0001752724-19-082979.txt : 20190726 0001752724-19-082979.hdr.sgml : 20190726 20190726122120 ACCESSION NUMBER: 0001752724-19-082979 CONFORMED SUBMISSION TYPE: NPORT-EX PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190531 FILED AS OF DATE: 20190726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SCHWAB STRATEGIC TRUST CENTRAL INDEX KEY: 0001454889 IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-EX SEC ACT: 1940 Act SEC FILE NUMBER: 811-22311 FILM NUMBER: 19976947 BUSINESS ADDRESS: STREET 1: 211 MAIN STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 BUSINESS PHONE: 1-415-667-7000 MAIL ADDRESS: STREET 1: 211 MAIN STREET CITY: SAN FRANCISCO STATE: CA ZIP: 94105 FORMER COMPANY: FORMER CONFORMED NAME: Schwab Strategic Trust DATE OF NAME CHANGE: 20090127 0001454889 S000026639 Schwab Emerging Markets Equity ETF C000079986 Schwab Emerging Markets Equity ETF SCHE ACCESSION NUMBER: 0001752724-19-076613 NPORT-EX 1 NPORT_5757812383974781.htm
Schwab Strategic Trust
Schwab International Equity ETF™
Portfolio Holdings as of May 31, 2019 (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.    
 
Security Number
of Shares 		Value ($)
Common Stock 98.7% of net assets
 
Australia 6.4%
Adelaide Brighton Ltd. 505,205 1,438,628
AGL Energy Ltd. 701,991 9,994,994
ALS Ltd. 492,191 2,421,203
Alumina Ltd. 2,698,814 4,468,997
Amcor Ltd. 1,236,125 14,114,281
AMP Ltd. 3,214,275 4,832,612
Ansell Ltd. 141,888 2,480,288
APA Group 1,288,766 9,054,223
Aristocrat Leisure Ltd. 680,472 13,729,060
ASX Ltd. 202,327 10,618,805
Atlas Arteria Ltd. 766,475 3,759,849
Aurizon Holdings Ltd. 2,030,424 7,287,116
AusNet Services 2,163,363 2,668,017
Australia & New Zealand Banking Group Ltd. 3,106,627 60,009,645
Bank of Queensland Ltd. (a) 436,715 2,801,872
Bendigo & Adelaide Bank Ltd. 549,276 4,273,754
BHP Group Ltd. 3,183,317 83,281,982
BlueScope Steel Ltd. 575,403 4,201,960
Boral Ltd. 1,218,413 4,583,883
Brambles Ltd. 1,702,216 14,282,295
Caltex Australia Ltd. 295,179 5,397,144
Challenger Ltd. 607,595 3,397,245
CIMIC Group Ltd. 102,694 3,213,203
Coca-Cola Amatil Ltd. 568,277 3,752,253
Cochlear Ltd. 60,483 8,386,576
Coles Group Ltd. * 1,222,053 10,541,407
Commonwealth Bank of Australia 1,911,041 103,952,313
Computershare Ltd. 522,999 6,044,162
Crown Resorts Ltd. 400,764 3,479,196
CSL Ltd. 485,265 69,088,989
CSR Ltd. 666,337 1,842,069
Dexus 1,150,242 10,264,653
Domino's Pizza Enterprises Ltd. 67,719 1,835,006
Downer EDI Ltd. 763,238 3,770,411
DuluxGroup Ltd. 417,427 2,814,055
Evolution Mining Ltd. 1,156,526 3,101,027
Flight Centre Travel Group Ltd. 58,100 1,754,697
Fortescue Metals Group Ltd. 1,728,868 9,642,661
Goodman Group 1,898,998 17,630,656
Harvey Norman Holdings Ltd. 613,399 1,767,973
Healthscope Ltd. (b) 1,693,378 2,892,078
Iluka Resources Ltd. 426,974 2,881,374
Incitec Pivot Ltd. 1,816,336 4,127,710
Insurance Australia Group Ltd. 2,489,708 13,196,204
IOOF Holdings Ltd. 377,040 1,384,530
James Hardie Industries plc 469,346 5,963,918
LendLease Group 622,629 6,147,286
Macquarie Group Ltd. 328,802 27,407,874
Magellan Financial Group Ltd. 140,180 4,218,082
Medibank Pvt Ltd. 3,009,755 6,902,371
Metcash Ltd. 1,103,520 2,255,493
Mirvac Group 3,844,988 8,071,919
Security Number
of Shares 		Value ($)
National Australia Bank Ltd. 3,002,751 55,111,274
Newcrest Mining Ltd. 830,461 15,656,222
Northern Star Resources Ltd. 731,357 4,920,257
Nufarm Ltd. 345,305 942,623
Oil Search Ltd. 1,476,230 7,210,781
Orica Ltd. 389,091 5,569,557
Origin Energy Ltd. 1,899,605 9,449,894
Orora Ltd. 1,219,042 2,652,085
OZ Minerals Ltd. 323,916 2,024,315
Perpetual Ltd. 46,435 1,287,221
Platinum Asset Management Ltd. 185,116 586,137
Qantas Airways Ltd. 795,307 3,058,208
QBE Insurance Group Ltd. 1,415,762 11,447,227
Qube Holdings Ltd. 1,389,100 2,714,075
Ramsay Health Care Ltd. 142,393 6,889,217
REA Group Ltd. 55,160 3,400,602
Rio Tinto Ltd. 396,629 27,562,879
Santos Ltd. 1,967,405 9,187,405
Scentre Group 5,453,337 14,357,708
SEEK Ltd. 369,174 5,345,848
Seven Group Holdings Ltd. 143,437 1,864,375
Shopping Centres Australasia Property Group 1,318,349 2,310,948
Sims Metal Management Ltd. 159,937 1,050,501
Sonic Healthcare Ltd. 494,118 8,952,443
South32 Ltd. 5,479,674 12,604,685
Stockland 2,541,264 7,799,966
Suncorp Group Ltd. 1,376,370 12,425,641
Sydney Airport 1,189,237 6,105,564
Tabcorp Holdings Ltd. 2,038,338 6,369,303
Telstra Corp., Ltd. 4,492,071 11,360,008
The GPT Group 1,877,277 7,491,866
The Star Entertainment Grp Ltd. 913,518 2,829,201
TPG Telecom Ltd. 391,549 1,706,381
Transurban Group 2,895,979 27,950,250
Treasury Wine Estates Ltd. 755,832 7,881,356
Vicinity Centres 3,774,239 6,746,652
Vocus Group Ltd. * 633,986 2,016,190
Washington H Soul Pattinson & Co., Ltd. 95,674 1,479,542
Wesfarmers Ltd. 1,208,953 31,033,932
Westpac Banking Corp. 3,706,596 70,469,069
Whitehaven Coal Ltd. 972,041 2,646,771
WiseTech Global Ltd. 110,741 1,869,067
Woodside Petroleum Ltd. 1,009,292 24,768,777
Woolworths Group Ltd. 1,422,216 30,911,441
WorleyParsons Ltd. 371,660 3,393,911
Xero Ltd. * 102,066 4,229,549
    1,105,068,923
 
Austria 0.2%
ANDRITZ AG 77,476 2,780,000
Erste Group Bank AG * 305,168 10,797,032
OMV AG 149,723 7,022,458
Raiffeisen Bank International AG 141,871 3,291,516
Telekom Austria AG * 169,664 1,287,533
Verbund AG 69,755 3,482,371
 
1

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Vienna Insurance Group AG Wiener Versicherung Gruppe 39,267 958,282
voestalpine AG 125,952 3,280,088
    32,899,280
 
Belgium 0.9%
Ackermans & van Haaren N.V. 23,591 3,604,172
Ageas 201,452 9,805,639
Anheuser-Busch InBev S.A. 829,699 67,133,406
Colruyt S.A. 53,067 3,933,675
Groupe Bruxelles Lambert S.A. 80,695 7,504,930
KBC Groep N.V. 292,622 19,193,267
Proximus 152,879 4,420,861
Sofina S.A. 19,823 3,825,947
Solvay S.A. 73,383 6,875,588
Telenet Group Holding N.V. 52,957 2,846,770
UCB S.A. 131,902 10,065,534
Umicore S.A. 222,287 6,613,738
    145,823,527
 
Canada 7.8%
Agnico Eagle Mines Ltd. 266,369 11,615,099
Alimentation Couche-Tard, Inc., B Shares 454,279 27,873,691
Bank of Montreal 699,281 50,753,348
Barrick Gold Corp. 1,867,591 23,222,283
Bausch Health Cos., Inc. * 382,998 7,949,496
BCE, Inc. 340,404 15,324,349
Brookfield Asset Management, Inc., Class A 920,441 42,212,695
Canadian Imperial Bank of Commerce 479,609 36,360,031
Canadian National Railway Co. 783,054 69,402,715
Canadian Natural Resources Ltd. 1,288,661 34,802,140
Canadian Pacific Railway Ltd. 152,270 33,368,970
Canadian Tire Corp., Ltd., Class A 62,594 6,259,863
Canadian Utilities Ltd., Class A 125,090 3,525,356
Cenovus Energy, Inc. 1,185,751 9,718,264
CGI, Inc. * 261,622 19,065,759
Constellation Software, Inc. 21,720 18,803,328
Dollarama, Inc. 339,108 10,708,278
Enbridge, Inc. 2,158,799 79,459,899
Encana Corp. 1,650,992 8,707,429
Fairfax Financial Holdings Ltd. 28,709 13,166,344
Fortis, Inc. 461,782 17,437,659
Franco-Nevada Corp. 196,938 15,202,640
George Weston Ltd. 75,067 5,606,565
Great-West Lifeco, Inc. 308,574 6,984,514
Husky Energy, Inc. 319,107 2,995,390
Hydro One Ltd. 317,563 5,379,239
IGM Financial, Inc. 86,712 2,352,686
Imperial Oil Ltd. 265,374 7,092,213
Intact Financial Corp. 154,859 13,311,757
Inter Pipeline Ltd. 413,307 6,297,895
Loblaw Cos. Ltd. 203,887 10,460,539
Magna International, Inc. 331,786 14,207,479
Manulife Financial Corp. 2,135,858 35,831,984
Metro, Inc. 256,003 9,341,392
National Bank of Canada 369,692 16,601,821
Nutrien Ltd. 660,255 32,194,696
Pembina Pipeline Corp. 551,329 19,664,978
Power Corp. of Canada 411,651 8,675,151
Power Financial Corp. 268,103 5,917,741
Restaurant Brands International, Inc. 257,265 16,928,985
RioCan Real Estate Investment Trust 333,514 6,433,941
Rogers Communications, Inc., B Shares 382,550 20,122,147
Royal Bank of Canada 1,555,128 116,850,286
Saputo, Inc. 234,703 7,808,966
Security Number
of Shares 		Value ($)
Shaw Communications, Inc., B Shares 496,022 10,071,606
Shopify, Inc., Class A * 105,204 28,936,353
SNC-Lavalin Group, Inc. 193,475 3,447,602
Sun Life Financial, Inc. 673,099 26,119,368
Suncor Energy, Inc. 1,728,817 53,262,244
TC Energy Corp. 990,069 48,254,787
Teck Resources Ltd., Class B 542,346 11,020,227
TELUS Corp. 206,839 7,637,697
The Bank of Nova Scotia 1,331,285 67,514,535
The Toronto-Dominion Bank 1,990,732 108,820,989
Thomson Reuters Corp. 219,093 13,921,214
Waste Connections, Inc. 278,383 26,330,967
Wheaton Precious Metals Corp. 480,569 10,625,200
    1,341,962,790
 
Denmark 1.5%
Ambu A/S, Class B 178,829 2,771,332
AP Moller - Maersk A/S, A Shares 4,339 4,419,127
AP Moller - Maersk A/S, B Shares 7,421 7,951,170
Carlsberg A/S, B Shares 113,809 14,955,449
Chr Hansen Holding A/S 106,269 11,065,773
Coloplast A/S, B Shares 142,336 15,135,778
Danske Bank A/S 712,514 11,695,809
Demant A/S * 126,175 4,215,718
DSV A/S 193,622 17,260,926
Genmab A/S * 60,089 10,289,443
GN Store Nord A/S 145,475 6,833,879
H. Lundbeck A/S 65,881 2,638,681
ISS A/S 199,603 5,604,224
Jyske Bank A/S 74,932 2,839,058
Novo Nordisk A/S, B Shares 1,834,612 86,155,926
Novozymes A/S, B Shares 234,158 10,992,890
Orsted A/S 159,431 12,675,969
Pandora A/S 110,457 4,092,740
Rockwool International A/S, B Shares 6,179 1,574,890
The Drilling Co. of 1972 A/S * 23,836 1,518,817
Tryg A/S 113,915 3,559,605
Vestas Wind Systems A/S 216,642 17,716,070
    255,963,274
 
Finland 1.0%
Elisa Oyj 153,036 6,807,785
Fortum Oyj 451,705 9,629,230
Huhtamaki Oyj 111,576 4,237,328
Kesko Oyj, B Shares 74,805 3,920,372
Kone Oyj, B Shares 424,933 23,112,714
Metso Oyj 108,673 3,505,838
Neste Oyj 438,628 14,790,639
Nokia Oyj 6,092,009 30,413,068
Nokian Renkaat Oyj * 143,506 4,092,249
Nordea Bank Abp 3,438,262 24,283,589
Orion Oyj, Class B 111,149 3,626,589
Sampo Oyj, A Shares 530,761 22,924,742
Stora Enso Oyj, R Shares 592,240 6,244,567
UPM-Kymmene Oyj 586,084 14,642,565
Wartsila Oyj Abp 491,480 7,166,403
    179,397,678
 
France 9.0%
Accor S.A. 216,325 7,964,682
Aeroports de Paris 29,458 5,029,024
Air France-KLM * 228,788 1,972,293
Air Liquide S.A. 454,856 56,515,877
Airbus SE 591,674 75,730,875
ALD S.A. 85,935 1,304,274
Alstom S.A. 171,213 7,799,546
 
2

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Amundi S.A. 65,868 4,264,541
Arkema S.A. 74,840 6,264,855
Atos SE 102,660 7,804,313
AXA S.A. 2,077,970 51,128,143
BioMerieux 42,952 3,501,220
BNP Paribas S.A. 1,158,203 52,755,061
Bollore S.A. 1,028,663 4,633,307
Bouygues S.A. 222,670 7,773,986
Bureau Veritas S.A. 296,530 6,975,551
Capgemini SE 166,016 18,518,496
Carrefour S.A. 601,007 11,278,291
Casino Guichard Perrachon S.A. (a) 63,052 2,393,827
Cie Generale des Etablissements Michelin S.C.A. 193,401 22,187,417
Cie Plastic Omnium S.A. 74,185 1,702,962
CNP Assurances 197,557 4,224,634
Compagnie de Saint-Gobain 518,788 18,739,484
Covivio 44,375 4,643,288
Credit Agricole S.A. (a) 1,259,077 14,353,229
Danone S.A. 640,595 50,968,686
Dassault Aviation S.A. 2,723 3,389,397
Dassault Systemes S.A. 140,157 20,749,041
Edenred 257,935 11,755,883
Eiffage S.A. 88,983 8,485,960
Electricite de France S.A. 526,597 7,370,377
Elis S.A. 211,750 3,539,455
Engie S.A. 1,773,294 24,602,077
EssilorLuxottica S.A. 312,469 35,916,817
Eurazeo SE 54,669 3,816,664
Eurofins Scientific SE (a) 12,160 5,517,763
Eutelsat Communications S.A. 218,296 3,837,398
Faurecia S.A. 92,519 3,409,469
Gecina S.A. 59,877 8,540,665
Getlink SE 527,214 8,113,389
Hermes International 32,534 21,564,039
ICADE 34,437 2,918,409
Iliad S.A. 26,533 3,058,712
Imerys S.A. 39,473 1,708,445
Ingenico Group S.A. 66,456 5,300,875
Ipsen S.A. 36,739 4,376,498
JCDecaux S.A. 80,597 2,245,332
Kering S.A. 79,805 41,437,266
Klepierre S.A. 215,001 7,300,198
L'Oreal S.A. 258,797 69,329,071
Lagardere S.C.A. 137,055 3,329,454
Legrand S.A. 283,132 18,974,662
LVMH Moet Hennessy Louis Vuitton SE 268,650 101,366,739
Natixis S.A. (a) 877,177 4,016,475
Orange S.A. 2,069,349 32,375,950
Orpea 52,145 5,921,184
Pernod-Ricard S.A. 229,774 40,404,484
Peugeot S.A. 582,211 12,956,275
Publicis Groupe S.A. 234,169 12,760,272
Remy Cointreau S.A. 23,872 3,272,017
Renault S.A. 206,235 12,391,787
Rexel S.A. 313,125 3,374,162
Rubis S.C.A. 92,541 4,607,539
Safran S.A. 349,978 45,902,769
Sanofi 1,171,405 94,298,870
Sartorius Stedim Biotech 23,337 3,227,294
Schneider Electric SE 550,304 43,416,779
SCOR SE 162,016 6,649,382
SEB S.A. 28,959 4,721,169
SES S.A. 368,534 5,552,338
Societe BIC S.A. 29,199 2,274,400
Societe Generale S.A. 764,157 19,125,554
Sodexo S.A. 92,003 10,559,926
STMicroelectronics N.V. 674,554 10,294,386
Suez 395,405 5,276,420
Security Number
of Shares 		Value ($)
TechnipFMC plc 496,952 10,411,037
Teleperformance 64,447 12,352,442
Thales S.A. 111,180 12,210,938
Total S.A. 2,690,092 139,812,935
Ubisoft Entertainment S.A. * 91,042 7,442,568
Valeo S.A. 261,891 6,910,730
Veolia Environnement S.A. 532,638 12,292,322
Vinci S.A. 496,871 48,979,265
Vivendi S.A. 1,032,560 27,764,784
Wendel S.A. 32,823 4,169,700
Worldline S.A. *(a) 84,789 5,092,722
    1,553,200,792
 
Germany 7.0%
1&1 Drillisch AG 58,601 1,786,664
adidas AG 204,548 58,397,740
Allianz SE 454,543 100,726,580
Aroundtown S.A. 769,586 6,519,386
Axel Springer SE 48,018 2,972,418
BASF SE 982,213 64,642,895
Bayer AG 1,003,963 59,093,237
Bayerische Motoren Werke AG 347,327 24,004,462
Beiersdorf AG 108,462 12,455,102
Brenntag AG 171,766 7,958,723
Carl Zeiss Meditec AG 42,253 3,966,881
Commerzbank AG 1,158,529 8,135,926
Continental AG 114,931 15,599,337
Covestro AG 172,229 7,529,156
Daimler AG 929,805 48,112,620
Delivery Hero SE * 121,591 5,223,330
Deutsche Bank AG 2,188,156 14,842,370
Deutsche Boerse AG 199,021 27,445,161
Deutsche Lufthansa AG 253,755 4,821,261
Deutsche Post AG 1,034,734 30,417,617
Deutsche Telekom AG 3,467,161 58,379,470
Deutsche Wohnen SE 383,498 18,055,582
DWS Group GmbH & Co. KGaA 38,515 1,266,116
E.ON SE 2,347,885 24,460,406
Evonik Industries AG 180,536 4,731,761
Fielmann AG 26,671 1,867,954
Fraport AG Frankfurt Airport Services Worldwide 41,191 3,236,034
Fresenius Medical Care AG & Co. KGaA 228,873 16,649,316
Fresenius SE & Co. KGaA 438,618 22,195,229
FUCHS PETROLUB SE 35,560 1,248,228
GEA Group AG 182,539 4,979,535
GRENKE AG 30,270 2,884,033
Hannover Rueck SE 68,285 10,211,734
HeidelbergCement AG 159,151 11,804,412
Hella GmbH & Co. KGaA 50,808 2,346,246
Henkel AG & Co. KGaA 114,280 9,882,200
HOCHTIEF AG 20,122 2,390,287
HUGO BOSS AG 68,470 3,975,207
Infineon Technologies AG 1,226,282 21,978,907
Innogy SE 130,187 5,887,099
K+S AG 205,060 3,472,189
KION Group AG 74,232 4,040,066
Knorr-Bremse AG 54,583 5,994,262
LANXESS AG 102,169 5,108,541
LEG Immobilien AG 68,702 8,184,059
Merck KGaA 144,327 13,905,432
METRO AG 192,455 3,026,063
MTU Aero Engines AG 55,501 11,973,685
Muenchener Rueckversicherungs-Gesellschaft AG 162,621 39,160,937
OSRAM Licht AG 108,383 3,225,943
ProSiebenSat.1 Media SE 252,013 4,088,895
Puma SE 9,304 5,396,499
 
3

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
QIAGEN N.V. * 233,695 8,895,881
Rational AG 3,262 2,070,138
Rheinmetall AG 47,023 4,993,728
Rocket Internet SE * 76,620 2,042,326
RTL Group S.A. 46,870 2,239,605
RWE AG 598,352 14,909,059
SAP SE 1,047,439 128,883,749
Scout24 AG 113,051 5,601,000
Siemens AG 825,606 93,326,238
Siemens Healthineers AG 143,389 5,568,527
Suedzucker AG 81,918 1,267,953
Symrise AG 136,111 12,719,492
Talanx AG * 40,267 1,595,632
Telefonica Deutschland Holding AG 790,210 2,211,113
ThyssenKrupp AG 503,212 6,356,151
Uniper SE 204,188 5,713,452
United Internet AG 125,244 4,473,080
Volkswagen AG 34,065 5,394,164
Vonovia SE 553,513 28,965,271
Wacker Chemie AG 21,280 1,680,330
Wirecard AG 125,418 19,580,315
Zalando SE * 152,558 6,041,908
    1,205,186,305
 
Hong Kong 3.6%
AAC Technologies Holdings, Inc. 773,889 4,115,932
AIA Group Ltd. 13,082,709 122,892,083
ASM Pacific Technology Ltd. 327,439 3,176,019
BOC Aviation Ltd. 243,267 2,027,600
BOC Hong Kong Holdings Ltd. 3,919,634 15,047,539
Brightoil Petroleum Holdings Ltd. *(b) 2,936,732 —
Cafe de Coral Holdings Ltd. 194,052 476,681
Cathay Pacific Airways Ltd. 814,536 1,159,386
Champion REIT 2,563,886 2,086,281
China Mengniu Dairy Co., Ltd. * 2,876,253 10,510,060
Chow Tai Fook Jewellery Group Ltd. 1,068,409 912,990
CK Asset Holdings Ltd. 2,874,032 20,783,952
CK Hutchison Holdings Ltd. 2,858,411 26,996,236
CK Infrastructure Holdings Ltd. 677,684 5,233,532
CLP Holdings Ltd. 1,770,723 20,020,865
Dairy Farm International Holdings Ltd. 339,551 2,597,565
First Pacific Co., Ltd. 2,591,201 1,050,949
Galaxy Entertainment Group Ltd. 2,396,233 14,486,413
Great Eagle Holdings Ltd. 359,407 1,592,923
Haitong International Securities Group Ltd. 3,285,976 976,503
Hang Lung Group Ltd. 1,055,713 2,820,872
Hang Lung Properties Ltd. 2,321,813 4,886,126
Hang Seng Bank Ltd. 773,218 19,378,403
Henderson Land Development Co., Ltd. 1,475,388 7,621,049
Hong Kong & China Gas Co., Ltd. 10,970,514 24,234,180
Hong Kong Exchanges & Clearing Ltd. 1,346,803 42,840,447
Hongkong Land Holdings Ltd. 1,248,851 8,142,508
Hysan Development Co., Ltd. 703,596 3,661,314
Jardine Matheson Holdings Ltd. 227,108 14,575,791
Jardine Strategic Holdings Ltd. 200,403 7,483,048
Johnson Electric Holdings Ltd. 308,112 585,529
Kerry Logistics Network Ltd. 663,373 1,077,905
Kerry Properties Ltd. 623,918 2,367,380
L'Occitane International S.A. 740,562 1,320,450
Lenovo Group Ltd. 8,477,494 5,892,742
Li & Fung Ltd. 7,205,001 1,056,782
Lifestyle International Holdings Ltd. 761,672 1,115,227
Link REIT 2,265,179 27,099,348
Melco International Development Ltd. 891,414 1,784,977
MGM China Holdings Ltd. 897,409 1,384,935
Minth Group Ltd. 729,309 2,111,499
MMG Ltd. * 2,741,856 835,788
Security Number
of Shares 		Value ($)
MTR Corp. Ltd. 1,574,449 9,628,767
NagaCorp Ltd. 1,445,568 1,653,806
New World Development Co., Ltd. 6,284,811 9,266,240
Nexteer Automotive Group Ltd. 906,124 1,109,462
NWS Holdings Ltd. 1,591,194 3,137,517
PCCW Ltd. 4,903,561 2,789,330
Power Assets Holdings Ltd. 1,438,641 9,945,009
PRADA S.p.A. 553,218 1,552,289
Samsonite International S.A. * 1,582,146 3,248,822
Sands China Ltd. 2,608,582 11,810,990
Semiconductor Manufacturing International Corp. * 3,342,227 4,019,769
Shangri-La Asia Ltd. 1,379,895 1,759,947
Shougang Fushan Resources Group Ltd. 4,507,202 937,018
Shui On Land Ltd. 2,296,946 521,464
Sino Land Co., Ltd. 3,464,397 5,540,879
SJM Holdings Ltd. 2,152,914 2,383,416
Sun Art Retail Group Ltd. 2,506,024 2,186,225
Sun Hung Kai Properties Ltd. 1,541,462 24,398,216
Swire Pacific Ltd., Class A 491,101 5,812,624
Swire Pacific Ltd., Class B 1,182,232 2,231,608
Swire Properties Ltd. 1,166,557 4,805,759
Techtronic Industries Co., Ltd. 1,338,975 8,538,782
The Bank of East Asia Ltd. 1,390,282 4,326,595
The Wharf Holdings Ltd. 1,399,591 3,579,060
Tingyi Cayman Islands Holding Corp. 2,043,281 3,320,099
Towngas China Co., Ltd. * 848,700 639,728
Uni-President China Holdings Ltd. 1,742,605 1,851,388
United Energy Group Ltd. * 9,521,124 1,639,364
Vitasoy International Holdings Ltd. 823,988 4,419,166
VTech Holdings Ltd. 182,641 1,514,137
Want Want China Holdings Ltd. 6,262,108 4,464,634
WH Group Ltd. 9,031,514 8,132,400
Wharf Real Estate Investment Co., Ltd. 1,323,627 9,040,211
Wheelock & Co., Ltd. 903,554 5,981,016
Wynn Macau Ltd. 1,518,569 3,242,227
Xinyi Glass Holdings Ltd. 2,165,576 2,168,186
Xinyi Solar Holdings Ltd. 3,470,142 1,903,133
Yue Yuen Industrial Holdings Ltd. 806,897 2,258,947
    614,178,039
 
Ireland 0.2%
AIB Group plc 815,660 3,346,683
Bank of Ireland Group plc 982,876 5,259,477
Glanbia plc 220,856 3,669,514
Kerry Group plc, A Shares 154,971 17,873,618
Kingspan Group plc 159,056 8,270,209
    38,419,501
 
Israel 0.4%
Airport City Ltd. * 104,703 1,870,006
Alony Hetz Properties & Investments Ltd. 153,069 1,949,117
Azrieli Group Ltd. 47,297 2,822,281
Bank Hapoalim B.M. 1,217,437 8,831,636
Bank Leumi Le-Israel 1,611,443 10,868,202
Bezeq The Israeli Telecommunication Corp., Ltd. 2,494,058 1,545,296
Delek Group Ltd. 6,665 1,183,027
Elbit Systems Ltd. 27,411 3,928,593
First International Bank of Israel Ltd. * 82,211 1,984,919
Harel Insurance Investments & Financial Services Ltd. 88,085 669,341
Israel Chemicals Ltd. 747,407 3,775,969
Israel Discount Bank Ltd., A Shares 1,393,140 5,352,617
Mizrahi Tefahot Bank Ltd. * 155,427 3,421,947
Nice Ltd. * 67,935 9,414,508
 
4

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Paz Oil Co., Ltd. 14,165 1,971,591
Strauss Group Ltd. 62,608 1,663,473
Teva Pharmaceutical Industries Ltd. * 1,043,913 9,943,673
The Israel Corp., Ltd. * 3,246 720,289
Tower Semiconductor Ltd. * 104,474 1,585,164
    73,501,649
 
Italy 2.1%
A2A S.p.A. 1,681,823 2,735,307
Assicurazioni Generali S.p.A. 1,395,892 24,444,878
Atlantia S.p.A. 567,680 14,208,068
Banca Mediolanum S.p.A. 341,908 2,274,601
Banco BPM S.p.A. * 1,632,262 3,043,039
Buzzi Unicem S.p.A. 104,247 2,037,000
CNH Industrial N.V. 1,080,852 9,392,282
Davide Campari-Milano S.p.A. 626,672 6,106,914
DiaSorin S.p.A. 24,364 2,485,585
Enel S.p.A. 8,417,409 52,246,271
Eni S.p.A. 2,686,063 40,647,856
EXOR N.V. 112,040 7,019,168
Ferrari N.V. 134,106 19,068,677
Fiat Chrysler Automobiles N.V. 1,206,336 15,375,883
FinecoBank Banca Fineco S.p.A. 533,446 5,514,078
Hera S.p.A. 980,029 3,549,310
Intesa Sanpaolo S.p.A. 16,505,369 33,728,644
Italgas S.p.A. 509,440 3,217,693
Leonardo S.p.A. 413,898 4,585,522
Mediaset S.p.A. *(a) 364,881 1,064,899
Mediobanca S.p.A. 799,595 7,370,590
Moncler S.p.A. 196,462 7,224,606
Pirelli & C S.p.A. 468,955 2,668,294
Poste Italiane S.p.A. 493,591 4,785,289
Prysmian S.p.A. 282,149 4,694,183
Recordati S.p.A. 103,171 4,253,839
Saipem S.p.A. * 612,409 2,615,785
Salvatore Ferragamo Italia S.p.A. 73,664 1,530,932
Snam S.p.A. 2,482,866 12,461,587
Telecom Italia S.p.A. * 10,422,708 5,108,077
Tenaris S.A. 482,326 5,670,414
Terna Rete Elettrica Nazionale S.p.A. 1,544,012 9,404,636
UniCredit S.p.A. 2,415,090 27,418,515
Unione di Banche Italiane S.p.A. (a) 1,063,169 2,711,876
UnipolSai Assicurazioni S.p.A. 670,503 1,630,336
    352,294,634
 
Japan 22.0%
ABC-Mart, Inc. 27,459 1,714,686
Acom Co., Ltd. 464,772 1,558,158
Advantest Corp. 205,308 4,823,769
Aeon Co., Ltd. 736,635 12,738,036
AEON Financial Service Co., Ltd. 117,979 1,887,447
Aeon Mall Co., Ltd. 122,395 1,798,020
AGC, Inc. 196,495 6,325,121
Aica Kogyo Co., Ltd. 56,777 1,879,929
Ain Holdings, Inc. 35,318 2,699,879
Air Water, Inc. 165,648 2,468,510
Aisin Seiki Co., Ltd. 183,288 6,085,685
Ajinomoto Co., Inc. 516,539 8,786,991
Alfresa Holdings Corp. 183,772 4,629,210
Alps Alpine Co., Ltd. 207,762 3,444,362
Amada Holdings Co., Ltd. 368,688 3,803,183
ANA Holdings, Inc. 114,534 3,835,557
Aoyama Trading Co., Ltd. 58,914 1,136,770
Aozora Bank Ltd. 125,962 3,061,605
Ariake Japan Co., Ltd. 21,375 1,383,986
Asahi Group Holdings Ltd. 417,717 18,378,394
Asahi Intecc Co., Ltd. 108,035 5,532,347
Security Number
of Shares 		Value ($)
Asahi Kasei Corp. 1,381,202 14,234,999
Asics Corp. 203,494 2,245,322
Astellas Pharma, Inc. 2,080,954 28,030,350
Autobacs Seven Co., Ltd. 76,497 1,189,288
Azbil Corp. 136,976 3,219,551
Bandai Namco Holdings, Inc. 205,749 10,119,269
Benefit One, Inc. 62,712 1,194,459
Benesse Holdings, Inc. 71,258 1,659,132
Bic Camera, Inc. 162,589 1,695,149
Bridgestone Corp. 668,925 25,007,291
Brother Industries Ltd. 251,945 4,323,035
Calbee, Inc. 79,122 2,244,492
Canon Marketing Japan, Inc. 36,268 774,630
Canon, Inc. 1,088,914 30,739,318
Capcom Co., Ltd. 93,975 1,933,596
Casio Computer Co., Ltd. 229,320 2,557,739
Central Japan Railway Co. 194,178 40,498,833
Chubu Electric Power Co., Inc. 748,075 10,207,443
Chugai Pharmaceutical Co., Ltd. 237,678 15,848,848
Citizen Watch Co., Ltd. 291,197 1,343,677
Coca-Cola Bottlers Japan Holdings, Inc. 154,213 3,505,390
COMSYS Holdings Corp. 124,330 2,987,584
Concordia Financial Group Ltd. 1,242,856 4,761,944
Cosmo Energy Holdings Co., Ltd. 62,836 1,237,332
Cosmos Pharmaceutical Corp. 8,503 1,343,877
Credit Saison Co., Ltd. 172,986 1,864,090
CyberAgent, Inc. 103,562 3,987,006
Dai Nippon Printing Co., Ltd. 315,936 6,852,676
Dai-ichi Life Holdings, Inc. 1,192,466 17,287,050
Daicel Corp. 299,192 2,548,953
Daido Steel Co., Ltd. 41,152 1,449,748
Daifuku Co., Ltd. 97,819 4,928,114
Daiichi Sankyo Co., Ltd. 690,119 33,401,569
Daiichikosho Co., Ltd. 49,700 2,286,452
Daikin Industries Ltd. 284,759 34,698,242
Daishi Hokuetsu Financial Group, Inc. 44,033 1,132,306
Daito Trust Construction Co., Ltd. 75,888 9,879,594
Daiwa House Industry Co., Ltd. 694,773 20,803,196
Daiwa Securities Group, Inc. 1,671,184 7,301,954
DeNA Co., Ltd. 126,395 2,551,765
Denka Co., Ltd. 102,298 2,930,203
Denso Corp. 488,624 18,910,413
Dentsu, Inc. 244,240 7,985,743
DIC Corp. 83,705 2,039,141
Disco Corp. 29,554 4,129,258
DMG Mori Co., Ltd. 108,305 1,348,638
Dowa Holdings Co., Ltd. 50,997 1,592,262
East Japan Railway Co. 396,864 37,685,175
Ebara Corp. 102,679 2,625,254
Eisai Co., Ltd. 288,395 16,954,412
Electric Power Development Co., Ltd. 184,224 4,039,948
Ezaki Glico Co., Ltd. 71,776 3,411,137
FamilyMart UNY Holdings Co., Ltd. 245,454 5,913,955
Fancl Corp. 72,492 1,960,272
FANUC Corp. 209,464 35,642,159
Fast Retailing Co., Ltd. 55,435 32,048,399
FP Corp. 24,112 1,410,188
Fuji Electric Co., Ltd. 129,888 4,342,560
Fuji Oil Holdings, Inc. 50,256 1,522,839
Fuji Seal International, Inc. 56,062 1,949,197
FUJIFILM Holdings Corp. 393,305 18,832,997
Fujikura Ltd. 337,463 1,112,703
Fujitsu Ltd. 203,926 13,814,190
Fukuoka Financial Group, Inc. 174,917 2,998,117
Fukuyama Transporting Co., Ltd. 27,012 965,292
Furukawa Electric Co., Ltd. 68,641 1,835,906
Fuyo General Lease Co., Ltd. 21,371 1,041,240
Glory Ltd. 61,396 1,517,724
GMO internet, Inc. 60,380 940,388
 
