/01/26 (a) | 250,000 | 243,300 |
| Walmart, Inc. | ||
| 3.30%, 04/22/24 (a) | 225,000 | 225,819 |
| 2.85%, 07/08/24 (a) | 200,000 | 199,062 |
| 2.65%, 12/15/24 (a) | 115,000 | 113,809 |
| 3.55%, 06/26/25 (a) | 200,000 | 202,018 |
| 3.05%, 07/08/26 (a) | 50,000 | 49,627 |
| 1.05%, 09/17/26 (a) | 300,000 | 273,519 |
| 26,583,132 | ||
| Consumer Non-Cyclical 11.7% | ||
| Abbott Laboratories | ||
| 3.40%, 11/30/23 (a) | 175,000 | 175,801 |
| 2.95%, 03/15/25 (a) | 150,000 | 148,152 |
| 3.88%, 09/15/25 (a) | 25,000 | 25,308 |
| 3.75%, 11/30/26 (a) | 325,000 | 327,655 |
124
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| AbbVie, Inc. | ||
| 3.75%, 11/14/23 (a) | 225,000 | 225,931 |
| 3.85%, 06/15/24 (a) | 150,000 | 150,018 |
| 2.60%, 11/21/24 (a) | 625,000 | 605,694 |
| 3.80%, 03/15/25 (a) | 475,000 | 471,865 |
| 3.60%, 05/14/25 (a) | 625,000 | 617,062 |
| 3.20%, 05/14/26 (a) | 350,000 | 337,141 |
| 2.95%, 11/21/26 (a) | 675,000 | 640,096 |
| Agilent Technologies, Inc. | ||
| 3.05%, 09/22/26 (a) | 75,000 | 71,684 |
| Altria Group, Inc. | ||
| 4.00%, 01/31/24 | 140,000 | 140,414 |
| 3.80%, 02/14/24 (a)(h) | 75,000 | 74,830 |
| 2.35%, 05/06/25 (a) | 130,000 | 122,686 |
| 4.40%, 02/14/26 (a) | 100,000 | 97,920 |
| 2.63%, 09/16/26 (a) | 125,000 | 114,591 |
| AmerisourceBergen Corp. | ||
| 3.40%, 05/15/24 (a) | 125,000 | 124,013 |
| 3.25%, 03/01/25 (a) | 20,000 | 19,590 |
| Amgen, Inc. | ||
| 2.25%, 08/19/23 (a) | 50,000 | 49,458 |
| 3.63%, 05/22/24 (a) | 250,000 | 249,680 |
| 1.90%, 02/21/25 (a) | 120,000 | 114,719 |
| 3.13%, 05/01/25 (a) | 200,000 | 196,564 |
| 2.60%, 08/19/26 (a) | 225,000 | 213,151 |
| 2.20%, 02/21/27 (a) | 250,000 | 229,940 |
| Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide, Inc. | ||
| 3.65%, 02/01/26 (a) | 550,000 | 541,887 |
| Archer-Daniels-Midland Co. | ||
| 2.50%, 08/11/26 (a) | 200,000 | 191,660 |
| Astrazeneca Finance LLC | ||
| 0.70%, 05/28/24 (a) | 275,000 | 261,011 |
| 1.20%, 05/28/26 (a) | 225,000 | 203,474 |
| AstraZeneca PLC | ||
| 3.50%, 08/17/23 (a) | 75,000 | 75,286 |
| 3.38%, 11/16/25 | 350,000 | 346,752 |
| 0.70%, 04/08/26 (a) | 200,000 | 178,316 |
| BAT Capital Corp. | ||
| 3.22%, 08/15/24 (a) | 425,000 | 413,890 |
| 2.79%, 09/06/24 (a) | 175,000 | 169,092 |
| 3.22%, 09/06/26 (a) | 200,000 | 186,840 |
| 4.70%, 04/02/27 (a) | 100,000 | 97,786 |
| BAT International Finance PLC | ||
| 1.67%, 03/25/26 (a) | 275,000 | 244,062 |
| Baxalta, Inc. | ||
| 4.00%, 06/23/25 (a) | 150,000 | 148,947 |
| Baxter International, Inc. | ||
| 0.87%, 12/01/23 | 200,000 | 192,060 |
| 1.32%, 11/29/24 | 100,000 | 93,955 |
| 2.60%, 08/15/26 (a) | 200,000 | 187,534 |
| 1.92%, 02/01/27 (a) | 250,000 | 224,102 |
| Becton Dickinson & Co. | ||
| 3.36%, 06/06/24 (a) | 200,000 | 198,002 |
| 3.73%, 12/15/24 (a) | 145,000 | 144,303 |
| 3.70%, 06/06/27 (a) | 275,000 | 266,277 |
| Biogen, Inc. | ||
| 4.05%, 09/15/25 (a) | 300,000 | 297,192 |
| Bio-Rad Laboratories, Inc. | ||
| 3.30%, 03/15/27 (a) | 100,000 | 94,541 |
| Boston Scientific Corp. | ||
| 3.45%, 03/01/24 (a) | 77,000 | 76,898 |
| 1.90%, 06/01/25 (a) | 100,000 | 94,456 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Bristol-Myers Squibb Co. | ||
| 3.25%, 11/01/23 | 125,000 | 125,306 |
| 0.54%, 11/13/23 (a) | 150,000 | 145,054 |
| 3.63%, 05/15/24 (a) | 75,000 | 75,422 |
| 2.90%, 07/26/24 (a) | 425,000 | 421,366 |
| 0.75%, 11/13/25 (a) | 200,000 | 182,464 |
| 3.20%, 06/15/26 (a) | 325,000 | 321,035 |
| Brown-Forman Corp. | ||
| 3.50%, 04/15/25 (a) | 75,000 | 75,073 |
| Brunswick Corp. | ||
| 0.85%, 08/18/24 (a) | 75,000 | 69,314 |
| Bunge Ltd. Finance Corp. | ||
| 1.63%, 08/17/25 (a) | 100,000 | 92,185 |
| 3.25%, 08/15/26 (a) | 150,000 | 142,776 |
| Campbell Soup Co. | ||
| 3.95%, 03/15/25 (a) | 150,000 | 149,767 |
| 3.30%, 03/19/25 (a) | 75,000 | 73,928 |
| Cardinal Health, Inc. | ||
| 3.08%, 06/15/24 (a) | 125,000 | 123,084 |
| 3.50%, 11/15/24 (a) | 70,000 | 69,447 |
| 3.75%, 09/15/25 (a) | 100,000 | 98,937 |
| 3.41%, 06/15/27 (a) | 150,000 | 144,379 |
| Cigna Corp. | ||
| 3.75%, 07/15/23 (a) | 217,000 | 217,286 |
| 0.61%, 03/15/24 (a) | 100,000 | 95,269 |
| 3.50%, 06/15/24 (a) | 125,000 | 124,436 |
| 3.25%, 04/15/25 (a) | 25,000 | 24,534 |
| 4.13%, 11/15/25 (a) | 375,000 | 376,245 |
| 4.50%, 02/25/26 (a) | 225,000 | 228,170 |
| 1.25%, 03/15/26 (a) | 100,000 | 90,310 |
| 3.40%, 03/01/27 (a) | 250,000 | 240,445 |
| Coca-Cola Co. | ||
| 1.75%, 09/06/24 | 200,000 | 195,464 |
| 3.38%, 03/25/27 | 200,000 | 198,300 |
| 1.45%, 06/01/27 | 250,000 | 226,437 |
| Colgate-Palmolive Co. | ||
| 3.25%, 03/15/24 | 100,000 | 100,175 |
| CommonSpirit Health | ||
| 1.55%, 10/01/25 (a) | 225,000 | 206,586 |
| Conagra Brands, Inc. | ||
| 4.30%, 05/01/24 (a) | 75,000 | 75,320 |
| 4.60%, 11/01/25 (a) | 250,000 | 251,405 |
| Constellation Brands, Inc. | ||
| 4.75%, 11/15/24 | 75,000 | 76,121 |
| 4.40%, 11/15/25 (a) | 100,000 | 100,639 |
| 4.75%, 12/01/25 | 50,000 | 50,882 |
| 3.70%, 12/06/26 (a) | 100,000 | 97,525 |
| 3.50%, 05/09/27 (a) | 100,000 | 96,127 |
| 4.35%, 05/09/27 (a) | 100,000 | 99,440 |
| CVS Health Corp. | ||
| 4.00%, 12/05/23 (a) | 75,000 | 75,446 |
| 3.38%, 08/12/24 (a) | 125,000 | 124,506 |
| 2.63%, 08/15/24 (a) | 190,000 | 185,942 |
| 4.10%, 03/25/25 (a) | 175,000 | 176,337 |
| 3.88%, 07/20/25 (a) | 500,000 | 498,120 |
| 2.88%, 06/01/26 (a) | 300,000 | 286,125 |
| 3.00%, 08/15/26 (a) | 50,000 | 47,923 |
| 3.63%, 04/01/27 (a) | 150,000 | 146,190 |
| Danaher Corp. | ||
| 3.35%, 09/15/25 (a) | 50,000 | 49,319 |
| DH Europe Finance II Sarl | ||
| 2.20%, 11/15/24 (a) | 155,000 | 148,964 |
125
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Diageo Capital PLC | ||
| 2.13%, 10/24/24 (a) | 200,000 | 193,268 |
| 1.38%, 09/29/25 (a) | 200,000 | 186,798 |
| Eli Lilly & Co. | ||
| 2.75%, 06/01/25 (a) | 100,000 | 98,509 |
| 5.50%, 03/15/27 | 100,000 | 107,708 |
| 3.10%, 05/15/27 (a) | 75,000 | 73,108 |
| Estee Lauder Cos., Inc. | ||
| 2.00%, 12/01/24 (a) | 100,000 | 97,033 |
| General Mills, Inc. | ||
| 3.65%, 02/15/24 (a) | 125,000 | 125,871 |
| 4.00%, 04/17/25 (a) | 100,000 | 100,040 |
| 3.20%, 02/10/27 (a) | 150,000 | 144,241 |
| Gilead Sciences, Inc. | ||
| 2.50%, 09/01/23 (a) | 125,000 | 123,828 |
| 0.75%, 09/29/23 (a) | 263,000 | 254,671 |
| 3.70%, 04/01/24 (a) | 295,000 | 295,481 |
| 3.50%, 02/01/25 (a) | 300,000 | 296,874 |
| 3.65%, 03/01/26 (a) | 475,000 | 468,046 |
| 2.95%, 03/01/27 (a) | 150,000 | 142,113 |
| GlaxoSmithKline Capital PLC | ||
| 0.53%, 10/01/23 (a) | 225,000 | 217,548 |
| 3.00%, 06/01/24 (a) | 175,000 | 173,652 |
| GlaxoSmithKline Capital, Inc. | ||
| 3.63%, 05/15/25 | 175,000 | 175,623 |
| GSK Consumer Healthcare Capital UK PLC | ||
| 3.13%, 03/24/25 (d) | 250,000 | 243,972 |
| GSK Consumer Healthcare Capital US LLC | ||
| 3.02%, 03/24/24 (a)(d) | 250,000 | 246,602 |
| 3.38%, 03/24/27 (a)(d) | 300,000 | 287,169 |
| Hasbro, Inc. | ||
| 3.00%, 11/19/24 (a) | 100,000 | 97,480 |
| 3.55%, 11/19/26 (a) | 125,000 | 119,526 |
| HCA, Inc. | ||
| 5.00%, 03/15/24 | 350,000 | 351,662 |
| 5.38%, 02/01/25 | 450,000 | 449,379 |
| 5.25%, 04/15/25 | 225,000 | 225,661 |
| 5.88%, 02/15/26 (a) | 300,000 | 302,199 |
| 5.25%, 06/15/26 (a) | 275,000 | 273,773 |
| 5.38%, 09/01/26 (a) | 150,000 | 148,842 |
| 4.50%, 02/15/27 (a) | 150,000 | 144,423 |
| 3.13%, 03/15/27 (a)(d) | 200,000 | 182,918 |
| Hershey Co. | ||
| 2.05%, 11/15/24 (a) | 150,000 | 145,941 |
| 2.30%, 08/15/26 (a) | 100,000 | 95,075 |
| Hormel Foods Corp. | ||
| 0.65%, 06/03/24 (a) | 200,000 | 190,632 |
| JM Smucker Co. | ||
| 3.50%, 03/15/25 | 200,000 | 197,474 |
| Johnson & Johnson | ||
| 3.38%, 12/05/23 | 75,000 | 75,503 |
| 2.63%, 01/15/25 (a) | 145,000 | 143,376 |
| 0.55%, 09/01/25 (a) | 175,000 | 161,569 |
| 2.45%, 03/01/26 (a) | 375,000 | 364,702 |
| 2.95%, 03/03/27 (a) | 175,000 | 171,208 |
| Kaiser Foundation Hospitals | ||
| 3.15%, 05/01/27 (a) | 100,000 | 97,352 |
| Kellogg Co. | ||
| 2.65%, 12/01/23 | 125,000 | 123,885 |
| 3.25%, 04/01/26 | 100,000 | 97,320 |
| Keurig Dr Pepper, Inc. | ||
| 3.13%, 12/15/23 (a) | 100,000 | 99,821 |
| 0.75%, 03/15/24 (a) | 200,000 | 190,620 |
| 4.42%, 05/25/25 (a) | 100,000 | 100,980 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.40%, 11/15/25 (a) | 100,000 | 97,802 |
| 2.55%, 09/15/26 (a) | 75,000 | 69,913 |
| Kimberly-Clark Corp. | ||
| 3.05%, 08/15/25 | 75,000 | 73,942 |
| 2.75%, 02/15/26 | 100,000 | 97,351 |
| Kraft Heinz Foods Co. | ||
| 3.00%, 06/01/26 (a) | 350,000 | 330,872 |
| 3.88%, 05/15/27 (a) | 225,000 | 217,836 |
| Kroger Co. | ||
| 3.85%, 08/01/23 (a) | 125,000 | 125,584 |
| 4.00%, 02/01/24 (a) | 110,000 | 110,666 |
| 3.50%, 02/01/26 (a) | 50,000 | 49,258 |
| 2.65%, 10/15/26 (a) | 150,000 | 140,642 |
| Laboratory Corp. of America Holdings | ||
| 4.00%, 11/01/23 (a) | 75,000 | 75,410 |
| 3.25%, 09/01/24 (a) | 100,000 | 98,582 |
| 2.30%, 12/01/24 (a) | 50,000 | 47,904 |
| 3.60%, 02/01/25 (a) | 200,000 | 197,222 |
| 1.55%, 06/01/26 (a) | 50,000 | 44,812 |
| McCormick & Co., Inc. | ||
| 3.15%, 08/15/24 (a) | 125,000 | 122,715 |
| 0.90%, 02/15/26 (a) | 100,000 | 88,782 |
| McKesson Corp. | ||
| 3.80%, 03/15/24 (a) | 175,000 | 175,464 |
| 0.90%, 12/03/25 (a) | 50,000 | 45,064 |
| 1.30%, 08/15/26 (a) | 100,000 | 89,169 |
| Mead Johnson Nutrition Co. | ||
| 4.13%, 11/15/25 (a) | 150,000 | 151,087 |
| Merck & Co., Inc. | ||
| 2.90%, 03/07/24 (a) | 145,000 | 144,314 |
| 2.75%, 02/10/25 (a) | 420,000 | 414,704 |
| 0.75%, 02/24/26 (a) | 175,000 | 158,779 |
| 1.70%, 06/10/27 (a) | 150,000 | 136,433 |
| Molson Coors Beverage Co. | ||
| 3.00%, 07/15/26 (a) | 350,000 | 329,602 |
| Mondelez International, Inc. | ||
| 1.50%, 05/04/25 (a) | 175,000 | 163,583 |
| 2.63%, 03/17/27 (a) | 150,000 | 140,483 |
| Mylan, Inc. | ||
| 4.20%, 11/29/23 (a) | 100,000 | 99,772 |
| Novartis Capital Corp. | ||
| 3.40%, 05/06/24 | 400,000 | 401,996 |
| 1.75%, 02/14/25 (a) | 35,000 | 33,793 |
| 3.00%, 11/20/25 (a) | 325,000 | 320,840 |
| 2.00%, 02/14/27 (a) | 325,000 | 302,721 |
| PeaceHealth Obligated Group | ||
| 1.38%, 11/15/25 (a) | 75,000 | 69,188 |
| PepsiCo, Inc. | ||
| 0.40%, 10/07/23 | 150,000 | 145,548 |
| 3.60%, 03/01/24 (a) | 225,000 | 226,483 |
| 2.25%, 03/19/25 (a) | 275,000 | 267,913 |
| 2.75%, 04/30/25 (a) | 225,000 | 221,742 |
| 3.50%, 07/17/25 (a) | 100,000 | 100,502 |
| 2.85%, 02/24/26 (a) | 125,000 | 122,888 |
| 2.38%, 10/06/26 (a) | 125,000 | 120,138 |
| PerkinElmer, Inc. | ||
| 0.55%, 09/15/23 (a) | 100,000 | 96,372 |
| 0.85%, 09/15/24 (a) | 150,000 | 139,289 |
| Pfizer, Inc. | ||
| 3.20%, 09/15/23 (a) | 200,000 | 200,614 |
| 2.95%, 03/15/24 (a) | 150,000 | 149,392 |
| 3.40%, 05/15/24 | 100,000 | 100,598 |
| 0.80%, 05/28/25 (a) | 150,000 | 140,004 |
126
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.75%, 06/03/26 | 250,000 | 243,782 |
| 3.00%, 12/15/26 | 250,000 | 244,675 |
| Philip Morris International, Inc. | ||
| 3.60%, 11/15/23 | 100,000 | 100,516 |
| 2.88%, 05/01/24 (a) | 65,000 | 64,277 |
| 3.25%, 11/10/24 | 130,000 | 128,466 |
| 1.50%, 05/01/25 (a) | 125,000 | 117,104 |
| 3.38%, 08/11/25 (a) | 75,000 | 73,887 |
| 2.75%, 02/25/26 (a) | 150,000 | 143,393 |
| 0.88%, 05/01/26 (a) | 150,000 | 132,947 |
| Procter & Gamble Co. | ||
| 3.10%, 08/15/23 | 100,000 | 100,623 |
| 0.55%, 10/29/25 | 225,000 | 207,245 |
| 2.70%, 02/02/26 | 100,000 | 98,362 |
| 1.00%, 04/23/26 | 150,000 | 138,018 |
| 2.45%, 11/03/26 | 200,000 | 192,596 |
| 2.80%, 03/25/27 | 100,000 | 96,851 |
| Quest Diagnostics, Inc. | ||
| 4.25%, 04/01/24 (a) | 50,000 | 50,304 |
| 3.50%, 03/30/25 (a) | 200,000 | 196,894 |
| 3.45%, 06/01/26 (a) | 100,000 | 97,495 |
| Reynolds American, Inc. | ||
| 4.85%, 09/15/23 | 105,000 | 106,062 |
| 4.45%, 06/12/25 (a) | 375,000 | 373,691 |
| Royalty Pharma PLC | ||
| 0.75%, 09/02/23 | 175,000 | 168,539 |
| 1.20%, 09/02/25 (a) | 175,000 | 156,830 |
| Shire Acquisitions Investments Ireland DAC | ||
| 2.88%, 09/23/23 (a) | 170,000 | 168,186 |
| 3.20%, 09/23/26 (a) | 525,000 | 504,241 |
| Stryker Corp. | ||
| 0.60%, 12/01/23 (a) | 100,000 | 95,943 |
| 3.38%, 05/15/24 (a) | 100,000 | 99,513 |
| 1.15%, 06/15/25 (a) | 125,000 | 115,549 |
| 3.38%, 11/01/25 (a) | 125,000 | 122,570 |
| 3.50%, 03/15/26 (a) | 175,000 | 171,782 |
| Sutter Health | ||
| 1.32%, 08/15/25 (a) | 75,000 | 69,380 |
| Sysco Corp. | ||
| 3.75%, 10/01/25 (a) | 125,000 | 124,704 |
| 3.30%, 07/15/26 (a) | 200,000 | 193,692 |
| Takeda Pharmaceutical Co., Ltd. | ||
| 4.40%, 11/26/23 (a) | 200,000 | 201,528 |
| The Procter & Gamble Co. | ||
| 1.90%, 02/01/27 | 150,000 | 141,179 |
| Thermo Fisher Scientific, Inc. | ||
| 0.80%, 10/18/23 (a) | 200,000 | 194,128 |
| 1.22%, 10/18/24 (a) | 500,000 | 474,375 |
| Tyson Foods, Inc. | ||
| 3.90%, 09/28/23 (a) | 50,000 | 50,176 |
| 3.95%, 08/15/24 (a) | 250,000 | 249,802 |
| 4.00%, 03/01/26 (a) | 150,000 | 148,959 |
| 3.55%, 06/02/27 (a) | 200,000 | 191,820 |
| Unilever Capital Corp. | ||
| 0.38%, 09/14/23 | 100,000 | 96,870 |
| 3.25%, 03/07/24 (a) | 100,000 | 100,122 |
| 2.60%, 05/05/24 (a) | 150,000 | 147,855 |
| 3.38%, 03/22/25 (a) | 150,000 | 149,707 |
| 2.00%, 07/28/26 | 150,000 | 141,372 |
| 2.90%, 05/05/27 (a) | 175,000 | 168,175 |
| Universal Health Services, Inc. | ||
| 1.65%, 09/01/26 (a)(d) | 125,000 | 108,460 |
| UPMC | ||
| 3.60%, 04/03/25 | 160,000 | 159,010 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Utah Acquisition Sub, Inc. | ||
| 3.95%, 06/15/26 (a) | 375,000 | 353,861 |
| Viatris, Inc. | ||
| 1.65%, 06/22/25 (a) | 125,000 | 113,409 |
| 2.30%, 06/22/27 (a) | 150,000 | 128,882 |
| Whirlpool Corp. | ||
| 4.00%, 03/01/24 | 10,000 | 10,076 |
| 3.70%, 05/01/25 | 100,000 | 99,890 |
| Wyeth LLC | ||
| 6.45%, 02/01/24 | 150,000 | 157,015 |
| Zimmer Biomet Holdings, Inc. | ||
| 3.55%, 04/01/25 (a) | 325,000 | 320,957 |
| Zoetis, Inc. | ||
| 4.50%, 11/13/25 (a) | 100,000 | 101,561 |
| 42,400,361 | ||
| Energy 6.0% | ||
| Baker Hughes Holdings LLC | ||
| 2.06%, 12/15/26 (a) | 150,000 | 137,954 |
| Boardwalk Pipelines LP | ||
| 4.95%, 12/15/24 (a) | 75,000 | 75,633 |
| 5.95%, 06/01/26 (a) | 100,000 | 103,759 |
| BP Capital Markets America, Inc. | ||
| 3.79%, 02/06/24 (a) | 190,000 | 190,963 |
| 3.19%, 04/06/25 (a) | 130,000 | 128,522 |
| 3.80%, 09/21/25 (a) | 175,000 | 175,560 |
| 3.41%, 02/11/26 (a) | 100,000 | 98,185 |
| 3.12%, 05/04/26 (a) | 150,000 | 145,278 |
| 3.02%, 01/16/27 (a) | 175,000 | 167,073 |
| 3.54%, 04/06/27 (a) | 100,000 | 97,429 |
| 3.59%, 04/14/27 (a) | 100,000 | 97,585 |
| Canadian Natural Resources Ltd. | ||
| 3.80%, 04/15/24 (a) | 100,000 | 99,393 |
| 3.90%, 02/01/25 (a) | 100,000 | 99,163 |
| 2.05%, 07/15/25 (a) | 125,000 | 117,126 |
| 3.85%, 06/01/27 (a) | 150,000 | 144,140 |
| Cenovus Energy, Inc. | ||
| 5.38%, 07/15/25 (a) | 150,000 | 154,646 |
| 4.25%, 04/15/27 (a) | 150,000 | 147,410 |
| Cheniere Corpus Christi Holdings LLC | ||
| 7.00%, 06/30/24 (a) | 225,000 | 233,444 |
| 5.88%, 03/31/25 (a) | 250,000 | 256,155 |
| 5.13%, 06/30/27 (a) | 300,000 | 301,383 |
| Chevron Corp. | ||
| 2.90%, 03/03/24 (a) | 200,000 | 199,462 |
| 1.55%, 05/11/25 (a) | 450,000 | 426,829 |
| 3.33%, 11/17/25 (a) | 150,000 | 149,480 |
| 2.95%, 05/16/26 (a) | 400,000 | 390,980 |
| 2.00%, 05/11/27 (a) | 100,000 | 92,236 |
| Chevron USA, Inc. | ||
| 0.43%, 08/11/23 | 100,000 | 97,310 |
| 3.90%, 11/15/24 (a) | 95,000 | 95,990 |
| 0.69%, 08/12/25 (a) | 100,000 | 92,079 |
| Columbia Pipeline Group, Inc. | ||
| 4.50%, 06/01/25 (a) | 175,000 | 176,783 |
| ConocoPhillips Co. | ||
| 2.40%, 03/07/25 (a) | 175,000 | 169,001 |
| Continental Resources, Inc. | ||
| 3.80%, 06/01/24 (a) | 175,000 | 173,477 |
| Coterra Energy, Inc. | ||
| 4.38%, 06/01/24 (a)(d) | 150,000 | 150,033 |
127
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Devon Energy Corp. | ||
| 5.25%, 09/15/24 (a)(d) | 100,000 | 102,163 |
| 5.85%, 12/15/25 (a) | 100,000 | 104,338 |
| Diamondback Energy, Inc. | ||
| 3.25%, 12/01/26 (a) | 100,000 | 97,706 |
| Eastern Energy Gas Holdings LLC | ||
| 3.55%, 11/01/23 (a) | 75,000 | 74,938 |
| 2.50%, 11/15/24 (a) | 95,000 | 91,847 |
| 3.60%, 12/15/24 (a) | 61,000 | 60,578 |
| Enable Midstream Partners LP | ||
| 3.90%, 05/15/24 (a) | 100,000 | 98,989 |
| Enbridge Energy Partners LP | ||
| 5.88%, 10/15/25 (a) | 75,000 | 78,503 |
| Enbridge, Inc. | ||
| 4.00%, 10/01/23 (a) | 150,000 | 150,441 |
| 3.50%, 06/10/24 (a) | 150,000 | 148,515 |
| 2.50%, 01/15/25 (a) | 25,000 | 24,068 |
| 1.60%, 10/04/26 (a) | 175,000 | 156,093 |
| 4.25%, 12/01/26 (a) | 200,000 | 198,096 |
| Energy Transfer LP | ||
| 3.90%, 07/15/26 (a) | 100,000 | 96,355 |
| Energy Transfer Operating LP | ||
| 4.20%, 09/15/23 (a) | 100,000 | 100,150 |
| 5.88%, 01/15/24 (a) | 200,000 | 203,928 |
| 4.90%, 02/01/24 (a) | 70,000 | 70,613 |
| 4.50%, 04/15/24 (a) | 120,000 | 120,158 |
| 4.05%, 03/15/25 (a) | 175,000 | 172,568 |
| 2.90%, 05/15/25 (a) | 175,000 | 166,642 |
| 4.75%, 01/15/26 (a) | 150,000 | 149,759 |
| 4.40%, 03/15/27 (a) | 150,000 | 144,986 |
| 4.20%, 04/15/27 (a) | 100,000 | 96,288 |
| 5.50%, 06/01/27 (a) | 200,000 | 203,200 |
| Energy Transfer Partners LP/Regency Energy Finance Corp. | ||
| 4.50%, 11/01/23 (a) | 50,000 | 50,250 |
| Enterprise Products Operating LLC | ||
| 3.90%, 02/15/24 (a) | 175,000 | 174,870 |
| 3.75%, 02/15/25 (a) | 185,000 | 183,268 |
| 3.70%, 02/15/26 (a) | 200,000 | 196,876 |
| EOG Resources, Inc. | ||
| 3.15%, 04/01/25 (a) | 125,000 | 123,095 |
| 4.15%, 01/15/26 (a) | 100,000 | 100,943 |
| EQT Corp. | ||
| 6.63%, 02/01/25 (a)(g) | 175,000 | 180,500 |
| Exxon Mobil Corp. | ||
| 3.18%, 03/15/24 (a) | 165,000 | 165,193 |
| 2.02%, 08/16/24 (a) | 130,000 | 126,958 |
| 2.71%, 03/06/25 (a) | 300,000 | 294,072 |
| 2.99%, 03/19/25 (a) | 455,000 | 448,707 |
| 3.04%, 03/01/26 (a) | 400,000 | 392,892 |
| 2.28%, 08/16/26 (a) | 200,000 | 190,054 |
| 3.29%, 03/19/27 (a) | 175,000 | 172,410 |
| Halliburton Co. | ||
| 3.50%, 08/01/23 (a) | 110,000 | 110,162 |
| 3.80%, 11/15/25 (a) | 95,000 | 94,210 |
| Hess Corp. | ||
| 3.50%, 07/15/24 (a) | 75,000 | 73,884 |
| 4.30%, 04/01/27 (a) | 200,000 | 195,300 |
| HF Sinclair Corp. | ||
| 2.63%, 10/01/23 (d) | 25,000 | 24,309 |
| 5.88%, 04/01/26 (a)(d) | 150,000 | 151,674 |
| Kinder Morgan Energy Partners LP | ||
| 3.50%, 09/01/23 (a) | 125,000 | 124,684 |
| 4.15%, 02/01/24 (a) | 150,000 | 150,093 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.30%, 05/01/24 (a) | 100,000 | 100,222 |
| 4.25%, 09/01/24 (a) | 50,000 | 50,069 |
| Kinder Morgan, Inc. | ||
| 4.30%, 06/01/25 (a) | 325,000 | 324,148 |
| 1.75%, 11/15/26 (a) | 75,000 | 66,575 |
| Magellan Midstream Partners LP | ||
| 5.00%, 03/01/26 (a) | 150,000 | 153,237 |
| Marathon Petroleum Corp. | ||
| 3.63%, 09/15/24 (a) | 150,000 | 148,743 |
| 4.70%, 05/01/25 (a) | 225,000 | 228,064 |
| 5.13%, 12/15/26 (a) | 100,000 | 102,662 |
| MPLX LP | ||
| 4.50%, 07/15/23 (a) | 185,000 | 185,475 |
| 4.88%, 12/01/24 (a) | 225,000 | 226,813 |
| 4.00%, 02/15/25 (a) | 20,000 | 19,737 |
| 4.88%, 06/01/25 (a) | 200,000 | 201,220 |
| 1.75%, 03/01/26 (a) | 275,000 | 248,185 |
| 4.13%, 03/01/27 (a) | 200,000 | 193,660 |
| National Fuel Gas Co. | ||
| 5.20%, 07/15/25 (a) | 125,000 | 126,574 |
| 5.50%, 01/15/26 (a) | 50,000 | 50,220 |
| Northwest Pipeline LLC | ||
| 4.00%, 04/01/27 (a) | 100,000 | 97,942 |
| ONEOK Partners LP | ||
| 5.00%, 09/15/23 (a) | 75,000 | 75,816 |
| 4.90%, 03/15/25 (a) | 100,000 | 100,963 |
| ONEOK, Inc. | ||
| 7.50%, 09/01/23 (a) | 15,000 | 15,514 |
| 2.75%, 09/01/24 (a) | 95,000 | 92,041 |
| 2.20%, 09/15/25 (a) | 75,000 | 70,001 |
| 5.85%, 01/15/26 (a) | 120,000 | 124,478 |
| Ovintiv Exploration, Inc. | ||
| 5.38%, 01/01/26 (a) | 125,000 | 126,660 |
| Phillips 66 | ||
| 3.85%, 04/09/25 (a) | 175,000 | 174,254 |
| 1.30%, 02/15/26 (a) | 50,000 | 45,089 |
| Phillips 66 Co. | ||
| 3.55%, 10/01/26 (a) | 100,000 | 97,418 |
| Phillips 66 Partners LP | ||
| 3.61%, 02/15/25 (a)(d) | 70,000 | 69,271 |
| Pioneer Natural Resources Co. | ||
| 1.13%, 01/15/26 (a) | 200,000 | 178,970 |
| Plains All American Pipeline LP/PAA Finance Corp. | ||
| 3.85%, 10/15/23 (a) | 130,000 | 129,507 |
| 3.60%, 11/01/24 (a) | 155,000 | 151,895 |
| 4.65%, 10/15/25 (a) | 175,000 | 173,887 |
| 4.50%, 12/15/26 (a) | 100,000 | 98,323 |
| Sabine Pass Liquefaction LLC | ||
| 5.75%, 05/15/24 (a) | 250,000 | 255,180 |
| 5.63%, 03/01/25 (a) | 350,000 | 357,836 |
| 5.88%, 06/30/26 (a) | 250,000 | 258,335 |
| 5.00%, 03/15/27 (a) | 250,000 | 251,305 |
| Schlumberger Finance Canada Ltd. | ||
| 1.40%, 09/17/25 (a) | 50,000 | 46,582 |
| Schlumberger Investment S.A. | ||
| 3.65%, 12/01/23 (a) | 290,000 | 291,317 |
| Shell International Finance BV | ||
| 0.38%, 09/15/23 | 175,000 | 169,554 |
| 3.50%, 11/13/23 (a) | 175,000 | 176,188 |
| 2.00%, 11/07/24 (a) | 175,000 | 170,163 |
| 3.25%, 05/11/25 | 475,000 | 470,521 |
| 2.88%, 05/10/26 | 300,000 | 290,499 |
| 2.50%, 09/12/26 | 175,000 | 166,416 |
128
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Spectra Energy Partners LP | ||
| 4.75%, 03/15/24 (a) | 250,000 | 252,287 |
| 3.50%, 03/15/25 (a) | 125,000 | 122,595 |
| Sunoco Logistics Partners Operations LP | ||
| 4.25%, 04/01/24 (a) | 15,000 | 14,967 |
| 5.95%, 12/01/25 (a) | 75,000 | 77,788 |
| TC PipeLines LP | ||
| 3.90%, 05/25/27 (a) | 100,000 | 98,295 |
| TotalEnergies Capital Canada Ltd. | ||
| 2.75%, 07/15/23 | 175,000 | 173,771 |
| TotalEnergies Capital International S.A. | ||
| 3.70%, 01/15/24 | 195,000 | 195,604 |
| 3.75%, 04/10/24 | 225,000 | 225,810 |
| 2.43%, 01/10/25 (a) | 100,000 | 97,261 |
| TransCanada PipeLines Ltd. | ||
| 3.75%, 10/16/23 (a) | 200,000 | 200,232 |
| 4.88%, 01/15/26 (a) | 200,000 | 203,288 |
| Transcontinental Gas Pipe Line Co. LLC | ||
| 7.85%, 02/01/26 (a) | 75,000 | 82,845 |
| Valero Energy Corp. | ||
| 2.85%, 04/15/25 (a) | 58,000 | 56,105 |
| 3.40%, 09/15/26 (a) | 125,000 | 120,596 |
| Williams Cos., Inc. | ||
| 4.50%, 11/15/23 (a) | 100,000 | 100,729 |
| 4.30%, 03/04/24 (a) | 200,000 | 200,954 |
| 4.55%, 06/24/24 (a) | 219,000 | 221,107 |
| 3.90%, 01/15/25 (a) | 175,000 | 173,099 |
| 4.00%, 09/15/25 (a) | 150,000 | 148,025 |
| 3.75%, 06/15/27 (a) | 200,000 | 191,446 |
| 21,928,120 | ||
| Industrial Other 0.1% | ||
| Cintas Corp. No. 2 | ||
| 3.70%, 04/01/27 (a) | 225,000 | 222,424 |
| Yale University | ||
| 0.87%, 04/15/25 (a) | 100,000 | 94,001 |
| 316,425 | ||
| Technology 10.0% | ||
| Adobe, Inc. | ||
| 1.90%, 02/01/25 (a) | 70,000 | 67,476 |
| 3.25%, 02/01/25 (a) | 200,000 | 199,264 |
| Alphabet, Inc. | ||
| 3.38%, 02/25/24 | 135,000 | 135,797 |
| 0.45%, 08/15/25 (a) | 175,000 | 161,186 |
| 2.00%, 08/15/26 (a) | 350,000 | 331,898 |
| Analog Devices, Inc. | ||
| 2.95%, 04/01/25 (a) | 75,000 | 73,564 |
| 3.50%, 12/05/26 (a) | 150,000 | 148,337 |
| Apple Inc. | ||
| 3.00%, 02/09/24 (a) | 250,000 | 249,612 |
| 3.45%, 05/06/24 | 375,000 | 376,946 |
| 2.85%, 05/11/24 (a) | 350,000 | 348,029 |
| 1.80%, 09/11/24 (a) | 170,000 | 164,829 |
| 2.75%, 01/13/25 (a) | 210,000 | 207,740 |
| 2.50%, 02/09/25 | 150,000 | 147,240 |
| 1.13%, 05/11/25 (a) | 325,000 | 305,779 |
| 3.20%, 05/13/25 | 375,000 | 375,090 |
| 0.55%, 08/20/25 (a) | 250,000 | 229,682 |
| 0.70%, 02/08/26 (a) | 300,000 | 273,405 |
| 3.25%, 02/23/26 (a) | 525,000 | 521,304 |
| 2.45%, 08/04/26 (a) | 400,000 | 384,056 |
| 2.05%, 09/11/26 (a) | 375,000 | 353,591 |
| 3.35%, 02/09/27 (a) | 450,000 | 447,246 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.20%, 05/11/27 (a) | 350,000 | 345,037 |
| 3.00%, 06/20/27 (a) | 150,000 | 146,801 |
| Applied Materials, Inc. | ||
| 3.90%, 10/01/25 (a) | 125,000 | 126,370 |
| 3.30%, 04/01/27 (a) | 225,000 | 220,259 |
| Arrow Electronics, Inc. | ||
| 3.25%, 09/08/24 (a) | 100,000 | 97,894 |
| 4.00%, 04/01/25 (a) | 75,000 | 74,313 |
| Autodesk, Inc. | ||
| 4.38%, 06/15/25 (a) | 75,000 | 75,849 |
| Automatic Data Processing, Inc. | ||
| 3.38%, 09/15/25 (a) | 175,000 | 175,140 |
| Avnet, Inc. | ||
| 4.63%, 04/15/26 (a) | 125,000 | 125,725 |
| Baidu, Inc. | ||
| 3.88%, 09/29/23 (a) | 200,000 | 200,834 |
| 4.38%, 05/14/24 (a) | 250,000 | 251,960 |
| 4.13%, 06/30/25 | 200,000 | 199,856 |
| Broadcom Corp./Broadcom Cayman Finance Ltd. | ||
| 3.63%, 01/15/24 (a) | 115,000 | 114,945 |
| 3.13%, 01/15/25 (a) | 115,000 | 112,373 |
| 3.88%, 01/15/27 (a) | 350,000 | 337,659 |
| Broadcom, Inc. | ||
| 3.63%, 10/15/24 (a) | 100,000 | 99,053 |
| 3.15%, 11/15/25 (a) | 280,000 | 269,965 |
| 3.46%, 09/15/26 (a) | 200,000 | 192,122 |
| Broadridge Financial Solutions, Inc. | ||
| 3.40%, 06/27/26 (a) | 100,000 | 96,776 |
| CDW LLC/CDW Finance Corp. | ||
| 5.50%, 12/01/24 (a) | 100,000 | 100,534 |
| 4.13%, 05/01/25 (a) | 125,000 | 121,698 |
| 2.67%, 12/01/26 (a) | 175,000 | 156,545 |
| CGI, Inc. | ||
| 1.45%, 09/14/26 (a) | 125,000 | 110,419 |
| Cisco Systems, Inc. | ||
| 2.20%, 09/20/23 (a) | 100,000 | 99,147 |
| 3.63%, 03/04/24 | 175,000 | 176,477 |
| 3.50%, 06/15/25 | 100,000 | 100,806 |
| 2.95%, 02/28/26 | 125,000 | 123,089 |
| 2.50%, 09/20/26 (a) | 275,000 | 264,434 |
| Citrix Systems, Inc. | ||
| 1.25%, 03/01/26 (a) | 150,000 | 145,079 |
| Dell International LLC/EMC Corp. | ||
| 4.00%, 07/15/24 (a) | 100,000 | 99,758 |
| 5.85%, 07/15/25 (a) | 175,000 | 180,750 |
| 6.02%, 06/15/26 (a) | 775,000 | 804,078 |
| 4.90%, 10/01/26 (a) | 300,000 | 300,477 |
| DXC Technology Co. | ||
| 1.80%, 09/15/26 (a) | 150,000 | 133,140 |
| Equifax, Inc. | ||
| 2.60%, 12/01/24 (a) | 125,000 | 120,691 |
| 2.60%, 12/15/25 (a) | 75,000 | 70,764 |
| Equinix, Inc. | ||
| 2.63%, 11/18/24 (a) | 145,000 | 139,291 |
| 1.25%, 07/15/25 (a) | 100,000 | 90,943 |
| 1.00%, 09/15/25 (a) | 125,000 | 112,206 |
| 1.45%, 05/15/26 (a) | 125,000 | 111,300 |
| 2.90%, 11/18/26 (a) | 125,000 | 116,179 |
| Fidelity National Information Services, Inc. | ||
| 0.60%, 03/01/24 | 125,000 | 118,381 |
| 1.15%, 03/01/26 (a) | 225,000 | 199,703 |
| Fiserv, Inc. | ||
| 3.80%, 10/01/23 (a) | 145,000 | 145,380 |
| 2.75%, 07/01/24 (a) | 350,000 | 341,726 |
129
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.85%, 06/01/25 (a) | 175,000 | 173,388 |
| 3.20%, 07/01/26 (a) | 325,000 | 308,831 |
| 2.25%, 06/01/27 (a) | 150,000 | 134,388 |
| Flex Ltd. | ||
| 4.75%, 06/15/25 (a) | 100,000 | 100,653 |
| 3.75%, 02/01/26 (a) | 125,000 | 119,655 |
| Fortinet, Inc. | ||
| 1.00%, 03/15/26 (a) | 125,000 | 110,316 |
| Genpact Luxembourg SARL/Genpact USA, Inc. | ||
| 1.75%, 04/10/26 (a)(g) | 150,000 | 136,538 |
| Global Payments, Inc. | ||
| 1.50%, 11/15/24 (a) | 100,000 | 93,841 |
| 2.65%, 02/15/25 (a) | 150,000 | 143,139 |
| 1.20%, 03/01/26 (a) | 150,000 | 132,402 |
| 4.80%, 04/01/26 (a) | 125,000 | 125,156 |
| 2.15%, 01/15/27 (a) | 175,000 | 155,230 |
| Hewlett Packard Enterprise Co. | ||
| 4.45%, 10/02/23 (a) | 125,000 | 126,120 |
| 1.45%, 04/01/24 (a) | 175,000 | 168,578 |
| 4.90%, 10/15/25 (a) | 425,000 | 432,807 |
| 1.75%, 04/01/26 (a) | 150,000 | 137,234 |
| HP, Inc. | ||
| 2.20%, 06/17/25 (a) | 150,000 | 141,794 |
| 1.45%, 06/17/26 (a) | 150,000 | 132,938 |
| 3.00%, 06/17/27 (a) | 150,000 | 138,720 |
| Intel Corp. | ||
| 2.88%, 05/11/24 (a) | 300,000 | 299,199 |
| 3.40%, 03/25/25 (a) | 350,000 | 349,377 |
| 3.70%, 07/29/25 (a) | 475,000 | 477,646 |
| 2.60%, 05/19/26 (a) | 150,000 | 145,299 |
| 3.75%, 03/25/27 (a) | 100,000 | 100,506 |
| 3.15%, 05/11/27 (a) | 150,000 | 146,775 |
| International Business Machines Corp. | ||
| 3.38%, 08/01/23 | 290,000 | 290,687 |
| 3.63%, 02/12/24 | 350,000 | 351,169 |
| 3.00%, 05/15/24 | 550,000 | 545,814 |
| 7.00%, 10/30/25 | 175,000 | 192,318 |
| 3.45%, 02/19/26 | 225,000 | 222,259 |
| 3.30%, 05/15/26 | 500,000 | 488,540 |
| 1.70%, 05/15/27 (a) | 200,000 | 180,080 |
| Intuit, Inc. | ||
| 0.65%, 07/15/23 | 100,000 | 97,189 |
| 0.95%, 07/15/25 (a) | 100,000 | 92,297 |
| Jabil, Inc. | ||
| 1.70%, 04/15/26 (a) | 125,000 | 112,036 |
| 4.25%, 05/15/27 (a) | 75,000 | 72,866 |
| Juniper Networks, Inc. | ||
| 1.20%, 12/10/25 (a) | 75,000 | 67,215 |
| Keysight Technologies, Inc. | ||
| 4.55%, 10/30/24 (a) | 125,000 | 126,984 |
| 4.60%, 04/06/27 (a) | 100,000 | 100,611 |
| KLA Corp. | ||
| 4.65%, 11/01/24 (a) | 225,000 | 228,690 |
| Kyndryl Holdings, Inc. | ||
| 2.05%, 10/15/26 (a)(d) | 150,000 | 127,049 |
