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)	$853
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	987
Wgt avg mkt cap (mns)	$233,169
Large cap (>$10bn)	90.3%
Mid cap ($2-10bn)	9.6%
Small cap (<$2bn)	0.1%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	19.5 %
MICROSOFT CORP	3.8 %
APPLE INC	3.6 %
AMAZON.COM INC	2.6 %
FACEBOOK	1.6 %
BERKSHIRE HATHAWAY INC-CL B	1.5 %
JPMORGAN CHASE & CO	1.4 %
ALPHABET INC. CLASS C	1.4 %
ALPHABET INC. CLASS A	1.3 %
JOHNSON & JOHNSON	1.2 %
VISA INC-CLASS A SHARES	1.1 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.1 %
	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 September 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
20.6%	3.8%	--	--	9.7%

Market Correlations
versus...	Beta	R-squared
S&P500	1.01	100%
MSCI EAFE	1.03	77%
MSCI Emg. Mkts.	0.75	63%

Technical Indicators
Recent close	$29.31
30d moving avg.	$29.18
Annualized volatility	14.9%
Short interest (ETF)	0.1%
Relative strength (RSI)	52

Liquidity measures
Avg. volume (thou.)	75
Turnover	0.3%
Bid/Ask (% of price)	0.05%
ADV underlying (mns)	$177,156

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™:

6.0%

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 (%)
IWB	iShares Russell 1000	97.7	15	-10	5.9	-0.1
IYY	iShares DJ US Total Market	97.6	20	-15	5.8	-0.2
VONE	Vanguard Russell 1000	97.5	12	-7	5.9	-0.0
SCHX	Schwab U.S. Large-Cap	96.4	3	2	6.0	-0.0
SCHB	Schwab U.S. Broad Market	93.4	3	2	5.9	-0.1
IWV	iShares Russell 3000	93.1	20	-15	5.7	-0.3
ITOT	iShares Core S&P Total US	93.0	3	2	5.8	-0.2
VTHR	Vanguard Russell 3000	93.0	15	-10	5.8	-0.2
VTI	Vanguard Total Market	92.8	3	2	5.8	-0.1
BBUS	JP Morgan Betabuilders U.S. Equity	92.5	2	3	6.0	+0.0
PBUS	Invesco PureBeta MSCI USA	92.3	4	1	6.1	+0.1
VV	Vanguard Large-Cap ETF	91.6	4	1	6.0	+0.1
SPTM	SPDR Portfolio Total Stock Market	90.3	3	2	5.9	-0.1
IVV	iShares Core S&P 500	89.3	4	1	6.1	+0.1
SPY	S&P 500 SPDR	89.3	9	-4	6.1	+0.1
VOO	Vanguard S&P 500 ETF	89.0	3	2	6.1	+0.1
HSPX	Global X S&P 500 Covered Call	89.0	65	-60	5.5	-0.5
SPLG	SPDR Portfolio Large Cap	89.0	3	2	6.0	-0.0
PBP	Invesco S&P 500 Buy/Write	88.9	49	-44	5.6	-0.4
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free	86.1	20	-15	6.1	+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	16.8	%
Divided by: Fwd. P/BV	2.8	x
Less: Expense ratio	5	bp
Equals: ALTAR Score	6.0	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.48	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.