SCHD Just Changed Its Strategy

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On Monday March 18th, the Schwab US Dividend Equity ETF, ticker SCHD, went through the process of reconstituting itself. What this means is that the fund went through a process of rebalancing, adding, and removing some of its holdings. Because SCHD is an index fund, and isn't an actively managed fund that has its holdings updated constantly, the only time changes are made is when the index itself is updated, which is the Dow Jones U.S. Dividend 100 Index. The fund rebalances its holdings every quarter, but only makes changes to its holdings once a year. But with the funds recent reconstitution, it's brought some pretty noticeable changes, which honestly shifts the strategy of this ETF in my opinion.