(CHARLES SCHWAB ASSET MANAGMENT LOGO)
Semiannual Report | June 30, 2023
Schwab Fixed-Income ETFs
Schwab U.S. TIPS ETF
SCHP
Schwab Short-Term U.S. Treasury ETF
SCHO
Schwab Intermediate-Term U.S. Treasury ETF
SCHR
Schwab Long-Term U.S. Treasury ETF
SCHQ
Schwab U.S. Aggregate Bond ETF
SCHZ
Schwab 1-5 Year Corporate Bond ETF
SCHJ
Schwab 5-10 Year Corporate Bond ETF
SCHI

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In This Report
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Fund investment adviser: Charles Schwab Investment Management, Inc., dba Schwab Asset ManagementTM
Distributor: SEI Investments Distribution Co. (SIDCO)
Schwab Fixed-Income ETFs | Semiannual Report1

Schwab Fixed-Income ETFs
Performance at a Glance
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Total Returns for the 6 Months Ended June 30, 2023
Schwab U.S. TIPS ETF
(Ticker Symbol: SCHP)
Market Price Return1
2.05%
NAV Return1
2.01%
Bloomberg US Treasury Inflation-Linked Bond Index (Series-L)SM
1.87%
ETF Category: Morningstar Inflation-Protected Bond2
1.30%
Performance Details
page 4
 
Schwab Short-Term U.S. Treasury ETF
(Ticker Symbol: SCHO)
Market Price Return1
1.03%
NAV Return1
0.99%
Bloomberg US Treasury 1-3 Year Index
0.98%
ETF Category: Morningstar Short Government2
1.06%
Performance Details
page 5
 
Schwab Intermediate-Term U.S. Treasury ETF
(Ticker Symbol: SCHR)
Market Price Return1
1.34%
NAV Return1
1.32%
Bloomberg US Treasury 3-10 Year Index
1.19%
ETF Category: Morningstar Intermediate Government2
1.68%
Performance Details
page 6
 
Schwab Long-Term U.S. Treasury ETF
(Ticker Symbol: SCHQ)
Market Price Return1
4.53%
NAV Return1
4.29%
Bloomberg US Long Treasury Index
3.72%
ETF Category: Morningstar Long Government2
4.21%
Performance Details
page 7
Total Returns for the 6 Months Ended June 30, 2023
Schwab U.S. Aggregate Bond ETF
(Ticker Symbol: SCHZ)
Market Price Return1
2.41%
NAV Return1
2.21%
Bloomberg US Aggregate Bond Index
2.09%
ETF Category: Morningstar Intermediate Core Bond2
2.16%
Performance Details
page 8
 
Schwab 1-5 Year Corporate Bond ETF
(Ticker Symbol: SCHJ)
Market Price Return1
1.98%
NAV Return1
1.76%
Bloomberg US 1-5 Year Corporate Bond Index
1.75%
ETF Category: Morningstar Short-Term Bond2
1.76%
Performance Details
page 9
 
Schwab 5-10 Year Corporate Bond ETF
(Ticker Symbol: SCHI)
Market Price Return1
3.69%
NAV Return1
3.29%
Bloomberg US 5-10 Year Corporate Bond Index
3.14%
ETF Category: Morningstar Corporate Bond2
3.22%
Performance Details
page 10
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund(s) is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
U.S. Treasury Inflation-Protected Securities (TIPS) generally have lower yields than conventional fixed rate bonds and will likely decline in price during periods of deflation, which could result in losses.
Index ownership — Bloomberg Index Services Limited. BLOOMBERG® is a trademark and service mark of Bloomberg Finance L.P. and its affiliates (collectively Bloomberg). Bloomberg or Bloomberg’s licensors own all proprietary rights in the Bloomberg Indices. Neither Bloomberg nor Bloomberg’s licensors approves or endorses this material, or guarantees the accuracy or completeness of any information herein, or makes any warranty, express or implied, as to the results to be obtained therefrom and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
1
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
2
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
2Schwab Fixed-Income ETFs | Semiannual Report

Schwab Fixed-Income ETFs
Fund Management
Matthew Hastings, CFA, Managing Director and Head of Taxable Bond Strategies for Schwab Asset
Management, leads the portfolio management team for the Schwab Fixed-Income ETFs and Schwab Taxable
Bond Funds. He also has overall responsibility for all aspects of the management of the funds. Prior to joining
Schwab in 1999, Mr. Hastings was in fixed-income sales and trading at Lehman Brothers. He has worked in
the fixed-income securities industry since 1996.
Steven Hung, Senior Portfolio Manager for Schwab Asset Management, is responsible for the day-to-day
co-management of the Schwab U.S. Aggregate Bond ETF, Schwab 1-5 Year Corporate Bond ETF and Schwab
5-10 Year Corporate Bond ETF. He is primarily responsible for the management and oversight of corporate
bonds within the taxable bond strategies, with additional responsibility for managing municipal bond index
strategies. Mr. Hung has been a portfolio manager with Schwab Asset Management since 2005 and prior to
that, served in various roles as an associate portfolio manager and trader since 1999. In 1998, he joined
Charles Schwab & Co.’s management training program and worked as a clerk on the options trading floor of
the Pacific Coast Stock Exchange.
Mark McKissick, CFA, Senior Portfolio Manager for Schwab Asset Management, is responsible for the
day-to-day co-management of the Schwab U.S. TIPS ETF, Schwab Short-Term U.S. Treasury ETF, Schwab
Intermediate-Term U.S. Treasury ETF, Schwab Long-Term U.S. Treasury ETF and Schwab U.S. Aggregate Bond
ETF. Prior to joining Schwab in 2016, Mr. McKissick worked at Denver Investments for 17 years, most recently
as a director of fixed income and portfolio manager. In this role he co-managed multiple bond strategies, as
well as oversaw the firm’s fixed-income business including the investment process, client service and other
administrative functions. He also served as a credit/security analyst from 1999 to 2005. Prior to that, he
worked as a senior research analyst with Hotchkis & Wiley, a portfolio manager at Payden & Rygel, and a vice
president in fixed income at Salomon Brothers.
Alfonso Portillo, Jr., Senior Portfolio Manager for Schwab Asset Management, is responsible for the
day-to-day co-management of the Schwab U.S. Aggregate Bond ETF. His primary focus is securitized
products. Prior to joining Schwab in 2007, Mr. Portillo worked for ten years at Pacific Investment Management
Company, most recently as a vice president and member of the mortgage- and asset-backed portfolio
management team. He has worked in fixed-income asset management since 1996.
Schwab Fixed-Income ETFs | Semiannual Report3

