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: May 31, 2014

Item 1. Schedule of Investments.

Schwab Strategic Trust
Schwab International Equity ETF™

Portfolio Holdings as of May 31, 2014 (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	.8%	Common Stock		2,032,774,526		2,351,543,701
	0	.1%	Other Investment Companies		1,624,520		1,823,424
	0	.4%	Preferred Stock		8,267,809		11,380,860
	0	.0%	Rights		—		17,230
	0	.0%	Short-Term Investment		6,000		6,000
	99	.3%	Total Investments		2,042,672,855		2,364,771,215
	0	.1%	Collateral Invested for Securities on Loan		1,477,727		1,477,727
	0	.6%	Other Assets and Liabilities, Net				14,065,702
	100	.0%	Net Assets				2,380,314,644

	Number		Value
Security	of Shares		($)
Common Stock 98.8% of net assets
Australia 6.9%
Banks 2.4%
Australia & New Zealand Banking Group Ltd.		401,310		12,508,490
Bank of Queensland Ltd.		44,996		502,533
Bendigo & Adelaide Bank Ltd.		69,090		754,263
Commonwealth Bank of Australia		240,368		18,252,541
National Australia Bank Ltd.		335,160		10,446,651
Westpac Banking Corp.		448,350		14,362,756
				56,827,234
Capital Goods 0.0%
GWA Group Ltd.		128,625		311,249
Leighton Holdings Ltd.		11,760		221,418
				532,667
Commercial & Professional Services 0.2%
ALS Ltd.		35,280		293,874
Brambles Ltd.		269,146		2,409,754
Downer EDI Ltd.		102,165		506,803
Recall Holdings Ltd. *		53,799		238,337
Seek Ltd.		41,895		660,129
				4,108,897
Consumer Services 0.2%
Aristocrat Leisure Ltd.		44,835		221,575
Crown Resorts Ltd.		99,960		1,512,713
Echo Entertainment Group Ltd.		119,070		314,725
Flight Centre Travel Group Ltd.		10,290		476,738
Tabcorp Holdings Ltd.		58,460		189,342
Tatts Group Ltd.		199,185		563,560
				3,278,653
Diversified Financials 0.2%
ASX Ltd.		36,370		1,217,907
Challenger Ltd.		69,090		456,545
IOOF Holdings Ltd.		62,475		493,655
Macquarie Group Ltd.		48,548		2,712,373
Perpetual Ltd.		3,675		160,961
				5,041,441
Energy 0.4%
Caltex Australia Ltd.		8,820		183,466
Oil Search Ltd.		191,355		1,679,428
Origin Energy Ltd.		169,931		2,386,556
Santos Ltd.		132,300		1,787,871
Whitehaven Coal Ltd. *		102,900		142,217
Woodside Petroleum Ltd.		89,670		3,519,334
WorleyParsons Ltd.		38,955		582,262
				10,281,134
Food & Staples Retailing 0.6%
Wesfarmers Ltd.		166,920		6,736,082
Woolworths Ltd.		194,775		6,803,330
				13,539,412
Food, Beverage & Tobacco 0.0%
Coca-Cola Amatil Ltd.		88,200		776,550
Health Care Equipment & Services 0.1%
Ansell Ltd.		14,700		263,365
Cochlear Ltd.		5,145		286,685
Ramsay Health Care Ltd.		22,050		971,714
Sonic Healthcare Ltd.		69,825		1,150,904
				2,672,668
Insurance 0.3%
AMP Ltd.		418,995		2,062,881
Insurance Australia Group Ltd.		377,790		2,092,075
QBE Insurance Group Ltd.		141,855		1,502,438
Suncorp Group Ltd.		186,831		2,321,347
				7,978,741
Materials 1.3%
Adelaide Brighton Ltd.		83,055		260,499
Alumina Ltd. *		289,590		384,068
Amcor Ltd.		250,635		2,474,952
Arrium Ltd.		245,640		206,898
BHP Billiton Ltd.		444,090		15,296,773
BlueScope Steel Ltd. *		88,935		483,387
Boral Ltd.		109,590		540,576
CSR Ltd.		173,460		553,737
DuluxGroup Ltd.		50,715		260,074
Fortescue Metals Group Ltd.		274,890		1,128,255
Gunns Ltd. *(b)(c)		346,320		—
Iluka Resources Ltd.		88,935		720,115
Incitec Pivot Ltd.		285,180		729,897
James Hardie Industries plc CDI		36,085		481,263
Newcrest Mining Ltd. *		101,430		919,465

1

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Nufarm Ltd.		36,789		146,888
Orica Ltd.		50,715		927,961
Orora Ltd.		262,878		340,078
OZ Minerals Ltd.		74,235		300,544
Rio Tinto Ltd.		76,769		4,236,921
Sims Metal Management Ltd. *		27,930		251,106
				30,643,457
Media 0.0%
Fairfax Media Ltd.		414,803		393,779
REA Group Ltd.		5,145		217,970
Seven West Media Ltd.		96,285		166,679
				778,428
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
CSL Ltd.		76,440		5,021,964
Real Estate 0.5%
CFS Retail Property Trust Group		436,590		832,986
Dexus Property Group		1,269,389		1,317,284
Goodman Group		132,479		627,588
GPT Group		312,447		1,134,098
Lend Lease Group		103,676		1,293,948
Mirvac Group		475,545		801,088
Stockland		429,975		1,560,693
Westfield Group		296,940		2,957,074
Westfield Retail Trust		377,790		1,121,633
				11,646,392
Retailing 0.0%
Harvey Norman Holdings Ltd.		99,225		295,516
Software & Services 0.1%
Computershare Ltd.		94,080		1,114,642
Telecommunication Services 0.1%
Telstra Corp., Ltd.		540,960		2,688,538
TPG Telecom Ltd.		26,460		146,526
				2,835,064
Transportation 0.2%
Asciano Ltd.		148,470		773,814
Aurizon Holdings Ltd.		264,984		1,218,306
Macquarie Atlas Roads Group		136,710		419,879
Qantas Airways Ltd. *		2,205		2,883
Sydney Airport		64,810		264,799
Toll Holdings Ltd.		53,655		270,657
Transurban Group		330,462		2,285,178
				5,235,516
Utilities 0.1%
AGL Energy Ltd.		108,045		1,548,585
APA Group		52,185		339,494
Envestra Ltd.		226,380		287,595
SP AusNet		169,050		217,122
				2,392,796
				165,001,172
Austria 0.3%
Banks 0.1%
Erste Group Bank AG		43,010		1,495,991
Raiffeisen Bank International AG		8,135		272,742
				1,768,733
Capital Goods 0.0%
Andritz AG		6,910		412,002
Strabag SE		8,085		239,348
				651,350
Energy 0.1%
OMV AG		26,460		1,097,262
Insurance 0.0%
Vienna Insurance Group AG Wiener Versicherung Gruppe		6,615		357,991
Materials 0.1%
Voestalpine AG		27,195		1,259,663
Real Estate 0.0%
BUWOG AG *		6,713		125,953
IMMOFINANZ AG *		135,296		481,484
				607,437
Telecommunication Services 0.0%
Telekom Austria AG		17,132		166,752
				5,909,188
Belgium 1.0%
Banks 0.1%
KBC Groep N.V. *		42,877		2,555,037
Diversified Financials 0.1%
Groupe Bruxelles Lambert S.A.		13,230		1,378,889
Food & Staples Retailing 0.1%
Colruyt S.A.		14,700		824,521
Delhaize Group S.A.		6,615		470,822
				1,295,343
Food, Beverage & Tobacco 0.4%
Anheuser-Busch InBev N.V.		113,433		12,461,746
Insurance 0.1%
Ageas		41,344		1,739,869
Materials 0.1%
Solvay S.A.		5,145		832,996
Umicore S.A.		16,170		778,445
				1,611,441
Media 0.0%
Telenet Group Holding N.V. *		11,025		661,192
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
UCB S.A.		21,315		1,700,914
Telecommunication Services 0.0%
Belgacom S.A.		28,665		950,686
				24,355,117
Canada 7.8%
Automobiles & Components 0.1%
Magna International, Inc.		33,095		3,381,277
Banks 2.2%
Bank of Montreal		89,670		6,299,238
Bank of Nova Scotia		166,895		10,702,122
Canadian Imperial Bank of Commerce		63,280		5,574,771
National Bank of Canada		30,870		1,293,535
Royal Bank of Canada		214,660		14,755,466

2 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
The Toronto-Dominion Bank		294,000		14,555,822
				53,180,954
Capital Goods 0.1%
Bombardier, Inc., B Shares		257,250		874,202
Finning International, Inc.		36,900		990,932
SNC-Lavalin Group, Inc.		8,825		425,707
				2,290,841
Consumer Services 0.0%
Tim Hortons, Inc.		16,220		877,136
Diversified Financials 0.1%
CI Financial Corp.		29,400		941,147
IGM Financial, Inc.		20,588		972,282
				1,913,429
Energy 2.0%
ARC Resources Ltd.		23,520		676,889
Cameco Corp.		41,940		837,371
Canadian Natural Resources Ltd.		158,836		6,455,249
Canadian Oil Sands Ltd.		73,500		1,543,984
Cenovus Energy, Inc.		100,942		2,999,860
Crescent Point Energy Corp.		57,717		2,362,684
Enbridge, Inc.		142,590		6,766,738
Encana Corp.		112,738		2,621,572
Husky Energy, Inc.		67,620		2,277,353
Imperial Oil Ltd.		55,860		2,746,572
MEG Energy Corp. *		11,760		409,816
Pacific Rubiales Energy Corp.		33,110		646,131
Pembina Pipeline Corp.		38,672		1,524,657
Penn West Petroleum Ltd.		73,500		681,627
Suncor Energy, Inc.		204,683		7,866,116
Talisman Energy, Inc.		147,000		1,516,232
TransCanada Corp.		104,532		4,859,580
				46,792,431
Food & Staples Retailing 0.1%
Alimentation Couche-Tard, Inc., B Shares		33,570		910,163
George Weston Ltd.		5,968		434,196
Loblaw Cos. Ltd.		37,893		1,594,797
Metro, Inc.		12,570		775,257
				3,714,413
Food, Beverage & Tobacco 0.1%
Saputo, Inc.		22,926		1,237,879
Health Care Equipment & Services 0.1%
Catamaran Corp. *		27,210		1,197,055
Insurance 0.6%
Fairfax Financial Holdings Ltd.		1,410		634,081
Great-West Lifeco, Inc.		68,355		1,828,717
Intact Financial Corp.		4,576		301,738
Manulife Financial Corp.		262,427		4,797,326
Power Corp. of Canada		73,500		1,975,162
Power Financial Corp.		55,125		1,657,532
Sun Life Financial, Inc.		73,500		2,484,183
				13,678,739
Materials 0.9%
Agnico Eagle Mines Ltd.		28,694		871,773
Agrium, Inc.		19,396		1,739,093
Barrick Gold Corp.		182,280		2,954,486
Eldorado Gold Corp.		110,250		631,538
First Quantum Minerals Ltd.		86,070		1,812,793
Franco-Nevada Corp.		26,460		1,225,954
Goldcorp, Inc.		113,437		2,666,033
Kinross Gold Corp. *		171,566		644,646
Potash Corp. of Saskatchewan, Inc.		125,220		4,537,834
Silver Wheaton Corp.		50,774		1,053,028
Teck Resources Ltd., Class B		80,406		1,789,762
Turquoise Hill Resources Ltd. *		96,285		342,276
Yamana Gold, Inc.		113,930		848,822
				21,118,038
Media 0.2%
Shaw Communications, Inc., B Shares		73,500		1,826,924
Thomson Reuters Corp.		73,500		2,544,426
				4,371,350
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Valeant Pharmaceuticals International, Inc. *		45,389		5,949,874
Real Estate 0.2%
Brookfield Asset Management, Inc., Class A		87,996		3,776,409
Retailing 0.0%
Canadian Tire Corp. Ltd., Class A		11,760		1,132,733
Software & Services 0.1%
CGI Group, Inc., Class A *		47,890		1,627,426
Technology Hardware & Equipment 0.0%
BlackBerry Ltd. *		77,484		590,130
Telecommunication Services 0.2%
BCE, Inc.		58,900		2,703,482
Rogers Communications, Inc., B Shares		63,712		2,571,129
				5,274,611
Transportation 0.5%
Canadian National Railway Co.		114,660		6,943,907
Canadian Pacific Railway Ltd.		24,528		4,099,408
				11,043,315
Utilities 0.1%
Canadian Utilities Ltd., Class A		33,075		1,195,555
Fortis, Inc.		34,847		1,044,271
				2,239,826
				185,387,866
Denmark 1.3%
Banks 0.2%
Danske Bank A/S		133,770		3,764,104
Capital Goods 0.1%
Rockwool International A/S, B Shares		2,205		439,440
Vestas Wind Systems A/S *		32,340		1,731,312
				2,170,752
Consumer Durables & Apparel 0.0%
Pandora A/S		14,700		1,086,370
Food, Beverage & Tobacco 0.1%
Carlsberg A/S, B Shares		19,845		2,064,561

3

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Health Care Equipment & Services 0.1%
Coloplast A/S, Class B		18,400		1,587,904
William Demant Holding A/S *		4,410		396,302
				1,984,206
Materials 0.1%
Chr Hansen Holding A/S		13,230		562,402
Novozymes A/S, B Shares		42,630		2,085,767
				2,648,169
Pharmaceuticals, Biotechnology & Life Sciences 0.5%
H. Lundbeck A/S		5,145		138,659
Novo Nordisk A/S, B Shares		286,675		12,149,755
				12,288,414
Telecommunication Services 0.0%
TDC A/S		56,240		546,528
Transportation 0.2%
AP Moller - Maersk A/S, A Shares		250		618,446
AP Moller - Maersk A/S, B Shares		829		2,161,416
DSV A/S		36,015		1,201,082
				3,980,944
				30,534,048
Finland 0.8%
Automobiles & Components 0.0%
Nokian Renkaat Oyj		20,580		872,803
Capital Goods 0.2%
Kone Oyj, B Shares		60,524		2,494,159
Metso Oyj		6,660		259,187
Valmet Corp.		21,315		237,628
Wartsila Oyj Abp		32,340		1,746,648
				4,737,622
Energy 0.0%
Neste Oil Oyj		11,100		227,501
Food & Staples Retailing 0.0%
Kesko Oyj, B Shares		8,820		390,908
Insurance 0.2%
Sampo Oyj, A Shares		67,655		3,413,944
Materials 0.1%
Stora Enso Oyj, R Shares		113,190		1,160,718
UPM-Kymmene Oyj		87,465		1,540,814
				2,701,532
Technology Hardware & Equipment 0.2%
Nokia Oyj *		550,073		4,447,319
Utilities 0.1%
Fortum Oyj		55,210		1,347,776
				18,139,405
France 8.4%
Automobiles & Components 0.3%
Cie Generale des Etablissements Michelin		22,897		2,824,468
Peugeot S.A. *		59,323		840,253
Renault S.A.		24,990		2,354,954
Valeo S.A.		11,760		1,580,641
				7,600,316
Banks 0.8%
BNP Paribas S.A.		147,735		10,355,775
Credit Agricole S.A.		159,495		2,490,878
Natixis		49,980		341,001
Societe Generale S.A.		103,635		5,976,914
				19,164,568
Capital Goods 1.4%
Airbus Group N.V.		83,055		5,962,436
Alstom S.A.		36,750		1,454,270
Bouygues S.A.		19,845		922,193
Compagnie de Saint-Gobain		67,620		3,856,463
Eiffage S.A.		2,940		209,134
Legrand S.A.		41,509		2,630,131
Rexel S.A.		30,870		738,428
Safran S.A.		45,570		3,095,759
Schneider Electric S.A.		80,244		7,564,053
Thales S.A.		11,025		660,589
Vallourec S.A.		17,640		960,420
Vinci S.A.		65,415		4,846,931
Zodiac Aerospace		29,400		1,046,272
				33,947,079
Commercial & Professional Services 0.1%
Bureau Veritas S.A.		44,100		1,331,108
Edenred		29,400		922,509
Societe BIC S.A.		6,108		798,962
				3,052,579
Consumer Durables & Apparel 0.5%
Christian Dior S.A.		8,820		1,847,424
Hermes International		1,470		521,531
Kering		11,780		2,605,661
LVMH Moet Hennessy Louis Vuitton S.A.		35,295		7,029,217
				12,003,833
Consumer Services 0.1%
Accor S.A.		33,075		1,751,818
Sodexo		13,250		1,425,451
				3,177,269
Diversified Financials 0.1%
Eurazeo S.A.		6,667		575,869
Wendel S.A.		5,145		777,884
				1,353,753
Energy 0.9%
Technip S.A.		16,170		1,738,263
Total S.A.		289,590		20,342,848
				22,081,111
Food & Staples Retailing 0.2%
Carrefour S.A.		91,140		3,316,818
Casino Guichard Perrachon S.A.		9,555		1,231,596
				4,548,414
Food, Beverage & Tobacco 0.4%
Danone S.A.		79,380		5,917,414
Pernod-Ricard S.A.		30,905		3,793,321
				9,710,735
Health Care Equipment & Services 0.2%
BioMerieux		2,940		332,817

4 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Essilor International S.A.		31,734		3,336,902
				3,669,719
Household & Personal Products 0.2%
L’Oreal S.A.		32,340		5,648,585
Insurance 0.3%
AXA S.A.		282,975		6,992,881
CNP Assurances		19,110		412,531
SCOR SE		20,580		719,192
				8,124,604
Materials 0.5%
Air Liquide S.A.		47,040		6,858,537
Arkema S.A.		7,350		752,309
Imerys S.A.		5,145		431,557
Lafarge S.A.		28,665		2,478,708
				10,521,111
Media 0.2%
Eutelsat Communications S.A.		18,375		644,016
JCDecaux S.A.		8,085		322,477
Lagardere S.C.A.		19,110		666,647
Publicis Groupe S.A.		19,845		1,713,591
SES S.A.		49,245		1,790,808
Societe Television Francaise 1		23,520		419,953
				5,557,492
Pharmaceuticals, Biotechnology & Life Sciences 0.8%
Sanofi		168,315		18,015,655
Real Estate 0.1%
Fonciere Des Regions		5,145		515,453
Gecina S.A.		3,675		525,042
Klepierre		13,230		642,958
				1,683,453
Semiconductors & Semiconductor Equipment 0.1%
STMicroelectronics N.V.		105,105		1,052,711
Software & Services 0.1%
AtoS		9,555		859,223
Cap Gemini S.A.		21,315		1,551,415
Dassault Systemes S.A.		7,350		933,140
				3,343,778
Technology Hardware & Equipment 0.1%
Alcatel-Lucent *		429,975		1,754,887
Telecommunication Services 0.5%
Iliad S.A.		2,940		940,762
Orange S.A.		277,095		4,637,521
Vivendi S.A. *		194,200		5,098,518
				10,676,801
Transportation 0.1%
Aeroports de Paris		5,880		766,249
Air France-KLM *		24,678		376,648
Bollore S.A.		1,470		943,370
Groupe Eurotunnel S.A. - Reg’d		62,475		826,928
				2,913,195
Utilities 0.4%
Electricite de France		43,365		1,524,019
GDF Suez		191,835		5,362,329
Suez Environnement Co.		55,860		1,123,539
Veolia Environnement S.A.		71,295		1,363,945
				9,373,832
				198,975,480
Germany 7.4%
Automobiles & Components 1.0%
Bayerische Motoren Werke AG		45,307		5,693,344
Continental AG		12,495		2,957,333
Daimler AG - Reg’d		147,040		13,984,854
Volkswagen AG		3,675		969,095
				23,604,626
Banks 0.1%
Commerzbank AG *		160,965		2,557,765
Capital Goods 0.8%
Brenntag AG		1,470		274,907
GEA Group AG		31,605		1,360,861
Hochtief AG		9,555		870,305
MAN SE		11,080		1,385,374
OSRAM Licht AG *		12,495		634,688
Siemens AG - Reg’d		114,660		15,248,531
				19,774,666
Commercial & Professional Services 0.0%
Bilfinger SE		5,145		606,862
Consumer Durables & Apparel 0.2%
adidas AG		35,280		3,790,650
Puma SE		1,470		429,260
				4,219,910
Diversified Financials 0.3%
Deutsche Bank AG - Reg’d		147,325		5,973,678
Deutsche Boerse AG		28,695		2,192,724
				8,166,402
Food & Staples Retailing 0.1%
Metro AG *		29,400		1,228,407
Food, Beverage & Tobacco 0.0%
Suedzucker AG		5,145		104,607
Health Care Equipment & Services 0.3%
Celesio AG		12,495		444,836
Fresenius Medical Care AG & Co. KGaA		34,545		2,290,926
Fresenius SE & Co. KGaA		20,580		3,073,625
				5,809,387
Household & Personal Products 0.1%
Beiersdorf AG		11,760		1,188,770
Henkel AG & Co. KGaA		21,315		2,163,663
				3,352,433
Insurance 0.8%
Allianz SE - Reg’d		66,150		11,228,969
Hannover Rueck SE		9,555		850,618
Muenchener Rueckversicherungs AG - Reg’d		27,215		6,038,353
				18,117,940
Materials 1.2%
BASF SE		137,445		15,842,404
Fuchs Petrolub SE		3,675		333,329
HeidelbergCement AG		30,870		2,661,374

5

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
K+S AG		29,408		1,023,282
LANXESS AG		11,760		837,017
Linde AG		28,665		5,994,350
ThyssenKrupp AG *		69,730		2,096,157
Wacker Chemie AG		2,940		347,781
				29,135,694
Media 0.1%
Axel Springer SE		8,820		568,670
Kabel Deutschland Holding AG		5,915		842,645
ProSiebenSat.1 Media AG - Reg’d		19,110		870,566
Sky Deutschland AG *		52,185		487,355
				2,769,236
Pharmaceuticals, Biotechnology & Life Sciences 0.8%
Bayer AG - Reg’d		121,315		17,563,843
Merck KGaA		9,555		1,642,823
QIAGEN N.V. *		34,545		793,339
				20,000,005
Real Estate 0.0%
Deutsche Wohnen AG *		33,622		727,181
Retailing 0.0%
Fielmann AG		2,205		316,228
Semiconductors & Semiconductor Equipment 0.1%
Infineon Technologies AG		171,255		2,126,310
Software & Services 0.5%
SAP AG		131,779		10,098,641
Software AG		12,495		481,579
United Internet AG - Reg’d		14,207		657,288
				11,237,508
Telecommunication Services 0.4%
Deutsche Telekom AG - Reg’d		474,075		7,973,034
Telefonica Deutschland Holding AG *		28,860		224,314
				8,197,348
Transportation 0.3%
Deutsche Lufthansa AG - Reg’d		33,075		873,314
Deutsche Post AG - Reg’d		129,360		4,803,062
Fraport AG Frankfurt Airport		6,615		508,012
				6,184,388
Utilities 0.3%
E.ON SE		256,318		4,996,306
RWE AG		72,765		2,924,135
				7,920,441
				176,157,344
Greece 0.1%
Banks 0.1%
Alpha Bank AE *		579,607		545,723
National Bank of Greece S.A. *		154,936		553,915
Piraeus Bank S.A. *		292,888		719,389
				1,819,027
Telecommunication Services 0.0%
Hellenic Telecommunications Organization S.A. *		38,631		554,024
				2,373,051
Hong Kong 2.9%
Automobiles & Components 0.0%
Xinyi Glass Holdings Ltd.		456,000		319,961
Banks 0.3%
Bank of East Asia Ltd.		199,600		812,256
BOC Hong Kong Holdings Ltd.		735,000		2,213,641
Hang Seng Bank Ltd.		147,000		2,426,947
Wing Hang Bank Ltd.		13,500		215,570
				5,668,414
Capital Goods 0.2%
Hopewell Holdings Ltd.		367,500		1,277,465
Hutchison Whampoa Ltd.		278,000		3,729,161
Johnson Electric Holdings Ltd.		749,000		651,141
				5,657,767
Consumer Durables & Apparel 0.1%
Li & Fung Ltd.		694,000		1,007,931
Prada S.p.A.		31,200		233,408
Samsonite International S.A.		222,000		697,244
Techtronic Industries Co.		367,500		1,158,962
Yue Yuen Industrial Holdings Ltd.		40,000		123,824
				3,221,369
Consumer Services 0.3%
China Travel International Investment Hong Kong Ltd.		1,470,000		295,784
Galaxy Entertainment Group Ltd.		305,000		2,437,105
Melco International Development Ltd.		81,000		258,057
MGM China Holdings Ltd.		29,200		101,690
Sands China Ltd.		343,100		2,500,358
SJM Holdings Ltd.		228,000		654,331
Wynn Macau Ltd.		294,000		1,222,954
				7,470,279
Diversified Financials 0.2%
Hong Kong Exchanges & Clearing Ltd.		220,500		4,104,006
Energy 0.0%
Brightoil Petroleum Holdings Ltd. *(a)		1,774,000		466,785
Food & Staples Retailing 0.0%
Sun Art Retail Group Ltd. (a)		367,500		431,826
Food, Beverage & Tobacco 0.1%
China Mengniu Dairy Co., Ltd.		174,000		853,959
Tingyi Cayman Islands Holding Corp.		226,000		644,219
Uni-President China Holdings Ltd.		244,000		189,461
Want Want China Holdings Ltd.		954,000		1,331,400
				3,019,039
Insurance 0.4%
AIA Group Ltd.		1,788,200		8,960,663
Materials 0.0%
Huabao International Holdings Ltd.		364,000		169,489
Media 0.0%
Television Broadcasts Ltd.		73,500		463,111
Real Estate 0.7%
Cheung Kong (Holdings) Ltd.		182,000		3,251,279

6 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Great Eagle Holdings Ltd.		50,000		178,319
Hang Lung Properties Ltd.		325,000		1,031,220
Henderson Land Development Co., Ltd.		177,000		1,152,916
Hutchison Harbour Ring Ltd.		2,940,000		219,942
Hysan Development Co., Ltd.		106,000		518,861
New World China Land Ltd.		318,000		264,557
New World Development Co., Ltd.		735,000		843,743
Shui On Land Ltd.		1,102,500		287,252
Sino Land Co., Ltd.		352,000		545,733
Sun Hung Kai Properties Ltd.		230,000		3,144,609
Swire Pacific Ltd., Class A		91,000		1,081,608
Swire Properties Ltd.		294,000		917,689
The Link REIT		367,500		1,957,674
Wharf Holdings Ltd.		203,000		1,437,479
Wheelock & Co., Ltd.		120,000		485,235
				17,318,116
Retailing 0.1%
Chow Tai Fook Jewellery Group Ltd.		298,000		390,520
Esprit Holdings Ltd.		294,000		433,817
L’Occitane International S.A.		39,750		93,825
Parkson Retail Group Ltd.		735,000		217,098
				1,135,260
Semiconductors & Semiconductor Equipment 0.0%
Semiconductor Manufacturing International Corp. *(a)		5,880,000		500,558
Xinyi Solar Holdings Ltd. *		456,000		121,750
				622,308
Technology Hardware & Equipment 0.1%
AAC Technologies Holdings, Inc.		68,000		401,267
VTech Holdings Ltd.		38,900		523,319
				924,586
Telecommunication Services 0.0%
PCCW Ltd.		735,000		401,963
Transportation 0.1%
Kerry Logistics Network Ltd.		32,750		51,958
MTR Corp., Ltd.		367,500		1,391,228
				1,443,186
Utilities 0.3%
Cheung Kong Infrastructure Holdings Ltd.		72,000		491,271
CLP Holdings Ltd.		249,500		2,053,167
Hong Kong & China Gas Co., Ltd.		784,300		1,895,766
Power Assets Holdings Ltd.		202,500		1,763,039
				6,203,243
				68,001,371
Ireland 0.2%
Banks 0.1%
Bank of Ireland *		4,740,750		1,824,256
Food, Beverage & Tobacco 0.1%
Kerry Group plc, A Shares		22,785		1,736,448
Materials 0.0%
Smurfit Kappa Group plc		22,050		532,564
Transportation 0.0%
Ryanair Holdings plc *		56,689		555,564
				4,648,832
Israel 0.5%
Banks 0.1%
Bank Hapoalim B.M.		167,580		977,108
Bank Leumi Le-Israel *		143,325		566,615
First International Bank of Israel Ltd.		19,845		325,474
Israel Discount Bank Ltd., A Shares *		134,511		236,255
Mizrahi Tefahot Bank Ltd.		16,170		219,340
				2,324,792
Energy 0.0%
Delek Group Ltd.		735		311,523
Food, Beverage & Tobacco 0.0%
Osem Investments Ltd.		9,555		218,722
Materials 0.0%
Israel Chemicals Ltd.		74,970		659,468
The Israel Corp., Ltd. *		735		427,921
				1,087,389
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Teva Pharmaceutical Industries Ltd.		139,065		6,971,269
Real Estate 0.0%
Azrieli Group		5,880		191,146
Gazit-Globe Ltd.		11,025		142,757
				333,903
Software & Services 0.0%
NICE Systems Ltd.		7,350		285,704
Telecommunication Services 0.1%
Bezeq The Israeli Telecommunication Corp., Ltd.		388,272		696,497
Cellcom Israel Ltd.		18,375		240,732
Partner Communications Co., Ltd. *		30,870		261,680
				1,198,909
				12,732,211
Italy 2.2%
Automobiles & Components 0.1%
Fiat S.p.A. *		105,105		1,099,322
Pirelli & C. S.p.A.		66,885		1,128,985
				2,228,307
Banks 0.5%
Banco Popolare SC *		25,725		496,708
Intesa Sanpaolo S.p.A.		1,784,580		5,985,598
UniCredit S.p.A.		639,653		5,581,805
Unione di Banche Italiane S.C.p.A.		110,985		1,023,009
				13,087,120
Capital Goods 0.1%
CNH Industrial N.V.		130,095		1,425,495
Finmeccanica S.p.A. *		44,835		368,302

7

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Prysmian S.p.A.		20,017		465,161
				2,258,958
Consumer Durables & Apparel 0.1%
Luxottica Group S.p.A.		30,706		1,755,605
Diversified Financials 0.1%
Exor S.p.A.		20,580		884,597
Mediobanca S.p.A. *		85,995		862,483
				1,747,080
Energy 0.5%
Eni S.p.A.		361,620		9,222,558
Saipem S.p.A. *		44,100		1,150,578
Tenaris S.A.		67,620		1,515,088
				11,888,224
Food, Beverage & Tobacco 0.0%
Parmalat S.p.A.		172,725		590,173
Insurance 0.2%
Assicurazioni Generali S.p.A.		180,810		4,098,092
Mediolanum S.p.A.		18,375		157,839
				4,255,931
Materials 0.0%
Buzzi Unicem S.p.A.		11,760		204,761
Media 0.0%
Mediaset S.p.A. *		122,010		603,023
Telecommunication Services 0.1%
Telecom Italia S.p.A. *		1,612,315		2,004,278
Telecom Italia S.p.A. - RSP		952,560		910,521
				2,914,799
Transportation 0.1%
Atlantia S.p.A.		74,389		2,068,724
Utilities 0.4%
Enel Green Power S.p.A.		74,235		208,470
Enel S.p.A.		1,084,125		6,142,234
Snam S.p.A.		250,635		1,472,670
Terna-Rete Elettrica Nazionale S.p.A.		230,055		1,222,411
				9,045,785
				52,648,490
Japan 18.1%
Automobiles & Components 2.4%
Aisin Seiki Co., Ltd.		25,900		940,592
Bridgestone Corp.		96,500		3,486,501
Daihatsu Motor Co., Ltd.		73,500		1,267,802
Denso Corp.		73,500		3,368,524
Fuji Heavy Industries Ltd.		85,700		2,270,003
Honda Motor Co., Ltd.		261,400		9,153,946
Isuzu Motors Ltd.		152,000		927,731
Koito Manufacturing Co., Ltd.		7,000		166,219
Mazda Motor Corp.		374,000		1,617,377
Mitsubishi Motors Corp.		74,000		753,492
NGK Spark Plug Co., Ltd.		44,000		1,211,735
Nissan Motor Co., Ltd.		367,500		3,319,401
NOK Corp.		73,500		1,351,600
Stanley Electric Co., Ltd.		9,700		230,523
Sumitomo Rubber Industries Ltd.		73,500		1,090,093
Suzuki Motor Corp.		73,500		2,185,242
The Yokohama Rubber Co., Ltd.		18,000		159,222
Toyota Industries Corp.		19,300		897,233
Toyota Motor Corp.		387,170		21,922,319
Yamaha Motor Co., Ltd.		73,500		1,155,831
				57,475,386
Banks 1.8%
Aozora Bank Ltd.		297,000		910,747
Fukuoka Financial Group, Inc.		107,000		463,777
Hokuhoku Financial Group, Inc.		493,000		973,935
Mitsubishi UFJ Financial Group, Inc.		2,140,000		12,051,894
Mizuho Financial Group, Inc.		3,675,000		7,151,703
North Pacific Bank Ltd.		147,000		570,691
Resona Holdings, Inc.		367,500		1,921,569
Seven Bank Ltd.		73,500		273,065
Shinsei Bank Ltd.		351,000		731,358
Sumitomo Mitsui Financial Group, Inc.		197,200		7,956,224
Sumitomo Mitsui Trust Holdings, Inc.		557,000		2,250,007
Suruga Bank Ltd.		40,000		688,781
The 77 Bank Ltd.		48,000		230,223
The Bank of Kyoto Ltd.		83,000		688,506
The Bank of Yokohama Ltd.		162,000		902,786
The Chiba Bank Ltd.		130,000		844,562
The Chugoku Bank Ltd.		10,000		141,825
The Gunma Bank Ltd.		29,000		151,919
The Hachijuni Bank Ltd.		31,000		170,013
The Hiroshima Bank Ltd.		38,000		170,682
The Iyo Bank Ltd.		73,500		689,887
The Joyo Bank Ltd.		137,000		673,252
The Juroku Bank Ltd.		104,000		359,801
The Shiga Bank Ltd.		58,000		319,800
The Shizuoka Bank Ltd.		110,000		1,032,483
Yamaguchi Financial Group, Inc.		16,000		152,381
				42,471,871
Capital Goods 2.7%
Amada Co., Ltd.		21,000		198,555
Asahi Glass Co., Ltd.		143,000		795,499
Chiyoda Corp.		13,000		153,708
COMSYS Holdings Corp.		73,500		1,326,316
Daikin Industries Ltd.		37,700		2,247,290
DMG Mori Seiki Co., Ltd.		12,000		146,248
Ebara Corp.		31,000		187,685
FANUC Corp.		26,690		4,543,425
Fuji Electric Co., Ltd.		49,000		215,274
Furukawa Electric Co., Ltd.		46,000		94,943
Hino Motors Ltd.		14,000		176,264
Hoshizaki Electric Co., Ltd.		4,400		201,956
IHI Corp.		277,000		1,162,504
ITOCHU Corp.		195,300		2,309,164
JGC Corp.		23,000		660,986
JTEKT Corp.		50,100		763,724
Kajima Corp.		39,000		161,757
Kawasaki Heavy Industries Ltd.		302,000		1,136,823
Keihan Electric Railway Co., Ltd.		80,000		327,879
Komatsu Ltd.		147,500		3,213,991
Kubota Corp.		207,000		2,827,952
Kurita Water Industries Ltd.		11,600		251,735
LIXIL Group Corp.		58,200		1,507,268
Makita Corp.		20,400		1,112,782

8 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Marubeni Corp.		243,000		1,657,497
Minebea Co., Ltd.		38,000		394,771
MISUMI Group, Inc.		5,000		132,685
Mitsubishi Corp.		220,500		4,353,870
Mitsubishi Electric Corp.		303,000		3,517,057
Mitsubishi Heavy Industries Ltd.		453,000		2,640,218
Mitsui & Co., Ltd.		296,400		4,492,101
Mitsui Engineering & Shipbuilding Co., Ltd.		92,000		178,132
Nabtesco Corp.		7,500		162,760
NGK Insulators Ltd.		39,000		808,787
Nidec Corp.		29,800		1,733,611
Nippon Sheet Glass Co., Ltd. *		200,000		239,815
NSK Ltd.		70,000		846,233
NTN Corp.		56,000		221,809
Obayashi Corp.		91,000		609,976
Shimizu Corp.		137,000		907,543
SMC Corp.		8,000		2,091,503
Sojitz Corp.		367,500		585,139
Sumitomo Corp.		220,500		2,886,687
Sumitomo Electric Industries Ltd.		147,000		1,976,471
Taisei Corp.		145,000		746,769
The Japan Steel Works Ltd.		26,000		102,216
THK Co., Ltd.		51,300		1,129,916
Toshiba Corp.		735,000		3,012,384
TOTO Ltd.		67,000		847,501
Toyota Tsusho Corp.		73,500		1,946,852
				63,946,031
Commercial & Professional Services 0.2%
Dai Nippon Printing Co., Ltd.		68,000		681,704
Park24 Co., Ltd.		25,000		472,996
Secom Co., Ltd.		34,700		2,113,138
Toppan Printing Co., Ltd.		125,000		926,336
				4,194,174
Consumer Durables & Apparel 0.6%
Asics Corp.		12,100		260,683
Casio Computer Co., Ltd.		12,000		159,811
Haseko Corp.		75,500		546,150
Iida Group Holdings Co., Ltd.		13,500		203,273
Namco Bandai Holdings, Inc.		50,300		1,096,520
Nikon Corp.		73,500		1,164,499
Panasonic Corp.		323,500		3,475,212
Rinnai Corp.		3,600		315,613
Sega Sammy Holdings, Inc.		37,700		724,024
Sekisui Chemical Co., Ltd.		21,000		227,245
Sekisui House Ltd.		91,700		1,206,804
Sharp Corp. *		157,000		444,405
Shimano, Inc.		9,900		1,021,672
Sony Corp.		147,000		2,350,671
Sumitomo Forestry Co., Ltd.		73,500		791,744
Wacoal Holdings Corp.		21,000		213,416
Yamaha Corp.		17,200		267,944
				14,469,686
Consumer Services 0.1%
Benesse Holdings, Inc.		8,600		360,499
Oriental Land Co., Ltd.		10,100		1,682,589
				2,043,088
Diversified Financials 0.5%
Aiful Corp. *		20,000		85,115
Credit Saison Co., Ltd.		47,300		851,209
Daiwa Securities Group, Inc.		255,000		2,057,644
Japan Exchange Group, Inc.		50,000		1,195,636
Mitsubishi UFJ Lease & Finance Co., Ltd.		147,000		793,189
Nomura Holdings, Inc.		514,500		3,382,972
Okasan Securities Group, Inc.		17,000		127,820
ORIX Corp.		195,300		3,098,081
SBI Holdings, Inc.		73,500		837,255
Tokai Tokyo Financial Holdings, Inc.		19,400		132,136
				12,561,057
Energy 0.2%
Cosmo Oil Co., Ltd.		125,000		239,569
Idemitsu Kosan Co., Ltd.		8,400		174,448
Inpex Corp.		147,000		2,120,949
Japan Petroleum Exploration Co.		6,900		286,525
JX Holdings, Inc.		441,000		2,297,214
Showa Shell Sekiyu K.K.		73,500		793,189
				5,911,894
Food & Staples Retailing 0.3%
Aeon Co., Ltd.		147,000		1,772,756
Lawson, Inc.		5,600		402,339
Seven & i Holdings Co., Ltd.		147,000		5,877,399
				8,052,494
Food, Beverage & Tobacco 0.8%
Ajinomoto Co., Inc.		82,000		1,281,439
Asahi Group Holdings Ltd.		73,500		2,072,549
Calbee, Inc.		6,300		177,461
Japan Tobacco, Inc.		165,000		5,585,139
Kewpie Corp.		73,500		1,105,263
Kikkoman Corp.		46,000		924,566
Kirin Holdings Co., Ltd.		115,000		1,626,468
MEIJI Holdings Co., Ltd.		13,100		825,308
Nippon Meat Packers, Inc.		35,000		681,115
Nisshin Seifun Group, Inc.		72,400		841,091
Nissin Foods Holdings Co., Ltd.		17,000		827,068
Sapporo Holdings Ltd.		52,000		218,232
Suntory Beverage & Food Ltd.		20,000		763,674
Toyo Suisan Kaisha Ltd.		7,000		212,934
Yakult Honsha Co., Ltd.		13,000		651,629
Yamazaki Baking Co., Ltd.		20,000		236,081
				18,030,017
Health Care Equipment & Services 0.2%
Alfresa Holdings Corp.		3,600		217,603
M3, Inc.		19,200		298,534
Medipal Holdings Corp.		73,500		1,033,024
Miraca Holdings, Inc.		7,200		338,611
Olympus Corp. *		42,300		1,361,566
Suzuken Co., Ltd.		16,600		587,351
Sysmex Corp.		20,000		701,754
Terumo Corp.		37,000		784,766
				5,323,209
Household & Personal Products 0.3%
Kao Corp.		73,500		2,906,192
Kobayashi Pharmaceutical Co., Ltd.		3,800		244,258
Lion Corp.		48,000		275,512
Pigeon Corp.		4,300		200,113
Shiseido Co., Ltd.		73,500		1,236,016

9

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Unicharm Corp.		18,600		1,126,841
				5,988,932
Insurance 0.5%
MS&AD Insurance Group Holdings, Inc.		73,500		1,740,970
NKSJ Holdings, Inc.		73,500		2,042,931
Sony Financial Holdings, Inc.		31,300		515,898
T&D Holdings, Inc.		147,000		1,914,345
The Dai-ichi Life Insurance Co., Ltd.		147,000		2,178,741
Tokio Marine Holdings, Inc.		98,700		3,119,752
				11,512,637
Materials 1.2%
Air Water, Inc.		9,000		139,053
Asahi Kasei Corp.		175,000		1,307,189
Daicel Corp.		69,000		628,660
Denki Kagaku Kogyo K.K.		38,000		137,815
DIC Corp.		45,000		120,301
Dowa Holdings Co., Ltd.		16,000		141,373
Hitachi Metals Ltd.		50,000		707,651
JFE Holdings, Inc.		76,600		1,453,778
JSR Corp.		73,500		1,234,572
Kaneka Corp.		31,000		193,474
Kansai Paint Co., Ltd.		44,000		691,926
Kobe Steel Ltd.		735,000		1,018,576
Kuraray Co. Ltd.		73,500		882,043
Maruichi Steel Tube Ltd.		4,600		113,028
Mitsubishi Chemical Holdings Corp.		367,500		1,520,640
Mitsubishi Gas Chemical Co., Inc.		31,000		181,287
Mitsubishi Materials Corp.		136,000		415,706
Mitsui Chemicals, Inc.		91,000		226,281
Mitsui Mining & Smelting Co., Ltd.		67,000		163,310
Nippon Kayaku Co., Ltd.		14,000		177,227
Nippon Paint Co., Ltd.		48,000		765,679
Nippon Paper Industries Co., Ltd.		12,100		247,839
Nippon Shokubai Co., Ltd.		15,000		189,002
Nippon Steel & Sumitomo Metal Corp.		1,197,000		3,376,471
Nissan Chemical Industries Ltd.		11,200		169,192
Nitto Denko Corp.		20,100		927,312
Oji Holdings Corp.		121,000		510,187
Rengo Co., Ltd.		31,000		146,857
Shin-Etsu Chemical Co., Ltd.		73,500		4,369,763
Sumitomo Chemical Co., Ltd.		247,000		915,219
Sumitomo Metal Mining Co., Ltd.		65,000		983,193
Sumitomo Osaka Cement Co., Ltd.		50,000		180,353
Taiheiyo Cement Corp.		194,000		732,183
Taiyo Nippon Sanso Corp.		18,000		157,629
Teijin Ltd.		131,000		297,420
Toray Industries, Inc.		265,000		1,687,749
Tosoh Corp.		37,000		176,009
Toyo Seikan Group Holdings Ltd.		73,500		1,082,147
Toyobo Co., Ltd.		109,000		177,837
Ube Industries Ltd.		122,000		200,246
				28,746,177
Media 0.1%
Dentsu, Inc.		28,400		1,120,704
Hakuhodo DY Holdings, Inc.		147,000		1,330,650
Shochiku Co., Ltd.		28,000		239,697
Toho Co., Ltd.		21,800		467,946
				3,158,997
Pharmaceuticals, Biotechnology & Life Sciences 0.9%
Astellas Pharma, Inc.		367,500		4,710,010
Chugai Pharmaceutical Co., Ltd.		45,100		1,206,567
Daiichi Sankyo Co., Ltd.		96,500		1,635,127
Dainippon Sumitomo Pharma Co., Ltd.		36,300		397,447
Eisai Co., Ltd.		49,100		2,009,942
Hisamitsu Pharmaceutical Co., Inc.		7,800		316,615
Kaken Pharmaceutical Co., Ltd.		10,000		199,518
KYORIN Holdings, Inc.		7,400		142,843
Mitsubishi Tanabe Pharma Corp.		9,800		142,552
Ono Pharmaceutical Co., Ltd.		13,200		1,011,942
Otsuka Holdings Co., Ltd.		73,500		2,075,439
Rohto Pharmaceutical Co., Ltd.		20,000		306,846
Santen Pharmaceutical Co., Ltd.		8,300		447,039
Sawai Pharmaceutical Co., Ltd.		3,800		236,041
Shionogi & Co., Ltd.		59,400		1,190,394
Taisho Pharmaceutical Holdings Co., Ltd.		2,600		187,567
Takeda Pharmaceutical Co., Ltd.		122,700		5,555,840
Tsumura & Co.		8,400		188,978
				21,960,707
Real Estate 0.7%
Aeon Mall Co., Ltd.		8,200		206,159
Daito Trust Construction Co., Ltd.		11,900		1,289,474
Daiwa House Industry Co., Ltd.		111,000		2,078,284
Hulic Co., Ltd.		45,500		595,218
Mitsubishi Estate Co., Ltd.		169,711		4,121,636
Mitsui Fudosan Co., Ltd.		109,000		3,450,676
Nomura Real Estate Holdings, Inc.		6,500		125,023
NTT Urban Development Corp.		73,500		736,842
Sumitomo Real Estate Sales Co., Ltd.		10,700		320,753
Sumitomo Realty & Development Co., Ltd.		57,000		2,447,619
Tokyo Tatemono Co., Ltd.		67,000		610,438
Tokyu Fudosan Holdings Corp.		73,500		578,638
				16,560,760
Retailing 0.4%
Aoyama Trading Co., Ltd.		19,100		515,491
Don Quijote Holdings Co., Ltd.		11,100		654,578
Fast Retailing Co., Ltd.		7,500		2,476,043
Isetan Mitsukoshi Holdings Ltd.		113,200		1,480,851
J Front Retailing Co., Ltd.		74,000		531,662
Marui Group Co., Ltd.		73,500		694,221
Nitori Holdings Co., Ltd.		13,000		638,213
Ryohin Keikaku Co., Ltd.		2,800		304,369
Sanrio Co., Ltd.		6,400		172,478
Shimamura Co., Ltd.		2,900		280,181
Start Today Co., Ltd.		5,300		131,894
Takashimaya Co., Ltd.		65,000		638,213
USS Co., Ltd.		73,500		1,203,509
				9,721,703
Semiconductors & Semiconductor Equipment 0.1%
Advantest Corp.		72,400		819,032
Dainippon Screen Manufacturing Co., Ltd.		45,000		192,835
Disco Corp.		4,400		281,960

10 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Rohm Co., Ltd.		13,500		769,571
Tokyo Electron Ltd.		24,400		1,465,990
				3,529,388
Software & Services 0.4%
Dena Co., Ltd.		22,900		299,121
Fujitsu Ltd.		290,000		1,963,831
Gree, Inc.		13,200		120,525
Kakaku.com, Inc.		17,900		313,331
Konami Corp.		24,500		554,558
Nintendo Co., Ltd.		15,800		1,827,766
Nomura Research Institute Ltd.		23,700		795,474
NTT Data Corp.		17,300		629,122
Obic Co., Ltd.		6,400		203,489
Otsuka Corp.		1,500		205,366
Square Enix Holdings Co., Ltd.		6,700		104,374
Trend Micro, Inc.		17,000		526,316
Yahoo Japan Corp.		220,500		1,016,409
				8,559,682
Technology Hardware & Equipment 1.4%
Alps Electric Co., Ltd.		34,300		395,439
Anritsu Corp.		14,500		149,924
Azbil Corp.		7,200		164,034
Brother Industries Ltd.		73,500		1,163,777
Canon, Inc.		165,300		5,423,081
Citizen Holdings Co., Ltd.		32,700		250,686
FUJIFILM Holdings Corp.		73,500		1,898,452
Hirose Electric Co., Ltd.		4,200		601,445
Hitachi Ltd.		660,000		4,436,975
Hoya Corp.		73,500		2,276,264
Ibiden Co., Ltd.		6,600		120,590
Keyence Corp.		6,500		2,526,340
Konica Minolta, Inc.		70,000		602,683
Kyocera Corp.		45,000		2,002,211
Murata Manufacturing Co., Ltd.		34,700		2,940,863
NEC Corp.		446,000		1,376,421
Omron Corp.		32,700		1,227,716
Ricoh Co., Ltd.		99,500		1,217,529
Seiko Epson Corp.		29,200		1,014,517
Shimadzu Corp.		29,000		248,258
TDK Corp.		20,800		888,260
Yaskawa Electric Corp.		44,000		539,270
Yokogawa Electric Corp.		74,500		892,579
				32,357,314
Telecommunication Services 0.9%
KDDI Corp.		78,400		4,664,163
Nippon Telegraph & Telephone Corp.		57,100		3,390,812
NTT DOCOMO, Inc.		220,500		3,662,539
SoftBank Corp.		136,400		9,846,754
				21,564,268
Transportation 0.9%
Central Japan Railway Co.		27,200		3,603,676
East Japan Railway Co.		73,500		5,609,391
Hankyu Hanshin Holdings, Inc.		169,000		938,474
Japan Airlines Co., Ltd.		4,670		243,724
Kawasaki Kisen Kaisha Ltd.		135,000		282,618
Keikyu Corp.		100,000		802,988
Keio Corp.		55,000		398,398
Kintetsu Corp.		332,000		1,164,912
Mitsui OSK Lines Ltd.		211,000		756,941
Nagoya Railroad Co., Ltd.		100,000		352,843
Nippon Express Co., Ltd.		108,000		529,677
Nippon Yusen K.K.		120,000		353,826
Odakyu Electric Railway Co., Ltd.		90,000		809,376
Tobu Railway Co., Ltd.		229,000		1,138,867
Tokyu Corp.		192,000		1,309,627
West Japan Railway Co.		47,400		2,015,822
Yamato Holdings Co., Ltd.		73,500		1,564,706
				21,875,866
Utilities 0.5%
Chubu Electric Power Co., Inc. *		147,000		1,766,976
Electric Power Development Co., Ltd.		11,000		326,503
Hokkaido Electric Power Co., Inc. *		22,400		164,458
Hokuriku Electric Power Co.		16,700		214,690
Kyushu Electric Power Co., Inc. *		73,500		809,081
Osaka Gas Co., Ltd.		281,000		1,118,532
Shikoku Electric Power Co., Inc. *		17,400		224,031
The Chugoku Electric Power Co., Inc.		74,100		984,650
The Kansai Electric Power Co., Inc. *		147,000		1,356,656
Toho Gas Co., Ltd.		135,000		676,692
Tohoku Electric Power Co., Inc.		73,500		780,908
Tokyo Electric Power Co., Inc. *		220,500		895,046
Tokyo Gas Co., Ltd.		352,000		1,992,747
				11,310,970
				431,326,308
Netherlands 2.4%
Capital Goods 0.2%
Koninklijke Boskalis Westminster N.V.		5,880		335,224
Koninklijke Philips N.V.		163,170		5,158,887
OCI N.V. *		9,555		366,245
				5,860,356
Commercial & Professional Services 0.1%
Randstad Holding N.V.		21,315		1,241,365
Diversified Financials 0.3%
ING Groep N.V. CVA *		534,345		7,491,922
Energy 0.1%
Fugro N.V. CVA		12,495		721,644
Koninklijke Vopak N.V.		15,754		803,455
				1,525,099
Food & Staples Retailing 0.1%
Koninklijke Ahold N.V.		96,789		1,760,540
Food, Beverage & Tobacco 0.6%
Heineken Holding N.V.		16,170		1,068,156
Heineken N.V.		40,425		2,852,425
Unilever N.V. CVA		237,450		10,290,638
				14,211,219
Insurance 0.1%
Aegon N.V.		296,205		2,572,244
Materials 0.2%
Akzo Nobel N.V.		33,810		2,536,527
ArcelorMittal		145,530		2,224,130

11

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Koninklijke DSM N.V.		27,195		1,963,064
				6,723,721
Media 0.1%
Reed Elsevier N.V.		102,165		2,289,798
Wolters Kluwer N.V.		44,100		1,321,480
				3,611,278
Real Estate 0.2%
Unibail-Rodamco SE		16,170		4,525,487
Semiconductors & Semiconductor Equipment 0.2%
ASML Holding N.V.		52,920		4,546,469
Software & Services 0.1%
Gemalto N.V.		11,025		1,198,268
Telecommunication Services 0.1%
Koninklijke KPN N.V. *		443,548		1,640,816
Ziggo N.V.		14,700		693,737
				2,334,553
Transportation 0.0%
TNT Express N.V.		66,150		591,777
				58,194,298
New Zealand 0.2%
Consumer Services 0.0%
SKYCITY Entertainment Group Ltd.		136,710		464,322
Health Care Equipment & Services 0.0%
Ryman Healthcare Ltd.		28,665		202,504
Materials 0.0%
Fletcher Building Ltd.		76,440		580,901
Real Estate 0.0%
Kiwi Income Property Trust		374,850		381,942
Software & Services 0.0%
Xero Ltd. *		10,290		279,592
Telecommunication Services 0.1%
Telecom Corp. of New Zealand Ltd.		292,530		668,161
Transportation 0.1%
Auckland International Airport Ltd.		383,670		1,257,488
Utilities 0.0%
Contact Energy Ltd.		99,912		462,352
				4,297,262
Norway 0.7%
Banks 0.1%
DNB A.S.A.		170,520		3,205,725
Energy 0.3%
Aker Solutions A.S.A.		20,615		362,363
Seadrill Ltd.		51,450		1,941,379
Statoil A.S.A.		144,060		4,418,145
Subsea 7 S.A.		50,715		1,014,555
				7,736,442
Food, Beverage & Tobacco 0.1%
Orkla A.S.A.		147,000		1,301,799
Insurance 0.0%
Gjensidige Forsikring A.S.A.		14,700		271,680
Materials 0.1%
Norsk Hydro A.S.A.		123,480		671,817
Yara International A.S.A.		26,152		1,195,195
				1,867,012
Media 0.0%
Schibsted A.S.A.		2,960		173,433
Telecommunication Services 0.1%
Telenor A.S.A.		94,815		2,249,148
				16,805,239
Portugal 0.2%
Banks 0.0%
Banco Espirito Santo S.A. - Reg’d *		363,825		493,975
Energy 0.1%
Galp Energia, SGPS, S.A.		55,860		990,909
Food & Staples Retailing 0.0%
Jeronimo Martins, SGPS, S.A.		49,980		854,890
Telecommunication Services 0.0%
Portugal Telecom, SGPS, S.A. - Reg’d		27,930		100,463
Utilities 0.1%
EDP - Energias de Portugal S.A.		372,645		1,764,471
				4,204,708
Republic of Korea 3.8%
Automobiles & Components 0.5%
Hankook Tire Co., Ltd.		7,937		470,681
Hyundai Mobis		10,316		2,912,182
Hyundai Motor Co.		21,824		4,802,478
Hyundai Wia Corp.		2,062		363,811
Kia Motors Corp.		44,164		2,545,426
Mando Corp.		1,575		172,135
				11,266,713
Banks 0.4%
BS Financial Group, Inc.		24,800		378,004
Hana Financial Group, Inc.		35,600		1,292,864
KB Financial Group, Inc. ADR		73,500		2,500,470
KJB Financial Group Co., Ltd. *		1,977		22,092
KNB Financial Group Co., Ltd. *		3,021		41,160
Shinhan Financial Group Co., Ltd. ADR		86,858		3,810,461
Woori Finance Holdings Co., Ltd. *		26,052		306,434
				8,351,485
Capital Goods 0.4%
CJ Corp.		1,000		139,679
Daelim Industrial Co., Ltd.		1,800		142,207
Daewoo Engineering & Construction Co., Ltd. *		75,000		613,850
Daewoo International Corp.		5,027		158,664
Daewoo Shipbuilding & Marine Engineering Co., Ltd.		15,280		402,145
Doosan Corp.		1,746		218,207
Doosan Heavy Industries & Construction Co., Ltd.		14,480		476,185
Doosan Infracore Co., Ltd. *		20,100		241,350

12 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Hyundai Development Co-Engineering & Construction		6,700		187,826
Hyundai Engineering & Construction Co., Ltd.		20,409		1,068,262
Hyundai Heavy Industries Co., Ltd.		7,964		1,444,168
KCC Corp.		1,332		765,097
LG Corp.		13,525		804,712
LG Hausys Ltd.		1,709		320,794
Neo Holdings Co., Ltd. *(b)(c)		1,746		—
Samsung C&T Corp.		17,316		1,239,039
Samsung Engineering Co., Ltd. *		4,020		321,143
Samsung Heavy Industries Co., Ltd.		23,970		661,395
Samsung Techwin Co., Ltd.		4,690		262,956
SK Holdings Co., Ltd.		3,220		580,749
				10,048,428
Commercial & Professional Services 0.0%
S-1 Corp.		6,932		540,182
Consumer Durables & Apparel 0.1%
Coway Co., Ltd.		10,500		883,062
LG Electronics, Inc.		14,304		1,022,115
				1,905,177
Consumer Services 0.0%
Kangwon Land, Inc.		24,840		741,402
Diversified Financials 0.0%
Daewoo Securities Co., Ltd. *		53,600		456,562
Samsung Card Co., Ltd.		6,960		256,173
				712,735
Energy 0.0%
SK Innovation Co., Ltd.		9,562		998,190
Food & Staples Retailing 0.0%
E-Mart Co., Ltd.		3,079		706,220
Food, Beverage & Tobacco 0.1%
CJ CheilJedang Corp.		1,700		549,892
KT&G Corp.		18,630		1,515,674
Orion Corp.		464		381,588
				2,447,154
Household & Personal Products 0.1%
Amorepacific Corp.		704		999,898
AMOREPACIFIC Group		700		470,692
LG Household & Health Care Ltd.		1,120		559,890
				2,030,480
Insurance 0.2%
Dongbu Insurance Co., Ltd.		12,977		733,947
Hanwha Life Insurance Co., Ltd.		20,000		127,034
Hyundai Marine & Fire Insurance Co., Ltd.		6,000		170,261
Samsung Fire & Marine Insurance Co., Ltd.		6,700		1,707,508
Samsung Life Insurance Co., Ltd.		13,416		1,313,721
				4,052,471
Materials 0.3%
Hanwha Corp.		11,020		292,729
Hyosung Corp.		7,728		517,372
Hyundai Steel Co.		6,037		407,122
Korea Zinc Co., Ltd.		874		318,262
Kumho Petro Chemical Co., Ltd.		2,680		213,307
LG Chem Ltd.		4,825		1,229,661
Lotte Chemical Corp.		1,026		161,915
OCI Co., Ltd. *		2,000		343,070
POSCO ADR		57,518		4,071,699
				7,555,137
Media 0.0%
Cheil Worldwide, Inc. *		10,000		230,837
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Celltrion, Inc. *		12,586		600,185
Retailing 0.0%
Hyundai Department Store Co., Ltd.		2,016		260,843
Lotte Shopping Co., Ltd.		2,388		697,534
				958,377
Semiconductors & Semiconductor Equipment 1.1%
Samsung Electronics Co., Ltd. GDR - Reg’d		31,309		22,260,699
SK Hynix, Inc. *		77,560		3,356,473
				25,617,172
Software & Services 0.2%
Daum Communications Corp.		3,350		321,143
NAVER Corp.		3,948		2,933,331
NCSoft Corp.		2,010		331,979
NHN Entertainment Corp. *		2,680		194,918
SK C&C Co., Ltd.		2,800		454,225
				4,235,596
Technology Hardware & Equipment 0.1%
LG Display Co., Ltd. ADR *		73,500		971,670
Samsung Electro-Mechanics Co., Ltd.		8,664		534,175
Samsung SDI Co., Ltd.		7,040		1,045,442
				2,551,287
Telecommunication Services 0.1%
KT Corp. ADR		50,715		754,132
LG Uplus Corp.		37,570		353,162
SK Telecom Co., Ltd. ADR		73,500		1,751,505
				2,858,799
Transportation 0.1%
CJ Korea Express Co., Ltd. *		3,145		349,890
Hanjin Shipping Co., Ltd. *		33,500		198,334
Hyundai Glovis Co., Ltd.		2,135		551,433
Hyundai Merchant Marine Co., Ltd. *		9,660		90,048
				1,189,705
Utilities 0.1%
Korea Electric Power Corp. ADR		73,500		1,414,140
Korea Gas Corp. *		3,633		207,610
				1,621,750
				91,219,482
Singapore 1.5%
Banks 0.4%
DBS Group Holdings Ltd.		258,000		3,478,004
Oversea-Chinese Banking Corp., Ltd.		362,000		2,815,379

13

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
United Overseas Bank Ltd.		188,000		3,384,645
				9,678,028
Capital Goods 0.3%
Cosco Corp. Singapore Ltd. (a)		217,000		126,359
Jardine Matheson Holdings Ltd.		32,600		2,004,900
Jardine Strategic Holdings Ltd.		20,000		727,800
Keppel Corp., Ltd.		110,000		932,717
Noble Group Ltd.		735,181		812,209
Sembcorp Marine Ltd. (a)		50,000		164,320
Singapore Technologies Engineering Ltd.		432,000		1,333,578
				6,101,883
Consumer Services 0.0%
Genting Singapore plc		935,000		1,003,131
Diversified Financials 0.0%
Singapore Exchange Ltd.		32,000		175,870
Food & Staples Retailing 0.1%
Olam International Ltd.		735,000		1,371,914
Food, Beverage & Tobacco 0.1%
Golden Agri-Resources Ltd.		1,470,000		674,231
Indofood Agri Resources Ltd.		735,000		586,288
Wilmar International Ltd.		266,000		681,099
				1,941,618
Media 0.0%
Singapore Press Holdings Ltd. (a)		270,000		883,022
Real Estate 0.3%
CapitaCommercial Trust		735,000		990,827
CapitaLand Ltd.		735,000		1,870,259
CapitaMall Trust		735,000		1,213,616
City Developments Ltd.		84,000		694,165
Global Logistic Properties Ltd.		65,000		144,139
Hongkong Land Holdings Ltd.		194,000		1,361,880
Wing Tai Holdings Ltd.		807,000		1,255,255
				7,530,141
Technology Hardware & Equipment 0.0%
Venture Corp., Ltd.		73,000		424,496
Telecommunication Services 0.2%
Singapore Telecommunications Ltd.		1,214,000		3,776,652
Transportation 0.1%
ComfortDelGro Corp., Ltd.		735,000		1,366,051
Hutchison Port Holdings Trust		95,000		71,250
Singapore Post Ltd.		735,000		964,444
				2,401,745
				35,288,500
Spain 3.1%
Banks 1.5%
Banco Bilbao Vizcaya Argentaria S.A.		831,285		10,667,243
Banco de Sabadell S.A.		503,089		1,664,053
Banco Popular Espanol S.A.		191,296		1,352,412
Banco Santander S.A.		1,683,150		17,280,697
Bankia S.A. *		582,855		1,185,845
Bankinter S.A.		85,260		676,410
CaixaBank S.A.		273,420		1,664,752
				34,491,412
Capital Goods 0.1%
ACS, Actividades de Construccion y Servicios S.A.		29,400		1,307,639
Ferrovial S.A.		74,235		1,608,603
Zardoya Otis S.A.		22,096		399,201
				3,315,443
Diversified Financials 0.0%
Corporacion Financiera Alba S.A.		5,880		357,209
Energy 0.2%
Repsol S.A.		158,760		4,476,784
Food & Staples Retailing 0.0%
Distribuidora Internacional de Alimentacion S.A.		80,850		747,665
Insurance 0.0%
Mapfre S.A.		108,780		444,714
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Grifols S.A.		35,280		1,913,619
Retailing 0.2%
Inditex S.A.		34,565		5,023,146
Software & Services 0.1%
Amadeus IT Holding S.A., A Shares		57,330		2,521,343
Telecommunication Services 0.4%
Telefonica S.A.		589,627		9,904,329
Transportation 0.1%
Abertis Infraestructuras S.A.		55,125		1,209,175
Utilities 0.4%
Acciona S.A.		4,871		393,154
Enagas S.A.		33,075		974,411
Gas Natural SDG S.A.		78,645		2,269,177
Iberdrola S.A.		700,455		5,045,702
Red Electrica Corp. S.A.		11,815		1,014,729
				9,697,173
				74,102,012
Sweden 2.6%
Banks 0.8%
Nordea Bank AB		461,580		6,820,358
Skandinaviska Enskilda Banken AB, A Shares		240,345		3,268,911
Svenska Handelsbanken AB, A Shares		87,465		4,453,321
Swedbank AB, A Shares		128,625		3,427,586
				17,970,176
Capital Goods 0.7%
Alfa Laval AB		52,185		1,369,527
Assa Abloy AB, B Shares		42,960		2,173,179
Atlas Copco AB, A Shares		99,225		2,914,494
Atlas Copco AB, B Shares		63,945		1,766,225
Sandvik AB		136,710		1,950,456
Skanska AB, B Shares		63,945		1,483,821
SKF AB, B Shares		69,090		1,773,872
Volvo AB, B Shares		216,090		3,147,680
				16,579,254

14 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Commercial & Professional Services 0.0%
Securitas AB, B Shares		72,765		841,519
Consumer Durables & Apparel 0.1%
Electrolux AB, Series B		44,835		1,128,309
Husqvarna AB, B Shares		20,696		162,508
				1,290,817
Diversified Financials 0.2%
Industrivarden AB, A Shares		42,630		917,097
Investment AB Kinnevik, B Shares		20,580		817,999
Investor AB, B Shares		79,380		3,120,677
				4,855,773
Energy 0.0%
Lundin Petroleum AB *		29,425		576,633
Food, Beverage & Tobacco 0.1%
Swedish Match AB		48,622		1,701,846
Health Care Equipment & Services 0.0%
Elekta AB, B Shares		20,580		266,505
Getinge AB, B Shares		30,870		794,892
				1,061,397
Household & Personal Products 0.1%
Svenska Cellulosa AB SCA, B Shares		84,525		2,356,177
Materials 0.0%
Boliden AB		27,930		388,863
Holmen AB, B Shares		8,085		294,850
				683,713
Media 0.0%
Modern Times Group AB, B Shares		6,620		311,590
Retailing 0.2%
Hennes & Mauritz AB, B Shares		124,215		5,258,919
Technology Hardware & Equipment 0.3%
Hexagon AB, B Shares		36,015		1,133,876
Telefonaktiebolaget LM Ericsson, B Shares		414,540		5,203,704
				6,337,580
Telecommunication Services 0.1%
Tele2 AB		66,885		792,543
TeliaSonera AB		316,050		2,345,404
				3,137,947
				62,963,341
Switzerland 7.9%
Banks 0.0%
Banque Cantonale Vaudoise - Reg’d		735		407,808
Capital Goods 0.6%
ABB Ltd. - Reg’d *		377,055		8,971,374
Geberit AG - Reg’d		7,350		2,437,804
Schindler Holding AG		8,820		1,364,513
Schindler Holding AG - Reg’d		6,655		1,018,406
Sulzer AG - Reg’d		2,205		335,455
				14,127,552
Commercial & Professional Services 0.2%
Adecco S.A. - Reg’d *		24,990		2,089,605
SGS S.A. - Reg’d		735		1,845,825
				3,935,430
Consumer Durables & Apparel 0.5%
Cie Financiere Richemont S.A. - Reg’d		74,235		7,834,971
The Swatch Group AG		5,145		3,041,705
The Swatch Group AG - Reg’d		12,495		1,373,269
				12,249,945
Diversified Financials 0.8%
Credit Suisse Group AG - Reg’d *		189,569		5,644,977
GAM Holding AG *		27,930		515,515
Julius Baer Group Ltd. *		43,553		1,888,377
Pargesa Holding S.A.		3,675		328,055
UBS AG - Reg’d *		560,975		11,282,880
				19,659,804
Energy 0.1%
Transocean Ltd. *		50,715		2,142,744
Food, Beverage & Tobacco 1.6%
Aryzta AG *		13,965		1,304,410
Lindt & Spruengli AG - Reg’d		14		833,939
Nestle S.A. - Reg’d		467,460		36,734,790
				38,873,139
Health Care Equipment & Services 0.1%
Sonova Holding AG - Reg’d *		8,085		1,235,428
Insurance 0.6%
Baloise Holding AG - Reg’d		6,615		795,472
Swiss Life Holding AG - Reg’d *		2,704		651,235
Swiss Re AG *		55,860		4,977,067
Zurich Insurance Group AG *		22,050		6,627,703
				13,051,477
Materials 0.5%
Clariant AG - Reg’d *		11,780		243,783
Givaudan S.A. - Reg’d *		2,205		3,620,941
Holcim Ltd. - Reg’d *		31,605		2,777,082
Sika AG		48		190,561
Syngenta AG - Reg’d		14,700		5,664,914
				12,497,281
Pharmaceuticals, Biotechnology & Life Sciences 2.7%
Actelion Ltd. - Reg’d *		16,905		1,683,030
Galenica AG - Reg’d		445		440,545
Lonza Group AG - Reg’d *		5,880		633,089
Novartis AG - Reg’d		349,125		31,360,521
Roche Holding AG		102,900		30,330,723
				64,447,908
Real Estate 0.0%
Swiss Prime Site AG - Reg’d *		11,025		887,969
Telecommunication Services 0.1%
Swisscom AG - Reg’d		4,099		2,446,240
Transportation 0.1%
Kuehne & Nagel International AG - Reg’d		7,350		1,003,898
				186,966,623
United Kingdom 18.5%
Automobiles & Components 0.1%
GKN plc		241,815		1,592,420

15

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Banks 2.4%
Barclays plc		2,292,133		9,496,440
HSBC Holdings plc		2,835,630		29,926,941
Lloyds Banking Group plc *		7,449,632		9,729,114
Royal Bank of Scotland Group plc *		289,650		1,683,938
Standard Chartered plc		306,080		6,892,445
				57,728,878
Capital Goods 0.8%
BAE Systems plc		496,125		3,520,937
Bunzl plc		39,690		1,113,119
Cobham plc		143,325		766,656
IMI plc		48,226		1,291,844
Meggitt plc		94,080		764,566
Melrose Industries plc		217,560		1,021,789
Rolls-Royce Holdings plc *		259,455		4,526,051
Smiths Group plc		67,620		1,498,311
The Weir Group plc		26,460		1,162,827
Travis Perkins plc		36,015		1,016,697
Wolseley plc		44,159		2,462,833
				19,145,630
Commercial & Professional Services 0.4%
Aggreko plc		37,776		1,056,272
Babcock International Group plc		50,876		1,035,990
Capita plc		91,875		1,705,961
Experian plc		144,795		2,518,584
G4S plc		208,740		875,326
Intertek Group plc		18,375		899,366
Rentokil Initial plc		327,810		648,826
				8,740,325
Consumer Durables & Apparel 0.2%
Berkeley Group Holdings plc		37,485		1,417,843
Burberry Group plc		88,715		2,281,199
Taylor Wimpey plc		514,500		934,626
				4,633,668
Consumer Services 0.4%
Carnival plc		19,437		790,615
Compass Group plc		244,940		4,090,016
InterContinental Hotels Group plc		35,452		1,400,412
TUI Travel plc		144,795		996,504
Whitbread plc		30,135		2,115,897
William Hill plc		208,241		1,242,087
				10,635,531
Diversified Financials 0.3%
3i Group plc		158,025		1,144,809
Aberdeen Asset Management plc		203,174		1,516,875
Ashmore Group plc		50,715		300,541
Hargreaves Lansdown plc		33,810		691,310
ICAP plc		122,745		822,723
Investec plc		58,065		504,021
London Stock Exchange Group plc		14,700		482,786
Schroders plc		22,785		988,329
Schroders plc, Non-Voting Shares		14,700		485,251
				6,936,645
Energy 3.1%
AMEC plc		48,510		982,929
BG Group plc		492,535		10,087,343
BP plc		2,773,890		23,403,525
John Wood Group plc		74,235		979,958
Petrofac Ltd.		38,220		809,048
Royal Dutch Shell plc, A Shares		565,616		22,247,878
Royal Dutch Shell plc, B Shares		362,465		14,804,341
Tullow Oil plc		145,530		2,057,805
				75,372,827
Food & Staples Retailing 0.3%
J Sainsbury plc		232,640		1,350,548
Tesco plc		1,161,300		5,912,875
William Morrison Supermarkets plc		388,080		1,312,959
				8,576,382
Food, Beverage & Tobacco 2.3%
Associated British Foods plc		54,390		2,753,356
British American Tobacco plc		264,682		15,984,950
Coca-Cola HBC AG CDI *		29,400		676,590
Diageo plc		367,500		11,829,227
Imperial Tobacco Group plc		145,530		6,571,305
SABMiller plc		154,490		8,579,927
Tate & Lyle plc		80,850		939,126
Unilever plc		185,270		8,328,446
				55,662,927
Health Care Equipment & Services 0.1%
Smith & Nephew plc		124,950		2,192,260
Household & Personal Products 0.4%
Reckitt Benckiser Group plc		102,900		8,802,572
Insurance 1.1%
Admiral Group plc		10,290		251,650
Aviva plc		412,335		3,624,145
Direct Line Insurance Group plc		215,355		914,986
Friends Life Group Ltd.		291,384		1,531,264
Legal & General Group plc		966,525		3,732,007
Old Mutual plc		758,671		2,570,567
Prudential plc		416,110		9,670,273
RSA Insurance Group plc		113,033		909,682
St. James’s Place plc		50,715		665,648
Standard Life plc		313,110		2,100,782
				25,971,004
Materials 1.8%
Anglo American plc		203,595		4,977,368
Antofagasta plc		38,220		505,495
BHP Billiton plc		320,460		10,040,949
CRH plc		107,310		2,946,544
Croda International plc		24,045		1,061,939
Fresnillo plc		18,375		248,420
Glencore plc *		1,467,073		7,956,987
Johnson Matthey plc		28,707		1,546,633
Lonmin plc *		70,560		304,051
Mondi plc		42,630		765,824
Polymetal International plc		15,460		135,624
Randgold Resources Ltd.		12,495		913,162
Rexam plc		136,832		1,219,874
Rio Tinto plc		191,452		9,817,014
Vedanta Resources plc		13,965		257,666
				42,697,550
Media 0.6%
British Sky Broadcasting Group plc		148,615		2,199,892
Daily Mail & General Trust plc, A Shares		32,340		472,207

16 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Informa plc		57,330		495,718
ITV plc		671,790		2,051,954
Pearson plc		104,370		2,050,013
Reed Elsevier plc		153,615		2,450,407
WPP plc		179,340		3,871,505
				13,591,696
Pharmaceuticals, Biotechnology & Life Sciences 1.6%
AstraZeneca plc		184,630		13,265,545
GlaxoSmithKline plc		697,870		18,740,877
Shire plc		92,610		5,303,291
				37,309,713
Real Estate 0.3%
British Land Co. plc		201,390		2,415,283
Hammerson plc		155,820		1,552,508
Intu Properties plc		158,760		838,833
Land Securities Group plc		115,395		2,067,199
SEGRO plc		144,795		897,412
				7,771,235
Retailing 0.3%
Kingfisher plc		391,755		2,575,874
Marks & Spencer Group plc		239,610		1,805,380
Next plc		23,520		2,619,567
				7,000,821
Semiconductors & Semiconductor Equipment 0.1%
ARM Holdings plc		202,960		3,132,004
Software & Services 0.1%
The Sage Group plc		179,488		1,233,762
Telecommunication Services 0.9%
BT Group plc		1,098,090		7,312,275
Inmarsat plc		63,945		784,594
Vodafone Group plc		3,948,175		13,874,089
				21,970,958
Transportation 0.1%
easyJet plc		27,195		697,918
International Consolidated Airlines Group S.A. *		169,050		1,116,078
				1,813,996
Utilities 0.8%
Centrica plc		725,135		4,081,924
Drax Group plc		53,655		566,089
National Grid plc		544,733		8,132,007
Severn Trent plc		37,485		1,237,390
SSE plc		131,565		3,433,792
United Utilities Group plc		92,610		1,348,347
				18,799,549
				441,312,353
Total Common Stock
(Cost $2,032,774,526)				2,351,543,701
Other Investment Companies 0.1% of net assets
United States 0.1%
Equity Fund 0.1%
iShares MSCI EAFE ETF		20,000		1,388,200
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (d)		435,224		435,224
Total Other Investment Companies
(Cost $1,624,520)				1,823,424
Preferred Stock 0.4% of net assets
Germany 0.4%
Automobiles & Components 0.3%
Porsche Automobil Holding SE		23,520		2,514,583
Volkswagen AG		23,530		6,261,036
				8,775,619
Household & Personal Products 0.1%
Henkel AG & Co. KGaA		22,050		2,549,385
				11,325,004
United Kingdom 0.0%
Capital Goods 0.0%
Rolls-Royce Holdings plc (b)(c)		33,300,608		55,856
Total Preferred Stock
(Cost $8,267,809)				11,380,860
Rights 0.0% of net assets
Hong Kong 0.0%
Food, Beverage & Tobacco 0.0%
Uni-President China Holdings Ltd. *(b)(c)		48,800		9,190
Republic of Korea 0.0%
Banks 0.0%
BS Financial Group, Inc. *(b)(c)		4,206		8,040
Total Rights
(Cost $—)				17,230
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.05%, 06/19/14 (e)(f)		6,000		6,000
Total Short-Term Investment
(Cost $6,000)				6,000
End of Investments

17

 Schwab International Equity 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, Institutional Class 0.00% (d)		1,477,727		1,477,727
Total Collateral Invested for Securities on Loan
(Cost $1,477,727)				1,477,727
End of Collateral Invested for Securities on Loan

At 05/31/14, the tax basis cost of the fund’s investments was $2,043,607,349 and the unrealized appreciation and depreciation were $372,158,222 and ($50,994,356), respectively, with a net unrealized appreciation of $321,163,866.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $1,352,045. Non-Cash Collateral received for securities on loan amounted to $24,533.
(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 $73,086 or 0.0% of net assets.
(d)	The rate shown is the 7-day yield.
(e)	The rate shown is the purchase yield.
(f)	All or a portion of this security is held as collateral for open futures contracts.