5

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
GMO Payment Gateway, Inc. 46,014 3,093,734
Goldwin, Inc. 22,234 2,834,157
GS Yuasa Corp. 83,000 1,483,795
GungHo Online Entertainment, Inc. 523,256 1,619,286
H2O Retailing Corp. 84,845 918,194
Hakuhodo DY Holdings, Inc. 272,584 4,288,036
Hamamatsu Photonics K.K. 142,269 5,110,284
Hankyu Hanshin Holdings, Inc. 232,812 8,384,020
Haseko Corp. 301,153 3,003,902
Heiwa Corp. 81,104 1,662,044
Hikari Tsushin, Inc. 24,866 5,043,052
Hino Motors Ltd. 282,465 2,239,948
Hirose Electric Co., Ltd. 36,171 3,964,402
HIS Co., Ltd. 34,124 999,441
Hisamitsu Pharmaceutical Co., Inc. 73,489 2,951,066
Hitachi Capital Corp. 54,701 1,158,256
Hitachi Chemical Co., Ltd. 119,209 3,190,618
Hitachi Construction Machinery Co., Ltd. 119,880 2,794,532
Hitachi High-Technologies Corp. 63,842 2,719,496
Hitachi Ltd. 996,317 33,823,850
Hitachi Metals Ltd. 245,929 2,450,796
Hitachi Transport System Ltd. 47,882 1,422,238
Hokkaido Electric Power Co., Inc. 192,866 1,042,711
Hokuhoku Financial Group, Inc. 215,079 2,309,759
Hokuriku Electric Power Co. * 167,614 1,211,853
Honda Motor Co., Ltd. 1,881,250 45,933,168
Horiba Ltd. 37,760 1,763,235
Hoshizaki Corp. 58,441 4,424,453
House Foods Group, Inc. 78,336 3,192,602
Hoya Corp. 391,357 27,242,701
Hulic Co., Ltd. 401,419 3,186,951
Ibiden Co., Ltd. 111,984 1,739,968
Idemitsu Kosan Co., Ltd. 241,009 6,825,721
IHI Corp. 140,080 3,126,077
Iida Group Holdings Co., Ltd. 147,415 2,338,003
Inpex Corp. 1,068,510 8,648,460
Isetan Mitsukoshi Holdings Ltd. 401,771 3,322,960
Isuzu Motors Ltd. 553,720 6,119,862
Ito En Ltd. 59,274 2,806,064
ITOCHU Corp. 1,517,755 27,943,746
Itochu Techno-Solutions Corp. 109,818 2,726,865
Izumi Co., Ltd. 44,191 1,888,522
J Front Retailing Co., Ltd. 268,835 2,810,295
Japan Airlines Co., Ltd. 126,970 3,991,238
Japan Airport Terminal Co., Ltd. 46,472 1,763,432
Japan Exchange Group, Inc. 581,053 9,012,141
Japan Post Bank Co., Ltd. 466,652 4,779,342
Japan Post Holdings Co., Ltd. 1,446,299 16,011,526
Japan Post Insurance Co., Ltd. 205,190 3,915,760
Japan Tobacco, Inc. 1,307,550 30,016,748
JFE Holdings, Inc. 542,034 7,528,319
JGC Corp. 237,818 3,176,018
JSR Corp. 189,449 2,695,820
JTEKT Corp. 243,367 2,582,167
JXTG Holdings, Inc. 3,398,586 16,229,950
K's Holdings Corp. 202,409 1,925,752
Kagome Co., Ltd. 83,786 1,959,315
Kajima Corp. 485,094 6,652,590
Kakaku.com, Inc. 137,115 2,780,817
Kaken Pharmaceutical Co., Ltd. 36,370 1,721,776
Kamigumi Co., Ltd. 116,982 2,762,531
Kandenko Co., Ltd. 118,549 960,839
Kaneka Corp. 58,539 2,021,840
Kansai Mirai Financial Group, Inc. 206,193 1,329,359
Kansai Paint Co., Ltd. 216,702 4,105,512
Kao Corp. 511,198 39,925,941
Kawasaki Heavy Industries Ltd. 166,746 3,736,523
Kawasaki Kisen Kaisha Ltd. *(a) 91,045 1,028,894
KDDI Corp. 1,869,183 48,005,681
Security Number
of Shares 		Value ($)
Keihan Holdings Co., Ltd. 104,427 4,506,014
Keikyu Corp. 278,102 4,710,381
Keio Corp. 129,462 8,632,787
Keisei Electric Railway Co., Ltd. 158,251 5,917,560
Kewpie Corp. 126,070 2,822,714
Keyence Corp. 96,959 54,929,294
Kikkoman Corp. 190,856 7,919,008
Kinden Corp. 143,675 2,209,876
Kintetsu Group Holdings Co., Ltd. 192,915 9,239,309
Kirin Holdings Co., Ltd. 856,563 18,578,917
Kissei Pharmaceutical Co., Ltd. 34,114 799,633
Kobayashi Pharmaceutical Co., Ltd. 65,959 4,908,577
Kobe Steel Ltd. 336,930 2,088,454
Koei Tecmo Holdings Co., Ltd. 69,278 1,262,732
Koito Manufacturing Co., Ltd. 124,557 5,781,877
Kokuyo Co., Ltd. 97,920 1,290,569
Komatsu Ltd. 976,191 21,726,600
Konami Holdings Corp. 110,523 5,211,861
Konica Minolta, Inc. 488,700 4,311,993
Kose Corp. 29,830 4,717,302
Kubota Corp. 1,192,748 18,241,382
Kuraray Co., Ltd. 369,779 4,243,561
Kurita Water Industries Ltd. 116,871 2,808,349
Kusuri no Aoki Holdings Co., Ltd. 21,536 1,372,591
Kyocera Corp. 333,497 20,346,158
Kyoritsu Maintenance Co., Ltd. 27,678 1,386,768
Kyowa Exeo Corp. 102,514 2,410,483
Kyowa Hakko Kirin Co., Ltd. 277,865 5,246,357
Kyudenko Corp. 42,622 1,209,079
Kyushu Electric Power Co., Inc. 492,413 4,857,235
Kyushu Financial Group, Inc. 411,733 1,626,834
Kyushu Railway Co. 169,230 5,050,013
Lawson, Inc. 51,942 2,425,475
LINE Corp. *(a) 51,558 1,505,308
Lintec Corp. 53,431 1,057,055
Lion Corp. 265,563 5,146,162
LIXIL Group Corp. 286,290 3,670,418
M3, Inc. 418,010 7,900,129
Mabuchi Motor Co., Ltd. 63,226 2,113,842
Maeda Corp. 166,749 1,356,107
Maeda Road Construction Co., Ltd. 68,538 1,379,282
Makita Corp. 260,510 9,141,544
Marubeni Corp. 1,674,983 10,542,790
Maruha Nichiro Corp. 46,115 1,403,731
Marui Group Co., Ltd. 218,617 4,558,590
Maruichi Steel Tube Ltd. 68,589 1,797,243
Matsui Securities Co., Ltd. 107,611 1,012,926
Matsumotokiyoshi Holdings Co., Ltd. 81,608 2,408,967
Mazda Motor Corp. 626,319 6,123,303
Mebuki Financial Group, Inc. 1,179,929 2,966,803
Medipal Holdings Corp. 171,696 3,717,774
Megmilk Snow Brand Co., Ltd. 53,009 1,053,101
MEIJI Holdings Co., Ltd. 144,074 10,098,118
MINEBEA MITSUMI, Inc. 461,252 6,780,181
Miraca Holdings, Inc. 57,770 1,317,417
MISUMI Group, Inc. 290,094 6,842,558
Mitsubishi Chemical Holdings Corp. 1,368,789 8,967,254
Mitsubishi Corp. 1,382,348 36,069,002
Mitsubishi Electric Corp. 2,120,604 26,572,247
Mitsubishi Estate Co., Ltd. 1,291,556 23,755,352
Mitsubishi Gas Chemical Co., Inc. 193,499 2,414,839
Mitsubishi Heavy Industries Ltd. 311,927 13,683,705
Mitsubishi Logistics Corp. 83,842 2,242,479
Mitsubishi Materials Corp. 161,175 4,205,469
Mitsubishi Motors Corp. 671,750 3,167,727
Mitsubishi Tanabe Pharma Corp. 254,627 3,008,855
Mitsubishi UFJ Financial Group, Inc. 13,558,093 62,573,893
Mitsubishi UFJ Lease & Finance Co., Ltd. 498,654 2,489,251
Mitsui & Co., Ltd. 1,833,046 28,320,835
 
6

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Mitsui Chemicals, Inc. 197,948 4,351,848
Mitsui Fudosan Co., Ltd. 1,009,534 24,467,775
Mitsui Mining & Smelting Co., Ltd. 59,059 1,251,077
Mitsui OSK Lines Ltd. 123,230 2,628,604
Miura Co., Ltd. 98,853 3,072,796
Mizuho Financial Group, Inc. 27,368,477 38,743,126
Mochida Pharmaceutical Co., Ltd. 27,276 1,246,042
MonotaRO Co., Ltd. 128,840 2,754,203
Morinaga & Co., Ltd. 43,939 1,987,018
Morinaga Milk Industry Co., Ltd. 33,918 1,232,388
MS&AD Insurance Group Holdings, Inc. 523,138 16,603,579
Murata Manufacturing Co., Ltd. 615,624 26,677,513
Nabtesco Corp. 124,192 3,139,830
Nagase & Co., Ltd. 170,492 2,490,447
Nagoya Railroad Co., Ltd. 201,561 5,565,553
Nankai Electric Railway Co., Ltd. 112,929 2,951,808
NEC Corp. 271,872 10,078,607
Nexon Co., Ltd. * 494,530 7,365,001
NGK Insulators Ltd. 288,545 3,917,249
NGK Spark Plug Co., Ltd. 220,011 3,872,356
NH Foods Ltd. 109,861 4,441,997
NHK Spring Co., Ltd. 266,985 1,962,275
Nichirei Corp. 119,721 2,926,452
Nidec Corp. 252,398 31,591,884
Nifco, Inc. 93,463 2,345,721
Nihon Kohden Corp. 82,167 2,364,926
Nihon M&A Center, Inc. 142,453 3,546,401
Nihon Unisys Ltd. 72,712 2,374,064
Nikon Corp. 376,344 5,150,791
Nintendo Co., Ltd. 116,488 41,520,475
Nippo Corp. 59,390 1,159,083
Nippon Electric Glass Co., Ltd. 84,811 2,041,869
Nippon Express Co., Ltd. 80,487 4,292,146
Nippon Gas Co., Ltd. 42,451 1,007,955
Nippon Kayaku Co., Ltd. 180,741 2,084,161
Nippon Paint Holdings Co., Ltd. 171,702 6,800,079
Nippon Paper Industries Co., Ltd. 106,347 1,823,791
Nippon Shinyaku Co., Ltd. 56,810 3,934,711
Nippon Shokubai Co., Ltd. 34,736 2,085,920
Nippon Steel Corp. 847,471 14,100,450
Nippon Telegraph & Telephone Corp. 705,497 31,618,222
Nippon Yusen K.K. 177,036 2,678,979
Nipro Corp. 127,400 1,409,232
Nishi-Nippon Financial Holdings, Inc. 160,922 1,178,291
Nishi-Nippon Railroad Co., Ltd. 85,694 1,871,338
Nissan Chemical Corp. 153,800 6,530,214
Nissan Motor Co., Ltd. 2,108,140 14,263,317
Nisshin Seifun Group, Inc. 282,769 6,573,419
Nisshinbo Holdings, Inc. 158,963 1,103,920
Nissin Foods Holdings Co., Ltd. 71,738 4,347,557
Nitori Holdings Co., Ltd. 79,712 9,489,087
Nitto Denko Corp. 166,481 7,283,304
NOF Corp. 72,606 2,618,029
NOK Corp. 128,063 1,645,387
Nomura Holdings, Inc. 3,590,589 11,319,904
Nomura Real Estate Holdings, Inc. 145,064 2,984,785
Nomura Research Institute Ltd. 113,540 5,552,820
NS Solutions Corp. 40,134 1,251,242
NSK Ltd. 481,117 3,868,433
NTN Corp. 508,705 1,339,992
NTT Data Corp. 665,482 7,968,009
NTT DOCOMO, Inc. 1,293,857 29,738,155
Obayashi Corp. 712,572 6,549,821
Obic Co., Ltd. 72,473 8,764,177
Odakyu Electric Railway Co., Ltd. 323,754 7,991,349
Oji Holdings Corp. 966,079 5,018,361
OKUMA Corp. 34,324 1,678,659
Olympus Corp. 1,219,446 14,432,311
Omron Corp. 204,116 9,700,562
Security Number
of Shares 		Value ($)
Ono Pharmaceutical Co., Ltd. 475,065 8,400,873
Open House Co., Ltd. 33,864 1,398,849
Oracle Corp. Japan 34,850 2,436,210
Oriental Land Co., Ltd. 202,631 24,728,167
ORIX Corp. 1,376,168 19,455,841
Osaka Gas Co., Ltd. 425,092 7,544,576
OSG Corp. 86,690 1,640,782
Otsuka Corp. 104,146 4,043,061
Otsuka Holdings Co., Ltd. 447,371 15,022,930
PALTAC Corp. 37,770 1,948,073
Pan Pacific International Holdings Corp. 134,115 8,300,740
Panasonic Corp. 2,276,939 18,135,822
Park24 Co., Ltd. 114,924 2,159,290
Penta-Ocean Construction Co., Ltd. 309,360 1,376,200
PeptiDream, Inc. * 89,566 4,462,833
Persol Holdings Co., Ltd. 187,378 3,990,034
Pigeon Corp. 117,429 4,472,198
Pilot Corp. 24,812 928,950
Pola Orbis Holdings, Inc. 107,669 2,979,925
Rakuten, Inc. 883,601 9,236,815
Recruit Holdings Co., Ltd. 1,293,030 41,300,742
Relo Group, Inc. 108,422 2,905,899
Renesas Electronics Corp. * 752,017 3,428,491
Rengo Co., Ltd. 235,756 1,880,402
Resona Holdings, Inc. 2,355,289 9,976,490
Resorttrust, Inc. 89,655 1,388,899
Ricoh Co., Ltd. 746,308 7,244,841
Rinnai Corp. 40,729 2,670,877
Rohm Co., Ltd. 99,343 6,166,906
Rohto Pharmaceutical Co., Ltd. 107,951 2,942,988
Ryohin Keikaku Co., Ltd. 24,423 4,424,595
Sankyo Co., Ltd. 51,857 1,982,100
Sankyu, Inc. 61,778 3,129,440
Sanrio Co., Ltd. 63,199 1,407,462
Santen Pharmaceutical Co., Ltd. 395,593 5,694,790
Sanwa Holdings Corp. 218,253 2,181,022
Sapporo Holdings Ltd. 69,775 1,451,089
Sawai Pharmaceutical Co., Ltd. 40,543 2,087,362
SBI Holdings, Inc. 234,973 5,434,190
SCREEN Holdings Co., Ltd. 51,951 1,789,516
SCSK Corp. 49,287 2,383,207
Secom Co., Ltd. 210,554 18,013,687
Sega Sammy Holdings, Inc. 208,973 2,478,998
Seibu Holdings, Inc. 220,879 3,698,439
Seiko Epson Corp. 310,195 4,571,144
Seino Holdings Co., Ltd. 166,599 2,120,560
Sekisui Chemical Co., Ltd. 383,799 5,645,195
Sekisui House Ltd. 623,078 9,993,924
Seven & i Holdings Co., Ltd. 835,950 28,225,583
Seven Bank Ltd. 712,749 1,824,953
SG Holdings Co., Ltd. 225,734 6,114,517
Sharp Corp. 197,019 1,792,814
Shikoku Electric Power Co., Inc. 166,481 1,516,461
Shima Seiki Manufacturing Ltd. 40,590 1,118,538
Shimachu Co., Ltd. 45,624 1,031,609
Shimadzu Corp. 300,938 7,541,813
Shimamura Co., Ltd. 24,382 1,863,878
Shimano, Inc. 85,334 13,078,128
Shimizu Corp. 615,031 5,013,147
Shin-Etsu Chemical Co., Ltd. 441,960 36,826,269
Shinsei Bank Ltd. 161,465 2,294,640
Shionogi & Co., Ltd. 304,769 16,673,524
Shiseido Co., Ltd. 415,989 30,010,977
SHO-BOND Holdings Co., Ltd. 28,650 1,986,963
Shochiku Co., Ltd. 13,794 1,614,752
Showa Denko K.K. 156,529 4,306,260
Skylark Holdings Co., Ltd. 204,135 3,606,087
SMC Corp. 62,046 20,441,035
Softbank Corp. 1,746,096 22,675,527
 
7

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
SoftBank Group Corp. 923,278 87,161,865
Sohgo Security Services Co., Ltd. 74,238 3,589,680
Sojitz Corp. 1,322,611 4,251,358
Sompo Holdings, Inc. 371,452 14,067,793
Sony Corp. 1,369,116 66,290,056
Sony Financial Holdings, Inc. 190,277 4,220,005
Sotetsu Holdings, Inc. 79,736 2,217,847
Square Enix Holdings Co., Ltd. 88,959 3,133,946
Stanley Electric Co., Ltd. 161,342 3,694,186
Subaru Corp. 646,804 15,024,082
Sugi Holdings Co., Ltd. 40,423 1,837,324
SUMCO Corp. 252,338 2,795,879
Sumitomo Bakelite Co., Ltd. 34,548 1,186,867
Sumitomo Chemical Co., Ltd. 1,631,282 7,061,502
Sumitomo Corp. 1,230,008 17,768,985
Sumitomo Dainippon Pharma Co., Ltd. 212,990 4,372,597
Sumitomo Electric Industries Ltd. 819,131 9,894,454
Sumitomo Forestry Co., Ltd. 147,461 1,674,597
Sumitomo Heavy Industries Ltd. 119,417 3,789,008
Sumitomo Metal Mining Co., Ltd. 254,576 6,710,537
Sumitomo Mitsui Financial Group, Inc. 1,422,302 49,556,237
Sumitomo Mitsui Trust Holdings, Inc. 401,262 14,727,415
Sumitomo Osaka Cement Co., Ltd. 36,672 1,425,336
Sumitomo Realty & Development Co., Ltd. 435,120 16,058,262
Sumitomo Rubber Industries Ltd. 205,378 2,277,459
Sundrug Co., Ltd. 70,248 1,761,133
Suntory Beverage & Food Ltd. 133,315 5,543,792
Suzuken Co., Ltd. 81,926 5,047,985
Suzuki Motor Corp. 466,885 22,179,994
Sysmex Corp. 205,818 14,272,196
T&D Holdings, Inc. 609,086 6,369,948
Tadano Ltd. 138,615 1,343,062
Taiheiyo Cement Corp. 129,888 3,840,115
Taisei Corp. 218,350 7,973,822
Taisho Pharmaceutical Holdings Co., Ltd. 45,682 3,740,391
Taiyo Nippon Sanso Corp. 150,624 2,824,503
Taiyo Yuden Co., Ltd. 133,608 2,456,197
Takara Bio, Inc. 47,933 1,025,985
Takara Holdings, Inc. 188,742 2,042,568
Takashimaya Co., Ltd. 173,810 1,842,554
Takeda Pharmaceutical Co., Ltd. 1,639,069 55,387,927
TDK Corp. 130,146 8,870,186
TechnoPro Holdings, Inc. 35,638 1,831,545
Teijin Ltd. 189,389 3,092,670
Terumo Corp. 684,912 19,479,698
The 77 Bank Ltd. 86,114 1,292,801
The Awa Bank Ltd. 48,692 1,192,915
The Bank of Kyoto Ltd. 82,470 3,228,160
The Chiba Bank Ltd. 652,115 3,129,191
The Chugoku Bank Ltd. 214,953 2,023,320
The Chugoku Electric Power Co., Inc. 319,742 4,002,113
The Gunma Bank Ltd. 488,689 1,732,860
The Hachijuni Bank Ltd. 475,772 1,985,031
The Hiroshima Bank Ltd. 368,925 1,892,620
The Iyo Bank Ltd. 294,524 1,516,361
The Japan Steel Works Ltd. 64,534 980,715
The Kansai Electric Power Co., Inc. 805,947 9,393,746
The San-In Godo Bank Ltd. 193,148 1,241,697
The Shiga Bank Ltd. 64,075 1,516,083
The Shizuoka Bank Ltd. 575,526 4,558,622
The Yokohama Rubber Co., Ltd. 110,330 1,843,321
THK Co., Ltd. 131,729 2,701,916
TIS, Inc. 89,726 4,462,541
Tobu Railway Co., Ltd. 218,274 6,352,713
Toda Corp. 292,459 1,613,474
Toho Co., Ltd. 121,089 5,197,096
Toho Gas Co., Ltd. 91,691 3,572,212
Security Number
of Shares 		Value ($)
Tohoku Electric Power Co., Inc. 497,982 5,081,870
Tokai Carbon Co., Ltd. (a) 253,001 2,430,394
Tokai Rika Co., Ltd. 57,480 877,751
Tokai Tokyo Financial Holdings, Inc. 263,224 809,734
Tokio Marine Holdings, Inc. 718,656 35,749,123
Tokuyama Corp. 74,264 1,655,251
Tokyo Century Corp. 51,587 2,090,562
Tokyo Electric Power Co. Holdings, Inc. * 1,675,895 8,612,935
Tokyo Electron Ltd. 170,885 23,277,819
Tokyo Gas Co., Ltd. 463,060 11,504,530
Tokyo Tatemono Co., Ltd. 232,948 2,430,855
Tokyu Corp. 535,755 9,503,699
Tokyu Fudosan Holdings Corp. 641,297 3,579,332
Topcon Corp. 120,670 1,543,731
Toppan Printing Co., Ltd. 280,606 4,098,928
Toray Industries, Inc. 1,627,006 11,192,363
Toshiba Corp. 585,764 18,612,810
Tosoh Corp. 318,432 4,041,440
TOTO Ltd. 165,504 6,165,910
Toyo Seikan Group Holdings Ltd. 166,328 3,149,623
Toyo Suisan Kaisha Ltd. 94,044 3,672,545
Toyo Tire Corp. 105,752 1,319,769
Toyobo Co., Ltd. 109,647 1,185,591
Toyoda Gosei Co., Ltd. 80,922 1,415,343
Toyota Boshoku Corp. 68,828 844,383
Toyota Industries Corp. 170,021 8,753,556
Toyota Motor Corp. 2,703,728 158,973,977
Toyota Tsusho Corp. 244,238 7,052,140
Trend Micro, Inc. 126,510 5,680,279
TS Tech Co., Ltd. 56,807 1,390,156
Tsumura & Co. 66,229 1,845,201
Tsuruha Holdings, Inc. 38,224 3,066,369
Ube Industries Ltd. 110,175 2,111,666
Ulvac, Inc. 52,851 1,516,287
Unicharm Corp. 419,030 12,577,654
Ushio, Inc. 124,896 1,569,037
USS Co., Ltd. 246,348 4,680,782
Wacoal Holdings Corp. 73,882 1,838,629
Welcia Holdings Co., Ltd. 57,146 2,005,307
West Japan Railway Co. 197,540 15,464,794
Yahoo Japan Corp. 2,571,768 7,413,893
Yakult Honsha Co., Ltd. 131,934 7,509,575
Yamada Denki Co., Ltd. 829,363 3,880,418
Yamaguchi Financial Group, Inc. 247,132 1,832,293
Yamaha Corp. 176,609 7,945,982
Yamaha Motor Co., Ltd. 305,600 5,243,682
Yamato Holdings Co., Ltd. 384,922 7,803,024
Yamato Kogyo Co., Ltd. 25,112 690,855
Yamazaki Baking Co., Ltd. 141,259 2,121,975
Yaoko Co., Ltd. 23,731 1,136,553
Yaskawa Electric Corp. 281,740 8,173,898
Yokogawa Electric Corp. 250,364 4,872,384
Zenkoku Hosho Co., Ltd. 56,772 2,175,192
Zensho Holdings Co., Ltd. 97,841 2,032,065
Zeon Corp. 174,323 1,647,298
ZOZO, Inc. 186,737 3,212,754
    3,789,420,340
 
Netherlands 3.0%
Aalberts N.V. 100,340 3,299,628
ABN AMRO Group N.V. 447,776 9,450,667
Adyen N.V. * 10,112 8,122,197
Aegon N.V. 1,876,525 8,565,170
Akzo Nobel N.V. 245,565 20,665,700
ArcelorMittal 671,581 9,923,471
ASML Holding N.V. 430,046 81,132,255
ASR Nederland N.V. 143,169 5,417,992
Boskalis Westminster 85,855 1,931,628
 
8

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Galapagos N.V. * 49,159 5,598,551
GrandVision N.V. 61,633 1,314,549
Heineken Holding N.V. 115,775 11,430,631
Heineken N.V. 255,187 26,736,249
ING Groep N.V. 4,176,066 45,116,650
Koninklijke Ahold Delhaize N.V. 1,172,162 26,300,315
Koninklijke DSM N.V. 186,707 20,972,143
Koninklijke KPN N.V. 3,538,531 10,796,379
Koninklijke Philips N.V. 984,846 38,905,074
Koninklijke Vopak N.V. 73,530 3,007,131
NN Group N.V. 380,255 14,415,540
OCI N.V. * 111,175 2,514,924
Randstad N.V. 115,721 5,957,662
Signify N.V. 122,607 3,273,586
Unibail-Rodamco-Westfield 145,460 21,939,338
Unilever N.V. CVA 1,638,542 98,599,115
VEON Ltd. (a) 909,381 2,117,941
Wolters Kluwer N.V. 282,668 19,699,545
    507,204,031
 
New Zealand 0.3%
a2 Milk Co., Ltd. * 789,779 8,134,117
Air New Zealand Ltd. 506,042 857,645
Auckland International Airport Ltd. 1,000,319 5,715,289
Contact Energy Ltd. 782,227 3,757,924
Fisher & Paykel Healthcare Corp., Ltd. 630,608 6,330,353
Fletcher Building Ltd. 976,717 3,342,534
Kiwi Property Group Ltd. 1,575,455 1,617,463
Mercury NZ Ltd. 743,112 1,864,931
Meridian Energy Ltd. 1,266,295 3,499,842
Ryman Healthcare Ltd. 449,713 3,394,625
SKYCITY Entertainment Group Ltd. 731,435 1,807,019
Spark New Zealand Ltd. 1,938,668 4,821,095
    45,142,837
 
Norway 0.6%
Adevinta A.S.A., Class A * 72,711 810,360
Adevinta A.S.A., Class B * 180,641 2,003,947
Aker A.S.A., A Shares 27,705 1,590,377
Aker BP A.S.A. 120,755 3,261,057
DNB A.S.A. 1,148,785 19,475,047
Equinor A.S.A. (a) 1,066,611 20,433,604
Gjensidige Forsikring A.S.A. 176,875 3,444,049
Leroy Seafood Group A.S.A. 263,156 1,803,725
Mowi A.S.A. * 453,196 10,509,643
Norsk Hydro A.S.A. 1,431,503 5,007,297
Orkla A.S.A. 798,271 6,908,698
Salmar A.S.A. (a) 54,071 2,470,758
Schibsted A.S.A., B Shares 124,656 3,147,106
Schibsted A.S.A., Class A 72,711 1,918,748
Subsea 7 S.A. 279,211 3,104,772
Telenor A.S.A. 732,412 15,060,307
Yara International A.S.A. 187,397 8,047,126
    108,996,621
 
Poland 0.3%
Bank Polska Kasa Opieki S.A. 170,170 4,706,580
CD Projekt S.A. 68,921 3,728,126
Cyfrowy Polsat S.A. * 276,952 1,881,649
Dino Polska S.A. * 55,330 1,791,738
Grupa Lotos S.A. 105,625 2,414,647
KGHM Polska Miedz S.A. * 150,157 3,713,323
LPP S.A. 799 1,525,599
mBank S.A. * 13,478 1,412,514
PGE Polska Grupa Energetyczna S.A. * 949,360 2,281,005
Polski Koncern Naftowy Orlen S.A. 333,786 8,409,056
Security Number
of Shares 		Value ($)
Polskie Gornictwo Naftowe i Gazownictwo S.A. 1,840,425 2,682,870
Powszechna Kasa Oszczednosci Bank Polski S.A. 886,681 9,070,964
Powszechny Zaklad Ubezpieczen S.A. 594,010 6,406,225
Santander Bank Polska S.A. 30,895 2,937,058
    52,961,354
 
Portugal 0.1%
Banco Espirito Santo S.A. *(b) 505,213 —
EDP - Energias de Portugal S.A. 2,428,396 8,819,126
EDP Renovaveis S.A. 172,611 1,711,907
Galp Energia, SGPS, S.A. 541,650 8,136,363
Jeronimo Martins, SGPS, S.A. 265,517 4,031,350
    22,698,746
 
Republic of Korea 3.7%
Amorepacific Corp. 32,271 4,850,541
AMOREPACIFIC Group 31,307 1,703,496
BGF retail Co., Ltd. 6,742 1,055,826
BNK Financial Group, Inc. 420,176 2,434,473
Celltrion Healthcare Co., Ltd. * 55,695 2,661,051
Celltrion, Inc. * 85,472 13,636,477
Cheil Worldwide, Inc. 82,622 1,831,573
CJ CheilJedang Corp. 8,883 2,092,268
CJ Corp. 15,110 1,287,820
CJ ENM Co., Ltd. 10,279 1,653,755
CJ Logistics Corp. * 9,480 1,269,678
Daelim Industrial Co., Ltd. 29,302 2,546,609
Daewoo Engineering & Construction Co., Ltd. * 193,407 780,352
Daewoo Shipbuilding & Marine Engineering Co., Ltd. * 51,281 1,283,209
DB Insurance Co., Ltd. 51,908 2,680,613
DGB Financial Group, Inc. 184,396 1,251,087
Doosan Infracore Co., Ltd. * 155,691 856,307
E-MART, Inc. 24,584 2,972,622
Fila Korea Ltd. 55,428 3,630,350
GS Engineering & Construction Corp. 71,620 2,414,597
GS Holdings Corp. 55,373 2,329,488
GS Retail Co., Ltd. 27,376 781,580
Hana Financial Group, Inc. 309,491 9,433,641
Hankook Tire & Technology Co., Ltd. 80,718 2,372,265
Hanmi Pharm Co., Ltd. 8,893 3,050,458
Hanmi Science Co., Ltd. 17,213 995,865
Hanon Systems 186,785 1,819,385
Hanssem Co., Ltd. 11,188 763,779
Hanwha Aerospace Co., Ltd. * 36,156 907,771
Hanwha Chemical Corp. 98,710 1,711,614
Hanwha Corp. 69,376 1,488,418
Hanwha Life Insurance Co., Ltd. 344,471 928,501
HDC Hyundai Development Co-Engineering & Construction 36,600 1,316,912
Helixmith Co., Ltd. * 14,564 2,382,288
HLB, Inc. * 37,227 2,194,421
Hotel Shilla Co., Ltd. 29,828 2,369,409
Hyundai Department Store Co., Ltd. 15,600 1,108,204
Hyundai Engineering & Construction Co., Ltd. 76,069 3,283,186
Hyundai Glovis Co., Ltd. 21,742 2,966,727
Hyundai Heavy Industries Co., Ltd. * 45,079 4,447,714
Hyundai Heavy Industries Holdings Co., Ltd. 11,673 3,097,378
Hyundai Marine & Fire Insurance Co., Ltd. 81,628 2,107,701
Hyundai Mipo Dockyard Co., Ltd. 30,237 1,219,991
 
9

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Hyundai Mobis Co., Ltd. 70,331 12,815,372
Hyundai Motor Co. 152,665 17,241,954
Hyundai Steel Co. 79,924 2,738,181
Industrial Bank of Korea 321,925 3,743,943
Kakao Corp. 53,253 5,567,217
Kangwon Land, Inc. 125,382 3,269,050
KB Financial Group, Inc. 425,848 15,662,224
KCC Corp. 6,731 1,458,223
KEPCO Plant Service & Engineering Co., Ltd. 24,000 635,822
Kia Motors Corp. 271,259 8,963,004
Korea Aerospace Industries Ltd. 67,992 1,892,631
Korea Electric Power Corp. * 274,050 5,983,122
Korea Gas Corp. 31,935 1,107,495
Korea Investment Holdings Co., Ltd. 41,200 2,504,728
Korea Zinc Co., Ltd. 12,119 4,447,059
Korean Air Lines Co., Ltd. 49,076 1,300,149
KT&G Corp. 122,311 10,373,172
Kumho Petrochemical Co., Ltd. 19,792 1,592,135
LG Chem Ltd. 48,782 13,640,445
LG Corp. 100,136 6,163,380
LG Display Co., Ltd. * 247,412 3,552,561
LG Electronics, Inc. 120,693 7,965,799
LG Household & Health Care Ltd. 9,642 10,347,196
LG Uplus Corp. 188,848 2,212,133
Lotte Chemical Corp. 15,131 3,278,023
Lotte Corp. 40,982 1,452,213
Lotte Shopping Co., Ltd. 11,749 1,578,504
LS Corp. 20,922 806,382
Mando Corp. 39,605 947,806
Medy-Tox, Inc. 4,415 1,661,603
Mirae Asset Daewoo Co., Ltd. 466,537 2,922,467
NAVER Corp. 145,561 13,628,392
NCSoft Corp. 18,439 7,385,509
Netmarble Corp. * 18,327 1,762,064
NH Investment & Securities Co., Ltd. 132,293 1,499,669
OCI Co., Ltd. 19,652 1,490,113
Orion Corp. 27,877 2,013,118
Ottogi Corp. 1,755 1,047,783
POSCO 74,939 14,945,010
POSCO Chemical Co., Ltd. 22,831 1,042,914
S-1 Corp. 20,961 1,689,694
S-Oil Corp. 44,178 3,097,542
Samsung Biologics Co., Ltd. * 14,005 3,528,004
Samsung C&T Corp. 94,134 7,295,800
Samsung Card Co., Ltd. 32,702 1,010,524
Samsung Electro-Mechanics Co., Ltd. 59,031 4,718,911
Samsung Electronics Co., Ltd. 70,000 2,498,111
Samsung Electronics Co., Ltd. GDR 202,908 181,907,022
Samsung Engineering Co., Ltd. * 198,780 2,787,493
Samsung Fire & Marine Insurance Co., Ltd. 36,874 8,391,010
Samsung Heavy Industries Co., Ltd. * 505,111 3,329,517
Samsung Life Insurance Co., Ltd. 73,873 5,012,124
Samsung SDI Co., Ltd. 58,259 10,689,052
Samsung SDS Co., Ltd. 36,472 6,339,494
Samsung Securities Co., Ltd. 67,984 2,017,998
Shinhan Financial Group Co., Ltd. 491,693 18,352,300
Shinsegae, Inc. 8,112 2,029,873
SillaJen, Inc. * 56,133 2,592,422
SK Holdings Co., Ltd. 37,540 7,297,431
SK Hynix, Inc. 562,768 30,857,965
SK Innovation Co., Ltd. 61,130 8,469,603
SK Telecom Co., Ltd. 26,267 5,525,135
Woongjin Coway Co., Ltd. 65,453 4,402,372
Woori Financial Group, Inc. 628,713 7,338,241
Yuhan Corp. 9,235 1,919,273
    641,704,876
 
