ETF Research Center

Schwab U.S. Large-Cap Growth ETF is an exchange-traded fund incorporated in the USA. The Fund's goal is to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Large-Cap Growth Total Stock Market Index.

FUND BASICS
Category	US Equities
Fund Sponsor	Charles Schwab Investment Management Inc
Website	www.schwab.com/etf
Inception date	Dec 11, 2009
Assets (mns)	$9,767
Currency	USD
Expense ratio	4 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian	State Street Bank & Trust
Weighting	Market Cap
Index replication	Full
Uses derivatives	No
Options available	Yes

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	351
Wgt avg mkt cap (mns)	$430,073
Large cap (>$10bn)	95.2%
Mid cap ($2-10bn)	4.8%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	40.1 %
APPLE INC	8.6 %
MICROSOFT CORP	8.3 %
AMAZON.COM INC	5.0 %
FACEBOOK	3.5 %
BERKSHIRE HATHAWAY INC-CL B	2.9 %
ALPHABET INC. CLASS A	2.9 %
ALPHABET INC. CLASS C	2.9 %
VISA INC-CLASS A SHARES	2.3 %
MASTERCARD INC-CLASS A	1.9 %
UNITEDHEALTH GROUP INC	1.8 %

TOP COUNTRY EXPOSURE
	UNITED STATES	97.1 %
	BRITAIN	1.5 %
	IRELAND	1.1 %
	BERMUDA	0.3 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru December 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
36.0%	36.0%	13.6%	--	14.8%

Market Correlations
versus...	Beta	R-squared
S&P500	1.04	95%
MSCI EAFE	0.95	66%
MSCI Emg. Mkts.	0.64	51%

Technical Indicators
Recent close	$97.57
30d moving avg.	$93.13
Annualized volatility	13.0%
Short interest (ETF)	0.1%
Short interest (Underlying)	2.9%
Relative strength (RSI)	81

Liquidity measures
Avg. volume (thou.)	314
Turnover	0.3%
Bid/Ask (% of price)	0.02%
ADV underlying (mns)	$98,335

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Schwab U.S. Large-Cap Growth ETF based on the alternatives' overlap in portfolio holdings with SCHG. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

SCHG

Expense:

4 bp

ALTAR Score™:

4.5%

ALTERNATIVE ETFs BASED ON OVERLAP WITH SCHG
Ticker	Fund Name	Overlap¹ vs SCHG (%)	Expense ratio (bp)	Savings vs SCHG (bp)	ALTAR Score™ (%)	ALTAR vs SCHG (%)
VUG	Vanguard Growth ETF	79.0	4	0	4.5	0.0
VONG	Vanguard Russell 1000 Growth	75.2	12	-8	4.7	+0.2
IWF	iShares Russell 1000 Growth	75.0	19	-15	4.6	+0.1
SPYG	SPDR Portfolio S&P 500 Growth	70.6	4	0	4.7	+0.2
IVW	iShares S&P 500 Growth	70.6	18	-14	4.5	+0.1
IUSG	iShares Core U.S. Growth	69.9	4	0	4.7	+0.2
MGK	Vanguard Mega Cap 300 Growth	67.4	7	-3	4.6	+0.1
IWY	iShares Russell Top 200 Growth	64.1	20	-16	4.6	+0.1
TMFC	Motley Fool 100 Index	62.6	50	-46	4.0	-0.5
VOOG	Vanguard S&P 500 Growth	61.3	15	-11	4.6	+0.1
XOUT	GraniteShares XOUT US Large Cap	60.0	60	-56	4.7	+0.2
OQAL	Invesco Russell 1000 Quality Factor ETF	59.7	19	-15	4.9	+0.4
OMOM	Invesco Russell 1000 Momentum Factor ETF	59.0	19	-15	5.0	+0.5
IETC	iShares Evolved U.S. Technology	56.0	18	-14	4.3	-0.2
SFY	SoFi Select 500	54.6	0	4	5.2	+0.7
SPXN	ProShares S&P 500 Ex-Financials	53.8	27	-23	5.5	+1.0
IGM	iShares S&P N. American Technology	52.8	46	-42	4.1	-0.4
IWL	iShares Russell Top 200	52.8	15	-11	5.3	+0.8
SPXE	ProShares S&P 500 Ex-Energy	52.4	27	-23	5.5	+1.0
PBP	Invesco S&P 500 Buy/Write	52.2	49	-45	5.2	+0.7

¹Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

	2014	2015	2016	2017	2018	2019E	2020E
Sales per share	**	**	**	**	**	**	**
Earnings per share	**	**	**	**	**	**	**
Dividends per share	**	**	**	**	**	**	**
Book value per share	**	**	**	**	**	**	**

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

Sales per share growth		**%	**%	**%	**%	**%	**%
EPS growth		**%	**%	**%	**%	**%	**%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est.	**%		Debt-to-equity	**x
Asset turnover	**%		Assets-to-equity	**x

Return on equity

Revision activity*

*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS

	2018	2019E	2020E
Price-to-sales	**	**	**
Price-to-earnings	**	**	**
Price-to-cash flow	**	**	**
Price-to-growth	**	**	**
Price-to-book value	**	**	**
Yield	**	**	**

Historical valuation trends

Forward multiple:	Schwab U.S. Large-Cap Growth
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

UNDERWEIGHT

Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	20.8	%
Divided by: Fwd. P/BV	4.6	x
Less: Expense ratio	4	bp
Equals: ALTAR Score	4.5	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.38	CATEGORY AVERAGE	1.55

The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale: BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3. Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.