SECURITIES AND EXCHANGE COMMISSION
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-07704
Schwab Capital Trust – Target Index Funds
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(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
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(Address of principal executive offices) (Zip code)
Schwab Capital Trust
211 Main Street, San Francisco, California 94105
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(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: March 31
Date of reporting period: March 31, 2020
Item 1: Report(s) to Shareholders.
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imge5056dd31.jpg)
New Notice Regarding Shareholder Report Delivery Options |
Beginning on January 1, 2021, paper copies of a fund’s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports from a fund or from your financial intermediary (such as a bank or broker-dealer). Instead, the reports will be made available on a fund’s website www.schwabfunds.com/schwabfunds_prospectus, and you will be notified by mail each time a report is posted and the mailing will provide a website link to access the report. You will continue to receive other fund regulatory documents (such as prospectuses or supplements) in paper unless you have elected to receive all fund documents electronically. |
If you would like to receive a fund’s future shareholder reports in paper free of charge after January 1, 2021, you can make that request: |
• If you invest through Charles Schwab & Co, Inc. (broker-dealer), by calling 1-866-345-5954 and using the unique identifier attached to this mailing; |
• If you invest through another financial intermediary (such as a bank or broker-dealer) by contacting them directly; or |
• If owned directly through a fund by calling 1-800-407-0256. |
If you already receive shareholder reports and other fund documents electronically, you will not be affected by this change and you need not take any action. |
Total Returns For the 12 Months Ended March 31, 2020 | |
Schwab Target 2010 Index Fund (Ticker Symbol: SWYAX) | 0.58% |
Target 2010 Passive Composite Index | 1.11% |
Fund Category: Morningstar Target-Date 2000-20101 | -1.14% |
Performance Details | pages 8-10 |
Schwab Target 2015 Index Fund (Ticker Symbol: SWYBX) | -0.02% |
Target 2015 Passive Composite Index | 0.56% |
Fund Category: Morningstar Target-Date 20151 | -2.27% |
Performance Details | pages 11-13 |
Schwab Target 2020 Index Fund (Ticker Symbol: SWYLX) | -0.17% |
Target 2020 Passive Composite Index | 0.30% |
Fund Category: Morningstar Target-Date 20201 | -2.82% |
Performance Details | pages 14-16 |
Schwab Target 2025 Index Fund (Ticker Symbol: SWYDX) | -2.89% |
Target 2025 Passive Composite Index | -2.53% |
Fund Category: Morningstar Target-Date 20251 | -4.31% |
Performance Details | pages 17-19 |
Schwab Target 2030 Index Fund (Ticker Symbol: SWYEX) | -4.99% |
Target 2030 Passive Composite Index | -4.71% |
Fund Category: Morningstar Target-Date 20301 | -5.98% |
Performance Details | pages 20-22 |
Schwab Target 2035 Index Fund (Ticker Symbol: SWYFX) | -6.72% |
Target 2035 Passive Composite Index | -6.48% |
Fund Category: Morningstar Target-Date 20351 | -7.75% |
Performance Details | pages 23-25 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
Total Returns For the 12 Months Ended March 31, 2020 | |
Schwab Target 2040 Index Fund (Ticker Symbol: SWYGX) | -8.20% |
Target 2040 Passive Composite Index | -8.00% |
Fund Category: Morningstar Target-Date 20401 | -9.31% |
Performance Details | pages 26-28 |
Schwab Target 2045 Index Fund (Ticker Symbol: SWYHX) | -9.55%2 |
Target 2045 Passive Composite Index | -9.46% |
Fund Category: Morningstar Target-Date 20451 | -10.36% |
Performance Details | pages 29-31 |
Schwab Target 2050 Index Fund (Ticker Symbol: SWYMX) | -10.35% |
Target 2050 Passive Composite Index | -10.28% |
Fund Category: Morningstar Target-Date 20501 | -10.82% |
Performance Details | pages 32-34 |
Schwab Target 2055 Index Fund (Ticker Symbol: SWYJX) | -10.96% |
Target 2055 Passive Composite Index | -10.85% |
Fund Category: Morningstar Target-Date 20551 | -11.02% |
Performance Details | pages 35-37 |
Schwab Target 2060 Index Fund (Ticker Symbol: SWYNX) | -11.50% |
Target 2060 Passive Composite Index | -11.44% |
Fund Category: Morningstar Target-Date 2060+1 | -11.12% |
Performance Details | pages 38-40 |
1 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
2 | Total return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the net asset value (NAV) at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semiannual reports. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgb3d833c72.jpg)
President of Charles Schwab
Investment Management, Inc.
and the funds covered
in this report.
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img3348b0463.jpg)
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgf0b8a8e54.jpg)
Category: | S&P 500{R} Index: | Russell 2000{R} Index: | MSCI EAFE{R} Index (Net)*: | Bloomberg Barclays US Aggregate Bond Index: | Bloomberg Barclays US Treasury Bills 1-3 Month Index: |
Description: | measures U.S. large-cap stocks | measures U.S. small-cap stocks | measures (in U.S. dollars) large-cap stocks in Europe, Australasia and the Far East | measures the U.S. bond market | measures short-term U.S. Treasury obligations |
Line Style | 1 | 2 | 3 | 4 | 5 |
3/31/2019 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
4/7/2019 | 2.09 | 2.80 | 1.99 | -0.30 | 0.03 |
4/14/2019 | 2.66 | 2.96 | 2.28 | -0.41 | 0.08 |
4/21/2019 | 2.59 | 1.73 | 2.62 | -0.35 | 0.12 |
4/28/2019 | 3.83 | 3.43 | 2.44 | 0.02 | 0.17 |
5/5/2019 | 4.06 | 4.90 | 2.74 | -0.04 | 0.22 |
5/12/2019 | 1.87 | 2.25 | 0.04 | 0.27 | 0.26 |
5/19/2019 | 1.17 | -0.12 | 0.25 | 0.61 | 0.31 |
5/26/2019 | 0.02 | -1.51 | -0.27 | 0.87 | 0.36 |
6/2/2019 | -2.56 | -4.64 | -2.13 | 1.80 | 0.41 |
6/9/2019 | 1.79 | -1.44 | 1.04 | 2.17 | 0.46 |
6/16/2019 | 2.32 | -0.86 | 0.77 | 2.19 | 0.52 |
6/23/2019 | 4.59 | 0.92 | 3.01 | 2.64 | 0.57 |
6/30/2019 | 4.30 | 2.10 | 3.68 | 3.08 | 0.62 |
7/7/2019 | 6.07 | 2.70 | 4.22 | 2.93 | 0.63 |
7/14/2019 | 6.94 | 2.35 | 3.65 | 2.71 | 0.68 |
7/21/2019 | 5.64 | 0.92 | 3.51 | 3.09 | 0.73 |
7/28/2019 | 7.40 | 2.96 | 3.30 | 3.06 | 0.77 |
8/4/2019 | 4.11 | 0.03 | 0.57 | 4.08 | 0.81 |
8/11/2019 | 3.69 | -1.29 | -0.58 | 4.67 | 0.86 |
8/18/2019 | 2.71 | -2.52 | -2.02 | 5.67 | 0.91 |
8/25/2019 | 1.26 | -4.73 | -1.18 | 5.76 | 0.94 |
9/1/2019 | 4.13 | -2.39 | -0.29 | 5.98 | 0.98 |
9/8/2019 | 6.03 | -1.70 | 1.93 | 5.82 | 1.02 |
9/15/2019 | 7.12 | 3.13 | 3.97 | 4.07 | 1.06 |
9/22/2019 | 6.59 | 1.95 | 3.60 | 4.98 | 1.10 |
9/29/2019 | 5.54 | -0.55 | 2.91 | 5.37 | 1.15 |
10/6/2019 | 5.23 | -1.83 | 0.69 | 6.23 | 1.20 |
10/13/2019 | 5.92 | -1.07 | 3.02 | 5.14 | 1.23 |
10/20/2019 | 6.51 | 0.48 | 4.30 | 5.24 | 1.27 |
10/27/2019 | 7.82 | 2.01 | 5.62 | 5.08 | 1.30 |
11/3/2019 | 9.43 | 4.04 | 6.86 | 5.58 | 1.34 |
11/10/2019 | 10.44 | 4.69 | 7.43 | 4.66 | 1.37 |
11/17/2019 | 11.48 | 4.58 | 7.52 | 5.22 | 1.40 |
11/24/2019 | 11.16 | 4.11 | 6.90 | 5.52 | 1.43 |
12/1/2019 | 12.31 | 6.48 | 7.45 | 5.68 | 1.46 |
12/8/2019 | 12.54 | 7.11 | 7.86 | 5.45 | 1.50 |
12/15/2019 | 13.41 | 7.44 | 9.71 | 5.76 | 1.52 |
12/22/2019 | 15.31 | 9.69 | 10.41 | 5.44 | 1.55 |
12/29/2019 | 16.00 | 9.52 | 11.26 | 5.76 | 1.58 |
1/5/2020 | 15.87 | 9.06 | 11.25 | 6.18 | 1.62 |
1/12/2020 | 17.01 | 8.87 | 11.15 | 6.08 | 1.65 |
1/19/2020 | 19.33 | 11.63 | 12.10 | 6.14 | 1.67 |
1/26/2020 | 18.13 | 9.19 | 11.41 | 6.98 | 1.70 |
2/2/2020 | 15.65 | 6.03 | 8.63 | 7.64 | 1.73 |
2/9/2020 | 19.36 | 8.87 | 10.64 | 7.57 | 1.76 |
2/16/2020 | 21.33 | 10.94 | 10.62 | 7.60 | 1.79 |
2/23/2020 | 19.85 | 10.36 | 9.25 | 8.21 | 1.82 |
3/1/2020 | 6.13 | -2.89 | -1.19 | 9.58 | 1.87 |
3/8/2020 | 6.82 | -4.65 | -0.86 | 11.64 | 2.00 |
3/15/2020 | -2.50 | -20.37 | -19.06 | 8.10 | 2.05 |
3/22/2020 | -17.08 | -33.22 | -23.74 | 5.62 | 2.08 |
3/29/2020 | -8.55 | -25.42 | -15.18 | 8.43 | 2.08 |
3/31/2020 | -6.98 | -23.99 | -14.38 | 8.93 | 2.08 |
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
![]() | Zifan Tang, Ph.D., CFA, Senior Portfolio Manager, is responsible for the co-management of the funds. Prior to joining CSIM in 2012, Ms. Tang was a product manager at Thomson Reuters and from 1997 to 2009 worked as a portfolio manager at Barclays Global Investors (now known as BlackRock, Inc.). |
![]() | Patrick Kwok, CFA, Portfolio Manager, is responsible for the co-management of the funds. Prior to joining CSIM in 2008, Mr. Kwok spent two years as an asset operations specialist at Charles Schwab Trust Company. He also worked for one year at State Street Bank & Trust as a portfolio accountant and pricing specialist. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2mv4.jpg)
Schwab Target 2010 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2010 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9990 | 9999.25 | 10005.71 | 9992.54 |
9/2016 | 10010 | 10017.12 | 9999.85 | 10008.1 |
10/2016 | 9890 | 9797.4 | 9923.36 | 9893.04 |
11/2016 | 9870 | 10232.46 | 9688.63 | 9875.2 |
12/2016 | 9954.2 | 10431.57 | 9702.3 | 9966.98 |
1/2017 | 10054.95 | 10634.28 | 9721.34 | 10064.38 |
2/2017 | 10196 | 11026.81 | 9786.67 | 10214.6 |
3/2017 | 10226.23 | 11035.84 | 9781.54 | 10236.88 |
4/2017 | 10316.9 | 11150.74 | 9857.03 | 10324.59 |
5/2017 | 10407.58 | 11264.14 | 9932.9 | 10424.75 |
6/2017 | 10437.81 | 11367.78 | 9922.9 | 10440.4 |
7/2017 | 10538.56 | 11582.65 | 9965.6 | 10548.55 |
8/2017 | 10588.93 | 11603.76 | 10054.99 | 10601.87 |
9/2017 | 10649.38 | 11886.96 | 10007.1 | 10666.1 |
10/2017 | 10729.98 | 12144.69 | 10012.89 | 10750.38 |
11/2017 | 10820.66 | 12512.85 | 10000.04 | 10845.44 |
12/2017 | 10897.43 | 12639.13 | 10045.94 | 10922.69 |
1/2018 | 11029.96 | 13309.77 | 9930.24 | 11063.84 |
2/2018 | 10815.88 | 12816.75 | 9836.11 | 10845.87 |
3/2018 | 10795.49 | 12562.72 | 9899.18 | 10818.78 |
4/2018 | 10795.49 | 12607.52 | 9825.56 | 10820.83 |
5/2018 | 10887.24 | 12963.68 | 9895.68 | 10918.21 |
6/2018 | 10907.63 | 13049.31 | 9883.51 | 10928.28 |
7/2018 | 11019.76 | 13485.81 | 9885.86 | 11046.3 |
8/2018 | 11131.9 | 13954.64 | 9949.47 | 11166.16 |
9/2018 | 11111.51 | 13976.7 | 9885.4 | 11140.65 |
10/2018 | 10775.11 | 12941.4 | 9807.28 | 10799.82 |
11/2018 | 10866.85 | 13200.73 | 9865.83 | 10899.92 |
12/2018 | 10649.63 | 11969.71 | 10047.08 | 10674.7 |
1/2019 | 11034.43 | 13000.42 | 10153.77 | 11057.54 |
2/2019 | 11148.83 | 13456.9 | 10147.89 | 11176.66 |
3/2019 | 11315.23 | 13650.32 | 10342.75 | 11340.45 |
4/2019 | 11460.83 | 14193.97 | 10345.4 | 11487.87 |
5/2019 | 11315.23 | 13277.77 | 10529.04 | 11357.82 |
6/2019 | 11658.43 | 14208.38 | 10661.27 | 11693.75 |
7/2019 | 11689.63 | 14416.88 | 10684.72 | 11738.44 |
8/2019 | 11783.23 | 14126.26 | 10961.58 | 11814.72 |
9/2019 | 11845.63 | 14369.88 | 10903.2 | 11869.38 |
10/2019 | 11960.03 | 14674.71 | 10936.04 | 11994.1 |
11/2019 | 12074.43 | 15230.12 | 10930.47 | 12114.32 |
12/2019 | 12199.85 | 15668.34 | 10922.85 | 12241.48 |
1/2020 | 12295.58 | 15649.18 | 11133.06 | 12338.5 |
2/2020 | 12061.58 | 14367.77 | 11333.44 | 12095.49 |
3/2020 | 11380.86 | 12384.13 | 11266.74 | 11466.29 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2010 Index Fund (8/25/16) | 0.58% | 3.63% | 3.66% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2010 Passive Composite Index | 1.11% | 3.85% | 3.88% |
Fund Category: Morningstar Target-Date 2000-20103 | -1.14% | 2.75% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 12 |
Portfolio Turnover Rate | 19% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgfb6a64f57.jpg)
Value | Override | |
Fixed Income | 58.4 | |
Stocks - U.S. | 23.4 | |
Stocks - International | 9.2 | |
Money Market Fund | 3.7 | |
Short-Term Investments | 3.5 | |
Real Assets | 1.8 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img3fb5d0a08.jpg)
Schwab U.S. Aggregate Bond ETF | 44.5 | |
Schwab U.S. Large-Cap ETF | 22.6 | |
Schwab International Equity ETF | 9.4 | |
Schwab Short-Term U.S. Treasury ETF | 8.9 | |
Schwab U.S. TIPS ETF | 6.5 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 3.8 | |
Schwab U.S. REIT ETF | 1.8 | |
Schwab U.S. Small-Cap ETF | 1.4 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | Percentages may not add up to 100% due to rounding. |
2 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2mv5.jpg)
Schwab Target 2015 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2015 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9990 | 9999.25 | 10005.71 | 9991.93 |
9/2016 | 10010 | 10017.12 | 9999.85 | 10008.14 |
10/2016 | 9890 | 9797.4 | 9923.36 | 9889.36 |
11/2016 | 9880 | 10232.46 | 9688.63 | 9879.53 |
12/2016 | 9967.1 | 10431.57 | 9702.3 | 9976.08 |
1/2017 | 10067.88 | 10634.28 | 9721.34 | 10077.63 |
2/2017 | 10219.05 | 11026.81 | 9786.67 | 10234.04 |
3/2017 | 10249.28 | 11035.84 | 9781.54 | 10257.94 |
4/2017 | 10339.99 | 11150.74 | 9857.03 | 10347.72 |
5/2017 | 10430.69 | 11264.14 | 9932.9 | 10451.08 |
6/2017 | 10460.92 | 11367.78 | 9922.9 | 10468.78 |
7/2017 | 10571.78 | 11582.65 | 9965.6 | 10581.55 |
8/2017 | 10622.17 | 11603.76 | 10054.99 | 10633.79 |
9/2017 | 10692.71 | 11886.96 | 10007.1 | 10704.54 |
10/2017 | 10773.34 | 12144.69 | 10012.89 | 10793.72 |
11/2017 | 10874.12 | 12512.85 | 10000.04 | 10895.37 |
12/2017 | 10948.59 | 12639.13 | 10045.94 | 10975.13 |
1/2018 | 11101.93 | 13309.77 | 9930.24 | 11130.53 |
2/2018 | 10866.81 | 12816.75 | 9836.11 | 10901.2 |
3/2018 | 10846.37 | 12562.72 | 9899.18 | 10868.64 |
4/2018 | 10846.37 | 12607.52 | 9825.56 | 10874.86 |
5/2018 | 10938.37 | 12963.68 | 9895.68 | 10973.67 |
6/2018 | 10958.82 | 13049.31 | 9883.51 | 10983.77 |
7/2018 | 11081.49 | 13485.81 | 9885.86 | 11109.82 |
8/2018 | 11204.16 | 13954.64 | 9949.47 | 11232.6 |
9/2018 | 11183.72 | 13976.7 | 9885.4 | 11208.93 |
10/2018 | 10815.7 | 12941.4 | 9807.28 | 10846.99 |
11/2018 | 10917.92 | 13200.73 | 9865.83 | 10949.94 |
12/2018 | 10663.28 | 11969.71 | 10047.08 | 10700.58 |
1/2019 | 11058.6 | 13000.42 | 10153.77 | 11103.47 |
2/2019 | 11183.44 | 13456.9 | 10147.89 | 11231.4 |
3/2019 | 11360.3 | 13650.32 | 10342.75 | 11395.29 |
4/2019 | 11505.94 | 14193.97 | 10345.4 | 11552.76 |
5/2019 | 11339.49 | 13277.77 | 10529.04 | 11401.38 |
6/2019 | 11693.2 | 14208.38 | 10661.27 | 11754.78 |
7/2019 | 11734.81 | 14416.88 | 10684.72 | 11800.35 |
8/2019 | 11807.64 | 14126.26 | 10961.58 | 11865.44 |
9/2019 | 11870.05 | 14369.88 | 10903.2 | 11928.67 |
10/2019 | 11994.89 | 14674.71 | 10936.04 | 12061.16 |
11/2019 | 12130.13 | 15230.12 | 10930.47 | 12189.81 |
12/2019 | 12262.38 | 15668.34 | 10922.85 | 12326.88 |
1/2020 | 12347.46 | 15649.18 | 11133.06 | 12417.39 |
2/2020 | 12081.58 | 14367.77 | 11333.44 | 12138.5 |
3/2020 | 11358.39 | 12384.13 | 11266.74 | 11459.09 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2015 Index Fund (8/25/16) | -0.02% | 3.48% | 3.60% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2015 Passive Composite Index | 0.56% | 3.76% | 3.86% |
Fund Category: Morningstar Target-Date 20153 | -2.27% | 2.78% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 10 |
Portfolio Turnover Rate | 24% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img8e5df0449.jpg)
Value | Override | |
Fixed Income | 57.3 | |
Stocks - U.S. | 25.6 | |
Stocks - International | 10.5 | |
Money Market Fund | 3 | |
Real Assets | 1.9 | |
Short-Term Investments | 1.7 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img2d9972d210.jpg)
Schwab U.S. Aggregate Bond ETF | 43.1 | |
Schwab U.S. Large-Cap ETF | 24.1 | |
Schwab International Equity ETF | 10.5 | |
Schwab Short-Term U.S. Treasury ETF | 8.3 | |
Schwab U.S. TIPS ETF | 6.2 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 3 | |
Schwab U.S. REIT ETF | 1.9 | |
Schwab U.S. Small-Cap ETF | 1.6 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2ms3.jpg)
Schwab Target 2020 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2020 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9980 | 9999.25 | 10005.71 | 9987.84 |
9/2016 | 10010 | 10017.12 | 9999.85 | 10008 |
10/2016 | 9870 | 9797.4 | 9923.36 | 9870.12 |
11/2016 | 9900 | 10232.46 | 9688.63 | 9899.47 |
12/2016 | 10006.73 | 10431.57 | 9702.3 | 10023.37 |
1/2017 | 10147.67 | 10634.28 | 9721.34 | 10151.12 |
2/2017 | 10318.81 | 11026.81 | 9786.67 | 10334.75 |
3/2017 | 10369.15 | 11035.84 | 9781.54 | 10368.01 |
4/2017 | 10469.82 | 11150.74 | 9857.03 | 10468.46 |
5/2017 | 10580.56 | 11264.14 | 9932.9 | 10588.29 |
6/2017 | 10620.83 | 11367.78 | 9922.9 | 10616.42 |
7/2017 | 10761.77 | 11582.65 | 9965.6 | 10753.37 |
8/2017 | 10802.03 | 11603.76 | 10054.99 | 10802.61 |
9/2017 | 10902.71 | 11886.96 | 10007.1 | 10901.23 |
10/2017 | 11013.45 | 12144.69 | 10012.89 | 11012.95 |
11/2017 | 11134.25 | 12512.85 | 10000.04 | 11141.79 |
12/2017 | 11217.89 | 12639.13 | 10045.94 | 11235.03 |
1/2018 | 11442.04 | 13309.77 | 9930.24 | 11458.69 |
2/2018 | 11166.94 | 12816.75 | 9836.11 | 11191.51 |
3/2018 | 11126.19 | 12562.72 | 9899.18 | 11139.51 |
4/2018 | 11136.38 | 12607.52 | 9825.56 | 11154.09 |
5/2018 | 11228.08 | 12963.68 | 9895.68 | 11256.19 |
6/2018 | 11248.46 | 13049.31 | 9883.51 | 11262.21 |
7/2018 | 11401.29 | 13485.81 | 9885.86 | 11416.61 |
8/2018 | 11523.55 | 13954.64 | 9949.47 | 11546.82 |
9/2018 | 11513.37 | 13976.7 | 9885.4 | 11527.26 |
10/2018 | 11075.25 | 12941.4 | 9807.28 | 11096.87 |
11/2018 | 11197.51 | 13200.73 | 9865.83 | 11214.99 |