Schwab U.S. TIPS ETF as of June 30, 2023
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
Fund and Inception Date
6 Months
1 Year
5 Years
10 Years
Fund: Schwab U.S. TIPS ETF (8/5/10)
Market Price Return2
2.05%
-1.36%
2.45%
2.04%
NAV Return2
2.01%
-1.45%
2.44%
2.02%
Bloomberg US Treasury Inflation-Linked Bond Index (Series-L)SM
1.87%
-1.40%
2.49%
2.08%
ETF Category: Morningstar Inflation-Protected Bond3
1.30%
-1.30%
2.17%
1.65%
Fund Expense Ratio4: 0.04%
Portfolio Composition % of Investments5
By Security Type

Weighted Average Maturity8
7.2 Yrs
Weighted Average Duration8
6.7 Yrs
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Treasury Inflation-Linked Bond Index (Series-L)SM are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab U.S. TIPS ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab U.S. TIPS ETF.
Portfolio holdings may have changed since the report date.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
TIPS generally have lower yields than conventional fixed rate bonds and will likely decline in price during periods of deflation, which could result in losses.
1
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
2
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
3
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
4
As stated in the prospectus.
5
The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
6
Less than 0.05%.
7
Includes the fund’s position in money market mutual funds registered under the Investment Company Act of 1940, as amended.
8
See Glossary for definitions of maturity and duration.
4Schwab Fixed-Income ETFs | Semiannual Report

Schwab Short-Term U.S. Treasury ETF as of June 30, 2023
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
Fund and Inception Date
6 Months
1 Year
5 Years
10 Years
Fund: Schwab Short-Term U.S. Treasury ETF (8/5/10)
Market Price Return2
1.03%
0.16%
0.88%
0.69%
NAV Return2
0.99%
0.10%
0.88%
0.68%
Bloomberg US Treasury 1-3 Year Index
0.98%
0.15%
0.93%
0.75%
ETF Category: Morningstar Short Government3
1.06%
-0.44%
0.51%
0.51%
Fund Expense Ratio4: 0.03%
Portfolio Composition % of Investments5
By Security Type

Weighted Average Maturity7
2.0 Yrs
Weighted Average Duration7
1.9 Yrs
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Treasury 1-3 Year Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab Short-Term U.S. Treasury ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab Short-Term U.S. Treasury ETF.
Portfolio holdings may have changed since the report date.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
1
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
2
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
3
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
4
As stated in the prospectus.
5
The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
6
Includes the fund’s position in money market mutual funds registered under the Investment Company Act of 1940, as amended.
7
See Glossary for definitions of maturity and duration.
Schwab Fixed-Income ETFs | Semiannual Report5

Schwab Intermediate-Term U.S. Treasury ETF as of June 30, 2023
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
Fund and Inception Date
6 Months
1 Year
5 Years
10 Years
Fund: Schwab Intermediate-Term U.S. Treasury ETF (8/5/10)
Market Price Return2
1.34%
-1.91%
0.70%
1.04%
NAV Return2
1.32%
-1.89%
0.70%
1.03%
Bloomberg US Treasury 3-10 Year Index
1.19%
-1.85%
0.75%
1.10%
ETF Category: Morningstar Intermediate Government3
1.68%
-1.96%
0.13%
0.74%
Fund Expense Ratio4: 0.03%
Portfolio Composition % of Investments5
By Security Type

Weighted Average Maturity7
5.6 Yrs
Weighted Average Duration7
5.1 Yrs
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Treasury 3-10 Year Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab Intermediate-Term U.S. Treasury ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab Intermediate-Term U.S. Treasury ETF.
Portfolio holdings may have changed since the report date.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
1
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
2
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
3
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
4
As stated in the prospectus.
5
The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
6
Includes the fund’s position in money market mutual funds registered under the Investment Company Act of 1940, as amended.
7
See Glossary for definitions of maturity and duration.
6Schwab Fixed-Income ETFs | Semiannual Report

