N-Q 1 f30048nvq.htm FORM N-Q nvq
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-22311
Schwab Strategic Trust
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
(Address of principal executive offices) (Zip code)
Marie Chandoha
Schwab Strategic Trust
211 Main Street, San Francisco, California 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: August 31
Date of reporting period: September 1, 2012 — November 30, 2012
 
 
Item 1. Schedule of Investments.

 

 

Schwab Strategic Trust
Schwab U.S. Broad Market ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  99 .7%   Common Stock     1,123,578,511       1,233,727,181  
  0 .0%   Rights     —       2,817  
  0 .1%   Other Investment Company     826,003       826,003  
 
 
  99 .8%   Total Investments     1,124,404,514       1,234,556,001  
  0 .4%   Collateral Invested for Securities on Loan     4,811,679       4,811,679  
  (0 .2)%   Other Assets and
Liabilities, Net 		            (1,457,817 )
 
 
  100 .0%   Net Assets             1,237,909,863  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 99.7% of net assets
 
Automobiles & Components 0.9%
Allison Transmission Holdings, Inc. (a)
    2,425       50,416  
American Axle & Manufacturing Holdings, Inc. *
    5,374       56,212  
BorgWarner, Inc. *
    9,412       624,016  
Cooper Tire & Rubber Co.
    4,932       123,201  
Dana Holding Corp.
    12,308       174,528  
Dorman Products, Inc. *
    2,896       99,043  
Drew Industries, Inc. *
    1,620       52,585  
Ford Motor Co.
    303,963       3,480,376  
General Motors Co. *
    60,876       1,575,471  
Gentex Corp.
    11,460       203,415  
Harley-Davidson, Inc.
    18,824       883,975  
Johnson Controls, Inc.
    54,453       1,499,636  
Lear Corp.
    8,688       379,405  
Tenneco, Inc. *
    4,844       155,347  
Tesla Motors, Inc. *(a)
    5,621       190,102  
The Goodyear Tire & Rubber Co. *
    19,406       244,516  
Thor Industries, Inc.
    3,620       136,619  
TRW Automotive Holdings Corp. *
    8,688       439,960  
Visteon Corp. *
    4,114       206,111  
                 
              10,574,934  
 
Banks 3.2%
Associated Banc-Corp.
    15,524       199,483  
Astoria Financial Corp.
    6,545       61,065  
BancFirst Corp.
    1,463       61,958  
BancorpSouth, Inc.
    5,792       76,628  
Bank of Hawaii Corp.
    3,620       157,361  
Bank of the Ozarks, Inc.
    2,896       92,035  
BankUnited, Inc.
    3,111       73,109  
BB&T Corp.
    55,524       1,564,111  
BBCN Bancorp, Inc.
    5,380       61,224  
Beneficial Mutual Bancorp, Inc. *
    6,687       62,657  
Berkshire Hills Bancorp, Inc.
    1,754       40,447  
BOK Financial Corp.
    2,042       112,392  
Boston Private Financial Holdings, Inc.
    6,321       58,343  
Brookline Bancorp, Inc.
    6,546       55,379  
CapitalSource, Inc.
    21,794       175,442  
Capitol Federal Financial, Inc.
    12,920       153,619  
Cathay General Bancorp
    5,880       105,252  
Central Pacific Financial Corp. *
    3,440       50,809  
Chemical Financial Corp.
    2,330       50,724  
CIT Group, Inc. *
    16,652       616,957  
Citizens Republic Bancorp, Inc. *
    3,140       58,938  
City Holding Co.
    1,448       48,653  
City National Corp.
    3,620       176,258  
Columbia Banking System, Inc.
    5,068       87,474  
Comerica, Inc.
    15,398       455,627  
Commerce Bancshares, Inc.
    7,078       253,258  
Community Bank System, Inc.
    2,896       77,844  
Community Trust Bancorp, Inc.
    1,077       35,261  
Cullen/Frost Bankers, Inc.
    4,844       264,531  
CVB Financial Corp.
    7,454       75,733  
East West Bancorp, Inc.
    12,308       260,314  
EverBank Financial Corp.
    4,150       61,337  
F.N.B. Corp.
    11,058       119,426  
Fifth Third Bancorp
    73,212       1,071,824  
First Citizens BancShares, Inc., Class A
    447       73,755  
First Commonwealth Financial Corp.
    9,587       61,453  
First Financial Bancorp
    4,400       63,932  
First Financial Bankshares, Inc. (a)
    2,366       92,061  
First Horizon National Corp.
    19,824       187,535  
First Interstate BancSystem, Inc.
    3,240       49,507  
First Midwest Bancorp, Inc.
    7,240       90,500  
First Niagara Financial Group, Inc.
    27,956       210,788  
First Republic Bank
    5,792       195,885  
FirstMerit Corp.
    8,688       122,327  
Flagstar Bancorp, Inc. *
    5,242       95,719  
Fulton Financial Corp.
    17,696       172,182  
Glacier Bancorp, Inc.
    5,703       82,865  
Hancock Holding Co.
    6,516       204,733  
Home BancShares, Inc.
    2,896       96,031  
Hudson City Bancorp, Inc.
    38,372       309,278  
Huntington Bancshares, Inc.
    68,056       418,544  
IBERIABANK Corp.
    2,172       105,885  
Independent Bank Corp.
    1,720       49,364  
International Bancshares Corp.
    4,500       81,450  
Investors Bancorp, Inc.
    4,344       74,369  
Kearny Financial Corp.
    6,167       56,613  
KeyCorp
    77,916       629,561  
M&T Bank Corp.
    9,559       934,201  
MB Financial, Inc.
    4,385       85,244  
National Penn Bancshares, Inc.
    9,990       94,605  
 
 
 
 1

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Nationstar Mortgage Holdings, Inc. *(a)
    2,330       71,345  
NBT Bancorp, Inc.
    2,628       51,956  
New York Community Bancorp, Inc.
    35,058       456,105  
Northfield Bancorp, Inc.
    3,340       51,002  
Northwest Bancshares, Inc.
    10,860       129,560  
Ocwen Financial Corp. *
    10,136       363,477  
Old National Bancorp
    8,052       94,530  
Oritani Financial Corp.
    5,068       73,993  
PacWest Bancorp
    3,620       90,174  
Park National Corp. (a)
    998       62,964  
People’s United Financial, Inc.
    27,512       335,371  
Pinnacle Financial Partners, Inc. *
    2,630       50,049  
PNC Financial Services Group, Inc.
    42,192       2,368,659  
Popular, Inc. *
    7,974       157,646  
PrivateBancorp, Inc.
    6,516       106,797  
Prosperity Bancshares, Inc.
    3,620       148,891  
Provident Financial Services, Inc.
    5,792       83,926  
Radian Group, Inc.
    10,478       45,894  
Regions Financial Corp.
    112,220       748,507  
Renasant Corp.
    1,954       35,993  
S&T Bancorp, Inc.
    2,231       37,860  
Sandy Spring Bancorp, Inc.
    1,854       34,929  
SCBT Financial Corp.
    1,177       45,609  
Signature Bank *
    3,620       253,979  
State Bank Financial Corp.
    2,431       38,264  
Sterling Financial Corp.
    2,951       60,702  
SunTrust Banks, Inc.
    43,440       1,179,396  
Susquehanna Bancshares, Inc.
    14,630       150,396  
SVB Financial Group *
    3,620       199,896  
Synovus Financial Corp.
    62,694       148,585  
TCF Financial Corp.
    14,728       174,969  
Texas Capital Bancshares, Inc. *
    3,144       141,606  
TFS Financial Corp. *
    10,136       83,318  
TrustCo Bank Corp.
    7,370       38,840  
Trustmark Corp.
    5,792       128,698  
U.S. Bancorp
    151,316       4,881,454  
UMB Financial Corp.
    2,896       122,733  
Umpqua Holdings Corp.
    11,584       135,069  
United Bankshares, Inc. (a)
    3,661       90,427  
Valley National Bancorp
    18,981       181,079  
ViewPoint Financial Group, Inc.
    3,040       62,168  
Washington Federal, Inc.
    8,688       139,616  
Webster Financial Corp.
    5,861       122,026  
Wells Fargo & Co.
    391,684       12,929,489  
WesBanco, Inc.
    2,054       43,360  
Westamerica Bancorp
    2,172       92,440  
Western Alliance Bancorp *
    7,354       74,717  
Wintrust Financial Corp.
    3,620       133,180  
Zions Bancorp
    14,633       293,684  
                 
              39,059,188  
 
Capital Goods 8.1%
3M Co.
    50,550       4,597,523  
A.O. Smith Corp.
    2,896       182,303  
AAON, Inc.
    1,754       36,922  
AAR Corp.
    2,896       44,483  
Actuant Corp., Class A
    6,516       187,465  
Acuity Brands, Inc.
    3,620       239,463  
Aecom Technology Corp. *
    8,941       201,977  
Aegion Corp. *
    3,116       64,252  
AGCO Corp. *
    7,640       352,586  
Air Lease Corp. *
    5,309       118,125  
Aircastle Ltd.
    6,516       74,087  
Albany International Corp., Class A
    2,470       53,130  
Alliant Techsystems, Inc.
    2,572       154,320  
Altra Holdings, Inc.
    2,054       38,636  
American Railcar Industries, Inc. *
    1,077       33,096  
AMETEK, Inc.
    19,548       729,727  
Apogee Enterprises, Inc.
    2,231       51,135  
Applied Industrial Technologies, Inc.
    3,620       144,909  
Armstrong World Industries, Inc.
    1,667       84,200  
Astec Industries, Inc.
    1,584       45,857  
AZZ, Inc.
    1,820       69,378  
B/E Aerospace, Inc. *
    8,688       411,464  
Barnes Group, Inc.
    3,804       80,226  
Beacon Roofing Supply, Inc. *
    3,620       111,641  
Belden, Inc.
    4,344       163,682  
Blount International, Inc. *
    3,620       51,657  
Brady Corp., Class A
    3,620       115,623  
Briggs & Stratton Corp.
    3,861       78,340  
Builders FirstSource, Inc. *
    7,470       38,844  
Carlisle Cos., Inc.
    5,068       287,204  
Cascade Corp.
    1,912       124,223  
Caterpillar, Inc.
    52,128       4,443,391  
Chart Industries, Inc. *
    2,193       132,633  
CIRCOR International, Inc.
    1,448       52,331  
CLARCOR, Inc.
    4,344       201,475  
Colfax Corp. *
    5,274       205,633  
Comfort Systems USA, Inc.
    3,208       34,679  
Cooper Industries plc
    13,032       970,884  
Crane Co.
    4,344       184,359  
Cubic Corp.
    1,174       57,467  
Cummins, Inc.
    14,115       1,385,528  
Curtiss-Wright Corp.
    3,620       114,863  
Danaher Corp.
    46,489       2,509,011  
Deere & Co.
    31,211       2,623,285  
DigitalGlobe, Inc. *
    3,685       91,904  
Donaldson Co., Inc.
    11,584       388,991  
Dover Corp.
    14,480       920,783  
DXP Enterprises, Inc. *
    777       37,521  
Eaton Corp. plc *
    26,788       1,397,262  
EMCOR Group, Inc.
    5,068       166,484  
Emerson Electric Co.
    57,837       2,905,153  
Encore Wire Corp.
    1,919       60,142  
EnerSys, Inc. *
    3,814       132,880  
EnPro Industries, Inc. *
    1,600       62,848  
ESCO Technologies, Inc.
    2,896       106,283  
Esterline Technologies Corp. *
    2,896       177,061  
Exelis, Inc.
    14,480       163,624  
Fastenal Co.
    21,437       896,281  
Flowserve Corp.
    4,344       601,861  
Fluor Corp.
    13,393       710,900  
Fortune Brands Home & Security, Inc. *
    12,808       384,112  
Foster Wheeler AG *
    8,888       199,625  
Franklin Electric Co., Inc.
    1,495       89,042  
Gardner Denver, Inc.
    4,344       303,428  
GATX Corp.
    4,344       183,013  
GenCorp, Inc. *
    4,662       42,890  
Generac Holdings, Inc.
    2,172       70,872  
General Cable Corp. *
    3,745       107,519  
General Dynamics Corp.
    26,323       1,750,480  
 
 
 
2 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
General Electric Co.
    842,218       17,796,066  
GeoEye, Inc. *
    1,754       53,602  
Graco, Inc.
    5,068       250,410  
GrafTech International Ltd. *
    10,136       98,319  
Granite Construction, Inc.
    2,813       86,078  
Great Lakes Dredge & Dock Corp.
    4,762       42,048  
Greenbrier Cos., Inc. *
    1,954       37,341  
Griffon Corp.
    3,685       38,250  
H&E Equipment Services, Inc.
    2,994       46,557  
Harsco Corp.
    6,516       131,297  
HEICO Corp., Class A
    4,501       151,234  
Hexcel Corp. *
    7,696       198,942  
Honeywell International, Inc.
    62,288       3,820,123  
Hubbell, Inc., Class B
    4,344       365,982  
Huntington Ingalls Industries, Inc.
    4,344       177,452  
Hyster-Yale Materials Handling, Inc.
    1,382       57,325  
IDEX Corp.
    6,516       292,894  
II-VI, Inc. *
    5,812       99,443  
Illinois Tool Works, Inc.
    34,437       2,120,286  
Ingersoll-Rand plc
    22,820       1,113,160  
ITT Corp.
    7,240       161,959  
Jacobs Engineering Group, Inc. *
    10,136       414,968  
John Bean Technologies Corp.
    2,231       36,343  
Joy Global, Inc.
    8,688       495,129  
Kaman Corp.
    2,172       78,713  
Kaydon Corp.
    3,620       83,369  
KBR, Inc.
    11,678       324,648  
Kennametal, Inc.
    6,516       248,390  
L-3 Communications Holdings, Inc.
    7,964       612,033  
Lennox International, Inc.
    4,344       228,451  
Lincoln Electric Holdings, Inc.
    7,240       343,972  
Lindsay Corp.
    945       74,740  
Lockheed Martin Corp.
    21,421       1,998,579  
Masco Corp.
    30,408       515,720  
MasTec, Inc. *
    4,923       112,441  
Moog, Inc., Class A *
    4,344       159,685  
MRC Global, Inc. *
    2,172       60,881  
MSC Industrial Direct Co., Inc., Class A
    3,620       263,029  
Mueller Industries, Inc.
    2,981       142,373  
Mueller Water Products, Inc., Class A
    12,309       68,684  
National Presto Industries, Inc. (a)
    500       38,380  
Navistar International Corp. *
    5,068       103,438  
Nordson Corp.
    4,344       265,809  
Nortek, Inc. *
    1,177       76,846  
Northrop Grumman Corp.
    19,601       1,307,387  
Orbital Sciences Corp. *
    4,344       56,863  
Oshkosh Corp. *
    7,240       212,494  
Owens Corning *
    8,963       309,941  
PACCAR, Inc.
    28,960       1,272,502  
Pall Corp.
    9,412       559,826  
Parker Hannifin Corp.
    12,308       1,011,102  
Pentair Ltd. - Reg’d
    16,808       815,020  
Polypore International, Inc. *(a)
    3,673       150,777  
Powell Industries, Inc. *
    877       35,115  
Precision Castparts Corp.
    11,584       2,124,390  
Primoris Services Corp.
    5,848       84,679  
Proto Labs, Inc. *
    1,825       66,576  
Quanex Building Products Corp.
    2,940       61,505  
Quanta Services, Inc. *
    16,905       437,163  
Raven Industries, Inc.
    2,896       75,267  
Raytheon Co.
    26,392       1,507,775  
RBC Bearings, Inc. *
    2,172       101,194  
Regal-Beloit Corp.
    3,620       252,495  
Rexnord Corp. *
    5,778       123,534  
Robbins & Myers, Inc.
    3,620       215,028  
Rockwell Automation, Inc.
    11,584       917,916  
Rockwell Collins, Inc.
    11,254       643,504  
Roper Industries, Inc.
    7,964       888,225  
Rush Enterprises, Inc., Class A *
    2,561       49,043  
Sauer-Danfoss, Inc.
    1,155       60,672  
Seaboard Corp. *
    26       61,369  
Simpson Manufacturing Co., Inc.
    4,344       142,092  
Snap-On, Inc.
    4,644       368,919  
Spirit AeroSystems Holdings, Inc., Class A *
    9,175       144,506  
SPX Corp.
    4,344       295,913  
Standex International Corp.
    724       35,664  
Stanley Black & Decker, Inc.
    13,756       989,194  
Sun Hydraulics Corp.
    1,919       50,163  
TAL International Group, Inc.
    2,184       74,365  
Teledyne Technologies, Inc. *
    2,943       185,409  
Tennant Co.
    2,172       82,840  
Terex Corp. *
    9,412       227,676  
Textainer Group Holdings Ltd.
    1,713       51,698  
Textron, Inc.
    22,444       527,210  
The Babcock & Wilcox Co.
    9,412       237,088  
The Boeing Co.
    53,829       3,998,418  
The Gorman-Rupp Co.
    1,277       35,539  
The Manitowoc Co., Inc.
    12,308       184,620  
The Middleby Corp. *
    1,481       188,665  
The Shaw Group, Inc. *
    5,262       236,422  
The Timken Co.
    6,516       293,546  
The Toro Co.
    4,638       208,061  
Thermon Group Holdings, Inc. *
    1,454       35,957  
Titan International, Inc.
    2,896       58,876  
TransDigm Group, Inc.
    3,649       496,337  
Trex Co., Inc. *
    1,077       43,737  
TriMas Corp. *
    2,470       63,973  
Trinity Industries, Inc.
    6,516       207,013  
Triumph Group, Inc.
    3,922       257,322  
United Rentals, Inc. *
    7,373       306,201  
United Technologies Corp.
    66,920       5,360,961  
Universal Forest Products, Inc.
    1,520       57,243  
URS Corp.
    6,516       245,523  
USG Corp. *(a)
    6,992       187,595  
Valmont Industries, Inc.
    1,795       250,690  
W.W. Grainger, Inc.
    5,068       983,293  
Wabash National Corp. *
    5,339       43,193  
WABCO Holdings, Inc. *
    5,068       314,469  
Wabtec Corp.
    3,720       314,786  
Watsco, Inc.
    2,172       155,711  
Watts Water Technologies, Inc., Class A
    2,266       92,657  
WESCO International, Inc. *
    3,620       234,033  
Woodward, Inc.
    4,344       158,860  
Xylem, Inc.
    14,480       377,783  
                 
              99,923,948  
 
Commercial & Professional Services 1.1%
ABM Industries, Inc.
    3,452       65,864  
Acacia Research Corp. *
    3,873       86,097  
 
 
 
 3

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Acco Brands Corp. *
    8,688       58,557  
Avery Dennison Corp.
    8,688       290,614  
Cintas Corp.
    9,412       390,033  
Clean Harbors, Inc. *
    4,344       248,824  
Copart, Inc. *
    9,128       275,757  
Corrections Corp. of America
    8,688       294,523  
Covanta Holding Corp.
    10,860       205,037  
Deluxe Corp.
    4,344       125,107  
Encore Capital Group, Inc. *
    1,720       45,718  
Equifax, Inc.
    10,136       519,369  
Exponent, Inc. *
    1,010       53,974  
FTI Consulting, Inc. *
    4,344       134,273  
G&K Services, Inc., Class A
    2,172       73,631  
Healthcare Services Group, Inc.
    5,792       136,228  
Herman Miller, Inc.
    4,600       97,152  
HNI Corp.
    4,344       129,364  
Huron Consulting Group, Inc. *
    1,448       47,697  
ICF International, Inc. *
    1,654       35,760  
IHS, Inc., Class A *
    3,953       364,229  
Innerworkings, Inc. *
    3,008       39,134  
Insperity, Inc.
    2,181       65,866  
Interface, Inc.
    4,579       67,266  
Iron Mountain, Inc.
    13,501       426,632  
KAR Auction Services, Inc. *
    6,289       111,756  
Kelly Services, Inc., Class A
    2,631       35,940  
Kforce, Inc. *
    3,008       38,683  
Kimball International, Inc., Class B
    2,908       36,292  
Knoll, Inc.
    3,797       54,525  
Korn/Ferry International *
    3,690       53,210  
Manpower, Inc.
    6,516       250,475  
McGrath Rentcorp
    1,850       51,837  
Mine Safety Appliances Co.
    2,487       96,197  
Mistras Group, Inc. *
    1,654       35,875  
Mobile Mini, Inc. *
    2,896       57,804  
Navigant Consulting, Inc. *
    4,396       45,762  
Nielsen Holdings N.V. *
    9,642       273,061  
On Assignment, Inc. *
    2,940       58,594  
Performant Financial Corp. *
    3,208       30,989  
Pitney Bowes, Inc. (a)
    16,652       186,336  
Portfolio Recovery Associates, Inc. *
    1,448       143,091  
Quad/Graphics, Inc. (a)
    1,954       31,655  
R.R. Donnelley & Sons Co. (a)
    16,652       156,529  
Republic Services, Inc.
    24,616       700,818  
Robert Half International, Inc.
    12,308       347,824  
Rollins, Inc.
    5,948       135,436  
Steelcase, Inc., Class A
    6,238       72,610  
Stericycle, Inc. *
    7,240       676,723  
Team, Inc. *
    2,172       78,018  
Tetra Tech, Inc. *
    4,944       127,357  
The ADT Corp. *
    18,429       845,891  
The Advisory Board Co. *
    2,896       131,044  
The Brink’s Co.
    4,344       119,286  
The Corporate Executive Board Co.
    2,562       109,654  
The Dun & Bradstreet Corp.
    3,490       276,338  
The Geo Group, Inc.
    5,792       163,334  
Towers Watson & Co., Class A
    4,520       239,018  
TrueBlue, Inc. *
    4,344       61,902  
Tyco International Ltd.
    36,924       1,047,534  
UniFirst Corp.
    1,448       102,185  
United Stationers, Inc.
    4,344       133,317  
Verisk Analytics, Inc., Class A *
    11,584       577,347  
Viad Corp.
    1,654       37,182  
WageWorks, Inc. *
    2,054       37,937  
Waste Connections, Inc.
    9,842       323,999  
Waste Management, Inc.
    34,752       1,131,873  
                 
              13,501,944  
 
Consumer Durables & Apparel 1.5%
American Greetings Corp., Class A (a)
    3,140       54,134  
Arctic Cat, Inc. *
    1,448       54,488  
Blyth, Inc. (a)
    1,110       17,893  
Brunswick Corp.
    7,240       186,575  
Carter’s, Inc. *
    3,948       209,402  
Coach, Inc.
    23,168       1,340,037  
Columbia Sportswear Co. (a)
    1,448       83,839  
Crocs, Inc. *
    8,015       107,000  
D.R. Horton, Inc.
    23,168       450,849  
Deckers Outdoor Corp. *(a)
    3,620       138,610  
Ethan Allen Interiors, Inc.
    2,020       58,600  
Fifth & Pacific Cos., Inc. *
    8,929       107,594  
Fossil, Inc. *
    4,344       375,495  
G-III Apparel Group Ltd. *
    1,177       44,785  
Garmin Ltd. (a)
    9,412       366,033  
Hanesbrands, Inc. *
    7,964       287,500  
Harman International Industries, Inc.
    5,792       229,132  
Hasbro, Inc.
    9,412       361,985  
Helen of Troy Ltd. *
    3,620       111,713  
Iconix Brand Group, Inc. *
    5,806       117,049  
iRobot Corp. *
    2,059       38,792  
Jarden Corp.
    6,248       330,582  
KB Home (a)
    6,086       87,395  
La-Z-Boy, Inc. *
    5,792       86,417  
Leapfrog Enterprises, Inc. *
    4,204       38,298  
Leggett & Platt, Inc.
    11,201       311,948  
Lennar Corp., Class A
    12,908       491,020  
M.D.C Holdings, Inc.
    3,620       127,569  
Maidenform Brands, Inc. *
    1,854       34,058  
Mattel, Inc.
    27,164       1,018,922  
Meritage Homes Corp. *
    2,481       86,885  
Michael Kors Holdings Ltd. *
    8,973       476,915  
Mohawk Industries, Inc. *
    4,544       390,739  
Movado Group, Inc.
    1,720       59,667  
NACCO Industries, Inc., Class A
    724       38,604  
Newell Rubbermaid, Inc.
    23,168       505,294  
NIKE, Inc., Class B
    29,684       2,893,596  
NVR, Inc. *
    348       313,144  
Oxford Industries, Inc.
    1,450       79,228  
Polaris Industries, Inc.
    5,182       439,485  
PulteGroup, Inc. *
    27,512       462,477  
PVH Corp.
    5,568       638,037  
Ralph Lauren Corp.
    5,068       796,132  
Skechers U.S.A., Inc., Class A *
    3,140       61,104  
Smith & Wesson Holding Corp. *
    3,620       38,372  
Standard Pacific Corp. *
    13,069       87,562  
Steven Madden Ltd. *
    3,620       161,126  
Sturm Ruger & Co., Inc. (a)
    1,501       87,944  
Tempur-Pedic International, Inc. *
    5,068       135,062  
The Jones Group, Inc.
    5,792       68,114  
The Ryland Group, Inc.
    3,366       112,593  
The Warnaco Group, Inc. *
    3,620       260,242  
Toll Brothers, Inc. *
    12,308       391,887  
Tumi Holdings, Inc. *
    2,530       56,849  
 
 
 
4 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Tupperware Brands Corp.
    5,068       328,660  
Under Armour, Inc., Class A *
    6,020       312,017  
VF Corp.
    6,963       1,117,631  
Whirlpool Corp.
    6,192       630,593  
Wolverine World Wide, Inc.
    4,344       188,008  
                 
              18,485,681  
 
Consumer Services 2.1%
AFC Enterprises, Inc. *
    2,172       57,428  
American Public Education, Inc. *
    1,450       49,851  
Ameristar Casinos, Inc.
    2,530       50,347  
Apollo Group, Inc., Class A *
    8,005       153,616  
Ascent Capital Group, Inc., Class A *
    1,110       67,943  
Bally Technologies, Inc. *
    3,290       148,511  
BJ’s Restaurants, Inc. *
    2,172       74,478  
Bob Evans Farms, Inc.
    2,307       86,951  
Boyd Gaming Corp. *
    72       396  
Brinker International, Inc.
    6,287       188,296  
Buffalo Wild Wings, Inc. *
    1,462       105,907  
Burger King Worldwide, Inc.
    7,240       124,094  
Carnival Corp.
    35,565       1,374,943  
Chipotle Mexican Grill, Inc. *
    2,508       661,560  
Choice Hotels International, Inc.
    2,200       71,500  
Churchill Downs, Inc.
    1,061       67,066  
Coinstar, Inc. *(a)
    2,245       105,605  
Cracker Barrel Old Country Store, Inc.
    2,172       133,469  
Darden Restaurants, Inc.
    10,860       574,277  
Denny’s Corp. *
    7,470       35,482  
DeVry, Inc.
    5,068       132,123  
DineEquity, Inc. *
    1,168       73,642  
Domino’s Pizza, Inc.
    4,494       186,950  
Dunkin’ Brands Group, Inc.
    5,835       185,670  
Grand Canyon Education, Inc. *
    2,630       62,278  
H&R Block, Inc.
    23,338       420,784  
Hillenbrand, Inc.
    5,792       122,559  
Hyatt Hotels Corp., Class A *
    4,450       162,425  
International Game Technology
    21,231       294,474  
International Speedway Corp., Class A
    2,314       62,085  
Interval Leisure Group, Inc.
    3,813       71,799  
ITT Educational Services, Inc. *(a)
    1,165       21,121  
Jack in the Box, Inc. *
    3,452       95,103  
K12, Inc. *(a)
    2,896       50,188  
Krispy Kreme Doughnuts, Inc. *
    5,239       47,675  
Las Vegas Sands Corp.
    28,141       1,312,778  
Life Time Fitness, Inc. *
    3,141       147,815  
Marriott International, Inc., Class A
    19,978       725,002  
Marriott Vacations Worldwide Corp. *
    2,374       94,509  
Matthews International Corp., Class A
    2,896       87,604  
McDonald’s Corp.
    80,411       6,998,973  
MGM Resorts International *
    29,418       298,593  
Orient-Express Hotels Ltd., Class A *
    7,240       89,269  
Panera Bread Co., Class A *
    2,286       366,903  
Papa John’s International, Inc. *
    1,576       83,418  
Penn National Gaming, Inc. *
    5,268       267,720  
Pinnacle Entertainment, Inc. *
    4,943       63,863  
Regis Corp.
    4,600       75,762  
Royal Caribbean Cruises Ltd.
    11,460       403,965  
Ryman Hospitality Properties
    3,873       128,661  
Service Corp. International
    17,087       238,022  
SHFL Entertainment, Inc. *
    4,148       57,076  
Six Flags Entertainment Corp.
    4,347       267,253  
Sonic Corp. *
    5,068       51,339  
Sotheby’s
    5,164       149,033  
Starbucks Corp.
    60,818       3,154,630  
Starwood Hotels & Resorts Worldwide, Inc.
    15,604       841,992  
Steiner Leisure Ltd. *
    1,093       50,278  
Stewart Enterprises, Inc., Class A
    6,516       49,782  
Strayer Education, Inc. (a)
    1,448       75,774  
Texas Roadhouse, Inc.
    5,068       84,179  
The Cheesecake Factory, Inc.
    4,062       138,880  
The Wendy’s Co.
    29,684       138,327  
Vail Resorts, Inc.
    2,896       163,103  
Weight Watchers International, Inc. (a)
    2,048       106,414  
WMS Industries, Inc. *
    3,620       61,178  
Wyndham Worldwide Corp.
    11,254       552,459  
Wynn Resorts Ltd.
    6,516       732,398  
Yum! Brands, Inc.
    36,247       2,431,449  
                 
              26,608,997  
 
Diversified Financials 5.3%
Affiliated Managers Group, Inc. *
    4,344       559,811  
American Express Co.
    78,916       4,411,404  
Ameriprise Financial, Inc.
    16,746       1,015,980  
Bank of America Corp.
    860,112       8,480,704  
BlackRock, Inc.
    10,145       1,998,971  
Capital One Financial Corp.
    46,336       2,668,954  
Cash America International, Inc.
    2,315       86,211  
CBOE Holdings, Inc.
    8,006       240,020  
Citigroup, Inc.
    234,576       8,109,292  
CME Group, Inc.
    24,286       1,342,287  
Cohen & Steers, Inc. (a)
    2,172       62,076  
Credit Acceptance Corp. *
    724       66,796  
DFC Global Corp. *
    2,896       50,535  
Discover Financial Services
    40,932       1,703,181  
E*TRADE Financial Corp. *
    19,548       164,594  
Eaton Vance Corp.
    9,412       300,055  
Evercore Partners, Inc., Class A
    1,448       39,777  
EZCORP, Inc., Class A *
    4,344       83,492  
Federated Investors, Inc., Class B (a)
    8,688       172,457  
Financial Engines, Inc. *
    3,620       94,916  
First Cash Financial Services, Inc. *
    2,187       105,654  
Franklin Resources, Inc.
    11,014       1,454,068  
GAMCO Investors, Inc., Class A
    1,196       58,604  
Greenhill & Co., Inc.
    2,042       97,036  
HFF, Inc., Class A *
    3,620       53,685  
Interactive Brokers Group, Inc., Class A
    3,487       53,316  
IntercontinentalExchange, Inc. *
    5,792       765,413  
Invesco Ltd.
    36,924       922,731  
Janus Capital Group, Inc.
    14,480       118,736  
Jefferies Group, Inc.
    11,739       199,093  
JPMorgan Chase & Co.
    303,356       12,461,865  
KBW, Inc.
    2,631       45,385  
 
 
 
 5

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Legg Mason, Inc.
    10,287       262,627  
Leucadia National Corp.
    15,928       352,805  
LPL Financial Holdings, Inc.
    2,813       78,792  
MarketAxess Holdings, Inc.
    2,541       78,415  
Moody’s Corp.
    15,398       748,035  
Morgan Stanley
    109,921       1,854,367  
MSCI, Inc. *
    10,136       293,944  
Nelnet, Inc., Class A
    2,248       64,270  
Northern Trust Corp.
    17,376       834,396  
NYSE Euronext
    20,996       490,257  
PHH Corp. *
    4,532       99,296  
PICO Holdings, Inc. *
    1,754       31,747  
Raymond James Financial, Inc.
    8,874       334,994  
SEI Investments Co.
    10,724       236,035  
SLM Corp.
    37,406       619,069  
State Street Corp.
    38,089       1,692,675  
Stifel Financial Corp. *
    4,344       132,144  
T. Rowe Price Group, Inc.
    20,272       1,310,990  
TD Ameritrade Holding Corp.
    18,824       304,949  
The Bank of New York Mellon Corp.
    95,620       2,289,143  
The Charles Schwab Corp. (b)
    87,144       1,141,586  
The Goldman Sachs Group, Inc.
    36,200       4,263,998  
The NASDAQ OMX Group, Inc.
    9,500       230,185  
Virtus Investment Partners, Inc. *
    400       45,944  
Waddell & Reed Financial, Inc., Class A
    6,816       221,452  
Walter Investment Management Corp. *
    2,230       94,284  
WisdomTree Investments, Inc. *
    8,688       53,084  
World Acceptance Corp. *(a)
    1,448       105,718  
                 
              66,252,300  
 
Energy 10.2%
Alpha Natural Resources, Inc. *
    15,928       119,141  
Anadarko Petroleum Corp.
    39,820       2,914,426  
Apache Corp.
    31,132       2,399,966  
Approach Resources, Inc. *
    2,222       52,195  
Arch Coal, Inc.
    16,652       111,901  
Atwood Oceanics, Inc. *
    4,344       199,824  
Baker Hughes, Inc.
    34,752       1,499,549  
Berry Petroleum Co., Class A
    4,344       135,142  
Bill Barrett Corp. *
    5,068       88,082  
Bonanza Creek Energy, Inc. *
    1,754       41,570  
Bristow Group, Inc.
    2,766       144,109  
C&J Energy Services, Inc. *(a)
    1,711       34,169  
Cabot Oil & Gas Corp.
    17,376       818,410  
Cameron International Corp. *
    20,272       1,093,674  
CARBO Ceramics, Inc. (a)
    1,595       122,129  
Carrizo Oil & Gas, Inc. *
    2,896       60,092  
Cheniere Energy, Inc. *
    16,958       284,894  
Chesapeake Energy Corp.
    41,426       705,485  
Chevron Corp.
    156,784       16,570,501  
Cimarex Energy Co.
    7,240       435,269  
Clean Energy Fuels Corp. *(a)
    5,068       67,202  
Cloud Peak Energy, Inc. *
    5,068       96,140  
Cobalt International Energy, Inc. *
    14,822       345,649  
Comstock Resources, Inc. *
    3,620       59,368  
Concho Resources, Inc. *
    8,311       667,041  
ConocoPhillips
    97,016       5,524,091  
CONSOL Energy, Inc.
    17,999       564,269  
Contango Oil & Gas Co. *
    724       29,677  
Continental Resources, Inc. *
    4,544       312,173  
Crosstex Energy, Inc.
    4,222       54,253  
CVR Energy, Inc. *
    1,448       66,231  
Denbury Resources, Inc. *
    31,181       481,123  
Devon Energy Corp.
    30,408       1,571,181  
Diamond Offshore Drilling, Inc.
    5,468       377,292  
Dresser-Rand Group, Inc. *
    5,941       313,744  
Dril-Quip, Inc. *
    2,943       207,099  
Energen Corp.
    5,792       257,918  
Ensco plc, Class A
    18,225       1,061,242  
EOG Resources, Inc.
    21,720       2,554,706  
EPL Oil & Gas, Inc. *
    3,650       76,613  
EQT Corp.
    12,308       739,218  
EXCO Resources, Inc. (a)
    12,308       95,510  
Exterran Holdings, Inc. *
    5,096       106,353  
Exxon Mobil Corp.
    368,698       32,497,042  
FMC Technologies, Inc. *
    19,012       776,830  
Forest Oil Corp. *
    8,688       55,343  
Forum Energy Technologies, Inc. *
    1,448       36,547  
Geospace Technologies Corp. *
    1,620       123,395  
Gulfmark Offshore, Inc., Class A *
    2,172       68,070  
Gulfport Energy Corp. *
    3,640       138,466  
Halcon Resources Corp. *
    7,770       48,019  
Halliburton Co.
    73,848       2,462,831  
Helix Energy Solutions Group, Inc. *
    7,964       139,450  
Helmerich & Payne, Inc.
    8,364       436,601  
Hercules Offshore, Inc. *
    12,874       66,430  
Hess Corp.
    23,892       1,185,282  
HollyFrontier Corp.
    16,427       744,636  
Hornbeck Offshore Services, Inc. *
    2,896       104,169  
ION Geophysical Corp. *
    13,756       81,986  
Key Energy Services, Inc. *
    13,756       92,028  
Kinder Morgan, Inc.
    50,206       1,697,465  
Kodiak Oil & Gas Corp. *
    19,584       168,031  
Laredo Petroleum Holdings, Inc. *
    2,438       46,371  
Lufkin Industries, Inc.
    2,896       158,585  
Magnum Hunter Resources Corp. *
    10,192       41,074  
Marathon Oil Corp.
    57,196       1,764,497  
Marathon Petroleum Corp.
    27,512       1,638,064  
McDermott International, Inc. *
    18,824       198,217  
McMoRan Exploration Co. *(a)
    7,998       68,223  
Murphy Oil Corp.
    15,204       862,675  
Nabors Industries Ltd. *
    23,892       351,212  
National-Oilwell Varco, Inc.
    34,028       2,324,112  
Newfield Exploration Co. *
    10,860       264,332  
Newpark Resources, Inc. *
    7,270       56,706  
Noble Corp.
    20,515       707,562  
Noble Energy, Inc.
    14,480       1,415,420  
Northern Oil and Gas, Inc. *
    5,068       79,568  
Oasis Petroleum, Inc. *
    5,792       175,034  
Occidental Petroleum Corp.
    65,160       4,900,684  
Oceaneering International, Inc.
    8,688       457,684  
Oil States International, Inc. *
    4,344       307,208  
Parker Drilling Co. *
    9,269       38,837  
Patterson-UTI Energy, Inc.
    13,032       231,448  
PDC Energy, Inc. *
    2,896       103,908  
Peabody Energy Corp.
    22,444       563,569  
Phillips 66
    50,680       2,654,112  
Pioneer Energy Services Corp. *
    4,973       35,955  
Pioneer Natural Resources Co.
    9,759       1,044,213  
Plains Exploration & Production Co. *
    10,264       366,425  
 
 
 
6 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
QEP Resources, Inc.
    13,920       391,430  
Range Resources Corp.
    13,032       834,309  
Rentech, Inc. *
    29,400       82,908  
Resolute Energy Corp. *
    6,590       56,279  
Rex Energy Corp. *
    5,880       77,322  
Rosetta Resources, Inc. *
    4,114       184,883  
Rowan Cos. plc, Class A *
    10,136       321,615  
RPC, Inc. (a)
    3,936       45,500  
SandRidge Energy, Inc. *(a)
    28,257       165,303  
Schlumberger Ltd.
    105,704       7,570,520  
SEACOR Holdings, Inc. *
    1,448       131,189  
SemGroup Corp., Class A *
    3,620       136,402  
SM Energy Co.
    5,068       251,829  
Solazyme, Inc. *(a)
    4,360       32,526  
Southwestern Energy Co. *
    27,512       954,941  
Spectra Energy Corp.
    51,404       1,436,742  
Stone Energy Corp. *
    3,970       82,298  
Superior Energy Services, Inc. *
    12,608       256,068  
Swift Energy Co. *
    2,896       44,830  
Targa Resources Corp.
    2,896       145,061  
Teekay Corp.
    3,142       101,235  
Tesoro Corp.
    11,584       489,771  
The Williams Cos., Inc.
    50,680       1,664,331  
Tidewater, Inc.
    4,344       194,872  
Transocean Ltd.
    28,960       1,337,952  
Ultra Petroleum Corp. *(a)
    12,308       246,775  
Unit Corp. *
    3,620       162,610  
VAALCO Energy, Inc. *
    6,590       55,817  
Valero Energy Corp.
    44,888       1,448,087  
W&T Offshore, Inc.
    2,896       47,987  
Weatherford International Ltd. *
    60,092       625,558  
Western Refining, Inc.
    5,068       147,225  
Whiting Petroleum Corp. *
    9,282       389,287  
World Fuel Services Corp.
    5,792       225,598  
WPX Energy, Inc. *
    15,383       242,898  
                 
              125,818,895  
 
Food & Staples Retailing 2.1%
Casey’s General Stores, Inc.
    3,620       178,828  
Costco Wholesale Corp.
    34,752       3,613,860  
CVS Caremark Corp.
    101,507       4,721,091  
Harris Teeter Supermarkets, Inc.
    3,831       145,540  
PriceSmart, Inc.
    1,448       112,249  
Rite Aid Corp. *
    48,776       49,264  
Safeway, Inc. (a)
    19,043       325,826  
Spartan Stores, Inc.
    2,940       44,218  
SUPERVALU, Inc. (a)
    16,771       39,915  
Susser Holdings Corp. *
    1,277       46,623  
Sysco Corp.
    47,060       1,489,449  
The Andersons, Inc.
    2,172       91,615  
The Fresh Market, Inc. *
    3,196       165,649  
The Kroger Co.
    43,215       1,133,962  
United Natural Foods, Inc. *
    3,620       187,407  
Wal-Mart Stores, Inc.
    134,340       9,675,167  
Walgreen Co.
    68,196       2,312,526  
Weis Markets, Inc.
    1,448       56,631  
Whole Foods Market, Inc.
    13,632       1,272,683  
                 
              25,662,503  
 
Food, Beverage & Tobacco 5.5%
Altria Group, Inc.
    162,905       5,507,818  
Annie’s, Inc. *(a)
    777       27,871  
Archer-Daniels-Midland Co.
    52,289       1,396,116  
B&G Foods, Inc.
    4,344       126,758  
Beam, Inc.
    12,408       696,213  
Brown-Forman Corp., Class B
    11,978       840,616  
Bunge Ltd.
    11,584       847,485  
Cal-Maine Foods, Inc.
    1,077       49,510  
Campbell Soup Co.
    14,344       527,142  
Coca-Cola Enterprises, Inc.
    21,970       685,025  
ConAgra Foods, Inc.
    32,724       977,139  
Constellation Brands, Inc., Class A *
    11,766       422,164  
Darling International, Inc. *
    9,412       158,780  
Dean Foods Co. *
    14,786       253,432  
Dole Food Co., Inc. *
    2,908       33,384  
Dr. Pepper Snapple Group, Inc.
    16,825       754,601  
Flowers Foods, Inc.
    9,176       216,003  
Fresh Del Monte Produce, Inc.
    3,620       93,939  
General Mills, Inc.
    51,563       2,113,567  
Green Mountain Coffee Roasters, Inc. *(a)
    10,289       377,298  
H.J. Heinz Co.
    26,064       1,523,702  
Hillshire Brands Co.
    9,430       262,626  
Hormel Foods Corp.
    11,584       359,220  
Ingredion, Inc.
    6,516       423,214  
J&J Snack Foods Corp.
    1,500       94,350  
Kellogg Co.
    19,548       1,084,132  
Kraft Foods Group, Inc. *
    47,227       2,135,605  
Lancaster Colony Corp.
    1,460       110,580  
Lorillard, Inc.
    10,383       1,258,004  
McCormick & Co., Inc. Non Voting Shares
    10,536       680,204  
Mead Johnson Nutrition Co.
    16,652       1,135,500  
Molson Coors Brewing Co., Class B
    12,308       510,290  
Mondelez International, Inc., Class A
    141,580       3,665,506  
Monster Beverage Corp. *
    12,308       640,631  
PepsiCo, Inc.
    124,528       8,743,111  
Philip Morris International, Inc.
    134,664       12,103,600  
Pilgrim’s Pride Corp. *
    6,893       49,216  
Post Holdings, Inc. *
    2,172       74,804  
Ralcorp Holdings, Inc. *
    4,344       387,224  
Reynolds American, Inc.
    26,292       1,149,486  
Sanderson Farms, Inc.
    2,172       104,191  
Smart Balance, Inc. *
    3,620       44,997  
Smithfield Foods, Inc. *
    12,308       275,330  
Snyders-Lance, Inc.
    4,344       104,604  
The Boston Beer Co., Inc., Class A *(a)
    724       81,790  
The Coca-Cola Co.
    309,148       11,722,892  
The Hain Celestial Group, Inc. *
    3,620       218,177  
The Hershey Co.
    12,308       901,807  
The J.M. Smucker Co.
    8,735       772,698  
Tootsie Roll Industries, Inc. (a)
    2,226       60,503  
TreeHouse Foods, Inc. *
    2,896       151,866  
Tyson Foods, Inc., Class A
    22,444       430,252  
Universal Corp.
    2,172       108,383  
Vector Group Ltd. (a)
    4,214       68,014  
WhiteWave Foods Co., Class A *(a)
    5,542       84,072  
                 
              67,625,442  
 
 
 
 7

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Health Care Equipment & Services 4.0%
Abaxis, Inc. *
    2,059       77,707  
ABIOMED, Inc. *(a)
    2,637       35,204  
Acadia Healthcare Co., Inc. *
    1,654       37,959  
Accretive Health, Inc. *(a)
    5,792       69,099  
Aetna, Inc.
    26,504       1,144,708  
Air Methods Corp. *
    838       91,484  
Alere, Inc. *
    6,516       120,546  
Align Technology, Inc. *
    5,663       155,110  
Allscripts Healthcare Solutions, Inc. *
    15,204       169,068  
AMERIGROUP Corp. *
    4,344       398,866  
AmerisourceBergen Corp.
    20,090       848,200  
AmSurg Corp. *
    2,430       68,089  
Analogic Corp.
    928       68,366  
ArthroCare Corp. *
    2,266       75,888  
athenahealth, Inc. *
    2,896       184,446  
Baxter International, Inc.
    44,164       2,926,748  
Becton, Dickinson & Co.
    15,804       1,211,693  
Bio-Reference Labs, Inc. *
    2,020       53,187  
BioScrip, Inc. *
    4,462       45,959  
Boston Scientific Corp. *
    113,061       626,358  
Brookdale Senior Living, Inc. *
    7,240       185,054  
C.R. Bard, Inc.
    6,153       609,209  
Cantel Medical Corp.
    1,720       47,197  
Cardinal Health, Inc.
    27,082       1,095,467  
CareFusion Corp. *
    18,100       505,352  
Centene Corp. *
    4,344       190,745  
Cerner Corp. *
    11,584       894,516  
Chemed Corp.
    1,495       101,780  
CIGNA Corp.
    23,296       1,217,682  
Community Health Systems, Inc. *
    7,964       234,619  
Computer Programs & Systems, Inc.
    921       46,114  
Conceptus, Inc. *
    2,431       50,589  
CONMED Corp.
    2,209       61,035  
Coventry Health Care, Inc.
    10,577       462,003  
Covidien plc
    38,372       2,229,797  
Cyberonics, Inc. *
    1,842       95,231  
DaVita HealthCare Partners, Inc. *
    6,810       735,480  
DENTSPLY International, Inc.
    11,584       459,885  
Dexcom, Inc. *
    6,516       85,229  
Edwards Lifesciences Corp. *
    9,412       816,679  
Emeritus Corp. *
    2,360       53,383  
Endologix, Inc. *
    4,465       65,457  
Express Scripts Holding Co. *
    64,636       3,480,649  
Greatbatch, Inc. *
    1,854       41,863  
Haemonetics Corp. *
    2,172       175,997  
Hanger, Inc. *
    2,705       70,628  
HCA Holdings, Inc.
    13,756       436,753  
Health Management Associates, Inc., Class A *
    20,996       166,918  
Health Net, Inc. *
    7,964       187,552  
HEALTHSOUTH Corp. *
    7,240       159,208  
HealthStream, Inc. *
    1,554       36,861  
Henry Schein, Inc. *
    7,240       584,775  
Hill-Rom Holdings, Inc.
    5,068       141,701  
HMS Holdings Corp. *
    6,690       155,007  
Hologic, Inc. *
    20,272       386,790  
Humana, Inc.
    13,032       852,423  
ICU Medical, Inc. *
    910       53,590  
IDEXX Laboratories, Inc. *
    4,358       407,342  
Insulet Corp. *
    3,620       79,459  
Integra LifeSciences Holdings Corp. *
    2,186       84,729  
Intuitive Surgical, Inc. *
    3,185       1,684,865  
IPC The Hospitalist Co. *
    1,210       45,678  
Kindred Healthcare, Inc. *
    7,240       78,554  
Laboratory Corp. of America Holdings *
    7,964       673,675  
Landauer, Inc.
    777       46,294  
LifePoint Hospitals, Inc. *
    4,344       156,297  
Magellan Health Services, Inc. *
    2,896       150,244  
MAKO Surgical Corp. *(a)
    3,620       49,956  
Masimo Corp.
    4,344       90,008  
McKesson Corp.
    18,824       1,778,303  
MedAssets, Inc. *
    4,370       70,357  
Medidata Solutions, Inc. *
    2,059       82,360  
MEDNAX, Inc. *
    3,920       309,680  
Medtronic, Inc.
    81,229       3,420,553  
Meridian Bioscience, Inc.
    5,068       101,512  
Merit Medical Systems, Inc. *
    3,620       50,246  
Molina Healthcare, Inc. *
    2,361       65,730  
MWI Veterinary Supply, Inc. *
    971       108,402  
National Healthcare Corp.
    777       34,755  
Neogen Corp. *
    2,172       98,935  
NuVasive, Inc. *
    3,807       55,278  
NxStage Medical, Inc. *
    4,344       52,215  
Omnicare, Inc.
    9,412       341,091  
Omnicell, Inc. *
    2,531       38,648  
OraSure Technologies, Inc. *
    2,896       22,299  
Orthofix International N.V. *
    1,486       55,354  
Owens & Minor, Inc.
    5,068       138,762  
Patterson Cos., Inc.
    6,710       228,811  
PSS World Medical, Inc. *
    5,068       144,134  
Quality Systems, Inc.
    4,344       79,104  
Quest Diagnostics, Inc.
    12,608       728,490  
Quidel Corp. *
    2,231       39,109  
ResMed, Inc.
    11,584       475,987  
Select Medical Holdings Corp. *
    6,750       74,520  
Sirona Dental Systems, Inc. *
    4,419       276,674  
St. Jude Medical, Inc.
    25,199       863,822  
STERIS Corp.
    4,344       148,434  
Stryker Corp.
    22,938       1,242,322  
Sunrise Senior Living, Inc. *
    5,808       83,868  
Team Health Holdings, Inc. *
    3,620       101,324  
Teleflex, Inc.
    3,620       250,504  
Tenet Healthcare Corp. *
    9,753       282,447  
The Cooper Cos., Inc.
    3,620       343,683  
The Ensign Group, Inc.
    1,277       32,934  
Thoratec Corp. *
    4,344       161,597  
Triple-S Management Corp., Class B *
    2,485       43,363  
UnitedHealth Group, Inc.
    82,206       4,471,184  
Universal American Corp.
    6,516       54,018  
Universal Health Services, Inc., Class B
    7,240       326,307  
Vanguard Health Systems, Inc. *
    5,562       58,790  
Varian Medical Systems, Inc. *
    8,893       615,040  
VCA Antech, Inc. *
    6,516       135,402  
Vocera Communications, Inc. *
    1,177       28,942  
Volcano Corp. *
    4,344       118,417  
WellCare Health Plans, Inc. *
    3,620       174,737  
WellPoint, Inc.
    25,834       1,444,121  
 
 
 
8 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
West Pharmaceutical Services, Inc.
    2,896       156,471  
Wright Medical Group, Inc. *
    4,344       91,745  
Zimmer Holdings, Inc.
    13,903       917,181  
                 
              50,146,966  
 
Household & Personal Products 2.1%
Avon Products, Inc.
    34,028       474,691  
Central Garden & Pet Co., Class A *
    3,208       37,630  
Church & Dwight Co., Inc.
    11,584       627,274  
Colgate-Palmolive Co.
    35,576       3,859,996  
Elizabeth Arden, Inc. *
    1,942       90,128  
Energizer Holdings, Inc.
    5,182       413,316  
Harbinger Group, Inc. *
    4,662       39,860  
Herbalife Ltd.
    9,412       432,670  
Kimberly-Clark Corp.
    31,755       2,722,038  
Nu Skin Enterprises, Inc., Class A
    5,068       230,087  
Prestige Brands Holdings, Inc. *
    3,913       84,521  
Revlon, Inc., Class A *
    2,531       37,762  
Schiff Nutrition International, Inc. *
    1,912       80,285  
Spectrum Brands Holdings, Inc.
    1,890       90,399  
The Clorox Co.
    10,283       785,107  
The Estee Lauder Cos., Inc., Class A
    19,124       1,113,973  
The Procter & Gamble Co.
    220,072       15,367,628  
WD-40 Co.
    1,152       54,420  
                 
              26,541,785  
 
Insurance 4.0%
ACE Ltd.
    26,988       2,138,259  
Aflac, Inc.
    37,648       1,994,968  
Alleghany Corp. *
    1,448       508,248  
Allied World Assurance Co. Holdings AG
    2,896       235,068  
American Equity Investment Life Holding Co.
    4,943       56,993  
American Financial Group, Inc.
    7,240       287,066  
American International Group, Inc. *
    93,396       3,094,210  
American National Insurance Co.
    1,806       124,596  
AMERISAFE, Inc. *
    1,454       37,630  
AmTrust Financial Services, Inc.
    2,361       68,044  
Aon plc
    26,085       1,481,628  
Arch Capital Group Ltd. *
    10,860       489,786  
Argo Group International Holdings Ltd.
    2,896       96,118  
Arthur J. Gallagher & Co.
    10,136       370,167  
Aspen Insurance Holdings Ltd.
    5,792       181,290  
Assurant, Inc.
    6,394       218,739  
Assured Guaranty Ltd.
    15,437       215,346  
Axis Capital Holdings Ltd.
    9,453       340,024  
Berkshire Hathaway, Inc., Class B *
    146,248       12,881,524  
Brown & Brown, Inc.
    9,412       252,618  
Cincinnati Financial Corp.
    12,308       498,720  
Citizens, Inc. *
    3,508       35,291  
CNA Financial Corp.
    2,912       82,206  
CNO Financial Group, Inc.
    18,508       168,423  
Employers Holdings, Inc.
    2,896       55,285  
Endurance Specialty Holdings Ltd.
    4,344       174,629  
Enstar Group Ltd. *
    724       74,145  
Erie Indemnity Co., Class A
    2,186       155,818  
Everest Re Group Ltd.
    4,344       471,194  
FBL Financial Group, Inc., Class A
    1,720       57,173  
Fidelity National Financial, Inc., Class A
    16,793       406,559  
First American Financial Corp.
    8,688       206,774  
Genworth Financial, Inc., Class A *
    38,372       228,313  
Greenlight Capital Re Ltd., Class A *
    2,172       50,238  
Hartford Financial Services Group, Inc.
    34,841       737,932  
HCC Insurance Holdings, Inc.
    8,688       320,414  
Hilltop Holdings, Inc. *
    3,108       44,413  
Horace Mann Educators Corp.
    3,501       66,939  
Infinity Property & Casualty Corp.
    724       39,617  
Kemper Corp.
    4,344       128,626  
Lincoln National Corp.
    22,161       547,377  
Loews Corp.
    24,851       1,015,909  
Maiden Holdings Ltd.
    3,985       35,785  
Markel Corp. *
    724       346,796  
Marsh & McLennan Cos., Inc.
    43,347       1,526,681  
MBIA, Inc. *
    12,096       108,138  
Mercury General Corp.
    2,896       120,532  
MetLife, Inc.
    84,708       2,811,459  
Montpelier Re Holdings Ltd.
    4,485       98,177  
National Financial Partners Corp. *
    3,620       60,128  
Old Republic International Corp.
    18,968       198,974  
OneBeacon Insurance Group Ltd., Class A
    3,440       46,371  
PartnerRe Ltd.
    5,252       435,286  
Platinum Underwriters Holdings Ltd.
    2,566       114,238  
Primerica, Inc.
    3,620       103,641  
Principal Financial Group, Inc.
    22,486       610,495  
ProAssurance Corp.
    2,896       262,609  
Protective Life Corp.
    6,516       176,909  
Prudential Financial, Inc.
    37,118       1,934,590  
Reinsurance Group of America, Inc.
    5,792       296,550  
RenaissanceRe Holdings Ltd.
    4,344       359,510  
RLI Corp.
    1,448       93,309  
Safety Insurance Group, Inc.
    1,448       65,001  
Selective Insurance Group, Inc.
    4,344       81,146  
StanCorp Financial Group, Inc.
    3,620       123,116  
Symetra Financial Corp.
    6,119       74,835  
The Allstate Corp.
    38,573       1,561,435  
The Chubb Corp.
    21,115       1,625,644  
The Hanover Insurance Group, Inc.
    4,344       158,773  
The Navigators Group, Inc. *
    730       38,259  
The Progressive Corp.
    45,299       962,604  
The Travelers Cos., Inc.
    31,188       2,208,734  
Torchmark Corp.
    8,172       424,862  
Tower Group, Inc.
    2,896       48,942  
United Fire Group, Inc.
    1,654       34,287  
Unum Group
    22,960       468,154  
Validus Holdings Ltd.
    7,479       265,205  
W.R. Berkley Corp.
    8,832       351,072  
White Mountains Insurance Group Ltd.
    412       212,287  
XL Group plc
    24,772       602,703  
                 
              49,685,554  
 
Materials 3.9%
A. Schulman, Inc.
    2,325       60,868  
Air Products & Chemicals, Inc.
    16,805       1,393,807  
Airgas, Inc.
    5,482       485,541  
 
 
 
 9

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
AK Steel Holding Corp. (a)
    8,552       34,294  
Albemarle Corp.
    7,240       432,880  
Alcoa, Inc.
    84,288       708,862  
Allegheny Technologies, Inc.
    8,464       221,587  
Allied Nevada Gold Corp. *
    6,516       212,096  
AMCOL International Corp.
    2,006       60,561  
American Vanguard Corp.
    1,820       60,551  
AptarGroup, Inc.
    5,068       241,592  
Ashland, Inc.
    5,792       410,769  
Balchem Corp.
    2,896       103,532  
Ball Corp.
    12,450       556,390  
Bemis Co., Inc.
    8,688       291,917  
Boise, Inc.
    9,412       77,178  
Buckeye Technologies, Inc.
    3,620       100,346  
Cabot Corp.
    5,068       191,216  
Calgon Carbon Corp. *
    4,414       59,766  
Carpenter Technology Corp.
    3,620       175,425  
Celanese Corp., Series A
    13,032       534,833  
CF Industries Holdings, Inc.
    5,068       1,084,704  
Chemtura Corp. *
    8,688       176,540  
Clearwater Paper Corp. *
    2,172       86,337  
Cliffs Natural Resources, Inc.
    11,584       333,040  
Coeur d’Alene Mines Corp. *
    7,240       168,402  
Commercial Metals Co.
    9,412       127,533  
Compass Minerals International, Inc.
    2,896       221,254  
Crown Holdings, Inc. *
    11,878       443,643  
Cytec Industries, Inc.
    3,620       248,477  
Deltic Timber Corp.
    952       65,736  
Domtar Corp.
    2,896       231,999  
E.I. du Pont de Nemours & Co.
    74,572       3,217,036  
Eagle Materials, Inc.
    3,390       180,416  
Eastman Chemical Co.
    12,308       748,942  
Ecolab, Inc.
    20,996       1,513,392  
Flotek Industries, Inc. *
    3,408       39,362  
FMC Corp.
    10,907       604,902  
Freeport-McMoRan Copper & Gold, Inc.
    76,302       2,976,541  
Georgia Gulf Corp.
    2,606       119,511  
Globe Specialty Metals, Inc.
    4,083       56,590  
Graphic Packaging Holding Co. *
    10,202       66,211  
Greif, Inc., Class A
    2,896       118,823  
H.B. Fuller Co.
    3,862       126,867  
Haynes International, Inc.
    1,448       67,390  
Hecla Mining Co.
    20,272       117,578  
Horsehead Holding Corp. *
    3,520       32,736  
Huntsman Corp.
    14,480       238,051  
Innophos Holdings, Inc.
    2,172       104,060  
International Flavors & Fragrances, Inc.
    6,516       423,735  
International Paper Co.
    34,811       1,292,881  
Intrepid Potash, Inc. *
    4,344       92,440  
Kaiser Aluminum Corp.
    1,448       88,140  
KapStone Paper and Packaging Corp. *
    3,640       79,789  
Koppers Holdings, Inc.
    2,172       76,867  
Kraton Performance Polymers, Inc. *
    2,470       58,020  
Louisiana-Pacific Corp. *
    10,860       189,181  
LSB Industries, Inc. *
    1,450       48,473  
LyondellBasell Industries N.V., Class A
    26,982       1,341,815  
Martin Marietta Materials, Inc.
    3,620       325,800  
Materion Corp.
    1,554       31,857  
McEwen Mining, Inc. *
    18,957       70,141  
MeadWestvaco Corp.
    13,756       425,198  
Minerals Technologies, Inc.
    1,462       108,188  
Molycorp, Inc. *(a)
    6,098       54,699  
Monsanto Co.
    42,716       3,912,358  
Myers Industries, Inc.
    2,896       43,064  
Neenah Paper, Inc.
    1,177       33,027  
NewMarket Corp.
    850       225,547  
Newmont Mining Corp.
    39,897       1,878,750  
Noranda Aluminum Holding Corp.
    5,239       31,067  
Nucor Corp.
    25,122       1,034,524  
Olin Corp.
    7,240       150,085  
OM Group, Inc. *
    2,172       43,375  
Owens-Illinois, Inc. *
    13,756       275,533  
P.H. Glatfelter Co.
    3,340       56,747  
Packaging Corp. of America
    7,964       290,208  
PolyOne Corp.
    7,240       145,814  
PPG Industries, Inc.
    12,308       1,529,515  
Praxair, Inc.
    23,892       2,561,461  
Quaker Chemical Corp.
    1,448       70,489  
Reliance Steel & Aluminum Co.
    5,839       329,320  
Resolute Forest Products *(a)
    7,846       91,877  
Rock-Tenn Co., Class A
    5,933       385,882  
Rockwood Holdings, Inc.
    6,092       279,440  
Royal Gold, Inc.
    5,083       410,503  
RPM International, Inc.
    10,860       315,049  
RTI International Metals, Inc. *
    2,330       57,784  
Schnitzer Steel Industries, Inc., Class A
    2,172       61,229  
Schweitzer-Mauduit International, Inc.
    2,896       108,513  
Sealed Air Corp.
    13,520       227,406  
Sensient Technologies Corp.
    4,344       157,253  
Sigma-Aldrich Corp.
    9,565       693,654  
Silgan Holdings, Inc.
    3,721       165,510  
Sonoco Products Co.
    7,964       239,477  
Steel Dynamics, Inc.
    17,376       224,498  
Stepan Co.
    724       72,364  
Stillwater Mining Co. *
    9,070       104,124  
SunCoke Energy, Inc. *
    4,850       78,812  
Texas Industries, Inc. *(a)
    1,642       76,222  
The Dow Chemical Co.
    96,122       2,901,923  
The Mosaic Co.
    21,973       1,187,860  
The Scotts Miracle-Gro Co., Class A
    3,620       150,085  
The Sherwin-Williams Co.
    6,763       1,031,493  
The Valspar Corp.
    7,240       454,527  
Titanium Metals Corp.
    7,964       132,362  
TPC Group, Inc. *
    1,177       56,531  
Tredegar Corp.
    1,960       36,946  
Tronox Ltd., Class A
    1,954       30,248  
United States Steel Corp. (a)
    11,584       249,751  
Valhi, Inc.
    27       325  
Vulcan Materials Co.
    10,242       541,187  
W.R. Grace & Co. *
    5,568       364,537  
Walter Energy, Inc.
    5,068       153,054  
Wausau Paper Corp.
    1,330       11,159  
Westlake Chemical Corp.
    1,595       115,494  
Worthington Industries, Inc.
    5,100       120,156  
                 
              48,535,427  
 
 
 
10 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Media 3.4%
AMC Networks, Inc., Class A *
    5,068       267,388  
Arbitron, Inc.
    2,172       78,996  
Belo Corp., Class A
    7,964       57,341  
Cablevision Systems Corp., Class A
    18,824       260,524  
CBS Corp., Class B Non Voting Shares
    47,382       1,704,804  
Charter Communications, Inc., Class A *
    3,620       256,477  
Cinemark Holdings, Inc.
    8,688       236,314  
Clear Channel Outdoor Holdings, Inc., Class A *
    12,702       82,563  
Comcast Corp., Class A
    213,580       7,940,904  
DIRECTV *
    50,010       2,485,497  
Discovery Communications, Inc., Series A *
    19,642       1,186,573  
DISH Network Corp., Class A *
    18,153       672,387  
DreamWorks Animation SKG, Inc., Class A *
    5,792       99,217  
Gannett Co., Inc.
    20,272       362,869  
John Wiley & Sons, Inc., Class A
    4,020       171,654  
Lamar Advertising Co., Class A *
    5,068       199,020  
Liberty Global, Inc., Series A *
    20,272       1,136,043  
Liberty Media Corp. - Liberty Capital, Series A *
    8,835       971,762  
Live Nation Entertainment, Inc. *
    10,951       96,150  
Meredith Corp. (a)
    3,620       112,872  
Morningstar, Inc.
    2,172       138,639  
National CineMedia, Inc.
    5,096       72,873  
News Corp., Class A
    162,098       3,994,095  
Omnicom Group, Inc.
    21,090       1,049,017  
Pandora Media, Inc. *(a)
    7,506       65,452  
Regal Entertainment Group, Class A (a)
    6,516       101,519  
Scholastic Corp.
    1,850       51,911  
Scripps Networks Interactive, Inc., Class A
    7,240       427,450  
Sinclair Broadcast Group, Inc., Class A
    3,985       43,954  
Sirius XM Radio, Inc. *
    288,422       801,813  
The Interpublic Group of Cos., Inc.
    34,787       376,395  
The Madison Square Garden Co., Class A *
    4,797       210,109  
The McGraw-Hill Cos., Inc.
    22,444       1,192,001  
The New York Times Co., Class A *
    13,032       105,689  
The Walt Disney Co.
    143,352       7,118,860  
The Washington Post Co., Class B
    312       114,523  
Time Warner Cable, Inc.
    24,388       2,314,177  
Time Warner, Inc.
    75,490       3,570,677  
Valassis Communications, Inc. *
    3,620       94,048  
Viacom, Inc., Class B
    37,663       1,943,787  
                 
              42,166,344  
 
Pharmaceuticals, Biotechnology & Life Sciences 7.8%
Abbott Laboratories
    125,252       8,141,380  
Achillion Pharmaceuticals, Inc. *
    5,445       42,416  
Acorda Therapeutics, Inc. *
    3,137       78,990  
Affymax, Inc. *
    2,731       66,746  
Agilent Technologies, Inc.
    27,512       1,053,434  
Akorn, Inc. *
    5,159       69,595  
Alexion Pharmaceuticals, Inc. *
    15,304       1,469,490  
Alkermes plc *
    9,618       185,724  
Allergan, Inc.
    24,616       2,283,134  
Alnylam Pharmaceuticals, Inc. *
    4,810       81,626  
Amgen, Inc.
    61,410       5,453,208  
Arena Pharmaceuticals, Inc. *(a)
    15,510       137,419  
ARIAD Pharmaceuticals, Inc. *
    14,480       323,773  
Arqule, Inc. *
    4,344       11,555  
Array BioPharma, Inc. *
    7,270       28,571  
Auxilium Pharmaceuticals, Inc. *
    3,620       69,287  
AVEO Pharmaceuticals, Inc. *
    4,700       30,550  
Bio-Rad Laboratories, Inc., Class A *
    1,448       151,301  
Biogen Idec, Inc. *
    19,548       2,914,411  
BioMarin Pharmaceutical, Inc. *
    9,765       474,579  
Bristol-Myers Squibb Co.
    133,857       4,367,754  
Bruker Corp. *
    6,516       95,134  
Celgene Corp. *
    34,322       2,697,366  
Cepheid, Inc. *
    5,792       187,777  
Charles River Laboratories International, Inc. *
    3,914       150,180  
Clovis Oncology, Inc. *(a)
    2,330       35,835  
Covance, Inc. *
    5,068       288,927  
Cubist Pharmaceuticals, Inc. *
    5,068       205,811  
Dendreon Corp. *(a)
    12,308       54,771  
Dynavax Technologies Corp. *
    14,092       40,021  
Eli Lilly & Co.
    81,400       3,991,856  
Emergent Biosolutions, Inc. *
    3,715       55,799  
Endo Health Solutions, Inc. *
    9,412       269,748  
Exact Sciences Corp. *
    4,560       44,734  
Exelixis, Inc. *(a)
    11,625       56,846  
Forest Laboratories, Inc. *
    18,541       657,464  
Genomic Health, Inc. *
    1,846       51,060  
Gilead Sciences, Inc. *
    60,292       4,521,900  
Halozyme Therapeutics, Inc. *
    7,240       45,105  
Hospira, Inc. *
    13,032       388,354  
Illumina, Inc. *
    10,136       544,405  
ImmunoGen, Inc. *
    6,516       82,688  
Impax Laboratories, Inc. *
    6,520       132,617  
Incyte Corp. *(a)
    10,304       181,350  
Infinity Pharmaceuticals, Inc. *
    2,054       52,069  
InterMune, Inc. *
    6,516       59,687  
Ironwood Pharmaceuticals, Inc. *
    7,396       79,877  
Isis Pharmaceuticals, Inc. *
    7,443       68,476  
Jazz Pharmaceuticals plc *
    3,655       196,931  
Johnson & Johnson
    220,096       15,347,294  
Lexicon Pharmaceuticals, Inc. *
    34,915       60,054  
Life Technologies Corp. *
    14,480       714,588  
Luminex Corp. *
    3,620       62,336  
MAP Pharmaceuticals, Inc. *
    2,431       38,750  
Medicis Pharmaceutical Corp., Class A
    5,068       219,191  
Medivation, Inc. *
    5,792       302,053  
Merck & Co., Inc.
    242,940       10,762,242  
Merrimack Pharmaceuticals, Inc. *(a)
    6,890       49,195  
Mettler-Toledo International, Inc. *
    2,419       452,571  
Momenta Pharmaceuticals, Inc. *
    3,906       41,794  
Mylan, Inc. *
    33,304       905,203  
Myriad Genetics, Inc. *
    7,240       207,933  
Nektar Therapeutics *
    10,860       70,916  
Neurocrine Biosciences, Inc. *
    5,880       43,982  
NPS Pharmaceuticals, Inc. *
    8,803       90,055  
 
 
 
 11

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Onyx Pharmaceuticals, Inc. *
    5,068       382,482  
Opko Health, Inc. *(a)
    13,032       57,080  
Optimer Pharmaceuticals, Inc. *(a)
    4,571       46,578  
Pacira Pharmaceuticals, Inc. *
    2,231       38,039  
PAREXEL International Corp. *
    5,068       163,646  
PDL BioPharma, Inc. (a)
    14,480       114,392  
PerkinElmer, Inc.
    10,136       320,804  
Perrigo Co.
    6,930       717,255  
Pfizer, Inc.
    595,728       14,905,115  
Pharmacyclics, Inc. *
    4,344       230,449  
Questcor Pharmaceuticals, Inc. (a)
    5,068       131,515  
Regeneron Pharmaceuticals, Inc. *
    6,516       1,150,400  
Rigel Pharmaceuticals, Inc. *
    6,607       54,838  
Salix Pharmaceuticals Ltd. *
    4,344       186,140  
Seattle Genetics, Inc. *
    8,005       202,606  
Spectrum Pharmaceuticals, Inc. *(a)
    5,068       60,005  
Synageva BioPharma Corp. *
    2,477       121,200  
Techne Corp.
    2,896       205,326  
The Medicines Co. *
    4,386       94,167  
Theravance, Inc. *
    5,917       133,014  
Thermo Fisher Scientific, Inc.
    29,684       1,886,418  
United Therapeutics Corp. *
    4,344       228,277  
Vertex Pharmaceuticals, Inc. *
    17,152       682,478  
ViroPharma, Inc. *
    5,848       144,972  
VIVUS, Inc. *(a)
    7,240       81,812  
Warner Chilcott plc, Class A
    14,886       173,571  
Waters Corp. *
    7,240       612,142  
Watson Pharmaceuticals, Inc. *
    10,150       893,301  
                 