12/2018 | 10870.77 | 11969.71 | 10047.08 | 10892.67 |
1/2019 | 11339.79 | 13000.42 | 10153.77 | 11363.36 |
2/2019 | 11475.29 | 13456.9 | 10147.89 | 11507.04 |
3/2019 | 11652.47 | 13650.32 | 10342.75 | 11674.79 |
4/2019 | 11829.65 | 14193.97 | 10345.4 | 11852.21 |
5/2019 | 11621.2 | 13277.77 | 10529.04 | 11657.74 |
6/2019 | 12006.84 | 14208.38 | 10661.27 | 12048.45 |
7/2019 | 12048.53 | 14416.88 | 10684.72 | 12096.27 |
8/2019 | 12100.64 | 14126.26 | 10961.58 | 12139.06 |
9/2019 | 12194.45 | 14369.88 | 10903.2 | 12217.96 |
10/2019 | 12340.36 | 14674.71 | 10936.04 | 12368.5 |
11/2019 | 12475.86 | 15230.12 | 10930.47 | 12512.49 |
12/2019 | 12633.45 | 15668.34 | 10922.85 | 12674.67 |
1/2020 | 12707.95 | 15649.18 | 11133.06 | 12750.14 |
2/2020 | 12420.58 | 14367.77 | 11333.44 | 12439.73 |
3/2020 | 11632.99 | 12384.13 | 11266.74 | 11709.95 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2020 Index Fund (8/25/16) | -0.17% | 3.91% | 4.29% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2020 Passive Composite Index | 0.30% | 4.14% | 4.49% |
Fund Category: Morningstar Target-Date 20203 | -2.82% | 2.65% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 10 |
Portfolio Turnover Rate | 22% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img3282872711.jpg)
Value | Override | |
Fixed Income | 55.6 | |
Stocks - U.S. | 26.5 | |
Stocks - International | 11.3 | |
Money Market Fund | 3 | |
Real Assets | 2.1 | |
Short-Term Investments | 1.5 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img1c9b419712.jpg)
Schwab U.S. Aggregate Bond ETF | 41.9 | |
Schwab U.S. Large-Cap ETF | 24.8 | |
Schwab International Equity ETF | 11.4 | |
Schwab Short-Term U.S. Treasury ETF | 7.9 | |
Schwab U.S. TIPS ETF | 6 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 3.1 | |
Schwab U.S. REIT ETF | 2.1 | |
Schwab U.S. Small-Cap ETF | 1.7 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2ms4.jpg)
Schwab Target 2025 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2025 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9980 | 9999.25 | 10005.71 | 9984.13 |
9/2016 | 10010 | 10017.12 | 9999.85 | 10008.18 |
10/2016 | 9850 | 9797.4 | 9923.36 | 9852.38 |
11/2016 | 9920 | 10232.46 | 9688.63 | 9921.7 |
12/2016 | 10058.72 | 10431.57 | 9702.3 | 10071.01 |
1/2017 | 10219.98 | 10634.28 | 9721.34 | 10222.72 |
2/2017 | 10421.56 | 11026.81 | 9786.67 | 10438.92 |
3/2017 | 10482.03 | 11035.84 | 9781.54 | 10482.84 |
4/2017 | 10592.9 | 11150.74 | 9857.03 | 10595.16 |
5/2017 | 10734.01 | 11264.14 | 9932.9 | 10733.25 |
6/2017 | 10784.4 | 11367.78 | 9922.9 | 10774.17 |
7/2017 | 10945.66 | 11582.65 | 9965.6 | 10939.38 |
8/2017 | 10985.98 | 11603.76 | 10054.99 | 10983.27 |
9/2017 | 11127.08 | 11886.96 | 10007.1 | 11117.85 |
10/2017 | 11258.11 | 12144.69 | 10012.89 | 11257.19 |
11/2017 | 11419.37 | 12512.85 | 10000.04 | 11421.18 |
12/2017 | 11520.02 | 12639.13 | 10045.94 | 11530.06 |
1/2018 | 11826.41 | 13309.77 | 9930.24 | 11838.91 |
2/2018 | 11479.17 | 12816.75 | 9836.11 | 11508.79 |
3/2018 | 11417.9 | 12562.72 | 9899.18 | 11423.04 |
4/2018 | 11438.32 | 12607.52 | 9825.56 | 11454.93 |
5/2018 | 11550.66 | 12963.68 | 9895.68 | 11566.73 |
6/2018 | 11550.66 | 13049.31 | 9883.51 | 11569.98 |
7/2018 | 11754.92 | 13485.81 | 9885.86 | 11772.8 |
8/2018 | 11897.9 | 13954.64 | 9949.47 | 11920.53 |
9/2018 | 11887.68 | 13976.7 | 9885.4 | 11909.87 |
10/2018 | 11336.19 | 12941.4 | 9807.28 | 11361.66 |
11/2018 | 11479.17 | 13200.73 | 9865.83 | 11502.6 |
12/2018 | 11025.64 | 11969.71 | 10047.08 | 11045.02 |
1/2019 | 11599.89 | 13000.42 | 10153.77 | 11628.28 |
2/2019 | 11787.83 | 13456.9 | 10147.89 | 11819.35 |
3/2019 | 11965.32 | 13650.32 | 10342.75 | 11988.73 |
4/2019 | 12195.02 | 14193.97 | 10345.4 | 12221.73 |
5/2019 | 11860.91 | 13277.77 | 10529.04 | 11904.41 |
6/2019 | 12351.64 | 14208.38 | 10661.27 | 12391.56 |
7/2019 | 12393.4 | 14416.88 | 10684.72 | 12447.01 |
8/2019 | 12382.96 | 14126.26 | 10961.58 | 12423.91 |
9/2019 | 12518.69 | 14369.88 | 10903.2 | 12549.06 |
10/2019 | 12706.63 | 14674.71 | 10936.04 | 12742.93 |
11/2019 | 12894.56 | 15230.12 | 10930.47 | 12934.27 |
12/2019 | 13108.7 | 15668.34 | 10922.85 | 13155.58 |
1/2020 | 13129.98 | 15649.18 | 11133.06 | 13190 |
2/2020 | 12672.45 | 14367.77 | 11333.44 | 12691.87 |
3/2020 | 11619.07 | 12384.13 | 11266.74 | 11685.09 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2025 Index Fund (8/25/16) | -2.89% | 3.49% | 4.26% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2025 Passive Composite Index | -2.53% | 3.69% | 4.42% |
Fund Category: Morningstar Target-Date 20253 | -4.31% | 2.54% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 11 |
Portfolio Turnover Rate | 19% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img44796cbe13.jpg)
Value | Override | |
Fixed Income | 42.3 | |
Stocks - U.S. | 34.7 | |
Stocks - International | 16.9 | |
Real Assets | 2.8 | |
Money Market Fund | 2 | |
Short-Term Investments | 1.3 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgfb80adec14.jpg)
Schwab U.S. Aggregate Bond ETF | 35.7 | |
Schwab U.S. Large-Cap ETF | 32.2 | |
Schwab International Equity ETF | 14.9 | |
Schwab Short-Term U.S. Treasury ETF | 4.3 | |
Schwab U.S. REIT ETF | 2.8 | |
Schwab U.S. Small-Cap ETF | 2.6 | |
Schwab U.S. TIPS ETF | 2.3 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 2 | |
Schwab Emerging Markets Equity ETF | 2 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2ms5.jpg)
Schwab Target 2030 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2030 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9980 | 9999.25 | 10005.71 | 9981.04 |
9/2016 | 10020 | 10017.12 | 9999.85 | 10008.66 |
10/2016 | 9840 | 9797.4 | 9923.36 | 9839.47 |
11/2016 | 9940 | 10232.46 | 9688.63 | 9939.89 |
12/2016 | 10091.7 | 10431.57 | 9702.3 | 10108.64 |
1/2017 | 10263.43 | 10634.28 | 9721.34 | 10278.87 |
2/2017 | 10495.77 | 11026.81 | 9786.67 | 10518.26 |
3/2017 | 10566.48 | 11035.84 | 9781.54 | 10570.33 |
4/2017 | 10687.7 | 11150.74 | 9857.03 | 10690.95 |
5/2017 | 10829.13 | 11264.14 | 9932.9 | 10840.95 |
6/2017 | 10889.74 | 11367.78 | 9922.9 | 10891.68 |
7/2017 | 11081.67 | 11582.65 | 9965.6 | 11078.54 |
8/2017 | 11111.98 | 11603.76 | 10054.99 | 11117.72 |
9/2017 | 11273.61 | 11886.96 | 10007.1 | 11280.01 |
10/2017 | 11435.24 | 12144.69 | 10012.89 | 11439.73 |
11/2017 | 11617.07 | 12512.85 | 10000.04 | 11630.37 |
12/2017 | 11727.82 | 12639.13 | 10045.94 | 11751.43 |
1/2018 | 12106.47 | 13309.77 | 9930.24 | 12125.69 |
2/2018 | 11707.36 | 12816.75 | 9836.11 | 11747.39 |
3/2018 | 11635.72 | 12562.72 | 9899.18 | 11636.15 |
4/2018 | 11656.19 | 12607.52 | 9825.56 | 11682.48 |
5/2018 | 11768.76 | 12963.68 | 9895.68 | 11800.06 |
6/2018 | 11778.99 | 13049.31 | 9883.51 | 11800.61 |
7/2018 | 12024.6 | 13485.81 | 9885.86 | 12039.67 |
8/2018 | 12167.87 | 13954.64 | 9949.47 | 12198.97 |
9/2018 | 12167.87 | 13976.7 | 9885.4 | 12194.77 |
10/2018 | 11533.38 | 12941.4 | 9807.28 | 11555.05 |
11/2018 | 11697.12 | 13200.73 | 9865.83 | 11713.08 |
12/2018 | 11132.47 | 11969.71 | 10047.08 | 11151.19 |
1/2019 | 11791.63 | 13000.42 | 10153.77 | 11818.75 |
2/2019 | 12011.35 | 13456.9 | 10147.89 | 12045.26 |
3/2019 | 12189.22 | 13650.32 | 10342.75 | 12213.73 |
4/2019 | 12471.72 | 14193.97 | 10345.4 | 12488.73 |
5/2019 | 12042.74 | 13277.77 | 10529.04 | 12075.86 |
6/2019 | 12597.27 | 14208.38 | 10661.27 | 12634.04 |
7/2019 | 12639.12 | 14416.88 | 10684.72 | 12694.32 |
8/2019 | 12576.34 | 14126.26 | 10961.58 | 12617.35 |
9/2019 | 12743.75 | 14369.88 | 10903.2 | 12777.09 |
10/2019 | 12973.93 | 14674.71 | 10936.04 | 13004.4 |
11/2019 | 13193.65 | 15230.12 | 10930.47 | 13230.78 |
12/2019 | 13458.14 | 15668.34 | 10922.85 | 13499.3 |
1/2020 | 13436.81 | 15649.18 | 11133.06 | 13498.06 |
2/2020 | 12839.62 | 14367.77 | 11333.44 | 12852.43 |
3/2020 | 11581.25 | 12384.13 | 11266.74 | 11638.87 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2030 Index Fund (8/25/16) | -4.99% | 3.10% | 4.17% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2030 Passive Composite Index | -4.71% | 3.26% | 4.31% |
Fund Category: Morningstar Target-Date 20303 | -5.98% | 2.30% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 11 |
Portfolio Turnover Rate | 13% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgde38531e15.jpg)
Value | Override | |
Stocks - U.S. | 40.7 | |
Fixed Income | 32.4 | |
Stocks - International | 20.8 | |
Real Assets | 3.3 | |
Short-Term Investments | 1.5 | |
Money Market Fund | 1.3 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imga0e6fce416.jpg)
Schwab U.S. Large-Cap ETF | 37.6 | |
Schwab U.S. Aggregate Bond ETF | 29.6 | |
Schwab International Equity ETF | 17.9 | |
Schwab U.S. REIT ETF | 3.3 | |
Schwab U.S. Small-Cap ETF | 3.3 | |
Schwab Emerging Markets Equity ETF | 3 | |
Schwab Short-Term U.S. Treasury ETF | 2.3 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 1.3 | |
Schwab U.S. TIPS ETF | 0.6 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | Percentages may not add up to 100% due to rounding. |
2 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2ms6.jpg)
Schwab Target 2035 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2035 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9970 | 9999.25 | 10005.71 | 9978.27 |
9/2016 | 10010 | 10017.12 | 9999.85 | 10009.41 |
10/2016 | 9820 | 9797.4 | 9923.36 | 9829.29 |
11/2016 | 9950 | 10232.46 | 9688.63 | 9956.05 |
12/2016 | 10118.8 | 10431.57 | 9702.3 | 10141.06 |
1/2017 | 10320.77 | 10634.28 | 9721.34 | 10327.32 |
2/2017 | 10563.14 | 11026.81 | 9786.67 | 10585.04 |
3/2017 | 10643.93 | 11035.84 | 9781.54 | 10643.99 |
4/2017 | 10765.11 | 11150.74 | 9857.03 | 10771.1 |
5/2017 | 10916.59 | 11264.14 | 9932.9 | 10929.38 |
6/2017 | 10997.38 | 11367.78 | 9922.9 | 10988 |
7/2017 | 11199.36 | 11582.65 | 9965.6 | 11193.15 |
8/2017 | 11229.65 | 11603.76 | 10054.99 | 11228.17 |
9/2017 | 11421.52 | 11886.96 | 10007.1 | 11413.86 |
10/2017 | 11593.2 | 12144.69 | 10012.89 | 11590.33 |
11/2017 | 11795.17 | 12512.85 | 10000.04 | 11803.3 |
12/2017 | 11923.34 | 12639.13 | 10045.94 | 11935.04 |
1/2018 | 12343.32 | 13309.77 | 9930.24 | 12364.6 |
2/2018 | 11902.85 | 12816.75 | 9836.11 | 11945.95 |
3/2018 | 11810.66 | 12562.72 | 9899.18 | 11814.27 |
4/2018 | 11841.39 | 12607.52 | 9825.56 | 11873.84 |
5/2018 | 11974.55 | 12963.68 | 9895.68 | 11995.35 |
6/2018 | 11964.31 | 13049.31 | 9883.51 | 11993.54 |
7/2018 | 12240.88 | 13485.81 | 9885.86 | 12261.84 |
8/2018 | 12404.78 | 13954.64 | 9949.47 | 12429.91 |
9/2018 | 12404.78 | 13976.7 | 9885.4 | 12429.97 |
10/2018 | 11677.5 | 12941.4 | 9807.28 | 11711.74 |
11/2018 | 11851.63 | 13200.73 | 9865.83 | 11883.98 |
12/2018 | 11202.57 | 11969.71 | 10047.08 | 11232.97 |
1/2019 | 11934.76 | 13000.42 | 10153.77 | 11970.55 |
2/2019 | 12185.8 | 13456.9 | 10147.89 | 12226.06 |
3/2019 | 12363.62 | 13650.32 | 10342.75 | 12391.45 |
4/2019 | 12677.41 | 14193.97 | 10345.4 | 12700.98 |
5/2019 | 12164.88 | 13277.77 | 10529.04 | 12208.16 |
6/2019 | 12782.01 | 14208.38 | 10661.27 | 12822.2 |
7/2019 | 12823.85 | 14416.88 | 10684.72 | 12885.98 |
8/2019 | 12719.25 | 14126.26 | 10961.58 | 12761.53 |
9/2019 | 12917.99 | 14369.88 | 10903.2 | 12947.76 |
10/2019 | 13169.03 | 14674.71 | 10936.04 | 13202.45 |
11/2019 | 13420.07 | 15230.12 | 10930.47 | 13457.09 |
12/2019 | 13709.7 | 15668.34 | 10922.85 | 13766.19 |
1/2020 | 13656.36 | 15649.18 | 11133.06 | 13732.41 |
2/2020 | 12962.87 | 14367.77 | 11333.44 | 12968.29 |
3/2020 | 11533.22 | 12384.13 | 11266.74 | 11588.43 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2035 Index Fund (8/25/16) | -6.72% | 2.71% | 4.05% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2035 Passive Composite Index | -6.48% | 2.87% | 4.18% |
Fund Category: Morningstar Target-Date 20353 | -7.75% | 2.01% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 10 |
Portfolio Turnover Rate | 12% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img41eb8e2617.jpg)
Value | Override | |
Stocks - U.S. | 45.2 | |
Fixed Income | 24.8 | |
Stocks - International | 24.1 | |
Real Assets | 3.8 | |
Short-Term Investments | 1.5 | |
Money Market Fund | 0.6 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imga527dc4318.jpg)
Schwab U.S. Large-Cap ETF | 41.2 | |
Schwab U.S. Aggregate Bond ETF | 23.4 | |
Schwab International Equity ETF | 20.1 | |
Schwab U.S. Small-Cap ETF | 4.1 | |
Schwab Emerging Markets Equity ETF | 4 | |
Schwab U.S. REIT ETF | 3.8 | |
Schwab Short-Term U.S. Treasury ETF | 1.5 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 0.6 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2ms7.jpg)
Schwab Target 2040 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2040 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9970 | 9999.25 | 10005.71 | 9975.59 |
9/2016 | 10010 | 10017.12 | 9999.85 | 10010.16 |
10/2016 | 9820 | 9797.4 | 9923.36 | 9819.88 |
11/2016 | 9970 | 10232.46 | 9688.63 | 9971.01 |
12/2016 | 10153.29 | 10431.57 | 9702.3 | 10171.34 |
1/2017 | 10365.66 | 10634.28 | 9721.34 | 10372.92 |
2/2017 | 10628.59 | 11026.81 | 9786.67 | 10647.67 |
3/2017 | 10709.49 | 11035.84 | 9781.54 | 10713.38 |
4/2017 | 10840.96 | 11150.74 | 9857.03 | 10846.63 |
5/2017 | 11012.88 | 11264.14 | 9932.9 | 11012.63 |
6/2017 | 11093.78 | 11367.78 | 9922.9 | 11078.83 |
7/2017 | 11306.15 | 11582.65 | 9965.6 | 11301.58 |
8/2017 | 11336.49 | 11603.76 | 10054.99 | 11332.57 |
9/2017 | 11548.86 | 11886.96 | 10007.1 | 11540.74 |
10/2017 | 11730.89 | 12144.69 | 10012.89 | 11733.17 |
11/2017 | 11953.37 | 12512.85 | 10000.04 | 11967.33 |
12/2017 | 12093.71 | 12639.13 | 10045.94 | 12109.43 |
1/2018 | 12575.81 | 13309.77 | 9930.24 | 12592.55 |
2/2018 | 12093.71 | 12816.75 | 9836.11 | 12135.47 |
3/2018 | 11991.13 | 12562.72 | 9899.18 | 11984.48 |
4/2018 | 12032.16 | 12607.52 | 9825.56 | 12056.53 |
5/2018 | 12165.51 | 12963.68 | 9895.68 | 12180.91 |
6/2018 | 12155.25 | 13049.31 | 9883.51 | 12176.13 |
7/2018 | 12462.98 | 13485.81 | 9885.86 | 12471.92 |
8/2018 | 12616.84 | 13954.64 | 9949.47 | 12647.19 |
9/2018 | 12627.1 | 13976.7 | 9885.4 | 12651.01 |
10/2018 | 11837.27 | 12941.4 | 9807.28 | 11858.01 |
11/2018 | 12021.9 | 13200.73 | 9865.83 | 12043.85 |
12/2018 | 11292.41 | 11969.71 | 10047.08 | 11309.43 |
1/2019 | 12078.79 | 13000.42 | 10153.77 | 12112.33 |
2/2019 | 12361.89 | 13456.9 | 10147.89 | 12393.98 |
3/2019 | 12529.65 | 13650.32 | 10342.75 | 12555.93 |
4/2019 | 12875.66 | 14193.97 | 10345.4 | 12896.71 |
5/2019 | 12298.98 | 13277.77 | 10529.04 | 12330.33 |
6/2019 | 12959.54 | 14208.38 | 10661.27 | 12994.62 |
7/2019 | 13001.48 | 14416.88 | 10684.72 | 13061.09 |
8/2019 | 12854.69 | 14126.26 | 10961.58 | 12892.18 |
9/2019 | 13074.87 | 14369.88 | 10903.2 | 13102.39 |
10/2019 | 13357.97 | 14674.71 | 10936.04 | 13382.34 |
11/2019 | 13630.58 | 15230.12 | 10930.47 | 13662.12 |
12/2019 | 13961.58 | 15668.34 | 10922.85 | 14009.11 |
1/2020 | 13865.37 | 15649.18 | 11133.06 | 13943.84 |
2/2020 | 13074.29 | 14367.77 | 11333.44 | 13076.35 |
3/2020 | 11502.81 | 12384.13 | 11266.74 | 11551.85 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2040 Index Fund (8/25/16) | -8.20% | 2.41% | 3.97% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2040 Passive Composite Index | -8.00% | 2.54% | 4.09% |
Fund Category: Morningstar Target-Date 20403 | -9.31% | 1.59% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 10 |
Portfolio Turnover Rate | 7% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img2405fa4f19.jpg)
Value | Override | |
Stocks - U.S. | 48.9 | |
Stocks - International | 27 | |
Fixed Income | 18.5 | |
Real Assets | 4.1 | |
Short-Term Investments | 1 | |
Money Market Fund | 0.5 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgf2b2997a20.jpg)
Schwab U.S. Large-Cap ETF | 44 | |
Schwab International Equity ETF | 21.9 | |
Schwab U.S. Aggregate Bond ETF | 17.5 | |
Schwab Emerging Markets Equity ETF | 5 | |
Schwab U.S. Small-Cap ETF | 4.9 | |
Schwab U.S. REIT ETF | 4.1 | |
Schwab Short-Term U.S. Treasury ETF | 0.9 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 0.5 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | Percentages may not add up to 100% due to rounding. |
2 | Total return for the report period above differs from the return in the Financial Highlights. The total return presented above is calculated based on the net asset value (NAV) at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semiannual reports. |
3 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2ms8.jpg)
Schwab Target 2045 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2045 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9970 | 9999.25 | 10005.71 | 9973.94 |
9/2016 | 10010 | 10017.12 | 9999.85 | 10010.64 |
10/2016 | 9810 | 9797.4 | 9923.36 | 9814.36 |
11/2016 | 9980 | 10232.46 | 9688.63 | 9980.03 |
12/2016 | 10164.99 | 10431.57 | 9702.3 | 10189.56 |
1/2017 | 10397.39 | 10634.28 | 9721.34 | 10400.48 |
2/2017 | 10660.1 | 11026.81 | 9786.67 | 10686.27 |
3/2017 | 10751.04 | 11035.84 | 9781.54 | 10756.49 |
4/2017 | 10882.4 | 11150.74 | 9857.03 | 10893.78 |
5/2017 | 11054.17 | 11264.14 | 9932.9 | 11064.72 |
6/2017 | 11145.11 | 11367.78 | 9922.9 | 11136.07 |
7/2017 | 11377.51 | 11582.65 | 9965.6 | 11370.69 |
8/2017 | 11397.72 | 11603.76 | 10054.99 | 11399.04 |
9/2017 | 11620.02 | 11886.96 | 10007.1 | 11621.99 |
10/2017 | 11822.11 | 12144.69 | 10012.89 | 11824.88 |
11/2017 | 12054.51 | 12512.85 | 10000.04 | 12072.94 |
12/2017 | 12205.18 | 12639.13 | 10045.94 | 12222.1 |
1/2018 | 12717.57 | 13309.77 | 9930.24 | 12740.86 |
