The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services. It offers brokerage accounts with equity and fixed income trading, margin lending, options trading, futures and forex trading, and cash management capabilities, including certificates of deposit; third-party mutual funds through the Mutual Fund Marketplace and Mutual Fund OneSource service, as well as mutual fund trading and clearing services to broker-dealers; exchange-traded funds; advisory solutions for managed portfolios, separately managed accounts, customized personal advice for tailored portfolios, specialized planning, and full-time portfolio management; banking products comprising checking and savings accounts, first lien residential real estate mortgage loans, home equity lines of credit, and pledged asset lines; and trust custody services, personal trust reporting services, and administrative trustee services. It also provides digital retirement calculators; integrated web-, mobile-, and software-based trading platforms, real-time market data, options trading, premium research, and multi-channel access; self-service education and support tools; online research and analysis tools; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; retirement plan services; mutual fund clearing services; and advisor services, including interactive tools and educational content. The Company operates through branch offices. The Charles Schwab Corporation was incorporated in 1971 and is headquartered in Westlake, Texas.

Charles Schwab Corporation (The)

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the SPDR S&P 500 ETF Trust (Symbol: SPY) where we have detected an approximate $4.8 billion dollar outflow -- that's a 0.7% decrease week over week (from 1,026,082,116 to 1,018,482,116). Among the largest underlying components of SPY, in trading today Berkshire Hathaway Inc New (Symbol: BRK.B) is down about 0.5%, The Charles Schwab Corporation (Symbol: SCHW) is up about 0.5%, and Accenture plc (Symbol: ACN) is lower by about 1.1%. For a complete list of holdings, visit the SPY Holdings page » The chart below shows the one year price performance of SPY, versus its 200 day moving average:
Looking at the chart above, SPY's low point in its 52 week range is $481.80 per share, with $646.19 as the 52 week high point — that compares with a last trade of $637.29. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
WLFC YTD Return
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

SPY, BRK.B, SCHW, ACN: ETF Outflow Alert

For July 2025, Charles Schwab SCHW recorded an increase in client assets. Total client assets at month end were $10.96 trillion, up 15% from July 2024 and 2% from June 2025. Client assets receiving ongoing advisory services were $5.51 trillion, growing 2% from the year-ago period and 14% from the previous month.
Core net new assets of $46.9 billion increased 62% from the prior-year month and 10% from June 2025.
Schwab continues to benefit from heightened market volatility. Its recent performance has reflected strong asset gathering, sustained client engagement and equity market appreciation. Despite the company lowering fees on certain investing solution products, revenues from the same have been increasing, given the rise in average client assets. The brokerage firm reported a year-over-year rise in trading revenues in the first half of 2025.
In the past five years (ended 2024), Schwab’s total client assets saw a compound annual growth rate (CAGR) of 20.1%, with the uptrend continuing in the first six months of 2025. This was primarily driven by acquisitions completed during this period and market appreciation. Moreover, Schwab’s continued efforts to increase its client base in advisory solutions have been bearing fruit. Its total managed investing solutions revenues witnessed a CAGR of 12.2% over the same time frame.
Schwab’s inorganic expansion efforts amid favorable market conditions will continue to drive client asset growth, which will aid the top line. The Zacks Consensus Estimate for SCHW’s 2025 revenues is $23.41 billion, which suggests a year-over-year rise of 19.4%.
Image Source: Zacks Investment Research
Additional Data From Schwab’s July Activity
SCHW’s average interest-earning assets at the end of July were $418.6 billion, which rose marginally from July 2024 and June 2025. Average margin balances were $85.5 billion, up 17% from the year-ago month and 4% from June 2025. Average bank deposit account balances totaled $80.8 billion, down 4% from the prior-year month and marginally from the last month.
Schwab opened 377,000 new brokerage accounts in July 2025, up 15% from the year-earlier month and 17% from the previous month.
SCHW’s active brokerage accounts totaled 37.7 million, up 5% year over year and marginally from June 2025. Client banking accounts were 2.1 million, up 9% from the July 2024 level and 1% sequentially. The number of workplace plan participant accounts was up 4% year over year and 1% sequentially to 5.6 million.
Schwab’s Competitive Landscape
SCHW’s close competitor Robinhood Markets, Inc. HOOD reported an increase in equity, options and crypto Daily Average Revenue Trades (DARTs) in July. Equity DARTs were 2.7 million, up 29% from the prior-year quarter. Options DARTs rose 22% year over year to 1.1 million, while crypto DARTs soared 133% to 0.7 million.
The data reflect that Robinhood’s efforts to become a leader in the active trader market have started bearing fruit. Robinhood has been diversifying its offerings to capitalize on investor demands and expand into lucrative businesses.
Likewise, Interactive Brokers IBKR reported a year-over-year rise in client DARTs in July 2025. Total client DARTs were 3,498,000, representing a 27% increase from July 2024 and a 1% rise from June 2025.
Interactive Brokers has been continuously making efforts to develop proprietary software to automate broker-dealer functions, and expand its product suite and reach of its services. Given the solid DART numbers and a robust trading backdrop, Interactive Brokers’ revenues are expected to improve in the quarters ahead.
SCHW’s Price Performance, Valuation & Estimate Analysis
Shares of Schwab have rallied 29.9% so far this year compared with the industry’s rise of 20.8%.
Image Source: Zacks Investment Research
From a valuation standpoint, SCHW trades at a forward price-to-earnings (P/E) ratio of 18.72, above the industry average.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Schwab’s 2025 and 2026 earnings indicates year-over-year growth of 42.5% and 17.3%, respectively. Over the past 30 days, earnings estimates for both years have been revised upward.
Image Source: Zacks Investment Research
Currently, Schwab carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Schwab Witnesses Rise in July 2025 Client Assets: What's Behind it?

