UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number
811-22733
JOHN HANCOCK EXCHANGE-TRADED FUND TRUST
(Exact name of registrant as specified in charter)
200 BERKELEY STREET, BOSTON, MA 02116
(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE
TREASURER
200 BERKELEY STREET
BOSTON, MA 02116
(Name and address of agent for service)
Registrant's telephone number, including area code:
(617) 543-9634
Date of fiscal year end:
April 30
Date of reporting period:
April 30, 2025
ITEM 1. REPORTS TO STOCKHOLDERS
The Registrant prepared the following annual reports to shareholders for the year ended April 30, 2025:

John Hancock Multifactor ETFs
  • John Hancock Multifactor Developed International ETF
  • John Hancock Multifactor Emerging Markets ETF
  • John Hancock Multifactor Large Cap ETF
  • John Hancock Multifactor Mid Cap ETF
  • John Hancock Multifactor Small Cap ETF

John Hancock Active Fixed Income ETFs
  • John Hancock Core Bond ETF
  • John Hancock Core Plus Bond ETF
  • John Hancock Corporate Bond ETF
  • John Hancock Dynamic Municipal Bond ETF
  • John Hancock High Yield ETF
  • John Hancock Mortgage-Backed Securities ETF
  • John Hancock Preferred Income ETF

John Hancock Active Equity ETFs
  • John Hancock Disciplined Value International Select ETF
  • John Hancock Fundamental All Cap Core ETF
  • John Hancock International High Dividend ETF
  • John Hancock U.S. High Dividend ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Multifactor Developed International ETF
Multifactor Developed International ETF/JHMD
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Multifactor Developed International ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multifactor Developed International ETF/JHMD $41 0.39%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Multifactor Developed International ETF (JHMD) returned 12.23% for the year ended April 30, 2025. International equities delivered strong, double-digit gains in the 12 months ended April 30, 2025, albeit with elevated volatility late in the period in response to shifts in U.S. trade policy. European stocks performed particularly well, reflecting positive sentiment regarding falling interest rates and supportive fiscal policy.
TOP PERFORMANCE CONTRIBUTORS
Financials | Financial stocks, particularly those based in Europe, made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. Swiss Re AG, HSBC Holdings PLC, and Deutsche Bank AG were among the many meaningful contributors in this area.
Industrials | European industrials also made a strong contribution, led by Rheinmetall AG and Vinci SA.
Communication services | European stocks led the way in this sector, as well, with the largest contributions coming from Deutsche Telecom AG and Orange SA.


TOP PERFORMANCE DETRACTORS
Materials and energy | Commodity-sensitive stocks, in general, lagged in the period. Glencore PLC and TotalEnergies SE were the largest detractors in the two sectors, respectively.
Other areas of weakness | Holdings in the information technology sector combined for a negative total return, primarily due to downturns in the semiconductor stocks ASML Holding NV and STMicroelectronics NV. The pharmaceutical stock Novo Nordisk A/S was the largest detractor in the fund as a whole.


The views expressed in this report are exclusively those of the portfolio management team at Dimensional Fund Advisors LP, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years Since inception
Multifactor Developed International ETF (at net asset value) 12.23% 11.58% 7.37%
MSCI EAFE Index 12.57% 11.37% 7.55%
John Hancock Dimensional Developed International Index 13.02% 12.40% 8.15%
 
The fund has designated MSCI EAFE Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $679,677,172
Total number of portfolio holdings 585
Total advisory fees paid (net) $2,189,125
Portfolio turnover rate 13%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Vinci SA 1.7%
Novartis AG 1.5%
Shell PLC 1.3%
TotalEnergies SE 1.2%
ASML Holding NV 1.0%
BNP Paribas SA 1.0%
Nestle SA 0.9%
Novo Nordisk A/S, B Shares 0.9%
Danone SA 0.8%
Deutsche Telekom AG 0.8%
Sector Composition
Financials 23.2%
Industrials 18.6%
Consumer discretionary 9.7%
Health care 9.1%
Consumer staples 8.6%
Materials 7.2%
Communication services 6.0%
Information technology 5.6%
Energy 4.7%
Utilities 4.4%
Real estate 1.8%
Short-term investments and other 1.1%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

890AETF

4/25

6/25

John Hancock Multifactor Developed International ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Multifactor Emerging Markets ETF
Multifactor Emerging Markets ETF/JHEM
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Multifactor Emerging Markets ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multifactor Emerging Markets ETF/JHEM $50 0.49%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Multifactor Emerging Markets ETF (JHEM) returned 5.50% for the year ended April 30, 2025. Emerging-market stocks delivered gains in the 12 months ended April 30, 2025. Although a protectionist shift in U.S. trade policy fueled heightened volatility later in the period, the asset class was generally well supported by falling global interest rates and weakness in the U.S. dollar.
TOP PERFORMANCE CONTRIBUTORS
Financial stocks | Financials made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. The fund was helped by its positions in India, where HDFC Bank, Ltd. and ICICI Bank, Ltd. were top contributors. Holdings in a number of Chinese stocks also fueled positive results, led by China Construction Bank Corp. and Industrial & Commercial Bank of China, Ltd.
Communication services | The Chinese media technology company Tencent Holdings, Ltd., accounted for the majority of the fund’s strength in the sector.
Consumer discretionary | China was the key source of positive returns here, as well, led by Alibaba Group Holding, Ltd. and the electric vehicle maker BYD Company, Ltd.


TOP PERFORMANCE DETRACTORS
Materials and energy | Commodity-sensitive stocks, in general, lagged in the period. Tata Steel, Ltd. and Petroleo Brasileiro SA were among the top detractors, respectively, in the two sectors.
Information technology | The Korean technology giant Samsung Electronics Company, Ltd., which trailed its sector peers on concerns about its sluggish growth, was the leading detractor in both technology and the portfolio as a whole.


The views expressed in this report are exclusively those of the portfolio management team at Dimensional Fund Advisors LP, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years Since inception
Multifactor Emerging Markets ETF (at net asset value) 5.50% 7.19% 3.51%
MSCI Emerging Markets Index 9.02% 6.35% 3.39%
John Hancock Dimensional Emerging Markets Index 6.88% 8.62% 4.63%
 
The fund has designated MSCI Emerging Markets Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $577,309,977
Total number of portfolio holdings 878
Total advisory fees paid (net) $2,292,967
Portfolio turnover rate 13%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total investments of the fund.
Top Ten Holdings
Tencent Holdings, Ltd. 3.8%
Taiwan Semiconductor Manufacturing Company, Ltd. 3.7%
Alibaba Group Holding, Ltd. 2.7%
Samsung Electronics Company, Ltd. 2.6%
HDFC Bank, Ltd. 1.5%
ICICI Bank, Ltd. 1.4%
Reliance Industries, Ltd. 1.4%
PDD Holdings, Inc., ADR 1.4%
China Construction Bank Corp., H Shares 1.0%
Meituan, Class B 0.9%
Sector Composition
Financials 25.5%
Information technology 17.1%
Consumer discretionary 15.0%
Communication services 9.4%
Materials 7.4%
Industrials 6.8%
Consumer staples 5.8%
Energy 5.3%
Utilities 3.2%
Health care 3.0%
Real estate 1.1%
Short-term investments 0.4%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

990AETF

4/25

6/25

John Hancock Multifactor Emerging Markets ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Multifactor Large Cap ETF
Multifactor Large Cap ETF/JHML
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Multifactor Large Cap ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multifactor Large Cap ETF/JHML $30 0.29%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Multifactor Large Cap ETF (JHML) returned 9.16% for the year ended April 30, 2025. U.S. equities delivered a healthy gain in the 12 months ended April 30, 2025. Stocks moved steadily higher through mid-February on optimism about artificial intelligence and strength in the United States’ economic growth versus the rest of the world. However, the market subsequently gave back some of its prior gain on worries about the economic impact of protectionist U.S. trade policy.
TOP PERFORMANCE CONTRIBUTORS
Financial stocks | Financials made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. Berkshire Hathaway, Inc. was the leading contributor in the sector, followed by JPMorgan Chase & Co. and positions in several credit card providers.
Information technology | NVIDIA Corp., Apple, Inc., Broadcom, Inc., and Palantir Technologies, Inc. all contributed positively.
Other areas of strength | Holdings in the communication services, industrials, and utilities sectors, among others, further added to absolute performance. Meta Platforms, Inc. and Netflix, Inc. were leading contributors in communication services.


TOP PERFORMANCE DETRACTORS
Energy | A number of stocks in the sector posted losses due to a steady decline in oil prices. ConocoPhillips and the refiner Valero Energy Corp. were among the several modest detractors in the sector.
Certain individual stocks | The pharmaceutical giant Merck & Company, Inc. and the semiconductor stock Advanced Micro Devices, Inc. were the largest detractors in the fund as a whole.


The views expressed in this report are exclusively those of the portfolio management team at Dimensional Fund Advisors LP, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years Since inception
Multifactor Large Cap ETF (at net asset value) 9.16% 14.60% 12.35%
Russell 1000 Index 11.94% 15.42% 13.40%
John Hancock Dimensional Large Cap Index 9.46% 14.93% 12.69%
 
The fund has designated Russell 1000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $891,550,519
Total number of portfolio holdings 782
Total advisory fees paid (net) $2,172,158
Portfolio turnover rate 4%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 3.8%
Apple, Inc. 3.8%
NVIDIA Corp. 2.9%
Amazon.com, Inc. 2.6%
Alphabet, Inc., Class A 1.8%
Meta Platforms, Inc., Class A 1.8%
Berkshire Hathaway, Inc., Class B 1.3%
Broadcom, Inc. 1.2%
JPMorgan Chase & Co. 1.2%
Eli Lilly & Company 1.1%
Sector Composition
Information technology 23.0%
Financials 16.4%
Industrials 12.1%
Health care 10.8%
Consumer discretionary 10.0%
Communication services 7.3%
Consumer staples 6.2%
Utilities 4.3%
Energy 3.6%
Materials 3.3%
Real estate 2.9%
Short-term investments and other 0.1%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

850AETF

4/25

6/25

John Hancock Multifactor Large Cap ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Multifactor Mid Cap ETF
Multifactor Mid Cap ETF/JHMM
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Multifactor Mid Cap ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multifactor Mid Cap ETF/JHMM $42 0.41%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Multifactor Mid Cap ETF (JHMM) returned 4.79% for the year ended April 30, 2025. Mid-cap stocks posted healthy gains in the 12 months ended April 30, 2025, but they finished well off of their intra-period high. After performing well until mid-January, the category fell sharply through early April on concerns that protectionist trade policy would pressure economic growth. Mid-cap stocks staged an impressive rebound in the final weeks of the period, however, allowing the asset class to finish in positive territory.
TOP PERFORMANCE CONTRIBUTORS
Financial stocks | Financials made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. Robinhood Markets, Inc. was a top performer, as were holdings in a number of non-bank financials.
Utilities | While the sector had only a modest portfolio weighting, it was nonetheless a sizable contributor due to the strong performance of the fund’s holdings. Vistra Corp., which was seen as a beneficiary of AI demand, was the leading contributor.
Other areas of strength | Holdings in the real estate, communication services, and information technology sectors, among others, further added to absolute performance. The technology stock AppLovin Corp. was the largest contributor in the portfolio as a whole.


TOP PERFORMANCE DETRACTORS
Materials and energy | Commodity-sensitive stocks, in general, lagged the broader mid-cap category in the period. Celanese Corp. and Diamondback Energy, Inc. were the largest detractors in the two sectors, respectively.
Healthcare | The fund’s holdings in the sector combined for a small loss and detracted from absolute performance.


The views expressed in this report are exclusively those of the portfolio management team at Dimensional Fund Advisors LP, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years Since inception
Multifactor Mid Cap ETF (at net asset value) 4.79% 12.83% 9.97%
Russell 3000 Index 11.40% 15.12% 13.03%
John Hancock Dimensional Mid Cap Index 5.23% 13.30% 10.42%
Russell Midcap Index 7.33% 12.96% 10.09%
 
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $3,790,239,969
Total number of portfolio holdings 664
Total advisory fees paid (net) $14,221,574
Portfolio turnover rate 12%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
United Rentals, Inc. 0.5%
The Hartford Financial Services Group, Inc. 0.5%
Vistra Corp. 0.5%
Fastenal Company 0.5%
Fair Isaac Corp. 0.5%
Take-Two Interactive Software, Inc. 0.4%
Cencora, Inc. 0.4%
Cheniere Energy, Inc. 0.4%
Entergy Corp. 0.4%
AMETEK, Inc. 0.4%
Sector Composition
Industrials 19.8%
Financials 16.4%
Information technology 13.1%
Consumer discretionary 10.9%
Health care 10.5%
Utilities 6.0%
Real estate 5.9%
Materials 5.6%
Consumer staples 4.7%
Energy 4.0%
Communication services 3.0%
Short-term investments and other 0.1%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

840AETF

4/25

6/25

John Hancock Multifactor Mid Cap ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Multifactor Small Cap ETF
Multifactor Small Cap ETF/JHSC
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Multifactor Small Cap ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Multifactor Small Cap ETF/JHSC $42 0.42%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Multifactor Small Cap ETF (JHSC) returned 0.43% for the year ended April 30, 2025. Small-cap stocks produced a narrow gain in the 12 months ended April 30, 2025. After performing well through the end of 2024, small-cap stocks declined steadily until early April on concerns that protectionist trade policy would pressure economic growth. However, a late rally allowed the category to finish in positive territory for the full period.
TOP PERFORMANCE CONTRIBUTORS
Financial stocks | Financials made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. Western Alliance Bancorp and Axis Capital Holdings, Ltd. were among the top performers.
Healthcare | The sector, in general, benefited from its defensive nature. Intra-Cellular Therapies, Inc. was the top contributor in both healthcare and the fund as a whole.


TOP PERFORMANCE DETRACTORS
Energy | Small-cap energy stocks experienced sizable losses amid a steady decline in oil prices. Weatherford International PLC and Murphy Oil Corp. were among the many detractors in the sector.
Materials | The sector lagged due to volatility in commodity prices and the softer economic outlook. The chemical producer Olin Corp. was the leading detractor.
Other areas of weakness | Holdings in the information technology, industrials, and consumer discretionary sectors finished in negative territory. The biopharmaceutical company Viking Therapeutics, Inc. was the largest individual detractor.


The views expressed in this report are exclusively those of the portfolio management team at Dimensional Fund Advisors LP, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year 5 Years Since inception
Multifactor Small Cap ETF (at net asset value) 0.43% 11.74% 6.04%
Russell 3000 Index 11.40% 15.12% 11.98%
John Hancock Dimensional Small Cap Index 0.50% 12.15% 6.44%
Russell 2000 Index 0.87% 9.88% 5.28%
 
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $484,048,518
Total number of portfolio holdings 467
Total advisory fees paid (net) $1,729,405
Portfolio turnover rate 66%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Agree Realty Corp. 0.5%
ExlService Holdings, Inc. 0.5%
Planet Fitness, Inc., Class A 0.5%
REVOLUTION Medicines, Inc. 0.5%
CommVault Systems, Inc. 0.5%
Esab Corp. 0.5%
Casella Waste Systems, Inc., Class A 0.5%
The AZEK Company, Inc. 0.5%
UGI Corp. 0.5%
Axis Capital Holdings, Ltd. 0.5%
Sector Composition
Industrials 21.6%
Financials 20.2%
Consumer discretionary 13.1%
Information technology 12.2%
Real estate 7.2%
Health care 7.0%
Materials 5.3%
Utilities 4.7%
Energy 3.8%
Consumer staples 2.2%
Communication services 1.9%
Short-term investments and other 0.8%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

950AETF

4/25

6/25

John Hancock Multifactor Small Cap ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Core Bond ETF
Core Bond ETF/JHCR
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Core Bond ETF (the fund) for the period of December 17, 2024 (commencement of operations) to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Core Bond ETF/JHCR $11 0.29%
Fund Statistics
Fund net assets $10,027,242
Total number of portfolio holdings 207
Total advisory fees paid (net) $0
Portfolio turnover rate 67%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
U.S. Government Agency 38.9%
Corporate bonds 27.9%
U.S. Government 20.2%
Asset-backed securities 7.7%
Collateralized mortgage obligations – Commercial and residential 3.6%
Collateralized mortgage obligations – U.S. Government Agency 0.6%
Short-term investments and other 1.1%
Quality Composition
Graphical Representation - Allocation 1 Chart
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-25 and do not reflect subsequent downgrades or upgrades, if any.
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

988AETF

4/25

6/25

John Hancock Core Bond ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Core Plus Bond ETF
Core Plus Bond ETF/JHCP
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Core Plus Bond ETF (the fund) for the period of December 17, 2024 (commencement of operations) to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Core Plus Bond ETF/JHCP $13 0.36%
Fund Statistics
Fund net assets $48,731,081
Total number of portfolio holdings 309
Total advisory fees paid (net) $0
Portfolio turnover rate 66%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
U.S. Government Agency 36.2%
Corporate bonds 35.3%
U.S. Government 20.0%
Asset-backed securities 4.3%
Collateralized mortgage obligations – Commercial and residential 2.0%
Collateralized mortgage obligations – U.S. Government Agency 0.6%
Short-term investments and other 1.6%
Quality Composition
Graphical Representation - Allocation 1 Chart
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-25 and do not reflect subsequent downgrades or upgrades, if any.
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

989AETF

4/25

6/25

John Hancock Core Plus Bond ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Corporate Bond ETF
Corporate Bond ETF/JHCB
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Corporate Bond ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Corporate Bond ETF/JHCB $30 0.29%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Corporate Bond ETF (JHCB) returned 7.74% for the year ended April 30, 2025. Investment-grade corporate bonds delivered solid returns in the 12 months ended April 30, 2025, with a decline in U.S. Treasury yields and the contribution from income offsetting the adverse effect of a modest increase in yield spreads. The asset class was well supported by the backdrop of accommodative U.S. Federal Reserve (Fed) policy, healthy corporate earnings, and generally positive investor risk appetites for the majority of the period.
TOP PERFORMANCE CONTRIBUTORS
Yield positioning and interest payments | The fund was well positioned for a steepening of the yield curve which occurred during the period. Intermediate-term issues generally provided the strongest returns. Interest payments were also significant contributors to return.
Banking issues | Holdings in this industry group made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. Deutsche Bank AG and Citizens Financial Group were meaningful contributors in this category.


TOP PERFORMANCE DETRACTORS
Asset allocation | Although allocation to the energy and communications sectors contributed to absolute performance, these sectors detracted relative to the Bloomberg U.S. Corporate Bond Index.
Individual security detractors | A narrow group of individual securities finished with losses, including Occidental Petroleum Corp. and pharmaceutical company Viatris, Inc.


The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
Corporate Bond ETF (at net asset value) 7.74% (0.09)%
Bloomberg U.S. Aggregate Bond Index 8.02% (0.56)%
Bloomberg U.S. Corporate Bond Index 7.60% (0.19)%
 
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $55,700,563
Total number of portfolio holdings 88
Total advisory fees paid (net) $0
Portfolio turnover rate 45%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Sector Composition
Financials 43.6%
Information technology 10.7%
Industrials 8.1%
Utilities 8.0%
Communication services 7.0%
Energy 6.8%
Health care 6.8%
Real estate 3.4%
Consumer discretionary 3.3%
Materials 1.2%
Short-term investments and other 1.1%
Quality Composition
Graphical Representation - Allocation 1 Chart
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-25 and do not reflect subsequent downgrades or upgrades, if any.
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

815AETF

4/25

6/25

John Hancock Corporate Bond ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Dynamic Municipal Bond ETF
Dynamic Municipal Bond ETF/JHMU
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Dynamic Municipal Bond ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
This report describes changes to the fund that occurred during the reporting period.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Dynamic Municipal Bond ETF/JHMU $40 0.39%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Dynamic Municipal Bond ETF (JHMU) returned 2.79% for the year ended April 30, 2025. Municipal bonds posted positive absolute returns in the annual period, with the contribution from income outweighing the effect of mixed price action. The category lagged the broader fixed-income market due in part to a high level of new-issue supply. In addition, the asset class experienced elevated volatility in early 2025 after the protectionist shift in U.S. trade policy began to fuel concerns about the economic outlook.
TOP PERFORMANCE CONTRIBUTORS
Revenue bonds | This segment of the fund made the largest contribution to absolute performance, due primarily to its substantial portfolio weighting. Healthcare, education, and industrial revenue bonds were key contributors in the category.
General obligation debt | State and local general obligation issues also helped results, albeit with a smaller contribution than revenue bonds due to their smaller portfolio weighting.


TOP PERFORMANCE DETRACTORS
No category detracted | At a time of positive performance for the fund and the market as a whole, no major segment of the portfolio hurt absolute returns. A number of individual securities posted losses, however, including the bonds of Western Carolina University and Glendale Industrial Development Authority.


The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
Dynamic Municipal Bond ETF (at net asset value) 2.79% 7.67%
Bloomberg Municipal Bond Index 1.66% 5.82%
 
The fund has designated Bloomberg Municipal Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $25,428,947
Total number of portfolio holdings 127
Total advisory fees paid (net) $0
Portfolio turnover rate 83%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
General obligation bonds 9.7%
Revenue bonds 86.3%
Other revenue 17.7%
Airport 14.5%
Health care 13.5%
Education 13.0%
Development 12.9%
Water and sewer 6.2%
Housing 3.1%
Utilities 2.4%
Transportation 1.0%
Tobacco 0.8%
Facilities 0.6%
Pollution 0.6%
Short-term investments and other 4.0%
Quality Composition
Graphical Representation - Allocation 1 Chart
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-25 and do not reflect subsequent downgrades or upgrades, if any.
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Material Fund Changes
Effective October 4, 2024, the principal investment strategies of the fund were changed to state: The fund may buy bonds of any maturity or duration. The manager may implement short-term trading strategies to take advantage of pricing imbalances within the municipal bond market. There is no guarantee that the manager will be able to implement these strategies effectively and the strategies may have a more significant impact on the fund's performance before it achieves scale.
Related to this change in principal investment strategies, the following high portfolio turnover risk disclosure was added to the fund's prospectus: Trading securities actively and frequently can increase transaction costs (thus lowering performance) and taxable distributions.
This is a summary of certain changes to the fund since 5-1-24 . For more complete information, please refer to the fund’s prospectus. The currently effective prospectus is available at jhinvestments.com/documents or by calling 800-225-6020 .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

944AETF

4/25

6/25

John Hancock Dynamic Municipal Bond ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock High Yield ETF
High Yield ETF/JHHY
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock High Yield ETF (the fund) for the period of May 1, 2024 (commencement of operations) to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
High Yield ETF/JHHY $54 0.52%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
High Yield ETF (JHHY) returned 8.54% for the year ended April 30, 2025. High-yield corporate bonds delivered robust returns in the 12 months ended April 30, 2025, with a decline in U.S. Treasury yields and the benefit of income offsetting the adverse effect of an increase in yield spreads. The asset class was well supported by the backdrop of accommodative U.S. Federal Reserve (Fed) policy, healthy corporate earnings, and generally positive investor risk appetites for the majority of the period. However, concerns about the economic impact of President Trump’s trade policies led to heightened volatility later in the period.
TOP PERFORMANCE CONTRIBUTORS
All industries produced gains | The contributors to performance were broad based, reflecting the positive return for both the fund and the high-yield market as a whole. The media, telecommunications, healthcare, and technology/electronics industries were the largest contributors.
Wireline integrated & services | This sub-industry within telecommunications contributed the most to absolute performance, led by a position in Lumen Technologies, Inc.
Cable & satellite TV | The bonds of Charter Communications, Inc. performed well in the period, fueling a healthy gain from this subindustry group.


TOP PERFORMANCE DETRACTORS
Oil field equipment & services | The sub-industry was one of the few to finish the period in negative territory, reflecting the decline in crude oil prices. Nabors Industries, Inc. was the largest detractor in the category.
Personal & household products | The fund also lost some ground in this subindustry, with the weakest results coming from a position in Kronos Acquisition Holdings, Inc.


The views expressed in this report are exclusively those of the portfolio management team at Marathon Asset Management, L.P., and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
High Yield ETF (at net asset value) 8.54% 8.54%
Bloomberg U.S. Aggregate Bond Index 8.02% 8.02%
ICE BofA U.S. High Yield Constrained Index 8.69% 8.69%
 
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $34,535,264
Total number of portfolio holdings 547
Total advisory fees paid (net) $0
Portfolio turnover rate 252%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Sector Composition
Consumer discretionary 15.3%
Communication services 14.4%
Industrials 13.1%
Financials 11.8%
Energy 10.9%
Materials 9.4%
Health care 8.3%
Information technology 4.7%
Consumer staples 4.1%
Real estate 3.6%
Utilities 2.7%
Short-term investments and other 1.7%
Quality Composition
Graphical Representation - Allocation 1 Chart
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-25 and do not reflect subsequent downgrades or upgrades, if any.
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

895AETF

4/25

6/25

John Hancock High Yield ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Mortgage-Backed Securities ETF
Mortgage-Backed Securities ETF/JHMB
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Mortgage-Backed Securities ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Mortgage-Backed Securities ETF/JHMB $41 0.39%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Mortgage-Backed Securities ETF (JHMB) returned 9.28% for the year ended April 30, 2025. Mortgage-backed securities (MBS) registered strong total returns in the 12-month period that ended on April 30, 2025. Falling inflation allowed the U.S. Federal Reserve (Fed) to cut interest rates by a full percentage point in the latter half of 2024, bringing the benchmark rate from a range of 5.25%-5.50% to 4.25%-4.50%. U.S. Treasury yields fell in response, boosting fixed-income categories—such as MBS—with above-average interest rate sensitivity.
TOP PERFORMANCE CONTRIBUTORS
Sector allocations | Allocations to commercial mortgage-backed securities (CMBS) interest only securities, GNMA 30 year mortgages, and U.S. agency credit were meaningful contributors to return.
Yield positioning and interest payments | The fund was positioned for a steepening of the yield curve which occurred. The fund's intermediate durations fared better than longer and shorter durations. Interest payments were significant contributors to return.


TOP PERFORMANCE DETRACTORS
Certain holdings outside of MBS | Small portfolio positions in multifamily commercial mortgage-backed securities (CMBS) finished with negative returns, as did other specific segments of CMBS and asset-backed securities.


The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
Mortgage-Backed Securities ETF (at net asset value) 9.28% 0.39%
Bloomberg U.S. Aggregate Bond Index 8.02% (1.34)%
Bloomberg U.S. MBS Index 8.99% (1.02)%
 
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $133,104,154
Total number of portfolio holdings 368
Total advisory fees paid (net) $82,330
Portfolio turnover rate 67%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Portfolio Composition
U.S. Government Agency 67.2%
Collateralized mortgage obligations – Commercial and residential 15.9%
Asset-backed securities 13.0%
Collateralized mortgage obligations – U.S. Government Agency 3.4%
Short-term investments and other 0.5%
Quality Composition
Graphical Representation - Allocation 1 Chart
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-25 and do not reflect subsequent downgrades or upgrades, if any.
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

845AETF

4/25

6/25

John Hancock Mortgage-Backed Securities ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Preferred Income ETF
Preferred Income ETF/JHPI
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Preferred Income ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Preferred Income ETF/JHPI $56 0.54%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Preferred Income ETF (JHPI) returned 7.30% for the year ended April 30, 2025. Preferred securities registered gains in the 12 months ended April 30, 2025, a time in which both the equity and fixed-income markets produced positive returns. Preferreds performed particularly well in the first five months of the period, when the U.S. Federal Reserve’s decision to start cutting interest rates fueled a rally in the bond market. The asset class began to lose steam in late 2024 once investors started to become less optimistic about the interest rate outlook, and it fell further in the period on concerns about rising tariffs. As a result, preferreds finished well off of their intra-period high.
TOP PERFORMANCE CONTRIBUTORS
Banking issues | The banking industry made the largest contribution to absolute performance due to its strong return and sizable portfolio weighting. The regional banks M&T Bank Corp. and KeyCorp were meaningful contributors at the individual security level.
Electric utilities | The sector performed well on expectations that the growth of artificial intelligence will lead to rising power demand. TXMN Energy, Inc. and Vistra Corp. were top contributors.
Communications and insurance | These sectors further contributed to absolute returns, led by U.S. Cellular Corp. and SBL Holdings, Inc., respectively.


TOP PERFORMANCE DETRACTORS
No major segment detracted | No major segment of the portfolio hurt absolute return. A number of individual securities posted losses, however, including SCE Trust (the issuing entity of Southern California Edison) and the pipeline operator Sempra.


The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
Preferred Income ETF (at net asset value) 7.30% 2.33%
Bloomberg U.S. Aggregate Bond Index 8.02% (1.25)%
ICE BofA U.S. All Capital Securities Index 6.61% 0.78%
 
The fund has designated Bloomberg U.S. Aggregate Bond Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $72,064,196
Total number of portfolio holdings 171
Total advisory fees paid (net) $84,414
Portfolio turnover rate 29%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Sector Composition
Financials 53.0%
Utilities 26.6%
Energy 6.3%
Communication services 4.7%
Real estate 2.3%
Industrials 1.7%
Health care 0.9%
Consumer discretionary 0.7%
Information technology 0.5%
Short-term investments and other 3.3%
Quality Composition
Graphical Representation - Allocation 1 Chart
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-25 and do not reflect subsequent downgrades or upgrades, if any.
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

885AETF

4/25

6/25

John Hancock Preferred Income ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Disciplined Value International Select ETF
Disciplined Value International Select ETF/JDVI
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Disciplined Value International Select ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Disciplined Value International Select ETF/JDVI $73 0.69%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Disciplined Value International Select ETF (JDVI) returned 10.21% for the year ended April 30, 2025. International equities delivered strong, double-digit gains in the 12 months ended April 30, 2025, albeit with elevated volatility late in the period in response to shifts in U.S. trade policy. Certain European stocks performed particularly well, reflecting positive sentiment regarding falling interest rates and supportive fiscal policy.
TOP PERFORMANCE CONTRIBUTORS
Financial stocks | Financials made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. NatWest Group PLC, Allianz SE, and Nordea Bank Abp were the leading individual contributors in the sector.
Industrials | BAE Systems PLC, which benefited from expectations for rising defense spending in Europe, was the most notable contributor. Positions in Mitsubishi Heavy Industries, Ltd. and Siemens AG also helped results.
Country performance | At the country level, Japan and the United Kingdom contributed most to absolute performance.


TOP PERFORMANCE DETRACTORS
Information technology | The Korean technology giant Samsung Electronics Company, Ltd., which lagged its sector peers by a wide margin on concerns about its sluggish growth, was the largest detractor. Capgemini SE and SK Hynix, Inc. were further detractors of note.
Energy | Shares of Cenovus Energy, Inc. and MEG Energy Corp. fell sharply, weighing on the fund’s absolute performance.


The views expressed in this report are exclusively those of the portfolio management team at Boston Partners Global Investors, Inc., and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
Disciplined Value International Select ETF (at net asset value) 10.21% 11.60%
MSCI EAFE Index 12.57% 13.65%
 
The fund has designated MSCI EAFE Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $34,173,749
Total number of portfolio holdings 41
Total advisory fees paid (net) $6,624
Portfolio turnover rate 55%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
BAE Systems PLC 4.8%
Sony Group Corp. 4.7%
Novartis AG 4.4%
Mitsubishi Electric Corp. 4.2%
Kinross Gold Corp. 3.5%
Sandoz Group AG 3.1%
Capgemini SE 3.1%
Sumitomo Mitsui Financial Group, Inc. 3.0%
AstraZeneca PLC 3.0%
Siemens AG 3.0%
Sector Composition
Financials 23.3%
Industrials 23.0%
Health care 10.4%
Consumer discretionary 10.2%
Materials 8.4%
Energy 6.9%
Information technology 6.1%
Consumer staples 6.0%
Communication services 4.5%
Other assets and liabilities, net 1.2%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

930AETF

4/25

6/25

John Hancock Disciplined Value International Select ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock Fundamental All Cap Core ETF
Fundamental All Cap Core ETF/JHAC
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock Fundamental All Cap Core ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
Fundamental All Cap Core ETF/JHAC $74 0.72%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
Fundamental All Cap Core ETF (JHAC) returned 4.64% for the year ended April 30, 2025. U.S. equities delivered a healthy gain in the 12 months ended April 30, 2025. Stocks moved steadily higher through mid-February on optimism about artificial intelligence and strength in the United States’ economic growth versus the rest of the world. However, the market subsequently gave back some of its prior gain on worries about the economic impact of protectionist U.S. trade policy. The gains were primarily in large caps, which outperformed mid and small cap stocks.
TOP PERFORMANCE CONTRIBUTORS
Financial stocks | KKR & Company, Inc., a private equity and real estate investment firm, was the leading contributor to absolute returns in the sector. Several other financial stocks, including Morgan Stanley, The Goldman Sachs Group, Inc., and S&P Global, Inc., also helped results.
Information technology | Positions in certain mega-cap technology stocks that drove market performance in 2024 —NVIDIA Corp. and Apple, Inc.—contributed positively. Oracle Corp., a beneficiary of AI enthusiasm, was a further contributor of note.
Energy | The fund’s holding in the liquid natural gas producer Cheniere Energy, Inc., produced a strong absolute return in this sector.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | Mobileye Global, Inc., a producer of autonomous vehicle technologies, was the largest detractor. Lennar Corp. and Polaris, Inc. also pressured results.
Healthcare | The biotechnology stock Avantor, Inc. was the most notable detractor, followed by Hologic, Inc. and Moderna, Inc.
Industrials | Regal Rexnord Corp., a manufacturer of electric motors and power transmission components, accounted for the majority of the fund’s negative performance in the sector.


The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
Fundamental All Cap Core ETF (at net asset value) 4.64% 18.36%
Russell 3000 Index 11.40% 22.15%
 
The fund has designated Russell 3000 Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $3,939,542
Total number of portfolio holdings 48
Total advisory fees paid (net) $0
Portfolio turnover rate 34%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Amazon.com, Inc. 7.9%
NVIDIA Corp. 5.9%
Alphabet, Inc., Class A 5.8%
Cheniere Energy, Inc. 4.6%
Workday, Inc., Class A 4.4%
Apple, Inc. 4.4%
iShares Russell 3000 ETF 4.2%
KKR & Company, Inc. 3.9%
First Hawaiian, Inc. 3.6%
Crown Castle, Inc. 3.1%
Sector Composition
Information technology 28.5%
Financials 17.5%
Consumer discretionary 16.1%
Communication services 10.6%
Health care 8.4%
Energy 6.1%
Consumer staples 4.2%
Real estate 3.7%
Industrials 3.5%
Short-term investments and other 1.4%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

977AETF

4/25

6/25

John Hancock Fundamental All Cap Core ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock International High Dividend ETF
International High Dividend ETF/JHID
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock International High Dividend ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
International High Dividend ETF/JHID $49 0.46%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
International High Dividend ETF (JHID) returned 13.84% for the year ended April 30, 2025. International equities delivered strong, double-digit gains in the 12 months ended April 30, 2025, albeit with elevated volatility late in the period in response to shifts in U.S. trade policy. Certain European stocks performed particularly well, reflecting positive sentiment regarding falling interest rates and supportive fiscal policy.
TOP PERFORMANCE CONTRIBUTORS
Financial stocks | Financials made the largest contribution to absolute performance due to their strong return and sizable portfolio weighting. The Italian stocks Poste Italiane SpA and Generali were the leading individual contributors in the sector.
Consumer staples | The U.K.-based tobacco producers British American Tobacco PLC and Imperial Brands PLC were the top contributors in the sector. The British supermarket operator Tesco PLC was also a key contributor.
European stocks | At the country level, Italy and the United Kingdom contributed most on an absolute basis.


TOP PERFORMANCE DETRACTORS
Consumer discretionary | Automotive stocks, which were hurt by sluggish global sales trends and concerns about the impact of U.S. tariffs, were the most notable detractors. The German automakers Volkswagen AG, Bayerische Motoren Werke AG, and Mercedes-Benz Group AG all weighed on fund performance in the period.
Industrials | Japanese companies, including Mitsubishi Corp. and Mitsui & Company, Ltd., were the primary source of weakness in the sector.


The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
International High Dividend ETF (at net asset value) 13.84% 15.91%
MSCI World ex-USA Index 13.10% 14.73%
MSCI World Ex. U.S. High Dividend Yield Index 19.39% 16.73%
 
The fund has designated MSCI World ex-USA Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $8,567,201
Total number of portfolio holdings 100
Total advisory fees paid (net) $0
Portfolio turnover rate 43%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Poste Italiane SpA 2.2%
Imperial Brands PLC 2.1%
Klepierre SA 2.1%
Heidelberg Materials AG 2.1%
NN Group NV 2.1%
SAP SE 2.0%
Engie SA 2.0%
Generali 2.0%
British American Tobacco PLC 2.0%
Banco Bilbao Vizcaya Argentaria SA 1.9%
Sector Composition
Financials 27.0%
Industrials 13.9%
Health care 9.0%
Consumer staples 9.0%
Energy 7.8%
Materials 7.6%
Utilities 6.2%
Information technology 5.9%
Consumer discretionary 5.3%
Real estate 3.9%
Communication services 2.6%
Short-term investments and other 1.8%
Country Composition
Graphical Representation - Allocation 2 Chart
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

955AETF

4/25

6/25

John Hancock International High Dividend ETF
Manulife JH front rebranded logo-TSR and FS
John Hancock U.S. High Dividend ETF
U.S. High Dividend ETF/JHDV
NYSE Arca, Inc.
Annual SHAREHOLDER REPORT | April 30, 2025
This annual shareholder report contains important information about the John Hancock U.S. High Dividend ETF (the fund) for the period of May 1, 2024 to April 30, 2025. You can find additional information about the fund at jhinvestments.com/documents. You can also request this information by contacting us at 800-225-6020.
What were the fund costs during the last year ?
(Based on a hypothetical $10,000 investment)
Fund Costs of a $10,000 investment Costs paid as a percentage
of a $10,000 investment
U.S. High Dividend ETF/JHDV $36 0.34%
Management’s Discussion of Fund Performance
SUMMARY OF RESULTS
U.S. High Dividend ETF (JHDV) returned 9.88% for the year ended April 30, 2025. U.S. dividend-paying stocks posted a gain in the 12 months ended on April 30, 2025, with the bulk of the positive return occurring prior to the new year. During that time, equities were boosted by the combination of falling interest rates and positive economic growth. However, stocks experienced weaker returns and higher volatility from the start of 2025 onward due to concerns about the economic impact of tariffs.
TOP PERFORMANCE CONTRIBUTORS
Information technology stocks | A number of holdings in the sector produced double-digit returns, with the largest contributors to the fund's absolute performance coming from NVIDIA Corp., Apple, Inc., and IBM Corp.
Healthcare | The pharmaceutical stocks Pfizer, Inc., Bristol-Myers Squibb Company, and Eli Lilly & Company accounted for the bulk of the fund’s positive return in the sector.
Other areas of strength | Holdings in the consumer staples, utilities, and real estate sectors, among others, also added to absolute performance. The tobacco stocks Phillip Morris International, Inc. and Altria Group, Inc. were leading contributors in consumer staples.


TOP PERFORMANCE DETRACTORS
Materials | The fund’s holdings in the sector combined for a negative absolute return, largely as a result of positions in the chemical producers LyondellBasell Industries NV and Dow, Inc.
Industrials | United Parcel Service, Inc. lost ground due to lower shipping volumes, and Vertiv Holdings Company—a producer of data center infrastructure—was pressured by reduced enthusiasm for AI in the latter part of the period.


The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. 
Fund Performance
The following graph compares the initial and subsequent account values at the end of each of the most recently completed 10 fiscal years of the fund (or for the life of the fund, if shorter). It assumes a $10,000 initial investment in the fund and in an appropriate, broad-based securities market index for the same period.
GROWTH OF $10,000
Fund Performance - Growth of 10K
AVERAGE ANNUAL TOTAL RETURN 1 Year Since inception
U.S. High Dividend ETF (at net asset value) 9.88% 15.24%
S&P 500 Index 12.10% 19.43%
MSCI USA High Dividend Yield Index 6.41% 10.66%
 
The fund has designated S&P 500 Index as its broad-based securities market index in accordance with the revised definition for such an index.
Performance figures assume all distributions have been reinvested and reflect the beneficial effect of any expense reductions. Past performance does not guarantee future results. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown and can be found at jhinvestments.com/investments or by calling 800-225-6020. The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. It is not possible to invest directly in an index.
Fund Statistics
Fund net assets $7,399,167
Total number of portfolio holdings 83
Total advisory fees paid (net) $0
Portfolio turnover rate 37%
Graphical Representation of Holdings
The tables below show the investment makeup of the fund, representing a percentage of the total net assets of the fund.
Top Ten Holdings
Microsoft Corp. 6.3%
Apple, Inc. 6.2%
NVIDIA Corp. 6.0%
Intuit, Inc. 2.0%
CME Group, Inc. 2.0%
Philip Morris International, Inc. 2.0%
OneMain Holdings, Inc. 2.0%
Altria Group, Inc. 1.9%
Simon Property Group, Inc. 1.9%
Bristol-Myers Squibb Company 1.9%
Sector Composition
Information technology 32.7%
Financials 15.3%
Consumer staples 8.6%
Industrials 8.2%
Health care 8.0%
Consumer discretionary 7.1%
Real estate 6.2%
Communication services 4.3%
Energy 3.1%
Utilities 2.7%
Materials 2.5%
Short-term investments and other 1.3%
Holdings may not have been held by the fund for the entire period and are subject to change without notice. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk and may change at any time.
The fund is subject to various risks as described in the fund's prospectus . For more information, please refer to the "Principal risks" section of the prospectus .
Availability of Additional Information
TSR QR Code
At jhinvestments.com/documents, you can find additional information about the fund, including the fund’s:
  • Prospectus
  • Financial information
  • Fund holdings
  • Proxy voting information
You can also request this information by contacting us at 800-225-6020.
This report is for the information of the shareholders in this fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by the fund's prospectus.
Manulife JH front rebranded logo-TSR and FS
John Hancock ETFs are distributed by Foreside Fund Services, LLC in the United States, and are subadvised by Boston Partners, Dimensional Fund Advisors LP, Marathon Asset Management, or our affiliate Manulife Investment Management (US) LLC. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC, Boston Partners, Dimensional Fund Advisors LP, or Marathon Asset Management. John Hancock Investment Management Distributors LLC, Member FINRA, SIPC, 200 Berkeley Street, Boston, MA 02116-5010, 800-225-6020, jhinvestments.com
Manulife, Manulife Investments, Stylized M Design, and Manulife Investments & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and John Hancock and the Stylized John Hancock Design are trademarks of John Hancock Life Insurance Company (U.S.A.). Each are used by it and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.

966AETF

4/25

6/25

John Hancock U.S. High Dividend ETF

ITEM 2. CODE OF ETHICS.

As of the end of the year, April 30, 2025, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.


ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Frances G. Rathke is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.


ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) Audit Fees

The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to $427,331 and $347,678 for the fiscal years ended April 30, 2025 and April 30, 2024, respectively. These fees were billed to the registrant and were approved by the registrant's audit committee.

(b) Audit-Related Services

Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was related to a software licensing fee. Amounts billed to the registrant were $189 and $157 for fiscal years ended April 30, 2025 and April 30, 2024, respectively.

(c) Tax Fees

The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to $45,026 and $37,599 for the fiscal years ended April 30, 2025 and April 30, 2024, respectively. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.

(d) All Other Fees

The nature of the services comprising all other fees is advisory services provided to the investment manager. Other fees amounted to $0 and $4,801 for the fiscal years ended April 30, 2025 and April 30, 2024, respectively.

(e)(1) Audit Committee Pre-Approval Policies and Procedures

The registrant's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The registrant's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.

All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.

(e)(2) Services approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X

Audit-Related Fees, Tax Fees and All Other Fees

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.

(f) According to the registrant's principal accountant for the fiscal year ended April 30, 2025, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.

(g) The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $976,367 for the fiscal year ended April 30, 2025 and $1,167,486 for the fiscal year ended April 30, 2024.

(h) The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.

(i) Not applicable.

(j) Not applicable.


ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.

The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:

Frances G. Rathke – Chairperson

William H. Cunningham

William K. Bacic - Member of the Audit Committee as of September 24, 2024.


ITEM 6. SCHEDULE OF INVESTMENTS.

(a) Refer to information included in Item 7.

(b) Not applicable.


ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

The Registrant prepared financial statements and financial highlights for the year ended April 30, 2025 for the following funds:

John Hancock Multifactor ETFs

  • John Hancock Multifactor Developed International ETF

  • John Hancock Multifactor Emerging Markets ETF

  • John Hancock Multifactor Large Cap ETF

  • John Hancock Multifactor Mid Cap ETF

  • John Hancock Multifactor Small Cap ETF

John Hancock Active Fixed Income ETFs

  • John Hancock Core Bond ETF

  • John Hancock Core Plus Bond ETF

  • John Hancock Corporate Bond ETF

  • John Hancock Dynamic Municipal Bond ETF

  • John Hancock High Yield ETF

  • John Hancock Mortgage-Backed Securities ETF

  • John Hancock Preferred Income ETF

John Hancock Active Equity ETFs

  • John Hancock Disciplined Value International Select ETF

  • John Hancock Fundamental All Cap Core ETF

  • John Hancock International High Dividend ETF

  • John Hancock U.S. High Dividend ETF


Annual Financial Statements & Other N-CSR Items
John Hancock
Multifactor ETFs
April 30, 2025
John Hancock
Multifactor ETFs
Table of contents
2 Funds’ investments
43 Financial statements
49 Financial highlights
52 Notes to financial statements
63 Report of independent registered public accounting firm
64 Tax information
1 JOHN HANCOCK MULTIFACTOR ETFS |   
Table of Contents
Funds’ investments
MULTIFACTOR DEVELOPED INTERNATIONAL ETF
As of 4-30-25
  Shares or
Principal
Amount 		Value
COMMON STOCKS - 98.5% $669,721,084
(Cost $572,722,292)    
Australia - 6.5% 44,450,222
ANZ Group Holdings, Ltd. 79,977 1,528,035
APA Group 105,309 553,880
Aristocrat Leisure, Ltd. 19,325 826,484
ASX, Ltd. 6,765 306,161
BHP Group, Ltd. 119,473 2,919,427
BlueScope Steel, Ltd. 51,719 789,916
Brambles, Ltd. 110,167 1,446,462
carsales.com, Ltd. 17,613 375,393
Cochlear, Ltd. 5,525 970,723
Coles Group, Ltd. 99,017 1,344,415
Commonwealth Bank of Australia 22,062 2,351,788
Computershare, Ltd. 44,258 1,153,129
CSL, Ltd. 8,156 1,310,551
Fortescue, Ltd. 107,548 1,114,108
Goodman Group 28,781 552,097
Insurance Australia Group, Ltd. 349,692 1,836,991
Macquarie Group, Ltd. 8,805 1,089,874
Medibank Private, Ltd. 252,110 750,104
Mirvac Group 119,341 174,102
National Australia Bank, Ltd. 74,865 1,730,713
Northern Star Resources, Ltd. 141,126 1,731,944
Origin Energy, Ltd. 146,539 997,638
Pro Medicus, Ltd. 3,609 529,758
Qantas Airways, Ltd. 45,379 256,966
QBE Insurance Group, Ltd. 131,673 1,818,979
REA Group, Ltd. (A) 1,669 265,087
Reece, Ltd. (A) 24,656 248,790
Rio Tinto, Ltd. (A) 20,939 1,568,885
Santos, Ltd. 500,529 1,924,784
Scentre Group 159,991 370,580
SEEK, Ltd. (A) 11,485 156,600
SGH, Ltd. 14,432 471,412
Sigma Healthcare, Ltd. 41,398 79,995
Sonic Healthcare, Ltd. 48,650 811,837
South32, Ltd. 222,555 391,605
Stockland 87,015 305,664
Suncorp Group, Ltd. 89,782 1,163,877
Telstra Group, Ltd. 158,889 458,510
The GPT Group 63,294 187,509
The Lottery Corp., Ltd. (A) 170,698 570,134
TPG Telecom, Ltd. (A) 36,327 117,614
Transurban Group 42,142 380,470
Treasury Wine Estates, Ltd. (A) 68,552 392,135
Vicinity, Ltd. 122,100 184,377
Wesfarmers, Ltd. 27,249 1,365,531
Westpac Banking Corp. 99,537 2,091,539
WiseTech Global, Ltd. 8,515 482,286
Woodside Energy Group, Ltd. (A) 90,897 1,206,248
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Australia (continued)  
Woolworths Group, Ltd. (A) 39,362 $795,115
Austria - 0.2% 1,642,872
ANDRITZ AG 2,164 155,098
BAWAG Group AG (B)(C) 2,682 294,968
Erste Group Bank AG 8,346 564,021
OMV AG 6,355 329,128
Raiffeisen Bank International AG 7,253 193,589
Telekom Austria AG 2,566 27,186
Verbund AG 1,025 78,882
Belgium - 1.2% 8,138,607
Ackermans & van Haaren NV 2,517 615,730
Ageas SA/NV 19,659 1,234,692
Anheuser-Busch InBev SA/NV 42,406 2,776,609
D’ieteren Group 654 130,621
KBC Group NV 23,512 2,166,512
Lotus Bakeries NV (A) 25 240,423
Syensqo SA 8,620 613,600
UCB SA 1,389 254,447
Warehouses De Pauw CVA 4,147 105,973
Chile - 0.1% 407,208
Antofagasta PLC 18,669 407,208
Denmark - 2.2% 15,058,310
AP Moller - Maersk A/S, Series A 157 266,870
AP Moller - Maersk A/S, Series B 269 460,321
Carlsberg A/S, Class B 3,370 459,808
Coloplast A/S, B Shares 15,043 1,700,098
Danske Bank A/S 55,169 1,930,152
DSV A/S 6,140 1,299,926
Genmab A/S (C) 2,286 483,979
Novo Nordisk A/S, B Shares 93,758 6,213,452
Novonesis A/S, B Shares 28,025 1,818,832
Orsted A/S (B)(C) 10,655 424,872
Finland - 1.2% 8,006,325
Elisa OYJ 11,199 598,586
Fortum OYJ 5,890 98,725
Kesko OYJ, A Shares 9,583 214,601
Kesko OYJ, B Shares 20,756 476,606
Kone OYJ, Class B 11,630 720,512
Metso Corp. 58,231 632,683
Neste OYJ 13,498 140,488
Nokia OYJ 160,644 801,484
Nordea Bank ABP 149,579 2,070,163
Sampo OYJ, A Shares 49,914 500,331
Stora Enso OYJ, R Shares 69,456 644,739
UPM-Kymmene OYJ 14,982 397,158
Wartsila OYJ ABP 38,426 710,249
France - 12.2% 82,912,206
Air Liquide SA 7,848 1,610,814
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 2
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
France (continued)  
Airbus SE 16,222 $2,713,314
AXA SA 60,497 2,858,767
BNP Paribas SA 75,945 6,413,491
Capgemini SE 15,901 2,527,853
Cie de Saint-Gobain SA 38,811 4,213,307
Credit Agricole SA 123,494 2,314,896
Danone SA 65,925 5,692,460
Dassault Systemes SE 24,255 905,460
Engie SA (A) 134,121 2,772,522
EssilorLuxottica SA 7,124 2,046,417
Hermes International SCA 817 2,220,581
Kering SA (A) 4,675 947,753
Legrand SA 18,162 1,988,176
L’Oreal SA 5,404 2,377,340
LVMH Moet Hennessy Louis Vuitton SE 6,759 3,748,678
Orange SA 353,111 5,131,885
Pernod Ricard SA 14,413 1,560,082
Safran SA 10,814 2,864,225
Sanofi 25,637 2,794,800
Schneider Electric SE 8,115 1,883,689
Societe Generale SA 26,649 1,381,372
Thales SA 9,181 2,555,899
TotalEnergies SE 134,235 7,806,587
Vinci SA 83,104 11,581,838
Germany - 10.0% 67,768,770
adidas AG 9,326 2,138,288
Allianz SE 10,246 4,240,723
BASF SE 96,256 4,883,370
Bayerische Motoren Werke AG 17,107 1,444,866
Beiersdorf AG 4,825 680,117
Commerzbank AG 37,551 991,171
Daimler Truck Holding AG 74,539 2,979,184
Deutsche Bank AG 179,604 4,691,708
Deutsche Boerse AG 6,299 2,029,970
Deutsche Telekom AG 158,422 5,690,724
DHL Group 98,631 4,205,575
E.ON SE 220,618 3,865,889
Hannover Rueck SE 6,428 2,063,505
Hapag-Lloyd AG (B) 2,885 451,918
Heidelberg Materials AG 10,264 2,033,079
Henkel AG & Company KGaA 7,553 533,183
Infineon Technologies AG 50,148 1,646,896
Mercedes-Benz Group AG 53,105 3,167,462
Merck KGaA 1,717 237,924
Muenchener Rueckversicherungs-Gesellschaft AG 6,930 4,739,210
Rheinmetall AG 1,332 2,269,712
RWE AG 28,972 1,126,340
SAP SE 13,636 3,957,334
Siemens AG 10,328 2,370,964
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Germany (continued)  
Siemens Energy AG (C) 25,126 $1,929,076
Siemens Healthineers AG (B) 6,025 324,502
Talanx AG 7,027 805,983
Volkswagen AG 2,093 232,806
Vonovia SE 61,293 2,037,291
Hong Kong - 1.7% 11,486,216
AIA Group, Ltd. 358,324 2,684,646
BOC Hong Kong Holdings, Ltd. 108,795 451,752
Budweiser Brewing Company APAC, Ltd. (A)(B) 24,600 26,076
CK Asset Holdings, Ltd. 142,469 583,310
CK Hutchison Holdings, Ltd. 151,273 854,418
CK Infrastructure Holdings, Ltd. 33,929 228,827
CLP Holdings, Ltd. 92,571 791,450
Galaxy Entertainment Group, Ltd. 29,641 107,790
Hang Seng Bank, Ltd. 23,689 330,834
Henderson Land Development Company, Ltd. 111,398 316,035
Hong Kong & China Gas Company, Ltd. 691,065 622,918
Hong Kong Exchanges & Clearing, Ltd. 21,600 949,267
Link REIT 80,036 375,167
MTR Corp., Ltd. 80,413 277,905
Power Assets Holdings, Ltd. 115,573 765,300
Prudential PLC 116,913 1,236,481
Sun Hung Kai Properties, Ltd. 46,162 438,422
Techtronic Industries Company, Ltd. 44,077 445,618
Ireland - 0.8% 5,302,352
AIB Group PLC 100,651 676,765
Bank of Ireland Group PLC 67,723 794,861
Experian PLC 51,281 2,544,628
James Hardie Industries PLC, CHESS Depositary Interest (C) 25,069 593,495
Kerry Group PLC, Class A 2,044 216,668
Kingspan Group PLC 5,635 475,935
Israel - 0.6% 3,981,640
Azrieli Group, Ltd. 747 54,356
Bank Hapoalim BM 57,487 841,994
Bank Leumi Le-Israel BM 79,571 1,129,372
CyberArk Software, Ltd. (C) 412 145,090
Elbit Systems, Ltd. 307 117,872
ICL Group, Ltd. 24,750 164,182
Israel Discount Bank, Ltd., Class A 39,171 292,245
Mizrahi Tefahot Bank, Ltd. 8,935 452,514
Nice, Ltd. (C) 809 126,384
Teva Pharmaceutical Industries, Ltd. (C) 35,406 533,661
Wix.com, Ltd. (C) 731 123,970
Italy - 3.0% 20,307,999
Banco BPM SpA 104,561 1,164,112
BPER Banca SpA (A) 47,223 383,173
Enel SpA 204,699 1,778,694
Eni SpA 144,639 2,088,113
3 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Italy (continued)  
Ferrari NV 3,812 $1,740,249
FinecoBank SpA 48,406 966,523
Generali 14,458 528,225
Intesa Sanpaolo SpA 443,178 2,358,710
Leonardo SpA 4,751 247,352
Mediobanca Banca di Credito Finanziario SpA (A) 69,777 1,426,552
Moncler SpA 16,542 1,016,174
Poste Italiane SpA (B) 24,048 487,684
PRADA SpA 40,100 250,796
Prysmian SpA (A) 12,756 695,148
Recordati Industria Chimica e Farmaceutica SpA 6,993 412,171
Snam SpA 83,227 478,718
Terna - Rete Elettrica Nazionale 74,322 740,769
UniCredit SpA 61,181 3,544,836
Japan - 22.1% 150,144,610
Advantest Corp. 25,600 1,052,249
Aeon Company, Ltd. (A) 19,900 589,717
AGC, Inc. 22,500 702,415
Aisin Corp. 52,800 670,550
Ajinomoto Company, Inc. 27,800 568,317
ANA Holdings, Inc. 23,100 443,085
Asahi Group Holdings, Ltd. 32,600 450,810
Asahi Kasei Corp. 155,600 1,084,313
Asics Corp. 49,700 1,074,557
Astellas Pharma, Inc. 30,900 309,238
Bandai Namco Holdings, Inc. 18,603 645,445
Bridgestone Corp. 32,600 1,369,227
Canon, Inc. (A) 12,200 376,674
Capcom Company, Ltd. 25,300 734,133
Central Japan Railway Company 24,120 495,623
Chubu Electric Power Company, Inc. 54,000 701,122
Chugai Pharmaceutical Company, Ltd. 14,600 841,261
Concordia Financial Group, Ltd. 85,700 551,667
Dai Nippon Printing Company, Ltd. 42,548 593,894
Daifuku Company, Ltd. 22,700 602,670
Dai-ichi Life Holdings, Inc. 153,400 1,101,783
Daiichi Sankyo Company, Ltd. 21,100 539,038
Daikin Industries, Ltd. 6,247 713,649
Daito Trust Construction Company, Ltd. 4,686 521,032
Daiwa House Industry Company, Ltd. 32,400 1,170,934
Daiwa Securities Group, Inc. 107,400 703,401
Denso Corp. 46,200 598,391
Dentsu Group, Inc. (A) 21,000 437,844
Disco Corp. 3,094 599,105
East Japan Railway Company 52,900 1,148,194
Ebara Corp. 18,000 271,565
Eisai Company, Ltd. 3,572 103,123
ENEOS Holdings, Inc. 314,800 1,513,750
FANUC Corp. 11,150 285,629
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Fast Retailing Company, Ltd. 4,657 $1,533,832
Fuji Electric Company, Ltd. 14,093 624,720
FUJIFILM Holdings Corp. 32,700 672,959
Fujikura, Ltd. 16,900 621,665
Fujitsu, Ltd. 37,300 823,979
Hankyu Hanshin Holdings, Inc. 22,800 650,241
Hikari Tsushin, Inc. 1,141 316,607
Hitachi Construction Machinery Company, Ltd. 14,900 443,323
Hitachi, Ltd. 128,800 3,176,657
Honda Motor Company, Ltd. 151,362 1,541,847
Hoya Corp. 11,200 1,317,555
Hulic Company, Ltd. 55,600 580,986
Idemitsu Kosan Company, Ltd. 101,795 631,223
IHI Corp. 4,400 343,943
Inpex Corp. 74,500 944,830
Isuzu Motors, Ltd. 95,700 1,292,527
ITOCHU Corp. 18,200 929,139
Japan Airlines Company, Ltd. 20,100 363,770
Japan Exchange Group, Inc. 72,600 810,286
Japan Post Bank Company, Ltd. 30,700 314,447
Japan Post Holdings Company, Ltd. 45,300 439,852
Japan Post Insurance Company, Ltd. 13,400 268,629
Japan Real Estate Investment Corp. 220 174,748
Japan Tobacco, Inc. 36,400 1,124,613
JFE Holdings, Inc. 66,800 777,398
Kajima Corp. 40,600 969,743
Kao Corp. 9,400 402,452
Kawasaki Heavy Industries, Ltd. 5,400 320,616
Kawasaki Kisen Kaisha, Ltd. 28,900 395,086
KDDI Corp. 89,500 1,583,379
Keisei Electric Railway Company, Ltd. 19,500 202,122
Keyence Corp. 2,570 1,078,160
Kikkoman Corp. 15,900 155,556
Kirin Holdings Company, Ltd. 55,600 841,562
Kobe Bussan Company, Ltd. 10,500 322,862
Komatsu, Ltd. 52,000 1,495,036
Konami Group Corp. 7,500 1,070,001
Kubota Corp. 26,100 302,463
Kyocera Corp. 37,200 441,268
Kyowa Kirin Company, Ltd. 7,400 115,430
Lasertec Corp. 2,500 232,929
LY Corp. 58,800 222,520
M3, Inc. (A) 11,500 144,032
Makita Corp. 18,100 530,666
Marubeni Corp. 50,300 891,464
MatsukiyoCocokara & Company 11,400 209,914
MEIJI Holdings Company, Ltd. 25,200 620,813
MINEBEA MITSUMI, Inc. 56,700 832,374
Mitsubishi Chemical Group Corp. 209,600 1,015,379
Mitsubishi Corp. 105,900 2,013,466
Mitsubishi Electric Corp. 42,600 824,434
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 4
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Mitsubishi Estate Company, Ltd. 24,800 $435,530
Mitsubishi HC Capital, Inc. 141,200 996,339
Mitsubishi Heavy Industries, Ltd. 49,700 974,383
Mitsubishi UFJ Financial Group, Inc. 271,870 3,437,448
Mitsui & Company, Ltd. 81,800 1,661,921
Mitsui Fudosan Company, Ltd. 58,600 578,852
Mitsui O.S.K. Lines, Ltd. 27,500 913,646
Mizuho Financial Group, Inc. 55,000 1,380,398
MonotaRO Company, Ltd. 17,200 331,423
MS&AD Insurance Group Holdings, Inc. 54,400 1,237,577
Murata Manufacturing Company, Ltd. 24,900 386,488
NEC Corp. 16,115 392,707
Nexon Company, Ltd. 9,500 149,520
Nidec Corp. 11,800 209,544
Nintendo Company, Ltd. 15,670 1,299,608
Nippon Building Fund, Inc. 218 202,656
Nippon Paint Holdings Company, Ltd. 11,400 86,715
Nippon Sanso Holdings Corp. (A) 17,400 556,863
Nippon Steel Corp. 29,700 626,732
Nippon Telegraph & Telephone Corp. 1,345,350 1,408,166
Nippon Yusen KK 33,500 1,092,085
Nissan Motor Company, Ltd. (A)(C) 133,000 318,421
Nissin Foods Holdings Company, Ltd. 7,948 175,464
Nitori Holdings Company, Ltd. 4,101 490,918
Nitto Denko Corp. 83,570 1,464,994
Nomura Holdings, Inc. 88,800 492,559
Nomura Research Institute, Ltd. 13,500 510,320
NTT Data Group Corp. 19,500 386,541
Obayashi Corp. 58,800 913,700
Obic Company, Ltd. 15,600 545,847
Olympus Corp. 47,300 618,607
Omron Corp. 4,700 139,379
Ono Pharmaceutical Company, Ltd. (A) 8,465 97,445
Oracle Corp. Japan 2,600 312,696
Oriental Land Company, Ltd. (A) 21,100 448,656
ORIX Corp. 35,200 703,556
Osaka Gas Company, Ltd. 46,800 1,186,733
Otsuka Corp. 16,600 369,031
Otsuka Holdings Company, Ltd. 16,600 809,634
Pan Pacific International Holdings Corp. 28,300 874,951
Panasonic Holdings Corp. 71,804 826,068
Rakuten Group, Inc. (C) 76,000 447,294
Recruit Holdings Company, Ltd. 29,000 1,614,680
Renesas Electronics Corp. 33,500 392,798
Resona Holdings, Inc. 75,700 604,475
Ricoh Company, Ltd. 43,900 463,498
Sanrio Company, Ltd. 7,400 294,879
SBI Holdings, Inc. 25,800 676,291
SCREEN Holdings Company, Ltd. 3,400 225,586
SCSK Corp. 9,000 236,168
Secom Company, Ltd. 12,922 475,425
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Seiko Epson Corp. 32,200 $449,003
Sekisui Chemical Company, Ltd. 44,100 769,524
Sekisui House, Ltd. 44,200 1,015,137
Seven & i Holdings Company, Ltd. 123,800 1,835,215
SG Holdings Company, Ltd. 21,100 222,553
Shimadzu Corp. 13,300 342,011
Shimano, Inc. 2,186 309,341
Shin-Etsu Chemical Company, Ltd. 43,190 1,311,082
Shionogi & Company, Ltd. 41,113 690,020
Shiseido Company, Ltd. 5,577 92,018
SMC Corp. 745 242,710
SoftBank Corp. 637,900 965,526
SoftBank Group Corp. 45,536 2,287,016
Sompo Holdings, Inc. 45,800 1,491,454
Sony Group Corp. 138,800 3,669,481
Subaru Corp. 78,900 1,434,017
Sumitomo Corp. 33,000 809,268
Sumitomo Electric Industries, Ltd. 59,100 948,401
Sumitomo Forestry Company, Ltd. 14,700 423,357
Sumitomo Metal Mining Company, Ltd. 30,000 669,027
Sumitomo Mitsui Financial Group, Inc. 103,600 2,469,434
Sumitomo Mitsui Trust Group, Inc. 21,150 522,671
Sumitomo Realty & Development Company, Ltd. 22,100 821,158
Suntory Beverage & Food, Ltd. (A) 9,500 332,207
Suzuki Motor Corp. 94,300 1,128,837
Sysmex Corp. 33,444 621,682
T&D Holdings, Inc. 43,200 917,970
Taisei Corp. 18,161 986,097
Takeda Pharmaceutical Company, Ltd. 47,247 1,435,230
TDK Corp. 83,400 889,604
Terumo Corp. 17,700 339,879
The Chiba Bank, Ltd. 59,400 525,122
The Kansai Electric Power Company, Inc. 115,500 1,421,078
TIS, Inc. 14,400 417,039
Toho Company, Ltd. 4,600 263,152
Tokio Marine Holdings, Inc. 54,200 2,168,912
Tokyo Century Corp. 23,300 245,512
Tokyo Electron, Ltd. 10,271 1,528,337
Tokyo Gas Company, Ltd. 66,200 2,201,252
Tokyu Corp. 37,900 461,793
TOPPAN Holdings, Inc. 23,800 667,248
Toray Industries, Inc. 151,800 967,693
Toyo Suisan Kaisha, Ltd. 1,500 96,957
Toyota Industries Corp. 4,900 575,743
Toyota Motor Corp. 296,340 5,669,601
Toyota Tsusho Corp. 36,500 722,886
Trend Micro, Inc. 10,000 717,190
Unicharm Corp. 35,000 325,242
West Japan Railway Company 65,262 1,370,758
Yakult Honsha Company, Ltd. 9,000 185,029
5 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Yamaha Motor Company, Ltd. 152,800 $1,201,918
Yaskawa Electric Corp. 12,600 266,504
Zensho Holdings Company, Ltd. 6,100 379,283
ZOZO, Inc. 32,600 332,308
Luxembourg - 0.3% 2,114,897
ArcelorMittal SA 53,120 1,565,157
CVC Capital Partners PLC (A)(B)(C) 12,895 228,964
Tenaris SA 19,216 320,776
Macau - 0.0% 51,199
Sands China, Ltd. (C) 28,400 51,199
Netherlands - 3.9% 26,848,345
Adyen NV (B)(C) 604 973,457
Argenx SE (C) 526 339,624
Argenx SE, Additional Offering (C) 21 13,559
ASM International NV 3,999 1,933,355
ASML Holding NV 9,837 6,513,636
Ferrovial SE 26,356 1,284,693
Heineken Holding NV 10,699 836,752
Heineken NV 6,333 566,564
ING Groep NV 104,447 2,020,074
Koninklijke Ahold Delhaize NV 67,110 2,757,022
Koninklijke Philips NV (A)(C) 57,290 1,452,925
Prosus NV (C) 35,146 1,635,044
Stellantis NV (A) 158,917 1,470,482
Universal Music Group NV 34,252 1,006,494
Wolters Kluwer NV 22,889 4,044,664
New Zealand - 0.2% 1,691,228
Auckland International Airport, Ltd. 33,379 148,962
Fisher & Paykel Healthcare Corp., Ltd. 13,579 273,988
Fonterra Co-operative Group, Ltd. 322 1,041
Infratil, Ltd. (A) 23,282 145,766
Mercury NZ, Ltd. 14,149 46,854
Meridian Energy, Ltd. 30,492 99,163
Xero, Ltd. (C) 9,285 975,454
Norway - 0.5% 3,082,571
Aker BP ASA 23,816 512,609
DNB Bank ASA 20,444 510,215
Equinor ASA 32,751 751,350
Gjensidige Forsikring ASA 2,177 50,930
Kongsberg Gruppen ASA 1,450 233,232
Mowi ASA 5,733 105,096
Norsk Hydro ASA 37,844 199,257
Orkla ASA 8,600 95,869
Salmar ASA 808 39,933
Schibsted ASA, A Shares 1,244 37,860
Schibsted ASA, B Shares 1,435 41,376
Telenor ASA 19,013 286,388
Var Energi ASA 15,948 43,938
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Norway (continued)  
Yara International ASA 5,399 $174,518
Portugal - 0.1% 927,417
Banco Comercial Portugues SA 244,635 156,786
EDP SA 81,406 321,663
Galp Energia SGPS SA 14,725 228,231
Jeronimo Martins SGPS SA 9,108 220,737
Singapore - 1.8% 12,300,485
CapitaLand Ascendas REIT 105,992 215,929
CapitaLand Integrated Commercial Trust 184,968 304,573
CapitaLand Investment, Ltd. 102,100 215,038
DBS Group Holdings, Ltd. 71,613 2,328,231
Grab Holdings, Ltd., Class A (C) 71,064 346,792
Keppel, Ltd. 136,600 686,295
Oversea-Chinese Banking Corp., Ltd. 133,068 1,645,897
Sea, Ltd., ADR (C) 4,572 612,877
Sembcorp Industries, Ltd. 45,000 227,464
Singapore Airlines, Ltd. (A) 288,200 1,481,062
Singapore Exchange, Ltd. 88,500 973,317
Singapore Technologies Engineering, Ltd. 109,100 619,155
Singapore Telecommunications, Ltd. 110,700 320,476
United Overseas Bank, Ltd. 78,124 2,072,617
Wilmar International, Ltd. 107,000 250,762
Spain - 3.3% 22,245,122
Aena SME SA (A)(B) 4,623 1,163,500
Amadeus IT Group SA 31,332 2,463,960
Banco Bilbao Vizcaya Argentaria SA 355,019 4,867,028
Banco Santander SA (A) 462,005 3,246,688
CaixaBank SA (A) 115,274 882,146
Cellnex Telecom SA (B)(C) 26,841 1,087,430
EDP Renovaveis SA (A) 1,852 17,379
Endesa SA 13,398 403,600
Iberdrola SA 86,327 1,559,811
Industria de Diseno Textil SA (A) 38,270 2,055,101
Naturgy Energy Group SA (A) 16,552 493,718
Telefonica SA (A) 779,768 4,004,761
Sweden - 2.9% 19,794,990
AAK AB 7,855 205,560
AddTech AB, B Shares 15,252 513,307
Alfa Laval AB (A) 5,781 239,814
Assa Abloy AB, B Shares (A) 15,572 470,798
Atlas Copco AB, A Shares (A) 87,257 1,355,687
Atlas Copco AB, B Shares (A) 48,687 678,697
Beijer Ref AB (A) 15,568 237,598
Boliden AB (C) 24,311 746,352
Castellum AB (A)(C) 27,358 332,015
Epiroc AB, A Shares 20,713 448,411
Epiroc AB, B Shares 12,316 241,598
EQT AB (A) 5,252 151,272
Essity AB, B Shares 14,087 406,621
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 6
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Sweden (continued)  
Evolution AB (A)(B) 4,137 $289,186
Fastighets AB Balder, B Shares (C) 48,955 351,241
Getinge AB, B Shares (A) 10,348 199,774
Hennes & Mauritz AB, B Shares (A) 21,845 317,203
Hexagon AB, B Shares (A) 43,994 427,310
Holmen AB, B Shares 7,062 280,140
Indutrade AB 13,685 370,045
Lifco AB, B Shares (A) 6,757 261,876
Nibe Industrier AB, B Shares (A) 17,887 75,629
Saab AB, B Shares 3,916 181,855
Sagax AB, B Shares 14,689 333,837
Sandvik AB (A) 47,396 983,311
Securitas AB, B Shares (A) 16,461 261,979
Skandinaviska Enskilda Banken AB, A Shares 41,825 661,098
Skandinaviska Enskilda Banken AB, C Shares 439 7,410
Skanska AB, B Shares 40,274 934,934
SKF AB, B Shares 41,232 810,327
Svenska Cellulosa AB SCA, B Shares 38,979 506,389
Svenska Handelsbanken AB, A Shares 48,308 632,844
Svenska Handelsbanken AB, B Shares (A) 2,241 44,054
Swedbank AB, A Shares 31,214 776,394
Swedish Orphan Biovitrum AB (C) 6,466 196,429
Tele2 AB, B Shares 58,164 857,845
Telefonaktiebolaget LM Ericsson, B Shares 146,685 1,237,672
Telia Company AB 113,319 424,730
Trelleborg AB, B Shares 19,749 681,445
Volvo AB, A Shares 14,083 384,311
Volvo AB, B Shares 45,619 1,242,061
Volvo Car AB, B Shares (A)(C) 21,086 35,931
Switzerland - 9.4% 64,061,784
ABB, Ltd. 22,032 1,157,970
Alcon, Inc. 39,354 3,814,955
Chocoladefabriken Lindt & Spruengli AG 6 852,814
Cie Financiere Richemont SA, A Shares 11,200 1,979,678
Coca-Cola HBC AG (C) 14,126 735,856
DSM-Firmenich AG 13,095 1,418,909
Galderma Group AG 2,158 251,843
Givaudan SA 382 1,851,079
Glencore PLC (C) 385,084 1,257,088
Holcim, Ltd. (C) 43,687 4,869,765
Kuehne + Nagel International AG (A) 4,886 1,122,873
Lonza Group AG 4,667 3,342,861
Nestle SA 58,434 6,239,123
Novartis AG 91,823 10,480,169
Partners Group Holding AG 2,043 2,673,862
Roche Holding AG 15,863 5,198,547
Roche Holding AG, Bearer Shares 1,070 374,484
Schindler Holding AG 1,195 424,630
Schindler Holding AG, Participation Certificates 1,972 721,847
Sika AG 7,970 1,996,016
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Switzerland (continued)  
Straumann Holding AG 5,622 $688,597
Swiss Re AG 26,431 4,752,273
Swisscom AG 2,952 1,975,783
UBS Group AG 93,633 2,836,052
Zurich Insurance Group AG 4,296 3,044,710
United Arab Emirates - 0.0% 0
NMC Health PLC (C)(D) 5,181 0
United Kingdom - 14.2% 96,279,083
3i Group PLC 54,324 3,072,215
Admiral Group PLC 26,400 1,148,852
Anglo American PLC 81,489 2,208,462
Ashtead Group PLC 36,708 1,956,332
Associated British Foods PLC 27,517 758,612
AstraZeneca PLC 32,776 4,696,601
Aviva PLC 225,386 1,685,869
BAE Systems PLC 36,716 850,626
Barclays PLC 525,769 2,084,337
BP PLC 942,348 4,409,207
British American Tobacco PLC 65,455 2,839,670
BT Group PLC (A) 1,266,042 2,939,049
Bunzl PLC 19,697 618,268
Centrica PLC 607,530 1,299,582
Coca-Cola Europacific Partners PLC (A) 7,066 636,156
Compass Group PLC 37,786 1,270,854
Diageo PLC 64,336 1,797,731
GSK PLC 93,757 1,857,806
Haleon PLC 299,885 1,507,694
Halma PLC 20,289 746,877
HSBC Holdings PLC 469,302 5,215,365
Imperial Brands PLC 74,508 3,059,256
Informa PLC 119,069 1,157,497
InterContinental Hotels Group PLC 6,527 692,393
Intertek Group PLC 12,619 772,642
Legal & General Group PLC 481,104 1,506,922
Lloyds Banking Group PLC 2,128,946 2,083,815
London Stock Exchange Group PLC 6,944 1,078,231
Melrose Industries PLC 67,582 391,408
National Grid PLC 149,129 2,157,245
NatWest Group PLC 261,495 1,670,252
Next PLC 14,090 2,320,508
Pearson PLC 34,993 559,246
Reckitt Benckiser Group PLC 30,214 1,952,464
RELX PLC 55,714 3,026,548
Rentokil Initial PLC 138,765 635,004
Rio Tinto PLC 31,928 1,896,478
Rolls-Royce Holdings PLC 133,248 1,342,320
Segro PLC 39,518 359,249
Severn Trent PLC 15,464 576,282
Shell PLC 276,117 9,000,797
Smith & Nephew PLC 30,054 423,109
7 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
United Kingdom (continued)  
SSE PLC 83,858 $1,895,195
Standard Chartered PLC 234,532 3,370,725
Tesco PLC 558,505 2,765,404
The Sage Group PLC 72,767 1,202,787
Unilever PLC 62,599 3,979,166
Vodafone Group PLC 1,579,544 1,545,637
Wise PLC, Class A (C) 18,817 245,935
WPP PLC 131,544 1,012,403
United States - 0.1% 716,626
Carnival PLC (C) 4,758 79,473
Flutter Entertainment PLC (C) 2,656 637,153
PREFERRED SECURITIES - 0.4% $2,527,746
(Cost $3,041,378)    
Germany - 0.4% 2,527,746
Bayerische Motoren Werke AG 3,648 292,976
Dr. Ing. h.c. F. Porsche AG (B) 1,639 82,146
Henkel AG & Company KGaA 13,298 1,033,969
Volkswagen AG 10,311 1,118,655
RIGHTS - 0.0% $189
(Cost $177)    
EDP Renovaveis SA (Expiration Date: 5-7-25) (A)(C)(E) 1,852 189
SHORT-TERM INVESTMENTS - 2.6% $17,474,898
(Cost $17,473,431)    
Short-term funds - 2.6% 17,474,898
John Hancock Collateral Trust, 4.2081% (F)(G) 1,655,862 16,563,914
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2762% (F) 910,984 910,984
Total investments (Multifactor Developed International ETF) (Cost $593,237,278) - 101.5% $689,723,917
Other assets and liabilities, net - (1.5%) (10,046,745)
Total net assets - 100.0% $679,677,172
    
