Schwab Municipal Bond ETF
Summary
Objective
The fund’s goal is to track as closely as possible, before fees and expenses, the total return of an index that measures the performance of the U.S. AMT-free municipal bond market.
Highlights
- Simple access to the U.S. investment grade, tax-exempt bond market
- Seeks to provide income exempt from federal taxes and not subject to AMT
- The Fund can serve as part of the core of a diversified portfolio
- A straightforward, low-cost fund offering potential tax-efficiency
Fund Details
Quote Details
- Today's Opening Value$49.63
- Today's Volume (shares)21,603
- Previous Close Value$49.53
- Median Bid/Ask Spread0.06%08/29/2023 - 09/28/2023
- Bid/Ask Midpoint$49.54As of 09/28/2023
- Premium/Discount0.35%As of 09/28/2023
Fund Profile
| Fund Inception | 10/12/2022 | |
|---|---|---|
| Total Net Assets As of 09/28/2023
|
09/28/2023 | $153,026,677.16 |
| Total Expense Ratio | 0.030% | |
| Index Name | ICE AMT-Free Core U.S. National Municipal Index | |
| Shares Outstanding As of 09/28/2023
|
09/28/2023 | 3,100,000 |
| NAV As of 09/28/2023
|
09/28/2023 | $49.36 |
| Total Holdings As of 09/29/2023
|
09/29/2023 | 962 |
| Portfolio Turnover Rate As of 08/31/2023
|
08/31/2023 | 36.97% |
| Morningstar Category | Muni National Interm | |
| Management Style | Passive | |
| CUSIP | 808524649 | |
| Exchange | NYSE Arca, Inc. |
Yields
| SEC Yield (30 Day) As of 09/27/2023
|
09/27/2023 | 3.83% |
|---|---|---|
| Distribution Yield (TTM) As of 08/31/2023
|
08/31/2023 | 0.00% |
| Average Yield to Maturity As of 06/30/2023
|
06/30/2023 | 3.83% |
Fund Characteristics
| Weighted Average Maturity As of 06/30/2023
|
06/30/2023 | 7.3 years |
|---|---|---|
| Weighted Average Coupon As of 06/30/2023
|
06/30/2023 | 4.65% |
| Effective Duration As of 06/30/2023
|
06/30/2023 | 6.1 years |
| Standard Deviation (3 Yr) | -- |
Performance
Total Return
Monthly
-
SCMB Market Price
Cumulative Returns (%)
- 1 Month
- -1.23
- 3 Month
- -0.40
- YTD
- +1.13
Annualized Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- --
-
SCMB NAV
Cumulative Returns (%)
- 1 Month
- -1.15
- 3 Month
- -0.07
- YTD
- +1.49
Annualized Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- --
-
ICE AMT-Free Core U.S. National Municipal Index (Index)
Cumulative Returns (%)
- 1 Month
- -1.17
- 3 Month
- -0.10
- YTD
- +1.78
Annualized Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
-
Muni National Interm (Morningstar Category)
Cumulative Returns (%)
- 1 Month
- -0.93
- 3 Month
- +0.11
- YTD
- +1.57
Annualized Returns (%)
- 1 Year
- +1.53
- 3 Year
- -1.17
- 5 Year
- +1.20
- 10 Year
- +2.21
| Description | Cumulative Returns (%) | Annualized Returns (%) | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 Month | 3 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SCMB Market Price | -1.23 | -0.40 | +1.13 | -- | -- | -- | -- | -- | |
| SCMB NAV | -1.15 | -0.07 | +1.49 | -- | -- | -- | -- | -- | |
| ICE AMT-Free Core U.S. National Municipal Index (Index) | -1.17 | -0.10 | +1.78 | -- | -- | -- | -- | ||
| Muni National Interm (Morningstar Category) | -0.93 | +0.11 | +1.57 | +1.53 | -1.17 | +1.20 | +2.21 | ||
Annualized returns for periods 1 yr+/cumulative returns for periods less than 1 yr.
The performance quoted represents past performance and does not guarantee future results. Investment return 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 quoted.
