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)	$994
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	999
Wgt avg mkt cap (mns)	$359,519
Large cap (>$10bn)	91.6%
Mid cap ($2-10bn)	8.4%
Small cap (<$2bn)	0.1%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	25.0 %
MICROSOFT CORP	5.5 %
APPLE INC	5.3 %
AMAZON.COM INC	4.5 %
FACEBOOK	2.0 %
ALPHABET INC. CLASS A	1.6 %
ALPHABET INC. CLASS C	1.5 %
JOHNSON & JOHNSON	1.3 %
BERKSHIRE HATHAWAY INC-CL B	1.2 %
VISA INC-CLASS A SHARES	1.1 %
PROCTER & GAMBLE CO/THE	1.0 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.5 %
	IRELAND	1.4 %
	BRITAIN	1.0 %
	SWITZERLAND	0.3 %
	BERMUDA	0.3 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru June 30)
Year-to-date	1 year	5 years	10 years	Since Incep.
-3.0%	7.3%	--	--	9.1%

Market Correlations
versus...	Beta	R-squared
S&P500	1.02	100%
MSCI EAFE	1.02	85%
MSCI Emg. Mkts.	0.75	71%

Technical Indicators
Recent close	$30.93
30d moving avg.	$30.61
Annualized volatility	18.4%
Short interest (ETF)	0.3%
Relative strength (RSI)	55

Liquidity measures
Avg. volume (thou.)	244
Turnover	0.8%
Bid/Ask (% of price)	0.05%
ADV underlying (mns)	$360,427

Distributions

FINDING ALTERNATIVE FUNDS

Below is a list of 100 potential alternatives to the Schwab 1000 Index ETF 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™:

