ETF Research Center

The Schwab 1000 Index ETF tracks a proprietary market-cap-weighted index that includes 1000 of the largest US-listed stocks.

FUND BASICS
Category	US Equities
Fund Sponsor	Charles Schwab
Website	www.schwabfunds.com
Inception date	Oct 11, 2017
Assets (mns)	$985
Currency	USD
Expense ratio	5 bp
Distributions	Quarterly

FUND STRUCTURE
Regulation	Open-Ended Fund
Custodian
Weighting	Market Cap
Index replication
Uses derivatives	No
Options available	No

SECTOR BREAKDOWN

CONSTITUENT BREAKDOWN
No. of constituents	982
Wgt avg mkt cap (mns)	$278,576
Large cap (>$10bn)	91.4%
Mid cap ($2-10bn)	8.6%
Small cap (<$2bn)	0.1%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	20.9 %
APPLE INC	4.3 %
MICROSOFT CORP	4.1 %
AMAZON.COM INC	2.5 %
FACEBOOK	1.7 %
BERKSHIRE HATHAWAY INC-CL B	1.5 %
ALPHABET INC. CLASS A	1.4 %
ALPHABET INC. CLASS C	1.4 %
JPMORGAN CHASE & CO	1.4 %
JOHNSON & JOHNSON	1.3 %
VISA INC-CLASS A SHARES	1.1 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.2 %
	IRELAND	1.8 %
	BRITAIN	1.1 %
	SWITZERLAND	0.4 %
	BERMUDA	0.3 %
	PUERTO RICO	0.0 %
	CAYMAN ISLANDS	0.0 %
	NETHERLANDS	0.0 %
	LUXEMBOURG	0.0 %

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.
31.3%	31.3%	--	--	12.9%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	100%
MSCI EAFE	1.00	75%
MSCI Emg. Mkts.	0.68	58%

Technical Indicators
Recent close	$32.60
30d moving avg.	$31.48
Annualized volatility	14.2%
Short interest (ETF)	0.0%
Relative strength (RSI)	80

Liquidity measures
Avg. volume (thou.)	107
Turnover	0.4%
Bid/Ask (% of price)	0.04%
ADV underlying (mns)	$171,626

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 20 potential alternatives to the Schwab 1000 Index ETF based on the alternatives' overlap in portfolio holdings with SCHK. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker:

SCHK

Expense:

5 bp

ALTAR Score™:

5.4%

ALTERNATIVE ETFs BASED ON OVERLAP WITH SCHK
Ticker	Fund Name	Overlap¹ vs SCHK (%)	Expense ratio (bp)	Savings vs SCHK (bp)	ALTAR Score™ (%)	ALTAR vs SCHK (%)
IYY	iShares DJ US Total Market	97.6	20	-15	5.3	-0.2
IWB	iShares Russell 1000	97.6	15	-10	5.3	-0.1
VONE	Vanguard Russell 1000	97.5	12	-7	5.4	-0.0
SCHX	Schwab U.S. Large-Cap	96.5	3	2	5.4	-0.0
SCHB	Schwab U.S. Broad Market	93.5	3	2	5.4	-0.1
VTHR	Vanguard Russell 3000	93.3	15	-10	5.3	-0.2
PBUS	Invesco PureBeta MSCI USA	93.3	4	1	5.6	+0.1
BBUS	JP Morgan Betabuilders U.S. Equity	93.1	2	3	5.5	+0.0
ITOT	iShares Core S&P Total US	93.1	3	2	5.3	-0.1
IWV	iShares Russell 3000	93.0	20	-15	5.2	-0.3
VTI	Vanguard Total Market	92.8	3	2	5.3	-0.1
VV	Vanguard Large-Cap ETF	91.7	4	1	5.5	+0.0
SPTM	SPDR Portfolio Total Stock Market	90.7	3	2	5.3	-0.1
IVV	iShares Core S&P 500	89.6	4	1	5.5	+0.1
SPY	S&P 500 SPDR	89.6	9	-4	5.5	+0.1
PBP	Invesco S&P 500 Buy/Write	89.6	49	-44	5.2	-0.2
HSPX	Global X S&P 500 Covered Call	89.3	65	-60	5.0	-0.4
VOO	Vanguard S&P 500 ETF	89.2	3	2	5.6	+0.2
SPLG	SPDR Portfolio Large Cap	88.8	3	2	5.4	-0.1
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free	86.3	20	-15	5.5	+0.1

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 1000 Index
Relative to:	S&P500	MSCI EAFE	MSCI Emg. Mkts.	Other ETF:

NEUTRAL

Average appreciation potential. A rating of NEUTRAL is assigned to ETFs with ALTAR Scores in the middle quintile (ranking between 40%-60%) of their category. This indicates that valuations adequately reflect the fundamentals of stocks in these funds.

ALTAR Score™

Calculation of ALTAR Score™
Avg. Return on Equity	16.7	%
Divided by: Fwd. P/BV	3.1	x
Less: Expense ratio	5	bp
Equals: ALTAR Score	5.4	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.49	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.