ADR —	American Depositary Receipt
CDI —	CHESS Depositary Interest
CVA —	Dutch Certificate
ETF —	Exchange Traded Fund
GDR —	Global Depositary Receipt
Reg’d —	Registered
REIT —	Real Estate Investment Trust
RSP —	Risparmio (Convertible Savings Shares)

In addition to the above, the fund held the following at 05/31/14:

			Contract		Unrealized
	Number of		Value		Appreciation
	Contracts		($)		($)
Futures Contracts
MSCI EAFE, e-mini, Long, expires 06/20/14		1		97,935		6,065

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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon

18 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Futures contracts: Futures are valued at their settlement prices as of the close of their exchanges.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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, ETFs and futures contracts. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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 International 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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$2,351,543,701		$—		$—		$2,351,543,701
Other Investment Companies1		1,823,424		—		—		1,823,424
Preferred Stock1		11,325,004		—		—		11,325,004
United Kingdom1		—		—		55,856		55,856
Rights1
Hong Kong1		—		—		9,190		9,190
Republic of Korea1		—		—		8,040		8,040
Short-Term Investment1		—		6,000		—		6,000
Total		$2,364,692,129		$6,000		$73,086		$2,364,771,215
Other Financial Instruments
Collateral Invested for Securities on Loan		$1,477,727		$—		$—		$1,477,727
Futures Contracts2		6,065		—		—		6,065

1	As categorized in portfolio holdings.
2	Futures contracts are not included in Investments in the schedule of portfolio holdings and are valued at unrealized appreciation or depreciation.

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			Appreciation			Gross		Gross			Transfers		Transfers		May 31,
Investments in Securities	2013		(Losses)			(Depreciation)			Purchases		Sales			in		out		2014
Common Stock
Hong Kong		$467		($9	)		($467	)		$3,129		($3,120	)		$—		$—		$—
Preferred Stock
United Kingdom		—		—			(15	)		55,871		—			—		—		55,856
Rights
Hong Kong		—		—			9,190			—		—			—		—		$9,190
Italy		44		—			(44	)		—		—			—		—		—
Republic of Korea		—		—			8,040			—		—			—		—		8,040
Total		$511		($9	)		$16,704			$59,000		($3,120	)		$—		$—		$73,086

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 May 31, 2014.

REG54094MAY14

20 

Schwab Strategic Trust
Schwab International Small-Cap Equity ETF™

Portfolio Holdings as of May 31, 2014 (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	.8%	Common Stock		313,634,156		375,606,234
	0	.4%	Other Investment Companies		1,039,147		1,351,910
	0	.3%	Preferred Stock		898,834		1,187,721
	0	.0%	Rights		57,573		82,532
	0	.0%	Short-Term Investment		8,500		8,500
	99	.5%	Total Investments		315,638,210		378,236,897
	2	.5%	Collateral Invested for Securities on Loan		9,652,441		9,652,441
	(2	.0)%	Other Assets and Liabilities, Net				(7,846,644	)
	100	.0%	Net Assets				380,042,694

	Number		Value
Security	of Shares		($)
Common Stock 98.8% of net assets
Australia 5.0%
Automobiles & Components 0.1%
ARB Corp., Ltd. (c)		12,324		144,865
Capital Goods 0.3%
Bradken Ltd.		47,214		156,873
Cardno Ltd. (c)		26,627		159,842
Hills Ltd.		39,264		57,373
Monadelphous Group Ltd. (c)		23,952		395,462
Seven Group Holdings Ltd.		26,627		198,006
UGL Ltd.		36,888		225,216
				1,192,772
Commercial & Professional Services 0.3%
Cabcharge Australia Ltd.		56,357		212,428
McMillan Shakespeare Ltd.		12,324		118,485
Mineral Resources Ltd.		28,344		269,337
SAI Global Ltd.		53,257		253,284
Transpacific Industries Group Ltd. *		246,486		256,933
				1,110,467
Consumer Durables & Apparel 0.1%
G.U.D. Holdings Ltd. (c)		33,752		166,803
Consumer Services 0.5%
Ainsworth Game Technology Ltd.		31,238		114,549
Ardent Leisure Group		66,569		167,281
Domino’s Pizza Enterprises Ltd.		10,626		208,177
G8 Education Ltd.		82,160		346,392
Invocare Ltd.		48,599		471,760
Navitas Ltd.		71,032		509,704
Retail Food Group Ltd.		18,640		73,383
				1,891,246
Diversified Financials 0.1%
BT Investment Management Ltd.		20,540		125,405
FlexiGroup Ltd.		66,569		212,508
Magellan Financial Group Ltd.		16,122		186,059
				523,972
Energy 0.3%
AWE Ltd. *		141,583		233,894
Beach Energy Ltd.		199,713		307,620
Drillsearch Energy Ltd. *(c)		81,753		118,316
Horizon Oil Ltd. *(c)		211,608		72,869
Karoon Gas Australia Ltd. *(a)(b)		58,061		132,932
Paladin Energy Ltd. *(c)		175,362		63,652
Senex Energy Ltd. *		184,317		126,942
Sundance Energy Australia Ltd. *		98,822		100,251
				1,156,476
Food, Beverage & Tobacco 0.2%
Australian Agricultural Co., Ltd. *		61,620		71,401
GrainCorp Ltd.		67,306		551,873
Tassal Group Ltd.		25,675		93,671
				716,945
Health Care Equipment & Services 0.2%
Australian Pharmaceutical Industries Ltd.		137,166		65,745
Primary Health Care Ltd.		141,886		590,279
Sigma Pharmaceuticals Ltd.		333,543		220,404
				876,428
Insurance 0.1%
NIB Holdings Ltd.		102,700		300,130
Steadfast Group Ltd.		55,666		78,749
				378,879
Materials 0.6%
Beadell Resources Ltd. *		182,135		111,878
Evolution Mining Ltd. (c)		106,514		75,341
Independence Group NL		65,964		260,919
Mount Gibson Iron Ltd.		184,863		126,458
Northern Star Resources Ltd.		104,871		112,732
PanAust Ltd.		167,896		343,774
Papillon Resources Ltd. *(a)		101,833		135,056
Regis Resources Ltd.		109,454		158,406
Sandfire Resources NL *		31,578		173,987
Sirius Resources NL *		39,068		115,627
Sundance Resources Ltd. *		1,129,727		96,732
Syrah Resources Ltd. *(c)		25,675		88,414
Tiger Resources Ltd. *		313,241		112,240
Western Areas Ltd.		48,691		205,285
				2,116,849
Media 0.1%
APN News & Media Ltd. *		140,273		100,525
Southern Cross Media Group Ltd.		143,597		146,342
STW Communications Group Ltd.		55,434		69,908
Village Roadshow Ltd.		25,675		196,901
				513,676

1

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Mayne Pharma Group Ltd. *		101,790		87,631
Mesoblast Ltd. *(c)		48,590		218,878
Sirtex Medical Ltd.		9,252		148,106
				454,615
Real Estate 0.5%
Abacus Property Group		114,281		257,394
Aveo Group		96,803		183,793
BWP Trust		158,092		379,611
Charter Hall Group		75,332		302,181
Charter Hall Retail REIT		65,402		243,479
Cromwell Property Group		308,106		285,321
Investa Office Fund		116,029		361,760
				2,013,539
Retailing 0.7%
Automotive Holdings Group Ltd.		89,308		314,190
Breville Group Ltd.		22,219		168,536
David Jones Ltd.		148,708		559,146
JB Hi-Fi Ltd. (c)		23,062		389,353
Myer Holdings Ltd.		170,595		341,362
Pacific Brands Ltd.		377,372		198,439
Premier Investments Ltd.		26,627		217,584
Super Retail Group Ltd.		33,283		282,196
The Reject Shop Ltd. (c)		6,656		61,885
				2,532,691
Semiconductors & Semiconductor Equipment 0.0%
Silex Systems Ltd. *		32,337		41,232
Software & Services 0.3%
carsales.com Ltd.		53,026		543,358
Iress Ltd.		37,069		292,561
SMS Management & Technology Ltd.		24,648		76,848
UXC Ltd.		71,259		50,404
				963,171
Telecommunication Services 0.1%
Amcom Telecommunications Ltd.		23,818		48,325
iiNET Ltd.		24,648		170,214
M2 Group Ltd. (c)		34,688		195,965
				414,504
Transportation 0.1%
Mermaid Marine Australia Ltd.		59,369		114,377
Qube Holdings Ltd.		66,569		144,357
Virgin Australia Holdings Ltd. *		533,488		203,572
Virgin Australia International Holdings Ltd. (a)(b)		424,000		—
				462,306
Utilities 0.3%
DUET Group		258,810		580,508
Energy World Corp. Ltd. *		306,263		79,811
Spark Infrastructure Group		306,263		513,070
				1,173,389
				18,844,825
Austria 0.8%
Capital Goods 0.2%
Wienerberger AG		36,215		650,577
Zumtobel AG		5,317		113,909
				764,486
Energy 0.1%
Schoeller-Bleckmann Oilfield Equipment AG		2,891		344,865
Materials 0.1%
Mayr Melnhof Karton AG		1,379		170,088
RHI AG		5,772		187,965
				358,053
Real Estate 0.3%
Atrium European Real Estate Ltd. *		57,306		319,825
CA Immobilien Anlagen AG *		16,357		303,440
Conwert Immobilien Invest SE *		17,184		211,270
S IMMO AG *		13,312		106,265
				940,800
Technology Hardware & Equipment 0.0%
Kapsch TrafficCom AG (c)		1,848		92,307
Transportation 0.1%
Oesterreichische Post AG		9,503		443,223
Utilities 0.0%
EVN AG		7,064		96,681
				3,040,415
Belgium 1.6%
Consumer Durables & Apparel 0.0%
Van de Velde N.V.		1,729		92,520
Diversified Financials 0.4%
Ackermans & van Haaren N.V.		6,252		794,423
KBC Ancora *		3,526		120,742
RHJ International S.A. *		43,804		216,377
Sofina S.A.		4,609		543,954
				1,675,496
Energy 0.0%
Euronav N.V. *		7,437		92,490
Health Care Equipment & Services 0.1%
AGFA-Gevaert N.V. *		38,761		121,756
Arseus N.V.		5,700		311,117
				432,873
Materials 0.2%
NV Bekaert S.A.		6,799		257,638
Nyrstar N.V. *(c)		55,161		182,680
Tessenderlo Chemie N.V.		9,329		281,013
				721,331
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
ThromboGenics N.V. *(c)		7,392		181,562
Real Estate 0.3%
Befimmo S.A.		4,818		359,949
Cofinimmo		3,458		413,917
Warehouses De Pauw S.C.A.		2,094		156,441
				930,307
Retailing 0.1%
D’Ieteren S.A. N.V.		9,298		393,442
Semiconductors & Semiconductor Equipment 0.1%
Melexis N.V.		5,476		229,997

2 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Technology Hardware & Equipment 0.1%
Barco N.V.		2,249		172,900
EVS Broadcast Equipment S.A.		3,938		209,571
				382,471
Telecommunication Services 0.0%
Mobistar S.A. *		5,586		115,022
Transportation 0.1%
bpost S.A.		21,520		542,668
Utilities 0.1%
Elia System Operator S.A. N.V.		5,175		267,597
				6,057,776
Canada 16.9%
Automobiles & Components 0.2%
Linamar Corp.		12,856		713,334
Martinrea International, Inc.		5,874		63,401
				776,735
Banks 0.6%
Canadian Western Bank		14,681		505,658
Genworth MI Canada, Inc.		14,681		520,531
Home Capital Group, Inc.		20,162		905,373
Laurentian Bank of Canada		4,466		195,240
				2,126,802
Capital Goods 0.9%
Aecon Group, Inc.		14,681		227,817
ATS Automation Tooling Systems, Inc. *		23,842		323,646
CAE, Inc.		62,889		851,377
MacDonald, Dettwiler & Associates Ltd.		8,802		718,200
Russel Metals, Inc.		14,681		442,789
Toromont Industries Ltd.		17,617		429,778
Westport Innovations, Inc. *		13,312		201,669
WSP Global, Inc.		6,042		214,059
				3,409,335
Commercial & Professional Services 0.6%
Black Diamond Group Ltd.		3,420		104,063
Progressive Waste Solutions Ltd.		28,664		741,249
Ritchie Bros. Auctioneers, Inc.		24,448		557,699
Stantec, Inc.		11,915		736,396
Transcontinental, Inc., Class A		13,312		181,931
				2,321,338
Consumer Durables & Apparel 0.4%
Dorel Industries, Inc., Class B		6,803		258,124
Gildan Activewear, Inc.		26,627		1,447,522
				1,705,646
Consumer Services 0.0%
Great Canadian Gaming Corp. *		11,091		163,426
Diversified Financials 0.7%
AGF Management Ltd., Class B		14,681		173,871
Canaccord Genuity Group, Inc.		14,131		142,371
Dundee Corp., Class A *		12,795		190,537
Element Financial Corp. *		20,520		257,953
GMP Capital, Inc.		7,191		54,039
Onex Corp.		22,507		1,398,072
TMX Group Ltd.		6,862		363,054
				2,579,897
Energy 5.8%
Advantage Oil & Gas Ltd. *		44,066		264,595
AltaGas Ltd.		26,627		1,181,706
Athabasca Oil Corp. *		84,635		588,474
Bankers Petroleum Ltd. *		70,011		419,737
Baytex Energy Corp.		26,627		1,110,593
Birchcliff Energy Ltd. *		26,627		329,818
BlackPearl Resources, Inc. *		79,884		168,471
Bonavista Energy Corp.		39,942		595,167
Bonterra Energy Corp.		4,715		250,329
Calfrac Well Services Ltd.		9,244		316,008
Canadian Energy Services & Technology Corp.		6,726		193,384
Crew Energy, Inc. *		26,914		258,519
Denison Mines Corp. *		133,141		160,625
Enerflex Ltd.		14,681		220,786
Enerplus Corp.		39,942		907,831
Ensign Energy Services, Inc.		30,596		457,313
Gibson Energy, Inc.		26,627		768,513
Gran Tierra Energy, Inc. *		26,220		188,829
Kelt Exploration Ltd. *		13,023		155,914
Keyera Corp.		17,625		1,191,881
Legacy Oil & Gas, Inc. *		28,664		224,381
Lightstream Resources Ltd.		48,877		345,697
Mullen Group Ltd.		14,681		393,440
NuVista Energy Ltd. *		29,365		301,263
Paramount Resources Ltd., A Shares *		12,151		638,407
Parkland Fuel Corp.		14,131		278,495
Pason Systems, Inc.		14,681		399,524
Pengrowth Energy Corp.		123,243		777,469
Peyto Exploration & Development Corp.		26,627		943,599
Precision Drilling Corp.		66,569		862,574
Savanna Energy Services Corp.		25,232		190,544
Secure Energy Services, Inc.		19,920		357,729
ShawCor Ltd.		13,694		693,370
Tourmaline Oil Corp. *		38,609		1,920,050
Trican Well Service Ltd.		37,415		572,673
Trilogy Energy Corp.		16,050		422,886
Trinidad Drilling Ltd.		36,354		385,017
Veresen, Inc.		39,942		625,697
Vermilion Energy, Inc.		20,431		1,377,684
Whitecap Resources, Inc.		36,708		502,692
				21,941,684
Food & Staples Retailing 0.3%
Empire Co., Ltd., A Shares		10,170		613,375
The Jean Coutu Group PJC, Inc., A Shares		21,311		461,214
The North West Co., Inc.		3,081		67,530
				1,142,119
Food, Beverage & Tobacco 0.2%
Cott Corp.		29,365		206,611
Maple Leaf Foods, Inc.		21,513		370,685
				577,296
Health Care Equipment & Services 0.1%
Extendicare, Inc.		29,365		198,768

3

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Insurance 0.2%
Industrial Alliance Insurance & Financial Services, Inc.		22,182		850,427
Materials 3.0%
Alacer Gold Corp.		66,569		145,295
Alamos Gold, Inc.		30,392		249,943
Argonaut Gold, Inc. *		26,338		89,746
AuRico Gold, Inc.		65,756		227,089
B2Gold Corp. *		130,597		316,315
Canexus Corp.		21,510		97,858
Canfor Corp. *		24,499		539,910
Capstone Mining Corp. *		74,965		180,189
CCL Industries, Inc., Class B		8,902		862,859
Centerra Gold, Inc.		39,942		169,575
China Gold International Resources Corp. Ltd. *		61,080		166,503
Continental Gold Ltd. *		18,183		53,083
Detour Gold Corp. *		33,744		322,881
Dominion Diamond Corp. *		14,681		192,394
Dundee Precious Metals, Inc. *		28,664		94,768
Endeavour Silver Corp. *		13,312		50,877
First Majestic Silver Corp. *		26,627		222,903
HudBay Minerals, Inc.		45,983		404,842
IAMGOLD Corp.		35,945		108,909
Imperial Metals Corp. *		14,382		200,263
Lundin Mining Corp. *		115,073		602,998
Major Drilling Group International, Inc.		27,996		217,347
Methanex Corp.		22,422		1,284,384
Nevsun Resources Ltd.		39,942		133,158
New Gold, Inc. *		100,267		536,493
Novagold Resources, Inc. *		66,569		198,631
OceanaGold Corp. *		55,995		132,014
Osisko Mining Corp. *		99,527		739,681
Pan American Silver Corp.		36,026		442,922
Pretium Resources, Inc. *(c)		13,312		85,081
SEMAFO, Inc.		47,752		156,997
Sherritt International Corp.		61,026		260,211
Silver Standard Resources, Inc. *		14,681		95,588
Stella-Jones, Inc.		4,929		133,773
Tahoe Resources, Inc. *		21,703		449,510
Taseko Mines Ltd. *		44,066		97,397
Thompson Creek Metals Co., Inc. *(c)		31,304		87,352
Torex Gold Resources, Inc. *		139,668		156,923
West Fraser Timber Co., Ltd.		15,538		712,615
				11,219,277
Media 0.7%
Aimia, Inc.		43,304		772,082
Cineplex, Inc.		13,312		490,994
Cogeco Cable, Inc.		3,856		222,230
Corus Entertainment, Inc.		13,312		307,224
Imax Corp. *		13,980		366,414
Quebecor, Inc., Class B		21,793		526,637
Torstar Corp.		13,980		99,006
				2,784,587
Real Estate 1.1%
Allied Properties Real Estate Investment Trust		3,696		119,200
Artis Real Estate Investment Trust		15,294		221,554
Boardwalk Real Estate Investment Trust		3,895		230,360
Calloway Real Estate Investment Trust		15,619		386,214
Canadian Apartment Properties Real Estate Investment Trust		14,681		301,773
Canadian Real Estate Investment Trust		10,415		435,841
Chartwell Retirement Residences		32,554		316,591
Cominar Real Estate Investment Trust		13,797		239,257
Dream Office Real Estate Investment Trust		13,447		361,113
Dream Unlimited Corp. *		14,681		195,098
First Capital Realty, Inc.		22,434		385,521
FirstService Corp.		4,277		212,974
H&R Real Estate Investment Trust		28,695		616,790
InnVest Real Estate Investment Trust		12,324		58,564
Morguard Real Estate Investment Trust		8,297		131,120
				4,211,970
Retailing 0.4%
Dollarama, Inc.		13,467		1,134,435
Hudson’s Bay Co.		12,540		196,441
RONA, Inc.		26,627		268,514
				1,599,390
Software & Services 0.6%
Constellation Software, Inc.		2,784		628,153
DH Corp.		14,618		436,716
Open Text Corp.		26,627		1,240,558
				2,305,427
Technology Hardware & Equipment 0.1%
Celestica, Inc. *		30,392		359,660
Telecommunication Services 0.1%
Manitoba Telecom Services, Inc.		11,037		327,802
Transportation 0.2%
TransForce, Inc.		14,681		320,431
Westshore Terminals Investment Corp.		10,753		330,854
				651,285
Utilities 0.7%
Algonquin Power & Utilities Corp.		35,401		263,425
Atco Ltd., Class I		21,728		1,035,124
Capital Power Corp.		13,312		317,522
Emera, Inc.		15,427		483,474
Innergex Renewable Energy, Inc.		13,312		127,131
Just Energy Group, Inc.		13,312		74,293
Northland Power, Inc.		13,312		217,974
Superior Plus Corp.		26,627		329,328
				2,848,271
				64,101,142
Denmark 1.4%
Banks 0.4%
Jyske Bank A/S *		17,559		971,799
Sydbank A/S *		17,868		477,299
				1,449,098
Capital Goods 0.1%
NKT Holding A/S		6,060		415,608

4 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Consumer Durables & Apparel 0.0%
Bang & Olufsen A/S *		6,656		76,060
Food, Beverage & Tobacco 0.0%
Royal UNIBREW *		984		158,322
Health Care Equipment & Services 0.3%
GN Store Nord A/S		42,364		1,165,729
Insurance 0.2%
Topdanmark A/S *		22,300		680,904
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Alk-Abello A/S		2,593		403,930
Bavarian Nordic A/S *		3,705		84,338
Genmab A/S *		9,905		399,326
				887,594
Retailing 0.1%
Matas A/S *		7,963		225,669
Software & Services 0.1%
SimCorp A/S		10,657		360,472
				5,419,456
Finland 2.1%
Capital Goods 0.6%
Cargotec Oyj, B Shares		10,282		427,924
Cramo Oyj		3,733		82,724
Konecranes Oyj		12,517		402,065
Outotec Oyj (c)		42,584		478,520
Ramirent Oyj		16,063		176,227
Uponor Oyj		13,312		251,584
YIT Oyj (c)		29,151		318,224
				2,137,268
Commercial & Professional Services 0.2%
Caverion Corp.		29,151		310,268
Lassila & Tikanoja Oyj		12,323		242,646
				552,914
Consumer Durables & Apparel 0.2%
Amer Sports Oyj		28,826		586,871
Food, Beverage & Tobacco 0.0%
Raisio plc		18,486		109,225
Materials 0.5%
Huhtamaki Oyj		24,149		655,755
Kemira Oyj		20,397		318,407
Metsa Board Oyj		60,849		286,459
Outokumpu Oyj *		1,089,633		384,056
Rautaruukki Oyj *		10,521		152,752
				1,797,429
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Orion Oyj, Class B		16,700		526,859
Real Estate 0.1%
Citycon Oyj		59,301		218,482
Sponda Oyj		47,176		243,978
				462,460
Retailing 0.0%
Stockmann Oyj Abp, B Shares		6,995		114,731
Software & Services 0.1%
Tieto Oyj		15,505		430,975
Telecommunication Services 0.3%
Elisa Oyj		36,972		1,101,832
Transportation 0.0%
Finnair Oyj *		26,627		105,005
				7,925,569
France 3.5%
Automobiles & Components 0.2%
Burelle S.A.		60		61,159
Faurecia		11,310		465,616
Plastic Omnium S.A.		11,091		377,069
				903,844
Capital Goods 0.2%
Mersen		4,631		139,023
Nexans S.A. *		8,137		481,441
Saft Groupe S.A.		6,819		233,366
				853,830
Commercial & Professional Services 0.2%
Derichebourg S.A.		12,489		41,224
Teleperformance		13,370		837,493
				878,717
Consumer Durables & Apparel 0.1%
Nexity S.A.		8,413		354,214
Energy 0.2%
Bourbon S.A.		13,124		410,997
Etablissements Maurel et Prom		17,157		295,220
MPI		33,435		189,339
				895,556
Food & Staples Retailing 0.1%
Rallye S.A.		6,905		360,259
Food, Beverage & Tobacco 0.1%
Bonduelle S.C.A.		3,696		110,299
Vilmorin & Cie S.A.		1,353		179,325
				289,624
Health Care Equipment & Services 0.3%
Korian-Medica		13,238		523,492
Orpea		9,298		664,069
				1,187,561
Materials 0.2%
Eramet *		1,710		219,431
Vicat		4,241		361,981
				581,412
Media 0.5%
Havas S.A.		69,876		602,512
IPSOS *		8,692		345,560
Metropole Television S.A.		14,296		290,176
Societe d’Edition de Canal		31,506		260,099
Solocal Group *(c)		101,232		118,797
Technicolor S.A. *		55,798		412,294
				2,029,438
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Eurofins Scientific SE		1,476		453,167
Virbac S.A.		1,507		352,669
				805,836

5

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Real Estate 0.1%
Mercialys S.A.		13,312		297,632
Retailing 0.0%
Groupe Fnac *		1,759		86,409
Software & Services 0.5%
Alten S.A.		8,379		430,702
Altran Technologies S.A. *		47,525		522,045
Bull *		10,765		73,447
GameLoft SE *		12,324		115,363
Groupe Steria S.C.A. (c)		8,554		232,513
Sopra Group S.A. (c)		535		60,542
UBISOFT Entertainment *		27,975		559,430
				1,994,042
Technology Hardware & Equipment 0.4%
Ingenico (c)		8,625		780,183
Neopost S.A.		7,450		596,637
				1,376,820
Utilities 0.2%
ALBIOMA		1,993		53,167
Rubis S.C.A.		8,219		565,585
				618,752
				13,513,946
Germany 4.7%
Automobiles & Components 0.3%
ElringKlinger AG		8,013		323,213
Leoni AG		8,598		689,044
				1,012,257
Banks 0.2%
Aareal Bank AG (c)		12,818		607,019
Capital Goods 1.3%
Bauer AG		1,118		28,093
BayWa AG		3,978		222,447
Deutz AG		41,977		354,562
DMG MORI SEIKI AG		18,719		596,557
Duerr AG		3,081		263,896
Heidelberger Druckmaschinen AG *		29,532		100,302
KION Group AG		5,700		261,417
Kloeckner & Co. SE *		22,268		375,113
Krones AG		3,156		307,916
KUKA AG (c)		9,521		543,451
Nordex SE *		13,868		303,534
Norma Group SE		7,392		403,521
Pfeiffer Vacuum Technology AG		3,236		353,034
Rational AG		1,242		385,730
Rheinmetall AG		3,512		240,909
SGL Carbon SE *(c)		9,984		340,728
				5,081,210
Consumer Durables & Apparel 0.1%
Gerry Weber International AG		6,219		331,256
Diversified Financials 0.1%
Aurelius AG		3,081		114,144
Deutsche Beteiligungs AG		2,586		70,927
Grenkeleasing AG		1,230		128,548
				313,619
Food, Beverage & Tobacco 0.0%
KWS Saat AG		390		134,693
Health Care Equipment & Services 0.2%
Carl Zeiss Meditec AG		2,636		78,827
Draegerwerk AG & Co. KGaA		286		26,058
Rhoen Klinikum AG		16,635		549,210
				654,095
Materials 0.3%
Aurubis AG		12,762		695,879
Salzgitter AG		7,701		329,491
				1,025,370
Media 0.0%
CTS Eventim AG		2,636		163,284
Pharmaceuticals, Biotechnology & Life Sciences 0.4%
Gerresheimer AG		5,085		342,565
MorphoSys AG *		7,378		668,996
Stada Arzneimittel AG		15,367		722,384
				1,733,945
Real Estate 0.7%
Alstria Office REIT-AG *		17,882		239,812
Deutsche Euroshop AG		12,517		623,423
DIC Asset AG		13,312		142,849
GAGFAH S.A. *		26,336		439,507
LEG Immobilien AG		9,120		644,013
Patrizia Immobilien AG *		7,311		92,739
TAG Immobilien AG		29,577		371,709
				2,554,052
Semiconductors & Semiconductor Equipment 0.2%
Aixtron SE *		21,377		312,994
Dialog Semiconductor plc *		17,904		554,460
SMA Solar Technology AG *		1,560		62,509
				929,963
Software & Services 0.4%
Bechtle AG		3,292		291,088
Wirecard AG		26,288		1,147,882
				1,438,970
Technology Hardware & Equipment 0.2%
Jenoptik AG		10,228		175,923
Wincor Nixdorf AG		7,418		482,983
				658,906
Telecommunication Services 0.3%
Drillisch AG		8,216		303,205
Freenet AG		28,778		894,549
QSC AG		6,779		32,080
				1,229,834
Transportation 0.0%
Hamburger Hafen und Logistik AG		3,696		93,303
				17,961,776
Greece 0.8%
Capital Goods 0.1%
Ellaktor S.A. *		23,370		125,326
Frigoglass S.A. *		5,400		28,737
Metka S.A.		5,700		102,669
				256,732

6 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Consumer Services 0.2%
Intralot S.A. Integrated Lottery Systems & Services *		19,200		54,757
OPAP S.A.		41,525		706,020
				760,777
Diversified Financials 0.1%
Hellenic Exchanges - Athens Stock Exchange S.A. Holding		13,680		159,230
Marfin Investment Group Holdings S.A. *		171,000		109,202
				268,432
Energy 0.0%
Motor Oil Hellas Corinth Refineries S.A.		7,534		85,329
Materials 0.1%
Mytilineos Holdings S.A. *		19,651		172,151
Titan Cement Co. S.A. *		10,048		304,521
				476,672
Real Estate 0.0%
Eurobank Properties Real Estate Investment Co.		9,800		104,975
Retailing 0.2%
Folli Follie S.A. *		7,410		291,206
JUMBO S.A. *		20,777		310,163
				601,369
Utilities 0.1%
Public Power Corp. S.A.		22,470		337,276
The Athens Water Supply & Sewage Co. S.A.		6,118		79,309
				416,585
				2,970,871
Hong Kong 1.9%
Automobiles & Components 0.1%
Minth Group Ltd.		206,000		357,639
Xinchen China Power Holdings Ltd. *		172,000		95,618
				453,257
Capital Goods 0.1%
Louis XIII Holdings Ltd. *		64,500		53,827
Singamas Container Holdings Ltd.		520,000		109,326
Sinopoly Battery Ltd. *		1,520,000		98,027
Summit Ascent Holdings Ltd. *		72,000		113,113
				374,293
Consumer Durables & Apparel 0.1%
Goodbaby International Holdings Ltd.		167,000		85,946
Lung Cheong International Holdings Ltd. *		418,000		44,210
Pacific Textiles Holdings Ltd.		123,000		150,717
Stella International Holdings Ltd.		65,000		172,289
				453,162
Consumer Services 0.1%
NagaCorp Ltd.		133,343		122,285
Regal Hotels International Holdings Ltd.		64,000		39,128
REXLot Holdings Ltd. (c)		2,425,000		265,867
				427,280
Diversified Financials 0.1%
Liu Chong Hing Investment Ltd.		24,000		30,182
Value Partners Group Ltd. (c)		260,000		164,325
				194,507
Energy 0.2%
Anton Oilfield Services Group (c)		246,041		187,238
Honghua Group Ltd. (c)		493,677		116,527
Newocean Energy Holdings Ltd. (c)		160,626		107,112
Sino Oil & Gas Holdings Ltd. *(c)		6,165,000		189,253
SPT Energy Group, Inc. (c)		144,000		87,667
				687,797
Food, Beverage & Tobacco 0.1%
Vitasoy International Holdings Ltd.		228,000		308,197
Materials 0.1%
G-Resources Group Ltd. *		7,449,000		189,277
TCC International Holdings Ltd.		406,000		157,101
Yingde Gases Group Co., Ltd.		195,000		213,287
				559,665
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
The United Laboratories International Holdings Ltd. *		246,000		152,303
Real Estate 0.2%
COFCO Land Holdings Ltd. *		560,000		135,793
K Wah International Holdings Ltd.		260,000		180,757
Lai Sun Development *		2,906,000		70,467
Midland Holdings Ltd. *(c)		246,000		113,593
Sunlight Real Estate Investment Trust		260,000		108,991
Yuexiu Real Estate Investment Trust		520,000		248,164
				857,765
Retailing 0.2%
Chow Sang Sang Holdings International Ltd.		74,000		181,541
Emperor Watch & Jewellery Ltd.		1,490,000		107,624
Giordano International Ltd.		260,000		145,209
Luk Fook Holdings International Ltd.		80,000		202,246
New World Department Store China Ltd.		260,000		101,613
				738,233
Semiconductors & Semiconductor Equipment 0.1%
Landing International Development Ltd. *		1,710,000		116,897
United Photovoltaics Group Ltd. *(c)		510,000		41,442
Varitronix International Ltd.		146,000		153,289
				311,628
Technology Hardware & Equipment 0.2%
Ju Teng International Holdings Ltd.		260,000		198,196
TCL Communication Technology Holdings Ltd.		228,000		256,439
Truly International Holdings Ltd. (c)		376,000		229,394
				684,029
Telecommunication Services 0.1%
APT Satellite Holdings Ltd.		39,000		53,221
Citic 21CN Co., Ltd. *		416,000		332,137
CITIC Telecom International Holdings Ltd.		182,000		63,382

7

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
SmarTone Telecommunications Holding Ltd. (c)		130,000		149,066
				597,806
Transportation 0.2%
Pacific Basin Shipping Ltd.		864,000		538,262
SITC International Holdings Co., Ltd.		179,000		78,268
				616,530
				7,416,452
Ireland 0.6%
Capital Goods 0.2%
Kingspan Group plc		45,262		810,630
Consumer Services 0.1%
Paddy Power plc		7,392		527,336
Food, Beverage & Tobacco 0.3%
C&C Group plc		87,192		535,400
Glanbia plc		25,832		402,897
				938,297
Transportation 0.0%
Aer Lingus Group plc		53,257		103,194
				2,379,457
Israel 0.4%
Capital Goods 0.0%
Discount Investment Corp. *		10,270		89,423
Food & Staples Retailing 0.1%
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.		3,081		149,126
Health Care Equipment & Services 0.0%
Mazor Robotics Ltd. *		15,405		128,989
Insurance 0.1%
Menorah Mivtachim Holdings Ltd.		12,324		149,002
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Evogene Ltd. *		6,162		105,693
Kamada Ltd. *		4,390		34,672
				140,365
Real Estate 0.1%
Africa Israel Investments Ltd. *		32,864		69,078
Africa Israel Properties Ltd. *		3,745		71,579
Alony Hetz Properties & Investments Ltd.		15,405		113,198
Jerusalem Economy Ltd.		7,929		77,669
Jerusalem Oil Exploration *		2,280		101,165
Nitsba Holdings 1995 Ltd. *		5,700		85,048
				517,737
Semiconductors & Semiconductor Equipment 0.0%
Nova Measuring Instruments Ltd. *		13,312		143,124
Software & Services 0.0%
Allot Communications Ltd. *		6,656		89,213
Technology Hardware & Equipment 0.1%
AudioCodes Ltd. *		7,964		50,242
Gilat Satellite Networks Ltd. *		9,435		45,477
Ituran Location and Control Ltd.		5,317		126,794
				222,513
				1,629,492
Italy 3.5%
Automobiles & Components 0.1%
Piaggio & C S.p.A. *(c)		46,598		174,732
Banks 0.9%
Banca Carige S.p.A. *(c)		159,600		95,759
Banca Monte dei Paschi di Siena S.p.A. *(c)		20,178		684,493
Banca Popolare dell’Emilia Romagna SC *(c)		77,978		872,521
Banca Popolare di Milano Scarl *		969,000		885,907
Banca Popolare di Sondrio Scarl		69,900		462,412
Credito Emiliano S.p.A.		30,402		298,900
Credito Valtellinese Scarl *(c)		120,966		174,968
				3,474,960
Capital Goods 0.2%
Danieli & C Officine Meccaniche S.p.A.		18,511		442,794
Interpump Group S.p.A.		18,486		259,566
Trevi Finanziaria Industriale S.p.A.		5,521		54,431
				756,791
Consumer Durables & Apparel 0.2%
Brunello Cucinelli S.p.A. (c)		3,696		94,916
De’Longhi S.p.A.		6,656		148,135
Indesit Co. S.p.A. *		3,612		53,033
Safilo Group S.p.A. *(c)		3,239		75,667
Tod’s S.p.A. (c)		3,963		539,960
				911,711
Consumer Services 0.0%
Autogrill S.p.A. *		11,400		109,280
Diversified Financials 0.3%
Azimut Holding S.p.A.		26,207		718,076
Banca Generali S.p.A.		17,702		517,406
				1,235,482
Energy 0.1%
ERG S.p.A.		18,570		277,470
Saras S.p.A. *		73,944		109,477
				386,947
Health Care Equipment & Services 0.2%
DiaSorin S.p.A.		9,298		395,345
Sorin S.p.A. *		157,226		468,562
				863,907
Insurance 0.4%
Societa Cattolica di Assicurazioni Scarl		11,263		268,495
Unipol Gruppo Finanziario S.p.A.		56,147		338,487
UnipolSai S.p.A		219,698		756,668
UnipolSai S.p.A. RSP		13,571		45,629
				1,409,279
Materials 0.2%
Cementir Holding S.p.A.		8,992		77,424
Italcementi S.p.A.		27,975		317,602
Italcementi S.p.A. RSP		12,501		88,703

8 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Italmobiliare S.p.A. *		3,848		108,113
				591,842
Media 0.0%
Gruppo Editoriale L’Espresso S.p.A. *(c)		19,581		43,392
RCS MediaGroup S.p.A. *		38,365		79,574
				122,966
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Recordati S.p.A.		28,790		485,175
Real Estate 0.1%
Beni Stabili S.p.A. (c)		213,235		188,549
Retailing 0.1%
World Duty Free S.p.A. *		8,398		116,772
Yoox S.p.A. *		7,960		255,253
				372,025
Transportation 0.2%
Ansaldo STS S.p.A.		41,091		441,277
ASTM S.p.A.		4,699		74,764
Societa Iniziative Autostradali e Servizi S.p.A.		6,840		87,455
				603,496
Utilities 0.4%
A2A S.p.A.		334,651		401,394
ACEA S.p.A.		24,648		350,460
Hera S.p.A.		185,275		530,916
Iren S.p.A.		122,059		193,371
				1,476,141
				13,163,283
Japan 14.3%
Automobiles & Components 0.7%
Akebono Brake Industry Co., Ltd.		26,000		122,404
Daido Metal Co., Ltd.		10,000		106,541
HI-LEX Corp.		4,300		104,938
Keihin Corp.		13,000		194,722
Mitsuba Corp.		6,300		92,198
Musashi Seimitsu Industry Co., Ltd.		13,000		293,872
Nifco, Inc.		13,000		381,139
Nippon Seiki Co., Ltd.		8,000		138,857
Nissin Kogyo Co., Ltd.		16,700		306,441
Press Kogyo Co., Ltd.		28,000		102,649
Showa Corp.		13,000		141,570
Toyo Tire & Rubber Co., Ltd.		20,000		174,947
TPR Co., Ltd.		13,000		265,635
Unipres Corp.		8,000		173,139
				2,599,052
Banks 0.8%
Bank of the Ryukyus Ltd.		13,000		175,940
FIDEA Holdings Co., Ltd.		85,300		160,129
Jimoto Holdings, Inc.		43,000		84,525
The Bank of Iwate Ltd.		3,200		136,026
The Bank of Nagoya Ltd.		27,000		101,106
The Bank of Okinawa Ltd.		3,200		134,611
The Chiba Kogyo Bank Ltd.		18,200		123,784
The Fukui Bank Ltd.		127,000		294,580
The Kiyo Bank Ltd.		23,400		283,344
The Miyazaki Bank Ltd.		45,000		141,972
The Oita Bank Ltd.		48,000		167,006
The Toho Bank Ltd.		123,000		414,654
The Tokyo Tomin Bank Ltd. (c)		22,800		252,773
The Towa Bank Ltd.		182,000		166,357
The Yachiyo Bank Ltd.		4,700		139,737
TOMONY Holdings, Inc.		45,600		188,683
Tsukuba Bank Ltd.		31,400		105,855
				3,071,082
Capital Goods 3.5%
Aica Kogyo Co., Ltd.		24,600		534,819
Aida Engineering Ltd.		13,000		114,354
Asahi Diamond Industrial Co., Ltd.		12,300		198,744
Central Glass Co., Ltd.		130,000		438,252
CKD Corp.		6,900		59,272
Daifuku Co., Ltd.		9,500		123,903
Daihen Corp.		10,000		38,135
Denyo Co., Ltd.		13,000		189,356
Fuji Machine Manufacturing Co., Ltd.		12,800		103,160
Fujitec Co., Ltd.		6,000		66,932
Furukawa Co., Ltd.		35,000		66,391
Futaba Corp.		16,700		247,024
Hanwa Co., Ltd.		91,000		363,123
Hazama Ando Corp.		40,000		193,032
Hitachi Zosen Corp.		65,000		314,954
Inaba Denki Sangyo Co., Ltd.		13,800		431,992
Iwatani Corp.		23,000		132,242
Kanamoto Co., Ltd.		12,300		453,339
Kanematsu Corp.		76,000		123,249
Kato Works Co., Ltd.		6,000		35,029
Kitz Corp.		39,000		199,705
Komori Corp.		12,300		158,366
Kumagai Gumi Co., Ltd. *		48,000		125,490
Kyowa Exeo Corp.		39,300		540,764
Kyudenko Corp.		8,000		71,709
Maeda Corp.		32,000		238,085
Makino Milling Machine Co., Ltd.		14,000		111,318
Meidensha Corp.		29,000		115,721
Mirait Holdings Corp.		26,000		244,041
Miura Co., Ltd.		13,400		423,421
MonotaRO Co., Ltd.		4,800		110,488
Nachi-Fujikoshi Corp.		26,000		165,846
Namura Shipbuilding Co., Ltd.		8,100		65,679
NEC Capital Solutions Ltd.		1,800		30,818
Nichias Corp.		19,000		129,225
Nihon Trim Co., Ltd.		1,000		35,039
Nippon Steel & Sumikin Bussan Corp.		23,000		82,962
Nishimatsu Construction Co., Ltd.		75,000		294,118
Nishio Rent All Co., Ltd.		2,000		80,692
Nitto Boseki Co., Ltd.		67,000		250,233
Nitto Kogyo Corp.		4,800		92,985
Noritz Corp.		19,300		383,174
Obara Group, Inc.		2,000		76,662
Oiles Corp. (c)		13,000		291,700
Okabe Co., Ltd.		13,000		176,195
Okumura Corp.		96,000		406,664
OSG Corp.		12,300		209,987
OSJB Holdings Corp.		13,600		18,981
Penta-Ocean Construction Co., Ltd.		65,000		190,378
Raito Kogyo Co., Ltd.		8,400		62,085
Ryobi Ltd.		21,000		63,983
Sankyo Tateyama, Inc.		8,500		160,652
Sanwa Holdings Corp.		45,000		306,502

9

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Shima Seiki Manufacturing Ltd.		12,300		197,898
Shinmaywa Industries Ltd.		13,000		110,394
SHO-BOND Holdings Co., Ltd.		5,100		228,822
Showa Aircraft Industry Co., Ltd.		5,000		54,008
Sintokogio Ltd.		32,000		222,360
Sodick Co., Ltd.		26,700		97,096
Star Micronics Co., Ltd.		13,000		171,340
Sumitomo Densetsu Co., Ltd.		2,800		28,373
Sumitomo Mitsui Construction Co., Ltd. *		149,300		155,544
Tadano Ltd.		25,000		378,151
Taikisha Ltd.		13,000		288,633
Takasago Thermal Engineering Co., Ltd.		26,000		271,640
Takuma Co., Ltd.		10,000		60,150
Tekken Corp.		23,000		65,556
The Nippon Road Co., Ltd.		6,000		31,844
Toa Corp.		16,000		26,891
Tokyu Construction Co., Ltd.		20,200		85,767
Totetsu Kogyo Co., Ltd.		12,300		257,376
Tsubakimoto Chain Co.		24,000		185,405
Tsugami Corp.		5,000		26,046
Wakita & Co., Ltd.		3,000		35,677
YAMABIKO Corp.		1,800		74,215
Yokogawa Bridge Holdings Corp.		2,000		26,360
				13,220,516
Commercial & Professional Services 0.5%
Daiseki Co., Ltd.		13,800		242,919
Duskin Co., Ltd.		14,600		269,916
Kokuyo Co., Ltd.		22,800		176,134
Meitec Corp.		13,600		413,701
Mitsubishi Pencil Co., Ltd.		13,000		377,178
Nihon M&A Center, Inc.		4,800		124,500
Nissha Printing Co., Ltd.		6,800		103,927
Okamura Corp.		14,000		120,949
Pilot Corp.		3,200		135,240
Sanix, Inc. *(c)		6,400		94,416
				2,058,880
Consumer Durables & Apparel 0.7%
Alpine Electronics, Inc.		13,000		158,946
Foster Electric Co., Ltd.		5,500		60,003
Fujitsu General Ltd.		7,000		75,955
Gunze Ltd.		130,000		361,590
JVC Kenwood Corp. *		39,000		73,212
Mizuno Corp.		39,000		236,886
Pioneer Corp. *		73,800		155,949
Sangetsu Co., Ltd.		13,800		360,242
Seiko Holdings Corp.		28,000		112,006
Seiren Co., Ltd.		12,300		98,526
Tamron Co., Ltd.		7,800		178,470
Token Corp.		1,300		57,113
Tomy Co., Ltd.		49,200		248,067
TSI Holdings Co., Ltd.		36,900		239,363
Yondoshi Holdings, Inc.		4,600		82,736
				2,499,064
Consumer Services 0.6%
Accordia Golf Co., Ltd.		39,900		510,980
Colowide Co., Ltd. (c)		8,000		86,491
Doutor Nichires Holdings Co., Ltd.		24,600		419,490
Fuji Kyuko Co., Ltd. (c)		4,000		41,083
HIS Co., Ltd.		8,200		242,587
MOS Food Services, Inc.		6,300		131,269
Round One Corp.		16,300		108,939
Saizeriya Co., Ltd.		6,400		78,817
Tokyo Dome Corp.		54,000		265,900
Tokyotokeiba Co., Ltd.		27,000		78,284
Yoshinoya Holdings Co., Ltd.		12,500		160,573
Zensho Holdings Co., Ltd. (c)		13,000		123,809
				2,248,222
Diversified Financials 0.6%
Fuyo General Lease Co., Ltd.		12,300		489,002
IBJ Leasing Co., Ltd.		12,300		293,764
Ichiyoshi Securities Co., Ltd.		6,300		82,105
J Trust Co., Ltd.		25,600		310,486
Jaccs Co., Ltd.		19,000		84,407
Japan Securities Finance Co., Ltd.		26,000		160,991
kabu.com Securities Co., Ltd.		32,900		141,307
Kyokuto Securities Co., Ltd. (c)		4,400		65,949
Marusan Securities Co., Ltd.		12,100		86,458
Mito Securities Co., Ltd.		16,000		54,096
Monex Group, Inc.		20,400		68,571
Toyo Securities Co., Ltd.		9,000		25,564
Zenkoku Hosho Co., Ltd.		17,200		424,147
				2,286,847
Energy 0.2%
Itochu Enex Co., Ltd.		13,000		83,434
Modec, Inc.		3,200		71,048
Nippon Coke & Engineering Co., Ltd.		61,500		68,908
Nippon Gas Co., Ltd.		9,100		176,285
Shinko Plantech Co., Ltd.		13,000		100,683
Toyo Kanetsu KK		24,000		59,207
				559,565
Food & Staples Retailing 0.3%
Ain Pharmaciez, Inc.		1,900		86,555
Arcs Co., Ltd.		12,300		248,792
Cocokara fine, Inc.		13,000		369,129
Kasumi Co., Ltd.		17,100		120,504
Valor Co., Ltd.		12,300		194,513
Welcia Holdings Co., Ltd.		1,500		90,373
Yokohama Reito Co., Ltd.		16,200		124,989
				1,234,855
Food, Beverage & Tobacco 0.5%
Fuji Oil Co., Ltd.		24,600		307,787
Fujiya Co., Ltd.		123,000		230,901
Hokuto Corp.		13,000		249,408
Maruha Nichiro Corp.		12,300		194,150
Megmilk Snow Brand Co., Ltd.		13,000		167,635
Morinaga Milk Industry Co., Ltd.		123,000		471,473
Nippon Suisan Kaisha Ltd. *		49,200		155,223
				1,776,577
Health Care Equipment & Services 0.5%
Asahi Intecc Co., Ltd.		800		31,844
Jeol Ltd.		7,000		23,667
Nagaileben Co., Ltd.		13,000		274,962
Nihon Kohden Corp.		13,000		588,383
Nikkiso Co., Ltd.		5,000		57,890
Ship Healthcare Holdings, Inc.		10,000		353,826
Toho Holdings Co., Ltd.		26,000		501,371
				1,831,943

10 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Household & Personal Products 0.2%
Aderans Co., Ltd.		14,700		219,608
Dr Ci:Labo Co., Ltd.		2,000		64,082
Fancl Corp.		12,300		146,398
Mandom Corp.		12,200		415,480
				845,568
Materials 1.6%
ADEKA Corp.		39,000		450,774
Asahi Holdings, Inc.		13,000		217,849
Daio Paper Corp.		15,000		177,945
Earth Chemical Co., Ltd.		8,700		321,510
Fuji Seal International, Inc.		2,900		87,218
Fujimi, Inc.		13,000		150,641
Fujimori Kogyo Co., Ltd.		1,200		38,095
Hokuetsu Kishu Paper Co., Ltd.		34,200		166,723
Ishihara Sangyo Kaisha Ltd. *		123,000		96,712
Kureha Corp.		37,000		179,282
Kyoei Steel Ltd.		13,000		216,443
Nihon Nohyaku Co., Ltd.		22,800		240,448
Nihon Parkerizing Co., Ltd.		11,400		251,204
Nippon Light Metal Holdings Co., Ltd.		229,000		330,857
Nippon Soda Co., Ltd.		33,000		168,657
Nippon Yakin Kogyo Co., Ltd. *(c)		30,500		93,828
NOF Corp.		32,000		247,206
Pacific Metals Co., Ltd. *		32,000		151,280
Sanyo Special Steel Co., Ltd.		30,000		120,890
Sumitomo Bakelite Co., Ltd.		40,000		147,821
Sumitomo Seika Chemicals Co., Ltd.		9,000		59,000
Takasago International Corp.		22,000		104,438
Toagosei Co., Ltd.		58,000		253,673
Toho Zinc Co., Ltd.		30,000		98,482
Tokai Carbon Co., Ltd.		44,000		124,114
Tokuyama Corp.		123,000		356,627
Tokyo Ohka Kogyo Co., Ltd.		13,000		285,567
Tokyo Rope Manufacturing Co., Ltd. *		17,000		22,389
Tokyo Steel Manufacturing Co., Ltd.		26,100		120,566
Topy Industries Ltd.		83,000		151,732
Toyo Ink SC Holdings Co., Ltd.		50,000		219,175
UACJ Corp.		123,000		430,370
Yodogawa Steel Works Ltd.		40,000		159,222
				6,240,738
Media 0.1%
Avex Group Holdings, Inc.		8,400		143,323
Kadokawa Corp.		9,900		309,907
Next Co., Ltd. (c)		6,400		57,304
				510,534
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
JCR Pharmaceuticals Co., Ltd.		3,400		77,895
Nichi-iko Pharmaceutical Co., Ltd.		13,800		199,245
Nippon Shinyaku Co., Ltd.		10,000		194,801
Seikagaku Corp.		16,100		180,234
Torii Pharmaceutical Co., Ltd.		1,900		55,593
ZERIA Pharmaceutical Co., Ltd.		4,600		97,927
				805,695
Real Estate 0.4%
Daibiru Corp.		13,000		129,432
Daikyo, Inc.		85,000		181,287
Goldcrest Co., Ltd.		1,900		38,805
Heiwa Real Estate Co., Ltd.		13,000		197,916
Jowa Holdings Co., Ltd.		1,900		65,079
Keihanshin Building Co., Ltd.		36,900		190,765
Kenedix, Inc. *		58,500		254,135
Leopalace21 Corp. *		49,000		222,498
Relo Holdings, Inc.		1,200		69,114
Takara Leben Co., Ltd.		25,600		86,050
TOC Co., Ltd.		26,000		171,212
				1,606,293
Retailing 0.7%
AOKI Holdings, Inc.		5,200		73,085
Arcland Sakamoto Co., Ltd.		13,000		264,740
ASKUL Corp. (c)		8,300		202,799
Bic Camera, Inc.		13,000		95,700
DCM Holdings Co., Ltd.		26,000		177,090
EDION Corp.		24,600		167,312
Geo Holdings Corp.		12,300		100,702
Gulliver International Co., Ltd.		24,600		189,315
Jin Co., Ltd. (c)		3,100		87,475
Matsuya Co., Ltd.		12,300		124,396
The Daiei, Inc. *		24,150		71,445
Tsutsumi Jewelry Co., Ltd.		4,000		89,675
United Arrows Ltd.		11,900		493,567
Xebio Co., Ltd.		13,000		252,602
Yellow Hat Ltd.		13,000		282,756
				2,672,659
Semiconductors & Semiconductor Equipment 0.2%
Sanken Electric Co., Ltd.		22,000		167,576
Shindengen Electric Manufacturing Co., Ltd.		9,000		46,528
Tokyo Seimitsu Co., Ltd.		13,000		233,820
Ulvac, Inc. *		12,300		266,926
				714,850
Software & Services 0.6%
Ateam, Inc.		1,000		54,745
Broadleaf Co., Ltd.		5,200		90,512
Dwango Co., Ltd.		3,200		84,069
Fuji Soft, Inc.		12,300		252,540
GMO internet, Inc.		17,600		179,901
GMO Payment Gateway, Inc.		1,500		54,548
Gurunavi, Inc.		4,800		69,114
Ines Corp.		12,300		77,491
Internet Initiative Japan, Inc.		4,800		124,688
IT Holdings Corp.		12,300		208,536
NET One Systems Co., Ltd.		24,600		184,237
Nihon Unisys Ltd.		24,600		213,009
NSD Co., Ltd.		12,300		158,125
SMS Co., Ltd.		2,500		63,001
Transcosmos, Inc.		12,300		248,913
				2,063,429
Technology Hardware & Equipment 1.0%
Ai Holdings Corp.		12,300		211,679
Amano Corp.		13,400		133,282
Canon Electronics, Inc.		13,000		227,942
Daiwabo Holdings Co., Ltd.		130,000		236,375
Eizo Corp.		3,800		98,562
Enplas Corp.		2,000		130,326
Hitachi Kokusai Electric, Inc.		3,000		37,240
Horiba Ltd.		12,800		424,591
Hosiden Corp.		52,000		287,228
Japan Aviation Electronics Industry Ltd.		7,000		130,100

11

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Japan Cash Machine Co., Ltd. (c)		2,500		45,211
Mitsumi Electric Co., Ltd.		22,800		138,039
Nichicon Corp.		25,500		196,241
Nippon Chemi-Con Corp. *		30,000		89,931
Oki Electric Industry Co., Ltd.		130,000		267,040
Riso Kagaku Corp.		2,600		69,942
Roland DG Corp.		700		25,593
Ryosan Co., Ltd.		13,800		273,437
The Nippon Signal Co., Ltd.		22,800		202,801
Topcon Corp. (c)		14,600		290,436
Wacom Co., Ltd.		46,800		243,326
				3,759,322
Transportation 0.4%
Hamakyorex Co., Ltd.		3,100		88,876
Iino Kaiun Kaisha Ltd.		37,800		191,703
Maruzen Showa Unyu Co., Ltd.		31,000		104,811
Nankai Electric Railway Co., Ltd.		123,000		488,397
Nippon Konpo Unyu Soko Co., Ltd.		13,000		222,065
Nissin Corp.		37,000		107,642
Sankyu, Inc.		35,000		155,831
The Sumitomo Warehouse Co., Ltd.		32,000		158,828
				1,518,153
Utilities 0.0%
Saibu Gas Co., Ltd.		53,000		131,269
				54,255,113
Netherlands 2.0%
Capital Goods 0.6%
Aalberts Industries N.V.		21,695		714,491
Arcadis N.V.		14,680		519,319
Grontmij *		10,302		61,151
Koninklijke BAM Groep N.V.		59,179		309,525
Royal Imtech N.V. *(c)		108,288		169,486
TKH Group N.V.		8,748		307,977
				2,081,949
Commercial & Professional Services 0.0%
USG People N.V.		10,816		171,130
Consumer Durables & Apparel 0.0%
TomTom N.V. *		15,954		118,364
Diversified Financials 0.1%
BinckBank N.V.		22,924		268,109
Food, Beverage & Tobacco 0.3%
Corbion N.V.		19,736		440,318
Nutreco N.V.		16,087		709,912
				1,150,230
Insurance 0.2%
Delta Lloyd N.V.		37,519		912,067
Materials 0.2%
APERAM *		10,516		343,386
Koninklijke Ten Cate N.V.		8,925		254,472
				597,858
Real Estate 0.4%
Eurocommercial Properties N.V.		11,979		577,666
Vastned Retail N.V.		6,231		317,867
Wereldhave N.V.		5,083		453,407
				1,348,940
Semiconductors & Semiconductor Equipment 0.1%
ASM International N.V. (c)		9,637		401,672
Transportation 0.1%
PostNL N.V. *		102,968		505,256
				7,555,575
New Zealand 0.6%
Energy 0.1%
New Zealand Oil & Gas Ltd.		141,643		93,209
Z Energy Ltd.		46,215		152,648
				245,857
Food, Beverage & Tobacco 0.0%
a2 Milk Co., Ltd. *		82,160		54,414
Synlait Milk Ltd. *		20,540		54,066
				108,480
Health Care Equipment & Services 0.0%
Metlifecare Ltd.		25,675		95,923
Insurance 0.0%
Tower Ltd.		46,092		70,446
Materials 0.1%
Nuplex Industries Ltd.		61,770		183,571
Real Estate 0.1%
Goodman Property Trust		322,108		292,647
Precinct Properties New Zealand Ltd.		133,141		124,355
				417,002
Retailing 0.1%
Kathmandu Holdings Ltd.		48,341		148,177
Trade Me Group Ltd.		61,389		187,652
				335,829
Telecommunication Services 0.0%
Chorus Ltd. (c)		83,187		120,431
Transportation 0.1%
Freightways Ltd.		39,942		172,965
Mainfreight Ltd.		13,312		155,419
				328,384
Utilities 0.1%
Infratil Ltd.		195,797		406,484
Mighty River Power Ltd.		77,025		149,770
				556,254
				2,462,177
Norway 1.9%
Banks 0.1%
SpareBank 1 SR Bank A.S.A.		11,300		111,610
Sparebanken 1 SMN		40,748		359,832
				471,442
Commercial & Professional Services 0.1%
Tomra Systems A.S.A.		41,134		347,747
Diversified Financials 0.0%
Aker A.S.A., A Shares		3,696		136,740
Energy 0.9%
Archer Ltd. *		55,974		96,046
BW Offshore Ltd.		114,000		157,064
Det Norske Oljeselskap A.S.A. *(c)		22,800		241,607

12 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
DNO International A.S.A. *		252,095		914,944
Fred. Olsen Energy A.S.A.		7,084		194,133
Kvaerner A.S.A.		26,208		51,771
Petroleum Geo-Services A.S.A.		49,926		539,085
Prosafe SE		41,962		351,586
TGS Nopec Geophysical Co. A.S.A.		22,866		745,676
				3,291,912
Food, Beverage & Tobacco 0.3%
Austevoll Seafood A.S.A.		19,971		125,372
Cermaq A.S.A.		16,640		204,744
Marine Harvest A.S.A.		59,918		720,200
				1,050,316
Insurance 0.1%
Storebrand A.S.A. *		95,511		567,614
Real Estate 0.1%
Norwegian Property A.S.A. *		157,157		197,318
Semiconductors & Semiconductor Equipment 0.1%
Nordic Semiconductor A.S.A. *(c)		43,021		227,582
REC Silicon A.S.A. *		438,607		279,164
				506,746
Software & Services 0.1%
Atea A.S.A.		21,617		269,602
Opera Software A.S.A.		13,312		170,258
				439,860
Transportation 0.1%
Golden Ocean Group Ltd. (c)		63,357		115,185
Norwegian Air Shuttle A.S. *		1,809		75,285
Stolt-Nielsen Ltd.		3,081		84,846
Wilh Wilhelmsen A.S.A.		16,965		156,912
				432,228
				7,441,923
Portugal 0.6%
Banks 0.2%
Banco BPI S.A. - Reg’d *		56,485		134,114
Banco Comercial Portugues S.A. - Reg’d *		2,750,750		719,553
				853,667
Capital Goods 0.1%
Mota-Engil SGPS S.A.		14,378		103,983
Food & Staples Retailing 0.1%
Sonae		251,061		440,565
Materials 0.1%
Altri SGPS S.A.		35,749		111,026
Portucel S.A.		49,712		245,900
Semapa-Sociedade de Investimento e Gestao		3,376		47,956
				404,882
Media 0.1%
ZON OPTIMUS, SGPS, S.A.		56,382		383,142
				2,186,239
Republic of Korea 4.5%
Automobiles & Components 0.3%
Hanil E-Hwa Co., Ltd.		5,700		123,476
Kumho Tire Co., Inc. *		34,200		405,626
Nexen Tire Corp.		9,130		136,476
Ssangyong Motor Co. *		20,300		192,215
Sungwoo Hitech Co., Ltd.		6,000		85,866
				943,659
Banks 0.0%
JB Financial Group Co., Ltd.		18,054		132,016
Capital Goods 0.4%
Doosan Engine Co., Ltd. *		10,000		91,060
Hanjin Heavy Industries & Construction Co., Ltd. *		9,500		104,759
iMarketKorea, Inc.		6,000		205,254
Korea Aerospace Industries Ltd.		10,000		312,684
Korea Electric Terminal Co., Ltd.		2,000		84,101
LG International Corp.		9,293		248,220
LS Industrial Systems Co., Ltd.		3,426		216,602
S&T Dynamics Co., Ltd.		3,200		34,189
Sung Kwang Bend Co., Ltd.		3,300		67,119
Taewoong Co., Ltd. *		2,500		53,911
TK Corp. *		3,501		57,481
				1,475,380
Commercial & Professional Services 0.1%
KEPCO Plant Service & Engineer Co., Ltd.		2,850		181,303
Consumer Durables & Apparel 0.3%
Fila Korea Ltd.		1,500		131,004
Handsome Co., Ltd.		2,000		52,441
Hanssem Co., Ltd.		5,000		434,228
LF Corp.		5,800		155,205
Youngone Corp.		6,060		268,785
Youngone Holdings Co., Ltd.		1,780		136,091
				1,177,754
Consumer Services 0.4%
Grand Korea Leisure Co., Ltd.		2,500		100,838
Hana Tour Service, Inc.		2,970		188,354
Hotel Shilla Co., Ltd.		7,420		672,760
MegaStudy Co., Ltd.		600		39,287
Paradise Co., Ltd.		11,400		420,153
				1,421,392
Diversified Financials 0.2%
Hankook Tire Worldwide Co., Ltd.		5,650		129,315
KIWOOM Securities Co., Ltd.		2,840		115,248
Macquarie Korea Infrastructure Fund		88,740		554,082
				798,645
Energy 0.0%
SK Gas Ltd.		1,463		141,396
Food & Staples Retailing 0.1%
Dongsuh Co., Inc.		12,099		194,495
GS Retail Co., Ltd.		4,520		101,901
				296,396
Food, Beverage & Tobacco 0.3%
Binggrae Co., Ltd.		960		79,043
Daesang Corp.		7,130		330,572
Lotte Food Co., Ltd.		160		119,349
Maeil Dairy Industry Co., Ltd.		2,000		64,987
Namyang Dairy Products Co., Ltd.		80		72,848
Ottogi Corp.		763		330,943

