Charles Schwab Corporation (SCHW)

Charles Schwab Discloses Results of the Federal Reserve’s 2026 Comprehensive Capital Analysis and ReviewJune 24, 2026 4:07 PM
Business Wire The Charles Schwab Corporation (CSC or Schwab) announced today that it has received the results of the Federal Reserve’s 2026 Comprehensive Capital Analysis and Review (CCAR). These results included the Federal Reserve’s estimate of Schwab’s minimum capital ratios under the supervisory severely adverse scenario for the nine-quarter horizon beginning December 31, 2025 and ending March 31, 2028. Earlier this year, the Federal Reserve voted to maintain the current stress capital buffer requirements until 2027. Therefore, Schwab’s stress capital buffer (SCB) remains at the 2.5% minimum. Schwab’s Common Equity Tier 1 (CET1) ratio of 26.3% as of March 31, 2026 was well in excess of the regulatory minimum of 4.5% combined with the SCB of 2.5% due to the relatively low risk nature of our balance sheet assets. Schwab ended the first quarter of 2026 with a consolidated Tier 1 Leverage Ratio of 8.9%, down from 9.3% at year-end 2025. CFO Mike Verdeschi commented, “Our CCAR results highlight the strength of Schwab’s capital position and diversified business model. Our principles-based approach to managing the balance sheet establishes a foundation of safety and soundness from which we support our clients’ evolving needs across different environments and deliver profitable growth through-the-cycle.” Forward-looking Statements This press release contains forward-looking statements relating to the company’s diversified business model, business results, growth, capital ratios, and balance sheet management. These forward-looking statements reflect management’s expectations as of the date hereof. Achievement of these expectations and objectives is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations. Important factors that may cause such differences include actual economic and financial conditions, the accuracy of management’s modeling and estimation techniques, and other factors described in the company’s most recent reports on Form 10-K and Form 10-Q, which have been filed with the Securities and Exchange Commission and are available on the company’s website (https://www.aboutschwab.com/financial-reports) and on the Securities and Exchange Commission’s website (https://www.sec.gov). The company makes no commitment to update any forward-looking statements. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.5 million active brokerage accounts, 5.9 million workplace plan participant accounts, 2.3 million banking accounts, and $13.14 trillion in client assets as of May 31, 2026. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sec.gov), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260623016954/en/ MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525 INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 817-854-6177 Original: Charles Schwab Discloses Results of the Federal Reserve’s 2026 Comprehensive Capital Analysis and Review

Schwab Announces Its Summer Business UpdateJune 24, 2026 8:45 AM
Business Wire The Charles Schwab Corporation announced today that it has scheduled a Summer Business Update for institutional investors on Tuesday, July 21st. This Update, which will be held via live public webcast, is part of an ongoing series designed to help the investment community keep abreast of recent developments and management’s strategic focus areas. The program is scheduled to run from 7:30 a.m. - 8:30 a.m. CT, 8:30 a.m. - 9:30 a.m. ET. Participants will include President and Chief Executive Officer Rick Wurster and Chief Financial Officer Mike Verdeschi. The Update will be accessible at https://schwabevents.com/corporation. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.5 million active brokerage accounts, 5.9 million workplace plan participant accounts, 2.3 million banking accounts, and $13.14 trillion in client assets as of May 31, 2026. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260624996280/en/ MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525 INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 817-854-6177 Original: Schwab Announces Its Summer Business Update

AI Developments and Iran Diplomacy Drive Market Sentiment: Dow Jones, S&P, Nasdaq, Wall Street FuturesJune 22, 2026 6:04 AM
IH Market News U.S. stock index futures recovered part of their earlier losses on Monday after signs of progress emerged from diplomatic discussions between Iran and the United States, easing concerns about renewed tensions in the Middle East. Investors also remained focused on developments within the artificial intelligence sector after President Donald Trump adopted a less confrontational tone toward Anthropic (NASDAQ:ANTP), following days of uncertainty surrounding export restrictions on advanced AI models. Meanwhile, the semiconductor sector continued to reflect the growing influence of artificial intelligence, with SK Hynix (USOTC:HXSCL) surpassing Samsung Electronics (USOTC:SSNHZ) as South Korea’s most valuable listed company. Futures Recover as Diplomatic Optimism Returns By 07:33 GMT, futures linked to the S&P 500 and Dow Jones Industrial Average were each down 0.06%, while Nasdaq 100 futures rose 0.16%. Earlier in the session, futures had fallen more sharply after President Trump warned that additional military action against Iran remained possible despite ongoing negotiations. The comments initially revived fears of a renewed escalation in the region. However, market sentiment improved after Iranian officials and international mediators struck a more constructive tone following talks held in Switzerland. Investors continue to monitor whether diplomatic efforts can prevent another surge in oil prices and reduce geopolitical uncertainty. A durable agreement could support risk assets while helping to ease concerns about energy-driven inflation. Iran Reports Progress in Negotiations Iranian Foreign Minister Abbas Aragchi stated that “major progress” had been achieved during discussions with U.S. representatives. In comments published on social media, Aragchi said negotiations had advanced efforts to end the conflict, including discussions surrounding waivers for Iranian oil and petrochemical exports, the removal of a U.S. naval blockade and the launch of reconstruction and development initiatives. Mediators from Pakistan and Qatar also characterised the first round of high-level talks in Switzerland as encouraging and confirmed that further meetings are planned. Although several key issues remain unresolved, the latest statements suggest both sides remain committed to pursuing a diplomatic solution despite recent military tensions. Trump Softens Position on Anthropic Artificial intelligence remained a major focus for investors after Trump indicated that he no longer considers Anthropic a significant national security concern. Speaking to Axios, the president said that although his administration may have taken a different view a week earlier, Anthropic had responded “very quickly” and “responsibly” to concerns raised by officials. Earlier this month, the U.S. Commerce Department imposed export restrictions on Anthropic’s flagship Mythos and Fable AI models, forcing the company to withdraw the software from the market. A leaked government document also suggested that foreign nationals would require individually approved licences to access the models, including certain non-U.S. employees. The dispute highlighted growing tensions between national security objectives and efforts to maintain U.S. leadership in artificial intelligence. While Trump’s latest comments may reduce some immediate concerns, he stopped short of ruling out future intervention. For investors, the episode reinforces the view that regulation is becoming an increasingly important risk factor for AI developers and the broader technology ecosystem. SK Hynix Overtakes Samsung SK Hynix became South Korea’s largest listed company by market value on Monday, overtaking long-time leader Samsung Electronics. Shares in SK Hynix climbed 3.7%, lifting its market capitalisation to approximately 2,082 trillion won. Samsung shares fell 1.4%, leaving its valuation slightly below that level. The development reflects the growing importance of artificial intelligence infrastructure. SK Hynix has benefited from strong demand for high-bandwidth memory (HBM) chips, which are critical components used in advanced AI systems. The company supplies memory products to Nvidia and recently announced that samples of its next-generation HBM4 chips had been provided to major customers. The shift highlights how value creation within the AI sector is increasingly extending beyond software developers to suppliers of essential hardware and infrastructure. Charles Schwab Prepares Binary Options Launch Charles Schwab (NYSE:SCHW) is reportedly preparing to introduce a new category of options contracts that would allow investors to place simple directional bets on the performance of the S&P 500. According to a Wall Street Journal report, the brokerage is working with Cboe Global Markets to launch binary options products in the coming months. The contracts would provide a fixed payout if a prediction proves correct and no return if it does not. Supporters argue that the products offer a straightforward way to express market views, while critics contend that their all-or-nothing structure may encourage speculative behaviour. The initiative reflects a broader trend among brokerage firms seeking to expand their product offerings and attract greater participation from retail investors. Anthropic IPO SK Hynix stock price Samsung stock price Charles Schwab stock priceThe post AI Developments and Iran Diplomacy Drive Market Sentiment: Dow Jones, S&P, Nasdaq, Wall Street Futures appeared first on US Editors. Original: AI Developments and Iran Diplomacy Drive Market Sentiment: Dow Jones, S&P, Nasdaq, Wall Street Futures

Schwab Center for Financial Research Releases 2026 Mid-Year Market OutlookJune 18, 2026 9:30 AM
Business Wire Key Takeaways: U.S. stocks and economic growth will likely continue to be supported by strong business investment, while consumer spending faces persistent headwinds if the war persists and keeps upward pressure on inflation. The bond market outlook suggests that investors remain selective, favoring short- and intermediate-term maturities versus long-duration investments. The global equity market outlook remains positive, driven by ongoing economic expansion and strong earnings growth, but higher inflation, geopolitical turmoil, and market concentration present potential risks. The Schwab Center for Financial Research (SCFR), which provides top-quality research, timely market insights and practical guidance for investors, today announced the release of its 2026 mid-year outlook, Schwab Market Perspective: Mid-Year Outlook, which delivers insights on the most important market and economic trends that investors should consider for the second half of the year. The Schwab Market Perspective: Mid-Year Outlook provides perspectives on U.S. stocks and the U.S. economy, taxable fixed income, and global equities. 2026 Mid-Year Outlook: U.S. Stocks and Economy “Considering the interplay between economic trends and stock market behavior, the second half of 2026 is presenting investors with a bit of a split verdict. The earnings backdrop is the strongest it has been in years and although it is concentrated, it is not a mirage. The economy and labor market have remained resilient. However, the index-level signal from the stock market is obscuring a more complicated picture: concentrated earnings growth, record household equity exposure, consumer sentiment at historical lows for everyone outside the stock market, and a bond market that’s increasingly competitive with equities on a risk-adjusted basis.”   Liz Ann Sonders, Chief Investment Strategist, and Kevin Gordon, Head of Macro Research and Strategy, Schwab Center for Financial Research 2026 Mid-Year Outlook: Taxable Fixed Income “Our broad message for the second half of 2026 is this: Income still matters, but investors should be selective. Despite the recent rise in Treasury yields, we suggest investors favor a below-benchmark average duration with their bond holdings, favoring short- and intermediate-term maturities. In our view, now is not the time to favor long-duration investments just yet.”   Collin Martin, Head of Fixed Income Research and Strategy, Schwab Center for Financial Research 2026 Mid-Year Outlook: Global Equity “In 2026, economic activity has improved. Earnings growth continues to be strong. Capital investment remains robust. Financial conditions are relatively benign. But those strengths are concentrated, and they exist within a shifting structural regime that could produce ongoing geopolitical pressures and increased inflation risks over the longer term.”   Chris Ferrarone, Head of Equity Research and Strategy, and Michelle Gibley, Director of International Equity Research and Strategy, Schwab Center for Financial Research Learn more about the Schwab Market Perspective: Mid-Year Outlook here. About Charles Schwab At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on X, Facebook, YouTube and LinkedIn. Disclosures: This material is intended for general informational and educational purposes only. This should not be considered an individualized recommendation or personalized investment advice. Where specific advice is necessary or appropriate, individuals should contact their own professional tax and investment advisors or other professionals (CPA, Financial Planner, Investment Manager, Estate Attorney) to help answer questions about specific situations or needs prior to taking any action based upon this information. The securities and investment strategies mentioned are not suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions. Past performance is no guarantee of future results. The value of investments and the income derived from them can go down as well as up. Future returns and the achievement of stated goals are not guaranteed, and a loss of principal may occur. Investing involves risk, including loss of principal. International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate this risk. Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors. Lower rated securities are subject to greater credit risk, default risk, and liquidity risk. The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party. Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc. The Charles Schwab Corporation provides a full range of brokerage, banking and financial advisory services through its operating subsidiaries. Its broker-dealer subsidiary, Charles Schwab & Co. Inc. (Member SIPC, https://www.sipc.org), and its affiliates offer investment services and products. Its banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides deposit and lending services and products. © 2026 Charles Schwab & Co., Inc, All rights reserved. Member SIPC. 0626-XGSH View source version on businesswire.com: https://www.businesswire.com/news/home/20260618384344/en/ MEDIA:
Kaitlyn Campisi
Charles Schwab
Phone: 929-318-7957 Original: Schwab Center for Financial Research Releases 2026 Mid-Year Market Outlook

