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: November 30, 2014

Item 1. Schedule of Investments.

Schwab Strategic Trust
Schwab International Equity ETF™

Portfolio Holdings as of November 30, 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	.1%	Common Stock		2,570,651,879		2,745,464,424
	0	.4%	Preferred Stock		10,469,429		12,192,325
	0	.0%	Rights		20,773		30,954
	0	.2%	Other Investment Companies		5,263,400		5,263,400
	0	.0%	Short-Term Investment		347,998		347,998
	99	.7%	Total Investments		2,586,753,479		2,763,299,101
	0	.3%	Other Assets and Liabilities, Net				7,991,592
	100	.0%	Net Assets				2,771,290,693

	Number		Value
Security	of Shares		($)
Common Stock 99.1% of net assets
Australia 6.5%
Banks 2.3%
Australia & New Zealand Banking Group Ltd.		490,308		13,357,816
Bank of Queensland Ltd.		54,939		577,690
Bendigo & Adelaide Bank Ltd.		84,412		920,023
Commonwealth Bank of Australia		293,669		20,232,187
National Australia Bank Ltd.		409,488		11,393,637
Westpac Banking Corp.		568,017		15,780,324
				62,261,677
Capital Goods 0.0%
GWA Group Ltd.		157,150		379,581
Leighton Holdings Ltd.		14,368		246,856
				626,437
Commercial & Professional Services 0.2%
ALS Ltd.		43,104		185,418
Brambles Ltd.		328,804		2,727,765
Downer EDI Ltd.		124,822		458,103
Recall Holdings Ltd.		65,698		356,065
Seek Ltd.		51,186		746,615
				4,473,966
Consumer Services 0.1%
Aristocrat Leisure Ltd.		54,778		304,362
Crown Resorts Ltd.		122,128		1,498,918
Echo Entertainment Group Ltd.		145,476		455,681
Flight Centre Travel Group Ltd.		12,572		433,822
Tabcorp Holdings Ltd.		71,337		248,415
Tatts Group Ltd.		243,358		708,278
				3,649,476
Diversified Financials 0.2%
ASX Ltd.		44,357		1,362,913
Challenger Ltd.		84,412		457,490
IOOF Holdings Ltd.		76,330		593,495
Macquarie Group Ltd.		59,306		2,957,591
Perpetual Ltd.		4,490		185,403
				5,556,892
Energy 0.3%
Caltex Australia Ltd.		10,776		278,219
New Hope Corp., Ltd.		35,022		71,739
Oil Search Ltd.		233,735		1,589,958
Origin Energy Ltd.		207,584		2,170,369
Santos Ltd.		161,640		1,393,393
Whitehaven Coal Ltd. *		231,156		244,642
Woodside Petroleum Ltd.		109,556		3,342,842
				9,091,162
Food & Staples Retailing 0.5%
Wesfarmers Ltd. *		200,393		7,084,294
Woolworths Ltd.		237,970		6,320,703
				13,404,997
Food, Beverage & Tobacco 0.1%
Coca-Cola Amatil Ltd.		107,760		840,635
Treasury Wine Estates Ltd.		83,616		338,276
				1,178,911
Health Care Equipment & Services 0.1%
Ansell Ltd.		17,960		319,607
Cochlear Ltd.		6,286		373,143
Ramsay Health Care Ltd.		26,940		1,245,087
Sonic Healthcare Ltd.		85,310		1,270,571
				3,208,408
Insurance 0.4%
AMP Ltd.		511,905		2,464,178
Insurance Australia Group Ltd.		461,572		2,509,473
QBE Insurance Group Ltd.		173,314		1,606,449
Suncorp Group Ltd.		228,233		2,793,387
				9,373,487
Materials 1.1%
Adelaide Brighton Ltd.		101,474		297,066
Alumina Ltd. *		353,812		504,304
Amcor Ltd.		306,218		3,178,102
Arrium Ltd.		421,162		86,271
BHP Billiton Ltd.		561,250		14,811,513
BlueScope Steel Ltd. *		108,658		459,061
Boral Ltd.		133,877		558,751
CSR Ltd.		211,928		629,465
DuluxGroup Ltd.		61,962		301,971
Fortescue Metals Group Ltd.		335,852		842,750
Gunns Ltd. *(b)(c)		346,320		—
Iluka Resources Ltd.		108,658		635,266
Incitec Pivot Ltd.		348,424		847,533
James Hardie Industries plc CDI		44,072		455,147
Newcrest Mining Ltd. *		123,924		1,093,653
Orica Ltd.		61,962		962,499
Orora Ltd.		321,069		491,888

1

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
OZ Minerals Ltd.		90,698		263,197
Rio Tinto Ltd.		93,721		4,727,461
Sims Metal Management Ltd.		34,124		309,306
				31,455,204
Media 0.0%
Fairfax Media Ltd.		506,735		320,049
REA Group Ltd.		6,286		243,683
Seven West Media Ltd.		95,188		128,364
Ten Network Holdings Ltd. *		279,278		58,399
				750,495
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
CSL Ltd.		93,392		6,581,662
Real Estate 0.5%
Dexus Property Group		258,473		1,568,514
Goodman Group		161,819		752,713
Lend Lease Group		126,659		1,657,226
Mirvac Group		581,006		870,285
Novion Property Group		533,412		969,719
Scentre Group *		868,790		2,573,048
Stockland		525,330		1,847,281
The GPT Group		381,722		1,348,811
Westfield Corp.		362,792		2,566,941
				14,154,538
Retailing 0.0%
Harvey Norman Holdings Ltd.		121,230		381,804
Software & Services 0.1%
Computershare Ltd.		114,944		1,133,109
Telecommunication Services 0.1%
Telstra Corp., Ltd.		744,442		3,615,320
TPG Telecom Ltd.		32,328		204,456
				3,819,776
Transportation 0.2%
Asciano Ltd.		181,396		910,351
Aurizon Holdings Ltd.		323,664		1,273,500
Macquarie Atlas Roads Group		167,028		437,654
Sydney Airport		64,810		245,600
Toll Holdings Ltd.		65,554		315,560
Transurban Group		403,649		2,862,915
				6,045,580
Utilities 0.1%
AGL Energy Ltd.		158,370		1,772,063
APA Group		63,758		428,266
AusNet Services		206,540		232,692
				2,433,021
				179,580,602
Austria 0.2%
Banks 0.1%
Erste Group Bank AG		52,464		1,424,504
Raiffeisen Bank International AG		9,928		205,949
				1,630,453
Capital Goods 0.0%
ANDRITZ AG		8,377		453,861
Strabag SE		9,878		227,755
				681,616
Energy 0.0%
OMV AG		32,328		937,417
Insurance 0.0%
Vienna Insurance Group AG Wiener Versicherung Gruppe		8,082		403,067
Materials 0.1%
Voestalpine AG		33,226		1,383,467
Telecommunication Services 0.0%
Telekom Austria AG		20,881		142,782
				5,178,802
Belgium 1.1%
Banks 0.1%
KBC Groep N.V. *		52,331		3,000,967
Diversified Financials 0.1%
Groupe Bruxelles Lambert S.A.		16,164		1,465,974
Food & Staples Retailing 0.1%
Colruyt S.A.		17,960		837,380
Delhaize Group S.A.		8,082		592,334
				1,429,714
Food, Beverage & Tobacco 0.4%
Anheuser-Busch InBev N.V.		138,535		16,313,677
Insurance 0.1%
Ageas		50,472		1,809,605
Materials 0.1%
Solvay S.A.		6,286		865,927
Umicore S.A.		19,756		805,362
				1,671,289
Media 0.0%
Telenet Group Holding N.V. *		13,470		771,945
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
UCB S.A.		26,042		2,047,908
Telecommunication Services 0.1%
Belgacom S.A.		35,022		1,385,992
				29,897,071
Canada 8.2%
Automobiles & Components 0.1%
Magna International, Inc.		40,430		4,336,408
Banks 2.4%
Bank of Montreal		109,556		8,057,326
Canadian Imperial Bank of Commerce		77,298		7,218,999
National Bank of Canada		37,716		1,757,379
Royal Bank of Canada		262,256		19,126,691
The Bank of Nova Scotia		218,214		13,491,854
The Toronto-Dominion Bank		359,200		18,151,374
				67,803,623
Capital Goods 0.1%
Bombardier, Inc., B Shares		314,300		1,201,796
Finning International, Inc.		45,050		1,002,340
SNC-Lavalin Group, Inc.		10,781		408,643
				2,612,779

2 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Consumer Services 0.1%
Tim Hortons, Inc.		19,806		1,655,523
Diversified Financials 0.1%
CI Financial Corp.		35,920		1,066,968
IGM Financial, Inc.		25,152		1,048,211
				2,115,179
Energy 1.7%
ARC Resources Ltd.		39,375		933,743
Cameco Corp.		51,231		955,204
Canadian Natural Resources Ltd.		194,044		6,459,908
Canadian Oil Sands Ltd.		89,800		1,145,093
Cenovus Energy, Inc.		123,273		2,775,197
Crescent Point Energy Corp.		70,431		1,833,275
Enbridge, Inc.		174,212		8,021,162
Encana Corp.		137,677		2,175,786
Husky Energy, Inc.		82,616		1,751,945
Imperial Oil Ltd.		68,248		2,967,538
Inter Pipeline Ltd.		37,716		1,078,970
MEG Energy Corp. *		14,368		233,996
Pacific Rubiales Energy Corp.		40,445		391,947
Pembina Pipeline Corp.		47,148		1,610,950
Penn West Petroleum Ltd.		89,800		320,531
Suncor Energy, Inc.		249,997		7,917,028
Talisman Energy, Inc.		179,600		858,426
Tourmaline Oil Corp. *		25,144		837,950
TransCanada Corp.		127,678		6,096,967
				48,365,616
Food & Staples Retailing 0.2%
Alimentation Couche-Tard, Inc., B Shares		40,905		1,452,885
George Weston Ltd.		7,272		642,538
Loblaw Cos. Ltd.		46,206		2,492,551
Metro, Inc.		15,341		1,201,583
				5,789,557
Food, Beverage & Tobacco 0.1%
Saputo, Inc.		55,958		1,626,843
Health Care Equipment & Services 0.1%
Catamaran Corp. *		33,241		1,684,133
Insurance 0.7%
Fairfax Financial Holdings Ltd.		1,573		801,502
Great-West Lifeco, Inc.		83,514		2,480,701
Intact Financial Corp.		15,266		1,062,763
Manulife Financial Corp.		320,618		6,402,519
Power Corp. of Canada		89,800		2,554,013
Power Financial Corp.		67,350		2,111,609
Sun Life Financial, Inc.		89,800		3,341,560
				18,754,667
Materials 0.8%
Agnico Eagle Mines Ltd.		35,051		820,137
Agrium, Inc.		23,634		2,287,850
Barrick Gold Corp.		222,704		2,644,518
Eldorado Gold Corp.		134,700		842,281
First Quantum Minerals Ltd.		105,141		1,715,082
Franco-Nevada Corp.		32,328		1,622,000
Goldcorp, Inc.		143,375		2,816,575
Kinross Gold Corp. *		209,545		582,554
Potash Corp. of Saskatchewan, Inc.		152,930		5,272,246
Silver Wheaton Corp.		62,021		1,228,182
Teck Resources Ltd., Class B		98,173		1,518,765
Turquoise Hill Resources Ltd. *		117,638		383,787
Yamana Gold, Inc.		155,720		564,020
				22,297,997
Media 0.2%
Shaw Communications, Inc., B Shares		89,800		2,431,156
Thomson Reuters Corp.		89,800		3,591,213
				6,022,369
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Valeant Pharmaceuticals International, Inc. *		55,332		8,074,760
Real Estate 0.2%
Brookfield Asset Management, Inc., Class A		107,393		5,414,623
Retailing 0.1%
Canadian Tire Corp. Ltd., Class A		14,368		1,616,801
Software & Services 0.1%
CGI Group, Inc., Class A *		58,485		2,137,825
Technology Hardware & Equipment 0.0%
BlackBerry Ltd. *		94,599		983,116
Telecommunication Services 0.2%
BCE, Inc.		71,940		3,365,297
Rogers Communications, Inc., B Shares		77,730		3,120,107
				6,485,404
Transportation 0.6%
Canadian National Railway Co.		140,088		9,979,696
Canadian Pacific Railway Ltd.		29,907		5,784,949
				15,764,645
Utilities 0.1%
Canadian Utilities Ltd., Class A		40,410		1,416,166
Fortis, Inc.		42,508		1,513,922
				2,930,088
				226,471,956
Denmark 1.4%
Banks 0.2%
Danske Bank A/S		163,436		4,654,970
Jyske Bank A/S *		1,796		92,949
				4,747,919
Capital Goods 0.1%
Rockwool International A/S, B Shares		2,694		335,357
Vestas Wind Systems A/S *		42,206		1,558,497
				1,893,854
Commercial & Professional Services 0.0%
ISS A/S *		17,960		508,526
Consumer Durables & Apparel 0.1%
Pandora A/S		26,042		2,316,803
Food, Beverage & Tobacco 0.1%
Carlsberg A/S, B Shares		24,246		2,165,148
Health Care Equipment & Services 0.1%
Coloplast A/S, Class B		22,475		1,952,399

3

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
William Demant Holding A/S *		5,388		387,443
				2,339,842
Materials 0.1%
Chr Hansen Holding A/S		16,164		685,969
Novozymes A/S, B Shares		52,084		2,294,115
				2,980,084
Pharmaceuticals, Biotechnology & Life Sciences 0.6%
H. Lundbeck A/S		4,490		100,802
Novo Nordisk A/S, B Shares		350,245		16,013,849
				16,114,651
Telecommunication Services 0.0%
TDC A/S		68,628		557,652
Transportation 0.1%
AP Moller - Maersk A/S, A Shares		500		1,024,511
AP Moller - Maersk A/S, B Shares		992		2,074,181
DSV A/S		44,002		1,381,536
				4,480,228
				38,104,707
Finland 0.8%
Automobiles & Components 0.0%
Nokian Renkaat Oyj		25,144		711,862
Capital Goods 0.2%
Kone Oyj, B Shares		73,890		3,408,253
Metso Oyj		8,127		252,579
Wartsila Oyj Abp		39,512		1,774,259
				5,435,091
Energy 0.0%
Neste Oil Oyj		34,124		811,676
Food & Staples Retailing 0.0%
Kesko Oyj, B Shares		10,776		420,615
Insurance 0.2%
Sampo Oyj, A Shares		82,651		4,087,471
Materials 0.1%
Stora Enso Oyj, R Shares		138,292		1,228,362
UPM-Kymmene Oyj		106,862		1,778,480
				3,006,842
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Orion Oyj, Class B		11,674		401,383
Technology Hardware & Equipment 0.2%
Nokia Oyj		671,997		5,604,513
Utilities 0.1%
Fortum Oyj		67,435		1,696,489
				22,175,942
France 7.9%
Automobiles & Components 0.3%
Cie Generale des Etablissements Michelin		36,818		3,394,242
Peugeot S.A. *		72,363		929,176
Renault S.A.		33,553		2,698,796
Valeo S.A.		14,368		1,772,379
				8,794,593
Banks 0.8%
BNP Paribas S.A.		180,498		11,601,916
Credit Agricole S.A.		194,866		2,746,319
Natixis S.A.		61,064		432,545
Societe Generale S.A.		126,618		6,296,568
				21,077,348
Capital Goods 1.3%
Airbus Group N.V.		101,474		6,197,991
Alstom S.A. *		44,900		1,574,285
Bouygues S.A.		24,246		914,496
Compagnie de Saint-Gobain		82,616		3,804,569
Eiffage S.A.		3,592		175,245
Legrand S.A.		50,637		2,661,733
Rexel S.A.		37,716		700,107
Safran S.A.		55,676		3,611,322
Schneider Electric SE		98,011		8,015,361
Thales S.A.		13,470		716,530
Vallourec S.A.		21,552		716,430
Vinci S.A.		79,922		4,331,620
Zodiac Aerospace		35,920		1,193,378
				34,613,067
Commercial & Professional Services 0.1%
Bureau Veritas S.A.		53,880		1,288,647
Edenred		35,920		1,038,440
Societe BIC S.A.		7,412		990,546
				3,317,633
Consumer Durables & Apparel 0.5%
Christian Dior S.A.		10,776		2,068,820
Hermes International		1,796		602,846
Kering		14,388		2,979,302
LVMH Moet Hennessy Louis Vuitton S.A.		43,119		7,767,494
				13,418,462
Consumer Services 0.1%
Accor S.A.		40,410		1,911,056
Sodexo S.A.		16,184		1,636,659
				3,547,715
Diversified Financials 0.0%
Eurazeo S.A.		8,134		567,347
Wendel S.A.		6,286		742,503
				1,309,850
Energy 0.8%
Technip S.A.		19,756		1,288,087
Total S.A.		365,486		20,498,928
				21,787,015
Food & Staples Retailing 0.2%
Carrefour S.A.		111,352		3,532,197
Casino Guichard Perrachon S.A.		11,674		1,127,742
				4,659,939
Food, Beverage & Tobacco 0.4%
Danone S.A.		96,984		6,861,363
Pernod-Ricard S.A.		37,751		4,485,505
				11,346,868
Health Care Equipment & Services 0.2%
BioMerieux		3,592		379,284

4 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Essilor International S.A.		38,743		4,361,395
				4,740,679
Household & Personal Products 0.2%
L’Oreal S.A.		39,512		6,758,145
Insurance 0.3%
AXA S.A.		345,730		8,367,946
CNP Assurances		23,348		433,400
SCOR SE		25,144		786,465
				9,587,811
Materials 0.4%
Air Liquide S.A.		63,154		7,967,568
Arkema S.A.		8,980		612,586
Imerys S.A.		6,286		476,455
Lafarge S.A.		35,022		2,496,488
				11,553,097
Media 0.2%
Eutelsat Communications S.A.		22,450		744,322
JCDecaux S.A.		9,878		325,716
Numericable-SFR *		30,476		1,276,941
Publicis Groupe S.A.		24,246		1,785,163
SES S.A.		60,166		2,244,177
Societe Television Francaise 1		28,736		459,798
				6,836,117
Pharmaceuticals, Biotechnology & Life Sciences 0.7%
Ipsen S.A.		10,776		570,470
Sanofi		205,642		19,960,464
				20,530,934
Real Estate 0.1%
Fonciere Des Regions		6,286		601,603
Gecina S.A.		8,980		1,217,447
Klepierre		16,164		727,244
				2,546,294
Semiconductors & Semiconductor Equipment 0.0%
STMicroelectronics N.V.		128,414		964,846
Software & Services 0.2%
AtoS		11,674		831,435
Cap Gemini S.A.		26,042		1,913,177
Dassault Systemes S.A.		27,000		1,769,482
				4,514,094
Technology Hardware & Equipment 0.1%
Alcatel-Lucent *		525,330		1,874,986
Telecommunication Services 0.5%
Iliad S.A.		3,592		884,398
Orange S.A.		338,546		5,978,314
Vivendi S.A. *		237,232		6,056,861
				12,919,573
Transportation 0.1%
Aeroports de Paris		7,184		883,861
Air France-KLM *		30,057		317,600
Bollore S.A.		1,796		888,876
Groupe Eurotunnel S.A. - Reg’d		76,330		989,155
				3,079,492
Utilities 0.4%
Electricite de France S.A.		52,982		1,590,154
GDF Suez		234,378		5,789,690
Suez Environnement Co.		68,248		1,213,260
Veolia Environnement S.A.		87,106		1,592,482
				10,185,586
				219,964,144
Germany 7.3%
Automobiles & Components 1.0%
Bayerische Motoren Werke AG		55,250		6,333,276
Continental AG		18,858		3,977,777
Daimler AG - Reg’d		179,640		15,183,684
Volkswagen AG		4,490		1,018,177
				26,512,914
Banks 0.1%
Commerzbank AG *		196,662		3,016,800
Capital Goods 0.8%
Brenntag AG		11,674		644,569
GEA Group AG		38,614		1,849,948
HOCHTIEF AG		11,674		881,790
MAN SE		13,525		1,545,305
OSRAM Licht AG *		15,266		635,647
Siemens AG - Reg’d		140,088		16,618,805
				22,176,064
Consumer Durables & Apparel 0.1%
adidas AG		43,104		3,465,945
Puma SE		1,796		412,085
				3,878,030
Diversified Financials 0.4%
Deutsche Bank AG - Reg’d		258,624		8,474,639
Deutsche Boerse AG		35,052		2,567,232
				11,041,871
Food & Staples Retailing 0.1%
METRO AG *		35,920		1,222,932
Health Care Equipment & Services 0.3%
Celesio AG		15,266		510,040
Fresenius Medical Care AG & Co. KGaA		42,206		3,124,870
Fresenius SE & Co. KGaA		75,432		4,099,555
				7,734,465
Household & Personal Products 0.1%
Beiersdorf AG		14,368		1,282,131
Henkel AG & Co. KGaA		26,042		2,585,533
				3,867,664
Insurance 0.8%
Allianz SE - Reg’d		80,820		13,949,422
Hannover Rueck SE		11,674		1,044,351
Muenchener Rueckversicherungs-Gesellschaft AG - Reg’d		33,246		6,865,549
				21,859,322
Materials 1.1%
BASF SE		167,926		15,284,270
Fuchs Petrolub SE		8,980		362,435
HeidelbergCement AG		37,716		2,866,726
K+S AG		35,928		1,080,998
LANXESS AG		14,368		715,310
Linde AG		35,022		6,625,430
ThyssenKrupp AG *		85,052		2,255,789

5

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Wacker Chemie AG		3,592		417,078
				29,608,036
Media 0.1%
Axel Springer SE		10,776		636,162
Kabel Deutschland Holding AG *		7,219		1,003,901
ProSiebenSat.1 Media AG - Reg’d		23,348		999,818
RTL Group S.A. *		6,286		606,854
				3,246,735
Pharmaceuticals, Biotechnology & Life Sciences 0.9%
Bayer AG - Reg’d		148,210		22,347,441
Merck KGaA		23,348		2,330,870
QIAGEN N.V. *		42,206		1,011,018
				25,689,329
Real Estate 0.0%
Deutsche Wohnen AG		40,957		985,695
Retailing 0.0%
Fielmann AG		5,388		364,663
Semiconductors & Semiconductor Equipment 0.1%
Infineon Technologies AG		209,234		2,054,909
Software & Services 0.5%
SAP SE		160,956		11,373,167
United Internet AG - Reg’d		17,304		764,189
Wirecard AG		28,736		1,222,664
				13,360,020
Telecommunication Services 0.4%
Deutsche Telekom AG - Reg’d		579,210		9,892,386
Telefonica Deutschland Holding AG *		70,434		370,280
				10,262,666
Transportation 0.2%
Deutsche Lufthansa AG - Reg’d		40,410		723,164
Deutsche Post AG - Reg’d		158,048		5,263,669
Fraport AG Frankfurt Airport Services Worldwide		8,082		494,854
				6,481,687
Utilities 0.3%
E.ON SE		354,710		6,303,548
RWE AG		88,902		3,228,468
				9,532,016
				202,895,818
Greece 0.1%
Banks 0.1%
Alpha Bank AE *		579,607		377,180
National Bank of Greece S.A. *		392,438		939,327
Piraeus Bank S.A. *		292,888		445,457
				1,761,964
Consumer Services 0.0%
OPAP S.A.		30,562		384,049
Telecommunication Services 0.0%
Hellenic Telecommunications Organization S.A. *		38,631		474,369
				2,620,382
Hong Kong 3.3%
Automobiles & Components 0.0%
Xinyi Glass Holdings Ltd.		456,000		244,611
Banks 0.3%
Bank of East Asia Ltd.		232,200		973,114
BOC Hong Kong Holdings Ltd.		898,000		3,172,818
Hang Seng Bank Ltd.		179,600		2,992,175
				7,138,107
Capital Goods 0.3%
China Rongsheng Heavy Industries Group Holdings Ltd. *		724,000		98,961
Hopewell Holdings Ltd.		449,000		1,641,412
Hutchison Whampoa Ltd.		278,000		3,484,410
Jardine Matheson Holdings Ltd.		32,600		2,028,698
Jardine Strategic Holdings Ltd.		20,000		731,800
Johnson Electric Holdings Ltd.		202,250		782,398
Shun Tak Holdings Ltd.		292,000		147,224
				8,914,903
Consumer Durables & Apparel 0.1%
Global Brands Group Holding Ltd. *		694,000		154,819
Li & Fung Ltd.		694,000		771,409
Prada S.p.A.		31,200		201,965
Samsonite International S.A.		270,900		901,253
Techtronic Industries Co., Ltd.		449,000		1,435,874
Texwinca Holdings Ltd.		108,000		99,575
Yue Yuen Industrial Holdings Ltd.		40,000		143,391
				3,708,286
Consumer Services 0.3%
China Travel International Investment Hong Kong Ltd.		1,796,000		620,668
Galaxy Entertainment Group Ltd.		305,000		2,082,495
Melco International Development Ltd.		105,000		248,588
MGM China Holdings Ltd.		154,000		465,674
Sands China Ltd.		408,300		2,445,588
Shangri-La Asia Ltd.		48,000		66,476
SJM Holdings Ltd.		228,000		452,766
Wynn Macau Ltd.		359,200		1,171,858
				7,554,113
Diversified Financials 0.2%
Hong Kong Exchanges & Clearing Ltd.		253,900		5,529,814
Energy 0.0%
Brightoil Petroleum Holdings Ltd. *		1,796,000		574,349
Food, Beverage & Tobacco 0.1%
China Mengniu Dairy Co., Ltd.		174,000		705,648
Tingyi Cayman Islands Holding Corp.		226,000		537,387
Want Want China Holdings Ltd.		1,117,000		1,466,288
				2,709,323
Insurance 0.5%
AIA Group Ltd.		2,179,400		12,590,215
Materials 0.0%
Huabao International Holdings Ltd.		364,000		322,461

6 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Shougang Fushan Resources Group Ltd.		516,000		123,760
United Co. RUSAL plc *		385,000		288,936
				735,157
Media 0.0%
Television Broadcasts Ltd.		89,800		508,346
Real Estate 0.9%
Cheung Kong (Holdings) Ltd.		242,000		4,440,567
Great Eagle Holdings Ltd.		50,000		168,279
Hang Lung Group Ltd.		177,000		852,476
Hang Lung Properties Ltd.		325,000		976,467
Henderson Land Development Co., Ltd.		194,700		1,305,532
Hongkong Land Holdings Ltd.		194,000		1,342,480
Hysan Development Co., Ltd.		106,000		490,019
Kerry Properties Ltd.		133,000		479,349
New World China Land Ltd.		318,000		196,828
New World Development Co., Ltd.		898,000		1,072,273
Shui On Land Ltd.		1,347,000		335,230
Sino Land Co., Ltd.		476,000		780,750
Sun Hung Kai Properties Ltd.		283,000		4,138,259
Swire Pacific Ltd., Class A		141,000		1,938,182
Swire Properties Ltd.		359,200		1,116,276
The Link REIT		449,000		2,860,168
The Wharf Holdings Ltd.		273,000		1,969,613
Wheelock & Co., Ltd.		120,000		603,482
				25,066,230
Retailing 0.1%
Chow Tai Fook Jewellery Group Ltd.		363,200		506,747
Esprit Holdings Ltd.		449,000		585,929
L’Occitane International S.A.		20,750		53,514
Parkson Retail Group Ltd.		1,796,000		493,292
Sa Sa International Holdings Ltd. (a)		458,000		344,312
				1,983,794
Semiconductors & Semiconductor Equipment 0.0%
ASM Pacific Technology Ltd.		38,300		389,914
Semiconductor Manufacturing International Corp. *(a)		7,184,000		741,096
Xinyi Solar Holdings Ltd.		456,000		131,126
				1,262,136
Technology Hardware & Equipment 0.1%
AAC Technologies Holdings, Inc.		68,000		400,284
FIH Mobile Ltd. *		898,000		466,659
VTech Holdings Ltd.		38,900		541,239
				1,408,182
Telecommunication Services 0.0%
Alibaba Health Information Technology Ltd. *		166,000		116,874
PCCW Ltd.		898,000		602,141
				719,015
Transportation 0.1%
Hopewell Highway Infrastructure Ltd.		22,200		10,763
Kerry Logistics Network Ltd.		32,750		53,211
MTR Corp., Ltd.		449,000		1,803,527
				1,867,501
Utilities 0.3%
Cheung Kong Infrastructure Holdings Ltd.		72,000		532,921
CLP Holdings Ltd.		249,500		2,170,055
Hong Kong & China Gas Co., Ltd.		1,226,330		2,906,505
Power Assets Holdings Ltd.		202,500		1,933,607
				7,543,088
				90,057,170
Ireland 0.2%
Banks 0.1%
Bank of Ireland *		5,792,100		2,382,837
Food, Beverage & Tobacco 0.1%
Kerry Group plc, A Shares		27,838		2,071,496
Materials 0.0%
Smurfit Kappa Group plc		35,920		834,245
Transportation 0.0%
Ryanair Holdings plc *		56,689		605,088
				5,893,666
Israel 0.6%
Banks 0.1%
Bank Hapoalim B.M.		204,744		1,020,148
Bank Leumi Le-Israel *		175,110		617,306
First International Bank of Israel Ltd.		24,246		335,423
Israel Discount Bank Ltd., A Shares *		164,340		268,334
Mizrahi Tefahot Bank Ltd. *		19,756		209,086
				2,450,297
Energy 0.0%
Delek Group Ltd.		898		304,125
Food, Beverage & Tobacco 0.0%
Osem Investments Ltd.		11,674		221,313
Materials 0.0%
Israel Chemicals Ltd.		91,596		625,116
The Israel Corp., Ltd. *		898		440,061
				1,065,177
Pharmaceuticals, Biotechnology & Life Sciences 0.4%
Teva Pharmaceutical Industries Ltd.		169,872		9,658,158
Real Estate 0.0%
Azrieli Group		7,184		236,665
Gazit-Globe Ltd.		13,470		157,247
				393,912
Software & Services 0.0%
NICE-Systems Ltd.		8,980		425,776
Telecommunication Services 0.1%
Bezeq The Israeli Telecommunication Corp., Ltd.		474,336		838,510
Cellcom Israel Ltd. *		22,450		209,547
Partner Communications Co., Ltd. *		37,716		230,112
				1,278,169
				15,796,927

7

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Italy 2.1%
Automobiles & Components 0.1%
Fiat Chrysler Automobiles N.V. *		146,707		1,834,409
Pirelli & C. S.p.A.		81,718		1,162,379
				2,996,788
Banks 0.6%
Banca Monte dei Paschi di Siena S.p.A. *		748,932		605,943
Banco Popolare SC *		70,438		973,829
Intesa Sanpaolo S.p.A.		2,180,344		6,735,514
UniCredit S.p.A.		781,463		5,791,682
Unione di Banche Italiane S.C.p.A.		146,374		1,127,708
				15,234,676
Capital Goods 0.1%
CNH Industrial N.V.		158,946		1,247,354
Finmeccanica S.p.A. *		55,676		541,386
Prysmian S.p.A.		24,418		439,868
				2,228,608
Consumer Durables & Apparel 0.1%
Luxottica Group S.p.A.		37,389		2,004,272
Diversified Financials 0.1%
EXOR S.p.A.		25,144		1,122,178
Mediobanca S.p.A.		105,066		943,060
				2,065,238
Energy 0.4%
Eni S.p.A.		441,816		8,851,191
Saipem S.p.A. *		53,880		773,121
Tenaris S.A.		82,616		1,369,810
				10,994,122
Food, Beverage & Tobacco 0.0%
Parmalat S.p.A.		211,030		637,181
Insurance 0.2%
Assicurazioni Generali S.p.A.		220,908		4,789,117
Mediolanum S.p.A.		22,450		156,169
UnipolSai S.p.A		79,922		229,160
				5,174,446
Materials 0.0%
Buzzi Unicem S.p.A.		14,368		215,480
Media 0.0%
Mediaset S.p.A. *		157,150		637,103
Telecommunication Services 0.1%
Telecom Italia S.p.A. *		1,969,774		2,224,790
Telecom Italia S.p.A. - RSP		1,163,808		1,033,738
				3,258,528
Transportation 0.1%
Atlantia S.p.A.		90,852		2,296,925
Utilities 0.3%
Enel Green Power S.p.A.		90,698		218,788
Enel S.p.A.		1,324,550		6,406,849
Snam S.p.A.		306,218		1,627,767
Terna Rete Elettrica Nazionale S.p.A.		281,074		1,360,957
				9,614,361
				57,357,728
Japan 19.4%
Automobiles & Components 2.7%
Aisin Seiki Co., Ltd.		25,900		926,364
Bridgestone Corp.		112,800		3,877,218
Daihatsu Motor Co., Ltd.		89,800		1,231,028
Denso Corp.		89,800		4,193,971
Fuji Heavy Industries Ltd.		109,600		3,987,469
Honda Motor Co., Ltd.		310,300		9,337,629
Isuzu Motors Ltd.		76,000		991,903
Koito Manufacturing Co., Ltd.		16,100		505,308
KYB Co., Ltd.		77,000		325,037
Mazda Motor Corp.		74,800		1,932,000
Mitsubishi Motors Corp.		90,300		928,222
NGK Spark Plug Co., Ltd.		44,000		1,323,503
Nissan Motor Co., Ltd.		449,000		4,193,592
NOK Corp.		89,800		2,247,932
Stanley Electric Co., Ltd.		34,700		754,024
Sumitomo Electric Industries Ltd.		179,600		2,335,700
Sumitomo Rubber Industries Ltd.		89,800		1,367,977
Suzuki Motor Corp.		89,800		2,836,964
Toyota Industries Corp.		27,800		1,389,005
Toyota Motor Corp.		475,970		29,331,799
Yamaha Motor Co., Ltd.		89,800		1,908,964
				75,925,609
Banks 1.8%
Aozora Bank Ltd.		297,000		965,935
Fukuoka Financial Group, Inc.		107,000		583,300
Hokuhoku Financial Group, Inc.		493,000		996,925
Mitsubishi UFJ Financial Group, Inc.		2,612,700		15,110,227
Mizuho Financial Group, Inc.		4,490,000		7,736,487
North Pacific Bank Ltd.		179,600		714,254
Resona Holdings, Inc.		449,000		2,424,225
Seven Bank Ltd.		89,800		389,662
Shinsei Bank Ltd.		351,000		659,502
Sumitomo Mitsui Financial Group, Inc.		246,800		9,305,557
Sumitomo Mitsui Trust Holdings, Inc.		898,000		3,733,186
Suruga Bank Ltd.		40,000		759,995
The 77 Bank Ltd.		48,000		251,961
The Bank of Kyoto Ltd.		83,000		697,931
The Bank of Yokohama Ltd.		162,000		913,157
The Chiba Bank Ltd.		130,000		864,220
The Chugoku Bank Ltd.		34,000		476,404
The Gunma Bank Ltd.		29,000		172,507
The Hachijuni Bank Ltd.		131,000		801,331
The Hiroshima Bank Ltd.		38,000		183,781
The Iyo Bank Ltd.		89,800		929,135
The Joyo Bank Ltd.		137,000		691,435
The Juroku Bank Ltd.		104,000		386,435
The Shiga Bank Ltd.		58,000		309,340
The Shizuoka Bank Ltd.		110,000		1,058,432
Yamaguchi Financial Group, Inc.		16,000		160,425
				51,275,749
Capital Goods 2.8%
Amada Co., Ltd.		77,400		698,449
Asahi Glass Co., Ltd.		143,000		690,391
Chiyoda Corp.		13,000		114,791
COMSYS Holdings Corp.		89,800		1,335,443

8 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Daikin Industries Ltd.		49,700		3,297,700
DMG Mori Seiki Co., Ltd.		8,800		105,213
Ebara Corp.		31,000		132,687
FANUC Corp.		35,290		5,952,781
Fuji Electric Co., Ltd.		49,000		215,099
Hino Motors Ltd.		89,800		1,209,843
Hoshizaki Electric Co., Ltd.		4,400		226,145
IHI Corp.		277,000		1,400,345
ITOCHU Corp.		296,500		3,412,554
JGC Corp.		48,000		1,032,717
JTEKT Corp.		50,100		831,166
Kajima Corp.		174,000		687,585
Kawasaki Heavy Industries Ltd.		302,000		1,328,255
Keihan Electric Railway Co., Ltd.		80,000		400,388
Komatsu Ltd.		180,100		4,265,586
Kubota Corp.		207,000		3,235,329
Kurita Water Industries Ltd.		11,600		240,826
LIXIL Group Corp.		58,200		1,237,703
Makita Corp.		20,400		1,024,426
Marubeni Corp.		258,600		1,630,454
Minebea Co., Ltd.		74,000		927,143
MISUMI Group, Inc.		13,500		432,237
Mitsubishi Corp.		269,400		5,095,867
Mitsubishi Electric Corp.		353,000		4,242,781
Mitsubishi Heavy Industries Ltd.		556,000		3,244,602
Mitsui & Co., Ltd.		361,600		4,989,004
Mitsui Engineering & Shipbuilding Co., Ltd.		225,000		430,341
Nabtesco Corp.		7,500		180,035
NGK Insulators Ltd.		39,000		865,863
Nidec Corp.		40,200		2,666,339
Nippon Sheet Glass Co., Ltd. *		200,000		198,846
NSK Ltd.		70,000		881,746
NTN Corp.		56,000		260,926
Obayashi Corp.		91,000		567,384
Shimizu Corp.		137,000		934,996
SMC Corp.		11,000		3,022,370
Sojitz Corp.		449,000		643,131
Sumitomo Corp.		269,400		2,873,661
Taisei Corp.		145,000		757,467
The Japan Steel Works Ltd.		70,000		248,894
THK Co., Ltd.		51,300		1,242,680
Toshiba Corp.		898,000		3,991,195
TOTO Ltd.		67,000		799,924
Toyota Tsusho Corp.		89,800		2,126,115
				76,329,423
Commercial & Professional Services 0.1%
Dai Nippon Printing Co., Ltd.		128,000		1,124,860
Secom Co., Ltd.		34,700		2,006,832
Toppan Printing Co., Ltd.		125,000		805,704
				3,937,396
Consumer Durables & Apparel 0.8%
Asics Corp.		12,100		306,361
Bandai Namco Holdings, Inc.		48,100		1,041,150
Casio Computer Co., Ltd. (a)		47,000		710,435
Haseko Corp.		91,800		763,421
Iida Group Holdings Co., Ltd.		13,500		148,212
Nikon Corp.		89,800		1,280,209
Panasonic Corp.		388,700		5,019,023
Rinnai Corp.		3,600		267,532
Sega Sammy Holdings, Inc.		37,700		519,354
Sekisui Chemical Co., Ltd.		81,000		1,008,021
Sekisui House Ltd.		108,000		1,450,495
Sharp Corp. *(a)		284,000		677,187
Shimano, Inc.		9,900		1,342,967
Sony Corp.		224,600		4,920,251
Sumitomo Forestry Co., Ltd.		89,800		924,595
Wacoal Holdings Corp.		21,000		215,689
Yamaha Corp.		17,200		256,366
				20,851,268
Consumer Services 0.1%
Benesse Holdings, Inc.		26,600		810,203
Oriental Land Co., Ltd.		13,300		2,894,544
Resorttrust, Inc.		22,000		451,734
				4,156,481
Diversified Financials 0.5%
Aiful Corp. *		68,300		264,142
Credit Saison Co., Ltd.		47,300		885,542
Daiwa Securities Group, Inc.		330,000		2,652,290
Jafco Co., Ltd.		3,500		133,589
Japan Exchange Group, Inc.		50,000		1,282,807
Mitsubishi UFJ Lease & Finance Co., Ltd.		179,600		847,420
Nomura Holdings, Inc.		628,600		3,781,610
Okasan Securities Group, Inc.		30,000		240,131
Orient Corp. *		68,300		122,576
ORIX Corp.		227,900		3,006,087
SBI Holdings, Inc.		89,800		1,036,576
Tokai Tokyo Financial Holdings, Inc.		19,400		138,449
Zenkoku Hosho Co., Ltd.		3,700		110,827
				14,502,046
Energy 0.2%
Cosmo Oil Co., Ltd.		125,000		171,673
Idemitsu Kosan Co., Ltd.		8,400		143,320
Inpex Corp.		179,600		1,902,911
Japan Petroleum Exploration Co., Ltd.		6,900		212,491
JX Holdings, Inc.		538,800		2,004,753
Showa Shell Sekiyu K.K.		89,800		748,302
				5,183,450
Food & Staples Retailing 0.4%
Aeon Co., Ltd.		179,600		1,790,174
FamilyMart Co., Ltd.		15,000		553,566
Lawson, Inc.		10,600		653,764
Seven & i Holdings Co., Ltd.		179,600		6,699,912
Sugi Holdings Co., Ltd.		9,700		405,376
Sundrug Co., Ltd.		8,800		357,012
Tsuruha Holdings, Inc.		8,800		496,777
				10,956,581
Food, Beverage & Tobacco 0.8%
Ajinomoto Co., Inc.		106,000		1,978,708
Asahi Group Holdings Ltd.		89,800		2,801,403
Calbee, Inc.		6,300		218,166
Japan Tobacco, Inc.		197,600		6,330,825
Kewpie Corp.		89,800		1,469,365
Kikkoman Corp.		46,000		1,094,527
Kirin Holdings Co., Ltd.		179,600		2,305,435
MEIJI Holdings Co., Ltd.		13,100		1,175,507
NH Foods Ltd.		35,000		702,743

9

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Nisshin Seifun Group, Inc.		79,600		788,052
Nissin Foods Holdings Co., Ltd.		17,000		852,256
Sapporo Holdings Ltd.		52,000		237,469
Suntory Beverage & Food Ltd.		20,000		706,071
Toyo Suisan Kaisha Ltd.		22,200		751,940
Yakult Honsha Co., Ltd.		13,000		690,062
Yamazaki Baking Co., Ltd.		20,000		252,433
				22,354,962
Health Care Equipment & Services 0.2%
Alfresa Holdings Corp.		62,400		720,293
M3, Inc.		19,200		330,340
Miraca Holdings, Inc.		7,200		273,295
Nipro Corp.		42,200		360,896
Olympus Corp. *		42,300		1,539,672
Suzuken Co., Ltd.		16,600		425,193
Sysmex Corp.		20,000		859,418
Terumo Corp.		89,800		2,042,887
				6,551,994
Household & Personal Products 0.3%
Kao Corp.		101,700		3,766,889
Kobayashi Pharmaceutical Co., Ltd.		3,800		219,960
Lion Corp.		48,000		262,881
Pigeon Corp.		4,300		264,844
Shiseido Co., Ltd.		89,800		1,341,117
Unicharm Corp.		55,800		1,277,403
				7,133,094
Insurance 0.5%
MS&AD Insurance Group Holdings, Inc.		89,800		2,096,607
Sompo Japan Nipponkoa Holdings, Inc.		89,800		2,226,368
Sony Financial Holdings, Inc.		31,300		474,966
T&D Holdings, Inc.		179,600		2,176,052
The Dai-ichi Life Insurance Co., Ltd.		179,600		2,605,059
Tokio Marine Holdings, Inc.		115,000		3,760,016
				13,339,068
Materials 1.4%
Air Water, Inc.		49,000		795,164
Asahi Kasei Corp.		275,000		2,391,204
Daicel Corp.		69,000		794,153
Denki Kagaku Kogyo K.K.		38,000		129,671
DIC Corp.		45,000		102,372
Dowa Holdings Co., Ltd.		16,000		132,384
Hitachi Chemical Co., Ltd.		22,000		407,246
Hitachi Metals Ltd.		50,000		864,895
JFE Holdings, Inc.		92,900		1,976,821
JSR Corp.		89,800		1,606,314
Kaneka Corp.		31,000		164,031
Kansai Paint Co., Ltd.		44,000		701,049
Kobe Steel Ltd.		898,000		1,430,021
Kuraray Co. Ltd.		89,800		1,093,323
Maruichi Steel Tube Ltd.		4,600		101,004
Mitsubishi Chemical Holdings Corp.		449,000		2,313,380
Mitsubishi Gas Chemical Co., Inc.		15,000		85,815
Mitsubishi Materials Corp.		136,000		427,417
Mitsui Chemicals, Inc.		91,000		254,556
Mitsui Mining & Smelting Co., Ltd.		67,000		172,179
Nippon Kayaku Co., Ltd.		14,000		171,513
Nippon Paint Holdings Co., Ltd.		48,000		1,241,606
Nippon Paper Industries Co., Ltd.		12,100		176,680
Nippon Shokubai Co., Ltd.		15,000		187,176
Nippon Steel & Sumitomo Metal Corp.		1,796,000		4,627,517
Nissan Chemical Industries Ltd.		11,200		207,231
Nisshin Steel Co., Ltd.		15,900		149,374
Nitto Denko Corp.		32,100		1,693,915
Oji Holdings Corp.		121,000		424,114
Shin-Etsu Chemical Co., Ltd.		89,800		6,045,431
Sumitomo Chemical Co., Ltd.		247,000		934,432
Sumitomo Metal Mining Co., Ltd.		105,000		1,607,490
Sumitomo Osaka Cement Co., Ltd.		50,000		141,130
Taiheiyo Cement Corp.		194,000		608,063
Taiyo Nippon Sanso Corp.		18,000		212,023
Teijin Ltd.		131,000		355,411
Toray Industries, Inc.		265,000		2,083,203
Tosoh Corp.		37,000		170,215
Toyobo Co., Ltd.		109,000		153,372
Ube Industries Ltd.		122,000		174,748
Zeon Corp.		28,000		271,306
				37,578,949
Media 0.1%
Dentsu, Inc.		28,400		1,067,228
Hakuhodo DY Holdings, Inc.		179,600		1,746,290
Shochiku Co., Ltd.		28,000		248,658
Toho Co., Ltd.		21,800		486,016
				3,548,192
Pharmaceuticals, Biotechnology & Life Sciences 1.0%
Astellas Pharma, Inc.		449,000		6,457,792
Chugai Pharmaceutical Co., Ltd.		45,100		1,221,692
Daiichi Sankyo Co., Ltd.		112,800		1,662,751
Eisai Co., Ltd.		49,100		1,760,294
Hisamitsu Pharmaceutical Co., Inc.		10,400		316,333
Kaken Pharmaceutical Co., Ltd.		10,000		212,327
KYORIN Holdings, Inc.		7,400		144,028
Mitsubishi Tanabe Pharma Corp.		89,800		1,369,491
Nippon Shinyaku Co., Ltd.		12,000		349,328
Ono Pharmaceutical Co., Ltd.		13,200		1,129,983
Otsuka Holdings Co., Ltd.		89,800		2,839,234
Rohto Pharmaceutical Co., Ltd.		20,000		260,353
Santen Pharmaceutical Co., Ltd.		8,300		464,355
Sawai Pharmaceutical Co., Ltd.		3,800		225,403
Shionogi & Co., Ltd.		59,400		1,477,931
Sumitomo Dainippon Pharma Co., Ltd.		36,300		375,280
Taisho Pharmaceutical Holdings Co., Ltd.		2,600		161,014
Takeda Pharmaceutical Co., Ltd.		139,000		5,823,044
Tsumura & Co.		8,400		188,900
				26,439,533
Real Estate 0.7%
Aeon Mall Co., Ltd.		8,200		139,839
Daikyo, Inc.		250,000		431,815
Daito Trust Construction Co., Ltd.		11,900		1,343,556
Daiwa House Industry Co., Ltd.		118,800		2,262,690
Hulic Co., Ltd.		45,500		470,009
Mitsubishi Estate Co., Ltd.		209,711		4,720,419
Mitsui Fudosan Co., Ltd.		167,000		4,827,008

10 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Nomura Real Estate Holdings, Inc.		6,500		119,392
NTT Urban Development Corp.		89,800		923,839
Sumitomo Real Estate Sales Co., Ltd.		10,700		237,197
Sumitomo Realty & Development Co., Ltd.		64,000		2,210,086
Tokyo Tatemono Co., Ltd.		67,000		534,600
Tokyu Fudosan Holdings Corp.		89,800		641,618
				18,862,068
Retailing 0.5%
Aoyama Trading Co., Ltd.		19,100		414,556
Don Quijote Holdings Co., Ltd.		11,100		692,084
Fast Retailing Co., Ltd.		8,700		3,167,068
Isetan Mitsukoshi Holdings Ltd.		129,500		1,701,062
J Front Retailing Co., Ltd.		37,000		474,171
Marui Group Co., Ltd.		89,800		786,133
Nitori Holdings Co., Ltd.		13,000		720,731
Rakuten, Inc.		179,600		2,419,686
Ryohin Keikaku Co., Ltd.		2,800		328,163
Sanrio Co., Ltd.		19,400		512,441
Shimamura Co., Ltd.		2,900		242,634
Start Today Co., Ltd.		5,300		114,453
Takashimaya Co., Ltd.		65,000		544,382
USS Co., Ltd.		89,800		1,296,098
Yamada Denki Co., Ltd.		173,600		571,914
				13,985,576
Semiconductors & Semiconductor Equipment 0.1%
Advantest Corp.		72,400		864,395
Disco Corp.		4,400		349,598
Rohm Co., Ltd.		13,500		873,573
Sumco Corp.		18,400		234,564
Tokyo Electron Ltd.		24,400		1,662,576
				3,984,706
Software & Services 0.4%
Dena Co., Ltd.		19,200		237,806
Fujitsu Ltd.		355,000		2,028,272
Gree, Inc.		51,900		348,522
Kakaku.com, Inc.		17,900		273,436
Konami Corp.		24,500		463,020
Nexon Co., Ltd.		24,900		235,814
Nintendo Co., Ltd.		20,800		2,411,493
Nomura Research Institute Ltd.		23,700		738,846
NTT Data Corp.		26,600		1,015,276
Obic Co., Ltd.		19,400		618,688
Otsuka Corp.		14,500		499,073
Square Enix Holdings Co., Ltd.		21,300		416,363
Trend Micro, Inc.		17,000		516,367
Yahoo Japan Corp.		269,400		982,855
				10,785,831
Technology Hardware & Equipment 1.6%
Alps Electric Co., Ltd.		34,300		686,087
Anritsu Corp.		55,400		384,628
Azbil Corp.		7,200		169,801
Brother Industries Ltd.		63,600		1,188,565
Canon, Inc.		197,900		6,338,770
Citizen Holdings Co., Ltd.		32,700		252,927
FUJIFILM Holdings Corp.		89,800		2,977,696
Hamamatsu Photonics K.K.		25,000		1,263,850
Hirose Electric Co., Ltd.		4,200		530,817
Hitachi Ltd.		898,000		6,934,465
Hoya Corp.		89,800		3,192,956
Ibiden Co., Ltd.		6,600		98,039
Japan Aviation Electronics Industry Ltd.		17,000		378,860
Japan Display, Inc. *		97,500		322,029
Keyence Corp.		8,500		3,926,107
Konica Minolta, Inc.		70,000		816,278
Kyocera Corp.		56,000		2,741,846
Murata Manufacturing Co., Ltd.		34,700		3,749,653
NEC Corp.		446,000		1,401,677
Omron Corp.		32,700		1,520,866
Ricoh Co., Ltd.		115,800		1,254,252
Seiko Epson Corp.		26,200		1,264,911
Shimadzu Corp.		29,000		286,860
Taiyo Yuden Co., Ltd.		17,700		200,138
TDK Corp.		20,800		1,253,065
Topcon Corp.		5,100		113,400
Yaskawa Electric Corp.		44,000		570,923
Yokogawa Electric Corp.		90,800		1,142,985
				44,962,451
Telecommunication Services 0.9%
KDDI Corp.		94,700		6,067,311
Nippon Telegraph & Telephone Corp.		67,100		3,590,615
NTT DOCOMO, Inc.		269,400		4,202,672
SoftBank Corp.		164,100		11,010,054
				24,870,652
Transportation 1.0%
Central Japan Railway Co.		35,500		5,167,144
East Japan Railway Co.		89,800		6,731,690
Hankyu Hanshin Holdings, Inc.		219,000		1,204,929
Japan Airlines Co., Ltd.		17,300		508,716
Kawasaki Kisen Kaisha Ltd.		135,000		353,751
Keikyu Corp.		100,000		764,208
Keio Corp.		145,000		1,066,563
Kintetsu Corp.		332,000		1,121,726
Mitsui OSK Lines Ltd.		312,000		988,431
Nagoya Railroad Co., Ltd.		100,000		387,581
Nippon Express Co., Ltd.		108,000		518,684
Nippon Yusen K.K.		320,000		903,231
Odakyu Electric Railway Co., Ltd.		90,000		824,283
Tobu Railway Co., Ltd.		229,000		1,032,270
Tokyu Corp.		192,000		1,159,911
West Japan Railway Co.		47,400		2,262,867
Yamato Holdings Co., Ltd.		89,800		2,025,863
				27,021,848
Utilities 0.5%
Chubu Electric Power Co., Inc. *		179,600		2,100,390
Electric Power Development Co., Ltd.		11,000		380,924
Hokkaido Electric Power Co., Inc. *		31,700		259,615
Hokuriku Electric Power Co.		89,800		1,149,313
Kyushu Electric Power Co., Inc. *		89,800		920,056
Osaka Gas Co., Ltd.		281,000		1,074,659
The Chugoku Electric Power Co., Inc.		90,400		1,166,894
The Kansai Electric Power Co., Inc. *		179,600		1,802,280
Toho Gas Co., Ltd.		135,000		708,640
Tohoku Electric Power Co., Inc.		89,800		1,040,359

11

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Tokyo Electric Power Co., Inc. *		269,400		985,125
Tokyo Gas Co., Ltd.		352,000		1,919,488
				13,507,743
				538,044,670
Netherlands 2.5%
Banks 0.3%
ING Groep N.V. CVA *		652,846		9,587,391
Capital Goods 0.3%
Boskalis Westminster N.V.		7,184		404,136
Koninklijke Philips N.V.		199,356		6,028,025
OCI N.V. *		11,674		419,647
				6,851,808
Commercial & Professional Services 0.0%
Randstad Holding N.V.		26,042		1,288,383
Energy 0.1%
Koninklijke Vopak N.V.		19,177		965,843
SBM Offshore N.V. *		35,920		486,307
				1,452,150
Food & Staples Retailing 0.1%
Koninklijke Ahold N.V.		118,142		2,092,136
Food, Beverage & Tobacco 0.6%
Heineken Holding N.V.		19,756		1,354,338
Heineken N.V.		49,390		3,894,431
Unilever N.V. CVA		290,099		11,845,905
				17,094,674
Insurance 0.1%
Aegon N.V.		361,894		2,848,142
Materials 0.3%
Akzo Nobel N.V.		41,308		2,861,151
ArcelorMittal		177,804		2,186,669
Koninklijke DSM N.V.		33,226		2,189,938
				7,237,758
Media 0.2%
Altice S.A. *		8,082		545,080
Reed Elsevier N.V.		124,822		3,076,396
Wolters Kluwer N.V.		53,880		1,582,849
				5,204,325
Real Estate 0.2%
Unibail-Rodamco SE		19,756		5,233,622
Semiconductors & Semiconductor Equipment 0.2%
ASML Holding N.V.		64,656		6,845,645
Software & Services 0.0%
Gemalto N.V.		13,470		1,147,255
Telecommunication Services 0.1%
Koninklijke KPN N.V.		541,837		1,803,534
Transportation 0.0%
TNT Express N.V.		80,820		546,088
				69,232,911
New Zealand 0.2%
Consumer Services 0.0%
SKYCITY Entertainment Group Ltd.		167,028		515,290
Health Care Equipment & Services 0.0%
Ryman Healthcare Ltd.		35,022		220,213
Materials 0.0%
Fletcher Building Ltd.		93,392		600,431
Real Estate 0.0%
Kiwi Income Property Trust		457,980		431,417
Software & Services 0.0%
Xero Ltd. *		9,878		131,667
Telecommunication Services 0.1%
Spark New Zealand Ltd.		357,404		858,520
Transportation 0.1%
Auckland International Airport Ltd.		468,756		1,424,058
Utilities 0.0%
Contact Energy Ltd.		121,917		586,671
				4,768,267
Norway 0.6%
Banks 0.1%
DNB A.S.A.		208,336		3,464,411
Energy 0.2%
Akastor A.S.A.		25,179		75,797
Aker Solutions A.S.A. *		25,179		151,307
Seadrill Ltd.		62,860		901,737
Statoil A.S.A.		176,008		3,328,798
Subsea 7 S.A.		61,962		618,218
				5,075,857
Food, Beverage & Tobacco 0.1%
Orkla A.S.A.		179,600		1,338,184
Insurance 0.0%
Gjensidige Forsikring A.S.A.		39,512		678,475
Materials 0.1%
Norsk Hydro A.S.A.		150,864		884,617
Yara International A.S.A.		31,857		1,356,430
				2,241,047
Media 0.0%
Schibsted A.S.A.		16,164		1,064,780
Telecommunication Services 0.1%
Telenor A.S.A.		115,842		2,448,839
				16,311,593
Portugal 0.1%
Banks 0.0%
Banco Comercial Portugues S.A. - Reg’d *		7,530,628		779,209
Banco Espirito Santo S.A. - Reg’d *(b)(c)		505,213		—
				779,209
Energy 0.0%
Galp Energia, SGPS, S.A.		88,902		1,086,130
Telecommunication Services 0.0%
Portugal Telecom, SGPS, S.A. - Reg’d		34,124		64,194

12 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Utilities 0.1%
EDP - Energias de Portugal S.A.		455,286		1,872,453
				3,801,986
Republic of Korea 3.6%
Automobiles & Components 0.4%
Hankook Tire Co., Ltd.		7,937		392,570
Hyundai Mobis Co., Ltd.		12,816		2,857,125
Hyundai Motor Co.		25,146		4,062,579
Hyundai Wia Corp.		2,062		328,483
Kia Motors Corp.		44,164		2,220,258
				9,861,015
Banks 0.4%
BS Financial Group, Inc.		24,800		351,424
Hana Financial Group, Inc.		45,828		1,398,065
KB Financial Group, Inc. ADR		89,800		3,136,714
Kyongnam Bank *		3,021		34,765
Shinhan Financial Group Co., Ltd. ADR		106,092		4,726,398
				9,647,366
Capital Goods 0.3%
CJ Corp.		4,000		584,864
Daelim Industrial Co., Ltd.		3,415		208,053
Daewoo Engineering & Construction Co., Ltd. *		75,000		425,786
Daewoo International Corp.		5,027		155,173
Doosan Corp.		1,746		182,014
Doosan Heavy Industries & Construction Co., Ltd.		14,480		341,106
GS Engineering & Construction Corp. *		5,464		131,921
Hyundai Development Co-Engineering & Construction		6,700		214,676
Hyundai Engineering & Construction Co., Ltd.		20,409		825,239
Hyundai Heavy Industries Co., Ltd.		7,964		887,724
Hyundai Mipo Dockyard Co., Ltd.		1,366		94,811
KCC Corp.		1,332		662,423
KEPCO Engineering & Construction Co., Inc.		2,732		145,483
LG Corp.		13,525		794,691
LG Hausys Ltd.		1,709		238,314
Neo Holdings Co., Ltd. *(b)(c)		1,746		—
Samsung C&T Corp.		25,140		1,631,451
Samsung Engineering Co., Ltd. *		6,147		271,856
Samsung Heavy Industries Co., Ltd.		28,686		559,247
Samsung Techwin Co., Ltd.		4,690		119,160
SK Holdings Co., Ltd.		3,220		494,066
				8,968,058
Commercial & Professional Services 0.0%
S-1 Corp.		6,932		474,250
Consumer Durables & Apparel 0.1%
Coway Co., Ltd.		10,500		818,810
LG Electronics, Inc.		24,304		1,395,130
				2,213,940
Consumer Services 0.0%
Hotel Shilla Co., Ltd.		6,804		549,626
Kangwon Land, Inc.		24,840		733,127
				1,282,753
Diversified Financials 0.1%
Daewoo Securities Co., Ltd. *		53,600		527,316
Korea Investment Holdings Co., Ltd.		13,000		673,496
Samsung Card Co., Ltd.		6,960		301,216
Samsung Securities Co., Ltd.		14,820		660,777
				2,162,805
Energy 0.1%
GS Holdings Corp.		14,877		558,584
S-Oil Corp.		3,415		129,764
SK Innovation Co., Ltd.		9,562		739,621
				1,427,969
Food & Staples Retailing 0.0%
E-Mart Co., Ltd.		4,879		968,798
Food, Beverage & Tobacco 0.1%
CJ CheilJedang Corp.		1,700		541,631
KT&G Corp.		18,630		1,629,358
Lotte Confectionery Co., Ltd.		300		538,833
Orion Corp.		464		409,578
				3,119,400
Household & Personal Products 0.1%
Amorepacific Corp.		704		1,588,519
AMOREPACIFIC Group		700		734,149
LG Household & Health Care Ltd.		2,320		1,304,535
				3,627,203
Insurance 0.2%
Dongbu Insurance Co., Ltd.		12,977		652,393
Hanwha Life Insurance Co., Ltd.		20,000		151,992
Hyundai Marine & Fire Insurance Co., Ltd.		6,000		144,321
Samsung Fire & Marine Insurance Co., Ltd.		6,700		1,874,633
Samsung Life Insurance Co., Ltd.		13,416		1,477,280
				4,300,619
Materials 0.3%
Hanwha Chemical Corp.		9,562		108,742
Hyosung Corp.		7,728		483,371
Korea Zinc Co., Ltd.		1,524		588,032
Kumho Petrochemical Co., Ltd.		4,781		340,899
LG Chem Ltd.		7,620		1,420,217
OCI Co., Ltd. *		3,415		261,993
POSCO ADR		70,232		4,775,776
Samsung Fine Chemicals Co., Ltd.		4,781		147,579
				8,126,609
Media 0.0%
Cheil Worldwide, Inc. *		10,000		168,329
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Celltrion, Inc. *		12,586		452,685
Yuhan Corp.		1,366		214,526
				667,211
Retailing 0.0%
Hyundai Department Store Co., Ltd.		2,016		233,816

13

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Lotte Shopping Co., Ltd.		2,388		646,599
				880,415
Semiconductors & Semiconductor Equipment 0.1%
SK Hynix, Inc. *		92,560		4,014,178
Software & Services 0.2%
Daum Communications Corp.		3,350		443,563
NAVER Corp.		4,748		3,239,756
NCSoft Corp.		2,010		289,359
NHN Entertainment Corp. *		2,478		164,611
Samsung SDS Co., Ltd. *		5,160		1,616,066
SK C&C Co., Ltd.		2,800		563,563
				6,316,918
Technology Hardware & Equipment 0.9%
LG Display Co., Ltd. ADR *		89,800		1,375,736
Samsung Electronics Co., Ltd. GDR		39,195		22,576,320
Samsung SDI Co., Ltd.		11,303		1,367,031
				25,319,087
Telecommunication Services 0.1%
KT Corp. ADR		61,962		914,559
LG Uplus Corp.		37,570		367,918
SK Telecom Co., Ltd. ADR		89,800		2,544,034
				3,826,511
Transportation 0.1%
CJ Korea Express Co., Ltd. *		3,145		557,780
Hyundai Glovis Co., Ltd.		2,135		535,701
Hyundai Merchant Marine Co., Ltd. *		13,216		115,824
Korean Air Lines Co., Ltd. *		4,781		181,238
				1,390,543
Utilities 0.1%
Korea Electric Power Corp. ADR		89,800		1,861,554
Korea Gas Corp. *		3,633		188,544
				2,050,098
				100,814,075
Singapore 1.3%
Banks 0.4%
DBS Group Holdings Ltd.		293,000		4,457,376
Oversea-Chinese Banking Corp., Ltd.		527,250		4,239,034
United Overseas Bank Ltd.		188,000		3,461,450
				12,157,860
Capital Goods 0.2%
COSCO Corp. Singapore Ltd. (a)		436,000		202,363
Keppel Corp., Ltd.		245,000		1,691,599
Noble Group Ltd.		898,181		844,090
Singapore Technologies Engineering Ltd.		432,000		1,116,870
Yangzijiang Shipbuilding Holdings Ltd.		69,000		64,845
				3,919,767
Consumer Services 0.0%
Genting Singapore plc		1,098,000		960,276
Diversified Financials 0.0%
Singapore Exchange Ltd.		32,000		179,701
Food & Staples Retailing 0.0%
Olam International Ltd.		524,000		868,308
Food, Beverage & Tobacco 0.1%
Golden Agri-Resources Ltd.		1,796,000		633,801
Indofood Agri Resources Ltd.		898,000		520,130
Wilmar International Ltd.		266,000		655,052
				1,808,983
Media 0.0%
Singapore Press Holdings Ltd. (a)		270,000		888,608
Real Estate 0.3%
CapitaCommercial Trust		898,000		1,160,821
CapitaLand Ltd.		898,000		2,287,196
CapitaMall Trust		898,000		1,364,050
City Developments Ltd.		84,000		648,285
Global Logistic Properties Ltd.		531,000		1,067,296
Wing Tai Holdings Ltd.		970,000		1,279,939
				7,807,587
Technology Hardware & Equipment 0.0%
Venture Corp., Ltd.		73,000		428,984
Telecommunication Services 0.2%
Singapore Telecommunications Ltd.		1,377,000		4,119,908
Transportation 0.1%
ComfortDelGro Corp., Ltd.		898,000		1,791,178
Hutchison Port Holdings Trust		898,000		615,130
Singapore Post Ltd.		898,000		1,329,605
				3,735,913
				36,875,895
Spain 3.0%
Banks 1.4%
Banco Bilbao Vizcaya Argentaria S.A.		1,015,638		10,936,958
Banco de Sabadell S.A.		664,080		1,888,383
Banco Popular Espanol S.A.		284,121		1,565,561
Banco Santander S.A.		2,137,240		19,314,159
Bankia S.A. *		807,605		1,419,589
Bankinter S.A.		104,168		935,908
CaixaBank S.A.		334,056		1,849,458
				37,910,016
Capital Goods 0.1%
ACS, Actividades de Construccion y Servicios S.A.		35,920		1,272,414
Ferrovial S.A.		90,698		1,863,371
Zardoya Otis S.A.		26,986		288,313
				3,424,098
Diversified Financials 0.0%
Corporacion Financiera Alba S.A.		7,184		366,298
Energy 0.2%
Repsol S.A.		193,968		4,364,673
Food & Staples Retailing 0.0%
Distribuidora Internacional de Alimentacion S.A.		98,780		688,375
Insurance 0.0%
Mapfre S.A.		132,904		488,936

14 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Media 0.0%
Mediaset Espana Comunicacion S.A. *		24,246		298,575
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Grifols S.A.		43,104		1,925,077
Retailing 0.2%
Inditex S.A.		211,130		6,162,948
Software & Services 0.1%
Amadeus IT Holding S.A., A Shares		70,044		2,795,560
Telecommunication Services 0.4%
Telefonica S.A.		720,353		11,566,598
Transportation 0.1%
Abertis Infraestructuras S.A.		67,350		1,444,983
Utilities 0.4%
Acciona S.A. *		5,849		434,145
Enagas S.A.		40,410		1,356,656
Gas Natural SDG S.A.		96,086		2,728,716
Iberdrola S.A.		855,794		6,343,640
Red Electrica Corp. S.A.		14,423		1,324,618
				12,187,775
				83,623,912
Sweden 2.7%
Banks 0.7%
Nordea Bank AB		563,944		7,058,867
Skandinaviska Enskilda Banken AB, A Shares		293,646		3,886,660
Svenska Handelsbanken AB, A Shares		106,862		5,229,732
Swedbank AB, A Shares		157,150		4,130,469
				20,305,728
Capital Goods 0.7%
Alfa Laval AB		63,758		1,271,407
Assa Abloy AB, B Shares		52,414		2,853,862
Atlas Copco AB, A Shares		121,230		3,502,392
Atlas Copco AB, B Shares		78,126		2,079,679
Sandvik AB		167,028		1,752,897
Skanska AB, B Shares		78,126		1,685,999
SKF AB, B Shares		84,412		1,742,254
Trelleborg AB, B Shares		4,490		73,125
Volvo AB, B Shares		264,012		2,894,876
				17,856,491
Commercial & Professional Services 0.0%
Securitas AB, B Shares		88,902		1,075,750
Consumer Durables & Apparel 0.1%
Electrolux AB, Series B		54,778		1,631,143
Husqvarna AB, B Shares		25,260		186,347
				1,817,490
Diversified Financials 0.2%
Industrivarden AB, A Shares		52,084		985,424
Investment AB Kinnevik, B Shares		25,144		874,071
Investor AB, B Shares		96,984		3,650,307
				5,509,802
Energy 0.0%
Lundin Petroleum AB *		35,945		507,642
Food, Beverage & Tobacco 0.1%
Swedish Match AB		59,380		2,054,630
Health Care Equipment & Services 0.1%
Elekta AB, B Shares		25,144		256,782
Getinge AB, B Shares		37,716		874,747
				1,131,529
Household & Personal Products 0.1%
Svenska Cellulosa AB SCA, B Shares		103,270		2,440,935
Materials 0.0%
Boliden AB		34,124		577,759
Holmen AB, B Shares		9,878		333,828
				911,587
Media 0.0%
Modern Times Group MTG AB, B Shares		10,776		343,759
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Meda AB, A Shares		30,532		438,580
Retailing 0.3%
Hennes & Mauritz AB, B Shares		169,200		7,261,920
Technology Hardware & Equipment 0.3%
Hexagon AB, B Shares		44,002		1,401,319
Telefonaktiebolaget LM Ericsson, B Shares		506,472		6,390,535
				7,791,854
Telecommunication Services 0.1%
Tele2 AB, B Shares		81,718		1,060,196
TeliaSonera AB		386,140		2,760,404
				3,820,600
				73,268,297
Switzerland 8.0%
Banks 0.0%
Banque Cantonale Vaudoise - Reg’d		898		493,970
Capital Goods 0.6%
ABB Ltd. - Reg’d *		460,674		10,370,544
Geberit AG - Reg’d		8,980		3,137,175
Schindler Holding AG		10,776		1,541,186
Schindler Holding AG - Reg’d		8,122		1,138,007
Sulzer AG - Reg’d		2,694		301,695
				16,488,607
Commercial & Professional Services 0.2%
Adecco S.A. - Reg’d *		30,532		2,150,074
DKSH Holding AG		7,184		551,382
SGS S.A. - Reg’d		898		1,947,919
				4,649,375
Consumer Durables & Apparel 0.5%
Cie Financiere Richemont S.A. - Reg’d		90,698		8,552,064
The Swatch Group AG		6,286		3,115,272
The Swatch Group AG - Reg’d		13,028		1,202,741
				12,870,077
Diversified Financials 0.8%
Credit Suisse Group AG - Reg’d *		231,460		6,202,696

15

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
GAM Holding AG *		34,124		605,626
Julius Baer Group Ltd. *		53,170		2,415,965
Pargesa Holding S.A.		4,490		358,361
UBS AG - Reg’d *		685,344		12,376,736
				21,959,384
Energy 0.0%
Transocean Ltd.		61,962		1,315,768
Food, Beverage & Tobacco 1.6%
Aryzta AG *		17,062		1,365,314
Chocoladefabriken Lindt & Sprungli AG - Reg’d		14		838,693
Nestle S.A. - Reg’d		579,210		43,613,581
				45,817,588
Health Care Equipment & Services 0.1%
Sonova Holding AG - Reg’d		9,878		1,498,872
Insurance 0.6%
Baloise Holding AG - Reg’d		8,082		1,058,587
Swiss Life Holding AG - Reg’d *		3,193		733,711
Swiss Re AG *		68,248		5,850,840
Zurich Insurance Group AG *		26,940		8,466,458
				16,109,596
Materials 0.5%
Clariant AG - Reg’d *		14,388		261,328
Givaudan S.A. - Reg’d *		2,694		4,814,809
Holcim Ltd. - Reg’d *		38,614		2,859,480
Sika AG		48		183,232
Syngenta AG - Reg’d		17,960		5,933,231
				14,052,080
Pharmaceuticals, Biotechnology & Life Sciences 3.0%
Actelion Ltd. - Reg’d *		20,654		2,463,046
Galenica AG - Reg’d		445		379,878
Lonza Group AG - Reg’d *		7,184		847,019
Novartis AG - Reg’d		420,264		40,783,273
Roche Holding AG		125,720		37,761,669
				82,234,885
Real Estate 0.0%
Swiss Prime Site AG - Reg’d *		13,470		1,041,531
Telecommunication Services 0.1%
Swisscom AG - Reg’d		4,914		2,991,241
Transportation 0.0%
Kuehne & Nagel International AG - Reg’d		8,980		1,212,556
				222,735,530
United Kingdom 18.0%
Automobiles & Components 0.1%
GKN plc		295,442		1,597,624
Banks 2.4%
Barclays plc		2,800,367		10,751,093
HSBC Holdings plc		3,464,484		34,560,798
Lloyds Banking Group plc *		9,691,216		12,194,667
Royal Bank of Scotland Group plc *		353,872		2,190,679
Standard Chartered plc		373,888		5,486,978
				65,184,215
Capital Goods 0.8%
Ashtead Group plc		92,494		1,526,722
BAE Systems plc		606,150		4,566,897
Bunzl plc		48,492		1,356,305
Cobham plc		175,110		827,081
IMI plc		58,821		1,087,898
Meggitt plc		114,944		905,441
Melrose Industries plc		265,808		1,076,887
Rolls-Royce Holdings plc *		358,302		4,727,428
Smiths Group plc		82,616		1,496,936
The Weir Group plc		32,328		949,768
Travis Perkins plc		44,002		1,245,192
Wolseley plc		53,939		3,032,516
				22,799,071
Commercial & Professional Services 0.3%
Aggreko plc		46,089		1,106,484
Babcock International Group plc		62,123		1,106,162
Capita plc		112,250		1,880,944
Experian plc		176,906		2,806,453
G4S plc		255,032		1,103,922
Intertek Group plc		22,450		820,935
Rentokil Initial plc		400,508		747,014
Serco Group plc		64,757		177,777
				9,749,691
Consumer Durables & Apparel 0.3%
Barratt Developments plc		76,119		548,706
Berkeley Group Holdings plc		45,798		1,841,103
Burberry Group plc		108,275		2,797,808
Persimmon plc *		21,208		509,152
Taylor Wimpey plc		628,600		1,321,091
				7,017,860
Consumer Services 0.5%
Carnival plc		23,675		1,045,550
Compass Group plc		281,561		4,806,232
InterContinental Hotels Group plc		39,904		1,693,525
Merlin Entertainments plc (g)		45,898		272,420
TUI Travel plc		176,906		1,232,013
Whitbread plc		36,818		2,644,811
William Hill plc		254,370		1,334,494
				13,029,045
Diversified Financials 0.3%
3i Group plc		193,070		1,342,467
Aberdeen Asset Management plc		248,162		1,748,465
Ashmore Group plc		61,962		298,579
Hargreaves Lansdown plc		41,308		631,055
ICAP plc		149,966		978,873
Investec plc		70,942		657,705
London Stock Exchange Group plc		22,822		805,946
Schroders plc		27,838		1,174,904
				7,637,994
Energy 2.6%
Amec Foster Wheeler plc		59,268		867,372
BG Group plc		601,745		8,483,152
BP plc		3,389,052		22,301,807
John Wood Group plc		90,698		840,153
Petrofac Ltd.		46,696		603,309
Royal Dutch Shell plc, A Shares		690,963		23,075,419
Royal Dutch Shell plc, B Shares		442,824		15,416,166

16 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Tullow Oil plc		177,804		1,186,197
				72,773,575
Food & Staples Retailing 0.2%
J Sainsbury plc (a)		284,148		1,038,607
Tesco plc		1,418,840		4,142,873
William Morrison Supermarkets plc		474,144		1,325,422
				6,506,902
Food, Beverage & Tobacco 2.4%
Associated British Foods plc		66,452		3,333,272
British American Tobacco plc		323,362		19,215,395
Coca-Cola HBC AG CDI *		35,920		816,787
Diageo plc		449,000		13,929,534
Imperial Tobacco Group plc		177,804		8,242,121
SABMiller plc		188,720		10,533,226
Tate & Lyle plc		98,780		933,581
Unilever plc		226,346		9,591,939
				66,595,855
Health Care Equipment & Services 0.1%
Smith & Nephew plc		152,660		2,653,713
Household & Personal Products 0.4%
Reckitt Benckiser Group plc		125,720		10,346,248
Insurance 1.1%
Admiral Group plc		12,572		244,136
Aviva plc		503,778		4,007,824
Direct Line Insurance Group plc		263,114		1,213,487
Friends Life Group Ltd.		355,932		2,057,949
Legal & General Group plc		1,180,870		4,562,228
Old Mutual plc		926,887		2,907,458
Prudential plc		508,368		12,324,092
RSA Insurance Group plc *		137,972		1,011,645
St. James’s Place plc		61,962		770,463
Standard Life plc		382,548		2,540,140
				31,639,422
Materials 1.6%
Anglo American plc		248,746		5,147,887
Antofagasta plc		46,696		538,955
BHP Billiton plc		391,528		9,301,525
CRH plc		131,108		3,102,412
Croda International plc		29,261		1,124,526
Fresnillo plc		22,450		250,324
Glencore plc *		1,792,421		8,993,698
Johnson Matthey plc		35,064		1,826,373
Mondi plc		52,084		893,150
Polymetal International plc		14,368		134,781
Randgold Resources Ltd.		15,266		1,016,779
Rexam plc		148,523		1,052,258
Rio Tinto plc		233,832		10,958,317
Vedanta Resources plc		17,062		194,922
				44,535,907
Media 0.6%
Daily Mail & General Trust plc, A Shares		39,512		521,011
Informa plc		70,044		528,498
ITV plc		820,772		2,753,264
Pearson plc		127,516		2,458,264
Reed Elsevier plc		187,682		3,271,324
Sky plc		181,541		2,649,698
WPP plc		251,135		5,270,087
				17,452,146
Pharmaceuticals, Biotechnology & Life Sciences 1.6%
AstraZeneca plc		225,543		16,883,521
GlaxoSmithKline plc		878,244		20,424,311
Hikma Pharmaceuticals plc		8,980		275,778
Shire plc		113,148		8,074,798
				45,658,408
Real Estate 0.3%
Hammerson plc		190,376		1,857,402
Intu Properties plc		193,968		1,084,133
Land Securities Group plc		140,986		2,623,000
Segro plc		176,906		1,086,843
The British Land Co. plc		246,052		2,959,333
				9,610,711
Retailing 0.3%
Kingfisher plc		478,634		2,338,643
Marks & Spencer Group plc		292,748		2,239,568
Next plc		28,736		3,048,888
Sports Direct International plc *		18,859		195,073
				7,822,172
Semiconductors & Semiconductor Equipment 0.1%
ARM Holdings plc		247,948		3,550,995
Software & Services 0.1%
The Sage Group plc		219,260		1,397,868
Telecommunication Services 1.0%
BT Group plc		1,341,612		8,618,434
Inmarsat plc		78,126		972,065
Vodafone Group plc		4,823,648		17,672,762
				27,263,261
Transportation 0.1%
easyJet plc		33,226		860,115
International Consolidated Airlines Group S.A. *		206,540		1,479,793
Royal Mail plc		95,811		626,888
				2,966,796
Utilities 0.8%
Centrica plc		885,853		3,948,229
Drax Group plc		65,554		625,718
National Grid plc		665,516		9,692,755
Severn Trent plc		45,798		1,465,280
SSE plc		189,478		4,866,407
United Utilities Group plc		113,148		1,604,505
				22,202,894
				499,992,373
Total Common Stock
(Cost $2,570,651,879)				2,745,464,424
Preferred Stock 0.4% of net assets
Germany 0.4%
Automobiles & Components 0.3%
Porsche Automobil Holding SE		28,736		2,509,094
Volkswagen AG		28,746		6,636,862
				9,145,956

17

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Household & Personal Products 0.1%
Henkel AG & Co. KGaA		26,940		2,996,431
				12,142,387
United Kingdom 0.0%
Capital Goods 0.0%
Rolls-Royce Holdings plc, C Shares *(b)(c)		31,888,080		49,938
Total Preferred Stock
(Cost $10,469,429)				12,192,325
Rights 0.0% of net assets
Australia 0.0%
Commercial & Professional Services 0.0%
Harvey Norman Holdings Ltd. *		5,510		8,466
Spain 0.0%
Banks 0.0%
CaixaBank S.A. *		334,056		22,488
Total Rights
(Cost $20,773)				30,954
Other Investment Companies 0.2% of net assets
United States 0.2%
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d)		3,066,489		3,066,489
Securities Lending Collateral 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d)		2,196,911		2,196,911
Total Other Investment Companies
(Cost $5,263,400)				5,263,400
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.01%, 12/18/14 (e)(f)		348,000		347,998
Total Short-Term Investment
(Cost $347,998)				347,998
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $2,587,649,979 and the unrealized appreciation and depreciation were $317,508,272 and ($141,859,150), respectively, with a net unrealized appreciation of $175,649,122.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $1,857,723.
(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 $49,938 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.
(g)	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 $272,420 or 0.0% of net assets.