2/2018 | 12205.18 | 12816.75 | 9836.11 | 12255.69 |
3/2018 | 12102.7 | 12562.72 | 9899.18 | 12090.55 |
4/2018 | 12133.44 | 12607.52 | 9825.56 | 12171.79 |
5/2018 | 12276.91 | 12963.68 | 9895.68 | 12297.33 |
6/2018 | 12266.66 | 13049.31 | 9883.51 | 12289.77 |
7/2018 | 12584.35 | 13485.81 | 9885.86 | 12605.41 |
8/2018 | 12748.31 | 13954.64 | 9949.47 | 12784.86 |
9/2018 | 12768.81 | 13976.7 | 9885.4 | 12791.34 |
10/2018 | 11907.99 | 12941.4 | 9807.28 | 11943.65 |
11/2018 | 12112.95 | 13200.73 | 9865.83 | 12139.32 |
12/2018 | 11316.43 | 11969.71 | 10047.08 | 11344.91 |
1/2019 | 12165.16 | 13000.42 | 10153.77 | 12194.44 |
2/2019 | 12458.55 | 13456.9 | 10147.89 | 12496.75 |
3/2019 | 12626.2 | 13650.32 | 10342.75 | 12654.97 |
4/2019 | 12992.94 | 14193.97 | 10345.4 | 13020.55 |
5/2019 | 12364.25 | 13277.77 | 10529.04 | 12394.18 |
6/2019 | 13066.29 | 14208.38 | 10661.27 | 13097.9 |
7/2019 | 13097.72 | 14416.88 | 10684.72 | 13166.02 |
8/2019 | 12919.59 | 14126.26 | 10961.58 | 12959.82 |
9/2019 | 13160.59 | 14369.88 | 10903.2 | 13189.26 |
10/2019 | 13464.46 | 14674.71 | 10936.04 | 13489.66 |
11/2019 | 13757.85 | 15230.12 | 10930.47 | 13789.01 |
12/2019 | 14124.04 | 15668.34 | 10922.85 | 14167.21 |
1/2020 | 13995.84 | 15649.18 | 11133.06 | 14074.62 |
2/2020 | 13109.08 | 14367.77 | 11333.44 | 13112.79 |
3/2020 | 11421.03 | 12384.13 | 11266.74 | 11458.14 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2045 Index Fund (8/25/16) | -9.55%3 | 2.04% | 3.76% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2045 Passive Composite Index | -9.46% | 2.13% | 3.86% |
Fund Category: Morningstar Target-Date 20454 | -10.36% | 1.37% | N/A |
Fund Expense Ratios5: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Total return for the report period presented in the table differs from the return in the Financial Highlights. The total return presented in the above table is calculated based on the net asset value (NAV) at which shareholder transactions were processed. The total return presented in the Financial Highlights section of the report is calculated in the same manner, but also takes into account certain adjustments that are necessary under generally accepted accounting principles required in the annual and semiannual reports. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 10 |
Portfolio Turnover Rate | 6% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgde7ccdcf21.jpg)
Value | Override | |
Stocks - U.S. | 52.1 | |
Stocks - International | 29.8 | |
Fixed Income | 12.5 | |
Real Assets | 4.4 | |
Short-Term Investments | 1.2 | |
Money Market Fund{3} | 0 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img6749bd5722.jpg)
Schwab U.S. Large-Cap ETF | 46.5 | |
Schwab International Equity ETF | 23.8 | |
Schwab U.S. Aggregate Bond ETF | 11.9 | |
Schwab Emerging Markets Equity ETF | 6 | |
Schwab U.S. Small-Cap ETF | 5.7 | |
Schwab U.S. REIT ETF | 4.4 | |
Schwab Short-Term U.S. Treasury ETF | 0.6 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 0{3} |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | Less than 0.05%. |
4 | This list is not a recommendation of any security by the investment adviser. |
5 | The holdings listed exclude any temporary liquidity investments. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2ms9.jpg)
Schwab Target 2050 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2050 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9970 | 9999.25 | 10005.71 | 9972.86 |
9/2016 | 10020 | 10017.12 | 9999.85 | 10010.97 |
10/2016 | 9810 | 9797.4 | 9923.36 | 9810.91 |
11/2016 | 9980 | 10232.46 | 9688.63 | 9985.69 |
12/2016 | 10182.98 | 10431.57 | 9702.3 | 10201.11 |
1/2017 | 10405.67 | 10634.28 | 9721.34 | 10418.09 |
2/2017 | 10678.97 | 11026.81 | 9786.67 | 10710.41 |
3/2017 | 10780.19 | 11035.84 | 9781.54 | 10783.44 |
4/2017 | 10911.78 | 11150.74 | 9857.03 | 10923.18 |
5/2017 | 11083.86 | 11264.14 | 9932.9 | 11097.03 |
6/2017 | 11174.96 | 11367.78 | 9922.9 | 11171.49 |
7/2017 | 11407.77 | 11582.65 | 9965.6 | 11413.37 |
8/2017 | 11438.14 | 11603.76 | 10054.99 | 11440.19 |
9/2017 | 11660.83 | 11886.96 | 10007.1 | 11672.02 |
10/2017 | 11873.39 | 12144.69 | 10012.89 | 11881.22 |
11/2017 | 12116.33 | 12512.85 | 10000.04 | 12137.57 |
12/2017 | 12268.48 | 12639.13 | 10045.94 | 12291.07 |
1/2018 | 12802.34 | 13309.77 | 9930.24 | 12831.56 |
2/2018 | 12268.48 | 12816.75 | 9836.11 | 12329.9 |
3/2018 | 12165.81 | 12562.72 | 9899.18 | 12156.59 |
4/2018 | 12206.88 | 12607.52 | 9825.56 | 12243.15 |
5/2018 | 12340.34 | 12963.68 | 9895.68 | 12369.26 |
6/2018 | 12330.08 | 13049.31 | 9883.51 | 12359.94 |
7/2018 | 12668.87 | 13485.81 | 9885.86 | 12687.12 |
8/2018 | 12833.14 | 13954.64 | 9949.47 | 12868.79 |
9/2018 | 12843.4 | 13976.7 | 9885.4 | 12876.72 |
10/2018 | 11960.48 | 12941.4 | 9807.28 | 11997.04 |
11/2018 | 12176.08 | 13200.73 | 9865.83 | 12198.54 |
12/2018 | 11337.92 | 11969.71 | 10047.08 | 11369.36 |
1/2019 | 12208.45 | 13000.42 | 10153.77 | 12245.97 |
2/2019 | 12523.11 | 13456.9 | 10147.89 | 12559.98 |
3/2019 | 12680.43 | 13650.32 | 10342.75 | 12715.99 |
4/2019 | 13068.5 | 14193.97 | 10345.4 | 13095.67 |
5/2019 | 12397.24 | 13277.77 | 10529.04 | 12434.92 |
6/2019 | 13120.94 | 14208.38 | 10661.27 | 13161.04 |
7/2019 | 13162.89 | 14416.88 | 10684.72 | 13229.94 |
8/2019 | 12963.62 | 14126.26 | 10961.58 | 13002.23 |
9/2019 | 13215.34 | 14369.88 | 10903.2 | 13242.6 |
10/2019 | 13519.5 | 14674.71 | 10936.04 | 13554.8 |
11/2019 | 13823.66 | 15230.12 | 10930.47 | 13865.11 |
12/2019 | 14212.66 | 15668.34 | 10922.85 | 14261.42 |
1/2020 | 14062.94 | 15649.18 | 11133.06 | 14152.78 |
2/2020 | 13132.54 | 14367.77 | 11333.44 | 13137.23 |
3/2020 | 11367.99 | 12384.13 | 11266.74 | 11408.51 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2050 Index Fund (8/25/16) | -10.35% | 1.79% | 3.63% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2050 Passive Composite Index | -10.28% | 1.90% | 3.73% |
Fund Category: Morningstar Target-Date 20503 | -10.82% | 1.17% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 10 |
Portfolio Turnover Rate | 3% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img7dbe212323.jpg)
Value | Override | |
Stocks - U.S. | 53.8 | |
Stocks - International | 31.3 | |
Fixed Income | 9.2 | |
Real Assets | 4.6 | |
Short-Term Investments | 1.1 | |
Money Market Fund{3} | 0 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img537a591124.jpg)
Schwab U.S. Large-Cap ETF | 47.8 | |
Schwab International Equity ETF | 24.8 | |
Schwab U.S. Aggregate Bond ETF | 8.8 | |
Schwab Emerging Markets Equity ETF | 6.6 | |
Schwab U.S. Small-Cap ETF | 6.2 | |
Schwab U.S. REIT ETF | 4.6 | |
Schwab Short-Term U.S. Treasury ETF | 0.4 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 0{3} |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | Less than 0.05%. |
4 | This list is not a recommendation of any security by the investment adviser. |
5 | The holdings listed exclude any temporary liquidity investments. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2mv1.jpg)
Schwab Target 2055 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2055 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9970 | 9999.25 | 10005.71 | 9971.83 |
9/2016 | 10020 | 10017.12 | 9999.85 | 10011.29 |
10/2016 | 9810 | 9797.4 | 9923.36 | 9807.55 |
11/2016 | 9990 | 10232.46 | 9688.63 | 9991.31 |
12/2016 | 10195.25 | 10431.57 | 9702.3 | 10212.43 |
1/2017 | 10428.11 | 10634.28 | 9721.34 | 10435.29 |
2/2017 | 10711.59 | 11026.81 | 9786.67 | 10733.65 |
3/2017 | 10802.71 | 11035.84 | 9781.54 | 10809.34 |
4/2017 | 10944.45 | 11150.74 | 9857.03 | 10951.38 |
5/2017 | 11116.57 | 11264.14 | 9932.9 | 11127.94 |
6/2017 | 11207.69 | 11367.78 | 9922.9 | 11205.34 |
7/2017 | 11450.67 | 11582.65 | 9965.6 | 11454.02 |
8/2017 | 11481.05 | 11603.76 | 10054.99 | 11479.39 |
9/2017 | 11713.91 | 11886.96 | 10007.1 | 11719.62 |
10/2017 | 11926.52 | 12144.69 | 10012.89 | 11934.71 |
11/2017 | 12179.63 | 12512.85 | 10000.04 | 12198.8 |
12/2017 | 12337.23 | 12639.13 | 10045.94 | 12356.38 |
1/2018 | 12902.21 | 13309.77 | 9930.24 | 12917.28 |
2/2018 | 12347.5 | 12816.75 | 9836.11 | 12400.92 |
3/2018 | 12234.5 | 12562.72 | 9899.18 | 12220.41 |
4/2018 | 12275.59 | 12607.52 | 9825.56 | 12311.67 |
5/2018 | 12419.41 | 12963.68 | 9895.68 | 12438.19 |
6/2018 | 12398.86 | 13049.31 | 9883.51 | 12427.2 |
7/2018 | 12748.12 | 13485.81 | 9885.86 | 12764.55 |
8/2018 | 12912.48 | 13954.64 | 9949.47 | 12948.07 |
9/2018 | 12933.03 | 13976.7 | 9885.4 | 12957.21 |
10/2018 | 12018.78 | 12941.4 | 9807.28 | 12049.12 |
11/2018 | 12234.5 | 13200.73 | 9865.83 | 12255.8 |
12/2018 | 11367.31 | 11969.71 | 10047.08 | 11396.1 |
1/2019 | 12269.97 | 13000.42 | 10153.77 | 12296.63 |
2/2019 | 12584.86 | 13456.9 | 10147.89 | 12620.07 |
3/2019 | 12742.3 | 13650.32 | 10342.75 | 12774.37 |
4/2019 | 13141.15 | 14193.97 | 10345.4 | 13165.44 |
5/2019 | 12448.41 | 13277.77 | 10529.04 | 12476.96 |
6/2019 | 13183.14 | 14208.38 | 10661.27 | 13221.24 |
7/2019 | 13225.12 | 14416.88 | 10684.72 | 13290.74 |
8/2019 | 13004.7 | 14126.26 | 10961.58 | 13045.72 |
9/2019 | 13267.1 | 14369.88 | 10903.2 | 13294.88 |
10/2019 | 13592.48 | 14674.71 | 10936.04 | 13616.69 |
11/2019 | 13907.37 | 15230.12 | 10930.47 | 13935.78 |
12/2019 | 14299.18 | 15668.34 | 10922.85 | 14346.82 |
1/2020 | 14138.63 | 15649.18 | 11133.06 | 14225.18 |
2/2020 | 13175.36 | 14367.77 | 11333.44 | 13170.62 |
3/2020 | 11345.15 | 12384.13 | 11266.74 | 11387.78 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2055 Index Fund (8/25/16) | -10.96% | 1.65% | 3.57% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2055 Passive Composite Index | -10.85% | 1.75% | 3.68% |
Fund Category: Morningstar Target-Date 20553 | -11.02% | 1.19% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 9 |
Portfolio Turnover Rate | 3% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img9b6a593225.jpg)
Value | Override | |
Stocks - U.S. | 55.2 | |
Stocks - International | 32.6 | |
Fixed Income | 6.8 | |
Real Assets | 4.8 | |
Short-Term Investment | 0.5 | |
Money Market Fund | 0.1 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img63419f6726.jpg)
Schwab U.S. Large-Cap ETF | 48.7 | |
Schwab International Equity ETF | 25.5 | |
Schwab Emerging Markets Equity ETF | 7.1 | |
Schwab U.S. Aggregate Bond ETF | 6.5 | |
Schwab U.S. Small-Cap ETF | 6.4 | |
Schwab U.S. REIT ETF | 4.7 | |
Schwab Short-Term U.S. Treasury ETF | 0.3 | |
Schwab Variable Share Price Money Fund, Ultra Shares | 0.1 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
1 | ETF performance can be expressed on a market price or NAV basis. The returns cited in this section are Market Price Returns. The ETF’s per share NAV is the value of one share of the ETF. NAV is calculated by taking the ETF’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the ETF, and the Market Price Return is based on the market price per share of the ETF. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time). 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 ETF at Market Price and NAV, respectively. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/lg_2mv2.jpg)
Schwab Target 2060 Index Fund|10000| | Fund | Dow Jones U.S. Total Stock Market Index{SM} | Bloomberg Barclays US Aggregate Bond Index | Target 2060 Passive Composite Index |
Start Date | 8/25/2016 | End Date | 3/31/2020 | |
7/2016 | 10000 | 10000 | 10000 | 10000 |
8/2016 | 9970 | 9999.25 | 10005.71 | 9971.61 |
9/2016 | 10020 | 10017.12 | 9999.85 | 10011.35 |
10/2016 | 9810 | 9797.4 | 9923.36 | 9806.9 |
11/2016 | 9990 | 10232.46 | 9688.63 | 9992.44 |
12/2016 | 10193.65 | 10431.57 | 9702.3 | 10214.69 |
1/2017 | 10436.6 | 10634.28 | 9721.34 | 10438.74 |
2/2017 | 10720.04 | 11026.81 | 9786.67 | 10739.49 |
3/2017 | 10811.14 | 11035.84 | 9781.54 | 10816.2 |
4/2017 | 10952.86 | 11150.74 | 9857.03 | 10959.09 |
5/2017 | 11124.95 | 11264.14 | 9932.9 | 11136.69 |
6/2017 | 11216.06 | 11367.78 | 9922.9 | 11215.22 |
7/2017 | 11469.13 | 11582.65 | 9965.6 | 11466.56 |
8/2017 | 11489.37 | 11603.76 | 10054.99 | 11491.36 |
9/2017 | 11732.32 | 11886.96 | 10007.1 | 11734.81 |
10/2017 | 11944.9 | 12144.69 | 10012.89 | 11952.24 |
11/2017 | 12197.97 | 12512.85 | 10000.04 | 12219.37 |
12/2017 | 12353.72 | 12639.13 | 10045.94 | 12378.56 |
1/2018 | 12928.79 | 13309.77 | 9930.24 | 12947.57 |
2/2018 | 12363.99 | 12816.75 | 9836.11 | 12423.22 |
3/2018 | 12240.76 | 12562.72 | 9899.18 | 12238.58 |
4/2018 | 12281.84 | 12607.52 | 9825.56 | 12332.51 |
5/2018 | 12425.61 | 12963.68 | 9895.68 | 12458.88 |
6/2018 | 12405.07 | 13049.31 | 9883.51 | 12446.78 |
7/2018 | 12764.49 | 13485.81 | 9885.86 | 12789.73 |
8/2018 | 12928.79 | 13954.64 | 9949.47 | 12973.88 |
9/2018 | 12939.06 | 13976.7 | 9885.4 | 12983.78 |
10/2018 | 12025.11 | 12941.4 | 9807.28 | 12060.05 |
11/2018 | 12240.76 | 13200.73 | 9865.83 | 12269.51 |
12/2018 | 11362.55 | 11969.71 | 10047.08 | 11393.01 |
1/2019 | 12275.33 | 13000.42 | 10153.77 | 12306.32 |
2/2019 | 12600.57 | 13456.9 | 10147.89 | 12636.48 |
3/2019 | 12757.95 | 13650.32 | 10342.75 | 12788.99 |
4/2019 | 13156.64 | 14193.97 | 10345.4 | 13188.2 |
5/2019 | 12443.2 | 13277.77 | 10529.04 | 12479.12 |
6/2019 | 13198.6 | 14208.38 | 10661.27 | 13236.05 |
7/2019 | 13230.08 | 14416.88 | 10684.72 | 13305.8 |
8/2019 | 12999.26 | 14126.26 | 10961.58 | 13047.41 |
9/2019 | 13272.05 | 14369.88 | 10903.2 | 13302.98 |
10/2019 | 13597.29 | 14674.71 | 10936.04 | 13631.73 |
11/2019 | 13922.53 | 15230.12 | 10930.47 | 13957 |
12/2019 | 14329.4 | 15668.34 | 10922.85 | 14378.94 |
1/2020 | 14147.48 | 15649.18 | 11133.06 | 14246.98 |
2/2020 | 13152.23 | 14367.77 | 11333.44 | 13157 |
3/2020 | 11290.16 | 12384.13 | 11266.74 | 11326.2 |
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Schwab Target 2060 Index Fund (8/25/16) | -11.50% | 1.46% | 3.43% |
Dow Jones U.S. Total Stock Market IndexSM | -9.28% | 3.92% | 6.12% |
Bloomberg Barclays US Aggregate Bond Index | 8.93% | 4.82% | 3.37% |
Target 2060 Passive Composite Index | -11.44% | 1.55% | 3.52% |
Fund Category: Morningstar Target-Date 2060+3 | -11.12% | 1.31% | N/A |
Fund Expense Ratios4: Net 0.08%; Gross 0.13% |
1 | Fund expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On July 24, 2017, the Investor Share class and Institutional Share class of the fund were consolidated into a single class of shares of the fund. Accordingly, the performance history of the fund, prior to July 24, 2017, is that of the fund’s former Institutional Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Includes 0.05% of acquired fund fees and expenses (AFFE), which are indirect expenses incurred by the fund through its investments in the underlying funds. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual expense ratios during the period, not including AFFE, refer to the financial highlights section of the financial statements. |
Number of Holdings | 8 |
Portfolio Turnover Rate | 4% |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imgfb7a577127.jpg)
Value | Override | |
Stocks - U.S. | 56.4 | |
Stocks - International | 33.8 | |
Real Assets | 4.9 | |
Fixed Income | 4.5 | |
Short-Term Investment | 0.4 |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/img735a671028.jpg)
Schwab U.S. Large-Cap ETF | 49.5 | |
Schwab International Equity ETF | 26.3 | |
Schwab Emerging Markets Equity ETF | 7.5 | |
Schwab U.S. Small-Cap ETF | 6.8 | |
Schwab U.S. REIT ETF | 4.9 | |
Schwab U.S. Aggregate Bond ETF | 4.3 | |
Schwab Short-Term U.S. Treasury ETF | 0.2 |
1 | 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. |
2 | The fund intends to primarily invest in affiliated Schwab ETFs and may also invest in affiliated Schwab and Laudus mutual funds and unaffiliated third party ETFs and mutual funds (all such ETFs and mutual funds referred to as “underlying funds”). |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The holdings listed exclude any temporary liquidity investments. |
Expense Ratio (Annualized)1,2 | Effective Expense Ratio (Annualized)3,4 | Beginning Account Value at 10/1/19 | Ending Account Value (Net of Expenses) at 3/31/202 | Expenses Paid During Period 10/1/19-3/31/202,5 | Effective Expenses Paid During Period 10/1/19-3/31/204,5 | |
Schwab Target 2010 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $960.80 | $0.15 | $0.39 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2015 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $956.90 | $0.15 | $0.39 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2020 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $954.00 | $0.15 | $0.39 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2025 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $928.10 | $0.14 | $0.39 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2030 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $908.80 | $0.14 | $0.38 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2035 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $892.80 | $0.14 | $0.38 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2040 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $879.80 | $0.14 | $0.38 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2045 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $867.00 | $0.14 | $0.37 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2050 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $860.20 | $0.14 | $0.37 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2055 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $855.10 | $0.14 | $0.37 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