| Lam Research Corp. | ||
| 3.80%, 03/15/25 (a) | 65,000 | 65,074 |
| 3.75%, 03/15/26 (a) | 150,000 | 149,883 |
| Leidos, Inc. | ||
| 3.63%, 05/15/25 (a) | 60,000 | 58,847 |
| Marvell Technology, Inc. | ||
| 1.65%, 04/15/26 (a) | 100,000 | 89,743 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Mastercard, Inc. | ||
| 3.38%, 04/01/24 | 100,000 | 100,229 |
| 2.00%, 03/03/25 (a) | 175,000 | 168,907 |
| 2.95%, 11/21/26 (a) | 100,000 | 97,608 |
| 3.30%, 03/26/27 (a) | 175,000 | 172,233 |
| Microchip Technology, Inc. | ||
| 2.67%, 09/01/23 | 175,000 | 172,093 |
| 0.97%, 02/15/24 | 250,000 | 237,662 |
| 4.25%, 09/01/25 (a) | 200,000 | 195,624 |
| Micron Technology, Inc. | ||
| 4.98%, 02/06/26 (a) | 100,000 | 101,148 |
| 4.19%, 02/15/27 (a) | 175,000 | 171,201 |
| Microsoft Corp. | ||
| 2.00%, 08/08/23 (a) | 270,000 | 267,349 |
| 3.63%, 12/15/23 (a) | 275,000 | 277,777 |
| 2.88%, 02/06/24 (a) | 320,000 | 319,709 |
| 2.70%, 02/12/25 (a) | 415,000 | 412,053 |
| 3.13%, 11/03/25 (a) | 500,000 | 499,780 |
| 2.40%, 08/08/26 (a) | 600,000 | 578,730 |
| 3.30%, 02/06/27 (a) | 700,000 | 698,495 |
| Moody's Corp. | ||
| 4.88%, 02/15/24 (a) | 75,000 | 76,454 |
| 3.75%, 03/24/25 (a) | 100,000 | 99,928 |
| Motorola Solutions, Inc. | ||
| 4.00%, 09/01/24 | 125,000 | 124,733 |
| NetApp, Inc. | ||
| 3.30%, 09/29/24 (a) | 115,000 | 113,173 |
| 1.88%, 06/22/25 (a) | 100,000 | 93,308 |
| NVIDIA Corp. | ||
| 0.58%, 06/14/24 (a) | 200,000 | 189,836 |
| 3.20%, 09/16/26 (a) | 175,000 | 173,688 |
| NXP BV / NXP Funding LLC / NXP USA, Inc. | ||
| 4.40%, 06/01/27 (a) | 200,000 | 197,818 |
| NXP BV/NXP Funding LLC | ||
| 4.88%, 03/01/24 (a) | 200,000 | 202,146 |
| 5.35%, 03/01/26 (a) | 25,000 | 25,558 |
| NXP BV/NXP Funding LLC/NXP USA, Inc. | ||
| 2.70%, 05/01/25 (a) | 100,000 | 95,374 |
| 3.88%, 06/18/26 (a) | 175,000 | 168,847 |
| Oracle Corp. | ||
| 2.40%, 09/15/23 (a) | 425,000 | 418,625 |
| 3.40%, 07/08/24 (a) | 350,000 | 345,565 |
| 2.95%, 11/15/24 (a) | 350,000 | 339,899 |
| 2.50%, 04/01/25 (a) | 585,000 | 555,914 |
| 2.95%, 05/15/25 (a) | 425,000 | 407,639 |
| 1.65%, 03/25/26 (a) | 375,000 | 336,052 |
| 2.65%, 07/15/26 (a) | 500,000 | 461,395 |
| 2.80%, 04/01/27 (a) | 350,000 | 319,805 |
| PayPal Holdings, Inc. | ||
| 2.40%, 10/01/24 (a) | 200,000 | 195,288 |
| 1.65%, 06/01/25 (a) | 175,000 | 165,125 |
| 2.65%, 10/01/26 (a) | 225,000 | 213,554 |
| QUALCOMM, Inc. | ||
| 2.90%, 05/20/24 (a) | 150,000 | 149,337 |
| 3.45%, 05/20/25 (a) | 250,000 | 249,997 |
| 3.25%, 05/20/27 (a) | 350,000 | 342,555 |
| S&P Global, Inc. | ||
| 2.95%, 01/22/27 (a) | 75,000 | 72,196 |
| 2.45%, 03/01/27 (a)(d) | 225,000 | 210,784 |
| salesforce.com, Inc. | ||
| 0.63%, 07/15/24 (a) | 100,000 | 94,729 |
| Skyworks Solutions, Inc. | ||
| 1.80%, 06/01/26 (a) | 100,000 | 88,774 |
130
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| SYNNEX Corp. | ||
| 1.25%, 08/09/24 (a)(d) | 150,000 | 140,007 |
| 1.75%, 08/09/26 (a)(d) | 100,000 | 88,326 |
| Texas Instruments, Inc. | ||
| 2.63%, 05/15/24 (a) | 50,000 | 49,563 |
| 1.38%, 03/12/25 (a) | 150,000 | 142,170 |
| 1.13%, 09/15/26 (a) | 100,000 | 91,126 |
| Thomson Reuters Corp. | ||
| 4.30%, 11/23/23 (a) | 110,000 | 110,946 |
| 3.35%, 05/15/26 (a) | 100,000 | 97,208 |
| Trimble, Inc. | ||
| 4.75%, 12/01/24 (a) | 70,000 | 70,488 |
| TSMC Arizona Corp. | ||
| 1.75%, 10/25/26 (a) | 200,000 | 183,776 |
| 3.88%, 04/22/27 (a) | 200,000 | 199,490 |
| Tyco Electronics Group S.A. | ||
| 3.70%, 02/15/26 (a) | 100,000 | 99,826 |
| VeriSign, Inc. | ||
| 5.25%, 04/01/25 (a) | 100,000 | 101,072 |
| Verisk Analytics, Inc. | ||
| 4.00%, 06/15/25 (a) | 150,000 | 148,946 |
| Visa, Inc. | ||
| 3.15%, 12/14/25 (a) | 675,000 | 666,576 |
| 1.90%, 04/15/27 (a) | 200,000 | 184,678 |
| VMware, Inc. | ||
| 0.60%, 08/15/23 | 200,000 | 193,378 |
| 4.50%, 05/15/25 (a) | 175,000 | 175,922 |
| 1.40%, 08/15/26 (a) | 375,000 | 332,209 |
| Western Digital Corp. | ||
| 4.75%, 02/15/26 (a) | 425,000 | 407,248 |
| Western Union Co. | ||
| 2.85%, 01/10/25 (a) | 100,000 | 96,126 |
| 1.35%, 03/15/26 (a) | 125,000 | 111,690 |
| Workday, Inc. | ||
| 3.50%, 04/01/27 (a) | 150,000 | 143,885 |
| Xilinx, Inc. | ||
| 2.95%, 06/01/24 (a) | 100,000 | 99,333 |
| 36,370,561 | ||
| Transportation 1.5% | ||
| BNSF Funding Trust I | ||
| 6.61%, 12/15/55 (a)(b) | 75,000 | 73,907 |
| Burlington Northern Santa Fe LLC | ||
| 3.85%, 09/01/23 (a) | 150,000 | 150,930 |
| 3.75%, 04/01/24 (a) | 152,000 | 153,066 |
| 3.00%, 04/01/25 (a) | 100,000 | 99,277 |
| 3.65%, 09/01/25 (a) | 50,000 | 50,326 |
| 7.00%, 12/15/25 | 50,000 | 55,465 |
| Canadian National Railway Co. | ||
| 2.95%, 11/21/24 (a) | 75,000 | 73,853 |
| 2.75%, 03/01/26 (a) | 75,000 | 72,087 |
| Canadian Pacific Railway Co. | ||
| 1.35%, 12/02/24 (a) | 275,000 | 259,435 |
| 2.90%, 02/01/25 (a) | 140,000 | 136,016 |
| 1.75%, 12/02/26 (a) | 175,000 | 158,553 |
| Continental Airlines 2012-1 Class A Pass-Through Trust | ||
| 4.15%, 10/11/25 | 122,547 | 119,287 |
| Continental Airlines 2012-2 Class A Pass-Through Trust | ||
| 4.00%, 04/29/26 | 144,068 | 137,405 |
| CSX Corp. | ||
| 3.40%, 08/01/24 (a) | 75,000 | 74,679 |
| 3.35%, 11/01/25 (a) | 150,000 | 147,510 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.60%, 11/01/26 (a) | 100,000 | 94,201 |
| 3.25%, 06/01/27 (a) | 150,000 | 144,117 |
| Delta Air Lines 2019-1 Class AA Pass-Through Trust | ||
| 3.20%, 10/25/25 | 75,000 | 72,474 |
| FedEx Corp. | ||
| 3.25%, 04/01/26 (a) | 150,000 | 147,354 |
| GXO Logistics, Inc. | ||
| 1.65%, 07/15/26 (a) | 75,000 | 65,475 |
| JB Hunt Transport Services, Inc. | ||
| 3.88%, 03/01/26 (a) | 150,000 | 148,447 |
| Norfolk Southern Corp. | ||
| 3.85%, 01/15/24 (a) | 25,000 | 25,096 |
| 3.65%, 08/01/25 (a) | 50,000 | 49,763 |
| 2.90%, 06/15/26 (a) | 150,000 | 143,772 |
| Ryder System, Inc. | ||
| 3.88%, 12/01/23 (a) | 50,000 | 49,969 |
| 2.50%, 09/01/24 (a) | 120,000 | 115,576 |
| 4.63%, 06/01/25 (a) | 100,000 | 100,815 |
| 3.35%, 09/01/25 (a) | 90,000 | 87,081 |
| 1.75%, 09/01/26 (a) | 25,000 | 22,665 |
| 2.90%, 12/01/26 (a) | 100,000 | 93,248 |
| 2.85%, 03/01/27 (a) | 75,000 | 69,675 |
| Southwest Airlines Co. | ||
| 5.25%, 05/04/25 (a) | 280,000 | 285,947 |
| 3.00%, 11/15/26 (a) | 50,000 | 46,815 |
| 5.13%, 06/15/27 (a) | 400,000 | 403,780 |
| Union Pacific Corp. | ||
| 3.65%, 02/15/24 (a) | 90,000 | 90,215 |
| 3.15%, 03/01/24 (a) | 95,000 | 94,431 |
| 3.25%, 01/15/25 (a) | 15,000 | 14,929 |
| 3.75%, 07/15/25 (a) | 75,000 | 75,085 |
| 3.25%, 08/15/25 (a) | 100,000 | 98,618 |
| 2.75%, 03/01/26 (a) | 150,000 | 144,150 |
| 2.15%, 02/05/27 (a) | 100,000 | 92,931 |
| 3.00%, 04/15/27 (a) | 150,000 | 144,477 |
| United Airlines 2013-1 Class A Pass-Through Trust | ||
| 4.30%, 02/15/27 | 109,906 | 105,462 |
| United Airlines 2020-1 Class B Pass-Through Trust | ||
| 4.88%, 07/15/27 | 103,750 | 98,421 |
| United Parcel Service, Inc. | ||
| 2.20%, 09/01/24 (a) | 100,000 | 97,650 |
| 3.90%, 04/01/25 (a) | 200,000 | 201,746 |
| 2.40%, 11/15/26 (a) | 100,000 | 95,135 |
| 5,281,316 | ||
| 174,868,828 | ||
| Utility 5.1% | ||
| Electric 4.6% | ||
| AES Corp. | ||
| 1.38%, 01/15/26 (a) | 200,000 | 176,558 |
| Alabama Power Co. | ||
| 3.55%, 12/01/23 | 20,000 | 20,109 |
| Ameren Corp. | ||
| 2.50%, 09/15/24 (a) | 125,000 | 121,402 |
| 3.65%, 02/15/26 (a) | 75,000 | 73,753 |
| 1.95%, 03/15/27 (a) | 200,000 | 179,658 |
| Ameren Illinois Co. | ||
| 3.25%, 03/01/25 (a) | 25,000 | 24,725 |
| American Electric Power Co., Inc. | ||
| 0.75%, 11/01/23 (a) | 100,000 | 96,258 |
| 1.00%, 11/01/25 (a) | 150,000 | 135,058 |
| 3.88%, 02/15/62 (a)(b) | 125,000 | 97,649 |
131
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Appalachian Power Co. | ||
| 3.40%, 06/01/25 (a) | 125,000 | 123,439 |
| Arizona Public Service Co. | ||
| 3.15%, 05/15/25 (a) | 75,000 | 73,650 |
| Avangrid, Inc. | ||
| 3.15%, 12/01/24 (a) | 160,000 | 156,578 |
| 3.20%, 04/15/25 (a) | 125,000 | 121,549 |
| Baltimore Gas & Electric Co. | ||
| 3.35%, 07/01/23 (a) | 75,000 | 74,773 |
| Berkshire Hathaway Energy Co. | ||
| 3.75%, 11/15/23 (a) | 50,000 | 50,326 |
| 3.50%, 02/01/25 (a) | 30,000 | 30,023 |
| 4.05%, 04/15/25 (a) | 200,000 | 201,870 |
| Black Hills Corp. | ||
| 4.25%, 11/30/23 (a) | 165,000 | 165,640 |
| 3.95%, 01/15/26 (a) | 50,000 | 49,691 |
| 3.15%, 01/15/27 (a) | 100,000 | 95,259 |
| CenterPoint Energy Houston Electric LLC | ||
| 2.40%, 09/01/26 (a) | 75,000 | 70,796 |
| CenterPoint Energy, Inc. | ||
| 2.50%, 09/01/24 (a) | 100,000 | 96,831 |
| 1.45%, 06/01/26 (a) | 100,000 | 90,281 |
| Cleco Corporate Holdings LLC | ||
| 3.74%, 05/01/26 (a) | 100,000 | 96,907 |
| CMS Energy Corp. | ||
| 3.00%, 05/15/26 (a) | 75,000 | 72,217 |
| Commonwealth Edison Co. | ||
| 2.55%, 06/15/26 (a) | 125,000 | 119,974 |
| Connecticut Light and Power Co. | ||
| 0.75%, 12/01/25 (a) | 75,000 | 67,931 |
| 3.20%, 03/15/27 (a) | 200,000 | 194,874 |
| Consolidated Edison, Inc. | ||
| 0.65%, 12/01/23 (a) | 125,000 | 120,441 |
| Consumers Energy Co. | ||
| 3.38%, 08/15/23 (a) | 13,000 | 13,026 |
| Delmarva Power & Light Co. | ||
| 3.50%, 11/15/23 (a) | 175,000 | 175,817 |
| Dominion Energy, Inc. | ||
| 3.07%, 08/15/24 | 50,000 | 48,872 |
| 3.30%, 03/15/25 (a) | 100,000 | 98,067 |
| 3.90%, 10/01/25 (a) | 175,000 | 174,491 |
| 1.45%, 04/15/26 (a) | 125,000 | 113,115 |
| 2.85%, 08/15/26 (a) | 100,000 | 95,031 |
| 5.75%, 10/01/54 (a)(b) | 100,000 | 93,561 |
| DTE Electric Co. | ||
| 3.38%, 03/01/25 (a) | 50,000 | 49,638 |
| DTE Energy Co. | ||
| 2.53%, 10/01/24 | 150,000 | 145,207 |
| 1.05%, 06/01/25 (a) | 150,000 | 137,938 |
| 2.85%, 10/01/26 (a) | 125,000 | 118,324 |
| Duke Energy Carolinas LLC | ||
| 2.95%, 12/01/26 (a) | 125,000 | 120,885 |
| Duke Energy Corp. | ||
| 3.95%, 10/15/23 (a) | 50,000 | 50,233 |
| 3.75%, 04/15/24 (a) | 175,000 | 175,010 |
| 0.90%, 09/15/25 (a) | 150,000 | 136,059 |
| 2.65%, 09/01/26 (a) | 250,000 | 234,932 |
| 3.25%, 01/15/82 (a)(b) | 100,000 | 77,575 |
| Duke Energy Ohio, Inc. | ||
| 3.80%, 09/01/23 (a) | 100,000 | 100,196 |
| Duke Energy Progress LLC | ||
| 3.38%, 09/01/23 (a) | 100,000 | 100,257 |
| 3.25%, 08/15/25 (a) | 100,000 | 99,511 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Edison International | ||
| 3.55%, 11/15/24 (a) | 100,000 | 97,766 |
| 4.95%, 04/15/25 (a) | 90,000 | 90,325 |
| 5.75%, 06/15/27 (a) | 150,000 | 152,787 |
| Emera US Finance LP | ||
| 3.55%, 06/15/26 (a) | 200,000 | 191,742 |
| Enel Americas S.A. | ||
| 4.00%, 10/25/26 (a) | 100,000 | 97,462 |
| Enel Generacion Chile S.A. | ||
| 4.25%, 04/15/24 (a) | 100,000 | 98,485 |
| Entergy Arkansas LLC | ||
| 3.70%, 06/01/24 (a) | 92,000 | 92,416 |
| Entergy Corp. | ||
| 0.90%, 09/15/25 (a) | 175,000 | 157,883 |
| 2.95%, 09/01/26 (a) | 150,000 | 142,402 |
| Entergy Gulf States Louisiana LLC | ||
| 5.59%, 10/01/24 | 100,000 | 103,685 |
| Entergy Louisiana LLC | ||
| 4.05%, 09/01/23 (a) | 50,000 | 50,307 |
| 0.62%, 11/17/23 (a) | 121,000 | 116,424 |
| 0.95%, 10/01/24 (a) | 250,000 | 235,867 |
| 5.40%, 11/01/24 | 100,000 | 103,547 |
| Evergy Metro, Inc. | ||
| 3.65%, 08/15/25 (a) | 75,000 | 74,849 |
| Evergy, Inc. | ||
| 2.45%, 09/15/24 (a) | 200,000 | 192,670 |
| Eversource Energy | ||
| 3.80%, 12/01/23 (a) | 100,000 | 100,214 |
| 2.90%, 10/01/24 (a) | 75,000 | 73,318 |
| 3.15%, 01/15/25 (a) | 75,000 | 73,483 |
| 0.80%, 08/15/25 (a) | 50,000 | 45,179 |
| 1.40%, 08/15/26 (a) | 75,000 | 67,060 |
| 2.90%, 03/01/27 (a) | 100,000 | 94,296 |
| Exelon Corp. | ||
| 3.95%, 06/15/25 (a) | 125,000 | 124,696 |
| 3.40%, 04/15/26 (a) | 150,000 | 145,726 |
| 2.75%, 03/15/27 (a)(d) | 125,000 | 117,312 |
| Exelon Generation Co. LLC | ||
| 3.25%, 06/01/25 (a) | 150,000 | 143,943 |
| Florida Power & Light Co. | ||
| 3.25%, 06/01/24 (a) | 80,000 | 80,113 |
| 2.85%, 04/01/25 (a) | 250,000 | 245,960 |
| 3.13%, 12/01/25 (a) | 125,000 | 123,879 |
| Fortis, Inc. | ||
| 3.06%, 10/04/26 (a) | 190,000 | 178,818 |
| Georgia Power Co. | ||
| 2.10%, 07/30/23 | 165,000 | 162,622 |
| 2.20%, 09/15/24 (a) | 100,000 | 96,701 |
| 3.25%, 03/30/27 (a) | 50,000 | 47,691 |
| Interstate Power and Light Co. | ||
| 3.25%, 12/01/24 (a) | 100,000 | 98,970 |
| IPALCO Enterprises, Inc. | ||
| 3.70%, 09/01/24 (a) | 10,000 | 9,866 |
| ITC Holdings Corp. | ||
| 3.65%, 06/15/24 (a) | 75,000 | 74,476 |
| 3.25%, 06/30/26 (a) | 75,000 | 72,217 |
| Louisville Gas and Electric Co. | ||
| 3.30%, 10/01/25 (a) | 125,000 | 123,510 |
| MidAmerican Energy Co. | ||
| 3.50%, 10/15/24 (a) | 125,000 | 125,082 |
| National Rural Utilities Cooperative Finance Corp. | ||
| 3.40%, 11/15/23 (a) | 100,000 | 100,295 |
| 2.95%, 02/07/24 (a) | 150,000 | 148,950 |
132
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 0.35%, 02/08/24 | 100,000 | 95,394 |
| 2.85%, 01/27/25 (a) | 50,000 | 48,956 |
| 3.25%, 11/01/25 (a) | 100,000 | 97,842 |
| 1.00%, 06/15/26 (a) | 100,000 | 89,962 |
| 5.25%, 04/20/46 (a)(b) | 75,000 | 68,876 |
| NextEra Energy Capital Holdings, Inc. | ||
| 1.88%, 01/15/27 (a) | 200,000 | 180,460 |
| 3.55%, 05/01/27 (a) | 300,000 | 290,019 |
| 3.80%, 03/15/82 (a)(b) | 100,000 | 79,798 |
| Oncor Electric Delivery Co. LLC | ||
| 2.75%, 06/01/24 (a) | 100,000 | 98,669 |
| 2.95%, 04/01/25 (a) | 50,000 | 48,926 |
| 0.55%, 10/01/25 (a) | 100,000 | 90,314 |
| Pacific Gas and Electric Co. | ||
| 4.25%, 08/01/23 (a) | 100,000 | 99,761 |
| 1.70%, 11/15/23 (a) | 175,000 | 168,474 |
| 3.85%, 11/15/23 (a) | 50,000 | 49,569 |
| 3.75%, 02/15/24 (a) | 100,000 | 97,974 |
| 3.40%, 08/15/24 (a) | 75,000 | 72,415 |
| 3.50%, 06/15/25 (a) | 100,000 | 95,030 |
| 3.45%, 07/01/25 | 175,000 | 164,664 |
| 3.15%, 01/01/26 | 325,000 | 296,712 |
| 2.95%, 03/01/26 (a) | 125,000 | 113,567 |
| 3.30%, 03/15/27 (a) | 75,000 | 67,613 |
| 5.45%, 06/15/27 (a) | 100,000 | 97,316 |
| PacifiCorp | ||
| 3.60%, 04/01/24 (a) | 50,000 | 50,133 |
| Pinnacle West Capital Corp. | ||
| 1.30%, 06/15/25 (a) | 100,000 | 91,669 |
| Public Service Electric and Gas Co. | ||
| 3.25%, 09/01/23 (a) | 75,000 | 75,019 |
| 2.25%, 09/15/26 (a) | 100,000 | 94,080 |
| Public Service Enterprise Group, Inc. | ||
| 2.88%, 06/15/24 (a) | 175,000 | 171,552 |
| 0.80%, 08/15/25 (a) | 150,000 | 135,798 |
| 0.95%, 03/15/26 (a) | 100,000 | 90,897 |
| Puget Energy, Inc. | ||
| 3.65%, 05/15/25 (a) | 100,000 | 98,263 |
| San Diego Gas & Electric Co. | ||
| 2.50%, 05/15/26 (a) | 125,000 | 119,070 |
| Sierra Pacific Power Co. | ||
| 2.60%, 05/01/26 (a) | 100,000 | 95,250 |
| Southern California Edison Co. | ||
| 0.70%, 08/01/23 | 150,000 | 145,624 |
| 3.50%, 10/01/23 (a) | 25,000 | 24,979 |
| 3.70%, 08/01/25 (a) | 200,000 | 197,000 |
| 1.20%, 02/01/26 (a) | 100,000 | 90,000 |
| Southern Co. | ||
| 2.95%, 07/01/23 (a) | 225,000 | 222,489 |
| 0.60%, 02/26/24 (a) | 100,000 | 94,814 |
| 3.25%, 07/01/26 (a) | 300,000 | 287,919 |
| 4.00%, 01/15/51 (a)(b) | 225,000 | 201,690 |
| 3.75%, 09/15/51 (a)(b) | 200,000 | 169,940 |
| Southern Power Co. | ||
| 4.15%, 12/01/25 (a) | 100,000 | 100,233 |
| 0.90%, 01/15/26 (a) | 75,000 | 67,006 |
| Southwestern Electric Power Co. | ||
| 1.65%, 03/15/26 (a) | 100,000 | 91,245 |
| 2.75%, 10/01/26 (a) | 100,000 | 93,906 |
| The Cleveland Electric Illuminating Co. | ||
| 5.50%, 08/15/24 | 50,000 | 51,509 |
| Tucson Electric Power Co. | ||
| 3.05%, 03/15/25 (a) | 75,000 | 73,828 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Virginia Electric and Power Co. | ||
| 3.10%, 05/15/25 (a) | 100,000 | 98,493 |
| 3.15%, 01/15/26 (a) | 150,000 | 145,921 |
| 2.95%, 11/15/26 (a) | 100,000 | 95,473 |
| 3.50%, 03/15/27 (a) | 150,000 | 146,659 |
| WEC Energy Group, Inc. | ||
| 0.55%, 09/15/23 | 150,000 | 145,047 |
| 0.80%, 03/15/24 (a) | 125,000 | 118,914 |
| Wisconsin Electric Power Co. | ||
| 2.05%, 12/15/24 (a) | 50,000 | 48,308 |
| Xcel Energy, Inc. | ||
| 0.50%, 10/15/23 (a) | 125,000 | 120,312 |
| 3.30%, 06/01/25 (a) | 150,000 | 147,474 |
| 3.35%, 12/01/26 (a) | 100,000 | 96,644 |
| 1.75%, 03/15/27 (a) | 100,000 | 89,386 |
| 16,727,814 | ||
| Natural Gas 0.4% | ||
| AGL Capital Corp. | ||
| 3.25%, 06/15/26 (a) | 75,000 | 72,117 |
| Atmos Energy Corp. | ||
| 3.00%, 06/15/27 (a) | 100,000 | 96,084 |
| NiSource, Inc. | ||
| 0.95%, 08/15/25 (a) | 225,000 | 201,962 |
| 3.49%, 05/15/27 (a) | 150,000 | 143,847 |
| ONE Gas, Inc. | ||
| 3.61%, 02/01/24 (a) | 50,000 | 50,006 |
| 1.10%, 03/11/24 (a) | 125,000 | 119,026 |
| Sempra Energy | ||
| 3.25%, 06/15/27 (a) | 150,000 | 142,356 |
| 4.13%, 04/01/52 (a)(b) | 175,000 | 140,761 |
| Southern California Gas Co. | ||
| 3.15%, 09/15/24 (a) | 100,000 | 99,657 |
| 3.20%, 06/15/25 (a) | 50,000 | 49,131 |
| 2.60%, 06/15/26 (a) | 100,000 | 94,962 |
| 2.95%, 04/15/27 (a) | 200,000 | 189,982 |
| Southern Co. Gas Capital Corp. | ||
| 2.45%, 10/01/23 (a) | 60,000 | 59,193 |
| 1,459,084 | ||
| Utility Other 0.1% | ||
| American Water Capital Corp. | ||
| 3.85%, 03/01/24 (a) | 85,000 | 85,204 |
| 3.40%, 03/01/25 (a) | 85,000 | 84,061 |
| 169,265 | ||
| 18,356,163 | ||
| Total Corporates (Cost $385,566,904) | 359,596,976 | |
133
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY | NUMBER OF SHARES | VALUE ($) |
| SHORT-TERM INVESTMENTS 0.8% OF NET ASSETS | ||
| Money Market Funds 0.8% | ||
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (i) | 3,065,391 | 3,065,391 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (i)(j) | 65,412 | 65,412 |
| 3,130,803 | ||
| Total Short-Term Investments (Cost $3,130,803) | 3,130,803 | |
| Total Investments in Securities (Cost $388,697,707) | 362,727,779 | |
| NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
| FUTURES CONTRACTS | |||
| Long | |||
| 5 Year US Treasury Note (CBOT), expires 09/30/22 | 4 | 449,000 | (37) |
| (a) | The effective maturity may be shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or as the result of embedded demand features (puts or calls). |
| (b) | Security is in a fixed-rate coupon period. Based on index eligibility requirements and the fund’s investment objective this security will be removed from the index prior to converting to a floating rate security. |
| (c) | All or a portion of this security is designated as collateral for delayed-delivery securities. |
| (d) | 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 $5,380,180 or 1.5% of net assets. |
| (e) | Security or a portion of the security purchased on a delayed-delivery or when-issued basis. |
| (f) | Issuers are affiliated with the fund’s investment adviser. |
| (g) | Interest rate is subject to adjustments from time to time if a nationally recognized statistical rating organization downgrades (or subsequently upgrades) the debt rating assigned to the bond. |
| (h) | All or a portion of this security is on loan. Securities on loan were valued at $63,057. |
| (i) | The rate shown is the 7-day yield. |
| (j) | Security purchased with cash collateral received for securities on loan. |
| CBOT — | Chicago Board of Trade |
| REIT — | Real Estate Investment Trust |
Below is a summary of the fund’s transactions with affiliated issuers during the period ended June 30, 2022:
| SECURITY RATE, MATURITY DATE | VALUE AT 12/31/21 | PURCHASES | SALES | REALIZED GAINS (LOSSES) | NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) | ACCRETION OF DISCOUNTS (AMORTIZATION OF PREMIUMS) | VALUE AT 6/30/22 | FACE AMOUNT AT 6/30/22 | INTEREST INCOME EARNED |
| CORPORATES 0.4% OF NET ASSETS | |||||||||
| Financial Institutions 0.4% | |||||||||
| Brokerage/Asset Managers/Exchanges 0.4% | |||||||||
| The Charles Schwab Corp. | |||||||||
| 2.65%, 01/25/23 | $152,937 | $— | ($152,307) | ($581) | $235 | ($284) | $— | $— | $342 |
| 3.55%, 02/01/24 | 131,345 | — | (56,716) | (1,439) | (1,712) | (1,324) | 70,154 | 70,000 | 1,524 |
| 0.75%, 03/18/24 | 398,276 | — | (171,293) | (4,485) | (6,346) | (334) | 215,818 | 225,000 | 1,051 |
| 3.75%, 04/01/24 | 58,077 | — | — | — | (1,335) | (1,349) | 55,393 | 55,000 | 1,031 |
| 4.20%, 03/24/25 | 163,233 | — | (79,140) | (3,084) | (3,051) | (1,745) | 76,213 | 75,000 | 2,199 |
| 3.63%, 04/01/25 | 53,334 | — | — | — | (2,801) | (584) | 49,949 | 50,000 | 906 |
| 3.85%, 05/21/25 | 215,662 | — | (84,376) | (2,645) | (6,118) | (1,970) | 120,553 | 120,000 | 2,632 |
| 3.45%, 02/13/26 | 32,220 | — | — | — | (2,145) | (325) | 29,750 | 30,000 | 518 |
| 0.90%, 03/11/26 | 293,394 | — | (94,657) | (4,886) | (13,998) | 113 | 179,966 | 200,000 | 1,034 |
| 1.15%, 05/13/26 | 247,037 | — | (95,436) | (4,873) | (11,159) | (65) | 135,504 | 150,000 | 1,035 |
| 3.20%, 03/02/27 | — | 100,452 | — | — | (3,616) | (22) | 96,814 | 100,000 | 756 |
| 2.45%, 03/03/27 | — | 194,305 | — | — | (7,706) | 259 | 186,858 | 200,000 | 1,184 |
| 3.30%, 04/01/27 | — | 49,570 | — | — | (990) | 7 | 48,587 | 50,000 | 133 |
| Total | $1,745,515 | $344,327 | ($733,925) | ($21,993) | ($60,742) | ($7,623) | $1,265,559 | $14,345 | |
134
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2022 (see financial note 2(a) for additional information):
| DESCRIPTION | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL |
| Assets | ||||
| Corporates 1 | $— | $359,596,976 | $— | $359,596,976 |
| Short-Term Investments1 | 3,130,803 | — | — | 3,130,803 |
| Liabilities | ||||
| Futures Contracts2 | (37) | — | — | (37) |
| Total | $3,130,766 | $359,596,976 | $— | $362,727,742 |
| 1 | As categorized in the Portfolio Holdings. |
| 2 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
135
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 1-5 Year Corporate Bond ETF
Statement of Assets and Liabilities
As of June 30, 2022; unaudited
| Assets | ||
| Investments in securities, at value - affiliated (cost $1,349,885) | $1,265,559 | |
| Investments in securities, at value - unaffiliated (cost $387,347,822) including securities on loan of $63,057 | 361,462,220 | |
| Deposit with broker for futures contracts | 39,200 | |
| Receivables: | ||
| Investments sold | 9,433,213 | |
| Interest | 2,958,306 | |
| Dividends | 1,653 | |
| Income from securities on loan | + | 133 |
| Total assets | 375,160,284 | |
| Liabilities | ||
| Collateral held for securities on loan | 65,412 | |
| Payables: | ||
| Fund shares redeemed | 7,124,449 | |
| Investments bought | 4,404,285 | |
| Investments bought - delayed delivery | 200,955 | |
| Management fees | 11,976 | |
| Variation margin on futures contracts | + | 7,123 |
| Total liabilities | 11,814,200 | |
| Net assets | $363,346,084 | |
| Net Assets by Source | ||
| Capital received from investors | $396,334,638 | |
| Total distributable loss | + | (32,988,554) |
| Net assets | $363,346,084 | |
| Net Asset Value (NAV) | ||||
| Net Assets | ÷ | Shares Outstanding | = | NAV |
| $363,346,084 | 7,650,000 | $47.50 | ||
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Schwab 1-5 Year Corporate Bond ETF
Statement of Operations
| For the period January 1, 2022 through June 30, 2022; unaudited | ||
| Investment Income | ||
| Interest received from securities - unaffiliated | $2,744,421 | |
| Interest received from securities - affiliated | 6,722 | |
| Dividends received from securities - unaffiliated | 3,932 | |
| Securities on loan, net | + | 1,689 |
| Total investment income | 2,756,764 | |
| Expenses | ||
| Management fees | 85,733 | |
| Total expenses | – | 85,733 |
| Net investment income | 2,671,031 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) | ||
| Net realized losses on sales of securities - affiliated | (23,593) | |
| Net realized losses on sales of securities - unaffiliated | (936,213) | |
| Net realized gains on sales of in-kind redemptions - affiliated | 1,600 | |
| Net realized losses on sales of in-kind redemptions - unaffiliated | (6,340,328) | |
| Net realized losses on futures contracts | + | (42,823) |
| Net realized losses | (7,341,357) | |
| Net change in unrealized appreciation (depreciation) on securities - affiliated | (60,742) | |
| Net change in unrealized appreciation (depreciation) on securities - unaffiliated | (21,008,666) | |
| Net change in unrealized appreciation (depreciation) on futures contracts | + | 1,062 |
| Net change in unrealized appreciation (depreciation) | + | (21,068,346) |
| Net realized and unrealized losses | (28,409,703) | |
| Decrease in net assets resulting from operations | ($25,738,672) | |
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Schwab 1-5 Year Corporate Bond ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
| OPERATIONS | |||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
| Net investment income | $2,671,031 | $5,118,178 | |
| Net realized gains (losses) | (7,341,357) | 685,257 | |
| Net change in unrealized appreciation (depreciation) | + | (21,068,346) | (8,072,331) |
| Decrease in net assets from operations | ($25,738,672) | ($2,268,896) | |
| DISTRIBUTIONS TO SHAREHOLDERS | |||
| Total distributions | ($2,316,035) | ($5,031,370) | |
| TRANSACTIONS IN FUND SHARES | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | VALUE | SHARES | VALUE | ||
| Shares sold | 950,000 | $46,325,121 | 13,350,000 | $682,272,042 | |
| Shares redeemed | + | (5,350,000) | (264,328,034) | (3,600,000) | (183,713,833) |
| Net transactions in fund shares | (4,400,000) | ($218,002,913) | 9,750,000 | $498,558,209 | |
| SHARES OUTSTANDING AND NET ASSETS | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | NET ASSETS | SHARES | NET ASSETS | ||
| Beginning of period | 12,050,000 | $609,403,704 | 2,300,000 | $118,145,761 | |
| Total increase (decrease) | + | (4,400,000) | (246,057,620) | 9,750,000 | 491,257,943 |
| End of period | 7,650,000 | $363,346,084 | 12,050,000 | $609,403,704 | |
138
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Schwab 5-10 Year Corporate Bond ETF
Financial Statements
FINANCIAL HIGHLIGHTS
| 1/1/22– 6/30/22* | 1/1/21– 12/31/21 | 1/1/20– 12/31/20 | 10/10/19 1– 12/31/19 | |||
| Per-Share Data | ||||||
| Net asset value at beginning of period | $51.73 | $53.69 | $50.07 | $50.00 | ||
| Income (loss) from investment operations: | ||||||
| Net investment income (loss)2 | 0.59 | 1.02 | 1.26 | 0.29 | ||
| Net realized and unrealized gains (losses) | (7.22) | (1.98) | 3.60 | 0.04 | ||
| Total from investment operations | (6.63) | (0.96) | 4.86 | 0.33 | ||
| Less distributions: | ||||||
| Distributions from net investment income | (0.48) | (1.00) | (1.24) | (0.26) | ||
| Net asset value at end of period | $44.62 | $51.73 | $53.69 | $50.07 | ||
| Total return | (12.87%) 3 | (1.80%) | 9.83% | 0.67% 3 | ||
| Ratios/Supplemental Data | ||||||
| Ratios to average net assets: | ||||||
| Total expenses | 0.04% 4 | 0.05% 5 | 0.05% | 0.06% 4,6 | ||
| Net investment income (loss) | 2.53% 4 | 1.96% | 2.43% | 2.61% 4 | ||
| Portfolio turnover rate7 | 5% 3 | 11% | 36% | 8% 3 | ||
| Net assets, end of period (x 1,000) | $397,137 | $375,055 | $190,584 | $110,151 | ||
| * | Unaudited. |
| 1 | Commencement of operations. |
| 2 | Calculated based on the average shares outstanding during the period. |
| 3 | Not annualized. |
| 4 | Annualized. |
| 5 | Effective December 20, 2021, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended 12/31/21 is a blended ratio. |
| 6 | Effective December 13, 2019, the annual operating expense ratio was reduced to 0.05%. The ratio presented for the period ended 12/31/19 is a blended ratio. |
| 7 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
139
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (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 U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to orders@mysummaryprospectus.com. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
All securities are currently in a fixed-rate coupon period based on index eligibility requirements and the fund’s investment objective. Generally, for fixed-rate obligations, the rate shown is the interest rate that was established when the obligation was issued. In some cases, for securitized products, the fixed interest rate can change but remains index eligible as a fixed-rate coupon. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. The maturity date shown for all the securities is the final legal maturity.