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

In addition to the above, the fund held the following at 11/30/14:

			Contract		Unrealized
	Number of		Value		Appreciation
	Contracts		($)		($)
Futures Contracts
MSCI EAFE, e-mini, Long, expires 12/19/14		25		2,295,500		29,797

Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

18 

 Schwab International Equity ETF

Portfolio Holdings (Unaudited) continued

The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:

•  Securities traded on an exchange or over-the-counter: 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.

•  Futures contracts (“futures”): 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 may be valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”).

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 futures. Investments in mutual funds are valued daily at their NAVs, which are classified as Level 1 prices, without consideration to the classification level of the specific investments held by the underlying fund.

•  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.

19

 Schwab International Equity 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 November 30, 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		$2,745,464,424		$—		$—		$2,745,464,424
Preferred Stock1		12,142,387		—		—		12,142,387
United Kingdom1		—		—		49,938		49,938
Rights1		30,954		—		—		30,954
Other Investment Companies1		5,263,400		—		—		5,263,400
Short-Term Investment1		—		347,998		—		347,998
Total		$2,762,901,165		$347,998		$49,938		$2,763,299,101
Other Financial Instruments
Futures Contracts2		$29,797		$—		$—		$29,797

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			November 30,
Investments in Securities	2014		(Losses)		(Depreciation)			Purchases		Sales			in		out			2014
Common Stock
Hong Kong		$331,291		$10,065		($10,519	)		$—		($217,284	)		$—		($113,553	)		$—
Preferred Stock
United Kingdom		—		—		(1,248	)		51,186		—			—		—			49,938
Rights
Singapore		85,210		—		(85,210	)		—		—			—		—			—
Total		$416,501		$10,065		($96,977	)		$51,186		($217,284	)		$—		($113,553	)		$49,938

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. Transfers from Level 3 to Level 1 are a result of the availability of current and reliable market-based data provided by third-party pricing services or other valuation techniques which utilize significant observable inputs. There were no transfers between Level 1 and Level 2 for the period ended November 30, 2014.

REG54094NOV14

20 

Schwab Strategic Trust
Schwab International Small-Cap Equity ETF™

Portfolio Holdings as of November 30, 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	.9%	Common Stock		365,107,118		379,930,441
	0	.3%	Preferred Stock		1,084,089		1,227,040
	0	.1%	Rights		127,325		160,318
	1	.1%	Other Investment Companies		3,747,578		4,195,187
	100	.4%	Total Investments		370,066,110		385,512,986
	(0	.4)%	Other Assets and Liabilities, Net				(1,422,235	)
	100	.0%	Net Assets				384,090,751

	Number		Value
Security	of Shares		($)
Common Stock 98.9% of net assets
Australia 4.9%
Automobiles & Components 0.0%
ARB Corp., Ltd.		14,509		141,171
Capital Goods 0.2%
Bradken Ltd.		55,594		172,242
Cardno Ltd. (c)		38,400		105,533
Monadelphous Group Ltd. (c)		28,202		219,041
Seven Group Holdings Ltd.		31,342		159,700
UGL Ltd.		43,428		76,726
				733,242
Commercial & Professional Services 0.4%
Cabcharge Australia Ltd.		28,892		117,625
McMillan Shakespeare Ltd.		14,509		128,788
Mineral Resources Ltd.		33,364		217,273
SAI Global Ltd.		62,707		207,124
Transfield Services Ltd. *		147,665		237,571
Transpacific Industries Group Ltd.		290,251		226,672
Veda Group Ltd.		135,280		264,407
				1,399,460
Consumer Durables & Apparel 0.1%
Billabong International Ltd. *		112,342		62,325
G.U.D. Holdings Ltd.		39,742		242,187
				304,512
Consumer Services 0.5%
Ainsworth Game Technology Ltd.		36,783		70,323
Ardent Leisure Group		78,374		202,684
Domino’s Pizza Enterprises Ltd.		12,506		261,510
G8 Education Ltd.		96,735		367,407
Invocare Ltd.		26,753		267,154
Navitas Ltd.		83,642		359,084
Retail Food Group Ltd.		21,940		105,801
Slater & Gordon Ltd.		36,420		191,791
Vocation Ltd.		40,270		17,185
				1,842,939
Diversified Financials 0.2%
BT Investment Management Ltd.		24,180		139,717
FlexiGroup Ltd.		78,374		203,352
Magellan Financial Group Ltd.		18,977		232,263
OzForex Group Ltd.		58,351		132,475
				707,807
Energy 0.3%
AWE Ltd. *		166,708		198,488
Beach Energy Ltd.		328,895		287,730
Drillsearch Energy Ltd. *(c)		96,268		74,770
Horizon Oil Ltd. *(c)		249,178		42,535
Karoon Gas Australia Ltd. *		68,366		163,965
Liquefied Natural Gas Ltd. *(c)		93,655		259,787
Paladin Energy Ltd. *		206,497		66,092
Senex Energy Ltd. *		217,032		62,054
Sundance Energy Australia Ltd. *		116,357		69,517
				1,224,938
Food, Beverage & Tobacco 0.1%
Australian Agricultural Co., Ltd. *		72,550		94,121
GrainCorp Ltd., Class A		41,769		289,833
Tassal Group Ltd.		30,230		101,657
				485,611
Health Care Equipment & Services 0.2%
Australian Pharmaceutical Industries Ltd.		161,516		115,797
Greencross Ltd.		20,810		147,419
Primary Health Care Ltd.		111,916		448,946
Sigma Pharmaceuticals Ltd.		392,758		246,386
				958,548
Insurance 0.1%
Cover-More Group Ltd.		52,524		98,624
nib Holdings Ltd.		120,920		329,225
Steadfast Group Ltd.		65,546		90,908
				518,757
Materials 0.5%
Atlas Iron Ltd.		312,195		47,963
Independence Group NL		77,664		278,402
Jacana Minerals Ltd. (a)(b)		8,715		1,711
Lynas Corp., Ltd. *		700,393		35,269
Mount Gibson Iron Ltd. (a)		217,678		76,173
Northern Star Resources Ltd.		123,476		123,829
Pact Group Holdings Ltd.		52,030		184,292
PanAust Ltd.		197,696		277,567
Regis Resources Ltd. *		67,120		82,493
Sandfire Resources NL		37,183		145,349
Saracen Mineral Holdings Ltd. *		172,067		35,981
Sirius Resources NL *		64,723		144,179
Sundance Resources Ltd. *		1,330,327		38,605
Syrah Resources Ltd. *		30,230		90,305
TFS Corp., Ltd.		83,250		89,883

1

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Tiger Resources Ltd. *		368,851		50,370
Western Areas Ltd.		57,331		207,961
				1,910,332
Media 0.2%
APN News & Media Ltd. *		165,173		107,846
Nine Entertainment Co. Holdings Ltd.		134,240		230,293
Southern Cross Media Group Ltd.		169,082		145,755
STW Communications Group Ltd.		65,269		64,899
Village Roadshow Ltd.		30,230		188,607
				737,400
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Mayne Pharma Group Ltd. *		119,850		66,490
Mesoblast Ltd. *(c)		57,210		200,198
Sirtex Medical Ltd.		10,892		247,189
				513,877
Real Estate 0.6%
Abacus Property Group		134,566		329,626
Aveo Group		113,988		203,334
BWP Trust		186,152		403,557
Charter Hall Group		88,692		346,700
Charter Hall Retail REIT		77,002		272,743
Cromwell Property Group		362,806		311,203
Investa Office Fund		147,200		443,492
				2,310,655
Retailing 0.5%
Automotive Holdings Group Ltd.		105,158		352,727
Breville Group Ltd.		26,149		146,854
JB Hi-Fi Ltd.		27,152		358,505
Myer Holdings Ltd.		200,880		277,751
Pacific Brands Ltd.		364,427		161,740
Premier Investments Ltd.		31,342		271,249
Super Retail Group Ltd.		39,178		252,460
				1,821,286
Software & Services 0.3%
carsales.com Ltd.		62,436		557,404
Iress Ltd.		43,649		368,074
SMS Management & Technology Ltd.		29,018		86,684
UXC Ltd.		83,909		52,638
				1,064,800
Technology Hardware & Equipment 0.0%
Hills Ltd.		46,229		46,953
Telecommunication Services 0.2%
Amcom Telecommunications Ltd.		28,033		54,791
iiNET Ltd.		29,018		199,621
M2 Group Ltd. (c)		40,843		289,682
Vocus Communications Ltd.		20,810		104,792
				648,886
Transportation 0.2%
Mermaid Marine Australia Ltd.		69,899		89,190
Qube Holdings Ltd.		165,460		303,623
Virgin Australia Holdings Ltd. *		628,208		222,513
Virgin Australia International Holdings Ltd. (a)(b)		424,000		—
				615,326
Utilities 0.2%
DUET Group		304,760		637,276
Energy World Corp. Ltd. *		360,638		121,583
				758,859
				18,745,359
Austria 0.8%
Capital Goods 0.1%
Wienerberger AG		33,880		466,713
Zumtobel Group AG		6,247		123,554
				590,267
Energy 0.1%
Schoeller-Bleckmann Oilfield Equipment AG		2,666		211,545
Materials 0.1%
Mayr Melnhof Karton AG		1,619		168,752
RHI AG		6,787		159,533
				328,285
Real Estate 0.3%
Atrium European Real Estate Ltd. *		67,471		351,759
BUWOG AG *		11,445		216,872
CA Immobilien Anlagen AG *		19,252		380,408
Conwert Immobilien Invest SE *		20,224		245,113
S IMMO AG *		15,662		119,220
				1,313,372
Transportation 0.2%
Flughafen Wien AG		1,157		112,073
Oesterreichische Post AG		11,183		544,825
				656,898
Utilities 0.0%
EVN AG		8,299		106,046
				3,206,413
Belgium 1.7%
Consumer Durables & Apparel 0.0%
Van de Velde N.V.		2,029		95,740
Diversified Financials 0.5%
Ackermans & van Haaren N.V.		6,307		776,119
Gimv N.V.		3,623		169,373
KBC Ancora *		4,136		137,463
RHJ International S.A. *		15,154		85,013
Sofina S.A.		5,419		586,791
				1,754,759
Energy 0.0%
Euronav S.A. *		8,752		107,688
Health Care Equipment & Services 0.1%
AGFA-Gevaert N.V. *		45,641		109,870
Arseus N.V.		6,710		276,506
				386,376
Materials 0.2%
NV Bekaert S.A.		7,994		272,164
Nyrstar N.V. *		72,845		246,010
Tessenderlo Chemie N.V. *		10,969		283,746
				801,920
Real Estate 0.3%
Befimmo S.A.		5,668		434,842

2 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Cofinimmo S.A.		4,063		474,958
Warehouses De Pauw S.C.A.		2,459		175,838
				1,085,638
Retailing 0.1%
D’Ieteren S.A. N.V.		8,858		344,426
Semiconductors & Semiconductor Equipment 0.1%
Melexis N.V.		6,446		299,337
Technology Hardware & Equipment 0.1%
Barco N.V.		2,634		188,122
EVS Broadcast Equipment S.A.		4,628		155,343
				343,465
Telecommunication Services 0.0%
Mobistar S.A. *		6,576		157,114
Transportation 0.2%
bpost S.A.		25,325		658,580
Utilities 0.1%
Elia System Operator S.A. N.V.		6,085		305,976
				6,341,019
Canada 17.3%
Automobiles & Components 0.2%
Linamar Corp.		14,600		860,955
Martinrea International, Inc.		6,904		60,972
				921,927
Banks 0.5%
Canadian Western Bank		17,271		546,795
Genworth MI Canada, Inc.		9,686		350,743
Home Capital Group, Inc.		16,687		763,190
Laurentian Bank of Canada		5,256		235,085
				1,895,813
Capital Goods 0.9%
Aecon Group, Inc.		17,271		181,912
ATS Automation Tooling Systems, Inc. *		28,072		355,255
CAE, Inc.		63,639		844,985
MacDonald, Dettwiler & Associates Ltd.		8,692		684,307
Russel Metals, Inc.		17,271		453,037
Toromont Industries Ltd.		20,737		521,949
Westport Innovations, Inc. *		15,662		71,974
WSP Global, Inc.		14,720		451,443
				3,564,862
Commercial & Professional Services 0.7%
Black Diamond Group Ltd.		4,025		63,680
Progressive Waste Solutions Ltd.		33,744		1,029,558
Ritchie Bros. Auctioneers, Inc.		28,778		743,774
Stantec, Inc.		23,880		695,300
Transcontinental, Inc., Class A		15,662		210,841
				2,743,153
Consumer Durables & Apparel 0.5%
Dorel Industries, Inc., Class B		7,998		265,840
Gildan Activewear, Inc.		31,342		1,817,438
				2,083,278
Consumer Services 0.3%
Amaya Gaming Group, Inc. *		21,760		739,296
Great Canadian Gaming Corp. *		13,056		252,475
				991,771
Diversified Financials 0.7%
AGF Management Ltd., Class B		17,271		150,861
Canaccord Genuity Group, Inc.		16,621		133,376
Dundee Corp., Class A *		15,060		202,341
Element Financial Corp. *		46,042		584,282
GMP Capital, Inc.		8,466		44,622
Onex Corp.		20,877		1,188,080
TMX Group Ltd.		8,077		364,519
				2,668,081
Energy 4.5%
Advantage Oil & Gas Ltd. *		51,881		232,503
AltaGas Ltd.		31,342		1,164,897
Athabasca Oil Corp. *		99,655		221,990
Bankers Petroleum Ltd. *		62,666		189,056
Baytex Energy Corp.		36,739		779,405
Bellatrix Exploration Ltd. *		30,173		123,312
Birchcliff Energy Ltd. *		31,342		280,092
BlackPearl Resources, Inc. *		94,054		108,056
Bonavista Energy Corp.		47,027		396,755
Bonterra Energy Corp.		5,545		210,567
Calfrac Well Services Ltd.		21,768		232,905
Canadian Energy Services & Technology Corp.		30,214		182,304
Crew Energy, Inc. *		31,689		199,263
Denison Mines Corp. *		156,766		160,856
Enerflex Ltd.		17,271		253,858
Enerplus Corp.		47,027		612,042
Ensign Energy Services, Inc.		36,021		343,704
Gibson Energy, Inc.		31,342		749,019
Gran Tierra Energy, Inc. *		54,670		197,056
Kelt Exploration Ltd. *		26,845		192,582
Keyera Corp.		20,745		1,546,255
Legacy Oil & Gas, Inc. *		33,744		87,005
Lightstream Resources Ltd.		57,542		126,161
Mullen Group Ltd.		17,271		340,497
NuVista Energy Ltd. *		34,570		251,639
Paramount Resources Ltd., A Shares *		14,296		467,402
Parex Resources, Inc. *		24,975		176,101
Parkland Fuel Corp.		16,621		311,211
Pason Systems, Inc.		17,271		392,905
Pengrowth Energy Corp.		124,313		405,564
Peyto Exploration & Development Corp.		31,342		923,012
Precision Drilling Corp.		78,374		510,007
Raging River Exploration, Inc. *		34,340		187,022
Savanna Energy Services Corp.		29,707		121,928
Secure Energy Services, Inc.		23,445		350,159
ShawCor Ltd.		14,039		579,905
Surge Energy, Inc.		50,990		224,038
TORC Oil & Gas Ltd.		20,810		153,851
Trican Well Service Ltd.		35,520		241,109
Trilogy Energy Corp.		18,885		176,884
Trinidad Drilling Ltd.		42,794		227,059
Veresen, Inc.		57,600		903,718
Vermilion Energy, Inc.		24,051		1,123,821
Whitecap Resources, Inc.		48,325		507,301
				17,164,776

3

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Food & Staples Retailing 0.4%
Empire Co., Ltd., A Shares		11,970		873,094
The Jean Coutu Group PJC, Inc., A Shares		25,076		593,775
The North West Co., Inc.		3,626		77,751
				1,544,620
Food, Beverage & Tobacco 0.2%
Cott Corp.		34,570		227,991
Maple Leaf Foods, Inc.		25,318		417,433
				645,424
Health Care Equipment & Services 0.1%
Extendicare, Inc.		34,570		211,013
Insurance 0.3%
Industrial Alliance Insurance & Financial Services, Inc.		26,112		1,085,700
Materials 2.7%
Alamos Gold, Inc.		35,777		242,854
Argonaut Gold, Inc. *		31,013		49,773
AuRico Gold, Inc.		77,416		260,034
B2Gold Corp. *		233,038		380,137
Canexus Corp.		45,455		143,909
Canfor Corp. *		19,469		469,203
Capstone Mining Corp. *		88,265		147,850
CCL Industries, Inc., Class B		7,667		812,255
Centerra Gold, Inc.		33,560		153,341
China Gold International Resources Corp. Ltd. *		71,910		148,203
Detour Gold Corp. *		39,734		295,500
Dominion Diamond Corp. *		17,271		282,183
Dundee Precious Metals, Inc. *		33,744		84,342
Endeavour Silver Corp. *		15,662		41,207
First Majestic Silver Corp. *		31,342		124,791
HudBay Minerals, Inc.		54,138		409,270
IAMGOLD Corp. *		95,544		187,694
Imperial Metals Corp. *		16,932		135,129
Lundin Mining Corp. *		151,040		721,919
Major Drilling Group International, Inc.		32,956		191,334
Methanex Corp.		22,642		1,142,177
Nevsun Resources Ltd.		47,027		190,129
New Gold, Inc. *		118,062		472,144
NOVAGOLD Resources, Inc. *		78,374		218,574
OceanaGold Corp. *		65,935		120,854
Pan American Silver Corp.		42,421		394,354
Pretium Resources, Inc. *		15,662		86,259
Primero Mining Corp. *		37,460		154,735
SEMAFO, Inc. *		56,217		162,205
Sherritt International Corp.		71,856		163,846
Silver Standard Resources, Inc. *		17,271		87,245
Stella-Jones, Inc.		10,240		314,497
Tahoe Resources, Inc. *		25,548		398,148
Thompson Creek Metals Co., Inc. *		36,849		61,402
Torex Gold Resources, Inc. *		164,463		186,062
West Fraser Timber Co., Ltd.		18,288		952,371
				10,385,930
Media 0.6%
Aimia, Inc.		42,654		542,784
Cineplex, Inc.		15,662		600,932
Cogeco Cable, Inc.		3,486		198,658
Corus Entertainment, Inc., B Shares		15,662		298,062
Quebecor, Inc., Class B		21,493		584,331
Torstar Corp., Class B		16,450		94,639
				2,319,406
Real Estate 2.1%
Allied Properties Real Estate Investment Trust		16,831		557,220
Artis Real Estate Investment Trust		32,054		446,409
Boardwalk Real Estate Investment Trust		9,265		533,433
Calloway Real Estate Investment Trust		22,554		550,870
Canadian Apartment Properties Real Estate Investment Trust		26,880		611,032
Canadian Real Estate Investment Trust		15,380		656,339
Chartwell Retirement Residences		38,324		405,003
Cominar Real Estate Investment Trust		35,840		592,802
Dream Office Real Estate Investment Trust		24,662		583,107
Dream Unlimited Corp., Class A *		17,271		177,822
First Capital Realty, Inc.		26,404		433,487
FirstService Corp.		7,107		378,209
Granite Real Estate Investment Trust		11,090		385,244
H&R Real Estate Investment Trust		61,875		1,233,430
InnVest Real Estate Investment Trust		14,509		67,439
Morguard Real Estate Investment Trust		9,757		154,794
Northern Property Real Estate Investment Trust		7,595		174,780
				7,941,420
Retailing 0.6%
AutoCanada, Inc.		4,160		192,705
Dollarama, Inc.		31,705		1,489,808
Hudson’s Bay Co.		17,674		374,638
RONA, Inc.		31,342		376,846
				2,433,997
Software & Services 0.9%
Constellation Software, Inc.		3,592		1,044,476
DH Corp.		17,208		543,140
Open Text Corp.		31,342		1,860,867
				3,448,483
Technology Hardware & Equipment 0.1%
Avigilon Corp. *		6,937		103,545
Celestica, Inc. *		35,777		385,303
Wi-Lan, Inc.		30,200		96,142
				584,990
Telecommunication Services 0.1%
Manitoba Telecom Services, Inc.		12,982		328,350
Transportation 0.2%
TransForce, Inc.		17,271		451,220
Westshore Terminals Investment Corp.		12,653		373,625
				824,845
Utilities 0.7%
Algonquin Power & Utilities Corp.		41,676		353,803
Atco Ltd., Class I		18,075		756,130
Atlantic Power Corp.		17,228		39,586
Capital Power Corp.		15,662		372,647
Emera, Inc.		8,442		291,703

4 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Innergex Renewable Energy, Inc.		15,662		152,190
Just Energy Group, Inc.		23,491		115,369
Northland Power, Inc.		20,867		306,897
Superior Plus Corp.		31,342		353,207
				2,741,532
				66,529,371
Denmark 1.4%
Banks 0.2%
Sydbank A/S *		21,028		659,866
Capital Goods 0.2%
FLSmidth & Co. A/S (c)		11,445		485,128
NKT Holding A/S		7,130		388,712
				873,840
Consumer Durables & Apparel 0.0%
Bang & Olufsen A/S *		7,831		56,941
Food, Beverage & Tobacco 0.1%
Royal UNIBREW *		1,899		327,705
Schouw & Co.		2,600		125,890
				453,595
Health Care Equipment & Services 0.2%
GN Store Nord A/S		39,469		845,098
Insurance 0.2%
Topdanmark A/S *		19,170		619,869
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Alk-Abello A/S		2,423		276,047
Bavarian Nordic A/S *		4,355		130,240
Genmab A/S *		11,650		577,162
				983,449
Retailing 0.1%
Matas A/S		9,363		217,263
Software & Services 0.1%
SimCorp A/S		12,537		344,475
Transportation 0.0%
Dfds A/S		1,665		153,983
				5,208,379
Finland 1.7%
Capital Goods 0.6%
Cargotec Oyj, B Shares		12,102		394,071
Cramo Oyj		4,383		65,186
Konecranes Oyj		14,727		430,895
Outotec Oyj		50,134		294,498
Ramirent Oyj		18,898		163,030
Uponor Oyj		15,662		205,599
Valmet Oyj		31,215		344,974
YIT Oyj		34,316		234,648
				2,132,901
Commercial & Professional Services 0.1%
Caverion Corp.		29,111		229,723
Consumer Durables & Apparel 0.1%
Amer Sports Oyj		28,726		587,305
Food, Beverage & Tobacco 0.0%
Raisio Oyj, V Shares		21,766		110,709
Materials 0.4%
Huhtamaki Oyj		24,674		626,885
Kemira Oyj		18,177		223,318
Metsa Board Oyj		48,744		236,383
Outokumpu Oyj *(c)		51,315		306,169
				1,392,755
Real Estate 0.1%
Citycon Oyj		69,826		225,456
Sponda Oyj		55,536		246,473
				471,929
Retailing 0.0%
Stockmann Oyj Abp, B Shares		8,230		90,287
Software & Services 0.1%
Tieto Oyj		18,255		469,261
Telecommunication Services 0.3%
Elisa Oyj		38,327		1,114,238
Transportation 0.0%
Finnair Oyj *		31,342		94,555
				6,693,663
France 3.5%
Automobiles & Components 0.2%
Burelle S.A.		60		41,738
Faurecia		13,315		489,924
Plastic Omnium S.A.		13,056		341,964
				873,626
Capital Goods 0.2%
Mersen		5,441		129,759
Nexans S.A. *		9,572		314,313
Saft Groupe S.A.		8,014		250,066
Tarkett S.A.		2,341		59,740
				753,878
Commercial & Professional Services 0.3%
Derichebourg S.A.		14,694		40,795
Teleperformance		15,735		1,101,440
				1,142,235
Consumer Durables & Apparel 0.0%
Beneteau S.A. *		4,377		60,950
Energy 0.2%
Bourbon S.A.		6,294		162,891
CGG S.A. *		31,215		305,087
Etablissements Maurel et Prom *		20,192		197,125
Gaztransport Et Technigaz S.A.		3,225		171,150
MPI		29,602		109,234
				945,487
Food & Staples Retailing 0.1%
Rallye S.A.		8,120		316,894
Food, Beverage & Tobacco 0.1%
Bonduelle S.C.A.		4,341		110,020
Vilmorin & Cie S.A.		1,578		161,705
				271,725
Health Care Equipment & Services 0.3%
Korian-Medica		13,249		485,431
Orpea		10,938		690,792
				1,176,223

5

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Materials 0.2%
Eramet *		2,010		197,805
Vicat		4,986		377,485
				575,290
Media 0.5%
Havas S.A.		82,266		693,900
IPSOS		10,227		289,732
Metropole Television S.A.		16,826		320,305
Societe d’Edition de Canal		21,481		158,266
Solocal Group *		119,207		86,639
Technicolor S.A. - Reg’d *		65,698		393,132
				1,941,974
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Eurofins Scientific SE		1,721		418,798
Virbac S.A.		1,767		396,620
				815,418
Real Estate 0.1%
Mercialys S.A.		10,457		235,434
Nexity S.A.		6,768		264,341
				499,775
Retailing 0.0%
Groupe Fnac *		2,064		99,064
Semiconductors & Semiconductor Equipment 0.0%
SOITEC *		35,057		94,837
Software & Services 0.4%
Alten S.A.		5,946		263,147
Altran Technologies S.A.		28,802		261,001
GameLoft SE *		14,509		67,648
Sopra Group S.A.		2,905		224,751
UBISOFT Entertainment *		29,945		524,686
				1,341,233
Technology Hardware & Equipment 0.5%
Ingenico		10,145		1,098,794
Neopost S.A.		8,765		623,051
				1,721,845
Utilities 0.2%
Albioma S.A.		2,338		49,724
Rubis S.C.A.		9,674		568,875
				618,599
				13,249,053
Germany 4.5%
Automobiles & Components 0.2%
ElringKlinger AG		9,428		316,813
Leoni AG		9,388		564,345
				881,158
Banks 0.2%
Aareal Bank AG		14,283		625,432
Spar Nord Bank A/S		19,665		194,387
				819,819
Capital Goods 1.2%
Bauer AG *		1,303		22,417
BayWa AG		4,668		172,631
Deutz AG		36,552		174,250
DMG MORI SEIKI AG		19,605		520,706
Duerr AG		3,626		312,673
Heidelberger Druckmaschinen AG *		34,772		94,326
Indus Holding AG		804		39,636
KION Group AG		6,710		244,844
Kloeckner & Co. SE *		26,213		311,001
Krones AG		3,701		364,771
KUKA AG		6,516		494,214
Nordex SE *		16,318		317,958
Norma Group SE		8,687		422,356
Pfeiffer Vacuum Technology AG		3,801		306,013
Rational AG		1,447		462,160
Rheinmetall AG		4,122		175,255
SGL Carbon SE *		15,031		273,206
				4,708,417
Consumer Durables & Apparel 0.1%
Gerry Weber International AG		7,314		288,539
Diversified Financials 0.1%
Aurelius AG		3,626		134,932
Deutsche Beteiligungs AG		3,031		88,854
Grenkeleasing AG		1,435		158,679
				382,465
Energy 0.0%
C.A.T. Oil AG		3,319		54,865
Food, Beverage & Tobacco 0.0%
KWS Saat AG		450		148,607
Health Care Equipment & Services 0.1%
Carl Zeiss Meditec AG		3,101		85,474
Rhoen Klinikum AG		15,360		448,268
				533,742
Materials 0.3%
Aurubis AG		10,847		599,313
Salzgitter AG		10,735		356,049
				955,362
Media 0.1%
CTS Eventim AG & Co., KGaA		6,202		192,481
Pharmaceuticals, Biotechnology & Life Sciences 0.4%
Gerresheimer AG		5,975		330,985
MorphoSys AG *		7,401		730,458
Stada Arzneimittel AG		18,082		652,814
				1,714,257
Real Estate 0.9%
alstria Office REIT-AG *		21,042		264,287
Deutsche Euroshop AG		11,602		515,122
DIC Asset AG		15,662		146,438
GAGFAH S.A. *		48,325		934,089
Grand City Properties S.A. *		17,690		254,053
LEG Immobilien AG *		10,735		798,684
Patrizia Immobilien AG *		9,441		133,875
TAG Immobilien AG		34,822		394,301
				3,440,849
Semiconductors & Semiconductor Equipment 0.3%
Aixtron SE *		25,162		299,441
Dialog Semiconductor plc *		19,686		704,342
SMA Solar Technology AG *		1,825		48,085
				1,051,868
Software & Services 0.1%
Bechtle AG		3,862		299,562

6 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Technology Hardware & Equipment 0.1%
Jenoptik AG		12,033		137,274
Wincor Nixdorf AG		8,733		433,901
				571,175
Telecommunication Services 0.3%
Drillisch AG		9,671		355,843
Freenet AG		25,553		756,412
QSC AG		7,974		16,343
				1,128,598
Transportation 0.1%
Hamburger Hafen und Logistik AG		4,341		99,115
Sixt SE		2,944		118,766
				217,881
				17,389,645
Greece 0.5%
Capital Goods 0.0%
Ellaktor S.A. *		31,370		91,903
Metka S.A.		5,700		63,953
				155,856
Consumer Services 0.0%
Intralot S.A.-Integrated Lottery Systems & Services *		19,200		28,244
Diversified Financials 0.0%
Hellenic Exchanges - Athens Stock Exchange S.A. Holding *		13,680		97,550
Marfin Investment Group Holdings S.A. *		171,000		47,325
				144,875
Energy 0.1%
Hellenic Petroleum S.A. *		16,250		90,959
Motor Oil Hellas Corinth Refineries S.A.		10,005		83,442
				174,401
Materials 0.1%
Mytilineos Holdings S.A. *		19,651		146,742
Titan Cement Co. S.A.		10,048		238,752
				385,494
Real Estate 0.0%
Grivalia Properties REIC		9,800		104,090
Retailing 0.2%
FF Group *		11,800		435,724
JUMBO S.A.		23,600		300,094
				735,818
Utilities 0.1%
Public Power Corp. S.A. *		24,470		189,134
The Athens Water Supply & Sewage Co. S.A.		9,118		78,432
				267,566
				1,996,344
Hong Kong 2.1%
Automobiles & Components 0.1%
Minth Group Ltd.		156,000		327,489
Nexteer Automotive Group Ltd.		163,000		132,208
Xinchen China Power Holdings Ltd. *		186,000		87,543
				547,240
Capital Goods 0.1%
FDG Electric Vehicles Ltd. *(b)(c)		2,560,000		153,501
Singamas Container Holdings Ltd.		576,000		98,042
Summit Ascent Holdings Ltd. *		144,000		83,745
				335,288
Consumer Durables & Apparel 0.2%
Goodbaby International Holdings Ltd.		181,000		70,253
Lung Cheong International Holdings Ltd. *		706,000		91,948
Man Wah Holdings Ltd.		102,400		188,559
Pacific Textiles Holdings Ltd.		137,000		182,667
Stella International Holdings Ltd.		88,000		242,269
				775,696
Consumer Services 0.2%
China LotSynergy Holdings Ltd.		1,400,000		126,370
Dynam Japan Holdings Co., Ltd.		83,000		184,516
NagaCorp Ltd.		283,343		226,528
Regal Hotels International Holdings Ltd.		64,000		37,962
REXLot Holdings Ltd. (c)		2,000,000		172,792
				748,168
Diversified Financials 0.2%
Guotai Junan International Holdings Ltd.		185,000		137,408
Haitong International Securities Group Ltd.		160,000		97,795
Sun Hung Kai & Co., Ltd.		120,000		89,594
Value Partners Group Ltd.		288,000		226,166
				550,963
Energy 0.1%
Anton Oilfield Services Group (c)		274,041		71,735
Honghua Group Ltd. (c)		549,677		87,183
Newocean Energy Holdings Ltd. (c)		160,626		61,309
Sino Oil & Gas Holdings Ltd. *		5,205,000		131,551
SPT Energy Group, Inc.		144,000		37,137
Sunshine Oilsands Ltd. *		326,000		30,267
				419,182
Health Care Equipment & Services 0.0%
Town Health International Medical Group Ltd.		830,000		132,714
Materials 0.2%
G-Resources Group Ltd. *		8,331,000		209,484
Superb Summit International Group Ltd. *(a)(c)		1,120,000		210,857
TCC International Holdings Ltd.		434,000		174,048
Yingde Gases Group Co., Ltd.		216,000		162,940
				757,329
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
China Animal Healthcare Ltd.		165,000		136,809
The United Laboratories International Holdings Ltd. *		202,000		136,490
				273,299
Real Estate 0.3%
Fortune Real Estate Investment Trust		302,000		300,637

7

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
K Wah International Holdings Ltd.		288,000		171,946
Lai Sun Development Co., Ltd. *		3,256,000		81,033
Liu Chong Hing Investment Ltd.		24,000		30,422
Midland Holdings Ltd. *(c)		274,000		144,861
Sunlight Real Estate Investment Trust		288,000		131,837
Yuexiu Real Estate Investment Trust		576,000		293,385
				1,154,121
Retailing 0.2%
Chow Sang Sang Holdings International Ltd.		74,000		200,864
Giordano International Ltd.		288,000		135,180
Luk Fook Holdings International Ltd.		80,000		263,056
New World Department Store China Ltd.		288,000		97,671
Springland International Holdings Ltd.		256,000		97,713
Trinity Ltd.		256,000		55,458
				849,942
Semiconductors & Semiconductor Equipment 0.1%
Landing International Development Ltd. *		1,920,000		91,606
United Photovoltaics Group Ltd. *		566,000		67,146
Varitronix International Ltd.		65,000		51,128
				209,880
Technology Hardware & Equipment 0.1%
Ju Teng International Holdings Ltd.		288,000		150,406
TCL Communication Technology Holdings Ltd.		117,000		113,757
Truly International Holdings Ltd.		404,000		181,813
				445,976
Telecommunication Services 0.1%
APT Satellite Holdings Ltd.		39,000		64,975
CITIC Telecom International Holdings Ltd.		384,000		158,453
SmarTone Telecommunications Holding Ltd.		144,000		213,168
				436,596
Transportation 0.1%
Pacific Basin Shipping Ltd.		743,000		348,746
SITC International Holdings Co., Ltd.		278,000		153,787
				502,533
				8,138,927
Ireland 0.7%
Capital Goods 0.2%
Kingspan Group plc		40,807		659,301
Consumer Services 0.2%
Paddy Power plc		9,600		742,006
Food, Beverage & Tobacco 0.3%
C&C Group plc		102,662		481,218
Glanbia plc		36,245		562,099
				1,043,317
Transportation 0.0%
Aer Lingus Group plc		62,707		135,397
				2,580,021
Israel 0.4%
Capital Goods 0.0%
Discount Investment Corp., Ltd. - Reg’d		12,090		31,112
Food & Staples Retailing 0.1%
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.		3,626		150,711
Health Care Equipment & Services 0.0%
Mazor Robotics Ltd. *		18,135		93,476
Insurance 0.0%
Menorah Mivtachim Holdings Ltd.		14,509		147,338
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Evogene Ltd. *		7,252		67,839
Kamada Ltd. *		5,160		16,390
				84,229
Real Estate 0.1%
Africa Israel Investments Ltd. *		38,694		56,577
Africa Israel Properties Ltd.		4,395		67,443
Alony Hetz Properties & Investments Ltd.		18,135		121,998
Jerusalem Economy Ltd.		9,324		57,438
Jerusalem Oil Exploration *		2,680		95,233
Nitsba Holdings 1995 Ltd. *		6,710		94,394
				493,083
Semiconductors & Semiconductor Equipment 0.1%
Nova Measuring Instruments Ltd. *		15,662		166,481
Software & Services 0.0%
Allot Communications Ltd. *		7,831		76,349
Technology Hardware & Equipment 0.1%
AudioCodes Ltd. *		9,364		46,537
Gilat Satellite Networks Ltd. *		11,095		53,260
Ituran Location and Control Ltd.		6,247		134,233
				234,030
				1,476,809
Italy 3.0%
Automobiles & Components 0.1%
Brembo S.p.A.		4,811		166,674
Piaggio & C S.p.A. *		54,858		161,397
				328,071
Banks 0.7%
Banca Carige S.p.A. *		1,342,326		113,792
Banca Popolare dell’Emilia Romagna SC *		104,035		739,263
Banca Popolare di Milano Scarl *		1,141,070		836,438
Banca Popolare di Sondrio Scarl		121,401		485,513
Credito Emiliano S.p.A.		35,787		283,298
Credito Valtellinese Scarl *		327,596		326,310
				2,784,614
Capital Goods 0.2%
Astaldi S.p.A.		12,485		83,581
C.I.R. - Compagnie Industriali Riunite S.p.A *		53,925		59,158
Danieli & C Officine Meccaniche S.p.A.		9,572		165,868

8 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Industria Macchine Automatiche S.p.A.		3,006		125,913
Interpump Group S.p.A.		21,766		298,752
Salini Impregilo S.p.A *		52,030		203,541
Trevi Finanziaria Industriale S.p.A.		15,260		52,506
				989,319
Consumer Durables & Apparel 0.3%
Brunello Cucinelli S.p.A.		4,341		101,199
De’Longhi S.p.A.		7,831		155,419
Indesit Co. S.p.A. *		33		451
Moncler S.p.A.		24,160		359,622
Safilo Group S.p.A. *		3,804		50,790
Tod’s S.p.A.		4,481		414,778
				1,082,259
Consumer Services 0.1%
Autogrill S.p.A. *		26,845		202,973
Diversified Financials 0.3%
Azimut Holding S.p.A.		30,842		711,309
Banca Generali S.p.A.		13,347		354,578
				1,065,887
Energy 0.1%
ERG S.p.A.		21,850		254,551
Saras S.p.A. *		87,064		95,514
				350,065
Health Care Equipment & Services 0.2%
DiaSorin S.p.A.		5,528		227,419
Sorin S.p.A. *		172,870		415,500
				642,919
Insurance 0.2%
Societa Cattolica di Assicurazioni Scarl		41,059		279,476
Unipol Gruppo Finanziario S.p.A.		66,107		340,198
				619,674
Materials 0.1%
Cementir Holding S.p.A.		10,572		65,872
Italcementi S.p.A.		42,500		262,264
Italmobiliare S.p.A.		4,518		78,064
				406,200
Media 0.0%
RCS MediaGroup S.p.A. *		45,165		55,151
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Recordati S.p.A.		33,890		594,020
Real Estate 0.1%
Beni Stabili S.p.A. (c)		251,090		175,292
Immobiliare Grande Distribuzione		73,600		60,190
				235,482
Retailing 0.1%
World Duty Free S.p.A. *		18,628		180,788
Yoox S.p.A. *		12,572		301,703
				482,491
Technology Hardware & Equipment 0.0%
Ei Towers S.p.A. *		1,552		82,616
Transportation 0.1%
Ansaldo STS S.p.A.		28,776		303,849
ASTM S.p.A.		5,529		71,409
Societa Iniziative Autostradali e Servizi S.p.A.		8,050		81,338
				456,596
Utilities 0.3%
A2A S.p.A.		394,066		411,678
ACEA S.p.A.		12,368		140,849
Hera S.p.A.		218,170		556,474
Iren S.p.A.		143,719		172,000
				1,281,001
				11,659,338
Japan 17.4%
Automobiles & Components 0.8%
Akebono Brake Industry Co., Ltd.		30,000		109,197
Daido Metal Co., Ltd.		10,000		115,010
Eagle Industry Co., Ltd.		6,000		112,078
FCC Co., Ltd.		8,000		133,193
HI-LEX Corp.		6,300		165,350
Keihin Corp.		15,000		211,316
Mitsuba Corp.		6,300		104,146
Musashi Seimitsu Industry Co., Ltd.		11,100		216,230
Nifco, Inc.		15,000		512,491
Nippon Seiki Co., Ltd.		11,000		215,023
Nissin Kogyo Co., Ltd.		18,700		288,650
Pacific Industrial Co., Ltd.		13,400		99,017
Press Kogyo Co., Ltd.		28,000		100,737
Sanden Corp.		27,000		158,790
Showa Corp.		15,000		148,123
Topre Corp.		10,000		130,766
TPR Co., Ltd.		9,600		248,321
Unipres Corp.		8,000		137,709
				3,206,147
Banks 1.1%
Ashikaga Holdings Co., Ltd.		51,200		206,206
Bank of the Ryukyus Ltd.		15,000		219,784
FIDEA Holdings Co., Ltd.		99,300		201,637
Jimoto Holdings, Inc.		49,000		94,957
Kansai Urban Banking Corp.		12,800		138,154
The Aomori Bank Ltd.		48,000		140,338
The Bank of Iwate Ltd.		3,200		142,091
The Bank of Nagoya Ltd.		47,000		177,807
The Bank of Okinawa Ltd.		3,200		134,541
The Chiba Kogyo Bank Ltd.		20,200		148,583
The Fukui Bank Ltd.		137,000		307,048
The Kiyo Bank Ltd.		27,400		348,373
The Miyazaki Bank Ltd.		45,000		138,012
The Ogaki Kyoritsu Bank Ltd.		79,000		232,304
The Oita Bank Ltd.		48,000		181,994
The Toho Bank Ltd.		98,000		341,846
The Towa Bank Ltd.		202,000		182,112
The Yamagata Bank Ltd.		42,000		186,140
The Yamanashi Chuo Bank Ltd.		40,000		166,828
Tokyo TY Financial Group, Inc. *		10,500		289,295
TOMONY Holdings, Inc.		53,600		233,937
Tsukuba Bank Ltd.		35,400		115,728
				4,327,715
Capital Goods 4.5%
Aica Kogyo Co., Ltd.		19,900		407,105
Aida Engineering Ltd.		15,000		134,979

9

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Asahi Diamond Industrial Co., Ltd.		14,300		152,537
Central Glass Co., Ltd.		93,000		313,435
Chudenko Corp.		12,000		176,636
CKD Corp.		10,900		91,289
Daifuku Co., Ltd.		24,400		258,216
Daihen Corp.		34,000		144,955
Denyo Co., Ltd.		15,000		206,892
Fudo Tetra Corp.		40,200		84,339
Fuji Machine Manufacturing Co., Ltd.		26,800		247,034
Fujitec Co., Ltd.		19,400		189,775
Furukawa Co., Ltd.		73,000		132,856
Futaba Corp.		14,300		193,743
Hanwa Co., Ltd.		91,000		321,262
Hazama Ando Corp.		46,000		265,880
Hibiya Engineering Ltd.		6,300		85,196
Hitachi Koki Co., Ltd.		12,800		107,309
Hitachi Zosen Corp.		36,500		197,746
Inaba Denki Sangyo Co., Ltd.		5,600		188,735
Inabata & Co., Ltd.		12,800		110,005
Iseki & Co., Ltd.		60,000		115,263
Iwatani Corp.		46,000		334,870
Juki Corp.		36,000		117,993
Kanamoto Co., Ltd.		11,200		364,258
Kanematsu Corp.		76,000		113,342
Kato Works Co., Ltd.		12,000		95,749
Kitz Corp.		45,000		189,198
Komori Corp.		14,300		139,162
Kumagai Gumi Co., Ltd. *		128,000		410,903
Kuroda Electric Co., Ltd.		16,500		210,760
Kyowa Exeo Corp.		34,400		390,128
Kyudenko Corp.		8,000		92,143
Maeda Corp.		32,000		232,683
Makino Milling Machine Co., Ltd.		22,000		157,931
Meidensha Corp.		44,000		143,843
Mirait Holdings Corp.		30,000		325,062
Miura Co., Ltd.		19,700		205,988
MonotaRO Co., Ltd.		6,800		162,086
Morita Holdings Corp.		10,000		95,547
Nachi-Fujikoshi Corp.		42,000		248,068
Namura Shipbuilding Co., Ltd.		8,100		94,660
Nichias Corp.		19,000		106,458
Nippon Densetsu Kogyo Co., Ltd.		8,300		104,760
Nippon Steel & Sumikin Bussan Corp.		33,000		119,004
Nishimatsu Construction Co., Ltd.		75,000		309,643
Nishio Rent All Co., Ltd.		4,000		135,653
Nitta Corp.		5,000		111,135
Nitto Boseki Co., Ltd.		67,000		238,792
Nitto Kogyo Corp.		13,400		253,469
Noritz Corp.		19,000		307,849
Obara Group, Inc.		2,000		81,645
Oiles Corp.		16,800		287,207
Okabe Co., Ltd.		15,000		145,090
Okumura Corp.		66,000		304,183
OSG Corp.		18,300		290,802
Penta-Ocean Construction Co., Ltd.		75,000		236,972
Raito Kogyo Co., Ltd.		8,400		69,856
Ryobi Ltd.		21,000		55,382
Sanki Engineering Co., Ltd.		14,500		89,674
Sankyo Tateyama, Inc.		8,500		145,098
Sanwa Holdings Corp.		53,000		373,771
Shibuya Kogyo Co., Ltd.		6,000		133,159
Shima Seiki Manufacturing Ltd.		14,300		247,119
Shinmaywa Industries Ltd.		23,000		212,782
SHO-BOND Holdings Co., Ltd.		5,100		185,419
Sintokogio Ltd.		36,000		247,209
Sodick Co., Ltd.		20,200		194,537
Star Micronics Co., Ltd.		15,000		213,591
Sumitomo Densetsu Co., Ltd.		2,800		30,835
Sumitomo Mitsui Construction Co., Ltd. *		175,300		190,535
Taikisha Ltd.		15,000		311,413
Takara Standard Co., Ltd.		22,000		154,409
Takasago Thermal Engineering Co., Ltd.		30,000		382,441
Takuma Co., Ltd.		26,000		184,017
Tekken Corp.		23,000		93,213
The Nippon Road Co., Ltd.		14,000		68,888
Toa Corp.		66,000		109,550
TOKAI Holdings Corp.		24,500		114,774
Tokyu Construction Co., Ltd.		22,200		101,194
Toshiba Machine Co., Ltd.		50,000		197,161
Toshiba Plant Systems & Services Corp.		10,000		154,779
Totetsu Kogyo Co., Ltd.		14,300		305,676
Toyo Engineering Corp.		40,000		148,629
Trusco Nakayama Corp.		8,000		226,145
Tsubakimoto Chain Co.		35,000		290,475
Tsugami Corp.		25,000		128,491
Wakita & Co., Ltd.		10,000		97,232
YAMABIKO Corp.		1,800		75,148
Yamazen Corp.		29,000		202,561
Yokogawa Bridge Holdings Corp.		7,000		79,033
				17,096,419
Commercial & Professional Services 0.6%
Aeon Delight Co., Ltd.		5,000		112,693
Daiseki Co., Ltd.		15,800		266,917
Duskin Co., Ltd.		16,600		242,388
Kokuyo Co., Ltd.		26,800		201,195
Meitec Corp.		10,900		304,908
Mitsubishi Pencil Co., Ltd.		10,700		349,349
Nihon M&A Center, Inc.		6,800		207,979
Nissha Printing Co., Ltd.		6,800		101,411
Okamura Corp.		25,600		173,636
Pilot Corp.		4,200		215,865
Sanix, Inc. *		6,400		33,703
Sato Holdings Corp.		5,000		119,223
				2,329,267
Consumer Durables & Apparel 0.7%
Alpine Electronics, Inc.		15,000		240,131
Chofu Seisakusho Co., Ltd.		5,000		126,806
Foster Electric Co., Ltd.		5,500		97,224
Fujibo Holdings, Inc.		22,000		59,873
Fujitsu General Ltd.		13,000		139,546
Gunze Ltd.		101,000		263,808
JVC Kenwood Corp. *		45,000		103,509
Mizuno Corp.		39,000		195,846
Pioneer Corp. *		85,800		182,899
Sangetsu Co., Ltd.		14,300		350,135
Seiko Holdings Corp.		28,000		159,717
Seiren Co., Ltd.		14,300		115,306
Tamron Co., Ltd.		7,800		147,936
The Japan Wool Textile Co., Ltd.		16,000		103,265
Token Corp.		1,300		55,972

10 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Tomy Co., Ltd.		16,700		85,410
TSI Holdings Co., Ltd.		42,900		247,239
Yondoshi Holdings, Inc.		4,600		78,253
				2,752,875
Consumer Services 0.7%
Accordia Golf Co., Ltd.		27,800		246,179
Atom Corp.		12,800		66,435
Colowide Co., Ltd. (c)		13,400		155,469
Doutor Nichires Holdings Co., Ltd.		18,700		257,768
Fuji Kyuko Co., Ltd.		16,000		147,887
JP-Holdings, Inc.		25,600		79,161
Kisoji Co., Ltd.		10,000		161,014
Kyoritsu Maintenance Co., Ltd.		4,000		173,569
MOS Food Services, Inc.		13,400		237,889
Ohsho Food Service Corp.		3,000		106,543
Plenus Co., Ltd.		6,000		101,209
Round One Corp.		18,300		105,466
Royal Holdings Co., Ltd.		7,000		101,268
Saizeriya Co., Ltd.		6,400		85,578
St Marc Holdings Co., Ltd.		2,000		110,376
Tokyo Dome Corp.		54,000		217,483
Tokyotokeiba Co., Ltd.		27,000		73,025
Yoshinoya Holdings Co., Ltd.		14,500		158,579
Zensho Holdings Co., Ltd. (c)		26,800		216,098
				2,800,996
Diversified Financials 0.5%
Fuyo General Lease Co., Ltd.		9,100		325,863
IBJ Leasing Co., Ltd.		14,300		283,024
Ichiyoshi Securities Co., Ltd.		6,300		68,104
J Trust Co., Ltd.		29,600		273,841
Jaccs Co., Ltd.		19,000		93,651
Japan Securities Finance Co., Ltd.		30,000		155,706
kabu.com Securities Co., Ltd.		36,900		182,813
Kyokuto Securities Co., Ltd.		4,400		71,773
Marusan Securities Co., Ltd.		14,100		98,130
Mito Securities Co., Ltd.		18,000		64,001
Monex Group, Inc.		49,400		119,874
Ricoh Leasing Co., Ltd.		3,100		81,363
Toyo Securities Co., Ltd.		9,000		27,148
				1,845,291
Energy 0.2%
Itochu Enex Co., Ltd.		15,000		96,684
Modec, Inc.		6,200		108,030
Nippon Coke & Engineering Co., Ltd.		71,500		68,075
Nippon Gas Co., Ltd.		9,100		189,384
San-Ai Oil Co., Ltd.		15,000		94,157
Shinko Plantech Co., Ltd.		15,000		102,625
Toyo Kanetsu KK		24,000		52,172
				711,127
Food & Staples Retailing 0.5%
Ain Pharmaciez, Inc.		5,800		165,910
Arcs Co., Ltd.		14,300		293,627
Cocokara fine, Inc.		11,000		262,662
Heiwado Co., Ltd.		8,000		147,348
Kasumi Co., Ltd.		19,100		169,299
Kato Sangyo Co., Ltd.		5,000		95,800
San-A Co., Ltd.		4,000		135,822
Valor Co., Ltd.		14,300		246,034
Welcia Holdings Co., Ltd.		3,000		95,041
Yaoko Co., Ltd.		1,700		101,411
Yokohama Reito Co., Ltd.		18,200		120,684
				1,833,638
Food, Beverage & Tobacco 0.7%
Ariake Japan Co., Ltd.		5,000		115,979
Fuji Oil Co., Ltd.		12,800		182,048
Fujiya Co., Ltd.		24,000		41,454
Hokuto Corp.		15,000		252,896
Itoham Foods, Inc.		30,000		155,706
Kameda Seika Co., Ltd.		4,000		127,228
Key Coffee, Inc.		12,800		175,577
Marudai Food Co., Ltd.		30,000		104,647
Maruha Nichiro Corp.		14,300		201,093
Megmilk Snow Brand Co., Ltd.		15,000		181,489
Morinaga & Co., Ltd.		50,000		115,010
Morinaga Milk Industry Co., Ltd.		85,000		283,608
Nippon Flour Mills Co., Ltd.		24,000		107,579
Nippon Suisan Kaisha Ltd. *		76,800		267,896
Sakata Seed Corp.		10,000		146,270
Showa Sangyo Co., Ltd.		30,000		118,044
The Nisshin Oillio Group Ltd.		30,000		100,602
				2,677,126
Health Care Equipment & Services 0.6%
A/S One Corp.		3,000		76,842
Asahi Intecc Co., Ltd.		6,500		319,838
BML, Inc.		3,000		85,689
Eiken Chemical Co., Ltd.		3,800		59,360
Hogy Medical Co., Ltd.		4,000		193,116
Jeol Ltd.		17,000		80,069
Mani, Inc.		2,000		115,095
Nagaileben Co., Ltd.		15,000		245,440
Nichii Gakkan Co.		12,800		96,740
Nikkiso Co., Ltd.		15,500		151,755
Paramount Bed Holdings Co., Ltd.		6,000		171,378
Ship Healthcare Holdings, Inc.		10,000		231,285
Toho Holdings Co., Ltd.		18,500		238,333
Tokai Corp.		3,000		89,733
Tsukui Corp.		12,800		100,191
Vital KSK Holdings, Inc.		12,800		93,073
				2,347,937
Household & Personal Products 0.2%
Aderans Co., Ltd.		13,700		133,093
Dr Ci:Labo Co., Ltd.		2,000		60,159
Fancl Corp.		14,300		176,995
Mandom Corp.		9,600		306,964
Milbon Co., Ltd.		3,300		98,429
				775,640
Materials 2.0%
ADEKA Corp.		34,500		415,680
Aichi Steel Corp.		50,000		173,990
Asahi Holdings, Inc.		15,000		218,646
Chugoku Marine Paints Ltd.		26,000		212,276
Dainichiseika Color & Chemicals Manufacturing Co., Ltd.		40,000		218,056
Daio Paper Corp.		15,000		132,451
Earth Chemical Co., Ltd.		5,700		198,108
Fuji Seal International, Inc.		4,900		138,927
Fujimi, Inc.		15,000		209,041
Fujimori Kogyo Co., Ltd.		3,200		90,323
Hokuetsu Kishu Paper Co., Ltd.		40,200		165,291
Ihara Chemical Industry Co., Ltd.		13,400		138,420

11

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Ishihara Sangyo Kaisha Ltd. *		143,000		121,692
Kureha Corp.		37,000		181,127
Kyoei Steel Ltd.		15,000		252,770
Nihon Nohyaku Co., Ltd.		26,800		293,324
Nihon Parkerizing Co., Ltd.		13,400		288,470
Nippon Light Metal Holdings Co., Ltd.		196,500		296,360
Nippon Soda Co., Ltd.		33,000		172,111
Nippon Yakin Kogyo Co., Ltd. *		34,500		82,555
NOF Corp.		32,000		201,677
OSAKA Titanium Technologies Co., Ltd.		8,000		143,573
Pacific Metals Co., Ltd. *		32,000		94,367
Sakata INX Corp.		20,500		227,480
Sanyo Chemical Industries Ltd.		26,000		170,873
Sanyo Special Steel Co., Ltd.		30,000		92,767
Sumitomo Bakelite Co., Ltd.		40,000		149,640
Sumitomo Seika Chemicals Co., Ltd.		9,000		61,196
Taiyo Holdings Co., Ltd.		8,000		287,484
Takasago International Corp.		22,000		101,580
Toagosei Co., Ltd.		58,000		237,014
Toho Titanium Co., Ltd. *		13,400		81,968
Toho Zinc Co., Ltd.		30,000		101,866
Tokai Carbon Co., Ltd.		44,000		123,824
Tokuyama Corp.		79,000		173,063
Tokyo Ohka Kogyo Co., Ltd.		15,000		444,243
Tokyo Rope Manufacturing Co., Ltd. *		37,000		64,844
Tokyo Steel Manufacturing Co., Ltd.		30,100		160,283
Topy Industries Ltd.		83,000		151,755
Toyo Ink SC Holdings Co., Ltd.		50,000		240,131
UACJ Corp.		80,000		235,245
Yodogawa Steel Works Ltd.		40,000		145,595
				7,690,086
Media 0.2%
Avex Group Holdings, Inc.		8,400		119,752
COOKPAD, Inc. (c)		3,000		95,294
Kadokawa Dwango *		15,200		261,135
Next Co., Ltd.		6,400		44,056
Toei Co., Ltd.		16,000		83,448
Tv Tokyo Holdings Corp.		4,000		80,044
				683,729
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
ASKA Pharmaceutical Co., Ltd.		5,000		56,873
JCR Pharmaceuticals Co., Ltd.		3,400		71,131
Nichi-iko Pharmaceutical Co., Ltd.		15,800		244,418
Seikagaku Corp.		18,100		320,107
Torii Pharmaceutical Co., Ltd.		1,900		47,258
ZERIA Pharmaceutical Co., Ltd.		9,600		158,295
				898,082
Real Estate 0.5%
Daibiru Corp.		15,000		158,234
Goldcrest Co., Ltd.		1,900		34,611
Heiwa Real Estate Co., Ltd.		15,000		227,872
Jowa Holdings Co., Ltd.		1,900		57,872
Keihanshin Building Co., Ltd.		42,900		230,612
Kenedix, Inc.		76,800		407,667
Leopalace21 Corp. *		64,000		362,910
Relo Holdings, Inc.		2,400		157,122
Takara Leben Co., Ltd.		29,600		129,688
TOC Co., Ltd.		30,000		183,764
				1,950,352
Retailing 0.8%
AOKI Holdings, Inc.		12,800		129,202
Arcland Sakamoto Co., Ltd.		6,500		134,069
ASKUL Corp.		8,300		142,943
Belluna Co., Ltd.		12,800		52,846
Bic Camera, Inc.		27,500		241,206
Chiyoda Co., Ltd.		8,000		143,371
DCM Holdings Co., Ltd.		30,000		191,094
EDION Corp.		28,600		185,791
Fuji Co., Ltd.		8,000		146,944
Geo Holdings Corp.		14,300		114,704
Gulliver International Co., Ltd.		22,200		172,460
Jin Co., Ltd. (c)		3,100		71,959
Matsuya Co., Ltd.		14,300		210,129
Nishimatsuya Chain Co., Ltd.		13,400		121,033
Paltac Corp.		12,800		145,488
The Daiei, Inc. *		56,300		64,514
Tsutsumi Jewelry Co., Ltd.		4,000		83,583
United Arrows Ltd.		10,100		279,125
Xebio Co., Ltd.		15,000		242,154
Yellow Hat Ltd.		9,600		186,200
				3,058,815
Semiconductors & Semiconductor Equipment 0.2%
Sanken Electric Co., Ltd.		22,000		186,848
Shindengen Electric Manufacturing Co., Ltd.		9,000		55,887
Tokyo Seimitsu Co., Ltd.		15,000		293,592
Ulvac, Inc. *		14,300		197,719
				734,046
Software & Services 0.6%
Ateam, Inc.		1,000		46,425
Broadleaf Co., Ltd.		5,200		72,862
Fuji Soft, Inc.		4,800		101,108
GMO internet, Inc.		19,600		182,648
GMO Payment Gateway, Inc.		3,000		54,042
Gurunavi, Inc.		6,700		100,485
Ines Corp.		14,300		105,185
Internet Initiative Japan, Inc.		5,900		124,129
IT Holdings Corp.		19,300		300,676
Koei Tecmo Holdings Co., Ltd.		10,000		144,332
Marvelous, Inc.		6,300		84,931
NEC Networks & System Integration Corp.		6,000		115,263
NET One Systems Co., Ltd.		28,600		164,344
Nihon Unisys Ltd.		23,000		211,813
NSD Co., Ltd.		14,300		196,755
SMS Co., Ltd.		3,500		76,762
Transcosmos, Inc.		14,300		252,179
				2,333,939
Technology Hardware & Equipment 1.2%
Ai Holdings Corp.		14,300		290,012
Amano Corp.		25,600		267,896
Canon Electronics, Inc.		15,000		252,896
Daiwabo Holdings Co., Ltd.		42,000		76,792
Denki Kogyo Co., Ltd.		20,000		87,290
Eizo Corp.		3,800		69,254
Enplas Corp.		2,500		83,519
Hitachi Kokusai Electric, Inc.		10,000		147,281
Hitachi Maxell Ltd.		10,000		152,252
Horiba Ltd.		9,300		316,177

12 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Hosiden Corp.		15,300		95,782
Japan Cash Machine Co., Ltd. (c)		4,500		66,731
Japan Digital Laboratory Co., Ltd.		5,000		72,039
Koa Corp.		10,000		92,514
Mitsumi Electric Co., Ltd.		26,800		222,647
Nichicon Corp.		29,500		238,366
Nippon Chemi-Con Corp. *		30,000		86,700
Nohmi Bosai Ltd.		6,000		82,555
Oki Electric Industry Co., Ltd.		170,000		343,767
Riso Kagaku Corp.		2,600		79,850
Roland DG Corp.		4,000		139,698
Ryosan Co., Ltd.		15,800		330,950
SMK Corp.		20,000		81,223
Tabuchi Electric Co., Ltd.		10,000		101,614
Tamura Corp.		20,000		73,640
The Nippon Signal Co., Ltd.		26,800		261,711
Toyo Corp.		12,800		106,339
Wacom Co., Ltd. (c)		54,800		210,547
				4,430,042
Transportation 0.5%
Hamakyorex Co., Ltd.		3,100		101,083
Iino Kaiun Kaisha Ltd.		43,800		248,367
Kintetsu World Express, Inc.		4,000		139,697
Konoike Transport Co., Ltd.		4,000		75,662
Maruzen Showa Unyu Co., Ltd.		31,000		90,896
Mitsui-Soko Holdings Co., Ltd.		24,000		89,784
Nippon Konpo Unyu Soko Co., Ltd.		15,000		234,950
Nissin Corp.		37,000		84,796
Sankyu, Inc.		85,000		332,308
Senko Co., Ltd.		20,000		92,514
The Sumitomo Warehouse Co., Ltd.		32,000		182,264
Trancom Co., Ltd.		2,000		86,447
				1,758,768
Utilities 0.1%
Saibu Gas Co., Ltd.		73,000		165,455
Shizuoka Gas Co., Ltd.		14,500		91,629
The Okinawa Electric Power Co., Inc.		4,000		125,879
				382,963
				66,625,000
Netherlands 2.0%
Capital Goods 0.5%
Aalberts Industries N.V.		25,540		718,298
Arcadis N.V.		17,270		540,609
Grontmij *		12,122		55,642
Koninklijke BAM Groep N.V. (c)		69,684		197,633
Royal Imtech N.V. *		15,616		79,603
TKH Group N.V.		10,288		329,552
				1,921,337
Commercial & Professional Services 0.0%
USG People N.V.		12,721		140,048
Consumer Durables & Apparel 0.0%
TomTom N.V. *		18,769		132,060
Diversified Financials 0.1%
BinckBank N.V.		18,664		173,785
Food, Beverage & Tobacco 0.4%
Corbion N.V.		18,987		334,932
Nutreco N.V.		18,937		1,085,605
				1,420,537
Insurance 0.3%
Delta Lloyd N.V.		44,179		1,018,075
Materials 0.2%
APERAM S.A. *		12,376		397,593
Koninklijke Ten Cate N.V.		10,505		248,694
				646,287
Real Estate 0.3%
Eurocommercial Properties N.V.		9,939		450,393
Vastned Retail N.V.		4,201		197,861
Wereldhave N.V.		5,973		469,634
				1,117,888
Semiconductors & Semiconductor Equipment 0.1%
ASM International N.V.		11,337		476,644
Transportation 0.1%
PostNL N.V. *		121,248		470,542
				7,517,203
New Zealand 0.7%
Energy 0.1%
New Zealand Oil & Gas Ltd.		166,788		82,485
Z Energy Ltd.		54,415		179,406
				261,891
Food, Beverage & Tobacco 0.0%
a2 Milk Co., Ltd. *		96,735		47,841
Synlait Milk Ltd. *		24,180		64,916
				112,757
Health Care Equipment & Services 0.1%
Ebos Group Ltd.		15,605		115,394
Metlifecare Ltd.		30,230		102,516
				217,910
Insurance 0.0%
Tower Ltd.		54,272		84,781
Materials 0.0%
Nuplex Industries Ltd.		72,725		174,122
Real Estate 0.1%
Goodman Property Trust		379,298		331,990
Precinct Properties New Zealand Ltd.		156,766		136,598
				468,588
Retailing 0.1%
Kathmandu Holdings Ltd.		56,921		134,049
Trade Me Group Ltd.		72,279		215,041
				349,090
Telecommunication Services 0.0%
Chorus Ltd. *		97,947		158,775
Transportation 0.1%
Freightways Ltd.		47,027		201,193
Utilities 0.2%
Infratil Ltd.		172,187		378,467
Mighty River Power Ltd.		149,060		351,037
				729,504
				2,758,611