Schwab Long-Term U.S. Treasury ETF as of June 30, 2023
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
Fund and Inception Date
6 Months
1 Year
3 Years
Since Inception*
Fund: Schwab Long-Term U.S. Treasury ETF (10/10/19)
Market Price Return2
4.53%
-6.87%
-12.05%
-6.34%
NAV Return2
4.29%
-6.83%
-12.10%
-6.37%
Bloomberg US Long Treasury Index
3.72%
-6.82%
-12.09%
-6.36%
ETF Category: Morningstar Long Government3
4.21%
-7.69%
-12.20%
N/A
Fund Expense Ratio4: 0.03%
Portfolio Composition % of Investments5
By Security Type

Weighted Average Maturity8
23.0 Yrs
Weighted Average Duration8
16.0 Yrs
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Long Treasury Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab Long-Term U.S. Treasury ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab Long-Term U.S. Treasury ETF.
Portfolio holdings may have changed since the report date.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
*
Inception (10/10/19) represents the date that the shares began trading in the secondary market.
1
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
2
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
3
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
4
As stated in the prospectus.
5
The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
6
Less than 0.05%.
7
Includes the fund’s position in money market mutual funds registered under the Investment Company Act of 1940, as amended.
8
See Glossary for definitions of maturity and duration.
Schwab Fixed-Income ETFs | Semiannual Report7

Schwab U.S. Aggregate Bond ETF as of June 30, 2023
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
Fund and Inception Date
6 Months
1 Year
5 Years
10 Years
Fund: Schwab U.S. Aggregate Bond ETF (7/14/11)
Market Price Return2
2.41%
-0.82%
0.72%
1.49%
NAV Return2
2.21%
-1.01%
0.71%
1.46%
Bloomberg US Aggregate Bond Index
2.09%
-0.94%
0.77%
1.52%
ETF Category: Morningstar Intermediate Core Bond3
2.16%
-0.89%
0.63%
1.36%
Fund Expense Ratio4: 0.03%
Portfolio Composition % of Investments5
By Security Type

Weighted Average Maturity8
8.6 Yrs
Weighted Average Duration8
6.3 Yrs
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US Aggregate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab U.S. Aggregate Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab U.S. Aggregate Bond ETF.
Portfolio holdings may have changed since the report date.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
1
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
2
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
3
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
4
As stated in the prospectus.
5
The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
6
The fund may seek to obtain exposure to U.S. agency mortgage pass-through securities, in part or in full, through the use of “to-be-announced” or “TBA” transactions, which are standardized contracts for future delivery of mortgage pass-through securities in which the exact mortgage pools to be delivered are not specified until a few days prior to settlement. These transactions represented approximately 1.8% of total investments on June 30, 2023.
7
Includes the fund’s position in money market mutual funds registered under the Investment Company Act of 1940, as amended.
8
See Glossary for definitions of maturity and duration.
8Schwab Fixed-Income ETFs | Semiannual Report

Schwab 1-5 Year Corporate Bond ETF as of June 30, 2023
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
Fund and Inception Date
6 Months
1 Year
3 Years
Since Inception*
Fund: Schwab 1-5 Year Corporate Bond ETF (10/10/19)
Market Price Return2
1.98%
1.77%
-0.98%
0.28%
NAV Return2
1.76%
1.66%
-0.92%
0.26%
Bloomberg US 1-5 Year Corporate Bond Index
1.75%
1.72%
-0.82%
0.35%
ETF Category: Morningstar Short-Term Bond3
1.76%
1.42%
-0.40%
N/A
Fund Expense Ratio4: 0.03%
Portfolio Composition % of Investments5
By Security Type

Weighted Average Maturity7
3.0 Yrs
Weighted Average Duration7
2.7 Yrs
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US 1-5 Year Corporate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab 1-5 Year Corporate Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab 1-5 Year Corporate Bond ETF.
Portfolio holdings may have changed since the report date.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
*
Inception (10/10/19) represents the date that the shares began trading in the secondary market.
1
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
2
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
3
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
4
As stated in the prospectus.
5
The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
6
Includes the fund’s position in money market mutual funds registered under the Investment Company Act of 1940, as amended.
7
See Glossary for definitions of maturity and duration.
Schwab Fixed-Income ETFs | Semiannual Report9

Schwab 5-10 Year Corporate Bond ETF as of June 30, 2023
The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance data quoted. To obtain performance information current to the most recent month end, please visit www.schwabassetmanagement.com/schwabetfs_prospectus.
Average Annual Total Returns1
Fund and Inception Date
6 Months
1 Year
3 Years
Since Inception*
Fund: Schwab 5-10 Year Corporate Bond ETF (10/10/19)
Market Price Return2
3.69%
2.22%
-3.14%
-0.92%
NAV Return2
3.29%
1.94%
-3.15%
-0.97%
Bloomberg US 5-10 Year Corporate Bond Index
3.14%
2.02%
-3.04%
-0.89%
ETF Category: Morningstar Corporate Bond3
3.22%
1.58%
-3.04%
N/A
Fund Expense Ratio4: 0.03%
Portfolio Composition % of Investments5
By Security Type