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| CORPORATES 98.8% OF NET ASSETS | ||
| Financial Institutions 35.2% | ||
| Banking 22.4% | ||
| Ally Financial, Inc. | ||
| 2.20%, 11/02/28 (a) | 150,000 | 122,433 |
| 8.00%, 11/01/31 | 700,000 | 775,514 |
| American Express Co. | ||
| 4.05%, 05/03/29 (a) | 275,000 | 270,317 |
| 4.99%, 05/26/33 (a)(b) | 200,000 | 200,196 |
| Banco Santander S.A. | ||
| 3.80%, 02/23/28 | 200,000 | 187,482 |
| 4.38%, 04/12/28 | 200,000 | 192,518 |
| 3.31%, 06/27/29 | 200,000 | 181,912 |
| 3.49%, 05/28/30 | 400,000 | 354,660 |
| 2.75%, 12/03/30 | 400,000 | 318,296 |
| 2.96%, 03/25/31 | 200,000 | 167,922 |
| 3.23%, 11/22/32 (a)(b) | 200,000 | 159,750 |
| Bank of America Corp. | ||
| 3.25%, 10/21/27 (a) | 450,000 | 424,786 |
| 4.18%, 11/25/27 (a) | 475,000 | 462,408 |
| 3.59%, 07/21/28 (a)(b) | 600,000 | 566,940 |
| 3.42%, 12/20/28 (a)(b) | 1,500,000 | 1,397,745 |
| 3.97%, 03/05/29 (a)(b) | 575,000 | 548,866 |
| 2.09%, 06/14/29 (a)(b) | 600,000 | 514,614 |
| 4.27%, 07/23/29 (a)(b) | 575,000 | 553,265 |
| 3.97%, 02/07/30 (a)(b) | 655,000 | 617,364 |
| 3.19%, 07/23/30 (a)(b) | 620,000 | 555,892 |
| 2.88%, 10/22/30 (a)(b) | 525,000 | 459,868 |
| 2.50%, 02/13/31 (a)(b) | 575,000 | 487,134 |
| 2.59%, 04/29/31 (a)(b) | 925,000 | 786,176 |
| 1.90%, 07/23/31 (a)(b) | 450,000 | 360,526 |
| 1.92%, 10/24/31 (a)(b) | 750,000 | 598,747 |
| 2.65%, 03/11/32 (a)(b) | 525,000 | 441,940 |
| 2.69%, 04/22/32 (a)(b) | 950,000 | 798,646 |
| 2.30%, 07/21/32 (a)(b) | 850,000 | 687,276 |
| 2.57%, 10/20/32 (a)(b) | 1,050,000 | 867,069 |
| 2.97%, 02/04/33 (a)(b) | 950,000 | 810,169 |
| 4.57%, 04/27/33 (a)(b) | 1,000,000 | 974,080 |
| 2.48%, 09/21/36 (a)(b) | 475,000 | 369,692 |
| 3.85%, 03/08/37 (a)(b) | 600,000 | 519,756 |
| Bank of Montreal | ||
| 3.80%, 12/15/32 (a)(b) | 225,000 | 209,291 |
| 3.09%, 01/10/37 (a)(b) | 300,000 | 245,919 |
| Bank of New York Mellon Corp. | ||
| 3.40%, 01/29/28 (a) | 50,000 | 47,957 |
| 3.85%, 04/28/28 | 200,000 | 195,524 |
| 1.65%, 07/14/28 (a) | 300,000 | 260,601 |
| 3.00%, 10/30/28 (a) | 100,000 | 91,800 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.90%, 01/25/29 (a) | 125,000 | 108,510 |
| 3.30%, 08/23/29 (a) | 175,000 | 162,061 |
| 1.65%, 01/28/31 (a) | 100,000 | 80,946 |
| 1.80%, 07/28/31 (a) | 100,000 | 81,230 |
| 2.50%, 01/26/32 (a) | 125,000 | 106,711 |
| 4.29%, 06/13/33 (a)(b) | 250,000 | 245,303 |
| Bank of Nova Scotia | ||
| 2.15%, 08/01/31 | 175,000 | 143,315 |
| 2.45%, 02/02/32 | 225,000 | 187,108 |
| 4.59%, 05/04/37 (a)(b) | 300,000 | 276,495 |
| BankUnited, Inc. | ||
| 5.13%, 06/11/30 (a) | 100,000 | 96,281 |
| Barclays PLC | ||
| 4.34%, 01/10/28 (a) | 200,000 | 191,354 |
| 4.84%, 05/09/28 (a) | 500,000 | 481,885 |
| 4.97%, 05/16/29 (a)(b) | 550,000 | 540,479 |
| 5.09%, 06/20/30 (a)(b) | 325,000 | 308,246 |
| 2.65%, 06/24/31 (a)(b) | 200,000 | 166,332 |
| 2.67%, 03/10/32 (a)(b) | 250,000 | 201,858 |
| 2.89%, 11/24/32 (a)(b) | 200,000 | 161,272 |
| 3.56%, 09/23/35 (a)(b) | 250,000 | 198,653 |
| Canadian Imperial Bank of Commerce | ||
| 3.60%, 04/07/32 (a) | 200,000 | 181,792 |
| Capital One Financial Corp. | ||
| 3.80%, 01/31/28 (a) | 250,000 | 235,755 |
| 3.27%, 03/01/30 (a)(b) | 525,000 | 465,670 |
| 2.36%, 07/29/32 (a)(b) | 225,000 | 171,416 |
| 2.62%, 11/02/32 (a)(b) | 150,000 | 120,638 |
| 5.27%, 05/10/33 (a)(b) | 200,000 | 196,754 |
| Citigroup, Inc. | ||
| 4.45%, 09/29/27 | 950,000 | 934,933 |
| 6.63%, 01/15/28 | 175,000 | 192,556 |
| 3.67%, 07/24/28 (a)(b) | 570,000 | 539,140 |
| 4.13%, 07/25/28 | 495,000 | 475,452 |
| 3.52%, 10/27/28 (a)(b) | 480,000 | 448,699 |
| 4.08%, 04/23/29 (a)(b) | 500,000 | 475,880 |
| 3.98%, 03/20/30 (a)(b) | 575,000 | 538,499 |
| 2.98%, 11/05/30 (a)(b) | 350,000 | 306,036 |
| 2.67%, 01/29/31 (a)(b) | 625,000 | 531,444 |
| 4.41%, 03/31/31 (a)(b) | 650,000 | 622,830 |
| 2.57%, 06/03/31 (a)(b) | 925,000 | 778,702 |
| 2.56%, 05/01/32 (a)(b) | 725,000 | 598,321 |
| 6.63%, 06/15/32 | 300,000 | 328,446 |
| 2.52%, 11/03/32 (a)(b) | 450,000 | 365,476 |
| 3.06%, 01/25/33 (a)(b) | 800,000 | 680,048 |
| 3.79%, 03/17/33 (a)(b) | 650,000 | 587,762 |
| 4.91%, 05/24/33 (a)(b) | 700,000 | 691,488 |
| Citizens Financial Group, Inc. | ||
| 2.50%, 02/06/30 (a) | 125,000 | 105,564 |
| 3.25%, 04/30/30 (a) | 150,000 | 133,325 |
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Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Comerica, Inc. | ||
| 4.00%, 02/01/29 (a) | 150,000 | 145,830 |
| Deutsche Bank AG | ||
| 3.55%, 09/18/31 (a)(b) | 400,000 | 335,252 |
| 3.04%, 05/28/32 (a)(b) | 350,000 | 277,207 |
| Discover Bank | ||
| 2.70%, 02/06/30 (a) | 350,000 | 292,124 |
| Fifth Third Bancorp | ||
| 3.95%, 03/14/28 (a) | 150,000 | 145,988 |
| 4.34%, 04/25/33 (a)(b) | 200,000 | 190,496 |
| First Horizon Bank | ||
| 5.75%, 05/01/30 (a) | 100,000 | 102,438 |
| First-Citizens Bank & Trust Co. | ||
| 6.13%, 03/09/28 | 100,000 | 104,110 |
| Goldman Sachs Group, Inc. | ||
| 3.81%, 04/23/29 (a)(b) | 440,000 | 415,109 |
| 4.22%, 05/01/29 (a)(b) | 825,000 | 793,815 |
| 2.60%, 02/07/30 (a) | 425,000 | 362,712 |
| 3.80%, 03/15/30 (a) | 675,000 | 626,056 |
| 1.99%, 01/27/32 (a)(b) | 675,000 | 534,809 |
| 2.62%, 04/22/32 (a)(b) | 900,000 | 748,638 |
| 2.38%, 07/21/32 (a)(b) | 1,025,000 | 830,732 |
| 2.65%, 10/21/32 (a)(b) | 675,000 | 556,834 |
| 3.10%, 02/24/33 (a)(b) | 900,000 | 770,256 |
| HSBC Holdings PLC | ||
| 2.01%, 09/22/28 (a)(b) | 500,000 | 428,140 |
| 4.58%, 06/19/29 (a)(b) | 650,000 | 627,055 |
| 2.21%, 08/17/29 (a)(b) | 525,000 | 441,567 |
| 4.95%, 03/31/30 | 700,000 | 692,125 |
| 3.97%, 05/22/30 (a)(b) | 575,000 | 530,299 |
| 2.85%, 06/04/31 (a)(b) | 700,000 | 591,941 |
| 2.36%, 08/18/31 (a)(b) | 350,000 | 284,235 |
| 2.80%, 05/24/32 (a)(b) | 700,000 | 575,799 |
| 2.87%, 11/22/32 (a)(b) | 500,000 | 410,145 |
| 4.76%, 03/29/33 (a)(b) | 400,000 | 369,656 |
| Huntington Bancshares, Inc. | ||
| 2.55%, 02/04/30 (a) | 175,000 | 149,324 |
| 2.49%, 08/15/36 (a)(b) | 215,000 | 167,724 |
| ING Groep N.V. | ||
| 4.55%, 10/02/28 | 300,000 | 292,305 |
| 4.05%, 04/09/29 | 325,000 | 305,845 |
| 2.73%, 04/01/32 (a)(b) | 200,000 | 167,044 |
| 4.25%, 03/28/33 (a)(b) | 200,000 | 186,748 |
| JPMorgan Chase & Co. | ||
| 4.25%, 10/01/27 | 300,000 | 297,375 |
| 3.63%, 12/01/27 (a) | 200,000 | 192,242 |
| 2.18%, 06/01/28 (a)(b) | 300,000 | 267,618 |
| 3.51%, 01/23/29 (a)(b) | 485,000 | 454,455 |
| 4.01%, 04/23/29 (a)(b) | 375,000 | 359,779 |
| 2.07%, 06/01/29 (a)(b) | 450,000 | 387,477 |
| 4.20%, 07/23/29 (a)(b) | 695,000 | 671,175 |
| 4.45%, 12/05/29 (a)(b) | 600,000 | 585,300 |
| 3.70%, 05/06/30 (a)(b) | 500,000 | 466,345 |
| 4.57%, 06/14/30 (a)(b) | 600,000 | 590,142 |
| 8.75%, 09/01/30 | 100,000 | 122,545 |
| 2.74%, 10/15/30 (a)(b) | 955,000 | 833,457 |
| 4.49%, 03/24/31 (a)(b) | 625,000 | 611,744 |
| 2.52%, 04/22/31 (a)(b) | 675,000 | 575,842 |
| 2.96%, 05/13/31 (a)(b) | 615,000 | 533,057 |
| 1.76%, 11/19/31 (a)(b) | 300,000 | 238,050 |
| 1.95%, 02/04/32 (a)(b) | 575,000 | 460,195 |
| 2.58%, 04/22/32 (a)(b) | 750,000 | 632,025 |
| 2.55%, 11/08/32 (a)(b) | 550,000 | 457,462 |
| 2.96%, 01/25/33 (a)(b) | 1,100,000 | 945,428 |
| 4.59%, 04/26/33 (a)(b) | 650,000 | 639,463 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| KeyBank NA | ||
| 3.90%, 04/13/29 | 300,000 | 283,425 |
| KeyCorp | ||
| 4.10%, 04/30/28 | 150,000 | 144,758 |
| 2.55%, 10/01/29 | 100,000 | 86,572 |
| Lloyds Banking Group PLC | ||
| 4.38%, 03/22/28 | 350,000 | 340,308 |
| 4.55%, 08/16/28 | 350,000 | 342,762 |
| 3.57%, 11/07/28 (a)(b) | 500,000 | 469,150 |
| Manufacturers & Traders Trust Co. | ||
| 3.40%, 08/17/27 | 200,000 | 190,044 |
| Mitsubishi UFJ Financial Group, Inc. | ||
| 3.29%, 07/25/27 | 100,000 | 94,778 |
| 3.96%, 03/02/28 | 300,000 | 289,962 |
| 4.05%, 09/11/28 | 350,000 | 338,366 |
| 3.74%, 03/07/29 | 325,000 | 306,585 |
| 3.20%, 07/18/29 | 425,000 | 384,004 |
| 2.56%, 02/25/30 | 200,000 | 171,798 |
| 2.05%, 07/17/30 | 200,000 | 163,428 |
| 2.31%, 07/20/32 (a)(b) | 500,000 | 407,830 |
| 2.49%, 10/13/32 (a)(b) | 200,000 | 165,304 |
| 2.85%, 01/19/33 (a)(b) | 275,000 | 234,017 |
| 4.32%, 04/19/33 (a)(b) | 200,000 | 192,480 |
| Mizuho Financial Group, Inc. | ||
| 3.17%, 09/11/27 | 350,000 | 325,325 |
| 4.02%, 03/05/28 | 200,000 | 191,794 |
| 4.25%, 09/11/29 (a)(b) | 300,000 | 289,359 |
| 3.26%, 05/22/30 (a)(b) | 100,000 | 89,979 |
| 3.15%, 07/16/30 (a)(b) | 200,000 | 178,224 |
| 2.87%, 09/13/30 (a)(b) | 100,000 | 87,144 |
| 2.59%, 05/25/31 (a)(b) | 200,000 | 168,246 |
| 2.20%, 07/10/31 (a)(b) | 300,000 | 244,284 |
| 1.98%, 09/08/31 (a)(b) | 200,000 | 158,850 |
| 2.56%, 09/13/31 | 225,000 | 180,466 |
| 2.26%, 07/09/32 (a)(b) | 200,000 | 159,844 |
| Morgan Stanley | ||
| 3.59%, 07/22/28 (a)(b) | 650,000 | 616,057 |
| 3.77%, 01/24/29 (a)(b) | 858,000 | 816,850 |
| 4.43%, 01/23/30 (a)(b) | 655,000 | 636,680 |
| 2.70%, 01/22/31 (a)(b) | 840,000 | 728,759 |
| 3.62%, 04/01/31 (a)(b) | 650,000 | 598,078 |
| 1.79%, 02/13/32 (a)(b) | 550,000 | 433,999 |
| 7.25%, 04/01/32 | 150,000 | 177,329 |
| 1.93%, 04/28/32 (a)(b) | 550,000 | 436,579 |
| 2.24%, 07/21/32 (a)(b) | 975,000 | 792,548 |
| 2.51%, 10/20/32 (a)(b) | 600,000 | 497,220 |
| 2.94%, 01/21/33 (a)(b) | 650,000 | 557,661 |
| 2.48%, 09/16/36 (a)(b) | 725,000 | 557,626 |
| 5.30%, 04/20/37 (a)(b) | 550,000 | 534,143 |
| Natwest Group PLC | ||
| 4.89%, 05/18/29 (a)(b) | 425,000 | 412,343 |
| 5.08%, 01/27/30 (a)(b) | 400,000 | 392,180 |
| 4.45%, 05/08/30 (a)(b) | 300,000 | 283,641 |
| 3.03%, 11/28/35 (a)(b) | 200,000 | 161,252 |
| Northern Trust Corp. | ||
| 3.65%, 08/03/28 (a) | 75,000 | 73,451 |
| 3.15%, 05/03/29 (a) | 150,000 | 140,915 |
| 1.95%, 05/01/30 (a) | 175,000 | 148,808 |
| PNC Bank NA | ||
| 3.25%, 01/22/28 (a) | 300,000 | 286,080 |
| 4.05%, 07/26/28 | 500,000 | 484,225 |
| 2.70%, 10/22/29 | 250,000 | 217,935 |
| PNC Financial Services Group, Inc. | ||
| 3.45%, 04/23/29 (a) | 350,000 | 327,316 |
| 2.55%, 01/22/30 (a) | 390,000 | 339,604 |
| 2.31%, 04/23/32 (a)(b) | 175,000 | 146,584 |
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Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Royal Bank of Canada | ||
| 2.30%, 11/03/31 | 350,000 | 292,142 |
| 3.88%, 05/04/32 | 225,000 | 214,520 |
| Santander Holdings USA, Inc. | ||
| 4.40%, 07/13/27 (a) | 210,000 | 202,440 |
| Santander UK Group Holdings PLC | ||
| 3.82%, 11/03/28 (a)(b) | 200,000 | 186,038 |
| 2.90%, 03/15/32 (a)(b) | 200,000 | 166,692 |
| State Street Corp. | ||
| 4.14%, 12/03/29 (a)(b) | 100,000 | 98,042 |
| 2.40%, 01/24/30 | 350,000 | 305,785 |
| 2.20%, 03/03/31 | 200,000 | 163,582 |
| 3.15%, 03/30/31 (a)(b) | 150,000 | 136,022 |
| 3.03%, 11/01/34 (a)(b) | 100,000 | 87,987 |
| Sumitomo Mitsui Financial Group, Inc. | ||
| 3.36%, 07/12/27 | 200,000 | 190,526 |
| 3.35%, 10/18/27 | 450,000 | 426,262 |
| 3.54%, 01/17/28 | 175,000 | 166,303 |
| 1.90%, 09/17/28 | 400,000 | 339,840 |
| 4.31%, 10/16/28 | 100,000 | 97,997 |
| 2.47%, 01/14/29 | 200,000 | 174,624 |
| 3.04%, 07/16/29 | 450,000 | 401,400 |
| 3.20%, 09/17/29 | 250,000 | 222,428 |
| 2.72%, 09/27/29 | 200,000 | 175,072 |
| 2.75%, 01/15/30 | 300,000 | 261,747 |
| 2.13%, 07/08/30 | 300,000 | 247,512 |
| 2.14%, 09/23/30 | 150,000 | 120,345 |
| 1.71%, 01/12/31 | 200,000 | 157,316 |
| 2.22%, 09/17/31 | 300,000 | 243,249 |
| SVB Financial Group | ||
| 2.10%, 05/15/28 (a) | 100,000 | 85,262 |
| 3.13%, 06/05/30 (a) | 325,000 | 280,911 |
| 1.80%, 02/02/31 (a) | 100,000 | 77,175 |
| Synchrony Financial | ||
| 3.95%, 12/01/27 (a) | 200,000 | 182,238 |
| 5.15%, 03/19/29 (a) | 260,000 | 243,591 |
| 2.88%, 10/28/31 (a) | 150,000 | 113,975 |
| The PNC Financial Services Group, Inc. | ||
| 4.63%, 06/06/33 (a)(b) | 250,000 | 242,090 |
| Toronto-Dominion Bank | ||
| 2.00%, 09/10/31 | 225,000 | 183,292 |
| 2.45%, 01/12/32 | 150,000 | 125,795 |
| 3.20%, 03/10/32 | 350,000 | 312,536 |
| 4.46%, 06/08/32 | 500,000 | 494,810 |
| Truist Bank | ||
| 2.25%, 03/11/30 (a) | 600,000 | 503,328 |
| Truist Financial Corp. | ||
| 1.13%, 08/03/27 (a) | 150,000 | 128,808 |
| 3.88%, 03/19/29 (a) | 150,000 | 142,254 |
| 1.95%, 06/05/30 (a) | 75,000 | 62,420 |
| US Bancorp | ||
| 3.90%, 04/26/28 (a) | 250,000 | 247,345 |
| 3.00%, 07/30/29 (a) | 300,000 | 273,315 |
| 1.38%, 07/22/30 (a) | 350,000 | 279,335 |
| 2.68%, 01/27/33 (a)(b) | 150,000 | 129,590 |
| 2.49%, 11/03/36 (a)(b) | 200,000 | 163,588 |
| Webster Financial Corp. | ||
| 4.10%, 03/25/29 (a) | 150,000 | 142,548 |
| Wells Fargo & Co. | ||
| 4.30%, 07/22/27 | 575,000 | 568,617 |
| 4.15%, 01/24/29 (a) | 552,000 | 534,491 |
| 7.95%, 11/15/29 | 25,000 | 29,017 |
| 2.88%, 10/30/30 (a)(b) | 950,000 | 836,769 |
| 2.57%, 02/11/31 (a)(b) | 850,000 | 731,357 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.48%, 04/04/31 (a)(b) | 425,000 | 416,117 |
| 3.35%, 03/02/33 (a)(b) | 1,000,000 | 889,430 |
| Westpac Banking Corp. | ||
| 4.04%, 08/26/27 | 250,000 | 248,930 |
| 3.40%, 01/25/28 | 250,000 | 240,155 |
| 1.95%, 11/20/28 | 325,000 | 283,546 |
| 2.65%, 01/16/30 | 220,000 | 195,870 |
| 2.15%, 06/03/31 | 225,000 | 189,108 |
| 4.11%, 07/24/34 (a)(b) | 350,000 | 320,817 |
| 2.67%, 11/15/35 (a)(b) | 300,000 | 241,122 |
| 3.02%, 11/18/36 (a)(b) | 200,000 | 161,622 |
| Wintrust Financial Corp. | ||
| 4.85%, 06/06/29 | 75,000 | 73,410 |
| Zions Bancorp NA | ||
| 3.25%, 10/29/29 (a) | 150,000 | 131,226 |
| 89,063,880 | ||
| Brokerage/Asset Managers/Exchanges 1.9% | ||
| Affiliated Managers Group, Inc. | ||
| 3.30%, 06/15/30 (a) | 50,000 | 45,148 |
| Ameriprise Financial, Inc. | ||
| 4.50%, 05/13/32 (a) | 175,000 | 172,231 |
| BlackRock, Inc. | ||
| 3.25%, 04/30/29 (a) | 275,000 | 259,952 |
| 2.40%, 04/30/30 (a) | 325,000 | 284,983 |
| 1.90%, 01/28/31 (a) | 350,000 | 290,458 |
| 2.10%, 02/25/32 (a) | 100,000 | 82,722 |
| Brookfield Finance I UK PLC | ||
| 2.34%, 01/30/32 (a) | 150,000 | 120,887 |
| Brookfield Finance, Inc. | ||
| 3.90%, 01/25/28 (a) | 215,000 | 205,811 |
| 4.85%, 03/29/29 (a) | 175,000 | 173,385 |
| 4.35%, 04/15/30 (a) | 135,000 | 129,094 |
| 2.72%, 04/15/31 (a) | 225,000 | 191,286 |
| Cboe Global Markets, Inc. | ||
| 1.63%, 12/15/30 (a) | 100,000 | 80,544 |
| 3.00%, 03/16/32 (a) | 125,000 | 111,984 |
| CI Financial Corp. | ||
| 3.20%, 12/17/30 (a) | 200,000 | 155,924 |
| CME Group, Inc. | ||
| 3.75%, 06/15/28 (a) | 150,000 | 148,131 |
| 2.65%, 03/15/32 (a) | 200,000 | 176,966 |
| E*TRADE Financial Corp. | ||
| 3.80%, 08/24/27 (a) | 175,000 | 168,877 |
| 4.50%, 06/20/28 (a) | 150,000 | 150,005 |
| Franklin Resources, Inc. | ||
| 1.60%, 10/30/30 (a) | 250,000 | 196,487 |
| Intercontinental Exchange, Inc. | ||
| 3.10%, 09/15/27 (a) | 100,000 | 94,519 |
| 4.00%, 09/15/27 (a) | 450,000 | 443,020 |
| 3.75%, 09/21/28 (a) | 116,000 | 111,594 |
| 4.35%, 06/15/29 (a) | 300,000 | 296,271 |
| 2.10%, 06/15/30 (a) | 325,000 | 272,460 |
| Jefferies Group LLC | ||
| 6.45%, 06/08/27 | 50,000 | 53,457 |
| Jefferies Group LLC/Jefferies Group Capital Finance, Inc. | ||
| 4.15%, 01/23/30 | 330,000 | 296,248 |
| 2.63%, 10/15/31 (a) | 250,000 | 192,855 |
| Lazard Group LLC | ||
| 4.50%, 09/19/28 (a) | 150,000 | 144,177 |
| 4.38%, 03/11/29 (a) | 85,000 | 81,203 |
| Nasdaq, Inc. | ||
| 1.65%, 01/15/31 (a) | 125,000 | 98,370 |
142
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See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Nomura Holdings, Inc. | ||
| 2.17%, 07/14/28 | 300,000 | 253,230 |
| 3.10%, 01/16/30 | 400,000 | 340,632 |
| 2.68%, 07/16/30 | 250,000 | 205,327 |
| 2.61%, 07/14/31 | 200,000 | 159,590 |
| 3.00%, 01/22/32 | 200,000 | 162,508 |
| Raymond James Financial, Inc. | ||
| 4.65%, 04/01/30 (a) | 100,000 | 98,684 |
| Stifel Financial Corp. | ||
| 4.00%, 05/15/30 (a) | 175,000 | 162,405 |
| The Charles Schwab Corp. | ||
| 3.20%, 01/25/28 (a)(c) | 100,000 | 95,733 |
| 2.00%, 03/20/28 (a)(c) | 200,000 | 178,798 |
| 4.00%, 02/01/29 (a)(c) | 100,000 | 98,521 |
| 3.25%, 05/22/29 (a)(c) | 105,000 | 97,832 |
| 2.75%, 10/01/29 (a)(c) | 75,000 | 67,631 |
| 4.63%, 03/22/30 (a)(c) | 75,000 | 76,027 |
| 1.65%, 03/11/31 (a)(c) | 125,000 | 100,545 |
| 2.30%, 05/13/31 (a)(c) | 125,000 | 105,879 |
| 1.95%, 12/01/31 (a)(c) | 160,000 | 129,862 |
| 2.90%, 03/03/32 (a)(c) | 195,000 | 171,803 |
| 7,734,056 | ||
| Finance Companies 1.1% | ||
| AerCap Ireland Capital DAC/AerCap Global Aviation Trust | ||
| 3.65%, 07/21/27 (a) | 250,000 | 226,605 |
| 4.63%, 10/15/27 (a) | 150,000 | 141,481 |
| 3.88%, 01/23/28 (a) | 300,000 | 271,149 |
| 3.00%, 10/29/28 (a) | 650,000 | 547,202 |
| 3.30%, 01/30/32 (a) | 950,000 | 757,729 |
| Air Lease Corp. | ||
| 3.63%, 12/01/27 (a) | 100,000 | 89,247 |
| 2.10%, 09/01/28 (a) | 100,000 | 81,298 |
| 4.63%, 10/01/28 (a) | 150,000 | 138,847 |
| 3.25%, 10/01/29 (a) | 135,000 | 112,940 |
| 3.00%, 02/01/30 (a) | 150,000 | 122,117 |
| 3.13%, 12/01/30 (a) | 200,000 | 163,382 |
| 2.88%, 01/15/32 (a) | 150,000 | 117,078 |
| Ares Capital Corp. | ||
| 2.88%, 06/15/27 (a) | 100,000 | 83,703 |
| 2.88%, 06/15/28 (a) | 225,000 | 179,566 |
| 3.20%, 11/15/31 (a) | 150,000 | 109,472 |
| Blackstone Private Credit Fund | ||
| 4.00%, 01/15/29 (a)(d) | 150,000 | 123,166 |
| Blackstone Secured Lending Fund | ||
| 2.85%, 09/30/28 (a) | 175,000 | 141,298 |
| FS KKR Capital Corp. | ||
| 3.13%, 10/12/28 (a) | 275,000 | 219,552 |
| GATX Corp. | ||
| 3.50%, 03/15/28 (a) | 75,000 | 70,335 |
| 4.55%, 11/07/28 (a) | 100,000 | 98,144 |
| 4.70%, 04/01/29 (a) | 125,000 | 122,181 |
| 4.00%, 06/30/30 (a) | 100,000 | 92,685 |
| 1.90%, 06/01/31 (a) | 100,000 | 78,129 |
| 3.50%, 06/01/32 (a) | 50,000 | 43,807 |
| Owl Rock Capital Corp. | ||
| 2.88%, 06/11/28 (a) | 175,000 | 138,131 |
| Prospect Capital Corp. | ||
| 3.44%, 10/15/28 (a) | 75,000 | 57,560 |
| 4,326,804 | ||
| Financial Other 0.1% | ||
| Andrew W Mellon Foundation | ||
| 0.95%, 08/01/27 (a) | 50,000 | 43,858 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| ORIX Corp. | ||
| 3.70%, 07/18/27 | 135,000 | 131,462 |
| 2.25%, 03/09/31 | 75,000 | 63,080 |
| 4.00%, 04/13/32 | 125,000 | 119,744 |
| 358,144 | ||
| Insurance 4.2% | ||
| Aegon N.V. | ||
| 5.50%, 04/11/48 (a)(b) | 200,000 | 192,620 |
| Aflac, Inc. | ||
| 3.60%, 04/01/30 (a) | 200,000 | 189,464 |
| Alleghany Corp. | ||
| 3.63%, 05/15/30 (a) | 200,000 | 187,644 |
| Allstate Corp. | ||
| 1.45%, 12/15/30 (a) | 75,000 | 59,660 |
| American Equity Investment Life Holding Co. | ||
| 5.00%, 06/15/27 (a) | 100,000 | 98,579 |
| American Financial Group, Inc. | ||
| 5.25%, 04/02/30 (a) | 75,000 | 75,278 |
| American International Group, Inc. | ||
| 3.40%, 06/30/30 (a) | 125,000 | 114,754 |
| 5.75%, 04/01/48 (a)(b) | 125,000 | 112,758 |
| Anthem, Inc. | ||
| 3.65%, 12/01/27 (a) | 331,000 | 322,391 |
| 4.10%, 03/01/28 (a) | 200,000 | 198,022 |
| 2.88%, 09/15/29 (a) | 160,000 | 144,320 |
| 2.25%, 05/15/30 (a) | 450,000 | 384,988 |
| 2.55%, 03/15/31 (a) | 250,000 | 216,207 |
| 4.10%, 05/15/32 (a) | 200,000 | 194,838 |
| Aon Corp. | ||
| 4.50%, 12/15/28 (a) | 75,000 | 73,971 |
| 3.75%, 05/02/29 (a) | 100,000 | 94,571 |
| 2.80%, 05/15/30 (a) | 175,000 | 153,263 |
| 2.05%, 08/23/31 (a) | 150,000 | 121,415 |
| 2.60%, 12/02/31 (a) | 100,000 | 84,637 |
| Arthur J Gallagher & Co. | ||
| 2.40%, 11/09/31 (a) | 125,000 | 102,605 |
| Assurant, Inc. | ||
| 4.90%, 03/27/28 (a) | 60,000 | 59,644 |
| 3.70%, 02/22/30 (a) | 100,000 | 89,096 |
| 2.65%, 01/15/32 (a) | 75,000 | 58,814 |
| Assured Guaranty US Holdings, Inc. | ||
| 3.15%, 06/15/31 (a) | 125,000 | 108,664 |
| Athene Holding Ltd. | ||
| 4.13%, 01/12/28 (a) | 150,000 | 140,251 |
| 6.15%, 04/03/30 (a) | 225,000 | 224,860 |
| 3.50%, 01/15/31 (a) | 125,000 | 105,911 |
| AXA S.A. | ||
| 8.60%, 12/15/30 | 325,000 | 386,230 |
| AXIS Specialty Finance LLC | ||
| 3.90%, 07/15/29 (a) | 75,000 | 70,437 |
| 4.90%, 01/15/40 (a)(b) | 75,000 | 64,393 |
| AXIS Specialty Finance PLC | ||
| 4.00%, 12/06/27 (a) | 125,000 | 121,346 |
| Berkshire Hathaway Finance Corp. | ||
| 1.85%, 03/12/30 (a) | 125,000 | 107,040 |
| 1.45%, 10/15/30 (a) | 175,000 | 142,271 |
| 2.88%, 03/15/32 (a) | 300,000 | 269,433 |
| Brighthouse Financial, Inc. | ||
| 5.63%, 05/15/30 (a) | 100,000 | 97,241 |
143
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Brown & Brown, Inc. | ||
| 4.50%, 03/15/29 (a) | 110,000 | 108,198 |
| 2.38%, 03/15/31 (a) | 100,000 | 79,381 |
| 4.20%, 03/17/32 (a) | 175,000 | 159,780 |
| Chubb INA Holdings, Inc. | ||
| 1.38%, 09/15/30 (a) | 275,000 | 220,036 |
| Cincinnati Financial Corp. | ||
| 6.92%, 05/15/28 | 125,000 | 141,832 |
| CNA Financial Corp. | ||
| 3.45%, 08/15/27 (a) | 100,000 | 94,968 |
| 3.90%, 05/01/29 (a) | 100,000 | 94,129 |
| 2.05%, 08/15/30 (a) | 100,000 | 80,707 |
| CNO Financial Group, Inc. | ||
| 5.25%, 05/30/29 (a) | 125,000 | 121,371 |
| Corebridge Financial, Inc. | ||
| 3.85%, 04/05/29 (a)(d) | 250,000 | 231,117 |
| 3.90%, 04/05/32 (a)(d) | 400,000 | 359,228 |
| Enstar Group Ltd. | ||
| 4.95%, 06/01/29 (a) | 100,000 | 96,088 |
| 3.10%, 09/01/31 (a) | 125,000 | 99,441 |
| Equitable Holdings, Inc. | ||
| 4.35%, 04/20/28 (a) | 450,000 | 435,226 |
| Fairfax Financial Holdings Ltd. | ||
| 4.85%, 04/17/28 (a) | 75,000 | 74,626 |
| 4.63%, 04/29/30 (a) | 175,000 | 168,273 |
| 3.38%, 03/03/31 (a) | 150,000 | 129,796 |
| Fidelity National Financial, Inc. | ||
| 4.50%, 08/15/28 (a) | 200,000 | 193,212 |
| 3.40%, 06/15/30 (a) | 175,000 | 153,823 |
| 2.45%, 03/15/31 (a) | 125,000 | 98,974 |
| First American Financial Corp. | ||
| 4.00%, 05/15/30 (a) | 200,000 | 179,846 |
| 2.40%, 08/15/31 (a) | 150,000 | 115,353 |
| Globe Life, Inc. | ||
| 4.55%, 09/15/28 (a) | 50,000 | 49,376 |
| 2.15%, 08/15/30 (a) | 200,000 | 163,840 |
| Hanover Insurance Group, Inc. | ||
| 2.50%, 09/01/30 (a) | 50,000 | 41,876 |
| Hartford Financial Services Group, Inc. | ||
| 2.80%, 08/19/29 (a) | 100,000 | 89,261 |
| Humana, Inc. | ||
| 3.70%, 03/23/29 (a) | 200,000 | 189,532 |
| 3.13%, 08/15/29 (a) | 125,000 | 113,136 |
| 4.88%, 04/01/30 (a) | 50,000 | 50,565 |
| 2.15%, 02/03/32 (a) | 250,000 | 202,705 |
| Jackson Financial, Inc. | ||
| 3.13%, 11/23/31 (a)(d) | 125,000 | 100,366 |
| Kemper Corp. | ||
| 2.40%, 09/30/30 (a) | 100,000 | 81,661 |
| 3.80%, 02/23/32 (a) | 100,000 | 88,801 |
| Lincoln National Corp. | ||
| 3.80%, 03/01/28 (a) | 100,000 | 95,929 |
| 3.05%, 01/15/30 (a) | 125,000 | 109,718 |
| 3.40%, 01/15/31 (a) | 100,000 | 89,322 |
| 3.40%, 03/01/32 (a) | 125,000 | 109,175 |
| Loews Corp. | ||
| 3.20%, 05/15/30 (a) | 100,000 | 91,124 |
| Manulife Financial Corp. | ||
| 3.70%, 03/16/32 (a) | 175,000 | 161,562 |
| Markel Corp. | ||
| 3.50%, 11/01/27 (a) | 100,000 | 96,066 |
| 3.35%, 09/17/29 (a) | 25,000 | 22,939 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Marsh & McLennan Cos., Inc. | ||
| 4.38%, 03/15/29 (a) | 350,000 | 346,496 |
| 2.25%, 11/15/30 (a) | 185,000 | 156,562 |
| 2.38%, 12/15/31 (a) | 100,000 | 84,433 |
| MetLife, Inc. | ||
| 4.55%, 03/23/30 (a) | 225,000 | 227,203 |
| PartnerRe Finance B LLC | ||
| 3.70%, 07/02/29 (a) | 95,000 | 90,595 |
| 4.50%, 10/01/50 (a)(b) | 100,000 | 83,969 |
| Primerica, Inc. | ||
| 2.80%, 11/19/31 (a) | 125,000 | 105,416 |
| Principal Financial Group, Inc. | ||
| 3.70%, 05/15/29 (a) | 215,000 | 202,315 |
| 2.13%, 06/15/30 (a) | 100,000 | 82,689 |
| Prudential Financial, Inc. | ||
| 3.88%, 03/27/28 (a) | 49,000 | 48,152 |
| 2.10%, 03/10/30 (a) | 150,000 | 127,880 |
| 4.50%, 09/15/47 (a)(b) | 175,000 | 158,387 |
| 5.70%, 09/15/48 (a)(b) | 200,000 | 195,454 |
| 3.70%, 10/01/50 (a)(b) | 150,000 | 124,574 |
| 5.13%, 03/01/52 (a)(b) | 250,000 | 231,132 |
| Prudential PLC | ||
| 3.13%, 04/14/30 | 250,000 | 230,195 |
| 3.63%, 03/24/32 (a) | 150,000 | 139,099 |
| Reinsurance Group of America, Inc. | ||
| 3.90%, 05/15/29 (a) | 175,000 | 164,260 |
| 3.15%, 06/15/30 (a) | 125,000 | 110,733 |
| RenaissanceRe Finance, Inc. | ||
| 3.45%, 07/01/27 (a) | 75,000 | 71,683 |
| RenaissanceRe Holdings Ltd. | ||
| 3.60%, 04/15/29 (a) | 50,000 | 47,017 |
| Stewart Information Services Corp. | ||
| 3.60%, 11/15/31 (a) | 150,000 | 124,656 |
| The Progressive Corp. | ||
| 4.00%, 03/01/29 (a) | 100,000 | 99,251 |
| 3.20%, 03/26/30 (a) | 125,000 | 116,348 |
| 3.00%, 03/15/32 (a) | 150,000 | 135,441 |
| UnitedHealth Group, Inc. | ||
| 2.95%, 10/15/27 | 225,000 | 215,818 |
| 3.85%, 06/15/28 | 275,000 | 273,867 |
| 3.88%, 12/15/28 | 150,000 | 149,302 |
| 4.00%, 05/15/29 (a) | 225,000 | 223,432 |
| 2.88%, 08/15/29 | 275,000 | 254,411 |
| 2.00%, 05/15/30 | 300,000 | 257,292 |
| 2.30%, 05/15/31 (a) | 350,000 | 303,404 |
| 4.20%, 05/15/32 (a) | 350,000 | 350,287 |
| Unum Group | ||
| 4.00%, 06/15/29 (a) | 100,000 | 94,605 |
| Voya Financial, Inc. | ||
| 4.70%, 01/23/48 (a)(b) | 25,000 | 20,462 |
| Willis North America, Inc. | ||
| 4.65%, 06/15/27 (a) | 150,000 | 147,714 |
| 4.50%, 09/15/28 (a) | 125,000 | 120,470 |
| 2.95%, 09/15/29 (a) | 200,000 | 171,538 |
| 16,636,517 | ||
| REITs 5.5% | ||
| Agree LP | ||
| 2.00%, 06/15/28 (a) | 150,000 | 128,142 |
| Alexandria Real Estate Equities, Inc. | ||
| 3.95%, 01/15/28 (a) | 50,000 | 48,496 |
| 4.50%, 07/30/29 (a) | 175,000 | 170,833 |
| 2.75%, 12/15/29 (a) | 100,000 | 87,674 |
| 4.70%, 07/01/30 (a) | 100,000 | 98,773 |
144
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 4.90%, 12/15/30 (a) | 150,000 | 149,016 |
| 3.38%, 08/15/31 (a) | 125,000 | 110,591 |
| 2.00%, 05/18/32 (a) | 50,000 | 39,514 |
| American Assets Trust LP | ||
| 3.38%, 02/01/31 (a) | 100,000 | 85,452 |
| American Campus Communities Operating Partnership LP | ||
| 3.63%, 11/15/27 (a) | 50,000 | 49,320 |
| 2.25%, 01/15/29 (a) | 50,000 | 46,313 |
| 2.85%, 02/01/30 (a) | 100,000 | 94,984 |
| 3.88%, 01/30/31 (a) | 75,000 | 74,023 |
| American Homes 4 Rent LP | ||
| 4.25%, 02/15/28 (a) | 100,000 | 95,586 |
| 4.90%, 02/15/29 (a) | 30,000 | 29,349 |
| 2.38%, 07/15/31 (a) | 150,000 | 120,042 |
| 3.63%, 04/15/32 (a) | 225,000 | 197,066 |
| AvalonBay Communities, Inc. | ||
| 3.20%, 01/15/28 (a) | 100,000 | 94,424 |
| 1.90%, 12/01/28 (a) | 175,000 | 152,406 |
| 3.30%, 06/01/29 (a) | 150,000 | 139,402 |
| 2.30%, 03/01/30 (a) | 50,000 | 43,067 |
| 2.45%, 01/15/31 (a) | 150,000 | 129,594 |
| 2.05%, 01/15/32 (a) | 175,000 | 145,397 |
| Boston Properties LP | ||
| 4.50%, 12/01/28 (a) | 300,000 | 291,990 |
| 3.40%, 06/21/29 (a) | 100,000 | 89,695 |
| 2.90%, 03/15/30 (a) | 285,000 | 242,008 |
| 3.25%, 01/30/31 (a) | 200,000 | 171,864 |
| 2.55%, 04/01/32 (a) | 200,000 | 159,048 |
| Brandywine Operating Partnership LP | ||
| 3.95%, 11/15/27 (a) | 150,000 | 141,139 |
| Brixmor Operating Partnership LP | ||
| 2.25%, 04/01/28 (a) | 50,000 | 42,990 |
| 4.13%, 05/15/29 (a) | 75,000 | 69,902 |
| 4.05%, 07/01/30 (a) | 275,000 | 247,981 |
| 2.50%, 08/16/31 (a) | 150,000 | 118,133 |
| Broadstone Net Lease LLC | ||
| 2.60%, 09/15/31 (a) | 125,000 | 102,103 |
| Camden Property Trust | ||
| 4.10%, 10/15/28 (a) | 25,000 | 24,591 |
| 3.15%, 07/01/29 (a) | 175,000 | 160,181 |
| 2.80%, 05/15/30 (a) | 300,000 | 265,392 |
| Corporate Office Properties LP | ||
| 2.75%, 04/15/31 (a) | 325,000 | 263,965 |
| CubeSmart LP | ||
| 2.25%, 12/15/28 (a) | 125,000 | 106,876 |
| 4.38%, 02/15/29 (a) | 75,000 | 72,645 |
| 3.00%, 02/15/30 (a) | 75,000 | 66,075 |
| 2.00%, 02/15/31 (a) | 125,000 | 99,838 |
| 2.50%, 02/15/32 (a) | 125,000 | 101,616 |
| Digital Realty Trust LP | ||
| 3.70%, 08/15/27 (a) | 200,000 | 190,778 |
| 4.45%, 07/15/28 (a) | 250,000 | 242,655 |
| 3.60%, 07/01/29 (a) | 175,000 | 158,931 |
| Duke Realty LP | ||
| 3.38%, 12/15/27 (a) | 150,000 | 142,087 |
| 4.00%, 09/15/28 (a) | 50,000 | 48,625 |
| 2.88%, 11/15/29 (a) | 75,000 | 67,628 |
| 1.75%, 07/01/30 (a) | 160,000 | 131,099 |
| 1.75%, 02/01/31 (a) | 200,000 | 163,170 |
| EPR Properties | ||
| 4.95%, 04/15/28 (a) | 150,000 | 137,403 |
| 3.75%, 08/15/29 (a) | 125,000 | 104,140 |
| 3.60%, 11/15/31 (a) | 75,000 | 59,525 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| ERP Operating LP | ||
| 3.25%, 08/01/27 (a) | 50,000 | 47,432 |
| 3.50%, 03/01/28 (a) | 250,000 | 238,337 |
| 4.15%, 12/01/28 (a) | 100,000 | 98,150 |
| 3.00%, 07/01/29 (a) | 70,000 | 63,526 |
| 2.50%, 02/15/30 (a) | 125,000 | 109,484 |
| 1.85%, 08/01/31 (a) | 100,000 | 82,203 |
| Essential Properties LP | ||
| 2.95%, 07/15/31 (a) | 100,000 | 78,489 |
| Essex Portfolio LP | ||
| 1.70%, 03/01/28 (a) | 100,000 | 85,996 |
| 4.00%, 03/01/29 (a) | 150,000 | 143,542 |
| 3.00%, 01/15/30 (a) | 50,000 | 44,394 |
| 1.65%, 01/15/31 (a) | 75,000 | 58,772 |
| 2.65%, 03/15/32 (a) | 275,000 | 228,506 |
| Extra Space Storage LP | ||
| 2.55%, 06/01/31 (a) | 125,000 | 103,100 |
| 2.35%, 03/15/32 (a) | 175,000 | 139,473 |
| Federal Realty Investment Trust | ||
| 3.25%, 07/15/27 (a) | 100,000 | 94,042 |
| 3.20%, 06/15/29 (a) | 150,000 | 135,412 |
| 3.50%, 06/01/30 (a) | 125,000 | 113,533 |
| Healthcare Realty Trust, Inc. | ||
| 2.40%, 03/15/30 (a) | 175,000 | 146,032 |
| 2.05%, 03/15/31 (a) | 50,000 | 39,414 |
| Healthcare Trust of America Holdings LP | ||
| 3.75%, 07/01/27 (a) | 125,000 | 118,779 |
| 3.10%, 02/15/30 (a) | 125,000 | 107,751 |
| 2.00%, 03/15/31 (a) | 100,000 | 77,663 |
| Healthpeak Properties, Inc. | ||
| 2.13%, 12/01/28 (a) | 100,000 | 86,516 |