13

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Norway 1.3%
Banks 0.1%
SpareBank 1 SMN		30,283		251,787
SpareBank 1 SR-Bank A.S.A.		26,845		206,917
				458,704
Diversified Financials 0.0%
Aker A.S.A., A Shares		4,341		94,493
Energy 0.6%
Archer Ltd. *		65,909		45,721
BW LPG Ltd. (e)		12,359		89,969
BW Offshore Ltd.		134,240		140,834
Det Norske Oljeselskap A.S.A. *		26,845		142,543
DNO A.S.A. *		241,297		552,798
Fred. Olsen Energy A.S.A.		5,214		54,255
Kvaerner A.S.A.		30,848		38,220
Petroleum Geo-Services A.S.A. (c)		50,451		247,580
Prosafe SE		49,412		162,218
TGS Nopec Geophysical Co. A.S.A.		26,916		599,341
				2,073,479
Food, Beverage & Tobacco 0.1%
Austevoll Seafood A.S.A.		23,511		141,284
Salmar A.S.A.		12,175		209,409
				350,693
Insurance 0.1%
Storebrand A.S.A. *		112,456		524,410
Real Estate 0.1%
Norwegian Property A.S.A. *		185,052		264,139
Semiconductors & Semiconductor Equipment 0.1%
Nordic Semiconductor A.S.A. *(c)		50,651		294,253
REC Silicon A.S.A. *		516,487		178,113
				472,366
Software & Services 0.1%
Atea A.S.A.		25,442		265,102
Opera Software A.S.A.		18,341		234,700
				499,802
Transportation 0.1%
Golden Ocean Group Ltd.		74,592		62,498
Norwegian Air Shuttle A.S.A *		2,114		79,873
Stolt-Nielsen Ltd.		3,626		55,380
Wilh Wilhelmsen A.S.A.		19,960		119,660
				317,411
				5,055,497
Portugal 0.4%
Banks 0.0%
Banco BPI S.A. - Reg’d *		66,505		129,089
Capital Goods 0.0%
Mota-Engil, SGPS, S.A.		20,870		91,894
Food & Staples Retailing 0.1%
Sonae, SGPS, S.A.		233,196		318,622
Materials 0.1%
Altri, SGPS, S.A.		42,084		122,503
Portucel S.A.		58,537		203,674
Semapa-Sociedade de Investimento e Gestao		10,735		119,776
				445,953
Media 0.1%
NOS, SGPS		66,382		411,541
Transportation 0.1%
CTT-Correios de Portugal S.A.		22,400		213,626
				1,610,725
Republic of Korea 4.4%
Automobiles & Components 0.2%
Hanil E-Hwa Co., Ltd. *		3,908		58,728
Kumho Tire Co., Inc. *		34,200		327,199
Nexen Tire Corp.		9,130		116,602
Ssangyong Motor Co. *		20,300		162,151
Sungwoo Hitech Co., Ltd.		6,000		77,170
				741,850
Banks 0.0%
JB Financial Group Co., Ltd.		18,054		98,585
Capital Goods 0.4%
Doosan Engine Co., Ltd. *		10,000		60,562
Hyundai Corp.		3,000		88,000
Hyundai Rotem Co., Ltd.		5,000		90,934
iMarketKorea, Inc.		6,000		145,674
Korea Aerospace Industries Ltd.		12,500		453,540
Korea Electric Terminal Co., Ltd.		2,000		108,669
LG International Corp.		9,293		239,046
LS Industrial Systems Co., Ltd.		5,080		295,277
S&T Dynamics Co., Ltd.		7,620		63,961
Sung Kwang Bend Co., Ltd.		6,350		91,701
Taewoong Co., Ltd. *		2,500		37,457
TK Corp. *		3,501		42,659
				1,717,480
Commercial & Professional Services 0.1%
KEPCO Plant Service & Engineering Co., Ltd.		2,850		232,795
Consumer Durables & Apparel 0.4%
Fila Korea Ltd.		1,900		179,205
Handsome Co., Ltd.		2,000		55,688
Hansae Co., Ltd.		5,900		193,037
Hanssem Co., Ltd.		5,000		525,746
LF Corp.		5,800		167,517
Youngone Corp.		6,060		298,638
Youngone Holdings Co., Ltd.		1,780		156,801
				1,576,632
Consumer Services 0.1%
Grand Korea Leisure Co., Ltd.		4,500		153,527
Hana Tour Service, Inc.		2,970		202,387
MegaStudy Co., Ltd.		1,800		93,741
				449,655
Diversified Financials 0.2%
Daishin Securities Co., Ltd.		12,000		103,976
Hankook Tire Worldwide Co., Ltd.		5,650		108,619
KIWOOM Securities Co., Ltd.		2,840		128,165
Meritz Financial Group, Inc.		12,000		100,835
Meritz Securities Co., Ltd.		40,000		147,299
SK Securities Co., Ltd. *		100,000		84,841

14 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Yuanta Securities Korea *		36,000		132,732
				806,467
Energy 0.1%
Hankook Shell Oil Co., Ltd.		200		82,224
SK Gas Ltd.		1,463		143,269
				225,493
Food & Staples Retailing 0.1%
Dongsuh Co., Inc.		12,099		252,802
GS Retail Co., Ltd.		4,520		103,214
				356,016
Food, Beverage & Tobacco 0.2%
Binggrae Co., Ltd.		1,460		108,714
Daesang Corp.		7,130		243,255
Dongwon Industries Co., Ltd.		300		84,751
Lotte Food Co., Ltd.		160		100,077
Maeil Dairy Industry Co., Ltd.		2,000		66,158
Namyang Dairy Products Co., Ltd.		80		47,222
Ottogi Corp.		363		172,990
Samyang Holdings Corp.		1,310		104,994
				928,161
Health Care Equipment & Services 0.1%
Chabiotech Co., Ltd. *		10,647		129,730
Medipost Co., Ltd. *		1,901		87,162
Osstem Implant Co., Ltd. *		3,810		126,547
				343,439
Household & Personal Products 0.1%
Cosmax, Inc. *		1,496		137,725
Korea Kolmar Co., Ltd.		3,000		126,585
				264,310
Insurance 0.2%
Korean Reinsurance Co.		24,174		249,824
LIG Insurance Co., Ltd.		10,300		242,637
Meritz Fire & Marine Insurance Co., Ltd.		17,092		187,434
				679,895
Materials 0.5%
Hanil Cement Co., Ltd.		1,330		159,655
Hansol Paper Co.		7,690		67,048
Huchems Fine Chemical Corp.		4,000		93,867
Kolon Industries, Inc.		4,420		186,303
OCI Materials Co., Ltd.		2,000		99,282
Poongsan Corp.		5,250		126,281
Seah Besteel Corp.		5,000		149,826
SK Chemicals Co., Ltd.		5,070		311,169
Ssangyong Cement Industrial Co., Ltd. *		7,030		65,989
Taekwang Industrial Co., Ltd.		240		257,773
Young Poong Corp.		186		216,226
				1,733,419
Media 0.2%
CJ CGV Co., Ltd.		4,500		210,795
CJ E&M Corp. *		5,700		188,551
CJ Hellovision Co., Ltd.		7,500		72,769
KT Skylife Co., Ltd.		2,500		42,646
SM Entertainment Co. *		5,350		169,006
YG Entertainment, Inc.		3,256		135,036
				818,803
Pharmaceuticals, Biotechnology & Life Sciences 0.4%
Chong Kun Dang Pharmaceutical Corp.		3,444		214,793
Daewoong Pharmaceutical Co., Ltd.		1,946		116,976
Dong-A Socio Holdings Co., Ltd.		1,113		126,072
Dong-A ST Co., Ltd.		1,254		99,147
Green Cross Corp.		1,070		137,619
Green Cross Holdings Corp.		6,400		121,305
Hanmi Pharm Co., Ltd. *		966		81,870
Ilyang Pharmaceutical Co., Ltd.		1,500		34,794
LG Life Sciences Ltd. *		3,920		143,646
Medy-Tox, Inc.		808		179,985
Naturalendo Tech Co., Ltd. *		2,953		142,593
Seegene, Inc. *		2,050		87,610
ViroMed Co., Ltd. *		3,507		164,912
				1,651,322
Retailing 0.3%
CJ O Shopping Co., Ltd.		618		142,347
GS Home Shopping, Inc.		705		135,916
Hyundai Greenfood Co. Ltd.		13,170		217,529
Hyundai Home Shopping Network Corp.		1,540		189,034
Interpark Corp.		7,700		61,853
Kolao Holdings		6,780		107,396
LOTTE Himart Co., Ltd.		2,950		189,841
				1,043,916
Semiconductors & Semiconductor Equipment 0.2%
Eo Technics Co., Ltd.		4,000		387,743
GemVax & Kael Co., Ltd. *		4,302		69,115
Hansol Technics Co., Ltd. *		1,340		15,844
Seoul Semiconductor Co., Ltd.		9,780		157,123
Wonik IPS Co., Ltd. *		9,800		124,274
				754,099
Software & Services 0.2%
Com2uSCorp *		2,391		293,493
Daou Technology, Inc.		6,600		69,994
Gamevil, Inc. *		1,891		252,600
Hancom, Inc.		5,000		86,872
Posco ICT Co., Ltd.		12,300		58,839
				761,798
Technology Hardware & Equipment 0.2%
Daeduck Electronics Co.		9,350		78,820
Daeduck GDS Co., Ltd.		3,200		32,926
Humax Co., Ltd.		9,800		106,142
LG Innotek Co., Ltd. *		3,550		320,091
Partron Co., Ltd.		11,480		109,314
SFA Engineering Corp.		3,081		138,345
Sindoh Co., Ltd.		750		50,160
				835,798
Telecommunication Services 0.0%
SK Broadband Co., Ltd. *		46,851		182,042
Transportation 0.1%
Asiana Airlines, Inc. *		23,700		106,099
Hanjin Kal Corp. *		3,188		84,163
Hanjin Transportation Co., Ltd.		3,950		178,970
Pan Ocean Co., Ltd. *		19,950		52,308
				421,540

15

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Utilities 0.1%
E1 Corp.		1,395		90,654
Samchully Co., Ltd.		1,305		160,777
				251,431
				16,874,946
Singapore 2.1%
Capital Goods 0.1%
United Engineers Ltd.		108,000		247,733
Vard Holdings Ltd. *(c)		150,000		71,922
				319,655
Commercial & Professional Services 0.0%
United Envirotech Ltd.		121,000		150,380
Consumer Services 0.1%
GuocoLeisure Ltd.		286,000		205,147
Raffles Education Corp., Ltd.		572,000		136,034
				341,181
Diversified Financials 0.0%
ARA Asset Management Ltd.		100,000		132,720
Energy 0.1%
Ezion Holdings Ltd.		312,480		317,634
Ezra Holdings Ltd.		283,000		144,377
Swiber Holdings Ltd.		286,000		69,114
				531,125
Food, Beverage & Tobacco 0.1%
First Resources Ltd.		143,000		212,827
Super Group Ltd. (c)		80,000		74,875
				287,702
Health Care Equipment & Services 0.1%
Biosensors International Group Ltd. *(c)		300,000		124,281
Raffles Medical Group Ltd.		64,000		190,011
Religare Health Trust		150,000		116,801
				431,093
Materials 0.0%
Midas Holdings Ltd.		300,000		63,291
Media 0.1%
Asian Pay Television Trust		328,000		220,176
Real Estate 1.2%
AIMS AMP Capital Industrial REIT		143,000		159,072
Ascendas India Trust		150,000		92,060
Ascott Residence Trust		150,000		146,720
Cache Logistics Trust		143,000		128,903
Cambridge Industrial Trust		288,000		152,451
CapitaRetail China Trust		100,000		122,363
CDL Hospitality Trusts		161,000		214,296
Far East Hospitality Trust		203,000		129,260
Frasers Centrepoint Trust		150,000		218,067
Frasers Commercial Trust		116,000		130,817
Ho Bee Land Ltd.		143,000		217,764
Keppel REIT		429,000		408,101
Lippo Malls Indonesia Retail Trust		450,000		127,733
Mapletree Commercial Trust		429,000		465,696
Mapletree Greater China Commercial Trust		429,000		324,177
Mapletree Industrial Trust		284,000		327,902
Mapletree Logistics Trust		346,000		313,218
OUE Hospitality Trust		165,000		114,557
Parkway Life Real Estate Investment Trust		150,000		270,426
Sabana Shari’ah Compliant Industrial Real Estate Investment Trust (c)		150,000		111,047
SPH REIT		120,000		97,583
Starhill Global REIT		450,000		279,632
Yoma Strategic Holdings Ltd. *(c)		229,813		125,176
				4,677,021
Retailing 0.0%
OSIM International Ltd.		60,000		99,425
Software & Services 0.1%
CSE Global Ltd.		150,000		75,374
Silverlake Axis Ltd.		145,000		144,055
				219,429
Transportation 0.1%
SATS Ltd.		170,000		382,125
Tiger Airways Holdings Ltd. *		256,000		60,882
				443,007
Utilities 0.1%
HanKore Environment Tech Group Ltd. *		64,000		51,554
Hyflux Ltd. (c)		143,000		99,831
SIIC Environment Holdings Ltd. *		1,040,000		135,635
				287,020
				8,203,225
Spain 2.0%
Automobiles & Components 0.0%
Cie Automotive S.A.		6,710		98,749
Banks 0.0%
Liberbank S.A. *		134,240		109,782
Capital Goods 0.5%
Abengoa S.A., B Shares		165,340		420,693
Construcciones y Auxiliar de Ferrocarriles S.A.		939		325,428
Fomento de Construcciones y Contratas S.A. *		6,123		119,918
Gamesa Corp. Tecnologica S.A. *		48,128		492,590
Obrascon Huarte Lain S.A.		11,194		305,056
Sacyr S.A. *		45,468		178,834
				1,842,519
Commercial & Professional Services 0.1%
Applus Services S.A. *		17,690		217,313
Prosegur Cia de Seguridad S.A.		53,248		316,640
				533,953
Consumer Services 0.1%
Melia Hotels International S.A.		16,289		166,514
NH Hotel Group S.A. *		36,207		174,005
				340,519
Diversified Financials 0.2%
Bolsas y Mercados Espanoles S.A.		15,662		646,864
Energy 0.1%
Tecnicas Reunidas S.A.		6,915		327,582

16 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Food, Beverage & Tobacco 0.2%
Ebro Foods S.A.		26,203		476,433
Viscofan S.A.		9,165		528,546
				1,004,979
Insurance 0.1%
Grupo Catalana Occidente S.A.		12,017		379,169
Materials 0.0%
Ence Energia y Celulosa S.A.		82,922		182,973
Media 0.1%
Atresmedia Corp de Medios de Comunicaion S.A.		17,111		236,352
Promotora de Informaciones S.A., Class A *		118,706		39,660
				276,012
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Almirall S.A. *		18,619		322,174
Faes Farma S.A.		62,707		150,484
Zeltia S.A. *		62,530		211,253
				683,911
Real Estate 0.1%
Inmobiliaria Colonial S.A. *		395,445		288,394
Software & Services 0.1%
Indra Sistemas S.A.		26,845		277,134
Telecommunication Services 0.2%
Jazztel plc *		49,950		797,058
Let’s GOWEX S.A. *(a)(b)(c)		5,361		—
				797,058
				7,789,598
Sweden 3.2%
Capital Goods 0.6%
Concentric AB		4,705		61,326
Haldex AB		7,893		98,107
Indutrade AB		7,260		289,740
Lindab International AB *		18,462		169,564
NCC AB, B Shares		24,453		760,018
Nibe Industrier AB, B Shares		9,261		247,644
Peab AB		66,199		453,223
Saab AB, Class B		5,799		162,237
				2,241,859
Commercial & Professional Services 0.2%
AF AB, B Shares		6,710		107,522
Intrum Justitia AB		7,831		235,186
Loomis AB, B Shares		20,237		586,016
				928,724
Consumer Durables & Apparel 0.1%
JM AB		15,662		499,625
Nobia AB		9,508		80,810
				580,435
Consumer Services 0.2%
Betsson AB *		11,104		397,643
Rezidor Hotel Group AB *		48,828		221,113
				618,756
Diversified Financials 0.3%
Avanza Bank Holding AB		11,791		385,011
Investment AB Oresund *		10,938		228,552
LE Lundbergfortagen AB, B Shares		8,644		389,461
				1,003,024
Food & Staples Retailing 0.3%
Axfood AB		7,995		473,776
ICA Gruppen AB		16,714		646,829
				1,120,605
Food, Beverage & Tobacco 0.1%
AAK AB		8,894		490,001
Materials 0.4%
BillerudKorsnas AB		37,626		556,662
Hexpol AB		5,153		454,234
SSAB AB, A Shares *		46,985		333,988
SSAB AB, B Shares *		33,560		211,681
				1,556,565
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Swedish Orphan Biovitrum AB *		33,998		382,837
Real Estate 0.7%
Castellum AB		38,954		631,794
Fabege AB		31,450		415,845
Fastighets AB Balder, B Shares *		21,888		294,854
Hufvudstaden AB, A Shares		34,530		452,163
Kungsleden AB		38,591		257,208
Wallenstam AB, B Shares		31,342		513,810
Wihlborgs Fastigheter AB		19,478		350,069
				2,915,743
Retailing 0.1%
CDON Group AB *(c)		18,203		45,740
KappAhl AB *		8,909		51,118
Mekonomen AB		6,552		160,237
				257,095
Technology Hardware & Equipment 0.1%
Axis Communications AB (c)		10,934		284,300
Transportation 0.0%
SAS AB *		32,998		67,841
				12,447,785
Switzerland 3.4%
Automobiles & Components 0.1%
Autoneum Holding AG *		1,165		203,376
Banks 0.2%
Basler Kantonalbank		1,619		113,926
Liechtensteinische Landesbank AG		2,680		111,261
St. Galler Kantonalbank AG - Reg’d		492		184,979
Valiant Holding AG - Reg’d		4,993		438,669
				848,835
Capital Goods 0.9%
AFG Arbonia-Forster Holding AG - Reg’d *		2,888		63,095
Belimo Holding AG - Reg’d		106		261,287
Bucher Industries AG - Reg’d		1,684		419,471
Burckhardt Compression Holding AG		505		204,673
Daetwyler Holding AG		1,280		155,699
Georg Fischer AG - Reg’d *		972		596,718
Huber & Suhner AG - Reg’d		6,416		305,318
Implenia AG - Reg’d *		1,902		108,573

17

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Meyer Burger Technology AG *		19,922		158,177
OC Oerlikon Corp. AG - Reg’d *		47,769		592,464
Rieter Holding AG - Reg’d *		1,773		308,780
Schweiter Technologies AG		324		235,056
				3,409,311
Commercial & Professional Services 0.1%
Gategroup Holding AG *		3,913		98,891
Kaba Holding AG, B Shares - Reg’d *		903		466,964
				565,855
Consumer Durables & Apparel 0.1%
China Hongxing Sports Ltd. *(a)(b)		884,000		—
Forbo Holding AG - Reg’d *		474		508,683
				508,683
Consumer Services 0.1%
Kuoni Reisen Holding AG - Reg’d *		947		277,171
Diversified Financials 0.2%
Cembra Money Bank AG		1,981		116,886
Leonteq AG *		1,040		257,976
Vontobel Holding AG - Reg’d		12,106		454,839
				829,701
Food, Beverage & Tobacco 0.1%
Emmi AG - Reg’d *		600		233,056
Health Care Equipment & Services 0.2%
Nobel Biocare Holding AG - Reg’d *		24,999		443,677
Straumann Holding AG - Reg’d		1,340		347,691
				791,368
Insurance 0.2%
Helvetia Holding AG - Reg’d		1,274		628,075
Materials 0.0%
Schmolz + Bickenbach AG - Reg’d *		118,912		155,505
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
Basilea Pharmaceutica - Reg’d *		577		55,814
Cosmo Pharmaceuticals S.p.A.		1,140		179,134
Tecan Group AG - Reg’d		3,189		358,121
				593,069
Real Estate 0.2%
Allreal Holding AG - Reg’d *		2,995		413,114
Mobimo Holding AG - Reg’d *		2,181		439,143
				852,257
Retailing 0.1%
Valora Holding AG - Reg’d *		947		216,331
Semiconductors & Semiconductor Equipment 0.1%
ams AG		14,095		524,448
Software & Services 0.1%
Temenos Group AG - Reg’d *		11,704		414,226
Technology Hardware & Equipment 0.1%
Kudelski S.A.		6,677		86,624
Logitech International S.A. - Reg’d *		31,452		468,434
				555,058
Transportation 0.3%
Flughafen Zuerich AG - Reg’d		867		571,401
Panalpina Welttransport Holding AG - Reg’d		3,320		455,186
				1,026,587
Utilities 0.1%
Alpiq Holding AG - Reg’d *		577		55,993
BKW AG		4,978		153,448
				209,441
				12,842,353
United Kingdom 19.5%
Banks 0.2%
Bank of Georgia Holdings plc		3,437		116,585
The Paragon Group of Cos. plc		90,952		597,090
				713,675
Capital Goods 2.1%
Balfour Beatty plc		140,510		403,344
Bodycote plc		45,755		460,023
Carillion plc		102,112		555,856
Chemring Group plc		39,893		147,596
Diploma plc		20,135		225,299
Fenner plc		54,202		202,446
Galliford Try plc		21,766		411,426
Grafton Group plc		50,422		506,945
Interserve plc		42,708		388,255
Keller Group plc		15,662		207,748
Kier Group plc		10,938		241,697
Morgan Advanced Materials plc		76,813		351,015
Morgan Sindall Group plc		14,509		148,487
QinetiQ Group plc		155,762		482,740
Rotork plc		21,160		729,359
Senior plc		100,177		434,721
SIG plc		134,684		343,803
Speedy Hire plc		71,485		79,764
Spirax-Sarco Engineering plc		18,055		807,252
Ultra Electronics Holdings plc		16,628		455,444
Vesuvius plc		64,457		420,225
				8,003,445
Commercial & Professional Services 1.1%
Berendsen plc		46,010		740,715
Cape plc		22,504		88,899
De La Rue plc		24,069		201,094
Hays plc		268,485		558,372
HomeServe plc		65,825		337,811
Michael Page International plc		78,105		504,188
Mitie Group plc		104,223		457,338
Regus plc		149,044		459,118
RPS Group plc		64,180		237,202
Shanks Group plc		109,739		161,975
WS Atkins plc		25,554		558,263
				4,304,975
Consumer Durables & Apparel 0.6%
Bellway plc		33,183		979,044
Bovis Homes Group plc		38,699		521,199
Crest Nicholson Holdings plc		51,974		292,285
Redrow plc		52,722		232,009
Ted Baker plc		2,719		91,890
				2,116,427
Consumer Services 1.3%
888 Holdings plc		147		310
Betfair Group plc		15,662		331,121
Bwin.Party Digital Entertainment plc		219,496		370,554

18 

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Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Dignity plc		12,117		320,692
Domino’s Pizza Group plc		32,716		356,083
Enterprise Inns plc *		118,477		201,497
Greene King plc		57,696		696,184
J.D. Wetherspoon plc		29,991		384,663
Ladbrokes plc		190,236		331,584
Marston’s plc		132,263		299,718
Mitchells & Butlers plc *		56,664		326,381
Spirit Pub Co. plc		92,293		152,124
The Restaurant Group plc		48,522		493,921
Thomas Cook Group plc *		358,606		684,023
				4,948,855
Diversified Financials 1.7%
Brewin Dolphin Holdings plc		20,512		89,334
Close Brothers Group plc		40,947		972,777
Henderson Group plc		215,349		751,050
IG Group Holdings plc		95,491		1,013,159
Intermediate Capital Group plc		117,206		843,415
International Personal Finance plc		69,406		521,728
Jupiter Fund Management plc		78,374		445,415
Kennedy Wilson Europe Real Estate plc		23,392		387,211
Man Group plc		366,955		822,353
SVG Capital plc *		49,998		336,844
Tullett Prebon plc		69,409		274,136
				6,457,422
Energy 0.6%
Afren plc *		291,318		236,093
Cairn Energy plc *		110,431		281,028
EnQuest plc *		198,620		154,187
Genel Energy plc *		33,560		345,560
Hunting plc		42,727		385,417
Lamprell plc *		44,762		83,769
Ophir Energy plc *		112,323		255,588
Premier Oil plc		136,464		399,637
Soco International plc *		58,845		260,889
				2,402,168
Food & Staples Retailing 0.3%
Booker Group plc		334,823		743,528
Greggs plc		33,067		329,350
				1,072,878
Food, Beverage & Tobacco 0.5%
Britvic plc		56,687		589,020
Cranswick plc		12,611		291,107
Dairy Crest Group plc		49,038		387,820
Devro plc		51,898		226,147
Greencore Group plc		94,488		435,041
				1,929,135
Health Care Equipment & Services 0.2%
Al Noor Hospitals Group plc		4,620		71,556
NMC Health plc		8,890		66,061
Synergy Health plc		13,420		424,531
UDG Healthcare plc		64,099		371,113
				933,261
Insurance 1.3%
Amlin plc		129,219		900,922
Beazley plc		160,828		684,065
Catlin Group Ltd.		86,813		749,784
esure Group plc		58,041		191,516
Hiscox Ltd.		89,811		988,759
Jardine Lloyd Thompson Group plc		27,321		380,796
Lancashire Holdings Ltd.		50,589		427,815
Partnership Assurance Group plc		14,390		25,465
Phoenix Group Holdings		46,985		590,119
				4,939,241
Materials 1.4%
Acacia Mining plc		26,357		96,133
Alent plc		73,158		389,764
Aquarius Platinum Ltd. *		208,861		49,063
Centamin plc		320,954		229,702
DS Smith plc		266,488		1,201,921
Elementis plc		122,261		488,624
Essentra plc		64,493		762,545
Evraz plc		106,694		249,463
Hochschild Mining plc *		33,486		49,189
KAZ Minerals plc *		62,965		232,908
Lonmin plc *		93,655		255,203
Petra Diamonds Ltd. *		83,230		257,426
RPC Group plc		39,178		360,766
Synthomer plc		60,405		210,763
Victrex plc		22,631		639,006
				5,472,476
Media 0.5%
Cineworld Group plc		46,985		281,447
Entertainment One Ltd.		15,672		73,507
ITE Group plc		68,968		166,331
Rightmove plc		25,039		856,005
UBM plc		54,858		408,504
				1,785,794
Pharmaceuticals, Biotechnology & Life Sciences 0.5%
BTG plc *		85,832		1,084,747
Dechra Pharmaceuticals plc		23,511		293,083
Genus plc		18,210		368,164
				1,745,994
Real Estate 1.9%
Big Yellow Group plc		35,789		334,042
Capital & Counties Properties plc		183,322		1,081,761
Countrywide plc		20,541		137,809
Derwent London plc		25,273		1,202,800
Development Securities plc		24,806		87,018
Foxtons Group plc		31,437		74,685
Grainger plc		120,078		370,455
Great Portland Estates plc		92,719		1,043,281
Hansteen Holdings plc		145,123		236,815
Helical Bar plc		48,212		266,523
Londonmetric Property plc		171,437		409,699
Redefine International plc		59,936		47,119
Savills plc		39,061		404,038
Shaftesbury plc		62,363		781,309
ST Modwen Properties plc		31,121		186,663
The Unite Group plc		64,478		466,205
Workspace Group plc		24,925		268,553
				7,398,775
Retailing 1.9%
Darty plc		151,358		158,220
Debenhams plc		318,092		358,667
Dixons Carphone plc		214,906		1,424,632
Dunelm Group plc		23,511		311,308

19

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Halfords Group plc		61,640		461,420
Home Retail Group plc		228,453		716,969
Howden Joinery Group plc		169,016		1,035,193
Inchcape plc		120,695		1,358,069
Mothercare plc *		21,953		62,914
N Brown Group plc		43,651		232,765
Ocado Group plc *		114,883		584,716
SuperGroup plc *		8,944		123,539
WH Smith plc		29,287		579,274
				7,407,686
Semiconductors & Semiconductor Equipment 0.1%
CSR plc		35,943		466,069
Imagination Technologies Group plc *		36,419		111,217
				577,286
Software & Services 0.8%
AVEVA Group plc		16,601		375,671
Computacenter plc		28,204		283,343
Fidessa Group plc		11,893		444,021
Micro Focus International plc		38,216		682,868
Moneysupermarket.com Group plc		72,550		257,797
Playtech plc		37,343		375,448
Telecity Group plc		43,864		557,446
Xchanging plc		34,997		93,857
				3,070,451
Technology Hardware & Equipment 1.1%
Domino Printing Sciences plc		26,724		278,728
Electrocomponents plc		124,388		408,102
Halma plc		86,223		904,698
Laird plc		87,887		417,586
Oxford Instruments plc		15,638		282,368
Pace plc		79,898		449,947
Premier Farnell plc		111,290		292,103
Renishaw plc		7,831		237,917
Spectris plc		25,402		750,664
Spirent Communications plc		153,133		161,155
				4,183,268
Telecommunication Services 0.2%
Cable & Wireless Communications plc		512,000		396,900
Colt Group S.A. *		117,228		250,410
Kcom Group plc		141,104		187,829
				835,139
Transportation 0.8%
BBA Aviation plc		133,255		716,204
Firstgroup plc *		289,213		511,802
Go-Ahead Group plc		9,995		407,596
National Express Group plc		98,212		407,429
Northgate plc		24,160		187,665
Stagecoach Group plc		101,946		647,072
Stobart Group Ltd. (c)		77,057		123,692
				3,001,460
Utilities 0.4%
APR Energy plc (c)		19,756		93,513
Infinis Energy plc		23,040		81,256
Pennon Group plc		93,824		1,314,317
Telecom Plus plc		10,595		202,260
				1,691,346
				74,991,157
Total Common Stock
(Cost $365,107,118)				379,930,441
Preferred Stock 0.3% of net assets
Germany 0.2%
Capital Goods 0.1%
Jungheinrich AG		4,435		266,769
Health Care Equipment & Services 0.1%
Draegerwerk AG & Co. KGaA		1,608		166,704
Sartorius AG		1,876		218,155
				384,859
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Biotest AG		1,523		162,315
				813,943
Italy 0.1%
Insurance 0.1%
Unipol Gruppo Finanziario S.p.A.		87,064		413,097
Total Preferred Stock
(Cost $1,084,089)				1,227,040
Rights 0.1% of net assets
Australia 0.0%
Energy 0.0%
Paladin Energy Ltd. *(a)		103,248		10,134
Utilities 0.0%
DUET Group *(a)(b)		37,798		1,936
				12,070
Belgium 0.0%
Materials 0.0%
Tessenderlo Chemie N.V. *		10,969		18,187
Sweden 0.0%
Retailing 0.0%
CDON Group AB *(c)		18,061		7,038
United Kingdom 0.1%
Media 0.1%
UBM plc *		43,886		123,023
Total Rights
(Cost $127,325)				160,318

20 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Other Investment Companies 1.1% of net assets
Australia 0.0%
Diversified Financials 0.0%
Platinum Capital Ltd.		58,727		91,977
Switzerland 0.2%
Pharmaceuticals, Biotechnology & Life Sciences 0.2%
BB Biotech AG - Reg’d *		2,714		628,431
United Kingdom 0.1%
Real Estate 0.1%
F&C Commercial Property Trust Ltd.		166,540		341,139
United States 0.8%
Equity Fund 0.1%
iShares MSCI EAFE Small-Cap ETF		5,000		239,450
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d)		122,064		122,064
Securities Lending Collateral 0.7%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d)		2,772,126		2,772,126
				3,133,640
Total Other Investment Companies
(Cost $3,747,578)				4,195,187
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $370,145,574 and the unrealized appreciation and depreciation were $56,172,904 and ($40,805,492), respectively, with a net unrealized appreciation of $15,367,412.

*	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 $157,148 or 0.0% of net assets.
(c)	All or a portion of this security is on loan. Securities on loan were valued at $2,498,546.
(d)	The rate shown is the 7-day yield.
(e)	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 $89,969 or 0.0% of net assets.

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

21

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

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.

•  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, without consideration to the classification level of the specific investments held by the underlying fund.

•  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.

22 

 Schwab International Small-Cap Equity ETF

Portfolio Holdings (Unaudited) continued

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$353,046,155		$—		$—		$353,046,155
Australia1		16,835,027		—		—		16,835,027
Materials		1,832,448		—		77,884		1,910,332
Hong Kong1		7,381,598		—		—		7,381,598
Materials		546,472		—		210,857		757,329
Preferred Stock1		1,227,040		—		—		1,227,040
Rights1		148,248		—		—		148,248
Australia1		—		—		12,070		12,070
Other Investment Companies1		4,195,187		—		—		4,195,187
Total		$385,212,175		$—		$300,811		$385,512,986

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			November 30,
Investments in Securities	2014		(Losses)		(Depreciation)			Purchases		Sales		in		out			2014
Common Stock
Australia		$93,288		$—		($60,675	)		$11,933		$—		$126,626		($93,288	)		$77,884
Hong Kong		107,869		—		(27,831	)		238,688		—		—		(107,869	)		210,857
Spain		27,964		—		(27,964	)		—		—		—		—			—
Rights
Australia		—		—		12,070			—		—		—		—			12,070
Total		$229,121		$—		($104,400	)		$250,621		$—		$126,626		($201,157	)		$300,811

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 between Level 1 and Level 3 for the period ended November 30, 2014. Transfers from Level 1 to Level 3 are a result of fair valued securities for which no quoted value was available. Transfers from Level 3 to Level 1 are a result of the availability of current and reliable market-based data provided by third-party pricing services or other valuation techniques which utilize significant observable inputs. There were no transfers between Level 1 and Level 2 for the period ended November 30, 2014.

REG56691NOV14

23

Schwab Strategic Trust
Schwab Emerging Markets Equity ETF™

Portfolio Holdings as of November 30, 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				($)		($)
	96	.7%	Common Stock		1,131,433,306		1,188,456,470
	3	.1%	Preferred Stock		45,445,608		38,058,070
	1	.4%	Other Investment Companies		17,270,072		17,270,072
	0	.0%	Short-Term Investments		100,000		100,000
	101	.2%	Total Investments		1,194,248,986		1,243,884,612
	(1	.2)%	Other Assets and Liabilities, Net				(14,925,722	)
	100	.0%	Net Assets				1,228,958,890

	Number		Value
Security	of Shares		($)
Common Stock 96.7% of net assets
Brazil 8.5%
Banks 1.7%
Banco Bradesco S.A.		179,055		2,652,409
Banco do Brasil S.A.		315,716		3,633,850
Itau Unibanco Holding S.A. ADR		972,126		14,640,218
				20,926,477
Capital Goods 0.3%
Embraer S.A.		256,207		2,351,171
WEG S.A.		107,117		1,263,257
				3,614,428
Consumer Durables & Apparel 0.1%
Cyrela Brazil Realty S.A. Empreendimentos e Participacoes		143,100		691,600
MRV Engenharia e Participacoes S.A.		114,480		379,963
				1,071,563
Consumer Services 0.4%
Estacio Participacoes S.A.		86,337		934,741
Kroton Educacional S.A.		572,376		3,983,891
				4,918,632
Diversified Financials 0.4%
BM&FBovespa S.A.		682,909		2,794,146
CETIP S.A. - Mercados Organizados		50,098		645,271
Grupo BTG Pactual		95,462		1,108,020
				4,547,437
Energy 0.8%
Cosan S.A. Industria e Comercio		47,700		590,683
Petroleo Brasileiro S.A.		1,335,600		6,299,389
Ultrapar Participacoes S.A. ADR		143,100		3,036,582
				9,926,654
Food & Staples Retailing 0.1%
Raia Drogasil S.A.		95,400		903,616
Food, Beverage & Tobacco 1.7%
AMBEV S.A. ADR		1,629,846		10,675,491
BRF S.A. ADR		306,711		7,977,553
JBS S.A.		200,340		933,243
M Dias Branco S.A.		16,297		618,085
Souza Cruz S.A.		143,100		1,138,778
				21,343,150
Health Care Equipment & Services 0.1%
Qualicorp S.A. *		61,056		658,899
Household & Personal Products 0.1%
Hypermarcas S.A. *		95,239		641,446
Natura Cosmeticos S.A.		73,027		999,849
				1,641,295
Insurance 0.3%
BB Seguridade Participacoes S.A.		199,129		2,594,965
Porto Seguro S.A.		38,160		460,844
Sul America S.A.		95,400		470,325
				3,526,134
Materials 1.0%
Companhia Siderurgica Nacional S.A.		238,589		561,266
Duratex S.A.		137,519		447,889
Fibria Celulose S.A. ADR *(a)		47,700		563,337
Klabin S.A.		91,584		495,952
Vale S.A.		468,040		4,233,354
Vale S.A. ADR		710,253		5,518,666
				11,820,464
Real Estate 0.2%
BR Malls Participacoes S.A.		148,904		1,066,470
BR Properties S.A.		95,400		405,516
Multiplan Empreendimentos Imobiliarios S.A.		23,850		477,824
				1,949,810
Retailing 0.2%
B2W Cia Digital *		35,592		395,014
Cia Hering		47,700		452,734
Lojas Americanas S.A.		53,186		270,467
Lojas Renner S.A.		47,700		1,419,306
				2,537,521
Software & Services 0.4%
Cielo S.A.		267,800		4,568,937
Totvs S.A.		47,700		657,899
				5,226,836

1

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Telecommunication Services 0.1%
Tim Participacoes S.A.		381,678		1,846,124
Transportation 0.3%
ALL - America Latina Logistica S.A.		232,968		562,513
CCR S.A.		363,680		2,491,781
Cosan Logistica S.A. *		47,700		64,253
Localiza Rent a Car S.A.		38,450		522,408
				3,640,955
Utilities 0.3%
Companhia de Saneamento Basico do Estado de Sao Paulo		114,480		853,695
CPFL Energia S.A. ADR (a)		62,010		953,094
EDP - Energias do Brasil S.A.		143,100		561,057
Tractebel Energia S.A.		95,400		1,283,949
Transmissora Alianca de Energia Eletrica S.A.		47,700		361,076
				4,012,871
				104,112,866
Chile 1.5%
Banks 0.3%
Banco de Chile ADR		13,640		989,582
Banco de Credito e Inversiones		9,824		519,402
Banco Santander Chile ADR		64,411		1,408,025
Corpbanca S.A.		70,510,716		890,485
				3,807,494
Energy 0.2%
Empresas COPEC S.A.		165,519		1,953,380
Food & Staples Retailing 0.1%
Cencosud S.A.		405,927		1,052,927
Food, Beverage & Tobacco 0.1%
Cia Cervecerias Unidas S.A.		60,579		629,655
Materials 0.1%
Empresas CMPC S.A.		392,687		981,976
Sociedad Quimica y Minera de Chile S.A. ADR		33,390		841,428
				1,823,404
Retailing 0.1%
S.A.C.I. Falabella		176,013		1,263,288
Telecommunication Services 0.0%
ENTEL Chile S.A.		31,959		356,105
Transportation 0.1%
Latam Airlines Group S.A. ADR *(a)		134,991		1,606,393
Utilities 0.5%
Colbun S.A.		4,370,751		1,167,139
Empresa Nacional de Electricidad S.A. ADR		49,131		2,231,530
Enersis S.A. ADR		145,962		2,449,242
				5,847,911
				18,340,557
China 22.4%
Automobiles & Components 0.7%
Brilliance China Automotive Holdings Ltd.		1,110,000		1,892,224
Byd Co., Ltd., H Shares (a)		238,500		1,446,992
Chongqing Changan Automobile Co., Ltd., B Shares		333,900		708,273
Dongfeng Motor Group Co., Ltd., H Shares		1,024,000		1,558,117
Geely Automobile Holdings Ltd.		1,005,000		436,731
Great Wall Motor Co., Ltd., H Shares		395,000		1,991,554
Guangzhou Automobile Group Co., Ltd., H Shares		955,662		904,521
				8,938,412
Banks 5.3%
Agricultural Bank of China Ltd., H Shares		8,586,000		4,074,337
Bank of China Ltd., H Shares		25,758,000		13,285,880
Bank of Communications Co., Ltd., H Shares		3,962,200		3,285,228
China CITIC Bank Corp., Ltd., H Shares		3,878,800		2,885,967
China Construction Bank Corp., H Shares		24,512,000		18,585,501
China Merchants Bank Co., Ltd., H Shares		1,544,359		3,198,247
China Minsheng Banking Corp., Ltd., H Shares		2,428,720		2,668,304
Chongqing Rural Commercial Bank Co., Ltd., H Shares		1,124,000		636,281
Huishang Bank Corp., Ltd., H Shares (a)		704,000		305,929
Industrial & Commercial Bank of China Ltd., H Shares		24,770,336		16,801,027
				65,726,701
Capital Goods 1.3%
AviChina Industry & Technology Co., Ltd., H Shares		982,000		692,655
Beijing Enterprises Holdings Ltd.		238,500		1,903,694
China Communications Construction Co., Ltd., H Shares		1,908,000		1,909,230
China International Marine Containers Group Co., Ltd., H Shares		333,900		760,371
China Railway Construction Corp., Ltd., H Shares		715,500		822,064
China Railway Group Ltd., H Shares		1,305,000		945,725
China State Construction International Holdings Ltd.		600,000		911,412
CITIC Ltd.		1,431,000		2,494,793
CSR Corp., Ltd., H Shares (c)(d)		982,000		999,095
Haitian International Holdings Ltd.		180,000		382,979

2 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Shanghai Electric Group Co., Ltd., H Shares		954,000		572,031
Shanghai Industrial Holdings Ltd.		315,000		970,793
Sinopec Engineering Group Co., Ltd., H shares		477,000		418,259
Weichai Power Co., Ltd., H Shares		197,000		746,847
Zhuzhou CSR Times Electric Co., Ltd., H Shares (c)(d)		238,500		1,025,658
Zoomlion Heavy Industry Science & Technology Co., Ltd., H Shares (a)		798,700		475,821
				16,031,427
Commercial & Professional Services 0.1%
China Everbright International Ltd.		1,104,000		1,699,776
Consumer Durables & Apparel 0.2%
ANTA Sports Products Ltd.		477,000		987,830
Haier Electronics Group Co., Ltd.		329,000		918,485
Shenzhou International Group Holdings Ltd.		196,000		652,069
				2,558,384
Diversified Financials 0.3%
China Cinda Asset Management Co., Ltd., H Shares *(a)		1,305,000		696,673
CITIC Securities Co., Ltd., H Shares		388,500		1,139,700
Far East Horizon Ltd.		755,000		702,915
Haitong Securities Co., Ltd., H Shares		695,600		1,480,000
				4,019,288
Energy 2.6%
China Coal Energy Co., Ltd., H Shares (a)		1,603,000		1,000,454
China Oilfield Services Ltd., H Shares		652,000		1,148,462
China Petroleum & Chemical Corp., H Shares		8,654,000		7,086,125
China Shenhua Energy Co., Ltd., H Shares		1,144,000		3,252,766
CNOOC Ltd.		5,724,000		8,370,104
Inner Mongolia Yitai Coal Co., Ltd., B Shares		667,800		1,002,368
Kunlun Energy Co., Ltd.		954,000		1,032,116
PetroChina Co., Ltd., H Shares		7,632,000		8,276,611
Yanzhou Coal Mining Co., Ltd., H Shares (a)		954,000		813,145
				31,982,151
Food & Staples Retailing 0.1%
China Resources Enterprise Ltd.		444,000		926,360
Food, Beverage & Tobacco 0.2%
China Agri-Industries Holdings Ltd.		956,000		371,059
China Huishan Dairy Holdings Co., Ltd. (a)		3,339,000		701,814
China Yurun Food Group Ltd. *		477,000		215,896
Tsingtao Brewery Co., Ltd., H Shares		146,000		1,025,106
				2,313,875
Health Care Equipment & Services 0.2%
Shandong Weigao Group Medical Polymer Co., Ltd., H Shares		676,000		598,855
Shanghai Pharmaceuticals Holding Co., Ltd., H Shares		238,500		568,341
Sinopharm Group Co., H Shares		398,800		1,486,179
				2,653,375
Household & Personal Products 0.2%
Hengan International Group Co., Ltd.		238,500		2,584,903
Insurance 1.9%
China Life Insurance Co., Ltd., H Shares		2,677,000		9,303,050
China Pacific Insurance (Group) Co., Ltd., H Shares		691,900		2,899,645
China Taiping Insurance Holdings Co., Ltd. *		477,000		1,230,174
New China Life Insurance Co., Ltd., H Shares		156,300		708,439
PICC Property & Casualty Co., Ltd., H Shares		1,434,000		2,888,340
Ping An Insurance Group Co. of China Ltd., H Shares		715,500		6,001,712
				23,031,360
Materials 0.8%
Aluminum Corp. of China Ltd., H Shares *(a)		1,296,000		563,188
Anhui Conch Cement Co., Ltd., H Shares (a)		477,000		1,614,603
BBMG Corp., H Shares		715,500		591,406
China BlueChemical Ltd., H Shares		1,908,000		691,358
China National Building Material Co., Ltd., H Shares		1,114,000		1,088,861
China Resources Cement Holdings Ltd.		954,000		654,453
China Zhongwang Holdings Ltd. (a)		1,335,600		604,508
Fosun International Ltd.		715,500		873,731
Jiangxi Copper Co., Ltd., H Shares		480,000		861,586
Lee & Man Paper Manufacturing Ltd.		954,000		531,435
Nine Dragons Paper Holdings Ltd.		477,000		407,188
Zhaojin Mining Industry Co., Ltd., H Shares (a)		573,000		299,984
Zijin Mining Group Co., Ltd., H Shares		2,862,000		763,938
				9,546,239
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
CSPC Pharmaceutical Group Ltd.		1,066,000		948,472

3

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Shanghai Fosun Pharmaceutical Group Co., Ltd., H Shares		93,500		335,177
Sihuan Pharmaceutical Holdings Group Ltd.		1,734,000		1,296,867
Sino Biopharmaceutical Ltd.		988,000		977,171
				3,557,687
Real Estate 1.2%
China Overseas Land & Investment Ltd.		1,418,000		4,260,400
China Resources Land Ltd.		954,000		2,411,141
China Vanke Co., Ltd., H Shares *(a)		774,100		1,585,133
Country Garden Holdings Co., Ltd.		1,494,000		624,186
Evergrande Real Estate Group Ltd. (a)		2,385,000		968,762
Greentown China Holdings Ltd. (a)		477,000		481,613
Guangzhou R&F Properties Co., Ltd., H Shares		424,400		524,275
Longfor Properties Co., Ltd.		477,000		642,151
Renhe Commercial Holdings Co., Ltd. *(a)		6,678,000		310,004
Shimao Property Holdings Ltd.		477,000		1,141,601
Sino-Ocean Land Holdings Ltd.		1,908,000		1,144,062
SOHO China Ltd.		404,000		305,800
Yuexiu Property Co., Ltd.		4,770,000		953,385
				15,352,513
Retailing 0.3%
Belle International Holdings Ltd.		1,908,000		2,167,567
GOME Electrical Appliances Holdings Ltd.		5,247,000		771,319
Zhongsheng Group Holdings Ltd. (a)		238,500		242,652
				3,181,538
Semiconductors & Semiconductor Equipment 0.2%
GCL-Poly Energy Holdings Ltd. *		4,302,000		1,170,499
Hanergy Thin Film Power Group Ltd. *(a)		2,862,000		719,652
				1,890,151
Software & Services 2.2%
Kingsoft Corp., Ltd. (a)		277,000		663,657
Tencent Holdings Ltd.		1,604,500		25,655,448
TravelSky Technology Ltd., H Shares		477,000		535,126
				26,854,231
Technology Hardware & Equipment 0.4%
Kingboard Chemical Holdings Ltd.		272,500		509,510
Lenovo Group Ltd.		2,388,000		3,350,282
ZTE Corp., H Shares		303,960		727,466
				4,587,258
Telecommunication Services 2.3%
China Mobile Ltd.		1,782,000		21,956,170
China Telecom Corp., Ltd., H Shares		6,678,000		4,047,273
China Unicom (Hong Kong) Ltd.		1,908,000		2,903,211
				28,906,654
Transportation 0.6%
Air China Ltd., H Shares		1,416,000		1,086,422
China COSCO Holdings Co., Ltd., H Shares *(a)		1,213,500		596,188
China Merchants Holdings International Co., Ltd.		512,000		1,752,882
China Shipping Container Lines Co., Ltd., H Shares *(a)		1,908,000		560,959
COSCO Pacific Ltd.		954,000		1,296,603
Jiangsu Expressway Co., Ltd., H Shares		378,000		428,449
Sinotrans Ltd.		568,000		428,472
Zhejiang Expressway Co., Ltd., H Shares		954,000		1,067,791
				7,217,766
Utilities 1.0%
Beijing Enterprises Water Group Ltd. *		1,279,000		879,055
Beijing Jingneng Clean Energy Co., Ltd., H Shares (a)		488,000		240,382
China Gas Holdings Ltd.		538,000		1,004,544
China Longyuan Power Group Corp., Ltd., H Shares		954,000		1,025,965
China Resources Gas Group Ltd.		230,000		646,551
China Resources Power Holdings Co., Ltd.		954,000		2,780,193
Datang International Power Generation Co., Ltd., H Shares		2,862,000		1,609,068
ENN Energy Holdings Ltd.		238,000		1,454,700
Huadian Fuxin Energy Corp., Ltd., H Shares (a)		476,000		255,340
Huaneng Power International, Inc., H Shares		1,294,000		1,516,758
Huaneng Renewables Corp., Ltd., H Shares		954,000		346,909
				11,759,465
				275,319,514
Colombia 0.8%
Banks 0.2%
Bancolombia S.A. ADR		38,160		1,972,872
Diversified Financials 0.2%
Corp. Financiera Colombiana S.A.		57,787		1,040,195
Grupo de Inversiones Suramericana S.A.		75,366		1,383,212
				2,423,407
Energy 0.1%
Ecopetrol S.A. ADR (a)		87,326		1,771,845
Food & Staples Retailing 0.1%
Almacenes Exito S.A.		92,538		1,117,462

4 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Materials 0.1%
Cementos Argos S.A.		143,577		619,491
Cemex Latam Holdings S.A. *		53,424		408,342
				1,027,833
Utilities 0.1%
Interconexion Electrica S.A. ESP		135,468		502,403
Isagen S.A. ESP		466,029		610,187
				1,112,590
				9,426,009
Czech Republic 0.3%
Banks 0.1%
Komercni Banka A/S		5,247		1,168,777
Telecommunication Services 0.1%
O2 Czech Republic A/S		51,301		588,957
Utilities 0.1%
CEZ A/S		62,487		1,744,817
				3,502,551
Egypt 0.3%
Banks 0.2%
Commercial International Bank Egypt SAE GDR - Reg’d		421,191		2,809,344
Telecommunication Services 0.1%
Global Telecom Holding SAE GDR *		425,973		1,241,711
Orascom Telecom Media & Technology Holding SAE GDR *(b)(d)		176,826		160,753
				1,402,464
				4,211,808
Hungary 0.3%
Banks 0.1%
OTP Bank plc		76,320		1,231,756
Energy 0.1%
MOL Hungarian Oil & Gas plc		25,643		1,241,794
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Richter Gedeon Nyrt		52,470		818,861
				3,292,411
India 11.7%
Automobiles & Components 0.8%
Bajaj Auto Ltd.		35,298		1,502,135
Hero MotoCorp Ltd.		30,529		1,548,416
Mahindra & Mahindra Ltd.		105,894		2,258,918
Maruti Suzuki India Ltd.		28,620		1,543,280
Tata Motors Ltd.		336,285		2,891,114
				9,743,863
Banks 2.8%
Axis Bank Ltd.		558,878		4,333,770
Bank of Baroda		35,366		619,610
HDFC Bank Ltd.		398,848		6,151,919
Housing Development Finance Corp., Ltd.		543,780		10,170,627
ICICI Bank Ltd.		194,616		5,502,124
IndusInd Bank Ltd.		96,465		1,166,581
Kotak Mahindra Bank Ltd.		120,204		2,329,310
State Bank of India		548,550		2,841,092
Yes Bank Ltd.		68,688		785,836
				33,900,869
Capital Goods 0.5%
ABB India Ltd.		17,172		308,075
Adani Enterprises Ltd.		103,986		769,066
Bharat Heavy Electricals Ltd.		267,120		1,221,636
Cummins India Ltd.		57,240		794,977
Eicher Motors Ltd.		2,862		669,608
Larsen & Toubro Ltd.		87,109		2,301,219
Siemens Ltd.		29,097		425,143
				6,489,724
Consumer Durables & Apparel 0.0%
Titan Co., Ltd.		100,170		598,631
Diversified Financials 0.4%
Bajaj Holdings & Investment Ltd.		36,164		833,249
IDFC Ltd.		446,472		1,146,848
Mahindra & Mahindra Financial Services Ltd.		100,647		503,357
Power Finance Corp., Ltd.		134,514		671,324
Rural Electrification Corp., Ltd.		131,175		713,002
Shriram Transport Finance Co., Ltd.		44,838		780,284
				4,648,064
Energy 1.5%
Bharat Petroleum Corp., Ltd.		101,501		1,220,613
Cairn India Ltd.		158,841		666,669
Coal India Ltd.		223,236		1,277,073
Indian Oil Corp., Ltd.		131,652		774,255
Oil & Natural Gas Corp., Ltd.		712,161		4,354,103
Reliance Industries Ltd.		552,760		8,832,758
The Great Eastern Shipping Co., Ltd.		114,003		733,106
				17,858,577
Food, Beverage & Tobacco 0.6%
ITC Ltd.		704,052		4,120,159
Nestle India Ltd.		12,402		1,239,910
United Spirits Ltd. *		35,298		1,556,030
				6,916,099
Household & Personal Products 0.4%
Colgate-Palmolive (India) Ltd.		25,281		758,247
Dabur India Ltd.		180,602		701,104
Godrej Consumer Products Ltd.		29,097		447,509
Hindustan Unilever Ltd.		264,258		3,347,566
				5,254,426
Materials 0.7%
Ambuja Cements Ltd.		222,400		823,943
Asian Paints Ltd.		101,761		1,221,197
Hindalco Industries Ltd.		451,146		1,265,361
Jindal Steel & Power Ltd.		163,611		370,962
JSW Steel Ltd.		57,093		1,104,874

5

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
NMDC Ltd.		256,626		578,758
Sesa Sterlite Ltd.		471,276		1,756,985
Tata Steel Ltd.		93,492		713,149
Ultratech Cement Ltd.		33,390		1,336,703
				9,171,932
Media 0.1%
Zee Entertainment Enterprises Ltd.		226,892		1,396,526
Pharmaceuticals, Biotechnology & Life Sciences 0.9%
Cipla Ltd.		185,076		1,894,304
Dr. Reddy’s Laboratories Ltd.		37,683		2,189,901
Glenmark Pharmaceuticals Ltd.		36,252		478,774
Lupin Ltd.		71,954		1,716,611
Piramal Enterprises Ltd.		31,005		404,531
Ranbaxy Laboratories Ltd. *		47,700		470,697
Sun Pharmaceutical Industries Ltd.		271,890		3,679,092
				10,833,910
Real Estate 0.0%
DLF Ltd.		189,369		454,998
Software & Services 2.1%
HCL Technologies Ltd.		93,492		2,504,495
Infosys Ltd.		170,766		11,997,650
Oracle Financial Services Software Ltd.		6,678		359,986
Tata Consultancy Services Ltd.		148,824		6,338,600
Tech Mahindra Ltd.		47,437		2,018,146
Wipro Ltd. ADR		177,145		2,285,170
				25,504,047
Telecommunication Services 0.4%
Bharti Airtel Ltd.		518,022		3,191,360
Idea Cellular Ltd.		458,874		1,173,528
Reliance Communications Ltd. *		216,081		358,481
				4,723,369
Transportation 0.1%
Adani Ports & Special Economic Zone Ltd.		194,616		910,278
Utilities 0.4%
GAIL India Ltd.		158,364		1,245,884
NTPC Ltd.		728,856		1,676,058
Power Grid Corp. of India Ltd.		458,397		1,054,117
Reliance Infrastructure Ltd.		55,332		543,556
Tata Power Co., Ltd.		543,780		814,947
				5,334,562
				143,739,875
Indonesia 2.8%
Automobiles & Components 0.3%
PT Astra International Tbk		7,070,800		4,128,110
Banks 1.1%
PT Bank Central Asia Tbk		4,531,500		4,864,196
PT Bank Danamon Indonesia Tbk		891,600		306,844
PT Bank Mandiri (Persero) Tbk		3,100,959		2,674,336
PT Bank Negara Indonesia (Persero) Tbk		3,148,216		1,554,244
PT Bank Rakyat Indonesia (Persero) Tbk		3,735,300		3,527,477
				12,927,097
Capital Goods 0.1%
PT United Tractors Tbk		667,800		1,002,740
Energy 0.1%
PT Adaro Energy Tbk		7,558,000		668,849
PT Tambang Batubara Bukit Asam (Persero) Tbk		477,000		513,975
				1,182,824
Food, Beverage & Tobacco 0.3%
PT Astra Agro Lestari Tbk		196,200		385,841
PT Charoen Pokphand Indonesia Tbk		2,931,800		987,356
PT Gudang Garam Tbk		161,600		810,052
PT Indofood Sukses Makmur Tbk		1,692,900		929,403
				3,112,652
Household & Personal Products 0.1%
PT Unilever Indonesia Tbk		477,000		1,242,920
Materials 0.2%
PT Indocement Tunggal Prakarsa Tbk		477,000		964,436
PT Semen Indonesia (Persero) Tbk		1,034,800		1,356,670
PT Vale Indonesia Tbk		939,300		306,712
				2,627,818
Media 0.0%
PT Media Nusantara Citra Tbk		2,575,800		507,604
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
PT Kalbe Farma Tbk		9,873,900		1,415,874
Telecommunication Services 0.4%
PT Telekomunikasi Indonesia (Persero) Tbk		19,604,700		4,538,125
Transportation 0.0%
PT Jasa Marga Persero Tbk		958,000		529,867
Utilities 0.1%
PT Perusahaan Gas Negara (Persero) Tbk		3,816,000		1,860,472
				35,076,103
Malaysia 4.6%
Automobiles & Components 0.1%
UMW Holdings Berhad		333,900		1,113,494
Banks 1.4%
Alliance Financial Group Berhad		766,600		1,103,723
AMMB Holdings Berhad		763,200		1,502,709
CIMB Group Holdings Berhad		1,779,900		3,067,795
Hong Leong Bank Berhad		244,100		1,031,967
Malayan Banking Berhad		1,669,500		4,669,171
Public Bank Berhad		993,330		5,456,340
RHB Capital Berhad		244,100		590,314
				17,422,019
Capital Goods 0.5%
Gamuda Berhad		1,051,600		1,644,631

6 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
IJM Corp. Berhad		485,500		973,153
Sime Darby Berhad		1,097,100		3,139,668
				5,757,452
Consumer Services 0.3%
Berjaya Sports Toto Berhad		291,856		300,269
Genting Berhad		858,600		2,327,675
Genting Malaysia Berhad		1,112,000		1,387,329
				4,015,273
Energy 0.2%
Bumi Armada Berhad *		810,900		275,694
Petronas Dagangan Berhad		95,400		453,520
SapuraKencana Petroleum Berhad		1,468,000		1,215,196
				1,944,410
Food, Beverage & Tobacco 0.5%
British American Tobacco Malaysia Berhad		47,700		995,601
Felda Global Ventures Holdings Berhad		429,300		418,829
IOI Corp. Berhad		1,645,200		2,344,380
Kuala Lumpur Kepong Berhad		196,600		1,307,760
PPB Group Berhad		196,600		902,064
				5,968,634
Health Care Equipment & Services 0.1%
IHH Healthcare Berhad		954,000		1,387,636
Materials 0.2%
Lafarge Malaysia Berhad		143,100		428,983
Petronas Chemicals Group Berhad		1,001,700		1,667,279
				2,096,262
Media 0.0%
Astro Malaysia Holdings Berhad		238,500		237,619
Real Estate 0.1%
IOI Properties Group Berhad		667,800		485,673
KLCCP Stapled Group		148,600		298,738
SP Setia Berhad Group		777,400		746,947
				1,531,358
Telecommunication Services 0.7%
Axiata Group Berhad		1,812,600		3,783,284
DiGi.com Berhad		1,526,400		2,842,962
Maxis Berhad		814,100		1,667,912
Telekom Malaysia Berhad		238,500		499,211
				8,793,369
Transportation 0.1%
Malaysia Airports Holdings Berhad		238,500		490,749
MISC Berhad		572,400		1,237,027
				1,727,776
Utilities 0.4%
Petronas Gas Berhad		279,100		1,874,694
Tenaga Nasional Berhad		420,850		1,774,226
YTL Corp. Berhad		1,821,640		850,907
YTL Power International Berhad		1,249,425		565,150
				5,064,977
				57,060,279
Mexico 5.8%
Banks 0.6%
Grupo Financiero Banorte S.A.B. de C.V., O Shares		821,900		4,659,488
Grupo Financiero Inbursa S.A.B. de C.V., O Shares		763,200		2,060,677
Grupo Financiero Santander Mexico S.A.B. de C.V., B Shares		518,300		1,172,349
				7,892,514
Capital Goods 0.3%
Alfa S.A.B. de C.V., A Shares		858,600		2,284,905
Grupo Carso S.A.B. de C.V., Series A1		190,800		1,073,578
Promotora y Operadora de Infraestructura S.A.B. de C.V. *		55,800		690,889
				4,049,372
Diversified Financials 0.1%
Compartamos S.A.B. de C.V.		381,600		815,101
Food & Staples Retailing 0.4%
Controladora Comercial Mexicana S.A.B. de C.V.		190,800		701,443
Organizacion Soriana S.A.B. de C.V., B Shares		55,500		162,989
Wal-Mart de Mexico S.A.B. de C.V., Series V		2,098,800		4,492,117
				5,356,549
Food, Beverage & Tobacco 1.0%
Arca Continental S.A.B. de C.V.		143,100		920,592
Coca-Cola Femsa S.A.B. de C.V., Series L		155,300		1,541,631
Fomento Economico Mexicano S.A.B. de C.V.		763,200		7,289,515
Gruma S.A.B. de C.V., B Shares		47,700		526,151
Grupo Bimbo S.A.B. de C.V., Series A		667,800		1,879,002
Grupo Lala S.A.B. de C.V.		202,100		415,112
				12,572,003
Household & Personal Products 0.1%
Kimberly-Clark de Mexico S.A.B. de C.V., A Shares		286,200		648,388
Materials 1.1%
Alpek S.A. de C.V.		229,800		353,138
Cemex S.A.B. de C.V., Series CPO *		4,115,064		5,112,837
Grupo Mexico S.A.B. de C.V., Series B		1,383,300		4,534,121
Industrias CH S.A.B. de C.V., Series B *		47,700		246,397
Industrias Penoles S.A.B. de C.V.		47,700		1,043,482
Mexichem S.A.B. de C.V. *		429,300		1,566,201

7

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Minera Frisco S.A.B. de C.V., Series A1 *		216,700		366,994
				13,223,170
Media 0.6%
Grupo Televisa S.A.B., Series CPO		1,001,700		7,299,570
Pharmaceuticals, Biotechnology & Life Sciences 0.1%
Genomma Lab Internacional S.A.B. de C.V., B Shares *		273,500		593,840
Real Estate 0.2%
Concentradora Fibra Danhos S.A. de C.V.		111,200		288,485
Fibra Uno Administracion S.A. de C.V.		715,500		2,408,036
				2,696,521
Retailing 0.1%
Grupo Elektra S.A.B. de C.V.		14,310		604,511
Telecommunication Services 1.0%
America Movil S.A.B. de C.V., Series L		10,827,900		12,775,594
Transportation 0.2%
Grupo Aeroportuario del Sureste S.A.B. de C.V., B Shares		95,400		1,272,618
OHL Mexico S.A.B. de C.V. *		286,200		657,242
				1,929,860
Utilities 0.0%
Infraestructura Energetica Nova S.A.B. de C.V.		81,600		478,748
				70,935,741
Pakistan 0.0%
Energy 0.0%
Oil & Gas Development Co., Ltd. GDR - Reg’d (d)		9,984		219,648
Peru 0.3%
Banks 0.2%
Credicorp Ltd.		18,126		3,002,753
Materials 0.1%
Companhia de Minas Buenaventura S.A. ADR		102,555		948,634
				3,951,387
Philippines 1.7%
Banks 0.3%
Bank of the Philippine Islands		689,406		1,458,492
BDO Unibank, Inc.		664,770		1,616,588
Metropolitan Bank & Trust Co.		265,536		490,802
				3,565,882
Capital Goods 0.5%
Aboitiz Equity Ventures, Inc.		667,800		780,748
Alliance Global Group, Inc.		1,478,700		816,652
DMCI Holdings, Inc.		1,669,500		606,010
JG Summit Holdings, Inc.		699,960		960,974
San Miguel Corp.		310,050		535,795
SM Investments Corp.		130,545		2,338,792
				6,038,971
Consumer Services 0.1%
Jollibee Foods Corp.		152,640		703,629
Diversified Financials 0.1%
Ayala Corp.		76,320		1,179,514
GT Capital Holdings, Inc.		19,080		458,889
				1,638,403
Food, Beverage & Tobacco 0.1%
LT Group, Inc.		1,049,400		309,410
Universal Robina Corp.		295,740		1,284,910
				1,594,320
Real Estate 0.2%
Ayala Land, Inc.		1,908,000		1,444,650
SM Prime Holdings, Inc.		3,100,500		1,182,063
				2,626,713
Telecommunication Services 0.2%
Philippine Long Distance Telephone Co.		30,630		2,039,499
Transportation 0.1%
International Container Terminal Services, Inc.		443,610		1,145,947
Utilities 0.1%
Aboitiz Power Corp.		954,000		896,533
Energy Development Corp.		4,104,200		733,921
Manila Electric Co.		57,240		333,204
				1,963,658
				21,317,022
Poland 1.9%
Banks 0.7%
Bank Handlowy w Warszawie S.A.		20,511		659,248
Bank Millennium S.A.		200,340		459,941
Bank Pekao S.A.		42,930		2,366,049
Bank Zachodni WBK S.A.		9,063		1,057,501
Getin Noble Bank S.A. *		788,488		524,256
mBank		4,293		645,112
Powszechna Kasa Oszczednosci Bank Polski S.A.		291,924		3,268,309
				8,980,416
Consumer Durables & Apparel 0.1%
LPP S.A.		477		1,257,228
Energy 0.3%
Polski Koncern Naftowy Orlen S.A.		131,175		1,766,626
Polskie Gornictwo Naftowe i Gazownictwo S.A.		891,212		1,291,400
				3,058,026
Insurance 0.2%
Powszechny Zaklad Ubezpieczen S.A.		20,034		2,867,162
Materials 0.2%
KGHM Polska Miedz S.A.		56,907		2,085,264

8 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Synthos S.A.		235,161		291,677
				2,376,941
Media 0.0%
Cyfrowy Polsat S.A.		57,456		423,132
Telecommunication Services 0.1%
Orange Polska S.A.		230,391		651,891
Utilities 0.3%
Enea S.A.		83,952		448,051
Energa S.A.		85,860		601,080
PGE S.A.		321,498		1,855,782
Tauron Polska Energia S.A.		275,857		426,047
				3,330,960
				22,945,756
Russia 4.1%
Banks 0.5%
Sberbank of Russia *		1		1
Sberbank of Russia ADR		826,382		5,083,076
VTB Bank OJSC GDR - Reg’d		691,418		1,277,049
				6,360,126
Diversified Financials 0.1%
Moscow Exchange MICEX-RTS OAO		635,640		768,717
Energy 2.1%
Gazprom OAO		1		3
Gazprom OAO ADR		2,024,971		11,835,956
LUKOIL OAO *		1		46
Lukoil OAO ADR		177,444		8,258,244
NovaTek OAO *		189,300		1,760,129
Rosneft OJSC GDR - Reg’d		385,518		1,825,428
Surgutneftegas OAO *		1		1
Surgutneftegas OAO ADR		131,544		774,136
Tatneft OAO *		1		5
Tatneft OAO ADR		47,908		1,468,859
TMK OAO GDR - Reg’d		31,823		160,706
				26,083,513
Food & Staples Retailing 0.5%
Magnit PJSC GDR - Reg’d		106,290		6,148,877
Materials 0.5%
Magnitogorsk Iron & Steel Works OJSC *		1,524,800		384,679
MMC Norilsk Nickel OJSC *		1		178
MMC Norilsk Nickel OJSC ADR		173,551		3,082,266
Novolipetsk Steel OJSC GDR - Reg’d		27,367		333,056
PhosAgro OAO GDR - Reg’d		25,948		288,023
Severstal OAO GDR - Reg’d		82,593		759,030
Uralkali OJSC GDR - Reg’d		57,652		769,078
				5,616,310
Real Estate 0.0%
LSR Group GDR - Reg’d		58,358		135,099
Telecommunication Services 0.3%
MegaFon OAO GDR - Reg’d		47,011		970,777
Mobile Telesystems OJSC ADR		173,840		2,124,325
Rostelecom OJSC *		96,600		208,928
Sistema JSFC GDR - Reg’d		52,947		304,975
				3,609,005
Transportation 0.0%
Aeroflot-Russian Airlines OJSC *		381,600		322,265
Utilities 0.1%
E.ON Russia JSC *		3,656,000		182,533
Federal Grid Co. Unified Energy System JSC *		193,820,000		209,907
Inter RAO JSC *		1,245,799,999		225,490
Rosseti JSC *		28,372,001		296,658
RusHydro JSC *		17,996,000		218,255
				1,132,843
				50,176,755
South Africa 9.5%
Banks 0.7%
Barclays Africa Group Ltd.		111,141		1,794,917
Capitec Bank Holdings Ltd.		14,596		417,882
Nedbank Group Ltd.		60,579		1,332,447
Standard Bank Group Ltd.		428,346		5,281,377
				8,826,623
Capital Goods 0.4%
Aveng Ltd. *		187,938		289,397
Barloworld Ltd.		84,429		799,158
Reunert Ltd.		82,044		453,947
The Bidvest Group Ltd.		107,802		2,859,659
				4,402,161
Consumer Durables & Apparel 0.4%
Steinhoff International Holdings Ltd.		825,838		4,351,041
Consumer Services 0.0%
Sun International Ltd.		38,160		423,658
Diversified Financials 1.1%
Brait SE *		86,831		565,956
Coronation Fund Managers Ltd.		98,262		983,465
FirstRand Ltd.		1,081,592		4,866,258
Investec Ltd.		110,187		1,027,308
JSE Ltd.		63,479		616,775
Remgro Ltd.		163,134		3,734,220
RMB Holdings Ltd.		280,953		1,592,911
				13,386,893
Energy 0.7%
Exxaro Resources Ltd.		43,407		437,587
Sasol Ltd.		196,047		8,198,426
				8,636,013
Food & Staples Retailing 0.4%
Clicks Group Ltd.		89,748		646,715
Massmart Holdings Ltd.		37,743		478,719
Pick n Pay Stores Ltd.		101,124		502,119
Shoprite Holdings Ltd.		162,657		2,495,993
The SPAR Group Ltd.		60,579		864,059
				4,987,605
Food, Beverage & Tobacco 0.3%
AVI Ltd.		162,657		1,131,008

