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Schwab ETFs feature low expenses and commission-free online trading*
Each Schwab ETF is designed to be a core building block for a diversified portfolio. Schwab ETFs offer among the lowest expense ratios in the industry — and they are commission-free* for clients who trade them online through their Schwab accounts.
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Schwab Exchange-Traded Funds
Active Semi-Transparent (also known as Non-Transparent) ETFs
| SAEF | Schwab Ariel ESG ETF Russell 2500 Index | Net Asset Value $26.04 | Expense Ratio 0.59% |
| ETF Strategy: The investment seeks long-term capital appreciation. The fund invests primarily in exchange-traded equity securities of U.S. companies that have been evaluated based on certain environmental, social and governance (ESG) criteria. It typically invests in exchange-traded securities of small- and mid-capitalization companies which are companies with capitalizations within the range of the Russell 2500â„¢ Index, as measured at the time of purchase; however, the fund may invest in exchange-traded securities of companies outside the stated range. | |||
Market-Cap Index ETFs
| SCHK | Schwab 1000 Index® ETF Schwab 1000 Index® | Net Asset Value $54.21 | Expense Ratio 0.05% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Schwab 1000 Index®. The Schwab 1000 Index is a float-adjusted market capitalization weighted index that includes the 1,000 largest stocks of publicly traded companies in the United States, with size being determined by market capitalization (total market value of all shares outstanding). It is the fund's policy that under normal circumstances it will invest at least 90% of its net assets (including, for this purpose, any borrowings for investment purposes) in stocks included in the index. | |||
| SCHB | Schwab US Broad Market ETF™ Dow Jones U.S. Broad Stock Market IndexSM | Net Asset Value $65.25 | Expense Ratio 0.03% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Broad Stock Market Index. To pursue its goal, the fund generally invests in stocks that are included in the index. The index includes the largest 2,500 publicly traded U.S. companies for which pricing information is readily available. The fund will invest at least 90% of its net assets in these stocks. It may invest up to 10% of its net assets in securities not included in the index. | |||
| SCHX | Schwab US Large-Cap ETF™ Dow Jones U.S. Large-Cap Total Stock Market IndexSM | Net Asset Value $66.56 | Expense Ratio 0.03% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Large-Cap Total Stock Market Index. To pursue its goal, the fund generally invests in stocks that are included in the Dow Jones U.S. Large-Cap Total Stock Market Index. The index includes the large-cap portion of the Dow Jones U.S. Total Stock Market Index actually available to investors in the marketplace. The Dow Jones U.S. Large-Cap Total Stock Market Index includes the components ranked 1-750 by full market capitalization. The index is a float-adjusted market capitalization weighted index. The fund is non-diversified. | |||
| SCHD | Schwab U.S. Dividend Equity ETF™ Dow Jones US Dividend 100 IndexSM | Net Asset Value $84.07 | Expense Ratio 0.06% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100â„¢ Index. To pursue its goal, the fund generally invests in stocks that are included in the index. The index is designed to measure the performance of high dividend yielding stocks issued by U.S. companies that have a record of consistently paying dividends, selected for fundamental strength relative to their peers, based on financial ratios. The fund will invest at least 90% of its net assets in these stocks. | |||
| SCHM | Schwab U.S. Mid-Cap ETF™ Dow Jones U.S. Mid-Cap Total Stock Market IndexSM | Net Asset Value $81.70 | Expense Ratio 0.04% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Mid-Cap Total Stock Market Index. The index includes the mid-cap portion of the Dow Jones U.S. Total Stock Market Index actually available to investors in the marketplace. The Dow Jones U.S. Mid-Cap Total Stock Market Index includes the components ranked 501-1000 by full market capitalization. The index is a float-adjusted market capitalization weighted index. The fund will invest at least 90% of its net assets in securities that are included in the index. | |||
| SCHA | Schwab US Small-Cap ETF™ Dow Jones U.S. Small-Cap Total Stock Market IndexSM | Net Asset Value $50.92 | Expense Ratio 0.04% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Small-Cap Total Stock Market Index. To pursue its goal, the fund generally invests in stocks that are included in the index. The index includes the small-cap portion of the Dow Jones U.S. Total Stock Market Index actually available to investors in the marketplace. The Dow Jones U.S. Small-Cap Total Stock Market Index includes the components ranked 751-2500 by full market capitalization. The index is a float-adjusted market capitalization weighted index. The fund will invest at least 90% of its net assets in these stocks. | |||
| SCHG | Schwab U.S. Large-Cap Growth ETF™ Dow Jones U.S. Large-Cap Growth Total Stock Market IndexSM | Net Asset Value $101.39 | Expense Ratio 0.04% |