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) All or a portion of this security is on loan as of 4-30-25.
(B) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(C) Non-income producing security.
(D) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(E) Strike price and/or expiration date not available.
(F) The rate shown is the annualized seven-day yield as of 4-30-25.
(G) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
The fund had the following sector composition as a percentage of net assets on 4-30-25:
Financials 23.2%
Industrials 18.6%
Consumer discretionary 9.7%
Health care 9.1%
Consumer staples 8.6%
Materials 7.2%
Communication services 6.0%
Information technology 5.6%
Energy 4.7%
Utilities 4.4%
Real estate 1.8%
Short-term investments and other 1.1%
TOTAL 100.0%
DERIVATIVES
FUTURES
Open contracts Number of
contracts 		Position Expiration
date 		Notional
basis^ 		Notional
value^ 		Unrealized
appreciation
(depreciation)
S&P 500 E-Mini Index Futures 3 Long Jun 2025 $829,382 $838,050 $8,668
            $8,668
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
See Notes to financial statements regarding investment transactions and other derivatives information.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 8
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF
As of 4-30-25
  Shares or
Principal
Amount 		Value
COMMON STOCKS - 99.5% $574,139,912
(Cost $465,827,342)    
Brazil - 3.2% 18,337,567
Ambev SA 236,900 609,678
B3 SA - Brasil Bolsa Balcao 334,900 798,001
Banco Bradesco SA 138,105 298,340
Banco BTG Pactual SA 54,248 365,173
Banco do Brasil SA 167,800 857,465
BB Seguridade Participacoes SA 91,600 692,008
BRF SA 38,200 153,167
Caixa Seguridade Participacoes S/A 31,600 91,316
CCR SA 82,500 195,998
Centrais Eletricas Brasileiras SA 57,237 444,336
Cia de Saneamento Basico do Estado de Sao Paulo 35,000 704,093
Cia Energetica de Minas Gerais 39,578 106,541
Cia Paranaense de Energia 33,000 60,854
CPFL Energia SA 27,600 186,181
Embraer SA (A) 24,800 284,385
Energisa SA 19,202 155,817
Engie Brasil Energia SA 37,125 272,598
Equatorial Energia SA 77,203 501,968
JBS SA 101,600 791,064
Klabin SA 88,710 290,352
Localiza Rent a Car SA 69,811 529,742
Neoenergia SA 14,700 59,461
Petroleo Brasileiro SA 469,900 2,660,172
Porto Seguro SA 3,200 24,865
PRIO SA (A) 65,500 390,010
Raia Drogasil SA 149,672 524,516
Rede D’Or Sao Luiz SA (B) 51,036 288,652
Rumo SA 91,690 314,195
Suzano SA 75,265 665,784
Telefonica Brasil SA 105,000 515,411
TIM SA 116,700 390,622
Vale SA 336,500 3,141,871
Vibra Energia SA 66,700 221,493
WEG SA 95,300 751,438
Chile - 0.4% 2,439,963
Banco de Chile 2,986,762 434,082
Banco de Credito e Inversiones SA 7,474 293,049
Banco Santander Chile 3,625,729 217,033
Cencosud SA 67,203 227,661
Cia Sud Americana de Vapores SA 1,279,776 69,983
Empresas CMPC SA 139,335 216,343
Empresas COPEC SA 32,209 218,900
Enel Americas SA 1,880,091 182,778
Enel Chile SA 3,544,751 248,323
Falabella SA 55,423 249,158
Latam Airlines Group SA 5,287,621 82,653
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China - 23.7% $136,587,707
360 Security Technology, Inc., Class A 24,600 34,650
Agricultural Bank of China, Ltd., H Shares 2,951,000 1,803,776
Aier Eye Hospital Group Company, Ltd., A Shares 73,643 131,614
Alibaba Group Holding, Ltd. 1,035,700 15,693,031
Aluminum Corp. of China, Ltd., H Shares 646,000 347,379
Anhui Conch Cement Company, Ltd., H Shares 172,500 487,156
Anhui Gujing Distillery Company, Ltd., A Shares 2,671 60,457
Anhui Jianghuai Automobile Group Corp., Ltd., Class A 3,300 16,557
ANTA Sports Products, Ltd. 164,400 1,949,344
Avary Holding Shenzhen Company, Ltd., A Shares 6,500 25,569
Bank of Beijing Company, Ltd., Class A 123,100 101,696
Bank of Chengdu Company, Ltd., Class A 19,900 46,525
Bank of China, Ltd., H Shares 6,489,000 3,631,638
Bank of Communications Company, Ltd., H Shares 2,166,000 1,899,338
Bank of Hangzhou Company, Ltd., A Shares 40,400 81,770
Bank of Jiangsu Company, Ltd., Class A 113,500 158,776
Bank of Nanjing Company, Ltd., Class A 66,100 94,834
Bank of Ningbo Company, Ltd., A Shares 57,915 190,583
Bank of Shanghai Company, Ltd., A Shares 104,000 148,637
Baoshan Iron & Steel Company, Ltd., A Shares 177,400 167,073
Beijing Kingsoft Office Software, Inc., Class A 1,215 49,048
Beijing Wantai Biological Pharmacy Enterprise Company, Ltd., Class A 1,960 17,652
Beijing-Shanghai High Speed Railway Company, Ltd., A Shares 151,000 120,795
BOE Technology Group Company, Ltd., A Shares 323,600 171,094
BYD Company, Ltd., H Shares 98,500 4,702,271
BYD Electronic International Company, Ltd. (C) 86,500 360,291
Cambricon Technologies Corp. Ltd., Class A (A) 1,017 98,524
Chaozhou Three-Circle Group Company, Ltd., Class A 4,500 21,258
China CITIC Bank Corp., Ltd., H Shares 1,317,000 1,041,073
China Coal Energy Company, Ltd., H Shares 293,000 302,646
China Construction Bank Corp., H Shares 7,100,000 5,841,361
China Eastern Airlines Corp., Ltd., H Shares (A) 220,000 65,818
China Energy Engineering Corp., Ltd., H Shares 604,000 77,109
China Everbright Bank Company, Ltd., H Shares 473,000 205,554
China Galaxy Securities Company, Ltd., H Shares 326,000 295,955
China Hongqiao Group, Ltd. (C) 321,500 578,764
China Life Insurance Company, Ltd., H Shares 754,000 1,380,685
China Longyuan Power Group Corp., Ltd., H Shares 482,000 381,637
China Mengniu Dairy Company, Ltd. 288,000 721,235
China Merchants Bank Company, Ltd., H Shares 346,500 1,896,776
China Merchants Expressway Network & Technology Holdings Company, Ltd., A Shares 22,900 40,454
9 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
China Merchants Securities Company, Ltd., H Shares (B)(C) 81,540 $123,866
China Merchants Shekou Industrial Zone Holdings Company, Ltd., A Shares 39,300 49,512
China Minsheng Banking Corp., Ltd., H Shares 902,500 423,627
China Northern Rare Earth Group High-Tech Company, Ltd., Class A 18,100 58,042
China Pacific Insurance Group Company, Ltd., H Shares 360,400 980,623
China Petroleum & Chemical Corp., H Shares 2,502,000 1,280,893
China Resources Microelectronics, Ltd., Class A 3,370 21,377
China Resources Mixc Lifestyle Services, Ltd. (B) 32,000 153,920
China Shenhua Energy Company, Ltd., H Shares 397,500 1,496,770
China Southern Airlines Company, Ltd., H Shares (A) 222,000 91,609
China Tourism Group Duty Free Corp., Ltd., H Shares (B) 8,200 55,885
China Tower Corp., Ltd., H Shares (B) 797,300 1,155,641
China Vanke Company, Ltd., H Shares (A)(C) 283,472 195,569
China Zheshang Bank Company, Ltd., H Shares 99,700 33,685
CITIC Securities Company, Ltd., H Shares 147,250 365,718
CITIC, Ltd. 678,000 827,970
CMOC Group, Ltd., H Shares 516,000 405,896
Contemporary Amperex Technology Company, Ltd., A Shares 20,660 658,533
COSCO SHIPPING Holdings Company, Ltd., H Shares (C) 468,699 707,155
CSC Financial Company, Ltd., H Shares (B)(C) 120,000 135,866
Daqin Railway Company, Ltd., Class A 84,700 75,687
East Money Information Company, Ltd., A Shares 54,906 155,507
ENN Natural Gas Company, Ltd., Class A 15,100 41,083
Eve Energy Company, Ltd., A Shares 9,800 55,431
Everbright Securities Company, Ltd., H Shares (B) 21,200 18,481
Focus Media Information Technology Company, Ltd., A Shares 48,700 48,279
Foshan Haitian Flavouring & Food Company, Ltd., Class A 20,364 117,539
Founder Securities Company, Ltd., A Shares 17,100 17,541
Foxconn Industrial Internet Company, Ltd., Class A 64,900 161,383
Fuyao Glass Industry Group Company, Ltd. , H Shares (B) 101,200 715,801
Ganfeng Lithium Group Company, Ltd., H Shares (B)(C) 24,800 60,571
GD Power Development Company, Ltd., Class A 153,100 94,228
GF Securities Company, Ltd., H Shares 129,600 169,130
GigaDevice Semiconductor, Inc., Class A (A) 2,000 35,438
GoerTek, Inc., A Shares 33,500 97,694
Great Wall Motor Company, Ltd., H Shares 270,500 387,889
Gree Electric Appliances, Inc. of Zhuhai, A Shares 55,000 345,018
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Guangdong Haid Group Company, Ltd., A Shares 11,500 $87,848
Guangzhou Automobile Group Company, Ltd., H Shares (C) 274,000 97,167
Guosen Securities Company, Ltd., Class A 34,100 51,036
Guotai Haitong Securities Company, Ltd., H Shares (B) 87,656 125,244
H World Group, Ltd. 155,500 549,435
Haidilao International Holding, Ltd. (B) 101,000 229,489
Haier Smart Home Company, Ltd., H Shares 334,000 971,243
Hansoh Pharmaceutical Group Company, Ltd. (B) 96,000 298,348
Henan Shuanghui Investment & Development Company, Ltd., A Shares 19,100 65,693
Hengli Petrochemical Company, Ltd., A Shares 57,800 121,683
Hithink RoyalFlush Information Network Company, Ltd., Class A 1,800 64,091
Huaneng Power International, Inc., H Shares 366,000 227,018
Huatai Securities Company, Ltd., H Shares (B) 193,200 286,510
Huaxia Bank Company, Ltd., Class A 92,309 92,401
Huizhou Desay SV Automotive Company, Ltd., Class A 3,000 43,066
Iflytek Company, Ltd., A Shares 12,000 77,540
Industrial & Commercial Bank of China, Ltd., H Shares 5,685,000 3,900,112
Industrial Bank Company, Ltd., A Shares 124,200 356,895
Inner Mongolia BaoTou Steel Union Company, Ltd., Class A (A) 257,300 61,289
Inner Mongolia Yili Industrial Group Company, Ltd., A Shares 39,300 161,035
Innovent Biologics, Inc. (A)(B) 27,500 190,610
JCET Group Company, Ltd., Class A 5,900 27,157
JD Health International, Inc. (A)(B) 70,000 334,894
JD Logistics, Inc. (A)(B) 214,100 337,935
JD.com, Inc., Class A 231,600 3,819,831
Jiangsu Expressway Company, Ltd., H Shares 70,000 87,108
Jiangsu Hengli Hydraulic Company, Ltd., A Shares 6,100 62,505
Jiangsu Hengrui Pharmaceuticals Company, Ltd., Class A 23,151 162,887
Jiangsu King’s Luck Brewery JSC, Ltd., Class A 8,400 54,822
Jiangsu Yanghe Distillery Company, Ltd., A Shares 9,790 92,470
KE Holdings, Inc., ADR 63,613 1,291,344
Kuaishou Technology (A)(B) 274,000 1,823,204
Kuang-Chi Technologies Company, Ltd., Class A 3,500 20,337
Kweichow Moutai Company, Ltd., A Shares 5,592 1,191,114
Lenovo Group, Ltd. 1,300,000 1,507,086
Lens Technology Company, Ltd., A Shares 29,500 84,526
Li Auto, Inc., Class A (A) 109,800 1,348,660
Longfor Group Holdings, Ltd. (B) 243,500 327,819
LONGi Green Energy Technology Company, Ltd., A Shares 18,700 37,849
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 10
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Luxshare Precision Industry Company, Ltd., A Shares 49,000 $208,136
Luzhou Laojiao Company, Ltd., A Shares 9,800 166,968
Meituan, Class B (A)(B) 322,770 5,423,412
Midea Group Company, Ltd., A Shares 29,700 301,057
Montage Technology Company, Ltd., Class A 2,303 24,359
Muyuan Foods Company, Ltd., A Shares 35,860 195,870
NARI Technology Company, Ltd., A Shares 45,652 139,229
NAURA Technology Group Company, Ltd., Class A 2,200 136,602
NetEase, Inc. 143,300 3,086,012
New China Life Insurance Company, Ltd., H Shares 132,700 485,131
Ningbo Tuopu Group Company, Ltd., Class A 6,525 46,942
Ningxia Baofeng Energy Group Company, Ltd., Class A 58,200 128,455
NIO, Inc., Class A (A) 124,410 504,558
Nongfu Spring Company, Ltd., H Shares (B)(C) 120,800 557,680
Orient Securities Company, Ltd., H Shares (B) 82,000 48,219
PetroChina Company, Ltd., H Shares 2,508,000 1,921,096
PICC Property & Casualty Company, Ltd., H Shares 996,000 1,836,667
Ping An Bank Company, Ltd., A Shares 118,000 177,257
Ping An Insurance Group Company of China, Ltd., H Shares 587,000 3,527,435
Poly Developments and Holdings Group Company, Ltd., A Shares 98,800 113,862
Pop Mart International Group, Ltd. (B) 34,200 854,702
Postal Savings Bank of China Company, Ltd., H Shares (B) 751,000 462,917
Qinghai Salt Lake Industry Company, Ltd., Class A (A) 10,600 23,352
Range Intelligent Computing Technology Group Company, Ltd., Class A 3,700 24,744
Rongsheng Petrochemical Company, Ltd., A Shares 79,050 90,666
SAIC Motor Corp., Ltd., Class A 48,000 107,331
Sany Heavy Industry Company, Ltd., A Shares 61,100 158,917
Satellite Chemical Company, Ltd., Class A 23,700 59,097
SDIC Power Holdings Company, Ltd., Class A 49,500 102,642
Seres Group Company, Ltd., A Shares 5,500 98,659
SF Holding Company, Ltd., A Shares 38,700 231,897
Shaanxi Coal Industry Company, Ltd., A Shares 94,700 249,959
Shandong Gold Mining Company, Ltd., H Shares (B)(C) 54,470 160,150
Shanghai Baosight Software Company, Ltd., Class A 12,564 46,379
Shanghai Electric Group Company, Ltd., H Shares (A)(C) 142,000 46,694
Shanghai International Airport Company, Ltd., A Shares 15,700 69,391
Shanghai Pharmaceuticals Holding Company, Ltd., H Shares 36,900 50,534
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Shanghai Pudong Development Bank Company, Ltd., Class A 177,500 $267,858
Shanghai Rural Commercial Bank Company, Ltd., A Shares 53,500 61,877
Shanxi Xinghuacun Fen Wine Factory Company, Ltd., A Shares 8,045 226,081
Shenwan Hongyuan Group Company, Ltd., H Shares (B) 155,200 41,228
Shenzhen Inovance Technology Company, Ltd., A Shares 12,450 122,721
Shenzhen Mindray Bio-Medical Electronics Company, Ltd., A Shares 7,500 226,834
Shenzhen Transsion Holdings Company, Ltd., Class A 4,851 50,041
Shenzhou International Group Holdings, Ltd. 113,700 788,820
Sichuan Chuantou Energy Company, Ltd., Class A 24,900 58,249
Sichuan Road and Bridge Group Company, Ltd., Class A 43,440 51,976
Silergy Corp. 30,000 375,199
Smoore International Holdings, Ltd. (B)(C) 74,000 128,443
Sungrow Power Supply Company, Ltd., A Shares 16,240 135,505
Sunny Optical Technology Group Company, Ltd. 93,200 787,213
TCL Technology Group Corp., A Shares 111,920 63,952
Tencent Holdings, Ltd. 361,000 22,214,797
Tencent Music Entertainment Group, ADR 59,748 801,818
The People’s Insurance Company Group of China, Ltd., H Shares 851,000 503,706
Tongwei Company, Ltd., A Shares 40,300 90,501
Tsingtao Brewery Company, Ltd., H Shares 50,000 353,979
Unisplendour Corp., Ltd., Class A 8,800 30,461
Wanhua Chemical Group Company, Ltd., A Shares 28,300 212,129
Weichai Power Company, Ltd., H Shares 271,000 531,188
Wens Foodstuffs Group Company, Ltd., Class A 41,300 96,330
Will Semiconductor Company, Ltd., A Shares 5,715 103,539
Wuliangye Yibin Company, Ltd., A Shares 28,900 512,121
WuXi AppTec Company, Ltd., H Shares (B)(C) 35,780 277,531
WuXi Biologics Cayman, Inc. (A)(B) 263,500 774,730
XCMG Construction Machinery Company, Ltd., Class A 71,200 86,368
XPeng, Inc., Class A (A)(C) 109,000 1,023,979
Yankuang Energy Group Company, Ltd., H Shares (C) 492,399 514,959
Yum China Holdings, Inc. 49,050 2,293,516
Yunnan Baiyao Group Company, Ltd., A Shares 10,240 80,746
Zhangzhou Pientzehuang Pharmaceutical Company, Ltd., A Shares 4,800 135,703
Zhejiang China Commodities City Group Company, Ltd., Class A 15,700 33,139
Zhejiang Juhua Company, Ltd., Class A 9,200 32,188
Zhejiang NHU Company, Ltd., A Shares 19,700 59,972
Zhejiang Sanhua Intelligent Controls Company, Ltd., Class A 7,000 25,830
11 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Zhongji Innolight Company, Ltd., Class A 4,560 $52,420
Zijin Mining Group Company, Ltd., H Shares 914,000 2,001,331
Zoomlion Heavy Industry Science and Technology Company, Ltd., H Shares (C) 98,200 70,788
ZTO Express Cayman, Inc. 26,100 492,402
Hong Kong - 0.8% 4,907,569
China Resources Beer Holdings Company, Ltd. 210,500 743,768
China Resources Land, Ltd. 394,000 1,333,707
China Resources Power Holdings Company, Ltd. (C) 304,000 734,646
Geely Automobile Holdings, Ltd. 762,000 1,607,583
Kunlun Energy Company, Ltd. 240,000 229,022
Orient Overseas International, Ltd. 18,500 258,843
India - 24.1% 139,160,454
360 ONE WAM, Ltd. 9,992 115,912
ABB India, Ltd. 3,823 247,932
ACC, Ltd. 4,686 104,332
Adani Energy Solutions, Ltd. (A) 22,217 235,361
Adani Enterprises, Ltd. 8,177 221,644
Adani Green Energy, Ltd. (A) 12,128 128,625
Adani Ports & Special Economic Zone, Ltd. 24,448 351,830
Adani Power, Ltd. (A) 30,965 194,072
Adani Total Gas, Ltd. 15,584 110,013
Aditya Birla Capital, Ltd. (A) 50,048 115,932
Alkem Laboratories, Ltd. 2,920 175,407
Ambuja Cements, Ltd. 51,585 328,437
APL Apollo Tubes, Ltd. 15,506 295,130
Apollo Hospitals Enterprise, Ltd. 10,180 839,861
Ashok Leyland, Ltd. 148,373 396,908
Asian Paints, Ltd. 43,226 1,236,399
Astral, Ltd. 12,692 201,308
AU Small Finance Bank, Ltd. (B) 31,164 249,360
Aurobindo Pharma, Ltd. (A) 23,978 346,854
Avenue Supermarts, Ltd. (A)(B) 8,366 413,429
Axis Bank, Ltd. 197,996 2,773,649
Bajaj Auto, Ltd. 6,136 582,124
Bajaj Finance, Ltd. 17,651 1,799,599
Bajaj Finserv, Ltd. 24,735 571,210
Bajaj Holdings & Investment, Ltd. 4,055 575,825
Balkrishna Industries, Ltd. 8,363 264,599
Bank of Baroda 102,655 303,285
Bank of India 65,639 89,271
Berger Paints India, Ltd. 36,184 233,207
Bharat Dynamics, Ltd. 1,872 33,304
Bharat Electronics, Ltd. 327,341 1,212,557
Bharat Forge, Ltd. 21,409 278,852
Bharat Heavy Electricals, Ltd. 89,060 237,968
Bharat Petroleum Corp., Ltd. 301,282 1,104,973
Bharti Airtel, Ltd. 212,399 4,663,118
Biocon, Ltd. 27,078 102,564
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
India (continued)  
Blue Star, Ltd. 4,933 $99,555
Bosch, Ltd. 690 238,729
Britannia Industries, Ltd. 12,472 799,410
Canara Bank 169,274 194,753
CG Power & Industrial Solutions, Ltd. 56,464 417,312
Cholamandalam Investment and Finance Company, Ltd. 51,473 907,866
Cipla, Ltd. 87,570 1,606,623
Coal India, Ltd. 343,036 1,559,591
Cochin Shipyard, Ltd. (B) 1,469 27,560
Coforge, Ltd. 3,075 265,556
Colgate-Palmolive India, Ltd. 14,083 429,622
Container Corp. of India, Ltd. 25,823 204,973
Coromandel International, Ltd. 9,188 240,370
Cummins India, Ltd. 10,150 346,128
Dabur India, Ltd. 49,001 281,882
Divi’s Laboratories, Ltd. 10,217 732,440
Dixon Technologies India, Ltd. 2,430 471,712
DLF, Ltd. 36,333 288,247
Dr. Reddy’s Laboratories, Ltd. 108,239 1,511,153
Eicher Motors, Ltd. 13,111 864,949
Eternal, Ltd. (A) 260,890 714,667
Federal Bank, Ltd. 155,230 360,405
Fortis Healthcare, Ltd. 22,592 181,881
FSN E-Commerce Ventures, Ltd. (A) 68,722 157,676
GAIL India, Ltd. 378,966 843,485
GE Vernova T&D India, Ltd. 2,512 46,087
GlaxoSmithKline Pharmaceuticals, Ltd. 3,100 107,589
Glenmark Pharmaceuticals, Ltd. 10,545 171,723
GMR Airports, Ltd. (A) 184,793 190,078
Godrej Consumer Products, Ltd. 31,625 473,156
Godrej Industries, Ltd. (A) 1,480 18,990
Godrej Properties, Ltd. (A) 7,199 182,302
Grasim Industries, Ltd. 39,717 1,279,698
Gujarat Fluorochemicals, Ltd. 1,040 47,258
Havells India, Ltd. 32,118 608,649
HCL Technologies, Ltd. 101,638 1,872,544
HDFC Asset Management Company, Ltd. (B) 9,501 491,448
HDFC Bank, Ltd. 373,485 8,488,361
HDFC Life Insurance Company, Ltd. (B) 54,572 481,230
Hero MotoCorp, Ltd. 20,480 929,898
Hindalco Industries, Ltd. 205,706 1,510,952
Hindustan Aeronautics, Ltd. 11,423 605,738
Hindustan Petroleum Corp., Ltd. 113,599 506,251
Hindustan Unilever, Ltd. 77,628 2,145,977
Hitachi Energy India, Ltd. 514 87,719
ICICI Bank, Ltd. 486,284 8,198,196
ICICI Lombard General Insurance Company, Ltd. (B) 20,801 461,674
ICICI Prudential Life Insurance Company, Ltd. (B) 25,184 182,731
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 12
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
India (continued)  
IDFC First Bank, Ltd. (A) 210,085 $161,411
Indian Bank 32,156 214,212
Indian Oil Corp., Ltd. 540,237 877,654
Indian Railway Catering & Tourism Corp., Ltd. 24,286 215,109
Indian Renewable Energy Development Agency, Ltd. (A) 33,975 66,757
Indus Towers, Ltd. (A) 202,381 973,772
IndusInd Bank, Ltd. 48,859 481,744
Info Edge India, Ltd. 6,985 583,876
Infosys, Ltd. 266,562 4,705,961
InterGlobe Aviation, Ltd. (A)(B) 10,789 668,408
ITC Hotels, Ltd. (A) 32,350 74,385
ITC, Ltd. 296,442 1,491,267
Jindal Stainless, Ltd. 47,692 326,993
Jindal Steel & Power, Ltd. 53,771 568,046
Jio Financial Services, Ltd. (A) 129,140 396,024
JSW Energy, Ltd. 38,592 218,441
JSW Steel, Ltd. 91,381 1,108,789
Jubilant Foodworks, Ltd. 24,970 211,030
Kalyan Jewellers India, Ltd. 19,802 120,499
Kotak Mahindra Bank, Ltd. 72,253 1,883,215
KPIT Technologies, Ltd. 9,863 144,880
L&T Finance, Ltd. 48,605 94,352
L&T Technology Services, Ltd. (B) 2,554 129,085
Larsen & Toubro, Ltd. 36,200 1,426,854
Linde India, Ltd. 1,107 83,008
Lloyds Metals & Energy, Ltd. 6,032 86,035
LTIMindtree, Ltd. (B) 8,695 470,505
Lupin, Ltd. 19,240 476,401
Macrotech Developers, Ltd. (B) 12,370 193,961
Mahindra & Mahindra Financial Services, Ltd. 26,638 82,452
Mahindra & Mahindra, Ltd. 91,096 3,147,999
Mankind Pharma, Ltd. (A) 4,082 118,715
Marico, Ltd. 67,513 566,579
Maruti Suzuki India, Ltd. 7,890 1,141,048
Max Healthcare Institute, Ltd. 40,861 530,860
Motilal Oswal Financial Services, Ltd. 10,031 77,176
Mphasis, Ltd. 9,806 285,044
MRF, Ltd. 302 479,718
Muthoot Finance, Ltd. 21,185 542,014
Nestle India, Ltd. 36,017 1,014,638
NHPC, Ltd. 240,551 243,302
Nippon Life India Asset Management, Ltd. (B) 6,192 46,394
NMDC, Ltd. 571,122 436,975
NTPC, Ltd. 463,102 1,938,825
Oberoi Realty, Ltd. 10,533 204,168
Oil & Natural Gas Corp., Ltd. 380,328 1,095,825
Oil India, Ltd. 56,161 272,151
One 97 Communications, Ltd. (A) 16,278 165,971
Oracle Financial Services Software, Ltd. 1,928 198,326
Page Industries, Ltd. 570 305,430
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
India (continued)  
Patanjali Foods, Ltd. 3,463 $77,943
PB Fintech, Ltd. (A) 15,582 300,025
Persistent Systems, Ltd. 9,664 605,003
Petronet LNG, Ltd. 141,231 523,742
PI Industries, Ltd. 6,123 262,796
Pidilite Industries, Ltd. 16,199 580,975
Polycab India, Ltd. 4,144 269,633
Power Finance Corp., Ltd. 199,659 959,611
Power Grid Corp. of India, Ltd. 684,235 2,471,819
Prestige Estates Projects, Ltd. 11,919 192,730
Procter & Gamble Hygiene & Health Care, Ltd. 1,205 203,249
Punjab National Bank 213,714 252,712
Rail Vikas Nigam, Ltd. 23,981 98,724
REC, Ltd. 157,694 779,756
Reliance Industries, Ltd. 494,789 8,169,981
Samvardhana Motherson International, Ltd. 423,057 665,354
SBI Cards & Payment Services, Ltd. 19,566 201,291
SBI Life Insurance Company, Ltd. (B) 41,327 861,577
Schaeffler India, Ltd. 3,406 139,491
Shree Cement, Ltd. 870 306,258
Shriram Finance, Ltd. 130,592 941,371
Siemens Energy India, Ltd. (A)(D) 4,829 141,648
Siemens, Ltd. 4,785 163,118
Solar Industries India, Ltd. 2,100 326,868
SRF, Ltd. 11,831 420,116
State Bank of India 168,623 1,571,988
Steel Authority of India, Ltd. 169,981 227,094
Sun Pharmaceutical Industries, Ltd. 58,556 1,262,558
Sundaram Finance, Ltd. 5,090 314,496
Supreme Industries, Ltd. 5,113 213,940
Suzlon Energy, Ltd. (A) 810,969 537,550
Tata Communications, Ltd. 11,521 216,009
Tata Consultancy Services, Ltd. 77,201 3,135,969
Tata Consumer Products, Ltd. 52,150 716,043
Tata Elxsi, Ltd. 3,142 212,953
Tata Motors, Ltd. 185,331 1,411,638
Tata Steel, Ltd. 1,050,623 1,735,540
Tech Mahindra, Ltd. 52,564 932,024
The Indian Hotels Company, Ltd. 45,418 423,087
The Phoenix Mills, Ltd. 7,762 150,878
The Tata Power Company, Ltd. 155,826 707,254
Thermax, Ltd. 1,305 50,651
Titan Company, Ltd. 34,807 1,382,783
Torrent Pharmaceuticals, Ltd. 10,949 431,085
Torrent Power, Ltd. 12,919 234,208
Trent, Ltd. 16,017 973,528
Tube Investments of India, Ltd. 8,330 284,458
TVS Motor Company, Ltd. 19,836 623,393
UltraTech Cement, Ltd. 6,153 847,384
Union Bank of India, Ltd. 121,824 180,709
United Breweries, Ltd. 5,859 148,764
13 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
India (continued)  
United Spirits, Ltd. 29,086 $535,423
UNO Minda, Ltd. 15,995 167,573
UPL, Ltd. 77,318 613,492
Varun Beverages, Ltd. 98,896 608,357
Vedanta, Ltd. 286,774 1,416,155
Vodafone Idea, Ltd. (A) 613,419 51,769
Voltas, Ltd. 8,951 130,572
Wipro, Ltd. 276,742 788,785
Yes Bank, Ltd. (A) 1,135,394 238,008
Zydus Lifesciences, Ltd. 43,188 452,616
Indonesia - 1.5% 8,630,774
Alamtri Resources Indonesia Tbk PT 2,264,700 259,213
Amman Mineral Internasional PT (A) 354,200 152,029
Astra International Tbk PT 2,108,700 609,745
Bank Central Asia Tbk PT 3,770,500 2,004,498
Bank Mandiri Persero Tbk PT 4,155,500 1,224,120
Bank Negara Indonesia Persero Tbk PT 2,086,200 525,320
Bank Rakyat Indonesia Persero Tbk PT 4,384,450 1,016,875
Barito Pacific Tbk PT 2,092,955 93,931
Charoen Pokphand Indonesia Tbk PT 540,500 154,010
Dayamitra Telekomunikasi PT 1,429,200 53,380
Dian Swastatika Sentosa Tbk PT (A) 130,600 357,970
Indofood CBP Sukses Makmur Tbk PT 186,200 127,311
Indofood Sukses Makmur Tbk PT 635,300 306,169
Indosat Tbk PT 928,200 97,852
Kalbe Farma Tbk PT 1,706,900 140,357
Mayora Indah Tbk PT 568,100 78,028
Sumber Alfaria Trijaya Tbk PT 1,630,200 212,122
Telkom Indonesia Persero Tbk PT 5,134,000 816,492
United Tractors Tbk PT 293,500 401,352
Ireland - 1.4% 7,915,850
PDD Holdings, Inc., ADR (A) 74,982 7,915,850
Luxembourg - 0.0% 102,867
Zabka Group SA (A) 18,011 102,867
Malaysia - 2.0% 11,419,367
AMMB Holdings BHD 146,800 175,548
Axiata Group BHD 491,495 239,198
CELCOMDIGI BHD 346,100 306,397
CIMB Group Holdings BHD 778,924 1,285,270
Gamuda BHD 201,739 198,233
Genting BHD 327,500 242,874
Genting Malaysia BHD 443,500 175,756
Hong Leong Bank BHD 63,300 293,102
Hong Leong Financial Group BHD 37,200 148,110
IHH Healthcare BHD 169,900 272,470
IOI Corp. BHD 251,100 212,984
Kuala Lumpur Kepong BHD 48,676 221,326
Malayan Banking BHD 544,022 1,259,509
Maxis BHD 204,300 175,655
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Malaysia (continued)  
MISC BHD 133,900 $233,045
Mr. DIY Group M BHD (B) 203,100 79,075
Nestle Malaysia BHD 5,100 102,827
Petronas Chemicals Group BHD 161,300 137,189
Petronas Dagangan BHD 50,600 231,482
Petronas Gas BHD 64,800 262,804
PPB Group BHD 85,900 247,647
Press Metal Aluminium Holdings BHD 341,200 387,458
Public Bank BHD 999,100 1,034,989
QL Resources BHD 130,100 144,723
RHB Bank BHD 189,716 292,378
SD Guthrie BHD 282,138 310,581
Sime Darby BHD 604,900 291,586
Sunway BHD 102,500 108,082
Telekom Malaysia BHD 169,270 266,752
Tenaga Nasional BHD 495,500 1,591,571
Westports Holdings BHD 140,000 137,891
YTL Corp. BHD 185,600 82,584
YTL Power International BHD 341,000 270,271
Mexico - 2.4% 13,900,283
America Movil SAB de CV, Series B 1,878,888 1,628,850
Arca Continental SAB de CV 37,764 398,437
Cemex SAB de CV (C) 1,910,188 1,183,682
Coca-Cola Femsa SAB de CV 29,900 282,412
El Puerto de Liverpool SAB de CV, Series C1 (C) 18,071 83,371
Fomento Economico Mexicano SAB de CV 131,548 1,385,639
Gruma SAB de CV, Class B 17,875 341,200
Grupo Aeroportuario del Pacifico SAB de CV, Series B 40,093 813,903
Grupo Aeroportuario del Sureste SAB de CV, Series B 18,914 598,359
Grupo Bimbo SAB de CV, Series A (C) 141,000 429,807
Grupo Carso SAB de CV, Series A1 (C) 43,104 300,308
Grupo Comercial Chedraui SA de CV (C) 18,818 121,781
Grupo Financiero Banorte SAB de CV, Series O 212,804 1,827,995
Grupo Financiero Inbursa SAB de CV, Series O (A)(C) 261,640 673,781
Grupo Mexico SAB de CV, Series B 342,808 1,782,076
Industrias Penoles SAB de CV (A)(C) 13,900 279,058
Kimberly-Clark de Mexico SAB de CV, Class A (C) 140,300 247,272
Wal-Mart de Mexico SAB de CV 479,640 1,522,352
Netherlands - 0.1% 408,034
NEPI Rockcastle NV (A) 53,236 408,034
Philippines - 0.8% 4,693,809
Aboitiz Equity Ventures, Inc. 321,180 186,883
Aboitiz Power Corp. 116,400 77,732
Ayala Corp. 22,950 246,326
Ayala Land, Inc. 574,800 257,788
Bank of the Philippine Islands 290,901 729,140
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 14
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Philippines (continued)  
BDO Unibank, Inc. 265,516 $762,488
Emperador, Inc. 45,100 10,545
Globe Telecom, Inc. 4,509 156,691
International Container Terminal Services, Inc. 81,870 498,651
Jollibee Foods Corp. 45,500 186,383
Manila Electric Company 28,170 287,475
Metropolitan Bank & Trust Company 257,122 354,000
PLDT, Inc. 12,090 281,389
SM Investments Corp. 25,175 392,127
SM Prime Holdings, Inc. 610,600 266,191
Poland - 1.4% 7,998,426
Alior Bank SA 6,704 182,179
Allegro.eu SA (A)(B) 27,540 241,278
Bank Handlowy w Warszawie SA 2,740 85,636
Bank Polska Kasa Opieki SA 26,932 1,348,139
Budimex SA 752 126,549
CD Projekt SA 3,162 195,718
Dino Polska SA (A)(B) 4,712 662,212
ING Bank Slaski SA (A) 2,263 196,968
KGHM Polska Miedz SA 14,464 459,556
LPP SA 131 536,158
mBank SA (A) 865 189,198
ORLEN SA 56,522 1,024,928
PGE Polska Grupa Energetyczna SA (A) 109,417 239,381
Powszechna Kasa Oszczednosci Bank Polski SA 60,608 1,165,867
Powszechny Zaklad Ubezpieczen SA 55,696 870,958
Santander Bank Polska SA 3,088 473,701
Russia - 0.0% 0
Gazprom PJSC, ADR (A)(D) 4,562 0
LUKOIL PJSC, ADR (A)(D) 472 0
MMC Norilsk Nickel PJSC, ADR (A)(D) 780 0
Novatek PJSC, GDR (A)(D) 50 0
Sberbank of Russia PJSC, ADR (A)(D) 263,203 0
Saudi Arabia - 3.9% 22,513,922
ACWA Power Company (A) 6,554 562,635
Ades Holding Company 10,639 42,943
Al Rajhi Bank 137,302 3,565,335
Al Rajhi Company for Co-operative Insurance (A) 2,976 103,937
Aldrees Petroleum and Transport Services Company 1,737 63,814
Alinma Bank 134,388 1,039,018
Almarai Company JSC 50,671 713,276
Arabian Internet & Communications Services Company 2,043 155,993
Astra Industrial Group 2,330 92,681
Bank AlBilad 57,147 440,307
Bank Al-Jazira (A) 58,372 210,089
Banque Saudi Fransi 120,940 592,625
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Saudi Arabia (continued)  
Bupa Arabia for Cooperative Insurance Company 2,617 $117,213
Dallah Healthcare Company 1,551 50,447
Dar Al Arkan Real Estate Development Company (A) 43,430 253,570
Dr Sulaiman Al Habib Medical Services Group Company 8,457 645,734
Elm Company 2,509 692,184
Etihad Etisalat Company 71,781 1,201,804
Jarir Marketing Company 63,445 213,462
Mouwasat Medical Services Company 9,265 179,080
Nahdi Medical Company 3,343 101,246
Power & Water Utility Company for Jubail & Yanbu 8,227 96,068
Riyad Bank 133,994 1,098,487
Riyadh Cables Group Company 3,199 108,484
SABIC Agri-Nutrients Company 29,103 765,807
Sahara International Petrochemical Company 54,770 277,435
SAL Saudi Logistics Services 1,757 85,534
Saudi Arabian Mining Company (A) 70,621 962,098
Saudi Aramco Base Oil Company 3,890 102,982
Saudi Awwal Bank 36,620 341,705
Saudi Basic Industries Corp. 65,188 1,060,137
Saudi Electricity Company 119,057 475,479
Saudi Industrial Investment Group 26,752 107,838
Saudi Research & Media Group (A) 3,129 144,483
Saudi Tadawul Group Holding Company 2,427 118,539
Saudi Telecom Company 206,440 2,619,783
The Company for Cooperative Insurance 6,416 237,421
The Saudi Investment Bank 58,318 233,838
The Saudi National Bank 235,195 2,238,519
The Savola Group (A) 12,006 100,186
Yanbu National Petrochemical Company 35,420 301,706
Singapore - 0.6% 3,240,822
Trip.com Group, Ltd. 53,700 3,240,822
South Africa - 3.5% 20,526,106
Absa Group, Ltd. (C) 84,034 771,182
Anglo American Platinum, Ltd. (C) 3,205 110,103
Aspen Pharmacare Holdings, Ltd. 39,576 258,966
Bid Corp., Ltd. 34,061 855,816
Capitec Bank Holdings, Ltd. 8,994 1,663,839
Clicks Group, Ltd. 27,255 579,502
Discovery, Ltd. 47,214 522,707
Exxaro Resources, Ltd. 25,914 211,727
FirstRand, Ltd. 498,503 1,945,920
Gold Fields, Ltd. 82,579 1,859,667
Harmony Gold Mining Company, Ltd. 42,327 670,021
Impala Platinum Holdings, Ltd. (A) 110,556 658,776
Investec, Ltd. 21,486 133,573
Kumba Iron Ore, Ltd. 5,406 93,992
Mr. Price Group, Ltd. 9,925 126,453
15 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
South Africa (continued)  
MTN Group, Ltd. (C) 153,344 $1,011,318
Naspers, Ltd., N Shares 11,291 2,968,833
Nedbank Group, Ltd. 63,971 871,398
Old Mutual, Ltd. 241,328 146,953
OUTsurance Group, Ltd. 65,555 269,038
Pepkor Holdings, Ltd. (B) 154,638 222,903
Sanlam, Ltd. 137,148 622,856
Sasol, Ltd. (A) 64,106 221,023
Shoprite Holdings, Ltd. 51,116 784,422
Standard Bank Group, Ltd. 142,635 1,776,282
The Bidvest Group, Ltd. 34,094 430,521
Vodacom Group, Ltd. 58,933 433,772
Woolworths Holdings, Ltd. 98,375 304,543
South Korea - 10.6% 61,055,025
Alteogen, Inc. (A) 1,359 335,567
AMOREPACIFIC Corp. 2,333 204,168
Celltrion, Inc. 8,151 924,908
CJ CheilJedang Corp. 1,433 240,934
Coway Company, Ltd. 7,383 455,497
DB Insurance Company, Ltd. 7,747 497,029
Doosan Bobcat, Inc. 6,214 214,200
Doosan Enerbility Company, Ltd. (A) 29,247 595,639
Ecopro BM Company, Ltd. (A) 3,997 285,400
Ecopro Company, Ltd. 6,899 247,520
Ecopro Materials Company, Ltd. (A) 767 29,946
GS Holdings Corp. 11,170 304,101
Hana Financial Group, Inc. 41,746 1,894,208
Hanjin Kal Corp. 924 51,676
Hankook Tire & Technology Company, Ltd. 12,807 372,993
Hanmi Semiconductor Company, Ltd. 2,438 130,518
Hanwha Aerospace Company, Ltd. 2,105 1,180,222
Hanwha Ocean Company, Ltd. (A) 4,616 254,911
Hanwha Systems Company, Ltd. 1,458 40,001
HD Hyundai Company, Ltd. 5,853 324,046
HD Hyundai Electric Company, Ltd. 1,670 361,256
HD Hyundai Heavy Industries Company, Ltd. (A) 910 257,348
HD Korea Shipbuilding & Offshore Engineering Company, Ltd. 3,436 657,469
HLB, Inc. (A) 6,352 254,259
HMM Company, Ltd. 28,971 372,149
HYBE Company, Ltd. (A) 1,070 200,978
Hyundai Autoever Corp. 254 22,014
Hyundai Engineering & Construction Company, Ltd. 10,532 308,218
Hyundai Glovis Company, Ltd. 6,457 517,832
Hyundai Mobis Company, Ltd. 5,942 1,118,174
Hyundai Motor Company 13,597 1,823,136
Hyundai Rotem Company, Ltd. 4,383 345,953
Hyundai Steel Company 9,639 166,131
Industrial Bank of Korea 39,222 423,261
Kakao Corp. 17,606 473,746
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
South Korea (continued)  
KakaoBank Corp. 15,628 $245,167
Kangwon Land, Inc. 8,666 98,761
KB Financial Group, Inc. 34,637 2,197,860
Kia Corp. 31,218 1,985,302
Korea Aerospace Industries, Ltd. 5,732 333,879
Korea Electric Power Corp. 41,956 757,067
Korea Investment Holdings Company, Ltd. 6,265 365,807
Korea Zinc Company, Ltd. 898 504,118
Korean Air Lines Company, Ltd. 27,135 399,914
Krafton, Inc. (A) 2,497 652,575
KT&G Corp. 7,883 636,075
LG Chem, Ltd. 2,816 427,897
LG Corp. 13,836 648,243
LG Display Company, Ltd. (A) 44,090 262,710
LG Electronics, Inc. 19,620 985,486
LG Energy Solution, Ltd. (A) 1,699 387,848
LG H&H Company, Ltd. 779 184,954
LG Innotek Company, Ltd. 1,588 155,951
LG Uplus Corp. 56,792 480,225
LIG Nex1 Company, Ltd. 437 98,529
LS Electric Company, Ltd. 909 130,131
Macquarie Korea Infrastructure Fund 29,267 235,948
Meritz Financial Group, Inc. 8,099 707,060
Mirae Asset Securities Company, Ltd. 37,262 310,626
NAVER Corp. 7,604 1,072,530
NCSoft Corp. 1,315 135,339
Netmarble Corp. (B) 2,576 81,004
NH Investment & Securities Company, Ltd. 4,719 50,958
Orion Corp. 2,369 205,319
Posco DX Company, Ltd. 1,692 29,222
POSCO Future M Company, Ltd. (A) 2,012 176,784
POSCO Holdings, Inc. 6,370 1,167,348
Posco International Corp. 4,231 146,887
Rainbow Robotics (A) 169 32,159
Samsung Biologics Company, Ltd. (A)(B) 957 708,241
Samsung C&T Corp. 7,004 603,088
Samsung Card Company, Ltd. 3,617 106,742
Samsung Electro-Mechanics Company, Ltd. 4,482 371,109
Samsung Electronics Company, Ltd. 388,810 15,180,412
Samsung Fire & Marine Insurance Company, Ltd. 2,686 707,638
Samsung Heavy Industries Company, Ltd. (A) 56,664 580,791
Samsung Life Insurance Company, Ltd. 11,012 667,770
Samsung SDI Company, Ltd. 3,344 414,030
Samsung SDS Company, Ltd. 3,249 293,473
Samyang Foods Company, Ltd. 179 122,146
Shinhan Financial Group Company, Ltd. 45,914 1,660,204
SK Biopharmaceuticals Company, Ltd. (A) 1,989 149,018
SK Bioscience Company, Ltd. (A) 1,193 33,234
SK Hynix, Inc. 33,221 4,148,243
SK Innovation Company, Ltd. 5,403 358,806
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 16
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
South Korea (continued)  
SK Telecom Company, Ltd. 15,579 $595,104
SK, Inc. 4,095 381,413
SKC Company, Ltd. (A) 912 65,505
S-Oil Corp. 6,290 230,095
Woori Financial Group, Inc. 99,777 1,243,089
Yuhan Corp. 3,245 259,783
Taiwan - 16.6% 96,128,684
Accton Technology Corp. 42,000 780,039
Acer, Inc. 225,000 245,521
Advantech Company, Ltd. 47,981 505,568
Airtac International Group 14,743 405,648
Alchip Technologies, Ltd. 7,000 465,091
ASE Technology Holding Company, Ltd. 362,000 1,533,659
Asia Cement Corp. 358,000 503,705
Asia Vital Components Company, Ltd. 26,000 377,200
ASMedia Technology, Inc. 4,000 210,112
ASPEED Technology, Inc. 3,000 281,399
Asustek Computer, Inc. 101,000 1,831,598
AUO Corp. (A) 1,053,600 405,193
Caliway Biopharmaceuticals Company, Ltd. (A) 3,000 62,658
Catcher Technology Company, Ltd. 103,000 698,840
Cathay Financial Holding Company, Ltd. 919,513 1,681,878
Chailease Holding Company, Ltd. 172,226 616,574
Chang Hwa Commercial Bank, Ltd. 1,021,994 581,568
Cheng Shin Rubber Industry Company, Ltd. 283,000 436,671
Chicony Electronics Company, Ltd. 41,000 197,417
China Airlines, Ltd. 499,000 328,423
China Steel Corp. 1,322,000 853,557
Chroma ATE, Inc. 32,000 292,655
Chunghwa Telecom Company, Ltd. 339,000 1,372,620
Compal Electronics, Inc. 631,000 539,594
CTBC Financial Holding Company, Ltd. 1,950,000 2,396,117
Delta Electronics, Inc. 131,000 1,365,991
E Ink Holdings, Inc. 79,000 548,354
E.Sun Financial Holding Company, Ltd. 1,618,184 1,431,842
Eclat Textile Company, Ltd. (A) 22,000 284,776
Elite Material Company, Ltd. 26,000 451,990
eMemory Technology, Inc. 7,266 582,725
Eva Airways Corp. 444,000 534,471
Evergreen Marine Corp. Taiwan, Ltd. 149,000 962,027
Far Eastern New Century Corp. 547,000 561,828
Far EasTone Telecommunications Company, Ltd. 212,000 568,064
Feng TAY Enterprise Company, Ltd. 92,601 325,723
First Financial Holding Company, Ltd. 1,670,003 1,326,269
Formosa Chemicals & Fibre Corp. 429,000 333,993
Formosa Petrochemical Corp. 170,000 185,771
Formosa Plastics Corp. 456,000 484,758
Fortune Electric Company, Ltd. 12,800 168,490
Fubon Financial Holding Company, Ltd. 796,171 2,098,528
Gigabyte Technology Company, Ltd. 39,000 278,632
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Taiwan (continued)  
Global Unichip Corp. 7,000 $224,338
Globalwafers Company, Ltd. 37,000 356,893
Gold Circuit Electronics, Ltd. 21,000 125,739
Hon Hai Precision Industry Company, Ltd. 903,800 3,998,615
Hotai Motor Company, Ltd. 34,820 673,907
Hua Nan Financial Holdings Company, Ltd. 1,554,908 1,312,651
Innolux Corp. 1,025,055 439,085
International Games System Company, Ltd. 21,000 546,290
Inventec Corp. 433,000 550,338
Jentech Precision Industrial Company, Ltd. 4,000 125,066
KGI Financial Holding Company, Ltd. 2,585,159 1,333,681
King Slide Works Company, Ltd. 4,000 218,241
King Yuan Electronics Company, Ltd. 99,000 268,680
Largan Precision Company, Ltd. 11,000 777,288
Lite-On Technology Corp. 324,000 972,517
Lotes Company, Ltd. 8,000 312,666
MediaTek, Inc. 121,537 5,130,068
Mega Financial Holding Company, Ltd. 1,182,288 1,395,472
Micro-Star International Company, Ltd. 101,000 440,531
Nan Ya Plastics Corp. 620,000 593,190
Nanya Technology Corp. (A) 170,000 191,352
Nien Made Enterprise Company, Ltd. 18,000 220,054
Novatek Microelectronics Corp. 92,850 1,506,711
Pegatron Corp. 299,000 755,376
PharmaEssentia Corp. (A) 14,307 234,849
Phison Electronics Corp. 14,000 195,885
Pou Chen Corp. 364,000 372,729
President Chain Store Corp. 89,000 726,292
Quanta Computer, Inc. (A) 211,000 1,573,445
Realtek Semiconductor Corp. 48,000 786,418
Ruentex Development Company, Ltd. 149,250 153,296
Shin Kong Financial Holding Company, Ltd. (A) 2,593,696 956,934
SinoPac Financial Holdings Company, Ltd. 1,862,662 1,240,493
Synnex Technology International Corp. 114,000 252,716
Taishin Financial Holding Company, Ltd. 1,909,039 996,809
Taiwan Business Bank 672,288 297,435
Taiwan Cooperative Financial Holding Company, Ltd. 1,114,720 848,683
Taiwan High Speed Rail Corp. 315,000 267,400
Taiwan Mobile Company, Ltd. 265,000 940,421
Taiwan Semiconductor Manufacturing Company, Ltd. 753,000 21,377,732
Tatung Company, Ltd. (A) 118,000 149,792
TCC Group Holdings Company, Ltd. 866,117 802,938
Teco Electric & Machinery Company, Ltd. 109,000 167,336
The Shanghai Commercial & Savings Bank, Ltd. 480,265 705,764
Tripod Technology Corp. 36,000 206,547
Unimicron Technology Corp. 192,000 563,699
Uni-President Enterprises Corp. 459,000 1,102,186
United Microelectronics Corp. 1,154,000 1,630,891
Vanguard International Semiconductor Corp. 156,643 440,303
17 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Taiwan (continued)  
Voltronic Power Technology Corp. 7,000 $328,299
Walsin Lihwa Corp. 265,000 171,099
Wan Hai Lines, Ltd. 130,950 337,785
Wistron Corp. 267,000 847,341
Wiwynn Corp. 18,064 1,078,768
WPG Holdings, Ltd. 107,000 225,823
WT Microelectronics Company, Ltd. 34,000 123,847
Yageo Corp. 60,471 867,842
Yang Ming Marine Transport Corp. 259,000 550,668
Yuanta Financial Holding Company, Ltd. 1,802,553 1,752,787
Zhen Ding Technology Holding, Ltd. 94,000 287,146
Thailand - 1.6% 9,281,988
Advanced Info Service PCL, NVDR 106,200 937,854
Airports of Thailand PCL, NVDR 250,800 287,176
Asset World Corp. PCL, NVDR 721,800 47,537
Bangkok Bank PCL, NVDR 59,100 247,687
Bangkok Dusit Medical Services PCL, NVDR 436,900 313,893
Bangkok Expressway & Metro PCL, NVDR 607,500 107,297
Berli Jucker PCL, NVDR 128,800 91,766
Bumrungrad Hospital PCL, NVDR 37,600 185,721
Central Pattana PCL, NVDR 146,800 223,024
Central Retail Corp. PCL, NVDR 434,100 307,983
Charoen Pokphand Foods PCL, NVDR 494,000 391,887
CP ALL PCL, NVDR 239,500 369,234
Delta Electronics Thailand PCL, NVDR 334,600 981,614
Global Power Synergy PCL, NVDR 87,586 81,936
Gulf Development PCL, NVDR (A) 410,122 601,586
Home Product Center PCL, NVDR 417,500 106,234
Indorama Ventures PCL, NVDR 252,500 143,616
Kasikornbank PCL, NVDR 55,100 263,088
Krung Thai Bank PCL, NVDR 341,300 222,731
Krungthai Card PCL, NVDR 108,800 151,450
Minor International PCL, NVDR 396,129 317,212
Muangthai Capital PCL, NVDR 78,200 105,344
PTT Exploration & Production PCL, NVDR 230,600 686,864
PTT Oil & Retail Business PCL, NVDR 261,900 113,682
PTT PCL, NVDR 853,200 791,774
SCB X PCL, NVDR 79,000 281,425
Thai Beverage PCL 859,400 329,096
The Siam Cement PCL, NVDR 26,300 125,969
TMBThanachart Bank PCL, NVDR 2,273,985 124,574
True Corp. PCL, NVDR (A) 946,200 342,734
Turkey - 0.6% 3,319,562
Akbank TAS 281,608 355,124
Anadolu Efes Biracilik Ve Malt Sanayii AS 2,800 11,619
Arcelik AS (A) 4,911 14,519
Aselsan Elektronik Sanayi Ve Ticaret AS 62,678 220,010
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS 10,481 27,388
BIM Birlesik Magazalar AS 25,739 301,830
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Turkey (continued)  
Coca-Cola Icecek AS 41,983 $56,873
Enka Insaat ve Sanayi AS 148,430 246,999
Eregli Demir ve Celik Fabrikalari TAS (A) 226,376 132,436
Ford Otomotiv Sanayi AS 3,817 87,883
KOC Holding AS 121,119 433,650
Oyak Cimento Fabrikalari AS (A) 41,099 25,049
Pegasus Hava Tasimaciligi AS (A) 12,908 74,811
Tofas Turk Otomobil Fabrikasi AS 3,446 17,920
Turk Hava Yollari AO (A) 50,347 372,107
Turkcell Iletisim Hizmetleri AS 114,199 266,941
Turkiye Is Bankasi AS, Class C 800,027 214,257
Turkiye Petrol Rafinerileri AS 76,639 248,491
Turkiye Sise ve Cam Fabrikalari AS 57,575 51,198
Yapi ve Kredi Bankasi AS (A) 271,140 160,457
United Kingdom - 0.1% 554,433
Anglogold Ashanti PLC 13,292 554,433
United States - 0.2% 1,016,700
BeiGene, Ltd. (A) 49,900 1,016,700
PREFERRED SECURITIES - 1.3% $7,702,855
(Cost $8,847,518)    
Brazil - 1.3% 7,395,810
Banco Bradesco SA 439,147 1,065,017
Centrais Eletricas Brasileiras SA, B Shares 27,860 237,342
Cia Energetica de Minas Gerais 269,126 520,530
Cia Paranaense de Energia, B Shares 135,500 275,959
Gerdau SA 197,696 523,451
Itau Unibanco Holding SA 278,765 1,751,945
Petroleo Brasileiro SA 570,400 3,021,566
Chile - 0.0% 307,045
Sociedad Quimica y Minera de Chile SA, B Shares 9,008 307,045
RIGHTS - 0.0% $8,574
(Cost $0)    
Samsung SDI Company, Ltd. (Expiration Date: 5-22-25; Strike Price: KRW 146,200) (A) 409 8,574
SHORT-TERM INVESTMENTS - 0.4% $2,455,303
(Cost $2,455,267)    
Short-term funds - 0.4% 2,455,303
John Hancock Collateral Trust, 4.2081% (E)(F) 169,022 1,690,756
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2762% (E) 764,547 764,547
Total investments (Multifactor Emerging Markets ETF) (Cost $477,130,127) - 101.2% $584,306,644
Other assets and liabilities, net - (1.2%) (6,996,667)
Total net assets - 100.0% $577,309,977
    
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 18
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Currency Abbreviations
KRW Korean Won
    