Security Number
of Shares 		Value ($)
Singapore 1.2%
Ascendas Real Estate Investment Trust 2,752,445 5,839,459
CapitaLand Commercial Trust 2,802,026 3,929,168
CapitaLand Ltd. 2,687,603 6,287,704
CapitaLand Mall Trust 2,932,736 5,135,244
City Developments Ltd. 542,691 3,241,123
ComfortDelGro Corp., Ltd. 2,151,975 3,846,303
DBS Group Holdings Ltd. 1,934,436 34,139,173
Genting Singapore Ltd. 6,515,821 4,118,694
Golden Agri-Resources Ltd. 9,236,907 1,778,458
Hutchison Port Holdings Trust 5,990,858 1,347,943
Jardine Cycle & Carriage Ltd. 103,066 2,528,818
Keppel Corp., Ltd. 1,522,822 6,671,716
Keppel REIT 1,849,784 1,612,773
Mapletree Commercial Trust 2,208,978 3,065,462
Mapletree Industrial Trust 1,526,724 2,340,529
Mapletree Logistics Trust 2,765,700 2,933,790
Mapletree North Asia Commercial Trust 1,998,712 1,916,881
Olam International Ltd. 677,860 876,660
Oversea-Chinese Banking Corp., Ltd. 3,557,582 27,321,279
SATS Ltd. 728,261 2,682,663
Sembcorp Industries Ltd. 1,223,929 2,143,110
Sembcorp Marine Ltd. * 916,986 932,743
Singapore Airlines Ltd. 570,156 3,773,837
Singapore Exchange Ltd. 889,885 4,771,571
Singapore Post Ltd. 2,096,621 1,409,071
Singapore Press Holdings Ltd. 1,823,507 3,100,233
Singapore Technologies Engineering Ltd. 1,599,703 4,544,512
Singapore Telecommunications Ltd. 8,004,665 18,610,766
Suntec Real Estate Investment Trust 2,193,629 2,900,719
United Overseas Bank Ltd. 1,367,498 23,348,860
UOL Group Ltd. 511,783 2,513,643
Venture Corp., Ltd. 278,372 3,056,055
Wilmar International Ltd. 2,171,820 5,191,476
    197,910,436
 
Spain 2.6%
Acciona S.A. 23,973 2,560,567
Acerinox S.A. 210,975 1,989,887
ACS, Actividades de Construccion y Servicios S.A. 260,128 10,696,339
Aena SME S.A. 68,252 12,541,738
Amadeus IT Group S.A. 444,916 33,892,356
Banco Bilbao Vizcaya Argentaria S.A. 7,177,455 38,931,229
Banco de Sabadell S.A. 6,105,644 6,757,559
Banco Santander S.A. 17,369,739 76,494,799
Bankia S.A. 1,580,457 3,987,317
Bankinter S.A. 785,993 5,673,895
CaixaBank S.A. 3,807,823 11,702,878
Cellnex Telecom S.A. * 221,671 7,768,751
Corporacion Financiera Alba S.A. 24,910 1,368,492
Enagas S.A. 239,262 6,532,230
Endesa S.A. 366,409 9,109,350
Ferrovial S.A. 519,398 12,380,345
Ferrovial S.A. - Interim Shares *(b) 7,446 177,483
Fomento de Construcciones y Contratas S.A. 78,366 1,011,249
Fomento de Construcciones y Contratas S.A. - Interim Shares *(b) 2,769 35,729
Grifols S.A. 371,171 9,504,860
Iberdrola S.A. 6,621,372 61,345,073
Industria de Diseno Textil S.A. 1,146,697 30,731,619
Inmobiliaria Colonial Socimi S.A. 329,391 3,637,534
Mapfre S.A. 1,024,854 3,001,297
Merlin Properties Socimi S.A. 381,209 5,059,372
Naturgy Energy Group S.A. 341,304 9,709,880
Red Electrica Corp. S.A. 451,469 9,573,889
 
10

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Repsol S.A. 1,456,094 23,462,775
Siemens Gamesa Renewable Energy S.A. 244,082 3,794,300
Telefonica S.A. 4,888,501 39,102,168
Zardoya Otis S.A. 232,081 1,765,078
    444,300,038
 
Sweden 2.2%
Alfa Laval AB 341,070 6,986,466
Assa Abloy AB, B Shares 982,176 19,112,659
Atlas Copco AB, A Shares 675,393 18,160,075
Atlas Copco AB, B Shares 417,695 10,107,506
Boliden AB 288,466 6,556,045
Boliden AB * 288,466 128,590
Castellum AB 298,483 5,653,087
Electrolux AB, Series B 265,738 5,760,281
Elekta AB, B Shares 396,401 5,139,735
Epiroc AB, A Shares 645,933 6,003,786
Epiroc AB, B Shares 440,582 3,981,218
Essity AB, B Shares 659,771 19,306,752
Fastighets AB Balder, B Shares * 103,994 3,367,687
Hennes & Mauritz AB, B Shares 932,298 13,910,217
Hexagon AB, B Shares 266,170 12,341,952
Husqvarna AB, B Shares 461,412 3,845,585
ICA Gruppen AB 92,696 3,684,581
Industrivarden AB, A Shares 238,423 4,905,143
Industrivarden AB, C Shares 154,903 3,120,130
Investment AB Latour, B Shares 127,833 1,704,494
Investor AB, A Shares 135,903 5,868,967
Investor AB, B Shares 502,354 21,657,194
Kinnevik AB, B Shares 270,143 6,869,101
L E Lundbergfortagen AB, B Shares 80,832 2,649,895
Lundin Petroleum AB 192,804 5,242,895
Nibe Industrier AB, B Shares 384,015 4,823,792
Saab AB, Class B 108,163 3,068,551
Sandvik AB 1,146,130 17,648,610
Securitas AB, B Shares 322,662 5,331,253
Skandinaviska Enskilda Banken AB, A Shares 1,552,103 13,741,457
Skanska AB, B Shares 376,058 6,144,351
SKF AB, B Shares 401,660 6,225,029
Svenska Cellulosa AB SCA, B Shares 628,141 4,792,964
Svenska Handelsbanken AB, A Shares 1,622,916 15,947,454
Swedbank AB, A Shares 1,094,106 15,623,188
Swedish Match AB 178,721 8,059,834
Swedish Orphan Biovitrum AB * 190,010 3,376,066
Tele2 AB, B Shares 591,755 8,151,461
Telefonaktiebolaget LM Ericsson, B Shares 3,209,038 30,845,500
Telia Co. AB 2,953,243 12,331,555
Trelleborg AB, B Shares 275,913 3,664,461
Volvo AB, B Shares 1,592,798 22,217,032
    378,056,599
 
Switzerland 7.7%
ABB Ltd. 1,925,368 35,172,876
Adecco Group AG 166,728 8,947,634
Alcon, Inc. * 465,695 26,959,706
Baloise Holding AG 55,085 9,123,787
Banque Cantonale Vaudoise 3,030 2,256,271
Barry Callebaut AG 2,482 4,853,700
Chocoladefabriken Lindt & Sprungli AG 105 7,829,199
Chocoladefabriken Lindt & Sprungli AG, Participation Certificate 1,214 7,917,522
Cie Financiere Richemont S.A. 550,716 40,373,612
Clariant AG * 253,269 4,594,018
Credit Suisse Group AG * 2,749,962 31,139,899
Security Number
of Shares 		Value ($)
DKSH Holding AG 35,660 2,169,699
Dufry AG * 35,141 2,865,502
EMS-Chemie Holding AG 7,654 4,565,691
Flughafen Zuerich AG 20,425 3,431,749
Geberit AG 39,744 17,460,728
Georg Fischer AG 4,635 3,912,228
Givaudan S.A. 9,891 26,068,540
Helvetia Holding AG 35,275 4,320,604
Julius Baer Group Ltd. * 234,535 9,249,892
Kuehne & Nagel International AG 53,145 7,035,101
LafargeHolcim Ltd. * 505,872 24,175,838
Logitech International S.A. 156,791 5,702,058
Lonza Group AG * 79,809 24,469,946
Nestle S.A. 3,257,883 322,436,002
Novartis AG 2,353,788 201,482,474
OC Oerlikon Corp. AG 265,660 2,892,058
Pargesa Holding S.A. 43,832 3,231,240
Partners Group Holding AG 17,726 12,388,903
PSP Swiss Property AG 41,285 4,605,236
Roche Holding AG 748,560 195,800,702
Roche Holding AG, Bearer Shares 31,713 8,298,316
Schindler Holding AG 17,732 3,628,022
Schindler Holding AG, Participation Certificate 46,179 9,696,282
SGS S.A. 5,405 13,621,986
Sika AG 148,886 22,040,190
Sonova Holding AG 54,198 12,021,250
Straumann Holding AG 10,994 9,010,741
Sulzer AG 15,665 1,469,397
Swiss Life Holding AG 35,431 16,052,003
Swiss Prime Site AG * 79,691 6,464,966
Swiss Re AG 330,640 31,228,116
Swisscom AG 26,883 12,818,101
Temenos AG * 63,928 11,084,201
The Swatch Group AG 60,140 2,891,455
The Swatch Group AG, Bearer Shares 29,345 7,343,179
UBS Group AG * 3,716,137 42,671,753
Vifor Pharma AG 48,062 6,613,094
Zurich Insurance Group AG 163,497 52,794,975
    1,327,180,442
 
United Kingdom 14.9%
3i Group plc 1,023,518 13,558,341
Admiral Group plc 220,091 5,720,043
Anglo American plc 1,049,497 25,066,793
Antofagasta plc 381,273 3,761,796
Ashmore Group plc 389,394 2,318,502
Ashtead Group plc 509,777 11,983,051
Associated British Foods plc 374,013 11,634,299
AstraZeneca plc 1,418,894 104,315,845
Auto Trader Group plc 1,030,058 7,781,920
AVEVA Group plc 71,198 3,316,715
Aviva plc 4,203,985 21,438,549
B&M European Value Retail S.A. 855,121 3,801,381
Babcock International Group plc 302,346 1,706,462
BAE Systems plc 3,467,505 19,771,884
Barclays plc 18,635,502 35,077,255
Barratt Developments plc 1,118,630 7,867,360
Bellway plc 143,072 4,942,789
Berkeley Group Holdings plc 131,178 5,780,172
BHP Group plc 2,255,379 50,730,457
BP plc 21,438,128 145,938,335
British American Tobacco plc 2,470,331 85,935,495
BT Group plc 9,094,455 22,210,031
Bunzl plc 356,839 9,512,420
Burberry Group plc 428,808 9,160,959
Capital & Counties Properties plc 734,313 2,013,949
Carnival plc 173,864 8,568,302
 
11

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Centrica plc 6,046,875 7,127,609
Cineworld Group plc 1,096,332 4,094,323
Cobham plc * 2,577,625 3,241,041
Coca-Cola HBC AG * 215,732 7,754,833
Compass Group plc 1,708,004 38,545,311
ConvaTec Group plc 1,591,165 2,798,681
CRH plc 885,103 27,521,450
Croda International plc 128,185 8,191,313
CYBG plc 1,253,534 2,891,316
DCC plc 106,247 8,905,261
Derwent London plc 112,122 4,544,805
Diageo plc 2,563,753 107,458,676
Direct Line Insurance Group plc 1,512,028 6,031,730
DS Smith plc 1,395,015 5,556,154
easyJet plc 238,405 2,617,831
Evraz plc 510,346 3,782,251
Experian plc 1,005,543 30,252,510
Ferguson plc * 250,443 16,174,333
Flutter Entertainment plc 85,901 6,093,414
Fresnillo plc 218,309 2,113,203
G4S plc 1,671,445 4,409,300
GlaxoSmithKline plc 5,269,858 101,425,300
Glencore plc * 12,165,015 39,044,933
GVC Holdings plc 623,152 4,707,812
Halma plc 411,674 9,422,749
Hammerson plc 794,142 2,711,537
Hargreaves Lansdown plc 295,826 8,448,986
Hikma Pharmaceuticals plc 188,380 3,751,459
Hiscox Ltd. 304,787 6,284,751
Howden Joinery Group plc 656,170 4,155,032
HSBC Holdings plc 21,730,813 176,689,755
IMI plc 347,236 3,965,165
Imperial Brands plc 1,034,388 24,966,669
Inchcape plc 474,376 3,503,714
Informa plc 1,317,244 12,893,534
InterContinental Hotels Group plc 193,185 12,430,182
International Consolidated Airlines Group S.A. 901,091 5,123,300
Intertek Group plc 172,245 11,497,488
Investec plc 695,085 4,039,628
ITV plc 3,988,137 5,391,079
J Sainsbury plc 1,782,304 4,495,078
JD Sports Fashion plc 401,068 3,117,961
John Wood Group plc 751,934 3,707,549
Johnson Matthey plc 204,490 7,974,450
Just Eat plc * 629,801 4,778,683
KAZ Minerals plc 242,727 1,559,647
Kingfisher plc 2,343,190 6,317,229
Land Securities Group plc 743,656 7,766,500
Legal & General Group plc 6,350,075 20,537,324
Lloyds Banking Group plc 76,294,425 55,062,066
London Stock Exchange Group plc 332,722 22,159,129
Marks & Spencer Group plc 1,990,210 5,649,053
Mediclinic International plc 418,037 1,591,219
Meggitt plc 858,469 5,308,362
Melrose Industries plc 5,377,100 11,111,377
Merlin Entertainments plc 798,394 3,814,867
Micro Focus International plc 360,693 8,714,107
Mondi plc 398,054 8,227,998
National Grid plc (a) 3,655,755 36,529,950
Next plc 144,029 10,459,997
NMC Health plc 105,309 2,990,440
Ocado Group plc * 492,452 7,414,099
Pearson plc 917,792 9,103,897
Pennon Group plc 458,056 4,234,166
Persimmon plc 338,899 8,402,006
Phoenix Group Holdings plc 575,378 4,866,860
Polymetal International plc 296,782 3,179,544
Prudential plc 2,815,740 55,984,818
Security Number
of Shares 		Value ($)
Quilter plc 2,339,333 3,899,679
Reckitt Benckiser Group plc 677,583 54,213,540
RELX plc 2,028,239 47,101,526
Renishaw plc 36,434 1,795,527
Rentokil Initial plc 2,012,140 9,510,379
Rightmove plc 976,473 7,121,099
Rio Tinto plc 1,197,585 68,475,563
Rolls-Royce Holdings plc * 1,807,754 19,595,039
Royal Bank of Scotland Group plc 4,903,017 13,206,151
Royal Dutch Shell plc, A Shares 4,827,486 149,741,089
Royal Dutch Shell plc, B Shares 4,039,575 125,937,753
Royal Mail plc 974,862 2,521,325
RPC Group plc 510,226 5,075,257
RSA Insurance Group plc 1,114,894 7,765,203
Schroders plc 117,739 4,331,744
Segro plc 1,139,097 10,015,567
Severn Trent plc 248,189 6,225,066
Smith & Nephew plc 943,214 19,782,078
Smiths Group plc 411,132 7,464,537
Smurfit Kappa Group plc 249,795 6,926,515
Spirax-Sarco Engineering plc 80,197 8,450,312
SSE plc 1,109,470 15,081,484
St. James's Place plc 556,175 7,335,995
Standard Chartered plc 2,915,391 25,244,217
Standard Life Aberdeen plc 2,725,181 9,181,268
Tate & Lyle plc 508,670 4,630,224
Taylor Wimpey plc 3,463,927 7,214,705
Tesco plc 10,424,526 29,746,857
The British Land Co. plc 1,008,136 6,785,295
The Sage Group plc 1,169,632 11,012,304
The Weir Group plc 273,366 5,064,892
Travis Perkins plc 279,278 4,336,664
TUI AG 503,872 4,636,085
Unilever plc 1,183,796 72,170,765
United Utilities Group plc 729,539 7,332,180
Vodafone Group plc 28,760,131 46,913,799
Whitbread plc 195,803 11,426,381
Wm Morrison Supermarkets plc 2,323,727 5,765,392
WPP plc 1,305,122 15,482,510
    2,558,045,865
Total Common Stock
(Cost $16,678,009,705)   16,971,518,577

Preferred Stock 0.6% of net assets
 
Germany 0.4%
Bayerische Motoren Werke AG 57,190 3,377,673
FUCHS PETROLUB SE 73,898 2,877,247
Henkel AG & Co. KGaA 194,928 17,764,092
Porsche Automobil Holding SE 165,816 10,306,866
RWE AG 21,049 523,068
Sartorius AG 37,151 7,037,868
Volkswagen AG 198,771 30,899,319
    72,786,133
 
Italy 0.0%
Telecom Italia S.p.A. - RSP 7,735,959 3,607,707
 
Republic of Korea 0.2%
Amorepacific Corp. 13,362 1,117,520
CJ Corp. * 2,266 50,891
Hyundai Motor Co., Ltd. 28,628 1,884,655
Hyundai Motor Co., Ltd. 2nd 40,291 2,899,436
LG Chem Ltd. 9,801 1,596,603
 
12

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
LG Household & Health Care Ltd. 2,305 1,410,987
Samsung Electronics Co., Ltd. 817,235 23,880,912
    32,841,004
 
Spain 0.0%
Grifols S.A., B Shares 254,072 4,496,028
 
United Kingdom 0.0%
Rolls-Royce Holdings plc *(b) 125,624,134 158,337
Total Preferred Stock
(Cost $120,124,532)   113,889,209

Rights 0.0% of net assets
 
United Kingdom 0.0%
Marks & Spencer Group plc
expires 06/12/19 * 		342,081 168,152
Total Rights
(Cost $—)   168,152

Other Investment Companies 0.6% of net assets
 
United States 0.6%
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 2.32% (c) 14,574,089 14,574,089
Security Number
of Shares 		Value ($)
Securities Lending Collateral 0.5%
Wells Fargo Government Money Market Fund, Select Class 2.30% (c) 86,999,347 86,999,347
Total Other Investment Companies
(Cost $101,573,436)   101,573,436
    
  Number of
Contracts 		Notional
Amount
($) 		Current Value/
Unrealized
Depreciation
($)
Futures Contracts  
Long  
MSCI EAFE Index, expires 06/21/19 969 88,077,255 (1,852,500)
* Non-income producing security.
(a) All or a portion of this security is on loan. Securities on loan were valued at $82,329,077.
(b) Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees.
(c) The rate shown is the 7-day yield.
   
CVA – Dutch Certificate
GDR – Global Depositary Receipt
REIT – Real Estate Investment Trust
RSP – Risparmio (Convertible Savings Shares)
 
The following is a summary of the inputs used to value the fund’s investments as of May 31, 2019:
Description Quoted Prices in
Active Markets for
Identical Assets
(Level 1) 		Other Significant
Observable Inputs
(Level 2) 		Significant
Unobservable Inputs
(Level 3) 		Total  
Assets          
Common Stock1 $14,785,272,831 $— $— $14,785,272,831  
Australia 1,102,176,845 — 2,892,078 1,105,068,923  
Hong Kong 614,178,039 — —* 614,178,039  
Portugal 22,698,746 — —* 22,698,746  
Spain 444,086,826 — 213,212 444,300,038  
Preferred Stock1 80,889,868 — — 80,889,868  
Republic of Korea 32,790,113 — 50,891 32,841,004  
United Kingdom — — 158,337 158,337  
Rights1 168,152 — — 168,152  
Other Investment Companies1 101,573,436 — — 101,573,436  
Liabilities          
Futures Contracts2 (1,852,500) — — (1,852,500)  
Total $17,181,982,356 $— $3,314,518 $17,185,296,874  
* Level 3 amount shown includes securities determined to have no value at May 31, 2019.
1 As categorized in Portfolio Holdings.
2 Futures contracts are valued at unrealized appreciation or depreciation.
13

 

Schwab International Equity ETF
Portfolio Holdings (Unaudited) continued
Fund investments in underlying mutual funds are classified as Level 1, without consideration to the classification level of the investments held by the underlying mutual funds, which could be Level 1, Level 2 or Level 3.
14

 

Schwab Strategic Trust
Schwab International Small-Cap Equity ETF™
Portfolio Holdings as of May 31, 2019 (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.    
 
Security Number
of Shares 		Value ($)
Common Stock 98.7% of net assets
 
Australia 6.4%
A2B Australia Ltd. 134,659 166,071
Abacus Property Group 416,328 1,104,774
Accent Group Ltd. 403,471 415,124
Afterpay Touch Group Ltd. *(a) 214,937 3,596,396
Altium Ltd. 134,949 2,891,937
Appen Ltd. 122,358 2,206,712
ARB Corp., Ltd. 82,392 1,063,499
Ardent Leisure Group Ltd. 616,765 514,927
Arena REIT 355,669 677,669
Asaleo Care Ltd. * 504,669 305,952
Aurelia Metals Ltd. * 955,033 410,251
Ausdrill Ltd. 833,812 846,340
Australian Agricultural Co., Ltd. * 558,411 429,454
Australian Pharmaceutical Industries Ltd. 476,031 428,764
Automotive Holdings Group Ltd. 290,248 589,218
Aventus Group 467,672 748,501
Aveo Group 551,189 817,247
Bapcor Ltd. 346,410 1,430,460
Beach Energy Ltd. 2,169,057 2,727,638
Bega Cheese Ltd. (a) 256,368 838,388
Bellamy's Australia Ltd. *(a) 87,659 519,888
Bingo Industries Ltd. 477,635 610,565
Blackmores Ltd. (a) 16,116 1,056,077
Breville Group Ltd. 159,032 1,859,928
Brickworks Ltd. 81,372 919,535
BWP Trust 593,891 1,481,318
BWX Ltd. (a) 158,638 181,905
Cardno Ltd. * 477,174 300,855
carsales.com Ltd. 272,056 2,559,748
Cedar Woods Properties Ltd. 73,464 300,307
Centuria Industrial REIT 277,492 588,317
Charter Hall Education Trust 294,800 741,435
Charter Hall Group 570,239 4,085,231
Charter Hall Long Wale REIT 346,151 1,177,569
Charter Hall Retail REIT 407,320 1,247,375
Cleanaway Waste Management Ltd. 1,684,161 2,602,122
Clinuvel Pharmaceuticals Ltd. (a) 46,119 1,102,078
Collins Foods Ltd. 130,041 716,286
Cooper Energy Ltd. * 1,688,646 625,938
Corporate Travel Management Ltd. 102,195 1,613,664
Costa Group Holdings Ltd. 370,726 1,014,587
Credit Corp. Group Ltd. 46,420 800,836
Cromwell Property Group 2,039,917 1,632,427
Dacian Gold Ltd. * 269,733 296,212
Eclipx Group Ltd. 360,814 279,989
Elders Ltd. 140,124 550,471
Emeco Holdings Ltd. * 380,516 475,871
ERM Power Ltd. 174,906 232,673
Estia Health Ltd. 302,156 565,242
FlexiGroup Ltd. 387,959 486,523
Freedom Foods Group Ltd. 119,505 435,523
G.U.D. Holdings Ltd. 104,961 759,220
G8 Education Ltd. 575,680 1,184,614
Security Number
of Shares 		Value ($)
Galaxy Resources Ltd. *(a) 506,442 550,895
GDI Property Group 530,133 486,676
Genworth Mortgage Insurance Australia Ltd. 255,225 477,448
Gold Road Resources Ltd. * 989,094 681,867
GrainCorp Ltd., Class A 283,741 1,517,674
Growthpoint Properties Australia Ltd. 315,410 917,834
GWA Group Ltd. 309,467 750,450
Healius Ltd. 709,005 1,552,300
Hotel Property Investments 178,415 428,943
HT&E Ltd. 319,696 410,885
HUB24 Ltd. (a) 53,962 510,714
IDP Education Ltd. 155,129 1,836,852
IMF Bentham Ltd. * 232,426 431,577
Independence Group NL 598,645 1,849,879
Infigen Energy * 809,691 272,082
Ingenia Communities Group 301,312 665,957
Inghams Group Ltd. 240,978 701,239
InvoCare Ltd. (a) 134,119 1,452,407
IPH Ltd. 175,823 832,023
IRESS Ltd. 206,930 1,951,285
Japara Healthcare Ltd. 307,505 294,016
JB Hi-Fi Ltd. (a) 139,617 2,720,150
Kidman Resources Ltd. * 465,154 605,890
Link Administration Holdings Ltd. 652,664 2,699,623
Liquefied Natural Gas Ltd. *(a) 850,918 179,815
Lovisa Holdings Ltd. (a) 67,064 529,704
Lynas Corp., Ltd. * 826,563 1,746,687
MACA Ltd. 346,128 237,417
Mayne Pharma Group Ltd. * 1,943,611 747,380
McMillan Shakespeare Ltd. 68,046 609,594
Mesoblast Ltd. *(a) 543,733 523,648
Mineral Resources Ltd. 168,076 1,749,101
Monadelphous Group Ltd. 106,955 1,413,159
Mount Gibson Iron Ltd. 852,861 720,904
Myer Holdings Ltd. * 1,105,017 512,959
Nanosonics Ltd. * 318,071 991,690
Navigator Global Investments Ltd. 156,444 410,807
Navitas Ltd. 361,687 1,448,438
nearmap Ltd. * 440,347 1,034,270
Netwealth Group Ltd. 108,146 711,825
New Century Resources Ltd. * 554,184 266,857
New Hope Corp., Ltd. 276,063 503,041
New South Resources Ltd. * 784,451 907,656
NEXTDC Ltd. * 414,997 1,889,076
nib Holdings Ltd. 571,478 2,712,247
Nine Entertainment Co. Holdings Ltd. 1,803,412 2,598,947
NRW Holdings Ltd. 466,787 886,153
OFX Group Ltd. 294,437 317,221
oOh!media Ltd. 251,859 738,137
Orocobre Ltd. *(a) 280,679 620,354
Pact Group Holdings Ltd. 248,869 391,414
Pendal Group Ltd. 330,565 1,662,772
Perseus Mining Ltd. * 1,200,214 378,364
Pilbara Minerals Ltd. *(a) 2,022,339 1,008,848
Premier Investments Ltd. 97,305 1,163,631
Pro Medicus Ltd. 50,738 798,695
 
15

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Quintis Ltd. *(a)(b) 227,692 —
Regis Healthcare Ltd. 169,721 356,301
Regis Resources Ltd. 615,135 1,896,573
Reliance Worldwide Corp., Ltd. 964,013 2,451,253
Resolute Mining Ltd. 728,535 565,337
Rural Funds Group 385,464 595,563
Sandfire Resources NL 188,038 801,235
Saracen Mineral Holdings Ltd. * 961,327 2,131,377
SeaLink Travel Group Ltd. 111,440 274,872
Select Harvests Ltd. 119,746 585,740
Senex Energy Ltd. * 1,689,449 362,866
Service Stream Ltd. 400,181 687,618
Seven West Media Ltd. * 1,090,702 385,403
SG Fleet Group Ltd. 136,160 301,883
Sigma Healthcare Ltd. 1,269,418 461,746
SmartGroup Corp., Ltd. 107,631 652,506
Southern Cross Media Group Ltd. 918,258 792,088
SpeedCast International Ltd. 273,319 713,921
St. Barbara Ltd. 855,763 1,517,863
Starpharma Holdings Ltd. * 436,476 394,648
Steadfast Group Ltd. 952,111 2,077,961
Super Retail Group Ltd. 171,210 1,097,261
Superloop Ltd. * 227,172 277,804
Syrah Resources Ltd. *(a) 419,161 384,801
Tassal Group Ltd. 214,344 715,810
Technology One Ltd. 182,638 904,766
Village Roadshow Ltd. * 124,811 294,016
Virgin Australia International Holdings Pty Ltd. *(b) 424,000 —
Virtus Health Ltd. 75,021 205,314
Viva Energy Group Ltd. 1,341,683 1,989,312
Viva Energy REIT 505,740 907,541
Webjet Ltd. 163,951 1,686,863
Western Areas Ltd. 305,673 461,692
Westgold Resources Ltd. * 368,613 443,108
    137,598,170
 
Austria 1.0%
Agrana Beteiligungs AG 13,608 289,027
BAWAG Group AG * 55,000 2,326,540
CA Immobilien Anlagen AG 85,436 3,165,587
DO & Co. AG 8,434 711,461
EVN AG 35,460 511,322
Flughafen Wien AG 12,055 499,054
IMMOFINANZ AG * 120,980 3,069,717
Kapsch TrafficCom AG 5,446 217,868
Lenzing AG 16,108 1,749,223
Oesterreichische Post AG 39,904 1,334,011
Palfinger AG 16,257 470,110
Porr AG (a) 11,167 261,323
S IMMO AG 56,961 1,298,054
Schoeller-Bleckmann Oilfield Equipment AG 13,877 1,093,293
Strabag SE 19,090 627,552
UNIQA Insurance Group AG 135,120 1,202,310
Wienerberger AG 142,035 3,057,906
Zumtobel Group AG * 38,788 257,179
    22,141,537
 
Belgium 2.0%
Aedifica S.A. 30,577 2,807,655
AGFA-Gevaert N.V. * 210,590 852,794
Argenx SE *(a) 46,698 5,765,802
Barco N.V. 12,036 2,339,108
Befimmo S.A. 23,670 1,324,109
Bekaert S.A. 42,972 1,051,573
bpost S.A. 122,062 1,196,702
Security Number
of Shares 		Value ($)
Cie d'Entreprises CFE 8,437 768,125
Cofinimmo S.A. 28,563 3,596,698
D'Ieteren S.A. N.V. 27,744 1,198,016
Econocom Group S.A. N.V. (a) 163,584 579,317
Elia System Operator S.A. N.V. 38,963 2,704,968
Euronav N.V. 207,230 1,751,580
EVS Broadcast Equipment S.A. 16,471 407,469
Fagron 47,284 901,015
Gimv N.V. 22,474 1,344,858
Ion Beam Applications * 26,728 431,575
KBC Ancora 43,103 2,061,526
Kinepolis Group N.V. 16,145 888,764
Melexis N.V. 23,933 1,673,526
Mithra Pharmaceuticals S.A. *(a) 17,149 468,195
Montea C.V.A. 14,607 1,268,003
Ontex Group N.V. 101,536 1,725,487
Orange Belgium S.A. 34,920 663,079
Retail Estates N.V. 10,499 921,925
Tessenderlo Group S.A. * 32,391 1,050,362
Van de Velde N.V. 6,723 187,669
Warehouses De Pauw SCA 21,583 3,347,902
Wereldhave Belgium N.V. 2,672 246,541
    43,524,343
 
Canada 18.1%
Aecon Group, Inc. 77,612 1,004,093
Air Canada * 167,466 4,942,594
Alacer Gold Corp. * 354,600 1,067,551
Alamos Gold, Inc., Class A 480,542 2,346,015
Algonquin Power & Utilities Corp. 591,299 6,897,541
Allied Properties Real Estate Investment Trust 130,067 4,676,793
AltaGas Ltd. 335,376 4,839,992
Aphria, Inc. *(a) 256,587 1,694,890
ARC Resources Ltd. 431,975 2,351,754
Artis Real Estate Investment Trust 175,374 1,528,150
Atco Ltd., Class I 92,863 3,193,432
ATS Automation Tooling Systems, Inc. * 94,967 1,430,230
Aurora Cannabis, Inc. *(a) 994,770 7,556,985
B2Gold Corp. * 1,204,185 3,286,813
Baytex Energy Corp. * 654,806 1,012,312
Birchcliff Energy Ltd. 320,396 739,430
BlackBerry Ltd. * 613,563 4,815,374
Boardwalk Real Estate Investment Trust (a) 46,469 1,398,298
Bombardier, Inc., B Shares * 2,599,388 3,903,216
Boyd Group Income Fund 24,425 2,980,540
BRP, Inc. 54,907 1,642,458
CAE, Inc. 334,209 8,521,477
Cameco Corp. 487,215 4,915,758
Canada Goose Holdings, Inc. * 70,381 2,370,328
Canadian Apartment Properties REIT 177,520 6,431,637
Canadian Western Bank 107,714 2,257,221
Canfor Corp. * 80,556 524,368
Canopy Growth Corp. * 221,466 8,924,823
Capital Power Corp. 124,790 2,797,829
Cascades, Inc. 81,397 531,046
CCL Industries, Inc., Class B 179,836 8,190,327
Celestica, Inc. * 142,475 895,804
Centerra Gold, Inc. * 267,533 1,531,700
CES Energy Solutions Corp. 307,564 498,236
Chartwell Retirement Residences 256,768 2,754,003
China Gold International Resources Corp., Ltd. * 282,420 317,537
Choice Properties Real Estate Investment Trust 291,201 2,903,609
CI Financial Corp. 285,893 4,290,827
Cineplex, Inc. 78,939 1,363,433
Cogeco Communications, Inc. 13,609 933,171
 