Schwab Reports Monthly Activity HighlightsJune 12, 2026 8:45 AM
Business Wire The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of May 2026 include: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260612897792/en/ Core net new assets brought to the company increased 43% versus May 2025 to reach $49.9 billion – a record for the month of May. Total client assets equaled $13.14 trillion as of month-end May, up 27% from May 2025 and up 4% compared to April 2026. New brokerage accounts opened during the month totaled 461,000, an increase of 37% versus May 2025. Client margin loan balances were up 38% from year-end to $154.6 billion including $37.4 billion related to long/short strategies. Daily average trades reached a record 11.8 million, driven primarily by robust engagement in equities and exchange traded fund products. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.5 million active brokerage accounts, 5.9 million workplace plan participant accounts, 2.3 million banking accounts, and $13.14 trillion in client assets as of May 31, 2026. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com. The Charles Schwab Corporation Monthly Activity Report For May 2026   2025 2026 Change May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Mo. Yr. Number of Trading Days 21.0   20.0   21.5   21.0   21.0   23.0   18.5   21.5   20.0   19.0   22.0   21.0   20.0   Market Indices (at month end) Dow Jones Industrial Average® 42,270   44,095   44,131   45,545   46,398   47,563   47,716   48,063   48,892   48,978   46,342   49,652   51,032   3% 21% Nasdaq Composite® 19,114   20,370   21,122   21,456   22,660   23,725   23,366   23,242   23,462   22,668   21,591   24,892   26,973   8% 41% Standard & Poor’s® 500 5,912   6,205   6,339   6,460   6,688   6,840   6,849   6,846   6,939   6,879   6,529   7,209   7,580   5% 28% Client Assets (in billions of dollars)     Beginning Client Assets 9,892.2   10,349.0   10,757.3   10,963.5   11,228.1   11,593.9   11,828.0   11,834.3   11,903.0   12,148.5   12,220.3   11,767.9   12,605.3       Net New Assets (1) 33.6   38.9   45.7   43.3   45.4   41.6   38.7   77.9   27.6   32.5   79.8   6.7   49.9   N/M 49% Net Market Gains (Losses) 423.2   369.4   160.5   221.3   320.4   192.5   (32.4 ) (9.2 ) 217.9   39.3   (532.2 ) 830.7   480.1       Total Client Assets (at month end) 10,349.0   10,757.3   10,963.5   11,228.1   11,593.9   11,828.0   11,834.3   11,903.0   12,148.5   12,220.3   11,767.9   12,605.3   13,135.3   4% 27% Core Net New Assets (1,2) 35.0   42.6   46.9   44.4   46.2   44.4   40.4   79.1   27.8   32.5   79.7   7.2   49.9   N/M 43% Receiving Ongoing Advisory Services (at month end)     Investor Services 711.2   737.6   747.9   771.1   792.5   807.6   817.9   824.8   849.5   866.8   841.3   895.0   925.8   3% 30% Advisor Services 4,525.6   4,687.4   4,765.1   4,888.2   5,016.7   5,106.1   5,155.9   5,195.5   5,311.7   5,394.3   5,201.5   5,525.7   5,716.0   3% 26% Client Accounts (at month end, in thousands)     Active Brokerage Accounts 37,375   37,476   37,658   37,798   37,963   38,145   38,266   38,506   38,730   38,925   39,099   39,300   39,536   1% 6% Banking Accounts 2,077   2,096   2,116   2,137   2,150   2,172   2,189   2,214   2,239   2,258   2,281   2,305   2,329   1% 12% Workplace Plan Participant Accounts (3) 5,563   5,586   5,619   5,606   5,619   5,696   5,730   5,740   5,793   5,829   5,844   5,864   5,886   - 6% Client Activity     New Brokerage Accounts (in thousands) 336   323   377   382   384   429   365   474   476   395   428   437   461   5% 37% Client Daily Average Trades (DATs) (in thousands) 7,184   7,147   7,252   7,182   7,832   8,617   8,459   7,746   9,512   9,922   10,232   10,328   11,813   14% 64% Derivative Trades as a Percentage of Total Trades 21.0 % 20.8 % 21.3 % 22.5 % 22.3 % 23.8 % 21.7 % 21.4 % 20.1 % 20.1 % 20.4 % 21.4 % 19.8 % (160) bp (120) bp Margin Balances at month end (in billions of dollars) (4) 81.3   83.4   88.3   92.4   97.2   105.6   110.1   112.3   116.3   120.6   126.7   136.0   154.6   14% 90% Schwab Trading Activity Index™ (STAX) (5) 39.7   40.7   41.8   43.7   46.1   48.1   48.8   48.5   50.0   57.3   56.0   50.1   55.1   10% 39% Selected Balances (in billions of dollars)     Average Interest-Earning Assets (6) 418.7   416.5   416.7   414.4   419.8   428.3   429.1   436.0   441.7   434.2   436.8   444.6   442.0   (1%) 6% Transactional Sweep Cash (4,7) (at month end) 398.1   412.1   407.5   406.7   425.6   428.8   427.5   453.7   433.3   436.1   461.5   467.6   472.4   1% 19% Total Money Market Funds (at month end) 645.8   653.9   658.6   665.2   667.0   675.5   685.9   694.5   693.4   696.2   702.2   688.1   694.6   1% 8% Client Cash as a Percentage of Client Assets (8) 10.1 % 9.9 % 9.7 % 9.5 % 9.4 % 9.3 % 9.4 % 9.7 % 9.3 % 9.3 % 9.9 % 9.2 % 8.9 % (30) bp (120) bp Net Buy (Sell) Activity (in billions of dollars) (9) Mutual Funds (3.2 ) (5.4 ) (3.4 ) (2.2 ) (4.8 ) (6.3 ) (7.3 ) (3.6 ) (0.9 ) (2.4 ) (8.5 ) (5.7 ) (7.4 ) Exchange-Traded Funds (ETFs) 21.9   19.4   25.8   23.0   25.6   28.1   24.9   39.8   34.8   37.4   25.3   27.4   34.2   (1) Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs. (2) Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $25 billion) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods. (3) Includes accounts in Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services. Participants may be enrolled in services in more than one Workplace business. (4) Balances include margin loans and short credits related to certain long/short strategies from which the Company earns a fixed net yield. For the month of May 2026, margin loans totaled $37.4 billion and short credits totaled $38.9 billion. (5) For additional information regarding STAX, please visit: https://www.schwab.com/investment-research/stax/view-schwab-trading-activity-index. (6) Represents average total interest-earning assets on the Company's balance sheet. Beginning in December 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from average interest-earning assets. Prior period amounts have been adjusted accordingly. (7) Transactional sweep cash includes bank sweep deposits, and broker-dealer cash balances, other client cash held on the balance sheet (such as bank checking and savings deposits, short credits related to certain client long/short strategies, and broker-dealer non-interest-bearing credits), and bank deposit account balances; excludes proprietary and third-party CDs. (8) Schwab One®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank. (9) Represents the principal value of client mutual fund and ETF transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to investment managers. Excludes money market fund transactions. N/M - Not meaningful. Percentage changes greater than 200% are presented as not meaningful.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260612897792/en/ MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525 INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 817-854-6177 Original: Schwab Reports Monthly Activity Highlights

Schwab Asset Management Announces Closure and Liquidation of the Schwab Ariel Opportunities ETF (SAEF)June 12, 2026 6:00 AM
Business Wire At a meeting held on June 10, 2026, upon the recommendation of Charles Schwab Investment Management, Inc. (“CSIM”), the investment adviser to the fund, the Board of Trustees of the Schwab Strategic Trust approved the closure and liquidation of the Schwab Ariel Opportunities ETF (SAEF). The fund will cease trading on the NYSE Arca, Inc. (NYSE) as of the close of regular trading on July 17, 2026 (the “Closing Date”), at which time the fund’s shares will be delisted. The fund will not accept creation orders after the Closing Date. Shareholders may sell their fund shares, subject to typical transaction fees from their broker-dealer, until market close on July 17, 2026. The fund will be liquidated on or about July 24, 2026 (“Liquidation Date”). The fund will redeem all its outstanding shares and proceeds of the liquidation will be promptly distributed to shareholders that still hold fund shares as of market close on July 17, 2026. From June 12, 2026, through the Liquidation Date, it should be expected that all or a portion of the fund may not be invested in a manner consistent with its stated investment objective and strategies. 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 March 31, 2026, Schwab Asset Management managed approximately $1.6 trillion on a discretionary basis and $42.5 billion on a non-discretionary basis. More information is available at www.schwabassetmanagement.com. About Charles Schwab At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on X, Charles Schwab | Westlake TX | Facebook, YouTube and LinkedIn. 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 by visiting schwabassetmanagement.com/schwabetfs_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 ETFs are bought and sold at market price, which may be higher or lower than the net asset value (NAV). The Schwab Ariel Opportunities ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This fund will not. This may create additional risks for your investment. For example: ▪ You may have to pay more money to trade the fund’s shares. This fund will provide less information to traders, who tend to charge more for trades when they have less information. ▪ The price you pay to buy fund shares on an exchange may not match the value of the fund’s portfolio. The same is true when you sell shares. These price differences may be greater for this fund compared to other ETFs because it provides less information to traders. ▪These additional risks may be even greater in bad or uncertain market conditions. ▪ The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio. The differences between this fund and other ETFs may also have advantages. By keeping certain information about the fund secret, this fund may face less risk that other traders can predict or copy its investment strategy. This may improve the fund’s performance. If other traders are able to copy or predict the fund’s investment strategy, however, this may hurt the fund’s performance. For additional information regarding the unique attributes and risks of the fund, see Proxy Portfolio Risk, Premium/Discount Risk, Trading Halt Risk, Authorized Participant Concentration Risk, Tracking Error Risk and Shares of the Fund May Trade at Prices Other Than NAV in the Principal Risks and Proxy Portfolio and Proxy Overlap sections of the prospectus and/or the Statement of Additional Information. Active Semi-Transparent (also known as Non-Transparent) ETFs: Active semi-transparent (also known as non-transparent) ETFs operate differently from other exchange-traded funds (ETFs). Unlike other ETFs, an active semi-transparent (also known as non-transparent) ETF does not publicly disclose its entire portfolio composition each business day, which may affect the price at which shares of the ETF trade in the secondary market. Active semi-transparent (also known as non-transparent) ETFs have limited public trading history. There can be no assurance that an active trading market will develop, be maintained or operate as intended. There is a risk that the market price of an active semi-transparent (also known as a non-transparent) ETF may vary significantly from the ETF’s net asset value and that its shares may trade at a wider bid/ask spread and, therefore, cost investors more to trade than shares of other ETFs. These risks are heightened during periods of market disruption or volatility. Proxy Portfolio Risk: Unlike traditional ETFs, this fund does not disclose its portfolio holdings (Actual Portfolio) daily. The fund instead posts a Proxy Portfolio on its website each day. The Proxy Portfolio is designed to reflect the economic exposures and risk characteristics of the fund’s actual holdings on each trading day, but it is not the same as the fund’s Actual Portfolio. Although the Proxy Portfolio is intended to provide investors with enough information to allow for an effective arbitrage mechanism that will keep the market price of the Fund at or close to the underlying NAV per Share of the Fund, there is a risk (which may increase during periods of market disruption or volatility) that market prices will vary significantly from the underlying NAV of the fund. ETF trading on the basis of a published Proxy Portfolio may trade at a wider bid/ask spread than ETFs that publish their portfolios on a daily basis, especially during periods of market disruption or volatility, and therefore may cost investors more to trade. Also, while the Fund seeks to benefit from keeping its portfolio information secret, market participants may attempt to use the Proxy Portfolio to identify a Fund’s trading strategy, which if successful, could result in such market participants engaging in certain predatory trading practices that may have the potential to harm the Fund and its shareholders. Proxy Portfolio Construction: The Proxy Portfolio is designed to recreate the daily performance of the Actual Portfolio. This is achieved by performing a “Factor Model” analysis of the Actual Portfolio. The Factor Model is comprised of three sets of factors or analytical metrics: market-based factors, fundamental factors, and industry/sector factors. The fund uses a “Model Universe” to generate its Proxy Portfolio. The Model Universe is comprised of securities that the fund can purchase and will be a financial index or stated portfolio of securities from which fund investments will be selected. The results of the Factor Model analysis are then applied to the Model Universe. The Proxy Portfolio is then generated as a result of this Model Universe analysis with the Proxy Portfolio being a small sub-set of the Model Universe. The Factor Model is applied to both the Actual Portfolio and the Model Universe to construct the fund’s Proxy Portfolio that performs in a manner substantially identical to the performance of its Actual Portfolio. The Proxy Portfolio will only include investments the fund is permitted to hold. The fund’s SAI contains more information on the Proxy Portfolio and its construction. Proxy Portfolio and Proxy Overlap Information regarding the contents of the Proxy Portfolio, and the percentage weight overlap between the holdings of the Proxy Portfolio and a Fund’s Actual Portfolio holdings that formed the basis for its calculation of NAV at the end of the prior Business Day (the Portfolio Overlap), is available by visiting the fund’s website www.schwabassetmanagement.com. Schwab Asset Management® is the dba name for Charles Schwab Investment Management, Inc., the investment adviser for Schwab ETFs. Schwab ETFs are distributed by SEI Investments Distribution Co. (SIDCO). Schwab Asset Management is a separate but affiliated company and subsidiary of The Charles Schwab Corporation, and is not affiliated with SIDCO. 0626-VHLJ View source version on businesswire.com: https://www.businesswire.com/news/home/20260612821030/en/ Christine Underhill
Charles Schwab
415-961-3790 Original: Schwab Asset Management Announces Closure and Liquidation of the Schwab Ariel Opportunities ETF (SAEF)

Schwab Asset Management Reduces Fees on Four Equity Index ETFsJune 11, 2026 6:00 AM
Business Wire Key Takeaways: Schwab is cutting fees on SCHM, SCHA, SCHC, and SCHE, effective June 11, 2026. A large share of Schwab’s core market-cap weighted ETF lineup is now priced at just 3 bps. The fee cuts make diversified U.S. and global ETF portfolios even more affordable for investors. Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation and the fifth-largest provider1 of ETFs, today announced the reduction of operating expense ratios for four equity index ETFs: the Schwab U.S. Mid-Cap ETF (SCHM), Schwab U.S. Small-Cap ETF (SCHA), Schwab International Small-Cap Equity ETF (SCHC), and Schwab Emerging Markets Equity ETF (SCHE). The fee reductions are effective June 11, 2026. Out of Schwab Asset Management’s 24 market-cap weighted, index equity and fixed income ETFs, 16 are now offered at only 3 basis points (bps). “Schwab is proud to leverage our growth and efficiencies to drive down costs for investors to better help them achieve their investment goals,” said Nicohl Bogan, Director of Product Strategy and Development, Schwab Asset Management. “With today’s fee reductions, building a diversified, index-based portfolio is more cost-effective than ever before with Schwab index ETFs.” Schwab Equity Index ETF Expense Ratio Changes Name of Fund (Ticker) Operating Expense Ratio Prior to June 11 Operating Expense Ratio After June 11 Schwab U.S. Mid-Cap ETF (SCHM) 0.04% 0.03% Schwab U.S. Small-Cap ETF (SCHA) 0.04% 0.03% Schwab International Small-Cap Equity ETF (SCHC) 0.08% 0.06% Schwab Emerging Markets Equity ETF (SCHE) 0.07% 0.06% With these fee reductions, an investor can construct a U.S. diversified portfolio that includes large-, mid- and small-cap equities; treasury, corporate and municipal bonds; and diversifying asset categories like REITs, utilizing Schwab market cap-weighted index ETFs, that have expense ratios ranging from 3 bps to 7 bps. In nominal terms, that means an investor with $10,000 would incur annual fund expenses of approximately $3 to $7, depending on the applicable expense ratio2. Extending that portfolio to include international equities such as developed markets, emerging markets and international dividend equities, expense ratios range now from 3 bps to 8 bps. Thinking of that same investor with $10,000, the annual fund expenses would be approximately $3 to $8.3 To learn more about Schwab Asset Management’s entire lineup of ETFs, visit www.schwabassetmanagement.com. 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 March 31, 2026, Schwab Asset Management managed approximately $1.6 trillion on a discretionary basis and $42.5 billion on a non-discretionary basis. More information is available at www.schwabassetmanagement.com. About Charles Schwab At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at www.aboutschwab.com. Follow us on X, Facebook, YouTube and LinkedIn. 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 view and download a prospectus by visiting https://www.schwabassetmanagement.com/prospectus. Please read it carefully before investing. Investing involves risk, including loss of principal. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. 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. Shares of ETFs are not individually redeemable directly with the ETF. Shares are bought and sold at market price, which may be higher or lower than the net asset value (NAV). Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets. Schwab Asset Management® is the dba name for Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for Schwab ETFs. Schwab ETFs are distributed by SEI Investments Distribution Co. (SIDCO). Schwab Asset Management is a separate but affiliated company and subsidiary of The Charles Schwab Corporation and is not affiliated with SIDCO. 0626-V56M 1 Source: Lipper, March 31, 2026.
2 Source: Schwab Asset Management. Calculated using the Schwab U.S. cap-weighted index ETF with the lowest operating expense ratio at 3 bps and the Schwab U.S. cap-weighted index ETF with the highest operating expense ratio at 7 bps at an annual rate on a $10,000 initial investment portfolio. Expense ratios are as of June 11, 2026.
3 Source: Schwab Asset Management. Calculated using the Schwab international cap-weighted index ETF with the lowest operating expense ratio at 3 bps and the Schwab international cap-weighted index ETF with the highest operating expense ratio at 8 bps at an annual rate on a $10,000 initial investment portfolio. Expense ratios are as of June 11, 2026. View source version on businesswire.com: https://www.businesswire.com/news/home/20260611422634/en/ Christine Underhill
Charles Schwab
415-961-3790 Original: Schwab Asset Management Reduces Fees on Four Equity Index ETFs