13

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Samyang Holdings Corp.		1,310		92,966
				1,090,708
Health Care Equipment & Services 0.1%
Chabio & Diostech Co., Ltd. *(a)		4,647		73,791
Medipost Co., Ltd. *		1,901		119,814
				193,605
Household & Personal Products 0.0%
Cosmax BTI, Inc.		763		36,385
Cosmax, Inc. *		1,496		120,536
				156,921
Insurance 0.2%
Korean Reinsurance Co.		24,174		236,954
LIG Insurance Co., Ltd.		10,300		286,223
Meritz Fire & Marine Insurance Co., Ltd.		17,092		213,608
				736,785
Materials 0.5%
Foosung Co., Ltd. *		20,000		64,105
Hanil Cement Co., Ltd.		1,330		147,314
Hansol Paper Co.		7,690		87,815
Huchems Fine Chemical Corp.		4,000		93,707
Kolon Industries, Inc.		2,920		198,922
OCI Materials Co., Ltd.		2,000		71,162
Poongsan Corp.		5,250		139,973
Seah Besteel Corp.		5,000		138,453
SK Chemicals Co., Ltd.		5,070		299,668
Soulbrain Co., Ltd.		1,540		52,833
Ssangyong Cement Industrial Co., Ltd. *		7,030		68,908
Taekwang Industrial Co., Ltd.		240		300,647
Young Poong Corp.		186		227,532
				1,891,039
Media 0.2%
CJ CGV Co., Ltd.		4,500		204,225
CJ E&M Corp. *		5,700		241,364
KT Skylife Co., Ltd.		2,500		56,239
SM Entertainment Co. *		5,350		230,477
YG Entertainment, Inc.		756		32,976
				765,281
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Chong Kun Dang Pharmaceutical Corp.		3,444		236,307
Daewoong Pharmaceutical Co., Ltd.		1,946		111,968
Dong-A Socio Holdings Co., Ltd.		1,113		136,916
Dong-A ST Co., Ltd.		1,254		121,811
Green Cross Corp.		1,070		129,004
Hanmi Pharm Co., Ltd. *		966		98,475
Ilyang Pharmaceutical Co., Ltd.		1,500		37,493
LG Life Sciences Ltd. *		3,920		129,680
Medy-Tox, Inc.		808		104,544
Seegene, Inc. *		1,250		68,981
ViroMed Co., Ltd. *		1,507		72,972
				1,248,151
Retailing 0.3%
CJ O Shopping Co., Ltd.		618		218,681
GS Home Shopping, Inc.		705		166,472
Hyundai Greenfood Co. Ltd.		13,170		217,521
Hyundai Home Shopping Network Corp.		1,540		230,200
Interpark Corp.		7,700		86,419
Kolao Holdings		6,780		167,805
LOTTE Himart Co., Ltd.		2,000		132,131
				1,219,229
Semiconductors & Semiconductor Equipment 0.3%
Duksan Hi-Metal Co., Ltd. *		3,430		55,475
Eo Technics Co., Ltd.		4,000		270,535
Hansol Technics Co., Ltd. *		1,340		28,043
Iljin Display Co., Ltd.		3,430		36,647
Lumens Co., Ltd. *		15,000		173,495
Seoul Semiconductor Co., Ltd.		9,780		370,033
Wonik IPS Co., Ltd. *		9,800		111,429
				1,045,657
Software & Services 0.1%
Ahnlab, Inc.		1,335		64,185
Daou Technology, Inc.		4,100		49,432
Gamevil, Inc. *		1,891		122,706
Hancom, Inc.		5,000		124,240
				360,563
Technology Hardware & Equipment 0.2%
Chadiostech Co., Ltd. *(a)		1,752		27,836
Daeduck Electronics Co.		9,350		67,087
Daeduck GDS Co., Ltd.		3,200		45,795
Humax Co., Ltd.		9,800		115,271
LG Innotek Co., Ltd. *		2,750		343,682
Partron Co., Ltd.		11,480		136,158
SFA Engineering Corp.		3,081		125,330
Sindoh Co., Ltd.		750		49,770
				910,929
Telecommunication Services 0.0%
SK Broadband Co., Ltd. *		46,851		168,079
Transportation 0.1%
Asiana Airlines, Inc. *		23,700		112,437
Hanjin Transportation Co., Ltd.		3,950		133,383
Pan Ocean Co., Ltd. *		19,950		61,598
				307,418
Utilities 0.1%
E1 Corp.		1,395		95,853
Samchully Co., Ltd.		1,305		190,595
				286,448
				16,948,754
Singapore 2.2%
Capital Goods 0.1%
Tat Hong Holdings Ltd. (c)		130,000		86,069
United Engineers Ltd.		28,000		52,933
Vard Holdings Ltd. *		130,000		110,956
Yoma Strategic Holdings Ltd. (c)		209,813		135,563
				385,521
Commercial & Professional Services 0.0%
United Envirotech Ltd.		81,000		83,672
Consumer Services 0.1%
GuocoLeisure Ltd. (c)		246,000		226,642

14 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Raffles Education Corp., Ltd. *		492,000		125,586
				352,228
Diversified Financials 0.1%
ARA Asset Management Ltd.		100,000		140,390
Energy 0.2%
Ezion Holdings Ltd. (c)		198,400		348,167
Ezra Holdings Ltd.		276,000		238,870
Swiber Holdings Ltd.		246,000		112,831
				699,868
Food, Beverage & Tobacco 0.1%
First Resources Ltd.		123,000		246,265
GMG Global Ltd.		2,512,000		178,334
Super Group Ltd. (c)		80,000		94,444
				519,043
Health Care Equipment & Services 0.2%
Biosensors International Group Ltd. (c)		260,000		197,025
Raffles Medical Group Ltd.		130,000		380,569
Religare Health Trust		130,000		88,142
				665,736
Materials 0.0%
Midas Holdings Ltd. (c)		260,000		94,364
Media 0.0%
Asian Pay Television Trust		96,000		58,198
Real Estate 1.2%
AIMS AMP Capital Industrial REIT		123,000		142,265
Ascendas India Trust		130,000		81,921
Ascott Residence Trust		130,000		127,548
Cache Logistics Trust		123,000		118,717
Cambridge Industrial Trust		123,000		76,038
CDL Hospitality Trusts		246,000		340,454
Far East Hospitality Trust		123,000		87,321
Frasers Centrepoint Trust		130,000		198,580
Frasers Commercial Trust		246,000		266,869
Ho Bee Land Ltd.		123,000		218,793
Keppel REIT Management Ltd.		369,000		384,114
Lippo Malls Indonesia Retail Trust		390,000		125,992
Mapletree Commercial Trust		369,000		395,888
Mapletree Greater China Commercial Trust		369,000		263,435
Mapletree Industrial Trust		369,000		423,850
Mapletree Logistics Trust		624,000		589,830
Parkway Life Real Estate Investment Trust		130,000		245,762
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (c)		130,000		109,919
Starhill Global REIT		390,000		259,762
Ying Li International Real Estate Ltd. *		246,000		59,849
				4,516,907
Software & Services 0.0%
CSE Global Ltd. (c)		130,000		57,552
Transportation 0.1%
SATS Ltd.		150,000		373,310
Utilities 0.1%
CitySpring Infrastructure Trust		369,000		144,227
Hyflux Ltd. (c)		123,000		116,264
				260,491
				8,207,280
Spain 1.9%
Automobiles & Components 0.0%
Cie Automotive S.A.		5,700		74,163
Capital Goods 0.6%
Abengoa S.A.		135,660		646,977
Construcciones y Auxiliar de Ferrocarriles S.A.		799		373,419
Fomento de Construcciones y Contratas S.A. *		5,213		112,321
Gamesa Corp. Tecnologica S.A. *		40,878		478,761
Obrascon Huarte Lain S.A.		9,514		414,721
Sacyr S.A. *		38,623		262,039
				2,288,238
Commercial & Professional Services 0.1%
Prosegur Cia de Seguridad S.A.		45,228		325,860
Consumer Services 0.1%
Melia Hotels International S.A. (c)		13,839		177,226
NH Hoteles S.A. *		30,762		186,585
				363,811
Diversified Financials 0.2%
Bolsas y Mercados Espanoles S.A.		13,312		608,524
Energy 0.1%
Tecnicas Reunidas S.A.		5,880		366,155
Food, Beverage & Tobacco 0.2%
Ebro Foods S.A.		22,258		505,697
Viscofan S.A.		7,790		447,357
				953,054
Insurance 0.1%
Grupo Catalana Occidente S.A.		14,632		552,063
Materials 0.1%
Ence Energia y Celulosa S.A. *		68,295		197,101
Media 0.1%
Atresmedia Corp de Medios de Comunicaion S.A. *		19,836		312,356
Promotora de Informaciones S.A., Class A *(c)		100,811		49,247
				361,603
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Almirall S.A. *		15,824		256,089
Faes Farma S.A.		53,257		158,788
Zeltia S.A. *		53,115		202,938
				617,815
Software & Services 0.1%
Indra Sistemas S.A.		22,800		411,297
Telecommunication Services 0.0%
Let’s GOWEX S.A. (c)		5,315		146,140
				7,265,824

15

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Sweden 3.6%
Capital Goods 0.9%
Concentric AB		4,000		59,434
Haldex AB		6,718		84,985
Indutrade AB		2,280		102,400
Lindab International AB *		15,687		187,524
NCC AB, B Shares		20,768		728,778
Nibe Industrier AB		7,866		228,219
Peab AB		56,219		448,173
Saab AB, Class B		4,929		141,309
Trelleborg AB, B Shares		59,811		1,307,305
				3,288,127
Commercial & Professional Services 0.2%
Intrum Justitia AB		6,656		207,561
Loomis AB, B Shares		21,932		617,276
				824,837
Consumer Durables & Apparel 0.1%
JM AB		13,312		490,254
Nobia AB		8,088		71,742
				561,996
Consumer Services 0.2%
Betsson AB *		9,444		326,596
Betsson AB, Redemption Shares *		9,444		12,936
Rezidor Hotel Group AB *		49,242		314,780
				654,312
Diversified Financials 0.3%
Avanza Bank Holding AB		10,026		395,504
Investment AB Oresund *		9,298		214,365
L E Lundbergforetagen AB, B Shares		7,349		363,176
				973,045
Food & Staples Retailing 0.2%
Axfood AB		6,800		371,574
ICA Gruppen AB		14,204		475,685
				847,259
Food, Beverage & Tobacco 0.1%
AarhusKarlshamn AB		7,559		496,789
Materials 0.3%
BillerudKorsnas AB		31,961		480,872
Hexpol AB		4,383		419,947
SSAB AB, A Shares *(c)		26,193		251,354
SSAB AB, B Shares *(c)		8,987		75,411
				1,227,584
Media 0.0%
Eniro AB *		19,886		158,232
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Meda AB, A Shares		47,656		835,444
Swedish Orphan Biovitrum AB *		28,878		368,989
				1,204,433
Real Estate 0.8%
Castellum AB		45,464		783,404
Fabege AB		40,855		577,990
Fastighets AB Balder, B Shares *		10,473		137,974
Hufvudstaden AB, A Shares		33,295		481,254
Kungsleden AB		32,781		256,420
Wallenstam AB, B Shares		26,627		458,419
Wihlborgs Fastigheter AB		16,543		317,006
				3,012,467
Retailing 0.1%
CDON Group AB *(c)		15,468		65,997
KappAhl AB *		7,574		44,221
Mekonomen AB		5,577		154,877
				265,095
Technology Hardware & Equipment 0.1%
Axis Communications AB (c)		9,294		266,867
Transportation 0.0%
SAS AB *		28,038		53,308
				13,834,351
Switzerland 3.4%
Automobiles & Components 0.1%
Autoneum Holding AG *		1,000		206,052
Banks 0.2%
Basler Kantonalbank		1,379		108,059
St. Galler Kantonalbank AG - Reg’d		432		172,036
Valiant Holding AG - Reg’d		4,243		454,463
				734,558
Capital Goods 0.9%
AFG Arbonia-Forster Holding AG - Reg’d *		2,463		78,385
Belimo Holding AG - Reg’d		106		285,291
Bucher Industries AG - Reg’d		1,439		476,876
Burckhardt Compression Holding AG		260		131,680
Georg Fischer AG - Reg’d *		1,147		866,072
Huber & Suhner AG - Reg’d		5,461		289,559
Meyer Burger Technology AG *		16,927		233,848
OC Oerlikon Corp. AG - Reg’d *		40,579		621,883
Rieter Holding AG - Reg’d *		1,513		348,483
Schweiter Technologies AG		284		202,846
				3,534,923
Commercial & Professional Services 0.1%
Gategroup Holding AG *		3,328		89,719
Kaba Holding AG, B Shares - Reg’d *		778		364,436
				454,155
Consumer Durables & Apparel 0.1%
China Hongxing Sports Ltd. *(a)(b)		884,000		—
Forbo Holding AG - Reg’d *		459		465,957
				465,957
Consumer Services 0.1%
Kuoni Reisen Holding AG - Reg’d *		807		351,164
Diversified Financials 0.1%
Vontobel Holding AG - Reg’d		10,286		380,281
Food, Beverage & Tobacco 0.1%
Emmi AG *		520		183,959
Health Care Equipment & Services 0.1%
Nobel Biocare Holding AG - Reg’d *		21,234		317,103
Straumann Holding AG - Reg’d		529		117,700
				434,803
Insurance 0.2%
Helvetia Holding AG - Reg’d		1,391		664,030

16 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Materials 0.1%
Schmolz + Bickenbach AG - Reg’d *		232,667		387,800
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Basilea Pharmaceutica *		497		60,488
Tecan Group AG - Reg’d		2,724		325,436
				385,924
Real Estate 0.2%
Allreal Holding AG - Reg’d *		2,550		349,147
Mobimo Holding AG - Reg’d *		1,856		391,983
				741,130
Retailing 0.3%
Dufry AG - Reg’d *		5,970		988,377
Valora Holding AG - Reg’d *		807		216,837
				1,205,214
Semiconductors & Semiconductor Equipment 0.1%
ams AG		2,394		393,131
Software & Services 0.1%
Temenos Group AG - Reg’d *		12,925		467,003
Technology Hardware & Equipment 0.1%
Kudelski S.A.		5,682		96,294
Logitech International S.A. - Reg’d		26,717		351,166
				447,460
Transportation 0.3%
Flughafen Zuerich AG - Reg’d		747		466,692
Panalpina Welttransport Holding AG - Reg’d		4,155		677,666
				1,144,358
Utilities 0.1%
Alpiq Holding AG *		497		58,376
BKW AG		4,233		146,790
				205,166
				12,787,068
United Kingdom 20.6%
Banks 0.2%
Paragon Group of Cos. plc		92,697		584,159
Capital Goods 2.8%
Balfour Beatty plc		145,840		577,559
Bodycote plc		48,224		603,429
Carillion plc		104,402		620,271
Chemring Group plc		33,883		127,592
DCC plc		19,533		1,150,006
Diploma plc		17,100		187,585
Fenner plc		46,042		270,300
Galliford Try plc		18,486		350,385
Grafton Group plc		53,437		511,802
Interserve plc		36,273		393,347
Keller Group plc		13,312		213,018
Kentz Corp., Ltd.		16,439		200,463
Kier Group plc		9,298		264,820
Morgan Advanced Materials plc		65,233		371,148
Morgan Sindall Group plc		12,324		168,164
Qinetiq Group plc		164,097		575,269
Rotork plc		19,467		849,958
Senior plc		113,357		563,193
SIG plc		166,220		549,254
Speedy Hire plc		60,715		56,267
Spirax-Sarco Engineering plc		17,924		859,554
Ultra Electronics Holdings plc		16,778		520,638
Vesuvius plc		71,126		546,648
				10,530,670
Commercial & Professional Services 1.2%
Berendsen plc		39,085		651,659
Cape plc		19,124		97,436
De La Rue plc		28,394		409,114
Hays plc		228,000		578,243
HomeServe plc		70,045		396,881
Michael Page International plc		66,340		510,421
Mitie Group plc		88,513		497,811
Regus plc		161,924		522,565
RPS Group plc		54,505		265,953
Shanks Group plc		93,199		167,270
WS Atkins plc		28,779		633,818
				4,731,171
Consumer Durables & Apparel 0.5%
Bellway plc		32,815		759,584
Bovis Homes Group plc		32,869		418,183
Crest Nicholson Holdings plc		12,324		69,539
Redrow plc		88,025		396,142
Ted Baker plc		2,314		74,445
				1,717,893
Consumer Services 1.5%
888 Holdings plc		14,669		30,904
Betfair Group plc		13,312		221,503
Bwin.Party Digital Entertainment plc		186,401		373,629
Dignity plc		16,531		390,969
Domino’s Pizza Group plc		38,401		362,317
Enterprise Inns plc *		100,622		229,201
Greene King plc		49,011		702,884
J.D. Wetherspoon plc		25,476		343,139
Ladbrokes plc		139,083		356,002
Marston’s plc		112,323		284,492
Millennium & Copthorne Hotels plc		31,452		301,765
Mitchells & Butlers plc *		67,574		476,957
Spirit Pub Co. plc		78,383		105,838
The Restaurant Group plc		54,472		546,385
Thomas Cook Group plc *		304,536		837,735
				5,563,720
Diversified Financials 1.8%
Brewin Dolphin Holdings plc		17,432		93,216
Close Brothers Group plc		34,777		774,082
Henderson Group plc		169,762		710,453
IG Group Holdings plc		81,096		818,199
Intermediate Capital Group plc		99,536		698,047
International Personal Finance plc		60,906		622,159
Jupiter Fund Management plc		66,569		448,090
Man Group plc		311,630		524,281
Provident Financial plc		30,714		1,077,760
Rathbone Brothers plc		10,853		375,191
SVG Capital plc *		42,468		309,867
Tullett Prebon plc		62,866		305,589
				6,756,934
Energy 1.1%
Afren plc *		247,393		633,237
Asia Resource Minerals plc *		15,113		50,256

17

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Cairn Energy plc *		83,519		276,539
EnQuest plc *		168,680		398,090
Genel Energy plc *		28,500		505,294
Heritage Oil plc *		46,186		246,200
Hunting plc		38,716		532,511
Lamprell plc *		38,022		105,709
Ophir Energy plc *		95,398		411,241
Premier Oil plc		115,894		684,270
Salamander Energy plc *		66,257		164,759
SOCO International plc *		49,980		352,103
				4,360,209
Food & Staples Retailing 0.2%
Booker Group plc		284,338		679,155
Greggs plc		28,087		245,923
				925,078
Food, Beverage & Tobacco 0.5%
Britvic plc		63,173		791,016
Cranswick plc		16,021		340,210
Dairy Crest Group plc		44,025		344,858
Devro plc		56,649		244,202
Greencore Group plc		41,874		204,672
Premier Foods plc *		100,491		99,450
				2,024,408
Health Care Equipment & Services 0.2%
NMC Health plc		7,555		61,461
Synergy Health plc		11,400		242,464
UDG Healthcare plc		54,444		314,147
				618,072
Insurance 1.1%
Amlin plc		109,744		865,173
Beazley plc		136,578		560,352
Catlin Group Ltd.		73,733		647,445
esure Group plc		49,296		219,947
Hiscox Ltd.		76,271		870,586
Jardine Lloyd Thompson Group plc		23,211		403,735
Lancashire Holdings Ltd.		42,974		467,815
Partnership Assurance Group plc		12,225		26,780
Phoenix Group Holdings		25,638		279,526
				4,341,359
Materials 1.3%
African Barrick Gold plc		22,392		81,504
Alent plc		64,964		353,055
Centamin plc *		272,569		278,203
DS Smith plc		226,308		1,205,224
Elementis plc		103,836		498,125
Essentra plc		54,778		725,408
Evraz plc *		90,619		159,296
Hochschild Mining plc *		28,446		70,736
Kazakhmys plc *		53,475		248,010
Kenmare Resources plc *		443,075		76,177
Petra Diamonds Ltd. *		70,680		184,590
RPC Group plc		33,283		339,988
Synthomer plc		51,300		225,532
Victrex plc		19,231		582,241
				5,028,089
Media 0.5%
Cineworld Group plc		39,900		229,892
Entertainment One Ltd. *		13,322		66,389
ITE Group plc		58,583		229,938
Rightmove plc		21,274		817,877
UBM plc		46,598		526,416
				1,870,512
Pharmaceuticals, Biotechnology & Life Sciences 0.6%
BTG plc *		87,037		870,840
Dechra Pharmaceuticals plc		19,971		232,814
Genus plc		15,475		277,740
Hikma Pharmaceuticals plc		32,686		934,782
				2,316,176
Real Estate 1.6%
Big Yellow Group plc		48,079		402,904
Capital & Counties Properties plc		155,687		882,398
Countrywide plc		17,446		159,191
Derwent London plc		21,468		985,577
Development Securities plc		21,081		83,715
Foxtons Group plc		26,702		147,758
Grainger plc		101,978		371,185
Great Portland Estates plc		78,749		859,904
Hansteen Holdings plc		123,243		223,260
Helical Bar plc		40,947		274,730
Londonmetric Property plc		145,587		354,091
Savills plc		42,016		447,520
Shaftesbury plc		52,968		595,712
The Unite Group plc		54,763		387,452
				6,175,397
Retailing 1.8%
Carphone Warehouse Group plc		51,300		275,354
Darty plc		128,543		185,965
Debenhams plc		270,132		345,040
Dixons Retail plc *		846,523		688,660
Dunelm Group plc		19,971		306,510
Halfords Group plc		57,135		466,623
Home Retail Group plc		194,018		613,122
Howden Joinery Group plc		153,444		821,813
Inchcape plc		102,500		1,069,395
Mothercare plc *		18,653		57,100
N Brown Group plc		71,668		563,796
Ocado Group plc *		97,573		632,890
SuperGroup plc *		7,609		148,816
WH Smith plc		31,947		554,619
				6,729,703
Semiconductors & Semiconductor Equipment 0.1%
CSR plc		39,459		392,487
Software & Services 0.7%
Aveva Group plc		14,111		529,951
Computacenter plc		23,954		245,897
Fidessa Group plc		10,113		392,695
Micro Focus International plc		34,964		491,168
Moneysupermarket.com Group plc		61,620		182,945
Playtech plc		24,648		282,375
SDL plc *		13,312		72,122
Telecity Group plc		37,264		444,409
Xchanging plc		29,732		75,181
				2,716,743
Technology Hardware & Equipment 1.2%
Domino Printing Sciences plc		22,699		296,408
Electrocomponents plc		105,643		506,970
Halma plc		73,228		727,148
Laird plc		74,647		376,003

18 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Oxford Instruments plc		14,770		324,298
Pace plc		67,853		427,028
Premier Farnell plc		94,510		338,454
Renishaw plc		6,656		189,572
Spectris plc		21,577		830,973
Spirent Communications plc		159,792		280,089
Xaar plc		12,260		177,676
				4,474,619
Telecommunication Services 0.4%
Cable & Wireless Communications plc		318,373		283,032
Colt Group S.A. *		123,837		290,806
Kcom Group plc		119,829		186,423
TalkTalk Telecom Group plc		133,141		716,424
				1,476,685
Transportation 0.9%
BBA Aviation plc		113,170		594,535
Firstgroup plc *		298,633		701,778
Go-Ahead Group plc		12,827		473,339
National Express Group plc		118,762		552,198
Northgate plc		20,520		179,668
Stagecoach Group plc		104,256		681,484
Stobart Group Ltd. (c)		136,617		342,013
				3,525,015
Utilities 0.4%
APR Energy plc (c)		16,781		224,618
Pennon Group plc		76,197		1,002,024
Telecom Plus plc		5,920		151,729
				1,378,371
				78,237,470
Total Common Stock
(Cost $313,634,156)				375,606,234
Other Investment Companies 0.4% of net assets
Australia 0.0%
Platinum Capital Ltd.		49,882		81,244
Switzerland 0.2%
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
BB Biotech AG - Reg’d *		3,374		562,365
United Kingdom 0.1%
Real Estate 0.1%
F&C Commercial Property Trust Ltd.		141,435		288,479
United States 0.1%
Equity Fund 0.1%
iShares MSCI EAFE Small - Cap ETF		4,500		236,880
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (d)		182,942		182,942
				419,822
Total Other Investment Companies
(Cost $1,039,147)				1,351,910
Preferred Stock 0.3% of net assets
Germany 0.2%
Capital Goods 0.1%
Jungheinrich AG		3,770		273,680
Health Care Equipment & Services 0.1%
Draegerwerk AG & Co. KGaA		1,368		142,467
Sartorius AG		1,596		193,826
				336,293
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Biotest AG		1,303		160,021
				769,994
Italy 0.1%
Insurance 0.1%
Unipol Gruppo Finanziario S.p.A.		73,944		417,727
Total Preferred Stock
(Cost $898,834)				1,187,721
Rights 0.0% of net assets
Italy 0.0%
Banks 0.0%
Credito Valtellinese Scarl *		120,966		82,532
Total Rights
(Cost $57,573)				82,532
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.05%, 06/19/14 (e)		8,500		8,500
Total Short-Term Investment
(Cost $8,500)				8,500
End of Investments

19

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Collateral Invested for Securities on Loan 2.5% of net assets
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (d)		9,652,441		9,652,441
Total Collateral Invested for Securities on Loan
(Cost $9,652,441)				9,652,441
End of Collateral Invested for Securities on Loan

At 05/31/14, the tax basis cost of the fund’s investments was $315,648,607 and the unrealized appreciation and depreciation were $78,286,339 and ($15,698,049), respectively, with a net unrealized appreciation of $62,588,290.

*	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 $132,932 or 0.0% of net assets.
(c)	All or a portion of this security is on loan. Securities on loan were valued at $9,189,389. Non-Cash Collateral received for securities on loan amounted to $127,837.
(d)	The rate shown is the 7-day yield.
(e)	The rate shown is the purchase yield.

ETF —	Exchange Traded Fund
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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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

20 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (Level 3 measurements). If inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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.

21

 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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$339,812,655		$—		$—		$339,812,655
Australia1		15,571,500		—		—		15,571,500
Energy		1,023,544		—		132,932		1,156,476
Materials		1,981,793		—		135,056		2,116,849
Republic of Korea1		15,844,220		—		—		15,844,220
Health Care Equipment & Services		119,814		—		73,791		193,605
Technology Hardware & Equipment		883,093		—		27,836		910,929
Other Investment Companies1		1,351,910		—		—		1,351,910
Preferred Stock1		1,187,721		—		—		1,187,721
Rights1		82,532		—		—		82,532
Short-Term Investment1		—		8,500		—		8,500
Total		$377,858,782		$8,500		$369,615		$378,236,897
Other Financial Instruments
Collateral Invested for Securities on Loan		$9,652,441		$—		$—		$9,652,441

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			Appreciation			Gross		Gross			Transfers		Transfers		May 31,
Investments in Securities	2013		(Losses)			(Depreciation)			Purchases		Sales			in		out		2014
Common Stock
Australia		$—		($52,251	)		($60,876	)		$121,112		($71,050	)		$331,053		$—		$267,988
Republic of Korea		—		—			44,952			6,372		(6,372	)		56,675		—		101,627
Rights
Australia		13,988		8,461			(13,988	)		—		(8,461	)		—		—		—
Total		$13,988		($43,790	)		($29,912	)		$127,484		($85,883	)		$387,728		$—		$369,615

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 into 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 May 31, 2014.

REG56691MAY14

22 

Schwab Strategic Trust
Schwab Emerging Markets Equity ETF™

Portfolio Holdings as of May 31, 2014 (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				($)		($)
	94	.1%	Common Stock		975,907,142		1,027,593,116
	0	.4%	Other Investment Companies		3,996,479		4,003,969
	5	.5%	Preferred Stock		69,820,667		60,176,219
	0	.0%	Rights		—		—
	0	.0%	Warrants		—		28,938
	100	.0%	Total Investments		1,049,724,288		1,091,802,242
	1	.2%	Collateral Invested for Securities on Loan		13,223,563		13,223,563
	(1	.2)%	Other Assets and Liabilities, Net				(13,740,770	)
	100	.0%	Net Assets				1,091,285,035

	Number		Value
Security	of Shares		($)
Common Stock 94.1% of net assets
Brazil 7.6%
Banks 0.7%
Banco Bradesco S.A.		162,555		2,316,158
Banco do Brasil S.A.		259,852		2,637,850
Banco Santander Brasil S.A.		295,632		1,984,894
Itau Unibanco Holding S.A.		81,410		1,173,759
				8,112,661
Capital Goods 0.3%
Embraer S.A.		232,579		2,114,213
WEG S.A.		97,261		1,127,821
				3,242,034
Consumer Durables & Apparel 0.1%
Cyrela Brazil Realty S.A. Empreendimentos e Participacoes		70,404		414,944
MRV Engenharia e Participacoes S.A.		103,920		318,286
				733,230
Consumer Services 0.2%
Anhanguera Educacional Participacoes S.A.		129,900		932,387
Kroton Educacional S.A.		74,344		1,884,908
				2,817,295
Diversified Financials 0.4%
BM&FBovespa S.A.		619,945		3,034,705
CETIP S.A. - Mercados Organizados		45,478		587,572
Grupo BTG Pactual		86,662		1,313,617
				4,935,894
Energy 1.1%
Cosan S.A. Industria e Comercio		43,300		726,605
Petroleo Brasileiro S.A.		1,169,100		8,203,845
Ultrapar Participacoes S.A. ADR		129,900		3,135,786
				12,066,236
Food & Staples Retailing 0.1%
Raia Drogasil S.A.		86,600		733,555
Food, Beverage & Tobacco 1.7%
AMBEV S.A. ADR		1,505,108		10,595,960
BRF S.A. ADR		278,419		6,008,282
JBS S.A.		181,860		608,078
M Dias Branco S.A.		10,900		468,403
Souza Cruz S.A.		129,900		1,329,086
				19,009,809
Household & Personal Products 0.2%
Hypermarcas S.A. *		86,483		698,249
Natura Cosmeticos S.A.		66,295		1,141,147
				1,839,396
Insurance 0.3%
BB Seguridade Participacoes S.A.		180,781		2,296,988
Porto Seguro S.A.		34,640		481,675
Sul America S.A.		42,022		323,729
				3,102,392
Materials 0.7%
Companhia Siderurgica Nacional S.A.		216,589		829,451
Duratex S.A.		124,847		513,180
Fibria Celulose S.A. ADR *(a)		43,300		408,319
Vale S.A.		433,000		5,482,357
				7,233,307
Real Estate 0.2%
BR Malls Participacoes S.A.		135,176		1,115,493
BR Properties S.A.		86,600		691,086
Multiplan Empreendimentos Imobiliarios S.A.		21,650		463,877
				2,270,456
Retailing 0.2%
Cia Hering		43,300		419,863
Lojas Americanas S.A.		48,302		244,412
Lojas Renner S.A.		43,300		1,307,079
				1,971,354
Software & Services 0.5%
Cielo S.A.		251,140		4,481,904
Totvs S.A.		43,300		754,017
				5,235,921
Telecommunication Services 0.2%
Tim Participacoes S.A.		346,478		1,878,323

1

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Transportation 0.4%
All America Latina Logistica S.A.		261,532		944,433
CCR S.A.		346,400		2,713,380
Localiza Rent a Car S.A.		34,930		552,825
				4,210,638
Utilities 0.3%
Companhia de Saneamento Basico do Estado de Sao Paulo		103,920		1,009,062
CPFL Energia S.A. ADR		42,867		688,873
EDP - Energias do Brasil S.A.		129,900		543,796
Tractebel Energia S.A.		86,600		1,281,790
Transmissora Alianca de Energia Eletrica S.A.		43,300		374,499
				3,898,020
				83,290,521
Chile 1.7%
Banks 0.4%
Banco de Chile ADR		12,124		973,800
Banco de Credito e Inversiones		8,809		505,925
Banco Santander Chile ADR		58,471		1,467,622
Corpbanca S.A.		64,006,592		762,586
Sociedad Matriz Banco de Chile S.A., B Shares		1,678,460		542,284
				4,252,217
Energy 0.2%
Empresas COPEC S.A.		131,632		1,749,487
Food & Staples Retailing 0.1%
Cencosud S.A.		332,181		1,171,443
Food, Beverage & Tobacco 0.0%
Cia Cervecerias Unidas S.A.		32,475		383,382
Materials 0.2%
CAP S.A.		29,444		423,286
Empresas CMPC S.A.		414,814		904,032
Sociedad Quimica y Minera de Chile S.A. ADR		30,310		916,574
				2,243,892
Retailing 0.1%
S.A.C.I. Falabella		159,777		1,491,424
Telecommunication Services 0.0%
ENTEL Chile S.A.		29,011		364,378
Transportation 0.2%
Latam Airlines Group S.A. ADR *		122,539		1,769,463
Utilities 0.5%
Colbun S.A.		3,967,579		981,993
Empresa Nacional de Electricidad S.A. ADR		44,599		1,966,370
Enersis S.A. ADR		126,057		2,042,123
				4,990,486
				18,416,172
China 0.2%
Automobiles & Components 0.0%
Chongqing Changan Automobile Co., Ltd., B Shares		303,100		543,418
Energy 0.1%
Inner Mongolia Yitai Coal Co., Ltd., B Shares		606,200		771,086
Real Estate 0.1%
China Vanke Co., Ltd., B Shares		710,100		1,117,409
				2,431,913
Colombia 1.0%
Banks 0.2%
Bancolombia S.A. ADR (a)		34,640		1,930,487
Diversified Financials 0.2%
Corp. Financiera Colombiana S.A.		52,463		1,028,767
Grupo de Inversiones Suramericana S.A.		57,589		1,159,561
				2,188,328
Energy 0.3%
Ecopetrol S.A. ADR (a)		80,487		2,938,581
Food & Staples Retailing 0.1%
Almacenes Exito S.A.		84,002		1,346,929
Materials 0.1%
Cementos Argos S.A.		130,333		740,003
Cemex Latam Holdings S.A. *		48,496		444,639
				1,184,642
Utilities 0.1%
Interconexion Electrica S.A. ESP		122,972		581,841
Isagen S.A. ESP		423,041		638,292
				1,220,133
				10,809,100
Czech Republic 0.3%
Banks 0.1%
Komercni Banka A/S		4,763		1,098,097
Telecommunication Services 0.1%
Telefonica Czech Republic A/S		46,593		675,356
Utilities 0.1%
CEZ A/S		56,723		1,660,703
				3,434,156
Egypt 0.3%
Banks 0.2%
Commercial International Bank Egypt SAE GDR - Reg’d		382,339		1,835,227
Telecommunication Services 0.1%
Global Telecom Holding GDR *		386,681		1,419,120
Orascom Telecom Media & Technology Holding SAE GDR *(b)(d)		176,826		157,039
				1,576,159
				3,411,386

2 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Hong Kong 20.3%
Automobiles & Components 0.6%
Brilliance China Automotive Holdings Ltd.		1,022,000		1,695,215
Byd Co., Ltd., H Shares *(a)		117,500		575,910
Dongfeng Motor Group Co., Ltd., H Shares		936,000		1,436,666
Geely Automobile Holdings Ltd.		1,005,000		375,921
Great Wall Motor Co., Ltd., H Shares		373,000		1,529,921
Guangzhou Automobile Group Co., Ltd., H Shares		867,662		914,336
				6,527,969
Banks 5.0%
Agricultural Bank of China Ltd., H Shares		6,928,000		3,091,840
Bank of China Ltd., H Shares		23,382,000		11,128,613
Bank of Communications Co., Ltd., H Shares		3,610,200		2,416,750
China CITIC Bank Corp., Ltd., H Shares		3,526,800		2,051,589
China Construction Bank Corp., H Shares		22,949,000		16,842,597
China Merchants Bank Co., Ltd., H Shares		1,412,359		2,601,395
China Minsheng Banking Corp., Ltd., H Shares		1,840,600		1,889,755
Chongqing Rural Commercial Bank, H Shares *		577,000		266,435
Huishang Bank Corp., Ltd., H Shares *		433,000		194,357
Industrial & Commercial Bank of China Ltd., H Shares		21,650,336		14,074,345
				54,557,676
Capital Goods 1.0%
AviChina Industry & Technology Co., Ltd., H Shares		982,000		530,712
Beijing Enterprises Holdings Ltd.		216,500		1,850,022
China Communications Construction Co., Ltd., H Shares		1,732,000		1,157,206
China International Marine Containers Group Co., Ltd., H Shares		303,100		538,726
China Railway Construction Corp., Ltd., H Shares		649,500		549,561
China Railway Group Ltd., H Shares		1,217,000		566,671
CITIC Pacific Ltd. (a)		558,000		974,509
CSR Corp., Ltd., H Shares		894,000		661,885
Haitian International Holdings Ltd.		180,000		394,689
Shanghai Electric Group Co., Ltd., H Shares		866,000		312,758
Shanghai Industrial Holdings Ltd.		315,000		973,081
Sinopec Engineering Group Co., Ltd., H shares		433,000		499,296
Weichai Power Co., Ltd., H Shares		197,000		735,610
Zhuzhou CSR Times Electric Co., Ltd., H Shares		154,000		452,886
Zoomlion Heavy Industry Science & Technology Co., Ltd., H Shares (a)		519,700		345,888
				10,543,500
Commercial & Professional Services 0.1%
China Everbright International Ltd.		866,000		1,102,473
Consumer Durables & Apparel 0.2%
ANTA Sports Products Ltd.		433,000		636,687
Haier Electronics Group Co., Ltd.		329,000		769,779
Li Ning Co., Ltd. *(a)		433,000		304,940
Shenzhou International Group Holdings Ltd. (a)		126,000		439,613
				2,151,019
Diversified Financials 0.2%
China Cinda Asset Management Co., Ltd., H Shares *(a)		1,217,000		580,798
CITIC Securities Co., Ltd., H Shares		366,500		790,394
Far East Horizon Ltd.		511,000		347,348
Haitong Securities Co., Ltd., H Shares		642,800		960,102
				2,678,642
Energy 2.8%
China Coal Energy Co., Ltd., H Shares (a)		1,471,000		838,625
China Oilfield Services Ltd., H Shares		652,000		1,607,935
China Petroleum & Chemical Corp., H Shares		7,862,000		7,128,881
China Shenhua Energy Co., Ltd., H Shares		931,000		2,551,771
CNOOC Ltd.		4,930,000		8,457,297
Kunlun Energy Co., Ltd.		866,000		1,411,881
PetroChina Co., Ltd., H Shares		6,928,000		8,265,757
Yanzhou Coal Mining Co., Ltd., H Shares (a)		866,000		682,483
				30,944,630
Food & Staples Retailing 0.1%
China Resources Enterprise Ltd.		368,000		1,032,381
Food, Beverage & Tobacco 0.2%
Biostime International Holdings Ltd. (a)		71,500		482,326
China Agri-Industries Holdings Ltd.		868,000		358,264
China Huishan Dairy Holdings Co., Ltd. *(a)		2,049,000		486,287
China Yurun Food Group Ltd. *(a)		433,000		196,591
Tsingtao Brewery Co., Ltd., H Shares		116,000		912,685
				2,436,153
Health Care Equipment & Services 0.2%
Shandong Weigao Group Medical Polymer Co., Ltd., H Shares		676,000		657,432
Shanghai Pharmaceuticals Holding Co., Ltd., H Shares		216,500		407,144
Sinopharm Group Co., H Shares		363,600		987,209
				2,051,785

3

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Household & Personal Products 0.2%
Hengan International Group Co., Ltd.		216,500		2,296,819
Insurance 1.6%
China Life Insurance Co., Ltd., H Shares		2,598,000		7,137,593
China Pacific Insurance (Group) Co., Ltd., H Shares		630,300		2,105,620
China Taiping Insurance Holdings Co., Ltd. *		433,000		755,088
PICC Property & Casualty Co., Ltd., H Shares		1,346,000		1,982,642
Ping An Insurance Group Co. of China Ltd., H Shares		649,500		5,022,285
				17,003,228
Materials 0.7%
Aluminum Corp. of China Ltd., H Shares *(a)		1,208,000		431,598
Anhui Conch Cement Co., Ltd., H Shares (a)		433,000		1,558,207
BBMG Corp., H Shares		649,500		438,141
China BlueChemical Ltd., H Shares		1,732,000		927,105
China National Building Material Co., Ltd., H Shares		1,026,000		927,680
China Resources Cement Holdings Ltd.		866,000		546,210
China Zhongwang Holdings Ltd.		1,212,400		367,491
Fosun International Ltd.		649,500		766,537
Jiangxi Copper Co., Ltd., H Shares		436,000		722,079
Lee & Man Paper Manufacturing Ltd.		866,000		431,160
Nine Dragons Paper Holdings Ltd.		433,000		281,483
Zijin Mining Group Co., Ltd., H Shares (a)		2,598,000		599,826
				7,997,517
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
CSPC Pharmaceutical Group Ltd.		978,000		770,749
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd., H Shares (a)		84,000		259,488
Shanghai Fosun Pharmaceutical Group Co., Ltd., H Shares		93,500		347,326
Sihuan Pharmaceutical Holdings Group Ltd.		801,000		954,636
Sino Biopharmaceutical Ltd.		668,000		544,536
				2,876,735
Real Estate 1.0%
Agile Property Holdings Ltd.		354,000		273,960
China Overseas Land & Investment Ltd.		1,330,000		3,465,262
China Resources Land Ltd.		866,000		1,753,681
Country Garden Holdings Co., Ltd.		866,000		364,140
Evergrande Real Estate Group Ltd. (a)		1,633,000		722,459
Greentown China Holdings Ltd.		433,000		423,341
Guangzhou R&F Properties Co., Ltd., H Shares		389,200		535,135
Longfor Properties Co., Ltd.		433,000		547,886
Renhe Commercial Holdings Co., Ltd. *(a)		6,062,000		316,668
Shimao Property Holdings Ltd.		433,000		872,372
Sino-Ocean Land Holdings Ltd.		1,732,000		911,467
Yuexiu Property Co., Ltd.		4,330,000		860,085
				11,046,456
Retailing 0.3%
Belle International Holdings Ltd.		1,479,000		1,466,991
Golden Eagle Retail Group Ltd.		167,000		203,986
GOME Electrical Appliances Holdings Ltd.		4,763,000		798,651
Zhongsheng Group Holdings Ltd.		216,500		271,429
				2,741,057
Semiconductors & Semiconductor Equipment 0.1%
GCL- Poly Energy Holdings Ltd. *		3,906,000		1,214,178
Software & Services 2.0%
Kingsoft Corp., Ltd. (a)		202,000		610,980
Tencent Holdings Ltd.		1,440,500		20,307,967
Travelsky Technology Ltd., H Shares		433,000		368,608
				21,287,555
Technology Hardware & Equipment 0.3%
Kingboard Chemical Holdings Ltd.		250,500		469,792
Lenovo Group Ltd.		2,212,000		2,738,983
ZTE Corp., H Shares *(a)		277,560		535,576
				3,744,351
Telecommunication Services 2.0%
China Mobile Ltd.		1,617,000		15,819,714
China Telecom Corp., Ltd., H Shares		6,062,000		3,049,394
China Unicom (Hong Kong) Ltd.		1,732,000		2,591,426
				21,460,534
Transportation 0.5%
Air China Ltd., H Shares		1,328,000		758,813
China COSCO Holdings Co., Ltd., H Shares *(a)		1,103,500		429,845
China Merchants Holdings International Co., Ltd.		512,000		1,512,302
China Shipping Container Lines Co., Ltd., H Shares *(a)		1,732,000		417,756
COSCO Pacific Ltd.		866,000		1,143,802
Jiangsu Expressway Co., Ltd., H Shares		378,000		453,915
Sinotrans Ltd.		524,000		294,680
Zhejiang Expressway Co., Ltd., H Shares		866,000		857,852
				5,868,965
Utilities 0.9%
Beijing Enterprises Water Group Ltd.		1,191,000		761,950
Beijing Jingneng Clean Energy Co., Ltd., H Shares		488,000		219,674
China Gas Holdings Ltd.		538,000		870,187
China Longyuan Power Group Corp., H Shares		866,000		962,849
China Resources Gas Group Ltd.		230,000		704,570
China Resources Power Holdings Co., Ltd.		866,000		2,273,083

4 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Datang International Power Generation Co., Ltd., H Shares		2,598,000		1,008,646
ENN Energy Holdings Ltd.		238,000		1,683,785
Huadian Fuxin Energy Corp., Ltd., H Shares		476,000		233,305
Huaneng Power International, Inc., H Shares		1,206,000		1,273,985
Huaneng Renewables Corp., Ltd., H Shares		866,000		284,833
				10,276,867
				221,840,490
Hungary 0.3%
Banks 0.1%
OTP Bank plc		69,280		1,514,986
Energy 0.1%
MOL Hungarian Oil & Gas plc		23,311		1,345,027
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Richter Gedeon Nyrt		47,630		894,753
				3,754,766
India 10.6%
Automobiles & Components 0.6%
Bajaj Auto Ltd.		32,042		1,054,122
Hero MotoCorp Ltd.		27,713		1,100,195
Mahindra & Mahindra Ltd.		80,538		1,683,952
Maruti Suzuki India Ltd.		25,980		998,838
Tata Motors Ltd.		305,265		2,144,191
				6,981,298
Banks 2.3%
Axis Bank Ltd.		101,474		3,153,181
Bank of Baroda		32,110		457,903
HDFC Bank Ltd.		361,805		4,853,967
Housing Development Finance Corp.		493,620		7,324,522
ICICI Bank Ltd.		176,664		4,239,607
IndusInd Bank Ltd.		87,577		791,365
Kotak Mahindra Bank Ltd.		109,116		1,604,055
State Bank of India		49,795		2,142,348
Yes Bank Ltd.		62,352		600,833
				25,167,781
Capital Goods 0.5%
Adani Enterprises Ltd.		94,394		765,024
Bharat Heavy Electricals Ltd.		242,480		993,885
Cummins India Ltd.		51,960		559,214
Jaiprakash Associates Ltd.		403,989		499,432
Larsen & Toubro Ltd.		85,301		2,231,049
Siemens Ltd.		26,413		387,814
				5,436,418
Consumer Durables & Apparel 0.0%
Titan Co., Ltd.		90,930		477,040
Diversified Financials 0.4%
Bajaj Holdings & Investment Ltd.		49,795		972,473
IDFC Ltd.		405,288		866,270
Mahindra & Mahindra Financial Services Ltd.		91,363		468,257
Power Finance Corp., Ltd.		122,106		603,297
Rural Electrification Corp., Ltd.		119,075		644,242
Shriram Transport Finance Co., Ltd.		40,702		652,444
				4,206,983
Energy 1.5%
Bharat Petroleum Corp., Ltd.		109,549		967,568
Cairn India Ltd.		144,189		823,920
Coal India Ltd.		174,499		1,095,307
Indian Oil Corp., Ltd.		119,508		728,293
Oil & Natural Gas Corp., Ltd.		608,212		3,892,289
Reliance Industries Ltd.		484,960		8,738,144
The Great Eastern Shipping Co., Ltd.		103,487		645,283
				16,890,804
Food, Beverage & Tobacco 0.6%
ITC Ltd.		639,108		3,696,314
Nestle India Ltd.		11,258		945,184
United Spirits Ltd.		32,042		1,528,136
				6,169,634
Household & Personal Products 0.4%
Colgate-Palmolive (India) Ltd.		22,949		538,616
Dabur India Ltd.		163,970		522,933
Godrej Consumer Products Ltd.		26,413		348,389
Hindustan Unilever Ltd.		239,882		2,449,362
				3,859,300
Materials 0.9%
Ambuja Cements Ltd.		201,896		743,486
Asian Paints Ltd.		92,389		793,648
Hindalco Industries Ltd.		566,797		1,419,630
Jindal Steel & Power Ltd.		148,519		748,376
JSW Steel Ltd.		64,517		1,322,658
NMDC Ltd.		232,954		670,201
Sesa Sterlite Ltd.		427,804		2,030,422
Tata Steel Ltd.		84,868		682,362
Ultratech Cement Ltd.		30,310		1,221,941
				9,632,724
Media 0.1%
Zee Entertainment Enterprises Ltd.		226,892		1,024,259
Pharmaceuticals, Biotechnology & Life Sciences 0.6%
Cipla Ltd.		168,004		1,093,348
Dr. Reddy’s Laboratories Ltd.		34,207		1,424,462
Glenmark Pharmaceuticals Ltd.		32,908		307,694
Lupin Ltd.		67,981		1,076,778
Piramal Enterprises Ltd.		28,145		322,008
Ranbaxy Laboratories Ltd. *		43,300		327,809
Sun Pharmaceutical Industries Ltd.		246,810		2,550,593
				7,102,692
Real Estate 0.1%
DLF Ltd.		171,901		611,210
Software & Services 1.7%
HCL Technologies Ltd.		84,868		2,037,392
Infosys Ltd.		155,014		7,711,088
Oracle Financial Services Software Ltd. *		6,062		290,343
Tata Consultancy Services Ltd.		135,096		4,895,715
Tech Mahindra Ltd.		43,081		1,402,010

5

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Wipro Ltd. ADR		160,821		1,791,546
				18,128,094
Telecommunication Services 0.4%
Bharti Airtel Ltd. *		470,238		2,738,346
Idea Cellular Ltd.		416,546		971,753
Reliance Communications Ltd.		196,149		453,277
				4,163,376
Transportation 0.0%
Adani Ports & Special Economic Zone Ltd.		129,900		500,123
Utilities 0.5%
GAIL India Ltd.		143,756		919,124
NTPC Ltd.		661,624		1,797,100
Power Grid Corp. of India Ltd.		416,113		859,126
Reliance Infrastructure Ltd.		50,228		587,198
Tata Power Co., Ltd.		493,620		867,114
				5,029,662
				115,381,398
Indonesia 2.8%
Automobiles & Components 0.4%
PT Astra International Tbk		6,754,800		4,093,380
Banks 0.9%
PT Bank Central Asia Tbk		4,113,500		3,796,399
PT Bank Mandiri (Persero) Tbk		2,814,959		2,453,294
PT Bank Negara Indonesia (Persero) Tbk		1,905,216		779,221
PT Bank Rakyat Indonesia (Persero) Tbk		3,767,100		3,291,171
				10,320,085
Capital Goods 0.1%
PT United Tractors Tbk		606,200		1,125,429
Energy 0.1%
PT Adaro Energy Tbk		6,862,800		720,080
PT Tambang Batubara Bukit Asam (Persero) Tbk		433,000		396,839
				1,116,919
Food, Beverage & Tobacco 0.3%
PT Astra Agro Lestari Tbk		178,600		418,008
PT Charoen Pokphand Indonesia Tbk		2,663,400		861,185
PT Gudang Garam Tbk		148,400		661,604
PT Indofood Sukses Makmur Tbk		1,538,900		899,614
				2,840,411
Household & Personal Products 0.1%
PT Unilever Indonesia Tbk		433,000		1,080,182
Materials 0.2%
PT Indocement Tunggal Prakarsa Tbk		433,000		840,039
PT Semen Indonesia (Persero) Tbk		942,400		1,188,594
PT Vale Indonesia Tbk		855,700		286,943
				2,315,576
Media 0.1%
PT Media Nusantara Citra Tbk		2,338,200		566,776
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
PT Kalbe Farma Tbk		8,963,100		1,182,285
Telecommunication Services 0.4%
PT Telekomunikasi Indonesia (Persero) Tbk		17,320,000		3,820,043
Transportation 0.0%
PT Jasa Marga Persero Tbk		870,000		437,794
Utilities 0.1%
PT Perusahaan Gas Negara (Persero) Tbk		3,464,000		1,609,610
				30,508,490
Malaysia 5.1%
Automobiles & Components 0.1%
UMW Holdings Berhad		303,100		1,018,823
Banks 1.6%
Alliance Financial Group Berhad		696,200		1,059,576
AMMB Holdings Berhad		692,800		1,582,680
CIMB Group Holdings Berhad		1,617,100		3,694,215
Hong Leong Bank Berhad		222,100		959,461
Malayan Banking Berhad		1,385,600		4,260,731
Public Bank Berhad		822,700		5,530,756
RHB Capital Berhad		222,100		580,654
				17,668,073
Capital Goods 0.5%
Gamuda Berhad		954,800		1,307,538
IJM Corp. Berhad		441,500		919,276
Sime Darby Berhad		995,900		2,960,114
				5,186,928
Consumer Services 0.4%
Berjaya Sports Toto Berhad		265,456		315,606
Genting Berhad		779,400		2,360,274
Genting Malaysia Berhad		1,010,800		1,280,410
				3,956,290
Energy 0.3%
Bumi Armada Berhad *		303,100		332,061
Petronas Dagangan Berhad		129,900		1,020,441
Sapurakencana Petroleum Berhad *		1,336,000		1,733,931
				3,086,433
Food, Beverage & Tobacco 0.5%
British American Tobacco Malaysia Berhad		43,300		847,672
Felda Global Ventures Holdings Berhad		389,700		514,264
IOI Corp. Berhad		1,495,600		2,294,836
Kuala Lumpur Kepong Berhad		179,000		1,332,611
PPB Group Berhad		179,000		873,551
				5,862,934
Health Care Equipment & Services 0.1%
IHH Healthcare Berhad *		649,500		830,826
Materials 0.2%
Lafarge Malaysia Berhad		129,900		399,444
Petronas Chemicals Group Berhad		909,300		1,907,464
				2,306,908

6 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Media 0.0%
Astro Malaysia Holdings Berhad		216,500		229,101
Real Estate 0.1%
IOI Properties Group Berhad *		606,200		467,904
SP Setia Berhad		707,000		642,527
UEM Sunrise Berhad		433,000		276,269
				1,386,700
Telecommunication Services 0.7%
Axiata Group Berhad		1,645,400		3,548,902
DiGi.com Berhad		1,385,600		2,337,364
Maxis Berhad		739,300		1,511,734
Telekom Malaysia Berhad		216,500		416,424
				7,814,424
Transportation 0.1%
Malaysia Airports Holdings Berhad		216,500		509,412
MISC Berhad		433,000		832,848
				1,342,260
Utilities 0.5%
Petronas Gas Berhad		257,100		1,960,457
Tenaga Nasional Berhad		433,250		1,626,204
YTL Corp. Berhad		1,654,440		839,321
YTL Power International Berhad *		1,135,025		533,423
				4,959,405
				55,649,105
Mexico 5.7%
Banks 0.8%
Grupo Financiero Banorte S.A.B. de C.V., O Shares		747,100		5,398,093
Grupo Financiero Inbursa S.A.B. de C.V., O Shares		692,800		1,896,673
Grupo Financiero Santander Mexico S.A.B. de C.V., B Shares		433,000		1,150,427
				8,445,193
Capital Goods 0.3%
Alfa S.A.B. de C.V., A Shares		779,400		2,179,183
Grupo Carso S.A.B. de C.V., Series A1		173,200		898,134
Promotora y Operadora de Infraestructura S.A.B. de C.V. *		51,400		718,126
				3,795,443
Diversified Financials 0.0%
Compartamos S.A.B. de C.V.		303,100		536,552
Food & Staples Retailing 0.5%
Controladora Comercial Mexicana S.A.B. de C.V.		173,200		672,826
Organizacion Soriana S.A.B. de C.V., B Shares *		51,100		162,054
Wal-Mart de Mexico S.A.B. de C.V., Series V		1,905,200		4,848,685
				5,683,565
Food, Beverage & Tobacco 1.0%
Arca Continental S.A.B. de C.V.		129,900		845,004
Coca-Cola Femsa S.A.B. de C.V., Series L		142,100		1,633,402
Fomento Economico Mexicano S.A.B. de C.V.		692,800		6,570,254
Gruma S.A.B. de C.V., B Shares *		43,300		455,325
Grupo Bimbo S.A.B. de C.V., Series A		606,200		1,752,391
				11,256,376
Household & Personal Products 0.1%
Kimberly-Clark de Mexico S.A.B. de C.V., A Shares		259,800		693,890
Materials 1.2%
Alpek S.A. de C.V.		212,200		405,486
Cemex S.A.B. de C.V., Series CPO *		3,736,664		4,808,576
Grupo Mexico S.A.B. de C.V., Series B		1,255,700		4,131,510
Industrias CH S.A.B. de C.V., Series B *		43,300		245,799
Industrias Penoles S.A.B. de C.V.		43,300		1,046,724
Mexichem S.A.B. de C.V.		389,700		1,547,171
Minera Frisco S.A.B. de C.V., Series A1 *		199,100		382,774
				12,568,040
Media 0.6%
Grupo Televisa S.A.B., Series CPO		909,300		6,136,901
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Genomma Lab Internacional S.A.B. de C.V., B Shares *		216,500		551,996
Real Estate 0.1%
Fibra Uno Administracion S.A. de C.V.		433,000		1,322,705
Retailing 0.0%
Grupo Elektra S.A. de C.V.		12,990		343,029
Telecommunication Services 0.9%
America Movil S.A.B. de C.V., Series L		9,739,000		9,407,139
Transportation 0.1%
Grupo Aeroportuario del Sureste S.A.B. de C.V., B Shares		71,800		924,581
OHL Mexico S.A.B. de C.V. *		173,200		480,360
				1,404,941
Utilities 0.0%
Infraestructura Energetica Nova S.A.B. de C.V.		77,200		424,740
				62,570,510
Pakistan 0.0%
Energy 0.0%
Oil & Gas Development Co., Ltd. GDR - Reg’d (d)		9,984		200,778
Peru 0.3%
Banks 0.3%
Credicorp Ltd.		18,186		2,841,562

7

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Philippines 1.7%
Banks 0.3%
Bank of the Philippine Islands		764,526		1,476,459
BDO Unibank, Inc.		603,610		1,219,498
Metropolitan Bank & Trust Co.		241,336		460,554
				3,156,511
Capital Goods 0.5%
Aboitiz Equity Ventures, Inc.		606,200		750,909
Alliance Global Group, Inc.		1,342,300		909,592
DMCI Holdings, Inc.		303,100		493,564
JG Summit Holdings, Inc.		635,720		716,284
San Miguel Corp.		281,450		491,436
SM Investments Corp.		118,665		2,131,658
				5,493,443
Consumer Services 0.1%
Jollibee Foods Corp.		138,560		567,160
Diversified Financials 0.1%
Ayala Corp.		69,280		978,517
GT Capital Holdings, Inc.		8,660		169,321
				1,147,838
Food, Beverage & Tobacco 0.1%
LT Group, Inc.		952,600		322,649
Universal Robina Corp.		268,460		914,194
				1,236,843
Real Estate 0.2%
Ayala Land, Inc.		1,732,000		1,187,521
SM Prime Holdings, Inc.		2,814,500		1,078,072
				2,265,593
Telecommunication Services 0.2%
Philippine Long Distance Telephone Co.		27,990		1,803,949
Transportation 0.1%
International Container Terminal Services, Inc.		402,690		993,956
Utilities 0.1%
Aboitiz Power Corp.		866,000		712,513
Energy Development Corp.		3,725,800		509,205
Manila Electric Co.		51,960		302,818
				1,524,536
				18,189,829
Poland 1.8%
Banks 0.7%
Bank Handlowy w Warszawie S.A.		18,619		735,777
Bank Millennium S.A.		181,860		495,114
Bank Pekao S.A.		38,970		2,385,551
Getin Noble Bank S.A. *		715,756		760,563
mBank S.A.		3,897		637,862
Powszechna Kasa Oszczednosci Bank Polski S.A.		245,511		3,289,360
				8,304,227
Energy 0.3%
Polski Koncern Naftowy Orlen S.A.		119,075		1,657,454
Polskie Gornictwo Naftowe i Gazownictwo S.A.		809,020		1,241,442
				2,898,896
Insurance 0.2%
Powszechny Zaklad Ubezpieczen S.A.		18,186		2,679,019
Materials 0.2%
Jastrzebska Spolka Weglowa S.A.		17,400		269,530
KGHM Polska Miedz S.A.		51,671		1,976,262
Synthos S.A.		213,469		310,662
				2,556,454
Telecommunication Services 0.1%
Orange Polska S.A.		209,139		721,216
Utilities 0.3%
Enea S.A.		76,208		402,379
PGE S.A.		291,842		2,017,652
Tauron Polska Energia S.A.		250,425		441,299
				2,861,330
				20,021,142
Russia 4.4%
Banks 0.9%
Sberbank of Russia *		1		3
Sberbank of Russia ADR		826,382		8,301,007
VTB Bank OJSC GDR - Reg’d		691,418		1,857,149
				10,158,159
Energy 2.8%
Gazprom OAO *		1		4
Gazprom OAO ADR		1,749,829		14,262,856
LUKOIL OAO *		1		57
Lukoil OAO ADR		161,076		9,113,680
NovaTek OAO *		189,300		2,009,453
Rosneft OJSC GDR - Reg’d *		375,970		2,452,076
Surgutneftegas OAO *		1		1
Surgutneftegas OAO ADR *		131,544		964,875
Tatneft OAO *		1		6
Tatneft OAO ADR		47,908		1,712,711
				30,515,719
Materials 0.5%
MMC Norilsk Nickel OJSC *		1		191
MMC Norilsk Nickel OJSC ADR		157,579		3,020,789
Novolipetsk Steel OJSC GDR - Reg’d *		24,859		341,563
Severstal OAO GDR - Reg’d		55,165		470,833
Uralkali OJSC GDR - Reg’d		57,652		1,286,793
				5,120,169
Telecommunication Services 0.2%
Mobile Telesystems OJSC ADR		143,976		2,662,116
Utilities 0.0%
Russian Grids OAO *		1		—
				48,456,163
South Africa 9.5%
Banks 0.7%
Barclays Africa Group Ltd.		100,889		1,468,950
Capitec Bank Holdings Ltd.		13,276		278,471

8 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Nedbank Group Ltd.		66,249		1,388,796
Standard Bank Group Ltd.		374,978		5,018,602
				8,154,819
Capital Goods 0.4%
Aveng Ltd. *		170,602		381,059
Barloworld Ltd.		76,641		729,497
Bidvest Group Ltd.		97,858		2,719,544
Reunert Ltd.		74,476		465,134
				4,295,234
Consumer Durables & Apparel 0.3%
Steinhoff International Holdings Ltd.		643,005		3,250,946
Consumer Services 0.0%
Sun International Ltd.		34,640		346,932
Diversified Financials 1.0%
African Bank Investments Ltd.		259,800		206,195
Brait SE *		78,806		418,909
Coronation Fund Managers Ltd.		54,991		526,126
FirstRand Ltd.		942,208		3,545,827
Investec Ltd.		100,023		858,305
JSE Ltd.		57,627		528,151
Remgro Ltd.		166,705		3,454,044
RMB Holdings Ltd.		255,037		1,252,564
				10,790,121
Energy 1.0%
Exxaro Resources Ltd.		39,403		515,520
Sasol Ltd.		174,889		9,836,251
				10,351,771
Food & Staples Retailing 0.4%
Clicks Group Ltd.		81,476		489,222
Massmart Holdings Ltd.		34,267		441,784
Pick n Pay Stores Ltd.		91,796		503,572
Shoprite Holdings Ltd.		147,653		2,301,901
The SPAR Group Ltd.		77,074		917,569
				4,654,048
Food, Beverage & Tobacco 0.2%
AVI Ltd.		147,653		810,269
Tiger Brands Ltd.		54,991		1,558,739
				2,369,008
Health Care Equipment & Services 0.3%
Life Healthcare Group Holdings Ltd.		323,018		1,268,114
Mediclinic International Ltd.		109,668		869,883
Netcare Ltd.		481,063		1,299,955
				3,437,952
Insurance 0.5%
Discovery Ltd.		139,426		1,205,384
MMI Holdings Ltd.		443,825		1,072,267
Sanlam Ltd.		565,498		3,158,293
				5,435,944
Materials 1.1%
Aeci Ltd.		52,826		574,042
African Rainbow Minerals Ltd.		31,176		547,596
Anglo American Platinum Ltd. *		21,650		922,561
AngloGold Ashanti Ltd. *		120,807		1,882,118
Assore Ltd.		8,463		271,871
Gold Fields Ltd.		250,274		878,486
Harmony Gold Mining Co., Ltd. *		175,365		460,957
Impala Platinum Holdings Ltd.		169,303		1,771,773
Kumba Iron Ore Ltd.		19,918		607,829
Mondi Ltd.		51,571		917,765
Nampak Ltd.		278,419		963,073
PPC Ltd.		203,943		626,257
Sappi Ltd. *		130,333		454,403
Sibanye Gold Ltd.		244,348		604,882
				11,483,613
Media 1.3%
Naspers Ltd., N Shares		124,704		13,747,103
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Aspen Pharmacare Holdings Ltd.		101,322		2,614,962
Real Estate 0.2%
Capital Property Fund		653,830		648,656
Growthpoint Properties Ltd.		687,604		1,526,746
				2,175,402
Retailing 0.6%
Imperial Holdings Ltd.		61,053		1,156,481
Mr. Price Group Ltd.		86,600		1,394,519
The Foschini Group Ltd.		74,043		790,468
Truworths International Ltd.		144,189		1,076,402
Woolworths Holdings Ltd.		255,903		1,811,964
				6,229,834
Telecommunication Services 1.3%
MTN Group Ltd.		562,034		11,845,263
Telkom S.A. SOC Ltd. *		187,519		685,673
Vodacom Group Ltd.		113,879		1,380,697
				13,911,633
Transportation 0.0%
Grindrod Ltd.		129,467		343,125
				103,592,447
Taiwan 13.9%
Automobiles & Components 0.2%
Cheng Shin Rubber Industry Co., Ltd.		651,557		1,760,054
Yulon Motor Co., Ltd.		385,000		623,360
				2,383,414
Banks 1.4%
Chang Hwa Commercial Bank		1,960,542		1,189,971
China Development Financial Holding Corp.		4,786,268		1,455,729
CTBC Financial Holding Co., Ltd.		3,897,188		2,482,410
E.Sun Financial Holding Co., Ltd.		2,133,903		1,409,057
Far Eastern International Bank		551,000		198,456
First Financial Holding Co., Ltd.		2,032,786		1,260,937
Hua Nan Financial Holdings Co., Ltd.		2,787,851		1,706,060
Mega Financial Holding Co., Ltd.		3,031,544		2,532,563
SinoPac Financial Holdings Co., Ltd.		1,873,976		831,198
Taishin Financial Holding Co., Ltd.		1,787,042		887,993
Taiwan Cooperative Financial Holding Co., Ltd.		1,990,449		1,091,957
				15,046,331

9

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Capital Goods 0.3%
Far Eastern New Century Corp.		1,358,583		1,404,548
Taiwan Glass Industry Corp.		459,036		409,505
Teco Electric & Machinery Co., Ltd.		433,000		485,194
Walsin Lihwa Corp. *		1,732,000		580,501
				2,879,748
Consumer Durables & Apparel 0.2%
Formosa Taffeta Co., Ltd.		433,000		475,808
Giant Manufacturing Co., Ltd.		38,000		300,979
Pou Chen Corp.		699,580		772,243
				1,549,030
Diversified Financials 0.5%
Capital Securities Corp.		1,318,629		481,532
Fubon Financial Holding Co., Ltd.		2,290,078		3,295,488
Yuanta Financial Holding Co., Ltd.		3,493,316		1,823,228
				5,600,248
Energy 0.1%
Formosa Petrochemical Corp.		547,000		1,337,150
Food & Staples Retailing 0.1%
President Chain Store Corp.		141,000		1,166,164
Food, Beverage & Tobacco 0.3%
Uni-President Enterprises Corp.		1,531,922		2,682,160
Insurance 0.4%
Cathay Financial Holding Co., Ltd.		2,165,011		3,314,069
Shin Kong Financial Holding Co., Ltd.		2,679,546		850,720
				4,164,789
Materials 1.7%
Asia Cement Corp.		903,810		1,177,028
China Steel Corp.		3,593,734		2,948,287
Formosa Chemicals & Fibre Corp.		1,360,500		3,262,242
Formosa Plastics Corp.		1,785,120		4,566,164
Nan Ya Plastics Corp.		1,944,060		4,369,767
Taiwan Cement Corp.		1,053,690		1,567,243
Taiwan Fertilizer Co., Ltd.		182,000		368,425
YFY, Inc.		866,000		412,993
				18,672,149
Real Estate 0.0%
Cathay Real Estate Development Co., Ltd.		511,000		298,227
Retailing 0.1%
Hotai Motor Co., Ltd.		128,000		1,494,055
Semiconductors & Semiconductor Equipment 4.5%
Advanced Semiconductor Engineering, Inc.		2,293,488		2,906,490
Epistar Corp. *		210,000		476,230
Inotera Memories, Inc. *		866,000		1,306,848
Macronix International Co., Ltd. *		1,323,383		323,062
MediaTek, Inc.		470,469		7,640,973
Novatek Microelectronics Corp.		109,000		557,986
Realtek Semiconductor Corp.		101,000		311,567
Siliconware Precision Industries Co. ADR		260,233		2,055,841
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		1,517,665		31,203,193
United Microelectronics Corp. ADR		865,783		1,991,301
				48,773,491
Technology Hardware & Equipment 3.4%
Acer, Inc. *		866,086		563,228
Advantech Co., Ltd.		56,500		418,302
Asustek Computer, Inc.		201,426		2,223,475
AU Optronics Corp. ADR *		303,100		1,133,594
Catcher Technology Co., Ltd.		244,200		2,182,575
Chicony Electronics Co., Ltd.		86,815		234,803
Compal Electronics, Inc.		1,302,610		1,073,001
Delta Electronics, Inc.		638,000		4,149,005
Foxconn Technology Co., Ltd.		480,684		1,109,314
Hon Hai Precision Industry Co., Ltd.		3,527,468		10,869,855
HTC Corp.		202,650		1,081,323
Innolux Corp. *		2,401,000		948,854
Inventec Corp.		1,328,145		1,240,201
Largan Precision Co., Ltd.		31,000		2,026,313
Lite-On Technology Corp.		872,345		1,413,882
Pegatron Corp.		459,441		888,682
Quanta Computer, Inc.		866,000		2,330,667
Synnex Technology International Corp.		439,053		710,878
TPK Holding Co., Ltd.		69,996		567,242
Unimicron Technology Corp.		866,000		795,661
Wistron Corp.		945,735		804,263
				36,765,118
Telecommunication Services 0.6%
Chunghwa Telecom Co., Ltd. ADR (a)		125,570		3,999,404
Far EasTone Telecommunications Co., Ltd.		467,000		1,060,603
Taiwan Mobile Co., Ltd.		544,600		1,796,233
				6,856,240
Transportation 0.1%
China Airlines Ltd. *		1,092,000		369,639
Eva Airways Corp. *		866,000		436,097
Evergreen Marine Corp., Ltd. *		528,199		302,981
U-Ming Marine Transport Corp.		190,000		319,988
				1,428,705
				151,097,019
Thailand 2.7%
Banks 0.7%
Bangkok Bank PCL NVDR		173,200		975,998
Bank of Ayudhya PCL NVDR		346,400		406,226
Kasikornbank PCL NVDR		389,700		2,225,670
Krung Thai Bank PCL NVDR		1,829,500		1,053,230
The Siam Commercial Bank PCL NVDR		476,300		2,306,783
TMB Bank PCL NVDR		4,546,500		318,518
				7,286,425
Capital Goods 0.0%
Berli Jucker PCL NVDR		129,900		183,989
Energy 0.5%
Banpu PCL NVDR		433,000		382,486
IRPC PCL NVDR		5,239,300		564,944

10 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
PTT Exploration & Production PCL NVDR		496,704		2,322,390
PTT PCL NVDR		245,600		2,199,403
Thai Oil PCL NVDR		173,200		262,464
				5,731,687
Food & Staples Retailing 0.2%
Big C Supercenter PCL NVDR		86,600		498,550
CP ALL PCL NVDR		1,602,100		2,220,395
				2,718,945
Food, Beverage & Tobacco 0.1%
Charoen Pokphand Foods PCL NVDR		1,342,300		1,134,597
Health Care Equipment & Services 0.0%
Bangkok Dusit Medical Services PCL NVDR		1,030,100		520,855
Materials 0.3%
Indorama Ventures PCL NVDR		433,000		329,729
PTT Global Chemical PCL NVDR		440,014		921,443
The Siam Cement PCL NVDR		129,900		1,653,920
				2,905,092
Media 0.1%
BEC World PCL NVDR		476,300		710,895
Real Estate 0.1%
Central Pattana PCL NVDR		520,800		745,586
Land & Houses PCL NVDR		866,000		255,870
				1,001,456
Telecommunication Services 0.5%
Advanced Info Service PCL NVDR		389,700		2,718,285
Intouch Holding PCL NVDR		476,300		1,077,225
Total Access Communication PCL NVDR		213,400		780,018
True Corp. PCL NVDR *		2,338,200		505,672
				5,081,200
Transportation 0.1%
Airports of Thailand PCL NVDR		154,900		884,671
Utilities 0.1%
Electricity Generating PCL NVDR		86,600		346,875
Glow Energy PCL NVDR		183,900		446,726
				793,601
				28,953,413
Turkey 2.0%
Banks 0.8%
Akbank T.A.S.		519,205		2,028,028
Turkiye Garanti Bankasi A/S		638,242		2,605,753
Turkiye Halk Bankasi A/S		169,357		1,318,174
Turkiye Is Bankasi, C Shares		522,198		1,488,646
Turkiye Vakiflar Bankasi Tao, D Shares		370,329		894,788
Yapi ve Kredi Bankasi A/S		336,441		785,597
				9,120,986
Capital Goods 0.2%
Enka Insaat ve Sanayi A/S		105,975		295,022
KOC Holding A/S		286,646		1,416,668
				1,711,690
Consumer Durables & Apparel 0.0%
Arcelik A/S		64,517		406,659
Diversified Financials 0.1%
Haci Omer Sabanci Holding A/S		256,815		1,250,842
Energy 0.1%
Tupras-Turkiye Petrol Rafinerileri A/S		62,674		1,526,298
Food & Staples Retailing 0.1%
BIM Birlesik Magazalar A/S		68,138		1,498,307
Food, Beverage & Tobacco 0.2%
Anadolu Efes Biracilik Ve Malt Sanayii A/S *		93,961		1,177,766
Ulker Biskuvi Sanayi A/S		45,465		384,266
				1,562,032
Materials 0.1%
Eregli Demir ve Celik Fabrikalari T.A.S.		709,902		1,057,633
Real Estate 0.1%
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		737,832		944,222
Telecommunication Services 0.2%
Turk Telekomunikasyon A/S		172,767		500,762
Turkcell Iletisim Hizmetleri A/S *		254,171		1,596,002
				2,096,764
Transportation 0.1%
Turk Hava Yollari Anonim Ortakligi *		337,307		1,148,409
				22,323,842
United Arab Emirates 1.0%
Banks 0.2%
Dubai Islamic Bank PJSC		87,899		185,469
First Gulf Bank PJSC		328,983		1,607,766
Union National Bank PJSC		294,150		516,551
				2,309,786
Capital Goods 0.1%
Arabtec Holding Co. *		695,913		1,269,448
Diversified Financials 0.1%
Dubai Financial Market		897,432		1,038,426
Energy 0.0%
Dana Gas PJSC *		1,678,741		383,926
Real Estate 0.4%
Aldar Properties PJSC		907,135		1,086,700
Emaar Properties PJSC		1,164,066		3,311,913
				4,398,613
Transportation 0.2%
DP World Ltd.		80,772		1,750,329
				11,150,528
United Kingdom 0.8%
Food & Staples Retailing 0.5%
Magnit OJSC GDR - Reg’d		94,666		5,509,561
Materials 0.1%
Phosagro OAO GDR - Reg’d		23,572		275,085

11

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Real Estate 0.0%
LSR Group GDR - Reg’d *		52,990		208,728
Telecommunication Services 0.2%
MegaFon OAO GDR - Reg’d		33,455		1,004,654
Sistema JSFC GDR - Reg’d *		48,063		1,377,005
				2,381,659
				8,375,033
United States 0.1%
Materials 0.1%
Companhia de Minas Buenaventura S.A. ADR		83,569		893,353
Total Common Stock
(Cost $975,907,142)				1,027,593,116
Other Investment Companies 0.4% of net assets
United States 0.4%
Equity Fund 0.1%
Vanguard FTSE Emerging Markets ETF (a)		20,001		844,000
Money Market Fund 0.3%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (e)		3,159,969		3,159,969
Total Other Investment Companies
(Cost $3,996,479)				4,003,969
Preferred Stock 5.5% of net assets
Brazil 5.3%
Banks 2.3%
Banco Bradesco S.A.		664,523		9,246,233
Itau Unibanco Holding S.A. ADR		793,689		12,302,179
Itausa - Investimentos Itau S.A.		1,047,860		3,989,534
				25,537,946
Energy 0.9%
Petroleo Brasileiro S.A.		1,385,600		10,309,919
Food & Staples Retailing 0.2%
Cia Brasileira de Distribuicao Grupo Pao de Acucar		43,300		1,965,155
Materials 1.2%
Bradespar S.A.		86,600		718,111
Braskem S.A., A Shares		86,600		565,223
Gerdau S.A.		276,254		1,641,723
Klabin S.A.		866,000		845,518
Metalurgica Gerdau S.A.		86,600		629,699
Suzano Papel e Celulose S.A., A Shares		86,600		311,568
Usinas Siderurgicas de Minas Gerais S.A., A Shares *		173,200		609,237
Vale S.A. ADR		644,737		7,401,581
				12,722,660
Retailing 0.1%
Lojas Americanas S.A.		162,375		962,067
Telecommunication Services 0.2%
Oi S.A.		1,385,640		1,198,431
Telefonica Brasil S.A.		71,304		1,422,552
				2,620,983
Utilities 0.4%
AES Tiete S.A.		43,300		330,293
Centrais Eletricas Brasileiras S.A., B Shares		94,262		406,792
Companhia Energetica de Minas Gerais		263,475		1,830,073
Companhia Energetica de Sao Paulo, B Shares		57,013		683,226
Companhia Paranaense de Energia - Copel, B Shares		43,300		622,170
				3,872,554
				57,991,284
Chile 0.0%
Food, Beverage & Tobacco 0.0%
Embotelladora Andina S.A., B Shares		97,425		408,787
Colombia 0.1%
Banks 0.0%
Grupo Aval Acciones y Valores		575,457		396,314
Diversified Financials 0.1%
Grupo de Inversiones Suramericana S.A.		24,248		490,786
Materials 0.0%
Grupo Argos S.A.		29,011		316,015
				1,203,115
Russia 0.1%
Energy 0.1%
AK Transneft OAO *		250		573,033
Total Preferred Stock
(Cost $69,820,667)				60,176,219
Rights 0.0% of net assets
Hong Kong 0.0%
Transportation 0.0%
China Merchants Holdings International Co., Ltd. *(c)(d)		102,400		—
Total Rights
(Cost $—)				—

12 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Warrants 0.0% of net assets
Thailand 0.0%
Real Estate 0.0%
Land & Houses PCL NVDR *(d)		162,400		28,938
Total Warrants
(Cost $—)				28,938
End of Investments
Collateral Invested for Securities on Loan 1.2% of net assets
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (e)		13,223,563		13,223,563
Total Collateral Invested for Securities on Loan
(Cost $13,223,563)				13,223,563
End of Collateral Invested for Securities on Loan

At 05/31/14, the tax basis cost of the fund’s investments was $1,055,077,991 and the unrealized appreciation and depreciation were $119,618,712 and ($82,894,461), respectively, with a net unrealized appreciation of $36,724,251.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $13,060,961. Non-Cash Collateral received for securities on loan amounted to $624,958.
(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 $157,039 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 $386,755 or 0.0% of net assets.
(e)	The rate shown is the 7-day yield.