| 3.50%, 07/15/29 (a) | 175,000 | 161,789 |
| 3.00%, 01/15/30 (a) | 190,000 | 167,901 |
| 2.88%, 01/15/31 (a) | 125,000 | 107,868 |
| Highwoods Realty LP | ||
| 4.13%, 03/15/28 (a) | 75,000 | 71,853 |
| 4.20%, 04/15/29 (a) | 75,000 | 70,297 |
| 3.05%, 02/15/30 (a) | 50,000 | 43,495 |
| 2.60%, 02/01/31 (a) | 125,000 | 103,340 |
| Host Hotels & Resorts LP | ||
| 3.38%, 12/15/29 (a) | 100,000 | 84,671 |
| 3.50%, 09/15/30 (a) | 200,000 | 170,914 |
| 2.90%, 12/15/31 (a) | 100,000 | 79,539 |
| Hudson Pacific Properties LP | ||
| 3.95%, 11/01/27 (a) | 45,000 | 42,965 |
| 4.65%, 04/01/29 (a) | 150,000 | 144,903 |
| 3.25%, 01/15/30 (a) | 125,000 | 109,021 |
| Invitation Homes Operating Partnership LP | ||
| 2.30%, 11/15/28 (a) | 150,000 | 126,496 |
| 2.00%, 08/15/31 (a) | 150,000 | 115,634 |
| Kilroy Realty LP | ||
| 4.25%, 08/15/29 (a) | 70,000 | 66,167 |
| 3.05%, 02/15/30 (a) | 300,000 | 257,100 |
| Kimco Realty Corp. | ||
| 1.90%, 03/01/28 (a) | 50,000 | 43,341 |
| 2.70%, 10/01/30 (a) | 100,000 | 86,236 |
| 2.25%, 12/01/31 (a) | 100,000 | 81,060 |
| 3.20%, 04/01/32 (a) | 150,000 | 131,317 |
| Lexington Realty Trust | ||
| 2.70%, 09/15/30 (a) | 175,000 | 144,389 |
| Life Storage LP | ||
| 3.88%, 12/15/27 (a) | 95,000 | 90,822 |
| 4.00%, 06/15/29 (a) | 55,000 | 50,543 |
145
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.20%, 10/15/30 (a) | 150,000 | 120,522 |
| 2.40%, 10/15/31 (a) | 150,000 | 119,607 |
| LXP Industrial Trust | ||
| 2.38%, 10/01/31 (a) | 75,000 | 58,315 |
| Mid-America Apartments LP | ||
| 4.20%, 06/15/28 (a) | 75,000 | 73,436 |
| 3.95%, 03/15/29 (a) | 115,000 | 110,146 |
| 2.75%, 03/15/30 (a) | 100,000 | 87,368 |
| 1.70%, 02/15/31 (a) | 150,000 | 119,058 |
| National Health Investors, Inc. | ||
| 3.00%, 02/01/31 (a) | 125,000 | 96,889 |
| National Retail Properties, Inc. | ||
| 3.50%, 10/15/27 (a) | 100,000 | 93,741 |
| 4.30%, 10/15/28 (a) | 50,000 | 48,626 |
| 2.50%, 04/15/30 (a) | 100,000 | 85,212 |
| Office Properties Income Trust | ||
| 3.45%, 10/15/31 (a) | 125,000 | 93,254 |
| Omega Healthcare Investors, Inc. | ||
| 4.75%, 01/15/28 (a) | 125,000 | 118,817 |
| 3.63%, 10/01/29 (a) | 150,000 | 126,907 |
| 3.38%, 02/01/31 (a) | 150,000 | 121,882 |
| Phillips Edison Grocery Center Operating Partnership I LP | ||
| 2.63%, 11/15/31 (a) | 150,000 | 116,606 |
| Physicians Realty LP | ||
| 3.95%, 01/15/28 (a) | 150,000 | 143,247 |
| 2.63%, 11/01/31 (a) | 75,000 | 60,668 |
| Piedmont Operating Partnership LP | ||
| 3.15%, 08/15/30 (a) | 50,000 | 41,571 |
| 2.75%, 04/01/32 (a) | 100,000 | 77,328 |
| Prologis LP | ||
| 3.88%, 09/15/28 (a) | 125,000 | 121,757 |
| 4.38%, 02/01/29 (a) | 25,000 | 25,001 |
| 2.25%, 04/15/30 (a) | 225,000 | 194,848 |
| 1.25%, 10/15/30 (a) | 125,000 | 99,621 |
| 1.63%, 03/15/31 (a) | 175,000 | 141,657 |
| Public Storage | ||
| 3.09%, 09/15/27 (a) | 100,000 | 95,003 |
| 1.85%, 05/01/28 (a) | 250,000 | 217,410 |
| 1.95%, 11/09/28 (a) | 150,000 | 129,868 |
| 3.39%, 05/01/29 (a) | 100,000 | 93,093 |
| 2.30%, 05/01/31 (a) | 175,000 | 147,408 |
| 2.25%, 11/09/31 (a) | 100,000 | 82,980 |
| Realty Income Corp. | ||
| 3.95%, 08/15/27 (a) | 125,000 | 122,395 |
| 3.40%, 01/15/28 (a) | 150,000 | 142,000 |
| 3.65%, 01/15/28 (a) | 275,000 | 264,500 |
| 2.20%, 06/15/28 (a) | 100,000 | 88,110 |
| 3.25%, 06/15/29 (a) | 50,000 | 46,602 |
| 3.10%, 12/15/29 (a) | 170,000 | 154,882 |
| 3.25%, 01/15/31 (a) | 150,000 | 136,914 |
| Regency Centers LP | ||
| 4.13%, 03/15/28 (a) | 75,000 | 72,332 |
| 2.95%, 09/15/29 (a) | 50,000 | 44,056 |
| 3.70%, 06/15/30 (a) | 100,000 | 90,850 |
| Retail Properties of America, Inc. | ||
| 4.75%, 09/15/30 (a) | 125,000 | 116,649 |
| Rexford Industrial Realty LP | ||
| 2.13%, 12/01/30 (a) | 75,000 | 60,130 |
| 2.15%, 09/01/31 (a) | 100,000 | 78,619 |
| Sabra Health Care LP | ||
| 3.90%, 10/15/29 (a) | 90,000 | 79,578 |
| 3.20%, 12/01/31 (a) | 200,000 | 159,002 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Safehold Operating Partnership LP | ||
| 2.80%, 06/15/31 (a) | 175,000 | 142,142 |
| 2.85%, 01/15/32 (a) | 50,000 | 40,234 |
| Simon Property Group LP | ||
| 3.38%, 12/01/27 (a) | 150,000 | 141,054 |
| 1.75%, 02/01/28 (a) | 200,000 | 170,886 |
| 2.45%, 09/13/29 (a) | 225,000 | 191,128 |
| 2.65%, 07/15/30 (a) | 225,000 | 191,104 |
| 2.20%, 02/01/31 (a) | 150,000 | 121,902 |
| 2.25%, 01/15/32 (a) | 225,000 | 179,532 |
| 2.65%, 02/01/32 (a) | 125,000 | 103,446 |
| Spirit Realty LP | ||
| 2.10%, 03/15/28 (a) | 50,000 | 41,954 |
| 4.00%, 07/15/29 (a) | 125,000 | 114,249 |
| 3.40%, 01/15/30 (a) | 125,000 | 108,128 |
| 3.20%, 02/15/31 (a) | 100,000 | 83,724 |
| 2.70%, 02/15/32 (a) | 100,000 | 78,450 |
| STORE Capital Corp. | ||
| 4.50%, 03/15/28 (a) | 70,000 | 68,529 |
| 4.63%, 03/15/29 (a) | 75,000 | 73,457 |
| 2.75%, 11/18/30 (a) | 250,000 | 205,880 |
| Sun Communities Operating LP | ||
| 2.30%, 11/01/28 (a) | 75,000 | 64,253 |
| 2.70%, 07/15/31 (a) | 150,000 | 120,955 |
| 4.20%, 04/15/32 (a) | 200,000 | 181,236 |
| Tanger Properties LP | ||
| 3.88%, 07/15/27 (a) | 100,000 | 94,721 |
| 2.75%, 09/01/31 (a) | 100,000 | 78,445 |
| UDR, Inc. | ||
| 3.50%, 07/01/27 (a) | 75,000 | 71,606 |
| 3.50%, 01/15/28 (a) | 50,000 | 47,196 |
| 4.40%, 01/26/29 (a) | 100,000 | 97,830 |
| 3.20%, 01/15/30 (a) | 175,000 | 157,484 |
| 3.00%, 08/15/31 (a) | 125,000 | 107,031 |
| Ventas Realty LP | ||
| 4.00%, 03/01/28 (a) | 296,000 | 283,544 |
| 4.40%, 01/15/29 (a) | 150,000 | 144,331 |
| 3.00%, 01/15/30 (a) | 145,000 | 127,365 |
| 4.75%, 11/15/30 (a) | 50,000 | 48,877 |
| 2.50%, 09/01/31 (a) | 100,000 | 82,507 |
| Vornado Realty LP | ||
| 3.40%, 06/01/31 (a) | 150,000 | 126,795 |
| Welltower, Inc. | ||
| 4.25%, 04/15/28 (a) | 200,000 | 194,746 |
| 2.05%, 01/15/29 (a) | 75,000 | 63,251 |
| 4.13%, 03/15/29 (a) | 100,000 | 94,819 |
| 3.10%, 01/15/30 (a) | 150,000 | 132,438 |
| 2.75%, 01/15/31 (a) | 100,000 | 84,521 |
| 2.80%, 06/01/31 (a) | 250,000 | 211,182 |
| 2.75%, 01/15/32 (a) | 150,000 | 125,569 |
| 3.85%, 06/15/32 (a) | 200,000 | 182,594 |
| WP Carey, Inc. | ||
| 3.85%, 07/15/29 (a) | 80,000 | 74,752 |
| 2.40%, 02/01/31 (a) | 100,000 | 81,865 |
| 2.45%, 02/01/32 (a) | 75,000 | 60,670 |
| 21,720,591 | ||
| 139,839,992 | ||
| Industrial 56.2% | ||
| Basic Industry 2.8% | ||
| Air Products and Chemicals, Inc. | ||
| 2.05%, 05/15/30 (a) | 50,000 | 43,344 |
146
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Albemarle Corp. | ||
| 5.05%, 06/01/32 (a) | 150,000 | 146,566 |
| AngloGold Ashanti Holdings PLC | ||
| 3.38%, 11/01/28 (a) | 200,000 | 170,730 |
| 3.75%, 10/01/30 (a) | 200,000 | 166,500 |
| ArcelorMittal S.A. | ||
| 4.25%, 07/16/29 (e) | 100,000 | 95,054 |
| Cabot Corp. | ||
| 4.00%, 07/01/29 (a) | 50,000 | 46,493 |
| 5.00%, 06/30/32 (a) | 175,000 | 170,112 |
| Celulosa Arauco y Constitucion S.A. | ||
| 3.88%, 11/02/27 (a) | 200,000 | 184,706 |
| Dow Chemical Co. | ||
| 4.80%, 11/30/28 (a) | 90,000 | 90,492 |
| 7.38%, 11/01/29 | 200,000 | 231,142 |
| 2.10%, 11/15/30 (a) | 250,000 | 206,415 |
| DuPont de Nemours, Inc. | ||
| 4.73%, 11/15/28 (a) | 570,000 | 572,628 |
| Eastman Chemical Co. | ||
| 4.50%, 12/01/28 (a) | 138,000 | 135,628 |
| Ecolab, Inc. | ||
| 3.25%, 12/01/27 (a) | 25,000 | 24,376 |
| 4.80%, 03/24/30 (a) | 125,000 | 129,695 |
| 1.30%, 01/30/31 (a) | 150,000 | 120,476 |
| 2.13%, 02/01/32 (a) | 300,000 | 253,425 |
| EI du Pont de Nemours and Co. | ||
| 2.30%, 07/15/30 (a) | 200,000 | 173,526 |
| FMC Corp. | ||
| 3.45%, 10/01/29 (a) | 150,000 | 136,501 |
| Freeport-McMoRan, Inc. | ||
| 5.00%, 09/01/27 (a) | 200,000 | 198,616 |
| 4.13%, 03/01/28 (a) | 175,000 | 162,538 |
| 4.38%, 08/01/28 (a) | 200,000 | 188,042 |
| 5.25%, 09/01/29 (a) | 150,000 | 143,434 |
| 4.25%, 03/01/30 (a) | 200,000 | 183,534 |
| 4.63%, 08/01/30 (a) | 225,000 | 208,813 |
| Georgia-Pacific LLC | ||
| 8.88%, 05/15/31 | 100,000 | 130,568 |
| Huntsman International LLC | ||
| 4.50%, 05/01/29 (a) | 125,000 | 117,836 |
| 2.95%, 06/15/31 (a) | 175,000 | 145,428 |
| International Flavors & Fragrances, Inc. | ||
| 4.45%, 09/26/28 (a) | 125,000 | 122,290 |
| Kinross Gold Corp. | ||
| 4.50%, 07/15/27 (a) | 100,000 | 97,491 |
| Linde, Inc. | ||
| 1.10%, 08/10/30 (a) | 125,000 | 100,288 |
| LYB International Finance III LLC | ||
| 2.25%, 10/01/30 (a) | 150,000 | 123,858 |
| Mosaic Co. | ||
| 4.05%, 11/15/27 (a) | 150,000 | 146,811 |
| NewMarket Corp. | ||
| 2.70%, 03/18/31 (a) | 125,000 | 103,339 |
| Newmont Corp. | ||
| 2.80%, 10/01/29 (a) | 125,000 | 110,833 |
| 2.25%, 10/01/30 (a) | 225,000 | 187,306 |
| Nucor Corp. | ||
| 3.95%, 05/01/28 (a) | 100,000 | 97,165 |
| 2.70%, 06/01/30 (a) | 100,000 | 86,811 |
| 3.13%, 04/01/32 (a) | 100,000 | 87,314 |
| Nutrien Ltd. | ||
| 4.20%, 04/01/29 (a) | 100,000 | 97,260 |
| 2.95%, 05/13/30 (a) | 100,000 | 89,241 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Packaging Corp. of America | ||
| 3.40%, 12/15/27 (a) | 30,000 | 28,889 |
| 3.00%, 12/15/29 (a) | 210,000 | 188,582 |
| PPG Industries, Inc. | ||
| 3.75%, 03/15/28 (a) | 175,000 | 171,542 |
| 2.80%, 08/15/29 (a) | 125,000 | 113,556 |
| Rayonier LP | ||
| 2.75%, 05/17/31 (a) | 100,000 | 83,845 |
| Reliance Steel & Aluminum Co. | ||
| 2.15%, 08/15/30 (a) | 100,000 | 81,032 |
| Rio Tinto Finance USA Ltd. | ||
| 7.13%, 07/15/28 | 325,000 | 374,530 |
| Rohm and Haas Co. | ||
| 7.85%, 07/15/29 | 150,000 | 178,614 |
| RPM International, Inc. | ||
| 4.55%, 03/01/29 (a) | 100,000 | 96,964 |
| 2.95%, 01/15/32 (a) | 75,000 | 62,286 |
| Sherwin-Williams Co. | ||
| 2.95%, 08/15/29 (a) | 135,000 | 120,947 |
| 2.30%, 05/15/30 (a) | 100,000 | 84,428 |
| 2.20%, 03/15/32 (a) | 200,000 | 161,508 |
| Steel Dynamics, Inc. | ||
| 1.65%, 10/15/27 (a) | 50,000 | 42,941 |
| 3.45%, 04/15/30 (a) | 175,000 | 155,977 |
| 3.25%, 01/15/31 (a) | 100,000 | 87,024 |
| Suzano Austria GmbH | ||
| 2.50%, 09/15/28 (a) | 100,000 | 81,247 |
| 6.00%, 01/15/29 (a) | 500,000 | 493,915 |
| 5.00%, 01/15/30 (a) | 300,000 | 273,450 |
| 3.75%, 01/15/31 (a) | 200,000 | 161,732 |
| 3.13%, 01/15/32 (a) | 225,000 | 169,823 |
| Teck Resources Ltd. | ||
| 3.90%, 07/15/30 (a) | 125,000 | 115,040 |
| Vale Overseas Ltd. | ||
| 3.75%, 07/08/30 (a) | 375,000 | 328,346 |
| WestRock MWV LLC | ||
| 8.20%, 01/15/30 | 75,000 | 89,162 |
| 7.95%, 02/15/31 | 50,000 | 59,102 |
| Weyerhaeuser Co. | ||
| 6.95%, 10/01/27 | 75,000 | 83,184 |
| 4.00%, 11/15/29 (a) | 200,000 | 189,784 |
| 4.00%, 04/15/30 (a) | 125,000 | 117,725 |
| 7.38%, 03/15/32 | 150,000 | 173,736 |
| WRKCo, Inc. | ||
| 3.38%, 09/15/27 (a) | 125,000 | 118,746 |
| 4.00%, 03/15/28 (a) | 75,000 | 73,733 |
| 3.90%, 06/01/28 (a) | 350,000 | 338,530 |
| 4.90%, 03/15/29 (a) | 125,000 | 125,894 |
| 4.20%, 06/01/32 (a) | 100,000 | 94,829 |
| Yamana Gold, Inc. | ||
| 2.63%, 08/15/31 (a)(d) | 100,000 | 80,634 |
| 11,227,902 | ||
| Capital Goods 6.1% | ||
| 3M Co. | ||
| 2.88%, 10/15/27 (a) | 150,000 | 144,256 |
| 3.63%, 09/14/28 (a) | 50,000 | 49,281 |
| 3.38%, 03/01/29 (a) | 150,000 | 144,420 |
| 2.38%, 08/26/29 (a) | 500,000 | 448,010 |
| 3.05%, 04/15/30 (a) | 100,000 | 93,004 |
| Acuity Brands Lighting, Inc. | ||
| 2.15%, 12/15/30 (a) | 75,000 | 59,687 |
147
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Allegion PLC | ||
| 3.50%, 10/01/29 (a) | 250,000 | 222,205 |
| Amcor Finance USA, Inc. | ||
| 4.50%, 05/15/28 (a) | 140,000 | 137,942 |
| Amcor Flexibles North America, Inc. | ||
| 2.63%, 06/19/30 (a) | 300,000 | 246,366 |
| Amphenol Corp. | ||
| 4.35%, 06/01/29 (a) | 100,000 | 98,331 |
| 2.80%, 02/15/30 (a) | 250,000 | 217,865 |
| 2.20%, 09/15/31 (a) | 150,000 | 122,770 |
| AptarGroup, Inc. | ||
| 3.60%, 03/15/32 (a) | 125,000 | 111,092 |
| Avery Dennison Corp. | ||
| 4.88%, 12/06/28 (a) | 145,000 | 145,405 |
| 2.65%, 04/30/30 (a) | 75,000 | 62,727 |
| 2.25%, 02/15/32 (a) | 150,000 | 118,311 |
| Boeing Co. | ||
| 3.25%, 02/01/28 (a) | 150,000 | 134,697 |
| 3.25%, 03/01/28 (a) | 140,000 | 126,010 |
| 3.45%, 11/01/28 (a) | 375,000 | 335,291 |
| 3.20%, 03/01/29 (a) | 270,000 | 234,430 |
| 2.95%, 02/01/30 (a) | 195,000 | 162,109 |
| 5.15%, 05/01/30 (a) | 925,000 | 888,028 |
| 3.63%, 02/01/31 (a) | 225,000 | 194,814 |
| Carlisle Cos., Inc. | ||
| 3.75%, 12/01/27 (a) | 250,000 | 238,215 |
| 2.75%, 03/01/30 (a) | 75,000 | 63,070 |
| 2.20%, 03/01/32 (a) | 225,000 | 176,506 |
| Carrier Global Corp. | ||
| 2.72%, 02/15/30 (a) | 400,000 | 346,544 |
| 2.70%, 02/15/31 (a)(d) | 150,000 | 127,182 |
| Caterpillar Financial Services Corp. | ||
| 1.10%, 09/14/27 | 150,000 | 131,790 |
| Caterpillar, Inc. | ||
| 2.60%, 09/19/29 (a) | 105,000 | 96,074 |
| 2.60%, 04/09/30 (a) | 150,000 | 136,255 |
| 1.90%, 03/12/31 (a)(e) | 250,000 | 213,495 |
| CNH Industrial NV | ||
| 3.85%, 11/15/27 (a) | 90,000 | 84,891 |
| Deere & Co. | ||
| 5.38%, 10/16/29 | 50,000 | 54,357 |
| 3.10%, 04/15/30 (a) | 350,000 | 327,393 |
| 7.13%, 03/03/31 | 50,000 | 60,450 |
| Dover Corp. | ||
| 2.95%, 11/04/29 (a) | 125,000 | 113,937 |
| Eagle Materials, Inc. | ||
| 2.50%, 07/01/31 (a) | 150,000 | 118,524 |
| Eaton Corp. | ||
| 3.10%, 09/15/27 (a) | 125,000 | 119,537 |
| Emerson Electric Co. | ||
| 1.80%, 10/15/27 (a) | 125,000 | 112,166 |
| 2.00%, 12/21/28 (a) | 50,000 | 44,225 |
| 1.95%, 10/15/30 (a) | 200,000 | 168,744 |
| 2.20%, 12/21/31 (a) | 200,000 | 169,380 |
| Flowserve Corp. | ||
| 3.50%, 10/01/30 (a) | 225,000 | 191,664 |
| 2.80%, 01/15/32 (a) | 125,000 | 97,425 |
| Fortune Brands Home & Security, Inc. | ||
| 3.25%, 09/15/29 (a) | 175,000 | 151,476 |
| 4.00%, 03/25/32 (a) | 100,000 | 88,671 |
| GE Capital Funding LLC | ||
| 4.55%, 05/15/32 (a) | 300,000 | 289,401 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| General Dynamics Corp. | ||
| 3.75%, 05/15/28 (a) | 100,000 | 98,552 |
| 3.63%, 04/01/30 (a) | 375,000 | 363,589 |
| 2.25%, 06/01/31 (a) | 100,000 | 87,322 |
| General Electric Co. | ||
| 6.75%, 03/15/32 | 550,000 | 615,565 |
| Honeywell International, Inc. | ||
| 2.70%, 08/15/29 (a) | 75,000 | 69,010 |
| 1.95%, 06/01/30 (a) | 225,000 | 193,572 |
| 1.75%, 09/01/31 (a) | 300,000 | 248,562 |
| Hubbell, Inc. | ||
| 3.15%, 08/15/27 (a) | 50,000 | 47,209 |
| 3.50%, 02/15/28 (a) | 125,000 | 120,130 |
| 2.30%, 03/15/31 (a) | 75,000 | 63,220 |
| Huntington Ingalls Industries, Inc. | ||
| 3.48%, 12/01/27 (a) | 50,000 | 46,917 |
| 2.04%, 08/16/28 (a) | 250,000 | 214,000 |
| 4.20%, 05/01/30 (a) | 375,000 | 353,685 |
| IDEX Corp. | ||
| 3.00%, 05/01/30 (a) | 125,000 | 109,130 |
| 2.63%, 06/15/31 (a) | 125,000 | 103,734 |
| John Deere Capital Corp. | ||
| 2.80%, 09/08/27 | 135,000 | 128,872 |
| 3.05%, 01/06/28 | 100,000 | 96,012 |
| 1.50%, 03/06/28 | 150,000 | 132,435 |
| 3.45%, 03/07/29 | 20,000 | 19,356 |
| 3.35%, 04/18/29 | 200,000 | 192,358 |
| 2.80%, 07/18/29 | 65,000 | 59,913 |
| 2.45%, 01/09/30 | 190,000 | 170,647 |
| 1.45%, 01/15/31 | 275,000 | 224,144 |
| 2.00%, 06/17/31 | 200,000 | 170,216 |
| Johnson Controls International plc | ||
| 1.75%, 09/15/30 (a) | 125,000 | 101,994 |
| 2.00%, 09/16/31 (a) | 150,000 | 119,520 |
| Kennametal, Inc. | ||
| 4.63%, 06/15/28 (a) | 100,000 | 97,677 |
| 2.80%, 03/01/31 (a) | 75,000 | 60,764 |
| L3Harris Technologies, Inc. | ||
| 4.40%, 06/15/28 (a) | 475,000 | 467,190 |
| 2.90%, 12/15/29 (a) | 100,000 | 89,522 |
| 1.80%, 01/15/31 (a) | 125,000 | 99,781 |
| Leggett & Platt, Inc. | ||
| 3.50%, 11/15/27 (a) | 150,000 | 142,237 |
| 4.40%, 03/15/29 (a) | 125,000 | 121,594 |
| Lennox International, Inc. | ||
| 1.70%, 08/01/27 (a) | 50,000 | 43,795 |
| Lockheed Martin Corp. | ||
| 1.85%, 06/15/30 (a) | 50,000 | 42,709 |
| 3.90%, 06/15/32 (a) | 200,000 | 197,414 |
| Martin Marietta Materials, Inc. | ||
| 3.50%, 12/15/27 (a) | 222,000 | 210,092 |
| 2.50%, 03/15/30 (a) | 125,000 | 105,529 |
| 2.40%, 07/15/31 (a) | 175,000 | 143,089 |
| Masco Corp. | ||
| 3.50%, 11/15/27 (a) | 150,000 | 142,509 |
| 2.00%, 10/01/30 (a) | 175,000 | 138,684 |
| Mohawk Industries, Inc. | ||
| 3.63%, 05/15/30 (a) | 140,000 | 125,408 |
| Northrop Grumman Corp. | ||
| 3.25%, 01/15/28 (a) | 415,000 | 394,433 |
| 4.40%, 05/01/30 (a) | 150,000 | 150,001 |
| nVent Finance Sarl | ||
| 4.55%, 04/15/28 (a) | 165,000 | 159,832 |
| 2.75%, 11/15/31 (a) | 100,000 | 81,277 |
148
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Oshkosh Corp. | ||
| 4.60%, 05/15/28 (a) | 25,000 | 24,720 |
| 3.10%, 03/01/30 (a) | 125,000 | 107,358 |
| Otis Worldwide Corp. | ||
| 2.57%, 02/15/30 (a) | 420,000 | 363,481 |
| Owens Corning | ||
| 3.88%, 06/01/30 (a) | 150,000 | 137,460 |
| Parker-Hannifin Corp. | ||
| 4.25%, 09/15/27 (a) | 350,000 | 348,271 |
| 3.25%, 06/14/29 (a) | 225,000 | 205,967 |
| 4.50%, 09/15/29 (a) | 275,000 | 273,798 |
| Pentair Finance Sarl | ||
| 4.50%, 07/01/29 (a) | 150,000 | 143,871 |
| Raytheon Technologies Corp. | ||
| 7.20%, 08/15/27 | 100,000 | 114,197 |
| 4.13%, 11/16/28 (a) | 775,000 | 766,041 |
| 7.50%, 09/15/29 | 100,000 | 118,957 |
| 2.25%, 07/01/30 (a) | 225,000 | 194,200 |
| 1.90%, 09/01/31 (a) | 275,000 | 225,657 |
| 2.38%, 03/15/32 (a) | 250,000 | 211,965 |
| Republic Services, Inc. | ||
| 3.38%, 11/15/27 (a) | 15,000 | 14,339 |
| 3.95%, 05/15/28 (a) | 275,000 | 270,677 |
| 2.30%, 03/01/30 (a) | 50,000 | 42,948 |
| 1.45%, 02/15/31 (a) | 125,000 | 98,343 |
| 1.75%, 02/15/32 (a) | 225,000 | 177,505 |
| Rockwell Automation, Inc. | ||
| 3.50%, 03/01/29 (a) | 50,000 | 48,175 |
| 1.75%, 08/15/31 (a) | 100,000 | 81,963 |
| Roper Technologies, Inc. | ||
| 1.40%, 09/15/27 (a) | 100,000 | 85,744 |
| 4.20%, 09/15/28 (a) | 150,000 | 147,177 |
| 2.95%, 09/15/29 (a) | 275,000 | 242,795 |
| 2.00%, 06/30/30 (a) | 100,000 | 80,931 |
| 1.75%, 02/15/31 (a) | 200,000 | 156,074 |
| Sonoco Products Co. | ||
| 3.13%, 05/01/30 (a) | 160,000 | 140,251 |
| 2.85%, 02/01/32 (a) | 100,000 | 83,673 |
| Stanley Black & Decker, Inc. | ||
| 4.25%, 11/15/28 (a) | 150,000 | 150,201 |
| 2.30%, 03/15/30 (a) | 175,000 | 150,524 |
| 3.00%, 05/15/32 (a) | 100,000 | 88,345 |
| Teledyne Technologies, Inc. | ||
| 2.25%, 04/01/28 (a) | 100,000 | 86,872 |
| 2.75%, 04/01/31 (a) | 200,000 | 167,346 |
| Textron, Inc. | ||
| 3.38%, 03/01/28 (a) | 150,000 | 142,345 |
| 3.90%, 09/17/29 (a) | 75,000 | 70,864 |
| 3.00%, 06/01/30 (a) | 100,000 | 87,469 |
| 2.45%, 03/15/31 (a) | 100,000 | 82,273 |
| Timken Co. | ||
| 4.50%, 12/15/28 (a) | 100,000 | 98,398 |
| Trane Technologies Global Holding Co., Ltd. | ||
| 3.75%, 08/21/28 (a) | 125,000 | 118,364 |
| Trane Technologies Luxembourg Finance S.A. | ||
| 3.80%, 03/21/29 (a) | 165,000 | 155,013 |
| United Rentals North America, Inc. | ||
| 3.88%, 11/15/27 (a) | 150,000 | 139,602 |
| Vontier Corp. | ||
| 2.40%, 04/01/28 (a) | 200,000 | 167,084 |
| 2.95%, 04/01/31 (a) | 150,000 | 117,334 |
| Vulcan Materials Co. | ||
| 3.50%, 06/01/30 (a) | 125,000 | 112,871 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Waste Connections, Inc. | ||
| 4.25%, 12/01/28 (a) | 75,000 | 74,099 |
| 3.50%, 05/01/29 (a) | 200,000 | 188,402 |
| 2.60%, 02/01/30 (a) | 50,000 | 43,779 |
| 2.20%, 01/15/32 (a) | 175,000 | 143,852 |
| 3.20%, 06/01/32 (a) | 50,000 | 44,605 |
| Waste Management, Inc. | ||
| 3.15%, 11/15/27 (a) | 305,000 | 292,928 |
| 1.15%, 03/15/28 (a) | 150,000 | 127,836 |
| 2.00%, 06/01/29 (a) | 575,000 | 500,037 |
| 1.50%, 03/15/31 (a) | 150,000 | 119,626 |
| Westinghouse Air Brake Technologies Corp. | ||
| 4.95%, 09/15/28 (a)(f) | 325,000 | 312,861 |
| Xylem, Inc. | ||
| 1.95%, 01/30/28 (a) | 100,000 | 88,541 |
| 2.25%, 01/30/31 (a) | 100,000 | 83,394 |
| 24,243,027 | ||
| Communications 8.2% | ||
| Activision Blizzard, Inc. | ||
| 1.35%, 09/15/30 (a) | 225,000 | 180,801 |
| America Movil S.A.B. de C.V. | ||
| 3.63%, 04/22/29 (a) | 200,000 | 190,584 |
| 2.88%, 05/07/30 (a) | 250,000 | 224,040 |
| American Tower Corp. | ||
| 3.55%, 07/15/27 (a) | 200,000 | 187,870 |
| 3.60%, 01/15/28 (a) | 100,000 | 93,059 |
| 1.50%, 01/31/28 (a) | 175,000 | 145,714 |
| 3.95%, 03/15/29 (a) | 225,000 | 209,779 |
| 3.80%, 08/15/29 (a) | 375,000 | 344,576 |
| 2.90%, 01/15/30 (a) | 135,000 | 115,363 |
| 2.10%, 06/15/30 (a) | 200,000 | 160,032 |
| 1.88%, 10/15/30 (a) | 150,000 | 117,071 |
| 2.70%, 04/15/31 (a) | 125,000 | 103,040 |
| 2.30%, 09/15/31 (a) | 200,000 | 158,626 |
| 4.05%, 03/15/32 (a) | 225,000 | 205,070 |
| AT&T, Inc. | ||
| 1.65%, 02/01/28 (a) | 550,000 | 475,513 |
| 4.10%, 02/15/28 (a) | 425,000 | 417,630 |
| 4.35%, 03/01/29 (a) | 625,000 | 616,069 |
| 4.30%, 02/15/30 (a) | 825,000 | 805,885 |
| 2.75%, 06/01/31 (a) | 600,000 | 519,066 |
| 2.25%, 02/01/32 (a) | 675,000 | 551,671 |
| Bell Canada | ||
| 2.15%, 02/15/32 (a) | 150,000 | 122,996 |
| British Telecommunications PLC | ||
| 5.13%, 12/04/28 (a) | 200,000 | 200,068 |
| 9.63%, 12/15/30 (f) | 675,000 | 841,117 |
| Charter Communications Operating LLC/Charter Communications Operating Capital | ||
| 3.75%, 02/15/28 (a) | 295,000 | 271,958 |
| 4.20%, 03/15/28 (a) | 350,000 | 327,295 |
| 2.25%, 01/15/29 (a) | 200,000 | 164,824 |
| 5.05%, 03/30/29 (a) | 375,000 | 362,066 |
| 2.80%, 04/01/31 (a) | 275,000 | 220,514 |
| 2.30%, 02/01/32 (a) | 250,000 | 189,988 |
| Comcast Corp. | ||
| 3.15%, 02/15/28 (a) | 375,000 | 357,559 |
| 3.55%, 05/01/28 (a) | 150,000 | 145,628 |
| 4.15%, 10/15/28 (a) | 642,000 | 640,787 |
| 2.65%, 02/01/30 (a) | 525,000 | 469,465 |
| 3.40%, 04/01/30 (a) | 500,000 | 469,100 |
| 4.25%, 10/15/30 (a) | 425,000 | 419,377 |
| 1.95%, 01/15/31 (a) | 250,000 | 208,055 |
| 1.50%, 02/15/31 (a) | 325,000 | 261,423 |
149
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Crown Castle International Corp. | ||
| 3.65%, 09/01/27 (a) | 300,000 | 283,914 |
| 3.80%, 02/15/28 (a) | 75,000 | 70,828 |
| 4.30%, 02/15/29 (a) | 125,000 | 120,149 |
| 3.10%, 11/15/29 (a) | 250,000 | 220,688 |
| 3.30%, 07/01/30 (a) | 200,000 | 176,796 |
| 2.25%, 01/15/31 (a) | 225,000 | 182,716 |
| 2.10%, 04/01/31 (a) | 175,000 | 139,099 |
| 2.50%, 07/15/31 (a) | 190,000 | 156,163 |
| Deutsche Telekom International Finance BV | ||
| 8.75%, 06/15/30 (f) | 900,000 | 1,113,651 |
| Discovery Communications LLC | ||
| 3.95%, 03/20/28 (a) | 300,000 | 280,980 |
| 4.13%, 05/15/29 (a) | 425,000 | 391,918 |
| 3.63%, 05/15/30 (a) | 175,000 | 155,904 |
| Electronic Arts, Inc. | ||
| 1.85%, 02/15/31 (a) | 200,000 | 162,728 |
| Fox Corp. | ||
| 4.71%, 01/25/29 (a) | 450,000 | 441,967 |
| 3.50%, 04/08/30 (a) | 100,000 | 90,894 |
| Interpublic Group of Cos., Inc. | ||
| 4.65%, 10/01/28 (a) | 200,000 | 198,062 |
| 4.75%, 03/30/30 (a) | 100,000 | 98,422 |
| 2.40%, 03/01/31 (a) | 100,000 | 81,246 |
| Koninklijke KPN N.V. | ||
| 8.38%, 10/01/30 | 150,000 | 179,912 |
| Magallanes, Inc. | ||
| 4.05%, 03/15/29 (a)(d) | 150,000 | 137,700 |
| 4.28%, 03/15/32 (a)(d) | 1,325,000 | 1,184,523 |
| Omnicom Group, Inc. | ||
| 2.45%, 04/30/30 (a) | 225,000 | 190,089 |
| 4.20%, 06/01/30 (a) | 125,000 | 119,598 |
| 2.60%, 08/01/31 (a) | 150,000 | 125,958 |
| Orange S.A. | ||
| 9.00%, 03/01/31 | 625,000 | 807,450 |
| Rogers Communications, Inc. | ||
| 3.80%, 03/15/32 (a)(d) | 400,000 | 366,892 |
| Take-Two Interactive Software, Inc. | ||
| 4.00%, 04/14/32 (a) | 125,000 | 117,550 |
| TCI Communications, Inc. | ||
| 7.13%, 02/15/28 | 300,000 | 339,591 |
| Telefonica Europe BV | ||
| 8.25%, 09/15/30 | 300,000 | 359,442 |
| TELUS Corp. | ||
| 3.70%, 09/15/27 (a) | 75,000 | 73,924 |
| 3.40%, 05/13/32 (a) | 200,000 | 179,924 |
| T-Mobile USA, Inc. | ||
| 2.05%, 02/15/28 (a) | 350,000 | 304,587 |
| 2.40%, 03/15/29 (a) | 150,000 | 129,770 |
| 3.88%, 04/15/30 (a)(g) | 1,675,000 | 1,564,383 |
| 2.55%, 02/15/31 (a) | 500,000 | 421,015 |
| 2.25%, 11/15/31 (a) | 275,000 | 223,525 |
| 2.70%, 03/15/32 (a) | 250,000 | 210,049 |
| TWDC Enterprises 18 Corp. | ||
| 7.00%, 03/01/32 | 150,000 | 178,464 |
| Verizon Communications, Inc. | ||
| 2.10%, 03/22/28 (a) | 600,000 | 533,142 |
| 4.33%, 09/21/28 | 935,000 | 930,867 |
| 3.88%, 02/08/29 (a) | 125,000 | 121,029 |
| 4.02%, 12/03/29 (a) | 1,000,000 | 970,780 |
| 3.15%, 03/22/30 (a) | 275,000 | 250,195 |
| 1.50%, 09/18/30 (a) | 225,000 | 180,142 |
| 1.68%, 10/30/30 (a) | 350,000 | 281,970 |
| 7.75%, 12/01/30 | 225,000 | 271,606 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.75%, 01/20/31 (a) | 625,000 | 502,587 |
| 2.55%, 03/21/31 (a) | 1,025,000 | 877,502 |
| 2.36%, 03/15/32 (a) | 1,150,000 | 954,580 |
| ViacomCBS, Inc. | ||
| 3.38%, 02/15/28 (a) | 150,000 | 137,907 |
| 3.70%, 06/01/28 (a) | 250,000 | 233,360 |
| 4.20%, 06/01/29 (a) | 100,000 | 94,294 |
| 7.88%, 07/30/30 | 275,000 | 315,538 |
| 4.95%, 01/15/31 (a) | 275,000 | 262,130 |
| Vodafone Group PLC | ||
| 4.38%, 05/30/28 | 800,000 | 795,864 |
| 7.88%, 02/15/30 | 125,000 | 147,478 |
| Walt Disney Co. | ||
| 2.20%, 01/13/28 | 300,000 | 272,130 |
| 2.00%, 09/01/29 (a) | 350,000 | 301,105 |
| 3.80%, 03/22/30 | 425,000 | 410,762 |
| 2.65%, 01/13/31 | 500,000 | 440,420 |
| Weibo Corp. | ||
| 3.38%, 07/08/30 (a) | 200,000 | 164,846 |
| 32,524,384 | ||
| Consumer Cyclical 7.5% | ||
| Advance Auto Parts, Inc. | ||
| 1.75%, 10/01/27 (a) | 50,000 | 42,456 |
| 3.90%, 04/15/30 (a) | 100,000 | 91,233 |
| 3.50%, 03/15/32 (a) | 150,000 | 128,751 |
| Alibaba Group Holding Ltd. | ||
| 3.40%, 12/06/27 (a) | 500,000 | 478,075 |
| 2.13%, 02/09/31 (a) | 425,000 | 352,367 |
| Amazon.com, Inc. | ||
| 3.15%, 08/22/27 (a) | 600,000 | 584,676 |
| 1.65%, 05/12/28 (a) | 575,000 | 510,623 |
| 3.45%, 04/13/29 (a) | 350,000 | 341,176 |
| 1.50%, 06/03/30 (a) | 550,000 | 458,221 |
| 2.10%, 05/12/31 (a) | 750,000 | 643,125 |
| 3.60%, 04/13/32 (a) | 600,000 | 578,634 |
| American Honda Finance Corp. | ||
| 3.50%, 02/15/28 | 191,000 | 184,787 |
| 2.25%, 01/12/29 | 150,000 | 132,746 |
| 1.80%, 01/13/31 | 125,000 | 102,876 |
| Aptiv PLC | ||
| 4.35%, 03/15/29 (a) | 50,000 | 47,477 |
| 3.25%, 03/01/32 (a) | 100,000 | 85,064 |
| AutoNation, Inc. | ||
| 3.80%, 11/15/27 (a) | 75,000 | 70,773 |
| 1.95%, 08/01/28 (a) | 100,000 | 83,562 |
| 4.75%, 06/01/30 (a) | 75,000 | 70,574 |
| 2.40%, 08/01/31 (a) | 300,000 | 231,084 |
| 3.85%, 03/01/32 (a) | 75,000 | 64,723 |
| AutoZone, Inc. | ||
| 3.75%, 04/18/29 (a) | 225,000 | 212,706 |
| 4.00%, 04/15/30 (a) | 50,000 | 47,532 |
| 1.65%, 01/15/31 (a) | 150,000 | 117,717 |
| Best Buy Co., Inc. | ||
| 4.45%, 10/01/28 (a) | 50,000 | 49,322 |
| 1.95%, 10/01/30 (a) | 250,000 | 198,772 |
| Block Financial LLC | ||
| 2.50%, 07/15/28 (a) | 200,000 | 174,098 |
| 3.88%, 08/15/30 (a) | 100,000 | 90,897 |
| Booking Holdings, Inc. | ||
| 3.55%, 03/15/28 (a) | 75,000 | 72,353 |
| 4.63%, 04/13/30 (a) | 325,000 | 323,693 |
| BorgWarner, Inc. | ||
| 2.65%, 07/01/27 (a) | 200,000 | 182,076 |
150
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| CBRE Services, Inc. | ||
| 2.50%, 04/01/31 (a) | 150,000 | 121,746 |
| Choice Hotels International, Inc. | ||
| 3.70%, 12/01/29 (a) | 130,000 | 115,255 |
| 3.70%, 01/15/31 (a) | 100,000 | 88,066 |
| Costco Wholesale Corp. | ||
| 1.60%, 04/20/30 (a) | 425,000 | 358,640 |
| 1.75%, 04/20/32 (a) | 250,000 | 206,157 |
| Cummins, Inc. | ||
| 1.50%, 09/01/30 (a) | 225,000 | 182,529 |
| Daimler Finance North America LLC | ||
| 8.50%, 01/18/31 | 400,000 | 507,040 |
| Dick's Sporting Goods, Inc. | ||
| 3.15%, 01/15/32 (a) | 225,000 | 178,400 |
| Dollar General Corp. | ||
| 4.13%, 05/01/28 (a) | 50,000 | 48,839 |
| 3.50%, 04/03/30 (a) | 300,000 | 276,576 |
| Dollar Tree, Inc. | ||
| 4.20%, 05/15/28 (a) | 275,000 | 267,410 |
| 2.65%, 12/01/31 (a) | 150,000 | 123,825 |
| DR Horton, Inc. | ||
| 1.40%, 10/15/27 (a) | 100,000 | 83,725 |
| eBay, Inc. | ||
| 2.70%, 03/11/30 (a) | 425,000 | 362,937 |
| 2.60%, 05/10/31 (a) | 100,000 | 83,182 |
| Expedia Group, Inc. | ||
| 4.63%, 08/01/27 (a) | 225,000 | 216,583 |
| 3.80%, 02/15/28 (a) | 375,000 | 342,150 |
| 3.25%, 02/15/30 (a) | 275,000 | 228,654 |
| 2.95%, 03/15/31 (a) | 150,000 | 119,805 |
| General Motors Co. | ||
| 4.20%, 10/01/27 (a) | 125,000 | 118,755 |
| 6.80%, 10/01/27 (a) | 150,000 | 157,875 |
| 5.00%, 10/01/28 (a) | 430,000 | 417,461 |
| General Motors Financial Co., Inc. | ||
| 2.70%, 08/20/27 (a) | 100,000 | 87,923 |
| 2.40%, 04/10/28 (a) | 375,000 | 317,527 |
| 2.40%, 10/15/28 (a) | 250,000 | 207,665 |
| 5.65%, 01/17/29 (a) | 100,000 | 99,779 |
| 3.60%, 06/21/30 (a) | 500,000 | 433,580 |
| 2.35%, 01/08/31 (a) | 225,000 | 174,870 |
| 2.70%, 06/10/31 (a) | 275,000 | 217,954 |
| 3.10%, 01/12/32 (a) | 325,000 | 261,345 |
| Genuine Parts Co. | ||
| 1.88%, 11/01/30 (a) | 75,000 | 59,310 |
| 2.75%, 02/01/32 (a) | 100,000 | 83,028 |
| GLP Capital LP/GLP Financing II, Inc. | ||
| 5.75%, 06/01/28 (a) | 130,000 | 127,147 |
| 5.30%, 01/15/29 (a) | 200,000 | 190,604 |
| 4.00%, 01/15/30 (a) | 175,000 | 154,289 |
| 4.00%, 01/15/31 (a) | 150,000 | 130,313 |
| 3.25%, 01/15/32 (a) | 200,000 | 160,696 |
| Home Depot, Inc. | ||
| 2.80%, 09/14/27 (a) | 380,000 | 362,661 |
| 0.90%, 03/15/28 (a) | 100,000 | 85,270 |
| 1.50%, 09/15/28 (a) | 200,000 | 174,546 |
| 3.90%, 12/06/28 (a) | 350,000 | 350,416 |
| 2.95%, 06/15/29 (a) | 319,000 | 298,523 |
| 2.70%, 04/15/30 (a) | 200,000 | 181,652 |
| 1.38%, 03/15/31 (a) | 350,000 | 282,618 |
| 1.88%, 09/15/31 (a) | 225,000 | 187,596 |
| 3.25%, 04/15/32 (a) | 275,000 | 256,844 |
| Honda Motor Co., Ltd. | ||