| ETF Strategy: The investment seeks 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. To pursue its goal, the fund generally invests in stocks that are included in the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. The index includes the large-cap growth portion of the Dow Jones U.S. Total Stock Market Index actually available to investors in the marketplace. The Dow Jones U.S. Large-Cap Growth Total Stock Market Index includes the components ranked 1-750 by full market capitalization and that are classified as "growth" based on a number of factors. | |||
| SCHV | Schwab U.S. Large-Cap Value ETF™ Dow Jones U.S. Large-Cap Value Total Stock Market IndexSM | Net Asset Value $79.51 | Expense Ratio 0.04% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Large-Cap Value Total Stock Market Index. To pursue its goal, the fund generally invests in stocks that are included in the Dow Jones U.S. Large-Cap Value Total Stock Market Index. The index includes the large-cap value portion of the Dow Jones U.S. Total Stock Market Index actually available to investors in the marketplace. The Dow Jones U.S. Large-Cap Value Total Stock Market Index includes the components ranked 1-750 by full market capitalization and that are classified as "value" based on a number of factors. | |||
| SCHH | Schwab U.S. REIT ETF™ Dow Jones U.S. Select REIT IndexSM | Net Asset Value $23.35 | Expense Ratio 0.07% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the Dow Jones Equity All REIT Capped Index†composed of U.S. real estate investment trusts classified as equities. The index excludes mortgage REITs, defined as REITs that lend money directly to real estate owners and/or operators or indirectly through the purchase of mortgages or mortgage-backed securities, and hybrid REITs, defined as REITs that participate both in equity and mortgage investing. It is the fund’s policy that under normal circumstances it will invest at least 90% of its net assets in securities included in the index. | |||
Fundamental Index® ETFs
| FNDB | Schwab Fundamental U.S. Broad Market ETF Russell RAFI U.S. Index | Net Asset Value $69.20 | Expense Ratio 0.25% |
| ETF Strategy: The investment seeks is to track as closely as possible, before fees and expenses, the total return of the RAFI Fundamental High Liquidity U.S. All Index that measures the performance of U.S. based companies based on their fundamental size and weight. The fund will invest at least 90% of its net assets in stocks included in the index. The index measures the performance of the constituent companies by fundamental overall company scores (scores), which are created using as the universe the U.S. companies in the RAFI Global Equity Investable Universe. It may invest up to 10% of its net assets in securities not included in the index. | |||
| FNDX | Schwab Fundamental U.S. Large Company ETF Russell RAFI U.S. Large Company Index | Net Asset Value $70.53 | Expense Ratio 0.25% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of an RAFI Fundamental High Liquidity U.S. Large Index that measures the performance of large U.S. companies based on their fundamental size and weight. The fund normally will invest at least 90% of its net assets (including, for this purpose, any borrowings for investment purposes) in stocks included in the index. The index measures the performance of the large company size segment by fundamental overall company scores, which are created using as the universe the U.S. companies in the RAFI Global Equity Investable Universe. | |||
| FNDA | Schwab Fundamental U.S. Small Company ETF Russell RAFI U.S. Small Company Index | Net Asset Value $58.88 | Expense Ratio 0.25% |
| ETF Strategy: The investment seeks to track as closely as possible, before fees and expenses, the total return of the RAFI Fundamental High Liquidity U.S. Small Index. The fund normally will invest at least 90% of its net assets (including, for this purpose, any borrowings for investment purposes) in stocks included in the index. The index measures the performance of the small company size segment by fundamental overall company scores (scores), which are created using as the universe the U.S. companies in the RAFI Global Equity Investable Universe (the parent universe). | |||
For standardized performance data, click on the individual fund link.
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Why are ETFs so popular?
Exchange traded funds have gained the favor of investors because of their low expense ratios, tax efficiency, diversification, trading flexibility and liquidity. They offer a lower relative cost alternative to other vehicles such as stocks and many mutual funds.
Where are ETFs traded?
What are the associated risks?
Do ETFs come with a prospectus?
Quotes are delayed by at least 15 minutes. Before trading, please check a real-time quote for current information.
Investors should consider carefully information contained in the prospectus, including investment objectives, risks, charges and expenses. You can request a prospectus by calling 1-800-435-4000. Please read the prospectus carefully before investing.
Performance data quoted represents past performance and does not indicate future results. Current performance may be lower or higher. See the Performance tab for updated monthly returns. Investment value will fluctuate, and shares when redeemed may be worth more or less than original investment.