ADR —	American Depositary Receipt
ETF —	Exchange Traded Fund
GDR —	Global Depositary Receipt
NVDR —	Non-Voting Depositary Receipt
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.

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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

13

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

•  Bonds and notes: Bonds and notes are valued at halfway between the most recent bid and ask 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 independent bond-pricing services.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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.

14 

 Schwab Emerging Markets 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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$1,027,392,338		$—		$—		$1,027,392,338
Pakistan1		—		—		200,778		200,778
Other Investment Companies1		4,003,969		—		—		4,003,969
Preferred Stock1		60,176,219		—		—		60,176,219
Rights1
Warrants1		28,938		—		—		28,938
Total		$1,091,601,464		$—		$200,778		$1,091,802,242
Other Financial Instruments
Collateral Invested for Securities on Loan		$13,223,563		$—		$—		$13,223,563

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		Appreciation			Gross		Gross		Transfers		Transfers			May 31,
Investments in Securities	2013		(Losses)		(Depreciation)			Purchases		Sales		in		out			2014
Common Stock
China		$242,410		$—		$—			$—		$—		$—		($242,410	)		$—
Pakistan		209,664		—		(8,886	)		—		—		—		—			200,778
Rights
China		39,538		—		(39,538	)		—		—		—		—			—
Total		$491,612		$—		($48,424	)		$—		$—		$—		($242,410	)		$200,778

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 out of Level 3 to 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 May 31, 2014.

REG56692MAY14

15

Schwab Strategic Trust
Schwab U.S. Broad Market ETF™

Portfolio Holdings as of May 31, 2014 (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		2,602,004,270		3,320,270,971
	0	.1%	Other Investment Companies		1,784,529		1,889,588
	0	.0%	Rights		21,490		21,490
	99	.9%	Total Investments		2,603,810,289		3,322,182,049
	0	.4%	Collateral Invested for Securities on Loan		14,783,137		14,783,137
	(0	.3)%	Other Assets and Liabilities, Net				(11,189,992	)
	100	.0%	Net Assets				3,325,775,194

	Number		Value
Security	of Shares		($)
Common Stock 99.8% of net assets
Automobiles & Components 1.3%
Allison Transmission Holdings, Inc.		20,268		627,700
American Axle & Manufacturing Holdings, Inc. *		10,260		190,221
Autoliv, Inc.		14,660		1,553,960
BorgWarner, Inc.		36,972		2,325,169
Cooper Tire & Rubber Co.		9,120		253,810
Dana Holding Corp.		24,174		535,212
Delphi Automotive plc		44,810		3,094,579
Dorman Products, Inc. *		5,688		302,204
Drew Industries, Inc.		3,016		146,336
Federal-Mogul Holdings Corp. *		13,168		218,457
Ford Motor Co.		615,055		10,111,504
General Motors Co.		203,611		7,040,869
Gentex Corp.		21,930		634,216
Gentherm, Inc. *		5,518		226,955
Harley-Davidson, Inc.		34,322		2,445,099
Johnson Controls, Inc.		106,803		5,164,993
Lear Corp.		12,544		1,104,499
Standard Motor Products, Inc.		3,812		158,274
Tenneco, Inc. *		9,032		575,790
Tesla Motors, Inc. *		12,847		2,669,221
The Goodyear Tire & Rubber Co.		43,106		1,136,705
Thor Industries, Inc.		7,110		426,600
TRW Automotive Holdings Corp. *		19,398		1,646,308
Visteon Corp. *		7,604		693,029
				43,281,710
Banks 5.8%
Associated Banc-Corp.		30,182		520,036
Astoria Financial Corp.		12,827		163,929
BancFirst Corp.		2,859		169,853
BancorpSouth, Inc.		14,490		340,515
Bank of America Corp.		1,652,482		25,018,577
Bank of Hawaii Corp.		7,110		396,454
Bank of the Ozarks, Inc.		5,688		335,820
BankUnited, Inc.		16,167		526,074
Banner Corp.		6,544		249,784
BB&T Corp.		114,438		4,339,489
BBCN Bancorp, Inc.		10,266		156,556
Beneficial Mutual Bancorp, Inc. *		12,969		175,211
Berkshire Hills Bancorp, Inc.		3,150		71,190
BofI Holding, Inc. *		2,308		177,324
BOK Financial Corp.		3,438		215,838
Boston Private Financial Holdings, Inc.		11,905		150,479
Brookline Bancorp, Inc.		12,828		114,682
Capital Bank Financial Corp., Class A *		8,848		214,652
Capitol Federal Financial, Inc.		24,786		299,911
Cathay General Bancorp		11,464		275,480
Central Pacific Financial Corp.		6,232		118,657
Chemical Financial Corp.		4,424		127,146
CIT Group, Inc.		32,706		1,454,763
Citigroup, Inc.		475,086		22,599,841
City Holding Co.		2,844		122,889
City National Corp.		7,110		505,450
Columbia Banking System, Inc.		9,954		246,561
Comerica, Inc.		30,056		1,441,786
Commerce Bancshares, Inc.		13,937		605,005
Community Bank System, Inc.		5,688		201,981
Community Trust Bancorp, Inc.		1,952		67,000
Cullen/Frost Bankers, Inc.		9,032		676,136
CVB Financial Corp.		14,434		210,448
East West Bancorp, Inc.		24,174		809,346
EverBank Financial Corp.		16,030		305,371
F.N.B. Corp.		21,528		263,503
Fifth Third Bancorp		137,456		2,843,965
First BanCorp *		22,984		111,932
First Citizens BancShares, Inc., Class A		947		208,132
First Commonwealth Financial Corp.		18,661		160,485
First Financial Bancorp		8,588		139,641
First Financial Bankshares, Inc. (a)		4,460		265,281
First Financial Holdings, Inc.		3,940		231,948
First Horizon National Corp.		38,670		443,158
First Interstate Bancsystem, Inc.		6,032		154,841
First Midwest Bancorp, Inc.		14,220		227,520
First Niagara Financial Group, Inc.		54,480		469,073
First Republic Bank		19,116		972,240
FirstMerit Corp.		24,953		465,873
Flagstar Bancorp, Inc. *		13,220		224,872
Fulton Financial Corp.		34,448		411,654
Glacier Bancorp, Inc.		10,589		278,173
Hancock Holding Co.		12,798		432,316
Hanmi Financial Corp.		6,544		139,453
Home BancShares, Inc.		11,376		347,082

1

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Home Loan Servicing Solutions Ltd.		13,474		300,470
Hudson City Bancorp, Inc.		75,366		736,326
Huntington Bancshares, Inc.		133,668		1,239,102
Iberiabank Corp.		4,266		266,454
Independent Bank Corp.		3,116		112,799
International Bancshares Corp.		8,688		209,381
Investors Bancorp, Inc.		53,717		580,140
JPMorgan Chase & Co.		593,437		32,977,294
Kearny Financial Corp. *		2,857		40,627
KeyCorp		152,602		2,089,121
M&T Bank Corp.		20,441		2,480,924
MB Financial, Inc.		8,573		230,099
MGIC Investment Corp. *		53,785		456,097
National Bank Holdings Corp., Class A		10,807		211,493
National Penn Bancshares, Inc.		19,064		195,978
Nationstar Mortgage Holdings, Inc. *(a)		4,424		154,663
NBT Bancorp, Inc.		10,226		232,335
New York Community Bancorp, Inc. (a)		68,562		1,047,627
Northfield Bancorp, Inc.		8,823		114,787
Northwest Bancshares, Inc.		21,330		283,902
Ocwen Financial Corp. *		19,908		698,174
OFG Bancorp		15,100		272,706
Old National Bancorp		15,730		212,827
Oritani Financial Corp.		9,954		150,007
PacWest Bancorp		19,212		776,549
Park National Corp. (a)		1,696		126,606
People’s United Financial, Inc.		54,036		776,497
Pinnacle Financial Partners, Inc.		4,724		163,072
Popular, Inc. *		15,652		472,377
PrivateBancorp, Inc.		12,798		341,835
Prosperity Bancshares, Inc.		8,853		514,625
Provident Financial Services, Inc.		11,376		192,596
Radian Group, Inc.		34,138		492,270
Regions Financial Corp.		233,794		2,382,361
Renasant Corp.		3,350		92,694
S&T Bancorp, Inc.		4,325		104,968
Sandy Spring Bancorp, Inc.		3,250		77,058
Signature Bank *		7,110		823,480
State Bank Financial Corp.		4,525		72,898
Sterling Bancorp		12,500		141,625
SunTrust Banks, Inc.		89,072		3,413,239
Susquehanna Bancshares, Inc.		28,590		282,469
SVB Financial Group *		7,110		749,749
Synovus Financial Corp.		21,831		503,423
TCF Financial Corp.		28,688		455,852
Texas Capital Bancshares, Inc. *		5,936		303,923
TFS Financial Corp. *		19,908		268,360
The Bancorp, Inc. *		5,972		93,760
The PNC Financial Services Group, Inc.		84,552		7,209,749
TrustCo Bank Corp.		14,350		92,271
Trustmark Corp.		11,376		263,354
U.S. Bancorp		286,370		12,081,950
UMB Financial Corp.		5,688		313,978
Umpqua Holdings Corp.		32,327		535,658
Union Bankshares Corp.		7,365		183,904
United Bankshares, Inc.		10,337		313,211
United Community Banks, Inc. *		7,430		113,976
Valley National Bancorp		37,129		359,780
ViewPoint Financial Group, Inc.		5,832		144,925
Washington Federal, Inc.		17,064		355,443
Webster Financial Corp.		14,559		435,605
Wells Fargo & Co.		752,720		38,223,122
WesBanco, Inc.		3,450		101,568
Westamerica Bancorp		4,266		208,906
Western Alliance Bancorp *		14,334		327,962
Wintrust Financial Corp.		7,110		309,854
Zions Bancorp		28,593		817,474
				193,503,685
Capital Goods 8.3%
3M Co.		98,458		14,035,188
A.O. Smith Corp.		11,376		561,747
AAON, Inc.		4,725		147,420
AAR Corp.		5,688		138,218
Actuant Corp., Class A		12,798		454,713
Acuity Brands, Inc.		7,110		892,376
AECOM Technology Corp. *		17,317		556,568
Aegion Corp. *		5,908		141,615
AGCO Corp.		14,620		788,895
Air Lease Corp.		13,907		573,803
Aircastle Ltd.		12,798		214,750
Albany International Corp., Class A		4,564		170,009
Allegion plc		14,752		772,857
Alliant Techsystems, Inc.		4,666		589,269
Altra Industrial Motion Corp.		3,450		117,955
American Railcar Industries, Inc. (a)		1,775		115,907
AMETEK, Inc.		38,394		2,037,953
Apogee Enterprises, Inc.		4,325		130,182
Applied Industrial Technologies, Inc.		7,110		338,578
Armstrong World Industries, Inc. *		7,277		386,190
Astec Industries, Inc.		2,980		118,932
Astronics Corp. *		2,300		126,178
AZZ, Inc.		3,216		143,144
B/E Aerospace, Inc. *		15,254		1,475,824
Barnes Group, Inc.		7,294		272,650
Beacon Roofing Supply, Inc. *		7,110		245,295
Blount International, Inc. *		7,110		86,600
Briggs & Stratton Corp.		7,351		151,284
Builders FirstSource, Inc. *		14,450		103,751
Carlisle Cos., Inc.		9,954		844,696
Caterpillar, Inc.		100,273		10,250,909
Chart Industries, Inc. *		4,287		308,192
Chicago Bridge & Iron Co. N.V.		16,246		1,322,424
CIRCOR International, Inc.		2,844		216,883
CLARCOR, Inc.		8,532		499,378
Colfax Corp. *		15,087		1,098,183
Comfort Systems USA, Inc.		6,000		99,000
Crane Co.		8,532		632,307
Cubic Corp.		3,615		175,870
Cummins, Inc.		27,377		4,186,765
Curtiss-Wright Corp.		7,110		473,739
Danaher Corp.		94,272		7,393,753
Deere & Co.		57,860		5,275,096
DigitalGlobe, Inc. *		10,603		321,907
Donaldson Co., Inc.		22,752		926,689
Dover Corp.		26,324		2,294,926

2 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
DXP Enterprises, Inc. *		1,475		102,616
Dycom Industries, Inc. *		4,747		141,223
Eaton Corp. plc		73,981		5,451,660
EMCOR Group, Inc.		9,954		443,152
Emerson Electric Co.		110,469		7,371,596
Encore Wire Corp.		3,315		161,109
EnerSys, Inc.		7,304		504,268
EnPro Industries, Inc. *		2,996		219,876
ESCO Technologies, Inc.		5,688		191,231
Esterline Technologies Corp. *		5,688		633,928
Exelis, Inc.		28,440		485,755
Fastenal Co.		41,679		2,031,851
Federal Signal Corp.		10,000		137,200
Flowserve Corp.		22,835		1,683,853
Fluor Corp.		25,957		1,948,852
Fortune Brands Home & Security, Inc.		24,674		986,467
Foster Wheeler AG		16,344		553,408
Franklin Electric Co., Inc.		5,782		221,451
GATX Corp.		8,532		561,832
GenCorp, Inc. *(a)		8,850		164,698
Generac Holdings, Inc.		10,248		498,873
General Cable Corp.		7,235		184,492
General Dynamics Corp.		51,451		6,077,392
General Electric Co.		1,572,120		42,117,095
Graco, Inc.		9,954		726,443
GrafTech International Ltd. *		26,336		275,211
Granite Construction, Inc.		4,907		174,297
Great Lakes Dredge & Dock Corp. *		8,950		68,199
Griffon Corp.		7,175		83,876
H&E Equipment Services, Inc. *		5,786		200,485
Harsco Corp.		12,798		345,290
HD Supply Holdings, Inc. *		15,222		399,882
HEICO Corp.		9,374		488,292
Hexcel Corp. *		14,676		602,450
Honeywell International, Inc.		123,116		11,468,255
Hubbell, Inc., Class B		8,532		998,244
Huntington Ingalls Industries, Inc.		8,532		851,750
Hyster-Yale Materials Handling, Inc.		2,080		174,886
IDEX Corp.		12,798		981,351
Illinois Tool Works, Inc.		61,161		5,293,485
Ingersoll-Rand plc		40,493		2,422,291
ITT Corp.		14,220		621,130
Jacobs Engineering Group, Inc. *		19,908		1,096,334
John Bean Technologies Corp.		4,325		123,695
Joy Global, Inc.		17,117		978,237
Kaman Corp.		4,266		181,433
KBR, Inc.		22,846		554,929
Kennametal, Inc.		12,798		576,422
L-3 Communications Holdings, Inc.		13,826		1,675,296
Lennox International, Inc.		8,532		724,537
Lincoln Electric Holdings, Inc.		14,220		934,112
Lindsay Corp. (a)		1,643		138,488
Lockheed Martin Corp.		42,463		6,949,070
Masco Corp.		59,724		1,272,121
Masonite International Corp. *		2,500		131,675
MasTec, Inc. *		9,111		327,996
Meritor, Inc. *		16,166		223,252
Moog, Inc., Class A *		8,532		614,816
MRC Global, Inc. *		15,802		454,940
MSC Industrial Direct Co., Inc., Class A		7,110		653,907
Mueller Industries, Inc.		11,546		332,756
Mueller Water Products, Inc., Class A		24,175		203,795
National Presto Industries, Inc. (a)		500		35,195
Navistar International Corp. *		11,903		407,916
Nordson Corp.		8,532		695,699
Nortek, Inc. *		1,875		157,537
Northrop Grumman Corp.		33,921		4,123,098
Orbital Sciences Corp. *		8,532		223,368
Oshkosh Corp.		14,220		768,591
Owens Corning		17,339		711,072
PACCAR, Inc.		56,880		3,603,917
Pall Corp.		18,486		1,566,504
Parker Hannifin Corp.		24,174		3,027,310
Pentair Ltd. - Reg’d		32,862		2,452,820
Polypore International, Inc. *(a)		7,163		318,395
Powell Industries, Inc.		1,575		97,382
Precision Castparts Corp.		22,752		5,755,801
Primoris Services Corp.		7,508		217,507
Proto Labs, Inc. *		3,137		206,979
Quanex Building Products Corp.		5,732		102,030
Quanta Services, Inc. *		32,959		1,118,958
Raven Industries, Inc.		5,688		178,319
Raytheon Co.		49,210		4,801,420
RBC Bearings, Inc.		4,266		255,832
Regal-Beloit Corp.		7,110		542,706
Rexnord Corp. *		5,972		152,704
Rockwell Automation, Inc.		22,752		2,754,812
Rockwell Collins, Inc.		21,724		1,717,065
Roper Industries, Inc.		15,642		2,216,159
Rush Enterprises, Inc., Class A *		4,655		154,453
Sensata Technologies Holding N.V. *		22,983		985,741
Simpson Manufacturing Co., Inc.		6,222		206,944
Snap-on, Inc.		8,832		1,035,729
SolarCity Corp. *(a)		6,084		319,410
Spirit AeroSystems Holdings, Inc., Class A *		17,551		569,530
SPX Corp.		6,622		692,926
Standex International Corp.		1,422		105,000
Stanley Black & Decker, Inc.		24,402		2,132,735
Sun Hydraulics Corp.		3,315		122,390
TAL International Group, Inc. *		4,278		187,462
Taser International, Inc. *		8,000		106,160
Teledyne Technologies, Inc. *		5,735		543,506
Tennant Co.		4,266		272,640
Terex Corp.		18,486		710,972
Textainer Group Holdings Ltd. (a)		5,813		225,196
Textron, Inc.		44,082		1,728,896
The Babcock & Wilcox Co.		18,486		597,468
The Boeing Co.		108,294		14,646,763
The Gorman-Rupp Co.		2,424		76,865
The Greenbrier Cos., Inc. *		3,350		185,925
The Manitowoc Co., Inc.		24,174		653,907
The Middleby Corp. *		2,877		687,085
The Timken Co.		12,798		821,888
The Toro Co.		8,826		569,983
Thermon Group Holdings, Inc. *		2,850		67,117
Titan International, Inc.		8,636		136,535
TransDigm Group, Inc.		7,639		1,441,556

3

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Trex Co., Inc. *		3,550		109,730
TriMas Corp. *		6,307		221,439
Trinity Industries, Inc.		12,798		1,107,411
Triumph Group, Inc.		7,412		513,652
Tutor Perini Corp. *		6,296		192,846
United Rentals, Inc. *		14,353		1,450,371
United Technologies Corp.		132,570		15,407,285
Universal Forest Products, Inc.		2,916		141,572
URS Corp.		12,798		575,910
USG Corp. *		13,274		397,955
Valmont Industries, Inc.		3,991		618,405
W.W. Grainger, Inc.		9,405		2,429,970
Wabash National Corp. *		10,225		139,980
WABCO Holdings, Inc. *		9,954		1,062,789
Wabtec Corp.		14,420		1,135,431
Watsco, Inc.		4,266		429,288
Watts Water Technologies, Inc., Class A		4,360		243,114
WESCO International, Inc. *		7,110		607,336
Woodward, Inc.		8,532		381,380
Xylem, Inc.		28,440		1,060,812
				275,826,628
Commercial & Professional Services 1.1%
ABM Industries, Inc.		6,244		170,274
ACCO Brands Corp. *		18,272		109,997
Brady Corp., Class A		7,110		192,894
Cintas Corp.		18,486		1,148,350
Clean Harbors, Inc. *		8,532		521,391
Copart, Inc. *		17,504		622,617
Covanta Holding Corp.		21,330		407,190
Deluxe Corp.		8,532		478,560
Equifax, Inc.		19,908		1,409,287
Exponent, Inc.		1,708		120,807
FTI Consulting, Inc. *		6,160		198,783
G&K Services, Inc., Class A		4,266		221,021
Healthcare Services Group, Inc.		11,376		338,550
Herman Miller, Inc.		8,788		274,801
HNI Corp.		8,532		319,353
Huron Consulting Group, Inc. *		4,244		288,083
ICF International, Inc. *		3,050		113,460
IHS, Inc., Class A *		9,351		1,177,384
Insperity, Inc.		4,275		136,886
Interface, Inc.		8,767		159,910
Iron Mountain, Inc.		26,065		811,664
KAR Auction Services, Inc.		22,308		681,286
Kelly Services, Inc., Class A		4,725		83,916
Kforce, Inc.		5,800		127,774
Kimball International, Inc., Class B		5,700		91,941
Knoll, Inc.		7,287		127,814
Korn/Ferry International *		7,180		218,057
Manpowergroup, Inc.		12,798		1,049,180
McGrath RentCorp		3,246		111,273
Mistras Group, Inc. *		3,050		69,418
Mobile Mini, Inc.		5,688		247,712
MSA Safety, Inc.		4,581		250,397
Navigant Consulting, Inc. *		8,584		144,469
Nielsen N.V.		39,370		1,899,996
On Assignment, Inc. *		8,235		290,284
Performant Financial Corp. *		6,000		56,940
Pitney Bowes, Inc.		32,706		903,667
Quad/Graphics, Inc.		7,955		166,896
R.R. Donnelley & Sons Co.		27,932		442,443
Republic Services, Inc.		44,123		1,561,954
Robert Half International, Inc.		24,174		1,102,093
Rollins, Inc.		11,532		353,686
RPX Corp. *		6,232		101,270
Steelcase, Inc., Class A		11,822		193,763
Stericycle, Inc. *		14,220		1,626,341
Team, Inc. *		4,266		178,831
Tetra Tech, Inc.		9,132		243,003
The ADT Corp.		29,504		950,029
The Advisory Board Co. *		5,688		275,242
The Brink’s Co.		8,532		227,804
The Corporate Executive Board Co.		4,656		317,400
The Dun & Bradstreet Corp.		6,282		648,616
Towers Watson & Co., Class A		10,116		1,138,151
TrueBlue, Inc. *		8,532		232,156
Tyco International Ltd.		72,522		3,164,860
UniFirst Corp.		2,844		281,414
United Stationers, Inc.		8,532		339,830
US Ecology, Inc.		4,006		197,896
Verisk Analytics, Inc., Class A *		22,752		1,346,691
Viad Corp.		3,050		69,967
WageWorks, Inc. *		4,756		192,523
Waste Connections, Inc.		18,916		862,002
Waste Management, Inc.		68,256		3,049,678
West Corp.		3,319		88,949
				34,928,874
Consumer Durables & Apparel 1.5%
Arctic Cat, Inc.		2,844		106,081
Beazer Homes USA, Inc. *		7,775		152,157
Brunswick Corp.		14,220		612,882
Callaway Golf Co.		8,590		68,892
Carter’s, Inc.		9,146		659,701
Cavco Industries, Inc. *		1,566		120,222
Coach, Inc.		43,430		1,768,035
Columbia Sportswear Co.		2,844		237,673
Crocs, Inc. *		15,693		234,296
D.R. Horton, Inc.		45,504		1,077,535
Deckers Outdoor Corp. *		4,966		383,822
Ethan Allen Interiors, Inc.		3,416		80,071
Fossil Group, Inc. *		8,532		893,812
G-III Apparel Group Ltd. *		1,875		137,475
Garmin Ltd.		18,486		1,089,010
Hanesbrands, Inc.		15,642		1,326,911
Harman International Industries, Inc.		11,376		1,194,821
Hasbro, Inc.		18,486		992,698
Helen of Troy Ltd. *		5,802		336,284
Hovnanian Enterprises, Inc., Class A *(a)		14,650		68,708
Iconix Brand Group, Inc. *		8,774		367,982
iRobot Corp. *(a)		3,455		122,065
Jarden Corp. *		17,748		1,004,182
Kate Spade & Co. *		17,305		630,075
KB Home		11,670		192,322
La-Z-Boy, Inc.		9,066		221,392
LeapFrog Enterprises, Inc. *		7,694		53,319
Leggett & Platt, Inc.		21,671		735,080

4 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Lennar Corp., Class A		24,774		1,013,257
Libbey, Inc. *		4,698		126,611
Lululemon Athletica, Inc. *		16,864		752,640
M.D.C Holdings, Inc.		7,110		203,417
Mattel, Inc.		56,122		2,179,217
Meritage Homes Corp. *		4,575		183,503
Michael Kors Holdings Ltd. *		27,410		2,586,956
Mohawk Industries, Inc. *		10,118		1,372,608
Movado Group, Inc.		3,116		119,312
NACCO Industries, Inc., Class A		1,422		77,143
Newell Rubbermaid, Inc.		45,504		1,332,357
NIKE, Inc., Class B		116,214		8,938,019
NVR, Inc. *		648		721,639
Oxford Industries, Inc.		2,846		181,945
Polaris Industries, Inc.		10,068		1,297,967
PulteGroup, Inc.		54,036		1,056,944
PVH Corp.		13,181		1,735,015
Quiksilver, Inc. *		21,845		129,759
Ralph Lauren Corp.		9,954		1,527,740
Skechers U.S.A., Inc., Class A *		5,932		263,974
Smith & Wesson Holding Corp. *(a)		7,110		112,907
Standard Pacific Corp. *		25,633		205,833
Steven Madden Ltd. *		10,517		335,072
Sturm Ruger & Co., Inc. (a)		2,897		175,616
Taylor Morrison Home Corp., Class A *		5,056		107,693
Tempur Sealy International, Inc. *		9,954		547,072
The Ryland Group, Inc.		6,158		232,157
Toll Brothers, Inc. *		24,174		875,582
Tumi Holdings, Inc. *		10,032		185,592
Tupperware Brands Corp.		7,838		656,197
Under Armour, Inc., Class A *		25,239		1,281,889
Universal Electronics, Inc. *		1,765		80,272
Vera Bradley, Inc. *		3,712		100,038
VF Corp.		55,290		3,484,376
Whirlpool Corp.		11,776		1,690,445
Wolverine World Wide, Inc.		17,064		441,446
				51,179,713
Consumer Services 2.2%
American Public Education, Inc. *		2,846		100,578
Apollo Education Group, Inc. *		15,394		412,559
Aramark		5,852		154,376
Ascent Capital Group, Inc., Class A *		1,808		111,698
Bally Technologies, Inc. *		6,082		358,838
Bloomin’ Brands, Inc. *		11,728		244,412
Bob Evans Farms, Inc.		4,401		196,593
Boyd Gaming Corp. *		7,857		86,034
Bright Horizons Family Solutions, Inc. *		6,408		249,784
Brinker International, Inc.		11,871		589,395
Buffalo Wild Wings, Inc. *		2,858		413,010
Burger King Worldwide, Inc.		9,600		246,624
Caesars Entertainment Corp. *(a)		9,237		168,391
Capella Education Co.		1,806		103,375
Carnival Corp.		69,767		2,792,773
Chipotle Mexican Grill, Inc. *		4,802		2,627,126
Choice Hotels International, Inc.		6,807		306,383
Churchill Downs, Inc.		1,759		151,573
Cracker Barrel Old Country Store, Inc.		4,266		428,946
Darden Restaurants, Inc.		21,330		1,069,060
Denny’s Corp. *		14,450		93,925
DeVry Education Group, Inc.		9,112		384,800
DineEquity, Inc.		3,379		268,259
Domino’s Pizza, Inc.		8,682		629,011
Dunkin’ Brands Group, Inc.		16,343		731,513
Fiesta Restaurant Group, Inc. *		3,486		140,381
Graham Holdings Co., Class B		612		414,287
Grand Canyon Education, Inc. *		7,314		322,182
H&R Block, Inc.		45,674		1,360,172
Hillenbrand, Inc.		11,376		344,579
Hilton Worldwide Holdings, Inc. *		18,985		429,441
Hyatt Hotels Corp., Class A *		8,638		528,300
International Game Technology		41,473		520,486
International Speedway Corp., Class A		4,408		137,045
Interval Leisure Group, Inc.		7,303		149,638
ITT Educational Services, Inc. *(a)		4,671		80,435
Jack in the Box, Inc.		6,244		360,466
K12, Inc. *		5,688		130,596
Krispy Kreme Doughnuts, Inc. *		10,125		190,755
Las Vegas Sands Corp.		60,297		4,613,926
Life Time Fitness, Inc. *		5,933		315,636
LifeLock, Inc. *		14,390		161,456
Marriott International, Inc., Class A		34,900		2,150,538
Marriott Vacations Worldwide Corp. *		4,468		253,112
Matthews International Corp., Class A		5,688		233,208
McDonald’s Corp.		155,273		15,749,340
MGM Resorts International *		57,338		1,476,453
Multimedia Games Holding Co., Inc. *		6,504		186,990
Norwegian Cruise Line Holdings Ltd. *		15,103		509,726
Orient-Express Hotels Ltd., Class A *		14,220		186,993
Panera Bread Co., Class A *		4,380		672,812
Papa John’s International, Inc.		5,944		257,791
Penn National Gaming, Inc. *		10,154		118,396
Pinnacle Entertainment, Inc. *		9,131		225,353
Popeyes Louisiana Kitchen, Inc. *		4,266		183,097
Red Robin Gourmet Burgers, Inc. *		3,752		270,444
Regis Corp.		8,788		120,923
Royal Caribbean Cruises Ltd.		25,146		1,390,322
Scientific Games Corp., Class A *		6,060		54,237
SeaWorld Entertainment, Inc.		12,827		391,480
Service Corp. International		33,141		663,483
Six Flags Entertainment Corp.		17,070		690,652
Sonic Corp. *		9,954		207,043
Sotheby’s		10,050		396,774
Starbucks Corp.		118,493		8,678,427
Starwood Hotels & Resorts Worldwide, Inc.		30,262		2,416,421
Texas Roadhouse, Inc.		9,954		251,637
The Cheesecake Factory, Inc.		7,552		346,410
The Wendy’s Co.		58,302		478,076
Vail Resorts, Inc.		5,688		396,397
Wyndham Worldwide Corp.		21,724		1,606,055
Wynn Resorts Ltd.		12,798		2,751,186

5

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Yum! Brands, Inc.		71,147		5,500,375
				71,932,968
Diversified Financials 4.5%
Affiliated Managers Group, Inc. *		8,532		1,609,135
American Express Co.		143,321		13,113,872
Ameriprise Financial, Inc.		31,414		3,537,531
Artisan Partners Asset Management, Inc., Class A		5,229		300,772
Berkshire Hathaway, Inc., Class B *		282,036		36,196,500
BGC Partners, Inc., Class A		19,004		133,028
BlackRock, Inc.		19,631		5,985,492
Capital One Financial Corp.		91,008		7,179,621
Cash America International, Inc.		4,409		209,472
CBOE Holdings, Inc.		15,684		794,865
CME Group, Inc.		49,850		3,589,200
Cohen & Steers, Inc. (a)		4,266		172,730
Credit Acceptance Corp. *		1,422		185,713
Discover Financial Services		76,362		4,515,285
E*TRADE Financial Corp. *		44,530		907,076
Eaton Vance Corp.		18,486		686,755
Encore Capital Group, Inc. *		3,116		134,892
Evercore Partners, Inc., Class A		6,658		366,456
Federated Investors, Inc., Class B		17,064		482,399
Financial Engines, Inc.		7,110		289,377
First Cash Financial Services, Inc. *		4,281		224,838
Franklin Resources, Inc.		64,452		3,558,395
GAMCO Investors, Inc., Class A		1,894		144,133
Green Dot Corp., Class A *		5,820		106,913
Greenhill & Co., Inc.		3,438		170,937
HFF, Inc., Class A		7,110		229,795
ICG Group, Inc. *		6,500		125,580
Interactive Brokers Group, Inc., Class A		6,279		144,543
IntercontinentalExchange Group, Inc.		17,715		3,479,226
Invesco Ltd.		67,902		2,492,004
Investment Technology Group, Inc. *		6,232		119,218
Janus Capital Group, Inc.		28,440		332,179
KCG Holdings, Inc., Class A *		15,172		181,912
Legg Mason, Inc.		16,635		812,453
Leucadia National Corp.		46,001		1,179,926
LPL Financial Holdings, Inc.		12,539		588,079
MarketAxess Holdings, Inc.		4,635		247,277
McGraw Hill Financial, Inc.		44,082		3,604,585
Moody’s Corp.		30,056		2,570,990
Morgan Stanley		215,319		6,644,744
MSCI, Inc. *		19,908		859,229
Navient Corp. *		69,080		1,091,464
Nelnet, Inc., Class A		4,342		178,760
NewStar Financial, Inc. *		7,245		97,518
Northern Trust Corp.		34,128		2,061,331
PHH Corp. *		8,720		222,098
PICO Holdings, Inc. *		3,150		73,049
Piper Jaffray Cos. *		4,671		205,664
Portfolio Recovery Associates, Inc. *		8,532		476,000
Raymond James Financial, Inc.		19,150		926,860
Santander Consumer USA Holdings, Inc.		8,275		162,604
SEI Investments Co.		20,496		674,933
SLM Corp.		69,080		594,779
State Street Corp.		68,940		4,499,714
Stifel Financial Corp. *		9,207		416,156
T. Rowe Price Group, Inc.		39,816		3,246,199
TD Ameritrade Holding Corp.		36,972		1,121,731
The Bank of New York Mellon Corp.		182,560		6,309,274
The Charles Schwab Corp. (b)		182,663		4,604,934
The Goldman Sachs Group, Inc.		65,755		10,508,307
The NASDAQ OMX Group, Inc.		18,574		703,955
Virtus Investment Partners, Inc. *		1,097		202,386
Voya Financial, Inc.		21,987		787,135
Waddell & Reed Financial, Inc., Class A		13,098		790,857
Walter Investment Management Corp. *(a)		4,324		125,007
WisdomTree Investments, Inc. *		17,064		177,295
World Acceptance Corp. *(a)		2,844		224,648
				148,689,785
Energy 9.8%
Alpha Natural Resources, Inc. *(a)		35,312		119,355
Anadarko Petroleum Corp.		79,210		8,147,541
Antero Resources Corp. *		5,465		336,097
Apache Corp.		61,749		5,756,242
Approach Resources, Inc. *		5,872		114,621
Arch Coal, Inc. (a)		32,348		115,159
Athlon Energy, Inc. *		8,233		357,806
Atwood Oceanics, Inc. *		8,532		421,054
Baker Hughes, Inc.		68,256		4,813,413
Bill Barrett Corp. *		7,278		181,950
Bonanza Creek Energy, Inc. *		3,150		168,903
Bristow Group, Inc.		5,960		452,841
C&J Energy Services, Inc. *		6,305		192,996
Cabot Oil & Gas Corp.		68,256		2,473,597
Cameron International Corp. *		33,741		2,157,737
CARBO Ceramics, Inc.		2,991		411,472
Carrizo Oil & Gas, Inc. *		5,688		326,832
Cheniere Energy, Inc. *		37,556		2,557,939
Chesapeake Energy Corp.		81,212		2,332,409
Chevron Corp.		299,112		36,727,962
Cimarex Energy Co.		14,220		1,836,229
Cloud Peak Energy, Inc. *		9,954		183,850
Cobalt International Energy, Inc. *		47,273		874,078
Comstock Resources, Inc.		7,110		193,321
Concho Resources, Inc. *		17,989		2,370,950
ConocoPhillips		192,382		15,379,017
CONSOL Energy, Inc.		34,751		1,534,952
Continental Resources, Inc. *		8,732		1,225,624
Core Laboratories N.V.		7,130		1,139,730
CVR Energy, Inc. (a)		2,844		133,839
Delek US Holdings, Inc.		8,547		265,555
Denbury Resources, Inc.		61,195		1,033,584
Devon Energy Corp.		59,724		4,413,604
Diamond Offshore Drilling, Inc. (a)		10,354		528,675
Diamondback Energy, Inc. *		6,347		479,072
Dresser-Rand Group, Inc. *		11,525		705,330
Dril-Quip, Inc. *		6,635		678,230

6 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Energen Corp.		11,376		971,283
Energy XXI Bermuda Ltd.		11,988		257,143
Ensco plc, Class A		35,675		1,878,645
EOG Resources, Inc.		85,320		9,026,856
EP Energy Corp., Class A *		10,385		208,323
EPL Oil & Gas, Inc. *		7,140		270,677
EQT Corp.		24,174		2,583,717
Era Group, Inc. *		2,844		83,102
EXCO Resources, Inc. (a)		26,908		141,536
Exterran Holdings, Inc.		9,982		416,649
Exxon Mobil Corp.		678,074		68,166,779
FMC Technologies, Inc. *		37,160		2,157,510
Forum Energy Technologies, Inc. *		7,854		259,496
Frank’s International N.V.		4,818		114,861
Geospace Technologies Corp. *(a)		1,767		89,622
Gulfmark Offshore, Inc., Class A		4,266		197,985
Gulfport Energy Corp. *		13,404		824,748
Halcon Resources Corp. *(a)		28,476		177,690
Halliburton Co.		135,769		8,776,108
Helix Energy Solutions Group, Inc. *		15,642		365,710
Helmerich & Payne, Inc.		16,842		1,851,778
Hercules Offshore, Inc. *		24,740		112,320
Hess Corp.		42,761		3,904,079
HollyFrontier Corp.		31,783		1,565,313
Hornbeck Offshore Services, Inc. *		5,688		257,325
Key Energy Services, Inc. *		26,012		209,397
Kinder Morgan, Inc.		104,700		3,495,933
Kodiak Oil & Gas Corp. *		38,430		489,214
Kosmos Energy Ltd. *		15,080		158,038
Laredo Petroleum, Inc. *		10,504		290,646
Magnum Hunter Resources Corp. *		25,810		197,705
Marathon Oil Corp.		112,338		4,118,311
Marathon Petroleum Corp.		47,068		4,207,409
Matador Resources Co. *		8,215		204,389
McDermott International, Inc. *(a)		36,990		268,547
Murphy Oil Corp.		29,862		1,841,590
Nabors Industries Ltd.		46,926		1,230,869
National Oilwell Varco, Inc.		66,834		5,471,700
Newfield Exploration Co. *		20,792		758,492
Newpark Resources, Inc. *		14,250		160,455
Noble Corp. plc		40,059		1,260,256
Noble Energy, Inc.		56,880		4,099,342
Northern Oil & Gas, Inc. *		9,230		140,757
Oasis Petroleum, Inc. *		13,641		675,229
Occidental Petroleum Corp.		126,672		12,627,932
Oceaneering International, Inc.		17,064		1,229,461
Oil States International, Inc. *		8,532		917,873
ONEOK, Inc.		32,384		2,088,444
Parker Drilling Co. *		17,645		114,163
Patterson-UTI Energy, Inc.		25,596		846,972
PBF Energy, Inc., Class A		8,672		276,724
PDC Energy, Inc. *		5,688		365,113
Peabody Energy Corp.		43,107		696,609
Phillips 66		92,853		7,873,006
Pioneer Natural Resources Co.		22,137		4,652,312
QEP Resources, Inc.		27,182		868,193
Range Resources Corp.		25,596		2,379,148
Resolute Energy Corp. *		12,872		107,095
Rex Energy Corp. *		11,464		227,904
Rice Energy, Inc. *		7,225		229,249
Rosetta Resources, Inc. *		11,390		536,811
Rowan Cos. plc, Class A		19,908		616,352
RPC, Inc.		10,026		221,474
RSP Permian, Inc. *		6,220		167,940
Sanchez Energy Corp. *		7,437		256,056
SandRidge Energy, Inc. *(a)		54,577		364,029
Schlumberger Ltd.		204,802		21,307,600
SEACOR Holdings, Inc. *		2,844		227,748
SemGroup Corp., Class A		7,110		483,053
SM Energy Co.		9,954		754,613
Solazyme, Inc. *(a)		8,548		85,395
Southwestern Energy Co. *		54,036		2,457,017
Spectra Energy Corp.		103,960		4,218,697
Stone Energy Corp. *		7,460		331,149
Superior Energy Services, Inc.		24,474		812,292
Targa Resources Corp.		5,688		653,892
Teekay Corp.		5,934		343,282
Tesoro Corp.		22,752		1,278,662
TETRA Technologies, Inc. *		12,841		148,057
The Williams Cos., Inc.		107,749		5,059,893
Tidewater, Inc.		8,532		444,688
Transocean Ltd. (a)		53,893		2,289,914
Ultra Petroleum Corp. *		23,565		636,726
Unit Corp. *		7,110		451,627
Valero Energy Corp.		88,164		4,941,592
W&T Offshore, Inc.		14,220		208,607
Weatherford International Ltd. *		118,026		2,559,984
Western Refining, Inc.		9,954		408,313
Whiting Petroleum Corp. *		19,071		1,370,251
World Fuel Services Corp.		11,376		527,391
WPX Energy, Inc. *		30,041		636,268
				325,378,671
Food & Staples Retailing 2.0%
Casey’s General Stores, Inc.		7,110		506,445
Costco Wholesale Corp.		68,256		7,919,061
CVS Caremark Corp.		185,800		14,551,856
PriceSmart, Inc.		2,844		260,653
Rite Aid Corp. *		139,713		1,168,001
Safeway, Inc.		38,784		1,331,843
SpartanNash Co.		5,732		139,173
Sprouts Farmers Market, Inc. *		13,105		355,145
SUPERVALU, Inc. *		32,825		245,203
Susser Holdings Corp. *		2,868		227,461
Sysco Corp.		92,430		3,468,898
The Andersons, Inc.		4,666		237,686
The Chefs’ Warehouse, Inc. *		3,212		59,358
The Fresh Market, Inc. *		5,988		183,532
The Kroger Co.		82,718		3,948,957
United Natural Foods, Inc. *		8,110		546,695
Wal-Mart Stores, Inc.		252,275		19,367,152
Walgreen Co.		136,365		9,806,007
Weis Markets, Inc.		2,844		134,720
Whole Foods Market, Inc.		57,822		2,211,113
				66,668,959
Food, Beverage & Tobacco 4.6%
Altria Group, Inc.		314,915		13,087,867
Annie’s, Inc. *		1,475		48,262
Archer-Daniels-Midland Co.		102,545		4,608,372

7

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
B&G Foods, Inc.		8,532		292,306
Boulder Brands, Inc. *		7,110		96,483
Brown-Forman Corp., Class B		25,111		2,327,036
Bunge Ltd.		22,752		1,768,058
Cal-Maine Foods, Inc.		1,775		123,824
Campbell Soup Co.		27,606		1,267,115
Coca-Cola Enterprises, Inc.		40,138		1,831,898
ConAgra Foods, Inc.		64,134		2,071,528
Constellation Brands, Inc., Class A *		25,764		2,167,525
Darling Ingredients, Inc. *		26,551		530,755
Dean Foods Co.		14,373		249,803
Dr. Pepper Snapple Group, Inc.		32,879		1,897,118
Flowers Foods, Inc.		26,328		548,939
Fresh Del Monte Produce, Inc.		7,110		205,977
General Mills, Inc.		101,121		5,554,577
Hormel Foods Corp.		22,752		1,119,626
Ingredion, Inc.		12,798		974,568
J&J Snack Foods Corp.		2,141		200,547
Kellogg Co.		40,342		2,782,791
Keurig Green Mountain, Inc.		20,061		2,262,480
Kraft Foods Group, Inc.		92,597		5,505,818
Lancaster Colony Corp.		2,856		255,012
Lorillard, Inc.		57,849		3,596,472
McCormick & Co., Inc. Non-Voting Shares		20,308		1,468,472
Mead Johnson Nutrition Co.		32,706		2,926,206
Molson Coors Brewing Co., Class B		24,174		1,588,957
Mondelez International, Inc., Class A		265,970		10,005,791
Monster Beverage Corp. *		20,638		1,431,864
PepsiCo, Inc.		238,050		21,026,957
Philip Morris International, Inc.		248,019		21,959,602
Pilgrim’s Pride Corp. *		13,175		335,172
Pinnacle Foods, Inc.		9,497		297,351
Post Holdings, Inc. *		6,269		313,262
Reynolds American, Inc.		49,146		2,930,576
Sanderson Farms, Inc.		2,958		273,645
Seaboard Corp. *		76		204,809
Snyder’s-Lance, Inc.		8,532		231,900
The Boston Beer Co., Inc., Class A *		1,422		304,891
The Coca-Cola Co.		592,480		24,238,357
The Hain Celestial Group, Inc. *		8,210		744,811
The Hershey Co.		24,174		2,353,097
The Hillshire Brands Co.		18,504		985,893
The J.M. Smucker Co.		17,111		1,755,589
The WhiteWave Foods Co., Class A *		27,054		851,930
Tootsie Roll Industries, Inc. (a)		4,527		131,736
TreeHouse Foods, Inc. *		5,688		426,316
Tyson Foods, Inc., Class A		44,082		1,871,722
Universal Corp.		4,266		228,444
Vector Group Ltd. (a)		8,009		167,468
				154,429,575
Health Care Equipment & Services 4.5%
Abaxis, Inc.		3,455		142,761
Abbott Laboratories		244,639		9,788,006
ABIOMED, Inc. *(a)		4,731		107,867
Acadia Healthcare Co., Inc. *		4,373		186,465
Aetna, Inc.		59,794		4,637,025
Air Methods Corp. *		4,608		222,106
Alere, Inc. *		12,798		457,784
Align Technology, Inc. *		10,549		576,081
Allscripts Healthcare Solutions, Inc. *		29,862		440,166
AmerisourceBergen Corp.		36,238		2,651,897
Amsurg Corp. *		4,524		204,847
Analogic Corp.		1,626		111,088
athenahealth, Inc. *		5,688		721,864
Baxter International, Inc.		86,742		6,454,472
Becton Dickinson & Co.		30,462		3,585,377
Bio-Reference Labs, Inc. *(a)		3,416		91,412
Boston Scientific Corp. *		221,949		2,847,606
Brookdale Senior Living, Inc. *		14,220		472,957
C.R. Bard, Inc.		11,737		1,736,020
Cantel Medical Corp.		6,241		216,875
Cardinal Health, Inc.		52,908		3,736,892
Cardiovascular Systems, Inc. *		4,279		120,026
CareFusion Corp. *		35,550		1,526,161
Centene Corp. *		8,532		635,805
Cerner Corp. *		45,504		2,459,491
Chemed Corp. (a)		2,891		254,639
Cigna Corp.		45,632		4,096,841
Community Health Systems, Inc. *		18,503		772,870
Computer Programs & Systems, Inc.		1,619		102,936
CONMED Corp.		4,303		193,205
Covidien plc		73,250		5,355,307
Cyberonics, Inc. *		3,238		196,870
DaVita HealthCare Partners, Inc. *		26,184		1,848,329
DENTSPLY International, Inc.		22,752		1,075,942
DexCom, Inc. *		12,798		432,060
Edwards Lifesciences Corp. *		18,486		1,501,063
Emeritus Corp. *		4,454		139,321
Endologix, Inc. *		8,653		113,008
Envision Healthcare Holdings, Inc. *		10,776		371,556
ExamWorks Group, Inc. *		3,986		118,065
Express Scripts Holding Co. *		121,538		8,686,321
Globus Medical, Inc., Class A *		9,061		219,095
Greatbatch, Inc. *		3,250		151,808
Haemonetics Corp. *		8,532		290,600
Hanger, Inc. *		4,799		145,794
HCA Holdings, Inc. *		48,699		2,580,560
Health Net, Inc. *		15,642		625,367
HealthSouth Corp.		14,220		499,406
HealthStream, Inc. *		6,180		159,011
HeartWare International, Inc. *		1,952		176,012
Henry Schein, Inc. *		14,220		1,701,423
Hill-Rom Holdings, Inc.		9,954		395,074
HMS Holdings Corp. *		12,972		243,874
Hologic, Inc. *		39,816		973,103
Humana, Inc.		25,596		3,185,678
ICU Medical, Inc. *		1,608		96,593
IDEXX Laboratories, Inc. *		8,546		1,097,990
Insulet Corp. *		7,110		260,439
Integra LifeSciences Holdings Corp. *		4,280		192,386
Intuitive Surgical, Inc. *		6,177		2,283,884
IPC The Hospitalist Co., Inc. *		1,908		83,284

8 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Kindred Healthcare, Inc.		14,220		352,940
Laboratory Corp. of America Holdings *		15,642		1,604,556
Landauer, Inc.		1,475		69,886
LifePoint Hospitals, Inc. *		8,532		522,500
Magellan Health Services, Inc. *		5,688		346,342
Masimo Corp. *		8,532		210,228
McKesson Corp.		36,972		7,011,370
MedAssets, Inc. *		8,558		200,428
Medidata Solutions, Inc. *		6,910		267,210
MEDNAX, Inc. *		14,820		854,077
Medtronic, Inc.		157,189		9,593,245
Meridian Bioscience, Inc.		9,954		203,161
Merit Medical Systems, Inc. *		7,110		99,753
Molina Healthcare, Inc. *		4,455		191,966
MWI Veterinary Supply, Inc. *		1,669		232,842
National Healthcare Corp.		1,475		79,650
Neogen Corp. *		6,278		237,246
NuVasive, Inc. *		7,297		243,282
NxStage Medical, Inc. *		8,958		122,993
Omnicare, Inc.		18,486		1,174,785
Omnicell, Inc. *		4,625		122,701
Owens & Minor, Inc.		9,954		345,205
Patterson Cos., Inc.		12,992		508,767
Quality Systems, Inc.		6,232		97,032
Quest Diagnostics, Inc.		24,474		1,465,748
Quidel Corp. *		4,855		110,209
ResMed, Inc. (a)		22,752		1,138,965
Select Medical Holdings Corp.		13,110		198,617
Sirona Dental Systems, Inc. *		8,607		647,419
Spectranetics Corp. *		6,472		138,760
St. Jude Medical, Inc.		46,315		3,005,843
STERIS Corp.		8,532		456,633
Stryker Corp.		44,576		3,766,226
Team Health Holdings, Inc. *		10,482		532,171
Teleflex, Inc.		7,110		758,210
Tenet Healthcare Corp. *		18,827		884,869
The Cooper Cos., Inc.		7,110		917,332
The Ensign Group, Inc.		1,975		92,628
Thoratec Corp. *		8,532		282,580
Tornier NV *		5,860		126,049
UnitedHealth Group, Inc.		154,752		12,322,902
Universal American Corp.		12,798		100,592
Universal Health Services, Inc., Class B		14,220		1,273,685
Varian Medical Systems, Inc. *		17,269		1,423,829
VCA Antech, Inc. *		12,798		430,653
Volcano Corp. *		8,532		148,116
WellCare Health Plans, Inc. *		7,110		550,670
WellPoint, Inc.		44,156		4,784,744
West Pharmaceutical Services, Inc.		11,376		478,816
Wright Medical Group, Inc. *		8,532		259,373
Zimmer Holdings, Inc.		27,165		2,834,668
				148,573,237
Household & Personal Products 1.9%
Avon Products, Inc.		67,419		963,418
Church & Dwight Co., Inc.		22,752		1,575,121
Colgate-Palmolive Co.		136,391		9,329,144
Coty, Inc., Class A		13,468		224,646
Elizabeth Arden, Inc. *		3,338		90,560
Energizer Holdings, Inc.		10,068		1,167,888
Harbinger Group, Inc. *		8,850		104,784
Herbalife Ltd. (a)		13,054		846,291
Kimberly-Clark Corp.		60,259		6,770,099
Nu Skin Enterprises, Inc., Class A		9,954		735,003
Revlon, Inc., Class A *		4,625		145,780
Spectrum Brands Holdings, Inc.		3,286		255,881
The Clorox Co.		20,055		1,797,329
The Estee Lauder Cos., Inc., Class A		40,186		3,079,051
The Procter & Gamble Co.		425,444		34,371,621
WD-40 Co.		1,850		133,514
				61,590,130
Insurance 3.1%
ACE Ltd.		52,814		5,477,340
Aflac, Inc.		72,128		4,416,397
Alleghany Corp. *		2,844		1,197,665
Allied World Assurance Co. Holdings AG		17,064		639,900
Ambac Financial Group, Inc. *		7,215		203,319
American Equity Investment Life Holding Co.		9,131		205,630
American Financial Group, Inc.		11,922		696,006
American International Group, Inc.		230,751		12,476,707
American National Insurance Co.		545		62,403
AMERISAFE, Inc.		2,850		109,753
AmTrust Financial Services, Inc. (a)		4,799		204,917
Aon plc		46,291		4,163,413
Arch Capital Group Ltd. *		17,906		1,019,389
Argo Group International Holdings Ltd.		4,281		207,414
Arthur J. Gallagher & Co.		23,934		1,096,895
Aspen Insurance Holdings Ltd.		11,376		522,727
Assurant, Inc.		11,978		812,228
Assured Guaranty Ltd.		26,171		639,096
Axis Capital Holdings Ltd.		16,411		754,742
Brown & Brown, Inc.		18,486		558,092
Cincinnati Financial Corp.		24,174		1,185,009
Citizens, Inc. *		6,232		41,567
CNA Financial Corp.		5,704		229,187
CNO Financial Group, Inc.		35,958		580,003
eHealth, Inc. *		2,508		92,345
Employers Holdings, Inc.		5,688		119,619
Endurance Specialty Holdings Ltd.		6,560		339,283
Enstar Group Ltd. *		1,422		200,360
Erie Indemnity Co., Class A		4,280		324,124
Everest Re Group Ltd.		7,646		1,223,513
FBL Financial Group, Inc., Class A		3,116		136,200
Fidelity National Financial, Inc., Class A		42,769		1,425,918
First American Financial Corp.		17,064		478,133
Genworth Financial, Inc., Class A *		75,366		1,280,468
Greenlight Capital Re Ltd., Class A *		4,266		135,190
HCC Insurance Holdings, Inc.		17,064		801,667
Hilltop Holdings, Inc. *		10,814		224,390
Horace Mann Educators Corp.		6,293		183,819
Infinity Property & Casualty Corp.		1,422		91,022
Kemper Corp.		8,532		298,193
Lincoln National Corp.		40,885		1,960,845

9

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Loews Corp.		48,583		2,095,385
Maiden Holdings Ltd.		7,475		91,494
Markel Corp. *		2,182		1,396,960
Marsh & McLennan Cos., Inc.		84,529		4,249,273
MBIA, Inc. *		23,264		273,585
Meadowbrook Insurance Group, Inc.		7,240		49,304
Mercury General Corp.		5,688		268,189
MetLife, Inc.		173,088		8,815,372
Montpelier Re Holdings Ltd.		8,673		272,679
National Interstate Corp.		2,408		68,122
National Western Life Insurance Co., Class A		300		73,413
Old Republic International Corp.		37,116		634,684
OneBeacon Insurance Group Ltd., Class A		3,777		57,750
PartnerRe Ltd.		7,744		831,473
Platinum Underwriters Holdings Ltd.		4,660		298,939
Primerica, Inc.		7,110		320,234
Principal Financial Group, Inc.		44,124		2,063,679
ProAssurance Corp.		9,404		427,412
Protective Life Corp.		12,798		669,335
Prudential Financial, Inc.		72,716		5,974,347
Reinsurance Group of America, Inc.		11,376		889,148
RenaissanceRe Holdings Ltd.		7,146		744,399
RLI Corp.		5,688		253,685
Safety Insurance Group, Inc.		2,844		146,694
Selective Insurance Group, Inc.		8,532		202,806
StanCorp Financial Group, Inc.		7,110		427,311
State Auto Financial Corp.		2,108		45,554
Stewart Information Services Corp.		3,616		116,001
Symetra Financial Corp.		11,703		244,008
The Allstate Corp.		69,570		4,053,148
The Chubb Corp.		39,241		3,636,071
The Hanover Insurance Group, Inc.		6,616		397,291
The Hartford Financial Services Group, Inc.		68,345		2,368,154
The Navigators Group, Inc. *		1,428		88,979
The Progressive Corp.		88,575		2,217,032
The Travelers Cos., Inc.		57,637		5,386,178
Torchmark Corp.		14,364		1,162,479
United Fire Group, Inc.		3,050		84,638
Unum Group		41,626		1,411,538
Validus Holdings Ltd.		14,459		539,754
W.R. Berkley Corp.		17,208		766,961
White Mountains Insurance Group Ltd.		612		361,398
Willis Group Holdings plc		26,548		1,113,423
XL Group plc		44,846		1,455,701
				103,858,868
Materials 3.9%
A. Schulman, Inc.		4,419		155,593
Air Products & Chemicals, Inc.		32,859		3,942,094
Airgas, Inc.		10,368		1,102,326
AK Steel Holding Corp. *(a)		22,195		135,833
Albemarle Corp.		14,220		983,882
Alcoa, Inc.		183,071		2,491,596
Allegheny Technologies, Inc.		16,142		662,952
American Vanguard Corp.		3,216		48,948
AptarGroup, Inc.		9,954		662,837
Ashland, Inc.		11,376		1,171,728
Avery Dennison Corp.		17,064		865,145
Axiall Corp.		11,391		526,378
Balchem Corp.		5,688		313,636
Ball Corp.		24,316		1,467,714
Bemis Co., Inc.		17,064		706,620
Berry Plastics Group, Inc. *		11,828		279,259
Boise Cascade Co. *		5,820		152,251
Cabot Corp.		9,954		562,899
Calgon Carbon Corp. *		8,602		184,513
Carpenter Technology Corp.		7,110		444,304
Celanese Corp., Series A		25,596		1,604,869
CF Industries Holdings, Inc.		9,146		2,225,313
Chemtura Corp. *		17,064		426,259
Clearwater Paper Corp. *		4,266		264,791
Cliffs Natural Resources, Inc. (a)		16,333		256,101
Coeur Mining, Inc. *		13,168		90,069
Commercial Metals Co.		18,486		328,126
Compass Minerals International, Inc.		5,688		528,927
Crown Holdings, Inc. *		23,046		1,125,797
Cytec Industries, Inc.		7,110		706,378
Deltic Timber Corp.		1,650		101,079
Domtar Corp.		5,688		516,925
E.I. du Pont de Nemours & Co.		146,466		10,151,558
Eagle Materials, Inc.		7,692		668,973
Eastman Chemical Co.		24,174		2,133,597
Ecolab, Inc.		43,443		4,743,541
Ferro Corp. *		13,075		167,360
Flotek Industries, Inc. *		6,200		175,956
FMC Corp.		21,377		1,636,623
Freeport-McMoRan Copper & Gold, Inc.		162,411		5,530,095
Globe Specialty Metals, Inc.		7,573		151,384
Graphic Packaging Holding Co. *		33,448		367,594
Greif, Inc., Class A		5,688		310,679
H.B. Fuller Co.		7,352		351,646
Haynes International, Inc.		2,844		151,016
Headwaters, Inc. *		23,160		299,459
Hecla Mining Co.		39,018		108,080
Horsehead Holding Corp. *		6,312		104,653
Huntsman Corp.		32,072		856,002
Innophos Holdings, Inc.		4,266		223,965
Innospec, Inc.		2,308		97,328
International Flavors & Fragrances, Inc.		12,798		1,270,329
International Paper Co.		69,701		3,319,859
Intrepid Potash, Inc. *(a)		6,232		101,021
Kaiser Aluminum Corp.		2,844		194,729
KapStone Paper & Packaging Corp. *		14,260		414,253
Koppers Holdings, Inc.		4,266		155,026
Kraton Performance Polymers, Inc. *		4,564		113,507
Kronos Worldwide, Inc.		7,245		109,327
Louisiana-Pacific Corp. *		21,330		302,886
LSB Industries, Inc. *		2,846		108,603
LyondellBasell Industries N.V., Class A		69,068		6,877,101
Martin Marietta Materials, Inc.		7,110		873,108

