Schwab Hedged Equity Fund
Summary
Objective
The fund seeks long-term capital appreciation over market cycles with lower volatility than the broad equity market.
Highlights
- An actively managed fund that seeks to provide long-term capital appreciation over market cycles with lower volatility than the broad equity market
- Offers a risk-managed approach to investing in the U.S. stock market
- Invests by taking long and short positions in U.S. equity securities through a disciplined investment process that uses Schwab Equity Ratings® as one of several inputs
- An experienced investment team evaluates securities based on three components: fundamentals, valuation, and momentum
Fund Details
Fund Profile
| Fund Inception | 09/03/2002 | |
|---|---|---|
| Total Net Assets As of 01/20/2021 |
01/20/2021 | $67,213,606.89 |
| Index Name | S&P 500® Index | |
| Shares Outstanding As of 01/20/2021 |
01/20/2021 | 4,422,097 |
| NAV As of 01/20/2021 |
01/20/2021 | $15.20 |
| Total Holdings As of 12/31/2020 |
12/31/2020 | 310 |
| Portfolio Turnover Rate As of 12/31/2020 |
12/31/2020 | 72.71% |
| Morningstar Category | Long-Short Equity | |
| Management Style | Active |
Yields
| SEC Yield (30 Day) As of 01/19/2021 |
01/19/2021 | 0.00% |
|---|---|---|
| Distribution Yield (TTM) As of 12/31/2020 |
12/31/2020 | 0.06% |
Fees & Minimum
| Gross Expense Ratio † | 1.940% | |
|---|---|---|
| Net Expense Ratio † | 1.920% |
Fund Characteristics
| Weighted Average Market Capitalization As of 09/30/2020 |
09/30/2020 | $327.08B |
|---|---|---|
| Price to Earnings Ratio As of 09/30/2020 |
09/30/2020 | 18.53 |
| Price to Book Ratio As of 09/30/2020 |
09/30/2020 | 2.77 |
| Price to Cash Flow As of 09/30/2020 |
09/30/2020 | 9.18 |
| Return on Equity As of 09/30/2020 |
09/30/2020 | 20.87% |
| Alpha (3 Yr) As of 11/30/2020 |
11/30/2020 | -10.20 |
| Beta vs. Benchmark (3 Yr) As of 11/30/2020 |
11/30/2020 | 0.60 |
| R Squared (3 Yr) As of 11/30/2020 |
11/30/2020 | 87.04 |
| Sharpe Ratio (3 Yr) As of 11/30/2020 |
11/30/2020 | -0.37 |
| Standard Deviation (3 Yr) As of 11/30/2020 |
11/30/2020 | 12.12% |
Performance
Total Return
Monthly
-
SWHEX
Cumulative Returns (%)
- 1 Month
- +3.05
- 3 Month
- +3.05
- YTD
- -7.38
Annualized Returns (%)
- 1 Year
- -7.38
- 3 Year
- -2.14
- 5 Year
- +2.79
- 10 Year
- +4.76
- Inception
- +5.44
-
S&P 500® Index (Index)
Cumulative Returns (%)
- 1 Month
- +3.84
- 3 Month
- +12.15
- YTD
- +18.40
Annualized Returns (%)
- 1 Year
- +18.40
- 3 Year
- +14.18
- 5 Year
- +15.22
- 10 Year
- +13.88
-
Long-Short Equity (Morningstar Category)
Cumulative Returns (%)
- 1 Month
- +3.16
- 3 Month
- +7.83
- YTD
- +7.89
Annualized Returns (%)
- 1 Year
- +7.89
- 3 Year
- +4.00
- 5 Year
- +5.07
- 10 Year
- +4.96
| Description | Cumulative Returns (%) | Annualized Returns (%) | |||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 Month | 3 Month | YTD | 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SWHEX | +3.05 | +3.05 | -7.38 | -7.38 | -2.14 | +2.79 | +4.76 | +5.44 | |
| S&P 500® Index (Index) | +3.84 | +12.15 | +18.40 | +18.40 | +14.18 | +15.22 | +13.88 | ||
| Long-Short Equity (Morningstar Category) | +3.16 | +7.83 | +7.89 | +7.89 | +4.00 | +5.07 | +4.96 | ||
Annualized returns for periods 1 yr+/cumulative returns for periods less than 1 yr.