Weighted Average Maturity7
7.5 Yrs
Weighted Average Duration7
6.2 Yrs
All total returns on this page assume dividends and distributions were reinvested. Index figures do not include trading and management costs, which would lower performance. Indices are unmanaged and cannot be invested in directly. Performance results less than one year are not annualized.
For index definitions, please see the Glossary.
Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Brokerage commissions will reduce returns.
Index ownership — Bloomberg® and Bloomberg US 5-10 Year Corporate Bond Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (BISL), the administrator of the indices (collectively, Bloomberg). Bloomberg is not affiliated with Charles Schwab Investment Management, Inc., and Bloomberg does not approve, endorse, review, or recommend Schwab 5-10 Year Corporate Bond ETF. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to Schwab 5-10 Year Corporate Bond ETF.
Portfolio holdings may have changed since the report date.
An index is a statistical composite of a specified financial market or sector. Unlike the fund, an index does not actually hold a portfolio of securities and its return is not inclusive of operational and transaction costs incurred by the fund.
Fixed-income securities are subject to increased loss of principal during periods of rising interest rates. An investment in the fund is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.
*
Inception (10/10/19) represents the date that the shares began trading in the secondary market.
1
Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares.
2
ETF performance must be shown based on both a Market Price and a NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the fair value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price of the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively.
3
Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs and mutual funds within the category as of the report date.
4
As stated in the prospectus.
5
The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets.
6
Includes the fund’s position in money market mutual funds registered under the Investment Company Act of 1940, as amended.
7
See Glossary for definitions of maturity and duration.
10Schwab Fixed-Income ETFs | Semiannual Report

Schwab Fixed-Income ETFs
Fund Expenses (Unaudited)
Examples for a $1,000 Investment
As a fund shareholder, you may incur two types of costs: (1) transaction costs, including brokerage commissions on purchases and sales of fund shares; and, (2) ongoing costs, including management fees.
The expense examples below are intended to help you understand your ongoing cost (in dollars) of investing in a fund and to compare this cost with the ongoing cost of investing in other mutual funds. These examples are based on an investment of $1,000 invested for six months beginning January 1, 2023 and held through June 30, 2023.
Actual Return lines in the table below provide information about actual account values and actual expenses. You may use this information, together with the amount you invested, to estimate the expenses that you paid over the period. To do so, simply divide your account value by $1,000 (for example, an $8,600 account value ÷ $1,000 = 8.6), then multiply the result by the number given for your fund under the heading entitled “Expenses Paid During Period.”
Hypothetical Return lines in the table below provide information about hypothetical account values and hypothetical expenses based on a fund’s actual expense ratio and an assumed return of 5% per year before expenses. Because the return used is not an actual return, it may not be used to estimate the actual ending account value or expenses you paid for the period.
You may use this information to compare the ongoing costs of investing in a fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, including any brokerage commissions you may pay when purchasing or selling shares of a fund. Therefore, the hypothetical return lines of the table are useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
 
EXPENSE RATIO
(ANNUALIZED) 1
BEGINNING
ACCOUNT VALUE
AT 1/1/23
ENDING
ACCOUNT VALUE
(NET OF EXPENSES)
AT 6/30/23
EXPENSES PAID
DURING PERIOD
1/1/23-6/30/23 2
Schwab U.S. TIPS ETF
Actual Return
0.04%
$1,000.00
$1,020.10
$0.20
Hypothetical 5% Return
0.04%
$1,000.00
$1,024.60
$0.20
Schwab Short-Term U.S. Treasury ETF
Actual Return
0.03%
$1,000.00
$1,009.90
$0.15
Hypothetical 5% Return
0.03%
$1,000.00
$1,024.65
$0.15
Schwab Intermediate-Term U.S. Treasury ETF
Actual Return
0.03%
$1,000.00
$1,013.20
$0.15
Hypothetical 5% Return
0.03%
$1,000.00
$1,024.65
$0.15
Schwab Long-Term U.S. Treasury ETF
Actual Return
0.03%
$1,000.00
$1,042.90
$0.15
Hypothetical 5% Return
0.03%
$1,000.00
$1,024.65
$0.15
Schwab U.S. Aggregate Bond ETF
Actual Return
0.03%
$1,000.00
$1,022.10
$0.15
Hypothetical 5% Return
0.03%
$1,000.00
$1,024.65
$0.15
Schwab 1-5 Year Corporate Bond ETF 
Actual Return
0.03%
$1,000.00
$1,017.60
$0.15
Hypothetical 5% Return
0.03%
$1,000.00
$1,024.65
$0.15
Schwab 5-10 Year Corporate Bond ETF
Actual Return
0.03%
$1,000.00
$1,032.90
$0.15
Hypothetical 5% Return
0.03%
$1,000.00
$1,024.65
$0.15
1
Based on the most recent six-month expense ratio.
2
Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days in the period, and divided
by 365 days in the fiscal year.
Schwab Fixed-Income ETFs | Semiannual Report11