5.3%

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 Dow Jones U.S. ETF	98.2	20	-15	5.2	-0.1
IWB	iShares Russell 1000 ETF	97.3	15	-10	5.2	-0.1
VONE	Vanguard Russell 1000 ETF	97.0	8	-3	5.3	-0.0
SCHX	Schwab U.S. Large-Cap ETF	96.3	3	2	5.3	+0.0
SCHB	Schwab U.S. Broad Market ETF	94.5	3	2	5.3	-0.0
ITOT	iShares Core S&P Total U.S. Stock Market ETF	94.1	3	2	5.2	-0.1
VTHR	Vanguard Russell 3000 Index Fund	93.8	10	-5	5.1	-0.1
PBUS	Invesco PureBeta MSCI USA ETF	93.8	4	1	5.3	-0.0
IWV	iShares Russell 3000 ETF	93.3	20	-15	5.1	-0.2
VTI	Vanguard Total Stock Market Index Fund	93.3	3	2	5.2	-0.1
SPTM	SPDR Portfolio Total Stock Market ETF	93.1	3	2	5.5	+0.3
BBUS	JP Morgan Betabuilders U.S. Equity ETF	92.8	2	3	5.3	+0.0
VV	Vanguard Large-Cap Index Fund	92.1	4	1	5.3	-0.0
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	90.2	7	-2	5.2	-0.1
IVV	iShares Core S&P 500 ETF	88.9	4	1	5.4	+0.1
SPY	SPDR S&P 500 ETF Trust	88.9	9	-4	5.4	+0.1
SPLG	SPDR Portfolio Large Cap ETF	88.9	3	2	5.4	+0.1
PBP	Invesco S&P 500 BuyWrite ETF	88.9	49	-44	5.0	-0.3
VOO	VANGUARD S&P 500 ETF	88.7	3	2	5.4	+0.1
HSPX	Global X S&P 500 Covered Call ETF	88.7	65	-60	4.9	-0.4
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free ETF	87.1	20	-15	5.4	+0.1
SPXE	ProShares S&P 500 Ex-Energy ETF	86.6	27	-22	5.3	+0.0
ESGV	Vanguard ESG U.S. Stock ETF	84.2	12	-7	5.2	-0.1
SFY	SoFi Select 500 ETF	79.3	0	5	5.2	-0.1
ESGU	iShares MSCI USA ESG Optimized ETF	79.2	15	-10	5.1	-0.2
JHML	John Hancock Multifactor Large Cap ETF	78.8	29	-24	5.6	+0.3
MGC	Vanguard Mega Cap Index Fund	78.5	7	-2	5.2	-0.1
SPXN	ProShares S&P 500 Ex-Financials ETF	77.6	27	-22	5.0	-0.3
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	76.7	20	-15	5.0	-0.3
BKLC	BNY Mellon US Large Cap Core Equity ETF	76.7	0	5	5.2	-0.1
CATH	Global X S&P 500 Catholic Values Custom ETF	76.6	29	-24	5.2	-0.1
SPXV	ProShares S&P 500 Ex-Health Care ETF	76.1	27	-22	5.0	-0.3
TILT	Flexshares Morningstar US Market Factors Tilt Index Fund	75.6	25	-20	6.7	+1.4
IWL	iShares Russell Top 200 ETF	75.0	15	-10	5.0	-0.3
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	74.1	9	-4	5.6	+0.3
MMTM	SPDR S&P 1500 Momentum Tilt ETF	71.7	12	-7	4.9	-0.4
AVUS	Avantis U.S. Equity ETF	71.6	15	-10	5.8	+0.5
EPS	WisdomTree U.S. Earnings 500 Fund	71.2	8	-3	6.5	+1.2
TOK	iShares MSCI Kokusai ETF	70.1	25	-20	5.6	+0.3
KOKU	Xtrackers MSCI Kokusai Equity ETF	70.1	9	-4	5.7	+0.4
SNPE	Xtrackers S&P 500 ESG ETF	68.3	11	-6	5.1	-0.2
IUSG	iShares Core S&P US Growth ETF	67.5	4	1	4.3	-1.0
FNDB	Schwab Fundamental U.S. Broad Market Index ETF	67.0	25	-20	6.6	+1.3
PRF	Invesco FTSE RAFI US 1000 ETF	66.7	39	-34	6.9	+1.6
IQSU	IQ Candriam ESG US Equity ETF	66.2	9	-4	5.1	-0.2
FNDX	Schwab Fundamental U.S. Large Co. Index ETF	66.2	25	-20	6.6	+1.3
SPYG	SPDR Portfolio S&P 500 Growth ETF	64.9	4	1	4.3	-1.0
IVW	iShares S&P 500 Growth ETF	64.9	18	-13	4.2	-1.1
VOOG	Vanguard S&P 500 Growth ETF	64.7	10	-5	4.2	-1.1
URTH	iShares MSCI World ETF	64.7	24	-19	5.7	+0.4
QUS	SPDR MSCI USA StrategicFactors ETF	64.5	15	-10	5.9	+0.6
SPXT	ProShares S&P 500 Ex-Technology ETF	64.3	27	-22	5.7	+0.4
VONG	Vanguard Russell 1000 Growth Index Fund	63.1	8	-3	4.2	-1.1
ESG	FlexShares STOXX US ESG Impact Index Fund	61.5	32	-27	5.1	-0.2
IUS	Invesco Strategic US ETF	60.9	19	-14	6.7	+1.4