10 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Materion Corp.		2,950		100,566
MeadWestvaco Corp.		27,018		1,096,390
Minerals Technologies, Inc.		5,716		354,392
Monsanto Co.		81,788		9,965,868
Myers Industries, Inc.		5,688		120,870
Neenah Paper, Inc.		1,875		91,463
NewMarket Corp.		1,548		606,057
Newmont Mining Corp.		77,880		1,782,673
Nucor Corp.		48,854		2,473,478
Olin Corp.		14,220		387,495
OM Group, Inc.		4,266		131,393
Owens-Illinois, Inc. *		27,018		897,808
P.H. Glatfelter Co.		6,132		161,394
Packaging Corp. of America		15,642		1,081,801
PolyOne Corp.		14,220		570,649
PPG Industries, Inc.		22,002		4,435,823
Praxair, Inc.		46,926		6,205,494
Quaker Chemical Corp.		2,844		210,541
Reliance Steel & Aluminum Co.		11,423		821,885
Rentech, Inc. *		57,320		133,556
Resolute Forest Products, Inc. *		14,826		221,945
Rock-Tenn Co., Class A		11,517		1,163,563
Rockwood Holdings, Inc.		11,676		891,696
Royal Gold, Inc.		9,969		625,256
RPM International, Inc.		21,330		918,683
RTI International Metals, Inc. *		4,424		118,652
Schnitzer Steel Industries, Inc., Class A		3,986		99,331
Schweitzer-Mauduit International, Inc.		5,688		237,076
Sealed Air Corp.		30,131		992,214
Sensient Technologies Corp.		8,532		467,554
Sigma-Aldrich Corp.		18,639		1,836,501
Silgan Holdings, Inc.		7,211		352,113
Sonoco Products Co.		15,642		660,718
Steel Dynamics, Inc.		34,128		589,391
Stepan Co.		2,844		152,211
Stillwater Mining Co. *		17,446		293,267
SunCoke Energy, Inc. *		9,038		181,483
Texas Industries, Inc. *		3,038		260,934
The Dow Chemical Co.		190,324		9,919,687
The Mosaic Co.		51,761		2,587,532
The Scotts Miracle-Gro Co., Class A		7,110		426,244
The Sherwin-Williams Co.		13,345		2,730,520
The Valspar Corp.		14,220		1,061,665
Tredegar Corp.		3,356		71,315
Tronox Ltd., Class A		12,987		345,065
United States Steel Corp.		22,260		512,870
US Silica Holdings, Inc.		8,415		425,547
Valhi, Inc.		4,738		27,196
Vulcan Materials Co.		20,014		1,220,254
W.R. Grace & Co. *		12,047		1,109,288
Wausau Paper Corp.		2,028		21,578
Westlake Chemical Corp.		5,982		483,645
Worthington Industries, Inc.		9,986		402,436
				130,141,426
Media 3.5%
AMC Networks, Inc., Class A *		9,954		615,954
Cablevision Systems Corp., Class A		33,370		588,313
Carmike Cinemas, Inc. *		3,616		124,390
CBS Corp., Class B Non-Voting Shares		86,939		5,182,434
Charter Communications, Inc., Class A *		11,046		1,581,124
Cinemark Holdings, Inc.		17,064		537,857
Clear Channel Outdoor Holdings, Inc., Class A		11,796		96,255
Comcast Corp., Class A		408,383		21,317,593
Cumulus Media, Inc., Class A *		11,464		72,452
DIRECTV *		74,182		6,115,564
Discovery Communications, Inc., Class A *		35,872		2,760,709
DISH Network Corp., Class A *		33,238		1,949,741
DreamWorks Animation SKG, Inc., Class A *		10,599		297,620
Gannett Co., Inc.		35,892		997,439
Gray Television, Inc. *		8,558		97,904
Harte-Hanks, Inc.		6,232		44,310
John Wiley & Sons, Inc., Class A		7,510		411,398
Lamar Advertising Co., Class A		9,954		491,130
Liberty Global plc, Class A *		56,473		2,542,414
Liberty Global plc, Series C *		60,573		2,592,524
Liberty Media Corp., Class A *		16,056		2,041,199
Live Nation Entertainment, Inc. *		21,421		508,106
Loral Space & Communications, Inc. *		2,844		205,735
Meredith Corp.		7,110		319,666
Morningstar, Inc.		3,158		224,660
National CineMedia, Inc.		9,982		156,418
News Corp., Class A *		77,508		1,322,287
Nexstar Broadcasting Group, Inc., Class A (a)		3,704		172,088
Omnicom Group, Inc.		40,024		2,847,708
Regal Entertainment Group, Class A (a)		12,798		249,689
Rentrak Corp. *		1,808		93,419
Scholastic Corp.		3,246		103,482
Scripps Networks Interactive, Inc., Class A		16,528		1,263,731
Sinclair Broadcast Group, Inc., Class A (a)		11,105		328,486
Sirius XM Holdings, Inc. *		490,685		1,609,447
Starz, Class A *		17,211		526,657
The E.W. Scripps Co., Class A *		4,924		96,116
The Interpublic Group of Cos., Inc.		68,291		1,305,724
The Madison Square Garden Co., Class A *		8,985		492,827
The New York Times Co., Class A		25,596		380,357
The Walt Disney Co.		256,241		21,526,806
Time Warner Cable, Inc.		43,373		6,122,533
Time Warner, Inc.		139,637		9,750,852
Twenty-First Century Fox, Inc., Class A		306,357		10,848,101
Viacom, Inc., Class B		63,320		5,403,096
World Wrestling Entertainment, Inc., Class A (a)		6,372		71,876
				116,388,191

11

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Pharmaceuticals, Biotechnology & Life Sciences 8.3%
AbbVie, Inc.		250,981		13,635,798
ACADIA Pharmaceuticals, Inc. *		14,970		309,131
Acorda Therapeutics, Inc. *		5,929		194,946
Actavis plc *		27,332		5,781,811
Aegerion Pharmaceuticals, Inc. *		3,598		118,194
Affymetrix, Inc. *		11,800		97,468
Agilent Technologies, Inc.		54,036		3,076,810
Akorn, Inc. *		10,045		280,959
Alexion Pharmaceuticals, Inc. *		31,575		5,251,554
Alkermes plc *		22,820		1,045,384
Allergan, Inc.		48,348		8,096,356
Alnylam Pharmaceuticals, Inc. *		8,998		533,491
Amgen, Inc.		118,077		13,695,751
Arena Pharmaceuticals, Inc. *(a)		35,094		215,828
ARIAD Pharmaceuticals, Inc. *(a)		29,120		188,115
Array BioPharma, Inc. *		14,250		59,850
Auxilium Pharmaceuticals, Inc. *		7,110		159,122
AVANIR Pharmaceuticals, Inc., Class A *		23,580		124,502
Bio-Rad Laboratories, Inc., Class A *		2,844		343,356
Biogen Idec, Inc. *		37,045		11,831,062
BioMarin Pharmaceutical, Inc. *		22,063		1,278,771
Bristol-Myers Squibb Co.		257,942		12,830,035
Bruker Corp. *		17,527		367,191
Cambrex Corp. *		4,665		100,251
Celgene Corp. *		64,856		9,924,914
Celldex Therapeutics, Inc. *		12,060		176,197
Cepheid, Inc. *		11,376		512,489
Charles River Laboratories International, Inc. *		7,404		396,706
Clovis Oncology, Inc. *		4,424		226,553
Covance, Inc. *		9,954		834,742
Cubist Pharmaceuticals, Inc. *		12,054		802,796
Depomed, Inc. *		9,100		108,563
Dyax Corp. *		19,378		159,869
Eli Lilly & Co.		155,018		9,279,378
Emergent Biosolutions, Inc. *		7,205		156,276
Endo International plc *		21,052		1,486,061
Exact Sciences Corp. *(a)		8,748		117,923
Exelixis, Inc. *(a)		22,793		75,445
Fluidigm Corp. *		4,965		137,729
Forest Laboratories, Inc. *		37,246		3,530,176
Furiex Pharmaceuticals, Inc. *		1,200		124,032
Genomic Health, Inc. *(a)		3,242		84,260
Gilead Sciences, Inc. *		240,597		19,538,882
Halozyme Therapeutics, Inc. *		14,220		112,338
Hospira, Inc. *		25,596		1,258,555
Idenix Pharmaceuticals, Inc. *(a)		18,737		117,481
Illumina, Inc. *		19,908		3,150,441
ImmunoGen, Inc. *		12,798		151,272
Impax Laboratories, Inc. *		12,802		355,384
Incyte Corp., Ltd. *		23,286		1,153,821
Intercept Pharmaceuticals, Inc. *		2,023		478,662
InterMune, Inc. *		15,723		622,945
Intrexon Corp. *(a)		4,795		101,127
Ironwood Pharmaceuticals, Inc. *		14,376		205,864
Isis Pharmaceuticals, Inc. *		18,581		542,937
Jazz Pharmaceuticals plc *		7,945		1,127,078
Johnson & Johnson		443,329		44,980,160
Keryx Biopharmaceuticals, Inc. *(a)		9,590		126,588
KYTHERA Biopharmaceuticals, Inc. *		1,955		65,434
Lexicon Pharmaceuticals, Inc. *		68,419		90,313
Ligand Pharmaceuticals, Inc. *		3,772		251,630
Luminex Corp. *		7,110		120,799
Mallinckrodt plc *(a)		9,174		713,370
MannKind Corp. *(a)		55,972		498,151
Medivation, Inc. *		11,376		828,514
Merck & Co., Inc.		462,617		26,767,020
Mettler-Toledo International, Inc. *		4,513		1,105,775
MiMedx Group, Inc. *		12,340		67,500
Momenta Pharmaceuticals, Inc. *		7,396		91,636
Mylan, Inc. *		61,747		3,077,470
Myriad Genetics, Inc. *(a)		14,220		471,535
Nektar Therapeutics *		21,330		250,201
Neurocrine Biosciences, Inc. *		11,464		159,235
Novavax, Inc. *		56,045		263,972
NPS Pharmaceuticals, Inc. *		17,179		534,782
OPKO Health, Inc. *(a)		34,186		294,683
Orexigen Therapeutics, Inc. *		14,450		93,347
Pacira Pharmaceuticals, Inc. *		5,325		413,273
PAREXEL International Corp. *		9,954		502,179
PDL BioPharma, Inc. (a)		28,440		266,483
PerkinElmer, Inc.		19,908		895,263
Perrigo Co., plc		20,947		2,894,875
Pfizer, Inc.		1,002,350		29,699,631
Pharmacyclics, Inc. *		10,240		909,619
Prestige Brands Holdings, Inc. *		7,403		253,183
PTC Therapeutics, Inc. *		2,755		65,321
Puma Biotechnology, Inc. *		4,747		362,813
Questcor Pharmaceuticals, Inc.		9,954		897,154
Quintiles Transnational Holdings, Inc. *		8,029		409,318
Raptor Pharmaceutical Corp. *(a)		6,060		49,571
Receptos, Inc. *		1,955		58,181
Regeneron Pharmaceuticals, Inc. *		12,249		3,759,953
Salix Pharmaceuticals Ltd. *		9,732		1,110,227
Sangamo BioSciences, Inc. *		12,240		160,834
Sarepta Therapeutics, Inc. *(a)		5,924		199,520
Seattle Genetics, Inc. *		17,783		593,419
Synageva BioPharma Corp. *		3,796		308,045
Techne Corp.		5,688		499,350
TESARO, Inc. *		3,130		83,383
The Medicines Co. *		8,574		239,215
TherapeuticsMD, Inc. *(a)		15,550		63,133
Theravance, Inc. *(a)		11,501		329,504
Thermo Fisher Scientific, Inc.		61,840		7,229,714
United Therapeutics Corp. *		8,532		816,854
Vertex Pharmaceuticals, Inc. *		38,504		2,782,299
Waters Corp. *		14,220		1,424,275
Zoetis, Inc.		77,177		2,369,334
				277,164,670
Real Estate 3.6%
Acadia Realty Trust		7,163		197,627
Alexander & Baldwin, Inc.		7,110		269,540
Alexander’s, Inc.		699		256,533
Alexandria Real Estate Equities, Inc.		11,840		900,906

12 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Altisource Portfolio Solutions S.A. *		3,172		349,586
Altisource Residential Corp.		8,746		243,926
American Assets Trust, Inc.		4,726		162,102
American Campus Communities, Inc.		15,924		618,488
American Capital Agency Corp.		60,240		1,429,495
American Capital Mortgage Investment Corp.		10,104		206,425
American Homes 4 Rent, Class A		10,338		182,156
American Realty Capital Properties, Inc.		140,160		1,739,386
American Tower Corp.		61,773		5,536,714
Annaly Capital Management, Inc.		143,758		1,694,907
Anworth Mortgage Asset Corp.		23,488		126,835
Apartment Investment & Management Co., Class A		22,758		716,422
Apollo Commercial Real Estate Finance, Inc.		5,972		100,031
Apollo Residential Mortgage, Inc.		5,165		86,669
ARMOUR Residential REIT, Inc.		59,346		258,155
Ashford Hospitality Prime, Inc.		2,152		35,078
Ashford Hospitality Trust, Inc.		11,376		121,723
Associated Estates Realty Corp.		6,293		108,806
AvalonBay Communities, Inc.		18,945		2,687,159
Aviv REIT, Inc.		7,540		209,235
BioMed Realty Trust, Inc.		29,159		632,750
Blackstone Mortgage Trust, Inc., Class A		7,821		232,440
Boston Properties, Inc.		24,174		2,917,318
Brandywine Realty Trust		24,174		369,862
Brixmor Property Group, Inc.		8,275		179,981
Camden Property Trust		12,798		898,931
Capstead Mortgage Corp.		17,064		224,733
CBL & Associates Properties, Inc.		27,018		508,479
CBRE Group, Inc., Class A *		47,143		1,406,747
Chambers Street Properties		45,856		366,848
Chesapeake Lodging Trust		10,810		315,328
Chimera Investment Corp.		153,666		484,048
Colony Financial, Inc.		13,826		306,384
Columbia Property Trust, Inc.		19,115		502,533
CommonWealth REIT		19,205		505,283
CoreSite Realty Corp.		2,844		90,155
Corporate Office Properties Trust		11,912		328,176
Corrections Corp. of America		18,874		613,971
Cousins Properties, Inc.		26,202		314,424
CubeSmart		17,064		311,247
CYS Investments, Inc.		26,908		248,630
DCT Industrial Trust, Inc.		48,348		382,916
DDR Corp.		48,479		839,171
DiamondRock Hospitality Co.		29,900		371,358
Digital Realty Trust, Inc. (a)		19,908		1,144,710
Douglas Emmett, Inc.		19,908		565,188
Duke Realty Corp.		48,567		859,636
DuPont Fabros Technology, Inc.		9,954		254,524
EastGroup Properties, Inc.		5,688		362,098
Education Realty Trust, Inc.		17,064		178,489
Empire State Realty Trust, Inc., Class A		12,895		211,349
EPR Properties		7,822		421,762
Equity Lifestyle Properties, Inc.		14,220		621,983
Equity One, Inc.		8,988		206,364
Equity Residential		52,694		3,256,489
Essex Property Trust, Inc.		10,151		1,836,925
Excel Trust, Inc.		15,100		199,320
Extra Space Storage, Inc.		17,348		908,168
Federal Realty Investment Trust		9,954		1,189,702
FelCor Lodging Trust, Inc.		19,908		195,895
First Industrial Realty Trust, Inc.		14,220		263,639
First Potomac Realty Trust		7,440		97,315
Forest City Enterprises, Inc., Class A *		25,120		478,034
Forestar Group, Inc. *		4,725		82,309
Franklin Street Properties Corp.		12,798		160,231
Gaming & Leisure Properties, Inc.		15,087		506,320
General Growth Properties, Inc.		88,900		2,118,487
Getty Realty Corp.		3,450		67,413
Glimcher Realty Trust		21,330		235,057
Government Properties Income Trust		7,119		181,677
Hatteras Financial Corp.		14,820		300,698
HCP, Inc.		70,143		2,928,470
Health Care REIT, Inc.		44,412		2,808,171
Healthcare Realty Trust, Inc.		13,104		326,683
Healthcare Trust of America, Inc., Class A		27,831		336,755
Hersha Hospitality Trust		23,030		145,780
Highwoods Properties, Inc.		15,878		644,329
Home Properties, Inc.		8,532		530,520
Hospitality Properties Trust		23,818		690,960
Host Hotels & Resorts, Inc.		116,262		2,565,902
Hudson Pacific Properties, Inc.		14,574		345,404
Inland Real Estate Corp.		11,664		123,872
Invesco Mortgage Capital, Inc.		22,936		407,343
Investors Real Estate Trust		13,072		116,079
iStar Financial, Inc. *		11,400		164,616
Jones Lang LaSalle, Inc.		7,110		862,372
Kennedy-Wilson Holdings, Inc.		10,822		268,061
Kilroy Realty Corp.		13,684		828,977
Kimco Realty Corp.		63,990		1,466,651
Kite Realty Group Trust		15,673		97,329
LaSalle Hotel Properties		16,414		541,498
Lexington Realty Trust		28,454		322,953
Liberty Property Trust		23,000		890,330
LTC Properties, Inc.		4,460		177,240
Mack-Cali Realty Corp.		13,118		285,316
Medical Properties Trust, Inc.		25,332		342,489
MFA Financial, Inc.		55,458		456,419
Mid-America Apartment Communities, Inc.		10,930		790,785
National Health Investors, Inc.		4,491		281,675
National Retail Properties, Inc.		19,155		670,042
New Residential Investment Corp.		49,194		311,890
New York Mortgage Trust, Inc.		12,837		102,182
Newcastle Investment Corp.		56,725		273,414
NorthStar Realty Finance Corp.		57,578		952,916
Omega Healthcare Investors, Inc.		19,270		710,870
Parkway Properties, Inc.		10,857		216,814
Pebblebrook Hotel Trust		8,886		315,808
Pennsylvania Real Estate Investment Trust		9,954		178,674
PennyMac Mortgage Investment Trust		8,830		186,490

13

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Piedmont Office Realty Trust, Inc., Class A (a)		28,440		529,553
Plum Creek Timber Co., Inc.		27,902		1,258,380
Post Properties, Inc.		8,532		436,412
Potlatch Corp.		7,110		285,538
Prologis, Inc.		78,384		3,253,720
PS Business Parks, Inc.		3,122		262,841
Public Storage		22,752		3,921,990
RAIT Financial Trust		16,705		130,967
Ramco-Gershenson Properties Trust		10,796		179,214
Rayonier, Inc.		19,908		947,621
Realogy Holdings Corp. *		23,639		878,898
Realty Income Corp.		37,626		1,629,206
Redwood Trust, Inc.		15,642		304,863
Regency Centers Corp.		14,220		759,348
Resource Capital Corp.		13,175		75,888
Retail Opportunity Investments Corp.		7,440		117,552
Retail Properties of America, Inc., Class A		37,452		563,278
RLJ Lodging Trust		18,775		520,255
Rouse Properties, Inc.		5,896		96,223
Ryman Hospitality Properties, Inc. (a)		7,859		362,536
Sabra Health Care REIT, Inc.		5,732		167,833
Saul Centers, Inc.		1,777		85,562
Select Income REIT		7,919		227,513
Senior Housing Properties Trust		31,711		760,430
Silver Bay Realty Trust Corp.		6,773		107,487
Simon Property Group, Inc.		49,128		8,177,847
SL Green Realty Corp.		14,920		1,633,591
Sovran Self Storage, Inc.		6,287		482,842
Spirit Realty Capital, Inc.		64,270		725,608
STAG Industrial, Inc.		4,625		110,769
Starwood Property Trust, Inc.		32,135		783,773
Starwood Waypoint Residential Trust *		6,389		174,356
Strategic Hotels & Resorts, Inc. *		28,440		309,996
Summit Hotel Properties, Inc.		15,100		151,604
Sun Communities, Inc.		7,304		353,660
Sunstone Hotel Investors, Inc.		29,365		431,372
Tanger Factory Outlet Centers, Inc.		14,425		510,933
Taubman Centers, Inc.		9,954		745,555
The Geo Group, Inc.		12,870		437,709
The Howard Hughes Corp. *		4,766		705,749
The Macerich Co.		21,330		1,408,633
The St. Joe Co. *		15,642		368,213
Two Harbors Investment Corp.		54,620		575,149
UDR, Inc.		38,747		1,066,317
Universal Health Realty Income Trust		2,844		123,117
Ventas, Inc.		45,804		3,059,707
Vornado Realty Trust		27,298		2,923,070
Washington Prime Group, Inc. *		24,564		488,578
Washington REIT		9,954		257,112
Weingarten Realty Investors		19,908		632,875
Weyerhaeuser Co.		90,159		2,832,796
WP Carey, Inc.		8,576		545,777
				120,039,294
Retailing 4.1%
Aaron’s, Inc.		12,798		420,286
Abercrombie & Fitch Co., Class A		10,488		398,649
Advance Auto Parts, Inc.		11,390		1,414,296
Amazon.com, Inc. *		58,391		18,250,107
American Eagle Outfitters, Inc.		28,440		305,161
ANN, Inc. *		8,649		336,187
Asbury Automotive Group, Inc. *		4,592		296,827
Ascena Retail Group, Inc. *		22,752		379,845
AutoNation, Inc. *		10,012		572,386
AutoZone, Inc. *		5,186		2,761,545
Barnes & Noble, Inc. *		6,253		113,429
Bed Bath & Beyond, Inc. *		34,200		2,081,070
Best Buy Co., Inc.		41,584		1,150,213
Big Lots, Inc. *		10,082		427,880
Blue Nile, Inc. *		1,675		51,624
Brown Shoe Co., Inc.		8,544		240,514
Cabela’s, Inc. *		7,392		452,612
CarMax, Inc. *		35,550		1,575,221
Chico’s FAS, Inc.		28,440		431,150
Conn’s, Inc. *		4,026		187,773
Core-Mark Holding Co., Inc.		1,422		117,571
CST Brands, Inc.		12,077		399,386
Dick’s Sporting Goods, Inc.		14,620		649,859
Dillard’s, Inc., Class A		5,688		641,322
Dollar General Corp. *		47,252		2,541,213
Dollar Tree, Inc. *		32,412		1,718,808
DSW, Inc., Class A		11,806		295,740
Expedia, Inc.		16,640		1,219,712
Express, Inc. *		13,290		167,587
Family Dollar Stores, Inc.		14,698		861,303
Five Below, Inc. *		5,864		212,277
Foot Locker, Inc.		25,596		1,233,215
Francesca’s Holdings Corp. *		7,465		114,513
Fred’s, Inc., Class A		4,725		72,151
FTD Cos., Inc. *		2,482		74,187
GameStop Corp., Class A		18,874		714,381
Genesco, Inc. *		4,266		319,481
Genuine Parts Co.		24,174		2,086,941
GNC Holdings, Inc., Class A		15,106		557,714
Group 1 Automotive, Inc.		4,266		343,413
Groupon, Inc. *		57,843		340,117
Guess?, Inc.		8,983		229,067
Hibbett Sports, Inc. *		3,438		180,804
HomeAway, Inc. *		9,004		277,323
HSN, Inc.		5,782		321,595
J.C. Penney Co., Inc. *(a)		50,489		453,896
Jos. A. Bank Clothiers, Inc. *		4,615		299,744
Kohl’s Corp.		33,164		1,805,448
L Brands, Inc.		37,166		2,132,957
Lands’ End, Inc. *(a)		1,479		41,057
Liberty Interactive Corp., Class A *		80,255		2,337,828
Liberty Ventures, Series A *		11,548		766,787
Lithia Motors, Inc., Class A		2,844		223,055
LKQ Corp. *		45,904		1,273,377
Lowe’s Cos., Inc.		167,338		7,878,273
Lumber Liquidators Holdings, Inc. *		3,516		273,123
Macy’s, Inc.		57,489		3,443,016
Mattress Firm Holding Corp. *(a)		2,593		116,322
Monro Muffler Brake, Inc.		4,476		241,749

14 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Murphy USA, Inc. *		7,384		375,698
Netflix, Inc. *		9,232		3,857,407
Nordstrom, Inc.		23,293		1,585,322
O’Reilly Automotive, Inc. *		17,499		2,588,977
Office Depot, Inc. *		78,604		402,452
Outerwall, Inc. *(a)		4,339		306,897
Penske Automotive Group, Inc.		6,042		281,074
PetSmart, Inc.		17,207		988,886
Pier 1 Imports, Inc.		17,064		300,497
Pool Corp.		8,532		492,552
Rent-A-Center, Inc.		8,797		245,964
Restoration Hardware Holdings, Inc. *		4,426		294,240
Ross Stores, Inc.		35,758		2,447,635
Sally Beauty Holdings, Inc. *		24,174		619,338
Sears Holdings Corp. *(a)		7,413		311,754
Select Comfort Corp. *		9,954		184,547
Shutterfly, Inc. *		5,704		234,663
Signet Jewelers Ltd.		12,798		1,357,740
Sonic Automotive, Inc., Class A		7,120		187,398
Stage Stores, Inc.		5,688		104,489
Staples, Inc.		101,768		1,144,890
Target Corp.		98,392		5,584,730
The Buckle, Inc. (a)		4,266		191,330
The Cato Corp., Class A		4,285		123,579
The Children’s Place Retail Stores, Inc.		3,238		156,654
The Finish Line, Inc., Class A		7,554		216,573
The Gap, Inc.		40,724		1,679,051
The Home Depot, Inc.		219,809		17,635,276
The Men’s Wearhouse, Inc.		8,532		424,723
The Pep Boys-Manny, Moe & Jack *		6,232		63,504
The Priceline Group, Inc. *		8,154		10,425,949
Tiffany & Co.		18,533		1,842,366
TJX Cos., Inc.		114,006		6,207,627
Tractor Supply Co.		22,752		1,479,335
TripAdvisor, Inc. *		17,138		1,665,299
Ulta Salon, Cosmetics & Fragrance, Inc. *		9,954		845,095
Urban Outfitters, Inc. *		17,406		583,449
Vitamin Shoppe, Inc. *		5,688		244,470
Williams-Sonoma, Inc.		13,192		882,809
zulily, Inc., Class A *(a)		2,066		71,752
				137,459,078
Semiconductors & Semiconductor Equipment 2.3%
Advanced Energy Industries, Inc. *		4,825		94,425
Advanced Micro Devices, Inc. *		94,062		376,248
Altera Corp.		51,192		1,695,991
Amkor Technology, Inc. *		21,590		218,275
Analog Devices, Inc.		49,026		2,567,982
Applied Materials, Inc.		193,425		3,905,251
Applied Micro Circuits Corp. *		10,156		91,404
Atmel Corp. *		71,100		595,818
Avago Technologies Ltd.		38,806		2,742,420
Broadcom Corp., Class A		85,704		2,731,387
Brooks Automation, Inc.		11,376		110,461
Cabot Microelectronics Corp. *		4,266		183,566
Cavium, Inc. *		7,296		357,358
Cirrus Logic, Inc. *		11,477		253,986
Cree, Inc. *		19,918		958,454
Cypress Semiconductor Corp. *		22,310		228,678
Diodes, Inc. *		5,688		157,387
Entegris, Inc. *		21,330		244,655
Entropic Communications, Inc. *		13,175		43,346
Exar Corp. *		7,540		82,035
Fairchild Semiconductor International, Inc. *		19,080		279,904
First Solar, Inc. *		10,918		674,514
Freescale Semiconductor Ltd. *		15,316		339,862
GT Advanced Technologies, Inc. *(a)		19,004		320,407
Hittite Microwave Corp.		3,438		202,154
Integrated Device Technology, Inc. *		21,894		291,190
Intel Corp.		783,522		21,405,821
International Rectifier Corp. *		11,376		305,104
Intersil Corp., Class A		21,856		307,514
KLA-Tencor Corp.		27,018		1,770,219
Kulicke & Soffa Industries, Inc. *		12,798		180,324
Lam Research Corp. *		28,459		1,765,596
Lattice Semiconductor Corp. *		17,788		140,703
Linear Technology Corp.		35,703		1,648,051
Marvell Technology Group Ltd.		63,364		986,577
Maxim Integrated Products, Inc.		45,598		1,561,732
Micrel, Inc.		7,275		77,479
Microchip Technology, Inc.		29,862		1,421,431
Micron Technology, Inc. *		164,165		4,693,477
Microsemi Corp. *		15,642		380,570
MKS Instruments, Inc.		8,532		246,148
Monolithic Power Systems, Inc. *		4,724		185,606
NVIDIA Corp.		95,846		1,821,074
OmniVision Technologies, Inc. *		8,772		197,195
ON Semiconductor Corp. *		68,256		593,145
PMC-Sierra, Inc. *		34,128		241,285
Power Integrations, Inc.		4,294		215,945
Rambus, Inc. *		17,064		206,474
RF Micro Devices, Inc. *		55,458		521,860
Semtech Corp. *		11,376		295,093
Silicon Image, Inc. *		14,350		75,051
Silicon Laboratories, Inc. *		7,110		320,803
Skyworks Solutions, Inc.		29,862		1,293,323
Spansion, Inc., Class A *		7,275		138,589
SunEdison, Inc. *		38,448		757,041
SunPower Corp. *		11,773		392,512
Synaptics, Inc. *		5,688		387,239
Teradyne, Inc.		28,440		506,232
Tessera Technologies, Inc.		8,532		191,885
Texas Instruments, Inc.		171,404		8,052,560
TriQuint Semiconductor, Inc. *		25,596		398,274
Ultratech, Inc. *		5,688		144,361
Veeco Instruments, Inc. *		5,835		194,422
Xilinx, Inc.		42,346		1,988,568
				75,756,441
Software & Services 9.7%
Accenture plc, Class A		101,191		8,242,007
ACI Worldwide, Inc. *		5,878		319,234
Activision Blizzard, Inc.		75,912		1,577,451
Acxiom Corp. *		14,220		323,221
Adobe Systems, Inc. *		75,635		4,881,483

15

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Advent Software, Inc.		5,688		172,119
Akamai Technologies, Inc. *		28,440		1,545,430
Alliance Data Systems Corp. *		8,257		2,114,205
Amdocs Ltd.		24,762		1,191,547
ANSYS, Inc. *		14,367		1,055,256
AOL, Inc. *		15,700		569,596
Aspen Technology, Inc. *		14,373		617,895
Autodesk, Inc. *		35,550		1,861,753
Automatic Data Processing, Inc.		75,560		6,020,621
Bankrate, Inc. *		4,924		74,599
Blackbaud, Inc.		9,954		340,924
Blackhawk Network Holdings, Inc., Class B *		6,358		155,962
Blucora, Inc. *		5,900		111,923
Booz Allen Hamilton Holding Corp.		7,867		174,097
Bottomline Technologies (de), Inc. *		7,110		204,910
Broadridge Financial Solutions, Inc.		19,929		817,488
BroadSoft, Inc. *		4,266		92,018
CA, Inc.		53,067		1,522,492
CACI International, Inc., Class A *		4,266		304,592
Cadence Design Systems, Inc. *		47,742		796,814
Cardtronics, Inc. *		7,110		206,048
Cass Information Systems, Inc.		1,662		83,798
Citrix Systems, Inc. *		28,763		1,782,443
Cognizant Technology Solutions Corp., Class A *		95,814		4,657,519
CommVault Systems, Inc. *		7,110		347,821
Computer Sciences Corp.		24,174		1,520,303
Compuware Corp.		36,972		366,023
comScore, Inc. *		4,947		154,495
Comverse, Inc. *		3,115		77,096
Concur Technologies, Inc. *		7,110		606,981
Constant Contact, Inc. *		5,318		157,094
Convergys Corp.		19,908		434,393
Conversant, Inc. *		12,798		301,777
CoreLogic, Inc. *		16,083		458,848
Cornerstone OnDemand, Inc. *		7,190		288,966
CoStar Group, Inc. *		4,266		676,374
CSG Systems International, Inc.		5,688		149,424
Dealertrack Technologies, Inc. *		6,688		265,580
Demandware, Inc. *		4,505		274,309
Dice Holdings, Inc. *		8,550		60,363
Digital River, Inc. *		6,293		99,052
DST Systems, Inc.		5,688		518,461
eBay, Inc. *		183,511		9,309,513
Electronic Arts, Inc. *		51,192		1,798,375
Ellie Mae, Inc. *		1,975		55,004
Envestnet, Inc. *		4,722		191,430
EPAM Systems, Inc. *		3,350		140,934
Epiq Systems, Inc.		4,825		58,190
Equinix, Inc. *		7,789		1,548,064
Euronet Worldwide, Inc. *		8,532		402,198
EVERTEC, Inc.		8,590		205,387
ExlService Holdings, Inc. *		4,266		120,898
Facebook, Inc., Class A *		268,096		16,970,477
FactSet Research Systems, Inc.		7,110		761,765
Fair Isaac Corp.		4,722		278,126
Fidelity National Information Services, Inc.		47,366		2,564,869
FireEye, Inc. *(a)		4,416		145,154
Fiserv, Inc. *		42,688		2,565,976
FleetCor Technologies, Inc. *		11,537		1,458,392
Forrester Research, Inc.		1,875		70,912
Fortinet, Inc. *		19,986		449,085
Gartner, Inc. *		14,220		1,010,900
Genpact Ltd. *		20,361		343,083
Global Cash Access Holdings, Inc. *		10,025		89,222
Global Eagle Entertainment, Inc. *		8,300		92,379
Global Payments, Inc.		11,918		817,098
Gogo, Inc. *(a)		3,530		63,858
Google, Inc., Class A *		44,354		25,354,964
Google, Inc., Class C *		44,154		24,769,511
Guidewire Software, Inc. *		10,491		396,245
Heartland Payment Systems, Inc.		4,865		201,654
IAC/InterActiveCorp		12,798		847,356
iGATE Corp. *		6,139		214,067
Imperva, Inc. *		3,281		68,507
Infoblox, Inc. *		7,725		100,116
Informatica Corp. *		16,242		594,295
Interactive Intelligence Group, Inc. *		1,875		95,044
International Business Machines Corp.		153,256		28,254,276
Intuit, Inc.		46,076		3,653,366
j2 Global, Inc.		7,231		342,460
Jack Henry & Associates, Inc.		14,220		824,618
Leidos Holdings, Inc.		10,846		413,775
LinkedIn Corp., Class A *		15,025		2,405,352
LogMeIn, Inc. *		3,298		140,396
Manhattan Associates, Inc. *		17,064		553,897
ManTech International Corp., Class A		7,255		213,950
MasterCard, Inc., Class A		159,715		12,210,212
MAXIMUS, Inc.		9,370		418,652
Mentor Graphics Corp.		15,132		320,647
MICROS Systems, Inc. *		12,798		683,669
Microsoft Corp.		1,184,446		48,491,219
MicroStrategy, Inc., Class A *		1,422		200,673
Monotype Imaging Holdings, Inc.		5,688		146,466
Monster Worldwide, Inc. *		15,550		88,013
NetScout Systems, Inc. *		4,778		185,721
NetSuite, Inc. *		4,313		347,153
NeuStar, Inc., Class A *		11,376		318,756
NIC, Inc.		8,532		141,375
Nuance Communications, Inc. *		37,611		608,734
OpenTable, Inc. *		3,344		226,556
Oracle Corp.		542,506		22,796,102
Pandora Media, Inc. *		25,744		631,500
Paychex, Inc.		51,192		2,104,503
Pegasystems, Inc.		5,932		125,996
Progress Software Corp. *		9,010		195,697
Proofpoint, Inc. *		4,525		144,438
PROS Holdings, Inc. *		3,350		77,050
PTC, Inc. *		18,713		688,638
Qlik Technologies, Inc. *		13,955		302,963
QuinStreet, Inc. *		8,550		47,538
Rackspace Hosting, Inc. *		17,064		622,665
RealPage, Inc. *		8,103		171,865
Red Hat, Inc. *		29,862		1,496,683
Rovi Corp. *		17,402		420,606

16 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Salesforce.com, Inc. *		88,523		4,658,965
Sapient Corp. *		16,210		266,654
Science Applications International Corp.		6,198		240,049
ServiceNow, Inc. *		15,287		799,663
Shutterstock, Inc. *		1,665		108,292
SolarWinds, Inc. *		9,109		356,071
Solera Holdings, Inc.		10,354		675,598
Splunk, Inc. *		13,857		580,054
SPS Commerce, Inc. *		2,308		131,302
SS&C Technologies Holdings, Inc. *		9,284		395,963
Sykes Enterprises, Inc. *		6,200		125,116
Symantec Corp.		112,921		2,483,133
Synchronoss Technologies, Inc. *		5,688		180,594
Synopsys, Inc. *		23,005		885,462
Syntel, Inc. *		1,832		148,209
Tableau Software, Inc., Class A *		5,355		310,804
Take-Two Interactive Software, Inc. *		14,220		293,359
Tangoe, Inc. *		4,625		69,190
TeleTech Holdings, Inc. *		5,758		151,896
Teradata Corp. *		25,178		1,057,224
The Ultimate Software Group, Inc. *		4,266		542,337
The Western Union Co.		96,696		1,563,574
TIBCO Software, Inc. *		23,340		502,043
TiVo, Inc. *		21,330		253,827
Total System Services, Inc.		24,709		747,694
Trulia, Inc. *(a)		5,924		228,963
Twitter, Inc. *		11,085		359,597
Tyler Technologies, Inc. *		5,688		444,403
Unisys Corp. *		7,110		166,872
United Online, Inc.		1,841		20,104
Vantiv, Inc., Class A *		23,015		713,235
VeriFone Systems, Inc. *		19,380		635,858
Verint Systems, Inc. *		7,781		360,494
VeriSign, Inc. *		22,886		1,146,131
Virtusa Corp. *		3,450		118,024
Visa, Inc., Class A		80,263		17,242,900
VMware, Inc., Class A *		12,990		1,253,535
Web.com Group, Inc. *		5,688		195,895
WebMD Health Corp. *		7,522		321,942
WEX, Inc. *		5,835		561,852
Workday, Inc., Class A *		4,772		373,982
Xerox Corp.		172,140		2,125,929
Yahoo! Inc. *		151,187		5,238,630
Yelp, Inc. *		8,991		594,755
Zillow, Inc., Class A *(a)		3,340		394,187
Zynga, Inc., Class A *		94,600		326,370
				324,094,764
Technology Hardware & Equipment 6.1%
3D Systems Corp. *(a)		14,254		721,965
ADTRAN, Inc.		9,954		223,368
Amphenol Corp., Class A		25,596		2,452,097
Anixter International, Inc.		4,313		444,239
Apple, Inc.		140,003		88,621,899
ARRIS Group, Inc. *		21,330		706,236
Arrow Electronics, Inc. *		16,283		939,529
Aruba Networks, Inc. *		15,642		289,612
Avnet, Inc.		24,174		1,053,261
AVX Corp.		10,012		134,962
Badger Meter, Inc.		1,908		94,503
Belden, Inc.		8,532		614,219
Benchmark Electronics, Inc. *		8,720		202,217
Black Box Corp.		1,975		48,131
Brocade Communications Systems, Inc. *		71,465		651,761
CalAmp Corp. *		6,232		119,031
CDW Corp.		7,748		227,869
Checkpoint Systems, Inc. *		7,540		98,020
Ciena Corp. *		14,220		275,868
Cisco Systems, Inc.		805,218		19,824,467
Cognex Corp. *		14,220		511,920
Coherent, Inc. *		4,266		255,875
CommScope Holding Co., Inc. *		7,725		204,249
Comtech Telecommunications Corp.		2,986		97,553
Corning, Inc.		217,835		4,639,885
Cray, Inc. *		4,924		138,069
Daktronics, Inc.		7,375		91,524
Diebold, Inc.		9,954		373,574
Dolby Laboratories, Inc., Class A *		7,552		313,710
DTS, Inc. *		2,950		53,424
EchoStar Corp., Class A *		5,962		304,479
Electro Rent Corp.		3,450		55,717
Electronics For Imaging, Inc. *		7,110		289,306
EMC Corp.		323,950		8,604,112
Emulex Corp. *		15,080		80,829
F5 Networks, Inc. *		12,021		1,304,879
Fabrinet *		5,700		108,414
FARO Technologies, Inc. *		4,266		181,390
FEI Co.		6,759		564,039
Finisar Corp. *		14,220		337,725
FLIR Systems, Inc.		24,174		843,914
Harmonic, Inc. *		22,928		165,999
Harris Corp.		17,358		1,340,905
Hewlett-Packard Co.		296,776		9,941,996
II-VI, Inc. *		11,396		153,390
Infinera Corp. *		28,440		258,804
Ingram Micro, Inc., Class A *		24,174		671,312
Insight Enterprises, Inc. *		7,110		193,250
InterDigital, Inc.		7,110		270,109
InvenSense, Inc. *(a)		10,086		194,660
IPG Photonics Corp. *(a)		4,360		275,116
Itron, Inc. *		5,688		218,704
Ixia *		8,571		99,595
Jabil Circuit, Inc.		31,284		588,765
JDS Uniphase Corp. *		38,394		421,182
Juniper Networks, Inc. *		83,898		2,052,145
Knowles Corp. *		13,162		371,300
Lexmark International, Inc., Class A		9,707		423,128
Littelfuse, Inc.		2,844		249,305
Measurement Specialties, Inc. *		2,008		127,568
Methode Electronics, Inc.		6,300		196,245
Motorola Solutions, Inc.		36,699		2,474,247
MTS Systems Corp.		1,853		122,669
National Instruments Corp.		15,642		447,987
NCR Corp. *		24,174		789,523
NetApp, Inc.		51,268		1,897,429
NETGEAR, Inc. *		5,688		186,965

17

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Newport Corp. *		5,800		107,474
OSI Systems, Inc. *		2,891		164,642
Palo Alto Networks, Inc. *		6,800		509,388
Park Electrochemical Corp.		3,216		86,382
Plantronics, Inc.		8,532		386,841
Plexus Corp. *		4,808		200,782
Polycom, Inc. *		21,460		273,615
QLogic Corp. *		9,342		92,859
QUALCOMM, Inc.		263,802		21,222,871
Quantum Corp. *		44,325		50,530
Riverbed Technology, Inc. *		25,147		510,987
Rofin-Sinar Technologies, Inc. *		4,459		103,627
Rogers Corp. *		1,908		118,792
Ruckus Wireless, Inc. *		7,540		81,432
SanDisk Corp.		38,394		3,710,012
Sanmina Corp. *		11,376		231,502
ScanSource, Inc. *		3,420		126,882
Seagate Technology plc		50,962		2,738,188
Sonus Networks, Inc. *		40,333		148,022
Super Micro Computer, Inc. *		5,732		123,238
SYNNEX Corp. *		3,300		218,163
TE Connectivity Ltd.		65,510		3,895,225
Tech Data Corp. *		7,110		423,116
Trimble Navigation Ltd. *		39,816		1,436,163
TTM Technologies, Inc. *		9,097		68,227
Ubiquiti Networks, Inc. *(a)		4,870		170,255
Universal Display Corp. *		6,230		162,977
ViaSat, Inc. *		7,110		385,575
Vishay Intertechnology, Inc.		21,801		325,271
Western Digital Corp.		33,400		2,934,190
Zebra Technologies Corp., Class A *		8,532		633,928
				202,871,295
Telecommunication Services 2.4%
AT&T, Inc.		816,456		28,959,694
Atlantic Tele-Network, Inc.		2,844		158,752
CenturyLink, Inc.		93,168		3,509,639
Cincinnati Bell, Inc. *		33,139		130,899
Cogent Communications Holdings, Inc.		7,110		260,724
Consolidated Communications Holdings, Inc.		4,266		87,112
Crown Castle International Corp.		53,347		4,093,315
Frontier Communications Corp. (a)		154,998		897,438
General Communication, Inc., Class A *		10,043		113,888
Level 3 Communications, Inc. *		25,596		1,117,265
Premiere Global Services, Inc. *		9,954		129,502
SBA Communications Corp., Class A *		20,189		2,049,183
Shenandoah Telecommunications Co.		6,032		166,544
Sprint Corp. *		134,288		1,282,450
T-Mobile US, Inc. *		39,946		1,371,346
Telephone & Data Systems, Inc.		18,486		512,247
tw telecom, Inc. *		24,174		792,665
United States Cellular Corp.		2,844		122,150
USA Mobility, Inc.		8,648		133,352
Verizon Communications, Inc.		649,678		32,457,913
Vonage Holdings Corp. *		55,512		210,946
Windstream Holdings, Inc. (a)		92,430		884,555
				79,441,579
Transportation 2.2%
Alaska Air Group, Inc.		11,376		1,120,081
Allegiant Travel Co.		2,844		327,060
AMERCO		967		266,989
American Airlines Group, Inc. *		30,264		1,215,402
ArcBest Corp.		4,615		197,384
Avis Budget Group, Inc. *		19,548		1,118,732
C.H. Robinson Worldwide, Inc.		21,371		1,279,268
Con-way, Inc.		8,618		398,238
CSX Corp.		158,364		4,655,902
Delta Air Lines, Inc.		133,916		5,344,588
Expeditors International of Washington, Inc.		32,706		1,488,450
FedEx Corp.		46,095		6,645,055
Forward Air Corp.		5,688		255,164
Genesee & Wyoming, Inc., Class A *		7,110		692,158
Hawaiian Holdings, Inc. *		9,396		145,074
Heartland Express, Inc.		7,615		164,674
Hertz Global Holdings, Inc. *		69,978		2,065,751
Hub Group, Inc., Class A *		5,816		273,526
J.B. Hunt Transport Services, Inc.		14,958		1,161,638
JetBlue Airways Corp. *		44,082		425,832
Kansas City Southern		17,088		1,837,302
Kirby Corp. *		8,532		943,213
Knight Transportation, Inc.		7,110		173,271
Landstar System, Inc.		8,532		553,983
Matson, Inc.		7,110		174,693
Norfolk Southern Corp.		49,834		5,020,775
Old Dominion Freight Line, Inc. *		10,512		672,347
Roadrunner Transportation Systems, Inc. *		3,350		87,502
Ryder System, Inc.		8,532		740,492
Saia, Inc. *		6,504		283,444
SkyWest, Inc.		7,545		86,315
Southwest Airlines Co.		109,829		2,904,977
Spirit Airlines, Inc. *		13,511		798,095
Swift Transportation Co. *		17,613		436,098
Union Pacific Corp.		71,197		14,187,426
United Continental Holdings, Inc. *		57,062		2,531,841
United Parcel Service, Inc., Class B		112,485		11,684,942
UTi Worldwide, Inc.		17,064		166,374
Werner Enterprises, Inc.		6,276		165,686
Wesco Aircraft Holdings, Inc. *		7,386		160,572
XPO Logistics, Inc. *		8,065		202,673
				73,052,987
Utilities 3.1%
AES Corp.		99,951		1,409,309
AGL Resources, Inc.		17,661		942,744
ALLETE, Inc.		7,110		353,154
Alliant Energy Corp.		17,064		994,831
Ameren Corp.		37,430		1,472,870
American Electric Power Co., Inc.		76,788		4,096,640
American States Water Co.		5,688		172,233
American Water Works Co., Inc.		27,021		1,313,491

18 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Aqua America, Inc.		26,418		670,489
Atmos Energy Corp.		14,220		712,422
Avista Corp.		11,376		356,183
Black Hills Corp.		6,212		358,246
California Water Service Group		6,076		134,037
Calpine Corp. *		61,152		1,426,065
CenterPoint Energy, Inc.		65,971		1,591,220
Chesapeake Utilities Corp.		2,093		136,903
Cleco Corp.		8,932		464,732
CMS Energy Corp.		42,660		1,269,135
Connecticut Water Service, Inc.		3,098		99,353
Consolidated Edison, Inc.		45,504		2,503,175
Dominion Resources, Inc.		92,768		6,397,281
DTE Energy Co.		27,702		2,108,676
Duke Energy Corp.		109,770		7,802,452
Dynegy, Inc. *		15,874		534,954
Edison International		50,276		2,772,219
El Paso Electric Co.		7,110		270,962
Entergy Corp.		28,440		2,144,945
Exelon Corp.		134,048		4,936,988
FirstEnergy Corp.		65,492		2,214,939
Great Plains Energy, Inc.		23,258		591,916
Hawaiian Electric Industries, Inc. (a)		14,220		341,991
IDACORP, Inc.		8,532		467,810
Integrys Energy Group, Inc.		11,776		682,890
ITC Holdings Corp.		28,062		1,027,069
MDU Resources Group, Inc.		28,946		980,690
MGE Energy, Inc.		4,758		178,615
Middlesex Water Co.		3,116		63,785
National Fuel Gas Co.		12,884		966,300
New Jersey Resources Corp.		7,110		391,121
NextEra Energy, Inc.		68,670		6,685,711
NiSource, Inc.		47,666		1,781,278
Northeast Utilities		48,967		2,223,102
Northwest Natural Gas Co.		5,688		257,496
NorthWestern Corp.		5,688		273,024
NRG Energy, Inc.		50,123		1,786,384
NRG Yield, Inc., Class A (a)		3,116		146,172
OGE Energy Corp.		29,440		1,081,331
ONE Gas, Inc.		8,049		294,835
Ormat Technologies, Inc.		6,103		181,747
Otter Tail Corp.		4,622		132,097
Pepco Holdings, Inc.		40,108		1,110,992
PG&E Corp.		72,536		3,327,226
Piedmont Natural Gas Co., Inc.		10,554		377,728
Pinnacle West Capital Corp.		17,064		945,687
PNM Resources, Inc.		12,798		364,231
Portland General Electric Co.		11,376		376,204
PPL Corp.		102,672		3,602,760
Public Service Enterprise Group, Inc.		79,632		3,102,463
Questar Corp.		27,171		654,006
SCANA Corp.		22,804		1,185,808
Sempra Energy		35,550		3,567,442
SJW Corp.		6,553		177,193
South Jersey Industries, Inc.		5,688		327,174
Southwest Gas Corp.		7,110		372,280
TECO Energy, Inc.		29,862		515,717
The Empire District Electric Co.		6,044		145,116
The Laclede Group, Inc.		5,196		242,549
The Southern Co.		140,018		6,129,988
UGI Corp.		17,064		830,505
UIL Holdings Corp.		9,033		333,950
Unitil Corp.		4,726		158,226
UNS Energy Corp.		5,688		344,522
Vectren Corp.		12,798		510,384
Westar Energy, Inc.		18,972		683,941
WGL Holdings, Inc.		8,532		345,973
Wisconsin Energy Corp.		36,972		1,682,965
Xcel Energy, Inc.		78,264		2,407,401
				104,018,443
Total Common Stock
(Cost $2,602,004,270)				3,320,270,971
Other Investment Companies 0.1% of net assets
Equity Fund 0.0%
iShares Russell 3000 ETF		5,000		574,550
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (e)		1,315,038		1,315,038
Total Other Investment Companies
(Cost $1,784,529)				1,889,588
Rights 0.0% of net assets
Telecommunication Services 0.0%
Contra Leap Wireless CVR *(c)(d)		8,528		21,490
Total Rights
(Cost $21,490)				21,490
End of Investments
Collateral Invested for Securities on Loan 0.4% of net assets
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (e)		14,783,137		14,783,137
Total Collateral Invested for Securities on Loan
(Cost $14,783,137)				14,783,137
End of Collateral Invested for Securities on Loan

19

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

At 05/31/14, the tax basis cost of the fund’s investments was $2,604,790,666 and the unrealized appreciation and depreciation were $736,406,459 and ($19,015,076), respectively, with a net unrealized appreciation of $717,391,383.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $15,057,975. Non-Cash Collateral received for securities on loan amounted to $790,484.
(b)	Issuer is affiliated with the fund’s adviser.
(c)	Illiquid security. At the period end, the value of these amounted to $21,490 or 0.0% of net assets.
(d)	Fair-valued by management in accordance with procedures approved by the Board of Trustees.
(e)	The rate shown is the 7-day yield.

CVR —	Contingent Value Rights
ETF —	Exchange Traded Fund
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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. If the fund determines that either the volume and/or level of activity for an

20 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$3,320,270,971		$—		$—		$3,320,270,971
Other Investment Companies1		1,889,588		—		—		1,889,588
Rights1		—		—		21,490		21,490
Total		$3,322,160,559		$—		$21,490		$3,322,182,049
Other Financial Instruments
Collateral Invested for Securities on Loan		$14,783,137		$—		$—		$14,783,137

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		May 31,
Investments in Securities	2013		(Losses)		(Losses)		Purchases		Sales		in		out		2014
Rights		$—		$—		$—		$21,490		$—		$—		$—		$21,490
Total		$—		$—		$—		$21,490		$—		$—		$—		$21,490

21

 Schwab U.S. Broad Market 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 May 31, 2014.

REG54093MAY14

22 

Schwab Strategic Trust
Schwab U.S. Large-Cap ETF™

Portfolio Holdings as of May 31, 2014 (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		2,171,789,528		2,770,362,672
	0	.1%	Other Investment Companies		1,881,106		1,964,988
	99	.9%	Total Investments		2,173,670,634		2,772,327,660
	0	.1%	Collateral Invested for Securities on Loan		3,058,607		3,058,607
	0	.0%	Other Assets and Liabilities, Net				268,592
	100	.0%	Net Assets				2,775,654,859

	Number		Value
Security	of Shares		($)
Common Stock 99.8% of net assets
Automobiles & Components 1.3%
Allison Transmission Holdings, Inc.		18,624		576,785
Autoliv, Inc.		14,141		1,498,946
BorgWarner, Inc.		33,128		2,083,420
Delphi Automotive plc		41,177		2,843,683
Ford Motor Co.		583,227		9,588,252
General Motors Co.		191,760		6,631,061
Harley-Davidson, Inc.		32,613		2,323,350
Johnson Controls, Inc.		100,205		4,845,914
Lear Corp.		11,727		1,032,562
Tesla Motors, Inc. *		11,965		2,485,968
TRW Automotive Holdings Corp. *		16,579		1,407,060
				35,317,001
Banks 5.6%
Bank of America Corp.		1,561,600		23,642,624
BB&T Corp.		103,192		3,913,041
BOK Financial Corp.		2,752		172,771
CIT Group, Inc.		29,846		1,327,550
Citigroup, Inc.		449,369		21,376,483
Comerica, Inc.		26,697		1,280,655
Cullen/Frost Bankers, Inc.		7,559		565,867
Fifth Third Bancorp		124,678		2,579,588
First Republic Bank		17,802		905,410
Hudson City Bancorp, Inc.		66,663		651,298
Huntington Bancshares, Inc.		119,424		1,107,060
JPMorgan Chase & Co.		559,278		31,079,078
KeyCorp		133,008		1,820,880
M&T Bank Corp.		19,779		2,400,577
New York Community Bancorp, Inc.		64,040		978,531
Ocwen Financial Corp. *		16,902		592,753
People’s United Financial, Inc.		45,992		660,905
Regions Financial Corp.		212,473		2,165,100
SunTrust Banks, Inc.		79,845		3,059,660
The PNC Financial Services Group, Inc.		79,801		6,804,631
U.S. Bancorp		268,415		11,324,429
Wells Fargo & Co.		705,981		35,849,715
Zions Bancorp		28,169		805,352
				155,063,958
Capital Goods 8.0%
3M Co.		92,992		13,256,010
AGCO Corp.		12,958		699,214
AMETEK, Inc.		35,861		1,903,502
B/E Aerospace, Inc. *		14,063		1,360,595
Carlisle Cos., Inc.		8,913		756,357
Caterpillar, Inc.		94,326		9,642,947
Chicago Bridge & Iron Co. N.V.		16,696		1,359,054
Colfax Corp. *		13,901		1,011,854
Cummins, Inc.		25,526		3,903,691
Danaher Corp.		88,883		6,971,094
Deere & Co.		54,375		4,957,369
Donaldson Co., Inc.		19,580		797,493
Dover Corp.		24,684		2,151,951
Eaton Corp. plc		70,383		5,186,523
Emerson Electric Co.		104,208		6,953,800
Fastenal Co.		40,034		1,951,657
Flowserve Corp.		20,066		1,479,667
Fluor Corp.		24,162		1,814,083
Fortune Brands Home & Security, Inc.		24,623		984,428
General Dynamics Corp.		47,796		5,645,663
General Electric Co.		1,480,699		39,667,926
Honeywell International, Inc.		116,063		10,811,268
Hubbell, Inc., Class B		7,805		913,185
IDEX Corp.		11,538		884,734
Illinois Tool Works, Inc.		57,415		4,969,268
Ingersoll-Rand plc		39,290		2,350,328
Jacobs Engineering Group, Inc. *		19,527		1,075,352
Joy Global, Inc.		15,678		895,998
KBR, Inc.		21,708		527,287
L-3 Communications Holdings, Inc.		12,762		1,546,372
Lincoln Electric Holdings, Inc.		12,060		792,221
Lockheed Martin Corp.		39,934		6,535,199
Masco Corp.		53,072		1,130,434
MSC Industrial Direct Co., Inc., Class A		6,920		636,432
Nordson Corp.		8,727		711,600
Northrop Grumman Corp.		32,284		3,924,120
Oshkosh Corp.		12,451		672,977
Owens Corning		15,315		628,068
PACCAR, Inc.		51,858		3,285,723
Pall Corp.		16,304		1,381,601
Parker Hannifin Corp.		21,750		2,723,752
Pentair Ltd. - Reg’d		29,055		2,168,665
Precision Castparts Corp.		21,748		5,501,809
Quanta Services, Inc. *		31,949		1,084,669
Raytheon Co.		46,607		4,547,445

1

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Rockwell Automation, Inc.		21,103		2,555,151
Rockwell Collins, Inc.		19,622		1,550,923
Roper Industries, Inc.		14,472		2,050,393
Sensata Technologies Holding N.V. *		24,339		1,043,900
Snap-on, Inc.		8,448		990,697
SPX Corp.		6,483		678,381
Stanley Black & Decker, Inc.		23,198		2,027,505
Textron, Inc.		41,074		1,610,922
The Boeing Co.		100,677		13,616,564
The Timken Co.		11,238		721,704
TransDigm Group, Inc.		7,456		1,407,022
United Rentals, Inc. *		13,432		1,357,304
United Technologies Corp.		124,392		14,456,838
Valmont Industries, Inc.		3,839		594,853
W.W. Grainger, Inc.		8,896		2,298,460
WABCO Holdings, Inc. *		8,888		948,972
Wabtec Corp.		14,173		1,115,982
Xylem, Inc.		26,640		993,672
				222,172,628
Commercial & Professional Services 0.8%
Cintas Corp.		14,856		922,855
Copart, Inc. *		16,459		585,447
Equifax, Inc.		17,762		1,257,372
IHS, Inc., Class A *		8,881		1,118,207
Iron Mountain, Inc.		23,356		727,306
Manpowergroup, Inc.		11,252		922,439
Nielsen N.V.		36,946		1,783,014
Republic Services, Inc.		39,416		1,395,326
Robert Half International, Inc.		19,002		866,301
Rollins, Inc.		11,221		344,148
Stericycle, Inc. *		12,648		1,446,552
The ADT Corp.		29,152		938,694
The Dun & Bradstreet Corp.		6,101		629,928
Towers Watson & Co., Class A		9,178		1,032,617
Tyco International Ltd.		67,536		2,947,271
Verisk Analytics, Inc., Class A *		21,843		1,292,887
Waste Connections, Inc.		19,622		894,174
Waste Management, Inc.		63,453		2,835,080
				21,939,618
Consumer Durables & Apparel 1.4%
Carter’s, Inc.		8,600		620,318
Coach, Inc.		41,115		1,673,792
D.R. Horton, Inc.		40,415		957,027
Fossil Group, Inc. *		6,852		717,815
Garmin Ltd.		17,785		1,047,714
Hanesbrands, Inc.		14,792		1,254,805
Hasbro, Inc.		16,884		906,671
Jarden Corp. *		19,375		1,096,237
Leggett & Platt, Inc.		20,502		695,428
Lennar Corp., Class A		28,326		1,158,533
Lululemon Athletica, Inc. *		15,154		676,323
Mattel, Inc.		50,955		1,978,583
Michael Kors Holdings Ltd. *		26,062		2,459,732
Mohawk Industries, Inc. *		8,791		1,192,587
Newell Rubbermaid, Inc.		42,879		1,255,497
NIKE, Inc., Class B		109,601		8,429,413
NVR, Inc. *		584		650,366
Polaris Industries, Inc.		10,041		1,294,486
PulteGroup, Inc.		51,944		1,016,025
PVH Corp.		12,131		1,596,804
Ralph Lauren Corp.		8,667		1,330,211
Toll Brothers, Inc. *		22,377		810,495
Tupperware Brands Corp.		6,874		575,491
Under Armour, Inc., Class A *		22,524		1,143,994
VF Corp.		51,084		3,219,314
Whirlpool Corp.		11,424		1,639,915
				39,397,576
Consumer Services 2.0%
Aramark		5,368		141,608
Burger King Worldwide, Inc.		7,719		198,301
Carnival Corp.		63,600		2,545,908
Chipotle Mexican Grill, Inc. *		4,713		2,578,435
Darden Restaurants, Inc.		18,542		929,325
Dunkin’ Brands Group, Inc.		15,275		683,709
Extended Stay America, Inc.		11,378		251,454
H&R Block, Inc.		39,208		1,167,614
Hilton Worldwide Holdings, Inc. *		17,267		390,579
Hyatt Hotels Corp., Class A *		8,861		541,939
International Game Technology		37,896		475,595
Las Vegas Sands Corp.		56,342		4,311,290
Marriott International, Inc., Class A		33,064		2,037,404
McDonald’s Corp.		145,938		14,802,491
MGM Resorts International *		48,545		1,250,034
Norwegian Cruise Line Holdings Ltd. *		14,301		482,659
Panera Bread Co., Class A *		4,094		628,879
Penn National Gaming, Inc. *		9,833		114,653
Royal Caribbean Cruises Ltd.		23,540		1,301,527
Starbucks Corp.		111,577		8,171,899
Starwood Hotels & Resorts Worldwide, Inc.		28,192		2,251,131
Wyndham Worldwide Corp.		19,392		1,433,651
Wynn Resorts Ltd.		11,756		2,527,187
Yum! Brands, Inc.		65,161		5,037,597
				54,254,869
Diversified Financials 4.7%
Affiliated Managers Group, Inc. *		7,711		1,454,295
American Express Co.		135,165		12,367,598
Ameriprise Financial, Inc.		28,568		3,217,042
Berkshire Hathaway, Inc., Class B *		265,879		34,122,911
BlackRock, Inc.		18,364		5,599,184
Capital One Financial Corp.		85,275		6,727,345
CME Group, Inc.		45,875		3,303,000
Discover Financial Services		70,493		4,168,251
Eaton Vance Corp.		18,154		674,421
Franklin Resources, Inc.		59,120		3,264,015
IntercontinentalExchange Group, Inc.		17,208		3,379,651
Invesco Ltd.		63,576		2,333,239
Legg Mason, Inc.		14,768		721,269
Leucadia National Corp.		45,496		1,166,972
LPL Financial Holdings, Inc.		11,586		543,383
McGraw Hill Financial, Inc.		39,819		3,256,000
Moody’s Corp.		27,104		2,318,476
Morgan Stanley		207,265		6,396,198

2 

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
MSCI, Inc. *		18,606		803,035
Navient Corp. *		63,311		1,000,314
Northern Trust Corp.		32,870		1,985,348
Raymond James Financial, Inc.		17,718		857,551
Santander Consumer USA Holdings, Inc.		11,165		219,392
SEI Investments Co.		21,176		697,326
SLM Corp.		63,311		545,108
State Street Corp.		63,164		4,122,714
T. Rowe Price Group, Inc.		38,942		3,174,941
TD Ameritrade Holding Corp.		34,370		1,042,786
The Bank of New York Mellon Corp.		167,634		5,793,431
The Charles Schwab Corp. (b)		173,762		4,380,540
The Goldman Sachs Group, Inc.		62,385		9,969,747
The NASDAQ OMX Group, Inc.		18,818		713,202
Voya Financial, Inc.		20,299		726,704
				131,045,389
Energy 10.2%
Anadarko Petroleum Corp.		74,270		7,639,412
Antero Resources Corp. *		5,257		323,306
Apache Corp.		58,720		5,473,878
Baker Hughes, Inc.		64,223		4,529,006
Cabot Oil & Gas Corp.		62,753		2,274,169
Cameron International Corp. *		34,502		2,206,403
Cheniere Energy, Inc. *		32,185		2,192,120
Chesapeake Energy Corp.		73,201		2,102,333
Chevron Corp.		281,585		34,575,822
Cimarex Energy Co.		12,503		1,614,512
Cobalt International Energy, Inc. *		42,997		795,015
Concho Resources, Inc. *		16,316		2,150,449
ConocoPhillips		180,181		14,403,669
CONSOL Energy, Inc.		32,651		1,442,195
Continental Resources, Inc. *		6,194		869,390
Core Laboratories N.V.		6,464		1,033,270
CVR Energy, Inc. (a)		5,025		236,477
Denbury Resources, Inc.		53,589		905,118
Devon Energy Corp.		55,911		4,131,823
Diamond Offshore Drilling, Inc. (a)		9,948		507,945
Dresser-Rand Group, Inc. *		10,972		671,486
Ensco plc, Class A		33,792		1,779,487
EOG Resources, Inc.		80,074		8,471,829
EQT Corp.		21,708		2,320,151
Exxon Mobil Corp.		637,837		64,121,754
FMC Technologies, Inc. *		34,974		2,030,590
Halliburton Co.		125,987		8,143,800
Helmerich & Payne, Inc.		15,304		1,682,675
Hess Corp.		40,255		3,675,281
HollyFrontier Corp.		30,557		1,504,932
Kinder Morgan, Inc.		98,170		3,277,896
Marathon Oil Corp.		102,969		3,774,844
Marathon Petroleum Corp.		44,006		3,933,696
Murphy Oil Corp.		25,584		1,577,765
Nabors Industries Ltd.		37,808		991,704
National Oilwell Varco, Inc.		63,421		5,192,277
Noble Corp. plc		36,464		1,147,157
Noble Energy, Inc.		54,100		3,898,987
Oasis Petroleum, Inc. *		13,743		680,279
Occidental Petroleum Corp.		116,759		11,639,705
Oceaneering International, Inc.		15,679		1,129,672
Oil States International, Inc. *		7,868		846,439
ONEOK, Inc.		30,468		1,964,881
Peabody Energy Corp.		39,872		644,332
Phillips 66		86,334		7,320,260
Pioneer Natural Resources Co.		20,853		4,382,466
QEP Resources, Inc.		25,427		812,138
Range Resources Corp.		24,120		2,241,954
Rowan Cos. plc, Class A		19,466		602,667
Schlumberger Ltd.		194,075		20,191,563
SM Energy Co.		9,648		731,415
Southwestern Energy Co. *		53,314		2,424,188
Spectra Energy Corp.		100,767		4,089,125
Superior Energy Services, Inc.		22,914		760,516
Tesoro Corp.		20,979		1,179,020
The Williams Cos., Inc.		102,451		4,811,099
Transocean Ltd. (a)		49,476		2,102,235
Valero Energy Corp.		78,857		4,419,935
Weatherford International Ltd. *		112,941		2,449,690
Whiting Petroleum Corp. *		17,062		1,225,905
				284,252,107
Food & Staples Retailing 2.1%
Costco Wholesale Corp.		64,679		7,504,057
CVS Caremark Corp.		174,559		13,671,461
Safeway, Inc.		33,237		1,141,359
Sprouts Farmers Market, Inc. *		13,531		366,690
Sysco Corp.		87,236		3,273,967
The Kroger Co.		75,107		3,585,608
Wal-Mart Stores, Inc.		238,906		18,340,814
Walgreen Co.		129,061		9,280,776
Whole Foods Market, Inc.		54,361		2,078,765
				59,243,497
Food, Beverage & Tobacco 5.0%
Altria Group, Inc.		295,129		12,265,561
Archer-Daniels-Midland Co.		97,010		4,359,629
Brown-Forman Corp., Class B		23,539		2,181,359
Bunge Ltd.		21,396		1,662,683
Campbell Soup Co.		25,753		1,182,063
Coca-Cola Enterprises, Inc.		36,283		1,655,956
ConAgra Foods, Inc.		61,918		1,999,951
Constellation Brands, Inc., Class A *		24,192		2,035,273
Dr. Pepper Snapple Group, Inc.		29,158		1,682,417
Flowers Foods, Inc.		27,017		563,304
General Mills, Inc.		93,096		5,113,763
Hormel Foods Corp.		20,516		1,009,592
Ingredion, Inc.		11,539		878,695
Kellogg Co.		37,744		2,603,581
Keurig Green Mountain, Inc.		18,906		2,132,219
Kraft Foods Group, Inc.		87,376		5,195,377
Lorillard, Inc.		54,532		3,390,254
McCormick & Co., Inc. Non-Voting Shares		19,296		1,395,294
Mead Johnson Nutrition Co.		29,290		2,620,576
Molson Coors Brewing Co., Class B		22,914		1,506,137
Mondelez International, Inc., Class A		250,025		9,405,941
Monster Beverage Corp. *		19,688		1,365,953
PepsiCo, Inc.		225,211		19,892,888
Philip Morris International, Inc.		234,694		20,779,807
Reynolds American, Inc.		46,207		2,755,323
The Coca-Cola Co.		558,186		22,835,389

3

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
The Hershey Co.		21,869		2,128,729
The Hillshire Brands Co.		18,521		986,799
The J.M. Smucker Co.		15,151		1,554,493
Tyson Foods, Inc., Class A		39,401		1,672,967
				138,811,973
Health Care Equipment & Services 4.4%
Abbott Laboratories		229,538		9,183,815
Aetna, Inc.		54,329		4,213,214
AmerisourceBergen Corp.		33,211		2,430,381
Baxter International, Inc.		79,311		5,901,531
Becton Dickinson & Co.		28,351		3,336,913
Boston Scientific Corp. *		193,558		2,483,349
C.R. Bard, Inc.		11,442		1,692,386
Cardinal Health, Inc.		51,290		3,622,613
CareFusion Corp. *		30,960		1,329,113
Cerner Corp. *		43,511		2,351,770
Cigna Corp.		41,264		3,704,682
Community Health Systems, Inc. *		17,717		740,039
Covidien plc		66,988		4,897,493
DaVita HealthCare Partners, Inc. *		25,665		1,811,692
DENTSPLY International, Inc.		21,728		1,027,517
Edwards Lifesciences Corp. *		16,049		1,303,179
Envision Healthcare Holdings, Inc. *		10,074		347,352
Express Scripts Holding Co. *		114,775		8,202,969
HCA Holdings, Inc. *		47,138		2,497,843
Henry Schein, Inc. *		12,486		1,493,950
Hologic, Inc. *		41,092		1,004,288
Humana, Inc.		22,341		2,780,561
IDEXX Laboratories, Inc. *		7,526		966,940
Intuitive Surgical, Inc. *		5,575		2,061,300
Laboratory Corp. of America Holdings *		12,869		1,320,102
McKesson Corp.		34,034		6,454,208
MEDNAX, Inc. *		15,312		882,431
Medtronic, Inc.		147,711		9,014,802
Omnicare, Inc.		14,965		951,026
Patterson Cos., Inc.		12,737		498,781
Premier, Inc., Class A *		4,130		122,413
Quest Diagnostics, Inc.		21,998		1,317,460
ResMed, Inc. (a)		20,154		1,008,909
Sirona Dental Systems, Inc. *		8,728		656,520
St. Jude Medical, Inc.		42,219		2,740,013
Stryker Corp.		42,874		3,622,424
Tenet Healthcare Corp. *		16,249		763,703
The Cooper Cos., Inc.		6,891		889,077
UnitedHealth Group, Inc.		145,614		11,595,243
Universal Health Services, Inc., Class B		12,443		1,114,520
Varian Medical Systems, Inc. *		15,720		1,296,114
Veeva Systems, Inc., Class A *		1,854		38,860
WellPoint, Inc.		41,432		4,489,572
Zimmer Holdings, Inc.		24,950		2,603,532
				120,764,600
Household & Personal Products 2.0%
Avon Products, Inc.		64,564		922,620
Church & Dwight Co., Inc.		19,822		1,372,277
Colgate-Palmolive Co.		129,148		8,833,723
Coty, Inc., Class A		7,986		133,207
Energizer Holdings, Inc.		9,138		1,060,008
Herbalife Ltd. (a)		12,286		796,501
Kimberly-Clark Corp.		56,794		6,380,806
The Clorox Co.		18,546		1,662,093
The Estee Lauder Cos., Inc., Class A		37,070		2,840,303
The Procter & Gamble Co.		400,217		32,333,531
				56,335,069
Insurance 3.1%
ACE Ltd.		49,880		5,173,055
Aflac, Inc.		66,392		4,065,182
Alleghany Corp. *		2,511		1,057,432
American Financial Group, Inc.		10,071		587,945
American International Group, Inc.		216,316		11,696,206
Aon plc		44,138		3,969,772
Arch Capital Group Ltd. *		17,091		972,991
Arthur J. Gallagher & Co.		22,458		1,029,250
Axis Capital Holdings Ltd.		14,632		672,926
Brown & Brown, Inc.		18,427		556,311
Cincinnati Financial Corp.		23,097		1,132,215
CNA Financial Corp.		4,996		200,739
Erie Indemnity Co., Class A		3,687		279,217
Everest Re Group Ltd.		6,839		1,094,377
Fidelity National Financial, Inc., Class A		40,191		1,339,968
Genworth Financial, Inc., Class A *		70,992		1,206,154
HCC Insurance Holdings, Inc.		15,206		714,378
Lincoln National Corp.		37,667		1,806,509
Loews Corp.		43,984		1,897,030
Markel Corp. *		2,169		1,388,637
Marsh & McLennan Cos., Inc.		81,109		4,077,349
MetLife, Inc.		166,044		8,456,621
PartnerRe Ltd.		6,771		727,002
Principal Financial Group, Inc.		40,262		1,883,054
Prudential Financial, Inc.		68,253		5,607,666
Reinsurance Group of America, Inc.		9,980		780,037
RenaissanceRe Holdings Ltd.		6,606		688,147
The Allstate Corp.		67,303		3,921,073
The Chubb Corp.		35,606		3,299,252
The Hartford Financial Services Group, Inc.		66,458		2,302,770
The Progressive Corp.		82,205		2,057,591
The Travelers Cos., Inc.		52,002		4,859,587
Torchmark Corp.		12,723		1,029,672
Unum Group		37,126		1,258,943
Validus Holdings Ltd.		14,242		531,654
W.R. Berkley Corp.		15,962		711,426
White Mountains Insurance Group Ltd.		891		526,153
Willis Group Holdings plc		26,058		1,092,873
XL Group plc		41,648		1,351,894
				86,003,058
Materials 3.7%
Air Products & Chemicals, Inc.		30,888		3,705,633
Airgas, Inc.		9,281		986,756
Albemarle Corp.		11,651		806,133
Alcoa, Inc.		172,306		2,345,085
Ashland, Inc.		10,313		1,062,239
Avery Dennison Corp.		14,026		711,118