16

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Colliers International Group, Inc. 41,957 2,584,022
Cominar Real Estate Investment Trust 219,819 1,995,103
Corus Entertainment, Inc., B Shares 243,575 1,162,112
Cott Corp. 167,005 2,172,955
Crescent Point Energy Corp. 688,438 2,301,753
Cronos Group, Inc. *(a) 223,098 3,151,987
Detour Gold Corp. * 214,969 2,027,409
Dream Global Real Estate Investment Trust 221,275 2,212,914
Dream Office Real Estate Investment Trust 60,622 1,056,031
ECN Capital Corp. 268,412 839,842
Eldorado Gold Corp. * 193,547 720,128
Element Fleet Management Corp. 539,434 3,902,407
Emera, Inc. 73,426 2,826,458
Empire Co., Ltd., A Shares 211,950 4,885,244
Endeavour Mining Corp. * 90,763 1,354,832
Enerflex Ltd. 108,530 1,314,177
Enerplus Corp. 292,617 2,134,184
Enghouse Systems Ltd. 47,268 1,177,242
Ensign Energy Services, Inc. 157,774 595,197
Finning International, Inc. 207,808 3,335,627
First Capital Realty, Inc. 190,639 2,931,714
First Majestic Silver Corp. *(a) 197,638 1,200,243
First National Financial Corp. 19,669 443,749
First Quantum Minerals Ltd. 846,802 6,163,571
FirstService Corp. 37,935 3,437,132
Genworth MI Canada, Inc. 44,858 1,365,417
Gibson Energy, Inc. 175,147 2,858,009
Gildan Activewear, Inc. 253,052 9,128,890
Gran Tierra Energy, Inc. * 481,517 936,748
Granite Real Estate Investment Trust 56,411 2,520,740
Great Canadian Gaming Corp. * 67,370 2,112,445
H&R Real Estate Investment Trust 351,785 5,932,908
Home Capital Group, Inc. *(a) 82,491 1,097,114
Hudbay Minerals, Inc. 292,998 1,439,091
Hudson's Bay Co. (a) 124,448 592,829
IA Financial Corp., Inc. * 134,818 5,058,043
IAMGOLD Corp. * 571,098 1,423,626
Innergex Renewable Energy, Inc. 148,380 1,549,764
Ivanhoe Mines Ltd., Class A * 777,280 1,874,349
Just Energy Group, Inc. 139,859 459,334
Kelt Exploration Ltd. * 188,288 611,424
Keyera Corp. 256,332 6,173,659
Kinaxis, Inc. * 31,271 1,811,400
Kinross Gold Corp. * 1,536,714 5,024,244
Kirkland Lake Gold Ltd. 231,507 8,005,734
Laurentian Bank of Canada 50,928 1,611,584
Linamar Corp. 60,525 1,930,049
Lundin Mining Corp. 774,792 3,461,605
Maple Leaf Foods, Inc. 95,637 2,150,577
Martinrea International, Inc. 106,109 767,620
MEG Energy Corp. * 303,440 978,622
Methanex Corp. 93,689 3,898,915
Morguard Real Estate Investment Trust 36,907 326,509
Mullen Group Ltd. 120,676 870,324
NFI Group, Inc. 66,931 1,665,972
Norbord, Inc. 61,831 1,207,440
Northland Power, Inc. 141,482 2,612,169
Northview Apartment Real Estate Investment Trust 63,592 1,253,118
NOVAGOLD RESOURCES, Inc. * 326,737 1,326,863
NuVista Energy Ltd. * 238,423 518,503
OceanaGold Corp. 751,605 2,073,738
Onex Corp. 102,867 5,865,831
Open Text Corp. 319,797 12,712,398
Osisko Gold Royalties Ltd. 188,527 1,963,503
Pan American Silver Corp. 254,049 2,756,786
Paramount Resources Ltd., A Shares *(a) 91,529 498,301
Parex Resources, Inc. * 182,798 2,765,159
Parkland Fuel Corp. 178,871 5,490,899
Security Number
of Shares 		Value ($)
Pason Systems, Inc. 89,759 1,282,746
Peyto Exploration & Development Corp. 194,306 676,959
PrairieSky Royalty Ltd. 292,524 3,860,218
Precision Drilling Corp. * 418,609 764,823
Premium Brands Holdings Corp. 38,240 2,372,357
Pretium Resources, Inc. * 214,401 1,826,984
Quebecor, Inc., Class B 141,257 3,333,159
Ritchie Bros. Auctioneers, Inc. 132,806 4,430,469
Russel Metals, Inc. 77,297 1,220,720
Secure Energy Services, Inc. 194,044 1,003,305
SEMAFO, Inc. * 394,428 1,181,621
Seven Generations Energy Ltd., A Shares * 331,840 1,774,690
ShawCor Ltd. 86,030 1,102,818
Sierra Wireless, Inc. * 43,988 530,368
SmartCentres Real Estate Investment Trust 159,657 3,857,088
SSR Mining, Inc. * 148,920 1,738,263
Stantec, Inc. 144,805 3,354,754
Stella-Jones, Inc. 70,918 2,374,250
Superior Plus Corp. 180,352 1,636,896
TFI International, Inc. 100,689 3,068,560
The Descartes Systems Group, Inc. * 93,761 3,759,734
The North West Co., Inc. 62,254 1,367,203
The Stars Group, Inc. * 185,720 3,075,872
TMX Group Ltd. 68,301 4,555,589
TORC Oil & Gas Ltd. 179,316 543,824
Torex Gold Resources, Inc. * 101,119 927,491
Toromont Industries Ltd. 96,491 4,240,351
Tourmaline Oil Corp. 307,380 3,910,745
TransAlta Corp. 357,548 2,364,435
TransAlta Renewables, Inc. 118,289 1,181,228
Transcontinental, Inc., Class A 99,014 1,046,609
Turquoise Hill Resources Ltd. * 1,212,430 1,434,935
Vermilion Energy, Inc. 167,699 3,515,489
West Fraser Timber Co., Ltd. 75,573 2,945,441
WestJet Airlines Ltd. 68,110 1,521,001
Westshore Terminals Investment Corp. 55,654 912,678
Whitecap Resources, Inc. 516,747 1,727,714
Winpak Ltd. 41,416 1,341,524
WSP Global, Inc. 127,400 6,718,208
Yamana Gold, Inc. 1,191,377 2,388,218
    389,739,218
 
Denmark 1.4%
ALK-Abello A/S * 7,911 1,815,649
Alm Brand A/S 75,402 648,111
Bang & Olufsen A/S * 42,064 326,406
Bavarian Nordic A/S *(a) 40,522 953,601
D/S Norden A/S 33,254 463,732
Dfds A/S 36,211 1,379,003
FLSmidth & Co. A/S 60,838 2,394,028
Matas A/S 36,817 388,429
Netcompany Group A/S * 30,981 1,196,476
Nilfisk Holding A/S * 33,726 1,056,886
NKT A/S *(a) 33,726 512,842
Ringkjoebing Landbobank A/S 37,022 2,441,891
Royal Unibrew A/S 61,750 4,386,197
Scandinavian Tobacco Group A/S, Class A 80,556 978,513
Schouw & Co. A/S 16,180 1,189,370
SimCorp A/S 48,620 4,730,497
Solar A/S, B Shares 5,639 277,690
Spar Nord Bank A/S 101,493 893,578
Sydbank A/S 78,538 1,473,192
Topdanmark A/S 51,775 2,773,695
    30,279,786
 
 
17

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Finland 1.2%
Ahlstrom-Munksjo Oyj 46,585 695,621
Cargotec Oyj, B Shares 59,553 1,953,724
Caverion Oyj 121,155 810,055
Citycon Oyj (a) 95,924 970,053
Cramo Oyj 51,624 1,032,038
DNA Oyj 76,223 1,778,625
F-Secure Oyj * 113,328 299,932
Finnair Oyj 63,721 454,093
Kemira Oyj 108,526 1,486,303
Konecranes Oyj 89,730 3,075,712
Metsa Board Oyj 213,322 967,977
Oriola Oyj, B Shares 148,956 326,999
Outokumpu Oyj (a) 373,512 1,095,499
Outotec Oyj * 181,436 662,352
Raisio Oyj, V Shares 143,831 459,197
Ramirent Oyj 79,712 460,568
Sanoma Oyj 94,714 853,328
Tieto Oyj 92,032 2,584,408
Uponor Oyj 80,270 790,728
Valmet Oyj 164,097 3,777,919
YIT Oyj 195,009 1,077,849
    25,612,980
 
France 2.8%
Akka Technologies 16,531 1,068,437
Albioma S.A. 32,308 770,452
Altarea S.C.A. 5,855 1,128,742
Alten S.A. 34,462 3,488,889
Altran Technologies S.A. 288,576 3,395,829
Beneteau S.A. 43,062 483,700
Boiron S.A. 3,130 134,285
Bonduelle S.C.A. 18,159 562,546
Carmila S.A. 37,150 647,466
CGG S.A. * 892,217 1,324,331
Coface S.A. 108,971 1,060,707
DBV Technologies S.A. *(a) 32,149 601,506
Derichebourg S.A. 128,359 438,837
Elior Group S.A. 127,337 1,491,348
Eramet 10,955 617,954
Etablissements Maurel et Prom * 68,068 219,970
Euronext N.V. 86,812 6,162,272
Europcar Mobility Group (a) 129,728 882,554
FFP 7,277 726,578
Fnac Darty S.A. * 20,858 1,585,181
Gaztransport Et Technigaz S.A. 26,811 2,434,963
Genfit * 36,180 875,689
GL Events 16,309 394,374
Guerbet 6,014 335,085
Interparfums S.A. 14,681 674,023
IPSOS 46,197 1,268,973
Jacquet Metal Service S.A. 16,833 300,501
Korian S.A. 55,829 2,216,029
LISI 19,268 566,842
Maisons du Monde S.A. 53,476 1,075,617
Manitou BF S.A. 15,393 433,976
Mercialys S.A. 75,673 933,491
Mersen S.A. 16,924 559,177
Metropole Television S.A. 77,967 1,397,071
Neopost S.A. 41,074 897,566
Nexans S.A. 37,290 1,065,032
Nexity S.A. 52,781 2,322,076
Pharmagest Inter@ctive 4,481 284,624
Rallye S.A. (a) 34,408 156,438
Rothschild & Co. 35,327 1,035,343
SMCP S.A. * 30,473 454,353
SOITEC * 21,284 1,781,209
Security Number
of Shares 		Value ($)
Sopra Steria Group 17,459 1,982,509
SPIE S.A. 148,493 2,548,287
Synergie S.A. 8,184 283,627
Tarkett S.A. 44,778 947,570
Technicolor S.A. * 459,316 491,365
Television Francaise 1 S.A. 133,025 1,265,198
Trigano S.A. 10,115 762,527
Vallourec S.A. *(a) 380,551 862,552
Vicat S.A. 18,302 911,649
Vilmorin & Cie S.A. 7,962 443,623
Virbac S.A. * 5,564 1,045,361
X-Fab Silicon Foundries SE * 64,410 345,598
    60,143,902
 
Germany 4.7%
Aareal Bank AG 72,881 2,131,080
ADO Properties S.A. 35,616 1,913,789
AIXTRON SE * 132,959 1,283,683
alstria Office REIT-AG 197,213 3,074,503
Aurubis AG 46,044 2,011,831
BayWa AG 17,197 485,794
Bechtle AG 35,083 3,932,931
Befesa S.A. * 28,467 1,165,791
Bertrandt AG 7,445 522,669
Bilfinger SE 36,379 1,102,659
CANCOM SE 41,716 2,020,292
CECONOMY AG * 219,209 1,236,034
comdirect bank AG 37,080 408,243
CompuGroup Medical SE 27,897 1,871,439
Corestate Capital Holding S.A. * 14,041 453,751
CTS Eventim AG & Co., KGaA 67,946 3,040,740
Dermapharm Holding SE * 14,328 500,547
Deutsche Beteiligungs AG 15,005 560,984
Deutsche Euroshop AG 63,395 1,881,962
Deutsche Pfandbriefbank AG 150,438 2,068,685
Deutz AG 151,040 1,247,188
Dialog Semiconductor plc * 94,406 2,998,238
DIC Asset AG 54,418 568,810
DMG Mori AG 23,418 1,111,683
Duerr AG 60,059 2,031,227
ElringKlinger AG * 39,409 246,366
Evotec SE * 162,668 3,924,476
Freenet AG 157,796 3,054,341
Gerresheimer AG 38,498 2,737,036
Grand City Properties S.A. 136,607 3,501,245
Hamburger Hafen und Logistik AG 30,896 731,960
Heidelberger Druckmaschinen AG * 321,869 472,016
Hornbach Holding AG & Co. KGaA 10,319 509,980
Hypoport AG * 4,892 1,034,676
Indus Holding AG 22,449 989,385
Isra Vision AG 19,879 722,161
Jenoptik AG 63,076 1,957,542
Kloeckner & Co. SE 110,719 590,989
Koenig & Bauer AG 16,686 648,560
Krones AG 17,902 1,398,432
KWS Saat SE 12,505 856,999
Leoni AG * 39,052 609,682
MorphoSys AG * 39,207 3,777,029
Nemetschek SE 22,615 3,460,101
Nordex SE * 82,434 1,168,464
Norma Group SE 39,433 1,531,824
PATRIZIA Immobilien AG 54,652 1,060,294
Pfeiffer Vacuum Technology AG 8,105 1,141,621
Rhoen-Klinikum AG 25,202 714,734
RIB Software SE 50,815 936,023
S&T AG 63,612 1,404,252
Salzgitter AG 46,610 1,208,641
SGL Carbon SE * 61,988 465,920
 
18

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Siltronic AG 25,305 1,726,320
Sixt SE 15,987 1,620,285
SMA Solar Technology AG * 11,186 311,379
Software AG 61,723 2,015,284
Stabilus S.A. 30,606 1,292,610
Stroeer SE & CO. KGaA 30,315 2,023,513
TAG Immobilien AG * 162,212 3,795,980
Takkt AG 39,529 554,138
Tele Columbus AG * 119,215 178,015
TLG Immobilien AG 104,513 3,057,182
Varta AG * 16,271 855,811
Vossloh AG 10,012 384,354
Wacker Neuson SE 31,501 730,145
Washtec AG 12,954 896,432
Wuestenrot & Wuerttembergische AG 22,126 462,549
XING SE 3,512 1,379,543
zooplus AG * 7,359 782,328
    102,545,170
 
Hong Kong 1.7%
Agritrade Resources Ltd. (a) 2,797,640 385,362
Anton Oilfield Services Group 2,297,651 293,047
Asia Cement China Holdings Corp. 535,875 720,373
Beijing Enterprises Medical & Health Group Ltd. * 2,624,552 79,668
Beijing Sports and Entertainment Industry Group Ltd. * 1,085,695 304,638
Beijing Tong Ren Tang Chinese Medicine Co., Ltd. 300,530 555,788
Camsing International Holding Ltd. (a) 459,925 478,077
Canvest Environmental Protection Group Co., Ltd. 877,029 401,571
CGN Meiya Power Holdings Co., Ltd. * 1,429,060 198,669
China Animal Healthcare Ltd. *(b) 192,752 —
China Harmony New Energy Auto Holding Ltd. (a) 876,557 299,618
China LNG Group Ltd. * 2,188,515 220,511
Chinese Estates Holdings Ltd. 602,073 551,350
Chow Sang Sang Holdings International Ltd. 282,835 416,287
CITIC Telecom International Holdings Ltd. 1,782,482 654,743
COFCO Meat Holdings Ltd. * 2,102,058 742,639
Crystal International Group Ltd. 583,129 261,795
Digital Domain Holdings Ltd. * 20,815,535 313,273
Dynam Japan Holdings Co., Ltd. 354,987 458,191
Emperor Capital Group Ltd. 4,785,383 183,101
Esprit Holdings Ltd. * 2,129,555 426,424
Far East Consortium International Ltd. 1,231,821 543,597
Fortune Real Estate Investment Trust 1,620,223 2,132,593
G-Resources Group Ltd. * 27,863,217 213,224
GCL New Energy Holdings Ltd. * 7,194,336 229,395
Gemdale Properties & Investment Corp., Ltd. 6,601,822 791,490
Giordano International Ltd. 1,442,866 649,612
Goodbaby International Holdings Ltd. 1,085,360 249,172
HC Group, Inc. * 785,089 328,433
HKBN Ltd. 879,648 1,400,158
IGG, Inc. 1,109,423 1,314,517
IMAX China Holding, Inc. 151,347 362,899
Inspur International Ltd. 711,045 306,526
Ju Teng International Holdings Ltd. 1,103,080 274,344
K Wah International Holdings Ltd. 1,646,057 953,135
KuangChi Science Ltd. * 2,209,910 136,700
Lee's Pharmaceutical Holdings Ltd. 318,635 210,512
Luk Fook Holdings International Ltd. 443,135 1,421,437
Man Wah Holdings Ltd. 1,865,082 742,174
Mandarin Oriental International Ltd. 373,373 701,941
Security Number
of Shares 		Value ($)
Mega Expo Holdings Ltd. (a) 1,379,392 376,491
Microport Scientific Corp. 505,683 403,744
Nan Hai Corp., Ltd. 16,694,023 323,637
NewOcean Energy Holdings Ltd. * 1,157,249 276,008
Pacific Basin Shipping Ltd. 5,420,804 947,191
Pacific Textiles Holdings Ltd. 631,653 513,182
Panda Green Energy Group Ltd. * 4,558,865 180,249
Pou Sheng International Holdings Ltd. 2,841,231 655,901
Prosperity REIT 1,414,056 596,964
Razer, Inc. * 4,448,355 839,682
Regina Miracle International Holdings Ltd. 410,584 346,144
Road King Infrastructure Ltd. 327,883 664,920
Singamas Container Holdings Ltd. 1,732,337 245,250
SITC International Holdings Co., Ltd. 1,437,712 1,465,117
SmarTone Telecommunications Holdings Ltd. 486,662 477,938
Sun Hung Kai & Co., Ltd. 650,971 311,348
Suncity Group Holdings Ltd. * 2,642,035 630,135
SUNeVision Holdings Ltd. 735,925 606,345
Sunlight Real Estate Investment Trust 1,357,923 988,928
Superb Summit International Group Ltd. *(b) 1,120,000 —
Texwinca Holdings Ltd. 790,824 251,150
The Hongkong & Shanghai Hotels Ltd. 908,687 1,286,444
The United Laboratories International Holdings Ltd. (a) 640,998 362,171
Town Health International Medical Group Ltd. *(a)(b) 3,638,120 1,160
Truly International Holdings Ltd. *(a) 2,091,486 298,763
Value Partners Group Ltd. 1,109,550 724,553
VSTECS Holdings Ltd. 782,985 428,415
We Solutions Ltd. * 4,329,619 265,060
Xiabuxiabu Catering Management China Holdings Co., Ltd. *(a) 349,085 505,782
    35,879,656
 
Ireland 0.4%
C&C Group plc 384,703 1,562,589
Cairn Homes plc * 870,007 1,182,781
Dalata Hotel Group plc 225,384 1,331,130
Green REIT plc 841,868 1,626,727
Hibernia REIT plc 852,740 1,298,043
Irish Continental Group plc 196,118 975,800
Permanent TSB Group Holdings plc * 135,794 202,772
    8,179,842
 
Israel 0.6%
Africa Israel Properties Ltd. * 16,196 449,070
Allot Ltd. * 36,201 252,435
AudioCodes Ltd. 26,564 410,299
Bayside Land Corp. 774 395,512
Big Shopping Centers Ltd. * 5,581 396,401
Brack Capital Properties N.V. * 2,948 304,733
Cellcom Israel Ltd. * 80,747 304,899
Clal Insurance Enterprises Holdings Ltd. * 48,102 760,999
Delta Galil Industries Ltd. 10,204 294,741
Electra Ltd. 2,159 628,979
Formula Systems 1985 Ltd. 9,265 436,156
Gilat Satellite Networks Ltd. 34,910 288,752
Hilan Ltd. 17,589 550,232
IDI Insurance Co., Ltd. 11,470 427,414
Jerusalem Economy Ltd. * 220,190 760,427
Kamada Ltd. * 38,013 209,228
Kenon Holdings Ltd. 18,423 350,871
Matrix IT Ltd. 37,111 547,531
Menora Mivtachim Holdings Ltd. 28,555 414,686
 
19

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Naphtha Israel Petroleum Corp., Ltd. 40,606 258,194
Nova Measuring Instruments Ltd. * 34,971 898,998
Partner Communications Co., Ltd. * 118,776 541,796
Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. 9,905 506,962
Reit 1 Ltd. 214,984 1,001,386
Sella Capital Real Estate Ltd. 248,904 504,778
Shapir Engineering and Industry Ltd. 136,140 493,799
Shikun & Binui Ltd. * 244,190 692,551
    13,081,829
 
Italy 2.7%
ACEA S.p.A. 56,271 1,043,421
Amplifon S.p.A. 146,557 3,243,452
Anima Holding S.p.A. 366,546 1,106,928
Arnoldo Mondadori Editore S.p.A. * 164,262 265,050
ASTM S.p.A. 41,125 1,115,445
Autogrill S.p.A. 153,155 1,553,082
Azimut Holding S.p.A. 148,979 2,469,470
Banca Farmafactoring S.p.A. 107,743 573,303
Banca Generali S.p.A. 70,818 1,778,768
Banca IFIS S.p.A. 27,544 349,908
Banca Monte dei Paschi di Siena S.p.A. * 306,273 356,312
Banca Popolare di Sondrio Scarl 554,757 1,283,370
Biesse S.p.A. 15,899 256,897
BPER Banca 473,739 1,786,451
Brembo S.p.A. 183,594 1,966,091
Brunello Cucinelli S.p.A. 40,982 1,286,019
C.I.R. - Compagnie Industriali Riunite S.p.A. 352,680 376,896
Cairo Communication S.p.A. 81,433 243,650
Carel Industries S.p.A. * 51,008 610,470
Cementir Holding S.p.A. 53,831 356,320
Cerved Group S.p.A. 243,672 2,139,703
Credito Emiliano S.p.A. 94,953 471,917
Danieli & C Officine Meccaniche S.p.A. 16,833 286,995
Datalogic S.p.A. 25,387 487,154
De'Longhi S.p.A. 79,746 1,569,355
doBank S.p.A. 49,012 594,228
Enav S.p.A. 319,225 1,725,283
ERG S.p.A. 69,135 1,341,277
Fincantieri S.p.A. * 588,237 603,717
Gima TT S.p.A. (a) 42,678 341,944
IMA Industria Macchine Automatiche S.p.A. 21,117 1,635,455
Immobiliare Grande Distribuzione SIIQ S.p.A. 58,567 401,375
Infrastrutture Wireless Italiane S.p.A. 298,360 2,681,431
Interpump Group S.p.A. 100,732 2,936,479
Iren S.p.A. 804,006 1,985,412
Italmobiliare S.p.A. 13,526 295,726
Juventus Football Club S.p.A. *(a) 464,721 793,364
Maire Tecnimont S.p.A. 176,666 508,313
MARR S.p.A. 40,322 909,890
OVS S.p.A. *(a) 211,991 353,640
Piaggio & C S.p.A. 197,768 569,469
RAI Way S.p.A. 123,336 623,975
RCS MediaGroup S.p.A. (a) 134,520 132,814
Reply S.p.A. 25,042 1,608,755
Salini Impregilo S.p.A *(a) 212,137 411,327
Saras S.p.A. 679,487 976,013
Societa Cattolica di Assicurazioni SC 190,365 1,536,906
Societa Iniziative Autostradali e Servizi S.p.A. 85,084 1,477,192
Tamburi Investment Partners S.p.A. 124,235 818,188
Technogym S.p.A. 121,890 1,394,955
Tod's S.p.A. (a) 16,223 787,482
Security Number
of Shares 		Value ($)
Unipol Gruppo S.p.A. 593,304 2,731,204
Zignago Vetro S.p.A. 38,460 428,579
    57,580,820
 
Japan 18.7%
Achilles Corp. 15,533 279,973
Adastria Co., Ltd. 34,419 846,408
ADEKA Corp. 121,527 1,700,203
Advan Co., Ltd. 30,035 282,162
Aeon Delight Co., Ltd. 22,589 652,236
Ai Holdings Corp. 41,966 655,532
Aichi Corp. 31,225 187,508
Aichi Steel Corp. 14,221 415,857
Aida Engineering Ltd. 70,672 470,604
Aiphone Co., Ltd. 14,685 218,162
Aisan Industry Co., Ltd. 40,524 251,187
Akatsuki, Inc. 6,086 329,594
Alconix Corp. 25,326 314,432
Alpen Co., Ltd. 19,812 295,424
Amano Corp. 83,862 2,178,133
Amuse, Inc. 13,771 327,359
Anest Iwata Corp. 37,015 324,893
Anicom Holdings, Inc. 24,065 783,512
Anritsu Corp. (a) 175,721 2,812,831
AOKI Holdings, Inc. 46,171 436,302
Arakawa Chemical Industries Ltd. 21,785 246,994
Arata Corp. 15,463 535,491
Arcland Sakamoto Co., Ltd. 30,641 375,058
Arcland Service Holdings Co., Ltd. 16,650 293,972
Arcs Co., Ltd. 45,194 882,027
Argo Graphics, Inc. 17,970 381,826
Aruhi Corp. (a) 21,441 390,016
AS One Corp. 15,554 1,396,744
Asahi Co., Ltd. 15,410 186,495
Asahi Diamond Industrial Co., Ltd. 62,429 372,015
Asahi Holdings, Inc. 44,530 862,506
ASAHI YUKIZAI Corp. 15,208 194,276
ASKA Pharmaceutical Co., Ltd. 35,865 385,819
Asunaro Aoki Construction Co., Ltd. 26,065 192,532
Atom Corp. (a) 102,730 900,750
Avex, Inc. 39,639 490,308
Axial Retailing, Inc. 18,880 691,209
Bando Chemical Industries Ltd. 52,047 438,139
Bank of the Ryukyus Ltd. 51,922 550,902
Belc Co., Ltd. 11,952 566,915
Bell System24 Holdings, Inc. 40,818 588,351
Belluna Co., Ltd. 55,659 390,625
BML, Inc. 26,037 737,405
Broadleaf Co., Ltd. 98,502 504,417
BRONCO BILLY Co., Ltd. 12,343 250,555
Bunka Shutter Co., Ltd. 68,229 517,805
Canon Electronics, Inc. 24,960 400,234
Cawachi Ltd. 13,730 233,059
Central Glass Co., Ltd. 49,485 1,089,741
Central Security Patrols Co., Ltd. 7,905 404,078
Central Sports Co., Ltd. 6,950 209,956
Change, Inc. *(a) 11,220 269,714
CHIMNEY Co., Ltd. 8,236 188,121
Chiyoda Co., Ltd. 31,184 466,719
Chiyoda Corp. *(a) 187,395 500,525
Chiyoda Integre Co., Ltd. 14,100 260,897
Chofu Seisakusho Co., Ltd. 23,927 473,802
Chubu Shiryo Co., Ltd. 35,569 373,790
Chudenko Corp. 30,336 616,918
Chugoku Marine Paints Ltd. 69,155 596,169
CI Takiron Corp. 47,260 275,529
CKD Corp. 66,528 592,517
CMK Corp. 62,606 372,493
 
20

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Cocokara fine, Inc. 22,678 879,340
COLOPL, Inc. 61,835 428,844
Colowide Co., Ltd. 71,098 1,372,520
Computer Engineering & Consulting Ltd. 29,720 528,295
CONEXIO Corp. 17,443 206,440
Cosel Co., Ltd. 26,886 255,798
Create Restaurants Holdings, Inc. 54,628 714,453
Create SD Holdings Co., Ltd. 26,054 564,153
Dai Nippon Toryo Co., Ltd. 29,521 261,835
Dai-Dan Co., Ltd. 16,129 318,495
Daibiru Corp. 58,757 511,401
Daido Metal Co., Ltd. 55,718 339,722
Daihen Corp. 24,780 647,715
Daiho Corp. 19,635 497,679
Daiichi Jitsugyo Co., Ltd. 11,976 360,135
Daiken Corp. 20,280 410,363
Daikokutenbussan Co., Ltd. 6,305 200,343
Daikyonishikawa Corp. 65,430 487,524
Dainichiseika Color & Chemicals Manufacturing Co., Ltd. 16,528 435,368
Daio Paper Corp. 89,547 1,034,234
Daiseki Co., Ltd. 47,453 1,180,042
Daito Pharmaceutical Co., Ltd. 14,531 450,351
Daiwa Industries Ltd. 34,243 376,886
Daiwabo Holdings Co., Ltd. 22,994 964,657
DCM Holdings Co., Ltd. 122,915 1,226,037
Denki Kogyo Co., Ltd. 14,845 352,752
Denyo Co., Ltd. 18,310 223,784
Descente Ltd. 46,566 786,143
Dexerials Corp. 57,509 365,473
Digital Arts, Inc. 11,823 968,054
Digital Garage, Inc. 39,234 1,277,386
Dip Corp. 23,905 360,639
Doshisha Co., Ltd. 29,593 464,167
Doutor Nichires Holdings Co., Ltd. 32,838 633,018
DTS Corp. 24,961 1,014,993
Duskin Co., Ltd. 54,513 1,426,401
DyDo Group Holdings, Inc. 11,340 469,998
Eagle Industry Co., Ltd. 34,771 323,451
Earth Corp. 16,770 769,960
EDION Corp. 109,577 954,730
eGuarantee, Inc. 35,295 436,901
Eiken Chemical Co., Ltd. 39,058 688,889
Eizo Corp. 23,040 841,387
Elecom Co., Ltd. 26,715 866,100
en-japan, Inc. 37,930 1,343,227
Enplas Corp. 14,132 394,381
EPS Holdings, Inc. 46,571 763,065
eRex Co., Ltd. 38,473 458,522
ES-Con Japan Ltd. 35,150 220,790
ESPEC Corp. 23,764 488,959
euglena Co., Ltd. * 82,111 637,528
F@N Communications, Inc. 58,412 281,368
FCC Co., Ltd. 43,890 883,257
Feed One Co., Ltd. 179,245 293,858
FIDEA Holdings Co., Ltd. 205,749 221,714
Financial Products Group Co., Ltd. 72,304 588,687
Fixstars Corp. 29,672 494,647
Foster Electric Co., Ltd. 25,602 360,774
France Bed Holdings Co., Ltd. 27,800 251,948
Fudo Tetra Corp. 17,297 211,244
Fuji Co., Ltd. 23,801 385,156
Fuji Corp. 100,077 1,099,626
Fuji Kyuko Co., Ltd. 28,388 1,030,152
Fuji Pharma Co., Ltd. 18,578 246,053
Fuji Soft, Inc. 25,483 1,087,854
Fujibo Holdings, Inc. 14,814 311,220
Fujicco Co., Ltd. 25,282 498,305
Fujimi, Inc. 24,556 463,415
Security Number
of Shares 		Value ($)
Fujimori Kogyo Co., Ltd. 18,345 468,699
Fujita Kanko, Inc. 9,830 236,934
Fujitec Co., Ltd. 96,443 1,259,555
Fujiya Co., Ltd. 12,610 224,965
Fukuda Corp. 6,579 256,616
Fukushima Industries Corp. 13,248 433,161
FULLCAST Holdings Co., Ltd. 25,719 495,548
Funai Soken Holdings, Inc. 38,432 928,810
Furukawa Co., Ltd. 38,997 473,028
Furuno Electric Co., Ltd. 27,470 234,788
Fuso Chemical Co., Ltd. 23,670 429,254
Fuso Pharmaceutical Industries Ltd. 8,985 165,011
Futaba Corp. 42,613 541,223
Futaba Industrial Co., Ltd. 74,135 366,664
Future Corp. 24,022 426,787
G-Tekt Corp. 27,062 367,889
Gakken Holdings Co., Ltd. 6,096 254,620
GCA Corp. 27,535 183,102
Genky DrugStores Co., Ltd. 9,571 229,898
Geo Holdings Corp. 32,223 405,700
Giken Ltd. 16,525 488,559
GLOBERIDE, Inc. 11,680 350,696
Goldcrest Co., Ltd. 22,053 358,088
Gree, Inc. 117,005 530,200
Gunosy, Inc. *(a) 16,335 287,809
Gunze Ltd. 21,579 903,307
Gurunavi, Inc. 28,417 142,379
Hamakyorex Co., Ltd. 20,074 668,363
Hanwa Co., Ltd. 44,415 1,127,403
Happinet Corp. 21,469 264,766
Hazama Ando Corp. 237,539 1,555,517
Heiwa Real Estate Co., Ltd. 42,178 816,561
Heiwado Co., Ltd. 36,154 636,337
Hibiya Engineering Ltd. 21,580 367,700
Hiday Hidaka Corp. 34,003 632,614
Hioki EE Corp. 11,686 377,784
Hirata Corp. 9,920 475,100
Hisaka Works Ltd. 25,865 214,877
Hitachi Zosen Corp. 193,147 635,077
Hodogaya Chemical Co., Ltd. 6,950 163,228
Hogy Medical Co., Ltd. 27,898 882,612
Hokuetsu Corp. 169,779 839,708
Hokuto Corp. 24,414 402,047
Hoosiers Holdings 63,920 348,521
Hosiden Corp. 71,196 721,304
Hosokawa Micron Corp. 7,478 320,264
IBJ Leasing Co., Ltd. 35,689 827,676
Ichibanya Co., Ltd. 20,676 863,603
Ichikoh Industries Ltd. 65,460 344,257
Ichiyoshi Securities Co., Ltd. 42,898 306,993
Icom, Inc. 12,065 243,911
Idec Corp. 32,605 573,572
IDOM, Inc. 61,290 152,978
Iino Kaiun Kaisha Ltd. 104,522 335,010
Inaba Denki Sangyo Co., Ltd. 32,646 1,295,918
Inabata & Co., Ltd. 55,283 686,869
Inageya Co., Ltd. 29,444 363,118
Ines Corp. 30,309 330,517
Infomart Corp. 127,021 1,939,681
Information Services International-Dentsu Ltd. 18,224 569,002
Intage Holdings, Inc. 43,180 401,674
Internet Initiative Japan, Inc. 35,959 689,870
Iriso Electronics Co., Ltd. 24,451 1,112,484
Iseki & Co., Ltd. 18,190 241,249
Ishihara Sangyo Kaisha Ltd. 41,654 388,630
Istyle, Inc. (a) 60,885 443,565
Itochu Enex Co., Ltd. 57,181 441,859
Itochu-Shokuhin Co., Ltd. 6,459 260,859
 