Schwab Target 2060 Index Fund | ||||||
Actual Return | 0.03% | 0.08% | $1,000.00 | $850.70 | $0.14 | $0.37 |
Hypothetical 5% Return | 0.03% | 0.08% | $1,000.00 | $1,024.85 | $0.15 | $0.40 |
1 | Based on the most recent six-month expense ratio. |
2 | Excludes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
3 | Based on the most recent six-month acquired fund fees and expense ratio; may differ from the acquired fund fees and expenses ratios in the prospectus. |
4 | Includes acquired fund fees and expenses, which are indirect expenses incurred by the fund through its investments in underlying funds. |
5 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 183 days of the period, and divided by the 366 days of the fiscal year. |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $10.88 | $10.59 | $10.15 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.27 | 0.27 | 0.22 | 0.12 | ||
Net realized and unrealized gains (losses) | (0.19) | 0.23 | 0.34 | 0.10 | ||
Total from investment operations | 0.08 | 0.50 | 0.56 | 0.22 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.25) | (0.20) | (0.12) | (0.07) | ||
Distributions from net realized gains | (0.01) | (0.01) | (0.00)4 | — | ||
Total distributions | (0.26) | (0.21) | (0.12) | (0.07) | ||
Net asset value at end of period | $10.70 | $10.88 | $10.59 | $10.15 | ||
Total return | 0.58% | 4.81% | 5.57% | 2.26%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.03% | 0.02%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.43% | 2.53% | 2.11% | 1.99%7 | ||
Portfolio turnover rate | 19% | 30% | 28% | 2%5 | ||
Net assets, end of period (x 1,000) | $35,614 | $25,391 | $14,185 | $955 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.9% of net assets | ||
U.S. Stocks 24.0% | ||
Large-Cap 22.6% | ||
Schwab U.S. Large-Cap ETF | 131,264 | 8,039,920 |
Small-Cap 1.4% | ||
Schwab U.S. Small-Cap ETF | 9,946 | 512,418 |
8,552,338 | ||
International Stocks 9.4% | ||
Developed-Market Large-Cap 9.4% | ||
Schwab International Equity ETF | 129,453 | 3,345,065 |
Real Assets 1.8% | ||
Real Estate 1.8% | ||
Schwab U.S. REIT ETF | 19,686 | 644,520 |
Fixed Income 59.9% | ||
Inflation-Protected Bond 6.5% | ||
Schwab U.S. TIPS ETF | 40,445 | 2,325,992 |
Intermediate-Term Bond 44.5% | ||
Schwab U.S. Aggregate Bond ETF | 292,293 | 15,862,741 |
Treasury Bond 8.9% | ||
Schwab Short-Term U.S. Treasury ETF | 60,893 | 3,149,995 |
21,338,728 | ||
Money Market Fund 3.8% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 1,340,391 | 1,340,257 |
Total Affiliated Underlying Funds | ||
(Cost $35,252,407) | 35,220,908 |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 3.6% of net assets | ||
Time Deposits 3.6% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.15%, 04/01/20 (b) | 236,538 | 236,538 |
ING Bank | ||
0.15%, 04/01/20 (b) | 348,912 | 348,912 |
JPMorgan Chase Bank | ||
0.15%, 04/01/20 (b) | 348,912 | 348,912 |
Sumitomo Mitsui Trust Bank, Limited | ||
0.15%, 04/01/20 (b) | 348,912 | 348,912 |
Total Short-Term Investments | ||
(Cost $1,283,274) | 1,283,274 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
TIPS — | Treasury Inflation Protected Securities |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab International Equity ETF | $2,447,096 | $1,773,253 | ($253,922) | ($37,193) | ($584,169) | $3,345,065 | 129,453 | $89,899 |
Schwab Short-Term U.S. Treasury ETF | 2,213,630 | 1,229,970 | (384,637) | 2,981 | 88,051 | 3,149,995 | 60,893 | 57,246 |
Schwab U.S. Aggregate Bond ETF | 10,633,480 | 7,240,767 | (2,559,899) | (4,562) | 552,955 | 15,862,741 | 292,293 | 352,175 |
Schwab U.S. Large-Cap ETF | 5,892,888 | 4,225,946 | (1,233,490) | (52,308) | (793,116) | 8,039,920 | 131,264 | 148,452 |
Schwab U.S. REIT ETF | 459,317 | 397,865 | (35,080) | 429 | (178,011) | 644,520 | 19,686 | 16,025 |
Schwab U.S. Small-Cap ETF | 353,566 | 355,010 | (51,286) | (17,076) | (127,796) | 512,418 | 9,946 | 7,215 |
Schwab U.S. TIPS ETF | 1,629,155 | 772,893 | (160,285) | 1,482 | 82,747 | 2,325,992 | 40,445 | 37,962 |
Schwab Variable Share Price Money Fund, Ultra Shares | 1,518,757 | 821,814 | (1,000,000) | 283 | (597) | 1,340,257 | 1,340,391 | 35,691 |
Total | $25,147,889 | $16,817,518 | ($5,678,599) | ($105,964) | ($959,936) | $35,220,908 | $744,665 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $35,220,908 | $— | $— | $35,220,908 | |
Short-Term Investments1 | — | 1,283,274 | — | 1,283,274 | |
Total | $35,220,908 | $1,283,274 | $— | $36,504,182 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $35,252,407) | $35,220,908 | |
Investments in unaffiliated issuers, at value (cost $1,283,274) | 1,283,274 | |
Receivables: | ||
Investments sold | 661,957 | |
Fund shares sold | 123,936 | |
Dividends | + | 608 |
Total assets | 37,290,683 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,675,185 | |
Investment adviser fees | 919 | |
Fund shares redeemed | + | 775 |
Total liabilities | 1,676,879 | |
Net Assets | ||
Total assets | 37,290,683 | |
Total liabilities | – | 1,676,879 |
Net assets | $35,613,804 | |
Net Assets by Source | ||
Capital received from investors | 35,834,254 | |
Total distributable loss | (220,450) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$35,613,804 | 3,329,252 | $10.70 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $744,662 | |
Interest | + | 2,667 |
Total investment income | 747,329 | |
Expenses | ||
Investment adviser fees | + | 24,283 |
Total expenses | 24,283 | |
Expense reduction by CSIM and its affiliates | – | 15,524 |
Net expenses | – | 8,759 |
Net investment income | 738,570 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 3 | |
Net realized losses on sales of affiliated underlying funds | + | (105,964) |
Net realized losses | (105,961) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (959,936) |
Net realized and unrealized losses | (1,065,897) | |
Decrease in net assets resulting from operations | ($327,327) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $738,570 | $472,155 | ||
Net realized losses | (105,961) | (142,716) | ||
Net change in unrealized appreciation (depreciation) | + | (959,936) | 745,043 | |
Increase (decrease) in net assets from operations | (327,327) | 1,074,482 | ||
Distributions to Shareholders | ||||
Total distributions | ($743,254) | ($441,923) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 1,744,332 | $19,661,588 | 1,576,468 | $16,790,499 | ||||
Shares reinvested | 60,876 | 698,243 | 41,815 | 426,508 | ||||
Shares redeemed | + | (808,805) | (9,065,956) | (624,853) | (6,643,659) | |||
Net transactions in fund shares | 996,403 | $11,293,875 | 993,430 | $10,573,348 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 2,332,849 | $25,390,510 | 1,339,419 | $14,184,603 | ||||
Total increase | + | 996,403 | 10,223,294 | 993,430 | 11,205,907 | |||
End of period | 3,329,252 | $35,613,804 | 2,332,849 | $25,390,510 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $10.92 | $10.61 | $10.17 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.28 | 0.27 | 0.22 | 0.13 | ||
Net realized and unrealized gains (losses) | (0.26) | 0.22 | 0.38 | 0.12 | ||
Total from investment operations | 0.02 | 0.49 | 0.60 | 0.25 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.25) | (0.17) | (0.15) | (0.08) | ||
Distributions from net realized gains | (0.01) | (0.01) | (0.01) | — | ||
Total distributions | (0.26) | (0.18) | (0.16) | (0.08) | ||
Net asset value at end of period | $10.68 | $10.92 | $10.61 | $10.17 | ||
Total return | (0.02%) | 4.74% | 5.83% | 2.49%4 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses5 | 0.03% | 0.03% | 0.03% | 0.02%6 | ||
Gross operating expenses5 | 0.08% | 0.08% | 0.08% | 0.08%6 | ||
Net investment income (loss) | 2.45% | 2.54% | 2.06% | 2.15%6 | ||
Portfolio turnover rate | 24% | 29% | 47% | 15%4 | ||
Net assets, end of period (x 1,000) | $57,790 | $45,688 | $20,229 | $797 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.7% of net assets | ||
U.S. Stocks 25.7% | ||
Large-Cap 24.1% | ||
Schwab U.S. Large-Cap ETF | 227,196 | 13,915,755 |
Small-Cap 1.6% | ||
Schwab U.S. Small-Cap ETF | 17,818 | 917,983 |
14,833,738 | ||
International Stocks 10.5% | ||
Developed-Market Large-Cap 10.5% | ||
Schwab International Equity ETF | 234,992 | 6,072,193 |
Real Assets 1.9% | ||
Real Estate 1.9% | ||
Schwab U.S. REIT ETF | 34,588 | 1,132,411 |
Fixed Income 57.6% | ||
Inflation-Protected Bond 6.2% | ||
Schwab U.S. TIPS ETF | 62,389 | 3,587,991 |
Intermediate-Term Bond 43.1% | ||
Schwab U.S. Aggregate Bond ETF | 458,458 | 24,880,516 |
Treasury Bond 8.3% | ||
Schwab Short-Term U.S. Treasury ETF | 92,883 | 4,804,838 |
33,273,345 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 3.0% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 1,713,099 | 1,712,928 |
Total Affiliated Underlying Funds | ||
(Cost $57,418,815) | 57,024,615 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.7% of net assets | ||
Time Deposits 1.7% | ||
JPMorgan Chase Bank | ||
0.15%, 04/01/20 (b) | 411,426 | 411,426 |
Sumitomo Mitsui Trust Bank, Limited | ||
0.15%, 04/01/20 (b) | 580,576 | 580,576 |
Total Short-Term Investments | ||
(Cost $992,002) | 992,002 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
TIPS — | Treasury Inflation Protected Securities |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab International Equity ETF | $4,859,406 | $2,758,241 | ($341,427) | ($45,987) | ($1,158,040) | $6,072,193 | 234,992 | $173,909 |
Schwab Short-Term U.S. Treasury ETF | 3,750,598 | 1,775,254 | (866,021) | 11,487 | 133,520 | 4,804,838 | 92,883 | 91,045 |
Schwab U.S. Aggregate Bond ETF | 18,405,623 | 10,775,229 | (5,184,140) | (23,647) | 907,451 | 24,880,516 | 458,458 | 575,825 |
Schwab U.S. Large-Cap ETF | 11,163,966 | 6,350,048 | (2,042,066) | (78,048) | (1,478,145) | 13,915,755 | 227,196 | 264,473 |
Schwab U.S. REIT ETF | 874,204 | 619,016 | (33,681) | (636) | (326,492) | 1,132,411 | 34,588 | 29,018 |
Schwab U.S. Small-Cap ETF | 739,580 | 457,111 | (35,625) | (2,155) | (240,928) | 917,983 | 17,818 | 13,242 |
Schwab U.S. TIPS ETF | 2,824,745 | 1,219,477 | (597,121) | 4,561 | 136,329 | 3,587,991 | 62,389 | 62,074 |
Schwab Variable Share Price Money Fund, Ultra Shares | 2,687,026 | 1,926,290 | (2,900,000) | 260 | (648) | 1,712,928 | 1,713,099 | 56,044 |
Total | $45,305,148 | $25,880,666 | ($12,000,081) | ($134,165) | ($2,026,953) | $57,024,615 | $1,265,630 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $57,024,615 | $— | $— | $57,024,615 | |
Short-Term Investments1 | — | 992,002 | — | 992,002 | |
Total | $57,024,615 | $992,002 | $— | $58,016,617 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $57,418,815) | $57,024,615 | |
Investments in unaffiliated issuers, at value (cost $992,002) | 992,002 | |
Receivables: | ||
Investments sold | 1,666,106 | |
Fund shares sold | 188,733 | |
Dividends | + | 834 |
Total assets | 59,872,290 | |
Liabilities | ||
Payables: | ||
Investments bought | 2,078,674 | |
Investment adviser fees | 1,581 | |
Fund shares redeemed | + | 1,582 |
Total liabilities | 2,081,837 | |
Net Assets | ||
Total assets | 59,872,290 | |
Total liabilities | – | 2,081,837 |
Net assets | $57,790,453 | |
Net Assets by Source | ||
Capital received from investors | 58,430,248 | |
Total distributable loss | (639,795) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$57,790,453 | 5,412,272 | $10.68 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $1,265,626 | |
Interest | + | 3,813 |
Total investment income | 1,269,439 | |
Expenses | ||
Investment adviser fees | + | 40,898 |
Total expenses | 40,898 | |
Expense reduction by CSIM and its affiliates | – | 25,787 |
Net expenses | – | 15,111 |
Net investment income | 1,254,328 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 4 | |
Net realized losses on sales of affiliated underlying funds | + | (134,165) |
Net realized losses | (134,161) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (2,026,953) |
Net realized and unrealized losses | (2,161,114) | |
Decrease in net assets resulting from operations | ($906,786) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $1,254,328 | $741,859 | ||
Net realized losses | (134,161) | (187,092) | ||
Net change in unrealized appreciation (depreciation) | + | (2,026,953) | 1,329,372 | |
Increase (decrease) in net assets from operations | (906,786) | 1,884,139 | ||
Distributions to Shareholders | ||||
Total distributions | ($1,249,697) | ($659,622) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,382,529 | $27,134,552 | 3,213,105 | $34,246,433 | ||||
Shares reinvested | 104,637 | 1,205,409 | 62,181 | 634,864 | ||||
Shares redeemed | + | (1,260,697) | (14,081,094) | (996,074) | (10,646,987) | |||
Net transactions in fund shares | 1,226,469 | $14,258,867 | 2,279,212 | $24,234,310 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 4,185,803 | $45,688,069 | 1,906,591 | $20,229,242 | ||||
Total increase | + | 1,226,469 | 12,102,384 | 2,279,212 | 25,458,827 | |||
End of period | 5,412,272 | $57,790,453 | 4,185,803 | $45,688,069 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $11.18 | $10.92 | $10.30 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.29 | 0.27 | 0.23 | 0.16 | ||
Net realized and unrealized gains (losses) | (0.29) | 0.22 | 0.52 | 0.21 | ||
Total from investment operations | 0.004 | 0.49 | 0.75 | 0.37 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.25) | (0.23) | (0.13) | (0.07) | ||
Distributions from net realized gains | (0.00)4 | (0.00)4 | (0.00)4 | — | ||
Total distributions | (0.25) | (0.23) | (0.13) | (0.07) | ||
Net asset value at end of period | $10.93 | $11.18 | $10.92 | $10.30 | ||
Total return | (0.17%) | 4.73% | 7.30% | 3.69%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.03% | 0.03%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.46% | 2.48% | 2.15% | 2.68%7 | ||
Portfolio turnover rate | 22% | 13% | 21% | 17%5 | ||
Net assets, end of period (x 1,000) | $172,353 | $129,760 | $70,841 | $5,455 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.9% of net assets | ||
U.S. Stocks 26.5% | ||
Large-Cap 24.8% | ||
Schwab U.S. Large-Cap ETF | 699,967 | 42,872,979 |
Small-Cap 1.7% | ||
Schwab U.S. Small-Cap ETF | 56,160 | 2,893,363 |
45,766,342 | ||
International Stock 11.4% | ||
Developed-Market Large-Cap 11.4% | ||
Schwab International Equity ETF | 759,322 | 19,620,881 |
Real Assets 2.1% | ||
Real Estate 2.1% | ||
Schwab U.S. REIT ETF | 108,168 | 3,541,420 |
Fixed Income 55.8% | ||
Inflation-Protected Bond 6.0% | ||
Schwab U.S. TIPS ETF | 180,035 | 10,353,813 |
Intermediate-Term Bond 41.9% | ||
Schwab U.S. Aggregate Bond ETF | 1,331,023 | 72,234,618 |
Treasury Bond 7.9% | ||
Schwab Short-Term U.S. Treasury ETF | 263,638 | 13,637,994 |
96,226,425 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 3.1% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 5,270,668 | 5,270,141 |
Total Affiliated Underlying Funds | ||
(Cost $172,874,884) | 170,425,209 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.5% of net assets | ||
Time Deposits 1.5% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.15%, 04/01/20 (b) | 1,733,557 | 1,733,557 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 04/01/20 (b) | 806,397 | 806,397 |
Total Short-Term Investments | ||
(Cost $2,539,954) | 2,539,954 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
TIPS — | Treasury Inflation Protected Securities |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $1,394,708 | $467,760 | ($1,849,521) | ($55,250) | $42,303 | $— | — | $62,004 |
Schwab International Equity ETF | 15,284,634 | 9,778,809 | (1,541,326) | (227,963) | (3,673,273) | 19,620,881 | 759,322 | 596,008 |
Schwab Short-Term U.S. Treasury ETF | 8,908,876 | 6,424,534 | (2,103,681) | 34,883 | 373,382 | 13,637,994 | 263,638 | 239,341 |
Schwab U.S. Aggregate Bond ETF | 50,216,623 | 32,240,681 | (12,924,248) | (7,440) | 2,709,002 | 72,234,618 | 1,331,023 | 1,704,125 |
Schwab U.S. Large-Cap ETF | 34,216,948 | 21,125,219 | (7,950,733) | (143,409) | (4,375,046) | 42,872,979 | 699,967 | 868,562 |
Schwab U.S. REIT ETF | 2,834,412 | 2,224,281 | (477,589) | (9,441) | (1,030,243) | 3,541,420 | 108,168 | 99,624 |
Schwab U.S. Small-Cap ETF | 2,361,676 | 1,688,707 | (374,008) | (18,304) | (764,708) | 2,893,363 | 56,160 | 45,606 |
Schwab U.S. TIPS ETF | 6,527,510 | 4,936,452 | (1,470,936) | 2,640 | 358,147 | 10,353,813 | 180,035 | 158,807 |
Schwab Variable Share Price Money Fund, Ultra Shares | 6,354,397 | 4,416,969 | (5,500,000) | 726 | (1,951) | 5,270,141 | 5,270,668 | 152,257 |
Total | $128,099,784 | $83,303,412 | ($34,192,042) | ($423,558) | ($6,362,387) | $170,425,209 | $3,926,334 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $170,425,209 | $— | $— | $170,425,209 | |
Short-Term Investments1 | — | 2,539,954 | — | 2,539,954 | |
Total | $170,425,209 | $2,539,954 | $— | $172,965,163 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $172,874,884) | $170,425,209 | |
Investments in unaffiliated issuers, at value (cost $2,539,954) | 2,539,954 | |
Receivables: | ||
Investments sold | 4,951,230 | |
Fund shares sold | 603,605 | |
Dividends | + | 2,530 |
Total assets | 178,522,528 | |
Liabilities | ||
Payables: | ||
Investments bought | 6,008,842 | |
Investment adviser fees | 4,770 | |
Fund shares redeemed | + | 156,146 |
Total liabilities | 6,169,758 | |
Net Assets | ||
Total assets | 178,522,528 | |