Schwab Trading Activity Index™: STAX Score Rebounds in MayJune 8, 2026 12:30 PM
Business Wire Schwab clients were net buyers as the markets notched new highs, though signs of caution remain Key Takeaways: The Schwab Trading Activity Index™ (STAX) increased to 55.08 in May, up from its score of 50.10 in April. Schwab clients were net buyers in May, though three of the 10 most net-bought names were diversified exchange-traded funds (ETFs), suggesting a degree of caution remained. At the sector level, Information Technology led the net-buy list in May, followed by Consumer Discretionary and industrials. Communication Services, Health Care, and Energy were net-sold.   The Schwab Trading Activity Index™ (STAX) increased to 55.08 in May, up from its score of 50.10 in April. The only index of its kind, the STAX is a proprietary, behavior-based index that analyzes retail investor stock positions and trading activity from Schwab’s millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260608417388/en/ “As major indexes reached new heights in May, Schwab clients were net buyers of equities, although the popularity of diversified ETFs during the period suggests a degree of caution remained,” said Joe Mazzola, Head Trading and Derivatives Strategist at Charles Schwab. “Overall, this STAX score itself climbed during the period but remained below the levels seen in February and March of this year.” First-quarter S&P 500 earnings growth of nearly 27% marked the strongest quarter since late 2021, which helped sustain bullish sentiment for the balance of the year. Importantly, that earnings momentum also meant valuations did not expand dramatically despite the broader market rally. Economic data in May generally pointed to resilience, particularly in jobs and manufacturing. Inflation remained a concern, however, and Federal Reserve policymakers kept a hawkish tone. By the end of the STAX period, the CME FedWatch Tool reflected roughly a 50% chance of a rate hike later this year—a sharp reversal from earlier in the year, when investors had been pricing in two to three rate cuts. One notable May trend was clients’ use of options, rather than equity purchases, to gain exposure to rallying tech stocks while keeping risk somewhat lighter. Put selling accelerated during the month, as investors looked for better stock entry points. (Importantly, short puts risk purchasing the underlying stock at the strike price when the market price of that stock will likely be lower.) Clients also looked overseas for opportunity, particularly in South Korea, where markets rallied on the back of the memory chip boom. At the sector level, information technology led the net-buy list in May, followed by consumer discretionary and industrials. The biggest net-sell sectors were communication services, healthcare, and energy. From a generational perspective, STAX scores rose across every investor generation in May after falling in April. Generation X (1965–1980) remained the most bullish, followed by Baby Boomers (1946–1964). Millennials (1981–1996) trailed closely behind, while Generation Z (1997–2012) once again posted the lowest reading. Popular names bought by Schwab clients during the period included: NVIDIA Corp. (NVDA) Micron Technology Inc. (MU) Intel Corp. (INTC) Microsoft Corp. (MSFT) Amazon.com Inc. (AMZN) Names net sold by Schwab clients during the period included: Apple Inc. (AAPL) Advanced Micro Devices Inc. (AMD) Tesla Inc. (TSLA) Crowdstrike Holdings Inc. (CRWD) Oracle Corp. (ORCL) About the STAX The STAX value is calculated based on a complex proprietary formula. Each month, Schwab pulls a sample from its client base of millions of funded accounts, which includes accounts that completed a trade in the past month. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly STAX. For more information on the Schwab Trading Activity Index, please visit www.schwab.com/investment-research/stax. Additionally, Schwab clients can chart the STAX using the symbol $STAX in either the thinkorswim® or thinkorswim Mobile platforms. Investing involves risk, including loss of principal. Past performance is no guarantee of future results. Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type. Options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled "Characteristics and Risks of Standardized Options" before considering any option transaction. Historical data should not be used alone when making investment decisions. Please consult other sources of information and consider your individual financial position and goals before making an independent investment decision. The STAX is not a tradable index. The STAX should not be used as an indicator or predictor of future client trading volume or financial performance for Schwab. About Charles Schwab At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity. More information is available at aboutschwab.com. Follow us on X, Facebook, YouTube, and LinkedIn. 0626-TNV4 View source version on businesswire.com: https://www.businesswire.com/news/home/20260608417388/en/ MEDIA:
Margaret Farrell
Charles Schwab
Phone: 203-434-2240   Original: Schwab Trading Activity Index™: STAX Score Rebounds in May

Schwab Reports Monthly Activity HighlightsMay 14, 2026 8:30 AM
Business Wire The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of April 2026 include: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260514285596/en/ Core net new assets brought to the company in April totaled $7.2 billion. Consistent with prior years, these flows reflect the impact of client tax disbursements during the month. Total client assets equaled $12.61 trillion as of month-end April, up 27% from April 2025 and up 7% compared to March 2026. New brokerage accounts opened during the month totaled 437,000, flat compared to April 2025. Daily average trades reached a record 10.3 million, driven by sustained engagement in equities and exchange traded fund products. Additionally, record client margin loan balances were up 21% from year-end to $136.0 billion of which $29.6 billion was related to long/short strategies. Average interest-earning assets on the company’s balance sheet were $444.6 billion in April, up 3% from April 2025 and up 2% compared to March 2026. 2026 Institutional Investor Day The company will host its 2026 Institutional Investor Day today from 8:30 a.m. CT to 2:30 p.m. CT, 9:30 a.m. ET to 3:30 p.m. ET. Registration for this webcast is accessible at https://www.aboutschwab.com/schwabevents. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.3 million active brokerage accounts, 5.9 million workplace plan participant accounts, 2.3 million banking accounts, and $12.61 trillion in client assets as of April 30, 2026. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor ServicesTM. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.   The Charles Schwab Corporation Monthly Activity Report For April 2026   2025                               2026       Change Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr Mo. Yr. Number of Trading Days 21.0   21.0   20.0   21.5   21.0   21.0   23.0   18.5   21.5   20.0   19.0   22.0   21.0   Market Indices (at month end) Dow Jones Industrial Average® 40,669   42,270   44,095   44,131   45,545   46,398   47,563   47,716   48,063   48,892   48,978   46,342   49,652   7 % 22 % Nasdaq Composite® 17,446   19,114   20,370   21,122   21,456   22,660   23,725   23,366   23,242   23,462   22,668   21,591   24,892   15 % 43 % Standard & Poor’s® 500 5,569   5,912   6,205   6,339   6,460   6,688   6,840   6,849   6,846   6,939   6,879   6,529   7,209   10 % 29 % Client Assets (in billions of dollars) Beginning Client Assets 9,929.7   9,892.2   10,349.0   10,757.3   10,963.5   11,228.1   11,593.9   11,828.0   11,834.3   11,903.0   12,148.5   12,220.3   11,767.9   Net New Assets (1) 1.1   33.6   38.9   45.7   43.3   45.4   41.6   38.7   77.9   27.6   32.5   79.8   6.7   (92 %) N/M   Net Market (Losses) Gains (38.6 ) 423.2   369.4   160.5   221.3   320.4   192.5   (32.4 ) (9.2 ) 217.9   39.3   (532.2 ) 830.7   Total Client Assets (at month end) 9,892.2   10,349.0   10,757.3   10,963.5   11,228.1   11,593.9   11,828.0   11,834.3   11,903.0   12,148.5   12,220.3   11,767.9   12,605.3   7 % 27 % Core Net New Assets (1,2) 2.7   35.0   42.6   46.9   44.4   46.2   44.4   40.4   79.1   27.8   32.5   79.7   7.2   (91 %) 167 % Receiving Ongoing Advisory Services (at month end) Investor Services 688.2   711.2   737.6   747.9   771.1   792.5   807.6   817.9   824.8   849.5   866.8   841.3   895.0   6 % 30 % Advisor Services 4,353.0   4,525.6   4,687.4   4,765.1   4,888.2   5,016.7   5,106.1   5,155.9   5,195.5   5,311.7   5,394.3   5,201.5   5,525.7   6 % 27 % Client Accounts (at month end, in thousands) Active Brokerage Accounts 37,254   37,375   37,476   37,658   37,798   37,963   38,145   38,266   38,506   38,730   38,925   39,099   39,300   1 % 5 % Banking Accounts 2,066   2,077   2,096   2,116   2,137   2,150   2,172   2,189   2,214   2,239   2,258   2,281   2,305   1 % 12 % Workplace Plan Participant Accounts (3) 5,518   5,563   5,586   5,619   5,606   5,619   5,696   5,730   5,740   5,793   5,829   5,844   5,864   -   6 % Client Activity New Brokerage Accounts (in thousands) 439   336   323   377   382   384   429   365   474   476   395   428   437   2 % -   Client Daily Average Trades (DATs) (in thousands) 8,362   7,184   7,147   7,252   7,182   7,832   8,617   8,459   7,746   9,512   9,922   10,232   10,328   1 % 24 % Derivative Trades as a Percentage of Total Trades 18.4 % 21.0 % 20.8 % 21.3 % 22.5 % 22.3 % 23.8 % 21.7 % 21.4 % 20.1 % 20.1 % 20.4 % 21.4 % 100 bp 300 bp Margin Balances at month end (in billions of dollars) (4) 76.2   81.3   83.4   88.3   92.4   97.2   105.6   110.1   112.3   116.3   120.6   126.7   136.0   7 % 78 % Schwab Trading Activity Index ™ (STAX) (5) 41.2   39.7   40.7   41.8   43.7   46.1   48.1   48.8   48.5   50.0   57.3   56.0   50.1   (11 %) 22 % Selected Balances (in billions of dollars) Average Interest-Earning Assets (6) 430.4   418.7   416.5   416.7   414.4   419.8   428.3   429.1   436.0   441.7   434.2   436.8   444.6   2 % 3 % Transactional Sweep Cash (4,7) (at month end) 403.3   398.1   412.1   407.5   406.7   425.6   428.8   427.5   453.7   433.3   436.1   461.5   467.6   1 % 16 % Total Money Market Funds (at month end) 637.8   645.8   653.9   658.6   665.2   667.0   675.5   685.9   694.5   693.4   696.2   702.2   688.1   (2 %) 8 % Client Cash as a Percentage of Client Assets (8) 10.5 % 10.1 % 9.9 % 9.7 % 9.5 % 9.4 % 9.3 % 9.4 % 9.7 % 9.3 % 9.3 % 9.9 % 9.2 % (70) bp (130) bp Net Buy (Sell) Activity (in billions of dollars) (9) Mutual Funds (14.0 ) (3.2 ) (5.4 ) (3.4 ) (2.2 ) (4.8 ) (6.3 ) (7.3 ) (3.6 ) (0.9 ) (2.4 ) (8.5 ) (5.7 ) Exchange-Traded Funds (ETFs) 18.8   21.9   19.4   25.8   23.0   25.6   28.1   24.9   39.8   34.8   37.4   25.3   27.4   (1) Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs. (2) Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $25 billion) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods. (3) Includes accounts in Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services. Participants may be enrolled in services in more than one Workplace business. (4) Balances include margin loans and short credits related to certain long/short strategies from which the Company earns a fixed net yield. For the month of April 2026, margin loans totaled $29.6 billion and short credits totaled $30.5 billion. (5) For additional information regarding STAX, please visit: https://www.schwab.com/investment-research/stax/view-schwab-trading-activity-index. (6) Represents average total interest-earning assets on the Company's balance sheet. Beginning in December 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from average interest-earning assets. Prior period amounts have been adjusted accordingly. (7) Transactional sweep cash includes bank sweep deposits, and broker-dealer cash balances, other client cash held on the balance sheet (such as bank checking and savings deposits, short credits related to certain client long/short strategies, and broker-dealer non-interest-bearing credits), and bank deposit account balances; excludes proprietary and third-party CDs. (8) Schwab One®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank. (9) Represents the principal value of client mutual fund and ETF transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to investment managers. Excludes money market fund transactions. N/M - Not meaningful. Percentage changes greater than 200% are presented as not meaningful.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260514285596/en/ MEDIA:
Mayura Hooper
Charles Schwab
Phone: 415-667-1525 INVESTORS/ANALYSTS:
Jeff Edwards
Charles Schwab
Phone: 817-854-6177   Original: Schwab Reports Monthly Activity Highlights

Schwab Announces Redemption of All Outstanding Depositary Shares Representing Interests in Its 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series IMay 4, 2026 4:05 PM
Business Wire The Charles Schwab Corporation (“CSC”) today announced that, on June 1, 2026, it will redeem all of the 20,554 outstanding shares of its 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I (“Series I Preferred Stock”, CUSIP 808513BK0), and the corresponding 2,055,433 depositary shares (“Depositary Shares”), each representing a 1/100th interest in a share of the Series I Preferred Stock. The Depositary Shares will be redeemed at a redemption price of $1,000 per Depositary Share. The redemption price does not include the regular quarterly dividend that was declared and will be paid separately in the customary manner on June 1, 2026 to holders of record at the close of business on May 15, 2026. The Depositary Shares are held in book-entry form through the Depository Trust Company (“DTC”) and will be redeemed in accordance with the procedures of DTC. Payment to DTC for the Depositary Shares will be made by Equiniti Trust Company as redemption agent. The address for Equiniti Trust Company is 1110 Centre Pointe Curve, Suite 101, Mendota Heights, Minnesota 55120-4100, Attention: Corporate Actions. About Charles Schwab The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.1 million active brokerage accounts, 5.8 million workplace plan participant accounts, 2.3 million banking accounts, and $11.77 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260504581913/en/ MEDIA
Mayura Hooper
Charles Schwab
Phone: 415-667-1525 INVESTORS/ANALYSTS
Jeff Edwards
Charles Schwab
Phone: 817-854-6177 Original: Schwab Announces Redemption of All Outstanding Depositary Shares Representing Interests in Its 4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I

Schwab Trading Activity Index™: STAX Score Drops in April as Retail Clients Cut Tech ExposureMay 4, 2026 12:30 PM
Business Wire
Second consecutive month-over-month decline is the largest in a year despite major indexes rebounding


The Schwab Trading Activity Index™ (STAX) decreased to 50.10 in April, down from its score of 56.04 in March. The only index of its kind, the STAX is a proprietary, behavior-based index that analyzes retail investor stock positions and trading activity from Schwab’s millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260504816030/en/
“Retail clients turned more cautious in April, leading to a second consecutive month-over-month decline in the STAX score, which fell by the biggest margin we’ve seen in a year,” said Joe Mazzola, Head Trading and Derivatives Strategist at Charles Schwab. “Each April, we tend to see clients selling in advance of Tax Day and reinvesting afterward. This year, though, we also observed a meaningful rotation out of higher-beta individual holdings and into broad-based lower-beta ETFs, which not only led to a drop in the score but appears to indicate a meaningful dip in sentiment.”


Major indexes rebounded through most of the month amid high oil prices and ongoing Middle East tensions, with a ceasefire announcement easing near-term concerns. A powerful chip rally also took hold as the PHLX Semiconductor Index (SOX) rose 47% over the STAX period, including an 18-session winning streak.


The March jobs report showed better-than-expected payroll growth of 178,000. Retail sales and inflation data stayed above the Fed’s 2% goal, but roughly in line with expectations, reducing perceived odds of an interest rate hike and improving expectations for at least one rate cut later this year. Inflation concerns eased modestly as crude stabilized despite persistent worries about slowing growth.