Security Abbreviations and Legend
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
(A) Non-income producing security.
(B) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(C) All or a portion of this security is on loan as of 4-30-25.
(D) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(E) The rate shown is the annualized seven-day yield as of 4-30-25.
(F) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
The fund had the following sector composition as a percentage of total investments on 4-30-25:
Financials 25.5%
Information technology 17.1%
Consumer discretionary 15.0%
Communication services 9.4%
Materials 7.4%
Industrials 6.8%
Consumer staples 5.8%
Energy 5.3%
Utilities 3.2%
Health care 3.0%
Real estate 1.1%
Short-term investments 0.4%
TOTAL 100.0%
MULTIFACTOR LARGE CAP ETF
As of 4-30-25
  Shares or
Principal
Amount 		Value
COMMON STOCKS – 99.9%   $890,509,056
(Cost $709,931,858)    
Communication services – 7.3% 65,029,092
Diversified telecommunication services – 0.7%  
AT&T, Inc. 109,490 3,032,873
Frontier Communications Parent, Inc. (A) 1,672 60,610
GCI Liberty, Inc. (A)(B) 3,760 0
Verizon Communications, Inc. 78,738 3,469,196
Entertainment – 1.3%  
Electronic Arts, Inc. 8,763 1,271,424
Live Nation Entertainment, Inc. (A)(C) 4,673 618,939
Netflix, Inc. (A) 4,179 4,729,458
ROBLOX Corp., Class A (A) 4,677 313,593
Roku, Inc. (A) 3,037 207,063
Take-Two Interactive Software, Inc. (A) 5,172 1,206,731
The Walt Disney Company 22,135 2,013,178
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Communication services (continued)  
Entertainment (continued)  
TKO Group Holdings, Inc. 1,032 $168,123
Warner Brothers Discovery, Inc. (A) 65,647 569,159
Warner Music Group Corp., Class A 3,970 120,887
Interactive media and services – 4.2%  
Alphabet, Inc., Class A 102,800 16,324,640
Alphabet, Inc., Class C 27,233 4,381,517
Match Group, Inc. 6,383 189,320
Meta Platforms, Inc., Class A 29,695 16,302,555
Pinterest, Inc., Class A (A) 12,192 308,701
Reddit, Inc., Class A (A) 402 46,861
Snap, Inc., Class A (A) 19,803 157,632
Media – 0.8%  
Charter Communications, Inc., Class A (A) 2,057 806,056
Comcast Corp., Class A 66,873 2,287,057
EchoStar Corp., Class A (A)(C) 755 16,972
Fox Corp., Class A 11,748 584,933
Fox Corp., Class B 4,421 204,427
Liberty Broadband Corp., Series A (A) 495 44,080
Liberty Broadband Corp., Series C (A) 6,362 575,061
News Corp., Class A 13,628 369,591
News Corp., Class B (C) 4,328 135,986
Omnicom Group, Inc. 11,082 844,005
Paramount Global, Class A 239 5,416
Paramount Global, Class B 17,295 203,043
Sirius XM Holdings, Inc. 2,801 59,997
The Interpublic Group of Companies, Inc. 20,089 504,636
The New York Times Company, Class A 2,093 108,962
The Trade Desk, Inc., Class A (A) 9,243 495,702
Wireless telecommunication services – 0.3%  
T-Mobile US, Inc. 9,276 2,290,708
Consumer discretionary – 10.0% 88,821,043
Automobile components – 0.1%  
Aptiv PLC (A) 8,324 474,967
Autoliv, Inc. 3,836 357,630
Mobileye Global, Inc., Class A (A) 994 14,493
Automobiles – 0.9%  
Ford Motor Company 75,212 752,872
General Motors Company 32,486 1,469,667
Rivian Automotive, Inc., Class A (A)(C) 10,631 145,219
Tesla, Inc. (A) 21,149 5,967,402
Broadline retail – 2.8%  
Amazon.com, Inc. (A) 124,919 23,037,562
Coupang, Inc. (A) 9,461 221,104
eBay, Inc. 25,444 1,734,263
Distributors – 0.2%  
Genuine Parts Company 7,140 839,307
LKQ Corp. 10,575 404,071
Pool Corp. (C) 1,349 395,446
19 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Diversified consumer services – 0.1%  
Bright Horizons Family Solutions, Inc. (A) 384 $48,161
Duolingo, Inc. (A) 414 161,245
H&R Block, Inc. 940 56,748
Service Corp. International 7,993 638,641
Hotels, restaurants and leisure – 2.3%  
Airbnb, Inc., Class A (A) 2,028 247,254
Aramark 10,852 362,782
Booking Holdings, Inc. 457 2,330,371
Carnival Corp. (A) 29,838 547,229
Cava Group, Inc. (A) 524 48,433
Chipotle Mexican Grill, Inc. (A) 31,220 1,577,234
Churchill Downs, Inc. 2,471 223,403
Darden Restaurants, Inc. 6,064 1,216,681
Domino’s Pizza, Inc. 1,187 582,069
DoorDash, Inc., Class A (A) 4,599 887,101
DraftKings, Inc., Class A (A) 8,304 276,440
Dutch Bros, Inc., Class A (A) 460 27,480
Expedia Group, Inc. 5,219 819,018
Hilton Worldwide Holdings, Inc. 4,921 1,109,587
Hyatt Hotels Corp., Class A 1,620 182,542
Las Vegas Sands Corp. 7,591 278,362
Light & Wonder, Inc. (A) 2,568 219,256
Marriott International, Inc., Class A 4,634 1,105,580
McDonald’s Corp. 9,439 3,017,176
Norwegian Cruise Line Holdings, Ltd. (A) 4,202 67,358
Royal Caribbean Cruises, Ltd. 8,859 1,903,888
Starbucks Corp. 15,454 1,237,093
Texas Roadhouse, Inc. 2,086 346,193
Wyndham Hotels & Resorts, Inc. 509 43,418
Wynn Resorts, Ltd. 3,135 251,772
Yum! Brands, Inc. 7,858 1,182,158
Household durables – 0.7%  
D.R. Horton, Inc. 9,292 1,173,951
Garmin, Ltd. 5,833 1,090,013
Lennar Corp., A Shares 6,211 674,577
Lennar Corp., B Shares (C) 400 41,348
Mohawk Industries, Inc. (A) 352 37,435
NVR, Inc. (A) 189 1,346,767
PulteGroup, Inc. 10,997 1,128,072
SharkNinja, Inc. (A) 1,074 86,457
Somnigroup International, Inc. (C) 4,439 271,045
Toll Brothers, Inc. 2,560 258,227
TopBuild Corp. (A) 793 234,538
Leisure products – 0.0%  
Hasbro, Inc. 6,509 402,907
Specialty retail – 2.4%  
AutoZone, Inc. (A) 351 1,320,673
Best Buy Company, Inc. 13,884 925,924
Burlington Stores, Inc. (A) 2,293 516,017
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Specialty retail (continued)  
CarMax, Inc. (A) 7,427 $480,304
Carvana Company (A) 2,311 564,693
Chewy, Inc., Class A (A) 2,116 79,350
Dick’s Sporting Goods, Inc. 3,210 602,645
Floor & Decor Holdings, Inc., Class A (A) 3,607 257,684
GameStop Corp., Class A (A) 5,439 151,531
Lithia Motors, Inc. 1,096 320,865
Lowe’s Companies, Inc. 7,837 1,752,040
Murphy USA, Inc. 472 235,325
O’Reilly Automotive, Inc. (A) 1,185 1,677,012
Penske Automotive Group, Inc. 662 103,054
Ross Stores, Inc. 10,672 1,483,408
The Gap, Inc. 5,079 111,230
The Home Depot, Inc. 12,235 4,410,595
The TJX Companies, Inc. 19,437 2,501,153
Tractor Supply Company 29,131 1,474,611
Ulta Beauty, Inc. (A) 2,634 1,042,116
Williams-Sonoma, Inc. 7,385 1,140,761
Textiles, apparel and luxury goods – 0.5%  
Amer Sports, Inc. (A) 643 15,593
Birkenstock Holding PLC (A) 634 32,607
Deckers Outdoor Corp. (A) 6,938 768,939
Lululemon Athletica, Inc. (A) 3,424 927,116
NIKE, Inc., Class B 18,370 1,036,068
Ralph Lauren Corp. 1,517 341,249
Skechers USA, Inc., Class A (A) 3,831 183,965
Tapestry, Inc. 11,050 780,683
VF Corp. 2,510 29,819
Consumer staples – 6.2% 54,924,969
Beverages – 1.1%  
Brown-Forman Corp., Class A (C) 2,117 73,269
Brown-Forman Corp., Class B 8,030 279,765
Coca-Cola Consolidated, Inc. 138 187,102
Constellation Brands, Inc., Class A 4,805 901,130
Keurig Dr. Pepper, Inc. 19,623 678,760
Molson Coors Beverage Company, Class B 6,912 397,647
Monster Beverage Corp. (A) 15,497 931,680
PepsiCo, Inc. 19,341 2,622,253
Primo Brands Corp. 909 29,697
The Coca-Cola Company 52,198 3,786,965
Consumer staples distribution and retail – 2.4%  
Albertsons Companies, Inc., Class A 13,115 288,268
BJ’s Wholesale Club Holdings, Inc. (A) 5,167 607,433
Casey’s General Stores, Inc. 1,125 520,414
Costco Wholesale Corp. 5,139 5,110,736
Dollar General Corp. 6,483 607,392
Dollar Tree, Inc. (A) 9,608 785,646
Maplebear, Inc. (A) 1,861 74,235
Performance Food Group Company (A) 4,917 396,605
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 20
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer staples (continued)  
Consumer staples distribution and retail (continued)  
Sprouts Farmers Market, Inc. (A) 1,184 $202,464
Sysco Corp. 16,985 1,212,729
Target Corp. 11,872 1,148,022
The Kroger Company 41,559 3,000,975
U.S. Foods Holding Corp. (A) 9,136 599,870
Walgreens Boots Alliance, Inc. 19,824 217,469
Walmart, Inc. 70,412 6,847,567
Food products – 1.0%  
Archer-Daniels-Midland Company 14,354 685,404
Bunge Global SA 6,160 484,915
Conagra Brands, Inc. 18,269 451,427
General Mills, Inc. 19,204 1,089,635
Hormel Foods Corp. 9,734 291,047
Ingredion, Inc. 1,266 168,150
Lamb Weston Holdings, Inc. 5,452 287,920
McCormick & Company, Inc. 9,981 765,143
Mondelez International, Inc., Class A 23,211 1,581,365
Pilgrim’s Pride Corp. 785 42,845
The Campbell’s Company 9,004 328,286
The Hershey Company 4,565 763,222
The J.M. Smucker Company 4,030 468,568
The Kraft Heinz Company 19,772 575,365
Tyson Foods, Inc., Class A 10,376 635,426
Household products – 1.1%  
Church & Dwight Company, Inc. 8,898 883,927
Colgate-Palmolive Company 14,139 1,303,474
Kimberly-Clark Corp. 8,263 1,088,898
The Clorox Company 5,107 726,726
The Procter & Gamble Company 33,398 5,429,513
Personal care products – 0.1%  
BellRing Brands, Inc. (A) 647 49,910
Kenvue, Inc. 35,965 848,774
The Estee Lauder Companies, Inc., Class A 2,917 174,903
Tobacco – 0.5%  
Altria Group, Inc. 24,920 1,474,018
Philip Morris International, Inc. 16,445 2,818,015
Energy – 3.6% 32,489,321
Energy equipment and services – 0.2%  
Baker Hughes Company 27,810 984,474
Halliburton Company 25,621 507,808
Schlumberger, Ltd. 16,997 565,150
TechnipFMC PLC 8,040 226,487
Oil, gas and consumable fuels – 3.4%  
Antero Midstream Corp. 1,842 30,485
Antero Resources Corp. (A) 5,672 197,556
APA Corp. 7,358 114,343
Cheniere Energy, Inc. 7,119 1,645,272
Chevron Corp. 24,938 3,393,064
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Energy (continued)  
Oil, gas and consumable fuels (continued)  
ConocoPhillips 25,702 $2,290,562
Coterra Energy, Inc. 30,351 745,421
Devon Energy Corp. 13,541 411,782
Diamondback Energy, Inc. 8,056 1,063,473
DT Midstream, Inc. 436 42,379
EOG Resources, Inc. 14,847 1,638,070
EQT Corp. 13,109 648,109
Expand Energy Corp. 4,630 481,057
Exxon Mobil Corp. 57,544 6,078,373
Hess Corp. 8,042 1,037,820
Kinder Morgan, Inc. 34,642 911,085
Kinetik Holdings, Inc. 289 11,947
Marathon Petroleum Corp. 9,021 1,239,576
Occidental Petroleum Corp. 17,245 679,625
ONEOK, Inc. 11,439 939,828
Ovintiv, Inc. 8,811 295,873
Permian Resources Corp. 4,011 47,330
Phillips 66 8,463 880,660
Range Resources Corp. 4,532 153,771
Targa Resources Corp. 6,974 1,191,857
Texas Pacific Land Corp. 540 695,990
The Williams Companies, Inc. 25,118 1,471,161
Valero Energy Corp. 16,099 1,868,933
Financials – 16.4% 146,222,656
Banks – 3.7%  
Bank of America Corp. 97,154 3,874,502
Citigroup, Inc. 32,557 2,226,248
Citizens Financial Group, Inc. 19,089 704,193
Comerica, Inc. 1,053 56,599
Commerce Bancshares, Inc. 1,679 101,982
Cullen/Frost Bankers, Inc. 429 49,966
East West Bancorp, Inc. 6,132 524,593
Fifth Third Bancorp 33,842 1,216,281
First Citizens BancShares, Inc., Class A 476 846,871
First Horizon Corp. 17,650 319,112
Huntington Bancshares, Inc. 58,584 851,226
JPMorgan Chase & Co. 42,115 10,302,171
KeyCorp 43,863 650,927
M&T Bank Corp. 6,580 1,117,021
Pinnacle Financial Partners, Inc. 609 61,046
Regions Financial Corp. 51,151 1,043,992
SouthState Corp. 724 62,829
The PNC Financial Services Group, Inc. 8,331 1,338,708
Truist Financial Corp. 35,619 1,365,632
U.S. Bancorp 31,592 1,274,421
Webster Financial Corp. 5,537 261,900
Wells Fargo & Company 64,755 4,598,253
Western Alliance Bancorp 1,591 110,909
Wintrust Financial Corp. 529 58,809
21 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Capital markets – 3.8%  
Ameriprise Financial, Inc. 2,568 $1,209,579
Ares Management Corp., Class A 4,536 691,876
BlackRock, Inc. 1,596 1,459,159
Cboe Global Markets, Inc. 2,665 591,097
CME Group, Inc. 5,185 1,436,660
Coinbase Global, Inc., Class A (A) 2,410 488,965
Evercore, Inc., Class A 417 85,606
FactSet Research Systems, Inc. 1,432 618,939
Franklin Resources, Inc. 11,865 222,587
Hamilton Lane, Inc., Class A 358 55,307
Houlihan Lokey, Inc. 1,187 192,389
Interactive Brokers Group, Inc., Class A 2,049 352,121
Intercontinental Exchange, Inc. 10,178 1,709,599
Jefferies Financial Group, Inc. 4,867 227,435
KKR & Company, Inc. 9,560 1,092,421
LPL Financial Holdings, Inc. 3,042 972,801
MarketAxess Holdings, Inc. 1,302 288,510
Moody’s Corp. 3,556 1,611,295
Morgan Stanley 23,008 2,655,583
Morningstar, Inc. 860 244,859
MSCI, Inc. 1,894 1,032,438
Nasdaq, Inc. 14,287 1,088,812
Northern Trust Corp. 8,877 834,260
Raymond James Financial, Inc. 8,073 1,106,324
Robinhood Markets, Inc., Class A (A) 15,509 761,647
S&P Global, Inc. 4,474 2,237,224
SEI Investments Company 5,818 455,491
State Street Corp. 13,094 1,153,581
Stifel Financial Corp. 2,646 226,736
T. Rowe Price Group, Inc. 8,535 755,774
The Bank of New York Mellon Corp. 23,662 1,902,661
The Blackstone Group, Inc. 7,586 999,152
The Carlyle Group, Inc. 5,782 223,416
The Charles Schwab Corp. 21,380 1,740,332
The Goldman Sachs Group, Inc. 5,477 2,998,931
Tradeweb Markets, Inc., Class A 2,626 363,176
Consumer finance – 1.1%  
Ally Financial, Inc. 17,533 572,628
American Express Company 10,253 2,731,502
Capital One Financial Corp. 11,808 2,128,510
Discover Financial Services 13,604 2,485,043
SoFi Technologies, Inc. (A) 11,144 139,411
Synchrony Financial 25,053 1,301,503
Financial services – 3.9%  
Affirm Holdings, Inc. (A) 2,890 143,806
Apollo Global Management, Inc. 9,544 1,302,565
Berkshire Hathaway, Inc., Class B (A) 21,284 11,349,693
Block, Inc. (A) 8,827 516,115
Corebridge Financial, Inc. 8,381 248,329
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Financial services (continued)  
Corpay, Inc. (A) 3,182 $1,035,327
Equitable Holdings, Inc. 16,428 812,365
Fidelity National Information Services, Inc. 15,251 1,202,999
Fiserv, Inc. (A) 10,624 1,960,872
Global Payments, Inc. 8,180 624,216
Jack Henry & Associates, Inc. 2,871 497,918
Mastercard, Inc., Class A 11,318 6,202,943
PayPal Holdings, Inc. (A) 16,202 1,066,740
Rocket Companies, Inc., Class A (C) 2,196 28,350
Shift4 Payments, Inc., Class A (A)(C) 371 30,348
Toast, Inc., Class A (A) 5,993 213,231
UWM Holdings Corp. (C) 10 47
Visa, Inc., Class A 21,900 7,566,450
Insurance – 3.9%  
Aflac, Inc. 14,027 1,524,454
American Financial Group, Inc. 3,152 399,232
American International Group, Inc. 25,518 2,080,227
Aon PLC, Class A 4,022 1,426,965
Arch Capital Group, Ltd. 15,355 1,392,391
Arthur J. Gallagher & Company 5,463 1,751,929
Assurant, Inc. 1,900 366,206
Brown & Brown, Inc. 8,756 968,414
Chubb, Ltd. 6,117 1,749,951
Cincinnati Financial Corp. 6,359 885,236
CNA Financial Corp. 1,165 56,106
Erie Indemnity Company, Class A 861 308,772
Everest Group, Ltd. 1,735 622,570
Fidelity National Financial, Inc. 12,711 814,140
Globe Life, Inc. 4,584 565,391
Kinsale Capital Group, Inc. 527 229,382
Loews Corp. 11,327 983,523
Markel Group, Inc. (A) 533 969,314
Marsh & McLennan Companies, Inc. 7,902 1,781,664
MetLife, Inc. 13,394 1,009,506
Old Republic International Corp. 9,761 367,014
Primerica, Inc. 1,027 269,146
Principal Financial Group, Inc. 10,661 790,513
Prudential Financial, Inc. 15,998 1,643,155
Reinsurance Group of America, Inc. 2,772 519,223
RenaissanceRe Holdings, Ltd. 1,683 407,168
The Allstate Corp. 8,693 1,724,604
The Hartford Financial Services Group, Inc. 19,117 2,345,082
The Progressive Corp. 7,442 2,096,709
The Travelers Companies, Inc. 7,677 2,027,726
Unum Group 6,555 509,061
W.R. Berkley Corp. 13,990 1,002,943
Willis Towers Watson PLC 4,448 1,369,094
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 22
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care – 10.8% $96,172,878
Biotechnology – 1.7%  
AbbVie, Inc. 21,838 4,260,594
Alnylam Pharmaceuticals, Inc. (A) 2,432 640,200
Amgen, Inc. 9,174 2,668,900
Biogen, Inc. (A) 4,990 604,189
BioMarin Pharmaceutical, Inc. (A) 5,936 378,064
Exact Sciences Corp. (A) 3,578 163,300
Exelixis, Inc. (A) 2,330 91,220
Gilead Sciences, Inc. 23,718 2,526,916
Incyte Corp. (A) 4,810 301,395
Insmed, Inc. (A) 1,215 87,480
Moderna, Inc. (A) 5,679 162,079
Natera, Inc. (A) 1,489 224,735
Neurocrine Biosciences, Inc. (A) 2,614 281,502
Regeneron Pharmaceuticals, Inc. 1,699 1,017,293
Roivant Sciences, Ltd. (A)(C) 2,893 33,617
Sarepta Therapeutics, Inc. (A) 1,510 94,224
Summit Therapeutics, Inc. (A) 658 15,871
United Therapeutics Corp. (A) 1,570 475,851
Vaxcyte, Inc. (A) 1,813 64,978
Vertex Pharmaceuticals, Inc. (A) 3,051 1,554,485
Health care equipment and supplies – 2.4%  
Abbott Laboratories 24,501 3,203,506
ABIOMED, Inc. (A)(B) 1,170 18,158
Align Technology, Inc. (A) 1,215 210,560
Baxter International, Inc. 15,057 469,327
Becton, Dickinson and Company 5,461 1,130,918
Boston Scientific Corp. (A) 22,903 2,356,032
DexCom, Inc. (A) 9,862 703,950
Edwards Lifesciences Corp. (A) 11,288 852,131
GE HealthCare Technologies, Inc. 14,675 1,032,093
Globus Medical, Inc., Class A (A) 1,423 102,129
Hologic, Inc. (A) 11,236 653,935
IDEXX Laboratories, Inc. (A) 2,241 969,569
Insulet Corp. (A) 1,691 426,622
Intuitive Surgical, Inc. (A) 4,042 2,084,864
Masimo Corp. (A) 246 39,596
Medtronic PLC 16,905 1,432,868
Penumbra, Inc. (A) 433 126,800
ResMed, Inc. 5,363 1,268,832
Solventum Corp. (A) 3,601 238,098
STERIS PLC 3,529 793,107
Stryker Corp. 4,545 1,699,466
The Cooper Companies, Inc. (A) 7,000 571,690
Zimmer Biomet Holdings, Inc. 7,400 762,570
Health care providers and services – 2.7%  
Cardinal Health, Inc. 9,994 1,412,052
Cencora, Inc. 6,277 1,837,090
Centene Corp. (A) 17,175 1,027,924
Chemed Corp. 433 251,794
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care (continued)  
Health care providers and services (continued)  
CVS Health Corp. 23,689 $1,580,293
DaVita, Inc. (A) 1,952 276,306
Elevance Health, Inc. 4,440 1,867,375
Encompass Health Corp. 2,512 293,879
HCA Healthcare, Inc. 2,605 898,933
HealthEquity, Inc. (A) 496 42,517
Henry Schein, Inc. (A) 6,551 425,618
Hims & Hers Health, Inc. (A)(C) 693 22,938
Humana, Inc. 3,443 902,892
Labcorp Holdings, Inc. 4,474 1,078,279
McKesson Corp. 2,562 1,826,168
Molina Healthcare, Inc. (A) 2,549 833,548
Quest Diagnostics, Inc. 7,109 1,266,966
Tenet Healthcare Corp. (A) 2,853 407,836
The Cigna Corp. 5,684 1,932,787
The Ensign Group, Inc. 407 52,499
UnitedHealth Group, Inc. 12,233 5,033,146
Universal Health Services, Inc., Class B 3,718 658,346
Health care technology – 0.1%  
Doximity, Inc., Class A (A) 605 34,412
Veeva Systems, Inc., Class A (A) 3,141 734,020
Life sciences tools and services – 1.2%  
Agilent Technologies, Inc. 9,688 1,042,429
Avantor, Inc. (A) 21,188 275,232
Bio-Rad Laboratories, Inc., Class A (A) 740 180,619
Bio-Techne Corp. 4,099 206,385
Charles River Laboratories International, Inc. (A) 1,801 213,635
Danaher Corp. 8,700 1,734,171
ICON PLC (A) 601 91,015
Illumina, Inc. (A) 2,577 199,975
IQVIA Holdings, Inc. (A) 6,489 1,006,249
Medpace Holdings, Inc. (A) 531 163,755
Mettler-Toledo International, Inc. (A) 857 917,478
Repligen Corp. (A) 1,209 166,830
Revvity, Inc. 4,773 445,941
Tempus AI, Inc. (A) 330 17,051
Thermo Fisher Scientific, Inc. 5,586 2,396,394
Waters Corp. (A) 2,529 879,409
West Pharmaceutical Services, Inc. 2,414 510,054
Pharmaceuticals – 2.7%  
Bristol-Myers Squibb Company 34,965 1,755,243
Eli Lilly & Company 10,796 9,705,064
Jazz Pharmaceuticals PLC (A) 563 65,848
Johnson & Johnson 35,993 5,626,066
Merck & Company, Inc. 34,867 2,970,668
Pfizer, Inc. 91,082 2,223,312
Royalty Pharma PLC, Class A 9,808 321,899
Viatris, Inc. 39,714 334,392
Zoetis, Inc. 7,880 1,232,432
23 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials – 12.1% $107,903,961
Aerospace and defense – 2.0%  
Axon Enterprise, Inc. (A) 1,258 771,531
BWX Technologies, Inc. 1,568 171,100
Curtiss-Wright Corp. 955 329,370
General Dynamics Corp. 4,780 1,300,734
General Electric Company 12,633 2,546,055
HEICO Corp. 1,105 277,090
HEICO Corp., Class A 2,035 408,893
Howmet Aerospace, Inc. 8,342 1,156,034
L3Harris Technologies, Inc. 5,741 1,263,135
Lockheed Martin Corp. 3,610 1,724,678
Northrop Grumman Corp. 2,617 1,273,171
Rocket Lab USA, Inc. (A)(C) 1,318 28,719
RTX Corp. 23,011 2,902,377
Standardaero, Inc. (A) 521 14,077
Textron, Inc. 10,036 706,233
The Boeing Company (A) 6,550 1,200,222
TransDigm Group, Inc. 1,124 1,588,291
Woodward, Inc. 1,376 258,096
Air freight and logistics – 0.4%  
C.H. Robinson Worldwide, Inc. 5,865 523,275
Expeditors International of Washington, Inc. 7,066 776,624
FedEx Corp. 5,472 1,150,926
United Parcel Service, Inc., Class B 9,385 894,391
Building products – 1.1%  
A.O. Smith Corp. 4,852 329,257
Advanced Drainage Systems, Inc. 2,243 254,558
Allegion PLC 4,813 669,970
Builders FirstSource, Inc. (A) 6,578 786,926
Carlisle Companies, Inc. 2,580 979,058
Carrier Global Corp. 19,196 1,200,518
Fortune Brands Innovations, Inc. 5,857 315,224
Johnson Controls International PLC 16,271 1,365,137
Lennox International, Inc. 1,279 699,293
Masco Corp. 8,801 533,429
Owens Corning 5,238 761,658
Trane Technologies PLC 5,418 2,076,774
Commercial services and supplies – 0.9%  
Cintas Corp. 8,145 1,724,134
Clean Harbors, Inc. (A) 1,572 336,314
Copart, Inc. (A) 18,780 1,146,143
Republic Services, Inc. 5,909 1,481,682
Rollins, Inc. 9,503 542,906
Tetra Tech, Inc. 7,408 231,056
Veralto Corp. 5,308 509,037
Waste Management, Inc. 10,840 2,529,622
Construction and engineering – 0.3%  
AECOM 4,897 483,089
API Group Corp. (A) 4,521 171,029
Comfort Systems USA, Inc. 691 274,707
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Construction and engineering (continued)  
EMCOR Group, Inc. 1,411 $565,388
MasTec, Inc. (A) 798 101,601
Quanta Services, Inc. 5,057 1,480,133
Electrical equipment – 1.1%  
Acuity, Inc. 462 112,548
AMETEK, Inc. 8,782 1,489,252
Eaton Corp. PLC 6,664 1,961,682
Emerson Electric Company 13,164 1,383,668
GE Vernova, Inc. 3,291 1,220,369
Generac Holdings, Inc. (A) 782 89,445
Hubbell, Inc. 2,111 766,673
nVent Electric PLC 3,923 215,412
Regal Rexnord Corp. 1,867 197,603
Rockwell Automation, Inc. 4,802 1,189,359
Vertiv Holdings Company, Class A 10,099 862,253
Ground transportation – 1.0%  
CSX Corp. 48,287 1,355,416
J.B. Hunt Transport Services, Inc. 4,730 617,643
Knight-Swift Transportation Holdings, Inc. 5,330 208,776
Norfolk Southern Corp. 6,473 1,450,276
Old Dominion Freight Line, Inc. 4,759 729,460
Saia, Inc. (A) 531 129,564
Uber Technologies, Inc. (A) 19,270 1,561,063
U-Haul Holding Company (A) 401 24,617
U-Haul Holding Company, Series N 3,854 211,199
Union Pacific Corp. 10,428 2,248,902
XPO, Inc. (A) 2,721 288,753
Industrial conglomerates – 0.4%  
3M Company 9,824 1,364,652
Honeywell International, Inc. 10,267 2,161,204
Machinery – 2.6%  
Allison Transmission Holdings, Inc. 1,652 152,380
Caterpillar, Inc. 9,484 2,933,117
Chart Industries, Inc. (A) 361 48,728
CNH Industrial NV 15,425 178,467
Crane Company 611 98,359
Cummins, Inc. 6,032 1,772,443
Deere & Company 5,196 2,408,658
Donaldson Company, Inc. 3,548 233,210
Dover Corp. 6,510 1,110,932
Fortive Corp. 11,985 835,235
Graco, Inc. 5,759 469,992
IDEX Corp. 2,821 490,769
Illinois Tool Works, Inc. 6,682 1,603,079
Ingersoll Rand, Inc. 13,153 992,131
ITT, Inc. 2,224 304,732
Lincoln Electric Holdings, Inc. 2,188 385,526
Mueller Industries, Inc. 1,629 119,829
Nordson Corp. 1,836 348,051
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 24
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Machinery (continued)  
Otis Worldwide Corp. 11,286 $1,086,503
PACCAR, Inc. 16,563 1,494,148
Parker-Hannifin Corp. 3,210 1,942,243
Pentair PLC 6,324 573,777
RBC Bearings, Inc. (A) 459 150,814
Snap-on, Inc. 2,307 723,960
Stanley Black & Decker, Inc. 6,441 386,589
Symbotic, Inc. (A)(C) 334 7,208
The Middleby Corp. (A) 350 46,673
The Toro Company 4,002 273,257
Wabtec Corp. 6,182 1,142,063
Xylem, Inc. 7,731 932,127
Passenger airlines – 0.1%  
Alaska Air Group, Inc. (A) 275 12,174
American Airlines Group, Inc. (A)(C) 1,348 13,413
Delta Air Lines, Inc. 8,393 349,401
Southwest Airlines Company 6,777 189,485
United Airlines Holdings, Inc. (A) 4,352 299,505
Professional services – 1.3%  
Automatic Data Processing, Inc. 6,626 1,991,776
Booz Allen Hamilton Holding Corp. 5,522 662,750
Broadridge Financial Solutions, Inc. 4,397 1,065,833
CACI International, Inc., Class A (A) 553 253,202
Dayforce, Inc. (A) 4,877 282,232
Equifax, Inc. 4,668 1,214,287
Genpact, Ltd. 1,250 62,825
Jacobs Solutions, Inc. 3,073 380,437
Leidos Holdings, Inc. 5,607 825,238
Paychex, Inc. 7,674 1,128,999
Paycom Software, Inc. 1,655 374,675
Paylocity Holding Corp. (A) 1,089 209,197
SS&C Technologies Holdings, Inc. 8,464 639,878
TransUnion 6,744 559,482
UL Solutions, Inc., Class A 493 28,195
Verisk Analytics, Inc. 5,539 1,641,926
Trading companies and distributors – 0.9%  
Applied Industrial Technologies, Inc. 269 65,442
Core & Main, Inc., Class A (A) 3,917 206,348
Fastenal Company 21,303 1,724,904
Ferguson Enterprises, Inc. 5,352 908,020
FTAI Aviation, Ltd. 1,239 132,709
United Rentals, Inc. 4,169 2,632,515
W.W. Grainger, Inc. 1,343 1,375,648
Watsco, Inc. (C) 1,112 511,342
WESCO International, Inc. 1,618 263,669
Information technology – 23.0% 205,292,494
Communications equipment – 0.9%  
Arista Networks, Inc. (A) 16,542 1,360,910
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Communications equipment (continued)  
Ciena Corp. (A) 2,628 $176,496
Cisco Systems, Inc. 57,865 3,340,546
F5, Inc. (A) 2,536 671,381
Juniper Networks, Inc. 15,286 555,188
Motorola Solutions, Inc. 3,509 1,545,329
Ubiquiti, Inc. 196 63,984
Electronic equipment, instruments and components – 1.3%  
Amphenol Corp., Class A 34,399 2,647,003
CDW Corp. 5,204 835,554
Coherent Corp. (A) 2,811 180,804
Corning, Inc. 33,936 1,506,080
Flex, Ltd. (A) 20,342 698,544
Jabil, Inc. 5,859 858,695
Keysight Technologies, Inc. (A) 7,391 1,074,651
TD SYNNEX Corp. 1,547 171,408
TE Connectivity PLC 11,782 1,724,649
Teledyne Technologies, Inc. (A) 1,561 727,473
Trimble, Inc. (A) 8,810 547,453
Zebra Technologies Corp., Class A (A) 2,013 503,894
IT services – 1.7%  
Accenture PLC, Class A 9,344 2,795,258
Akamai Technologies, Inc. (A) 6,733 542,545
Amdocs, Ltd. 6,014 532,720
Cloudflare, Inc., Class A (A) 5,777 697,746
Cognizant Technology Solutions Corp., Class A 18,516 1,362,222
EPAM Systems, Inc. (A) 1,660 260,471
Gartner, Inc. (A) 3,204 1,349,140
GoDaddy, Inc., Class A (A) 4,612 868,578
IBM Corp. 16,668 4,030,656
Kyndryl Holdings, Inc. (A) 2,708 87,793
MongoDB, Inc. (A) 1,347 231,913
Okta, Inc. (A) 3,820 428,451
Snowflake, Inc., Class A (A) 3,073 490,113
Twilio, Inc., Class A (A) 4,636 448,348
VeriSign, Inc. (A) 3,341 942,563
Semiconductors and semiconductor equipment – 6.9%  
Advanced Micro Devices, Inc. (A) 21,282 2,071,803
Analog Devices, Inc. 8,826 1,720,364
Applied Materials, Inc. 16,492 2,485,509
Astera Labs, Inc. (A) 731 47,742
Broadcom, Inc. 55,322 10,647,825
Credo Technology Group Holding, Ltd. (A) 698 30,049
Enphase Energy, Inc. (A) 3,274 145,988
Entegris, Inc. 5,072 401,297
First Solar, Inc. (A) 3,308 416,213
GlobalFoundries, Inc. (A)(C) 1,824 63,968
Intel Corp. 69,149 1,389,895
KLA Corp. 3,013 2,117,205
Lam Research Corp. 25,467 1,825,220
25 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Semiconductors and semiconductor equipment (continued)  
MACOM Technology Solutions Holdings, Inc. (A) 404 $41,915
Marvell Technology, Inc. 23,108 1,348,814
Microchip Technology, Inc. 22,864 1,053,573
Micron Technology, Inc. 19,846 1,527,150
Monolithic Power Systems, Inc. 1,362 807,802
NVIDIA Corp. 234,467 25,538,146
NXP Semiconductors NV 5,691 1,048,908
ON Semiconductor Corp. (A) 14,961 593,952
Qualcomm, Inc. 19,413 2,882,054
Skyworks Solutions, Inc. 7,327 470,980
Teradyne, Inc. 7,138 529,711
Texas Instruments, Inc. 15,214 2,435,001
Universal Display Corp. 906 113,821
Software – 7.9%  
Adobe, Inc. (A) 5,091 1,909,023
ANSYS, Inc. (A) 3,106 999,759
Appfolio, Inc., Class A (A) 216 44,608
AppLovin Corp., Class A (A) 3,943 1,061,889
Atlassian Corp., Class A (A) 1,697 387,442
Aurora Innovation, Inc. (A)(C) 11,583 83,861
Autodesk, Inc. (A) 3,857 1,057,782
Bentley Systems, Inc., Class B 4,411 189,629
Cadence Design Systems, Inc. (A) 5,801 1,727,190
Confluent, Inc., Class A (A) 1,337 31,834
Crowdstrike Holdings, Inc., Class A (A) 3,092 1,326,066
Datadog, Inc., Class A (A) 5,656 577,817
DocuSign, Inc. (A) 4,389 358,801
Dropbox, Inc., Class A (A) 7,725 220,549
Dynatrace, Inc. (A) 7,519 353,167
Elastic NV (A) 857 73,873
Fair Isaac Corp. (A) 864 1,719,084
Fortinet, Inc. (A) 13,955 1,447,971
Gen Digital, Inc. 25,399 657,072
Gitlab, Inc., Class A (A)(C) 1,782 83,166
Guidewire Software, Inc. (A) 1,758 359,986
HubSpot, Inc. (A) 1,213 741,750
Intuit, Inc. 3,932 2,467,212
Klaviyo, Inc., Class A (A) 434 13,211
Manhattan Associates, Inc. (A) 1,899 336,864
Microsoft Corp. 85,182 33,669,029
Nutanix, Inc., Class A (A) 3,179 218,397
Oracle Corp. 22,673 3,190,545
Palantir Technologies, Inc., Class A (A) 24,108 2,855,352
Palo Alto Networks, Inc. (A) 8,479 1,584,979
Procore Technologies, Inc. (A) 2,146 137,537
PTC, Inc. (A) 3,693 572,304
Roper Technologies, Inc. 2,212 1,238,897
Rubrik, Inc., Class A (A) 263 18,549
Salesforce, Inc. 10,939 2,939,419
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Software (continued)  
Samsara, Inc., Class A (A) 3,966 $157,292
ServiceNow, Inc. (A) 1,898 1,812,609
Synopsys, Inc. (A) 3,443 1,580,371
Tyler Technologies, Inc. (A) 1,476 801,911
Unity Software, Inc. (A)(C) 1,934 40,749
Workday, Inc., Class A (A) 3,216 787,920
Zoom Communications, Inc., Class A (A) 5,971 462,991
Zscaler, Inc. (A) 1,984 448,721
Technology hardware, storage and peripherals – 4.3%  
Apple, Inc. 157,672 33,505,300
Dell Technologies, Inc., Class C 5,156 473,115
Hewlett Packard Enterprise Company 46,356 751,894
HP, Inc. 33,906 866,976
NetApp, Inc. 11,289 1,013,188
Pure Storage, Inc., Class A (A) 6,794 308,176
Seagate Technology Holdings PLC 8,069 734,521
Super Micro Computer, Inc. (A)(C) 8,824 281,133
Western Digital Corp. (A) 13,624 597,549
Materials – 3.3% 29,824,329
Chemicals – 1.7%  
Air Products & Chemicals, Inc. 4,331 1,174,091
Albemarle Corp. (C) 3,592 210,312
Axalta Coating Systems, Ltd. (A) 1,783 57,948
CF Industries Holdings, Inc. 9,339 731,897
Corteva, Inc. 21,305 1,320,697
Dow, Inc. 27,910 853,767
DuPont de Nemours, Inc. 14,765 974,342
Eastman Chemical Company 6,033 464,541
Ecolab, Inc. 4,936 1,241,058
International Flavors & Fragrances, Inc. 8,028 629,877
Linde PLC 6,004 2,721,193
LyondellBasell Industries NV, Class A 12,641 735,833
PPG Industries, Inc. 9,512 1,035,476
RPM International, Inc. 5,290 564,708
The Mosaic Company 15,069 458,098
The Sherwin-Williams Company 5,590 1,972,823
Westlake Corp. 1,706 157,686
Construction materials – 0.3%  
CRH PLC 2,620 250,000
Eagle Materials, Inc. 471 106,630
Martin Marietta Materials, Inc. 2,277 1,193,102
Vulcan Materials Company 4,598 1,206,193
Containers and packaging – 0.6%  
Amcor PLC 75,394 693,625
AptarGroup, Inc. 2,456 368,277
Avery Dennison Corp. 3,112 532,494
Ball Corp. 13,421 697,087
Crown Holdings, Inc. 5,666 545,806
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 26
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Materials (continued)  
Containers and packaging (continued)  
Graphic Packaging Holding Company 10,305 $260,820
International Paper Company 18,774 857,596
Packaging Corp. of America 4,483 832,090
Smurfit WestRock PLC 7,022 295,064
Metals and mining – 0.7%  
Alcoa Corp. 3,060 75,062
ATI, Inc. (A) 1,722 93,642
Carpenter Technology Corp. 244 47,729
Freeport-McMoRan, Inc. 31,782 1,145,105
Newmont Corp. 27,396 1,443,221
Nucor Corp. 10,862 1,296,597
Reliance, Inc. 3,004 865,843
Royal Gold, Inc. 740 135,205
Southern Copper Corp. 2,299 205,806
Steel Dynamics, Inc. 9,318 1,208,638
U.S. Steel Corp. 3,760 164,350
Real estate – 2.9% 25,738,800
Diversified REITs – 0.1%  
WP Carey, Inc. 5,283 329,871
Health care REITs – 0.4%  
Alexandria Real Estate Equities, Inc. 4,038 293,401
Healthpeak Properties, Inc. 15,124 269,812
Omega Healthcare Investors, Inc. 4,972 194,157
Ventas, Inc. 10,664 747,333
Welltower, Inc. 9,831 1,500,112
Hotel and resort REITs – 0.0%  
Host Hotels & Resorts, Inc. 18,960 267,715
Industrial REITs – 0.2%  
EastGroup Properties, Inc. 1,051 171,754
Lineage, Inc. 253 12,202
Prologis, Inc. 12,126 1,239,277
Rexford Industrial Realty, Inc. 3,985 131,904
Office REITs – 0.0%  
BXP, Inc. 4,070 259,381
Real estate management and development – 0.4%  
CBRE Group, Inc., Class A (A) 15,793 1,929,589
CoStar Group, Inc. (A) 10,900 808,453
Jones Lang LaSalle, Inc. (A) 2,327 529,183
Zillow Group, Inc., Class A (A) 847 55,885
Zillow Group, Inc., Class C (A) 5,139 346,009
Residential REITs – 0.5%  
American Homes 4 Rent, Class A 7,936 296,727
AvalonBay Communities, Inc. 3,703 777,556
Camden Property Trust 2,720 309,536
Equity LifeStyle Properties, Inc. 4,495 291,186
Equity Residential 9,450 663,957
Essex Property Trust, Inc. 1,722 480,696
Invitation Homes, Inc. 14,723 503,379
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Real estate (continued)  
Residential REITs (continued)  
Mid-America Apartment Communities, Inc. 3,046 $486,294
Sun Communities, Inc. 3,157 392,826
UDR, Inc. 8,298 347,520
Retail REITs – 0.3%  
Brixmor Property Group, Inc. 2,717 67,680
Federal Realty Investment Trust 2,165 203,553
Kimco Realty Corp. 15,387 307,432
NNN REIT, Inc. 4,629 190,298
Realty Income Corp. 16,145 934,150
Regency Centers Corp. 4,549 328,347
Simon Property Group, Inc. 6,125 963,953
Specialized REITs – 1.0%  
American Tower Corp. 5,608 1,264,099
Crown Castle, Inc. 7,798 824,716
CubeSmart 5,408 219,943
Digital Realty Trust, Inc. 6,511 1,045,276
Equinix, Inc. 1,236 1,063,887
Extra Space Storage, Inc. 4,961 726,886
Gaming and Leisure Properties, Inc. 6,433 307,883
Iron Mountain, Inc. 7,660 686,872
Lamar Advertising Company, Class A 2,222 252,886
Public Storage 2,063 619,787
SBA Communications Corp. 2,652 645,497
VICI Properties, Inc. 24,543 785,867
Weyerhaeuser Company 25,630 664,073
Utilities – 4.3% 38,089,513
Electric utilities – 2.5%  
Alliant Energy Corp. 9,994 610,034
American Electric Power Company, Inc. 15,678 1,698,555
Constellation Energy Corp. 6,271 1,401,192
Duke Energy Corp. 16,255 1,983,435
Edison International 18,009 963,662
Entergy Corp. 23,126 1,923,389
Evergy, Inc. 11,482 793,406
Eversource Energy 14,531 864,304
Exelon Corp. 43,251 2,028,472
FirstEnergy Corp. 22,130 948,934
NextEra Energy, Inc. 19,559 1,308,106
NRG Energy, Inc. 6,516 714,023
OGE Energy Corp. 2,914 132,237
PG&E Corp. 77,636 1,282,547
Pinnacle West Capital Corp. 6,122 582,692
PPL Corp. 35,905 1,310,533
The Southern Company 20,026 1,840,189
Xcel Energy, Inc. 22,284 1,575,479
Gas utilities – 0.1%  
Atmos Energy Corp. 5,046 810,539
27 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Utilities (continued)  
Independent power and renewable electricity producers –
0.3% 		 
The AES Corp. 31,137 $311,370
Vistra Corp. 14,771 1,914,765
Multi-utilities – 1.3%  
Ameren Corp. 11,797 1,170,734
CenterPoint Energy, Inc. 28,699 1,112,947
CMS Energy Corp. 11,694 861,263
Consolidated Edison, Inc. 15,756 1,776,489
Dominion Energy, Inc. 19,116 1,039,528
DTE Energy Company 8,699 1,191,763
NiSource, Inc. 20,124 787,050
Public Service Enterprise Group, Inc. 21,335 1,705,307
Sempra 14,335 1,064,660
WEC Energy Group, Inc. 11,255 1,232,648
Water utilities – 0.1%  
American Water Works Company, Inc. 5,724 841,485
Essential Utilities, Inc. 7,483 307,776
SHORT-TERM INVESTMENTS – 0.1%   $846,668
(Cost $846,665)    
Short-term funds – 0.1% 846,668
John Hancock Collateral Trust, 4.2081% (D)(E) 3,624 36,256
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2762% (D) 810,412 810,412
Total investments (Multifactor Large Cap ETF) (Cost $710,778,523) 100.0% $891,355,724
Other assets and liabilities, net 0.0%   194,795
Total net assets 100.0%   $891,550,519
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Non-income producing security.
(B) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(C) All or a portion of this security is on loan as of 4-30-25.
(D) The rate shown is the annualized seven-day yield as of 4-30-25.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
MULTIFACTOR MID CAP ETF
As of 4-30-25
  Shares or
Principal
Amount 		Value
COMMON STOCKS – 99.9%   $3,785,378,359
(Cost $3,289,705,510)    
Communication services – 3.0% 114,613,586
Diversified telecommunication services – 0.2%  
AST SpaceMobile, Inc. (A)(B) 36,706 851,946
Frontier Communications Parent, Inc. (A) 192,542 6,979,648
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Communication services (continued)  
Diversified telecommunication services (continued)  
GCI Liberty, Inc. (A)(C) 32,082 $0
Entertainment – 1.1%  
Live Nation Entertainment, Inc. (A)(B) 42,834 5,673,363
ROBLOX Corp., Class A (A) 82,066 5,502,525
Roku, Inc. (A) 55,351 3,773,831
Take-Two Interactive Software, Inc. (A) 72,066 16,814,439
TKO Group Holdings, Inc. 22,615 3,684,210
Warner Brothers Discovery, Inc. (A) 678,246 5,880,393
Warner Music Group Corp., Class A 44,696 1,360,993
Interactive media and services – 0.3%  
Match Group, Inc. 109,484 3,247,295
Pinterest, Inc., Class A (A) 165,954 4,201,955
Reddit, Inc., Class A (A) 12,042 1,403,736
Snap, Inc., Class A (A) 202,473 1,611,685
Media – 1.4%  
EchoStar Corp., Class A (A) 64,250 1,444,340
Fox Corp., Class A 141,353 7,037,966
Fox Corp., Class B 87,234 4,033,700
Liberty Broadband Corp., Series A (A) 8,478 754,966
Liberty Broadband Corp., Series C (A) 72,927 6,591,872
News Corp., Class A 229,323 6,219,240
News Corp., Class B (B) 90,731 2,850,768
Omnicom Group, Inc. 105,640 8,045,542
Paramount Global, Class A 2,157 48,878
Paramount Global, Class B 256,606 3,012,554
Sirius XM Holdings, Inc. 19,959 427,522
The Interpublic Group of Companies, Inc. 312,191 7,842,238
The New York Times Company, Class A 102,151 5,317,981
Consumer discretionary – 10.9% 414,650,569
Automobile components – 0.6%  
Aptiv PLC (A) 105,742 6,033,639
Autoliv, Inc. 67,935 6,333,580
BorgWarner, Inc. 186,419 5,290,571
Gentex Corp. 171,241 3,729,629
Mobileye Global, Inc., Class A (A) 30,935 451,032
Automobiles – 0.1%  
Lucid Group, Inc. (A)(B) 398,430 1,000,059
Rivian Automotive, Inc., Class A (A)(B) 279,259 3,814,678
Broadline retail – 0.5%  
Dillard’s, Inc., Class A (B) 2,598 900,623
eBay, Inc. 210,114 14,321,370
Etsy, Inc. (A) 44,596 1,939,034
Ollie’s Bargain Outlet Holdings, Inc. (A) 17,991 1,909,025
Distributors – 0.5%  
Genuine Parts Company 64,973 7,637,576
LKQ Corp. 173,693 6,636,810
Pool Corp. 19,360 5,675,190
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 28
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Diversified consumer services – 0.8%  
ADT, Inc. 412,167 $3,305,579
Bright Horizons Family Solutions, Inc. (A) 30,499 3,825,185
Duolingo, Inc. (A) 11,871 4,623,517
H&R Block, Inc. 77,981 4,707,713
Service Corp. International 145,703 11,641,670
Stride, Inc. (A) 14,947 2,126,211
Hotels, restaurants and leisure – 2.4%  
Aramark 188,957 6,316,833
Brinker International, Inc. (A) 14,362 1,928,817
Caesars Entertainment, Inc. (A) 80,109 2,167,750
Carnival Corp. (A) 301,470 5,528,960
Cava Group, Inc. (A) 24,286 2,244,755
Choice Hotels International, Inc. 17,431 2,198,223
Churchill Downs, Inc. 41,108 3,716,574
Darden Restaurants, Inc. 56,912 11,418,824
Domino’s Pizza, Inc. 13,300 6,521,921
DraftKings, Inc., Class A (A) 96,575 3,214,982
Dutch Bros, Inc., Class A (A) 24,485 1,462,734
Expedia Group, Inc. 46,914 7,362,214
Hyatt Hotels Corp., Class A 20,770 2,340,364
Life Time Group Holdings, Inc. (A) 30,584 937,705
Light & Wonder, Inc. (A) 56,192 4,797,673
Norwegian Cruise Line Holdings, Ltd. (A) 297,649 4,771,313
Planet Fitness, Inc., Class A (A) 38,177 3,611,162
Texas Roadhouse, Inc. 37,987 6,304,323
Vail Resorts, Inc. 25,519 3,552,245
Wingstop, Inc. 10,122 2,671,095
Wyndham Hotels & Resorts, Inc. 59,760 5,097,528
Wynn Resorts, Ltd. 43,521 3,495,172
Household durables – 1.9%  
Garmin, Ltd. 59,360 11,092,603
Mohawk Industries, Inc. (A) 34,131 3,629,832
NVR, Inc. (A) 1,664 11,857,248
PulteGroup, Inc. 131,615 13,501,067
SharkNinja, Inc. (A) 30,529 2,457,585
Somnigroup International, Inc. (B) 105,501 6,441,891
Taylor Morrison Home Corp. (A) 65,467 3,754,532
Toll Brothers, Inc. 85,815 8,656,159
TopBuild Corp. (A) 22,752 6,729,132
Whirlpool Corp. (B) 42,788 3,263,869
Leisure products – 0.3%  
Hasbro, Inc. 97,265 6,020,704
Mattel, Inc. (A) 240,480 3,821,227
Specialty retail – 2.9%  
AutoNation, Inc. (A) 39,739 6,920,547
Bath & Body Works, Inc. 102,001 3,112,051
Best Buy Company, Inc. 116,318 7,757,247
Burlington Stores, Inc. (A) 33,069 7,441,848
CarMax, Inc. (A) 92,631 5,990,447
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Specialty retail (continued)  
Carvana Company (A) 29,351 $7,171,917
Chewy, Inc., Class A (A) 40,636 1,523,850
Dick’s Sporting Goods, Inc. 36,365 6,827,165
Floor & Decor Holdings, Inc., Class A (A) 61,857 4,419,064
GameStop Corp., Class A (A) 172,390 4,802,785
Group 1 Automotive, Inc. 5,132 2,071,429
Lithia Motors, Inc. 21,497 6,293,462
Murphy USA, Inc. 11,231 5,599,440
Penske Automotive Group, Inc. 17,291 2,691,690
RH (A) 3,927 722,686
The Gap, Inc. 177,113 3,878,775
Tractor Supply Company 264,682 13,398,203
Ulta Beauty, Inc. (A) 23,322 9,227,116
Williams-Sonoma, Inc. 71,925 11,110,255
Textiles, apparel and luxury goods – 0.9%  
Amer Sports, Inc. (A) 20,432 495,476
Birkenstock Holding PLC (A) 17,856 918,334
Crocs, Inc. (A) 42,455 4,093,511
Deckers Outdoor Corp. (A) 74,067 8,208,846
Levi Strauss & Company, Class A 59,156 947,088
Ralph Lauren Corp. 21,944 4,936,303
Skechers USA, Inc., Class A (A) 92,490 4,441,370
Tapestry, Inc. 129,440 9,144,936
VF Corp. (B) 144,362 1,715,021
Consumer staples – 4.7% 177,752,399
Beverages – 0.4%  
Brown-Forman Corp., Class A 8,413 291,174
Brown-Forman Corp., Class B 51,182 1,783,181
Celsius Holdings, Inc. (A) 39,900 1,394,904
Coca-Cola Consolidated, Inc. 3,035 4,114,883
Molson Coors Beverage Company, Class B 111,426 6,410,338
Primo Brands Corp. 41,735 1,363,482
Consumer staples distribution and retail – 2.0%  
Albertsons Companies, Inc., Class A 245,888 5,404,618
BJ’s Wholesale Club Holdings, Inc. (A) 90,492 10,638,240
Casey’s General Stores, Inc. 19,667 9,097,758
Dollar Tree, Inc. (A) 102,097 8,348,472
Maplebear, Inc. (A) 62,937 2,510,557
Performance Food Group Company (A) 104,573 8,434,858
Sprouts Farmers Market, Inc. (A) 52,452 8,969,292
The Kroger Company 188,004 13,575,769
U.S. Foods Holding Corp. (A) 148,821 9,771,587
Food products – 1.8%  
Archer-Daniels-Midland Company 94,934 4,533,099
Bunge Global SA 92,519 7,283,096
Conagra Brands, Inc. 217,428 5,372,646
Darling Ingredients, Inc. (A) 116,548 3,751,680
Hormel Foods Corp. 99,870 2,986,113
29 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer staples (continued)  
Food products (continued)  
Ingredion, Inc. 53,053 $7,046,499
Lamb Weston Holdings, Inc. 74,819 3,951,191
McCormick & Company, Inc. 81,381 6,238,667
Pilgrim’s Pride Corp. 33,416 1,823,845
Post Holdings, Inc. (A) 44,967 5,088,915
The Campbell’s Company 133,456 4,865,806
The J.M. Smucker Company 59,663 6,937,017
Tyson Foods, Inc., Class A 106,448 6,518,876
Household products – 0.4%  
Church & Dwight Company, Inc. 85,856 8,528,935
The Clorox Company 45,428 6,464,404
Personal care products – 0.1%  
BellRing Brands, Inc. (A) 55,127 4,252,497
Energy – 4.0% 150,028,097
Energy equipment and services – 0.7%  
Baker Hughes Company 290,325 10,277,505
ChampionX Corp. 79,949 1,929,169
Halliburton Company 259,281 5,138,949
NOV, Inc. 203,769 2,365,758
TechnipFMC PLC 191,799 5,402,978
Oil, gas and consumable fuels – 3.3%  
Antero Midstream Corp. 141,015 2,333,798
Antero Resources Corp. (A) 161,977 5,641,659
APA Corp. 162,816 2,530,161
Cheniere Energy, Inc. 70,806 16,363,975
Chord Energy Corp. 26,645 2,404,178
Coterra Energy, Inc. 342,551 8,413,053
Diamondback Energy, Inc. 78,647 10,382,190
DT Midstream, Inc. 43,509 4,229,075
EQT Corp. 188,413 9,315,139
Expand Energy Corp. 90,980 9,452,822
HF Sinclair Corp. 99,992 3,006,759
Kinetik Holdings, Inc. 14,089 582,439
Matador Resources Company 72,106 2,851,071
Ovintiv, Inc. 227,919 7,653,520
Permian Resources Corp. 435,103 5,134,215
Range Resources Corp. 150,444 5,104,565
Targa Resources Corp. 95,040 16,242,336
Texas Pacific Land Corp. 10,298 13,272,783
Financials – 16.4% 623,440,319
Banks – 3.9%  
BOK Financial Corp. 16,758 1,561,343
Cadence Bank 59,559 1,742,696
Citizens Financial Group, Inc. 210,508 7,765,640
Comerica, Inc. 104,639 5,624,346
Commerce Bancshares, Inc. 84,956 5,160,227
Cullen/Frost Bankers, Inc. 36,720 4,276,778
East West Bancorp, Inc. 108,430 9,276,187
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Banks (continued)  
Fifth Third Bancorp 321,686 $11,561,395
First Citizens BancShares, Inc., Class A 6,340 11,279,748
First Horizon Corp. 302,864 5,475,781
Huntington Bancshares, Inc. 626,613 9,104,687
KeyCorp 432,011 6,411,043
M&T Bank Corp. 72,512 12,309,637
Old National Bancorp 171,707 3,535,447
Pinnacle Financial Partners, Inc. 43,819 4,392,417
Popular, Inc. 47,976 4,577,870
Prosperity Bancshares, Inc. 54,050 3,669,995
Regions Financial Corp. 474,692 9,688,464
SouthState Corp. 48,047 4,169,519
Synovus Financial Corp. 52,066 2,255,499
UMB Financial Corp. 18,822 1,779,997
Webster Financial Corp. 116,157 5,494,226
Western Alliance Bancorp 81,567 5,686,036
Wintrust Financial Corp. 42,273 4,699,489
Zions Bancorp NA 122,664 5,516,200
Capital markets – 4.1%  
Cboe Global Markets, Inc. 35,862 7,954,192
Evercore, Inc., Class A 19,902 4,085,682
FactSet Research Systems, Inc. 18,626 8,050,530
Franklin Resources, Inc. 167,963 3,150,986
Hamilton Lane, Inc., Class A 19,657 3,036,810
Houlihan Lokey, Inc. 31,251 5,065,162
Interactive Brokers Group, Inc., Class A 47,500 8,162,875
Invesco, Ltd. 292,467 4,074,065
Janus Henderson Group PLC 36,776 1,221,331
Jefferies Financial Group, Inc. 114,478 5,349,557
LPL Financial Holdings, Inc. 36,705 11,737,892
MarketAxess Holdings, Inc. 21,469 4,757,316
Morningstar, Inc. 15,375 4,377,570
Nasdaq, Inc. 157,810 12,026,700
Northern Trust Corp. 81,601 7,668,862
PJT Partners, Inc., Class A 6,380 904,110
Raymond James Financial, Inc. 85,661 11,738,983
Robinhood Markets, Inc., Class A (A) 232,462 11,416,209
SEI Investments Company 82,368 6,448,591
State Street Corp. 127,831 11,261,911
StepStone Group, Inc., Class A 15,279 764,103
Stifel Financial Corp. 75,420 6,462,740
T. Rowe Price Group, Inc. 84,105 7,447,498
The Carlyle Group, Inc. 90,649 3,502,677
Tradeweb Markets, Inc., Class A 30,881 4,270,842
Consumer finance – 1.3%  
Ally Financial, Inc. 285,222 9,315,351
Credit Acceptance Corp. (A)(B) 3,961 1,930,671
Discover Financial Services 76,835 14,035,449
OneMain Holdings, Inc. 67,056 3,156,326
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 30
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Consumer finance (continued)  
SLM Corp. 82,375 $2,381,461
SoFi Technologies, Inc. (A) 344,104 4,304,741
Synchrony Financial 256,175 13,308,291
Upstart Holdings, Inc. (A) 14,717 703,473
Financial services – 1.7%  
Affirm Holdings, Inc. (A) 70,394 3,502,805
Corebridge Financial, Inc. 119,219 3,532,459
Corpay, Inc. (A) 29,975 9,752,966
Equitable Holdings, Inc. 160,369 7,930,247
Essent Group, Ltd. 65,476 3,727,549
Global Payments, Inc. 86,698 6,615,924
Jack Henry & Associates, Inc. 42,007 7,285,274
Jackson Financial, Inc., Class A 58,503 4,557,969
MGIC Investment Corp. 150,333 3,744,795
Rocket Companies, Inc., Class A (B) 24,670 318,490
Shift4 Payments, Inc., Class A (A)(B) 33,355 2,728,439
Toast, Inc., Class A (A) 126,183 4,489,591
UWM Holdings Corp. (B) 29,810 140,107
Voya Financial, Inc. 66,929 3,962,197
WEX, Inc. (A) 27,237 3,550,888
Insurance – 5.4%  
American Financial Group, Inc. 54,789 6,939,575
Arch Capital Group, Ltd. 140,571 12,746,978
Assurant, Inc. 36,805 7,093,796
Axis Capital Holdings, Ltd. 29,543 2,845,582
Brown & Brown, Inc. 90,833 10,046,130
Cincinnati Financial Corp. 59,690 8,309,445
CNA Financial Corp. 15,530 747,925
Erie Indemnity Company, Class A 11,874 4,258,254
Everest Group, Ltd. 25,043 8,986,180
Fidelity National Financial, Inc. 128,473 8,228,696
First American Financial Corp. 77,652 4,722,018
Globe Life, Inc. 68,002 8,387,367
Kinsale Capital Group, Inc. 12,568 5,470,348
Lincoln National Corp. 55,966 1,783,636
Loews Corp. 98,501 8,552,842
Markel Group, Inc. (A) 5,797 10,542,424
Old Republic International Corp. 195,618 7,355,237
Primerica, Inc. 22,857 5,990,134
Principal Financial Group, Inc. 91,075 6,753,211
Reinsurance Group of America, Inc. 44,225 8,283,785
RenaissanceRe Holdings, Ltd. 44,293 10,715,805
RLI Corp. 51,410 3,804,854
The Hanover Insurance Group, Inc. 11,632 1,932,075
The Hartford Financial Services Group, Inc. 157,298 19,295,746
Unum Group 122,640 9,524,222
W.R. Berkley Corp. 138,920 9,959,175
Willis Towers Watson PLC 43,007 13,237,555
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care – 10.5% $397,642,784
Biotechnology – 2.0%  
Alnylam Pharmaceuticals, Inc. (A) 32,773 8,627,165
BioMarin Pharmaceutical, Inc. (A) 75,043 4,779,489
Blueprint Medicines Corp. (A) 17,864 1,598,828
BridgeBio Pharma, Inc. (A) 28,715 1,101,507
Cytokinetics, Inc. (A) 29,463 1,262,195
Exact Sciences Corp. (A) 77,667 3,544,722
Exelixis, Inc. (A) 231,054 9,045,764
Halozyme Therapeutics, Inc. (A) 71,863 4,413,825
Incyte Corp. (A) 71,871 4,503,437
Insmed, Inc. (A) 44,363 3,194,136
Madrigal Pharmaceuticals, Inc. (A) 3,719 1,241,811
Natera, Inc. (A) 36,151 5,456,270
Neurocrine Biosciences, Inc. (A) 58,597 6,310,311
REVOLUTION Medicines, Inc. (A) 52,334 2,113,247
Roivant Sciences, Ltd. (A)(B) 200,323 2,327,753
Sarepta Therapeutics, Inc. (A) 38,222 2,385,053
Summit Therapeutics, Inc. (A)(B) 18,985 457,918
United Therapeutics Corp. (A) 34,866 10,567,536
Vaxcyte, Inc. (A) 49,740 1,782,682
Health care equipment and supplies – 2.6%  
ABIOMED, Inc. (A)(C) 18,321 284,342
Align Technology, Inc. (A) 20,091 3,481,770
Baxter International, Inc. 188,235 5,867,285
Glaukos Corp. (A) 15,358 1,447,492
Globus Medical, Inc., Class A (A) 77,963 5,595,405
Hologic, Inc. (A) 149,997 8,729,825
Insulet Corp. (A) 30,368 7,661,543
Lantheus Holdings, Inc. (A) 36,640 3,823,018
Masimo Corp. (A) 29,608 4,765,704
Merit Medical Systems, Inc. (A) 17,721 1,673,748
Penumbra, Inc. (A) 14,651 4,290,399
ResMed, Inc. 58,927 13,941,539
Solventum Corp. (A) 73,899 4,886,202
STERIS PLC 44,440 9,987,446
Teleflex, Inc. 29,211 4,003,368
The Cooper Companies, Inc. (A) 91,718 7,490,609
Zimmer Biomet Holdings, Inc. 97,467 10,043,974
Health care providers and services – 3.4%  
Cardinal Health, Inc. 96,605 13,649,320
Cencora, Inc. 57,114 16,715,554
Centene Corp. (A) 117,771 7,048,594
Chemed Corp. 10,202 5,932,565
DaVita, Inc. (A) 35,787 5,065,650
Encompass Health Corp. 85,205 9,968,133
HealthEquity, Inc. (A) 45,968 3,940,377
Henry Schein, Inc. (A) 108,317 7,037,355
Hims & Hers Health, Inc. (A)(B) 38,801 1,284,313
Labcorp Holdings, Inc. 52,493 12,651,338
Molina Healthcare, Inc. (A) 30,800 10,071,908
31 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care (continued)  
Health care providers and services (continued)  
Quest Diagnostics, Inc. 71,585 $12,757,879
Tenet Healthcare Corp. (A) 69,042 9,869,554
The Ensign Group, Inc. 37,796 4,875,306
Universal Health Services, Inc., Class B 53,112 9,404,542
Health care technology – 0.2%  
Doximity, Inc., Class A (A) 48,278 2,746,053
Veeva Systems, Inc., Class A (A) 17,132 4,003,577
Waystar Holding Corp. (A) 24,871 924,455
Life sciences tools and services – 1.7%  
Avantor, Inc. (A) 310,961 4,039,383
Bio-Rad Laboratories, Inc., Class A (A) 13,250 3,234,060
Bio-Techne Corp. 87,653 4,413,329
Bruker Corp. 75,595 3,028,336
Charles River Laboratories International, Inc. (A) 39,686 4,707,553
ICON PLC (A) 16,690 2,527,534
Illumina, Inc. (A) 21,134 1,639,998
Medpace Holdings, Inc. (A) 14,157 4,365,877
Mettler-Toledo International, Inc. (A) 8,393 8,985,294
Repligen Corp. (A) 28,305 3,905,807
Revvity, Inc. 75,504 7,054,339
Tempus AI, Inc. (A)(B) 19,117 987,775
Waters Corp. (A) 23,809 8,279,104
West Pharmaceutical Services, Inc. 30,636 6,473,080
Pharmaceuticals – 0.6%  
Axsome Therapeutics, Inc. (A) 7,296 819,268
Corcept Therapeutics, Inc. (A) 26,483 1,903,598
Elanco Animal Health, Inc. (A) 319,278 3,026,755
Jazz Pharmaceuticals PLC (A) 51,009 5,966,013
Royalty Pharma PLC, Class A 126,997 4,168,042
Viatris, Inc. 888,818 7,483,848
Industrials – 19.8% 749,038,942
Aerospace and defense – 1.5%  
Axon Enterprise, Inc. (A) 19,088 11,706,670
BWX Technologies, Inc. 46,660 5,091,539
Curtiss-Wright Corp. 20,487 7,065,761
HEICO Corp. 13,371 3,352,912
HEICO Corp., Class A 21,314 4,282,622
Huntington Ingalls Industries, Inc. 26,728 6,156,528
Leonardo DRS, Inc. 29,838 1,102,812
Loar Holdings, Inc. (A) 9,455 894,254
Moog, Inc., Class A 8,491 1,420,120
Rocket Lab USA, Inc. (A)(B) 73,951 1,611,392
Standardaero, Inc. (A) 13,359 360,960
Textron, Inc. 109,647 7,715,859
Woodward, Inc. 36,310 6,810,667
Air freight and logistics – 0.4%  
C.H. Robinson Worldwide, Inc. 68,769 6,135,570
Expeditors International of Washington, Inc. 76,453 8,402,949
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Building products – 2.4%  
A.O. Smith Corp. 80,868 $5,487,702
AAON, Inc. 32,699 2,984,438
Advanced Drainage Systems, Inc. 43,861 4,977,785
Allegion PLC 59,287 8,252,750
Armstrong World Industries, Inc. 14,247 2,066,100
Builders FirstSource, Inc. (A) 78,982 9,448,617
Carlisle Companies, Inc. 28,603 10,854,266
Fortune Brands Innovations, Inc. 103,587 5,575,052
Lennox International, Inc. 16,734 9,149,315
Masco Corp. 85,884 5,205,429
Owens Corning 84,871 12,341,092
Simpson Manufacturing Company, Inc. 25,374 3,899,730
The AZEK Company, Inc. (A) 50,592 2,507,340
Trex Company, Inc. (A) 64,372 3,721,989
UFP Industries, Inc. 40,969 4,049,786
Zurn Elkay Water Solutions Corp. 52,981 1,799,235
Commercial services and supplies – 0.8%  
Casella Waste Systems, Inc., Class A (A) 21,483 2,523,178
Clean Harbors, Inc. (A) 35,167 7,523,628
MSA Safety, Inc. 20,872 3,285,670
Rollins, Inc. 94,809 5,416,438
Tetra Tech, Inc. 137,968 4,303,222
Veralto Corp. 71,298 6,837,478
Construction and engineering – 1.6%  
AECOM 86,047 8,488,537
API Group Corp. (A) 142,571 5,393,461
Comfort Systems USA, Inc. 17,534 6,970,642
EMCOR Group, Inc. 25,609 10,261,526
Fluor Corp. (A) 83,757 2,922,282
MasTec, Inc. (A) 37,697 4,799,582
Quanta Services, Inc. 55,392 16,212,684
Valmont Industries, Inc. 5,797 1,699,796
WillScot Holdings Corp. 131,019 3,291,197
Electrical equipment – 1.9%  
Acuity, Inc. 21,587 5,258,809
AMETEK, Inc. 96,345 16,338,185
Generac Holdings, Inc. (A) 35,205 4,026,748
Hubbell, Inc. 29,146 10,585,244
NEXTracker, Inc., Class A (A) 110,955 4,505,883
nVent Electric PLC 100,619 5,524,989
Regal Rexnord Corp. 38,286 4,052,190
Rockwell Automation, Inc. 47,108 11,667,709
Vertiv Holdings Company, Class A 111,146 9,489,645
Ground transportation – 0.9%  
J.B. Hunt Transport Services, Inc. 41,423 5,409,015
Knight-Swift Transportation Holdings, Inc. 116,892 4,578,660
Landstar System, Inc. 24,292 3,258,772
Ryder System, Inc. 32,086 4,417,280
Saia, Inc. (A) 14,271 3,482,124
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 32
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Ground transportation (continued)  
U-Haul Holding Company (A)(B) 8,127 $498,917
U-Haul Holding Company, Series N 72,270 3,960,396
XPO, Inc. (A) 62,547 6,637,488
Machinery – 4.8%  
AGCO Corp. 58,529 4,965,015
Allison Transmission Holdings, Inc. 61,730 5,693,975
Chart Industries, Inc. (A) 18,737 2,529,120
CNH Industrial NV 412,593 4,773,701
Crane Company 26,210 4,219,286
Cummins, Inc. 21,249 6,243,806
Donaldson Company, Inc. 89,712 5,896,770
Dover Corp. 65,027 11,096,858
Esab Corp. 33,467 4,020,056
Flowserve Corp. 72,011 3,257,058
Fortive Corp. 110,288 7,685,971
Graco, Inc. 94,479 7,710,431
IDEX Corp. 36,862 6,412,882
Ingersoll Rand, Inc. 128,959 9,727,377
ITT, Inc. 56,883 7,794,109
JBT Marel Corp. 15,900 1,673,634
Lincoln Electric Holdings, Inc. 33,516 5,905,519
Mueller Industries, Inc. 54,268 3,991,954
Nordson Corp. 28,676 5,436,109
Oshkosh Corp. 52,320 4,382,323
Pentair PLC 93,376 8,472,004
RBC Bearings, Inc. (A) 12,753 4,190,253
Snap-on, Inc. 31,718 9,953,426
SPX Technologies, Inc. (A) 16,343 2,192,413
Stanley Black & Decker, Inc. 84,235 5,055,785
Symbotic, Inc. (A)(B) 3,690 79,630
The Middleby Corp. (A) 38,606 5,148,110
The Timken Company 45,160 2,901,530
The Toro Company 65,835 4,495,214
Wabtec Corp. 77,693 14,353,005
Watts Water Technologies, Inc., Class A 14,967 3,109,394
Xylem, Inc. 78,052 9,410,730
Marine transportation – 0.0%  
Kirby Corp. (A) 6,521 628,429
Passenger airlines – 0.3%  
Alaska Air Group, Inc. (A) 12,290 544,078
American Airlines Group, Inc. (A)(B) 74,402 740,300
Delta Air Lines, Inc. 89,459 3,724,178
Southwest Airlines Company 52,503 1,467,984
United Airlines Holdings, Inc. (A) 67,624 4,653,884
Professional services – 3.3%  
Booz Allen Hamilton Holding Corp. 66,744 8,010,615
Broadridge Financial Solutions, Inc. 54,935 13,316,244
CACI International, Inc., Class A (A) 15,375 7,039,751
Dayforce, Inc. (A) 91,736 5,308,762
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Professional services (continued)  
Equifax, Inc. 41,917 $10,903,869
ExlService Holdings, Inc. (A) 65,163 3,159,102
FTI Consulting, Inc. (A) 21,343 3,548,914
Genpact, Ltd. 126,372 6,351,457
Jacobs Solutions, Inc. 38,364 4,749,463
KBR, Inc. 77,542 4,094,993
Leidos Holdings, Inc. 56,114 8,258,859
Parsons Corp. (A) 19,242 1,286,520
Paycom Software, Inc. 29,482 6,674,430
Paylocity Holding Corp. (A) 27,033 5,193,039
Robert Half, Inc. 84,758 3,754,779
SS&C Technologies Holdings, Inc. 122,515 9,262,134
TransUnion 63,524 5,269,951
UL Solutions, Inc., Class A 25,020 1,430,894
Verisk Analytics, Inc. 52,136 15,454,674
Trading companies and distributors – 1.9%  
Applied Industrial Technologies, Inc. 23,166 5,635,824
Core & Main, Inc., Class A (A) 112,837 5,944,253
Fastenal Company 221,186 17,909,430
FTAI Aviation, Ltd. 44,874 4,806,454
GATX Corp. 16,316 2,381,483
SiteOne Landscape Supply, Inc. (A) 24,290 2,788,735
United Rentals, Inc. 33,102 20,902,258
Watsco, Inc. (B) 12,947 5,953,548
WESCO International, Inc. 43,321 7,059,590
Information technology – 13.1% 495,082,854
Communications equipment – 0.8%  
Ciena Corp. (A) 128,150 8,606,554
F5, Inc. (A) 37,258 9,863,683
Juniper Networks, Inc. 253,313 9,200,328
Ubiquiti, Inc. 2,037 664,979
Electronic equipment, instruments and components – 3.0%  
Arrow Electronics, Inc. (A) 45,044 5,016,100
Badger Meter, Inc. 15,981 3,528,924
CDW Corp. 63,179 10,144,020
Cognex Corp. 105,491 2,879,904
Coherent Corp. (A) 105,237 6,768,844
Corning, Inc. 282,578 12,540,812
Fabrinet (A) 16,031 3,287,317
Flex, Ltd. (A) 460,696 15,820,301
Jabil, Inc. 65,418 9,587,662
Keysight Technologies, Inc. (A) 86,262 12,542,495
Littelfuse, Inc. 21,075 3,842,183
TD SYNNEX Corp. 35,604 3,944,923
Teledyne Technologies, Inc. (A) 20,381 9,498,157
Trimble, Inc. (A) 136,508 8,482,607
Zebra Technologies Corp., Class A (A) 29,304 7,335,377
33 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
IT services – 2.2%  
Akamai Technologies, Inc. (A) 94,680 $7,629,314
Amdocs, Ltd. 106,507 9,434,390
Cloudflare, Inc., Class A (A) 52,112 6,294,087
EPAM Systems, Inc. (A) 33,053 5,186,346
Gartner, Inc. (A) 31,340 13,196,647
Globant SA (A)(B) 27,985 3,290,196
GoDaddy, Inc., Class A (A) 58,953 11,102,618
Kyndryl Holdings, Inc. (A) 91,720 2,973,562
MongoDB, Inc. (A) 12,447 2,143,000
Okta, Inc. (A) 51,014 5,721,730
Twilio, Inc., Class A (A) 72,402 7,001,997
VeriSign, Inc. (A) 32,790 9,250,715
Semiconductors and semiconductor equipment – 1.8%  
Astera Labs, Inc. (A) 30,172 1,970,533
Cirrus Logic, Inc. (A) 21,522 2,066,973
Credo Technology Group Holding, Ltd. (A) 26,355 1,134,583
Enphase Energy, Inc. (A) 46,370 2,067,638
Entegris, Inc. 71,556 5,661,511
First Solar, Inc. (A) 56,447 7,102,162
Lattice Semiconductor Corp. (A) 73,135 3,578,496
MACOM Technology Solutions Holdings, Inc. (A) 31,358 3,253,393
MKS Instruments, Inc. 54,230 3,803,692
Monolithic Power Systems, Inc. 18,928 11,226,197
Onto Innovation, Inc. (A) 28,206 3,440,286
Qorvo, Inc. (A) 76,977 5,516,942
Rambus, Inc. (A) 38,075 1,857,679
Skyworks Solutions, Inc. 89,336 5,742,518
Teradyne, Inc. 86,922 6,450,482
Universal Display Corp. 31,964 4,015,637
Software – 4.0%  
ACI Worldwide, Inc. (A) 36,714 1,959,059
ANSYS, Inc. (A) 38,880 12,514,694
Appfolio, Inc., Class A (A) 10,860 2,242,807
Aurora Innovation, Inc. (A)(B) 348,930 2,526,253
Bentley Systems, Inc., Class B 83,775 3,601,487
BILL Holdings, Inc. (A) 45,058 2,053,293
CCC Intelligent Solutions Holdings, Inc. (A) 188,269 1,743,371
Clearwater Analytics Holdings, Inc., Class A (A) 49,273 1,120,468
CommVault Systems, Inc. (A) 17,971 3,003,493
Confluent, Inc., Class A (A) 77,121 1,836,251
DocuSign, Inc. (A) 83,585 6,833,074
Dolby Laboratories, Inc., Class A 48,334 3,711,568
Dropbox, Inc., Class A (A) 145,214 4,145,860
Dynatrace, Inc. (A) 90,525 4,251,959
Elastic NV (A) 29,269 2,522,988
Fair Isaac Corp. (A) 8,605 17,121,196
Gen Digital, Inc. 337,011 8,718,475
Gitlab, Inc., Class A (A)(B) 38,316 1,788,208
Guidewire Software, Inc. (A) 24,077 4,930,247
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Software (continued)  
HubSpot, Inc. (A) 13,503 $8,257,085
Informatica, Inc., Class A (A) 35,415 666,864
Klaviyo, Inc., Class A (A) 25,147 765,475
Manhattan Associates, Inc. (A) 31,797 5,640,470
Nutanix, Inc., Class A (A) 56,972 3,913,976
Pegasystems, Inc. 24,618 2,266,825
Procore Technologies, Inc. (A)(B) 38,001 2,435,484
PTC, Inc. (A) 52,520 8,139,024
Rubrik, Inc., Class A (A) 19,549 1,378,791
Samsara, Inc., Class A (A) 43,380 1,720,451
SentinelOne, Inc., Class A (A) 128,713 2,381,191
Tyler Technologies, Inc. (A) 18,116 9,842,423
UiPath, Inc., Class A (A) 145,465 1,736,852
Unity Software, Inc. (A)(B) 132,057 2,782,441
Zoom Communications, Inc., Class A (A) 93,697 7,265,265
Zscaler, Inc. (A) 18,154 4,105,890
Technology hardware, storage and peripherals – 1.3%  
Hewlett Packard Enterprise Company 638,048 10,349,139
HP, Inc. 197,509 5,050,305
NetApp, Inc. 104,729 9,399,428
Pure Storage, Inc., Class A (A) 135,717 6,156,123
Seagate Technology Holdings PLC 78,179 7,116,634
Super Micro Computer, Inc. (A)(B) 106,211 3,383,882
Western Digital Corp. (A) 183,210 8,035,591
Materials – 5.6% 213,623,662
Chemicals – 1.7%  
Albemarle Corp. (B) 34,103 1,996,731
Axalta Coating Systems, Ltd. (A) 148,523 4,826,998
Celanese Corp. 56,688 2,523,183
CF Industries Holdings, Inc. 105,613 8,276,891
DuPont de Nemours, Inc. 62,310 4,111,837
Eastman Chemical Company 81,148 6,248,396
Element Solutions, Inc. 90,744 1,852,085
International Flavors & Fragrances, Inc. 82,426 6,467,144
LyondellBasell Industries NV, Class A 111,569 6,494,431
NewMarket Corp. 1,972 1,213,372
PPG Industries, Inc. 68,586 7,466,272
RPM International, Inc. 60,678 6,477,377
The Mosaic Company 187,277 5,693,221
Westlake Corp. 18,804 1,738,054
Construction materials – 0.7%  
Eagle Materials, Inc. 18,448 4,176,443
Martin Marietta Materials, Inc. 21,154 11,084,273
Vulcan Materials Company 38,359 10,062,716
Containers and packaging – 1.9%  
Amcor PLC 1,662,244 15,292,642
AptarGroup, Inc. 43,250 6,485,338
Avery Dennison Corp. 43,404 7,426,858
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 34
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Materials (continued)  
Containers and packaging (continued)  
Ball Corp. 153,440 $7,969,674
Crown Holdings, Inc. 79,339 7,642,726
Graphic Packaging Holding Company 230,963 5,845,674
International Paper Company 180,660 8,252,549
Packaging Corp. of America 41,269 7,659,939
Smurfit WestRock PLC 155,736 6,544,027
Metals and mining – 1.2%  
Alcoa Corp. 99,826 2,448,732
ATI, Inc. (A) 64,652 3,515,776
Carpenter Technology Corp. 18,996 3,715,808
Commercial Metals Company 84,799 3,776,947
Reliance, Inc. 29,365 8,463,874
Royal Gold, Inc. 35,116 6,416,044
Steel Dynamics, Inc. 83,130 10,782,792
U.S. Steel Corp. 171,641 7,502,428
Paper and forest products – 0.1%  
Louisiana-Pacific Corp. 36,756 3,172,410
Real estate – 5.9% 223,185,221
Diversified REITs – 0.2%  
Essential Properties Realty Trust, Inc. 45,382 1,459,939
WP Carey, Inc. 84,770 5,293,039
Health care REITs – 0.6%  
Alexandria Real Estate Equities, Inc. 43,446 3,156,786
Healthcare Realty Trust, Inc. 156,406 2,428,985
Healthpeak Properties, Inc. 252,516 4,504,885
Omega Healthcare Investors, Inc. 114,881 4,486,103
Ventas, Inc. 108,516 7,604,801
Hotel and resort REITs – 0.1%  
Host Hotels & Resorts, Inc. 290,729 4,105,093
Ryman Hospitality Properties, Inc. 18,548 1,631,297
Industrial REITs – 0.5%  
Americold Realty Trust, Inc. 120,951 2,339,192
EastGroup Properties, Inc. 21,264 3,474,963
First Industrial Realty Trust, Inc. 57,025 2,713,250
Lineage, Inc. 14,541 701,312
Rexford Industrial Realty, Inc. 94,461 3,126,659
STAG Industrial, Inc. 78,805 2,602,929
Terreno Realty Corp. 38,452 2,166,001
Office REITs – 0.2%  
BXP, Inc. 61,219 3,901,487
Vornado Realty Trust 58,637 2,068,713
Real estate management and development – 0.9%  
CBRE Group, Inc., Class A (A) 120,762 14,754,701
CoStar Group, Inc. (A) 70,431 5,223,867
Jones Lang LaSalle, Inc. (A) 42,688 9,707,678
Zillow Group, Inc., Class A (A) 15,797 1,042,286
Zillow Group, Inc., Class C (A) 75,921 5,111,761
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Real estate (continued)  
Residential REITs – 1.4%  
American Homes 4 Rent, Class A 134,963 $5,046,267
AvalonBay Communities, Inc. 28,900 6,068,422
Camden Property Trust 44,829 5,101,540
Equity LifeStyle Properties, Inc. 72,979 4,727,580
Equity Residential 90,544 6,361,621
Essex Property Trust, Inc. 16,587 4,630,261
Invitation Homes, Inc. 156,389 5,346,940
Mid-America Apartment Communities, Inc. 30,284 4,834,841
Sun Communities, Inc. 31,966 3,977,529
UDR, Inc. 138,734 5,810,180
Retail REITs – 0.6%  
Agree Realty Corp. 42,303 3,283,136
Brixmor Property Group, Inc. 129,306 3,221,012
Federal Realty Investment Trust 35,929 3,378,045
Kimco Realty Corp. 270,144 5,397,477
NNN REIT, Inc. 78,931 3,244,853
Regency Centers Corp. 76,810 5,544,146
Specialized REITs – 1.4%  
CubeSmart 96,475 3,923,638
Extra Space Storage, Inc. 72,792 10,665,484
Gaming and Leisure Properties, Inc. 111,498 5,336,294
Iron Mountain, Inc. 110,371 9,896,968
Lamar Advertising Company, Class A 41,922 4,771,143
SBA Communications Corp. 24,755 6,025,367
VICI Properties, Inc. 231,631 7,416,825
Weyerhaeuser Company 214,972 5,569,925
Utilities – 6.0% 226,319,926
Electric utilities – 2.9%  
Alliant Energy Corp. 89,247 5,447,637
Edison International 215,489 11,530,816
Entergy Corp. 196,504 16,343,238
Evergy, Inc. 164,131 11,341,452
Eversource Energy 144,282 8,581,893
FirstEnergy Corp. 235,136 10,082,632
IDACORP, Inc. 13,854 1,636,019
NRG Energy, Inc. 101,871 11,163,024
OGE Energy Corp. 152,574 6,923,808
PG&E Corp. 504,416 8,332,952
Pinnacle West Capital Corp. 101,090 9,621,746
PPL Corp. 261,700 9,552,050
Gas utilities – 0.4%  
Atmos Energy Corp. 55,371 8,894,244
National Fuel Gas Company 19,727 1,514,639
UGI Corp. 127,863 4,192,628
Independent power and renewable electricity producers –
0.6% 		 
The AES Corp. 374,622 3,746,220
Vistra Corp. 147,836 19,163,981
35 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Utilities (continued)  
Multi-utilities – 1.7%  
Ameren Corp. 109,944 $10,910,843
CenterPoint Energy, Inc. 353,745 13,718,231
CMS Energy Corp. 121,920 8,979,408
DTE Energy Company 76,167 10,434,879
NiSource, Inc. 228,892 8,951,966
WEC Energy Group, Inc. 100,702 11,028,883
Water utilities – 0.4%  
American Water Works Company, Inc. 59,438 8,737,980
Essential Utilities, Inc. 133,449 5,488,757
SHORT-TERM INVESTMENTS – 0.2%   $8,287,838
(Cost $8,287,606)    
Short-term funds – 0.2% 8,287,838
John Hancock Collateral Trust, 4.2081% (D)(E) 381,268 3,813,897
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2762% (D) 4,473,941 4,473,941
Total investments (Multifactor Mid Cap ETF) (Cost $3,297,993,116) 100.1% $3,793,666,197
Other assets and liabilities, net (0.1%)   (3,426,228)
Total net assets 100.0%   $3,790,239,969
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Non-income producing security.
(B) All or a portion of this security is on loan as of 4-30-25.
(C) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(D) The rate shown is the annualized seven-day yield as of 4-30-25.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
MULTIFACTOR SMALL CAP ETF
As of 4-30-25
  Shares or
Principal
Amount 		Value
COMMON STOCKS – 99.2%   $480,206,536
(Cost $487,884,217)    
Communication services – 1.9% 9,128,208
Diversified telecommunication services – 0.7%  
Iridium Communications, Inc. 19,753 476,640
Liberty Global, Ltd., Class A (A) 66,390 726,971
Liberty Global, Ltd., Class C (A) 63,360 718,502
Lumen Technologies, Inc. (A) 343,013 1,214,266
Entertainment – 0.4%  
Cinemark Holdings, Inc. (B) 23,162 692,775
Madison Square Garden Sports Corp. (A) 7,189 1,384,386
Interactive media and services – 0.2%  
CarGurus, Inc. (A) 17,064 477,109
ZoomInfo Technologies, Inc. (A) 58,160 497,850
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Communication services (continued)  
Media – 0.4%  
Nexstar Media Group, Inc. 10,365 $1,551,226
TEGNA, Inc. 32,692 530,591
Wireless telecommunication services – 0.2%  
Telephone & Data Systems, Inc. 17,823 668,184
United States Cellular Corp. (A) 2,763 189,708
Consumer discretionary – 13.1% 63,312,392
Automobile components – 1.5%  
BorgWarner, Inc. 49,005 1,390,762
Dorman Products, Inc. (A) 5,174 586,214
Gentex Corp. 51,177 1,114,635
Lear Corp. 20,287 1,739,610
Modine Manufacturing Company (A) 20,898 1,706,113
Patrick Industries, Inc. 6,586 506,990
Automobiles – 0.6%  
Harley-Davidson, Inc. 46,801 1,049,278
Lucid Group, Inc. (A)(B) 255,195 640,539
Thor Industries, Inc. (B) 18,405 1,332,890
Broadline retail – 1.0%  
Dillard’s, Inc., Class A (B) 1,216 421,539
Etsy, Inc. (A) 37,593 1,634,544
Macy’s, Inc. 55,931 638,732
Ollie’s Bargain Outlet Holdings, Inc. (A) 20,778 2,204,754
Diversified consumer services – 1.3%  
ADT, Inc. 165,195 1,324,864
Adtalem Global Education, Inc. (A) 7,372 782,906
frontdoor, Inc. (A) 16,207 666,270
Graham Holdings Company, Class B 627 576,871
Grand Canyon Education, Inc. (A) 5,577 994,769
Laureate Education, Inc., Class A (A) 25,001 501,770
Stride, Inc. (A) 8,231 1,170,860
Hotels, restaurants and leisure – 2.2%  
Brinker International, Inc. (A) 5,074 681,438
Caesars Entertainment, Inc. (A) 45,196 1,223,004
Choice Hotels International, Inc. 9,898 1,248,237
Global Business Travel Group I (A) 20,810 139,635
Hilton Grand Vacations, Inc. (A)(B) 14,562 489,720
Life Time Group Holdings, Inc. (A) 28,705 880,095
Planet Fitness, Inc., Class A (A) 26,502 2,506,824
Shake Shack, Inc., Class A (A) 8,145 714,642
The Wendy’s Company (B) 34,318 428,975
Travel + Leisure Company 13,097 575,351
Vail Resorts, Inc. 13,070 1,819,344
Wyndham Hotels & Resorts, Inc. 105 8,957
Household durables – 1.7%  
Cavco Industries, Inc. (A) 1,586 783,246
Champion Homes, Inc. (A) 20,244 1,751,106
Installed Building Products, Inc. 9,292 1,540,892
Mohawk Industries, Inc. (A) 42 4,467
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 36
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Household durables (continued)  
Taylor Morrison Home Corp. (A) 34,763 $1,993,658
Tri Pointe Homes, Inc. (A) 17,807 547,565
Whirlpool Corp. (B) 21,586 1,646,580
Leisure products – 0.9%  
Acushnet Holdings Corp. (B) 5,276 349,377
Brunswick Corp. 27,674 1,274,388
Mattel, Inc. (A) 113,281 1,800,035
Peloton Interactive, Inc., Class A (A) 77,562 534,402
YETI Holdings, Inc. (A) 16,708 477,013
Specialty retail – 3.0%  
Abercrombie & Fitch Company, Class A (A) 19,041 1,321,826
Academy Sports & Outdoors, Inc. 14,080 530,534
Asbury Automotive Group, Inc. (A) 7,312 1,595,040
AutoNation, Inc. (A) 11,948 2,080,744
Bath & Body Works, Inc. 73,922 2,255,360
Boot Barn Holdings, Inc. (A) 6,521 680,401
Group 1 Automotive, Inc. 4,649 1,876,476
RH (A) 3,328 612,452
Urban Outfitters, Inc. (A) 13,508 712,952
Valvoline, Inc. (A) 48,504 1,661,747
Wayfair, Inc., Class A (A)(B) 44,195 1,332,921
Textiles, apparel and luxury goods – 0.9%  
Columbia Sportswear Company 6,105 379,548
Crocs, Inc. (A) 10,498 1,012,217
Kontoor Brands, Inc. 11,129 669,409
Levi Strauss & Company, Class A 39,524 632,779
PVH Corp. 22,512 1,552,878
VF Corp. 105 1,247
Consumer staples – 2.2% 10,500,315
Beverages – 0.1%  
National Beverage Corp. 4,534 201,310
Food products – 1.8%  
Cal-Maine Foods, Inc. 8,036 750,321
Darling Ingredients, Inc. (A) 59,318 1,909,446
Flowers Foods, Inc. 76,154 1,339,549
Freshpet, Inc. (A) 19,385 1,425,573
Lancaster Colony Corp. 3,923 638,586
Post Holdings, Inc. (A) 16,201 1,833,467
The Simply Good Foods Company (A) 19,143 691,254
Household products – 0.2%  
Reynolds Consumer Products, Inc. 21,082 484,886
WD-40 Company 2,659 607,209
Personal care products – 0.1%  
e.l.f. Beauty, Inc. (A) 3,468 214,565
Interparfums, Inc. 3,701 404,149
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Energy – 3.8% $18,439,597
Energy equipment and services – 1.5%  
Archrock, Inc. 37,142 873,951
Cactus, Inc., Class A 14,487 549,637
ChampionX Corp. 67,645 1,632,274
Kodiak Gas Services, Inc. 10,289 349,929
Noble Corp. PLC 52,924 1,150,568
NOV, Inc. 139,455 1,619,073
Patterson-UTI Energy, Inc. 82,336 464,375
Weatherford International PLC 21,147 875,486
Oil, gas and consumable fuels – 2.3%  
APA Corp. 454 7,055
California Resources Corp. 18,477 637,641
Chord Energy Corp. 6,958 627,820
Civitas Resources, Inc. 39,996 1,089,891
CNX Resources Corp. (A) 27,224 801,202
Comstock Resources, Inc. (A) 14,331 261,827
Core Natural Resources, Inc. 10,630 767,592
Crescent Energy, Inc., Class A 38,967 322,647
Excelerate Energy, Inc., Class A 2,910 74,438
HF Sinclair Corp. 105 3,157
Magnolia Oil & Gas Corp., Class A 71,407 1,465,986
Matador Resources Company 44,840 1,772,974
Murphy Oil Corp. 58,070 1,192,177
Northern Oil & Gas, Inc. 20,881 507,408
Sitio Royalties Corp., Class A 15,336 260,099
SM Energy Company 49,688 1,132,390
Financials – 20.2% 97,704,175
Banks – 8.6%  
Ameris Bancorp 13,680 801,648
Associated Banc-Corp. 33,760 744,746
Atlantic Union Bankshares Corp. 17,970 497,769
Axos Financial, Inc. (A) 11,161 708,500
BancFirst Corp. 3,748 441,589
Bank OZK 40,324 1,717,802
BOK Financial Corp. 8,918 830,890
Cadence Bank 66,014 1,931,570
Cathay General Bancorp 13,811 575,781
Columbia Banking System, Inc. 76,803 1,721,923
Community Financial System, Inc. 10,650 581,384
Eastern Bankshares, Inc. 40,377 602,425
First BanCorp 32,634 640,932
First Financial Bankshares, Inc. 45,589 1,527,687
First Hawaiian, Inc. 25,512 583,204
First Interstate BancSystem, Inc., Class A 17,845 467,450
Flagstar Financial, Inc. (B) 66,985 784,394
FNB Corp. 133,961 1,753,549
Fulton Financial Corp. 37,151 619,679
Glacier Bancorp, Inc. 41,992 1,711,594
Hancock Whitney Corp. 17,664 920,118
Home BancShares, Inc. 66,530 1,846,208
37 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Banks (continued)  
Independent Bank Corp. 8,720 $515,265
International Bancshares Corp. 11,792 719,784
Old National Bancorp 109,300 2,250,487
Popular, Inc. 24,576 2,345,042
Prosperity Bancshares, Inc. 31,521 2,140,276
ServisFirst Bancshares, Inc. 10,326 735,418
Synovus Financial Corp. 47,046 2,038,033
Texas Capital Bancshares, Inc. (A) 9,449 643,949
TFS Financial Corp. 10,070 130,507
UMB Financial Corp. 20,083 1,899,249
United Bankshares, Inc. 51,647 1,770,976
United Community Banks, Inc. 24,732 682,851
Valley National Bancorp 100,044 860,378
WSFS Financial Corp. 11,805 608,548
Zions Bancorp NA 49,922 2,244,992
Capital markets – 3.0%  
Affiliated Managers Group, Inc. 10,867 1,799,901
Artisan Partners Asset Management, Inc., Class A 14,000 517,720
BGC Group, Inc., Class A 145,329 1,316,681
Cohen & Steers, Inc. 5,661 432,048
Federated Hermes, Inc. 15,830 642,856
Invesco, Ltd. 44,124 614,647
Janus Henderson Group PLC 47,542 1,578,870
Lazard, Inc. 41,495 1,614,156
Moelis & Company, Class A 15,159 812,219
Piper Sandler Companies 6,867 1,655,771
PJT Partners, Inc., Class A 9,018 1,277,941
StoneX Group, Inc. (A) 8,136 720,565
Victory Capital Holdings, Inc., Class A 10,032 574,733
Virtu Financial, Inc., Class A 16,592 649,577
Consumer finance – 1.5%  
Credit Acceptance Corp. (A)(B) 2,014 981,664
FirstCash Holdings, Inc. 14,609 1,957,022
Nelnet, Inc., Class A 2,718 288,353
OneMain Holdings, Inc. 43,478 2,046,509
SLM Corp. 73,163 2,115,142
Financial services – 2.9%  
Enact Holdings, Inc. 11,494 411,370
Essent Group, Ltd. 35,941 2,046,121
Euronet Worldwide, Inc. (A) 16,676 1,652,592
Jackson Financial, Inc., Class A 25,967 2,023,089
MGIC Investment Corp. 86,233 2,148,064
Paymentus Holdings, Inc., Class A (A) 5,562 180,543
Payoneer Global, Inc. (A) 58,924 414,236
PennyMac Financial Services, Inc. 10,630 1,035,787
The Western Union Company 67,287 666,814
Voya Financial, Inc. 32,824 1,943,181
Walker & Dunlop, Inc. 6,575 503,251
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Financial services (continued)  
WEX, Inc. (A) 8,461 $1,103,061
Insurance – 4.2%  
Assured Guaranty, Ltd. 9,312 816,942
Axis Capital Holdings, Ltd. 24,481 2,358,010
Brighthouse Financial, Inc. (A) 12,204 710,517
Enstar Group, Ltd. (A) 4,182 1,398,503
F&G Annuities & Life, Inc. 7,085 246,629
First American Financial Corp. 34,415 2,092,776
Genworth Financial, Inc., Class A (A) 84,510 579,739
Goosehead Insurance, Inc., Class A 4,308 418,781
Hagerty, Inc., Class A (A) 5,828 51,345
Kemper Corp. 12,339 729,482
Lincoln National Corp. 61,773 1,968,706
Mercury General Corp. 5,090 282,088
Palomar Holdings, Inc. (A) 5,279 765,561
RLI Corp. 29,928 2,214,971
Selective Insurance Group, Inc. 21,463 1,872,217
The Baldwin Insurance Group, Inc. (A) 26,573 1,105,968
The Hanover Insurance Group, Inc. 11,404 1,894,204
White Mountains Insurance Group, Ltd. 496 876,655
Health care – 7.0% 33,826,323
Biotechnology – 2.5%  
ACADIA Pharmaceuticals, Inc. (A) 25,935 378,651
ADMA Biologics, Inc. (A) 44,051 1,048,414
Akero Therapeutics, Inc. (A) 16,004 729,942
Alkermes PLC (A) 30,697 883,153
BridgeBio Pharma, Inc. (A) 54,999 2,109,762
Crinetics Pharmaceuticals, Inc. (A) 18,762 626,463
CRISPR Therapeutics AG (A)(B) 16,607 642,193
Cytokinetics, Inc. (A) 42 1,799
Halozyme Therapeutics, Inc. (A) 13,709 842,007
Krystal Biotech, Inc. (A) 9,630 1,635,944
PTC Therapeutics, Inc. (A) 16,400 817,376
REVOLUTION Medicines, Inc. (A) 61,225 2,472,266
Health care equipment and supplies – 1.7%  
Dentsply Sirona, Inc. 81,284 1,129,848
Envista Holdings Corp. (A) 35,988 578,687
Haemonetics Corp. (A) 9,714 612,176
ICU Medical, Inc. (A) 4,720 644,705
Integer Holdings Corp. (A) 6,786 857,140
Lantheus Holdings, Inc. (A) 21,778 2,272,317
Merit Medical Systems, Inc. (A) 19,872 1,876,910
Teleflex, Inc. 63 8,634
Health care providers and services – 1.6%  
Acadia Healthcare Company, Inc. (A) 8,103 189,610
Amedisys, Inc. (A) 6,070 576,043
BrightSpring Health Services, Inc. (A)(B) 11,384 199,562
Concentra Group Holdings Parent, Inc. 22,889 497,836
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 38
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care (continued)  
Health care providers and services (continued)  
CorVel Corp. (A) 11,174 $1,215,284
Guardant Health, Inc. (A) 24,351 1,150,098
Hims & Hers Health, Inc. (A)(B) 105 3,476
LifeStance Health Group, Inc. (A) 18,267 120,014
Option Care Health, Inc. (A) 56,508 1,825,773
Privia Health Group, Inc. (A) 19,657 461,546
RadNet, Inc. (A) 27,498 1,440,345
Surgery Partners, Inc. (A) 13,449 295,206
Life sciences tools and services – 0.1%  
Sotera Health Company (A) 32,500 373,750
Pharmaceuticals – 1.1%  
Corcept Therapeutics, Inc. (A) 19,640 1,411,723
Elanco Animal Health, Inc. (A) 110,733 1,049,749
Jazz Pharmaceuticals PLC (A) 84 9,825
Organon & Company 104,472 1,350,823
Perrigo Company PLC 26,540 682,609
Prestige Consumer Healthcare, Inc. (A) 9,906 804,664
Industrials – 21.6% 104,741,985
Aerospace and defense – 1.6%  
AeroVironment, Inc. (A) 11,229 1,701,418
Hexcel Corp. 31,173 1,510,955
Huntington Ingalls Industries, Inc. 1,808 416,455
Kratos Defense & Security Solutions, Inc. (A) 29,994 1,013,347
Loar Holdings, Inc. (A) 8,102 766,287
Moog, Inc., Class A 10,712 1,791,582
Spirit AeroSystems Holdings, Inc., Class A (A) 22,952 826,272
Air freight and logistics – 0.3%  
GXO Logistics, Inc. (A) 46,103 1,670,773
Building products – 3.7%  
AAON, Inc. 24,635 2,248,436
Armstrong World Industries, Inc. 14,930 2,165,149
AZZ, Inc. 6,177 535,917
CSW Industrials, Inc. 6,055 1,892,066
Fortune Brands Innovations, Inc. 168 9,042
Griffon Corp. 9,284 632,333
Hayward Holdings, Inc. (A) 39,338 524,376
Simpson Manufacturing Company, Inc. 8,768 1,347,554
Tecnoglass, Inc. 4,966 353,927
The AZEK Company, Inc. (A) 48,066 2,382,151
Trex Company, Inc. (A) 38,081 2,201,843
UFP Industries, Inc. 19,520 1,929,552
Zurn Elkay Water Solutions Corp. 52,868 1,795,397
Commercial services and supplies – 1.7%  
ABM Industries, Inc. 12,489 608,714
Brady Corp., Class A 8,791 617,919
Casella Waste Systems, Inc., Class A (A) 20,349 2,389,990
Driven Brands Holdings, Inc. (A) 11,848 195,729
MSA Safety, Inc. 13,238 2,083,926
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Commercial services and supplies (continued)  
The Brink’s Company 17,800 $1,588,472
UniFirst Corp. 3,056 545,404
Construction and engineering – 2.0%  
Arcosa, Inc. 10,053 804,944
Dycom Industries, Inc. (A) 11,101 1,859,973
Fluor Corp. (A) 35,431 1,236,188
Granite Construction, Inc. 8,835 718,197
IES Holdings, Inc. (A) 1,790 352,057
Primoris Services Corp. 10,755 644,977
Sterling Infrastructure, Inc. (A) 6,196 925,868
Valmont Industries, Inc. 6,890 2,020,286
WillScot Holdings Corp. 41,626 1,045,645
Electrical equipment – 0.8%  
EnerSys 7,888 683,101
Generac Holdings, Inc. (A) 84 9,608
NEXTracker, Inc., Class A (A) 48,841 1,983,433
Sensata Technologies Holding PLC 61,036 1,306,170
Ground transportation – 0.9%  
Knight-Swift Transportation Holdings, Inc. 227 8,892
Landstar System, Inc. 12,589 1,688,814
RXO, Inc. (A) 32,400 456,516
Ryder System, Inc. 13,524 1,861,849
Schneider National, Inc., Class B 7,333 157,586
Machinery – 4.2%  
AGCO Corp. 13,521 1,146,986
Atmus Filtration Technologies, Inc. 17,625 611,059
Chart Industries, Inc. (A) 63 8,504
Enpro, Inc. 4,363 651,832
Esab Corp. 20,054 2,408,886
ESCO Technologies, Inc. 5,161 807,438
Federal Signal Corp. 22,128 1,801,883
Flowserve Corp. 47,294 2,139,108
Franklin Electric Company, Inc. 8,006 680,190
Gates Industrial Corp. PLC (A) 51,065 966,150
Kadant, Inc. 2,393 705,935
Mueller Water Products, Inc., Class A 31,649 830,470
Oshkosh Corp. 23,335 1,954,540
SPX Technologies, Inc. (A) 16,165 2,168,535
The Timken Company 24,905 1,600,146
Watts Water Technologies, Inc., Class A 8,245 1,712,899
Marine transportation – 0.1%  
Kirby Corp. (A) 5,888 567,427
Matson, Inc. 1,701 185,562
Passenger airlines – 0.2%  
Copa Holdings SA, Class A 6,298 577,904
SkyWest, Inc. (A) 2,107 187,881
Professional services – 3.9%  
Alight, Inc., Class A 89,219 455,909
39 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Professional services (continued)  
CBIZ, Inc. (A) 10,636 $724,312
Clarivate PLC (A) 169,691 731,368
Concentrix Corp. (B) 22,281 1,137,668
Dun & Bradstreet Holdings, Inc. 122,137 1,095,569
ExlService Holdings, Inc. (A) 52,677 2,553,781
Exponent, Inc. 19,387 1,525,369
FTI Consulting, Inc. (A) 7,379 1,226,980
Insperity, Inc. 6,915 449,544
KBR, Inc. 26,067 1,376,598
Korn Ferry 10,293 635,078
Maximus, Inc. 21,120 1,414,195
Parsons Corp. (A) 10,339 691,266
Robert Half, Inc. 23,432 1,038,038
Science Applications International Corp. 17,312 2,095,271
TriNet Group, Inc. 11,990 939,177
Verra Mobility Corp. (A) 31,188 679,898
Trading companies and distributors – 2.2%  
Air Lease Corp. 38,952 1,821,396
Boise Cascade Company 15,440 1,440,243
GATX Corp. 12,757 1,862,012
GMS, Inc. (A) 7,737 566,813
H&E Equipment Services, Inc. 6,179 554,936
Herc Holdings, Inc. 6,140 671,962
McGrath RentCorp 5,022 535,697
MSC Industrial Direct Company, Inc., Class A (B) 9,187 702,622
Rush Enterprises, Inc., Class A 12,965 661,085
Rush Enterprises, Inc., Class B 1,462 84,562
SiteOne Landscape Supply, Inc. (A) 16,098 1,848,211
Information technology – 12.2% 58,835,415
Communications equipment – 0.2%  
Lumentum Holdings, Inc. (A) 14,625 863,460
Electronic equipment, instruments and components – 4.5%  
Advanced Energy Industries, Inc. 7,963 775,676
Arrow Electronics, Inc. (A) 18,729 2,085,661
Avnet, Inc. 33,547 1,576,374
Badger Meter, Inc. 10,036 2,216,150
Belden, Inc. 8,377 863,752
Cognex Corp. 61,744 1,685,611
Crane NXT Company 9,972 467,886
Fabrinet (A) 7,511 1,540,206
Insight Enterprises, Inc. (A) 11,487 1,588,422
Itron, Inc. (A) 9,222 1,026,316
Littelfuse, Inc. 9,147 1,667,590
Mirion Technologies, Inc. (A) 40,638 641,268
Novanta, Inc. (A) 13,169 1,565,267
OSI Systems, Inc. (A) 3,320 679,737
Plexus Corp. (A) 5,551 679,609
Sanmina Corp. (A) 11,471 880,858
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Electronic equipment, instruments and
components (continued) 		 
Vontier Corp. 55,851 $1,776,620
IT services – 0.5%  
ASGN, Inc. (A) 8,619 434,225
DigitalOcean Holdings, Inc. (A) 11,607 358,656
DXC Technology Company (A) 35,584 552,264
Globant SA (A)(B) 8,751 1,028,855
Semiconductors and semiconductor equipment – 2.2%  
Allegro MicroSystems, Inc. (A) 20,984 400,165
Amkor Technology, Inc. 22,043 384,650
Cirrus Logic, Inc. (A) 18,761 1,801,806
Lattice Semiconductor Corp. (A) 168 8,220
MKS Instruments, Inc. 16,451 1,153,873
Onto Innovation, Inc. (A) 10,509 1,281,783
Power Integrations, Inc. 11,400 559,968
Qorvo, Inc. (A) 19,205 1,376,422
Rambus, Inc. (A) 38,214 1,864,461
Semtech Corp. (A) 18,082 565,063
Silicon Laboratories, Inc. (A) 6,537 665,205
SiTime Corp. (A) 3,735 548,522
Universal Display Corp. 42 5,276
Software – 4.8%  
ACI Worldwide, Inc. (A) 38,192 2,037,925
Alarm.com Holdings, Inc. (A) 9,184 492,262
BILL Holdings, Inc. (A) 38,132 1,737,675
Blackbaud, Inc. (A) 9,802 593,413
Blackline, Inc. (A) 11,358 536,438
Box, Inc., Class A (A) 26,588 830,077
C3.Ai, Inc., Class A (A) 23,528 517,851
CCC Intelligent Solutions Holdings, Inc. (A) 188,466 1,745,195
Clear Secure, Inc., Class A 18,398 454,063
CommVault Systems, Inc. (A) 14,618 2,443,106
Core Scientific, Inc. (A) 59,002 477,916
Dolby Laboratories, Inc., Class A 21,974 1,687,383
Freshworks, Inc., Class A (A) 47,045 694,855
InterDigital, Inc. 5,245 1,054,245
JFrog, Ltd. (A) 18,516 625,285
NCino, Inc. (A)(B) 21,865 507,268
Pegasystems, Inc. 17,863 1,644,825
Qualys, Inc. (A) 7,188 903,603
SentinelOne, Inc., Class A (A) 62,302 1,152,587
SPS Commerce, Inc. (A) 10,030 1,439,405
UiPath, Inc., Class A (A) 210 2,507
Vertex, Inc., Class A (A) 23,676 947,750
Workiva, Inc. (A) 9,830 739,904
Materials – 5.3% 25,712,201
Chemicals – 2.5%  
Avient Corp. 18,706 623,097
Balchem Corp. 11,501 1,800,482
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 40
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Materials (continued)  
Chemicals (continued)  
Cabot Corp. 20,899 $1,641,407
Element Solutions, Inc. 82,171 1,677,110
FMC Corp. 24,648 1,033,244
HB Fuller Company 11,023 595,683
Huntsman Corp. 33,730 448,946
NewMarket Corp. 2,844 1,749,913
Olin Corp. 48,109 1,040,117
Sensient Technologies Corp. 8,302 779,973
The Scotts Miracle-Gro Company 10,672 537,655
Construction materials – 0.2%  
Knife River Corp. (A) 12,251 1,143,998
Containers and packaging – 1.0%  
Sealed Air Corp. 57,456 1,583,487
Silgan Holdings, Inc. 33,555 1,733,116
Sonoco Products Company 37,117 1,521,797
Metals and mining – 1.1%  
Alcoa Corp. 395 9,689
Cleveland-Cliffs, Inc. (A) 197,411 1,626,667
Coeur Mining, Inc. (A) 114,368 634,742
Commercial Metals Company 42,432 1,889,921
Hecla Mining Company 119,239 682,047
MP Materials Corp. (A) 25,220 616,881
Paper and forest products – 0.5%  
Louisiana-Pacific Corp. 22,320 1,926,439
Sylvamo Corp. 6,974 415,790
Real estate – 7.2% 35,005,602
Diversified REITs – 0.6%  
Broadstone Net Lease, Inc. 36,547 591,330
Essential Properties Realty Trust, Inc. 65,180 2,096,841
Health care REITs – 1.2%  
American Healthcare REIT, Inc. 30,561 986,509
CareTrust REIT, Inc. 36,674 1,073,448
Healthcare Realty Trust, Inc. 123,522 1,918,297
Medical Properties Trust, Inc. 106,633 588,614
National Health Investors, Inc. 8,410 636,385
Sabra Health Care REIT, Inc. 45,771 817,012
Hotel and resort REITs – 0.5%  
Apple Hospitality REIT, Inc. 42,895 504,874
Ryman Hospitality Properties, Inc. 20,498 1,802,799
Industrial REITs – 1.1%  
Americold Realty Trust, Inc. 62,335 1,205,559
First Industrial Realty Trust, Inc. 14,797 704,041
STAG Industrial, Inc. 47,527 1,569,817
Terreno Realty Corp. 33,011 1,859,510
Office REITs – 1.3%  
COPT Defense Properties 22,246 580,843
Cousins Properties, Inc. 34,066 938,178
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Real estate (continued)  
Office REITs (continued)  
Douglas Emmett, Inc. 33,380 $461,645
Highwoods Properties, Inc. 21,606 614,475
Kilroy Realty Corp. 23,893 752,868
SL Green Realty Corp. 14,685 772,578
Vornado Realty Trust 61,663 2,175,471
Real estate management and development – 0.1%  
Howard Hughes Holdings, Inc. (A) 6,090 405,168
Newmark Group, Inc., Class A 27,473 301,928
Residential REITs – 0.2%  
Independence Realty Trust, Inc. 46,197 897,608
Retail REITs – 1.5%  
Agree Realty Corp. 34,014 2,639,827
Kite Realty Group Trust 79,195 1,714,572
Phillips Edison & Company, Inc. 46,771 1,622,954
Tanger, Inc. 22,017 693,756
The Macerich Company 50,139 735,038
Specialized REITs – 0.7%  
EPR Properties 14,756 730,274
Four Corners Property Trust, Inc. 19,470 544,187
Millrose Properties, Inc., Class A 23,617 591,370
National Storage Affiliates Trust 27,568 1,025,530
Outfront Media, Inc. 29,894 452,296
Utilities – 4.7% 23,000,323
Electric utilities – 1.4%  
ALLETE, Inc. 10,964 718,032
IDACORP, Inc. 18,707 2,209,110
MGE Energy, Inc. 7,303 660,337
Otter Tail Corp. 8,160 647,741
Portland General Electric Company 39,947 1,682,568
TXNM Energy, Inc. 18,708 995,266
Gas utilities – 2.3%  
Chesapeake Utilities Corp. 4,462 587,512
MDU Resources Group, Inc. 79,360 1,360,230
National Fuel Gas Company 30,128 2,313,228
New Jersey Resources Corp. 19,970 977,332
ONE Gas, Inc. 11,928 936,467
Southwest Gas Holdings, Inc. 23,045 1,664,079
Spire, Inc. 11,395 872,173
UGI Corp. 72,592 2,380,292
Independent power and renewable electricity producers –
0.4% 		 
Clearway Energy, Inc., Class A 15,209 415,966
Clearway Energy, Inc., Class C 30,217 886,567
Ormat Technologies, Inc. 11,568 839,837
Multi-utilities – 0.5%  
Avista Corp. 16,046 665,428
Black Hills Corp. 14,410 877,569
Northwestern Energy Group, Inc. 12,290 715,647
41 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Utilities (continued)  
Water utilities – 0.1%  
American States Water Company 7,335 $594,942
SHORT-TERM INVESTMENTS – 0.4%   $1,738,167
(Cost $1,738,118)    
Short-term funds – 0.4% 1,738,167
John Hancock Collateral Trust, 4.2081% (C)(D) 121,205 1,212,438
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.2762% (C) 525,729 525,729
Total investments (Multifactor Small Cap ETF) (Cost $489,622,335) 99.6% $481,944,703
Other assets and liabilities, net 0.4%   2,103,815
Total net assets 100.0%   $484,048,518
    
