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)	$8,618
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	353
Wgt avg mkt cap (mns)	$372,705
Large cap (>$10bn)	93.8%
Mid cap ($2-10bn)	6.2%
Small cap (<$2bn)	0.0%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	39.0 %
MICROSOFT CORP	8.0 %
APPLE INC	7.9 %
AMAZON.COM INC	5.3 %
FACEBOOK	3.3 %
BERKSHIRE HATHAWAY INC-CL B	3.1 %
ALPHABET INC. CLASS C	2.8 %
ALPHABET INC. CLASS A	2.8 %
VISA INC-CLASS A SHARES	2.2 %
HOME DEPOT INC	1.8 %
WALT DISNEY CO/THE	1.8 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.9 %
	BRITAIN	1.5 %
	IRELAND	1.0 %
	BERMUDA	0.3 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru October 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
26.6%	17.0%	12.6%	--	14.3%

Market Correlations
versus...	Beta	R-squared
S&P500	1.03	94%
MSCI EAFE	0.91	62%
MSCI Emg. Mkts.	0.64	50%

Technical Indicators
Recent close	$88.62
30d moving avg.	$85.74
Annualized volatility	12.9%
Short interest (ETF)	0.1%
Short interest (Underlying)	2.9%
Relative strength (RSI)	73

Liquidity measures
Avg. volume (thou.)	399
Turnover	0.4%
Bid/Ask (% of price)	0.03%
ADV underlying (mns)	$87,872

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™:

4.9%

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	78.3	4	0	4.9	-0.1
IWF	iShares Russell 1000 Growth	74.3	19	-15	5.0	+0.1
VONG	Vanguard Russell 1000 Growth	73.8	12	-8	5.1	+0.1
MGK	Vanguard Mega Cap 300 Growth	66.8	7	-3	5.0	+0.1
IWY	iShares Russell Top 200 Growth	63.3	20	-16	5.1	+0.2
TMFC	Motley Fool 100 Index	61.6	50	-46	4.4	-0.5
SPYG	SPDR Portfolio S&P 500 Growth	61.1	4	0	5.1	+0.2
IVW	iShares S&P 500 Growth	61.1	18	-14	5.0	+0.0
VOOG	Vanguard S&P 500 Growth	61.1	15	-11	5.0	+0.0
IUSG	iShares Core U.S. Growth	60.6	4	0	5.1	+0.2
XOUT	GraniteShares XOUT US Large Cap	58.7	60	-56	5.2	+0.2
OQAL	Invesco Russell 1000 Quality Factor ETF	58.0	19	-15	5.3	+0.4
IETC	iShares Evolved U.S. Technology	53.9	18	-14	4.8	-0.1
SFY	SoFi Select 500	53.4	0	4	5.7	+0.7
SPXN	ProShares S&P 500 Ex-Financials	52.3	27	-23	5.9	+1.0
OMOM	Invesco Russell 1000 Momentum Factor ETF	52.1	19	-15	5.3	+0.4
IWL	iShares Russell Top 200	51.2	15	-11	5.7	+0.8
XLG	Invesco S&P Top 50	51.2	20	-16	5.2	+0.2
IGM	iShares S&P N. American Technology	51.0	46	-42	4.6	-0.3
SPXE	ProShares S&P 500 Ex-Energy	50.8	27	-23	5.9	+1.0

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	21.0	%
Divided by: Fwd. P/BV	4.2	x
Less: Expense ratio	4	bp
Equals: ALTAR Score	4.9	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.39	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.