Clients were net sellers in nine of 11 S&P 500 sectors, buying only Consumer Staples and Utilities—both of which are traditionally considered defensive. After Information Technology, the heaviest net selling was in Consumer Discretionary, followed by Financials and Energy. Notably, many Schwab clients shifted toward diversified exchange-traded funds (ETFs) in April; five of the month’s 10 most net-bought names were ETFs.


From a demographic perspective, market exposure fell across all age groups in April. Generation X (1965-1980) maintained the highest exposure to the markets, followed by Baby Boomers (1946-1964), Millennials (1981-1996) and finally Generation Z (1997-2012), which hit lows last seen in September of last year.


Sentiment also appeared to fall sharpest among the STAX sample’s most active traders, whose market exposure hit their lowest levels since December.


Popular names bought by all Schwab clients during the period included:



Microsoft Corp. (MSFT)



Tesla Inc. (TSLA)



Palantir Technologies Inc. (PLTR)



Micron Technology Inc. (MU)



Netflix Inc. (NFLX)



Names net sold by Schwab clients during the period included:



NVIDIA Corp. (NVDA)



Amazon.com Inc. (AMZN)



Advanced Micro Devices Inc. (AMD)



Intel Corp. (INTC)



Broadcom Inc. (AVGO)



About the STAX


The STAX value is calculated based on a complex proprietary formula. Each month, Schwab pulls a sample from its client base of millions of funded accounts, which includes accounts that completed a trade in the past month. The holdings and positions of this statistically significant sample are evaluated to calculate individual scores, and the median of those scores represents the monthly STAX.


For more information on the Schwab Trading Activity Index, please visit www.schwab.com/investment-research/stax. Additionally, Schwab clients can chart the STAX using the symbol $STAX in either the thinkorswim® or thinkorswim Mobile platforms.


Investing involves risk, including loss of principal. Past performance is no guarantee of future results.


Content intended for educational/informational purposes only. Not investment advice, or a recommendation of any security, strategy, or account type.


Historical data should not be used alone when making investment decisions. Please consult other sources of information and consider your individual financial position and goals before making an independent investment decision.


The STAX is not a tradable index. The STAX should not be used as an indicator or predictor of future client trading volume or financial performance for Schwab.


About Charles Schwab


At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity.


More information is available at aboutschwab.com. Follow us on X, Facebook, YouTube, and LinkedIn.


0526-AMES

View source version on businesswire.com: https://www.businesswire.com/news/home/20260504816030/en/
Margaret Farrell

Director, Corporate Communications

(203) 434-2240

margaret.farrell@schwab.com


Original: Schwab Trading Activity Index™: STAX Score Drops in April as Retail Clients Cut Tech Exposure

NYSE Content Update: Artemis II Crew to Take Part in 'Bell Moment' at NYSEMay 1, 2026 8:55 AM
PR Newswire (US)

NYSE issues a pre-market daily advisory direct from the trading floor.NEW YORK, May 1, 2026 /PRNewswire/ -- The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins. 



Ashley Mastronardi delivers the pre-market update on May 1stEquities are little changed Friday morning after the S&P 500 closed above 7,200 for the first time and clinched its best month since November 2020.Global X NYSE 100 ETF component Apple beat analyst estimates on the top and bottom lines, with outgoing CEO Tim Cook calling iPhone sales 'extraordinary.'BNY (NYSE: BK) has invested in sovereign AI platform Domyn to bolster financial AI goals, with executives joining NYSE Live to share details.The astronauts from the historic Artemis II mission will be at the NYSE today and join Kristen Scholer for a 'Bell Moment.'Opening Bell
KKR (NYSE: KKR) celebrates its 50th anniversary of foundingClosing Bell
Charles Schwab (NYSE: SCHW) celebrates National Investing DayFor market insights, IPO activity, and today's opening bell, download the NYSE TV App: TV.NYSE.com














View original content to download multimedia:https://www.prnewswire.com/news-releases/nyse-content-update-artemis-ii-crew-to-take-part-in-bell-moment-at-nyse-302760126.htmlSOURCE New York Stock Exchange

Original: NYSE Content Update: Artemis II Crew to Take Part in 'Bell Moment' at NYSE

Schwab Marks Second Annual National Investing Day with Industry and Community PartnersMay 1, 2026 4:00 AM
Business Wire
Charles Schwab Foundation commits more than $20 million supporting youth financial education over the next three years


Charles Schwab today kicked off the second annual National Investing Day, bringing together organizations from the financial industry and nonprofit community to participate in the day dedicated to investor education and empowerment.


National Investing Day is grounded in a simple idea: while millions of Americans participate in the markets, many still lack the confidence or resources to see themselves as investors. Expanding access to credible, early education remains a critical step in closing that gap. Now in its second year, National Investing Day is building momentum as a shared moment to highlight the power of investing and encourages people to dedicate at least one day in the year to explore how they can get invested and stay invested to help build a strong financial future.


Today’s observance includes an event at the New York Stock Exchange (NYSE), where teens from the New York area involved with Boys & Girls Clubs of America and SIFMA Foundation’s Stock Market Game™ will take part in a hands-on learning experience tied to real-world markets. Charles Schwab and students from each organization will ring the closing bell today.


“National Investing Day is about celebrating the power of investing,” said Rick Wurster, president and chief executive officer at Charles Schwab. “When people have access to educational tools and resources that help them learn about investing, they’ll build confidence and are more likely to stay invested over the long term. Young people, in particular, want to invest and need education and guidance. We are proud to engage them in a thoughtful way and provide support to get their education off to a good start.”


New data highlights increasing engagement and the need for financial literacy—particularly among younger investors—reinforcing the importance of early exposure to investing concepts and tools. According to a recent Schwab survey*:



70% of teens are very or extremely interested in investing.



Teens see investing as both a financial and educational opportunity. Top motivations for teens to start investing include:


To get more money (45%)



Paying for college (34%)



Learning how money works (33%)



Learning how investments work (33%)






Among surveyed parents of teens, 73% believe it is very important for teens to learn about investing.



Parents’ reasons for wanting teens to learn about investing include:


Teaching financial responsibility (69%)



Giving them a financial head start (65%)



Ensuring they learn important financial concepts like growing wealth over time (64%)






This year’s effort is supported by partners including the SIFMA Foundation and Boys & Girls Clubs of America, which work year-round to build young people’s financial knowledge and provide real-world investing experience. Through Schwab’s 20-year partnership with Boys & Girls Clubs of America, tweens and teens nationwide receive high-quality financial education through the Money Matters program.


As part of National Investing Day, Schwab is expanding access to hands-on investing education for young people nationwide through a new multi-million-dollar investment from the Charles Schwab Foundation. This effort brings together the SIFMA Foundation’s investing education expertise and Boys & Girls Clubs of America’s reach and dedication to empowering youth by integrating the Stock Market Game into its Money Matters curriculum. Through these and other leading nonprofits, Charles Schwab Foundation has committed more than $20 million to support youth financial education over the next three years.


“For many young people, investing can feel out of reach, something meant for someone else, much later in life,” said Jim Clark, President and CEO of Boys & Girls Clubs of America. “Hands-on learning experiences open doors to opportunity by building knowledge, growing real-world skills, and helping kids see what’s possible for their future. National Investing Day is a powerful reminder of what’s possible when we meet young people where they are and give them the tools to learn, practice, and succeed.”


Inspired by Founder and Co-Chairman, Charles (Chuck) Schwab, National Investing Day coincides with the 50th anniversary of May 1, 1975, the day the Securities and Exchange Commission eliminated fixed commission rates -- a watershed moment in financial services that came to be known as May Day. As many traditional wire house firms chose to raise commission fees, Chuck Schwab lowered them to help bring the power of investing to more people.


“Helping more people get invested and stay invested so they can become better off in their financial lives is at the heart of everything we do,” said Wurster. “Whether you are just starting out with your first financial plan or you’ve been invested for years, National Investing Day is for the investor in us all.”


Editor’s Note: National Investing Day is a great time to learn and start conversations about saving, investing, and long-term goals. Investing looks different for everyone. Start with one small step today—such as learning about investing, reviewing your plan, or increasing a contribution—and build over time. Here are ways to participate:


New investors or investor education:



Engage with Schwab’s free financial education content.



If you are an educator, learn about Invest it Forward, which connects volunteer financial professionals with teachers.



Talk with friends or family members to learn from each other about investing.



Create a financial plan.



Contribute to your 401k plan. Take advantage of your employer’s match if it’s available.



Once you have a plan, consider making an investment or executing your first trade.



Moderately experienced investors:



Schedule a check-in with your financial consultant or advisor.



Commit to learning more about new-to-you strategies.



Consider how Schwab’s seven investing principles can help guide you throughout market cycles.



Seasoned investors:



Pay it forward by introducing kids to the principles of investing with age-appropriate resources.



Remind older parents or family members to regularly check their accounts.



Create or join a forum or investing club in your community.



Find out more about National Investing Day and how you can participate at: National Investing Day | Charles Schwab


*Schwab Teen Investing Survey - An online survey of 1,000 teens aged 13 to 17 and 1,000 parents of teens aged 13 to 17 conducted October 13-27, 2025.


About Charles Schwab


At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity.


Charles Schwab Foundation is a 501(c)(3) nonprofit, private foundation funded by The Charles Schwab Corporation. It is not part of Charles Schwab & Co., Inc. or its parent company, The Charles Schwab Corporation.


The Foundation and The Charles Schwab Corporation and its affiliates are unaffiliated with SIFMA Foundation and Boys & Girls Clubs of America.


Investing involves risk, including loss of principal.


More information is available at www.aboutschwab.com. Follow us on X, Facebook, YouTube and LinkedIn.


(0526-9GBF)

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Media Contact:

Addis Aklilu

Charles Schwab

(929) 545-1700

addis.aklilu@schwab.com


Original: Schwab Marks Second Annual National Investing Day with Industry and Community Partners

Early Start, Long-Term Mindset: Teens Increasingly Interested in InvestingApril 28, 2026 6:00 AM
Business Wire
Seventy percent of teens say they are highly interested in investing, according to Schwab research


Investing is now a family matter with teens looking to invest directly and their parents wanting them to start out the right way, according to the 2026 Schwab Teen Investing Survey. According to new data released today, seven in 10 teenagers (70%), ages 13-17, say they are very or extremely interested in investing and nearly three-quarters (73%) of parents say it is very important for teens to learn about investing.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260428924357/en/Parents and teens agree on a lot when it comes to investing, but there are some areas of difference.
The research also shows that teens cite parents more than any other source for trusted investing advice (56%), and about a quarter (27%) want their parents to be heavily involved in their investing experience. That trust extends across a range of financial topics: teens say they trust their parents “a lot” when it comes to saving money (62%), being financially responsible (58%), earning money (58%), and explaining financial concepts (51%).


“Investing has never been more accessible, and we’re seeing people start earlier than ever. But when investors get started is when education matters most—especially now given the volume of information available, the range of products to evaluate, and the increasingly blurred boundary between investing and gambling. Our goal is to help young investors cut through the noise with the education and support they need to build strong habits from the start,” said Jonathan Craig, Head of Retail Investing at Charles Schwab.


Motivations


Teens point to a range of motivations for their interest, from wanting to start building their money as early as possible (45%) to investing toward specific goals like paying for college (34%). Parents are on the same page: they believe investing can help teach financial responsibility (69%), give teens a financial head start (65%), teach important financial concepts (64%), and help avoid financial mistakes in the future (52%).




Reasons teens want to invest








Get started as early as possible with investing and getting more money






45%








Pay for college






34%








Learn more about how money works






33%








Learn how investments work






33%








Buy something big, like a car






30%








Learn how financial markets work






28%







Getting a Head Start


Parents want their kids to get an earlier start with investing than they did. Most parents didn't become aware of investing until they were young adults or older (68%), and half (51%) wish they had started investing earlier. Meanwhile, today’s teens are already ahead of the curve: most say they became aware of investing during their pre-teen (44%) or teenage years (37%). Forty-two percent of teens say they first learned about investing from their parents or legal guardians, compared with 30% of parents who say the same about their own experience.




First became aware of investing






Teens






Parents








As a young child (9 years old or younger)






15%






1%








As a pre-teen (10 to 12 years old)






44%






5%








As a teenager (13 to 18 years old)






37%






26%







Both groups agree on the importance of financial education in schools. Sixty-five percent of parents and 50% of teens consider it among the top three most important subjects.




Top three most important subjects to learn in school








Parents






Money Management






65%








Math






62%








Computer Science/Information Technology






43%








Teens






Math






54%








Money Management






50%








Language Arts






34%







A Lot to Learn


Teens are candid about the gaps in their investing knowledge. Only 14% say they know a lot about investing, though 95% describe themselves as at least somewhat interested in learning more. Their top concerns about getting started include losing money because of a bad investment (59%), not knowing what to do when investing (42%), and feeling stress over how their investments might perform (41%).


When it comes to what they do know, teens point to stocks (50%) as the investment type they feel most familiar with. Half (50%) believe investing requires more skill than luck to make money, while 25% aren't sure.




Investments teens feel they know the most about








Stocks






50%








Cryptocurrencies






32%








Mutual funds and ETFs






25%








Certificates of Deposits (CDs)






23%








Meme stocks






23%








Bonds






21%







A Lot to Teach


About half of parents (46%) say they are very comfortable teaching their teens about investing, though most acknowledge that it’s no easy task. Sixty-two percent say teaching their kids how to invest is harder than teaching them how to drive a car. Fortunately, it’s an effort that has multifaceted benefits: just over half of teens (53%) view investing as a way to bond with their parents.


Many parents are encouraged by what they see in their teens. About half (48%) describe their teens as responsible, and many feel their teens are already outpacing where they were at the same age when it comes to saving money (48%), interest in wanting to invest (39%), understanding basic financial concepts (37%), and interest in learning more about investing (35%).




Top outcomes parents want teens to experience from investing








Seeing their investments grow






60%








Understanding financial responsibility






59%








Understanding risk






53%








Learning core principles of investing






49%








Getting an earlier start on saving and investing than they did






45%







Where Parents and Teens Agree, and Where They Don’t


Parents and teens agree on a lot when it comes to teen investing, but there are some areas of difference. Both groups agree that the most likely source of money for teens to invest will come from a job (teens: 53%, parents: 68%). And losing money is the top concern for both (teens: 59%, parents: 36%), though parents are less concerned overall. When it comes to investment approach, most parents (61%) prefer investments that have the potential to grow over time and are less likely to lose money quickly — and their teens agree, with 60% saying the same.


Where they diverge is the question of parental involvement. Fifty percent of parents want to be heavily involved in deciding how much money goes into investments, and 52% want to be informed on their teens’ portfolio performance. Most teens, meanwhile, prefer a lighter touch: 60% say they would want their parents to be only somewhat involved, and 64% would want their parents to have only a little control over their investment decisions.


Schwab Empowers Young Investors


To empower more teens to reap the benefits of starting to invest early, Schwab recently debuted the Schwab Teen Investor™ account, a joint brokerage account for young people ages 13 to 17 and their parent or legal guardian. The Schwab Teen Investor account lets teens invest directly and offers age-appropriate education and guardrails. Both parents and teens can monitor the account, trade, and move money in and out. The account provides hands-on experience with Schwab's mobile app, Schwab.com, and the thinkorswim® trading platform—along with access to 24/7 support from Schwab professionals.