OEF	iShares S&P 100 ETF	59.7	20	-15	4.8	-0.5
DIVB	iShares U.S. Dividend & Buyback ETF	59.1	25	-20	6.6	+1.3
VLU	SPDR S&P 1500 Value Tilt ETF	58.8	12	-7	7.5	+2.3
XOUT	GraniteShares XOUT U.S. Large Cap ETF	58.3	60	-55	4.4	-0.9
DTD	WisdomTree U.S.Total Dividend Fund	58.0	28	-23	6.7	+1.4
DYNF	BlackRock U.S. Equity Factor Rotation ETF	58.0	30	-25	6.6	+1.3
IWF	iShares Russell 1000 Growth ETF	57.7	19	-14	4.1	-1.2
ACWI	iShares MSCI ACWI ETF	56.6	32	-27	5.9	+0.6
SCHG	Schwab U.S. Large-Cap Growth ETF	56.4	4	1	4.1	-1.2
DLN	WisdomTree U.S. LargeCap Dividend Fund	55.5	28	-23	6.4	+1.1
RWL	Invesco S&P 500 Revenue ETF	55.5	39	-34	7.3	+2.0
CRBN	iShares MSCI ACWI Low Carbon Target ETF	55.4	20	-15	6.1	+0.8
PLC	Principal U.S. Large-Cap Multi-Factor Core Index ETF	55.2	15	-10	6.2	+0.9
EXT	WisdomTree U.S. Total Earnings Fund	55.1	28	-23	5.2	-0.0
LOWC	SPDR MSCI ACWI Low Carbon Target ETF	55.1	20	-15	6.1	+0.8
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	55.0	29	-24	6.3	+1.0
IWD	iShares Russell 1000 Value ETF	54.5	19	-14	7.2	+2.0
VUG	Vanguard Growth Index Fund	54.4	4	1	4.0	-1.3
VT	Vanguard Total World Stock Index Fund	53.1	8	-3	6.2	+0.9
ESGG	FlexShares STOXX Global ESG Impact Index Fund	53.1	42	-37	5.4	+0.1
IUSV	iShares Core S&P U.S. Value ETF	52.5	4	1	7.6	+2.3
RECS	Columbia Research Enhanced Core ETF	51.9	15	-10	5.7	+0.4
NACP	Impact Shares NAACP Minority Empowerment ETF	50.8	75	-70	4.5	-0.8
VOOV	Vanguard S&P 500 Value ETF	50.4	15	-10	7.4	+2.1
SPYV	SPDR Portfolio S&P 500 Value ETF	50.4	4	1	7.5	+2.2
IVE	iShares S&P 500 Value ETF	50.4	18	-13	7.3	+2.0
DSI	iShares MSCI KLD 400 Social ETF	50.2	25	-20	5.1	-0.1
QRFT	Qraft Ai-Enhanced U.S. Large Cap ETF	49.9	75	-70	3.8	-1.5
XLG	Invesco S&P 500 Top 50 ETF	49.8	20	-15	4.4	-0.9
AFLG	First Trust Active Factor Large Cap ETF	49.7	55	-50	5.6	+0.3
IWY	iShares Russell Top 200 Growth ETF	49.1	20	-15	4.1	-1.2
QWLD	SPDR MSCI World StrategicFactors ETF	48.9	30	-25	6.2	+0.9
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	48.9	9	-4	5.9	+0.7
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	48.8	9	-4	6.0	+0.7
WOMN	Impact Shares YWCA Women's Empowerment ETF	48.6	75	-70	4.5	-0.8
VEGN	US Vegan Climate ETF	47.9	60	-55	5.2	-0.1
KRMA	Global X Conscious Companies ETF	47.8	43	-38	5.2	-0.1
SUSL	iShares ESG MSCI USA Leaders ETF	47.4	10	-5	5.3	+0.0
DGRO	iShares Core Dividend Growth ETF	47.4	8	-3	6.7	+1.4
USSG	Xtrackers MSCI USA ESG Leaders Equity ETF	47.3	10	-5	5.3	+0.0
HIPR	Direxion High Growth ETF	47.2	40	-35	2.8	-2.5
VONV	Vanguard Russell 1000 Value Index Fund	46.6	8	-3	7.4	+2.1
EUSA	iShares MSCI USA Equal Weighted ETF	46.5	15	-10	6.3	+1.1
RSP	Invesco S&P 500 Equal Weight ETF	46.4	20	-15	6.8	+1.5
MGK	Vanguard Mega Cap Growth ETF	46.3	7	-2	4.1	-1.2

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

	2015	2016	2017	2018	2019	2020E	2021E
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

	2019	2020E	2021E
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 ETF
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	16.2	%
Divided by: Fwd. P/BV	3.0	x
Less: Expense ratio	5	bp
Equals: ALTAR Score	5.3	%

More information on ALTAR Score™

MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS

COMPOSITE RATING	1.44	CATEGORY AVERAGE	1.52

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.