9

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Tiger Brands Ltd.		60,579		2,119,566
				3,250,574
Health Care Equipment & Services 0.3%
Life Healthcare Group Holdings Ltd.		355,842		1,346,507
Mediclinic International Ltd.		120,800		1,028,930
Netcare Ltd.		529,947		1,746,261
				4,121,698
Insurance 0.6%
Discovery Ltd.		153,594		1,550,331
MMI Holdings Ltd.		488,925		1,396,423
Sanlam Ltd.		622,962		4,128,078
				7,074,832
Materials 0.9%
Aeci Ltd.		58,194		698,023
African Rainbow Minerals Ltd.		34,344		415,305
Anglo American Platinum Ltd. *		23,850		804,248
AngloGold Ashanti Ltd. *		133,083		1,190,175
Gold Fields Ltd.		275,706		1,183,540
Harmony Gold Mining Co., Ltd. *		193,185		329,131
Impala Platinum Holdings Ltd. *		186,507		1,362,017
Kumba Iron Ore Ltd.		21,942		511,897
Mondi Ltd.		56,807		966,796
Nampak Ltd.		306,711		1,245,003
Northam Platinum Ltd. *		82,582		260,907
PPC Ltd.		224,667		520,050
Sappi Ltd. *		201,771		754,370
Sibanye Gold Ltd.		269,164		490,984
				10,732,446
Media 1.4%
Naspers Ltd., N Shares		128,216		16,643,879
Pharmaceuticals, Biotechnology & Life Sciences 0.3%
Aspen Pharmacare Holdings Ltd. *		111,618		4,041,751
Real Estate 0.2%
Capital Property Fund		720,270		841,125
Growthpoint Properties Ltd.		757,476		1,898,747
				2,739,872
Retailing 0.6%
Imperial Holdings Ltd.		67,257		1,217,707
Mr. Price Group Ltd.		95,400		2,039,702
The Foschini Group Ltd.		81,567		1,075,106
Truworths International Ltd.		158,841		1,143,155
Woolworths Holdings Ltd.		343,926		2,482,967
				7,958,637
Telecommunication Services 1.2%
MTN Group Ltd.		619,146		12,228,225
Telkom S.A. SOC Ltd. *		104,940		652,734
Vodacom Group Ltd.		125,451		1,510,091
				14,391,050
Transportation 0.0%
Grindrod Ltd.		142,623		296,311
				116,265,044
Taiwan 14.1%
Automobiles & Components 0.2%
Cheng Shin Rubber Industry Co., Ltd.		925,557		2,144,355
Yulon Motor Co., Ltd.		385,000		578,480
				2,722,835
Banks 1.4%
Chang Hwa Commercial Bank Ltd.		1,769,352		1,049,119
China Development Financial Holding Corp.		5,270,268		1,687,644
CTBC Financial Holding Co., Ltd.		4,943,707		3,362,631
E.Sun Financial Holding Co., Ltd.		2,524,239		1,598,678
Far Eastern International Bank		620,637		206,561
First Financial Holding Co., Ltd.		2,355,561		1,430,957
Hua Nan Financial Holdings Co., Ltd.		3,140,706		1,811,507
Mega Financial Holding Co., Ltd.		3,339,544		2,719,331
SinoPac Financial Holdings Co., Ltd.		2,331,616		979,433
Taishin Financial Holding Co., Ltd.		3,338,872		1,548,197
Taiwan Cooperative Financial Holding Co., Ltd.		2,272,171		1,196,749
				17,590,807
Capital Goods 0.3%
Far Eastern New Century Corp.		1,519,734		1,517,401
Taiwan Glass Industry Corp.		503,036		388,483
Teco Electric & Machinery Co., Ltd.		477,000		494,764
Walsin Lihwa Corp. *		1,908,000		615,295
				3,015,943
Consumer Durables & Apparel 0.2%
Formosa Taffeta Co., Ltd.		477,000		467,020
Giant Manufacturing Co., Ltd.		91,000		799,806
Pou Chen Corp.		743,580		898,615
				2,165,441
Diversified Financials 0.5%
Capital Securities Corp.		1,450,629		468,270
Fubon Financial Holding Co., Ltd.		2,510,078		4,112,156
Yuanta Financial Holding Co., Ltd.		3,322,848		1,632,032
				6,212,458
Energy 0.1%
Formosa Petrochemical Corp.		621,000		1,404,637
Food & Staples Retailing 0.1%
President Chain Store Corp.		169,000		1,316,068
Food, Beverage & Tobacco 0.2%
Uni-President Enterprises Corp.		1,759,437		2,842,616
Insurance 0.4%
Cathay Financial Holding Co., Ltd.		2,497,261		4,026,604

10 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Shin Kong Financial Holding Co., Ltd.		3,103,185		923,510
				4,950,114
Materials 1.6%
Asia Cement Corp.		1,011,206		1,297,193
China Steel Corp.		4,022,248		3,392,218
Formosa Chemicals & Fibre Corp.		1,492,500		3,375,879
Formosa Plastics Corp.		1,961,120		4,499,217
Nan Ya Plastics Corp.		2,120,060		4,439,127
Taiwan Cement Corp.		1,141,690		1,676,705
Taiwan Fertilizer Co., Ltd.		182,000		299,339
YFY, Inc.		954,000		391,495
				19,371,173
Real Estate 0.0%
Cathay Real Estate Development Co., Ltd.		805,000		421,391
Retailing 0.2%
Hotai Motor Co., Ltd.		153,000		2,400,242
Semiconductors & Semiconductor Equipment 4.7%
Advanced Semiconductor Engineering, Inc.		2,513,488		3,049,729
Epistar Corp.		210,000		394,927
Inotera Memories, Inc. *		954,000		1,442,675
MediaTek, Inc.		514,469		7,730,126
Novatek Microelectronics Corp.		194,000		1,097,019
Realtek Semiconductor Corp.		161,000		535,843
Siliconware Precision Industries Co., Ltd. ADR		286,677		2,124,277
Taiwan Semiconductor Manufacturing Co., Ltd. ADR		1,671,885		39,239,141
United Microelectronics Corp. ADR		953,739		2,060,076
				57,673,813
Technology Hardware & Equipment 3.4%
Acer, Inc. *		954,086		605,793
Advantech Co., Ltd.		111,592		764,440
Asustek Computer, Inc.		241,426		2,628,987
AU Optronics Corp. ADR		333,900		1,582,686
Catcher Technology Co., Ltd.		244,200		2,067,385
Chicony Electronics Co., Ltd.		149,559		406,911
Compal Electronics, Inc.		1,434,610		917,854
Delta Electronics, Inc.		682,000		4,120,979
Foxconn Technology Co., Ltd.		550,368		1,538,309
Hon Hai Precision Industry Co., Ltd.		4,345,444		13,620,101
HTC Corp. *		256,650		1,136,151
Innolux Corp.		2,805,541		1,341,692
Inventec Corp.		1,460,145		971,936
Largan Precision Co., Ltd.		31,000		2,389,046
Lite-On Technology Corp.		964,869		1,169,160
Pegatron Corp.		503,441		1,168,012
Quanta Computer, Inc.		954,000		2,373,633
Synnex Technology International Corp.		483,053		702,395
TPK Holding Co., Ltd.		91,996		591,557
Unimicron Technology Corp.		954,000		702,842
Wistron Corp.		1,053,315		963,206
				41,763,075
Telecommunication Services 0.6%
Chunghwa Telecom Co., Ltd. ADR (a)		138,330		4,162,349
Far EasTone Telecommunications Co., Ltd.		511,000		1,106,293
Taiwan Mobile Co., Ltd.		588,600		1,871,500
				7,140,142
Transportation 0.2%
China Airlines Ltd. *		1,180,000		497,585
Eva Airways Corp. *		954,000		616,528
Evergreen Marine Corp., Ltd. *		954,199		565,782
U-Ming Marine Transport Corp.		190,000		298,376
				1,978,271
				172,969,026
Thailand 3.0%
Banks 0.8%
Bangkok Bank PCL NVDR		190,800		1,173,796
Bank of Ayudhya PCL NVDR		381,600		546,222
Kasikornbank PCL NVDR		429,300		3,229,393
Krung Thai Bank PCL NVDR		2,014,300		1,466,173
The Siam Commercial Bank PCL NVDR		524,700		3,140,050
TMB Bank PCL NVDR		5,008,500		478,961
				10,034,595
Capital Goods 0.0%
Berli Jucker PCL NVDR		143,100		181,953
Consumer Services 0.1%
Minor International PCL NVDR		667,800		727,085
Energy 0.5%
Banpu PCL NVDR		477,000		395,866
IRPC PCL NVDR		5,771,700		587,101
PTT Exploration & Production PCL NVDR		545,104		2,249,477
PTT PCL NVDR		300,900		3,509,813
				6,742,257
Food & Staples Retailing 0.2%
Big C Supercenter PCL NVDR		95,400		708,927
CP ALL PCL NVDR		1,764,900		2,365,025
				3,073,952
Food, Beverage & Tobacco 0.1%
Charoen Pokphand Foods PCL NVDR		1,478,700		1,272,218
Health Care Equipment & Services 0.1%
Bangkok Dusit Medical Services PCL NVDR		1,131,300		637,401
Materials 0.3%
Indorama Ventures PCL NVDR		322,100		220,717
PTT Global Chemical PCL NVDR		667,814		1,306,747
The Siam Cement PCL NVDR		143,100		2,057,049
				3,584,513

11

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Media 0.1%
BEC World PCL NVDR		524,700		858,920
Real Estate 0.1%
Central Pattana PCL NVDR		573,600		829,785
Land & Houses PCL NVDR		954,000		287,638
				1,117,423
Retailing 0.0%
Home Product Center PCL NVDR		697,612		189,089
Telecommunication Services 0.5%
Advanced Info Service PCL NVDR		429,300		3,111,722
Intouch Holding PCL NVDR		524,700		1,198,493
Total Access Communication PCL NVDR		231,000		696,482
True Corp. PCL NVDR *		3,574,307		1,317,165
				6,323,862
Transportation 0.1%
Airports of Thailand PCL NVDR		168,100		1,423,231
Utilities 0.1%
Electricity Generating PCL NVDR		95,400		495,377
Glow Energy PCL NVDR		201,500		599,867
				1,095,244
				37,261,743
Turkey 2.0%
Banks 0.8%
Akbank T.A.S.		571,961		2,319,214
Turkiye Garanti Bankasi A/S		703,098		3,098,312
Turkiye Halk Bankasi A/S		186,561		1,329,513
Turkiye Is Bankasi, C Shares		575,262		1,598,310
Turkiye Vakiflar Bankasi Tao, D Shares		407,949		938,406
Yapi ve Kredi Bankasi A/S		370,629		889,336
				10,173,091
Capital Goods 0.2%
Enka Insaat ve Sanayi A/S		191,754		499,040
KOC Holding A/S		315,774		1,780,332
				2,279,372
Consumer Durables & Apparel 0.0%
Arcelik A/S		71,073		455,206
Diversified Financials 0.1%
Haci Omer Sabanci Holding A/S		282,907		1,352,584
Energy 0.1%
Tupras-Turkiye Petrol Rafinerileri A/S		56,763		1,282,678
Food & Staples Retailing 0.1%
BIM Birlesik Magazalar A/S		75,046		1,672,127
Food, Beverage & Tobacco 0.2%
Anadolu Efes Biracilik Ve Malt Sanayii A/S *		103,509		1,185,841
Ulker Biskuvi Sanayi A/S		71,073		535,348
				1,721,189
Materials 0.1%
Eregli Demir ve Celik Fabrikalari T.A.S.		667,459		1,357,738
Real Estate 0.1%
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S		812,808		1,033,836
Telecommunication Services 0.2%
Turk Telekomunikasyon A/S		190,323		609,487
Turkcell Iletisim Hizmetleri A/S *		279,999		1,774,383
				2,383,870
Transportation 0.1%
Turk Hava Yollari Anonim Ortakligi *		371,583		1,543,584
				25,255,275
United Arab Emirates 1.1%
Banks 0.3%
Abu Dhabi Commercial Bank PJSC		355,842		712,062
Dubai Islamic Bank PJSC		251,856		517,693
First Gulf Bank PJSC		362,379		1,770,927
Union National Bank PJSC		324,026		555,768
				3,556,450
Capital Goods 0.1%
Arabtec Holding Co. PJSC *		766,621		828,599
Diversified Financials 0.1%
Dubai Financial Market		988,600		705,172
Energy 0.0%
Dana Gas PJSC *		2,902,545		482,039
Real Estate 0.5%
Aldar Properties PJSC		1,199,178		1,041,472
Deyaar Development PJSC *		712,161		193,888
Emaar Malls Group PJSC *		700,236		564,299
Emaar Properties PJSC		1,282,338		3,822,872
				5,622,531
Transportation 0.1%
DP World Ltd.		88,956		1,882,309
				13,077,100
Total Common Stock
(Cost $1,131,433,306)				1,188,456,470
Preferred Stock 3.1% of net assets
Brazil 3.0%
Banks 1.3%
Banco Bradesco S.A.		732,019		11,241,502
Itausa - Investimentos Itau S.A.		1,154,340		4,696,137
				15,937,639
Energy 0.6%
Petroleo Brasileiro S.A.		1,526,400		7,584,449
Food & Staples Retailing 0.2%
Cia Brasileira de Distribuicao		47,700		2,009,064

12 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Materials 0.3%
Bradespar S.A.		95,400		558,464
Braskem S.A., A Shares		95,400		712,894
Gerdau S.A.		304,326		1,287,690
Metalurgica Gerdau S.A.		95,400		481,064
Suzano Papel e Celulose S.A., A Shares		95,400		402,924
Usinas Siderurgicas de Minas Gerais S.A., A Shares *		190,800		385,148
				3,828,184
Retailing 0.1%
Lojas Americanas S.A.		178,875		1,174,886
Telecommunication Services 0.2%
Oi S.A. *		1,348,280		722,279
Telefonica Brasil S.A.		95,400		1,944,626
				2,666,905
Utilities 0.3%
Centrais Eletricas Brasileiras S.A., B Shares		103,810		311,102
Companhia Energetica de Minas Gerais		290,227		1,586,303
Companhia Energetica de Sao Paulo, B Shares		62,777		630,438
Companhia Paranaense de Energia - Copel, B Shares		47,700		653,640
				3,181,483
				36,382,610
Colombia 0.1%
Banks 0.1%
Grupo Aval Acciones y Valores		933,966		593,484
Diversified Financials 0.0%
Grupo de Inversiones Suramericana S.A.		26,712		479,621
				1,073,105
Russia 0.0%
Energy 0.0%
AK Transneft OAO *		250		602,355
Total Preferred Stock
(Cost $45,445,608)				38,058,070
Other Investment Companies 1.4% of net assets
United States 1.4%
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (e)		1,087,810		1,087,810
Securities Lending Collateral 1.3%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (e)		16,182,262		16,182,262
Total Other Investment Companies
(Cost $17,270,072)				17,270,072
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investments 0.0% of net assets
U.S. Treasury Obligations 0.0%
U.S. Treasury Bills
0.00%, 12/18/14 (f)(g)		40,000		40,000
0.01%, 12/18/14 (f)(g)		60,000		60,000
Total Short-Term Investments
(Cost $100,000)				100,000
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $1,199,648,257 and the unrealized appreciation and depreciation were $167,464,686 and ($123,228,331), respectively, with a net unrealized appreciation of $44,236,355.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $15,850,511. Non-Cash Collateral pledged to the fund for securities on loan amounted to $904,429.
(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 $160,753 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 $2,405,154 or 0.2% of net assets.
(e)	The rate shown is the 7-day yield.
(f)	All or a portion of this security is held as collateral for open futures contracts.
(g)	The rate shown is the purchase yield.

ADR —	American Depositary Receipt
GDR —	Global Depositary Receipt
NVDR —	Non-Voting Depositary Receipt
Reg’d —	Registered

In addition to the above, the fund held the following at 11/30/14:

			Contract		Unrealized
	Number of		Value		Appreciation
	Contracts		($)		($)
Futures Contracts
MSCI EAFE, e-mini, Long, expires 12/19/14		15		748,725		7,265

13

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:

•  Securities traded on an exchange or over-the-counter: 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.

•  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.

•  Futures contracts (“futures”): 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 may be valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”).

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 futures. Investments in mutual funds are valued daily at their NAVs, which are classified as Level 1 prices, without consideration to the classification level of the specific investments held by the underlying fund.

14 

 Schwab Emerging Markets Equity ETF

Portfolio Holdings (Unaudited) continued

•  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

•  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$912,917,308		$—		$—		$912,917,308
China1		259,288,087		—		—		259,288,087
Capital Goods		14,006,674		—		2,024,753		16,031,427
Pakistan1		—		—		219,648		219,648
Preferred Stock1		38,058,070		—		—		38,058,070
Other Investment Companies1		17,270,072		—		—		17,270,072
Short-Term Investments1		—		100,000		—		100,000
Total		$1,241,540,211		$100,000		$2,244,401		$1,243,884,612
Other Financial Instruments
Futures Contracts2		$7,265		$—		$—		$7,265

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		November 30,
Investments in Securities	2014		(Losses)		(Depreciation)			Purchases		Sales			in		out		2014
Common Stock
China		$—		$—		$311,407			$40,288		$—			$1,673,058		$—		$2,024,753
Pakistan		239,616		—		(19,968	)		—		—			—		—		219,648
Warrants
Thailand		—		7,413		—			—		(7,413	)		—		—		—
Total		$239,616		$7,413		$291,439			$40,288		($7,413	)		$1,673,058		$—		$2,244,401

15

 Schwab Emerging Markets Equity 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 transfers out of Level 1 to Level 3 due to the result of fair valued securities for which no quoted value was available. There were no transfers between Level 1 and Level 2 for the period ended November 30, 2014.

REG56692NOV14

16 

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

Portfolio Holdings as of November 30, 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		3,251,144,071		4,205,124,872
	0	.0%	Rights		21,491		21,491
	0	.8%	Other Investment Companies		32,240,521		32,240,521
	0	.0%	Short-Term Investments		353,999		353,999
	100	.5%	Total Investments		3,283,760,082		4,237,740,883
	(0	.5)%	Other Assets and Liabilities, Net				(21,836,047	)
	100	.0%	Net Assets				4,215,904,836

	Number		Value
Security	of Shares		($)
Common Stock 99.7% of net assets
Automobiles & Components 1.2%
American Axle & Manufacturing Holdings, Inc. *		12,101		258,235
Autoliv, Inc.		17,290		1,711,018
BorgWarner, Inc.		43,810		2,477,894
Cooper Tire & Rubber Co.		10,698		362,983
Dana Holding Corp.		28,645		607,274
Delphi Automotive plc		52,963		3,863,651
Dorman Products, Inc. *		6,740		319,004
Drew Industries, Inc.		3,542		166,828
Federal-Mogul Holdings Corp. *		15,535		241,103
Ford Motor Co.		724,316		11,393,491
General Motors Co.		248,656		8,312,570
Gentex Corp.		25,875		920,115
Gentherm, Inc. *		6,307		237,711
Harley-Davidson, Inc.		40,634		2,831,377
Johnson Controls, Inc.		126,528		6,326,400
Lear Corp.		14,648		1,404,890
Standard Motor Products, Inc.		4,338		165,495
Tenneco, Inc. *		10,610		576,654
Tesla Motors, Inc. *		17,387		4,251,469
The Goodyear Tire & Rubber Co.		50,996		1,397,800
Thor Industries, Inc.		8,425		495,053
TRW Automotive Holdings Corp. *		22,817		2,359,278
Visteon Corp. *		8,919		874,062
				51,554,355
Banks 5.8%
Associated Banc-Corp.		35,705		659,828
Astoria Financial Corp.		15,194		201,017
BancFirst Corp.		3,385		216,674
BancorpSouth, Inc.		17,120		374,757
Bank of America Corp.		1,958,088		33,365,820
Bank of Hawaii Corp.		8,425		485,533
Bank of the Ozarks, Inc.		13,480		487,976
BankUnited, Inc.		19,060		575,612
Banner Corp.		7,596		312,879
BB&T Corp.		135,478		5,092,618
BBCN Bancorp, Inc.		12,107		168,529
Beneficial Mutual Bancorp, Inc. *		15,336		208,570
Berkshire Hills Bancorp, Inc.		3,676		93,297
BofI Holding, Inc. *		2,571		202,903
BOK Financial Corp.		3,964		255,480
Boston Private Financial Holdings, Inc.		14,009		178,755
Brookline Bancorp, Inc.		15,195		144,504
Capital Bank Financial Corp., Class A *		10,426		264,299
Capitol Federal Financial, Inc.		29,257		366,298
Cathay General Bancorp		13,568		344,356
Central Pacific Financial Corp.		7,284		139,416
Chemical Financial Corp.		5,213		151,021
CIT Group, Inc.		38,755		1,891,244
Citigroup, Inc.		561,789		30,319,752
City Holding Co.		3,370		147,370
City National Corp.		8,425		650,326
Columbia Banking System, Inc.		11,795		324,009
Comerica, Inc.		35,579		1,658,337
Commerce Bancshares, Inc.		17,121		733,091
Community Bank System, Inc.		6,740		249,313
Community Trust Bancorp, Inc.		2,215		80,139
Cullen/Frost Bankers, Inc.		10,610		792,143
CVB Financial Corp.		17,064		258,861
Eagle Bancorp, Inc. *		5,570		191,162
East West Bancorp, Inc.		28,645		1,053,277
Essent Group Ltd. *		8,136		205,027
EverBank Financial Corp.		18,923		356,509
F.N.B. Corp.		36,613		460,958
Fifth Third Bancorp		162,704		3,273,604
First BanCorp (Puerto Rico) *		27,192		139,495
First Citizens BancShares, Inc., Class A		1,547		392,319
First Commonwealth Financial Corp.		22,080		200,486
First Financial Bancorp		10,166		180,040
First Financial Bankshares, Inc.		10,498		316,725
First Horizon National Corp.		45,771		584,038
First Interstate BancSystem, Inc., Class A		7,084		199,202
First Merchants Corp.		8,950		191,977
First Midwest Bancorp, Inc.		16,850		281,900
First Niagara Financial Group, Inc.		64,474		526,753
First Republic Bank		22,535		1,161,229
FirstMerit Corp.		29,424		526,395
Flagstar Bancorp, Inc. *		15,587		237,546
Fulton Financial Corp.		40,760		486,674
Glacier Bancorp, Inc.		12,430		340,333
Hancock Holding Co.		15,165		496,047
Hanmi Financial Corp.		7,596		152,680
Home BancShares, Inc.		13,480		426,912
Home Loan Servicing Solutions Ltd.		15,841		309,533

1

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Hudson City Bancorp, Inc.		89,305		874,296
Huntington Bancshares, Inc.		158,390		1,601,323
Iberiabank Corp.		7,245		473,243
Independent Bank Corp.		3,642		144,332
International Bancshares Corp.		10,266		261,988
Investors Bancorp, Inc.		63,484		686,262
JPMorgan Chase & Co.		697,033		41,933,505
Kearny Financial Corp. *		3,383		47,869
KeyCorp		162,840		2,198,340
Lakeland Financial Corp.		4,134		163,665
M&T Bank Corp.		24,123		3,039,980
MB Financial, Inc.		10,151		319,756
MGIC Investment Corp. *		63,516		591,334
National Bank Holdings Corp., Class A		12,648		243,221
National Penn Bancshares, Inc.		22,483		229,327
Nationstar Mortgage Holdings, Inc. *(a)		5,213		156,234
NBT Bancorp, Inc.		12,067		293,349
New York Community Bancorp, Inc.		81,186		1,290,046
Northfield Bancorp, Inc.		10,401		146,550
Northwest Bancshares, Inc.		25,275		318,212
Ocwen Financial Corp. *		23,590		541,155
OFG Bancorp		17,730		264,886
Old National Bancorp		18,623		264,447
Oritani Financial Corp.		11,795		171,617
PacWest Bancorp		22,631		1,052,341
Park National Corp.		1,959		159,541
People’s United Financial, Inc.		64,030		946,363
Pinnacle Financial Partners, Inc.		5,513		207,675
Popular, Inc. *		18,545		605,309
PrivateBancorp, Inc.		15,165		476,939
Prosperity Bancshares, Inc.		10,431		586,014
Provident Financial Services, Inc.		13,480		232,934
Radian Group, Inc.		40,450		689,672
Regions Financial Corp.		256,850		2,586,479
Renasant Corp.		3,876		109,226
S&T Bancorp, Inc.		5,114		140,533
Sandy Spring Bancorp, Inc.		3,776		89,756
Signature Bank *		9,325		1,130,843
Simmons First National Corp., Class A		4,134		167,303
South State Corp.		4,466		276,579
State Bank Financial Corp.		5,314		98,840
Sterling Bancorp		14,604		195,402
SunTrust Banks, Inc.		98,286		3,861,657
Susquehanna Bancshares, Inc.		33,850		445,804
SVB Financial Group *		9,325		980,524
Synovus Financial Corp.		25,776		666,052
TCF Financial Corp.		33,948		526,873
Texas Capital Bancshares, Inc. *		6,988		385,248
TFS Financial Corp.		23,590		357,860
The PNC Financial Services Group, Inc.		100,069		8,753,035
TrustCo Bank Corp.		16,980		115,634
Trustmark Corp.		13,480		314,623
U.S. Bancorp		333,714		14,750,159
UMB Financial Corp.		6,740		374,003
Umpqua Holdings Corp.		38,113		647,540
Union Bankshares Corp.		8,680		199,987
United Bankshares, Inc.		12,178		425,012
United Community Banks, Inc.		8,745		153,912
United Financial Bancorp, Inc.		10,402		143,340
Valley National Bancorp		43,967		428,239
ViewPoint Financial Group, Inc.		6,884		164,115
Washington Federal, Inc.		20,220		437,561
Webster Financial Corp.		17,189		540,938
Wells Fargo & Co.		880,436		47,966,153
WesBanco, Inc.		3,976		132,043
Westamerica Bancorp		5,055		245,673
Western Alliance Bancorp *		16,964		448,359
Wintrust Financial Corp.		8,425		376,513
WSFS Financial Corp.		2,067		155,232
Zions Bancorp		39,423		1,106,209
				245,194,532
Capital Goods 7.8%
3M Co.		119,951		19,202,956
A.O. Smith Corp.		13,480		726,976
AAON, Inc.		8,161		169,096
AAR Corp.		6,740		172,746
Actuant Corp., Class A		15,165		445,244
Acuity Brands, Inc.		8,425		1,164,335
AECOM Technology Corp. *		26,343		843,239
Aegion Corp. *		6,960		132,588
AGCO Corp.		17,250		727,778
Air Lease Corp.		16,274		618,900
Aircastle Ltd.		15,165		313,916
Albany International Corp., Class A		5,353		200,042
Allegion plc		17,382		936,021
Alliant Techsystems, Inc.		5,455		620,124
Allison Transmission Holdings, Inc.		31,006		1,019,787
Altra Industrial Motion Corp.		3,976		121,785
Ameresco, Inc., Class A *		26,635		205,356
American Railcar Industries, Inc.		2,038		120,201
AMETEK, Inc.		45,495		2,318,425
Apogee Enterprises, Inc.		5,114		231,306
Applied Industrial Technologies, Inc.		8,425		395,048
Armstrong World Industries, Inc. *		8,592		430,459
Astec Industries, Inc.		3,506		137,681
Astronics Corp. *		3,038		148,923
AZZ, Inc.		3,742		167,567
B/E Aerospace, Inc. *		17,884		1,392,627
Barnes Group, Inc.		8,609		316,209
Beacon Roofing Supply, Inc. *		8,425		228,149
Blount International, Inc. *		8,425		138,339
Briggs & Stratton Corp.		8,666		173,753
Builders FirstSource, Inc. *		17,080		105,213
Carlisle Cos., Inc.		11,795		1,054,473
Caterpillar, Inc.		115,791		11,648,575
Chart Industries, Inc. *		5,076		201,568
Chicago Bridge & Iron Co. N.V.		19,139		957,524
CIRCOR International, Inc.		3,370		225,622
CLARCOR, Inc.		10,110		666,148
Colfax Corp. *		17,717		912,957
Comfort Systems USA, Inc.		7,052		101,337
Continental Building Products, Inc. *		13,872		231,662
Crane Co.		10,110		596,793

2 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Cubic Corp.		4,141		213,054
Cummins, Inc.		32,374		4,714,302
Curtiss-Wright Corp.		8,425		597,333
Danaher Corp.		111,630		9,327,803
Deere & Co.		66,207		5,734,850
DigitalGlobe, Inc. *		12,444		336,112
Donaldson Co., Inc.		26,960		1,051,440
Dover Corp.		31,058		2,391,155
DXP Enterprises, Inc. *		1,738		102,125
Dycom Industries, Inc. *		5,536		169,346
Eaton Corp. plc		87,657		5,945,774
EMCOR Group, Inc.		11,795		511,313
Emerson Electric Co.		130,720		8,333,400
Encore Wire Corp.		3,841		140,849
EnerSys		8,619		523,432
EnPro Industries, Inc. *		3,522		227,239
ESCO Technologies, Inc.		6,740		242,775
Esterline Technologies Corp. *		6,740		800,914
Exelis, Inc.		33,700		604,578
Fastenal Co.		49,306		2,228,631
Federal Signal Corp.		11,841		176,668
Flowserve Corp.		27,043		1,592,021
Fluor Corp.		30,691		1,902,535
Fortune Brands Home & Security, Inc.		29,145		1,309,193
Franklin Electric Co., Inc.		6,834		256,685
GATX Corp.		10,110		626,213
GenCorp, Inc. *		10,428		174,148
Generac Holdings, Inc. *		12,089		524,421
General Dynamics Corp.		58,573		8,514,171
General Electric Co.		1,859,071		49,246,791
Global Power Equipment Group, Inc.		13,872		179,920
Graco, Inc.		11,795		944,779
GrafTech International Ltd. *		31,070		126,766
Granite Construction, Inc.		5,696		204,202
Great Lakes Dredge & Dock Corp. *		10,528		79,802
Griffon Corp.		8,490		105,701
H&E Equipment Services, Inc.		6,838		239,330
Harsco Corp.		15,165		293,594
HD Supply Holdings, Inc. *		23,053		670,381
HEICO Corp.		10,952		580,566
Hexcel Corp. *		17,306		749,177
Hillenbrand, Inc.		13,480		433,517
Honeywell International, Inc.		145,734		14,437,867
Hubbell, Inc., Class B		10,110		1,079,748
Huntington Ingalls Industries, Inc.		10,110		1,101,687
Hyster-Yale Materials Handling, Inc.		2,343		172,000
IDEX Corp.		15,165		1,164,824
Illinois Tool Works, Inc.		67,651		6,422,109
Ingersoll-Rand plc		47,857		3,017,862
ITT Corp.		16,850		697,590
Jacobs Engineering Group, Inc. *		23,590		1,095,755
John Bean Technologies Corp.		5,114		155,159
Joy Global, Inc.		20,273		994,188
Kaman Corp.		5,055		198,864
KBR, Inc.		27,054		455,589
Kennametal, Inc.		15,165		558,375
L-3 Communications Holdings, Inc.		16,193		2,017,648
Lennox International, Inc.		10,110		947,004
Lincoln Electric Holdings, Inc.		14,604		1,052,072
Lindsay Corp. (a)		1,906		167,595
Lockheed Martin Corp.		50,090		9,595,240
Masco Corp.		70,770		1,712,634
Masonite International Corp. *		2,763		161,939
MasTec, Inc. *		10,689		257,605
Meritor, Inc. *		19,059		268,351
Moog, Inc., Class A *		10,110		735,806
MRC Global, Inc. *		18,695		377,826
MSC Industrial Direct Co., Inc., Class A		8,425		654,370
Mueller Industries, Inc.		13,650		447,857
Mueller Water Products, Inc., Class A		28,646		271,851
Navistar International Corp. *		14,007		501,451
Nordson Corp.		10,110		790,096
Nortek, Inc. *		2,138		170,463
Northrop Grumman Corp.		38,297		5,397,196
NOW, Inc. *(a)		19,601		524,915
Orbital Sciences Corp. *		10,110		275,194
Oshkosh Corp.		16,850		764,990
Owens Corning		20,495		714,046
PACCAR, Inc.		67,400		4,517,148
Pall Corp.		19,559		1,879,815
Parker-Hannifin Corp.		28,645		3,696,064
Pentair plc		35,919		2,324,318
Plug Power, Inc. *(a)		33,287		127,156
Polypore International, Inc. *		8,478		436,278
Powell Industries, Inc.		1,838		78,207
Precision Castparts Corp.		26,960		6,413,784
Primoris Services Corp.		8,823		230,721
Proto Labs, Inc. *		3,663		237,729
Quanex Building Products Corp.		6,784		134,188
Quanta Services, Inc. *		39,008		1,189,744
Raven Industries, Inc.		6,740		151,650
Raytheon Co.		58,152		6,204,818
RBC Bearings, Inc.		5,055		321,397
Regal-Beloit Corp.		8,425		609,296
Rexnord Corp. *		13,880		382,394
Rockwell Automation, Inc.		26,960		3,111,454
Rockwell Collins, Inc.		25,669		2,195,470
Roper Industries, Inc.		18,535		2,925,194
Rush Enterprises, Inc., Class A *		5,444		190,976
Sensata Technologies Holding N.V. *		31,071		1,540,189
Simpson Manufacturing Co., Inc.		7,274		241,497
Snap-on, Inc.		10,410		1,408,785
SolarCity Corp. *(a)		9,826		540,430
Spirit AeroSystems Holdings, Inc., Class A *		24,341		1,049,341
SPX Corp.		7,674		688,281
Standex International Corp.		1,685		122,954
Stanley Black & Decker, Inc.		28,873		2,726,766
Sun Hydraulics Corp.		3,841		154,677
TAL International Group, Inc. *		5,067		223,911
Taser International, Inc. *		9,315		200,086
Teledyne Technologies, Inc. *		6,787		725,598
Tennant Co.		5,055		340,960
Terex Corp.		21,905		628,674
Textainer Group Holdings Ltd.		6,865		238,902
Textron, Inc.		52,235		2,262,820
The Babcock & Wilcox Co.		21,905		649,045

3

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
The Boeing Co.		124,690		16,753,348
The Gorman-Rupp Co.		2,687		84,103
The Greenbrier Cos., Inc. (a)		3,876		215,040
The Manitowoc Co., Inc.		28,645		576,910
The Middleby Corp. *		10,209		976,389
The Timken Co.		15,165		648,910
The Toro Co.		10,404		683,335
Thermon Group Holdings, Inc. *		3,376		81,665
Titan International, Inc.		10,214		101,119
TransDigm Group, Inc.		8,954		1,771,012
Trex Co., Inc. *		4,076		171,763
TriMas Corp. *		7,359		229,086
Trinity Industries, Inc.		30,330		972,380
Triumph Group, Inc.		8,727		593,960
Tutor Perini Corp. *		7,348		185,537
United Rentals, Inc. *		18,973		2,149,831
United Technologies Corp.		157,029		17,285,752
Universal Forest Products, Inc.		3,442		164,321
USG Corp. *		15,641		450,617
Valmont Industries, Inc. (a)		4,517		610,789
Vectrus, Inc. *		1,853		52,366
W.W. Grainger, Inc.		10,983		2,698,303
Wabash National Corp. *		12,066		130,192
WABCO Holdings, Inc. *		11,795		1,210,403
Wabtec Corp.		17,050		1,508,754
Watsco, Inc.		5,055		513,083
Watts Water Technologies, Inc., Class A		5,149		311,309
WESCO International, Inc. *		8,425		694,136
Woodward, Inc.		10,110		522,485
Xylem, Inc.		33,700		1,292,058
				327,745,893
Commercial & Professional Services 1.0%
ABM Industries, Inc.		7,296		197,649
ACCO Brands Corp. *		21,428		187,709
Brady Corp., Class A		8,425		210,625
Cintas Corp.		21,905		1,602,351
Civeo Corp.		20,220		190,472
Clean Harbors, Inc. *		10,110		472,643
Copart, Inc. *		20,660		750,784
Covanta Holding Corp.		25,275		633,644
Deluxe Corp.		10,110		590,930
Equifax, Inc.		23,590		1,876,584
Exponent, Inc.		1,971		149,914
FTI Consulting, Inc. *		7,212		279,609
G&K Services, Inc., Class A		5,055		329,081
Healthcare Services Group, Inc.		13,480		406,557
Herman Miller, Inc.		10,366		315,023
HNI Corp.		10,110		474,563
Huron Consulting Group, Inc. *		4,770		329,893
ICF International, Inc. *		3,576		138,677
IHS, Inc., Class A *		12,602		1,543,241
Insperity, Inc.		5,064		165,340
Interface, Inc.		10,345		156,416
KAR Auction Services, Inc.		26,253		909,666
Kelly Services, Inc., Class A		5,514		85,136
Kforce, Inc.		6,852		159,926
Kimball International, Inc., Class B		6,752		63,401
Knoll, Inc.		8,602		159,395
Korn/Ferry International *		8,495		230,639
Manpowergroup, Inc.		15,165		1,013,932
Matthews International Corp., Class A		6,740		310,512
McGrath RentCorp		3,772		133,001
Mistras Group, Inc. *		3,576		61,114
Mobile Mini, Inc.		6,740		279,643
MSA Safety, Inc.		5,370		294,974
Navigant Consulting, Inc. *		10,162		142,268
Nielsen N.V.		54,701		2,284,861
On Assignment, Inc. *		9,550		293,472
Performant Financial Corp. *		7,052		47,954
Pitney Bowes, Inc.		38,755		954,148
Quad/Graphics, Inc.		9,270		201,252
R.R. Donnelley & Sons Co.		32,929		554,524
Republic Services, Inc.		52,276		2,070,652
Robert Half International, Inc.		28,645		1,626,750
Rollins, Inc.		13,636		443,579
RPX Corp. *		7,284		95,566
Steelcase, Inc., Class A		13,926		243,984
Stericycle, Inc. *		16,850		2,172,302
Team, Inc. *		5,055		205,284
Tetra Tech, Inc.		10,710		291,098
The ADT Corp.		34,764		1,214,654
The Advisory Board Co. *		6,740		287,124
The Brink’s Co.		10,110		219,387
The Corporate Executive Board Co.		5,445		398,628
The Dun & Bradstreet Corp.		7,334		931,051
Towers Watson & Co., Class A		11,957		1,350,663
TrueBlue, Inc. *		10,110		232,025
Tyco International plc		85,935		3,686,611
UniFirst Corp.		3,370		376,058
United Stationers, Inc.		10,110		415,117
US Ecology, Inc.		4,532		180,464
Verisk Analytics, Inc., Class A *		26,960		1,670,981
Viad Corp.		3,576		85,931
WageWorks, Inc. *		5,545		323,939
Waste Connections, Inc.		22,335		1,054,435
Waste Management, Inc.		80,880		3,941,282
West Corp.		3,845		120,118
				42,819,206
Consumer Durables & Apparel 1.6%
Arctic Cat, Inc.		3,370		111,379
Beazer Homes USA, Inc. *		9,090		181,255
Brunswick Corp.		16,850		837,108
Callaway Golf Co.		10,168		75,345
Carter’s, Inc.		10,724		892,344
Cavco Industries, Inc. *		1,829		135,584
Coach, Inc.		51,320		1,904,998
Columbia Sportswear Co.		6,740		303,637
Crocs, Inc. *		18,586		246,822
D.R. Horton, Inc.		59,532		1,517,471
Deckers Outdoor Corp. *		5,755		556,624
Ethan Allen Interiors, Inc.		3,942		116,723
Fossil Group, Inc. *		10,110		1,129,489
G-III Apparel Group Ltd. *		2,138		189,192
Garmin Ltd.		21,905		1,255,157
GoPro, Inc., Class A *(a)		3,173		247,399
Hanesbrands, Inc.		18,535		2,144,870

4 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Harman International Industries, Inc.		13,480		1,462,984
Hasbro, Inc.		21,905		1,296,776
Helen of Troy Ltd. *		6,854		443,180
Hovnanian Enterprises, Inc., Class A *(a)		17,280		74,304
Iconix Brand Group, Inc. *		10,352		418,324
iRobot Corp. *(a)		3,981		144,988
Jarden Corp. *		31,356		1,384,367
Kate Spade & Co. *		20,461		655,366
KB Home		13,774		242,009
La-Z-Boy, Inc.		10,644		276,638
Leggett & Platt, Inc.		25,616		1,078,177
Lennar Corp., Class A		29,245		1,381,534
Libbey, Inc. *		5,487		164,884
lululemon athletica, Inc. *		19,360		932,958
M.D.C Holdings, Inc.		8,425		221,662
Mattel, Inc.		66,379		2,094,257
Meritage Homes Corp. *		5,364		210,376
Michael Kors Holdings Ltd. *		37,826		2,901,632
Mohawk Industries, Inc. *		11,959		1,836,783
Movado Group, Inc.		3,642		104,635
NACCO Industries, Inc., Class A		1,685		97,797
Newell Rubbermaid, Inc.		53,920		1,957,835
NIKE, Inc., Class B		130,325		12,939,969
NVR, Inc. *		648		815,618
Oxford Industries, Inc.		3,372		223,328
Polaris Industries, Inc.		11,909		1,866,259
PulteGroup, Inc.		64,030		1,384,969
PVH Corp.		15,548		1,976,773
Ralph Lauren Corp.		11,795		2,180,896
Skechers U.S.A., Inc., Class A *		6,984		428,887
Smith & Wesson Holding Corp. *(a)		8,425		83,997
Standard Pacific Corp. *		30,367		229,271
Steven Madden Ltd. *		12,358		421,408
Sturm Ruger & Co., Inc. (a)		3,423		130,382
Taylor Morrison Home Corp., Class A *		5,845		113,042
Tempur Sealy International, Inc. *		11,795		672,905
The Ryland Group, Inc.		7,210		282,127
Toll Brothers, Inc. *		28,645		1,002,289
TRI Pointe Homes, Inc. *		22,782		347,653
Tumi Holdings, Inc. *		11,873		259,900
Tupperware Brands Corp.		9,153		615,539
Under Armour, Inc., Class A *		29,710		2,153,678
Universal Electronics, Inc. *		2,028		122,714
Vera Bradley, Inc. *		4,238		97,432
VF Corp.		65,284		4,907,398
Whirlpool Corp.		13,880		2,584,040
Wolverine World Wide, Inc.		20,220		616,912
				67,684,249
Consumer Services 2.1%
American Public Education, Inc. *		3,372		113,299
Apollo Education Group, Inc. *		18,024		562,709
Aramark		11,250		342,000
Ascent Capital Group, Inc., Class A *		2,071		111,461
Belmond Ltd., Class A *		16,850		190,742
BJ’s Restaurants, Inc. *		4,346		213,649
Bloomin’ Brands, Inc. *		13,832		314,955
Bob Evans Farms, Inc.		5,190		282,128
Boyd Gaming Corp. *		9,172		117,218
Bright Horizons Family Solutions, Inc. *		7,460		333,462
Brinker International, Inc.		13,975		787,212
Buffalo Wild Wings, Inc. *		3,384		575,991
Burger King Worldwide, Inc.		11,178		406,209
Caesars Entertainment Corp. *(a)		10,815		183,422
Capella Education Co.		2,069		141,064
Carnival Corp.		82,654		3,650,001
Chipotle Mexican Grill, Inc. *		5,591		3,710,299
Choice Hotels International, Inc.		7,859		435,467
Churchill Downs, Inc.		2,022		194,698
Cracker Barrel Old Country Store, Inc.		5,055		647,091
Darden Restaurants, Inc.		25,275		1,440,422
Denny’s Corp. *		17,080		165,505
DeVry Education Group, Inc.		10,690		522,313
Diamond Resorts International, Inc. *		9,335		225,720
DineEquity, Inc.		3,905		387,884
Domino’s Pizza, Inc.		10,260		962,901
Dunkin’ Brands Group, Inc.		19,236		930,061
Extended Stay America, Inc.		10,140		188,604
Fiesta Restaurant Group, Inc. *		4,012		224,913
Graham Holdings Co., Class B		712		631,893
Grand Canyon Education, Inc. *		8,629		394,086
H&R Block, Inc.		54,090		1,819,588
Hilton Worldwide Holdings, Inc. *		56,444		1,479,962
Houghton Mifflin Harcourt Co. *		19,903		382,536
Hyatt Hotels Corp., Class A *		10,216		602,029
International Game Technology		49,100		836,173
International Speedway Corp., Class A		5,197		162,562
Interval Leisure Group, Inc.		8,618		187,355
Jack in the Box, Inc.		7,296		543,552
Krispy Kreme Doughnuts, Inc. *		11,966		243,628
Las Vegas Sands Corp.		71,343		4,543,836
Life Time Fitness, Inc. *		6,985		386,829
LifeLock, Inc. *		17,020		281,000
Marriott International, Inc., Class A		41,212		3,247,093
Marriott Vacations Worldwide Corp.		5,257		386,442
McDonald’s Corp.		183,940		17,807,231
MGM Resorts International *		67,858		1,547,841
Multimedia Games Holding Co., Inc. *		7,556		274,207
Norwegian Cruise Line Holdings Ltd. *		17,733		778,301
Panera Bread Co., Class A *		5,169		865,291
Papa John’s International, Inc.		6,996		369,249
Penn National Gaming, Inc. *		11,995		170,329
Pinnacle Entertainment, Inc. *		10,709		266,547
Popeyes Louisiana Kitchen, Inc. *		5,055		279,238
Red Robin Gourmet Burgers, Inc. *		4,278		288,123
Regis Corp. *		10,366		171,454
Royal Caribbean Cruises Ltd.		29,617		2,183,958
SeaWorld Entertainment, Inc.		12,469		208,108
Service Corp. International		39,190		885,694
ServiceMaster Global Holdings, Inc. *		6,519		171,189

5

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Six Flags Entertainment Corp.		20,226		822,187
Sonic Corp.		11,795		320,706
Sotheby’s		11,891		480,515
Starbucks Corp.		140,322		11,395,550
Starwood Hotels & Resorts Worldwide, Inc.		35,785		2,827,015
Texas Roadhouse, Inc.		11,795		389,943
The Cheesecake Factory, Inc.		8,867		429,429
The Wendy’s Co.		69,085		602,421
Vail Resorts, Inc.		6,740		590,694
Wyndham Worldwide Corp.		25,669		2,139,768
Wynn Resorts Ltd.		15,165		2,708,621
Yum! Brands, Inc.		84,297		6,511,943
				89,975,516
Diversified Financials 4.7%
Affiliated Managers Group, Inc. *		10,110		2,058,295
Ally Financial, Inc. *		13,968		332,159
American Express Co.		167,448		15,475,544
Ameriprise Financial, Inc.		35,454		4,671,774
Artisan Partners Asset Management, Inc., Class A		6,018		311,431
Ashford, Inc. *		152		18,050
Berkshire Hathaway, Inc., Class B *		337,756		50,220,940
BGC Partners, Inc., Class A		22,423		195,304
BlackRock, Inc.		23,050		8,276,794
Capital One Financial Corp.		104,494		8,693,901
Cash America International, Inc.		5,198		126,883
CBOE Holdings, Inc.		18,577		1,112,948
CME Group, Inc.		59,055		4,998,415
Cohen & Steers, Inc. (a)		5,055		218,730
Credit Acceptance Corp. *		1,685		252,329
Discover Financial Services		86,509		5,670,665
E*TRADE Financial Corp. *		52,683		1,201,699
Eaton Vance Corp.		21,905		915,410
Encore Capital Group, Inc. *		3,642		156,278
Enova International, Inc. *		4,737		108,904
Evercore Partners, Inc., Class A		7,710		389,355
Federated Investors, Inc., Class B		20,220		635,717
Financial Engines, Inc.		8,425		275,329
First Cash Financial Services, Inc. *		5,070		292,945
FNFV Group *		16,884		240,935
Franklin Resources, Inc.		72,941		4,147,425
GAMCO Investors, Inc., Class A		2,157		185,847
Green Dot Corp., Class A *		6,872		151,253
Greenhill & Co., Inc.		3,964		175,684
HFF, Inc., Class A		8,425		290,494
Interactive Brokers Group, Inc., Class A		7,331		200,283
Intercontinental Exchange, Inc.		20,871		4,716,637
Invesco Ltd.		80,263		3,239,415
Investment Technology Group, Inc. *		7,284		143,859
Janus Capital Group, Inc.		33,700		529,764
KCG Holdings, Inc., Class A *		17,802		196,534
Legg Mason, Inc.		19,528		1,108,214
Leucadia National Corp.		54,417		1,258,665
LPL Financial Holdings, Inc.		14,643		624,817
MarketAxess Holdings, Inc.		5,424		355,652
McGraw Hill Financial, Inc.		52,235		4,881,883
Moody’s Corp.		35,579		3,593,835
Morgan Stanley		283,096		9,959,317
MSCI, Inc.		23,590		1,140,812
Navient Corp.		81,704		1,712,516
Nelnet, Inc., Class A		5,131		235,205
NewStar Financial, Inc. *		8,560		96,214
Northern Trust Corp.		40,440		2,739,001
NorthStar Asset Management Group, Inc.		34,049		713,327
PHH Corp. *		10,298		238,502
PICO Holdings, Inc. *		3,676		67,344
Piper Jaffray Cos. *		5,460		313,404
PRA Group, Inc. *		10,110		591,637
Raymond James Financial, Inc.		22,569		1,270,635
Santander Consumer USA Holdings, Inc.		16,406		304,987
SEI Investments Co.		24,178		958,174
SLM Corp.		81,704		790,895
Springleaf Holdings, Inc. *		5,612		222,516
State Street Corp.		78,318		6,009,340
Stifel Financial Corp. *		10,785		523,396
Synchrony Financial *		22,249		645,443
T. Rowe Price Group, Inc.		47,180		3,938,115
TD Ameritrade Holding Corp.		50,329		1,741,887
The Bank of New York Mellon Corp.		209,532		8,387,566
The Charles Schwab Corp. (b)		216,327		6,126,381
The Goldman Sachs Group, Inc.		76,180		14,353,074
The NASDAQ OMX Group, Inc.		21,993		987,706
Virtus Investment Partners, Inc.		1,097		168,938
Voya Financial, Inc.		25,932		1,086,032
Waddell & Reed Financial, Inc., Class A		15,465		743,557
Walter Investment Management Corp. *(a)		5,113		95,306
WisdomTree Investments, Inc.		20,220		307,142
World Acceptance Corp. *(a)		3,370		257,232
				199,376,596
Energy 7.6%
Alpha Natural Resources, Inc. *(a)		136,837		284,621
Anadarko Petroleum Corp.		93,675		7,414,376
Antero Resources Corp. *		10,773		505,469
Apache Corp.		73,058		4,682,287
Approach Resources, Inc. *(a)		6,924		67,301
Atwood Oceanics, Inc. *		10,110		324,430
Baker Hughes, Inc.		80,880		4,610,160
Bill Barrett Corp. *		8,593		87,047
Bonanza Creek Energy, Inc. *		6,049		164,654
Bristow Group, Inc.		7,012		449,469
C&J Energy Services, Inc. *		7,357		111,459
Cabot Oil & Gas Corp.		80,880		2,672,275
Cameron International Corp. *		39,790		2,040,431
CARBO Ceramics, Inc. (a)		3,517		133,787
Carrizo Oil & Gas, Inc. *		6,740		265,960
Cheniere Energy, Inc. *		42,721		2,819,159
Chesapeake Energy Corp.		96,203		1,949,073
Chevron Corp.		352,669		38,395,074
Cimarex Energy Co.		16,850		1,768,407
Cloud Peak Energy, Inc. *		11,795		137,648

6 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Cobalt International Energy, Inc. *		55,952		503,568
Comstock Resources, Inc.		8,425		74,646
Concho Resources, Inc. *		21,145		2,014,061
ConocoPhillips		227,887		15,056,494
CONSOL Energy, Inc.		41,063		1,606,795
Continental Resources, Inc. *		17,128		701,905
Core Laboratories N.V.		8,445		1,087,969
CVR Energy, Inc. (a)		3,370		156,840
Delek US Holdings, Inc.		10,125		302,738
Denbury Resources, Inc.		72,504		598,883
Devon Energy Corp.		72,943		4,301,449
Diamond Offshore Drilling, Inc. (a)		9,545		280,337
Diamondback Energy, Inc. *		9,103		513,409
Dresser-Rand Group, Inc. *		13,629		1,105,448
Dril-Quip, Inc. *		7,687		613,038
Energen Corp.		13,480		805,026
Ensco plc, Class A		42,250		1,428,050
EOG Resources, Inc.		101,100		8,767,392
EP Energy Corp., Class A *		12,226		130,696
EQT Corp.		28,645		2,606,122
Era Group, Inc. *		3,370		70,939
EXCO Resources, Inc. (a)		31,642		93,027
Exterran Holdings, Inc.		11,823		396,071
Exxon Mobil Corp.		790,505		71,572,323
FMC Technologies, Inc. *		43,998		2,101,784
Forum Energy Technologies, Inc. *		9,169		220,148
Frank’s International N.V.		5,607		100,814
Goodrich Petroleum Corp. *(a)		17,090		103,395
Green Plains, Inc.		6,070		182,161
Gulfmark Offshore, Inc., Class A		5,055		131,683
Gulfport Energy Corp. *		15,771		752,750
Halcon Resources Corp. *(a)		33,736		76,581
Halliburton Co.		160,754		6,783,819
Helix Energy Solutions Group, Inc. *		18,535		423,895
Helmerich & Payne, Inc.		19,735		1,372,569
Hess Corp.		50,651		3,693,977
HollyFrontier Corp.		37,569		1,533,567
Hornbeck Offshore Services, Inc. *		6,740		178,880
Key Energy Services, Inc. *		30,746		57,802
Kinder Morgan, Inc. (a)		303,899		12,566,224
Kodiak Oil & Gas Corp. *		45,531		333,742
Kosmos Energy Ltd. *		17,710		147,701
Laredo Petroleum, Inc. *		12,345		129,005
Magnum Hunter Resources Corp. *(a)		30,544		122,176
Marathon Oil Corp.		125,250		3,622,230
Marathon Petroleum Corp.		54,074		4,871,527
Matador Resources Co. *		9,530		167,633
McDermott International, Inc. *		43,828		155,589
Memorial Resource Development Corp. *		11,038		238,421
Murphy Oil Corp.		30,866		1,494,532
Nabors Industries Ltd.		55,605		729,538
National Oilwell Varco, Inc.		81,168		5,441,503
Newfield Exploration Co. *		24,474		666,427
Newpark Resources, Inc. *		16,880		176,734
Noble Corp. plc		47,423		853,140
Noble Energy, Inc.		67,400		3,314,732
Northern Oil & Gas, Inc. *		10,808		93,922
Oasis Petroleum, Inc. *		18,854		346,537
Occidental Petroleum Corp.		145,841		11,633,737
Oceaneering International, Inc.		20,220		1,267,996
Oil States International, Inc. *		10,110		503,983
ONEOK, Inc.		38,170		2,067,287
Parker Drilling Co. *		20,801		73,844
Parsley Energy, Inc., Class A *		11,038		139,520
Patterson-UTI Energy, Inc.		30,330		536,538
PBF Energy, Inc., Class A		16,942		478,781
PDC Energy, Inc. *		6,740		198,897
Peabody Energy Corp.		34,267		346,439
Penn Virginia Corp. *		16,557		84,937
Phillips 66		105,010		7,667,830
Pioneer Energy Services Corp. *		15,557		93,964
Pioneer Natural Resources Co.		26,082		3,735,725
QEP Resources, Inc.		32,179		657,739
Range Resources Corp.		30,330		1,991,164
Resolute Energy Corp. *(a)		15,239		28,649
Rex Energy Corp. *		13,568		95,247
Rice Energy, Inc. *		12,886		320,861
Rosetta Resources, Inc. *		13,494		396,993
Rowan Cos. plc, Class A		23,590		513,554
RPC, Inc.		11,867		157,712
RSP Permian, Inc. *		7,272		158,239
Sanchez Energy Corp. *(a)		8,752		98,810
SandRidge Energy, Inc. *(a)		64,571		181,445
Schlumberger Ltd.		241,201		20,731,226
SEACOR Holdings, Inc. *		3,370		239,742
SemGroup Corp., Class A		8,425		623,366
Seventy Seven Energy, Inc. *		6,855		53,332
SM Energy Co.		11,795		512,493
Solazyme, Inc. *(a)		10,126		23,290
Southwestern Energy Co. *		64,030		2,060,485
Spectra Energy Corp.		127,305		4,822,313
Stone Energy Corp. *		8,775		138,645
Superior Energy Services, Inc.		28,945		558,928
Synergy Resources Corp. *		16,557		162,424
Targa Resources Corp.		6,740		769,304
Teekay Corp.		6,986		347,344
Tesoro Corp.		26,960		2,065,675
TETRA Technologies, Inc. *		15,208		96,571
The Williams Cos., Inc.		124,743		6,455,450
Tidewater, Inc.		10,110		312,500
Transocean Ltd. (a)		63,624		1,336,740
Triangle Petroleum Corp. *(a)		18,903		91,112
Ultra Petroleum Corp. *(a)		27,773		551,294
Unit Corp. *		8,425		322,004
US Silica Holdings, Inc.		9,730		305,717
Valero Energy Corp.		98,778		4,801,599
W&T Offshore, Inc.		16,850		126,881
Weatherford International plc *		139,855		1,832,100
Western Refining, Inc.		11,795		484,892
Whiting Petroleum Corp. *		22,490		939,407
World Fuel Services Corp.		13,480		610,374
WPX Energy, Inc. *		35,564		482,603
				322,143,153
Food & Staples Retailing 2.1%
Casey’s General Stores, Inc.		6,852		573,649
Costco Wholesale Corp.		80,880		11,494,666
CVS Health Corp.		214,325		19,580,732
PriceSmart, Inc.		3,370		326,755
Rite Aid Corp. *		165,487		906,869

7

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Safeway, Inc.		42,539		1,482,059
SpartanNash Co.		6,784		158,271
Sprouts Farmers Market, Inc. *		15,472		491,855
SUPERVALU, Inc. *		38,874		363,861
Sysco Corp.		109,525		4,409,477
The Andersons, Inc.		5,455		294,788
The Fresh Market, Inc. *		7,040		288,358
The Kroger Co.		90,461		5,413,186
United Natural Foods, Inc. *		9,425		708,666
Wal-Mart Stores, Inc.		292,634		25,617,180
Walgreen Co.		163,758		11,235,436
Weis Markets, Inc.		3,370		155,424
Whole Foods Market, Inc.		68,342		3,350,808
				86,852,040
Food, Beverage & Tobacco 4.7%
Altria Group, Inc.		368,519		18,521,765
Archer-Daniels-Midland Co.		121,481		6,399,619
B&G Foods, Inc.		10,110		289,348
Boulder Brands, Inc. *		8,425		90,990
Brown-Forman Corp., Class B		29,582		2,870,933
Bunge Ltd.		26,960		2,447,159
Cal-Maine Foods, Inc. (a)		4,076		170,703
Campbell Soup Co.		32,603		1,476,264
Chiquita Brands International, Inc. *		11,140		161,084
Coca-Cola Enterprises, Inc.		43,164		1,896,626
ConAgra Foods, Inc.		75,969		2,774,388
Constellation Brands, Inc., Class A *		30,498		2,940,007
Darling Ingredients, Inc. *		31,285		581,901
Dean Foods Co.		17,003		289,901
Dr. Pepper Snapple Group, Inc.		36,236		2,681,464
Flowers Foods, Inc.		31,062		605,709
Fresh Del Monte Produce, Inc.		8,425		284,428
General Mills, Inc.		113,810		6,003,477
Hormel Foods Corp.		26,960		1,431,037
Ingredion, Inc.		15,165		1,262,183
J&J Snack Foods Corp.		2,404		252,540
Kellogg Co.		47,706		3,160,522
Keurig Green Mountain, Inc.		22,370		3,179,672
Kraft Foods Group, Inc.		109,692		6,600,168
Lancaster Colony Corp.		3,382		317,570
Lorillard, Inc.		68,369		4,316,819
McCormick & Co., Inc. Non-Voting Shares		23,990		1,783,177
Mead Johnson Nutrition Co.		37,382		3,881,747
Molson Coors Brewing Co., Class B		28,645		2,215,691
Mondelez International, Inc., Class A		315,151		12,353,919
Monster Beverage Corp. *		26,587		2,981,732
PepsiCo, Inc.		278,925		27,920,392
Philip Morris International, Inc.		290,435		25,247,515
Pilgrim’s Pride Corp. *(a)		15,542		502,007
Pinnacle Foods, Inc.		11,075		376,882
Post Holdings, Inc. *		7,321		292,840
Reynolds American, Inc.		58,088		3,828,580
Sanderson Farms, Inc. (a)		3,484		302,446
Seaboard Corp. *		76		262,199
Snyder’s-Lance, Inc.		10,110		306,131
The Boston Beer Co., Inc., Class A *		1,685		443,104
The Coca-Cola Co.		730,829		32,763,064
The Hain Celestial Group, Inc. *		9,525		1,078,421
The Hershey Co.		28,645		2,872,521
The J.M. Smucker Co.		18,894		1,937,958
The WhiteWave Foods Co. *		32,051		1,174,028
Tootsie Roll Industries, Inc.		5,316		154,908
TreeHouse Foods, Inc. *		6,740		545,603
Tyson Foods, Inc., Class A		52,235		2,211,630
Universal Corp.		5,055		202,149
Vector Group Ltd.		9,745		211,954
				196,856,875
Health Care Equipment & Services 4.8%
Abaxis, Inc.		3,981		228,509
Abbott Laboratories		279,153		12,425,100
ABIOMED, Inc. *		5,520		196,070
Acadia Healthcare Co., Inc. *		8,454		524,233
Aetna, Inc.		66,602		5,810,358
Air Methods Corp. *		5,397		239,519
Alere, Inc. *		15,165		604,932
Align Technology, Inc. *		12,390		704,991
Allscripts Healthcare Solutions, Inc. *		35,385		425,328
AmerisourceBergen Corp.		42,813		3,898,124
Amsurg Corp. *		8,003		412,715
Analogic Corp.		1,889		137,595
athenahealth, Inc. *		6,740		790,602
Baxter International, Inc.		102,785		7,503,305
Becton Dickinson & Co.		35,985		5,049,775
Bio-Reference Laboratories, Inc. *		3,942		111,559
Boston Scientific Corp. *		262,977		3,384,514
Brookdale Senior Living, Inc. *		32,769		1,160,678
C.R. Bard, Inc.		13,841		2,316,291
Cantel Medical Corp.		7,293		317,537
Cardinal Health, Inc.		62,639		5,148,299
Cardiovascular Systems, Inc. *		5,068		155,385
CareFusion Corp. *		42,125		2,492,536
Centene Corp. *		10,110		998,565
Cerner Corp. *		56,287		3,624,883
Chemed Corp.		3,417		376,246
Cigna Corp.		49,710		5,114,662
Community Health Systems, Inc. *		21,922		1,032,088
Computer Programs & Systems, Inc.		1,882		110,549
CONMED Corp.		5,092		216,054
Covidien plc		83,517		8,435,217
Cyberonics, Inc. *		3,764		200,433
DaVita HealthCare Partners, Inc. *		32,964		2,522,735
DENTSPLY International, Inc.		26,960		1,482,261
DexCom, Inc. *		15,165		780,391
Edwards Lifesciences Corp. *		21,905		2,840,640
Endologix, Inc. *		10,231		131,264
Envision Healthcare Holdings, Inc. *		23,800		841,568
ExamWorks Group, Inc. *		4,512		177,547
Express Scripts Holding Co. *		138,174		11,489,168
Globus Medical, Inc., Class A *		10,639		245,123
Greatbatch, Inc. *		3,776		187,176
Haemonetics Corp. *		10,110		373,362

8 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Halyard Health, Inc. *		8,724		342,068
Hanger, Inc. *		5,588		119,863
HCA Holdings, Inc. *		57,641		4,017,001
Health Net, Inc. *		18,535		952,328
HealthSouth Corp.		16,850		693,040
HealthStream, Inc. *		7,232		207,197
HeartWare International, Inc. *		2,215		162,869
Henry Schein, Inc. *		16,850		2,311,820
Hill-Rom Holdings, Inc.		11,795		539,739
HMS Holdings Corp. *		15,339		319,972
Hologic, Inc. *		52,750		1,413,700
Humana, Inc.		28,657		3,953,806
ICU Medical, Inc. *		1,871		156,584
IDEXX Laboratories, Inc. *		10,124		1,512,019
IMS Health Holdings, Inc. *		9,230		230,750
Insulet Corp. *		8,425		392,521
Integra LifeSciences Holdings Corp. *		5,069		249,598
Intuitive Surgical, Inc. *		6,456		3,342,723
IPC The Hospitalist Co., Inc. *		2,171		95,698
Kindred Healthcare, Inc.		16,850		335,146
Laboratory Corp. of America Holdings *		15,689		1,641,697
LifePoint Hospitals, Inc. *		10,110		699,511
Magellan Health, Inc. *		6,740		412,421
Masimo Corp. *		10,110		265,388
McKesson Corp.		43,810		9,233,396
MedAssets, Inc. *		10,136		196,030
Medidata Solutions, Inc. *		10,029		428,339
MEDNAX, Inc. *		17,450		1,142,277
Medtronic, Inc.		181,600		13,414,792
Meridian Bioscience, Inc.		11,795		194,028
Merit Medical Systems, Inc. *		8,425		124,690
Molina Healthcare, Inc. *		5,244		268,073
MWI Veterinary Supply, Inc. *		1,932		315,727
National Healthcare Corp.		1,738		104,715
Natus Medical, Inc. *		5,612		192,099
Neogen Corp. *		7,330		324,792
NuVasive, Inc. *		8,612		378,325
NxStage Medical, Inc. *		10,536		182,062
Omnicare, Inc.		18,167		1,277,503
Omnicell, Inc. *		5,414		174,331
Owens & Minor, Inc.		11,795		403,507
Patterson Cos., Inc.		15,359		739,997
Premier, Inc., Class A *		6,816		231,880
Quality Systems, Inc.		7,284		107,293
Quest Diagnostics, Inc.		28,945		1,890,398
Quidel Corp. *		5,644		157,242
ResMed, Inc. (a)		26,960		1,434,272
Select Medical Holdings Corp.		15,477		223,333
Sirona Dental Systems, Inc. *		10,185		879,882
St. Jude Medical, Inc.		54,731		3,719,519
STERIS Corp.		10,110		644,512
Stryker Corp.		54,975		5,107,727
Team Health Holdings, Inc. *		12,323		704,383
Teleflex, Inc.		8,425		1,003,839
Tenet Healthcare Corp. *		17,908		860,479
The Cooper Cos., Inc.		8,425		1,422,982
The Ensign Group, Inc.		2,238		88,222
The Spectranetics Corp. *		7,524		247,013
Thoratec Corp. *		10,110		315,331
Tornier N.V. *		6,912		184,481
UnitedHealth Group, Inc.		179,810		17,734,660
Universal American Corp. *		15,165		133,452
Universal Health Services, Inc., Class B		16,850		1,762,847
Varian Medical Systems, Inc. *		20,425		1,807,817
VCA, Inc. *		15,165		717,759
Veeva Systems, Inc., Class A *		6,627		217,697
WellCare Health Plans, Inc. *		8,425		621,259
WellPoint, Inc.		52,309		6,690,844
West Pharmaceutical Services, Inc.		13,480		701,095
Wright Medical Group, Inc. *		10,110		296,122
Zimmer Holdings, Inc.		32,162		3,611,471
				202,197,840
Household & Personal Products 1.8%
Avon Products, Inc.		64,223		628,101
Church & Dwight Co., Inc.		26,960		2,068,102
Colgate-Palmolive Co.		161,376		11,230,156
Coty, Inc., Class A *		15,835		320,500
Energizer Holdings, Inc.		11,909		1,548,408
Harbinger Group, Inc. *		10,428		143,072
Herbalife Ltd. (a)		15,421		666,958
Kimberly-Clark Corp.		69,859		8,144,861
Nu Skin Enterprises, Inc., Class A (a)		11,795		493,031
Revlon, Inc., Class A *		5,414		178,446
Spectrum Brands Holdings, Inc.		3,812		350,590
The Clorox Co.		23,737		2,412,154
The Estee Lauder Cos., Inc., Class A		41,858		3,103,352
The Procter & Gamble Co.		500,735		45,281,466
WD-40 Co.		2,113		160,799
				76,729,996
Insurance 3.1%
ACE Ltd.		62,545		7,151,395
Aflac, Inc.		85,278		5,093,655
Alleghany Corp. *		2,824		1,289,269
Allied World Assurance Co. Holdings AG		20,220		762,294
Ambac Financial Group, Inc. *		8,530		209,497
American Equity Investment Life Holding Co.		10,709		289,143
American Financial Group, Inc.		14,026		847,030
American International Group, Inc.		264,100		14,472,680
American National Insurance Co.		1,812		207,981
AMERISAFE, Inc.		3,376		140,746
AmTrust Financial Services, Inc. (a)		5,588		286,776
Aon plc		54,707		5,059,850
Arch Capital Group Ltd. *		24,608		1,410,531
Argo Group International Holdings Ltd.		5,070		286,151
Arthur J. Gallagher & Co.		28,142		1,349,409
Aspen Insurance Holdings Ltd.		13,480		596,220
Assurant, Inc.		14,082		951,802
Assured Guaranty Ltd.		30,905		789,932
Axis Capital Holdings Ltd.		19,304		966,165
Brown & Brown, Inc.		21,905		705,341
Cincinnati Financial Corp.		28,645		1,459,463
CNA Financial Corp.		6,756		261,592

9

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
CNO Financial Group, Inc.		42,533		737,522
eHealth, Inc. *		2,771		71,686
Employers Holdings, Inc.		6,740		136,687
Endurance Specialty Holdings Ltd.		7,612		448,956
Enstar Group Ltd. *		1,685		245,926
Erie Indemnity Co., Class A		5,069		442,169
Everest Re Group Ltd.		8,188		1,436,093
FBL Financial Group, Inc., Class A		3,642		187,235
First American Financial Corp.		20,220		647,242
FNF Group		50,659		1,641,352
Genworth Financial, Inc., Class A *		89,305		811,783
Greenlight Capital Re Ltd., Class A *		5,055		159,334
HCC Insurance Holdings, Inc.		20,220		1,073,075
Hilltop Holdings, Inc. *		12,655		257,909
Horace Mann Educators Corp.		7,345		229,899
Infinity Property & Casualty Corp.		1,685		122,432
Kemper Corp.		10,110		356,479
Lincoln National Corp.		48,249		2,732,341
Loews Corp.		57,525		2,395,341
Maiden Holdings Ltd.		8,790		114,797
Markel Corp. *		2,445		1,703,627
Marsh & McLennan Cos., Inc.		100,046		5,661,603
MBIA, Inc. *		27,472		283,511
Meadowbrook Insurance Group, Inc.		8,555		52,100
Mercury General Corp.		6,740		371,778
MetLife, Inc.		208,953		11,619,876
Montpelier Re Holdings Ltd.		7,105		241,925
National General Holdings Corp.		9,069		170,044
National Interstate Corp.		2,671		76,471
National Western Life Insurance Co., Class A		300		77,055
Old Republic International Corp.		43,954		665,024
OneBeacon Insurance Group Ltd., Class A		4,303		68,504
PartnerRe Ltd.		9,059		1,055,464
Platinum Underwriters Holdings Ltd.		5,449		404,152
Primerica, Inc.		8,425		441,723
Principal Financial Group, Inc.		52,277		2,784,796
ProAssurance Corp.		10,982		495,178
Protective Life Corp.		15,165		1,057,152
Prudential Financial, Inc.		84,456		7,177,071
Reinsurance Group of America, Inc.		13,480		1,155,506
RenaissanceRe Holdings Ltd.		8,461		828,501
RLI Corp.		6,740		309,568
Safety Insurance Group, Inc.		3,370		200,582
Selective Insurance Group, Inc.		10,110		270,645
StanCorp Financial Group, Inc.		8,425		556,893
State Auto Financial Corp.		2,371		46,661
Stewart Information Services Corp.		4,142		147,000
Symetra Financial Corp.		19,008		430,721
The Allstate Corp.		80,769		5,504,407
The Chubb Corp.		44,096		4,544,093
The Hanover Insurance Group, Inc.		7,668		546,575
The Hartford Financial Services Group, Inc.		80,969		3,344,020
The Navigators Group, Inc. *		1,691		123,528
The Progressive Corp.		99,462		2,709,345
The Travelers Cos., Inc.		62,692		6,548,179
Torchmark Corp.		25,491		1,370,141
United Fire Group, Inc.		3,576		99,663
Unum Group		49,253		1,636,185
Validus Holdings Ltd.		17,089		709,194
W.R. Berkley Corp.		20,364		1,063,815
White Mountains Insurance Group Ltd.		912		577,998
Willis Group Holdings plc		31,282		1,336,054
XL Group plc		49,153		1,745,915
				129,047,423
Materials 3.6%
A. Schulman, Inc.		5,208		199,258
Air Products & Chemicals, Inc.		35,462		5,100,499
Airgas, Inc.		12,209		1,411,727
AK Steel Holding Corp. *		26,140		154,749
Albemarle Corp.		14,604		862,220
Alcoa, Inc.		216,735		3,747,348
Allegheny Technologies, Inc.		19,035		641,289
AptarGroup, Inc.		11,795		769,624
Ashland, Inc.		13,480		1,537,394
Avery Dennison Corp.		17,474		865,138
Axiall Corp.		13,495		584,064
Balchem Corp.		6,740		438,100
Ball Corp.		25,641		1,719,742
Bemis Co., Inc.		20,220		807,587
Berry Plastics Group, Inc. *		22,382		647,735
Boise Cascade Co. *		6,872		245,262
Cabot Corp.		11,795		508,129
Calgon Carbon Corp. *		10,180		207,774
Carpenter Technology Corp.		8,425		424,788
Celanese Corp., Series A		30,330		1,821,923
Century Aluminum Co. *		9,865		272,767
CF Industries Holdings, Inc.		9,378		2,514,711
Chemtura Corp. *		20,220		471,126
Clearwater Paper Corp. *		5,055		334,944
Cliffs Natural Resources, Inc. (a)		28,950		264,024
Commercial Metals Co.		21,905		357,928
Compass Minerals International, Inc.		6,740		586,717
Crown Holdings, Inc. *		27,254		1,349,073
Cytec Industries, Inc.		16,850		810,485
Deltic Timber Corp.		1,913		119,084
Domtar Corp.		13,480		548,636
E.I. du Pont de Nemours & Co.		170,563		12,178,198
Eagle Materials, Inc.		9,007		742,087
Eastman Chemical Co.		28,645		2,375,243
Ecolab, Inc.		51,333		5,592,730
Ferro Corp. *		15,442		198,738
Flotek Industries, Inc. *		7,252		141,269
FMC Corp.		25,322		1,377,517
Freeport-McMoRan, Inc.		192,393		5,165,752
Globe Specialty Metals, Inc.		8,888		154,029
Graphic Packaging Holding Co. *		60,779		756,698
Greif, Inc., Class A		6,740		295,549
H.B. Fuller Co.		8,667		374,328
Haynes International, Inc.		3,370		151,279
Headwaters, Inc. *		16,157		226,198
Hecla Mining Co.		46,119		108,841
Horsehead Holding Corp. *		7,364		115,026
Huntsman Corp.		37,858		966,136