Total liabilities | – | 6,169,758 |
Net assets | $172,352,770 | |
Net Assets by Source | ||
Capital received from investors | 175,257,805 | |
Total distributable loss | (2,905,035) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$172,352,770 | 15,766,822 | $10.93 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $3,926,322 | |
Interest | + | 15,753 |
Total investment income | 3,942,075 | |
Expenses | ||
Investment adviser fees | + | 126,437 |
Total expenses | 126,437 | |
Expense reduction by CSIM and its affiliates | – | 79,043 |
Net expenses | – | 47,394 |
Net investment income | 3,894,681 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 12 | |
Net realized losses on sales of affiliated underlying funds | + | (423,558) |
Net realized losses | (423,546) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (6,362,387) |
Net realized and unrealized losses | (6,785,933) | |
Decrease in net assets resulting from operations | ($2,891,252) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $3,894,681 | $2,401,502 | ||
Net realized losses | (423,546) | (471,170) | ||
Net change in unrealized appreciation (depreciation) | + | (6,362,387) | 2,942,612 | |
Increase (decrease) in net assets from operations | (2,891,252) | 4,872,944 | ||
Distributions to Shareholders | ||||
Total distributions | ($3,756,760) | ($2,276,055) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 9,139,520 | $106,454,826 | 7,424,366 | $81,835,438 | ||||
Shares reinvested | 305,404 | 3,625,150 | 208,381 | 2,165,079 | ||||
Shares redeemed | + | (5,281,760) | (60,839,073) | (2,514,304) | (27,678,930) | |||
Net transactions in fund shares | 4,163,164 | $49,240,903 | 5,118,443 | $56,321,587 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 11,603,658 | $129,759,879 | 6,485,215 | $70,841,403 | ||||
Total increase | + | 4,163,164 | 42,592,891 | 5,118,443 | 58,918,476 | |||
End of period | 15,766,822 | $172,352,770 | 11,603,658 | $129,759,879 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $11.46 | $11.18 | $10.40 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.30 | 0.28 | 0.25 | 0.14 | ||
Net realized and unrealized gains (losses) | (0.61) | 0.23 | 0.68 | 0.34 | ||
Total from investment operations | (0.31) | 0.51 | 0.93 | 0.48 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.23) | (0.23) | (0.15) | (0.08) | ||
Distributions from net realized gains | (0.00)4 | (0.00)4 | (0.00)4 | — | ||
Total distributions | (0.23) | (0.23) | (0.15) | (0.08) | ||
Net asset value at end of period | $10.92 | $11.46 | $11.18 | $10.40 | ||
Total return | (2.89%) | 4.79% | 8.93% | 4.82%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.04% | 0.03%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.50% | 2.46% | 2.22% | 2.41%7 | ||
Portfolio turnover rate | 19% | 13% | 14% | 6%5 | ||
Net assets, end of period (x 1,000) | $264,880 | $154,328 | $84,235 | $1,649 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.8% of net assets | ||
U.S. Stocks 34.8% | ||
Large-Cap 32.2% | ||
Schwab U.S. Large-Cap ETF | 1,393,433 | 85,347,771 |
Small-Cap 2.6% | ||
Schwab U.S. Small-Cap ETF | 131,054 | 6,751,902 |
92,099,673 | ||
International Stocks 16.9% | ||
Developed-Market Large-Cap 14.9% | ||
Schwab International Equity ETF | 1,529,520 | 39,522,797 |
Emerging-Market 2.0% | ||
Schwab Emerging Markets Equity ETF | 250,249 | 5,177,652 |
44,700,449 | ||
Real Assets 2.8% | ||
Real Estate 2.8% | ||
Schwab U.S. REIT ETF | 226,275 | 7,408,243 |
Fixed Income 42.3% | ||
Inflation-Protected Bond 2.3% | ||
Schwab U.S. TIPS ETF | 106,980 | 6,152,420 |
Intermediate-Term Bond 35.7% | ||
Schwab U.S. Aggregate Bond ETF | 1,745,128 | 94,708,096 |
Treasury Bond 4.3% | ||
Schwab Short-Term U.S. Treasury ETF | 218,234 | 11,289,245 |
112,149,761 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 2.0% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 5,410,197 | 5,409,656 |
Total Affiliated Underlying Funds | ||
(Cost $276,830,602) | 261,767,782 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.3% of net assets | ||
Time Deposits 1.3% | ||
Barclays Capital, Inc. | ||
0.15%, 04/01/20 (b) | 702,336 | 702,336 |
Citibank | ||
0.15%, 04/01/20 (b) | 2,668,258 | 2,668,258 |
Total Short-Term Investments | ||
(Cost $3,370,594) | 3,370,594 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
TIPS — | Treasury Inflation Protected Securities |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $3,348,735 | $3,314,934 | ($283,593) | ($59,698) | ($1,142,726) | $5,177,652 | 250,249 | $174,520 |
Schwab International Equity ETF | 23,670,016 | 26,611,883 | (2,112,141) | (435,027) | (8,211,934) | 39,522,797 | 1,529,520 | 1,070,277 |
Schwab Short-Term U.S. Treasury ETF | 5,711,521 | 7,455,081 | (2,209,273) | 32,974 | 298,942 | 11,289,245 | 218,234 | 173,224 |
Schwab U.S. Aggregate Bond ETF | 51,447,736 | 62,091,871 | (21,798,296) | (96,974) | 3,063,759 | 94,708,096 | 1,745,128 | 1,947,324 |
Schwab U.S. Large-Cap ETF | 51,694,471 | 51,580,429 | (6,360,280) | (823,530) | (10,743,319) | 85,347,771 | 1,393,433 | 1,542,649 |
Schwab U.S. REIT ETF | 4,454,552 | 5,871,116 | (640,047) | (123,530) | (2,153,848) | 7,408,243 | 226,275 | 179,279 |
Schwab U.S. Small-Cap ETF | 4,061,884 | 5,259,765 | (461,949) | (121,593) | (1,986,205) | 6,751,902 | 131,054 | 94,233 |
Schwab U.S. TIPS ETF | 2,867,425 | 4,246,066 | (1,129,560) | (2,515) | 171,004 | 6,152,420 | 106,980 | 75,747 |
Schwab Variable Share Price Money Fund, Ultra Shares | 5,467,962 | 6,144,543 | (6,200,000) | (691) | (2,158) | 5,409,656 | 5,410,197 | 141,366 |
Total | $152,724,302 | $172,575,688 | ($41,195,139) | ($1,630,584) | ($20,706,485) | $261,767,782 | $5,398,619 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $261,767,782 | $— | $— | $261,767,782 | |
Short-Term Investments1 | — | 3,370,594 | — | 3,370,594 | |
Total | $261,767,782 | $3,370,594 | $— | $265,138,376 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $276,830,602) | $261,767,782 | |
Investments in unaffiliated issuers, at value (cost $3,370,594) | 3,370,594 | |
Receivables: | ||
Investments sold | 8,910,728 | |
Fund shares sold | 1,335,126 | |
Dividends | + | 3,056 |
Total assets | 275,387,286 | |
Liabilities | ||
Payables: | ||
Investments bought | 10,382,303 | |
Investment adviser fees | 7,484 | |
Fund shares redeemed | + | 117,488 |
Total liabilities | 10,507,275 | |
Net Assets | ||
Total assets | 275,387,286 | |
Total liabilities | – | 10,507,275 |
Net assets | $264,880,011 | |
Net Assets by Source | ||
Capital received from investors | 281,213,168 | |
Total distributable loss | (16,333,157) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$264,880,011 | 24,258,678 | $10.92 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $5,398,606 | |
Interest | + | 20,506 |
Total investment income | 5,419,112 | |
Expenses | ||
Investment adviser fees | + | 170,920 |
Total expenses | 170,920 | |
Expense reduction by CSIM and its affiliates | – | 102,898 |
Net expenses | – | 68,022 |
Net investment income | 5,351,090 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 13 | |
Net realized losses on sales of affiliated underlying funds | + | (1,630,584) |
Net realized losses | (1,630,571) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (20,706,485) |
Net realized and unrealized losses | (22,337,056) | |
Decrease in net assets resulting from operations | ($16,985,966) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $5,351,090 | $2,867,998 | ||
Net realized losses | (1,630,571) | (537,329) | ||
Net change in unrealized appreciation (depreciation) | + | (20,706,485) | 3,565,182 | |
Increase (decrease) in net assets from operations | (16,985,966) | 5,895,851 | ||
Distributions to Shareholders | ||||
Total distributions | ($4,882,701) | ($2,681,038) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 16,258,147 | $195,983,617 | 8,934,324 | $100,921,266 | ||||
Shares reinvested | 382,547 | 4,709,155 | 247,528 | 2,601,517 | ||||
Shares redeemed | + | (5,847,945) | (68,271,719) | (3,247,879) | (36,644,542) | |||
Net transactions in fund shares | 10,792,749 | $132,421,053 | 5,933,973 | $66,878,241 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 13,465,929 | $154,327,625 | 7,531,956 | $84,234,571 | ||||
Total increase | + | 10,792,749 | 110,552,386 | 5,933,973 | 70,093,054 | |||
End of period | 24,258,678 | $264,880,011 | 13,465,929 | $154,327,625 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $11.65 | $11.37 | $10.46 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.31 | 0.28 | 0.26 | 0.15 | ||
Net realized and unrealized gains (losses) | (0.86) | 0.24 | 0.80 | 0.41 | ||
Total from investment operations | (0.55) | 0.52 | 1.06 | 0.56 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.24) | (0.24) | (0.15) | (0.10) | ||
Distributions from net realized gains | (0.00)4 | — | (0.00)4 | — | ||
Total distributions | (0.24) | (0.24) | (0.15) | (0.10) | ||
Net asset value at end of period | $10.86 | $11.65 | $11.37 | $10.46 | ||
Total return | (4.99%) | 4.76% | 10.12% | 5.66%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.04% | 0.03%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.53% | 2.46% | 2.30% | 2.49%7 | ||
Portfolio turnover rate | 13% | 8% | 8% | 7%5 | ||
Net assets, end of period (x 1,000) | $352,969 | $201,250 | $109,554 | $3,258 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.9% of net assets | ||
U.S. Stocks 40.9% | ||
Large-Cap 37.6% | ||
Schwab U.S. Large-Cap ETF | 2,165,623 | 132,644,409 |
Small-Cap 3.3% | ||
Schwab U.S. Small-Cap ETF | 225,978 | 11,642,387 |
144,286,796 | ||
International Stocks 20.9% | ||
Developed-Market Large-Cap 17.9% | ||
Schwab International Equity ETF | 2,438,105 | 63,000,633 |
Emerging-Market 3.0% | ||
Schwab Emerging Markets Equity ETF | 516,025 | 10,676,557 |
73,677,190 | ||
Real Assets 3.3% | ||
Real Estate 3.3% | ||
Schwab U.S. REIT ETF | 360,487 | 11,802,344 |
Fixed Income 32.5% | ||
Inflation-Protected Bond 0.6% | ||
Schwab U.S. TIPS ETF | 34,559 | 1,987,488 |
Intermediate-Term Bond 29.6% | ||
Schwab U.S. Aggregate Bond ETF | 1,928,290 | 104,648,298 |
Treasury Bond 2.3% | ||
Schwab Short-Term U.S. Treasury ETF | 159,205 | 8,235,675 |
114,871,461 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 1.3% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 4,479,665 | 4,479,218 |
Total Affiliated Underlying Funds | ||
(Cost $379,665,362) | 349,117,009 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.5% of net assets | ||
Time Deposits 1.5% | ||
JPMorgan Chase Bank | ||
0.15%, 04/01/20 (b) | 1,573,907 | 1,573,907 |
Sumitomo Mitsui Trust Banking, Limited | ||
0.15%, 04/01/20 (b) | 3,548,283 | 3,548,283 |
Total Short-Term Investments | ||
(Cost $5,122,190) | 5,122,190 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
TIPS — | Treasury Inflation Protected Securities |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $6,474,175 | $7,065,789 | ($328,998) | ($61,264) | ($2,473,145) | $10,676,557 | 516,025 | $348,366 |
Schwab International Equity ETF | 36,282,310 | 41,884,186 | (1,323,728) | (93,466) | (13,748,669) | 63,000,633 | 2,438,105 | 1,695,942 |
Schwab Short-Term U.S. Treasury ETF | 4,263,189 | 5,712,108 | (1,992,899) | 31,890 | 221,387 | 8,235,675 | 159,205 | 130,513 |
Schwab U.S. Aggregate Bond ETF | 56,223,290 | 67,860,439 | (22,951,717) | (3,093) | 3,519,379 | 104,648,298 | 1,928,290 | 2,206,973 |
Schwab U.S. Large-Cap ETF | 77,663,945 | 77,056,093 | (3,648,027) | (652,107) | (17,775,495) | 132,644,409 | 2,165,623 | 2,394,774 |
Schwab U.S. REIT ETF | 6,732,389 | 8,880,094 | (213,716) | (5,470) | (3,590,953) | 11,802,344 | 360,487 | 287,485 |
Schwab U.S. Small-Cap ETF | 6,848,035 | 8,666,962 | (265,447) | (11,402) | (3,595,761) | 11,642,387 | 225,978 | 164,646 |
Schwab U.S. TIPS ETF | — | 2,267,330 | (272,524) | 2,515 | (9,833) | 1,987,488 | 34,559 | — |
Schwab Variable Share Price Money Fund, Ultra Shares | 4,914,787 | 7,067,775 | (7,500,000) | (1,595) | (1,749) | 4,479,218 | 4,479,665 | 134,971 |
Total | $199,402,120 | $226,460,776 | ($38,497,056) | ($793,992) | ($37,454,839) | $349,117,009 | $7,363,670 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $349,117,009 | $— | $— | $349,117,009 | |
Short-Term Investments1 | — | 5,122,190 | — | 5,122,190 | |
Total | $349,117,009 | $5,122,190 | $— | $354,239,199 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $379,665,362) | $349,117,009 | |
Investments in unaffiliated issuers, at value (cost $5,122,190) | 5,122,190 | |
Receivables: | ||
Investments sold | 10,542,608 | |
Fund shares sold | 1,670,229 | |
Dividends | + | 2,803 |
Total assets | 366,454,839 | |
Liabilities | ||
Payables: | ||
Investments bought | 13,179,707 | |
Investment adviser fees | 10,086 | |
Fund shares redeemed | + | 295,681 |
Total liabilities | 13,485,474 | |
Net Assets | ||
Total assets | 366,454,839 | |
Total liabilities | – | 13,485,474 |
Net assets | $352,969,365 | |
Net Assets by Source | ||
Capital received from investors | 383,639,790 | |
Total distributable loss | (30,670,425) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$352,969,365 | 32,494,749 | $10.86 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $7,363,658 | |
Interest | + | 29,358 |
Total investment income | 7,393,016 | |
Expenses | ||
Investment adviser fees | + | 231,091 |
Total expenses | 231,091 | |
Expense reduction by CSIM and its affiliates | – | 136,490 |
Net expenses | – | 94,601 |
Net investment income | 7,298,415 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 12 | |
Net realized losses on sales of affiliated underlying funds | + | (793,992) |
Net realized losses | (793,980) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (37,454,839) |
Net realized and unrealized losses | (38,248,819) | |
Decrease in net assets resulting from operations | ($30,950,404) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $7,298,415 | $3,646,808 | ||
Net realized losses | (793,980) | (602,589) | ||
Net change in unrealized appreciation (depreciation) | + | (37,454,839) | 4,821,915 | |
Increase (decrease) in net assets from operations | (30,950,404) | 7,866,134 | ||
Distributions to Shareholders | ||||
Total distributions | ($6,630,493) | ($3,355,176) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 20,543,091 | $252,081,474 | 10,165,033 | $116,401,157 | ||||
Shares reinvested | 511,903 | 6,449,978 | 310,617 | 3,286,331 | ||||
Shares redeemed | + | (5,831,022) | (69,231,522) | (2,843,780) | (32,502,120) | |||
Net transactions in fund shares | 15,223,972 | $189,299,930 | 7,631,870 | $87,185,368 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 17,270,777 | $201,250,332 | 9,638,907 | $109,554,006 | ||||
Total increase | + | 15,223,972 | 151,719,033 | 7,631,870 | 91,696,326 | |||
End of period | 32,494,749 | $352,969,365 | 17,270,777 | $201,250,332 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $11.82 | $11.53 | $10.54 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.31 | 0.29 | 0.26 | 0.12 | ||
Net realized and unrealized gains (losses) | (1.06) | 0.22 | 0.90 | 0.52 | ||
Total from investment operations | (0.75) | 0.51 | 1.16 | 0.64 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.22) | (0.17) | (0.10) | ||
Distributions from net realized gains | (0.00)4 | (0.00)4 | (0.00)4 | — | ||
Total distributions | (0.26) | (0.22) | (0.17) | (0.10) | ||
Net asset value at end of period | $10.81 | $11.82 | $11.53 | $10.54 | ||
Total return | (6.72%) | 4.68% | 10.96% | 6.44%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.04% | 0.03%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.53% | 2.49% | 2.29% | 2.04%7 | ||
Portfolio turnover rate | 12% | 6% | 14% | 13%5 | ||
Net assets, end of period (x 1,000) | $196,194 | $126,200 | $62,526 | $1,904 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.7% of net assets | ||
U.S. Stocks 45.3% | ||
Large-Cap 41.2% | ||
Schwab U.S. Large-Cap ETF | 1,318,670 | 80,768,537 |
Small-Cap 4.1% | ||
Schwab U.S. Small-Cap ETF | 158,159 | 8,148,352 |
88,916,889 | ||
International Stocks 24.1% | ||
Developed-Market Large-Cap 20.1% | ||
Schwab International Equity ETF | 1,526,088 | 39,434,114 |
Emerging-Market 4.0% | ||
Schwab Emerging Markets Equity ETF | 381,624 | 7,895,801 |
47,329,915 | ||
Real Assets 3.8% | ||
Real Estate 3.8% | ||
Schwab U.S. REIT ETF | 225,310 | 7,376,649 |
Fixed Income 24.9% | ||
Intermediate-Term Bond 23.4% | ||
Schwab U.S. Aggregate Bond ETF | 846,653 | 45,947,858 |
Treasury Bond 1.5% | ||
Schwab Short-Term U.S. Treasury ETF | 55,037 | 2,847,064 |
48,794,922 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 0.6% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 1,280,580 | 1,280,452 |
Total Affiliated Underlying Funds | ||
(Cost $213,410,097) | 193,698,827 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.5% of net assets | ||
Time Deposits 1.5% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.15%, 04/01/20 (b) | 1,982,912 | 1,982,912 |
ING Bank | ||
0.15%, 04/01/20 (b) | 899,493 | 899,493 |
Total Short-Term Investments | ||
(Cost $2,882,405) | 2,882,405 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $5,367,606 | $4,541,078 | ($118,467) | ($25,810) | ($1,868,606) | $7,895,801 | 381,624 | $263,220 |
Schwab International Equity ETF | 25,525,289 | 23,589,380 | (867,178) | (167,329) | (8,646,048) | 39,434,114 | 1,526,088 | 1,113,406 |
Schwab Short-Term U.S. Treasury ETF | 1,703,700 | 1,900,472 | (847,530) | 14,464 | 75,958 | 2,847,064 | 55,037 | 48,864 |