21

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Itoki Corp. 49,547 187,555
Iwatani Corp. 53,766 1,760,425
J Trust Co., Ltd. (a) 103,467 461,230
J-Oil Mills, Inc. 11,222 409,811
JAC Recruitment Co., Ltd. 22,420 533,165
Jaccs Co., Ltd. 30,623 535,039
Jafco Co., Ltd. 37,930 1,355,454
Jamco Corp. 14,330 283,894
Japan Cash Machine Co., Ltd. 17,675 176,953
Japan Display, Inc. *(a) 734,565 432,993
Japan Elevator Service Holdings Co., Ltd. (a) 38,820 784,087
Japan Lifeline Co., Ltd. 84,798 1,354,269
Japan Material Co., Ltd. 68,825 867,166
Japan Pulp & Paper Co., Ltd. 12,319 430,016
Japan Securities Finance Co., Ltd. 109,006 558,207
Japan Transcity Corp. 62,372 254,486
JCR Pharmaceuticals Co., Ltd. 17,207 1,077,666
JCU Corp. 27,170 495,479
Jeol Ltd. 46,773 997,278
Jimoto Holdings, Inc. 240,695 217,252
JINS, Inc. 18,575 1,105,176
Joshin Denki Co., Ltd. 21,679 437,274
Joyful Honda Co., Ltd. 76,298 866,456
JSP Corp. 17,018 308,307
Juki Corp. 32,782 277,473
Justsystems Corp. 41,920 1,312,715
JVC Kenwood Corp. 200,985 427,608
K&O Energy Group, Inc. 17,080 253,742
kabu.com Securities Co., Ltd. 188,969 971,169
Kadokawa Dwango * 48,460 643,604
Kaga Electronics Co., Ltd. 27,103 395,905
Kamakura Shinsho Ltd. 22,640 316,533
Kameda Seika Co., Ltd. 16,197 716,800
Kamei Corp. 28,514 298,599
Kanaden Corp. 22,740 269,969
Kanagawa Chuo Kotsu Co., Ltd. 7,695 273,214
Kanamoto Co., Ltd. 38,031 844,511
Kanematsu Corp. 102,388 1,156,138
Kanematsu Electronics Ltd. 14,671 421,584
Kansai Super Market Ltd. 24,030 230,396
Kanto Denka Kogyo Co., Ltd. 54,248 351,744
Kappa Create Co., Ltd. 26,502 335,379
Kasai Kogyo Co., Ltd. 31,655 217,496
Katakura Industries Co., Ltd. 26,338 291,337
Katitas Co., Ltd. (a) 29,998 1,078,906
Kato Sangyo Co., Ltd. 27,026 840,090
Kato Works Co., Ltd. 13,841 244,759
KAWADA TECHNOLOGIES, Inc. 5,572 413,634
Keihanshin Building Co., Ltd. 42,756 391,430
Keihin Corp. 51,656 671,302
Keiyo Co., Ltd. 51,875 236,979
Kenedix, Inc. 267,285 1,294,883
Kenko Mayonnaise Co., Ltd. 15,388 336,035
Key Coffee, Inc. 19,618 378,899
KFC Holdings Japan Ltd. 20,643 377,401
KH Neochem Co., Ltd. 43,175 1,156,370
Kintetsu Department Store Co., Ltd. 11,510 349,832
Kintetsu World Express, Inc. 45,775 596,983
Kisoji Co., Ltd. 25,454 588,671
Kitanotatsujin Corp. 82,635 433,819
Kitz Corp. 104,617 688,935
KLab, Inc. * 38,623 288,138
Koa Corp. 36,052 418,711
Koatsu Gas Kogyo Co., Ltd. 33,360 248,260
Kobe Bussan Co., Ltd. 13,211 607,773
Kohnan Shoji Co., Ltd. 32,757 673,996
Komatsu Matere Co., Ltd. 42,175 296,381
KOMEDA Holdings Co., Ltd. 40,190 763,638
Security Number
of Shares 		Value ($)
Komori Corp. 53,794 552,432
Konishi Co., Ltd. 31,524 456,129
Konoike Transport Co., Ltd. 35,308 539,498
Koshidaka Holdings Co., Ltd. 56,109 735,890
Kotobuki Spirits Co., Ltd. 22,343 1,156,506
Kourakuen Holdings Corp. 11,680 313,905
Krosaki Harima Corp. 4,453 246,899
Kumagai Gumi Co., Ltd. 43,785 1,162,626
Kumiai Chemical Industry Co., Ltd. 121,065 827,356
Kura Sushi, Inc. (a) 12,337 480,072
Kurabo Industries Ltd. 24,393 428,211
Kureha Corp. 23,087 1,467,191
KYB Corp. * 23,767 613,794
Kyodo Printing Co., Ltd. 10,030 250,900
Kyoei Steel Ltd. 27,323 452,468
Kyokuto Kaihatsu Kogyo Co., Ltd. 38,053 461,227
Kyokuto Securities Co., Ltd. 27,064 228,078
Kyokuyo Co., Ltd. 12,964 323,339
Kyosan Electric Manufacturing Co., Ltd. 56,958 184,658
Lasertec Corp. 48,803 1,708,049
LEC, Inc. 32,330 360,893
Leopalace21 Corp. *(a) 280,870 825,213
Life Corp. 23,264 493,028
LIFULL Co., Ltd. 79,725 437,634
Link And Motivation, Inc. 60,017 333,320
LIXIL VIVA Corp. 27,421 306,853
M&A Capital Partners Co., Ltd. * 8,598 494,934
Macnica Fuji Electronics Holdings, Inc. 57,193 671,093
Macromill, Inc. 45,379 517,423
Maeda Kosen Co., Ltd. 26,306 461,794
Makino Milling Machine Co., Ltd. 25,658 888,548
Mandom Corp. 46,859 1,149,734
Mani, Inc. 25,760 1,608,591
Mars Group Holdings Corp. 11,485 218,011
Marudai Food Co., Ltd. 28,275 499,223
Marusan Securities Co., Ltd. 71,462 371,214
Maruwa Co., Ltd. 10,575 488,939
Maruwa Unyu Kikan Co., Ltd. 11,380 426,586
Maruzen Showa Unyu Co., Ltd. 18,681 566,065
Marvelous, Inc. 34,598 256,199
Matsuya Co., Ltd. 49,648 414,286
Matsuyafoods Holdings Co., Ltd. 9,434 288,472
Max Co., Ltd. 49,395 681,044
Maxell Holdings Ltd. 52,275 870,969
MCJ Co., Ltd. 81,107 508,716
Medical Data Vision Co., Ltd. *(a) 18,520 247,672
Megachips Corp. 20,785 237,762
Meidensha Corp. 48,634 675,478
Meisei Industrial Co., Ltd. 51,893 314,489
Meitec Corp. 30,973 1,474,837
Melco Holdings, Inc. 11,837 333,060
Menicon Co., Ltd. 28,763 974,882
METAWATER Co., Ltd. 14,558 435,768
Micronics Japan Co., Ltd. 40,987 341,637
Mie Kotsu Group Holdings, Inc. 69,927 380,630
Milbon Co., Ltd. 24,605 1,164,814
Mimasu Semiconductor Industry Co., Ltd. 16,435 223,574
Ministop Co., Ltd. 14,989 222,954
Mirait Holdings Corp. 89,315 1,400,084
Miroku Jyoho Service Co., Ltd. 22,945 681,535
Mitsuba Corp. 41,213 197,762
Mitsubishi Logisnext Co., Ltd. 34,766 366,952
Mitsubishi Pencil Co., Ltd. 55,724 992,588
Mitsubishi Research Institute, Inc. 7,090 211,247
Mitsubishi Steel Manufacturing Co., Ltd. 14,565 149,976
Mitsuboshi Belting Ltd. 25,598 464,925
Mitsui E&S Holdings Co., Ltd. * 90,032 719,758
Mitsui High-Tec, Inc. 32,314 305,655
Mitsui Sugar Co., Ltd. 18,368 387,069
 
22

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Mitsui-Soko Holdings Co., Ltd. 27,957 415,589
Mitsuuroko Group Holdings Co., Ltd. 55,177 389,784
Mizuno Corp. 22,167 490,195
Modec, Inc. 23,428 590,366
Monex Group, Inc. 217,710 665,712
Monogatari Corp. 5,556 442,638
Morita Holdings Corp. 49,189 860,326
MOS Food Services, Inc. 29,402 643,689
Musashi Seimitsu Industry Co., Ltd. 54,595 675,304
Nachi-Fujikoshi Corp. 23,253 886,644
Nagaileben Co., Ltd. 31,696 699,458
Nagatanien Holdings Co., Ltd. 14,026 276,838
Namura Shipbuilding Co., Ltd. 58,243 156,638
NEC Networks & System Integration Corp. 27,661 696,015
NET One Systems Co., Ltd. 102,431 2,748,160
Neturen Co., Ltd. 38,597 291,144
Nextage Co., Ltd. 43,745 446,415
Nichi-iko Pharmaceutical Co., Ltd. 55,071 623,369
Nichias Corp. 66,715 1,118,317
Nichiban Co., Ltd. 15,334 329,630
Nichicon Corp. 74,875 550,313
Nichiden Corp. 15,690 239,595
Nichiha Corp. 35,481 931,672
NichiiGakkan Co., Ltd. 48,821 632,211
Nihon Chouzai Co., Ltd. 7,935 259,080
Nihon Parkerizing Co., Ltd. 117,025 1,295,547
Nihon Tokushu Toryo Co., Ltd. 18,173 195,497
Nihon Trim Co., Ltd. 5,534 260,963
Nikkiso Co., Ltd. 84,327 1,086,562
Nippon Beet Sugar Manufacturing Co., Ltd. 13,255 228,903
Nippon Carbon Co., Ltd. (a) 12,572 458,532
Nippon Ceramic Co., Ltd. 23,233 612,842
Nippon Chemi-Con Corp. 20,505 295,370
Nippon Denko Co., Ltd. 143,373 252,215
Nippon Densetsu Kogyo Co., Ltd. 43,301 914,476
Nippon Flour Mills Co., Ltd. 65,603 1,076,113
Nippon Holdings Co., Ltd. 62,719 1,425,077
Nippon Kanzai Co., Ltd. 20,091 336,407
Nippon Koei Co., Ltd. 19,289 427,263
Nippon Light Metal Holdings Co., Ltd. 718,857 1,522,792
Nippon Parking Development Co., Ltd. 187,205 298,287
Nippon Seiki Co., Ltd. 59,280 962,566
Nippon Sheet Glass Co., Ltd. 108,770 713,279
Nippon Signal Co., Ltd. 75,743 772,952
Nippon Soda Co., Ltd. 32,676 782,478
Nippon Steel Trading Corp. 17,595 678,196
Nippon Suisan Kaisha Ltd. 322,451 1,960,098
Nippon Thompson Co., Ltd. 81,168 324,448
Nippon Yakin Kogyo Co., Ltd. (a) 187,525 354,065
Nishimatsu Construction Co., Ltd. 64,556 1,235,527
Nishimatsuya Chain Co., Ltd. 54,840 439,932
Nishio Rent All Co., Ltd. 19,203 498,226
Nissei ASB Machine Co., Ltd. 10,194 274,156
Nissha Co., Ltd. (a) 51,742 482,751
Nissin Corp. 14,336 230,934
Nissin Electric Co., Ltd. 57,136 553,600
Nissin Kogyo Co., Ltd. 45,991 575,655
Nissin Sugar Co., Ltd. 13,980 234,341
Nisso Corp. 20,293 267,271
Nitta Corp. 23,547 658,210
Nittetsu Mining Co., Ltd. 8,456 332,944
Nitto Boseki Co., Ltd. 34,226 621,632
Nitto Kogyo Corp. 33,305 569,935
Nitto Kohki Co., Ltd. 13,155 252,135
Nohmi Bosai Ltd. 25,197 477,136
Nojima Corp. 42,254 712,179
Nomura Co., Ltd. 95,061 1,202,107
Noritake Co., Ltd. 15,502 653,918
Security Number
of Shares 		Value ($)
Noritsu Koki Co., Ltd. 26,316 413,979
Noritz Corp. 41,179 520,355
NS United Kaiun Kaisha Ltd. 13,175 275,088
NSD Co., Ltd. 49,272 1,372,764
Obara Group, Inc. 14,097 461,569
Ohsho Food Service Corp. 13,136 803,344
Oiles Corp. 35,609 480,799
Okabe Co., Ltd. 55,002 487,331
Okamoto Industries, Inc. 18,022 801,716
Okamura Corp. 98,406 965,253
Okasan Securities Group, Inc. 199,612 711,488
Oki Electric Industry Co., Ltd. 103,171 1,270,455
Okumura Corp. 45,985 1,408,244
Okuwa Co., Ltd. 32,795 319,870
Onoken Co., Ltd. 19,360 243,571
Onward Holdings Co., Ltd. 137,775 725,833
Open Door, Inc. * 14,831 412,522
OPT Holding, Inc. (a) 23,021 293,023
Optex Group Co., Ltd. 39,120 465,873
Optorun Co., Ltd. 9,874 211,803
Organo Corp. 8,055 240,741
Osaka Soda Co., Ltd. 22,144 532,109
Osaka Steel Co., Ltd. 14,645 229,707
OSAKA Titanium Technologies Co., Ltd. 21,197 313,538
Osaki Electric Co., Ltd. 52,559 307,875
OSJB Holdings Corp. 112,270 286,427
Outsourcing, Inc. 123,542 1,294,873
Oyo Corp. 26,262 255,424
Pacific Industrial Co., Ltd. 57,511 755,337
Pacific Metals Co., Ltd. 18,430 375,984
PAL GROUP Holdings Co., Ltd. 13,697 415,042
Paramount Bed Holdings Co., Ltd. 25,051 955,203
Pasona Group, Inc. 22,608 348,360
Pepper Food Service Co., Ltd. (a) 15,123 268,544
PIA Corp. 7,924 352,867
Piolax, Inc. 28,464 468,480
Plenus Co., Ltd. 30,421 513,858
Press Kogyo Co., Ltd. 105,249 449,786
Pressance Corp. 38,429 483,128
Prestige International, Inc. 51,293 709,575
Prima Meat Packers Ltd. 36,367 710,760
Qol Holdings Co., Ltd. 26,466 351,255
Raito Kogyo Co., Ltd. 54,247 666,003
Relia, Inc. 50,919 550,577
Remixpoint, Inc. *(a) 69,600 229,489
RENOVA, Inc. * 52,225 414,625
Restar Holdings Corp. 36,231 498,541
Retail Partners Co., Ltd. 42,890 453,095
Rheon Automatic Machinery Co., Ltd. 29,792 434,087
Ricoh Leasing Co., Ltd. 17,618 542,779
Riken Corp. 10,809 429,075
Riken Keiki Co., Ltd. 21,663 383,879
Riken Technos Corp. 63,524 278,493
Riken Vitamin Co., Ltd. 9,676 309,240
Ringer Hut Co., Ltd. 25,999 562,244
Riso Kagaku Corp. 29,748 479,201
Riso Kyoiku Co., Ltd. 106,285 427,783
Rock Field Co., Ltd. 23,193 338,363
Rokko Butter Co., Ltd. 13,054 241,302
Roland DG Corp. 14,589 326,514
Round One Corp. 86,861 1,290,415
Royal Holdings Co., Ltd. 32,556 808,090
RS Technologies Co., Ltd. 7,733 167,088
Ryobi Ltd. 33,752 616,753
Ryoden Corp. 15,145 213,836
Ryosan Co., Ltd. 30,301 711,651
Ryoyo Electro Corp. 23,930 367,849
S Foods, Inc. 22,469 755,347
Sac's Bar Holdings, Inc. 23,650 217,604
 
23

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Sagami Holdings Corp. 22,640 275,246
Saibu Gas Co., Ltd. 29,726 623,404
Saizeriya Co., Ltd. 31,248 698,205
Sakai Chemical Industry Co., Ltd. 19,073 435,829
Sakai Moving Service Co., Ltd. 11,060 654,992
Sakata INX Corp. 52,549 461,725
Sakata Seed Corp. 38,700 1,176,238
SAMTY Co., Ltd. 31,635 414,613
San ju San Financial Group, Inc. 25,664 340,611
San-A Co., Ltd. 22,818 884,769
San-Ai Oil Co., Ltd. 68,669 597,672
Sangetsu Corp. 72,484 1,385,925
Sanken Electric Co., Ltd. 28,603 573,509
Sanki Engineering Co., Ltd. 48,513 546,009
Sankyo Tateyama, Inc. 33,049 346,699
Sanshin Electronics Co., Ltd. 20,834 339,638
Sanyo Chemical Industries Ltd. 12,667 650,996
Sanyo Denki Co., Ltd. 13,548 474,164
Sanyo Electric Railway Co., Ltd. 20,939 432,762
Sanyo Shokai Ltd. 14,348 231,920
Sanyo Special Steel Co., Ltd. 26,806 364,162
Sato Holdings Corp. 29,375 733,191
SBS Holdings, Inc. 20,605 321,292
Seikagaku Corp. 45,217 518,491
Seiko Holdings Corp. 32,862 611,991
Seiren Co., Ltd. 56,361 714,278
Sekisui Jushi Corp. 35,144 659,992
Sekisui Plastics Co., Ltd. 29,897 194,403
Senko Group Holdings Co., Ltd. 127,205 1,027,481
Senshu Ikeda Holdings, Inc. 342,974 672,839
Shibuya Corp. 24,022 638,522
Shikoku Chemicals Corp. 40,485 375,859
Shin Nippon Air Technologies Co., Ltd. 16,680 262,240
Shin-Etsu Polymer Co., Ltd. 43,484 296,769
Shindengen Electric Manufacturing Co., Ltd. 9,174 291,506
Shinko Electric Industries Co., Ltd. 80,017 642,642
Shinko Plantech Co., Ltd. 45,959 510,491
Shinko Shoji Co., Ltd. 21,733 367,905
Shinmaywa Industries Ltd. 96,353 1,151,000
Shinnihon Corp. 30,007 243,483
Shinwa Co., Ltd. 12,500 245,913
Ship Healthcare Holdings, Inc. 48,165 2,049,480
Shizuoka Gas Co., Ltd. 70,949 537,794
Shoei Co., Ltd. 15,248 605,988
Shoei Foods Corp. (a) 15,139 423,181
Showa Corp. 60,937 747,015
Showa Sangyo Co., Ltd. 32,968 921,555
Siix Corp. 40,885 448,106
Sinanen Holdings Co., Ltd. 11,765 200,246
Sinfonia Technology Co., Ltd. 33,491 362,440
Sinko Industries Ltd. 27,856 409,726
Sintokogio Ltd. 69,925 589,283
SMS Co., Ltd. 60,579 1,466,282
Sodick Co., Ltd. 46,300 400,421
Sogo Medical Holdings Co., Ltd. 20,955 335,820
Solasto Corp. 58,973 521,428
Sourcenext Corp. (a) 95,990 398,724
Space Value Holdings Co., Ltd. 39,797 197,565
ST Corp. 12,191 192,676
St Marc Holdings Co., Ltd. 15,829 344,207
Star Micronics Co., Ltd. 40,408 492,749
Starts Corp., Inc. 39,182 922,036
Starzen Co., Ltd. 8,664 321,184
Stella Chemifa Corp. 10,427 256,029
Strike Co., Ltd. (a) 17,020 301,289
Studio Alice Co., Ltd. 12,850 239,543
Sumida Corp. 26,282 270,384
Sumitomo Densetsu Co., Ltd. 17,180 259,183
Security Number
of Shares 		Value ($)
Sumitomo Mitsui Construction Co., Ltd. 186,221 1,056,524
Sumitomo Riko Co., Ltd. 43,591 311,952
Sumitomo Seika Chemicals Co., Ltd. 10,156 313,823
Sun Frontier Fudousan Co., Ltd. 33,768 312,255
Suruga Bank Ltd. *(a) 212,515 853,387
Sushiro Global Holdings Ltd. 23,139 1,609,021
Systena Corp. 84,193 1,220,537
T Hasegawa Co., Ltd. 28,008 463,296
T-Gaia Corp. 26,172 422,802
Tachi-S Co., Ltd. 32,977 392,413
Tachibana Eletech Co., Ltd. 21,893 306,290
Taihei Dengyo Kaisha Ltd. 18,520 346,434
Taikisha Ltd. 35,756 1,066,999
Taiyo Holdings Co., Ltd. 21,274 648,556
Takamatsu Construction Group Co., Ltd. 17,755 380,365
Takara Leben Co., Ltd. 103,827 352,864
Takara Standard Co., Ltd. 58,601 882,456
Takasago International Corp. 19,002 539,039
Takasago Thermal Engineering Co., Ltd. 78,475 1,208,475
Takeuchi Manufacturing Co., Ltd. 42,559 702,424
Taki Chemical Co., Ltd. 5,660 229,632
Takuma Co., Ltd. 90,710 1,186,352
Tamron Co., Ltd. 18,477 374,050
Tamura Corp. 88,722 429,003
Tanseisha Co., Ltd. 42,634 441,360
Tayca Corp. 20,287 422,837
Teikoku Electric Manufacturing Co., Ltd. 19,352 212,101
Teikoku Sen-I Co., Ltd. 27,184 553,319
Tekken Corp. 15,643 425,023
Tenma Corp. 20,105 330,531
The Aichi Bank Ltd. 12,230 404,381
The Akita Bank Ltd. 20,348 395,809
The Aomori Bank Ltd. 23,037 593,456
The Bank of Iwate Ltd. 20,052 540,568
The Bank of Nagoya Ltd. 20,732 673,086
The Bank of Okinawa Ltd. 27,240 863,050
The Bank of Saga Ltd. 14,945 217,620
The Chukyo Bank Ltd. 14,100 287,389
The Ehime Bank Ltd. 44,852 449,449
The Fukui Bank Ltd. 28,217 397,624
The Hokkoku Bank Ltd. 28,849 799,774
The Hyakugo Bank Ltd. 257,594 768,689
The Hyakujushi Bank Ltd. 33,649 685,532
The Japan Wool Textile Co., Ltd. 90,070 688,539
The Juroku Bank Ltd. 43,672 914,266
The Keiyo Bank Ltd. 143,115 823,826
The Kiyo Bank Ltd. 77,505 1,050,770
The Michinoku Bank Ltd. 19,350 296,198
The Miyazaki Bank Ltd. 18,265 435,534
The Musashino Bank Ltd. 40,104 751,292
The Nanto Bank Ltd. 38,369 768,617
The Nippon Road Co., Ltd. 6,954 390,052
The Nisshin Oillio Group Ltd. 28,940 843,611
The Ogaki Kyoritsu Bank Ltd. 47,244 1,046,917
The Oita Bank Ltd. 18,553 539,972
The Okinawa Electric Power Co., Inc. 53,678 815,243
The Pack Corp. 14,376 412,445
The Shikoku Bank Ltd. 43,197 381,144
The Shimizu Bank Ltd. 12,990 206,380
The Sumitomo Warehouse Co., Ltd. 65,434 829,865
The Tochigi Bank Ltd. 141,997 234,101
The Toho Bank Ltd. 222,259 509,717
The Towa Bank Ltd. 43,415 290,300
The Yamagata Bank Ltd. 37,324 558,614
The Yamanashi Chuo Bank Ltd. 36,085 401,812
TKC Corp. 18,018 731,009
Toa Corp. 54,472 691,765
Toagosei Co., Ltd. 156,761 1,692,138
TOC Co., Ltd. 60,894 342,117
 
24

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Tocalo Co., Ltd. 65,161 425,504
Toei Co., Ltd. 8,090 1,087,856
Toenec Corp. 8,680 238,395
Toho Co., Ltd. 12,284 243,021
Toho Holdings Co., Ltd. 61,195 1,369,032
Toho Titanium Co., Ltd. 40,412 401,608
Toho Zinc Co., Ltd. 21,432 459,137
Tokai Corp. 21,601 477,281
TOKAI Holdings Corp. 140,038 1,141,456
Token Corp. 11,219 654,076
Tokushu Tokai Paper Co., Ltd. 10,617 353,982
Tokyo Dome Corp. 109,628 1,074,319
Tokyo Energy & Systems, Inc. 24,130 200,463
Tokyo Individualized Educational Institute, Inc. 24,689 208,745
Tokyo Kiraboshi Financial Group, Inc. 32,590 502,770
Tokyo Ohka Kogyo Co., Ltd. 47,781 1,386,232
Tokyo Seimitsu Co., Ltd. 48,954 1,132,604
Tokyo Steel Manufacturing Co., Ltd. 115,662 885,242
Tokyotokeiba Co., Ltd. 20,154 600,490
Tokyu Construction Co., Ltd. 88,467 624,952
TOMONY Holdings, Inc. 179,325 568,158
Tomy Co., Ltd. 109,259 1,303,158
Tonami Holdings Co., Ltd. 7,627 396,190
Toppan Forms Co., Ltd. 49,595 399,227
Topre Corp. 59,275 940,102
Topy Industries Ltd. 20,882 422,929
Toridoll Holdings Corp. 26,295 454,335
Torii Pharmaceutical Co., Ltd. 16,110 350,317
Torishima Pump Manufacturing Co., Ltd. 26,650 247,171
Tosei Corp. 34,207 280,398
Toshiba Machine Co., Ltd. 26,971 567,118
Toshiba TEC Corp. 30,241 746,451
Tosho Co., Ltd. 19,197 522,470
Totetsu Kogyo Co., Ltd. 34,409 946,941
Towa Pharmaceutical Co., Ltd. 31,503 754,969
Toyo Construction Co., Ltd. 123,311 455,424
Toyo Corp. 26,847 222,293
Toyo Ink SC Holdings Co., Ltd. 48,666 1,013,884
Toyo Kanetsu KK 10,581 201,046
Toyo Tanso Co., Ltd. 18,851 349,675
TPR Co., Ltd. 35,099 571,217
Trancom Co., Ltd. 8,882 536,642
Transcosmos, Inc. 32,264 711,695
Trusco Nakayama Corp. 47,318 1,050,301
Trust Tech, Inc. 12,307 356,486
TSI Holdings Co., Ltd. 101,277 579,259
Tsubaki Nakashima Co., Ltd. 51,142 793,213
Tsubakimoto Chain Co. 40,769 1,224,103
Tsugami Corp. (a) 60,669 482,782
Tsukishima Kikai Co., Ltd. 43,170 520,863
Tsukui Corp. 57,771 281,472
Tsurumi Manufacturing Co., Ltd. 25,074 442,476
U-Shin Ltd. * 19,567 177,153
UACJ Corp. 36,549 580,341
Uchida Yoko Co., Ltd. 10,583 345,050
Union Tool Co. 13,063 317,627
Unipres Corp. 50,048 790,074
United Arrows Ltd. 34,945 1,160,274
United Super Markets Holdings, Inc. 67,937 583,792
Unitika Ltd. * 70,031 223,170
Unizo Holdings Co., Ltd. 35,045 599,388
V Technology Co., Ltd. 11,076 470,787
Valor Holdings Co., Ltd. 50,957 1,034,862
Valqua Ltd. 19,812 375,894
ValueCommerce Co., Ltd. 21,695 511,129
Vector, Inc. * 27,127 278,578
Vision, Inc./Tokyo Japan * 11,436 592,997
Vital KSK Holdings, Inc. 42,755 409,534
Security Number
of Shares 		Value ($)
VT Holdings Co., Ltd. 104,123 434,425
W-Scope Corp. (a) 28,722 376,964
Wacom Co., Ltd. 175,985 542,989
Wakita & Co., Ltd. 57,969 538,179
Warabeya Nichiyo Holdings Co., Ltd. 17,652 266,467
WATAMI Co., Ltd. 30,544 403,127
WDB Holdings Co., Ltd. 9,579 235,295
Weathernews, Inc. 10,130 299,492
Wellnet Corp. 21,807 202,655
World Co., Ltd. 20,850 423,433
Xebio Holdings Co., Ltd. 31,176 346,863
YA-MAN Ltd. (a) 32,917 288,924
Yahagi Construction Co., Ltd. 31,008 205,340
Yakuodo Co., Ltd. 12,542 253,786
YAMABIKO Corp. 45,139 382,065
Yamashin-Filter Corp. (a) 48,015 234,381
Yamazen Corp. 81,927 761,357
Yellow Hat Ltd. 36,052 462,873
Yodogawa Steel Works Ltd. 35,506 640,956
Yokogawa Bridge Holdings Corp. 36,501 522,427
Yokohama Reito Co., Ltd. 48,774 425,860
Yondoshi Holdings, Inc. 26,621 587,954
Yonex Co., Ltd. 46,389 275,578
Yorozu Corp. 24,055 286,910
Yoshinoya Holdings Co., Ltd. 79,068 1,306,452
Yuasa Trading Co., Ltd. 19,628 533,115
Yurtec Corp. 47,178 312,854
Yushin Precision Equipment Co., Ltd. 23,891 232,584
Zenrin Co., Ltd. 38,477 727,546
ZERIA Pharmaceutical Co., Ltd. 48,177 899,866
ZIGExN Co., Ltd. 67,665 443,102
Zojirushi Corp. 52,043 551,227
Zuken, Inc. 15,953 221,131
    403,014,750
 
Netherlands 2.2%
Accell Group N.V. 26,633 722,671
Altice Europe N.V. * 724,292 2,225,216
AMG Advanced Metallurgical Group N.V. (a) 37,112 940,017
APERAM S.A. 64,616 1,520,022
Arcadis N.V. 95,955 1,777,135
ASM International N.V. 47,608 2,778,863
B&S Group Sarl 31,511 464,211
Basic-Fit N.V * 44,843 1,454,150
BE Semiconductor Industries N.V. 90,342 2,037,614
Brunel International N.V. 27,116 404,300
Corbion N.V. 70,840 2,167,708
Eurocommercial Properties N.V. 58,767 1,531,086
Flow Traders 34,460 969,229
ForFarmers N.V. 51,014 403,048
Fugro N.V. CVA *(a) 101,108 833,756
IMCD N.V. 65,659 5,344,858
Intertrust N.V. 97,323 1,839,344
Koninklijke BAM Groep N.V. 307,033 1,298,772
Koninklijke Volkerwessels N.V. 30,506 552,748
NIBC Holding N.V. 45,275 402,609
NSI N.V. 22,297 901,934
PostNL N.V. 587,726 1,049,202
SBM Offshore N.V. 221,735 3,912,677
Sligro Food Group N.V. 41,611 1,551,051
Takeaway.com N.V. * 40,685 3,590,717
TKH Group N.V. 51,293 2,393,792
TomTom N.V. * 82,741 716,874
Vastned Retail N.V. 22,452 735,570
 
25

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Wereldhave N.V. (a) 48,500 1,181,445
Wessanen 67,420 853,471
    46,554,090
 
New Zealand 1.0%
Argosy Property Ltd. 1,033,177 888,989
Chorus Ltd. 537,450 2,024,947
EBOS Group Ltd. 109,545 1,592,374
Freightways Ltd. 191,292 1,008,772
Genesis Energy Ltd. 602,975 1,222,383
Goodman Property Trust 1,310,086 1,584,132
Heartland Group Holdings Ltd. 490,750 515,032
Infratil Ltd. 546,358 1,520,733
Kathmandu Holdings Ltd. 230,035 337,384
Mainfreight Ltd. 98,329 2,461,278
Metlifecare Ltd. 210,941 614,634
New Zealand Refining Co., Ltd. 224,700 301,730
Precinct Properties New Zealand Ltd. 1,052,453 1,111,387
Pushpay Holdings Ltd. * 223,447 552,028
Restaurant Brands New Zealand Ltd. * 42,843 250,228
Scales Corp., Ltd. 130,301 403,449
SKY Network Television Ltd. 499,192 390,478
Summerset Group Holdings Ltd. 272,444 983,863
Synlait Milk Ltd. * 120,480 696,605
Tourism Holdings Ltd. 145,151 365,220
Vector Ltd. 329,422 800,957
Vital Healthcare Property Trust 477,116 724,649
Z Energy Ltd. 453,367 1,779,075
    22,130,327
 
Norway 1.9%
Akastor A.S.A. * 190,728 261,458
Aker Solutions A.S.A. * 180,026 715,271
Atea A.S.A. * 97,982 1,349,893
Austevoll Seafood A.S.A. 112,567 1,181,126
Bakkafrost P/F 49,324 2,614,461
Borr Drilling Ltd. * 470,405 967,276
Borregaard A.S.A. 122,834 1,333,055
BW LPG Ltd. * 100,362 420,767
DNO A.S.A. 765,699 1,329,121
Elkem A.S.A. 298,204 910,921
Entra A.S.A. 132,430 1,972,740
Evry A/S 214,714 761,602
Frontline Ltd. * 94,963 753,412
Grieg Seafood A.S.A. 70,541 1,000,850
Hoegh LNG Holdings Ltd. 49,415 200,962
Kongsberg Gruppen A.S.A. 91,806 1,207,125
Nordic Semiconductor A.S.A. * 184,332 753,016
Norway Royal Salmon A.S.A. (a) 20,896 473,121
Norwegian Air Shuttle A.S.A. *(a) 48,879 179,686
Norwegian Finans Holding A.S.A. * 197,320 1,505,752
Ocean Yield A.S.A. 57,916 391,014
PGS A.S.A. * 386,221 646,147
Sbanken A.S.A. 101,164 820,522
Scatec Solar A.S.A. 102,364 992,213
Seadrill Ltd. *(a) 80,353 336,328
SpareBank 1 Oestlandet 43,915 420,902
SpareBank 1 SMN 161,875 1,738,255
SpareBank 1 SR-Bank A.S.A. 223,584 2,605,234
Stolt-Nielsen Ltd. 30,835 348,727
Storebrand A.S.A. 573,790 4,153,115
TGS Nopec Geophysical Co. A.S.A. 126,553 3,170,421
Tomra Systems A.S.A. 134,904 4,056,174
Veidekke A.S.A. 131,120 1,252,221
Security Number
of Shares 		Value ($)
Wallenius Wilhelmsen A.S.A. 150,375 421,213
XXL A.S.A. (a) 124,268 295,844
    41,539,945
 
Poland 0.8%
Alior Bank S.A. * 112,304 1,543,557
AmRest Holdings SE * 90,020 897,494
Asseco Poland S.A. 91,136 1,212,284
Bank Handlowy w Warszawie S.A. 39,705 555,026
Bank Millennium S.A. * 742,302 1,849,209
Budimex S.A. 13,993 488,829
CCC S.A. 34,893 1,423,314
Ciech S.A. 30,643 340,208
Enea S.A. * 268,141 587,020
Energa S.A. * 259,853 523,555
Eurocash S.A. 106,056 533,103
Grupa Azoty S.A. 62,684 650,410
Jastrzebska Spolka Weglowa S.A. * 62,497 816,688
Kernel Holding S.A. 64,735 783,584
KRUK S.A. * 19,920 833,295
Lubelski Wegiel Bogdanka S.A. * 14,613 134,659
Orange Polska S.A. * 782,260 1,048,701
PKP Cargo S.A. * 36,169 404,383
PLAY Communications S.A. 130,340 889,619
Tauron Polska Energia S.A. * 1,397,941 577,510
Warsaw Stock Exchange 33,424 347,591
    16,440,039
 
Portugal 0.5%
Altri, SGPS, S.A. 88,744 600,274
Banco Comercial Portugues S.A. * 9,501,465 2,668,166
Corticeira Amorim SGPS S.A. 44,500 510,762
CTT-Correios de Portugal S.A. 193,892 501,268
Mota-Engil, SGPS, S.A. * 103,124 243,393
NOS, SGPS S.A. 277,276 1,747,296
REN - Redes Energeticas Nacionais, SGPS, S.A. 468,411 1,271,006
Semapa-Sociedade de Investimento e Gestao 30,130 417,678
Sonae, SGPS, S.A. 1,207,836 1,197,897
The Navigator Co. S.A. 309,994 1,105,414
    10,263,154
 
Republic of Korea 4.8%
Able C&C Co., Ltd. * 28,826 266,257
Advanced Process Systems Corp. 17,531 348,883
Aekyung Industrial Co., Ltd. 8,320 301,809
Ahnlab, Inc. 6,522 344,474
AK Holdings, Inc. 6,280 249,692
Amicogen, Inc. * 22,767 518,084
Ananti, Inc. * 48,817 600,528
Anterogen Co., Ltd. * 5,564 256,031
Aprogen pharmaceuticals, Inc. * 91,859 142,312
Asiana Airlines, Inc. * 121,249 610,877
ATGen Co., Ltd. * 21,212 247,583
BH Co., Ltd. * 26,423 390,499
Binex Co., Ltd. * 29,655 262,709
Binggrae Co., Ltd. 7,027 427,792
Bukwang Pharmaceutical Co., Ltd. 46,826 725,451
Cafe24 Corp. * 7,941 421,422
Caregen Co., Ltd. (b) 4,634 273,861
Cell Biotech Co., Ltd. 6,762 118,388
Celltrion Pharm, Inc. * 22,648 971,797
Cellumed Co., Ltd. * 23,365 161,077
Chong Kun Dang Pharmaceutical Corp. 7,765 600,518
Chongkundang Holdings Corp. 3,622 354,323
 