For more information about Schwab Teen Investor account, visit www.schwab.com/teen-account.


About the Schwab Teen Investing Survey


The online survey was conducted by Logica Research from October 13, 2025, to October 27, 2025, among a national sample of 2,000 Americans, including 1,000 parents of teenagers and 1,000 teenagers. Quotas were set to balance the national samples on key demographic variables.


About Charles Schwab


At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity.


More information is available at www.aboutschwab.com. Follow us on X, Facebook, YouTube and LinkedIn.


Disclosures


Investing involves risks, including the loss of principal invested.


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Meredith Richard

Charles Schwab

646-343-7419

meredith.richard@schwab.com


Original: Early Start, Long-Term Mindset: Teens Increasingly Interested in Investing

Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock DividendsApril 23, 2026 4:18 PM
Business Wire
The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.32 per common share. The dividend is payable May 22, 2026 to stockholders of record as of the close of business on May 8, 2026.


In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable June 1, 2026 to stockholders of record as of the close of business on May 15, 2026:




Preferred Stock Series






Dividend Per Share






Dividend Per Depositary Share








5.95% Non-Cumulative Perpetual Preferred Stock, Series D




Dividend Period: March 1, 2026-May 31, 2026






$14.88






$0.372000








5.00% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F




Dividend Period: December 1, 2025-May 31, 2026






$2,500.00






$25.000000








4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series H




Dividend Period: March 1, 2026-May 31, 2026






$1,000.00






$10.000000








4.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series I




Dividend Period: March 1, 2026-May 31, 2026






$1,000.00






$10.000000








4.450% Non-Cumulative Perpetual Preferred Stock, Series J




Dividend Period: March 1, 2026-May 31, 2026






$11.13






$0.278250








5.000% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series K




Dividend Period: March 1, 2026-May 31, 2026






$1,250.00






$12.500000







About Charles Schwab


The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.1 million active brokerage accounts, 5.8 million workplace plan participant accounts, 2.3 million banking accounts, and $11.77 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260423126142/en/
MEDIA:

Mayura Hooper

Charles Schwab

Phone: 415-667-1525


INVESTORS/ANALYSTS:

Jeff Edwards

Charles Schwab

Phone: 817-854-6177


Original: Schwab Declares Quarterly Common Stock Dividend and Declares Preferred Stock Dividends

Charles Schwab Tops Q1 Forecasts on Strong Client ActivityApril 16, 2026 10:16 AM
IH Market News
The Charles Schwab Corporation (NYSE:SCHW) delivered first-quarter results ahead of analyst expectations, supported by high levels of client engagement and record trading volumes.The firm reported adjusted earnings per share of $1.43, beating the $1.39 consensus by $0.04. Revenue reached a record $6.48 billion, slightly above the $6.47 billion forecast and up 16% from $5.6 billion in the same period last year. During the quarter, Schwab brought in $140 billion in core net new assets and opened 1.3 million new brokerage accounts.Shares rose 1.2% following the results. On a GAAP basis, earnings per share came in at $1.37, marking a 38% increase from $0.99 in the first quarter of 2025.“Driven by robust client engagement across our wealth, trading, and lending solutions, total first quarter revenue increased 16% year-over-year to $6.5 billion,” said CFO Mike Verdeschi. The company said its diversified business model helped deliver strong performance despite an uncertain macroeconomic backdrop.Average daily trading volume hit a record 9.9 million trades, up 34% year on year. Asset management and administration fees rose 15% to $1.8 billion, while trading revenue increased 20% compared with the prior-year quarter. Total client assets grew 19% to $11.77 trillion.Net interest margin for the quarter stood at 2.88%. Client transactional sweep cash balances reached $461.5 billion at the end of March, up $7.8 billion from the previous quarter. Bank loan balances rose 29% year on year to $60.9 billion, while margin loan balances increased 13% since year-end 2025 to $126.7 billion.Schwab returned $2.4 billion to shareholders during the quarter through the repurchase of 24.3 million shares and also raised its quarterly dividend by 19% to $0.32 per share.Charles Schwab stock price

Original: Charles Schwab Tops Q1 Forecasts on Strong Client Activity

Charles Schwab Announces Details of Spot Crypto Trading LaunchApril 16, 2026 9:33 AM
Business Wire
Retail clients will have access to Schwab Crypto™ alongside the research, education, service and comprehensive investing, trading, wealth, and banking offers they already enjoy at Schwab


Charles Schwab today announced Schwab Crypto™, a spot crypto trading offer that will begin a phased rollout to retail clients in the coming weeks. Schwab Crypto will provide direct access to bitcoin and ethereum trading, combined with educational content and experienced professional support all at a great value.


In a recent Schwab survey* of nearly 500 current and prospective cryptocurrency investors, respondents identified three key factors when choosing a firm for cryptocurrency trading: low, transparent pricing; brand familiarity and reputation; and confidence that assets will be kept secure.


“We know our clients want to conduct more of their financial lives at Schwab,” said Jonathan Craig, Head of Retail Investing at Charles Schwab. “With Schwab Crypto, clients who want direct access to the asset class can trade it alongside their other investments, while benefiting from the service, education, and research they expect from us.”


A holistic crypto investing experience


At launch, Schwab Crypto will include:



Direct trading in bitcoin and ethereum, two of the most well-known and established cryptocurrencies, which together represent approximately three-quarters of the crypto market capitalization.



In-depth digital assets education and resources, including insights and commentary from the Schwab Center for Financial Research and crypto-focused content through Schwab Coaching®, to help investors understand the digital assets market and how digital assets fit into a broader investing strategy.



The ability to view and trade cryptocurrency and traditional investments side-by-side across Schwab.com, Schwab Mobile, and thinkorswim®, Schwab’s award-winning trading platform.



Access to Schwab’s award-winning 24/7 support from thousands of tenured service professionals by phone or chat.



Pricing among the lowest in the industry at 75 basis points on the dollar value of each trade.



Over time, Schwab plans to add additional cryptocurrencies to the platform, as well as transfer capabilities for both deposits and withdrawals, allowing clients with existing digital asset investments to bring them to Schwab alongside their other investments.


“With Schwab Crypto, investors can access familiar cryptocurrencies within an all-in-one investing and banking experience, backed by an ecosystem of education, tools, resources, and support so they can make informed decisions about how crypto might fit into their broader investing goals,” said Joe Vietri, Head of Digital Assets at Charles Schwab.


“Whether you’re new to crypto and looking for a firm you know and trust, or you already own digital assets, our goal is to be the destination of choice for retail investors who want to incorporate digital assets into their portfolios with confidence,” he added.


How Schwab Crypto works


Schwab clients will maintain a separate crypto account through Schwab Crypto, offered by Charles Schwab Premier Bank, SSB, (“CSPB”), linked directly to their brokerage accounts. CSPB will serve as the custodian of clients’ digital assets, responsible for safekeeping and record-keeping.


Paxos, a leading OCC-regulated blockchain infrastructure provider, will deliver sub-custody and trade execution services. Utilizing a federally overseen trust model and proven enterprise-grade technology, Paxos enables the world’s most sophisticated financial institutions to bring digital asset solutions to their customers.


"Paxos is a strong partner for blockchain infrastructure. Their regulatory standing and digital asset expertise will help us deliver the seamless, integrated experience our clients expect from Schwab," said Vietri.


Schwab is already a leader in digital assets, with clients holding approximately 20% of spot crypto exchange-traded products. The introduction of spot crypto trading builds on the many ways Schwab clients can already access digital asset investments including spot cryptocurrency Exchange-traded products (ETPs), crypto futures, options on spot crypto ETPs, crypto-related ETFs and mutual funds that invest in the broader digital asset ecosystem.


For an opportunity to gain early access to Schwab Crypto, and to receive insights and education about cryptocurrency, visit Schwab.com/cryptocurrency.


*An online survey of 460 cryptocurrency owners and intended owners aged 21 and over conducted July 31-September 1, 2025.


About Charles Schwab


At 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 advisors and employers who serve them, and championing our clients’ goals with passion and integrity.


More information is available at aboutschwab.com. Follow us on X, Facebook, YouTube, and LinkedIn.


Disclosures


Cryptocurrency products and the Schwab Crypto™ account are offered by Charles Schwab Premier Bank, SSB, Member FDIC.


Charles Schwab Premier Bank, SSB and Charles Schwab & Co., Inc. are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Charles Schwab & Co., Inc. performs certain operations functions on behalf of Charles Schwab Premier Bank, SSB.


Investing in cryptocurrencies involves risk, including the risk of total loss of principal invested.


Cryptocurrencies such as bitcoin and ethereum are highly volatile, are not backed or guaranteed by the bank, any central bank or government; are not deposits; are not FDIC insured; are not SIPC protected; and lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have.


Due to the high level of risk, investors should view digital currencies as a purely speculative instrument. Additional risks apply.


Cryptocurrencies offered by Charles Schwab Premier Bank, SSB are not securities and are not protected by SIPC. Cryptocurrencies offered by Charles Schwab Premier Bank, SSB are not insured by the FDIC, are not deposits; and may lose value.


By signing up for Schwab Crypto updates, you’re opting in to receive information and notifications about the Schwab Crypto account, including when you can apply to open an account— subject to review and approval.


Not all applicants will be eligible and receiving a notification is not an indication of eligibility. Timing for the ability to apply for a Schwab Crypto account is subject to availability and the discretion of Charles Schwab Premier Bank, SSB.


Schwab Crypto™ accounts are available (i) in all U.S. states except for New York and Louisiana and (ii) are not available in any U.S. territories or in any international jurisdictions. Accounts may be restricted or closed if you move to an unsupported jurisdiction. Not all clients will qualify.


Cryptocurrency market data and other information is provided by Paxos Trust Company, LLC and/or other third-party providers.


Futures, and Futures options trading involves substantial risk and is not suitable for all investors. Please read the Risk Disclosure Statement for Futures and Options prior to trading futures products.


Futures accounts are not protected by the Securities Investor Protection Corporation (SIPC).


Read additional CFTC and NFA futures and forex public disclosures for Charles Schwab Futures and Forex LLC.


Futures and futures options trading services provided by Charles Schwab Futures and Forex LLC. Trading privileges subject to review and approval. Not all clients will qualify.


Charles Schwab Futures and Forex LLC is a CFTC-registered Futures Commission Merchant and NFA Forex Dealer Member.


Charles Schwab Futures and Forex LLC (NFA Member) and Charles Schwab & Co., Inc. (Member SIPC) are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.


Equity and index options carry a high level of risk and are not suitable for all investors. Certain requirements must be met to trade options through Schwab. Please read the Options Disclosure Document titled "Characteristics and Risks of Standardized Options" before considering any option transaction. Supporting documentation for any claims or statistical information is available upon request.


The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.


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MEDIA:

Margaret Farrell

Director, Enterprise Communications

(203) 434-2240

margaret.farrell@schwab.com


Original: Charles Schwab Announces Details of Spot Crypto Trading Launch

Client Growth & Engagement Drive Record Schwab 1Q ResultsApril 16, 2026 7:30 AM
Business Wire
March Core Net New Assets Equal $79.7 Billion, Second Highest Month Ever

Robust Engagement Drove 1Q Net Revenues to a Record $6.5 Billion, Up 16% Year-Over-Year

Record GAAP Earnings Per Share of $1.37; $1.43 Adjusted (1) – up 38% versus 1Q25


The Charles Schwab Corporation reported net income for the first quarter totaling $2.5 billion, or earnings per share of $1.37. Excluding $143 million of pre-tax transaction-related costs, adjusted (1) net income and earnings per share equaled $2.6 billion and $1.43, respectively.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260416458593/en/


Client Driven Growth






 






$140B

1Q26 Core

Net New Assets







“Schwab’s strong business momentum continued into 2026 as investors opened 1.3 million new brokerage accounts and brought $140 billion of core net new assets to the firm during the first quarter. Excluding a planned mutual fund clearing deconversion, asset gathering totaled $158 billion – an annualized growth rate of 5.4%.”

President & CEO Rick Wurster








 






 






 







 








Deepen Client Relationships






 






46%

1Q26 Managed Investing




Net Flows Growth







“Clients continue to turn to us for more of their financial lives, helping wealth and banking solutions reach record levels in 1Q. Led by Schwab Wealth Advisory™, Managed Investing net flows grew 46% year-over-year while bank loans expanded 29% versus 1Q25 to $60.9 billion.”

President & CEO Rick Wurster








 






 






 







 








Diversified Revenue Growth






 






16%

1Q26 Revenue




Growth vs. 1Q25







“Schwab’s diversified model delivered record results within an increasingly uncertain macroeconomic environment. Driven by robust client engagement across our wealth, trading, and lending solutions, total first quarter revenue increased 16% year-over-year to $6.5 billion.”

CFO Mike Verdeschi








 






 






 







 








Opportunistic Capital Return






 






$2.4B

1Q26 Common Stock Repurchases







“During 1Q26, the company repurchased 24.3 million shares for $2.4 billion and increased its common stock dividend by 19%. These actions reflect Schwab’s strong capital position as well as the sustained performance of the firm’s through-the-cycle financial model.”

CFO Mike Verdeschi







1Q26 Client and Business Highlights



Total client assets increased 19% year-over-year to $11.77 trillion



Core net new assets totaled $140.0 billion, including a $17.5 billion outflow from a planned mutual fund clearing client deconversion; excluding this planned item, core net new assets for the quarter equaled $157.5 billion



New brokerage account openings equaled 1.3 million, pushing active brokerage accounts and total client accounts to 39.1 million and 47.2 million, respectively



Managed Investing Solutions net flows grew 46% versus 1Q25



Bank loan balances equaled $60.9 billion at March month-end, up 29% year-over-year



Margin loan balances increased 13% versus year-end 2025 to end the quarter at $126.7 billion – including $21.3 billion related to long/short strategies implemented by RIA clients (2)



Daily average trading volume reached a record 9.9 million – up 34% versus 1Q25



Launched the Schwab Teen Investor™ Account, a unique and hands-on investing experience for young people ages 13–17



Closed Forge Global acquisition in early March



Schwab ranked #1 Overall Broker by StockBrokers.com, 2 years in a row (3)





 







Three Months Ended

March 31,






 






%








Financial Highlights







2026






 






2025






 






Change








 







 






 






 






 






 








Net revenues (in millions)







$






6,482






 






 






$






5,599






 






 






16






%








Net income (in millions)







 






 






 






 






 








GAAP







$






2,479






 






 






$






1,909






 






 






30






%








Adjusted







$






2,588






 






 






$






2,008






 






 






29






%








Diluted earnings per common share







 






 






 






 






 








GAAP







$






1.37






 






 






$






.99






 






 






38






%








Adjusted







$






1.43






 






 






$






1.04






 






 






38






%








Pre-tax profit margin







 






 






 






 






 








GAAP







 






49.2






%






 






 






43.8






%






 






 








Adjusted







 






51.4






%






 






 






46.2






%






 






 








Return on average common stockholders’ equity (annualized)







 






23






%






 






 






18






%






 






 








Return on tangible common equity (annualized)







 






40






%






 






 






35






%






 






 









Note:







Items labeled “adjusted” are non-GAAP financial measures; further details are included on pages 10-12 of this release. All per-share results are rounded to the nearest cent, based on weighted-average diluted common shares outstanding.