Schwab U.S. Aggregate Bond ETF | 27,132,825 | 28,594,650 | (11,389,991) | 12,047 | 1,598,327 | 45,947,858 | 846,653 | 1,008,666 |
Schwab U.S. Large-Cap ETF | 53,041,735 | 42,066,347 | (3,340,266) | (198,962) | (10,800,317) | 80,768,537 | 1,318,670 | 1,531,309 |
Schwab U.S. REIT ETF | 4,759,741 | 5,290,910 | (405,139) | (7,086) | (2,261,777) | 7,376,649 | 225,310 | 186,230 |
Schwab U.S. Small-Cap ETF | 5,427,967 | 5,493,971 | (226,728) | (5,116) | (2,541,742) | 8,148,352 | 158,159 | 120,606 |
Schwab Variable Share Price Money Fund, Ultra Shares | 2,330,369 | 2,551,317 | (3,600,000) | (817) | (417) | 1,280,452 | 1,280,580 | 57,806 |
Total | $125,289,232 | $114,028,125 | ($20,795,299) | ($378,609) | ($24,444,622) | $193,698,827 | $4,330,107 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $193,698,827 | $— | $— | $193,698,827 | |
Short-Term Investments1 | — | 2,882,405 | — | 2,882,405 | |
Total | $193,698,827 | $2,882,405 | $— | $196,581,232 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $213,410,097) | $193,698,827 | |
Investments in unaffiliated issuers, at value (cost $2,882,405) | 2,882,405 | |
Receivables: | ||
Investments sold | 5,683,907 | |
Fund shares sold | 778,016 | |
Dividends | + | 1,148 |
Total assets | 203,044,303 | |
Liabilities | ||
Payables: | ||
Investments bought | 6,233,605 | |
Investment adviser fees | 5,685 | |
Fund shares redeemed | + | 610,874 |
Total liabilities | 6,850,164 | |
Net Assets | ||
Total assets | 203,044,303 | |
Total liabilities | – | 6,850,164 |
Net assets | $196,194,139 | |
Net Assets by Source | ||
Capital received from investors | 215,869,321 | |
Total distributable loss | (19,675,182) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$196,194,139 | 18,142,515 | $10.81 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $4,330,102 | |
Interest | + | 14,764 |
Total investment income | 4,344,866 | |
Expenses | ||
Investment adviser fees | + | 135,464 |
Total expenses | 135,464 | |
Expense reduction by CSIM and its affiliates | – | 79,991 |
Net expenses | – | 55,473 |
Net investment income | 4,289,393 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 5 | |
Net realized losses on sales of affiliated underlying funds | + | (378,609) |
Net realized losses | (378,604) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (24,444,622) |
Net realized and unrealized losses | (24,823,226) | |
Decrease in net assets resulting from operations | ($20,533,833) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $4,289,393 | $2,247,280 | ||
Net realized losses | (378,604) | (248,347) | ||
Net change in unrealized appreciation (depreciation) | + | (24,444,622) | 2,757,771 | |
Increase (decrease) in net assets from operations | (20,533,833) | 4,756,704 | ||
Distributions to Shareholders | ||||
Total distributions | ($3,962,275) | ($2,075,616) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 10,934,988 | $136,055,299 | 6,790,501 | $79,065,998 | ||||
Shares reinvested | 298,511 | 3,829,893 | 190,311 | 2,028,716 | ||||
Shares redeemed | + | (3,769,332) | (45,395,356) | (1,724,281) | (20,101,834) | |||
Net transactions in fund shares | 7,464,167 | $94,489,836 | 5,256,531 | $60,992,880 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 10,678,348 | $126,200,411 | 5,421,817 | $62,526,443 | ||||
Total increase | + | 7,464,167 | 69,993,728 | 5,256,531 | 63,673,968 | |||
End of period | 18,142,515 | $196,194,139 | 10,678,348 | $126,200,411 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $11.95 | $11.69 | $10.59 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.32 | 0.29 | 0.27 | 0.15 | ||
Net realized and unrealized gains (losses) | (1.26) | 0.21 | 1.00 | 0.55 | ||
Total from investment operations | (0.94) | 0.50 | 1.27 | 0.70 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.25) | (0.24) | (0.17) | (0.11) | ||
Distributions from net realized gains | (0.00)4 | — | (0.00)4 | — | ||
Total distributions | (0.25) | (0.24) | (0.17) | (0.11) | ||
Net asset value at end of period | $10.76 | $11.95 | $11.69 | $10.59 | ||
Total return | (8.20%) | 4.49% | 11.97% | 7.09%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.04% | 0.03%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.54% | 2.48% | 2.33% | 2.48%7 | ||
Portfolio turnover rate | 7% | 2% | 15% | 8%5 | ||
Net assets, end of period (x 1,000) | $249,144 | $143,404 | $72,830 | $1,514 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.8% of net assets | ||
U.S. Stocks 48.9% | ||
Large-Cap 44.0% | ||
Schwab U.S. Large-Cap ETF | 1,787,504 | 109,484,620 |
Small-Cap 4.9% | ||
Schwab U.S. Small-Cap ETF | 238,334 | 12,278,968 |
121,763,588 | ||
International Stocks 26.9% | ||
Developed-Market Large-Cap 21.9% | ||
Schwab International Equity ETF | 2,117,072 | 54,705,140 |
Emerging-Market 5.0% | ||
Schwab Emerging Markets Equity ETF | 599,813 | 12,410,131 |
67,115,271 | ||
Real Assets 4.1% | ||
Real Estate 4.1% | ||
Schwab U.S. REIT ETF | 312,317 | 10,225,259 |
Fixed Income 18.4% | ||
Intermediate-Term Bond 17.5% | ||
Schwab U.S. Aggregate Bond ETF | 803,488 | 43,605,294 |
Treasury Bond 0.9% | ||
Schwab Short-Term U.S. Treasury ETF | 45,346 | 2,345,748 |
45,951,042 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 0.5% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 1,161,570 | 1,161,453 |
Total Affiliated Underlying Funds | ||
(Cost $277,567,662) | 246,216,613 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.0% of net assets | ||
Time Deposits 1.0% | ||
Banco Santander | ||
0.15%, 04/01/20 (b) | 9,923 | 9,923 |
JPMorgan Chase Bank | ||
0.15%, 04/01/20 (b) | 2,504,007 | 2,504,007 |
Total Short-Term Investments | ||
(Cost $2,513,930) | 2,513,930 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $7,516,266 | $8,072,212 | ($180,585) | ($33,628) | ($2,964,134) | $12,410,131 | 599,813 | $396,575 |
Schwab International Equity ETF | 31,657,416 | 35,665,619 | (294,504) | (95,616) | (12,227,775) | 54,705,140 | 2,117,072 | 1,474,136 |
Schwab Short-Term U.S. Treasury ETF | 1,153,316 | 1,578,844 | (459,249) | 12,898 | 59,939 | 2,345,748 | 45,346 | 37,793 |
Schwab U.S. Aggregate Bond ETF | 22,575,842 | 30,330,726 | (10,766,639) | 43,216 | 1,422,149 | 43,605,294 | 803,488 | 903,989 |
Schwab U.S. Large-Cap ETF | 64,092,792 | 61,003,596 | — | — | (15,611,768) | 109,484,620 | 1,787,504 | 2,016,678 |
Schwab U.S. REIT ETF | 5,845,788 | 7,745,086 | (163,240) | (4,709) | (3,197,666) | 10,225,259 | 312,317 | 254,300 |
Schwab U.S. Small-Cap ETF | 7,298,035 | 9,236,279 | (274,255) | (16,727) | (3,964,364) | 12,278,968 | 238,334 | 176,571 |
Schwab Variable Share Price Money Fund, Ultra Shares | 1,671,284 | 2,291,293 | (2,800,000) | (710) | (414) | 1,161,453 | 1,161,570 | 45,395 |
Total | $141,810,739 | $155,923,655 | ($14,938,472) | ($95,276) | ($36,484,033) | $246,216,613 | $5,305,437 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $246,216,613 | $— | $— | $246,216,613 | |
Short-Term Investments1 | — | 2,513,930 | — | 2,513,930 | |
Total | $246,216,613 | $2,513,930 | $— | $248,730,543 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $277,567,662) | $246,216,613 | |
Investments in unaffiliated issuers, at value (cost $2,513,930) | 2,513,930 | |
Receivables: | ||
Investments sold | 5,818,969 | |
Fund shares sold | 1,677,420 | |
Dividends | + | 1,009 |
Total assets | 256,227,941 | |
Liabilities | ||
Payables: | ||
Investments bought | 6,951,545 | |
Investment adviser fees | 7,125 | |
Fund shares redeemed | + | 125,026 |
Total liabilities | 7,083,696 | |
Net Assets | ||
Total assets | 256,227,941 | |
Total liabilities | – | 7,083,696 |
Net assets | $249,144,245 | |
Net Assets by Source | ||
Capital received from investors | 279,876,246 | |
Total distributable loss | (30,732,001) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$249,144,245 | 23,153,184 | $10.76 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $5,305,433 | |
Interest | + | 19,604 |
Total investment income | 5,325,037 | |
Expenses | ||
Investment adviser fees | + | 165,631 |
Total expenses | 165,631 | |
Expense reduction by CSIM and its affiliates | – | 97,916 |
Net expenses | – | 67,715 |
Net investment income | 5,257,322 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 4 | |
Net realized losses on sales of affiliated underlying funds | + | (95,276) |
Net realized losses | (95,272) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (36,484,033) |
Net realized and unrealized losses | (36,579,305) | |
Decrease in net assets resulting from operations | ($31,321,983) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $5,257,322 | $2,539,601 | ||
Net realized losses | (95,272) | (109,216) | ||
Net change in unrealized appreciation (depreciation) | + | (36,484,033) | 2,755,253 | |
Increase (decrease) in net assets from operations | (31,321,983) | 5,185,638 | ||
Distributions to Shareholders | ||||
Total distributions | ($4,789,625) | ($2,349,510) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 14,919,097 | $186,921,655 | 7,011,105 | $82,572,627 | ||||
Shares reinvested | 358,722 | 4,674,150 | 216,494 | 2,318,649 | ||||
Shares redeemed | + | (4,122,683) | (49,744,250) | (1,457,852) | (17,153,200) | |||
Net transactions in fund shares | 11,155,136 | $141,851,555 | 5,769,747 | $67,738,076 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 11,998,048 | $143,404,298 | 6,228,301 | $72,830,094 | ||||
Total increase | + | 11,155,136 | 105,739,947 | 5,769,747 | 70,574,204 | |||
End of period | 23,153,184 | $249,144,245 | 11,998,048 | $143,404,298 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.05 | $11.81 | $10.64 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.32 | 0.29 | 0.28 | 0.10 | ||
Net realized and unrealized gains (losses) | (1.43) | 0.19 | 1.06 | 0.65 | ||
Total from investment operations | (1.11) | 0.48 | 1.34 | 0.75 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.24) | (0.17) | (0.11) | ||
Distributions from net realized gains | (0.00)4 | (0.00)4 | (0.00)4 | — | ||
Total distributions | (0.26) | (0.24) | (0.17) | (0.11) | ||
Net asset value at end of period | $10.68 | $12.05 | $11.81 | $10.64 | ||
Total return | (9.63%) | 4.33% | 12.57% | 7.51%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.03% | 0.02%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.54% | 2.43% | 2.39% | 1.68%7 | ||
Portfolio turnover rate | 6% | 7% | 11% | 8%5 | ||
Net assets, end of period (x 1,000) | $135,960 | $84,790 | $44,817 | $1,261 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 98.9% of net assets | ||
U.S. Stocks 52.2% | ||
Large-Cap 46.5% | ||
Schwab U.S. Large-Cap ETF | 1,031,221 | 63,162,286 |
Small-Cap 5.7% | ||
Schwab U.S. Small-Cap ETF | 150,678 | 7,762,931 |
70,925,217 | ||
International Stocks 29.8% | ||
Developed-Market Large-Cap 23.8% | ||
Schwab International Equity ETF | 1,251,093 | 32,328,243 |
Emerging-Market 6.0% | ||
Schwab Emerging Markets Equity ETF | 394,237 | 8,156,764 |
40,485,007 | ||
Real Assets 4.4% | ||
Real Estate 4.4% | ||
Schwab U.S. REIT ETF | 184,203 | 6,030,806 |
Fixed Income 12.5% | ||
Intermediate-Term Bond 11.9% | ||
Schwab U.S. Aggregate Bond ETF | 298,770 | 16,214,248 |
Treasury Bond 0.6% | ||
Schwab Short-Term U.S. Treasury ETF | 14,579 | 754,171 |
16,968,419 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 0.0% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 45,720 | 45,716 |
Total Affiliated Underlying Funds | ||
(Cost $151,887,895) | 134,455,165 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.2% of net assets | ||
Time Deposits 1.2% | ||
ING Bank | ||
0.15%, 04/01/20 (b) | 275,117 | 275,117 |
Sumitomo Mitsui Trust Bank, Limited | ||
0.15%, 04/01/20 (b) | 1,353,575 | 1,353,575 |
Total Short-Term Investments | ||
(Cost $1,628,692) | 1,628,692 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $5,164,337 | $5,087,737 | ($127,670) | ($25,047) | ($1,942,593) | $8,156,764 | 394,237 | $270,923 |
Schwab International Equity ETF | 20,135,524 | 19,995,171 | (664,807) | (82,902) | (7,054,743) | 32,328,243 | 1,251,093 | 924,044 |
Schwab Short-Term U.S. Treasury ETF | 450,355 | 382,204 | (101,337) | 2,461 | 20,488 | 754,171 | 14,579 | 12,988 |
Schwab U.S. Aggregate Bond ETF | 9,258,453 | 10,561,731 | (4,198,194) | 16,870 | 575,388 | 16,214,248 | 298,770 | 362,473 |
Schwab U.S. Large-Cap ETF | 39,719,387 | 32,824,667 | (1,069,275) | (145,400) | (8,167,093) | 63,162,286 | 1,031,221 | 1,208,965 |
Schwab U.S. REIT ETF | 3,692,933 | 4,392,820 | (180,965) | (48,535) | (1,825,447) | 6,030,806 | 184,203 | 156,558 |
Schwab U.S. Small-Cap ETF | 4,840,485 | 5,605,115 | (187,084) | (101,401) | (2,394,184) | 7,762,931 | 150,678 | 115,171 |
Schwab Variable Share Price Money Fund, Ultra Shares | 565,609 | 530,409 | (1,050,000) | (337) | 35 | 45,716 | 45,720 | 15,001 |
Total | $83,827,083 | $79,379,854 | ($7,579,332) | ($384,291) | ($20,788,149) | $134,455,165 | $3,066,123 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $134,455,165 | $— | $— | $134,455,165 | |
Short-Term Investments1 | — | 1,628,692 | — | 1,628,692 | |
Total | $134,455,165 | $1,628,692 | $— | $136,083,857 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $151,887,895) | $134,455,165 | |
Investments in unaffiliated issuers, at value (cost $1,628,692) | 1,628,692 | |
Receivables: | ||
Investments sold | 2,040,241 | |
Fund shares sold | 1,986,328 | |
Dividends | + | 238 |
Total assets | 140,110,664 | |
Liabilities | ||
Payables: | ||
Investments bought | 4,126,076 | |
Investment adviser fees | 3,824 | |
Fund shares redeemed | + | 20,497 |
Total liabilities | 4,150,397 | |
Net Assets | ||
Total assets | 140,110,664 | |
Total liabilities | – | 4,150,397 |
Net assets | $135,960,267 | |
Net Assets by Source | ||
Capital received from investors | 153,543,721 | |
Total distributable loss | (17,583,454) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$135,960,267 | 12,724,613 | $10.68 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $3,066,123 | |
Interest | + | 10,333 |
Total investment income | 3,076,456 | |
Expenses | ||
Investment adviser fees | + | 95,567 |
Total expenses | 95,567 | |
Expense reduction by CSIM and its affiliates | – | 56,832 |
Net expenses | – | 38,735 |
Net investment income | 3,037,721 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on sales of affiliated underlying funds | (384,291) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (20,788,149) |
Net realized and unrealized losses | (21,172,440) | |
Decrease in net assets resulting from operations | ($18,134,719) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $3,037,721 | $1,496,131 | ||
Net realized losses | (384,291) | (197,409) | ||
Net change in unrealized appreciation (depreciation) | + | (20,788,149) | 1,741,300 | |
Increase (decrease) in net assets from operations | (18,134,719) | 3,040,022 | ||
Distributions to Shareholders | ||||
Total distributions | ($2,805,470) | ($1,405,947) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,299,115 | $91,442,977 | 4,266,684 | $50,692,490 | ||||
Shares reinvested | 206,779 | 2,725,348 | 126,299 | 1,356,451 | ||||
Shares redeemed | + | (1,816,811) | (22,057,625) | (1,153,341) | (13,710,070) | |||
Net transactions in fund shares | 5,689,083 | $72,110,700 | 3,239,642 | $38,338,871 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 7,035,530 | $84,789,756 | 3,795,888 | $44,816,810 | ||||
Total increase | + | 5,689,083 | 51,170,511 | 3,239,642 | 39,972,946 | |||
End of period | 12,724,613 | $135,960,267 | 7,035,530 | $84,789,756 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.09 | $11.85 | $10.65 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.32 | 0.29 | 0.28 | 0.15 | ||
Net realized and unrealized gains (losses) | (1.52) | 0.18 | 1.09 | 0.62 | ||
Total from investment operations | (1.20) | 0.47 | 1.37 | 0.77 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.23) | (0.17) | (0.12) | ||
Distributions from net realized gains | (0.00)4 | — | (0.00)4 | — | ||
Total distributions | (0.26) | (0.23) | (0.17) | (0.12) | ||
Net asset value at end of period | $10.63 | $12.09 | $11.85 | $10.65 | ||
Total return | (10.35%) | 4.23% | 12.85% | 7.80%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.03% | 0.02%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.55% | 2.48% | 2.37% | 2.54%7 | ||
Portfolio turnover rate | 3% | 0%8 | 15% | 4%5 | ||
Net assets, end of period (x 1,000) | $146,944 | $88,727 | $37,619 | $793 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 99.2% of net assets | ||
U.S. Stocks 54.0% | ||
Large-Cap 47.8% | ||
Schwab U.S. Large-Cap ETF | 1,146,675 | 70,233,844 |
Small-Cap 6.2% | ||
Schwab U.S. Small-Cap ETF | 175,881 | 9,061,389 |
79,295,233 | ||
International Stocks 31.4% | ||
Developed-Market Large-Cap 24.8% | ||
Schwab International Equity ETF | 1,411,285 | 36,467,605 |
Emerging-Market 6.6% | ||
Schwab Emerging Markets Equity ETF | 470,251 | 9,729,493 |
46,197,098 | ||
Real Assets 4.6% | ||
Real Estate 4.6% | ||
Schwab U.S. REIT ETF | 205,427 | 6,725,680 |
Fixed Income 9.2% | ||
Intermediate-Term Bond 8.8% | ||
Schwab U.S. Aggregate Bond ETF | 237,247 | 12,875,395 |
Treasury Bond 0.4% | ||
Schwab Short-Term U.S. Treasury ETF | 12,121 | 627,019 |
13,502,414 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 0.0% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 62,686 | 62,679 |
Total Affiliated Underlying Funds | ||