              96,057,910  
 
Real Estate 3.7%
Acadia Realty Trust
    3,673       91,164  
AG Mortgage Investment Trust, Inc.
    1,654       40,738  
Alexander & Baldwin, Inc. *
    3,620       108,093  
Alexander’s, Inc.
    199       88,157  
Alexandria Real Estate Equities, Inc.
    5,068       344,219  
American Assets Trust, Inc.
    2,632       71,669  
American Campus Communities, Inc.
    8,246       361,175  
American Capital Agency Corp.
    27,188       857,781  
American Capital Mortgage Investment Corp.
    2,530       64,616  
American Realty Capital Trust, Inc.
    13,032       151,953  
American Tower Corp.
    31,856       2,386,970  
Annaly Capital Management, Inc.
    78,916       1,161,644  
Anworth Mortgage Asset Corp.
    15,928       93,975  
Apartment Investment & Management Co., Class A
    11,590       290,561  
Apollo Residential Mortgage, Inc.
    1,854       40,213  
ARMOUR Residential REIT, Inc.
    22,468       157,276  
Ashford Hospitality Trust
    5,792       52,418  
Associated Estates Realty Corp.
    3,501       52,970  
AvalonBay Communities, Inc.
    7,964       1,049,576  
BioMed Realty Trust, Inc.
    12,308       237,175  
Boston Properties, Inc.
    12,308       1,263,170  
Brandywine Realty Trust
    12,308       146,834  
BRE Properties, Inc.
    6,092       296,376  
Camden Property Trust
    6,516       428,101  
Capstead Mortgage Corp.
    8,688       105,472  
CBL & Associates Properties, Inc.
    13,756       309,648  
CBRE Group, Inc., Class A *
    24,109       456,383  
Chesapeake Lodging Trust
    2,172       40,986  
Chimera Investment Corp.
    78,282       214,493  
Colonial Properties Trust
    7,240       147,696  
Colony Financial, Inc.
    2,642       52,893  
CommonWealth REIT
    7,240       109,541  
Coresite Realty Corp.
    1,448       37,069  
Corporate Office Properties Trust
    6,328       156,175  
Cousins Properties, Inc.
    8,186       67,207  
CreXus Investment Corp.
    5,370       67,071  
CubeSmart
    8,688       119,894  
CYS Investments, Inc.
    13,191       168,713  
DCT Industrial Trust, Inc.
    24,616       153,850  
DDR Corp.
    19,548       299,280  
DiamondRock Hospitality Co.
    15,242       133,215  
Digital Realty Trust, Inc.
    10,136       654,177  
Douglas Emmett, Inc.
    10,136       230,189  
Duke Realty Corp.
    21,140       285,390  
DuPont Fabros Technology, Inc.
    5,068       117,020  
EastGroup Properties, Inc.
    2,896       151,403  
Education Realty Trust, Inc.
    8,688       89,573  
EPR Properties
    3,587       162,670  
Equity Lifestyle Properties, Inc.
    3,620       237,617  
Equity One, Inc.
    4,800       99,216  
Equity Residential
    23,952       1,329,576  
Essex Property Trust, Inc.
    2,896       406,859  
Extra Space Storage, Inc.
    7,964       279,935  
Federal Realty Investment Trust
    5,068       527,275  
FelCor Lodging Trust, Inc. *
    10,136       42,571  
First Industrial Realty Trust, Inc. *
    7,240       95,568  
First Potomac Realty Trust
    3,950       46,334  
Forest City Enterprises, Inc., Class A *
    10,424       156,881  
Forestar Group, Inc. *
    2,631       38,886  
Franklin Street Properties Corp.
    6,516       75,260  
General Growth Properties, Inc.
    35,694       691,393  
Getty Realty Corp. (a)
    2,054       34,589  
Glimcher Realty Trust
    10,860       116,419  
Government Properties Income Trust
    3,629       83,648  
Hatteras Financial Corp.
    7,840       209,014  
HCP, Inc.
    35,941       1,619,142  
Health Care REIT, Inc.
    20,272       1,193,818  
Healthcare Realty Trust, Inc.
    6,822       162,705  
Healthcare Trust of America, Inc.
    4,560       49,111  
Hersha Hospitality Trust
    11,862       55,633  
Highwoods Properties, Inc.
    5,792       186,734  
Home Properties, Inc.
    4,344       255,818  
Hospitality Properties Trust
    10,136       230,087  
Host Hotels & Resorts, Inc.
    57,452       843,970  
Hudson Pacific Properties, Inc.
    2,231       43,215  
Inland Real Estate Corp.
    6,080       48,458  
Invesco Mortgage Capital, Inc.
    9,188       194,510  
Investors Real Estate Trust
    6,790       57,647  
iStar Financial, Inc. *
    5,816       44,492  
Jones Lang LaSalle, Inc.
    3,620       296,876  
Kennedy-Wilson Holdings, Inc.
    3,620       47,422  
Kilroy Realty Corp.
    5,792       261,219  
Kimco Realty Corp.
    32,580       627,491  
LaSalle Hotel Properties
    6,516       157,101  
Lexington Realty Trust
    10,712       102,728  
Liberty Property Trust
    9,288       323,501  
LTC Properties, Inc.
    2,366       77,416  
 
 
 
12 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Mack-Cali Realty Corp.
    6,836       172,814  
Medical Properties Trust, Inc.
    10,742       125,359  
MFA Financial, Inc.
    28,236       237,465  
Mid-America Apartment Communities, Inc.
    3,196       199,175  
National Health Investors, Inc.
    1,789       99,290  
National Retail Properties, Inc.
    8,517       261,642  
NorthStar Realty Finance Corp.
    10,540       70,934  
OMEGA Healthcare Investors, Inc.
    8,688       199,129  
Pebblebrook Hotel Trust
    4,698       97,953  
Pennsylvania REIT
    5,068       84,433  
Pennymac Mortgage Investment Trust
    3,240       79,866  
Piedmont Office Realty Trust, Inc., Class A
    14,480       255,572  
Plum Creek Timber Co., Inc.
    13,032       558,421  
Post Properties, Inc.
    4,344       213,421  
Potlatch Corp.
    3,620       140,999  
ProLogis, Inc.
    37,648       1,277,773  
PS Business Parks, Inc.
    1,318       84,998  
Public Storage
    11,584       1,629,174  
Ramco-Gershenson Properties Trust
    3,620       48,436  
Rayonier, Inc.
    10,136       505,178  
Realogy Holdings Corp. *
    3,036       114,488  
Realty Income Corp.
    10,860       441,785  
Redwood Trust, Inc.
    7,964       133,158  
Regency Centers Corp.
    7,240       339,194  
Resource Capital Corp.
    6,893       40,807  
Retail Opportunity Investments Corp. (a)
    3,950       50,126  
Retail Properties of America, Inc., Class A
    10,034       123,218  
RLJ Lodging Trust
    8,429       156,695  
Sabra Health Care REIT, Inc.
    2,940       63,798  
Saul Centers, Inc.
    1,079       45,965  
Senior Housing Properties Trust
    14,009       313,101  
Simon Property Group, Inc.
    24,616       3,744,832  
SL Green Realty Corp.
    7,240       545,751  
Sovran Self Storage, Inc.
    2,180       134,702  
Spirit Realty Capital, Inc. *
    7,002       113,642  
STAG Industrial, Inc.
    2,531       47,709  
Starwood Property Trust, Inc.
    9,412       215,158  
Strategic Hotels & Resorts, Inc. *
    14,480       90,210  
Sun Communities, Inc.
    2,184       84,302  
Sunstone Hotel Investors, Inc. *
    10,870       112,178  
Tanger Factory Outlet Centers
    7,445       244,792  
Taubman Centers, Inc.
    5,068       392,618  
The Howard Hughes Corp. *
    2,172       160,033  
The Macerich Co.
    10,860       613,590  
The St. Joe Co. *
    7,964       170,270  
Two Harbors Investment Corp.
    21,720       245,870  
UDR, Inc.
    19,901       457,922  
Universal Health Realty Income Trust
    1,448       70,576  
Ventas, Inc.
    23,468       1,493,738  
Vornado Realty Trust
    13,426       1,026,149  
Washington REIT
    5,068       131,363  
Weingarten Realty Investors
    10,136       275,497  
Weyerhaeuser Co.
    42,769       1,178,714  
WP Carey, Inc.
    4,388       212,906  
Zillow, Inc., Class A *(a)
    1,310       36,051  
                 
              45,479,907  
 
Retailing 4.4%
Aaron’s, Inc.
    6,516       187,009  
Abercrombie & Fitch Co., Class A
    6,516       299,019  
Advance Auto Parts, Inc.
    5,806       424,709  
Aeropostale, Inc. *
    6,516       89,986  
Amazon.com, Inc. *
    29,160       7,349,778  
American Eagle Outfitters, Inc.
    14,480       306,976  
Ann, Inc. *
    4,461       149,667  
Asbury Automotive Group, Inc. *
    2,498       75,415  
Ascena Retail Group, Inc. *
    11,584       232,838  
AutoNation, Inc. *
    3,096       120,558  
AutoZone, Inc. *
    3,049       1,170,115  
Barnes & Noble, Inc. *(a)
    2,426       34,813  
Bed Bath & Beyond, Inc. *
    18,824       1,105,345  
Best Buy Co., Inc.
    22,444       294,241  
Big Lots, Inc. *
    5,196       146,319  
Blue Nile, Inc. *(a)
    977       38,435  
Brown Shoe Co., Inc.
    4,356       82,982  
Cabela’s, Inc. *
    3,902       186,399  
CarMax, Inc. *
    18,100       656,306  
Chico’s FAS, Inc.
    14,480       270,052  
Conn’s, Inc. *
    1,654       46,775  
Core-Mark Holding Co., Inc.
    724       33,123  
Dick’s Sporting Goods, Inc.
    7,640       401,176  
Dillard’s, Inc., Class A
    2,896       257,483  
Dollar General Corp. *
    21,186       1,059,300  
Dollar Tree, Inc. *
    18,884       788,218  
DSW, Inc., Class A
    2,453       166,878  
Expedia, Inc.
    7,455       461,166  
Express, Inc. *
    7,008       104,629  
Family Dollar Stores, Inc.
    7,718       549,522  
Foot Locker, Inc.
    13,032       467,067  
Francesca’s Holdings Corp. *(a)
    2,631       68,485  
Fred’s, Inc., Class A
    2,631       34,992  
GameStop Corp., Class A (a)
    9,800       257,250  
Genesco, Inc. *
    2,172       120,177  
Genuine Parts Co.
    12,308       801,128  
GNC Holdings, Inc., Class A
    6,516       228,907  
Group 1 Automotive, Inc.
    2,172       131,971  
Groupon, Inc. *(a)
    25,720       107,767  
Guess?, Inc.
    4,795       124,047  
Hibbett Sports, Inc. *
    2,042       109,737  
HomeAway, Inc. *
    2,315       47,411  
HSN, Inc.
    2,990       158,141  
J.C. Penney Co., Inc. (a)
    11,301       202,740  
Jos. A. Bank Clothiers, Inc. *
    2,896       124,818  
Kohl’s Corp.
    17,110       763,961  
Liberty Interactive Corp., Series A *
    41,167       794,523  
Liberty Ventures, Series A *
    2,328       136,304  
Limited Brands, Inc.
    19,018       991,789  
Lithia Motors, Inc., Class A
    1,448       51,809  
LKQ Corp. *
    23,568       516,611  
Lowe’s Cos., Inc.
    90,776       3,276,106  
Lumber Liquidators Holdings, Inc. *
    2,120       113,802  
Macy’s, Inc.
    31,997       1,238,284  
Monro Muffler Brake, Inc.
    2,382       76,415  
Netflix, Inc. *(a)
    4,344       354,948  
Nordstrom, Inc.
    12,125       655,841  
 
 
 
 13

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
O’Reilly Automotive, Inc. *
    9,500       893,760  
Office Depot, Inc. *
    22,310       74,962  
OfficeMax, Inc.
    6,793       67,930  
Penske Automotive Group, Inc.
    3,250       94,672  
PetSmart, Inc.
    8,831       623,998  
Pier 1 Imports, Inc.
    8,688       166,723  
Pool Corp.
    4,344       181,970  
Priceline.com, Inc. *
    3,944       2,615,503  
Rent-A-Center, Inc.
    4,609       160,209  
Ross Stores, Inc.
    18,308       1,042,091  
rue21, Inc. *
    1,177       33,792  
Saks, Inc. *(a)
    8,146       85,533  
Sally Beauty Holdings, Inc. *
    12,308       312,008  
Sears Holdings Corp. *(a)
    2,813       118,174  
Select Comfort Corp. *
    5,068       135,721  
Shutterfly, Inc. *
    2,912       78,478  
Signet Jewelers Ltd.
    6,516       350,235  
Sonic Automotive, Inc., Class A
    3,630       71,656  
Stage Stores, Inc.
    2,896       74,920  
Staples, Inc.
    54,300       635,310  
Target Corp.
    52,852       3,336,547  
The Buckle, Inc. (a)
    2,172       111,098  
The Cato Corp., Class A
    2,191       63,670  
The Children’s Place Retail Stores, Inc. *
    1,842       89,540  
The Finish Line, Inc., Class A
    4,064       83,840  
The Gap, Inc.
    23,688       816,288  
The Home Depot, Inc.
    120,625       7,849,069  
The Men’s Wearhouse, Inc.
    4,344       140,919  
The TJX Cos., Inc.
    59,368       2,632,377  
Tiffany & Co.
    9,459       557,892  
Tractor Supply Co.
    5,792       519,079  
TripAdvisor, Inc. *
    8,762       334,621  
Ulta Salon, Cosmetics & Fragrance, Inc.
    5,068       508,219  
Urban Outfitters, Inc. *
    9,030       340,431  
Vitamin Shoppe, Inc. *
    2,896       171,617  
Williams-Sonoma, Inc.
    6,910       312,747  
Zumiez, Inc. *
    2,896       59,889  
                 
              54,789,751  
 
Semiconductors & Semiconductor Equipment 2.0%
Advanced Energy Industries, Inc. *
    2,731       34,930  
Advanced Micro Devices, Inc. *(a)
    50,680       111,496  
Altera Corp.
    26,064       844,213  
Analog Devices, Inc.
    23,892       970,015  
Applied Materials, Inc.
    98,497       1,056,873  
Atmel Corp. *
    36,200       202,358  
ATMI, Inc. *
    2,896       57,688  
Broadcom Corp., Class A *
    40,856       1,322,917  
Brooks Automation, Inc.
    5,792       44,598  
Cabot Microelectronics Corp.
    2,172       70,851  
Cavium, Inc. *
    3,806       134,085  
Cirrus Logic, Inc. *
    5,893       184,569  
Cree, Inc. *
    10,146       327,817  
Cymer, Inc. *
    2,896       253,979  
Cypress Semiconductor Corp.
    13,756       139,623  
Diodes, Inc. *
    2,896       43,845  
Entegris, Inc. *
    10,860       97,306  
Entropic Communications, Inc. *
    6,893       35,775  
Fairchild Semiconductor International, Inc. *
    10,006       133,480  
First Solar, Inc. *(a)
    4,344       117,245  
GT Advanced Technologies, Inc. *(a)
    10,136       34,158  
Hittite Microwave Corp. *
    2,042       123,909  
Integrated Device Technology, Inc. *
    11,424       71,629  
Intel Corp.
    398,924       7,806,943  
International Rectifier Corp. *
    5,792       98,927  
Intersil Corp., Class A
    9,412       67,108  
KLA-Tencor Corp.
    13,756       625,485  
Kulicke & Soffa Industries, Inc. *
    6,516       74,478  
Lam Research Corp. *
    14,499       509,205  
Linear Technology Corp.
    18,253       605,817  
LSI Corp. *
    44,434       299,485  
Marvell Technology Group Ltd.
    41,992       356,092  
Maxim Integrated Products, Inc.
    23,262       679,018  
MEMC Electronic Materials, Inc. *
    19,602       57,434  
Micrel, Inc.
    3,785       36,374  
Microchip Technology, Inc.
    15,204       462,506  
Micron Technology, Inc. *
    80,867       483,585  
Microsemi Corp. *
    7,964       152,431  
MKS Instruments, Inc.
    4,344       105,342  
Monolithic Power Systems, Inc. *
    2,630       55,651  
NVIDIA Corp.
    49,080       587,978  
OmniVision Technologies, Inc. *
    4,584       69,218  
ON Semiconductor Corp. *
    34,752       230,406  
Peregrine Semiconductor Corp. *
    1,954       33,081  
PMC-Sierra, Inc. *
    17,376       89,486  
Power Integrations, Inc.
    2,200       68,442  
Rambus, Inc. *
    8,688       42,484  
RF Micro Devices, Inc. *
    28,236       121,980  
Semtech Corp. *
    5,792       158,411  
Silicon Image, Inc. *
    7,370       34,344  
Silicon Laboratories, Inc. *
    3,620       151,388  
Skyworks Solutions, Inc. *
    15,204       344,371  
Spansion, Inc., Class A *
    3,785       44,360  
Teradyne, Inc. *
    14,480       226,467  
Tessera Technologies, Inc.
    4,344       70,590  
Texas Instruments, Inc.
    90,594       2,669,805  
TriQuint Semiconductor, Inc. *
    13,032       65,942  
Ultratech, Inc. *
    2,896       95,047  
Veeco Instruments, Inc. *
    3,043       86,604  
Volterra Semiconductor Corp. *
    3,620       63,567  
Xilinx, Inc.
    20,696       717,116  
                 
              24,860,327  
 
Software & Services 9.3%
Accelrys, Inc. *
    4,562       40,191  
Accenture plc, Class A
    50,532       3,432,133  
ACI Worldwide, Inc. *
    3,086       133,037  
Activision Blizzard, Inc.
    33,304       380,998  
Acxiom Corp. *
    7,240       128,076  
Adobe Systems, Inc. *
    39,183       1,356,124  
Advent Software, Inc. *
    2,896       64,465  
Akamai Technologies, Inc. *
    14,480       530,258  
Alliance Data Systems Corp. *
    3,967       565,258  
Ancestry.com, Inc. *
    2,457       77,641  
ANSYS, Inc. *
    7,387       489,980  
AOL, Inc. *
    8,022       300,985  
Aspen Technology, Inc. *
    7,393       192,144  
Autodesk, Inc. *
    18,100       599,653  
 
 
 
14 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Automatic Data Processing, Inc.
    38,566       2,189,006  
Bankrate, Inc. *
    3,640       43,789  
Blackbaud, Inc.
    5,068       113,219  
Blucora, Inc. *
    3,108       45,843  
BMC Software, Inc. *
    11,940       489,062  
Booz Allen Hamilton Holding Corp.
    6,048       84,732  
Bottomline Technologies, Inc. *
    3,620       88,726  
Broadridge Financial Solutions, Inc.
    10,157       239,807  
BroadSoft, Inc. *
    2,172       68,700  
CA, Inc.
    27,241       603,661  
CACI International, Inc., Class A *
    2,172       111,098  
Cadence Design Systems, Inc. *
    20,996       267,279  
Cardtronics, Inc. *
    3,620       83,043  
Cass Information Systems, Inc.
    877       41,210  
Citrix Systems, Inc. *
    15,204       929,877  
Cognizant Technology Solutions Corp., Class A *
    23,662       1,590,796  
CommVault Systems, Inc. *
    3,620       240,223  
Computer Sciences Corp.
    12,308       468,442  
Compuware Corp. *
    18,824       176,004  
Comverse Technology, Inc. *
    17,378       61,866  
Comverse, Inc. *
    1,719       49,456  
Concur Technologies, Inc. *
    3,620       237,870  
Constant Contact, Inc. *
    2,310       30,769  
Convergys Corp.
    10,136       158,223  
CoreLogic, Inc. *
    8,405       217,185  
Cornerstone OnDemand, Inc. *
    2,610       73,184  
CoStar Group, Inc. *
    2,172       188,660  
CSG Systems International, Inc. *
    2,896       53,808  
DealerTrack Holdings, Inc. *
    2,896       77,873  
Demand Media, Inc. *
    3,408       30,331  
Demandware, Inc. *
    1,177       32,238  
Dice Holdings, Inc. *
    4,362       37,513  
Digital River, Inc. *
    3,501       51,150  
DST Systems, Inc.
    2,896       166,925  
EarthLink, Inc.
    8,440       55,704  
eBay, Inc. *
    92,613       4,891,819  
Ebix, Inc. (a)
    2,172       36,511  
Electronic Arts, Inc. *
    26,064       386,008  
Ellie Mae, Inc. *
    1,277       31,695  
Eloqua, Inc. *
    2,231       40,270  
EPAM Systems, Inc. *
    1,954       40,194  
EPIQ Systems, Inc.
    2,731       32,745  
Equinix, Inc. *
    3,799       705,702  
Euronet Worldwide, Inc. *
    4,344       96,697  
ExactTarget, Inc. *
    2,020       41,632  
Exlservice Holdings, Inc. *
    2,172       58,318  
Facebook, Inc., Class A *
    39,206       1,097,768  
FactSet Research Systems, Inc.
    3,620       334,452  
Fair Isaac Corp.
    2,628       112,531  
Fidelity National Information Services, Inc.
    20,272       731,819  
Fiserv, Inc. *
    10,874       837,189  
FleetCor Technologies, Inc. *
    3,496       182,456  
Forrester Research, Inc.
    1,177       32,968  
Fortinet, Inc. *
    10,214       204,076  
Gartner, Inc. *
    7,240       346,651  
Genpact Ltd.
    10,589       169,953  
Global Cash Access Holdings, Inc. *
    5,139       40,444  
Global Payments, Inc.
    6,334       278,126  
Google, Inc., Class A *
    21,149       14,769,827  
Guidewire Software, Inc. *
    2,580       77,142  
Heartland Payment Systems, Inc.
    2,771       82,105  
IAC/InterActiveCorp
    6,516       307,229  
iGate Corp. *
    3,347       50,172  
Imperva, Inc. *
    1,077       33,128  
Infoblox, Inc. *
    2,908       55,136  
Informatica Corp. *
    8,564       230,115  
Interactive Intelligence Group, Inc. *
    1,177       37,805  
International Business Machines Corp.
    85,696       16,288,239  
Intuit, Inc.
    22,020       1,319,218  
j2 Global, Inc.
    3,741       113,128  
Jack Henry & Associates, Inc.
    7,240       281,419  
JDA Software Group, Inc. *
    4,344       194,003  
Kenexa Corp. *
    2,059       94,549  
Lender Processing Services, Inc.
    7,240       179,914  
LinkedIn Corp., Class A *
    5,268       569,681  
Liquidity Services, Inc. *
    2,172       89,182  
LivePerson, Inc. *
    3,774       49,779  
Manhattan Associates, Inc. *
    2,172       124,325  
MasterCard, Inc., Class A
    8,688       4,245,652  
MAXIMUS, Inc.
    2,591       163,207  
Mentor Graphics Corp. *
    6,516       97,284  
MICROS Systems, Inc. *
    6,516       283,185  
Microsoft Corp.
    601,644       16,015,763  
MicroStrategy, Inc., Class A *
    724       64,067  
Millennial Media, Inc. *
    4,888       67,210  
Monotype Imaging Holdings, Inc.
    2,896       44,338  
Monster Worldwide, Inc. *
    10,920       59,405  
Netscout Systems, Inc. *
    2,684       67,422  
NetSuite, Inc. *
    2,219       132,297  
NeuStar, Inc., Class A *
    5,792       232,838  
NIC, Inc.
    4,344       65,203  
Nuance Communications, Inc. *
    19,463       432,857  
OpenTable, Inc. *(a)
    1,448       65,001  
OPNET Technologies, Inc.
    1,177       48,893  
Oracle Corp.
    304,080       9,760,968  
Parametric Technology Corp. *
    8,688       175,845  
Paychex, Inc.
    26,064       848,123  
Pegasystems, Inc.
    1,570       31,934  
Progress Software Corp. *
    4,822       96,970  
Proofpoint, Inc. *
    2,431       26,741  
PROS Holdings, Inc. *
    1,954       34,644  
QLIK Technologies, Inc. *
    6,078       117,792  
QuinStreet, Inc. *
    4,362       27,262  
Rackspace Hosting, Inc. *
    8,688       600,515  
RealPage, Inc. *
    2,797       55,353  
Red Hat, Inc. *
    15,204       751,078  
Responsys, Inc. *
    3,508       22,872  
Rovi Corp. *
    8,688       133,274  
SAIC, Inc.
    22,652       261,178  
Salesforce.com, Inc. *
    10,136       1,598,143  
Sapient Corp. *
    8,532       90,354  
ServiceNow, Inc. *(a)
    3,701       120,764  
SolarWinds, Inc. *
    4,521       253,312  
Solera Holdings, Inc.
    5,468       283,024  
Sourcefire, Inc. *
    2,172       106,928  
Splunk, Inc. *
    2,020       61,004  
SS&C Technologies Holdings, Inc. *
    2,769       65,321  
Symantec Corp. *
    57,779       1,083,934  
Synchronoss Technologies, Inc. *
    2,896       52,881  
Synopsys, Inc. *
    11,837       388,254  
Syntel, Inc.
    1,134       68,221  
 
 
 
 15

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Take-Two Interactive Software, Inc. *
    7,240       89,559  
Tangoe, Inc. *
    2,531       33,004  
TeleTech Holdings, Inc. *
    2,966       50,481  
Teradata Corp. *
    13,756       818,207  
TIBCO Software, Inc. *
    12,172       304,909  
TiVo, Inc. *
    10,860       127,062  
TNS, Inc. *
    2,331       34,033  
Total System Services, Inc.
    12,843       281,904  
Tyler Technologies, Inc. *
    2,896       135,880  
Ultimate Software Group, Inc. *
    2,172       205,276  
Unisys Corp. *
    3,620       62,554  
United Online, Inc.
    7,093       40,572  
ValueClick, Inc. *
    6,516       122,957  
Vantiv, Inc., Class A *
    3,349       72,573  
VeriFone Systems, Inc. *
    8,688       264,028  
Verint Systems, Inc. *
    2,018       56,040  
VeriSign, Inc. *
    13,032       444,782  
VirnetX Holding Corp. *(a)
    3,238       111,614  
Virtusa Corp. *
    2,054       32,166  
Visa, Inc., Class A
    41,992       6,286,622  
VMware, Inc., Class A *
    6,708       610,093  
Vocus, Inc. *
    1,854       31,629  
Web.com Group, Inc. *
    2,896       43,759  
WebMD Health Corp. *
    2,896       40,689  
Websense, Inc. *
    3,059       42,704  
Western Union Co.
    49,232       620,815  
WEX, Inc. *
    3,043       218,974  
Workday, Inc., Class A *
    1,668       83,567  
Yahoo!, Inc. *
    83,030       1,558,473  
Yelp, Inc. *(a)
    2,330       44,060  
Zynga, Inc., Class A *
    36,420       89,593  
                 
              115,524,225  
 
Technology Hardware & Equipment 7.1%
3D Systems Corp. *(a)
    3,773       168,691  
Acme Packet, Inc. *
    4,344       86,663  
ADTRAN, Inc. (a)
    5,068       99,536  
Amphenol Corp., Class A
    13,032       806,941  
Anixter International, Inc.
    2,219       135,537  
Apple, Inc.
    74,895       43,834,546  
Arris Group, Inc. *
    10,860       151,714  
Arrow Electronics, Inc. *
    8,605       320,622  
Aruba Networks, Inc. *
    7,964       155,139  
Avnet, Inc. *
    12,308       360,501  
AVX Corp.
    8,566       87,373  
Badger Meter, Inc.
    1,210       54,523  
Benchmark Electronics, Inc. *
    4,532       70,427  
Black Box Corp.
    1,277       31,478  
Brocade Communications Systems, Inc. *
    36,565       207,689  
Ciena Corp. *
    7,240       107,731  
Cisco Systems, Inc.
    422,115       7,982,195  
Cognex Corp.
    3,620       129,668  
Coherent, Inc. *
    2,172       100,455  
Comtech Telecommunications Corp.
    1,590       40,640  
Corning, Inc.
    120,682       1,475,941  
Daktronics, Inc.
    3,885       40,637  
Dell, Inc.
    116,087       1,119,079  
Diebold, Inc.
    5,068       151,584  
Dolby Laboratories, Inc., Class A *
    4,344       144,959  
DTS, Inc. *
    1,554       23,745  
EchoStar Corp., Class A *
    3,170       99,411  
Electro Rent Corp.
    2,054       32,268  
Electronics for Imaging, Inc. *
    3,620       66,463  
EMC Corp. *
    166,961       4,143,972  
Emulex Corp. *
    10,860       79,821  
F5 Networks, Inc. *
    6,516       610,419  
Fabrinet *
    2,908       36,117  
FARO Technologies, Inc. *
    2,172       76,628  
FEI Co.
    2,967       163,274  
Finisar Corp. *
    7,240       98,247  
FLIR Systems, Inc.
    12,308       251,083  
Fusion-io, Inc. *(a)
    5,072       118,330  
Harmonic, Inc. *
    11,760       53,861  
Harris Corp.
    8,982       423,322  
Hewlett-Packard Co.
    156,472       2,032,571  
Infinera Corp. *
    14,480       80,798  
Ingram Micro, Inc., Class A *
    12,308       199,390  
Insight Enterprises, Inc. *
    3,620       61,323  
InterDigital, Inc. (a)
    3,620       154,502  
Intermec, Inc. *
    5,539       41,819  
IPG Photonics Corp. *
    2,266       133,921  
Itron, Inc. *
    2,896       126,845  
Ixia *
    4,383       65,833  
Jabil Circuit, Inc.
    15,928       302,632  
JDS Uniphase Corp. *
    19,548       237,117  
Juniper Networks, Inc. *
    42,716       768,034  
Lexmark International, Inc., Class A (a)
    5,792       140,919  
Littelfuse, Inc.
    1,448       83,564  
Loral Space & Communications, Inc.
    1,448       123,181  
Measurement Specialties, Inc. *
    1,310       40,675  
Methode Electronics, Inc.
    3,508       31,677  
Molex, Inc.
    11,584       305,586  
Motorola Solutions, Inc.
    22,752       1,238,846  
MTS Systems Corp.
    1,155       55,844  
Multi-Fineline Electronix, Inc. *
    1,720       29,395  
National Instruments Corp.
    7,964       193,684  
NCR Corp. *
    12,308       294,530  
NetApp, Inc. *
    29,684       941,280  
NETGEAR, Inc. *
    2,896       100,955  
Newport Corp. *
    3,008       38,322  
OSI Systems, Inc. *
    1,495       91,614  
Palo Alto Networks, Inc. *(a)
    2,012       109,493  
Park Electrochemical Corp.
    1,820       44,353  
Plantronics, Inc.
    4,344       146,089  
Plexus Corp. *
    2,714       62,829  
Polycom, Inc. *
    13,032       136,315  
Power-One, Inc. *
    11,150       46,272  
QLogic Corp. *
    10,136       96,089  
QUALCOMM, Inc.
    135,829       8,641,441  
Quantum Corp. *
    22,687       27,224  
RealD, Inc. *(a)
    3,850       40,656  
Riverbed Technology, Inc. *
    12,314       220,421  
Rofin-Sinar Technologies, Inc. *
    2,365       50,020  
Rogers Corp. *
    1,210       53,760  
SanDisk Corp. *
    19,548       764,327  
Sanmina Corp. *
    5,792       54,561  
ScanSource, Inc. *
    2,024       59,809  
Seagate Technology plc
    28,056       704,206  
Sonus Networks, Inc. *
    20,789       34,718  
Super Micro Computer, Inc. *
    2,940       27,430  
Sycamore Networks, Inc.
    2,431       6,539  
 
 
 
16 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Synaptics, Inc. *
    2,896       77,381  
SYNNEX Corp. *
    1,904       62,870  
TE Connectivity Ltd.
    34,756       1,223,064  
Tech Data Corp. *
    3,620       159,895  
Tellabs, Inc.
    28,236       100,520  
Trimble Navigation Ltd. *
    10,136       563,967  
TTM Technologies, Inc. *
    4,909       44,279  
Universal Display Corp. *
    3,620       86,446  
ViaSat, Inc. *
    3,620       138,393  
Vishay Intertechnology, Inc. *
    11,331       109,911  
Western Digital Corp.
    18,100       605,264  
Xerox Corp.
    104,102       708,935  
Zebra Technologies Corp., Class A *
    4,344       169,199  
                 
              87,432,763  
 
Telecommunication Services 2.7%
AT&T, Inc.
    460,746       15,725,261  
Atlantic Tele-Network, Inc.
    1,448       53,402  
CenturyLink, Inc.
    50,238       1,951,244  
Cincinnati Bell, Inc. *
    15,928       84,896  
Clearwire Corp., Class A *
    28,632       66,426  
Cogent Communications Group, Inc.
    3,620       76,527  
Consolidated Communications Holdings, Inc.
    2,172       32,667  
Crown Castle International Corp. *
    23,274       1,571,460  
Frontier Communications Corp. (a)
    78,916       379,586  
Iridium Communications, Inc. *
    6,693       41,296  
Level 3 Communications, Inc. *
    13,032       245,784  
MetroPCS Communications, Inc. *
    25,198       268,359  
NII Holdings, Inc. *(a)
    13,032       66,072  
NTELOS Holdings Corp.
    2,330       30,057  
Premiere Global Services, Inc. *
    5,068       43,027  
SBA Communications Corp., Class A *
    9,412       647,734  
Shenandoah Telecommunications Co.
    4,460       61,994  
Sprint Nextel Corp. *
    238,920       1,369,012  
Telephone & Data Systems, Inc.
    9,412       216,570  
tw telecom, Inc. *
    12,308       316,192  
United States Cellular Corp. *
    1,448       50,463  
USA Mobility, Inc.
    4,460       51,558  
Verizon Communications, Inc.
    227,336       10,030,064  
Vonage Holdings Corp. *
    28,290       68,745  
Windstream Corp. (a)
    47,060       394,363  
                 
              33,842,759  
 
Transportation 1.8%
Alaska Air Group, Inc. *
    5,792       247,608  
Allegiant Travel Co.
    1,448       107,181  
AMERCO
    724       86,887  
Atlas Air Worldwide Holdings, Inc. *
    2,172       94,004  
Avis Budget Group, Inc. *
    7,512       142,277  
C.H. Robinson Worldwide, Inc.
    13,032       804,596  
Con-way, Inc.
    4,430       124,439  
CSX Corp.
    83,326       1,646,522  
Delta Air Lines, Inc. *
    67,014       670,140  
Expeditors International of Washington, Inc.
    16,652       623,118  
FedEx Corp.
    23,215       2,078,439  
Forward Air Corp.
    2,896       96,292  
Genesee & Wyoming, Inc., Class A *
    3,620       264,079  
Heartland Express, Inc.
    4,125       56,636  
Hertz Global Holdings, Inc. *
    23,597       369,057  
Hub Group, Inc., Class A *
    3,024       97,887  
J.B. Hunt Transport Services, Inc.
    7,110       422,689  
JetBlue Airways Corp. *
    22,444       115,362  
Kansas City Southern
    8,712       680,843  
Kirby Corp. *
    4,344       251,431  
Knight Transportation, Inc.
    3,620       54,409  
Landstar System, Inc.
    4,344       219,676  
Matson, Inc.
    3,620       83,260  
Norfolk Southern Corp.
    25,404       1,533,893  
Old Dominion Freight Line, Inc. *
    5,626       188,133  
Roadrunner Transportation Systems, Inc. *
    1,954       35,192  
Ryder System, Inc.
    4,344       204,472  
Southwest Airlines Co.
    59,368       565,777  
Spirit Airlines, Inc. *
    3,685       61,834  
Swift Transportation Co. *
    6,552       55,430  
Union Pacific Corp.
    37,795       4,640,470  
United Continental Holdings, Inc. *
    26,386       533,525  
United Parcel Service, Inc., Class B
    57,343       4,192,347  
US Airways Group, Inc. *
    13,032       167,982  
UTI Worldwide, Inc.
    8,688       122,675  
Werner Enterprises, Inc.
    3,484       75,568  
Wesco Aircraft Holdings, Inc. *
    3,896       49,713  
                 
              21,763,843  
 
Utilities 3.5%
AGL Resources, Inc.
    9,285       361,929  
ALLETE, Inc.
    3,620       141,940  
Alliant Energy Corp.
    8,688       389,396  
Ameren Corp.
    19,282       577,882  
American Electric Power Co., Inc.
    39,096       1,667,444  
American States Water Co.
    1,448       65,884  
American Water Works Co., Inc.
    13,759       525,181  
Aqua America, Inc.
    10,860       277,364  
Atmos Energy Corp.
    7,240       253,472  
Avista Corp.
    5,792       137,328  
Black Hills Corp.
    3,420       122,060  
California Water Service Group
    3,284       59,112  
Calpine Corp. *
    31,138       537,442  
CenterPoint Energy, Inc.
    33,863       668,117  
CH Energy Group, Inc.
    1,448       94,424  
Chesapeake Utilities Corp.
    830       37,350  
Cleco Corp.
    4,744       191,136  
CMS Energy Corp.
    21,720       530,620  
Consolidated Edison, Inc.
    23,168       1,292,543  
Dominion Resources, Inc.
    45,516       2,326,323  
DTE Energy Co.
    13,632       825,827  
Duke Energy Corp.
    56,024       3,575,452  
Dynegy, Inc. *(a)
    6,472       119,732  
Edison International
    25,846       1,175,476  
El Paso Electric Co.
    3,620       115,297  
Entergy Corp.
    14,480       920,059  
Exelon Corp.
    68,056       2,056,652  
FirstEnergy Corp.
    33,304       1,414,088  
GenOn Energy, Inc. *
    61,643       157,190  
Great Plains Energy, Inc.
    12,090       244,822  
Hawaiian Electric Industries, Inc.
    7,240       180,348  
IDACORP, Inc.
    4,344       185,532  
 
 
 
 17

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Integrys Energy Group, Inc.
    6,192       329,229  
ITC Holdings Corp.
    4,344       341,221  
MDU Resources Group, Inc.
    14,986       310,510  
MGE Energy, Inc.
    1,776       89,777  
National Fuel Gas Co.
    6,602       343,832  
New Jersey Resources Corp.
    3,620       146,900  
NextEra Energy, Inc.
    33,604       2,308,931  
NiSource, Inc.
    22,530       544,550  
Northeast Utilities
    25,235       977,604  
Northwest Natural Gas Co.
    2,896       127,019  
NorthWestern Corp.
    2,896       100,462  
NRG Energy, Inc.
    18,188       383,767  
NV Energy, Inc.
    18,100       331,773  
OGE Energy Corp.
    7,740       442,186  
ONEOK, Inc.
    15,928       714,689  
Ormat Technologies, Inc.
    7,066       130,156  
Otter Tail Corp.
    2,528       61,253  
Pepco Holdings, Inc.
    17,376       343,002  
PG&E Corp.
    34,028       1,393,447  
Piedmont Natural Gas Co., Inc.
    5,668       174,914  
Pinnacle West Capital Corp.
    8,688       447,084  
PNM Resources, Inc.
    6,516       137,683  
Portland General Electric Co.
    5,792       156,558  
PPL Corp.
    46,336       1,359,962  
Public Service Enterprise Group, Inc.
    40,544       1,219,969  
Questar Corp.
    13,909       272,895  
SCANA Corp.
    10,136       469,702  
Sempra Energy
    18,100       1,238,402  
SJW Corp.
    1,920       46,963  
South Jersey Industries, Inc.
    2,896       144,713  
Southwest Gas Corp.
    3,620       151,823  
TECO Energy, Inc.
    15,204       255,579  
The AES Corp.
    51,091       545,141  
The Empire District Electric Co.
    3,252       65,040  
The Laclede Group, Inc.
    1,448       58,948  
The Southern Co.
    69,504       3,026,899  
UGI Corp.
    8,688       288,615  
UIL Holdings Corp.
    3,937       141,220  
Unitil Corp.
    730       18,834  
UNS Energy Corp.
    2,896       123,312  
Vectren Corp.
    6,516       190,593  
Westar Energy, Inc.
    9,898       284,073  
WGL Holdings, Inc.
    4,344       169,677  
Wisconsin Energy Corp.
    18,824       706,465  
Xcel Energy, Inc.
    38,558       1,042,994  
                 
              43,385,788  
                 
Total Common Stock
(Cost $1,123,578,511)     1,233,727,181  
         
                 
                 
 
 Rights 0.0% of net assets
 
Materials 0.0%
McEwen Mining, Inc. *
    18,173       2,817  
                 
Total Rights
(Cost $—)     2,817  
         
                 
                 
 
 Other Investment Company 0.1% of net assets
 
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund
    826,003       826,003  
                 
Total Other Investment Company
(Cost $826,003)     826,003  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 0.4% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    4,811,679       4,811,679  
                 
Total Collateral Invested for Securities on Loan
(Cost $4,811,679)     4,811,679  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $1,124,846,508 and the unrealized appreciation and depreciation were $158,650,603 and ($48,941,110), respectively, with a net unrealized appreciation of $109,709,493.
 
* Non-income producing security.
(a) All or a portion of this security is on loan.
(b) Issuer is affiliated with the fund’s adviser.
 
     
Reg’d —
  Registered
REIT —
  Real Estate Investment Trust
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
 
 
18 

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
 
 
 19

 

 
 Schwab U.S. Broad Market ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $1,233,727,181       $—       $—       $1,233,727,181  
Rights1
    2,817       —       —       2,817  
Other Investment Company1
    826,003       —       —       826,003  
                                 
Total
    $1,234,556,001       $—       $—       $1,234,556,001  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $4,811,679       $—       $—       $4,811,679  
 
     
1
  As categorized in Portfolio Holdings.
 
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
 
                                                                 
    Balance
 		      Change in
 		                  Balance
    as of
 		  Realized
 		  Unrealized
 		          Gross
 		  Gross
 		  as of
    August 31,
 		  Gains
 		  Gains
 		  Gross
 		  Gross
 		  Transfers
 		  Transfers
 		  November 30,
Investments in Securities
 
2012
 
(Losses)
 
(Losses)
 
Purchases
 
Sales
 
in
 
out
 
2012
 
Rights
    $—       $4,294       $4,273       $7,110       ($15,677 )     $—       $—       $—  
                                                                 
Total
    $—       $4,294       $4,273       $7,110       ($15,677 )     $—       $—       $—  
                                                                 
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG54093NOV12
 
 
 
20 

 

Schwab Strategic Trust
Schwab U.S. Large-Cap ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  99 .6%   Common Stock     860,699,479       965,067,342  
  0 .1%   Other Investment Company     484,982       484,982  
 
 
  99 .7%   Total Investments     861,184,461       965,552,324  
  0 .1%   Collateral Invested for Securities on Loan     1,363,187       1,363,187  
  0 .2%   Other Assets and
Liabilities, Net 		            1,262,023  
 
 
  100 .0%   Net Assets             968,177,534  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 99.6% of net assets
 
Automobiles & Components 0.8%
Allison Transmission Holdings, Inc. (a)
    2,865       59,563  
BorgWarner, Inc. *
    7,933       525,958  
Ford Motor Co.
    264,153       3,024,552  
General Motors Co. *
    53,192       1,376,609  
Gentex Corp.
    9,872       175,228  
Harley-Davidson, Inc.
    16,105       756,291  
Johnson Controls, Inc.
    47,114       1,297,520  
Lear Corp.
    6,876       300,275  
The Goodyear Tire & Rubber Co. *
    16,637       209,626  
TRW Automotive Holdings Corp. *
    6,924       350,631  
                 
              8,076,253  
 
Banks 2.7%
BB&T Corp.
    49,851       1,404,303  
BOK Financial Corp.
    1,745       96,045  
CIT Group, Inc. *
    13,850       513,142  
City National Corp.
    3,440       167,494  
Comerica, Inc.
    13,388       396,151  
Commerce Bancshares, Inc.
    5,441       194,672  
Cullen/Frost Bankers, Inc.
    4,011       219,041  
Fifth Third Bancorp
    63,483       929,391  
First Republic Bank
    4,441       150,195  
Hudson City Bancorp, Inc.
    34,426       277,473  
Huntington Bancshares, Inc.
    59,596       366,515  
KeyCorp
    65,323       527,810  
M&T Bank Corp.
    8,265       807,738  
New York Community Bancorp, Inc.
    30,491       396,688  
People’s United Financial, Inc.
    25,624       312,356  
PNC Financial Services Group, Inc.
    36,672       2,058,766  
Regions Financial Corp.
    97,983       653,547  
SunTrust Banks, Inc.
    37,245       1,011,202  
TFS Financial Corp. *
    6,040       49,649  
U.S. Bancorp
    131,427       4,239,835  
Wells Fargo & Co.
    341,508       11,273,179  
Zions Bancorp
    12,606       253,002  
                 
              26,298,194  
 
Capital Goods 7.6%
3M Co.
    44,163       4,016,625  
AGCO Corp. *
    6,876       317,327  
AMETEK, Inc.
    16,510       616,318  
B/E Aerospace, Inc. *
    6,876       325,647  
Caterpillar, Inc.
    45,273       3,859,071  
Cooper Industries plc
    11,460       853,770  
Cummins, Inc.
    12,233       1,200,791  
Danaher Corp.
    40,629       2,192,747  
Deere & Co.
    27,115       2,279,016  
Donaldson Co., Inc.
    9,452       317,398  
Dover Corp.
    12,688       806,830  
Eaton Corp. plc *
    23,420       1,221,587  
Emerson Electric Co.
    50,335       2,528,327  
Fastenal Co.
    18,704       782,014  
Flowserve Corp.
    3,585       496,702  
Fluor Corp.
    11,502       610,526  
Fortune Brands Home & Security, Inc. *
    12,606       378,054  
Gardner Denver, Inc.
    3,451       241,052  
General Dynamics Corp.
    22,973       1,527,705  
General Electric Co.
    735,732       15,546,017  
Honeywell International, Inc.
    54,155       3,321,326  
Hubbell, Inc., Class B
    4,011       337,927  
Illinois Tool Works, Inc.
    29,923       1,842,359  
Ingersoll-Rand plc
    19,879       969,698  
Jacobs Engineering Group, Inc. *
    9,741       398,797  
Joy Global, Inc.
    7,449       424,519  
KBR, Inc.
    10,314       286,729  
L-3 Communications Holdings, Inc.
    6,876       528,421  
Lincoln Electric Holdings, Inc.
    5,730       272,232  
Lockheed Martin Corp.
    18,676       1,742,471  
Masco Corp.
    25,220       427,731  
MSC Industrial Direct Co., Inc., Class A
    2,960       215,074  
Northrop Grumman Corp.
    17,146       1,143,638  
Owens Corning *
    8,022       277,401  
PACCAR, Inc.
    24,639       1,082,638  
Pall Corp.
    8,022       477,149  
Parker Hannifin Corp.
    10,356       850,745  
Pentair Ltd. - Reg’d
    14,609       708,390  
Precision Castparts Corp.
    10,063       1,845,454  
Quanta Services, Inc. *
    14,372       371,660  
Raytheon Co.
    23,003       1,314,161  
Rockwell Automation, Inc.
    9,741       771,877  
Rockwell Collins, Inc.
    9,783       559,392  
Roper Industries, Inc.
    6,876       766,880  
Snap-On, Inc.
    4,017       319,110  
Spirit AeroSystems Holdings, Inc., Class A *
    8,023       126,362  
SPX Corp.
    3,442       234,469  
Stanley Black & Decker, Inc.
    11,487       826,030  
 
 
 
 1

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Textron, Inc.
    21,201       498,011  
The Babcock & Wilcox Co.
    8,024       202,125  
The Boeing Co.
    47,559       3,532,683  
The Timken Co.
    5,541       249,622  
TransDigm Group, Inc.
    3,107       422,614  
United Technologies Corp.
    58,159       4,659,118  
URS Corp.
    5,730       215,906  
W.W. Grainger, Inc.
    4,111       797,616  
Xylem, Inc.
    12,714       331,708  
                 
              73,469,567  
 
Commercial & Professional Services 0.8%
Avery Dennison Corp.
    7,449       249,169  
Cintas Corp.
    7,260       300,854  
Copart, Inc. *
    7,397       223,463  
Equifax, Inc.
    8,244       422,423  
IHS, Inc., Class A *
    3,459       318,712  
Iron Mountain, Inc.
    11,232       354,931  
Manpower, Inc.
    5,732       220,338  
Nielsen Holdings N.V. *
    8,512       241,060  
Pitney Bowes, Inc. (a)
    13,179       147,473  
Republic Services, Inc.
    21,321       607,009  
Robert Half International, Inc.
    9,741       275,281  
Stericycle, Inc. *
    5,972       558,203  
The ADT Corp. *
    16,044       736,420  
The Dun & Bradstreet Corp.
    3,442       272,538  
Towers Watson & Co., Class A
    4,011       212,102  
Tyco International Ltd.
    32,088       910,337  
Verisk Analytics, Inc., Class A *
    9,741       485,491  
Waste Connections, Inc.
    8,595       282,947  
Waste Management, Inc.
    29,848       972,149  
                 
              7,790,900  
 
Consumer Durables & Apparel 1.3%
Coach, Inc.
    20,076       1,161,196  
D.R. Horton, Inc.
    18,909       367,969  
Fossil, Inc. *
    3,680       318,099  
Garmin Ltd. (a)
    8,022       311,976  
Harman International Industries, Inc.
    4,734       187,277  
Hasbro, Inc.
    8,022       308,526  
Jarden Corp.
    5,179       274,021  
Leggett & Platt, Inc.
    9,741       271,287  
Lennar Corp., Class A
    11,460       435,938  
Mattel, Inc.
    23,775       891,800  
Michael Kors Holdings Ltd. *
    7,913       420,576  
Mohawk Industries, Inc. *
    4,011       344,906  
Newell Rubbermaid, Inc.
    19,589       427,236  
NIKE, Inc., Class B
    25,499       2,485,643  
NVR, Inc. *
    285       256,454  
Polaris Industries, Inc.
    4,584       388,769  
PulteGroup, Inc. *
    23,440       394,026  
PVH Corp.
    4,884       559,658  
Ralph Lauren Corp.
    4,236       665,433  
Toll Brothers, Inc. *
    10,122       322,284  
Tupperware Brands Corp.
    4,170       270,425  
Under Armour, Inc., Class A *
    5,730       296,986  
VF Corp.
    6,072       974,617  
Whirlpool Corp.
    5,730       583,543  
                 
              12,918,645  
 
Consumer Services 2.0%
Apollo Group, Inc., Class A *
    7,015       134,618  
Burger King Worldwide, Inc.
    5,670       97,184  
Carnival Corp.
    31,036       1,199,852  
Chipotle Mexican Grill, Inc. *
    2,161       570,029  
Darden Restaurants, Inc.
    9,047       478,405  
Dunkin’ Brands Group, Inc.
    4,978       158,400  
H&R Block, Inc.
    18,231       328,705  
Hyatt Hotels Corp., Class A *
    3,896       142,204  
International Game Technology
    18,273       253,446  
Las Vegas Sands Corp.
    24,476       1,141,805  
Marriott International, Inc., Class A
    17,500       635,075  
McDonald’s Corp.
    69,914       6,085,315  
MGM Resorts International *
    25,707       260,926  
Panera Bread Co., Class A *
    1,961       314,740  
Penn National Gaming, Inc. *
    4,769       242,361  
Royal Caribbean Cruises Ltd.
    9,741       343,370  
Starbucks Corp.
    52,808       2,739,151  
Starwood Hotels & Resorts Worldwide, Inc.
    13,333       719,449  
Weight Watchers International, Inc. (a)
    1,857       96,490  
Wyndham Worldwide Corp.
    9,783       480,247  
Wynn Resorts Ltd.
    5,730       644,052  
Yum! Brands, Inc.
    31,657       2,123,552  
                 
              19,189,376  
 
Diversified Financials 5.8%
Affiliated Managers Group, Inc. *
    3,497       450,658  
American Express Co.
    68,439       3,825,740  
Ameriprise Financial, Inc.
    14,609       886,328  
Bank of America Corp.
    752,922       7,423,811  
BlackRock, Inc.
    8,891       1,751,883  
Capital One Financial Corp.
    40,223       2,316,845  
CBOE Holdings, Inc.
    6,002       179,940  
Citigroup, Inc.
    205,134       7,091,482  
CME Group, Inc.
    21,154       1,169,182  
Discover Financial Services
    35,710       1,485,893  
E*TRADE Financial Corp. *
    17,405       146,550  
Eaton Vance Corp.
    8,022       255,741  
Franklin Resources, Inc.
    9,553       1,261,187  
IntercontinentalExchange, Inc. *
    5,157       681,497  
Invesco Ltd.
    31,212       779,988  
Jefferies Group, Inc.
    8,390       142,294  
JPMorgan Chase & Co.
    264,726       10,874,944  
Legg Mason, Inc.
    7,975       203,602  
Leucadia National Corp.
    13,179       291,915  
LPL Financial Holdings, Inc.
    2,560       71,706  
Moody’s Corp.
    13,201       641,305  
Morgan Stanley
    96,837       1,633,640  
MSCI, Inc. *
    10,314       299,106  
Northern Trust Corp.
    14,931       716,987  
NYSE Euronext
    17,043       397,954  
Raymond James Financial, Inc.
    7,449       281,200  
SEI Investments Co.
    10,314       227,011  
SLM Corp.
    32,498       537,842  
State Street Corp.
    33,265       1,478,297  
T. Rowe Price Group, Inc.
    17,763       1,148,733  
TD Ameritrade Holding Corp.
    15,471       250,630  
The Bank of New York Mellon Corp.
    81,965       1,962,242  
The Charles Schwab Corp. (b)
    76,000       995,600  
 
 
 
2 

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
The Goldman Sachs Group, Inc.
    31,515       3,712,152  
The NASDAQ OMX Group, Inc.
    8,248       199,849  
                 
              55,773,734  
 
Energy 10.7%
Anadarko Petroleum Corp.
    34,693       2,539,181  
Apache Corp.
    27,173       2,094,767  
Baker Hughes, Inc.
    30,369       1,310,422  
Cabot Oil & Gas Corp.
    14,384       677,486  
Cameron International Corp. *
    17,101       922,599  
Chesapeake Energy Corp.
    35,982       612,773  
Chevron Corp.
    136,947       14,473,928  
Cimarex Energy Co.
    6,303       378,936  
Cobalt International Energy, Inc. *
    11,886       277,182  
Concho Resources, Inc. *
    7,449       597,857  
ConocoPhillips
    84,279       4,798,846  
CONSOL Energy, Inc.
    15,560       487,806  
Continental Resources, Inc. *
    4,011       275,556  
Denbury Resources, Inc. *
    26,931       415,545  
Devon Energy Corp.
    26,069       1,346,985  
Diamond Offshore Drilling, Inc.
    4,584       316,296  
Energen Corp.
    5,157       229,641  
Ensco plc, Class A
    16,068       935,640  
EOG Resources, Inc.
    18,909       2,224,077  
EQT Corp.
    10,314       619,459  
Exxon Mobil Corp.
    321,453       28,332,867  
FMC Technologies, Inc. *
    16,617       678,971  
Halliburton Co.
    64,360       2,146,406  
Helmerich & Payne, Inc.
    7,276       379,807  
Hess Corp.
    20,539       1,018,940  
HollyFrontier Corp.
    14,125       640,286  
Kinder Morgan, Inc.
    44,121       1,491,731  
Marathon Oil Corp.
    49,164       1,516,709  
Marathon Petroleum Corp.
    23,520       1,400,381  
McDermott International, Inc. *
    16,048       168,985  
Murphy Oil Corp.
    12,790       725,705  
Nabors Industries Ltd. *
    20,059       294,867  
National-Oilwell Varco, Inc.
    29,744       2,031,515  
Newfield Exploration Co. *
    9,172       223,247  
Noble Corp.
    17,474       602,678  
Noble Energy, Inc.
    12,275       1,199,881  
Occidental Petroleum Corp.
    56,196       4,226,501  
Oceaneering International, Inc.
    7,450       392,466  
Oil States International, Inc. *
    3,738       264,351  
Patterson-UTI Energy, Inc.
    10,887       193,353  
Peabody Energy Corp.
    18,693       469,381  
Phillips 66
    43,475       2,276,786  
Pioneer Natural Resources Co.
    8,595       919,665  
Plains Exploration & Production Co. *
    8,926       318,658  
QEP Resources, Inc.
    12,134       341,208  
Range Resources Corp.
    11,460       733,669  
Rowan Cos. plc, Class A *
    8,647       274,369  
SandRidge Energy, Inc. *(a)
    26,931       157,546  
Schlumberger Ltd.
    92,826       6,648,198  
SM Energy Co.
    4,584       227,779  
Southwestern Energy Co. *
    24,074       835,609  
Spectra Energy Corp.
    46,986       1,313,259  
Superior Energy Services, Inc. *
    10,887       221,115  
Tesoro Corp.
    9,696       409,947  
The Williams Cos., Inc.
    43,624       1,432,612  
Tidewater, Inc.
    3,507       157,324  
Transocean Ltd.
    24,933       1,151,905  
Ultra Petroleum Corp. *
    10,415       208,821  
Valero Energy Corp.
    38,048       1,227,429  
Weatherford International Ltd. *
    52,143       542,809  
Whiting Petroleum Corp. *
    8,022       336,443  
WPX Energy, Inc. *
    13,458       212,502  
                 
              103,881,663  
 
Food & Staples Retailing 2.2%
Costco Wholesale Corp.
    30,369       3,158,072  
CVS Caremark Corp.
    88,208       4,102,554  
Safeway, Inc. (a)
    16,646       284,813  
Sysco Corp.
    40,810       1,291,637  
The Kroger Co.
    37,834       992,764  
Wal-Mart Stores, Inc.
    117,465       8,459,829  
Walgreen Co.
    59,463       2,016,391  
Whole Foods Market, Inc.
    11,861       1,107,343  
                 
              21,413,403  
 
Food, Beverage & Tobacco 5.9%
Altria Group, Inc.
    141,033       4,768,326  
Archer-Daniels-Midland Co.
    45,649       1,218,828  
Beam, Inc.
    10,836       608,008  
Brown-Forman Corp., Class B
    10,446       733,100  
Bunge Ltd.
    10,129       741,038  
Campbell Soup Co.
    12,460       457,905  
Coca-Cola Enterprises, Inc.
    19,139       596,754  
ConAgra Foods, Inc.
    28,735       858,027  
Constellation Brands, Inc., Class A *
    10,209       366,299  
Dr. Pepper Snapple Group, Inc.
    14,489       649,832  
General Mills, Inc.
    44,963       1,843,033  
Green Mountain Coffee Roasters, Inc. *(a)
    8,595       315,179  
H.J. Heinz Co.
    22,347       1,306,406  
Hillshire Brands Co.
    8,022       223,413  
Hormel Foods Corp.
    8,900       275,989  
Ingredion, Inc.
    5,238       340,208  
Kellogg Co.
    17,190       953,357  
Kraft Foods Group, Inc. *
    40,985       1,853,342  
Lorillard, Inc.
    8,953       1,084,745  
McCormick & Co., Inc. Non Voting Shares
    9,168       591,886  
Mead Johnson Nutrition Co.
    14,325       976,822  
Molson Coors Brewing Co., Class B
    10,887       451,375  
Mondelez International, Inc., Class A
    124,914       3,234,023  
Monster Beverage Corp. *
    10,887       566,668  
PepsiCo, Inc.
    108,870       7,643,763  
Philip Morris International, Inc.
    117,465       10,557,754  
Ralcorp Holdings, Inc. *
    4,011       357,541  
Reynolds American, Inc.
    22,725       993,537  
Smithfield Foods, Inc. *
    8,867       198,355  
The Coca-Cola Co.
    269,883       10,233,963  
The Hershey Co.
    10,479       767,796  
The J.M. Smucker Co.
    7,582       670,704  
Tyson Foods, Inc., Class A
    19,755       378,703  
                 
              56,816,679  
 
Health Care Equipment & Services 3.8%
Aetna, Inc.
    23,188       1,001,490  
 
 
 
 3

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
AMERIGROUP Corp. *
    3,355       308,056  
AmerisourceBergen Corp.
    17,763       749,954  
Baxter International, Inc.
    37,980       2,516,935  
Becton, Dickinson & Co.
    13,833       1,060,576  
Boston Scientific Corp. *
    97,357       539,358  
C.R. Bard, Inc.
    5,409       535,545  
Cardinal Health, Inc.
    24,066       973,470  
CareFusion Corp. *
    15,471       431,950  
Cerner Corp. *
    10,097       779,690  
CIGNA Corp.
    20,055       1,048,275  
Coventry Health Care, Inc.
    9,741       425,487  
Covidien plc
    33,276       1,933,668  
DaVita HealthCare Partners, Inc. *
    5,866       633,528  
DENTSPLY International, Inc.
    9,791       388,703  
Edwards Lifesciences Corp. *
    8,022       696,069  
Express Scripts Holding Co. *
    56,727       3,054,749  
HCA Holdings, Inc.
    11,498       365,061  
Henry Schein, Inc. *
    6,303       509,093  
Hologic, Inc. *
    18,336       349,851  
Humana, Inc.
    11,476       750,645  
IDEXX Laboratories, Inc. *
    4,011       374,908  
Intuitive Surgical, Inc. *
    2,715       1,436,235  
Laboratory Corp. of America Holdings *
    6,578       556,433  
McKesson Corp.
    16,315       1,541,278  
Medtronic, Inc.
    70,725       2,978,230  
Omnicare, Inc.
    8,069       292,421  
Patterson Cos., Inc.
    6,303       214,932  
Quest Diagnostics, Inc.
    10,894       629,455  
ResMed, Inc.
    9,706       398,820  
St. Jude Medical, Inc.
    21,647       742,059  
Stryker Corp.
    20,097       1,088,454  
The Cooper Cos., Inc.
    3,255       309,030  
UnitedHealth Group, Inc.
    72,771       3,958,015  
Universal Health Services, Inc., Class B
    6,307       284,256  
Varian Medical Systems, Inc. *
    7,491       518,078  
WellPoint, Inc.
    22,429       1,253,781  
Zimmer Holdings, Inc.
    12,054       795,202  
                 
              36,423,740  
 
Household & Personal Products 2.3%
Avon Products, Inc.
    29,350       409,432  
Church & Dwight Co., Inc.
    9,880       535,002  
Colgate-Palmolive Co.
    30,942       3,357,207  
Energizer Holdings, Inc.
    4,584       365,620  
Herbalife Ltd.
    7,503       344,913  
Kimberly-Clark Corp.
    27,504       2,357,643  
The Clorox Co.
    9,169       700,053  
The Estee Lauder Cos., Inc., Class A
    16,631       968,756  
The Procter & Gamble Co.
    191,955       13,404,218  
                 
              22,442,844  
 
Insurance 4.1%
ACE Ltd.
    23,495       1,861,509  
Aflac, Inc.
    32,679       1,731,660  
Alleghany Corp. *
    1,146       402,246  
Allied World Assurance Co. Holdings AG
    2,434       197,568  
American Financial Group, Inc.
    5,762       228,463  
American International Group, Inc. *
    82,512       2,733,623  
Aon plc
    22,389       1,271,695  
Arch Capital Group Ltd. *
    10,314       465,161  
Arthur J. Gallagher & Co.
    8,334       304,358  
Assurant, Inc.
    5,572       190,618  
Assured Guaranty Ltd.
    13,429       187,335  
Axis Capital Holdings Ltd.
    8,206       295,170  
Berkshire Hathaway, Inc., Class B *
    127,779       11,254,774  
Brown & Brown, Inc.
    8,069       216,572  
Cincinnati Financial Corp.
    10,361       419,828  
CNA Financial Corp.
    1,764       49,798  
Erie Indemnity Co., Class A
    1,796       128,019  
Everest Re Group Ltd.
    3,601       390,600  
Fidelity National Financial, Inc., Class A
    14,898       360,681  
Genworth Financial, Inc., Class A *
    33,819       201,223  
Hartford Financial Services Group, Inc.
    30,555       647,155  
HCC Insurance Holdings, Inc.
    7,449       274,719  
Lincoln National Corp.
    19,335       477,574  
Loews Corp.
    21,686       886,524  
Markel Corp. *
    598       286,442  
Marsh & McLennan Cos., Inc.
    37,510       1,321,102  
MetLife, Inc.
    73,668       2,445,041  
PartnerRe Ltd.
    4,584       379,922  
Principal Financial Group, Inc.
    19,233       522,176  
Prudential Financial, Inc.
    32,314       1,684,206  
Reinsurance Group of America, Inc.
    5,157       264,038  
RenaissanceRe Holdings Ltd.
    3,523       291,563  
The Allstate Corp.
    33,592       1,359,804  
The Chubb Corp.
    18,411       1,417,463  
The Progressive Corp.
    39,537       840,161  
The Travelers Cos., Inc.
    26,690       1,890,186  
Torchmark Corp.
    6,587       342,458  
Unum Group
    20,055       408,921  
Validus Holdings Ltd.
    6,249       221,590  
W.R. Berkley Corp.
    7,733       307,387  
White Mountains Insurance Group Ltd.
    351       180,856  
XL Group plc
    20,888       508,205  
                 
              39,848,394  
 
Materials 3.7%
Air Products & Chemicals, Inc.
    14,687       1,218,140  
Airgas, Inc.
    4,678       414,330  
Albemarle Corp.
    6,420       383,852  
Alcoa, Inc.
    73,917       621,642  
Allegheny Technologies, Inc.
    7,449       195,015  
Allied Nevada Gold Corp. *
    5,730       186,512  
AptarGroup, Inc.
    4,608       219,663  
Ashland, Inc.
    5,081       360,345  
Ball Corp.
    10,708       478,541  
Bemis Co., Inc.
    7,449       250,286  
Celanese Corp., Series A
    10,897       447,213  
CF Industries Holdings, Inc.
    4,361       933,385  
Cliffs Natural Resources, Inc.
    9,887       284,251  
Crown Holdings, Inc. *
    10,314       385,228  
E.I. du Pont de Nemours & Co.
    64,502       2,782,616  
Eastman Chemical Co.
    10,887       662,474  
Ecolab, Inc.
    18,368       1,323,965  
FMC Corp.
    9,758       541,179  
 
 
 
4 

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Freeport-McMoRan Copper & Gold, Inc.
    65,822       2,567,716  
Huntsman Corp.
    13,249       217,814  
International Flavors & Fragrances, Inc.
    5,730       372,622  
International Paper Co.
    30,306       1,125,565  
LyondellBasell Industries N.V., Class A
    23,531       1,170,197  
Martin Marietta Materials, Inc.
    3,165       284,850  
MeadWestvaco Corp.
    11,604       358,680  
Monsanto Co.
    36,914       3,380,953  
Newmont Mining Corp.
    34,438       1,621,685  
Nucor Corp.
    22,048       907,937  
Owens-Illinois, Inc. *
    11,460       229,544  
PPG Industries, Inc.
    10,557       1,311,918  
Praxair, Inc.
    20,664       2,215,387  
Reliance Steel & Aluminum Co.
    5,157       290,855  
Rock-Tenn Co., Class A
    5,157       335,411  
Rockwood Holdings, Inc.
    5,415       248,386  
Royal Gold, Inc.
    4,453       359,624  
Sealed Air Corp.
    14,898       250,584  
Sigma-Aldrich Corp.
    8,336       604,527  
Sonoco Products Co.
    6,876       206,761  
Steel Dynamics, Inc.
    14,898       192,482  
The Dow Chemical Co.
    84,804       2,560,233  
The Mosaic Co.
    19,167       1,036,168  
The Scotts Miracle-Gro Co., Class A
    2,981       123,592  
The Sherwin-Williams Co.
    5,872       895,597  
The Valspar Corp.
    5,772       362,366  
Tronox Ltd., Class A
    1,793       27,756  
United States Steel Corp. (a)
    9,852       212,409  
Valhi, Inc.
    1,719       20,697  
Vulcan Materials Co.
    8,957       473,288  
W.R. Grace & Co. *
    4,848       317,399  
Westlake Chemical Corp.
    1,362       98,622  
                 
              36,070,262  
 
Media 3.6%
AMC Networks, Inc., Class A *
    4,112       216,949  
Cablevision Systems Corp., Class A
    14,802       204,860  
CBS Corp., Class B Non Voting Shares
    41,340       1,487,413  
Charter Communications, Inc., Class A *
    3,166       224,311  
Comcast Corp., Class A
    185,617       6,901,240  
DIRECTV *
    43,558       2,164,833  
Discovery Communications, Inc., Series A *
    17,143       1,035,609  
DISH Network Corp., Class A
    15,787       584,750  
Gannett Co., Inc.
    16,617       297,444  
John Wiley & Sons, Inc., Class A
    3,438       146,803  
Liberty Global, Inc., Series A *
    17,374       973,639  
Liberty Media Corp. - Liberty Capital, Series A *
    7,691       845,933  
News Corp., Class A
    141,221       3,479,685  
Omnicom Group, Inc.
    18,378       914,122  
Scripps Networks Interactive, Inc., Class A
    5,883       347,332  
Sirius XM Radio, Inc. *
    228,314       634,713  
The Interpublic Group of Cos., Inc.
    31,902       345,180  
The McGraw-Hill Cos., Inc.
    19,442       1,032,565  
The Walt Disney Co.
    125,487       6,231,684  
The Washington Post Co., Class B
    262       96,170  
Time Warner Cable, Inc.
    21,281       2,019,354  
Time Warner, Inc.
    65,765       3,110,684  
Viacom, Inc., Class B
    32,829       1,694,305  
                 
              34,989,578  
 
Pharmaceuticals, Biotechnology & Life Sciences 8.1%
Abbott Laboratories
    110,016       7,151,040  
Agilent Technologies, Inc.
    24,066       921,487  
Alexion Pharmaceuticals, Inc. *
    13,421       1,288,684  
Allergan, Inc.
    21,774       2,019,539  
Amgen, Inc.
    53,453       4,746,626  
Biogen Idec, Inc. *
    16,358       2,438,814  
BioMarin Pharmaceutical, Inc. *
    8,534       414,752  
Bristol-Myers Squibb Co.
    116,451       3,799,796  
Celgene Corp. *
    29,938       2,352,827  
Covance, Inc. *
    4,011       228,667  
Eli Lilly & Co.
    70,795       3,471,787  
Endo Health Solutions, Inc. *
    7,837       224,608  
Forest Laboratories, Inc. *
    16,236       575,729  
Gilead Sciences, Inc. *
    52,377       3,928,275  
Hospira, Inc. *
    11,460       341,508  
Illumina, Inc. *
    8,611       462,497  
Johnson & Johnson
    191,955       13,385,022  
Life Technologies Corp. *
    11,944       589,436  
Merck & Co., Inc.
    212,583       9,417,427  
Mettler-Toledo International, Inc. *
    2,061       385,593  
Mylan, Inc. *
    28,175       765,797  
Onyx Pharmaceuticals, Inc. *
    4,517       340,898  
PerkinElmer, Inc.
    8,026       254,023  
Perrigo Co.
    6,030       624,105  
Pfizer, Inc.
    520,857       13,031,842  
Pharmacyclics, Inc. *
    3,486       184,932  
Regeneron Pharmaceuticals, Inc. *
    5,157       910,468  
Techne Corp.
    2,399       170,089  
Thermo Fisher Scientific, Inc.
    25,299       1,607,752  
United Therapeutics Corp. *
    3,438       180,667  
Vertex Pharmaceuticals, Inc. *
    14,940       594,463  
Warner Chilcott plc, Class A
    12,606       146,986  
Waters Corp. *
    6,364       538,076  
Watson Pharmaceuticals, Inc. *
    9,168       806,876  
                 
              78,301,088  
 
Real Estate 2.9%
Alexandria Real Estate Equities, Inc.
    4,585       311,413  
American Campus Communities, Inc.
    8,022       351,364  
American Capital Agency Corp.
    23,651       746,189  
American Tower Corp.
    27,504       2,060,875  
Annaly Capital Management, Inc.
    67,178       988,860  
AvalonBay Communities, Inc.
    6,645       875,744  
Boston Properties, Inc.
    10,314       1,058,526  
BRE Properties, Inc.
    5,178       251,910  
Camden Property Trust
    5,730       376,461  
CBRE Group, Inc., Class A *
    22,920       433,876  
Chimera Investment Corp.
    71,052       194,682  
DDR Corp.
    16,617       254,406  
Digital Realty Trust, Inc.
    8,542       551,301  
Equity Residential
    21,201       1,176,867  
Essex Property Trust, Inc.
    2,536       356,283  
Federal Realty Investment Trust
    4,584       476,919  
 
 
 
 5

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
General Growth Properties, Inc.
    31,180       603,957  
HCP, Inc.
    31,376       1,413,489  
Health Care REIT, Inc.
    17,763       1,046,063  
Host Hotels & Resorts, Inc.
    50,119       736,248  
Jones Lang LaSalle, Inc.
    3,438       281,950  
Kimco Realty Corp.
    28,120       541,591  
Liberty Property Trust
    8,022       279,406  
Piedmont Office Realty Trust, Inc., Class A
    11,638       205,411  
Plum Creek Timber Co., Inc.
    11,460       491,061  
ProLogis, Inc.
    32,088       1,089,067  
Public Storage
    9,971       1,402,321  
Rayonier, Inc.
    8,595       428,375  
Realogy Holdings Corp. *
    2,865       108,039  
Realty Income Corp.
    9,226       375,314  
Regency Centers Corp.
    6,303       295,295  
Senior Housing Properties Trust
    12,251       273,810  
Simon Property Group, Inc.
    21,028       3,198,990  
SL Green Realty Corp.
    6,226       469,316  
Taubman Centers, Inc.
    4,217       326,691  
The Macerich Co.
    9,053       511,494  
UDR, Inc.
    17,364       399,546  
Ventas, Inc.
    20,455       1,301,961  
Vornado Realty Trust
    11,744       897,594  
Weyerhaeuser Co.
    37,245       1,026,472  
                 