26

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
CJ CGV Co., Ltd. 15,057 447,576
CJ Hello Co., Ltd. 32,776 200,636
CMG Pharmaceutical Co., Ltd. * 94,626 297,966
Com2uSCorp 11,378 933,437
COSMAX NBT, Inc. 13,854 139,599
Cosmax, Inc. 7,773 731,024
CrystalGenomics, Inc. * 42,940 560,683
Cuckoo Holdings Co., Ltd. 1,438 158,785
Cuckoo Homesys Co., Ltd. 6,793 279,500
Dae Han Flour Mills Co., Ltd. 1,229 217,750
Dae Hwa Pharmaceutical Co., Ltd. 11,978 164,950
Daea TI Co., Ltd. 79,998 372,818
Daeduck Electronics Co. 61,318 594,696
Daekyo Co., Ltd. 49,838 251,931
Daesang Corp. 21,691 455,349
Daewoong Co., Ltd. 24,823 376,232
Daewoong Pharmaceutical Co., Ltd. 5,080 652,649
Daishin Securities Co., Ltd. 48,000 536,065
Daou Technology, Inc. 28,367 489,497
Dawonsys Co., Ltd. 25,097 295,036
DB HiTek Co., Ltd. 39,109 479,462
Dentium Co., Ltd. 7,864 453,654
DIO Corp. * 12,752 389,231
Dong-A Socio Holdings Co., Ltd. 3,700 301,058
Dong-A ST Co., Ltd. 5,507 455,025
Dongjin Semichem Co., Ltd. 36,489 358,486
DongKook Pharmaceutical Co., Ltd. 7,370 361,414
Dongkuk Steel Mill Co., Ltd. * 72,092 385,007
Dongwon F&B Co., Ltd. 1,263 284,225
Dongwon Industries Co., Ltd. 1,731 365,561
DoubleUGames Co., Ltd. 11,961 678,952
Duk San Neolux Co., Ltd. * 13,432 162,416
Duzone Bizon Co., Ltd. 22,776 1,254,602
Ecopro Co., Ltd. * 21,698 462,784
Enzychem Lifesciences Corp. * 7,321 473,354
Eo Technics Co., Ltd. 10,140 494,696
Esmo Corp. * 99,033 453,212
F&F Co., Ltd. 8,384 558,276
Feelux Co., Ltd. * 50,569 270,064
Foosung Co., Ltd. * 61,968 374,129
G-treeBNT Co., Ltd. * 24,402 609,589
Gamevil, Inc. * 6,036 217,436
GemVax & Kael Co., Ltd. * 38,947 529,802
Genexine Co., Ltd. * 14,157 777,452
Grand Korea Leisure Co., Ltd. 20,888 352,547
Green Cross Cell Corp. 7,115 268,553
Green Cross Corp. 6,990 733,689
Green Cross Holdings Corp. 31,093 558,729
GS Home Shopping, Inc. 3,930 547,804
Halla Holdings Corp. 8,456 284,020
Hana Tour Service, Inc. 9,775 483,456
Hanall Biopharma Co., Ltd. * 44,974 1,036,641
Hancom, Inc. 20,648 213,259
Handsome Co., Ltd. 16,583 570,915
Hanil Cement Co., Ltd. 2,863 318,539
Hanjin Kal Corp. 35,906 1,285,911
Hanjin Transportation Co., Ltd. 14,525 566,535
Hankook Shell Oil Co., Ltd. 1,002 267,980
Hankook Technology Group Co., Ltd. 25,093 340,290
Hansae Co., Ltd. 20,903 392,293
Hansol Chemical Co., Ltd. 9,761 677,016
Hansol Paper Co., Ltd. 21,601 250,310
Hanwha General Insurance Co., Ltd. 88,058 301,685
Hanwha Investment & Securities Co., Ltd. * 89,796 166,261
Harim Holdings Co., Ltd. 40,113 387,354
HLB Life Science Co., Ltd. * 41,449 535,993
HS Industries Co., Ltd. 54,220 448,457
Huchems Fine Chemical Corp. 26,167 452,633
Hugel, Inc. * 2,714 910,896
Security Number
of Shares 		Value ($)
Huons Co., Ltd. 6,122 286,848
Huons Global Co., Ltd. 6,433 196,355
Hyosung Advanced Materials Corp. * 3,860 356,537
Hyosung Chemical Corp. 2,479 307,039
Hyosung Heavy Industries Corp. * 7,444 208,462
Hyundai Corp. 9,359 167,785
Hyundai Electric & Energy System Co., Ltd. * 14,847 228,770
Hyundai Elevator Co., Ltd. * 19,605 1,318,633
Hyundai Greenfood Co., Ltd. 61,000 622,344
Hyundai Home Shopping Network Corp. 6,798 521,738
Hyundai Livart Furniture Co., Ltd. 10,367 158,434
Hyundai Merchant Marine Co., Ltd. * 340,142 931,113
Hyundai Rotem Co., Ltd. * 55,378 892,819
i-SENS, Inc. 10,808 220,534
Iljin Materials Co., Ltd. * 18,481 539,268
Ilyang Pharmaceutical Co., Ltd. * 15,839 336,491
iMarketKorea, Inc. 30,942 270,213
InBody Co., Ltd. 14,272 308,594
Innocean Worldwide, Inc. 15,111 879,329
Innox Advanced Materials Co., Ltd. * 7,426 308,040
Inscobee, Inc. * 100,940 278,859
Insun ENT Co., Ltd. * 39,412 281,302
iNtRON Biotechnology, Inc. * 25,756 366,583
IS Dongseo Co., Ltd. 20,376 603,119
JB Financial Group Co., Ltd. 178,452 836,143
Jeil Pharmaceutical Co., Ltd. 7,984 239,004
Jenax, Inc. * 20,080 277,367
Jusung Engineering Co., Ltd. 37,251 193,621
JW Holdings Corp. 40,673 207,651
JW Pharmaceutical Corp. 13,849 365,151
JYP Entertainment Corp. 33,422 715,644
KEPCO Engineering & Construction Co., Inc. 14,246 255,995
KISWIRE Ltd. 9,102 173,495
KIWOOM Securities Co., Ltd. 13,093 866,343
Koh Young Technology, Inc. 15,186 1,157,854
Kolmar Korea Co., Ltd. 17,869 949,792
Kolmar Korea Holdings Co., Ltd. 7,400 190,763
Kolon Corp. 8,997 134,098
Kolon Industries, Inc. 20,388 697,633
Kolon Life Science, Inc. * 8,577 157,006
Komipharm International Co., Ltd. * 40,320 732,999
Korea Asset In Trust Co., Ltd. 89,005 296,708
Korea Electric Terminal Co., Ltd. 7,992 432,181
Korea Line Corp. * 13,939 281,495
Korea PetroChemical Ind Co., Ltd. 4,371 493,660
Korea Real Estate Investment & Trust Co., Ltd. 199,176 388,852
Korean Reinsurance Co. 106,735 752,854
Kumho Industrial Co., Ltd. 36,412 421,938
Kumho Tire Co., Inc. * 149,732 481,546
Kwang Dong Pharmaceutical Co., Ltd. 43,565 251,315
L&F Co., Ltd. 16,232 354,381
LEENO Industrial, Inc. 10,042 497,504
LegoChem Biosciences, Inc. * 8,279 363,584
LF Corp. 21,003 382,706
LG Hausys Ltd. 6,928 321,705
LG Innotek Co., Ltd. 18,127 1,441,453
LG International Corp. 30,086 397,896
LIG Nex1 Co., Ltd. 16,881 474,154
Lock&Lock Co., Ltd. 19,634 251,422
Lotte Confectionery Co., Ltd. 1,624 218,188
Lotte Food Co., Ltd. 552 247,981
LOTTE Himart Co., Ltd. 14,045 505,946
LS Industrial Systems Co., Ltd. 19,514 793,898
Lutronic Corp. * 31,025 220,137
Maeil Dairies Co., Ltd. 3,914 295,464
Medipost Co., Ltd. * 16,170 450,110
 
27

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Meritz Financial Group, Inc. 33,370 393,693
Meritz Fire & Marine Insurance Co., Ltd. 69,426 1,273,791
Meritz Securities Co., Ltd. 352,633 1,391,700
Mezzion Pharma Co., Ltd. * 5,353 504,330
Mirae Asset Life Insurance Co., Ltd. 106,029 413,112
Modetour Network, Inc. 15,235 262,893
Muhak Co., Ltd. 16,182 144,033
Namhae Chemical Corp. 22,589 186,076
Namyang Dairy Products Co., Ltd. 745 357,205
Naturecell Co., Ltd. * 46,386 412,874
NEPES Corp. 18,736 404,329
Nexen Tire Corp. 40,335 335,984
NICE Holdings Co., Ltd. 23,278 418,296
NICE Information Service Co., Ltd. 42,859 521,837
NS Shopping Co., Ltd. 18,871 201,244
Orange Life Insurance Ltd. 40,965 1,248,660
Orion Holdings Corp. 23,938 330,658
Oscotec, Inc. * 25,841 521,854
Osstem Implant Co., Ltd. * 12,775 766,993
Pan Ocean Co., Ltd. * 223,322 812,915
Partron Co., Ltd. 47,380 658,442
Pearl Abyss Corp. * 7,339 1,218,339
Peptron, Inc. * 16,862 287,429
Pharmicell Co., Ltd. * 73,624 563,818
Poongsan Corp. 24,992 518,349
Posco ICT Co., Ltd. 55,936 252,696
S&T Motiv Co., Ltd. 7,906 276,169
Sam Chun Dang Pharm Co., Ltd. 14,850 495,042
Samchully Co., Ltd. 3,480 268,839
Samwha Capacitor Co., Ltd. 7,994 353,752
Samyang Corp. 5,968 260,088
Samyang Holdings Corp. 6,210 377,533
Sangsangin Co., Ltd. * 40,733 776,420
Seah Besteel Corp. 12,000 172,810
Sebang Global Battery Co., Ltd. 9,699 339,208
Seegene, Inc. * 15,942 391,556
Seobu T&D * 30,782 218,671
Seoul Semiconductor Co., Ltd. 47,748 745,749
SFA Engineering Corp. 19,824 662,520
Shinsegae International, Inc. 2,978 667,668
Silicon Works Co., Ltd. 10,926 394,048
SK Chemicals Co., Ltd. 11,978 572,297
SK Discovery Co., Ltd. 13,864 283,473
SK Gas Ltd. 4,668 312,010
SK Materials Co., Ltd. 5,285 675,880
SK Securities Co., Ltd. 465,679 263,946
SKCKOLONPI, Inc. 15,970 369,446
SL Corp. 21,736 407,014
SM Entertainment Co., Ltd. * 20,945 752,747
Songwon Industrial Co., Ltd. 26,099 473,372
Soulbrain Co., Ltd. 12,351 473,961
SPC SAMLIP Co., Ltd. 2,628 214,053
Ssangyong Motor Co. * 44,682 152,142
ST Pharm Co., Ltd. 11,816 176,610
STCUBE * 29,292 432,899
Studio Dragon Corp. * 7,892 489,067
Sungwoo Hitech Co., Ltd. 50,000 164,791
Taekwang Industrial Co., Ltd. 613 680,482
Taeyoung Engineering & Construction Co., Ltd. 50,584 594,656
Taihan Electric Wire Co., Ltd. * 292,256 194,608
Telcon RF Pharmaceutical, Inc. * 79,240 460,442
TES Co., Ltd. 17,685 239,087
Tongyang, Inc. 308,818 442,132
Toptec Co., Ltd. 19,192 142,623
Vieworks Co., Ltd. 8,709 231,089
Webzen, Inc. * 19,969 265,773
Wemade Co., Ltd. 11,260 325,726
WONIK IPS Co., Ltd. 42,091 781,099
Security Number
of Shares 		Value ($)
YG Entertainment, Inc. 13,064 335,678
Young Poong Corp. 674 398,435
Youngone Corp. 36,333 1,177,642
Youngone Holdings Co., Ltd. 6,394 322,143
Yuanta Securities Korea Co., Ltd. * 91,845 233,681
Yungjin Pharmaceutical Co., Ltd. * 95,883 442,017
    104,291,689
 
Singapore 1.3%
Accordia Golf Trust 946,896 405,906
AIMS APAC REIT 693,435 700,312
Ascendas Hospitality Trust 1,059,553 692,845
Ascendas India Trust 990,545 935,597
Ascott Residence Trust 1,356,169 1,221,818
Best World International Ltd. (b) 324,802 320,944
Boustead Singapore Ltd. 380,690 217,126
Bukit Sembawang Estates Ltd. 236,560 959,062
Cache Logistics Trust 1,267,804 667,823
CapitaLand Retail China Trust 704,689 767,998
CDL Hospitality Trusts 947,784 1,108,680
China Hongxing Sports Ltd. *(b) 884,000 —
ESR-REIT 2,635,809 1,024,563
Far East Hospitality Trust 1,112,560 513,296
First Real Estate Investment Trust 616,129 447,654
First Resources Ltd. 627,573 702,192
Frasers Centrepoint Trust 676,784 1,189,972
Frasers Commercial Trust 897,196 977,799
Frasers Hospitality Trust 1,018,245 525,269
Frasers Logistics & Industrial Trust 1,815,699 1,503,903
GuocoLand Ltd. 364,267 518,737
Keppel DC REIT 1,014,957 1,150,385
Keppel Infrastructure Trust 2,761,366 932,928
Lippo Malls Indonesia Retail Trust 2,537,539 387,171
Manulife US Real Estate Investment Trust 1,408,285 1,204,084
NetLink NBN Trust 3,655,129 2,204,205
OUE Hospitality Trust 1,314,084 644,463
OUE Ltd. 325,116 349,600
Parkway Life Real Estate Investment Trust 475,992 1,034,051
Raffles Medical Group Ltd. 1,159,572 867,773
Sabana Shari'ah Compliant Industrial Real Estate Investment Trust 1,331,757 406,392
Sheng Siong Group Ltd. 526,946 417,315
Silverlake Axis Ltd. 928,054 357,372
Soilbuild Business Space REIT 1,098,968 475,087
SPH REIT 721,110 544,886
Starhill Global REIT 1,784,379 952,896
Thomson Medical Group Ltd. 7,770,325 310,508
Yoma Strategic Holdings Ltd. 1,448,210 347,230
    27,987,842
 
Spain 1.8%
Aedas Homes SAU * 27,365 683,070
Almirall S.A. 74,981 1,288,420
Applus Services S.A. 179,750 2,283,471
Atresmedia Corp de Medios de Comunicaion S.A. 101,306 493,331
Bolsas y Mercados Espanoles SHMSF S.A. 93,289 2,442,980
Cia de Distribucion Integral Logista Holdings S.A. 78,891 1,739,782
Cie Automotive S.A. 65,494 1,580,817
Construcciones y Auxiliar de Ferrocarriles S.A. 22,672 956,263
Distribuidora Internacional de Alimentacion S.A. (a) 566,562 372,496
Ebro Foods S.A. 96,342 2,020,491
Ence Energia y Celulosa S.A. 155,155 648,364
 
28

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Euskaltel S.A. 118,273 997,707
Faes Farma S.A. 338,604 1,477,221
Fluidra S.A. * 78,970 973,283
Gestamp Automocion S.A. 190,136 1,066,806
Global Dominion Access S.A. * 141,220 701,864
Indra Sistemas S.A. * 149,058 1,566,349
Lar Espana Real Estate Socimi S.A. 83,200 635,090
Let's GOWEX S.A. *(b) 5,361 —
Liberbank S.A. 1,661,007 756,296
Masmovil Ibercom S.A. * 95,533 2,120,628
Mediaset Espana Comunicacion S.A. 225,423 1,617,729
Melia Hotels International S.A. 135,167 1,229,840
Metrovacesa S.A. 54,621 651,276
Neinor Homes S.A. * 97,368 1,191,352
Pharma Mar S.A. * 207,657 556,292
Promotora de Informaciones S.A., Class A * 515,001 849,359
Prosegur Cash S.A. 484,320 907,779
Prosegur Cia de Seguridad S.A. 323,975 1,378,380
Sacyr S.A. 418,413 952,100
Tecnicas Reunidas S.A. (a) 37,125 930,003
Unicaja Banco S.A. 1,044,667 1,016,281
Viscofan S.A. 47,756 2,474,586
    38,559,706
 
Sweden 4.6%
AAK AB 210,080 3,617,883
AF Poyry AB 108,317 2,267,132
Arjo AB, B Shares 276,586 1,135,150
Atrium Ljungberg AB, B Shares 57,830 996,524
Attendo AB 129,064 680,769
Avanza Bank Holding AB 146,990 1,062,593
Axfood AB 127,862 2,453,201
Beijer Ref AB 77,527 1,710,657
Betsson AB * 164,520 1,037,196
Bilia AB, A Shares 95,414 803,538
BillerudKorsnas AB 216,207 2,587,523
Bonava AB, B Shares 105,107 1,249,065
Bravida Holding AB 244,310 1,994,587
Bure Equity AB 62,691 1,028,909
Catena AB 25,276 695,826
Clas Ohlson AB, B Shares (a) 45,854 404,472
Cloetta AB, B Shares 253,804 796,838
Collector AB * 52,526 275,677
Concentric AB 48,548 649,878
Dometic Group AB 369,330 3,358,322
Evolution Gaming Group AB 153,079 2,904,853
Fabege AB 331,149 4,956,518
Getinge AB, B Shares 273,575 3,700,960
Haldex AB 49,436 331,402
Hansa Biopharma AB *(a) 40,882 714,357
Hembla AB * 48,212 868,274
Hemfosa Fastigheter AB 206,925 1,904,618
Hexpol AB 323,902 2,343,195
Holmen AB, B Shares 123,836 2,398,077
Hufvudstaden AB, A Shares 139,895 2,282,782
Indutrade AB 115,063 3,348,931
Intrum AB (a) 90,424 2,077,894
Investment AB Oresund 43,842 576,747
JM AB 91,341 1,824,478
Klovern AB, B Shares 601,352 902,293
Kungsleden AB 232,506 1,794,390
Lifco AB, B Shares 57,276 2,777,981
Lindab International AB 83,827 864,060
Loomis AB, B Shares 88,170 2,845,987
Mekonomen AB * 51,445 383,248
Modern Times Group MTG AB, B Shares * 80,292 928,860
Munters Group AB * 65,547 295,599
Security Number
of Shares 		Value ($)
Mycronic AB 83,280 1,004,554
NCC AB, B Shares 117,482 1,837,431
NetEnt AB * 458,759 712,947
Nobia AB 137,056 738,765
Nolato AB, B Shares 23,529 1,117,956
Nordic Entertainment Group AB, Class B 80,292 1,889,779
Nyfosa AB * 199,382 1,256,979
Oriflame Holding AG * 28,707 671,736
Pandox AB 97,604 1,599,864
Peab AB 240,043 1,889,129
Ratos AB, B Shares 250,987 679,868
Resurs Holding AB 133,171 773,794
Sagax AB, Class D 116,885 429,851
SAS AB * 334,774 467,485
Scandic Hotels Group AB 85,552 687,674
SkiStar AB 48,683 593,371
SSAB AB, A Shares 293,777 901,037
SSAB AB, B Shares 722,996 1,989,584
Sweco AB, B Shares 81,040 2,081,093
Thule Group AB 126,710 2,881,104
Vitrolife AB 78,463 1,668,654
Wallenstam AB, B Shares 199,794 2,017,421
Wihlborgs Fastigheter AB 162,437 2,355,347
    100,076,667
 
Switzerland 4.1%
Allreal Holding AG * 17,689 2,877,089
Alpiq Holding AG * 4,277 297,649
ALSO Holding AG * 3,353 433,355
ams AG * 95,828 3,166,797
APG SGA S.A. 1,255 326,274
Arbonia AG * 53,064 614,073
Aryzta AG * 1,169,022 1,486,483
Ascom Holding AG 43,117 551,260
Autoneum Holding AG 3,331 414,285
Bachem Holding AG, Class B 6,913 861,848
Basilea Pharmaceutica AG * 13,247 531,013
Belimo Holding AG 562 2,933,340
Bell Food Group AG * 2,426 711,508
Berner Kantonalbank AG 5,481 1,236,951
BKW AG 21,834 1,437,004
Bobst Group S.A. 9,614 602,159
Bossard Holding AG, Class A 2,958 435,826
Bucher Industries AG 7,886 2,450,826
Burckhardt Compression Holding AG 3,717 973,733
Cembra Money Bank AG 34,703 3,101,655
Comet Holding AG (a) 9,930 938,357
Conzzeta AG 1,578 1,300,554
COSMO Pharmaceuticals N.V. * 8,983 871,642
Daetwyler Holding AG 9,152 1,264,729
dormakaba Holding AG * 3,746 2,580,880
EFG International AG * 89,498 589,031
Emmi AG 2,390 2,195,516
Forbo Holding AG 1,405 2,262,862
Galenica AG * 58,642 2,812,437
GAM Holding AG * 198,482 816,147
Hiag Immobilien Holding AG 3,517 466,789
Huber & Suhner AG 17,726 1,358,726
Idorsia Ltd. * 108,035 2,395,169
Implenia AG 18,724 545,050
Inficon Holding AG 2,299 1,295,952
Interroll Holding AG 672 1,419,695
Intershop Holding AG 1,494 742,655
Kardex AG 7,174 1,102,650
Komax Holding AG 4,574 944,949
Kudelski S.A. *(a) 50,881 344,484
Landis & Gyr Group AG * 30,515 2,197,954
LEM Holding S.A. 587 772,668
 
29

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Leonteq AG *(a) 12,523 454,680
Liechtensteinische Landesbank AG 12,816 824,373
Meyer Burger Technology AG *(a) 753,322 465,092
Mobimo Holding AG 8,377 2,007,115
Panalpina Welttransport Holding AG * 15,981 3,384,156
Rieter Holding AG 4,344 599,009
Schmolz & Bickenbach AG * 477,022 217,680
Schweiter Technologies AG 1,118 1,015,909
SFS Group AG 21,369 1,693,204
Siegfried Holding AG * 5,292 1,886,148
SIG Combibloc Group AG * 168,339 1,723,807
St. Galler Kantonalbank AG 3,241 1,438,690
Sunrise Communications Group AG * 41,500 2,869,538
Swissquote Group Holding S.A. 9,986 357,405
Tecan Group AG 14,338 3,423,957
u-blox Holding AG * 8,497 625,121
Valiant Holding AG 19,376 2,061,174
Valora Holding AG * 3,925 987,250
VAT Group AG * 31,723 3,410,889
Vetropack Holding AG 278 581,787
Vontobel Holding AG 34,156 1,803,135
VP Bank AG 3,385 529,027
VZ Holding AG 3,664 958,027
Ypsomed Holding AG *(a) 4,518 546,194
Zehnder Group AG 11,431 381,280
    88,906,671
 
United Kingdom 14.0%
888 Holdings plc 338,346 560,357
AA plc 761,987 523,423
Acacia Mining plc * 179,702 356,505
AG Barr plc 102,518 1,222,361
Aggreko plc 300,038 2,928,532
Amigo Holdings plc (a) 180,499 564,202
AO World plc *(a) 360,312 505,909
Ascential plc 484,035 2,340,258
Assura plc 2,912,497 2,353,054
Avast plc 477,982 1,861,566
Bakkavor Group plc 178,887 272,367
Balfour Beatty plc 853,175 2,555,012
Bank of Cyprus Holdings plc * 414,515 645,757
Bank of Georgia Group plc 46,485 960,871
BBA Aviation plc 1,274,587 4,183,298
BCA Marketplace plc 952,538 2,173,048
Beazley plc 646,548 4,563,490
Big Yellow Group plc 188,295 2,415,989
Bodycote plc 229,773 2,253,134
Bovis Homes Group plc 164,619 2,030,248
Brewin Dolphin Holdings plc 335,835 1,283,404
Britvic plc 326,760 3,665,449
BTG plc * 478,663 5,028,562
Cairn Energy plc * 712,344 1,420,380
Capita plc * 2,029,823 2,869,233
Card Factory plc 381,133 909,840
Centamin plc 1,414,098 1,583,777
Charter Court Financial Services Group plc 202,127 836,889
Chemring Group plc 345,371 705,195
Chesnara plc 180,450 834,702
Close Brothers Group plc 185,938 3,224,742
Coats Group plc 1,732,171 1,696,368
Computacenter plc 89,937 1,418,091
Countryside Properties plc 542,558 2,069,300
Cranswick plc 63,626 2,152,412
Crest Nicholson Holdings plc 298,867 1,380,953
Daejan Holdings plc 6,054 419,675
Daily Mail & General Trust plc N.V., Class A 171,532 1,610,682
De La Rue plc 136,138 525,060
Dechra Pharmaceuticals plc 123,147 4,234,251
Security Number
of Shares 		Value ($)
Devro plc 213,191 583,092
Dignity plc 61,593 535,271
Diploma plc 137,961 2,583,946
Dixons Carphone plc 1,229,782 1,792,595
Domino's Pizza Group plc 565,135 1,674,608
Drax Group plc 485,336 1,803,343
Dunelm Group plc 118,302 1,327,060
EI Group plc * 546,347 1,455,734
Electrocomponents plc 546,428 4,186,027
Elementis plc 716,938 1,306,647
Entertainment One Ltd. 437,826 2,411,523
Equiniti Group plc 394,235 1,093,166
Essentra plc 327,123 1,669,014
Ferrexpo plc 351,650 1,020,735
Firstgroup plc * 1,501,461 2,181,985
Funding Circle Holdings plc * 178,604 529,014
Galliford Try plc 136,469 1,075,034
Games Workshop Group plc 37,462 2,106,827
Genus plc 80,419 2,696,179
Georgia Capital plc * 41,953 511,326
Gocompare.Com Group plc 485,355 512,639
Grafton Group plc 268,367 2,876,814
Grainger plc 735,622 2,329,071
Great Portland Estates plc 336,338 3,047,987
Greencore Group plc 545,740 1,420,412
Greene King plc 389,874 3,136,097
Greggs plc 124,209 3,403,462
Halfords Group plc 240,062 681,397
Hansteen Holdings plc 498,108 584,496
Hastings Group Holdings plc 387,727 880,133
Hays plc 1,654,799 3,095,191
Helical plc 117,955 538,930
Hill & Smith Holdings plc 98,577 1,498,412
Hochschild Mining plc 322,247 629,548
HomeServe plc 340,885 5,181,596
Hunting plc 173,823 1,112,959
Ibstock plc 482,530 1,447,470
IG Group Holdings plc 443,044 3,055,634
Indivior plc * 1,137,429 656,022
Inmarsat plc 565,763 3,894,885
IntegraFin Holdings plc 247,590 1,214,391
Intermediate Capital Group plc 347,188 5,750,008
International Personal Finance plc 280,718 563,277
Intu Properties plc (a) 1,088,815 1,272,161
ITE Group plc 881,177 870,738
IWG plc 829,133 3,533,277
J.D. Wetherspoon plc 84,542 1,418,270
John Laing Group plc 597,355 2,927,299
Jupiter Fund Management plc 525,597 2,437,862
Just Group plc * 1,142,346 689,094
KCOM Group plc 641,356 784,114
Keller Group plc 91,520 801,695
Kier Group plc (a) 192,910 676,426
Lancashire Holdings Ltd. 246,905 2,189,285
LondonMetric Property plc 794,512 2,044,865
Lookers plc 400,491 433,605
Man Group plc 1,858,163 3,425,919
Marshalls plc 247,419 2,012,972
Marston's plc 761,058 1,027,343
McCarthy & Stone plc 644,551 1,054,485
Metro Bank plc *(a) 112,566 969,737
Mitchells & Butlers plc * 275,810 962,938
Mitie Group plc 461,873 863,903
Moneysupermarket.com Group plc 653,299 3,013,710
Morgan Advanced Materials plc 346,323 1,079,041
N Brown Group plc 181,553 331,803
National Express Group plc 517,172 2,589,122
NCC Group plc 328,335 685,308
NewRiver REIT plc (a) 360,747 954,839
 
30

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Northgate plc 180,535 738,388
OneSavings Bank plc 298,825 1,514,089
Pagegroup plc 383,376 2,459,524
Paragon Banking Group plc 314,789 1,725,113
Petra Diamonds Ltd. * 1,025,638 283,880
Petrofac Ltd. 322,149 1,681,397
Pets at Home Group plc 579,659 1,343,577
Playtech plc 385,254 1,968,032
Plus500 Ltd. 134,927 1,074,452
Polypipe Group plc 235,544 1,269,457
Premier Foods plc * 890,612 398,497
Premier Oil plc * 1,022,101 1,014,373
Primary Health Properties plc 1,372,590 2,366,657
Provident Financial plc 312,651 1,781,963
PZ Cussons plc 222,220 568,575
QinetiQ Group plc 710,234 2,608,551
Rank Group plc 277,609 532,545
Rathbone Brothers plc 66,906 1,808,842
RDI REIT plc 317,123 430,079
Redrow plc 278,876 1,915,649
Renewi plc 934,486 397,516
Rhi Magnesita N.V. 44,421 2,680,716
Rotork plc 1,065,442 3,860,788
RPS Group plc 301,385 682,239
Safestore Holdings plc 248,345 1,986,074
Saga plc 1,408,615 755,618
Sanne Group plc 169,336 1,472,674
Savills plc 164,098 1,751,842
Schroder Real Estate Investment Trust Ltd. 669,290 483,367
Senior plc 527,003 1,527,739
Serco Group plc * 1,352,405 2,263,670
Shaftesbury plc 284,324 2,949,319
SIG plc 736,765 1,203,490
Sirius Minerals plc *(a) 6,483,249 1,307,438
Soco International plc 316,118 262,967
Softcat plc 151,073 1,731,801
Sophos Group plc 417,533 2,196,603
Spectris plc 144,116 4,508,399
Spire Healthcare Group plc 349,919 539,389
Sports Direct International plc * 236,689 857,380
SSP Group plc 533,337 4,503,860
ST Modwen Properties plc 214,268 1,174,776
Stagecoach Group plc 546,019 858,188
Stobart Group Ltd. 407,054 612,583
Superdry plc 86,097 501,347
Synthomer plc 328,236 1,518,311
TalkTalk Telecom Group plc (a) 820,140 1,206,333
TBC Bank Group plc 45,376 931,084
Ted Baker plc 33,984 584,676
Telecom Plus plc 71,108 1,331,820
The Go-Ahead Group plc 53,946 1,270,799
The Restaurant Group plc 595,002 978,672
The Unite Group plc 319,074 3,818,517
Thomas Cook Group plc *(a) 1,686,470 367,627
TP ICAP plc 711,786 2,463,533
Tritax Big Box REIT plc 2,102,073 3,926,489
Tullow Oil plc 1,713,714 4,318,850
UDG Healthcare plc 306,148 2,747,387
Ultra Electronics Holdings plc 85,035 1,661,261
Vectura Group plc * 814,167 813,244
Vesuvius plc 258,606 1,627,779
Victrex plc 99,775 2,498,780
WH Smith plc 128,888 3,187,277
William Hill plc 1,067,982 1,804,426
Security Number
of Shares 		Value ($)
Wizz Air Holdings plc * 44,051 1,740,056
Workspace Group plc 162,689 1,808,569
    301,401,027
Total Common Stock
(Cost $2,234,720,378)   2,127,473,160

Preferred Stock 0.3% of net assets
 
Germany 0.2%
Draegerwerk AG & Co. KGaA 11,971 645,117
Jungheinrich AG 59,537 1,675,877
Schaeffler AG 91,910 673,718
Sixt SE 20,279 1,412,369
    4,407,081
 
Italy 0.0%
Danieli & C Officine Meccaniche S.p.A. - RSP 48,920 595,293
 
Republic of Korea 0.0%
Daishin Securities Co., Ltd. 37,880 291,042
 
Sweden 0.1%
Hemfosa Fastigheter AB 12,810 252,372
Klovern AB 21,988 775,120
    1,027,492
Total Preferred Stock
(Cost $7,226,862)   6,320,908

Rights 0.0% of net assets
 
Australia 0.0%
Freedom Foods Group Ltd.
expires 06/11/19 *(b) 		6,514 2,076
 
Singapore 0.0%
Frasers Centrepoint Trust
expires 06/10/19 *(b) 		20,585 1,047
 
Spain 0.0%
Almirall S.A. *(b) 73,564 17,082
Total Rights
(Cost $16,743)   20,205

Warrants 0.0% of net assets
 
Singapore 0.0%
Ezion Holdings Ltd.
expires 04/16/23 *(b) 		802,298 —
Total Warrants
(Cost $—)   —

 
31

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Other Investment Companies 3.5% of net assets
 
Switzerland 0.2%
BB Biotech AG 67,414 4,456,958
HBM Healthcare Investments AG, Class A * 7,662 1,384,850
    5,841,808
 
United Kingdom 0.1%
F&C Commercial Property Trust Ltd. 618,552 944,903
Picton Property Income Ltd. 634,577 766,228
UK Commercial Property REIT Ltd. 792,642 913,128
    2,624,259
 
United States 3.2%
Money Market Fund 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class 2.32% (c) 2,879,681 2,879,681
Securities Lending Collateral 3.1%
Wells Fargo Government Money Market Fund, Select Class 2.30% (c) 65,689,816 65,689,816
    68,569,497
Total Other Investment Companies
(Cost $76,348,318)   77,035,564
    
  Number of
Contracts 		Notional
Amount
($) 		Current Value/
Unrealized
Depreciation
($)
Futures Contracts  
Long  
MSCI EAFE Index, expires 06/21/19 124 11,270,980 (148,315)
* Non-income producing security.
(a) All or a portion of this security is on loan. Securities on loan were valued at $61,327,637.
(b) Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees.
(c) The rate shown is the 7-day yield.
   
CVA – Dutch Certificate
REIT – Real Estate Investment Trust
RSP – Risparmio (Convertible Savings Shares)
 
The following is a summary of the inputs used to value the fund’s investments as of May 31, 2019:
Description Quoted Prices in
Active Markets for
Identical Assets
(Level 1) 		Other Significant
Observable Inputs
(Level 2) 		Significant
Unobservable Inputs
(Level 3) 		Total  
Assets          
Common Stock1 $1,783,156,097 $— $— $1,783,156,097  
Australia 137,598,170 — —* 137,598,170  
Hong Kong 35,878,496 — 1,160* 35,879,656  
Republic of Korea 104,017,828 — 273,861 104,291,689  
Singapore 27,666,898 — 320,944* 27,987,842  
Spain 38,559,706 — —* 38,559,706  
Preferred Stock1 6,320,908 — — 6,320,908  
Rights1          
Australia — — 2,076 2,076  
Singapore — — 1,047 1,047  
Spain — — 17,082 17,082  
Warrants1          
Singapore — — —* —  
Other Investment Companies1 77,035,564 — — 77,035,564  
Liabilities          
Futures Contracts2 (148,315) — — (148,315)  
Total $2,210,085,352 $— $616,170 $2,210,701,522  
* Level 3 amount shown includes securities determined to have no value at May 31, 2019.
1 As categorized in Portfolio Holdings.
2 Futures contracts are valued at unrealized appreciation or depreciation.
32

 

Schwab International Small-Cap Equity ETF
Portfolio Holdings (Unaudited) continued
Fund investments in underlying mutual funds are classified as Level 1, without consideration to the classification level of the investments held by the underlying mutual funds, which could be Level 1, Level 2 or Level 3.
33

 

Schwab Strategic Trust
Schwab Emerging Markets Equity ETF™
Portfolio Holdings as of May 31, 2019 (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.    
 