10 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Innophos Holdings, Inc.		5,055		273,374
Innospec, Inc.		2,571		110,193
International Flavors & Fragrances, Inc.		15,165		1,534,243
International Paper Co.		82,588		4,444,886
Intrepid Potash, Inc. *		7,284		103,943
Kaiser Aluminum Corp.		3,370		245,269
KapStone Paper & Packaging Corp. *		16,890		504,504
Koppers Holdings, Inc.		5,055		147,505
Kraton Performance Polymers, Inc. *		5,353		98,495
Kronos Worldwide, Inc.		8,560		111,366
Louisiana-Pacific Corp. *		25,275		385,191
LSB Industries, Inc. *		3,372		111,512
LyondellBasell Industries N.V., Class A		77,154		6,084,364
Martin Marietta Materials, Inc.		10,828		1,299,793
Materion Corp.		3,476		120,860
McEwen Mining, Inc. *(a)		105,758		141,716
MeadWestvaco Corp.		32,015		1,434,272
Minerals Technologies, Inc.		6,768		502,389
Monsanto Co.		90,103		10,804,251
Myers Industries, Inc.		6,740		109,660
Neenah Paper, Inc.		2,138		122,379
NewMarket Corp.		1,811		713,027
Newmont Mining Corp.		83,557		1,537,449
Nucor Corp.		57,796		3,099,599
Olin Corp.		16,850		423,946
OM Group, Inc.		5,055		137,546
Owens-Illinois, Inc. *		32,015		820,865
P.H. Glatfelter Co.		7,184		181,899
Packaging Corp. of America		18,535		1,376,780
Platform Specialty Products Corp. *		17,292		432,473
PolyOne Corp.		16,850		628,505
PPG Industries, Inc.		25,947		5,677,722
Praxair, Inc.		54,032		6,936,628
Quaker Chemical Corp.		3,370		274,419
Rayonier Advanced Materials, Inc. (a)		7,706		189,953
Reliance Steel & Aluminum Co.		13,527		864,916
Rentech, Inc. *		67,840		87,514
Resolute Forest Products, Inc. *		17,456		292,388
Rock-Tenn Co., Class A		27,242		1,547,618
Rockwood Holdings, Inc.		13,780		1,074,151
Royal Gold, Inc.		11,810		752,061
RPM International, Inc.		25,275		1,205,617
RTI International Metals, Inc. *		5,213		119,534
Schnitzer Steel Industries, Inc., Class A		4,512		102,874
Schweitzer-Mauduit International, Inc.		6,740		288,270
Sealed Air Corp.		35,654		1,409,403
Sensient Technologies Corp.		10,110		595,984
Sigma-Aldrich Corp.		22,058		3,013,123
Silgan Holdings, Inc.		8,526		430,222
Sonoco Products Co.		18,535		778,841
Steel Dynamics, Inc.		40,440		911,518
Stepan Co.		3,370		139,518
Stillwater Mining Co. *		20,602		270,504
SunCoke Energy, Inc.		10,616		215,823
The Dow Chemical Co.		208,573		10,151,248
The Mosaic Co.		61,229		2,802,451
The Scotts Miracle-Gro Co., Class A		8,425		514,178
The Sherwin-Williams Co.		15,712		3,847,240
The Valspar Corp.		14,004		1,175,076
TimkenSteel Corp.		7,469		266,046
Tredegar Corp.		3,882		71,196
Tronox Ltd., Class A		15,354		346,233
United States Steel Corp.		26,205		873,937
Vulcan Materials Co.		23,696		1,566,306
W.R. Grace & Co. *		14,151		1,359,486
Walter Energy, Inc. (a)		99,431		316,191
Westlake Chemical Corp.		7,034		447,362
Worthington Industries, Inc.		11,827		445,996
				150,647,264
Media 3.5%
AMC Networks, Inc., Class A *		11,795		765,024
Cablevision Systems Corp., Class A		39,419		800,994
Carmike Cinemas, Inc. *		4,142		122,769
CBS Corp., Class B Non-Voting Shares		89,779		4,927,071
Charter Communications, Inc., Class A *		14,854		2,520,724
Cinemark Holdings, Inc.		20,220		734,188
Clear Channel Outdoor Holdings, Inc., Class A		13,900		107,864
Comcast Corp., Class A		483,864		27,599,603
DIRECTV *		92,877		8,146,242
Discovery Communications, Inc., Class A *		27,390		955,911
Discovery Communications, Inc., Class C *		50,582		1,720,294
DISH Network Corp., Class A *		39,287		3,119,781
DreamWorks Animation SKG, Inc., Class A *		12,440		296,570
Gannett Co., Inc.		42,467		1,382,301
Gray Television, Inc. *		10,136		105,313
John Wiley & Sons, Inc., Class A		8,825		527,029
Lamar Advertising Co., Class A		11,795		628,556
Liberty Broadband Corp., Class A *		4,694		257,419
Liberty Broadband Corp., Class C *		9,446		513,862
Liberty Global plc, Class A *		56,473		2,936,031
Liberty Global plc, Series C *		82,139		4,100,379
Liberty Media Corp., Class A *		18,949		696,755
Liberty Media Corp., Class C *		37,898		1,384,414
Lions Gate Entertainment Corp.		14,884		504,568
Live Nation Entertainment, Inc. *		25,366		679,809
Loral Space & Communications, Inc. *		3,370		264,511
Meredith Corp.		8,425		444,671
Morningstar, Inc.		3,684		245,870
National CineMedia, Inc.		11,823		167,414
News Corp., Class A *		91,710		1,423,339
Nexstar Broadcasting Group, Inc., Class A		4,230		217,041
Omnicom Group, Inc.		47,388		3,661,671
Regal Entertainment Group, Class A		15,165		350,160

11

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Rentrak Corp. *		2,071		174,171
Scholastic Corp.		3,772		133,906
Scripps Networks Interactive, Inc., Class A		19,421		1,518,140
Sinclair Broadcast Group, Inc., Class A (a)		12,946		377,505
Sirius XM Holdings, Inc. *		525,538		1,907,703
Starz, Class A *		20,367		671,907
The E.W. Scripps Co., Class A *		5,713		111,860
The Interpublic Group of Cos., Inc.		80,915		1,641,765
The Madison Square Garden Co., Class A *		10,563		771,521
The New York Times Co., Class A		30,330		384,888
The Walt Disney Co.		292,551		27,063,893
Time Warner Cable, Inc.		51,263		7,652,541
Time Warner, Inc.		158,519		13,493,137
Time, Inc.		20,613		493,475
Twenty-First Century Fox, Inc., Class A		355,718		13,090,422
Viacom, Inc., Class B		72,546		5,486,654
				147,281,636
Pharmaceuticals, Biotechnology & Life Sciences 9.1%
AbbVie, Inc.		297,269		20,571,015
ACADIA Pharmaceuticals, Inc. *		17,600		525,712
Achillion Pharmaceuticals, Inc. *		22,470		289,189
Acorda Therapeutics, Inc. *		6,981		254,457
Actavis plc *		49,095		13,285,598
Aegerion Pharmaceuticals, Inc. *		4,124		86,893
Affymetrix, Inc. *		13,904		126,944
Agilent Technologies, Inc.		64,030		2,736,642
Akorn, Inc. *		11,886		476,272
Alexion Pharmaceuticals, Inc. *		37,361		7,281,659
Alkermes plc *		27,028		1,487,081
Allergan, Inc.		55,617		11,895,920
Alnylam Pharmaceuticals, Inc. *		12,149		1,221,582
Amgen, Inc.		140,706		23,260,109
Anacor Pharmaceuticals, Inc. *		7,692		265,220
ARIAD Pharmaceuticals, Inc. *(a)		34,380		244,442
Auxilium Pharmaceuticals, Inc. *(a)		8,425		291,168
Avanir Pharmaceuticals, Inc. *		27,788		414,597
Bio-Rad Laboratories, Inc., Class A *		3,370		400,322
Bio-Techne Corp.		6,740		617,451
BioCryst Pharmaceuticals, Inc. *		12,211		132,001
Biogen Idec, Inc. *		43,883		13,502,360
BioMarin Pharmaceutical, Inc. *		27,381		2,456,623
Bristol-Myers Squibb Co.		307,991		18,186,869
Bruker Corp. *		20,683		396,700
Cambrex Corp. *		5,454		124,079
Catalent, Inc. *		7,692		221,453
Celgene Corp. *		148,490		16,881,828
Celldex Therapeutics, Inc. *		27,036		548,290
Cepheid, Inc. *		13,480		742,478
Charles River Laboratories International, Inc. *		8,719		564,555
Chimerix, Inc. *		5,719		201,538
Clovis Oncology, Inc. *		5,213		248,035
Covance, Inc. *		11,795		1,210,403
Cubist Pharmaceuticals, Inc. *		14,158		1,073,318
Depomed, Inc. *		10,678		165,402
Dyax Corp. *		22,797		320,070
Eli Lilly & Co.		183,685		12,512,622
Emergent Biosolutions, Inc. *		8,520		211,807
Endo International plc *		28,080		2,054,614
Epizyme, Inc. *		7,036		160,843
Exact Sciences Corp. *(a)		15,968		396,326
Fluidigm Corp. *		5,754		177,396
Genomic Health, Inc. *		3,768		125,324
Gilead Sciences, Inc. *		280,125		28,102,140
Halozyme Therapeutics, Inc. *		16,850		147,943
Hospira, Inc. *		30,330		1,808,881
Illumina, Inc. *		25,680		4,902,055
ImmunoGen, Inc. *		15,165		156,048
Impax Laboratories, Inc. *		15,169		484,650
Incyte Corp. *		27,494		2,077,172
Intercept Pharmaceuticals, Inc. *		2,286		328,567
Intra-Cellular Therapies, Inc. *(a)		13,263		190,589
Intrexon Corp. *(a)		5,584		148,144
Ironwood Pharmaceuticals, Inc. *		23,148		320,368
Isis Pharmaceuticals, Inc. *		22,000		1,139,380
Jazz Pharmaceuticals plc *		11,033		1,953,834
Johnson & Johnson		521,776		56,482,252
Keryx Biopharmaceuticals, Inc. *(a)		18,024		286,582
KYTHERA Biopharmaceuticals, Inc. *		2,218		84,839
Lannett Co., Inc. *		4,746		233,171
Lexicon Pharmaceuticals, Inc. *(a)		160,355		163,562
Ligand Pharmaceuticals, Inc. *		4,298		231,447
Luminex Corp. *		8,425		155,862
Mallinckrodt plc *		21,279		1,962,349
MannKind Corp. *(a)		66,229		407,308
Medivation, Inc. *		13,480		1,562,197
Merck & Co., Inc.		534,708		32,296,363
Mettler-Toledo International, Inc. *		5,302		1,554,865
MiMedx Group, Inc. *(a)		14,444		159,751
Momenta Pharmaceuticals, Inc. *		8,711		102,180
Mylan, Inc. *		69,110		4,050,537
Myriad Genetics, Inc. *(a)		16,850		564,980
Nektar Therapeutics *		25,275		421,334
Neurocrine Biosciences, Inc. *		13,568		270,410
Novavax, Inc. *		66,302		354,053
NPS Pharmaceuticals, Inc. *		20,335		674,715
OPKO Health, Inc. *(a)		40,498		339,373
Orexigen Therapeutics, Inc. *(a)		17,080		98,893
Pacira Pharmaceuticals, Inc. *		6,114		574,288
PAREXEL International Corp. *		11,795		690,125
PDL BioPharma, Inc. (a)		33,700		278,362
PerkinElmer, Inc.		23,590		1,072,637
Perrigo Co., plc		24,629		3,945,320
Pfizer, Inc.		1,177,464		36,678,004
Pharmacyclics, Inc. *		12,081		1,683,971
Portola Pharmaceuticals, Inc. *		7,192		202,239
Prestige Brands Holdings, Inc. *		8,718		291,617
PTC Therapeutics, Inc. *		4,355		194,886
Puma Biotechnology, Inc. *		4,263		967,786
Quintiles Transnational Holdings, Inc. *		12,290		710,608
Raptor Pharmaceutical Corp. *(a)		28,420		273,400
Receptos, Inc. *		3,891		526,452
Regeneron Pharmaceuticals, Inc. *		13,653		5,681,150
Salix Pharmaceuticals Ltd. *		11,310		1,161,424
Sangamo BioSciences, Inc. *		35,761		431,993

12 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Sarepta Therapeutics, Inc. *(a)		15,521		262,926
Seattle Genetics, Inc. *		20,939		763,017
Synageva BioPharma Corp. *		4,322		350,946
TESARO, Inc. *		3,656		126,169
The Medicines Co. *		10,152		272,175
TherapeuticsMD, Inc. *		18,180		69,811
Theravance Biopharma, Inc. *(a)		3,811		60,290
Theravance, Inc. (a)		13,605		205,844
Thermo Fisher Scientific, Inc.		74,295		9,605,601
Ultragenyx Pharmaceutical, Inc. *		5,070		221,001
United Therapeutics Corp. *		8,637		1,145,007
Vertex Pharmaceuticals, Inc. *		44,032		5,190,492
Waters Corp. *		16,850		1,952,915
ZIOPHARM Oncology, Inc. *(a)		131,967		555,581
Zoetis, Inc.		91,379		4,105,658
				382,815,696
Real Estate 3.9%
Acadia Realty Trust		8,478		270,957
Alexander & Baldwin, Inc.		8,425		320,824
Alexander’s, Inc.		699		281,075
Alexandria Real Estate Equities, Inc.		13,944		1,198,068
Altisource Portfolio Solutions S.A. *(a)		3,698		193,331
Altisource Residential Corp.		10,324		209,371
American Assets Trust, Inc.		5,515		216,740
American Campus Communities, Inc.		18,817		752,680
American Capital Agency Corp.		71,286		1,644,924
American Capital Mortgage Investment Corp.		11,945		239,736
American Homes 4 Rent, Class A		25,563		439,684
American Realty Capital Properties, Inc.		165,934		1,559,780
American Tower Corp.		73,082		7,674,341
Annaly Capital Management, Inc.		170,321		1,962,098
Anworth Mortgage Asset Corp.		27,696		149,558
Apartment Investment & Management Co., Class A		26,966		1,004,484
Apollo Commercial Real Estate Finance, Inc.		7,024		117,160
Apollo Residential Mortgage, Inc.		5,954		98,360
ARMOUR Residential REIT, Inc.		70,129		275,607
Ashford Hospitality Trust, Inc.		13,480		141,270
Associated Estates Realty Corp.		7,345		164,675
AvalonBay Communities, Inc.		24,237		3,897,067
Aviv REIT, Inc.		8,855		298,414
BioMed Realty Trust, Inc.		34,419		738,288
Blackstone Mortgage Trust, Inc., Class A		9,136		260,924
Boston Properties, Inc.		28,645		3,713,538
Brandywine Realty Trust		28,645		442,852
Brixmor Property Group, Inc.		15,406		372,517
Camden Property Trust		15,165		1,162,852
Capstead Mortgage Corp.		20,220		263,062
CareTrust REIT, Inc. *		2,238		36,188
CBL & Associates Properties, Inc.		32,015		622,692
CBRE Group, Inc., Class A *		55,822		1,883,434
Chambers Street Properties		54,272		434,719
Chesapeake Lodging Trust		12,651		428,363
Chimera Investment Corp.		182,070		615,397
Colony Financial, Inc.		24,058		590,624
Columbia Property Trust, Inc.		22,534		567,857
CoreSite Realty Corp.		3,370		128,262
Corporate Office Properties Trust		14,016		393,990
Corrections Corp. of America		22,293		808,121
Cousins Properties, Inc.		44,320		542,477
Crown Castle International Corp.		63,078		5,241,151
CubeSmart		27,412		590,454
CyrusOne, Inc.		6,856		188,197
CYS Investments, Inc.		31,642		292,056
DCT Industrial Trust, Inc.		14,318		488,690
DDR Corp.		57,421		1,052,527
DiamondRock Hospitality Co.		35,423		528,865
Digital Realty Trust, Inc.		25,794		1,812,544
Douglas Emmett, Inc.		23,590		656,746
Duke Realty Corp.		68,547		1,332,554
DuPont Fabros Technology, Inc.		11,795		384,399
EastGroup Properties, Inc.		6,740		453,063
Education Realty Trust, Inc.		20,220		235,361
Empire State Realty Trust, Inc., Class A		15,262		255,791
EPR Properties		9,137		511,581
Equity Commonwealth		22,624		575,328
Equity LifeStyle Properties, Inc.		16,850		835,929
Equity One, Inc.		15,893		385,087
Equity Residential		66,871		4,737,142
Essex Property Trust, Inc.		11,992		2,427,301
Excel Trust, Inc.		17,730		232,440
Extra Space Storage, Inc.		20,504		1,215,272
Federal Realty Investment Trust		13,195		1,750,449
FelCor Lodging Trust, Inc.		23,590		245,808
First Industrial Realty Trust, Inc.		16,850		334,473
First Potomac Realty Trust		8,755		108,387
Forest City Enterprises, Inc., Class A *		29,591		638,870
Forestar Group, Inc. *		5,514		88,224
Franklin Street Properties Corp.		15,165		182,283
Gaming & Leisure Properties, Inc.		17,717		565,172
General Growth Properties, Inc.		121,936		3,263,007
Getty Realty Corp.		3,976		72,045
Glimcher Realty Trust		25,275		347,784
Government Properties Income Trust		14,046		319,125
Hatteras Financial Corp.		17,450		334,342
HCP, Inc.		86,748		3,886,310
Health Care REIT, Inc.		59,903		4,412,455
Healthcare Realty Trust, Inc.		15,471		408,589
Healthcare Trust of America, Inc., Class A		44,039		561,938
Hersha Hospitality Trust		48,042		355,991
Highwoods Properties, Inc.		18,771		810,156
Home Properties, Inc.		10,110		659,071
Hospitality Properties Trust		28,026		857,596
Host Hotels & Resorts, Inc.		137,565		3,197,011
Hudson Pacific Properties, Inc.		17,204		483,776
Inland Real Estate Corp.		13,768		148,557
Invesco Mortgage Capital, Inc.		27,144		448,690
Investors Real Estate Trust		15,439		125,982
Iron Mountain, Inc.		38,053		1,446,395
iStar Financial, Inc. *		13,504		192,972
Jones Lang LaSalle, Inc.		8,425		1,227,186

13

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Kennedy-Wilson Holdings, Inc.		12,663		329,111
Kilroy Realty Corp.		16,051		1,102,383
Kimco Realty Corp.		75,825		1,929,746
Kite Realty Group Trust		15,479		422,267
LaSalle Hotel Properties		19,307		779,424
Lexington Realty Trust		33,714		370,854
Liberty Property Trust		27,208		962,619
LTC Properties, Inc.		5,249		219,356
Mack-Cali Realty Corp.		15,485		297,622
Medical Properties Trust, Inc.		29,803		413,070
MFA Financial, Inc.		65,715		550,692
Mid-America Apartment Communities, Inc.		15,038		1,107,699
National Health Investors, Inc.		5,280		349,958
National Retail Properties, Inc.		22,574		869,776
New Residential Investment Corp.		29,068		376,721
New Senior Investment Group, Inc. *(a)		11,113		196,033
New York Mortgage Trust, Inc. (a)		15,204		122,240
New York REIT, Inc.		27,936		300,312
Newcastle Investment Corp.		11,114		54,567
NorthStar Realty Finance Corp.		41,341		755,300
Omega Healthcare Investors, Inc.		22,689		867,174
Outfront Media, Inc.		22,399		606,117
Parkway Properties, Inc.		12,698		247,357
Pebblebrook Hotel Trust		14,598		630,196
Pennsylvania Real Estate Investment Trust		11,795		275,649
PennyMac Mortgage Investment Trust		16,609		359,917
Piedmont Office Realty Trust, Inc., Class A		33,700		633,560
Plum Creek Timber Co., Inc.		32,899		1,371,230
Post Properties, Inc.		10,110		592,244
Potlatch Corp.		8,425		350,059
Prologis, Inc.		92,849		3,925,656
PS Business Parks, Inc.		3,648		296,911
Public Storage		26,960		5,058,505
RAIT Financial Trust		19,598		144,829
Ramco-Gershenson Properties Trust		12,637		226,202
Rayonier, Inc.		23,590		643,535
Realogy Holdings Corp. *		27,847		1,281,519
Realty Income Corp.		44,464		2,065,797
Redwood Trust, Inc.		18,535		362,359
Regency Centers Corp.		16,850		1,035,938
Resource Capital Corp.		15,542		81,906
Retail Opportunity Investments Corp.		15,939		262,356
Retail Properties of America, Inc., Class A		44,290		711,740
RLJ Lodging Trust		26,328		866,981
Rouse Properties, Inc. (a)		6,948		127,079
Ryman Hospitality Properties, Inc. (a)		9,174		477,782
Sabra Health Care REIT, Inc.		12,985		367,605
Saul Centers, Inc.		2,040		111,649
Select Income REIT		9,234		213,305
Senior Housing Properties Trust		37,497		844,807
Silver Bay Realty Trust Corp.		7,825		130,130
Simon Property Group, Inc.		58,070		10,499,056
SL Green Realty Corp.		17,550		2,038,257
Sovran Self Storage, Inc.		7,339		623,962
Spirit Realty Capital, Inc.		76,105		891,190
STAG Industrial, Inc.		10,152		242,024
Starwood Property Trust, Inc.		44,189		1,063,187
Starwood Waypoint Residential Trust		7,441		189,671
Strategic Hotels & Resorts, Inc. *		44,676		593,297
Summit Hotel Properties, Inc.		17,730		205,668
Sun Communities, Inc.		8,619		507,573
Sunstone Hotel Investors, Inc.		34,625		554,346
Tanger Factory Outlet Centers, Inc.		17,055		623,872
Taubman Centers, Inc.		11,795		937,585
The Geo Group, Inc.		15,237		613,899
The Howard Hughes Corp. *		6,555		957,292
The Macerich Co.		25,275		1,998,747
The St. Joe Co. *		18,535		344,566
Two Harbors Investment Corp.		64,614		679,093
UDR, Inc.		45,848		1,411,201
Universal Health Realty Income Trust		3,370		162,906
Ventas, Inc.		54,220		3,879,441
Vornado Realty Trust		32,295		3,602,830
Washington Prime Group, Inc.		29,035		500,273
Washington Real Estate Investment Trust		11,795		316,932
Weingarten Realty Investors		23,590		858,676
Western Asset Mortgage Capital Corp. (a)		7,856		122,946
Weyerhaeuser Co.		106,728		3,768,566
WP Carey, Inc.		17,046		1,161,514
				165,049,897
Retailing 4.3%
Aaron’s, Inc.		15,165		430,383
Abercrombie & Fitch Co., Class A		12,329		355,692
Advance Auto Parts, Inc.		13,494		1,984,698
Amazon.com, Inc. *		70,174		23,763,723
American Eagle Outfitters, Inc.		21,978		309,890
ANN, Inc. *		10,227		375,638
Asbury Automotive Group, Inc. *		5,381		407,396
Ascena Retail Group, Inc. *		26,960		360,994
AutoNation, Inc. *		11,853		704,542
AutoZone, Inc. *		5,975		3,451,817
Barnes & Noble, Inc. *		7,305		170,645
Bed Bath & Beyond, Inc. *		40,512		2,972,365
Best Buy Co., Inc.		49,211		1,939,406
Big Lots, Inc.		11,923		605,688
Blue Nile, Inc. *		1,938		67,132
Brown Shoe Co., Inc.		10,122		331,597
Burlington Stores, Inc. *		7,268		324,662
Cabela’s, Inc. *		8,707		472,268
CarMax, Inc. *		42,125		2,400,282
Chico’s FAS, Inc.		33,700		534,819
Core-Mark Holding Co., Inc.		3,370		202,571
CST Brands, Inc.		14,181		619,142
Dick’s Sporting Goods, Inc.		17,250		873,022
Dillard’s, Inc., Class A		6,740		794,511
Dollar General Corp. *		55,931		3,732,835
Dollar Tree, Inc. *		38,198		2,611,215
DSW, Inc., Class A		13,910		493,527
Expedia, Inc.		19,533		1,701,520

14 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Express, Inc. *		15,657		234,072
Family Dollar Stores, Inc.		17,328		1,369,778
Five Below, Inc. *		6,916		322,701
Foot Locker, Inc.		30,330		1,737,606
Fred’s, Inc., Class A		5,514		85,467
FTD Cos., Inc. *		2,745		95,142
GameStop Corp., Class A (a)		22,293		842,898
Genesco, Inc. *		5,055		411,325
Genuine Parts Co.		28,645		2,944,133
GNC Holdings, Inc., Class A		17,736		784,286
Group 1 Automotive, Inc.		5,055		452,473
Groupon, Inc. *		67,755		510,195
Guess?, Inc.		10,561		239,418
Hibbett Sports, Inc. *		3,964		198,874
HSN, Inc.		6,834		498,404
J.C. Penney Co., Inc. *(a)		59,694		478,149
Kohl’s Corp.		39,213		2,337,879
L Brands, Inc.		44,004		3,559,924
Lands’ End, Inc. *(a)		1,742		82,884
Liberty Interactive Corp., Class A *		87,118		2,539,490
Liberty TripAdvisor Holdings, Inc., Class A *		13,652		357,819
Liberty Ventures, Series A *		25,925		949,892
Lithia Motors, Inc., Class A		3,370		247,729
LKQ Corp. *		54,320		1,577,996
Lowe’s Cos., Inc.		185,387		11,833,252
Lumber Liquidators Holdings, Inc. *		4,042		257,031
Macy’s, Inc.		68,009		4,414,464
Mattress Firm Holding Corp. *		2,856		202,862
Monro Muffler Brake, Inc.		5,265		288,469
Murphy USA, Inc. *		8,699		554,300
Netflix, Inc. *		10,810		3,746,638
Nordstrom, Inc.		27,501		2,099,976
O’Reilly Automotive, Inc. *		20,655		3,774,495
Office Depot, Inc. *		93,069		617,047
Outerwall, Inc. *(a)		5,128		360,396
Penske Automotive Group, Inc.		7,094		335,901
PetSmart, Inc.		20,363		1,603,790
Pier 1 Imports, Inc.		20,220		279,036
Pool Corp.		10,110		600,635
Rent-A-Center, Inc.		10,375		357,937
Restoration Hardware Holdings, Inc. *		5,215		440,511
Ross Stores, Inc.		42,333		3,872,623
Sally Beauty Holdings, Inc. *		28,645		906,614
Sears Holdings Corp. *(a)		8,728		315,081
Select Comfort Corp. *		11,795		310,680
Shutterfly, Inc. *		6,756		288,887
Signet Jewelers Ltd.		15,165		1,986,008
Sonic Automotive, Inc., Class A		8,435		217,539
Stage Stores, Inc.		6,740		138,103
Staples, Inc.		108,719		1,528,589
Target Corp.		116,539		8,623,886
The Buckle, Inc. (a)		5,055		258,765
The Cato Corp., Class A		5,074		203,569
The Children’s Place, Inc.		3,764		211,010
The Finish Line, Inc., Class A		8,869		253,121
The Gap, Inc.		48,088		1,904,285
The Home Depot, Inc.		249,481		24,798,411
The Men’s Wearhouse, Inc.		10,110		472,339
The Pep Boys-Manny, Moe & Jack *		7,284		70,946
The Priceline Group, Inc. *		9,569		11,101,858
The TJX Cos., Inc.		128,554		8,505,133
Tiffany & Co.		21,952		2,369,060
Tractor Supply Co.		26,960		2,074,033
TripAdvisor, Inc. *		20,294		1,494,653
Ulta Salon, Cosmetics & Fragrance, Inc. *		11,795		1,491,950
Urban Outfitters, Inc. *		20,562		664,564
Vitamin Shoppe, Inc. *		6,740		322,576
Williams-Sonoma, Inc.		15,559		1,160,079
				183,161,616
Semiconductors & Semiconductor Equipment 2.5%
Advanced Energy Industries, Inc. *		5,614		114,694
Advanced Micro Devices, Inc. *(a)		111,420		310,862
Altera Corp.		60,660		2,282,029
Amkor Technology, Inc. *		25,535		170,829
Analog Devices, Inc.		57,968		3,167,372
Applied Materials, Inc.		229,193		5,512,092
Atmel Corp. *		84,250		666,417
Avago Technologies Ltd.		45,907		4,287,714
Broadcom Corp., Class A		101,484		4,377,005
Brooks Automation, Inc.		13,480		157,851
Cabot Microelectronics Corp. *		5,055		239,101
Cavium, Inc. *		8,611		487,383
Cirrus Logic, Inc. *		13,581		248,396
Cree, Inc. *(a)		23,600		857,624
Cypress Semiconductor Corp. *		26,255		278,303
Diodes, Inc. *		6,740		179,217
Entegris, Inc. *		25,275		340,454
Fairchild Semiconductor International, Inc. *		22,499		362,909
First Solar, Inc. *		12,759		622,639
FormFactor, Inc. *		27,744		223,062
Freescale Semiconductor Ltd. *		17,946		389,249
Integrated Device Technology, Inc. *		25,839		482,156
Intel Corp.		918,397		34,210,288
International Rectifier Corp. *		13,480		537,582
Intersil Corp., Class A		25,801		338,251
KLA-Tencor Corp.		32,015		2,223,122
Kulicke & Soffa Industries, Inc. *		15,165		212,007
Lam Research Corp.		33,719		2,786,538
Lattice Semiconductor Corp. *		20,944		137,183
Linear Technology Corp.		42,278		1,946,056
Marvell Technology Group Ltd.		74,936		1,073,084
Maxim Integrated Products, Inc.		54,014		1,597,194
Micrel, Inc.		8,590		112,100
Microchip Technology, Inc.		35,385		1,597,633
Micron Technology, Inc. *		194,410		6,989,039
Microsemi Corp. *		18,535		504,152
MKS Instruments, Inc.		10,110		368,408
Monolithic Power Systems, Inc.		5,513		265,341
NVIDIA Corp.		95,564		2,003,977
OmniVision Technologies, Inc. *		10,350		299,218
ON Semiconductor Corp. *		80,880		730,346
PMC-Sierra, Inc. *		40,440		329,586
Power Integrations, Inc.		5,083		254,963
Rambus, Inc. *		20,220		239,607

15

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
RF Micro Devices, Inc. *		65,715		960,096
Semtech Corp. *		13,480		343,201
Silicon Image, Inc. *		16,980		93,899
Silicon Laboratories, Inc. *		8,425		382,074
Skyworks Solutions, Inc.		35,385		2,387,426
Spansion, Inc., Class A *		8,590		200,748
SunEdison, Inc. *		45,549		986,136
SunPower Corp. *(a)		13,877		390,776
Synaptics, Inc. *		6,740		424,553
Teradyne, Inc.		33,700		668,945
Tessera Technologies, Inc.		10,110		345,560
Texas Instruments, Inc.		202,964		11,045,301
TriQuint Semiconductor, Inc. *		30,330		739,142
Ultratech, Inc. *		6,740		131,228
Veeco Instruments, Inc. *		6,887		257,643
Xilinx, Inc.		49,973		2,270,773
				106,140,534
Software & Services 10.3%
Accenture plc, Class A		116,718		10,076,265
ACI Worldwide, Inc. *		20,790		404,365
Activision Blizzard, Inc.		89,851		1,945,274
Actua Corp. *		7,552		127,327
Acxiom Corp. *		16,850		320,656
Adobe Systems, Inc. *		89,574		6,599,812
Advent Software, Inc.		6,740		212,512
Akamai Technologies, Inc. *		33,700		2,177,357
Alliance Data Systems Corp. *		10,345		2,957,325
Amdocs Ltd.		29,233		1,424,963
ANSYS, Inc. *		16,997		1,419,589
AOL, Inc. *		18,593		858,253
Aspen Technology, Inc. *		17,003		641,693
Autodesk, Inc. *		42,125		2,611,750
Automatic Data Processing, Inc.		89,499		7,664,694
Benefitfocus, Inc. *		7,336		198,732
Blackbaud, Inc.		11,795		500,580
Blackhawk Network Holdings, Inc., Class B *		7,410		264,463
Blucora, Inc. *		6,952		98,788
Booz Allen Hamilton Holding Corp.		14,701		400,014
Bottomline Technologies (de), Inc. *		8,425		206,581
Broadridge Financial Solutions, Inc.		23,611		1,069,342
CA, Inc.		62,798		1,956,158
CACI International, Inc., Class A *		5,055		450,855
Cadence Design Systems, Inc. *		56,421		1,064,664
Cardtronics, Inc. *		8,425		329,923
Cass Information Systems, Inc.		1,925		87,645
CDK Global, Inc.		29,725		1,131,631
ChannelAdvisor Corp. *		13,872		244,147
Citrix Systems, Inc. *		30,477		2,020,930
Cognizant Technology Solutions Corp., Class A *		113,435		6,124,356
CommVault Systems, Inc. *		8,425		398,502
Computer Sciences Corp.		28,645		1,815,520
Compuware Corp.		43,810		452,119
comScore, Inc. *		5,736		252,212
Concur Technologies, Inc. *		8,425		1,085,224
Constant Contact, Inc. *		6,107		199,577
Convergys Corp.		23,590		491,851
Conversant, Inc. *		15,165		531,078
CoreLogic, Inc. *		18,976		630,383
Cornerstone OnDemand, Inc. *		13,832		439,443
CoStar Group, Inc. *		6,255		1,064,976
CSG Systems International, Inc.		6,740		169,309
Dealertrack Technologies, Inc. *		7,740		365,018
Demandware, Inc. *		5,294		296,464
Dice Holdings, Inc. *		10,128		110,091
Digital River, Inc. *		7,345		186,490
DST Systems, Inc.		6,740		668,945
eBay, Inc. *		209,373		11,490,390
Electronic Arts, Inc. *		60,660		2,664,794
Ellie Mae, Inc. *		2,238		90,549
Envestnet, Inc. *		5,511		281,888
EPAM Systems, Inc. *		3,876		197,792
Epiq Systems, Inc.		5,614		86,119
Equinix, Inc.		10,023		2,276,925
Euronet Worldwide, Inc. *		10,110		587,088
EVERTEC, Inc.		10,168		224,103
ExlService Holdings, Inc. *		5,055		141,692
Facebook, Inc., Class A *		384,601		29,883,498
FactSet Research Systems, Inc.		8,425		1,154,730
Fair Isaac Corp.		5,511		395,580
Fidelity National Information Services, Inc.		56,045		3,429,394
FireEye, Inc. *		5,612		169,987
Fiserv, Inc. *		46,059		3,292,758
FleetCor Technologies, Inc. *		13,641		2,071,931
Forrester Research, Inc.		2,138		84,900
Fortinet, Inc. *		23,668		652,290
Gartner, Inc. *		16,850		1,440,338
Genpact Ltd. *		24,043		433,255
Global Cash Access Holdings, Inc. *		11,866		84,249
Global Eagle Entertainment, Inc. *		17,140		227,276
Global Payments, Inc.		14,022		1,210,940
Gogo, Inc. *(a)		11,921		188,590
Google, Inc., Class A *		52,507		28,830,544
Google, Inc., Class C *		52,707		28,558,234
GrubHub, Inc. *		4,346		159,933
Guidewire Software, Inc. *		12,332		622,396
Heartland Payment Systems, Inc.		5,654		308,256
HomeAway, Inc. *		16,283		510,635
IAC/InterActiveCorp		15,165		989,971
iGATE Corp. *		7,191		265,707
Imperva, Inc. *		5,519		234,778
Infoblox, Inc. *		9,040		162,720
Informatica Corp. *		19,135		696,131
Interactive Intelligence Group, Inc. *		2,138		96,702
International Business Machines Corp.		171,986		27,890,970
Intuit, Inc.		54,492		5,115,164
j2 Global, Inc.		8,546		483,191
Jack Henry & Associates, Inc.		16,850		1,035,601
Leidos Holdings, Inc.		12,687		512,682
LinkedIn Corp., Class A *		19,128		4,328,093
LivePerson, Inc. *		11,038		142,832
LogMeIn, Inc. *		3,824		193,380
Manhattan Associates, Inc. *		20,220		799,903

16 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
ManTech International Corp., Class A		8,570		258,128
Marketo, Inc. *		6,519		208,347
MasterCard, Inc., Class A		182,479		15,928,592
MAXIMUS, Inc.		10,948		573,566
Mentor Graphics Corp.		17,762		394,494
Microsoft Corp.		1,525,891		72,952,849
MicroStrategy, Inc., Class A *		1,685		289,382
Monotype Imaging Holdings, Inc.		6,740		186,294
NetScout Systems, Inc. *		5,567		212,381
NetSuite, Inc. *		7,275		769,331
NeuStar, Inc., Class A *(a)		10,224		278,604
NIC, Inc.		10,110		182,182
Nuance Communications, Inc. *		44,449		672,513
Oracle Corp.		602,557		25,554,442
Pandora Media, Inc. *		30,478		599,197
Paychex, Inc.		60,660		2,875,891
Pegasystems, Inc.		6,984		146,105
Progress Software Corp. *		10,588		273,065
Proofpoint, Inc. *		10,641		462,032
PROS Holdings, Inc. *		3,876		110,854
PTC, Inc. *		22,132		864,697
Qlik Technologies, Inc. *		16,322		503,207
Rackspace Hosting, Inc. *		20,220		928,300
Red Hat, Inc. *		35,385		2,199,178
Rovi Corp. *		20,558		458,032
Sabre Corp.		9,020		169,035
salesforce.com, Inc. *		107,002		6,406,210
Sapient Corp. *		19,103		471,844
Science Applications International Corp.		7,250		367,068
ServiceNow, Inc. *		23,609		1,510,032
ServiceSource International, Inc. *		58,706		238,933
Shutterstock, Inc. *		1,928		144,947
Silver Spring Networks, Inc. *		21,308		152,778
SolarWinds, Inc. *		10,687		554,869
Solera Holdings, Inc.		12,195		642,311
Splunk, Inc. *		22,916		1,537,664
SPS Commerce, Inc. *		2,571		149,838
SS&C Technologies Holdings, Inc.		10,862		549,074
Sykes Enterprises, Inc. *		7,252		168,029
Symantec Corp.		133,698		3,488,181
Synchronoss Technologies, Inc. *		6,740		288,674
Synopsys, Inc. *		27,213		1,180,772
Syntel, Inc. *		4,190		186,455
Tableau Software, Inc., Class A *		6,144		515,359
Take-Two Interactive Software, Inc. *		16,850		466,071
Tangoe, Inc. *		5,414		70,409
TeleTech Holdings, Inc. *		6,810		159,150
Teradata Corp. *		29,649		1,338,356
The Ultimate Software Group, Inc. *		5,055		744,298
The Western Union Co.		99,120		1,841,650
TIBCO Software, Inc. *		27,548		661,978
TiVo, Inc. *		25,275		307,850
Total System Services, Inc.		29,180		962,648
Trulia, Inc. *(a)		6,976		354,590
Twitter, Inc. *		90,361		3,771,668
Tyler Technologies, Inc. *		6,740		731,829
Unisys Corp. *		8,425		225,116
Vantiv, Inc., Class A *		27,223		918,504
VeriFone Systems, Inc. *		22,799		813,012
Verint Systems, Inc. *		11,269		678,281
VeriSign, Inc. *		20,902		1,256,210
Virtusa Corp. *		3,976		159,318
Visa, Inc., Class A		91,172		23,539,699
VMware, Inc., Class A *		15,357		1,350,802
Web.com Group, Inc. *		6,740		114,378
WebMD Health Corp. *		8,837		322,904
WEX, Inc. *		6,887		778,782
Workday, Inc., Class A *		16,599		1,444,943
Xerox Corp.		203,963		2,847,323
Xoom Corp. *		7,192		100,760
Yahoo! Inc. *		172,373		8,918,579
Yelp, Inc. *		10,569		603,384
Zillow, Inc., Class A *(a)		4,866		575,940
Zynga, Inc., Class A *		111,958		291,091
				432,399,984
Technology Hardware & Equipment 6.5%
3D Systems Corp. *(a)		19,574		690,571
ADTRAN, Inc.		11,795		246,398
Amphenol Corp., Class A		60,660		3,253,196
Anixter International, Inc.		5,102		443,364
Apple, Inc.		1,109,468		131,949,029
ARRIS Group, Inc. *		25,275		752,437
Arrow Electronics, Inc. *		19,176		1,120,645
Aruba Networks, Inc. *		18,535		346,790
Avnet, Inc.		28,645		1,254,365
AVX Corp.		11,853		169,379
Badger Meter, Inc.		2,171		119,600
Belden, Inc.		10,110		738,333
Benchmark Electronics, Inc. *		10,298		244,886
Black Box Corp.		2,238		51,877
Brocade Communications Systems, Inc.		84,615		956,996
CalAmp Corp. *		7,284		136,138
CDW Corp.		16,419		575,979
Checkpoint Systems, Inc. *		8,855		112,990
Ciena Corp. *		16,850		278,531
Cisco Systems, Inc.		944,038		26,093,210
Cognex Corp. *		16,850		685,964
Coherent, Inc. *		5,055		279,845
CommScope Holding Co., Inc. *		16,300		361,860
Comtech Telecommunications Corp.		3,512		139,391
Corning, Inc.		242,860		5,104,917
Cray, Inc. *		5,713		191,843
Daktronics, Inc.		8,690		103,672
Diebold, Inc.		11,795		426,743
Dolby Laboratories, Inc., Class A		8,867		393,517
DTS, Inc. *		3,476		112,101
EchoStar Corp., Class A *		7,014		377,914
Electro Rent Corp.		3,976		55,465
Electronics For Imaging, Inc. *		8,425		374,491
EMC Corp.		375,286		11,389,930
F5 Networks, Inc. *		14,125		1,824,809
Fabrinet *		6,752		113,231
FARO Technologies, Inc. *		5,055		277,671
FEI Co.		7,811		668,934
Finisar Corp. *		16,850		287,293
FLIR Systems, Inc.		28,645		908,906

17

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Harmonic, Inc. *		27,136		189,952
Harris Corp.		20,514		1,470,238
Hewlett-Packard Co.		345,961		13,513,237
Infinera Corp. *		33,700		459,331
Ingram Micro, Inc., Class A *		28,645		785,732
Insight Enterprises, Inc. *		8,425		197,398
InterDigital, Inc.		8,425		420,239
InvenSense, Inc. *(a)		11,927		172,822
IPG Photonics Corp. *		5,149		371,191
Itron, Inc. *		6,740		272,296
Jabil Circuit, Inc.		37,070		769,202
JDS Uniphase Corp. *		45,495		606,903
Juniper Networks, Inc.		74,309		1,646,687
Keysight Technologies, Inc. *		32,015		1,126,928
Kimball Electronics, Inc. *		5,064		55,704
Knowles Corp. *		15,529		324,401
Lexmark International, Inc., Class A		11,285		483,675
Littelfuse, Inc.		3,370		323,958
Maxwell Technologies, Inc. *		21,308		219,259
Methode Electronics, Inc.		7,352		284,890
Motorola Solutions, Inc.		43,274		2,843,967
MTS Systems Corp.		2,116		140,354
National Instruments Corp.		18,535		596,642
NCR Corp. *		28,645		849,324
NetApp, Inc.		60,736		2,584,317
NETGEAR, Inc. *		6,740		234,013
Newport Corp. *		6,852		120,664
OSI Systems, Inc. *		3,417		241,138
Palo Alto Networks, Inc. *		11,198		1,377,354
Park Electrochemical Corp.		3,742		92,053
Plantronics, Inc.		10,110		527,439
Plexus Corp. *		5,597		218,339
Polycom, Inc. *		25,405		334,584
QLogic Corp. *		10,920		126,017
QUALCOMM, Inc.		312,457		22,778,115
Quantum Corp. *		52,478		82,915
Riverbed Technology, Inc. *		29,618		612,352
Rofin-Sinar Technologies, Inc. *		5,248		141,276
Rogers Corp. *		2,171		153,750
SanDisk Corp.		41,557		4,299,487
Sanmina Corp. *		13,480		331,608
ScanSource, Inc. *		3,946		153,342
Seagate Technology plc		60,167		3,977,640
Silicon Graphics International Corp. *		20,808		199,965
Sonus Networks, Inc. *		47,697		176,479
Super Micro Computer, Inc. *		6,784		225,772
SYNNEX Corp.		3,826		273,329
TE Connectivity Ltd.		77,608		4,982,434
Tech Data Corp. *		8,425		525,130
Trimble Navigation Ltd. *		47,180		1,326,937
Ubiquiti Networks, Inc. (a)		5,659		163,545
Universal Display Corp. *(a)		7,282		202,003
ViaSat, Inc. *		8,425		558,578
Vishay Intertechnology, Inc.		25,746		357,097
Western Digital Corp.		39,449		4,073,898
Zebra Technologies Corp., Class A *		10,110		739,547
				273,928,658
Telecommunication Services 2.1%
8x8, Inc. *		17,730		137,939
AT&T, Inc.		958,108		33,897,861
Atlantic Tele-Network, Inc.		3,370		229,093
CenturyLink, Inc.		105,244		4,290,798
Cincinnati Bell, Inc. *		39,188		139,509
Cogent Communications Holdings, Inc.		8,425		298,414
Consolidated Communications Holdings, Inc.		5,055		138,558
Frontier Communications Corp.		183,665		1,294,838
General Communication, Inc., Class A *		11,884		144,391
Globalstar, Inc. *(a)		45,508		128,333
Iridium Communications, Inc. *		16,557		158,119
Level 3 Communications, Inc. *		51,385		2,569,250
Premiere Global Services, Inc. *		11,795		124,437
SBA Communications Corp., Class A *		23,871		2,904,385
Shenandoah Telecommunications Co.		7,084		209,899
Spok Holdings, Inc.		10,226		162,184
Sprint Corp. *		159,010		814,131
T-Mobile US, Inc. *		47,310		1,380,979
Telephone & Data Systems, Inc.		21,905		559,892
United States Cellular Corp. *		3,370		129,711
Verizon Communications, Inc.		766,733		38,789,022
Vonage Holdings Corp. *		65,769		224,272
Windstream Holdings, Inc. (a)		109,525		1,107,298
				89,833,313
Transportation 2.5%
Alaska Air Group, Inc.		26,960		1,591,449
Allegiant Travel Co.		3,370		472,676
AMERCO		967		269,019
American Airlines Group, Inc.		133,855		6,495,983
ArcBest Corp.		5,404		234,642
Avis Budget Group, Inc. *		19,221		1,156,143
C.H. Robinson Worldwide, Inc.		27,720		2,044,073
Con-way, Inc.		10,196		505,110
CSX Corp.		187,557		6,843,955
Delta Air Lines, Inc.		158,638		7,403,636
Expeditors International of Washington, Inc.		38,755		1,814,509
FedEx Corp.		49,246		8,774,652
Forward Air Corp.		6,740		329,990
Genesee & Wyoming, Inc., Class A *		8,425		830,621
Hawaiian Holdings, Inc. *		10,974		222,663
Heartland Express, Inc.		8,930		236,913
Hertz Global Holdings, Inc. *		82,865		1,967,215
Hub Group, Inc., Class A *		6,868		258,374
J.B. Hunt Transport Services, Inc.		17,588		1,451,538
JetBlue Airways Corp. *		52,235		764,198
Kansas City Southern		20,244		2,407,821
Kirby Corp. *		10,110		971,975
Knight Transportation, Inc.		8,425		280,300
Landstar System, Inc.		8,164		656,222
Matson, Inc.		8,425		296,644
Norfolk Southern Corp.		59,039		6,591,114

18 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Old Dominion Freight Line, Inc. *		12,353		1,001,087
Roadrunner Transportation Systems, Inc. *		3,876		87,249
Ryder System, Inc.		10,110		965,707
Saia, Inc. *		4,510		250,170
SkyWest, Inc.		24,126		301,575
Southwest Airlines Co.		130,080		5,439,946
Spirit Airlines, Inc. *		13,705		1,133,266
Swift Transportation Co. *		20,769		603,755
Union Pacific Corp.		166,348		19,424,456
United Continental Holdings, Inc. *		67,582		4,138,046
United Parcel Service, Inc., Class B		130,670		14,363,246
UTi Worldwide, Inc. *		17,030		200,954
Werner Enterprises, Inc.		7,328		227,315
Wesco Aircraft Holdings, Inc. *		8,701		121,727
XPO Logistics, Inc. *		9,380		362,818
				103,492,752
Utilities 3.1%
AES Corp.		118,361		1,641,667
AGL Resources, Inc.		20,817		1,088,937
ALLETE, Inc.		8,425		429,422
Alliant Energy Corp.		20,220		1,271,231
Ameren Corp.		44,268		1,908,393
American Electric Power Co., Inc.		90,990		5,236,475
American States Water Co.		6,740		235,159
American Water Works Co., Inc.		32,018		1,698,555
Aqua America, Inc.		31,152		828,020
Atmos Energy Corp.		20,278		1,088,929
Avista Corp.		13,480		464,386
Black Hills Corp.		7,264		392,329
California Water Service Group		7,128		178,699
Calpine Corp. *		72,461		1,663,705
CenterPoint Energy, Inc.		78,069		1,868,972
Chesapeake Utilities Corp.		3,624		162,826
Cleco Corp.		10,510		564,702
CMS Energy Corp.		50,550		1,673,205
Connecticut Water Service, Inc.		3,624		126,296
Consolidated Edison, Inc.		53,920		3,405,048
Dominion Resources, Inc.		107,517		7,800,358
DTE Energy Co.		32,699		2,663,661
Duke Energy Corp.		132,025		10,680,823
Dynegy, Inc. *		18,767		622,126
Edison International		59,481		3,780,612
El Paso Electric Co.		8,425		318,718
Entergy Corp.		33,700		2,827,430
Exelon Corp.		158,770		5,742,711
FirstEnergy Corp.		77,590		2,861,519
Great Plains Energy, Inc.		27,466		718,785
Hawaiian Electric Industries, Inc. (a)		16,850		475,002
IDACORP, Inc.		10,110		627,932
Integrys Energy Group, Inc.		13,880		1,011,019
ITC Holdings Corp.		28,713		1,090,807
MDU Resources Group, Inc.		34,206		838,731
MGE Energy, Inc.		5,547		244,123
Middlesex Water Co.		3,642		80,270
National Fuel Gas Co.		15,251		1,056,437
New Jersey Resources Corp.		8,425		487,808
NextEra Energy, Inc.		81,294		8,486,281
NiSource, Inc.		56,345		2,357,475
Northeast Utilities		57,909		2,932,512
Northwest Natural Gas Co.		6,740		313,477
NorthWestern Corp.		6,740		358,770
NRG Energy, Inc.		63,736		1,992,387
NRG Yield, Inc., Class A		7,022		332,773
OGE Energy Corp.		37,918		1,353,293
ONE Gas, Inc.		9,364		363,510
Ormat Technologies, Inc.		7,155		195,904
Otter Tail Corp.		5,411		155,729
Pattern Energy Group, Inc.		7,056		187,196
Pepco Holdings, Inc.		47,472		1,305,480
PG&E Corp.		85,949		4,340,425
Piedmont Natural Gas Co., Inc.		15,613		585,175
Pinnacle West Capital Corp.		20,220		1,278,511
PNM Resources, Inc.		15,165		439,178
Portland General Electric Co.		13,480		497,008
PPL Corp.		121,608		4,320,732
Public Service Enterprise Group, Inc.		94,360		3,942,361
Questar Corp.		32,168		771,710
SCANA Corp.		27,012		1,540,494
Sempra Energy		42,125		4,706,626
SJW Corp.		7,605		227,694
South Jersey Industries, Inc.		6,740		384,719
Southwest Gas Corp.		8,425		487,723
TECO Energy, Inc.		43,441		861,435
The Empire District Electric Co.		7,096		196,630
The Laclede Group, Inc.		8,865		449,721
The Southern Co.		165,792		7,863,515
UGI Corp.		30,330		1,143,744
UIL Holdings Corp.		10,611		422,318
Unitil Corp.		5,515		194,293
Vectren Corp.		15,165		670,445
Westar Energy, Inc.		22,391		875,264
WGL Holdings, Inc.		10,110		494,076
Wisconsin Energy Corp.		43,810		2,164,214
Xcel Energy, Inc.		92,729		3,147,222
				132,195,848
Total Common Stock
(Cost $3,251,144,071)				4,205,124,872
Rights 0.0% of net assets
Telecommunication Services 0.0%
Contra Leap Wireless CVR *(c)(d)		8,528		21,491
Total Rights
(Cost $21,491)				21,491
Other Investment Companies 0.8% of net assets
Money Market Fund 0.2%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (e)		9,395,241		9,395,241

19

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Securities Lending Collateral 0.6%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (e)		22,845,280		22,845,280
Total Other Investment Companies
(Cost $32,240,521)				32,240,521
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investments 0.0% of net assets
U.S. Treasury Obligations 0.0%
U.S. Treasury Bills
0.00%, 12/18/14 (f)(g)		160,000		160,000
0.01%, 12/18/14 (f)(g)		194,000		193,999
Total Short-Term Investments
(Cost $353,999)				353,999
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $3,284,731,097 and the unrealized appreciation and depreciation were $997,713,809 and ($44,704,023), respectively, with a net unrealized appreciation of $953,009,786.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $22,399,061. Non-Cash Collateral pledged to the fund for securities on loan amounted to $801,552.
(b)	Issuer is affiliated with the fund’s adviser.
(c)	Illiquid security. At the period end, the value of these amounted to $21,491 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.
(f)	All or a portion of this security is held as collateral for open futures contracts.
(g)	The rate shown is the purchase yield.

CVR —	Contingent Value Rights
REIT —	Real Estate Investment Trust

In addition to the above, the fund held the following at 11/30/14:

			Contract		Unrealized
	Number of		Value		Appreciation
	Contracts		($)		($)
Futures Contracts
S&P 500 Index, e-mini, Long, expires 12/19/14		30		3,099,450		28,768

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.

•  Futures contracts (“futures”): Futures are valued at their settlement prices as of the close of their exchanges.

20 

 Schwab U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

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

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”).

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 futures. Investments in mutual funds are valued daily at their NAVs, which are classified as Level 1 prices, without consideration to the classification level of the specific investments held by the underlying fund.

•  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 U.S. Broad Market ETF

Portfolio Holdings (Unaudited) continued

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$4,205,124,872		$—		$—		$4,205,124,872
Rights1		—		—		21,491		21,491
Other Investment Companies1		32,240,521		—		—		32,240,521
Short-Term Investments1		—		353,999		—		353,999
Total		$4,237,365,393		$353,999		$21,491		$4,237,740,883
Other Financial Instruments
Futures Contracts2		$28,768		$—		$—		$28,768

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		November 30,
Investments in Securities	2014		(Losses)		(Depreciation)		Purchases		Sales		in		out		2014
Rights		$21,491		$—		$—		$—		$—		$—		$—		$21,491
Total		$21,491		$—		$—		$—		$—		$—		$—		$21,491

The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2014.

REG54093NOV14

22 

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

Portfolio Holdings as of November 30, 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		2,858,830,825		3,658,331,606
	0	.3%	Other Investment Companies		10,840,173		10,840,173
	0	.0%	Short-Term Investment		278,998		278,998
	100	.0%	Total Investments		2,869,949,996		3,669,450,777
	(0	.0)%	Other Assets and Liabilities, Net				(1,733,594	)
	100	.0%	Net Assets				3,667,717,183

	Number		Value
Security	of Shares		($)
Common Stock 99.7% of net assets
Automobiles & Components 1.2%
Autoliv, Inc.		17,199		1,702,013
BorgWarner, Inc.		40,634		2,298,259
Delphi Automotive plc		54,197		3,953,671
Ford Motor Co.		700,527		11,019,290
General Motors Co.		246,838		8,251,794
Harley-Davidson, Inc.		40,119		2,795,492
Johnson Controls, Inc.		123,279		6,163,950
Lear Corp.		14,229		1,364,703
Tesla Motors, Inc. *		17,276		4,224,328
The Goodyear Tire & Rubber Co.		49,722		1,362,880
TRW Automotive Holdings Corp. *		20,193		2,087,956
				45,224,336
Banks 5.6%
Bank of America Corp.		1,904,203		32,447,619
BB&T Corp.		131,278		4,934,740
BOK Financial Corp.		3,308		213,201
CIT Group, Inc.		32,741		1,597,761
Citigroup, Inc.		551,281		29,752,635
Comerica, Inc.		32,813		1,529,414
Cullen/Frost Bankers, Inc.		9,227		688,888
Fifth Third Bancorp		153,312		3,084,637
First Republic Bank		21,694		1,117,892
Hudson City Bancorp, Inc.		81,953		802,320
Huntington Bancshares, Inc.		146,946		1,485,624
JPMorgan Chase & Co.		680,850		40,959,936
KeyCorp		163,588		2,208,438
M&T Bank Corp.		24,227		3,053,086
New York Community Bancorp, Inc.		78,774		1,251,719
People’s United Financial, Inc.		56,556		835,898
Regions Financial Corp.		261,401		2,632,308
SunTrust Banks, Inc.		98,193		3,858,003
The PNC Financial Services Group, Inc.		98,149		8,585,093
U.S. Bancorp		327,583		14,479,168
Wells Fargo & Co.		863,891		47,064,782
Zions Bancorp		34,563		969,838
				203,553,000
Capital Goods 7.5%
3M Co.		116,607		18,667,615
AGCO Corp.		15,738		663,986
Allison Transmission Holdings, Inc.		29,854		981,898
AMETEK, Inc.		43,923		2,238,316
B/E Aerospace, Inc. *		18,955		1,476,026
Carlisle Cos., Inc.		10,859		970,795
Caterpillar, Inc.		113,406		11,408,644
Chicago Bridge & Iron Co. N.V.		15,708		785,871
Colfax Corp. *		16,959		873,897
Cummins, Inc.		31,364		4,567,226
Danaher Corp.		108,974		9,105,867
Deere & Co.		65,227		5,649,963
Donaldson Co., Inc.		24,028		937,092
Dover Corp.		30,244		2,328,486
Eaton Corp. plc		86,507		5,867,770
Emerson Electric Co.		128,116		8,167,395
Fastenal Co.		49,208		2,224,202
Flowserve Corp.		24,514		1,443,139
Fluor Corp.		29,722		1,842,467
Fortune Brands Home & Security, Inc.		30,183		1,355,820
General Dynamics Corp.		57,704		8,387,853
General Electric Co.		1,824,575		48,332,992
Honeywell International, Inc.		142,751		14,142,342
Hubbell, Inc., Class B		9,473		1,011,716
IDEX Corp.		17,448		1,340,181
Illinois Tool Works, Inc.		65,979		6,263,386
Ingersoll-Rand plc		48,355		3,049,266
Jacobs Engineering Group, Inc. *		23,975		1,113,639
Joy Global, Inc.		19,292		946,080
L-3 Communications Holdings, Inc.		15,542		1,936,533
Lincoln Electric Holdings, Inc.		14,840		1,069,074
Lockheed Martin Corp.		49,108		9,407,128
Masco Corp.		65,304		1,580,357
MSC Industrial Direct Co., Inc., Class A		8,310		645,438
Nordson Corp.		10,673		834,095
Northrop Grumman Corp.		37,478		5,281,774
Oshkosh Corp.		15,231		691,487
Owens Corning		18,651		649,801
PACCAR, Inc.		63,812		4,276,680
Pall Corp.		19,918		1,914,319
Parker-Hannifin Corp.		26,754		3,452,069
Pentair plc		35,727		2,311,894
Precision Castparts Corp.		25,518		6,070,732
Quanta Services, Inc. *		39,177		1,194,898
Raytheon Co.		57,171		6,100,146
Rockwell Automation, Inc.		25,829		2,980,925
Rockwell Collins, Inc.		24,070		2,058,707

1

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Roper Industries, Inc.		17,808		2,810,459
Sensata Technologies Holding N.V. *		29,899		1,482,093
Snap-on, Inc.		10,394		1,406,620
SolarCity Corp. *(a)		8,904		489,720
SPX Corp.		7,873		706,129
Stanley Black & Decker, Inc.		28,480		2,689,651
Textron, Inc.		50,526		2,188,786
The Boeing Co.		121,799		16,364,914
The Timken Co.		13,740		587,935
TransDigm Group, Inc.		9,124		1,804,636
Trinity Industries, Inc.		28,246		905,567
United Rentals, Inc. *		16,553		1,875,620
United Technologies Corp.		153,551		16,902,894
W.W. Grainger, Inc.		10,842		2,663,663
WABCO Holdings, Inc. *		10,834		1,111,785
Wabtec Corp.		17,231		1,524,771
Xylem, Inc.		32,756		1,255,865
				275,371,095
Commercial & Professional Services 0.8%
Cintas Corp.		18,192		1,330,745
Copart, Inc. *		20,073		729,453
Equifax, Inc.		21,654		1,722,576
IHS, Inc., Class A *		12,261		1,501,482
Manpowergroup, Inc.		13,754		919,592
Nielsen N.V.		55,050		2,299,438
Republic Services, Inc.		43,669		1,729,729
Robert Half International, Inc.		23,172		1,315,938
Rollins, Inc.		13,723		446,409
Stericycle, Inc. *		15,428		1,988,978
The ADT Corp.		28,254		987,195
The Dun & Bradstreet Corp.		7,491		950,982
Towers Watson & Co., Class A		12,658		1,429,848
Tyco International plc		83,104		3,565,162
Verisk Analytics, Inc., Class A *		26,847		1,663,977
Waste Connections, Inc.		24,070		1,136,345
Waste Management, Inc.		77,909		3,796,505
				27,514,354
Consumer Durables & Apparel 1.5%
Carter’s, Inc.		10,546		877,533
Coach, Inc.		50,567		1,877,047
D.R. Horton, Inc.		58,439		1,489,610
Fossil Group, Inc. *		8,242		920,796
Garmin Ltd. (a)		21,677		1,242,092
Hanesbrands, Inc.		18,128		2,097,772
Harman International Industries, Inc.		12,272		1,331,880
Hasbro, Inc.		20,776		1,229,939
Jarden Corp. *		35,734		1,577,678
Leggett & Platt, Inc.		25,228		1,061,846
Lennar Corp., Class A		34,720		1,640,173
lululemon athletica, Inc. *		18,490		891,033
Mattel, Inc.		62,631		1,976,008
Michael Kors Holdings Ltd. *		37,136		2,848,703
Mohawk Industries, Inc. *		10,737		1,649,096
Newell Rubbermaid, Inc.		52,609		1,910,233
NIKE, Inc., Class B		127,251		12,634,752
NVR, Inc. *		784		986,797
Polaris Industries, Inc.		10,431		1,634,642
PulteGroup, Inc.		63,898		1,382,114
PVH Corp.		14,911		1,895,785
Ralph Lauren Corp.		10,613		1,962,344
Toll Brothers, Inc. *		27,381		958,061
Under Armour, Inc., Class A *		30,096		2,181,659
VF Corp.		62,760		4,717,669
Whirlpool Corp.		13,926		2,592,603
				55,567,865
Consumer Services 1.9%
Aramark		12,888		391,795
Burger King Worldwide, Inc.		9,387		341,124
Carnival Corp.		83,303		3,678,660
Chipotle Mexican Grill, Inc. *		5,547		3,681,100
Darden Restaurants, Inc.		22,712		1,294,357
Dunkin’ Brands Group, Inc.		18,611		899,842
Extended Stay America, Inc.		13,880		258,168
H&R Block, Inc.		48,104		1,618,219
Hilton Worldwide Holdings, Inc. *		54,395		1,426,237
Hyatt Hotels Corp., Class A *		10,807		636,857
International Game Technology		46,514		792,133
Las Vegas Sands Corp.		69,130		4,402,890
Marriott International, Inc., Class A		40,570		3,196,510
McDonald’s Corp.		179,576		17,384,753
MGM Resorts International *		67,396		1,537,303
Norwegian Cruise Line Holdings Ltd. *		17,359		761,887
Royal Caribbean Cruises Ltd.		28,822		2,125,334
Starbucks Corp.		137,153		11,138,195
Starwood Hotels & Resorts Worldwide, Inc.		31,910		2,520,890
Wyndham Worldwide Corp.		23,840		1,987,302
Wynn Resorts Ltd.		14,258		2,546,621
Yum! Brands, Inc.		80,173		6,193,364
				68,813,541
Diversified Financials 5.0%
Affiliated Managers Group, Inc. *		10,776		2,193,886
Ally Financial, Inc. *		17,272		410,728
American Express Co.		162,899		15,055,126
Ameriprise Financial, Inc.		34,962		4,606,943
Berkshire Hathaway, Inc., Class B *		330,224		49,101,007
BlackRock, Inc.		23,396		8,401,036
Capital One Financial Corp.		101,367		8,433,734
CME Group, Inc.		56,439		4,776,997
Discover Financial Services		82,215		5,389,193
Eaton Vance Corp.		22,324		932,920
Franklin Resources, Inc.		72,742		4,136,110
Intercontinental Exchange, Inc.		21,100		4,768,389
Invesco Ltd.		78,032		3,149,371
Legg Mason, Inc.		18,104		1,027,402
Leucadia National Corp.		55,782		1,290,238
LPL Financial Holdings, Inc.		14,088		601,135
McGraw Hill Financial, Inc.		48,993		4,578,886
Moody’s Corp.		34,995		3,534,845
Morgan Stanley		277,213		9,752,353
MSCI, Inc.		22,776		1,101,447
Navient Corp.		77,767		1,629,996
Northern Trust Corp.		40,376		2,734,666
Raymond James Financial, Inc.		21,610		1,216,643

2 

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Santander Consumer USA Holdings, Inc.		13,667		254,070
SEI Investments Co.		25,902		1,026,496
State Street Corp.		77,620		5,955,783
Synchrony Financial *		22,510		653,015
T. Rowe Price Group, Inc.		47,838		3,993,038
TD Ameritrade Holding Corp.		49,524		1,714,026
The Bank of New York Mellon Corp.		206,276		8,257,228
The Charles Schwab Corp. (b)		204,356		5,787,362
The Goldman Sachs Group, Inc.		74,229		13,985,486
The NASDAQ OMX Group, Inc.		22,988		1,032,391
Voya Financial, Inc.		28,549		1,195,632
				182,677,578
Energy 8.0%
Anadarko Petroleum Corp.		91,228		7,220,696
Antero Resources Corp. *		9,837		461,552
Apache Corp.		70,312		4,506,296
Baker Hughes, Inc.		78,957		4,500,549
Cabot Oil & Gas Corp.		77,209		2,550,985
Cameron International Corp. *		37,130		1,904,026
Cheniere Energy, Inc. *		39,413		2,600,864
Chesapeake Energy Corp.		99,001		2,005,760
Chevron Corp.		345,235		37,585,734
Cimarex Energy Co.		15,283		1,603,951
Cobalt International Energy, Inc. *		52,727		474,543
Concho Resources, Inc. *		19,930		1,898,332
ConocoPhillips		223,555		14,770,279
CONSOL Energy, Inc.		40,157		1,571,343
Continental Resources, Inc. *		15,168		621,585
Core Laboratories N.V.		7,854		1,011,831
CVR Energy, Inc. (a)		3,021		140,597
Denbury Resources, Inc.		65,821		543,681
Devon Energy Corp.		70,433		4,153,434
Diamond Offshore Drilling, Inc. (a)		12,172		357,492
Dresser-Rand Group, Inc. *		13,474		1,092,876
Ensco plc, Class A		41,576		1,405,269
EOG Resources, Inc.		98,248		8,520,067
EQT Corp.		26,712		2,430,258
Exxon Mobil Corp.		775,455		70,209,696
FMC Technologies, Inc. *		43,036		2,055,830
Halliburton Co.		154,899		6,536,738
Helmerich & Payne, Inc.		20,916		1,454,708
Hess Corp.		46,561		3,395,694
HollyFrontier Corp.		37,507		1,531,036
Kinder Morgan, Inc. (a)		308,688		12,764,249
Marathon Oil Corp.		119,529		3,456,779
Marathon Petroleum Corp.		50,846		4,580,716
Murphy Oil Corp.		31,422		1,521,453
Nabors Industries Ltd.		52,362		686,989
National Oilwell Varco, Inc.		77,877		5,220,874
Noble Corp. plc		44,804		806,024
Noble Energy, Inc.		66,332		3,262,208
Oasis Petroleum, Inc. *		16,801		308,802
Occidental Petroleum Corp.		140,579		11,213,987
Oceaneering International, Inc.		19,293		1,209,864
ONEOK, Inc.		37,418		2,026,559
Peabody Energy Corp.		49,046		495,855
Phillips 66		102,868		7,511,421
Pioneer Natural Resources Co.		25,579		3,663,680
QEP Resources, Inc.		31,265		639,057
Range Resources Corp.		29,680		1,948,492
Schlumberger Ltd.		234,335		20,141,093
SM Energy Co.		11,872		515,838
Southwestern Energy Co. *		65,546		2,109,270
Spectra Energy Corp.		123,841		4,691,097
Superior Energy Services, Inc.		28,196		544,465
Tesoro Corp.		23,339		1,788,234
The Williams Cos., Inc.		121,765		6,301,339
Transocean Ltd. (a)		60,874		1,278,963
Valero Energy Corp.		96,927		4,711,621
Weatherford International plc *		138,795		1,818,215
Whiting Petroleum Corp. *		20,954		875,249
				295,208,095
Food & Staples Retailing 2.2%
Costco Wholesale Corp.		79,413		11,286,176
CVS Health Corp.		209,689		19,157,187
Safeway, Inc.		40,743		1,419,486
Sprouts Farmers Market, Inc. *		16,589		527,364
Sysco Corp.		107,252		4,317,966
The Kroger Co.		86,907		5,200,515
Wal-Mart Stores, Inc.		285,846		25,022,959
Walgreen Co.		158,807		10,895,748
Whole Foods Market, Inc.		66,871		3,278,685
				81,106,086
Food, Beverage & Tobacco 5.0%
Altria Group, Inc.		360,657		18,126,621
Archer-Daniels-Midland Co.		119,250		6,282,090
Brown-Forman Corp., Class B		28,821		2,797,078
Bunge Ltd.		26,122		2,371,094
Campbell Soup Co.		31,591		1,430,440
Coca-Cola Enterprises, Inc.		40,121		1,762,917
ConAgra Foods, Inc.		76,096		2,779,026
Constellation Brands, Inc., Class A *		29,752		2,868,093
Dr. Pepper Snapple Group, Inc.		35,830		2,651,420
Flowers Foods, Inc.		33,133		646,093
General Mills, Inc.		114,198		6,023,944
Hormel Foods Corp.		25,242		1,339,845
Ingredion, Inc.		14,041		1,168,632
Kellogg Co.		46,362		3,071,482
Keurig Green Mountain, Inc.		23,076		3,280,023
Kraft Foods Group, Inc.		107,392		6,461,777
Lorillard, Inc.		67,042		4,233,032
McCormick & Co., Inc. Non-Voting Shares		23,744		1,764,892
Mead Johnson Nutrition Co.		35,962		3,734,294
Molson Coors Brewing Co., Class B		28,196		2,180,961
Mondelez International, Inc., Class A		307,571		12,056,783
Monster Beverage Corp. *		25,970		2,912,535
PepsiCo, Inc.		272,817		27,308,982
Philip Morris International, Inc.		284,198		24,705,332
Pilgrim’s Pride Corp. *(a)		11,138		359,757
Reynolds American, Inc.		56,771		3,741,777
The Coca-Cola Co.		716,396		32,116,033
The Hershey Co.		26,873		2,694,824
The J.M. Smucker Co.		18,487		1,896,212
Tyson Foods, Inc., Class A		52,899		2,239,744
				185,005,733