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
Quarterly
-
SWHEX
Average Annual Returns (%)
- 1 Year
- -7.38
- 3 Year
- -2.14
- 5 Year
- +2.79
- 10 Year
- +4.76
- Inception
- +5.44
-
S&P 500® Index (Index)
Average Annual Returns (%)
- 1 Year
- +18.40
- 3 Year
- +14.18
- 5 Year
- +15.22
- 10 Year
- +13.88
-
Long-Short Equity (Morningstar Category)
Average Annual Returns (%)
- 1 Year
- +7.89
- 3 Year
- +4.00
- 5 Year
- +5.07
- 10 Year
- +4.96
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SWHEX | -7.38 | -2.14 | +2.79 | +4.76 | +5.44 | |
| S&P 500® Index (Index) | +18.40 | +14.18 | +15.22 | +13.88 | ||
| Long-Short Equity (Morningstar Category) | +7.89 | +4.00 | +5.07 | +4.96 | ||
Annualized returns for periods 1 yr+/cumulative returns for periods less than 1 yr.
The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the performance quoted.
After Tax Returns
Pre-Liquidation
SWHEX NAV Return
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- -7.40
- 3 Year
- -2.74
- 5 Year
- +1.95
- 10 Year
- +3.55
- Inception
- +4.70
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- -4.37
- 3 Year
- -1.62
- 5 Year
- +2.13
- 10 Year
- +3.68
- Inception
- +4.46
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.02
- 3 Year
- +0.67
- 5 Year
- +0.90
- 10 Year
- +1.22
- Inception
- +0.76
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | -7.40 | -2.74 | +1.95 | +3.55 | +4.70 | |
| SEC Post-Liquidation | -4.37 | -1.62 | +2.13 | +3.68 | +4.46 | |
| Tax Cost Ratio | +0.02 | +0.67 | +0.90 | +1.22 | +0.76 | |
After tax returns are based on highest Federal income tax bracket. State taxes are not included. Pre-liquidation figures include taxes on fund's distributions of dividends and capital gains. Tax Cost Ratio represents the percentage-point reduction in returns that results from Federal income taxes (before shares in the fund are sold, and assuming the highest Federal tax bracket).
Long-Short Equity NAV Returns (Morningstar Category)
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +6.12
- 3 Year
- +2.73
- 5 Year
- +3.83
- 10 Year
- +3.99
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +4.48
- 3 Year
- +2.69
- 5 Year
- +3.50
- 10 Year
- +3.67
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.90
- 3 Year
- +1.01
- 5 Year
- +1.03
- 10 Year
- +0.85
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +6.12 | +2.73 | +3.83 | +3.99 | ||
| SEC Post-Liquidation | +4.48 | +2.69 | +3.50 | +3.67 | ||
| Tax Cost Ratio | +0.90 | +1.01 | +1.03 | +0.85 | ||
Post-Liquidation
SWHEX NAV Return
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- -7.40
- 3 Year
- -2.74
- 5 Year
- +1.95
- 10 Year
- +3.55
- Inception
- +4.70
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- -4.37
- 3 Year
- -1.62
- 5 Year
- +2.13
- 10 Year
- +3.68
- Inception
- +4.46
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.02
- 3 Year
- +0.67
- 5 Year
- +0.90
- 10 Year
- +1.22
- Inception
- +0.76
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | -7.40 | -2.74 | +1.95 | +3.55 | +4.70 | |
| SEC Post-Liquidation | -4.37 | -1.62 | +2.13 | +3.68 | +4.46 | |
| Tax Cost Ratio | +0.02 | +0.67 | +0.90 | +1.22 | +0.76 | |
After tax returns are based on highest Federal income tax bracket. State taxes are not included. Pre-liquidation figures include taxes on fund's distributions of dividends and capital gains. Tax Cost Ratio represents the percentage-point reduction in returns that results from Federal income taxes (before shares in the fund are sold, and assuming the highest Federal tax bracket).