              28,169,137  
 
Retailing 4.4%
Abercrombie & Fitch Co., Class A
    5,730       262,950  
Advance Auto Parts, Inc.
    5,174       378,478  
Amazon.com, Inc. *
    25,212       6,354,685  
American Eagle Outfitters, Inc.
    12,234       259,361  
AutoNation, Inc. *
    2,402       93,534  
AutoZone, Inc. *
    2,562       983,219  
Bed Bath & Beyond, Inc. *
    16,072       943,748  
Best Buy Co., Inc.
    18,409       241,342  
CarMax, Inc. *
    15,492       561,740  
Dick’s Sporting Goods, Inc.
    6,727       353,235  
Dillard’s, Inc., Class A
    2,093       186,089  
Dollar General Corp. *
    18,468       923,400  
Dollar Tree, Inc. *
    16,072       670,845  
Expedia, Inc.
    6,361       393,491  
Family Dollar Stores, Inc.
    6,687       476,114  
Foot Locker, Inc.
    10,887       390,190  
Genuine Parts Co.
    10,934       711,694  
GNC Holdings, Inc., Class A
    5,479       192,477  
Groupon, Inc. *(a)
    16,776       70,291  
J.C. Penney Co., Inc. (a)
    10,345       185,589  
Kohl’s Corp.
    15,010       670,197  
Liberty Interactive Corp., Series A *
    35,888       692,638  
Limited Brands, Inc.
    16,528       861,935  
LKQ Corp. *
    20,628       452,166  
Lowe’s Cos., Inc.
    79,156       2,856,740  
Macy’s, Inc.
    27,930       1,080,891  
Netflix, Inc. *(a)
    4,011       327,739  
Nordstrom, Inc.
    10,887       588,878  
O’Reilly Automotive, Inc. *
    8,610       810,029  
PetSmart, Inc.
    7,462       527,265  
Priceline.com, Inc. *
    3,438       2,279,944  
Ross Stores, Inc.
    15,525       883,683  
Sally Beauty Holdings, Inc. *
    10,840       274,794  
Sears Holdings Corp. *(a)
    2,476       104,017  
Signet Jewelers Ltd.
    5,541       297,829  
Staples, Inc.
    46,823       547,829  
Target Corp.
    45,388       2,865,344  
The Gap, Inc.
    20,680       712,633  
The Home Depot, Inc.
    105,432       6,860,460  
The TJX Cos., Inc.
    51,029       2,262,626  
Tiffany & Co.
    8,281       488,413  
Tractor Supply Co.
    4,826       432,506  
TripAdvisor, Inc. *
    7,623       291,122  
Ulta Salon, Cosmetics & Fragrance, Inc.
    4,011       402,223  
Urban Outfitters, Inc. *
    7,536       284,107  
Williams-Sonoma, Inc.
    6,010       272,013  
                 
              42,760,493  
 
Semiconductors & Semiconductor Equipment 1.9%
Advanced Micro Devices, Inc. *(a)
    40,683       89,503  
Altera Corp.
    22,449       727,123  
Analog Devices, Inc.
    20,647       838,268  
Applied Materials, Inc.
    85,797       920,602  
Atmel Corp. *
    30,970       173,122  
Broadcom Corp., Class A *
    35,700       1,155,966  
Cree, Inc. *
    8,038       259,708  
Intel Corp.
    347,033       6,791,436  
KLA-Tencor Corp.
    11,497       522,769  
Lam Research Corp. *
    12,690       445,673  
Linear Technology Corp.
    15,953       529,480  
LSI Corp. *
    39,577       266,749  
Marvell Technology Group Ltd.
    33,807       286,683  
Maxim Integrated Products, Inc.
    20,379       594,863  
Microchip Technology, Inc.
    13,212       401,909  
Micron Technology, Inc. *
    68,760       411,185  
NVIDIA Corp.
    42,402       507,976  
ON Semiconductor Corp. *
    30,369       201,346  
Skyworks Solutions, Inc. *
    13,752       311,483  
Texas Instruments, Inc.
    78,869       2,324,269  
Xilinx, Inc.
    18,380       636,867  
                 
              18,396,980  
 
Software & Services 9.5%
Accenture plc, Class A
    44,011       2,989,227  
Activision Blizzard, Inc.
    29,003       331,794  
Adobe Systems, Inc. *
    34,174       1,182,762  
Akamai Technologies, Inc. *
    12,606       461,632  
Alliance Data Systems Corp. *
    3,438       489,881  
ANSYS, Inc. *
    6,313       418,741  
Autodesk, Inc. *
    15,471       512,554  
Automatic Data Processing, Inc.
    33,618       1,908,158  
BMC Software, Inc. *
    10,332       423,199  
Broadridge Financial Solutions, Inc.
    8,642       204,038  
CA, Inc.
    23,692       525,015  
Citrix Systems, Inc. *
    13,179       806,028  
Cognizant Technology Solutions Corp., Class A *
    20,670       1,389,644  
Computer Sciences Corp.
    10,404       395,976  
Concur Technologies, Inc. *
    3,155       207,315  
eBay, Inc. *
    80,452       4,249,475  
Electronic Arts, Inc. *
    23,140       342,703  
Equinix, Inc. *
    3,438       638,643  
 
 
 
6 

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Facebook, Inc., Class A *
    34,133       955,724  
FactSet Research Systems, Inc.
    2,935       271,165  
Fidelity National Information Services, Inc.
    17,853       644,493  
Fiserv, Inc. *
    9,319       717,470  
Fortinet, Inc. *
    9,065       181,119  
Gartner, Inc. *
    6,441       308,395  
Genpact Ltd.
    9,242       148,334  
Global Payments, Inc.
    6,303       276,765  
Google, Inc., Class A *
    18,460       12,891,910  
IAC/InterActiveCorp
    5,557       262,012  
Informatica Corp. *
    7,449       200,155  
International Business Machines Corp.
    74,533       14,166,487  
Intuit, Inc.
    18,994       1,137,930  
LinkedIn Corp., Class A *
    4,592       496,579  
MasterCard, Inc., Class A
    7,469       3,649,951  
MICROS Systems, Inc. *
    5,579       242,463  
Microsoft Corp.
    526,014       14,002,493  
NetSuite, Inc. *
    1,893       112,861  
Nuance Communications, Inc. *
    17,033       378,814  
Oracle Corp.
    266,445       8,552,884  
Paychex, Inc.
    22,347       727,171  
Rackspace Hosting, Inc. *
    7,491       517,778  
Red Hat, Inc. *
    13,221       653,117  
SAIC, Inc.
    19,628       226,311  
Salesforce.com, Inc. *
    8,895       1,402,475  
ServiceNow, Inc. *(a)
    1,094       35,697  
SolarWinds, Inc. *
    4,217       236,278  
Solera Holdings, Inc.
    4,631       239,701  
Symantec Corp. *
    48,731       914,193  
Synopsys, Inc. *
    10,372       340,202  
Teradata Corp. *
    11,602       690,087  
TIBCO Software, Inc. *
    10,498       262,975  
Total System Services, Inc.
    11,201       245,862  
Vantiv, Inc., Class A *
    3,438       74,501  
VeriFone Systems, Inc. *
    7,449       226,375  
VeriSign, Inc. *
    11,006       375,635  
Visa, Inc., Class A
    36,672       5,490,165  
VMware, Inc., Class A *
    5,948       540,971  
Western Union Co.
    41,507       523,403  
Yahoo!, Inc. *
    72,354       1,358,085  
                 
              92,155,771  
 
Technology Hardware & Equipment 7.3%
Amphenol Corp., Class A
    10,957       678,457  
Apple, Inc.
    65,322       38,231,660  
Arrow Electronics, Inc. *
    7,449       277,550  
Avnet, Inc. *
    9,741       285,314  
Cisco Systems, Inc.
    367,008       6,940,121  
Corning, Inc.
    103,335       1,263,787  
Dell, Inc.
    101,120       974,797  
Dolby Laboratories, Inc., Class A *
    3,512       117,195  
EMC Corp. *
    146,688       3,640,796  
F5 Networks, Inc. *
    5,399       505,778  
FLIR Systems, Inc.
    10,891       222,176  
Harris Corp.
    8,029       378,407  
Hewlett-Packard Co.
    136,410       1,771,966  
Jabil Circuit, Inc.
    13,179       250,401  
JDS Uniphase Corp. *
    15,819       191,884  
Juniper Networks, Inc. *
    36,526       656,738  
Molex, Inc.
    9,996       263,694  
Motorola Solutions, Inc.
    19,866       1,081,704  
NCR Corp. *
    10,934       261,651  
NetApp, Inc. *
    25,212       799,473  
Palo Alto Networks, Inc. *(a)
    573       31,183  
QUALCOMM, Inc.
    119,184       7,582,486  
Riverbed Technology, Inc. *
    10,556       188,952  
SanDisk Corp. *
    16,617       649,725  
Seagate Technology plc
    24,466       614,097  
TE Connectivity Ltd.
    30,942       1,088,849  
Trimble Navigation Ltd. *
    8,599       478,448  
Western Digital Corp.
    15,322       512,368  
Xerox Corp.
    90,664       617,422  
                 
              70,557,079  
 
Telecommunication Services 2.9%
AT&T, Inc.
    401,673       13,709,099  
CenturyLink, Inc.
    43,136       1,675,402  
Crown Castle International Corp. *
    20,361       1,374,775  
Frontier Communications Corp. (a)
    71,090       341,943  
Level 3 Communications, Inc. *
    10,887       205,329  
MetroPCS Communications, Inc. *
    21,612       230,168  
SBA Communications Corp., Class A *
    8,595       591,508  
Sprint Nextel Corp. *
    207,469       1,188,797  
Telephone & Data Systems, Inc.
    6,906       158,907  
United States Cellular Corp. *
    1,214       42,308  
Verizon Communications, Inc.
    197,632       8,719,524  
Windstream Corp. (a)
    40,110       336,122  
                 
              28,573,882  
 
Transportation 1.7%
C.H. Robinson Worldwide, Inc.
    11,460       707,540  
CSX Corp.
    72,807       1,438,666  
Delta Air Lines, Inc. *
    58,013       580,130  
Expeditors International of Washington, Inc.
    14,902       557,633  
FedEx Corp.
    20,297       1,817,190  
Hertz Global Holdings, Inc. *
    20,725       324,139  
J.B. Hunt Transport Services, Inc.
    6,243       371,146  
Kansas City Southern
    7,510       586,907  
Norfolk Southern Corp.
    22,158       1,337,900  
Southwest Airlines Co.
    51,515       490,938  
Union Pacific Corp.
    32,861       4,034,674  
United Continental Holdings, Inc. *
    22,923       463,503  
United Parcel Service, Inc., Class B
    49,804       3,641,171  
                 
              16,351,537  
 
Utilities 3.6%
AGL Resources, Inc.
    8,052       313,867  
Alliant Energy Corp.
    7,615       341,304  
Ameren Corp.
    16,621       498,131  
American Electric Power Co., Inc.
    33,807       1,441,869  
American Water Works Co., Inc.
    12,052       460,025  
Aqua America, Inc.
    9,741       248,785  
Atmos Energy Corp.
    6,303       220,668  
Calpine Corp. *
    26,653       460,031  
CenterPoint Energy, Inc.
    29,586       583,732  
CMS Energy Corp.
    18,189       444,357  
 
 
 
 7

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Consolidated Edison, Inc.
    20,628       1,150,836  
Dominion Resources, Inc.
    40,110       2,050,022  
DTE Energy Co.
    11,907       721,326  
Duke Energy Corp.
    48,871       3,118,947  
Edison International
    22,567       1,026,347  
Entergy Corp.
    12,175       773,600  
Exelon Corp.
    59,592       1,800,870  
FirstEnergy Corp.
    29,034       1,232,784  
Integrys Energy Group, Inc.
    5,266       279,993  
ITC Holdings Corp.
    3,438       270,055  
MDU Resources Group, Inc.
    13,111       271,660  
National Fuel Gas Co.
    5,772       300,606  
NextEra Energy, Inc.
    29,796       2,047,283  
NiSource, Inc.
    19,482       470,880  
Northeast Utilities
    21,850       846,469  
NRG Energy, Inc.
    15,310       323,041  
NV Energy, Inc.
    16,087       294,875  
OGE Energy Corp.
    6,888       393,512  
ONEOK, Inc.
    14,898       668,473  
Pepco Holdings, Inc.
    15,518       306,325  
PG&E Corp.
    29,796       1,220,146  
Pinnacle West Capital Corp.
    7,464       384,098  
PPL Corp.
    41,829       1,227,681  
Public Service Enterprise Group, Inc.
    35,209       1,059,439  
Questar Corp.
    12,134       238,069  
SCANA Corp.
    9,053       419,516  
Sempra Energy
    16,044       1,097,731  
TECO Energy, Inc.
    13,799       231,961  
The AES Corp.
    44,694       476,885  
The Southern Co.
    60,844       2,649,756  
UGI Corp.
    8,022       266,491  
Westar Energy, Inc.
    8,679       249,087  
Wisconsin Energy Corp.
    16,044       602,131  
Xcel Energy, Inc.
    33,807       914,479  
                 
              34,398,143  
                 
Total Common Stock
(Cost $860,699,479)     965,067,342  
         
                 
                 
 
 Other Investment Company 0.1% of net assets
 
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund
    484,982       484,982  
                 
Total Other Investment Company
(Cost $484,982)     484,982  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 0.1% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    1,363,187       1,363,187  
                 
Total Collateral Invested for Securities on Loan
(Cost $1,363,187)     1,363,187  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $861,839,624 and the unrealized appreciation and depreciation were $139,042,825 and ($35,330,125), respectively, with a et unrealized appreciation of $103,712,700.
 
* Non-income producing security.
(a) All or a portion of this security is on loan.
(b) Issuer is affiliated with the fund’s adviser.
 
     
Reg’d —
  Registered
REIT —
  Real Estate Investment Trust
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a
 
 
 
8 

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
  price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
 
 
 9

 

 
 Schwab U.S. Large-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $965,067,342       $—       $—       $965,067,342  
Other Investment Company1
    484,982       —       —       484,982  
                                 
Total
    $965,552,324       $—       $—       $965,552,324  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $1,363,187       $—       $—       $1,363,187  
 
     
1
  As categorized in Portfolio Holdings.
 
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
 
                                                                 
    Balance
 		      Change in
 		                  Balance
    as of
 		  Realized
 		  Unrealized
 		          Gross
 		  Gross
 		  as of
    August 31,
 		  Gains
 		  Gains
 		  Gross
 		  Gross
 		  Transfers
 		  Transfers
 		  November 30,
Investments in Securities
 
2012
 
(Losses)
 
(Losses)
 
Purchases
 
Sales
 
in
 
out
 
2012
 
Rights
    $—       $1,451       $4,000       $17,332       ($22,783 )     $—       $—       $—  
                                                                 
Total
    $—       $1,451       $4,000       $17,332       ($22,783 )     $—       $—       $—  
                                                                 
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG54092NOV12
 
 
 
10 

 

Schwab Strategic Trust
Schwab U.S. Large-Cap Growth ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  99 .7%   Common Stock     463,718,653       515,344,868  
  0 .1%   Other Investment Company     399,363       399,363  
 
 
  99 .8%   Total Investments     464,118,016       515,744,231  
  0 .2%   Collateral Invested for Securities on Loan     845,451       845,451  
  —%   Other Assets and
Liabilities, Net 		            (35,068 )
 
 
  100 .0%   Net Assets             516,554,614  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 99.7% of net assets
 
Automobiles & Components 0.4%
Allison Transmission Holdings, Inc. (a)
    2,325       48,337  
BorgWarner, Inc. *
    8,634       572,434  
Johnson Controls, Inc.
    51,956       1,430,868  
                 
              2,051,639  
 
Banks 0.3%
CIT Group, Inc. *
    15,100       559,455  
SunTrust Banks, Inc.
    40,899       1,110,408  
                 
              1,669,863  
 
Capital Goods 7.0%
AGCO Corp. *
    7,288       336,341  
AMETEK, Inc.
    19,026       710,241  
B/E Aerospace, Inc. *
    7,874       372,913  
Caterpillar, Inc.
    49,827       4,247,253  
Cooper Industries plc
    120       8,940  
Cummins, Inc.
    13,488       1,323,982  
Danaher Corp.
    44,405       2,396,538  
Deere & Co.
    29,757       2,501,076  
Donaldson Co., Inc.
    10,304       346,008  
Dover Corp.
    13,897       883,710  
Emerson Electric Co.
    55,209       2,773,148  
Fastenal Co.
    20,495       856,896  
Flowserve Corp.
    3,902       540,622  
Fluor Corp.
    12,717       675,018  
Fortune Brands Home & Security, Inc. *
    12,191       365,608  
Gardner Denver, Inc.
    3,713       259,353  
Illinois Tool Works, Inc.
    32,761       2,017,095  
Jacobs Engineering Group, Inc. *
    9,697       396,995  
Joy Global, Inc.
    8,154       464,696  
KBR, Inc.
    11,356       315,697  
Lincoln Electric Holdings, Inc.
    6,416       304,824  
MSC Industrial Direct Co., Inc., Class A
    3,566       259,106  
PACCAR, Inc.
    26,843       1,179,481  
Pall Corp.
    8,788       522,710  
Pentair Ltd. - Reg’d
    16,308       790,775  
Precision Castparts Corp.
    11,061       2,028,477  
Quanta Services, Inc. *
    16,142       417,432  
Rockwell Collins, Inc.
    10,787       616,801  
Roper Industries, Inc.
    7,437       829,449  
Spirit AeroSystems Holdings, Inc., Class A *
    8,349       131,497  
SPX Corp.
    3,940       268,393  
Stanley Black & Decker, Inc.
    12,762       917,715  
Textron, Inc.
    21,209       498,199  
The Babcock & Wilcox Co.
    8,872       223,486  
The Boeing Co.
    51,938       3,857,955  
TransDigm Group, Inc.
    3,411       463,964  
W.W. Grainger, Inc.
    4,530       878,911  
Xylem, Inc.
    13,989       364,973  
                 
              36,346,278  
 
Commercial & Professional Services 0.7%
Copart, Inc. *
    8,249       249,202  
Equifax, Inc.
    9,107       466,643  
IHS, Inc., Class A *
    3,791       349,303  
Nielsen Holdings N.V. *
    9,346       264,679  
Robert Half International, Inc.
    11,018       311,369  
Stericycle, Inc. *
    6,431       601,106  
The Dun & Bradstreet Corp.
    3,423       271,033  
Towers Watson & Co., Class A
    4,230       223,682  
Verisk Analytics, Inc., Class A *
    10,872       541,860  
Waste Connections, Inc.
    9,384       308,921  
                 
              3,587,798  
 
Consumer Durables & Apparel 1.7%
Coach, Inc.
    21,653       1,252,410  
Fossil, Inc. *
    4,228       365,468  
Jarden Corp.
    5,747       304,074  
Michael Kors Holdings Ltd. *
    8,653       459,907  
Mohawk Industries, Inc. *
    4,443       382,054  
NIKE, Inc., Class B
    27,951       2,724,664  
NVR, Inc. *
    358       322,143  
PVH Corp.
    5,334       611,223  
Ralph Lauren Corp.
    4,619       725,599  
Toll Brothers, Inc. *
    11,772       374,820  
Under Armour, Inc., Class A *
    6,333       328,239  
VF Corp.
    6,644       1,066,428  
                 
              8,917,029  
 
Consumer Services 2.1%
Apollo Group, Inc., Class A *
    7,646       146,727  
Burger King Worldwide, Inc.
    4,742       81,278  
Chipotle Mexican Grill, Inc. *
    2,416       637,292  
Dunkin’ Brands Group, Inc.
    5,548       176,537  
 
 
 
 1

 

 
 Schwab U.S. Large-Cap Growth ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Hyatt Hotels Corp., Class A *
    4,293       156,695  
Las Vegas Sands Corp.
    26,907       1,255,212  
Marriott International, Inc., Class A
    19,118       693,792  
MGM Resorts International *
    28,179       286,017  
Panera Bread Co., Class A *
    2,090       335,445  
Penn National Gaming, Inc. *
    5,134       260,910  
Starbucks Corp.
    57,749       2,995,441  
Starwood Hotels & Resorts Worldwide, Inc.
    15,100       814,796  
Weight Watchers International, Inc. (a)
    2,023       105,115  
Wynn Resorts Ltd.
    6,016       676,198  
Yum! Brands, Inc.
    35,026       2,349,544  
                 
              10,970,999  
 
Diversified Financials 2.4%
Affiliated Managers Group, Inc. *
    3,940       507,748  
Ameriprise Financial, Inc.
    15,960       968,293  
BlackRock, Inc.
    9,730       1,917,199  
Discover Financial Services
    39,140       1,628,615  
Franklin Resources, Inc.
    10,473       1,382,646  
IntercontinentalExchange, Inc. *
    5,525       730,129  
Leucadia National Corp.
    14,982       331,851  
Moody’s Corp.
    15,100       733,558  
MSCI, Inc. *
    9,145       265,205  
State Street Corp.
    36,374       1,616,461  
T. Rowe Price Group, Inc.
    19,393       1,254,145  
The Charles Schwab Corp. (b)
    83,250       1,090,575  
                 
              12,426,425  
 
Energy 9.2%
Anadarko Petroleum Corp.
    38,348       2,806,690  
Baker Hughes, Inc.
    33,824       1,459,506  
Cabot Oil & Gas Corp.
    15,834       745,781  
Cameron International Corp. *
    18,689       1,008,272  
Cimarex Energy Co.
    6,644       399,437  
Concho Resources, Inc. *
    7,879       632,368  
CONSOL Energy, Inc.
    17,243       540,568  
Continental Resources, Inc. *
    4,204       288,815  
Denbury Resources, Inc. *
    29,696       458,209  
Diamond Offshore Drilling, Inc.
    5,234       361,146  
Ensco plc, Class A
    17,654       1,027,992  
EOG Resources, Inc.
    20,604       2,423,442  
EQT Corp.
    11,352       681,801  
FMC Technologies, Inc. *
    18,096       739,403  
Halliburton Co.
    71,263       2,376,621  
Helmerich & Payne, Inc.
    8,052       420,314  
Hess Corp.
    22,593       1,120,839  
HollyFrontier Corp.
    15,435       699,669  
Kinder Morgan, Inc.
    48,018       1,623,489  
Marathon Petroleum Corp.
    25,646       1,526,963  
Murphy Oil Corp.
    14,009       794,871  
Nabors Industries Ltd. *
    22,118       325,135  
National-Oilwell Varco, Inc.
    32,422       2,214,423  
Newfield Exploration Co. *
    10,268       249,923  
Noble Corp.
    19,221       662,932  
Noble Energy, Inc.
    13,466       1,316,301  
Occidental Petroleum Corp.
    61,910       4,656,251  
Oceaneering International, Inc.
    8,186       431,238  
Oil States International, Inc. *
    4,126       291,791  
Peabody Energy Corp.
    20,643       518,346  
Pioneer Natural Resources Co.
    9,362       1,001,734  
Plains Exploration & Production Co. *
    9,966       355,786  
QEP Resources, Inc.
    13,362       375,739  
Range Resources Corp.
    12,382       792,696  
Rowan Cos. plc, Class A *
    9,531       302,419  
SandRidge Energy, Inc. *(a)
    26,423       154,575  
Schlumberger Ltd.
    101,170       7,245,795  
SM Energy Co.
    4,854       241,195  
Southwestern Energy Co. *
    26,405       916,518  
Superior Energy Services, Inc. *
    11,934       242,380  
Tesoro Corp.
    10,655       450,493  
Transocean Ltd.
    27,778       1,283,344  
Ultra Petroleum Corp. *(a)
    11,499       230,555  
Weatherford International Ltd. *
    57,694       600,594  
Whiting Petroleum Corp. *
    8,834       370,498  
WPX Energy, Inc. *
    14,798       233,660  
                 
              47,600,517  
 
Food & Staples Retailing 4.0%
Costco Wholesale Corp.
    32,804       3,411,288  
CVS Caremark Corp.
    97,537       4,536,446  
Wal-Mart Stores, Inc.
    128,048       9,222,017  
Walgreen Co.
    65,064       2,206,320  
Whole Foods Market, Inc.
    13,048       1,218,161  
                 
              20,594,232  
 
Food, Beverage & Tobacco 2.6%
Brown-Forman Corp., Class B
    11,533       809,386  
Bunge Ltd.
    11,174       817,490  
Green Mountain Coffee Roasters, Inc. *(a)
    9,805       359,549  
Lorillard, Inc.
    9,966       1,207,480  
Mead Johnson Nutrition Co.
    15,491       1,056,331  
Monster Beverage Corp. *
    11,452       596,077  
PepsiCo, Inc.
    118,680       8,332,523  
Ralcorp Holdings, Inc. *
    4,228       376,884  
                 
              13,555,720  
 
Health Care Equipment & Services 6.8%
Aetna, Inc.
    25,424       1,098,062  
AMERIGROUP Corp. *
    3,656       335,694  
AmerisourceBergen Corp.
    19,072       805,220  
Baxter International, Inc.
    41,972       2,781,484  
Becton, Dickinson & Co.
    15,122       1,159,404  
C.R. Bard, Inc.
    5,916       585,743  
CareFusion Corp. *
    17,818       497,479  
Cerner Corp. *
    10,961       846,408  
Coventry Health Care, Inc.
    10,170       444,226  
Covidien plc
    36,443       2,117,703  
DaVita HealthCare Partners, Inc. *
    6,342       684,936  
DENTSPLY International, Inc.
    10,894       432,492  
Edwards Lifesciences Corp. *
    8,758       759,932  
Express Scripts Holding Co. *
    61,608       3,317,591  
HCA Holdings, Inc.
    12,597       399,955  
Henry Schein, Inc. *
    6,769       546,732  
Hologic, Inc. *
    20,058       382,707  
IDEXX Laboratories, Inc. *
    4,242       396,500  
Intuitive Surgical, Inc. *
    3,020       1,597,580  
 
 
 
2 

 

 
 Schwab U.S. Large-Cap Growth ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Laboratory Corp. of America Holdings *
    7,263       614,377  
McKesson Corp.
    17,907       1,691,674  
Medtronic, Inc.
    77,513       3,264,072  
Omnicare, Inc.
    9,060       328,334  
Patterson Cos., Inc.
    6,445       219,774  
Quest Diagnostics, Inc.
    12,080       697,982  
ResMed, Inc.
    10,786       443,197  
St. Jude Medical, Inc.
    23,816       816,412  
Stryker Corp.
    21,991       1,191,032  
The Cooper Cos., Inc.
    3,656       347,101  
UnitedHealth Group, Inc.
    79,115       4,303,065  
Universal Health Services, Inc., Class B
    6,627       298,679  
Varian Medical Systems, Inc. *
    8,486       586,892  
Zimmer Holdings, Inc.
    13,212       871,596  
                 
              34,864,035  
 
Household & Personal Products 1.2%
Church & Dwight Co., Inc.
    10,570       572,365  
Colgate-Palmolive Co.
    34,123       3,702,345  
Energizer Holdings, Inc.
    4,939       393,935  
Herbalife Ltd.
    8,474       389,550  
The Estee Lauder Cos., Inc., Class A
    18,191       1,059,626  
                 
              6,117,821  
 
Insurance 3.4%
Alleghany Corp. *
    1,308       459,108  
Axis Capital Holdings Ltd.
    9,014       324,234  
Berkshire Hathaway, Inc., Class B *
    139,823       12,315,610  
Erie Indemnity Co., Class A
    1,901       135,503  
Everest Re Group Ltd.
    3,937       427,046  
Loews Corp.
    23,757       971,186  
Markel Corp. *
    717       343,443  
PartnerRe Ltd.
    4,808       398,487  
RenaissanceRe Holdings Ltd.
    3,948       326,737  
The Progressive Corp.
    42,602       905,293  
White Mountains Insurance Group Ltd.
    428       220,531  
XL Group plc
    23,197       564,383  
                 
              17,391,561  
 
Materials 4.5%
Airgas, Inc.
    5,234       463,575  
Albemarle Corp.
    6,666       398,560  
Allied Nevada Gold Corp. *
    6,362       207,083  
AptarGroup, Inc.
    5,047       240,591  
Ashland, Inc.
    5,455       386,869  
Ball Corp.
    11,729       524,169  
CF Industries Holdings, Inc.
    4,832       1,034,193  
Cliffs Natural Resources, Inc.
    10,909       313,634  
Crown Holdings, Inc. *
    11,515       430,085  
Ecolab, Inc.
    20,021       1,443,114  
FMC Corp.
    10,446       579,335  
Freeport-McMoRan Copper & Gold, Inc.
    72,773       2,838,875  
LyondellBasell Industries N.V., Class A
    25,755       1,280,796  
Monsanto Co.
    40,764       3,733,575  
Newmont Mining Corp.
    38,052       1,791,869  
Nucor Corp.
    24,062       990,873  
Praxair, Inc.
    22,626       2,425,733  
Reliance Steel & Aluminum Co.
    5,738       323,623  
Rock-Tenn Co., Class A
    5,436       353,557  
Royal Gold, Inc.
    4,850       391,686  
Sigma-Aldrich Corp.
    9,154       663,848  
The Mosaic Co.
    21,042       1,137,531  
The Sherwin-Williams Co.
    6,481       988,482  
W.R. Grace & Co. *
    5,321       348,366  
                 
              23,290,022  
 
Media 3.8%
AMC Networks, Inc., Class A *
    4,832       254,936  
Charter Communications, Inc., Class A *
    3,433       243,228  
Comcast Corp., Class A
    203,850       7,579,143  
DIRECTV *
    47,728       2,372,082  
Discovery Communications, Inc., Series A *
    18,791       1,135,164  
DISH Network Corp., Class A
    17,310       641,162  
John Wiley & Sons, Inc., Class A
    3,557       151,884  
Liberty Global, Inc., Series A *
    18,959       1,062,462  
Liberty Media Corp. - Liberty Capital, Series A *
    8,475       932,165  
Scripps Networks Interactive, Inc., Class A
    6,544       386,358  
Sirius XM Radio, Inc. *
    248,848       691,798  
The Washington Post Co., Class B
    353       129,572  
Time Warner Cable, Inc.
    23,550       2,234,660  
Viacom, Inc., Class B
    36,533       1,885,468  
                 
              19,700,082  
 
Pharmaceuticals, Biotechnology & Life Sciences 5.9%
Agilent Technologies, Inc.
    27,180       1,040,722  
Alexion Pharmaceuticals, Inc. *
    14,685       1,410,054  
Allergan, Inc.
    23,553       2,184,541  
Amgen, Inc.
    58,890       5,229,432  
Biogen Idec, Inc. *
    17,958       2,677,358  
BioMarin Pharmaceutical, Inc. *
    9,403       456,986  
Celgene Corp. *
    32,799       2,577,673  
Covance, Inc. *
    4,233       241,323  
Endo Health Solutions, Inc. *
    8,797       252,122  
Forest Laboratories, Inc. *
    17,754       629,557  
Gilead Sciences, Inc. *
    57,679       4,325,925  
Hospira, Inc. *
    12,423       370,205  
Illumina, Inc. *
    9,397       504,713  
Life Technologies Corp. *
    13,353       658,970  
Mettler-Toledo International, Inc. *
    2,312       432,552  
Mylan, Inc. *
    30,843       838,313  
Onyx Pharmaceuticals, Inc. *
    4,908       370,407  
Perrigo Co.
    6,644       687,654  
Pharmacyclics, Inc. *
    3,756       199,256  
Regeneron Pharmaceuticals, Inc. *
    5,738       1,013,044  
Techne Corp.
    2,718       192,706  
Thermo Fisher Scientific, Inc.
    27,749       1,763,449  
United Therapeutics Corp. *
    3,627       190,599  
Vertex Pharmaceuticals, Inc. *
    16,419       653,312  
Warner Chilcott plc, Class A
    13,139       153,201  
Waters Corp. *
    6,658       562,934  
Watson Pharmaceuticals, Inc. *
    9,704       854,049  
                 
              30,471,057  
 
 
 
 3

 

 
 Schwab U.S. Large-Cap Growth ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Real Estate 3.2%
Alexandria Real Estate Equities, Inc.
    4,832       328,189  
American Campus Communities, Inc.
    8,154       357,145  
American Tower Corp.
    29,987       2,246,926  
AvalonBay Communities, Inc.
    7,348       968,393  
Boston Properties, Inc.
    11,476       1,177,782  
BRE Properties, Inc.
    5,738       279,154  
CBRE Group, Inc., Class A *
    22,895       433,402  
Digital Realty Trust, Inc.
    9,362       604,224  
Essex Property Trust, Inc.
    2,718       381,852  
Federal Realty Investment Trust
    4,832       502,721  
Host Hotels & Resorts, Inc.
    54,907       806,584  
Jones Lang LaSalle, Inc.
    3,322       272,437  
Public Storage
    10,972       1,543,102  
Realogy Holdings Corp. *
    3,917       147,710  
Simon Property Group, Inc.
    23,049       3,506,444  
SL Green Realty Corp.
    6,946       523,590  
Taubman Centers, Inc.
    4,695       363,722  
The Macerich Co.
    10,268       580,142  
Ventas, Inc.
    22,462       1,429,706  
                 
              16,453,225  
 
Retailing 6.0%
Advance Auto Parts, Inc.
    5,525       404,154  
Amazon.com, Inc. *
    27,493       6,929,611  
AutoZone, Inc. *
    2,855       1,095,663  
Bed Bath & Beyond, Inc. *
    17,594       1,033,120  
CarMax, Inc. *
    17,272       626,283  
Dick’s Sporting Goods, Inc.
    7,329       384,846  
Dollar General Corp. *
    20,172       1,008,600  
Dollar Tree, Inc. *
    17,481       729,657  
Family Dollar Stores, Inc.
    7,410       527,592  
Groupon, Inc. *(a)
    20,369       85,346  
J.C. Penney Co., Inc. (a)
    10,855       194,739  
Kohl’s Corp.
    16,375       731,144  
LKQ Corp. *
    23,556       516,347  
Lowe’s Cos., Inc.
    87,278       3,149,863  
Netflix, Inc. *(a)
    4,228       345,470  
Nordstrom, Inc.
    11,584       626,578  
O’Reilly Automotive, Inc. *
    9,025       849,072  
PetSmart, Inc.
    8,453       597,289  
Priceline.com, Inc. *
    3,805       2,523,324  
Ross Stores, Inc.
    16,990       967,071  
Sally Beauty Holdings, Inc. *
    11,716       297,001  
Sears Holdings Corp. *(a)
    2,796       117,460  
Target Corp.
    50,126       3,164,454  
The TJX Cos., Inc.
    55,937       2,480,246  
Tiffany & Co.
    8,996       530,584  
Tractor Supply Co.
    5,453       488,698  
Ulta Salon, Cosmetics & Fragrance, Inc.
    4,494       450,658  
Urban Outfitters, Inc. *
    8,262       311,477  
                 
              31,166,347  
 
Semiconductors & Semiconductor Equipment 1.0%
Altera Corp.
    24,341       788,405  
Atmel Corp. *
    33,046       184,727  
Broadcom Corp., Class A *
    39,046       1,264,310  
Cree, Inc. *
    8,834       285,427  
Lam Research Corp. *
    13,824       485,499  
Marvell Technology Group Ltd.
    37,579       318,670  
NVIDIA Corp.
    47,044       563,587  
Skyworks Solutions, Inc. *
    14,496       328,334  
Xilinx, Inc.
    19,999       692,965  
                 
              4,911,924  
 
Software & Services 15.5%
Accenture plc, Class A
    48,220       3,275,102  
Activision Blizzard, Inc.
    32,348       370,061  
Adobe Systems, Inc. *
    37,313       1,291,403  
Akamai Technologies, Inc. *
    13,637       499,387  
Alliance Data Systems Corp. *
    3,813       543,314  
ANSYS, Inc. *
    7,035       466,632  
Autodesk, Inc. *
    17,321       573,845  
Automatic Data Processing, Inc.
    36,798       2,088,654  
BMC Software, Inc. *
    11,050       452,608  
Citrix Systems, Inc. *
    14,170       866,637  
Cognizant Technology Solutions Corp., Class A *
    22,705       1,526,457  
Concur Technologies, Inc. *
    3,443       226,240  
eBay, Inc. *
    88,480       4,673,514  
Electronic Arts, Inc. *
    24,138       357,484  
Equinix, Inc. *
    3,624       673,194  
Facebook, Inc., Class A *
    37,402       1,047,256  
FactSet Research Systems, Inc.
    3,109       287,241  
Fidelity National Information Services, Inc.
    19,630       708,643  
Fiserv, Inc. *
    10,244       788,686  
Fortinet, Inc. *
    9,916       198,122  
Gartner, Inc. *
    7,099       339,900  
Genpact Ltd.
    10,147       162,859  
Global Payments, Inc.
    6,071       266,578  
Google, Inc., Class A *
    20,223       14,123,136  
IAC/InterActiveCorp
    6,080       286,672  
Informatica Corp. *
    9,060       243,442  
Intuit, Inc.
    21,140       1,266,497  
LinkedIn Corp., Class A *
    5,032       544,160  
MasterCard, Inc., Class A
    8,184       3,999,357  
MICROS Systems, Inc. *
    6,060       263,368  
Microsoft Corp.
    575,896       15,330,352  
NetSuite, Inc. *
    2,078       123,890  
Nuance Communications, Inc. *
    18,746       416,911  
Oracle Corp.
    290,222       9,316,126  
Rackspace Hosting, Inc. *
    8,221       568,236  
Red Hat, Inc. *
    14,533       717,930  
Salesforce.com, Inc. *
    9,664       1,523,723  
ServiceNow, Inc. *(a)
    906       29,563  
SolarWinds, Inc. *
    4,595       257,458  
Solera Holdings, Inc.
    5,304       274,535  
Symantec Corp. *
    53,362       1,001,071  
Synopsys, Inc. *
    11,281       370,017  
Teradata Corp. *
    12,773       759,738  
TIBCO Software, Inc. *
    11,732       293,887  
Vantiv, Inc., Class A *
    3,242       70,254  
VeriFone Systems, Inc. *
    8,154       247,800  
Visa, Inc., Class A
    39,864       5,968,039  
VMware, Inc., Class A *
    6,486       589,902  
                 
              80,269,881  
 
 
 
4 

 

 
 Schwab U.S. Large-Cap Growth ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Technology Hardware & Equipment 13.9%
Amphenol Corp., Class A
    12,258       759,015  
Apple, Inc.
    71,495       41,844,594  
Arrow Electronics, Inc. *
    8,758       326,323  
Cisco Systems, Inc.
    403,774       7,635,366  
Corning, Inc.
    113,116       1,383,409  
Dell, Inc.
    110,613       1,066,309  
Dolby Laboratories, Inc., Class A *
    3,637       121,367  
EMC Corp. *
    159,355       3,955,191  
F5 Networks, Inc. *
    6,061       567,795  
FLIR Systems, Inc.
    11,818       241,087  
Hewlett-Packard Co.
    149,319       1,939,654  
JDS Uniphase Corp. *
    17,516       212,469  
Juniper Networks, Inc. *
    40,304       724,666  
NetApp, Inc. *
    27,451       870,471  
Palo Alto Networks, Inc. *(a)
    391       21,278  
QUALCOMM, Inc.
    129,860       8,261,693  
Riverbed Technology, Inc. *
    11,379       203,684  
SanDisk Corp. *
    18,380       718,658  
Trimble Navigation Ltd. *
    9,540       530,806  
Western Digital Corp.
    16,937       566,373  
                 
              71,950,208  
 
Telecommunication Services 0.5%
Crown Castle International Corp. *
    22,212       1,499,754  
Level 3 Communications, Inc. *
    12,125       228,678  
MetroPCS Communications, Inc. *
    24,043       256,058  
SBA Communications Corp., Class A *
    9,664       665,076  
United States Cellular Corp. *
    1,062       37,011  
                 
              2,686,577  
 
Transportation 3.1%
C.H. Robinson Worldwide, Inc.
    12,212       753,969  
CSX Corp.
    78,942       1,559,894  
Delta Air Lines, Inc. *
    64,536       645,360  
Expeditors International of Washington, Inc.
    15,937       596,363  
FedEx Corp.
    22,348       2,000,816  
Hertz Global Holdings, Inc. *
    22,714       355,247  
J.B. Hunt Transport Services, Inc.
    6,911       410,859  
Kansas City Southern
    8,456       660,836  
Southwest Airlines Co.
    56,476       538,216  
Union Pacific Corp.
    36,016       4,422,045  
United Parcel Service, Inc., Class B
    54,958       4,017,979  
                 
              15,961,584  
 
Utilities 0.5%
Calpine Corp. *
    29,403       507,496  
ITC Holdings Corp.
    3,940       309,487  
NRG Energy, Inc.
    17,578       370,896  
ONEOK, Inc.
    15,585       699,299  
The AES Corp.
    47,129       502,866  
                 
              2,390,044  
                 
Total Common Stock
(Cost $463,718,653)     515,344,868  
         
                 
                 
 
 Other Investment Company 0.1% of net assets
 
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund
    399,363       399,363  
                 
Total Other Investment Company
(Cost $399,363)     399,363  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 0.2% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    845,451       845,451  
                 
Total Collateral Invested for Securities on Loan
(Cost $845,451)     845,451  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $464,392,267 and the unrealized appreciation and depreciation were $72,581,368 and ($21,229,404), respectively, with a net unrealized appreciation of $51,351,964.
 
* Non-income producing security.
(a) All or a portion of this security is on loan.
(b) Issuer is affiliated with the fund’s adviser.
 
     
Reg’d —
  Registered
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
 
 
 5

 

 
 Schwab U.S. Large-Cap Growth ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
 
 
6 

 

 
 Schwab U.S. Large-Cap Growth ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $515,344,868       $—       $—       $515,344,868  
Other Investment Company1
    399,363       —       —       399,363  
                                 
Total
    $515,744,231       $—       $—       $515,744,231  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $845,451       $—       $—       $845,451  
 
     
1
  As categorized in Portfolio Holdings.
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG56689NOV12
 
 
 
 7

 

Schwab Strategic Trust
Schwab U.S. Large-Cap Value ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  99 .7%   Common Stock     381,477,923       408,786,667  
  0 .0%   Other Investment Company     165,346       165,346  
 
 
  99 .7%   Total Investments     381,643,269       408,952,013  
  0 .1%   Collateral Invested for Securities on Loan     579,289       579,289  
  0 .2%   Other Assets and
Liabilities, Net 		            671,504  
 
 
  100 .0%   Net Assets             410,202,806  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 99.7% of net assets
 
Automobiles & Components 1.2%
Ford Motor Co.
    218,009       2,496,203  
General Motors Co. *
    43,934       1,137,012  
Gentex Corp.
    8,200       145,550  
Harley-Davidson, Inc.
    13,068       613,673  
Lear Corp.
    5,912       258,177  
The Goodyear Tire & Rubber Co. *
    13,986       176,224  
TRW Automotive Holdings Corp. *
    6,003       303,992  
                 
              5,130,831  
 
Banks 5.0%
BB&T Corp.
    40,127       1,130,378  
BOK Financial Corp.
    1,458       80,248  
City National Corp.
    2,671       130,051  
Comerica, Inc.
    11,084       327,975  
Commerce Bancshares, Inc.
    4,537       162,350  
Cullen/Frost Bankers, Inc.
    3,626       198,016  
Fifth Third Bancorp
    52,672       771,118  
First Republic Bank
    3,869       130,849  
Hudson City Bancorp, Inc.
    27,972       225,454  
Huntington Bancshares, Inc.
    49,381       303,693  
KeyCorp
    54,390       439,471  
M&T Bank Corp.
    6,952       679,419  
New York Community Bancorp, Inc.
    24,864       323,481  
People’s United Financial, Inc.
    20,736       252,772  
PNC Financial Services Group, Inc.
    30,562       1,715,751  
Regions Financial Corp.
    80,549       537,262  
TFS Financial Corp. *
    5,180       42,580  
U.S. Bancorp
    109,557       3,534,309  
Wells Fargo & Co.
    282,828       9,336,152  
Zions Bancorp
    10,360       207,925  
                 
              20,529,254  
 
Capital Goods 8.0%
3M Co.
    36,778       3,344,959  
Eaton Corp. plc *
    26,366       1,375,251  
General Dynamics Corp.
    18,994       1,263,101  
General Electric Co.
    608,650       12,860,774  
Honeywell International, Inc.
    45,066       2,763,898  
Hubbell, Inc., Class B
    3,126       263,365  
Ingersoll-Rand plc
    16,406       800,285  
L-3 Communications Holdings, Inc.
    5,498       422,521  
Lockheed Martin Corp.
    15,463       1,442,698  
Masco Corp.
    20,734       351,649  
Northrop Grumman Corp.
    14,163       944,672  
Owens Corning *
    6,555       226,672  
Parker Hannifin Corp.
    8,606       706,983  
Raytheon Co.
    19,079       1,089,983  
Rockwell Automation, Inc.
    8,088       640,893  
Snap-On, Inc.
    3,300       262,152  
The Timken Co.
    4,600       207,230  
United Technologies Corp.
    48,433       3,879,968  
URS Corp.
    4,405       165,980  
                 
              33,013,034  
 
Commercial & Professional Services 0.9%
Avery Dennison Corp.
    5,852       195,750  
Cintas Corp.
    6,130       254,027  
Iron Mountain, Inc.
    9,707       306,741  
Manpower, Inc.
    4,662       179,207  
Pitney Bowes, Inc. (a)
    11,460       128,237  
Republic Services, Inc.
    17,425       496,090  
The ADT Corp. *
    13,171       604,549  
Tyco International Ltd.
    26,343       747,351  
Waste Management, Inc.
    24,938       812,231  
                 
              3,724,183  
 
Consumer Durables & Apparel 1.0%
D.R. Horton, Inc.
    15,921       309,823  
Garmin Ltd. (a)
    6,693       260,291  
Harman International Industries, Inc.
    3,800       150,328  
Hasbro, Inc.
    6,689       257,259  
Leggett & Platt, Inc.
    7,770       216,394  
Lennar Corp., Class A
    9,324       354,685  
Mattel, Inc.
    19,943       748,062  
Newell Rubbermaid, Inc.
    16,739       365,078  
Polaris Industries, Inc.
    3,726       316,002  
PulteGroup, Inc. *
    19,200       322,752  
Tupperware Brands Corp.
    3,167       205,380  
Whirlpool Corp.
    4,442       452,373  
                 
              3,958,427  
 
Consumer Services 1.9%
Carnival Corp.
    25,592       989,387  
Darden Restaurants, Inc.
    7,452       394,062  
 
 
 
 1

 

 
 Schwab U.S. Large-Cap Value ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
H&R Block, Inc.
    15,540       280,186  
International Game Technology
    15,326       212,572  
McDonald’s Corp.
    58,016       5,049,713  
Royal Caribbean Cruises Ltd.
    8,230       290,107  
Wyndham Worldwide Corp.
    8,147       399,936  
                 
              7,615,963  
 
Diversified Financials 8.9%
American Express Co.
    56,980       3,185,182  
Bank of America Corp.
    621,341       6,126,422  
Capital One Financial Corp.
    33,344       1,920,614  
CBOE Holdings, Inc.
    5,000       149,900  
Citigroup, Inc.
    169,386       5,855,674  
CME Group, Inc.
    17,555       970,265  
E*TRADE Financial Corp. *
    14,600       122,932  
Eaton Vance Corp.
    6,475       206,423  
Invesco Ltd.
    25,582       639,294  
Jefferies Group, Inc.
    7,347       124,605  
JPMorgan Chase & Co.
    218,596       8,979,924  
Legg Mason, Inc.
    6,888       175,851  
LPL Financial Holdings, Inc.
    2,144       60,053  
Morgan Stanley
    79,256       1,337,049  
Northern Trust Corp.
    12,950       621,859  
NYSE Euronext
    14,140       330,169  
Raymond James Financial, Inc.
    6,416       242,204  
SEI Investments Co.
    7,755       170,688  
SLM Corp.
    26,903       445,245  
TD Ameritrade Holding Corp.
    13,132       212,738  
The Bank of New York Mellon Corp.
    67,735       1,621,576  
The Goldman Sachs Group, Inc.
    25,900       3,050,761  
The NASDAQ OMX Group, Inc.
    6,700       162,341  
                 
              36,711,769  
 
Energy 12.2%
Apache Corp.
    22,456       1,731,133  
Chesapeake Energy Corp.
    29,796       507,426  
Chevron Corp.
    113,183       11,962,311  
Cobalt International Energy, Inc. *
    10,119       235,975  
ConocoPhillips
    69,930       3,981,814  
Devon Energy Corp.
    21,615       1,116,847  
Energen Corp.
    4,176       185,957  
Exxon Mobil Corp.
    265,993       23,444,623  
Marathon Oil Corp.
    40,663       1,254,454  
McDermott International, Inc. *
    13,209       139,091  
Patterson-UTI Energy, Inc.
    8,600       152,736  
Phillips 66
    36,260       1,898,936  
Spectra Energy Corp.
    37,233       1,040,662  
The Williams Cos., Inc.
    35,929       1,179,909  
Tidewater, Inc.
    2,871       128,793  
Valero Energy Corp.
    31,670       1,021,674  
                 
              49,982,341  
 
Food & Staples Retailing 0.5%
Safeway, Inc. (a)
    13,682       234,099  
Sysco Corp.
    33,870       1,071,986  
The Kroger Co.
    31,180       818,163  
                 
              2,124,248  
 
Food, Beverage & Tobacco 9.0%
Altria Group, Inc.
    117,586       3,975,583  
Archer-Daniels-Midland Co.
    37,701       1,006,617  
Beam, Inc.
    9,147       513,238  
Campbell Soup Co.
    10,296       378,378  
Coca-Cola Enterprises, Inc.
    15,894       495,575  
ConAgra Foods, Inc.
    23,251       694,275  
Constellation Brands, Inc., Class A *
    8,501       305,016  
Dr. Pepper Snapple Group, Inc.
    12,050       540,442  
General Mills, Inc.
    37,152       1,522,860  
H.J. Heinz Co.
    18,489       1,080,867  
Hillshire Brands Co.
    6,800       189,380  
Hormel Foods Corp.
    8,029       248,979  
Ingredion, Inc.
    4,437       288,183  
Kellogg Co.
    14,186       786,756  
Kraft Foods Group, Inc. *
    33,842       1,530,335  
McCormick & Co., Inc. Non Voting Shares
    7,611       491,366  
Molson Coors Brewing Co., Class B
    8,806       365,097  
Mondelez International, Inc., Class A
    102,823       2,662,087  
Philip Morris International, Inc.
    97,125       8,729,595  
Reynolds American, Inc.
    18,943       828,188  
Smithfield Foods, Inc. *
    7,747       173,300  
The Coca-Cola Co.
    222,999       8,456,122  
The Hershey Co.
    8,665       634,885  
The J.M. Smucker Co.
    6,352       561,898  
Tyson Foods, Inc., Class A
    16,317       312,797  
                 
              36,771,819  
 
Health Care Equipment & Services 0.9%
Boston Scientific Corp. *
    82,303       455,959  
Cardinal Health, Inc.
    19,543       790,514  
CIGNA Corp.
    16,317       852,889  
Humana, Inc.
    9,424       616,424  
WellPoint, Inc.
    17,612       984,511  
                 
              3,700,297  
 
Household & Personal Products 3.4%
Avon Products, Inc.
    24,605       343,240  
Kimberly-Clark Corp.
    22,792       1,953,730  
The Clorox Co.
    7,388       564,074  
The Procter & Gamble Co.
    158,508       11,068,613  
                 
              13,929,657  
 
Insurance 4.8%
ACE Ltd.
    19,425       1,539,043  
Aflac, Inc.
    26,972       1,429,246  
Allied World Assurance Co. Holdings AG
    2,093       169,889  
American Financial Group, Inc.
    4,480       177,632  
American International Group, Inc. *
    67,599       2,239,555  
Aon plc
    18,448       1,047,846  
Arch Capital Group Ltd. *
    7,838       353,494  
Arthur J. Gallagher & Co.
    6,900       251,988  
Assurant, Inc.
    4,798       164,140  
Assured Guaranty Ltd.
    11,083       154,608  
Brown & Brown, Inc.
    6,734       180,741  
Cincinnati Financial Corp.
    8,614       349,039  
 
 
 
2 

 

 
 Schwab U.S. Large-Cap Value ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
CNA Financial Corp.
    1,754       49,515  
Fidelity National Financial, Inc., Class A
    12,068       292,166  
Genworth Financial, Inc., Class A *
    28,260       168,147  
Hartford Financial Services Group, Inc.
    25,317       536,214  
HCC Insurance Holdings, Inc.
    5,734       211,470  
Lincoln National Corp.
    16,248       401,326  
Marsh & McLennan Cos., Inc.
    31,035       1,093,053  
MetLife, Inc.
    61,642       2,045,898  
Principal Financial Group, Inc.
    15,876       431,033  
Prudential Financial, Inc.
    26,772       1,395,357  
Reinsurance Group of America, Inc.
    4,244       217,293  
The Allstate Corp.
    27,772       1,124,211  
The Chubb Corp.
    15,246       1,173,790  
The Travelers Cos., Inc.
    22,092       1,564,555  
Torchmark Corp.
    5,575       289,844  
Unum Group
    16,065       327,565  
Validus Holdings Ltd.
    5,300       187,938  
W.R. Berkley Corp.
    6,398       254,320  
                 
              19,820,916  
 
Materials 3.0%
Air Products & Chemicals, Inc.
    12,096       1,003,242  
Alcoa, Inc.
    63,455       533,656  
Allegheny Technologies, Inc.
    6,100       159,698  
Bemis Co., Inc.
    6,003       201,701  
Celanese Corp., Series A
    9,065       372,028  
E.I. du Pont de Nemours & Co.
    53,613       2,312,865  
Eastman Chemical Co.
    8,814       536,332  
Huntsman Corp.
    11,100       182,484  
International Flavors & Fragrances, Inc.
    4,698       305,511  
International Paper Co.
    25,051       930,394  
Martin Marietta Materials, Inc.
    2,600       234,000  
MeadWestvaco Corp.
    10,360       320,228  
Owens-Illinois, Inc. *
    9,324       186,760  
PPG Industries, Inc.
    8,765       1,089,226  
Rockwood Holdings, Inc.
    4,405       202,057  
Sealed Air Corp.
    10,139       170,538  
Sonoco Products Co.
    5,745       172,752  
Steel Dynamics, Inc.
    12,500       161,500  
The Dow Chemical Co.
    68,663       2,072,936  
The Scotts Miracle-Gro Co., Class A
    2,200       91,212  
The Valspar Corp.
    4,959       311,326  
Tronox Ltd., Class A
    1,400       21,672  
United States Steel Corp. (a)
    8,200       176,792  
Valhi, Inc.
    1,200       14,448  
Vulcan Materials Co.
    7,389       390,435  
Westlake Chemical Corp.
    1,100       79,651  
                 
              12,233,444  
 
Media 3.4%
Cablevision Systems Corp., Class A
    12,372       171,228  
CBS Corp., Class B Non Voting Shares
    34,706       1,248,722  
Gannett Co., Inc.
    13,727       245,713  
News Corp., Class A
    116,832       2,878,741  
Omnicom Group, Inc.
    15,199       755,998  
The Interpublic Group of Cos., Inc.
    25,059       271,138  
The McGraw-Hill Cos., Inc.
    16,090       854,540  
The Walt Disney Co.
    103,600       5,144,776  
Time Warner, Inc.
    54,649       2,584,898  
                 
              14,155,754  
 
Pharmaceuticals, Biotechnology & Life Sciences 10.2%
Abbott Laboratories
    90,650       5,892,250  
Bristol-Myers Squibb Co.
    96,328       3,143,183  
Eli Lilly & Co.
    58,580       2,872,763  
Johnson & Johnson
    158,508       11,052,763  
Merck & Co., Inc.
    175,602       7,779,168  
PerkinElmer, Inc.
    6,500       205,725  
Pfizer, Inc.
    429,681       10,750,619  
                 
              41,696,471  
 
Real Estate 2.7%
American Capital Agency Corp.
    19,539       616,455  
Annaly Capital Management, Inc.
    57,239       842,558  
Camden Property Trust
    4,921       323,310  
Chimera Investment Corp.
    57,831       158,457  
DDR Corp.
    13,727       210,160  
Equity Residential
    17,276       958,991  
General Growth Properties, Inc.
    25,782       499,397  
HCP, Inc.
    25,902       1,166,885  
Health Care REIT, Inc.
    14,763       869,393  
Kimco Realty Corp.
    23,310       448,951  
Liberty Property Trust
    6,787       236,391  
Piedmont Office Realty Trust, Inc., Class A
    9,936       175,370  
Plum Creek Timber Co., Inc.
    9,396       402,619  
ProLogis, Inc.
    26,359       894,624  
Rayonier, Inc.
    7,047       351,223  
Realty Income Corp.
    7,770       316,084  
Regency Centers Corp.
    5,220       244,557  
Senior Housing Properties Trust
    10,000       223,500  
UDR, Inc.
    14,314       329,365  
Vornado Realty Trust
    9,719       742,823  
Weyerhaeuser Co.
    31,598       870,841  
                 
              10,881,954  
 
Retailing 2.9%
Abercrombie & Fitch Co., Class A
    4,921       225,825  
American Eagle Outfitters, Inc.
    10,296       218,275  
AutoNation, Inc. *
    2,196       85,512  
Best Buy Co., Inc.
    15,217       199,495  
Dillard’s, Inc., Class A
    1,700       151,147  
Expedia, Inc.
    5,339       330,270  
Foot Locker, Inc.
    8,806       315,607  
Genuine Parts Co.
    9,065       590,041  
GNC Holdings, Inc., Class A
    4,500       158,085  
Liberty Interactive Corp., Series A *
    29,647       572,187  
Limited Brands, Inc.
    13,681       713,464  
Macy’s, Inc.
    23,087       893,467  
Signet Jewelers Ltd.
    4,621       248,379  
Staples, Inc.
    39,145       457,996  
The Gap, Inc.
    17,084       588,715  
The Home Depot, Inc.
    87,024       5,662,652  
TripAdvisor, Inc. *
    6,242       238,382  
Williams-Sonoma, Inc.
    4,900       221,774  
                 
              11,871,273  
 
 
 
 3

 

 
 Schwab U.S. Large-Cap Value ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Semiconductors & Semiconductor Equipment 2.8%
Advanced Micro Devices, Inc. *(a)
    33,199       73,038  
Analog Devices, Inc.
    17,300       702,380  
Applied Materials, Inc.
    71,031       762,163  
Intel Corp.
    288,008       5,636,316  
KLA-Tencor Corp.
    9,508       432,329  
Linear Technology Corp.
    13,228       439,037  
LSI Corp. *
    32,160       216,758  
Maxim Integrated Products, Inc.
    16,835       491,414  
Microchip Technology, Inc.
    10,962       333,464  
Micron Technology, Inc. *
    58,321       348,760  
ON Semiconductor Corp. *
    25,900       171,717  
Texas Instruments, Inc.
    65,245       1,922,770  
                 
              11,530,146  
 
Software & Services 3.8%
Broadridge Financial Solutions, Inc.
    7,170       169,284  
CA, Inc.
    19,620       434,779  
Computer Sciences Corp.
    8,874       337,744  
International Business Machines Corp.
    61,901       11,765,523  
Paychex, Inc.
    18,648       606,806  
SAIC, Inc.
    16,281       187,720  
Total System Services, Inc.
    9,241       202,840  
VeriSign, Inc. *
    9,136       311,812  
Western Union Co.
    34,519       435,285  
Yahoo!, Inc. *
    60,865       1,142,436  
                 
              15,594,229  
 
Technology Hardware & Equipment 1.0%
Avnet, Inc. *
    8,288       242,755  
Harris Corp.
    6,493       306,015  
Jabil Circuit, Inc.
    10,878       206,682  
Molex, Inc.
    7,906       208,560  
Motorola Solutions, Inc.
    16,435       894,886  
NCR Corp. *
    9,100       217,763  
Seagate Technology plc
    20,246       508,175  
TE Connectivity Ltd.
    24,511       862,542  
Xerox Corp.
    75,026       510,927  
                 
              3,958,305  
 
Telecommunication Services 5.3%
AT&T, Inc.
    332,556       11,350,136  
CenturyLink, Inc.
    35,661       1,385,073  
Frontier Communications Corp. (a)
    57,330       275,757  
Sprint Nextel Corp. *
    175,861       1,007,684  
Telephone & Data Systems, Inc.
    5,839       134,356  
Verizon Communications, Inc.
    163,947       7,233,342  
Windstream Corp. (a)
    33,861       283,755  
                 
              21,670,103  
 
Transportation 0.4%
Norfolk Southern Corp.
    18,366       1,108,939  
United Continental Holdings, Inc. *
    19,053       385,252  
                 
              1,494,191  
 
Utilities 6.5%
AGL Resources, Inc.
    6,734       262,491  
Alliant Energy Corp.
    6,264       280,752  
Ameren Corp.
    13,927       417,392  
American Electric Power Co., Inc.
    27,713       1,181,959  
American Water Works Co., Inc.
    10,101       385,555  
Aqua America, Inc.
    8,806       224,905  
Atmos Energy Corp.
    5,180       181,352  
CenterPoint Energy, Inc.
    24,474       482,872  
CMS Energy Corp.
    15,098       368,844  
Consolidated Edison, Inc.
    17,094       953,674  
Dominion Resources, Inc.
    32,893       1,681,161  
DTE Energy Co.
    9,883       598,712  
Duke Energy Corp.
    40,663       2,595,113  
Edison International
    18,719       851,340  
Entergy Corp.
    10,126       643,406  
Exelon Corp.
    48,992       1,480,538  
FirstEnergy Corp.
    24,105       1,023,498  
Integrys Energy Group, Inc.
    4,442       236,181  
MDU Resources Group, Inc.
    10,842       224,646  
National Fuel Gas Co.
    4,802       250,088  
NextEra Energy, Inc.
    24,605       1,690,610  
NiSource, Inc.
    17,857       431,604  
Northeast Utilities
    17,969       696,119  
NV Energy, Inc.
    13,572       248,775  
OGE Energy Corp.
    5,698       325,527  
Pepco Holdings, Inc.
    13,059       257,785  
PG&E Corp.
    24,864       1,018,181  
Pinnacle West Capital Corp.
    6,264       322,345  
PPL Corp.
    33,411       980,613  
Public Service Enterprise Group, Inc.
    29,208       878,869  
Questar Corp.
    10,246       201,027  
SCANA Corp.
    7,534       349,126  
Sempra Energy
    12,950       886,039  
TECO Energy, Inc.
    11,396       191,567  
The Southern Co.
    50,210       2,186,645  
UGI Corp.
    6,525       216,761  
Westar Energy, Inc.
    7,268       208,592  
Wisconsin Energy Corp.
    13,209       495,734  
Xcel Energy, Inc.
    28,749       777,660  
                 
              26,688,058  
                 
Total Common Stock
(Cost $381,477,923)     408,786,667  
         
                 
                 
 
 Other Investment Company 0.0% of net assets
 
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund
    165,346       165,346  
                 
Total Other Investment Company
(Cost $165,346)     165,346  
         
 
End of Investments
                 
                 
 
 
 
4 

 

 
 Schwab U.S. Large-Cap Value ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Collateral Invested for Securities on Loan 0.1% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    579,289       579,289  
                 
Total Collateral Invested for Securities on Loan
(Cost $579,289)     579,289  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $381,985,344 and the unrealized appreciation and depreciation were $38,270,204 and ($11,303,535), respectively, with a net unrealized appreciation $26,966,669.
 
* Non-income producing security.
(a) All or a portion of this security is on loan.
 