Schwab U.S. TIPS ETF
Financial Statements
FINANCIAL HIGHLIGHTS
 
1/1/23–
6/30/23*
1/1/22–
12/31/22
1/1/21–
12/31/21
1/1/20–
12/31/20
1/1/19–
12/31/19
1/1/18–
12/31/18
Per-Share Data
Net asset value at beginning of period
$51.77
$62.83
$62.06
$56.57
$53.27
$55.39
Income (loss) from investment operations:
Net investment income (loss)1
0.77
3.62
2.93
0.81
1.21
1.51
Net realized and unrealized gains (losses)
0.27
(10.95
)
0.60
5.37
3.23
(2.23
)
Total from investment operations
1.04
(7.33
)
3.53
6.18
4.44
(0.72
)
Less distributions:
Distributions from net investment income
(0.42
)
(3.73
)
(2.76
)
(0.69
)
(1.14
)
(1.40
)
Net asset value at end of period
$52.39
$51.77
$62.83
$62.06
$56.57
$53.27
Total return
2.01
%2
(11.96
%)
5.80
%
10.94
%
8.36
%
(1.31
%)
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses
0.04
%3
0.05
%4,5
0.05
%
0.05
%
0.05
%
0.05
%
Net investment income (loss)
2.92
%3
6.34
%
4.69
%
1.36
%
2.18
%
2.80
%
Portfolio turnover rate6
11
%2
18
%
19
%
23
%
20
%
17
%
Net assets, end of period (x 1,000,000)
$11,480
$13,832
$21,304
$14,090
$8,734
$5,779
*
Unaudited.
1
Calculated based on the average shares outstanding during the period.
2
Not annualized.
3
Annualized.
4
Effective July 1, 2022, the annual operating expense ratio was reduced to 0.03%. The ratio presented for the period ended December 31, 2022 is a blended ratio.
5
Ratio includes less than 0.005% of non-routine proxy expenses.
6
Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes
12Schwab Fixed-Income ETFs | Semiannual Report

Schwab U.S. TIPS ETF
Portfolio Holdings  as of June 30, 2023 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to [email protected]. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
For fixed rate securities, the rate shown is the interest rate (the rate established when the security was issued). The maturity date shown for all the securities is the final legal maturity. Inflation-protected securities are fixed-income securities whose principal value is periodically adjusted by the rate of inflation. The interest rate on these instruments is generally lower at issuance than typical bonds or notes. Over the life of an inflation-indexed instrument interest will be paid based on a principal value, which is adjusted for any inflation or deflation.
SECURITY
RATE, MATURITY DATE
FACE
AMOUNT ($)
VALUE ($)
TREASURIES 99.7% OF NET ASSETS
U.S. Treasury Inflation Protected Securities
0.13%, 07/15/24
387,120,704
375,646,377
0.13%, 10/15/24
345,324,285
333,160,620
0.25%, 01/15/25
354,016,160
339,404,752
2.38%, 01/15/25
241,309,216
238,887,716
0.13%, 04/15/25
282,882,057
269,186,883
0.38%, 07/15/25
388,207,383
371,614,980
0.13%, 10/15/25
344,154,938
326,440,086
0.63%, 01/15/26
326,846,811
311,774,368
2.00%, 01/15/26
155,740,594
153,716,203
0.13%, 04/15/26
265,810,782
249,309,020
0.13%, 07/15/26
325,777,143
306,089,146
0.13%, 10/15/26
367,870,111
344,073,543
0.38%, 01/15/27
303,371,916
284,721,954
2.38%, 01/15/27
150,568,843
151,404,255
0.13%, 04/15/27
375,789,576
347,897,696
0.38%, 07/15/27
334,461,044
313,612,766
1.63%, 10/15/27
376,834,512
371,421,296
0.50%, 01/15/28
341,558,651
319,611,226
1.75%, 01/15/28
141,565,848
139,995,896
1.25%, 04/15/28
372,711,416
360,761,632
3.63%, 04/15/28
144,940,449
155,658,279
0.75%, 07/15/28
297,318,538
281,941,768
0.88%, 01/15/29
255,016,003
241,549,118
2.50%, 01/15/29
130,716,420
134,733,271
3.88%, 04/15/29
168,158,129
185,904,187
0.25%, 07/15/29
301,304,038
275,322,459
0.13%, 01/15/30
340,355,739
305,493,179
0.13%, 07/15/30
376,873,988
338,083,219
0.13%, 01/15/31
390,067,923
346,875,549
0.13%, 07/15/31
398,620,572
353,792,201
0.13%, 01/15/32
435,019,416
383,260,906
3.38%, 04/15/32
60,552,695
68,949,690
0.63%, 07/15/32
451,501,813
415,310,127
SECURITY
RATE, MATURITY DATE
FACE
AMOUNT ($)
VALUE ($)
1.13%, 01/15/33
440,540,466
422,580,587
2.13%, 02/15/40
79,241,970
85,166,812
2.13%, 02/15/41
114,249,734
122,731,034
0.75%, 02/15/42
185,209,152
157,589,258
0.63%, 02/15/43
145,435,091
119,469,509
1.38%, 02/15/44
200,041,609
188,626,079
0.75%, 02/15/45
220,178,623
182,266,242
1.00%, 02/15/46
113,367,960
98,527,573
0.88%, 02/15/47
138,945,378
116,747,875
1.00%, 02/15/48
101,003,950
87,010,492
1.00%, 02/15/49
94,610,273
81,484,500
0.25%, 02/15/50
143,013,489
100,165,760
0.13%, 02/15/51
143,946,772
96,184,145
0.13%, 02/15/52
166,871,792
110,845,494
1.50%, 02/15/53
84,538,381
82,376,640
Total Treasuries
(Cost $13,132,653,106)
11,447,376,368
SECURITY
NUMBER
OF SHARES
VALUE ($)
SHORT-TERM INVESTMENTS 0.0% OF NET ASSETS
 
Money Market Funds 0.0%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 5.03% (a)
571,009
571,009
Total Short-Term Investments
(Cost $571,009)
571,009
Total Investments in Securities
(Cost $13,133,224,115)
11,447,947,377
(a)
The rate shown is the annualized 7-day yield.
See financial notes
Schwab Fixed-Income ETFs | Semiannual Report13

