We study the combined effects of charter schools, and their various mechanisms, on a national level and across multiple outcomes. Using difference-in-differences and fixed effects methods, we find that charter entry (above 10 percent market share) increases high school graduation rate in geographic districts by about 2-4 percentage points and increases test scores by 0.06-0.16 standard deviations. Charter effects peak with 5-15 percent charter market share. Also, total effects are comprised not only of participant and competitive effects, but also the charter-induced closure of low-performing traditional public schools. The analysis addresses potential endogeneity of charter school location and timing.