Unlike mutual funds, shares of ETFs are not individually redeemable directly with the ETF. Shares of ETFs are bought and sold at market price, which may be higher or lower than the net asset value (NAV).
The Schwab Crypto Thematic ETF will not invest in any cryptocurrency or digital assets directly. It invests in companies listed in the Schwab Crypto Thematic Index and is designed to deliver global exposure to companies that may benefit from the development or utilization of cryptocurrencies (including bitcoin) and other digital assets, and the business activities connected to blockchain and other distributed ledger technology.
The Schwab Crypto Thematic ETF is non-diversified, which means that it may invest in the securities of relatively few issuers. As a result, a single adverse economic or regulatory occurrence may have a more significant effect on the fund's investments, and the fund may experience increased volatility.
The technology relating to digital assets, including blockchain, is new and developing and the risks associated with digital assets may not fully emerge until the technology is widely used. In addition, the values of the companies included in the fund may not be a reflection of their connection to digital assets but may be based on other business operations or lines of business which means that such companies' operating results may not be significantly tied to their respective activities related to digital assets.
The Schwab Crypto Thematic ETF invests in a portfolio of securities that are based on a theme and its performance may suffer if such theme is not correctly identified or if the theme develops in an unexpected manner. Performance may also suffer if the securities included in the index do not benefit from the development of such theme.
International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.
The Schwab Crypto Thematic Index was developed by Charles Schwab Investment Management, Inc. and is designed to deliver global exposure to companies that may benefit from one or more of the following business activities: either directly or facilitating others in validating consensus mechanisms for (such as mining or staking), investing in, or trading cryptocurrency or other digital assets; enabling the use of cryptocurrency or other digital assets to buy or sell goods and services; or developing, distributing or implementing applications of blockchain or other distributed ledger technology including in new cryptocurrencies or digital assets. For the complete and current index methodology please refer to schwabassetmanagement.com/products/stce.
Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications and other factors.
High-yield securities and unrated securities of similar credit quality (junk bonds) are subject to greater levels of credit and liquidity risks and may be more volatile than higher-rated securities. High-yield securities are considered predominately speculative with respect to the issuer’s continuing ability to make principal and interest payments.
The Schwab High Yield Bond ETF may invest in U.S.-registered, dollar-denominated bonds of non-U.S. corporations. The fund’s investments in bonds of non-U.S. issuers may involve certain risks that are greater than those associated with investments in securities of U.S. issuers. These include risks of adverse changes in foreign economic, political, regulatory and other conditions; the imposition of economic sanctions or other government restrictions; differing accounting, auditing, financial reporting and legal standards and practices; differing securities market structures; and higher transaction costs. These risks may be heightened in connection with bonds issued by non-U.S. corporations and entities in emerging markets.
Schwab Asset Management® is the dba name for Charles Schwab Investment Management, Inc., the investment adviser for Schwab ETFs. Schwab ETFs are distributed by SEI Investments Distribution Co. (SIDCO). Schwab Asset Management is a separate but affiliated company and subsidiary of The Charles Schwab Corporation, and is not affiliated with SIDCO.
The fund's yields, including the SEC Yield, are adjusted monthly based on changes in the rate of inflation and these changes can cause the yield to vary substantially from month to month. Exceptionally high yield is attributable to the rise in inflation rate and might not be repeated. Exceptionally low or negative yield is attributable to the fall in inflation rate and might not be repeated.
Market returns are based upon the Official Closing Price of the primary listing exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times.
ETFs at Charles Schwab & Co., Inc. ("Schwab") which are U.S. exchange-listed can be traded without a commission on buy and sell transactions made online in a Schwab account. Unlisted ETFs are subject to a commission. Trade orders placed through a broker will receive the negotiated broker-assisted rate. An exchange process fee applies to sell transactions. All ETFs are subject to management fees and expenses. Please see the Charles Schwab Pricing Guide for additional information. Schwab's affiliate Charles Schwab Investment Management, Inc., dba Schwab Asset Management, serves as the investment adviser to the Schwab ETFs, which compensates Schwab Asset Management out of the applicable operating expense ratios. The amount of the fees is disclosed in the prospectus of each ETF.
Schwab receives remuneration from third-party active semi-transparent (also known as non-transparent) ETFs or their sponsors for platform support and technology, shareholder communications, reporting, and similar administrative services for third-party active semi-transparent ETFs available at Schwab. This fee will vary, but typically is an asset-based fee of 0.10% per annum of the assets held at Schwab. Neither Schwab's affiliate Charles Schwab Investment Management, Inc., dba Schwab Asset Management nor Schwab active semi-transparent ETFs pay a separate fee to Schwab for these services described, although Schwab Asset Management reimburses Schwab, in its capacity as an affiliated financial intermediary of CSIM's, for Schwab's costs in providing certain professional, administrative, and support services for the Schwab ETFs.