Long-Short Equity NAV Returns (Morningstar Category)
-
SEC Pre-Liquidation
Average Annual Returns (%)
- 1 Year
- +6.12
- 3 Year
- +2.73
- 5 Year
- +3.83
- 10 Year
- +3.99
-
SEC Post-Liquidation
Average Annual Returns (%)
- 1 Year
- +4.48
- 3 Year
- +2.69
- 5 Year
- +3.50
- 10 Year
- +3.67
-
Tax Cost Ratio
Average Annual Returns (%)
- 1 Year
- +0.90
- 3 Year
- +1.01
- 5 Year
- +1.03
- 10 Year
- +0.85
| Description | Average Annual Returns (%) | |||||
|---|---|---|---|---|---|---|
| 1 Year | 3 Year | 5 Year | 10 Year | Inception | ||
| SEC Pre-Liquidation | +6.12 | +2.73 | +3.83 | +3.99 | ||
| SEC Post-Liquidation | +4.48 | +2.69 | +3.50 | +3.67 | ||
| Tax Cost Ratio | +0.90 | +1.01 | +1.03 | +0.85 | ||
Rank within Category
Morningstar Category - Long-Short Equity
-
TOP 25%
- 2021 YTD
Yearly Performance
- 2020
- 2019
- 2018
- 2017
- +7.77
- 2016
- 2015
- -0.39
- 2014
- 2013
- 2012
- +7.60
-
- 2021 YTD
Yearly Performance
- 2020
- 2019
- 2018
- 2017
- 2016
- +13.61
- 2015
- 2014
- +10.46
- 2013
- +14.98
- 2012
-
- 2021 YTD
Yearly Performance
- 2020
- -7.38
- 2019
- +8.91
- 2018
- -7.09
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
-
BOTTOM 25%
- 2021 YTD
- -7.38
Yearly Performance
- 2020
- 2019
- 2018
- 2017
- 2016
- 2015
- 2014
- 2013
- 2012
| Rank | 2021 YTD | Yearly Performance | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |||
| TOP 25% | +7.77 | -0.39 | +7.60 | ||||||||
| +13.61 | +10.46 | +14.98 | |||||||||
| -7.38 | +8.91 | -7.09 | |||||||||
| BOTTOM 25% | -7.38 | ||||||||||
Rank within Category compares this fund's total annual return to that of other funds in the same category and its figures are not adjusted for any fees and expenses, loads, sales charges, or taxes. See the Monthly Returns table for load-adjusted performance.
© 2020 Morningstar. All rights reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Cumulative Growth of a $10,000 Investment
| SWHEX (Fund) | $15,549 | |
|---|---|---|
| S&P 500® Index (Index) | $35,850 | |
| Long-Short Equity (Morningstar Category) | $14,320 | |
| Worst Three Months Return (12/31/2019 - 3/31/2020) | -16.30 | |
| Best Three Months Return (9/30/2011 - 12/31/2011) | +10.38 |
This graph represents the growth of a hypothetical investment of $10,000. It assumes reinvestment of dividends and capital gains, and does not reflect sales loads, redemption fees or the effects of taxes on any capital gains and/or distributions. If the inception date of the Index is less than the time period shown above, the Since Inception period is shown. Best and Worst Return cover the timeframe of the chart.