3

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Health Care Equipment & Services 4.7%
Abbott Laboratories		273,246		12,162,179
Aetna, Inc.		63,337		5,525,520
AmerisourceBergen Corp.		38,803		3,533,013
Baxter International, Inc.		96,532		7,046,836
Becton Dickinson & Co.		34,745		4,875,766
Boston Scientific Corp. *		238,038		3,063,549
C.R. Bard, Inc.		13,944		2,333,528
Cardinal Health, Inc.		61,152		5,026,083
CareFusion Corp. *		37,910		2,243,135
Cerner Corp. *		53,519		3,446,624
Cigna Corp.		47,748		4,912,792
Community Health Systems, Inc. *		21,609		1,017,352
Covidien plc		82,278		8,310,078
DaVita HealthCare Partners, Inc. *		31,503		2,410,925
DENTSPLY International, Inc.		26,732		1,469,725
Edwards Lifesciences Corp. *		19,663		2,549,898
Envision Healthcare Holdings, Inc. *		23,482		830,323
Express Scripts Holding Co. *		135,049		11,229,324
Halyard Health, Inc. *		8,363		327,913
HCA Holdings, Inc. *		53,978		3,761,727
Henry Schein, Inc. *		15,266		2,094,495
Hologic, Inc. *		39,072		1,047,130
Humana, Inc.		28,656		3,953,668
IDEXX Laboratories, Inc. *		9,194		1,373,124
IMS Health Holdings, Inc. *		12,016		300,400
Intuitive Surgical, Inc. *		6,687		3,462,328
Laboratory Corp. of America Holdings *		15,649		1,637,511
McKesson Corp.		41,818		8,813,562
MEDNAX, Inc. *		18,648		1,220,698
Medtronic, Inc.		177,325		13,098,998
Omnicare, Inc.		18,301		1,286,926
Patterson Cos., Inc.		15,517		747,609
Premier, Inc., Class A *		4,964		168,875
Quest Diagnostics, Inc.		27,002		1,763,501
ResMed, Inc. (a)		24,602		1,308,826
Sirona Dental Systems, Inc. *		10,674		922,127
St. Jude Medical, Inc.		51,949		3,530,454
Stryker Corp.		55,341		5,141,732
Tenet Healthcare Corp. *		19,863		954,417
The Cooper Cos., Inc.		8,281		1,398,661
UnitedHealth Group, Inc.		175,706		17,329,883
Universal Health Services, Inc., Class B		16,877		1,765,672
Varian Medical Systems, Inc. *		19,334		1,711,252
WellPoint, Inc.		48,516		6,205,682
Zimmer Holdings, Inc.		30,510		3,425,968
				170,739,789
Household & Personal Products 2.0%
Avon Products, Inc.		79,298		775,534
Church & Dwight Co., Inc.		24,270		1,861,752
Colgate-Palmolive Co.		154,592		10,758,057
Coty, Inc., Class A *		12,316		249,276
Energizer Holdings, Inc.		11,084		1,441,142
Herbalife Ltd. (a)		15,066		651,605
Kimberly-Clark Corp.		67,192		7,833,915
The Clorox Co.		24,486		2,488,267
The Estee Lauder Cos., Inc., Class A		40,708		3,018,091
The Procter & Gamble Co.		492,386		44,526,466
				73,604,105
Insurance 3.0%
ACE Ltd.		61,278		7,006,527
Aflac, Inc.		81,682		4,878,866
Alleghany Corp. *		3,067		1,400,208
American Financial Group, Inc.		12,295		742,495
American International Group, Inc.		258,408		14,160,758
Aon plc		54,146		5,007,964
Arch Capital Group Ltd. *		24,451		1,401,531
Arthur J. Gallagher & Co.		27,462		1,316,803
Axis Capital Holdings Ltd.		17,968		899,298
Brown & Brown, Inc.		22,597		727,623
Cincinnati Financial Corp.		28,379		1,445,910
CNA Financial Corp.		6,108		236,502
Erie Indemnity Co., Class A		4,521		394,367
Everest Re Group Ltd.		8,229		1,443,284
FNF Group		49,365		1,599,426
Genworth Financial, Inc., Class A *		87,116		791,884
HCC Insurance Holdings, Inc.		18,542		984,024
Lincoln National Corp.		46,408		2,628,085
Loews Corp.		53,992		2,248,227
Markel Corp. *		2,447		1,705,021
Marsh & McLennan Cos., Inc.		99,735		5,644,004
MetLife, Inc.		204,130		11,351,669
PartnerRe Ltd.		8,161		950,838
Principal Financial Group, Inc.		49,436		2,633,456
Prudential Financial, Inc.		83,821		7,123,109
Reinsurance Group of America, Inc.		12,204		1,046,127
RenaissanceRe Holdings Ltd.		7,996		782,968
The Allstate Corp.		77,599		5,288,372
The Chubb Corp.		43,668		4,499,987
The Hartford Financial Services Group, Inc.		81,748		3,376,192
The Progressive Corp.		101,109		2,754,209
The Travelers Cos., Inc.		60,988		6,370,197
Torchmark Corp.		23,254		1,249,903
Unum Group		45,466		1,510,381
W.R. Berkley Corp.		19,576		1,022,650
Willis Group Holdings plc		31,896		1,362,278
XL Group plc		51,100		1,815,072
				109,800,215
Materials 3.3%
Air Products & Chemicals, Inc.		34,633		4,981,264
Airgas, Inc.		12,471		1,442,022
Albemarle Corp.		14,153		835,593
Alcoa, Inc.		211,782		3,661,711
Ashland, Inc.		12,537		1,429,845
Avery Dennison Corp.		17,084		845,829
Ball Corp.		25,677		1,722,156
Celanese Corp., Series A		28,206		1,694,334
CF Industries Holdings, Inc.		9,411		2,523,560
Crown Holdings, Inc. *		25,248		1,249,776
E.I. du Pont de Nemours & Co.		164,460		11,742,444
Eastman Chemical Co.		28,488		2,362,225
Ecolab, Inc.		49,357		5,377,445
FMC Corp.		24,123		1,312,291
Freeport-McMoRan, Inc.		187,397		5,031,609

4 

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Huntsman Corp.		34,202		872,835
International Flavors & Fragrances, Inc.		14,840		1,501,363
International Paper Co.		80,325		4,323,092
LyondellBasell Industries N.V., Class A		76,934		6,067,015
Martin Marietta Materials, Inc.		10,903		1,308,796
MeadWestvaco Corp.		31,318		1,403,046
Monsanto Co.		87,894		10,539,370
Newmont Mining Corp.		90,817		1,671,033
Nucor Corp.		58,452		3,134,781
Owens-Illinois, Inc. *		31,544		808,788
Packaging Corp. of America		16,931		1,257,635
PPG Industries, Inc.		24,748		5,415,357
Praxair, Inc.		53,337		6,847,404
Reliance Steel & Aluminum Co.		13,901		888,830
Rock-Tenn Co., Class A		24,916		1,415,478
Rockwood Holdings, Inc.		13,614		1,061,211
Royal Gold, Inc.		10,830		689,654
RPM International, Inc.		22,957		1,095,049
Sealed Air Corp.		35,651		1,409,284
Sigma-Aldrich Corp.		21,090		2,880,894
The Dow Chemical Co.		203,170		9,888,284
The Mosaic Co.		55,018		2,518,174
The Sherwin-Williams Co.		15,367		3,762,764
The Valspar Corp.		14,882		1,248,749
Vulcan Materials Co.		22,622		1,495,314
W.R. Grace & Co. *		13,613		1,307,801
Westlake Chemical Corp.		7,554		480,434
				121,504,539
Media 3.7%
AMC Networks, Inc., Class A *		11,100		719,946
Cablevision Systems Corp., Class A		40,980		832,714
CBS Corp., Class B Non-Voting Shares		87,742		4,815,281
Charter Communications, Inc., Class A *		14,411		2,445,547
Comcast Corp., Class A		470,869		26,858,368
DIRECTV *		90,937		7,976,084
Discovery Communications, Inc., Class A *		26,797		935,215
Discovery Communications, Inc., Class C *		49,407		1,680,332
DISH Network Corp., Class A *		37,504		2,978,193
Gannett Co., Inc.		42,205		1,373,773
Lamar Advertising Co., Class A		14,383		766,470
Liberty Broadband Corp., Class A *		4,553		249,687
Liberty Broadband Corp., Class C *		9,143		497,379
Liberty Global plc, Class A *		38,762		2,015,236
Liberty Global plc, Series C *		109,481		5,465,292
Liberty Media Corp., Class A *		18,214		669,729
Liberty Media Corp., Class C *		36,428		1,330,715
News Corp., Class A *		89,227		1,384,803
Omnicom Group, Inc.		46,407		3,585,869
Scripps Networks Interactive, Inc., Class A		19,514		1,525,409
Sirius XM Holdings, Inc. *		465,437		1,689,536
The Interpublic Group of Cos., Inc.		75,731		1,536,582
The Madison Square Garden Co., Class A *		10,485		765,824
The Walt Disney Co.		285,951		26,453,327
Time Warner Cable, Inc.		50,603		7,554,016
Time Warner, Inc.		154,819		13,178,193
Twenty-First Century Fox, Inc., Class A		342,743		12,612,942
Viacom, Inc., Class B		67,830		5,129,983
				137,026,445
Pharmaceuticals, Biotechnology & Life Sciences 9.5%
AbbVie, Inc.		289,448		20,029,802
Actavis plc *		47,842		12,946,524
Agilent Technologies, Inc.		61,898		2,645,520
Alexion Pharmaceuticals, Inc. *		35,822		6,981,708
Allergan, Inc.		54,120		11,575,727
Amgen, Inc.		137,735		22,768,973
Biogen Idec, Inc. *		43,162		13,280,516
BioMarin Pharmaceutical, Inc. *		25,645		2,300,869
Bristol-Myers Squibb Co.		302,027		17,834,694
Celgene Corp. *		145,589		16,552,013
Covance, Inc. *		10,388		1,066,017
Eli Lilly & Co.		178,763		12,177,335
Endo International plc *		27,649		2,023,077
Gilead Sciences, Inc. *		273,721		27,459,691
Hospira, Inc. *		31,227		1,862,378
Illumina, Inc. *		24,599		4,695,703
Incyte Corp. *		27,443		2,073,319
Jazz Pharmaceuticals plc *		10,838		1,919,301
Johnson & Johnson		510,761		55,289,878
Mallinckrodt plc *		20,342		1,875,939
Medivation, Inc. *		14,538		1,684,809
Merck & Co., Inc.		522,380		31,551,752
Mettler-Toledo International, Inc. *		5,062		1,484,482
Mylan, Inc. *		68,379		4,007,693
PerkinElmer, Inc.		20,780		944,867
Perrigo Co., plc		23,948		3,836,230
Pfizer, Inc.		1,147,218		35,735,841
Pharmacyclics, Inc. *		11,922		1,661,808
Puma Biotechnology, Inc. *		3,568		810,007
Quintiles Transnational Holdings, Inc. *		12,030		695,575
Regeneron Pharmaceuticals, Inc. *		13,375		5,565,471
Salix Pharmaceuticals Ltd. *		11,438		1,174,568
Seattle Genetics, Inc. *		19,684		717,285
Thermo Fisher Scientific, Inc.		72,809		9,413,476
Vertex Pharmaceuticals, Inc. *		43,766		5,159,136
Waters Corp. *		15,191		1,760,637
Zoetis, Inc.		89,990		4,043,251
				347,605,872
Real Estate 3.0%
Alexandria Real Estate Equities, Inc.		12,478		1,072,110
American Campus Communities, Inc.		18,188		727,520
American Capital Agency Corp.		70,044		1,616,265
American Realty Capital Properties, Inc.		164,240		1,543,856
American Tower Corp.		70,939		7,449,304
Annaly Capital Management, Inc.		169,629		1,954,126
Apartment Investment & Management Co., Class A		25,662		955,909

5

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
AvalonBay Communities, Inc.		23,781		3,823,747
Boston Properties, Inc.		27,291		3,538,005
Brixmor Property Group, Inc.		11,892		287,549
Camden Property Trust		14,840		1,137,931
CBRE Group, Inc., Class A *		49,515		1,670,636
Corrections Corp. of America		19,667		712,929
Crown Castle International Corp.		61,323		5,095,328
DDR Corp.		55,537		1,017,993
Digital Realty Trust, Inc.		25,411		1,785,631
Duke Realty Corp.		56,996		1,108,002
Equity Residential		65,469		4,637,824
Essex Property Trust, Inc.		10,949		2,216,187
Extra Space Storage, Inc.		19,580		1,160,507
Federal Realty Investment Trust		11,872		1,574,939
General Growth Properties, Inc.		113,570		3,039,133
HCP, Inc.		82,090		3,677,632
Health Care REIT, Inc.		58,624		4,318,244
Host Hotels & Resorts, Inc.		141,846		3,296,501
Iron Mountain, Inc.		30,590		1,162,726
Jones Lang LaSalle, Inc.		7,610		1,108,473
Kilroy Realty Corp.		14,191		974,638
Kimco Realty Corp.		72,759		1,851,717
Liberty Property Trust		25,498		902,119
National Retail Properties, Inc.		22,399		863,033
Plum Creek Timber Co., Inc.		32,915		1,371,897
Prologis, Inc.		92,182		3,897,455
Public Storage		27,293		5,120,986
Rayonier, Inc.		22,260		607,253
Realogy Holdings Corp. *		25,852		1,189,709
Realty Income Corp.		40,872		1,898,913
Regency Centers Corp.		16,324		1,003,600
Senior Housing Properties Trust		39,508		890,115
Simon Property Group, Inc.		58,448		10,567,398
SL Green Realty Corp.		16,984		1,972,522
Taubman Centers, Inc.		10,902		866,600
The Macerich Co.		25,357		2,005,232
UDR, Inc.		44,694		1,375,681
Ventas, Inc.		54,431		3,894,538
Vornado Realty Trust		31,219		3,482,792
Weingarten Realty Investors		19,648		715,187
Weyerhaeuser Co.		95,651		3,377,437
WP Carey, Inc.		16,713		1,138,824
				111,656,653
Retailing 4.4%
Advance Auto Parts, Inc.		13,373		1,966,901
Amazon.com, Inc. *		68,591		23,227,656
AutoNation, Inc. *		14,077		836,737
AutoZone, Inc. *		5,992		3,461,638
Bed Bath & Beyond, Inc. *		35,099		2,575,214
Best Buy Co., Inc.		54,269		2,138,741
CarMax, Inc. *		40,523		2,309,001
Dick’s Sporting Goods, Inc.		18,093		915,687
Dillard’s, Inc., Class A		3,779		445,469
Dollar General Corp. *		55,419		3,698,664
Dollar Tree, Inc. *		38,722		2,647,036
Expedia, Inc.		19,295		1,680,788
Family Dollar Stores, Inc.		16,708		1,320,767
Foot Locker, Inc.		25,886		1,483,009
GameStop Corp., Class A (a)		20,878		789,397
Genuine Parts Co.		27,190		2,794,588
Groupon, Inc. *		66,214		498,591
Kohl’s Corp.		35,953		2,143,518
L Brands, Inc.		43,488		3,518,179
Liberty Interactive Corp., Class A *		86,649		2,525,818
LKQ Corp. *		53,424		1,551,967
Lowe’s Cos., Inc.		178,688		11,405,655
Macy’s, Inc.		62,587		4,062,522
Netflix, Inc. *		10,786		3,738,320
Nordstrom, Inc.		25,911		1,978,564
O’Reilly Automotive, Inc. *		19,427		3,550,090
PetSmart, Inc.		18,205		1,433,826
Ross Stores, Inc.		38,809		3,550,247
Sally Beauty Holdings, Inc. *		27,238		862,083
Signet Jewelers Ltd.		14,873		1,947,768
Staples, Inc.		116,275		1,634,827
Target Corp.		115,793		8,568,682
The Gap, Inc.		49,347		1,954,141
The Home Depot, Inc.		243,763		24,230,042
The Priceline Group, Inc. *		9,406		10,912,747
The TJX Cos., Inc.		126,445		8,365,601
Tiffany & Co.		19,596		2,114,800
Tractor Supply Co.		25,393		1,953,484
TripAdvisor, Inc. *		20,015		1,474,105
Ulta Salon, Cosmetics & Fragrance, Inc. *		11,057		1,398,600
Urban Outfitters, Inc. *		19,379		626,329
Williams-Sonoma, Inc.		16,367		1,220,324
				159,512,123
Semiconductors & Semiconductor Equipment 2.4%
Altera Corp.		57,978		2,181,132
Analog Devices, Inc.		58,029		3,170,705
Applied Materials, Inc.		223,285		5,370,004
Avago Technologies Ltd.		44,663		4,171,524
Broadcom Corp., Class A		99,498		4,291,349
Cree, Inc. *(a)		22,669		823,791
First Solar, Inc. *		13,606		663,973
Freescale Semiconductor Ltd. *		17,202		373,111
Intel Corp.		896,591		33,398,015
KLA-Tencor Corp.		29,717		2,063,548
Lam Research Corp.		29,793		2,462,094
Linear Technology Corp.		43,937		2,022,420
Marvell Technology Group Ltd.		74,994		1,073,914
Maxim Integrated Products, Inc.		52,264		1,545,446
Microchip Technology, Inc.		35,908		1,621,246
Micron Technology, Inc. *		192,221		6,910,345
NVIDIA Corp.		86,271		1,809,103
Skyworks Solutions, Inc.		35,616		2,403,012
Texas Instruments, Inc.		191,992		10,448,205
Xilinx, Inc.		47,532		2,159,854
				88,962,791
Software & Services 10.4%
Accenture plc, Class A		112,913		9,747,779
Activision Blizzard, Inc.		91,174		1,973,917
Adobe Systems, Inc. *		87,250		6,428,580
Akamai Technologies, Inc. *		31,317		2,023,391
Alliance Data Systems Corp. *		10,440		2,984,483
Amdocs Ltd.		28,564		1,392,352
ANSYS, Inc. *		16,334		1,364,216

6 

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Autodesk, Inc. *		42,065		2,608,030
Automatic Data Processing, Inc.		88,234		7,556,360
CA, Inc.		58,555		1,823,988
Cadence Design Systems, Inc. *		50,477		952,501
CDK Global, Inc.		29,332		1,116,669
Citrix Systems, Inc. *		28,780		1,908,402
Cognizant Technology Solutions Corp., Class A *		109,028		5,886,422
Computer Sciences Corp.		25,892		1,641,035
Concur Technologies, Inc. *		8,071		1,039,626
eBay, Inc. *		206,395		11,326,958
Electronic Arts, Inc. *		59,604		2,618,404
Equinix, Inc.		9,817		2,230,128
Facebook, Inc., Class A *		377,612		29,340,452
FactSet Research Systems, Inc.		7,490		1,026,579
Fidelity National Information Services, Inc.		52,296		3,199,992
FireEye, Inc. *(a)		5,223		158,205
Fiserv, Inc. *		46,338		3,312,704
FleetCor Technologies, Inc. *		13,728		2,085,146
Gartner, Inc. *		16,462		1,407,172
Global Payments, Inc.		13,736		1,186,241
Google, Inc., Class A *		51,513		28,284,758
Google, Inc., Class C *		51,513		27,911,289
IAC/InterActiveCorp		13,756		897,992
International Business Machines Corp.		167,999		27,244,398
Intuit, Inc.		52,393		4,918,131
Jack Henry & Associates, Inc.		15,128		929,767
LinkedIn Corp., Class A *		18,279		4,135,989
MasterCard, Inc., Class A		178,204		15,555,427
Microsoft Corp.		1,492,780		71,369,812
NetSuite, Inc. *		7,750		819,562
Nuance Communications, Inc. *		46,078		697,160
Oracle Corp.		588,874		24,974,146
Paychex, Inc.		57,876		2,743,901
Rackspace Hosting, Inc. *		20,095		922,561
Red Hat, Inc. *		34,174		2,123,914
Sabre Corp.		13,508		253,140
salesforce.com, Inc. *		103,327		6,186,187
ServiceNow, Inc. *		23,363		1,494,297
Solera Holdings, Inc.		11,919		627,774
Symantec Corp.		126,166		3,291,671
Synopsys, Inc. *		28,388		1,231,755
Teradata Corp. *		28,894		1,304,275
The Western Union Co.		99,806		1,854,395
Total System Services, Inc.		30,426		1,003,754
Twitter, Inc. *		90,078		3,759,856
Vantiv, Inc., Class A *		25,510		860,707
VeriSign, Inc. *		18,936		1,138,054
Visa, Inc., Class A		89,183		23,026,159
VMware, Inc., Class A *		15,058		1,324,502
Workday, Inc., Class A *		16,935		1,474,192
Xerox Corp.		187,687		2,620,111
Yahoo! Inc. *		170,027		8,797,197
				382,116,565
Technology Hardware & Equipment 6.7%
3D Systems Corp. *(a)		21,184		747,372
Amphenol Corp., Class A		56,532		3,031,811
Apple, Inc.		1,085,001		129,039,169
Arrow Electronics, Inc. *		17,914		1,046,894
Avnet, Inc.		25,228		1,104,734
Cisco Systems, Inc.		923,413		25,523,135
Corning, Inc.		238,014		5,003,054
EMC Corp.		368,873		11,195,296
F5 Networks, Inc. *		13,598		1,756,726
FLIR Systems, Inc.		25,915		822,283
Harris Corp.		18,693		1,339,727
Hewlett-Packard Co.		339,324		13,253,995
Jabil Circuit, Inc.		34,132		708,239
Juniper Networks, Inc.		72,734		1,611,785
Keysight Technologies, Inc. *		30,920		1,088,384
Motorola Solutions, Inc.		42,172		2,771,544
National Instruments Corp.		16,663		536,382
NCR Corp. *		29,824		884,282
NetApp, Inc.		61,024		2,596,571
QUALCOMM, Inc.		303,113		22,096,938
SanDisk Corp.		41,779		4,322,455
Seagate Technology plc		60,192		3,979,293
TE Connectivity Ltd.		75,088		4,820,650
Trimble Navigation Ltd. *		45,446		1,278,169
Western Digital Corp.		39,769		4,106,945
				244,665,833
Telecommunication Services 2.3%
AT&T, Inc.		943,013		33,363,800
CenturyLink, Inc.		102,937		4,196,742
Frontier Communications Corp.		193,708		1,365,641
Level 3 Communications, Inc. *		51,212		2,560,600
SBA Communications Corp., Class A *		24,097		2,931,882
Sprint Corp. *		150,100		768,512
T-Mobile US, Inc. *		45,371		1,324,380
Verizon Communications, Inc.		753,712		38,130,290
Windstream Holdings, Inc. (a)		111,339		1,125,637
				85,767,484
Transportation 2.4%
American Airlines Group, Inc.		130,158		6,316,568
Avis Budget Group, Inc. *		18,708		1,125,286
C.H. Robinson Worldwide, Inc.		24,260		1,788,932
CSX Corp.		181,685		6,629,686
Delta Air Lines, Inc.		154,880		7,228,250
Expeditors International of Washington, Inc.		37,496		1,755,563
FedEx Corp.		48,061		8,563,509
Genesee & Wyoming, Inc., Class A *		9,094		896,577
Hertz Global Holdings, Inc. *		80,679		1,915,319
J.B. Hunt Transport Services, Inc.		16,449		1,357,536
Kansas City Southern		19,453		2,313,740
Kirby Corp. *		10,515		1,010,912
Norfolk Southern Corp.		56,982		6,361,471
Southwest Airlines Co.		126,634		5,295,834
Union Pacific Corp.		162,495		18,974,541
United Continental Holdings, Inc. *		67,262		4,118,452
United Parcel Service, Inc., Class B		127,864		14,054,811
				89,706,987

7

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Utilities 3.2%
AES Corp.		118,089		1,637,894
AGL Resources, Inc.		21,701		1,135,179
Alliant Energy Corp.		20,829		1,309,519
Ameren Corp.		44,785		1,930,681
American Electric Power Co., Inc.		90,153		5,188,305
American Water Works Co., Inc.		31,677		1,680,465
Aqua America, Inc.		31,392		834,399
Calpine Corp. *		65,398		1,501,538
CenterPoint Energy, Inc.		78,860		1,887,908
CMS Energy Corp.		49,072		1,624,283
Consolidated Edison, Inc.		52,145		3,292,957
Dominion Resources, Inc.		106,074		7,695,669
DTE Energy Co.		32,140		2,618,124
Duke Energy Corp.		129,324		10,462,312
Edison International		59,582		3,787,032
Entergy Corp.		33,205		2,785,900
Exelon Corp.		154,598		5,591,810
FirstEnergy Corp.		74,584		2,750,658
Integrys Energy Group, Inc.		14,193		1,033,818
ITC Holdings Corp.		28,384		1,078,308
MDU Resources Group, Inc.		33,153		812,912
National Fuel Gas Co.		14,882		1,030,876
NextEra Energy, Inc.		79,093		8,256,518
NiSource, Inc.		57,116		2,389,733
Northeast Utilities		56,468		2,859,540
NRG Energy, Inc.		65,903		2,060,128
OGE Energy Corp.		35,640		1,271,992
Pepco Holdings, Inc.		44,575		1,225,813
PG&E Corp.		83,655		4,224,578
Pinnacle West Capital Corp.		19,502		1,233,112
PPL Corp.		121,125		4,303,571
Public Service Enterprise Group, Inc.		90,780		3,792,788
SCANA Corp.		25,755		1,468,808
Sempra Energy		42,411		4,738,581
TECO Energy, Inc.		42,979		852,274
The Southern Co.		163,696		7,764,101
UGI Corp.		33,909		1,278,708
Westar Energy, Inc.		29,746		1,162,771
Wisconsin Energy Corp.		41,230		2,036,762
Xcel Energy, Inc.		89,281		3,030,197
				115,620,522
Total Common Stock
(Cost $2,858,830,825)				3,658,331,606
Other Investment Companies 0.3% of net assets
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (c)		4,343,525		4,343,525
Securities Lending Collateral 0.2%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (c)		6,496,648		6,496,648
Total Other Investment Companies
(Cost $10,840,173)				10,840,173
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.01%, 12/18/14 (d)(e)		279,000		278,998
Total Short-Term Investment
(Cost $278,998)				278,998
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $2,870,667,666 and the unrealized appreciation and depreciation were $833,293,424 and ($34,510,313), respectively, with a net unrealized appreciation of $798,783,111.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $7,701,214. Non-Cash Collateral pledged to the fund for securities on loan amounted to $1,608,784.
(b)	Issuer is affiliated with the fund’s adviser.
(c)	The rate shown is the 7-day yield.
(d)	The rate shown is the purchase yield.
(e)	All or a portion of this security is held as collateral for open futures contracts.

REIT — Real Estate Investment Trust

In addition to the above, the fund held the following at 11/30/14:

			Contract		Unrealized
	Number of		Value		Appreciation
	Contracts		($)		($)
Futures Contracts
S&P 500 Index, e-mini, Long, expires 12/19/14		30		3,099,450		72,393

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

8 

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

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.

•  Futures contracts (“futures”): 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 may be valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”).

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 futures. Investments in mutual funds are valued daily at their NAVs, which are classified as Level 1 prices, without consideration to the classification level of the specific investments held by the underlying fund.

•  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

9

 Schwab U.S. Large-Cap ETF

Portfolio Holdings (Unaudited) continued

that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

•  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$3,658,331,606		$—		$—		$3,658,331,606
Other Investment Companies1		10,840,173		—		—		10,840,173
Short-Term Investment1		—		278,998		—		278,998
Total		$3,669,171,779		$278,998		$—		$3,669,450,777
Other Financial Instruments
Futures Contracts2		$72,393		$—		$—		$72,393

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 fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2014.

REG54092NOV14

10 

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

Portfolio Holdings as of November 30, 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		1,318,338,790		1,742,937,692
	0	.2%	Other Investment Companies		2,964,067		3,003,619
	0	.0%	Short-Term Investment		100,000		100,000
	100	.1%	Total Investments		1,321,402,857		1,746,041,311
	(0	.1)%	Other Assets and Liabilities, Net				(907,778	)
	100	.0%	Net Assets				1,745,133,533

	Number		Value
Security	of Shares		($)
Common Stock 99.9% of net assets
Automobiles & Components 0.5%
BorgWarner, Inc.		40,712		2,302,671
Lear Corp.		15,143		1,452,365
Tesla Motors, Inc. *		17,070		4,173,957
The Goodyear Tire & Rubber Co.		49,118		1,346,324
				9,275,317
Banks 0.2%
CIT Group, Inc.		33,040		1,612,352
Zions Bancorp		36,164		1,014,762
				2,627,114
Capital Goods 7.2%
3M Co.		116,872		18,710,038
AMETEK, Inc.		43,664		2,225,117
B/E Aerospace, Inc. *		19,440		1,513,793
Carlisle Cos., Inc.		11,422		1,021,127
Caterpillar, Inc.		112,001		11,267,301
Chicago Bridge & Iron Co. N.V.		17,110		856,013
Colfax Corp. *		16,148		832,106
Cummins, Inc.		30,419		4,429,615
Danaher Corp.		108,726		9,085,145
Deere & Co.		63,845		5,530,254
Donaldson Co., Inc.		22,404		873,756
Dover Corp.		29,718		2,287,989
Fastenal Co.		48,648		2,198,890
Flowserve Corp.		24,388		1,435,722
Fluor Corp.		27,994		1,735,348
Fortune Brands Home & Security, Inc.		28,186		1,266,115
IDEX Corp.		14,286		1,097,308
Illinois Tool Works, Inc.		65,075		6,177,570
Jacobs Engineering Group, Inc. *		24,915		1,157,302
Lincoln Electric Holdings, Inc.		14,134		1,018,213
MSC Industrial Direct Co., Inc., Class A		9,071		704,545
Nordson Corp.		9,906		774,154
PACCAR, Inc.		63,242		4,238,479
Pall Corp.		19,048		1,830,703
Pentair plc		34,312		2,220,329
Precision Castparts Corp.		25,583		6,086,196
Quanta Services, Inc. *		37,818		1,153,449
Roper Industries, Inc.		17,826		2,813,299
Sensata Technologies Holding N.V. *		29,898		1,482,044
Snap-on, Inc.		10,962		1,483,487
SolarCity Corp. *(a)		8,758		481,690
SPX Corp.		7,107		637,427
Stanley Black & Decker, Inc.		27,852		2,630,343
The Boeing Co.		119,511		16,057,498
TransDigm Group, Inc.		8,538		1,688,731
United Rentals, Inc. *		17,075		1,934,768
W.W. Grainger, Inc.		10,801		2,653,590
WABCO Holdings, Inc. *		9,878		1,013,680
Wabtec Corp.		16,601		1,469,022
				126,072,156
Commercial & Professional Services 0.9%
Copart, Inc. *		21,125		767,683
Equifax, Inc.		21,170		1,684,073
IHS, Inc., Class A *		12,345		1,511,769
Manpowergroup, Inc.		14,186		948,476
Nielsen N.V.		54,285		2,267,484
Robert Half International, Inc.		23,681		1,344,844
Rollins, Inc.		12,103		393,711
Stericycle, Inc. *		14,998		1,933,542
The Dun & Bradstreet Corp.		6,393		811,591
Towers Watson & Co., Class A		13,029		1,471,756
Verisk Analytics, Inc., Class A *		26,141		1,620,219
Waste Connections, Inc.		23,284		1,099,238
				15,854,386
Consumer Durables & Apparel 2.4%
Carter’s, Inc.		9,855		820,035
D.R. Horton, Inc.		61,454		1,566,462
Fossil Group, Inc. *		7,930		885,940
Hanesbrands, Inc.		18,486		2,139,200
Harman International Industries, Inc.		12,088		1,311,911
Jarden Corp. *		31,761		1,402,248
Lennar Corp., Class A		31,702		1,497,602
lululemon athletica, Inc. *		17,544		845,445
Michael Kors Holdings Ltd. *		37,697		2,891,737
Mohawk Industries, Inc. *		11,464		1,760,756
NIKE, Inc., Class B		125,399		12,450,867
NVR, Inc. *		681		857,154
Polaris Industries, Inc.		10,821		1,695,759
PVH Corp.		14,314		1,819,882
Ralph Lauren Corp.		10,595		1,959,015

1

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Toll Brothers, Inc. *		27,062		946,899
Under Armour, Inc., Class A *		30,318		2,197,752
VF Corp.		61,471		4,620,775
				41,669,439
Consumer Services 2.3%
Burger King Worldwide, Inc.		11,504		418,055
Chipotle Mexican Grill, Inc. *		5,528		3,668,491
Dunkin’ Brands Group, Inc.		19,925		963,374
Extended Stay America, Inc.		10,307		191,710
Hilton Worldwide Holdings, Inc. *		68,666		1,800,423
Hyatt Hotels Corp., Class A *		10,627		626,249
Las Vegas Sands Corp.		66,063		4,207,552
Marriott International, Inc., Class A		38,912		3,065,877
Norwegian Cruise Line Holdings Ltd. *		17,538		769,743
Royal Caribbean Cruises Ltd.		29,704		2,190,373
Starbucks Corp.		133,987		10,881,084
Starwood Hotels & Resorts Worldwide, Inc.		33,899		2,678,021
Wynn Resorts Ltd.		14,438		2,578,771
Yum! Brands, Inc.		78,399		6,056,323
				40,096,046
Diversified Financials 6.9%
Affiliated Managers Group, Inc. *		9,874		2,010,248
Ally Financial, Inc. *		18,324		435,745
American Express Co.		160,475		14,831,100
Ameriprise Financial, Inc.		34,204		4,507,061
Berkshire Hathaway, Inc., Class B *		326,350		48,524,982
BlackRock, Inc.		22,429		8,053,805
Franklin Resources, Inc.		70,313		3,997,997
Intercontinental Exchange, Inc.		20,251		4,576,523
Leucadia National Corp.		59,889		1,385,233
LPL Financial Holdings, Inc.		13,483		575,320
McGraw Hill Financial, Inc.		48,276		4,511,875
Moody’s Corp.		33,131		3,346,562
Morgan Stanley		275,308		9,685,335
MSCI, Inc.		19,904		962,557
Raymond James Financial, Inc.		23,798		1,339,827
SEI Investments Co.		23,314		923,934
T. Rowe Price Group, Inc.		46,952		3,919,083
TD Ameritrade Holding Corp.		51,282		1,774,870
The Charles Schwab Corp. (b)		204,478		5,790,817
				121,152,874
Energy 5.7%
Anadarko Petroleum Corp.		90,216		7,140,596
Antero Resources Corp. *		9,787		459,206
Baker Hughes, Inc.		77,640		4,425,480
Cabot Oil & Gas Corp.		74,441		2,459,531
Cameron International Corp. *		36,191		1,855,874
Cheniere Energy, Inc. *		39,512		2,607,397
Cimarex Energy Co.		15,518		1,628,614
Concho Resources, Inc. *		20,177		1,921,859
Continental Resources, Inc. *		15,844		649,287
Core Laboratories N.V.		7,646		985,034
Denbury Resources, Inc.		62,481		516,093
Devon Energy Corp.		71,366		4,208,453
Dresser-Rand Group, Inc. *		14,388		1,167,011
EOG Resources, Inc.		97,592		8,463,178
EQT Corp.		27,015		2,457,825
FMC Technologies, Inc. *		41,876		2,000,416
Halliburton Co.		151,700		6,401,740
Hess Corp.		46,601		3,398,611
HollyFrontier Corp.		34,679		1,415,597
Nabors Industries Ltd.		51,582		676,756
National Oilwell Varco, Inc.		76,652		5,138,750
Noble Energy, Inc.		64,231		3,158,881
Oasis Petroleum, Inc. *		18,536		340,692
Oceaneering International, Inc.		19,324		1,211,808
ONEOK, Inc.		37,037		2,005,924
Peabody Energy Corp.		52,005		525,770
Pioneer Natural Resources Co.		25,505		3,653,081
Range Resources Corp.		29,978		1,968,056
Schlumberger Ltd.		232,541		19,986,899
SM Energy Co.		11,206		486,901
Southwestern Energy Co. *		63,020		2,027,984
Superior Energy Services, Inc.		27,595		532,859
Tesoro Corp.		22,858		1,751,380
Weatherford International plc *		137,947		1,807,106
Whiting Petroleum Corp. *		21,063		879,801
				100,314,450
Food & Staples Retailing 2.5%
Costco Wholesale Corp.		78,121		11,102,557
CVS Health Corp.		207,790		18,983,694
Walgreen Co.		156,950		10,768,339
Whole Foods Market, Inc.		64,435		3,159,248
				44,013,838
Food, Beverage & Tobacco 2.6%
Brown-Forman Corp., Class B		28,201		2,736,907
Constellation Brands, Inc., Class A *		31,215		3,009,126
Keurig Green Mountain, Inc.		21,650		3,077,331
Mead Johnson Nutrition Co.		36,043		3,742,705
Monster Beverage Corp. *		26,368		2,957,171
PepsiCo, Inc.		269,918		27,018,792
The Hershey Co.		26,606		2,668,050
				45,210,082
Health Care Equipment & Services 6.9%
Aetna, Inc.		63,218		5,515,138
AmerisourceBergen Corp.		37,988		3,458,807
Becton Dickinson & Co.		34,226		4,802,935
C.R. Bard, Inc.		13,217		2,211,865
CareFusion Corp. *		36,136		2,138,167
Cerner Corp. *		53,704		3,458,538
Cigna Corp.		47,986		4,937,280
Community Health Systems, Inc. *		19,742		929,453
Covidien plc		80,584		8,138,984
DaVita HealthCare Partners, Inc. *		30,563		2,338,986
DENTSPLY International, Inc.		28,968		1,592,661
Edwards Lifesciences Corp. *		18,816		2,440,059
Envision Healthcare Holdings, Inc. *		23,051		815,083
Express Scripts Holding Co. *		132,936		11,053,628
HCA Holdings, Inc. *		53,969		3,761,100
Henry Schein, Inc. *		15,064		2,066,781

2 

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Hologic, Inc. *		43,082		1,154,598
IDEXX Laboratories, Inc. *		8,817		1,316,819
Intuitive Surgical, Inc. *		6,347		3,286,286
Laboratory Corp. of America Holdings *		15,074		1,577,343
McKesson Corp.		41,248		8,693,429
MEDNAX, Inc. *		19,011		1,244,460
Medtronic, Inc.		174,659		12,902,060
Premier, Inc., Class A *		5,377		182,926
ResMed, Inc. (a)		25,224		1,341,917
Sirona Dental Systems, Inc. *		11,603		1,002,383
Stryker Corp.		53,264		4,948,758
Tenet Healthcare Corp. *		17,416		836,839
The Cooper Cos., Inc.		8,530		1,440,717
UnitedHealth Group, Inc.		173,334		17,095,933
Universal Health Services, Inc., Class B		16,820		1,759,708
Varian Medical Systems, Inc. *		18,379		1,626,725
				120,070,366
Household & Personal Products 1.0%
Church & Dwight Co., Inc.		23,750		1,821,862
Colgate-Palmolive Co.		153,091		10,653,603
Energizer Holdings, Inc.		10,714		1,393,034
Herbalife Ltd. (a)		11,626		502,825
The Estee Lauder Cos., Inc., Class A		40,058		2,969,900
				17,341,224
Insurance 0.5%
Alleghany Corp. *		2,786		1,271,921
Arch Capital Group Ltd. *		26,021		1,491,524
Erie Indemnity Co., Class A		4,553		397,158
Everest Re Group Ltd.		8,054		1,412,591
Markel Corp. *		2,356		1,641,614
PartnerRe Ltd.		9,504		1,107,311
RenaissanceRe Holdings Ltd.		7,037		689,063
W.R. Berkley Corp.		19,864		1,037,695
				9,048,877
Materials 3.2%
Airgas, Inc.		13,073		1,511,631
Ball Corp.		24,643		1,652,806
CF Industries Holdings, Inc.		8,834		2,368,837
Crown Holdings, Inc. *		23,565		1,166,467
Ecolab, Inc.		48,023		5,232,106
FMC Corp.		23,520		1,279,488
LyondellBasell Industries N.V., Class A		75,817		5,978,929
Martin Marietta Materials, Inc.		11,589		1,391,144
Monsanto Co.		86,558		10,379,170
Packaging Corp. of America		19,146		1,422,165
PPG Industries, Inc.		24,492		5,359,339
Praxair, Inc.		52,081		6,686,159
Rock-Tenn Co., Class A		24,550		1,394,685
Royal Gold, Inc.		12,227		778,615
Sigma-Aldrich Corp.		21,156		2,889,910
The Sherwin-Williams Co.		14,851		3,636,416
The Valspar Corp.		13,543		1,136,393
W.R. Grace & Co. *		13,097		1,258,229
				55,522,489
Media 5.5%
AMC Networks, Inc., Class A *		10,973		711,709
Charter Communications, Inc., Class A *		14,304		2,427,389
Comcast Corp., Class A		463,675		26,448,022
DIRECTV *		89,857		7,881,357
Discovery Communications, Inc., Class A *		26,344		919,406
Discovery Communications, Inc., Class C *		48,722		1,657,035
DISH Network Corp., Class A *		37,771		2,999,395
Liberty Broadband Corp., Class A *		4,136		226,818
Liberty Broadband Corp., Class C *		8,874		482,746
Liberty Global plc, Class A *		40,810		2,121,712
Liberty Global plc, Series C *		106,255		5,304,250
Liberty Media Corp., Class A *		16,544		608,323
Liberty Media Corp., Class C *		35,521		1,297,582
Scripps Networks Interactive, Inc., Class A		18,472		1,443,956
Sirius XM Holdings, Inc. *		475,396		1,725,687
The Madison Square Garden Co., Class A *		11,244		821,262
The Walt Disney Co.		282,746		26,156,832
Time Warner Cable, Inc.		49,723		7,422,649
Viacom, Inc., Class B		67,847		5,131,269
				95,787,399
Pharmaceuticals, Biotechnology & Life Sciences 9.5%
Actavis plc *		47,088		12,742,484
Agilent Technologies, Inc.		59,467		2,541,619
Alexion Pharmaceuticals, Inc. *		35,249		6,870,030
Allergan, Inc.		53,358		11,412,743
Amgen, Inc.		136,028		22,486,789
Biogen Idec, Inc. *		42,346		13,029,441
BioMarin Pharmaceutical, Inc. *		26,545		2,381,617
Celgene Corp. *		143,387		16,301,668
Covance, Inc. *		10,115		1,038,001
Endo International plc *		29,093		2,128,735
Gilead Sciences, Inc. *		270,704		27,157,025
Illumina, Inc. *		24,886		4,750,488
Incyte Corp. *		27,618		2,086,540
Jazz Pharmaceuticals plc *		10,756		1,904,780
Mallinckrodt plc *		20,180		1,860,999
Medivation, Inc. *		14,272		1,653,982
Mettler-Toledo International, Inc. *		5,055		1,482,429
Perrigo Co., plc		23,780		3,809,318
Pharmacyclics, Inc. *		10,838		1,510,709
Puma Biotechnology, Inc. *		3,530		801,381
Regeneron Pharmaceuticals, Inc. *		13,117		5,458,115
Salix Pharmaceuticals Ltd. *		11,256		1,155,879
Seattle Genetics, Inc. *		17,811		649,033
Thermo Fisher Scientific, Inc.		71,120		9,195,105
Vertex Pharmaceuticals, Inc. *		42,423		5,000,823
Waters Corp. *		14,724		1,706,512
Zoetis, Inc.		89,370		4,015,394
				165,131,639

3

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Real Estate 3.4%
American Campus Communities, Inc.		19,551		782,040
American Tower Corp.		70,604		7,414,126
AvalonBay Communities, Inc.		24,199		3,890,957
Boston Properties, Inc.		27,272		3,535,542
CBRE Group, Inc., Class A *		48,247		1,627,854
Crown Castle International Corp.		59,568		4,949,505
Digital Realty Trust, Inc.		23,757		1,669,404
Essex Property Trust, Inc.		10,985		2,223,474
Extra Space Storage, Inc.		19,654		1,164,893
Federal Realty Investment Trust		11,808		1,566,449
Host Hotels & Resorts, Inc.		134,983		3,137,005
Jones Lang LaSalle, Inc.		8,250		1,201,695
Public Storage		25,839		4,848,172
Realogy Holdings Corp. *		27,800		1,279,356
Simon Property Group, Inc.		55,852		10,098,042
SL Green Realty Corp.		17,028		1,977,632
Taubman Centers, Inc.		12,095		961,431
Ventas, Inc.		52,426		3,751,080
Vornado Realty Trust		31,136		3,473,532
				59,552,189
Retailing 7.5%
Advance Auto Parts, Inc.		13,018		1,914,687
Amazon.com, Inc. *		67,823		22,967,581
AutoNation, Inc. *		13,879		824,968
AutoZone, Inc. *		5,817		3,360,539
Bed Bath & Beyond, Inc. *		35,997		2,641,100
CarMax, Inc. *		39,117		2,228,887
Dick’s Sporting Goods, Inc.		19,100		966,651
Dollar General Corp. *		54,106		3,611,034
Dollar Tree, Inc. *		36,651		2,505,462
Expedia, Inc.		18,665		1,625,908
Family Dollar Stores, Inc.		16,537		1,307,250
Groupon, Inc. *		73,098		550,428
L Brands, Inc.		45,016		3,641,794
Liberty Interactive Corp., Class A *		88,388		2,576,510
LKQ Corp. *		52,004		1,510,716
Lowe’s Cos., Inc.		176,081		11,239,250
Netflix, Inc. *		10,718		3,714,752
Nordstrom, Inc.		25,332		1,934,352
O’Reilly Automotive, Inc. *		18,460		3,373,380
PetSmart, Inc.		17,723		1,395,864
Ross Stores, Inc.		37,375		3,419,065
Sally Beauty Holdings, Inc. *		22,413		709,371
Signet Jewelers Ltd.		14,286		1,870,895
The Home Depot, Inc.		241,753		24,030,248
The Priceline Group, Inc. *		9,382		10,884,903
The TJX Cos., Inc.		123,523		8,172,282
Tiffany & Co.		19,953		2,153,328
Tractor Supply Co.		24,231		1,864,091
TripAdvisor, Inc. *		19,780		1,456,797
Ulta Salon, Cosmetics & Fragrance, Inc. *		11,055		1,398,347
Urban Outfitters, Inc. *		16,864		545,044
Williams-Sonoma, Inc.		15,618		1,164,478
				131,559,962
Semiconductors & Semiconductor Equipment 1.6%
Altera Corp.		55,077		2,071,997
Avago Technologies Ltd.		45,827		4,280,242
Broadcom Corp., Class A		95,900		4,136,167
Cree, Inc. *(a)		22,673		823,937
First Solar, Inc. *		13,420		654,896
Freescale Semiconductor Ltd. *		18,087		392,307
Lam Research Corp.		28,938		2,391,436
Micron Technology, Inc. *		193,584		6,959,345
NVIDIA Corp.		91,836		1,925,801
Skyworks Solutions, Inc.		33,745		2,276,775
Xilinx, Inc.		47,546		2,160,490
				28,073,393
Software & Services 14.5%
Accenture plc, Class A		112,553		9,716,701
Activision Blizzard, Inc.		88,190		1,909,314
Adobe Systems, Inc. *		84,181		6,202,456
Akamai Technologies, Inc. *		31,725		2,049,752
Alliance Data Systems Corp. *		9,725		2,780,086
ANSYS, Inc. *		15,770		1,317,110
Autodesk, Inc. *		40,464		2,508,768
Automatic Data Processing, Inc.		85,772		7,345,514
CDK Global, Inc.		28,550		1,086,899
Citrix Systems, Inc. *		29,300		1,942,883
Cognizant Technology Solutions Corp., Class A *		108,381		5,851,490
Concur Technologies, Inc. *		8,383		1,079,814
eBay, Inc. *		201,425		11,054,204
Electronic Arts, Inc. *		55,704		2,447,077
Equinix, Inc.		10,539		2,394,145
Facebook, Inc., Class A *		372,972		28,979,924
FactSet Research Systems, Inc.		6,463		885,819
Fidelity National Information Services, Inc.		50,871		3,112,796
FireEye, Inc. *		8,941		270,823
Fiserv, Inc. *		44,469		3,179,089
FleetCor Technologies, Inc. *		13,457		2,043,984
Gartner, Inc. *		15,665		1,339,044
Global Payments, Inc.		11,951		1,032,088
Google, Inc., Class A *		51,121		28,069,519
Google, Inc., Class C *		50,863		27,559,099
IAC/InterActiveCorp		14,461		944,014
Intuit, Inc.		50,607		4,750,479
Jack Henry & Associates, Inc.		17,143		1,053,609
LinkedIn Corp., Class A *		18,452		4,175,134
MasterCard, Inc., Class A		176,487		15,405,550
NetSuite, Inc. *		7,100		750,825
Nuance Communications, Inc. *		44,291		670,123
Oracle Corp.		582,409		24,699,966
Rackspace Hosting, Inc. *		21,442		984,402
Red Hat, Inc. *		33,534		2,084,138
Sabre Corp.		10,607		198,775
salesforce.com, Inc. *		102,697		6,148,469
ServiceNow, Inc. *		23,123		1,478,947
Synopsys, Inc. *		29,292		1,270,980
Teradata Corp. *		27,636		1,247,489
Twitter, Inc. *		88,880		3,709,851
Vantiv, Inc., Class A *		26,885		907,100
VeriSign, Inc. *		20,080		1,206,808

4 

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Visa, Inc., Class A		88,121		22,751,961
VMware, Inc., Class A *		14,737		1,296,267
Workday, Inc., Class A *		16,644		1,448,860
				253,342,145
Technology Hardware & Equipment 10.2%
3D Systems Corp. *(a)		19,585		690,959
Amphenol Corp., Class A		55,905		2,998,185
Apple, Inc.		1,072,736		127,580,493
EMC Corp.		361,809		10,980,903
F5 Networks, Inc. *		13,180		1,702,724
FLIR Systems, Inc.		26,429		838,592
Juniper Networks, Inc.		71,639		1,587,520
Keysight Technologies, Inc. *		29,733		1,046,602
National Instruments Corp.		18,336		590,236
NetApp, Inc.		56,957		2,423,520
QUALCOMM, Inc.		300,206		21,885,018
SanDisk Corp.		39,946		4,132,813
Trimble Navigation Ltd. *		46,361		1,303,903
				177,761,468
Telecommunication Services 0.4%
Level 3 Communications, Inc. *		49,603		2,480,150
SBA Communications Corp., Class A *		23,026		2,801,573
T-Mobile US, Inc. *		47,731		1,393,268
				6,674,991
Transportation 4.3%
American Airlines Group, Inc.		128,472		6,234,746
Avis Budget Group, Inc. *		18,482		1,111,692
C.H. Robinson Worldwide, Inc.		26,241		1,935,011
Delta Air Lines, Inc.		150,302		7,014,594
FedEx Corp.		47,293		8,426,667
Genesee & Wyoming, Inc., Class A *		9,451		931,774
Hertz Global Holdings, Inc. *		79,812		1,894,737
J.B. Hunt Transport Services, Inc.		17,279		1,426,036
Kansas City Southern		19,615		2,333,008
Kirby Corp. *		10,633		1,022,257
Southwest Airlines Co.		122,113		5,106,766
Union Pacific Corp.		160,767		18,772,763
United Continental Holdings, Inc. *		66,634		4,080,000
United Parcel Service, Inc., Class B		126,363		13,889,821
				74,179,872
Utilities 0.2%
Calpine Corp. *		67,370		1,546,815
ITC Holdings Corp.		27,880		1,059,161
				2,605,976
Total Common Stock
(Cost $1,318,338,790)				1,742,937,692
Other Investment Companies 0.2% of net assets
Equity Fund 0.0%
iShares Russell 1000 Growth ETF		3,000		291,150
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (c)		446,303		446,303
Securities Lending Collateral 0.2%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (c)		2,266,166		2,266,166
Total Other Investment Companies
(Cost $2,964,067)				3,003,619
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.00%, 12/18/14 (d)		100,000		100,000
Total Short-Term Investment
(Cost $100,000)				100,000
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $1,321,719,584 and the unrealized appreciation and depreciation were $436,656,857 and ($12,335,130), respectively, with a net unrealized appreciation of $424,321,727.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $2,501,325. Non-Cash Collateral pledged to the fund for securities on loan amounted to $322,853.
(b)	Issuer is affiliated with the fund’s adviser.
(c)	The rate shown is the 7-day yield.
(d)	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

5

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

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 may be 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, without consideration to the classification level of the specific investments held by the underlying fund.

•  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

6 

 Schwab U.S. Large-Cap Growth ETF

Portfolio Holdings (Unaudited) continued

that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

•  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$1,742,937,692		$—		$—		$1,742,937,692
Other Investment Companies1		3,003,619		—		—		3,003,619
Short-Term Investment1		—		100,000		—		100,000
Total		$1,745,941,311		$100,000		$—		$1,746,041,311

¹ As categorized in Portfolio Holdings.

The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2014.

REG56689NOV14

7

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

Portfolio Holdings as of November 30, 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		1,070,901,510		1,283,560,965
	0	.4%	Other Investment Companies		4,634,162		4,682,259
	0	.0%	Short-Term Investment		25,000		25,000
	100	.1%	Total Investments		1,075,560,672		1,288,268,224
	(0	.1)%	Other Assets and Liabilities, Net				(970,681	)
	100	.0%	Net Assets				1,287,297,543

	Number		Value
Security	of Shares		($)
Common Stock 99.7% of net assets
Automobiles & Components 1.9%
Autoliv, Inc.		11,370		1,125,175
Delphi Automotive plc		36,784		2,683,393
Ford Motor Co.		477,009		7,503,352
General Motors Co.		165,715		5,539,852
Harley-Davidson, Inc.		26,775		1,865,682
Johnson Controls, Inc.		81,936		4,096,800
TRW Automotive Holdings Corp. *		13,609		1,407,171
				24,221,425
Banks 10.6%
Bank of America Corp.		1,293,490		22,041,070
BB&T Corp.		88,451		3,324,873
BOK Financial Corp.		3,733		240,592
Citigroup, Inc.		373,018		20,131,781
Comerica, Inc.		22,189		1,034,229
Cullen/Frost Bankers, Inc.		7,530		562,190
Fifth Third Bancorp		102,667		2,065,660
First Republic Bank		14,969		771,353
Hudson City Bancorp, Inc.		59,210		579,666
Huntington Bancshares, Inc.		100,491		1,015,964
JPMorgan Chase & Co.		462,553		27,827,188
KeyCorp		107,883		1,456,420
M&T Bank Corp.		16,155		2,035,853
New York Community Bancorp, Inc.		54,448		865,179
People’s United Financial, Inc.		38,150		563,857
Regions Financial Corp.		169,579		1,707,661
SunTrust Banks, Inc.		65,299		2,565,598
The PNC Financial Services Group, Inc.		66,458		5,813,081
U.S. Bancorp		221,686		9,798,521
Wells Fargo & Co.		583,989		31,815,721
				136,216,457
Capital Goods 7.8%
AGCO Corp.		10,528		444,176
Allison Transmission Holdings, Inc.		19,612		645,039
Eaton Corp. plc		58,457		3,965,138
Emerson Electric Co.		85,787		5,468,921
General Dynamics Corp.		39,067		5,678,779
General Electric Co.		1,235,541		32,729,481
Honeywell International, Inc.		97,022		9,611,970
Hubbell, Inc., Class B		6,689		714,385
Ingersoll-Rand plc		32,872		2,072,908
Joy Global, Inc.		12,020		589,461
L-3 Communications Holdings, Inc.		10,591		1,319,639
Lockheed Martin Corp.		33,133		6,346,958
Masco Corp.		43,772		1,059,282
Northrop Grumman Corp.		25,597		3,607,385
Oshkosh Corp.		10,283		466,848
Owens Corning		15,200		529,568
Parker-Hannifin Corp.		18,327		2,364,733
Raytheon Co.		38,133		4,068,791
Rockwell Automation, Inc.		16,905		1,951,006
Rockwell Collins, Inc.		16,636		1,422,877
Textron, Inc.		34,329		1,487,132
The Timken Co.		8,591		367,609
Trinity Industries, Inc.		19,218		616,129
United Technologies Corp.		105,247		11,585,590
Xylem, Inc.		22,441		860,388
				99,974,193
Commercial & Professional Services 0.6%
Cintas Corp.		11,846		866,535
Republic Services, Inc.		31,037		1,229,376
The ADT Corp.		21,325		745,095
Tyco International plc		54,595		2,342,125
Waste Management, Inc.		53,259		2,595,311
				7,778,442
Consumer Durables & Apparel 0.7%
Coach, Inc.		33,768		1,253,468
Garmin Ltd.		14,888		853,083
Hasbro, Inc.		14,081		833,595
Leggett & Platt, Inc.		16,759		705,386
Mattel, Inc.		41,543		1,310,682
Newell Rubbermaid, Inc.		33,642		1,221,541
PulteGroup, Inc.		41,566		899,073
Whirlpool Corp.		9,537		1,775,503
				8,852,331
Consumer Services 1.5%
Aramark		8,445		256,728
Carnival Corp.		55,330		2,443,373
Darden Restaurants, Inc.		16,254		926,315
H&R Block, Inc.		33,783		1,136,460

1

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
International Game Technology		30,420		518,053
McDonald’s Corp.		120,813		11,695,907
MGM Resorts International *		45,935		1,047,777
Wyndham Worldwide Corp.		15,361		1,280,493
				19,305,106
Diversified Financials 3.2%
Capital One Financial Corp.		69,043		5,744,378
CME Group, Inc.		38,787		3,282,932
Discover Financial Services		57,343		3,758,834
Eaton Vance Corp.		14,593		609,841
Invesco Ltd.		53,232		2,148,443
Legg Mason, Inc.		12,462		707,218
Navient Corp.		51,536		1,080,195
Northern Trust Corp.		27,172		1,840,360
Santander Consumer USA Holdings, Inc.		12,466		231,743
State Street Corp.		53,946		4,139,277
Synchrony Financial *		15,296		443,737
The Bank of New York Mellon Corp.		139,240		5,573,777
The Goldman Sachs Group, Inc.		50,386		9,493,226
The NASDAQ OMX Group, Inc.		13,570		609,429
Voya Financial, Inc.		21,030		880,736
				40,544,126
Energy 10.2%
Apache Corp.		47,077		3,017,165
Chesapeake Energy Corp.		63,916		1,294,938
Chevron Corp.		233,641		25,436,496
Cobalt International Energy, Inc. *		41,768		375,912
ConocoPhillips		151,208		9,990,313
CONSOL Energy, Inc.		28,308		1,107,692
CVR Energy, Inc. (a)		2,484		115,605
Diamond Offshore Drilling, Inc. (a)		8,244		242,126
Ensco plc, Class A		28,781		972,798
Exxon Mobil Corp.		524,510		47,489,135
Helmerich & Payne, Inc.		13,358		929,049
Kinder Morgan, Inc. (a)		208,540		8,623,129
Marathon Oil Corp.		82,970		2,399,492
Marathon Petroleum Corp.		34,860		3,140,537
Murphy Oil Corp.		20,536		994,353
Noble Corp. plc		31,238		561,972
Occidental Petroleum Corp.		95,907		7,650,501
Phillips 66		68,700		5,016,474
QEP Resources, Inc.		20,352		415,995
Spectra Energy Corp.		82,474		3,124,115
The Williams Cos., Inc.		82,710		4,280,243
Transocean Ltd. (a)		43,915		922,654
Valero Energy Corp.		64,960		3,157,706
				131,258,400
Food & Staples Retailing 1.9%
Safeway, Inc.		28,299		985,937
Sprouts Farmers Market, Inc. *		12,847		408,406
Sysco Corp.		72,105		2,902,947
The Kroger Co.		60,062		3,594,110
Wal-Mart Stores, Inc.		194,425		17,019,965
				24,911,365
Food, Beverage & Tobacco 7.3%
Altria Group, Inc.		243,777		12,252,232
Archer-Daniels-Midland Co.		79,360		4,180,685
Bunge Ltd.		17,982		1,632,226
Campbell Soup Co.		21,982		995,345
Coca-Cola Enterprises, Inc.		27,729		1,218,412
ConAgra Foods, Inc.		51,921		1,896,155
Dr. Pepper Snapple Group, Inc.		24,033		1,778,442
Flowers Foods, Inc.		22,694		442,533
General Mills, Inc.		75,318		3,973,025
Hormel Foods Corp.		16,546		878,262
Ingredion, Inc.		9,154		761,887
Kellogg Co.		31,458		2,084,093
Kraft Foods Group, Inc.		73,020		4,393,613
Lorillard, Inc.		44,227		2,792,493
McCormick & Co., Inc. Non-Voting Shares		15,949		1,185,489
Molson Coors Brewing Co., Class B		19,551		1,512,270
Mondelez International, Inc., Class A		207,485		8,133,412
Philip Morris International, Inc.		192,895		16,768,362
Pilgrim’s Pride Corp. *(a)		7,598		245,415
Reynolds American, Inc.		37,838		2,493,903
The Coca-Cola Co.		485,511		21,765,458
The J.M. Smucker Co.		12,514		1,283,561
Tyson Foods, Inc., Class A		36,000		1,524,240
				94,191,513
Health Care Equipment & Services 2.6%
Abbott Laboratories		184,951		8,232,169
Baxter International, Inc.		66,997		4,890,781
Boston Scientific Corp. *		163,053		2,098,492
Cardinal Health, Inc.		41,343		3,397,981
Halyard Health, Inc. *		5,730		224,673
Humana, Inc.		18,895		2,606,943
IMS Health Holdings, Inc. *		8,144		203,600
Omnicare, Inc.		11,965		841,379
Patterson Cos., Inc.		12,080		582,014
Quest Diagnostics, Inc.		18,819		1,229,069
St. Jude Medical, Inc.		34,954		2,375,474
WellPoint, Inc.		33,683		4,308,393
Zimmer Holdings, Inc.		20,709		2,325,414
				33,316,382
Household & Personal Products 2.9%
Avon Products, Inc.		53,469		522,927
Coty, Inc., Class A *		11,476		232,274
Kimberly-Clark Corp.		45,933		5,355,328
The Clorox Co.		15,803		1,605,901
The Procter & Gamble Co.		333,042		30,116,988
				37,833,418
Insurance 5.3%
ACE Ltd.		41,330		4,725,672
Aflac, Inc.		55,732		3,328,872
American Financial Group, Inc.		11,347		685,245
American International Group, Inc.		177,069		9,703,381
Aon plc		35,672		3,299,303
Arthur J. Gallagher & Co.		19,547		937,279
Axis Capital Holdings Ltd.		12,517		626,476

2 

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Brown & Brown, Inc.		16,061		517,164
Cincinnati Financial Corp.		18,101		922,246
CNA Financial Corp.		3,536		136,914
FNF Group		34,025		1,102,410
Genworth Financial, Inc., Class A *		61,032		554,781
HCC Insurance Holdings, Inc.		11,748		623,466
Lincoln National Corp.		32,137		1,819,918
Loews Corp.		37,505		1,561,708
Marsh & McLennan Cos., Inc.		66,923		3,787,173
MetLife, Inc.		139,398		7,751,923
Principal Financial Group, Inc.		33,654		1,792,749
Prudential Financial, Inc.		56,576		4,807,828
Reinsurance Group of America, Inc.		8,454		724,677
The Allstate Corp.		53,300		3,632,395
The Chubb Corp.		29,515		3,041,521
The Hartford Financial Services Group, Inc.		55,128		2,276,786
The Progressive Corp.		66,169		1,802,444
The Travelers Cos., Inc.		41,678		4,353,267
Torchmark Corp.		16,024		861,290
Unum Group		31,268		1,038,723
Willis Group Holdings plc		21,856		933,470
XL Group plc		32,676		1,160,652
				68,509,733
Materials 3.4%
Air Products & Chemicals, Inc.		23,587		3,392,518
Albemarle Corp.		9,519		562,002
Alcoa, Inc.		144,672		2,501,379
Ashland, Inc.		8,773		1,000,561
Avery Dennison Corp.		11,211		555,057
Celanese Corp., Series A		19,033		1,143,312
E.I. du Pont de Nemours & Co.		113,437		8,099,402
Eastman Chemical Co.		18,271		1,515,031
Freeport-McMoRan, Inc.		127,781		3,430,920
Huntsman Corp.		24,947		636,648
International Flavors & Fragrances, Inc.		9,990		1,010,688
International Paper Co.		52,543		2,827,864
MeadWestvaco Corp.		20,654		925,299
Newmont Mining Corp.		61,340		1,128,656
Nucor Corp.		39,207		2,102,672
Owens-Illinois, Inc. *		19,217		492,724
Reliance Steel & Aluminum Co.		9,488		606,663
Rockwood Holdings, Inc.		8,733		680,737
RPM International, Inc.		16,391		781,851
Sealed Air Corp.		27,117		1,071,935
The Dow Chemical Co.		138,314		6,731,742
The Mosaic Co.		39,196		1,794,001
Vulcan Materials Co.		16,063		1,061,764
Westlake Chemical Corp.		5,354		340,514
				44,393,940
Media 2.1%
Cablevision Systems Corp., Class A		26,329		535,005
CBS Corp., Class B Non-Voting Shares		59,599		3,270,793
Gannett Co., Inc.		27,731		902,644
Lamar Advertising Co., Class A		10,583		563,968
News Corp., Class A *		61,239		950,429
Omnicom Group, Inc.		30,895		2,387,257
The Interpublic Group of Cos., Inc.		51,805		1,051,124
Time Warner, Inc.		105,159		8,951,134
Twenty-First Century Fox, Inc., Class A		231,627		8,523,874
				27,136,228
Pharmaceuticals, Biotechnology & Life Sciences 9.5%
AbbVie, Inc.		196,879		13,624,027
Bristol-Myers Squibb Co.		204,973		12,103,656
Eli Lilly & Co.		120,905		8,236,048
Hospira, Inc. *		20,728		1,236,218
Johnson & Johnson		346,907		37,552,683
Merck & Co., Inc.		354,942		21,438,497
Mylan, Inc. *		46,026		2,697,584
PerkinElmer, Inc.		13,461		612,072
Pfizer, Inc.		780,142		24,301,423
Quintiles Transnational Holdings, Inc. *		8,330		481,640
				122,283,848
Real Estate 2.7%
Alexandria Real Estate Equities, Inc.		8,397		721,470
American Capital Agency Corp.		43,376		1,000,901
American Realty Capital Properties, Inc.		111,632		1,049,341
Annaly Capital Management, Inc.		116,492		1,341,988
Apartment Investment & Management Co., Class A		17,812		663,497
Brixmor Property Group, Inc.		7,580		183,284
Camden Property Trust		10,551		809,051
Corrections Corp. of America		14,304		518,520
DDR Corp.		39,542		724,805
Duke Realty Corp.		40,886		794,824
Equity Residential		44,475		3,150,609
General Growth Properties, Inc.		79,676		2,132,130
HCP, Inc.		56,384		2,526,003
Health Care REIT, Inc.		39,784		2,930,489
Iron Mountain, Inc.		22,605		859,216
Kilroy Realty Corp.		11,062		759,738
Kimco Realty Corp.		50,576		1,287,159
Liberty Property Trust		18,207		644,164
National Retail Properties, Inc.		16,458		634,127
Plum Creek Timber Co., Inc.		21,650		902,372
Prologis, Inc.		61,525		2,601,277
Rayonier, Inc.		14,207		387,567
Realty Income Corp.		27,370		1,271,610
Regency Centers Corp.		10,810		664,599
Senior Housing Properties Trust		23,550		530,581
The Macerich Co.		17,500		1,383,900
UDR, Inc.		30,901		951,133
Weingarten Realty Investors		13,648		496,787
Weyerhaeuser Co.		65,012		2,295,574
WP Carey, Inc.		12,322		839,621
				35,056,337
Retailing 1.4%
Best Buy Co., Inc.		34,965		1,377,971
Dillard’s, Inc., Class A		3,238		381,695

3

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Foot Locker, Inc.		17,654		1,011,398
GameStop Corp., Class A (a)		13,693		517,732
Genuine Parts Co.		18,857		1,938,122
Kohl’s Corp.		25,190		1,501,828
Macy’s, Inc.		43,350		2,813,849
Staples, Inc.		79,238		1,114,086
Target Corp.		78,201		5,786,874
The Gap, Inc.		33,733		1,335,827
				17,779,382
Semiconductors & Semiconductor Equipment 3.2%
Analog Devices, Inc.		38,601		2,109,159
Applied Materials, Inc.		149,830		3,603,411
Intel Corp.		609,109		22,689,310
KLA-Tencor Corp.		20,250		1,406,160
Linear Technology Corp.		29,330		1,350,060
Marvell Technology Group Ltd.		51,900		743,208
Maxim Integrated Products, Inc.		34,733		1,027,055
Microchip Technology, Inc.		24,653		1,113,083
Texas Instruments, Inc.		133,115		7,244,118
				41,285,564
Software & Services 6.6%
Amdocs Ltd.		19,952		972,560
CA, Inc.		39,377		1,226,594
Cadence Design Systems, Inc. *		34,721		655,185
Computer Sciences Corp.		17,783		1,127,087
International Business Machines Corp.		114,126		18,507,813
Microsoft Corp.		1,013,831		48,471,260
Paychex, Inc.		40,147		1,903,369
Solera Holdings, Inc.		8,444		444,745
Symantec Corp.		87,470		2,282,092
The Western Union Co.		65,175		1,210,952
Total System Services, Inc.		19,221		634,101
Xerox Corp.		133,249		1,860,156
Yahoo! Inc. *		113,771		5,886,512
				85,182,426
Technology Hardware & Equipment 3.4%
Arrow Electronics, Inc. *		12,105		707,416
Avnet, Inc.		16,944		741,978
Cisco Systems, Inc.		627,942		17,356,317
Corning, Inc.		158,785		3,337,660
Harris Corp.		12,861		921,748
Hewlett-Packard Co.		231,302		9,034,656
Jabil Circuit, Inc.		25,329		525,577
Motorola Solutions, Inc.		27,150		1,784,298
NCR Corp. *		20,448		606,283
Seagate Technology plc		40,153		2,654,515
TE Connectivity Ltd.		50,260		3,226,692
Western Digital Corp.		27,070		2,795,519
				43,692,659
Telecommunication Services 4.1%
AT&T, Inc.		638,131		22,577,075
CenturyLink, Inc.		70,080		2,857,162
Frontier Communications Corp.		122,148		861,143
Sprint Corp. *		97,025		496,768
Verizon Communications, Inc.		509,991		25,800,445
Windstream Holdings, Inc.		72,875		736,766
				53,329,359
Transportation 0.8%
CSX Corp.		123,412		4,503,304
Expeditors International of Washington, Inc.		23,986		1,123,025
Norfolk Southern Corp.		37,993		4,241,538
				9,867,867
Utilities 6.0%
AES Corp.		87,799		1,217,772
AGL Resources, Inc.		14,691		768,486
Alliant Energy Corp.		13,514		849,625
Ameren Corp.		29,825		1,285,756
American Electric Power Co., Inc.		60,118		3,459,791
American Water Works Co., Inc.		22,077		1,171,185
Aqua America, Inc.		21,246		564,719
CenterPoint Energy, Inc.		52,849		1,265,205
CMS Energy Corp.		37,822		1,251,908
Consolidated Edison, Inc.		36,028		2,275,168
Dominion Resources, Inc.		72,538		5,262,632
DTE Energy Co.		21,730		1,770,126
Duke Energy Corp.		86,920		7,031,828
Edison International		40,030		2,544,307
Entergy Corp.		22,067		1,851,421
Exelon Corp.		105,666		3,821,939
FirstEnergy Corp.		51,668		1,905,516
Integrys Energy Group, Inc.		9,744		709,753
MDU Resources Group, Inc.		23,241		569,869
National Fuel Gas Co.		10,306		713,897
NextEra Energy, Inc.		53,672		5,602,820
NiSource, Inc.		38,737		1,620,756
Northeast Utilities		38,912		1,970,504
NRG Energy, Inc.		41,537		1,298,447
OGE Energy Corp.		24,543		875,940
Pepco Holdings, Inc.		30,293		833,057
PG&E Corp.		57,912		2,924,556
Pinnacle West Capital Corp.		13,592		859,422
PPL Corp.		81,683		2,902,197
Public Service Enterprise Group, Inc.		62,196		2,598,549
SCANA Corp.		17,508		998,481
Sempra Energy		28,479		3,181,959
TECO Energy, Inc.		27,140		538,186
The Southern Co.		110,152		5,224,509
UGI Corp.		20,411		769,699
Westar Energy, Inc.		17,196		672,192
Wisconsin Energy Corp.		27,704		1,368,577
Xcel Energy, Inc.		62,160		2,109,710
				76,640,464
Total Common Stock
(Cost $1,070,901,510)				1,283,560,965

4 

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Other Investment Companies 0.4% of net assets
Equity Fund 0.0%
iShares Russell 1000 Value ETF		4,000		417,800
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b)		502,819		502,819
Securities Lending Collateral 0.3%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b)		3,761,640		3,761,640
Total Other Investment Companies
(Cost $4,634,162)				4,682,259
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.05%, 12/18/14 (c)		25,000		25,000
Total Short-Term Investment
(Cost $25,000)				25,000
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $1,076,175,013 and the unrealized appreciation and depreciation were $224,091,888 and ($11,998,677), respectively, with a net unrealized appreciation $212,093,211.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $3,923,387. Non-Cash Collateral pledged to the fund for securities on loan amounted to $393,917.
(b)	The rate shown is the 7-day yield.
(c)	The rate shown is the purchase 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.