MULTIFACTOR SMALL CAP ETF (continued)
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Non-income producing security.
(B) All or a portion of this security is on loan as of 4-30-25.
(C) The rate shown is the annualized seven-day yield as of 4-30-25.
(D) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
DERIVATIVES
FUTURES
Open contracts Number of
contracts 		Position Expiration
date 		Notional
basis^ 		Notional
value^ 		Unrealized
appreciation
(depreciation)
S&P 500 E-Mini Index Futures 11 Long Jun 2025 $3,050,726 $3,072,850 $22,124
            $22,124
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
See Notes to financial statements regarding investment transactions and other derivatives information.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 42
Table of Contents
Financial statements
STATEMENTS OF ASSETS AND LIABILITIES 4-30-25
  Multifactor Developed International ETF Multifactor Emerging Markets ETF Multifactor Large Cap ETF Multifactor Mid Cap ETF
Assets        
Unaffiliated investments, at value $673,160,003 $582,615,888 $891,319,468 $3,789,852,300
Affiliated investments, at value 16,563,914 1,690,756 36,256 3,813,897
Total investments, at value 689,723,917 584,306,644 891,355,724 3,793,666,197
Receivable for futures variation margin 8,675 — — —
Foreign currency, at value 2,417,382 2,031,604 — —
Collateral held at broker for futures contracts 57,645 — — —
Dividends and interest receivable 4,335,854 940,827 514,338 1,153,183
Receivable for fund shares sold — — 1,666,450 —
Receivable for investments sold — — — 775,695
Receivable for securities lending income 21,139 10,213 514 8,666
Other assets 27,458 34,617 42,190 128,199
Total assets 696,592,070 587,323,905 893,579,216 3,795,731,940
Liabilities        
Foreign capital gains tax payable — 7,772,794 — —
Payable for investments purchased 4,139 64,030 1,665,521 —
Payable upon return of securities loaned 16,557,083 1,690,292 36,069 3,816,098
Payable to affiliates        
Investment management fees 175,735 164,067 156,612 1,090,992
Accounting and legal services fees 19,397 16,789 25,583 108,403
Trustees’ fees 1,061 929 1,451 5,764
Other liabilities and accrued expenses 157,483 305,027 143,461 470,714
Total liabilities 16,914,898 10,013,928 2,028,697 5,491,971
Net assets $679,677,172 $577,309,977 $891,550,519 $3,790,239,969
Net assets consist of        
Paid-in capital $668,365,282 $576,886,981 $776,311,640 $3,556,166,111
Total distributable earnings (loss) 11,311,890 422,996 115,238,879 234,073,858
Net assets $679,677,172 $577,309,977 $891,550,519 $3,790,239,969
Unaffiliated investments, at cost $576,674,831 $475,439,407 $710,742,270 $3,294,179,451
Affiliated investments, at cost $16,562,447 $1,690,720 $36,253 $3,813,665
Foreign currency, at cost $2,388,506 $2,017,663 — —
Securities loaned, at value $32,390,453 $8,073,473 $2,606,902 $44,410,595
Net asset value per share        
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.        
Net assets $679,677,172 $577,309,977 $891,550,519 $3,790,239,969
Shares outstanding 18,700,000 21,500,000 13,375,000 67,500,000
Net asset value per share $36.35 $26.85 $66.66 $56.15
43 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES 4-30-25
Continued
  Multifactor Small Cap ETF
Assets  
Unaffiliated investments, at value $480,732,265
Affiliated investments, at value 1,212,438
Total investments, at value 481,944,703
Receivable for futures variation margin 22,150
Collateral held at broker for futures contracts 221,123
Dividends and interest receivable 141,842
Receivable for investments sold 6,734,545
Receivable for securities lending income 1,573
Other assets 24,341
Total assets 489,090,277
Liabilities  
Payable for investments purchased 3,003
Payable for fund shares repurchased 3,592,196
Payable upon return of securities loaned 1,212,362
Payable to affiliates  
Investment management fees 121,746
Accounting and legal services fees 13,469
Trustees’ fees 780
Other liabilities and accrued expenses 98,203
Total liabilities 5,041,759
Net assets $484,048,518
Net assets consist of  
Paid-in capital $632,889,457
Total distributable earnings (loss) (148,840,939)
Net assets $484,048,518
Unaffiliated investments, at cost $488,409,946
Affiliated investments, at cost $1,212,389
Securities loaned, at value $9,938,615
Net asset value per share  
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.  
Net assets $484,048,518
Shares outstanding 13,475,000
Net asset value per share $35.92
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 44
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-25
  Multifactor Developed International ETF Multifactor Emerging Markets ETF Multifactor Large Cap ETF Multifactor Mid Cap ETF
Investment income        
Dividends from unaffiliated investments $24,312,934 $22,388,129 $13,962,418 $57,141,507
Securities lending 112,137 87,980 27,300 339,258
Interest 10,208 — 417 3,174
Less foreign taxes withheld (2,172,068) (2,901,698) (4,298) (26,692)
Total investment income 22,263,211 19,574,411 13,985,837 57,457,247
Expenses        
Investment management fees 2,433,173 2,848,592 2,417,917 14,552,638
Accounting and legal services fees 122,535 114,649 164,978 700,362
Transfer agent fees 10,000 10,000 10,000 10,000
Trustees’ fees 16,183 15,415 21,284 88,470
Custodian fees 233,259 606,677 164,772 639,071
Printing and postage 42,459 28,581 54,597 214,908
Professional fees 59,132 57,603 65,058 154,231
Stock exchange listing fees 10,211 17,572 10,211 15,790
Other 31,337 46,182 34,603 104,509
Total expenses 2,958,289 3,745,271 2,943,420 16,479,979
Less expense reductions (244,048) (555,625) (245,759) (331,064)
Net expenses 2,714,241 3,189,646 2,697,661 16,148,915
Net investment income 19,548,970 16,384,765 11,288,176 41,308,332
Realized and unrealized gain (loss)        
Net realized gain (loss) on        
Unaffiliated investments and foreign currency transactions (19,123,924) (14,428,846)1 (7,936,154) (59,888,864)
Affiliated investments 2,464 (79) 50 1,558
Futures contracts 68,587 (36,179) (89,197) (771,382)
Redemptions in-kind 61,107,392 10,568,963 45,726,311 215,254,474
  42,054,519 (3,896,141) 37,701,010 154,595,786
Change in net unrealized appreciation (depreciation) of        
Unaffiliated investments and translation of assets and liabilities in foreign currencies 14,755,277 22,389,970 28,683,353 (24,159,590)
Affiliated investments 2,070 45 17 388
Futures contracts 8,668 — — —
  14,766,015 22,390,015 28,683,370 (24,159,202)
Net realized and unrealized gain 56,820,534 18,493,874 66,384,380 130,436,584
Increase in net assets from operations $76,369,504 $34,878,639 $77,672,556 $171,744,916
    