For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bankinter SA (BKNIY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Bankinter SA is one of 871 individual stocks in the Finance sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Bankinter SA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BKNIY's full-year earnings has moved 3.3% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BKNIY has gained about 27.2% so far this year. In comparison, Finance companies have returned an average of 17.9%. This means that Bankinter SA is outperforming the sector as a whole this year.
Reinsurance Group (RGA) is another Finance stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 33.7%.
Over the past three months, Reinsurance Group's consensus EPS estimate for the current year has increased 2.9%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bankinter SA belongs to the Banks - Foreign industry, which includes 65 individual stocks and currently sits at #52 in the Zacks Industry Rank. On average, stocks in this group have gained 12.8% this year, meaning that BKNIY is performing better in terms of year-to-date returns.
In contrast, Reinsurance Group falls under the Insurance - Life Insurance industry. Currently, this industry has 15 stocks and is ranked #25. Since the beginning of the year, the industry has moved +23.2%.
Investors interested in the Finance sector may want to keep a close eye on Bankinter SA and Reinsurance Group as they attempt to continue their solid performance.
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Are Finance Stocks Lagging Bankinter (BKNIY) This Year?

Looking at the sectors faring best as of midday Thursday, shares of Healthcare companies are outperforming other sectors, losing just 0.3%. Within that group, Eli Lilly (Symbol: LLY) and Viatris Inc (Symbol: VTRS) are two large stocks leading the way, showing a gain of 2.9% and 2.4%, respectively. Among healthcare ETFs, one ETF following the sector is the Health Care Select Sector SPDR ETF (Symbol: XLV), which is up 0.3% on the day, and down 1.97% year-to-date. Eli Lilly, meanwhile, is down 11.62% year-to-date, and Viatris Inc, is down 12.49% year-to-date. Combined, LLY and VTRS make up approximately 10.9% of the underlying holdings of XLV.
The next best performing sector is the Financial sector, losing just 0.3%. Among large Financial stocks, Texas Pacific Land Corp (Symbol: TPL) and The Charles Schwab Corporation (Symbol: SCHW) are the most notable, showing a gain of 4.4% and 2.2%, respectively. One ETF closely tracking Financial stocks is the Financial Select Sector SPDR ETF (XLF), which is flat on the day in midday trading, and up 9.93% on a year-to-date basis. Texas Pacific Land Corp, meanwhile, is down 16.41% year-to-date, and The Charles Schwab Corporation is up 33.06% year-to-date. SCHW makes up approximately 2.2% of the underlying holdings of XLF.
Comparing these stocks and ETFs on a trailing twelve month basis, below is a relative stock price performance chart, with each of the symbols shown in a different color as labeled in the legend at the bottom:
Here's a snapshot of how the S&P 500 components within the various sectors are faring in afternoon trading on Thursday. As you can see, none of the sectors are up on the day, while nine sectors are down.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Thursday Sector Leaders: Healthcare, Financial