1Q26 Financial Commentary



Quarterly net revenues grew year-over-year by 16% to a record $6.5 billion



Net interest margin for the quarter was 2.88%



Client transactional sweep cash balances ended March at $461.5 billion, an increase of $7.8 billion versus the prior quarter-end, reflecting seasonality, organic growth, and client asset allocation decisions



Average interest-earning assets for the quarter equaled $437.7 billion, up 2% versus 1Q25



Asset management and administration fees grew by 15% year-over-year to $1.8 billion, powered by the firm’s organic growth and investors’ utilization of our wealth and asset management solutions



Trading revenue increased 20% versus 1Q25 due to record engagement



GAAP expenses for the quarter increased 5% year-over-year; excluding acquisition and integration-related costs and the amortization of acquired intangibles of $143 million, adjusted total expenses (1) were up 5% relative to 1Q25



Capital ratios across the firm remained strong – including preliminary consolidated Tier 1 Leverage and adjusted Tier 1 Leverage (1) equaling 8.9% and 6.8%, respectively



Increased the quarterly common stock dividend by 19% to $.32 per share



Repurchased 24.3 million shares of our common stock for $2.4 billion during the quarter





(1)







Further details on non-GAAP financial measures and a reconciliation of such measures to GAAP reported results are included on pages 10-12 of this release.








(2)







Client margin loans and short credits related to certain long/short strategies utilized by RIAs are excluded from interest-earning assets and company funding sources.








(3)







The StockBrokers.com 2026 Annual Awards (https://www.stockbrokers.com/annual-awards-2026) were announced on January 27, 2026. Criteria, testing methodologies, and rankings were determined by StockBrokers.com. Companies were assessed across StockBrokers.com’s 7 Primary Categories: Range of Investments, Advanced Trading, Mobile Trading Apps, Research, Education, Ease of Use, and Overall.







Spring Business Update


The company will host its Spring Business Update for institutional investors this morning from 7:30 a.m. - 8:30 a.m. CT, 8:30 a.m. - 9:30 a.m. ET.


Registration for this Update webcast is accessible at https://www.aboutschwab.com/schwabevents.


Forward-Looking Statements


This press release contains forward-looking statements relating to the company’s business momentum, client relationships, capital position, and through-the-cycle financial model. These forward-looking statements reflect management’s expectations as of the date hereof. Achievement of these expectations and objectives is subject to risks and uncertainties that could cause actual results to differ materially from the expressed expectations. Important factors that may cause such differences are described in the company’s most recent reports on Form 10-K and Form 10-Q, which have been filed with the Securities and Exchange Commission and are available on the company’s website (https://www.aboutschwab.com/financial-reports) and on the Securities and Exchange Commission’s website (https://www.sec.gov). The company makes no commitment to update any forward-looking statements.


About Charles Schwab


The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 39.1 million active brokerage accounts, 5.8 million workplace plan participant accounts, 2.3 million banking accounts, and $11.77 trillion in client assets. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, https://www.sipc.org), and its affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent, fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services™. Its primary banking subsidiary, Charles Schwab Bank, SSB (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at https://www.aboutschwab.com.




THE CHARLES SCHWAB CORPORATION








Consolidated Statements of Income








(In millions, except per share amounts)








(Unaudited)








 






 






 








 






 






Three Months Ended

March 31,








 






 






2026






 






2025








Net Revenues







 






 






 








Interest revenue







$






3,962






 






 






$






3,757






 








Interest expense







 






(818






)






 






 






(1,051






)








Net interest revenue







 






3,144






 






 






 






2,706






 








Asset management and administration fees







 






1,759






 






 






 






1,530






 








Trading revenue







 






1,089






 






 






 






908






 








Bank deposit account fees







 






295






 






 






 






245






 








Other







 






195






 






 






 






210






 








Total net revenues







 






6,482






 






 






 






5,599






 








Expenses Excluding Interest







 






 






 








Compensation and benefits







 






1,812






 






 






 






1,672






 








Professional services







 






303






 






 






 






269






 








Occupancy and equipment







 






285






 






 






 






274






 








Advertising and market development







 






101






 






 






 






96






 








Communications







 






163






 






 






 






153






 








Depreciation and amortization







 






201






 






 






 






217






 








Amortization of acquired intangible assets







 






132






 






 






 






130






 








Regulatory fees and assessments







 






75






 






 






 






89






 








Other







 






222






 






 






 






244






 








Total expenses excluding interest







 






3,294






 






 






 






3,144






 








Income before taxes on income







 






3,188






 






 






 






2,455






 








Taxes on income







 






709






 






 






 






546






 








Net Income







 






2,479






 






 






 






1,909






 








Preferred stock dividends and other







 






82






 






 






 






113






 








Net Income Available to Common Stockholders







$






2,397






 






 






$






1,796






 








Weighted-Average Common Shares Outstanding:







 






 






 








Basic







 






1,746






 






 






 






1,817






 








Diluted







 






1,752






 






 






 






1,822






 








Earnings Per Common Shares Outstanding:







 






 






 








Basic







$






1.37






 






 






$






.99






 








Diluted







$






1.37






 






 






$






.99






 















 




THE CHARLES SCHWAB CORPORATION








Financial and Operating Highlights








(Unaudited)













 



 







Q1-26 % change







2026







2025








(In millions, except per share amounts and as noted)







vs.







vs.







First







Fourth







Third







Second







First









Q1-25







Q4-25







Quarter







Quarter







Quarter







Quarter







Quarter








Net Revenues







 







 







 







 







 







 







 








Net interest revenue







16






%







(1






)%







$






3,144






 







$






3,172






 







$






3,050






 







$






2,822






 







$






2,706






 








Asset management and administration fees







15






%







2






%







 






1,759






 







 






1,733






 







 






1,673






 







 






1,570






 







 






1,530






 








Trading revenue







20






%







2






%







 






1,089






 







 






1,066






 







 






995






 







 






952






 







 






908






 








Bank deposit account fees







20






%







24






%







 






295






 







 






238






 







 






247






 







 






247






 







 






245






 








Other







(7






)%







54






%







 






195






 







 






127






 







 






170






 







 






260






 







 






210






 








Total net revenues







16






%







2






%







 






6,482






 







 






6,336






 







 






6,135






 







 






5,851






 







 






5,599






 








Expenses Excluding Interest







 







 







 







 







 







 







 








Compensation and benefits







8






%







11






%







 






1,812






 







 






1,630






 







 






1,653






 







 






1,536






 







 






1,672






 








Professional services







13






%







(12






)%







 






303






 







 






344






 







 






293






 







 






291






 







 






269






 








Occupancy and equipment







4






%







(3






)%







 






285






 







 






293






 







 






280






 







 






270






 







 






274






 








Advertising and market development







5






%







(12






)%







 






101






 







 






115






 







 






101






 







 






108






 







 






96






 








Communications







7






%







15






%







 






163






 







 






142






 







 






149






 







 






176






 







 






153






 








Depreciation and amortization







(7






)%







(2






)%







 






201






 







 






206






 







 






212






 







 






215






 







 






217






 








Amortization of acquired intangible assets







2






%







4






%







 






132






 







 






127






 







 






127






 







 






128






 







 






130






 








Regulatory fees and assessments







(16






)%







21






%







 






75






 







 






62






 







 






59






 







 






77






 







 






89






 








Other







(9






)%







(6






)%







 






222






 







 






237






 







 






240






 







 






247






 







 






244






 








Total expenses excluding interest







5






%







4






%







 






3,294






 







 






3,156






 







 






3,114






 







 






3,048






 







 






3,144






 








Income before taxes on income







30






%







—






 







 






3,188






 







 






3,180






 







 






3,021






 







 






2,803






 







 






2,455






 








Taxes on income







30






%







(2






)%







 






709






 







 






721






 







 






663






 







 






677






 







 






546






 








Net Income







30






%







1






%







 






2,479






 







 






2,459






 







 






2,358






 







 






2,126






 







 






1,909






 








Preferred stock dividends and other







(27






)%







(11






)%







 






82






 







 






92






 







 






81






 







 






149






 







 






113






 








Net Income Available to Common Stockholders







33






%







1






%







$






2,397






 







$






2,367






 







$






2,277






 







$






1,977






 







$






1,796






 








Earnings per common share:







 







 







 







 







 







 







 








Basic







38






%







2






%







$






1.37






 







$






1.34






 







$






1.26






 







$






1.09






 







$






.99






 








Diluted







38






%







3






%







$






1.37






 







$






1.33






 







$






1.26






 







$






1.08






 







$






.99






 








Dividends declared per common share







19






%







19






%







$






.32






 







$






.27






 







$






.27






 







$






.27






 







$






.27






 








Weighted-average common shares outstanding:







 







 







 







 







 







 







 








Basic







(4






)%







(1






)%







 






1,746






 







 






1,772






 







 






1,806






 







 






1,817






 







 






1,817






 








Diluted







(4






)%







(1






)%







 






1,752






 







 






1,777






 







 






1,811






 







 






1,822






 







 






1,822






 








Performance Measures







 







 







 







 







 







 







 








Pre-tax profit margin







 







 







 






49.2






%







 






50.2






%







 






49.2






%







 






47.9






%







 






43.8






%








Return on average common stockholders’ equity (annualized) (1)







 







 







 






23






%







 






22






%







 






21






%







 






19






%







 






18






%








Financial Condition (at quarter end, in billions)







 







 







 







 







 







 







 








Cash and cash equivalents







29






%







(2






)%







$






45.0






 







$






46.0






 







$






30.6






 







$






32.2






 







$






35.0






 








Cash and investments segregated







4






%







(7






)%







 






39.8






 







 






42.9






 







 






47.8






 







 






45.6






 







 






38.4






 








Receivables from brokers, dealers, and clearing organizations







N/M






 







64






%







 






11.8






 







 






7.2






 







 






4.7






 







 






4.3






 







 






2.9






 








Receivables from brokerage clients — net







26






%







1






%







 






106.2






 







 






104.7






 







 






93.8






 







 






82.8






 







 






84.4






 








Available for sale securities







(18






)%







(2






)%







 






61.1






 







 






62.4






 







 






62.3






 







 






67.6






 







 






74.8






 








Held to maturity securities







(8






)%







(2






)%







 






131.7






 







 






134.0






 







 






136.7






 







 






139.7






 







 






143.8






 








Bank loans — net







29






%







5






%







 






60.9






 







 






58.0






 







 






53.6






 







 






50.4






 







 






47.1






 








Total assets







7






%







—






 







 






493.3






 







 






491.0






 







 






465.3






 







 






458.9






 







 






462.9






 








Bank deposits







3






%







(1






)%







 






253.0






 







 






255.7






 







 






239.1






 







 






233.1






 







 






246.2






 








Payables to brokers, dealers, and clearing organizations







79






%







9






%







 






28.1






 







 






25.7






 







 






22.4






 







 






18.6






 







 






15.7






 








Payables to brokerage clients







17






%







1






%







 






118.0






 







 






116.3






 







 






115.4






 







 






109.4






 







 






100.6






 








Accrued expenses and other liabilities







9






%







(6






)%







 






12.0






 







 






12.8






 







 






11.4






 







 






10.8






 







 






11.0






 








Other short-term borrowings







81






%







81






%







 






12.5






 







 






6.9






 







 






6.5






 







 






8.5






 







 






6.9






 








Federal Home Loan Bank borrowings







(100






)%







(100






)%







 






—






 







 






1.9






 







 






0.9






 







 






9.0






 







 






11.5






 








Long-term debt







(5






)%







(8






)%







 






20.5






 







 






22.2






 







 






20.2






 







 






20.2






 







 






21.5






 








Total liabilities







7






%







1






%







 






444.1






 







 






441.6






 







 






415.9






 







 






409.5






 







 






413.4






 








Stockholders’ equity







(1






)%







—






 







 






49.2






 







 






49.4






 







 






49.4






 







 






49.5






 







 






49.5






 








Total liabilities and stockholders’ equity







7






%







—






 







 






493.3






 







 






491.0






 







 






465.3






 







 






458.9






 







 






462.9






 








Other







 







 







 







 







 







 







 








Full-time equivalent employees (at quarter end, in thousands)







4






%







2






%







 






33.5






 







 






33.0






 







 






32.7






 







 






32.6






 







 






32.1






 








Capital expenditures — purchases of equipment, office facilities, and property, net (in millions)







11






%







9






%







$






173






 







$






158






 







$






152






 







$






136






 







$






156






 








Expenses excluding interest as a percentage of average client assets (annualized)







 







 







 






0.11






%







 






0.11






%







 






0.11






%







 






0.12






%







 






0.12






%








Clients’ Daily Average Trades (DATs) (in thousands)







34






%







20






%







 






9,899






 







 






8,274






 







 






7,421






 







 






7,571






 







 






7,391






 








Number of Trading Days







2






%







(3






)%







 






61.0






 







 






63.0






 







 






63.5






 







 






62.0






 







 






60.0






 








Revenue Per Trade (2)







(12






)%







(12






)%







$






1.80






 







$






2.05






 







$






2.11






 







$






2.03






 







$






2.05






 








 







 







 







 







 







 







 







 









(1)







Return on average common stockholders’ equity is calculated using net income available to common stockholders divided by average common stockholders’ equity.








(2)







Revenue per trade is calculated as trading revenue divided by the product of DATs and the number of trading days.







N/M Not meaningful. Percentage changes greater than 200% are presented as not meaningful.