Security Number
of Shares 		Value ($)
Common Stock 97.0% of net assets
 
Brazil 6.8%
Ambev S.A. 5,439,644 24,388,349
Atacadao S.A. 450,527 2,664,444
B2W Cia Digital * 219,191 1,758,276
B3 S.A. - Brasil Bolsa Balcao 2,467,970 23,056,832
Banco Bradesco S.A. 1,274,514 10,630,718
Banco BTG Pactual S.A. 255,203 3,046,606
Banco do Brasil S.A. 1,292,480 17,120,143
Banco Santander Brasil S.A. 491,328 5,736,177
BB Seguridade Participacoes S.A. 836,622 6,377,683
BR Malls Participacoes S.A. 1,037,842 3,396,371
BRF S.A. * 682,175 4,827,368
CCR S.A. 1,374,262 4,693,921
Centrais Eletricas Brasileiras S.A. 415,617 3,653,531
Cielo S.A. 1,458,227 2,495,943
Companhia de Saneamento Basico do Estado de Sao Paulo 404,972 4,573,833
Companhia Siderurgica Nacional S.A. 722,259 3,051,851
Cosan S.A. 208,437 2,510,147
CVC Brasil Operadora e Agencia de Viagens S.A. 123,582 1,629,701
EDP - Energias do Brasil S.A. 410,099 2,078,573
Embraer S.A. 922,249 4,464,699
Energisa S.A. 205,591 2,364,002
Engie Brasil Energia S.A. 202,208 2,392,774
Equatorial Energia S.A. 206,391 4,542,353
Estacio Participacoes S.A. 298,649 2,246,887
Fleury S.A. 277,667 1,404,508
Grendene S.A. 484,527 873,891
Hapvida Participacoes e Investimentos S.A. 169,971 1,597,060
Hypera S.A. 498,989 3,852,301
IRB Brasil Resseguros S.A. 229,588 5,975,482
Itau Unibanco Holding S.A. ADR 5,798,137 51,603,419
JBS S.A. 1,215,618 6,788,629
Klabin S.A. 818,314 3,250,762
Kroton Educacional S.A. 1,914,103 5,056,158
Localiza Rent a Car S.A. 667,369 6,485,468
Lojas Americanas S.A. 307,104 1,012,069
Lojas Renner S.A. 988,311 11,119,256
M Dias Branco S.A. 115,393 1,140,546
Magazine Luiza S.A. 94,009 4,707,175
Multiplan Empreendimentos Imobiliarios S.A. 356,230 2,260,564
Natura Cosmeticos S.A. 248,949 3,814,623
Notre Dame Intermedica Participacoes S.A. 396,271 4,150,601
Odontoprev S.A. 316,740 1,320,559
Petrobras Distribuidora S.A. 414,285 2,704,113
Petroleo Brasileiro S.A. 3,621,807 26,119,868
Porto Seguro S.A. 120,900 1,636,956
Raia Drogasil S.A. 288,239 5,111,780
Rumo S.A. * 1,415,208 6,999,394
Sao Martinho S.A. 168,754 842,822
Security Number
of Shares 		Value ($)
Sul America S.A. 293,446 2,617,055
Suzano S.A. 726,125 5,950,871
Tim Participacoes S.A. 1,078,637 3,031,118
Transmissora Alianca de Energia Eletrica S.A. 301,747 2,045,102
Ultrapar Participacoes S.A. 1,108,203 5,854,700
Vale S.A. 4,320,548 54,084,113
Via Varejo S.A. * 553,572 664,671
WEG S.A. 920,816 4,481,286
    382,258,102
 
Chile 1.0%
AES Gener S.A. 3,145,325 774,070
Aguas Andinas S.A., A Shares 3,530,346 1,954,854
Banco de Chile 34,000,980 4,898,469
Banco de Credito e Inversiones S.A. 55,475 3,570,047
Banco Santander Chile 76,380,430 5,397,215
Cencosud S.A. 1,655,317 3,020,203
Cia Cervecerias Unidas S.A. 201,306 2,733,252
Colbun S.A. 8,635,788 1,630,604
Empresa Nacional de Telecomunicaciones S.A. * 167,120 1,599,993
Empresas CMPC S.A. 1,365,258 3,639,916
Empresas COPEC S.A. 618,766 6,423,912
Enel Americas S.A. 33,331,740 5,327,232
Enel Chile S.A. 34,664,359 3,185,870
Engie Energia Chile S.A. 589,411 983,706
Itau CorpBanca 219,484,514 1,714,526
Latam Airlines Group S.A. 378,958 3,333,855
Parque Arauco S.A. 812,034 2,124,766
Plaza S.A. 285,750 640,955
S.A.C.I. Falabella 916,933 5,550,685
    58,504,130
 
China 31.8%
3SBio, Inc. 1,548,106 2,523,394
51job, Inc. ADR * 29,060 2,044,371
58.com, Inc. ADR * 121,096 6,906,105
Agile Group Holdings Ltd. 1,701,702 2,155,193
Agricultural Bank of China Ltd., H Shares 38,429,235 16,468,517
Air China Ltd., H Shares 2,386,135 2,212,498
Alibaba Group Holding Ltd. ADR * 1,502,486 224,261,060
Alibaba Health Information Technology Ltd. * 4,752,177 4,503,342
Alibaba Pictures Group Ltd. * 15,859,901 3,297,172
Aluminum Corp. of China Ltd., H Shares * 5,900,731 2,122,308
Angang Steel Co., Ltd., H Shares 1,921,160 864,951
Anhui Conch Cement Co., Ltd., H Shares 1,500,975 8,767,836
Anhui Expressway Co., Ltd., Class H 492,080 295,604
ANTA Sports Products Ltd. 1,505,252 9,215,182
Autohome, Inc. ADR * 69,673 5,984,911
AviChina Industry & Technology Co., Ltd., H Shares 3,219,248 1,827,124
BAIC Motor Corp., Ltd., H Shares 2,058,760 1,273,506
Baidu, Inc. ADR * 346,847 38,153,170
 
34

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Bank of China Ltd., H Shares 94,694,041 39,251,791
Bank of Communications Co., Ltd., H Shares 9,817,456 7,688,132
BBMG Corp., H Shares 3,192,420 964,988
BeiGene Ltd. ADR * 42,575 5,020,870
Beijing Capital International Airport Co., Ltd., H Shares 2,307,917 1,951,584
Beijing Enterprises Holdings Ltd. 644,642 3,239,428
Beijing Enterprises Water Group Ltd. * 6,044,699 3,214,876
Beijing Jingneng Clean Energy Co., Ltd., H Shares 2,041,365 367,107
Beijing North Star Co., Ltd., H Shares 734,820 269,915
Bosideng International Holdings Ltd. 3,250,760 808,487
Brilliance China Automotive Holdings Ltd. 3,578,043 3,641,681
BYD Co., Ltd., H Shares (a) 873,053 5,111,010
BYD Electronic International Co., Ltd. 1,061,654 1,397,385
CAR, Inc. *(a) 889,851 700,255
Central China Securities Co., Ltd. 1,307,975 298,611
CGN Power Co., Ltd., H Shares 13,798,114 3,801,255
China Agri-Industries Holdings Ltd. 2,750,360 831,364
China BlueChemical Ltd., H Shares 2,409,535 832,829
China Cinda Asset Management Co., Ltd., H Shares 11,741,880 2,725,602
China CITIC Bank Corp., Ltd., H Shares 10,870,785 6,169,847
China Coal Energy Co., Ltd., H Shares 3,184,953 1,299,890
China Communications Construction Co., Ltd., H Shares 5,752,187 5,113,512
China Communications Services Corp., Ltd., H Shares 3,021,013 2,261,748
China Conch Venture Holdings Ltd. 2,009,858 6,523,890
China Construction Bank Corp., H Shares 111,356,898 88,056,676
China Dongxiang Group Co., Ltd. 7,001,566 857,274
China Eastern Airlines Corp., Ltd., H Shares 2,093,032 1,150,553
China Everbright Bank Co., Ltd., H Shares 4,071,541 1,838,296
China Everbright International Ltd. 4,703,718 4,451,421
China Everbright Ltd. 1,067,117 1,706,723
China Evergrande Group 2,665,350 7,087,838
China Foods Ltd. 934,559 357,587
China Galaxy Securities Co., Ltd., H Shares 4,684,168 2,515,174
China Gas Holdings Ltd. 2,034,704 6,539,661
China Hongqiao Group Ltd. (a) 3,018,824 2,183,103
China Huarong Asset Management Co., Ltd., H Shares 12,906,531 2,189,347
China Huishan Dairy Holdings Co., Ltd. *(b) 3,872,695 —
China International Capital Corp., Ltd., H Shares 1,274,755 2,315,209
China International Marine Containers Group Co., Ltd., H Shares 688,247 757,545
China Jinmao Holdings Group Ltd. 7,195,181 4,157,128
China Life Insurance Co., Ltd., H Shares 9,353,260 21,711,402
China Literature Ltd. *(a) 246,317 948,757
China Longyuan Power Group Corp., Ltd., H Shares 4,391,810 2,772,696
China Machinery Engineering Corp., H Shares 1,247,488 548,920
China Medical System Holdings Ltd. 1,642,984 1,445,892
China Merchants Bank Co., Ltd., H Shares 4,744,966 22,845,651
China Merchants Port Holdings Co., Ltd. 1,674,114 2,929,494
China Merchants Securities Co., Ltd., H Shares 1,174,073 1,361,170
China Minsheng Banking Corp., Ltd., H Shares 8,388,615 6,098,438
China Mobile Ltd. 6,593,297 57,561,163
China Molybdenum Co., Ltd., H Shares 5,126,880 1,608,577
Security Number
of Shares 		Value ($)
China National Building Material Co., Ltd., H Shares 5,144,175 3,956,275
China Oilfield Services Ltd., H Shares 2,444,404 2,185,468
China Overseas Land & Investment Ltd. 4,795,908 16,637,697
China Pacific Insurance (Group) Co., Ltd., H Shares 3,230,519 11,948,786
China Petroleum & Chemical Corp., H Shares 32,095,990 21,368,535
China Power International Development Ltd. 6,081,021 1,574,440
China Railway Construction Corp., Ltd., H Shares 2,336,901 2,733,148
China Railway Group Ltd., H Shares 5,051,528 3,775,495
China Railway Signal & Communication Corp., Ltd., H shares 2,046,581 1,346,890
China Reinsurance Group Corp., H shares 8,217,942 1,498,831
China Resources Beer Holdings Co., Ltd. 1,983,372 8,676,644
China Resources Cement Holdings Ltd. 2,961,884 2,568,801
China Resources Gas Group Ltd. 972,954 4,659,676
China Resources Land Ltd. 3,353,256 13,643,031
China Resources Pharmaceutical Group Ltd. 2,164,227 2,826,547
China Resources Power Holdings Co., Ltd. 2,231,716 3,250,562
China Shenhua Energy Co., Ltd., H Shares 4,314,399 8,859,305
China South City Holdings Ltd. 4,132,363 595,567
China Southern Airlines Co., Ltd., H Shares 2,207,243 1,418,842
China State Construction International Holdings Ltd. 2,349,620 2,406,393
China Taiping Insurance Holdings Co., Ltd. 1,904,105 4,893,498
China Telecom Corp., Ltd., H Shares 17,159,146 8,622,741
China Tower Corp., Ltd., H Shares 43,940,326 9,863,463
China Traditional Chinese Medicine Holdings Co., Ltd. 3,188,633 1,683,675
China Unicom Hong Kong Ltd. 7,390,859 7,795,678
China Vanke Co., Ltd., H Shares 1,977,194 6,997,868
China Zhongwang Holdings Ltd. 1,880,009 896,778
Chongqing Rural Commercial Bank Co., Ltd., H Shares 4,230,671 2,163,750
CIFI Holdings Group Co., Ltd. 4,006,300 2,396,458
CIMC Enric Holdings Ltd. 901,524 732,437
CITIC Ltd. 6,270,459 8,509,312
CITIC Securities Co., Ltd., H Shares 2,973,698 5,415,999
CNOOC Ltd. 19,911,591 32,455,648
COSCO Shipping Development Co., Ltd., H Shares * 5,482,610 671,293
COSCO Shipping Energy Transportation Co., Ltd., H Shares 1,528,412 799,241
COSCO SHIPPING Holdings Co., Ltd., H Shares * 3,081,240 1,135,735
COSCO SHIPPING Ports Ltd. 2,145,648 2,085,292
Country Garden Holdings Co., Ltd. 9,164,953 12,390,521
Country Garden Services Holdings Co., Ltd. 1,609,810 3,301,522
CRRC Corp., Ltd., H Shares 5,037,969 4,317,956
CSC Financial Co., Ltd., H Shares 1,047,270 742,655
CSPC Pharmaceutical Group Ltd. 5,551,749 8,950,151
Ctrip.com International Ltd. ADR * 475,516 16,433,833
Dali Foods Group Co., Ltd. 2,975,557 2,129,044
Datang International Power Generation Co., Ltd., H Shares 5,199,786 1,299,855
Dongfang Electric Corp., Ltd., Class H * 428,768 279,992
Dongfeng Motor Group Co., Ltd., H Shares 3,755,692 3,094,396
ENN Energy Holdings Ltd. 938,173 8,435,785
Everbright Securities Co., Ltd., H Shares 267,061 213,906
Far East Horizon Ltd. 2,805,154 2,987,423
Fosun International Ltd. 2,781,179 3,589,739
 
35

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Fullshare Holdings Ltd. *(a) 10,222,949 951,815
Future Land Development Holdings Ltd. 1,972,400 2,150,872
Fuyao Glass Industry Group Co., Ltd., H Shares 650,545 1,941,541
GCL-Poly Energy Holdings Ltd. * 18,215,389 1,103,534
GDS Holdings Ltd. ADR * 51,320 1,667,387
Geely Automobile Holdings Ltd. 6,077,111 9,967,623
Genscript Biotech Corp. * 1,080,305 2,334,067
GF Securities Co., Ltd., H Shares 2,044,727 2,331,451
GOME Retail Holdings Ltd. *(a) 14,024,717 1,377,331
Great Wall Motor Co., Ltd., H Shares (a) 3,886,199 2,825,227
Greentown China Holdings Ltd. 1,050,971 698,364
Guangdong Investment Ltd. 3,701,062 7,278,874
Guangshen Railway Co., Ltd., H shares 2,340,085 820,763
Guangzhou Automobile Group Co., Ltd., H Shares 4,189,793 4,039,874
Guangzhou Baiyunshan Pharmaceutical Holdings Co., Ltd., H Shares 280,814 1,172,961
Guangzhou R&F Properties Co., Ltd., H Shares 1,351,207 2,557,462
Guotai Junan Securities Co., Ltd., H Shares 1,063,824 1,815,429
Haidilao International Holding Ltd. (a) 446,468 1,571,639
Haier Electronics Group Co., Ltd. 1,579,296 4,024,505
Haitian International Holdings Ltd. 727,460 1,438,117
Haitong Securities Co., Ltd., H Shares 4,353,638 4,464,387
Health & Happiness H&H International Holdings Ltd. (a) 219,102 1,196,034
Hengan International Group Co., Ltd. 887,382 6,507,766
HengTen Networks Group Ltd. * 28,450,437 703,954
Hopson Development Holdings Ltd. 811,661 811,604
Huadian Fuxin Energy Corp., Ltd., H Shares 3,323,808 640,127
Huadian Power International Corp., Ltd., H Shares 1,852,226 767,769
Huaneng Power International, Inc., H Shares 5,441,942 3,428,738
Huaneng Renewables Corp., Ltd., H Shares 6,365,690 1,721,214
Huatai Securities Co., Ltd., H Shares 2,187,938 3,465,853
Huaxin Cement Co., Ltd., B Shares 560,000 1,596,000
Huazhu Group Ltd. ADR 129,791 3,971,605
Industrial & Commercial Bank of China Ltd., H Shares 97,737,930 69,807,910
iQIYI, Inc. ADR * 162,980 2,971,125
JD.com, Inc. ADR * 997,511 25,695,883
Jiangsu Expressway Co., Ltd., H Shares 1,618,849 2,254,667
Jiangxi Bank Co., Ltd., H Shares * 1,070,659 839,808
Jiangxi Copper Co., Ltd., H Shares 1,717,957 2,145,104
Jiayuan International Group Ltd. 1,464,720 681,869
Kingboard Holdings Ltd. 918,939 2,414,390
Kingboard Laminates Holdings Ltd. 1,334,209 1,138,422
Kingsoft Corp., Ltd. * 1,138,354 3,136,061
Kunlun Energy Co., Ltd. 3,589,275 3,305,197
KWG Group Holdings Ltd. 1,545,940 1,551,747
Landing International Development Ltd. * 2,099,107 414,973
Lee & Man Paper Manufacturing Ltd. 1,998,208 1,299,763
Legend Holdings Corp., H Shares 509,182 1,228,705
Li Ning Co., Ltd. * 2,149,403 3,558,328
Livzon Pharmaceutical Group, Inc., H Shares 138,480 432,720
Logan Property Holdings Co., Ltd. 1,317,637 1,946,067
Longfor Group Holdings Ltd. 2,042,479 7,489,433
Luye Pharma Group Ltd. 2,152,914 1,620,064
Maanshan Iron & Steel Co., Ltd., H Shares 2,313,963 985,726
Meitu, Inc. * 2,158,257 729,462
Meituan Dianping., Class B * 625,782 4,832,709
Security Number
of Shares 		Value ($)
Metallurgical Corp. of China Ltd., H Shares 3,915,379 1,043,695
Momo, Inc. ADR 119,406 3,292,023
NetEase, Inc. ADR 89,505 22,251,838
New China Life Insurance Co., Ltd., H Shares 1,151,534 5,346,033
New Oriental Education & Technology Group, Inc. ADR * 171,907 14,723,835
Nine Dragons Paper Holdings Ltd. 2,048,697 1,633,094
NIO, Inc. ADR *(a) 194,523 593,295
Orient Securities Co., Ltd., H Shares 1,264,539 803,184
PetroChina Co., Ltd., H Shares 25,981,760 14,514,302
PICC Property & Casualty Co., Ltd., H Shares 8,569,958 9,257,966
Pinduoduo, Inc. ADR * 134,907 2,619,894
Ping An Healthcare & Technology Co., Ltd. *(a) 200,168 898,650
Ping An Insurance Group Co. of China Ltd., H Shares 6,220,292 68,704,018
Poly Property Group Co., Ltd. 2,752,238 947,771
Postal Savings Bank of China Co., Ltd., H Shares 11,393,171 6,815,080
Qingdao Port International Co., Ltd., H Shares 1,280,786 855,975
Red Star Macalline Group Corp., Ltd., H Shares 806,717 718,175
Shandong Chenming Paper Holdings Ltd., H Shares 1,453,139 683,891
Shandong Weigao Group Medical Polymer Co., Ltd., H Shares 2,133,559 1,855,848
Shanghai Electric Group Co., Ltd., H Shares 3,854,275 1,361,683
Shanghai Fosun Pharmaceutical Group Co., Ltd., H Shares 691,678 2,033,426
Shanghai Industrial Holdings Ltd. 703,280 1,465,662
Shanghai Pharmaceuticals Holding Co., Ltd., H Shares 1,129,158 2,229,355
Shenzhen Expressway Co., Ltd., H shares 1,088,982 1,259,742
Shenzhen International Holdings Ltd. 1,196,763 2,103,347
Shenzhen Investment Ltd. 4,856,647 1,790,144
Shenzhou International Group Holdings Ltd. 912,291 10,757,065
Shimao Property Holdings Ltd. 1,438,368 4,118,507
Sihuan Pharmaceutical Holdings Group Ltd. 4,730,397 1,061,851
SINA Corp. * 76,021 3,060,605
Sino Biopharmaceutical Ltd. 7,957,140 8,027,623
Sino-Ocean Group Holding Ltd. 4,017,342 1,603,750
Sinofert Holdings Ltd. * 2,423,032 281,225
Sinopec Engineering Group Co., Ltd., H shares 1,979,401 1,610,675
Sinopec Oilfield Service Corp., H Shares * 4,950,011 631,335
Sinopec Shanghai Petrochemical Co., Ltd., H Shares 4,508,082 1,966,398
Sinopharm Group Co., Ltd., H Shares 1,388,523 5,215,451
Sinotrans Ltd., H Shares 2,393,282 879,103
Sinotruk Hong Kong Ltd. 734,877 1,392,794
SOHO China Ltd. 2,918,648 912,014
Sunac China Holdings Ltd. 2,752,474 11,865,701
Sunny Optical Technology Group Co., Ltd. 827,623 7,056,469
TAL Education Group ADR * 399,551 13,748,550
Tencent Holdings Ltd. 7,104,730 295,405,549
The People's Insurance Co. Group of China Ltd., H Shares 10,137,866 3,982,454
TravelSky Technology Ltd., H Shares 1,329,238 2,753,228
Tsingtao Brewery Co., Ltd., H Shares 525,226 3,191,998
Vipshop Holdings Ltd. ADR * 515,413 3,886,214
Weibo Corp. ADR * 62,568 2,597,823
 
36

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Weichai Power Co., Ltd., H Shares 2,396,093 3,642,784
Wuxi Biologics Cayman, Inc. * 681,666 6,442,335
Xiaomi Corp., Class B * 11,302,904 13,810,488
Xinhua Winshare Publishing and Media Co., Ltd., H Shares 400,336 273,680
Xinjiang Goldwind Science & Technology Co., Ltd. H Shares 647,679 681,502
Yangtze Optical Fibre & Cable Joint Stock Ltd. Co., H Shares (a) 235,899 481,393
Yangzijiang Shipbuilding Holdings Ltd. 2,848,194 2,835,053
Yanlord Land Group Ltd. 1,162,035 1,004,702
Yanzhou Coal Mining Co., Ltd., H Shares 2,567,437 2,413,352
Yuexiu Property Co., Ltd. 7,891,758 1,791,625
YY, Inc. ADR * 52,778 3,612,654
Zhaojin Mining Industry Co., Ltd., H Shares 1,064,197 977,255
Zhejiang Expressway Co., Ltd., H Shares 1,800,338 1,880,578
ZhongAn Online P&C Insurance Co., Ltd., H Shares *(a) 422,357 1,206,650
Zhongsheng Group Holdings Ltd. 785,973 1,978,829
Zhuzhou CRRC Times Electric Co., Ltd., H Shares 635,855 3,422,347
Zijin Mining Group Co., Ltd., H Shares 7,586,220 2,680,147
Zoomlion Heavy Industry Science & Technology Co., Ltd., H Shares 2,240,470 1,311,612
ZTE Corp., H Shares * 944,585 2,272,146
ZTO Express Cayman, Inc. ADR 417,248 7,527,154
    1,801,453,187
 
Colombia 0.4%
Almacenes Exito S.A. 247,137 1,033,894
Bancolombia S.A. 350,593 3,890,398
Bancolombia S.A. ADR 140,312 6,590,455
Corp. Financiera Colombiana S.A. * 130,620 904,544
Ecopetrol S.A. ADR 296,907 4,866,306
Grupo de Inversiones Suramericana S.A. 319,937 3,157,228
Interconexion Electrica S.A. ESP 582,266 2,798,695
    23,241,520
 
Czech Republic 0.2%
CEZ A/S 206,411 4,794,841
Komercni Banka A/S 94,853 3,572,078
Moneta Money Bank A/S 720,070 2,345,186
O2 Czech Republic A/S 62,285 671,706
Philip Morris CR A/S 479 285,148
    11,668,959
 
Egypt 0.1%
Commercial International Bank Egypt SAE GDR 1,913,949 7,751,493
 
Greece 0.4%
Alpha Bank AE * 1,813,156 3,414,629
Eurobank Ergasias S.A. * 3,168,577 3,089,541
FF Group *(b) 50,437 —
Hellenic Petroleum S.A. 62,891 590,796
Hellenic Telecommunications Organization S.A. 278,067 3,795,834
JUMBO S.A. 129,848 2,300,669
Motor Oil Hellas Corinth Refineries S.A. 75,558 1,919,716
Mytilineos Holdings S.A. 170,312 1,853,272
National Bank of Greece S.A. * 612,456 1,616,138
Security Number
of Shares 		Value ($)
OPAP S.A. 271,031 2,831,470
Titan Cement Co. S.A. 60,305 1,223,056
    22,635,121
 
Hungary 0.4%
Magyar Telekom Telecommunications plc 512,471 732,977
MOL Hungarian Oil & Gas plc 555,985 6,247,298
OTP Bank plc 284,489 11,855,695
Richter Gedeon Nyrt 177,719 3,188,018
    22,023,988
 
India 12.3%
3M India Ltd. * 1,714 559,316
ABB India Ltd. 62,042 1,397,055
ACC Ltd. 55,746 1,348,631
Adani Enterprises Ltd. 240,433 533,883
Adani Ports & Special Economic Zone Ltd. 885,445 5,290,468
Adani Power Ltd. * 1,211,516 875,287
Adani Transmission Ltd. * 315,464 1,067,824
Aditya Birla Capital Ltd. * 531,143 755,278
Alkem Laboratories Ltd. 36,819 947,984
Ambuja Cements Ltd. 1,019,340 3,372,874
Ashok Leyland Ltd. 1,537,387 1,960,028
Asian Paints Ltd. 361,950 7,308,984
Aurobindo Pharma Ltd. 322,101 3,107,717
Avenue Supermarts Ltd. * 145,504 2,762,418
Axis Bank Ltd. * 2,250,327 26,099,967
Bajaj Auto Ltd. 109,244 4,586,473
Bajaj Finance Ltd. 213,540 10,623,493
Bajaj Finserv Ltd. 47,041 5,526,796
Bajaj Holdings & Investment Ltd. 33,142 1,662,729
Bandhan Bank Ltd. 123,520 1,048,723
Bank of Baroda * 688,038 1,315,532
Bank of India * 470,040 638,377
Berger Paints India Ltd. 306,449 1,452,408
Bharat Electronics Ltd. 734,418 1,176,586
Bharat Forge Ltd. 235,944 1,582,242
Bharat Heavy Electricals Ltd. 1,132,160 1,140,425
Bharat Petroleum Corp., Ltd. 1,257,400 7,385,672
Bharti Airtel Ltd. 2,065,254 10,336,457
Bharti Infratel Ltd. 1,046,397 4,038,969
Biocon Ltd. 198,542 1,543,808
Bosch Ltd. 9,318 2,369,616
Britannia Industries Ltd. 75,472 3,164,320
Cadila Healthcare Ltd. 294,422 1,047,716
Canara Bank * 191,331 735,221
Castrol India Ltd. 504,071 1,064,685
Cipla Ltd. 423,181 3,393,463
Coal India Ltd. 1,815,963 6,605,515
Colgate-Palmolive (India) Ltd. 99,428 1,644,049
Container Corp. Of India Ltd. 275,062 2,092,036
Cummins India Ltd. 69,699 790,138
Dabur India Ltd. 665,153 3,779,059
Dalmia Bharat Ltd. * 52,634 892,474
Divi's Laboratories Ltd. 97,378 2,224,885
DLF Ltd. 503,377 1,381,030
Dr. Reddy's Laboratories Ltd. 99,273 3,815,226
Eicher Motors Ltd. 16,892 4,835,003
Emami Ltd. 139,610 697,737
Exide Industries Ltd. 278,627 851,378
Federal Bank Ltd. 1,616,234 2,489,591
Future Retail Ltd. * 266,845 1,721,692
GAIL India Ltd. 668,344 3,462,015
Gillette India Ltd. 9,511 1,015,273
GlaxoSmithKline Consumer Healthcare Ltd. 13,168 1,396,900
Glenmark Pharmaceuticals Ltd. 176,025 1,377,436
 
37

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
GMR Infrastructure Ltd. * 1,140,517 253,662
Godrej Consumer Products Ltd. 483,245 4,770,997
Godrej Industries Ltd. 90,483 638,459
Grasim Industries Ltd. 419,228 5,330,338
GRUH Finance Ltd. 191,276 871,829
Havells India Ltd. 294,629 3,162,058
HCL Technologies Ltd. 683,666 10,717,835
HDFC Asset Management Co., Ltd. 23,860 606,777
HDFC Life Insurance Co., Ltd. 486,296 3,081,773
Hero MotoCorp Ltd. 123,753 4,759,406
Hindalco Industries Ltd. 1,130,334 3,195,176
Hindustan Petroleum Corp., Ltd. 754,940 3,512,482
Hindustan Unilever Ltd. 876,965 22,505,722
Hindustan Zinc Ltd. 311,426 1,098,395
Housing Development Finance Corp., Ltd. 2,136,144 66,901,579
ICICI Lombard General Insurance Co., Ltd. 188,952 3,189,813
ICICI Prudential Life Insurance Co., Ltd. 391,870 2,180,297
IDFC First Bank Ltd. * 2,693,037 1,754,365
Indiabulls Housing Finance Ltd. 401,606 4,532,609
Indian Oil Corp., Ltd. 2,732,510 6,491,016
Infosys Ltd. 4,739,279 50,169,901
InterGlobe Aviation Ltd. 116,607 2,804,776
ITC Ltd. 3,783,255 15,121,348
Jindal Steel & Power Ltd. * 490,421 1,126,280
JSW Energy Ltd. * 502,703 529,095
JSW Steel Ltd. 1,507,246 5,876,186
Kansai Nerolac Paints Ltd. 169,361 1,121,155
L&T Finance Holdings Ltd. 637,045 1,225,346
Larsen & Toubro Infotech Ltd. 40,180 1,029,158
Larsen & Toubro Ltd. 426,901 9,540,934
LIC Housing Finance Ltd. 324,385 2,600,060
Lupin Ltd. 291,001 3,113,099
Mahindra & Mahindra Financial Services Ltd. 362,788 2,194,961
Mahindra & Mahindra Ltd. 727,643 6,755,818
Mangalore Refinery & Petrochemicals Ltd. 257,940 234,285
Marico Ltd. 619,407 3,305,844
Maruti Suzuki India Ltd. 151,914 14,974,999
Motherson Sumi Systems Ltd. 1,244,117 2,059,210
Mphasis Ltd. 106,115 1,513,280
MRF Ltd. 1,000 792,999
Muthoot Finance Ltd. 98,789 922,383
Nestle India Ltd. 29,124 4,805,060
NHPC Ltd. 2,988,384 1,074,152
NMDC Ltd. 918,657 1,335,318
NTPC Ltd. 3,007,282 5,749,937
Oil & Natural Gas Corp., Ltd. 3,881,698 9,577,357
Oil India Ltd. 355,100 917,160
Oracle Financial Services Software Ltd. 32,200 1,579,361
Page Industries Ltd. 4,422 1,253,626
Petronet LNG Ltd. 645,206 2,287,204
Pidilite Industries Ltd. 151,209 2,798,152
Piramal Enterprises Ltd. 108,011 3,445,240
Power Finance Corp., Ltd. * 829,081 1,478,733
Power Grid Corp. of India Ltd. 945,764 2,568,947
Punjab National Bank * 888,154 1,027,814
Rajesh Exports Ltd. 186,005 1,754,992
RBL Bank Ltd. 397,775 3,923,170
REC Ltd. 864,444 1,792,985
Reliance Capital Ltd. 193,958 338,565
Reliance Industries Ltd. 3,876,680 73,991,583
Reliance Infrastructure Ltd. 201,666 300,945
Reliance Power Ltd. * 686,086 73,343
SBI Life Insurance Co., Ltd. 195,782 1,950,340
Shree Cement Ltd. 10,915 3,385,915
Shriram Transport Finance Co., Ltd. 209,853 3,505,919
Siemens Ltd. 114,111 2,082,419
State Bank of India * 2,184,829 11,050,917
Steel Authority of India Ltd. * 1,290,264 928,477
Security Number
of Shares 		Value ($)
Sun Pharmaceutical Industries Ltd. 1,371,365 8,064,914
Sun TV Network Ltd. 101,470 799,559
Tata Communications Ltd. 113,888 884,091
Tata Consultancy Services Ltd. 1,128,286 35,561,661
Tata Motors Ltd. * 1,229,060 3,043,937
Tata Motors Ltd., A Shares, DVR * 500,910 603,396
Tata Power Co., Ltd. 1,242,509 1,226,619
Tata Steel Ltd. 343,372 2,405,877
Tech Mahindra Ltd. 586,067 6,394,146
Titan Co., Ltd. 403,852 7,161,015
Torrent Pharmaceuticals Ltd. 56,678 1,272,650
Torrent Power Ltd. 163,187 575,909
TVS Motor Co., Ltd. 74,095 509,587
UltraTech Cement Ltd. 134,765 9,204,812
United Breweries Ltd. 86,500 1,668,902
United Spirits Ltd. * 388,076 3,085,230
UPL Ltd. 446,686 6,402,769
Vedanta Ltd. 2,114,958 4,872,298
Vodafone Idea Ltd. * 9,280,995 1,857,764
Voltas Ltd. 131,914 1,098,128
Wipro Ltd. 1,839,851 7,560,968
Yes Bank Ltd. 2,170,933 4,604,077
Zee Entertainment Enterprises Ltd. 662,706 3,399,053
    698,093,560
 
Indonesia 2.4%
Barito Pacific Tbk PT 4,064,071 939,669
PT Adaro Energy Tbk 18,010,925 1,634,202
PT Astra Agro Lestari Tbk 490,138 362,302
PT Astra International Tbk 25,425,253 13,271,546
PT Bank Central Asia Tbk 11,907,120 24,277,260
PT Bank Danamon Indonesia Tbk 3,579,992 1,161,350
PT Bank Mandiri (Persero) Tbk 23,015,473 12,376,511
PT Bank Negara Indonesia (Persero) Tbk 9,181,563 5,403,757
PT Bank Rakyat Indonesia (Persero) Tbk 65,246,862 18,743,187
PT Bukit Asam Tbk 5,131,112 1,100,102
PT Bumi Serpong Damai Tbk * 8,418,849 796,318
PT Charoen Pokphand Indonesia Tbk 9,110,300 3,127,726
PT Gudang Garam Tbk 574,250 3,237,889
PT Hanjaya Mandala Sampoerna Tbk 11,231,237 2,659,771
PT Indah Kiat Pulp & Paper Corp. Tbk 3,271,820 1,776,606
PT Indocement Tunggal Prakarsa Tbk 1,707,525 2,536,313
PT Indofood CBP Sukses Makmur Tbk 2,964,352 2,035,428
PT Indofood Sukses Makmur Tbk 5,717,068 2,643,731
PT Jasa Marga Persero Tbk 2,423,220 967,760
PT Kalbe Farma Tbk 24,064,768 2,368,961
PT Matahari Department Store Tbk 3,368,862 885,145
PT Media Nusantara Citra Tbk 6,755,239 539,567
PT Perusahaan Gas Negara Tbk 13,705,784 1,978,204
PT Semen Indonesia (Persero) Tbk 3,701,423 2,995,371
PT Surya Citra Media Tbk 8,642,334 999,114
PT Telekomunikasi Indonesia (Persero) Tbk 58,221,165 15,909,094
PT Tower Bersama Infrastructure Tbk 2,028,616 520,213
PT Unilever Indonesia Tbk 1,357,964 4,233,974
PT United Tractors Tbk 1,971,529 3,501,717
PT Vale Indonesia Tbk * 2,633,264 498,148
PT XL Axiata Tbk * 3,978,373 797,208
    134,278,144
 