Quarterly
-
SCMB Market Price
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- --
-
SCMB NAV
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- --
-
ICE AMT-Free Core U.S. National Municipal Index (Index)
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
-
Muni National Interm (Morningstar Category)
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SCMB Market Price | -- | -- | -- | -- | -- | |
| SCMB NAV | -- | -- | -- | -- | -- | |
| ICE AMT-Free Core U.S. National Municipal Index (Index) | -- | -- | -- | -- | ||
| Muni National Interm (Morningstar Category) | -- | -- | -- | -- | ||
Annualized returns for periods 1 yr+/cumulative returns for periods less than 1 yr.
The performance quoted represents past performance and does not guarantee future results. Investment return 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 quoted.
After Tax Returns
Pre-Liquidation
SCMB NAV Return
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- +6.89
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- +4.87
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- 0.00
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | -- | -- | -- | -- | +6.89 | |
| SEC Post-Liquidation | -- | -- | -- | -- | +4.87 | |
| Tax Cost Ratio | -- | -- | -- | -- | 0.00 | |
After tax returns are based on highest Federal income tax bracket and depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. State and local taxes are not included. Pre-liquidation figures include taxes on fund's distributions of dividends and capital gains. Tax Cost Ratio represents the percentage-point reduction in returns that results from Federal income taxes (before shares in the fund are sold, and assuming the highest Federal tax bracket).
Muni National Interm NAV Returns (Morningstar Category)
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +2.04
- 3 Year
- -0.72
- 5 Year
- +1.26
- 10 Year
- +1.94
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +2.25
- 3 Year
- -0.01
- 5 Year
- +1.53
- 10 Year
- +2.08
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.01
- 3 Year
- +0.06
- 5 Year
- +0.06
- 10 Year
- +0.06
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +2.04 | -0.72 | +1.26 | +1.94 | ||
| SEC Post-Liquidation | +2.25 | -0.01 | +1.53 | +2.08 | ||
| Tax Cost Ratio | +0.01 | +0.06 | +0.06 | +0.06 | ||
Post-Liquidation
SCMB NAV Return
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- +6.89
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- +4.87
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- --
- 3 Year
- --
- 5 Year
- --
- 10 Year
- --
- Inception
- 0.00
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | -- | -- | -- | -- | +6.89 | |
| SEC Post-Liquidation | -- | -- | -- | -- | +4.87 | |
| Tax Cost Ratio | -- | -- | -- | -- | 0.00 | |
After tax returns are based on highest Federal income tax bracket and depend on the investor's tax situation and may differ from those shown, and the after-tax returns shown are not relevant to investors who hold their fund shares through tax-deferred arrangements such as 401(k) plans or individual retirement accounts. State and local taxes are not included. Pre-liquidation figures include taxes on fund's distributions of dividends and capital gains. Tax Cost Ratio represents the percentage-point reduction in returns that results from Federal income taxes (before shares in the fund are sold, and assuming the highest Federal tax bracket).
Muni National Interm NAV Returns (Morningstar Category)
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +2.04
- 3 Year
- -0.72
- 5 Year
- +1.26
- 10 Year
- +1.94
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +2.25
- 3 Year
- -0.01
- 5 Year
- +1.53
- 10 Year
- +2.08
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.01
- 3 Year
- +0.06
- 5 Year
- +0.06
- 10 Year
- +0.06
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +2.04 | -0.72 | +1.26 | +1.94 | ||
| SEC Post-Liquidation | +2.25 | -0.01 | +1.53 | +2.08 | ||
| Tax Cost Ratio | +0.01 | +0.06 | +0.06 | +0.06 | ||
Cumulative Growth of a $10,000 Investment
| SCMB (Fund) | $10,631 | |
|---|---|---|
| ICE AMT-Free Core U.S. National Municipal Index (Index) | $10,644 | |
| Muni National Interm (Morningstar Category) | $10,583 | |
| Worst Three Months Return (1/31/2023 - 4/30/2023) | -0.41 | |
| Best Three Months Return (10/31/2022 - 1/31/2023) | +7.61 |
This graph represents the growth of a hypothetical investment of $10,000. It assumes reinvestment of dividends and capital gains, and does not reflect sales loads, redemption fees, if applicable, or the effects of taxes on any capital gains and/or distributions. If the inception date of the Index is less than the time period shown above, the Since Inception period is shown. Best and Worst Return cover the timeframe of the chart.