4 

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Ball Corp.		20,951		1,264,602
Bemis Co., Inc.		15,678		649,226
Celanese Corp., Series A		22,924		1,437,335
CF Industries Holdings, Inc.		8,107		1,972,514
Crown Holdings, Inc. *		20,522		1,002,500
E.I. du Pont de Nemours & Co.		137,148		9,505,728
Eastman Chemical Co.		23,206		2,048,162
Ecolab, Inc.		40,183		4,387,582
FMC Corp.		19,675		1,506,318
Freeport-McMoRan Copper & Gold, Inc.		152,369		5,188,164
Huntsman Corp.		27,808		742,196
International Flavors & Fragrances, Inc.		12,060		1,197,076
International Paper Co.		65,313		3,110,858
LyondellBasell Industries N.V., Class A		63,748		6,347,388
Martin Marietta Materials, Inc.		6,737		827,304
MeadWestvaco Corp.		25,480		1,033,978
Monsanto Co.		77,822		9,482,611
Newmont Mining Corp.		76,791		1,757,746
Nucor Corp.		47,610		2,410,494
Owens-Illinois, Inc. *		25,706		854,210
Packaging Corp. of America		13,873		959,457
PPG Industries, Inc.		20,300		4,092,683
Praxair, Inc.		43,953		5,812,345
Reliance Steel & Aluminum Co.		11,399		820,158
Rock-Tenn Co., Class A		10,234		1,033,941
Rockwood Holdings, Inc.		11,112		848,623
Royal Gold, Inc.		8,884		557,205
RPM International, Inc.		18,787		809,156
Sealed Air Corp.		28,979		954,279
Sigma-Aldrich Corp.		17,198		1,694,519
The Dow Chemical Co.		178,634		9,310,404
The Mosaic Co.		49,656		2,482,303
The Sherwin-Williams Co.		12,587		2,575,426
The Valspar Corp.		12,102		903,535
Valhi, Inc.		2,748		15,774
Vulcan Materials Co.		18,452		1,125,018
W.R. Grace & Co. *		11,111		1,023,101
Westlake Chemical Corp.		6,164		498,359
				101,859,242
Media 3.8%
AMC Networks, Inc., Class A *		9,154		566,449
Cablevision Systems Corp., Class A		33,474		590,147
CBS Corp., Class B Non-Voting Shares		82,116		4,894,935
Charter Communications, Inc., Class A *		9,799		1,402,629
Comcast Corp., Class A		384,479		20,069,804
DIRECTV *		70,011		5,771,707
Discovery Communications, Inc., Class A *		32,797		2,524,057
DISH Network Corp., Class A *		30,554		1,792,298
Gannett Co., Inc.		34,421		956,560
Lamar Advertising Co., Class A		9,269		457,332
Liberty Global plc, Class A *		51,878		2,335,548
Liberty Global plc, Series C *		57,548		2,463,054
Liberty Media Corp., Class A *		14,878		1,891,440
News Corp., Class A *		72,547		1,237,652
Omnicom Group, Inc.		37,789		2,688,687
Scripps Networks Interactive, Inc., Class A		15,900		1,215,714
Sirius XM Holdings, Inc. *		441,491		1,448,090
The Interpublic Group of Cos., Inc.		61,553		1,176,893
The Madison Square Garden Co., Class A *		8,539		468,364
The Walt Disney Co.		239,811		20,146,522
Time Warner Cable, Inc.		41,151		5,808,875
Time Warner, Inc.		131,331		9,170,844
Twenty-First Century Fox, Inc., Class A		287,821		10,191,742
Viacom, Inc., Class B		58,088		4,956,649
				104,225,992
Pharmaceuticals, Biotechnology & Life Sciences 8.6%
AbbVie, Inc.		233,998		12,713,111
Actavis plc *		25,539		5,402,520
Agilent Technologies, Inc.		50,500		2,875,470
Alexion Pharmaceuticals, Inc. *		29,150		4,848,228
Allergan, Inc.		44,112		7,386,996
Amgen, Inc.		111,059		12,881,733
Biogen Idec, Inc. *		35,100		11,209,887
BioMarin Pharmaceutical, Inc. *		20,919		1,212,465
Bristol-Myers Squibb Co.		242,645		12,069,162
Celgene Corp. *		59,815		9,153,489
Covance, Inc. *		8,442		707,946
Eli Lilly & Co.		146,839		8,789,783
Endo International plc *		19,933		1,407,071
Forest Laboratories, Inc. *		35,287		3,344,502
Gilead Sciences, Inc. *		226,993		18,434,102
Hospira, Inc. *		25,389		1,248,377
Illumina, Inc. *		18,754		2,967,821
Incyte Corp., Ltd. *		22,439		1,111,852
Johnson & Johnson		417,354		42,344,737
Medivation, Inc. *		12,036		876,582
Merck & Co., Inc.		434,472		25,138,550
Mettler-Toledo International, Inc. *		4,228		1,035,945
Mylan, Inc. *		55,591		2,770,655
PerkinElmer, Inc.		16,888		759,453
Perrigo Co., plc		19,500		2,694,900
Pfizer, Inc.		942,052		27,913,001
Pharmacyclics, Inc. *		9,698		861,473
Quintiles Transnational Holdings, Inc. *		7,594		387,142
Regeneron Pharmaceuticals, Inc. *		11,473		3,521,752
Seattle Genetics, Inc. *		16,070		536,256
Thermo Fisher Scientific, Inc.		58,013		6,782,300
Vertex Pharmaceuticals, Inc. *		35,704		2,579,971
Waters Corp. *		12,411		1,243,086
Zoetis, Inc.		72,483		2,225,228
				239,435,546
Real Estate 2.8%
Alexandria Real Estate Equities, Inc.		10,254		780,227
American Campus Communities, Inc.		14,852		576,852
American Capital Agency Corp.		56,978		1,352,088
American Tower Corp.		57,888		5,188,501
Annaly Capital Management, Inc.		137,937		1,626,277

5

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Apartment Investment & Management Co., Class A		20,936		659,065
AvalonBay Communities, Inc.		18,477		2,620,778
Boston Properties, Inc.		22,287		2,689,595
Brixmor Property Group, Inc.		9,668		210,279
Camden Property Trust		12,060		847,094
CBRE Group, Inc., Class A *		40,341		1,203,775
Corrections Corp. of America		16,053		522,204
DDR Corp.		45,251		783,295
Digital Realty Trust, Inc. (a)		20,685		1,189,388
Duke Realty Corp.		46,432		821,846
Equity Residential		48,772		3,014,110
Essex Property Trust, Inc.		9,003		1,629,183
Extra Space Storage, Inc.		15,966		835,820
Federal Realty Investment Trust		9,648		1,153,129
General Growth Properties, Inc.		80,838		1,926,370
HCP, Inc.		66,800		2,788,900
Health Care REIT, Inc.		44,314		2,801,974
Host Hotels & Resorts, Inc.		115,436		2,547,673
Jones Lang LaSalle, Inc.		6,220		754,424
Kilroy Realty Corp.		11,689		708,120
Kimco Realty Corp.		59,137		1,355,420
Liberty Property Trust		20,772		804,084
National Retail Properties, Inc.		18,229		637,650
Plum Creek Timber Co., Inc.		26,799		1,208,635
Prologis, Inc.		72,216		2,997,686
Public Storage		21,287		3,669,453
Rayonier, Inc.		18,090		861,084
Realogy Holdings Corp. *		21,126		785,465
Realty Income Corp.		33,366		1,444,748
Regency Centers Corp.		13,266		708,404
Senior Housing Properties Trust		32,280		774,074
Simon Property Group, Inc.		46,887		7,804,810
SL Green Realty Corp.		13,926		1,524,758
Taubman Centers, Inc.		8,956		670,804
The Macerich Co.		20,631		1,362,471
UDR, Inc.		36,354		1,000,462
Ventas, Inc.		42,526		2,840,737
Vornado Realty Trust		25,381		2,717,798
Washington Prime Group, Inc. *		23,443		466,291
Weingarten Realty Investors		16,034		509,721
Weyerhaeuser Co.		85,095		2,673,685
WP Carey, Inc.		7,875		501,165
				76,550,372
Retailing 4.1%
Abercrombie & Fitch Co., Class A		10,465		397,775
Advance Auto Parts, Inc.		10,871		1,349,852
Amazon.com, Inc. *		55,147		17,236,195
AutoNation, Inc. *		9,163		523,849
AutoZone, Inc. *		4,880		2,598,600
Bed Bath & Beyond, Inc. *		32,273		1,963,812
Best Buy Co., Inc.		39,969		1,105,543
CarMax, Inc. *		33,017		1,462,983
Dick’s Sporting Goods, Inc.		14,757		655,949
Dillard’s, Inc., Class A		3,223		363,393
Dollar General Corp. *		42,885		2,306,355
Dollar Tree, Inc. *		31,494		1,670,127
Expedia, Inc.		15,681		1,149,417
Family Dollar Stores, Inc.		13,650		799,890
Foot Locker, Inc.		21,160		1,019,489
GameStop Corp., Class A		16,986		642,920
Genuine Parts Co.		22,186		1,915,317
Groupon, Inc. *		53,982		317,414
Kohl’s Corp.		29,281		1,594,058
L Brands, Inc.		35,426		2,033,098
Lands’ End, Inc. *(a)		7,739		214,835
Liberty Interactive Corp., Class A *		70,525		2,054,393
LKQ Corp. *		43,416		1,204,360
Lowe’s Cos., Inc.		153,510		7,227,251
Macy’s, Inc.		54,679		3,274,725
Netflix, Inc. *		8,840		3,693,617
Nordstrom, Inc.		21,185		1,441,851
O’Reilly Automotive, Inc. *		15,813		2,339,533
PetSmart, Inc.		14,869		854,521
Ross Stores, Inc.		31,581		2,161,720
Sally Beauty Holdings, Inc. *		22,234		569,635
Sears Holdings Corp. *(a)		6,289		264,484
Signet Jewelers Ltd.		12,093		1,282,946
Staples, Inc.		94,591		1,064,149
Target Corp.		94,109		5,341,627
The Gap, Inc.		40,173		1,656,333
The Home Depot, Inc.		208,109		16,696,585
The Priceline Group, Inc. *		7,738		9,894,039
Tiffany & Co.		15,982		1,588,771
TJX Cos., Inc.		104,751		5,703,692
Tractor Supply Co.		20,667		1,343,768
TripAdvisor, Inc. *		16,401		1,593,685
Ulta Salon, Cosmetics & Fragrance, Inc. *		9,111		773,524
Urban Outfitters, Inc. *		15,765		528,443
Williams-Sonoma, Inc.		13,309		890,638
				114,765,161
Semiconductors & Semiconductor Equipment 2.1%
Altera Corp.		47,136		1,561,616
Analog Devices, Inc.		47,187		2,471,655
Applied Materials, Inc.		181,585		3,666,201
Avago Technologies Ltd.		35,878		2,535,498
Broadcom Corp., Class A		80,872		2,577,391
Cree, Inc. *		18,499		890,172
Freescale Semiconductor Ltd. *		14,144		313,855
Intel Corp.		732,093		20,000,781
KLA-Tencor Corp.		24,157		1,582,767
Lam Research Corp. *		24,233		1,503,415
Linear Technology Corp.		35,875		1,655,990
Marvell Technology Group Ltd.		61,094		951,233
Maxim Integrated Products, Inc.		42,534		1,456,789
Microchip Technology, Inc.		29,236		1,391,634
Micron Technology, Inc. *		156,359		4,470,304
NVIDIA Corp.		82,107		1,560,033
Skyworks Solutions, Inc.		28,944		1,253,565
Texas Instruments, Inc.		160,854		7,556,921
Xilinx, Inc.		38,636		1,814,346
				59,214,166
Software & Services 10.0%
Accenture plc, Class A		94,102		7,664,608
Activision Blizzard, Inc.		68,814		1,429,955
Adobe Systems, Inc. *		68,071		4,393,302
Akamai Technologies, Inc. *		25,479		1,384,529

6 

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Alliance Data Systems Corp. *		7,781		1,992,325
Amdocs Ltd.		23,282		1,120,330
ANSYS, Inc. *		13,276		975,122
Autodesk, Inc. *		32,562		1,705,272
Automatic Data Processing, Inc.		71,832		5,723,574
Blackhawk Network Holdings, Inc., Class B *		5,442		133,492
CA, Inc.		47,713		1,368,886
Cadence Design Systems, Inc. *		41,025		684,707
Citrix Systems, Inc. *		26,920		1,668,232
Cognizant Technology Solutions Corp., Class A *		88,734		4,313,360
Computer Sciences Corp.		21,166		1,331,130
Concur Technologies, Inc. *		6,681		570,357
eBay, Inc. *		172,649		8,758,484
Electronic Arts, Inc. *		43,996		1,545,579
Equinix, Inc. *		7,236		1,438,155
Facebook, Inc., Class A *		252,933		16,010,659
FactSet Research Systems, Inc.		6,100		653,554
Fidelity National Information Services, Inc.		42,566		2,304,949
FireEye, Inc. *(a)		4,389		144,266
Fiserv, Inc. *		37,720		2,267,349
FleetCor Technologies, Inc. *		10,407		1,315,549
Gartner, Inc. *		13,404		952,890
Genpact Ltd. *		24,040		405,074
Global Payments, Inc.		11,234		770,203
Google, Inc., Class A *		41,761		23,872,676
Google, Inc., Class C *		41,761		23,427,086
IAC/InterActiveCorp		11,254		745,127
Informatica Corp. *		16,987		621,554
International Business Machines Corp.		144,575		26,653,847
Intuit, Inc.		41,444		3,286,095
Jack Henry & Associates, Inc.		12,348		716,060
Leidos Holdings, Inc.		10,151		387,261
LinkedIn Corp., Class A *		14,943		2,392,225
MasterCard, Inc., Class A		150,268		11,487,988
MICROS Systems, Inc. *		11,276		602,364
Microsoft Corp.		1,114,224		45,616,330
NetSuite, Inc. *		4,228		340,312
Nuance Communications, Inc. *		37,460		606,290
Oracle Corp.		512,426		21,532,140
Paychex, Inc.		47,034		1,933,568
Rackspace Hosting, Inc. *		16,481		601,392
Red Hat, Inc. *		27,780		1,392,334
Salesforce.com, Inc. *		84,145		4,428,551
ServiceNow, Inc. *		14,525		759,803
Solera Holdings, Inc.		9,695		632,599
Symantec Corp.		102,536		2,254,767
Synopsys, Inc. *		23,106		889,350
Teradata Corp. *		23,612		991,468
The Western Union Co.		81,180		1,312,681
TIBCO Software, Inc. *		21,892		470,897
Total System Services, Inc.		24,866		752,445
Twitter, Inc. *		13,072		424,056
Vantiv, Inc., Class A *		20,784		644,096
VeriSign, Inc. *		19,624		982,770
Visa, Inc., Class A		74,659		16,038,993
VMware, Inc., Class A *		12,278		1,184,827
Workday, Inc., Class A *		4,329		339,264
Xerox Corp.		169,143		2,088,916
Yahoo! Inc. *		138,335		4,793,308
				278,229,332
Technology Hardware & Equipment 6.2%
3D Systems Corp. *(a)		13,435		680,483
Amphenol Corp., Class A		22,984		2,201,867
Apple, Inc.		131,630		83,321,790
Arrow Electronics, Inc. *		14,578		841,151
Avnet, Inc.		20,502		893,272
Cisco Systems, Inc.		761,701		18,753,079
Corning, Inc.		204,600		4,357,980
EMC Corp.		297,687		7,906,567
F5 Networks, Inc. *		11,096		1,204,471
FLIR Systems, Inc.		21,189		739,708
Harris Corp.		15,357		1,186,328
Hewlett-Packard Co.		281,344		9,425,024
Jabil Circuit, Inc.		27,738		522,029
Juniper Networks, Inc. *		73,584		1,799,865
Motorola Solutions, Inc.		34,388		2,318,439
National Instruments Corp.		13,605		389,647
NCR Corp. *		24,264		792,462
NetApp, Inc.		49,626		1,836,658
QUALCOMM, Inc.		249,513		20,073,321
SanDisk Corp.		33,995		3,284,937
Seagate Technology plc		47,453		2,549,650
TE Connectivity Ltd.		61,188		3,638,238
Trimble Navigation Ltd. *		37,106		1,338,413
Western Digital Corp.		30,785		2,704,462
				172,759,841
Telecommunication Services 2.6%
AT&T, Inc.		768,865		27,271,642
CenturyLink, Inc.		87,523		3,296,991
Crown Castle International Corp.		49,925		3,830,745
Frontier Communications Corp. (a)		137,616		796,797
Level 3 Communications, Inc. *		24,707		1,078,461
SBA Communications Corp., Class A *		19,649		1,994,373
Sprint Corp. *		122,022		1,165,310
T-Mobile US, Inc. *		37,031		1,271,274
tw telecom, Inc. *		20,082		658,489
Verizon Communications, Inc.		611,254		30,538,250
Windstream Holdings, Inc. (a)		90,489		865,980
				72,768,312
Transportation 2.1%
C.H. Robinson Worldwide, Inc.		23,180		1,387,555
CSX Corp.		147,769		4,344,409
Delta Air Lines, Inc.		125,968		5,027,383
Expeditors International of Washington, Inc.		30,546		1,390,148
FedEx Corp.		40,821		5,884,755
Genesee & Wyoming, Inc., Class A *		7,426		722,921
Hertz Global Holdings, Inc. *		65,667		1,938,490
J.B. Hunt Transport Services, Inc.		13,391		1,039,945
Kansas City Southern		15,839		1,703,009
Kirby Corp. *		8,569		947,303
Norfolk Southern Corp.		45,121		4,545,941
Southwest Airlines Co.		103,004		2,724,456

7

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Union Pacific Corp.		67,456		13,441,957
United Continental Holdings, Inc. *		54,752		2,429,346
United Parcel Service, Inc., Class B		104,736		10,879,976
				58,407,594
Utilities 3.2%
AES Corp.		96,127		1,355,391
AGL Resources, Inc.		17,809		950,644
Alliant Energy Corp.		16,937		987,427
Ameren Corp.		36,445		1,434,111
American Electric Power Co., Inc.		71,154		3,796,066
American Water Works Co., Inc.		25,839		1,256,034
Aqua America, Inc.		25,554		648,561
Calpine Corp. *		53,166		1,239,831
CenterPoint Energy, Inc.		64,126		1,546,719
CMS Energy Corp.		39,898		1,186,965
Consolidated Edison, Inc.		42,415		2,333,249
Dominion Resources, Inc.		86,336		5,953,731
DTE Energy Co.		26,302		2,002,108
Duke Energy Corp.		105,138		7,473,209
Edison International		48,462		2,672,195
Entergy Corp.		27,089		2,043,052
Exelon Corp.		125,686		4,629,015
FirstEnergy Corp.		60,684		2,052,333
Integrys Energy Group, Inc.		11,691		677,961
ITC Holdings Corp.		23,102		845,533
MDU Resources Group, Inc.		27,037		916,014
National Fuel Gas Co.		12,102		907,650
NextEra Energy, Inc.		64,359		6,265,992
NiSource, Inc.		46,552		1,739,648
Northeast Utilities		45,904		2,084,042
NRG Energy, Inc.		47,076		1,677,789
OGE Energy Corp.		28,968		1,063,995
Pepco Holdings, Inc.		36,235		1,003,709
PG&E Corp.		68,087		3,123,151
Pinnacle West Capital Corp.		15,888		880,513
PPL Corp.		92,122		3,232,561
Public Service Enterprise Group, Inc.		73,822		2,876,105
Questar Corp.		25,427		612,028
SCANA Corp.		21,029		1,093,508
Sempra Energy		33,217		3,333,326
TECO Energy, Inc.		28,991		500,675
The Southern Co.		133,116		5,827,818
UGI Corp.		18,484		899,616
Westar Energy, Inc.		18,174		655,173
Wisconsin Energy Corp.		33,724		1,535,116
Xcel Energy, Inc.		72,601		2,233,207
				87,545,771
Total Common Stock
(Cost $2,171,789,528)				2,770,362,672
Other Investment Companies 0.1% of net assets
Equity Fund 0.0%
iShares Russell 1000 ETF		7,000		753,480
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (c)		1,211,508		1,211,508
Total Other Investment Companies
(Cost $1,881,106)				1,964,988
End of Investments
Collateral Invested for Securities on Loan 0.1% of net assets
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (c)		3,058,607		3,058,607
Total Collateral Invested for Securities on Loan
(Cost $3,058,607)				3,058,607
End of Collateral Invested for Securities on Loan

At 05/31/14, the tax basis cost of the fund’s investments was $2,174,419,129 and the unrealized appreciation and depreciation were $610,787,900 and ($12,879,369), respectively, with a net unrealized appreciation of $597,908,531.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $3,641,381. Non-Cash Collateral received for securities on loan amounted to $691,820.
(b)	Issuer is affiliated with the fund’s adviser.
(c)	The rate shown is the 7-day yield.

ETF —	Exchange Traded Fund
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.

8 

 Schwab U.S. Large-Cap 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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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.

9

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

•  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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$2,770,362,672		$—		$—		$2,770,362,672
Other Investment Companies1		1,964,988		—		—		1,964,988
Total		$2,772,327,660		$—		$—		$2,772,327,660
Other Financial Instruments
Collateral Invested for Securities on Loan		$3,058,607		$—		$—		$3,058,607

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 May 31, 2014.

REG54092MAY14

10 

Schwab Strategic Trust
Schwab U.S. Large-Cap Growth ETF™

Portfolio Holdings as of May 31, 2014 (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		977,447,296		1,296,694,119
	0	.1%	Other Investment Companies		607,776		623,867
	99	.9%	Total Investments		978,055,072		1,297,317,986
	0	.2%	Collateral Invested for Securities on Loan		2,546,027		2,546,027
	(0	.1)%	Other Assets and Liabilities, Net				(984,991	)
	100	.0%	Net Assets				1,298,879,022

	Number		Value
Security	of Shares		($)
Common Stock 99.8% of net assets
Automobiles & Components 0.3%
BorgWarner, Inc.		31,455		1,978,205
Tesla Motors, Inc. *		11,427		2,374,188
				4,352,393
Banks 0.1%
CIT Group, Inc.		27,676		1,231,028
Ocwen Financial Corp. *		16,055		563,049
				1,794,077
Capital Goods 6.6%
AGCO Corp.		12,974		700,077
AMETEK, Inc.		33,622		1,784,656
B/E Aerospace, Inc. *		13,493		1,305,448
Caterpillar, Inc.		88,783		9,076,286
Chicago Bridge & Iron Co. N.V.		14,796		1,204,394
Colfax Corp. *		12,590		916,426
Cummins, Inc.		24,041		3,676,590
Danaher Corp.		83,538		6,551,885
Deere & Co.		51,378		4,684,132
Donaldson Co., Inc.		18,638		759,126
Dover Corp.		23,538		2,052,043
Fastenal Co.		37,688		1,837,290
Flowserve Corp.		19,192		1,415,218
Fluor Corp.		22,476		1,687,498
Fortune Brands Home & Security, Inc.		22,802		911,624
Illinois Tool Works, Inc.		53,976		4,671,623
Jacobs Engineering Group, Inc. *		18,117		997,703
Joy Global, Inc.		14,570		832,676
Lincoln Electric Holdings, Inc.		11,776		773,566
MSC Industrial Direct Co., Inc., Class A		6,629		609,669
Nordson Corp.		8,302		676,945
PACCAR, Inc.		48,797		3,091,778
Pall Corp.		15,404		1,305,335
Pentair Ltd. - Reg’d		27,446		2,048,570
Precision Castparts Corp.		20,341		5,145,866
Quanta Services, Inc. *		29,494		1,001,321
Roper Industries, Inc.		13,680		1,938,182
Sensata Technologies Holding N.V. *		20,287		870,109
SPX Corp.		6,195		648,245
Stanley Black & Decker, Inc.		21,966		1,919,828
The Boeing Co.		95,048		12,855,242
TransDigm Group, Inc.		6,762		1,276,057
United Rentals, Inc. *		12,809		1,294,350
Valmont Industries, Inc.		3,609		559,215
W.W. Grainger, Inc.		8,465		2,187,102
WABCO Holdings, Inc. *		8,374		894,092
Wabtec Corp.		13,249		1,043,226
				85,203,393
Commercial & Professional Services 0.8%
Copart, Inc. *		15,383		547,173
Equifax, Inc.		16,664		1,179,645
IHS, Inc., Class A *		8,453		1,064,317
Nielsen N.V.		34,785		1,678,724
Robert Half International, Inc.		19,151		873,094
Rollins, Inc.		8,803		269,988
Stericycle, Inc. *		11,774		1,346,592
The Dun & Bradstreet Corp.		5,479		565,707
Towers Watson & Co., Class A		8,852		995,939
Verisk Analytics, Inc., Class A *		20,583		1,218,308
Waste Connections, Inc.		16,948		772,320
				10,511,807
Consumer Durables & Apparel 2.1%
Carter’s, Inc.		8,066		581,801
Coach, Inc.		38,879		1,582,764
D.R. Horton, Inc.		39,116		926,267
Fossil Group, Inc. *		6,820		714,463
Jarden Corp. *		17,233		975,043
Lululemon Athletica, Inc. *		14,484		646,421
Michael Kors Holdings Ltd. *		24,641		2,325,618
Mohawk Industries, Inc. *		8,362		1,134,389
NIKE, Inc., Class B		103,209		7,937,804
NVR, Inc. *		583		649,252
Polaris Industries, Inc.		9,253		1,192,897
PulteGroup, Inc.		48,196		942,714
PVH Corp.		11,188		1,472,676
Ralph Lauren Corp.		8,325		1,277,721
Toll Brothers, Inc. *		22,610		818,934
Under Armour, Inc., Class A *		22,068		1,120,834
VF Corp.		49,429		3,115,015
				27,414,613

1

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Consumer Services 2.2%
Aramark		5,101		134,564
Burger King Worldwide, Inc.		8,402		215,848
Chipotle Mexican Grill, Inc. *		4,276		2,339,357
Dunkin’ Brands Group, Inc.		14,579		652,556
Extended Stay America, Inc.		3,753		82,941
Hilton Worldwide Holdings, Inc. *		16,381		370,538
Hyatt Hotels Corp., Class A *		7,789		476,375
Las Vegas Sands Corp.		53,391		4,085,479
Marriott International, Inc., Class A		31,728		1,955,079
Norwegian Cruise Line Holdings Ltd. *		12,786		431,528
Panera Bread Co., Class A *		3,858		592,628
Penn National Gaming, Inc. *		9,282		108,228
Starbucks Corp.		105,243		7,707,997
Starwood Hotels & Resorts Worldwide, Inc.		26,831		2,142,455
Wynn Resorts Ltd.		11,112		2,388,747
Yum! Brands, Inc.		61,493		4,754,024
				28,438,344
Diversified Financials 6.2%
Affiliated Managers Group, Inc. *		7,281		1,373,197
American Express Co.		127,245		11,642,917
Berkshire Hathaway, Inc., Class B *		250,388		32,134,796
BlackRock, Inc.		17,527		5,343,982
Discover Financial Services		65,260		3,858,824
Franklin Resources, Inc.		56,019		3,092,809
IntercontinentalExchange Group, Inc.		15,834		3,109,797
LPL Financial Holdings, Inc.		11,123		521,669
McGraw Hill Financial, Inc.		37,916		3,100,391
Moody’s Corp.		25,993		2,223,441
MSCI, Inc. *		16,630		717,751
Santander Consumer USA Holdings, Inc.		10,588		208,054
SEI Investments Co.		19,918		655,900
State Street Corp.		59,663		3,894,204
T. Rowe Price Group, Inc.		36,588		2,983,020
TD Ameritrade Holding Corp.		32,564		987,992
The Charles Schwab Corp. (b)		161,976		4,083,415
				79,932,159
Energy 8.5%
Anadarko Petroleum Corp.		69,993		7,199,480
Antero Resources Corp. *		4,975		305,963
Baker Hughes, Inc.		61,032		4,303,977
Cabot Oil & Gas Corp.		58,023		2,102,754
Cameron International Corp. *		31,154		1,992,298
Cheniere Energy, Inc. *		30,626		2,085,937
Concho Resources, Inc. *		14,401		1,898,052
CONSOL Energy, Inc.		31,488		1,390,825
Continental Resources, Inc. *		5,804		814,649
Core Laboratories N.V.		6,268		1,001,940
CVR Energy, Inc.		1,852		87,155
Denbury Resources, Inc.		51,435		868,737
Diamond Offshore Drilling, Inc. (a)		9,382		479,045
Dresser-Rand Group, Inc. *		10,494		642,233
Ensco plc, Class A		32,231		1,697,284
EOG Resources, Inc.		75,748		8,014,138
EQT Corp.		20,776		2,220,539
FMC Technologies, Inc. *		32,596		1,892,524
Halliburton Co.		117,804		7,614,851
Helmerich & Payne, Inc.		14,593		1,604,500
Hess Corp.		38,655		3,529,201
HollyFrontier Corp.		27,313		1,345,165
Kinder Morgan, Inc.		92,898		3,101,864
Marathon Petroleum Corp.		41,581		3,716,926
National Oilwell Varco, Inc.		59,740		4,890,914
Noble Corp. plc		34,962		1,099,905
Noble Energy, Inc.		49,477		3,565,807
Oasis Petroleum, Inc. *		13,586		672,507
Oceaneering International, Inc.		14,893		1,073,041
Oil States International, Inc. *		7,506		807,495
ONEOK, Inc.		28,443		1,834,289
Peabody Energy Corp.		37,647		608,376
Pioneer Natural Resources Co.		19,680		4,135,949
Range Resources Corp.		22,516		2,092,862
Rowan Cos. plc, Class A		17,098		529,354
Schlumberger Ltd.		182,036		18,939,025
SM Energy Co.		9,306		705,488
Southwestern Energy Co. *		48,416		2,201,476
Superior Energy Services, Inc.		23,613		783,715
Tesoro Corp.		18,626		1,046,781
Transocean Ltd.		46,684		1,983,603
Weatherford International Ltd. *		105,943		2,297,904
Whiting Petroleum Corp. *		16,457		1,182,435
				110,360,963
Food & Staples Retailing 3.7%
Costco Wholesale Corp.		61,181		7,098,220
CVS Caremark Corp.		164,436		12,878,627
Wal-Mart Stores, Inc.		224,952		17,269,565
Walgreen Co.		121,435		8,732,391
Whole Foods Market, Inc.		51,391		1,965,192
				47,943,995
Food, Beverage & Tobacco 2.3%
Brown-Forman Corp., Class B		22,417		2,077,383
Flowers Foods, Inc.		24,124		502,986
Keurig Green Mountain, Inc.		18,082		2,039,288
Mead Johnson Nutrition Co.		27,913		2,497,376
Monster Beverage Corp. *		19,174		1,330,292
PepsiCo, Inc.		211,723		18,701,493
The Hershey Co.		20,548		2,000,142
				29,148,960
Health Care Equipment & Services 6.3%
Aetna, Inc.		50,270		3,898,439
AmerisourceBergen Corp.		31,836		2,329,758
Baxter International, Inc.		74,886		5,572,267
Becton Dickinson & Co.		26,792		3,153,418
C.R. Bard, Inc.		10,923		1,615,621
CareFusion Corp. *		29,644		1,272,617
Cerner Corp. *		40,656		2,197,457
Community Health Systems, Inc. *		16,000		668,320
Covidien plc		63,452		4,638,976
DaVita HealthCare Partners, Inc. *		24,285		1,714,278

2 

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
DENTSPLY International, Inc.		19,528		923,479
Edwards Lifesciences Corp. *		15,452		1,254,702
Envision Healthcare Holdings, Inc. *		9,385		323,595
Express Scripts Holding Co. *		107,564		7,687,599
HCA Holdings, Inc. *		43,929		2,327,798
Henry Schein, Inc. *		11,840		1,416,656
Hologic, Inc. *		37,282		911,172
IDEXX Laboratories, Inc. *		7,243		930,581
Intuitive Surgical, Inc. *		5,265		1,946,681
Laboratory Corp. of America Holdings *		12,318		1,263,580
McKesson Corp.		31,841		6,038,327
MEDNAX, Inc. *		13,863		798,925
Medtronic, Inc.		138,713		8,465,654
Patterson Cos., Inc.		11,556		452,533
Premier, Inc., Class A *		3,925		116,337
Quest Diagnostics, Inc.		19,930		1,193,608
ResMed, Inc. (a)		19,503		976,320
Sirona Dental Systems, Inc. *		7,677		577,464
Stryker Corp.		40,642		3,433,843
The Cooper Cos., Inc.		6,954		897,205
UnitedHealth Group, Inc.		137,564		10,954,221
Universal Health Services, Inc., Class B		12,266		1,098,666
Varian Medical Systems, Inc. *		14,833		1,222,981
Veeva Systems, Inc., Class A *		1,677		35,150
				82,308,228
Household & Personal Products 1.1%
Church & Dwight Co., Inc.		19,120		1,323,678
Colgate-Palmolive Co.		121,539		8,313,267
Energizer Holdings, Inc.		8,678		1,006,648
Herbalife Ltd. (a)		11,623		753,519
The Estee Lauder Cos., Inc., Class A		35,216		2,698,250
				14,095,362
Insurance 0.4%
Alleghany Corp. *		2,294		966,049
Erie Indemnity Co., Class A		3,365		254,832
Everest Re Group Ltd.		6,678		1,068,614
Markel Corp. *		1,872		1,198,492
PartnerRe Ltd.		7,135		766,085
RenaissanceRe Holdings Ltd.		6,125		638,041
White Mountains Insurance Group Ltd.		722		426,355
				5,318,468
Materials 3.2%
Airgas, Inc.		9,049		962,090
Ball Corp.		19,915		1,202,069
CF Industries Holdings, Inc.		7,834		1,906,091
Crown Holdings, Inc. *		19,135		934,745
Ecolab, Inc.		37,369		4,080,321
FMC Corp.		18,722		1,433,356
LyondellBasell Industries N.V., Class A		60,311		6,005,166
Monsanto Co.		72,746		8,864,100
PPG Industries, Inc.		19,196		3,870,106
Praxair, Inc.		40,631		5,373,043
Rock-Tenn Co., Class A		9,911		1,001,308
Royal Gold, Inc.		8,927		559,901
Sigma-Aldrich Corp.		16,550		1,630,672
The Sherwin-Williams Co.		11,727		2,399,462
The Valspar Corp.		11,083		827,457
W.R. Grace & Co. *		10,535		970,063
				42,019,950
Media 3.8%
AMC Networks, Inc., Class A *		8,069		499,310
Charter Communications, Inc., Class A *		9,774		1,399,050
Comcast Corp., Class A		362,671		18,931,426
DIRECTV *		65,667		5,413,587
Discovery Communications, Inc., Class A *		31,172		2,398,997
DISH Network Corp., Class A *		28,979		1,699,908
Liberty Global plc, Class A *		50,884		2,290,798
Liberty Global plc, Series C *		52,585		2,250,638
Liberty Media Corp., Class A *		14,060		1,787,448
Scripps Networks Interactive, Inc., Class A		15,026		1,148,888
Sirius XM Holdings, Inc. *		417,288		1,368,705
The Madison Square Garden Co., Class A *		8,208		450,209
Time Warner Cable, Inc.		38,450		5,427,602
Viacom, Inc., Class B		55,750		4,757,147
				49,823,713
Pharmaceuticals, Biotechnology & Life Sciences 10.7%
Actavis plc *		24,186		5,116,306
Agilent Technologies, Inc.		46,739		2,661,319
Alexion Pharmaceuticals, Inc. *		27,417		4,559,995
Allergan, Inc.		41,429		6,937,700
Amgen, Inc.		104,952		12,173,382
Biogen Idec, Inc. *		32,792		10,472,781
BioMarin Pharmaceutical, Inc. *		20,086		1,164,185
Celgene Corp. *		56,274		8,611,610
Covance, Inc. *		7,649		641,445
Endo International plc *		18,860		1,331,327
Forest Laboratories, Inc. *		33,174		3,144,232
Gilead Sciences, Inc. *		213,961		17,375,773
Illumina, Inc. *		17,690		2,799,443
Incyte Corp., Ltd. *		20,204		1,001,108
Johnson & Johnson		393,369		39,911,219
Medivation, Inc. *		10,378		755,830
Mettler-Toledo International, Inc. *		4,069		996,986
Perrigo Co., plc		18,365		2,538,043
Pharmacyclics, Inc. *		9,738		865,027
Regeneron Pharmaceuticals, Inc. *		10,924		3,353,231
Seattle Genetics, Inc. *		15,299		510,528
Thermo Fisher Scientific, Inc.		54,691		6,393,925
Vertex Pharmaceuticals, Inc. *		32,845		2,373,380
Waters Corp. *		11,700		1,171,872
Zoetis, Inc.		68,960		2,117,072
				138,977,719

3

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Real Estate 2.9%
American Campus Communities, Inc.		14,205		551,722
American Tower Corp.		55,242		4,951,340
AvalonBay Communities, Inc.		16,703		2,369,154
Boston Properties, Inc.		21,584		2,604,757
CBRE Group, Inc., Class A *		38,255		1,141,529
Corrections Corp. of America		15,940		518,528
Digital Realty Trust, Inc. (a)		17,672		1,016,140
Essex Property Trust, Inc.		8,649		1,565,123
Extra Space Storage, Inc.		16,380		857,493
Federal Realty Investment Trust		9,442		1,128,508
Host Hotels & Resorts, Inc.		106,309		2,346,240
Jones Lang LaSalle, Inc.		6,006		728,468
Public Storage		20,247		3,490,178
Realogy Holdings Corp. *		20,210		751,408
Simon Property Group, Inc.		43,779		7,287,452
SL Green Realty Corp.		13,310		1,457,312
Taubman Centers, Inc.		8,795		658,746
The Macerich Co.		19,336		1,276,949
Ventas, Inc.		40,454		2,702,327
Washington Prime Group, Inc. *		21,890		435,382
				37,838,756
Retailing 5.6%
Advance Auto Parts, Inc.		9,917		1,231,394
Amazon.com, Inc. *		51,683		16,153,522
AutoNation, Inc. *		8,847		505,783
AutoZone, Inc. *		4,793		2,552,272
Bed Bath & Beyond, Inc. *		30,048		1,828,421
CarMax, Inc. *		30,797		1,364,615
Dick’s Sporting Goods, Inc.		13,952		620,166
Dollar General Corp. *		41,059		2,208,153
Dollar Tree, Inc. *		28,723		1,523,181
Family Dollar Stores, Inc.		13,285		778,501
Groupon, Inc. *		51,412		302,303
Lands’ End, Inc. *(a)		1,806		50,135
LKQ Corp. *		41,322		1,146,272
Lowe’s Cos., Inc.		145,025		6,827,777
Netflix, Inc. *		8,246		3,445,426
Nordstrom, Inc.		19,938		1,356,980
O’Reilly Automotive, Inc. *		14,814		2,191,731
PetSmart, Inc.		14,275		820,384
Ross Stores, Inc.		29,817		2,040,974
Sally Beauty Holdings, Inc. *		20,351		521,393
Sears Holdings Corp. *(a)		6,018		253,087
Target Corp.		88,069		4,998,796
The Priceline Group, Inc. *		7,224		9,236,823
Tiffany & Co.		15,094		1,500,494
TJX Cos., Inc.		98,619		5,369,805
Tractor Supply Co.		19,235		1,250,660
TripAdvisor, Inc. *		15,370		1,493,503
Ulta Salon, Cosmetics & Fragrance, Inc. *		8,787		746,016
Urban Outfitters, Inc. *		14,850		497,772
				72,816,339
Semiconductors & Semiconductor Equipment 0.7%
Altera Corp.		44,005		1,457,886
Broadcom Corp., Class A		75,906		2,419,124
Cree, Inc. *		16,535		795,664
Freescale Semiconductor Ltd. *		13,137		291,510
NVIDIA Corp.		79,822		1,516,618
Skyworks Solutions, Inc.		25,687		1,112,504
Xilinx, Inc.		36,716		1,724,184
				9,317,490
Software & Services 17.1%
Accenture plc, Class A		88,881		7,239,357
Activision Blizzard, Inc.		58,568		1,217,043
Adobe Systems, Inc. *		64,455		4,159,926
Akamai Technologies, Inc. *		24,583		1,335,840
Alliance Data Systems Corp. *		7,364		1,885,552
Amdocs Ltd.		22,226		1,069,515
ANSYS, Inc. *		12,716		933,990
Autodesk, Inc. *		31,948		1,673,117
Automatic Data Processing, Inc.		66,628		5,308,919
Citrix Systems, Inc. *		25,819		1,600,003
Cognizant Technology Solutions Corp., Class A *		84,361		4,100,788
Concur Technologies, Inc. *		6,395		545,941
eBay, Inc. *		161,820		8,209,129
Electronic Arts, Inc. *		42,259		1,484,559
Equinix, Inc. *		6,758		1,343,152
Facebook, Inc., Class A *		237,830		15,054,639
FactSet Research Systems, Inc.		5,549		594,520
Fidelity National Information Services, Inc.		40,219		2,177,859
FireEye, Inc. *(a)		4,187		137,627
Fiserv, Inc. *		35,265		2,119,779
FleetCor Technologies, Inc. *		10,006		1,264,858
Gartner, Inc. *		12,711		903,625
Genpact Ltd. *		21,668		365,106
Global Payments, Inc.		10,153		696,090
Google, Inc., Class A *		39,227		22,424,115
Google, Inc., Class C *		39,230		22,007,245
IAC/InterActiveCorp		10,567		699,641
Informatica Corp. *		14,769		540,398
Intuit, Inc.		39,353		3,120,299
Jack Henry & Associates, Inc.		11,533		668,799
LinkedIn Corp., Class A *		13,378		2,141,684
MasterCard, Inc., Class A		141,432		10,812,476
MICROS Systems, Inc. *		11,286		602,898
Microsoft Corp.		1,050,189		42,994,738
NetSuite, Inc. *		4,098		329,848
Nuance Communications, Inc. *		36,323		587,888
Oracle Corp.		481,492		20,232,294
Rackspace Hosting, Inc. *		15,634		570,485
Red Hat, Inc. *		26,030		1,304,624
Salesforce.com, Inc. *		77,869		4,098,245
ServiceNow, Inc. *		13,755		719,524
Solera Holdings, Inc.		9,452		616,743
Symantec Corp.		96,348		2,118,692
Synopsys, Inc. *		21,306		820,068
Teradata Corp. *		22,518		945,531
TIBCO Software, Inc. *		21,004		451,796
Twitter, Inc. *		10,936		354,764
Vantiv, Inc., Class A *		19,625		608,179
Visa, Inc., Class A		70,581		15,162,916
VMware, Inc., Class A *		11,813		1,139,954

4 

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Workday, Inc., Class A *		4,972		389,656
				221,884,434
Technology Hardware & Equipment 10.4%
3D Systems Corp. *(a)		12,942		655,512
Amphenol Corp., Class A		21,939		2,101,756
Apple, Inc.		123,942		78,455,286
Cisco Systems, Inc.		713,965		17,577,818
EMC Corp.		280,752		7,456,773
F5 Networks, Inc. *		10,718		1,163,439
FLIR Systems, Inc.		19,235		671,494
Juniper Networks, Inc. *		69,934		1,710,586
National Instruments Corp.		13,386		383,375
NetApp, Inc.		46,827		1,733,067
QUALCOMM, Inc.		234,234		18,844,126
SanDisk Corp.		31,122		3,007,319
Trimble Navigation Ltd. *		35,329		1,274,317
				135,034,868
Telecommunication Services 0.6%
Crown Castle International Corp.		46,206		3,545,386
Level 3 Communications, Inc. *		23,512		1,026,299
SBA Communications Corp., Class A *		17,601		1,786,502
T-Mobile US, Inc. *		35,664		1,224,345
tw telecom, Inc. *		20,341		666,981
				8,249,513
Transportation 3.9%
C.H. Robinson Worldwide, Inc.		20,751		1,242,155
CSX Corp.		140,547		4,132,082
Delta Air Lines, Inc.		118,306		4,721,592
Expeditors International of Washington, Inc.		28,466		1,295,488
FedEx Corp.		38,537		5,555,494
Genesee & Wyoming, Inc., Class A *		6,943		675,901
Hertz Global Holdings, Inc. *		62,538		1,846,122
J.B. Hunt Transport Services, Inc.		12,593		977,972
Kansas City Southern		15,305		1,645,594
Kirby Corp. *		7,795		861,737
Southwest Airlines Co.		97,405		2,576,362
Union Pacific Corp.		63,392		12,632,124
United Continental Holdings, Inc. *		51,692		2,293,574
United Parcel Service, Inc., Class B		98,674		10,250,255
				50,706,452
Utilities 0.3%
AES Corp.		90,516		1,276,276
Calpine Corp. *		49,022		1,143,193
ITC Holdings Corp.		21,384		782,654
				3,202,123
Total Common Stock
(Cost $977,447,296)				1,296,694,119
Other Investment Companies 0.1% of net assets
Equity Fund 0.0%
iShares Russell 1000 Growth ETF		3,000		267,690
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (c)		356,177		356,177
Total Other Investment Companies
(Cost $607,776)				623,867
End of Investments
Collateral Invested for Securities on Loan 0.2% of net assets
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (c)		2,546,027		2,546,027
Total Collateral Invested for Securities on Loan
(Cost $2,546,027)				2,546,027
End of Collateral Invested for Securities on Loan

At 05/31/14, the tax basis cost of the fund’s investments was $978,372,920 and the unrealized appreciation and depreciation were $326,183,746 and ($7,238,680), respectively, with a net unrealized appreciation of $318,945,066.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $2,832,834. Non-Cash Collateral received for securities on loan amounted to $360,633.
(b)	Issuer is affiliated with the fund’s adviser.
(c)	The rate shown is the 7-day yield.

ETF —	Exchange Traded Fund
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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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.

6 

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

•  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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$1,296,694,119		$—		$—		$1,296,694,119
Other Investment Companies1		623,867		—		—		623,867
Total		$1,297,317,986		$—		$—		$1,297,317,986
Other Financial Instruments
Collateral Invested for Securities on Loan		$2,546,027		$—		$—		$2,546,027

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 May 31, 2014.

REG56689MAY14

7

Schwab Strategic Trust
Schwab U.S. Large-Cap Value ETF™

Portfolio Holdings as of May 31, 2014 (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		837,632,052		1,023,866,529
	0	.1%	Other Investment Companies		1,525,418		1,559,884
	99	.8%	Total Investments		839,157,470		1,025,426,413
	0	.2%	Other Assets and Liabilities, Net				1,786,746
	100	.0%	Net Assets				1,027,213,159

	Number		Value
Security	of Shares		($)
Common Stock 99.7% of net assets
Automobiles & Components 2.2%
Allison Transmission Holdings, Inc.		13,543		419,427
Autoliv, Inc.		10,751		1,139,606
Delphi Automotive plc		30,244		2,088,651
Ford Motor Co.		428,233		7,040,150
General Motors Co.		141,001		4,875,815
Harley-Davidson, Inc.		23,900		1,702,636
Johnson Controls, Inc.		71,704		3,467,605
Lear Corp.		8,651		761,721
TRW Automotive Holdings Corp. *		12,476		1,058,838
				22,554,449
Banks 11.0%
Bank of America Corp.		1,147,749		17,376,920
BB&T Corp.		76,686		2,907,933
BOK Financial Corp.		2,159		135,542
Citigroup, Inc.		329,892		15,692,962
Comerica, Inc.		20,110		964,677
Cullen/Frost Bankers, Inc.		5,566		416,671
Fifth Third Bancorp		91,917		1,901,763
First Republic Bank		13,262		674,505
Hudson City Bancorp, Inc.		50,306		491,490
Huntington Bancshares, Inc.		88,871		823,834
JPMorgan Chase & Co.		411,648		22,875,279
KeyCorp		97,627		1,336,514
M&T Bank Corp.		14,274		1,732,435
New York Community Bancorp, Inc.		47,752		729,651
People’s United Financial, Inc.		35,617		511,816
Regions Financial Corp.		153,273		1,561,852
SunTrust Banks, Inc.		57,709		2,211,409
The PNC Financial Services Group, Inc.		58,185		4,961,435
U.S. Bancorp		198,068		8,356,489
Wells Fargo & Co.		520,315		26,421,596
Zions Bancorp		19,609		560,621
				112,645,394
Capital Goods 9.4%
3M Co.		68,331		9,740,584
Carlisle Cos., Inc.		6,603		560,331
Eaton Corp. plc		51,556		3,799,162
Emerson Electric Co.		76,016		5,072,548
General Dynamics Corp.		35,110		4,147,193
General Electric Co.		1,089,996		29,200,993
Honeywell International, Inc.		85,076		7,924,829
Hubbell, Inc., Class B		5,991		700,947
IDEX Corp.		8,637		662,285
Ingersoll-Rand plc		27,909		1,669,516
KBR, Inc.		15,808		383,976
L-3 Communications Holdings, Inc.		9,534		1,155,235
Lockheed Martin Corp.		29,280		4,791,672
Masco Corp.		39,142		833,725
Northrop Grumman Corp.		23,405		2,844,878
Oshkosh Corp.		9,062		489,801
Owens Corning		11,820		484,738
Parker Hannifin Corp.		16,298		2,040,998
Raytheon Co.		34,473		3,363,531
Rockwell Automation, Inc.		15,250		1,846,470
Rockwell Collins, Inc.		14,718		1,163,311
Snap-on, Inc.		6,155		721,797
Textron, Inc.		31,291		1,227,233
The Timken Co.		8,500		545,870
United Technologies Corp.		91,370		10,619,021
Xylem, Inc.		19,753		736,787
				96,727,431
Commercial & Professional Services 0.8%
Cintas Corp.		10,924		678,599
Iron Mountain, Inc.		18,649		580,730
Manpowergroup, Inc.		8,780		719,784
Republic Services, Inc.		29,030		1,027,662
The ADT Corp.		19,729		635,274
Tyco International Ltd.		50,707		2,212,853
Waste Management, Inc.		46,628		2,083,339
				7,938,241
Consumer Durables & Apparel 0.7%
Garmin Ltd.		13,181		776,493
Hanesbrands, Inc.		10,537		893,854
Hasbro, Inc.		12,911		693,321
Leggett & Platt, Inc.		15,250		517,280
Lennar Corp., Class A		18,910		773,419
Mattel, Inc.		36,852		1,430,963
Newell Rubbermaid, Inc.		31,450		920,856
Tupperware Brands Corp.		5,216		436,683
Whirlpool Corp.		8,454		1,213,571
				7,656,440

1

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Consumer Services 1.7%
Carnival Corp.		48,142		1,927,124
Darden Restaurants, Inc.		14,427		723,081
H&R Block, Inc.		28,899		860,612
International Game Technology		28,759		360,925
McDonald’s Corp.		107,734		10,927,460
MGM Resorts International *		35,658		918,194
Royal Caribbean Cruises Ltd.		17,347		959,116
Wyndham Worldwide Corp.		14,226		1,051,728
				17,728,240
Diversified Financials 3.3%
Ameriprise Financial, Inc.		20,598		2,319,541
Capital One Financial Corp.		62,112		4,900,016
CME Group, Inc.		34,281		2,468,232
Eaton Vance Corp.		13,386		497,290
Invesco Ltd.		47,419		1,740,277
Legg Mason, Inc.		11,203		547,154
Leucadia National Corp.		33,481		858,788
Morgan Stanley		153,193		4,727,536
Navient Corp. *		46,752		738,682
Northern Trust Corp.		24,197		1,461,499
Raymond James Financial, Inc.		13,183		638,057
SLM Corp.		46,752		402,535
The Bank of New York Mellon Corp.		124,086		4,288,412
The Goldman Sachs Group, Inc.		45,718		7,306,193
The NASDAQ OMX Group, Inc.		12,337		467,572
Voya Financial, Inc.		14,846		531,487
				33,893,271
Energy 11.9%
Apache Corp.		42,858		3,995,223
Chesapeake Energy Corp.		54,255		1,558,204
Chevron Corp.		207,445		25,472,171
Cimarex Energy Co.		9,271		1,197,164
Cobalt International Energy, Inc. *		32,440		599,816
ConocoPhillips		133,343		10,659,439
Devon Energy Corp.		41,640		3,077,196
Exxon Mobil Corp.		469,236		47,172,295
Marathon Oil Corp.		76,248		2,795,252
Murphy Oil Corp.		18,768		1,157,423
Nabors Industries Ltd.		27,816		729,614
Occidental Petroleum Corp.		86,338		8,607,035
Phillips 66		63,449		5,379,841
QEP Resources, Inc.		18,993		606,636
Spectra Energy Corp.		73,092		2,966,073
The Williams Cos., Inc.		74,420		3,494,763
Valero Energy Corp.		58,079		3,255,328
				122,723,473
Food & Staples Retailing 0.6%
Safeway, Inc.		24,850		853,349
Sprouts Farmers Market, Inc. *		10,075		273,033
Sysco Corp.		63,015		2,364,953
The Kroger Co.		56,768		2,710,104
				6,201,439
Food, Beverage & Tobacco 7.7%
Altria Group, Inc.		216,808		9,010,541
Archer-Daniels-Midland Co.		72,230		3,246,016
Bunge Ltd.		15,744		1,223,466
Campbell Soup Co.		19,131		878,113
Coca-Cola Enterprises, Inc.		25,535		1,165,417
ConAgra Foods, Inc.		45,155		1,458,507
Constellation Brands, Inc., Class A *		18,346		1,543,449
Dr. Pepper Snapple Group, Inc.		21,743		1,254,571
General Mills, Inc.		67,426		3,703,710
Hormel Foods Corp.		14,419		709,559
Ingredion, Inc.		8,417		640,955
Kellogg Co.		27,887		1,923,645
Kraft Foods Group, Inc.		64,324		3,824,705
Lorillard, Inc.		39,071		2,429,044
McCormick & Co., Inc. Non-Voting Shares		14,368		1,038,950
Molson Coors Brewing Co., Class B		16,841		1,106,959
Mondelez International, Inc., Class A		185,381		6,974,033
Philip Morris International, Inc.		171,914		15,221,266
Reynolds American, Inc.		33,869		2,019,608
The Coca-Cola Co.		410,907		16,810,205
The Hillshire Brands Co.		13,791		734,785
The J.M. Smucker Co.		11,255		1,154,763
Tyson Foods, Inc., Class A		29,801		1,265,350
				79,337,617
Health Care Equipment & Services 2.4%
Abbott Laboratories		167,907		6,717,959
Boston Scientific Corp. *		143,882		1,846,006
Cardinal Health, Inc.		37,571		2,653,640
Cigna Corp.		29,624		2,659,643
Humana, Inc.		16,729		2,082,091
Omnicare, Inc.		11,043		701,783
St. Jude Medical, Inc.		30,761		1,996,389
Tenet Healthcare Corp. *		10,918		513,146
WellPoint, Inc.		30,473		3,302,054
Zimmer Holdings, Inc.		18,132		1,892,074
				24,364,785
Household & Personal Products 3.0%
Avon Products, Inc.		46,943		670,816
Coty, Inc., Class A		6,094		101,648
Kimberly-Clark Corp.		41,055		4,612,529
The Clorox Co.		13,913		1,246,883
The Procter & Gamble Co.		294,670		23,806,389
				30,438,265
Insurance 5.8%
ACE Ltd.		36,639		3,799,831
Aflac, Inc.		49,225		3,014,047
American Financial Group, Inc.		7,566		441,703
American International Group, Inc.		158,650		8,578,206
Aon plc		33,009		2,968,829
Arch Capital Group Ltd. *		12,505		711,910
Arthur J. Gallagher & Co.		16,513		756,791
Axis Capital Holdings Ltd.		11,358		522,354
Brown & Brown, Inc.		12,544		378,703
Cincinnati Financial Corp.		15,863		777,604

2 

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
CNA Financial Corp.		2,805		112,705
Fidelity National Financial, Inc., Class A		29,297		976,762
Genworth Financial, Inc., Class A *		54,610		927,824
HCC Insurance Holdings, Inc.		10,726		503,908
Lincoln National Corp.		28,329		1,358,659
Loews Corp.		32,764		1,413,111
Marsh & McLennan Cos., Inc.		59,831		3,007,704
MetLife, Inc.		122,139		6,220,539
Principal Financial Group, Inc.		29,317		1,371,156
Prudential Financial, Inc.		50,441		4,144,233
Reinsurance Group of America, Inc.		7,545		589,717
The Allstate Corp.		48,810		2,843,671
The Chubb Corp.		26,501		2,455,583
The Hartford Financial Services Group, Inc.		48,758		1,689,465
The Progressive Corp.		59,214		1,482,126
The Travelers Cos., Inc.		38,114		3,561,753
Torchmark Corp.		9,768		790,524
Unum Group		28,252		958,025
Validus Holdings Ltd.		9,811		366,245
W.R. Berkley Corp.		11,855		528,377
Willis Group Holdings plc		20,023		839,765
XL Group plc		30,967		1,005,189
				59,097,019
Materials 4.1%
Air Products & Chemicals, Inc.		23,070		2,767,708
Albemarle Corp.		8,636		597,525
Alcoa, Inc.		126,349		1,719,610
Ashland, Inc.		8,127		837,081
Avery Dennison Corp.		10,326		523,528
Bemis Co., Inc.		10,813		447,766
Celanese Corp., Series A		17,276		1,083,205
E.I. du Pont de Nemours & Co.		100,463		6,963,091
Eastman Chemical Co.		16,442		1,451,171
Freeport-McMoRan Copper & Gold, Inc.		112,540		3,831,987
Huntsman Corp.		22,174		591,824
International Flavors & Fragrances, Inc.		8,770		870,510
International Paper Co.		47,785		2,276,000
Martin Marietta Materials, Inc.		4,971		610,439
MeadWestvaco Corp.		19,095		774,875
Newmont Mining Corp.		53,291		1,219,831
Nucor Corp.		35,073		1,775,746
Owens-Illinois, Inc. *		17,623		585,612
Packaging Corp. of America		10,447		722,514
Reliance Steel & Aluminum Co.		8,505		611,935
Rockwood Holdings, Inc.		8,296		633,566
RPM International, Inc.		14,773		636,273
Sealed Air Corp.		21,088		694,428
The Dow Chemical Co.		131,679		6,863,109
The Mosaic Co.		36,711		1,835,183
Valhi, Inc.		2,180		12,513
Vulcan Materials Co.		13,873		845,837
Westlake Chemical Corp.		4,212		340,540
				42,123,407
Media 3.7%
Cablevision Systems Corp., Class A		23,024		405,913
CBS Corp., Class B Non-Voting Shares		59,477		3,545,424
Gannett Co., Inc.		24,519		681,383
Lamar Advertising Co., Class A		7,111		350,857
News Corp., Class A *		54,308		926,495
Omnicom Group, Inc.		28,379		2,019,166
The Interpublic Group of Cos., Inc.		46,266		884,606
The Walt Disney Co.		176,747		14,848,515
Time Warner, Inc.		97,142		6,783,426
Twenty-First Century Fox, Inc., Class A		211,215		7,479,123
				37,924,908
Pharmaceuticals, Biotechnology & Life Sciences 6.6%
AbbVie, Inc.		172,447		9,369,045
Bristol-Myers Squibb Co.		178,440		8,875,606
Eli Lilly & Co.		107,217		6,418,010
Hospira, Inc. *		17,711		870,850
Merck & Co., Inc.		319,312		18,475,392
Mylan, Inc. *		40,117		1,999,431
PerkinElmer, Inc.		12,228		549,893
Pfizer, Inc.		694,193		20,568,939
Quintiles Transnational Holdings, Inc. *		5,585		284,723
				67,411,889
Real Estate 2.6%
Alexandria Real Estate Equities, Inc.		7,588		577,371
American Capital Agency Corp.		42,659		1,012,298
Annaly Capital Management, Inc.		102,096		1,203,712
Apartment Investment & Management Co., Class A		16,229		510,889
Brixmor Property Group, Inc.		4,191		91,154
Camden Property Trust		8,987		631,247
DDR Corp.		30,681		531,088
Duke Realty Corp.		36,132		639,536
Equity Residential		36,854		2,277,577
General Growth Properties, Inc.		57,151		1,361,908
HCP, Inc.		49,740		2,076,645
Health Care REIT, Inc.		31,412		1,986,181
Kilroy Realty Corp.		8,641		523,472
Kimco Realty Corp.		43,683		1,001,214
Liberty Property Trust		16,378		633,992
National Retail Properties, Inc.		12,804		447,884
Plum Creek Timber Co., Inc.		18,790		847,429
Prologis, Inc.		54,148		2,247,684
Rayonier, Inc.		13,446		640,030
Realty Income Corp.		23,740		1,027,942
Regency Centers Corp.		9,862		526,631
Senior Housing Properties Trust		21,915		525,522
UDR, Inc.		26,858		739,132
Vornado Realty Trust		18,699		2,002,289
Weingarten Realty Investors		12,046		382,942
Weyerhaeuser Co.		64,227		2,018,012
WP Carey, Inc.		6,603		420,215
				26,883,996

3

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Retailing 2.7%
Abercrombie & Fitch Co., Class A		8,372		318,220
Best Buy Co., Inc.		29,445		814,449
Dillard’s, Inc., Class A		2,553		287,851
Expedia, Inc.		10,866		796,478
Foot Locker, Inc.		16,071		774,301
GameStop Corp., Class A		12,460		471,611
Genuine Parts Co.		16,591		1,432,301
Kohl’s Corp.		22,217		1,209,493
L Brands, Inc.		26,046		1,494,780
Liberty Interactive Corp., Class A *		51,842		1,510,157
Macy’s, Inc.		40,215		2,408,476
Signet Jewelers Ltd.		8,622		914,708
Staples, Inc.		71,446		803,768
The Gap, Inc.		28,287		1,166,273
The Home Depot, Inc.		153,015		12,276,393
Williams-Sonoma, Inc.		9,653		645,979
				27,325,238
Semiconductors & Semiconductor Equipment 3.5%
Analog Devices, Inc.		34,095		1,785,896
Applied Materials, Inc.		131,792		2,660,880
Avago Technologies Ltd.		27,183		1,921,023
Intel Corp.		539,841		14,748,456
KLA-Tencor Corp.		18,019		1,180,605
Lam Research Corp. *		17,401		1,079,558
Linear Technology Corp.		26,107		1,205,099
Marvell Technology Group Ltd.		43,694		680,315
Maxim Integrated Products, Inc.		31,295		1,071,854
Microchip Technology, Inc.		21,138		1,006,169
Micron Technology, Inc. *		115,303		3,296,513
Texas Instruments, Inc.		117,967		5,542,090
				36,178,458
Software & Services 3.0%
Blackhawk Network Holdings, Inc., Class B *		4,070		99,837
CA, Inc.		35,143		1,008,253
Cadence Design Systems, Inc. *		31,383		523,782
Computer Sciences Corp.		15,891		999,385
International Business Machines Corp.		106,218		19,582,350
Leidos Holdings, Inc.		8,068		307,794
Paychex, Inc.		34,812		1,431,121
The Western Union Co.		60,130		972,302
Total System Services, Inc.		17,418		527,069
VeriSign, Inc. *		13,511		676,631
Xerox Corp.		122,783		1,516,370
Yahoo! Inc. *		101,627		3,521,376
				31,166,270
Technology Hardware & Equipment 2.1%
Arrow Electronics, Inc. *		11,083		639,489
Avnet, Inc.		15,189		661,785
Corning, Inc.		142,146		3,027,710
Harris Corp.		11,765		908,846
Hewlett-Packard Co.		206,182		6,907,097
Jabil Circuit, Inc.		19,711		370,961
Motorola Solutions, Inc.		24,584		1,657,453
NCR Corp. *		18,171		593,465
Seagate Technology plc		35,636		1,914,722
TE Connectivity Ltd.		44,323		2,635,446
Western Digital Corp.		22,568		1,982,599
				21,299,573
Telecommunication Services 4.6%
AT&T, Inc.		565,051		20,042,359
CenturyLink, Inc.		62,412		2,351,060
Frontier Communications Corp. (a)		106,659		617,555
Sprint Corp. *		97,443		930,581
Verizon Communications, Inc.		449,457		22,454,872
Windstream Holdings, Inc. (a)		63,495		607,647
				47,004,074
Transportation 0.3%
Norfolk Southern Corp.		33,374		3,362,430
Utilities 6.0%
AGL Resources, Inc.		12,975		692,605
Alliant Energy Corp.		11,872		692,138
Ameren Corp.		26,156		1,029,239
American Electric Power Co., Inc.		53,361		2,846,809
American Water Works Co., Inc.		19,280		937,201
Aqua America, Inc.		19,750		501,255
CenterPoint Energy, Inc.		45,909		1,107,325
CMS Energy Corp.		28,448		846,328
Consolidated Edison, Inc.		32,270		1,775,173
Dominion Resources, Inc.		62,836		4,333,171
DTE Energy Co.		19,588		1,491,039
Duke Energy Corp.		76,988		5,472,307
Edison International		35,913		1,980,243
Entergy Corp.		19,086		1,439,466
Exelon Corp.		93,722		3,451,781
FirstEnergy Corp.		44,822		1,515,880
Integrys Energy Group, Inc.		8,770		508,572
MDU Resources Group, Inc.		20,779		703,992
National Fuel Gas Co.		9,295		697,125
NextEra Energy, Inc.		47,513		4,625,866
NiSource, Inc.		33,428		1,249,204
Northeast Utilities		33,710		1,530,434
NRG Energy, Inc.		34,606		1,233,358
OGE Energy Corp.		21,198		778,603
Pepco Holdings, Inc.		26,387		730,920
PG&E Corp.		50,285		2,306,573
Pinnacle West Capital Corp.		12,259		679,394
PPL Corp.		67,909		2,382,927
Public Service Enterprise Group, Inc.		55,291		2,154,137
Questar Corp.		19,986		481,063
SCANA Corp.		14,917		775,684
Sempra Energy		24,984		2,507,144
TECO Energy, Inc.		21,070		363,879
The Southern Co.		96,840		4,239,655
UGI Corp.		12,054		586,668
Westar Energy, Inc.		13,419		483,755
Wisconsin Energy Corp.		24,392		1,110,324

4 

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Xcel Energy, Inc.		53,283		1,638,985
				61,880,222
Total Common Stock
(Cost $837,632,052)				1,023,866,529
Other Investment Companies 0.1% of net assets
Equity Fund 0.1%
iShares Russell 1000 Value ETF		12,501		1,234,375
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (b)		325,509		325,509
Total Other Investment Companies
(Cost $1,525,418)				1,559,884
End of Investments

At 05/31/14, the tax basis cost of the fund’s investments was $839,793,899 and the unrealized appreciation and depreciation were $187,996,434 and ($2,363,920), respectively, with a net unrealized appreciation $185,632,514.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $3,814. Non-Cash Collateral received for securities on loan amounted to $3,952.
(b)	The rate shown is the 7-day yield.

ETF —	Exchange Traded Fund
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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

5

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$1,023,866,529		$—		$—		$1,023,866,529
Other Investment Companies1		1,559,884		—		—		1,559,884
Total		$1,025,426,413		$—		$—		$1,025,426,413

¹ As categorized in portfolio holdings.

6 

 Schwab U.S. Large-Cap Value 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 May 31, 2014.