| 2.97%, 03/10/32 (a) | 250,000 | 224,800 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Hyatt Hotels Corp. | ||
| 4.38%, 09/15/28 (a) | 110,000 | 104,067 |
| 6.00%, 04/23/30 (a) | 150,000 | 151,593 |
| JD.com, Inc. | ||
| 3.38%, 01/14/30 (a) | 200,000 | 183,264 |
| Kohl's Corp. | ||
| 3.38%, 05/01/31 (a) | 150,000 | 130,544 |
| Lear Corp. | ||
| 3.80%, 09/15/27 (a) | 160,000 | 151,334 |
| 4.25%, 05/15/29 (a) | 25,000 | 23,183 |
| 3.50%, 05/30/30 (a) | 300,000 | 261,636 |
| Lennar Corp. | ||
| 5.00%, 06/15/27 (a) | 75,000 | 74,420 |
| 4.75%, 11/29/27 (a) | 150,000 | 146,148 |
| Lowe's Cos., Inc. | ||
| 1.30%, 04/15/28 (a) | 150,000 | 127,013 |
| 1.70%, 09/15/28 (a) | 150,000 | 127,964 |
| 6.50%, 03/15/29 | 97,000 | 107,996 |
| 3.65%, 04/05/29 (a) | 400,000 | 378,388 |
| 4.50%, 04/15/30 (a) | 175,000 | 173,245 |
| 1.70%, 10/15/30 (a) | 375,000 | 301,541 |
| 2.63%, 04/01/31 (a) | 500,000 | 428,920 |
| 3.75%, 04/01/32 (a) | 350,000 | 325,097 |
| Magna International, Inc. | ||
| 2.45%, 06/15/30 (a) | 200,000 | 170,858 |
| Marriott International, Inc. | ||
| 4.00%, 04/15/28 (a) | 125,000 | 119,289 |
| 4.65%, 12/01/28 (a) | 225,000 | 221,092 |
| 4.63%, 06/15/30 (a) | 225,000 | 215,118 |
| 2.85%, 04/15/31 (a) | 50,000 | 41,505 |
| McDonald's Corp. | ||
| 3.50%, 07/01/27 (a) | 200,000 | 195,984 |
| 3.80%, 04/01/28 (a) | 250,000 | 245,765 |
| 2.63%, 09/01/29 (a) | 500,000 | 448,685 |
| 2.13%, 03/01/30 (a) | 100,000 | 85,813 |
| 3.60%, 07/01/30 (a) | 100,000 | 95,258 |
| MDC Holdings, Inc. | ||
| 3.85%, 01/15/30 (a) | 150,000 | 125,012 |
| 2.50%, 01/15/31 (a) | 100,000 | 74,319 |
| NIKE, Inc. | ||
| 2.85%, 03/27/30 (a) | 350,000 | 321,531 |
| NVR, Inc. | ||
| 3.00%, 05/15/30 (a)(h) | 200,000 | 172,108 |
| O'Reilly Automotive, Inc. | ||
| 3.60%, 09/01/27 (a) | 225,000 | 217,640 |
| 4.35%, 06/01/28 (a) | 200,000 | 199,096 |
| 3.90%, 06/01/29 (a) | 150,000 | 142,227 |
| 4.20%, 04/01/30 (a) | 125,000 | 120,693 |
| 4.70%, 06/15/32 (a) | 200,000 | 199,480 |
| Ralph Lauren Corp. | ||
| 2.95%, 06/15/30 (a) | 125,000 | 110,303 |
| Ross Stores, Inc. | ||
| 1.88%, 04/15/31 (a) | 175,000 | 138,693 |
| Starbucks Corp. | ||
| 3.50%, 03/01/28 (a) | 75,000 | 72,041 |
| 4.00%, 11/15/28 (a) | 136,000 | 133,007 |
| 3.55%, 08/15/29 (a) | 375,000 | 352,136 |
| 2.25%, 03/12/30 (a) | 175,000 | 148,321 |
| 2.55%, 11/15/30 (a) | 255,000 | 217,783 |
| 3.00%, 02/14/32 (a) | 250,000 | 217,537 |
| Tapestry, Inc. | ||
| 4.13%, 07/15/27 (a) | 120,000 | 115,571 |
| 3.05%, 03/15/32 (a) | 150,000 | 122,318 |
151
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Target Corp. | ||
| 3.38%, 04/15/29 (a) | 200,000 | 192,488 |
| 2.35%, 02/15/30 (a) | 150,000 | 132,695 |
| 2.65%, 09/15/30 (a) | 150,000 | 134,864 |
| TJX Cos., Inc. | ||
| 1.15%, 05/15/28 (a) | 150,000 | 127,722 |
| 3.88%, 04/15/30 (a) | 100,000 | 97,803 |
| 1.60%, 05/15/31 (a) | 50,000 | 40,369 |
| Toll Brothers Finance Corp. | ||
| 4.35%, 02/15/28 (a) | 150,000 | 136,165 |
| 3.80%, 11/01/29 (a) | 75,000 | 64,121 |
| Toyota Motor Corp. | ||
| 3.67%, 07/20/28 | 150,000 | 147,324 |
| 2.76%, 07/02/29 | 100,000 | 91,518 |
| Toyota Motor Credit Corp. | ||
| 1.15%, 08/13/27 | 200,000 | 174,244 |
| 3.05%, 01/11/28 | 150,000 | 142,339 |
| 3.65%, 01/08/29 | 125,000 | 121,558 |
| 2.15%, 02/13/30 | 300,000 | 260,286 |
| 3.38%, 04/01/30 | 250,000 | 235,665 |
| 1.90%, 09/12/31 | 200,000 | 164,938 |
| 2.40%, 01/13/32 | 150,000 | 128,897 |
| Tractor Supply Co. | ||
| 1.75%, 11/01/30 (a) | 125,000 | 98,391 |
| VF Corp. | ||
| 2.95%, 04/23/30 (a) | 150,000 | 131,447 |
| VICI Properties LP | ||
| 4.75%, 02/15/28 (a) | 200,000 | 191,188 |
| 4.95%, 02/15/30 (a) | 200,000 | 189,422 |
| 5.13%, 05/15/32 (a) | 400,000 | 377,832 |
| Walgreens Boots Alliance, Inc. | ||
| 3.20%, 04/15/30 (a) | 100,000 | 88,356 |
| Walmart, Inc. | ||
| 3.70%, 06/26/28 (a) | 350,000 | 348,915 |
| 1.50%, 09/22/28 (a) | 300,000 | 263,322 |
| 3.25%, 07/08/29 (a) | 175,000 | 168,873 |
| 2.38%, 09/24/29 (a) | 325,000 | 295,981 |
| 1.80%, 09/22/31 (a) | 375,000 | 318,952 |
| 29,569,946 | ||
| Consumer Non-Cyclical 13.6% | ||
| Abbott Laboratories | ||
| 1.15%, 01/30/28 (a) | 125,000 | 109,026 |
| 1.40%, 06/30/30 (a) | 200,000 | 167,168 |
| AbbVie, Inc. | ||
| 4.25%, 11/14/28 (a) | 500,000 | 494,845 |
| 3.20%, 11/21/29 (a) | 1,175,000 | 1,081,117 |
| Adventist Health System | ||
| 2.95%, 03/01/29 (a) | 75,000 | 68,867 |
| Advocate Health & Hospitals Corp. | ||
| 3.83%, 08/15/28 (a) | 130,000 | 128,297 |
| 2.21%, 06/15/30 (a) | 75,000 | 64,821 |
| Agilent Technologies, Inc. | ||
| 2.75%, 09/15/29 (a) | 100,000 | 87,721 |
| 2.10%, 06/04/30 (a) | 50,000 | 40,783 |
| 2.30%, 03/12/31 (a) | 150,000 | 122,292 |
| Ahold Finance USA LLC | ||
| 6.88%, 05/01/29 | 125,000 | 139,580 |
| Altria Group, Inc. | ||
| 4.80%, 02/14/29 (a) | 500,000 | 474,425 |
| 3.40%, 05/06/30 (a) | 125,000 | 106,679 |
| 2.45%, 02/04/32 (a) | 450,000 | 339,349 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| AmerisourceBergen Corp. | ||
| 3.45%, 12/15/27 (a) | 125,000 | 120,500 |
| 2.80%, 05/15/30 (a) | 150,000 | 131,225 |
| 2.70%, 03/15/31 (a) | 200,000 | 171,468 |
| Amgen, Inc. | ||
| 3.20%, 11/02/27 (a) | 300,000 | 287,226 |
| 1.65%, 08/15/28 (a) | 200,000 | 171,826 |
| 3.00%, 02/22/29 (a) | 250,000 | 230,920 |
| 2.45%, 02/21/30 (a) | 200,000 | 174,762 |
| 2.30%, 02/25/31 (a) | 350,000 | 297,703 |
| 2.00%, 01/15/32 (a) | 350,000 | 285,414 |
| 3.35%, 02/22/32 (a) | 200,000 | 183,274 |
| Anheuser-Busch InBev Worldwide, Inc. | ||
| 4.00%, 04/13/28 (a) | 600,000 | 592,722 |
| 4.75%, 01/23/29 (a) | 945,000 | 964,269 |
| 3.50%, 06/01/30 (a) | 500,000 | 469,500 |
| 4.90%, 01/23/31 (a) | 150,000 | 154,203 |
| Archer-Daniels-Midland Co. | ||
| 3.25%, 03/27/30 (a) | 200,000 | 188,586 |
| 2.90%, 03/01/32 (a) | 150,000 | 135,882 |
| Ascension Health | ||
| 2.53%, 11/15/29 (a) | 250,000 | 226,032 |
| Astrazeneca Finance LLC | ||
| 1.75%, 05/28/28 (a) | 150,000 | 132,429 |
| 2.25%, 05/28/31 (a) | 150,000 | 130,685 |
| AstraZeneca PLC | ||
| 3.13%, 06/12/27 (a) | 180,000 | 173,590 |
| 4.00%, 01/17/29 (a) | 400,000 | 398,828 |
| 1.38%, 08/06/30 (a) | 250,000 | 205,165 |
| Banner Health | ||
| 2.34%, 01/01/30 (a) | 75,000 | 66,400 |
| 1.90%, 01/01/31 (a) | 100,000 | 83,202 |
| BAT Capital Corp. | ||
| 3.56%, 08/15/27 (a) | 600,000 | 549,828 |
| 2.26%, 03/25/28 (a) | 475,000 | 398,059 |
| 3.46%, 09/06/29 (a) | 325,000 | 279,107 |
| 4.91%, 04/02/30 (a) | 275,000 | 255,709 |
| 2.73%, 03/25/31 (a) | 225,000 | 177,908 |
| 4.74%, 03/16/32 (a) | 250,000 | 222,602 |
| BAT International Finance PLC | ||
| 4.45%, 03/16/28 (a) | 250,000 | 236,890 |
| Baxter International, Inc. | ||
| 2.27%, 12/01/28 (a) | 150,000 | 131,478 |
| 3.95%, 04/01/30 (a) | 125,000 | 120,079 |
| 1.73%, 04/01/31 (a) | 100,000 | 78,872 |
| 2.54%, 02/01/32 (a) | 300,000 | 253,248 |
| Baylor Scott & White Holdings | ||
| 1.78%, 11/15/30 (a) | 50,000 | 41,124 |
| Becton Dickinson & Co. | ||
| 2.82%, 05/20/30 (a) | 200,000 | 175,934 |
| 1.96%, 02/11/31 (a) | 100,000 | 80,964 |
| Biogen, Inc. | ||
| 2.25%, 05/01/30 (a) | 400,000 | 328,344 |
| Bio-Rad Laboratories, Inc. | ||
| 3.70%, 03/15/32 (a) | 100,000 | 88,943 |
| Bon Secours Mercy Health, Inc. | ||
| 3.46%, 06/01/30 (a) | 125,000 | 116,719 |
| 2.10%, 06/01/31 (a) | 100,000 | 82,990 |
| Boston Scientific Corp. | ||
| 2.65%, 06/01/30 (a) | 225,000 | 196,578 |
| Bristol-Myers Squibb Co. | ||
| 1.13%, 11/13/27 (a) | 235,000 | 206,878 |
| 3.90%, 02/20/28 (a) | 250,000 | 250,760 |
| 3.40%, 07/26/29 (a) | 625,000 | 604,219 |
152
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 1.45%, 11/13/30 (a) | 400,000 | 329,172 |
| 2.95%, 03/15/32 (a) | 425,000 | 390,503 |
| Brunswick Corp. | ||
| 2.40%, 08/18/31 (a) | 200,000 | 148,192 |
| Bunge Ltd. Finance Corp. | ||
| 3.75%, 09/25/27 (a) | 100,000 | 96,286 |
| 2.75%, 05/14/31 (a) | 225,000 | 185,864 |
| Campbell Soup Co. | ||
| 4.15%, 03/15/28 (a) | 175,000 | 171,493 |
| 2.38%, 04/24/30 (a) | 150,000 | 126,771 |
| Cedars-Sinai Health System | ||
| 2.29%, 08/15/31 (a) | 100,000 | 85,775 |
| CHRISTUS Health | ||
| 4.34%, 07/01/28 (a) | 50,000 | 50,230 |
| Church & Dwight Co., Inc. | ||
| 3.15%, 08/01/27 (a) | 25,000 | 23,968 |
| 2.30%, 12/15/31 (a) | 150,000 | 126,723 |
| Cigna Corp. | ||
| 3.05%, 10/15/27 (a) | 250,000 | 235,505 |
| 4.38%, 10/15/28 (a) | 875,000 | 868,192 |
| 2.40%, 03/15/30 (a) | 300,000 | 258,153 |
| 2.38%, 03/15/31 (a) | 350,000 | 295,991 |
| Clorox Co. | ||
| 3.10%, 10/01/27 (a) | 200,000 | 191,302 |
| 3.90%, 05/15/28 (a) | 50,000 | 49,083 |
| 1.80%, 05/15/30 (a) | 100,000 | 81,840 |
| 4.60%, 05/01/32 (a) | 200,000 | 200,890 |
| Coca-Cola Co. | ||
| 1.00%, 03/15/28 | 600,000 | 517,854 |
| 2.13%, 09/06/29 | 175,000 | 156,300 |
| 3.45%, 03/25/30 | 250,000 | 242,715 |
| 1.65%, 06/01/30 | 300,000 | 254,430 |
| 2.00%, 03/05/31 | 175,000 | 150,729 |
| 1.38%, 03/15/31 | 325,000 | 264,914 |
| 2.25%, 01/05/32 | 500,000 | 436,155 |
| Coca-Cola Femsa S.A.B. de C.V. | ||
| 2.75%, 01/22/30 (a) | 350,000 | 314,398 |
| CommonSpirit Health | ||
| 3.35%, 10/01/29 (a) | 145,000 | 133,639 |
| 2.78%, 10/01/30 (a) | 225,000 | 194,069 |
| Conagra Brands, Inc. | ||
| 1.38%, 11/01/27 (a) | 250,000 | 208,820 |
| 7.00%, 10/01/28 | 150,000 | 161,790 |
| 4.85%, 11/01/28 (a) | 175,000 | 172,660 |
| 8.25%, 09/15/30 | 175,000 | 205,329 |
| Constellation Brands, Inc. | ||
| 3.60%, 02/15/28 (a) | 250,000 | 237,297 |
| 4.65%, 11/15/28 (a) | 125,000 | 123,826 |
| 3.15%, 08/01/29 (a) | 75,000 | 67,639 |
| 2.88%, 05/01/30 (a) | 125,000 | 108,873 |
| 2.25%, 08/01/31 (a) | 200,000 | 162,304 |
| 4.75%, 05/09/32 (a) | 300,000 | 296,703 |
| CVS Health Corp. | ||
| 6.25%, 06/01/27 | 300,000 | 322,515 |
| 1.30%, 08/21/27 (a) | 600,000 | 517,218 |
| 4.30%, 03/25/28 (a) | 932,000 | 923,817 |
| 3.25%, 08/15/29 (a) | 350,000 | 319,917 |
| 3.75%, 04/01/30 (a) | 350,000 | 327,687 |
| 1.75%, 08/21/30 (a) | 275,000 | 220,883 |
| 1.88%, 02/28/31 (a) | 250,000 | 200,522 |
| 2.13%, 09/15/31 (a) | 300,000 | 243,186 |
| DENTSPLY SIRONA, Inc. | ||
| 3.25%, 06/01/30 (a) | 200,000 | 168,982 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| DH Europe Finance II Sarl | ||
| 2.60%, 11/15/29 (a) | 200,000 | 179,466 |
| Diageo Capital PLC | ||
| 3.88%, 05/18/28 (a) | 400,000 | 397,836 |
| 2.00%, 04/29/30 (a) | 425,000 | 363,528 |
| Edwards Lifesciences Corp. | ||
| 4.30%, 06/15/28 (a) | 175,000 | 170,996 |
| Eli Lilly & Co. | ||
| 3.38%, 03/15/29 (a) | 200,000 | 195,022 |
| Estee Lauder Cos., Inc. | ||
| 2.38%, 12/01/29 (a) | 200,000 | 178,238 |
| 2.60%, 04/15/30 (a) | 150,000 | 134,894 |
| 1.95%, 03/15/31 (a) | 125,000 | 105,625 |
| Flowers Foods, Inc. | ||
| 2.40%, 03/15/31 (a) | 100,000 | 82,190 |
| General Mills, Inc. | ||
| 4.20%, 04/17/28 (a) | 275,000 | 272,775 |
| 2.88%, 04/15/30 (a) | 125,000 | 110,689 |
| 2.25%, 10/14/31 (a) | 200,000 | 164,332 |
| Gilead Sciences, Inc. | ||
| 1.20%, 10/01/27 (a) | 175,000 | 150,775 |
| 1.65%, 10/01/30 (a) | 250,000 | 204,862 |
| GlaxoSmithKline Capital PLC | ||
| 3.38%, 06/01/29 (a) | 250,000 | 241,485 |
| GlaxoSmithKline Capital, Inc. | ||
| 3.88%, 05/15/28 | 425,000 | 423,457 |
| GSK Consumer Healthcare Capital US LLC | ||
| 3.38%, 03/24/29 (a)(d) | 250,000 | 234,177 |
| 3.63%, 03/24/32 (a)(d) | 400,000 | 369,324 |
| Hasbro, Inc. | ||
| 3.50%, 09/15/27 (a) | 105,000 | 99,203 |
| 3.90%, 11/19/29 (a) | 255,000 | 234,506 |
| HCA, Inc. | ||
| 5.63%, 09/01/28 (a) | 350,000 | 344,774 |
| 5.88%, 02/01/29 (a) | 250,000 | 250,477 |
| 4.13%, 06/15/29 (a) | 300,000 | 274,005 |
| 3.50%, 09/01/30 (a) | 700,000 | 597,513 |
| 2.38%, 07/15/31 (a) | 300,000 | 232,752 |
| 3.63%, 03/15/32 (a)(d) | 625,000 | 528,381 |
| Hershey Co. | ||
| 2.45%, 11/15/29 (a) | 75,000 | 67,328 |
| 1.70%, 06/01/30 (a) | 75,000 | 63,067 |
| Hormel Foods Corp. | ||
| 1.70%, 06/03/28 (a) | 100,000 | 88,417 |
| 1.80%, 06/11/30 (a) | 200,000 | 167,926 |
| Illumina, Inc. | ||
| 2.55%, 03/23/31 (a) | 150,000 | 122,108 |
| Ingredion, Inc. | ||
| 2.90%, 06/01/30 (a) | 125,000 | 108,774 |
| JM Smucker Co. | ||
| 3.38%, 12/15/27 (a) | 75,000 | 71,705 |
| 2.38%, 03/15/30 (a) | 100,000 | 85,098 |
| 2.13%, 03/15/32 (a) | 100,000 | 80,519 |
| Johnson & Johnson | ||
| 0.95%, 09/01/27 (a) | 325,000 | 286,656 |
| 2.90%, 01/15/28 (a) | 300,000 | 290,214 |
| 6.95%, 09/01/29 | 87,000 | 107,750 |
| 1.30%, 09/01/30 (a) | 425,000 | 358,636 |
| Kellogg Co. | ||
| 3.40%, 11/15/27 (a) | 300,000 | 286,866 |
| 4.30%, 05/15/28 (a) | 75,000 | 74,924 |
| 2.10%, 06/01/30 (a) | 100,000 | 83,092 |
| 7.45%, 04/01/31 | 100,000 | 115,750 |
153
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Keurig Dr Pepper, Inc. | ||
| 3.43%, 06/15/27 (a) | 75,000 | 71,728 |
| 4.60%, 05/25/28 (a) | 300,000 | 300,483 |
| 3.20%, 05/01/30 (a) | 350,000 | 313,274 |
| 2.25%, 03/15/31 (a) | 75,000 | 61,772 |
| 4.05%, 04/15/32 (a) | 250,000 | 234,277 |
| Kimberly-Clark Corp. | ||
| 1.05%, 09/15/27 (a) | 150,000 | 131,007 |
| 3.95%, 11/01/28 (a) | 50,000 | 49,901 |
| 3.20%, 04/25/29 (a) | 135,000 | 128,921 |
| 3.10%, 03/26/30 (a) | 250,000 | 234,917 |
| 2.00%, 11/02/31 (a) | 200,000 | 168,224 |
| Kraft Heinz Foods Co. | ||
| 4.63%, 01/30/29 (a) | 150,000 | 148,436 |
| 3.75%, 04/01/30 (a) | 150,000 | 138,737 |
| 4.25%, 03/01/31 (a) | 75,000 | 71,402 |
| 6.75%, 03/15/32 | 100,000 | 112,482 |
| Kroger Co. | ||
| 3.70%, 08/01/27 (a) | 250,000 | 243,550 |
| 4.50%, 01/15/29 (a) | 125,000 | 124,395 |
| 2.20%, 05/01/30 (a) | 100,000 | 84,459 |
| 1.70%, 01/15/31 (a) | 150,000 | 119,595 |
| Laboratory Corp. of America Holdings | ||
| 3.60%, 09/01/27 (a) | 125,000 | 120,661 |
| 2.95%, 12/01/29 (a) | 200,000 | 176,036 |
| 2.70%, 06/01/31 (a) | 100,000 | 84,209 |
| McCormick & Co., Inc. | ||
| 3.40%, 08/15/27 (a) | 175,000 | 167,332 |
| 2.50%, 04/15/30 (a) | 200,000 | 171,024 |
| 1.85%, 02/15/31 (a) | 100,000 | 79,636 |
| McKesson Corp. | ||
| 3.95%, 02/16/28 (a) | 25,000 | 24,396 |
| Merck & Co., Inc. | ||
| 1.90%, 12/10/28 (a) | 200,000 | 177,878 |
| 3.40%, 03/07/29 (a) | 350,000 | 339,125 |
| 1.45%, 06/24/30 (a) | 250,000 | 207,735 |
| 2.15%, 12/10/31 (a) | 400,000 | 344,588 |
| Merck Sharp & Dohme Corp. | ||
| 5.95%, 12/01/28 | 225,000 | 248,465 |
| Mercy Health | ||
| 4.30%, 07/01/28 (a) | 50,000 | 50,401 |
| Mondelez International, Inc. | ||
| 4.13%, 05/07/28 (a) | 75,000 | 75,434 |
| 2.75%, 04/13/30 (a) | 175,000 | 153,865 |
| 1.50%, 02/04/31 (a) | 350,000 | 275,313 |
| Mylan, Inc. | ||
| 4.55%, 04/15/28 (a) | 175,000 | 166,980 |
| Novartis Capital Corp. | ||
| 2.20%, 08/14/30 (a) | 375,000 | 331,095 |
| Ochsner LSU Health System of North Louisiana | ||
| 2.51%, 05/15/31 (a) | 125,000 | 101,221 |
| OhioHealth Corp. | ||
| 2.30%, 11/15/31 (a) | 150,000 | 129,257 |
| PepsiCo, Inc. | ||
| 3.00%, 10/15/27 (a) | 500,000 | 487,155 |
| 2.63%, 07/29/29 (a) | 250,000 | 231,745 |
| 2.75%, 03/19/30 (a) | 325,000 | 299,523 |
| 1.63%, 05/01/30 (a) | 325,000 | 275,977 |
| 1.40%, 02/25/31 (a) | 150,000 | 123,345 |
| 1.95%, 10/21/31 (a) | 275,000 | 234,608 |
| PerkinElmer, Inc. | ||
| 3.30%, 09/15/29 (a) | 300,000 | 264,312 |
| 2.55%, 03/15/31 (a) | 100,000 | 81,921 |
| 2.25%, 09/15/31 (a) | 200,000 | 158,412 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Pfizer, Inc. | ||
| 3.60%, 09/15/28 (a) | 200,000 | 199,178 |
| 3.45%, 03/15/29 (a) | 350,000 | 340,994 |
| 2.63%, 04/01/30 (a) | 200,000 | 182,710 |
| 1.70%, 05/28/30 (a) | 200,000 | 170,734 |
| 1.75%, 08/18/31 (a) | 375,000 | 313,909 |
| Pharmacia LLC | ||
| 6.60%, 12/01/28 | 250,000 | 282,820 |
| Philip Morris International, Inc. | ||
| 3.13%, 08/17/27 (a) | 57,000 | 53,562 |
| 3.13%, 03/02/28 (a) | 100,000 | 91,498 |
| 3.38%, 08/15/29 (a) | 125,000 | 112,858 |
| 2.10%, 05/01/30 (a) | 325,000 | 265,960 |
| 1.75%, 11/01/30 (a) | 125,000 | 96,959 |
| Piedmont Healthcare, Inc. | ||
| 2.04%, 01/01/32 (a) | 100,000 | 82,649 |
| Procter & Gamble Co. | ||
| 2.85%, 08/11/27 | 125,000 | 121,258 |
| 3.00%, 03/25/30 | 475,000 | 448,552 |
| 1.20%, 10/29/30 | 275,000 | 225,126 |
| 1.95%, 04/23/31 | 175,000 | 151,512 |
| 2.30%, 02/01/32 | 250,000 | 222,172 |
| Providence St Joseph Health Obligated Group | ||
| 2.53%, 10/01/29 (a) | 200,000 | 177,442 |
| Quest Diagnostics, Inc. | ||
| 4.20%, 06/30/29 (a) | 200,000 | 194,526 |
| 2.95%, 06/30/30 (a) | 150,000 | 132,318 |
| 2.80%, 06/30/31 (a) | 100,000 | 85,941 |
| Regeneron Pharmaceuticals, Inc. | ||
| 1.75%, 09/15/30 (a) | 350,000 | 281,109 |
| Royalty Pharma PLC | ||
| 1.75%, 09/02/27 (a) | 175,000 | 149,384 |
| 2.20%, 09/02/30 (a) | 275,000 | 222,065 |
| 2.15%, 09/02/31 (a) | 150,000 | 117,312 |
| Rush Obligated Group | ||
| 3.92%, 11/15/29 (a) | 75,000 | 72,251 |
| Sanofi | ||
| 3.63%, 06/19/28 (a) | 175,000 | 172,846 |
| Smith & Nephew PLC | ||
| 2.03%, 10/14/30 (a) | 275,000 | 218,606 |
| SSM Health Care Corp. | ||
| 3.82%, 06/01/27 (a) | 100,000 | 99,630 |
| Stanford Health Care | ||
| 3.31%, 08/15/30 (a) | 100,000 | 92,699 |
| STERIS Irish FinCo Unlimited Co. | ||
| 2.70%, 03/15/31 (a) | 175,000 | 147,975 |
| Stryker Corp. | ||
| 3.65%, 03/07/28 (a) | 250,000 | 242,477 |
| 1.95%, 06/15/30 (a) | 125,000 | 104,098 |
| Sutter Health | ||
| 3.70%, 08/15/28 (a) | 150,000 | 146,639 |
| 2.29%, 08/15/30 (a) | 175,000 | 150,385 |
| Sysco Corp. | ||
| 3.25%, 07/15/27 (a) | 125,000 | 119,046 |
| 2.40%, 02/15/30 (a) | 90,000 | 77,063 |
| 5.95%, 04/01/30 (a) | 175,000 | 186,904 |
| 2.45%, 12/14/31 (a) | 200,000 | 166,338 |
| Takeda Pharmaceutical Co., Ltd. | ||
| 5.00%, 11/26/28 (a) | 550,000 | 561,192 |
| 2.05%, 03/31/30 (a) | 500,000 | 418,345 |
| Thermo Fisher Scientific, Inc. | ||
| 1.75%, 10/15/28 (a) | 150,000 | 131,343 |
| 2.60%, 10/01/29 (a) | 50,000 | 45,375 |
| 2.00%, 10/15/31 (a) | 400,000 | 335,824 |
154
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Toledo Hospital | ||
| 5.33%, 11/15/28 | 100,000 | 94,208 |
| Tyson Foods, Inc. | ||
| 4.35%, 03/01/29 (a) | 350,000 | 346,916 |
| Unilever Capital Corp. | ||
| 3.50%, 03/22/28 (a) | 300,000 | 293,868 |
| 2.13%, 09/06/29 (a) | 200,000 | 176,322 |
| 1.38%, 09/14/30 (a) | 100,000 | 81,426 |
| 1.75%, 08/12/31 (a) | 250,000 | 206,310 |
| Universal Health Services, Inc. | ||
| 2.65%, 10/15/30 (a)(d) | 225,000 | 180,135 |
| 2.65%, 01/15/32 (a)(d) | 100,000 | 77,730 |
| Viatris, Inc. | ||
| 2.70%, 06/22/30 (a) | 350,000 | 281,466 |
| Whirlpool Corp. | ||
| 4.75%, 02/26/29 (a) | 90,000 | 89,890 |
| 2.40%, 05/15/31 (a) | 175,000 | 146,244 |
| Zimmer Biomet Holdings, Inc. | ||
| 2.60%, 11/24/31 (a) | 200,000 | 163,556 |
| Zoetis, Inc. | ||
| 3.00%, 09/12/27 (a) | 125,000 | 118,043 |
| 3.90%, 08/20/28 (a) | 250,000 | 242,560 |
| 2.00%, 05/15/30 (a) | 100,000 | 83,813 |
| 53,962,510 | ||
| Energy 6.3% | ||
| Baker Hughes a GE Co., LLC/Baker Hughes Co-Obligor, Inc. | ||
| 3.34%, 12/15/27 (a) | 325,000 | 307,599 |
| 3.14%, 11/07/29 (a) | 100,000 | 90,560 |
| 4.49%, 05/01/30 (a) | 175,000 | 173,308 |
| Boardwalk Pipelines LP | ||
| 4.45%, 07/15/27 (a) | 75,000 | 72,779 |
| 4.80%, 05/03/29 (a) | 50,000 | 48,598 |
| 3.40%, 02/15/31 (a) | 200,000 | 171,430 |
| BP Capital Markets America, Inc. | ||
| 3.94%, 09/21/28 (a) | 250,000 | 244,602 |
| 4.23%, 11/06/28 (a) | 425,000 | 422,709 |
| 3.63%, 04/06/30 (a) | 250,000 | 237,092 |
| 1.75%, 08/10/30 (a) | 200,000 | 164,848 |
| 2.72%, 01/12/32 (a) | 475,000 | 409,573 |
| BP Capital Markets PLC | ||
| 3.28%, 09/19/27 (a) | 493,000 | 472,614 |
| 3.72%, 11/28/28 (a) | 150,000 | 145,383 |
| Burlington Resources LLC | ||
| 7.20%, 08/15/31 | 100,000 | 119,000 |
| 7.40%, 12/01/31 | 100,000 | 120,919 |
| Canadian Natural Resources Ltd. | ||
| 3.85%, 06/01/27 (a) | 200,000 | 192,186 |
| 2.95%, 07/15/30 (a) | 125,000 | 109,918 |
| Cenovus Energy, Inc. | ||
| 4.40%, 04/15/29 (a) | 125,000 | 120,535 |
| 2.65%, 01/15/32 (a) | 150,000 | 124,539 |
| Cheniere Corpus Christi Holdings LLC | ||
| 3.70%, 11/15/29 (a) | 450,000 | 413,478 |
| Chevron Corp. | ||
| 2.24%, 05/11/30 (a) | 375,000 | 330,352 |
| Chevron USA, Inc. | ||
| 1.02%, 08/12/27 (a) | 200,000 | 174,794 |
| 3.85%, 01/15/28 (a) | 75,000 | 74,627 |
| 3.25%, 10/15/29 (a) | 200,000 | 189,612 |
| Conoco Funding Co. | ||
| 7.25%, 10/15/31 | 125,000 | 148,579 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| ConocoPhillips Co. | ||
| 6.95%, 04/15/29 | 250,000 | 286,370 |
| Continental Resources, Inc. | ||
| 4.38%, 01/15/28 (a) | 225,000 | 211,792 |
| Coterra Energy, Inc. | ||
| 4.38%, 03/15/29 (a)(d) | 145,000 | 142,850 |
| Devon Energy Corp. | ||
| 5.25%, 10/15/27 (a) | 100,000 | 100,867 |
| 5.88%, 06/15/28 (a)(d) | 54,000 | 54,948 |
| 4.50%, 01/15/30 (a) | 180,000 | 169,956 |
| 7.88%, 09/30/31 | 100,000 | 117,604 |
| 7.95%, 04/15/32 | 150,000 | 177,978 |
| Diamondback Energy, Inc. | ||
| 3.50%, 12/01/29 (a) | 225,000 | 206,455 |
| 3.13%, 03/24/31 (a) | 125,000 | 108,913 |
| Eastern Gas Transmission & Storage, Inc. | ||
| 3.00%, 11/15/29 (a)(d) | 125,000 | 113,356 |
| Enable Midstream Partners LP | ||
| 4.95%, 05/15/28 (a) | 250,000 | 245,015 |
| 4.15%, 09/15/29 (a) | 135,000 | 123,966 |
| Enbridge, Inc. | ||
| 3.70%, 07/15/27 (a) | 125,000 | 119,949 |
| 3.13%, 11/15/29 (a) | 175,000 | 158,723 |
| Energy Transfer Operating LP | ||
| 5.50%, 06/01/27 (a) | 150,000 | 152,400 |
| 4.95%, 06/15/28 (a) | 175,000 | 172,582 |
| 5.25%, 04/15/29 (a) | 525,000 | 520,837 |
| 3.75%, 05/15/30 (a) | 300,000 | 270,489 |
| Eni USA, Inc. | ||
| 7.30%, 11/15/27 | 50,000 | 55,977 |
| Enterprise Products Operating LLC | ||
| 4.15%, 10/16/28 (a) | 175,000 | 170,919 |
| 3.13%, 07/31/29 (a) | 235,000 | 211,688 |
| 2.80%, 01/31/30 (a) | 375,000 | 328,789 |
| 5.25%, 08/16/77 (a)(b) | 225,000 | 189,911 |
| 5.38%, 02/15/78 (a)(b) | 200,000 | 160,404 |
| EOG Resources, Inc. | ||
| 4.38%, 04/15/30 (a) | 225,000 | 226,181 |
| EQT Corp. | ||
| 3.90%, 10/01/27 (a) | 200,000 | 187,320 |
| 5.00%, 01/15/29 (a) | 100,000 | 96,894 |
| 7.50%, 02/01/30 (a)(f) | 150,000 | 161,409 |
| Exxon Mobil Corp. | ||
| 2.44%, 08/16/29 (a) | 300,000 | 270,138 |
| 3.48%, 03/19/30 (a) | 500,000 | 479,670 |
| 2.61%, 10/15/30 (a) | 400,000 | 359,572 |
| Halliburton Co. | ||
| 2.92%, 03/01/30 (a) | 175,000 | 155,304 |
| Helmerich and Payne, Inc. | ||
| 2.90%, 09/29/31 (a) | 100,000 | 85,778 |
| Hess Corp. | ||
| 7.88%, 10/01/29 | 130,000 | 150,041 |
| 7.30%, 08/15/31 | 175,000 | 196,210 |
| HF Sinclair Corp. | ||
| 4.50%, 10/01/30 (a)(d) | 100,000 | 91,133 |
| Kinder Morgan Energy Partners LP | ||
| 7.75%, 03/15/32 | 150,000 | 172,728 |
| Kinder Morgan, Inc. | ||
| 4.30%, 03/01/28 (a) | 275,000 | 268,386 |
| 2.00%, 02/15/31 (a) | 150,000 | 120,069 |
| 7.80%, 08/01/31 | 200,000 | 233,042 |
| 7.75%, 01/15/32 | 200,000 | 233,470 |
155
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Magellan Midstream Partners LP | ||
| 3.25%, 06/01/30 (a) | 100,000 | 88,750 |
| Marathon Oil Corp. | ||
| 4.40%, 07/15/27 (a) | 225,000 | 220,059 |
| 6.80%, 03/15/32 | 100,000 | 108,558 |
| Marathon Petroleum Corp. | ||
| 3.80%, 04/01/28 (a) | 130,000 | 123,075 |
| MPLX LP | ||
| 4.25%, 12/01/27 (a) | 175,000 | 168,912 |
| 4.00%, 03/15/28 (a) | 200,000 | 189,938 |
| 4.80%, 02/15/29 (a) | 125,000 | 123,281 |
| 2.65%, 08/15/30 (a) | 350,000 | 292,348 |
| National Fuel Gas Co. | ||
| 3.95%, 09/15/27 (a) | 100,000 | 93,594 |
| 4.75%, 09/01/28 (a) | 100,000 | 98,271 |
| 2.95%, 03/01/31 (a) | 125,000 | 101,758 |
| NOV, Inc. | ||
| 3.60%, 12/01/29 (a) | 160,000 | 143,837 |
| ONEOK, Inc. | ||
| 4.00%, 07/13/27 (a) | 175,000 | 168,907 |
| 4.55%, 07/15/28 (a) | 175,000 | 169,405 |
| 4.35%, 03/15/29 (a) | 125,000 | 117,868 |
| 3.40%, 09/01/29 (a) | 125,000 | 110,545 |
| 3.10%, 03/15/30 (a) | 225,000 | 193,525 |
| 6.35%, 01/15/31 (a) | 105,000 | 110,076 |
| Ovintiv, Inc. | ||
| 8.13%, 09/15/30 | 150,000 | 170,607 |
| 7.20%, 11/01/31 | 150,000 | 163,845 |
| 7.38%, 11/01/31 | 50,000 | 55,230 |
| Phillips 66 | ||
| 3.90%, 03/15/28 (a) | 200,000 | 194,502 |
| 2.15%, 12/15/30 (a) | 150,000 | 122,561 |
| Phillips 66 Partners LP | ||
| 3.75%, 03/01/28 (a) | 75,000 | 71,445 |
| 3.15%, 12/15/29 (a)(d) | 125,000 | 112,536 |
| Pioneer Natural Resources Co. | ||
| 1.90%, 08/15/30 (a) | 250,000 | 204,292 |
| 2.15%, 01/15/31 (a) | 225,000 | 185,557 |
| Plains All American Pipeline LP/PAA Finance Corp. | ||
| 3.55%, 12/15/29 (a) | 175,000 | 154,730 |
| 3.80%, 09/15/30 (a) | 250,000 | 221,575 |
| Sabine Pass Liquefaction LLC | ||
| 4.20%, 03/15/28 (a) | 300,000 | 288,741 |
| 4.50%, 05/15/30 (a) | 525,000 | 505,139 |
| Schlumberger Investment S.A. | ||
| 2.65%, 06/26/30 (a) | 300,000 | 264,048 |
| Shell International Finance BV | ||
| 3.88%, 11/13/28 (a) | 400,000 | 394,920 |
| 2.38%, 11/07/29 (a) | 240,000 | 212,256 |
| 2.75%, 04/06/30 (a) | 500,000 | 451,860 |
| Suncor Energy, Inc. | ||
| 7.15%, 02/01/32 | 175,000 | 199,097 |
| Sunoco Logistics Partners Operations LP | ||
| 4.00%, 10/01/27 (a) | 175,000 | 165,650 |
| Targa Resources Partners LP / Targa Resources Partners Finance Corp. | ||
| 5.00%, 01/15/28 (a) | 150,000 | 143,418 |
| 6.88%, 01/15/29 (a) | 150,000 | 153,188 |
| Targa Resources Partners LP/Targa Resources Partners Finance Corp. | ||
| 6.50%, 07/15/27 (a) | 250,000 | 255,802 |
| 5.50%, 03/01/30 (a) | 200,000 | 190,584 |
| 4.88%, 02/01/31 (a) | 250,000 | 228,327 |
| 4.00%, 01/15/32 (a) | 250,000 | 214,595 |
| Tennessee Gas Pipeline Co. LLC | ||
| 7.00%, 10/15/28 | 100,000 | 109,038 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Tosco Corp. | ||
| 8.13%, 02/15/30 | 150,000 | 183,302 |
| TotalEnergies Capital International S.A. | ||
| 3.46%, 02/19/29 (a) | 450,000 | 429,426 |
| 2.83%, 01/10/30 (a) | 210,000 | 190,564 |
| TotalEnergies Capital S.A. | ||
| 3.88%, 10/11/28 | 175,000 | 172,722 |
| TransCanada PipeLines Ltd. | ||
| 4.25%, 05/15/28 (a) | 475,000 | 462,659 |
| 4.10%, 04/15/30 (a) | 250,000 | 239,165 |
| 2.50%, 10/12/31 (a) | 200,000 | 166,482 |
| Transcontinental Gas Pipe Line Co. LLC | ||
| 4.00%, 03/15/28 (a) | 175,000 | 170,214 |
| 3.25%, 05/15/30 (a) | 50,000 | 44,960 |
| Valero Energy Corp. | ||
| 2.15%, 09/15/27 (a) | 100,000 | 89,257 |
| 4.35%, 06/01/28 (a) | 150,000 | 146,168 |
| 4.00%, 04/01/29 (a) | 275,000 | 260,067 |
| 2.80%, 12/01/31 (a) | 225,000 | 189,169 |
| 7.50%, 04/15/32 | 100,000 | 115,881 |
| Valero Energy Partners LP | ||
| 4.50%, 03/15/28 (a) | 150,000 | 148,154 |
| Williams Cos., Inc. | ||
| 3.50%, 11/15/30 (a) | 325,000 | 293,368 |
| 2.60%, 03/15/31 (a) | 350,000 | 293,555 |
| 8.75%, 03/15/32 | 175,000 | 222,000 |
| 25,013,080 | ||
| Industrial Other 0.2% | ||
| Emory University | ||
| 2.14%, 09/01/30 (a) | 250,000 | 219,160 |
| Quanta Services, Inc. | ||
| 2.90%, 10/01/30 (a) | 325,000 | 267,728 |
| 2.35%, 01/15/32 (a) | 125,000 | 96,786 |
| Yale University | ||
| 1.48%, 04/15/30 (a) | 150,000 | 127,253 |
| 710,927 | ||
| Technology 9.7% | ||
| Adobe, Inc. | ||
| 2.30%, 02/01/30 (a) | 225,000 | 199,172 |
| Advanced Micro Devices, Inc. | ||
| 3.92%, 06/01/32 (a) | 150,000 | 147,679 |
| Alphabet, Inc. | ||
| 0.80%, 08/15/27 (a) | 200,000 | 173,814 |
| 1.10%, 08/15/30 (a) | 400,000 | 328,504 |
| Amdocs Ltd. | ||
| 2.54%, 06/15/30 (a) | 125,000 | 106,218 |
| Analog Devices, Inc. | ||
| 1.70%, 10/01/28 (a) | 200,000 | 175,760 |
| 2.10%, 10/01/31 (a) | 175,000 | 149,396 |
| Apple Inc. | ||
| 2.90%, 09/12/27 (a) | 450,000 | 434,488 |
| 3.00%, 11/13/27 (a) | 375,000 | 363,885 |
| 1.20%, 02/08/28 (a) | 400,000 | 350,252 |
| 1.40%, 08/05/28 (a) | 400,000 | 350,824 |
| 2.20%, 09/11/29 (a) | 525,000 | 472,857 |
| 1.65%, 05/11/30 (a) | 525,000 | 447,153 |
| 1.25%, 08/20/30 (a) | 400,000 | 328,884 |
| 1.65%, 02/08/31 (a) | 600,000 | 504,540 |
| 1.70%, 08/05/31 (a) | 350,000 | 293,622 |
156
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Arrow Electronics, Inc. | ||
| 3.88%, 01/12/28 (a) | 75,000 | 71,514 |
| 2.95%, 02/15/32 (a) | 50,000 | 41,716 |
| Autodesk, Inc. | ||
| 3.50%, 06/15/27 (a) | 100,000 | 95,925 |
| 2.85%, 01/15/30 (a) | 85,000 | 74,236 |
| 2.40%, 12/15/31 (a) | 200,000 | 163,334 |
| Automatic Data Processing, Inc. | ||
| 1.70%, 05/15/28 (a) | 300,000 | 270,306 |
| 1.25%, 09/01/30 (a) | 250,000 | 204,405 |
| Avnet, Inc. | ||
| 3.00%, 05/15/31 (a) | 100,000 | 82,619 |
| Baidu, Inc. | ||
| 3.63%, 07/06/27 | 200,000 | 193,020 |
| 4.38%, 03/29/28 (a) | 200,000 | 197,510 |
| 3.43%, 04/07/30 (a) | 200,000 | 183,688 |
| 2.38%, 10/09/30 (a) | 200,000 | 169,072 |
| Broadcom Corp./Broadcom Cayman Finance Ltd. | ||
| 3.50%, 01/15/28 (a) | 275,000 | 254,815 |
| Broadcom, Inc. | ||
| 1.95%, 02/15/28 (a)(d) | 100,000 | 85,229 |
| 4.11%, 09/15/28 (a) | 300,000 | 285,009 |
| 4.75%, 04/15/29 (a) | 360,000 | 350,518 |
| 5.00%, 04/15/30 (a) | 400,000 | 393,944 |
| 4.15%, 11/15/30 (a) | 475,000 | 435,727 |
| 2.45%, 02/15/31 (a)(d) | 450,000 | 361,953 |
| 4.15%, 04/15/32 (a)(d) | 375,000 | 340,050 |
| Broadridge Financial Solutions, Inc. | ||
| 2.90%, 12/01/29 (a) | 100,000 | 87,768 |
| 2.60%, 05/01/31 (a) | 375,000 | 313,485 |
| CDW LLC | ||
| 4.25%, 04/01/28 (a) | 150,000 | 136,257 |
| 3.25%, 02/15/29 (a) | 200,000 | 168,652 |
| CDW LLC/CDW Finance Corp. | ||
| 3.28%, 12/01/28 (a) | 200,000 | 172,832 |
| 3.57%, 12/01/31 (a) | 225,000 | 186,367 |
| CGI, Inc. | ||