The Charles Schwab Corporation’s SCHW shares have rallied 31.9% so far this year, outperforming the S&P 500 Index’s 8.5% growth and the industry’s 20.4% rise. The stock has underperformed its close peers Robinhood Markets HOOD and Interactive Brokers IBKR. In the same time frame, HOOD shares have skyrocketed 204.9% and the IBKR stock has gained 49.8%.
YTD Price Performance of SCHW
Image Source: Zacks Investment Research
Schwab has been benefiting from heightened market volatility of late. The brokerage firm reported a year-over-year rise in trading revenues in the first half of 2025, driven by growth in client trading volume. Higher equity market volatility has also benefited Robinhood and Interactive Brokers this year.
Since the beginning of this year, Schwab’s performance has reflected strong asset gathering, sustained client engagement and equity market appreciation, continued demand for margin and bank lending, reduction of higher-cost bank supplemental funding, as well as balanced expense management.
Thus, let us decipher whether it makes sense to add the SCHW stock to your portfolio now, given the recent increase in price.
Factors Supporting SCHW’s Growth
Improving Net Interest Margin (NIM): Amid the relatively high interest-rate environment, Schwab’s NIM has been increasing. Along with higher rates, Schwab’s focus on repaying high-cost bank supplemental funding balances has been supporting growth. By June 2025-end, the bank's supplemental funding balance had plummeted 70% to $27.7 billion from the peak of $97.1 billion in May 2023.
Driven by this, NIM increased to 2.59% in the first half of 2025 from 2.03% in the prior-year period. The metric recorded an improving trend in the prior years as well. SCHW’s NIM rose to 2.12% in 2024 from 1.98% in 2023, 1.78% in 2022 and 1.45% in 2021.
Similarly, the company’s net interest revenue (NIR) has been witnessing an increasing trend of late. While NIR declined in 2023 and 2024, the metric increased 25.9% year over year to $5.53 billion in the first six months of 2025. Growth was aided by lower interest expenses from the reduction in funding balances, along with a rise in bank lending, and higher cash and investments segregated.
Going forward, SCHW’s NIM and NIR will likely continue to improve, driven by higher rates and reduced funding costs.
Schwab expects NIM to be 2.65-2.75% by 2025-end, with fourth-quarter NIM expanding toward 2.80%.
Rise in Client Assets: SCHW continues to benefit from aggressive efforts to increase its client base in advisory solutions. The company’s total managed investing solutions revenues witnessed a compound annual growth rate (CAGR) of 12.2% over the last five years (2019-2024), with the uptrend continuing in the first half of 2025.
Schwab’s total client assets saw a CAGR of 20.1% over the same time frame, mainly driven by acquisitions completed during this period and market appreciation. The uptrend continued for total client assets in the first six months of 2025.
SCHW’s acquisition of TD Ameritrade has led to the formation of a behemoth in the brokerage industry. Moreover, the acquisitions of USAA’s Investment Management Company, Wasmer, Schroeder & Company, LLC, and the buyout of Motif’s technology and intellectual property have strengthened Schwab’s position and helped diversify revenues.
Despite the company lowering fees on certain investing solution products, revenues from the same have increased as average client asset balances improved. The uptrend is expected to continue in the near term. Strategic buyouts and favorable market conditions are likely to drive client assets, which will positively impact total revenue growth. The Zacks Consensus Estimate for Schwab’s 2025 revenues is $23.41 billion, which suggests a year-over-year rise of 19.4%.
Sales Estimates
Image Source: Zacks Investment Research
Analyst Sentiments Bullish for SCHW
Over the past 30 days, the Zacks Consensus Estimate for Schwab’s 2025 and 2026 earnings has been revised 4.6% and 4.7% upward, respectively. This reflects that analysts are optimistic regarding SCHW’s earnings growth potential.
Moreover, 2025 and 2026 earnings estimates of $4.59 per share and $5.40 per share reflect year-over-year growth rates of 41.2% and 17.7%, respectively.
Earnings Estimates
Image Source: Zacks Investment Research
Is it Wise to Add SCHW Stock to Your Portfolio Now?
Schwab’s inorganic growth initiatives and a rise in investing solution fees will keep aiding top-line growth in the quarters ahead. Moreover, the robust trading performance is expected to continue for some time in the near term as markets remain volatile, given that investors are trying to decipher the impact of Trump’s newly introduced tariffs on various sectors.
But, if we look at the stock’s current valuation, it appears to be overvalued than the industry. Schwab is currently trading at a trailing 12-month price/book (P/B) ratio of 4.40, which is above the industry average of 2.08.
SCHW’s Price-to-Book TTM
Image Source: Zacks Investment Research
Robinhood has a P/B ratio of 12.51, while Interactive Brokers has a P/B ratio of 6.04. While Schwab appears to be trading at a premium when compared with the industry on average, it is relatively inexpensive compared with its closest peers like Robinhood and Interactive Brokers.
Moreover, currently SCHW has a return on equity (ROE) of 19.3%, which is above the industry average of 11.89%, reflecting its superiority over its peers when it comes to utilizing shareholder funds. The strength in ROE also justifies the stock’s premium valuation.
SCHW’s Return on Equity
Image Source: Zacks Investment Research
Schwab has also been constantly rewarding shareholders with enhanced capital distributions. In January 2025, it announced an 8% hike in the quarterly dividend to 27 cents per share. In the past five years, the company has raised dividend payouts four times.
Also, SCHW announced a repurchase plan of $20 billion in July 2025, while signaling that the company will remain opportunistic in pursuing buybacks.
Thus, Schwab’s fundamental strength, along with its robust earnings and sales growth projections, and an impressive ROE suggest that it is worth adding the stock to your portfolio now despite being relatively expensive. Bullish analyst sentiments add another layer of optimism.
Currently, Schwab sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Schwab Gains 31.9% YTD: Should You Buy the Stock Right Now?