   
1 Net of foreign capital gains taxes of $2,467,778.
45 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-25
Continued
    
  Multifactor Small Cap ETF
Investment income  
Dividends from unaffiliated investments $7,128,938
Securities lending 22,979
Interest 593
Less foreign taxes withheld (6,544)
Total investment income 7,145,966
Expenses  
Investment management fees 1,906,633
Accounting and legal services fees 86,969
Transfer agent fees 10,000
Trustees’ fees 11,182
Custodian fees 94,900
Printing and postage 36,204
Professional fees 51,669
Stock exchange listing fees 10,211
Other 22,764
Total expenses 2,230,532
Less expense reductions (177,228)
Net expenses 2,053,304
Net investment income 5,092,662
Realized and unrealized gain (loss)  
Net realized gain (loss) on  
Unaffiliated investments and foreign currency transactions (20,529,575)
Affiliated investments (146)
Futures contracts (31,644)
Redemptions in-kind 59,084,270
  38,522,905
Change in net unrealized appreciation (depreciation) of  
Unaffiliated investments and translation of assets and liabilities in foreign currencies (42,771,438)
Affiliated investments 223
Futures contracts 22,124
  (42,749,091)
Net realized and unrealized loss (4,226,186)
Increase in net assets from operations $866,476
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 46
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
  Multifactor Developed
International ETF 		Multifactor Emerging Markets ETF Multifactor Large Cap ETF
  Year ended
4-30-25 		Year ended
4-30-24 		Year ended
4-30-25 		Year ended
4-30-24 		Year ended
4-30-25 		Year ended
4-30-24
Increase (decrease) in net assets            
From operations            
Net investment income $19,548,970 $16,454,562 $16,384,765 $16,683,379 $11,288,176 $11,022,940
Net realized gain (loss) 42,054,519 5,617,026 (3,896,141) (12,260,151) 37,701,010 48,849,678
Change in net unrealized appreciation 14,766,015 36,040,570 22,390,015 66,457,911 28,683,370 77,755,355
Increase in net assets resulting from operations 76,369,504 58,112,158 34,878,639 70,881,139 77,672,556 137,627,973
Distributions to shareholders            
From earnings (23,913,029) (16,293,074) (18,742,260) (19,525,171) (11,075,181) (11,097,084)
From fund share transactions            
Shares issued 100,355,577 236,880,725 16,271,467 15,277,223 87,238,616 140,982,328
Shares repurchased (177,011,837) (61,499,621) (133,484,331) (91,615,740) (96,470,958) (151,939,289)
Total from fund share transactions (76,656,260) 175,381,104 (117,212,864) (76,338,517) (9,232,342) (10,956,961)
Total increase (decrease) (24,199,785) 217,200,188 (101,076,485) (24,982,549) 57,365,033 115,573,928
Net assets            
Beginning of year 703,876,957 486,676,769 678,386,462 703,369,011 834,185,486 718,611,558
End of year $679,677,172 $703,876,957 $577,309,977 $678,386,462 $891,550,519 $834,185,486
Share activity            
Shares outstanding            
Beginning of year 21,000,000 15,500,000 25,900,000 29,000,000 13,500,000 13,750,000
Shares issued 2,900,000 7,400,000 600,000 600,000 1,300,000 2,500,000
Shares repurchased (5,200,000) (1,900,000) (5,000,000) (3,700,000) (1,425,000) (2,750,000)
End of year 18,700,000 21,000,000 21,500,000 25,900,000 13,375,000 13,500,000
47 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
Continued
  Multifactor Mid Cap ETF Multifactor Small Cap ETF
  Year ended
4-30-25 		Year ended
4-30-24 		Year ended
4-30-25 		Year ended
4-30-24
Increase (decrease) in net assets        
From operations        
Net investment income $41,308,332 $42,385,612 $5,092,662 $4,041,172
Net realized gain 154,595,786 154,959,295 38,522,905 31,835,506
Change in net unrealized appreciation (depreciation) (24,159,202) 286,551,233 (42,749,091) 16,415,603
Increase in net assets resulting from operations 171,744,916 483,896,140 866,476 52,292,281
Distributions to shareholders        
From earnings (40,797,142) (40,836,166) (4,764,845) (3,805,202)
From fund share transactions        
Shares issued 511,431,257 683,923,383 277,706,355 187,434,058
Shares repurchased (484,031,609) (455,939,092) (203,353,880) (162,163,907)
Total from fund share transactions 27,399,648 227,984,291 74,352,475 25,270,151
Total increase 158,347,422 671,044,265 70,454,106 73,757,230
Net assets        
Beginning of year 3,631,892,547 2,960,848,282 413,594,412 339,837,182
End of year $3,790,239,969 $3,631,892,547 $484,048,518 $413,594,412
Share activity        
Shares outstanding        
Beginning of year 67,075,000 62,300,000 11,450,000 10,750,000
Shares issued 8,775,000 13,600,000 7,325,000 5,300,000
Shares repurchased (8,350,000) (8,825,000) (5,300,000) (4,600,000)
End of year 67,500,000 67,075,000 13,475,000 11,450,000
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 48
Table of Contents
Financial Highlights
MULTIFACTOR DEVELOPED INTERNATIONAL ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-22 4-30-21
Per share operating performance          
Net asset value, beginning of period $33.52 $31.40 $29.98 $33.43 $24.33
Net investment income1 0.96 0.93 0.92 0.97 0.70
Net realized and unrealized gain (loss) on investments 3.01 2.17 1.30 (3.34) 8.99
Total from investment operations 3.97 3.10 2.22 (2.37) 9.69
Less distributions          
From net investment income (1.14) (0.98) (0.80) (1.08) (0.59)
Net asset value, end of period $36.35 $33.52 $31.40 $29.98 $33.43
Total return (%)2 12.23 10.12 7.79 (7.45) 40.26
Ratios and supplemental data          
Net assets, end of period (in millions) $680 $704 $487 $483 $485
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.43 0.43 0.43 0.42 0.43
Expenses including reductions 0.39 0.39 0.39 0.39 0.39
Net investment income 2.81 2.95 3.26 2.92 2.43
Portfolio turnover (%)3 13 15 12 10 8
    
   
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
MULTIFACTOR EMERGING MARKETS ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-22 4-30-21
Per share operating performance          
Net asset value, beginning of period $26.19 $24.25 $26.33 $31.19 $21.61
Net investment income1 0.68 0.62 0.79 0.72 0.50
Net realized and unrealized gain (loss) on investments 0.74 2.05 (2.21) (4.79) 9.57
Total from investment operations 1.42 2.67 (1.42) (4.07) 10.07
Less distributions          
From net investment income (0.76) (0.73) (0.66) (0.79) (0.49)
Net asset value, end of period $26.85 $26.19 $24.25 $26.33 $31.19
Total return (%)2 5.50 11.19 (5.32) (13.33) 46.99
Ratios and supplemental data          
Net assets, end of period (in millions) $577 $678 $703 $661 $736
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.58 0.58 0.58 0.56 0.55
Expenses including reductions 0.49 0.49 0.49 0.49 0.49
Net investment income 2.53 2.51 3.28 2.43 1.89
Portfolio turnover (%)3 13 14 10 12 25
    
   
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
49 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-22 4-30-21
Per share operating performance          
Net asset value, beginning of period $61.79 $52.26 $52.21 $53.37 $36.16
Net investment income1 0.83 0.81 0.76 0.63 0.66
Net realized and unrealized gain (loss) on investments 4.85 9.54 0.012 (1.15) 17.30
Total from investment operations 5.68 10.35 0.77 (0.52) 17.96
Less distributions          
From net investment income (0.81) (0.82) (0.72) (0.64) (0.75)
Net asset value, end of period $66.66 $61.79 $52.26 $52.21 $53.37
Total return (%)3 9.16 19.95 1.57 (1.06) 50.22
Ratios and supplemental data          
Net assets, end of period (in millions) $892 $834 $719 $782 $706
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.32 0.32 0.32 0.32 0.31
Expenses including reductions 0.29 0.29 0.29 0.29 0.29
Net investment income 1.21 1.42 1.51 1.12 1.50
Portfolio turnover (%)4 4 6 5 4 7
    
   
1 Based on average daily shares outstanding.
2 The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
MULTIFACTOR MID CAP ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-22 4-30-21
Per share operating performance          
Net asset value, beginning of period $54.15 $47.53 $48.75 $51.54 $32.39
Net investment income1 0.61 0.64 0.60 0.44 0.39
Net realized and unrealized gain (loss) on investments 2.00 6.60 (1.28) (2.83) 19.23
Total from investment operations 2.61 7.24 (0.68) (2.39) 19.62
Less distributions          
From net investment income (0.61) (0.62) (0.54) (0.40) (0.47)
Net asset value, end of period $56.15 $54.15 $47.53 $48.75 $51.54
Total return (%)2 4.79 15.31 (1.37) (4.72) 61.03
Ratios and supplemental data          
Net assets, end of period (in millions) $3,790 $3,632 $2,961 $2,411 $2,163
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.42 0.42 0.42 0.42 0.42
Expenses including reductions 0.41 0.42 0.42 0.41 0.41
Net investment income 1.05 1.28 1.28 0.84 0.96
Portfolio turnover (%)3 12 13 14 10 20
    
   
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK MULTIFACTOR ETFS 50
Table of Contents
MULTIFACTOR SMALL CAP ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-22 4-30-21
Per share operating performance          
Net asset value, beginning of period $36.12 $31.61 $31.99 $35.30 $21.77
Net investment income1 0.41 0.37 0.35 0.31 0.36
Net realized and unrealized gain (loss) on investments (0.23) 4.50 (0.38) (3.23) 13.51
Total from investment operations 0.18 4.87 (0.03) (2.92) 13.87
Less distributions          
From net investment income (0.38) (0.36) (0.35) (0.39) (0.34)
Net asset value, end of period $35.92 $36.12 $31.61 $31.99 $35.30
Total return (%)2 0.43 15.43 (0.06) (8.39) 64.17
Ratios and supplemental data          
Net assets, end of period (in millions) $484 $414 $340 $377 $426
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.46 0.47 0.47 0.45 0.45
Expenses including reductions 0.42 0.42 0.42 0.42 0.42
Net investment income 1.04 1.10 1.12 0.90 1.31
Portfolio turnover (%)3 66 57 44 40 56
    
   
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
51 JOHN HANCOCK MULTIFACTOR ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Notes to financial statements
Note 1—Organization
John Hancock Exchange-Traded Fund Trust (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, five of which are presented in this report (the funds). 
The investment objective of each fund is to seek to provide investment results that closely correspond, before fees and expenses, to the performance of their respective Index as listed below:
Fund Index
Multifactor Developed International ETF John Hancock Dimensional Developed International Index
Multifactor Emerging Markets ETF John Hancock Dimensional Emerging Markets Index
Multifactor Large Cap ETF John Hancock Dimensional Large Cap Index
Multifactor Mid Cap ETF John Hancock Dimensional Mid Cap Index
Multifactor Small Cap ETF John Hancock Dimensional Small Cap Index
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The funds qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the funds:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the funds’ valuation designee.
In order to value the securities, the funds use the following valuation techniques: Equity securities, including exchange-traded and closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the funds in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor valued at London close.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor may use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
The funds use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
   | JOHN HANCOCK MULTIFACTOR ETFS 52
Table of Contents
The following is a summary of the values by input classification of the funds’ investments as of April 30, 2025, by major security category or type:
  Total
value at
4-30-25 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Multifactor Developed International ETF        
Investments in securities:        
Assets        
Common stocks        
Australia   $44,450,222   $44,450,222 — —
Austria   1,642,872   1,642,872 — —
Belgium   8,138,607   8,138,607 — —
Chile   407,208   407,208 — —
Denmark   15,058,310   15,058,310 — —
Finland   8,006,325   8,006,325 — —
France   82,912,206   82,912,206 — —
Germany   67,768,770   67,768,770 — —
Hong Kong   11,486,216   11,486,216 — —
Ireland   5,302,352   5,302,352 — —
Israel   3,981,640   3,981,640 — —
Italy   20,307,999   20,307,999 — —
Japan   150,144,610   150,144,610 — —
Luxembourg   2,114,897   2,114,897 — —
Macau   51,199   51,199 — —
Netherlands   26,848,345   26,848,345 — —
New Zealand   1,691,228   1,691,228 — —
Norway   3,082,571   3,082,571 — —
Portugal   927,417   927,417 — —
Singapore   12,300,485   12,300,485 — —
Spain   22,245,122   22,245,122 — —
Sweden   19,794,990   19,794,990 — —
Switzerland   64,061,784   64,061,784 — —
United Arab Emirates — — — —
United Kingdom   96,279,083   96,279,083 — —
United States   716,626   716,626 — —
Preferred securities   2,527,746   2,527,746 — —
Rights   189   189 — —
Short-term investments   17,474,898   17,474,898 — —
Total investments in securities   $689,723,917   $689,723,917 — —
Derivatives:        
Assets        
Futures   $8,668   $8,668 — —
Level 3 includes securities valued at $0. Refer to Funds’ investments.
 
Multifactor Emerging Markets ETF        
Investments in securities:        
Assets        
Common stocks        
Brazil   $18,337,567   $18,337,567 — —
Chile   2,439,963   2,439,963 — —
China   136,587,707   136,587,707 — —
Hong Kong   4,907,569   4,907,569 — —
India   139,160,454   139,018,806 —   $141,648
Indonesia   8,630,774   8,630,774 — —
Ireland   7,915,850   7,915,850 — —
Luxembourg   102,867   102,867 — —
Malaysia   11,419,367   11,419,367 — —
Mexico   13,900,283   13,900,283 — —
Netherlands   408,034   408,034 — —
53 JOHN HANCOCK MULTIFACTOR ETFS |   
Table of Contents
  Total
value at
4-30-25 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Multifactor Emerging Markets ETF (continued)        
Philippines   $4,693,809   $4,693,809 — —
Poland   7,998,426   7,998,426 — —
Russia — — — —
Saudi Arabia   22,513,922   22,513,922 — —
Singapore   3,240,822   3,240,822 — —
South Africa   20,526,106   20,526,106 — —
South Korea   61,055,025   61,055,025 — —
Taiwan   96,128,684   96,128,684 — —
Thailand   9,281,988   9,281,988 — —
Turkey   3,319,562   3,319,562 — —
United Kingdom   554,433   554,433 — —
United States   1,016,700   1,016,700 — —
Preferred securities   7,702,855   7,702,855 — —
Rights   8,574   8,574 — —
Short-term investments   2,455,303   2,455,303 — —
Total investments in securities   $584,306,644   $584,164,996 —   $141,648
Level 3 includes securities valued at $0. Refer to Funds’ investments.
 
Multifactor Large Cap ETF        
Investments in securities:        
Assets        
Common stocks        
Communication services   $65,029,092   $65,029,092 — —
Consumer discretionary   88,821,043   88,821,043 — —
Consumer staples   54,924,969   54,924,969 — —
Energy   32,489,321   32,489,321 — —
Financials   146,222,656   146,222,656 — —
Health care   96,172,878   96,154,720 —   $18,158
Industrials   107,903,961   107,903,961 — —
Information technology   205,292,494   205,292,494 — —
Materials   29,824,329   29,824,329 — —
Real estate   25,738,800   25,738,800 — —
Utilities   38,089,513   38,089,513 — —
Short-term investments   846,668   846,668 — —
Total investments in securities   $891,355,724   $891,337,566 —   $18,158
Level 3 includes securities valued at $0. Refer to Funds’ investments.
 
Multifactor Mid Cap ETF        
Investments in securities:        
Assets        
Common stocks        
Communication services   $114,613,586   $114,613,586 — —
Consumer discretionary   414,650,569   414,650,569 — —
Consumer staples   177,752,399   177,752,399 — —
Energy   150,028,097   150,028,097 — —
Financials   623,440,319   623,440,319 — —
Health care   397,642,784   397,358,442 —   $284,342
Industrials   749,038,942   749,038,942 — —
Information technology   495,082,854   495,082,854 — —
Materials   213,623,662   213,623,662 — —
Real estate   223,185,221   223,185,221 — —
Utilities   226,319,926   226,319,926 — —
Short-term investments   8,287,838   8,287,838 — —
Total investments in securities   $3,793,666,197   $3,793,381,855 —   $284,342
   | JOHN HANCOCK MULTIFACTOR ETFS 54
Table of Contents
  Total
value at
4-30-25 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Multifactor Mid Cap ETF (continued)        
Level 3 includes securities valued at $0. Refer to Funds’ investments.
 
Multifactor Small Cap ETF        
Investments in securities:        
Assets        
Common stocks   $480,206,536   $480,206,536 — —
Short-term investments   1,738,167   1,738,167 — —
Total investments in securities   $481,944,703   $481,944,703 — —
Derivatives:        
Assets        
Futures   $22,124   $22,124 — —
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Real estate investment trusts. The funds may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the funds will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Securities lending. The funds may lend their securities to earn additional income. The funds receive collateral from the borrower in an amount not less than the market value of the loaned securities. The funds may invest their cash collateral in JHCT, an affiliate of the funds, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a government money market fund and invests in U.S. Government securities and/or repurchase agreements. Prior to September 27, 2024, JHCT was a prime money market fund investing in short-term money market investments. Each fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.
The funds have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the funds for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the funds could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the funds will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The funds receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the funds is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.
Obligations to repay collateral received by the funds are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the funds and the corresponding cash collateral received at April 30, 2025.
In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the funds, and accordingly, is not reflected in the funds’ net assets.
Fund Market value of securities on loan Cash collateral received Non-cash collateral
Multifactor Developed International ETF   $32,390,453   $16,557,083   $17,602,323
Multifactor Emerging Markets ETF   8,073,473   1,690,292   6,845,782
Multifactor Large Cap ETF   2,606,902   36,069   2,625,614
Multifactor Mid Cap ETF   44,410,595   3,816,098   41,609,422
Multifactor Small Cap ETF   9,938,615   1,212,362   8,984,400
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
55 JOHN HANCOCK MULTIFACTOR ETFS |   
Table of Contents
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
There may be unexpected restrictions on investments or on exposures to investments in companies located in certain foreign countries, such as China. For example, a government may restrict investment in companies or industries considered important to national interests, or intervene in the financial markets, such as by imposing trading restrictions, or banning or curtailing short selling. As a result of forced sales of a security, or inability to participate in an investment the manager otherwise believes is attractive, a fund may incur losses.
Trading in certain Chinese securities through Hong Kong Stock Connect or Bond Connect, mutual market access programs that enable foreign investment in the People’s Republic of China, is subject to certain restrictions and risks. Securities offered through these programs may lose purchase eligibility and any changes in laws, regulations and policies impacting these programs may affect security prices, which could adversely affect the funds’ performance.
Foreign taxes. The funds may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the funds’ understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the funds as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The funds may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the funds’ custodian agreement, the custodian may loan money to the funds to make properly authorized payments. The funds are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The funds and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 14, 2025 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.
A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating fund based on an asset-based allocation and is reflected in Other expenses on the Statements of operations.
Commitment fees for the year ended April 30, 2025 were as follows:
Fund Commitment fee
Multifactor Developed International ETF   $4,142
Multifactor Emerging Markets ETF   3,758
Multifactor Large Cap ETF   5,209
Multifactor Mid Cap ETF   19,528
Multifactor Small Cap ETF   3,037
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and each fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Federal income taxes. Each fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of April 30, 2025, certain funds have short-term and long-term capital loss carryforwards available to offset future net realized capital gains. These carryforwards do not expire. The following table details the capital loss carryforwards available as of April 30, 2025:
  No Expiration Date
Fund Short Term Long Term
Multifactor Developed International ETF   $27,133,868   $62,936,688
Multifactor Emerging Markets ETF   27,814,283   64,733,157
Multifactor Large Cap ETF   21,675,690   45,766,547
Multifactor Mid Cap ETF   141,249,010   127,699,666
Multifactor Small Cap ETF   102,756,418   39,511,323
Due to certain Internal Revenue Code rules, utilization of the capital loss carryforwards may be limited in future years.
As of April 30, 2025, the funds had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The funds’ federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
For federal income tax purposes, the costs of investments owned on April 30, 2025, including short-term investments, were as follows:
   | JOHN HANCOCK MULTIFACTOR ETFS 56
Table of Contents
Fund Aggregate
cost 		Unrealized
appreciation 		Unrealized
(depreciation) 		Net unrealized
appreciation/
(depreciation)
Multifactor Developed International ETF   $596,600,258   $117,331,146   $(24,198,819)   $93,132,327
Multifactor Emerging Markets ETF   486,965,141   149,274,762   (51,933,259)   97,341,503
Multifactor Large Cap ETF   711,851,927   228,616,543   (49,112,746)   179,503,797
Multifactor Mid Cap ETF   3,301,407,006   735,376,991   (243,117,800)   492,259,191
Multifactor Small Cap ETF   489,707,597   30,550,764   (38,291,534)   (7,740,770)
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The funds generally declare and pay dividends at least semiannually from net investment income, if any. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the year ended April 30, 2025 was as follows:
Fund Ordinary
Income
Multifactor Developed International ETF   $23,913,029
Multifactor Emerging Markets ETF   18,742,260
Multifactor Large Cap ETF   11,075,181
Multifactor Mid Cap ETF   40,797,142
Multifactor Small Cap ETF   4,764,845
The tax character of distributions for the year ended April 30, 2024 was as follows:
Fund Ordinary
Income
Multifactor Developed International ETF   $16,293,074
Multifactor Emerging Markets ETF   19,525,171
Multifactor Large Cap ETF   11,097,084
Multifactor Mid Cap ETF   40,836,166
Multifactor Small Cap ETF   3,805,202
As of April 30, 2025, the components of distributable earnings on a tax basis were as follows:
Fund Undistributed
Ordinary Income
Multifactor Developed International ETF   $8,040,416
Multifactor Emerging Markets ETF   3,375,752
Multifactor Large Cap ETF   3,177,319
Multifactor Mid Cap ETF   10,763,343
Multifactor Small Cap ETF   1,167,572
Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the funds’ financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to investments in passive foreign investment companies, wash sale loss deferrals and redemptions in-kind.
Note 3—Derivative instruments
The funds may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the funds are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the funds and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts
57 JOHN HANCOCK MULTIFACTOR ETFS |   
Table of Contents
recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the funds to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the funds to unlimited risk of loss.
Upon entering into a futures contract, the funds are required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the funds, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the funds, if any, are identified in the Funds’ investments. Subsequent payments, referred to as variation margin, are made or received by the funds periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the funds. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, the funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
The following table details how the funds used futures contracts during the year ended April 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
Fund Reason USD Notional range
Multifactor Developed International ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. Up to $830,000
Multifactor Emerging Markets ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2025, there were no open futures contracts. Up to $2.7 million
Multifactor Large Cap ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2025, there were no open futures contracts. Up to $3.7 million, as measured during the period
Multifactor Mid Cap ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2025, there were no open futures contracts. Up to $25.7 million, as measured during the period
Multifactor Small Cap ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. Up to $3.1 million
Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the funds at April 30, 2025 by risk category:
Fund Risk Statements of
assets and
liabilities location 		Financial
instruments
location 		Assets
derivatives
fair value 		Liabilities
derivatives
fair value
Multifactor Developed International ETF Equity Receivable/payable for futures variation margin1 Futures   $8,668 —
Multifactor Small Cap ETF Equity Receivable/payable for futures variation margin1 Futures   $22,124 —
    
1 Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of Funds’ investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.
Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended April 30, 2025:
    Statements of operations location - Net realized gain (loss) on:
Fund Risk Futures contracts
Multifactor Developed International ETF Equity   $68,587
Multifactor Emerging Markets ETF Equity   $(36,179)
Multifactor Large Cap ETF Equity   $(89,197)
Multifactor Mid Cap ETF Equity   $(771,382)
Multifactor Small Cap ETF Equity   $(31,644)
    
    Statements of operations location - Change in net unrealized appreciation (depreciation) of:
Fund Risk Futures contracts
Multifactor Developed International ETF Equity   $8,668
Multifactor Small Cap ETF Equity   $22,124
   | JOHN HANCOCK MULTIFACTOR ETFS 58
Table of Contents
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the funds. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the funds. The Advisor is an indirect, principally owned subsidiary of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation (MFC).
Management fee. The funds have an investment management agreement with the Advisor under which each fund pays a monthly management fee to the Advisor equivalent on an annual basis as detailed below. The Advisor has a subadvisory agreement with Dimensional Fund Advisors LP. The funds are not responsible for payment of the subadvisory fees.
The management fee structure is as follows:
Fund Average daily net assets
Multifactor Developed International ETF 0.35%
Multifactor Emerging Markets ETF 0.44%
Multifactor Large Cap ETF 0.26%
Fund Average daily net assets
Multifactor Mid Cap ETF 0.37%
Multifactor Small Cap ETF 0.39%
 
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the funds (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of the funds. During the year ended April 30, 2025, this waiver amounted to 0.01% of the funds’ average daily net assets. This agreement expires on July 31, 2026, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to reduce its management fee or, if necessary, make a payment to each fund, in an amount equal to the amount by which expenses of the fund exceed the following:
Fund Expense
limitation as a
percentage of
average net
assets
Multifactor Developed International ETF 0.39%
Multifactor Emerging Markets ETF 0.49%
Multifactor Large Cap ETF 0.29%
Fund Expense
limitation as a
percentage of
average net
assets
Multifactor Mid Cap ETF 0.42%
Multifactor Small Cap ETF 0.42%
 
Expenses means all the expenses of the funds, excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the funds’ business, borrowing costs, prime brokerage fees, acquired fund fees and expenses paid indirectly, and short dividend expense. The funds’ expense limitation agreement expires on August 31, 2025, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The expense reductions described above amount to the following for the year ended April 30, 2025.
Fund Expense reimbursement
Multifactor Developed International ETF   $244,048
Multifactor Emerging Markets ETF   555,625
Multifactor Large Cap ETF   245,759
Fund Expense reimbursement
Multifactor Mid Cap ETF   $331,064
Multifactor Small Cap ETF   177,228
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended April 30, 2025, were equivalent to a net annual effective rate of the funds’ average daily net assets:
Fund Net Annual Effective Rate
Multifactor Developed International ETF 0.31%
Multifactor Emerging Markets ETF 0.35%
Multifactor Large Cap ETF 0.23%
Fund Net Annual Effective Rate
Multifactor Mid Cap ETF 0.36%
Multifactor Small Cap ETF 0.35%
 