Schwab U.S. TIPS ETF
Portfolio Holdings  as of June 30, 2023 (Unaudited) (continued)
The following is a summary of the inputs used to value the fund’s investments as of June 30, 2023 (see financial note 2(a) for additional information):
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Treasuries1
$
$11,447,376,368
$
$11,447,376,368
Short-Term Investments1
571,009
571,009
Total
$571,009
$11,447,376,368
$—
$11,447,947,377
1
As categorized in the Portfolio Holdings.
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying
securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
See financial notes
14Schwab Fixed-Income ETFs | Semiannual Report

Schwab U.S. TIPS ETF
Statement of Assets and Liabilities
As of June 30, 2023; unaudited
Assets
Investments in securities, at value - unaffiliated (cost $13,133,224,115)
 
$11,447,947,377
Receivables:
 
Investments sold
 
195,508,588
Interest
 
31,954,353
Dividends
+
26,781
Total assets
 
11,675,437,099
 
Liabilities
Payables:
 
Investments bought
 
169,327,872
Fund shares redeemed
 
26,196,849
Management fees
+
389,053
Total liabilities
 
195,913,774
Net assets
 
$11,479,523,325
 
Net Assets by Source
Capital received from investors
 
$13,826,278,075
Total distributable loss
+
(2,346,754,750
)
Net assets
 
$11,479,523,325
Net Asset Value (NAV)
Net Assets
÷
Shares
Outstanding
=
NAV
$11,479,523,325
 
219,100,000
$52.39
 
 
 
 
See financial notes
Schwab Fixed-Income ETFs | Semiannual Report15

Schwab U.S. TIPS ETF
Statement of Operations
For the period January 1, 2023 through June 30, 2023; unaudited
Investment Income
Interest received from securities - unaffiliated
 
$191,183,752
*
Dividends received from securities - unaffiliated
+
144,075
Total investment income
 
191,327,827
 
Expenses
Management fees
 
2,587,139
Total expenses
2,587,139
Net investment income
 
188,740,688
 
REALIZED AND UNREALIZED GAINS (LOSSES)
Net realized losses on sales of securities - unaffiliated
 
(152,792,856
)
Net realized losses on sales of in-kind redemptions - unaffiliated
+
(222,276,284
)
Net realized losses
 
(375,069,140
)
Net change in unrealized appreciation (depreciation) on securities - unaffiliated
+
478,325,751
Net realized and unrealized gains
 
103,256,611
Increase in net assets resulting from operations
 
$291,997,299
*
See financial note 2(b), Inflation-Protected Securities, for additional information.
See financial notes
16Schwab Fixed-Income ETFs | Semiannual Report

Schwab U.S. TIPS ETF
Statement of Changes in Net Assets
For the current and prior report periods
Figures for the current period are unaudited
OPERATIONS
 
1/1/23-6/30/23
1/1/22-12/31/22
Net investment income
 
$188,740,688
$1,070,635,987
Net realized losses
 
(375,069,140
)
(386,638,993
)
Net change in unrealized appreciation (depreciation)
+
478,325,751
(2,910,566,700
)
Increase (decrease) in net assets resulting from operations
 
$291,997,299
($2,226,569,706
)
 
DISTRIBUTIONS TO SHAREHOLDERS
Total distributions
 
($97,716,085
)
($1,069,955,140
)
TRANSACTIONS IN FUND SHARES
 
1/1/23-6/30/23
1/1/22-12/31/22
 
 
SHARES
VALUE
SHARES
VALUE
Shares sold
 
49,000,000
$2,596,495,641
120,550,000
$7,032,380,314
Shares redeemed
+
(97,100,000
)
(5,143,565,293
)
(192,400,000
)
(11,207,272,315
)
Net transactions in fund shares
 
(48,100,000
)
($2,547,069,652
)
(71,850,000
)
($4,174,892,001
)
 
SHARES OUTSTANDING AND NET ASSETS
 
1/1/23-6/30/23
1/1/22-12/31/22
 
 
SHARES
NET ASSETS
SHARES
NET ASSETS
Beginning of period
 
267,200,000
$13,832,311,763
339,050,000
$21,303,728,610
Total decrease
+
(48,100,000
)
(2,352,788,438
)
(71,850,000
)
(7,471,416,847
)
End of period
 
219,100,000
$11,479,523,325
267,200,000
$13,832,311,763
See financial notes
Schwab Fixed-Income ETFs | Semiannual Report17