REG56690MAY14

7

Schwab Strategic Trust
Schwab U.S. Mid-Cap ETF™

Portfolio Holdings as of May 31, 2014 (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	.9%	Common Stock		935,250,965		1,104,452,633
	0	.1%	Other Investment Companies		542,226		542,478
	100	.0%	Total Investments		935,793,191		1,104,995,111
	1	.0%	Collateral Invested for Securities on Loan		10,702,204		10,702,204
	(1	.0)%	Other Assets and Liabilities, Net				(10,392,833	)
	100	.0%	Net Assets				1,105,304,482

	Number		Value
Security	of Shares		($)
Common Stock 99.9% of net assets
Automobiles & Components 1.7%
Allison Transmission Holdings, Inc.		56,430		1,747,637
Dana Holding Corp.		70,330		1,557,106
Gentex Corp.		67,173		1,942,643
Lear Corp.		37,250		3,279,863
The Goodyear Tire & Rubber Co.		127,110		3,351,891
TRW Automotive Holdings Corp. *		53,209		4,515,848
Visteon Corp. *		22,572		2,057,212
				18,452,200
Banks 3.8%
Associated Banc-Corp.		76,662		1,320,886
BankUnited, Inc.		46,681		1,519,000
BOK Financial Corp.		9,372		588,374
City National Corp.		21,430		1,523,459
Commerce Bancshares, Inc.		36,775		1,596,403
Cullen/Frost Bankers, Inc.		24,043		1,799,859
East West Bancorp, Inc.		66,044		2,211,153
First Horizon National Corp.		112,911		1,293,960
First Niagara Financial Group, Inc.		167,874		1,445,395
First Republic Bank		57,819		2,940,674
Hancock Holding Co.		38,546		1,302,084
Hudson City Bancorp, Inc.		217,022		2,120,305
Huntington Bancshares, Inc.		383,466		3,554,730
Nationstar Mortgage Holdings, Inc. *(a)		9,409		328,939
New York Community Bancorp, Inc.		203,547		3,110,198
Ocwen Financial Corp. *		53,875		1,889,396
People’s United Financial, Inc.		143,132		2,056,807
Popular, Inc. *		49,590		1,496,626
Prosperity Bancshares, Inc.		27,930		1,623,571
Signature Bank *		21,887		2,534,952
SVB Financial Group *		22,800		2,404,260
TFS Financial Corp. *		34,855		469,845
Zions Bancorp		84,598		2,418,657
				41,549,533
Capital Goods 12.3%
A.O. Smith Corp.		34,785		1,717,683
Acuity Brands, Inc.		19,842		2,490,369
AECOM Technology Corp. *		45,698		1,468,734
AGCO Corp.		40,183		2,168,275
Allegion plc		41,221		2,159,568
Armstrong World Industries, Inc. *		21,660		1,149,496
B/E Aerospace, Inc. *		45,955		4,446,146
Carlisle Cos., Inc.		29,218		2,479,439
Chicago Bridge & Iron Co. N.V.		49,190		4,004,066
CLARCOR, Inc.		22,432		1,312,945
Colfax Corp. *		42,614		3,101,873
Crane Co.		23,370		1,731,951
Donaldson Co., Inc.		61,935		2,522,613
EMCOR Group, Inc.		31,467		1,400,911
Fortune Brands Home & Security, Inc.		76,518		3,059,190
Generac Holdings, Inc.		31,958		1,555,715
Graco, Inc.		28,071		2,048,622
HD Supply Holdings, Inc. *		46,170		1,212,886
Hexcel Corp. *		45,918		1,884,934
Hubbell, Inc., Class B		24,691		2,888,847
IDEX Corp.		37,060		2,841,761
ITT Corp.		41,751		1,823,684
Jacobs Engineering Group, Inc. *		60,833		3,350,073
KBR, Inc.		68,058		1,653,129
Kennametal, Inc.		36,307		1,635,267
Lennox International, Inc.		20,760		1,762,939
Lincoln Electric Holdings, Inc.		37,065		2,434,800
Masco Corp.		164,449		3,502,764
MSC Industrial Direct Co., Inc., Class A		21,781		2,003,199
Nordson Corp.		27,589		2,249,607
Oshkosh Corp.		38,812		2,097,789
Owens Corning		49,610		2,034,506
Pall Corp.		50,622		4,289,708
Quanta Services, Inc. *		100,116		3,398,938
Regal-Beloit Corp.		20,317		1,550,797
Sensata Technologies Holding N.V. *		71,250		3,055,913
Snap-on, Inc.		27,224		3,192,559
Spirit AeroSystems Holdings, Inc., Class A *		46,265		1,501,299
SPX Corp.		20,695		2,165,525
Teledyne Technologies, Inc. *		17,729		1,680,177
Terex Corp.		50,433		1,939,653
The Babcock & Wilcox Co.		50,314		1,626,148
The Manitowoc Co., Inc.		61,887		1,674,043
The Middleby Corp. *		8,698		2,077,256
The Timken Co.		35,954		2,308,966
The Toro Co.		26,435		1,707,172

1

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
TransDigm Group, Inc.		22,880		4,317,685
Trinity Industries, Inc.		36,268		3,138,270
Triumph Group, Inc.		24,068		1,667,912
United Rentals, Inc. *		42,994		4,344,544
URS Corp.		33,269		1,497,105
USG Corp. *		43,185		1,294,686
Valmont Industries, Inc.		12,179		1,887,136
WABCO Holdings, Inc. *		28,620		3,055,757
Wabtec Corp.		44,565		3,509,048
Watsco, Inc.		12,499		1,257,774
WESCO International, Inc. *		20,828		1,779,128
Woodward, Inc.		28,095		1,255,847
Xylem, Inc.		84,780		3,162,294
				136,529,121
Commercial & Professional Services 3.0%
Cintas Corp.		46,433		2,884,418
Clean Harbors, Inc. *		25,425		1,553,722
Copart, Inc. *		51,080		1,816,916
Covanta Holding Corp.		60,705		1,158,858
Equifax, Inc.		56,282		3,984,203
Iron Mountain, Inc.		76,950		2,396,223
KAR Auction Services, Inc.		64,040		1,955,781
Manpowergroup, Inc.		36,657		3,005,141
Pitney Bowes, Inc.		93,824		2,592,357
Robert Half International, Inc.		63,222		2,882,291
Rollins, Inc.		29,958		918,812
The Dun & Bradstreet Corp.		17,335		1,789,839
Towers Watson & Co., Class A		29,645		3,335,359
Waste Connections, Inc.		56,612		2,579,809
				32,853,729
Consumer Durables & Apparel 4.8%
Brunswick Corp.		42,580		1,835,198
Carter’s, Inc.		25,124		1,812,194
D.R. Horton, Inc.		131,466		3,113,115
Fossil Group, Inc. *		22,152		2,320,644
Hanesbrands, Inc.		45,874		3,891,491
Harman International Industries, Inc.		31,248		3,281,977
Hasbro, Inc.		53,995		2,899,532
Jarden Corp. *		56,430		3,192,809
Leggett & Platt, Inc.		64,435		2,185,635
Lennar Corp., Class A		80,370		3,287,133
Mohawk Industries, Inc. *		28,164		3,820,728
Newell Rubbermaid, Inc.		128,652		3,766,931
NVR, Inc. *		1,900		2,115,916
Polaris Industries, Inc.		29,944		3,860,381
PulteGroup, Inc.		160,740		3,144,074
Toll Brothers, Inc. *		74,670		2,704,547
Tupperware Brands Corp.		23,564		1,972,778
Under Armour, Inc., Class A *		73,392		3,727,580
				52,932,663
Consumer Services 2.9%
Aramark		16,973		447,748
Bally Technologies, Inc. *		18,502		1,091,618
Bloomin’ Brands, Inc. *		34,446		717,855
Brinker International, Inc.		30,966		1,537,462
Burger King Worldwide, Inc.		28,010		719,577
Darden Restaurants, Inc.		61,560		3,085,387
Domino’s Pizza, Inc.		25,709		1,862,617
Dunkin’ Brands Group, Inc.		48,623		2,176,365
Extended Stay America, Inc.		12,880		284,648
Graham Holdings Co., Class B		1,996		1,351,172
H&R Block, Inc.		126,560		3,768,957
International Game Technology		115,190		1,445,635
MGM Resorts International *		153,814		3,960,710
Norwegian Cruise Line Holdings Ltd. *		42,559		1,436,366
Panera Bread Co., Class A *		12,144		1,865,440
Penn National Gaming, Inc. *		31,770		370,438
SeaWorld Entertainment, Inc.		30,210		922,009
Service Corp. International		96,384		1,929,608
Six Flags Entertainment Corp.		43,861		1,774,616
Sotheby’s		32,266		1,273,862
				32,022,090
Diversified Financials 2.4%
CBOE Holdings, Inc.		40,144		2,034,498
Credit Acceptance Corp. *		4,328		565,237
E*TRADE Financial Corp. *		132,987		2,708,945
Eaton Vance Corp.		56,719		2,107,111
Federated Investors, Inc., Class B		42,948		1,214,140
Legg Mason, Inc.		48,465		2,367,030
LPL Financial Holdings, Inc.		34,770		1,630,713
MSCI, Inc. *		53,787		2,321,447
Raymond James Financial, Inc.		57,137		2,765,431
SEI Investments Co.		66,355		2,185,070
The NASDAQ OMX Group, Inc.		54,422		2,062,594
Voya Financial, Inc.		64,980		2,326,284
Waddell & Reed Financial, Inc., Class A		38,874		2,347,212
				26,635,712
Energy 7.2%
Atwood Oceanics, Inc. *		26,220		1,293,957
Cheniere Energy, Inc. *		101,485		6,912,143
Cimarex Energy Co.		40,131		5,182,116
Core Laboratories N.V.		20,881		3,337,828
CVR Energy, Inc. (a)		7,980		375,539
Dresser-Rand Group, Inc. *		35,513		2,173,396
Dril-Quip, Inc. *		18,495		1,890,559
Energen Corp.		33,925		2,896,516
EP Energy Corp., Class A *		15,789		316,727
Frank’s International N.V.		13,445		320,529
Gulfport Energy Corp. *		39,900		2,455,047
Helix Energy Solutions Group, Inc. *		44,152		1,032,274
Helmerich & Payne, Inc.		50,160		5,515,092
Kosmos Energy Ltd. *		45,902		481,053
Laredo Petroleum, Inc. *		25,947		717,953
Nabors Industries Ltd.		120,375		3,157,436
Newfield Exploration Co. *		62,881		2,293,899
Oasis Petroleum, Inc. *		43,745		2,165,377
Oceaneering International, Inc.		49,901		3,595,367
Oil States International, Inc. *		24,604		2,646,898
Patterson-UTI Energy, Inc.		65,665		2,172,855
QEP Resources, Inc.		82,302		2,628,726

2 

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Rosetta Resources, Inc. *		28,653		1,350,416
Rowan Cos. plc, Class A		56,619		1,752,924
RPC, Inc.		28,846		637,208
SM Energy Co.		30,558		2,316,602
Superior Energy Services, Inc.		72,652		2,411,320
Targa Resources Corp.		13,271		1,525,634
Teekay Corp.		17,616		1,019,086
Tesoro Corp.		60,788		3,416,286
Tidewater, Inc.		22,328		1,163,735
Ultra Petroleum Corp. *		69,730		1,884,105
Western Refining, Inc.		24,179		991,823
Whiting Petroleum Corp. *		54,989		3,950,960
World Fuel Services Corp.		33,706		1,562,610
WPX Energy, Inc. *		95,190		2,016,124
				79,560,120
Food & Staples Retailing 0.6%
Safeway, Inc.		106,617		3,661,228
Sprouts Farmers Market, Inc. *		41,467		1,123,756
The Fresh Market, Inc. *		18,480		566,412
United Natural Foods, Inc. *		22,883		1,542,543
				6,893,939
Food, Beverage & Tobacco 1.2%
Flowers Foods, Inc.		82,368		1,717,373
Ingredion, Inc.		34,359		2,616,438
Pilgrim’s Pride Corp. *		26,510		674,414
Pinnacle Foods, Inc.		24,959		781,466
Seaboard Corp. *		131		353,025
The Hain Celestial Group, Inc. *		23,000		2,086,560
The Hillshire Brands Co.		56,006		2,984,000
The WhiteWave Foods Co., Class A *		80,045		2,520,617
				13,733,893
Health Care Equipment & Services 4.2%
Align Technology, Inc. *		32,148		1,755,602
athenahealth, Inc. *		16,940		2,149,855
Brookdale Senior Living, Inc. *		45,045		1,498,197
Centene Corp. *		26,173		1,950,412
Community Health Systems, Inc. *		52,596		2,196,935
DENTSPLY International, Inc.		65,981		3,120,241
Envision Healthcare Holdings, Inc. *		31,736		1,094,257
Hologic, Inc. *		126,589		3,093,835
IDEXX Laboratories, Inc. *		23,940		3,075,811
MEDNAX, Inc. *		46,320		2,669,422
Omnicare, Inc.		46,014		2,924,190
Patterson Cos., Inc.		37,980		1,487,297
Premier, Inc., Class A *		12,315		365,017
ResMed, Inc. (a)		65,667		3,287,290
Sirona Dental Systems, Inc. *		25,945		1,951,583
Team Health Holdings, Inc. *		32,294		1,639,566
Teleflex, Inc.		19,005		2,026,693
Tenet Healthcare Corp. *		44,733		2,102,451
The Cooper Cos., Inc.		22,395		2,889,403
Universal Health Services, Inc., Class B		41,045		3,676,401
Veeva Systems, Inc., Class A *		11,347		237,833
WellCare Health Plans, Inc. *		20,837		1,613,826
				46,806,117
Household & Personal Products 0.8%
Coty, Inc., Class A		25,752		429,543
Energizer Holdings, Inc.		28,733		3,333,028
Herbalife Ltd. (a)		38,485		2,494,983
Nu Skin Enterprises, Inc., Class A		27,663		2,042,636
Spectrum Brands Holdings, Inc.		9,707		755,884
				9,056,074
Insurance 6.0%
Alleghany Corp. *		7,624		3,210,619
Allied World Assurance Co. Holdings AG		45,417		1,703,137
American Financial Group, Inc.		33,934		1,981,067
American National Insurance Co.		2,284		261,518
AmTrust Financial Services, Inc. (a)		13,165		562,146
Arch Capital Group Ltd. *		53,851		3,065,737
Arthur J. Gallagher & Co.		69,540		3,187,018
Assurant, Inc.		33,025		2,239,425
Assured Guaranty Ltd.		73,565		1,796,457
Axis Capital Holdings Ltd.		49,305		2,267,537
Brown & Brown, Inc.		54,418		1,642,879
Cincinnati Financial Corp.		67,888		3,327,870
CNO Financial Group, Inc.		102,412		1,651,906
Erie Indemnity Co., Class A		11,461		867,942
Everest Re Group Ltd.		21,846		3,495,797
Fidelity National Financial, Inc., Class A		126,337		4,212,076
Genworth Financial, Inc., Class A *		230,037		3,908,329
HCC Insurance Holdings, Inc.		46,294		2,174,892
Markel Corp. *		6,489		4,154,388
Old Republic International Corp.		110,072		1,882,231
PartnerRe Ltd.		22,230		2,386,835
ProAssurance Corp.		28,615		1,300,552
Protective Life Corp.		36,915		1,930,654
Reinsurance Group of America, Inc.		32,243		2,520,113
RenaissanceRe Holdings Ltd.		19,386		2,019,440
Torchmark Corp.		40,837		3,304,938
Validus Holdings Ltd.		43,058		1,607,355
W.R. Berkley Corp.		48,027		2,140,563
White Mountains Insurance Group Ltd.		2,611		1,541,848
				66,345,269
Materials 7.6%
Airgas, Inc.		30,686		3,262,535
Albemarle Corp.		36,667		2,536,990
Allegheny Technologies, Inc.		49,681		2,040,399
AptarGroup, Inc.		30,647		2,040,784
Ashland, Inc.		33,457		3,446,071
Avery Dennison Corp.		44,270		2,244,489
Axiall Corp.		31,405		1,451,225
Bemis Co., Inc.		47,460		1,965,319
Carpenter Technology Corp.		24,146		1,508,884
Cliffs Natural Resources, Inc. (a)		72,179		1,131,767
Crown Holdings, Inc. *		63,855		3,119,317

3

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Cytec Industries, Inc.		15,970		1,586,619
Eagle Materials, Inc.		22,582		1,963,956
Graphic Packaging Holding Co. *		146,490		1,609,925
Greif, Inc., Class A		13,516		738,244
Huntsman Corp.		92,340		2,464,555
International Flavors & Fragrances, Inc.		37,727		3,744,782
Martin Marietta Materials, Inc.		21,392		2,626,938
MeadWestvaco Corp.		80,531		3,267,948
NewMarket Corp.		5,211		2,040,159
Owens-Illinois, Inc. *		76,002		2,525,546
Packaging Corp. of America		45,034		3,114,551
Reliance Steel & Aluminum Co.		35,701		2,568,687
Rock-Tenn Co., Class A		33,358		3,370,159
Rockwood Holdings, Inc.		33,066		2,525,250
Royal Gold, Inc.		29,837		1,871,377
RPM International, Inc.		61,419		2,645,316
Sealed Air Corp.		90,495		2,980,000
Silgan Holdings, Inc.		20,363		994,325
Sonoco Products Co.		46,451		1,962,090
Steel Dynamics, Inc.		100,394		1,733,804
The Scotts Miracle-Gro Co., Class A		20,086		1,204,156
The Valspar Corp.		36,283		2,708,889
Valhi, Inc.		9,944		57,079
Vulcan Materials Co.		60,691		3,700,330
W.R. Grace & Co. *		35,543		3,272,799
Westlake Chemical Corp.		18,925		1,530,086
				83,555,350
Media 1.5%
AMC Networks, Inc., Class A *		27,069		1,675,030
Cablevision Systems Corp., Class A		97,762		1,723,544
Cinemark Holdings, Inc.		48,792		1,537,924
Clear Channel Outdoor Holdings, Inc., Class A		17,782		145,101
Gannett Co., Inc.		106,070		2,947,685
Lamar Advertising Co., Class A		29,817		1,471,171
Morningstar, Inc.		9,749		693,544
Regal Entertainment Group, Class A (a)		36,154		705,365
The Interpublic Group of Cos., Inc.		195,629		3,740,426
The Madison Square Garden Co., Class A *		28,372		1,556,204
				16,195,994
Pharmaceuticals, Biotechnology & Life Sciences 4.5%
Alkermes plc *		66,007		3,023,781
ARIAD Pharmaceuticals, Inc. *(a)		87,624		566,051
Bio-Rad Laboratories, Inc., Class A *		9,259		1,117,839
BioMarin Pharmaceutical, Inc. *		66,485		3,853,471
Bruker Corp. *		49,753		1,042,325
Covance, Inc. *		25,909		2,172,729
Cubist Pharmaceuticals, Inc. *		34,770		2,315,682
Endo International plc *		63,425		4,477,171
Hospira, Inc. *		76,163		3,744,935
Incyte Corp., Ltd. *		68,719		3,405,026
Jazz Pharmaceuticals plc *		24,307		3,448,191
Medivation, Inc. *		35,174		2,561,722
Mettler-Toledo International, Inc. *		13,680		3,351,874
PerkinElmer, Inc.		52,601		2,365,467
Pharmacyclics, Inc. *		31,397		2,788,995
Quintiles Transnational Holdings, Inc. *		23,975		1,222,245
Salix Pharmaceuticals Ltd. *		28,959		3,303,643
Seattle Genetics, Inc. *		50,840		1,696,531
Techne Corp.		15,390		1,351,088
United Therapeutics Corp. *		21,204		2,030,071
				49,838,837
Real Estate 9.4%
Alexandria Real Estate Equities, Inc.		32,695		2,487,763
American Campus Communities, Inc.		48,319		1,876,710
American Homes 4 Rent, Class A		19,696		347,044
Apartment Investment & Management Co., Class A		66,468		2,092,413
BioMed Realty Trust, Inc.		90,384		1,961,333
Brixmor Property Group, Inc.		20,225		439,894
Camden Property Trust		39,017		2,740,554
CBL & Associates Properties, Inc.		78,142		1,470,632
CBRE Group, Inc., Class A *		130,397		3,891,046
Chimera Investment Corp.		469,248		1,478,131
Corrections Corp. of America		54,550		1,774,511
DDR Corp.		134,235		2,323,608
Douglas Emmett, Inc.		59,682		1,694,372
Duke Realty Corp.		149,078		2,638,681
Equity Lifestyle Properties, Inc.		36,248		1,585,488
Essex Property Trust, Inc.		28,581		5,172,018
Extra Space Storage, Inc.		50,792		2,658,961
Federal Realty Investment Trust		30,827		3,684,443
Forest City Enterprises, Inc., Class A *		72,261		1,375,127
Gaming & Leisure Properties, Inc.		39,769		1,334,648
Highwoods Properties, Inc.		42,295		1,716,331
Home Properties, Inc.		26,443		1,644,226
Hospitality Properties Trust		70,680		2,050,427
Jones Lang LaSalle, Inc.		20,252		2,456,365
Kilroy Realty Corp.		38,760		2,348,081
Liberty Property Trust		66,955		2,591,828
MFA Financial, Inc.		169,130		1,391,940
Mid-America Apartment Communities, Inc.		34,569		2,501,067
National Retail Properties, Inc.		55,578		1,944,118
Omega Healthcare Investors, Inc.		56,696		2,091,515
Piedmont Office Realty Trust, Inc., Class A (a)		71,157		1,324,943
Rayonier, Inc.		59,427		2,828,725
Realogy Holdings Corp. *		66,930		2,488,457
Realty Income Corp.		100,840		4,366,372
Regency Centers Corp.		41,972		2,241,305
Retail Properties of America, Inc., Class A		86,123		1,295,290
RLJ Lodging Trust		57,912		1,604,742
Senior Housing Properties Trust		92,858		2,226,735
SL Green Realty Corp.		43,931		4,810,005
Starwood Property Trust, Inc.		103,170		2,516,316
Tanger Factory Outlet Centers, Inc.		43,586		1,543,816

4 

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Taubman Centers, Inc.		28,506		2,135,099
The Howard Hughes Corp. *		14,315		2,119,765
Two Harbors Investment Corp.		168,356		1,772,789
UDR, Inc.		115,925		3,190,256
Weingarten Realty Investors		50,962		1,620,082
WP Carey, Inc.		27,360		1,741,190
				103,589,162
Retailing 4.3%
Abercrombie & Fitch Co., Class A		35,086		1,333,619
Advance Auto Parts, Inc.		34,200		4,246,614
American Eagle Outfitters, Inc.		78,503		842,337
Ascena Retail Group, Inc. *		59,541		994,037
AutoNation, Inc. *		29,307		1,675,481
Cabela’s, Inc. *		21,357		1,307,689
Dick’s Sporting Goods, Inc.		46,509		2,067,325
Dillard’s, Inc., Class A		11,003		1,240,588
DSW, Inc., Class A		33,286		833,814
Foot Locker, Inc.		67,677		3,260,678
GameStop Corp., Class A		53,409		2,021,531
GNC Holdings, Inc., Class A		43,802		1,617,170
Groupon, Inc. *		170,561		1,002,899
HSN, Inc.		15,457		859,718
J.C. Penney Co., Inc. *(a)		140,525		1,263,320
Lands’ End, Inc. *(a)		5,951		165,200
LKQ Corp. *		139,090		3,858,357
Penske Automotive Group, Inc.		18,849		876,855
Sally Beauty Holdings, Inc. *		65,125		1,668,503
Sears Holdings Corp. *(a)		19,800		832,689
Signet Jewelers Ltd.		36,981		3,923,314
Tractor Supply Co.		64,622		4,201,722
Ulta Salon, Cosmetics & Fragrance, Inc. *		29,884		2,537,152
Urban Outfitters, Inc. *		45,600		1,528,512
Williams-Sonoma, Inc.		40,730		2,725,652
zulily, Inc., Class A *(a)		5,139		178,477
				47,063,253
Semiconductors & Semiconductor Equipment 2.0%
Atmel Corp. *		200,480		1,680,022
Cree, Inc. *		56,572		2,722,245
First Solar, Inc. *		32,591		2,013,472
Freescale Semiconductor Ltd. *		42,614		945,605
Lam Research Corp. *		74,685		4,633,457
Marvell Technology Group Ltd.		185,844		2,893,591
ON Semiconductor Corp. *		204,692		1,778,773
Skyworks Solutions, Inc.		87,949		3,809,071
Teradyne, Inc.		88,557		1,576,315
				22,052,551
Software & Services 7.6%
Akamai Technologies, Inc. *		82,354		4,475,116
Amdocs Ltd.		74,157		3,568,435
ANSYS, Inc. *		42,355		3,110,975
AOL, Inc. *		36,648		1,329,589
Aspen Technology, Inc. *		42,653		1,833,652
Blackhawk Network Holdings, Inc., Class B *		17,506		429,422
Booz Allen Hamilton Holding Corp.		27,996		619,552
Broadridge Financial Solutions, Inc.		55,726		2,285,881
Cadence Design Systems, Inc. *		133,348		2,225,578
CommVault Systems, Inc. *		20,201		988,233
Computer Sciences Corp.		67,190		4,225,579
Concur Technologies, Inc. *		21,933		1,872,420
CoStar Group, Inc. *		13,303		2,109,191
DST Systems, Inc.		15,960		1,454,754
Electronic Arts, Inc. *		142,815		5,017,091
FactSet Research Systems, Inc.		18,350		1,966,019
FireEye, Inc. *(a)		13,951		458,569
FleetCor Technologies, Inc. *		33,775		4,269,498
Fortinet, Inc. *		63,093		1,417,700
Gartner, Inc. *		42,180		2,998,576
Genpact Ltd. *		71,820		1,210,167
Global Payments, Inc.		33,175		2,274,478
IAC/InterActiveCorp		35,554		2,354,030
Informatica Corp. *		49,115		1,797,118
Jack Henry & Associates, Inc.		38,987		2,260,856
Leidos Holdings, Inc.		29,640		1,130,766
MICROS Systems, Inc. *		34,780		1,857,948
NetSuite, Inc. *		13,804		1,111,084
NeuStar, Inc., Class A *		29,080		814,822
PTC, Inc. *		54,538		2,006,998
ServiceNow, Inc. *		47,030		2,460,139
SolarWinds, Inc. *		30,039		1,174,225
Solera Holdings, Inc.		31,798		2,074,820
Splunk, Inc. *		39,797		1,665,902
Synopsys, Inc. *		71,067		2,735,369
Syntel, Inc. *		7,456		603,190
Tableau Software, Inc., Class A *		15,960		926,318
The Ultimate Software Group, Inc. *		12,867		1,635,782
TIBCO Software, Inc. *		70,914		1,525,360
Total System Services, Inc.		76,418		2,312,409
Vantiv, Inc., Class A *		65,346		2,025,073
WEX, Inc. *		17,929		1,726,383
				84,339,067
Technology Hardware & Equipment 3.4%
3D Systems Corp. *(a)		44,769		2,267,550
Anixter International, Inc.		12,192		1,255,776
Arrow Electronics, Inc. *		45,892		2,647,968
Avnet, Inc.		62,882		2,739,769
Brocade Communications Systems, Inc. *		208,141		1,898,246
CDW Corp.		38,190		1,123,168
CommScope Holding Co., Inc. *		28,426		751,583
Dolby Laboratories, Inc., Class A *		21,722		902,332
EchoStar Corp., Class A *		19,687		1,005,415
FEI Co.		19,657		1,640,377
FLIR Systems, Inc.		66,690		2,328,148
Harris Corp.		49,129		3,795,215
Ingram Micro, Inc., Class A *		72,629		2,016,907
IPG Photonics Corp. *		15,689		989,976
Jabil Circuit, Inc.		84,566		1,591,532
JDS Uniphase Corp. *		105,204		1,154,088
National Instruments Corp.		45,983		1,316,953
NCR Corp. *		76,080		2,484,773

5

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Nimble Storage, Inc. *(a)		3,623		91,916
Palo Alto Networks, Inc. *		21,506		1,611,014
Trimble Navigation Ltd. *		120,651		4,351,882
				37,964,588
Telecommunication Services 1.1%
Frontier Communications Corp. (a)		460,135		2,664,182
Level 3 Communications, Inc. *		79,230		3,458,389
Telephone & Data Systems, Inc.		46,030		1,275,491
tw telecom, Inc. *		64,857		2,126,661
United States Cellular Corp.		5,859		251,644
Windstream Holdings, Inc. (a)		276,008		2,641,397
				12,417,764
Transportation 2.2%
Alaska Air Group, Inc.		31,672		3,118,425
AMERCO		2,863		790,474
American Airlines Group, Inc. *		89,130		3,579,461
Avis Budget Group, Inc. *		49,441		2,829,508
Genesee & Wyoming, Inc., Class A *		23,483		2,286,070
J.B. Hunt Transport Services, Inc.		41,927		3,256,051
Kirby Corp. *		25,928		2,866,340
Landstar System, Inc.		20,924		1,358,595
Old Dominion Freight Line, Inc. *		31,986		2,045,825
Ryder System, Inc.		24,631		2,137,725
				24,268,474
Utilities 5.4%
AGL Resources, Inc.		54,352		2,901,310
Alliant Energy Corp.		51,729		3,015,801
American Water Works Co., Inc.		82,713		4,020,679
Aqua America, Inc.		81,170		2,060,094
Atmos Energy Corp.		46,208		2,315,021
Cleco Corp.		27,757		1,444,197
CMS Energy Corp.		123,029		3,660,113
Great Plains Energy, Inc.		71,037		1,807,892
Integrys Energy Group, Inc.		37,252		2,160,243
ITC Holdings Corp.		72,975		2,670,885
MDU Resources Group, Inc.		87,359		2,959,723
National Fuel Gas Co.		38,626		2,896,950
NRG Energy, Inc.		151,620		5,403,737
OGE Energy Corp.		90,930		3,339,859
Pepco Holdings, Inc.		114,275		3,165,417
Pinnacle West Capital Corp.		50,392		2,792,725
Questar Corp.		80,991		1,949,453
SCANA Corp.		65,222		3,391,544
TECO Energy, Inc.		93,074		1,607,388
UGI Corp.		52,920		2,575,616
Vectren Corp.		37,374		1,490,475
Westar Energy, Inc.		60,139		2,168,011
				59,797,133
Total Common Stock
(Cost $935,250,965)				1,104,452,633
Other Investment Companies 0.1% of net assets
Equity Fund 0.0%
SPDR S&P MidCap 400 ETF		5		1,254
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (b)		541,224		541,224
Total Other Investment Companies
(Cost $542,226)				542,478
End of Investments
Collateral Invested for Securities on Loan 1.0% of net assets
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (b)		10,702,204		10,702,204
Total Collateral Invested for Securities on Loan
(Cost $10,702,204)				10,702,204
End of Collateral Invested for Securities on Loan

At 05/31/14, the tax basis cost of the fund’s investments was $936,501,022 and the unrealized appreciation and depreciation were $182,779,151 and ($14,285,062), respectively, with a net unrealized appreciation of $168,494,089.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $12,344,763. Non-Cash Collateral received for securities on loan amounted to $2,077,384.
(b)	The rate shown is the 7-day yield.

ETF — Exchange Traded Fund

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.

6 

 Schwab U.S. Mid-Cap 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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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.

7

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

•  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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$1,104,452,633		$—		$—		$1,104,452,633
Other Investment Companies1		542,478		—		—		542,478
Total		$1,104,995,111		$—		$—		$1,104,995,111
Other Financial Instruments
Collateral Invested for Securities on Loan		$10,702,204		$—		$—		$10,702,204

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 May 31, 2014.

REG65851MAY14

8 

Schwab Strategic Trust
Schwab U.S. Small-Cap ETF™

Portfolio Holdings as of May 31, 2014 (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	.9%	Common Stock		1,651,291,370		1,993,831,573
	0	.0%	Other Investment Companies		203,193		208,802
	0	.0%	Rights		115,419		115,419
	0	.0%	Warrants		—		—
	99	.9%	Total Investments		1,651,609,982		1,994,155,794
	3	.6%	Collateral Invested for Securities on Loan		71,627,588		71,627,588
	(3	.5)%	Other Assets and Liabilities, Net				(70,060,182	)
	100	.0%	Net Assets				1,995,723,200

	Number		Value
Security	of Shares		($)
Common Stock 99.9% of net assets
Automobiles & Components 1.6%
American Axle & Manufacturing Holdings, Inc. *		59,417		1,101,591
Cooper Tire & Rubber Co.		51,591		1,435,778
Dana Holding Corp.		131,880		2,919,823
Dorman Products, Inc. *		25,899		1,376,014
Drew Industries, Inc.		18,518		898,493
Federal-Mogul Holdings Corp. *		28,561		473,827
Fox Factory Holding Corp. *		7,730		132,106
Fuel Systems Solutions, Inc. *		13,106		128,046
Gentex Corp.		122,833		3,552,330
Gentherm, Inc. *		29,088		1,196,389
Modine Manufacturing Co. *		31,441		480,104
Remy International, Inc.		12,523		297,922
Standard Motor Products, Inc.		17,702		734,987
Superior Industries International, Inc.		18,423		366,618
Tenneco, Inc. *		50,026		3,189,158
The Goodyear Tire & Rubber Co.		230,031		6,065,917
Thor Industries, Inc.		38,618		2,317,080
Visteon Corp. *		40,664		3,706,117
Winnebago Industries, Inc. *		23,682		586,366
				30,958,666
Banks 7.8%
1st Source Corp.		11,422		346,543
Ameris Bancorp *		19,384		407,258
Arrow Financial Corp.		11,456		296,481
Associated Banc-Corp.		135,689		2,337,921
Astoria Financial Corp.		70,841		905,348
BancFirst Corp.		5,105		303,288
BancorpSouth, Inc.		71,291		1,675,338
Bank Mutual Corp.		31,445		190,557
Bank of Hawaii Corp.		36,964		2,061,113
Bank of the Ozarks, Inc.		27,129		1,601,696
BankUnited, Inc.		79,597		2,590,086
Banner Corp.		16,122		615,377
BBCN Bancorp, Inc.		67,422		1,028,185
Beneficial Mutual Bancorp, Inc. *		27,219		367,729
Berkshire Hills Bancorp, Inc.		22,615		511,099
BNC Bancorp		25,524		432,887
BofI Holding, Inc. *		10,257		788,045
Boston Private Financial Holdings, Inc.		66,864		845,161
Bridge Capital Holdings *		8,443		191,149
Brookline Bancorp, Inc.		59,907		535,569
Bryn Mawr Bank Corp.		13,952		396,376
Camden National Corp.		6,452		237,434
Capital Bank Financial Corp., Class A *		42,235		1,024,621
Capitol Federal Financial, Inc.		116,270		1,406,867
Cardinal Financial Corp.		25,408		441,337
Cascade Bancorp *(a)		6,135		26,626
Cathay General Bancorp		63,297		1,521,027
Centerstate Banks, Inc.		22,901		243,209
Central Pacific Financial Corp.		25,684		489,023
Chemical Financial Corp.		24,814		713,154
City Holding Co.		13,546		585,323
City National Corp.		39,113		2,780,543
Clifton Bancorp, Inc.		7,639		91,821
CoBiz Financial, Inc.		26,850		278,434
Columbia Banking System, Inc.		43,619		1,080,443
Commerce Bancshares, Inc.		69,580		3,020,468
Community Bank System, Inc.		34,838		1,237,097
Community Trust Bancorp, Inc.		14,671		503,502
CVB Financial Corp.		77,635		1,131,918
Dime Community Bancshares, Inc.		24,851		375,747
Eagle Bancorp, Inc. *		19,402		620,282
East West Bancorp, Inc.		121,379		4,063,769
Enterprise Financial Services Corp.		12,955		226,324
Essent Group Ltd. *		15,146		302,163
EverBank Financial Corp.		71,948		1,370,609
F.N.B. Corp.		131,469		1,609,181
Federal Agricultural Mortgage Corp., Class C		9,426		292,394
Financial Institutions, Inc.		10,891		251,146
First Bancorp		15,163		274,147
First BanCorp *		84,608		412,041
First Busey Corp.		58,671		326,211
First Citizens BancShares, Inc., Class A		5,790		1,272,526
First Commonwealth Financial Corp.		81,506		700,952
First Community Bancshares, Inc.		11,715		171,039
First Connecticut Bancorp, Inc.		10,891		169,573
First Financial Bancorp		49,276		801,228

1

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
First Financial Bankshares, Inc. (a)		24,518		1,458,331
First Financial Corp.		7,066		227,101
First Financial Holdings, Inc.		19,569		1,152,027
First Horizon National Corp.		196,363		2,250,320
First Interstate Bancsystem, Inc.		17,929		460,237
First Merchants Corp.		30,207		599,307
First Midwest Bancorp, Inc.		66,228		1,059,648
First Niagara Financial Group, Inc.		301,553		2,596,371
FirstMerit Corp.		140,514		2,623,396
Flagstar Bancorp, Inc. *		16,517		280,954
Flushing Financial Corp.		23,236		462,164
Fulton Financial Corp.		164,989		1,971,619
German American Bancorp, Inc.		10,075		271,521
Glacier Bancorp, Inc.		64,077		1,683,303
Great Southern Bancorp, Inc.		7,874		230,629
Hancock Holding Co.		67,547		2,281,738
Hanmi Financial Corp.		25,895		551,822
Heartland Financial USA, Inc.		13,382		324,246
Home BancShares, Inc.		40,618		1,239,255
Home Loan Servicing Solutions Ltd.		54,996		1,226,411
HomeStreet, Inc.		12,767		228,785
HomeTrust Bancshares, Inc. *		17,556		265,798
Hudson Valley Holding Corp.		14,583		260,890
Iberiabank Corp.		24,595		1,536,204
Independent Bank Corp.		19,173		694,063
Independent Bank Group, Inc.		2,593		121,223
International Bancshares Corp.		48,557		1,170,224
Investors Bancorp, Inc.		261,882		2,828,326
Kearny Financial Corp. *		8,122		115,495
Ladder Capital Corp., Class A *		6,892		127,847
Lakeland Bancorp, Inc.		25,692		266,688
Lakeland Financial Corp.		11,394		412,235
MainSource Financial Group, Inc.		14,538		242,058
MB Financial, Inc.		48,210		1,293,956
Meridian Interstate Bancorp, Inc. *		7,444		193,544
Metro Bancorp, Inc. *		9,609		209,957
MGIC Investment Corp. *		281,848		2,390,071
National Bank Holdings Corp., Class A		32,880		643,462
National Bankshares, Inc. (a)		4,896		154,224
National Penn Bancshares, Inc.		93,055		956,605
Nationstar Mortgage Holdings, Inc. *(a)		17,726		619,701
NBT Bancorp, Inc.		37,115		843,253
NMI Holdings, Inc., Class A *		4,285		46,878
Northfield Bancorp, Inc.		49,576		644,984
Northwest Bancshares, Inc.		79,367		1,056,375
OceanFirst Financial Corp.		13,089		213,874
OFG Bancorp		38,390		693,323
Old National Bancorp		82,748		1,119,580
OmniAmerican Bancorp, Inc.		7,344		176,770
Oritani Financial Corp.		31,826		479,618
PacWest Bancorp		80,017		3,234,287
Park National Corp. (a)		10,949		817,343
Park Sterling Corp.		37,855		244,165
Pinnacle Financial Partners, Inc.		26,395		911,155
Popular, Inc. *		89,228		2,692,901
PrivateBancorp, Inc.		54,283		1,449,899
Prosperity Bancshares, Inc.		47,736		2,774,894
Provident Financial Services, Inc.		46,543		787,973
Radian Group, Inc.		144,792		2,087,901
Renasant Corp.		26,763		740,532
Republic Bancorp, Inc., Class A		10,138		235,708
S&T Bancorp, Inc.		24,517		595,028
Sandy Spring Bancorp, Inc.		20,243		479,961
Signature Bank *		39,453		4,569,446
Simmons First National Corp., Class A		13,095		532,050
Southside Bancshares, Inc.		14,484		373,977
Southwest Bancorp, Inc.		15,839		272,431
State Bank Financial Corp.		28,607		460,859
Sterling Bancorp		66,081		748,698
Stock Yards Bancorp, Inc.		12,279		350,688
Stonegate Mortgage Corp. *(a)		6,280		95,644
Sun Bancorp, Inc. *		53,532		201,816
Susquehanna Bancshares, Inc.		159,389		1,574,763
SVB Financial Group *		40,309		4,250,584
Synovus Financial Corp.		119,064		2,745,616
Taylor Capital Group, Inc. *		13,942		295,431
TCF Financial Corp.		140,262		2,228,763
Territorial Bancorp, Inc.		7,753		159,944
Texas Capital Bancshares, Inc. *		34,738		1,778,586
TFS Financial Corp. *		68,576		924,404
The Bancorp, Inc. *		28,493		447,340
The First of Long Island Corp.		6,628		255,642
Tompkins Financial Corp.		8,660		399,659
TowneBank		26,637		415,537
Trico Bancshares		10,122		231,693
TrustCo Bank Corp.		77,641		499,232
Trustmark Corp.		58,137		1,345,872
UMB Financial Corp.		31,457		1,736,426
Umpqua Holdings Corp.		137,056		2,271,018
Union Bankshares Corp.		40,378		1,008,239
United Bankshares, Inc.		53,005		1,606,051
United Community Banks, Inc. *		32,873		504,272
United Financial Bancorp, Inc.		38,383		517,019
Univest Corp. of Pennsylvania		14,366		299,100
Valley National Bancorp		169,559		1,643,027
ViewPoint Financial Group, Inc.		30,162		749,526
Walker & Dunlop, Inc. *		16,656		246,176
Washington Federal, Inc.		88,081		1,834,727
Washington Trust Bancorp, Inc.		12,483		427,043
Waterstone Financial, Inc.		6,275		67,771
Webster Financial Corp.		76,929		2,301,716
WesBanco, Inc.		24,767		729,140
Westamerica Bancorp		21,674		1,061,376
Western Alliance Bancorp *		64,180		1,468,438
Wilshire Bancorp, Inc.		52,895		533,711
Wintrust Financial Corp.		39,033		1,701,058
WSFS Financial Corp.		5,933		402,969
				154,755,021
Capital Goods 10.7%
A.O. Smith Corp.		64,375		3,178,837
AAON, Inc.		21,514		671,237
AAR Corp.		34,464		837,475
Aceto Corp.		23,023		401,291
Actuant Corp., Class A		62,410		2,217,427
Acuity Brands, Inc.		35,771		4,489,618
AECOM Technology Corp. *		82,369		2,647,340
Aegion Corp. *		33,522		803,522
Aerovironment, Inc. *		16,548		531,522

2 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Air Lease Corp.		75,572		3,118,101
Aircastle Ltd.		55,004		922,967
Alamo Group, Inc.		5,367		278,225
Albany International Corp., Class A		24,846		925,514
Allegion plc		75,005		3,929,512
Alliant Techsystems, Inc.		27,162		3,430,289
Altra Industrial Motion Corp.		22,516		769,822
Ameresco, Inc., Class A *		13,188		86,381
American Railcar Industries, Inc. (a)		7,986		521,486
American Science & Engineering, Inc.		6,295		422,395
American Woodmark Corp. *		8,969		247,275
Apogee Enterprises, Inc.		24,513		737,841
Applied Industrial Technologies, Inc.		34,245		1,630,747
Armstrong World Industries, Inc. *		35,282		1,872,416
Astec Industries, Inc.		15,989		638,121
Astronics Corp. *		12,280		673,681
AZZ, Inc.		21,582		960,615
Barnes Group, Inc.		38,853		1,452,325
Beacon Roofing Supply, Inc. *		42,681		1,472,495
Blount International, Inc. *		37,302		454,338
Briggs & Stratton Corp.		36,893		759,258
Builders FirstSource, Inc. *		40,454		290,460
CAI International, Inc. *		13,991		311,020
Capstone Turbine Corp. *(a)		263,121		397,313
Chart Industries, Inc. *		25,030		1,799,407
CIRCOR International, Inc.		13,738		1,047,660
CLARCOR, Inc.		41,555		2,432,214
Columbus McKinnon Corp.		15,351		432,284
Comfort Systems USA, Inc.		30,986		511,269
Continental Building Products, Inc. *		10,044		155,582
Crane Co.		40,324		2,988,412
Cubic Corp.		17,820		866,943
Curtiss-Wright Corp.		40,017		2,666,333
DigitalGlobe, Inc. *		58,029		1,761,760
Douglas Dynamics, Inc.		18,026		314,914
DXP Enterprises, Inc. *		8,668		603,033
Dycom Industries, Inc. *		27,777		826,366
EMCOR Group, Inc.		57,169		2,545,164
Encore Wire Corp.		15,654		760,784
EnerSys, Inc.		39,125		2,701,190
Engility Holdings, Inc. *		14,376		555,632
EnPro Industries, Inc. *		17,752		1,302,819
ESCO Technologies, Inc.		22,098		742,935
Esterline Technologies Corp. *		26,711		2,976,941
Exelis, Inc.		160,322		2,738,300
Federal Signal Corp.		53,291		731,153
Foster Wheeler AG		82,231		2,784,342
Franklin Electric Co., Inc.		33,772		1,293,468
GATX Corp.		38,002		2,502,432
GenCorp, Inc. *(a)		51,770		963,440
Generac Holdings, Inc.		56,872		2,768,529
General Cable Corp.		39,907		1,017,629
Gibraltar Industries, Inc. *		22,977		364,415
Global Brass & Copper Holdings, Inc.		18,004		290,224
Global Power Equipment Group, Inc.		11,965		197,781
Graco, Inc.		50,841		3,710,376
GrafTech International Ltd. *		100,034		1,045,355
Graham Corp.		8,397		250,231
Granite Construction, Inc.		30,491		1,083,040
Great Lakes Dredge & Dock Corp. *		44,208		336,865
Griffon Corp.		42,464		496,404
H&E Equipment Services, Inc. *		25,495		883,402
Harsco Corp.		68,693		1,853,337
HD Supply Holdings, Inc. *		80,135		2,105,146
HEICO Corp.		46,650		2,429,998
Hexcel Corp. *		83,129		3,412,445
Huntington Ingalls Industries, Inc.		40,739		4,066,974
Hyster-Yale Materials Handling, Inc.		9,619		808,766
Insteel Industries, Inc.		13,244		259,980
ITT Corp.		76,941		3,360,783
John Bean Technologies Corp.		20,776		594,194
Kadant, Inc.		10,075		381,843
Kaman Corp.		22,855		972,023
Kennametal, Inc.		66,330		2,987,503
Kratos Defense & Security Solutions, Inc. *		40,067		340,970
L.B. Foster Co., Class A		8,443		431,268
Layne Christensen Co. *		17,062		258,319
Lennox International, Inc.		37,878		3,216,600
Lindsay Corp. (a)		11,040		930,562
Lydall, Inc. *		13,910		383,777
Masonite International Corp. *		14,026		738,749
MasTec, Inc. *		50,363		1,813,068
Meritor, Inc. *		81,724		1,128,608
Moog, Inc., Class A *		38,668		2,786,416
MRC Global, Inc. *		86,572		2,492,408
Mueller Industries, Inc.		46,008		1,325,951
Mueller Water Products, Inc., Class A		126,806		1,068,975
MYR Group, Inc. *		18,593		465,197
National Presto Industries, Inc. (a)		3,222		226,797
Navistar International Corp. *		57,286		1,963,191
NCI Building Systems, Inc. *		21,163		354,480
Nortek, Inc. *		13,339		1,120,743
Orbital Sciences Corp. *		51,840		1,357,171
PGT, Inc. *		32,318		278,258
Pike Corp. *		19,562		174,689
Ply Gem Holdings, Inc. *		14,820		174,283
Polypore International, Inc. *(a)		34,137		1,517,390
Powell Industries, Inc.		7,948		491,425
Power Solutions International, Inc. *		4,329		337,619
Preformed Line Products Co.		2,508		131,494
Primoris Services Corp.		29,825		864,030
Proto Labs, Inc. *		17,169		1,132,811
Quanex Building Products Corp.		34,135		607,603
Raven Industries, Inc.		29,209		915,702
RBC Bearings, Inc.		18,802		1,127,556
Regal-Beloit Corp.		37,142		2,835,049
Rexnord Corp. *		45,296		1,158,219
Rush Enterprises, Inc., Class A *		27,488		912,052
Simpson Manufacturing Co., Inc.		34,788		1,157,049
SolarCity Corp. *(a)		39,875		2,093,437
Spirit AeroSystems Holdings, Inc., Class A *		86,214		2,797,644
Standex International Corp.		10,324		762,324

3

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Stock Building Supply Holdings, Inc. *		12,285		235,135
Sun Hydraulics Corp.		19,788		730,573
TAL International Group, Inc. *		29,180		1,278,668
Taser International, Inc. *		42,367		562,210
Teledyne Technologies, Inc. *		30,886		2,927,066
Tennant Co.		16,120		1,030,229
Terex Corp.		92,570		3,560,242
Textainer Group Holdings Ltd. (a)		13,856		536,781
The Babcock & Wilcox Co.		94,513		3,054,660
The ExOne Co. *(a)		8,538		253,322
The Gorman-Rupp Co.		16,668		528,542
The Greenbrier Cos., Inc. *		20,115		1,116,383
The KEYW Holding Corp. *(a)		21,123		223,904
The Manitowoc Co., Inc.		113,244		3,063,250
The Middleby Corp. *		15,965		3,812,761
The Toro Co.		47,186		3,047,272
Thermon Group Holdings, Inc. *		26,763		630,269
Titan International, Inc.		44,331		700,873
Titan Machinery, Inc. *(a)		11,579		202,748
Trex Co., Inc. *		23,558		728,178
TriMas Corp. *		35,350		1,241,139
Trinity Industries, Inc.		63,976		5,535,843
Triumph Group, Inc.		44,311		3,070,752
Tutor Perini Corp. *		31,211		955,993
Twin Disc, Inc.		7,343		238,280
Universal Forest Products, Inc.		16,837		817,436
URS Corp.		60,342		2,715,390
USG Corp. *		79,408		2,380,652
Wabash National Corp. *		57,951		793,349
Watsco, Inc.		22,056		2,219,495
Watts Water Technologies, Inc., Class A		23,037		1,284,543
WESCO International, Inc. *		36,464		3,114,755
Woodward, Inc.		51,475		2,300,932
				213,526,395
Commercial & Professional Services 3.0%
ABM Industries, Inc.		44,563		1,215,233
Acacia Research Corp. (a)		42,335		683,287
ACCO Brands Corp. *		80,803		486,434
Barrett Business Services, Inc.		5,712		269,378
Brady Corp., Class A		40,733		1,105,086
CBIZ, Inc. *		33,950		289,594
CDI Corp.		10,278		143,173
Clean Harbors, Inc. *		45,528		2,782,216
Corporate Resource Services, Inc. *(a)		12,656		30,754
Covanta Holding Corp.		111,228		2,123,343
Deluxe Corp.		41,306		2,316,854
Ennis, Inc.		26,005		393,976
Exponent, Inc.		11,041		780,930
Franklin Covey Co. *		11,607		252,452
FTI Consulting, Inc. *		34,739		1,121,028
G&K Services, Inc., Class A		16,478		853,725
GP Strategies Corp. *		16,886		407,797
Healthcare Services Group, Inc.		60,633		1,804,438
Heidrick & Struggles International, Inc.		12,652		236,339
Heritage-Crystal Clean, Inc. *		7,871		131,367
Herman Miller, Inc.		51,424		1,608,028
HNI Corp.		36,720		1,374,430
Huron Consulting Group, Inc. *		18,824		1,277,773
ICF International, Inc. *		15,638		581,734
InnerWorkings, Inc. *		29,219		220,019
Insperity, Inc.		19,585		627,112
Interface, Inc.		49,942		910,942
KAR Auction Services, Inc.		116,745		3,565,392
Kelly Services, Inc., Class A		23,255		413,009
Kforce, Inc.		24,513		540,021
Kimball International, Inc., Class B		25,901		417,783
Knoll, Inc.		40,333		707,441
Korn/Ferry International *		42,631		1,294,703
McGrath RentCorp		20,811		713,401
Mistras Group, Inc. *		11,964		272,301
Mobile Mini, Inc.		34,588		1,506,307
MSA Safety, Inc.		26,961		1,473,688
Multi-Color Corp.		10,958		384,955
Navigant Consulting, Inc. *		43,231		727,578
NL Industries, Inc.		7,665		67,605
On Assignment, Inc. *		39,600		1,395,900
Pendrell Corp. *		74,205		119,470
Performant Financial Corp. *		23,206		220,225
Pitney Bowes, Inc.		171,810		4,747,110
Quad/Graphics, Inc.		22,598		474,106
R.R. Donnelley & Sons Co.		166,315		2,634,430
Resources Connection, Inc.		33,030		409,572
RPX Corp. *		31,490		511,712
Schawk, Inc.		7,379		149,794
SP Plus Corp. *		13,514		320,552
Steelcase, Inc., Class A		46,456		761,414
Team, Inc. *		14,637		613,583
Tetra Tech, Inc.		56,553		1,504,875
The Advisory Board Co. *		30,492		1,475,508
The Brink’s Co.		42,215		1,127,140
The Corporate Executive Board Co.		27,455		1,871,607
TrueBlue, Inc. *		35,254		959,261
UniFirst Corp.		12,939		1,280,314
United Stationers, Inc.		32,381		1,289,735
US Ecology, Inc.		15,612		771,233
Viad Corp.		16,570		380,116
WageWorks, Inc. *		24,714		1,000,423
West Corp.		17,344		464,819
				60,594,525
Consumer Durables & Apparel 2.5%
Arctic Cat, Inc.		11,777		439,282
Beazer Homes USA, Inc. *		21,459		419,953
Black Diamond, Inc. *		21,131		227,792
Brunswick Corp.		77,104		3,323,182
Callaway Golf Co.		57,267		459,281
Cavco Industries, Inc. *		5,453		418,627
Columbia Sportswear Co.		9,903		827,594
Crocs, Inc. *		76,869		1,147,654
Deckers Outdoor Corp. *		29,309		2,265,293
Ethan Allen Interiors, Inc.		21,782		510,570
G-III Apparel Group Ltd. *		13,952		1,022,961
Harman International Industries, Inc.		56,787		5,964,339
Helen of Troy Ltd. *		22,277		1,291,175

4 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Hovnanian Enterprises, Inc., Class A *(a)		86,896		407,542
Iconix Brand Group, Inc. *		40,593		1,702,470
Installed Building Products, Inc. *		6,504		88,194
iRobot Corp. *(a)		23,603		833,894
Kate Spade & Co. *		105,518		3,841,910
KB Home (a)		70,411		1,160,373
La-Z-Boy, Inc.		42,799		1,045,152
LeapFrog Enterprises, Inc. *		49,523		343,194
LGI Homes, Inc. *		8,014		127,903
Libbey, Inc. *		17,514		472,002
M.D.C Holdings, Inc.		33,972		971,939
M/I Homes, Inc. *		21,024		479,558
Marine Products Corp.		10,291		80,064
Meritage Homes Corp. *		30,237		1,212,806
Movado Group, Inc.		15,787		604,484
NACCO Industries, Inc., Class A		4,902		265,934
Oxford Industries, Inc.		11,707		748,429
Perry Ellis International, Inc. *		10,295		174,294
Quiksilver, Inc. *		105,319		625,595
Skechers U.S.A., Inc., Class A *		32,224		1,433,968
Smith & Wesson Holding Corp. *(a)		46,781		742,882
Standard Pacific Corp. *		120,921		970,996
Steven Madden Ltd. *		48,571		1,547,472
Sturm Ruger & Co., Inc. (a)		16,499		1,000,169
Taylor Morrison Home Corp., Class A *		23,159		493,287
Tempur Sealy International, Inc. *		50,284		2,763,609
The Ryland Group, Inc.		37,881		1,428,114
TRI Pointe Homes, Inc. *(a)		9,977		152,149
Tumi Holdings, Inc. *		42,314		782,809
Unifi, Inc. *		13,339		310,532
Universal Electronics, Inc. *		12,841		584,009
Vera Bradley, Inc. *		19,160		516,362
Vince Holding Corp. *		7,692		213,761
WCI Communities, Inc. *		6,164		114,157
William Lyon Homes, Class A *		14,098		370,636
Wolverine World Wide, Inc.		85,506		2,212,040
				49,140,392
Consumer Services 3.8%
American Public Education, Inc. *		14,914		527,061
Apollo Education Group, Inc. *		84,566		2,266,369
Ascent Capital Group, Inc., Class A *		10,276		634,851
Bally Technologies, Inc. *		31,888		1,881,392
Biglari Holdings, Inc. *		1,335		563,076
BJ’s Restaurants, Inc. *		20,150		636,539
Bloomin’ Brands, Inc. *		62,602		1,304,626
Bob Evans Farms, Inc.		20,617		920,961
Boyd Gaming Corp. *		64,235		703,373
Bravo Brio Restaurant Group, Inc. *		12,958		204,736
Bridgepoint Education, Inc. *		7,077		91,930
Bright Horizons Family Solutions, Inc. *		23,902		931,700
Brinker International, Inc.		54,828		2,722,210
Buffalo Wild Wings, Inc. *		15,432		2,230,078
Caesars Entertainment Corp. *(a)		30,910		563,489
Capella Education Co.		9,172		525,005
Carriage Services, Inc.		11,757		215,976
Chegg, Inc. *(a)		9,913		55,216
Choice Hotels International, Inc.		29,304		1,318,973
Churchill Downs, Inc.		9,850		848,775
Chuy’s Holdings, Inc. *		13,052		426,409
ClubCorp Holdings, Inc.		13,497		237,412
Cracker Barrel Old Country Store, Inc.		19,674		1,978,221
Del Frisco’s Restaurant Group, Inc. *		20,042		541,335
Denny’s Corp. *		76,378		496,457
DeVry Education Group, Inc.		46,196		1,950,857
Diamond Resorts International, Inc. *		13,561		260,914
DineEquity, Inc.		14,155		1,123,766
Domino’s Pizza, Inc.		46,303		3,354,652
Education Management Corp. *(a)		14,998		28,046
Fiesta Restaurant Group, Inc. *		20,371		820,340
Graham Holdings Co., Class B		3,663		2,479,631
Grand Canyon Education, Inc. *		38,481		1,695,088
Hillenbrand, Inc.		53,489		1,620,182
Houghton Mifflin Harcourt Co. *		13,788		251,217
Ignite Restaurant Group, Inc. *		5,417		83,151
International Speedway Corp., Class A		23,122		718,863
Interval Leisure Group, Inc.		33,484		686,087
Intrawest Resorts Holdings, Inc. *		13,296		151,707
Isle of Capri Casinos, Inc. *		18,119		123,572
ITT Educational Services, Inc. *(a)		14,778		254,477
Jack in the Box, Inc.		34,972		2,018,934
K12, Inc. *		23,082		529,963
Krispy Kreme Doughnuts, Inc. *		57,619		1,085,542
Life Time Fitness, Inc. *		29,775		1,584,030
LifeLock, Inc. *		55,872		626,884
Marriott Vacations Worldwide Corp. *		26,145		1,481,114
Matthews International Corp., Class A		21,983		901,303
Multimedia Games Holding Co., Inc. *		22,777		654,839
Noodles & Co. *(a)		8,916		296,457
Orient-Express Hotels Ltd., Class A *		77,319		1,016,745
Papa John’s International, Inc.		27,810		1,206,120
Pinnacle Entertainment, Inc. *		51,274		1,265,442
Popeyes Louisiana Kitchen, Inc. *		20,150		864,838
Potbelly Corp. *(a)		6,587		104,141
Red Robin Gourmet Burgers, Inc. *		11,041		795,835
Regis Corp.		37,070		510,083
Ruby Tuesday, Inc. *		40,729		320,537
Ruth’s Hospitality Group, Inc.		33,913		415,434
Scientific Games Corp., Class A *		43,889		392,807
SeaWorld Entertainment, Inc.		56,302		1,718,337
Service Corp. International		180,565		3,614,911
Six Flags Entertainment Corp.		79,936		3,234,211
Sonic Corp. *		44,663		928,990
Sotheby’s		58,185		2,297,144
Speedway Motorsports, Inc.		8,396		154,906
Steiner Leisure Ltd. *		10,056		404,050
Strayer Education, Inc. *		8,932		488,045
Texas Roadhouse, Inc.		50,558		1,278,106
The Cheesecake Factory, Inc.		38,510		1,766,454

5

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
The Marcus Corp.		15,903		267,170
The Wendy’s Co.		221,006		1,812,249
Town Sports International Holdings, Inc.		16,370		99,366
Universal Technical Institute, Inc.		22,395		254,183
Vail Resorts, Inc.		29,384		2,047,771
Weight Watchers International, Inc. (a)		23,231		483,902
				75,349,563
Diversified Financials 2.5%
Arlington Asset Investment Corp., Class A		12,389		342,556
Artisan Partners Asset Management, Inc., Class A		27,299		1,570,238
BGC Partners, Inc., Class A		141,827		992,789
Cash America International, Inc.		24,464		1,162,285
CBOE Holdings, Inc.		72,354		3,666,901
Cohen & Steers, Inc. (a)		16,172		654,804
Cowen Group, Inc., Class A *		91,356		377,300
Credit Acceptance Corp. *		7,787		1,016,982
DFC Global Corp. *		32,943		308,676
Diamond Hill Investment Group, Inc.		2,132		260,125
E*TRADE Financial Corp. *		244,521		4,980,893
Encore Capital Group, Inc. *		19,334		836,969
Evercore Partners, Inc., Class A		29,082		1,600,673
Ezcorp, Inc., Class A *		47,595		581,611
Federated Investors, Inc., Class B		77,688		2,196,240
Financial Engines, Inc.		42,268		1,720,308
First Cash Financial Services, Inc. *		22,937		1,204,651
FXCM, Inc., Class A (a)		30,366		406,297
GAMCO Investors, Inc., Class A		3,529		268,557
GFI Group, Inc.		55,966		189,165
Green Dot Corp., Class A *		17,944		329,631
Greenhill & Co., Inc.		20,956		1,041,932
HFF, Inc., Class A		26,890		869,085
ICG Group, Inc. *		29,915		577,958
Interactive Brokers Group, Inc., Class A		42,474		977,751
INTL FCStone, Inc. *		11,644		214,482
Investment Technology Group, Inc. *		31,212		597,086
Janus Capital Group, Inc.		118,852		1,388,191
JGWPT Holdings, Inc., Class A *		8,162		87,007
KCG Holdings, Inc., Class A *		80,375		963,696
Ladenburg Thalmann Financial Services, Inc. *		97,660		295,910
MarketAxess Holdings, Inc.		31,990		1,706,666
Marlin Business Services Corp.		8,443		175,868
Nelnet, Inc., Class A		15,354		632,124
NewStar Financial, Inc. *		18,582		250,114
PHH Corp. *		45,762		1,165,558
PICO Holdings, Inc. *		20,349		471,893
Piper Jaffray Cos. *		14,654		645,216
Portfolio Recovery Associates, Inc. *		43,121		2,405,721
Pzena Investment Management, Inc., Class A		9,392		96,456
RCS Capital Corp., Class A (a)		2,030		52,780
Safeguard Scientifics, Inc. *		18,518		353,323
Springleaf Holdings, Inc. *		16,500		387,255
Stifel Financial Corp. *		50,458		2,280,702
Virtus Investment Partners, Inc. *		5,794		1,068,935
Waddell & Reed Financial, Inc., Class A		70,751		4,271,945
Walter Investment Management Corp. *(a)		30,904		893,435
Westwood Holdings Group, Inc.		6,156		361,727
WisdomTree Investments, Inc. *		84,725		880,293
World Acceptance Corp. *(a)		6,247		493,451
				50,274,211
Energy 6.2%
Alon USA Energy, Inc.		20,326		303,874
Alpha Natural Resources, Inc. *(a)		178,256		602,505
Apco Oil & Gas International, Inc. *		14,682		206,429
Approach Resources, Inc. *		30,225		589,992
Arch Coal, Inc. (a)		171,813		611,654
Athlon Energy, Inc. *		41,530		1,804,894
Atwood Oceanics, Inc. *		49,825		2,458,864
Basic Energy Services, Inc. *		20,883		568,018
Bill Barrett Corp. *		43,026		1,075,650
Bonanza Creek Energy, Inc. *		24,391		1,307,845
BPZ Resources, Inc. *(a)		90,440		276,746
Bristow Group, Inc.		30,909		2,348,466
C&J Energy Services, Inc. *		37,852		1,158,650
CARBO Ceramics, Inc.		16,498		2,269,630
Carrizo Oil & Gas, Inc. *		34,778		1,998,344
CHC Group Ltd. *		13,784		96,902
Clayton Williams Energy, Inc. *		5,016		624,943
Clean Energy Fuels Corp. *(a)		56,503		626,053
Cloud Peak Energy, Inc. *		52,706		973,480
Comstock Resources, Inc.		37,826		1,028,489
Contango Oil & Gas Co. *		11,547		496,406
Delek US Holdings, Inc.		41,261		1,281,979
Diamondback Energy, Inc. *		30,149		2,275,646
Dril-Quip, Inc. *		34,031		3,478,649
Energen Corp.		60,780		5,189,396
Energy XXI Bermuda Ltd.		58,755		1,260,295
EP Energy Corp., Class A *		28,756		576,845
EPL Oil & Gas, Inc. *		27,661		1,048,628
Era Group, Inc. *		15,291		446,803
Evolution Petroleum Corp.		21,566		242,186
EXCO Resources, Inc. (a)		142,599		750,071
Exterran Holdings, Inc.		49,800		2,078,652
Forest Oil Corp. *		61,923		152,331
Forum Energy Technologies, Inc. *		53,375		1,763,510
Frank’s International N.V.		23,247		554,208
Geospace Technologies Corp. *(a)		10,891		552,392
Goodrich Petroleum Corp. *(a)		28,394		823,426
Green Plains, Inc.		22,642		661,599
Gulf Island Fabrication, Inc.		10,366		204,314
Gulfmark Offshore, Inc., Class A		21,782		1,010,903
Gulfport Energy Corp. *		70,390		4,331,097
Halcon Resources Corp. *(a)		212,822		1,328,009
Helix Energy Solutions Group, Inc. *		85,312		1,994,595
Hercules Offshore, Inc. *		138,551		629,022
Hornbeck Offshore Services, Inc. *		27,827		1,258,893
ION Geophysical Corp. *		97,878		408,151

6 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Isramco, Inc. *		911		115,879
Jones Energy, Inc., Class A *		10,962		192,054
Key Energy Services, Inc. *		109,900		884,695
KiOR, Inc., Class A *(a)		7,878		3,443
Kodiak Oil & Gas Corp. *		217,087		2,763,517
Kosmos Energy Ltd. *		86,208		903,460
Laredo Petroleum, Inc. *		50,454		1,396,062
Magnum Hunter Resources Corp. *		135,059		1,034,552
Matador Resources Co. *		45,421		1,130,074
Matrix Service Co. *		22,960		749,644
McDermott International, Inc. *(a)		201,466		1,462,643
Midstates Petroleum Co., Inc. *(a)		30,522		169,702
Natural Gas Services Group, Inc. *		10,075		302,653
Newfield Exploration Co. *		115,466		4,212,200
Newpark Resources, Inc. *		74,721		841,358
Northern Oil & Gas, Inc. *(a)		49,842		760,090
Nuverra Environmental Solutions, Inc. *(a)		15,317		260,695
Parker Drilling Co. *		107,897		698,094
Patterson-UTI Energy, Inc.		121,468		4,019,376
PBF Energy, Inc., Class A		52,479		1,674,605
PDC Energy, Inc. *		30,177		1,937,062
Penn Virginia Corp. *		46,878		711,608
PetroQuest Energy, Inc. *		44,905		274,819
PHI, Inc. *		10,988		491,603
Pioneer Energy Services Corp. *		53,193		845,769
Quicksilver Resources, Inc. *(a)		96,509		232,587
Resolute Energy Corp. *		51,946		432,191
Rex Energy Corp. *		36,980		735,162
Rice Energy, Inc. *		37,412		1,187,083
RigNet, Inc. *		7,344		348,252
Rosetta Resources, Inc. *		52,009		2,451,184
RPC, Inc.		50,675		1,119,411
RSP Permian, Inc. *		17,036		459,972
Sanchez Energy Corp. *		33,181		1,142,422
SandRidge Energy, Inc. *(a)		311,857		2,080,086
SEACOR Holdings, Inc. *		16,320		1,306,906
SemGroup Corp., Class A		34,844		2,367,301
Solazyme, Inc. *(a)		43,917		438,731
Stone Energy Corp. *		43,231		1,919,024
Swift Energy Co. *(a)		34,809		377,678
Synergy Resources Corp. *		48,742		572,231
Targa Resources Corp.		23,675		2,721,678
Teekay Corp.		30,755		1,779,177
Tesco Corp.		25,294		538,762
TETRA Technologies, Inc. *		67,237		775,243
Tidewater, Inc.		42,115		2,195,034
TransAtlantic Petroleum Ltd. *(a)		12,338		108,204
Triangle Petroleum Corp. *		58,151		584,418
Ultra Petroleum Corp. *		127,948		3,457,155
Unit Corp. *		35,760		2,271,475
VAALCO Energy, Inc. *		48,494		315,211
Vantage Drilling Co. *		158,418		264,558
W&T Offshore, Inc.		28,948		424,667
Western Refining, Inc.		44,584		1,828,836
Willbros Group, Inc. *		28,689		348,858
World Fuel Services Corp.		56,469		2,617,903
WPX Energy, Inc. *		170,824		3,618,052
				124,584,543
Food & Staples Retailing 1.0%
Casey’s General Stores, Inc.		31,452		2,240,326
Fairway Group Holdings Corp. *(a)		11,955		73,643
Ingles Markets, Inc., Class A		8,993		235,796
Natural Grocers by Vitamin Cottage, Inc. *		7,039		146,341
PriceSmart, Inc.		14,052		1,287,866
Rite Aid Corp. *		721,278		6,029,884
Roundy’s, Inc.		21,908		117,646
SpartanNash Co.		30,628		743,648
SUPERVALU, Inc. *		166,835		1,246,257
Susser Holdings Corp. *		14,971		1,187,350
The Andersons, Inc.		22,855		1,164,234
The Chefs’ Warehouse, Inc. *		15,443		285,387
The Fresh Market, Inc. *		34,558		1,059,203
The Pantry, Inc. *		19,064		321,991
United Natural Foods, Inc. *		41,983		2,830,074
Village Super Market, Inc., Class A		3,614		88,687
Weis Markets, Inc.		9,159		433,862
				19,492,195
Food, Beverage & Tobacco 1.8%
Alico, Inc.		2,451		91,888
Alliance One International, Inc. *		44,711		110,883
Annie’s, Inc. *		12,744		416,984
B&G Foods, Inc.		45,029		1,542,694
Boulder Brands, Inc. *		47,102		639,174
Cal-Maine Foods, Inc.		12,523		873,604
Calavo Growers, Inc.		10,738		335,777
Chiquita Brands International, Inc. *		38,050		390,393
Coca-Cola Bottling Co. Consolidated		3,563		268,151
Darling Ingredients, Inc. *		137,547		2,749,564
Dean Foods Co.		80,041		1,391,113
Diamond Foods, Inc. *		17,676		564,748
Fresh Del Monte Produce, Inc.		33,056		957,632
J&J Snack Foods Corp.		11,835		1,108,584
Lancaster Colony Corp.		15,683		1,400,335
Limoneira Co. (a)		7,807		182,684
National Beverage Corp. *		9,615		178,070
Pilgrim’s Pride Corp. *		49,784		1,266,505
Pinnacle Foods, Inc.		45,347		1,419,815
Post Holdings, Inc. *		31,645		1,581,301
Sanderson Farms, Inc.		16,886		1,562,124
Seaboard Corp. *		270		727,609
Seneca Foods Corp., Class A *		6,325		193,039
Snyder’s-Lance, Inc.		42,265		1,148,763
The Boston Beer Co., Inc., Class A *		7,732		1,657,818
The Hain Celestial Group, Inc. *		40,866		3,707,363
The WhiteWave Foods Co., Class A *		147,391		4,641,343
Tootsie Roll Industries, Inc. (a)		18,387		535,062
TreeHouse Foods, Inc. *		29,721		2,227,589
Universal Corp.		18,624		997,315
Vector Group Ltd. (a)		52,104		1,089,495
				35,957,419