| 2.30%, 09/14/31 (a) | 150,000 | 121,145 |
| Citrix Systems, Inc. | ||
| 4.50%, 12/01/27 (a) | 100,000 | 99,063 |
| 3.30%, 03/01/30 (a) | 175,000 | 171,222 |
| Dell International LLC/EMC Corp. | ||
| 6.10%, 07/15/27 (a) | 50,000 | 52,451 |
| 5.30%, 10/01/29 (a) | 330,000 | 325,667 |
| 6.20%, 07/15/30 (a) | 175,000 | 182,192 |
| Dell, Inc. | ||
| 7.10%, 04/15/28 | 300,000 | 327,336 |
| DXC Technology Co. | ||
| 2.38%, 09/15/28 (a) | 100,000 | 86,102 |
| Equifax, Inc. | ||
| 3.10%, 05/15/30 (a) | 100,000 | 87,939 |
| 2.35%, 09/15/31 (a) | 350,000 | 279,699 |
| Equinix, Inc. | ||
| 1.80%, 07/15/27 (a) | 150,000 | 130,335 |
| 1.55%, 03/15/28 (a) | 100,000 | 84,207 |
| 2.00%, 05/15/28 (a) | 50,000 | 43,003 |
| 3.20%, 11/18/29 (a) | 150,000 | 133,560 |
| 2.15%, 07/15/30 (a) | 400,000 | 325,120 |
| 2.50%, 05/15/31 (a) | 300,000 | 243,351 |
| 3.90%, 04/15/32 (a) | 300,000 | 271,467 |
| FactSet Research Systems, Inc. | ||
| 3.45%, 03/01/32 (a) | 125,000 | 109,838 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Fidelity National Information Services, Inc. | ||
| 1.65%, 03/01/28 (a) | 50,000 | 42,772 |
| 3.75%, 05/21/29 (a) | 275,000 | 257,359 |
| 2.25%, 03/01/31 (a) | 250,000 | 203,562 |
| Fiserv, Inc. | ||
| 4.20%, 10/01/28 (a) | 175,000 | 169,283 |
| 3.50%, 07/01/29 (a) | 900,000 | 821,187 |
| 2.65%, 06/01/30 (a) | 175,000 | 148,202 |
| Flex Ltd. | ||
| 4.88%, 06/15/29 (a) | 150,000 | 144,983 |
| 4.88%, 05/12/30 (a) | 150,000 | 143,243 |
| Fortinet, Inc. | ||
| 2.20%, 03/15/31 (a) | 150,000 | 122,040 |
| Global Payments, Inc. | ||
| 4.45%, 06/01/28 (a) | 125,000 | 120,370 |
| 3.20%, 08/15/29 (a) | 280,000 | 244,980 |
| 2.90%, 05/15/30 (a) | 225,000 | 189,783 |
| 2.90%, 11/15/31 (a) | 250,000 | 205,002 |
| HP, Inc. | ||
| 3.00%, 06/17/27 (a) | 150,000 | 138,720 |
| 3.40%, 06/17/30 (a) | 350,000 | 305,588 |
| 2.65%, 06/17/31 (a) | 425,000 | 341,717 |
| 4.20%, 04/15/32 (a) | 150,000 | 133,979 |
| Intel Corp. | ||
| 1.60%, 08/12/28 (a) | 300,000 | 263,091 |
| 2.45%, 11/15/29 (a) | 550,000 | 491,139 |
| 3.90%, 03/25/30 (a) | 275,000 | 270,083 |
| 2.00%, 08/12/31 (a) | 300,000 | 251,610 |
| International Business Machines Corp. | ||
| 6.22%, 08/01/27 | 125,000 | 136,884 |
| 6.50%, 01/15/28 | 135,000 | 149,604 |
| 3.50%, 05/15/29 | 625,000 | 592,250 |
| 1.95%, 05/15/30 (a) | 500,000 | 420,410 |
| 2.72%, 02/09/32 (a) | 100,000 | 86,860 |
| Intuit, Inc. | ||
| 1.35%, 07/15/27 (a) | 150,000 | 131,522 |
| 1.65%, 07/15/30 (a) | 100,000 | 82,438 |
| Jabil, Inc. | ||
| 3.95%, 01/12/28 (a) | 100,000 | 95,690 |
| 3.60%, 01/15/30 (a) | 60,000 | 53,563 |
| 3.00%, 01/15/31 (a) | 125,000 | 104,833 |
| Juniper Networks, Inc. | ||
| 3.75%, 08/15/29 (a) | 250,000 | 229,640 |
| 2.00%, 12/10/30 (a) | 100,000 | 78,450 |
| Keysight Technologies, Inc. | ||
| 3.00%, 10/30/29 (a) | 125,000 | 111,410 |
| KLA Corp. | ||
| 4.10%, 03/15/29 (a) | 150,000 | 148,885 |
| Kyndryl Holdings, Inc. | ||
| 2.70%, 10/15/28 (a)(d) | 125,000 | 99,676 |
| 3.15%, 10/15/31 (a)(d) | 150,000 | 110,496 |
| Lam Research Corp. | ||
| 4.00%, 03/15/29 (a) | 150,000 | 147,665 |
| 1.90%, 06/15/30 (a) | 250,000 | 211,510 |
| Leidos, Inc. | ||
| 4.38%, 05/15/30 (a) | 300,000 | 277,188 |
| 2.30%, 02/15/31 (a) | 100,000 | 79,492 |
| Marvell Technology, Inc. | ||
| 2.45%, 04/15/28 (a) | 125,000 | 109,100 |
| 4.88%, 06/22/28 (a) | 50,000 | 49,418 |
| 2.95%, 04/15/31 (a) | 150,000 | 125,546 |
| Mastercard, Inc. | ||
| 3.50%, 02/26/28 (a) | 150,000 | 148,008 |
| 2.95%, 06/01/29 (a) | 225,000 | 211,214 |
157
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 3.35%, 03/26/30 (a) | 300,000 | 286,479 |
| 1.90%, 03/15/31 (a) | 150,000 | 128,210 |
| 2.00%, 11/18/31 (a) | 150,000 | 126,960 |
| Maxim Integrated Products, Inc. | ||
| 3.45%, 06/15/27 (a) | 90,000 | 85,970 |
| Micron Technology, Inc. | ||
| 5.33%, 02/06/29 (a) | 125,000 | 124,901 |
| 4.66%, 02/15/30 (a) | 225,000 | 216,254 |
| 2.70%, 04/15/32 (a) | 200,000 | 159,892 |
| Moody's Corp. | ||
| 3.25%, 01/15/28 (a) | 225,000 | 213,048 |
| 4.25%, 02/01/29 (a) | 50,000 | 49,747 |
| 2.00%, 08/19/31 (a) | 100,000 | 81,742 |
| Motorola Solutions, Inc. | ||
| 4.60%, 02/23/28 (a) | 300,000 | 293,016 |
| 4.60%, 05/23/29 (a) | 25,000 | 23,888 |
| 2.30%, 11/15/30 (a) | 375,000 | 293,647 |
| 2.75%, 05/24/31 (a) | 200,000 | 162,190 |
| NetApp, Inc. | ||
| 2.38%, 06/22/27 (a) | 150,000 | 136,251 |
| 2.70%, 06/22/30 (a) | 175,000 | 147,766 |
| NVIDIA Corp. | ||
| 1.55%, 06/15/28 (a) | 200,000 | 175,632 |
| 2.85%, 04/01/30 (a) | 300,000 | 274,848 |
| 2.00%, 06/15/31 (a) | 275,000 | 233,849 |
| NXP BV/NXP Funding LLC | ||
| 5.55%, 12/01/28 (a) | 250,000 | 255,002 |
| NXP BV/NXP Funding LLC/NXP USA, Inc. | ||
| 4.30%, 06/18/29 (a) | 275,000 | 264,718 |
| 3.40%, 05/01/30 (a) | 250,000 | 222,995 |
| 2.50%, 05/11/31 (a) | 250,000 | 206,135 |
| 2.65%, 02/15/32 (a) | 200,000 | 164,526 |
| Oracle Corp. | ||
| 3.25%, 11/15/27 (a) | 675,000 | 622,471 |
| 2.30%, 03/25/28 (a) | 400,000 | 344,600 |
| 2.95%, 04/01/30 (a) | 600,000 | 512,340 |
| 3.25%, 05/15/30 (a) | 250,000 | 217,440 |
| 2.88%, 03/25/31 (a) | 900,000 | 741,888 |
| PayPal Holdings, Inc. | ||
| 3.90%, 06/01/27 (a) | 150,000 | 149,409 |
| 2.85%, 10/01/29 (a) | 225,000 | 204,075 |
| 2.30%, 06/01/30 (a) | 325,000 | 280,023 |
| 4.40%, 06/01/32 (a) | 300,000 | 297,192 |
| Qorvo, Inc. | ||
| 4.38%, 10/15/29 (a) | 225,000 | 198,502 |
| QUALCOMM, Inc. | ||
| 1.30%, 05/20/28 (a) | 150,000 | 130,103 |
| 2.15%, 05/20/30 (a) | 375,000 | 329,295 |
| 1.65%, 05/20/32 (a) | 350,000 | 283,104 |
| RELX Capital, Inc. | ||
| 4.00%, 03/18/29 (a) | 260,000 | 251,688 |
| 3.00%, 05/22/30 (a) | 100,000 | 89,903 |
| S&P Global, Inc. | ||
| 4.75%, 08/01/28 (a)(d) | 175,000 | 178,279 |
| 2.70%, 03/01/29 (a)(d) | 250,000 | 227,740 |
| 4.25%, 05/01/29 (a)(d) | 200,000 | 198,310 |
| 2.50%, 12/01/29 (a) | 150,000 | 132,761 |
| 1.25%, 08/15/30 (a) | 175,000 | 138,899 |
| 2.90%, 03/01/32 (a)(d) | 375,000 | 334,361 |
| salesforce.com, Inc. | ||
| 3.70%, 04/11/28 (a) | 350,000 | 346,125 |
| 1.50%, 07/15/28 (a) | 225,000 | 196,686 |
| 1.95%, 07/15/31 (a) | 275,000 | 234,154 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| ServiceNow, Inc. | ||
| 1.40%, 09/01/30 (a) | 350,000 | 274,277 |
| Skyworks Solutions, Inc. | ||
| 3.00%, 06/01/31 (a) | 150,000 | 122,600 |
| SYNNEX Corp. | ||
| 2.38%, 08/09/28 (a)(d) | 125,000 | 105,549 |
| 2.65%, 08/09/31 (a)(d) | 125,000 | 101,045 |
| Teledyne FLIR LLC | ||
| 2.50%, 08/01/30 (a) | 125,000 | 103,548 |
| Tencent Music Entertainment Group | ||
| 2.00%, 09/03/30 (a) | 200,000 | 156,828 |
| Texas Instruments, Inc. | ||
| 2.90%, 11/03/27 (a) | 150,000 | 143,624 |
| 2.25%, 09/04/29 (a) | 150,000 | 133,883 |
| 1.75%, 05/04/30 (a) | 125,000 | 107,026 |
| 1.90%, 09/15/31 (a) | 150,000 | 127,497 |
| Trimble, Inc. | ||
| 4.90%, 06/15/28 (a) | 150,000 | 145,689 |
| TSMC Arizona Corp. | ||
| 4.13%, 04/22/29 (a) | 200,000 | 199,734 |
| 2.50%, 10/25/31 (a) | 250,000 | 215,022 |
| 4.25%, 04/22/32 (a) | 250,000 | 247,280 |
| Tyco Electronics Group S.A. | ||
| 3.13%, 08/15/27 (a) | 125,000 | 120,295 |
| 2.50%, 02/04/32 (a) | 100,000 | 87,848 |
| VeriSign, Inc. | ||
| 4.75%, 07/15/27 (a) | 50,000 | 48,979 |
| 2.70%, 06/15/31 (a) | 200,000 | 161,156 |
| Verisk Analytics, Inc. | ||
| 4.13%, 03/15/29 (a) | 150,000 | 144,471 |
| Visa, Inc. | ||
| 0.75%, 08/15/27 (a) | 250,000 | 216,860 |
| 2.75%, 09/15/27 (a) | 200,000 | 191,144 |
| 2.05%, 04/15/30 (a) | 250,000 | 219,332 |
| 1.10%, 02/15/31 (a) | 250,000 | 200,210 |
| VMware, Inc. | ||
| 3.90%, 08/21/27 (a) | 175,000 | 168,185 |
| 1.80%, 08/15/28 (a) | 150,000 | 124,773 |
| 4.70%, 05/15/30 (a) | 375,000 | 360,825 |
| 2.20%, 08/15/31 (a) | 300,000 | 236,322 |
| Western Digital Corp. | ||
| 2.85%, 02/01/29 (a) | 200,000 | 163,118 |
| 3.10%, 02/01/32 (a) | 150,000 | 115,176 |
| Western Union Co. | ||
| 2.75%, 03/15/31 (a) | 125,000 | 102,933 |
| Workday, Inc. | ||
| 3.70%, 04/01/29 (a) | 200,000 | 187,664 |
| 3.80%, 04/01/32 (a) | 250,000 | 228,797 |
| Xilinx, Inc. | ||
| 2.38%, 06/01/30 (a) | 225,000 | 198,484 |
| 38,648,329 | ||
| Transportation 1.8% | ||
| American Airlines 2015-2 Class AA Pass-Through Trust | ||
| 3.60%, 03/22/29 | 143,157 | 131,161 |
| American Airlines 2016-1 Class AA Pass-Through Trust | ||
| 3.58%, 07/15/29 | 147,625 | 135,496 |
| American Airlines 2016-2 Class AA Pass-Through Trust | ||
| 3.20%, 12/15/29 | 166,950 | 152,168 |
| American Airlines 2016-3 Class AA Pass-Through Trust | ||
| 3.00%, 04/15/30 | 37,339 | 33,285 |
| American Airlines 2017-1 Class AA Pass-Through Trust | ||
| 3.65%, 02/15/29 | 170,438 | 156,223 |
158
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| American Airlines 2017-2 Class AA Pass-Through Trust | ||
| 3.35%, 04/15/31 | 78,351 | 70,797 |
| Canadian National Railway Co. | ||
| 6.90%, 07/15/28 | 160,000 | 182,181 |
| Canadian Pacific Railway Co. | ||
| 4.00%, 06/01/28 (a) | 100,000 | 99,219 |
| 2.05%, 03/05/30 (a) | 125,000 | 105,886 |
| 7.13%, 10/15/31 | 150,000 | 175,371 |
| 2.45%, 12/02/31 (a) | 300,000 | 257,712 |
| CH Robinson Worldwide, Inc. | ||
| 4.20%, 04/15/28 (a) | 130,000 | 125,549 |
| CSX Corp. | ||
| 3.25%, 06/01/27 (a) | 150,000 | 144,117 |
| 3.80%, 03/01/28 (a) | 150,000 | 146,800 |
| 4.25%, 03/15/29 (a) | 150,000 | 149,454 |
| 2.40%, 02/15/30 (a) | 100,000 | 87,807 |
| Delta Air Lines 2020-1 Class AA Pass-Through Trust | ||
| 2.00%, 12/10/29 | 176,082 | 155,196 |
| FedEx Corp. | ||
| 3.40%, 02/15/28 (a) | 75,000 | 71,720 |
| 4.20%, 10/17/28 (a) | 75,000 | 74,444 |
| 3.10%, 08/05/29 (a) | 170,000 | 155,239 |
| 4.25%, 05/15/30 (a) | 250,000 | 243,802 |
| 2.40%, 05/15/31 (a) | 275,000 | 232,295 |
| GXO Logistics, Inc. | ||
| 2.65%, 07/15/31 (a) | 250,000 | 197,822 |
| Kansas City Southern | ||
| 2.88%, 11/15/29 (a) | 75,000 | 67,142 |
| Kirby Corp. | ||
| 4.20%, 03/01/28 (a) | 155,000 | 144,596 |
| Norfolk Southern Corp. | ||
| 3.80%, 08/01/28 (a) | 175,000 | 172,074 |
| 2.55%, 11/01/29 (a) | 125,000 | 112,076 |
| 2.30%, 05/15/31 (a) | 100,000 | 85,573 |
| 3.00%, 03/15/32 (a) | 125,000 | 112,862 |
| Southwest Airlines Co. | ||
| 3.45%, 11/16/27 (a) | 25,000 | 23,541 |
| 2.63%, 02/10/30 (a) | 185,000 | 156,399 |
| Spirit Airlines Pass-Through Trust 2015-1A | ||
| 4.10%, 10/01/29 | 47,675 | 44,952 |
| Triton Container International Ltd./TAL International Container Corp. | ||
| 3.25%, 03/15/32 (a) | 100,000 | 81,677 |
| Union Pacific Corp. | ||
| 3.95%, 09/10/28 (a) | 250,000 | 247,140 |
| 6.63%, 02/01/29 | 75,000 | 84,856 |
| 3.70%, 03/01/29 (a) | 100,000 | 97,382 |
| 2.40%, 02/05/30 (a) | 75,000 | 66,347 |
| 2.38%, 05/20/31 (a) | 300,000 | 259,800 |
| 2.80%, 02/14/32 (a) | 400,000 | 356,108 |
| United Airlines 2016-1 Class AA Pass-Through Trust | ||
| 3.10%, 01/07/30 | 171,574 | 155,301 |
| United Airlines 2016-2 Class AA Pass-Through Trust | ||
| 2.88%, 04/07/30 | 95,265 | 86,476 |
| United Airlines 2018-1 Class AA Pass-Through Trust | ||
| 3.50%, 09/01/31 | 229,322 | 206,580 |
| United Airlines 2019-1 Class AA Pass-Through Trust | ||
| 4.15%, 02/25/33 | 39,817 | 37,128 |
| United Airlines 2019-2 Class AA Pass-Through Trust | ||
| 2.70%, 11/01/33 | 136,508 | 115,172 |
| United Airlines 2020-1 Class A Pass-Through Trust | ||
| 5.88%, 04/15/29 | 613,960 | 604,321 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| United Parcel Service, Inc. | ||
| 3.05%, 11/15/27 (a) | 175,000 | 170,469 |
| 3.40%, 03/15/29 (a) | 125,000 | 120,755 |
| 2.50%, 09/01/29 (a) | 125,000 | 113,681 |
| 4.45%, 04/01/30 (a) | 150,000 | 153,637 |
| 7,159,789 | ||
| 223,059,894 | ||
| Utility 7.4% | ||
| Electric 6.6% | ||
| AEP Texas, Inc. | ||
| 3.95%, 06/01/28 (a) | 100,000 | 97,286 |
| 2.10%, 07/01/30 (a) | 150,000 | 125,111 |
| 4.70%, 05/15/32 (a) | 125,000 | 124,731 |
| AES Corp. | ||
| 2.45%, 01/15/31 (a) | 225,000 | 181,152 |
| Alabama Power Co. | ||
| 1.45%, 09/15/30 (a) | 150,000 | 122,189 |
| 3.05%, 03/15/32 (a) | 200,000 | 182,610 |
| Ameren Corp. | ||
| 1.75%, 03/15/28 (a) | 300,000 | 258,813 |
| 3.50%, 01/15/31 (a) | 300,000 | 275,265 |
| Ameren Illinois Co. | ||
| 3.80%, 05/15/28 (a) | 35,000 | 34,450 |
| 1.55%, 11/15/30 (a) | 100,000 | 81,611 |
| American Electric Power Co., Inc. | ||
| 3.20%, 11/13/27 (a) | 150,000 | 141,849 |
| 4.30%, 12/01/28 (a) | 125,000 | 121,898 |
| 2.30%, 03/01/30 (a) | 100,000 | 84,289 |
| Appalachian Power Co. | ||
| 2.70%, 04/01/31 (a) | 75,000 | 64,753 |
| Arizona Public Service Co. | ||
| 2.95%, 09/15/27 (a) | 50,000 | 47,040 |
| 2.60%, 08/15/29 (a) | 125,000 | 109,708 |
| 2.20%, 12/15/31 (a) | 125,000 | 101,779 |
| Atlantic City Electric Co. | ||
| 2.30%, 03/15/31 (a) | 200,000 | 173,204 |
| Avangrid, Inc. | ||
| 3.80%, 06/01/29 (a) | 50,000 | 46,860 |
| Baltimore Gas and Electric Co. | ||
| 2.25%, 06/15/31 (a) | 225,000 | 192,163 |
| Berkshire Hathaway Energy Co. | ||
| 3.25%, 04/15/28 (a) | 175,000 | 166,563 |
| 3.70%, 07/15/30 (a) | 100,000 | 96,036 |
| 1.65%, 05/15/31 (a) | 175,000 | 141,748 |
| Black Hills Corp. | ||
| 3.05%, 10/15/29 (a) | 100,000 | 88,982 |
| 2.50%, 06/15/30 (a) | 150,000 | 125,611 |
| CenterPoint Energy Houston Electric LLC | ||
| 2.35%, 04/01/31 (a) | 200,000 | 174,334 |
| CenterPoint Energy, Inc. | ||
| 4.25%, 11/01/28 (a) | 20,000 | 19,621 |
| 2.95%, 03/01/30 (a) | 105,000 | 93,499 |
| 2.65%, 06/01/31 (a) | 100,000 | 85,450 |
| CMS Energy Corp. | ||
| 3.45%, 08/15/27 (a) | 25,000 | 23,990 |
| 4.75%, 06/01/50 (a)(b) | 100,000 | 88,157 |
| 3.75%, 12/01/50 (a)(b) | 75,000 | 58,250 |
| Commonwealth Edison Co. | ||
| 2.95%, 08/15/27 (a) | 100,000 | 95,585 |
| 3.70%, 08/15/28 (a) | 25,000 | 24,383 |
159
Schwab Fixed-Income ETFs | Semiannual Report
See financial notes
Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.20%, 03/01/30 (a) | 110,000 | 95,744 |
| 3.15%, 03/15/32 (a) | 50,000 | 46,130 |
| Connecticut Light and Power Co. | ||
| 2.05%, 07/01/31 (a) | 200,000 | 169,200 |
| Consolidated Edison Co. of New York, Inc. | ||
| 3.13%, 11/15/27 (a) | 169,000 | 161,403 |
| 3.80%, 05/15/28 (a) | 25,000 | 24,555 |
| 4.00%, 12/01/28 (a) | 33,000 | 32,611 |
| 3.35%, 04/01/30 (a) | 150,000 | 139,933 |
| 2.40%, 06/15/31 (a) | 325,000 | 279,760 |
| Consumers Energy Co. | ||
| 3.80%, 11/15/28 (a) | 75,000 | 73,590 |
| Dominion Energy South Carolina, Inc. | ||
| 2.30%, 12/01/31 (a) | 100,000 | 85,529 |
| 6.63%, 02/01/32 | 150,000 | 175,032 |
| Dominion Energy, Inc. | ||
| 4.25%, 06/01/28 (a) | 135,000 | 133,253 |
| 3.38%, 04/01/30 (a) | 225,000 | 206,019 |
| 2.25%, 08/15/31 (a) | 250,000 | 206,347 |
| DTE Electric Co. | ||
| 1.90%, 04/01/28 (a) | 150,000 | 134,079 |
| 2.25%, 03/01/30 (a) | 75,000 | 65,817 |
| 2.63%, 03/01/31 (a) | 100,000 | 88,885 |
| 3.00%, 03/01/32 (a) | 100,000 | 90,594 |
| DTE Energy Co. | ||
| 3.40%, 06/15/29 (a) | 325,000 | 298,717 |
| 2.95%, 03/01/30 (a) | 100,000 | 88,764 |
| Duke Energy Carolinas LLC | ||
| 3.95%, 11/15/28 (a) | 50,000 | 49,410 |
| 6.00%, 12/01/28 | 175,000 | 189,635 |
| 2.45%, 08/15/29 (a) | 125,000 | 111,744 |
| 2.45%, 02/01/30 (a) | 150,000 | 132,757 |
| 2.55%, 04/15/31 (a) | 125,000 | 109,710 |
| 2.85%, 03/15/32 (a) | 150,000 | 133,323 |
| Duke Energy Corp. | ||
| 3.15%, 08/15/27 (a) | 150,000 | 142,045 |
| 3.40%, 06/15/29 (a) | 210,000 | 192,583 |
| 2.45%, 06/01/30 (a) | 225,000 | 189,925 |
| 2.55%, 06/15/31 (a) | 225,000 | 187,148 |
| Duke Energy Florida LLC | ||
| 3.80%, 07/15/28 (a) | 125,000 | 122,341 |
| 2.50%, 12/01/29 (a) | 100,000 | 89,040 |
| 1.75%, 06/15/30 (a) | 100,000 | 83,283 |
| 2.40%, 12/15/31 (a) | 150,000 | 128,320 |
| Duke Energy Florida Project Finance LLC | ||
| 2.54%, 09/01/31 | 125,000 | 117,784 |
| Duke Energy Ohio, Inc. | ||
| 3.65%, 02/01/29 (a) | 150,000 | 143,629 |
| 2.13%, 06/01/30 (a) | 75,000 | 63,511 |
| Duke Energy Progress LLC | ||
| 3.70%, 09/01/28 (a) | 200,000 | 194,502 |
| 3.45%, 03/15/29 (a) | 150,000 | 142,851 |
| 2.00%, 08/15/31 (a) | 150,000 | 124,569 |
| Edison International | ||
| 4.13%, 03/15/28 (a) | 100,000 | 93,393 |
| Emera US Finance LP | ||
| 2.64%, 06/15/31 (a) | 100,000 | 83,243 |
| Enel Chile S.A. | ||
| 4.88%, 06/12/28 (a) | 295,000 | 282,734 |
| Entergy Arkansas LLC | ||
| 4.00%, 06/01/28 (a) | 75,000 | 73,849 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Entergy Corp. | ||
| 1.90%, 06/15/28 (a) | 150,000 | 128,938 |
| 2.80%, 06/15/30 (a) | 150,000 | 128,965 |
| 2.40%, 06/15/31 (a) | 175,000 | 142,515 |
| Entergy Louisiana LLC | ||
| 3.12%, 09/01/27 (a) | 90,000 | 85,808 |
| 3.25%, 04/01/28 (a) | 100,000 | 94,210 |
| 1.60%, 12/15/30 (a) | 200,000 | 160,394 |
| 3.05%, 06/01/31 (a) | 25,000 | 22,629 |
| Entergy Mississippi LLC | ||
| 2.85%, 06/01/28 (a) | 50,000 | 46,134 |
| Entergy Texas, Inc. | ||
| 4.00%, 03/30/29 (a) | 125,000 | 122,409 |
| 1.75%, 03/15/31 (a) | 150,000 | 122,211 |
| Evergy Metro, Inc. | ||
| 2.25%, 06/01/30 (a)(e) | 150,000 | 130,051 |
| Evergy, Inc. | ||
| 2.90%, 09/15/29 (a) | 175,000 | 154,703 |
| Eversource Energy | ||
| 4.60%, 07/01/27 (a) | 300,000 | 302,667 |
| 4.25%, 04/01/29 (a) | 150,000 | 147,060 |
| 1.65%, 08/15/30 (a) | 100,000 | 79,691 |
| 2.55%, 03/15/31 (a) | 50,000 | 42,529 |
| 3.38%, 03/01/32 (a) | 50,000 | 44,947 |
| Exelon Corp. | ||
| 4.05%, 04/15/30 (a) | 225,000 | 216,016 |
| 3.35%, 03/15/32 (a)(d) | 150,000 | 134,644 |
| Florida Power & Light Co. | ||
| 2.45%, 02/03/32 (a) | 300,000 | 261,900 |
| Georgia Power Co. | ||
| 2.65%, 09/15/29 (a) | 145,000 | 127,971 |
| 4.70%, 05/15/32 (a) | 100,000 | 100,503 |
| Indiana Michigan Power Co. | ||
| 3.85%, 05/15/28 (a) | 50,000 | 48,496 |
| Interstate Power and Light Co. | ||
| 4.10%, 09/26/28 (a) | 50,000 | 49,529 |
| 3.60%, 04/01/29 (a) | 100,000 | 95,538 |
| 2.30%, 06/01/30 (a) | 100,000 | 85,636 |
| IPALCO Enterprises, Inc. | ||
| 4.25%, 05/01/30 (a) | 125,000 | 116,586 |
| ITC Holdings Corp. | ||
| 3.35%, 11/15/27 (a) | 155,000 | 148,078 |
| MidAmerican Energy Co. | ||
| 3.65%, 04/15/29 (a) | 175,000 | 170,513 |
| 6.75%, 12/30/31 | 150,000 | 177,648 |
| Mississippi Power Co. | ||
| 3.95%, 03/30/28 (a) | 100,000 | 97,403 |
| National Rural Utilities Cooperative Finance Corp. | ||
| 3.40%, 02/07/28 (a) | 50,000 | 47,983 |
| 3.90%, 11/01/28 (a) | 80,000 | 78,271 |
| 3.70%, 03/15/29 (a) | 150,000 | 143,469 |
| 2.40%, 03/15/30 (a) | 125,000 | 108,860 |
| 1.35%, 03/15/31 (a) | 100,000 | 78,030 |
| 1.65%, 06/15/31 (a) | 100,000 | 79,831 |
| 2.75%, 04/15/32 (a) | 200,000 | 174,446 |
| Nevada Power Co. | ||
| 3.70%, 05/01/29 (a) | 100,000 | 96,432 |
| 2.40%, 05/01/30 (a) | 75,000 | 65,485 |
| NextEra Energy Capital Holdings, Inc. | ||
| 4.63%, 07/15/27 (a) | 300,000 | 304,011 |
| 1.90%, 06/15/28 (a) | 600,000 | 522,594 |
| 3.50%, 04/01/29 (a) | 125,000 | 116,849 |
| 2.75%, 11/01/29 (a) | 225,000 | 199,017 |
| 2.25%, 06/01/30 (a) | 450,000 | 378,220 |
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Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| 2.44%, 01/15/32 (a) | 250,000 | 208,297 |
| 4.80%, 12/01/77 (a)(b) | 125,000 | 103,870 |
| 5.65%, 05/01/79 (a)(b) | 50,000 | 44,166 |
| Northern States Power Co. | ||
| 2.25%, 04/01/31 (a) | 50,000 | 43,821 |
| NSTAR Electric Co. | ||
| 3.25%, 05/15/29 (a) | 100,000 | 94,738 |
| 3.95%, 04/01/30 (a) | 25,000 | 24,574 |
| 1.95%, 08/15/31 (a) | 150,000 | 124,875 |
| Ohio Power Co. | ||
| 2.60%, 04/01/30 (a) | 125,000 | 110,816 |
| 1.63%, 01/15/31 (a) | 100,000 | 80,939 |
| Oklahoma Gas and Electric Co. | ||
| 3.80%, 08/15/28 (a) | 75,000 | 73,073 |
| 3.30%, 03/15/30 (a) | 130,000 | 120,509 |
| 3.25%, 04/01/30 (a) | 50,000 | 46,218 |
| Oncor Electric Delivery Co. LLC | ||
| 3.70%, 11/15/28 (a) | 125,000 | 121,713 |
| 5.75%, 03/15/29 (a) | 50,000 | 54,298 |
| 2.75%, 05/15/30 (a) | 100,000 | 90,999 |
| 4.15%, 06/01/32 (a)(d) | 100,000 | 100,648 |
| Pacific Gas and Electric Co. | ||
| 2.10%, 08/01/27 (a) | 200,000 | 168,084 |
| 3.30%, 12/01/27 (a) | 300,000 | 262,305 |
| 3.00%, 06/15/28 (a) | 175,000 | 151,772 |
| 3.75%, 07/01/28 | 228,000 | 201,577 |
| 4.65%, 08/01/28 (a) | 150,000 | 139,692 |
| 4.55%, 07/01/30 (a) | 775,000 | 688,572 |
| 2.50%, 02/01/31 (a) | 400,000 | 307,584 |
| 3.25%, 06/01/31 (a) | 125,000 | 101,024 |
| 4.40%, 03/01/32 (a) | 225,000 | 195,986 |
| 5.90%, 06/15/32 (a) | 200,000 | 193,304 |
| PacifiCorp | ||
| 3.50%, 06/15/29 (a) | 150,000 | 142,692 |
| 2.70%, 09/15/30 (a) | 100,000 | 88,613 |
| PG&E Wildfire Recovery Funding LLC | ||
| 3.59%, 06/01/32 | 125,000 | 124,808 |
| PPL Capital Funding, Inc. | ||
| 4.13%, 04/15/30 (a) | 75,000 | 72,045 |
| Progress Energy, Inc. | ||
| 7.75%, 03/01/31 | 225,000 | 263,934 |
| 7.00%, 10/30/31 | 75,000 | 84,562 |
| Public Service Co. of Colorado | ||
| 3.70%, 06/15/28 (a) | 150,000 | 148,054 |
| 1.90%, 01/15/31 (a) | 125,000 | 105,596 |
| 1.88%, 06/15/31 (a) | 150,000 | 125,437 |
| Public Service Co. of New Hampshire | ||
| 2.20%, 06/15/31 (a) | 150,000 | 128,206 |
| Public Service Electric and Gas Co. | ||
| 3.65%, 09/01/28 (a) | 50,000 | 48,780 |
| 3.20%, 05/15/29 (a) | 100,000 | 94,840 |
| 2.45%, 01/15/30 (a) | 270,000 | 241,674 |
| 3.10%, 03/15/32 (a) | 100,000 | 92,185 |
| Public Service Enterprise Group, Inc. | ||
| 1.60%, 08/15/30 (a) | 225,000 | 179,397 |
| 2.45%, 11/15/31 (a) | 150,000 | 125,641 |
| Puget Energy, Inc. | ||
| 2.38%, 06/15/28 (a) | 100,000 | 87,802 |
| 4.10%, 06/15/30 (a) | 100,000 | 93,265 |
| 4.22%, 03/15/32 (a) | 175,000 | 161,877 |
| San Diego Gas & Electric Co. | ||
| 1.70%, 10/01/30 (a) | 100,000 | 82,278 |
| 3.00%, 03/15/32 (a) | 200,000 | 179,342 |
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Southern California Edison Co. | ||
| 4.70%, 06/01/27 (a) | 150,000 | 150,607 |
| 3.65%, 03/01/28 (a) | 75,000 | 71,095 |
| 4.20%, 03/01/29 (a) | 150,000 | 144,637 |
| 6.65%, 04/01/29 | 75,000 | 79,995 |
| 2.85%, 08/01/29 (a) | 100,000 | 88,820 |
| 2.25%, 06/01/30 (a) | 125,000 | 104,955 |
| 2.50%, 06/01/31 (a) | 125,000 | 105,341 |
| 2.75%, 02/01/32 (a) | 125,000 | 106,048 |
| Southern Co. | ||
| 5.11%, 08/01/27 | 300,000 | 303,285 |
| 3.70%, 04/30/30 (a) | 200,000 | 185,842 |
| Southwestern Electric Power Co. | ||
| 4.10%, 09/15/28 (a) | 175,000 | 169,431 |
| Tampa Electric Co. | ||
| 2.40%, 03/15/31 (a) | 125,000 | 108,295 |
| Tucson Electric Power Co. | ||
| 1.50%, 08/01/30 (a) | 125,000 | 100,173 |
| Union Electric Co. | ||
| 3.50%, 03/15/29 (a) | 75,000 | 71,923 |
| 2.95%, 03/15/30 (a) | 125,000 | 114,038 |
| Virginia Electric and Power Co. | ||
| 3.80%, 04/01/28 (a) | 150,000 | 146,709 |
| 2.88%, 07/15/29 (a) | 100,000 | 91,593 |
| 2.30%, 11/15/31 (a) | 150,000 | 127,548 |
| 2.40%, 03/30/32 (a) | 125,000 | 107,073 |
| WEC Energy Group, Inc. | ||
| 1.38%, 10/15/27 (a) | 100,000 | 86,813 |
| 2.20%, 12/15/28 (a) | 100,000 | 87,696 |
| 1.80%, 10/15/30 (a) | 150,000 | 120,855 |
| Wisconsin Power and Light Co. | ||
| 3.05%, 10/15/27 (a) | 100,000 | 94,943 |
| 3.00%, 07/01/29 (a) | 50,000 | 46,429 |
| 1.95%, 09/16/31 (a) | 75,000 | 62,340 |
| Xcel Energy, Inc. | ||
| 4.00%, 06/15/28 (a) | 150,000 | 147,069 |
| 2.60%, 12/01/29 (a) | 150,000 | 131,907 |
| 3.40%, 06/01/30 (a) | 100,000 | 92,171 |
| 2.35%, 11/15/31 (a) | 150,000 | 124,350 |
| 4.60%, 06/01/32 (a) | 250,000 | 248,470 |
| 25,951,014 | ||
| Natural Gas 0.5% | ||
| Atmos Energy Corp. | ||
| 2.63%, 09/15/29 (a) | 125,000 | 111,484 |
| 1.50%, 01/15/31 (a) | 200,000 | 160,530 |
| CenterPoint Energy Resources Corp. | ||
| 4.00%, 04/01/28 (a) | 75,000 | 73,368 |
| 1.75%, 10/01/30 (a) | 150,000 | 121,897 |
| NiSource, Inc. | ||
| 2.95%, 09/01/29 (a) | 150,000 | 133,300 |
| 3.60%, 05/01/30 (a) | 250,000 | 229,350 |
| 1.70%, 02/15/31 (a) | 200,000 | 156,318 |
| ONE Gas, Inc. | ||
| 2.00%, 05/15/30 (a) | 100,000 | 84,016 |
| Piedmont Natural Gas Co., Inc. | ||
| 3.50%, 06/01/29 (a) | 160,000 | 148,931 |
| 2.50%, 03/15/31 (a) | 75,000 | 63,469 |
| Sempra Energy | ||
| 3.40%, 02/01/28 (a) | 275,000 | 259,900 |
| Southern California Gas Co. | ||
| 2.55%, 02/01/30 (a) | 150,000 | 132,876 |
| Southern Co. Gas Capital Corp. | ||
| 1.75%, 01/15/31 (a) | 200,000 | 158,128 |
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Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
| SECURITY RATE, MATURITY DATE | FACE AMOUNT ($) | VALUE ($) |
| Southwest Gas Corp. | ||
| 2.20%, 06/15/30 (a) | 150,000 | 121,622 |
| 4.05%, 03/15/32 (a) | 150,000 | 136,827 |
| 2,092,016 | ||
| Utility Other 0.3% | ||
| American Water Capital Corp. | ||
| 2.95%, 09/01/27 (a) | 160,000 | 150,472 |
| 3.75%, 09/01/28 (a) | 100,000 | 96,839 |
| 3.45%, 06/01/29 (a) | 175,000 | 164,817 |
| 2.80%, 05/01/30 (a) | 200,000 | 179,538 |
| 2.30%, 06/01/31 (a) | 50,000 | 42,370 |
| 4.45%, 06/01/32 (a) | 250,000 | 248,650 |
| Essential Utilities, Inc. | ||
| 3.57%, 05/01/29 (a) | 75,000 | 70,304 |
| 2.70%, 04/15/30 (a) | 150,000 | 131,493 |
| 2.40%, 05/01/31 (a) | 125,000 | 104,545 |
| United Utilities plc | ||
| 6.88%, 08/15/28 | 25,000 | 27,183 |
| 1,216,211 | ||
| 29,259,241 | ||
| Total Corporates (Cost $445,164,903) | 392,159,127 | |
| SECURITY | NUMBER OF SHARES | VALUE ($) |
| SHORT-TERM INVESTMENTS 0.5% OF NET ASSETS | ||
| Money Market Funds 0.5% | ||
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (i) | 1,554,385 | 1,554,385 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class 1.43% (i)(j) | 471,805 | 471,805 |
| 2,026,190 | ||
| Total Short-Term Investments (Cost $2,026,190) | 2,026,190 | |
| Total Investments in Securities (Cost $447,191,093) | 394,185,317 | |
| NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
| FUTURES CONTRACTS | |||
| Long | |||
| 10 Year US Treasury Note (CBOT), expires 09/21/22 | 9 | 1,066,781 | (14) |
| (a) | The effective maturity may be shorter than the final maturity shown because of the possibility of interim principal payments and prepayments or as the result of embedded demand features (puts or calls). |
| (b) | Security is in a fixed-rate coupon period. Based on index eligibility requirements and the fund’s investment objective this security will be removed from the index prior to converting to a floating rate security. |
| (c) | Issuer is affiliated with the fund’s investment adviser. |
| (d) | 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 $6,993,358 or 1.8% of net assets. |
| (e) | All or a portion of this security is on loan. Securities on loan were valued at $252,895. |
| (f) | Interest rate is subject to adjustments from time to time if a nationally recognized statistical rating organization downgrades (or subsequently upgrades) the debt rating assigned to the bond. |
| (g) | All or a portion of this security is held as collateral for delayed-delivery securities. |
| (h) | Security or a portion of the security purchased on a delayed-delivery or when-issued basis. |
| (i) | The rate shown is the 7-day yield. |
| (j) | Security purchased with cash collateral received for securities on loan. |
| CBOT — | Chicago Board of Trade |
| REIT — | Real Estate Investment Trust |
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Schwab 5-10 Year Corporate Bond ETF
Portfolio Holdings as of June 30, 2022 (Unaudited) (continued)
Below is a summary of the fund’s transactions with affiliated issuers during the period ended June 30, 2022:
| SECURITY RATE, MATURITY DATE | VALUE AT 12/31/21 | PURCHASES | SALES | REALIZED GAINS (LOSSES) | NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) | ACCRETION OF DISCOUNTS (AMORTIZATION OF PREMIUMS) | VALUE AT 6/30/22 | FACE AMOUNT AT 6/30/22 | INTEREST INCOME EARNED |
| CORPORATES 0.3% OF NET ASSETS | |||||||||
| Financial Institutions 0.3% | |||||||||
| Brokerage/Asset Managers/Exchanges 0.3% | |||||||||
| The Charles Schwab Corp. | |||||||||
| 3.20%, 03/02/27 | $107,120 | $— | ($100,677) | ($7,494) | $1,486 | ($435) | $— | $— | $827 |
| 3.30%, 04/01/27 | 107,400 | — | (98,093) | (10,210) | 1,446 | (543) | — | — | 1,118 |
| 3.20%, 01/25/28 | 107,595 | — | — | — | (11,226) | (636) | 95,733 | 100,000 | 1,600 |
| 2.00%, 03/20/28 | 202,678 | — | — | — | (23,614) | (266) | 178,798 | 200,000 | 2,000 |
| 4.00%, 02/01/29 | 56,134 | 54,008 | — | — | (10,871) | (750) | 98,521 | 100,000 | 1,661 |
| 3.25%, 05/22/29 | 86,110 | 26,316 | — | — | (14,122) | (472) | 97,832 | 105,000 | 1,650 |
| 2.75%, 10/01/29 | 78,552 | — | — | — | (10,705) | (216) | 67,631 | 75,000 | 1,031 |
| 4.63%, 03/22/30 | 88,948 | — | — | — | (12,510) | (411) | 76,027 | 75,000 | 1,734 |
| 1.65%, 03/11/31 | 120,254 | — | — | — | (19,990) | 281 | 100,545 | 125,000 | 1,031 |
| 2.30%, 05/13/31 | 126,337 | — | — | — | (20,295) | (163) | 105,879 | 125,000 | 1,438 |
| 1.95%, 12/01/31 | — | 147,642 | — | — | (18,130) | 350 | 129,862 | 160,000 | 1,152 |
| 2.90%, 03/03/32 | — | 186,756 | — | — | (15,116) | 163 | 171,803 | 195,000 | 1,343 |
| Total | $1,081,128 | $414,722 | ($198,770) | ($17,704) | ($153,647) | ($3,098) | $1,122,631 | $16,585 | |
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2022 (see financial note 2(a) for additional information):
| DESCRIPTION | QUOTED PRICES IN ACTIVE MARKETS FOR IDENTICAL ASSETS (LEVEL 1) | OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2) | SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | TOTAL |