THE CHARLES SCHWAB CORPORATION








Net Interest Revenue Information








(In millions, except ratios or as noted)








(Unaudited)








 






 






 








 






 






Three Months Ended

March 31,








 






 






2026






 






 






2025








 






 






Average




Balance






 






Interest




Revenue/




Expense






 






Average




Yield/




Rate






 






 






Average




Balance






 






Interest




Revenue/




Expense






 






Average




Yield/




Rate








Interest-earning assets







 






 






 






 






 






 






 






 






 






 






 






 








Cash and cash equivalents







$






32,477






 






 






$






288






 






 






3.56






%






 






 






$






30,483






 






 






$






328






 






 






4.31






%








Cash and investments segregated







 






43,946






 






 






 






397






 






 






3.61






%






 






 






 






38,611






 






 






 






412






 






 






4.27






%








Receivables from brokerage clients (1)







 






104,520






 






 






 






1,499






 






 






5.74






%






 






 






 






82,902






 






 






 






1,379






 






 






6.65






%








Available for sale securities (2)







 






65,255






 






 






 






326






 






 






2.00






%






 






 






 






84,590






 






 






 






433






 






 






2.05






%








Held to maturity securities (2)







 






132,192






 






 






 






567






 






 






1.72






%






 






 






 






144,401






 






 






 






622






 






 






1.72






%








Bank loans







 






59,285






 






 






 






627






 






 






4.27






%






 






 






 






46,043






 






 






 






493






 






 






4.32






%








Total interest-earning assets







 






437,675






 






 






 






3,704






 






 






3.39






%






 






 






 






427,030






 






 






 






3,667






 






 






3.44






%








Securities lending revenue







 






 






 






91






 






 






 






 






 






 






 






 






60






 






 






 








Other interest revenue (1)







 






 






 






167






 






 






 






 






 






 






 






 






30






 






 






 








Total interest-earning assets







$






437,675






 






 






$






3,962






 






 






3.63






%






 






 






$






427,030






 






 






$






3,757






 






 






3.52






%








Funding sources







 






 






 






 






 






 






 






 






 






 






 






 








Bank deposits







$






242,679






 






 






$






118






 






 






0.20






%






 






 






$






245,719






 






 






$






436






 






 






0.72






%








Payables to brokers, dealers, and clearing organizations







 






25,508






 






 






 






217






 






 






3.40






%






 






 






 






14,177






 






 






 






137






 






 






3.88






%








Payables to brokerage clients (1)







 






105,095






 






 






 






56






 






 






0.22






%






 






 






 






90,173






 






 






 






49






 






 






0.22






%








Other short-term borrowings







 






9,103






 






 






 






92






 






 






4.07






%






 






 






 






6,695






 






 






 






82






 






 






4.96






%








Federal Home Loan Bank borrowings







 






1,277






 






 






 






12






 






 






3.85






%






 






 






 






10,725






 






 






 






133






 






 






4.94






%








Long-term debt







 






21,702






 






 






 






201






 






 






3.71






%






 






 






 






22,281






 






 






 






212






 






 






3.81






%








Total interest-bearing liabilities







 






405,364






 






 






 






696






 






 






0.69






%






 






 






 






389,770






 






 






 






1,049






 






 






1.08






%








Non-interest-bearing funding sources







 






32,311






 






 






 






 






 






 






 






 






37,260






 






 






 






 






 








Other interest expense (1)







 






 






 






122






 






 






 






 






 






 






 






 






2






 






 






 








Total funding sources







$






437,675






 






 






$






818






 






 






0.75






%






 






 






$






427,030






 






 






$






1,051






 






 






0.99






%








Net interest revenue







 






 






$






3,144






 






 






2.88






%






 






 






 






 






$






2,706






 






 






2.53






%









(1)







Beginning in the fourth quarter of 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from interest-earning assets and funding sources. Prior period amounts and average yields have been reclassified and recalculated to reflect this change. Average margin loans related to these client strategies totaled $14.1 billion and $235 million for the three months ended March 31, 2026 and 2025, respectively. Average short credits related to these client strategies totaled $14.4 billion and $237 million for the three months ended March 31, 2026 and 2025, respectively. Interest revenue and expense related to these client strategies are presented in other interest revenue and other interest expense, respectively.








(2)







Amounts have been calculated based on amortized cost.









 




THE CHARLES SCHWAB CORPORATION








Asset Management and Administration Fees Information








(In millions, except ratios or as noted)








(Unaudited)








 






 






 








 






 






Three Months Ended

March 31,








 






 






2026






 






 






2025








 






 






Average




Client




Assets






 






Revenue






 






Average




Fee






 






 






Average




Client




Assets






 






Revenue






 






Average




Fee








Schwab money market funds







$






696,558






 






 






$






468






 






 






0.27






%






 






 






$






621,474






 






 






$






418






 






 






0.27






%








Schwab equity and bond funds, exchange-traded funds (ETFs), and collective trust funds (CTFs)







 






818,316






 






 






 






146






 






 






0.07






%






 






 






 






658,588






 






 






 






122






 






 






0.08






%








Mutual Fund OneSource ® and other no-transaction-fee funds (NTFs)







 






468,101






 






 






 






262






 






 






0.23






%






 






 






 






359,696






 






 






 






222






 






 






0.25






%








Other third-party mutual funds, ETFs, and alternatives (1)







 






665,887






 






 






 






115






 






 






0.07






%






 






 






 






642,852






 






 






 






116






 






 






0.07






%








Total mutual funds, ETFs, CTFs, and alternatives (1,2)







$






2,648,862






 






 






$






991






 






 






0.15






%






 






 






$






2,282,610






 






 






$






878






 






 






0.16






%








Managed investing solutions (2)







 






 






 






 






 






 






 






 






 






 






 






 








Fee-based







$






727,883






 






 






$






674






 






 






0.38






%






 






 






$






590,483






 






 






$






569






 






 






0.39






%








Non-fee-based







 






145,628






 






 






 






—






 






 






—






 






 






 






 






120,442






 






 






 






—






 






 






—






 








Total managed investing solutions







$






873,511






 






 






$






674






 






 






0.31






%






 






 






$






710,925






 






 






$






569






 






 






0.32






%








Other balance-based fees (1,3)







 






963,502






 






 






 






69






 






 






0.03






%






 






 






 






822,350






 






 






 






64






 






 






0.03






%








Other (4)







 






 






 






25






 






 






 






 






 






 






 






 






19






 






 






 








Total asset management and administration fees







 






$






1,759






 






 






 






 






 






 






 






$






1,530






 






 






 









(1)







Beginning in the first quarter of 2026, alternative investments and related revenue were moved from other balance-based fees to other third-party mutual funds, ETFs, and alternatives. Prior period amounts and average fees have been reclassified and recalculated to reflect this change.








(2)







Managed investing solutions includes managed portfolios, specialized strategies, and customized investment advice such as Schwab Wealth Advisory™, Schwab Managed Portfolios™, Managed Account Select®, Schwab Advisor Network®, Windhaven Strategies®, ThomasPartners® Strategies, Wasmer Schroeder Strategies™, Schwab Index Advantage advised retirement plan balances, Schwab Intelligent Portfolios®, Institutional Intelligent Portfolios®, Schwab Intelligent Portfolios Premium®, Schwab Wealth Portfolios™, AdvisorDirect®, Essential Portfolios, Selective Portfolios, and Personalized Portfolios; as well as legacy non-fee managed investing solutions including Schwab Advisor Source and certain retirement plan balances. Average client assets for managed investing solutions may also include the asset balances contained in the mutual fund and/or ETF categories listed above. For the total end of period view, please see the Monthly Activity Report.








(3)







Includes various asset-related fees, such as trust fees, 401(k) recordkeeping fees, and mutual fund clearing fees and other service fees.








(4)







Includes miscellaneous service and transaction fees relating to mutual funds and ETFs that are not balance-based.









 




THE CHARLES SCHWAB CORPORATION








Growth in Client Assets and Accounts








(Unaudited)








 







 







 







 








 







Q1-26 % Change






 






2026






 






2025








(In billions, at quarter end, except as noted)







vs.






 






vs.






 






First






 






Fourth






 






Third






 






Second






 






First









Q1-25






 






Q4-25






 






Quarter






 






Quarter






 






Quarter






 






Quarter






 






Quarter








Assets in client accounts







 







 







 







 







 







 







 








Schwab One®, certain cash equivalents, and bank deposits







13






%







3






%







$






390.5






 







$






379.5






 







$






357.1






 







$






342.7






 







$






345.2






 








Bank deposit account balances







(12






)%







(4






)%







 






73.5






 







 






76.2






 







 






78.5






 







 






82.1






 







 






83.7






 








Proprietary mutual funds (Schwab Funds® and Laudus Funds®) and CTFs







 







 







 







 







 







 







 








Money market funds







9






%







1






%







 






700.8






 







 






693.8






 







 






666.4






 







 






653.5






 







 






641.5






 








Equity and bond funds and CTFs (1)







20






%







(2






)%







 






271.8






 







 






277.4






 







 






269.7






 







 






249.7






 







 






227.0






 








Total proprietary mutual funds and CTFs







12






%







—






 







 






972.6






 







 






971.2






 







 






936.1






 







 






903.2






 







 






868.5






 








Mutual Fund Marketplace® (2)







 







 







 







 







 







 







 








Mutual Fund OneSource® and other NTF funds







30






%







(2






)%







 






443.3






 







 






454.2






 







 






473.5






 







 






453.9






 







 






340.3






 








Mutual fund clearing services







11






%







(5






)%







 






311.1






 







 






327.7






 







 






320.2






 







 






298.3






 







 






280.6






 








Other third-party mutual funds







6






%







(1






)%







 






1,263.7






 







 






1,274.3






 







 






1,237.2






 







 






1,168.5






 







 






1,195.4






 








Total Mutual Fund Marketplace







11






%







(2






)%







 






2,018.1






 







 






2,056.2






 







 






2,030.9






 







 






1,920.7






 







 






1,816.3






 








Total mutual fund assets







11






%







(1






)%







 






2,990.7






 







 






3,027.4






 







 






2,967.0






 







 






2,823.9






 







 






2,684.8






 








Exchange-traded funds







 







 







 







 







 







 







 








Proprietary ETFs (1)







29






%







3






%







 






512.6






 







 






495.3






 







 






476.0






 







 






439.7






 







 






398.2






 








Other third-party ETFs







32






%







2






%







 






2,579.8






 







 






2,527.5






 







 






2,395.7






 







 






2,175.6






 







 






1,960.1






 








Total ETF assets







31






%







2






%







 






3,092.4






 







 






3,022.8






 







 






2,871.7






 







 






2,615.3






 







 






2,358.3






 








Equity and other securities







21






%







(3






)%







 






4,566.9






 







 






4,722.6






 







 






4,624.7






 







 






4,188.7






 







 






3,765.5






 








Fixed income securities







1






%







(1






)%







 






780.6






 







 






786.8






 







 






792.1






 







 






788.0






 







 






775.8






 








Margin loans outstanding







52






%







13






%







 






(126.7






)







 






(112.3






)







 






(97.2






)







 






(83.4






)







 






(83.6






)








Total client assets







19






%







(1






)%







$






11,767.9






 







$






11,903.0






 







$






11,593.9






 







$






10,757.3






 







$






9,929.7






 








Client assets by business







 







 







 







 







 







 







 








Investor Services (3)







18






%







(2






)%







$






6,566.4






 







$






6,707.5






 







$






6,577.2






 







$






6,069.9






 







$






5,557.4






 








Advisor Services







19






%







—






 







 






5,201.5






 







 






5,195.5






 







 






5,016.7






 







 






4,687.4






 







 






4,372.3






 








Total client assets







19






%







(1






)%







$






11,767.9






 







$






11,903.0






 







$






11,593.9






 







$






10,757.3






 







$






9,929.7






 








Net growth in assets in client accounts (for the quarter ended)







 







 







 







 







 







 







 








Net new assets by business







 







 







 







 







 







 







 








Investor Services (3)







(22






)%







(10






)%







$






54.1






 







$






60.4






 







$






52.7






 







$






31.2






 







$






69.5






 








Advisor Services







36






%







(12






)%







 






85.8






 







 






97.8






 







 






81.7






 







 






42.4






 







 






62.9






 








Total net new assets







6






%







(12






)%







$






139.9






 







$






158.2






 







$






134.4






 







$






73.6






 







$






132.4






 








Net market gains (losses)







 







 







 






(275.0






)







 






150.9






 







 






702.2






 







 






754.0






 







 






(304.0






)








Net growth (decline)







 







 







$






(135.1






)







$






309.1






 







$






836.6






 







$






827.6






 







$






(171.6






)








New brokerage accounts (in thousands, for the quarter ended)







10






%







2






%







 






1,299






 







 






1,268






 







 






1,143






 







 






1,098






 







 






1,183






 








Client accounts (in thousands)







 







 







 







 







 







 







 








Active brokerage accounts







6






%







2






%







 






39,099






 







 






38,506






 







 






37,963






 







 






37,476






 







 






37,011






 








Banking accounts







11






%







3






%







 






2,281






 







 






2,214






 







 






2,150






 







 






2,096






 







 






2,050






 








Workplace Plan Participant Accounts (4)







6






%







2






%







 






5,844






 







 






5,740






 







 






5,619






 







 






5,586






 







 






5,495






 








 







 







 







 







 







 







 







 









(1)







Includes balances held on and off the Schwab platform. As of March 31, 2026, off-platform equity and bond funds, CTFs, and ETFs were $46.5 billion, $4.5 billion, and $187.2 billion, respectively.








(2)







Excludes all proprietary mutual funds and ETFs.








(3)







First quarter of 2026 includes net outflows of $0.1 billion from off-platform Schwab Bank Retail CDs. Fourth quarter of 2025 includes net outflows of $5.7 billion from off-platform Schwab Bank Retail CDs. Third quarter of 2025 includes net outflows of $3.1 billion from off-platform Schwab Bank Retail CDs. Second quarter of 2025 includes net outflows of $6.7 billion from off-platform Schwab Bank Retail CDs. First quarter of 2025 includes net outflows of $5.3 billion from off-platform Schwab Bank Retail CDs.








(4)







Includes Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services. Participants may be enrolled in services in more than one Workplace business.









 




The Charles Schwab Corporation Monthly Activity Report For March 2026








 







 







 







 







 







 







 







 







 







 







 







 







 







 







 








 







2025







 







 







 







 







 







 







 







 







 







2026







 







 







Change








 







Mar







Apr







May







Jun







Jul







Aug







Sep







Oct







Nov







Dec







Jan







Feb







Mar







Mo.







Yr.