     
REIT —
  Real Estate Investment Trust
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
 
 
 5

 

 
 Schwab U.S. Large-Cap Value ETF
 

 
Portfolio Holdings (Unaudited) continued
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $408,786,667       $—       $—       $408,786,667  
Other Investment Company1
    165,346       —       —       165,346  
                                 
Total
    $408,952,013       $—       $—       $408,952,013  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $579,289       $—       $—       $579,289  
 
     
1
  As categorized in Portfolio Holdings.
 
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
 
                                                                 
    Balance
 		      Change in
 		                  Balance
    as of
 		  Realized
 		  Unrealized
 		          Gross
 		  Gross
 		  as of
    August 31,
 		  Gains
 		  Gains
 		  Gross
 		  Gross
 		  Transfers
 		  Transfers
 		  November 30,
Investments in Securities
 
2011
 
(Losses)
 
(Losses)
 
Purchases
 
Sales
 
in
 
out
 
2012
 
Rights
    $—       ($129 )     $4,145       $6,910       ($10,926 )     $—       $—       $—  
                                                                 
Total
    $—       ($129 )     $4,145       $6,910       ($10,926 )     $—       $—       $—  
                                                                 
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG56690NOV12
 
 
 
6 

 

Schwab Strategic Trust
Schwab U.S. Mid-Cap ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  99 .8%   Common Stock     253,423,506       264,632,420  
  0 .1%   Other Investment Company     104,080       104,080  
 
 
  99 .9%   Total Investments     253,527,586       264,736,500  
  1 .2%   Collateral Invested for Securities on Loan     3,238,007       3,238,007  
  (1 .1)%   Other Assets and
Liabilities, Net 		            (2,859,753 )
 
 
  100 .0%   Net Assets             265,114,754  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 99.8% of net assets
 
Automobiles & Components 1.2%
Allison Transmission Holdings, Inc. (a)
    5,369       111,622  
Gentex Corp.
    23,265       412,954  
Lear Corp.
    15,633       682,693  
Tesla Motors, Inc. *(a)
    11,194       378,581  
The Goodyear Tire & Rubber Co. *
    38,214       481,496  
TRW Automotive Holdings Corp. *
    15,826       801,429  
Visteon Corp. *
    8,502       425,950  
                 
              3,294,725  
 
Banks 3.6%
Associated Banc-Corp.
    26,827       344,727  
Bank of Hawaii Corp.
    7,141       310,419  
BankUnited, Inc.
    7,305       171,668  
BOK Financial Corp.
    4,246       233,700  
Capitol Federal Financial, Inc.
    22,581       268,488  
City National Corp.
    7,334       357,092  
Commerce Bancshares, Inc.
    12,159       435,049  
Cullen/Frost Bankers, Inc.
    9,708       530,154  
East West Bancorp, Inc.
    22,195       469,424  
First Citizens BancShares, Inc., Class A
    868       143,220  
First Horizon National Corp.
    38,793       366,982  
First Niagara Financial Group, Inc.
    55,005       414,738  
First Republic Bank
    10,615       358,999  
Fulton Financial Corp.
    31,266       304,218  
Hancock Holding Co.
    13,510       424,484  
Hudson City Bancorp, Inc.
    74,112       597,343  
Huntington Bancshares, Inc.
    133,942       823,743  
Ocwen Financial Corp. *
    18,335       657,493  
People’s United Financial, Inc.
    54,812       668,158  
Prosperity Bancshares, Inc.
    6,755       277,833  
Signature Bank *
    7,467       523,885  
TFS Financial Corp. *
    12,545       103,120  
Valley National Bancorp
    31,666       302,094  
Zions Bancorp
    28,757       577,153  
                 
              9,664,184  
 
Capital Goods 10.8%
Acuity Brands, Inc.
    6,562       434,076  
Aecom Technology Corp. *
    18,335       414,188  
AGCO Corp. *
    15,247       703,649  
Air Lease Corp. *
    10,422       231,890  
Armstrong World Industries, Inc.
    3,489       176,229  
B/E Aerospace, Inc. *
    16,598       786,081  
Carlisle Cos., Inc.
    10,009       567,210  
CLARCOR, Inc.
    7,913       367,005  
Colfax Corp. *
    10,808       421,404  
Crane Co.
    7,527       319,446  
Donaldson Co., Inc.
    21,423       719,384  
Fortune Brands Home & Security, Inc. *
    25,090       752,449  
Foster Wheeler AG *
    16,791       377,126  
Gardner Denver, Inc.
    7,720       539,242  
Graco, Inc.
    9,457       467,270  
Hubbell, Inc., Class B
    8,492       715,451  
IDEX Corp.
    13,317       598,599  
Jacobs Engineering Group, Inc. *
    20,265       829,649  
KBR, Inc.
    22,967       638,483  
Kennametal, Inc.
    12,545       478,215  
Lennox International, Inc.
    7,334       385,695  
Lincoln Electric Holdings, Inc.
    13,124       623,521  
Masco Corp.
    55,777       945,978  
MRC Global, Inc. *
    3,618       101,413  
MSC Industrial Direct Co., Inc., Class A
    7,307       530,927  
Nordson Corp.
    8,878       543,245  
Oshkosh Corp. *
    14,692       431,210  
Owens Corning *
    18,813       650,554  
Pall Corp.
    18,142       1,079,086  
Pentair Ltd. - Reg’d
    33,003       1,600,315  
Quanta Services, Inc. *
    33,196       858,449  
Regal-Beloit Corp.
    6,562       457,699  
Sauer-Danfoss, Inc.
    1,809       95,027  
Seaboard Corp. *
    43       101,495  
Snap-On, Inc.
    9,071       720,600  
Spirit AeroSystems Holdings, Inc., Class A *
    17,177       270,538  
SPX Corp.
    7,913       539,034  
Terex Corp. *
    17,725       428,768  
The Babcock & Wilcox Co.
    18,528       466,720  
The Shaw Group, Inc. *
    10,229       459,589  
The Timken Co.
    12,545       565,152  
TransDigm Group, Inc.
    6,948       945,067  
Trinity Industries, Inc.
    12,352       392,423  
Triumph Group, Inc.
    7,720       506,509  
United Rentals, Inc. *
    14,861       617,177  
URS Corp.
    11,966       450,879  
Valmont Industries, Inc.
    3,748       523,446  
WABCO Holdings, Inc. *
    10,036       622,734  
 
 
 
 1

 

 
 Schwab U.S. Mid-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Wabtec Corp.
    7,527       636,935  
WESCO International, Inc. *
    6,755       436,711  
Woodward, Inc.
    9,507       347,671  
Xylem, Inc.
    28,950       755,305  
                 
              28,626,918  
 
Commercial & Professional Services 3.3%
Avery Dennison Corp.
    15,826       529,380  
Cintas Corp.
    16,791       695,819  
Clean Harbors, Inc. *
    7,334       420,091  
Copart, Inc. *
    16,984       513,087  
Corrections Corp. of America
    15,633       529,959  
Covanta Holding Corp.
    21,616       408,110  
Equifax, Inc.
    18,721       959,264  
Iron Mountain, Inc.
    25,460       804,536  
KAR Auction Services, Inc. *
    13,284       236,057  
Manpower, Inc.
    12,352       474,811  
Pitney Bowes, Inc. (a)
    32,231       360,665  
R.R. Donnelley & Sons Co. (a)
    29,206       274,536  
Robert Half International, Inc.
    22,195       627,231  
Rollins, Inc.
    10,229       232,914  
The Dun & Bradstreet Corp.
    6,948       550,143  
Towers Watson & Co., Class A
    8,940       472,747  
Waste Connections, Inc.
    19,381       638,022  
                 
              8,727,372  
 
Consumer Durables & Apparel 5.6%
Carter’s, Inc. *
    8,106       429,942  
D.R. Horton, Inc.
    43,782       851,998  
Deckers Outdoor Corp. *(a)
    5,790       221,699  
Fossil, Inc. *
    8,660       748,570  
Hanesbrands, Inc. *
    15,247       550,417  
Harman International Industries, Inc.
    10,422       412,294  
Hasbro, Inc.
    18,142       697,741  
Jarden Corp.
    11,773       622,909  
Leggett & Platt, Inc.
    22,002       612,756  
Lennar Corp., Class A
    25,476       969,107  
Mohawk Industries, Inc. *
    9,105       782,939  
Newell Rubbermaid, Inc.
    45,162       984,983  
NVR, Inc. *
    706       635,287  
Polaris Industries, Inc.
    10,011       849,033  
PulteGroup, Inc. *
    52,882       888,946  
PVH Corp.
    11,194       1,282,721  
Tempur-Pedic International, Inc. *
    9,264       246,886  
Toll Brothers, Inc. *
    23,353       743,560  
Tupperware Brands Corp.
    8,685       563,222  
Under Armour, Inc., Class A *
    12,159       630,201  
Whirlpool Corp.
    12,159       1,238,273  
                 
              14,963,484  
 
Consumer Services 2.4%
Apollo Group, Inc., Class A *
    16,019       307,405  
Bally Technologies, Inc. *
    6,562       296,209  
Brinker International, Inc.
    11,580       346,821  
Burger King Worldwide, Inc.
    9,843       168,709  
Choice Hotels International, Inc.
    4,632       150,540  
Dunkin’ Brands Group, Inc.
    11,387       362,334  
H&R Block, Inc.
    42,460       765,554  
International Game Technology
    41,688       578,213  
MGM Resorts International *
    57,707       585,726  
Panera Bread Co., Class A *
    4,439       712,459  
Penn National Gaming, Inc. *
    10,229       519,838  
Service Corp. International
    33,582       467,797  
Six Flags Entertainment Corp.
    8,299       510,222  
Sotheby’s
    10,615       306,349  
Weight Watchers International, Inc. (a)
    4,053       210,594  
                 
              6,288,770  
 
Diversified Financials 2.3%
Affiliated Managers Group, Inc. *
    8,000       1,030,960  
CBOE Holdings, Inc.
    14,089       422,388  
E*TRADE Financial Corp. *
    40,144       338,013  
Eaton Vance Corp.
    17,949       572,214  
Federated Investors, Inc., Class B (a)
    14,861       294,991  
Jefferies Group, Inc.
    20,072       340,421  
Legg Mason, Inc.
    18,721       477,947  
LPL Financial Holdings, Inc.
    5,597       156,772  
MSCI, Inc. *
    19,300       559,700  
Raymond James Financial, Inc.
    17,756       670,289  
SEI Investments Co.
    21,037       463,024  
The NASDAQ OMX Group, Inc.
    18,528       448,934  
Waddell & Reed Financial, Inc., Class A
    13,317       432,669  
                 
              6,208,322  
 
Energy 6.2%
Atwood Oceanics, Inc. *
    9,105       418,830  
Berry Petroleum Co., Class A
    7,334       228,161  
Cheniere Energy, Inc. *
    34,510       579,768  
Cimarex Energy Co.
    13,510       812,221  
Dresser-Rand Group, Inc. *
    11,773       621,732  
Dril-Quip, Inc. *
    5,790       407,442  
Energen Corp.
    11,194       498,469  
Helmerich & Payne, Inc.
    16,791       876,490  
Laredo Petroleum Holdings, Inc. *
    3,667       69,746  
McDermott International, Inc. *
    36,863       388,167  
Nabors Industries Ltd. *
    45,355       666,718  
Newfield Exploration Co. *
    21,037       512,041  
Oasis Petroleum, Inc. *
    11,316       341,970  
Oceaneering International, Inc.
    17,177       904,884  
Oil States International, Inc. *
    8,658       612,294  
Patterson-UTI Energy, Inc.
    23,739       421,605  
Plains Exploration & Production Co. *
    20,458       730,351  
QEP Resources, Inc.
    28,178       792,365  
Rosetta Resources, Inc. *
    8,299       372,957  
Rowan Cos. plc, Class A *
    19,493       618,513  
RPC, Inc. (a)
    10,229       118,247  
SandRidge Energy, Inc. *(a)
    54,426       318,392  
SEACOR Holdings, Inc. *
    3,088       279,773  
SM Energy Co.
    10,311       512,354  
Superior Energy Services, Inc. *
    24,511       497,818  
Teekay Corp.
    5,790       186,554  
Tesoro Corp.
    21,809       922,084  
Tidewater, Inc.
    7,720       346,319  
Ultra Petroleum Corp. *(a)
    23,932       479,837  
Unit Corp. *
    6,755       303,435  
Whiting Petroleum Corp. *
    18,335       768,970  
World Fuel Services Corp.
    11,194       436,006  
 
 
 
2 

 

 
 Schwab U.S. Mid-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
WPX Energy, Inc. *
    31,073       490,643  
                 
              16,535,156  
 
Food & Staples Retailing 0.5%
Safeway, Inc. (a)
    37,442       640,633  
The Fresh Market, Inc. *
    6,369       330,105  
United Natural Foods, Inc. *
    7,720       399,664  
                 
              1,370,402  
 
Food, Beverage & Tobacco 2.1%
Constellation Brands, Inc., Class A *
    22,967       824,056  
Dean Foods Co. *
    29,143       499,511  
Flowers Foods, Inc.
    18,142       427,063  
Green Mountain Coffee Roasters, Inc. *(a)
    20,072       736,040  
Hillshire Brands Co.
    18,528       516,005  
Ingredion, Inc.
    11,966       777,192  
Ralcorp Holdings, Inc. *
    8,660       771,952  
Smithfield Foods, Inc. *
    21,230       474,915  
The Hain Celestial Group, Inc. *
    7,116       428,881  
WhiteWave Foods Co., Class A *
    4,246       64,412  
                 
              5,520,027  
 
Health Care Equipment & Services 4.8%
Allscripts Healthcare Solutions, Inc. *
    26,634       296,170  
AMERIGROUP Corp. *
    7,527       691,129  
athenahealth, Inc. *
    5,597       356,473  
Brookdale Senior Living, Inc. *
    15,247       389,713  
Community Health Systems, Inc. *
    14,089       415,062  
Coventry Health Care, Inc.
    20,844       910,466  
DENTSPLY International, Inc.
    22,195       881,141  
Health Net, Inc. *
    13,281       312,768  
HMS Holdings Corp. *
    13,758       318,773  
Hologic, Inc. *
    41,302       788,042  
IDEXX Laboratories, Inc. *
    8,660       809,450  
LifePoint Hospitals, Inc. *
    7,869       283,127  
MEDNAX, Inc. *
    7,720       609,880  
Omnicare, Inc.
    17,370       629,489  
Owens & Minor, Inc.
    10,311       282,315  
Patterson Cos., Inc.
    13,124       447,528  
ResMed, Inc.
    22,195       911,993  
Sirona Dental Systems, Inc. *
    8,878       555,852  
STERIS Corp.
    9,457       323,146  
Teleflex, Inc.
    6,369       440,735  
Tenet Healthcare Corp. *
    16,753       485,167  
The Cooper Cos., Inc.
    7,527       714,613  
Universal Health Services, Inc., Class B
    13,703       617,594  
WellCare Health Plans, Inc. *
    6,755       326,064  
                 
              12,796,690  
 
Household & Personal Products 0.5%
Energizer Holdings, Inc.
    10,036       800,471  
Nu Skin Enterprises, Inc., Class A
    8,492       385,537  
                 
              1,186,008  
 
Insurance 6.1%
Alleghany Corp. *
    2,623       920,673  
Allied World Assurance Co. Holdings AG
    5,765       467,945  
American Financial Group, Inc.
    12,352       489,757  
American National Insurance Co.
    1,158       79,890  
Arch Capital Group Ltd. *
    21,589       973,664  
Arthur J. Gallagher & Co.
    18,914       690,739  
Aspen Insurance Holdings Ltd.
    11,387       356,413  
Assurant, Inc.
    12,738       435,767  
Assured Guaranty Ltd.
    30,301       422,699  
Axis Capital Holdings Ltd.
    18,528       666,452  
Brown & Brown, Inc.
    18,335       492,111  
Cincinnati Financial Corp.
    23,133       937,349  
Erie Indemnity Co., Class A
    4,053       288,898  
Everest Re Group Ltd.
    8,106       879,258  
Fidelity National Financial, Inc., Class A
    33,003       799,003  
Genworth Financial, Inc., Class A *
    76,814       457,043  
HCC Insurance Holdings, Inc.
    15,992       589,785  
Markel Corp. *
    1,406       673,474  
Mercury General Corp.
    5,597       232,947  
Old Republic International Corp.
    37,828       396,816  
PartnerRe Ltd.
    10,036       831,784  
ProAssurance Corp.
    4,753       431,002  
Reinsurance Group of America, Inc.
    11,580       592,896  
RenaissanceRe Holdings Ltd.
    7,913       654,880  
Torchmark Corp.
    14,861       772,623  
Validus Holdings Ltd.
    16,212       574,878  
W.R. Berkley Corp.
    17,370       690,458  
White Mountains Insurance Group Ltd.
    850       437,971  
                 
              16,237,175  
 
Materials 7.7%
Airgas, Inc.
    11,001       974,359  
Albemarle Corp.
    14,255       852,306  
Allegheny Technologies, Inc.
    16,791       439,588  
Allied Nevada Gold Corp. *
    12,738       414,622  
AptarGroup, Inc.
    10,422       496,817  
Ashland, Inc.
    11,387       807,566  
Bemis Co., Inc.
    16,019       538,238  
Cabot Corp.
    9,264       349,531  
Coeur d’Alene Mines Corp. *
    14,089       327,710  
Compass Minerals International, Inc.
    5,211       398,120  
Cytec Industries, Inc.
    7,141       490,158  
Domtar Corp.
    5,597       448,376  
Greif, Inc., Class A
    4,825       197,970  
Huntsman Corp.
    30,494       501,321  
International Flavors & Fragrances, Inc.
    12,738       828,352  
Kronos Worldwide, Inc. (a)
    3,152       50,779  
Martin Marietta Materials, Inc.
    7,141       642,690  
MeadWestvaco Corp.
    27,570       852,189  
NewMarket Corp.
    1,654       438,889  
Owens-Illinois, Inc. *
    25,862       518,016  
Packaging Corp. of America
    15,247       555,601  
Reliance Steel & Aluminum Co.
    11,773       663,997  
Rock-Tenn Co., Class A
    11,169       726,432  
Rockwood Holdings, Inc.
    12,159       557,733  
 
 
 
 3

 

 
 Schwab U.S. Mid-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Royal Gold, Inc.
    9,927       801,705  
RPM International, Inc.
    20,651       599,085  
Sealed Air Corp.
    30,494       512,909  
Silgan Holdings, Inc.
    7,668       341,073  
Sonoco Products Co.
    15,633       470,084  
Steel Dynamics, Inc.
    34,161       441,360  
The Scotts Miracle-Gro Co., Class A
    5,983       248,055  
The Valspar Corp.
    13,483       846,463  
Titanium Metals Corp.
    11,387       189,252  
Tronox Ltd., Class A
    4,053       62,740  
United States Steel Corp. (a)
    22,581       486,846  
Valhi, Inc.
    3,088       37,180  
Vulcan Materials Co.
    20,458       1,081,001  
W.R. Grace & Co. *
    11,001       720,235  
Walter Energy, Inc.
    10,110       305,322  
Westlake Chemical Corp.
    3,216       232,871  
                 
              20,447,541  
 
Media 1.6%
AMC Networks, Inc., Class A *
    9,264       488,769  
Cablevision Systems Corp., Class A
    33,775       467,446  
Clear Channel Outdoor Holdings, Inc., Class A *
    6,522       42,393  
Gannett Co., Inc.
    36,091       646,029  
John Wiley & Sons, Inc., Class A
    7,334       313,162  
Lamar Advertising Co., Class A *
    8,685       341,060  
Morningstar, Inc.
    3,667       234,065  
Regal Entertainment Group, Class A (a)
    12,738       198,458  
The Interpublic Group of Cos., Inc.
    68,129       737,156  
The Madison Square Garden Co., Class A *
    9,457       414,216  
The Washington Post Co., Class B
    689       252,904  
                 
              4,135,658  
 
Pharmaceuticals, Biotechnology & Life Sciences 3.8%
ARIAD Pharmaceuticals, Inc. *
    26,601       594,798  
Bio-Rad Laboratories, Inc., Class A *
    3,216       336,040  
BioMarin Pharmaceutical, Inc. *
    19,493       947,360  
Bruker Corp. *
    14,964       218,474  
Charles River Laboratories International, Inc. *
    7,527       288,811  
Covance, Inc. *
    8,685       495,132  
Cubist Pharmaceuticals, Inc. *
    9,843       399,724  
Endo Health Solutions, Inc. *
    18,335       525,481  
Illumina, Inc. *
    19,107       1,026,237  
Medivation, Inc. *
    11,580       603,897  
Mettler-Toledo International, Inc. *
    4,825       902,709  
Onyx Pharmaceuticals, Inc. *
    10,229       771,983  
PerkinElmer, Inc.
    17,756       561,978  
Pharmacyclics, Inc. *
    7,720       409,546  
Salix Pharmaceuticals Ltd. *
    7,720       330,802  
Seattle Genetics, Inc. *
    16,183       409,592  
Techne Corp.
    5,404       383,144  
United Therapeutics Corp. *
    7,668       402,953  
Warner Chilcott plc, Class A
    28,320       330,211  
                 
              9,938,872  
 
Real Estate 9.1%
Alexandria Real Estate Equities, Inc.
    9,843       668,537  
American Campus Communities, Inc.
    16,405       718,539  
Apartment Investment & Management Co., Class A
    23,160       580,621  
BioMed Realty Trust, Inc.
    23,932       461,170  
BRE Properties, Inc.
    11,966       582,146  
Camden Property Trust
    13,054       857,648  
CBL & Associates Properties, Inc.
    24,704       556,087  
CBRE Group, Inc., Class A *
    47,092       891,452  
Chimera Investment Corp.
    160,769       440,507  
DDR Corp.
    37,056       567,327  
Douglas Emmett, Inc.
    20,265       460,218  
Duke Realty Corp.
    42,074       567,999  
Equity Lifestyle Properties, Inc.
    6,176       405,393  
Essex Property Trust, Inc.
    5,716       803,041  
Extra Space Storage, Inc.
    16,019       563,068  
Federal Realty Investment Trust
    10,036       1,044,145  
Hatteras Financial Corp.
    15,247       406,485  
Healthcare Trust of America, Inc.
    9,374       100,958  
Highwoods Properties, Inc.
    12,007       387,106  
Home Properties, Inc.
    7,869       463,405  
Hospitality Properties Trust
    19,300       438,110  
Jones Lang LaSalle, Inc.
    6,948       569,805  
Kilroy Realty Corp.
    11,580       522,258  
Liberty Property Trust
    18,335       638,608  
Mack-Cali Realty Corp.
    13,124       331,775  
MFA Financial, Inc.
    55,970       470,708  
Mid-America Apartment Communities, Inc.
    6,369       396,916  
National Retail Properties, Inc.
    17,177       527,677  
OMEGA Healthcare Investors, Inc.
    17,563       402,544  
Piedmont Office Realty Trust, Inc., Class A
    26,248       463,277  
Rayonier, Inc.
    19,466       970,185  
Realogy Holdings Corp. *
    7,141       269,287  
Realty Income Corp.
    20,844       847,934  
Regency Centers Corp.
    14,089       660,070  
Retail Properties of America, Inc., Class A
    5,020       61,646  
Senior Housing Properties Trust
    27,599       616,838  
SL Green Realty Corp.
    14,089       1,062,029  
Tanger Factory Outlet Centers
    14,668       482,284  
Taubman Centers, Inc.
    9,650       747,585  
Two Harbors Investment Corp.
    44,969       509,049  
UDR, Inc.
    39,725       914,072  
Washington REIT
    10,808       280,143  
Weingarten Realty Investors
    17,370       472,117  
                 
              24,180,769  
 
Retailing 5.8%
Aaron’s, Inc.
    11,001       315,729  
Abercrombie & Fitch Co., Class A
    12,931       593,404  
Advance Auto Parts, Inc.
    11,580       847,077  
American Eagle Outfitters, Inc.
    27,985       593,282  
Ascena Retail Group, Inc. *
    19,107       384,051  
AutoNation, Inc. *
    6,222       242,285  
Big Lots, Inc. *
    9,264       260,874  
Cabela’s, Inc. *
    7,141       341,125  
Chico’s FAS, Inc.
    25,862       482,326  
 
 
 
4 

 

 
 Schwab U.S. Mid-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Dick’s Sporting Goods, Inc.
    15,413       809,337  
Dillard’s, Inc., Class A
    4,825       428,991  
Expedia, Inc.
    14,668       907,362  
Foot Locker, Inc.
    23,546       843,889  
GameStop Corp., Class A (a)
    19,300       506,625  
GNC Holdings, Inc., Class A
    11,744       412,567  
Groupon, Inc. *(a)
    41,881       175,481  
Guess?, Inc.
    9,650       249,645  
HomeAway, Inc. *
    5,597       114,626  
LKQ Corp. *
    46,513       1,019,565  
Netflix, Inc. *(a)
    8,685       709,651  
Sally Beauty Holdings, Inc. *
    24,511       621,354  
Signet Jewelers Ltd.
    12,738       684,667  
Tractor Supply Co.
    11,194       1,003,206  
TripAdvisor, Inc. *
    17,177       655,990  
Ulta Salon, Cosmetics & Fragrance, Inc.
    9,264       928,994  
Urban Outfitters, Inc. *
    16,984       640,297  
Williams-Sonoma, Inc.
    13,510       611,463  
                 
              15,383,863  
 
Semiconductors & Semiconductor Equipment 1.8%
Advanced Micro Devices, Inc. *(a)
    94,959       208,910  
Atmel Corp. *
    68,708       384,078  
Cree, Inc. *
    18,142       586,168  
Cypress Semiconductor Corp. *
    21,230       215,484  
First Solar, Inc. *(a)
    10,003       269,981  
Lam Research Corp. *
    26,827       942,164  
LSI Corp. *
    87,043       586,670  
ON Semiconductor Corp. *
    71,024       470,889  
Skyworks Solutions, Inc. *
    29,915       677,575  
Teradyne, Inc. *
    29,143       455,796  
                 
              4,797,715  
 
Software & Services 6.9%
Akamai Technologies, Inc. *
    28,149       1,030,816  
Alliance Data Systems Corp. *
    7,788       1,109,712  
ANSYS, Inc. *
    14,475       960,127  
AOL, Inc. *
    13,124       492,412  
Booz Allen Hamilton Holding Corp.
    5,790       81,118  
Broadridge Financial Solutions, Inc.
    20,072       473,900  
Cadence Design Systems, Inc. *
    43,039       547,886  
Computer Sciences Corp.
    24,318       925,543  
Compuware Corp. *
    33,582       313,992  
Concur Technologies, Inc. *
    7,141       469,235  
DST Systems, Inc.
    4,825       278,113  
Electronic Arts, Inc. *
    49,601       734,591  
FactSet Research Systems, Inc.
    6,562       606,263  
FleetCor Technologies, Inc. *
    6,369       332,398  
Fortinet, Inc. *
    21,037       420,319  
Gartner, Inc. *
    14,861       711,545  
Genpact Ltd.
    20,844       334,546  
Global Payments, Inc.
    12,352       542,376  
IAC/InterActiveCorp
    12,545       591,497  
Informatica Corp. *
    16,984       456,360  
Jack Henry & Associates, Inc.
    13,510       525,134  
Lender Processing Services, Inc.
    13,317       330,927  
MICROS Systems, Inc. *
    12,545       545,206  
NetSuite, Inc. *
    4,246       253,147  
NeuStar, Inc., Class A *
    10,642       427,808  
Parametric Technology Corp. *
    18,528       375,007  
SAIC, Inc.
    44,197       509,591  
ServiceNow, Inc. *(a)
    1,809       59,028  
SolarWinds, Inc. *
    9,507       532,677  
Solera Holdings, Inc.
    11,001       569,412  
Splunk, Inc. *
    4,053       122,401  
Synopsys, Inc. *
    23,353       765,978  
TIBCO Software, Inc. *
    24,482       613,274  
Total System Services, Inc.
    25,283       554,962  
Vantiv, Inc., Class A *
    6,562       142,199  
VeriFone Systems, Inc. *
    16,791       510,279  
                 
              18,249,779  
 
Technology Hardware & Equipment 3.6%
Anixter International, Inc.
    4,246       259,346  
Arrow Electronics, Inc. *
    16,984       632,824  
Avnet, Inc. *
    22,002       644,439  
AVX Corp.
    8,212       83,762  
Brocade Communications Systems, Inc. *
    73,272       416,185  
Diebold, Inc.
    9,843       294,404  
Dolby Laboratories, Inc., Class A *
    7,720       257,616  
EchoStar Corp., Class A *
    6,576       206,223  
FLIR Systems, Inc.
    23,546       480,338  
Harris Corp.
    17,563       827,744  
Ingram Micro, Inc., Class A *
    23,353       378,319  
IPG Photonics Corp. *
    4,439       262,345  
Jabil Circuit, Inc.
    29,143       553,717  
JDS Uniphase Corp. *
    36,091       437,784  
Molex, Inc.
    21,616       570,230  
National Instruments Corp.
    14,668       356,726  
NCR Corp. *
    24,897       595,785  
Palo Alto Networks, Inc. *(a)
    804       43,754  
Polycom, Inc. *
    28,950       302,817  
Riverbed Technology, Inc. *
    24,125       431,837  
Trimble Navigation Ltd. *
    19,879       1,106,068  
Zebra Technologies Corp., Class A *
    8,106       315,729  
                 
              9,457,992  
 
Telecommunication Services 1.6%
Clearwire Corp., Class A *
    68,708       159,403  
Frontier Communications Corp. (a)
    155,944       750,091  
Level 3 Communications, Inc. *
    24,897       469,557  
MetroPCS Communications, Inc. *
    49,987       532,361  
SBA Communications Corp., Class A *
    19,082       1,313,223  
Telephone & Data Systems, Inc.
    16,372       376,720  
tw telecom, Inc. *
    23,546       604,897  
United States Cellular Corp. *
    2,123       73,986  
                 
              4,280,238  
 
Transportation 1.5%
Hertz Global Holdings, Inc. *
    47,630       744,933  
J.B. Hunt Transport Services, Inc.
    14,089       837,591  
Kirby Corp. *
    8,685       502,688  
Landstar System, Inc.
    7,334       370,880  
Ryder System, Inc.
    8,301       390,728  
United Continental Holdings, Inc. *
    51,917       1,049,762  
                 
              3,896,582  
 
 
 
 5

 

 
 Schwab U.S. Mid-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Utilities 7.0%
AGL Resources, Inc.
    18,335       714,698  
Alliant Energy Corp.
    17,370       778,523  
American Water Works Co., Inc.
    27,599       1,053,454  
Aqua America, Inc.
    21,809       557,002  
Atmos Energy Corp.
    14,089       493,256  
Cleco Corp.
    9,457       381,023  
CMS Energy Corp.
    41,495       1,013,723  
GenOn Energy, Inc. *
    124,716       318,026  
Great Plains Energy, Inc.
    24,511       496,348  
Hawaiian Electric Industries, Inc.
    15,600       388,596  
IDACORP, Inc.
    8,070       344,670  
Integrys Energy Group, Inc.
    12,159       646,494  
ITC Holdings Corp.
    8,106       636,726  
MDU Resources Group, Inc.
    30,108       623,838  
National Fuel Gas Co.
    13,317       693,549  
NiSource, Inc.
    48,636       1,175,532  
NRG Energy, Inc.
    35,512       749,303  
NV Energy, Inc.
    36,863       675,699  
OGE Energy Corp.
    15,440       882,087  
Pepco Holdings, Inc.
    35,705       704,817  
Piedmont Natural Gas Co., Inc.
    11,194       345,447  
Pinnacle West Capital Corp.
    17,177       883,928  
Questar Corp.
    27,406       537,706  
SCANA Corp.
    20,651       956,967  
TECO Energy, Inc.
    31,845       535,314  
UGI Corp.
    17,563       583,443  
Vectren Corp.
    13,155       384,784  
Westar Energy, Inc.
    19,686       564,988  
WGL Holdings, Inc.
    8,301       324,237  
                 
              18,444,178  
                 
Total Common Stock
(Cost $253,423,506)     264,632,420  
         
                 
                 
 
 Other Investment Company 0.1% of net assets
 
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund
    104,080       104,080  
                 
Total Other Investment Company
(Cost $104,080)     104,080  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 1.2% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    3,238,007       3,238,007  
                 
Total Collateral Invested for Securities on Loan
(Cost $3,238,007)     3,238,007  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $253,836,690 and the unrealized appreciation and depreciation were $22,068,576 and ($11,168,766), respectively, with a net unrealized appreciation of $10,899,810.
 
* Non-income producing security.
(a) All or a portion of this security is on loan.
 
     
Reg’d —
  Registered
REIT —
  Real Estate Investment Trust
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ
 
 
 
6 

 

 
 Schwab U.S. Mid-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
  techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $264,632,420       $—       $—       $264,632,420  
Other Investment Company1
    104,080       —       —       104,080  
                                 
Total
    $264,736,500       $—       $—       $264,736,500  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $3,238,007       $—       $—       $3,238,007  
 
     
1
  As categorized in Portfolio Holdings.
 
 
 
 7

 

 
 Schwab U.S. Mid-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG65851NOV12
 
 
 
8 

 

Schwab Strategic Trust
Schwab U.S. Small-Cap ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  99 .6%   Common Stock     674,198,851       692,676,850  
  0 .0%   Rights     —       16,927  
  0 .1%   Other Investment Company     754,449       754,449  
 
 
  99 .7%   Total Investments     674,953,300       693,448,226  
  2 .9%   Collateral Invested for Securities on Loan     20,364,634       20,364,634  
  (2 .6)%   Other Assets and
Liabilities, Net 		            (18,579,858 )
 
 
  100 .0%   Net Assets             695,233,002  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 99.6% of net assets
 
Automobiles & Components 1.1%
American Axle & Manufacturing Holdings, Inc. *
    29,936       313,131  
Cooper Tire & Rubber Co.
    27,721       692,471  
Dana Holding Corp.
    64,605       916,099  
Dorman Products, Inc. *
    11,614       397,199  
Drew Industries, Inc. *
    8,622       279,870  
Exide Technologies *
    33,036       95,474  
Federal-Mogul Corp. *
    8,270       65,002  
Fuel Systems Solutions, Inc. *
    5,895       89,074  
Modine Manufacturing Co. *
    20,470       151,478  
Standard Motor Products, Inc.
    9,229       180,519  
Superior Industries International, Inc.
    10,680       202,279  
Tenneco, Inc. *
    26,382       846,071  
Tesla Motors, Inc. *(a)
    30,959       1,047,033  
Thor Industries, Inc.
    19,291       728,042  
Tower International, Inc. *
    2,854       22,404  
Visteon Corp. *
    22,452       1,124,845  
Winnebago Industries, Inc. *
    13,078       185,969  
                 
              7,336,960  
 
Banks 7.2%
1st Source Corp.
    2,358       49,872  
Arrow Financial Corp. (a)
    5,109       126,039  
Associated Banc-Corp.
    74,840       961,694  
Astoria Financial Corp.
    35,848       334,462  
BancFirst Corp.
    2,751       116,505  
BancorpSouth, Inc.
    36,572       483,848  
Bank Mutual Corp.
    20,754       86,129  
Bank of Hawaii Corp.
    19,684       855,663  
Bank of the Ozarks, Inc.
    12,281       390,290  
BankFinancial Corp.
    7,719       54,651  
BankUnited, Inc.
    20,077       471,809  
Banner Corp.
    7,484       224,894  
BBCN Bancorp, Inc.
    33,866       385,395  
Beneficial Mutual Bancorp, Inc. *
    14,182       132,885  
Berkshire Hills Bancorp, Inc.
    12,285       283,292  
Boston Private Financial Holdings, Inc.
    34,756       320,798  
Brookline Bancorp, Inc.
    31,366       265,356  
Camden National Corp.
    3,381       117,287  
Capital Bank Financial Corp., Class A *
    4,441       76,652  
Capital City Bank Group, Inc. *
    5,970       64,715  
CapitalSource, Inc.
    98,488       792,828  
Capitol Federal Financial, Inc.
    63,426       754,135  
Cardinal Financial Corp.
    12,488       187,320  
Cascade Bancorp *(a)
    2,751       14,085  
Cathay General Bancorp
    32,294       578,063  
Centerstate Banks, Inc.
    12,289       96,592  
Central Pacific Financial Corp. *
    12,593       185,999  
Chemical Financial Corp.
    13,055       284,207  
Citizens Republic Bancorp, Inc. *
    17,919       336,340  
City Holding Co.
    6,581       221,122  
Clifton Savings Bancorp, Inc.
    3,537       37,881  
CoBiz Financial, Inc.
    16,687       117,143  
Columbia Banking System, Inc.
    17,490       301,877  
Community Bank System, Inc.
    17,326       465,723  
Community Trust Bancorp, Inc.
    6,186       202,530  
CVB Financial Corp.
    38,599       392,166  
Dime Community Bancshares, Inc.
    12,593       175,672  
Doral Financial Corp. *
    52,978       36,025  
East West Bancorp, Inc.
    61,837       1,307,853  
ESSA Bancorp, Inc.
    4,731       47,263  
EverBank Financial Corp.
    12,309       181,927  
F.N.B. Corp.
    62,358       673,466  
First Bancorp *
    36,895       198,764  
First Busey Corp.
    33,473       153,641  
First Citizens BancShares, Inc., Class A
    2,358       389,070  
First Commonwealth Financial Corp.
    46,511       298,136  
First Community Bancshares, Inc.
    6,532       100,593  
First Financial Bancorp
    25,761       374,307  
First Financial Bankshares, Inc. (a)
    12,986       505,285  
First Financial Corp.
    4,920       147,600  
First Financial Holdings, Inc.
    7,278       98,180  
First Horizon National Corp.
    108,330       1,024,802  
First Interstate BancSystem, Inc.
    9,332       142,593  
First Merchants Corp.
    12,422       168,691  
First Midwest Bancorp, Inc.
    33,391       417,388  
First Niagara Financial Group, Inc.
    154,430       1,164,402  
FirstMerit Corp.
    47,655       670,982  
Flagstar Bancorp, Inc. *
    8,876       162,076  
Flushing Financial Corp.
    12,593       188,391  
Fulton Financial Corp.
    87,450       850,888  
Glacier Bancorp, Inc.
    32,017       465,207  
Great Southern Bancorp, Inc.
    4,150       104,580  
Hancock Holding Co.
    37,027       1,163,388  
Heartland Financial USA, Inc.
    6,781       177,459  
 
 
 
 1

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Home BancShares, Inc.
    10,235       339,393  
HomeTrust Bancshares, Inc. *
    9,056       116,279  
Hudson Valley Holding Corp.
    7,768       122,268  
IBERIABANK Corp.
    13,072       637,260  
Independent Bank Corp.
    9,496       272,535  
International Bancshares Corp.
    23,631       427,721  
Investors Bancorp, Inc.
    20,612       352,877  
Kearny Financial Corp.
    7,311       67,115  
Lakeland Financial Corp.
    6,782       167,787  
MB Financial, Inc.
    24,252       471,459  
Meridian Interstate Bancorp, Inc. *
    4,433       72,923  
MGIC Investment Corp. *
    83,565       146,239  
National Bank Holdings Corp., Class A
    3,331       61,024  
National Penn Bancshares, Inc.
    53,174       503,558  
Nationstar Mortgage Holdings, Inc. *(a)
    7,091       217,126  
NBT Bancorp, Inc.
    14,749       291,588  
Northfield Bancorp, Inc.
    7,015       107,119  
Northwest Bancshares, Inc.
    43,427       518,084  
Ocwen Financial Corp. *
    50,423       1,808,169  
Old National Bancorp
    42,188       495,287  
Oriental Financial Group, Inc.
    17,719       213,337  
Oritani Financial Corp.
    16,933       247,222  
PacWest Bancorp
    13,924       346,847  
Park National Corp. (a)
    5,502       347,121  
Pinnacle Financial Partners, Inc. *
    14,182       269,883  
Popular, Inc. *
    44,904       887,752  
PrivateBancorp, Inc.
    28,324       464,230  
Prosperity Bancshares, Inc.
    18,898       777,275  
Provident Financial Services, Inc.
    23,631       342,413  
Provident New York Bancorp
    16,485       149,354  
Radian Group, Inc.
    59,506       260,636  
Renasant Corp.
    11,132       205,051  
Republic Bancorp, Inc., Class A (a)
    4,539       92,913  
Rockville Financial, Inc.
    12,593       163,457  
Roma Financial Corp.
    3,462       29,289  
S&T Bancorp, Inc.
    12,593       213,703  
S.Y. Bancorp, Inc.
    5,511       121,958  
Sandy Spring Bancorp, Inc.
    10,768       202,869  
SCBT Financial Corp.
    6,717       260,284  
Signature Bank *
    20,470       1,436,175  
Simmons First National Corp., Class A
    7,224       172,003  
Southside Bancshares, Inc.
    6,681       139,833  
State Bank Financial Corp.
    13,772       216,771  
StellarOne Corp.
    10,239       132,083  
Sterling Bancorp
    13,710       127,503  
Sterling Financial Corp.
    12,200       250,954  
Susquehanna Bancshares, Inc.
    81,538       838,211  
SVB Financial Group *
    19,291       1,065,249  
Synovus Financial Corp.
    342,726       812,261  
Taylor Capital Group, Inc. *
    6,288       110,669  
TCF Financial Corp.
    70,910       842,411  
Territorial Bancorp, Inc.
    4,502       102,421  
Texas Capital Bancshares, Inc. *
    17,326       780,363  
Tompkins Financial Corp.
    5,109       199,200  
TowneBank (a)
    13,219       199,739  
TriCo Bancshares
    5,502       87,372  
TrustCo Bank Corp.
    41,556       219,000  
Trustmark Corp.
    27,954       621,138  
UMB Financial Corp.
    14,182       601,033  
Umpqua Holdings Corp.
    48,834       569,404  
Union First Market Bankshares Corp.
    8,663       132,457  
United Bankshares, Inc. (a)
    20,077       495,902  
United Financial Bancorp, Inc.
    6,409       99,660  
Univest Corp. of Pennsylvania
    7,413       124,687  
Valley National Bancorp
    87,330       833,128  
ViewPoint Financial Group, Inc.
    15,978       326,750  
Washington Federal, Inc.
    46,476       746,869  
Washington Trust Bancorp, Inc.
    6,497       163,854  
Webster Financial Corp.
    31,508       655,997  
WesBanco, Inc.
    11,071       233,709  
Westamerica Bancorp
    12,200       519,232  
Western Alliance Bancorp *
    30,329       308,143  
Westfield Financial, Inc.
    9,449       65,860  
Wilshire Bancorp, Inc. *
    29,324       169,786  
Wintrust Financial Corp.
    15,754       579,590  
WSFS Financial Corp.
    3,764       163,358  
                 
              50,093,056  
 
Capital Goods 12.2%
A.O. Smith Corp.
    16,933       1,065,932  
AAON, Inc.
    7,877       165,811  
AAR Corp.
    18,324       281,457  
Accuride Corp. *
    19,358       59,429  
Aceto Corp.
    11,601       115,662  
Actuant Corp., Class A
    31,901       917,792  
Acuity Brands, Inc.
    18,505       1,224,106  
Aecom Technology Corp. *
    49,244       1,112,422  
Aegion Corp. *
    17,451       359,840  
Aerovironment, Inc. *
    7,714       157,443  
Air Lease Corp. *
    29,150       648,588  
Aircastle Ltd.
    25,596       291,027  
Albany International Corp., Class A
    11,943       256,894  
Alliant Techsystems, Inc.
    14,182       850,920  
Altra Holdings, Inc.
    11,861       223,105  
Ameresco, Inc., Class A *
    8,165       76,751  
American Railcar Industries, Inc. *
    4,112       126,362  
American Science & Engineering, Inc.
    3,537       225,944  
American Superconductor Corp. *
    16,282       45,264  
American Woodmark Corp. *
    4,566       129,720  
Ampco-Pittsburgh Corp.
    3,692       69,151  
API Technologies Corp. *
    15,067       39,626  
Apogee Enterprises, Inc.
    12,412       284,483  
Applied Industrial Technologies, Inc.
    18,112       725,023  
Armstrong World Industries, Inc.
    9,587       484,239  
Astec Industries, Inc.
    10,076       291,700  
Astronics Corp. *
    3,930       78,993  
AZZ, Inc.
    11,057       421,493  
Barnes Group, Inc.
    20,470       431,712  
Beacon Roofing Supply, Inc. *
    20,549       633,731  
Belden, Inc.
    19,684       741,693  
Blount International, Inc. *
    21,572       307,832  
Brady Corp., Class A
    20,896       667,418  
Briggs & Stratton Corp.
    20,863       423,310  
Builders FirstSource, Inc. *
    24,618       128,014  
CAI International, Inc. *
    5,652       113,040  
Capstone Turbine Corp. *(a)
    140,994       136,172  
Carlisle Cos., Inc.
    27,168       1,539,611  
Cascade Corp.
    3,537       229,799  
 
 
 
2 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Chart Industries, Inc. *
    13,079       791,018  
CIRCOR International, Inc.
    7,780       281,169  
CLARCOR, Inc.
    22,059       1,023,096  
Colfax Corp. *
    29,150       1,136,559  
Columbus McKinnon Corp. *
    8,551       127,923  
Comfort Systems USA, Inc.
    17,092       184,765  
Commercial Vehicle Group, Inc. *
    11,481       91,963  
Crane Co.
    20,863       885,426  
Cubic Corp.
    7,112       348,132  
Curtiss-Wright Corp.
    20,733       657,858  
DigitalGlobe, Inc. *
    20,470       510,522  
Douglas Dynamics, Inc.
    9,449       135,877  
Ducommun, Inc. *
    4,934       77,316  
DXP Enterprises, Inc. *
    4,127       199,293  
Dycom Industries, Inc. *
    14,883       267,299  
Dynamic Materials Corp.
    5,970       83,520  
Edgen Group, Inc. *
    16,933       117,684  
EMCOR Group, Inc.
    29,150       957,578  
Encore Wire Corp.
    8,403       263,350  
Energy Recovery, Inc. *
    16,540       51,605  
EnerSys, Inc. *
    20,863       726,867  
Enphase Energy, Inc. *(a)
    3,537       9,868  
EnPro Industries, Inc. *
    9,144       359,176  
ESCO Technologies, Inc.
    11,643       427,298  
Esterline Technologies Corp. *
    13,525       826,919  
Exelis, Inc.
    81,538       921,379  
Federal Signal Corp. *
    28,109       165,281  
Foster Wheeler AG *
    46,869       1,052,678  
Franklin Electric Co., Inc.
    8,270       492,561  
FreightCar America, Inc.
    5,511       115,896  
FuelCell Energy, Inc. *
    63,758       54,832  
Furmanite Corp. *
    15,770       69,861  
GATX Corp.
    20,470       862,401  
GenCorp, Inc. *
    30,150       277,380  
Generac Holdings, Inc.
    11,021       359,615  
General Cable Corp. *
    21,666       622,031  
GeoEye, Inc. *
    10,235       312,782  
Gibraltar Industries, Inc. *
    12,593       174,665  
Global Power Equipment Group, Inc.
    7,484       112,410  
Graco, Inc.
    26,382       1,303,535  
GrafTech International Ltd. *
    55,532       538,660  
Graham Corp.
    4,457       80,092  
Granite Construction, Inc.
    15,209       465,395  
Great Lakes Dredge & Dock Corp.
    25,341       223,761  
Greenbrier Cos., Inc. *
    10,849       207,324  
Griffon Corp.
    19,684       204,320  
H&E Equipment Services, Inc.
    12,200       189,710  
Harsco Corp.
    35,062       706,499  
HEICO Corp., Class A
    19,924       669,446  
Hexcel Corp. *
    43,725       1,130,291  
Houston Wire & Cable Co.
    7,013       78,686  
Huntington Ingalls Industries, Inc.
    21,666       885,056  
Hyster-Yale Materials Handling, Inc.
    3,255       135,017  
IDEX Corp.
    36,241       1,629,033  
II-VI, Inc. *
    23,467       401,520  
ITT Corp.
    40,564       907,417  
John Bean Technologies Corp.
    12,718       207,176  
Kaman Corp.
    11,414       413,643  
Kaydon Corp.
    14,315       329,674  
Kennametal, Inc.
    35,062       1,336,563  
L.B. Foster Co.
    3,930       162,899  
Layne Christensen Co. *
    8,663       199,162  
Lennox International, Inc.
    20,077       1,055,849  
Lindsay Corp.
    5,540       438,159  
MasTec, Inc. *
    23,499       536,717  
Meritor, Inc. *
    42,771       183,060  
Michael Baker Corp.
    3,690       71,771  
Moog, Inc., Class A *
    19,684       723,584  
MRC Global, Inc. *
    10,235       286,887  
Mueller Industries, Inc.
    12,274       586,206  
Mueller Water Products, Inc., Class A
    69,260       386,471  
MYR Group, Inc. *
    9,125       195,640  
National Presto Industries, Inc. (a)
    2,095       160,812  
Navistar International Corp. *
    33,976       693,450  
Nordson Corp.
    24,810       1,518,124  
Nortek, Inc. *
    6,681       436,203  
Northwest Pipe Co. *
    4,111       84,687  
Orbital Sciences Corp. *
    26,259       343,730  
Orion Marine Group, Inc. *
    11,596       82,332  
Oshkosh Corp. *
    40,171       1,179,019  
Pike Electric Corp. *
    8,927       88,377  
Polypore International, Inc. *(a)
    20,470       840,294  
Powell Industries, Inc. *
    4,050       162,162  
Preformed Line Products Co.
    1,179       66,165  
Primoris Services Corp.
    12,502       181,029  
Proto Labs, Inc. *
    3,930       143,366  
Quanex Building Products Corp.
    16,344       341,917  
Raven Industries, Inc.
    15,754       409,446  
RBC Bearings, Inc. *
    9,842       458,539  
Regal-Beloit Corp.
    18,112       1,263,312  
Rexnord Corp. *
    11,807       252,434  
Robbins & Myers, Inc.
    18,505       1,099,197  
Rush Enterprises, Inc., Class A *
    14,867       284,703  
Sauer-Danfoss, Inc.
    4,877       256,189  
Seaboard Corp. *
    131       309,207  
Simpson Manufacturing Co., Inc.
    17,326       566,733  
Standex International Corp.
    5,502       271,029  
Sterling Construction Co., Inc. *
    6,288       58,038  
Sun Hydraulics Corp.
    11,414       298,362  
TAL International Group, Inc.
    12,986       442,173  
Taser International, Inc. *
    24,731       204,278  
Tecumseh Products Co., Class A *
    6,580       29,018  
Teledyne Technologies, Inc. *
    16,147       1,017,261  
Tennant Co.
    7,472       284,982  
Terex Corp. *
    48,764       1,179,601  
Textainer Group Holdings Ltd.
    7,460       225,143  
The Gorman-Rupp Co.
    6,681       185,932  
The Keyw Holding Corp. *
    12,682       163,091  
The Manitowoc Co., Inc.
    58,474       877,110  
The Middleby Corp. *
    8,337       1,062,050  
The Shaw Group, Inc. *
    28,757       1,292,052  
The Toro Co.
    25,596       1,148,237  
Thermon Group Holdings, Inc. *
    5,989       148,108  
Titan International, Inc.
    20,906       425,019  
Titan Machinery, Inc. *(a)
    7,602       168,308  
Trex Co., Inc. *
    6,217       252,472  
TriMas Corp. *
    13,560       351,204  
Trinity Industries, Inc.
    34,652       1,100,894  
Triumph Group, Inc.
    21,666       1,421,506  
Tutor Perini Corp. *
    14,429       185,557  
Twin Disc, Inc.
    4,060       69,264  
United Rentals, Inc. *
    40,171       1,668,302  
Universal Forest Products, Inc.
    8,692       327,341  
 
 
 
 3

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
USG Corp. *(a)
    38,992       1,046,155  
Valmont Industries, Inc.
    10,235       1,429,420  
Vicor Corp. *
    9,754       52,184  
Wabash National Corp. *
    30,539       247,061  
WABCO Holdings, Inc. *
    27,954       1,734,546  
Wabtec Corp.
    20,863       1,765,427  
Watsco, Inc.
    12,986       930,966  
Watts Water Technologies, Inc., Class A
    12,200       498,858  
WESCO International, Inc. *
    19,291       1,247,163  
Woodward, Inc.
    26,775       979,162  
                 
              85,095,286  
 
Commercial & Professional Services 3.5%
ABM Industries, Inc.
    22,059       420,886  
Acacia Research Corp. *
    21,666       481,635  
Acco Brands Corp. *
    49,637       334,553  
American Reprographics Co. *
    17,071       43,019  
Asset Acceptance Capital Corp. *
    4,771       26,956  
CBIZ, Inc. *
    19,033       110,582  
CDI Corp.
    5,971       98,641  
Cenveo, Inc. *(a)
    23,892       55,907  
Clean Harbors, Inc. *
    20,470       1,172,522  
Consolidated Graphics, Inc. *
    3,537       120,399  
Corrections Corp. of America
    43,725       1,482,278  
Courier Corp.
    4,716       53,338  
Covanta Holding Corp.
    59,086       1,115,544  
CRA International, Inc. *
    4,575       80,886  
Deluxe Corp.
    22,059       635,299  
Encore Capital Group, Inc. *
    9,661       256,789  
EnergySolutions, Inc. *
    37,084       121,265  
EnerNOC, Inc. *
    10,628       119,990  
Ennis, Inc.
    11,569       176,080  
Exponent, Inc. *
    5,801       310,005  
FTI Consulting, Inc. *
    18,505       571,990  
Fuel Tech, Inc. *
    7,211       27,834  
G&K Services, Inc., Class A
    8,318       281,980  
Healthcare Services Group, Inc.
    29,543       694,851  
Heidrick & Struggles International, Inc.
    8,181       107,498  
Herman Miller, Inc.
    25,872       546,417  
Hill International, Inc. *
    11,624       40,452  
HNI Corp.
    19,684       586,190  
Huron Consulting Group, Inc. *
    10,159       334,637  
ICF International, Inc. *
    8,718       188,483  
Innerworkings, Inc. *
    13,025       169,455  
Insperity, Inc.
    10,296       310,939  
Interface, Inc.
    25,292       371,540  
KAR Auction Services, Inc. *
    35,062       623,052  
Kelly Services, Inc., Class A
    11,414       155,915  
Kforce, Inc. *
    13,379       172,054  
Kimball International, Inc., Class B
    11,939       148,999  
Knoll, Inc.
    21,127       303,384  
Korn/Ferry International *
    20,863       300,844  
McGrath Rentcorp
    9,842       275,773  
Metalico, Inc. *
    18,729       31,277  
Mine Safety Appliances Co.
    13,379       517,500  
Mistras Group, Inc. *
    6,681       144,911  
Mobile Mini, Inc. *
    17,201       343,332  
Multi-Color Corp.
    5,858       131,688  
Navigant Consulting, Inc. *
    22,452       233,725  
NL Industries, Inc.
    3,395       36,327  
On Assignment, Inc. *
    18,898       376,637  
Pendrell Corp. *
    66,847       72,863  
Performant Financial Corp. *
    3,537       34,167  
Portfolio Recovery Associates, Inc. *
    7,484       739,569  
Quad/Graphics, Inc. (a)
    9,755       158,031  
R.R. Donnelley & Sons Co. (a)
    78,394       736,904  
Resources Connection, Inc.
    19,291       223,969  
Rollins, Inc.
    28,757       654,797  
RPX Corp. *
    9,616       87,313  
Schawk, Inc.
    4,340       52,123  
Standard Parking Corp. *
    6,919       153,948  
Steelcase, Inc., Class A
    34,652       403,349  
Swisher Hygiene, Inc. *(a)
    52,299       74,788  
Sykes Enterprises, Inc. *
    17,644       258,661  
Team, Inc. *
    8,561       307,511  
Tetra Tech, Inc. *
    27,701       713,578  
The Advisory Board Co. *
    14,556       658,659  
The Brink’s Co.
    20,781       570,646  
The Corporate Executive Board Co.
    14,801       633,483  
The Dolan Co. *
    12,217       41,904  
The Geo Group, Inc.
    26,775       755,055  
TMS International Corp., Class A *
    5,687       62,557  
TrueBlue, Inc. *
    17,838       254,192  
UniFirst Corp.
    6,681       471,478  
United Stationers, Inc.
    18,048       553,893  
US Ecology, Inc.
    8,027       175,470  
Viad Corp.
    9,137       205,400  
WageWorks, Inc. *
    2,797       51,661  
                 
              24,350,227  
 
Consumer Durables & Apparel 2.9%
American Greetings Corp., Class A (a)
    14,575       251,273  
Arctic Cat, Inc. *
    5,355       201,509  
Beazer Homes USA, Inc. *
    10,554       157,571  
Blyth, Inc. (a)
    4,895       78,907  
Brunswick Corp.
    38,992       1,004,824  
Callaway Golf Co.
    28,921       194,928  
Carter’s, Inc. *
    22,059       1,170,009  
Cavco Industries, Inc. *
    2,835       146,003  
Columbia Sportswear Co. (a)
    5,502       318,566  
Crocs, Inc. *
    39,841       531,877  
CSS Industries, Inc.
    4,027       82,634  
Deckers Outdoor Corp. *(a)
    16,147       618,269  
Ethan Allen Interiors, Inc.
    11,414       331,120  
Fifth & Pacific Cos., Inc. *
    49,244       593,390  
G-III Apparel Group Ltd. *
    7,307       278,031  
Hanesbrands, Inc. *
    42,546       1,535,911  
Helen of Troy Ltd. *
    13,137       405,408  
Hovnanian Enterprises, Inc., Class A *(a)
    43,651       227,858  
Iconix Brand Group, Inc. *
    29,936       603,510  
iRobot Corp. *
    11,021       207,636  
JAKKS Pacific, Inc.
    9,842       122,828  
K-Swiss, Inc., Class A *
    12,215       37,744  
KB Home (a)
    31,741       455,801  
La-Z-Boy, Inc. *
    23,370       348,680  
Leapfrog Enterprises, Inc. *
    20,604       187,702  
M.D.C Holdings, Inc.
    16,303       574,518  
M/I Homes, Inc. *
    8,613       189,572  
 
 
 
4 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Maidenform Brands, Inc. *
    10,405       191,140  
Marine Products Corp.
    6,902       37,823  
Meritage Homes Corp. *
    13,805       483,451  
Movado Group, Inc.
    7,904       274,190  
NACCO Industries, Inc., Class A
    2,617       139,538  
Oxford Industries, Inc.
    6,497       354,996  
Perry Ellis International, Inc. *
    5,844       126,698  
Quiksilver, Inc. *
    53,567       214,268  
Sealy Corp. *(a)
    22,391       48,589  
Skechers U.S.A., Inc., Class A *
    16,540       321,868  
Skullcandy, Inc. *(a)
    7,307       62,986  
Smith & Wesson Holding Corp. *
    28,919       306,541  
Standard Pacific Corp. *
    48,099       322,263  
Steven Madden Ltd. *
    17,719       788,673  
Sturm Ruger & Co., Inc. (a)
    8,456       495,437  
Tempur-Pedic International, Inc. *
    25,989       692,607  
The Jones Group, Inc.
    33,080       389,021  
The Ryland Group, Inc.
    19,592       655,352  
The Warnaco Group, Inc. *
    17,719       1,273,819  
True Religion Apparel, Inc.
    11,467       299,174  
Tumi Holdings, Inc. *
    8,293       186,344  
Universal Electronics, Inc. *
    6,399       112,878  
Vera Bradley, Inc. *(a)
    9,449       261,832  
Wolverine World Wide, Inc.
    21,273       920,696  
Zagg, Inc. *(a)
    10,159       73,450  
                 
              19,889,713  
 
Consumer Services 3.8%
AFC Enterprises, Inc. *
    10,628       281,004  
Ambassadors Group, Inc.
    7,984       37,924  
American Public Education, Inc. *
    7,988       274,627  
Ameristar Casinos, Inc.
    14,706       292,649  
Ascent Capital Group, Inc., Class A *
    5,895       360,833  
Bally Technologies, Inc. *
    18,112       817,576  
Biglari Holdings, Inc. *
    525       190,811  
BJ’s Restaurants, Inc. *
    10,403       356,719  
Bloomin’ Brands, Inc. *
    6,681       105,760  
Bob Evans Farms, Inc.
    12,200       459,818  
Boyd Gaming Corp. *
    25,257       138,914  
Bravo Brio Restaurant Group, Inc. *
    8,132       111,002  
Bridgepoint Education, Inc. *
    8,290       80,745  
Brinker International, Inc.
    32,294       967,205  
Buffalo Wild Wings, Inc. *
    8,270       599,079  
Caesars Entertainment Corp. *(a)
    16,412       100,113  
Capella Education Co. *
    4,983       137,880  
Career Education Corp. *
    22,452       67,131  
Caribou Coffee Co., Inc. *
    9,213       111,017  
CEC Entertainment, Inc.
    7,484       234,249  
Choice Hotels International, Inc.
    11,807       383,728  
Churchill Downs, Inc.
    5,502       347,781  
Chuy’s Holdings, Inc. *
    2,358       55,531  
Coinstar, Inc. *(a)
    13,678       643,413  
Corinthian Colleges, Inc. *
    34,606       76,825  
Cracker Barrel Old Country Store, Inc.
    10,235       628,941  
Del Frisco’s Restaurant Group, Inc. *
    2,358       34,922  
Denny’s Corp. *
    43,581       207,010  
DeVry, Inc.
    23,896       622,969  
DineEquity, Inc. *
    6,681       421,237  
Domino’s Pizza, Inc.
    24,810       1,032,096  
Education Management Corp. *(a)
    7,877       30,484  
Grand Canyon Education, Inc. *
    17,326       410,280  
Hillenbrand, Inc.
    28,109       594,786  
Ignite Restaurant Group, Inc. *
    2,476       31,445  
International Speedway Corp., Class A
    11,021       295,693  
Interval Leisure Group, Inc.
    17,504       329,600  
Isle of Capri Casinos, Inc. *
    9,056       44,465  
ITT Educational Services, Inc. *(a)
    6,681       121,127  
Jack in the Box, Inc. *
    19,560       538,878  
K12, Inc. *(a)
    15,754       273,017  
Krispy Kreme Doughnuts, Inc. *
    25,989       236,500  
Life Time Fitness, Inc. *
    17,326       815,362  
LifeLock, Inc. *
    6,661       55,886  
Lincoln Educational Services Corp.
    10,251       39,671  
Marriott Vacations Worldwide Corp. *
    12,593       501,327  
Matthews International Corp., Class A
    12,200       369,050  
Morgans Hotel Group Co. *
    12,786       74,798  
National American University Holdings, Inc.
    4,456       17,646  
Orient-Express Hotels Ltd., Class A *
    38,992       480,771  
Papa John’s International, Inc. *
    7,484       396,128  
Pinnacle Entertainment, Inc. *
    28,109       363,168  
Red Robin Gourmet Burgers, Inc. *
    6,025       197,319  
Regis Corp.
    25,712       423,477  
Ruby Tuesday, Inc. *
    26,382       206,043  
Ryman Hospitality Properties
    20,863       693,069  
Scientific Games Corp., Class A *
    24,810       206,667  
Service Corp. International
    94,148       1,311,482  
SHFL Entertainment, Inc. *
    24,042       330,818  
Six Flags Entertainment Corp.
    23,238       1,428,672  
Sonic Corp. *
    23,631       239,382  
Sotheby’s
    29,543       852,611  
Speedway Motorsports, Inc.
    5,746       93,200  
Steiner Leisure Ltd. *
    5,895       271,170  
Stewart Enterprises, Inc., Class A
    32,687       249,729  
Strayer Education, Inc. (a)
    5,109       267,354  
Texas Roadhouse, Inc.
    25,203       418,622  
The Cheesecake Factory, Inc.
    21,666       740,761  
The Marcus Corp.
    8,667       102,617  
The Wendy’s Co.
    122,512       570,906  
Universal Technical Institute, Inc.
    9,873       93,497  
Vail Resorts, Inc.
    15,754       887,265  
WMS Industries, Inc. *
    23,631       399,364  
                 
              26,183,616  
 
Diversified Financials 1.9%
Artio Global Investors, Inc.
    14,034       31,717  
BGC Partners, Inc., Class A
    41,969       151,088  
Calamos Asset Management, Inc., Class A
    8,926       87,475  
Cash America International, Inc.
    13,143       489,445  
Cohen & Steers, Inc. (a)
    7,877       225,125  
Cowen Group, Inc., Class A *
    36,860       85,515  
Credit Acceptance Corp. *
    4,323       398,840  
DFC Global Corp. *
    19,226       335,494  
Duff & Phelps Corp., Class A
    14,464       175,593  
Epoch Holding Corp.
    7,091       155,364  
Evercore Partners, Inc., Class A
    11,497       315,823  
EZCORP, Inc., Class A *
    19,684       378,326  
 
 
 
 5

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
FBR & Co. *
    21,273       71,264  
Federated Investors, Inc., Class B (a)
    40,957       812,996  
Financial Engines, Inc. *
    17,719       464,592  
First Cash Financial Services, Inc. *
    11,682       564,357  
Gain Capital Holdings, Inc.
    5,895       26,115  
GAMCO Investors, Inc., Class A
    1,695       83,055  
GFI Group, Inc.
    29,729       82,944  
Gleacher & Co., Inc. *
    32,986       21,771  
Green Dot Corp., Class A *(a)
    9,191       114,244  
Greenhill & Co., Inc.
    11,807       561,069  
HFF, Inc., Class A *
    14,182       210,319  
ICG Group, Inc. *
    16,445       183,362  
Interactive Brokers Group, Inc., Class A
    17,824       272,529  
INTL FCStone, Inc. *
    6,288       108,971  
Investment Technology Group, Inc. *
    17,326       154,894  
Janus Capital Group, Inc.
    82,925       679,985  
KBW, Inc.
    16,752       288,972  
Knight Capital Group, Inc., Class A *
    44,123       148,694  
Ladenburg Thalmann Financial Services, Inc. *
    49,370       60,231  
MarketAxess Holdings, Inc.
    15,361       474,040  
Nelnet, Inc., Class A
    11,414       326,326  
Netspend Holdings, Inc. *
    15,067       175,530  
NewStar Financial, Inc. *
    8,270       104,285  
Oppenheimer Holdings, Inc., Class A
    4,729       76,184  
PHH Corp. *
    25,203       552,198  
PICO Holdings, Inc. *
    10,287       186,195  
Piper Jaffray Cos., Inc. *
    7,091       201,172  
Pzena Investment Management, Inc., Class A
    4,455       24,681  
Safeguard Scientifics, Inc. *
    8,523       120,430  
Stifel Financial Corp. *
    21,666       659,080  
SWS Group, Inc. *
    14,662       70,378  
The First Marblehead Corp. *
    28,921       19,377  
Virtus Investment Partners, Inc. *
    2,358       270,840  
Waddell & Reed Financial, Inc., Class A
    37,420       1,215,776  
Walter Investment Management Corp. *
    14,174       599,277  
Westwood Holdings Group, Inc.
    3,144       125,697  
WisdomTree Investments, Inc. *
    21,261       129,905  
World Acceptance Corp. *(a)
    5,502       401,701  
                 
              13,473,241  
 
Energy 5.2%
Abraxas Petroleum Corp. *
    41,151       91,355  
Alon USA Energy, Inc.
    5,465       77,712  
Alpha Natural Resources, Inc. *
    95,720       715,986  
Amyris, Inc. *(a)
    9,056       25,628  
Apco Oil & Gas International, Inc.
    7,877       83,890  
Approach Resources, Inc. *
    14,908       350,189  
Arch Coal, Inc.
    92,969       624,752  
Atwood Oceanics, Inc. *
    24,810       1,141,260  
Basic Energy Services, Inc. *
    13,027       143,558  
Berry Petroleum Co., Class A
    20,470       636,822  
Bill Barrett Corp. *
    20,863       362,599  
Bonanza Creek Energy, Inc. *
    9,842       233,255  
BPZ Resources, Inc. *(a)
    48,084       121,653  
Bristow Group, Inc.
    15,361       800,308  
C&J Energy Services, Inc. *(a)
    5,109       102,027  
Cal Dive International, Inc. *(a)
    42,771       67,150  
CARBO Ceramics, Inc. (a)
    8,663       663,326  
Carrizo Oil & Gas, Inc. *
    15,783       327,497  
Ceres, Inc. *
    2,368       9,827  
Cheniere Energy, Inc. *
    93,755       1,575,084  
Clayton Williams Energy, Inc. *
    2,358       95,994  
Clean Energy Fuels Corp. *(a)
    28,757       381,318  
Cloud Peak Energy, Inc. *
    26,995       512,095  
Comstock Resources, Inc. *
    19,291       316,372  
Contango Oil & Gas Co. *
    5,502       225,527  
Crosstex Energy, Inc.
    17,719       227,689  
CVR Energy, Inc. *
    6,681       305,589  
Dawson Geophysical Co. *
    3,645       82,924  
Delek US Holdings, Inc.
    7,484       196,605  
Diamondback Energy, Inc. *
    5,551       99,918  
Dresser-Rand Group, Inc. *
    33,080       1,746,955  
Dril-Quip, Inc. *
    15,754       1,108,609  
Emerald Oil, Inc. *
    15,937       81,438  
Endeavour International Corp. *(a)
    18,898       127,373  
EPL Oil & Gas, Inc. *
    15,361       322,427  
EXCO Resources, Inc. (a)
    63,426       492,186  
Exterran Holdings, Inc. *
    28,616       597,216  
Forest Oil Corp. *
    52,319       333,272  
Forum Energy Technologies, Inc. *
    6,821       172,162  
FX Energy, Inc. *
    23,354       93,650  
Gastar Exploration Ltd. *
    26,489       26,224  
Geospace Technologies Corp. *
    5,622       428,228  
Gevo, Inc. *(a)
    8,663       13,861  
Global Geophysical Services, Inc. *
    9,606       40,441  
Goodrich Petroleum Corp. *(a)
    12,094       108,967  
Green Plains Renewable Energy, Inc. *
    9,449       73,041  
Gulf Island Fabrication, Inc.
    5,222       121,516  
Gulfmark Offshore, Inc., Class A *
    10,628       333,081  
Gulfport Energy Corp. *
    21,666       824,175  
Halcon Resources Corp. *
    36,634       226,398  
Hallador Energy Co.
    5,159       42,252  
Harvest Natural Resources, Inc. *
    16,540       145,552  
Helix Energy Solutions Group, Inc. *
    42,546       744,980  
Hercules Offshore, Inc. *
    69,714       359,724  
Hornbeck Offshore Services, Inc. *
    13,772       495,379  
Hyperdynamics Corp. *(a)
    69,321       49,911  
ION Geophysical Corp. *
    52,978       315,749  
Isramco, Inc. *(a)
    468       50,076  
James River Coal Co. *(a)
    15,754       58,132  
Key Energy Services, Inc. *
    67,147       449,213  
KiOR, Inc., Class A *(a)
    1,783       11,500  
Kodiak Oil & Gas Corp. *
    115,028       986,940  
Laredo Petroleum Holdings, Inc. *
    10,235       194,670  
Lufkin Industries, Inc.
    14,575       798,127  
Magnum Hunter Resources Corp. *(a)
    69,714       280,947  
Matador Resources Co. *
    17,719       157,522  
Matrix Service Co. *
    11,506       126,221  
McMoRan Exploration Co. *(a)
    43,725       372,974  
Midstates Petroleum Co., Inc. *
    13,379       91,914  
Newpark Resources, Inc. *
    38,599       301,072  
Northern Oil and Gas, Inc. *
    25,596       401,857  
Oasis Petroleum, Inc. *
    31,206       943,045  
Parker Drilling Co. *
    52,556       220,210  
PDC Energy, Inc. *
    13,226       474,549  
Penn Virginia Corp.
    20,590       91,214  
 
 
 
6 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
PetroQuest Energy, Inc. *
    24,810       132,237  
PHI, Inc. *
    5,502       172,378  
Pioneer Energy Services Corp. *
    27,332       197,610  
Quicksilver Resources, Inc. *(a)
    53,627       169,998  
Renewable Energy Group, Inc. *
    12,309       72,869  
Rentech, Inc. *
    99,442       280,426  
Resolute Energy Corp. *
    17,326       147,964  
Rex Energy Corp. *
    19,212       252,638  
Rosetta Resources, Inc. *
    23,238       1,044,316  
RPC, Inc. (a)
    28,757       332,431  
Sanchez Energy Corp. *
    5,895       107,702  
SEACOR Holdings, Inc. *
    8,663       784,868  
SemGroup Corp., Class A *
    18,112       682,460  
Solazyme, Inc. *(a)
    15,410       114,959  
Stone Energy Corp. *
    21,812       452,163  
Swift Energy Co. *
    18,909       292,711  
Targa Resources Corp.
    12,593       630,783  
Teekay Corp.
    16,540       532,919  
Tesco Corp. *
    13,772       148,738  
TETRA Technologies, Inc. *
    33,594       235,158  
Unit Corp. *
    18,898       848,898  
VAALCO Energy, Inc. *
    25,258       213,935  
W&T Offshore, Inc.
    15,361       254,532  
Warren Resources, Inc. *
    31,619       86,952  
Western Refining, Inc.
    26,863       780,370  
Willbros Group, Inc. *
    21,969       110,504  
World Fuel Services Corp.
    31,508       1,227,237  
                 
              36,340,615  
 
Food & Staples Retailing 0.9%
Arden Group, Inc., Class A
    562       56,054  
Casey’s General Stores, Inc.
    16,933       836,490  
Harris Teeter Supermarkets, Inc.
    21,666       823,091  
Ingles Markets, Inc., Class A
    5,343       87,037  
Nash Finch Co.
    5,534       116,767  
Natural Grocers by Vitamin Cottage, Inc. *
    1,572       30,135  
PriceSmart, Inc.
    8,270       641,090  
Rite Aid Corp. *
    298,608       301,594  
Roundy’s, Inc. (a)
    8,445       40,114  
Spartan Stores, Inc.
    10,159       152,791  
SUPERVALU, Inc. (a)
    95,375       226,993  
Susser Holdings Corp. *
    6,986       255,059  
The Andersons, Inc.
    8,159       344,147  
The Chefs’ Warehouse, Inc. *
    4,769       75,398  
The Fresh Market, Inc. *
    17,719       918,376  
The Pantry, Inc. *
    10,184       130,763  
United Natural Foods, Inc. *
    21,666       1,121,649  
Village Super Market, Inc., Class A
    2,751       103,603  
Weis Markets, Inc.
    4,966       194,220  
                 
              6,455,371  
 
Food, Beverage & Tobacco 1.9%
Alico, Inc.
    1,690       58,170  
Alliance One International, Inc. *
    38,769       127,550  
Annie’s, Inc. *
    3,742       134,226  
B&G Foods, Inc.
    23,499       685,701  
Cal-Maine Foods, Inc.
    5,783       265,844  
Calavo Growers, Inc.
    5,502       132,378  
Central European Distribution Corp. *(a)
    24,417       41,265  
Chiquita Brands International, Inc. *
    20,524       146,336  
Coca-Cola Bottling Co. Consolidated
    2,064       141,673  
Darling International, Inc. *
    51,787       873,647  
Dean Foods Co. *
    80,752       1,384,089  
Diamond Foods, Inc. (a)
    9,679       137,829  
Dole Food Co., Inc. *
    16,419       188,490  
Flowers Foods, Inc.
    50,423       1,186,957  
Fresh Del Monte Produce, Inc.
    17,094       443,589  
J&J Snack Foods Corp.
    6,194       389,603  
Lancaster Colony Corp.
    8,663       656,136  
Limoneira Co. (a)
    3,537       68,689  
National Beverage Corp. *
    4,567       78,370  
Pilgrim’s Pride Corp. *
    25,520       182,213  
Post Holdings, Inc. *
    13,801       475,306  
Sanderson Farms, Inc.
    8,663       415,564  
Seneca Foods Corp., Class A *
    3,537       109,576  
Smart Balance, Inc. *
    25,989       323,043  
Snyders-Lance, Inc.
    20,863       502,381  
Star Scientific, Inc. *(a)
    58,974       167,486  
The Boston Beer Co., Inc., Class A *(a)
    3,537       399,575  
The Hain Celestial Group, Inc. *
    19,769       1,191,478  
Tootsie Roll Industries, Inc. (a)
    9,056       246,142  
TreeHouse Foods, Inc. *
    15,754       826,140  
Universal Corp.
    10,417       519,808  
Vector Group Ltd. (a)
    24,525       395,833  
WhiteWave Foods Co., Class A *(a)
    10,152       154,006  
                 
              13,049,093  
 
Health Care Equipment & Services 6.6%
Abaxis, Inc. *
    9,056       341,773  
ABIOMED, Inc. *(a)
    14,815       197,780  
Acadia Healthcare Co., Inc. *
    9,325       214,009  
Accretive Health, Inc. *(a)
    21,309       254,216  
Accuray, Inc. *
    26,775       168,147  
Air Methods Corp. *
    5,109       557,750  
Alere, Inc. *
    33,080       611,980  
Align Technology, Inc. *
    32,083       878,753  
Allscripts Healthcare Solutions, Inc. *
    74,840       832,221  
Almost Family, Inc. *
    3,863       76,642  
Alphatec Holdings, Inc. *
    24,852       42,497  
Amedisys, Inc. *
    13,124       137,408  
AMN Healthcare Services, Inc. *
    18,002       196,762  
AmSurg Corp. *
    14,061       393,989  
Analogic Corp.
    5,502       405,332  
AngioDynamics, Inc. *
    12,986       136,872  
ArthroCare Corp. *
    12,215       409,080  
Assisted Living Concepts, Inc., Class A
    9,102       78,823  
athenahealth, Inc. *
    15,754       1,003,372  
Atrion Corp.
    786       155,306  
Bio-Reference Labs, Inc. *
    10,879       286,444  
BioScrip, Inc. *
    25,841       266,162  
Brookdale Senior Living, Inc. *
    42,939       1,097,521  
Cantel Medical Corp.
    9,056       248,497  
Centene Corp. *
    22,452       985,867  
Chemed Corp.
    8,270       563,022  
Community Health Systems, Inc. *
    39,778       1,171,860  
 
 
 
 7

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Computer Programs & Systems, Inc.
    4,910       245,844  
Conceptus, Inc. *
    12,593       262,060  
CONMED Corp.
    12,620       348,691  
CorVel Corp. *
    2,932       122,997  
Cross Country Healthcare, Inc. *
    14,257       57,171  
CryoLife, Inc.
    12,406       73,692  
Cyberonics, Inc. *
    10,235       529,150  
Dexcom, Inc. *
    29,856       390,516  
Emeritus Corp. *
    13,379       302,633  
Endologix, Inc. *
    23,201       340,127  
ePocrates, Inc. *
    6,789       68,501  
ExamWorks Group, Inc. *
    11,021       135,889  
Gentiva Health Services, Inc. *
    13,506       139,112  
Globus Medical, Inc., Class A *
    3,537       47,077  
Greatbatch, Inc. *
    10,581       238,919  
Greenway Medical Technologies *(a)
    7,806       151,749  
Haemonetics Corp. *
    11,109       900,162  
Hanger, Inc. *
    14,923       389,640  
Health Management Associates, Inc., Class A *
    111,474       886,218  
Health Net, Inc. *
    35,455       834,965  
HEALTHSOUTH Corp. *
    42,418       932,772  
HealthStream, Inc. *
    8,663       205,486  
Healthways, Inc. *
    14,968       161,954  
Hill-Rom Holdings, Inc.
    27,168       759,617  
HMS Holdings Corp. *
    37,813       876,127  
ICU Medical, Inc. *
    5,304       312,353  
Insulet Corp. *
    19,684       432,064  
Integra LifeSciences Holdings Corp. *
    8,270       320,545  
Invacare Corp.
    12,593       177,939  
IPC The Hospitalist Co. *
    7,307       275,839  
Kindred Healthcare, Inc. *
    23,523       255,225  
Landauer, Inc.
    4,145       246,959  
LHC Group, Inc. *
    7,116       137,873  
LifePoint Hospitals, Inc. *
    21,433       771,159  
Magellan Health Services, Inc. *
    12,074       626,399  
MAKO Surgical Corp. *(a)
    16,685       230,253  
Masimo Corp.
    23,271       482,175  
MedAssets, Inc. *
    22,059       355,150  
Medidata Solutions, Inc. *
    9,842       393,680  
MEDNAX, Inc. *
    21,666       1,711,614  
Merge Healthcare, Inc. *(a)
    26,191       85,645  
Meridian Bioscience, Inc.
    18,218       364,907  
Merit Medical Systems, Inc. *
    17,326       240,485  
Metropolitan Health Networks, Inc. *
    17,843       200,555  
Molina Healthcare, Inc. *
    13,462       374,782  
MWI Veterinary Supply, Inc. *
    5,109       570,369  
National Healthcare Corp.
    3,930       175,789  
Natus Medical, Inc. *
    12,986       147,002  
Navidea Biopharmaceuticals, Inc. *(a)
    38,153       103,776  
Neogen Corp. *
    9,449       430,402  
NuVasive, Inc. *
    19,684       285,812  
NxStage Medical, Inc. *
    22,323       268,322  
Omnicell, Inc. *
    14,496       221,354  
OraSure Technologies, Inc. *
    24,417       188,011  
Orthofix International N.V. *
    8,152       303,662  
Owens & Minor, Inc.
    28,397       777,510  
Palomar Medical Technologies, Inc. *
    7,974       72,324  
PharMerica Corp. *
    13,201       190,622  
PSS World Medical, Inc. *
    22,059       627,358  
Quality Systems, Inc.
    16,640       303,014  
Quidel Corp. *
    13,036       228,521  
RTI Biologics, Inc. *
    24,466       109,363  
Select Medical Holdings Corp. *
    17,326       191,279  
Sirona Dental Systems, Inc. *
    24,417       1,528,748  
Skilled Healthcare Group, Inc., Class A *
    10,734       71,918  
Staar Surgical Co. *
    12,052       69,661  
STERIS Corp.
    24,618       841,197  
Sun Healthcare Group, Inc. *
    11,374       96,224  
Sunrise Senior Living, Inc. *
    24,474       353,405  
SurModics, Inc. *
    5,109       102,895  
Symmetry Medical, Inc. *
    15,975       155,756  
Team Health Holdings, Inc. *
    12,986       363,478  
Teleflex, Inc.
    17,719       1,226,155  
Tenet Healthcare Corp. *
    45,394       1,314,610  
The Ensign Group, Inc.
    7,712       198,892  
Thoratec Corp. *
    25,596       952,171  
Triple-S Management Corp., Class B *
    9,186       160,296  
Unilife Corp. *(a)
    30,878       70,402  
Universal American Corp.
    14,968       124,085  
Vanguard Health Systems, Inc. *
    14,182       149,904  
VCA Antech, Inc. *
    38,283       795,521  
Vocera Communications, Inc. *
    2,522       62,016  
Volcano Corp. *
    23,362       636,848  
WellCare Health Plans, Inc. *
    18,898       912,206  
West Pharmaceutical Services, Inc.
    15,089       815,259  
Wright Medical Group, Inc. *
    17,538       370,403  
Zeltiq Aesthetics, Inc. *(a)
    2,835       13,438  
                 
              45,688,733  
 
Household & Personal Products 0.6%
Central Garden & Pet Co., Class A *
    17,719       207,844  
Elizabeth Arden, Inc. *
    11,021       511,485  
Harbinger Group, Inc. *
    4,242       36,269  
Inter Parfums, Inc.
    7,712       154,394  
Lifevantage Corp. *(a)
    40,957       104,031  
Medifast, Inc. *
    6,631       210,335  
Nature’s Sunshine Products, Inc.
    4,514       69,200  
Nu Skin Enterprises, Inc., Class A
    23,631       1,072,847  
Prestige Brands Holdings, Inc. *
    22,059       476,474  
Revlon, Inc., Class A *
    5,377       80,225  
Schiff Nutrition International, Inc. *
    4,323       181,523  
Spectrum Brands Holdings, Inc.
    9,842       470,743  
USANA Health Sciences, Inc. *(a)
    2,751       113,561  
WD-40 Co.
    6,750       318,870  
                 