7

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Health Care Equipment & Services 5.4%
Abaxis, Inc.		18,518		765,164
ABIOMED, Inc. *(a)		30,237		689,404
Acadia Healthcare Co., Inc. *		28,449		1,213,065
Accuray, Inc. *(a)		53,531		472,143
Air Methods Corp. *		29,107		1,402,957
Alere, Inc. *		63,198		2,260,592
Align Technology, Inc. *		59,787		3,264,968
Allscripts Healthcare Solutions, Inc. *		134,955		1,989,237
Amedisys, Inc. *		26,830		390,376
AMN Healthcare Services, Inc. *		40,101		449,131
Amsurg Corp. *		27,262		1,234,423
Analogic Corp.		10,325		705,404
AngioDynamics, Inc. *		21,476		307,751
Antares Pharma, Inc. *(a)		99,294		292,917
athenahealth, Inc. *		30,869		3,917,585
Atrion Corp.		1,144		360,818
Bio-Reference Labs, Inc. *(a)		20,200		540,552
BioScrip, Inc. *		52,560		412,596
Brookdale Senior Living, Inc. *		86,230		2,868,010
Cantel Medical Corp.		28,774		999,896
Capital Senior Living Corp. *		22,415		532,132
Cardiovascular Systems, Inc. *		20,907		586,441
Centene Corp. *		48,285		3,598,198
Chemed Corp. (a)		14,060		1,238,405
Computer Programs & Systems, Inc.		9,209		585,508
CONMED Corp.		23,271		1,044,868
Corvel Corp. *		10,758		507,993
Cyberonics, Inc. *		20,194		1,227,795
Cynosure, Inc., Class A *		17,102		372,482
DexCom, Inc. *		56,503		1,907,541
Emeritus Corp. *		33,121		1,036,025
Endologix, Inc. *		47,749		623,602
Exactech, Inc. *		7,344		171,042
ExamWorks Group, Inc. *		22,672		671,545
Five Star Quality Care, Inc. *		32,592		172,086
GenMark Diagnostics, Inc. *		30,874		339,923
Gentiva Health Services, Inc. *		25,822		351,954
Globus Medical, Inc., Class A *		46,623		1,127,344
Greatbatch, Inc. *		20,147		941,066
Haemonetics Corp. *		42,388		1,443,735
Hanger, Inc. *		29,725		903,045
Health Net, Inc. *		67,546		2,700,489
HealthSouth Corp.		74,309		2,609,732
HealthStream, Inc. *		17,788		457,685
Healthways, Inc. *		27,847		479,804
HeartWare International, Inc. *		12,194		1,099,533
Hill-Rom Holdings, Inc.		49,894		1,980,293
HMS Holdings Corp. *		74,771		1,405,695
ICU Medical, Inc. *		10,839		651,099
Insulet Corp. *		46,761		1,712,855
Integra LifeSciences Holdings Corp. *		19,709		885,920
Invacare Corp.		23,086		380,919
IPC The Hospitalist Co., Inc. *		14,916		651,083
Kindred Healthcare, Inc.		44,918		1,114,865
Landauer, Inc.		8,486		402,067
LDR Holding Corp. *		4,302		101,484
LHC Group, Inc. *		11,767		239,694
LifePoint Hospitals, Inc. *		36,312		2,223,747
Magellan Health Services, Inc. *		22,881		1,393,224
Masimo Corp. *		44,000		1,084,160
MedAssets, Inc. *		52,099		1,220,159
Medidata Solutions, Inc. *		42,664		1,649,817
Meridian Bioscience, Inc.		35,970		734,148
Merit Medical Systems, Inc. *		38,133		535,006
Molina Healthcare, Inc. *		24,913		1,073,501
MWI Veterinary Supply, Inc. *		10,892		1,519,543
National Healthcare Corp.		6,130		331,020
National Research Corp., Class A *		10,182		153,239
Natus Medical, Inc. *		23,658		583,170
Neogen Corp. *		30,225		1,142,203
NuVasive, Inc. *		37,652		1,255,318
NxStage Medical, Inc. *		46,102		632,980
Omnicell, Inc. *		29,951		794,600
OraSure Technologies, Inc. *		47,011		297,110
Orthofix International N.V. *		15,287		484,445
Owens & Minor, Inc.		53,839		1,867,137
PharMerica Corp. *		25,190		683,657
PhotoMedex, Inc. *(a)		8,027		100,578
Quality Systems, Inc.		36,071		561,625
Quidel Corp. *		26,145		593,491
Select Medical Holdings Corp.		50,560		765,984
Spectranetics Corp. *		33,598		720,341
STERIS Corp.		48,544		2,598,075
Surgical Care Affiliates, Inc. *		7,469		215,705
SurModics, Inc. *		11,151		238,743
Symmetry Medical, Inc. *		30,251		266,814
Tandem Diabetes Care, Inc. *		6,621		107,525
Team Health Holdings, Inc. *		55,335		2,809,358
TearLab Corp. *(a)		22,535		112,450
Teleflex, Inc.		35,037		3,736,346
The Ensign Group, Inc.		15,764		739,332
The Providence Service Corp. *		10,075		405,015
Thoratec Corp. *		46,666		1,545,578
Tornier NV *		29,708		639,019
Triple-S Management Corp., Class B *		18,412		325,524
Universal American Corp.		28,208		221,715
US Physical Therapy, Inc.		10,891		365,175
Vascular Solutions, Inc. *		12,523		256,471
VCA Antech, Inc. *		75,487		2,540,138
Vocera Communications, Inc. *		17,020		219,898
Volcano Corp. *		47,028		816,406
WellCare Health Plans, Inc. *		36,992		2,865,030
West Pharmaceutical Services, Inc.		59,450		2,502,250
Wright Medical Group, Inc. *		40,931		1,244,302
				107,964,008
Household & Personal Products 0.4%
Central Garden & Pet Co., Class A *		33,061		263,166
Elizabeth Arden, Inc. *		22,399		607,685
Harbinger Group, Inc. *		28,198		333,864
Inter Parfums, Inc.		14,754		440,702
Lifevantage Corp. *(a)		91,367		120,604
Medifast, Inc. *		10,827		340,293
Nature’s Sunshine Products, Inc.		8,443		124,365
Nu Skin Enterprises, Inc., Class A		48,738		3,598,814
Revlon, Inc., Class A *		9,692		305,492

8 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Rock Creek Pharmaceuticals, Inc. *		119,134		79,820
Spectrum Brands Holdings, Inc.		18,103		1,409,681
Synutra International, Inc. *(a)		4,668		26,187
USANA Health Sciences, Inc. *		5,420		389,752
WD-40 Co.		11,535		832,481
				8,872,906
Insurance 3.3%
Allied World Assurance Co. Holdings AG		85,256		3,197,100
Ambac Financial Group, Inc. *		37,535		1,057,736
American Equity Investment Life Holding Co.		59,125		1,331,495
American National Insurance Co.		3,880		444,260
AMERISAFE, Inc.		15,554		598,985
AmTrust Financial Services, Inc. (a)		25,705		1,097,603
Argo Group International Holdings Ltd.		21,266		1,030,338
Aspen Insurance Holdings Ltd.		54,420		2,500,599
Assurant, Inc.		61,232		4,152,142
Assured Guaranty Ltd.		136,421		3,331,401
Baldwin & Lyons, Inc., Class B		7,344		187,199
Citizens, Inc. *		35,679		237,979
CNO Financial Group, Inc.		188,770		3,044,860
Crawford & Co., Class B		19,138		187,552
Donegal Group, Inc., Class A		5,872		85,672
eHealth, Inc. *		15,591		574,061
EMC Insurance Group, Inc.		3,357		103,664
Employers Holdings, Inc.		26,195		550,881
Endurance Specialty Holdings Ltd.		36,276		1,876,195
Enstar Group Ltd. *		7,830		1,103,247
FBL Financial Group, Inc., Class A		8,993		393,084
Fidelity & Guaranty Life		8,373		179,182
First American Financial Corp.		87,524		2,452,422
Global Indemnity plc *		8,483		224,291
Greenlight Capital Re Ltd., Class A *		25,379		804,261
Hilltop Holdings, Inc. *		54,332		1,127,389
Horace Mann Educators Corp.		33,772		986,480
Infinity Property & Casualty Corp.		8,899		569,625
Kansas City Life Insurance Co.		2,578		111,370
Kemper Corp.		44,533		1,556,428
Maiden Holdings Ltd.		43,647		534,239
MBIA, Inc. *		118,636		1,395,159
Meadowbrook Insurance Group, Inc.		38,360		261,232
Mercury General Corp.		30,858		1,454,955
Montpelier Re Holdings Ltd.		36,203		1,138,222
National Interstate Corp.		14,802		418,749
National Western Life Insurance Co., Class A		1,532		374,896
Old Republic International Corp.		205,799		3,519,163
OneBeacon Insurance Group Ltd., Class A		17,036		260,480
Platinum Underwriters Holdings Ltd.		23,261		1,492,193
Primerica, Inc.		46,563		2,097,198
ProAssurance Corp.		50,592		2,299,406
Protective Life Corp.		65,204		3,410,169
RLI Corp.		27,178		1,212,139
Safety Insurance Group, Inc.		11,240		579,759
Selective Insurance Group, Inc.		45,175		1,073,810
StanCorp Financial Group, Inc.		35,746		2,148,335
State Auto Financial Corp.		11,509		248,709
Stewart Information Services Corp.		18,858		604,965
Symetra Financial Corp.		80,688		1,682,345
The Hanover Insurance Group, Inc.		35,927		2,157,416
The Navigators Group, Inc. *		7,883		491,190
Third Point Reinsurance Ltd. *		17,189		262,132
Tower Group International Ltd.		11,296		24,286
United Fire Group, Inc.		18,618		516,649
				64,755,297
Materials 5.8%
A. Schulman, Inc.		25,379		893,595
A.M. Castle & Co. *		12,626		152,396
Advanced Emissions Solutions, Inc. *		16,886		395,301
AEP Industries, Inc. *		3,264		104,024
AK Steel Holding Corp. *(a)		103,768		635,060
Allegheny Technologies, Inc.		91,876		3,773,347
Allied Nevada Gold Corp. *(a)		87,986		242,841
American Vanguard Corp.		21,615		328,980
AptarGroup, Inc.		53,763		3,580,078
Axiall Corp.		59,498		2,749,403
Balchem Corp.		26,095		1,438,878
Berry Plastics Group, Inc. *		74,790		1,765,792
Boise Cascade Co. *		26,638		696,850
Cabot Corp.		50,559		2,859,111
Calgon Carbon Corp. *		46,578		999,098
Carpenter Technology Corp.		43,049		2,690,132
Century Aluminum Co. *		43,493		593,679
Chemtura Corp. *		83,214		2,078,686
Clearwater Paper Corp. *		18,670		1,158,847
Cliffs Natural Resources, Inc. (a)		130,386		2,044,452
Coeur Mining, Inc. *		89,114		609,540
Commercial Metals Co.		99,551		1,767,030
Compass Minerals International, Inc.		27,399		2,547,833
Cytec Industries, Inc.		29,860		2,966,591
Deltic Timber Corp.		9,643		590,730
Domtar Corp.		26,252		2,385,782
Eagle Materials, Inc.		41,193		3,582,555
Ferro Corp. *		73,339		938,739
Flotek Industries, Inc. *		40,841		1,159,068
FutureFuel Corp.		19,194		329,753
Globe Specialty Metals, Inc.		54,405		1,087,556
Gold Resource Corp. (a)		29,408		128,807
Graphic Packaging Holding Co. *		253,541		2,786,416
Greif, Inc., Class A		26,146		1,428,095
H.B. Fuller Co.		42,781		2,046,215
Hawkins, Inc.		8,443		304,877
Haynes International, Inc.		9,215		489,316
Headwaters, Inc. *		61,976		801,350
Hecla Mining Co.		293,397		812,710
Horsehead Holding Corp. *		38,904		645,028
Innophos Holdings, Inc.		18,518		972,195
Innospec, Inc.		20,016		844,075
Intrepid Potash, Inc. *(a)		46,262		749,907
Kaiser Aluminum Corp.		13,473		922,496

9

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
KapStone Paper & Packaging Corp. *		68,618		1,993,353
Koppers Holdings, Inc.		17,336		629,990
Kraton Performance Polymers, Inc. *		27,111		674,251
Kronos Worldwide, Inc.		17,237		260,106
Landec Corp. *		20,120		241,641
Louisiana-Pacific Corp. *		113,939		1,617,934
LSB Industries, Inc. *		16,582		632,769
Materion Corp.		16,886		575,644
McEwen Mining, Inc. *(a)		189,671		411,586
Mercer International, Inc. *		29,279		258,826
Minerals Technologies, Inc.		29,203		1,810,586
Molycorp, Inc. *(a)		155,421		430,516
Myers Industries, Inc.		22,572		479,655
Neenah Paper, Inc.		13,546		660,774
NewMarket Corp.		9,018		3,530,637
Olin Corp.		67,593		1,841,909
OM Group, Inc.		27,977		861,692
OMNOVA Solutions, Inc. *		40,657		384,615
P.H. Glatfelter Co.		36,936		972,156
PolyOne Corp.		77,600		3,114,088
Quaker Chemical Corp.		10,891		806,261
Rentech, Inc. *		181,466		422,816
Resolute Forest Products, Inc. *		75,053		1,123,543
RTI International Metals, Inc. *		26,345		706,573
Schnitzer Steel Industries, Inc., Class A		24,109		600,796
Schweitzer-Mauduit International, Inc.		27,112		1,130,028
Sensient Technologies Corp.		42,632		2,336,234
Silgan Holdings, Inc.		37,155		1,814,279
Sonoco Products Co.		85,508		3,611,858
Steel Dynamics, Inc.		188,097		3,248,435
Stepan Co.		16,242		869,272
Stillwater Mining Co. *		103,547		1,740,625
SunCoke Energy, Inc. *		60,533		1,215,503
Taminco Corp. *		22,294		475,085
Texas Industries, Inc. *		16,842		1,446,559
The Scotts Miracle-Gro Co., Class A		36,027		2,159,819
Tredegar Corp.		20,924		444,635
Tronox Ltd., Class A		52,122		1,384,882
United States Lime & Minerals, Inc.		217		13,908
United States Steel Corp.		123,151		2,837,399
US Silica Holdings, Inc.		44,613		2,256,079
Walter Energy, Inc. (a)		37,904		184,972
Wausau Paper Corp.		40,169		427,398
Worthington Industries, Inc.		45,029		1,814,669
Zep, Inc.		16,291		285,092
				114,816,662
Media 1.4%
AMC Entertainment Holdings, Inc., Class A *		15,172		343,949
Carmike Cinemas, Inc. *		19,517		671,385
Central European Media Enterprises Ltd., Class A *		56,069		159,797
Cinemark Holdings, Inc.		88,430		2,787,314
Clear Channel Outdoor Holdings, Inc., Class A		32,138		262,246
Crown Media Holdings, Inc., Class A *		18,599		66,398
Cumulus Media, Inc., Class A *		85,026		537,364
DreamWorks Animation SKG, Inc., Class A *		59,124		1,660,202
Entercom Communications Corp., Class A *		13,495		140,888
Gray Television, Inc. *		35,987		411,691
Harte-Hanks, Inc.		37,018		263,198
Hemisphere Media Group, Inc. *		10,256		116,508
John Wiley & Sons, Inc., Class A		38,643		2,116,864
Journal Communications, Inc., Class A *		38,139		314,647
Live Nation Entertainment, Inc. *		119,967		2,845,617
Loral Space & Communications, Inc. *		11,078		801,382
Meredith Corp.		32,049		1,440,923
Morningstar, Inc.		18,102		1,287,776
National CineMedia, Inc.		49,965		782,952
New Media Investment Group, Inc. *		20,876		291,638
Nexstar Broadcasting Group, Inc., Class A (a)		23,760		1,103,890
ReachLocal, Inc. *(a)		9,295		55,770
Regal Entertainment Group, Class A (a)		69,077		1,347,692
Rentrak Corp. *		10,075		520,575
Saga Communications, Inc., Class A		4,080		188,455
Scholastic Corp.		22,387		713,698
SFX Entertainment, Inc. *(a)		17,630		129,052
Sinclair Broadcast Group, Inc., Class A (a)		63,947		1,891,552
Sizmek, Inc. *		17,998		175,300
Starz, Class A *		78,092		2,389,615
The E.W. Scripps Co., Class A *		27,580		538,362
The McClatchy Co., Class A *		32,535		167,230
The New York Times Co., Class A		106,711		1,585,725
World Wrestling Entertainment, Inc., Class A (a)		22,545		254,308
				28,363,963
Pharmaceuticals, Biotechnology & Life Sciences 6.0%
ACADIA Pharmaceuticals, Inc. *		69,412		1,433,358
Acceleron Pharma, Inc. *		4,939		146,589
Achillion Pharmaceuticals, Inc. *(a)		76,486		207,277
Acorda Therapeutics, Inc. *		34,620		1,138,306
Aegerion Pharmaceuticals, Inc. *		20,698		679,929
Affymetrix, Inc. *		69,418		573,393
Agios Pharmaceuticals, Inc. *(a)		5,198		182,762
Akorn, Inc. *		61,784		1,728,098
Alkermes plc *		118,431		5,425,324
Alnylam Pharmaceuticals, Inc. *		52,886		3,135,611
AMAG Pharmaceuticals, Inc. *		19,238		352,055
Arena Pharmaceuticals, Inc. *(a)		189,992		1,168,451
ARIAD Pharmaceuticals, Inc. *(a)		157,702		1,018,755
Array BioPharma, Inc. *		91,005		382,221
Auspex Pharmaceuticals, Inc. *		5,916		125,123
Auxilium Pharmaceuticals, Inc. *(a)		36,639		819,981

10 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
AVANIR Pharmaceuticals, Inc., Class A *		124,093		655,211
Bio-Rad Laboratories, Inc., Class A *		16,548		1,997,840
Bluebird Bio, Inc. *		5,146		118,976
Bruker Corp. *		92,506		1,938,001
Cambrex Corp. *		27,777		596,928
Cara Therapeutics, Inc. *		4,628		63,774
Celldex Therapeutics, Inc. *		74,196		1,084,004
Cepheid, Inc. *		57,985		2,612,224
Charles River Laboratories International, Inc. *		39,823		2,133,716
ChemoCentryx, Inc. *(a)		16,339		87,904
Chimerix, Inc. *		9,938		183,356
Clovis Oncology, Inc. *		23,507		1,203,793
Cubist Pharmaceuticals, Inc. *		62,124		4,137,458
Curis, Inc. *		72,563		129,162
Dendreon Corp. *(a)		128,477		277,510
Depomed, Inc. *		49,248		587,529
Dicerna Pharmaceuticals, Inc. *(a)		5,328		86,100
Dyax Corp. *		104,860		865,095
Emergent Biosolutions, Inc. *		24,833		538,628
Enanta Pharmaceuticals, Inc. *(a)		2,454		93,203
Endocyte, Inc. *(a)		26,324		166,631
Epizyme, Inc. *		8,855		212,343
Exact Sciences Corp. *(a)		57,694		777,715
Exelixis, Inc. *(a)		144,264		477,514
Fluidigm Corp. *		21,682		601,459
Foundation Medicine, Inc. *(a)		5,166		122,589
Furiex Pharmaceuticals, Inc. *		6,378		659,230
Genomic Health, Inc. *(a)		14,934		388,135
Halozyme Therapeutics, Inc. *		83,583		660,306
Hyperion Therapeutics, Inc. *		5,614		164,322
Idenix Pharmaceuticals, Inc. *(a)		81,887		513,431
ImmunoGen, Inc. *		74,255		877,694
Impax Laboratories, Inc. *		56,569		1,570,355
Infinity Pharmaceuticals, Inc. *		37,582		379,578
Intercept Pharmaceuticals, Inc. *		9,828		2,325,403
InterMune, Inc. *		82,702		3,276,653
Intra-Cellular Therapies, Inc. *		18,612		281,972
Intrexon Corp. *(a)		9,296		196,053
Ironwood Pharmaceuticals, Inc. *		99,305		1,422,048
Isis Pharmaceuticals, Inc. *		97,114		2,837,671
Jazz Pharmaceuticals plc *		43,703		6,199,708
Karyopharm Therapeutics, Inc. *(a)		5,773		151,541
Keryx Biopharmaceuticals, Inc. *(a)		75,640		998,448
Kindred Biosciences, Inc. *		6,804		114,988
KYTHERA Biopharmaceuticals, Inc. *		10,543		352,874
Lexicon Pharmaceuticals, Inc. *		192,351		253,903
Ligand Pharmaceuticals, Inc. *		16,476		1,099,114
Luminex Corp. *		31,443		534,217
MacroGenics, Inc. *		7,032		131,217
Mallinckrodt plc *(a)		47,898		3,724,548
MannKind Corp. *(a)		171,554		1,526,831
Merrimack Pharmaceuticals, Inc. *(a)		75,672		587,971
MiMedx Group, Inc. *		70,512		385,701
Momenta Pharmaceuticals, Inc. *		42,933		531,940
Myriad Genetics, Inc. *(a)		62,934		2,086,891
Navidea Biopharmaceuticals, Inc. *(a)		89,992		143,087
Nektar Therapeutics *		105,798		1,241,011
Neurocrine Biosciences, Inc. *		54,131		751,880
NewLink Genetics Corp. *(a)		14,155		290,319
Novavax, Inc. *		148,615		699,977
NPS Pharmaceuticals, Inc. *		78,951		2,457,745
OncoMed Pharmaceuticals, Inc. *(a)		4,265		96,389
Onconova Therapeutics, Inc. *(a)		4,598		22,300
Ophthotech Corp. *(a)		8,653		352,177
OPKO Health, Inc. *(a)		184,275		1,588,450
Orexigen Therapeutics, Inc. *		77,485		500,553
Organovo Holdings, Inc. *(a)		57,975		412,782
Osiris Therapeutics, Inc. *(a)		14,778		227,433
Pacira Pharmaceuticals, Inc. *		28,338		2,199,312
PAREXEL International Corp. *		46,318		2,336,743
PDL BioPharma, Inc. (a)		122,781		1,150,458
Portola Pharmaceuticals, Inc. *		7,435		164,760
Prestige Brands Holdings, Inc. *		43,547		1,489,307
PTC Therapeutics, Inc. *		14,877		352,734
Puma Biotechnology, Inc. *		16,313		1,246,803
Questcor Pharmaceuticals, Inc. (a)		46,929		4,229,711
Raptor Pharmaceutical Corp. *(a)		58,870		481,557
Receptos, Inc. *		9,778		290,993
Relypsa, Inc. *		5,761		134,750
Retrophin, Inc. *		4,628		67,661
Revance Therapeutics, Inc. *		5,128		161,481
Rigel Pharmaceuticals, Inc. *		72,849		239,673
Sagent Pharmaceuticals, Inc. *		18,005		403,492
Salix Pharmaceuticals Ltd. *		52,540		5,993,763
Sangamo BioSciences, Inc. *		52,204		685,961
Sarepta Therapeutics, Inc. *(a)		26,968		908,282
Sciclone Pharmaceuticals, Inc. *		38,335		192,825
Sequenom, Inc. *(a)		98,031		300,955
Spectrum Pharmaceuticals, Inc. *(a)		41,194		320,901
Sunesis Pharmaceuticals, Inc. *		37,131		190,111
Synageva BioPharma Corp. *		16,119		1,308,057
Synergy Pharmaceuticals, Inc. *(a)		75,117		326,008
Synta Pharmaceuticals Corp. *(a)		54,823		224,774
Techne Corp.		27,267		2,393,770
TESARO, Inc. *		16,230		432,367
The Medicines Co. *		53,808		1,501,243
TherapeuticsMD, Inc. *(a)		77,236		313,578
Theravance, Inc. *(a)		65,204		1,868,095
Threshold Pharmaceuticals, Inc. *		37,292		143,947
Ultragenyx Pharmaceutical, Inc. *		4,928		185,096
United Therapeutics Corp. *		38,215		3,658,704
VIVUS, Inc. *(a)		86,045		424,202
XOMA Corp. *		47,745		197,664
ZIOPHARM Oncology, Inc. *(a)		87,767		315,961
				120,118,441
Real Estate 10.3%
Acadia Realty Trust		48,464		1,337,122
AG Mortgage Investment Trust, Inc.		24,513		465,747
Agree Realty Corp.		10,383		320,212
Alexander & Baldwin, Inc.		35,129		1,331,740
Alexander’s, Inc.		2,039		748,313
Altisource Portfolio Solutions S.A. *		13,969		1,539,523

11

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Altisource Residential Corp.		46,149		1,287,096
American Assets Trust, Inc.		30,225		1,036,717
American Capital Mortgage Investment Corp.		44,248		903,987
American Homes 4 Rent, Class A		42,967		757,079
American Realty Capital Properties, Inc.		740,877		9,194,284
American Residential Properties, Inc. *		9,678		177,107
AmREIT, Inc.		15,242		270,850
Anworth Mortgage Asset Corp.		119,817		647,012
Apollo Commercial Real Estate Finance, Inc.		30,225		506,269
Apollo Residential Mortgage, Inc.		25,167		422,302
ARMOUR Residential REIT, Inc.		318,585		1,385,845
Ashford Hospitality Prime, Inc.		18,212		296,856
Ashford Hospitality Trust, Inc.		60,476		647,093
Associated Estates Realty Corp.		48,405		836,922
Aviv REIT, Inc.		16,937		470,002
BioMed Realty Trust, Inc.		163,672		3,551,682
Blackstone Mortgage Trust, Inc., Class A		39,534		1,174,950
Brandywine Realty Trust		129,048		1,974,434
Campus Crest Communities, Inc.		53,684		476,177
Capstead Mortgage Corp.		81,706		1,076,068
CBL & Associates Properties, Inc.		144,740		2,724,007
Cedar Realty Trust, Inc.		61,905		380,097
Chambers Street Properties		201,424		1,611,392
Chesapeake Lodging Trust		42,015		1,225,578
Chimera Investment Corp.		858,100		2,703,015
Colony Financial, Inc.		75,674		1,676,936
Columbia Property Trust, Inc.		104,267		2,741,179
CommonWealth REIT		94,707		2,491,741
CoreSite Realty Corp.		19,239		609,876
Corporate Office Properties Trust		75,697		2,085,452
Cousins Properties, Inc.		154,474		1,853,688
CubeSmart		108,143		1,972,528
CyrusOne, Inc.		15,636		357,752
CYS Investments, Inc.		137,839		1,273,632
DCT Industrial Trust, Inc.		270,999		2,146,312
DiamondRock Hospitality Co.		162,191		2,014,412
Douglas Emmett, Inc.		110,526		3,137,833
DuPont Fabros Technology, Inc.		55,794		1,426,653
Dynex Capital, Inc.		31,508		272,544
EastGroup Properties, Inc.		26,195		1,667,574
Education Realty Trust, Inc.		98,218		1,027,360
Empire State Realty Trust, Inc., Class A		66,918		1,096,786
EPR Properties		43,422		2,341,314
Equity Lifestyle Properties, Inc.		67,394		2,947,814
Equity One, Inc.		54,388		1,248,748
Excel Trust, Inc.		44,440		586,608
FelCor Lodging Trust, Inc.		92,580		910,987
First Industrial Realty Trust, Inc.		85,000		1,575,900
First Potomac Realty Trust		47,577		622,307
Forest City Enterprises, Inc., Class A *		132,823		2,527,622
Forestar Group, Inc. *		29,467		513,315
Franklin Street Properties Corp.		73,495		920,157
Gaming & Leisure Properties, Inc.		76,405		2,564,152
Getty Realty Corp.		21,758		425,151
Glimcher Realty Trust		115,261		1,270,176
Government Properties Income Trust		44,379		1,132,552
Hatteras Financial Corp.		80,732		1,638,052
Healthcare Realty Trust, Inc.		81,617		2,034,712
Healthcare Trust of America, Inc., Class A		145,129		1,756,061
Hersha Hospitality Trust		157,816		998,975
Highwoods Properties, Inc.		76,472		3,103,234
Home Properties, Inc.		47,343		2,943,788
Hospitality Properties Trust		126,886		3,680,963
Hudson Pacific Properties, Inc.		42,397		1,004,809
Inland Real Estate Corp.		73,056		775,855
Invesco Mortgage Capital, Inc.		117,252		2,082,396
Investors Real Estate Trust		88,579		786,582
iStar Financial, Inc. *		62,865		907,771
Kennedy-Wilson Holdings, Inc.		56,692		1,404,261
Kite Realty Group Trust		110,035		683,317
LaSalle Hotel Properties		86,450		2,851,985
Lexington Realty Trust		166,813		1,893,328
LTC Properties, Inc.		27,577		1,095,910
Mack-Cali Realty Corp.		74,673		1,624,138
Medical Properties Trust, Inc.		142,568		1,927,519
MFA Financial, Inc.		308,766		2,541,144
Mid-America Apartment Communities, Inc.		63,750		4,612,312
Monmouth Real Estate Investment Corp., Class A		35,114		332,530
National Health Investors, Inc.		23,971		1,503,461
New Residential Investment Corp.		196,904		1,248,371
New York Mortgage Trust, Inc.		60,733		483,435
Newcastle Investment Corp.		277,632		1,338,186
NorthStar Realty Finance Corp.		295,132		4,884,435
Omega Healthcare Investors, Inc.		103,184		3,806,458
One Liberty Properties, Inc.		10,075		216,613
Parkway Properties, Inc.		57,433		1,146,937
Pebblebrook Hotel Trust		52,340		1,860,164
Pennsylvania Real Estate Investment Trust		56,363		1,011,716
PennyMac Mortgage Investment Trust		60,737		1,282,765
Piedmont Office Realty Trust, Inc., Class A (a)		129,018		2,402,315
Post Properties, Inc.		44,866		2,294,896
Potlatch Corp.		34,338		1,379,014
PS Business Parks, Inc.		16,099		1,355,375
QTS Realty Trust, Inc., Class A		9,829		286,024
RAIT Financial Trust		56,159		440,287
Ramco-Gershenson Properties Trust		56,035		930,181
Redwood Trust, Inc.		72,007		1,403,416
Resource Capital Corp.		106,257		612,040
Retail Opportunity Investments Corp.		51,585		815,043
Retail Properties of America, Inc., Class A		155,111		2,332,869
Rexford Industrial Realty, Inc.		17,704		247,502
RLJ Lodging Trust		104,540		2,896,803
Rouse Properties, Inc. (a)		28,730		468,874
Ryman Hospitality Properties, Inc. (a)		40,637		1,874,585
Sabra Health Care REIT, Inc.		31,774		930,343
Saul Centers, Inc.		10,274		494,693

12 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Select Income REIT		23,746		682,223
Silver Bay Realty Trust Corp.		31,751		503,888
Sovran Self Storage, Inc.		27,161		2,085,965
Spirit Realty Capital, Inc.		294,378		3,323,528
STAG Industrial, Inc.		37,036		887,012
Starwood Property Trust, Inc.		178,737		4,359,395
Starwood Waypoint Residential Trust *		32,893		897,650
Strategic Hotels & Resorts, Inc. *		146,721		1,599,259
Summit Hotel Properties, Inc.		68,975		692,509
Sun Communities, Inc.		28,517		1,380,793
Sunstone Hotel Investors, Inc.		154,035		2,262,774
Tanger Factory Outlet Centers, Inc.		80,351		2,846,032
Tejon Ranch Co. *		11,751		357,818
The Geo Group, Inc.		59,614		2,027,472
The Howard Hughes Corp. *		26,055		3,858,224
The St. Joe Co. *(a)		80,253		1,889,156
Two Harbors Investment Corp.		301,092		3,170,499
Universal Health Realty Income Trust		11,247		486,883
Urstadt Biddle Properties, Inc., Class A		22,848		473,411
Washington REIT		58,185		1,502,919
Western Asset Mortgage Capital Corp. (a)		26,807		386,557
Whitestone REIT		18,572		265,208
Winthrop Realty Trust		24,941		374,115
				205,858,272
Retailing 4.1%
1-800-Flowers.com, Inc., Class A *		15,703		87,623
Aaron’s, Inc.		60,173		1,976,081
Aeropostale, Inc. *		66,378		259,538
America’s Car-Mart, Inc. *		5,543		200,934
American Eagle Outfitters, Inc.		144,374		1,549,133
ANN, Inc. *		39,004		1,516,085
Asbury Automotive Group, Inc. *		26,912		1,739,592
Ascena Retail Group, Inc. *		108,413		1,809,955
Barnes & Noble, Inc. *		30,904		560,599
bebe stores, Inc.		27,991		114,763
Big 5 Sporting Goods Corp.		13,506		156,805
Big Lots, Inc. *		50,308		2,135,071
Blue Nile, Inc. *		10,927		336,770
Brown Shoe Co., Inc.		33,772		950,682
Burlington Stores, Inc. *		23,168		658,435
Cabela’s, Inc. *		38,505		2,357,661
Chico’s FAS, Inc.		136,994		2,076,829
Conn’s, Inc. *		21,006		979,720
Core-Mark Holding Co., Inc.		9,085		751,148
CST Brands, Inc.		63,798		2,109,800
Destination Maternity Corp.		10,891		251,909
DSW, Inc., Class A		59,906		1,500,645
Express, Inc. *		70,596		890,216
Five Below, Inc. *		40,058		1,450,100
Francesca’s Holdings Corp. *		37,295		572,105
Fred’s, Inc., Class A		27,804		424,567
FTD Cos., Inc. *		15,380		459,708
Genesco, Inc. *		19,491		1,459,681
GNC Holdings, Inc., Class A		78,256		2,889,211
Gordmans Stores, Inc. (a)		5,118		22,007
Group 1 Automotive, Inc.		18,002		1,449,161
Guess?, Inc.		50,559		1,289,254
Haverty Furniture Cos., Inc.		17,791		445,309
hhgregg, Inc. *(a)		6,633		61,024
Hibbett Sports, Inc. *		20,956		1,102,076
HomeAway, Inc. *		52,432		1,614,906
HSN, Inc.		28,493		1,584,781
J.C. Penney Co., Inc. *(a)		263,847		2,371,985
Jos. A. Bank Clothiers, Inc. *		22,909		1,487,940
Liberty Ventures, Series A *		61,655		4,093,892
Lithia Motors, Inc., Class A		18,595		1,458,406
Lumber Liquidators Holdings, Inc. *		23,414		1,818,799
MarineMax, Inc. *		19,523		313,735
Mattress Firm Holding Corp. *(a)		12,633		566,716
Monro Muffler Brake, Inc.		24,270		1,310,823
Murphy USA, Inc. *		37,734		1,919,906
New York & Co., Inc. *		25,514		101,035
Nutrisystem, Inc.		24,847		409,975
Office Depot, Inc. *		401,222		2,054,257
Orbitz Worldwide, Inc. *		22,686		168,557
Outerwall, Inc. *(a)		16,749		1,184,657
Overstock.com, Inc. *		12,505		190,826
Penske Automotive Group, Inc.		34,245		1,593,077
PetMed Express, Inc. (a)		15,797		210,100
Pier 1 Imports, Inc.		72,027		1,268,395
Pool Corp.		38,077		2,198,185
RadioShack Corp. *(a)		59,888		89,832
Rent-A-Center, Inc.		45,396		1,269,272
Restoration Hardware Holdings, Inc. *		23,121		1,537,084
RetailMeNot, Inc. *		8,030		204,765
Sears Hometown & Outlet Stores, Inc. *		10,066		221,754
Select Comfort Corp. *		47,747		885,229
Shoe Carnival, Inc.		12,662		236,779
Shutterfly, Inc. *		32,123		1,321,540
Sonic Automotive, Inc., Class A		28,763		757,042
Stage Stores, Inc.		26,961		495,274
Stein Mart, Inc.		22,592		305,444
Systemax, Inc. *		7,439		118,950
The Bon-Ton Stores, Inc. (a)		9,259		94,812
The Buckle, Inc. (a)		24,608		1,103,669
The Cato Corp., Class A		23,965		691,151
The Children’s Place Retail Stores, Inc.		19,235		930,589
The Container Store Group, Inc. *(a)		9,405		269,547
The Finish Line, Inc., Class A		43,547		1,248,492
The Men’s Wearhouse, Inc.		37,024		1,843,055
The Pep Boys-Manny, Moe & Jack *		44,319		451,611
The Wet Seal, Inc., Class A *(a)		66,832		56,139
Tile Shop Holdings, Inc. *(a)		22,502		335,730
Tilly’s, Inc., Class A *		6,933		60,941
Tuesday Morning Corp. *		31,374		507,004
Vitacost.com, Inc. *		13,106		86,762
Vitamin Shoppe, Inc. *		26,145		1,123,712
VOXX International Corp. *		16,055		139,117
West Marine, Inc. *		10,275		103,264
Weyco Group, Inc.		4,113		112,408
Winmark Corp.		1,632		108,185
zulily, Inc., Class A *(a)		8,276		287,425

13

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Zumiez, Inc. *		18,889		518,881
				82,030,609
Semiconductors & Semiconductor Equipment 3.4%
Advanced Energy Industries, Inc. *		31,973		625,712
Advanced Micro Devices, Inc. *		532,207		2,128,828
Amkor Technology, Inc. *		100,065		1,011,657
Applied Micro Circuits Corp. *		62,176		559,584
Atmel Corp. *		364,219		3,052,155
Brooks Automation, Inc.		55,887		542,663
Cabot Microelectronics Corp. *		19,850		854,146
Cavium, Inc. *		44,413		2,175,349
Ceva, Inc. *		18,497		289,478
Cirrus Logic, Inc. *		54,509		1,206,284
Cohu, Inc.		18,021		193,906
Cypress Semiconductor Corp. *		118,751		1,217,198
Diodes, Inc. *		31,973		884,693
Entegris, Inc. *		112,722		1,292,921
Entropic Communications, Inc. *		77,835		256,077
Exar Corp. *		41,399		450,421
Fairchild Semiconductor International, Inc. *		108,610		1,593,309
First Solar, Inc. *		59,444		3,672,450
FormFactor, Inc. *		46,245		335,739
GT Advanced Technologies, Inc. *(a)		105,295		1,775,274
Hittite Microwave Corp.		24,109		1,417,609
Inphi Corp. *		16,910		254,665
Integrated Device Technology, Inc. *		116,104		1,544,183
Integrated Silicon Solution, Inc. *		24,757		347,588
Intermolecular, Inc. *		14,246		34,760
International Rectifier Corp. *		61,399		1,646,721
Intersil Corp., Class A		110,758		1,558,365
IXYS Corp.		20,266		229,208
Kulicke & Soffa Industries, Inc. *		64,430		907,819
Lattice Semiconductor Corp. *		97,153		768,480
M/A-COM Technology Solutions Holdings, Inc. *		11,858		216,883
Micrel, Inc.		38,668		411,814
Microsemi Corp. *		79,334		1,930,196
MKS Instruments, Inc.		46,195		1,332,726
Monolithic Power Systems, Inc. *		29,409		1,155,480
Nanometrics, Inc. *		18,650		320,034
OmniVision Technologies, Inc. *		45,479		1,022,368
ON Semiconductor Corp. *		383,964		3,336,647
PDF Solutions, Inc. *		21,782		433,897
Peregrine Semiconductor Corp. *		24,106		153,796
Photronics, Inc. *		52,908		465,061
PMC-Sierra, Inc. *		176,586		1,248,463
Power Integrations, Inc.		25,329		1,273,795
Rambus, Inc. *		93,805		1,135,041
RF Micro Devices, Inc. *		220,448		2,074,416
Rudolph Technologies, Inc. *		24,967		236,687
Semtech Corp. *		57,845		1,500,499
Silicon Image, Inc. *		61,678		322,576
Silicon Laboratories, Inc. *		31,958		1,441,945
Spansion, Inc., Class A *		45,300		862,965
SunEdison, Inc. *		204,729		4,031,114
SunPower Corp. *		34,004		1,133,693
Synaptics, Inc. *		28,491		1,939,667
Teradyne, Inc.		161,907		2,881,945
Tessera Technologies, Inc.		41,299		928,815
TriQuint Semiconductor, Inc. *		133,306		2,074,241
Ultratech, Inc. *		24,513		622,140
Veeco Instruments, Inc. *		32,096		1,069,439
				68,383,585
Software & Services 7.6%
ACI Worldwide, Inc. *		32,100		1,743,351
Actuate Corp. *		48,097		224,613
Acxiom Corp. *		62,068		1,410,806
Advent Software, Inc.		35,806		1,083,490
Angie’s List, Inc. *(a)		34,721		369,779
AOL, Inc. *		65,296		2,368,939
Aspen Technology, Inc. *		77,372		3,326,222
Bankrate, Inc. *		45,899		695,370
Barracuda Networks, Inc. *(a)		2,471		72,870
Bazaarvoice, Inc. *		34,684		228,221
Benefitfocus, Inc. *(a)		3,228		119,565
Blackbaud, Inc.		40,056		1,371,918
Blackhawk Network Holdings, Inc. *		8,707		216,282
Blucora, Inc. *		35,054		664,974
Booz Allen Hamilton Holding Corp.		50,362		1,114,511
Bottomline Technologies (de), Inc. *		32,043		923,479
Broadridge Financial Solutions, Inc.		101,419		4,160,207
BroadSoft, Inc. *		24,047		518,694
CACI International, Inc., Class A *		18,876		1,347,746
Carbonite, Inc. *		9,499		106,009
Cardtronics, Inc. *		39,134		1,134,103
Care.com, Inc. *(a)		4,540		48,760
Cass Information Systems, Inc.		7,660		386,217
ChannelAdvisor Corp. *		8,483		175,937
CIBER, Inc. *		50,526		234,946
CommVault Systems, Inc. *		37,585		1,838,658
Computer Task Group, Inc.		12,523		194,357
Compuware Corp.		186,865		1,849,964
comScore, Inc. *		29,409		918,443
Comverse, Inc. *		19,334		478,517
Constant Contact, Inc. *		27,256		805,142
Convergys Corp.		84,318		1,839,819
Conversant, Inc. *		53,273		1,256,177
CoreLogic, Inc. *		76,321		2,177,438
Cornerstone OnDemand, Inc. *		36,625		1,471,959
CoStar Group, Inc. *		23,976		3,801,395
Covisint Corp. *(a)		4,285		21,682
CSG Systems International, Inc.		28,393		745,884
Cvent, Inc. *		8,911		222,953
Cyan, Inc. *(a)		7,133		26,463
Dealertrack Technologies, Inc. *		36,026		1,430,593
Demand Media, Inc. *		27,653		127,204
Demandware, Inc. *		23,061		1,404,184
Dice Holdings, Inc. *		27,194		191,990
Digital River, Inc. *		24,741		389,423
DST Systems, Inc.		28,856		2,630,224
E2open, Inc. *		12,292		216,093
EarthLink Holdings Corp.		83,997		305,749
Ebix, Inc. (a)		27,541		430,741

14 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Ellie Mae, Inc. *		20,403		568,224
EnerNOC, Inc. *		20,721		397,636
Envestnet, Inc. *		24,832		1,006,689
EPAM Systems, Inc. *		20,320		854,862
Epiq Systems, Inc.		27,400		330,444
ePlus, Inc. *		3,264		185,101
Euronet Worldwide, Inc. *		40,536		1,910,867
EVERTEC, Inc.		58,152		1,390,414
ExlService Holdings, Inc. *		26,178		741,885
Fair Isaac Corp.		28,796		1,696,084
Forrester Research, Inc.		11,745		444,196
Fortinet, Inc. *		116,232		2,611,733
Gigamon, Inc. *(a)		10,421		177,261
Global Cash Access Holdings, Inc. *		55,357		492,677
Global Eagle Entertainment, Inc. *		41,727		464,422
Gogo, Inc. *(a)		8,987		162,575
Guidewire Software, Inc. *		56,049		2,116,971
Heartland Payment Systems, Inc.		30,466		1,262,816
Higher One Holdings, Inc. *		25,537		96,019
iGATE Corp. *		26,145		911,676
Imperva, Inc. *		17,209		359,324
Infoblox, Inc. *		38,326		496,705
Interactive Intelligence Group, Inc. *		12,251		621,003
Internap Network Services Corp. *		41,449		296,775
Intralinks Holdings, Inc. *		30,741		267,754
j2 Global, Inc.		37,553		1,778,510
Jive Software, Inc. *		19,634		157,072
Liquidity Services, Inc. *(a)		22,598		347,557
LivePerson, Inc. *		40,783		388,254
LogMeIn, Inc. *		20,187		859,361
Manhattan Associates, Inc. *		63,472		2,060,301
ManTech International Corp., Class A		20,966		618,287
Marin Software, Inc. *(a)		4,628		46,280
Marketo, Inc. *		14,181		328,716
MAXIMUS, Inc.		58,065		2,594,344
Mentor Graphics Corp.		81,932		1,736,139
MicroStrategy, Inc., Class A *		7,142		1,007,879
Millennial Media, Inc. *(a)		27,190		109,304
Model N, Inc. *		4,090		45,235
MoneyGram International, Inc. *		24,677		325,243
Monotype Imaging Holdings, Inc.		33,772		869,629
Monster Worldwide, Inc. *		75,607		427,936
Move, Inc. *		33,306		435,643
NetScout Systems, Inc. *		32,956		1,281,000
NeuStar, Inc., Class A *		51,021		1,429,608
NIC, Inc.		51,074		846,296
OpenTable, Inc. *		19,585		1,326,884
Pandora Media, Inc. *		136,763		3,354,796
Pegasystems, Inc.		27,646		587,201
Perficient, Inc. *		29,267		516,270
Progress Software Corp. *		40,936		889,130
Proofpoint, Inc. *		18,598		593,648
PROS Holdings, Inc. *		20,966		482,218
PTC, Inc. *		99,304		3,654,387
Qlik Technologies, Inc. *		74,804		1,623,995
Qualys, Inc. *		12,720		300,701
QuinStreet, Inc. *		21,782		121,108
Rally Software Development Corp. *		10,695		139,677
RealNetworks, Inc. *		17,989		138,335
RealPage, Inc. *		42,425		899,834
Rocket Fuel, Inc. *(a)		7,687		192,175
Rosetta Stone, Inc. *		11,862		116,722
Rovi Corp. *		82,358		1,990,593
Sapient Corp. *		94,022		1,546,662
Science Applications International Corp.		35,236		1,364,690
SciQuest, Inc. *		18,501		313,222
Seachange International, Inc. *		19,306		184,952
ServiceSource International, Inc. *		45,378		206,470
Shutterstock, Inc. *		8,173		531,572
Silver Spring Networks, Inc. *		4,130		50,180
SolarWinds, Inc. *		55,868		2,183,880
Splunk, Inc. *		73,586		3,080,310
SPS Commerce, Inc. *		12,435		707,427
SS&C Technologies Holdings, Inc. *		52,847		2,253,925
Stamps.com, Inc. *		10,259		331,571
Sykes Enterprises, Inc. *		32,856		663,034
Synchronoss Technologies, Inc. *		27,201		863,632
Syntel, Inc. *		13,189		1,066,990
Tableau Software, Inc., Class A *		26,933		1,563,191
Take-Two Interactive Software, Inc. *		75,088		1,549,065
Tangoe, Inc. *		28,208		421,992
TeleTech Holdings, Inc. *		17,635		465,211
Textura Corp. *(a)		15,107		316,190
The Ultimate Software Group, Inc. *		22,920		2,913,820
TiVo, Inc. *		105,294		1,252,999
Travelzoo, Inc. *		7,360		141,680
Tremor Video, Inc. *(a)		5,939		24,350
Trulia, Inc. *(a)		29,033		1,122,125
Tyler Technologies, Inc. *		23,897		1,867,073
Unisys Corp. *		38,618		906,365
United Online, Inc.		10,961		119,694
Varonis Systems, Inc. *		4,240		103,838
VASCO Data Security International, Inc. *		24,694		275,338
VeriFone Systems, Inc. *		93,052		3,053,036
Verint Systems, Inc. *		45,945		2,128,632
VirnetX Holding Corp. *(a)		35,604		562,187
Virtusa Corp. *		21,453		733,907
Vringo, Inc. *(a)		66,708		219,469
Web.com Group, Inc. *		37,122		1,278,482
WebMD Health Corp. *		32,885		1,407,478
WEX, Inc. *		32,529		3,132,217
XO Group, Inc. *		21,344		243,108
Xoom Corp. *		11,640		258,408
Yelp, Inc. *		47,446		3,138,553
Zillow, Inc., Class A *(a)		19,303		2,278,140
Zynga, Inc., Class A *		572,383		1,974,721
				152,106,228
Technology Hardware & Equipment 5.1%
ADTRAN, Inc.		49,596		1,112,934
Aeroflex Holding Corp. *		11,448		119,975
Anixter International, Inc.		22,615		2,329,345
ARRIS Group, Inc. *		97,652		3,233,258
Aruba Networks, Inc. *		92,954		1,721,043

15

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
AVX Corp.		39,587		533,633
Badger Meter, Inc.		11,162		552,854
Belden, Inc.		35,849		2,580,770
Benchmark Electronics, Inc. *		46,681		1,082,532
Black Box Corp.		14,235		346,907
Brocade Communications Systems, Inc. *		371,186		3,385,216
CalAmp Corp. *		28,593		546,126
Calix, Inc. *		29,213		238,378
CDW Corp.		65,624		1,930,002
Checkpoint Systems, Inc. *		34,035		442,455
Ciena Corp. *		87,827		1,703,844
Cognex Corp. *		71,124		2,560,464
Coherent, Inc. *		21,016		1,260,540
CommScope Holding Co., Inc. *		46,407		1,227,001
Comtech Telecommunications Corp.		14,566		475,871
Control4 Corp. *(a)		3,432		58,241
Cray, Inc. *		32,956		924,086
CTS Corp.		30,189		528,609
Daktronics, Inc.		32,337		401,302
Diebold, Inc.		54,355		2,039,943
Dolby Laboratories, Inc., Class A *		41,649		1,730,099
DTS, Inc. *		16,237		294,052
EchoStar Corp., Class A *		34,438		1,758,749
Electro Rent Corp.		15,038		242,864
Electro Scientific Industries, Inc.		20,798		151,617
Electronics For Imaging, Inc. *		40,102		1,631,750
Emulex Corp. *		67,574		362,197
Extreme Networks, Inc. *		84,936		338,045
Fabrinet *		21,102		401,360
FARO Technologies, Inc. *		14,971		636,567
FEI Co.		34,584		2,886,035
Finisar Corp. *		79,909		1,897,839
Fusion-io, Inc. *		75,365		602,166
GSI Group, Inc. *		21,148		256,314
Harmonic, Inc. *		84,860		614,386
II-VI, Inc. *		46,673		628,219
Infinera Corp. *		101,562		924,214
Ingram Micro, Inc., Class A *		129,441		3,594,577
Insight Enterprises, Inc. *		34,140		927,925
InterDigital, Inc.		29,627		1,125,530
InvenSense, Inc. *(a)		44,003		849,258
IPG Photonics Corp. *		29,359		1,852,553
Itron, Inc. *		33,522		1,288,921
Ixia *		46,423		539,435
JDS Uniphase Corp. *		198,175		2,173,980
Knowles Corp. *		68,920		1,944,233
Lexmark International, Inc., Class A		53,341		2,325,134
Littelfuse, Inc.		17,658		1,547,900
Maxwell Technologies, Inc. *		24,882		431,952
Measurement Specialties, Inc. *		12,987		825,064
Methode Electronics, Inc.		31,789		990,227
MTS Systems Corp.		12,201		807,706
Multi-Fineline Electronix, Inc. *		6,711		69,392
NETGEAR, Inc. *		30,104		989,518
Newport Corp. *		32,017		593,275
Nimble Storage, Inc. *(a)		4,928		125,023
Oplink Communications, Inc. *		14,630		246,662
OSI Systems, Inc. *		16,270		926,577
Palo Alto Networks, Inc. *		38,150		2,857,817
Park Electrochemical Corp.		17,141		460,407
PC Connection, Inc.		15,545		325,357
Plantronics, Inc.		37,546		1,702,336
Plexus Corp. *		28,593		1,194,044
Polycom, Inc. *		110,345		1,406,899
Procera Networks, Inc. *		17,702		171,178
QLogic Corp. *		78,002		775,340
Quantum Corp. *		202,838		231,235
RealD, Inc. *(a)		36,813		437,707
Riverbed Technology, Inc. *		133,933		2,721,519
Rofin-Sinar Technologies, Inc. *		25,329		588,646
Rogers Corp. *		15,060		937,636
Ruckus Wireless, Inc. *		44,153		476,852
Sanmina Corp. *		73,389		1,493,466
ScanSource, Inc. *		24,759		918,559
ShoreTel, Inc. *		50,081		348,564
Silicon Graphics International Corp. *		28,967		255,779
Sonus Networks, Inc. *		174,981		642,180
Super Micro Computer, Inc. *		25,553		549,390
SYNNEX Corp. *		21,604		1,428,240
Tech Data Corp. *		31,480		1,873,375
TTM Technologies, Inc. *		45,725		342,938
Ubiquiti Networks, Inc. *(a)		13,289		464,583
Universal Display Corp. *(a)		34,588		904,822
ViaSat, Inc. *		34,645		1,878,798
Viasystems Group, Inc. *		4,117		42,734
Vishay Intertechnology, Inc.		112,440		1,677,605
Zebra Technologies Corp., Class A *		43,132		3,204,708
Zygo Corp. *		14,056		270,156
				101,449,514
Telecommunication Services 0.5%
8x8, Inc. *		60,733		456,712
Atlantic Tele-Network, Inc.		8,443		471,288
Boingo Wireless, Inc. *		26,272		179,175
Cincinnati Bell, Inc. *		171,574		677,717
Cogent Communications Holdings, Inc.		35,455		1,300,135
Consolidated Communications Holdings, Inc.		33,772		689,624
FairPoint Communications, Inc. *(a)		17,448		246,017
General Communication, Inc., Class A *		23,647		268,157
IDT Corp., Class B		15,401		255,349
inContact, Inc. *		46,423		393,203
Intelsat S.A. *		16,914		327,962
Iridium Communications, Inc. *		52,680		417,226
NII Holdings, Inc. *(a)		77,999		38,999
NTELOS Holdings Corp. (a)		11,272		141,238
Premiere Global Services, Inc. *		35,870		466,669
RingCentral, Inc., Class A *		6,276		76,379
Shenandoah Telecommunications Co.		19,806		546,844
Telephone & Data Systems, Inc.		83,896		2,324,758
United States Cellular Corp.		9,343		401,282
USA Mobility, Inc.		22,330		344,329
Vonage Holdings Corp. *		153,278		582,456
				10,605,519

16 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Transportation 2.8%
Air Transport Services Group, Inc. *		41,114		373,315
Alaska Air Group, Inc.		57,406		5,652,195
Allegiant Travel Co.		12,163		1,398,745
AMERCO		4,945		1,365,314
American Airlines Group, Inc. *		157,192		6,312,831
ArcBest Corp.		21,161		905,056
Atlas Air Worldwide Holdings, Inc. *		19,218		703,187
Avis Budget Group, Inc. *		89,663		5,131,413
Celadon Group, Inc.		17,806		415,948
Con-way, Inc.		46,046		2,127,786
Echo Global Logistics, Inc. *		12,577		233,429
Forward Air Corp.		25,329		1,136,259
Hawaiian Holdings, Inc. *		43,899		677,801
Heartland Express, Inc.		44,564		963,696
Hub Group, Inc., Class A *		28,206		1,326,528
JetBlue Airways Corp. *		185,163		1,788,675
Knight Transportation, Inc.		48,176		1,174,049
Landstar System, Inc.		37,526		2,436,563
Marten Transport Ltd.		23,390		563,465
Matson, Inc.		37,036		909,975
Old Dominion Freight Line, Inc. *		59,468		3,803,573
Park-Ohio Holdings Corp.		7,344		386,882
Patriot Transportation Holding, Inc. *		4,753		161,459
Republic Airways Holdings, Inc. *		41,997		441,808
Roadrunner Transportation Systems, Inc. *		21,169		552,934
Ryder System, Inc.		44,713		3,880,641
Saia, Inc. *		21,450		934,791
SkyWest, Inc.		39,763		454,889
Spirit Airlines, Inc. *		61,848		3,653,361
Swift Transportation Co. *		91,002		2,253,210
Universal Truckload Services, Inc.		2,609		63,373
UTi Worldwide, Inc.		71,841		700,450
Werner Enterprises, Inc.		38,418		1,014,235
Wesco Aircraft Holdings, Inc. *		35,158		764,335
XPO Logistics, Inc. *		41,653		1,046,740
				55,708,911
Utilities 2.9%
ALLETE, Inc.		30,941		1,536,840
American States Water Co.		30,293		917,272
Atmos Energy Corp.		83,654		4,191,065
Avista Corp.		50,928		1,594,556
Black Hills Corp.		36,719		2,117,585
California Water Service Group		40,451		892,349
Chesapeake Utilities Corp.		7,671		501,760
Cleco Corp.		50,249		2,614,456
Connecticut Water Service, Inc.		8,690		278,688
Dynegy, Inc. *		83,730		2,821,701
El Paso Electric Co.		32,474		1,237,584
Great Plains Energy, Inc.		130,993		3,333,772
Hawaiian Electric Industries, Inc. (a)		84,331		2,028,161
IDACORP, Inc.		42,782		2,345,737
MGE Energy, Inc.		28,161		1,057,164
Middlesex Water Co.		12,788		261,770
New Jersey Resources Corp.		35,204		1,936,572
Northwest Natural Gas Co.		23,331		1,056,194
NorthWestern Corp.		32,756		1,572,288
NRG Yield, Inc., Class A (a)		16,586		778,049
ONE Gas, Inc.		43,616		1,597,654
Ormat Technologies, Inc.		14,010		417,218
Otter Tail Corp.		27,943		798,611
Pattern Energy Group, Inc.		30,488		925,311
Piedmont Natural Gas Co., Inc.		64,698		2,315,541
PNM Resources, Inc.		66,602		1,895,493
Portland General Electric Co.		66,778		2,208,349
SJW Corp.		11,518		311,447
South Jersey Industries, Inc.		27,827		1,600,609
Southwest Gas Corp.		39,352		2,060,471
The Empire District Electric Co.		36,636		879,630
The Laclede Group, Inc.		26,104		1,218,535
UIL Holdings Corp.		47,634		1,761,029
Unitil Corp.		9,912		331,854
UNS Energy Corp.		34,595		2,095,419
Vectren Corp.		68,015		2,712,438
WGL Holdings, Inc.		43,597		1,767,858
York Water Co.		9,509		193,698
				58,164,728
Total Common Stock
(Cost $1,651,291,370)				1,993,831,573
Other Investment Companies 0.0% of net assets
Equity Fund 0.0%
iShares Russell 2000 ETF		500		56,430
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (d)		152,372		152,372
Total Other Investment Companies
(Cost $203,193)				208,802
Rights 0.0% of net assets
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Forest Laboratories, Inc. *(b)(c)		5,521		—
Telecommunication Services 0.0%
Contra Leap Wireless CVR *(b)(c)		45,801		115,419
Total Rights
(Cost $115,419)				115,419

17

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Warrants 0.0% of net assets
Energy 0.0%
Magnum Hunter Resources Corp. *(a)(b)(c)		11,911		—
Total Warrants
(Cost $—)				—
End of Investments
Collateral Invested for Securities on Loan 3.6% of net assets
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (d)		71,627,588		71,627,588
Total Collateral Invested for Securities on Loan
(Cost $71,627,588)				71,627,588
End of Collateral Invested for Securities on Loan

At 05/31/14, the tax basis cost of the fund’s investments was $1,653,753,811 and the unrealized appreciation and depreciation were $400,902,527 and ($60,500,544), respectively, with a net unrealized appreciation of $340,401,983.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $69,063,917. Non-Cash Collateral received for securities on loan amounted to $473,039.
(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 $115,419 or 0.0% of net assets.
(d)	The rate shown is the 7-day yield.

CVR —	Contingent Value Rights
ETF —	Exchange Traded Fund
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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

18 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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. Small-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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$1,993,831,573		$—		$—		$1,993,831,573
Other Investment Companies1		208,802		—		—		208,802
Rights1		—		—		115,419		115,419
Warrants1		—		—		—		—
Total		$1,994,040,375		$—		$115,419		$1,994,155,794
Other Financial Instruments
Collateral Invested for Securities on Loan		$71,627,588		$—		$—		$71,627,588

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		May 31,
Investments in Securities	2013		(Losses)		(Losses)		Purchases		Sales		in		out		2014
Rights		$—		$—		$—		$115,419		$—		$—		$—		$115,419
Total		$—		$—		$—		$115,419		$—		$—		$—		$115,419

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 May 31, 2014.

REG54091MAY14

20 

Schwab Strategic Trust
Schwab U.S. Dividend Equity ETF™

Portfolio Holdings as of May 31, 2014 (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		1,587,169,404		1,837,766,644
	0	.1%	Other Investment Companies		967,034		988,870
	0	.0%	Short-Term Investment		5,500		5,500
	99	.8%	Total Investments		1,588,141,938		1,838,761,014
	0	.2%	Other Assets and Liabilities, Net				4,578,777
	100	.0%	Net Assets				1,843,339,791

	Number		Value
Security	of Shares		($)
Common Stock 99.7% of net assets
Banks 0.1%
First Financial Bancorp		23,644		384,451
Umpqua Holdings Corp.		50,145		830,903
				1,215,354
Capital Goods 13.3%
3M Co.		281,345		40,105,730
Eaton Corp. plc		211,906		15,615,353
Emerson Electric Co.		313,343		20,909,378
Fastenal Co.		121,849		5,940,139
General Dynamics Corp.		145,172		17,147,717
Illinois Tool Works, Inc.		174,607		15,112,236
Lockheed Martin Corp.		120,765		19,763,192
Northrop Grumman Corp.		96,731		11,757,653
Raytheon Co.		140,442		13,702,926
The Boeing Co.		305,732		41,350,253
United Technologies Corp.		376,473		43,753,692
				245,158,269
Commercial & Professional Services 0.1%
R.R. Donnelley & Sons Co.		88,345		1,399,385
Consumer Durables & Apparel 0.9%
Garmin Ltd.		54,920		3,235,337
Hasbro, Inc.		51,998		2,792,293
Leggett & Platt, Inc.		62,086		2,105,957
Mattel, Inc.		152,069		5,904,839
Tupperware Brands Corp.		22,533		1,886,463
				15,924,889
Consumer Services 2.9%
Cracker Barrel Old Country Store, Inc.		10,584		1,064,221
Darden Restaurants, Inc.		58,609		2,937,483
H&R Block, Inc.		122,489		3,647,723
International Game Technology		111,891		1,404,232
McDonald’s Corp.		442,351		44,867,662
				53,921,321
Diversified Financials 0.7%
Federated Investors, Inc., Class B		40,953		1,157,741
T. Rowe Price Group, Inc.		117,065		9,544,309
Waddell & Reed Financial, Inc., Class A		37,933		2,290,395
				12,992,445
Energy 12.8%
Chevron Corp.		682,993		83,864,710
ConocoPhillips		548,135		43,817,912
Exxon Mobil Corp.		838,347		84,279,024
Helmerich & Payne, Inc.		48,027		5,280,569
HollyFrontier Corp.		88,812		4,373,991
RPC, Inc.		24,590		543,193
The Williams Cos., Inc.		305,839		14,362,199
				236,521,598
Food & Staples Retailing 3.5%
Sysco Corp.		261,335		9,807,902
Wal-Mart Stores, Inc.		722,453		55,462,717
				65,270,619
Food, Beverage & Tobacco 11.4%
Altria Group, Inc.		889,746		36,977,844
B&G Foods, Inc.		23,926		819,705
Campbell Soup Co.		79,864		3,665,758
ConAgra Foods, Inc.		187,843		6,067,329
Flowers Foods, Inc.		78,005		1,626,404
General Mills, Inc.		278,923		15,321,240
Kellogg Co.		114,720		7,913,385
PepsiCo, Inc.		679,842		60,050,444
Reynolds American, Inc.		139,146		8,297,276
The Coca-Cola Co.		1,691,988		69,219,229
Universal Corp.		10,036		537,428
				210,496,042
Health Care Equipment & Services 1.3%
Baxter International, Inc.		242,182		18,020,763
Computer Programs & Systems, Inc.		5,179		329,281
Meridian Bioscience, Inc.		16,562		338,030
Owens & Minor, Inc.		28,147		976,138

1

 Schwab U.S. Dividend Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Quest Diagnostics, Inc.		64,334		3,852,963
				23,517,175
Household & Personal Products 7.1%
Colgate-Palmolive Co.		390,637		26,719,571
Kimberly-Clark Corp.		169,145		19,003,441
The Clorox Co.		57,977		5,195,898
The Procter & Gamble Co.		996,728		80,525,655
				131,444,565
Insurance 1.0%
Aflac, Inc.		203,596		12,466,183
Arthur J. Gallagher & Co.		59,714		2,736,693
Mercury General Corp.		15,988		753,834
PartnerRe Ltd.		20,958		2,250,261
Safety Insurance Group, Inc.		6,164		317,939
				18,524,910
Materials 4.4%
Air Products & Chemicals, Inc.		94,573		11,345,923
Compass Minerals International, Inc.		14,937		1,388,992
E.I. du Pont de Nemours & Co.		414,753		28,746,530
International Paper Co.		196,075		9,339,052
Schweitzer-Mauduit International, Inc.		13,397		558,387
Sonoco Products Co.		45,485		1,921,286
The Dow Chemical Co.		543,530		28,328,784
				81,628,954
Media 0.6%
Gannett Co., Inc.		101,491		2,820,435
Meredith Corp.		16,532		743,279
Omnicom Group, Inc.		115,569		8,222,734
				11,786,448
Pharmaceuticals, Biotechnology & Life Sciences 10.0%
Eli Lilly & Co.		439,560		26,312,062
Johnson & Johnson		843,792		85,611,136
Pfizer, Inc.		2,471,940		73,243,582
				185,166,780
Retailing 4.2%
American Eagle Outfitters, Inc.		76,164		817,240
Genuine Parts Co.		68,627		5,924,569
Staples, Inc.		290,111		3,263,749
Target Corp.		282,589		16,039,751
The Home Depot, Inc.		629,035		50,467,478
				76,512,787
Semiconductors & Semiconductor Equipment 6.0%
Analog Devices, Inc.		139,566		7,310,467
Intel Corp.		2,220,200		60,655,864
Linear Technology Corp.		105,407		4,865,587
Maxim Integrated Products, Inc.		126,277		4,324,987
Microchip Technology, Inc.		88,893		4,231,307
Texas Instruments, Inc.		483,305		22,705,669
Xilinx, Inc.		119,709		5,621,535
				109,715,416
Software & Services 6.1%
Automatic Data Processing, Inc.		214,762		17,112,236
CA, Inc.		144,006		4,131,532
Microsoft Corp.		2,063,819		84,492,750
Paychex, Inc.		144,805		5,952,934
				111,689,452
Technology Hardware & Equipment 0.2%
Harris Corp.		47,683		3,683,512
Telecommunication Services 9.1%
AT&T, Inc.		2,326,775		82,530,709
Verizon Communications, Inc.		1,704,875		85,175,555
				167,706,264
Transportation 3.5%
C.H. Robinson Worldwide, Inc.		66,269		3,966,862
CSX Corp.		450,227		13,236,674
Norfolk Southern Corp.		138,299		13,933,624
United Parcel Service, Inc., Class B		317,610		32,993,327
				64,130,487
Utilities 0.5%
Alliant Energy Corp.		49,412		2,880,720
Questar Corp.		78,238		1,883,189
Wisconsin Energy Corp.		100,968		4,596,063
				9,359,972
Total Common Stock
(Cost $1,587,169,404)				1,837,766,644
Other Investment Companies 0.1% of net assets
Equity Fund 0.0%
Vanguard Dividend Appreciation ETF		5,001		386,050
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Institutional Class 0.00% (a)		602,820		602,820
Total Other Investment Companies
(Cost $967,034)				988,870

2 

 Schwab U.S. Dividend Equity ETF

Portfolio Holdings (Unaudited) continued

	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.05%, 06/19/14 (b)		5,500		5,500
Total Short-Term Investment
(Cost $5,500)				5,500
End of Investments

At 05/31/14, the tax basis cost of the fund’s investments was $1,588,345,913 and the unrealized appreciation and depreciation were $258,857,808 and ($8,442,707), respectively, with a net unrealized appreciation of $250,415,101.

(a)	The rate shown is the 7-day yield.
(b)	The rate shown is the purchase yield.

ETF — Exchange Traded Fund

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: Traded securities are 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. Due to the subjective and variable nature of fair value pricing, there can be no assurance that a fund could obtain the fair value assigned to the security upon the sale of such security. The Board convenes on a regular basis to review fair value determinations made by the funds pursuant to the valuation procedures.

•  Short-term securities (60 days or less to maturity): Short-term securities are valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”). Exchange traded funds (“ETFs”) traded on a recognized securities exchange are valued at the last reported sale price that day or the official closing price, if applicable.

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 inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the

3

 Schwab U.S. Dividend Equity ETF

Portfolio Holdings (Unaudited) continued

lowest level input that is significant to the valuation. 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 and ETFs. Investments in mutual funds are valued daily at their NAVs, and investments in ETFs are valued daily at the last reported sale price or the official closing price, which are classified as Level 1 prices.

•  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 May 31, 2014:

	Quoted Prices in				Significant
	Active Markets for		Other Significant		Unobservable
	Identical Assets		Observable Inputs		Inputs
Description	(Level 1)		(Level 2)		(Level 3)		Total
Common Stock1		$1,837,766,644		$—		$—		$1,837,766,644
Other Investment Companies1		988,870		—		—		988,870
Short-Term Investment		—		5,500		—		5,500
Total		$1,838,755,514		$5,500		$—		$1,838,761,014

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 May 31, 2014.

REG65852MAY14

4 

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: July 22, 2014

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: July 22, 2014

By:	/s/ George Pereira
	George Pereira
	Principal Financial Officer
Date: July 22, 2014