59 JOHN HANCOCK MULTIFACTOR ETFS |   
Table of Contents
Accounting and legal services. Pursuant to a service agreement, the funds reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the funds, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These accounting and legal services fees incurred, for the year ended April 30, 2025, amounted to an annual rate of 0.02% of the funds’ average daily net assets.
Trustee expenses. The funds compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on their net assets relative to other funds within the John Hancock group of funds complex.
Note 6—Capital share transactions
Each fund will issue and redeem shares only in a large number of specified shares, each called a “creation unit,” or multiples thereof. Multifactor Large Cap ETF, Multifactor Mid Cap ETF, and Multifactor Small Cap ETF issue and redeem shares at NAV in creation units of 25,000 shares. Multifactor Developed International ETF and Multifactor Emerging Markets ETF issue and redeem shares at NAV in creation units of 100,000 shares.
Only authorized participants may engage in creation or redemption transactions directly with the funds. Such transactions generally take place when an authorized participant deposits into a fund a designated portfolio of securities (including any portion of such securities for which cash may be substituted) and a specified amount of cash approximating the holdings of the fund in exchange for a specified number of creation units. Similarly, shares can be redeemed only in creation units, generally for a designated portfolio of securities (including any portion of such securities for which cash may be substituted) held by a fund and a specified amount of cash. For purposes of US GAAP, in-kind redemption transactions are treated as a sale of securities and any resulting gains and losses are recognized based on the market value of the securities on the date of the transfer. Authorized participants pay a transaction fee to the custodian when purchasing and redeeming creation units of the funds. The transaction fee is used to defray the costs associated with the issuance and redemption of creation units. Individual shares of the funds may only be purchased and sold in secondary market transactions through brokers. Secondary market transactions may be subject to brokerage commissions. Shares of the funds are listed and traded on the NYSE Arca, Inc., trade at market prices rather than NAV, and may trade at a price greater than or less than NAV.
Authorized participants transacting in creation or redemption of units for cash may also pay an additional variable charge to compensate the relevant fund for the costs associated with purchasing or selling the applicable securities. For the year ended April 30, 2025, such variable charges were approximately $757 and $315,993 for Multifactor Developed International ETF and Multifactor Emerging Markets ETF, respectively. These charges are included in shares issued or repurchased on the Statements of Changes in Net Assets.
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, are aggregated below for the year ended April 30, 2025. In addition, purchases and sales of in-kind transactions are aggregated below for the year ended April 30, 2025:
  Purchases Sales and maturities
Fund In-kind transactions Non in-kind transactions In-kind transactions Non in-kind transactions
Multifactor Developed International ETF   $98,519,088   $89,741,592   $176,759,606   $93,057,103
Multifactor Emerging Markets ETF   308,422   85,000,328   52,295,940   155,667,475
Multifactor Large Cap ETF   87,086,873   35,154,818   96,164,726   34,716,923
Multifactor Mid Cap ETF   510,761,038   479,308,337   485,234,386   475,883,920
Multifactor Small Cap ETF   276,085,616   323,202,472   202,767,654   324,336,297
Note 8—Industry or sector risk
The funds may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a fund’s assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund’s NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors.
Note 9—Emerging-market risk
Foreign investing especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. Funds that invest a significant portion of assets in the securities of issuers based in countries with emerging market economies are subject to greater levels of foreign investment risk than funds investing primarily in more-developed foreign markets, since emerging-market securities may present other risks greater than, or in addition to, the risks of investing in developed foreign countries.
Note 10—Investment by affiliated funds
Certain investors in the funds are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the funds for the purpose of exercising management or control; however, this investment may represent a significant portion of the funds’ net assets. At April 30, 2025, funds within the John Hancock group of funds complex had the following affiliate ownership as a percentage of the funds’ net assets (funds with an affiliate ownership of 5% or more are disclosed separately):
Fund Affiliated Fund Affiliated Concentration
Multifactor Developed International ETF John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 32.80%
   | JOHN HANCOCK MULTIFACTOR ETFS 60
Table of Contents
Fund Affiliated Fund Affiliated Concentration
  John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio 12.03%
  Other affiliated funds 1.32%
  Total 46.15%
Multifactor Emerging Markets ETF John Hancock Funds II Multimanager Lifestyle Growth Portfolio 21.17%
  John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 16.85%
  John Hancock Funds II Multimanager Lifestyle Balanced Portfolio 12.77%
  John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio 10.43%
  John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio 8.29%
  Other affiliated funds 16.39%
  Total 85.90%
Multifactor Mid Cap ETF Total other affiliated funds 4.86%
Multifactor Small Cap ETF John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 20.90%
  John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio 11.20%
  Other affiliated funds 2.49%
  Total 34.59%
Note 11—Investment in affiliated underlying funds
The funds may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the funds’ fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the funds, if any, is as follows:
              Dividends and distributions
Affiliate Ending
share
amount 		Beginning
value 		Cost of
purchases 		Proceeds
from shares
sold 		Realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Income
distributions
received 		Capital gain
distributions
received 		Ending
value
Multifactor Developed International ETF
John Hancock Collateral Trust* 1,655,862   $9,414,272   $116,225,125   $(109,080,017)   $2,464   $2,070   $112,137 —   $16,563,914
Multifactor Emerging Markets ETF
John Hancock Collateral Trust* 169,022   $122,282   $19,444,509   $(17,876,001)   $(79)   $45   $87,980 —   $1,690,756
Multifactor Large Cap ETF
John Hancock Collateral Trust* 3,624   $129,951   $14,512,372   $(14,606,134)   $50   $17   $27,300 —   $36,256
Multifactor Mid Cap ETF
John Hancock Collateral Trust* 381,268   $1,852,697   $161,501,107   $(159,541,853)   $1,558   $388   $339,258 —   $3,813,897
Multifactor Small Cap ETF
John Hancock Collateral Trust* 121,205   $1,723,125   $86,628,841   $(87,139,605)   $(146)   $223   $22,979 —   $1,212,438
    
* Refer to the Securities lending note within Note 2 for details regarding this investment.
Note 12—New accounting pronouncement
In this reporting period, the funds adopted Financial Accounting Standards Board Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (ASU 2023-07). Adoption of the new standard impacted financial statement disclosures only and did not affect each fund’s financial position or the results of its operations. The management committee of the Advisor acts as the funds’ chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation.  Each fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund’s long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a
61 JOHN HANCOCK MULTIFACTOR ETFS |   
Table of Contents
defined investment strategy which is executed by the portfolio management team of the fund’s subadvisor. Segment assets are reflected in the Statements of assets and liabilities as “Total assets”, which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes “Increase (decrease) in net assets from operations”, Statements of changes in net assets, which includes “Increase (decrease) in net assets from fund share transactions”, and Financial highlights, which includes total return and income and expense ratios.
   | JOHN HANCOCK MULTIFACTOR ETFS 62
Table of Contents
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of John Hancock Exchange-Traded Fund Trust and Shareholders of Multifactor Developed International ETF, Multifactor Emerging Markets ETF, Multifactor Large Cap ETF, Multifactor Mid Cap ETF and Multifactor Small Cap ETF
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the funds’ investments, of Multifactor Developed International ETF, Multifactor Emerging Markets ETF, Multifactor Large Cap ETF, Multifactor Mid Cap ETF, and Multifactor Small Cap ETF (five of the funds constituting John Hancock Exchange-Traded Fund Trust, hereafter collectively referred to as the "Funds") as of April 30, 2025, the related statements of operations for the year ended April 30, 2025, the statements of changes in net assets for each of the two years in the period ended April 30, 2025, including the related notes, and the financial highlights for each of the five years in the period ended April 30, 2025 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of April 30, 2025, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended April 30, 2025 and each of the financial highlights for each of the five years in the period ended April 30, 2025, in conformity with accounting principles generally accepted in the United States of America. 
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of April 30, 2025 by correspondence with the custodian, transfer agents and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
June 6, 2025
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
63 JOHN HANCOCK MULTIFACTOR ETFS |   
Table of Contents
Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the funds, if any, paid during its taxable year ended April 30, 2025.
Each fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
Each fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Each fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
Each fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Fund Foreign sourced income Foreign tax credit
Multifactor Developed International ETF $24,312,934 $1,632,581
Multifactor Emerging Markets ETF 22,343,105 5,054,651
Eligible shareholders will be mailed a 2025 Form 1099-DIV in early 2026. This will reflect the tax character of all distributions paid in calendar year 2025.
Please consult a tax advisor regarding the tax consequences of your investment in a fund.
   | JOHN HANCOCK MULTIFACTOR ETFS 64
Table of Contents
John Hancock Investment Management LLC, 200 Berkeley Street, Boston, MA 02116, 800-225-6020, jhinvestments.com/etf
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Multifactor ETFs. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
JHAN-20180615-0136 ETFA 4/2025
6/2025


Annual Financial Statements & Other N-CSR Items
John Hancock
Active Fixed Income ETFs
April 30, 2025
John Hancock
Active Fixed Income ETFs
Table of contents
2 Funds’ investments
51 Financial statements
58 Financial highlights
62 Notes to financial statements
72 Report of independent registered public accounting firm
74 Tax information
75 Evaluation of advisory and subadvisory agreements by the Board of Trustees
1 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
Funds’ investments
CORE BOND ETF
As of 4-30-25
  Rate (%) Maturity date   Par value^ Value
U.S. Government and Agency obligations 59.1%       $5,928,791
(Cost $5,902,117)          
U.S. Government 20.2%       2,027,442
U.S. Treasury          
Bond 4.500 11-15-54   188,000 181,978
Bond 4.625 11-15-44   493,000 488,073
Bond 4.625 02-15-55   38,000 37,602
Bond 4.750 02-15-45   69,000 69,474
Note 3.875 03-31-27   50,000 50,232
Note 3.875 04-30-30   260,000 261,848
Note 4.000 12-15-27   75,000 75,800
Note 4.000 04-30-32   402,000 403,759
Note 4.250 11-30-26   216,000 217,789
Note 4.250 01-15-28   41,000 41,687
Note 4.625 02-15-35   192,000 199,200
U.S. Government Agency 38.9%       3,901,349
Federal Home Loan Mortgage Corp.          
15 Yr Pass Thru 2.000 11-01-35   70,140 64,271
30 Yr Pass Thru 3.000 09-01-51   86,820 76,154
30 Yr Pass Thru 3.000 05-01-52   85,661 75,352
30 Yr Pass Thru 3.500 01-01-50   82,331 75,227
30 Yr Pass Thru 3.500 01-01-52   82,891 75,401
30 Yr Pass Thru 4.000 06-01-52   67,172 62,689
30 Yr Pass Thru 4.000 06-01-52   66,998 62,695
30 Yr Pass Thru 4.000 07-01-52   68,065 63,991
30 Yr Pass Thru 4.000 07-01-52   67,910 63,378
30 Yr Pass Thru 4.000 12-01-52   67,932 63,866
30 Yr Pass Thru 4.000 01-01-54   68,196 63,618
30 Yr Pass Thru 4.500 02-01-53   67,466 65,098
30 Yr Pass Thru 4.500 02-01-53   69,849 66,984
30 Yr Pass Thru 4.500 02-01-54   67,486 64,922
30 Yr Pass Thru 4.500 02-01-54   12,926 12,440
30 Yr Pass Thru 5.000 03-01-53   72,888 71,973
30 Yr Pass Thru 5.000 04-01-53   71,378 70,727
30 Yr Pass Thru 5.000 04-01-53   73,852 72,832
30 Yr Pass Thru 5.000 08-01-53   71,928 70,665
30 Yr Pass Thru 5.000 10-01-54   72,196 71,222
30 Yr Pass Thru 5.000 11-01-54   73,676 72,446
30 Yr Pass Thru 5.000 12-01-54   15,623 15,397
30 Yr Pass Thru 5.500 01-01-55   29,736 29,906
30 Yr Pass Thru 5.500 02-01-55   17,887 17,987
Federal National Mortgage Association          
15 Yr Pass Thru 2.000 07-01-36   70,478 64,382
15 Yr Pass Thru 2.500 08-01-35   68,252 63,966
15 Yr Pass Thru 2.500 03-01-36   68,598 63,971
30 Yr Pass Thru 2.000 06-01-50   89,626 71,739
30 Yr Pass Thru 2.000 07-01-50   89,686 71,788
30 Yr Pass Thru 2.500 01-01-50   97,564 82,106
30 Yr Pass Thru 2.500 09-01-50   98,055 81,692
30 Yr Pass Thru 2.500 01-01-52   96,906 80,947
30 Yr Pass Thru 3.000 01-01-50   86,064 75,505
30 Yr Pass Thru 3.000 03-01-50   85,741 75,222
30 Yr Pass Thru 3.000 11-01-51   85,911 75,331
30 Yr Pass Thru 3.000 12-01-51   16,206 14,207
30 Yr Pass Thru 3.000 05-01-52   87,337 75,844
30 Yr Pass Thru 3.500 07-01-51   83,846 76,480
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 2
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)        
30 Yr Pass Thru 3.500 01-01-52   84,400 $76,194
30 Yr Pass Thru 3.500 04-01-52   81,872 74,423
30 Yr Pass Thru 3.500 06-01-52   85,330 77,274
30 Yr Pass Thru 4.000 05-01-49   66,892 62,929
30 Yr Pass Thru 4.000 05-01-52   68,519 63,968
30 Yr Pass Thru 4.000 06-01-52   67,741 63,537
30 Yr Pass Thru 4.500 07-01-52   68,396 66,001
30 Yr Pass Thru 4.500 07-01-52   68,761 65,983
30 Yr Pass Thru 4.500 08-01-52   69,241 66,406
30 Yr Pass Thru 4.500 09-01-52   67,266 64,570
30 Yr Pass Thru 4.500 10-01-52   68,204 65,810
30 Yr Pass Thru 4.500 06-01-53   68,409 65,688
30 Yr Pass Thru 4.500 01-01-54   68,142 65,708
30 Yr Pass Thru 4.500 04-01-54   68,994 66,373
30 Yr Pass Thru 5.000 08-01-52   71,764 71,177
30 Yr Pass Thru 5.000 09-01-52   12,983 12,759
30 Yr Pass Thru 5.000 06-01-53   71,232 70,003
30 Yr Pass Thru 5.000 09-01-53   70,908 70,040
30 Yr Pass Thru 5.000 11-01-53   20,418 20,014
30 Yr Pass Thru 5.000 11-01-54   23,735 23,361
30 Yr Pass Thru 5.500 07-01-53   78,003 78,681
30 Yr Pass Thru 5.500 09-01-53   79,086 79,378
30 Yr Pass Thru 5.500 09-01-53   78,393 78,830
30 Yr Pass Thru 5.500 11-01-54   29,573 29,821
Corporate bonds 27.9%     $2,793,467
(Cost $2,819,552)          
Communication services 1.5%     145,892
Diversified telecommunication services 0.1%      
AT&T, Inc. 4.500 05-15-35   6,000 5,661
Entertainment 0.2%      
WarnerMedia Holdings, Inc. 4.279 03-15-32   19,000 16,269
Media 0.5%      
Charter Communications Operating LLC 6.384 10-23-35   49,000 49,600
Wireless telecommunication services 0.7%      
T-Mobile USA, Inc. 3.875 04-15-30   26,000 25,088
T-Mobile USA, Inc. 5.200 01-15-33   49,000 49,274
Consumer discretionary 1.2%     121,847
Automobiles 1.2%      
Ford Motor Company 3.250 02-12-32   89,000 72,724
General Motors Financial Company, Inc. 5.600 06-18-31   49,000 49,123
Consumer staples 0.6%     57,057
Food products 0.6%      
JBS USA LUX Sarl (A) 5.950 04-20-35   2,000 2,058
Mars, Inc. (A) 5.000 03-01-32   6,000 6,048
Pilgrim’s Pride Corp. 6.250 07-01-33   47,000 48,951
Energy 3.6%     358,982
Oil, gas and consumable fuels 3.6%      
Cheniere Energy Partners LP 5.950 06-30-33   47,000 47,977
Columbia Pipelines Operating Company LLC (A) 6.036 11-15-33   24,000 24,799
Continental Resources, Inc. 4.900 06-01-44   60,000 46,337
DT Midstream, Inc. (A) 5.800 12-15-34   25,000 24,766
Energy Transfer LP 5.250 07-01-29   24,000 24,322
Energy Transfer LP 5.400 10-01-47   27,000 23,246
Occidental Petroleum Corp. 5.375 01-01-32   25,000 23,782
3 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Energy (continued)      
Oil, gas and consumable fuels (continued)      
Occidental Petroleum Corp. 6.050 10-01-54   25,000 $21,567
ONEOK, Inc. 6.625 09-01-53   23,000 22,896
Ovintiv, Inc. 7.200 11-01-31   23,000 24,271
Sabine Pass Liquefaction LLC 4.500 05-15-30   26,000 25,642
Targa Resources Corp. 6.150 03-01-29   24,000 25,019
Whistler Pipeline LLC (A) 5.700 09-30-31   24,000 24,358
Financials 10.2%     1,027,897
Banks 6.3%      
Bank of America Corp. (2.687% to 4-22-31, then Overnight SOFR + 1.320%) 2.687 04-22-32   114,000 100,830
Bank of America Corp. (3.846% to 3-8-32, then 5 Year CMT + 2.000%) 3.846 03-08-37   40,000 35,665
Bank of America Corp. (5.425% to 8-15-34, then Overnight SOFR + 1.913%) 5.425 08-15-35   16,000 15,660
Bank of America Corp. (6.625% to 5-1-30, then 5 Year CMT + 2.684%) (B) 6.625 05-01-30   15,000 15,007
Citizens Financial Group, Inc. (5.253% to 3-5-30, then Overnight SOFR + 1.259%) 5.253 03-05-31   7,000 7,010
Citizens Financial Group, Inc. (5.718% to 7-23-31, then Overnight SOFR + 1.910%) 5.718 07-23-32   49,000 49,824
Comerica, Inc. (5.982% to 1-30-29, then Overnight SOFR + 2.155%) 5.982 01-30-30   25,000 25,307
First Citizens BancShares, Inc. (5.231% to 3-12-30, then Overnight SOFR + 1.410%) 5.231 03-12-31   10,000 9,973
First Horizon Corp. (5.514% to 3-7-30, then Overnight SOFR + 1.766%) 5.514 03-07-31   6,000 6,034
Huntington Bancshares, Inc. (6.141% to 11-18-34, then 5 Year CMT + 1.700%) 6.141 11-18-39   24,000 23,732
JPMorgan Chase & Co. (2.956% to 5-13-30, then 3 month CME Term SOFR + 2.515%) 2.956 05-13-31   55,000 50,269
JPMorgan Chase & Co. (5.581% to 4-22-29, then Overnight SOFR + 1.160%) 5.581 04-22-30   72,000 74,610
KeyCorp (5.121% to 4-4-30, then SOFR Compounded Index + 1.227%) (C) 5.121 04-04-31   10,000 9,985
M&T Bank Corp. (5.385% to 1-16-35, then Overnight SOFR + 1.610%) 5.385 01-16-36   25,000 24,334
Regions Financial Corp. (5.502% to 9-6-34, then Overnight SOFR + 2.060%) 5.502 09-06-35   25,000 24,481
The PNC Financial Services Group, Inc. (5.575% to 1-29-35, then Overnight SOFR + 1.394%) 5.575 01-29-36   7,000 7,085
Truist Financial Corp. (7.161% to 10-30-28, then Overnight SOFR + 2.446%) 7.161 10-30-29   46,000 49,662
U.S. Bancorp (5.384% to 1-23-29, then Overnight SOFR + 1.560%) 5.384 01-23-30   48,000 49,152
Wells Fargo & Company (5.198% to 1-23-29, then Overnight SOFR + 1.500%) 5.198 01-23-30   49,000 49,982
Wells Fargo & Company (5.244% to 1-24-30, then Overnight SOFR + 1.110%) 5.244 01-24-31   6,000 6,124
Capital markets 2.1%      
Ares Capital Corp. 5.875 03-01-29   24,000 24,163
Ares Strategic Income Fund (A) 6.200 03-21-32   7,000 6,914
Ares Strategic Income Fund (A) 6.350 08-15-29   24,000 24,458
Blackstone Private Credit Fund 6.000 01-29-32   25,000 24,792
HPS Corporate Lending Fund 5.950 04-14-32   4,000 3,905
Lazard Group LLC 6.000 03-15-31   24,000 24,714
Morgan Stanley (2.484% to 9-16-31, then Overnight SOFR + 1.360%) 2.484 09-16-36   61,000 50,888
Morgan Stanley (5.173% to 1-16-29, then Overnight SOFR + 1.450%) 5.173 01-16-30   49,000 49,905
Sixth Street Lending Partners (A) 6.125 07-15-30   4,000 4,015
Consumer finance 0.3%      
Ally Financial, Inc. (6.184% to 7-26-34, then Overnight SOFR + 2.290%) 6.184 07-26-35   24,000 23,665
Financial services 0.7%      
Apollo Debt Solutions BDC 6.900 04-13-29   24,000 24,676
Enact Holdings, Inc. 6.250 05-28-29   24,000 24,570
NMI Holdings, Inc. 6.000 08-15-29   24,000 24,275
Insurance 0.8%      
Athene Holding, Ltd. 3.500 01-15-31   27,000 25,020
Athene Holding, Ltd. (6.625% to 10-15-34, then 5 Year CMT + 2.607%) 6.625 10-15-54   4,000 3,843
CNO Global Funding (A) 4.950 09-09-29   25,000 25,037
F&G Annuities & Life, Inc. 6.500 06-04-29   24,000 24,455
Reinsurance Group of America, Inc. (6.650% to 9-15-35, then 5 Year CMT + 2.392%) 6.650 09-15-55   4,000 3,876
Health care 2.5%     248,685
Biotechnology 1.0%      
AbbVie, Inc. 5.050 03-15-34   29,000 29,244
Amgen, Inc. 5.250 03-02-30   48,000 49,366
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 4
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Health care (continued)      
Biotechnology (continued)      
Amgen, Inc. 5.250 03-02-33   24,000 $24,253
Health care equipment and supplies 0.5%      
Solventum Corp. 5.450 03-13-31   49,000 50,032
Health care providers and services 0.5%      
Centene Corp. 4.625 12-15-29   26,000 25,064
HCA, Inc. 5.450 04-01-31   24,000 24,459
Pharmaceuticals 0.5%      
Viatris, Inc. 2.700 06-22-30   28,000 24,240
Viatris, Inc. 4.000 06-22-50   35,000 22,027
Industrials 2.4%     243,837
Aerospace and defense 0.3%      
Huntington Ingalls Industries, Inc. 4.200 05-01-30   26,000 25,092
The Boeing Company 6.528 05-01-34   6,000 6,445
Passenger airlines 2.1%      
American Airlines 2021-1 Class A Pass Through Trust 2.875 07-11-34   136,819 118,389
United Airlines 2023-1 Class A Pass Through Trust 5.800 01-15-36   46,810 46,598
United Airlines 2024-1 Class AA Pass Through Trust 5.450 02-15-37   47,582 47,313
Information technology 1.6%     162,966
Communications equipment 0.3%      
Motorola Solutions, Inc. 2.750 05-24-31   29,000 25,758
Electronic equipment, instruments and components 0.2%      
TD SYNNEX Corp. 2.650 08-09-31   29,000 24,474
Semiconductors and semiconductor equipment 0.8%      
Broadcom, Inc. (A) 3.419 04-15-33   35,000 31,213
Micron Technology, Inc. 2.703 04-15-32   29,000 24,559
Qorvo, Inc. (A) 3.375 04-01-31   29,000 25,353
Software 0.1%      
Oracle Corp. 5.250 02-03-32   7,000 7,097
Technology hardware, storage and peripherals 0.2%      
CDW LLC 5.550 08-22-34   25,000 24,512
Materials 0.5%     48,972
Metals and mining 0.5%      
Freeport-McMoRan, Inc. 5.400 11-14-34   25,000 24,933
Freeport-McMoRan, Inc. 5.450 03-15-43   26,000 24,039
Real estate 0.9%     88,336
Industrial REITs 0.2%      
Prologis Targeted US Logistics Fund LP (A) 5.250 04-01-29   24,000 24,661
Real estate management and development 0.3%      
CoStar Group, Inc. (A) 2.800 07-15-30   28,000 24,813
Specialized REITs 0.4%      
American Tower Corp. 5.550 07-15-33   7,000 7,163
American Tower Corp. 5.650 03-15-33   7,000 7,232
VICI Properties LP 5.125 05-15-32   25,000 24,467
Utilities 2.9%     288,996
Electric utilities 1.7%      
Constellation Energy Generation LLC 6.500 10-01-53   23,000 23,798
Exelon Corp. 5.125 03-15-31   6,000 6,108
Exelon Corp. (6.500% to 3-15-35, then 5 Year CMT + 1.975%) 6.500 03-15-55   2,000 1,988
NextEra Energy Capital Holdings, Inc. (6.375% to 8-15-30, then 5 Year CMT + 2.053%) 6.375 08-15-55   5,000 5,011
NextEra Energy Capital Holdings, Inc. (6.500% to 8-15-35, then 5 Year CMT + 1.979%) 6.500 08-15-55   25,000 25,139
5 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Utilities (continued)      
Electric utilities (continued)      
NRG Energy, Inc. (A) 7.000 03-15-33   23,000 $24,781
Pacific Gas & Electric Company 4.950 07-01-50   27,000 21,749
Pacific Gas & Electric Company 5.800 05-15-34   24,000 23,956
The Southern Company 5.200 06-15-33   25,000 25,156
The Southern Company (6.375% to 3-15-35, then 5 Year CMT + 2.069%) 6.375 03-15-55   10,000 10,187
Independent power and renewable electricity producers 0.5%      
Vistra Operations Company LLC (A) 6.000 04-15-34   49,000 49,434
Multi-utilities 0.7%      
Dominion Energy, Inc. (6.875% to 2-1-30, then 5 Year CMT + 2.386%) 6.875 02-01-55   23,000 23,652
Dominion Energy, Inc. (7.000% to 6-1-34, then 5 Year CMT + 2.511%) 7.000 06-01-54   23,000 23,880
Sempra 5.500 08-01-33   24,000 24,157
Collateralized mortgage obligations 4.2%       $418,920
(Cost $412,710)          
Commercial and residential 3.6%     359,810
BANK5    
Series 2024-5YR8, Class A3 5.884 08-15-57   10,000 10,445
Benchmark Mortgage Trust    
Series 2020-B16, Class A5 2.732 02-15-53   50,000 45,616
Series 2024-V12, Class A3 5.738 12-15-57   10,000 10,410
BX Trust    
Series 2019-OC11, Class A (A) 3.202 12-09-41   26,000 24,122
COLT Mortgage Loan Trust    
Series 2022-2, Class A1 (2.994% to 2-1-26, then 3.994% thereafter) (A) 2.994 02-25-67   66,456 62,496
GCAT Trust    
Series 2020-NQM2, Class A1 (A) 2.555 04-25-65   29,535 28,244
OBX Trust    
Series 2021-NQM3, Class A1 (A)(D) 1.054 07-25-61   56,519 45,814
ROCK Trust    
Series 2024-CNTR, Class A (A) 5.388 11-13-41   100,000 101,857
Towd Point Mortgage Trust    
Series 2018-4, Class A1 (A)(D) 3.000 06-25-58   32,656 30,806
U.S. Government Agency 0.6%     59,110
Government National Mortgage Association    
Series 2024-179, Class XI IO 0.831 12-16-66   274,877 20,408
Series 2025-3, Class IO 0.855 04-16-67   265,471 18,987
Series 2025-35, Class IO 0.769 09-16-66   326,543 19,715
Asset-backed securities 7.7%         $778,009
(Cost $771,047)          
Asset-backed securities 7.7%     778,009
Aligned Data Centers Issuer LLC          
Series 2023-2A, Class A2 (A) 6.500 11-16-48   50,000 50,590
Arby’s Funding LLC          
Series 2020-1A, Class A2 (A) 3.237 07-30-50   23,813 22,679
CARS-DB8 LP          
Series 2024-2A, Class A1 (A) 4.900 05-15-54   96,333 96,158
Compass Datacenters Issuer III LLC          
Series 2025-2A, Class A2 (A) 5.835 02-25-50   25,000 25,339
CyrusOne Data Centers Issuer I LLC          
Series 2024-2A, Class A2 (A) 4.500 05-20-49   25,000 24,172
DataBank Issuer          
Series 2023-1A, Class A2 (A) 5.116 02-25-53   100,000 97,810
DB Master Finance LLC          
Series 2021-1A, Class A2II (A) 2.493 11-20-51   48,375 44,658
Driven Brands Funding LLC          
Series 2024-1A, Class A2 (A) 6.372 10-20-54   49,625 50,802
ExteNet Issuer LLC          
Series 2024-1A, Class A2 (A) 5.335 07-25-54   25,000 25,026
GM Financial Revolving Receivables Trust          
Series 2024-1, Class A (A) 4.980 12-11-36   25,000 25,562
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 6
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Asset-backed securities (continued)      
Hotwire Funding LLC          
Series 2021-1, Class A2 (A) 2.311 11-20-51   25,000 $23,863
Jersey Mike’s Funding LLC          
Series 2024-1A, Class A2 (A) 5.636 02-15-55   50,000 49,758
Progress Residential Trust          
Series 2025-SFR1, Class A (A) 3.400 02-17-42   100,000 93,877
Retained Vantage Data Centers Issuer LLC          
Series 2023-1A, Class A2A (A) 5.000 09-15-48   25,000 24,808
Sonic Capital LLC          
Series 2020-1A, Class A2I (A) 3.845 01-20-50   23,833 23,283
Subway Funding LLC          
Series 2024-3A, Class A2I (A) 5.246 07-30-54   24,875 24,664
Switch ABS Issuer LLC          
Series 2025-1A, Class A2 (A) 5.036 03-25-55   25,000 24,329
Uniti Fiber Issuer LLC          
Series 2025-1A, Class A2 (A) 5.877 04-20-55   25,000 25,517
Zayo Issuer LLC          
Series 2025-1A, Class A2 (A) 5.648 03-20-55   25,000 25,114
    
    Yield (%)   Shares Value
Short-term investments 0.5%         $50,018
(Cost $50,014)          
Short-term funds 0.5%         50,018
John Hancock Collateral Trust (E) 4.2081(F)   5,000 50,018
    
Total investments (Cost $9,955,440) 99.4%     $9,969,205
Other assets and liabilities, net 0.6%       58,037
Total net assets 100.0%         $10,027,242
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME CME Group Published Rates
CMT Constant Maturity Treasury
IO Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.
SOFR Secured Overnight Financing Rate
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $1,394,056 or 13.9% of the fund’s net assets as of 4-30-25.
(B) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(C) All or a portion of this security is on loan as of 4-30-25.
(D) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $9,226.
(F) The rate shown is the annualized seven-day yield as of 4-30-25.
CORE PLUS BOND ETF
As of 4-30-25
  Rate (%) Maturity date   Par value^ Value
U.S. Government and Agency obligations 56.2%       $27,372,693
(Cost $27,031,015)          
U.S. Government 20.0%       9,747,981
U.S. Treasury          
Bond 4.625 02-15-55   1,174,000 1,161,710
Bond 4.750 02-15-45   2,936,000 2,956,181
Note 3.875 03-31-27   245,000 246,139
Note 3.875 04-30-30   410,000 412,915
Note 4.000 12-15-27   178,000 179,898
Note 4.000 04-30-32   1,594,000 1,600,974
Note 4.250 11-30-26   1,032,000 1,040,546
Note 4.250 01-15-28   104,000 105,743
7 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government (continued)        
Note 4.625 02-15-35   1,970,000 $2,043,875
U.S. Government Agency 36.2%       17,624,712
Federal Home Loan Mortgage Corp.          
30 Yr Pass Thru 2.500 01-01-52   128,904 108,441
30 Yr Pass Thru 2.500 02-01-52   233,596 196,075
30 Yr Pass Thru 3.000 09-01-51   240,999 211,394
30 Yr Pass Thru 3.000 02-01-52   162,474 142,363
30 Yr Pass Thru 3.000 03-01-52   159,864 140,076
30 Yr Pass Thru 3.000 05-01-52   283,340 249,242
30 Yr Pass Thru 3.500 01-01-50   249,650 228,107
30 Yr Pass Thru 3.500 04-01-50   258,187 236,149
30 Yr Pass Thru 3.500 01-01-52   256,492 233,317
30 Yr Pass Thru 3.500 03-01-52   132,378 120,706
30 Yr Pass Thru 4.000 05-01-52   158,716 149,612
30 Yr Pass Thru 4.000 06-01-52   203,973 190,361
30 Yr Pass Thru 4.000 06-01-52   228,403 213,731
30 Yr Pass Thru 4.000 07-01-52   229,927 216,164
30 Yr Pass Thru 4.000 07-01-52   230,559 215,173
30 Yr Pass Thru 4.000 07-01-52   157,685 147,926
30 Yr Pass Thru 4.000 12-01-52   230,215 216,434
30 Yr Pass Thru 4.000 02-01-53   158,276 149,197
30 Yr Pass Thru 4.000 04-01-53   229,528 216,075
30 Yr Pass Thru 4.000 04-01-53   230,874 216,476
30 Yr Pass Thru 4.000 01-01-54   231,867 216,303
30 Yr Pass Thru 4.500 07-01-52   234,519 226,279
30 Yr Pass Thru 4.500 02-01-53   229,748 221,686
30 Yr Pass Thru 4.500 02-01-53   175,984 168,764
30 Yr Pass Thru 4.500 02-01-54   230,576 221,818
30 Yr Pass Thru 4.500 02-01-54   63,635 61,243
30 Yr Pass Thru 5.000 03-01-53   236,418 233,450
30 Yr Pass Thru 5.000 04-01-53   154,795 153,383
30 Yr Pass Thru 5.000 04-01-53   160,012 157,803
30 Yr Pass Thru 5.000 06-01-53   116,785 114,698
30 Yr Pass Thru 5.000 06-01-53   237,932 233,383
30 Yr Pass Thru 5.000 08-01-53   232,909 228,820
30 Yr Pass Thru 5.000 10-01-53   233,029 231,269
30 Yr Pass Thru 5.000 03-01-54   115,946 114,418
30 Yr Pass Thru 5.000 03-01-54   115,412 114,064
30 Yr Pass Thru 5.000 10-01-54   234,877 231,708
30 Yr Pass Thru 5.000 11-01-54   236,540 232,591
30 Yr Pass Thru 5.000 12-01-54   74,209 73,138
30 Yr Pass Thru 5.500 07-01-54   56,865 57,093
30 Yr Pass Thru 5.500 01-01-55   178,416 179,437
30 Yr Pass Thru 5.500 02-01-55   89,437 89,936
Federal National Mortgage Association          
15 Yr Pass Thru 2.000 07-01-36   136,550 124,740
15 Yr Pass Thru 2.500 08-01-35   132,754 124,418
15 Yr Pass Thru 2.500 03-01-36   92,066 85,856
30 Yr Pass Thru 2.000 06-01-50   246,884 197,614
30 Yr Pass Thru 2.000 07-01-50   162,764 130,281
30 Yr Pass Thru 2.000 07-01-51   246,401 197,150
30 Yr Pass Thru 2.000 03-01-52   167,277 134,677
30 Yr Pass Thru 2.500 01-01-50   248,345 208,998
30 Yr Pass Thru 2.500 09-01-50   248,127 206,721
30 Yr Pass Thru 2.500 05-01-51   127,635 107,054
30 Yr Pass Thru 2.500 01-01-52   247,386 206,645
30 Yr Pass Thru 3.000 01-01-50   287,146 251,916
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 8
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)        
30 Yr Pass Thru 3.000 03-01-50   284,916 $249,960
30 Yr Pass Thru 3.000 06-01-51   162,870 142,964
30 Yr Pass Thru 3.000 11-01-51   239,959 210,407
30 Yr Pass Thru 3.000 12-01-51   166,109 145,626
30 Yr Pass Thru 3.000 03-01-52   289,576 252,827
30 Yr Pass Thru 3.000 05-01-52   290,268 252,070
30 Yr Pass Thru 3.500 01-01-50   134,665 122,708
30 Yr Pass Thru 3.500 05-01-50   133,546 121,646
30 Yr Pass Thru 3.500 07-01-51   257,782 235,134
30 Yr Pass Thru 3.500 01-01-52   260,936 235,565
30 Yr Pass Thru 3.500 04-01-52   257,695 234,894
30 Yr Pass Thru 3.500 04-01-52   248,764 226,131
30 Yr Pass Thru 3.500 06-01-52   261,905 237,177
30 Yr Pass Thru 3.500 07-01-52   135,161 122,146
30 Yr Pass Thru 4.000 05-01-49   202,347 190,361
30 Yr Pass Thru 4.000 05-01-52   231,353 215,985
30 Yr Pass Thru 4.000 06-01-52   204,069 191,407
30 Yr Pass Thru 4.500 06-01-52   141,080 136,405
30 Yr Pass Thru 4.500 07-01-52   171,401 165,400
30 Yr Pass Thru 4.500 07-01-52   233,116 223,697
30 Yr Pass Thru 4.500 08-01-52   234,418 224,819
30 Yr Pass Thru 4.500 09-01-52   228,544 219,381
30 Yr Pass Thru 4.500 10-01-52   171,321 165,309
30 Yr Pass Thru 4.500 11-01-52   142,685 137,678
30 Yr Pass Thru 4.500 06-01-53   173,303 166,409
30 Yr Pass Thru 4.500 07-01-53   142,608 137,280
30 Yr Pass Thru 4.500 07-01-53   144,198 138,975
30 Yr Pass Thru 4.500 09-01-53   144,512 139,023
30 Yr Pass Thru 4.500 01-01-54   230,563 222,328
30 Yr Pass Thru 4.500 04-01-54   233,444 224,577
30 Yr Pass Thru 5.000 08-01-52   155,488 154,217
30 Yr Pass Thru 5.000 09-01-52   63,293 62,201
30 Yr Pass Thru 5.000 03-01-53   234,148 230,696
30 Yr Pass Thru 5.000 06-01-53   231,717 227,722
30 Yr Pass Thru 5.000 06-01-53   116,180 114,141
30 Yr Pass Thru 5.000 06-01-53   113,201 112,310
30 Yr Pass Thru 5.000 09-01-53   152,866 150,994
30 Yr Pass Thru 5.000 11-01-53   98,375 96,433
30 Yr Pass Thru 5.000 11-01-54   91,196 90,044
30 Yr Pass Thru 5.000 11-01-54   114,720 112,913
30 Yr Pass Thru 5.000 12-01-54   116,428 114,448
30 Yr Pass Thru 5.500 07-01-53   221,009 222,930
30 Yr Pass Thru 5.500 09-01-53   226,594 227,431
30 Yr Pass Thru 5.500 09-01-53   225,598 226,855
30 Yr Pass Thru 5.500 10-01-54   54,403 54,839
30 Yr Pass Thru 5.500 11-01-54   55,512 55,717
30 Yr Pass Thru 5.500 11-01-54   233,630 235,588
30 Yr Pass Thru 5.500 11-01-54   56,598 56,680
30 Yr Pass Thru 5.500 01-01-55   55,273 55,891
Corporate bonds 35.3%     $17,210,517
(Cost $17,376,081)          
Communication services 1.9%     911,761
Diversified telecommunication services 0.6%      
AT&T, Inc. 2.750 06-01-31   141,000 126,529
AT&T, Inc. 4.500 05-15-35   30,000 28,303
Verizon Communications, Inc. 2.550 03-21-31   137,000 121,983
9 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Communication services (continued)      
Entertainment 0.2%      
WarnerMedia Holdings, Inc. 4.279 03-15-32   94,000 $80,490
Interactive media and services 0.1%      
Match Group Holdings II LLC (A) 4.125 08-01-30   41,000 37,075
Media 0.8%      
CCO Holdings LLC 4.500 05-01-32   19,000 16,881
Charter Communications Operating LLC 2.800 04-01-31   297,000 257,941
Midcontinent Communications (A) 8.000 08-15-32   119,000 121,320
Wireless telecommunication services 0.2%      
Vodafone Group PLC (7.000% to 4-4-29, then 5 Year U.S. Swap Rate + 4.873% to 4-4-49, then 5 Year U.S. Swap Rate + 5.623%) 7.000 04-04-79   118,000 121,239
Consumer discretionary 3.5%     1,708,026
Automobiles 1.0%      
Ford Motor Company 6.100 08-19-32   371,000 355,840
General Motors Financial Company, Inc. 3.600 06-21-30   133,000 122,364
Broadline retail 0.0%      
Macy’s Retail Holdings LLC (A) 6.125 03-15-32   19,000 17,108
Diversified consumer services 0.3%      
Service Corp. International 5.750 10-15-32   125,000 123,405
Hotels, restaurants and leisure 1.1%      
Full House Resorts, Inc. (A) 8.250 02-15-28   122,000 114,177
Hilton Grand Vacations Borrower LLC (A) 6.625 01-15-32   119,000 116,600
MGM Resorts International 4.750 10-15-28   128,000 123,423
NCL Corp., Ltd. (A) 6.750 02-01-32   34,000 33,199
Rivers Enterprise Borrower LLC (A) 6.625 02-01-33   30,000 29,611
Royal Caribbean Cruises, Ltd. (A) 6.250 03-15-32   120,000 121,799
Household durables 0.3%      
KB Home 4.000 06-15-31   135,000 121,665
Newell Brands, Inc. 6.375 05-15-30   26,000 23,668
Specialty retail 0.8%      
Asbury Automotive Group, Inc. (A) 4.625 11-15-29   131,000 123,188
Global Auto Holdings, Ltd. (A) 8.750 01-15-32   39,000 31,241
Lithia Motors, Inc. (A) 4.375 01-15-31   134,000 123,094
Velocity Vehicle Group LLC (A) 8.000 06-01-29   118,000 119,186
Textiles, apparel and luxury goods 0.0%      
S&S Holdings LLC (A) 8.375 10-01-31   9,000 8,458
Consumer staples 0.1%     40,552
Food products 0.1%      
JBS USA LUX Sarl (A) 5.950 04-20-35   11,000 11,320
Mars, Inc. (A) 5.000 03-01-32   29,000 29,232
Energy 6.2%     3,033,132
Oil, gas and consumable fuels 6.2%      
Antero Midstream Partners LP (A) 6.625 02-01-32   119,000 120,230
Antero Resources Corp. (A) 5.375 03-01-30   125,000 120,956
Ascent Resources Utica Holdings LLC (A) 5.875 06-30-29   251,000 243,554
Blue Racer Midstream LLC (A) 7.250 07-15-32   117,000 119,969
Buckeye Partners LP (A) 4.500 03-01-28   10,000 9,641
Cheniere Energy Partners LP 5.950 06-30-33   117,000 119,432
Columbia Pipelines Operating Company LLC (A) 6.036 11-15-33   120,000 123,994
Continental Resources, Inc. 4.900 06-01-44   152,000 117,388
Diamondback Energy, Inc. 5.150 01-30-30   120,000 121,772
Enbridge, Inc. (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%) 8.500 01-15-84   220,000 237,136
Energy Transfer LP (7.125% to 5-15-30, then 5 Year CMT + 5.306%) (B) 7.125 05-15-30   248,000 244,394
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 10
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Energy (continued)      
Oil, gas and consumable fuels (continued)      
EQT Corp. (A) 6.375 04-01-29   23,000 $23,534
Genesis Energy LP 7.875 05-15-32   21,000 20,433
Genesis Energy LP 8.000 05-15-33   24,000 23,278
Global Partners LP (A) 8.250 01-15-32   24,000 24,432
Harbour Energy PLC (A) 6.327 04-01-35   71,000 67,474
Long Ridge Energy LLC (A)(C) 8.750 02-15-32   29,000 27,614
Matador Resources Company (A) 6.250 04-15-33   125,000 117,987
Occidental Petroleum Corp. 6.050 10-01-54   127,000 109,562
Parkland Corp. (A) 4.500 10-01-29   131,000 123,503
Sunoco LP 4.500 04-30-30   49,000 46,112
Sunoco LP (A) 6.250 07-01-33   20,000 19,973
Sunoco LP (A) 7.250 05-01-32   118,000 122,368
Talos Production, Inc. (A) 9.375 02-01-31   116,000 109,066
Targa Resources Corp. 6.150 03-01-29   117,000 121,970
Venture Global Calcasieu Pass LLC (A) 4.125 08-15-31   136,000 122,176
Venture Global LNG, Inc. (A) 7.000 01-15-30   244,000 229,848
Vital Energy, Inc. (A) 7.875 04-15-32   29,000 22,530
Whistler Pipeline LLC (A) 5.700 09-30-31   121,000 122,806
Financials 11.1%     5,411,306
Banks 6.8%      
Bank of America Corp. (3.846% to 3-8-32, then 5 Year CMT + 2.000%) 3.846 03-08-37   201,000 179,216
Bank of America Corp. (4.571% to 4-27-32, then Overnight SOFR + 1.830%) 4.571 04-27-33   257,000 248,992
Bank of America Corp. (5.425% to 8-15-34, then Overnight SOFR + 1.913%) 5.425 08-15-35   81,000 79,280
Bank of America Corp. (6.625% to 5-1-30, then 5 Year CMT + 2.684%) (B) 6.625 05-01-30   73,000 73,034
Citigroup, Inc. (6.174% to 5-25-33, then Overnight SOFR + 2.661%) 6.174 05-25-34   241,000 246,679
Citizens Financial Group, Inc. (5.253% to 3-5-30, then Overnight SOFR + 1.259%) 5.253 03-05-31   36,000 36,051
Citizens Financial Group, Inc. (5.718% to 7-23-31, then Overnight SOFR + 1.910%) 5.718 07-23-32   240,000 244,038
Comerica, Inc. (5.982% to 1-30-29, then Overnight SOFR + 2.155%) 5.982 01-30-30   119,000 120,462
Fifth Third Bancorp (4.772% to 7-28-29, then SOFR Compounded Index + 2.127%) 4.772 07-28-30   123,000 122,585
First Citizens BancShares, Inc. (5.231% to 3-12-30, then Overnight SOFR + 1.410%) 5.231 03-12-31   46,000 45,877
First Horizon Corp. (5.514% to 3-7-30, then Overnight SOFR + 1.766%) 5.514 03-07-31   29,000 29,165
Huntington Bancshares, Inc. (5.272% to 1-15-30, then Overnight SOFR + 1.276%) 5.272 01-15-31   247,000 248,855
JPMorgan Chase & Co. (2.522% to 4-22-30, then Overnight SOFR + 2.040%) 2.522 04-22-31   285,000 257,926
JPMorgan Chase & Co. (5.581% to 4-22-29, then Overnight SOFR + 1.160%) 5.581 04-22-30   248,000 256,991
KeyCorp (5.121% to 4-4-30, then SOFR Compounded Index + 1.227%) (C) 5.121 04-04-31   48,000 47,928
M&T Bank Corp. (5.385% to 1-16-35, then Overnight SOFR + 1.610%) 5.385 01-16-36   255,000 248,207
Regions Financial Corp. (5.502% to 9-6-34, then Overnight SOFR + 2.060%) 5.502 09-06-35   124,000 121,428
The PNC Financial Services Group, Inc. (5.575% to 1-29-35, then Overnight SOFR + 1.394%) 5.575 01-29-36   34,000 34,415
Truist Financial Corp. (7.161% to 10-30-28, then Overnight SOFR + 2.446%) 7.161 10-30-29   348,000 375,705
Wells Fargo & Company (5.198% to 1-23-29, then Overnight SOFR + 1.500%) 5.198 01-23-30   249,000 253,990
Wells Fargo & Company (5.244% to 1-24-30, then Overnight SOFR + 1.110%) 5.244 01-24-31   30,000 30,622
Capital markets 3.2%      
Ares Strategic Income Fund (A) 6.200 03-21-32   119,000 117,537
Ares Strategic Income Fund (A) 6.350 08-15-29   119,000 121,271
Blackstone Private Credit Fund 5.950 07-16-29   119,000 119,611
Blackstone Private Credit Fund 6.000 01-29-32   121,000 119,991
HPS Corporate Lending Fund 5.950 04-14-32   19,000 18,550
Lazard Group LLC 4.375 03-11-29   126,000 123,460
Morgan Stanley (2.484% to 9-16-31, then Overnight SOFR + 1.360%) 2.484 09-16-36   303,000 252,773
Morgan Stanley (5.173% to 1-16-29, then Overnight SOFR + 1.450%) 5.173 01-16-30   249,000 253,598
MSCI, Inc. (A) 3.625 11-01-31   137,000 123,380
Sixth Street Lending Partners (A) 6.125 07-15-30   19,000 19,069
The Bank of New York Mellon Corp. (4.975% to 3-14-29, then Overnight SOFR + 1.085%) 4.975 03-14-30   247,000 252,570
The Goldman Sachs Group, Inc. (2.650% to 10-21-31, then Overnight SOFR + 1.264%) 2.650 10-21-32   48,000 41,653
11 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Financials (continued)      
Consumer finance 0.3%      
Ally Financial, Inc. 8.000 11-01-31   112,000 $124,029
Financial services 0.3%      
Block, Inc. 3.500 06-01-31   140,000 124,959
TrueNoord Capital DAC (A) 8.750 03-01-30   21,000 21,451
Insurance 0.3%      
Athene Holding, Ltd. (6.625% to 10-15-34, then 5 Year CMT + 2.607%) 6.625 10-15-54   16,000 15,373
Global Atlantic Financial Company (7.950% to 10-15-29, then 5 Year CMT + 3.608%) (A) 7.950 10-15-54   116,000 117,800
Reinsurance Group of America, Inc. (6.650% to 9-15-35, then 5 Year CMT + 2.392%) 6.650 09-15-55   20,000 19,379
Mortgage real estate investment trusts 0.2%      
Starwood Property Trust, Inc. (A) 7.250 04-01-29   119,000 123,406
Health care 2.1%     1,014,446
Biotechnology 1.1%      
AbbVie, Inc. 5.050 03-15-34   139,000 140,170
Amgen, Inc. 5.250 03-02-30   121,000 124,442
Amgen, Inc. 5.250 03-02-33   251,000 253,645
Star Parent, Inc. (A) 9.000 10-01-30   14,000 14,165
Health care providers and services 0.5%      
HCA, Inc. 5.450 04-01-31   121,000 123,316
Universal Health Services, Inc. 2.650 10-15-30   144,000 126,274
Pharmaceuticals 0.5%      
Viatris, Inc. 2.700 06-22-30   142,000 122,929
Viatris, Inc. 4.000 06-22-50   174,000 109,505
Industrials 4.0%     1,973,055
Aerospace and defense 0.3%      
The Boeing Company 6.528 05-01-34   115,000 123,527
Building products 0.2%      
Builders FirstSource, Inc. (A) 4.250 02-01-32   134,000 120,682
Commercial services and supplies 0.3%      
Allied Universal Holdco LLC (A) 7.875 02-15-31   121,000 123,585
Construction and engineering 0.5%      
Brundage-Bone Concrete Pumping Holdings, Inc. (A) 7.500 02-01-32   11,000 10,734
CIMIC Finance USA Pty, Ltd. (A) 7.000 03-25-34   119,000 123,977
Quanta Services, Inc. 2.900 10-01-30   139,000 125,823
Electrical equipment 0.2%      
Regal Rexnord Corp. 6.300 02-15-30   119,000 122,906
Machinery 0.2%      
JB Poindexter & Company, Inc. (A) 8.750 12-15-31   116,000 116,623
Passenger airlines 1.9%      
American Airlines 2019-1 Class A Pass Through Trust 3.500 02-15-32   247,762 221,792
American Airlines 2021-1 Class A Pass Through Trust 2.875 07-11-34   264,112 228,536
United Airlines 2023-1 Class A Pass Through Trust 5.800 01-15-36   233,097 232,038
United Airlines 2024-1 Class AA Pass Through Trust 5.450 02-15-37   245,842 244,452
Trading companies and distributors 0.4%      
AerCap Ireland Capital DAC 3.300 01-30-32   187,000 165,229
WESCO Distribution, Inc. (A) 6.375 03-15-33   13,000 13,151
Information technology 1.5%     707,063
IT services 0.0%      
Virtusa Corp. (A) 7.125 12-15-28   10,000 9,533
Semiconductors and semiconductor equipment 0.6%      
Broadcom, Inc. (A) 3.419 04-15-33   142,000 126,636
Marvell Technology, Inc. 5.950 09-15-33   24,000 24,836
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 12
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Information technology (continued)      
Semiconductors and semiconductor equipment (continued)      
Qorvo, Inc. (A) 3.375 04-01-31   143,000 $125,015
Software 0.6%      
Cloud Software Group, Inc. (A) 8.250 06-30-32   14,000 14,604
Cloud Software Group, Inc. (A) 9.000 09-30-29   10,000 10,074
Oracle Corp. 5.250 02-03-32   34,000 34,470
Oracle Corp. 5.550 02-06-53   260,000 238,131
Technology hardware, storage and peripherals 0.3%      
CDW LLC 5.100 03-01-30   124,000 123,764
Materials 0.9%     462,962
Construction materials 0.0%      
Quikrete Holdings, Inc. (A) 6.375 03-01-32   28,000 28,158
Metals and mining 0.8%      
Capstone Copper Corp. (A) 6.750 03-31-33   10,000 9,826
Freeport-McMoRan, Inc. 5.400 11-14-34   124,000 123,669
Freeport-McMoRan, Inc. 5.450 03-15-43   129,000 119,269
Novelis Corp. (A) 4.750 01-30-30   129,000 119,955
Novelis Corp. (A) 6.875 01-30-30   9,000 9,130
Paper and forest products 0.1%      
Magnera Corp. (A) 7.250 11-15-31   56,000 52,955
Real estate 1.2%     597,568
Hotel and resort REITs 0.0%      
XHR LP (A) 6.625 05-15-30   19,000 18,716
Real estate management and development 0.3%      
CoStar Group, Inc. (A) 2.800 07-15-30   139,000 123,178
Specialized REITs 0.9%      
American Tower Corp. 5.550 07-15-33   35,000 35,817
American Tower Corp. 5.650 03-15-33   35,000 36,161
GLP Capital LP 3.250 01-15-32   141,000 121,490
Iron Mountain Information Management Services, Inc. (A) 5.000 07-15-32   133,000 124,258
Uniti Group LP (A) 6.500 02-15-29   16,000 14,637
VICI Properties LP 5.125 05-15-32   126,000 123,311
Utilities 2.8%     1,350,646
Electric utilities 2.0%      
Constellation Energy Generation LLC 6.500 10-01-53   116,000 120,025
Exelon Corp. 5.125 03-15-31   29,000 29,520
Exelon Corp. (6.500% to 3-15-35, then 5 Year CMT + 1.975%) 6.500 03-15-55   9,000 8,948
NextEra Energy Capital Holdings, Inc. (6.375% to 8-15-30, then 5 Year CMT + 2.053%) 6.375 08-15-55   26,000 26,055
NextEra Energy Capital Holdings, Inc. (6.500% to 8-15-35, then 5 Year CMT + 1.979%) 6.500 08-15-55   10,000 10,056
NRG Energy, Inc. (A) 3.625 02-15-31   140,000 125,828
NRG Energy, Inc. (10.250% to 3-15-28, then 5 Year CMT + 5.920%) (A)(B) 10.250 03-15-28   112,000 122,701
Pacific Gas & Electric Company 4.950 07-01-50   136,000 109,552
Pacific Gas & Electric Company 5.800 05-15-34   119,000 118,780
PacifiCorp (7.375% to 9-15-30, then 5 Year CMT + 3.319%) 7.375 09-15-55   39,000 39,588
PG&E Corp. (7.375% to 3-15-30, then 5 Year CMT + 3.883%) 7.375 03-15-55   238,000 231,048
The Southern Company (6.375% to 3-15-35, then 5 Year CMT + 2.069%) 6.375 03-15-55   46,000 46,861
Independent power and renewable electricity producers 0.3%      
XPLR Infrastructure Operating Partners LP (A) 4.500 09-15-27   129,000 121,961
Multi-utilities 0.5%      
Dominion Energy, Inc. (6.875% to 2-1-30, then 5 Year CMT + 2.386%) 6.875 02-01-55   116,000 119,286
Dominion Energy, Inc. (7.000% to 6-1-34, then 5 Year CMT + 2.511%) 7.000 06-01-54   116,000 120,437
13 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Collateralized mortgage obligations 2.6%       $1,261,545
(Cost $1,249,318)          
Commercial and residential 2.0%     986,536
BAHA Trust    
Series 2024-MAR, Class A (A)(D) 6.171 12-10-41   100,000 103,234
BANK5    
Series 2024-5YR8, Class A3 5.884 08-15-57   38,000 39,691
Benchmark Mortgage Trust    
Series 2020-B16, Class A5 2.732 02-15-53   150,000 136,848
Series 2024-V12, Class A3 5.738 12-15-57   38,000 39,557
BX Trust    
Series 2019-OC11, Class A (A) 3.202 12-09-41   97,000 89,994
Citigroup Commercial Mortgage Trust    
Series 2023-SMRT, Class A (A)(D) 6.015 10-12-40   100,000 103,072
COLT Mortgage Loan Trust    
Series 2022-2, Class A1 (2.994% to 2-1-26, then 3.994% thereafter) (A) 2.994 02-25-67   132,912 124,993
GCAT Trust    
Series 2020-NQM2, Class A1 (A) 2.555 04-25-65   73,837 70,609
Hudson Yards Mortgage Trust    
Series 2025-SPRL, Class A (A)(D) 5.649 01-13-40   100,000 102,764
ROCK Trust    
Series 2024-CNTR, Class A (A) 5.388 11-13-41   100,000 101,857
Towd Point Mortgage Trust    
Series 2020-1, Class A1 (A)(D) 2.710 01-25-60   77,208 73,917
U.S. Government Agency 0.6%     275,009
Government National Mortgage Association    
Series 2024-179, Class XI IO 0.831 12-16-66   1,371,395 101,819
Series 2025-3, Class IO 0.855 04-16-67   1,044,917 74,736
Series 2025-35, Class IO 0.769 09-16-66   1,630,730 98,454
Asset-backed securities 4.3%         $2,123,534
(Cost $2,106,728)          
Asset-backed securities 4.3%     2,123,534
Aligned Data Centers Issuer LLC          
Series 2023-2A, Class A2 (A) 6.500 11-16-48   100,000 101,179
Arby’s Funding LLC          
Series 2020-1A, Class A2 (A) 3.237 07-30-50   95,250 90,715
CARS-DB8 LP          
Series 2024-2A, Class A1 (A) 4.900 05-15-54   192,667 192,317
CLI Funding VIII LLC          
Series 2022-1A, Class A (A) 2.720 01-18-47   131,664 119,309
Compass Datacenters Issuer II LLC          
Series 2024-1A, Class A1 (A) 5.250 02-25-49   25,000 25,220
Compass Datacenters Issuer III LLC          
Series 2025-2A, Class A2 (A) 5.835 02-25-50   25,000 25,339
CyrusOne Data Centers Issuer I LLC          
Series 2024-2A, Class A2 (A) 4.500 05-20-49   100,000 96,689
DataBank Issuer          
Series 2023-1A, Class A2 (A) 5.116 02-25-53   150,000 146,716
DB Master Finance LLC          
Series 2021-1A, Class A2II (A) 2.493 11-20-51   145,125 133,973
Driven Brands Funding LLC          
Series 2024-1A, Class A2 (A) 6.372 10-20-54   198,500 203,209
ExteNet Issuer LLC          
Series 2024-1A, Class A2 (A) 5.335 07-25-54   100,000 100,105
GM Financial Revolving Receivables Trust          
Series 2024-1, Class A (A) 4.980 12-11-36   100,000 102,249
Hotwire Funding LLC          
Series 2021-1, Class A2 (A) 2.311 11-20-51   100,000 95,453
Jersey Mike’s Funding LLC          
Series 2024-1A, Class A2 (A) 5.636 02-15-55   100,000 99,517
Progress Residential Trust          
Series 2025-SFR1, Class A (A) 3.400 02-17-42   100,000 93,877
Retained Vantage Data Centers Issuer LLC          
Series 2023-1A, Class A2A (A) 5.000 09-15-48   25,000 24,808
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 14
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Asset-backed securities (continued)      
SMB Private Education Loan Trust          
Series 2023-C, Class A1A (A) 5.670 11-15-52   117,591 $120,340
Series 2024-A, Class A1A (A) 5.240 03-15-56   87,195 88,170
Sonic Capital LLC          
Series 2020-1A, Class A2I (A) 3.845 01-20-50   95,333 93,132
Subway Funding LLC          
Series 2024-3A, Class A2I (A) 5.246 07-30-54   24,875 24,664
Switch ABS Issuer LLC          
Series 2024-2A, Class A2 (A) 5.436 06-25-54   25,000 24,829
Series 2025-1A, Class A2 (A) 5.036 03-25-55   25,000 24,329
Uniti Fiber Issuer LLC          
Series 2025-1A, Class A2 (A) 5.877 04-20-55   25,000 25,517
Wendy’s Funding LLC          
Series 2021-1A, Class A2I (A) 2.370 06-15-51   48,098 43,751
Zayo Issuer LLC          
Series 2025-1A, Class A2 (A) 5.648 03-20-55   28,000 28,127
    