| Assets | ||||
| Corporates 1 | $— | $392,159,127 | $— | $392,159,127 |
| Short-Term Investments1 | 2,026,190 | — | — | 2,026,190 |
| Liabilities | ||||
| Futures Contracts2 | (14) | — | — | (14) |
| Total | $2,026,176 | $392,159,127 | $— | $394,185,303 |
| 1 | As categorized in the Portfolio Holdings. |
| 2 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
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Schwab 5-10 Year Corporate Bond ETF
Statement of Assets and Liabilities
As of June 30, 2022; unaudited
| Assets | ||
| Investments in securities, at value - affiliated (cost $1,276,639) | $1,122,631 | |
| Investments in securities, at value - unaffiliated (cost $445,914,454) including securities on loan of $252,895 | 393,062,686 | |
| Deposit with broker for futures contracts | 36,250 | |
| Receivables: | ||
| Investments sold | 11,436,151 | |
| Interest | 3,697,394 | |
| Dividends | 986 | |
| Income from securities on loan | + | 604 |
| Total assets | 409,356,702 | |
| Liabilities | ||
| Collateral held for securities on loan | 471,805 | |
| Payables: | ||
| Fund shares redeemed | 8,924,454 | |
| Investments bought | 2,764,671 | |
| Investments bought - delayed delivery | 43,241 | |
| Management fees | 13,045 | |
| Variation margin on futures contracts | + | 2,005 |
| Total liabilities | 12,219,221 | |
| Net assets | $397,137,481 | |
| Net Assets by Source | ||
| Capital received from investors | $456,323,122 | |
| Total distributable loss | + | (59,185,641) |
| Net assets | $397,137,481 | |
| Net Asset Value (NAV) | ||||
| Net Assets | ÷ | Shares Outstanding | = | NAV |
| $397,137,481 | 8,900,000 | $44.62 | ||
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Schwab 5-10 Year Corporate Bond ETF
Statement of Operations
| For the period January 1, 2022 through June 30, 2022; unaudited | ||
| Investment Income | ||
| Interest received from securities - unaffiliated | $4,746,655 | |
| Interest received from securities - affiliated | 13,487 | |
| Dividends received from securities - unaffiliated | 3,175 | |
| Securities on loan, net | + | 3,926 |
| Total investment income | 4,767,243 | |
| Expenses | ||
| Management fees | 74,157 | |
| Total expenses | – | 74,157 |
| Net investment income | 4,693,086 | |
| REALIZED AND UNREALIZED GAINS (LOSSES) | ||
| Net realized losses on sales of securities - unaffiliated | (1,600,258) | |
| Net realized losses on sales of in-kind redemptions - affiliated | (17,704) | |
| Net realized losses on sales of in-kind redemptions - unaffiliated | (4,760,968) | |
| Net realized losses on futures contracts | + | (49,073) |
| Net realized losses | (6,428,003) | |
| Net change in unrealized appreciation (depreciation) on securities - affiliated | (153,647) | |
| Net change in unrealized appreciation (depreciation) on securities - unaffiliated | (48,563,105) | |
| Net change in unrealized appreciation (depreciation) on futures contracts | + | 225 |
| Net change in unrealized appreciation (depreciation) | + | (48,716,527) |
| Net realized and unrealized losses | (55,144,530) | |
| Decrease in net assets resulting from operations | ($50,451,444) | |
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Schwab 5-10 Year Corporate Bond ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
| OPERATIONS | |||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||
| Net investment income | $4,693,086 | $6,841,316 | |
| Net realized gains (losses) | (6,428,003) | 1,468,611 | |
| Net change in unrealized appreciation (depreciation) | + | (48,716,527) | (14,566,712) |
| Decrease in net assets from operations | ($50,451,444) | ($6,256,785) | |
| DISTRIBUTIONS TO SHAREHOLDERS | |||
| Total distributions | ($3,758,490) | ($6,826,280) | |
| TRANSACTIONS IN FUND SHARES | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | VALUE | SHARES | VALUE | ||
| Shares sold | 3,100,000 | $143,868,847 | 8,400,000 | $442,848,633 | |
| Shares redeemed | + | (1,450,000) | (67,576,311) | (4,700,000) | (245,294,686) |
| Net transactions in fund shares | 1,650,000 | $76,292,536 | 3,700,000 | $197,553,947 | |
| SHARES OUTSTANDING AND NET ASSETS | |||||
| 1/1/22-6/30/22 | 1/1/21-12/31/21 | ||||
| SHARES | NET ASSETS | SHARES | NET ASSETS | ||
| Beginning of period | 7,250,000 | $375,054,879 | 3,550,000 | $190,583,997 | |
| Total increase | + | 1,650,000 | 22,082,602 | 3,700,000 | 184,470,882 |
| End of period | 8,900,000 | $397,137,481 | 7,250,000 | $375,054,879 | |
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See financial notes
Schwab Fixed-Income ETFs
Financial Notes, unaudited
1. Business Structure of the Funds:
Each of the funds 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 operational 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. TIPS ETF | Schwab U.S. Dividend Equity ETF |
| Schwab Short-Term U.S. Treasury ETF | Schwab International Dividend Equity ETF |
| Schwab Intermediate-Term U.S. Treasury ETF | Schwab International Equity ETF |
| Schwab Long-Term U.S. Treasury ETF | Schwab International Small-Cap Equity ETF |
| Schwab U.S. Aggregate Bond ETF | Schwab Emerging Markets Equity ETF |
| Schwab 1-5 Year Corporate Bond ETF | Schwab U.S. REIT ETF |
| Schwab 5-10 Year Corporate Bond ETF | Schwab Fundamental U.S. Broad Market Index ETF |
| Schwab U.S. Broad Market ETF | Schwab Fundamental U.S. Large Company Index ETF |
| Schwab 1000 Index® ETF | Schwab Fundamental U.S. Small Company Index ETF |
| Schwab U.S. Large-Cap ETF | Schwab Fundamental International Large Company Index ETF |
| Schwab U.S. Large-Cap Growth ETF | Schwab Fundamental International Small Company Index ETF |
| Schwab U.S. Large-Cap Value ETF | Schwab Fundamental Emerging Markets Large Company Index ETF |
| Schwab U.S. Mid-Cap ETF | Schwab Ariel ESG ETF |
| Schwab U.S. Small-Cap ETF | |
The funds issue and redeem shares at their net asset value per share (NAV) only in large blocks of shares (Creation Units). These transactions are usually in exchange for a basket of securities and/or 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 funds 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). A chart showing the frequency at which each fund’s daily closing market price was at a discount or premium to each fund’s NAV can be found at www.schwabassetmanagement.com.
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 funds follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification Topic 946 Financial Services — Investment Companies. The accounting policies are in conformity with accounting principles generally accepted in the United States of America (GAAP).
The funds may invest in certain mutual funds and exchange-traded funds (ETFs), which are referred to as "underlying funds". For more information about the underlying funds’ operations and policies, please refer to those funds’ semiannual and annual reports, which are filed with the U.S. Securities and Exchange Commission (SEC) and are available on the SEC’s website at www.sec.gov.
(a) Security Valuation:
Under procedures approved by the funds’ Board of Trustees (the Board), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair value. Among other things, these procedures allow the funds to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
The funds value the securities in their portfolios every business day. The funds use the following policies to value various types of securities:
• Bonds and notes: Fixed income investments are generally valued using an evaluated price at the mid-point of the bid/ask spread provided by an approved, independent pricing service (mid-price). To determine the evaluated mid-price, a pricing service may use a variety of techniques and inputs. Techniques may include, but are not limited to, spread models that
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Schwab Fixed-Income ETFs
Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
calculate an investment-specific price relative to a benchmark or yield curve models that establish a price based on yields of comparable bonds along a range of maturities. Inputs differ by valuation approach and technique, as appropriate, and examples of inputs may include, but are not limited to, interest rates, market conditions, comparable bonds, market trades, projected cash flows, credit reviews and issuer news.
• Futures contracts: Futures contracts are valued at their settlement prices as of the close of their exchanges.
• Short-term securities (60 days or less to maturity): Securities with remaining maturities of 60 days or less are generally valued at an evaluated price; however, such securities may be valued at their amortized cost if it approximates the security’s market value.
• Mutual funds: Mutual funds are valued at their respective NAVs.
• Securities for which no quoted value is available: The Board 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 it 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 Pricing Committee considers a number of factors, including unobservable market inputs, when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.
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 significant 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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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, mutual funds and futures contracts. Investments in mutual funds are valued daily at their NAVs, which are classified as Level 1 prices, without consideration to the classification level of the underlying securities held by an underlying fund.
• 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.
• 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.
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Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The levels associated with valuing the funds’ investments as of June 30, 2022 are disclosed in the Portfolio Holdings.
(b) Accounting Policies for certain Portfolio Investments (if held):
Futures Contracts: Futures contracts are instruments that represent an agreement between two parties that obligates one party to buy, and the other party to sell, specific instruments at an agreed upon price on a stipulated future date. A fund must give the broker a deposit of cash and/or securities (initial margin) whenever it enters into a futures contract. The amount of the deposit may vary from one contract to another. Subsequent payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contract and are accounted for as unrealized appreciation or depreciation until the contract is closed, at which time the gains or losses are realized. Futures contracts are traded publicly on exchanges, and their fair value may change daily.
Securities Lending: Under the trust’s Securities Lending Program, a fund (lender) may make short-term loans of its securities to another party (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 governments, or letters of credit issued by a bank. Collateral at the individual loan level is required to be maintained on a daily marked-to-market basis in an amount at least equal to the current value of the securities loaned. The lending agent provides a fund with indemnification against borrower default (the borrower fails to return the security on loan) reducing the risk of loss as a result of default. The cash collateral of securities loaned is currently invested in money market portfolios operating pursuant to Rule 2a-7 under the 1940 Act. Each fund bears the risk of loss with respect to the investment of cash collateral. The terms of the securities lending agreements allow the funds or the lending agent to terminate any loan at any given time and the securities must be returned within the earlier of the standard trade settlement period or the specified time period under the relevant securities lending agreement. Securities lending income, as disclosed in each fund’s Statement of Operations, if applicable, 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 and broker rebates which are subject to adjustments pursuant to the securities lending agreement. On loans not collateralized by cash, a fee is received from the borrower, and is allocated between a fund and the lending agent. The aggregate market value of securities loaned will not at any time exceed one-third of the total assets of a fund, including collateral received from the loan. Securities lending fees paid to the unaffiliated lending agents start at 9% of gross lending revenue, with subsequent breakpoints to a low of 5%. In this context, the gross lending revenue equals the income received from the investment of cash collateral and fees paid by borrowers less any rebates paid to the borrowers. Any expenses charged by the cash collateral fund are in addition to these fees. All remaining revenue is retained by the fund, as applicable. No portion of lending revenue is paid to or retained by the investment adviser or any of its affiliates.
As of June 30, 2022, only Schwab U.S. Aggregate Bond ETF, Schwab 1-5 Year Corporate Bond ETF and Schwab 5-10 Year Corporate Bond ETF had securities on loan, all of which were classified as corporate and government related bonds. The value of the securities on loan and the related collateral at June 30, 2022, if any, are disclosed in each fund’s Portfolio Holdings and Statement of Assets and Liabilities.
Inflation-Protected Securities: The Schwab U.S. TIPS ETF invests in U.S. Treasury inflation-protected securities (TIPS). Inflation-protected securities are fixed-income securities whose principal value is periodically adjusted to the rate of inflation. The interest rate on these instruments is generally fixed at issuance at a rate lower than typical bonds or notes. Over the life of an inflation-indexed instrument, interest will be paid based on a principal value, which is adjusted for any inflation or deflation. Any increase or decrease in the principal amount of an inflation-protected security will be included as an addition or reduction to interest income on the Statement of Operations, even though investors do not receive their principal until maturity.
TBA Commitments: The Schwab U.S. Aggregate Bond ETF may enter into “TBA” (to-be-announced) commitments to purchase or sell securities for a fixed price at a future date. Payments or proceeds of TBA commitments are not delivered until the contractual settlement date. Unsettled TBA commitments are valued at the current market value generally according to the procedures described above in the Security Valuation section. The fund’s use of TBA commitments may cause the fund to experience higher portfolio turnover and higher transaction costs.
Agency MBS and TBA Transactions: The Treasury Market Practices Group (TMPG) of the Federal Reserve Bank of New York recommended the margining of certain forward-settling Agency MBS (Mortgage-Backed Securities) transactions, including TBAs, to reduce counterparty credit risk. The TMPG recommended market participants exchange two-way variation margin on a regular basis. The Schwab U.S. Aggregate Bond ETF posts and receives variation margin with certain counterparties in instances where the unrealized gain (loss) on such transactions exceeds certain pre-determined thresholds. The variation margin, if any, is disclosed on the Statement of Assets and Liabilities.
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Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
Delayed Delivery Transactions and When-Issued Securities: During the period, certain funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. The securities purchased on a delayed delivery or when-issued basis are identified as such in the funds’ Portfolio Holdings. The funds may receive compensation for interest forgone in the purchase of a delayed delivery or when-issued security. With respect to purchase commitments, the funds identify securities as segregated in their records with a value at least equal to the amount of the commitment. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract’s terms, or if the issuer does not issue the securities due to political, economic, or other factors.
(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. Gains and losses from paydowns on mortgage and asset backed securities are recorded as adjustments to interest income.
(d) Investment Income:
Interest income is recorded as it accrues. If a fund buys a debt security at a discount (less than face value) or a premium (more than face value), it amortizes premiums and accretes discounts from the purchase settlement date up to maturity. The fund then increases (in the case of discounts) or reduces (in the case of premiums) the income it records from the security. Certain securities may be callable (meaning that the issuer has the option to pay it off before its maturity date). The fund amortizes the premium and accretes the discount on each callable security to the security’s maturity date, except when the purchase price is higher than the call price at the security’s call date (in which case the premium is amortized to the call date). Any increase or decrease in the principal amount of an inflation-protected security is included as an addition or reduction to interest income on the Statement of Operations; such adjustments may have a significant impact on a fund’s distributions. Dividends from underlying funds are recorded on the date they are effective (the ex-dividend date). Any distributions from underlying funds are recorded in accordance with the character of the distributions as designated by the underlying funds.
(e) Expenses:
Pursuant to the Amended and Restated Advisory Agreement (Advisory Agreement) between the investment adviser and the trust, the investment adviser will pay the operating expenses of each fund, excluding taxes, any brokerage expenses, and extraordinary or non-routine expenses. Taxes, any brokerage expenses and extraordinary or non-routine expenses that are specific to a fund are charged directly to the fund.
(f) U.S. Treasury, Agency Debt & Agency MBS Charges:
Due to market conditions or other reasons, delivery of U.S. Treasury securities, agency debt and agency MBS may not occur on a timely basis. In these instances, a fund may fail to receive a security purchased causing the fund to be unable to deliver a security sold. The TMPG recommends voluntary fail charges when securities are not delivered as agreed by the parties. These fail charges are included in net realized gains (losses) on each fund’s Statement of Operations, if any.
(g) Distributions to Shareholders:
The funds make distributions from net investment income, if any, monthly and from net realized capital gains, if any, once a year. To receive a distribution, you must be a registered shareholder on the record date. Distributions are paid to shareholders on the payable date.
(h) Accounting Estimates:
The accounting policies described in this report conform to GAAP. 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.
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Financial Notes, unaudited (continued)
2. Significant Accounting Policies (continued):
(i) Federal Income Taxes:
The funds intend to meet federal income and excise tax requirements for regulated investment companies under subchapter M of the Internal Revenue Code, as amended. Accordingly, the funds distribute substantially all of their net investment income and net realized 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.
(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 attributable to these arrangements to be remote.
3. Risk Factors:
Investing in the funds may involve certain risks, as discussed in the funds’ prospectus, including, but not limited to, those described below. Any of these risks could cause an investor to lose money.
Market Risk. Financial markets rise and fall in response to a variety of factors, sometimes rapidly and unpredictably. Markets may be impacted by economic, political, regulatory and other conditions, including economic sanctions and other government actions. In addition, the occurrence of global events, such as war, terrorism, environmental disasters, natural disasters and epidemics may also negatively affect the financial markets. As with any investment whose performance is tied to these markets, the value of an investment in a fund will fluctuate, which means that an investor could lose money over short or long periods.
Investment Style Risk. The funds are index funds. Therefore, the funds follow the securities included in an index during upturns as well as downturns. Because of their indexing strategy, the funds do not take steps to reduce market exposure or to lessen the effects of a declining market. In addition, because of each fund’s expenses, each fund’s performance may be below that of its respective index. Errors relating to an index may occur from time to time and may not be identified by an index provider for a period of time. In addition, market disruptions could cause delays in the index’s rebalancing schedule. Such errors and/or market disruptions may result in losses for a fund.
Interest Rate Risk. Interest rates rise and fall over time. As with any investment whose yield reflects current interest rates, a fund’s yield will change over time. During periods when interest rates are low, a fund’s yield (and total return) also may be low. Changes in interest rates also may affect a fund’s share price: a rise in interest rates generally causes a fund’s share price to fall. The longer a fund’s portfolio duration, the more sensitive to interest rate movements its share price is likely to be. Also, a change in a central bank’s monetary policy or economic conditions, among other things, may result in a change in interest rates, which could have sudden and unpredictable effects on the markets and significantly impact the value of fixed-income securities in which a fund invests. A sudden or unpredictable rise in interest rates may cause volatility and the value of fixed-income securities to decline.
Credit Risk. A decline in the credit quality of an issuer, guarantor or liquidity provider of a portfolio investment or a counterparty could cause the funds to lose money or underperform. The funds could lose money if, due to a decline in credit quality, the issuer, guarantor or liquidity provider of a portfolio investment or a counterparty fails to make, or is perceived as being unable or unwilling to make, timely principal or interest payments or otherwise honor its obligations.
Inflation-Protected Security Risk. The value of inflation-protected securities, including TIPS, generally will fluctuate in response to changes in “real” interest rates, generally decreasing when real interest rates rise and increasing when real interest rates fall. Real interest rates represent nominal (or stated) interest rates reduced by the expected impact of inflation. In addition, interest payments on inflation-indexed securities will generally vary up or down along with the rate of inflation.
Sampling Index Tracking Risk. To the extent a fund uses sampling techniques, the 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 investment adviser’s investment management strategy, the implementation of which is subject to a number of constraints, may not produce the intended results. If 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 index.
Tracking Error Risk. As index funds, the funds seek to track the performance of an index, although they may not be successful in doing so. The divergence between the performance of a fund and the index, positive or negative, is called “tracking error.” Tracking error can be caused by many factors and it may be significant.
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Financial Notes, unaudited (continued)
3. Risk Factors (continued):
Liquidity Risk. A fund may be unable to sell certain securities, such as illiquid securities, readily at a favorable time or price, or the fund may have to sell them at a loss.
Securities Lending Risk. Securities lending involves the risk of loss of rights in, or delay in recovery of, the loaned securities if the borrower fails to return the security loaned or becomes insolvent.
Market Trading Risk. 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.
Portfolio Turnover Risk. With respect to the Schwab U.S. Aggregate Bond ETF, the fund may engage in frequent trading of its portfolio securities in connection with its tracking of the index, primarily due to the fund rolling over its positions in TBAs as it tracks the portion of the index represented by mortgage-backed securities. A higher portfolio turnover rate may result in increased transaction costs, which may lower the fund’s performance. A higher portfolio turnover rate can also result in an increase in taxable capital gains distributions to the fund’s shareholders.
Prepayment and Extension Risk. With respect to the Schwab U.S. Aggregate Bond ETF, certain of the fund’s fixed-income securities are subject to the risk that the securities may be paid off earlier or later than expected, especially during periods of falling or rising interest rates, respectively. Prepayments of obligations could cause the fund to forgo future interest income on the portion of the security’s principal repaid early and force the fund to reinvest that money at the lower prevailing interest rates. Extensions of obligations could cause the fund to exhibit additional volatility and hold securities paying lower-than-market rates of interest. Either case could hurt the fund’s performance.
Non-U.S. Issuer Risk. Certain funds may invest in U.S.-registered, dollar-denominated bonds of non-U.S. corporations, governments, agencies and supra-national entities. A fund’s investments in bonds of non-U.S. 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; the imposition of economic sanctions or other government restrictions; 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 bonds issued by non-U.S. corporations and entities in emerging markets.
Derivatives Risk. Certain funds may invest in derivatives instruments. The principal types of derivatives used by such funds 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, credit risk and liquidity risk, are discussed elsewhere in this section. A fund’s use of derivatives is also subject to lack of availability risk, valuation risk, correlation risk and tax risk. 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 gains. A fund’s use of derivatives could reduce the fund’s performance, increase the fund’s volatility, and cause the fund to lose more than the initial amount invested. Furthermore, the use of derivatives subject to regulation by the Commodity Futures Trading Commission (CFTC) could cause a fund to become a commodity pool, which would require the fund to comply with certain CFTC rules.
Mortgage-Backed and Mortgage Pass-Through Securities Risk. Mortgage-backed securities tend to increase in value less than other debt securities when interest rates decline, but are subject to similar or greater risk of decline in market value during periods of rising interest rates. With respect to the Schwab U.S. Aggregate Bond ETF, certain of the mortgage-backed securities in which the fund may invest are issued or guaranteed by agencies or instrumentalities of the U.S. government but are not backed by the full faith and credit of the U.S. government. There can be no assurance that the U.S. government would provide financial support to its agencies or instrumentalities where it was not obligated to do so which can cause the fund to lose money or underperform. The risks of investing in mortgage-backed securities include, among others, interest rate risk, credit risk, prepayment risk and extension risk. Transactions in mortgage pass-through securities often occur through TBA transactions. The fund could lose money or underperform if a TBA counterparty defaults or goes bankrupt.
Concentration Risk. 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, the fund may be adversely affected by the performance of those securities, may be subject to increased price volatility and may be more vulnerable to adverse economic, market, political or regulatory occurrences affecting that market, industry, group of industries, sector or asset class.
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Financial Notes, unaudited (continued)
3. Risk Factors (continued):
Shares of the Fund May Trade at Prices Other Than NAV. 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 the fund’s NAV, there may be times when the market price and the NAV vary significantly. An investor may pay more than NAV when buying shares of a fund in the secondary market, and an investor may receive less than NAV when selling those shares in the secondary market. The market price of fund shares may deviate, sometimes significantly, from NAV during periods of market volatility or market disruption.
