Schwab Asset Management, a division of Charles Schwab, announced share splits for 20 ETFs or exchange-traded funds in late September but the execution for the splits is today, Oct. 10th and will be trading at the adjusted price on October 11th. The goal of the share splits is to increase the overall number of share, which decreases the net asset value for each share.
SCHWAB ASSET MANAGEMENT ANNOUNCES ETF SHARE SPLITS
September 25, 2024 (Westlake, TEXAS) — Schwab Asset Management ®, the asset management arm of The
Charles Schwab Corporation, today announced forward share splits on 20 Schwab ETFs. Forward ETF share
splits increase the number of shares outstanding and decrease the Net Asset Value (NAV) per share. The share
splits will not change the total value of a shareholder’s investment.
The ETF share splits will apply to shareholders of record as of the close of US markets on October 9, 2024,
payable after the close of the markets on October 10, 2024. Shares will begin trading at their post-split price on
October 11, 2024.
Ticker Fund Record date Payable date NAV/share as
of 9/24/24Split Ratio SCHG Schwab U.S. Large-Cap Growth ETF 10/9/24 10/10/24 103.90 4-for-1 SCHD Schwab U.S. Dividend Equity ETF 10/9/24 10/10/24 85.02 3-for 1 SCHM Schwab U.S. Mid-Cap ETF 10/9/24 10/10/24 83.20 3-for 1 SCHV Schwab U.S. Large-Cap Value ETF 10/9/24 10/10/24 80.26 3-for 1 FNDX Schwab Fundamental U.S. Large Company ETF 10/9/24 10/10/24 71.55 3-for 1 FNDB Schwab Fundamental U.S. Broad Market ETF 10/9/24 10/10/24 70.18 3-for 1 SCHX Schwab U.S. Large-Cap ETF 10/9/24 10/10/24 67.74 3-for 1 SCHB Schwab U.S. Broad Market ETF 10/9/24 10/10/24 66.39 3-for 1 FNDA Schwab Fundamental U.S. Small Company ETF 10/9/24 10/10/24 59.58 2-for-1 SCHK Schwab 1000 Index® ETF 10/9/24 10/10/24 55.16 2-for-1 SCHP Schwab U.S. TIPS ETF 10/9/24 10/10/24 53.78 2-for-1 SCYB Schwab High Yield Bond ETF 10/9/24 10/10/24 53.36 2-for-1 SCMB Schwab Municipal Bond ETF 10/9/24 10/10/24 52.33 2-for-1 SCHA Schwab U.S. Small-Cap ETF 10/9/24 10/10/24 51.57 2-for-1 SCHR Schwab Intermediate-Term U.S. Treasury ETF 10/9/24 10/10/24 50.76 2-for-1 SCHJ Schwab 1-5 Year Corporate Bond ETF 10/9/24 10/10/24 49.69 2-for-1 SCHO Schwab Short-Term U.S. Treasury ETF 10/9/24 10/10/24 49.06 2-for-1 SCHZ Schwab U.S. Aggregate Bond ETF 10/9/24 10/10/24 47.66 2-for-1 SCHI Schwab 5-10 Year Corporate Bond ETF 10/9/24 10/10/24 46.28 2-for-1 SCHF Schwab International Equity ETF 10/9/24 10/10/24 40.76 2-for-1
About Schwab Asset Management
One of the industry’s largest and most experienced asset managers, Schwab Asset Management offers a
focused lineup of competitively priced ETFs, mutual funds and separately managed account strategies designed
to serve the central needs of most investors. By operating through clients’ eyes, and putting them at the center
of our decisions, we aim to deliver exceptional experiences to investors and the financial professionals who
serve them. As of June 30, 2024, Schwab Asset Management managed approximately $1.2 trillion on a
discretionary basis and $38.3 billion on a non-discretionary basis.
About Charles SchwabAt Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a
history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisorsand employers who serve them, and championing our clients’ goals with passion and integrity.
Disclosures:
Investors should consider carefully information contained in the prospectus, or if available, the summary
prospectus, including investment objectives, risks, charges and expenses. You can obtain a prospectus, or if
available, a summary prospectus.Please read it carefully before investing.
Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when
redeemed or sold, may be worth more or less than their original cost. Unlike mutual funds, shares of ETFs are
not individually redeemable directly with the ETF. Shares of ETF are bought and sold at market price, which may
be higher or lower than the net asset value (NAV).
Schwab Asset Management ® is the dba name for Charles Schwab Investment Management, Inc., the investment
adviser for Schwab Funds, Schwab ETFs, and separately managed account strategies. Schwab Funds are
distributed by Charles Schwab & Co, Inc. (Schwab), Member SIPC. Schwab ETFs are distributed by SEI
Investments Distribution Co. (SIDCO). Schwab Asset Management and Schwab are separate but affiliated
companies and subsidiaries of The Charles Schwab Corporation, and are not affiliated with SIDCO.
0924-SG4F
What this means for investors
- Lower Share Prices, Same Total Investment Value:
The forward share splits announced by Schwab will lower the price per share of the affected ETFs, making them more affordable on a per-share basis. For instance, after the 4-for-1 split, the price of Schwab U.S. Large-Cap Growth ETF (SCHG) will be roughly $25.98, instead of $103.90. However, the total value of a shareholder’s investment remains the same. Shareholders will simply own more shares at a lower price. - Accessibility for Investors:
Lower NAV per share means these ETFs may become more accessible to individual investors who prefer to purchase full shares rather than fractional ones. The price adjustments could encourage more participation in these popular funds, particularly for long-term, cost-conscious investors. - Broad Impact Across Schwab ETFs:
The splits affect a broad range of Schwab’s ETFs, spanning large-cap, mid-cap, small-cap, and bond funds. Notable ETFs included in the share split announcement are Schwab U.S. Dividend Equity ETF (SCHD), Schwab U.S. Broad Market ETF (SCHB), and Schwab International Equity ETF (SCHF), all undergoing 2-for-1 or 3-for-1 splits.
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