5

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

•  Short-term securities (60 days or less to maturity): Short-term securities may be 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, without consideration to the classification level of the specific investments held by the underlying fund.

•  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

•  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.

6 

 Schwab U.S. Large-Cap Value ETF

Portfolio Holdings (Unaudited) continued

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$1,283,560,965		$—		$—		$1,283,560,965
Other Investment Companies1		4,682,259		—		—		4,682,259
Short-Term Investment1		—		25,000		—		25,000
Total		$1,288,243,224		$25,000		$—		$1,288,268,224

¹ As categorized in Portfolio Holdings.

The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2014.

REG56690NOV14

7

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

Portfolio Holdings as of November 30, 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		1,099,860,256		1,279,531,511
	1	.4%	Other Investment Companies		17,158,675		17,178,664
	101	.2%	Total Investments		1,117,018,931		1,296,710,175
	(1	.2)%	Other Assets and Liabilities, Net				(14,962,268	)
	100	.0%	Net Assets				1,281,747,907

	Number		Value
Security	of Shares		($)
Common Stock 99.8% of net assets
Automobiles & Components 1.1%
Dana Holding Corp.		88,971		1,886,185
Gentex Corp.		73,839		2,625,715
Lear Corp.		41,314		3,962,426
The Goodyear Tire & Rubber Co.		138,970		3,809,167
Visteon Corp. *		22,178		2,173,444
				14,456,937
Banks 3.4%
Associated Banc-Corp.		78,138		1,443,990
BankUnited, Inc.		51,227		1,547,055
BOK Financial Corp.		10,923		703,987
City National Corp.		24,076		1,858,427
Commerce Bancshares, Inc.		41,678		1,784,637
Cullen/Frost Bankers, Inc.		28,159		2,102,351
East West Bancorp, Inc.		72,378		2,661,339
First Niagara Financial Group, Inc.		178,740		1,460,306
First Republic Bank		63,052		3,249,070
Hudson City Bancorp, Inc.		243,128		2,380,223
Huntington Bancshares, Inc.		420,593		4,252,195
Nationstar Mortgage Holdings, Inc. *(a)		12,853		385,204
New York Community Bancorp, Inc.		223,472		3,550,970
Ocwen Financial Corp. *		57,651		1,322,514
People’s United Financial, Inc.		156,684		2,315,790
Popular, Inc. *		51,801		1,690,785
Prosperity Bancshares, Inc.		30,157		1,694,220
Signature Bank *		25,400		3,080,258
SVB Financial Group *		25,872		2,720,441
TFS Financial Corp.		44,118		669,270
Zions Bancorp		102,362		2,872,278
				43,745,310
Capital Goods 12.0%
A.O. Smith Corp.		39,079		2,107,530
Acuity Brands, Inc.		22,086		3,052,285
AECOM Technology Corp. *		78,091		2,499,693
AGCO Corp.		43,055		1,816,490
Allegion plc		48,602		2,617,218
Allison Transmission Holdings, Inc.		83,805		2,756,346
Armstrong World Industries, Inc. *		22,611		1,132,811
B/E Aerospace, Inc. *		53,391		4,157,557
Carlisle Cos., Inc.		32,813		2,933,482
Chicago Bridge & Iron Co. N.V.		48,591		2,431,008
CLARCOR, Inc.		25,877		1,705,036
Colfax Corp. *		48,006		2,473,749
Crane Co.		25,875		1,527,401
Donaldson Co., Inc.		67,126		2,617,914
EMCOR Group, Inc.		33,830		1,466,531
Fortune Brands Home & Security, Inc.		79,996		3,593,420
Generac Holdings, Inc. *		35,342		1,533,136
Graco, Inc.		30,289		2,426,149
HD Supply Holdings, Inc. *		62,260		1,810,521
Hexcel Corp. *		48,641		2,105,669
Hubbell, Inc., Class B		27,765		2,965,302
IDEX Corp.		40,404		3,103,431
ITT Corp.		46,186		1,912,100
Jacobs Engineering Group, Inc. *		68,731		3,192,555
Joy Global, Inc.		49,618		2,433,267
KBR, Inc.		73,443		1,236,780
Kennametal, Inc.		39,661		1,460,318
Lennox International, Inc.		23,348		2,187,007
Lincoln Electric Holdings, Inc.		40,095		2,888,444
Masco Corp.		183,277		4,435,303
MSC Industrial Direct Co., Inc., Class A		25,930		2,013,983
Nordson Corp.		29,587		2,312,224
NOW, Inc. *(a)		54,044		1,447,298
Oshkosh Corp.		43,545		1,976,943
Owens Corning		59,892		2,086,637
Pall Corp.		54,823		5,269,039
Quanta Services, Inc. *		111,700		3,406,850
Regal-Beloit Corp.		23,704		1,714,273
Sensata Technologies Holding N.V. *		86,693		4,297,372
Snap-on, Inc.		29,941		4,051,916
SolarCity Corp. *(a)		24,809		1,364,495
Spirit AeroSystems Holdings, Inc., Class A *		65,559		2,826,249
SPX Corp.		21,455		1,924,299
Teledyne Technologies, Inc. *		19,051		2,036,742
Terex Corp.		55,323		1,587,770
The Babcock & Wilcox Co.		56,282		1,667,636
The Manitowoc Co., Inc.		71,306		1,436,103
The Middleby Corp. *		28,825		2,756,823
The Timken Co.		38,436		1,644,676
The Toro Co.		28,062		1,843,112
TransDigm Group, Inc.		25,241		4,992,417
Trinity Industries, Inc.		80,595		2,583,876
Triumph Group, Inc.		25,927		1,764,592

1

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
United Rentals, Inc. *		48,588		5,505,506
USG Corp. *		45,155		1,300,916
Valmont Industries, Inc. (a)		13,143		1,777,196
WABCO Holdings, Inc. *		28,396		2,913,998
Wabtec Corp.		49,586		4,387,865
Watsco, Inc.		14,519		1,473,679
WESCO International, Inc. *		22,376		1,843,559
Woodward, Inc.		29,326		1,515,568
Xylem, Inc.		92,192		3,534,641
				153,836,706
Commercial & Professional Services 2.9%
Cintas Corp.		49,800		3,642,870
Clean Harbors, Inc. *		29,083		1,359,630
Copart, Inc. *		59,317		2,155,580
Equifax, Inc.		61,839		4,919,292
KAR Auction Services, Inc.		70,880		2,455,992
Manpowergroup, Inc.		40,206		2,688,173
Pitney Bowes, Inc.		102,399		2,521,063
Robert Half International, Inc.		69,351		3,938,443
Rollins, Inc.		33,314		1,083,704
The ADT Corp.		87,909		3,071,541
The Dun & Bradstreet Corp.		18,887		2,397,705
Towers Watson & Co., Class A		35,471		4,006,804
Waste Connections, Inc.		62,669		2,958,604
				37,199,401
Consumer Durables & Apparel 5.0%
Brunswick Corp.		48,534		2,411,169
Carter’s, Inc.		26,765		2,227,116
D.R. Horton, Inc.		170,938		4,357,210
Fossil Group, Inc. *		23,439		2,618,605
Hanesbrands, Inc.		51,117		5,915,259
Harman International Industries, Inc.		34,927		3,790,627
Hasbro, Inc.		57,851		3,424,779
Jarden Corp. *		90,268		3,985,354
Leggett & Platt, Inc.		69,222		2,913,554
Lennar Corp., Class A		89,796		4,241,963
lululemon athletica, Inc. *		52,873		2,547,950
Mohawk Industries, Inc. *		31,352		4,815,354
Newell Rubbermaid, Inc.		140,516		5,102,136
NVR, Inc. *		2,103		2,646,983
Polaris Industries, Inc.		31,101		4,873,838
PulteGroup, Inc.		170,862		3,695,745
Toll Brothers, Inc. *		81,721		2,859,418
Tupperware Brands Corp.		25,401		1,708,217
				64,135,277
Consumer Services 2.4%
Aramark		35,522		1,079,869
Brinker International, Inc.		32,551		1,833,598
Burger King Worldwide, Inc.		32,748		1,190,062
Darden Restaurants, Inc.		68,100		3,881,019
Domino’s Pizza, Inc.		27,766		2,605,839
Dunkin’ Brands Group, Inc.		52,836		2,554,621
Extended Stay America, Inc.		29,658		551,639
Graham Holdings Co., Class B		2,280		2,023,477
H&R Block, Inc.		139,036		4,677,171
International Game Technology		124,777		2,124,952
Norwegian Cruise Line Holdings Ltd. *		46,158		2,025,875
Panera Bread Co., Class A *		13,063		2,186,746
Service Corp. International		106,639		2,410,041
Six Flags Entertainment Corp.		45,152		1,835,429
				30,980,338
Diversified Financials 3.0%
CBOE Holdings, Inc.		43,022		2,577,448
E*TRADE Financial Corp. *		145,779		3,325,219
Eaton Vance Corp.		59,881		2,502,427
Federated Investors, Inc., Class B		50,197		1,578,194
Legg Mason, Inc.		51,402		2,917,064
LPL Financial Holdings, Inc.		38,965		1,662,637
MSCI, Inc.		60,528		2,927,134
Navient Corp.		216,283		4,533,292
Raymond James Financial, Inc.		64,997		3,659,331
Santander Consumer USA Holdings, Inc.		51,111		950,153
SEI Investments Co.		66,169		2,622,277
The NASDAQ OMX Group, Inc.		59,578		2,675,648
Voya Financial, Inc.		102,073		4,274,817
Waddell & Reed Financial, Inc., Class A		42,556		2,046,092
				38,251,733
Energy 4.7%
Atwood Oceanics, Inc. *		31,552		1,012,504
Cobalt International Energy, Inc. *		150,047		1,350,423
Core Laboratories N.V.		22,376		2,882,700
CVR Energy, Inc. (a)		7,982		371,482
Denbury Resources, Inc.		177,942		1,469,801
Diamond Offshore Drilling, Inc. (a)		33,943		996,906
Dresser-Rand Group, Inc. *		38,666		3,136,199
Dril-Quip, Inc. *		20,149		1,606,883
Energen Corp.		36,871		2,201,936
EP Energy Corp., Class A *		22,102		236,270
Frank’s International N.V.		18,947		340,667
Gulfport Energy Corp. *		43,122		2,058,213
Helmerich & Payne, Inc.		55,449		3,856,478
Kosmos Energy Ltd. *		59,836		499,032
Laredo Petroleum, Inc. *		42,173		440,708
Nabors Industries Ltd.		146,236		1,918,616
Newfield Exploration Co. *		69,103		1,881,675
Noble Corp. plc		128,493		2,311,589
Oasis Petroleum, Inc. *		51,462		945,872
Oceaneering International, Inc.		54,491		3,417,131
Oil States International, Inc. *		26,931		1,342,510
Patterson-UTI Energy, Inc.		73,721		1,304,125
QEP Resources, Inc.		83,610		1,708,988
Rosetta Resources, Inc. *		30,972		911,196
Rowan Cos. plc, Class A		62,824		1,367,679
RPC, Inc.		33,399		443,873
SM Energy Co.		33,979		1,476,388
Superior Energy Services, Inc.		78,032		1,506,798
Targa Resources Corp.		15,193		1,734,129
Teekay Corp.		24,435		1,214,908
Tesoro Corp.		66,207		5,072,780
Ultra Petroleum Corp. *(a)		80,138		1,590,739

2 

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Western Refining, Inc.		39,045		1,605,140
Whiting Petroleum Corp. *		60,043		2,507,996
World Fuel Services Corp.		38,000		1,720,640
WPX Energy, Inc. *		102,469		1,390,504
				59,833,478
Food & Staples Retailing 0.8%
Rite Aid Corp. *		460,299		2,522,439
Safeway, Inc.		116,330		4,052,937
Sprouts Farmers Market, Inc. *		64,527		2,051,313
United Natural Foods, Inc. *		24,936		1,874,938
				10,501,627
Food, Beverage & Tobacco 1.1%
Flowers Foods, Inc.		93,321		1,819,759
Ingredion, Inc.		37,636		3,132,444
Pilgrim’s Pride Corp. *(a)		33,066		1,068,032
Pinnacle Foods, Inc.		47,203		1,606,318
Seaboard Corp. *		131		451,949
The Hain Celestial Group, Inc. *		25,998		2,943,494
The WhiteWave Foods Co. *		87,914		3,220,290
				14,242,286
Health Care Equipment & Services 4.4%
Align Technology, Inc. *		37,933		2,158,388
athenahealth, Inc. *		19,126		2,243,480
Brookdale Senior Living, Inc. *		93,388		3,307,803
Centene Corp. *		29,479		2,911,641
Community Health Systems, Inc. *		58,136		2,737,043
DENTSPLY International, Inc.		71,547		3,933,654
Envision Healthcare Holdings, Inc. *		66,886		2,365,089
Hologic, Inc. *		122,027		3,270,323
IDEXX Laboratories, Inc. *		25,335		3,783,782
MEDNAX, Inc. *		50,568		3,310,181
Omnicare, Inc.		49,405		3,474,159
Patterson Cos., Inc.		44,803		2,158,608
Premier, Inc., Class A *		16,334		555,683
ResMed, Inc. (a)		70,750		3,763,900
Sirona Dental Systems, Inc. *		27,861		2,406,912
Team Health Holdings, Inc. *		36,555		2,089,484
Teleflex, Inc.		21,454		2,556,244
Tenet Healthcare Corp. *		49,543		2,380,541
The Cooper Cos., Inc.		24,781		4,185,511
Veeva Systems, Inc., Class A *		18,662		613,047
WellCare Health Plans, Inc. *		22,086		1,628,622
				55,834,095
Household & Personal Products 0.9%
Avon Products, Inc.		219,588		2,147,571
Coty, Inc., Class A *		38,723		783,753
Energizer Holdings, Inc.		31,086		4,041,802
Herbalife Ltd. (a)		34,283		1,482,740
Nu Skin Enterprises, Inc., Class A (a)		31,318		1,309,092
Spectrum Brands Holdings, Inc.		11,358		1,044,595
				10,809,553
Insurance 6.1%
Alleghany Corp. *		8,422		3,844,980
Allied World Assurance Co. Holdings AG		48,807		1,840,024
American Financial Group, Inc.		38,970		2,353,398
American National Insurance Co.		4,420		507,328
AmTrust Financial Services, Inc. (a)		16,406		841,956
Arch Capital Group Ltd. *		68,311		3,915,587
Arthur J. Gallagher & Co.		80,221		3,846,597
Assurant, Inc.		36,005		2,433,578
Assured Guaranty Ltd.		85,445		2,183,974
Axis Capital Holdings Ltd.		54,268		2,716,113
Brown & Brown, Inc.		61,755		1,988,511
Cincinnati Financial Corp.		74,307		3,785,942
CNO Financial Group, Inc.		107,358		1,861,588
Erie Indemnity Co., Class A		12,430		1,084,269
Everest Re Group Ltd.		23,362		4,097,461
FNF Group		139,799		4,529,488
Genworth Financial, Inc., Class A *		250,712		2,278,972
HCC Insurance Holdings, Inc.		50,427		2,676,161
Markel Corp. *		7,140		4,975,009
Old Republic International Corp.		122,438		1,852,487
PartnerRe Ltd.		25,103		2,924,751
Protective Life Corp.		39,796		2,774,179
Reinsurance Group of America, Inc.		34,545		2,961,197
RenaissanceRe Holdings Ltd.		20,382		1,995,805
Torchmark Corp.		67,469		3,626,459
Validus Holdings Ltd.		48,256		2,002,624
W.R. Berkley Corp.		51,501		2,690,412
White Mountains Insurance Group Ltd.		3,111		1,971,658
Willis Group Holdings plc		90,102		3,848,256
				78,408,764
Materials 7.2%
Airgas, Inc.		34,447		3,983,107
Albemarle Corp.		39,464		2,329,955
Allegheny Technologies, Inc.		54,815		1,846,717
AptarGroup, Inc.		32,881		2,145,485
Ashland, Inc.		36,189		4,127,356
Avery Dennison Corp.		47,279		2,340,783
Axiall Corp.		36,723		1,589,371
Bemis Co., Inc.		52,681		2,104,079
Carpenter Technology Corp.		26,836		1,353,071
Crown Holdings, Inc. *		70,083		3,469,109
Cytec Industries, Inc.		36,091		1,735,977
Eagle Materials, Inc.		25,318		2,085,950
Graphic Packaging Holding Co. *		165,129		2,055,856
Huntsman Corp.		103,488		2,641,014
International Flavors & Fragrances, Inc.		41,652		4,213,933
Martin Marietta Materials, Inc.		31,660		3,800,466
MeadWestvaco Corp.		85,050		3,810,240
NewMarket Corp.		5,388		2,121,363
Owens-Illinois, Inc. *		83,175		2,132,607
Packaging Corp. of America		50,486		3,750,100
Platform Specialty Products Corp. *		51,018		1,275,960
Reliance Steel & Aluminum Co.		39,297		2,512,650

3

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Rock-Tenn Co., Class A		73,871		4,196,612
Rockwood Holdings, Inc.		35,875		2,796,456
Royal Gold, Inc.		32,877		2,093,607
RPM International, Inc.		67,322		3,211,259
Sealed Air Corp.		107,079		4,232,833
Silgan Holdings, Inc.		23,349		1,178,191
Sonoco Products Co.		51,748		2,174,451
Steel Dynamics, Inc.		121,177		2,731,330
The Scotts Miracle-Gro Co., Class A		22,642		1,381,841
The Valspar Corp.		38,500		3,230,535
Vulcan Materials Co.		67,388		4,454,347
W.R. Grace & Co. *		38,595		3,707,822
				92,814,433
Media 2.1%
AMC Networks, Inc., Class A *		29,834		1,935,033
Cablevision Systems Corp., Class A		109,469		2,224,410
Cinemark Holdings, Inc.		52,497		1,906,166
Discovery Communications, Inc., Class A *		76,681		2,676,167
Gannett Co., Inc.		115,950		3,774,172
Lamar Advertising Co., Class A		40,429		2,154,461
Liberty Broadband Corp., Class A *		12,520		686,597
Liberty Media Corp., Class A *		50,149		1,843,979
Lions Gate Entertainment Corp.		40,884		1,385,968
Morningstar, Inc.		10,733		716,320
Regal Entertainment Group, Class A		43,497		1,004,346
The Interpublic Group of Cos., Inc.		217,134		4,405,649
The Madison Square Garden Co., Class A *		30,189		2,205,005
				26,918,273
Pharmaceuticals, Biotechnology & Life Sciences 5.6%
Alkermes plc *		73,563		4,047,436
Bio-Rad Laboratories, Inc., Class A *		10,607		1,260,006
Bio-Techne Corp.		18,717		1,714,664
BioMarin Pharmaceutical, Inc. *		75,358		6,761,120
Bruker Corp. *		58,686		1,125,597
Covance, Inc. *		28,484		2,923,028
Cubist Pharmaceuticals, Inc. *		38,134		2,890,939
Endo International plc *		78,639		5,754,016
Hospira, Inc. *		86,661		5,168,462
Incyte Corp. *		78,827		5,955,380
Intercept Pharmaceuticals, Inc. *		6,179		888,108
Jazz Pharmaceuticals plc *		30,483		5,398,234
Medivation, Inc. *		38,869		4,504,528
Mettler-Toledo International, Inc. *		14,791		4,337,609
PerkinElmer, Inc.		56,952		2,589,607
Pharmacyclics, Inc. *		31,186		4,347,017
Puma Biotechnology, Inc. *		10,196		2,314,696
Quintiles Transnational Holdings, Inc. *		34,729		2,008,031
Salix Pharmaceuticals Ltd. *		32,376		3,324,691
Seattle Genetics, Inc. *		50,385		1,836,029
United Therapeutics Corp. *		23,980		3,179,029
				72,328,227
Real Estate 10.1%
Alexandria Real Estate Equities, Inc.		36,210		3,111,163
American Campus Communities, Inc.		54,656		2,186,240
American Homes 4 Rent, Class A		72,897		1,253,828
Apartment Investment & Management Co., Class A		73,688		2,744,878
BioMed Realty Trust, Inc.		98,543		2,113,747
Brixmor Property Group, Inc.		71,804		1,736,221
Camden Property Trust		43,187		3,311,579
CBL & Associates Properties, Inc.		88,886		1,728,833
CBRE Group, Inc., Class A *		140,834		4,751,739
Chimera Investment Corp.		518,953		1,754,061
Corrections Corp. of America		58,714		2,128,383
DDR Corp.		150,653		2,761,470
Douglas Emmett, Inc.		69,747		1,941,757
Duke Realty Corp.		175,316		3,408,143
Equity LifeStyle Properties, Inc.		41,648		2,066,157
Extra Space Storage, Inc.		55,616		3,296,360
Federal Realty Investment Trust		34,184		4,534,850
Forest City Enterprises, Inc., Class A *		87,603		1,891,349
Gaming & Leisure Properties, Inc.		46,448		1,481,691
Highwoods Properties, Inc.		45,582		1,967,319
Home Properties, Inc.		29,988		1,954,918
Hospitality Properties Trust		75,540		2,311,524
Iron Mountain, Inc.		98,930		3,760,329
Jones Lang LaSalle, Inc.		22,577		3,288,566
Kilroy Realty Corp.		41,959		2,881,744
Liberty Property Trust		74,701		2,642,921
MFA Financial, Inc.		185,739		1,556,493
Mid-America Apartment Communities, Inc.		37,969		2,796,797
National Retail Properties, Inc.		64,948		2,502,446
Omega Healthcare Investors, Inc.		64,163		2,452,310
Outfront Media, Inc.		62,473		1,690,519
Piedmont Office Realty Trust, Inc., Class A		80,700		1,517,160
Plum Creek Timber Co., Inc.		89,471		3,729,151
Rayonier, Inc.		63,835		1,741,419
Realogy Holdings Corp. *		73,708		3,392,042
Realty Income Corp.		114,163		5,304,013
Regency Centers Corp.		46,607		2,865,398
Retail Properties of America, Inc., Class A		119,546		1,921,104
RLJ Lodging Trust		68,259		2,247,769
Senior Housing Properties Trust		102,862		2,317,481
SL Green Realty Corp.		49,005		5,691,441
Starwood Property Trust, Inc.		112,407		2,704,512
Tanger Factory Outlet Centers, Inc.		48,306		1,767,034
Taubman Centers, Inc.		32,056		2,548,131
The Howard Hughes Corp. *		18,236		2,663,185
Two Harbors Investment Corp.		185,019		1,944,550
UDR, Inc.		127,034		3,910,107
Weingarten Realty Investors		56,717		2,064,499
WP Carey, Inc.		46,793		3,188,475
				129,525,806

4 

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Retailing 5.0%
Abercrombie & Fitch Co., Class A		36,142		1,042,697
Advance Auto Parts, Inc.		37,230		5,475,788
AutoNation, Inc. *		40,618		2,414,334
Cabela’s, Inc. *		23,872		1,294,817
Dick’s Sporting Goods, Inc.		50,137		2,537,434
Dillard’s, Inc., Class A		13,133		1,548,118
Foot Locker, Inc.		73,903		4,233,903
GameStop Corp., Class A (a)		56,886		2,150,860
GNC Holdings, Inc., Class A		45,319		2,004,006
Groupon, Inc. *		213,044		1,604,221
HSN, Inc.		16,260		1,185,842
J.C. Penney Co., Inc. *(a)		153,902		1,232,755
LKQ Corp. *		154,616		4,491,595
Penske Automotive Group, Inc.		22,718		1,075,697
PetSmart, Inc.		50,249		3,957,611
Sally Beauty Holdings, Inc. *		63,438		2,007,813
Sears Holdings Corp. *(a)		25,316		913,908
Signet Jewelers Ltd.		41,129		5,386,254
Staples, Inc.		331,192		4,656,560
Tractor Supply Co.		70,722		5,440,643
Ulta Salon, Cosmetics & Fragrance, Inc. *		32,813		4,150,516
Urban Outfitters, Inc. *		53,526		1,729,960
Williams-Sonoma, Inc.		44,087		3,287,127
zulily, Inc., Class A *(a)		9,480		272,360
				64,094,819
Semiconductors & Semiconductor Equipment 1.8%
Atmel Corp. *		211,327		1,671,597
Cree, Inc. *(a)		60,576		2,201,332
First Solar, Inc. *		38,366		1,872,261
Freescale Semiconductor Ltd. *		52,723		1,143,562
Marvell Technology Group Ltd.		217,372		3,112,767
ON Semiconductor Corp. *		222,680		2,010,800
Skyworks Solutions, Inc.		97,126		6,553,091
SunEdison, Inc. *		126,300		2,734,395
Teradyne, Inc.		110,281		2,189,078
				23,488,883
Software & Services 8.0%
Akamai Technologies, Inc. *		91,213		5,893,272
Amdocs Ltd.		80,789		3,938,060
ANSYS, Inc. *		46,554		3,888,190
AOL, Inc. *		39,632		1,829,413
Aspen Technology, Inc. *		48,163		1,817,672
Booz Allen Hamilton Holding Corp.		41,924		1,140,752
Broadridge Financial Solutions, Inc.		61,790		2,798,469
Cadence Design Systems, Inc. *		146,449		2,763,493
Computer Sciences Corp.		74,534		4,723,965
Concur Technologies, Inc. *		24,610		3,170,014
CoStar Group, Inc. *		16,407		2,793,456
DST Systems, Inc.		15,396		1,528,053
FactSet Research Systems, Inc.		19,716		2,702,275
FireEye, Inc. *(a)		16,262		492,576
Fortinet, Inc. *		72,001		1,984,348
Gartner, Inc. *		45,872		3,921,138
Genpact Ltd. *		78,628		1,416,877
Global Payments, Inc.		34,410		2,971,648
IAC/InterActiveCorp		38,666		2,524,116
Informatica Corp. *		57,440		2,089,667
Jack Henry & Associates, Inc.		41,594		2,556,367
Leidos Holdings, Inc.		31,321		1,265,682
NetSuite, Inc. *		17,808		1,883,196
Pandora Media, Inc. *		95,215		1,871,927
PTC, Inc. *		59,201		2,312,983
Sabre Corp.		19,985		374,519
ServiceNow, Inc. *		65,571		4,193,921
SolarWinds, Inc. *		34,325		1,782,154
Solera Holdings, Inc.		34,611		1,822,961
Splunk, Inc. *		59,961		4,023,383
Synopsys, Inc. *		80,089		3,475,062
Syntel, Inc. *		16,418		730,601
Tableau Software, Inc., Class A *		20,211		1,695,299
Teradata Corp. *		78,344		3,536,448
The Ultimate Software Group, Inc. *		14,514		2,137,041
TIBCO Software, Inc. *		76,901		1,847,931
Total System Services, Inc.		85,763		2,829,321
Vantiv, Inc., Class A *		76,761		2,589,916
VeriSign, Inc. *		56,890		3,419,089
WEX, Inc. *		19,484		2,203,251
Yelp, Inc. *		30,788		1,757,687
				102,696,193
Technology Hardware & Equipment 3.3%
3D Systems Corp. *(a)		52,074		1,837,171
Anixter International, Inc.		13,487		1,172,020
Arrow Electronics, Inc. *		49,805		2,910,604
Avnet, Inc.		69,784		3,055,841
Brocade Communications Systems, Inc.		216,185		2,445,052
CDW Corp.		54,009		1,894,636
CommScope Holding Co., Inc. *		43,977		976,289
Dolby Laboratories, Inc., Class A		22,008		976,715
EchoStar Corp., Class A *		22,575		1,216,341
FEI Co.		21,977		1,882,110
FLIR Systems, Inc.		71,516		2,269,203
Harris Corp.		52,864		3,788,763
Ingram Micro, Inc., Class A *		78,530		2,154,078
IPG Photonics Corp. *		18,496		1,333,377
Jabil Circuit, Inc.		101,829		2,112,952
National Instruments Corp.		50,683		1,631,486
NCR Corp. *		84,746		2,512,719
Palo Alto Networks, Inc. *		32,355		3,979,665
Trimble Navigation Ltd. *		133,714		3,760,706
				41,909,728
Telecommunication Services 1.2%
Frontier Communications Corp.		516,671		3,642,531
Level 3 Communications, Inc. *		141,056		7,052,800
Telephone & Data Systems, Inc.		51,200		1,308,672
United States Cellular Corp. *		6,809		262,078
Windstream Holdings, Inc. (a)		310,862		3,142,815
				15,408,896

5

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Transportation 2.3%
Alaska Air Group, Inc.		68,091		4,019,412
AMERCO		3,060		851,292
Avis Budget Group, Inc. *		53,618		3,225,123
Expeditors International of Washington, Inc.		98,636		4,618,137
Genesee & Wyoming, Inc., Class A *		25,747		2,538,397
J.B. Hunt Transport Services, Inc.		47,461		3,916,956
Kirby Corp. *		29,351		2,821,805
Landstar System, Inc.		23,304		1,873,176
Old Dominion Freight Line, Inc. *		34,345		2,783,319
Ryder System, Inc.		26,785		2,558,503
				29,206,120
Utilities 5.4%
AGL Resources, Inc.		60,242		3,151,259
Alliant Energy Corp.		56,796		3,570,764
American Water Works Co., Inc.		92,079		4,884,791
Aqua America, Inc.		89,400		2,376,252
Atmos Energy Corp.		50,672		2,721,086
Cleco Corp.		30,925		1,661,600
CMS Energy Corp.		141,346		4,678,553
Great Plains Energy, Inc.		77,786		2,035,660
Integrys Energy Group, Inc.		40,297		2,935,233
ITC Holdings Corp.		78,497		2,982,101
MDU Resources Group, Inc.		100,001		2,452,025
National Fuel Gas Co.		43,496		3,012,968
NRG Energy, Inc.		172,977		5,407,261
OGE Energy Corp.		100,569		3,589,308
Pepco Holdings, Inc.		129,020		3,548,050
Pinnacle West Capital Corp.		55,687		3,521,089
Questar Corp.		88,619		2,125,970
SCANA Corp.		73,148		4,171,630
TECO Energy, Inc.		121,153		2,402,464
UGI Corp.		86,998		3,280,695
Vectren Corp.		41,549		1,836,881
Westar Energy, Inc.		65,464		2,558,988
				68,904,628
Total Common Stock
(Cost $1,099,860,256)				1,279,531,511
Other Investment Companies 1.4% of net assets
Equity Fund 0.0%
SPDR S&P MidCap 400 ETF Trust		1,501		394,380
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b)		528,338		528,338
Securities Lending Collateral 1.3%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (b)		16,255,946		16,255,946
Total Other Investment Companies
(Cost $17,158,675)				17,178,664
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $1,118,047,219 and the unrealized appreciation and depreciation were $212,344,949 and ($33,681,993), respectively, with a net unrealized appreciation of $178,662,956.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $16,783,261. Non-Cash Collateral pledged to the fund for securities on loan amounted to $1,235,481.
(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.

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

6 

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

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.

•  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, without consideration to the classification level of the specific investments held by the underlying fund.

•  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.

7

 Schwab U.S. Mid-Cap ETF

Portfolio Holdings (Unaudited) continued

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$1,279,531,511		$—		$—		$1,279,531,511
Other Investment Companies1		17,178,664		—		—		17,178,664
Total		$1,296,710,175		$—		$—		$1,296,710,175

¹ As categorized in Portfolio Holdings.

The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2014.

REG65851NOV14

8 

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

Portfolio Holdings as of November 30, 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		1,878,648,617		2,238,457,158
	0	.0%	Rights		115,419		115,419
	0	.0%	Warrants		—		—
	3	.5%	Other Investment Companies		78,529,879		78,529,879
	0	.0%	Short-Term Investment		223,998		223,998
	103	.4%	Total Investments		1,957,517,913		2,317,326,454
	(3	.4)%	Other Assets and Liabilities, Net				(75,555,838	)
	100	.0%	Net Assets				2,241,770,616

	Number		Value
Security	of Shares		($)
Common Stock 99.9% of net assets
Automobiles & Components 1.2%
American Axle & Manufacturing Holdings, Inc. *		66,520		1,419,537
Cooper Tire & Rubber Co.		54,127		1,836,529
Cooper-Standard Holding, Inc. *		11,627		625,068
Dana Holding Corp.		148,527		3,148,773
Dorman Products, Inc. *		27,007		1,278,241
Drew Industries, Inc.		20,937		986,133
Federal-Mogul Holdings Corp. *		24,670		382,878
Fox Factory Holding Corp. *		18,017		247,013
Gentex Corp.		127,579		4,536,709
Gentherm, Inc. *		30,665		1,155,764
Modine Manufacturing Co. *		43,087		524,369
Remy International, Inc.		14,150		260,360
Standard Motor Products, Inc.		20,022		763,839
Superior Industries International, Inc.		20,842		377,657
Tenneco, Inc. *		53,189		2,890,822
Thor Industries, Inc.		41,041		2,411,569
Visteon Corp. *		38,526		3,775,548
Winnebago Industries, Inc.		22,435		564,913
				27,185,722
Banks 7.9%
1st Source Corp.		12,907		393,922
Ameris Bancorp		21,902		550,835
Arrow Financial Corp.		13,224		342,105
Associated Banc-Corp.		134,163		2,479,332
Astoria Financial Corp.		80,225		1,061,377
BancFirst Corp.		5,699		364,793
BancorpSouth, Inc.		74,707		1,635,336
Bank Mutual Corp.		35,595		229,944
Bank of Hawaii Corp.		39,259		2,262,496
Bank of the Ozarks, Inc.		56,352		2,039,942
BankUnited, Inc.		88,168		2,662,674
Banner Corp.		18,244		751,470
BBCN Bancorp, Inc.		68,940		959,645
Beneficial Mutual Bancorp, Inc. *		30,770		418,472
Berkshire Hills Bancorp, Inc.		25,577		649,144
BNC Bancorp		22,081		374,715
BofI Holding, Inc. *		11,592		914,841
Boston Private Financial Holdings, Inc.		75,649		965,281
Bridge Capital Holdings *		9,532		219,617
Brookline Bancorp, Inc.		55,214		525,085
Bryn Mawr Bank Corp.		11,380		334,913
Camden National Corp.		7,244		261,798
Capital Bank Financial Corp., Class A *		24,425		619,174
Capitol Federal Financial, Inc.		120,877		1,513,380
Cardinal Financial Corp.		28,718		524,678
Cascade Bancorp *		28,424		138,709
Cathay General Bancorp		67,238		1,706,500
Centerstate Banks, Inc.		25,914		289,719
Central Pacific Financial Corp.		23,027		440,737
Chemical Financial Corp.		28,073		813,275
City Holding Co.		15,272		667,845
City National Corp.		41,775		3,224,612
Clifton Bancorp, Inc.		8,629		109,071
CoBiz Financial, Inc.		30,358		348,510
Columbia Banking System, Inc.		45,073		1,238,155
Commerce Bancshares, Inc.		72,431		3,101,500
Community Bank System, Inc.		35,707		1,320,802
Community Trust Bancorp, Inc.		12,843		464,660
CVB Financial Corp.		87,905		1,333,519
Dime Community Bancshares, Inc.		28,110		425,867
Eagle Bancorp, Inc. *		18,614		638,832
East West Bancorp, Inc.		124,735		4,586,506
Enterprise Financial Services Corp.		14,638		278,122
Essent Group Ltd. *		37,457		943,916
EverBank Financial Corp.		81,426		1,534,066
F.N.B. Corp.		148,846		1,873,971
Federal Agricultural Mortgage Corp., Class C		10,614		322,772
Financial Institutions, Inc.		12,277		291,088
First Bancorp (North Carolina)		17,087		291,846
First BanCorp (Puerto Rico) *		92,663		475,361
First Busey Corp.		46,424		304,077
First Citizens BancShares, Inc., Class A		5,999		1,521,346
First Commonwealth Financial Corp.		79,494		721,806
First Community Bancshares, Inc.		13,248		204,814
First Financial Bancorp		55,741		987,173
First Financial Bankshares, Inc. (a)		55,501		1,674,465
First Financial Corp.		7,957		266,321
First Horizon National Corp.		212,725		2,714,371

1

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
First Interstate BancSystem, Inc., Class A		16,045		451,185
First Merchants Corp.		34,154		732,603
First Midwest Bancorp, Inc.		68,162		1,140,350
First Niagara Financial Group, Inc.		309,086		2,525,233
FirstMerit Corp.		147,766		2,643,534
Flagstar Bancorp, Inc. *		18,639		284,058
Flushing Financial Corp.		26,249		504,506
Fulton Financial Corp.		161,985		1,934,101
German American Bancorp, Inc.		11,362		321,090
Glacier Bancorp, Inc.		68,360		1,871,697
Great Southern Bancorp, Inc.		8,864		330,450
Hancock Holding Co.		73,195		2,394,208
Hanmi Financial Corp.		29,304		589,010
Heartland Financial USA, Inc.		15,108		378,758
Home BancShares, Inc.		50,761		1,607,601
Home Loan Servicing Solutions Ltd.		62,253		1,216,424
HomeTrust Bancshares, Inc. *		19,876		311,059
Hudson Valley Holding Corp.		16,512		413,130
Iberiabank Corp.		29,347		1,916,946
Independent Bank Corp.		21,691		859,614
Independent Bank Group, Inc.		2,890		123,981
International Bancshares Corp.		49,790		1,270,641
Investors Bancorp, Inc.		292,901		3,166,260
Kearny Financial Corp. *		9,155		129,543
Ladder Capital Corp., Class A *		14,885		281,475
Lakeland Bancorp, Inc.		29,045		320,366
Lakeland Financial Corp.		12,823		507,663
MainSource Financial Group, Inc.		16,419		292,587
MB Financial, Inc.		55,506		1,748,439
Meridian Bancorp, Inc. *		20,528		224,987
Metro Bancorp, Inc. *		10,840		271,542
MGIC Investment Corp. *		293,497		2,732,457
National Bank Holdings Corp., Class A		37,228		715,894
National Penn Bancshares, Inc.		94,340		962,268
Nationstar Mortgage Holdings, Inc. *(a)		20,046		600,779
NBT Bancorp, Inc.		41,953		1,019,877
NMI Holdings, Inc., Class A *		20,245		176,334
Northfield Bancorp, Inc.		47,387		667,683
Northwest Bancshares, Inc.		89,835		1,131,023
OceanFirst Financial Corp.		14,772		237,977
Ocwen Financial Corp. *		103,267		2,368,945
OFG Bancorp		43,426		648,784
Old National Bancorp		93,655		1,329,901
OmniAmerican Bancorp, Inc.		8,283		222,564
Opus Bank *		4,583		123,237
Oritani Financial Corp.		35,971		523,378
PacWest Bancorp		84,617		3,934,690
Park National Corp. (a)		10,381		845,429
Park Sterling Corp.		25,368		181,128
Peoples Financial Services Corp. (a)		6,937		331,380
Pinnacle Financial Partners, Inc.		29,847		1,124,336
Popular, Inc. *		90,264		2,946,217
PrivateBancorp, Inc.		61,441		1,932,319
Prosperity Bancshares, Inc.		52,127		2,928,495
Provident Financial Services, Inc.		52,668		910,103
Radian Group, Inc. (a)		172,203		2,936,061
Renasant Corp.		25,465		717,604
Republic Bancorp, Inc., Class A		11,425		259,462
S&T Bancorp, Inc.		27,728		761,965
Sandy Spring Bancorp, Inc.		22,860		543,382
ServisFirst Bancshares, Inc.		2,703		85,415
Signature Bank *		43,991		5,334,789
Simmons First National Corp., Class A		14,778		598,066
South State Corp.		22,087		1,367,848
Southside Bancshares, Inc. (a)		16,365		529,080
Southwest Bancorp, Inc.		17,862		301,868
Square 1 Financial, Inc., Class A *		5,423		115,944
State Bank Financial Corp.		23,383		434,924
Sterling Bancorp		74,767		1,000,382
Stock Yards Bancorp, Inc.		13,863		433,773
Stonegate Mortgage Corp. *(a)		7,072		84,652
Sun Bancorp, Inc. *		6,037		111,986
Susquehanna Bancshares, Inc.		169,287		2,229,510
SVB Financial Group *		44,324		4,660,669
Synovus Financial Corp.		121,070		3,128,449
TCF Financial Corp.		144,571		2,243,742
Texas Capital Bancshares, Inc. *		42,521		2,344,183
TFS Financial Corp.		69,448		1,053,526
The Bancorp, Inc. *		32,247		288,933
The First of Long Island Corp.		11,170		282,378
Tompkins Financial Corp.		9,749		478,091
Towne Bank		30,145		434,389
Trico Bancshares		11,409		283,057
TrustCo Bank Corp.		70,242		478,348
Trustmark Corp.		60,984		1,423,367
UMB Financial Corp.		32,799		1,820,017
Umpqua Holdings Corp.		190,558		3,237,580
Union Bankshares Corp.		39,063		900,012
United Bankshares, Inc.		54,895		1,915,835
United Community Banks, Inc.		37,221		655,090
United Financial Bancorp, Inc.		43,419		598,314
Univest Corp. of Pennsylvania		16,191		314,105
Valley National Bancorp		192,413		1,874,103
ViewPoint Financial Group, Inc.		34,109		813,159
Walker & Dunlop, Inc. *		18,778		296,505
Washington Federal, Inc.		86,952		1,881,641
Washington Trust Bancorp, Inc.		14,110		510,641
Waterstone Financial, Inc.		19,598		242,231
Webster Financial Corp.		78,194		2,460,765
WesBanco, Inc.		27,978		929,149
Westamerica Bancorp		24,489		1,190,165
Western Alliance Bancorp *		66,761		1,764,493
Wilshire Bancorp, Inc.		59,855		573,411
Wintrust Financial Corp.		39,882		1,782,327
WSFS Financial Corp.		6,669		500,842
				176,873,770
Capital Goods 9.9%
A.O. Smith Corp.		66,645		3,594,165
AAON, Inc.		36,515		756,591
AAR Corp.		32,724		838,716
Aceto Corp.		26,036		546,756
Actuant Corp., Class A		59,068		1,734,237
Acuity Brands, Inc.		37,752		5,217,326
Advanced Drainage Systems, Inc.		11,562		271,823
AECOM Technology Corp. *		131,501		4,209,347
Aegion Corp. *		32,862		626,021

2 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Aerovironment, Inc. *		18,670		517,346
Air Lease Corp.		84,066		3,197,030
Aircastle Ltd.		54,015		1,118,111
Alamo Group, Inc.		9,363		445,960
Albany International Corp., Class A		23,787		888,920
Allegion plc		84,392		4,544,509
Alliant Techsystems, Inc.		27,913		3,173,150
Altra Industrial Motion Corp.		25,430		778,921
Ameresco, Inc., Class A *		14,914		114,987
American Railcar Industries, Inc.		8,976		529,405
American Science & Engineering, Inc.		7,087		346,413
American Woodmark Corp. *		10,101		402,323
Apogee Enterprises, Inc.		27,724		1,253,957
Applied Industrial Technologies, Inc.		35,621		1,670,269
Armstrong World Industries, Inc. *		39,922		2,000,092
Astec Industries, Inc.		18,068		709,530
Astronics Corp. *		16,662		816,771
AZZ, Inc.		21,910		981,130
Barnes Group, Inc.		43,988		1,615,679
Beacon Roofing Supply, Inc. *		45,003		1,218,681
Blount International, Inc. *		42,239		693,564
Briggs & Stratton Corp.		41,731		836,707
Builders FirstSource, Inc. *		30,671		188,933
CAI International, Inc. *		15,816		337,039
Capstone Turbine Corp. *(a)		223,751		187,951
Chart Industries, Inc. *		26,573		1,055,214
CIRCOR International, Inc.		15,520		1,039,064
CLARCOR, Inc.		43,655		2,876,428
Columbus McKinnon Corp.		17,379		464,193
Comfort Systems USA, Inc.		35,032		503,410
Continental Building Products, Inc. *		11,331		189,228
Crane Co.		42,591		2,514,147
Cubic Corp.		20,140		1,036,203
Curtiss-Wright Corp.		42,017		2,979,005
DigitalGlobe, Inc. *		61,440		1,659,494
Douglas Dynamics, Inc.		20,346		468,568
DXP Enterprises, Inc. *		11,163		655,938
Dycom Industries, Inc. *		31,432		961,505
EMCOR Group, Inc.		57,800		2,505,630
Encore Wire Corp.		17,677		648,216
EnerSys		40,560		2,463,209
Engility Holdings, Inc. *		16,201		681,252
EnPro Industries, Inc. *		20,072		1,295,045
ESCO Technologies, Inc.		25,012		900,932
Esterline Technologies Corp. *		27,710		3,292,779
Exelis, Inc.		164,622		2,953,319
Federal Signal Corp.		52,395		781,733
Franklin Electric Co., Inc.		35,210		1,322,488
GATX Corp.		39,143		2,424,517
GenCorp, Inc. *		52,680		879,756
Generac Holdings, Inc. *		60,374		2,619,024
General Cable Corp.		45,141		621,140
Gibraltar Industries, Inc. *		25,990		372,957
Global Brass & Copper Holdings, Inc.		20,324		248,969
Global Power Equipment Group, Inc.		13,493		175,004
Graco, Inc.		53,086		4,252,189
GrafTech International Ltd. *		102,196		416,960
Graham Corp.		9,486		288,090
Granite Construction, Inc.		34,494		1,236,610
Great Lakes Dredge & Dock Corp. *		35,771		271,144
Griffon Corp.		38,633		480,981
H&E Equipment Services, Inc.		28,805		1,008,175
Harsco Corp.		73,543		1,423,793
HD Supply Holdings, Inc. *		113,430		3,298,544
HEICO Corp.		49,287		2,612,704
Hexcel Corp. *		84,253		3,647,312
Hillenbrand, Inc.		56,949		1,831,480
Huntington Ingalls Industries, Inc.		42,385		4,618,694
Hyster-Yale Materials Handling, Inc.		9,418		691,375
Insteel Industries, Inc.		14,970		326,795
ITT Corp.		79,305		3,283,227
John Bean Technologies Corp.		23,492		712,747
Kadant, Inc.		8,376		334,202
Kaman Corp.		22,482		884,442
KBR, Inc.		132,977		2,239,333
Kennametal, Inc.		68,564		2,524,527
Kratos Defense & Security Solutions, Inc. *		31,504		161,931
L.B. Foster Co., Class A		9,532		441,808
Lennox International, Inc.		39,321		3,683,198
Lindsay Corp. (a)		10,980		965,471
Lydall, Inc. *		15,735		418,079
Masonite International Corp. *		17,420		1,020,986
MasTec, Inc. *		57,031		1,374,447
Meritor, Inc. *		84,457		1,189,155
Moog, Inc., Class A *		37,401		2,722,045
MRC Global, Inc. *		89,173		1,802,186
Mueller Industries, Inc.		52,082		1,708,810
Mueller Water Products, Inc., Class A		143,589		1,362,660
MYR Group, Inc. *		21,012		545,261
National Presto Industries, Inc. (a)		3,618		212,232
Navistar International Corp. *		58,619		2,098,560
NCI Building Systems, Inc. *		23,927		446,478
Nortek, Inc. *		7,973		635,687
NOW, Inc. *(a)		93,764		2,511,000
Orbital Sciences Corp. *		54,787		1,491,302
PGT, Inc. *		39,520		371,883
Pike Corp. *		18,179		217,421
Plug Power, Inc. *(a)		134,481		513,717
Ply Gem Holdings, Inc. *		16,870		211,212
Polypore International, Inc. *		38,579		1,985,275
Powell Industries, Inc.		8,938		380,312
Power Solutions International, Inc. *		3,408		223,735
Preformed Line Products Co.		2,805		132,340
Primoris Services Corp.		33,729		882,013
Proto Labs, Inc. *		19,390		1,258,411
Quanex Building Products Corp.		32,231		637,529
Raven Industries, Inc.		33,062		743,895
RBC Bearings, Inc.		21,221		1,349,231
Regal-Beloit Corp.		39,092		2,827,133
Rexnord Corp. *		88,873		2,448,451
Rush Enterprises, Inc., Class A *		31,095		1,090,813
Simpson Manufacturing Co., Inc.		35,907		1,192,112
Spirit AeroSystems Holdings, Inc., Class A *		113,561		4,895,615

3

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Standex International Corp.		11,654		850,392
Stock Building Supply Holdings, Inc. *		13,869		222,043
Sun Hydraulics Corp.		22,405		902,249
TAL International Group, Inc. *		29,961		1,323,977
Taser International, Inc. *		47,946		1,029,880
Teledyne Technologies, Inc. *		33,162		3,545,349
Tennant Co.		16,580		1,118,321
Terex Corp.		96,426		2,767,426
Textainer Group Holdings Ltd.		18,770		653,196
The Babcock & Wilcox Co.		93,819		2,779,857
The ExOne Co. *(a)		9,627		224,694
The Gorman-Rupp Co.		15,243		477,106
The Greenbrier Cos., Inc. (a)		22,732		1,261,171
The KEYW Holding Corp. *(a)		29,537		319,295
The Manitowoc Co., Inc.		118,333		2,383,227
The Middleby Corp. *		50,058		4,787,547
The Toro Co.		47,851		3,142,854
Thermon Group Holdings, Inc. *		30,271		732,256
Titan International, Inc.		50,159		496,574
Titan Machinery, Inc. *(a)		13,064		167,611
Trex Co., Inc. *		26,614		1,121,514
TriMas Corp. *		39,990		1,244,889
Triumph Group, Inc.		44,768		3,046,910
Tutor Perini Corp. *		35,313		891,653
Twin Disc, Inc.		8,282		189,492
Universal Forest Products, Inc.		19,058		909,829
USG Corp. *		79,458		2,289,185
Valmont Industries, Inc. (a)		21,995		2,974,164
Vectrus, Inc. *		9,143		258,381
Wabash National Corp. *		57,615		621,666
Watsco, Inc.		23,660		2,401,490
Watts Water Technologies, Inc., Class A		26,050		1,574,983
WESCO International, Inc. *		38,942		3,208,431
Woodward, Inc.		50,853		2,628,083
				222,032,140
Commercial & Professional Services 3.1%
ABM Industries, Inc.		44,473		1,204,774
Acacia Research Corp. (a)		41,502		789,368
ACCO Brands Corp. *		91,469		801,268
Barrett Business Services, Inc.		6,405		139,757
Brady Corp., Class A		42,087		1,052,175
CBIZ, Inc. *		25,069		216,847
CDI Corp.		11,608		199,425
Civeo Corp.		93,426		880,073
Clean Harbors, Inc. *		48,233		2,254,893
Corporate Resource Services, Inc. *(a)		14,283		17,140
Covanta Holding Corp.		114,877		2,879,966
Deluxe Corp.		43,138		2,521,416
Ennis, Inc.		21,757		289,586
Exponent, Inc.		12,470		948,468
Franklin Covey Co. *		13,092		247,177
FTI Consulting, Inc. *		35,409		1,372,807
G&K Services, Inc., Class A		18,600		1,210,860
GP Strategies Corp. *		15,114		458,256
Healthcare Services Group, Inc.		64,472		1,944,476
Heidrick & Struggles International, Inc.		14,279		285,866
Heritage-Crystal Clean, Inc. *		8,861		146,207
Herman Miller, Inc.		54,352		1,651,757
HNI Corp.		41,558		1,950,733
Huron Consulting Group, Inc. *		21,243		1,469,166
ICF International, Inc. *		17,661		684,894
InnerWorkings, Inc. *		29,476		220,480
Insperity, Inc.		22,103		721,663
Interface, Inc.		56,799		858,801
KAR Auction Services, Inc.		122,610		4,248,436
Kelly Services, Inc., Class A		26,268		405,578
Kforce, Inc.		27,724		647,078
Kimball International, Inc., Class B		29,310		275,221
Knoll, Inc.		45,666		846,191
Korn/Ferry International *		43,413		1,178,663
Matthews International Corp., Class A		26,554		1,223,343
McGrath RentCorp		20,466		721,631
Mistras Group, Inc. *		13,492		230,578
Mobile Mini, Inc.		42,252		1,753,035
MSA Safety, Inc.		28,507		1,565,890
Multi-Color Corp.		12,392		679,577
Navigant Consulting, Inc. *		42,268		591,752
NL Industries, Inc.		8,655		65,691
On Assignment, Inc. *		44,834		1,377,749
Paylocity Holding Corp. *		6,269		182,365
Pendrell Corp. *		83,980		118,412
Performant Financial Corp. *		14,860		101,048
Pitney Bowes, Inc.		177,398		4,367,539
Quad/Graphics, Inc.		25,512		553,866
R.R. Donnelley & Sons Co.		174,840		2,944,306
Resources Connection, Inc.		37,373		566,948
RPX Corp. *		51,219		671,993
SP Plus Corp. *		15,240		316,687
Steelcase, Inc., Class A		76,343		1,337,529
Team, Inc. *		16,561		672,542
Tetra Tech, Inc.		55,375		1,505,092
The Advisory Board Co. *		31,693		1,350,122
The Brink’s Co.		43,641		947,010
The Corporate Executive Board Co.		31,062		2,274,049
TriNet Group, Inc. *		22,859		723,716
TrueBlue, Inc. *		35,797		821,541
UniFirst Corp.		13,480		1,504,233
United Stationers, Inc.		33,674		1,382,654
US Ecology, Inc.		17,635		702,226
Viad Corp.		18,692		449,169
WageWorks, Inc. *		29,732		1,736,943
West Corp.		19,565		611,211
				69,069,913
Consumer Durables & Apparel 2.4%
Arctic Cat, Inc.		10,241		338,465
Beazer Homes USA, Inc. *		24,274		484,024
Brunswick Corp.		81,706		4,059,154
Callaway Golf Co.		64,821		480,324
Cavco Industries, Inc. *		6,146		455,603
Columbia Sportswear Co.		22,422		1,010,111
Crocs, Inc. *		79,209		1,051,895
Deckers Outdoor Corp. *		30,526		2,952,475
Ethan Allen Interiors, Inc.		24,597		728,317
G-III Apparel Group Ltd. *		16,767		1,483,712

4 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
GoPro, Inc., Class A *(a)		22,227		1,733,039
Helen of Troy Ltd. *		23,213		1,500,953
Hovnanian Enterprises, Inc., Class A *(a)		98,402		423,129
Iconix Brand Group, Inc. *		42,290		1,708,939
Installed Building Products, Inc. *		15,168		257,856
iRobot Corp. *(a)		26,715		972,960
Kate Spade & Co. *		111,493		3,571,121
KB Home		79,691		1,400,171
La-Z-Boy, Inc.		48,429		1,258,670
LeapFrog Enterprises, Inc. *		40,255		219,792
LGI Homes, Inc. *(a)		9,004		143,884
Libbey, Inc. *		19,839		596,162
M.D.C Holdings, Inc.		38,414		1,010,672
M/I Homes, Inc. *		23,740		544,121
Marine Products Corp.		11,621		76,118
Meritage Homes Corp. *		34,184		1,340,696
Movado Group, Inc.		14,732		423,250
NACCO Industries, Inc., Class A		5,496		318,988
Oxford Industries, Inc.		13,240		876,885
Perry Ellis International, Inc. *		11,625		306,784
Quiksilver, Inc. *(a)		89,280		182,131
Skechers U.S.A., Inc., Class A *		36,468		2,239,500
Smith & Wesson Holding Corp. *(a)		52,954		527,951
Standard Pacific Corp. *		138,170		1,043,183
Steven Madden Ltd. *		50,857		1,734,224
Sturm Ruger & Co., Inc. (a)		16,407		624,943
Taylor Morrison Home Corp., Class A *		26,172		506,166
Tempur Sealy International, Inc. *		53,329		3,042,419
The Ryland Group, Inc.		42,818		1,675,468
TRI Pointe Homes, Inc. *		127,464		1,945,101
Tumi Holdings, Inc. *		56,357		1,233,655
Tupperware Brands Corp.		44,016		2,960,076
Unifi, Inc. *		11,263		320,770
Universal Electronics, Inc. *		14,468		875,459
Vera Bradley, Inc. *		21,678		498,377
Vince Holding Corp. *		13,087		485,920
WCI Communities, Inc. *		6,956		129,382
William Lyon Homes, Class A *		15,923		327,695
Wolverine World Wide, Inc.		88,388		2,696,718
				54,777,408
Consumer Services 4.2%
2U, Inc. *		8,463		153,011
American Public Education, Inc. *		16,838		565,757
Apollo Education Group, Inc. *		85,438		2,667,374
Ascent Capital Group, Inc., Class A *		11,606		624,635
Belmond Ltd., Class A *		79,355		898,299
Biglari Holdings, Inc. *		1,434		532,659
BJ’s Restaurants, Inc. *		19,801		973,417
Bloomin’ Brands, Inc. *		92,850		2,114,194
Bob Evans Farms, Inc.		20,814		1,131,449
Boyd Gaming Corp. *		72,728		929,464
Bravo Brio Restaurant Group, Inc. *		14,641		192,236
Bridgepoint Education, Inc. *		15,333		164,063
Bright Horizons Family Solutions, Inc. *		27,014		1,207,526
Brinker International, Inc.		56,928		3,206,754
Buffalo Wild Wings, Inc. *		16,598		2,825,146
Caesars Entertainment Corp. *(a)		34,956		592,854
Capella Education Co.		10,360		706,345
Carriage Services, Inc.		13,285		255,205
Chegg, Inc. *(a)		44,701		302,179
Choice Hotels International, Inc.		30,604		1,695,768
Churchill Downs, Inc.		11,081		1,066,989
Chuy’s Holdings, Inc. *		14,735		315,476
ClubCorp Holdings, Inc.		21,931		432,260
Cracker Barrel Old Country Store, Inc.		20,688		2,648,271
Del Frisco’s Restaurant Group, Inc. *		22,659		503,483
Denny’s Corp. *		68,801		666,682
DeVry Education Group, Inc.		49,789		2,432,691
Diamond Resorts International, Inc. *		41,498		1,003,422
DineEquity, Inc.		14,636		1,453,794
Domino’s Pizza, Inc.		48,288		4,531,829
El Pollo Loco Holdings, Inc. *		6,116		167,701
Fiesta Restaurant Group, Inc. *		22,988		1,288,707
Graham Holdings Co., Class B		3,805		3,376,899
Grand Canyon Education, Inc. *		40,498		1,849,544
Houghton Mifflin Harcourt Co. *		96,894		1,862,303
International Speedway Corp., Class A		26,135		817,503
Interval Leisure Group, Inc.		37,883		823,576
Intrawest Resorts Holdings, Inc. *		15,022		161,036
Isle of Capri Casinos, Inc. *		20,439		147,978
Jack in the Box, Inc.		33,850		2,521,825
K12, Inc. *		26,095		300,093
Krispy Kreme Doughnuts, Inc. *		58,065		1,182,203
La Quinta Holdings, Inc. *		52,033		1,145,767
Life Time Fitness, Inc. *		31,510		1,745,024
LifeLock, Inc. *		63,228		1,043,894
Marriott Vacations Worldwide Corp.		25,306		1,860,244
Multimedia Games Holding Co., Inc. *		25,734		933,887
Noodles & Co. *		10,048		245,975
Panera Bread Co., Class A *		22,423		3,753,610
Papa John’s International, Inc.		27,968		1,476,151
Penn National Gaming, Inc. *		59,243		841,251
Pinnacle Entertainment, Inc. *		53,488		1,331,316
Popeyes Louisiana Kitchen, Inc. *		20,046		1,107,341
Potbelly Corp. *(a)		16,313		215,005
Red Robin Gourmet Burgers, Inc. *		12,470		839,854
Regis Corp. *		41,908		693,158
Ruby Tuesday, Inc. *		58,117		484,696
Ruth’s Hospitality Group, Inc.		29,087		382,203
Scientific Games Corp., Class A *		39,112		592,156
SeaWorld Entertainment, Inc.		58,318		973,327
Service Corp. International		184,513		4,169,994
ServiceMaster Global Holdings, Inc. *		30,278		795,100
Six Flags Entertainment Corp.		78,883		3,206,594
Sonic Corp.		45,310		1,231,979
Sotheby’s		53,888		2,177,614
Speedway Motorsports, Inc.		9,485		186,949
Steiner Leisure Ltd. *		11,343		502,155
Strayer Education, Inc. *		10,064		761,744

5

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Texas Roadhouse, Inc.		57,221		1,891,726
The Cheesecake Factory, Inc.		40,293		1,951,390
The Marcus Corp.		17,926		295,062
The Wendy’s Co.		236,621		2,063,335
Universal Technical Institute, Inc.		15,829		165,888
Vail Resorts, Inc.		31,645		2,773,368
Weight Watchers International, Inc. *(a)		26,244		761,076
Zoe’s Kitchen, Inc. *(a)		15,558		492,100
				94,383,533
Diversified Financials 2.9%
Arlington Asset Investment Corp., Class A		20,611		574,016
Artisan Partners Asset Management, Inc., Class A		24,205		1,252,609
Ashford, Inc. *		774		91,913
BGC Partners, Inc., Class A		146,382		1,274,987
Cash America International, Inc.		25,195		615,010
CBOE Holdings, Inc.		74,634		4,471,323
Cohen & Steers, Inc. (a)		18,294		791,581
Cowen Group, Inc., Class A *		103,687		439,633
Credit Acceptance Corp. *		7,602		1,138,399
Diamond Hill Investment Group, Inc.		2,330		316,134
E*TRADE Financial Corp. *		259,234		5,913,128
Encore Capital Group, Inc. *		21,852		937,669
Enova International, Inc. *		23,047		529,851
Evercore Partners, Inc., Class A		32,887		1,660,793
Ezcorp, Inc., Class A *		42,599		463,903
Federated Investors, Inc., Class B		83,443		2,623,448
Financial Engines, Inc.		44,727		1,461,678
First Cash Financial Services, Inc. *		25,950		1,499,391
FNFV Group *		78,079		1,114,187
FXCM, Inc., Class A		34,313		552,439
GAMCO Investors, Inc., Class A		3,925		338,178
GFI Group, Inc.		64,233		319,880
Green Dot Corp., Class A *		26,772		589,252
Greenhill & Co., Inc.		23,672		1,049,143
HFF, Inc., Class A		30,398		1,048,123
Interactive Brokers Group, Inc., Class A		47,562		1,299,394
INTL FCStone, Inc. *		13,129		231,727
Investment Technology Group, Inc. *		28,814		569,077
Janus Capital Group, Inc.		134,602		2,115,943
JG Wentworth Co. *		9,195		87,628
KCG Holdings, Inc., Class A *		67,901		749,627
Ladenburg Thalmann Financial Services, Inc. *		93,153		311,131
Marcus & Millichap, Inc. *		6,460		200,454
MarketAxess Holdings, Inc.		34,131		2,237,970
Moelis & Co., Class A (a)		6,033		194,444
Nelnet, Inc., Class A		17,382		796,791
NewStar Financial, Inc. *		21,001		236,051
NorthStar Asset Management Group, Inc.		159,122		3,333,606
PHH Corp. *		51,788		1,199,410
PICO Holdings, Inc. *		22,966		420,737
Piper Jaffray Cos. *		14,235		817,089
PRA Group, Inc. *		43,860		2,566,687
Pzena Investment Management, Inc., Class A		10,580		91,729
RCS Capital Corp., Class A (a)		29,060		289,147
Safeguard Scientifics, Inc. *		20,937		406,806
SLM Corp.		369,179		3,573,653
Springleaf Holdings, Inc. *		21,226		841,611
Stifel Financial Corp. *		57,126		2,772,325
TPG Specialty Lending, Inc. (a)		25,229		450,338
Virtus Investment Partners, Inc.		6,487		998,998
Waddell & Reed Financial, Inc., Class A		73,988		3,557,343
Walter Investment Management Corp. *(a)		34,950		651,468
Westwood Holdings Group, Inc.		6,948		414,031
WisdomTree Investments, Inc.		95,934		1,457,237
World Acceptance Corp. *(a)		8,641		659,568
				64,598,688
Energy 4.4%
Alon USA Energy, Inc.		22,943		320,284
Alpha Natural Resources, Inc. *(a)		203,220		422,698
Apco Oil & Gas International, Inc. *		7,536		104,901
Approach Resources, Inc. *(a)		34,172		332,152
Arch Coal, Inc. (a)		198,543		440,765
Atwood Oceanics, Inc. *		53,185		1,706,707
Basic Energy Services, Inc. *		33,236		296,797
Bill Barrett Corp. *		43,398		439,622
Bonanza Creek Energy, Inc. *		27,602		751,326
BPZ Resources, Inc. *(a)		67,863		40,718
Bristow Group, Inc.		29,598		1,897,232
C&J Energy Services, Inc. *		42,789		648,253
CARBO Ceramics, Inc. (a)		17,193		654,022
Carrizo Oil & Gas, Inc. *		37,517		1,480,421
CHC Group Ltd. *		31,431		144,583
Clayton Williams Energy, Inc. *		5,610		325,043
Clean Energy Fuels Corp. *(a)		63,958		367,119
Cloud Peak Energy, Inc. *		51,385		599,663
Comstock Resources, Inc.		37,638		333,473
Contango Oil & Gas Co. *		13,032		440,612
Delek US Holdings, Inc.		46,693		1,396,121
Diamondback Energy, Inc. *		49,520		2,792,928
Dril-Quip, Inc. *		34,965		2,788,459
Eclipse Resources Corp. *(a)		25,025		270,020
Energen Corp.		64,378		3,844,654
Energy XXI Ltd. (a)		84,783		339,980
EP Energy Corp., Class A *		32,505		347,478
Era Group, Inc. *		17,271		363,555
Evolution Petroleum Corp.		24,381		191,635
EXCO Resources, Inc. (a)		141,243		415,254
Exterran Holdings, Inc.		60,295		2,019,883
Forum Energy Technologies, Inc. *		56,459		1,355,581
Frank’s International N.V. (a)		30,642		550,943
Geospace Technologies Corp. *		12,277		323,622
Goodrich Petroleum Corp. *(a)		32,100		194,205
Green Plains, Inc.		31,451		943,845
Gulf Island Fabrication, Inc.		11,696		228,189
Gulfmark Offshore, Inc., Class A		22,094		575,549
Gulfport Energy Corp. *		75,002		3,579,845
Halcon Resources Corp. *(a)		217,232		493,117

6 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Helix Energy Solutions Group, Inc. *		85,930		1,965,219
Hercules Offshore, Inc. *(a)		134,107		166,293
Hornbeck Offshore Services, Inc. *		28,276		750,445
ION Geophysical Corp. *		110,813		273,708
Isramco, Inc. *(a)		1,010		137,380
Jones Energy, Inc., Class A *		12,396		125,819
Key Energy Services, Inc. *		124,414		233,898
Kodiak Oil & Gas Corp. *		235,307		1,724,800
Kosmos Energy Ltd. *		97,615		814,109
Laredo Petroleum, Inc. *		71,299		745,075
Magnum Hunter Resources Corp. *(a)		166,650		666,600
Matador Resources Co. *		59,520		1,046,957
Matrix Service Co. *		21,701		458,325
McDermott International, Inc. *		214,087		760,009
Memorial Resource Development Corp. *(a)		66,525		1,436,940
Midstates Petroleum Co., Inc. *(a)		18,201		41,680
Natural Gas Services Group, Inc. *		11,362		263,144
Newfield Exploration Co. *		120,023		3,268,226
Newpark Resources, Inc. *		73,198		766,383
Northern Oil & Gas, Inc. *(a)		49,754		432,362
Nuverra Environmental Solutions, Inc. *(a)		17,345		158,360
Oil States International, Inc. *		47,442		2,364,984
Paragon Offshore plc (a)		71,198		258,449
Parker Drilling Co. *		105,811		375,629
Parsley Energy, Inc., Class A *		42,229		533,775
Patterson-UTI Energy, Inc.		128,324		2,270,052
PBF Energy, Inc., Class A		79,312		2,241,357
PDC Energy, Inc. *		32,422		956,773
Penn Virginia Corp. *		65,611		336,584
PetroQuest Energy, Inc. *		50,832		189,095
PHI, Inc. *		12,422		515,637
Pioneer Energy Services Corp. *		60,153		363,324
Resolute Energy Corp. *(a)		58,807		110,557
REX American Resources Corp. *		4,301		272,124
Rex Energy Corp. *		41,818		293,562
Rice Energy, Inc. *		55,712		1,387,229
RigNet, Inc. *		10,853		444,430
Rosetta Resources, Inc. *		54,222		1,595,211
Rowan Cos. plc, Class A		112,761		2,454,807
RPC, Inc.		57,338		762,022
RSP Permian, Inc. *(a)		33,246		723,433
Sanchez Energy Corp. *(a)		45,734		516,337
SandRidge Energy, Inc. *(a)		354,069		994,934
SEACOR Holdings, Inc. *		16,153		1,149,124
SemGroup Corp., Class A		37,440		2,770,186
Seventy Seven Energy, Inc. *		30,237		235,244
Solazyme, Inc. *(a)		49,689		114,285
Stone Energy Corp. *		51,402		812,152
Swift Energy Co. *(a)		39,350		177,075
Synergy Resources Corp. *		62,745		615,528
Targa Resources Corp.		25,890		2,955,085
Teekay Corp.		39,724		1,975,077
Tesco Corp.		28,604		403,030
TETRA Technologies, Inc. *		76,126		483,400
Tidewater, Inc.		45,586		1,409,063
TransAtlantic Petroleum Ltd. *		13,922		96,201
Triangle Petroleum Corp. *(a)		65,804		317,175
Ultra Petroleum Corp. *(a)		134,691		2,673,616
Unit Corp. *		40,448		1,545,923
US Silica Holdings, Inc.		47,240		1,484,281
VAALCO Energy, Inc. *		37,691		215,969
Vantage Drilling Co. *(a)		189,937		146,251
W&T Offshore, Inc.		32,753		246,630
Western Refining, Inc.		65,660		2,699,283
Willbros Group, Inc. *		32,438		147,593
World Fuel Services Corp.		63,225		2,862,828
WPX Energy, Inc. *		177,754		2,412,122
				98,904,412
Food & Staples Retailing 0.9%
Casey’s General Stores, Inc.		33,109		2,771,885
Ingles Markets, Inc., Class A		10,125		274,792
Natural Grocers by Vitamin Cottage, Inc. *		7,930		178,266
PriceSmart, Inc.		16,925		1,641,048
Rite Aid Corp. *		798,612		4,376,394
SpartanNash Co.		34,679		809,061
SUPERVALU, Inc. *		177,457		1,660,998
The Andersons, Inc.		23,135		1,250,215
The Chefs’ Warehouse, Inc. *		17,466		300,765
The Fresh Market, Inc. *		39,099		1,601,495
The Pantry, Inc. *		21,582		573,002
United Natural Foods, Inc. *		44,110		3,316,631
Village Super Market, Inc., Class A		4,010		96,280
Weis Markets, Inc.		10,347		477,204
				19,328,036
Food, Beverage & Tobacco 1.8%
Alico, Inc.		2,748		98,241
B&G Foods, Inc.		46,945		1,343,566
Boulder Brands, Inc. *		53,270		575,316
Cal-Maine Foods, Inc. (a)		25,775		1,079,457
Calavo Growers, Inc.		12,124		520,605
Chiquita Brands International, Inc. *		43,086		623,023
Coca-Cola Bottling Co. Consolidated		3,959		374,363
Darling Ingredients, Inc. *		143,397		2,667,184
Dean Foods Co.		84,286		1,437,076
Diamond Foods, Inc. *		22,996		685,051
Fresh Del Monte Produce, Inc.		29,952		1,011,179
J&J Snack Foods Corp.		13,363		1,403,783
Lancaster Colony Corp.		17,706		1,662,593
Limoneira Co.		8,797		225,643
National Beverage Corp. *		10,846		272,668
Pinnacle Foods, Inc.		73,891		2,514,511
Post Holdings, Inc. *		38,393		1,535,720
Sanderson Farms, Inc. (a)		17,881		1,552,250
Seaboard Corp. *		235		810,748
Seneca Foods Corp., Class A *		7,117		192,515
Snyder’s-Lance, Inc.		47,796		1,447,263
The Boston Beer Co., Inc., Class A *		7,616		2,002,779
The Hain Celestial Group, Inc. *		44,053		4,987,681
The WhiteWave Foods Co. *		152,393		5,582,156
Tootsie Roll Industries, Inc. (a)		15,019		437,654
TreeHouse Foods, Inc. *		36,911		2,987,945
Universal Corp.		21,043		841,510

