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)	$1,068
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	993
Wgt avg mkt cap (mns)	$396,076
Large cap (>$10bn)	92.0%
Mid cap ($2-10bn)	7.8%
Small cap (<$2bn)	0.1%
Developed mkts	100.0%
Emerging mkts	0.0%

TOP TEN HOLDINGS
Total	24.6 %
APPLE INC	5.8 %
MICROSOFT CORP	5.1 %
AMAZON.COM INC	4.2 %
FACEBOOK	2.0 %
ALPHABET INC. CLASS A	1.4 %
ALPHABET INC. CLASS C	1.4 %
BERKSHIRE HATHAWAY INC-CL B	1.4 %
JOHNSON & JOHNSON	1.3 %
PROCTER & GAMBLE CO/THE	1.1 %
VISA INC-CLASS A SHARES	1.1 %

TOP COUNTRY EXPOSURE
	UNITED STATES	96.8 %
	IRELAND	1.6 %
	BRITAIN	1.0 %
	SWITZERLAND	0.3 %
	BERMUDA	0.3 %

HISTORICAL PERFORMANCE info

	Custom date range	Compare to
	thru

Standardized Annual Returns (thru August 31)
Year-to-date	1 year	5 years	10 years	Since Incep.
10.2%	22.1%	--	--	13.5%

Market Correlations
versus...	Beta	R-squared
S&P500	1.02	100%
MSCI EAFE	1.03	85%
MSCI Emg. Mkts.	0.74	70%

Technical Indicators
Recent close	$31.78
30d moving avg.	$33.50
Annualized volatility	18.4%
Short interest (ETF)	0.3%
Relative strength (RSI)	49

Liquidity measures
Avg. volume (thou.)	175
Turnover	0.5%
Bid/Ask (% of price)	0.04%
ADV underlying (mns)	$32,551

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™:

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 (%)
IYY	iShares Dow Jones U.S. ETF	99.0	20	-15	5.9	-0.1
IWB	iShares Russell 1000 ETF	97.9	15	-10	5.9	-0.2
SCHX	Schwab U.S. Large-Cap ETF	96.5	3	2	6.1	+0.0
VONE	Vanguard Russell 1000 ETF	96.4	8	-3	5.9	-0.1
SCHB	Schwab U.S. Broad Market ETF	95.2	3	2	5.9	-0.1
VTHR	Vanguard Russell 3000 Index Fund	95.2	10	-5	5.8	-0.3
ITOT	iShares Core S&P Total U.S. Stock Market ETF	94.9	3	2	5.9	-0.1
PBUS	Invesco PureBeta MSCI USA ETF	94.0	4	1	6.1	+0.1
IWV	iShares Russell 3000 ETF	93.6	20	-15	5.7	-0.3
SPTM	SPDR Portfolio Total Stock Market ETF	93.2	3	2	6.3	+0.3
VV	Vanguard Large-Cap Index Fund	92.3	4	1	6.0	-0.0
BBUS	JP Morgan Betabuilders U.S. Equity ETF	90.6	2	3	6.1	+0.1
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	90.5	7	-2	6.1	+0.1
VTI	Vanguard Total Stock Market Index Fund	89.9	3	2	5.8	-0.3
XYLG	Global X S&P 500 Covered Call & Growth ETF	89.0	60	-55	5.8	-0.2
IVV	iShares Core S&P 500 ETF	89.0	3	2	6.3	+0.2
SPY	SPDR S&P 500 ETF Trust	89.0	9	-4	6.2	+0.2
SPLG	SPDR Portfolio Large Cap ETF	89.0	3	2	6.2	+0.2
PBP	Invesco S&P 500 BuyWrite ETF	89.0	49	-44	5.8	-0.2
VOO	VANGUARD S&P 500 ETF	89.0	3	2	6.2	+0.2
HSPX	Global X S&P 500 Covered Call ETF	88.7	60	-55	5.7	-0.3
SPYX	SPDR S&P 500 Fossil Fuel Reserves Free ETF	87.4	20	-15	6.2	+0.2
SPXE	ProShares S&P 500 Ex-Energy ETF	86.4	27	-22	6.2	+0.1
ESGV	Vanguard ESG U.S. Stock ETF	84.6	12	-7	6.0	-0.0
SFY	SoFi Select 500 ETF	78.9	0	5	5.7	-0.3
MGC	Vanguard Mega Cap Index Fund	78.4	7	-2	6.1	+0.1
ESGU	iShares MSCI USA ESG Optimized ETF	78.3	15	-10	5.9	-0.1
JHML	John Hancock Multifactor Large Cap ETF	78.2	29	-24	6.1	+0.1
SPXN	ProShares S&P 500 Ex-Financials ETF	77.4	27	-22	5.9	-0.1
CATH	Global X S&P 500 Catholic Values Custom ETF	76.4	29	-24	6.1	+0.1
JUST	Goldman Sachs JUST U.S. Large Cap Equity ETF	76.4	20	-15	5.8	-0.2
SPXV	ProShares S&P 500 Ex-Health Care ETF	75.7	27	-22	5.9	-0.1
TILT	Flexshares Morningstar US Market Factors Tilt Index Fund	75.3	25	-20	7.0	+1.0
IWL	iShares Russell Top 200 ETF	75.1	15	-10	5.9	-0.1
BKLC	BNY Mellon US Large Cap Core Equity ETF	74.8	0	5	6.2	+0.2
GSLC	Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF	73.7	9	-4	6.3	+0.3
MMTM	SPDR S&P 1500 Momentum Tilt ETF	71.9	12	-7	6.4	+0.4
EPS	WisdomTree U.S. Earnings 500 Fund	71.6	8	-3	7.4	+1.3
TOK	iShares MSCI Kokusai ETF	70.4	25	-20	6.1	+0.1
AVUS	Avantis U.S. Equity ETF	70.0	15	-10	6.3	+0.3
SNPE	Xtrackers S&P 500 ESG ETF	68.0	10	-5	6.2	+0.2
IUSG	iShares Core S&P US Growth ETF	67.9	4	1	6.0	-0.1
PRF	Invesco FTSE RAFI US 1000 ETF	67.2	39	-34	7.5	+1.4
FNDB	Schwab Fundamental U.S. Broad Market Index ETF	67.1	25	-20	7.5	+1.5
IQSU	IQ Candriam ESG US Equity ETF	66.7	9	-4	6.3	+0.3
FNDX	Schwab Fundamental U.S. Large Co. Index ETF	66.4	25	-20	7.5	+1.5
VOOG	Vanguard S&P 500 Growth ETF	65.6	10	-5	6.0	-0.1
IVW	iShares S&P 500 Growth ETF	65.3	18	-13	5.9	-0.1
SPYG	SPDR Portfolio S&P 500 Growth ETF	65.2	4	1	6.0	0.0
QUS	SPDR MSCI USA StrategicFactors ETF	64.6	15	-10	6.3	+0.3
SPXT	ProShares S&P 500 Ex-Technology ETF	63.6	27	-22	5.7	-0.3
URTH	iShares MSCI World ETF	62.9	24	-19	6.2	+0.2
IUS	Invesco Strategic US ETF	61.6	19	-14	7.2	+1.2