              4,007,801  
 
Insurance 2.9%
American Equity Investment Life Holding Co.
    26,282       303,031  
American National Insurance Co.
    3,144       216,905  
AMERISAFE, Inc. *
    8,394       217,237  
AmTrust Financial Services, Inc.
    11,862       341,863  
Argo Group International Holdings Ltd.
    11,414       378,831  
Aspen Insurance Holdings Ltd.
    31,115       973,899  
Baldwin & Lyons, Inc., Class B
    4,074       93,621  
Citizens, Inc. *
    17,354       174,581  
 
 
 
8 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
CNO Financial Group, Inc.
    99,597       906,333  
Crawford & Co., Class B
    11,614       72,820  
Donegal Group, Inc., Class A
    4,146       57,339  
eHealth, Inc. *
    8,663       223,505  
EMC Insurance Group, Inc.
    2,281       50,045  
Employers Holdings, Inc.
    14,007       267,394  
Endurance Specialty Holdings Ltd.
    18,898       759,700  
Enstar Group Ltd. *
    3,537       362,224  
FBL Financial Group, Inc., Class A
    5,140       170,854  
First American Financial Corp.
    46,083       1,096,775  
Global Indemnity plc *
    4,716       103,799  
Greenlight Capital Re Ltd., Class A *
    13,464       311,422  
Hilltop Holdings, Inc. *
    18,449       263,636  
Horace Mann Educators Corp.
    17,991       343,988  
Infinity Property & Casualty Corp.
    5,259       287,772  
Kansas City Life Insurance Co.
    1,772       67,921  
Kemper Corp.
    23,138       685,116  
Maiden Holdings Ltd.
    22,845       205,148  
MBIA, Inc. *
    61,837       552,823  
Meadowbrook Insurance Group, Inc.
    20,077       111,628  
Mercury General Corp.
    15,361       639,325  
Montpelier Re Holdings Ltd.
    25,684       562,223  
National Financial Partners Corp. *
    18,505       307,368  
National Interstate Corp.
    7,451       195,589  
National Western Life Insurance Co., Class A
    927       139,958  
Old Republic International Corp.
    105,186       1,103,401  
OneBeacon Insurance Group Ltd., Class A
    10,161       136,970  
Platinum Underwriters Holdings Ltd.
    14,575       648,879  
Presidential Life Corp.
    9,056       126,875  
Primerica, Inc.
    20,470       586,056  
ProAssurance Corp.
    13,379       1,213,208  
Protective Life Corp.
    35,062       951,933  
RLI Corp.
    7,484       482,269  
Safety Insurance Group, Inc.
    5,502       246,985  
Seabright Holdings, Inc.
    9,177       101,406  
Selective Insurance Group, Inc.
    24,024       448,768  
StanCorp Financial Group, Inc.
    18,650       634,287  
State Auto Financial Corp.
    6,203       90,068  
Stewart Information Services Corp.
    8,026       219,110  
Symetra Financial Corp.
    35,063       428,820  
The Hanover Insurance Group, Inc.
    19,684       719,450  
The Navigators Group, Inc. *
    4,716       247,166  
The Phoenix Cos., Inc. *
    2,452       59,289  
Tower Group, Inc.
    14,968       252,959  
United Fire Group, Inc.
    9,873       204,667  
Universal Insurance Holdings, Inc.
    11,266       51,711  
                 
              20,398,950  
 
Materials 5.7%
A. Schulman, Inc.
    13,086       342,591  
A.M. Castle & Co. *
    8,340       106,418  
AK Steel Holding Corp. (a)
    61,807       247,846  
AMCOL International Corp.
    11,021       332,724  
American Vanguard Corp.
    10,235       340,518  
Balchem Corp.
    12,829       458,637  
Berry Plastics Group, Inc. *
    12,951       193,099  
Boise, Inc.
    40,171       329,402  
Buckeye Technologies, Inc.
    17,498       485,045  
Cabot Corp.
    26,176       987,620  
Calgon Carbon Corp. *
    24,719       334,695  
Carpenter Technology Corp.
    19,291       934,842  
Century Aluminum Co. *
    22,452       174,452  
Chemtura Corp. *
    42,546       864,535  
Clearwater Paper Corp. *
    10,240       407,040  
Coeur d’Alene Mines Corp. *
    39,932       928,818  
Commercial Metals Co.
    51,440       697,012  
Compass Minerals International, Inc.
    14,575       1,113,530  
Cytec Industries, Inc.
    20,077       1,378,085  
Deltic Timber Corp.
    4,716       325,640  
Domtar Corp.
    15,754       1,262,053  
Eagle Materials, Inc.
    19,408       1,032,894  
Ferro Corp. *
    38,704       111,080  
Flotek Industries, Inc. *
    19,684       227,350  
FutureFuel Corp.
    6,178       70,120  
General Moly, Inc. *
    29,054       108,953  
Georgia Gulf Corp.
    14,968       686,432  
Globe Specialty Metals, Inc.
    25,989       360,208  
Graphic Packaging Holding Co. *
    57,450       372,851  
Greif, Inc., Class A
    13,379       548,940  
H.B. Fuller Co.
    21,973       721,813  
Hawkins, Inc.
    3,793       151,720  
Haynes International, Inc.
    5,502       256,063  
Headwaters, Inc. *
    27,299       207,472  
Hecla Mining Co.
    124,367       721,329  
Horsehead Holding Corp. *
    19,291       179,406  
Innophos Holdings, Inc.
    9,449       452,702  
Intrepid Potash, Inc. *
    23,247       494,696  
Kaiser Aluminum Corp.
    7,484       455,551  
KapStone Paper and Packaging Corp. *
    16,540       362,557  
Koppers Holdings, Inc.
    9,160       324,172  
Kraton Performance Polymers, Inc. *
    14,206       333,699  
Kronos Worldwide, Inc. (a)
    8,953       144,233  
Louisiana-Pacific Corp. *
    61,051       1,063,508  
LSB Industries, Inc. *
    8,143       272,220  
Materion Corp.
    9,079       186,120  
McEwen Mining, Inc. *
    108,887       402,882  
Metals USA Holdings Corp.
    5,834       91,244  
Minerals Technologies, Inc.
    7,877       582,898  
Molycorp, Inc. *(a)
    46,526       417,338  
Myers Industries, Inc.
    14,831       220,537  
Neenah Paper, Inc.
    6,681       187,469  
NewMarket Corp.
    4,716       1,251,391  
Noranda Aluminum Holding Corp.
    25,596       151,784  
Olin Corp.
    33,866       702,042  
Olympic Steel, Inc.
    4,511       89,182  
OM Group, Inc. *
    14,447       288,507  
Omnova Solutions, Inc. *
    20,349       150,990  
P.H. Glatfelter Co.
    18,505       314,400  
Packaging Corp. of America
    42,939       1,564,697  
PolyOne Corp.
    38,992       785,299  
Quaker Chemical Corp.
    5,688       276,892  
Resolute Forest Products *(a)
    41,442       485,286  
RPM International, Inc.
    57,514       1,668,481  
RTI International Metals, Inc. *
    13,234       328,203  
Schnitzer Steel Industries, Inc., Class A
    10,573       298,053  
Schweitzer-Mauduit International, Inc.
    14,182       531,400  
Sensient Technologies Corp.
    21,666       784,309  
Silgan Holdings, Inc.
    21,666       963,704  
 
 
 
 9

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Spartech Corp. *
    13,136       116,648  
Stepan Co.
    3,537       353,523  
Stillwater Mining Co. *
    51,341       589,395  
SunCoke Energy, Inc. *
    31,366       509,698  
Texas Industries, Inc. *(a)
    9,056       420,380  
Titanium Metals Corp.
    30,329       504,068  
TPC Group, Inc. *
    6,500       312,195  
Tredegar Corp.
    10,129       190,932  
United States Lime & Minerals, Inc. *
    845       37,121  
US Antimony Corp. *(a)
    18,695       36,829  
US Silica Holdings, Inc. *(a)
    5,631       81,762  
Walter Energy, Inc.
    26,775       808,605  
Wausau Paper Corp.
    21,801       182,910  
Worthington Industries, Inc.
    22,452       528,969  
Zep, Inc.
    9,875       122,450  
Zoltek Cos., Inc. *
    12,401       87,427  
                 
              39,510,591  
 
Media 1.5%
Arbitron, Inc.
    11,414       415,127  
Belo Corp., Class A
    41,556       299,203  
Cinemark Holdings, Inc.
    43,292       1,177,542  
Clear Channel Outdoor Holdings, Inc., Class A *
    16,933       110,064  
Crown Media Holdings, Inc., Class A *(a)
    14,694       26,890  
Cumulus Media, Inc. *
    23,904       54,740  
Digital Generation, Inc. *(a)
    10,673       113,347  
DreamWorks Animation SKG, Inc., Class A *
    31,705       543,107  
E.W. Scripps Co., Class A *
    14,182       144,373  
Entercom Communications Corp., Class A *
    11,810       74,994  
Entravision Communications Corp., Class A
    22,547       33,821  
Fisher Communications, Inc.
    2,675       67,169  
Harte-Hanks, Inc.
    19,827       104,885  
Journal Communications, Inc., Class A *
    18,563       104,138  
Lamar Advertising Co., Class A *
    24,024       943,422  
LIN TV Corp., Class A *
    14,437       93,552  
Live Nation Entertainment, Inc. *
    61,837       542,929  
Martha Stewart Living Omnimedia, Class A
    12,620       33,317  
Meredith Corp. (a)
    16,210       505,428  
Morningstar, Inc.
    10,235       653,300  
National CineMedia, Inc.
    24,664       352,695  
Pandora Media, Inc. *(a)
    41,350       360,572  
ReachLocal, Inc. *
    4,139       45,363  
Regal Entertainment Group, Class A (a)
    34,507       537,619  
Scholastic Corp.
    10,969       307,790  
Shutterstock, Inc. *
    1,851       47,386  
Sinclair Broadcast Group, Inc., Class A
    22,452       247,646  
The Madison Square Garden Co., Class A *
    26,382       1,155,532  
The McClatchy Co., Class A *(a)
    22,796       76,367  
The New York Times Co., Class A *
    53,174       431,241  
Valassis Communications, Inc. *
    17,326       450,129  
World Wrestling Entertainment, Inc., Class A (a)
    12,216       98,583  
                 
              10,152,271  
 
Pharmaceuticals, Biotechnology & Life Sciences 5.1%
Achillion Pharmaceuticals, Inc. *
    26,873       209,341  
Acorda Therapeutics, Inc. *
    17,561       442,186  
Aegerion Pharmaceuticals, Inc. *
    5,895       129,101  
Affymax, Inc. *
    15,827       386,812  
Affymetrix, Inc. *
    27,982       93,180  
Akorn, Inc. *
    29,028       391,588  
Alkermes plc *
    53,174       1,026,790  
Alnylam Pharmaceuticals, Inc. *
    18,112       307,361  
AMAG Pharmaceuticals, Inc. *
    9,327       140,185  
Arena Pharmaceuticals, Inc. *(a)
    94,541       837,633  
ARIAD Pharmaceuticals, Inc. *
    72,482       1,620,698  
Arqule, Inc. *
    27,061       71,982  
Array BioPharma, Inc. *
    58,745       230,868  
Auxilium Pharmaceuticals, Inc. *
    21,385       409,309  
AVANIR Pharmaceuticals, Inc. *(a)
    60,299       159,189  
AVEO Pharmaceuticals, Inc. *
    15,361       99,847  
Bio-Rad Laboratories, Inc., Class A *
    8,663       905,197  
BioCryst Pharmaceuticals, Inc. *
    17,348       29,839  
Bruker Corp. *
    41,359       603,841  
Cadence Pharmaceuticals, Inc. *(a)
    24,024       102,342  
Cell Therapeutics, Inc. *(a)
    17,096       23,592  
Cepheid, Inc. *
    29,222       947,377  
Charles River Laboratories International, Inc. *
    21,273       816,245  
ChemoCentryx, Inc. *(a)
    1,996       23,653  
Clovis Oncology, Inc. *(a)
    6,681       102,754  
Cubist Pharmaceuticals, Inc. *
    27,954       1,135,212  
Curis, Inc. *(a)
    34,081       114,171  
Cytori Therapeutics, Inc. *(a)
    23,201       97,212  
Dendreon Corp. *(a)
    68,478       304,727  
Depomed, Inc. *
    22,575       135,902  
Dyax Corp. *
    43,986       143,834  
Dynavax Technologies Corp. *
    77,608       220,407  
Emergent Biosolutions, Inc. *
    10,367       155,712  
Endocyte, Inc. *
    13,852       129,793  
Enzon Pharmaceuticals, Inc. *
    21,273       148,486  
Exact Sciences Corp. *
    31,272       306,778  
Exelixis, Inc. *(a)
    80,359       392,956  
Fluidigm Corp. *
    8,579       122,165  
Genomic Health, Inc. *
    7,877       217,878  
Geron Corp. *
    59,101       84,514  
Halozyme Therapeutics, Inc. *
    37,813       235,575  
Hi-Tech Pharmacal Co., Inc. *
    4,455       134,541  
Idenix Pharmaceuticals, Inc. *
    45,100       230,912  
ImmunoGen, Inc. *
    36,241       459,898  
Immunomedics, Inc. *
    29,782       95,005  
Impax Laboratories, Inc. *
    27,954       568,584  
Incyte Corp. *(a)
    56,728       998,413  
Infinity Pharmaceuticals, Inc. *
    13,801       349,855  
Intercept Pharmaceuticals, Inc. *(a)
    2,221       51,905  
InterMune, Inc. *
    29,324       268,608  
Ironwood Pharmaceuticals, Inc. *
    36,241       391,403  
Isis Pharmaceuticals, Inc. *
    42,366       389,767  
Jazz Pharmaceuticals plc *
    20,470       1,102,924  
KYTHERA Biopharmaceuticals, Inc. *
    1,851       45,294  
 
 
 
10 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Lexicon Pharmaceuticals, Inc. *
    215,874       371,303  
Luminex Corp. *
    16,933       291,586  
MannKind Corp. *(a)
    51,602       110,428  
MAP Pharmaceuticals, Inc. *
    11,252       179,357  
Medicis Pharmaceutical Corp., Class A
    25,989       1,124,024  
Medivation, Inc. *
    32,294       1,684,132  
Merrimack Pharmaceuticals, Inc. *
    5,895       42,090  
Momenta Pharmaceuticals, Inc. *
    20,081       214,867  
Myriad Genetics, Inc. *
    37,027       1,063,415  
Nektar Therapeutics *
    51,083       333,572  
Neurocrine Biosciences, Inc. *
    25,989       194,398  
Novavax, Inc. *
    43,986       81,814  
NPS Pharmaceuticals, Inc. *
    38,110       389,865  
Obagi Medical Products, Inc. *
    8,411       114,894  
Oncothyreon, Inc. *(a)
    26,775       122,630  
Opko Health, Inc. *(a)
    59,479       260,518  
Optimer Pharmaceuticals, Inc. *(a)
    23,513       239,597  
Osiris Therapeutics, Inc. *(a)
    6,681       64,138  
Pacific Biosciences of California, Inc. *
    19,291       32,409  
Pacira Pharmaceuticals, Inc. *(a)
    9,056       154,405  
Pain Therapeutics, Inc. *
    19,684       62,595  
PAREXEL International Corp. *
    26,654       860,658  
PDL BioPharma, Inc. (a)
    62,763       495,828  
POZEN, Inc. *
    14,182       78,710  
Progenics Pharmaceuticals, Inc. *
    16,933       39,962  
Puma Biotechnology, Inc. *
    3,384       69,710  
Questcor Pharmaceuticals, Inc. (a)
    25,989       674,415  
Rigel Pharmaceuticals, Inc. *
    33,630       279,129  
Sagent Pharmaceuticals, Inc. *
    6,497       96,805  
Salix Pharmaceuticals Ltd. *
    21,666       928,388  
Sangamo BioSciences, Inc. *(a)
    23,238       133,154  
Santarus, Inc. *
    24,065       239,928  
Savient Pharmaceuticals, Inc. *(a)
    28,514       34,217  
Seattle Genetics, Inc. *
    44,904       1,136,520  
Sequenom, Inc. *(a)
    50,531       246,086  
SIGA Technologies, Inc. *(a)
    16,282       43,961  
Spectrum Pharmaceuticals, Inc. *(a)
    22,452       265,832  
Sucampo Pharmaceuticals, Inc., Class A *
    18,505       96,966  
Synageva BioPharma Corp. *
    3,930       192,295  
Synergy Pharmaceuticals, Inc. *(a)
    19,684       109,443  
Targacept, Inc. *
    12,454       53,428  
TESARO, Inc. *(a)
    1,965       36,372  
The Medicines Co. *
    23,238       498,920  
Theravance, Inc. *
    29,543       664,127  
Threshold Pharmaceuticals, Inc. *
    16,540       73,107  
Vanda Pharmaceuticals, Inc. *
    13,082       45,525  
ViroPharma, Inc. *
    29,936       742,113  
VIVUS, Inc. *(a)
    43,725       494,092  
XenoPort, Inc. *
    18,898       148,349  
ZIOPHARM Oncology, Inc. *(a)
    30,961       135,609  
                 
              35,189,027  
 
Real Estate 10.3%
Acadia Realty Trust
    21,649       537,328  
AG Mortgage Investment Trust, Inc.
    9,449       232,729  
Alexander & Baldwin, Inc. *
    18,704       558,501  
Alexander’s, Inc.
    903       400,029  
American Assets Trust, Inc.
    14,575       396,877  
American Capital Mortgage Investment Corp.
    14,439       368,772  
American Realty Capital Trust, Inc.
    68,928       803,700  
AmREIT, Inc., Class B
    786       12,985  
Anworth Mortgage Asset Corp.
    61,051       360,201  
Apartment Investment & Management Co., Class A
    63,426       1,590,090  
Apollo Residential Mortgage, Inc.
    10,235       221,997  
ARMOUR Residential REIT, Inc.
    134,758       943,306  
Ashford Hospitality Trust
    27,561       249,427  
Associated Estates Realty Corp.
    21,273       321,860  
AV Homes, Inc. *
    4,368       57,789  
BioMed Realty Trust, Inc.
    67,356       1,297,950  
Brandywine Realty Trust
    63,749       760,526  
Campus Crest Communities, Inc.
    16,933       193,714  
CapLease, Inc.
    29,543       138,261  
Capstead Mortgage Corp.
    45,517       552,576  
CBL & Associates Properties, Inc.
    67,910       1,528,654  
Cedar Realty Trust, Inc.
    24,042       130,308  
Chesapeake Lodging Trust
    18,277       344,887  
Colonial Properties Trust
    36,241       739,316  
Colony Financial, Inc.
    14,547       291,231  
CommonWealth REIT
    37,236       563,381  
Coresite Realty Corp.
    9,056       231,834  
Corporate Office Properties Trust
    35,036       864,688  
Cousins Properties, Inc.
    37,894       311,110  
CreXus Investment Corp.
    33,473       418,078  
CubeSmart
    50,423       695,837  
CYS Investments, Inc.
    76,465       977,987  
DCT Industrial Trust, Inc.
    111,984       699,900  
DiamondRock Hospitality Co.
    83,227       727,404  
Douglas Emmett, Inc.
    56,728       1,288,293  
Duke Realty Corp.
    117,779       1,590,016  
DuPont Fabros Technology, Inc.
    27,561       636,383  
EastGroup Properties, Inc.
    12,547       655,957  
Education Realty Trust, Inc.
    49,244       507,706  
EPR Properties
    20,754       941,194  
Equity Lifestyle Properties, Inc.
    16,933       1,111,482  
Equity One, Inc.
    27,420       566,771  
Excel Trust, Inc.
    19,769       235,251  
Extra Space Storage, Inc.
    45,506       1,599,536  
FelCor Lodging Trust, Inc. *
    48,048       201,802  
First Industrial Realty Trust, Inc. *
    38,992       514,694  
First Potomac Realty Trust
    22,223       260,676  
Forest City Enterprises, Inc., Class A *
    59,659       897,868  
Forestar Group, Inc. *
    15,361       227,036  
Franklin Street Properties Corp.
    32,772       378,517  
Getty Realty Corp. (a)
    12,840       216,226  
Glimcher Realty Trust
    62,026       664,919  
Government Properties Income Trust (a)
    20,142       464,273  
Hatteras Financial Corp.
    42,939       1,144,754  
Healthcare Realty Trust, Inc.
    38,792       925,189  
Healthcare Trust of America, Inc.
    25,631       276,046  
Hersha Hospitality Trust
    78,273       367,100  
Highwoods Properties, Inc.
    33,080       1,066,499  
Home Properties, Inc.
    21,666       1,275,911  
Hospitality Properties Trust
    53,960       1,224,892  
Hudson Pacific Properties, Inc.
    12,200       236,314  
Inland Real Estate Corp.
    34,857       277,810  
Invesco Mortgage Capital, Inc.
    50,423       1,067,455  
 
 
 
 11

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Investors Real Estate Trust
    41,403       351,511  
iStar Financial, Inc. *
    32,294       247,049  
Kennedy-Wilson Holdings, Inc.
    18,112       237,267  
Kilroy Realty Corp.
    32,294       1,456,459  
Kite Realty Group Trust
    26,894       143,614  
LaSalle Hotel Properties
    37,893       913,600  
Lexington Realty Trust
    60,856       583,609  
LTC Properties, Inc.
    13,492       441,458  
Mack-Cali Realty Corp.
    36,634       926,108  
Medical Properties Trust, Inc.
    60,295       703,643  
MFA Financial, Inc.
    155,609       1,308,672  
Mid-America Apartment Communities, Inc.
    17,719       1,104,248  
Monmouth Real Estate Investment Corp.
    16,419       172,400  
National Health Investors, Inc.
    10,409       577,700  
National Retail Properties, Inc.
    47,262       1,451,889  
NorthStar Realty Finance Corp.
    59,479       400,294  
OMEGA Healthcare Investors, Inc.
    47,262       1,083,245  
Parkway Properties, Inc.
    9,842       132,276  
Pebblebrook Hotel Trust
    25,596       533,677  
Pennsylvania REIT
    22,845       380,598  
Pennymac Mortgage Investment Trust
    23,499       579,250  
Post Properties, Inc.
    23,713       1,165,020  
Potlatch Corp.
    17,784       692,687  
PS Business Parks, Inc.
    7,877       507,988  
Ramco-Gershenson Properties Trust
    19,613       262,422  
Redwood Trust, Inc.
    34,259       572,810  
Resource Capital Corp.
    38,599       228,506  
Retail Opportunity Investments Corp. (a)
    19,684       249,790  
Retail Properties of America, Inc., Class A
    14,182       174,155  
RLJ Lodging Trust
    46,476       863,989  
Rouse Properties, Inc.
    10,099       151,485  
Sabra Health Care REIT, Inc.
    16,388       355,620  
Saul Centers, Inc.
    5,502       234,385  
Select Income REIT
    3,593       89,789  
Sovran Self Storage, Inc.
    12,901       797,153  
Spirit Realty Capital, Inc. *
    12,581       204,190  
STAG Industrial, Inc.
    14,575       274,739  
Starwood Property Trust, Inc.
    59,653       1,363,668  
Strategic Hotels & Resorts, Inc. *
    78,001       485,946  
Summit Hotel Properties, Inc.
    21,261       186,672  
Sun Communities, Inc.
    12,682       489,525  
Sunstone Hotel Investors, Inc. *
    59,872       617,879  
Tanger Factory Outlet Centers
    40,957       1,346,666  
Tejon Ranch Co. *
    6,516       181,796  
The Howard Hughes Corp. *
    12,200       898,896  
The St. Joe Co. *
    40,833       873,010  
Two Harbors Investment Corp.
    132,042       1,494,715  
Universal Health Realty Income Trust
    5,253       256,031  
Urstadt Biddle Properties, Inc., Class A
    11,936       224,277  
Washington REIT
    28,757       745,381  
Weingarten Realty Investors
    48,441       1,316,626  
Winthrop Realty Trust
    14,920       167,253  
WP Carey, Inc.
    24,991       1,212,563  
Zillow, Inc., Class A *(a)
    5,234       144,040  
                 
              71,902,042  
 
Retailing 4.4%
1-800-FLOWERS.COM, Inc., Class A *
    10,676       33,416  
Aaron’s, Inc.
    30,722       881,721  
Aeropostale, Inc. *
    35,951       496,483  
America’s Car-Mart, Inc. *
    3,537       130,515  
Ann, Inc. *
    20,863       699,954  
Asbury Automotive Group, Inc. *
    13,772       415,777  
Ascena Retail Group, Inc. *
    53,567       1,076,697  
Barnes & Noble, Inc. *(a)
    18,399       264,026  
bebe stores, Inc.
    15,913       59,833  
Big 5 Sporting Goods Corp.
    8,927       124,978  
Big Lots, Inc. *
    25,989       731,850  
Blue Nile, Inc. *(a)
    6,027       237,102  
Body Central Corp. *
    5,759       58,915  
Brown Shoe Co., Inc.
    18,505       352,520  
Cabela’s, Inc. *
    20,077       959,078  
CafePress, Inc. *(a)
    2,070       12,068  
Chico’s FAS, Inc.
    72,482       1,351,789  
Citi Trends, Inc. *
    6,599       92,122  
Conn’s, Inc. *
    7,877       222,762  
Core-Mark Holding Co., Inc.
    5,056       231,312  
DSW, Inc., Class A
    13,772       936,909  
Express, Inc. *
    41,415       618,326  
Five Below, Inc. *
    4,323       160,599  
Francesca’s Holdings Corp. *(a)
    14,575       379,387  
Fred’s, Inc., Class A
    15,405       204,886  
GameStop Corp., Class A (a)
    52,781       1,385,501  
Genesco, Inc. *
    10,763       595,517  
Gordmans Stores, Inc. *
    3,785       54,731  
Group 1 Automotive, Inc.
    9,449       574,121  
Guess?, Inc.
    27,982       723,894  
Haverty Furniture Cos., Inc.
    9,067       151,872  
hhgregg, Inc. *(a)
    9,652       71,425  
Hibbett Sports, Inc. *
    11,713       629,457  
HomeAway, Inc. *
    13,143       269,169  
Hot Topic, Inc.
    18,020       179,840  
HSN, Inc.
    16,147       854,015  
Jos. A. Bank Clothiers, Inc. *
    12,215       526,466  
Kayak Software Corp. *
    1,572       63,980  
Kirkland’s, Inc. *
    7,256       65,957  
Liberty Ventures, Series A *
    11,807       691,300  
Lithia Motors, Inc., Class A
    8,206       293,611  
Lumber Liquidators Holdings, Inc. *
    11,414       612,704  
MarineMax, Inc. *
    10,393       85,846  
Mattress Firm Holding Corp. *(a)
    3,144       89,950  
Monro Muffler Brake, Inc.
    12,593       403,983  
New York & Co., Inc. *
    11,611       43,193  
NutriSystem, Inc.
    12,626       100,882  
Office Depot, Inc. *
    124,311       417,685  
OfficeMax, Inc.
    40,957       409,570  
Orbitz Worldwide, Inc. *
    10,159       23,467  
Overstock.com, Inc. *(a)
    5,311       80,568  
Pacific Sunwear Of California, Inc. *(a)
    29,729       45,188  
Penske Automotive Group, Inc.
    18,505       539,051  
PetMed Express, Inc.
    8,399       96,924  
Pier 1 Imports, Inc.
    46,869       899,416  
Pool Corp.
    20,470       857,488  
RadioShack Corp. (a)
    44,222       89,771  
Rent-A-Center, Inc.
    25,596       889,717  
 
 
 
12 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Restoration Hardware Holdings, Inc. *
    2,256       83,246  
rue21, Inc. *
    7,091       203,583  
Saks, Inc. *(a)
    44,904       471,492  
Select Comfort Corp. *
    24,873       666,099  
Shoe Carnival, Inc.
    6,510       143,936  
Shutterfly, Inc. *
    13,379       360,564  
Sonic Automotive, Inc., Class A
    15,544       306,839  
Stage Stores, Inc.
    13,540       350,280  
Stein Mart, Inc. *
    11,590       98,979  
Systemax, Inc. *
    4,878       50,243  
Teavana Holdings, Inc. *
    3,101       45,740  
The Buckle, Inc. (a)
    12,215       624,797  
The Cato Corp., Class A
    12,311       357,758  
The Children’s Place Retail Stores, Inc. *
    10,628       516,627  
The Finish Line, Inc., Class A
    23,059       475,707  
The Men’s Wearhouse, Inc.
    20,863       676,796  
The Pep Boys-Manny, Moe & Jack
    23,291       246,186  
The Wet Seal, Inc., Class A *
    40,304       118,494  
Tile Shop Holdings, Inc. *(a)
    14,159       221,872  
Tilly’s, Inc. *
    3,308       43,765  
Vitamin Shoppe, Inc. *
    12,593       746,261  
VOXX International Corp. *
    8,614       58,058  
Weyco Group, Inc.
    3,388       79,720  
Zumiez, Inc. *
    9,493       196,315  
                 
              30,692,641  
 
Semiconductors & Semiconductor Equipment 3.0%
Advanced Energy Industries, Inc. *
    16,040       205,152  
Amkor Technology, Inc. *(a)
    35,946       152,771  
Applied Micro Circuits Corp. *
    27,248       186,104  
ATMI, Inc. *
    13,957       278,023  
Brooks Automation, Inc.
    29,396       226,349  
Cabot Microelectronics Corp.
    10,235       333,866  
Cavium, Inc. *
    21,541       758,889  
CEVA, Inc. *
    10,659       161,058  
Cirrus Logic, Inc. *
    28,364       888,360  
Cohu, Inc.
    10,000       97,000  
Cymer, Inc. *
    13,801       1,210,348  
Cypress Semiconductor Corp. *
    59,479       603,712  
Diodes, Inc. *
    15,494       234,579  
DSP Group, Inc. *
    9,094       53,836  
Entegris, Inc. *
    60,552       542,546  
Entropic Communications, Inc. *
    38,343       199,000  
Exar Corp. *
    20,888       171,282  
Fairchild Semiconductor International, Inc. *
    55,139       735,554  
First Solar, Inc. *(a)
    25,012       675,074  
FormFactor, Inc. *
    25,989       115,131  
GT Advanced Technologies, Inc. *
    51,995       175,223  
Hittite Microwave Corp. *
    11,807       716,449  
Inphi Corp. *
    7,484       58,375  
Integrated Device Technology, Inc. *
    63,261       396,646  
Intermolecular, Inc. *
    6,432       45,024  
International Rectifier Corp. *
    30,885       527,516  
Intersil Corp., Class A
    56,412       402,218  
IXYS Corp.
    11,215       90,842  
Kopin Corp. *
    30,134       96,730  
Kulicke & Soffa Industries, Inc. *
    32,738       374,195  
Lattice Semiconductor Corp. *
    53,788       213,000  
LTX-Credence Corp. *
    21,969       124,784  
M/A-COM Technology Solutions Holdings, Inc. *
    3,733       52,710  
MaxLinear, Inc., Class A *
    7,558       40,586  
MEMC Electronic Materials, Inc. *
    102,134       299,253  
Micrel, Inc.
    20,863       200,493  
Microsemi Corp. *
    38,599       738,785  
MIPS Technologies, Inc. *
    21,291       160,534  
MKS Instruments, Inc.
    23,353       566,310  
Monolithic Power Systems, Inc. *
    13,379       283,100  
Nanometrics, Inc. *
    9,354       135,259  
NeoPhotonics Corp. *
    7,031       37,756  
OmniVision Technologies, Inc. *
    22,845       344,960  
Peregrine Semiconductor Corp. *
    2,751       46,574  
Pericom Semiconductor Corp. *
    10,569       79,479  
Photronics, Inc. *
    26,072       134,271  
PMC-Sierra, Inc. *
    85,790       441,819  
Power Integrations, Inc.
    12,468       387,879  
Rambus, Inc. *
    44,571       217,952  
RF Micro Devices, Inc. *
    123,117       531,865  
Rubicon Technology, Inc. *(a)
    8,133       52,214  
Rudolph Technologies, Inc. *
    14,257       157,682  
Semtech Corp. *
    29,096       795,776  
Sigma Designs, Inc. *
    13,988       80,431  
Silicon Image, Inc. *
    35,251       164,270  
Silicon Laboratories, Inc. *
    16,540       691,703  
Spansion, Inc., Class A *
    21,363       250,374  
STR Holdings, Inc. *(a)
    18,505       43,857  
SunPower Corp. *
    13,379       61,543  
Supertex, Inc. *
    4,625       84,083  
Teradyne, Inc. *
    81,931       1,281,401  
Tessera Technologies, Inc.
    23,079       375,034  
TriQuint Semiconductor, Inc. *
    73,414       371,475  
Ultratech, Inc. *
    11,433       375,231  
Veeco Instruments, Inc. *
    17,222       490,138  
Volterra Semiconductor Corp. *
    11,021       193,529  
                 
              21,217,962  
 
Software & Services 7.6%
Accelrys, Inc. *
    24,526       216,074  
ACI Worldwide, Inc. *
    16,933       729,982  
Actuate Corp. *
    21,159       112,777  
Acxiom Corp. *
    32,687       578,233  
Advent Software, Inc. *
    14,250       317,205  
Ancestry.com, Inc. *
    12,375       391,050  
Angie’s List, Inc. *(a)
    14,575       161,928  
AOL, Inc. *
    35,808       1,343,516  
Aspen Technology, Inc. *
    41,913       1,089,319  
Bankrate, Inc. *
    17,326       208,432  
Bazaarvoice, Inc. *(a)
    13,379       130,847  
Blackbaud, Inc.
    19,859       443,650  
Blucora, Inc. *
    17,326       255,558  
Booz Allen Hamilton Holding Corp.
    16,933       237,231  
Bottomline Technologies, Inc. *
    16,147       395,763  
Brightcove, Inc. *
    6,288       61,119  
BroadSoft, Inc. *
    12,200       385,886  
CACI International, Inc., Class A *
    9,842       503,418  
Cadence Design Systems, Inc. *
    119,761       1,524,558  
Carbonite, Inc. *(a)
    6,453       61,562  
Cardtronics, Inc. *
    19,292       442,558  
Cass Information Systems, Inc.
    4,200       197,358  
 
 
 
 13

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
CIBER, Inc. *
    28,109       85,451  
CommVault Systems, Inc. *
    18,157       1,204,899  
Compuware Corp. *
    94,148       880,284  
comScore, Inc. *
    14,182       188,762  
Comverse Technology, Inc. *
    97,379       346,669  
Comverse, Inc. *
    9,738       280,162  
Constant Contact, Inc. *
    13,379       178,208  
Convergys Corp.
    49,244       768,699  
CoreLogic, Inc. *
    41,365       1,068,872  
Cornerstone OnDemand, Inc. *
    13,379       375,147  
CoStar Group, Inc. *
    11,414       991,420  
CSG Systems International, Inc. *
    14,968       278,105  
DealerTrack Holdings, Inc. *
    18,905       508,355  
Demand Media, Inc. *
    15,302       136,188  
Demandware, Inc. *(a)
    3,537       96,878  
Dice Holdings, Inc. *
    22,059       189,707  
Digital River, Inc. *
    16,618       242,789  
DST Systems, Inc.
    13,379       771,166  
E2open, Inc. *
    786       11,090  
EarthLink, Inc.
    48,051       317,137  
Ebix, Inc. (a)
    13,772       231,507  
Ellie Mae, Inc. *
    4,323       107,297  
Eloqua, Inc. *
    4,103       74,059  
Envestnet, Inc. *
    9,918       137,860  
EPAM Systems, Inc. *
    6,288       129,344  
EPIQ Systems, Inc.
    13,772       165,126  
Euronet Worldwide, Inc. *
    20,863       464,410  
ExactTarget, Inc. *
    10,235       210,943  
Exlservice Holdings, Inc. *
    11,414       306,466  
Fair Isaac Corp.
    14,575       624,101  
FleetCor Technologies, Inc. *
    17,719       924,755  
Forrester Research, Inc.
    6,350       177,863  
Global Cash Access Holdings, Inc. *
    28,757       226,318  
Guidewire Software, Inc. *
    11,807       353,029  
Heartland Payment Systems, Inc.
    17,909       530,644  
Higher One Holdings, Inc. *(a)
    14,182       125,369  
iGate Corp. *
    13,974       209,470  
Imperva, Inc. *
    4,716       145,064  
Infoblox, Inc. *
    16,147       306,147  
Interactive Intelligence Group, Inc. *
    6,288       201,971  
Internap Network Services Corp. *
    23,637       141,113  
IntraLinks Holdings, Inc. *
    16,072       105,914  
j2 Global, Inc.
    18,898       571,476  
Jack Henry & Associates, Inc.
    37,813       1,469,791  
JDA Software Group, Inc. *
    18,816       840,323  
Jive Software, Inc. *
    10,235       147,998  
Kenexa Corp. *
    10,580       485,834  
Keynote Systems, Inc.
    6,750       91,868  
KIT Digital, Inc. *(a)
    19,134       14,446  
Lender Processing Services, Inc.
    37,571       933,639  
Limelight Networks, Inc. *
    27,561       53,468  
Lionbridge Technologies, Inc. *
    25,769       105,911  
Liquidity Services, Inc. *
    10,235       420,249  
LivePerson, Inc. *
    21,666       285,775  
LogMeIn, Inc. *
    9,855       210,897  
Manhattan Associates, Inc. *
    8,663       495,870  
ManTech International Corp., Class A
    9,868       246,503  
Marchex, Inc., Class B
    10,342       43,023  
MAXIMUS, Inc.
    15,023       946,299  
Mentor Graphics Corp. *
    42,029       627,493  
MicroStrategy, Inc., Class A *
    3,930       347,766  
Millennial Media, Inc. *
    4,252       58,465  
ModusLink Global Solutions, Inc. *
    19,339       64,399  
MoneyGram International, Inc. *
    9,501       114,107  
Monotype Imaging Holdings, Inc.
    15,790       241,745  
Monster Worldwide, Inc. *
    51,602       280,715  
Move, Inc. *
    15,957       120,156  
NCI, Inc., Class A *
    3,144       13,205  
Netscout Systems, Inc. *
    15,319       384,813  
NeuStar, Inc., Class A *
    29,150       1,171,830  
NIC, Inc.
    25,989       390,095  
OpenTable, Inc. *(a)
    9,941       446,251  
OPNET Technologies, Inc.
    6,497       269,885  
Parametric Technology Corp. *
    51,995       1,052,379  
Pegasystems, Inc.
    7,157       145,573  
Perficient, Inc. *
    14,182       154,442  
Progress Software Corp. *
    27,618       555,398  
Proofpoint, Inc. *
    5,502       60,522  
PROS Holdings, Inc. *
    8,929       158,311  
QLIK Technologies, Inc. *
    32,294       625,858  
Qualys, Inc. *
    3,331       44,569  
QuinStreet, Inc. *
    12,491       78,069  
RealNetworks, Inc. *
    10,564       76,800  
RealPage, Inc. *
    15,361       303,994  
Responsys, Inc. *
    9,578       62,449  
Rosetta Stone, Inc. *
    5,377       68,718  
Rovi Corp. *
    47,655       731,028  
Saba Software, Inc. *
    12,007       93,895  
Sapient Corp. *
    48,541       514,049  
SciQuest, Inc. *
    7,582       123,511  
SeaChange International, Inc. *
    12,486       115,496  
ServiceSource International, Inc. *
    21,666       111,147  
Sourcefire, Inc. *
    13,119       645,848  
Splunk, Inc. *
    11,414       344,703  
SS&C Technologies Holdings, Inc. *
    18,112       427,262  
Stamps.com, Inc. *
    6,524       165,514  
Synchronoss Technologies, Inc. *
    11,807       215,596  
Syntel, Inc.
    6,824       410,532  
Take-Two Interactive Software, Inc. *
    40,171       496,915  
Tangoe, Inc. *
    13,772       179,587  
TechTarget, Inc. *
    7,364       39,987  
TeleNav, Inc. *
    9,350       75,642  
TeleTech Holdings, Inc. *
    10,793       183,697  
The Active Network, Inc. *
    15,395       82,517  
TiVo, Inc. *
    53,767       629,074  
TNS, Inc. *
    10,845       158,337  
Travelzoo, Inc. *
    3,373       59,230  
Trulia, Inc. *(a)
    2,591       46,068  
Tyler Technologies, Inc. *
    11,414       535,545  
Ultimate Software Group, Inc. *
    11,807       1,115,880  
Unisys Corp. *
    19,291       333,348  
United Online, Inc.
    39,293       224,756  
ValueClick, Inc. *
    30,722       579,724  
VASCO Data Security International, Inc. *
    11,611       87,199  
Verint Systems, Inc. *
    9,845       273,396  
VirnetX Holding Corp. *(a)
    18,505       637,867  
Virtusa Corp. *
    9,349       146,405  
Vocus, Inc. *
    9,172       156,474  
Web.com Group, Inc. *
    13,658       206,372  
WebMD Health Corp. *
    24,576       345,293  
Websense, Inc. *
    16,147       225,412  
WEX, Inc. *
    16,933       1,218,499  
 
 
 
14 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Workday, Inc., Class A *
    9,621       482,012  
XO Group, Inc. *
    11,112       87,785  
Yelp, Inc. *(a)
    7,091       134,091  
Zynga, Inc., Class A *
    202,085       497,129  
                 
              53,024,981  
 
Technology Hardware & Equipment 5.0%
3D Systems Corp. *(a)
    20,863       932,785  
Acme Packet, Inc. *
    24,865       496,057  
ADTRAN, Inc. (a)
    27,561       541,298  
Aeroflex Holding Corp. *
    7,907       51,237  
Anaren, Inc. *
    5,895       114,894  
Anixter International, Inc.
    12,200       745,176  
Arris Group, Inc. *
    49,244       687,939  
Aruba Networks, Inc. *
    46,476       905,352  
Audience, Inc. *
    2,376       20,552  
Aviat Networks, Inc. *
    25,257       69,457  
Avid Technology, Inc. *
    12,986       84,799  
AVX Corp.
    20,863       212,803  
Badger Meter, Inc.
    6,288       283,337  
Bel Fuse, Inc., Class B
    5,009       79,593  
Benchmark Electronics, Inc. *
    24,417       379,440  
Black Box Corp.
    7,880       194,242  
Brocade Communications Systems, Inc. *
    200,906       1,141,146  
Calix, Inc. *
    15,633       115,372  
Checkpoint Systems, Inc. *
    18,145       156,954  
Ciena Corp. *
    44,118       656,476  
Cognex Corp.
    17,211       616,498  
Coherent, Inc. *
    10,235       473,369  
Comtech Telecommunications Corp.
    8,355       213,554  
CTS Corp.
    15,132       134,070  
Daktronics, Inc.
    16,540       173,008  
Diebold, Inc.
    27,561       824,349  
Digi International, Inc. *
    11,249       109,678  
DTS, Inc. *
    8,270       126,366  
Echelon Corp. *
    14,052       42,015  
EchoStar Corp., Class A *
    16,933       531,019  
Electro Rent Corp.
    7,942       124,769  
Electro Scientific Industries, Inc.
    10,982       119,045  
Electronics for Imaging, Inc. *
    20,819       382,237  
Emulex Corp. *
    38,066       279,785  
Extreme Networks, Inc. *
    41,151       148,144  
Fabrinet *
    8,591       106,700  
FARO Technologies, Inc. *
    7,484       264,035  
FEI Co.
    16,540       910,196  
Finisar Corp. *
    39,924       541,769  
Fusion-io, Inc. *(a)
    29,150       680,069  
Harmonic, Inc. *
    51,341       235,142  
Imation Corp. *
    13,379       57,262  
Infinera Corp. *
    48,785       272,220  
Ingram Micro, Inc., Class A *
    65,391       1,059,334  
Insight Enterprises, Inc. *
    19,523       330,720  
InterDigital, Inc. (a)
    18,505       789,793  
Intermec, Inc. *
    22,122       167,021  
Intevac, Inc. *
    9,537       45,110  
InvenSense, Inc. *
    15,193       152,690  
IPG Photonics Corp. *
    12,593       744,246  
Itron, Inc. *
    17,326       758,879  
Ixia *
    22,845       343,132  
KEMET Corp. *
    19,561       86,460  
Lexmark International, Inc., Class A (a)
    30,722       747,466  
Littelfuse, Inc.
    9,449       545,302  
Loral Space & Communications, Inc.
    5,408       460,059  
Maxwell Technologies, Inc. *
    12,655       91,749  
Measurement Specialties, Inc. *
    6,308       195,863  
Mercury Systems, Inc. *
    13,610       119,632  
Methode Electronics, Inc.
    16,147       145,807  
MTS Systems Corp.
    7,091       342,850  
Multi-Fineline Electronix, Inc. *
    4,369       74,666  
National Instruments Corp.
    41,350       1,005,632  
NETGEAR, Inc. *
    16,676       581,325  
Newport Corp. *
    16,668       212,350  
Oclaro, Inc. *
    38,206       70,299  
OCZ Technology Group, Inc. *(a)
    29,278       48,894  
Oplink Communications, Inc. *
    8,496       131,688  
OSI Systems, Inc. *
    8,270       506,786  
Park Electrochemical Corp.
    8,359       203,709  
Plantronics, Inc.
    18,505       622,323  
Plexus Corp. *
    15,417       356,904  
Polycom, Inc. *
    76,805       803,380  
Power-One, Inc. *
    53,174       220,672  
QLogic Corp. *
    40,957       388,272  
Quantum Corp. *
    103,104       123,725  
RealD, Inc. *(a)
    18,698       197,451  
Rofin-Sinar Technologies, Inc. *
    12,456       263,444  
Rogers Corp. *
    7,107       315,764  
Sanmina Corp. *
    35,869       337,886  
ScanSource, Inc. *
    11,807       348,897  
ShoreTel, Inc. *
    22,845       98,690  
Silicon Graphics International Corp. *(a)
    14,182       118,987  
Sonus Networks, Inc. *
    121,726       203,282  
STEC, Inc. *
    16,592       81,467  
Super Micro Computer, Inc. *
    11,414       106,493  
Sycamore Networks, Inc.
    8,490       22,838  
Symmetricom, Inc. *
    18,940       112,693  
Synaptics, Inc. *
    14,575       389,444  
SYNNEX Corp. *
    11,807       389,867  
Tech Data Corp. *
    16,540       730,572  
Tellabs, Inc.
    147,980       526,809  
TTM Technologies, Inc. *
    24,157       217,896  
Ubiquiti Networks, Inc. *
    1,913       22,478  
Universal Display Corp. *(a)
    17,919       427,906  
ViaSat, Inc. *
    17,326       662,373  
Viasystems Group, Inc. *
    1,902       22,310  
Vishay Intertechnology, Inc. *
    57,907       561,698  
Vishay Precision Group, Inc. *
    5,826       71,077  
Zebra Technologies Corp., Class A *
    22,452       874,505  
                 
              34,815,773  
 
Telecommunication Services 0.8%
Alaska Communications Systems Group, Inc. (a)
    18,539       40,971  
Atlantic Tele-Network, Inc.
    4,323       159,432  
Boingo Wireless, Inc. *
    5,687       40,321  
Cbeyond, Inc. *
    13,772       102,326  
Cincinnati Bell, Inc. *
    85,878       457,730  
Clearwire Corp., Class A *
    175,703       407,631  
Cogent Communications Group, Inc.
    18,898       399,504  
 
 
 
 15

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Consolidated Communications Holdings, Inc.
    16,933       254,672  
Elephant Talk Communications, Inc. *(a)
    38,704       45,671  
Fairpoint Communications, Inc. *(a)
    8,117       60,796  
General Communication, Inc., Class A *
    15,755       132,815  
Globalstar, Inc. *(a)
    46,742       18,229  
Hawaiian Telcom Holdco, Inc. *
    4,207       75,516  
IDT Corp., Class B
    6,861       62,915  
Iridium Communications, Inc. *
    25,364       156,496  
Leap Wireless International, Inc. *(a)
    23,238       151,047  
Lumos Networks Corp.
    6,422       62,871  
Neutral Tandem, Inc.
    14,261       38,362  
NII Holdings, Inc. *(a)
    70,910       359,514  
NTELOS Holdings Corp.
    6,422       82,844  
Premiere Global Services, Inc. *
    22,299       189,319  
Shenandoah Telecommunications Co.
    11,191       155,555  
tw telecom, Inc. *
    66,177       1,700,087  
USA Mobility, Inc.
    9,843       113,785  
Vonage Holdings Corp. *
    63,873       155,211  
                 
              5,423,620  
 
Transportation 2.4%
Air Transport Services Group, Inc. *
    24,880       94,295  
Alaska Air Group, Inc. *
    30,722       1,313,365  
Allegiant Travel Co.
    6,681       494,528  
AMERCO
    3,144       377,311  
Arkansas Best Corp.
    11,534       95,502  
Atlas Air Worldwide Holdings, Inc. *
    11,414       493,998  
Avis Budget Group, Inc. *
    46,476       880,255  
Celadon Group, Inc.
    9,056       156,488  
Con-way, Inc.
    24,764       695,621  
Echo Global Logistics, Inc. *
    6,625       116,401  
Forward Air Corp.
    12,709       422,574  
Genco Shipping & Trading Ltd. *(a)
    14,347       38,450  
Genesee & Wyoming, Inc., Class A *
    18,656       1,360,955  
Hawaiian Holdings, Inc. *
    22,796       142,247  
Heartland Express, Inc.
    20,077       275,657  
Hub Group, Inc., Class A *
    15,361       497,236  
JetBlue Airways Corp. *
    99,667       512,288  
Kirby Corp. *
    24,417       1,413,256  
Knight Transportation, Inc.
    25,071       376,817  
Landstar System, Inc.
    20,470       1,035,168  
Marten Transport Ltd.
    6,902       130,586  
Matson, Inc.
    18,704       430,192  
Old Dominion Freight Line, Inc. *
    30,722       1,027,344  
Pacer International, Inc. *
    15,486       53,736  
Patriot Transportation Holding, Inc. *
    2,751       71,113  
Republic Airways Holdings, Inc. *
    18,112       105,231  
Roadrunner Transportation Systems, Inc. *
    5,566       100,244  
Ryder System, Inc.
    22,452       1,056,816  
SkyWest, Inc.
    22,579       261,691  
Spirit Airlines, Inc. *
    20,895       350,618  
Swift Transportation Co. *
    36,190       306,167  
Universal Truckload Services, Inc.
    2,520       39,085  
US Airways Group, Inc. *
    71,768       925,089  
UTI Worldwide, Inc.
    45,251       638,944  
Werner Enterprises, Inc.
    19,291       418,422  
Wesco Aircraft Holdings, Inc. *
    7,460       95,190  
Zipcar, Inc. *(a)
    11,374       92,471  
                 
              16,895,351  
 
Utilities 3.1%
ALLETE, Inc.
    15,126       593,090  
American States Water Co.
    8,270       376,285  
Avista Corp.
    25,596       606,881  
Black Hills Corp.
    18,505       660,443  
California Water Service Group
    18,458       332,244  
CH Energy Group, Inc.
    6,681       435,668  
Chesapeake Utilities Corp.
    4,218       189,810  
Cleco Corp.
    26,382       1,062,931  
Connecticut Water Service, Inc.
    3,803       117,285  
Dynegy, Inc. *(a)
    36,631       677,674  
El Paso Electric Co.
    16,794       534,889  
Genie Energy Ltd., Class B
    7,656       52,290  
GenOn Energy, Inc. *
    338,403       862,928  
Great Plains Energy, Inc.
    67,140       1,359,585  
Hawaiian Electric Industries, Inc.
    42,546       1,059,821  
IDACORP, Inc.
    22,136       945,429  
MGE Energy, Inc.
    10,235       517,379  
Middlesex Water Co.
    6,779       126,835  
New Jersey Resources Corp.
    18,112       734,985  
Northwest Natural Gas Co.
    11,829       518,820  
NorthWestern Corp.
    16,147       560,139  
Ormat Technologies, Inc.
    7,968       146,771  
Otter Tail Corp.
    15,754       381,719  
Piedmont Natural Gas Co., Inc.
    31,508       972,337  
PNM Resources, Inc.
    35,062       740,860  
Portland General Electric Co.
    33,361       901,748  
SJW Corp.
    5,939       145,268  
South Jersey Industries, Inc.
    13,244       661,803  
Southwest Gas Corp.
    20,077       842,029  
The Empire District Electric Co.
    18,558       371,160  
The Laclede Group, Inc.
    9,349       380,598  
UIL Holdings Corp.
    21,261       762,632  
Unitil Corp.
    5,913       152,555  
UNS Energy Corp.
    17,940       763,885  
Vectren Corp.
    35,848       1,048,554  
WGL Holdings, Inc.
    22,852       892,599  
                 
              21,489,929  
                 
Total Common Stock
(Cost $674,198,851)     692,676,850  
         
                 
                 
 
 Rights 0.0% of net assets
 
Materials 0.0%
McEwen Mining, Inc. *
    109,208       16,927  
 
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Forest Laboratories, Inc. *(b)(c)
    5,521       —  
                 
Total Rights
(Cost $—)     16,927  
         
                 
                 
 
 
 
16 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Other Investment Company 0.1% of net assets
 
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund
    754,449       754,449  
                 
Total Other Investment Company
(Cost $754,449)     754,449  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 2.9% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    20,364,634       20,364,634  
                 
Total Collateral Invested for Securities on Loan
(Cost $20,364,634)     20,364,634  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $676,882,210 and the unrealized appreciation and depreciation were $77,719,707 and ($61,153,691), respectively, with a net unrealized appreciation of $16,566,016.
 
* Non-income producing security.
(a) All or a portion of this security is on loan.
(b) Fair-valued by management in accordance with procedures approved by the Board of Trustees.
(c) Illiquid security. At the period end, the value of these amounted to $0 or 0% of net assets.
 
     
REIT —
  Real Estate Investment Trust
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that
 
 
 
 17

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $692,676,850       $—       $—       $692,676,850  
Rights1
    16,927       —       —       16,927  
Other Investment Company1
    754,449       —       —       754,449  
                                 
Total
    $693,448,226       $—       $—       $693,448,226  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $20,364,634       $—       $—       $20,364,634  
 
     
1
  As categorized in Portfolio Holdings.
 
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
 
                                                                 
    Balance
 		      Change in
 		                  Balance
    as of
 		  Realized
 		  Unrealized
 		          Gross
 		  Gross
 		  as of
    August 31,
 		  Gains
 		  Gains
 		  Gross
 		  Gross
 		  Transfers
 		  Transfers
 		  November 30,
Investments in Securities
 
2012
 
(Losses)
 
(Losses)
 
Purchases
 
Sales
 
in
 
out
 
2012
 
Rights
    $47,346       $—       ($47,346 )     $—       $—       $—       $—       $—  
                                                                 
Total
    $47,346       $—       ($47,346 )     $—       $—       $—       $—       $—  
                                                                 
 
 
 
18 

 

 
 Schwab U.S. Small-Cap ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG54091NOV12
 
 
 
 19

 

Schwab Strategic Trust
Schwab U.S. Dividend Equity ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  99 .5%   Common Stock     537,165,273       555,948,123  
  0 .0%   Other Investment Company     138,321       138,321  
 
 
  99 .5%   Total Investments     537,303,594       556,086,444  
  0 .5%   Other Assets and
Liabilities, Net 		            2,647,759  
 
 
  100 .0%   Net Assets             558,734,203  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 99.5% of net assets
 
Banks 0.0%
First Financial Bancorp
    13,340       193,830  
 
Capital Goods 14.4%
3M Co.
    131,768       11,984,300  
Eaton Corp. plc *
    69,642       3,632,527  
Emerson Electric Co.
    150,535       7,561,373  
General Dynamics Corp.
    68,490       4,554,585  
Honeywell International, Inc.
    161,698       9,916,938  
Illinois Tool Works, Inc.
    89,362       5,502,018  
Lockheed Martin Corp.
    55,547       5,182,535  
Northrop Grumman Corp.
    50,999       3,401,633  
Raytheon Co.
    68,747       3,927,516  
The Boeing Co.
    139,978       10,397,566  
United Technologies Corp.
    173,604       13,907,416  
Watsco, Inc.
    6,114       438,313  
                 
              80,406,720  
 
Commercial & Professional Services 0.5%
Waste Management, Inc.
    90,321       2,941,755  
 
Consumer Durables & Apparel 1.1%
Hasbro, Inc.
    24,242       932,347  
Leggett & Platt, Inc.
    29,852       831,378  
Mattel, Inc.
    70,692       2,651,657  
Polaris Industries, Inc.
    13,299       1,127,888  
Tupperware Brands Corp.
    11,269       730,795  
                 
              6,274,065  
 
Consumer Services 3.7%
Darden Restaurants, Inc.
    26,588       1,405,974  
H&R Block, Inc.
    55,806       1,006,182  
McDonald’s Corp.
    208,895       18,182,221  
Strayer Education, Inc.
    2,737       143,227  
                 
              20,737,604  
 
Diversified Financials 0.9%
Eaton Vance Corp.
    23,981       764,514  
Federated Investors, Inc., Class B
    19,285       382,807  
T. Rowe Price Group, Inc.
    52,650       3,404,876  
Waddell & Reed Financial, Inc., Class A
    17,610       572,149  
                 
              5,124,346  
 
Energy 11.2%
Chevron Corp.
    219,129       23,159,744  
ConocoPhillips
    251,413       14,315,456  
Exxon Mobil Corp.
    279,957       24,675,410  
RPC, Inc.
    13,525       156,349  
                 
              62,306,959  
 
Food & Staples Retailing 6.1%
Sysco Corp.
    121,997       3,861,205  
Wal-Mart Stores, Inc.
    339,880       24,478,158  
Walgreen Co.
    177,519       6,019,669  
                 
              34,359,032  
 
Food, Beverage & Tobacco 15.4%
Altria Group, Inc.
    421,015       14,234,517  
Campbell Soup Co.
    37,019       1,360,448  
ConAgra Foods, Inc.
    83,710       2,499,581  
Flowers Foods, Inc.
    23,699       557,874  
General Mills, Inc.
    133,751       5,482,454  
H.J. Heinz Co.
    66,294       3,875,547  
Kellogg Co.
    51,130       2,835,670  
McCormick & Co., Inc. Non Voting Shares
    27,805       1,795,091  
PepsiCo, Inc.
    322,286       22,627,700  
Reynolds American, Inc.
    67,579       2,954,554  
The Coca-Cola Co.
    665,875       25,249,980  
The Hershey Co.
    31,749       2,326,249  
Universal Corp.
    5,274       263,173  
                 
              86,062,838  
 
Health Care Equipment & Services 3.6%
Baxter International, Inc.
    113,390       7,514,355  
Becton, Dickinson & Co.
    41,236       3,161,564  
Medtronic, Inc.
    211,284       8,897,169  
Meridian Bioscience, Inc.
    9,680       193,891  
Owens & Minor, Inc.
    12,994       355,776  
                 
              20,122,755  
 
 
 
 1

 

 
 Schwab U.S. Dividend Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Household & Personal Products 7.9%
Avon Products, Inc.
    89,332       1,246,181  
Colgate-Palmolive Co.
    90,321       9,799,828  
Kimberly-Clark Corp.
    81,780       7,010,182  
The Procter & Gamble Co.
    370,578       25,877,462  
                 
              43,933,653  
 
Insurance 2.0%
Aflac, Inc.
    96,997       5,139,871  
Arthur J. Gallagher & Co.
    24,938       910,736  
Erie Indemnity Co., Class A
    5,092       362,958  
Mercury General Corp.
    7,480       311,317  
The Chubb Corp.
    54,974       4,232,448  
                 
              10,957,330  
 
Materials 4.0%
Air Products & Chemicals, Inc.
    43,670       3,621,990  
E.I. du Pont de Nemours & Co.
    192,372       8,298,928  
Greif, Inc., Class A
    6,219       255,166  
International Paper Co.
    90,195       3,349,842  
PPG Industries, Inc.
    31,676       3,936,377  
RPM International, Inc.
    27,137       787,244  
Sonoco Products Co.
    21,505       646,655  
Southern Copper Corp.
    40,166       1,458,026  
                 
              22,354,228  
 
Media 0.6%
Meredith Corp.
    7,290       227,302  
The McGraw-Hill Cos., Inc.
    57,868       3,073,370  
                 
              3,300,672  
 
Pharmaceuticals, Biotechnology & Life Sciences 12.3%
Abbott Laboratories
    325,022       21,126,430  
Bristol-Myers Squibb Co.
    347,701       11,345,484  
Eli Lilly & Co.
    211,495       10,371,715  
Johnson & Johnson
    370,187       25,813,139  
                 
              68,656,768  
 
Retailing 4.1%
Genuine Parts Co.
    32,453       2,112,366  
RadioShack Corp.
    21,505       43,655  
The Cato Corp., Class A
    6,256       181,800  
The Home Depot, Inc.
    312,233       20,317,001  
                 
              22,654,822  
 
Semiconductors & Semiconductor Equipment 4.4%
Intel Corp.
    1,035,469       20,264,128  
Linear Technology Corp.
    47,563       1,578,616  
Maxim Integrated Products, Inc.
    60,145       1,755,632  
Microchip Technology, Inc.
    40,273       1,225,105  
                 
              24,823,481  
 
Software & Services 1.7%
Automatic Data Processing, Inc.
    100,392       5,698,250  
CA, Inc.
    70,513       1,562,568  
Paychex, Inc.
    67,252       2,188,380  
                 
              9,449,198  
 
Technology Hardware & Equipment 0.3%
Harris Corp.
    23,284       1,097,375  
Molex, Inc.
    28,320       747,081  
                 
              1,844,456  
 
Telecommunication Services 0.9%
CenturyLink, Inc.
    128,957       5,008,690  
 
Transportation 1.5%
CSX Corp.
    214,338       4,235,319  
Norfolk Southern Corp.
    66,115       3,992,024  
                 
              8,227,343  
 
Utilities 2.9%
CenterPoint Energy, Inc.
    88,135       1,738,903  
Entergy Corp.
    36,418       2,314,000  
Exelon Corp.
    176,099       5,321,712  
New Jersey Resources Corp.
    8,931       362,420  
PPL Corp.
    120,819       3,546,038  
Questar Corp.
    36,549       717,091  
WGL Holdings, Inc.
    10,948       427,629  
Wisconsin Energy Corp.
    47,423       1,779,785  
                 
              16,207,578  
                 
Total Common Stock
(Cost $537,165,273)     555,948,123  
         
                 
                 
 
 Other Investment Company 0.0% of net assets
 
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund
    138,321       138,321  
                 
Total Other Investment Company
(Cost $138,321)     138,321  
         
 
End of Investments
 
At 11/30/12, the tax basis cost of the fund’s investments was $537,393,209 and the unrealized appreciation and depreciation were $32,150,075 and ($13,456,840), respectively, with a net unrealized appreciation of $18,693,235.
 
* Non-income producing security.
 
