Investment objective & strategy
As of Jan. 13, 2025 · prospectusObjective. The funds goal is to seek to provide total return while generating income through investing in U.S. dollar-denominated debt securities.
Strategy. To pursue its goal, the fund invests in U.S. dollar-denominated debt securities such as: corporate bonds ? taxable municipal bonds ? mortgage pass-through securities ? U.S. Treasury securities ? government-related bonds ? commercial mortgage-backed securities ? asset-backed securities ? The fund is an actively managed exchange-traded fund and therefore does not seek to replicate the performance of any specific index. The fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. It is the funds policy that under normal circumstances, it will invest at least 80% of its net assets (including, for this purpose, any borrowings for investment purposes) in debt securities. The Fund has flexibility to invest in debt … To pursue its goal, the fund invests in U.S. dollar-denominated debt securities such as: corporate bonds ? taxable municipal bonds ? mortgage pass-through securities ? U.S. Treasury securities ? government-related bonds ? commercial mortgage-backed securities ? asset-backed securities ? The fund is an actively managed exchange-traded fund and therefore does not seek to replicate the performance of any specific index. The fund may have a higher degree of portfolio turnover than funds that seek to replicate the performance of an index. It is the funds policy that under normal circumstances, it will invest at least 80% of its net assets (including, for this purpose, any borrowings for investment purposes) in debt securities. The Fund has flexibility to invest in debt securities of any maturity and duration. The fund may invest without limitation in U.S. dollar-denominated bonds of non-U.S. corporations. Under normal circumstances, the fund will invest in securities, that at the time of purchase, are rated investment grade (i.e., BBB- or higher by S&P Global Ratings and/or Fitch Ratings, Inc. (Fitch), or Baa3 or higher by Moodys Investors Service, Inc. (Moodys), or, if unrated, determined by the funds investment adviser to be of equivalent quality. For temporary defensive purposes during unusual market conditions, the fund may invest up to 100% of its assets in cash, cash equivalents or other high quality short-term investments.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| US TREASURY N/B | — | $42.63M | 3.43% |
| US TREASURY N/B | — | $34.73M | 2.79% |
| US TREASURY N/B | — | $27.59M | 2.22% |
| US TREASURY N/B | — | $26.80M | 2.15% |
| US TREASURY N/B | — | $21.35M | 1.72% |
| US TREASURY N/B | — | $20.26M | 1.63% |
| US TREASURY N/B | — | $15.67M | 1.26% |
| US TREASURY N/B | — | $13.24M | 1.06% |
| PHILADELPHIA INDL-C | — | $12.39M | 1.00% |
| FR SD8238 | — | $12.11M | 0.97% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Short Term Government Income Trust · JAFYX, JAJPX, JAFWX | 10% | 0.67% |
| ONEASCENT CORE PLUS BOND ETF · OACP | 9% | 0.74% |
| Allspring Core Bond Portfolio | 9% | — |
Advisers
| Firm | Role |
|---|---|
| Charles Schwab Investment Management, Inc. | Adviser |
Footnotes
- Expense ratio as of January 13, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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