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To learn more about Fund Management at Engine No. 1 LLC, please see our Form ADV.

View top 10 holdings or standardized performance for VOTE or NETZ.

Before investing you should carefully consider the fund’s investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained from etf.engine1.com. Please read the prospectus carefully before you invest.

Shares of any exchange traded fund (ETF) are bought and sold at market price (not net asset value (NAV)), may trade at a discount or premium to NAV and are not individually redeemed from the Funds. Brokerage commissions will reduce returns.

Definitions

Basis point - A unit of measure, equal to 1/100th of 1%, or 0.01%.

Beta - A measure of volatility showing how volatile stocks or funds are relative to their benchmark indices. A benchmark index has a fixed beta of 1. A stock or fund with a beta of more than 1 moves up and down more than the market, while the value of a stock or fund with a beta of less than 1 will fluctuate less than the market.

Bloomberg 500 - Bloomberg US Large Cap Total Return Index is a float market-cap-weighted benchmark of the 500 most highly capitalized US companies.

S&P 500 - The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the performance of 500 large companies listed on stock exchanges in the United States.

Scope 3 emissions - Scope 3 emissions are indirect greenhouse gas emissions that result from the company’s operations. They include emissions that occur in both upstream and downstream components across the value chain.

Investment Strategy and Performance

The description of Engine No. 1’s investment strategy is intended to be representative but may be changed from time to time by Engine No. 1, and Engine No. 1 may alter the information at its discretion. Engine No. 1 intends to be focused and directed in the selection of opportunities to actively engage with portfolio companies of the Fund. Engine No. 1 intends to measure the investment made by companies in their employees, communities, customers and the environment, including through the use of financial, operational, and environmental, social and governance (“ESG”) metrics. When Engine No. 1 engages in activism, such activities may not be successful or, even if successful, the Fund may incur additional costs or its investment may still lose value. In addition, while Engine No. 1 intends to seek opportunities to employ its active ownership beliefs, restrictions, corporate policies, regulatory and fiduciary concerns may limit the nature and extent of engagement under certain circumstances and such activities may not be successful.

The performance data quoted represents past performance. Past performance does not guarantee future results. The 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 their original cost and current performance may be lower or higher than the performance quoted.

Risk Considerations

Investing involves risk, including the possible loss of principal.

Funds have different risk profiles, objectives, and expenses, which should be considered when investing. All investments contain risk and may lose value. Investing in securities and other financial instruments entails substantial risk, including the possible loss of principal. The investment opportunities discussed or referenced herein may not be suited for all investors, and potential investors must make an independent assessment of the appropriateness of any investment opportunity in light of their own objectives and circumstances, including the possible risk and benefits of entering into such an investment opportunity. References to other securities are not an offer to buy or sell. The information contained herein is not complete, may change and is subject to, and qualified in its entirely by, the more complete disclosures, risk factors and other information contained in the Fund prospectus. The information is furnished as of the date shown. No representation is made with respect to its completeness or timeliness. This information is not intended to be, nor shall it be construed as, investment advice or a recommendation of any kind. Certain information has been obtained from third party sources and, although believed to be reliable, has not been independently verified and its accuracy or completeness cannot be guaranteed.

Economic, political, legislative and regulatory developments or even pandemics may occur that significantly affect certain sectors. These may cause the Funds’ NAV to fluctuate more and have a greater impact on the Funds’ performance.

Engine No. 1 Transform 500 ETF (VOTE) is not actively managed, and Fund Management at Engine No. 1 LLC (the Adviser) generally does not attempt to take defensive positions under any market conditions, including declining markets. This Fund may be subject to tracking error, which is defined as the divergence of the Fund’s performance from that of the underlying index. At any given time, the Fund can have exposure to derivative instruments. A strategy or emphasis on environmental, social and governance factors ("ESG") may limit the investment opportunities available to a portfolio. Therefore, the portfolio may underperform or perform differently than other portfolios that do not have an ESG investment focus. Please see the prospectus for a full list of Fund risks.