Kuwait 1.0%
Agility Public Warehousing Co. KSC 1,276,798 3,057,772
Ahli United Bank BSC 5,811,454 4,791,968
Boubyan Bank KSCP 1,087,878 2,033,517
Boubyan Petrochemicals Co. KSCP 468,435 1,445,008
Gulf Bank KSCP 2,174,428 2,235,861
Humansoft Holding Co. KSC 124,051 1,358,285
 
38

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Kuwait Finance House KSCP 4,465,313 9,975,075
Mobile Telecommunications Co. KSC 2,657,818 4,575,219
National Bank of Kuwait SAKP 7,616,020 24,244,163
    53,716,868
 
Malaysia 3.1%
AirAsia Group Berhad 1,668,400 1,150,621
Alliance Bank Malaysia Berhad 1,635,680 1,502,772
AMMB Holdings Berhad 2,571,772 2,718,757
Astro Malaysia Holdings Berhad 1,949,200 646,555
Axiata Group Berhad 5,644,157 6,316,930
British American Tobacco Malaysia Berhad 186,600 1,335,879
CIMB Group Holdings Berhad 8,681,643 10,918,091
Dialog Group Berhad 5,800,000 4,595,156
DiGi.com Berhad 4,590,400 5,444,288
FGV Holdings Berhad * 2,766,300 752,555
Fraser & Neave Holdings Berhad 80,700 658,618
Gamuda Berhad 2,629,516 2,189,956
Genting Berhad 2,783,100 4,243,887
Genting Malaysia Berhad 3,425,320 2,566,640
HAP Seng Consolidated Berhad 953,934 2,253,656
Hartalega Holdings Berhad 1,879,000 2,331,655
Hong Leong Bank Berhad 793,007 3,595,545
Hong Leong Financial Group Berhad 253,000 1,145,911
IHH Healthcare Berhad 3,586,400 4,707,123
IJM Corp. Berhad 3,999,836 2,118,992
IOI Corp. Berhad 4,100,292 4,217,220
IOI Properties Group Berhad 2,157,150 689,794
KLCCP Stapled Group 557,544 1,025,812
Kuala Lumpur Kepong Berhad 593,148 3,510,338
Malayan Banking Berhad 7,423,451 15,978,888
Malaysia Airports Holdings Berhad 1,060,600 1,857,727
Maxis Berhad 3,557,124 4,702,653
MISC Berhad 1,725,800 2,862,262
Nestle Malaysia Berhad 71,571 2,510,664
Petronas Chemicals Group Berhad 3,573,700 7,095,379
Petronas Dagangan Berhad 328,100 2,016,909
Petronas Gas Berhad 962,136 4,054,724
PPB Group Berhad 833,877 3,737,074
Press Metal Aluminium Holdings Berhad 2,311,132 2,470,796
Public Bank Berhad 3,900,454 21,966,523
QL Resources Berhad 684,900 1,117,937
RHB Bank Berhad 1,488,600 2,071,003
Sime Darby Berhad 4,137,100 2,290,436
Sime Darby Plantation Berhad 4,548,600 5,058,221
Sime Darby Property Berhad 4,878,600 1,234,057
Telekom Malaysia Berhad 1,641,800 1,414,365
Tenaga Nasional Berhad 4,887,274 14,811,688
Top Glove Corp. Berhad 2,088,200 2,516,504
UEM Sunrise Berhad 1,411,200 289,615
Westports Holdings Berhad 1,040,400 963,310
YTL Corp. Berhad 6,068,564 1,650,916
YTL Power International Berhad 3,433,503 692,354
    174,000,756
 
Mexico 3.2%
Alfa S.A.B. de C.V., A Shares 3,932,842 3,587,617
Alpek S.A.B. de C.V. 242,065 273,027
Alsea S.A.B. de C.V. * 680,063 1,327,773
America Movil S.A.B. de C.V., Series L 34,261,273 24,091,118
Arca Continental S.A.B. de C.V. 429,030 2,291,558
Banco del Bajio S.A. 902,541 1,742,816
Banco Santander Mexico S.A. Institucion de Banca Multiple Grupo Financiero Santand 2,194,646 3,211,704
Becle S.A.B. de C.V. 632,537 922,769
Security Number
of Shares 		Value ($)
Cemex S.A.B. de C.V., Series CPO * 19,007,440 7,743,898
Coca-Cola Femsa S.A.B. de C.V. 698,348 4,352,145
Concentradora Fibra Danhos S.A. de C.V. 181,363 221,854
El Puerto de Liverpool S.A.B. de C.V., Series C1 243,499 1,362,298
Fibra Uno Administracion S.A. de C.V. 3,838,249 4,922,212
Fomento Economico Mexicano S.A.B. de C.V. 2,641,135 24,537,378
GMexico Transportes S.A.B. de C.V. 363,312 440,906
Gruma S.A.B. de C.V., B Shares 288,170 2,746,442
Grupo Aeroportuario del Centro Norte S.A.B. de C.V. 410,710 2,477,265
Grupo Aeroportuario del Pacifico S.A.B. de C.V., B Shares 434,635 4,250,498
Grupo Aeroportuario del Sureste S.A.B. de C.V., B Shares 258,000 4,070,721
Grupo Bimbo S.A.B. de C.V., Series A 2,935,935 5,920,823
Grupo Carso S.A.B. de C.V., Series A1 546,968 2,011,718
Grupo Comercial Chedraui S.A. de C.V. 393,647 663,187
Grupo Elektra S.A.B. de C.V. 77,508 4,734,464
Grupo Financiero Banorte S.A.B. de C.V., O Shares 3,516,847 19,114,332
Grupo Financiero Inbursa S.A.B. de C.V., O Shares 2,914,259 3,863,587
Grupo Lala S.A.B. de C.V. 720,015 838,546
Grupo Mexico S.A.B. de C.V., Series B 4,430,564 11,049,582
Grupo Televisa S.A.B., Series CPO 3,077,203 5,727,145
Industrias Bachoco S.A.B. de C.V., Series B 138,940 611,048
Industrias Penoles S.A.B. de C.V. 168,660 1,886,078
Infraestructura Energetica Nova S.A.B. de C.V. 676,711 2,753,565
Kimberly-Clark de Mexico S.A.B. de C.V., A Shares * 916,439 1,651,894
Megacable Holdings S.A.B. de C.V., Series CPO 405,718 1,673,847
Mexichem S.A.B. de C.V. 1,328,580 2,778,220
Nemak S.A.B. de C.V. 781,120 360,459
Promotora y Operadora de Infraestructura S.A.B. de C.V. 281,265 2,736,567
Regional S.A.B. de C.V. 307,898 1,490,232
Telesites S.A.B. de C.V. * 1,590,379 1,037,195
Wal-Mart de Mexico S.A.B. de C.V. 6,465,744 18,235,235
    183,711,723
 
Peru 0.4%
Companhia de Minas Buenaventura S.A. ADR 281,936 4,276,969
Credicorp Ltd. 84,583 18,929,675
    23,206,644
 
Philippines 1.5%
Aboitiz Power Corp. 1,744,737 1,220,891
Alliance Global Group, Inc. 5,946,352 1,778,399
Ayala Corp. 316,760 5,580,845
Ayala Land, Inc. 8,917,723 8,462,784
Bank of the Philippine Islands 2,219,937 3,438,794
BDO Unibank, Inc. 2,434,417 6,440,627
Bloomberry Resorts Corp. 4,795,247 1,088,471
DMCI Holdings, Inc. 5,176,310 1,049,929
Globe Telecom, Inc. 39,798 1,655,675
GT Capital Holdings, Inc. 109,995 1,819,859
International Container Terminal Services, Inc. 1,344,973 3,506,764
JG Summit Holdings, Inc. 3,452,614 4,143,587
Jollibee Foods Corp. 498,365 2,751,656
 
39

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
LT Group, Inc. 3,455,286 989,666
Manila Electric Co. 319,654 2,359,364
Megaworld Corp. 14,603,012 1,651,766
Metro Pacific Investments Corp. 17,628,558 1,520,840
Metropolitan Bank & Trust Co. 1,976,903 2,719,326
PLDT, Inc. 144,696 3,744,936
San Miguel Corp. 398,645 1,432,985
San Miguel Food & Beverage, Inc. 697,648 1,436,464
Semirara Mining & Power Corp. 1,434,863 605,184
SM Investments Corp. 616,825 11,139,532
SM Prime Holdings, Inc. 11,433,640 8,724,121
Universal Robina Corp. 1,180,562 3,779,718
    83,042,183
 
Qatar 1.4%
Barwa Real Estate Co. 238,386 2,350,501
Commercial Bank QSC 251,612 3,209,980
Doha Bank QPSC 176,875 1,128,013
Ezdan Holding Group QSC * 143,377 293,374
Gulf International Services QSC * 85,581 448,948
Industries Qatar QSC 251,735 7,881,951
Masraf Al Rayan QSC 474,659 4,719,278
Mesaieed Petrochemical Holding Co. 557,149 4,013,793
Ooredoo QPSC 114,818 2,031,811
Qatar Aluminum Manufacturing co. 319,240 880,311
Qatar Electricity & Water Co. QSC 66,191 2,999,633
Qatar Fuel QSC 57,334 3,243,880
Qatar Gas Transport Co., Ltd. 390,417 2,301,144
Qatar Insurance Co. SAQ 168,275 1,617,607
Qatar International Islamic Bank QSC 53,829 1,079,256
Qatar Islamic Bank SAQ 146,677 6,731,685
Qatar National Bank QPSC 556,312 28,725,101
Qatar Navigation QSC 76,606 1,325,527
United Development Co. QSC 255,775 958,203
Vodafone Qatar QSC 450,282 873,121
    76,813,117
 
Russia 4.5%
Aeroflot PJSC 577,739 831,914
ALROSA PAO 3,085,122 4,174,827
Federal Grid Co. Unified Energy System PJSC 427,855,971 1,134,246
Gazprom PJSC * 13,246,432 43,740,449
Inter RAO UES PJSC 51,564,065 3,177,378
LUKOIL PJSC 617,411 49,935,024
Magnit PJSC * 93,024 5,338,710
Magnitogorsk Iron & Steel Works OJSC 2,519,182 1,726,925
MMC Norilsk Nickel PJSC 58,402 12,298,791
Mobile TeleSystems PJSC 1,242,454 4,878,932
Moscow Exchange MICEX-RTS PJSC 2,170,751 2,824,188
Mosenergo PJSC 8,924,558 314,285
NovaTek PJSC 1,349,263 27,403,143
Novolipetsk Steel AO 1,146,128 3,031,885
PhosAgro PJSC * 41,496 1,572,792
Polyus PJSC * 25,086 1,991,168
Rosneft Oil Co. PJSC 1,288,508 8,564,834
Rosseti PJSC 23,653,116 451,302
Rostelecom PJSC 1,147,147 1,355,805
RusHydro PJSC 172,519,103 1,429,838
RussNeft PJSC * 84,672 740,898
Sberbank of Russia PJSC 12,675,070 45,383,430
Severstal PJSC 257,491 4,096,693
Sistema PJSC 6,447,312 892,746
Surgutneftegas PJSC 9,226,909 3,532,614
Tatneft PJSC 1,897,434 21,802,304
Security Number
of Shares 		Value ($)
Unipro JSC 20,001,236 764,847
VTB Bank PJSC GDR 2,200,722 2,539,633
    255,929,601
 
Saudi Arabia 0.8%
Abdullah Al Othaim Markets Co. 22,173 458,199
Advanced Petrochemical Co. 31,071 459,808
Al Rajhi Bank 381,830 7,004,654
Alinma Bank 223,814 1,438,244
Almarai Co. JSC 149,900 2,038,450
Bank Al-Jazira 123,713 480,951
Bank AlBilad * 114,527 725,575
Bupa Arabia for Cooperative Insurance Co. 20,530 481,726
Dar Al Arkan Real Estate Development Co. * 205,142 552,464
Emaar Economic City * 119,751 288,972
Etihad Etisalat Co. * 110,229 646,029
Fawaz Abdulaziz Al Hokair & Co. * 43,948 248,429
Jarir Marketing Co. 15,192 676,487
Mobile Telecommunications Co. * 106,373 304,057
Mouwasat Medical Services Co. 13,838 314,370
National Commercial Bank 335,931 4,881,742
National Industrialization Co. * 127,545 552,983
National Petrochemical Co. 41,020 265,566
Rabigh Refining & Petrochemical Co. * 110,949 561,497
Riyad Bank 414,092 2,925,977
Sahara International Petrochemical Co. 108,428 618,705
Samba Financial Group 287,083 2,679,191
Saudi Airlines Catering Co. 28,087 624,597
Saudi Arabian Fertilizer Co. 47,417 1,003,882
Saudi Arabian Mining Co. * 108,292 1,378,789
Saudi Basic Industries Corp. 232,912 6,943,235
Saudi Cement Co. 18,738 316,268
Saudi Electricity Co. 247,578 1,062,836
Saudi Ground Services Co. 46,868 336,168
Saudi Industrial Investment Group 87,139 557,638
Saudi Kayan Petrochemical Co. * 209,464 654,584
Saudi Pharmaceutical Industries & Medical Appliances Corp. 39,671 270,795
Saudi Research & Marketing Group * 25,202 638,391
Saudi Telecom Co. 96,779 2,596,016
Seera Group Holding 59,355 269,367
The Co. for Cooperative Insurance * 18,089 334,254
The Qassim Cement Co. 28,108 328,271
The Savola Group * 77,435 689,623
Yanbu Cement Co. 39,445 315,005
Yanbu National Petrochemical Co. 63,018 1,068,686
    47,992,481
 
South Africa 7.3%
Absa Group Ltd. 885,068 10,274,875
African Rainbow Minerals Ltd. 132,749 1,504,169
Anglo American Platinum Ltd. 81,652 4,110,112
AngloGold Ashanti Ltd. 508,256 6,796,997
Aspen Pharmacare Holdings Ltd. 457,563 3,078,394
Assore Ltd. 37,608 986,062
Attacq Ltd. 635,484 567,057
AVI Ltd. 429,030 2,635,333
Barloworld Ltd. 282,718 2,565,679
Bid Corp., Ltd. 419,935 8,778,610
Brait SE * 469,183 539,202
Capitec Bank Holdings Ltd. 67,441 6,111,547
Clicks Group Ltd. 307,223 4,023,920
Coronation Fund Managers Ltd. 408,064 1,308,496
Dis-Chem Pharmacies Ltd. 516,260 897,581
Discovery Ltd. 442,401 4,215,991
 
40

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Distell Group Holdings Ltd. 85,532 750,179
Exxaro Resources Ltd. 308,418 3,599,110
FirstRand Ltd. 3,908,708 17,962,738
Fortress REIT Ltd., Class A 1,463,897 2,006,165
Fortress REIT Ltd., Class B 1,290,085 1,047,488
Gold Fields Ltd. 974,460 4,380,468
Growthpoint Properties Ltd. 3,544,980 5,890,645
Harmony Gold Mining Co., Ltd. * 557,681 967,298
Hyprop Investments Ltd. 294,675 1,431,727
Impala Platinum Holdings Ltd. * 830,036 3,307,030
Imperial Logistics Ltd. 212,226 877,332
Investec Ltd. 394,837 2,324,134
JSE Ltd. 132,041 1,320,183
KAP Industrial Holdings Ltd. 2,474,726 1,178,077
Kumba Iron Ore Ltd. 67,739 2,056,902
Liberty Holdings Ltd. 169,114 1,264,739
Life Healthcare Group Holdings Ltd. 1,722,573 2,739,314
MAS Real Estate, Inc. 556,447 774,038
Massmart Holdings Ltd. 144,104 666,694
MMI Holdings Ltd. 1,379,197 1,776,400
Mondi Ltd. 142,331 2,928,748
Motus Holdings Ltd. 212,226 1,254,040
Mr Price Group Ltd. 318,361 4,311,514
MTN Group Ltd. 2,245,885 15,834,974
MultiChoice Group Ltd. * 530,479 4,441,703
Naspers Ltd., N Shares 530,968 119,474,092
Nedbank Group Ltd. 492,230 8,860,985
NEPI Rockcastle plc 446,547 3,774,829
Netcare Ltd. 1,811,495 2,314,533
Northam Platinum Ltd. * 436,619 1,688,890
Old Mutual Ltd. 5,948,899 8,597,962
Pepkor Holdings Ltd. 987,452 1,209,429
Pick n Pay Stores Ltd. 481,483 2,347,302
Pioneer Foods Group Ltd. 212,330 1,054,540
PSG Group Ltd. 200,719 3,351,177
Rand Merchant Investment Holdings Ltd. 978,466 2,212,681
Redefine Properties Ltd. 7,220,211 4,498,527
Remgro Ltd. 640,147 8,142,169
Resilient REIT Ltd. 366,224 1,483,764
Reunert Ltd. 212,953 1,007,897
RMB Holdings Ltd. 860,635 4,869,689
Sanlam Ltd. 2,163,823 11,320,403
Santam Ltd. 37,664 783,965
Sappi Ltd. 674,690 2,553,695
Sasol Ltd. 694,689 17,493,803
Shoprite Holdings Ltd. 569,145 6,724,571
Sibanye Gold Ltd. * 2,189,249 2,069,316
Standard Bank Group Ltd. 1,575,234 21,506,286
Super Group Ltd. * 443,545 1,057,256
Telkom S.A. SOC Ltd. 356,923 2,248,805
The Bidvest Group Ltd. 432,230 6,149,053
The Foschini Group Ltd. 286,693 3,468,084
The SPAR Group Ltd. 252,731 3,324,435
Tiger Brands Ltd. 211,760 3,200,074
Truworths International Ltd. 508,023 2,500,419
Tsogo Sun Holdings Ltd. 669,844 986,073
Vodacom Group Ltd. 762,020 6,218,649
Vukile Property Fund Ltd. 881,952 1,254,089
Woolworths Holdings Ltd. 1,215,657 3,820,457
    415,053,564
 
Taiwan 12.6%
Acer, Inc. * 3,602,086 2,170,652
Advantech Co., Ltd. 465,256 3,900,129
ASE Technology Holding Co.,Ltd. * 4,165,120 7,878,977
Asia Cement Corp. 2,781,286 3,967,924
Asustek Computer, Inc. 871,426 5,981,793
AU Optronics Corp. 10,797,530 3,176,498
Security Number
of Shares 		Value ($)
Capital Securities Corp. 3,611,644 1,056,788
Catcher Technology Co., Ltd. 884,224 5,370,376
Cathay Financial Holding Co., Ltd. 9,938,189 12,826,512
Chailease Holding Co., Ltd. 1,350,000 4,975,089
Chang Hwa Commercial Bank Ltd. 7,580,999 4,784,213
Cheng Shin Rubber Industry Co., Ltd. 2,357,277 2,990,172
Chicony Electronics Co., Ltd. 811,951 1,923,768
China Airlines Ltd. 2,974,872 916,576
China Development Financial Holding Corp. 17,438,308 5,130,131
China Life Insurance Co., Ltd. 3,246,497 2,505,798
China Motor Corp. 809,000 705,036
China Steel Corp. 15,174,956 11,664,735
Chunghwa Telecom Co., Ltd. 4,745,310 16,887,224
Compal Electronics, Inc. 5,160,638 3,207,799
CTBC Financial Holding Co., Ltd. 23,184,792 15,364,852
Delta Electronics, Inc. 2,699,148 12,166,978
E.Sun Financial Holding Co., Ltd. 12,983,422 11,253,326
Eclat Textile Co., Ltd. 240,510 3,123,111
Epistar Corp. 1,355,828 1,018,613
Eternal Materials Co., Ltd. 1,664,213 1,400,334
Eva Airways Corp. 3,330,982 1,585,806
Evergreen Marine Corp., Ltd. 2,682,037 1,026,576
Far Eastern International Bank 3,488,856 1,329,876
Far Eastern New Century Corp. 4,975,799 5,162,711
Far EasTone Telecommunications Co., Ltd. 2,035,280 5,053,997
Feng Hsin Steel Co., Ltd. 791,000 1,603,894
Feng TAY Enterprise Co., Ltd. 421,200 3,184,399
First Financial Holding Co., Ltd. 12,629,632 9,029,013
Formosa Chemicals & Fibre Corp. 4,137,008 14,068,117
Formosa Petrochemical Corp. 1,676,660 6,152,394
Formosa Plastics Corp. 5,961,560 20,838,351
Formosa Taffeta Co., Ltd. 1,426,000 1,754,730
Foxconn Technology Co., Ltd. 1,378,315 2,681,419
Fubon Financial Holding Co., Ltd. 9,251,114 12,656,724
Giant Manufacturing Co., Ltd. 345,752 2,455,400
Globalwafers Co., Ltd. 267,451 2,580,389
Hon Hai Precision Industry Co., Ltd. 14,874,092 34,770,910
Hotai Motor Co., Ltd. 400,000 6,402,531
HTC Corp. * 853,778 974,975
Hua Nan Financial Holdings Co., Ltd. 10,904,521 7,226,563
Innolux Corp. 10,750,029 2,547,021
Inventec Corp. 3,762,145 2,832,394
Largan Precision Co., Ltd. 129,956 15,498,114
Lite-On Technology Corp. 2,742,107 3,912,029
MediaTek, Inc. 1,812,713 17,833,254
Mega Financial Holding Co., Ltd. 13,711,901 13,446,230
Nan Ya Plastics Corp. 6,987,816 17,352,109
Nanya Technology Corp. 1,035,000 2,016,797
Novatek Microelectronics Corp. 712,608 3,775,780
OBI Pharma, Inc. * 147,666 663,300
Oriental Union Chemical Corp. 764,000 588,482
Pegatron Corp. 2,567,657 4,182,976
Pou Chen Corp. 3,253,792 3,689,947
President Chain Store Corp. 690,400 6,573,678
Quanta Computer, Inc. 3,286,000 6,122,433
Realtek Semiconductor Corp. 574,336 3,633,601
Shin Kong Financial Holding Co., Ltd. 12,862,843 3,572,503
SinoPac Financial Holdings Co., Ltd. 13,144,699 5,093,636
Synnex Technology International Corp. 1,702,956 2,060,516
Taishin Financial Holding Co., Ltd. 12,356,607 5,511,369
Taiwan Business Bank 5,419,576 2,220,119
Taiwan Cement Corp. 5,588,770 7,584,286
Taiwan Cooperative Financial Holding Co., Ltd. 11,833,652 7,692,576
Taiwan Fertilizer Co., Ltd. 917,508 1,448,277
Taiwan Glass Industry Corp. 2,857,311 1,098,184
Taiwan High Speed Rail Corp. 2,614,000 3,596,963
Taiwan Mobile Co., Ltd. 1,978,524 7,385,238
 
41

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Taiwan Secom Co., Ltd. 428,000 1,206,320
Taiwan Semiconductor Manufacturing Co., Ltd. 29,938,500 223,029,395
Teco Electric & Machinery Co., Ltd. 2,184,000 1,578,629
TPK Holding Co., Ltd. 461,000 732,059
Transcend Information, Inc. 430,000 975,279
U-Ming Marine Transport Corp. 230,000 228,818
Uni-President Enterprises Corp. 6,051,676 15,563,504
Unimicron Technology Corp. 1,627,348 1,541,766
United Microelectronics Corp. 14,486,850 5,911,597
Vanguard International Semiconductor Corp. 1,118,000 2,132,555
Walsin Lihwa Corp. 3,404,000 1,695,943
Walsin Technology Corp. 573,000 2,881,993
Wistron Corp. 3,764,080 2,679,060
Yageo Corp. 484,000 3,996,014
Yuanta Financial Holding Co., Ltd. 14,286,700 8,021,793
Yulon Motor Co., Ltd. 1,068,192 805,896
    711,798,612
 
Thailand 3.7%
Advanced Info Service PCL NVDR 1,405,000 8,568,291
Airports of Thailand PCL NVDR 5,370,100 10,817,407
Bangkok Bank PCL NVDR 486,900 3,023,173
Bangkok Dusit Medical Services PCL NVDR 10,762,900 8,672,216
Bangkok Expressway & Metro PCL NVDR 10,137,982 3,619,850
Bangkok Life Assurance PCL NVDR 688,100 597,922
Banpu PCL NVDR 5,531,300 2,604,198
Berli Jucker PCL NVDR 1,220,650 1,726,016
BTS Group Holdings PCL NVDR 10,237,000 3,687,552
Bumrungrad Hospital PCL NVDR 393,700 2,083,727
Central Pattana PCL NVDR 3,187,200 7,175,543
Charoen Pokphand Foods PCL NVDR 4,337,800 3,803,585
CP ALL PCL NVDR 6,678,700 16,829,965
Delta Electronics Thailand PCL NVDR 301,721 605,396
Digital Telecommunications Infrastructure Fund 5,935,800 2,982,201
Electricity Generating PCL NVDR 297,300 2,790,050
Energy Absolute PCL NVDR 2,155,697 3,661,228
Global Power Synergy PCL NVDR 350,749 623,418
Gulf Energy Development PCL NVDR 761,194 2,477,383
Home Product Center PCL NVDR 7,768,819 4,148,607
Indorama Ventures PCL NVDR 2,213,500 3,217,347
Intouch Holdings PCL NVDR 2,450,700 4,472,010
IRPC PCL NVDR 13,563,400 2,031,456
Kasikornbank PCL NVDR 2,573,700 15,166,918
Krung Thai Bank PCL NVDR 8,213,000 4,956,736
Land & Houses PCL NVDR 8,600,400 2,880,614
Minor International PCL NVDR 4,496,880 5,506,094
Muangthai Capital PCL NVDR 643,166 1,092,351
PTT Exploration & Production PCL NVDR 1,719,604 6,819,190
PTT Global Chemical PCL NVDR 2,565,014 4,923,757
PTT PCL NVDR 18,080,800 26,423,477
Ratch Group PCL NVDR 1,175,900 2,285,105
Siam City Cement PCL NVDR 112,600 779,190
Thai Airways International PCL NVDR * 1,428,000 455,733
Thai Oil PCL NVDR 1,399,400 2,619,937
Thai Union Group PCL NVDR 3,745,900 2,142,374
The Siam Cement PCL NVDR 1,038,100 14,826,486
The Siam Commercial Bank PCL NVDR 3,069,800 12,561,469
TMB Bank PCL NVDR 28,122,800 1,679,504
Total Access Communication PCL NVDR 960,200 1,486,683
True Corp. PCL NVDR 13,539,966 2,104,957
    208,929,116
 
Security Number
of Shares 		Value ($)
Turkey 0.7%
Akbank T.A.S. * 3,255,524 3,336,052
Anadolu Efes Biracilik Ve Malt Sanayii A/S 300,330 990,696
Arcelik A/S * 267,479 798,452
Aselsan Elektronik Sanayi Ve Ticaret A/S 281,999 883,353
BIM Birlesik Magazalar A/S 282,790 3,862,186
Coca-Cola Icecek A/S 75,243 350,966
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 2,289,763 447,307
Enerjisa Enerji A/S 473,328 433,937
Enka Insaat ve Sanayi A/S 704,979 640,269
Eregli Demir ve Celik Fabrikalari T.A.S. 1,625,583 2,019,565
Ford Otomotiv Sanayi A/S 75,858 715,599
Haci Omer Sabanci Holding A/S 1,039,223 1,380,134
KOC Holding A/S 1,039,190 2,890,176
Koza Altin Isletmeleri A/S * 59,880 488,222
Petkim Petrokimya Holding A/S * 907,854 752,960
Soda Sanayii A/S 516,260 614,843
TAV Havalimanlari Holding A/S 229,151 998,964
Tekfen Holding A/S 214,744 915,550
Tofas Turk Otomobil Fabrikasi A/S 203,436 589,846
Tupras-Turkiye Petrol Rafinerileri A/S 160,914 3,612,234
Turk Hava YollariI AO * 724,379 1,550,383
Turk Telekomunikasyon A/S * 556,917 442,812
Turkcell Iletisim Hizmetleri A/S 1,297,341 2,587,724
Turkiye Garanti Bankasi A/S * 2,620,804 3,561,381
Turkiye Halk Bankasi A/S 753,816 684,624
Turkiye Is Bankasi A/S, C Shares * 1,590,803 1,395,716
Turkiye Sise ve Cam Fabrikalari A/S 825,922 735,958
Turkiye Vakiflar Bankasi T.A.O., Class D 1,251,124 791,111
Ulker Biskuvi Sanayi A/S 203,436 664,100
Yapi ve Kredi Bankasi A/S * 2,087,915 711,995
    39,847,115
 
United Arab Emirates 1.0%
Abu Dhabi Commercial Bank PJSC 3,132,934 7,659,401
Abu Dhabi Islamic Bank PJSC 742,862 904,030
Abu Dhabi National Oil Co. for Distribution PJSC 1,323,384 969,182
Air Arabia PJSC * 2,582,934 724,299
Aldar Properties PJSC 4,906,574 2,431,179
Arabtec Holding PJSC 969,054 406,290
DAMAC Properties Dubai Co. PJSC * 1,926,859 451,144
Dana Gas PJSC 4,836,004 1,303,434
DP World PLC 208,505 3,567,521
Dubai Financial Market PJSC * 2,663,322 515,538
Dubai Investments PJSC 2,867,082 999,119
Dubai Islamic Bank PJSC 2,169,873 2,977,365
Emaar Development PJSC 1,025,880 1,094,838
Emaar Malls PJSC 3,338,563 1,763,310
Emaar Properties PJSC 4,607,468 5,607,085
Emirates Telecommunications Group Co. PJSC 2,072,976 9,199,180
First Abu Dhabi Bank PJSC 3,451,530 13,963,610
    54,536,525
Total Common Stock
(Cost $5,135,615,620)   5,490,486,509

Preferred Stock 2.8% of net assets
 
Brazil 2.4%
Alpargatas S.A. 265,291 1,244,318
Azul S.A. * 234,948 2,352,841
Banco Bradesco S.A. 4,968,415 46,962,844
 
42

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
Security Number
of Shares 		Value ($)
Banco do Estado do Rio Grande do Sul S.A., Class B 251,006 1,522,939
Bradespar S.A. 294,169 2,307,119
Braskem S.A., A Shares * 227,965 2,491,402
Centrais Eletricas Brasileiras S.A., B Shares 255,731 2,330,351
Cia Brasileira de Distribuicao 193,835 4,318,504
Cia de Transmissao de Energia Electrica Paulista 230,633 1,331,572
Companhia Energetica de Minas Gerais 1,288,823 4,859,756
Companhia Paranaense de Energia, B Shares 151,860 1,862,170
Gerdau S.A. 1,262,867 4,474,751
Itausa - Investimentos Itau S.A. 5,445,906 17,237,578
Lojas Americanas S.A. 942,145 3,884,687
Petroleo Brasileiro S.A. 4,981,856 32,517,479
Telefonica Brasil S.A. 523,851 6,430,370
Usinas Siderurgicas de Minas Gerais S.A., A Shares 517,681 1,084,453
    137,213,134
 
Chile 0.1%
Embotelladora Andina S.A., B Shares 231,384 772,278
Sociedad Quimica y Minera de Chile S.A., B Shares 121,604 3,681,014
    4,453,292
 
Colombia 0.1%
Grupo Aval Acciones y Valores S.A. 5,110,976 1,781,808
Grupo de Inversiones Suramericana S.A. 90,921 817,384
    2,599,192
 
Russia 0.2%
Bashneft PJSC 10,290 270,198
Surgutneftegas PJSC 10,419,023 6,472,182
Tatneft PJSC * 145,281 1,303,356
Transneft PJSC 1,490 3,690,618
    11,736,354
Total Preferred Stock
(Cost $127,281,151)   156,001,972

Rights 0.0% of net assets
 
China 0.0%
China International Marine Containers Group Co., Ltd.
expires 05/03/19 *(b) 		6,585 —
Legend Holdings Corp.
expires 05/23/19 *(b) 		38,995 —
Total Rights
(Cost $—)   —
Security Number
of Shares 		Value ($)
Warrants 0.0% of net assets
 
Thailand 0.0%
Minor International PCL *(b) 222,244 21,910
Total Warrants
(Cost $—)   21,910

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 2.32% (c) 3,524,105 3,524,105
Securities Lending Collateral 0.1%
Wells Fargo Government Money Market Fund, Select Class 2.30% (c) 8,570,708 8,570,708
Total Other Investment Companies
(Cost $12,094,813)   12,094,813
    
  Number of
Contracts 		Notional
Amount
($) 		Current Value/
Unrealized
Appreciation
($)
Futures Contracts  
Long  
MSCI Emerging Markets Index, expires 06/21/19 234 11,702,340 98,452
* Non-income producing security.
(a) All or a portion of this security is on loan. Securities on loan were valued at $8,065,176.
(b) Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees.
(c) The rate shown is the 7-day yield.
   
ADR – American Depositary Receipt
DVR – Differential Voting Rights
GDR – Global Depositary Receipt
NVDR – Non-Voting Depositary Receipt
REIT – Real Estate Investment Trust
 
43

 

Schwab Emerging Markets Equity ETF
Portfolio Holdings (Unaudited) continued
The following is a summary of the inputs used to value the fund’s investments as of May 31, 2019:
Description Quoted Prices in
Active Markets for
Identical Assets
(Level 1) 		Other Significant
Observable Inputs
(Level 2) 		Significant
Unobservable Inputs
(Level 3) 		Total  
Assets          
Common Stock1 $3,666,398,201 $— $— $3,666,398,201  
China 1,801,453,187 — —* 1,801,453,187  
Greece 22,635,121 — —* 22,635,121  
Preferred Stock1 156,001,972 — — 156,001,972  
Rights1          
China — — —* —  
Warrants1          
Thailand — — 21,910 21,910  
Other Investment Companies1 12,094,813 — — 12,094,813  
Futures Contracts2 98,452 — — 98,452  
Total $5,658,681,746 $— $21,910 $5,658,703,656  
* Level 3 amount shown includes securities determined to have no value at May 31, 2019.
1 As categorized in Portfolio Holdings.
2 Futures contracts are valued at unrealized appreciation or depreciation.
Fund investments in underlying mutual funds are classified as Level 1, without consideration to the classification level of the investments held by the underlying mutual funds, which could be Level 1, Level 2 or Level 3.
44

 

Schwab International Equity ETFs
Notes to Portfolio Holdings
Under procedures approved by the funds’ 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 funds to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.
The funds value the securities in their portfolios every business day. The funds use 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 the mean of 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 each 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. Each 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 contracts are valued at their settlement prices as of the close of their exchanges.
•   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 funds disclose the fair value of their investments in a hierarchy that prioritizes the significant 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 funds determine 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 contracts. 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.
•  Level 3—significant unobservable inputs (including the funds’ 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 funds use one or more valuation techniques for which sufficient and reliable data is available. The inputs used by the funds 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 funds in the absence of market information. Assumptions used by the funds due to the lack of observable inputs may significantly impact the resulting fair value and therefore the funds’ results of operations.
45

 

Schwab International Equity ETFs
Notes to Portfolio Holdings (continued)
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
REG89451MAY19
46