Active semi-transparent (also known as non-transparent) ETFs operate differently from other exchange-traded funds (ETFs). Unlike other ETFs, an active semi-transparent ETF does not publicly disclose its entire portfolio composition each business day, which may affect the price at which shares of the ETF trade in the secondary market. To find out more about active semi-transparent ETFs, please read Active Semi-transparent ETFs: What you need to know.
Because environmental, social and governance (ESG) strategies exclude some securities, ESG-focused products may not be able to take advantage of the same opportunities or market trends as products that do not use such strategies. Additionally, the criteria used to select companies for investment may result in investing in securities, industries or sectors that underperform the market as a whole.
Dividend focused funds may underperform funds that do not limit their investment to dividend paying stocks. Stocks held by the fund may reduce or stop paying dividends, affecting the fund’s ability to generate income.
Diversification strategies do not ensure a profit and do not protect against losses in declining markets.
"Standard & Poor's®" and "S&P®" are registered trademarks of Standard & Poor's Financial Services LLC ("S&P") and "Dow Jones®" is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones") and have been licensed for use by S&P Dow Jones Indices LLC and its affiliates and sublicensed for certain purposes by Schwab Asset Management. The "Dow Jones U.S. Total Stock Market IndexSM" is a product of S&P Dow Jones Indices LLC or its affiliates and has been licensed for use by Schwab Asset Management. The Schwab Total Stock Market Index Fund® is not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, Dow Jones, S&P, nor their respective affiliates and neither S&P Dow Jones Indices LLC, Dow Jones, S&P, nor their respective affiliates make any representation regarding the advisability of investing in such product.
"FTSE®" is a trade mark owned by the London Stock Exchange plc and is used by FTSE International Limited (FTSE) under license. The FTSE Global Equity Index Series is calculated by FTSE. The Schwab ETFs are not sponsored, endorsed, sold or promoted by FTSE or their respective affiliates (together, the Index Sponsors) and the Index Sponsors do not make any representation regarding the advisability of trading in the Schwab ETFs. The Index Sponsors do not accept any obligations or liability in relation to the issuance, marketing, operation or trading of the Schwab ETFs. Schwab Asset Management is not affiliated with any Index Sponsor.
The Schwab Fundamental Index Funds are not in any way sponsored, endorsed, sold or promoted by Frank Russell Company (Russell), by the London Stock Exchange Group companies (LSEG), or by Research Affiliates LLC (RA) (collectively the Licensor Parties), and none of the Licensor Parties make any warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the Russell RAFI Index Series (the Indexes) or otherwise. The Indexes are compiled and calculated by Russell in conjunction with RA. None of the Licensor Parties shall be liable (whether in negligence or otherwise) to any person for any error in the Indexes and none of the Licensor Parties shall be under any obligation to advise any person of any error therein. "Russell®" is a trademark of Russell. The trade names "Research Affiliates®", "Fundamental Index®" and "RAFI®" are registered trademarks of RA. Charles Schwab Investment Management, Inc. has obtained full license from Russell to use the Indexes. For full disclaimer please see the funds' statements of additional information.
BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively "Bloomberg"). Bloomberg or Bloomberg's licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg's licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
"ICE®" is a registered trademark of ICE Data Indices, LLC or its affiliates and "BofA®" is a registered trademark of Bank of America Corporation licensed by Bank of America Corporation and its affiliates ("BofA") and may not be used without BofA's prior written approval. These trademarks have been licensed, along with the ICE BofA US Cash Pay High Yield Constrained Index, ICE AMT-Free Core U.S. National Municipal Index, and the ICE BofA US 3-Month Treasury Bill Index for use by Charles Schwab Investment Management, Inc., dba Schwab Asset Management®, in connection with the Schwab High Yield Bond ETF, the Schwab Municipal Bond ETF, and the Schwab Ultra-Short Income ETF, respectively. The Schwab High Yield Bond ETF, the Schwab Municipal Bond ETF, and the Schwab Ultra-Short Income ETF are not sponsored, endorsed, sold or promoted by ICE Data Indices, LLC, its affiliates or its Third Party Suppliers ("ICE Data and its Suppliers"). ICE Data and its Suppliers make no representations or warranties regarding the advisability of investing in the Schwab High Yield Bond ETF, or the Schwab Municipal Bond ETF, or the Schwab Ultra-Short Income ETF. Past performance of an index is not an indicator of or a guarantee of future results. The full ICE Data Indices disclaimer is located in the Schwab High Yield Bond ETF, the Schwab Municipal Bond ETF and the Schwab Ultra-Short Income ETF statutory prospectuses and/or statements of additional information located here: Our investment products and such ICE Data disclaimer is expressly incorporated here by reference.