 
 
 
2 

 

 
 Schwab U.S. Dividend Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value
 
 
 
 3

 

 
 Schwab U.S. Dividend Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
  of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total2
 
Common Stock1
    $555,948,123       $—       $—       $555,948,123  
Other Investment Company1
    138,321       —       —       138,321  
                                 
Total
    $556,086,444       $—       $—       $556,086,444  
                                 
 
     
1
  As categorized in Portfolio Holdings.
2
  The fund had no Other Financial Instruments.
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG65852NOV12
 
 
 
4 

 

Schwab Strategic Trust
Schwab International Equity ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  98 .5%   Common Stock     906,505,430       923,951,455  
  0 .4%   Other Investment Companies     3,823,415       3,824,963  
  0 .5%   Preferred Stock     3,339,971       4,568,980  
  0 .0%   Rights     218,124       68,667  
 
 
  99 .4%   Total Investments     913,886,940       932,414,065  
  0 .2%   Collateral Invested for Securities on Loan     2,029,898       2,029,898  
  0 .4%   Other Assets and
Liabilities, Net 		            3,467,089  
 
 
  100 .0%   Net Assets             937,911,052  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 98.5% of net assets
 
Australia 7.6%
                 
 
Banks 2.4%
Australia & New Zealand Banking Group Ltd.
    195,054       4,957,019  
Bank of Queensland Ltd.
    19,470       142,591  
Bendigo & Adelaide Bank Ltd.
    33,276       280,499  
Commonwealth Bank of Australia
    111,864       6,965,949  
National Australia Bank Ltd.
    161,424       4,092,256  
Westpac Banking Corp.
    210,276       5,593,946  
                 
              22,032,260  
                 
 
Capital Goods 0.0%
CSR Ltd.
    83,544       168,213  
GWA Group Ltd.
    61,950       109,870  
Leighton Holdings Ltd.
    3,186       57,269  
                 
              335,352  
                 
 
Commercial & Professional Services 0.1%
ALS Ltd.
    8,850       87,711  
Brambles Ltd.
    129,700       979,641  
Downer EDI Ltd. *
    49,206       181,210  
                 
              1,248,562  
                 
 
Consumer Services 0.1%
Crown Ltd.
    48,144       514,819  
Echo Entertainment Group Ltd.
    114,696       423,584  
Flight Centre Ltd.
    1,416       39,885  
Tatts Group Ltd.
    95,934       293,244  
                 
              1,271,532  
                 
 
Diversified Financials 0.2%
ASX Ltd.
    15,930       489,262  
IOOF Holdings Ltd.
    30,090       204,672  
Macquarie Group Ltd.
    24,780       846,903  
                 
              1,540,837  
                 
 
Energy 0.5%
Aquila Resources Ltd. *
    17,700       42,840  
Caltex Australia Ltd.
    1,770       33,755  
Energy Resources of Australia Ltd. *
    69,030       88,579  
New Hope Corp., Ltd.
    28,320       120,543  
Oil Search Ltd.
    110,094       815,475  
Origin Energy Ltd.
    81,920       938,384  
Paladin Energy Ltd. *
    59,118       53,657  
Santos Ltd.
    63,720       740,542  
Whitehaven Coal Ltd.
    10,974       34,002  
Woodside Petroleum Ltd.
    43,188       1,522,889  
WorleyParsons Ltd.
    18,762       480,724  
                 
              4,871,390  
                 
 
Food & Staples Retailing 0.6%
Metcash Ltd.
    73,986       264,748  
Wesfarmers Ltd.
    66,198       2,455,121  
Wesfarmers Ltd., Price Protected Shares
    15,222       586,303  
Woolworths Ltd.
    80,358       2,454,644  
                 
              5,760,816  
                 
 
Food, Beverage & Tobacco 0.1%
Coca-Cola Amatil Ltd.
    42,480       608,919  
Goodman Fielder Ltd. *
    65,136       45,529  
Treasury Wine Estates Ltd.
    60,687       318,458  
                 
              972,906  
                 
 
Health Care Equipment & Services 0.1%
Ansell Ltd.
    7,080       114,486  
Cochlear Ltd.
    3,540       278,460  
Ramsay Health Care Ltd.
    10,620       294,488  
Sonic Healthcare Ltd.
    33,630       471,536  
                 
              1,158,970  
                 
 
Insurance 0.4%
AMP Ltd.
    201,825       968,548  
Challenger Ltd.
    33,276       115,602  
Insurance Australia Group Ltd.
    181,956       878,892  
QBE Insurance Group Ltd.
    68,322       779,770  
Suncorp Group Ltd.
    90,057       910,394  
                 
              3,653,206  
                 
 
Materials 1.7%
Adelaide Brighton Ltd.
    40,002       132,708  
Alumina Ltd.
    82,836       82,098  
Amcor Ltd.
    132,042       1,088,247  
Atlas Iron Ltd.
    43,542       62,914  
BHP Billiton Ltd.
    214,878       7,709,257  
Boral Ltd.
    42,126       176,671  
DuluxGroup Ltd.
    24,426       89,189  
Fortescue Metals Group Ltd.
    161,778       659,910  
Gunns Ltd. *(a)(b)
    346,320       —  
Iluka Resources Ltd.
    42,834       367,771  
Incitec Pivot Ltd.
    137,352       451,371  
 
 
 
 1

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
James Hardie Industries plc CDI
    12,390       117,496  
Lynas Corp., Ltd. *
    115,758       77,289  
Newcrest Mining Ltd.
    48,852       1,307,248  
Nufarm Ltd.
    18,054       109,995  
Orica Ltd.
    24,426       613,617  
OZ Minerals Ltd.
    19,324       148,174  
Rio Tinto Ltd.
    38,586       2,364,972  
Sims Metal Management Ltd.
    3,186       29,848  
                 
              15,588,775  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
CSL Ltd.
    39,294       2,119,362  
                 
 
Real Estate 0.7%
CFS Retail Property Trust Group
    298,776       604,694  
Commonwealth Property Office Fund
    387,300       412,132  
Dexus Property Group
    436,482       457,637  
Goodman Group
    33,984       163,797  
GPT Group
    150,522       548,042  
Lend Lease Group
    49,955       448,194  
Mirvac Group
    229,038       351,247  
Shopping Centres Australasia Property Group *
    16,068       24,306  
Stockland
    207,090       732,398  
Westfield Group
    157,176       1,708,608  
Westfield Retail Trust
    181,956       567,578  
                 
              6,018,633  
                 
 
Retailing 0.0%
Harvey Norman Holdings Ltd.
    47,790       89,992  
                 
 
Software & Services 0.1%
Computershare Ltd.
    45,312       411,264  
                 
 
Telecommunication Services 0.1%
Telstra Corp., Ltd.
    260,544       1,171,512  
                 
 
Transportation 0.2%
Asciano Ltd.
    71,508       324,513  
Aurizon Holdings Ltd. *
    79,296       298,639  
Macquarie Atlas Roads Group *
    65,844       109,907  
Qantas Airways Ltd. *
    52,392       72,422  
Sydney Airport
    23,650       87,589  
Toll Holdings Ltd.
    17,700       85,865  
Transurban Group
    157,884       1,022,864  
                 
              2,001,799  
                 
 
Utilities 0.1%
AGL Energy Ltd.
    52,038       780,128  
APA Group
    25,134       146,838  
Envestra Ltd.
    109,032       102,373  
SP Ausnet
    81,420       90,038  
                 
              1,119,377  
                 
              71,366,545  
 
Austria 0.3%
                 
 
Banks 0.1%
Erste Group Bank AG *
    19,116       562,260  
Raiffeisen Bank International AG
    3,894       160,369  
                 
              722,629  
                 
 
Capital Goods 0.0%
Andritz AG
    4,956       315,843  
Strabag SE
    3,894       102,683  
                 
              418,526  
                 
 
Energy 0.1%
OMV AG
    12,744       455,477  
                 
 
Insurance 0.0%
Vienna Insurance Group AG
    3,186       151,245  
                 
 
Materials 0.1%
Voestalpine AG
    13,098       422,900  
                 
 
Real Estate 0.0%
Immofinanz AG *
    65,192       263,269  
                 
 
Telecommunication Services 0.0%
Telekom Austria AG
    26,196       170,353  
                 
              2,604,399  
 
Belgium 0.9%
                 
 
Banks 0.0%
Dexia S.A. *
    290,988       34,061  
KBC GROEP N.V.
    9,912       298,633  
                 
              332,694  
                 
 
Diversified Financials 0.1%
Groupe Bruxelles Lambert S.A.
    6,372       495,837  
                 
 
Food & Staples Retailing 0.0%
Colruyt S.A.
    7,080       325,788  
Delhaize Group
    1,770       65,448  
                 
              391,236  
                 
 
Food, Beverage & Tobacco 0.4%
Anheuser-Busch InBev N.V.
    55,224       4,840,241  
                 
 
Insurance 0.1%
Ageas
    20,008       534,760  
                 
 
Materials 0.1%
NV Bekaert S.A.
    7,080       168,879  
Solvay S.A.
    2,478       335,825  
Umicore S.A.
    7,788       404,606  
                 
              909,310  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
UCB S.A.
    10,266       582,746  
                 
 
Telecommunication Services 0.1%
Belgacom S.A.
    13,806       405,628  
Telenet Group Holding N.V.
    5,310       242,545  
                 
              648,173  
                 
              8,734,997  
 
Canada 8.7%
                 
 
Automobiles & Components 0.1%
Magna International, Inc.
    14,000       653,244  
                 
 
Banks 2.4%
Bank of Montreal
    40,400       2,426,806  
Bank of Nova Scotia
    74,800       4,216,842  
Canadian Imperial Bank of Commerce
    35,400       2,858,086  
National Bank of Canada
    5,300       413,927  
Royal Bank of Canada
    106,200       6,297,056  
The Toronto-Dominion Bank
    70,800       5,914,314  
                 
              22,127,031  
                 
 
Capital Goods 0.1%
Bombardier, Inc., B Shares
    141,600       500,343  
 
 
 
2 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Finning International, Inc.
    19,600       449,083  
                 
              949,426  
                 
 
Consumer Services 0.0%
Tim Hortons, Inc.
    5,000       232,546  
                 
 
Diversified Financials 0.1%
CI Financial Corp.
    17,600       425,228  
IGM Financial, Inc.
    10,900       445,502  
                 
              870,730  
                 
 
Energy 2.2%
Cameco Corp.
    5,700       103,975  
Canadian Natural Resources Ltd.
    77,100       2,219,046  
Canadian Oil Sands Ltd.
    35,400       718,442  
Cenovus Energy, Inc.
    50,040       1,680,510  
Crescent Point Energy Corp.
    13,300       522,306  
Enbridge, Inc.
    70,800       2,866,639  
EnCana Corp.
    56,300       1,229,889  
Husky Energy, Inc.
    35,400       993,559  
Imperial Oil Ltd.
    35,400       1,509,226  
MEG Energy Corp. *
    5,100       183,802  
Nexen, Inc.
    35,400       869,186  
Pacific Rubiales Energy Corp.
    15,000       327,226  
Penn West Petroleum Ltd.
    35,400       395,571  
Suncor Energy, Inc.
    109,100       3,565,094  
Talisman Energy, Inc.
    70,800       796,843  
TransCanada Corp.
    51,900       2,402,338  
                 
              20,383,652  
                 
 
Food & Staples Retailing 0.1%
Alimentation Couche-Tard, Inc., B Shares
    6,000       296,391  
George Weston Ltd.
    3,200       202,628  
Loblaw Cos. Ltd.
    2,000       67,388  
Shoppers Drug Mart Corp.
    19,400       816,544  
                 
              1,382,951  
                 
 
Food, Beverage & Tobacco 0.1%
Saputo, Inc.
    12,200       565,448  
                 
 
Insurance 0.6%
Great-West Lifeco, Inc.
    35,400       838,182  
Intact Financial Corp.
    2,500       161,323  
Manulife Financial Corp.
    141,600       1,821,763  
Power Corp. of Canada
    35,400       890,925  
Power Financial Corp.
    35,400       944,736  
Sun Life Financial, Inc.
    35,400       968,969  
                 
              5,625,898  
                 
 
Materials 1.6%
Agnico-Eagle Mines Ltd.
    5,200       289,956  
Agrium, Inc.
    10,400       1,062,038  
Barrick Gold Corp.
    70,800       2,458,239  
Eldorado Gold Corp.
    35,400       511,391  
First Quantum Minerals Ltd.
    36,700       753,692  
Goldcorp, Inc.
    60,900       2,373,221  
IAMGOLD Corp.
    12,100       143,005  
Kinross Gold Corp.
    70,800       717,016  
Osisko Mining Corp. *
    35,400       288,660  
Potash Corp. of Saskatchewan, Inc.
    62,900       2,433,429  
Silver Wheaton Corp.
    26,900       990,319  
Teck Resources Ltd., Class B
    46,300       1,567,493  
Turquoise Hill Resources Ltd. *
    37,900       285,390  
Yamana Gold, Inc.
    56,800       1,070,414  
                 
              14,944,263  
                 
 
Media 0.2%
Shaw Communications, Inc., B Shares
    35,400       780,450  
Thomson Reuters Corp.
    35,400       974,672  
                 
              1,755,122  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Valeant Pharmaceuticals International, Inc. *
    20,800       1,158,778  
                 
 
Real Estate 0.3%
Brookfield Asset Management, Inc., Class A
    35,400       1,232,327  
Brookfield Office Properties, Inc.
    70,800       1,168,893  
                 
              2,401,220  
                 
 
Retailing 0.0%
Canadian Tire Corp. Ltd., Class A
    4,600       305,169  
                 
 
Software & Services 0.1%
CGI Group, Inc., A Shares *
    25,400       582,997  
                 
 
Technology Hardware & Equipment 0.0%
Research In Motion Ltd. *
    36,800       429,367  
                 
 
Telecommunication Services 0.2%
BCE, Inc.
    35,400       1,498,892  
Rogers Communications, Inc., B Shares
    10,900       481,384  
                 
              1,980,276  
                 
 
Transportation 0.4%
Canadian National Railway Co.
    35,400       3,183,808  
Canadian Pacific Railway Ltd.
    7,110       663,510  
                 
              3,847,318  
                 
 
Utilities 0.1%
Canadian Utilities Ltd., Class A
    7,100       480,600  
Fortis, Inc.
    11,300       379,719  
TransAlta Corp.
    11,000       165,551  
                 
              1,025,870  
                 
              81,221,306  
 
China 0.0%
                 
 
Food & Staples Retailing 0.0%
Sun Art Retail Group Ltd. (c)
    177,000       273,149  
                 
 
Real Estate 0.0%
SOHO China Ltd.
    177,000       133,606  
                 
              406,755  
 
Denmark 1.1%
                 
 
Banks 0.1%
Danske Bank A/S *
    77,308       1,325,577  
                 
 
Capital Goods 0.0%
FLSmidth & Co. A/S
    4,956       283,753  
Rockwool International A/S, B Shares
    1,062       111,740  
                 
              395,493  
                 
 
Food, Beverage & Tobacco 0.1%
Carlsberg A/S, B Shares
    9,558       930,671  
                 
 
Health Care Equipment & Services 0.1%
Coloplast A/S, B Shares
    2,124       495,839  
 
 
 
 3

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
William Demant Holding A/S *
    2,124       172,563  
                 
              668,402  
                 
 
Materials 0.1%
Novozymes A/S, B Shares
    20,532       565,580  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.6%
Novo Nordisk A/S, B Shares
    32,568       5,172,678  
                 
 
Transportation 0.1%
AP Moller - Maersk A/S, B Shares
    70       499,878  
DSV A/S
    17,346       409,472  
                 
              909,350  
                 
              9,967,751  
 
Finland 0.6%
                 
 
Automobiles & Components 0.0%
Nokian Renkaat Oyj
    9,912       413,819  
                 
 
Capital Goods 0.2%
Kone Oyj, B Shares
    16,992       1,272,948  
Wartsila Oyj Abp
    16,992       716,696  
                 
              1,989,644  
                 
 
Food & Staples Retailing 0.0%
Kesko Oyj, B Shares
    4,248       134,090  
                 
 
Insurance 0.1%
Sampo Oyj, A Shares
    38,940       1,243,344  
                 
 
Materials 0.1%
Stora Enso Oyj, R Shares
    54,516       356,999  
UPM-Kymmene Oyj
    42,126       473,926  
                 
              830,925  
                 
 
Technology Hardware & Equipment 0.1%
Nokia Oyj
    295,590       980,333  
                 
 
Utilities 0.1%
Fortum Oyj
    32,568       586,657  
                 
              6,178,812  
 
France 8.5%
                 
 
Automobiles & Components 0.2%
Compagnie Generale des Etablissements Michelin, B Shares
    11,086       1,031,063  
Peugeot S.A. *
    10,974       67,325  
Renault S.A.
    18,054       902,963  
Valeo S.A.
    5,664       268,513  
                 
              2,269,864  
                 
 
Banks 0.8%
BNP Paribas S.A.
    78,942       4,409,247  
Credit Agricole S.A. *
    46,374       351,570  
Natixis
    24,072       77,112  
Societe Generale *
    60,180       2,176,300  
                 
              7,014,229  
                 
 
Capital Goods 1.1%
Alstom S.A.
    20,532       747,309  
Bouygues S.A.
    19,470       480,751  
Compagnie de Saint-Gobain
    38,232       1,525,549  
Eiffage S.A.
    1,416       56,631  
European Aeronautic Defence & Space Co., N.V.
    25,134       846,325  
Legrand S.A.
    13,494       546,516  
Rexel S.A.
    7,434       144,643  
Safran S.A.
    14,514       594,434  
Schneider Electric S.A.
    38,232       2,687,114  
Thales S.A.
    5,310       190,991  
Vallourec S.A.
    8,496       441,222  
Vinci S.A.
    41,772       1,843,100  
Zodiac Aerospace
    2,832       316,395  
                 
              10,420,980  
                 
 
Commercial & Professional Services 0.2%
Bureau Veritas S.A.
    5,310       589,167  
Edenred
    21,240       647,109  
Societe BIC S.A.
    3,186       398,211  
                 
              1,634,487  
                 
 
Consumer Durables & Apparel 0.6%
Christian Dior S.A.
    4,956       800,887  
Hermes International
    2,832       875,152  
LVMH Moet Hennessy Louis Vuitton S.A.
    24,780       4,347,674  
                 
              6,023,713  
                 
 
Consumer Services 0.2%
Accor S.A.
    21,240       705,536  
Sodexo
    13,452       1,086,306  
                 
              1,791,842  
                 
 
Diversified Financials 0.0%
Eurazeo
    3,095       148,173  
Wendel
    2,478       232,467  
                 
              380,640  
                 
 
Energy 1.0%
Compagnie Generale De Geophysique-Veritas *
    14,353       437,753  
Technip S.A.
    7,788       904,729  
Total S.A.
    156,468       7,829,749  
                 
              9,172,231  
                 
 
Food & Staples Retailing 0.2%
Carrefour S.A.
    43,896       1,083,875  
Casino Guichard Perrachon S.A.
    4,602       417,838  
                 
              1,501,713  
                 
 
Food, Beverage & Tobacco 0.5%
Danone S.A.
    42,834       2,717,250  
Pernod-Ricard S.A.
    17,346       1,964,091  
                 
              4,681,341  
                 
 
Health Care Equipment & Services 0.2%
bioMerieux
    1,416       132,673  
Essilor International S.A.
    16,284       1,572,538  
                 
              1,705,211  
                 
 
Household & Personal Products 0.3%
L’Oreal S.A.
    19,824       2,690,466  
                 
 
Insurance 0.3%
AXA S.A.
    160,733       2,641,338  
CNP Assurances
    12,744       185,638  
SCOR SE
    12,390       327,204  
                 
              3,154,180  
                 
 
Materials 0.5%
Air Liquide S.A.
    21,811       2,663,981  
Arkema S.A.
    3,540       362,114  
 
 
 
4 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Eramet
    1,062       140,196  
Imerys S.A.
    2,832       168,216  
Lafarge S.A.
    15,930       925,498  
                 
              4,260,005  
                 
 
Media 0.2%
Eutelsat Communications
    8,850       273,773  
JC Decaux S.A.
    3,894       88,097  
Lagardere S.C.A.
    9,204       277,062  
Publicis Groupe
    9,558       540,692  
SES
    23,718       670,936  
Societe Television Francaise 1
    11,328       110,838  
                 
              1,961,398  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.8%
Sanofi
    84,606       7,555,247  
                 
 
Real Estate 0.2%
Fonciere Des Regions
    2,832       237,720  
Gecina S.A.
    1,770       195,652  
Klepierre
    6,372       244,313  
Unibail-Rodamco SE
    6,726       1,578,547  
                 
              2,256,232  
                 
 
Retailing 0.1%
PPR
    7,080       1,320,463  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
STMicroelectronics N.V.
    23,364       148,897  
                 
 
Software & Services 0.1%
AtoS
    4,602       326,741  
Cap Gemini S.A.
    10,266       434,606  
Dassault Systemes S.A.
    3,540       400,559  
                 
              1,161,906  
                 
 
Technology Hardware & Equipment 0.1%
Alcatel-Lucent *
    267,624       293,076  
Gemalto N.V.
    5,664       520,819  
                 
              813,895  
                 
 
Telecommunication Services 0.4%
France Telecom S.A.
    133,458       1,412,730  
Vivendi
    93,616       2,011,425  
                 
              3,424,155  
                 
 
Transportation 0.1%
Aeroports de Paris
    2,832       218,530  
Bollore
    708       243,420  
Groupe Eurotunnel S.A. - Reg’d
    30,090       226,944  
                 
              688,894  
                 
 
Utilities 0.4%
Electricite de France S.A.
    24,072       441,913  
GDF Suez
    121,068       2,723,288  
Suez Environnement Co.
    29,028       316,377  
Veolia Environnement
    37,170       404,150  
                 
              3,885,728  
                 
              79,917,717  
 
Germany 6.7%
                 
 
Automobiles & Components 0.7%
Bayerische Motoren Werke AG
    20,886       1,852,336  
Continental AG
    6,018       666,079  
Daimler AG - Reg’d
    75,402       3,724,616  
Volkswagen AG
    1,770       360,042  
                 
              6,603,073  
                 
 
Banks 0.1%
Commerzbank AG *
    329,928       592,593  
                 
 
Capital Goods 0.8%
Brenntag AG
    708       91,530  
GEA Group AG
    15,222       497,418  
Hochtief AG *
    4,602       245,639  
MAN SE
    10,266       1,078,838  
Siemens AG - Reg’d
    58,764       6,060,776  
                 
              7,974,201  
                 
 
Commercial & Professional Services 0.0%
Bilfinger Berger SE
    2,478       242,200  
                 
 
Consumer Durables & Apparel 0.2%
Adidas AG
    16,992       1,494,388  
Puma SE
    708       205,942  
                 
              1,700,330  
                 
 
Diversified Financials 0.4%
Deutsche Bank AG - Reg’d
    62,304       2,750,245  
Deutsche Boerse AG
    15,930       897,321  
                 
              3,647,566  
                 
 
Food & Staples Retailing 0.0%
Metro AG
    14,160       396,507  
                 
 
Food, Beverage & Tobacco 0.0%
Suedzucker AG
    4,248       167,351  
                 
 
Health Care Equipment & Services 0.2%
Celesio AG
    6,018       102,221  
Fresenius Medical Care AG & Co. KGaA
    16,638       1,142,559  
Fresenius SE & Co. KGaA
    9,912       1,145,801  
                 
              2,390,581  
                 
 
Household & Personal Products 0.1%
Beiersdorf AG
    5,664       444,206  
Henkel AG & Co. KGaA
    10,266       695,637  
                 
              1,139,843  
                 
 
Insurance 0.7%
Allianz SE - Reg’d
    28,674       3,727,475  
Hannover Rueckversicherung AG - Reg’d
    4,602       339,071  
Muenchener Rueckversicherungs-Gesellschaft AG - Reg’d
    14,514       2,477,594  
                 
              6,544,140  
                 
 
Materials 1.1%
BASF SE
    66,198       5,932,091  
HeidelbergCement AG
    14,868       808,010  
K+S AG
    14,168       640,150  
Lanxess AG
    5,664       493,046  
Linde AG
    8,850       1,530,296  
Salzgitter AG
    3,540       163,216  
ThyssenKrupp AG
    28,320       573,490  
Wacker Chemie AG
    1,416       77,091  
                 
              10,217,390  
                 
 
Media 0.1%
Axel Springer AG
    4,248       185,058  
Kabel Deutschland Holding AG
    5,310       383,984  
                 
              569,042  
 
 
 
 5

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.7%
Bayer AG - Reg’d
    61,242       5,539,750  
Merck KGaA
    4,602       615,594  
QIAGEN N.V. *
    16,638       307,604  
                 
              6,462,948  
                 
 
Retailing 0.0%
Fielmann AG
    1,062       103,386  
                 
 
Semiconductors & Semiconductor Equipment 0.1%
Infineon Technologies AG
    82,482       632,500  
                 
 
Software & Services 0.6%
SAP AG
    67,260       5,252,200  
Software AG
    2,478       104,051  
                 
              5,356,251  
                 
 
Telecommunication Services 0.3%
Deutsche Telekom AG - Reg’d
    223,960       2,467,161  
                 
 
Transportation 0.2%
Deutsche Lufthansa AG - Reg’d
    15,930       264,369  
Deutsche Post AG - Reg’d
    62,304       1,293,280  
Fraport AG
    3,186       176,709  
Hamburger Hafen und Logistik AG
    3,186       71,893  
                 
              1,806,251  
                 
 
Utilities 0.4%
E.ON SE
    142,662       2,569,814  
RWE AG
    35,046       1,461,549  
                 
              4,031,363  
                 
              63,044,677  
 
Greece 0.1%
                 
 
Banks 0.0%
Alpha Bank AE *
    38,141       76,394  
Eurobank Ergasias S.A. *
    37,009       33,212  
National Bank of Greece S.A. ADR *
    75,454       133,554  
                 
              243,160  
                 
 
Food, Beverage & Tobacco 0.1%
Coca Cola Hellenic Bottling Co. S.A. ADR *
    11,328       260,884  
                 
 
Telecommunication Services 0.0%
Hellenic Telecommunications Organization S.A. *
    38,631       188,413  
                 
 
Utilities 0.0%
Public Power Corp. S.A. *
    14,592       84,643  
                 
              777,100  
 
Hong Kong 4.2%
                 
 
Automobiles & Components 0.0%
Geely Automobile Holdings Ltd. (c)
    210,000       99,174  
Xinyi Glass Holdings Ltd.
    156,000       87,762  
                 
              186,936  
                 
 
Banks 0.3%
BOC Hong Kong Holdings Ltd.
    354,000       1,087,116  
Dah Sing Banking Group Ltd.
    296,960       321,864  
Hang Seng Bank Ltd.
    70,800       1,081,634  
The Bank of East Asia Ltd.
    212,400       819,448  
                 
              3,310,062  
                 
 
Capital Goods 0.5%
Hopewell Holdings Ltd.
    177,000       697,718  
Hutchison Whampoa Ltd.
    218,000       2,241,870  
Jardine Matheson Holdings Ltd.
    15,800       932,516  
Jardine Strategic Holdings Ltd.
    5,000       170,100  
Johnson Electric Holdings Ltd.
    368,000       247,864  
Shun Tak Holdings Ltd.
    178,000       83,602  
                 
              4,373,670  
                 
 
Consumer Durables & Apparel 0.1%
Techtronic Industries Co., Ltd.
    177,000       348,516  
Texwinca Holdings Ltd.
    12,000       10,204  
Yue Yuen Industrial Holdings Ltd.
    40,000       140,128  
                 
              498,848  
                 
 
Consumer Services 0.2%
Cafe de Coral Holdings Ltd.
    10,000       29,548  
China Travel International Investment Hong Kong Ltd.
    708,000       137,945  
Galaxy Entertainment Group Ltd. *
    140,000       533,803  
Melco International Development Ltd.
    81,000       86,852  
Sands China Ltd.
    141,600       603,852  
SJM Holdings Ltd.
    49,000       115,576  
Wynn Macau Ltd.
    80,000       228,644  
                 
              1,736,220  
                 
 
Diversified Financials 0.2%
First Pacific Co., Ltd.
    12,000       12,604  
Hong Kong Exchanges & Clearing Ltd.
    92,400       1,476,006  
                 
              1,488,610  
                 
 
Energy 0.0%
Brightoil Petroleum Holdings Ltd. *
    354,000       67,602  
Hidili Industry International Development Ltd. (c)
    125,000       31,935  
                 
              99,537  
                 
 
Food, Beverage & Tobacco 0.1%
China Huiyuan Juice Group Ltd. *(c)
    177,000       62,806  
China Mengniu Dairy Co., Ltd.
    74,000       207,199  
China Yurun Food Group Ltd. *(c)
    15,000       9,232  
Tingyi Cayman Islands Holding Corp.
    28,000       81,832  
Want Want China Holdings Ltd.
    708,000       1,034,130  
                 
              1,395,199  
                 
 
Household & Personal Products 0.1%
Hengan International Group Co., Ltd.
    99,500       898,704  
                 
 
Insurance 0.4%
AIA Group Ltd.
    863,800       3,360,439  
                 
 
Materials 0.0%
China Zhongwang Holdings Ltd. *(c)
    141,600       50,428  
Fosun International
    177,000       104,829  
Huabao International Holdings Ltd. (c)
    175,000       79,032  
Lee & Man Paper Manufacturing Ltd.
    165,000       99,212  
Mongolian Mining Corp. *
    100,000       49,935  
Shougang Fushan Resources Group Ltd. (c)
    140,000       52,206  
United Co. RUSAL plc *
    20,000       11,922  
                 
              447,564  
                 
 
Media 0.0%
Television Broadcasts Ltd.
    24,000       176,050  
 
 
 
6 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Real Estate 1.2%
Agile Property Holdings Ltd. (c)
    30,000       40,413  
Cheung Kong (Holdings) Ltd.
    102,000       1,556,971  
Evergrande Real Estate Group Ltd. (c)
    708,000       353,541  
Hang Lung Group Ltd. (c)
    50,000       278,708  
Hang Lung Properties Ltd.
    175,000       641,286  
Henderson Land Development Co., Ltd.
    70,000       498,577  
Hongkong Land Holdings Ltd.
    219,000       1,432,260  
Hutchison Harbour Ring Ltd.
    906,000       78,325  
Hysan Development Co., Ltd.
    31,000       149,399  
Kerry Properties Ltd.
    65,500       334,259  
Kowloon Development Co., Ltd.
    25,000       29,548  
New World Development Co., Ltd.
    479,000       758,978  
Sino Land Co., Ltd.
    225,000       406,449  
Sun Hung Kai Properties Ltd.
    120,000       1,755,860  
Swire Pacific Ltd., Class A
    52,000       637,415  
Swire Properties Ltd.
    141,600       466,820  
The Link REIT
    177,000       960,362  
Wharf Holdings Ltd.
    114,000       877,427  
Wheelock & Co., Ltd.
    30,000       145,547  
                 
              11,402,145  
                 
 
Retailing 0.3%
Belle International Holdings Ltd.
    354,000       743,623  
Chow Tai Fook Jewellery Group Ltd. (c)
    30,000       43,819  
Esprit Holdings Ltd. (c)
    106,200       164,986  
Golden Eagle Retail Group Ltd. (c)
    20,000       47,277  
L’Occitane International S.A.
    15,500       47,500  
Li & Fung Ltd.
    444,000       731,020  
Lifestyle International Holdings Ltd.
    177,000       375,923  
Parkson Retail Group Ltd.
    354,000       255,335  
                 
              2,409,483  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
ASM Pacific Technology Ltd. (c)
    24,400       285,872  
GCL- Poly Energy Holdings Ltd. (c)
    708,000       117,847  
                 
              403,719  
                 
 
Software & Services 0.2%
Tencent Holdings Ltd.
    59,900       1,956,978  
                 
 
Technology Hardware & Equipment 0.1%
AAC Technologies Holdings, Inc.
    68,000       255,327  
Foxconn International Holdings Ltd. *(c)
    97,000       49,063  
Kingboard Chemical Holdings Ltd.
    47,000       139,483  
VTech Holdings Ltd. (c)
    10,900       126,650  
                 
              570,523  
                 
 
Telecommunication Services 0.0%
PCCW Ltd.
    354,000       148,907  
                 
 
Transportation 0.1%
Cathay Pacific Airways Ltd.
    62,000       108,959  
Hopewell Highway Infrastructure Ltd. (c)
    2,034,000       1,110,163  
                 
              1,219,122  
                 
 
Utilities 0.4%
Cheung Kong Infrastructure Holdings Ltd.
    22,000       134,412  
CLP Holdings Ltd.
    124,500       1,091,577  
ENN Energy Holdings Ltd.
    40,000       180,128  
Hong Kong & China Gas Co., Ltd.
    523,000       1,417,152  
Power Assets Holdings Ltd.
    92,500       813,995  
                 
              3,637,264  
                 
              39,719,980  
 
Ireland 0.1%
                 
 
Food, Beverage & Tobacco 0.1%
Kerry Group plc, A Shares
    10,974       574,979  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Elan Corp. plc *
    49,914       501,168  
                 
 
Transportation 0.0%
Ryanair Holdings plc
    11,021       67,957  
                 
              1,144,104  
 
Israel 0.6%
                 
 
Banks 0.1%
Bank Hapoalim B.M. *
    80,712       332,920  
Bank Leumi Le-Israel *
    69,030       233,294  
First International Bank of Israel Ltd. *
    9,558       124,218  
Israel Discount Bank Ltd., A Shares *
    64,788       96,898  
Mizrahi Tefahot Bank Ltd. *
    7,788       75,937  
                 
              863,267  
                 
 
Capital Goods 0.0%
Elbit Systems Ltd.
    1,062       39,765  
Ormat Industries Ltd.
    2,478       13,784  
                 
              53,549  
                 
 
Energy 0.1%
Avner Oil Exploration LP *
    92,040       58,686  
Delek Drilling LP *
    16,992       62,286  
Delek Group Ltd.
    354       79,557  
Isramco Negev 2 LP *
    687,535       102,469  
Oil Refineries Ltd. *
    56,640       28,981  
Ratio Oil Exploration 1992 LP *
    552,240       54,628  
                 
              386,607  
                 
 
Food, Beverage & Tobacco 0.0%
Osem Investments Ltd.
    4,602       72,270  
Strauss Group Ltd.
    1,416       16,913  
                 
              89,183  
                 
 
Insurance 0.0%
Migdal Insurance & Financial Holding Ltd.
    29,028       43,537  
                 
 
Materials 0.1%
Israel Chemicals Ltd.
    36,108       445,298  
The Israel Corp., Ltd.
    196       135,258  
                 
              580,556  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Teva Pharmaceutical Industries Ltd.
    67,056       2,727,213  
                 
 
Real Estate 0.0%
Azrieli Group
    2,832       68,959  
Gazit-Globe Ltd.
    5,310       63,033  
Jerusalem Economy Ltd. *
    9,204       51,320  
                 
              183,312  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
Mellanox Technologies Ltd. *
    1,770       134,639  
 
 
 
 7

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Software & Services 0.0%
NICE Systems Ltd. *
    3,540       120,752  
                 
 
Telecommunication Services 0.0%
Bezeq Israeli Telecommunication Corp., Ltd.
    130,980       161,255  
                 
              5,343,870  
 
Italy 2.1%
                 
 
Automobiles & Components 0.1%
Fiat S.p.A. *
    46,020       213,079  
Pirelli & C. S.p.A.
    34,035       394,852  
                 
              607,931  
                 
 
Banks 0.4%
Banca Carige S.p.A.
    75,756       67,147  
Banca Monte dei Paschi di Siena S.p.A. *
    354,000       93,418  
Banco Popolare Societa Cooperativa *
    106,200       156,494  
Intesa Sanpaolo S.p.A.
    861,282       1,449,517  
UniCredit S.p.A. *
    330,636       1,539,490  
Unione di Banche Italiane S.c.p.A.
    49,914       195,014  
                 
              3,501,080  
                 
 
Capital Goods 0.1%
Fiat Industrial S.p.A.
    62,658       669,872  
Finmeccanica S.p.A. *
    8,142       42,803  
Prysmian S.p.A.
    9,730       184,001  
                 
              896,676  
                 
 
Consumer Durables & Apparel 0.1%
Luxottica Group S.p.A.
    9,558       392,202  
Prada S.p.A.
    31,200       257,650  
                 
              649,852  
                 
 
Consumer Services 0.0%
Autogrill S.p.A.
    16,284       161,066  
                 
 
Diversified Financials 0.0%
EXOR S.p.A.
    6,726       166,384  
Mediobanca S.p.A.
    41,418       229,048  
                 
              395,432  
                 
 
Energy 0.7%
Eni S.p.A.
    191,868       4,536,701  
Saipem S.p.A.
    24,780       1,103,194  
Tenaris S.A.
    32,568       645,958  
                 
              6,285,853  
                 
 
Food, Beverage & Tobacco 0.0%
Parmalat S.p.A.
    83,190       190,968  
                 
 
Insurance 0.2%
Assicurazioni Generali S.p.A.
    117,174       1,965,915  
                 
 
Materials 0.0%
Buzzi Unicem S.p.A.
    5,664       68,951  
                 
 
Media 0.0%
Mediaset S.p.A.
    58,764       97,064  
                 
 
Telecommunication Services 0.1%
Telecom Italia S.p.A.
    888,540       809,522  
Telecom Italia S.p.A. - RSP
    458,784       366,072  
                 
              1,175,594  
                 
 
Transportation 0.1%
Atlantia S.p.A.
    35,908       613,197  
                 
 
Utilities 0.3%
Enel Green Power S.p.A.
    35,754       61,010  
Enel S.p.A.
    540,912       2,050,028  
Snam S.p.A.
    120,714       533,802  
Terna-Rete Elettrica Nazionale S.p.A.
    110,802       421,087  
                 
              3,065,927  
                 
              19,675,506  
 
Japan 15.6%
                 
 
Automobiles & Components 2.0%
Aisin Seiki Co., Ltd.
    8,200       242,212  
Bridgestone Corp.
    46,400       1,119,069  
Denso Corp.
    35,400       1,162,830  
Honda Motor Co., Ltd.
    106,200       3,518,108  
Isuzu Motors Ltd.
    96,000       562,241  
Mitsubishi Motors Corp. *
    708,000       661,040  
NHK Spring Co., Ltd.
    5,000       41,833  
Nissan Motor Co., Ltd.
    177,000       1,714,842  
Nok Corp.
    35,400       541,281  
Sumitomo Rubber Industries Ltd.
    35,400       417,228  
Suzuki Motor Corp.
    35,400       839,607  
Toyota Motor Corp.
    167,100       7,162,586  
Yamaha Motor Co., Ltd.
    35,400       371,299  
                 
              18,354,176  
                 
 
Banks 1.7%
Aozora Bank Ltd.
    354,000       1,090,287  
Fukuoka Financial Group, Inc.
    27,000       106,402  
Hokuhoku Financial Group, Inc.
    354,000       493,634  
Mitsubishi UFJ Financial Group, Inc.
    991,200       4,531,131  
Mizuho Financial Group, Inc.
    1,602,700       2,565,253  
North Pacific Bank Ltd. *
    70,800       184,576  
Resona Holdings, Inc.
    177,000       740,451  
Senshu Ikeda Holdings, Inc.
    53,880       345,611  
Shinsei Bank Ltd.
    364,000       617,922  
Sumitomo Mitsui Financial Group, Inc.
    106,200       3,417,665  
Sumitomo Mitsui Trust Holdings, Inc.
    241,000       730,569  
The 77 Bank Ltd.
    28,000       114,417  
The Awa Bank Ltd.
    5,000       30,011  
The Bank of Yokohama Ltd.
    62,000       293,949  
The Chiba Bank Ltd.
    45,000       268,461  
The Hokkoku Bank Ltd.
    2,000       7,324  
The Joyo Bank Ltd.
    37,000       180,357  
The Juroku Bank Ltd.
    20,000       69,601  
The Nanto Bank Ltd.
    4,000       19,935  
The San-In Godo Bank Ltd.
    2,000       14,478  
The Shiga Bank Ltd.
    8,000       52,092  
The Shizuoka Bank Ltd.
    35,000       345,883  
Yamaguchi Financial Group, Inc.
    9,000       81,957  
                 
              16,301,966  
                 
 
Capital Goods 2.1%
Chiyoda Corp.
    1,000       14,381  
COMSYS Holdings Corp.
    35,400       415,940  
Daikin Industries Ltd.
    35,400       1,112,608  
FANUC Corp.
    12,090       2,037,723  
Hitachi Cable Ltd. *
    7,000       9,676  
Hoshizaki Electric Co., Ltd.
    1,600       43,516  
IHI Corp.
    354,000       785,522  
 
 
 
8 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
ITOCHU Corp.
    70,800       707,399  
JTEKT Corp.
    35,400       285,879  
Kandenko Co., Ltd.
    2,000       8,706  
Kawasaki Heavy Industries Ltd.
    354,000       819,862  
Keihan Electric Railway Co., Ltd.
    8,000       37,444  
Komatsu Ltd.
    70,800       1,585,638  
LIXIL Group Corp.
    35,400       749,465  
Makita Corp.
    25,400       1,070,268  
Mitsubishi Corp.
    106,200       2,010,164  
Mitsubishi Electric Corp.
    69,000       537,141  
Mitsubishi Heavy Industries Ltd.
    354,000       1,644,016  
Mitsui & Co., Ltd.
    106,200       1,466,737  
SMC Corp.
    2,000       337,577  
Sojitz Corp.
    177,000       223,209  
Sumitomo Corp.
    106,200       1,317,359  
Sumitomo Electric Industries Ltd.
    70,800       763,201  
The Japan Steel Works Ltd.
    1,000       5,505  
THK Co., Ltd.
    35,400       608,243  
Toyota Tsusho Corp.
    35,400       814,711  
Ushio, Inc.
    35,400       403,922  
                 
              19,815,812  
                 
 
Commercial & Professional Services 0.2%
Kokuyo Co., Ltd.
    9,300       72,623  
Nissha Printing Co., Ltd. *
    3,200       35,038  
Secom Co., Ltd.
    35,400       1,811,422  
                 
              1,919,083  
                 
 
Consumer Durables & Apparel 0.5%
Haseko Corp. *
    187,000       122,444  
NAMCO BANDAI Holdings, Inc.
    35,400       496,639  
Nikon Corp.
    35,400       980,400  
Panasonic Corp.
    212,400       1,037,919  
Sega Sammy Holdings, Inc.
    35,400       588,927  
Sony Corp.
    81,800       794,493  
Sumitomo Forestry Co., Ltd.
    35,400       311,204  
TSI Holdings Co., Ltd.
    38,400       224,431  
                 
              4,556,457  
                 
 
Consumer Services 0.0%
Benesse Holdings, Inc.
    2,000       87,304  
Oriental Land Co., Ltd.
    2,000       257,306  
                 
              344,610  
                 
 
Diversified Financials 0.4%
Acom Co., Ltd. *
    400       10,913  
Credit Saison Co., Ltd.
    35,400       786,380  
Daiwa Securities Group, Inc.
    130,000       575,361  
Mitsubishi UFJ Lease & Finance Co., Ltd.
    7,080       308,199  
Nomura Holdings, Inc.
    294,100       1,216,056  
ORIX Corp.
    7,080       709,975  
                 
              3,606,884  
                 
 
Energy 0.2%
Cosmo Oil Co., Ltd.
    30,000       58,203  
Idemitsu Kosan Co., Ltd.
    1,000       81,969  
Inpex Corp.
    185       991,512  
JX Holdings, Inc.
    145,000       773,615  
Showa Shell Sekiyu K.K.
    35,400       206,039  
TonenGeneral Sekiyu K.K.
    15,000       139,141  
                 
              2,250,479  
                 
 
Food & Staples Retailing 0.3%
Aeon Co., Ltd.
    70,800       791,531  
Seven & i Holdings Co., Ltd.
    70,800       2,062,103  
                 
              2,853,634  
                 
 
Food, Beverage & Tobacco 0.7%
Ajinomoto Co., Inc.
    27,000       385,995  
Asahi Group Holdings Ltd.
    35,400       795,395  
Japan Tobacco, Inc.
    70,800       2,120,480  
Kagome Co., Ltd.
    35,400       705,682  
Kewpie Corp.
    35,400       515,096  
Kirin Holdings Co., Ltd.
    49,000       600,691  
Nissin Foods Holdings Co., Ltd.
    6,000       236,450  
Sapporo Holdings Ltd.
    52,000       157,002  
Yakult Honsha Co., Ltd.
    13,000       569,844  
                 
              6,086,635  
                 
 
Health Care Equipment & Services 0.2%
Alfresa Holdings Corp.
    1,900       79,714  
M3, Inc.
    96       176,821  
Medipal Holdings Corp.
    14,400       170,244  
Miraca Holdings, Inc.
    2,100       85,176  
Olympus Corp. *
    22,300       371,802  
Suzuken Co., Ltd.
    2,100       62,513  
Terumo Corp.
    9,600       406,257  
                 
              1,352,527  
                 
 
Household & Personal Products 0.2%
Kao Corp.
    35,400       971,386  
Kobayashi Pharmaceutical Co., Ltd.
    1,300       64,787  
Lion Corp.
    11,000       56,154  
Shiseido Co., Ltd.
    14,200       205,760  
Unicharm Corp.
    8,600       439,020  
                 
              1,737,107  
                 
 
Insurance 0.5%
Sony Financial Holdings, Inc.
    59,800       1,026,759  
T&D Holdings, Inc.
    70,800       760,626  
The Dai-ichi Life Insurance Co., Ltd.
    495       560,604  
Tokio Marine Holdings, Inc.
    70,800       1,814,856  
                 
              4,162,845  
                 
 
Materials 1.1%
Asahi Kasei Corp.
    60,000       341,942  
Hitachi Chemical Co., Ltd.
    35,400       505,653  
JFE Holdings, Inc.
    38,500       596,150  
JSR Corp.
    35,400       654,172  
Kobe Steel Ltd. *
    354,000       330,520  
Kuraray Co. Ltd.
    35,400       435,686  
Mitsubishi Chemical Holdings Corp.
    177,000       772,645  
Nippon Paper Group, Inc.
    5,200       63,684  
Nippon Steel & Sumitomo Metal Corp.
    591,000       1,354,420  
Nissan Chemical Industries Ltd.
    11,200       134,585  
Nitto Denko Corp.
    20,100       1,046,799  
Shin-Etsu Chemical Co., Ltd.
    35,400       2,081,848  
Showa Denko K.K.
    354,000       510,804  
Sumitomo Chemical Co., Ltd.
    79,000       225,112  
Sumitomo Metal Mining Co., Ltd.
    37,000       506,524  
Sumitomo Osaka Cement Co., Ltd.
    37,000       116,648  
Taiheiyo Cement Corp.
    32,000       71,396  
Tokyo Steel Manufacturing Co., Ltd.
    49,800       174,514  
Toray Industries, Inc.
    100,000       591,730  
                 
              10,514,832  
                 
 
Media 0.1%
Dentsu, Inc.
    28,400       694,245  
 
 
 
 9

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Hakuhodo DY Holdings, Inc.
    7,080       452,426  
SKY Perfect JSAT Holdings, Inc.
    131       55,676  
                 
              1,202,347  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.9%
Astellas Pharma, Inc.
    35,400       1,789,960  
Chugai Pharmaceutical Co., Ltd.
    35,400       701,390  
Daiichi Sankyo Co., Ltd.
    35,400       546,002  
Dainippon Sumitomo Pharma Co., Ltd.
    35,400       416,370  
Eisai Co., Ltd.
    35,400       1,485,195  
Kissei Pharmaceutical Co., Ltd.
    1,700       31,868  
Otsuka Holdings Co., Ltd.
    35,400       1,050,367  
Shionogi & Co., Ltd.
    35,400       599,229  
Takeda Pharmaceutical Co., Ltd.
    35,400       1,618,261  
                 
              8,238,642  
                 
 
Real Estate 0.5%
Aeon Mall Co., Ltd.
    7,500       193,707  
Daito Trust Construction Co., Ltd.
    3,800       368,158  
Daiwa House Industry Co., Ltd.
    22,000       336,122  
Mitsubishi Estate Co., Ltd.
    63,000       1,213,860  
Mitsui Fudosan Co., Ltd.
    45,000       937,977  
Nomura Real Estate Holdings, Inc.
    6,500       112,235  
NTT Urban Development Corp.
    354       299,614  
Sumitomo Real Estate Sales Co., Ltd.
    3,540       152,168  
Sumitomo Realty & Development Co., Ltd.
    30,000       815,933  
Tokyo Tatemono Co., Ltd. *
    1,000       3,989  
Tokyu Land Corp.
    32,000       187,414  
                 
              4,621,177  
                 
 
Retailing 0.3%
Aoyama Trading Co., Ltd.
    4,100       74,523  
Fast Retailing Co., Ltd.
    4,100       930,666  
Isetan Mitsukoshi Holdings Ltd.
    70,800       630,134  
J Front Retailing Co., Ltd.
    34,000       164,084  
Komeri Co., Ltd.
    4,500       108,749  
Marui Group Co., Ltd.
    35,400       239,090  
Point, Inc.
    3,540       127,744  
USS Co., Ltd.
    3,540       376,879  
Yamada Denki Co., Ltd.
    14,160       500,502  
                 
              3,152,371  
                 
 
Semiconductors & Semiconductor Equipment 0.1%
Tokyo Electron Ltd.
    19,400       864,496  
Ulvac, Inc. *
    19,600       142,360  
                 
              1,006,856  
                 
 
Software & Services 0.3%
DeNA Co., Ltd.
    1,900       69,692  
Gree, Inc. (c)
    1,700       29,539  
KONAMI Corp.
    24,500       590,887  
Nintendo Co., Ltd.
    6,800       814,648  
Nomura Research Institute Ltd.
    35,400       682,932  
NTT Data Corp.
    100       289,560  
Trend Micro, Inc.
    2,800       72,962  
Yahoo! Japan Corp.
    1,062       356,447  
                 
              2,906,667  
                 
 
Technology Hardware & Equipment 1.4%
Alps Electric Co., Ltd.
    35,400       222,350  
Brother Industries Ltd.
    35,400       342,968  
Canon, Inc.
    93,100       3,254,605  
FUJIFILM Holdings Corp.
    35,400       648,592  
Fujitsu Ltd.
    71,000       268,607  
Hamamatsu Photonics K.K.
    2,100       73,972  
Hitachi Ltd.
    354,000       2,043,216  
Hoya Corp.
    35,400       679,498  
Keyence Corp.
    2,800       781,569  
Konica Minolta Holdings, Inc.
    10,000       71,299  
Kyocera Corp.
    10,500       966,351  
Murata Manufacturing Co., Ltd.
    28,200       1,596,872  
NEC Corp. *
    82,000       143,179  
OMRON Corp.
    35,400       784,234  
Ricoh Co., Ltd.
    47,000       435,977  
Taiyo Yuden Co., Ltd.
    3,300       28,650  
Toshiba Corp.
    225,000       766,643  
Yokogawa Electric Corp.
    10,000       105,857  
                 
              13,214,439  
                 
 
Telecommunication Services 0.7%
KDDI Corp.
    23,800       1,760,398  
Nippon Telegraph & Telephone Corp.
    35,400       1,581,775  
NTT DoCoMo, Inc.
    1,162       1,675,297  
SOFTBANK Corp.
    49,300       1,847,181  
                 
              6,864,651  
                 
 
Transportation 0.8%
All Nippon Airways Co., Ltd. (c)
    354,000       759,767  
Central Japan Railway Co.
    15,200       1,203,541  
East Japan Railway Co.
    35,400       2,322,226  
Fukuyama Transporting Co., Ltd.
    2,000       10,089  
Kawasaki Kisen Kaisha Ltd. *
    6,000       7,930  
Kintetsu Corp.
    7,000       27,840  
Nishi-Nippon Railroad Co., Ltd.
    15,000       62,204  
Sotetsu Holdings, Inc.
    4,000       13,193  
Tobu Railway Co., Ltd.
    89,000       459,731  
Tokyu Corp.
    192,000       984,795  
West Japan Railway Co.
    35,400       1,414,369  
                 
              7,265,685  
                 
 
Utilities 0.4%
Chubu Electric Power Co., Inc.
    41,600       561,930  
Electric Power Development Co., Ltd.
    11,000       278,368  
Hokkaido Electric Power Co., Inc.
    3,000       29,647  
Hokuriku Electric Power Co.
    2,000       22,141  
Kyushu Electric Power Co., Inc.
    35,400       331,379  
Osaka Gas Co., Ltd.
    92,000       361,441  
Shikoku Electric Power Co., Inc.
    8,500       115,539  
The Chugoku Electric Power Co., Inc.
    36,000       519,025  
The Kansai Electric Power Co., Inc.
    70,800       673,059  
Toho Gas Co., Ltd.
    22,000       127,780  
Tohoku Electric Power Co., Inc. *
    17,600       159,418  
Tokyo Electric Power Co., Inc. *
    106,200       167,406  
Tokyo Gas Co., Ltd.
    100,000       491,088  
                 
              3,838,221  
                 
              146,168,103  
 
Netherlands 2.2%
                 
 
Capital Goods 0.2%
Koninklijke Boskalis Westminster N.V.
    2,832       119,541  
Koninklijke Philips Electronics N.V.
    77,172       1,993,346  
                 
              2,112,887  
                 
 
Commercial & Professional Services 0.0%
Randstad Holding N.V.
    10,266       333,866  
 
 
 
10 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Diversified Financials 0.2%
ING Groep N.V. CVA *
    257,358       2,312,914  
                 
 
Energy 0.1%
Fugro N.V. CVA
    6,018       361,099  
SBM Offshore N.V. *
    11,682       131,090  
                 
              492,189  
                 
 
Food & Staples Retailing 0.1%
Koninklijke Ahold N.V.
    84,960       1,078,028  
                 
 
Food, Beverage & Tobacco 0.7%
DE Master Blenders 1753 N.V. *
    54,870       631,571  
Heineken Holding N.V.
    7,788       421,673  
Heineken N.V.
    19,470       1,284,113  
Unilever N.V. CVA
    108,678       4,123,787  
                 
              6,461,144  
                 
 
Insurance 0.1%
AEGON N.V.
    142,662       820,671  
                 
 
Materials 0.3%
Akzo Nobel N.V.
    16,284       930,604  
ArcelorMittal
    89,208       1,355,739  
Koninklijke DSM N.V.
    13,098       754,406  
                 
              3,040,749  
                 
 
Media 0.1%
Reed Elsevier N.V.
    49,206       710,690  
Wolters Kluwer N.V.
    21,240       408,294  
                 
              1,118,984  
                 
 
Real Estate 0.0%
Corio N.V.
    5,733       256,908  
                 
 
Semiconductors & Semiconductor Equipment 0.2%
ASML Holding N.V.
    23,165       1,447,368  
                 
 
Telecommunication Services 0.1%
Koninklijke (Royal) KPN N.V.
    112,572       636,888  
                 
 
Transportation 0.1%
Koninklijke Vopak N.V.
    1,770       130,780  
PostNL N.V. *
    24,587       83,558  
TNT Express N.V.
    31,860       310,779  
                 
              525,117  
                 
              20,637,713  
 
New Zealand 0.1%
                 
 
Consumer Services 0.0%
SKYCITY Entertainment Group Ltd.
    65,844       202,090  
                 
 
Health Care Equipment & Services 0.0%
Fisher & Paykel Healthcare Corp., Ltd.
    21,948       46,110  
                 
 
Materials 0.0%
Fletcher Building Ltd.
    27,258       177,165  
                 
 
Real Estate 0.0%
Kiwi Income Property Trust
    180,540       173,347  
                 
 
Telecommunication Services 0.0%
Chorus Ltd.
    32,922       91,860  
Telecom Corp. of New Zealand Ltd.
    140,892       267,089  
                 
              358,949  
                 
 
Transportation 0.1%
Auckland International Airport Ltd.
    205,320       451,569  
                 
              1,409,230  
 
Norway 0.9%
                 
 
Banks 0.1%
DnB A.S.A.
    82,128       1,023,074  
                 
 
Capital Goods 0.1%
Orkla A.S.A.
    70,800       576,306  
                 
 
Energy 0.4%
Aker Solutions A.S.A.
    7,434       139,926  
Kvaerner A.S.A.
    18,408       54,930  
Seadrill Ltd.
    24,780       953,843  
Statoil A.S.A.
    99,120       2,423,985  
Subsea 7 S.A.
    14,514       331,876  
                 
              3,904,560  
                 
 
Insurance 0.0%
Gjensidige Forsikring A.S.A.
    7,080       99,822  
Storebrand A.S.A. *
    27,153       130,600  
                 
              230,422  
                 
 
Materials 0.1%
Norsk Hydro A.S.A.
    70,889       339,960  
Yara International A.S.A.
    17,700       887,899  
                 
              1,227,859  
                 
 
Telecommunication Services 0.2%
Telenor A.S.A.
    63,366       1,286,688  
                 
              8,248,909  
 
Portugal 0.2%
                 
 
Banks 0.0%
Banco Comercial Portugues S.A. - Reg’d *
    1,014,408       92,354  
Banco Espirito Santo S.A. - Reg’d *
    25,285       25,223  
                 
              117,577  
                 
 
Energy 0.0%
Galp Energia, SGPS, S.A.
    24,072       369,122  
                 
 
Food & Staples Retailing 0.1%
Jeronimo Martins, SGPS, S.A.
    24,072       449,114  
                 
 
Telecommunication Services 0.0%
Portugal Telecom, SGPS, S.A. - Reg’d
    40,356       187,484  
                 
 
Utilities 0.1%
EDP - Energias de Portugal S.A.
    250,278       633,445  
                 
              1,756,742  
 
Republic of Korea 4.9%
                 
 
Automobiles & Components 0.6%
Halla Climate Control Corp.
    250       5,622  
Hankook Tire Co., Ltd. *
    7,937       336,068  
Hyundai Mobis
    4,316       1,137,940  
Hyundai Motor Co.
    11,262       2,345,275  
Hyundai Wia Corp.
    1,822       306,232  
Kia Motors Corp.
    21,068       1,204,330  
Mando Corp.
    1,575       178,176  
                 
              5,513,643  
 
 
 
 11

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Banks 0.3%
BS Financial Group, Inc.
    4,800       53,636  
DGB Financial Group, Inc.
    1,200       14,961  
Hana Financial Group, Inc.
    15,600       484,056  
Industrial Bank of Korea
    3,300       35,046  
KB Financial Group, Inc. ADR
    37,190       1,222,435  
Shinhan Financial Group Co., Ltd. ADR
    41,900       1,342,476  
Woori Finance Holdings Co., Ltd.
    7,200       67,489  
                 
              3,220,099  
                 
 
Capital Goods 0.6%
CJ Corp.
    1,000       99,275  
Daelim Industrial Co., Ltd.
    1,800       131,154  
Daewoo Engineering & Construction Co., Ltd. *
    7,000       61,412  
Daewoo International Corp.
    5,027       185,463  
Daewoo Shipbuilding & Marine Engineering Co., Ltd.
    4,930       110,633  
Doosan Corp.
    1,746       203,970  
Doosan Heavy Industries & Construction Co., Ltd.
    2,150       80,711  
Doosan Infracore Co., Ltd. *
    4,610       69,181  
GS Engineering & Construction Corp.
    2,000       98,629  
Hyundai Development Co.
    4,000       76,465  
Hyundai Engineering & Construction Co., Ltd.
    5,409       339,670  
Hyundai Heavy Industries Co., Ltd.
    4,038       786,829  
Hyundai Mipo Dockyard Co., Ltd.
    620       64,700  
KCC Corp.
    300       79,235  
LG Corp.
    5,536       332,308  
LG Hausys Ltd.
    1,709       133,835  
LS Corp.
    1,683       146,875  
Samsung C&T Corp.
    10,000       548,553  
Samsung Engineering Co., Ltd.
    2,432       363,840  
Samsung Heavy Industries Co., Ltd.
    17,240       580,319  
Samsung Techwin Co., Ltd.
    3,201       171,453  
SK Holdings Co., Ltd.
    3,220       533,767  
STX Offshore & Shipbuilding Co., Ltd.
    3,100       19,753  
                 
              5,218,030  
                 
 
Consumer Durables & Apparel 0.1%
LG Electronics, Inc.
    6,330       446,026  
Woongjin Coway Co., Ltd.
    4,500       165,812  
                 
              611,838  
                 
 
Consumer Services 0.0%
Kangwon Land, Inc.
    7,430       212,364  
                 
 
Diversified Financials 0.1%
Daewoo Securities Co., Ltd.
    20,008       197,706  
Hankook Tire Worldwide Co., Ltd.
    1,082       14,888  
Hyundai Securities Co., Ltd.
    9,000       67,821  
Korea Investment Holdings Co., Ltd.
    2,650       96,299  
Samsung Card Co., Ltd.
    2,960       99,364  
Samsung Securities Co., Ltd.
    3,836       175,354  
Woori Investment & Securities Co., Ltd.
    24,960       245,485  
                 
              896,917  
                 
 
Energy 0.2%
GS Holdings
    2,180       143,542  
S-Oil Corp.
    6,110       552,402  
SK Innovation Co., Ltd.
    4,815       735,912  
                 
              1,431,856  
                 
 
Food & Staples Retailing 0.0%
E-Mart Co., Ltd.
    1,147       230,915  
                 
 
Food, Beverage & Tobacco 0.1%
CJ CheilJedang Corp.
    500       155,377  
KT&G Corp.
    6,506       514,904  
Lotte Chilsung Beverage Co., Ltd.
    55       72,124  
Lotte Confectionery Co., Ltd.
    50       67,692  
NongShim Co., Ltd.
    270       63,458  
ORION Corp.
    264       273,789  
                 
              1,147,344  
                 
 
Household & Personal Products 0.1%
Amorepacific Corp.
    203       229,836  
AMOREPACIFIC Group
    700       313,201  
LG Household & Health Care Ltd.
    620       369,876  
                 
              912,913  
                 
 
Insurance 0.2%
Dongbu Insurance Co., Ltd.
    3,650       156,739  
Hanwha Life Insurance Co., Ltd.
    20,000       138,893  
Hyundai Marine & Fire Insurance Co., Ltd.
    6,000       185,344  
Samsung Fire & Marine Insurance Co., Ltd.
    2,930       592,575  
Samsung Life Insurance Co., Ltd.
    5,624       483,015  
                 
              1,556,566  
                 
 
Materials 0.5%
Cheil Industries, Inc.
    3,550       313,741  
Hanwha Chemical Corp.
    5,040       77,728  
Hanwha Corp.
    4,090       120,300  
Honam Petrochemical Corp.
    1,026       203,239  
Hyosung Corp.
    1,350       84,527  
Hyundai Steel Co.
    2,037       151,056  
Korea Zinc Co., Ltd.
    1,111       447,847  
Kumho Petro Chemical Co., Ltd.
    828       85,641  
LG Chem Ltd.
    3,595       1,035,822  
OCI Co., Ltd.
    1,338       186,580  
POSCO ADR
    27,800       2,068,042  
Samsung Fine Chemicals Co., Ltd.
    1,257       73,132  
                 
              4,847,655  
                 
 
Media 0.0%
Cheil Worldwide, Inc.
    10,000       195,318  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Celltrion, Inc.
    4,633       111,242  
Yuhan Corp.
    434       67,934  
                 
              179,176  
                 
 
Retailing 0.1%
Hyundai Department Store Co., Ltd.
    1,016       141,209  
Lotte Midopa Co., Ltd.
    5,500       67,300  
Lotte Shopping Co., Ltd.
    582       192,683  
Shinsegae Co., Ltd.
    352       65,501  
                 
              466,693  
                 
 
Semiconductors & Semiconductor Equipment 1.5%
Samsung Electronics Co., Ltd. GDR - Reg’d
    20,300       13,296,500  
SK Hynix, Inc. *
    33,220       748,551  
                 
              14,045,051  
 
 
 
12 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Software & Services 0.1%
Daum Communications Corp.
    1,876       147,086  
NCsoft Corp.
    1,050       156,601  
NHN Corp.
    3,259       758,432  
SK C&C Co. Ltd.
    1,000       91,702  
                 
              1,153,821  
                 
 
Technology Hardware & Equipment 0.1%
LG Display Co., Ltd. ADR *
    53,550       850,374  
Samsung Electro-Mechanics Co., Ltd.
    2,664       259,548  
Samsung SDI Co., Ltd.
    1,000       143,603  
                 
              1,253,525  
                 
 
Telecommunication Services 0.1%
KT Corp. ADR
    24,426       420,371  
LG Uplus Corp.
    12,400       85,541  
SK Telecom Co., Ltd. ADR
    40,002       610,831  
                 
              1,116,743  
                 
 
Transportation 0.1%
CJ Korea Express Co., Ltd. *
    1,164       119,318  
Hanjin Shipping Co., Ltd. *
    9,500       92,557  
Hyundai Glovis Co., Ltd.
    500       108,972  
Hyundai Merchant Marine Co., Ltd. *
    3,567       74,776  
Korean Air Lines Co., Ltd. *
    2,299       95,433  
                 
              491,056  
                 
 
Utilities 0.1%
Korea Electric Power Corp. ADR *
    86,250       1,058,287  
                 
              45,759,810  
 
Singapore 1.7%
                 
 
Banks 0.4%
DBS Group Holdings Ltd.
    61,000       722,234  
Oversea-Chinese Banking Corp., Ltd.
    354,000       2,729,436  
United Overseas Bank Ltd.
    30,000       460,158  
                 
              3,911,828  
                 
 
Capital Goods 0.3%
Cosco Corp. Singapore Ltd. (c)
    28,000       20,419  
Fraser and Neave Ltd.
    39,000       301,020  
Keppel Corp., Ltd.
    75,000       658,159  
Noble Group Ltd.
    404,181       359,324  
Singapore Technologies Engineering Ltd.
    354,000       1,064,509  
Yangzijiang Shipbuilding Holdings Ltd.
    401,000       307,210  
                 
              2,710,641  
                 
 
Consumer Services 0.1%
Genting Singapore plc (c)
    354,000       371,273  
                 
 
Diversified Financials 0.0%
Singapore Exchange Ltd.
    8,000       45,164  
                 
 
Food & Staples Retailing 0.0%
Olam International Ltd. (c)
    154,772       199,734  
                 
 
Food, Beverage & Tobacco 0.1%
Golden Agri-Resources Ltd.
    708,000       382,875  
Indofood Agri Resources Ltd. (c)
    37,000       38,502  
Wilmar International Ltd.
    266,000       695,268  
                 
              1,116,645  
                 
 
Media 0.0%
Singapore Press Holdings Ltd.
    69,000       236,323  
                 
 
Real Estate 0.4%
CapitaCommercial Trust (c)
    354,000       469,892  
Capitaland Ltd.
    354,000       1,023,901  
CapitaMall Trust
    354,000       600,418  
Keppel Land Ltd.
    33,000       97,341  
Wing Tai Holdings Ltd.
    489,000       699,173  
Yanlord Land Group Ltd. *(c)
    434,000       512,073  
                 
              3,402,798  
                 
 
Retailing 0.1%
Jardine Cycle & Carriage Ltd.
    10,000       399,770  
                 
 
Technology Hardware & Equipment 0.0%
Venture Corp., Ltd.
    23,000       147,372  
                 
 
Telecommunication Services 0.2%
Singapore Telecommunications Ltd.
    708,000       1,920,177  
                 
 
Transportation 0.1%
ComfortDelGro Corp., Ltd.
    354,000       498,898  
Hutchison Port Holdings Trust
    95,000       73,625  
Neptune Orient Lines Ltd. *(c)
    381,000       340,276  
Singapore Post Ltd.
    354,000       335,016  
                 
              1,247,815  
                 
              15,709,540  
 
Spain 2.5%
                 
 
Banks 1.0%
Banco Bilbao Vizcaya Argentaria S.A.
    342,672       2,907,611  
Banco de Sabadell S.A. *
    237,180       661,990  
Banco Popular Espanol S.A.
    90,761       75,784  
Banco Santander S.A.
    670,830       5,159,855  
Bankinter S.A.
    24,426       97,211  
CaixaBank
    94,872       362,645  
                 
              9,265,096  
                 
 
Capital Goods 0.1%
ACS, Actividades de Construccion y Servicios S.A.
    14,160       302,675  
Ferrovial S.A.
    35,754       529,887  
Zardoya Otis S.A.
    10,666       146,074  
                 
              978,636  
                 
 
Diversified Financials 0.0%
Corporacion Financiera Alba S.A.
    2,832       117,829  
                 
 
Energy 0.2%
Repsol S.A.
    84,606       1,794,729  
                 
 
Food & Staples Retailing 0.0%
Distribuidora Internacional de Alimentacion S.A.
    38,940       241,680  
                 
 
Insurance 0.0%
Mapfre S.A.
    52,392       147,321  
                 
 
Materials 0.0%
Acerinox S.A.
    16,992       172,820  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Grifols S.A. *
    16,992       543,544  
                 
 
Retailing 0.3%
Inditex S.A.
    18,054       2,474,900  
                 
 
Software & Services 0.1%
Amadeus IT Holding S.A.
    27,612       644,623  
 
 
 
 13

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Telecommunication Services 0.4%
Telefonica S.A.
    305,148       4,004,473  
                 
 
Transportation 0.0%
Abertis Infraestructuras S.A.
    26,550       387,955  
                 
 
Utilities 0.3%
Enagas S.A.
    15,930       326,007  
Gas Natural SDG S.A.
    37,878       587,967  
Iberdrola S.A.
    337,362       1,676,113  
Red Electrica Corporacion S.A.
    1,770       82,022  
                 
              2,672,109  
                 
              23,445,715  
 
Sweden 2.7%
                 
 
Banks 0.6%
Nordea Bank AB
    225,852       2,065,626  
Skandinaviska Enskilda Banken AB, A Shares
    151,158       1,215,629  
Svenska Handelsbanken AB, A Shares
    42,126       1,496,208  
Swedbank AB, A Shares
    47,790       882,063  
                 
              5,659,526  
                 
 
Capital Goods 0.9%
Alfa Laval AB
    25,134       493,719  
Assa Abloy AB, B Shares
    33,984       1,228,460  
Atlas Copco AB, A Shares
    51,330       1,321,273  
Atlas Copco AB, B Shares
    30,798       709,972  
Sandvik AB
    65,844       983,403  
Scania AB, B Shares
    30,444       631,402  
Skanska AB, B Shares
    30,798       488,887  
SKF AB, B Shares
    37,878       910,160  
Volvo AB, B Shares
    104,076       1,473,135  
                 
              8,240,411  
                 
 
Commercial & Professional Services 0.0%
Securitas AB, B Shares
    35,046       273,949  
                 
 
Consumer Durables & Apparel 0.1%
Electrolux AB, Series B
    21,948       573,858  
Husqvarna AB, B Shares
    10,028       60,210  
                 
              634,068  
                 
 
Diversified Financials 0.2%
Industrivarden AB, A Shares
    20,532       312,973  
Investment AB Kinnevik, B Shares
    9,912       192,920  
Investor AB, B Shares
    41,772       966,715  
Ratos AB, B Shares
    3,540       35,221  
                 
              1,507,829  
                 
 
Energy 0.0%
Lundin Petroleum AB *
    12,390       292,506  
                 
 
Food, Beverage & Tobacco 0.1%
Swedish Match AB
    27,258       958,719  
                 
 
Health Care Equipment & Services 0.1%
Elekta AB, B Shares
    9,912       143,127  
Getinge AB, B Shares
    14,868       478,950  
                 
              622,077  
                 
 
Household & Personal Products 0.1%
Svenska Cellulosa AB, B Shares
    40,710       823,530  
                 
 
Materials 0.1%
Boliden AB
    13,452       237,779  
Holmen AB, B Shares
    10,620       305,265  
SSAB AB, A Shares
    8,142       66,213  
                 
              609,257  
                 
 
Media 0.0%
Modern Times Group, B Shares
    2,832       94,801  
                 
 
Retailing 0.1%
Hennes & Mauritz AB, B Shares
    42,834       1,388,839  
                 
 
Technology Hardware & Equipment 0.2%
Hexagon AB, B Shares
    17,346       428,785  
Telefonaktiebolaget LM Ericsson, B Shares
    211,692       1,971,091  
                 
              2,399,876  
                 
 
Telecommunication Services 0.2%
Tele2 AB, B Shares
    32,214       562,646  
TeliaSonera AB
    152,220       1,020,027  
                 
              1,582,673  
                 
              25,088,061  
 
Switzerland 7.4%
                 
 
Banks 0.0%
Banque Cantonale Vaudoise - Reg’d
    354       194,310  
                 
 
Capital Goods 0.6%
ABB Ltd. - Reg’d *
    181,602       3,540,298  
Geberit AG - Reg’d *
    4,248       897,839  
Schindler Holding AG
    4,248       596,114  
Schindler Holding AG - Reg’d
    6,018       841,896  
Sulzer AG - Reg’d
    1,062       164,505  
                 
              6,040,652  
                 
 
Commercial & Professional Services 0.2%
Adecco S.A. - Reg’d *
    12,036       594,914  
SGS S.A. - Reg’d
    354       794,437  
                 
              1,389,351  
                 
 
Consumer Durables & Apparel 0.5%
Compagnie Financiere Richemont S.A., A Shares
    35,754       2,757,581  
The Swatch Group AG
    2,478       1,197,272  
The Swatch Group AG - Reg’d
    6,018       499,227  
                 
              4,454,080  
                 
 
Diversified Financials 0.8%
Credit Suisse Group AG - Reg’d *
    84,252       1,995,346  
GAM Holding AG *
    13,452       172,797  
Julius Baer Group Ltd. *
    21,074       722,030  
Pargesa Holding S.A.
    1,770       118,936  
UBS AG - Reg’d *
    282,175       4,416,599  
                 
              7,425,708  
                 
 
Energy 0.1%
Transocean Ltd.
    24,426       1,118,998  
                 
 
Food, Beverage & Tobacco 1.6%
Aryzta AG
    6,726       340,148  
Nestle S.A. - Reg’d
    227,622       14,902,066  
                 
              15,242,214  
                 
 
Health Care Equipment & Services 0.1%
Nobel Biocare Holding AG - Reg’d *
    8,142       64,334  
Sonova Holding AG - Reg’d *
    3,894       425,381  
 
 
 
14 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Straumann Holding AG - Reg’d
    708       82,692  
                 
              572,407  
                 
 
Insurance 0.5%
Baloise Holding AG - Reg’d
    3,186       267,392  
Swiss Re AG *
    26,904       1,938,517  
Zurich Insurance Group AG *
    10,620       2,711,172  
                 
              4,917,081  
                 
 
Materials 0.6%
Givaudan S.A. - Reg’d *
    1,062       1,066,700  
Holcim Ltd. - Reg’d *
    15,222       1,043,390  
Syngenta AG - Reg’d
    8,496       3,407,021  
                 
              5,517,111  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 2.2%
Actelion Ltd. - Reg’d *
    1,062       52,619  
Novartis AG - Reg’d
    186,204       11,527,201  
Roche Holding AG
    47,790       9,409,430  
                 
              20,989,250  
                 
 
Real Estate 0.0%
Swiss Prime Site AG - Reg’d *
    2,124       170,810  
                 
 
Telecommunication Services 0.1%
Swisscom AG - Reg’d
    2,124       894,629  
                 
 
Transportation 0.1%
Kuehne & Nagel International AG - Reg’d
    3,540       426,451  
                 
              69,353,052  
 
United Kingdom 18.8%
                 
 
Automobiles & Components 0.0%
GKN plc
    116,466       414,372  
                 
 
Banks 2.4%
Barclays plc
    853,140       3,363,518  
HSBC Holdings plc
    1,238,646       12,659,076  
Lloyds Banking Group plc *
    3,079,092       2,294,390  
Royal Bank of Scotland Group plc *
    139,536       660,148  
Standard Chartered plc
    169,969       3,963,429  
                 
              22,940,561  
                 
 
Capital Goods 0.7%
BAE Systems plc
    238,950       1,253,405  
Bunzl plc
    19,116       315,247  
Cobham plc
    69,030       234,538  
IMI plc
    14,868       251,149  
Invensys plc
    54,516       275,652  
Meggitt plc
    45,312       282,779  
Rolls-Royce Holdings plc *
    124,962       1,783,406  
Smiths Group plc
    32,568       571,536  
The Weir Group plc
    12,744       386,017  
Wolseley plc *
    23,010       1,068,325  
                 
              6,422,054  
                 
 
Commercial & Professional Services 0.3%
Aggreko plc
    19,116       683,801  
Capita plc
    44,250       540,744  
Experian plc
    69,738       1,159,009  
G4S plc
    100,536       398,298  
Hays plc
    109,386       136,389  
Rentokil Initial plc
    157,884       227,729  
                 
              3,145,970  
                 
 
Consumer Durables & Apparel 0.1%
Burberry Group plc
    35,046       722,862  
                 
 
Consumer Services 0.5%
Carnival plc
    20,178       816,541  
Compass Group plc
    159,300       1,840,727  
InterContinental Hotels Group plc
    17,164       458,831  
Ladbrokes plc
    100,182       312,764  
TUI Travel plc
    69,738       303,220  
Whitbread plc
    20,886       803,015  
William Hill plc
    82,128       443,831  
                 
              4,978,929  
                 
 
Diversified Financials 0.2%
3i Group plc
    76,110       258,105  
Ashmore Group plc
    24,426       141,005  
Hargreaves Lansdown plc
    16,284       197,558  
ICAP plc
    59,118       276,183  
Investec plc
    27,966       171,077  
London Stock Exchange Group plc
    7,080       110,914  
Man Group plc
    47,790       58,822  
Schroders plc
    10,974       280,696  
Schroders plc, Non-Voting Shares
    7,080       148,075  
                 
              1,642,435  
                 
 
Energy 3.3%
AMEC plc
    23,364       390,918  
BG Group plc
    237,888       4,079,385  
BP plc
    1,340,598       9,272,960  
Cairn Energy plc *
    25,134       108,235  
Essar Energy plc *
    31,506       60,440  
John Wood Group plc
    35,754       445,230  
Petrofac Ltd.
    18,408       480,285  
Royal Dutch Shell plc, A Shares
    259,836       8,701,218  
Royal Dutch Shell plc, B Shares
    176,646       6,099,422  
Tullow Oil plc
    70,092       1,546,824  
                 
              31,184,917  
                 
 
Food & Staples Retailing 0.5%
J Sainsbury plc
    138,768       759,261  
Tesco plc
    559,320       2,914,176  
William Morrison Supermarkets plc
    186,912       805,202  
                 
              4,478,639  
                 
 
Food, Beverage & Tobacco 2.6%
Associated British Foods plc
    26,196       620,509  
British American Tobacco plc
    141,600       7,429,854  
Diageo plc
    177,000       5,267,730  
Imperial Tobacco Group plc
    70,092       2,804,952  
SABMiller plc
    84,252       3,817,871  
Tate & Lyle plc
    38,940       482,407  
Unilever plc
    92,748       3,571,879  
                 
              23,995,202  
                 
 
Health Care Equipment & Services 0.1%
Smith & Nephew plc
    60,180       634,142  
                 
 
Household & Personal Products 0.4%
Reckitt Benckiser Group plc
    56,640       3,562,881  
                 
 
Insurance 0.8%
Aviva plc
    198,594       1,115,559  
Legal & General Group plc
    465,510       1,086,993  
Old Mutual plc
    365,479       1,003,363  
Prudential plc
    207,444       3,008,762  
Resolution Ltd.
    246,422       938,744  
 
 
 
 15

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Standard Life plc
    150,804       773,395  
                 
              7,926,816  
                 
 
Materials 2.3%
Anglo American plc
    98,058       2,722,668  
Antofagasta plc
    18,408       379,980  
BHP Billiton plc
    154,344       4,853,188  
CRH plc
    51,684       945,934  
Fresnillo plc
    14,514       462,426  
Glencore International plc
    374,837       2,075,529  
Johnson Matthey plc
    13,848       532,422  
Kazakhmys plc
    22,656       259,069  
Randgold Resources Ltd.
    6,018       642,822  
Rexam plc
    73,278       514,030  
Rio Tinto plc
    99,828       4,949,267  
Vedanta Resources plc
    8,496       145,828  
Xstrata plc
    166,734       2,763,014  
                 
              21,246,177  
                 
 
Media 0.5%
Aegis Group plc
    85,668       322,645  
British Sky Broadcasting Group plc
    81,774       994,707  
Daily Mail & General Trust plc, A Shares
    15,576       131,554  
ITV plc
    323,556       512,843  
Pearson plc
    50,268       949,020  
Reed Elsevier plc
    73,986       761,835  
WPP plc
    86,376       1,184,964  
                 
              4,857,568  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 1.4%
AstraZeneca plc
    101,244       4,813,401  
GlaxoSmithKline plc
    335,592       7,177,423  
Shire plc
    37,170       1,075,842  
                 
              13,066,666  
                 
 
Real Estate 0.3%
British Land Co. plc
    96,996       854,978  
Capital Shopping Centres Group plc
    76,464       423,393  
Hammerson plc
    75,048       566,738  
Land Securities Group plc
    55,578       719,702  
SEGRO plc
    69,738       264,102  
                 
              2,828,913  
                 
 
Retailing 0.2%
Kingfisher plc
    147,264       656,115  
Marks & Spencer Group plc
    99,828       624,918  
Next plc
    11,328       664,647  
                 
              1,945,680  
                 
 
Semiconductors & Semiconductor Equipment 0.1%
ARM Holdings plc
    99,474       1,233,925  
                 
 
Software & Services 0.1%
The Sage Group plc
    90,978       454,331  
                 
 
Telecommunication Services 1.2%
BT Group plc
    528,876       1,979,152  
Inmarsat plc
    30,798       289,981  
Vodafone Group plc
    3,430,968       8,861,053  
                 
              11,130,186  
                 
 
Transportation 0.0%
International Consolidated Airlines Group S.A. *
    81,420       220,133  
                 
 
Utilities 0.8%
Centrica plc
    379,134       1,980,229  
Drax Group plc
    25,842       224,059  
National Grid plc
    232,932       2,631,823  
Severn Trent plc
    18,054       467,288  
SSE plc
    63,366       1,447,136  
United Utilities Group plc
    44,604       487,167  
                 
              7,237,702  
                 
              176,271,061  
                 
Total Common Stock
(Cost $906,505,430)     923,951,455  
         
                 
                 
 
 Other Investment Companies 0.4% of net assets
 
United States 0.4%
iShares MSCI EAFE Index Fund
    60,000       3,305,400  
State Street Institutional U.S. Government Money Market Fund
    519,563       519,563  
                 
Total Other Investment Companies
(Cost $3,823,415)     3,824,963  
         
                 
                 
 
 Preferred Stock 0.5% of net assets
 
Germany 0.5%
                 
 
Automobiles & Components 0.4%
Porsche Automobil Holding SE
    11,328       839,792  
Volkswagen AG
    12,744       2,758,883  
                 
              3,598,675  
                 
 
Household & Personal Products 0.1%
Henkel AG & Co. KGaA
    10,620       887,445  
                 
              4,486,120  
 
Italy 0.0%
                 
 
Diversified Financials 0.0%
EXOR S.p.A.
    3,186       68,371  
 
United Kingdom 0.0%
                 
 
Capital Goods 0.0%
Rolls-Royce Holdings plc *(a)(b)
    9,041,036       14,489  
                 
Total Preferred Stock
(Cost $3,339,971)     4,568,980  
         
                 
                 
 
 Rights 0.0% of net assets
 
Republic of Korea 0.0%
                 
 
Transportation 0.0%
Hyundai Merchant Marine Co., Ltd. *(b)
    221       512  
 
 
 
16 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Spain 0.0%
                 
 
Banks 0.0%
Banco Popular Espanol S.A. *(a)
    83,081       65,914  
 
Switzerland 0.0%
                 
 
Real Estate 0.0%
Swiss Prime Site AG *
    2,076       2,241  
                 
Total Rights
(Cost $218,124)     68,667  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 0.2% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    2,029,898       2,029,898  
                 
Total Collateral Invested for Securities on Loan
(Cost $2,029,898)     2,029,898  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $914,373,255 and the unrealized appreciation and depreciation were $92,890,810 and ($74,850,000), respectively, with a net unrealized appreciation of $18,040,810.
 