(Cost $167,319,228) | 145,783,104 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.2% of net assets | ||
Time Deposits 1.2% | ||
ING Bank | ||
0.15%, 04/01/20 (b) | 202,581 | 202,581 |
JPMorgan Chase Bank | ||
0.15%, 04/01/20 (b) | 1,473,177 | 1,473,177 |
Total Short-Term Investments | ||
(Cost $1,675,758) | 1,675,758 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $6,007,764 | $6,071,136 | $— | $— | ($2,349,407) | $9,729,493 | 470,251 | $314,816 |
Schwab International Equity ETF | 21,820,941 | 22,623,281 | — | — | (7,976,617) | 36,467,605 | 1,411,285 | 1,015,042 |
Schwab Short-Term U.S. Treasury ETF | 345,357 | 264,830 | — | — | 16,832 | 627,019 | 12,121 | 9,652 |
Schwab U.S. Aggregate Bond ETF | 7,211,320 | 8,430,691 | (3,233,101) | 17,819 | 448,666 | 12,875,395 | 237,247 | 286,379 |
Schwab U.S. Large-Cap ETF | 42,855,342 | 37,023,453 | (219,400) | (6,473) | (9,419,078) | 70,233,844 | 1,146,675 | 1,328,792 |
Schwab U.S. REIT ETF | 4,015,850 | 4,886,771 | (144,185) | (3,929) | (2,028,827) | 6,725,680 | 205,427 | 173,618 |
Schwab U.S. Small-Cap ETF | 5,488,386 | 6,455,006 | — | — | (2,882,003) | 9,061,389 | 175,881 | 131,929 |
Schwab Variable Share Price Money Fund, Ultra Shares | 333,609 | 329,297 | (600,000) | (225) | (2) | 62,679 | 62,686 | 9,087 |
Total | $88,078,569 | $86,084,465 | ($4,196,686) | $7,192 | ($24,190,436) | $145,783,104 | $3,269,315 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $145,783,104 | $— | $— | $145,783,104 | |
Short-Term Investments1 | — | 1,675,758 | — | 1,675,758 | |
Total | $145,783,104 | $1,675,758 | $— | $147,458,862 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $167,319,228) | $145,783,104 | |
Investments in unaffiliated issuers, at value (cost $1,675,758) | 1,675,758 | |
Receivables: | ||
Investments sold | 1,662,615 | |
Fund shares sold | 1,280,703 | |
Dividends | + | 172 |
Total assets | 150,402,352 | |
Liabilities | ||
Payables: | ||
Investments bought | 3,256,137 | |
Investment adviser fees | 4,083 | |
Fund shares redeemed | + | 198,276 |
Total liabilities | 3,458,496 | |
Net Assets | ||
Total assets | 150,402,352 | |
Total liabilities | – | 3,458,496 |
Net assets | $146,943,856 | |
Net Assets by Source | ||
Capital received from investors | 167,995,647 | |
Total distributable loss | (21,051,791) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$146,943,856 | 13,823,283 | $10.63 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $3,269,315 | |
Interest | + | 10,951 |
Total investment income | 3,280,266 | |
Expenses | ||
Investment adviser fees | + | 101,560 |
Total expenses | 101,560 | |
Expense reduction by CSIM and its affiliates | – | 60,732 |
Net expenses | – | 40,828 |
Net investment income | 3,239,438 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on sales of affiliated underlying funds | 7,192 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (24,190,436) |
Net realized and unrealized losses | (24,183,244) | |
Decrease in net assets resulting from operations | ($20,943,806) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $3,239,438 | $1,479,052 | ||
Net realized gains (losses) | 7,192 | (242) | ||
Net change in unrealized appreciation (depreciation) | + | (24,190,436) | 1,646,230 | |
Increase (decrease) in net assets from operations | (20,943,806) | 3,125,040 | ||
Distributions to Shareholders | ||||
Total distributions | ($2,976,899) | ($1,342,563) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 8,524,439 | $107,038,772 | 5,016,544 | $59,703,635 | ||||
Shares reinvested | 219,241 | 2,904,936 | 121,931 | 1,310,755 | ||||
Shares redeemed | + | (2,257,570) | (27,806,155) | (977,064) | (11,689,203) | |||
Net transactions in fund shares | 6,486,110 | $82,137,553 | 4,161,411 | $49,325,187 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 7,337,173 | $88,727,008 | 3,175,762 | $37,619,344 | ||||
Total increase | + | 6,486,110 | 58,216,848 | 4,161,411 | 51,107,664 | |||
End of period | 13,823,283 | $146,943,856 | 7,337,173 | $88,727,008 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.14 | $11.91 | $10.67 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.32 | 0.31 | 0.27 | 0.15 | ||
Net realized and unrealized gains (losses) | (1.60) | 0.15 | 1.15 | 0.65 | ||
Total from investment operations | (1.28) | 0.46 | 1.42 | 0.80 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.23) | (0.18) | (0.13) | ||
Distributions from net realized gains | (0.00)4 | — | (0.00)4 | — | ||
Total distributions | (0.26) | (0.23) | (0.18) | (0.13) | ||
Net asset value at end of period | $10.60 | $12.14 | $11.91 | $10.67 | ||
Total return | (10.96%) | 4.15% | 13.25% | 8.03%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.03% | 0.02%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.57% | 2.60% | 2.33% | 2.53%7 | ||
Portfolio turnover rate | 3% | 6% | 23% | 14%5 | ||
Net assets, end of period (x 1,000) | $84,957 | $50,403 | $17,713 | $147 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 99.3% of net assets | ||
U.S. Stocks 55.1% | ||
Large-Cap 48.7% | ||
Schwab U.S. Large-Cap ETF | 675,132 | 41,351,835 |
Small-Cap 6.4% | ||
Schwab U.S. Small-Cap ETF | 105,817 | 5,451,692 |
46,803,527 | ||
International Stocks 32.6% | ||
Developed-Market Large-Cap 25.5% | ||
Schwab International Equity ETF | 838,477 | 21,666,246 |
Emerging-Market 7.1% | ||
Schwab Emerging Markets Equity ETF | 290,053 | 6,001,197 |
27,667,443 | ||
Real Assets 4.7% | ||
Real Estate 4.7% | ||
Schwab U.S. REIT ETF | 123,118 | 4,030,883 |
Fixed Income 6.8% | ||
Intermediate-Term Bond 6.5% | ||
Schwab U.S. Aggregate Bond ETF | 102,176 | 5,545,092 |
Treasury Bond 0.3% | ||
Schwab Short-Term U.S. Treasury ETF | 5,147 | 266,254 |
5,811,346 | ||
Security | Number of Shares | Value ($) |
Money Market Funds 0.1% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.87% (a) | 66,538 | 66,531 |
Total Affiliated Underlying Funds | ||
(Cost $97,346,965) | 84,379,730 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.5% of net assets | ||
Time Deposit 0.5% | ||
JPMorgan Chase Bank | ||
0.15%, 04/01/20 (b) | 429,106 | 429,106 |
Total Short-Term Investment | ||
(Cost $429,106) | 429,106 |
(a) | The rate shown is the 7-day yield. |
(b) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $3,604,804 | $4,030,251 | ($178,763) | ($42,024) | ($1,413,071) | $6,001,197 | 290,053 | $193,541 |
Schwab International Equity ETF | 12,857,357 | 13,797,423 | (180,588) | (22,202) | (4,785,744) | 21,666,246 | 838,477 | 600,408 |
Schwab Short-Term U.S. Treasury ETF | 115,989 | 143,053 | — | — | 7,212 | 266,254 | 5,147 | 3,913 |
Schwab U.S. Aggregate Bond ETF | 3,046,601 | 3,828,822 | (1,535,893) | 9,274 | 196,288 | 5,545,092 | 102,176 | 121,509 |
Schwab U.S. Large-Cap ETF | 24,735,389 | 22,363,782 | (116,851) | (655) | (5,629,830) | 41,351,835 | 675,132 | 776,371 |
Schwab U.S. REIT ETF | 2,384,292 | 2,898,221 | — | — | (1,251,630) | 4,030,883 | 123,118 | 102,317 |
Schwab U.S. Small-Cap ETF | 3,262,095 | 3,980,684 | — | — | (1,791,087) | 5,451,692 | 105,817 | 79,818 |
Schwab Variable Share Price Money Fund, Ultra Shares | — | 166,606 | (100,000) | (48) | (27) | 66,531 | 66,538 | 1,656 |
Total | $50,006,527 | $51,208,842 | ($2,112,095) | ($55,655) | ($14,667,889) | $84,379,730 | $1,879,533 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $84,379,730 | $— | $— | $84,379,730 | |
Short-Term Investment1 | — | 429,106 | — | 429,106 | |
Total | $84,379,730 | $429,106 | $— | $84,808,836 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $97,346,965) | $84,379,730 | |
Investments in unaffiliated issuers, at value (cost $429,106) | 429,106 | |
Receivables: | ||
Investments sold | 785,664 | |
Fund shares sold | 1,418,476 | |
Dividends | + | 59 |
Total assets | 87,013,035 | |
Liabilities | ||
Payables: | ||
Investments bought | 2,035,730 | |
Investment adviser fees | 2,344 | |
Fund shares redeemed | + | 17,639 |
Total liabilities | 2,055,713 | |
Net Assets | ||
Total assets | 87,013,035 | |
Total liabilities | – | 2,055,713 |
Net assets | $84,957,322 | |
Net Assets by Source | ||
Capital received from investors | 98,046,045 | |
Total distributable loss | (13,088,723) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$84,957,322 | 8,012,199 | $10.60 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $1,879,533 | |
Interest | + | 6,468 |
Total investment income | 1,886,001 | |
Expenses | ||
Investment adviser fees | + | 58,090 |
Total expenses | 58,090 | |
Expense reduction by CSIM and its affiliates | – | 34,820 |
Net expenses | – | 23,270 |
Net investment income | 1,862,731 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on sales of affiliated underlying funds | (55,655) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (14,667,889) |
Net realized and unrealized losses | (14,723,544) | |
Decrease in net assets resulting from operations | ($12,860,813) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $1,862,731 | $801,278 | ||
Net realized losses | (55,655) | (280,589) | ||
Net change in unrealized appreciation (depreciation) | + | (14,667,889) | 968,303 | |
Increase (decrease) in net assets from operations | (12,860,813) | 1,488,992 | ||
Distributions to Shareholders | ||||
Total distributions | ($1,713,432) | ($719,620) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 4,773,989 | $60,448,655 | 3,163,692 | $37,868,864 | ||||
Shares reinvested | 124,969 | 1,664,589 | 64,898 | 698,954 | ||||
Shares redeemed | + | (1,038,683) | (12,984,766) | (564,085) | (6,647,372) | |||
Net transactions in fund shares | 3,860,275 | $49,128,478 | 2,664,505 | $31,920,446 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 4,151,924 | $50,403,089 | 1,487,419 | $17,713,271 | ||||
Total increase | + | 3,860,275 | 34,554,233 | 2,664,505 | 32,689,818 | |||
End of period | 8,012,199 | $84,957,322 | 4,151,924 | $50,403,089 |
4/1/19– 3/31/20 | 4/1/18– 3/31/19 | 4/1/17– 3/31/181 | 8/25/162– 3/31/17 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.16 | $11.92 | $10.68 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss)3 | 0.32 | 0.30 | 0.29 | 0.18 | ||
Net realized and unrealized gains (losses) | (1.66) | 0.17 | 1.12 | 0.62 | ||
Total from investment operations | (1.34) | 0.47 | 1.41 | 0.80 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.23) | (0.17) | (0.12) | ||
Distributions from net realized gains | (0.00)4 | (0.00)4 | (0.00)4 | — | ||
Total distributions | (0.27) | (0.23) | (0.17) | (0.12) | ||
Net asset value at end of period | $10.55 | $12.16 | $11.92 | $10.68 | ||
Total return | (11.50%) | 4.23% | 13.22% | 8.11%5 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses6 | 0.03% | 0.03% | 0.03% | 0.02%7 | ||
Gross operating expenses6 | 0.08% | 0.08% | 0.08% | 0.08%7 | ||
Net investment income (loss) | 2.54% | 2.50% | 2.43% | 2.94%7 | ||
Portfolio turnover rate | 4% | 2% | 19% | 0%5 | ||
Net assets, end of period (x 1,000) | $100,674 | $58,895 | $24,224 | $166 | ||
Security | Number of Shares | Value ($) |
Affiliated Underlying Funds 99.5% of net assets | ||
U.S. Stocks 56.3% | ||
Large-Cap 49.5% | ||
Schwab U.S. Large-Cap ETF | 813,577 | 49,831,591 |
Small-Cap 6.8% | ||
Schwab U.S. Small-Cap ETF | 133,131 | 6,858,909 |
56,690,500 | ||
International Stocks 33.8% | ||
Developed-Market Large-Cap 26.3% | ||
Schwab International Equity ETF | 1,022,508 | 26,421,607 |
Emerging-Market 7.5% | ||
Schwab Emerging Markets Equity ETF | 366,825 | 7,589,609 |
34,011,216 | ||
Real Assets 4.9% | ||
Real Estate 4.9% | ||
Schwab U.S. REIT ETF | 149,945 | 4,909,199 |
Fixed Income 4.5% | ||
Intermediate-Term Bond 4.3% | ||
Schwab U.S. Aggregate Bond ETF | 79,714 | 4,326,079 |
Security | Number of Shares | Value ($) |
Treasury Bond 0.2% | ||
Schwab Short-Term U.S. Treasury ETF | 3,926 | 203,092 |
4,529,171 | ||
Total Affiliated Underlying Funds | ||
(Cost $115,982,389) | 100,140,086 | |
Issuer Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
Banco Santander | ||
0.15%, 04/01/20 (a) | 451,259 | 451,259 |
Total Short-Term Investment | ||
(Cost $451,259) | 451,259 |
(a) | The rate shown is the current daily overnight rate. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Affiliated Underlying Funds | Market Value at 03/31/19 | Gross Purchases | Gross Sales | Realized Gains (Losses) | Net Change in Unrealized Appreciation (depreciation) | Market Value at 03/31/20 | Balance of Shares Held at 03/31/20 | Distributions Received* |
Schwab Emerging Markets Equity ETF | $4,418,865 | $5,237,128 | ($187,214) | ($40,837) | ($1,838,333) | $7,589,609 | 366,825 | $233,946 |
Schwab International Equity ETF | 15,213,216 | 17,505,784 | (402,456) | (113,036) | (5,781,901) | 26,421,607 | 1,022,508 | 704,531 |
Schwab Short-Term U.S. Treasury ETF | 98,623 | 147,684 | (48,849) | 173 | 5,461 | 203,092 | 3,926 | 3,124 |
Schwab U.S. Aggregate Bond ETF | 2,510,837 | 2,698,182 | (1,053,580) | 11,315 | 159,325 | 4,326,079 | 79,714 | 99,682 |
Schwab U.S. Large-Cap ETF | 29,060,265 | 29,217,368 | (1,489,338) | (379,890) | (6,576,814) | 49,831,591 | 813,577 | 926,371 |
Schwab U.S. REIT ETF | 2,811,530 | 3,646,267 | — | — | (1,548,598) | 4,909,199 | 149,945 | 121,742 |
Schwab U.S. Small-Cap ETF | 3,964,891 | 5,222,658 | (90,067) | (871) | (2,237,702) | 6,858,909 | 133,131 | 97,596 |
Total | $58,078,227 | $63,675,071 | ($3,271,504) | ($523,146) | ($17,818,562) | $100,140,086 | $2,186,992 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Affiliated Underlying Funds1 | $100,140,086 | $— | $— | $100,140,086 | |
Short-Term Investment1 | — | 451,259 | — | 451,259 | |
Total | $100,140,086 | $451,259 | $— | $100,591,345 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $115,982,389) | $100,140,086 | |
Investments in unaffiliated issuers, at value (cost $451,259) | 451,259 | |
Receivables: | ||
Investments sold | 1,476,041 | |
Fund shares sold | + | 771,870 |
Total assets | 102,839,256 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,954,500 | |
Investment adviser fees | 2,788 | |
Fund shares redeemed | + | 207,800 |
Total liabilities | 2,165,088 | |
Net Assets | ||
Total assets | 102,839,256 | |
Total liabilities | – | 2,165,088 |
Net assets | $100,674,168 | |
Net Assets by Source | ||
Capital received from investors | 116,783,420 | |
Total distributable loss | (16,109,252) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$100,674,168 | 9,546,574 | $10.55 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $2,186,992 | |
Interest | + | 6,589 |
Total investment income | 2,193,581 | |
Expenses | ||
Investment adviser fees | + | 68,294 |
Total expenses | 68,294 | |
Expense reduction by CSIM and its affiliates | – | 41,092 |
Net expenses | – | 27,202 |
Net investment income | 2,166,379 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on sales of affiliated underlying funds | (523,146) | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (17,818,562) |
Net realized and unrealized losses | (18,341,708) | |
Decrease in net assets resulting from operations | ($16,175,329) |
Operations | ||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||
Net investment income | $2,166,379 | $959,763 | ||
Net realized losses | (523,146) | (40,243) | ||
Net change in unrealized appreciation (depreciation) | + | (17,818,562) | 1,125,170 | |
Increase (decrease) in net assets from operations | (16,175,329) | 2,044,690 | ||
Distributions to Shareholders | ||||
Total distributions | ($1,977,345) | ($877,604) |
Transactions in Fund Shares | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,354,300 | $90,181,222 | 3,551,607 | $42,513,767 | ||||
Shares reinvested | 139,936 | 1,868,137 | 77,722 | 837,066 | ||||
Shares redeemed | + | (2,791,650) | (32,117,401) | (817,989) | (9,846,664) | |||
Net transactions in fund shares | 4,702,586 | $59,931,958 | 2,811,340 | $33,504,169 | ||||
Shares Outstanding and Net Assets | ||||||||
4/1/19-3/31/20 | 4/1/18-3/31/19 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 4,843,988 | $58,894,884 | 2,032,648 | $24,223,629 | ||||
Total increase | + | 4,702,586 | 41,779,284 | 2,811,340 | 34,671,255 | |||
End of period | 9,546,574 | $100,674,168 | 4,843,988 | $58,894,884 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Target 2010 Index Fund | Schwab Large-Cap Growth Fund |
Schwab Target 2015 Index Fund | Schwab Small-Cap Equity Fund |
Schwab Target 2020 Index Fund | Schwab Hedged Equity Fund |
Schwab Target 2025 Index Fund | Schwab Health Care Fund |
Schwab Target 2030 Index Fund | Schwab International Core Equity Fund |
Schwab Target 2035 Index Fund | Schwab Target 2010 Fund |
Schwab Target 2040 Index Fund | Schwab Target 2015 Fund |
Schwab Target 2045 Index Fund | Schwab Target 2020 Fund |
Schwab Target 2050 Index Fund | Schwab Target 2025 Fund |
Schwab Target 2055 Index Fund | Schwab Target 2030 Fund |
Schwab Target 2060 Index Fund | Schwab Target 2035 Fund |
Schwab S&P 500 Index Fund | Schwab Target 2040 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2045 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2050 Fund |
Schwab U.S. Large-Cap Growth Index Fund | Schwab Target 2055 Fund |
Schwab U.S. Large-Cap Value Index Fund | Schwab Target 2060 Fund |
Schwab U.S. Mid-Cap Index Fund | Schwab Fundamental US Large Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental US Small Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Fundamental Global Real Estate Index Fund |
Laudus International MarketMasters Fund™ | Schwab Monthly Income Fund - Moderate Payout |