Key Points
Citadel's incredibly successful hedge fund performance has helped make CEO Ken Griffin a billionaire.
Investors can get a look at Citadel's moves each quarter with the company's 13F filing.
Citadel held more than 14,300 stock positions as of its last update, but a handful of stocks account for a relatively large share of the portfolio.
Ken Griffin has the distinction of being one of history's most successful investors. The billionaire founded and leads Citadel Advisors -- the most profitable hedge fund of all time.
While not all of Griffin and Citadel's trades are immediately made public, disclosure requirements from the Securities and Exchange Commission (SEC) mean that the hedge fund's holdings are disclosed quarterly through 13F filings. Read on for a look at Citadel's five largest stock holdings.
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The top five
Citadel's technology- and analytics-focused approach to portfolio construction and history of market-crushing performance make the hedge fund's holdings a point of interest for many investors. These are the fund's five biggest stock positions as of the company's most recent public disclosure:
Charles Schwab (NYSE: SCHW) is a longtime leader in financial services and stands as Citadel's top stock holding. The stock accounted for roughly 1.6% of Citadel's total stock portfolio as of the company's last update.
Invesco QQQ Trust (NASDAQ: QQQ) is an exchange traded fund (ETF) that tracks the Nasdaq-100 index and accounted for 1.1% of Citadel's holdings as of the most recent public update.
Edwards Lifesciences (NYSE: EW) is a medical technology specialist focused on services for patients with heart-valve disease and accounted for 1% of Citadel's stock portfolio weight.
Medtronic (NYSE: MDT) is a medical company that makes devices used to treat and manage a wide range of health issues, and its stock recently represented roughly 0.8% of Citadel's portfolio holdings.
Keurig Dr Pepper (NASDAQ: KDP) is a beverage giant that produces and markets a portfolio of globally known drinks. It recently made up roughly 0.7% of Citadel's stock holdings.
Notably, Hess had been Citadel's second-largest position and accounted for roughly 1.3% of the fund's stock holdings as of the company's last 13F filing, but the energy company was acquired by Chevron in July in a $55 billion all-stock deal. If Griffin and Citadel opt to hold on to the Chevron stock received through the buyout, the fund could show a new top-five holding with its next 13F filing.
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Charles Schwab is an advertising partner of Motley Fool Money. Keith Noonan has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Chevron and Edwards Lifesciences. The Motley Fool recommends Charles Schwab and Medtronic and recommends the following options: long January 2026 $75 calls on Medtronic, short January 2026 $85 calls on Medtronic, and short September 2025 $92.50 calls on Charles Schwab. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Here Are Billionaire Ken Griffin's 5 Biggest Stock Holdings