Number of Trading Days







21.0






 







21.0






 







21.0






 







20.0






 







21.5






 







21.0






 







21.0






 







23.0






 







18.5






 







21.5






 







20.0






 







19.0






 







22.0






 







 







 








Market Indices (at month end)







 







 







 







 







 







 







 







 







 







 







 







 







 







 







 








Dow Jones Industrial Average®







42,002






 







40,669






 







42,270






 







44,095






 







44,131






 







45,545






 







46,398






 







47,563






 







47,716






 







48,063






 







48,892






 







48,978






 







46,342






 







(5






)%







10






%








Nasdaq Composite®







17,299






 







17,446






 







19,114






 







20,370






 







21,122






 







21,456






 







22,660






 







23,725






 







23,366






 







23,242






 







23,462






 







22,668






 







21,591






 







(5






)%







25






%








Standard & Poor’s® 500







5,612






 







5,569






 







5,912






 







6,205






 







6,339






 







6,460






 







6,688






 







6,840






 







6,849






 







6,846






 







6,939






 







6,879






 







6,529






 







(5






)%







16






%








Client Assets (in billions of dollars)







 







 







 







 







 







 







 







 







 







 







 







 







 







 







 








Beginning Client Assets







10,280.2






 







9,929.7






 







9,892.2






 







10,349.0






 







10,757.3






 







10,963.5






 







11,228.1






 







11,593.9






 







11,828.0






 







11,834.3






 







11,903.0






 







12,148.5






 







12,220.3






 







 







 








Net New Assets (1)







55.3






 







1.1






 







33.6






 







38.9






 







45.7






 







43.3






 







45.4






 







41.6






 







38.7






 







77.9






 







27.6






 







32.5






 







79.8






 







146






%







44






%








Net Market Gains (Losses)







(405.8






)







(38.6






)







423.2






 







369.4






 







160.5






 







221.3






 







320.4






 







192.5






 







(32.4






)







(9.2






)







217.9






 







39.3






 







(532.2






)







 







 








Total Client Assets (at month end)







9,929.7






 







9,892.2






 







10,349.0






 







10,757.3






 







10,963.5






 







11,228.1






 







11,593.9






 







11,828.0






 







11,834.3






 







11,903.0






 







12,148.5






 







12,220.3






 







11,767.9






 







(4






)%







19






%








Core Net New Assets (1,2)







59.1






 







2.7






 







35.0






 







42.6






 







46.9






 







44.4






 







46.2






 







44.4






 







40.4






 







79.1






 







27.8






 







32.5






 







79.7






 







145






%







35






%








Receiving Ongoing Advisory Services (at month end)









 







 







 







 







 







 







 







 







 







 







 







 







 







 








Investor Services







688.8






 







688.2






 







711.2






 







737.6






 







747.9






 







771.1






 







792.5






 







807.6






 







817.9






 







824.8






 







849.5






 







866.8






 







841.3






 







(3






)%







22






%








Advisor Services







4,372.3






 







4,353.0






 







4,525.6






 







4,687.4






 







4,765.1






 







4,888.2






 







5,016.7






 







5,106.1






 







5,155.9






 







5,195.5






 







5,311.7






 







5,394.3






 







5,201.5






 







(4






)%







19






%








Client Accounts (at month end, in thousands)







 







 







 







 







 







 







 







 







 







 







 







 







 







 







 








Active Brokerage Accounts







37,011






 







37,254






 







37,375






 







37,476






 







37,658






 







37,798






 







37,963






 







38,145






 







38,266






 







38,506






 







38,730






 







38,925






 







39,099






 







—






 







6






%








Banking Accounts







2,050






 







2,066






 







2,077






 







2,096






 







2,116






 







2,137






 







2,150






 







2,172






 







2,189






 







2,214






 







2,239






 







2,258






 







2,281






 







1






%







11






%








Workplace Plan Participant Accounts (3)







5,495






 







5,518






 







5,563






 







5,586






 







5,619






 







5,606






 







5,619






 







5,696






 







5,730






 







5,740






 







5,793






 







5,829






 







5,844






 







—






 







6






%








Client Activity







 







 







 







 







 







 







 







 







 







 







 







 







 







 







 








New Brokerage Accounts (in thousands)







388






 







439






 







336






 







323






 







377






 







382






 







384






 







429






 







365






 







474






 







476






 







395






 







428






 







8






%







10






%








Client Daily Average Trades (DATs) (in thousands)







7,365






 







8,362






 







7,184






 







7,147






 







7,252






 







7,182






 







7,832






 







8,617






 







8,459






 







7,746






 







9,512






 







9,922






 







10,232






 







3






%







39






%








Derivative Trades as a Percentage of Total Trades







19.5






%







18.4






%







21.0






%







20.8






%







21.3






%







22.5






%







22.3






%







23.8






%







21.7






%







21.4






%







20.1






%







20.1






%







20.4






%







30 bp







90 bp








Margin Balances at month end (in billions of dollars)







83.6






 







76.2






 







81.3






 







83.4






 







88.3






 







92.4






 







97.2






 







105.6






 







110.1






 







112.3






 







116.3






 







120.6






 







126.7






 







5






%







52






%








Schwab Trading Activity Index™ (STAX) (4)







48.4






 







41.2






 







39.7






 







40.7






 







41.8






 







43.7






 







46.1






 







48.1






 







48.8






 







48.5






 







50.0






 







57.3






 







56.0






 







(2






)%







16






%








Selected Balances (in billions of dollars)







 







 







 







 







 







 







 







 







 







 







 







 







 







 







 








Average Interest-Earning Assets (5)







424.9






 







430.4






 







418.7






 







416.5






 







416.7






 







414.4






 







419.8






 







428.3






 







429.1






 







436.0






 







441.7






 







434.2






 







436.8






 







1






%







3






%








Transactional Sweep Cash (6) (at month end)







407.8






 







403.3






 







398.1






 







412.1






 







407.5






 







406.7






 







425.6






 







428.8






 







427.5






 







453.7






 







433.3






 







436.1






 







461.5






 







6






%







13






%








Total Money Market Funds (at month end)







641.9






 







637.8






 







645.8






 







653.9






 







658.6






 







665.2






 







667.0






 







675.5






 







685.9






 







694.5






 







693.4






 







696.2






 







702.2






 







1






%







9






%








Client Cash as a Percentage of Client Assets (7)







10.6






%







10.5






%







10.1






%







9.9






%







9.7






%







9.5






%







9.4






%







9.3






%







9.4






%







9.7






%







9.3






%







9.3






%







9.9






%







60 bp







(70) bp








Net Buy (Sell) Activity (in billions of dollars) (8)







 







 







 







 







 







 







 







 







 







 







 







 







 







 







 








Mutual Funds







(8.5






)







(14.0






)







(3.2






)







(5.4






)







(3.4






)







(2.2






)







(4.8






)







(6.3






)







(7.3






)







(3.6






)







(0.9






)







(2.4






)







(8.5






)







 







 








Exchange-Traded Funds (ETFs)







18.2






 







18.8






 







21.9






 







19.4






 







25.8






 







23.0






 







25.6






 







28.1






 







24.9






 







39.8






 







34.8






 







37.4






 







25.3






 







 







 









(1)







Unless otherwise noted, differences between net new assets and core net new assets are net flows from off-platform Schwab Bank Retail CDs.








(2)







Net new assets before significant one-time inflows or outflows, such as acquisitions/divestitures or extraordinary flows (generally greater than $25 billion) relating to a specific client, and activity from off-platform Schwab Bank Retail CDs. These flows may span multiple reporting periods.








(3)







Includes Retirement Plan Services, Stock Plan Services, Designated Brokerage Services, and Retirement Business Services. Participants may be enrolled in services in more than one Workplace business.








(4)







For additional information regarding STAX, please visit: https://www.schwab.com/investment-research/stax/view-schwab-trading-activity-index.








(5)







Represents average total interest-earning assets on the Company’s balance sheet. Beginning in December 2025, average balances of client margin loans and short credits related to certain client long/short strategies from which the Company earns a fixed net yield are excluded from average interest-earning assets. Prior period amounts have been adjusted accordingly.








(6)







Transactional sweep cash includes bank sweep deposits, broker-dealer cash balances, other client cash held on the balance sheet (such as bank checking and savings deposits, short credits related to certain client long/short strategies, and broker-dealer non-interest-bearing credits), and bank deposit account balances; excludes proprietary and third-party CDs.








(7)







Schwab One®, certain cash equivalents, bank deposits, third-party bank deposit accounts, and money market fund balances as a percentage of total client assets; client cash excludes brokered CDs issued by Charles Schwab Bank.








(8)







Represents the principal value of client mutual fund and ETF transactions handled by Schwab, including transactions in proprietary funds. Includes institutional funds available only to investment managers. Excludes money market fund transactions.









 


THE CHARLES SCHWAB CORPORATION

Non-GAAP Financial Measures

(In millions, except ratios and per share amounts)

(Unaudited)


In addition to disclosing financial results in accordance with generally accepted accounting principles in the U.S. (GAAP), Schwab’s first quarter earnings release contains references to the non-GAAP financial measures described below. We believe these non-GAAP financial measures provide useful supplemental information about the financial performance of the Company, and facilitate meaningful comparison of Schwab’s results in the current period to both historic and future results. These non-GAAP measures should not be considered a substitute for, or superior to, financial measures calculated in accordance with GAAP, and may not be comparable to non-GAAP financial measures presented by other companies.


Schwab’s use of non-GAAP measures is reflective of certain adjustments made to GAAP financial measures as described below.




Non-GAAP Adjustment or Measure






Definition






Usefulness to Investors and Uses by Management








Acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs






Schwab adjusts certain GAAP financial measures to exclude the impact of acquisition and integration-related costs incurred as a result of the Company’s acquisitions, amortization of acquired intangible assets, restructuring costs, and, where applicable, the income tax effect of these expenses.




 




Adjustments made to exclude amortization of acquired intangible assets are reflective of all acquired intangible assets, which were recorded as part of purchase accounting. These acquired intangible assets contribute to the Company’s revenue generation. Amortization of acquired intangible assets will continue in future periods over their remaining useful lives.






We exclude acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs for the purpose of calculating certain non-GAAP measures because we believe doing so provides additional transparency of Schwab’s ongoing operations, and is useful in both evaluating the operating performance of the business and facilitating comparison of results with prior and future periods.




 




Costs related to acquisition and integration or restructuring fluctuate based on the timing of acquisitions, integration and restructuring activities, thereby limiting comparability of results among periods, and are not representative of the costs of running the Company’s ongoing business. Amortization of acquired intangible assets is excluded because management does not believe it is indicative of the Company’s underlying operating performance.








Return on tangible common equity






Return on tangible common equity represents annualized adjusted net income available to common stockholders as a percentage of average tangible common equity. Tangible common equity represents common equity less goodwill, acquired intangible assets — net, and related deferred tax liabilities.






Acquisitions typically result in the recognition of significant amounts of goodwill and acquired intangible assets. We believe return on tangible common equity may be useful to investors as a supplemental measure to facilitate assessing capital efficiency and returns relative to the composition of Schwab’s balance sheet.








Adjusted Tier 1 Leverage Ratio






Adjusted Tier 1 Leverage Ratio represents the Tier 1 Leverage Ratio as prescribed by bank regulatory guidance for the consolidated company and for Charles Schwab Bank, SSB (CSB), adjusted to reflect the inclusion of accumulated other comprehensive income (AOCI) in the ratio.






Inclusion of the impacts of AOCI in the Company’s Tier 1 Leverage Ratio provides additional information regarding the Company’s current capital position. We believe Adjusted Tier 1 Leverage Ratio may be useful to investors as a supplemental measure of the Company’s capital levels.







The Company also uses adjusted diluted EPS and return on tangible common equity as components of performance criteria for employee bonus and certain executive management incentive compensation arrangements. The Compensation Committee of CSC’s Board of Directors maintains discretion in evaluating performance against these criteria. Additionally, the Company uses adjusted Tier 1 Leverage Ratio in managing capital, including its use of the measure as its long-term operating objective.




THE CHARLES SCHWAB CORPORATION








Non-GAAP Financial Measures








(In millions, except ratios and per share amounts)








(Unaudited)









 



The tables below present reconciliations of GAAP measures to non-GAAP measures:








 







Three Months Ended




March 31,








 







2026






 






2025








 







Total

Expenses

Excluding

Interest






 






Net




Income






 






Total

Expenses

Excluding

Interest






 






Net




Income








Total expenses excluding interest (GAAP), Net income (GAAP)







$






3,294






 







$






2,479






 







$






3,144






 







$






1,909






 








Amortization of acquired intangible assets







 






(132






)







 






132






 







 






(130






)







 






130






 








Acquisition and integration-related costs (1)







 






(11






)







 






11






 







 






—






 







 






—






 








Income tax effects (2)







 






N/A






 







 






(34






)







 






N/A






 







 






(31






)








Adjusted total expenses (non-GAAP), Adjusted net income (non-GAAP)







$






3,151






 







$






2,588






 







$






3,014






 







$






2,008






 









(1)







Acquisition and integration-related costs for the three months ended March 31, 2026 primarily consist of professional services. There were no acquisition and integration-related costs for the three months ended March 31, 2025.








(2)







The income tax effects of the non-GAAP adjustments are determined using an effective tax rate reflecting the exclusion of non-deductible acquisition costs and are used to present the acquisition and integration-related costs, amortization of acquired intangible assets, and restructuring costs on an after-tax basis.








N/A Not applicable.









 







Three Months Ended




March 31,








 







2026






 






2025








 







Amount






 






% of




Total Net Revenues






 






Amount






 






% of




Total Net Revenues








Income before taxes on income (GAAP), Pre-tax profit margin (GAAP)







$






3,188








49.2






%







$






2,455








43.8






%








Amortization of acquired intangible assets







 






132






 







2.0






%







 






130






 







2.4






%








Acquisition and integration-related costs







 






11






 







0.2






%







 






—






 







—






 








Adjusted income before taxes on income (non-GAAP), Adjusted pre-tax profit margin (non-GAAP)







$






3,331






 







51.4






%







$






2,585






 







46.2






%





















 




 







Three Months Ended

March 31,








 







2026






 






2025








 







Amount






 






Diluted




EPS






 






Amount






 






Diluted




EPS








Net income available to common stockholders (GAAP), Earnings per common share — diluted (GAAP)







$






2,397






 







$






1.37






 







$






1,796






 







$






.99






 








Amortization of acquired intangible assets







 






132






 







 






.07






 







 






130






 







 






.07






 








Acquisition and integration-related costs







 






11






 







 






.01






 







 






—






 







 






—






 








Income tax effects







 






(34






)







 






(.02






)







 






(31






)







 






(.02






)








Adjusted net income available to common stockholders (non-GAAP), Adjusted diluted EPS (non-GAAP)







$






2,506






 







$






1.43






 







$






1,895






 







$






1.04






 









THE CHARLES SCHWAB CORPORATION








Non-GAAP Financial Measures








(In millions, except ratios and per share amounts)








(Unaudited)








 






 






 








 






 






Three Months Ended

March 31,








 






 






2026






 






2025








Return on average common stockholders’ equity (GAAP)







 






23






%







 






18






%








Average common stockholders’ equity







$






42,567






 







$






39,752






 








Less: Average goodwill







 






(12,125






)







 






(11,951






)








Less: Average acquired intangible assets — net







 






(7,323






)







 






(7,679






)








Plus: Average deferred tax liabilities related to goodwill and acquired intangible assets — net







 






1,693






 







 






1,709






 








Average tangible common equity







$






24,812






 







$






21,831






 








Adjusted net income available to common stockholders (1)







$






2,506






 







$






1,895






 








Return on tangible common equity (non-GAAP)







 






40






%







 






35






%









(1)







See table above for the reconciliation of net income available to common stockholders to adjusted net income available to common stockholders (non-GAAP).









 




 







(Preliminary)








 







March 31, 2026








 







CSC







CSB








Tier 1 Leverage Ratio (GAAP)







 






8.9






%







 






10.9






%








Tier 1 Capital







$






41,894






 







$






27,474






 








Plus: AOCI adjustment







 






(10,631






)







 






(9,240






)








Adjusted Tier 1 Capital







 






31,263






 







 






18,234






 








Average assets with regulatory adjustments







 






471,426






 







 






252,021






 








Plus: AOCI adjustment







 






(10,703






)







 






(9,341






)








Adjusted average assets with regulatory adjustments







$






460,723






 







$






242,680






 








Adjusted Tier 1 Leverage Ratio (non-GAAP)







 






6.8






%







 






7.5






%







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260416458593/en/
MEDIA

Mayura Hooper, 415-667-1525

public.relations@schwab.com
INVESTORS/ANALYSTS

Jeff Edwards, 817-854-6177

investor.relations@schwab.com


Original: Client Growth & Engagement Drive Record Schwab 1Q Results