Schwab Balanced Fund | Schwab Monthly Income Fund - Enhanced Payout |
Schwab Core Equity Fund | Schwab Monthly Income Fund - Maximum Payout |
Schwab Dividend Equity Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Underlying Funds | Schwab Target 2010 Index Fund | Schwab Target 2015 Index Fund | Schwab Target 2020 Index Fund | Schwab Target 2025 Index Fund | Schwab Target 2030 Index Fund | Schwab Target 2035 Index Fund | Schwab Target 2040 Index Fund | Schwab Target 2045 Index Fund | Schwab Target 2050 Index Fund | Schwab Target 2055 Index Fund | Schwab Target 2060 Index Fund |
Schwab Emerging Markets Equity ETF | —% | —% | —% | 0.1% | 0.2% | 0.2% | 0.2% | 0.2% | 0.2% | 0.1% | 0.1% |
Schwab International Equity ETF | 0.0%* | 0.0%* | 0.1% | 0.2% | 0.4% | 0.2% | 0.3% | 0.2% | 0.2% | 0.1% | 0.2% |
Schwab Short-Term U.S. Treasury ETF | 0.0%* | 0.1% | 0.2% | 0.2% | 0.1% | 0.0%* | 0.0%* | 0.0%* | 0.0%* | 0.0%* | 0.0%* |
Schwab U.S. Aggregate Bond ETF | 0.2% | 0.3% | 1.0% | 1.3% | 1.4% | 0.6% | 0.6% | 0.2% | 0.2% | 0.1% | 0.1% |
Schwab U.S. Large-Cap ETF | 0.0%* | 0.1% | 0.3% | 0.5% | 0.8% | 0.5% | 0.7% | 0.4% | 0.4% | 0.3% | 0.3% |
Schwab U.S. REIT ETF | 0.0%* | 0.0%* | 0.1% | 0.2% | 0.3% | 0.2% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% |
Schwab U.S. Small-Cap ETF | 0.0%* | 0.0%* | 0.0%* | 0.1% | 0.2% | 0.1% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% |
Schwab U.S. TIPS ETF | 0.0%* | 0.0%* | 0.1% | 0.1% | 0.0%* | —% | —% | —% | —% | —% | —% |
Schwab Variable Share Price Money Fund, Ultra Shares | 0.0%* | 0.0%* | 0.1% | 0.1% | 0.1% | 0.0%* | 0.0%* | 0.0%* | 0.0%* | 0.0%* | —% |
* | Less than 0.05% |
5. Board of Trustees:
6. Borrowing from Banks:
Purchases of Securities | Sales of Securities | |
Schwab Target 2010 Index Fund | $16,817,518 | $5,678,599 |
Schwab Target 2015 Index Fund | 25,880,666 | 12,000,081 |
Schwab Target 2020 Index Fund | 83,303,412 | 34,192,042 |
Schwab Target 2025 Index Fund | 172,575,688 | 41,195,139 |
Schwab Target 2030 Index Fund | 226,460,776 | 38,497,056 |
Schwab Target 2035 Index Fund | 114,028,125 | 20,795,299 |
Schwab Target 2040 Index Fund | 155,923,655 | 14,938,472 |
Schwab Target 2045 Index Fund | 79,379,854 | 7,579,332 |
Schwab Target 2050 Index Fund | 86,084,465 | 4,196,686 |
Schwab Target 2055 Index Fund | 51,208,842 | 2,112,095 |
Schwab Target 2060 Index Fund | 63,675,071 | 3,271,504 |
8. Federal Income Taxes:
Schwab Target 2010 Index Fund | Schwab Target 2015 Index Fund | Schwab Target 2020 Index Fund | Schwab Target 2025 Index Fund | Schwab Target 2030 Index Fund | Schwab Target 2035 Index Fund | Schwab Target 2040 Index Fund | |||||||
Tax cost | $36,875,814 | $58,924,685 | $176,649,607 | $282,543,711 | $386,259,346 | $217,032,358 | $280,403,415 | ||||||
Gross unrealized appreciation | $949,196 | $1,500,953 | $2,990,970 | $1,977,337 | $3,016,729 | $1,335,211 | $1,792,301 | ||||||
Gross unrealized depreciation | (1,320,828) | (2,409,021) | (6,675,414) | (19,382,672) | (35,036,876) | (21,786,337) | (33,465,173) | ||||||
Net unrealized appreciation (depreciation) | ($371,632) | ($908,068) | ($3,684,444) | ($17,405,335) | ($32,020,147) | ($20,451,126) | ($31,672,872) |
Schwab Target 2045 Index Fund | Schwab Target 2050 Index Fund | Schwab Target 2055 Index Fund | Schwab Target 2060 Index Fund | ||||
Tax cost | $154,170,999 | $169,034,987 | $98,194,161 | $117,050,430 | |||
Gross unrealized appreciation | $72,012 | $1,445,202 | $393,128 | $202,837 | |||
Gross unrealized depreciation | (18,159,154) | (23,021,327) | (13,778,453) | (16,661,922) | |||
Net unrealized appreciation (depreciation) | ($18,087,142) | ($21,576,125) | ($13,385,325) | ($16,459,085) |
Schwab Target 2010 Index Fund | Schwab Target 2015 Index Fund | Schwab Target 2020 Index Fund | Schwab Target 2025 Index Fund | Schwab Target 2030 Index Fund | Schwab Target 2035 Index Fund | Schwab Target 2040 Index Fund | |||||||
Undistributed ordinary income | $148,495 | $258,315 | $819,288 | $1,049,157 | $1,326,729 | $766,964 | $929,497 | ||||||
Undistributed long-term capital gains | 2,687 | 9,958 | — | 23,021 | 22,993 | 8,980 | 11,374 | ||||||
Net unrealized appreciation (depreciation) on investments | (371,632) | (908,068) | (3,684,444) | (17,405,335) | (32,020,147) | (20,451,126) | (31,672,872) | ||||||
Total | ($220,450) | ($639,795) | ($2,865,156) | ($16,333,157) | ($30,670,425) | ($19,675,182) | ($30,732,001) |
Schwab Target 2045 Index Fund | Schwab Target 2050 Index Fund | Schwab Target 2055 Index Fund | Schwab Target 2060 Index Fund | ||||
Undistributed ordinary income | $501,851 | $524,334 | $296,602 | $349,741 | |||
Undistributed long-term capital gains | 1,837 | — | — | 92 | |||
Net unrealized appreciation (depreciation) on investments | (18,087,142) | (21,576,125) | (13,385,325) | (16,459,085) | |||
Total | ($17,583,454) | ($21,051,791) | ($13,088,723) | ($16,109,252) |
Schwab Target 2010 Index Fund | Schwab Target 2015 Index Fund | Schwab Target 2020 Index Fund | Schwab Target 2025 Index Fund | Schwab Target 2030 Index Fund | Schwab Target 2035 Index Fund | Schwab Target 2040 Index Fund | |
Capital losses deferred | $— | $— | $39,879 | $— | $— | $— | $— |
Schwab Target 2045 Index Fund | Schwab Target 2050 Index Fund | Schwab Target 2055 Index Fund | Schwab Target 2060 Index Fund | |
Capital losses deferred | $— | $— | $— | $— |
Schwab Target 2010 Index Fund | Schwab Target 2015 Index Fund | Schwab Target 2020 Index Fund | Schwab Target 2025 Index Fund | Schwab Target 2030 Index Fund | Schwab Target 2035 Index Fund | Schwab Target 2040 Index Fund | |
Current fiscal year end distributions | |||||||
Ordinary income | $707,888 | $1,202,511 | $3,730,955 | $4,878,544 | $6,622,287 | $3,959,186 | $4,780,237 |
Long-term capital gains | 35,366 | 47,186 | 25,805 | 4,157 | 8,206 | 3,089 | 9,388 |
Prior fiscal year end distributions | |||||||
Ordinary income | $441,923 | $659,128 | $2,272,279 | $2,681,038 | $3,355,176 | $2,075,616 | $2,349,510 |
Long-term capital gains | — | 494 | 3,776 | — | — | — | — |
Schwab Target 2045 Index Fund | Schwab Target 2050 Index Fund | Schwab Target 2055 Index Fund | Schwab Target 2060 Index Fund | |
Current fiscal year end distributions | ||||
Ordinary income | $2,802,217 | $2,976,899 | $1,713,432 | $1,977,345 |
Long-term capital gains | 3,253 | — | — | — |
Prior fiscal year end distributions | ||||
Ordinary income | $1,405,947 | $1,342,563 | $719,620 | $877,604 |
Long-term capital gains | — | — | — | — |
9. Subsequent Events:
San Francisco, California
May 18, 2020
Foreign Tax Credit | Foreign Source Income | |
Schwab Target 2010 Index Fund | $8,324 | $86,519 |
Schwab Target 2015 Index Fund | 16,086 | 167,370 |
Schwab Target 2020 Index Fund | 60,676 | 634,995 |
Schwab Target 2025 Index Fund | 118,472 | 1,202,845 |
Schwab Target 2030 Index Fund | 193,542 | 1,977,127 |
Schwab Target 2035 Index Fund | 128,986 | 1,332,182 |
Schwab Target 2040 Index Fund | 176,637 | 1,811,397 |
Schwab Target 2045 Index Fund | 111,817 | 1,157,568 |
Schwab Target 2050 Index Fund | 125,464 | 1,288,607 |
Schwab Target 2055 Index Fund | 74,910 | 769,477 |
Schwab Target 2060 Index Fund | 87,834 | 909,695 |
Percentage | |
Schwab Target 2010 Index Fund | 17.71 |
Schwab Target 2015 Index Fund | 18.58 |
Schwab Target 2020 Index Fund | 19.67 |
Schwab Target 2025 Index Fund | 26.42 |
Schwab Target 2030 Index Fund | 30.36 |
Schwab Target 2035 Index Fund | 32.80 |
Schwab Target 2040 Index Fund | 35.45 |
Schwab Target 2045 Index Fund | 36.67 |
Schwab Target 2050 Index Fund | 37.23 |
Schwab Target 2055 Index Fund | 38.52 |
Schwab Target 2060 Index Fund | 39.47 |
Schwab Target 2010 Index Fund | $206,218 |
Schwab Target 2015 Index Fund | 379,497 |
Schwab Target 2020 Index Fund | 1,194,063 |
Schwab Target 2025 Index Fund | 2,314,367 |
Schwab Target 2030 Index Fund | 3,706,473 |
Schwab Target 2035 Index Fund | 2,444,423 |
Schwab Target 2040 Index Fund | 3,230,391 |
Schwab Target 2045 Index Fund | 2,006,788 |
Schwab Target 2050 Index Fund | 2,191,221 |
Schwab Target 2055 Index Fund | 1,308,692 |
Schwab Target 2060 Index Fund | 1,537,525 |
Schwab Target 2010 Index Fund | $35,366 |
Schwab Target 2015 Index Fund | 47,186 |
Schwab Target 2020 Index Fund | 25,805 |
Schwab Target 2025 Index Fund | 4,157 |
Schwab Target 2030 Index Fund | 8,206 |
Schwab Target 2035 Index Fund | 3,089 |
Schwab Target 2040 Index Fund | 9,388 |
Schwab Target 2045 Index Fund | 3,253 |
Schwab Target 2050 Index Fund | — |
Schwab Target 2055 Index Fund | — |
Schwab Target 2060 Index Fund | — |
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 (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 99 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 99 | Director (2005 – present), Gilead Sciences, Inc. |
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. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 99 | None |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner (May 2012 – present), Kochis Global (wealth management consulting). | 99 | None |
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 |
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. | 99 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), 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). | 99 | 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. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 99 | Director (2008 – present), KLA-Tencor Corporation |
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). | 99 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder (Mar. 1990 – present), Smith Graham & Co. (investment advisors). | 99 | Director (2012 – present), Eaton Corporation plc |
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) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank; Director (Nov. 2017 – present), Charles Schwab Premier Bank; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 99 | Director (2008 – present), The Charles Schwab Corporation |
Jonathan de St. Paer2 1973 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) | Director (Apr. 2019 – present), President (Oct. 2018 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. | 99 | None |
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) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director (Nov. 2017 – present), Charles Schwab Premier Bank; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc. | 99 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
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), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Trustee and Chief Executive Officer (Apr. 2019 – present) and President (Nov. 2018 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Mark Fischer 1970 Treasurer and Chief Financial 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), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (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.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (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.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (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 (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (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) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), 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, Mr. de St. Paer 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. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. de St. Paer is an Interested Trustee because he owns stock of CSC and is an employee and director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
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. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Schwab Funds
Member SIPC®
Printed on recycled paper.
¹ | State, local, and the Federal Alternative Minimum Tax may apply. Capital gains are not exempt from Federal Taxation. |
² | You could lose money by investing in the Schwab Money Funds. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Because the share price of Schwab Variable Share Price Money Fund will fluctuate, when you sell your shares they may be worth more or less than what you originally paid for them. All Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the Fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in the Schwab Money Funds is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Schwab Money Funds’ sponsor has no legal obligation to provide financial support to the Funds, and you should not expect that the sponsor will provide financial support to the Funds at any time. |
![](https://capedge.com/proxy/N-CSR/0001683863-20-010447/imge5056dd31.jpg)
00244017
Item 2: Code of Ethics.
(a) | Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other persons who perform a similar function, regardless of whether these individuals are employed by Registrant or a third party. |
(c) | During the period covered by the report, no amendments were made to the provisions of this code of ethics. |
(d) | During the period covered by the report, Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics. |
(f)(1) | Registrant has filed this code of ethics as an exhibit pursuant to Item 13(a)(1) of Form N-CSR. |
Item 3: Audit Committee Financial Expert.
Registrant's Board of Trustees has determined that Kiran M. Patel and Kimberly S. Patmore, each currently serving on its audit, compliance and valuation committee, are each an “audit committee financial expert,” as such term is defined in Item 3 of Form N-CSR. Each member of Registrant's audit, compliance and valuation committee is “independent” under the standards set forth in Item 3 of Form N-CSR.
The designation of each of Mr. Patel and Ms. Patmore as an “audit committee financial expert” pursuant to Item 3 of Form N-CSR does not (i) impose upon such individual any duties, obligations, or liability that are greater than the duties, obligations and liability imposed upon such individual as a member of Registrant's audit, compliance and valuation committee or Board of Trustees in the absence of such designation; and (ii) affect the duties, obligations or liability of any other member of Registrant's audit, compliance and valuation committee or Board of Trustees.
Item 4: Principal Accountant Fees and Services.
Registrant is composed of fifty-one series. Eleven series have a fiscal year-end of March 31, whose annual financial statements are reported in Item 1, three series have a fiscal year-end of December 31, thirty-six series have a fiscal year-end of October 31, and one series has a fiscal year-end of February 28. Principal accountant fees disclosed in Items 4(a)-(d) and 4(g) include fees billed for services rendered to the fifty-one operational series based on their respective 2019/2020 fiscal year and fifty-two operational series based on their respective 2018/2019 fiscal years, as applicable.
The following table presents fees billed by the principal accountant in each of the last two fiscal years for the services rendered to the Funds:
(a)Audit Fees | (b) Audit-Related Fees1 | (c) Tax Fees2 | (d) All Other Fees | ||||
Fiscal Year 2019/2020 | Fiscal Year 2018/ 2019 | Fiscal Year 2019/2020 | Fiscal Year 2018/2019 | Fiscal Year 2019/2020 | Fiscal Year 2018/2019 | Fiscal Year 2019/2020 | Fiscal Year 2018/2019 |
$1,517,001 | $1,504,317 | $87,870 | $84,840 | $169,567 | $190,626 | $0 | $0 |
1The nature of the services includes assurance and related services reasonably related to the performance of the audit of financial statements not included in Audit Fees.
2 The nature of the services includes tax compliance, tax advice and tax planning.
(e) (1) Registrant’s audit, compliance and valuation committee does not have pre-approval policies and procedures as described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
(2) There were no services described in each of paragraphs (b) through (d) above (including services required to be approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X) that were approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) Not applicable.
(g) Below are the aggregate non-audit fees billed in each of the last two fiscal years by Registrant’s principal accountant for services rendered to Registrant, to Registrant’s investment adviser, and to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant.
(h) During the past fiscal year, all non-audit services provided by Registrant’s principal accountant to either Registrant’s investment adviser or to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant were pre-approved. Included in the audit, compliance and valuation committee’s pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence.
Item 5: Audit Committee of Listed Registrants.
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.
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) Registrant’s code of ethics (that is the subject of the disclosure required by Item 2(a)) is attached.
(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) A certification for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(b) under the Investment Company Act of 1940, is attached. This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Form N-CSR with the Commission.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Schwab Capital Trust
By: /s/ Jonathan de St. Paer_________
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____
Date: May 18, 2020 ___________
Date: May 18, 2020____________