7

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Vector Group Ltd.		61,921		1,346,782
				40,219,262
Health Care Equipment & Services 5.9%
Abaxis, Inc.		18,569		1,065,861
ABIOMED, Inc. *		34,184		1,214,216
Acadia Healthcare Co., Inc. *		40,007		2,480,834
Accuray, Inc. *(a)		62,725		432,175
Air Methods Corp. *		30,937		1,372,984
Alere, Inc. *		68,405		2,728,675
Align Technology, Inc. *		63,323		3,603,079
Allscripts Healthcare Solutions, Inc. *		145,090		1,743,982
Amedisys, Inc. *		30,338		771,192
AMN Healthcare Services, Inc. *		35,234		603,206
Amsurg Corp. *		39,523		2,038,201
Analogic Corp.		11,655		848,950
AngioDynamics, Inc. *		24,291		425,093
Antares Pharma, Inc. *(a)		75,630		173,949
athenahealth, Inc. *		33,197		3,894,008
Atrion Corp.		1,243		403,987
Bio-Reference Laboratories, Inc. *		22,817		645,721
BioScrip, Inc. *		45,181		292,773
Brookdale Senior Living, Inc. *		159,871		5,662,631
Cantel Medical Corp.		32,523		1,416,051
Capital Senior Living Corp. *		25,329		644,623
Cardiovascular Systems, Inc. *		23,623		724,281
Castlight Health, Inc., Class B *(a)		10,351		128,663
Centene Corp. *		50,940		5,031,344
Chemed Corp.		15,885		1,749,097
Computer Programs & Systems, Inc.		8,519		500,406
CONMED Corp.		23,509		997,487
CorVel Corp. *		7,265		251,805
Cyberonics, Inc. *		22,811		1,214,686
Cynosure, Inc., Class A *		19,323		532,735
DexCom, Inc. *		61,288		3,153,881
Endologix, Inc. *		61,468		788,634
Exactech, Inc. *		8,283		183,717
ExamWorks Group, Inc. *		29,739		1,170,230
GenMark Diagnostics, Inc. *		34,920		396,691
Gentiva Health Services, Inc. *		29,175		566,287
Globus Medical, Inc., Class A *		58,001		1,336,343
Greatbatch, Inc. *		22,764		1,128,411
Haemonetics Corp. *		44,917		1,658,785
Hanger, Inc. *		33,629		721,342
Health Net, Inc. *		70,369		3,615,559
HealthEquity, Inc. *		6,761		167,876
HealthSouth Corp.		76,607		3,150,846
HealthStream, Inc. *		20,108		576,094
Healthways, Inc. *		31,497		490,723
HeartWare International, Inc. *		13,778		1,013,096
Hill-Rom Holdings, Inc.		49,980		2,287,085
HMS Holdings Corp. *		78,778		1,643,309
ICU Medical, Inc. *		12,225		1,023,110
Insulet Corp. *		49,035		2,284,541
Integra LifeSciences Holdings Corp. *		22,275		1,096,821
Invacare Corp.		26,099		394,878
IPC The Hospitalist Co., Inc. *		14,437		636,383
K2M Group Holdings, Inc. *		8,137		153,871
Kindred Healthcare, Inc.		56,334		1,120,483
Landauer, Inc.		9,575		315,975
LDR Holding Corp. *		13,433		438,319
LHC Group, Inc. *		13,295		312,565
LifePoint Hospitals, Inc. *		39,465		2,730,583
Magellan Health, Inc. *		25,894		1,584,454
Masimo Corp. *		43,885		1,151,981
MedAssets, Inc. *		52,108		1,007,769
Medidata Solutions, Inc. *		48,294		2,062,637
Meridian Bioscience, Inc.		34,801		572,476
Merit Medical Systems, Inc. *		35,005		518,074
Molina Healthcare, Inc. *		25,481		1,302,589
MWI Veterinary Supply, Inc. *		11,209		1,831,775
National Healthcare Corp.		6,922		417,051
National Research Corp., Class A *		7,965		112,784
Natus Medical, Inc. *		26,770		916,337
Neogen Corp. *		31,465		1,394,214
NuVasive, Inc. *		42,589		1,870,935
NxStage Medical, Inc. *		52,171		901,515
Omnicell, Inc. *		33,903		1,091,677
OraSure Technologies, Inc. *		53,179		479,143
Orthofix International N.V. *		17,267		482,095
Owens & Minor, Inc.		56,393		1,929,205
PharMerica Corp. *		28,500		621,585
Quality Systems, Inc.		40,810		601,131
Quidel Corp. *		25,154		700,790
Select Medical Holdings Corp.		87,555		1,263,419
STERIS Corp.		51,975		3,313,406
Surgical Care Affiliates, Inc. *		8,403		267,215
SurModics, Inc. *		12,580		264,306
Symmetry Medical, Inc. *		31,621		284,905
Tandem Diabetes Care, Inc. *		7,456		105,353
Team Health Holdings, Inc. *		61,772		3,530,888
Teleflex, Inc.		35,974		4,286,302
The Ensign Group, Inc.		17,787		701,164
The Providence Service Corp. *		11,362		444,595
The Spectranetics Corp. *		38,045		1,249,017
Thoratec Corp. *		48,606		1,516,021
Tornier N.V. *		33,612		897,104
Triple-S Management Corp., Class B *		20,831		481,613
Universal American Corp. *		33,518		294,958
US Physical Therapy, Inc.		12,277		477,207
Vascular Solutions, Inc. *		14,150		363,938
VCA, Inc. *		75,279		3,562,955
Veeva Systems, Inc., Class A *		31,441		1,032,837
Volcano Corp. *		47,094		520,860
WellCare Health Plans, Inc. *		38,396		2,831,321
West Pharmaceutical Services, Inc.		61,961		3,222,592
Wright Medical Group, Inc. *		46,312		1,356,478
Zeltiq Aesthetics, Inc. *		24,532		671,441
				132,639,245
Household & Personal Products 0.4%
Central Garden & Pet Co., Class A *		37,404		308,583
Elizabeth Arden, Inc. *		25,313		439,940
Harbinger Group, Inc. *		95,084		1,304,552
Inter Parfums, Inc.		16,678		427,791
Medifast, Inc. *		12,213		360,284

8 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Nu Skin Enterprises, Inc., Class A (a)		52,675		2,201,815
Revlon, Inc., Class A *		10,923		360,022
Spectrum Brands Holdings, Inc.		18,328		1,685,626
Synutra International, Inc. *(a)		5,262		27,994
USANA Health Sciences, Inc. *		6,113		651,890
WD-40 Co.		13,020		990,822
				8,759,319
Insurance 3.6%
Allied World Assurance Co. Holdings AG		84,239		3,175,810
Ambac Financial Group, Inc. *		42,472		1,043,112
American Equity Investment Life Holding Co.		66,925		1,806,975
American National Insurance Co.		7,538		865,212
AMERISAFE, Inc.		17,577		732,785
AmTrust Financial Services, Inc. (a)		25,994		1,334,012
Argo Group International Holdings Ltd.		24,025		1,355,971
Aspen Insurance Holdings Ltd.		57,399		2,538,758
Assurant, Inc.		62,571		4,229,174
Assured Guaranty Ltd.		148,350		3,791,826
Baldwin & Lyons, Inc., Class B		8,283		211,631
Citizens, Inc. *(a)		24,413		177,971
CNO Financial Group, Inc.		186,862		3,240,187
Crawford & Co., Class B		21,656		194,254
Donegal Group, Inc., Class A		6,613		103,626
eHealth, Inc. *		17,614		455,674
EMC Insurance Group, Inc.		3,753		111,727
Employers Holdings, Inc.		29,604		600,369
Endurance Specialty Holdings Ltd.		39,062		2,303,877
Enstar Group Ltd. *		9,721		1,418,780
FBL Financial Group, Inc., Class A		10,125		520,526
Fidelity & Guaranty Life		9,462		236,834
First American Financial Corp.		93,843		3,003,914
Global Indemnity plc *		9,572		257,583
Greenlight Capital Re Ltd., Class A *		25,260		796,195
Hilltop Holdings, Inc. *		61,490		1,253,166
Horace Mann Educators Corp.		38,214		1,196,098
Infinity Property & Casualty Corp.		10,031		728,852
Kansas City Life Insurance Co.		2,875		136,879
Kemper Corp.		43,566		1,536,137
Maiden Holdings Ltd.		48,823		637,628
MBIA, Inc. *		124,187		1,281,610
Meadowbrook Insurance Group, Inc.		40,426		246,194
Mercury General Corp.		31,795		1,753,812
Montpelier Re Holdings Ltd.		33,627		1,144,999
National General Holdings Corp.		41,740		782,625
National Interstate Corp.		5,844		167,314
National Western Life Insurance Co., Class A		1,730		444,351
Old Republic International Corp.		212,496		3,215,065
OneBeacon Insurance Group Ltd., Class A		19,257		306,571
Platinum Underwriters Holdings Ltd.		21,772		1,614,829
Primerica, Inc.		47,435		2,487,017
ProAssurance Corp.		49,891		2,249,585
Protective Life Corp.		70,075		4,884,928
RLI Corp.		30,729		1,411,383
Safety Insurance Group, Inc.		12,669		754,059
Selective Insurance Group, Inc.		51,150		1,369,286
StanCorp Financial Group, Inc.		38,109		2,519,005
State Auto Financial Corp.		12,994		255,722
Stewart Information Services Corp.		17,578		623,843
Symetra Financial Corp.		86,248		1,954,380
The Hanover Insurance Group, Inc.		38,539		2,747,060
The Navigators Group, Inc. *		8,873		648,173
Third Point Reinsurance Ltd. *		40,274		596,458
United Fire Group, Inc.		21,037		586,301
Validus Holdings Ltd.		75,753		3,143,750
White Mountains Insurance Group Ltd.		5,518		3,497,143
				80,681,006
Materials 5.5%
A. Schulman, Inc.		24,971		955,390
Advanced Emissions Solutions, Inc. *		19,107		382,140
AK Steel Holding Corp. *		148,810		880,955
Allegheny Technologies, Inc.		95,447		3,215,609
Allied Nevada Gold Corp. *(a)		67,272		98,217
American Vanguard Corp. (a)		24,430		266,043
AptarGroup, Inc.		57,023		3,720,751
Axiall Corp.		61,439		2,659,080
Balchem Corp.		27,309		1,775,085
Bemis Co., Inc.		87,601		3,498,784
Berry Plastics Group, Inc. *		102,978		2,980,183
Boise Cascade Co. *		34,981		1,248,472
Cabot Corp.		54,987		2,368,840
Calgon Carbon Corp. *		47,517		969,822
Carpenter Technology Corp.		46,587		2,348,917
Century Aluminum Co. *		45,137		1,248,038
Chemtura Corp. *		79,114		1,843,356
Clearwater Paper Corp. *		17,008		1,126,950
Cliffs Natural Resources, Inc. (a)		132,228		1,205,919
Coeur Mining, Inc. *		86,027		353,571
Commercial Metals Co.		106,161		1,734,671
Compass Minerals International, Inc.		29,409		2,560,053
Cytec Industries, Inc.		65,263		3,139,150
Deltic Timber Corp.		10,874		676,907
Domtar Corp.		56,495		2,299,347
Eagle Materials, Inc.		43,253		3,563,615
Ferro Corp. *		74,070		953,281
Flotek Industries, Inc. *		42,570		829,264
FutureFuel Corp.		21,712		242,306
Globe Specialty Metals, Inc.		56,175		973,513
Gold Resource Corp. (a)		39,741		143,068
Graphic Packaging Holding Co. *		287,835		3,583,546
Greif, Inc., Class A		27,495		1,205,656
H.B. Fuller Co.		43,471		1,877,513
Hawkins, Inc.		9,532		375,942
Haynes International, Inc.		10,403		466,991
Headwaters, Inc. *		61,804		865,256
Hecla Mining Co.		327,975		774,021
Horsehead Holding Corp. *		44,039		687,889
Innophos Holdings, Inc.		19,026		1,028,926
Innospec, Inc.		22,633		970,050

9

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Intrepid Potash, Inc. *		52,331		746,763
Kaiser Aluminum Corp.		16,602		1,208,294
KapStone Paper & Packaging Corp. *		73,895		2,207,244
Koppers Holdings, Inc.		19,557		570,673
Kraton Performance Polymers, Inc. *		30,662		564,181
Kronos Worldwide, Inc.		19,458		253,149
Landec Corp. *		22,737		298,764
Louisiana-Pacific Corp. *		121,477		1,851,309
LSB Industries, Inc. *		18,704		618,541
Materion Corp.		19,107		664,350
McEwen Mining, Inc. *(a)		217,222		291,077
Mercer International, Inc. *		41,375		549,874
Minerals Technologies, Inc.		31,206		2,316,421
Molycorp, Inc. *(a)		134,711		133,364
Myers Industries, Inc.		25,486		414,657
Neenah Paper, Inc.		15,272		874,169
NewMarket Corp.		9,291		3,658,053
Olin Corp.		68,272		1,717,724
OM Group, Inc.		27,681		753,200
OMNOVA Solutions, Inc. *		34,115		227,888
P.H. Glatfelter Co.		37,206		942,056
Platform Specialty Products Corp. *		95,523		2,389,030
PolyOne Corp.		80,608		3,006,678
Quaker Chemical Corp.		12,277		999,716
Rayonier Advanced Materials, Inc. (a)		36,445		898,369
Rentech, Inc. *		157,521		203,202
Resolute Forest Products, Inc. *		84,975		1,423,331
RTI International Metals, Inc. *		25,823		592,121
Schnitzer Steel Industries, Inc., Class A		22,865		521,322
Schweitzer-Mauduit International, Inc.		27,939		1,194,951
Sensient Technologies Corp.		41,619		2,453,440
Silgan Holdings, Inc.		39,696		2,003,060
Sonoco Products Co.		88,394		3,714,316
Steel Dynamics, Inc.		210,518		4,745,076
Stepan Co.		18,364		760,270
Stillwater Mining Co. *		103,595		1,360,202
SunCoke Energy, Inc.		62,977		1,280,322
Taminco Corp. *		25,208		653,139
The Scotts Miracle-Gro Co., Class A		40,766		2,487,949
TimkenSteel Corp.		32,722		1,165,558
Tredegar Corp.		23,640		433,558
Trinseo S.A. *		7,461		114,601
Tronox Ltd., Class A		53,067		1,196,661
United States Lime & Minerals, Inc.		1,518		103,528
United States Steel Corp.		127,308		4,245,722
Valhi, Inc.		14,460		83,434
Walter Energy, Inc. (a)		42,841		136,234
Wausau Paper Corp.		45,451		452,237
Worthington Industries, Inc.		44,659		1,684,091
Zep, Inc.		18,413		250,601
				123,511,557
Media 1.6%
AMC Entertainment Holdings, Inc., Class A		17,096		448,257
Carmike Cinemas, Inc. *		22,035		653,117
Central European Media Enterprises Ltd., Class A *(a)		40,756		115,340
Cinemark Holdings, Inc.		91,361		3,317,318
Clear Channel Outdoor Holdings, Inc., Class A		36,387		282,363
Crown Media Holdings, Inc., Class A *		21,018		71,041
Cumulus Media, Inc., Class A *		105,882		422,469
DreamWorks Animation SKG, Inc., Class A *(a)		62,160		1,481,895
Entercom Communications Corp., Class A *		15,221		161,647
Gray Television, Inc. *		40,726		423,143
Harte-Hanks, Inc.		25,443		155,711
Hemisphere Media Group, Inc. *(a)		11,591		146,163
John Wiley & Sons, Inc., Class A		40,906		2,442,906
Journal Communications, Inc., Class A *		39,412		391,361
Lions Gate Entertainment Corp.		72,043		2,442,258
Live Nation Entertainment, Inc. *		126,419		3,388,029
Loral Space & Communications, Inc. *		11,015		864,567
Media General, Inc. *(a)		47,791		731,680
Meredith Corp.		33,647		1,775,889
Morningstar, Inc.		18,820		1,256,047
National CineMedia, Inc.		56,529		800,451
New Media Investment Group, Inc.		28,525		579,628
Nexstar Broadcasting Group, Inc., Class A		26,872		1,378,802
Regal Entertainment Group, Class A		72,758		1,679,982
Rentrak Corp. *		9,264		779,103
Scholastic Corp.		25,301		898,186
SFX Entertainment, Inc. *(a)		37,415		162,755
Sinclair Broadcast Group, Inc., Class A (a)		63,089		1,839,675
Sizmek, Inc. *		20,318		116,422
Starz, Class A *		74,190		2,447,528
The E.W. Scripps Co., Class A *		25,748		504,146
The McClatchy Co., Class A *		36,779		120,635
The New York Times Co., Class A		111,615		1,416,394
Time, Inc.		95,427		2,284,522
World Wrestling Entertainment, Inc., Class A (a)		25,459		293,033
				36,272,463
Pharmaceuticals, Biotechnology & Life Sciences 5.9%
ACADIA Pharmaceuticals, Inc. *		69,302		2,070,051
Accelerate Diagnostics, Inc. *(a)		19,401		392,288
Acceleron Pharma, Inc. *		8,008		310,230
Achillion Pharmaceuticals, Inc. *		77,287		994,684
Acorda Therapeutics, Inc. *		35,506		1,294,194
Aegerion Pharmaceuticals, Inc. *		26,805		564,781
Affymetrix, Inc. *		65,541		598,389
Agios Pharmaceuticals, Inc. *		5,835		588,226
Akebia Therapeutics, Inc. *(a)		5,707		68,941

10 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Akorn, Inc. *		62,869		2,519,161
Alkermes plc *		127,920		7,038,158
Alnylam Pharmaceuticals, Inc. *		58,244		5,856,434
AMAG Pharmaceuticals, Inc. *		21,756		809,323
Anacor Pharmaceuticals, Inc. *		36,009		1,241,590
Arena Pharmaceuticals, Inc. *(a)		197,033		825,568
ARIAD Pharmaceuticals, Inc. *(a)		159,848		1,136,519
Array BioPharma, Inc. *		103,001		415,094
Auspex Pharmaceuticals, Inc. *		11,818		286,350
Auxilium Pharmaceuticals, Inc. *(a)		41,477		1,433,445
Avanir Pharmaceuticals, Inc. *		166,520		2,484,478
Bio-Rad Laboratories, Inc., Class A *		17,743		2,107,691
Bio-Techne Corp.		32,737		2,999,037
BioCryst Pharmaceuticals, Inc. *		54,784		592,215
Bluebird Bio, Inc. *		16,836		694,148
Bruker Corp. *		99,594		1,910,213
Cambrex Corp. *		26,544		603,876
Catalent, Inc. *		34,512		993,600
Celldex Therapeutics, Inc. *(a)		76,231		1,545,965
Cepheid, Inc. *		61,646		3,395,462
Charles River Laboratories International, Inc. *		40,939		2,650,800
Chimerix, Inc. *		28,423		1,001,627
Clovis Oncology, Inc. *		26,563		1,263,868
Cubist Pharmaceuticals, Inc. *		66,449		5,037,499
Depomed, Inc. *		48,328		748,601
Dyax Corp. *		118,681		1,666,281
Emergent Biosolutions, Inc. *		28,092		698,367
Enanta Pharmaceuticals, Inc. *		9,551		448,324
Endocyte, Inc. *(a)		29,781		193,279
Epizyme, Inc. *		9,987		228,303
Exact Sciences Corp. *(a)		73,000		1,811,860
Exelixis, Inc. *(a)		163,367		271,189
Fluidigm Corp. *		24,497		755,243
Foundation Medicine, Inc. *(a)		16,298		384,959
Genomic Health, Inc. *		16,858		560,697
Halozyme Therapeutics, Inc. *(a)		94,589		830,491
Hyperion Therapeutics, Inc. *		10,633		217,870
ImmunoGen, Inc. *		74,148		762,983
Impax Laboratories, Inc. *		59,919		1,914,412
Infinity Pharmaceuticals, Inc. *		34,705		520,922
Insys Therapeutics, Inc. *(a)		8,552		331,219
Intercept Pharmaceuticals, Inc. *		10,561		1,517,933
Intra-Cellular Therapies, Inc. *(a)		21,031		302,215
Intrexon Corp. *(a)		30,132		799,402
Ironwood Pharmaceuticals, Inc. *		103,440		1,431,610
Isis Pharmaceuticals, Inc. *		103,191		5,344,262
Karyopharm Therapeutics, Inc. *(a)		12,434		520,736
Keryx Biopharmaceuticals, Inc. *(a)		77,483		1,231,980
Kindred Biosciences, Inc. *		7,639		73,487
Kite Pharma, Inc. *(a)		6,133		257,463
KYTHERA Biopharmaceuticals, Inc. *		14,958		572,143
Lannett Co., Inc. *		22,590		1,109,847
Lexicon Pharmaceuticals, Inc. *(a)		221,327		225,754
Ligand Pharmaceuticals, Inc. *		16,417		884,055
Luminex Corp. *		35,593		658,470
MacroGenics, Inc. *		7,923		223,904
MannKind Corp. *(a)		224,246		1,379,113
Merrimack Pharmaceuticals, Inc. *(a)		85,645		784,508
MiMedx Group, Inc. *(a)		79,792		882,500
Momenta Pharmaceuticals, Inc. *		38,630		453,130
Myriad Genetics, Inc. *(a)		65,309		2,189,811
Nektar Therapeutics *		111,657		1,861,322
Neurocrine Biosciences, Inc. *		61,289		1,221,490
NewLink Genetics Corp. *(a)		15,980		624,179
Novavax, Inc. *		216,842		1,157,936
NPS Pharmaceuticals, Inc. *		85,303		2,830,354
OncoMed Pharmaceuticals, Inc. *(a)		10,901		240,149
Ophthotech Corp. *		9,742		420,367
OPKO Health, Inc. *(a)		195,748		1,640,368
Orexigen Therapeutics, Inc. *(a)		107,569		622,825
Organovo Holdings, Inc. *(a)		51,551		325,287
Osiris Therapeutics, Inc. *(a)		16,702		219,631
Pacira Pharmaceuticals, Inc. *		31,442		2,953,347
PAREXEL International Corp. *		47,992		2,808,012
PDL BioPharma, Inc. (a)		149,586		1,235,580
Phibro Animal Health Corp., Class A		11,751		359,111
Portola Pharmaceuticals, Inc. *		38,134		1,072,328
Prestige Brands Holdings, Inc. *		45,586		1,524,852
PTC Therapeutics, Inc. *		19,579		876,160
Raptor Pharmaceutical Corp. *(a)		56,710		545,550
Receptos, Inc. *		26,178		3,541,883
Relypsa, Inc. *		10,836		269,708
Retrophin, Inc. *(a)		17,715		178,922
Revance Therapeutics, Inc. *		11,183		183,849
Sagent Pharmaceuticals, Inc. *		20,325		585,970
Sangamo BioSciences, Inc. *		59,065		713,505
Sarepta Therapeutics, Inc. *(a)		34,323		581,432
SciClone Pharmaceuticals, Inc. *		43,371		368,220
Sequenom, Inc. *(a)		110,961		332,883
Spectrum Pharmaceuticals, Inc. *		46,626		336,173
Sunesis Pharmaceuticals, Inc. *		41,969		98,207
Synageva BioPharma Corp. *		18,241		1,481,169
Synergy Pharmaceuticals, Inc. *(a)		57,561		171,532
Synta Pharmaceuticals Corp. *(a)		62,085		196,809
TESARO, Inc. *		18,352		633,328
The Medicines Co. *		56,560		1,516,374
TherapeuticsMD, Inc. *(a)		87,455		335,827
Theravance Biopharma, Inc. *(a)		21,049		332,995
Theravance, Inc. (a)		67,840		1,026,419
Ultragenyx Pharmaceutical, Inc. *		19,942		869,272
United Therapeutics Corp. *		41,389		5,486,940
Versartis, Inc. *(a)		5,714		102,966
VIVUS, Inc. *(a)		97,452		326,464
XOMA Corp. *		54,012		307,328
ZIOPHARM Oncology, Inc. *(a)		99,367		418,335
				131,846,586
Real Estate 10.6%
Acadia Realty Trust		54,830		1,752,367
AG Mortgage Investment Trust, Inc.		27,724		547,549
Agree Realty Corp.		11,713		360,878
Alexander & Baldwin, Inc.		39,769		1,514,404
Alexander’s, Inc.		2,645		1,063,581
Altisource Portfolio Solutions S.A. *(a)		14,215		743,160
Altisource Residential Corp.		52,218		1,058,981

11

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
American Assets Trust, Inc.		34,172		1,342,960
American Capital Mortgage Investment Corp.		42,768		858,354
American Homes 4 Rent, Class A		117,012		2,012,606
American Residential Properties, Inc. *		21,809		387,546
AmREIT, Inc.		17,222		458,622
Anworth Mortgage Asset Corp.		114,230		616,842
Apollo Commercial Real Estate Finance, Inc.		41,681		695,239
Apollo Residential Mortgage, Inc.		28,477		470,440
ARMOUR Residential REIT, Inc.		327,893		1,288,619
Ashford Hospitality Prime, Inc.		20,532		360,337
Ashford Hospitality Trust, Inc.		68,479		717,660
Associated Estates Realty Corp.		54,771		1,227,966
Aviv REIT, Inc.		19,158		645,625
BioMed Realty Trust, Inc.		170,983		3,667,585
Blackstone Mortgage Trust, Inc., Class A		48,156		1,375,335
Brandywine Realty Trust		153,451		2,372,352
Campus Crest Communities, Inc.		60,743		466,506
Capstead Mortgage Corp.		81,061		1,054,604
CareTrust REIT, Inc. *		17,787		287,616
CBL & Associates Properties, Inc.		149,904		2,915,633
Cedar Realty Trust, Inc.		51,279		348,184
Chambers Street Properties		214,241		1,716,070
Chesapeake Lodging Trust		47,546		1,609,908
Chimera Investment Corp.		897,835		3,034,682
Colony Financial, Inc.		98,467		2,417,365
Columbia Property Trust, Inc.		109,078		2,748,766
CoreSite Realty Corp.		18,528		705,176
Corporate Office Properties Trust		80,407		2,260,241
Cousins Properties, Inc.		184,819		2,262,185
CubeSmart		140,292		3,021,890
CyrusOne, Inc.		33,376		916,171
CYS Investments, Inc.		143,734		1,326,665
DCT Industrial Trust, Inc.		72,807		2,484,903
DiamondRock Hospitality Co.		171,498		2,560,465
Douglas Emmett, Inc.		120,029		3,341,607
DuPont Fabros Technology, Inc.		58,945		1,921,018
Dynex Capital, Inc.		35,653		306,616
EastGroup Properties, Inc.		27,045		1,817,965
Education Realty Trust, Inc.		125,053		1,455,617
Empire State Realty Trust, Inc., Class A		89,721		1,503,724
EPR Properties		50,354		2,819,320
Equity Commonwealth		114,159		2,903,063
Equity LifeStyle Properties, Inc.		69,212		3,433,607
Equity One, Inc.		61,546		1,491,260
Excel Trust, Inc.		50,268		659,013
FelCor Lodging Trust, Inc.		104,822		1,092,245
First Industrial Realty Trust, Inc.		96,204		1,909,649
First Potomac Realty Trust		53,844		666,589
Forest City Enterprises, Inc., Class A *		149,108		3,219,242
Forestar Group, Inc. *		33,315		533,040
Franklin Street Properties Corp.		83,171		999,715
Gaming & Leisure Properties, Inc.		78,953		2,518,601
Getty Realty Corp.		24,573		445,263
Glimcher Realty Trust		130,516		1,795,900
Government Properties Income Trust		62,585		1,421,931
Hatteras Financial Corp.		83,868		1,606,911
Healthcare Realty Trust, Inc.		87,819		2,319,300
Healthcare Trust of America, Inc., Class A		209,877		2,678,030
Hersha Hospitality Trust		178,701		1,324,174
Highwoods Properties, Inc.		79,349		3,424,703
Home Properties, Inc.		50,052		3,262,890
Hospitality Properties Trust		130,851		4,004,041
Hudson Pacific Properties, Inc.		46,224		1,299,819
Inland Real Estate Corp.		71,799		774,711
Invesco Mortgage Capital, Inc.		106,521		1,760,792
Investors Real Estate Trust		100,278		818,268
iStar Financial, Inc. *		71,160		1,016,876
Kennedy-Wilson Holdings, Inc.		71,239		1,851,502
Kite Realty Group Trust		74,760		2,039,453
LaSalle Hotel Properties		91,328		3,686,911
Lexington Realty Trust		188,929		2,078,219
LTC Properties, Inc.		31,184		1,303,179
Mack-Cali Realty Corp.		73,464		1,411,978
Medical Properties Trust, Inc.		152,209		2,109,617
MFA Financial, Inc.		318,693		2,670,647
Mid-America Apartment Communities, Inc.		65,768		4,844,471
Monmouth Real Estate Investment Corp.		39,754		445,642
National Health Investors, Inc.		27,083		1,795,061
New Residential Investment Corp.		130,465		1,690,826
New Senior Investment Group, Inc. *(a)		64,117		1,131,024
New York Mortgage Trust, Inc. (a)		83,186		668,815
New York REIT, Inc. (a)		138,883		1,492,992
Newcastle Investment Corp.		64,117		314,814
NorthStar Realty Finance Corp.		196,977		3,598,770
Omega Healthcare Investors, Inc.		111,945		4,278,538
One Liberty Properties, Inc.		11,362		260,531
Outfront Media, Inc.		105,270		2,848,606
Parkway Properties, Inc.		69,376		1,351,444
Pebblebrook Hotel Trust		59,219		2,556,484
Pennsylvania Real Estate Investment Trust		63,818		1,491,427
PennyMac Mortgage Investment Trust		68,730		1,489,379
Piedmont Office Realty Trust, Inc., Class A		133,791		2,515,271
Post Properties, Inc.		47,289		2,770,190
Potlatch Corp.		35,093		1,458,114
PS Business Parks, Inc.		17,035		1,386,479
QTS Realty Trust, Inc., Class A		11,060		359,671
RAIT Financial Trust		63,563		469,731
Ramco-Gershenson Properties Trust		70,174		1,256,115
Redwood Trust, Inc.		75,678		1,479,505
Resource Capital Corp.		120,276		633,855
Retail Opportunity Investments Corp.		78,814		1,297,278
Retail Properties of America, Inc., Class A		207,795		3,339,266
Rexford Industrial Realty, Inc.		25,881		393,132
RLJ Lodging Trust		118,366		3,897,792
Rouse Properties, Inc. (a)		32,479		594,041
Ryman Hospitality Properties, Inc. (a)		45,970		2,394,118

12 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Sabra Health Care REIT, Inc.		43,847		1,241,309
Saul Centers, Inc.		11,604		635,087
Select Income REIT		31,263		722,175
Silver Bay Realty Trust Corp.		35,896		596,950
Sovran Self Storage, Inc.		28,816		2,449,936
Spirit Realty Capital, Inc.		351,359		4,114,414
STAG Industrial, Inc.		52,251		1,245,664
Starwood Property Trust, Inc.		194,943		4,690,329
Starwood Waypoint Residential Trust		37,241		949,273
Strategic Hotels & Resorts, Inc. *		222,053		2,948,864
Summit Hotel Properties, Inc.		78,057		905,461
Sun Communities, Inc.		40,513		2,385,811
Sunstone Hotel Investors, Inc.		185,292		2,966,525
Tanger Factory Outlet Centers, Inc.		83,617		3,058,710
Tejon Ranch Co. *		13,279		376,592
The Geo Group, Inc.		63,437		2,555,877
The Howard Hughes Corp. *		31,587		4,612,965
The St. Joe Co. *		84,701		1,574,592
Two Harbors Investment Corp.		320,466		3,368,098
Universal Health Realty Income Trust		12,676		612,758
Urstadt Biddle Properties, Inc., Class A		25,861		573,597
Washington Prime Group, Inc.		135,517		2,334,958
Washington Real Estate Investment Trust		61,333		1,648,018
Western Asset Mortgage Capital Corp. (a)		36,102		564,996
Whitestone REIT		20,991		311,926
Winthrop Realty Trust		15,938		268,555
				237,589,866
Retailing 4.3%
1-800-Flowers.com, Inc., Class A *		17,726		151,557
Aaron’s, Inc.		56,819		1,612,523
Abercrombie & Fitch Co., Class A		61,056		1,761,466
America’s Car-Mart, Inc. *		6,236		320,219
American Eagle Outfitters, Inc.		153,731		2,167,607
ANN, Inc. *		40,371		1,482,827
Asbury Automotive Group, Inc. *		27,016		2,045,381
Ascena Retail Group, Inc. *		116,111		1,554,726
Barnes & Noble, Inc. *		39,294		917,908
Big Lots, Inc.		49,070		2,492,756
Blue Nile, Inc. *		12,313		426,522
Brown Shoe Co., Inc.		38,214		1,251,891
Burlington Stores, Inc. *		33,595		1,500,689
Cabela’s, Inc. *		41,751		2,264,574
Chico’s FAS, Inc.		133,571		2,119,772
Conn’s, Inc. *(a)		19,975		685,142
Core-Mark Holding Co., Inc.		20,490		1,231,654
Coupons.com, Inc. *(a)		9,010		137,583
CST Brands, Inc.		65,877		2,876,190
DSW, Inc., Class A		62,922		2,232,473
Express, Inc. *		73,496		1,098,765
Five Below, Inc. *		47,655		2,223,582
Francesca’s Holdings Corp. *		34,656		439,438
Fred’s, Inc., Class A		31,459		487,614
FTD Cos., Inc. *		17,403		603,188
Genesco, Inc. *		20,641		1,679,558
GNC Holdings, Inc., Class A		79,041		3,495,193
Group 1 Automotive, Inc.		18,860		1,688,159
Guess?, Inc.		57,222		1,297,223
Haverty Furniture Cos., Inc.		20,111		423,538
Hibbett Sports, Inc. *		21,171		1,062,149
HSN, Inc.		28,294		2,063,481
J.C. Penney Co., Inc. *(a)		267,782		2,144,934
Lands’ End, Inc. *(a)		12,323		586,328
Liberty TripAdvisor Holdings, Inc., Class A *		60,915		1,596,582
Liberty Ventures, Series A *		119,909		4,393,466
Lithia Motors, Inc., Class A		19,639		1,443,663
Lumber Liquidators Holdings, Inc. *		23,624		1,502,250
MarineMax, Inc. *		22,041		407,979
Mattress Firm Holding Corp. *		12,504		888,159
Monro Muffler Brake, Inc.		27,425		1,502,616
Murphy USA, Inc. *		37,846		2,411,547
Nutrisystem, Inc.		28,106		533,171
Office Depot, Inc. *		424,773		2,816,245
Orbitz Worldwide, Inc. *		73,902		564,611
Outerwall, Inc. *(a)		17,089		1,201,015
Overstock.com, Inc. *		14,132		351,322
Penske Automotive Group, Inc.		36,219		1,714,970
PetMed Express, Inc. (a)		17,820		240,570
Pier 1 Imports, Inc.		81,505		1,124,769
Pool Corp.		38,708		2,299,642
Rent-A-Center, Inc.		47,399		1,635,265
Restoration Hardware Holdings, Inc. *		31,069		2,624,398
RetailMeNot, Inc. *		35,980		529,805
Sears Holdings Corp. *(a)		43,239		1,560,928
Sears Hometown & Outlet Stores, Inc. *		11,353		149,065
Select Comfort Corp. *		47,340		1,246,936
Shoe Carnival, Inc.		14,289		289,495
Shutterfly, Inc. *		33,713		1,441,568
Sonic Automotive, Inc., Class A		32,512		838,484
Stage Stores, Inc.		30,469		624,310
Stein Mart, Inc.		25,506		362,185
Systemax, Inc. *		8,373		108,179
The Buckle, Inc. (a)		25,316		1,295,926
The Cato Corp., Class A		23,373		937,725
The Children’s Place, Inc.		19,197		1,076,184
The Container Store Group, Inc. *(a)		10,593		230,716
The Finish Line, Inc., Class A		44,255		1,263,038
The Men’s Wearhouse, Inc.		39,684		1,854,036
The Michaels Cos., Inc. *		22,856		549,915
The Pep Boys-Manny, Moe & Jack *		50,147		488,432
Tile Shop Holdings, Inc. *(a)		17,906		178,702
Tuesday Morning Corp. *		40,282		858,007
Vitamin Shoppe, Inc. *		27,011		1,292,746
Weyco Group, Inc.		4,608		126,766
Winmark Corp.		1,830		147,809
zulily, Inc., Class A *(a)		16,134		463,530
Zumiez, Inc. *		17,623		630,375
				96,323,712
Semiconductors & Semiconductor Equipment 3.2%
Advanced Energy Industries, Inc. *		30,317		619,376

13

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Advanced Micro Devices, Inc. *(a)		543,935		1,517,579
Amkor Technology, Inc. *		99,170		663,447
Applied Micro Circuits Corp. *		70,372		415,899
Atmel Corp. *		365,928		2,894,490
Brooks Automation, Inc.		63,243		740,576
Cabot Microelectronics Corp. *		19,889		940,750
Cavium, Inc. *		48,089		2,721,837
CEVA, Inc. *		20,916		359,964
Cirrus Logic, Inc. *		56,761		1,038,159
Cohu, Inc.		20,341		232,904
Cypress Semiconductor Corp. *		134,501		1,425,711
Diodes, Inc. *		31,372		834,181
Entegris, Inc. *		118,389		1,594,700
Exar Corp. *		46,831		427,567
Fairchild Semiconductor International, Inc. *		105,086		1,695,037
FormFactor, Inc. *		52,314		420,605
Inphi Corp. *		19,131		281,034
Integrated Device Technology, Inc. *		132,267		2,468,102
Integrated Silicon Solution, Inc.		27,968		404,697
International Rectifier Corp. *		62,424		2,489,469
Intersil Corp., Class A		118,010		1,547,111
IXYS Corp.		22,883		261,553
Kulicke & Soffa Industries, Inc. *		65,394		914,208
Lattice Semiconductor Corp. *		109,989		720,428
M/A-COM Technology Solutions Holdings, Inc. *		13,386		332,374
Micrel, Inc.		43,752		570,964
Microsemi Corp. *		81,817		2,225,422
MKS Instruments, Inc.		44,593		1,624,969
Monolithic Power Systems, Inc.		30,850		1,484,811
Nanometrics, Inc. *		21,069		312,664
OmniVision Technologies, Inc. *		47,486		1,372,820
ON Semiconductor Corp. *		385,892		3,484,605
PDF Solutions, Inc. *		24,597		325,910
Photronics, Inc. *		59,868		540,009
PMC-Sierra, Inc. *		178,900		1,458,035
Power Integrations, Inc.		26,233		1,315,847
Rambus, Inc. *		97,357		1,153,680
RF Micro Devices, Inc. *		249,623		3,646,992
Rudolph Technologies, Inc. *		28,221		259,069
Semtech Corp. *		61,393		1,563,066
Silicon Image, Inc. *		69,826		386,138
Silicon Laboratories, Inc. *		36,165		1,640,083
Spansion, Inc., Class A *		51,496		1,203,462
SunEdison, Inc. *		218,795		4,736,912
SunPower Corp. *(a)		43,989		1,238,730
Synaptics, Inc. *		32,245		2,031,113
Teradyne, Inc.		177,423		3,521,847
Tessera Technologies, Inc.		40,660		1,389,759
TriQuint Semiconductor, Inc. *		157,571		3,840,005
Ultratech, Inc. *		23,252		452,716
Veeco Instruments, Inc. *		36,345		1,359,666
				71,101,052
Software & Services 8.9%
A10 Networks, Inc. *		11,597		47,316
ACI Worldwide, Inc. *		102,722		1,997,943
Actua Corp. *		33,867		570,998
Acxiom Corp. *		70,264		1,337,124
Advent Software, Inc.		40,096		1,264,227
Aerohive Networks, Inc. *		7,108		34,616
Angie’s List, Inc. *		39,262		233,216
AOL, Inc. *		68,981		3,184,163
Aspen Technology, Inc. *		80,461		3,036,598
Bankrate, Inc. *		51,978		607,623
Barracuda Networks, Inc. *(a)		8,339		299,620
Bazaarvoice, Inc. *(a)		39,225		288,696
Benefitfocus, Inc. *		3,624		98,174
Blackbaud, Inc.		42,134		1,788,167
Blackhawk Network Holdings, Inc. *(a)		9,796		355,791
Blackhawk Network Holdings, Inc., Class B *		34,803		1,242,119
Blucora, Inc. *		39,699		564,123
Booz Allen Hamilton Holding Corp.		73,871		2,010,030
Borderfree, Inc. *(a)		4,591		45,956
Bottomline Technologies (de), Inc. *		36,244		888,703
Broadridge Financial Solutions, Inc.		104,046		4,712,243
BroadSoft, Inc. *		27,159		732,478
CACI International, Inc., Class A *		21,295		1,899,301
Carbonite, Inc. *		10,735		125,492
Cardtronics, Inc. *		40,235		1,575,603
Cass Information Systems, Inc.		8,650		393,835
ChannelAdvisor Corp. *		17,535		308,616
Ciber, Inc. *		57,189		173,283
CommVault Systems, Inc. *		37,258		1,762,303
Compuware Corp.		189,929		1,960,067
comScore, Inc. *		29,542		1,298,962
Comverse, Inc. *		21,852		438,133
Constant Contact, Inc. *		27,106		885,824
Convergys Corp.		88,315		1,841,368
Conversant, Inc. *		52,941		1,853,994
CoreLogic, Inc. *		79,589		2,643,947
Cornerstone OnDemand, Inc. *		41,463		1,317,280
CoStar Group, Inc. *		28,351		4,827,041
CSG Systems International, Inc.		32,099		806,327
Cvent, Inc. *(a)		16,145		434,623
Dealertrack Technologies, Inc. *		38,322		1,807,266
Demandware, Inc. *		28,263		1,582,728
Dice Holdings, Inc. *		30,745		334,198
Digital River, Inc. *		27,952		709,701
DST Systems, Inc.		26,609		2,640,943
E2open, Inc. *		13,876		93,385
EarthLink Holdings Corp.		95,107		417,520
Ebix, Inc. (a)		31,148		504,909
Ellie Mae, Inc. *		23,020		931,389
Endurance International Group Holdings, Inc. *(a)		25,370		421,649
EnerNOC, Inc. *		23,437		341,946
Envestnet, Inc. *		30,922		1,581,660
EPAM Systems, Inc. *		20,128		1,027,132
Epiq Systems, Inc.		31,007		475,647
ePlus, Inc. *		3,660		251,954
Euronet Worldwide, Inc. *		43,466		2,524,071
EVERTEC, Inc.		60,599		1,335,602
Everyday Health, Inc. *		6,620		85,663
ExlService Holdings, Inc. *		29,587		829,324
Fair Isaac Corp.		27,996		2,009,553

14 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Five9, Inc. *		9,729		42,905
Forrester Research, Inc.		10,149		403,017
Fortinet, Inc. *		120,338		3,316,515
Genpact Ltd. *		136,769		2,464,577
Gigamon, Inc. *(a)		21,744		311,809
Global Cash Access Holdings, Inc. *		50,131		355,930
Global Eagle Entertainment, Inc. *(a)		33,877		449,209
Gogo, Inc. *(a)		46,376		733,668
GrubHub, Inc. *		15,220		560,096
Guidewire Software, Inc. *		59,899		3,023,103
Heartland Payment Systems, Inc.		31,513		1,718,089
HomeAway, Inc. *		75,539		2,368,903
iGATE Corp. *		31,139		1,150,586
Imperva, Inc. *		19,430		826,552
Infoblox, Inc. *		43,362		780,516
Informatica Corp. *		96,617		3,514,926
Interactive Intelligence Group, Inc. *		13,835		625,757
Internap Network Services Corp. *		46,881		371,766
Intralinks Holdings, Inc. *		34,787		378,483
j2 Global, Inc.		39,979		2,260,413
Jive Software, Inc. *		22,152		130,697
Leidos Holdings, Inc.		55,040		2,224,166
Liquidity Services, Inc. *		25,512		268,131
LivePerson, Inc. *		46,116		596,741
LogMeIn, Inc. *		20,301		1,026,622
Manhattan Associates, Inc. *		65,577		2,594,226
ManTech International Corp., Class A		19,837		597,490
Marketo, Inc. *		24,090		769,916
MAXIMUS, Inc.		58,577		3,068,849
Mentor Graphics Corp.		87,311		1,939,177
MicroStrategy, Inc., Class A *		8,033		1,379,587
MoneyGram International, Inc. *		27,888		240,395
Monotype Imaging Holdings, Inc.		33,388		922,844
Monster Worldwide, Inc. *		67,049		291,663
NetScout Systems, Inc. *		33,912		1,293,743
NeuStar, Inc., Class A *(a)		49,225		1,341,381
NIC, Inc.		51,775		932,985
OPOWER, Inc. *(a)		5,835		90,851
Pandora Media, Inc. *		158,658		3,119,216
Paycom Software, Inc. *		6,071		174,541
Pegasystems, Inc.		31,253		653,813
Perficient, Inc. *		33,120		573,307
Progress Software Corp. *		46,317		1,194,515
Proofpoint, Inc. *		28,582		1,241,030
PROS Holdings, Inc. *		23,682		677,305
PTC, Inc. *		102,007		3,985,413
Q2 Holdings, Inc. *		7,493		139,295
Qlik Technologies, Inc. *		78,747		2,427,770
Qualys, Inc. *		18,781		666,538
RealNetworks, Inc. *		20,669		144,890
RealPage, Inc. *		48,004		986,962
Rocket Fuel, Inc. *(a)		16,315		266,750
Rovi Corp. *		82,072		1,828,564
Sapient Corp. *		98,761		2,439,397
Science Applications International Corp.		34,889		1,766,430
SciQuest, Inc. *		20,920		311,917
ServiceSource International, Inc. *		58,878		239,633
Shutterstock, Inc. *		13,295		999,518
Silver Spring Networks, Inc. *(a)		25,327		181,595
SolarWinds, Inc. *		57,234		2,971,589
Splunk, Inc. *		104,895		7,038,454
SPS Commerce, Inc. *		14,067		819,825
SS&C Technologies Holdings, Inc.		59,326		2,998,929
Stamps.com, Inc. *		11,594		547,817
Sykes Enterprises, Inc. *		37,204		862,017
Synchronoss Technologies, Inc. *		30,752		1,317,108
Syntel, Inc. *		26,528		1,180,496
Tableau Software, Inc., Class A *		34,551		2,898,138
Take-Two Interactive Software, Inc. *		72,945		2,017,659
Tangoe, Inc. *		31,914		415,042
TeleTech Holdings, Inc. *		15,117		353,284
Textura Corp. *(a)		17,031		408,063
The Rubicon Project, Inc. *		6,531		91,826
The Ultimate Software Group, Inc. *		24,750		3,644,190
TIBCO Software, Inc. *		133,408		3,205,794
TiVo, Inc. *		105,703		1,287,463
TrueCar, Inc. *(a)		13,853		265,423
Trulia, Inc. *(a)		30,235		1,536,845
Tyler Technologies, Inc. *		29,196		3,170,102
Unisys Corp. *		43,654		1,166,435
Varonis Systems, Inc. *(a)		4,735		112,693
VASCO Data Security International, Inc. *		27,905		831,569
VeriFone Systems, Inc. *		99,110		3,534,263
Verint Systems, Inc. *		52,077		3,134,515
VirnetX Holding Corp. *(a)		40,244		213,696
Virtusa Corp. *		24,268		972,419
Web.com Group, Inc. *		48,621		825,098
WebMD Health Corp. *		33,745		1,233,042
WEX, Inc. *		33,892		3,832,507
XO Group, Inc. *		24,159		350,306
Xoom Corp. *		26,280		368,183
Yelp, Inc. *		53,718		3,066,761
Zendesk, Inc. *(a)		10,331		245,465
Zillow, Inc., Class A *(a)		22,646		2,680,381
Zynga, Inc., Class A *		573,067		1,489,974
				200,264,217
Technology Hardware & Equipment 5.2%
ADTRAN, Inc.		50,911		1,063,531
Anixter International, Inc.		24,422		2,122,272
Arista Networks, Inc. *(a)		4,339		329,200
ARRIS Group, Inc. *		117,301		3,492,051
Aruba Networks, Inc. *		93,510		1,749,572
AVX Corp.		44,821		640,492
Badger Meter, Inc.		12,591		693,638
Belden, Inc.		37,676		2,751,478
Benchmark Electronics, Inc. *		48,163		1,145,316
Black Box Corp.		16,060		372,271
Brocade Communications Systems, Inc.		374,582		4,236,522
CalAmp Corp. *		32,342		604,472
Calix, Inc. *		30,929		327,847
CDW Corp.		91,610		3,213,679
Checkpoint Systems, Inc. *		38,477		490,967
Ciena Corp. *		93,372		1,543,439

15

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Cognex Corp. *		75,670		3,080,526
Coherent, Inc. *		21,494		1,189,908
CommScope Holding Co., Inc. *		74,102		1,645,064
Comtech Telecommunications Corp.		13,653		541,888
Control4 Corp. *(a)		13,487		203,384
Cray, Inc. *		37,299		1,252,500
CTS Corp.		27,006		463,963
Daktronics, Inc.		26,959		321,621
Diebold, Inc.		58,389		2,112,514
Dolby Laboratories, Inc., Class A		37,755		1,675,567
DTS, Inc. *		13,623		439,342
EchoStar Corp., Class A *		38,979		2,100,189
Electro Rent Corp.		16,962		236,620
Electronics For Imaging, Inc. *		40,158		1,785,023
Emulex Corp. *		55,875		302,284
Extreme Networks, Inc. *		90,544		327,769
Fabrinet *		23,818		399,428
FARO Technologies, Inc. *		14,891		817,963
FEI Co.		36,651		3,138,792
Finisar Corp. *		90,476		1,542,616
GSI Group, Inc. *		23,864		302,596
Harmonic, Inc. *		80,707		564,949
II-VI, Inc. *		43,960		583,349
Infinera Corp. *		111,932		1,525,633
Ingram Micro, Inc., Class A *		135,715		3,722,662
Insight Enterprises, Inc. *		34,248		802,431
InterDigital, Inc.		36,236		1,807,452
InvenSense, Inc. *(a)		63,289		917,058
IPG Photonics Corp. *		30,926		2,229,455
Itron, Inc. *		34,231		1,382,932
Ixia *		52,548		544,923
JDS Uniphase Corp. *		201,487		2,687,837
Kimball Electronics, Inc. *		21,819		240,009
Knowles Corp. *		74,400		1,554,216
Lexmark International, Inc., Class A		54,247		2,325,026
Littelfuse, Inc.		19,978		1,920,485
Maxwell Technologies, Inc. *		28,141		289,571
Methode Electronics, Inc.		32,530		1,260,538
MTS Systems Corp.		13,785		914,359
NETGEAR, Inc. *		30,675		1,065,036
Newport Corp. *		36,218		637,799
Nimble Storage, Inc. *(a)		20,962		552,768
Oplink Communications, Inc.		16,559		400,231
OSI Systems, Inc. *		16,148		1,139,564
Palo Alto Networks, Inc. *		56,545		6,955,035
Park Electrochemical Corp.		19,362		476,305
PC Connection, Inc.		17,568		392,996
Plantronics, Inc.		39,038		2,036,612
Plexus Corp. *		28,810		1,123,878
Polycom, Inc. *		124,963		1,645,763
QLogic Corp. *		77,058		889,249
Quantum Corp. *		134,228		212,080
RealD, Inc. *		41,651		476,904
Riverbed Technology, Inc. *		139,501		2,884,183
Rofin-Sinar Technologies, Inc. *		23,676		637,358
Rogers Corp. *		16,984		1,202,807
Ruckus Wireless, Inc. *		49,981		572,782
Sanmina Corp. *		70,876		1,743,550
ScanSource, Inc. *		23,828		925,956
ShoreTel, Inc. *		53,732		401,915
Silicon Graphics International Corp. *		32,772		314,939
Sonus Networks, Inc. *		223,698		827,683
Super Micro Computer, Inc. *		28,911		962,158
SYNNEX Corp.		24,419		1,744,493
Tech Data Corp. *		33,277		2,074,155
TTM Technologies, Inc. *		51,751		349,837
Ubiquiti Networks, Inc. (a)		22,701		656,059
Universal Display Corp. *(a)		35,834		994,035
ViaSat, Inc. *		37,278		2,471,531
Vishay Intertechnology, Inc.		117,339		1,627,492
Zebra Technologies Corp., Class A *		44,353		3,244,422
				115,568,764
Telecommunication Services 0.5%
8x8, Inc. *		81,725		635,821
Atlantic Tele-Network, Inc.		9,532		647,985
Cincinnati Bell, Inc. *		194,284		691,651
Cogent Communications Holdings, Inc.		36,819		1,304,129
Consolidated Communications Holdings, Inc.		39,352		1,078,638
FairPoint Communications, Inc. *		19,669		296,018
General Communication, Inc., Class A *		26,759		325,122
Globalstar, Inc. *(a)		225,571		636,110
IDT Corp., Class B		17,424		295,163
inContact, Inc. *		52,548		434,047
Intelsat S.A. *		12,675		223,207
Iridium Communications, Inc. *		71,906		686,702
NTELOS Holdings Corp. (a)		12,701		106,688
Premiere Global Services, Inc. *		40,609		428,425
RingCentral, Inc., Class A *		21,886		275,326
Shenandoah Telecommunications Co.		22,423		664,394
Spok Holdings, Inc.		17,815		282,546
Telephone & Data Systems, Inc.		83,166		2,125,723
United States Cellular Corp. *		13,308		512,225
Vonage Holdings Corp. *		173,569		591,870
				12,241,790
Transportation 2.5%
Air Transport Services Group, Inc. *		46,533		369,937
Alaska Air Group, Inc.		119,272		7,040,626
Allegiant Travel Co.		12,690		1,779,899
AMERCO		5,539		1,540,950
ArcBest Corp.		20,756		901,226
Atlas Air Worldwide Holdings, Inc. *		21,736		992,248
Celadon Group, Inc.		20,126		443,577
Con-way, Inc.		49,924		2,473,235
Echo Global Logistics, Inc. *		14,204		398,422
Forward Air Corp.		28,639		1,402,165
Hawaiian Holdings, Inc. *		49,676		1,007,926
Heartland Express, Inc.		45,242		1,200,270
Hub Group, Inc., Class A *		31,912		1,200,529
JetBlue Airways Corp. *		217,366		3,180,065
Knight Transportation, Inc.		54,547		1,814,779
Landstar System, Inc.		38,903		3,127,023

16 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
Marten Transport Ltd.		21,582		464,013
Matson, Inc.		37,850		1,332,699
Old Dominion Freight Line, Inc. *		59,434		4,816,531
Park-Ohio Holdings Corp.		8,283		465,256
Patriot Transportation Holding, Inc. *		5,347		201,475
Republic Airways Holdings, Inc. *		47,528		631,172
Roadrunner Transportation Systems, Inc. *		23,933		538,732
Ryder System, Inc.		46,203		4,413,311
Saia, Inc. *		21,529		1,194,214
SkyWest, Inc.		44,997		562,463
Spirit Airlines, Inc. *		63,274		5,232,127
Swift Transportation Co. *		74,190		2,156,703
Universal Truckload Services, Inc.		2,906		79,799
UTi Worldwide, Inc. *		81,319		959,564
Werner Enterprises, Inc.		38,113		1,182,265
Wesco Aircraft Holdings, Inc. *		46,448		649,808
XPO Logistics, Inc. *		47,133		1,823,104
				55,576,113
Utilities 3.1%
ALLETE, Inc.		34,987		1,783,287
American States Water Co.		34,240		1,194,634
Atmos Energy Corp.		87,886		4,719,478
Avista Corp.		53,995		1,860,128
Black Hills Corp.		38,822		2,096,776
California Water Service Group		40,880		1,024,862
Chesapeake Utilities Corp.		12,991		583,686
Cleco Corp.		52,588		2,825,553
Connecticut Water Service, Inc.		9,779		340,798
Dynegy, Inc. *		89,839		2,978,163
El Paso Electric Co.		36,718		1,389,042
Great Plains Energy, Inc.		134,415		3,517,641
Hawaiian Electric Industries, Inc. (a)		90,890		2,562,189
IDACORP, Inc.		42,901		2,664,581
MGE Energy, Inc.		31,867		1,402,467
Middlesex Water Co.		14,415		317,707
New Jersey Resources Corp.		36,904		2,136,742
Northwest Natural Gas Co.		23,215		1,079,730
NorthWestern Corp.		40,211		2,140,431
NRG Yield, Inc., Class A (a)		29,783		1,411,416
ONE Gas, Inc.		45,273		1,757,498
Ormat Technologies, Inc.		15,835		433,562
Otter Tail Corp.		31,593		909,246
Pattern Energy Group, Inc.		34,491		915,046
Piedmont Natural Gas Co., Inc.		70,150		2,629,222
PNM Resources, Inc.		71,394		2,067,570
Portland General Electric Co.		66,826		2,463,875
Questar Corp.		152,134		3,649,695
SJW Corp.		13,003		389,310
South Jersey Industries, Inc.		31,477		1,796,707
Southwest Gas Corp.		40,202		2,327,294
TerraForm Power, Inc., Class A *(a)		19,586		649,276
The Empire District Electric Co.		36,757		1,018,536
The Laclede Group, Inc.		37,765		1,915,818
UIL Holdings Corp.		48,997		1,950,081
Unitil Corp.		11,199		394,541
Vectren Corp.		72,102		3,187,629
WGL Holdings, Inc.		45,516		2,224,367
				68,708,584
Total Common Stock
(Cost $1,878,648,617)				2,238,457,158
Rights 0.0% of net assets
Pharmaceuticals, Biotechnology & Life Sciences 0.0%
Forest Laboratories, Inc., CVR *(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
Warrants 0.0% of net assets
Energy 0.0%
Magnum Hunter Resources Corp. *(a)(b)(c)		11,911		—
Total Warrants
(Cost $—)				—
Other Investment Companies 3.5% of net assets
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d)		709,321		709,321
Securities Lending Collateral 3.5%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (d)		77,820,558		77,820,558
Total Other Investment Companies
(Cost $78,529,879)				78,529,879
	Face
Security	Amount		Value
Rate, Maturity Date	($)		($)
Short-Term Investment 0.0% of net assets
U.S. Treasury Obligation 0.0%
U.S. Treasury Bill
0.02%, 12/18/14 (e)		224,000		223,998
Total Short-Term Investment
(Cost $223,998)				223,998
End of Investments

17

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

At 11/30/14, the tax basis cost of the fund’s investments was $1,959,493,544 and the unrealized appreciation and depreciation were $456,741,858 and ($98,908,948), respectively, with a net unrealized appreciation of $357,832,910.

*	Non-income producing security.
(a)	All or a portion of this security is on loan. Securities on loan were valued at $72,845,920. Non-Cash Collateral pledged to the fund for securities on loan amounted to $790,305.
(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.
(e)	The rate shown is the purchase yield.

CVR —	Contingent Value Rights
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 may be valued at amortized cost, which approximates market value.

•  Underlying funds: Mutual funds are valued at their respective net asset values (“NAVs”).

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

18 

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

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. Investments in mutual funds are valued daily at their NAVs, which are classified as Level 1 prices, without consideration to the classification level of the specific investments held by the underlying fund.

•  Level 2 — other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) — Investments that trade in markets that are not considered to be active, but whose values are based on quoted market prices, dealer quotations or valuations provided by alternative pricing sources supported by observable inputs are classified as Level 2 prices. These generally include U.S. government and sovereign obligations, most government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

•  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$2,238,457,158		$—		$—		$2,238,457,158
Rights1		—		—		115,419		115,419
Warrants1		—		—		—		—
Other Investment Companies1		78,529,879		—		—		78,529,879
Short-Term Investment1		—		223,998		—		223,998
Total		$2,316,987,037		$223,998		$115,419		$2,317,326,454

¹ As categorized in Portfolio Holdings.

The following is a reconciliation of Level 3 investments for which significant unobservable inputs were used to determine fair value:

	Balance				Change in										Balance
	as of		Realized		Unrealized						Gross		Gross		as of
	August 31,		Gains		Gains		Gross		Gross		Transfers		Transfers		November 30,
Investments in Securities	2014		(Losses)		(Losses)		Purchases		Sales		in		out		2014
Rights		$115,419		$—		$—		$—		$—		$—		$—		$115,419
Total		$115,419		$—		$—		$—		$—		$—		$—		$115,419

19

 Schwab U.S. Small-Cap ETF

Portfolio Holdings (Unaudited) continued

The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2014.

REG54091NOV14

20 

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

Portfolio Holdings as of November 30, 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	.6%	Common Stock		2,155,804,527		2,532,650,028
	0	.1%	Other Investment Companies		2,715,170		2,756,207
	99	.7%	Total Investments		2,158,519,697		2,535,406,235
	0	.3%	Other Assets and Liabilities, Net				7,741,468
	100	.0%	Net Assets				2,543,147,703

	Number		Value
Security	of Shares		($)
Common Stock 99.6% of net assets
Banks 0.1%
First Financial Bancorp		30,987		548,780
Umpqua Holdings Corp.		118,674		2,016,271
				2,565,051
Capital Goods 13.1%
3M Co.		378,386		60,575,815
Eaton Corp. plc		277,526		18,824,588
Emerson Electric Co.		405,426		25,845,907
Fastenal Co.		159,868		7,226,034
General Dynamics Corp.		185,508		26,965,443
Illinois Tool Works, Inc.		211,843		20,110,256
Lockheed Martin Corp.		157,769		30,222,230
Northrop Grumman Corp.		120,774		17,020,680
Raytheon Co.		180,398		19,248,467
The Boeing Co.		391,512		52,603,552
United Technologies Corp.		497,062		54,716,585
				333,359,557
Commercial & Professional Services 0.1%
R.R. Donnelley & Sons Co.		121,268		2,042,153
Consumer Durables & Apparel 0.8%
Garmin Ltd.		69,320		3,972,036
Hasbro, Inc.		65,023		3,849,362
Leggett & Platt, Inc.		83,686		3,522,344
Mattel, Inc.		201,821		6,367,452
Tupperware Brands Corp.		30,406		2,044,803
				19,755,997
Consumer Services 2.7%
Cracker Barrel Old Country Store, Inc.		14,426		1,846,672
Darden Restaurants, Inc.		79,933		4,555,382
H&R Block, Inc.		165,959		5,582,861
International Game Technology		139,236		2,371,189
McDonald’s Corp.		572,200		55,394,682
				69,750,786
Diversified Financials 0.7%
Federated Investors, Inc., Class B		54,209		1,704,331
T. Rowe Price Group, Inc.		155,009		12,938,601
Waddell & Reed Financial, Inc., Class A		52,358		2,517,373
				17,160,305
Energy 10.8%
Chevron Corp.		880,742		95,886,382
ConocoPhillips		718,216		47,452,531
Exxon Mobil Corp.		1,131,476		102,443,837
Helmerich & Payne, Inc.		63,806		4,437,707
HollyFrontier Corp.		117,073		4,778,920
RPC, Inc.		32,777		435,606
The Williams Cos., Inc.		393,016		20,338,578
				275,773,561
Food & Staples Retailing 3.7%
Sysco Corp.		346,546		13,951,942
Wal-Mart Stores, Inc.		921,439		80,662,770
				94,614,712
Food, Beverage & Tobacco 12.1%
Altria Group, Inc.		1,157,376		58,169,718
B&G Foods, Inc.		34,230		979,663
Campbell Soup Co.		105,642		4,783,470
ConAgra Foods, Inc.		251,142		9,171,706
Flowers Foods, Inc.		114,821		2,239,009
General Mills, Inc.		355,352		18,744,818
Kellogg Co.		147,206		9,752,397
PepsiCo, Inc.		880,848		88,172,885
Reynolds American, Inc.		178,573		11,769,746
The Coca-Cola Co.		2,306,449		103,398,109
Universal Corp.		17,410		696,226
				307,877,747
Health Care Equipment & Services 1.2%
Baxter International, Inc.		313,761		22,904,553
Computer Programs & Systems, Inc.		4,628		271,849
Meridian Bioscience, Inc.		22,763		374,451
Owens & Minor, Inc.		39,214		1,341,511
Quest Diagnostics, Inc.		86,980		5,680,664
				30,573,028
Household & Personal Products 7.3%
Colgate-Palmolive Co.		498,769		34,709,335
Kimberly-Clark Corp.		217,145		25,316,935

1

 Schwab U.S. Dividend Equity ETF

Portfolio Holdings (Unaudited) continued

	Number		Value
Security	of Shares		($)
The Clorox Co.		73,838		7,503,418
The Procter & Gamble Co.		1,310,640		118,521,175
				186,050,863
Insurance 1.0%
Aflac, Inc.		262,079		15,653,979
Arthur J. Gallagher & Co.		95,309		4,570,066
Mercury General Corp.		22,452		1,238,452
PartnerRe Ltd.		30,317		3,532,234
Safety Insurance Group, Inc.		9,760		580,915
				25,575,646
Materials 4.1%
Air Products & Chemicals, Inc.		111,304		16,008,854
Compass Minerals International, Inc.		21,158		1,841,804
E.I. du Pont de Nemours & Co.		534,347		38,152,376
International Paper Co.		248,045		13,349,782
Schweitzer-Mauduit International, Inc.		19,372		828,540
Sonoco Products Co.		61,031		2,564,523
The Dow Chemical Co.		655,032		31,880,407
				104,626,286
Media 0.7%
Gannett Co., Inc.		128,495		4,182,512
Meredith Corp.		19,267		1,016,912
Omnicom Group, Inc.		145,906		11,274,157
				16,473,581
Pharmaceuticals, Biotechnology & Life Sciences 10.5%
Eli Lilly & Co.		575,115		39,176,834
Johnson & Johnson		1,043,464		112,954,978
Pfizer, Inc.		3,703,182		115,354,119
				267,485,931
Retailing 4.8%
American Eagle Outfitters, Inc.		116,354		1,640,591
Genuine Parts Co.		89,968		9,246,911
Staples, Inc.		368,692		5,183,810
Target Corp.		369,607		27,350,918
The Home Depot, Inc.		785,308		78,059,615
				121,481,845
Semiconductors & Semiconductor Equipment 6.9%
Analog Devices, Inc.		181,115		9,896,124
Intel Corp.		2,893,225		107,772,631
Linear Technology Corp.		142,395		6,554,442
Maxim Integrated Products, Inc.		171,095		5,059,279
Microchip Technology, Inc.		114,912		5,188,277
Texas Instruments, Inc.		623,005		33,903,932
Xilinx, Inc.		155,924		7,085,186
				175,459,871
Software & Services 5.9%
Automatic Data Processing, Inc.		283,119		24,246,311
CA, Inc.		183,066		5,702,506
Microsoft Corp.		2,338,738		111,815,064
Paychex, Inc.		193,760		9,186,161
				150,950,042
Technology Hardware & Equipment 0.2%
Harris Corp.		60,374		4,327,005
Telecommunication Services 8.7%
AT&T, Inc.		3,025,994		107,059,668
Verizon Communications, Inc.		2,246,927		113,672,037
				220,731,705
Transportation 3.7%
C.H. Robinson Worldwide, Inc.		84,413		6,224,615
CSX Corp.		583,700		21,299,213
Norfolk Southern Corp.		180,378		20,137,400
United Parcel Service, Inc., Class B		410,638		45,137,329
				92,798,557
Utilities 0.5%
Alliant Energy Corp.		65,606		4,124,649
Questar Corp.		105,314		2,526,483
Wisconsin Energy Corp.		132,888		6,564,667
				13,215,799
Total Common Stock
(Cost $2,155,804,527)				2,532,650,028
Other Investment Companies 0.1% of net assets
Equity Fund 0.1%
Vanguard Dividend Appreciation ETF		30,000		2,445,900
Money Market Fund 0.0%
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.00% (a)		310,307		310,307
Total Other Investment Companies
(Cost $2,715,170)				2,756,207
End of Investments

At 11/30/14, the tax basis cost of the fund’s investments was $2,158,791,880 and the unrealized appreciation and depreciation were $393,899,125 and ($17,284,770), respectively, with a net unrealized appreciation of $376,614,355.

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

ETF — Exchange Traded Fund

2 

 Schwab U.S. Dividend Equity ETF

Portfolio Holdings (Unaudited) continued

Under procedures approved by the fund’s Board of Trustees (the “Board”), the investment adviser has formed a Pricing Committee to administer the pricing and valuation of portfolio securities and other assets and to ensure that prices used for internal purposes or provided by third parties reasonably reflect fair market value. Among other things, these procedures allow the fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

The fund values the securities in its portfolio every business day. The fund uses the following policies to value various types of securities:

•  Securities traded on an exchange or over-the-counter: 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.

•  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, without consideration to the classification level of the specific investments held by the underlying fund.

•  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

3

 Schwab U.S. Dividend Equity ETF

Portfolio Holdings (Unaudited) continued

government agency securities, investment-grade corporate bonds, certain mortgage products, less liquid listed equities, and state, municipal and provincial obligations. As investments whose values are classified as Level 2 prices include positions that are not traded in active markets and/or are subject to transfer restrictions, valuations may be adjusted to reflect illiquidity and/or non-transferability, which are generally based on available market information.

•  Level 3 — significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments) — Investments whose values are classified as Level 3 prices have significant unobservable inputs, as they may trade infrequently or not at all. When observable prices are not available for these securities, the fund uses one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the fund in estimating the value of Level 3 prices may include the original transaction price, quoted prices for similar securities or assets in active markets, completed or pending third-party transactions in the underlying investment or comparable issuers, and changes in financial ratios or cash flows. Level 3 prices may also be adjusted to reflect illiquidity and/or non-transferability, with the amount of such discount estimated by the fund in the absence of market information. Assumptions used by the fund due to the lack of observable inputs may significantly impact the resulting fair value and therefore the fund’s results of operations.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the fund’s investments as of November 30, 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		$2,532,650,028		$—		$—		$2,532,650,028
Other Investment Companies1		2,756,207		—		—		2,756,207
Total		$2,535,406,235		$—		$—		$2,535,406,235

¹ As categorized in Portfolio Holdings.

The fund’s policy is to recognize transfers between Level 1, Level 2 and Level 3 as of the beginning of the fiscal year. There were no transfers between Level 1, Level 2 and Level 3 for the period ended November 30, 2014.

REG65852NOV14

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: 1/21/2015

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Marie Chandoha   Marie Chandoha
Chief Executive Officer

Date: 1/21/2015

By:	/s/ George Pereira George Pereira
	Principal Financial Officer

Date: 1/21/2015