Schwab Short-Term U.S. Treasury ETF
Financial Statements
FINANCIAL HIGHLIGHTS
 
1/1/23–
6/30/23*
1/1/22–
12/31/22
1/1/21–
12/31/21
1/1/20–
12/31/20
1/1/19–
12/31/19
1/1/18–
12/31/18
Per-Share Data
Net asset value at beginning of period
$48.24
$50.84
$51.39
$50.48
$49.88
$50.03
Income (loss) from investment operations:
Net investment income (loss)1
0.84
0.68
0.21
0.65
1.14
0.94
Net realized and unrealized gains (losses)
(0.36
)
(2.64
)
(0.55
)
0.91
0.60
(0.20
)2
Total from investment operations
0.48
(1.96
)
(0.34
)
1.56
1.74
0.74
Less distributions:
Distributions from net investment income
(0.68
)
(0.64
)
(0.21
)
(0.65
)
(1.14
)
(0.89
)
Net asset value at end of period
$48.04
$48.24
$50.84
$51.39
$50.48
$49.88
Total return
0.99
%3
(3.85
%)
(0.66
%)
3.11
%
3.53
%
1.50
%
Ratios/Supplemental Data
Ratios to average net assets:
Total expenses
0.03
%4
0.04
%5,6
0.05
%7
0.05
%
0.06
%8
0.06
%
Net investment income (loss)
3.51
%4
1.39
%
0.41
%
1.26
%
2.27
%
1.89
%
Portfolio turnover rate9
32
%3
106
%
73
%
74
%
77
%
65
%
Net assets, end of period (x 1,000,000)
$14,400
$10,256
$8,956
$7,508
$5,263
$4,255
*
Unaudited.
1
Calculated based on the average shares outstanding during the period.
2
The per share amount does not accord with the change in aggregate gains and losses in securities during the period because of the timing of fund transactions in relation to
fluctuating market values.
3
Not annualized.
4
Annualized.
5
Effective July 1, 2022, the annual operating expense ratio was reduced to 0.03%. The ratio presented for the period ended December 31, 2022 is a blended ratio.
6
Ratio includes less than 0.005% of non-routine proxy expenses.
7
Effective December 20, 2021, the annual operating expense ratio was reduced to 0.04%. The ratio presented for period ended December 31, 2021 is a blended ratio.
8
Effective December 13, 2019, the annual operating expense ratio was reduced to 0.05%. The ratio presented for the period ended December 31, 2019 is a blended ratio.
9
Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions.
See financial notes
18Schwab Fixed-Income ETFs | Semiannual Report

Schwab Short-Term U.S. Treasury ETF
Portfolio Holdings  as of June 30, 2023 (Unaudited)
This section shows all the securities in the fund’s portfolio and their values as of the report date.
The fund files its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year on Form N-PORT Part F. The fund’s Form N-PORT Part F is available on the SEC’s website at www.sec.gov. You can also obtain this information at no cost on the fund’s website at www.schwabassetmanagement.com/schwabetfs_prospectus, by calling 1-866-414-6349, or by sending an email request to [email protected]. The fund also makes available its complete schedule of portfolio holdings on a daily basis on the fund’s website.
For fixed rate securities, the rate shown is the interest rate (the rate established when the security was issued). All securities are currently in a fixed rate coupon period based on index eligibility requirements and the fund’s investment objective. Variable rate securities are subject to index requirements and will be removed from the index and fund prior to converting from a fixed rate coupon to a variable rate coupon. The maturity date shown for all the securities is the final legal maturity.
SECURITY
RATE, MATURITY DATE
FACE
AMOUNT ($)
VALUE ($)
TREASURIES 99.4% OF NET ASSETS
Bonds
7.50%, 11/15/24
14,200,000
14,637,648
7.63%, 02/15/25
13,720,000
14,262,637
6.88%, 08/15/25
13,976,000
14,566,158
6.00%, 02/15/26
26,216,000
27,097,718
Notes
0.38%, 07/15/24
139,694,000
132,701,115
1.75%, 07/31/24
141,085,000
135,736,445
2.13%, 07/31/24
92,665,000
89,506,789
3.00%, 07/31/24
189,003,000
184,266,851
0.38%, 08/15/24
211,860,000
200,480,800
2.38%, 08/15/24
253,390,000
245,268,653
1.25%, 08/31/24
126,821,000
120,987,730
1.88%, 08/31/24
104,758,000
100,680,213
3.25%, 08/31/24
183,693,000
179,319,529
0.38%, 09/15/24
242,291,000
228,411,321
1.50%, 09/30/24
132,198,000
126,166,466
2.13%, 09/30/24
91,065,000
87,584,253
4.25%, 09/30/24
173,770,000
171,499,450
0.63%, 10/15/24
243,520,000
229,479,550
1.50%, 10/31/24
124,465,000
118,465,399
2.25%, 10/31/24
91,435,000
87,884,751
4.38%, 10/31/24
176,795,000
174,688,654
0.75%, 11/15/24
224,626,000
211,319,542
2.25%, 11/15/24
244,126,000
234,480,162
1.50%, 11/30/24
144,925,000
137,630,631
2.13%, 11/30/24
96,625,000
92,565,618
4.50%, 11/30/24
176,699,000
174,849,182
1.00%, 12/15/24
223,937,000
210,802,571
1.75%, 12/31/24
129,696,000
123,325,191
2.25%, 12/31/24
104,819,000
100,394,901
4.25%, 12/31/24
174,339,000
171,931,624
1.13%, 01/15/25
213,023,000
200,374,759
1.38%, 01/31/25
117,369,000
110,718,854
2.50%, 01/31/25
108,520,000
104,174,961
4.13%, 01/31/25
174,976,000
172,255,671
1.50%, 02/15/25
198,250,000
187,156,519
2.00%, 02/15/25
219,945,000
209,385,922
1.13%, 02/28/25
135,455,000
126,991,708
2.75%, 02/28/25
110,490,000
106,467,473
4.63%, 02/28/25
173,871,000
172,536,404
1.75%, 03/15/25
196,009,000
185,442,890
0.50%, 03/31/25
159,631,000
147,680,500
2.63%, 03/31/25
66,660,000
63,992,298
3.88%, 03/31/25
151,528,000
148,565,509
2.63%, 04/15/25
166,518,000
159,746,702
0.38%, 04/30/25
176,337,000
162,278,258
2.88%, 04/30/25
102,846,000
99,045,519
3.88%, 04/30/25
161,232,000
158,108,130
2.13%, 05/15/25
213,165,000
202,460,954
2.75%, 05/15/25
189,267,000
181,818,308
SECURITY
RATE, MATURITY DATE
FACE
AMOUNT ($)
VALUE ($)
0.25%, 05/31/25
172,820,000
158,177,556
2.88%, 05/31/25
93,529,000
90,032,623
4.25%, 05/31/25
174,276,000
172,094,146
2.88%, 06/15/25
183,667,000
176,704,155
0.25%, 06/30/25
178,518,000
163,068,522
2.75%, 06/30/25
73,720,000
70,738,084
4.63%, 06/30/25
173,000,000
172,216,094
3.00%, 07/15/25
155,610,000
149,999,530
0.25%, 07/31/25
190,195,000
173,077,450
2.88%, 07/31/25
89,937,000
86,458,968
2.00%, 08/15/25
228,596,000
215,674,968
3.13%, 08/15/25
177,423,000
171,379,529
0.25%, 08/31/25
186,310,000
169,098,159
2.75%, 08/31/25
92,270,000
88,406,194
3.50%, 09/15/25
169,926,000
165,345,964
0.25%, 09/30/25
219,282,000
198,647,222
3.00%, 09/30/25
92,628,000
89,158,068
4.25%, 10/15/25
167,280,000
165,437,307
0.25%, 10/31/25
222,144,000
200,537,026
3.00%, 10/31/25
81,247,000
78,158,979
2.25%, 11/15/25
245,121,000
231,639,345
4.50%, 11/15/25
168,784,000
167,946,673
0.38%, 11/30/25
211,004,000
190,513,534
2.88%, 11/30/25
99,548,000
95,437,757
4.00%, 12/15/25
158,572,000
156,112,896
0.38%, 12/31/25
228,958,000
206,402,061
2.63%, 12/31/25
90,065,000
85,800,985
3.88%, 01/15/26
166,731,000
163,656,897
0.38%, 01/31/26
244,317,000
219,389,031
2.63%, 01/31/26
105,748,000
100,663,008
1.63%, 02/15/26
211,757,000
196,263,998
4.00%, 02/15/26
162,927,000
160,457,638
0.50%, 02/28/26
244,526,000
219,710,433
2.50%, 02/28/26
109,372,000
103,694,055
4.63%, 03/15/26
163,554,000
163,758,443
0.75%, 03/31/26
226,574,000
204,828,207
2.25%, 03/31/26
106,534,000
100,275,128
3.75%, 04/15/26
164,614,000
161,141,673
0.75%, 04/30/26
230,057,000
207,222,046
2.38%, 04/30/26
78,616,000
74,156,999
1.63%, 05/15/26
211,540,000
195,277,863
3.63%, 05/15/26
166,188,000
162,163,134
0.75%, 05/31/26
242,760,000
218,095,205
2.13%, 05/31/26
94,660,000
88,555,169
4.13%, 06/15/26
170,000,000
168,273,438
0.88%, 06/30/26
212,000,000
191,040,156
1.88%, 06/30/26
97,000,000
90,039,492
Total Treasuries
(Cost $14,586,990,116)
14,317,118,699
See financial notes
Schwab Fixed-Income ETFs | Semiannual Report19