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Value ETF (Symbol: VTV) where we have detected an approximate $344.9 million dollar inflow -- that's a 0.2% increase week over week in outstanding units (from 783,746,563 to 785,684,560). Among the largest underlying components of VTV, in trading today Morgan Stanley (Symbol: MS) is up about 0.2%, Verizon Communications Inc (Symbol: VZ) is up about 0.4%, and The Charles Schwab Corporation (Symbol: SCHW) is up by about 0.6%. For a complete list of holdings, visit the VTV Holdings page » The chart below shows the one year price performance of VTV, versus its 200 day moving average:
Looking at the chart above, VTV's low point in its 52 week range is $150.43 per share, with $182.38 as the 52 week high point — that compares with a last trade of $177.72. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
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Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
ETFs Holding MN
MKTO Historical Stock Prices
PMVP shares outstanding history
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy ETF Inflows: VTV, MS, VZ, SCHW

The Charles Schwab Corporation’s SCHW efforts to repay high-cost bank supplemental funding balances have resulted in an improvement in net interest revenues (NIR) of late. By June 2025-end, the supplemental funding balance was down 70% to $27.7 billion from the peak of $97.1 billion recorded in May 2023.
Lower interest expenses from the reduction in funding balances, along with growth in bank lending and higher cash and investments segregated, aided SCHW’s NIR in the first six months of this year, which increased 25.9% year over year to $5.53 billion.
Likewise, SCHW’s net interest margin (NIM) increased to 2.59% in the first half of 2025 from 2.03% in the prior-year period.
While Schwab’s NIR declined in 2023 and 2024, the metric is expected to improve in 2025, given the continued fall in supplemental funding balance and relatively higher interest rates. Per our estimates, Schwab’s NIR will witness a year-over-year increase of 24.7% in 2025.
Similarly, NIM will expand further by year-end. Management projects NIM to be 2.65%-2.75% by 2025-end, with fourth-quarter NIM expanding toward 2.80%. We estimate NIM of 2.68% for 2025.
Net Interest Revenue Trend of Schwab’s Peers
Robinhood Markets, Inc.’s HOOD NIR increased 19.4% year over year in 2024 and 119% in 2023. In the first six months of 2025, Robinhood’s NIR increased 20% year over year to $647 million.
The rise was driven by growth in interest-earning assets and securities lending activity, partially offset by lower short-term interest rates.
Similarly, Interactive Brokers’ IBKR net interest income increased 12.7% year over year in 2024 and 67.5% in 2023. In the first half of 2025, Interactive Brokers’ net interest income increased 5.9% to $1.63 billion. The rise was driven by higher average customer credit balances and securities lending activity.
SCHW’s Price Performance, Valuation & Estimate Analysis
Shares of Schwab have rallied 31.2% so far this year compared with the industry’s growth of 20.7%. Robinhood’s share price has skyrocketed 207.6% and Interactive Brokers’ stock has gained 49.2% in the same time frame.
Image Source: Zacks Investment Research
From a valuation standpoint, SCHW trades at a forward price-to-earnings (P/E) ratio of 19.10, well above the industry average of 14.43.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for Schwab’s 2025 and 2026 earnings indicates year-over-year growth of 41.2% and 17.7%, respectively. Over the past 30 days, earnings estimates for both years have been revised upward.
Image Source: Zacks Investment Research
Currently, Schwab sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Will Reduction in High-Cost Funding Balance Aid Schwab's 2025 NIR?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares MSCI ACWI ETF (Symbol: ACWI) where we have detected an approximate $441.9 million dollar outflow -- that's a 2.0% decrease week over week (from 173,000,000 to 169,600,000). Among the largest underlying components of ACWI, in trading today The Charles Schwab Corporation (Symbol: SCHW) is down about 2.2%, Boston Scientific Corp. (Symbol: BSX) is up about 0.2%, and Applied Materials, Inc. (Symbol: AMAT) is lower by about 1.3%. For a complete list of holdings, visit the ACWI Holdings page » The chart below shows the one year price performance of ACWI, versus its 200 day moving average:
Looking at the chart above, ACWI's low point in its 52 week range is $101.25 per share, with $131.96 as the 52 week high point — that compares with a last trade of $128.51. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Institutional Holders of YPS
ICS Videos
KRNY Earnings History
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Noteworthy ETF Outflows: ACWI, SCHW, BSX, AMAT