* Non-income producing security.
(a) Fair-valued by management in accordance with procedures approved by the Board of Trustees.
(b) Illiquid security. At the period end, the value of these amounted to $15,001 or 0% of net assets.
(c) All or a portion of this security is on loan.
 
     
ADR —
  American Depositary Receipt
CDI —
  CHESS Depositary Interest
CVA —
  Dutch Certificate
GDR —
  Global Depositary Receipt
Reg’d —
  Registered
REIT —
  Real Estate Investment Trust
RSP —
  Risparmio (Convertible Savings Shares)
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
 
 
 17

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $923,951,455       $—       $—       $923,951,455  
Other Investment Companies1
    3,824,963       —       —       3,824,963  
Preferred Stock1
    4,554,491       —       —       4,554,491  
United Kingdom1
    —       —       14,489       14,489  
Rights1
    —       —       65,914       65,914  
Republic of Korea1
    512       —       —       512  
Switzerland1
    2,241       —       —       2,241  
                                 
Total
    $932,333,662       $—       $80,403       $932,414,065  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $2,029,898       $—       $—       $2,029,898  
 
     
1
  As categorized in Portfolio Holdings.
 
 
 
18 

 

 
 Schwab International Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
 
                                                                 
    Balance
 		      Change in
 		                  Balance
    as of
 		  Realized
 		  Unrealized
 		          Gross
 		  Gross
 		  as of
    August 31,
 		  Gains
 		  Gains
 		  Gross
 		  Gross
 		  Transfers
 		  Transfers
 		  November 30,
Investments in Securities
 
2012
 
(Losses)
 
(Losses)
 
Purchases
 
Sales
 
in
 
out
 
2012
 
Common Stock
                                                               
Republic of Korea
    $213,385       $—       $—       $—       $—       $—       ($213,385 )     $—  
Preferred Stock
                                                               
United Kingdom
    —       —       (3 )     14,492       —       —       —       $14,489  
Rights
                                                               
Spain
    —       —       (152,210 )     218,124       —       —       —       $65,914  
                                                                 
Total
    $213,385       $—       ($152,213 )     $232,616       $—       $—       ($213,385 )     $80,403  
                                                                 
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were transfers in and out of Level 3 from Level 1 due to the result of fair valued securities for which no quoted value was available. There were no transfers between Level 1 and Level 2 for the period ended November 30, 2012.
 
REG54094NOV12
 
 
 
 19

 

Schwab Strategic Trust
Schwab International Small-Cap Equity ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  98 .1%   Common Stock     192,535,041       195,267,298  
  0 .8%   Other Investment Companies     1,541,704       1,602,326  
  0 .6%   Preferred Stock     946,927       1,140,830  
  0 .0%   Rights     21,471       9,568  
 
 
  99 .5%   Total Investments     195,045,143       198,020,022  
  3 .2%   Collateral Invested for Securities on Loan     6,356,378       6,356,378  
  (2 .7)%   Other Assets and
Liabilities, Net 		            (5,458,384 )
 
 
  100 .0%   Net Assets             198,918,016  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 98.1% of net assets
 
Australia 6.9%
                 
 
Capital Goods 0.6%
Ausdrill Ltd.
    18,750       42,056  
Boart Longyear Ltd.
    72,600       108,687  
Bradken Ltd.
    26,607       129,351  
Cardno Ltd.
    15,000       93,110  
Emeco Holdings Ltd.
    66,486       35,721  
Macmahon Holdings Ltd.
    242,003       68,167  
Monadelphous Group Ltd. (c)
    11,204       254,460  
NRW Holdings Ltd.
    55,950       77,340  
Seven Group Holdings Ltd.
    15,000       116,896  
UGL Ltd.
    20,789       231,413  
                 
              1,157,201  
                 
 
Commercial & Professional Services 0.4%
Cabcharge Australia Ltd. (c)
    31,757       128,215  
Mineral Resources Ltd.
    7,500       65,490  
SAI Global Ltd.
    44,342       198,917  
Seek Ltd.
    42,008       299,324  
Transfield Services Ltd.
    85,300       151,282  
Transpacific Industries Group Ltd. *
    56,250       41,958  
                 
              885,186  
                 
 
Consumer Durables & Apparel 0.1%
Billabong International Ltd.
    33,702       32,347  
G.U.D. Holdings Ltd.
    22,285       194,127  
                 
              226,474  
                 
 
Consumer Services 0.3%
Invocare Ltd.
    42,384       394,859  
Navitas Ltd. (c)
    40,028       180,400  
                 
              575,259  
                 
 
Diversified Financials 0.1%
FlexiGroup Ltd.
    37,500       149,837  
                 
 
Energy 0.5%
Aurora Oil & Gas Ltd. *
    85,650       324,356  
AWE Ltd.
    98,362       133,401  
Beach Energy Ltd.
    86,416       129,821  
Coalspur Mines Ltd. *(c)
    76,875       69,373  
Drillsearch Energy Ltd. *(c)
    42,075       65,842  
Karoon Gas Australia Ltd. *
    43,125       220,452  
Senex Energy Ltd. *(c)
    103,838       74,747  
                 
              1,017,992  
                 
 
Food, Beverage & Tobacco 0.3%
Australian Agricultural Co., Ltd. *
    40,028       53,034  
GrainCorp Ltd.
    45,000       558,661  
                 
              611,695  
                 
 
Health Care Equipment & Services 0.3%
Primary Health Care Ltd.
    112,104       467,810  
Sigma Pharmaceuticals Ltd.
    187,875       132,300  
                 
              600,110  
                 
 
Materials 1.5%
Bathurst Resources Ltd. *(c)
    105,014       37,797  
Beadell Resources Ltd. *
    57,205       64,453  
CuDeco Ltd. *(c)
    17,775       81,036  
Discovery Metals Ltd. *
    56,250       97,120  
Evolution Mining Ltd. *
    60,000       116,427  
Gryphon Minerals Ltd. *
    56,052       36,840  
Independence Group NL
    37,170       177,214  
Integra Mining Ltd. *
    170,366       96,865  
Kingsgate Consolidated Ltd.
    28,018       142,057  
Medusa Mining Ltd.
    38,136       240,304  
Mineral Deposits Ltd. *
    6,225       22,340  
Mount Gibson Iron Ltd.
    120,000       80,748  
PanAust Ltd.
    94,575       338,422  
Perseus Mining Ltd. *
    99,855       243,766  
Regis Resources Ltd. *
    61,652       350,536  
Resolute Mining Ltd.
    112,125       216,987  
Sandfire Resources NL *
    17,796       152,610  
Silver Lake Resources Ltd. *(c)
    30,000       108,602  
St. Barbara Ltd. *
    64,091       109,321  
Sundance Resources Ltd. *
    573,375       233,288  
Western Areas NL (c)
    18,750       79,222  
                 
              3,025,955  
                 
 
Media 0.0%
Southern Cross Media Group Ltd.
    37,500       43,816  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Acrux Ltd.
    22,500       67,133  
Mesoblast Ltd. *(c)
    48,075       300,926  
Pharmaxis Ltd. *(c)
    52,500       68,463  
                 
              436,522  
                 
 
Real Estate 1.0%
Abacus Property Group
    82,093       175,569  
BWP Trust
    136,706       303,778  
Centro Retail Australia
    157,651       358,543  
Challenger Diversified Property Group
    30,026       78,312  
Charter Hall Group
    56,052       184,200  
 
 
 
 1

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Charter Hall Retail REIT
    77,207       288,355  
FKP Property Group (c)
    434,500       88,392  
Investa Office Fund
    143,058       432,811  
                 
              1,909,960  
                 
 
Retailing 0.7%
Automotive Holdings Group
    64,008       201,665  
David Jones Ltd. (c)
    83,775       217,622  
JB Hi-Fi Ltd. (c)
    12,998       134,652  
Myer Holdings Ltd. (c)
    96,096       217,547  
Pacific Brands Ltd.
    212,550       131,937  
Premier Investments Ltd.
    15,000       98,900  
Super Retail Group Ltd.
    18,750       174,288  
Wotif.com Holdings Ltd. (c)
    22,020       110,497  
                 
              1,287,108  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
Silex Systems Ltd. *
    18,225       59,892  
                 
 
Software & Services 0.2%
carsales.com Ltd. (c)
    18,676       149,635  
Iress Ltd.
    34,875       299,435  
                 
              449,070  
                 
 
Telecommunication Services 0.1%
TPG Telecom Ltd.
    73,358       177,551  
                 
 
Transportation 0.3%
Australian Infrastructure Fund
    75,000       246,468  
Qube Holdings Ltd.
    37,500       60,248  
Virgin Australia Holdings Ltd. *
    496,875       228,080  
Virgin Australia International Holdings Ltd. (a)(b)
    424,000       —  
                 
              534,796  
                 
 
Utilities 0.3%
DUET Group *
    112,500       252,336  
Energy World Corp. Ltd. *
    172,500       60,287  
Infigen Energy *(c)
    156,675       45,766  
Spark Infrastructure Group
    172,500       294,236  
                 
              652,625  
                 
              13,801,049  
 
Austria 0.7%
                 
 
Capital Goods 0.2%
Semperit AG Holding
    3,131       128,070  
Wienerberger AG
    20,850       169,213  
                 
              297,283  
                 
 
Energy 0.1%
Schoeller-Bleckmann Oilfield Equipment AG
    1,912       198,119  
                 
 
Materials 0.0%
Mayr Melnhof Karton AG
    790       83,575  
                 
 
Real Estate 0.3%
Atrium European Real Estate Ltd.
    32,285       185,259  
CA Immobilien Anlagen AG *
    15,000       205,040  
Conwert Immobilien Invest SE
    15,000       185,140  
S IMMO AG
    7,500       48,480  
                 
              623,919  
                 
 
Transportation 0.1%
Oesterreichische Post AG
    5,364       215,781  
                 
              1,418,677  
 
Belgium 1.1%
                 
 
Consumer Durables & Apparel 0.0%
Van de Velde N.V.
    975       44,383  
                 
 
Diversified Financials 0.4%
Ackermans & van Haaren N.V.
    4,322       350,650  
RHJ International *
    24,686       131,316  
Sofina S.A.
    3,034       259,845  
                 
              741,811  
                 
 
Materials 0.2%
Nyrstar *
    31,095       169,655  
Tessenderlo Chemie N.V.
    5,281       159,554  
                 
              329,209  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
ThromboGenics N.V. *
    3,000       144,406  
                 
 
Real Estate 0.2%
Befimmo S.C.A. Sicafi (c)
    2,721       169,869  
Cofinimmo
    1,950       220,647  
                 
              390,516  
                 
 
Retailing 0.1%
D’Ieteren S.A. N.V.
    5,250       250,320  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
Melexis N.V.
    3,750       59,356  
                 
 
Technology Hardware & Equipment 0.1%
Barco N.V.
    1,275       89,712  
EVS Broadcast Equipment S.A.
    3,164       179,007  
                 
              268,719  
                 
              2,228,720  
 
Canada 21.1%
                 
 
Automobiles & Components 0.1%
Linamar Corp.
    8,300       180,313  
                 
 
Banks 0.5%
Canadian Western Bank
    8,300       243,147  
Genworth MI Canada, Inc.
    8,300       172,543  
Home Capital Group, Inc.
    8,300       453,707  
Laurentian Bank of Canada
    1,600       72,498  
                 
              941,895  
                 
 
Capital Goods 0.7%
Aecon Group, Inc.
    8,300       88,736  
ATS Automation Tooling Systems, Inc. *
    16,600       142,045  
CAE, Inc.
    37,500       372,980  
Russel Metals, Inc.
    8,300       230,446  
Superior Plus Corp.
    15,000       151,004  
Toromont Industries Ltd.
    15,000       294,307  
Westport Innovations, Inc. *(c)
    7,500       200,836  
                 
              1,480,354  
                 
 
Commercial & Professional Services 0.5%
Progressive Waste Solutions Ltd.
    16,200       335,954  
Ritchie Bros. Auctioneers, Inc. (c)
    16,600       379,677  
Stantec, Inc.
    8,300       311,328  
 
 
 
2 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Transcontinental, Inc., Class A
    7,500       72,256  
                 
              1,099,215  
                 
 
Consumer Durables & Apparel 0.4%
Dorel Industries, Inc., Class B
    7,500       278,150  
Gildan Activewear, Inc.
    15,000       525,192  
                 
              803,342  
                 
 
Diversified Financials 0.7%
AGF Management Ltd., Class B
    8,300       73,780  
Canaccord Financial, Inc.
    8,300       42,864  
Dundee Corp., Class A *
    8,300       215,072  
GMP Capital, Inc.
    7,500       38,129  
Onex Corp.
    17,900       733,407  
TMX Group Ltd.
    4,000       198,520  
                 
              1,301,772  
                 
 
Energy 5.9%
Advantage Oil & Gas Ltd. *
    24,900       82,720  
AltaGas Ltd.
    15,000       521,568  
Athabasca Oil Corp. *
    62,800       703,011  
Bankers Petroleum Ltd. *
    39,500       104,581  
Baytex Energy Corp. (c)
    15,000       665,928  
Birchcliff Energy Ltd. *
    15,000       118,387  
BlackPearl Resources, Inc. *
    45,000       142,246  
Bonavista Energy Corp. (c)
    22,500       373,282  
Bonterra Energy Corp.
    1,100       48,746  
Calfrac Well Services Ltd.
    8,300       193,849  
Celtic Exploration Ltd. *
    17,700       465,597  
Crew Energy, Inc. *
    8,300       56,484  
Denison Mines Corp. *
    75,000       83,052  
Enerflex Ltd.
    8,300       92,580  
Enerplus Corp.
    22,500       300,800  
Ensign Energy Services, Inc.
    22,500       326,396  
Gibson Energy, Inc.
    11,000       253,143  
Keyera Corp.
    7,500       359,315  
Legacy Oil & Gas, Inc. *
    16,200       113,833  
Mullen Group Ltd.
    8,300       177,974  
Nuvista Energy Ltd. *
    16,600       92,078  
Paramount Resources Ltd., A Shares *
    8,300       288,267  
Pason Systems, Inc.
    8,300       139,287  
Pembina Pipeline Corp.
    37,560       1,063,636  
Pengrowth Energy Corp. (c)
    52,504       273,263  
PetroBakken Energy Ltd., A Shares (c)
    7,900       85,335  
Petrobank Energy & Resources Ltd. *
    10,700       132,599  
Petrominerales Ltd.
    15,000       115,216  
Peyto Exploration & Development Corp.
    15,000       375,698  
Precision Drilling Corp. *
    37,500       280,868  
Progress Energy Resources Corp.
    37,500       761,816  
Savanna Energy Services Corp.
    16,600       111,463  
ShawCor Ltd., Class A
    8,300       383,437  
SouthGobi Resources Ltd. *
    15,000       29,597  
Tourmaline Oil Corp. *
    22,500       747,924  
Trican Well Service Ltd.
    24,300       300,402  
Trilogy Energy Corp.
    9,100       262,369  
Trinidad Drilling Ltd.
    22,500       152,665  
Uranium One, Inc. *
    82,500       158,630  
Veresen, Inc.
    22,500       287,210  
Vermilion Energy, Inc.
    10,700       544,398  
                 
              11,769,650  
                 
 
Food & Staples Retailing 0.8%
Empire Co., Ltd., A Shares
    7,500       435,194  
Metro, Inc.
    15,000       923,542  
The Jean Coutu Group, Inc., A Shares
    16,600       242,478  
                 
              1,601,214  
                 
 
Food, Beverage & Tobacco 0.5%
Cott Corp. *
    16,600       142,379  
Maple Leaf Foods, Inc.
    16,600       183,822  
Viterra, Inc.
    49,200       770,182  
                 
              1,096,383  
                 
 
Health Care Equipment & Services 0.7%
Catamaran Corp. *
    24,700       1,212,435  
Extendicare, Inc. (c)
    16,600       123,829  
                 
              1,336,264  
                 
 
Insurance 0.1%
Industrial Alliance Insurance & Financial Services, Inc.
    8,300       242,228  
                 
 
Materials 4.8%
Alacer Gold Corp. *
    37,500       170,635  
Alamos Gold, Inc.
    17,200       323,793  
AuRico Gold, Inc. *
    41,327       326,589  
Aurizon Mines Ltd. *
    24,900       90,741  
B2Gold Corp. *(c)
    30,000       104,495  
Banro Corp. *
    15,000       49,982  
Canfor Corp. *
    16,600       246,489  
Capstone Mining Corp. *
    33,200       74,532  
CCL Industries, Inc., Class B
    8,300       304,143  
Centerra Gold, Inc.
    22,500       201,817  
CGA Mining Ltd. *
    37,500       94,000  
China Gold International Resources Corp. Ltd. *
    24,300       96,628  
Detour Gold Corp. *
    15,000       371,470  
Dundee Precious Metals, Inc. *
    16,200       136,828  
Endeavour Silver Corp. *
    7,500       65,234  
First Majestic Silver Corp. *
    15,000       345,649  
Franco-Nevada Corp.
    18,000       1,018,735  
Harry Winston Diamond Corp. *
    8,300       118,315  
HudBay Minerals, Inc.
    26,000       251,533  
Imperial Metals Corp. *
    16,200       205,813  
Inmet Mining Corp.
    9,000       613,832  
Katanga Mining Ltd. *
    75,000       48,321  
Kirkland Lake Gold, Inc. *
    7,900       68,713  
Lake Shore Gold Corp. *
    37,500       26,048  
Lundin Mining Corp. *
    67,500       345,875  
Major Drilling Group International, Inc.
    15,800       146,333  
Methanex Corp.
    16,600       502,336  
Nevsun Resources Ltd.
    22,500       91,282  
New Gold, Inc. *
    60,000       637,238  
NovaGold Resources, Inc. *
    37,500       167,237  
OceanaGold Corp. *(c)
    31,600       105,932  
Pan American Silver Corp.
    22,660       438,897  
Pretium Resources, Inc. *
    7,500       101,550  
Rubicon Minerals Corp. *
    37,500       111,366  
Seabridge Gold, Inc. *
    7,500       114,084  
SEMAFO, Inc.
    39,900       139,380  
Sherritt International Corp.
    34,500       176,781  
Silver Standard Resources, Inc. *
    8,300       112,215  
Silvercorp Metals, Inc.
    24,300       134,055  
Sino-Forest Corp. *(a)(b)
    17,700       —  
Tahoe Resources, Inc. *
    15,000       267,126  
 
 
 
 3

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Taseko Mines Ltd. *
    24,900       69,685  
West Fraser Timber Co., Ltd.
    7,500       526,023  
                 
              9,541,730  
                 
 
Media 1.0%
Aimia, Inc.
    30,000       445,462  
Astral Media, Inc., A Shares
    8,300       382,267  
Cineplex, Inc.
    7,500       235,944  
Cogeco Cable, Inc.
    7,500       283,812  
Corus Entertainment, Inc.
    7,500       172,598  
Imax Corp. *
    7,900       171,464  
Quebecor, Inc., Class B
    7,900       301,017  
Torstar Corp.
    7,900       54,875  
                 
              2,047,439  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Nordion, Inc.
    16,600       110,293  
                 
 
Real Estate 2.3%
Allied Properties Real Estate Investment Trust
    8,300       261,529  
Artis Real Estate Investment Trust
    15,000       236,321  
Boardwalk Real Estate Investment Trust
    8,300       538,600  
Calloway Real Estate Investment Trust
    15,000       427,342  
Canadian Apartment Properties Real Estate Investment Trust
    8,300       200,032  
Canadian Real Estate Investment Trust
    8,300       347,341  
Chartwell Seniors Housing Real Estate Investment Trust
    30,000       311,371  
Cominar Real Estate Investment Trust
    15,000       331,454  
Dundee Real Estate Investment Trust
    10,700       389,933  
First Capital Realty, Inc.
    16,600       308,320  
FirstService Corp. *
    2,500       72,029  
H&R Real Estate Investment Trust
    24,300       568,757  
InnVest Real Estate Investment Trust
    22,500       98,077  
Morguard Real Estate Investment Trust
    8,300       151,069  
Primaris Retail Real Estate Investment Trust
    10,900       251,720  
                 
              4,493,895  
                 
 
Retailing 0.4%
Dollarama, Inc.
    8,100       517,386  
Reitmans (Canada) Ltd., Class A
    7,900       93,844  
RONA, Inc.
    15,000       160,668  
                 
              771,898  
                 
 
Software & Services 0.4%
MacDonald, Dettwiler & Associates Ltd.
    7,500       396,160  
Open Text Corp. *
    7,500       430,890  
                 
              827,050  
                 
 
Technology Hardware & Equipment 0.1%
Celestica, Inc. *
    17,200       127,266  
                 
 
Telecommunication Services 0.1%
Manitoba Telecom Services, Inc.
    7,500       253,234  
                 
 
Transportation 0.1%
TransForce, Inc.
    8,300       151,988  
                 
 
Utilities 0.9%
ATCO Ltd., Class I
    7,500       574,949  
Atlantic Power Corp.
    15,000       176,222  
Capital Power Corp.
    7,500       164,821  
Emera, Inc.
    16,200       556,444  
Innergex Renewable Energy, Inc.
    7,500       79,655  
Just Energy Group, Inc. (c)
    7,500       66,215  
Northland Power, Inc.
    7,500       141,793  
                 
              1,760,099  
                 
              41,937,522  
 
China 0.0%
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Sihuan Pharmaceutical Holdings Group Ltd. (c)
    150,000       61,742  
 
Denmark 1.0%
                 
 
Banks 0.2%
Jyske Bank A/S *
    9,903       283,150  
Sydbank A/S *
    12,862       231,192  
                 
              514,342  
                 
 
Capital Goods 0.1%
NKT Holding A/S
    3,429       114,065  
                 
 
Consumer Durables & Apparel 0.1%
Bang & Olufsen A/S *
    3,750       42,496  
Pandora A/S (c)
    5,925       127,367  
                 
              169,863  
                 
 
Health Care Equipment & Services 0.2%
GN Store Nord A/S
    28,125       397,422  
                 
 
Insurance 0.2%
Topdanmark A/S *
    1,875       391,292  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Alk-Abello A/S
    2,004       131,019  
Genmab A/S *
    4,500       59,822  
                 
              190,841  
                 
 
Software & Services 0.1%
SimCorp A/S
    790       175,608  
                 
              1,953,433  
 
Finland 2.0%
                 
 
Capital Goods 0.6%
Cargotec Oyj, B Shares
    6,225       156,743  
Cramo Oyj
    3,825       39,400  
Konecranes Oyj (c)
    7,071       229,178  
Outotec Oyj
    6,000       316,514  
Ramirent Oyj
    14,852       106,820  
Uponor Oyj
    7,500       94,424  
YIT Oyj
    16,437       305,064  
                 
              1,248,143  
                 
 
Commercial & Professional Services 0.1%
Lassila & Tikanoja Oyj *
    7,502       112,304  
                 
 
Consumer Durables & Apparel 0.1%
Amer Sports Oyj
    17,949       269,862  
                 
 
Diversified Financials 0.2%
Pohjola Bank plc, A Shares
    24,338       339,964  
 
 
 
4 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Materials 0.4%
Huhtamaki Oyj
    17,336       281,840  
Kemira Oyj
    15,000       217,135  
Metsa Board Oyj *
    46,012       131,057  
Tikkurila Oyj
    7,500       139,294  
                 
              769,326  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Orion Oyj, Class B
    9,432       252,583  
                 
 
Real Estate 0.2%
Citycon Oyj
    41,342       139,263  
Sponda Oyj
    42,652       196,930  
                 
              336,193  
                 
 
Retailing 0.0%
Stockmann Oyj Abp, B Shares
    3,750       68,281  
                 
 
Software & Services 0.1%
Tieto Oyj
    12,269       235,526  
                 
 
Telecommunication Services 0.2%
Elisa Oyj
    18,150       385,484  
                 
 
Transportation 0.0%
Finnair Oyj *
    15,000       43,310  
                 
              4,060,976  
 
France 3.0%
                 
 
Capital Goods 0.2%
Mersen
    2,625       67,462  
Nexans S.A.
    4,587       213,518  
Saft Groupe S.A.
    3,858       88,713  
                 
              369,693  
                 
 
Commercial & Professional Services 0.2%
Teleperformance
    9,785       340,558  
                 
 
Consumer Durables & Apparel 0.1%
Beneteau
    7,585       78,822  
Nexity
    4,753       148,949  
                 
              227,771  
                 
 
Energy 0.3%
Bourbon S.A.
    8,775       254,277  
Etablissements Maurel et Prom
    15,467       251,354  
Maurel & Prom Nigeria *
    18,844       49,752  
                 
              555,383  
                 
 
Food & Staples Retailing 0.1%
Rallye S.A.
    4,504       134,702  
                 
 
Food, Beverage & Tobacco 0.2%
Remy Cointreau S.A.
    3,609       404,330  
                 
 
Health Care Equipment & Services 0.2%
Medica S.A.
    10,597       197,502  
Orpea
    5,250       225,295  
                 
              422,797  
                 
 
Materials 0.1%
S.A. des Ciments Vicat
    3,000       162,471  
                 
 
Media 0.5%
Havas S.A.
    78,603       416,285  
Ipsos
    4,919       169,602  
Metropole Television S.A.
    13,858       203,127  
Societe d’Edition de Canal +
    20,265       125,247  
Technicolor S.A. *
    18,750       46,504  
                 
              960,765  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Virbac S.A.
    1,106       204,118  
                 
 
Real Estate 0.1%
Mercialys
    4,630       98,456  
Societe Immobiliere de Location pour l’Industrie et le Commerce
    1,912       214,507  
                 
              312,963  
                 
 
Retailing 0.2%
CFAO *
    7,350       356,566  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
Silicon-On-Insulator Technologies *(c)
    22,500       68,184  
                 
 
Software & Services 0.3%
Alten
    5,814       192,105  
Altran Technologies S.A. *
    26,789       178,982  
Groupe Steria SCA
    4,836       75,885  
UbiSoft Entertainment S.A. *
    20,279       203,403  
                 
              650,375  
                 
 
Technology Hardware & Equipment 0.2%
Ingenico
    4,875       259,514  
Neopost S.A.
    4,211       220,031  
                 
              479,545  
                 
 
Utilities 0.2%
Rubis
    5,278       329,087  
                 
              5,979,308  
 
Germany 4.1%
                 
 
Automobiles & Components 0.2%
ElringKlinger AG
    7,500       240,449  
Leoni AG
    7,500       260,201  
                 
              500,650  
                 
 
Banks 0.1%
Aareal Bank AG *
    5,625       122,285  
                 
 
Capital Goods 1.1%
BayWa AG
    2,250       99,013  
Deutz AG *
    23,668       96,657  
Gildemeister AG
    11,125       214,144  
Krones AG
    3,192       182,397  
KUKA AG *
    5,382       182,836  
MTU Aero Engines Holding AG
    5,530       491,883  
Pfeiffer Vacuum Technology AG
    1,838       208,810  
Rational AG
    711       191,002  
Rheinmetall AG
    2,004       92,775  
SGL Carbon SE (c)
    5,625       226,060  
Vossloh AG
    1,350       129,649  
                 
              2,115,226  
                 
 
Consumer Durables & Apparel 0.1%
Gerry Weber International AG
    4,088       193,454  
                 
 
Health Care Equipment & Services 0.1%
Rhoen Klinikum AG
    6,225       127,556  
                 
 
Materials 0.7%
Aurubis AG
    7,206       457,922  
Fuchs Petrolub AG
    6,953       443,743  
 
 
 
 5

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Symrise AG
    15,184       528,761  
                 
              1,430,426  
                 
 
Media 0.2%
Sky Deutschland AG *
    75,825       376,523  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
MorphoSys AG *
    6,690       234,318  
Stada Arzneimittel AG
    10,227       303,800  
                 
              538,118  
                 
 
Real Estate 0.5%
Alstria Office REIT-AG
    10,083       123,835  
Deutsche Euroshop AG
    7,071       289,599  
Deutsche Wohnen AG
    15,913       307,756  
DIC Asset AG
    7,500       68,916  
GAGFAH S.A. *
    14,852       167,088  
IVG Immobilien AG *
    22,500       54,869  
                 
              1,012,063  
                 
 
Retailing 0.1%
Douglas Holding AG
    5,307       261,320  
                 
 
Semiconductors & Semiconductor Equipment 0.2%
Aixtron SE (c)
    14,940       186,829  
Dialog Semiconductor plc *
    10,102       205,554  
                 
              392,383  
                 
 
Software & Services 0.2%
Bechtle AG
    1,125       41,774  
Wirecard AG
    13,609       334,350  
                 
              376,124  
                 
 
Technology Hardware & Equipment 0.1%
Wincor Nixdorf AG
    4,782       201,480  
                 
 
Telecommunication Services 0.2%
Freenet AG
    23,037       429,055  
                 
              8,076,663  
 
Greece 0.3%
                 
 
Banks 0.1%
Bank of Cyprus plc *
    243,519       82,347  
Piraeus Bank S.A. *
    138,078       62,675  
                 
              145,022  
                 
 
Capital Goods 0.0%
Ellaktor S.A. *
    16,000       36,001  
Metka S.A.
    3,200       32,879  
                 
              68,880  
                 
 
Consumer Services 0.0%
Intralot S.A. Integrated Lottery Systems & Services
    19,200       38,456  
                 
 
Energy 0.1%
Motor Oil (Hellas) Corinth Refineries S.A.
    11,800       116,791  
                 
 
Materials 0.1%
Titan Cement Co. S.A. *
    8,550       133,553  
                 
 
Retailing 0.0%
JUMBO S.A. *
    15,000       99,301  
                 
              602,003  
 
Hong Kong 4.3%
                 
 
Automobiles & Components 0.1%
Minth Group Ltd.
    166,000       179,493  
                 
 
Capital Goods 0.2%
China Liansu Group Holdings Ltd. (c)
    75,000       44,516  
China Singyes Solar Technologies Holdings Ltd.
    145,800       100,272  
Haitian International Holdings Ltd. (c)
    79,000       95,717  
Lonking Holdings Ltd. (c)
    150,000       34,258  
Singamas Container Holdings Ltd.
    300,000       72,773  
                 
              347,536  
                 
 
Consumer Durables & Apparel 0.5%
Daphne International Holdings Ltd. (c)
    167,000       219,792  
Haier Electronics Group Co., Ltd. *
    79,000       108,459  
Samsonite International S.A.
    90,000       193,005  
Skyworth Digital Holdings Ltd.
    372,000       198,239  
Stella International Holdings Ltd.
    83,000       213,764  
Trinity Ltd.
    184,000       127,018  
YGM Trading Ltd.
    16,000       38,193  
                 
              1,098,470  
                 
 
Consumer Services 0.1%
Ajisen China Holdings Ltd. (c)
    87,000       76,335  
Regal Hotels International Holdings Ltd.
    64,000       28,903  
                 
              105,238  
                 
 
Diversified Financials 0.0%
Value Partners Group Ltd. (c)
    150,000       82,645  
                 
 
Energy 0.1%
Sino Oil & Gas Holdings Ltd. *(c)
    4,875,000       116,999  
United Energy Group Ltd. *(c)
    600,000       106,838  
                 
              223,837  
                 
 
Food, Beverage & Tobacco 0.2%
C.P. Pokphand Co., Ltd. (c)
    1,452,000       176,112  
Global Bio-Chem Technology Group Co., Ltd. (c)
    300,000       34,839  
Pacific Andes Resources Development Ltd.
    300,000       32,939  
Uni-President China Holdings Ltd.
    150,000       196,644  
                 
              440,534  
                 
 
Household & Personal Products 0.1%
Vinda International Holdings Ltd. (c)
    75,000       104,516  
                 
 
Materials 0.6%
China Lumena New Materials Corp. (c)
    300,000       60,387  
China Precious Metal Resources Holdings Co., Ltd. *(c)
    300,000       57,290  
China Shanshui Cement Group Ltd.
    332,000       226,615  
China Vanadium Titano - Magnetite Mining Co., Ltd. (c)
    225,000       49,355  
Dongyue Group (c)
    225,000       125,419  
Fufeng Group Ltd.
    166,000       62,544  
G-Resources Group Ltd. *
    4,773,000       224,791  
North Mining Shares Co., Ltd. *
    1,500,000       94,838  
West China Cement Ltd. (c)
    750,000       133,548  
Yingde Gases (c)
    112,500       111,628  
                 
              1,146,415  
 
 
 
6 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Media 0.1%
Phoenix Satellite Television Holdings Ltd.
    150,000       46,838  
VODone Ltd.
    813,999       75,623  
                 
              122,461  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
China Medical System Holdings Ltd. (c)
    332,600       226,596  
China Shineway Pharmaceutical Group Ltd. (c)
    75,000       112,838  
Sino Biopharmaceutical Ltd.
    600,000       288,772  
                 
              628,206  
                 
 
Real Estate 0.3%
C C Land Holdings Ltd.
    300,000       103,741  
Glorious Property Holdings Ltd. *(c)
    450,000       76,064  
K Wah International Holdings Ltd.
    150,000       74,129  
Kaisa Group Holdings Ltd. *
    300,000       83,612  
Lai Sun Development Co., Ltd. *
    2,850,000       91,567  
Yuexiu Real Estate Investment Trust
    300,000       143,999  
                 
              573,112  
                 
 
Retailing 0.7%
China ZhengTong Auto Services Holdings Ltd. *(c)
    112,500       73,306  
Chow Sang Sang Holdings International Ltd. (c)
    26,000       63,339  
Emperor Watch & Jewellery Ltd. (c)
    940,000       112,799  
Giordano International Ltd. (c)
    150,000       137,419  
Hengdeli Holdings Ltd. (c)
    332,000       118,234  
Intime Department Store Group Co., Ltd.
    112,500       128,612  
Luk Fook Holdings International Ltd. (c)
    91,000       272,998  
New World Department Store China Ltd. (c)
    150,000       90,774  
PCD Stores Group Ltd.
    600,000       67,354  
SA SA International Holdings Ltd. (c)
    300,000       245,418  
Silver Base Group Holdings Ltd. (c)
    229,800       72,053  
                 
              1,382,306  
                 
 
Semiconductors & Semiconductor Equipment 0.1%
Apollo Solar Energy Technology Holdings Ltd. *
    3,000,000       104,515  
                 
 
Software & Services 0.1%
Chinasoft International Ltd. *
    200,000       51,354  
Kingdee International Software Group Co., Ltd. *(c)
    300,000       62,709  
Kingsoft Corp., Ltd.
    150,000       92,903  
                 
              206,966  
                 
 
Technology Hardware & Equipment 0.3%
Anxin-China Holdings Ltd.
    600,000       122,322  
China Wireless Technologies Ltd.
    600,000       179,612  
Digital China Holdings Ltd.
    150,000       250,837  
Ju Teng International Holdings Ltd.
    150,000       60,967  
Tech Pro Technology Development Ltd. *
    150,000       55,355  
                 
              669,093  
                 
 
Telecommunication Services 0.1%
SmarTone Telecommunications Holding Ltd.
    75,000       139,741  
                 
 
Transportation 0.1%
Pacific Basin Shipping Ltd.
    498,000       263,456  
                 
 
Utilities 0.3%
China Gas Holdings Ltd.
    648,000       468,229  
China Water Affairs Group Ltd. (c)
    300,000       76,645  
Towngas China Co., Ltd.
    158,000       132,107  
                 
              676,981  
                 
              8,495,521  
 
Ireland 1.3%
                 
 
Banks 0.3%
The Governor & Co. of the Bank of Ireland *
    3,825,000       557,177  
                 
 
Capital Goods 0.4%
DCC plc
    11,265       339,909  
Grafton Group plc
    49,875       241,307  
Kingspan Group plc
    25,500       269,966  
                 
              851,182  
                 
 
Consumer Services 0.1%
Paddy Power plc
    3,000       226,343  
                 
 
Food, Beverage & Tobacco 0.2%
C&C Group plc
    60,000       319,557  
Glanbia plc
    11,250       115,591  
                 
              435,148  
                 
 
Health Care Equipment & Services 0.1%
United Drug plc
    49,044       203,575  
                 
 
Materials 0.2%
Smurfit Kappa Group plc
    29,792       349,115  
                 
              2,622,540  
 
Israel 0.2%
                 
 
Health Care Equipment & Services 0.0%
Given Imaging Ltd. *
    4,500       83,704  
                 
 
Semiconductors & Semiconductor Equipment 0.1%
Nova Measuring Instruments Ltd. *
    7,500       59,471  
Tower Semiconductor Ltd. *
    4,992       42,898  
                 
              102,369  
                 
 
Software & Services 0.1%
Allot Communications Ltd. *
    3,750       82,211  
Retalix Ltd. *
    3,750       110,598  
                 
              192,809  
                 
 
Technology Hardware & Equipment 0.0%
Ceragon Networks Ltd. *
    7,500       39,516  
                 
              418,398  
 
Italy 2.0%
                 
 
Automobiles & Components 0.0%
Piaggio & C S.p.A.
    26,250       65,004  
                 
 
Banks 0.4%
Banca Piccolo Credito Valtellinese Scarl
    33,750       49,031  
Banca Popolare dell’Emilia Romagna Scrl
    40,480       250,501  
Banca Popolare di Milano Scarl *
    521,250       275,311  
 
 
 
 7

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Banca Popolare di Sondrio Scrl
    39,375       223,280  
Credito Emiliano S.p.A.
    17,154       83,218  
                 
              881,341  
                 
 
Capital Goods 0.3%
C.I.R. S.p.A - Compagnie Industriali Riunite
    80,117       87,320  
Danieli & C Officine Meccaniche S.p.A.
    11,208       180,756  
Impregilo S.p.A.
    60,000       247,530  
                 
              515,606  
                 
 
Consumer Durables & Apparel 0.2%
De’Longhi S.p.A.
    3,750       49,504  
Tod’s S.p.A.
    2,307       281,295  
                 
              330,799  
                 
 
Diversified Financials 0.3%
Azimut Holding S.p.A.
    26,524       346,006  
Banca Generali S.p.A.
    11,125       180,141  
                 
              526,147  
                 
 
Energy 0.1%
ERG S.p.A.
    17,936       125,502  
                 
 
Health Care Equipment & Services 0.2%
DiaSorin S.p.A.
    5,250       194,056  
Sorin S.p.A. *
    106,275       227,789  
                 
              421,845  
                 
 
Insurance 0.1%
Fondiaria-Sai S.p.A. *
    92,499       114,349  
Societa Cattolica di Assicurazioni Scrl *
    10,391       157,715  
                 
              272,064  
                 
 
Media 0.0%
Arnoldo Mondadori Editore S.p.A. *
    15,000       21,928  
Gruppo Editoriale L’Espresso S.p.A.
    37,500       39,115  
RCS MediaGroup S.p.A. *(c)
    22,500       37,194  
                 
              98,237  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Recordati S.p.A. (c)
    17,668       147,870  
                 
 
Real Estate 0.0%
Beni Stabili S.p.A.
    120,116       68,738  
                 
 
Retailing 0.0%
Yoox S.p.A. *(c)
    4,501       69,604  
                 
 
Transportation 0.1%
Ansaldo STS S.p.A.
    27,124       240,416  
                 
 
Utilities 0.2%
ACEA S.p.A.
    14,935       78,203  
Hera S.p.A.
    104,372       163,982  
IREN S.p.A.
    108,876       61,555  
                 
              303,740  
                 
              4,066,913  
 
Japan 13.3%
                 
 
Automobiles & Components 0.8%
Akebono Brake Industry Co., Ltd. (c)
    15,000       66,206  
Daido Metal Co., Ltd.
    7,000       53,304  
Keihin Corp.
    7,500       99,673  
Musashi Seimitsu Industry Co., Ltd.
    7,500       156,057  
Nifco, Inc.
    7,500       169,152  
Nissin Kogyo Co., Ltd. (c)
    15,000       223,718  
Press Kogyo Co., Ltd.
    32,000       136,195  
Showa Corp.
    7,500       75,118  
Toyo Tire & Rubber Co., Ltd.
    20,000       55,535  
TPR Co., Ltd.
    7,500       93,943  
TS Tech Co., Ltd.
    15,000       266,097  
Unipres Corp.
    7,500       179,247  
                 
              1,574,245  
                 
 
Banks 0.6%
FIDEA Holdings Co., Ltd.
    27,200       56,069  
Kiyo Holdings, Inc.
    150,000       207,348  
The Bank of Okinawa Ltd.
    3,200       121,256  
The Fukui Bank Ltd.
    83,000       161,028  
The Miyazaki Bank Ltd.
    31,000       77,810  
The Oita Bank Ltd.
    79,000       275,882  
The Toho Bank Ltd.
    23,000       73,906  
The Tokyo Tomin Bank Ltd.
    7,500       63,296  
The Tsukuba Bank Ltd.
    20,400       67,035  
The Yachiyo Bank Ltd.
    2,200       43,216  
TOMONY Holdings, Inc.
    15,000       63,842  
                 
              1,210,688  
                 
 
Capital Goods 3.2%
Aica Kogyo Co., Ltd.
    15,000       257,548  
Aida Engineering Ltd.
    7,500       53,565  
Asahi Diamond Industrial Co., Ltd.
    7,900       72,898  
Central Glass Co., Ltd.
    75,000       220,989  
Daifuku Co., Ltd.
    41,500       258,148  
Denyo Co., Ltd.
    7,500       82,848  
Futaba Corp.
    16,600       178,741  
Hanwa Co., Ltd.
    83,000       273,748  
Hitachi Zosen Corp.
    197,500       253,850  
Inaba Denki Sangyo Co., Ltd.
    8,300       235,403  
Iseki & Co., Ltd.
    79,000       196,374  
Iwatani Corp.
    75,000       280,102  
Kitz Corp.
    7,500       34,649  
Kyowa Exeo Corp.
    24,900       251,506  
Maeda Corp.
    32,000       143,179  
Meidensha Corp.
    83,000       263,684  
Mirait Holdings Corp.
    15,000       117,497  
Miura Co., Ltd.
    7,900       194,075  
Nachi-Fujikoshi Corp.
    26,000       89,536  
Nichias Corp.
    19,000       90,772  
Nippo Corp.
    8,000       91,961  
Nitto Boseki Co., Ltd.
    75,000       254,638  
Noritz Corp.
    15,000       258,276  
Oiles Corp. (c)
    7,500       148,690  
Okumura Corp.
    83,000       275,761  
OSG Corp.
    24,900       337,254  
Penta-Ocean Construction Co., Ltd. (c)
    37,500       94,125  
Sanwa Holdings Corp.
    75,000       302,837  
SHO-BOND Holdings Co., Ltd.
    8,300       250,500  
Sintokogio Ltd.
    21,000       142,852  
Taikisha Ltd.
    7,500       145,417  
Takasago Thermal Engineering Co., Ltd.
    15,000       110,768  
TOKAI Holdings Corp. (c)
    7,500       28,647  
Toyo Construction Co., Ltd.
    15,000       46,017  
Toyo Tanso Co., Ltd.
    7,500       142,325  
 
 
 
8 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Tsubakimoto Chain Co.
    24,000       129,793  
                 
              6,308,973  
                 
 
Commercial & Professional Services 0.4%
Daiseki Co., Ltd.
    8,300       110,707  
Duskin Co., Ltd.
    16,600       312,797  
Meitec Corp.
    8,600       190,416  
Mitsubishi Pencil Co., Ltd.
    7,500       130,411  
                 
              744,331  
                 
 
Consumer Durables & Apparel 0.6%
JVC Kenwood Corp.
    22,500       79,120  
Mizuno Corp.
    39,000       183,485  
Pioneer Corp. *
    76,300       178,561  
Sangetsu Co., Ltd.
    8,300       214,268  
Seiko Holdings Corp. *
    18,000       41,251  
Tamron Co., Ltd.
    7,500       223,172  
Token Corp.
    750       34,149  
Tomy Co., Ltd.
    33,200       181,559  
                 
              1,135,565  
                 
 
Consumer Services 0.6%
Accordia Golf Co., Ltd. (c)
    450       418,516  
Colowide Co., Ltd. (c)
    8,000       68,582  
Doutor Nichires Holdings Co., Ltd.
    22,500       284,831  
HIS Co., Ltd.
    1,600       49,279  
Saizeriya Co., Ltd.
    17,700       248,319  
Zensho Holdings Co., Ltd. (c)
    7,500       89,123  
                 
              1,158,650  
                 
 
Diversified Financials 0.5%
Aiful Corp. *(c)
    65,700       282,015  
Fuyo General Lease Co., Ltd.
    7,500       210,713  
IBJ Leasing Co., Ltd. (c)
    7,500       190,251  
Jaccs Co., Ltd.
    14,000       54,153  
Japan Securities Finance Co., Ltd.
    15,000       70,935  
kabu.com Securities Co., Ltd.
    15,000       50,564  
Orient Corp. *
    75,000       151,873  
                 
              1,010,504  
                 
 
Energy 0.1%
Itochu Enex Co., Ltd.
    7,500       37,741  
Modec, Inc.
    3,200       63,092  
Shinko Plantech Co., Ltd.
    7,500       59,476  
                 
              160,309  
                 
 
Food & Staples Retailing 0.4%
Ain Pharmaciez, Inc.
    1,400       79,617  
Arcs Co., Ltd.
    7,500       154,784  
Cocokara fine, Inc.
    7,500       234,449  
Izumiya Co., Ltd.
    10,000       49,351  
Ministop Co., Ltd.
    2,600       44,326  
Okuwa Co., Ltd.
    4,000       52,625  
Valor Co., Ltd.
    7,500       116,042  
                 
              731,194  
                 
 
Food, Beverage & Tobacco 0.8%
Calbee, Inc. (c)
    500       40,803  
Fuji Oil Co., Ltd.
    22,500       322,481  
Fujiya Co., Ltd. *(c)
    75,000       178,246  
Hokuto Corp.
    7,500       149,782  
Megmilk Snow Brand Co., Ltd.
    7,500       122,408  
Morinaga Milk Industry Co., Ltd.
    83,000       268,716  
Nippon Suisan Kaisha Ltd.
    22,500       39,832  
The Nisshin Oillio Group Ltd.
    75,000       269,189  
Yonekyu Corp.
    22,500       190,433  
                 
              1,581,890  
                 
 
Health Care Equipment & Services 0.5%
Nagaileben Co., Ltd.
    7,500       104,129  
Nihon Kohden Corp.
    7,500       245,998  
Nikkiso Co., Ltd.
    5,000       52,868  
Ship Healthcare Holdings, Inc.
    7,500       233,357  
Toho Holdings Co., Ltd.
    15,000       286,650  
                 
              923,002  
                 
 
Household & Personal Products 0.3%
Aderans Co., Ltd. *
    9,200       128,401  
Dr Ci:Labo Co., Ltd.
    20       68,049  
Fancl Corp.
    15,800       165,338  
Mandom Corp.
    8,300       221,313  
                 
              583,101  
                 
 
Materials 1.4%
Adeka Corp.
    24,900       198,971  
Asahi Holdings, Inc.
    7,500       126,864  
Daio Paper Corp.
    10,000       63,174  
Earth Chemical Co., Ltd.
    7,500       271,644  
FP Corp.
    1,900       131,781  
Hokuetsu Kishu Paper Co., Ltd.
    13,500       72,517  
Kureha Corp.
    32,000       110,198  
Kyoei Steel Ltd.
    7,500       122,408  
Nippon Light Metal Holdings Co., Ltd. *
    168,200       150,925  
Nippon Soda Co., Ltd.
    13,000       56,906  
NOF Corp.
    32,000       145,119  
Okabe Co., Ltd.
    7,500       47,927  
Sanyo Special Steel Co., Ltd.
    30,000       87,668  
Sumitomo Light Metal Industries Ltd.
    75,000       61,841  
Toagosei Co., Ltd.
    83,000       355,269  
Tokyo Ohka Kogyo Co., Ltd.
    7,500       151,055  
Toyo Ink SC Holdings Co., Ltd.
    83,000       344,198  
Yodogawa Steel Works Ltd.
    75,000       242,816  
                 
              2,741,281  
                 
 
Media 0.3%
Avex Group Holdings, Inc.
    7,500       161,422  
Kadokawa Group Holdings, Inc. (c)
    7,500       222,172  
Shochiku Co., Ltd. (c)
    20,000       200,073  
                 
              583,667  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Kaken Pharmaceutical Co., Ltd.
    3,000       46,962  
KYORIN Holdings, Inc.
    8,100       172,274  
Nichi-iko Pharmaceutical Co., Ltd.
    8,300       164,047  
Seikagaku Corp.
    17,000       183,667  
                 
              566,950  
                 
 
Real Estate 0.3%
Daibiru Corp.
    7,500       60,658  
Daikyo, Inc.
    25,000       60,022  
Goldcrest Co., Ltd. (c)
    2,250       32,030  
Heiwa Real Estate Co., Ltd.
    7,500       88,396  
Kenedix, Inc. *
    387       65,744  
Leopalace21 Corp. *(c)
    45,000       141,324  
TOC Co., Ltd.
    15,000       80,029  
                 
              528,203  
                 
 
Retailing 0.6%
AOKI Holdings, Inc.
    2,600       60,027  
 
 
 
 9

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Arc Land Sakamoto Co., Ltd.
    7,500       111,859  
Bic Camera, Inc. (c)
    75       36,922  
DCM Holdings Co., Ltd.
    15,000       96,581  
EDION Corp.
    15,000       58,567  
Geo Holdings Corp.
    75       79,938  
Gulliver International Co., Ltd.
    1,050       39,723  
Honeys Co., Ltd. (c)
    1,500       23,227  
Joshin Denki Co., Ltd. (c)
    10,000       103,068  
Megane TOP Co., Ltd.
    7,500       91,397  
Nissen Holdings Co., Ltd.
    8,600       33,265  
Parco Co., Ltd.
    7,500       75,391  
The Daiei, Inc. *(c)
    20,200       39,435  
Tsutsumi Jewelry Co., Ltd.
    7,500       179,520  
Xebio Co., Ltd.
    7,500       134,867  
Yellow Hat Ltd.
    7,500       111,222  
                 
              1,275,009  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
Sanken Electric Co., Ltd.
    18,000       69,407  
                 
 
Software & Services 0.4%
Fuji Soft, Inc.
    7,500       151,237  
GMO internet, Inc.
    12,100       73,653  
Ines Corp.
    8,900       54,391  
IT Holdings Corp.
    7,500       91,761  
Net One Systems Co., Ltd. (c)
    15,000       145,507  
Nihon Unisys Ltd.
    15,000       107,494  
SCSK Corp.
    7,500       128,138  
Transcosmos, Inc.
    7,500       77,937  
                 
              830,118  
                 
 
Technology Hardware & Equipment 0.8%
Amano Corp.
    7,900       70,312  
Anritsu Corp.
    12,000       154,092  
Canon Electronics, Inc.
    7,500       161,150  
Daiwabo Holdings Co., Ltd.
    75,000       153,692  
Horiba Ltd.
    8,300       236,510  
Hosiden Corp.
    30,000       177,883  
Nichicon Corp.
    26,500       192,797  
Nippon Chemi-Con Corp. *
    12,000       20,662  
Oki Electric Industry Co., Ltd. *(c)
    75,000       71,844  
Riso Kagaku Corp.
    2,600       49,056  
Ryosan Co., Ltd.
    8,300       134,559  
Star Micronics Co., Ltd.
    7,500       72,936  
Wacom Co., Ltd.
    75       213,714  
                 
              1,709,207  
                 
 
Telecommunication Services 0.1%
eAccess Ltd. (c)
    375       276,464  
                 
 
Transportation 0.3%
Iino Kaiun Kaisha Ltd.
    15,000       46,562  
Japan Airport Terminal Co., Ltd.
    9,200       103,635  
Nippon Konpo Unyu Soko Co., Ltd.
    7,500       92,125  
Sankyu, Inc.
    75,000       305,566  
The Sumitomo Warehouse Co., Ltd.
    32,000       138,911  
                 
              686,799  
                 
 
Utilities 0.0%
The Okinawa Electric Power Co., Inc.
    1,100       32,759  
                 
              26,422,316  
 
Netherlands 1.7%
                 
 
Capital Goods 0.4%
Aalberts Industries N.V.
    11,250       212,746  
Arcadis N.V.
    8,279       192,203  
Koninklijke BAM Groep N.V.
    33,346       128,982  
Royal Imtech N.V.
    11,326       253,366  
                 
              787,297  
                 
 
Consumer Durables & Apparel 0.0%
TomTom N.V. *(c)
    9,000       43,345  
                 
 
Diversified Financials 0.0%
BinckBank N.V.
    12,915       95,324  
                 
 
Food & Staples Retailing 0.1%
Sligro Food Group N.V.
    5,447       136,693  
                 
 
Food, Beverage & Tobacco 0.3%
CSM N.V.
    11,125       219,859  
Nutreco N.V.
    5,447       444,119  
                 
              663,978  
                 
 
Health Care Equipment & Services 0.1%
Mediq N.V.
    8,250       138,899  
                 
 
Insurance 0.1%
Delta Lloyd N.V.
    13,398       199,957  
                 
 
Materials 0.1%
Koninklijke Ten Cate N.V.
    5,042       118,267  
                 
 
Real Estate 0.3%
Eurocommercial Properties N.V.
    6,753       263,313  
Nieuwe Steen Investments N.V.
    8,925       71,400  
VastNed Retail N.V.
    3,526       153,123  
Wereldhave N.V.
    2,876       176,553  
                 
              664,389  
                 
 
Semiconductors & Semiconductor Equipment 0.1%
ASM International N.V.
    7,800       273,399  
                 
 
Software & Services 0.1%
Unit 4 N.V.
    5,594       153,223  
                 
 
Technology Hardware & Equipment 0.1%
TKH Group N.V.
    7,848       173,521  
                 
              3,448,292  
 
New Zealand 0.3%
                 
 
Insurance 0.0%
TOWER Ltd.
    33,750       53,455  
                 
 
Real Estate 0.1%
Goodman Property Trust
    181,443       151,879  
Precinct Properties New Zealand Ltd.
    75,000       61,549  
                 
              213,428  
                 
 
Transportation 0.1%
Freightways Ltd.
    22,500       80,321  
Mainfreight Ltd. (c)
    7,500       68,935  
                 
              149,256  
                 
 
Utilities 0.1%
Infratil Ltd.
    127,220       242,737  
                 
              658,876  
 
 
 
10 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Norway 2.0%
                 
 
Banks 0.1%
Sparebanken 1 SMN
    22,973       144,001  
                 
 
Capital Goods 0.1%
Kongsberg Gruppen A.S.A.
    8,250       167,522  
                 
 
Commercial & Professional Services 0.2%
Tomra Systems A.S.A.
    36,631       301,407  
                 
 
Energy 0.9%
DNO International A.S.A. *
    157,500       277,543  
Dockwise Ltd. *
    5,820       128,455  
Fred. Olsen Energy A.S.A.
    4,405       194,604  
Frontline Ltd. *(c)
    7,500       25,016  
Norwegian Energy Co. A.S.A. *(c)
    23,775       15,406  
Petroleum Geo-Services A.S.A.
    28,125       471,527  
Prosafe SE
    30,000       252,832  
Songa Offshore SE *(c)
    26,250       26,419  
TGS Nopec Geophysical Co. A.S.A.
    13,875       439,761  
                 
              1,831,563  
                 
 
Food, Beverage & Tobacco 0.2%
Austevoll Seafood A.S.A.
    11,250       51,647  
Cermaq A.S.A. *
    9,375       126,634  
Marine Harvest *
    337,500       294,984  
                 
              473,265  
                 
 
Media 0.2%
Schibsted A.S.A.
    10,846       449,088  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Algeta A.S.A. *
    6,912       186,608  
                 
 
Real Estate 0.1%
Norwegian Property A.S.A.
    88,528       128,178  
                 
 
Semiconductors & Semiconductor Equipment 0.0%
Nordic Semiconductor A.S.A. *
    31,028       80,262  
Renewable Energy Corp. A.S.A. *(c)
    103,880       14,756  
                 
              95,018  
                 
 
Software & Services 0.1%
Atea A.S.A.
    17,668       191,859  
Opera Software A.S.A. (c)
    7,500       42,377  
                 
              234,236  
                 
              4,010,886  
 
Portugal 0.3%
                 
 
Banks 0.0%
Banco BPI S.A. - Reg’d *
    45,000       47,290  
                 
 
Capital Goods 0.1%
Sonae
    167,451       127,187  
                 
 
Materials 0.1%
Altri SGPS S.A.
    20,148       38,128  
Portucel-Empresa Produtora de Pasta e Papel S.A.
    28,018       77,326  
                 
              115,454  
                 
 
Media 0.1%
Zon Multimedia Servicos de Telecomunicacoes e Multimedia, SGPS, S.A.
    67,689       231,976  
                 
              521,907  
 
Republic of Korea 4.2%
                 
 
Automobiles & Components 0.1%
Nexen Tire Corp.
    6,130       96,237  
Ssangyong Motor Co. *
    20,300       101,608  
                 
              197,845  
                 
 
Banks 0.2%
Jeonbuk Bank
    18,054       69,692  
KB Financial Group, Inc. ADR
    4,094       134,570  
Shinhan Financial Group Co., Ltd. ADR
    4,104       131,492  
                 
              335,754  
                 
 
Capital Goods 0.4%
Doosan Engineering & Construction Co., Ltd. *
    14,500       31,334  
Hanjin Heavy Industries & Construction Holdings Co., Ltd.
    6,000       38,399  
Hyundai Elevator Co., Ltd.
    1,469       103,102  
Kolon Global Corp.
    7,200       21,742  
LG International Corp.
    4,863       203,214  
LS Industrial Systems Co., Ltd.
    2,126       143,324  
S&T Dynamics Co., Ltd.
    3,200       34,575  
STX Engine Co., Ltd.
    2,200       16,782  
Sung Kwang Bend Co., Ltd.
    3,300       76,340  
Taihan Electric Wire Co., Ltd. *
    2,574       13,407  
TK Corp. *
    3,300       65,217  
Unison Co., Ltd. *
    4,000       27,852  
                 
              775,288  
                 
 
Commercial & Professional Services 0.1%
KEPCO Plant Service & Engineer Co., Ltd.
    1,420       78,157  
                 
 
Consumer Durables & Apparel 0.2%
Fila Korea Ltd.
    1,500       83,668  
LG Fashion Corp.
    2,000       55,594  
Youngone Corp.
    4,000       128,550  
Youngone Holdings Co., Ltd.
    1,180       71,485  
                 
              339,297  
                 
 
Consumer Services 0.3%
Grand Korea Leisure Co., Ltd.
    2,500       71,455  
Hana Tour Service, Inc.
    2,970       174,165  
Hotel Shilla Co., Ltd.
    7,420       330,966  
Paradise Co., Ltd.
    4,500       77,919  
                 
              654,505  
                 
 
Diversified Financials 0.3%
KIWOOM Securities Co., Ltd.
    2,840       164,444  
Macquarie Korea Infrastructure Fund
    59,000       359,061  
TONGYANG Securities, Inc.
    27,220       96,779  
                 
              620,284  
                 
 
Food & Staples Retailing 0.0%
Dongsuh Cos., Inc.
    1,600       26,449  
                 
 
Food, Beverage & Tobacco 0.3%
Binggrae Co., Ltd.
    960       107,272  
Daesang Corp.
    14,040       369,525  
Maeil Dairy Industry Co., Ltd.
    2,000       62,613  
Samyang Holdings Corp.
    1,310       89,039  
                 
              628,449  
 
 
 
 11

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Health Care Equipment & Services 0.0%
Chabio & Diostech Co., Ltd. *
    6,400       53,193  
                 
 
Insurance 0.3%
Korean Reinsurance Co.
    17,750       170,476  
LIG Insurance Co., Ltd.
    7,100       161,297  
Meritz Fire & Marine Insurance Co., Ltd.
    19,082       230,848  
                 
              562,621  
                 
 
Materials 0.6%
Capro Corp.
    4,950       50,970  
Foosung Co., Ltd. *
    20,000       93,272  
Huchems Fine Chemical Corp.
    4,000       93,826  
Kolon Industries, Inc.
    2,920       159,099  
OCI Materials Co., Ltd.
    1,706       53,172  
Poongsan Corp.
    5,250       163,873  
Seah Besteel Corp.
    5,890       141,695  
SK Chemicals Co., Ltd.
    5,070       279,989  
Taekwang Industrial Co., Ltd.
    70       60,378  
Young Poong Corp.
    100       97,890  
                 
              1,194,164  
                 
 
Media 0.1%
CJ CGV Co., Ltd.
    2,000       60,212  
CJ E&M Corp. *
    1,500       38,994  
KT Skylife Co., Ltd. *
    2,500       71,570  
SM Entertainment Co. *
    1,728       73,885  
                 
              244,661  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Dong-A Pharmaceutical Co., Ltd.
    3,000       297,825  
Green Cross Corp.
    400       53,932  
Ilyang Pharmaceutical Co., Ltd. *
    1,500       33,384  
LG Life Sciences Ltd. *
    1,920       80,499  
Medipost Co., Ltd. *
    701       51,660  
RNL BIO Co., Ltd. *
    10,000       31,629  
Seegene, Inc. *
    1,000       66,953  
                 
              615,882  
                 
 
Retailing 0.3%
CJ O Shopping Co., Ltd.
    408       100,488  
GS Home Shopping, Inc.
    448       61,231  
Hyundai Greenfood Co. Ltd.
    7,400       122,325  
Hyundai Home Shopping Network Corp.
    1,000       112,204  
Lotte Himart Co., Ltd.
    2,000       136,492  
                 
              532,740  
                 
 
Semiconductors & Semiconductor Equipment 0.2%
GemVax & Kael Co., Ltd. *
    3,295       111,218  
Seoul Semiconductor Co., Ltd.
    11,280       235,944  
Silicon Works Co., Ltd.
    1,920       46,632  
Wonik IPS Co., Ltd. *
    5,500       22,171  
                 
              415,965  
                 
 
Technology Hardware & Equipment 0.3%
3S Korea Co., Ltd. *
    4,157       28,370  
Daeduck Electronics Co., Ltd.
    9,350       95,844  
Daeduck GDS Co., Ltd.
    3,200       53,193  
LG Innotek Co., Ltd. *
    2,750       217,136  
Partron Co., Ltd.
    3,200       56,148  
SFA Engineering Corp.
    3,616       144,927  
                 
              595,618  
                 
 
Telecommunication Services 0.1%
SK Broadband Co., Ltd. *
    59,000       260,442  
                 
 
Transportation 0.0%
Asiana Airlines, Inc. *
    12,280       68,383  
                 
 
Utilities 0.1%
Samchully Co., Ltd.
    590       72,739  
                 
              8,272,436  
 
Singapore 2.3%
                 
 
Capital Goods 0.1%
Gallant Venture Ltd. *
    375,000       81,425  
STX OSV Holdings Ltd. (c)
    75,000       85,112  
Tat Hong Holdings Ltd.
    75,000       86,034  
Triyards holdings Ltd. *
    15,200       8,905  
                 
              261,476  
                 
 
Consumer Durables & Apparel 0.0%
China Hongxing Sports Ltd. *(a)(b)
    884,000       —  
                 
 
Energy 0.1%
Ezion Holdings Ltd. (c)
    75,000       88,799  
Ezra Holdings Ltd. *(c)
    166,000       144,857  
Swiber Holdings Ltd. *(c)
    75,000       36,564  
                 
              270,220  
                 
 
Food, Beverage & Tobacco 0.2%
GMG Global Ltd.
    1,425,000       141,280  
Super Group Ltd.
    75,000       202,794  
                 
              344,074  
                 
 
Health Care Equipment & Services 0.2%
Biosensors International Group Ltd. *
    150,000       143,185  
Raffles Medical Group Ltd.
    75,000       151,788  
                 
              294,973  
                 
 
Materials 0.1%
LionGold Corp., Ltd. *(c)
    237,000       206,813  
Midas Holdings Ltd. (c)
    150,000       46,704  
                 
              253,517  
                 
 
Real Estate 1.2%
Ascendas India Trust
    75,000       46,090  
Ascott Residence Trust
    75,000       81,118  
CDL Hospitality Trusts
    166,000       261,830  
Fortune Real Estate Investment Trust (c)
    150,000       129,483  
Frasers Centrepoint Trust
    75,000       121,984  
Lippo Malls Indonesia Retail Trust
    225,000       86,648  
Mapletree Commercial Trust
    150,000       146,872  
Mapletree Industrial Trust
    150,000       168,995  
Mapletree Logistics Trust
    450,000       409,275  
Parkway Life Real Estate Investment Trust (c)
    75,000       131,509  
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust
    75,000       68,212  
Suntec Real Estate Investment Trust
    486,000       645,106  
                 
              2,297,122  
                 
 
Software & Services 0.0%
CSE Global Ltd.
    75,000       48,855  
                 
 
Transportation 0.2%
Goodpack Ltd.
    88,000       139,162  
 
 
 
12 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
SATS Ltd.
    150,000       349,051  
                 
              488,213  
                 
 
Utilities 0.2%
Cityspring Infrastructure Trust
    150,000       54,693  
Hyflux Ltd. (c)
    225,000       237,822  
Sound Global Ltd. (c)
    150,000       61,453  
                 
              353,968  
                 
              4,612,418  
 
Spain 1.4%
                 
 
Capital Goods 0.3%
Abengoa S.A. *(c)
    33,371       89,032  
Construcciones y Auxiliar de Ferrocarriles S.A.
    553       253,421  
Gamesa Corporacion Tecnologica S.A. (c)
    20,061       43,051  
Obrascon Huarte Lain S.A.
    10,670       276,646  
                 
              662,150  
                 
 
Commercial & Professional Services 0.1%
Prosegur, Compagnia de Seguridad S.A. - Reg’d
    45,000       246,399  
                 
 
Consumer Services 0.1%
Melia Hotels International S.A.
    15,281       114,477  
NH Hoteles S.A. *
    30,000       110,226  
                 
              224,703  
                 
 
Diversified Financials 0.1%
Bolsas y Mercados Espanoles (c)
    7,500       162,559  
                 
 
Energy 0.1%
Tecnicas Reunidas S.A.
    4,899       228,105  
                 
 
Food, Beverage & Tobacco 0.3%
Ebro Foods S.A.
    15,018       275,211  
Viscofan S.A.
    4,405       215,416  
                 
              490,627  
                 
 
Insurance 0.1%
Grupo Catalana Occidente S.A.
    9,536       149,822  
                 
 
Materials 0.1%
Ence Energia Y Celulosa S.A.
    36,995       89,495  
Tubacex S.A. *(c)
    32,832       80,278  
                 
              169,773  
                 
 
Media 0.0%
Antena 3 de Television S.A.
    14,040       61,537  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Almirall S.A.
    8,925       82,648  
Faes Farma S.A.
    61,068       115,563  
Zeltia S.A. *(c)
    56,955       91,484  
                 
              289,695  
                 
              2,685,370  
 
Sweden 2.4%
                 
 
Capital Goods 0.4%
Lindab International AB
    11,657       81,212  
NCC AB, B Shares
    11,714       227,289  
Peab AB
    31,674       143,988  
Trelleborg AB, B Shares
    36,540       432,694  
                 
              885,183  
                 
 
Commercial & Professional Services 0.1%
Intrum Justitia AB
    3,750       52,657  
Loomis AB, B Shares
    12,941       183,658  
                 
              236,315  
                 
 
Consumer Durables & Apparel 0.1%
JM AB
    10,166       174,047  
                 
 
Consumer Services 0.2%
Betsson AB *
    5,341       146,385  
Rezidor Hotel Group AB *
    36,012       122,767  
SkiStar AB
    4,483       56,217  
                 
              325,369  
                 
 
Diversified Financials 0.2%
Avanza Bank Holding AB
    6,508       127,547  
Investment AB Oresund *
    5,250       77,267  
L E Lundbergforetagen AB, B Shares
    6,685       225,788  
                 
              430,602  
                 
 
Food & Staples Retailing 0.2%
Axfood AB
    6,525       241,452  
Hakon Invest AB
    6,415       111,755  
                 
              353,207  
                 
 
Food, Beverage & Tobacco 0.2%
AarhusKarlshamn AB
    9,048       366,203  
                 
 
Materials 0.1%
Billerud AB (c)
    12,010       127,158  
Hoganas AB, B Shares
    4,393       150,090  
                 
              277,248  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Meda AB, A Shares
    26,862       276,337  
                 
 
Real Estate 0.7%
Castellum AB
    26,706       363,770  
Fabege AB
    23,025       236,692  
Hufvudstaden AB, A Shares
    18,759       239,464  
Kungsleden AB
    27,170       134,244  
Wallenstam AB, B Shares
    15,000       171,880  
Wihlborgs Fastigheter AB
    9,330       142,570  
                 
              1,288,620  
                 
 
Retailing 0.0%
Mekonomen AB
    3,150       94,613  
                 
 
Technology Hardware & Equipment 0.1%
Axis Communications AB (c)
    6,400       160,031  
                 
              4,867,775  
 
Switzerland 2.9%
                 
 
Banks 0.3%
Basler Kantonalbank
    790       84,083  
St. Galler Kantonalbank AG - Reg’d
    395       162,771  
Valiant Holding AG - Reg’d *
    2,402       255,394  
                 
              502,248  
                 
 
Capital Goods 0.9%
Belimo Holding AG - Reg’d
    83       149,712  
Bucher Industries AG - Reg’d
    1,500       281,412  
Georg Fischer AG - Reg’d *
    790       292,924  
Huber & Suhner AG - Reg’d
    3,941       169,951  
 
 
 
 13

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Kaba Holding AG, B Shares - Reg’d *
    790       321,918  
Meyer Burger Technology AG *
    6,093       39,726  
OC Oerlikon Corp. AG - Reg’d *
    34,065       364,772  
Rieter Holding AG - Reg’d *
    869       144,271  
Schweiter Technologies AG *
    174       85,929  
Zehnder Group AG
    900       42,260  
                 
              1,892,875  
                 
 
Commercial & Professional Services 0.0%
Gategroup Holding AG *
    1,875       46,146  
                 
 
Consumer Durables & Apparel 0.2%
Forbo Holding AG - Reg’d *
    478       308,296  
                 
 
Consumer Services 0.1%
Kuoni Reisen Holding AG - Reg’d *
    474       135,973  
                 
 
Diversified Financials 0.1%
Vontobel Holding AG - Reg’d
    5,814       166,311  
                 
 
Food, Beverage & Tobacco 0.0%
Emmi AG *
    150       36,431  
                 
 
Insurance 0.2%
Helvetia Holding AG - Reg’d
    948       342,811  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Galenica AG - Reg’d
    675       384,351  
Tecan Group AG - Reg’d *
    2,186       163,997  
                 
              548,348  
                 
 
Real Estate 0.2%
Allreal Holding AG - Reg’d *
    1,508       229,521  
Mobimo Holding AG - Reg’d *
    1,125       264,613  
                 
              494,134  
                 
 
Retailing 0.2%
Dufry AG - Reg’d *
    2,683       359,992  
Valora Holding AG - Reg’d
    474       90,922  
                 
              450,914  
                 
 
Software & Services 0.1%
Temenos Group AG - Reg’d *
    7,765       132,015  
                 
 
Technology Hardware & Equipment 0.1%
Logitech International S.A. - Reg’d *(c)
    26,631       188,004  
                 
 
Transportation 0.2%
Flughafen Zuerich AG - Reg’d
    474       209,524  
Panalpina Welttransport Holding AG - Reg’d
    2,876       262,640  
                 
              472,164  
                 
              5,716,670  
 
United Kingdom 19.3%
                 
 
Banks 0.1%
Paragon Group Cos. plc
    60,913       234,488  
                 
 
Capital Goods 2.7%
Ashtead Group plc
    68,625       421,450  
Balfour Beatty plc
    82,159       340,109  
Bodycote plc
    27,174       179,689  
Carillion plc
    58,810       274,367  
Chemring Group plc
    25,577       100,879  
Cookson Group plc
    40,070       393,657  
Fenner plc
    25,950       160,782  
Galliford Try plc
    7,500       87,865  
Interserve plc
    11,250       65,610  
Keller Group plc
    7,500       78,069  
Kier Group plc
    5,250       99,284  
Melrose Industries plc
    163,303       557,720  
Morgan Crucible Co. plc
    36,750       143,533  
Qinetiq Group plc
    92,449       293,215  
Rotork plc
    12,116       481,559  
Senior plc
    75,000       238,474  
SIG plc
    106,275       192,293  
Spirax-Sarco Engineering plc
    12,168       425,708  
Travis Perkins plc
    30,000       535,605  
Ultra Electronics Holdings plc
    10,166       265,731  
                 
              5,335,599  
                 
 
Commercial & Professional Services 1.5%
Babcock International Group plc
    45,000       718,668  
Berendsen plc
    31,757       295,193  
Cape plc
    15,000       45,555  
De La Rue plc
    16,010       246,962  
Homeserve plc
    47,783       183,561  
ITE Group plc
    57,534       180,080  
Michael Page International plc
    49,361       281,863  
Mitie Group plc
    62,336       268,139  
Regus plc
    128,032       201,086  
RPS Group plc
    46,921       159,645  
Shanks Group plc
    52,500       67,774  
Sthree plc
    15,000       75,725  
WS Atkins plc
    20,431       251,472  
                 
              2,975,723  
                 
 
Consumer Durables & Apparel 1.2%
Barratt Developments plc *
    139,875       437,357  
Bellway plc
    21,377       341,742  
Bovis Homes Group plc
    18,534       165,151  
Persimmon plc
    37,875       486,210  
Redrow plc *
    65,431       166,417  
Taylor Wimpey plc
    466,125       455,691  
The Berkeley Group Holdings plc *
    13,579       357,338  
                 
              2,409,906  
                 
 
Consumer Services 1.1%
Betfair Group plc
    7,500       88,346  
Bwin.Party Digital Entertainment plc
    105,000       183,423  
Dignity plc
    10,667       168,048  
Domino’s Pizza Group plc
    21,658       175,807  
Greene King plc
    35,581       348,986  
J.D. Wetherspoon plc
    23,708       206,696  
Marston’s plc
    115,728       232,210  
Millennium & Copthorne Hotels plc
    28,925       225,525  
Mitchells & Butlers plc *
    60,485       299,727  
Rank Group plc
    37,500       85,642  
Restaurant Group plc
    36,457       223,954  
                 
              2,238,364  
                 
 
Diversified Financials 1.6%
Aberdeen Asset Management plc
    138,750       751,602  
Close Brothers Group plc
    20,514       283,891  
F&C Asset Management plc
    75,000       118,155  
Henderson Group plc
    95,629       183,452  
IG Group Holdings plc
    47,708       323,805  
Intermediate Capital Group plc
    66,923       312,431  
International Personal Finance
    51,641       286,275  
Jupiter Fund Management plc
    37,500       166,115  
Provident Financial plc
    18,750       386,739  
 
 
 
14 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Rathbone Brothers plc
    11,125       221,977  
Tullett Prebon plc
    35,415       128,783  
                 
              3,163,225  
                 
 
Energy 0.9%
Afren plc *
    139,350       304,844  
Anglo Pacific Group plc
    7,500       28,998  
Enquest plc *
    106,275       194,167  
Heritage Oil plc *
    15,000       45,652  
Hunting plc
    22,875       298,417  
Premier Oil plc *
    69,375       373,911  
Salamander Energy plc *
    53,737       156,741  
SOCO International plc *
    52,077       303,047  
                 
              1,705,777  
                 
 
Food & Staples Retailing 0.2%
Booker Group plc
    160,160       254,499  
Greggs plc
    20,250       156,037  
                 
              410,536  
                 
 
Food, Beverage & Tobacco 0.5%
Britvic plc
    43,014       272,988  
Cranswick plc
    14,142       181,204  
Dairy Crest Group plc
    37,087       221,880  
Devro plc
    47,518       233,414  
                 
              909,486  
                 
 
Household & Personal Products 0.1%
PZ Cussons plc
    38,625       222,044  
                 
 
Insurance 1.2%
Amlin plc
    65,152       403,463  
Beazley plc
    108,793       307,391  
Catlin Group Ltd.
    52,403       405,473  
Hiscox Ltd.
    54,257       418,079  
Jardine Lloyd Thompson Group plc
    22,020       271,383  
Lancashire Holdings Ltd.
    24,225       309,235  
Phoenix Group Holdings
    12,096       97,897  
St. James’s Place plc
    26,607       170,268  
                 
              2,383,189  
                 
 
Materials 1.7%
AZ Electronic Materials S.A.
    37,500       220,745  
Centamin plc *
    108,264       101,850  
Croda International plc
    17,897       682,933  
DS Smith plc
    164,424       569,980  
Elementis plc
    37,500       133,420  
Filtrona plc
    33,750       317,234  
Hochschild Mining plc
    27,998       209,323  
Kenmare Resources plc *
    249,569       129,191  
Mondi plc
    56,194       577,730  
Petropavlovsk plc
    28,518       156,309  
RPC Group plc
    7,500       47,034  
Talvivaara Mining Co. plc *
    28,314       43,313  
Victrex plc
    12,352       304,461  
                 
              3,493,523  
                 
 
Media 0.6%
Informa plc
    78,750       530,581  
Rightmove plc
    12,000       288,092  
UBM plc
    26,250       309,632  
                 
              1,128,305  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.4%
BTG plc *
    52,500       300,377  
Dechra Pharmaceuticals plc
    11,250       105,204  
Genus plc
    8,741       192,620  
Hikma Pharmaceuticals plc
    23,519       284,391  
                 
              882,592  
                 
 
Real Estate 1.1%
Big Yellow Group plc
    27,087       149,898  
Capital & Counties Properties plc
    91,178       350,411  
Derwent London plc
    12,103       400,545  
Grainger plc
    57,451       102,662  
Great Portland Estates plc
    47,269       356,430  
Helical Bar plc
    23,081       82,212  
London & Stamford Property plc
    37,500       64,366  
Savills plc
    25,996       186,398  
Shaftesbury plc
    32,749       291,030  
Unite Group plc
    30,862       131,616  
                 
              2,115,568  
                 
 
Retailing 1.2%
Carpetright plc *
    8,362       93,809  
Debenhams plc
    234,532       443,154  
Dixons Retail plc *
    335,980       148,022  
Dunelm Group plc
    11,250       110,973  
Halfords Group plc
    32,202       176,088  
Home Retail Group plc
    97,125       173,869  
Howden Joinery Group plc
    101,250       272,286  
Inchcape plc
    57,750       395,757  
N Brown Group plc
    45,000       258,692  
Ocado Group plc *(c)
    37,806       44,776  
Sports Direct International plc *
    11,254       68,700  
WH Smith plc
    18,000       187,510  
                 
              2,373,636  
                 
 
Semiconductors & Semiconductor Equipment 0.2%
CSR plc
    24,686       132,576  
Imagination Technologies Group plc *
    34,875       227,147  
Wolfson Microelectronics plc *
    15,000       45,675  
                 
              405,398  
                 
 
Software & Services 0.6%
Aveva Group plc
    9,127       299,422  
Computacenter plc
    15,000       93,250  
Fidessa Group plc
    7,320       166,351  
Micro Focus International plc
    27,763       254,953  
SDL plc
    7,500       57,671  
Telecity Group plc
    21,000       288,429  
                 
              1,160,076  
                 
 
Technology Hardware & Equipment 1.0%
Domino Printing Sciences plc
    12,800       121,853  
Electrocomponents plc
    68,670       231,883  
Halma plc
    41,250       288,633  
Laird plc
    66,000       235,455  
Oxford Instruments plc
    9,474       206,647  
Premier Farnell plc
    67,500       189,421  
Renishaw plc
    3,750       108,780  
Spectris plc
    12,157       374,666  
Spirent Communications plc
    106,275       256,504  
                 
              2,013,842  
                 
 
Telecommunication Services 0.3%
Cable & Wireless Communications plc
    179,329       99,728  
Colt Group S.A. *
    88,528       142,589  
Kcom Group plc
    67,500       73,994  
 
 
 
 15

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
TalkTalk Telecom Group plc
    75,000       263,716  
                 
              580,027  
                 
 
Transportation 0.9%
BBA Aviation plc
    63,750       218,437  
easyJet plc
    31,556       361,851  
FirstGroup plc
    67,285       201,219  
Go-Ahead Group plc
    10,597       209,234  
National Express Group plc
    84,273       235,004  
Stagecoach Group plc
    83,152       389,796  
Stobart Group Ltd.
    88,528       144,149  
                 
              1,759,690  
                 
 
Utilities 0.2%
Pennon Group plc
    42,931       425,893  
                 
              38,326,887  
                 
Total Common Stock
(Cost $192,535,041)     195,267,298  
         
                 
                 
 
 Other Investment Companies 0.8% of net assets
 
Switzerland 0.2%
BB Biotech AG - Reg’d *
    1,921       176,569  
Schroder ImmoPLUS
    166       195,315  
Swisscanto Real Estate Fund Ifca
    1,025       132,772  
                 
              504,656  
 
United Kingdom 0.1%
F&C Commercial Property Trust Ltd.
    79,686       130,007  
 
United States 0.5%
iShares MSCI EAFE Small Cap Index Fund
    22,500       890,325  
State Street Institutional U.S. Government Money Market Fund
    77,338       77,338  
                 
              967,663  
                 
Total Other Investment Companies
(Cost $1,541,704)     1,602,326  
         
                 
                 
 
 Preferred Stock 0.6% of net assets
 
Germany 0.6%
                 
 
Capital Goods 0.1%
Jungheinrich AG
    2,149       81,921  
KSB AG
    158       75,006  
                 
              156,927  
                 
 
Materials 0.3%
Fuchs Petrolub AG
    7,206       503,002  
                 
 
Media 0.2%
ProSiebenSat.1 Media AG
    14,952       437,645  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Biotest AG
    750       43,256  
                 
Total Preferred Stock
(Cost $946,927)     1,140,830  
         
                 
                 
 
 Rights 0.0% of net assets
 
Australia 0.0%
                 
 
Energy 0.0%
Drillsearch Energy Ltd. *(a)
    3,983       831  
 
Republic of Korea 0.0%
                 
 
Capital Goods 0.0%
Taihan Electric Wire Co., Ltd. *(a)(b)
    7,306       8,737  
                 
Total Rights
(Cost $21,471)     9,568  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 3.2% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    6,356,378       6,356,378  
                 
Total Collateral Invested for Securities on Loan
(Cost $6,356,378)     6,356,378  
         
 
End of Collateral Invested for Securities on Loan
 
At 11/30/12, the tax basis cost of the fund’s investments was $195,054,986 and the unrealized appreciation and depreciation were $24,543,003 and ($21,577,967), respectively, with a net unrealized appreciation of $2,965,036.
 