Schwab ETFs are not sponsored, endorsed, sold or promoted by S&P Dow Jones Indices LLC, FTSE, Frank Russell Company, London Stock Exchange Group companies, Research Affiliates LLC, Bloomberg, ICE or their respective affiliates (together, the "Index Sponsors") and the Index Sponsors do not make any representation regarding the advisability of purchasing Schwab ETFs. The Index Sponsors do not accept any obligations or liability in relation to the issuance, marketing, operation or trading of the Schwab ETFs. Schwab Asset Management is not affiliated with any Index Sponsors.
The Schwab 1000 Index® is the property of Charles Schwab & Co., Inc. which has contracted with S&P Opco, LLC (a subsidiary of S&P Dow Jones Indices LLC) to calculate and maintain the Index. The Index is not sponsored by S&P Dow Jones Indices or its affiliates or its third party licensors (collectively, "S&P Dow Jones Indices"). S&P Dow Jones Indices will not be liable for any errors or omissions in calculating the Index. "Calculated by S&P Dow Jones Indices" and the related stylized mark(s) are service marks of S&P Dow Jones Indices and have been licensed for use by Schwab. S&P® is a registered trademark of Standard & Poor's Financial Services LLC ("SPFS"), and Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones").
The Global Industry Classification Standard (GICS) was developed by and is the exclusive property of Morgan Stanley Capital International Inc. and S&P Capital IQ. GICS is a service mark of MSCI and S&P Capital IQ and has been licensed for use by Schwab.
This material contains links to content that is available on third-party websites. Please note that Schwab does not endorse these sites or the products and services you might find there.
NAV (Net Asset Value) is a per share valuation of the securities in an ETF officially calculated once per day. NAV price performance is primarily used to evaluate the fund and its managers and may not reflect the actual return for the investor.
Market Price is the price at which investors buy and sell ETF shares in the stock market. ETF Market Price determines investor returns. An ETF's Market Price may be higher or lower than the NAV at any given point in time. Market returns are based upon the Official Closing Price of the primary listing exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. Ratings do not take into account the effects of sales charges and loads.
©2024 Morningstar, Inc. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
The fund may invest in U.S.-registered, dollar-denominated bonds of non-U.S. corporations. The fund's investments in bonds of non-U.S. issuers may involve certain risks that are greater than those associated with investments in securities of U.S. issuers. These include risks of adverse changes in foreign economic, political, regulatory and other conditions; the imposition of economic sanctions or other government restrictions; differing accounting, auditing, financial reporting and legal standards and practices; differing securities market structures; and higher transaction costs. These risks may be heightened in connection with bonds issued by non-U.S. corporations and entities in emerging markets.
An actively-managed fund is subject to the risk that its investment adviser and/or subadviser will select investments or allocate assets in a manner that could cause the fund to underperform or otherwise not meet its investment objective.
Schwab Ultra-Short Income ETF is an actively managed exchange-traded fund and therefore does not seek to replicate the performance of any specific index. The fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index.
Schwab Ultra-Short Income ETF is not a money market fund and does not seek to maintain a stable net asset value of $1.00 per share. The fund is not subject to the strict rules that govern the diversity, quality, maturity, liquidity and other features of securities that money market funds may purchase designed to enable money market funds to maintain a stable share price and to limit investment risk. Under normal circumstances, the fund's investments may be more susceptible than a money market fund is to credit risk, interest rate risk, valuation risk and other risks relevant to the fund's investments. The fund does not seek to maintain a stable net asset value of $1.00 per share. Therefore, the fund's net asset value per share and market value will fluctuate, and these fluctuations may be significant on certain days. There can be no guarantee that the fund will generate higher returns than money market funds. In addition, the fund does not qualify for certain tax relief afforded to money market funds by the U.S. Treasury.
(0811-4794, 0813-5488, 1016-N2DC, 1017-7KFC, 1019-95HX, 0620-0EYJ, 0421-1ECR, 0721-166U, 0921-12TC, 1221-1CZU, 1121-1GHP, 0422-25ZP, 0822-24VR, 1022-2XSL, 1222-26L0, 0423-3CPF, 0824-8GN0)