Price Performance
Portfolio
Top Holdings
-
--
- Name
- US DOLLAR
- Percent of Assets (%)
- 39.40%
- Market Value
- $26.5M
-
AAPL
- Name
- APPLE INC COMMON STOCK USD.00001
- Percent of Assets (%)
- 5.53%
- Market Value
- $3.7M
-
AMZN
- Name
- AMAZON.COM INC COMMON STOCK USD.01
- Percent of Assets (%)
- 4.21%
- Market Value
- $2.8M
-
MSFT
- Name
- MICROSOFT CORP COMMON STOCK USD.00000625
- Percent of Assets (%)
- 4.18%
- Market Value
- $2.8M
-
ALL
- Name
- ALLSTATE CORP COMMON STOCK USD.01
- Percent of Assets (%)
- 2.00%
- Market Value
- $1.3M
-
GOOGL
- Name
- ALPHABET INC CL A COMMON STOCK USD.001
- Percent of Assets (%)
- 1.86%
- Market Value
- $1.3M
-
FB
- Name
- FACEBOOK INC CLASS A COMMON STOCK USD.000006
- Percent of Assets (%)
- 1.57%
- Market Value
- $1.1M
-
JBL
- Name
- JABIL INC COMMON STOCK USD.001
- Percent of Assets (%)
- 1.56%
- Market Value
- $1.0M
-
NVS
- Name
- NOVARTIS AG SPONSORED ADR ADR
- Percent of Assets (%)
- 1.54%
- Market Value
- $1.0M
-
BBY
- Name
- BEST BUY CO INC COMMON STOCK USD.1
- Percent of Assets (%)
- 1.53%
- Market Value
- $1.0M
| Symbol | Name | Percent of Assets (%) | Market Value | ||
|---|---|---|---|---|---|
| -- | US DOLLAR | 39.40%
|
$26.5M | ||
| AAPL | APPLE INC COMMON STOCK USD.00001 | 5.53%
|
$3.7M | ||
| AMZN | AMAZON.COM INC COMMON STOCK USD.01 | 4.21%
|
$2.8M | ||
| MSFT | MICROSOFT CORP COMMON STOCK USD.00000625 | 4.18%
|
$2.8M | ||
| ALL | ALLSTATE CORP COMMON STOCK USD.01 | 2.00%
|
$1.3M | ||
| GOOGL | ALPHABET INC CL A COMMON STOCK USD.001 | 1.86%
|
$1.3M | ||
| FB | FACEBOOK INC CLASS A COMMON STOCK USD.000006 | 1.57%
|
$1.1M | ||
| JBL | JABIL INC COMMON STOCK USD.001 | 1.56%
|
$1.0M | ||
| NVS | NOVARTIS AG SPONSORED ADR ADR | 1.54%
|
$1.0M | ||
| BBY | BEST BUY CO INC COMMON STOCK USD.1 | 1.53%
|
$1.0M |
Sectors
| Sector | Percent of Portfolio (%) | |
|---|---|---|
| Information Technology | 27.67%
|
|
| Consumer Discretionary | 15.65%
|
|
| Health Care | 12.22%
|
|
| Industrials | 12.05%
|
|
| Financials | 8.21%
|
|
| Consumer Staples | 6.69%
|
|
| Communication Services | 6.56%
|
|
| Real Estate | 3.50%
|
|
| Materials | 3.39%
|
|
| Utilities | 2.42%
|
|
| Energy | 1.33%
|
Allocations are subject to change.
Market Cap
| Market Cap | Percent of Portfolio (%) | |
|---|---|---|
| [Cash] | 29.12%
|
|
| > $70,000 M | 25.88%
|
|
| $3,000-$15,000 M | 17.95%
|
|
| $15,000-$70,000 M | 17.80%
|
|
| $1,000-$3,000 M | 8.25%
|
|
| <$1,000 M | 1.00%
|
Asset Allocation
| Asset Class | Percent of Portfolio (%) | |
|---|---|---|
| Stocks | 60.60%
|
|
| Cash Investments | 39.40%
|
The percentage of assets as shown may not equal 100% due to unsettled trades.