* Non-income producing security.
(a) Fair-valued by management in accordance with procedures approved by the Board of Trustees.
(b) Illiquid security. At the period end, the value of these amounted to $8,737 or 0.0% of net assets.
(c) All or a portion of this security is on loan.
 
     
ADR —
  American Depositary Receipt
Reg’d —
  Registered
REIT —
  Real Estate Investment Trust
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
 
 
16 

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
 
 
 17

 

 
 Schwab International Small-Cap Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $195,267,298       $—       $—       $195,267,298  
Other Investment Companies1
    1,602,326       —       —       1,602,326  
Preferred Stock1
    1,140,830       —       —       1,140,830  
Rights1
    —       —       9,568       9,568  
                                 
Total
    $198,010,454       $—       $9,568       $198,020,022  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $6,356,378       $—       $—       $6,356,378  
 
     
1
  As categorized in Portfolio Holdings.
 
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
 
                                                                 
    Balance
 		      Change in
 		                  Balance
    as of
 		  Realized
 		  Unrealized
 		          Gross
 		  Gross
 		  as of
    August 31,
 		  Gains
 		  Gains
 		  Gross
 		  Gross
 		  Transfers
 		  Transfers
 		  November 30,
Investments in Securities
 
2012
 
(Losses)
 
(Losses)
 
Purchases
 
Sales
 
in
 
out
 
2012
 
Rights
                                                               
Australia
    $19,152       $1,242       ($18,321 )     $—       ($1,242 )     $—       $—       $831  
Republic of Korea
    —       —       (12,734 )     21,471       —       —       —       8,737  
Norway
    1,383       —       (1,383 )     —       —       —       —       —  
                                                                 
Total
    $20,535       $1,242       ($32,438 )     $21,471       ($1,242 )     $—       $—       $9,568  
                                                                 
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2012.
 
REG56691NOV12
 
 
 
18 

 

Schwab Strategic Trust
Schwab Emerging Markets Equity ETF™
 
Portfolio Holdings as of November 30, 2012 (Unaudited)
 
 
The following are the portfolio holdings as of the report date. For more information, please refer to the fund’s semiannual or annual shareholder reports.
 
                         
        Cost
 		  Value
Holdings by Category   ($)   ($)
 
  93 .0%   Common Stock     599,954,244       595,599,695  
  0 .0%   Corporate Bonds     1,005       275  
  6 .4%   Preferred Stock     51,406,906       40,806,525  
  0 .0%   Rights     —       26,325  
  0 .3%   Other Investment Company     1,907,097       1,907,097  
 
 
  99 .7%   Total Investments     653,269,252       638,339,917  
  0 .7%   Collateral Invested for Securities on Loan     4,739,574       4,739,574  
  (0 .4)%   Other Assets and
Liabilities, Net 		            (2,968,037 )
 
 
  100 .0%   Net Assets             640,111,454  
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Common Stock 93.0% of net assets
 
Brazil 8.9%
                 
 
Banks 1.5%
Banco Bradesco S.A. ADR
    359,550       6,054,822  
Banco do Brasil S.A.
    204,000       2,120,322  
Banco Santander Brasil S.A. ADR
    144,330       965,568  
Itau Unibanco Holding S.A.
    51,000       704,032  
                 
              9,844,744  
                 
 
Capital Goods 0.2%
Embraer S.A. ADR
    34,286       854,750  
Weg S.A.
    51,000       659,274  
                 
              1,514,024  
                 
 
Consumer Durables & Apparel 0.2%
Cyrela Brazil Realty S.A. Empreendimentos e Participacoes
    62,220       525,977  
MRV Engenharia e Participacoes S.A.
    61,200       328,355  
PDG Realty S.A. Empreendimentos e Participacoes
    228,480       326,245  
                 
              1,180,577  
                 
 
Diversified Financials 0.5%
BM&FBOVESPA S.A.
    411,606       2,507,126  
CETIP S.A. - Mercados Organizados
    26,788       278,936  
Grupo BTG Pactual
    34,286       487,941  
                 
              3,274,003  
                 
 
Energy 1.4%
Cosan S.A. Industria e Comercio
    25,500       475,282  
OGX Petroleo e Gas Participacoes S.A. *
    229,500       472,500  
OSX Brasil S.A. *
    8,696       37,086  
Petroleo Brasileiro S.A. ADR
    353,430       6,351,137  
Ultrapar Participacoes S.A. ADR
    76,500       1,572,840  
                 
              8,908,845  
                 
 
Food, Beverage & Tobacco 1.1%
BRF - Brasil Foods S.A. ADR
    205,803       3,776,485  
Companhia de Bebidas das Americas ADR
    25,500       927,435  
JBS S.A. *
    107,100       274,863  
Souza Cruz S.A.
    127,500       1,879,234  
                 
              6,858,017  
                 
 
Health Care Equipment & Services 0.1%
Amil Participacoes S.A.
    25,500       372,944  
                 
 
Household & Personal Products 0.3%
Hypermarcas S.A. *
    34,286       250,477  
Natura Cosmeticos S.A.
    51,000       1,368,387  
                 
              1,618,864  
                 
 
Insurance 0.0%
Porto Seguro S.A.
    20,400       218,032  
Sul America S.A.
    12,943       95,169  
                 
              313,201  
                 
 
Materials 1.2%
Braskem S.A. ADR (a)
    25,500       332,010  
Companhia Siderurgica Nacional S.A. ADR
    201,195       971,772  
Duratex S.A.
    60,804       425,455  
Fibria Celulose S.A. ADR *(a)
    25,500       257,805  
Gerdau S.A.
    25,500       179,153  
Usinas Siderurgicas de Minas Gerais S.A.
    51,000       330,242  
Vale S.A. ADR
    308,690       5,380,467  
                 
              7,876,904  
                 
 
Real Estate 0.2%
BR Malls Participacoes S.A.
    79,640       1,037,058  
Multiplan Empreendimentos Imobiliarios S.A.
    12,750       356,855  
                 
              1,393,913  
                 
 
Retailing 0.3%
Cia Hering
    20,222       458,928  
Lojas Americanas S.A.
    22,805       190,943  
Lojas Renner S.A.
    25,500       945,363  
                 
              1,595,234  
                 
 
Software & Services 0.2%
Cielo S.A.
    51,000       1,346,371  
                 
 
Telecommunication Services 0.4%
Oi S.A. ADR (a)
    192,789       730,670  
Oi S.A. ADR
    32,895       146,383  
 
 
 
 1

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Telefonica Brasil S.A. ADR
    39,525       867,179  
Tim Participacoes S.A.
    42,225       150,632  
Tim Participacoes S.A. ADR
    41,284       731,965  
                 
              2,626,829  
                 
 
Transportation 0.5%
All America Latina Logistica S.A.
    154,020       575,749  
CCR S.A.
    306,000       2,665,161  
                 
              3,240,910  
                 
 
Utilities 0.8%
Centrais Eletricas Brasileiras S.A. ADR
    86,190       315,455  
Companhia de Saneamento Basico do Estado de Sao Paulo ADR
    10,200       829,974  
Companhia Energetica de Minas Gerais ADR
    105,173       1,287,317  
Companhia Paranaense de Energia ADR (a)
    25,500       342,975  
CPFL Energia S.A. ADR
    25,245       551,351  
EDP - Energias do Brasil S.A.
    76,500       439,839  
Light S.A.
    25,500       286,694  
Tractebel Energia S.A.
    51,000       843,145  
                 
              4,896,750  
                 
              56,862,130  
 
Chile 2.3%
                 
 
Banks 0.5%
Banco de Chile
    16,608       2,483  
Banco de Chile ADR (a)
    11,449       1,032,929  
Banco de Credito e Inversiones
    5,163       341,111  
Banco Santander Chile ADR
    34,441       927,496  
Corpbanca S.A.
    37,694,454       496,923  
Sociedad Matriz Banco de Chile S.A., B Shares
    988,532       361,821  
                 
              3,162,763  
                 
 
Energy 0.2%
Empresas Copec S.A.
    94,860       1,310,561  
                 
 
Food & Staples Retailing 0.1%
Cencosud S.A.
    174,773       909,794  
                 
 
Food, Beverage & Tobacco 0.1%
Cia Cervecerias Unidas S.A.
    19,125       277,765  
                 
 
Materials 0.5%
Cap S.A.
    24,990       820,925  
Empresas CMPC S.A.
    246,330       893,827  
Sociedad Quimica y Minera de Chile S.A. ADR
    23,550       1,332,930  
                 
              3,047,682  
                 
 
Retailing 0.3%
S.A.C.I. Falabella
    169,065       1,686,255  
                 
 
Telecommunication Services 0.0%
Empresa Nacional de Telecomunicaciones S.A.
    10,200       209,464  
                 
 
Transportation 0.2%
Latam Airlines Group S.A. (a)
    68,601       1,519,512  
                 
 
Utilities 0.4%
Colbun S.A. *
    2,336,565       633,937  
Empresa Nacional de Electricidad S.A. ADR
    27,822       1,249,764  
Enersis S.A. ADR
    51,000       864,450  
                 
              2,748,151  
                 
              14,871,947  
 
China 17.8%
                 
 
Automobiles & Components 0.4%
Brilliance China Automotive Holdings Ltd. *
    666,000       810,366  
BYD Co., Ltd., H Shares *(a)
    80,000       205,212  
Dongfeng Motor Group Co., Ltd., H Shares
    580,000       815,737  
Great Wall Motor Co., Ltd., H Shares (a)
    262,000       856,988  
Guangzhou Automobile Group Co., Ltd., H Shares
    215,662       175,589  
                 
              2,863,892  
                 
 
Banks 5.1%
Agricultural Bank of China Ltd., H Shares
    4,080,000       1,789,924  
Bank of China Ltd., H Shares
    15,753,000       6,646,707  
Bank of Communications Co., Ltd., H Shares
    2,186,200       1,602,263  
China CITIC Bank Corp., Ltd., H Shares
    2,102,800       1,085,309  
China Construction Bank Corp., H Shares
    13,515,000       10,358,527  
China Merchants Bank Co., Ltd., H Shares
    753,658       1,443,124  
China Minsheng Banking Corp., Ltd., H Shares (a)
    1,128,600       1,106,749  
Chongqing Rural Commercial Bank, H Shares
    232,684       106,884  
Industrial & Commercial Bank of China Ltd., H Shares
    12,202,936       8,234,960  
                 
              32,374,447  
                 
 
Capital Goods 0.9%
Beijing Enterprises Holdings Ltd.
    127,500       821,753  
China Communications Construction Co., Ltd., H Shares
    1,020,000       929,181  
China International Marine Containers (Group) Co., Ltd., B Shares (c)
    421,400       527,426  
China Railway Construction Corp., Ltd., H Shares (a)
    382,500       426,423  
China Railway Group Ltd., H Shares
    510,000       296,785  
Citic Pacific Ltd. (a)
    255,000       322,120  
CITIC Resources Holdings Ltd. *
    510,000       75,677  
CSR Corp., Ltd., H Shares (a)
    538,000       454,694  
Metallurgical Corp. of China Ltd., H Shares *(a)
    335,000       59,651  
Shanghai Electric Group Co., Ltd., H Shares
    510,000       200,708  
Shanghai Industrial Holdings Ltd.
    255,000       834,091  
 
 
 
2 

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Shanghai Waigaoqiao Free Trade Zone Development Co., Ltd., B Shares
    51,000       33,966  
Shanghai Zhenhua Heavy Industry Co., Ltd., B Shares *
    790,500       237,941  
Weichai Power Co., Ltd., H Shares (a)
    30,000       112,838  
Zhuzhou CSR Times Electric Co., Ltd., H Shares
    74,000       224,386  
Zoomlion Heavy Industry Science & Technology Co., Ltd., H Shares (a)
    219,700       282,632  
                 
              5,840,272  
                 
 
Commercial & Professional Services 0.0%
Tianjin Capital Environmental Protection Group Co., Ltd., H Shares
    52,000       12,279  
                 
 
Consumer Durables & Apparel 0.0%
Shanghai Haixin Group Co., B Shares *
    127,500       46,155  
Weiqiao Textile Co., Ltd., H Shares
    166,500       60,154  
                 
              106,309  
                 
 
Consumer Services 0.0%
Shanghai Jinjiang International Hotels Development Co., Ltd., B Shares
    25,500       32,054  
                 
 
Diversified Financials 0.1%
China Everbright Ltd.
    100,000       144,257  
CITIC Securities Co., Ltd., H Shares (a)
    127,500       239,863  
Far East Horizon Ltd.
    333,000       233,313  
Haitong Securities Co., Ltd., H Shares *
    177,600       231,452  
                 
              848,885  
                 
 
Energy 3.5%
China Coal Energy Co., H Shares
    765,000       771,905  
China Oilfield Services Ltd., H Shares
    510,000       1,018,677  
China Petroleum & Chemical Corp., H Shares
    3,570,000       3,786,479  
China Shenhua Energy Co., Ltd., H Shares
    510,000       2,089,341  
CNOOC Ltd.
    3,120,000       6,674,744  
Inner Mongolia Yitai Coal Co., Ltd., B Shares
    178,500       994,602  
Kunlun Energy Co., Ltd.
    510,000       1,038,419  
PetroChina Co., Ltd., H Shares
    4,080,000       5,464,533  
Yanzhou Coal Mining Co., Ltd., H Shares
    510,000       780,459  
                 
              22,619,159  
                 
 
Food & Staples Retailing 0.2%
China Resources Enterprise Ltd.
    178,000       635,054  
Lianhua Supermarket Holdings Co., Ltd., H Shares (a)
    100,000       78,064  
Shanghai Friendship Group, Inc., Ltd., B Shares
    66,600       69,331  
Wumart Stores, Inc., H Shares
    80,000       166,605  
                 
              949,054  
                 
 
Food, Beverage & Tobacco 0.1%
Anhui Gujing Distillery Co., Ltd., B Shares
    13,000       33,447  
China Foods Ltd. (a)
    180,000       181,857  
Tsingtao Brewery Co., Ltd., H Shares
    80,000       450,062  
Yantai Changyu Pioneer Wine Co., Ltd., B Shares
    47,280       237,863  
                 
              903,229  
                 
 
Health Care Equipment & Services 0.2%
Shandong Weigao Group Medical Polymer Co., Ltd., H Shares
    176,000       181,903  
Shanghai Pharmaceuticals Holding Co., Ltd., H Shares
    127,500       238,876  
Sinopharm Group Co., H Shares
    221,200       686,429  
                 
              1,107,208  
                 
 
Insurance 1.7%
China Life Insurance Co., Ltd., H Shares
    1,530,000       4,511,003  
China Pacific Insurance (Group) Co., Ltd., H Shares
    357,100       1,170,359  
China Taiping Insurance Holdings Co., Ltd. *
    255,000       423,791  
New China Life Insurance Co., Ltd., H Shares
    31,700       98,576  
PICC Property & Casualty Co., Ltd., H Shares
    1,020,000       1,312,172  
Ping An Insurance (Group) Co., H Shares
    402,500       3,045,997  
                 
              10,561,898  
                 
 
Materials 0.7%
Aluminum Corp. of China Ltd., H Shares *(a)
    510,000       217,160  
Angang Steel Co., Ltd., H Shares *(a)
    150,000       94,451  
Anhui Conch Cement Co., Ltd., H Shares (a)
    255,000       848,898  
BBMG Corp., H Shares
    255,000       215,844  
Bengang Steel Plates Co., B Shares
    127,500       36,522  
China BlueChemical Ltd., H Shares
    1,020,000       637,002  
China National Building Material Co., Ltd., H Shares (a)
    510,000       665,957  
China Resources Cement Holdings Ltd. (a)
    510,000       320,475  
Jiangxi Copper Co., Ltd., H Shares
    258,000       662,473  
Maanshan Iron & Steel Co., Ltd., H Shares *(a)
    510,000       140,167  
Zhaojin Mining Industry Co., Ltd., H Shares
    127,500       216,173  
Zijin Mining Group Co., Ltd., H Shares (a)
    1,530,000       615,945  
                 
              4,671,067  
 
 
 
 3

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Real Estate 1.0%
China Overseas Land & Investment Ltd.
    724,000       2,143,960  
China Resources Land Ltd.
    510,000       1,362,185  
China Vanke Co., Ltd., B Shares
    535,500       829,156  
Guangzhou R&F Properties Co., Ltd., H Shares (a)
    246,800       420,990  
Sino-Ocean Land Holdings Ltd.
    1,020,000       771,247  
Yuexiu Property Co., Ltd.
    2,550,000       819,285  
                 
              6,346,823  
                 
 
Technology Hardware & Equipment 0.3%
BOE Technology Group Co., Ltd., B Shares *
    275,800       42,704  
Lenovo Group Ltd.
    1,530,000       1,441,152  
ZTE Corp., H Shares (a)
    170,760       257,791  
                 
              1,741,647  
                 
 
Telecommunication Services 2.6%
China Mobile Ltd.
    1,147,500       13,118,432  
China Telecom Corp., Ltd., H Shares
    4,080,000       2,221,611  
China Unicom (Hong Kong) Ltd.
    1,020,000       1,589,874  
                 
              16,929,917  
                 
 
Transportation 0.6%
Air China Ltd., H Shares
    972,000       650,922  
China COSCO Holdings Co., Ltd., H Shares *(a)
    658,500       301,633  
China Merchants Holdings International Co., Ltd.
    510,000       1,546,442  
China Shipping Container Lines Co., Ltd., H Shares *(a)
    333,000       88,083  
Cosco Pacific Ltd.
    510,000       719,918  
Guangdong Provincial Expressway Development Co., Ltd., B Shares
    102,000       30,666  
Jiangsu Expressway Co., Ltd., H Shares
    96,000       85,842  
Shanghai Jinjiang International Industrial Investment Co., Ltd., B Shares
    25,500       17,263  
Zhejiang Expressway Co., Ltd., H Shares
    510,000       388,914  
                 
              3,829,683  
                 
 
Utilities 0.4%
China Longyuan Power Group Corp., H Shares
    510,000       336,927  
China Resources Power Holdings Co., Ltd.
    510,000       1,143,709  
Datang International Power Generation Co., Ltd., H Shares
    1,530,000       536,977  
Huadian Energy Co., Ltd., B Shares *
    204,000       45,900  
Huaneng Power International, Inc., H Shares
    320,000       271,275  
                 
              2,334,788  
                 
              114,072,611  
 
Colombia 1.1%
                 
 
Banks 0.2%
Bancolombia S.A. ADR
    23,797       1,529,433  
                 
 
Diversified Financials 0.2%
Corp. Financiera Colombiana S.A.
    30,090       555,255  
Grupo de Inversiones Suramericana S.A.
    33,915       658,364  
                 
              1,213,619  
                 
 
Energy 0.5%
Ecopetrol S.A. ADR
    54,825       3,187,525  
                 
 
Food & Staples Retailing 0.1%
Almacenes Exito S.A.
    32,640       647,646  
                 
 
Materials 0.0%
Cementos Argos S.A.
    51,000       256,360  
                 
 
Utilities 0.1%
Interconexion Electrica S.A. ESP
    53,550       280,394  
Isagen S.A. ESP
    44,880       63,325  
                 
              343,719  
                 
              7,178,302  
 
Czech Republic 0.4%
                 
 
Banks 0.1%
Komercni Banka A/S
    3,315       660,577  
                 
 
Telecommunication Services 0.1%
Telefonica Czech Republic A/S
    18,263       325,286  
                 
 
Utilities 0.2%
CEZ A/S
    40,800       1,354,679  
                 
              2,340,542  
 
Egypt 0.5%
                 
 
Banks 0.2%
Commercial International Bank GDR - Reg’d
    155,550       808,860  
                 
 
Capital Goods 0.2%
Orascom Construction Industries GDR *
    35,445       1,324,934  
                 
 
Telecommunication Services 0.1%
Orascom Telecom Holding SAE GDR - Reg’d *
    227,727       653,804  
Orascom Telecom Media & Technology Holding SAE GDR (b)(d)
    176,826       73,790  
                 
              727,594  
                 
              2,861,388  
 
Hungary 0.5%
                 
 
Banks 0.2%
OTP Bank plc
    62,730       1,183,740  
                 
 
Energy 0.2%
MOL Hungarian Oil & Gas plc
    14,392       1,222,788  
 
 
 
4 

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Richter Gedeon Nyrt.
    2,805       460,555  
                 
              2,867,083  
 
India 9.6%
                 
 
Automobiles & Components 0.6%
Bajaj Auto Ltd.
    24,672       875,800  
Hero Motocorp Ltd.
    16,321       548,079  
Mahindra & Mahindra Ltd.
    47,430       825,742  
Maruti Suzuki India Ltd.
    15,300       414,558  
Tata Motors Ltd.
    179,775       903,750  
                 
              3,567,929  
                 
 
Banks 1.8%
Axis Bank Ltd.
    64,822       1,572,912  
Bank of Baroda
    18,938       265,504  
Canara Bank
    42,330       361,511  
HDFC Bank Ltd.
    215,475       2,788,558  
Housing Development Finance Corp., Ltd.
    207,164       3,212,480  
ICICI Bank Ltd.
    105,971       2,142,701  
State Bank of India
    29,325       1,170,035  
                 
              11,513,701  
                 
 
Capital Goods 0.5%
Bharat Heavy Electricals Ltd.
    142,800       615,225  
Cummins India Ltd.
    30,600       273,034  
Jaiprakash Associates Ltd.
    237,915       420,545  
Larsen & Toubro Ltd.
    48,012       1,472,180  
Siemens Ltd.
    15,555       191,767  
                 
              2,972,751  
                 
 
Consumer Durables & Apparel 0.1%
Titan Industries Ltd.
    124,950       716,002  
                 
 
Diversified Financials 0.4%
Bajaj Holdings & Investment Ltd.
    29,325       463,259  
IDFC Ltd.
    238,680       759,985  
Kotak Mahindra Bank Ltd.
    64,260       792,042  
Power Finance Corp., Ltd.
    51,000       180,439  
Rural Electrification Corp., Ltd.
    51,000       216,254  
Shriram Transport Finance Co., Ltd.
    10,200       125,683  
                 
              2,537,662  
                 
 
Energy 1.3%
Bharat Petroleum Corp., Ltd.
    74,970       478,942  
Cairn India Ltd.
    46,920       284,694  
Coal India Ltd.
    102,765       692,500  
Hindustan Petroleum Corp., Ltd.
    70,890       373,966  
Indian Oil Corp., Ltd.
    70,380       341,258  
Oil & Natural Gas Corp., Ltd.
    324,105       1,578,668  
Reliance Industries Ltd.
    291,547       4,254,083  
The Great Eastern Shipping Co., Ltd.
    60,690       283,004  
                 
              8,287,115  
                 
 
Food, Beverage & Tobacco 1.0%
ITC Ltd.
    1,097,010       6,019,993  
Nestle India Ltd.
    6,630       581,080  
                 
              6,601,073  
                 
 
Household & Personal Products 0.3%
Colgate-Palmolive (India) Ltd.
    20,400       540,443  
Dabur India Ltd.
    40,290       94,846  
Hindustan Unilever Ltd.
    141,270       1,397,507  
                 
              2,032,796  
                 
 
Materials 0.8%
Ambuja Cements Ltd.
    44,370       169,666  
Asian Paints Ltd.
    5,473       435,702  
Hindalco Industries Ltd.
    333,795       715,516  
Jindal Steel & Power Ltd.
    87,465       648,088  
JSW Steel Ltd.
    42,840       585,048  
Sesa Goa Ltd.
    87,975       294,679  
Sterlite Industries (India) Ltd. ADR
    87,876       693,342  
Tata Chemicals Ltd.
    68,340       411,083  
Tata Steel Ltd.
    49,980       354,854  
Ultratech Cement Ltd.
    17,850       637,080  
                 
              4,945,058  
                 
 
Media 0.1%
Zee Entertainment Enterprises Ltd.
    133,620       479,504  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.5%
Cipla Ltd.
    133,110       1,014,690  
Dr. Reddys Laboratories Ltd.
    20,910       699,396  
Lupin Ltd.
    56,610       615,066  
Piramal Healthcare Ltd.
    16,575       151,718  
Sun Pharmaceutical Industries Ltd.
    72,675       948,402  
                 
              3,429,272  
                 
 
Real Estate 0.1%
DLF Ltd.
    101,235       390,461  
Unitech Ltd. *
    564,228       328,817  
                 
              719,278  
                 
 
Software & Services 1.2%
HCL Technologies Ltd.
    49,980       603,215  
Infosys Ltd.
    107,100       4,797,989  
Mphasis Ltd.
    15,300       109,177  
Satyam Computer Services Ltd. *
    105,825       198,343  
Tata Consultancy Services Ltd.
    62,220       1,503,026  
Wipro Ltd. ADR
    85,615       749,131  
                 
              7,960,881  
                 
 
Telecommunication Services 0.4%
Bharti Airtel Ltd.
    311,100       1,927,396  
Idea Cellular Ltd. *
    337,620       602,372  
                 
              2,529,768  
                 
 
Transportation 0.0%
Adani Ports & Special Economic Zone Ltd.
    76,500       183,040  
Container Corp. Of India Ltd.
    5,100       87,102  
                 
              270,142  
                 
 
Utilities 0.5%
GAIL India Ltd.
    84,660       549,952  
NHPC Ltd.
    255,000       108,994  
NTPC Ltd.
    299,115       893,028  
Power Grid Corp. of India Ltd.
    245,055       531,152  
Reliance Infrastructure Ltd.
    22,950       204,755  
Reliance Power Ltd. *
    142,290       254,262  
Tata Power Co., Ltd.
    255,000       505,359  
 
 
 
 5

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
Torrent Power Ltd.
    12,750       37,644  
                 
              3,085,146  
                 
              61,648,078  
 
Indonesia 3.2%
                 
 
Automobiles & Components 0.7%
Astra International Tbk PT
    5,553,500       4,196,891  
                 
 
Banks 0.9%
Bank Danamon Indonesia Tbk PT
    255,000       143,535  
PT Bank Central Asia Tbk
    2,422,500       2,222,130  
PT Bank Mandiri (Persero) Tbk
    1,657,959       1,425,774  
PT Bank Negara Indonesia (Persero) Tbk
    765,316       295,165  
PT Bank Rakyat Indonesia (Persero) Tbk
    2,550,000       1,873,925  
                 
              5,960,529  
                 
 
Capital Goods 0.1%
PT United Tractors Tbk
    510,000       906,395  
                 
 
Energy 0.2%
PT Adaro Energy Tbk
    2,805,000       391,797  
PT Bumi Resources Tbk
    4,207,500       258,761  
PT Tambang Batubara Bukit Asam (Persero) Tbk
    255,000       372,127  
                 
              1,022,685  
                 
 
Food, Beverage & Tobacco 0.3%
Charoen Pokphand Indonesia Tbk PT
    1,589,000       567,293  
PT Astra Agro Lestari Tbk
    114,750       215,302  
PT Gudang Garam Tbk
    96,900       533,816  
PT Indofood Sukses Makmur Tbk
    915,900       558,505  
                 
              1,874,916  
                 
 
Household & Personal Products 0.1%
PT Unilever Indonesia Tbk
    297,000       815,755  
                 
 
Materials 0.3%
PT Indocement Tunggal Prakarsa Tbk
    255,000       617,997  
PT Semen Gresik (Persero) Tbk
    580,000       894,772  
PT Vale Indonesia Tbk
    637,500       137,886  
                 
              1,650,655  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
PT Kalbe Farma Tbk
    6,375,000       684,448  
                 
 
Telecommunication Services 0.3%
Indosat Tbk PT
    166,500       96,323  
PT Telekomunikasi Indonesia (Persero) Tbk
    2,040,000       1,913,796  
                 
              2,010,119  
                 
 
Transportation 0.0%
Jasa Marga Persero Tbk PT
    514,000       305,394  
                 
 
Utilities 0.2%
PT Perusahaan Gas Negara (Persero) Tbk
    2,040,000       962,214  
                 
              20,390,001  
 
Malaysia 4.8%
                 
 
Automobiles & Components 0.1%
UMW Holdings Berhad
    234,300       818,576  
                 
 
Banks 1.3%
Alliance Financial Group Berhad
    411,400       554,894  
CIMB Group Holdings Berhad
    958,500       2,355,455  
Hong Leong Bank Berhad
    133,100       641,910  
Malayan Banking Berhad
    925,200       2,754,523  
Public Bank Berhad - Foreign Market
    272,200       1,391,558  
RHB Capital Berhad
    133,100       328,399  
                 
              8,026,739  
                 
 
Capital Goods 0.6%
Gamuda Berhad
    563,200       676,266  
IJM Corp. Berhad
    263,500       429,090  
Sime Darby Berhad
    841,500       2,483,183  
                 
              3,588,539  
                 
 
Consumer Services 0.4%
Berjaya Sports Toto Berhad
    234,300       346,854  
Genting Berhad
    537,900       1,592,598  
Genting Malaysia Berhad
    601,400       676,631  
                 
              2,616,083  
                 
 
Diversified Financials 0.2%
AMMB Holdings Berhad
    512,600       1,075,874  
                 
 
Energy 0.1%
Petronas Dagangan Berhad
    76,500       581,851  
                 
 
Food, Beverage & Tobacco 0.5%
British American Tobacco Malaysia Berhad
    25,500       446,287  
Felda Global Ventures Holdings Berhad
    102,000       152,677  
IOI Corp. Berhad
    924,000       1,507,703  
Kuala Lumpur Kepong Berhad
    107,800       731,965  
PPB Group Berhad
    107,800       425,561  
                 
              3,264,193  
                 
 
Health Care Equipment & Services 0.1%
IHH Healthcare Berhad *
    382,500       437,898  
                 
 
Materials 0.2%
Lafarge Malayan Cement Berhad
    76,500       240,844  
Petronas Chemicals Group Berhad
    612,000       1,197,927  
                 
              1,438,771  
                 
 
Real Estate 0.1%
SP Setia Berhad
    422,200       422,235  
UEM Land Holdings Berhad *
    255,000       177,004  
                 
              599,239  
                 
 
Retailing 0.0%
Parkson Holdings Berhad
    25,500       38,001  
                 
 
Telecommunication Services 0.8%
Axiata Group Berhad
    1,233,600       2,402,471  
DiGi.com Berhad
    1,096,500       1,742,280  
Maxis Berhad
    436,700       923,754  
Telekom Malaysia Berhad
    127,500       229,435  
                 
              5,297,940  
 
 
 
6 

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Transportation 0.0%
AirAsia Berhad
    331,500       310,807  
                 
 
Utilities 0.4%
Petronas Gas Berhad
    153,000       926,129  
Tenaga Nasional Berhad
    255,250       582,757  
YTL Corp. Berhad
    978,040       569,498  
YTL Power International Berhad
    637,500       331,359  
                 
              2,409,743  
                 
              30,504,254  
 
Mexico 6.1%
                 
 
Banks 0.7%
Grupo Financiero Banorte S.A.B. de C.V., O Shares
    444,500       2,549,661  
Grupo Financiero Inbursa S.A.B. de C.V., O Shares
    408,000       1,131,943  
Grupo Financiero Santander Mexico S.A.B. de C.V., B Shares
    255,000       749,498  
                 
              4,431,102  
                 
 
Capital Goods 0.2%
Alfa S.A.B. de C.V., A Shares
    399,100       828,045  
Grupo Carso S.A.B. de C.V., Series A1
    178,500       729,093  
                 
              1,557,138  
                 
 
Food & Staples Retailing 0.7%
Organizacion Soriana S.A.B. de C.V., B Shares
    33,300       118,208  
Wal-Mart de Mexico S.A.B. de C.V., Series V
    1,368,900       4,297,858  
                 
              4,416,066  
                 
 
Food, Beverage & Tobacco 1.3%
Arca Continental S.A.B. de C.V.
    76,500       557,565  
Coca-Cola Femsa S.A.B. de C.V., Series L
    88,700       1,276,836  
Fomento Economico Mexicano S.A.B. de C.V.
    459,200       4,501,079  
Grupo Bimbo S.A.B. de C.V., Series A
    357,000       842,643  
Grupo Modelo S.A.B. de C.V., Series C
    127,500       1,143,290  
                 
              8,321,413  
                 
 
Household & Personal Products 0.1%
Kimberly-Clark de Mexico S.A.B. de C.V., A Shares
    306,000       742,157  
                 
 
Materials 1.3%
Cemex S.A.B. de C.V., Series CPO *
    2,536,700       2,261,502  
Grupo Mexico S.A.B. de C.V., Series B
    925,200       3,012,913  
Industrias Penoles S.A.B. de C.V.
    31,875       1,593,843  
Mexichem S.A.B. de C.V.
    131,797       679,902  
Minera Frisco S.A.B. de C.V., Series A1 *
    153,000       612,741  
                 
              8,160,901  
                 
 
Media 0.4%
Grupo Televisa S.A.B., Series CPO
    580,600       2,752,063  
                 
 
Retailing 0.1%
Grupo Elektra S.A. de C.V.
    15,420       650,674  
                 
 
Telecommunication Services 1.3%
America Movil S.A.B. de C.V., Series L
    6,962,900       8,233,582  
                 
              39,265,096  
 
Pakistan 0.0%
                 
 
Energy 0.0%
Oil & Gas Development Co., Ltd. GDR - Reg’d (d)
    9,984       182,208  
 
Peru 0.5%
                 
 
Banks 0.3%
Credicorp Ltd.
    11,834       1,655,577  
                 
 
Materials 0.2%
Companhia de Minas Buenaventura S.A. ADR
    49,215       1,612,775  
                 
              3,268,352  
 
Philippines 1.1%
                 
 
Banks 0.2%
Bank of the Philippine Islands
    441,389       960,715  
BDO Unibank, Inc. *
    356,190       622,396  
                 
              1,583,111  
                 
 
Capital Goods 0.4%
Aboitiz Equity Ventures, Inc.
    357,000       430,425  
DMCI Holdings, Inc.
    178,500       239,222  
San Miguel Corp.
    165,750       441,838  
SM Investments Corp.
    56,100       1,203,221  
                 
              2,314,706  
                 
 
Consumer Services 0.0%
Jollibee Foods Corp.
    81,600       208,540  
                 
 
Diversified Financials 0.1%
Ayala Corp.
    30,840       362,930  
                 
 
Real Estate 0.2%
Ayala Land, Inc.
    1,020,000       598,679  
SM Prime Holdings, Inc.
    1,275,000       485,180  
                 
              1,083,859  
                 
 
Telecommunication Services 0.1%
Philippine Long Distance Telephone Co.
    10,200       645,077  
                 
 
Utilities 0.1%
Aboitiz Power Corp.
    510,000       442,150  
Energy Development Corp.
    2,195,000       378,985  
                 
              821,135  
                 
              7,019,358  
 
 
 
 7

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
 
Poland 1.5%
                 
 
Banks 0.5%
Bank Handlowy w Warszawie S.A.
    10,965       339,876  
Bank Pekao S.A.
    22,950       1,144,724  
BRE Bank S.A. *
    2,295       229,380  
Get Bank S.A. *
    377,717       195,928  
Powszechna Kasa Oszczednosci Bank Polski S.A.
    113,985       1,254,623  
                 
              3,164,531  
                 
 
Energy 0.2%
Polski Koncern Naftowy Orlen S.A. *
    54,315       785,095  
Polskie Gornictwo Naftowe I Gazownictwo S.A. *
    280,500       390,366  
                 
              1,175,461  
                 
 
Insurance 0.2%
Powszechny Zaklad Ubezpieczen S.A.
    12,750       1,591,708  
                 
 
Materials 0.3%
Jastrzebska Spolka Weglowa S.A.
    10,280       284,341  
KGHM Polska Miedz S.A.
    30,869       1,744,750  
Synthos S.A.
    50,763       91,518  
                 
              2,120,609  
                 
 
Telecommunication Services 0.1%
Telekomunikacja Polska S.A.
    123,165       459,680  
                 
 
Utilities 0.2%
PGE S.A.
    202,470       1,174,482  
Tauron Polska Energia S.A.
    111,180       152,265  
                 
              1,326,747  
                 
              9,838,736  
 
Russia 6.6%
                 
 
Banks 1.1%
Sberbank of Russia ADR
    515,355       6,096,649  
VTB Bank OJSC GDR - Reg’d
    239,190       796,503  
                 
              6,893,152  
                 
 
Consumer Durables & Apparel 0.0%
PIK Group GDR - Reg’d *
    27,540       57,008  
                 
 
Energy 3.7%
Gazprom OAO ADR
    877,392       7,800,015  
LUKOIL OAO ADR
    119,595       7,528,505  
NovaTek OAO GDR - Reg’d
    18,360       2,014,092  
Rosneft Oil Co. OJSC GDR - Reg’d
    373,512       2,913,393  
Surgutneftegas OAO ADR
    139,230       1,173,013  
Tatneft OAO ADR
    51,765       2,048,859  
                 
              23,477,877  
                 
 
Food & Staples Retailing 0.4%
Magnit OJSC GDR - Reg’d
    65,280       2,303,078  
                 
 
Materials 0.7%
MMC Norilsk Nickel OJSC ADR
    96,900       1,536,834  
Novolipetsk Steel OJSC GDR - Reg’d
    14,790       293,729  
Severstal OAO GDR - Reg’d
    57,120       650,026  
Uralkali OJSC GDR - Reg’d
    47,430       1,756,333  
                 
              4,236,922  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Pharmstandard OJSC GDR - Reg’d *
    6,375       91,162  
                 
 
Real Estate 0.0%
LSR Group GDR - Reg’d
    34,680       145,656  
                 
 
Telecommunication Services 0.5%
Mobile TeleSystems OJSC ADR
    102,887       1,793,321  
Rostelecom OJSC ADR
    46,714       964,644  
Sistema JSFC GDR - Reg’d
    24,122       456,388  
                 
              3,214,353  
                 
 
Utilities 0.2%
Federal Hydrogenerating Co. JSC ADR
    663,032       1,504,420  
                 
              41,923,628  
 
South Africa 10.0%
                 
 
Banks 0.9%
ABSA Group Ltd.
    69,870       1,115,321  
Nedbank Group Ltd.
    49,725       1,003,973  
Standard Bank Group Ltd.
    305,273       3,614,030  
                 
              5,733,324  
                 
 
Capital Goods 0.4%
Aveng Ltd.
    100,470       304,400  
Barloworld Ltd.
    45,135       369,896  
Bidvest Group Ltd.
    67,320       1,590,246  
Reunert Ltd.
    43,860       362,706  
                 
              2,627,248  
                 
 
Consumer Durables & Apparel 0.2%
Steinhoff International Holdings Ltd. *
    341,251       1,052,350  
                 
 
Consumer Services 0.0%
Sun International Ltd.
    20,400       210,962  
                 
 
Diversified Financials 1.0%
African Bank Investments Ltd.
    153,000       546,065  
FirstRand Ltd.
    827,220       2,705,586  
Investec Ltd.
    64,515       396,958  
JSE Ltd.
    33,953       272,942  
Remgro Ltd.
    98,175       1,653,475  
RMB Holdings Ltd.
    186,915       824,523  
                 
              6,399,549  
                 
 
Energy 0.9%
Exxaro Resources Ltd.
    29,580       514,375  
Sasol Ltd.
    118,830       5,012,403  
                 
              5,526,778  
                 
 
Food & Staples Retailing 0.6%
Clicks Group Ltd.
    48,012       340,553  
Massmart Holdings Ltd.
    20,205       419,096  
Pick n Pay Stores Ltd.
    54,060       245,835  
Shoprite Holdings Ltd.
    104,805       2,265,569  
The Spar Group Ltd.
    45,390       637,522  
                 
              3,908,575  
 
 
 
8 

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Food, Beverage & Tobacco 0.3%
AVI Ltd.
    99,195       645,300  
Tiger Brands Ltd.
    32,130       1,083,432  
                 
              1,728,732  
                 
 
Health Care Equipment & Services 0.2%
Life Healthcare Group Holdings Ltd.
    172,890       622,894  
Mediclinic International Ltd.
    64,634       351,481  
Netcare Ltd.
    283,305       564,256  
                 
              1,538,631  
                 
 
Insurance 0.5%
Discovery Holdings Ltd.
    82,110       515,943  
MMI Holdings Ltd.
    284,325       668,085  
Sanlam Ltd.
    424,575       1,955,113  
                 
              3,139,141  
                 
 
Materials 1.7%
AECI Ltd.
    31,110       273,205  
African Rainbow Minerals Ltd.
    18,360       368,362  
Anglo American Platinum Ltd.
    19,890       876,160  
AngloGold Ashanti Ltd.
    71,145       2,227,451  
ArcelorMittal South Africa Ltd. *
    32,130       112,141  
Gold Fields Ltd.
    147,390       1,828,871  
Harmony Gold Mining Co., Ltd.
    103,275       813,233  
Impala Platinum Holdings Ltd.
    120,306       1,959,295  
Kumba Iron Ore Ltd.
    18,360       1,124,516  
Mondi Ltd.
    7,862       80,551  
Nampak Ltd.
    163,965       569,509  
Northam Platinum Ltd.
    24,672       97,222  
PPC Ltd.
    120,105       395,667  
Sappi Ltd. *
    61,200       199,271  
                 
              10,925,454  
                 
 
Media 0.7%
Naspers Ltd., N Shares
    76,755       4,744,311  
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Aspen Pharmacare Holdings Ltd. *
    83,640       1,473,463  
                 
 
Real Estate 0.3%
Capital Property Fund
    132,855       164,238  
Fountainhead Property Trust
    336,244       315,351  
Growthpoint Properties Ltd.
    404,940       1,116,994  
Hyprop Investments Ltd.
    2,805       22,738  
                 
              1,619,321  
                 
 
Retailing 0.8%
Imperial Holdings Ltd.
    45,651       969,311  
Mr. Price Group Ltd.
    51,000       763,688  
The Foschini Group Ltd.
    56,355       812,150  
Truworths International Ltd.
    93,075       997,618  
Woolworths Holdings Ltd.
    176,205       1,406,363  
                 
              4,949,130  
                 
 
Telecommunication Services 1.3%
Allied Technologies Ltd.
    7,529       31,152  
MTN Group Ltd.
    391,350       7,209,786  
Telkom SA Ltd. *
    110,445       192,118  
Vodacom Group Ltd.
    85,170       1,141,111  
                 
              8,574,167  
                 
 
Transportation 0.0%
Grindrod Ltd.
    76,245       132,713  
                 
              64,283,849  
 
Taiwan 13.1%
                 
 
Automobiles & Components 0.2%
Cheng Shin Rubber Industry Co., Ltd.
    339,224       865,165  
China Motor Corp.
    50,000       45,949  
Yulon Motor Co., Ltd.
    271,000       489,691  
                 
              1,400,805  
                 
 
Banks 1.2%
Chang Hwa Commercial Bank
    1,140,956       618,505  
China Development Financial Holding Corp. *
    2,828,268       690,178  
Chinatrust Financial Holding Co., Ltd.
    2,474,597       1,435,154  
E.Sun Financial Holding Co., Ltd.
    1,104,093       609,923  
First Financial Holding Co., Ltd.
    1,217,715       743,940  
Hua Nan Financial Holdings Co., Ltd.
    1,609,668       911,373  
Mega Financial Holding Co., Ltd.
    1,829,069       1,432,206  
SinoPac Financial Holdings Co., Ltd.
    1,047,049       439,664  
Taishin Financial Holding Co., Ltd.
    548,326       208,543  
Taiwan Cooperative Financial Holding
    1,183,669       651,845  
                 
              7,741,331  
                 
 
Capital Goods 0.2%
Far Eastern New Century Corp.
    802,592       954,414  
Taiwan Glass Industrial Corp.
    281,036       265,037  
Walsin Lihwa Corp. *
    1,020,000       320,176  
                 
              1,539,627  
                 
 
Commercial & Professional Services 0.0%
Taiwan Secom Co., Ltd.
    48,000       102,926  
                 
 
Consumer Durables & Apparel 0.2%
Formosa Taffeta Co., Ltd.
    255,000       241,361  
Giant Manufacturing Co., Ltd.
    38,000       201,418  
Pou Chen Corp.
    526,580       543,726  
Tatung Co., Ltd. *
    510,000       125,683  
                 
              1,112,188  
                 
 
Diversified Financials 0.5%
Capital Securities Corp.
    784,629       293,014  
Fubon Financial Holding Co., Ltd.
    1,510,078       1,715,171  
Yuanta Financial Holding Co., Ltd.
    2,069,316       1,046,979  
                 
              3,055,164  
                 
 
Energy 0.1%
Formosa Petrochemical Corp.
    333,000       1,012,043  
                 
 
Food & Staples Retailing 0.1%
President Chain Store Corp.
    141,000       723,102  
                 
 
Food, Beverage & Tobacco 0.3%
Uni-President Enterprises Corp.
    925,134       1,652,594  
 
 
 
 9

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Insurance 0.3%
Cathay Financial Holding Co., Ltd.
    1,356,551       1,445,077  
Shin Kong Financial Holding Co., Ltd. *
    1,555,151       430,886  
                 
              1,875,963  
                 
 
Materials 1.9%
Asia Cement Corp.
    533,187       685,432  
China Steel Corp.
    2,141,519       1,960,639  
Feng Hsin Iron & Steel Co.
    60,000       101,604  
Formosa Chemicals & Fibre Corp.
    795,000       1,882,563  
Formosa Plastics Corp.
    1,275,000       3,357,111  
Nan Ya Plastics Corp.
    1,530,000       2,706,753  
Oriental Union Chemical Corp.
    91,300       113,599  
Taiwan Cement Corp.
    697,690       913,716  
Taiwan Fertilizer Co., Ltd.
    82,000       213,368  
YFY, Inc.
    510,000       216,786  
                 
              12,151,571  
                 
 
Real Estate 0.0%
Cathay Real Estate Development Co., Ltd.
    333,000       158,167  
                 
 
Retailing 0.1%
Hotai Motor Co., Ltd.
    50,000       370,001  
                 
 
Semiconductors & Semiconductor Equipment 3.8%
Advanced Semiconductor Engineering, Inc.
    1,427,488       1,196,370  
Epistar Corp.
    89,000       132,333  
Inotera Memories, Inc. *
    631,000       47,346  
Macronix International Co., Ltd.
    789,383       221,432  
MediaTek, Inc.
    255,099       2,901,845  
MStar Semiconductor, Inc.
    72,255       619,243  
Novatek Microelectronics Corp.
    79,000       318,132  
Realtek Semiconductor Corp.
    100,000       201,693  
Siliconware Precision Industries Co. ADR
    162,435       877,149  
Taiwan Semiconductor Manufacturing Co., Ltd. ADR
    971,044       16,769,930  
United Microelectronics Corp. ADR
    509,961       974,026  
Winbond Electronics Corp. *
    765,000       115,063  
                 
              24,374,562  
                 
 
Technology Hardware & Equipment 3.4%
Acer, Inc. *
    510,086       444,179  
Advantech Co., Ltd.
    47,500       177,385  
Asustek Computer, Inc.
    121,426       1,339,472  
AU Optronics Corp. ADR *
    178,500       735,420  
Catcher Technology Co., Ltd.
    108,000       553,865  
Cheng Uei Precision Industry Co., Ltd.
    70,929       167,228  
Chicony Electronics Co., Ltd.
    85,956       201,473  
Chimei Innolux Corp. *
    1,020,000       456,392  
Compal Communications, Inc. *
    255,000       272,518  
Compal Electronics, Inc.
    759,610       513,745  
Delta Electronics, Inc.
    447,000       1,600,055  
Foxconn Technology Co., Ltd.
    283,557       990,605  
Hon Hai Precision Industry Co., Ltd.
    2,227,880       7,146,638  
HTC Corp.
    142,750       1,306,928  
Inventec Corp.
    794,145       299,301  
Largan Precision Co., Ltd.
    17,000       464,583  
Lite-On Technology Corp.
    512,835       700,749  
Nan Ya Printed Circuit Board Corp.
    30,000       35,623  
Pegatron Corp. *
    281,441       367,131  
Quanta Computer, Inc.
    510,000       1,281,407  
Synnex Technology International Corp.
    261,053       497,774  
TPK Holding Co., Ltd.
    48,396       772,897  
Unimicron Technology Corp.
    510,000       554,691  
Wistron Corp.
    552,891       607,050  
Yageo Corp. *
    357,000       108,990  
                 
              21,596,099  
                 
 
Telecommunication Services 0.7%
Chunghwa Telecom Co., Ltd. ADR
    73,950       2,377,493  
Far EasTone Telecommunications Co., Ltd.
    289,000       724,141  
Taiwan Mobile Co., Ltd.
    316,600       1,138,731  
                 
              4,240,365  
                 
 
Transportation 0.1%
China Airlines Ltd. *
    375,000       151,012  
Eva Airways Corp. *
    305,000       176,886  
Evergreen Marine Corp., Ltd. *
    350,199       206,113  
U-Ming Marine Transport Corp.
    30,000       47,859  
Yang Ming Marine Transport Corp. *
    270,200       113,924  
                 
              695,794  
                 
              83,802,302  
 
Thailand 2.6%
                 
 
Banks 0.8%
Bangkok Bank PCL NVDR
    102,000       608,211  
Kasikornbank PCL NVDR
    306,000       1,864,516  
Krung Thai Bank PCL NVDR
    1,081,900       648,647  
Siam Commercial Bank PCL NVDR
    382,500       2,025,293  
                 
              5,146,667  
                 
 
Energy 0.6%
Banpu PCL NVDR
    25,500       328,201  
IRPC PCL NVDR
    3,085,500       418,237  
PTT Exploration & Production PCL NVDR
    255,000       1,321,114  
PTT PCL NVDR
    153,000       1,595,308  
Thai Oil PCL NVDR
    102,000       219,355  
                 
              3,882,215  
                 
 
Food & Staples Retailing 0.2%
Big C Supercenter PCL NVDR
    51,000       324,047  
CP ALL PCL NVDR
    990,200       1,274,451  
                 
              1,598,498  
                 
 
Food, Beverage & Tobacco 0.1%
Charoen Pokphand Foods PCL NVDR
    790,500       843,561  
                 
 
Health Care Equipment & Services 0.0%
Bangkok Dusit Medical Services PCL NVDR
    66,600       243,050  
 
 
 
10 

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
    Number
 		  Value
Security   of Shares   ($)
                 
 
Materials 0.3%
Indorama Ventures PCL NVDR
    255,000       211,877  
PTT Global Chemical PCL NVDR
    262,014       554,934  
Siam Cement PCL NVDR
    76,500       984,604  
                 
              1,751,415  
                 
 
Media 0.1%
BEC World PCL NVDR
    178,500       338,795  
                 
 
Real Estate 0.1%
Central Pattana PCL NVDR
    102,000       269,208  
Land & Houses PCL NVDR
    510,000       157,038  
                 
              426,246  
                 
 
Telecommunication Services 0.3%
Advanced Info Service PCL NVDR
    229,500       1,645,161  
Total Access Communication PCL NVDR
    76,500       218,732  
                 
              1,863,893  
                 
 
Transportation 0.0%
Airports of Thailand PCL NVDR
    76,500       234,311  
Thai Airways International PCL NVDR *
    76,500       54,589  
                 
              288,900  
                 
 
Utilities 0.1%
Electricity Generating PCL NVDR
    51,000       209,384  
Glow Energy PCL NVDR
    112,700       266,235  
                 
              475,619  
                 
              16,858,859  
 
Turkey 2.1%
                 
 
Automobiles & Components 0.0%
Ford Otomotiv Sanayi A/S
    17,850       182,903  
                 
 
Banks 1.0%
Akbank T.A.S.
    305,783       1,434,789  
Turkiye Garanti Bankasi A/S
    340,425       1,616,397  
Turkiye Halk Bankasi A/S
    96,135       931,233  
Turkiye Is Bankasi, C Shares
    307,530       991,838  
Turkiye Vakiflar Bankasi Tao, D Shares
    218,139       528,873  
Yapi ve Kredi Bankasi A/S *
    198,135       522,532  
                 
              6,025,662  
                 
 
Capital Goods 0.2%
Dogan Sirketler Grubu Holdings A/S *
    355,674       171,270  
Enka Insaat ve Sanayi A/S
    48,619       129,582  
KOC Holding A/S
    182,602       836,353  
Turkiye Sise ve Cam Fabrikalari A/S
    79,130       116,527  
                 
              1,253,732  
                 
 
Consumer Durables & Apparel 0.0%
Arcelik A/S
    37,995       230,827  
                 
 
Diversified Financials 0.1%
Haci Omer Sabanci Holding A/S
    151,261       780,888  
                 
 
Energy 0.1%
Tupras-Turkiye Petrol Rafinerileri A/S
    23,970       640,202  
                 
 
Food & Staples Retailing 0.1%
BIM Birlesik Magazalar A/S
    18,360       835,270  
                 
 
Food, Beverage & Tobacco 0.1%
Anadolu Efes Biracilik ve Malt Sanayii A/S
    47,940       697,914  
Coca-Cola Icecek A/S
    2,295       44,976  
                 
              742,890  
                 
 
Materials 0.1%
Eregli Demir ve Celik Fabrikalari T.A.S.
    369,176       465,100  
                 
 
Real Estate 0.1%
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S
    158,100       247,868  
                 
 
Telecommunication Services 0.2%
Turk Telekomunikasyon A/S
    152,622       570,853  
Turkcell Iletisim Hizmetleri A/S *
    149,685       900,985  
                 
              1,471,838  
                 
 
Transportation 0.1%
Turk Hava Yollari Anonim Ortakligi *
    185,130       545,247  
                 
              13,422,427  
 
United Arab Emirates 0.3%
                 
 
Banks 0.1%
Abu Dhabi Commercial Bank PJSC
    248,472       201,592  
First Gulf Bank PJSC
    138,700       392,725  
                 
              594,317  
                 
 
Diversified Financials 0.0%
Dubai Financial Market *
    510,048       137,892  
                 
 
Energy 0.0%
Dana Gas PJSC *
    532,256       57,964  
                 
 
Real Estate 0.1%
Aldar Properties PJSC
    222,726       76,405  
Emaar Properties PJSC
    572,822       586,390  
                 
              662,795  
                 
 
Transportation 0.1%
DP World Ltd.
    54,890       685,576  
                 
              2,138,544  
                 
Total Common Stock
(Cost $599,954,244)     595,599,695  
         
                 
                 
 
 
 
 11

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
                 
Security
 		  Face Amount
 		  Value
    Rate, Maturity Date   (local currency)   ($)
 
 Corporate Bonds 0.0% of net assets
 
India 0.0%
                 
 
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Dr. Reddy’s Laboratories Ltd.
9.25%, 03/24/14 (INR)
    285,360       275  
                 
Total Corporate Bond
(Cost $1,005)     275  
         
                 
                 
    Number
 		  Value
Security   of Shares   ($)
 
 Preferred Stock 6.4% of net assets
 
Brazil 6.3%
                 
 
Banks 1.4%
Itau Unibanco Holding S.A. ADR
    422,794       6,405,329  
Itausa - Investimentos Itau S.A.
    578,800       2,644,139  
                 
              9,049,468  
                 
 
Energy 1.4%
Petroleo Brasileiro S.A. ADR
    526,830       9,245,866  
                 
 
Food & Staples Retailing 0.2%
Companhia Brasileira de Distribuicao Grupo Pao de Acucar ADR
    25,500       1,103,640  
                 
 
Food, Beverage & Tobacco 1.3%
Companhia de Bebidas das Americas ADR
    205,803       8,563,463  
                 
 
Materials 1.7%
Bradespar S.A.
    51,000       689,516  
Gerdau S.A.
    162,690       1,367,584  
Klabin S.A.
    127,500       728,226  
Metalurgica Gerdau S.A.
    51,000       543,145  
Usinas Siderurgicas de Minas Gerais S.A., A Shares
    102,000       604,839  
Vale S.A. ADR
    389,895       6,663,305  
                 
              10,596,615  
                 
 
Retailing 0.2%
Lojas Americanas S.A.
    112,916       1,007,031  
                 
 
Utilities 0.1%
AES Tiete S.A.
    25,500       275,806  
Centrais Eletricas Brasileiras S.A. ADR (a)
    55,590       264,608  
Companhia Energetica de Sao Paulo, B Shares
    25,500       211,089  
                 
              751,503  
                 
              40,317,586  
 
Chile 0.0%
                 
 
Food, Beverage & Tobacco 0.0%
Embotelladora Andina S.A., B Shares
    23,715       152,129  
 
Colombia 0.1%
                 
 
Diversified Financials 0.0%
Grupo de Inversiones Suramericana S.A.
    7,650       156,009  
                 
 
Materials 0.1%
Grupo Argos S.A.
    17,085       180,801  
                 
              336,810  
                 
Total Preferred Stock
(Cost $51,406,906)     40,806,525  
         
                 
                 
 
 Rights 0.0% of net assets
 
Chile 0.0%
                 
 
Banks 0.0%
Banco de Chile *(c)
    44,457       731  
 
Thailand 0.0%
                 
 
Energy 0.0%
PTT Exploration & Production PCL NVDR *(c)
    46,205       25,594  
                 
Total Rights
(Cost $—)     26,325  
         
                 
                 
 
 Other Investment Company 0.3% of net assets
 
United States 0.3%
State Street Institutional U.S. Government Money Market Fund
    1,907,097       1,907,097  
                 
Total Other Investment Company
(Cost $1,907,097)     1,907,097  
         
 
End of Investments
                 
                 
 
 Collateral Invested for Securities on Loan 0.7% of net assets
                 
                 
State Street Institutional U.S. Government Money Market Fund
    4,739,574       4,739,574  
                 
Total Collateral Invested for Securities on Loan
(Cost $4,739,574)     4,739,574  
         
 
End of Collateral Invested for Securities on Loan
 
 
 
12 

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
At 11/30/12, the tax basis cost of the fund’s investments was $654,521,850 and the unrealized appreciation and depreciation were $55,986,815 and ($72,168,748), respectively, with a net unrealized depreciation of ($16,181,933).
 
* Non-income producing security.
(a) All or a portion of this security is on loan.
(b) Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $73,790 or 0.0% of net assets.
(c) Fair-valued by management in accordance with procedures approved by the Board of Trustees.
(d) Illiquid security. At the period end, the value of these amounted to $255,998 or 0% of net assets.
 
     
ADR —
  American Depositary Receipt
GDR —
  Global Depositary Receipt
NVDR —
  Non-Voting Depositary Receipt
Reg’d —
  Registered
 
     
INR —
  Indian rupee
 
 
Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
 
The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:
 
  •  Securities traded on an exchange or over-the-counter: valued at the closing value for the day, or, on days when no closing value has been reported at halfway between the most recent bid and ask quotes. Securities that are primarily traded on foreign exchanges are valued at the official closing price or the last sales price on the exchange where the securities are principally traded with these values then translated into U.S. dollars at the current exchange rate, unless these securities are fair valued as discussed below.
 
  •  Securities for which no quoted value is available: The Board has adopted procedures to fair value the fund’s securities when market prices are not “readily available” or are unreliable. For example, a fund may fair value a security when it is de-listed or its trading is halted or suspended; when a security’s primary pricing source is unable or unwilling to provide a price; or when a security’s primary trading market is closed during regular market hours. The fund makes fair value determinations in good faith in accordance with the fund’s valuation procedures. The Pricing Committee considers a number of factors, including unobservable market inputs when arriving at fair value. The Pricing Committee may employ techniques such as the review of related or comparable assets or liabilities, related market activities, recent transactions, market multiples, book values, transactional back-testing, disposition analysis and other relevant information. The Pricing Committee regularly reviews these inputs and assumptions to calibrate the valuations. The Board convenes on a regular basis to review fair value determinations made by the fund pursuant to the procedures.
 
  •  Bonds and notes: valued at halfway between the most recent bid and asked quotes or, if such quotes are unavailable, at prices for securities of comparable maturity, credit quality and type. Valuations for bonds and notes are provided by an independent bond-pricing service.
 
  •  Short-term securities (60 days or less to maturity): valued at amortized cost, which approximates market value.
 
  •  Underlying funds: valued at their respective net asset values.
 
In accordance with the authoritative guidance on fair value measurements and disclosures under generally accepted accounting principles in the United States of America (GAAP), the fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If the fund determines that either the volume and/or level of activity for an asset or liability has significantly decreased (from normal conditions for that asset or liability) or price quotations or observable inputs are not associated with orderly transactions, increased analysis and management judgment will be required to estimate fair value.
 
 
 
 13

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The three levels of the fair value hierarchy are as follows:
 
  •  Level 1 — quoted prices in active markets for identical securities — Investments whose values are based on quoted market prices in active markets, and whose values are therefore classified as Level 1 prices, include active listed equities.
 
  •  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.
 
  •  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.
 
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 2012:
 
                                 
    Quoted Prices in
 		      Significant
 		   
    Active Markets for
 		  Significant Other
 		  Unobservable
 		   
    Identical Assets
 		  Observable Inputs
 		  Inputs
 		   
Description
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
Total
 
Common Stock1
    $481,344,876       $—       $—       $481,344,876  
China1
    108,232,339       —       —       108,232,339  
Capital Goods
    5,312,846       —       527,426       5,840,272  
Pakistan1
    —       —       182,208       182,208  
Corporate Bonds1
    —       275       —       275  
Preferred Stock1
    40,806,525       —       —       40,806,525  
Rights1
    —       —       26,325       26,325  
Other Investment Company1
    1,907,097       —       —       1,907,097  
                                 
Total
    $637,603,683       $275       $735,959       $638,339,917  
                                 
Other Financial Instruments
                               
Collateral Invested for Securities on Loan
    $4,739,574       $—       $—       $4,739,574  
 
     
1
  As categorized in Portfolio Holdings.
 
 
 
14 

 

 
 Schwab Emerging Markets Equity ETF
 

 
Portfolio Holdings (Unaudited) continued
 
The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:
 
                                                                 
    Balance
 		      Change in
 		                  Balance
    as of
 		  Realized
 		  Unrealized
 		          Gross
 		  Gross
 		  as of
    August 31,
 		  Gains
 		  Gains
 		  Gross
 		  Gross
 		  Transfers
 		  Transfers
 		  November 30,
Investments in Securities
 
2012
 
(Losses)
 
(Losses)
 
Purchases
 
Sales
 
in
 
out
 
2012
 
Common Stock
                                                               
China
    $—       $—       ($3,880 )     $68,076       $—       $463,230       $—       $527,426  
Pakistan
    —       —       4,493       —       —       177,715       —       182,208  
Rights
                                                               
Chile
    —       —       731       —       —       —       —       731  
Thailand
    23,654       —       1,940       —       —       —       —       25,594  
                                                                 
Total
    $23,654       $—       $3,284       $68,076       $—       $640,945       $—       $735,959  
                                                                 
 
The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were transfers in and out of Level 3 from Level 1 due to the result of fair valued securities for which no quoted value was available. There were no transfers between Level 1 and Level 2 for the period ended November 30, 2012.
 
REG56692NOV12
 
 
 
 15

 

Item 2. Controls and Procedures.
(a)   Based on their evaluation of Registrant’s disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant’s Chief Executive Officer, Marie Chandoha and Registrant’s Principal Financial Officer, George Pereira, have concluded that Registrant’s disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant’s officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above.
 
(b)   During Registrant’s last fiscal quarter, there have been no changes in Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Act (17 CFR 270.30a-3(d)) that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant’s internal control over financial reporting.
Item 3. Exhibits.
Separate certifications for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)), are attached.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant ) Schwab Strategic Trust
         
By:
  /s/ Marie Chandoha
 
Marie Chandoha 		   
 
  Chief Executive Officer    
 
        
Date:
  1/24/2013    
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
         
By:
  /s/ Marie Chandoha
 
Marie Chandoha 		   
 
  Chief Executive Officer    
 
        
Date:
  1/24/2013    
 
        
By:
  /s/ George Pereira
 
George Pereira 		   
 
  Principal Financial Officer    
 
        
Date:
  1/24/2013