Supplement dated April 24, 2024
to the Summary Prospectus of the following fund:
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Columbia Emerging Markets Consumer ETF |
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The Board of Trustees of Columbia Emerging Markets Consumer ETF (the Fund)
approved changes to the Fund's Name, Investment Objective, Principal Investment Strategies and the index that it seeks to track the performance of (the Tracked Index), effective on or about June 28, 2024 (the Effective Date). Accordingly, as of the Effective Date, the changes described in this Supplement are hereby made to the Fund's Summary Prospectus.
On the Effective Date, the Fund's name will change as indicated in the
table below. Accordingly, on the Effective Date, all references to the Current Fund Name in the Fund's Summary Prospectus are hereby deleted and replaced
with the New Fund
Name.
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Columbia Emerging Markets Consumer ETF |
Columbia Research Enhanced Emerging Economies ETF |
The information under the heading “Investment Objective” is hereby superseded and replaced with
the following:
Columbia Research Enhanced Emerging Economies ETF
(the Fund) seeks investment results that, before fees and expenses, closely correspond to the performance of the Beta Advantage® Research Enhanced Solactive Emerging Economies Index (the Index).
The information under the heading “Principal Investment Strategies” is hereby superseded and replaced with the following:
The Fund is an exchange-traded fund (ETF) that seeks to track the performance of the
Index. The Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in equity securities (including, but not limited to, common shares traded on local exchanges, American Depositary Receipts (ADRs) and Global
Depositary Receipts (GDRs)) of companies located in emerging market countries. The Index reflects a rules-based strategic beta approach to investing in the companies that
comprise the Solactive GBS Emerging Markets Large & Mid Cap USD Index (also referred to as the Starting Universe), with the Index designed to achieve stronger total return when compared with the Starting Universe, which is a broad measure of the performance of emerging markets
large- and mid-cap growth and value companies. The Index, like the Starting Universe, and therefore the Fund, typically holds only common stocks and depository receipts.
The Index was designed by the Fund’s investment adviser, Columbia Management Investment Advisers, LLC (Columbia
Management or the Investment Manager). The Index is owned and calculated by Solactive AG. "Solactive" is a trademark of Solactive AG.
The Index is comprised of a subset of the companies within the Solactive GBS Emerging
Markets Large & Mid Cap USD Index. With a starting point of the Solactive GBS Emerging Markets Large & Mid Cap USD Index, the Index was designed to reflect the performance of emerging markets large- and mid-cap growth and value companies through the
application of a rules-based methodology that takes into account company quality, value, and catalyst factors. The Index construction methodology typically results in approximately 325-400 Index holdings, but this range can fluctuate
because the Index has no constraints on number of holdings.
The Fund
typically utilizes a “representative sampling” strategy whereby the Fund invests in some, but not all, of the component securities of the Index. As such, the Fund may
not track the Index with the same degree of accuracy as would an investment vehicle replicating (or investing in) the entire Index. Under certain circumstances or conditions
or due to other factors, including, for example, the size of the Fund’s portfolio, the Fund may use a full replication strategy, which means that the Fund will seek to track the performance of the Index by investing all, or substantially
all, of its assets in the securities that make up the Index in approximately the same proportion as their weighting in the Index.
The Fund may sell securities or other holdings that are represented in the Index or purchase securities or make other investments that are not yet represented in the Index in anticipation of their removal from or addition to the Index.
The Fund is passively managed and thus Columbia Management does not provide day-to-day
active management of the Fund’s assets based on its view of the investment merits of a security or company, nor does it conduct fundamental investment research or analysis, or seek to forecast or otherwise consider market movements, conditions, or
trends in the day-to-day management of the Fund’s assets. The Fund pursues its investment objective of correlating performance with the Index regardless of market
conditions and does not take defensive positions.
In connection with
its representative sampling approach, the Fund seeks to invest in specific countries or geographic regions to approximately the same extent as the Index. The Fund concentrates
its investments (i.e., holds 25% or more of its net assets) in a particular industry or group of industries to approximately the same extent that the Index is concentrated.
The Index is reconstituted semi-annually in May and November.