Price Performance
Premium/Discount
-
Days traded at Premium
- ITD
- 168
- 2023 Q1
- 55
- 2023 Q2
- 40
-
Days traded at Discount
- ITD
- 57
- 2023 Q1
- 4
- 2023 Q2
- 15
| ITD | 2023 Q1 | 2023 Q2 | ||
|---|---|---|---|---|
| Days traded at Premium | 168 | 55 | 40 | |
| Days traded at Discount | 57 | 4 | 15 |
Portfolio
Top Holdings
-
NJSTRN
- Name
- NEW JERSEY ST TRANSN TR FD AUT
- Percent of Assets (%)
- 0.48%
- Market Value
- $736.4K
-
CASFAC
- Name
- CALIFORNIA ST PUB WKS BRD LEAS
- Percent of Assets (%)
- 0.41%
- Market Value
- $622.4K
-
HRDTRN
- Name
- HAMPTON RDS VA TRANSN ACCOUNTA
- Percent of Assets (%)
- 0.38%
- Market Value
- $589.0K
-
SLS
- Name
- SALES TAX ASSET RECEIVABLE COR
- Percent of Assets (%)
- 0.37%
- Market Value
- $572.9K
-
NJSTRN
- Name
- NEW JERSEY ST TRANSN TR FD AUTH
- Percent of Assets (%)
- 0.37%
- Market Value
- $562.9K
-
ILS
- Name
- ILLINOIS ST
- Percent of Assets (%)
- 0.35%
- Market Value
- $540.3K
-
NJSTRN
- Name
- NEW JERSEY ST TRANSN TR FD AUT
- Percent of Assets (%)
- 0.34%
- Market Value
- $522.9K
-
CHI
- Name
- CHICAGO ILL
- Percent of Assets (%)
- 0.33%
- Market Value
- $505.5K
-
CAS
- Name
- CALIFORNIA ST
- Percent of Assets (%)
- 0.33%
- Market Value
- $503.7K
-
ILSGEN
- Name
- ILLINOIS FIN AUTH REV
- Percent of Assets (%)
- 0.33%
- Market Value
- $502.8K
| Symbol | Name | Percent of Assets (%) | Market Value | ||
|---|---|---|---|---|---|
| NJSTRN | NEW JERSEY ST TRANSN TR FD AUT | 0.48%
|
$736.4K | ||
| CASFAC | CALIFORNIA ST PUB WKS BRD LEAS | 0.41%
|
$622.4K | ||
| HRDTRN | HAMPTON RDS VA TRANSN ACCOUNTA | 0.38%
|
$589.0K | ||
| SLS | SALES TAX ASSET RECEIVABLE COR | 0.37%
|
$572.9K | ||
| NJSTRN | NEW JERSEY ST TRANSN TR FD AUTH | 0.37%
|
$562.9K | ||
| ILS | ILLINOIS ST | 0.35%
|
$540.3K | ||
| NJSTRN | NEW JERSEY ST TRANSN TR FD AUT | 0.34%
|
$522.9K | ||
| CHI | CHICAGO ILL | 0.33%
|
$505.5K | ||
| CAS | CALIFORNIA ST | 0.33%
|
$503.7K | ||
| ILSGEN | ILLINOIS FIN AUTH REV | 0.33%
|
$502.8K |
Security Types
| Security Types | Percent of Portfolio (%) | |
|---|---|---|
| Revenue Bonds | 60.93%
|
|
| GO Bonds | 31.92%
|
|
| Pre-Refunded Bonds | 7.15%
|
Credit Ratings
| Credit Ratings | Bonds (%) | |
|---|---|---|
| AA | 60.71%
|
|
| A | 21.18%
|
|
| AAA | 15.19%
|
|
| BBB | 2.77%
|
|
| Unrated Securities | 0.15%
|
Bloomberg Index Rating: Based on the middle rating of Moody’s, S&P and Fitch; when a rating from only two agencies is available, the lower is used; when only one agency rates a bond, that rating is used. In cases where explicit bond level ratings may not be available, other sources may be used to classify securities by credit quality. Source: Bloomberg Index Service Ltd.
Asset Allocation
| Asset Class | Percent of Portfolio (%) | |
|---|---|---|
| Bonds | 100.00%
|
The percentage of assets as shown may not equal 100% due to unsettled trades.