Distributions
Distributions
-
Ex-Date: 12/16/2020
- Record Date
- 12/15/2020
- Payable Date
- 12/16/2020
- Income
- 0.0083
- Short Term Capital Gain
- 0.0000
- Long Term Capital Gain
- 0.0000
- Return of Capital
- --
- Total Distribution
- 0.008300000
-
Ex-Date: 12/18/2019
- Record Date
- 12/17/2019
- Payable Date
- 12/18/2019
- Income
- 0.0971
- Short Term Capital Gain
- --
- Long Term Capital Gain
- --
- Return of Capital
- --
- Total Distribution
- 0.097100000
-
Ex-Date: 12/14/2018
- Record Date
- 12/13/2018
- Payable Date
- 12/14/2018
- Income
- 0.0814
- Short Term Capital Gain
- 0.0448
- Long Term Capital Gain
- 1.0074
- Return of Capital
- --
- Total Distribution
- 1.133600000
-
Ex-Date: 12/08/2017
- Record Date
- 12/07/2017
- Payable Date
- 12/08/2017
- Income
- 0.0089
- Short Term Capital Gain
- --
- Long Term Capital Gain
- 1.0726
- Return of Capital
- --
- Total Distribution
- 1.081500000
-
Ex-Date: 12/12/2016
- Record Date
- 12/09/2016
- Payable Date
- 12/12/2016
- Income
- 0.0000
- Short Term Capital Gain
- 0.3479
- Long Term Capital Gain
- 0.1366
- Return of Capital
- --
- Total Distribution
- 0.484500000
-
Ex-Date: 12/10/2015
- Record Date
- 12/09/2015
- Payable Date
- 12/10/2015
- Income
- 0.1245
- Short Term Capital Gain
- 0.3256
- Long Term Capital Gain
- 1.2885
- Return of Capital
- --
- Total Distribution
- 1.738600000
-
Ex-Date: 12/09/2014
- Record Date
- 12/08/2014
- Payable Date
- 12/09/2014
- Income
- 0.0000
- Short Term Capital Gain
- --
- Long Term Capital Gain
- 2.4354
- Return of Capital
- --
- Total Distribution
- 2.435400000
-
Ex-Date: 12/05/2013
- Record Date
- 12/04/2013
- Payable Date
- 12/05/2013
- Income
- 0.0000
- Short Term Capital Gain
- --
- Long Term Capital Gain
- 1.5068
- Return of Capital
- --
- Total Distribution
- 1.506800000
| Ex-Date | Record Date | Payable Date | Income | Short Term Capital Gain | Long Term Capital Gain | Return of Capital | Total Distribution | ||
|---|---|---|---|---|---|---|---|---|---|
| 12/16/2020 | 12/15/2020 | 12/16/2020 | 0.0083 | 0.0000 | 0.0000 | -- | 0.008300000 | ||
| 12/18/2019 | 12/17/2019 | 12/18/2019 | 0.0971 | -- | -- | -- | 0.097100000 | ||
| 12/14/2018 | 12/13/2018 | 12/14/2018 | 0.0814 | 0.0448 | 1.0074 | -- | 1.133600000 | ||
| 12/08/2017 | 12/07/2017 | 12/08/2017 | 0.0089 | -- | 1.0726 | -- | 1.081500000 | ||
| 12/12/2016 | 12/09/2016 | 12/12/2016 | 0.0000 | 0.3479 | 0.1366 | -- | 0.484500000 | ||
| 12/10/2015 | 12/09/2015 | 12/10/2015 | 0.1245 | 0.3256 | 1.2885 | -- | 1.738600000 | ||
| 12/09/2014 | 12/08/2014 | 12/09/2014 | 0.0000 | -- | 2.4354 | -- | 2.435400000 | ||
| 12/05/2013 | 12/04/2013 | 12/05/2013 | 0.0000 | -- | 1.5068 | -- | 1.506800000 |
Documents
SWHEX Prospectus and Other Regulatory Documents
Schwab Hedged Equity Fund