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:
Investment Adviser
Charles Schwab Investment Management, Inc., dba Schwab Asset Management, a wholly owned subsidiary of The Charles Schwab Corporation, serves as each fund’s investment adviser pursuant to the Advisory Agreement between the investment adviser and the trust.
For its advisory services to the funds, the investment adviser is entitled to receive an annual management fee, payable monthly, based on a percentage of each fund’s average daily net assets as follows:
| SCHWAB U.S. TIPS ETF | SCHWAB SHORT-TERM U.S. TREASURY ETF | SCHWAB INTERMEDIATE-TERM U.S. TREASURY ETF | SCHWAB LONG-TERM U.S. TREASURY ETF | SCHWAB U.S. AGGREGATE BOND ETF | SCHWAB 1-5 YEAR CORPORATE BOND ETF | SCHWAB 5-10 YEAR CORPORATE BOND ETF |
| 0.05%* | 0.04%* | 0.04%* | 0.04%* | 0.04%* | 0.04%* | 0.04%* |
* Subsequent to the reporting period ended June 30, 2022, and effective July 1, 2022, the management fees of the Schwab U.S. TIPS ETF, Schwab Short-Term U.S. Treasury ETF, Schwab Intermediate-Term U.S. Treasury ETF, Schwab Long-Term U.S. Treasury ETF, Schwab U.S. Aggregate Bond ETF, Schwab 1-5 Year Corporate Bond ETF and Schwab 5-10 Year Corporate Bond ETF have been reduced to 0.04%, 0.03%, 0.03%, 0.03%, 0.03%, 0.03% and 0.03%, respectively.
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Financial Notes, unaudited (continued)
4. Affiliates and Affiliated Transactions (continued):
Investment from Affiliates
Certain funds in the Fund Complex (for definition refer to the Trustees and Officers section) may own shares of other funds in the Fund Complex. The table below reflects the percentages of shares of each fund in this report that are owned by other funds in the Fund Complex as of June 30, 2022, as applicable:
| UNDERLYING FUNDS | ||||
| SCHWAB U.S. TIPS ETF | SCHWAB SHORT-TERM U.S. TREASURY ETF | SCHWAB U.S. AGGREGATE BOND ETF | SCHWAB 5-10 YEAR CORPORATE BOND ETF | |
| Schwab Monthly Income Fund - Enhanced Payout | —% | —% | —% | 0.6% |
| Schwab Monthly Income Fund - Maximum Payout | —% | —% | —% | 0.6% |
| Schwab Monthly Income Fund - Moderate Payout | —% | —% | —% | 0.3% |
| Schwab Target 2010 Index Fund | 0.0%* | 0.0%* | 0.3% | —% |
| Schwab Target 2015 Index Fund | 0.0%* | 0.1% | 0.3% | —% |
| Schwab Target 2020 Index Fund | 0.1% | 0.2% | 1.4% | —% |
| Schwab Target 2025 Index Fund | 0.1% | 0.3% | 2.2% | —% |
| Schwab Target 2030 Index Fund | 0.0%* | 0.2% | 2.8% | —% |
| Schwab Target 2035 Index Fund | —% | 0.1% | 1.3% | —% |
| Schwab Target 2040 Index Fund | —% | 0.1% | 1.2% | —% |
| Schwab Target 2045 Index Fund | —% | 0.0%* | 0.5% | —% |
| Schwab Target 2050 Index Fund | —% | —% | 0.4% | —% |
| Schwab Target 2055 Index Fund | —% | —% | 0.2% | —% |
| Schwab Target 2060 Index Fund | —% | —% | 0.1% | —% |
| Schwab Target 2065 Index Fund | —% | —% | 0.0%* | —% |
| Schwab VIT Balanced Portfolio | 0.0%* | 0.1% | 0.4% | —% |
| Schwab VIT Balanced with Growth Portfolio | 0.0%* | 0.1% | 0.5% | —% |
| Schwab VIT Growth Portfolio | —% | —% | 0.3% | —% |
| * | Less than 0.05% |
Interfund Borrowing and Lending
Pursuant to an exemptive order issued by the SEC, the funds may enter into interfund borrowing and lending transactions with other funds in the Fund Complex. All loans are for temporary or emergency purposes and the interest rate to be charged will be the average of the overnight repurchase agreement rate and the short-term bank loan rate. All loans are subject to numerous conditions designed to ensure fair and equitable treatment of all participating funds. The interfund lending facility is subject to the oversight and periodic review of the Board. The funds had no interfund borrowing or lending activity during the period.
5. Other Service Providers:
SEI Investments Distribution Co. 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. The transfer agent is also responsible for the order-taking function for 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 by the funds. The funds’ accountant maintains all books and records related to the funds’ transactions.
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Financial Notes, unaudited (continued)
| 6. Board of Trustees: |
The Board may include people who are officers and/or directors of the investment adviser or its affiliates. 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 does not pay any interested or non-interested trustees (independent trustees). The independent trustees are paid by the investment adviser. For information regarding the trustees, please refer to the Trustees and Officers table at the end of this report.
7. Borrowing from Banks:
During the period, the funds were participants with other funds in the Fund Complex in a joint, syndicated, committed $850 million line of credit (the Syndicated Credit Facility), maturing on September 29, 2022. Under the terms of the Syndicated Credit Facility, in addition to the investment adviser paying the interest charged on any borrowings by a fund, the investment adviser paid a commitment fee of 0.15% per annum on the funds’ proportionate share of the unused portion of the Syndicated Credit Facility.
During the period, the funds were participants with other funds in the Fund Complex in a joint, unsecured, uncommitted $400 million line of credit (the Uncommitted Credit Facility), with State Street, maturing on September 29, 2022 . Under the terms of the Uncommitted Credit Facility, the investment adviser pays interest on the amount a fund borrows. There were no borrowings from either line of credit during the period.
The funds also have access to custodian overdraft facilities. A fund may have utilized the overdraft facility and incurred an interest expense, which is paid by the investment adviser. The interest expense is determined based on a negotiated rate above the current Federal Funds Rate.
8. Derivatives:
Certain funds entered into U.S. Treasury futures contracts during the report period. The funds invested in futures contracts to help manage the effects of interest rate changes. The value and variation margin for futures contracts held at June 30, 2022 are presented in the Portfolio Holdings and Statement of Assets and Liabilities, respectively. The net realized gains (losses) and net change in unrealized appreciation (depreciation) on futures contracts are presented in the Statement of Operations. Refer to financial note 2(b) for the funds’ accounting policies with respect to futures contracts and financial note 3 for disclosures concerning the risks of investing in futures contracts. During the period ended June 30, 2022, the month-end average notional amounts of futures contracts held by the funds and the month-end average number of contracts held were as follows:
| NOTIONAL AMOUNTS | NUMBER OF CONTRACTS | |
| Schwab U.S. TIPS ETF | $— | — |
| Schwab Short-Term U.S. Treasury ETF | — | — |
| Schwab Intermediate-Term U.S. Treasury ETF | — | — |
| Schwab Long-Term U.S. Treasury ETF | — | — |
| Schwab U.S. Aggregate Bond ETF | — | — |
| Schwab 1-5 Year Corporate Bond ETF | 982,861 | 8 |
| Schwab 5-10 Year Corporate Bond ETF | 506,283 | 4 |
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Financial Notes, unaudited (continued)
| 9. Purchases and Sales/Maturities of Investment Securities: |
For the period ended June 30, 2022, purchases and sales/maturities of securities (excluding in-kind transactions and short-term obligations) were as follows:
| PURCHASES OF LONG-TERM U.S. GOVERNMENT SECURITIES* | PURCHASES OF OTHER LONG-TERM SECURITIES | TOTAL PURCHASES OF LONG-TERM SECURITIES | |
| Schwab U.S. TIPS ETF | $1,477,981,267 | $— | $1,477,981,267 |
| Schwab Short-Term U.S. Treasury ETF | 3,572,994,243 | — | 3,572,994,243 |
| Schwab Intermediate-Term U.S. Treasury ETF | 1,767,239,267 | — | 1,767,239,267 |
| Schwab Long-Term U.S. Treasury ETF | 24,590,912 | — | 24,590,912 |
| Schwab U.S. Aggregate Bond ETF | 1,590,197,807 | 200,623,398 | 1,790,821,205 |
| Schwab 1-5 Year Corporate Bond ETF | — | 40,249,615 | 40,249,615 |
| Schwab 5-10 Year Corporate Bond ETF | — | 24,879,474 | 24,879,474 |
| SALES/MATURITIES OF LONG-TERM U.S. GOVERNMENT SECURITIES* | SALES/MATURITIES OF OTHER LONG-TERM SECURITIES | TOTAL SALES/MATURITIES OF LONG-TERM SECURITIES | |
| Schwab U.S. TIPS ETF | $1,888,616,479 | $— | $1,888,616,479 |
| Schwab Short-Term U.S. Treasury ETF | 3,211,579,938 | — | 3,211,579,938 |
| Schwab Intermediate-Term U.S. Treasury ETF | 1,416,410,660 | — | 1,416,410,660 |
| Schwab Long-Term U.S. Treasury ETF | 20,309,631 | — | 20,309,631 |
| Schwab U.S. Aggregate Bond ETF | 1,891,918,496 | 204,091,896 | 2,096,010,392 |
| Schwab 1-5 Year Corporate Bond ETF | — | 32,971,970 | 32,971,970 |
| Schwab 5-10 Year Corporate Bond ETF | — | 17,524,669 | 17,524,669 |
| * | Includes securities guaranteed by U.S. Government Agencies. |
10. In-Kind Transactions:
The consideration for the purchase of Creation Units of a fund often consists of the in-kind deposit of a designated portfolio of fixed-income 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 are subject to a standard creation transaction fee and a standard redemption transaction fee paid to the custodian to offset transfer and other transaction costs associated with the issuance and redemption of Creation Units. Purchasers and redeemers of Creation Units for cash are subject to an additional variable charge paid to the fund that will offset the transaction costs to the fund of buying or selling portfolio securities. In addition, purchasers and redeemers of shares in Creation Units are responsible for payment of the costs of transferring securities to or out of the fund. From time to time, the investment adviser may cover the cost of any transaction fees when believed to be in the best interests of the fund.
The in-kind transactions for the period ended June 30, 2022, were as follows:
| IN-KIND PURCHASES OF SECURITIES | IN-KIND SALES OF SECURITIES | |
| Schwab U.S. TIPS ETF | $5,403,302,420 | $8,735,119,413 |
| Schwab Short-Term U.S. Treasury ETF | 1,518,808,851 | 1,690,815,300 |
| Schwab Intermediate-Term U.S. Treasury ETF | 4,837,833,498 | 1,456,461,278 |
| Schwab Long-Term U.S. Treasury ETF | 36,751,518 | 33,849,208 |
| Schwab U.S. Aggregate Bond ETF | 69,979,881 | 271,981,504 |
| Schwab 1-5 Year Corporate Bond ETF | 44,314,406 | 257,294,046 |
| Schwab 5-10 Year Corporate Bond ETF | 136,649,790 | 66,359,114 |
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Financial Notes, unaudited (continued)
10. In-Kind Transactions (continued):
For the period ended June 30, 2022, the funds realized net capital gains or losses resulting from in-kind redemptions of 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 capital received from investors 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 June 30, 2022 are disclosed in the funds’ Statements of Operations, if any.
11. Federal Income Taxes:
As of June 30, 2022, the tax basis cost of the funds’ investments and gross unrealized appreciation and depreciation were as follows:
| TAX COST | GROSS UNREALIZED APPRECIATION | GROSS UNREALIZED DEPRECIATION | NET UNREALIZED APPRECIATION (DEPRECIATION) | |
| Schwab U.S. TIPS ETF | $17,362,794,611 | $- | ($1,630,934,721) | ($1,630,934,721) |
| Schwab Short-Term U.S. Treasury ETF | 9,077,555,601 | - | (273,586,752) | (273,586,752) |
| Schwab Intermediate-Term U.S. Treasury ETF | 7,412,658,010 | - | (364,224,520) | (364,224,520) |
| Schwab Long-Term U.S. Treasury ETF | 107,170,098 | - | (21,463,675) | (21,463,675) |
| Schwab U.S. Aggregate Bond ETF | 8,375,260,034 | - | (755,969,754) | (755,969,754) |
| Schwab 1-5 Year Corporate Bond ETF | 388,702,612 | 37,438 | (26,012,308) | (25,974,870) |
| Schwab 5-10 Year Corporate Bond ETF | 447,205,563 | 38,092 | (53,058,352) | (53,020,260) |
Capital loss carryforwards have no expiration and may be used to offset future realized capital gains for federal income tax purposes. As of December 31, 2021, the funds had capital loss carryforwards as follows:
| Schwab U.S. TIPS ETF | $42,334,833 |
| Schwab Short-Term U.S. Treasury ETF | 6,843,877 |
| Schwab Intermediate-Term U.S. Treasury ETF | 25,108,713 |
| Schwab Long-Term U.S. Treasury ETF | 1,654,682 |
| Schwab U.S. Aggregate Bond ETF | 7,946,563 |
| Schwab 1-5 Year Corporate Bond ETF | 119,472 |
| Schwab 5-10 Year Corporate Bond ETF | 700,704 |
The tax-basis components of distributions and components of distributable earnings on a tax basis are finalized at fiscal year-end; accordingly, tax basis balances have not been determined as of June 30, 2022. The tax-basis components of distributions paid during the year ended December 31, 2021 were as follows:
| PRIOR FISCAL YEAR END DISTRIBUTIONS | |
| ORDINARY INCOME | |
| Schwab U.S. TIPS ETF | $852,013,180 |
| Schwab Short-Term U.S. Treasury ETF | 34,862,540 |
| Schwab Intermediate-Term U.S. Treasury ETF | 36,438,300 |
| Schwab Long-Term U.S. Treasury ETF | 1,504,385 |
| Schwab U.S. Aggregate Bond ETF | 191,909,550 |
| Schwab 1-5 Year Corporate Bond ETF | 5,031,370 |
| Schwab 5-10 Year Corporate Bond ETF | 6,826,280 |
Distributions paid to shareholders are based on net investment income and net realized gains determined on a tax basis, which may differ from net investment income and net realized gains for financial reporting purposes. These differences reflect the differing character of certain income items and net realized gains and losses for financial statement and tax purposes, and may result in reclassification among certain capital accounts on the financial statements. The funds may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.
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Financial Notes, unaudited (continued)
11. Federal Income Taxes (continued):
As of December 31, 2021, 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 fiscal year ended December 31, 2021, the funds did not incur any interest or penalties.
12. 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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Shareholder Vote Results (Unaudited)
A Special Meeting of Shareholders of Schwab Strategic Trust (the “Trust”) was held on June 1, 2022, for the purpose of seeking shareholder approval to elect the following individuals as trustees of the Trust: Walter W. Bettinger II, Richard A. Wurster, Michael J. Beer, Robert W. Burns, Nancy F. Heller, David L. Mahoney, Jane P. Moncreiff, Kiran M. Patel, Kimberly S. Patmore, and J. Derek Penn. The number of votes necessary to conduct the Special Meeting and approve the proposal was obtained. The results of the shareholder vote are listed below:
| Proposal – To elect each of the following individuals as trustees of the Trust: | For | Withheld |
| Walter W. Bettinger II | 1,707,011,744.958 | 53,766,812.577 |
| Richard A. Wurster | 1,741,778,933.018 | 18,999,624.517 |
| Michael J. Beer | 1,741,911,579.511 | 18,866,978.024 |
| Robert W. Burns | 1,742,002,589.714 | 18,775,967.821 |
| Nancy F. Heller | 1,743,265,288.229 | 17,513,269.306 |
| David L. Mahoney | 1,488,067,807.852 | 272,710,749.683 |
| Jane P. Moncreiff | 1,743,396,670.121 | 17,381,887.414 |
| Kiran M. Patel | 1,738,761,227.827 | 22,017,329.708 |
| Kimberly S. Patmore | 1,740,654,694.664 | 20,123,862.871 |
| J. Derek Penn | 1,739,737,491.136 | 21,041,066.399 |
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Investment Advisory Agreement Approval
The Investment Company Act of 1940, as amended (the 1940 Act), requires that 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.
The Board of Trustees (the Board or the Trustees, as appropriate) calls and holds one or more meetings each year that are dedicated, in whole or in part, to considering whether to renew the investment advisory agreement (the Agreement) between Schwab Strategic Trust (the Trust) and Charles Schwab Investment Management, Inc. (dba Schwab Asset Management) (the investment adviser) with respect to the existing funds in the Trust, including Schwab U.S. TIPS ETF, Schwab Short-Term U.S. Treasury ETF, Schwab Intermediate-Term U.S. Treasury ETF, Schwab U.S. Aggregate Bond ETF, Schwab 1-5 Year Corporate Bond ETF, Schwab 5-10 Year Corporate Bond ETF, and Schwab Long-Term U.S. Treasury ETF (the Funds), and to review certain other agreements pursuant to which the investment adviser provides investment advisory services to certain other registered investment companies. In preparation for the meeting(s), the Board requests and reviews a wide variety of materials provided by the investment adviser, including information about the investment adviser’s affiliates, personnel, business goals and priorities, profitability, third-party oversight, corporate structure and operations. As part of the renewal process, the Independent Trustees’ legal counsel, on behalf of the Independent Trustees, sends an information request letter to the investment adviser seeking certain relevant information. The responses by the investment adviser are provided to the Trustees in the Board materials for their review prior to their meeting, and the Trustees are provided with the opportunity to request any additional materials. The Board also receives data provided by an independent provider of investment company data. This information is in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to the Funds’ operations and performance, legal and compliance matters, risk management, portfolio turnover, and sales and marketing activity. In considering the renewal, the Independent Trustees receive advice from Independent Trustees’ legal counsel, including a memorandum regarding the responsibilities of trustees for the approval of investment advisory agreements. In addition, the Independent Trustees participate in question and
answer sessions with representatives of the investment adviser and meet in executive session outside the presence of Fund management.
The Board, including a majority of the Independent Trustees, considered information specifically relating to the continuance of the Agreement with respect to the Funds at meetings held on May 16, 2022 and June 8, 2022, and approved the renewal of the Agreement with respect to the Funds for an additional one-year term at the meeting on June 8, 2022 called for the purpose of voting on such approval.
The Board’s approval of the continuance of the Agreement with respect to the Funds was based on consideration and evaluation of a variety of specific factors discussed at these meetings and at prior meetings, including:
| 1. | the nature, extent and quality of the services provided to each Fund under the Agreement, including the resources of the investment adviser and its affiliates dedicated to the Funds; |
| 2. | each Fund’s investment performance and how it compared to that of certain other comparable exchange-traded funds and benchmark data; |
| 3. | each Fund’s expenses and how those expenses compared to those of certain other similar exchange-traded funds; |
| 4. | the profitability of the investment adviser and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to the investment adviser and its affiliates; and |
| 5. | the extent to which economies of scale would be realized as each Fund grows and whether fee levels in the Agreement 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 provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, the investment adviser’s experience, track record, compliance program, resources dedicated to hiring and retaining skilled personnel and specialized talent, and information security resources. The Trustees also considered information provided by the investment adviser relating to services and support provided with respect to the Funds’ portfolio management team, portfolio strategy, and internal investment guidelines, as well as trading infrastructure, liquidity management, product design and analysis, shareholder communications, securities valuation, fund accounting and custody, and vendor and risk oversight. The Trustees also considered investments the investment adviser has made in its infrastructure, including
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modernizing the investment adviser’s technology and use of data, increasing expertise in key areas (including portfolio management and trade operations), and improving business continuity, cybersecurity, due diligence, risk management processes, and information security programs, which are designed to provide enhanced services to the Funds and their shareholders. The Trustees considered Schwab’s overall financial condition and reputation as a full service brokerage firm. Following such evaluation, the Board concluded, within the context of its full deliberations, that the nature, extent and quality of services provided by the investment adviser to the Funds and the resources of the investment adviser and its affiliates dedicated to the Funds supported renewal of the Agreement with respect to the Funds.
Fund Performance. The Board considered each Fund’s performance in determining whether to renew the Agreement with respect to such Fund. Specifically, the Trustees considered each Fund’s performance relative to a peer category of other exchange-traded funds and applicable indices/benchmarks, in light of portfolio yield and market trends, as well as in consideration of each Fund’s investment style and strategy attributes and disclosures. As part of this review, the Trustees considered the composition of the peer category, selection criteria and the reputation of the independent provider of investment company data who prepared the peer category analysis. In evaluating the performance of each Fund, the Trustees considered the risk profile for such Fund and such Fund’s demonstrated performance in tracking its benchmark index. The Trustees further considered the level of Fund performance in the context of their review of Fund expenses and the investment adviser’s profitability discussed below and also noted that the Board and a designated committee of the Board review performance throughout the year. Although each of Schwab Intermediate-Term U.S. Treasury ETF and Schwab U.S. Aggregate Bond ETF had performance that ranked in the fourth quartile of a relevant peer group for more than one performance period considered, the Board concluded that other factors relevant to performance supported renewal of the Agreement with respect to these Funds including that the underperformance was attributable, to a significant extent, to investment decisions by the investment adviser that were reasonable and consistent with the Funds’ investment objective and policies and that the investment adviser had taken steps designed to help improve performance. Following such evaluation, the Board concluded, within the context of its full deliberations that the performance of each Fund supported renewal of the Agreement with respect to such Fund.
Fund Expenses. With respect to each Fund’s expenses, the Trustees considered the rate of compensation called for by the Agreement and each Fund’s operating expense ratio, in each case, in comparison to those of other similar exchange-traded funds, such peer groups and comparisons having been selected and calculated by an independent provider of investment company data. The investment adviser reported to
the Board, and the Board took into account, the risk assumed by the investment adviser in the development of the Funds and provision of services as well as the competitive marketplace for financial products. The Trustees also considered fees charged by the investment adviser to mutual funds that it manages. The Board evaluated the Funds’ unitary fee through review of comparative information with respect to fees paid by other similar exchange-traded funds tracking fixed income indexes. Following such evaluation, the Board concluded, within the context of its full deliberations, that the expenses of each Fund are reasonable and supported renewal of the Agreement with respect to such Fund.
Profitability. The Trustees considered the compensation flowing to the investment adviser and its affiliates, directly or indirectly, and reviewed profitability on a pre-tax basis, without regard to distribution expenses. In this connection, the Trustees reviewed management’s profitability analyses. The Trustees also reviewed profitability of the investment adviser relating to the Schwab fund complex as a whole, noting the benefits to Fund shareholders of being part of the Schwab fund complex, including the allocations of certain fixed costs across the Funds and other funds in the complex. The Trustees also considered any other benefits derived by the investment adviser from its relationship with the Funds, such as whether, by virtue of its management of the Funds, the investment adviser obtains investment information or other research resources that aid it in providing advisory services to other clients. The Trustees considered whether the compensation and profitability with respect to the Funds under the Agreement and other service agreements were reasonable and justified in light of the quality of all services rendered to the Funds by the investment adviser and its affiliates. The Trustees noted that the investment adviser continues to invest substantial sums in its business in order to provide enhanced research capabilities, services and systems to benefit the Funds. Based on this evaluation, the Board concluded, within the context of its full deliberations, that the profitability of the investment adviser is reasonable and supported renewal of the Agreement with respect to such Fund.
Economies of Scale. Although the Trustees recognized the difficulty of determining economies of scale with precision, the Trustees considered the potential existence of any economies of scale by way of the relatively low advisory fee and unitary fee structure of the Funds and whether those are passed along to a Fund’s shareholders through (i) the enhancement of services provided to the Funds in return for fees paid, including through investments by the investment adviser in its infrastructure, including modernizing the investment adviser’s technology and use of data, increasing expertise and capabilities in key areas (including portfolio and trade operations), and improving business continuity, cybersecurity, due diligence and information security programs, which are designed to provide enhanced services to the Funds and their shareholders; and (ii) pricing a fund to scale and keeping overall expenses down as the fund grows. The Trustees acknowledged that the
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investment adviser has shared any economies of scale with the Funds by investing in the investment adviser’s infrastructure, as discussed above, over time and that the investment adviser’s internal costs of providing investment management, technology, administrative, legal and compliance services to the Funds continue to increase as a result of regulatory or other developments. Based on this evaluation, the Board concluded, within the context of its full deliberations, that each Fund obtains reasonable benefits from economies of scale.
In the course of their deliberations, the Trustees may have accorded different weights to various factors and 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, approved the continuation of the Agreement with respect to the Funds and concluded that the compensation under the Agreement with respect to the Funds is fair and reasonable in light of the services provided and the related expenses borne by the investment adviser and its affiliates and such other matters as the Trustees 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 of 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 and Laudus Trust. The Fund Complex includes 104 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 1-877-824-5615.
| Independent Trustees | |||
| Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
| Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor. | 104 | None |
| Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. | 104 | None |
| David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 104 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – 2021), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
| Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 104 | None |
| Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. | 104 | Director (2008 – present), KLA-Tencor Corporation |
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| Independent Trustees (continued) | |||
| Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
| Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 104 | None |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 104 | None |
| Interested Trustees | |||
| Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
| Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Co-Chairman of the Board (July 2022 – present), Director and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present), Chief Executive Officer (Aug. 2017 – present), and President (Aug. 2017 – Nov. 2021), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – Oct. 2021), Charles Schwab Investment Management, Inc. | 104 | Director (2008 – present), The Charles Schwab Corporation |
| Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Managing Director (Jan. 2022 – present), Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (Feb. 2018 – Apr. 2022), The Charles Schwab Corporation; Managing Director (May 2022 – present) and Senior Executive Vice President (July 2015 – May 2022), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Senior Executive Vice President (Feb. 2016 – present) and Chief Financial Officer (Feb. 2016 – Aug. 2017), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 104 | None |
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| 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 |
| Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2021 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – Mar. 2022) and Chief Operating Officer (Jan. 2021 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Mar. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Managing Director (May 2022 – present), Senior Vice President (Apr. 2019 – May 2022) and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), Charles Schwab & Co., Inc. |
| Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
| Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present), Chief Investment Officer (Apr. 2011 – present) and Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
| Brett Wander 1961 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
| William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
| Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Managing Director (May 2022 – present) and Vice President (July 2005 – May 2022), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), Schwab ETFs. |
| 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 retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
| 2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
| 3 | The President, Treasurer and Secretary/Clerk 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
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-backed securities Bond or other debt securities that represent ownership in a pool of assets such as credit card debt.
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.
bid The highest price at which someone is willing to buy a security.
Bloomberg US 1–5 Year Corporate Bond Index An index that measures the performance of U.S. investment grade, taxable corporate bonds with maturities greater than or equal to one year and less than five years that have $300 million or more of outstanding face value. The securities in the index must be denominated in U.S. dollars and must be fixed-rate. The index includes securities publicly issued by U.S. and non-U.S. industrial, utility and financial issuers. The index excludes certain types of securities, including contingent capital securities, inflation-linked bonds, floating-rate issues, taxable and tax-exempt municipal securities, structured notes and pass-through certificates. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month.
Bloomberg US 5–10 Year Corporate Bond Index An index that measures the performance of U.S. investment grade, taxable corporate bonds with maturities greater than or equal to five years and less than ten years that have $300 million or more of outstanding face value. The securities in the index must be denominated in U.S. dollars and must be fixed-rate. The index includes securities publicly issued by U.S. and non-U.S. industrial, utility and financial issuers. The index excludes certain types of securities, including contingent capital securities, inflation-linked bonds, floating-rate bonds, taxable and tax-exempt municipal securities, structured notes and pass-through certificates. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month.
Bloomberg US Aggregate Bond Index An index that is a broad-based benchmark measuring the performance of the U.S. investment grade, taxable bond market, including U.S. Treasuries, government-related and corporate bonds, mortgage pass-through securities, commercial mortgage-backed securities, and asset-backed securities that are publicly available for sale in the United States. To be eligible for inclusion in the index, securities must be fixed rate, non-convertible, U.S. dollar-denominated with at least $300 million or more of outstanding face value and have one or more years remaining to maturity. The index excludes certain types of securities, including tax-exempt state and local government series bonds, structured notes embedded with swaps or other special features, private placements, floating rate securities, inflation-linked bonds and Eurobonds. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month.
Bloomberg US Long Treasury Index An index that includes all publicly issued, U.S. Treasury securities that have a remaining maturity of ten or more years, are rated investment grade, and have $300 million or more of outstanding face value. The securities in the index must be denominated in U.S. dollars and must be fixed-rate and non-convertible. The index excludes U.S. Treasury stripped securities. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month.
Bloomberg US Treasury 1–3 Year Index An index which includes all publicly-issued U.S. Treasury securities that have a remaining maturity of greater than or equal to one year and less than three years, are rated investment grade, and have $300 million or more of outstanding face value. The securities in the index must be denominated in U.S. dollars and must be fixed-rate and non-convertible. The index excludes state and local government series bonds and coupon issues that have been stripped from bonds. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month.
Bloomberg US Treasury 3–10 Year Index An index which includes all publicly-issued U.S. Treasury securities that have a remaining maturity of greater than or equal to three years and less than ten years, are rated investment grade, and have $300 million or more of outstanding face value. The securities in the index must be denominated in U.S. dollars and must be fixed-rate and non-convertible. The index excludes state and local government series bonds and coupon issues that have been stripped from bonds. The index is market capitalization weighted and the securities in the index are updated on the last business day of each month.
Bloomberg US Treasury Inflation-Linked Bond Index (Series-L) An index which includes all publicly-issued U.S. Treasury Inflation-Protected Securities (TIPS) that have at least one year remaining to maturity, are rated investment grade and have $500 million or more of outstanding face value. The TIPS in the index must be denominated in U.S. dollars and must be fixed-rate and non-convertible. The index is market capitalization weighted and the TIPS in the index are updated on the last business day of each month. TIPS are publicly issued, dollar denominated U.S. Government securities issued by the U.S. Treasury that have principal and interest payments linked to an official inflation measure (as measured by the Consumer Price Index, or CPI) and their payments are supported by the full faith and credit of the United States.
bond A security representing a loan from the investor to the issuer. A bond typically pays interest at a fixed rate (the “coupon rate”) until a specified date (the “maturity date”), at which time the issuer returns the money borrowed (“principal” or “face value”) to the bondholder. Because of their structure, bonds are sometimes called “fixed income securities” or “debt securities.”
call An early repayment of a bond’s principal by the issuer, usually done because the issuer is able to refinance its bond debt at a lower rate.
call protection A term used in reference to a bond that cannot be called by the issuer before maturity, or at least for many years from the present date. A bond that offers call protection can more reliably be expected to provide a given yield over a given number of years than a bond that could be called (assuming both bonds are of the same credit quality).
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.
coupon, coupon rate The annual rate of interest paid until maturity by the issuer of a debt security.
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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.
credit quality The capacity of an issuer to make its interest and principal payments; an assessment typically rendered by an independent third-party organization.
credit risk The risk that a bond issuer may be unable to pay interest or principal to its bondholders.
duration A measure of an individual bond’s sensitivity to interest rates, expressed in years. Calculations of duration generally take into account the bond’s yield, interest payments, maturity date and call features.
weighted average duration A measure of the duration of all bonds in a fund’s portfolio, also expressed in years, based on the market value weighted average duration of each bond in the portfolio.
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.
face value The value of a bond, note, mortgage or other security as given on the certificate or instrument. Face value is also referred to as par value or nominal value.
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.
interest Payments to bondholders (usually made twice a year) as compensation for loaning the bond principal to the issuer.
interest rate risk The risk that a bond’s value will fluctuate if market interest rates change or are expected to change. Bond prices tend to move in the opposite direction of interest rates: when interest rates rise, bond prices tend to fall.
liquidity The ability to convert a security or asset quickly into cash.
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.
maturity The maturity of a bond will generally be determined using a portfolio security’s final maturity date (date on which the final principal payment of a bond is scheduled to be paid); however, for securitized products, such as mortgage-backed securities and certain other asset-backed securities, maturity will be determined on an average life basis (weighted average time to receipt of all principal payments) by the investment adviser. Because pre-payment rates of individual mortgage pools vary widely, the average life of a particular pool cannot be predicted precisely. For securities with embedded demand features, such as puts or calls, either the demand date or the final maturity date will be used depending on interest rates, yields and other market conditions. The weighted average maturity (WAM) of a fund is dollar-weighted based upon the market value of a fund’s securities at the time of the calculation.
mortgage-backed securities Bond or other debt securities that represent ownership in a pool of mortgage loans.
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.
prepayment risk The risk that a mortgage-backed security may be paid off early, typically because interest rates have fallen and the homeowners who hold the underlying mortgages have refinanced those mortgages at lower rates. In this type of situation, the investor who held the mortgage-backed security will usually have to settle for a lower rate when reinvesting the principal.
primary market The market that deals with the issuance of new securities.
replication If a fund uses a full replication method, the fund will invest substantially all of its assets proportionately in the securities included in the underlying index.
sampling If a fund uses a sampling method, the fund will not fully replicate the underlying 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 as closely as a fund that uses a full replication method.
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.
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.
Treasury inflation protected security (TIPS) A United States Treasury bond whose principal increases at the same rate as the Consumer Price Index (CPI).The interest payment is then calculated off that inflated (adjusted) principal and repaid at maturity.
weighted average For mutual funds or ETFs, an average that gives the same weight to each security as the security represents in the fund’s portfolio.
yield The income paid out by an investment, expressed as a percentage of the investment’s market value.
yield to maturity The annualized rate of return a bondholder could expect if the bond were held to maturity. In addition to interest payments, yield to maturity also factors in any difference between a bond’s current price and its principal amount, or face value.
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Schwab ETFs
Schwab ETFs are designed to serve as simple low-cost core investment products for a diversified portfolio. These ETFs seek to provide consistent, repeatable performance through a variety of investment strategies that span the equity and fixed income spectrum. The list below shows all currently available Schwab ETFs.
Investors should carefully consider information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges and expenses before investing. Please call 1-877-824-5615 for a prospectus 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.schwabassetmanagement.com/schwabetfs_prospectus, the SEC’s website at www.sec.gov, or by contacting Schwab ETFs at 1-877-824-5615.
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.schwabassetmanagement.com/schwabetfs_prospectus or the SEC’s website at www.sec.gov.
Schwab ETFs
U.S. ETFs
Schwab U.S. Broad Market ETF
Schwab 1000 Index® ETF
Schwab U.S. Large-Cap ETF
Schwab U.S. Large-Cap Growth ETF
Schwab U.S. Large-Cap Value ETF
Schwab U.S. Mid-Cap ETF
Schwab U.S. Small-Cap ETF
Schwab U.S. Dividend Equity ETF
Schwab U.S. REIT ETF
International ETFs
Schwab International Dividend Equity ETF
Schwab International Equity ETF
Schwab International Small-Cap Equity ETF
Schwab Emerging Markets Equity ETF
Fixed-Income ETFs
Schwab U.S. TIPS ETF
Schwab Short-Term U.S. Treasury ETF
Schwab Intermediate-Term U.S. Treasury ETF
Schwab Long-Term U.S. Treasury ETF
Schwab U.S. Aggregate Bond ETF
Schwab 1-5 Year Corporate Bond ETF
Schwab 5-10 Year Corporate Bond ETF
Fundamental Index* ETFs
Schwab Fundamental U.S. Broad Market Index ETF
Schwab Fundamental U.S. Large Company Index ETF
Schwab Fundamental U.S. Small Company Index ETF
Schwab Fundamental International Large Company Index ETF
Schwab Fundamental International Small Company Index ETF
Schwab Fundamental Emerging Markets Large Company
Index ETF
Index ETF
Active, Semi-Transparent (Also Known As Non-Transparent) ETF
Schwab Ariel ESG ETF
Thematic ETFs
Schwab Crypto Thematic ETF
Investment Adviser
Charles Schwab Investment Management, Inc., dba Schwab Asset Management
211 Main Street, San Francisco, CA 94105
Schwab ETFs
1-877-824-5615
© 2022 Charles Schwab Investment Management, Inc., dba Schwab Asset Management. All rights reserved.
Printed on recycled paper.
Printed on recycled paper.
| * | FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
The Schwab Ariel ESG ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This fund will not. This may create additional risks for your investment. For example:
| • | You may have to pay more money to trade the fund’s shares. This fund will provide less information to traders, who tend to charge more for trades when they have less information. |
| • | The price you pay to buy fund shares on an exchange may not match the value of the fund’s portfolio. The same is true when you sell shares. These price differences may be greater for this fund compared to other ETFs because it provides less information to traders. |
| • | These additional risks may be even greater in bad or uncertain market conditions. |
| • | The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio. |
The differences between this fund and other ETFs may also have advantages. By keeping certain information about the fund secret, this fund may face less risk that other traders can predict or copy its investment strategy. This may improve the fund’s performance. If other traders are able to copy or predict the fund’s investment strategy, however, this may hurt the fund’s performance.
For additional information regarding the unique attributes and risks of the fund, see Proxy Portfolio Risk, Premium/Discount Risk, Trading Halt Risk, Authorized Participant Concentration Risk, Tracking Error Risk and Shares of the Fund May Trade at Prices Other Than NAV in the Principal Risks and Proxy Portfolio and Proxy Overlap sections of the prospectus and/or the Statement of Additional Information. These risks are discussed on the next page.
Schwab Fixed-Income ETFs
Active semi-transparent ETFs operate differently from other exchange-traded funds (ETFs). Unlike other ETFs, an active semi-transparent ETF does not publicly disclose its entire portfolio composition each business day, which may affect the price at which shares of the ETF trade in the secondary market. Active semi-transparent ETFs have limited public trading history. There can be no assurance that an active trading market will develop, be maintained or operate as intended. There is a risk that the market price of an active semi-transparent ETF may vary significantly from the ETF’s net asset value and that its shares may trade at a wider bid/ask spread and, therefore, cost investors more to trade than shares of other ETFs. These risks are heightened during periods of market disruption or volatility.
Proxy Portfolio Risk: Unlike traditional ETFs, this fund does not disclose its portfolio holdings (Actual Portfolio) daily. The fund instead posts a Proxy Portfolio on its website each day. The Proxy Portfolio is designed to reflect the economic exposures and risk characteristics of the fund’s actual holdings on each trading day, but it is not the same as the fund’s Actual Portfolio. Although the Proxy Portfolio is intended to provide investors with enough information to allow for an effective arbitrage mechanism that will keep the market price of the Fund at or close to the underlying NAV per Share of the Fund, there is a risk (which may increase during periods of market disruption or volatility) that market prices will vary significantly from the underlying NAV of the fund. ETF trading on the basis of a published Proxy Portfolio may trade at a wider bid/ask spread than ETFs that publish their portfolios on a daily basis, especially during periods of market disruption or volatility, and therefore may cost investors more to trade. Also, while the Fund seeks to benefit from keeping its portfolio information secret, market participants may attempt to use the Proxy Portfolio to identify a Fund’s trading strategy, which if successful, could result in such market participants engaging in certain predatory trading practices that may have the potential to harm the Fund and its shareholders.
Proxy Portfolio Construction: The Proxy Portfolio is designed to recreate the daily performance of the Actual Portfolio. This is achieved by performing a “Factor Model” analysis of the Actual Portfolio. The Factor Model is comprised of three sets of factors or analytical metrics: market-based factors, fundamental factors, and industry/sector factors. The fund uses a “Model Universe” to generate its Proxy Portfolio. The Model Universe is comprised of securities that the fund can purchase and will be a financial index or stated portfolio of securities from which fund investments will be selected. The results of the Factor Model analysis are then applied to the Model Universe. The Proxy Portfolio is then generated as a result of this Model Universe analysis with the Proxy Portfolio being a small sub-set of the Model Universe. The Factor Model is applied to both the Actual Portfolio and the Model Universe to construct the fund’s Proxy Portfolio that performs in a manner substantially identical to the performance of its Actual Portfolio. The Proxy Portfolio will only include investments the fund is permitted to hold. The fund’s SAI contains more information on the Proxy Portfolio and its construction.
Proxy Portfolio and Proxy Overlap Information regarding the contents of the Proxy Portfolio, and the percentage weight overlap between the holdings of the Proxy Portfolio and the fund’s Actual Portfolio holdings that formed the basis for its calculation of NAV at the end of the prior Business Day (the Portfolio Overlap), is available by visiting the fund’s website www.schwabassetmanagement.com.
Because environmental, social and governance (ESG) strategies exclude some securities, ESG-focused products may not be able to take advantage of the same opportunities or market trends as products that do not use such strategies. Additionally, the criteria used to select companies for investment may result in investing in securities, industries or sectors that underperform the market as a whole.
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, Jonathan de St. Paer and Registrant’s Chief Financial Officer, Mark Fischer, 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 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: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: 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 Investment Company Act of 1940, are attached. | |||
| (3) | Not applicable. | |||
(b) | ||||
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 – Schwab Fixed-Income ETFs
By: | /s/ Jonathan de St. Paer | |
Jonathan de St. Paer Chief Executive Officer | ||
Date: | August 16, 2022 | |
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/ Jonathan de St. Paer | |
Jonathan de St. Paer Chief Executive Officer | ||
Date: | August 16, 2022 | |
By: | /s/ Mark Fischer | |
Mark Fischer Chief Financial Officer | ||
Date: | August 16, 2022 | |