Maturity Breakdown
| Maturity | Bonds (%) | |
|---|---|---|
| Less than 3 Years | 29.43%
|
|
| 3 to 5 Years | 19.38%
|
|
| 5 to 7 Years | 14.19%
|
|
| 7 to 10 Years | 19.52%
|
|
| 10 Years or More | 17.48%
|
Distributions
Distributions
-
Ex-Date: 10/02/2023
- Record Date
- 10/03/2023
- Payable Date
- 10/06/2023
- Income
- 0.1466
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.146600000
-
Ex-Date: 09/01/2023
- Record Date
- 09/05/2023
- Payable Date
- 09/08/2023
- Income
- 0.1402
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.140200000
-
Ex-Date: 08/01/2023
- Record Date
- 08/02/2023
- Payable Date
- 08/07/2023
- Income
- 0.1246
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.124600000
-
Ex-Date: 07/03/2023
- Record Date
- 07/05/2023
- Payable Date
- 07/10/2023
- Income
- 0.1516
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.151600000
-
Ex-Date: 06/01/2023
- Record Date
- 06/02/2023
- Payable Date
- 06/07/2023
- Income
- 0.1299
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.129900000
-
Ex-Date: 05/01/2023
- Record Date
- 05/02/2023
- Payable Date
- 05/05/2023
- Income
- 0.1280
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.128000000
-
Ex-Date: 04/03/2023
- Record Date
- 04/04/2023
- Payable Date
- 04/10/2023
- Income
- 0.1432
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.143200000
-
Ex-Date: 03/01/2023
- Record Date
- 03/02/2023
- Payable Date
- 03/07/2023
- Income
- 0.1337
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.133700000
-
Ex-Date: 02/01/2023
- Record Date
- 02/02/2023
- Payable Date
- 02/07/2023
- Income
- 0.1254
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.125400000
-
Ex-Date: 12/16/2022
- Record Date
- 12/19/2022
- Payable Date
- 12/22/2022
- Income
- 0.1090
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.109000000
-
Ex-Date: 12/01/2022
- Record Date
- 12/02/2022
- Payable Date
- 12/07/2022
- Income
- 0.1293
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.129300000
-
Ex-Date: 11/01/2022
- Record Date
- 11/02/2022
- Payable Date
- 11/07/2022
- Income
- 0.0633
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.063300000
| Ex-Date | Record Date | Payable Date | Income | Short Term Capital Gain | Long Term Capital Gain | Return of Capital | Total Distribution | ||
|---|---|---|---|---|---|---|---|---|---|
| 10/02/2023 | 10/03/2023 | 10/06/2023 | 0.1466 | 0.0000 | 0.0000 | -- | 0.146600000 | ||
| 09/01/2023 | 09/05/2023 | 09/08/2023 | 0.1402 | 0.0000 | 0.0000 | -- | 0.140200000 | ||
| 08/01/2023 | 08/02/2023 | 08/07/2023 | 0.1246 | 0.0000 | 0.0000 | -- | 0.124600000 | ||
| 07/03/2023 | 07/05/2023 | 07/10/2023 | 0.1516 | 0.0000 | 0.0000 | -- | 0.151600000 | ||
| 06/01/2023 | 06/02/2023 | 06/07/2023 | 0.1299 | 0.0000 | 0.0000 | -- | 0.129900000 | ||
| 05/01/2023 | 05/02/2023 | 05/05/2023 | 0.1280 | 0.0000 | 0.0000 | -- | 0.128000000 | ||
| 04/03/2023 | 04/04/2023 | 04/10/2023 | 0.1432 | 0.0000 | 0.0000 | -- | 0.143200000 | ||
| 03/01/2023 | 03/02/2023 | 03/07/2023 | 0.1337 | 0.0000 | 0.0000 | -- | 0.133700000 | ||
| 02/01/2023 | 02/02/2023 | 02/07/2023 | 0.1254 | 0.0000 | 0.0000 | -- | 0.125400000 | ||
| 12/16/2022 | 12/19/2022 | 12/22/2022 | 0.1090 | 0.0000 | 0.0000 | -- | 0.109000000 | ||
| 12/01/2022 | 12/02/2022 | 12/07/2022 | 0.1293 | 0.0000 | 0.0000 | -- | 0.129300000 | ||
| 11/01/2022 | 11/02/2022 | 11/07/2022 | 0.0633 | 0.0000 | 0.0000 | -- | 0.063300000 |