Engine No. 1 Transform Climate ETF (NETZ) is actively managed and may be susceptible to an increased risk of loss, including losses due to adverse events that affect the Funds’ investments more than the market as a whole, to the extent that the Funds’ investments are concentrated in the securities of a particular issuer or issuers, country, group of countries, region, market, industry, group of industries, sector or asset class. Shares are subject to the risks of an investment in a portfolio of equity securities in an industry or group of industries in which each Fund invests. Investments in emerging market countries may be subject to greater risks than investments in developed countries. The Funds may purchase and write put and call options on futures contracts that are traded on an exchange as a hedge against changes in value of its portfolio securities, or in anticipation of the purchase of securities, and may enter into closing transactions with respect to such options to terminate existing positions. There is no guarantee that such closing transactions can be effected.

Engine No. 1 Transform 500 ETF is a diversified management investment company and Transform Climate ETF is a non-diversified management investment company under the Investment Company Act of 1940. Diversification does not assure a profit or protect against a loss in a declining market. It’s not possible to invest in an index. An outbreak of an infectious respiratory illness, COVID-19, has resulted in significant economic impacts. Other infectious illness outbreaks in the future may result in similar or other impacts.

Engine No. 1 may consider any ESG factors as core to its investment process but its specific focus for the Transform Climate ETF will be on the environmental factors most relevant to climate change. Engine No. 1 intends to incorporate ESG insights and analysis to ultimately drive financial and operational performance however there is no guarantee that this strategy will be achieved, and such assessment is at Engine No. 1’s discretion. Engine No. 1 does not use ESG ratings or rankings to exclude specific companies, but instead uses its own proprietary analysis to attempt to make better informed decisions. The Transform Climate ETF may forgo certain investment opportunities that do not meet Engine No. 1’s criteria and results may be lower than other funds that use different or no ESG criteria to screen out certain companies or industries.

Legal Disclaimers

The Morningstar® US Market Extended TR USD Index℠ is a service mark of Morningstar, Inc. and has been licensed for use for certain purposes by Engine No. 1. The Engine No. 1 Transform Climate ETF is not sponsored, endorsed, sold or promoted by the Morningstar, Inc. or any of its affiliates (all such entities, collectively, “Morningstar Entities”). The Morningstar Entities make no representation or warranty, express or implied, to the owners of the Engine No. 1 Transform Climate ETF or any member of the public regarding the advisability of investing in exchange traded funds generally or in the Engine No. 1 Transform Climate ETF in particular or the ability of the Morningstar® US Market Extended TR USD Index℠ to track general equity market performance. It’s not possible to invest in an index.

The Morningstar® US Large Cap Select Index™ are service marks of Morningstar, Inc. and have been licensed for use for certain purposes by the Adviser. The Engine No. 1 Transform VOTE ETF is not sponsored, endorsed, sold or promoted by the Morningstar, Inc. or any of its affiliates (all such entities, collectively, “Morningstar Entities”). The Morningstar Entities make no representation or warranty, express or implied, to the owners of The Engine No. 1 Transform VOTE ETF or any member of the public regarding the advisability of investing in exchange traded funds generally or in the Fund in particular or the ability of the Fund to track general exchange traded funds’ market performance.

THE MORNINGSTAR ENTITIES EXPRESSLY DISCLAIM ANY WARRANTY AROUND THE ACCURACY, COMPLETENESS AND/OR TIMELINESS OF THE ENGINE NO. 1 TRANSFORM 500 ETF OR ANY DATA INCLUDED THEREIN AND MORNINGSTAR ENTITIES SHALL HAVE NO LIABILITY FOR ANY ERRORS, OMISSIONS, OR INTERRUPTIONS THEREIN.

NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE

The Fund is advised by Fund Management at Engine No. 1 LLC. Distributed by Foreside Financial Services, LLC.