Schwab Short-Term U.S. Treasury ETF
Portfolio Holdings  as of June 30, 2023 (Unaudited) (continued)
SECURITY
NUMBER
OF SHARES
VALUE ($)
SHORT-TERM INVESTMENTS 0.2% OF NET ASSETS
 
Money Market Funds 0.2%
State Street Institutional
U.S. Government Money Market
Fund, Premier Class 5.03% (a)
22,719,575
22,719,575
Total Short-Term Investments
(Cost $22,719,575)
22,719,575
Total Investments in Securities
(Cost $14,609,709,691)
14,339,838,274
(a)
The rate shown is the annualized 7-day yield.

The following is a summary of the inputs used to value the fund’s investments as of June 30, 2023 (see financial note 2(a) for additional information):
DESCRIPTION
QUOTED PRICES IN
ACTIVE MARKETS FOR
IDENTICAL ASSETS
(LEVEL 1)
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
SIGNIFICANT
UNOBSERVABLE INPUTS
(LEVEL 3)
TOTAL
Assets
Treasuries1
$
$14,317,118,699
$
$14,317,118,699
Short-Term Investments1
22,719,575
22,719,575
Total
$22,719,575
$14,317,118,699
$—
$14,339,838,274
1
As categorized in the Portfolio Holdings.
Fund investments in mutual funds are classified as Level 1, without consideration to the classification level of the underlying
securities held by the mutual funds, which could be Level 1, Level 2 or Level 3.
See financial notes
20Schwab Fixed-Income ETFs | Semiannual Report

Schwab Short-Term U.S. Treasury ETF
Statement of Assets and Liabilities
As of June 30, 2023; unaudited
Assets
Investments in securities, at value - unaffiliated (cost $14,609,709,691)
 
$14,339,838,274
Receivables:
 
Investments sold
 
636,394,467
Interest
 
71,950,834
Fund shares sold
 
4,803,924
Dividends
+
52,615
Total assets
 
15,053,040,114
 
Liabilities
Payables:
 
Investments bought
 
626,538,143
Fund shares redeemed
 
26,421,510
Management fees
+
354,543
Total liabilities
 
653,314,196
Net assets
 
$14,399,725,918
 
Net Assets by Source