Shares of LPL Financial LPLA gained 3.1% in after-hours trading following the release of better-than-expected second-quarter results. Adjusted earnings of $4.51 per share handily outpaced the Zacks Consensus Estimate of $4.21. The bottom line also grew 16% year over year.
Results benefited from robust revenue improvement, partly offset by higher expenses. LPLA recorded strong growth in brokerage and advisory assets, which acted as a tailwind.
After considering certain non-recurring items, net income was $273.2 million or $3.40 per share, up from $243.8 million or $3.23 per share in the prior-year quarter. Our estimate for net income was $254.6 million.
LPLA’s Revenues Improve, Expenses Rise
Total net revenues were $3.84 billion, jumping 31% year over year. The top line beat the Zacks Consensus Estimate of $3.77 billion.
Total expenses surged 33% to $3.47 billion. The rise was due to an increase in all cost components except other expenses. Our estimate for total expenses was $3.42 billion.
As of June 30, 2025, LPL Financial’s total brokerage and advisory assets were $1,919.2 billion, up 28%. Our estimate for the metric was $1,847.5 billion. In the reported quarter, total net new assets were $20.5 billion.
Total client cash balances rose 15% year over year to $50.6 billion.
LPLA’s Balance Sheet Position Solid
As of June 30, 2025, total assets were $17.47 billion, up 25% on a sequential basis. As of the same date, cash and cash equivalents totaled $4.19 billion, up from $1.23 billion in the last quarter.
Total stockholders’ equity was $5.07 billion as of June 30, 2025, up 62% sequentially.
Our View on LPL Financial
LPL Financial’s recruiting efforts and solid advisor productivity will likely continue aiding advisory revenues. Strategic acquisitions and a strong balance sheet will support financials. However, rising expenses and uncertainty regarding capital markets are likely to adversely impact commission revenues.
LPL Financial Holdings Inc. Price, Consensus and EPS Surprise
Currently, LPL Financial carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performances of LPLA’s Peers
Interactive Brokers’ IBKR second-quarter 2025 adjusted earnings per share of $1.51 surpassed the Zacks Consensus Estimate of $1.46. The bottom line grew 15.9% from the prior-year quarter.
Results primarily benefited from an increase in revenues as trading volume, customer accounts and daily average revenue trades increased in the quarter. As such, Interactive Brokers recorded a 27.1% jump in commissions.
Charles Schwab’s SCHW second-quarter 2025 adjusted earnings of $1.14 per share outpaced the Zacks Consensus Estimate of $1.09 and surged 56% year over year.
The solid performance of the asset management business and higher net interest revenues supported the results. Also, trading revenues, which soared 22.5% year over year, drove Schwab’s quarterly performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	25.47 13.37
Price/Sales	7.12 1.92
P/B	2.88 1.10
P/FCF	68.12 10.25

Indicator	TTM Median
ROE	12.04 10.06
ROA	1.18 1.13
ROI	8.05 6.38
Net Worth	139.66 0.99
Quick Ratio	0.00 1.40
Current Ratio	0.52 0.96

Indicator	TTM Median
Net Profit Margin	27.94 15.86
Operating Margin	46.04 21.72
Gross Margin	100.00 68.17
Return on tangible equity	21.40 12.03

Indicator	TTM Median
EPS	1.04 0.60
EPS Forecast	1.00 0.61
Revenue	5.33B 85.50M
Gross Profit	5.33B —
EBITDA	3.18B —

Charles Schwab Corporation (The)

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