XOUT	GraniteShares XOUT U.S. Large Cap ETF	61.6	60	-55	5.5	-0.5
ESG	FlexShares STOXX US ESG Impact Index Fund	61.3	32	-27	5.8	-0.2
DYNF	BlackRock U.S. Equity Factor Rotation ETF	61.0	30	-25	6.8	+0.8
DIVB	iShares U.S. Dividend & Buyback ETF	59.6	25	-20	7.4	+1.3
OEF	iShares S&P 100 ETF	59.4	20	-15	6.0	-0.0
VLU	SPDR S&P 1500 Value Tilt ETF	59.4	12	-7	7.9	+1.8
DTD	WisdomTree U.S.Total Dividend Fund	58.2	28	-23	7.4	+1.3
IWF	iShares Russell 1000 Growth ETF	58.1	19	-14	5.7	-0.3
VONG	Vanguard Russell 1000 Growth Index Fund	57.9	8	-3	5.8	-0.2
SCHG	Schwab U.S. Large-Cap Growth ETF	56.9	4	1	5.7	-0.3
ACWI	iShares MSCI ACWI ETF	56.7	32	-27	6.3	+0.3
DLN	WisdomTree U.S. LargeCap Dividend Fund	55.6	28	-23	7.2	+1.2
CRBN	iShares MSCI ACWI Low Carbon Target ETF	55.6	20	-15	6.6	+0.5
MFUS	PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	55.0	29	-24	6.5	+0.5
EFIV	SPDR S&P 500 ESG ETF	54.8	10	-5	6.2	+0.2
PLC	Principal U.S. Large-Cap Multi-Factor Core Index ETF	54.7	15	-10	7.2	+1.1
IWD	iShares Russell 1000 Value ETF	54.6	19	-14	7.1	+1.1
VONV	Vanguard Russell 1000 Value Index Fund	54.6	8	-3	7.2	+1.2
VUG	Vanguard Growth Index Fund	54.5	4	1	5.7	-0.3
RWL	Invesco S&P 500 Revenue ETF	54.4	39	-34	7.6	+1.6
EXT	WisdomTree U.S. Total Earnings Fund	54.0	28	-23	6.3	+0.2
ESGG	FlexShares STOXX Global ESG Impact Index Fund	53.0	42	-37	6.1	+0.1
IUSV	iShares Core S&P U.S. Value ETF	52.6	4	1	7.7	+1.6
VT	Vanguard Total World Stock Index Fund	52.6	8	-3	6.6	+0.6
AFLG	First Trust Active Factor Large Cap ETF	51.7	55	-50	6.5	+0.5
VOOV	Vanguard S&P 500 Value ETF	50.6	10	-5	7.5	+1.5
IVE	iShares S&P 500 Value ETF	50.6	18	-13	7.4	+1.4
SPYV	SPDR Portfolio S&P 500 Value ETF	50.5	4	1	7.6	+1.6
DSI	iShares MSCI KLD 400 Social ETF	50.3	25	-20	5.2	-0.8
XLG	Invesco S&P 500 Top 50 ETF	49.4	20	-15	6.0	-0.0
RECS	Columbia Research Enhanced Core ETF	49.4	15	-10	6.7	+0.7
IWY	iShares Russell Top 200 Growth ETF	49.4	20	-15	6.3	+0.3
NACP	Impact Shares NAACP Minority Empowerment ETF	49.2	75	-70	5.8	-0.2
QWLD	SPDR MSCI World StrategicFactors ETF	49.0	30	-25	6.5	+0.5
SPGM	SPDR Portfolio MSCI Global Stock Market ETF	48.6	9	-4	6.4	+0.3
VEGN	US Vegan Climate ETF	48.3	60	-55	5.9	-0.1
GSEW	Goldman Sachs Equal Weight U.S. Large Cap Equity ETF	48.2	9	-4	6.2	+0.2
WOMN	Impact Shares YWCA Women's Empowerment ETF	48.2	75	-70	5.3	-0.7
DGRO	iShares Core Dividend Growth ETF	48.0	8	-3	7.1	+1.1
LOWC	SPDR MSCI ACWI Low Carbon Target ETF	47.8	20	-15	6.6	+0.5
SIZE	iShares Edge MSCI USA Size Factor ETF	47.6	15	-10	6.4	+0.3
SUSL	iShares ESG MSCI USA Leaders ETF	47.3	10	-5	5.4	-0.6
QARP	Xtrackers Russell 1000 US Quality at a Reasonable Price ETF	47.3	19	-14	6.9	+0.9
EUSA	iShares MSCI USA Equal Weighted ETF	47.2	15	-10	6.4	+0.4
USSG	Xtrackers MSCI USA ESG Leaders Equity ETF	47.2	10	-5	5.4	-0.6
QRFT	Qraft Ai-Enhanced U.S. Large Cap ETF	46.9	75	-70	4.2	-1.8
ROUS	Hartford Multifactor US Equity ETF	46.8	19	-14	6.7	+0.6

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	18.1	%
Divided by: Fwd. P/BV	3.0	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	1.44	CATEGORY AVERAGE	1.51

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.