    Yield (%)   Shares Value
Short-term investments 1.0%         $466,811
(Cost $466,784)          
Short-term funds 1.0%         466,811
John Hancock Collateral Trust (E) 4.2081(F)   46,666 466,811
    
Total investments (Cost $48,229,926) 99.4%     $48,435,100
Other assets and liabilities, net 0.6%       295,981
Total net assets 100.0%         $48,731,081
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CMT Constant Maturity Treasury
IO Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.
SOFR Secured Overnight Financing Rate
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $8,126,233 or 16.7% of the fund’s net assets as of 4-30-25.
(B) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(C) All or a portion of this security is on loan as of 4-30-25.
(D) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Market value of this investment amounted to $69,873.
(F) The rate shown is the annualized seven-day yield as of 4-30-25.
CORPORATE BOND ETF
As of 4-30-25
  Rate (%) Maturity date   Par value^ Value
Corporate bonds 98.9%     $55,067,086
(Cost $55,880,131)          
Communication services 7.0%     3,875,487
Diversified telecommunication services 0.8%      
AT&T, Inc. 3.550 09-15-55   662,000 443,326
Entertainment 1.8%      
WarnerMedia Holdings, Inc. 4.279 03-15-32   510,000 436,703
WMG Acquisition Corp. (A) 3.875 07-15-30   602,000 553,585
Interactive media and services 1.6%      
Meta Platforms, Inc. 4.450 08-15-52   1,067,000 887,558
Media 1.9%      
Charter Communications Operating LLC 2.800 04-01-31   688,000 597,519
News Corp. (A) 5.125 02-15-32   491,000 468,420
15 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Communication services (continued)      
Wireless telecommunication services 0.9%      
T-Mobile USA, Inc. 4.500 04-15-50   602,000 $488,376
Consumer discretionary 3.3%     1,848,479
Automobiles 1.4%      
Ford Motor Credit Company LLC 6.050 03-05-31   796,000 777,554
Broadline retail 1.9%      
Amazon.com, Inc. 4.950 12-05-44   1,114,000 1,070,925
Energy 6.8%     3,803,906
Oil, gas and consumable fuels 6.8%      
Cheniere Energy Partners LP 3.250 01-31-32   652,000 572,424
DT Midstream, Inc. (A) 4.300 04-15-32   612,000 562,403
Enbridge, Inc. (5.750% to 7-15-30, then 5 Year CMT + 5.314% to 7-15-50, then 5 Year CMT + 6.064%) 5.750 07-15-80   893,000 855,880
Occidental Petroleum Corp. 6.450 09-15-36   782,000 761,808
ONEOK, Inc. 6.050 09-01-33   500,000 512,969
Var Energi ASA (A) 8.000 11-15-32   496,000 538,422
Financials 43.6%     24,274,208
Banks 22.9%      
Bank of America Corp. (2.592% to 4-29-30, then Overnight SOFR + 2.150%) 2.592 04-29-31   1,546,000 1,396,889
Barclays PLC (5.690% to 3-12-29, then Overnight SOFR + 1.740%) 5.690 03-12-30   520,000 534,238
BNP Paribas SA (3.052% to 1-13-30, then Overnight SOFR + 1.507%) (A) 3.052 01-13-31   279,000 256,550
BNP Paribas SA (9.250% to 11-17-27, then 5 Year CMT + 4.969%) (A)(B) 9.250 11-17-27   443,000 466,098
Citizens Financial Group, Inc. 3.250 04-30-30   262,000 240,426
Citizens Financial Group, Inc. (5.718% to 7-23-31, then Overnight SOFR + 1.910%) 5.718 07-23-32   959,000 975,135
Comerica Bank (5.332% to 8-25-32, then Overnight SOFR + 2.610%) 5.332 08-25-33   999,000 944,473
Credit Agricole SA (A) 3.250 01-14-30   795,000 733,857
JPMorgan Chase & Co. (2.739% to 10-15-29, then 3 month CME Term SOFR + 1.510%) 2.739 10-15-30   1,394,000 1,289,667
Lloyds Banking Group PLC (6.750% to 6-27-26, then 5 Year CMT + 4.815%) (B) 6.750 06-27-26   689,000 687,550
M&T Bank Corp. (6.082% to 3-13-31, then Overnight SOFR + 2.260%) 6.082 03-13-32   511,000 531,716
Regions Financial Corp. (5.502% to 9-6-34, then Overnight SOFR + 2.060%) 5.502 09-06-35   673,000 659,041
The PNC Financial Services Group, Inc. (5.582% to 6-12-28, then Overnight SOFR + 1.841%) 5.582 06-12-29   548,000 565,012
Truist Financial Corp. (4.916% to 7-28-32, then Overnight SOFR + 2.240%) 4.916 07-28-33   1,104,000 1,054,557
U.S. Bancorp (5.850% to 10-21-32, then Overnight SOFR + 2.090%) 5.850 10-21-33   685,000 709,755
Wells Fargo & Company (2.879% to 10-30-29, then 3 month CME Term SOFR + 1.432%) 2.879 10-30-30   1,251,000 1,159,144
Wells Fargo & Company (4.478% to 4-4-30, then 3 month CME Term SOFR + 4.032%) 4.478 04-04-31   548,000 540,422
Capital markets 14.1%      
Ares Capital Corp. 5.875 03-01-29   652,000 656,426
Blackstone Private Credit Fund 6.250 01-25-31   648,000 658,994
Deutsche Bank AG (3.742% to 1-7-32, then Overnight SOFR + 2.257%) 3.742 01-07-33   746,000 658,006
Morgan Stanley (2.239% to 7-21-31, then Overnight SOFR + 1.178%) 2.239 07-21-32   638,000 544,007
Morgan Stanley (5.173% to 1-16-29, then Overnight SOFR + 1.450%) 5.173 01-16-30   1,013,000 1,031,706
MSCI, Inc. (A) 3.875 02-15-31   940,000 872,310
State Street Corp. (5.159% to 5-18-33, then Overnight SOFR + 1.890%) 5.159 05-18-34   654,000 660,267
The Bank of New York Mellon Corp. (5.060% to 7-22-31, then Overnight SOFR + 1.230%) 5.060 07-22-32   814,000 826,418
The Charles Schwab Corp. (4.000% to 12-1-30, then 10 Year CMT + 3.079%) (B) 4.000 12-01-30   491,000 428,442
The Charles Schwab Corp. (5.853% to 5-19-33, then Overnight SOFR + 2.500%) 5.853 05-19-34   383,000 400,176
UBS Group AG (4.194% to 4-1-30, then Overnight SOFR + 3.730%) (A) 4.194 04-01-31   609,000 590,584
UBS Group AG (9.250% to 11-13-33, then 5 Year CMT + 4.758%) (A)(B) 9.250 11-13-33   459,000 513,066
Consumer finance 1.5%      
Ally Financial, Inc. 8.000 11-01-31   746,000 826,121
Financial services 2.2%      
Apollo Debt Solutions BDC 6.700 07-29-31   592,000 602,457
Atlas Warehouse Lending Company LP (A) 6.250 01-15-30   334,000 334,767
Visa, Inc. 2.700 04-15-40   422,000 318,153
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 16
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Financials (continued)      
Insurance 2.9%      
Athene Global Funding (A) 1.450 01-08-26   529,000 $517,520
Prudential Financial, Inc. (3.700% to 10-1-30, then 5 Year CMT + 3.035%) 3.700 10-01-50   643,000 574,025
Teachers Insurance & Annuity Association of America (A) 4.270 05-15-47   643,000 516,233
Health care 6.8%     3,799,849
Biotechnology 3.2%      
Amgen, Inc. 5.650 03-02-53   1,028,000 986,679
Regeneron Pharmaceuticals, Inc. 1.750 09-15-30   917,000 783,986
Health care providers and services 0.9%      
Centene Corp. 2.625 08-01-31   633,000 534,667
Pharmaceuticals 2.7%      
Bristol-Myers Squibb Company 3.700 03-15-52   645,000 463,469
Pfizer Investment Enterprises Pte, Ltd. 5.300 05-19-53   514,000 475,973
Viatris, Inc. 4.000 06-22-50   882,000 555,075
Industrials 8.1%     4,509,834
Aerospace and defense 1.2%      
The Boeing Company 5.805 05-01-50   726,000 680,489
Construction and engineering 2.0%      
MasTec, Inc. 5.900 06-15-29   589,000 601,976
Quanta Services, Inc. 5.250 08-09-34   536,000 528,784
Electrical equipment 0.8%      
Regal Rexnord Corp. 6.300 02-15-30   405,000 418,294
Passenger airlines 3.1%      
Delta Air Lines, Inc. (A) 4.750 10-20-28   643,000 639,110
United Airlines 2020-1 Class A Pass Through Trust 5.875 10-15-27   458,659 466,899
United Airlines 2024-1 Class A Pass Through Trust 5.875 02-15-37   43,617 43,209
United Airlines 2024-1 Class AA Pass Through Trust 5.450 02-15-37   567,022 563,818
Trading companies and distributors 1.0%      
AerCap Ireland Capital DAC 3.300 01-30-32   642,000 567,255
Information technology 10.7%     5,926,090
IT services 1.2%      
Gartner, Inc. (A) 3.750 10-01-30   707,000 650,754
Semiconductors and semiconductor equipment 3.0%      
Foundry JV Holdco LLC (A) 5.875 01-25-34   589,000 591,484
Micron Technology, Inc. 5.875 02-09-33   501,000 511,384
Qorvo, Inc. (A) 3.375 04-01-31   637,000 556,884
Software 3.3%      
Microsoft Corp. 2.525 06-01-50   1,859,000 1,151,649
Oracle Corp. 3.950 03-25-51   950,000 685,959
Technology hardware, storage and peripherals 3.2%      
Apple, Inc. 2.700 08-05-51   1,251,000 776,289
CDW LLC 5.550 08-22-34   540,000 529,454
Dell International LLC 8.350 07-15-46   389,000 472,233
Materials 1.2%     677,122
Chemicals 1.2%      
Air Products & Chemicals, Inc. 2.800 05-15-50   1,076,000 677,122
Real estate 3.4%     1,894,079
Real estate management and development 1.0%      
CoStar Group, Inc. (A) 2.800 07-15-30   647,000 573,352
Specialized REITs 2.4%      
GLP Capital LP 4.000 01-15-30   529,000 498,652
17 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Real estate (continued)      
Specialized REITs (continued)      
VICI Properties LP 5.125 05-15-32   840,000 $822,075
Utilities 8.0%     4,458,032
Electric utilities 4.7%      
Constellation Energy Generation LLC 5.750 03-15-54   530,000 500,637
Duke Energy Corp. 3.300 06-15-41   642,000 467,015
NRG Energy, Inc. (A) 4.450 06-15-29   896,000 872,494
Pacific Gas & Electric Company 5.900 10-01-54   531,000 485,975
The Southern Company (6.375% to 3-15-35, then 5 Year CMT + 2.069%) 6.375 03-15-55   281,000 286,257
Independent power and renewable electricity producers 1.5%      
Vistra Operations Company LLC (A) 4.300 07-15-29   839,000 820,479
Multi-utilities 1.8%      
Dominion Energy, Inc. (7.000% to 6-1-34, then 5 Year CMT + 2.511%) 7.000 06-01-54   501,000 520,165
Sempra (6.875% to 10-1-29, then 5 Year CMT + 2.789%) 6.875 10-01-54   523,000 505,010
    
    Yield (%)   Shares Value
Short-term investments 0.0%         $16,974
(Cost $16,969)          
Short-term funds 0.0%         16,974
John Hancock Collateral Trust (C) 4.2081(D)   1,697 16,974
    
Total investments (Cost $55,897,100) 98.9%     $55,084,060
Other assets and liabilities, net 1.1%       616,503
Total net assets 100.0%         $55,700,563
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME CME Group Published Rates
CMT Constant Maturity Treasury
SOFR Secured Overnight Financing Rate
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $11,628,372 or 20.9% of the fund’s net assets as of 4-30-25.
(B) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(C) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(D) The rate shown is the annualized seven-day yield as of 4-30-25.
The fund had the following country composition as a percentage of net assets on 4-30-25:
United States 87.6%
France 2.6%
United Kingdom 2.2%
Switzerland 2.0%
Canada 1.5%
Germany 1.2%
Ireland 1.0%
Norway 1.0%
Other countries 0.9%
TOTAL 100.0%
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 18
Table of Contents
DYNAMIC MUNICIPAL BOND ETF
As of 4-30-25
  Rate (%) Maturity date   Par value^ Value
Municipal bonds 96.0%         $24,404,347
(Cost $24,228,665)          
Alabama 3.1%         799,270
Black Belt Energy Gas District
Alabama Gas Project Revenue, Series A 		5.250 05-01-55   250,000 264,959
Hoover Industrial Development Board
United States Steel Corp. Project, AMT 		5.750 10-01-49   250,000 250,466
Water Works Board of the City of Birmingham
Water Revenue 		5.000 01-01-36   260,000 283,845
Alaska 1.7%         432,963
Alaska Municipal Bond Bank Authority
Series 2, AMT 		5.000 12-01-30   210,000 221,985
Northern Tobacco Securitization Corp.
Series A, Class 1 		4.000 06-01-50   250,000 210,978
Arizona 5.4%         1,372,557
Chandler Industrial Development Authority
Intel Corp. Project, AMT 		4.000 06-01-49   200,000 198,886
Chandler Industrial Development Authority
Intel Corp. Project, AMT 		4.100 12-01-37   250,000 249,877
Glendale Industrial Development Authority
Midwest University Foundation, Series A, AMT 		5.000 07-01-28   350,000 359,033
Industrial Development Authority of the City of Phoenix
Legacy Traditional Schools Project (A) 		5.000 07-01-45   250,000 238,560
Phoenix City Industrial Development Board
MeadWestvaco Coated Board Project, Series A, AMT 		4.125 05-15-35   150,000 142,320
Yuma Industrial Development Authority
Yuma Regional Medical Center, Series A (B) 		4.000 08-01-54   200,000 183,881
California 5.2%         1,321,702
California Health Facilities Financing Authority
Commonspirit Health, Series A 		4.000 04-01-37   175,000 172,402
California Infrastructure & Economic Development Bank
Brightline West Passenger Project, Series A, AMT (A) 		9.500 01-01-65   350,000 337,820
California Municipal Finance Authority
Westside Neighborhood School Project (A) 		5.900 06-15-44   165,000 173,234
City of Los Angeles Department of Airports
Series A, AMT 		5.000 05-15-28   145,000 150,594
City of Los Angeles Wastewater System Revenue
Series C (C) 		5.000 06-01-35   200,000 226,518
City of Los Angeles Wastewater System Revenue
Series C (C) 		5.000 06-01-43   100,000 106,649
River Islands Public Financing Authority
Community Facilities District No. 2023-1 		5.625 09-01-53   150,000 154,485
Colorado 2.7%         677,032
Bromley Park Metropolitan District No. 2, GO (B) 5.500 12-01-43   200,000 212,234
City of Longmont Company Water Enterprise Revenue 3.000 11-01-33   155,000 143,371
Colorado Health Facilities Authority
CommonSpirit Health, Series A-1 		4.000 08-01-44   110,000 99,372
Trails at Crowfoot Metropolitan District No. 3
Series A, GO (B) 		4.000 12-01-44   250,000 222,055
Connecticut 0.9%         237,923
Connecticut State Health & Educational Facilities Authority
Goodwin University Obligated Group 		5.000 07-01-44   250,000 237,923
Delaware 0.7%         168,597
Delaware State Economic Development Authority
Aspira of Delaware Charter Operations, Inc. Project, Series A 		4.000 06-01-42   200,000 168,597
19 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Florida 4.9%         $1,255,081
Alachua County Health Facilities Authority
Oak Hammock at the University of Florida 		4.000 10-01-40   100,000 87,875
Cabot Citrus Farms
Community Development District 		5.250 03-01-29   100,000 100,257
Florida Development Finance Corp.
Nova Southeastern University Project, Series A 		5.000 04-01-27   530,000 546,125
Florida Higher Educational Facilities Financial Authority
Rollins College Project 		4.000 12-01-49   100,000 87,324
Palm Beach County Health Facilities Authority
Toby and Leon Cooperman Sinai Residences 		4.000 06-01-31   200,000 195,777
St. Johns County Industrial Development Authority
Vicar’s Landing Project, Series A 		4.000 12-15-30   175,000 165,086
St. Johns County Industrial Development Authority
Vicar’s Landing Project, Series A 		4.000 12-15-50   100,000 72,637
Georgia 1.2%         292,932
Athens-Clarke County Unified Government Development Authority
Georgia University 		4.000 06-15-56   50,000 45,081
Main Street Natural Gas, Inc.
Georgia Gas Supply Revenue, Series A 		4.000 09-01-52   250,000 247,851
Hawaii 0.7%         166,994
City & County Honolulu Wastewater System Revenue
Series A 		5.000 07-01-37   150,000 166,994
Idaho 1.1%         275,356
Idaho Housing & Finance Association
Series A 		5.000 08-15-36   250,000 275,356
Illinois 2.0%         516,071
Chicago Board of Education
Series A, GO 		5.875 12-01-47   250,000 261,862
Madison County Capital Resource Corp.
Colgate University Refunding Project 		5.000 07-01-36   225,000 254,209
Indiana 4.9%         1,251,892
City of Whiting
BP Products North America, Inc., Series A, AMT 		4.400 03-01-46   200,000 200,490
Indiana Finance Authority
Hendricks Regional Health 		5.250 03-01-54   250,000 251,248
Indiana Finance Authority
Ohio Valley Electric Corp. Project, Series A 		3.000 11-01-30   500,000 477,736
Indiana Finance Authority
Series C (C) 		5.000 02-01-36   100,000 111,085
Indianapolis Local Public Improvement Bond Bank
Convention Center Hotel, Series E 		5.500 03-01-38   200,000 211,333
Kentucky 0.5%         124,933
Stamford Housing Authority
Mozaic Concierge Living Project, Series A 		5.500 10-01-35   125,000 124,933
Louisiana 0.4%         111,391
State of Louisiana
Series B, GO (C) 		5.000 06-01-36   100,000 111,391
Massachusetts 4.1%         1,035,721
Commonwealth of Massachusetts
Series A, GO (C) 		5.000 04-01-45   100,000 105,698
Commonwealth of Massachusetts
Series D, GO 		4.000 11-01-37   5,000 4,967
Massachusetts Development Finance Agency
Bentley University 		5.000 07-01-44   200,000 202,606
Massachusetts Development Finance Agency
Gingercare Living Series B-1 (A) 		5.250 12-01-30   100,000 99,943
Massachusetts Development Finance Agency
Merrimack College 		5.125 07-01-44   200,000 195,868
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 20
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Massachusetts (continued)          
Massachusetts Development Finance Agency
Wellforce, Series C (B) 		5.000 10-01-27   250,000 $259,483
Massachusetts Development Finance Agency
Worcester Polytechnic Institute 		3.125 09-01-46   30,000 22,336
Massachusetts Development Finance Agency
Worcester Polytechnic Institute 		5.000 09-01-59   145,000 144,820
Michigan 2.8%         714,853
City of Grand Rapids, GO 5.000 04-01-46   100,000 104,010
Gerald R. Ford International Airport Authority, AMT 5.000 01-01-41   120,000 124,331
Michigan Finance Authority
McLaren Health Care, Series D 		1.200 10-15-38   300,000 277,519
Michigan State Hospital Finance Authority
Corewell Health, Series B-1 (C) 		5.000 08-15-55   100,000 106,619
Michigan Strategic Fund
I-75 Improvement Project, AMT 		5.000 12-31-32   100,000 102,374
Mississippi 0.5%         123,797
City of Gulfport
Memorial Hospital at Gulfport Project 		5.250 07-01-37   115,000 123,797
Missouri 1.8%         458,766
City of Kansas City Water Revenue
Series A 		3.500 12-01-37   105,000 94,628
I-470 Western Gateway Transportation Development District
Series A (A) 		4.500 12-01-29   100,000 98,313
Lee’s Summit Industrial Development Authority
John Knox Village, Series A 		5.000 08-15-51   25,000 20,856
St. Louis Land Clearance for Redevelopment Authority
Kiel Opera House Renovation Project 		3.875 10-01-35   100,000 95,238
Waynesville R-VI School District
Certificates of Participation 		5.000 04-15-36   140,000 149,731
Nevada 1.1%         279,866
County of Clark
Series C, GO 		3.000 07-01-35   45,000 40,678
Reno-Tahoe Airport Authority
Tahoe International Airport, AMT 		5.000 07-01-36   230,000 239,188
New Hampshire 0.3%         67,569
New Hampshire Health and Education Facilities Authority Act
Catholic Medical Center 		5.000 07-01-37   40,000 41,581
New Hampshire Health and Education Facilities Authority Act
Catholic Medical Center 		5.000 07-01-44   25,000 25,988
New York 5.6%         1,416,518
Dutchess County Local Development Corp.
Health Quest Systems, Inc. 		4.000 07-01-41   125,000 114,289
New York City Municipal Water Finance Authority
Fiscal 2025, Series DD (C) 		5.000 06-15-35   150,000 170,697
New York City Transitional Finance Authority
Fiscal 2025, Series D 		5.000 05-01-36   50,000 55,512
New York Transportation Development Corp.
Delta Air Lines, Inc., Laguardia Airport Terminals C&D Redevelopment, AMT 		4.375 10-01-45   250,000 226,265
New York Transportation Development Corp.
JFK International Airport Terminal One Project, AMT 		6.000 06-30-54   210,000 220,133
Onondaga Civic Development Corp.
Syracuse University Project 		5.000 12-01-40   100,000 108,389
Onondaga Civic Development Corp.
Syracuse University Project 		5.000 12-01-41   100,000 107,622
Port Authority New York and New Jersey
Series 248 (C) 		5.000 01-15-45   150,000 158,151
Troy Capital Resource Corp.
Rensselaer Polytechnic Institute, Series A 		5.000 09-01-39   250,000 255,460
21 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
North Carolina 4.3%         $1,103,444
City of Charlotte
Series B, GO 		5.000 07-01-36   100,000 111,205
Raleigh Durham Airport Authority
Series A, AMT 		5.000 05-01-33   300,000 313,507
State of North Carolina
Series C 		3.000 05-01-28   150,000 148,087
Western Carolina University
Series B 		5.000 04-01-32   500,000 530,645
North Dakota 1.0%         247,836
City of Bismarck
Series T, GO 		2.500 05-01-26   250,000 247,836
Ohio 2.4%         611,161
Ohio Air Quality Development Authority
Duke Energy Corp. Project, AMT 		4.250 11-01-39   300,000 301,527
Port of Greater Cincinnati Development Authority
Duke Energy Corp. (B) 		5.250 12-01-58   300,000 309,634
Oregon 0.9%         231,026
Oregon State Facilities Authority
Southern Oregon Goodwill Project 		5.000 12-01-30   225,000 231,026
Pennsylvania 6.6%         1,691,485
Allegheny County Airport Authority
Series A, AMT (B) 		5.250 01-01-44   250,000 259,177
Beaver County Industrial Development Authority
FirstEnergy Corp., Series B 		3.750 10-01-47   85,000 67,429
City of Philadelphia Airport Revenue
Series B, AMT 		5.000 07-01-29   500,000 510,726
Lancaster Industrial Development Authority
Landis Homes Retirement Community Project 		4.000 07-01-37   175,000 164,118
Lancaster Municipal Authority
Luthercare Project Series A 		5.000 12-01-45   45,000 44,291
Pennsylvania Higher Educational Facilities Authority
Thomas Jefferson University, Series B1 		5.250 11-01-44   100,000 104,028
Sports & Exhibition Authority of Pittsburgh & Allegheny County
Series A (B) 		5.000 02-01-31   500,000 541,716
Puerto Rico 0.5%         123,768
Puerto Rico Commonwealth
CW Guarantee Bond Claims, GO (D) 		2.781 11-01-43   207,143 123,768
South Carolina 1.2%         310,679
South Carolina Public Service Authority
Series A 		5.250 12-01-50   300,000 310,679
Tennessee 4.3%         1,104,188
Hamilton County & Chattanooga Sports Authority
Stadium Project, Series A 		5.750 12-01-50   200,000 221,536
Knoxville Tennessee, GO 3.000 05-01-35   120,000 109,191
Metropolitan Government Nashville & Davidson County Sports Authority
Stadium Project, Series A (B) 		5.250 07-01-53   250,000 260,614
Tennessee Energy Acquisition Corp.
Gas Project, Series A-1 		5.000 05-01-53   500,000 512,847
Texas 6.5%         1,661,421
Arlington Higher Education Finance Corp.
Leadership Prep School 		4.000 06-15-49   200,000 180,443
City of Pearland
Series C, GO 		5.000 09-01-44   135,000 142,167
Dallas Independent School District
Series A-6, GO 		5.000 02-15-55   250,000 270,602
Harris County Municipal Utility District No. 202, GO (B) 3.000 02-15-35   45,000 40,618
Harris County Municipal Utility District No. 24, GO (B) 3.000 03-01-32   100,000 96,969
Harris County Municipal Utility District No. 24, GO (B) 3.000 03-01-34   100,000 94,642
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 22
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Texas (continued)          
Harris County Municipal Utility District No. 489
Series A, GO (B) 		3.000 09-01-35   100,000 $89,698
New Hope Cultural Education Facilities Finance Corp.
Sanctuary LTC Project, Series A-1 		5.000 01-01-32   100,000 98,556
Port of Beaumont Navigation District
Jefferson Gulf Coast Energy, AMT (A) 		3.625 01-01-35   140,000 127,690
Texas Municipal Gas Acquisition & Supply Corp. IV
Series A 		5.500 01-01-54   250,000 263,786
Texas Private Activity Bond Surface Transportation Corp.
Bond Surface Transportation Corp., AMT 		5.500 06-30-43   250,000 256,250
Utah 4.5%         1,133,274
Mida Mountain Village Public Infrastructure District
Series 1 (A) 		5.125 06-15-54   500,000 453,095
Salt Lake City Airport Revenue
Series A, AMT 		5.000 07-01-31   475,000 487,922
Salt Lake City Airport Revenue
Series A, AMT 		5.250 07-01-36   180,000 192,257
Vermont 0.6%         148,053
Vermont Economic Development Authority
Casella Waste Systems, Inc. Project, Series A-2, AMT (A) 		4.375 06-01-52   150,000 148,053
Virginia 4.0%         1,010,709
City of Norfolk Water Revenue
Series 2025 (C) 		5.000 11-01-37   250,000 272,366
County of Arlington, GO 5.000 06-15-36   85,000 93,188
Isle Wight County Industrial Development Authority
Riverside Health System (B) 		5.250 07-01-43   250,000 268,929
Loudoun County Economic Development Authority
Public Facilities Project, Series A 		3.000 12-01-36   200,000 175,049
Virginia Beach Development Authority
Westminster-Cantebury on Chesapeake Bay, Series B-1 		6.250 09-01-30   200,000 201,177
Washington 3.1%         788,951
Metropolitan Washington Airports Authority Aviation Revenue
Series A, AMT 		5.000 10-01-30   200,000 212,355
Port of Seattle
Series C, AMT 		5.000 08-01-29   550,000 576,596
West Virginia 1.0%         246,705
West Virginia Economic Development Authority
Appalachian Power Amos Project, Series A, AMT 		1.000 01-01-41   250,000 246,705
Wisconsin 3.5%         889,863
County of Milwaukee Airport Revenue
Series A, AMT 		5.000 12-01-38   245,000 255,059
Public Finance Authority
A Challenge Foundation Academy (A) 		6.875 07-01-53   200,000 203,844
Public Finance Authority
Campus Real Estate Holding Corp. LLC Project, Series A (C) 		5.000 06-01-35   100,000 102,864
Public Finance Authority
KSU Bixby Real Estate Foundation LLC Project, Series A 		5.000 06-15-35   150,000 159,246
Public Finance Authority
Viticus Group Project Series A (A) 		4.000 12-01-41   100,000 83,665
Wisconsin Health & Educational Facilities Authority
Cedar Crest, Inc. Project, Series A 		5.125 04-01-57   100,000 85,185
    
23 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
    Yield (%)   Shares Value
Short-term investments 9.3%       $2,378,219
(Cost $2,378,019)          
Short-term funds 9.3%          
John Hancock Collateral Trust (E)   4.2081(F)   237,746 2,378,219
Total investments (Cost $26,606,684) 105.3%     $26,782,566
Other assets and liabilities, net (5.3%)         (1,353,619)
Total net assets 100.0%         $25,428,947
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
AMT Interest earned from these securities may be considered a tax preference item for purpose of the Federal Alternative Minimum Tax.
GO General Obligation
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(B) Bond is insured by one or more of the companies listed in the insurance coverage table below.
(C) Security purchased or sold on a when-issued or delayed-delivery basis.
(D) Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(F) The rate shown is the annualized seven-day yield as of 4-30-25.
    
Insurance Coverage As a % of total
investments
Assured Guaranty Municipal Corp. 6.1
Assured Guaranty Corp. 3.2
Build America Mutual Assurance Company 1.3
TOTAL 10.6
The fund had the following portfolio composition as a percentage of net assets on 4-30-25:
General obligation bonds 9.7%
Revenue bonds 86.3%
Other revenue 17.7%
Airport 14.5%
Health care 13.5%
Education 13.0%
Development 12.9%
Water and sewer 6.2%
Housing 3.1%
Utilities 2.4%
Transportation 1.0%
Tobacco 0.8%
Facilities 0.6%
Pollution 0.6%
Short-term investments and other 4.0%
TOTAL 100.0%
HIGH YIELD ETF
As of 4-30-25
  Rate (%) Maturity date   Par value^ Value
Corporate bonds 98.3%     $33,931,735
(Cost $34,268,293)          
Communication services 14.4%     4,968,713
Diversified telecommunication services 3.2%      
Cablevision Lightpath LLC (A) 3.875 09-15-27   200,000 188,745
Connect Finco SARL (A) 9.000 09-15-29   200,000 187,094
Consolidated Communications, Inc. (A) 6.500 10-01-28   30,000 29,451
Embarq LLC 7.995 06-01-36   123,000 55,350
Fibercop SpA (A) 6.000 09-30-34   200,000 184,694
Frontier Communications Holdings LLC (A) 6.000 01-15-30   66,000 66,234
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 24
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Communication services (continued)      
Diversified telecommunication services (continued)      
Frontier Communications Holdings LLC (A) 6.750 05-01-29   45,000 $45,189
Level 3 Financing, Inc. (A) 3.625 01-15-29   110,000 84,975
Level 3 Financing, Inc. (A) 10.500 05-15-30   108,000 116,755
Lumen Technologies, Inc. (A) 4.500 01-15-29   20,000 15,970
Qwest Corp. 7.250 09-15-25   23,000 22,910
Telesat Canada (A) 4.875 06-01-27   47,000 25,043
Telesat Canada (A) 6.500 10-15-27   40,000 16,251
Zayo Group Holdings, Inc. (A) 4.000 03-01-27   57,000 52,496
Zayo Group Holdings, Inc. (A) 6.125 03-01-28   26,000 21,140
Entertainment 0.9%      
AMC Entertainment Holdings, Inc. (A) 7.500 02-15-29   77,000 53,113
Cinemark USA, Inc. (A) 7.000 08-01-32   16,000 16,361
Live Nation Entertainment, Inc. (A) 4.750 10-15-27   77,000 75,368
Playtika Holding Corp. (A) 4.250 03-15-29   27,000 23,697
Univision Communications, Inc. (A) 8.500 07-31-31   164,000 154,861
Interactive media and services 0.5%      
Arches Buyer, Inc. (A) 4.250 06-01-28   22,000 20,689
GoTo Group, Inc. (A) 5.500 05-01-28   12,000 10,440
GoTo Group, Inc. (A) 5.500 05-01-28   15,000 5,625
Match Group Holdings II LLC (A) 5.625 02-15-29   105,000 102,454
ZoomInfo Technologies LLC (A) 3.875 02-01-29   20,000 18,378
Media 9.3%      
Altice France Holding SA (A) 6.000 02-15-28   200,000 62,031
Altice France SA (A) 5.500 01-15-28   230,000 190,416
AMC Networks, Inc. (A) 10.250 01-15-29   62,000 63,700
CCO Holdings LLC 4.500 05-01-32   275,000 244,332
CCO Holdings LLC (A) 4.750 02-01-32   231,000 209,046
CCO Holdings LLC (A) 7.375 03-01-31   202,000 208,050
Clear Channel Outdoor Holdings, Inc. (A) 5.125 08-15-27   39,000 37,919
Clear Channel Outdoor Holdings, Inc. (A) 7.750 04-15-28   44,000 36,520
CMG Media Corp. (A) 8.875 06-18-29   61,000 53,375
CSC Holdings LLC (A) 5.500 04-15-27   200,000 185,836
CSC Holdings LLC (A) 5.750 01-15-30   280,000 140,431
Directv Financing LLC (A) 5.875 08-15-27   78,000 75,385
Directv Financing LLC (A) 10.000 02-15-31   79,000 74,813
DISH DBS Corp. 5.125 06-01-29   127,000 79,516
DISH DBS Corp. (A) 5.250 12-01-26   71,000 64,609
DISH DBS Corp. 7.750 07-01-26   59,000 51,283
DISH Network Corp. (A) 11.750 11-15-27   81,000 85,127
Getty Images, Inc. (A) 9.750 03-01-27   11,000 10,865
Gray Media, Inc. (A) 7.000 05-15-27   73,000 71,018
Gray Media, Inc. (A) 10.500 07-15-29   35,000 35,927
iHeartCommunications, Inc. (A) 9.125 05-01-29   29,950 23,127
iHeartCommunications, Inc. (A) 10.875 05-01-30   28,000 11,760
Intelsat Jackson Holdings SA (A) 6.500 03-15-30   28,000 27,541
Lamar Media Corp. 4.000 02-15-30   78,000 72,879
Neptune Bidco US, Inc. (A) 9.290 04-15-29   157,000 139,730
Nexstar Media, Inc. (A) 5.625 07-15-27   54,000 53,495
Outfront Media Capital LLC (A) 4.625 03-15-30   49,000 45,281
Paramount Global (6.250% to 2-28-27, then 3 month LIBOR + 3.899%) 6.250 02-28-57   64,000 59,071
Radiate Holdco LLC (A) 4.500 09-15-26   16,000 13,804
Sabre GLBL, Inc. (A) 8.625 06-01-27   51,000 48,833
Sabre GLBL, Inc. (A) 10.750 11-15-29   40,000 38,100
Scripps Escrow II, Inc. (A) 3.875 01-15-29   16,000 12,192
Scripps Escrow II, Inc. (A) 5.375 01-15-31   26,000 14,801
25 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Communication services (continued)      
Media (continued)      
Scripps Escrow, Inc. (A) 5.875 07-15-27   24,000 $19,008
Sinclair Television Group, Inc. (A) 5.500 03-01-30   18,000 12,960
Sirius XM Radio LLC (A) 5.000 08-01-27   185,000 182,775
TEGNA, Inc. 5.000 09-15-29   105,000 97,805
Vmed O2 UK Financing I PLC (A) 4.750 07-15-31   200,000 175,775
VZ Secured Financing BV (A) 5.000 01-15-32   200,000 174,529
Wireless telecommunication services 0.5%      
Rogers Communications, Inc. (7.125% to 4-15-35, then 5 Year CMT + 2.620%) 7.125 04-15-55   53,000 52,808
Vodafone Group PLC (5.125% to 6-4-51, then 5 Year CMT + 3.073% to 6-4-71, then 5 Year CMT + 3.823%) 5.125 06-04-81   160,000 118,957
Consumer discretionary 15.3%     5,275,004
Automobile components 1.7%      
Adient Global Holdings, Ltd. (A) 8.250 04-15-31   44,000 43,558
American Axle & Manufacturing, Inc. 6.875 07-01-28   31,000 29,836
Clarios Global LP (A) 6.750 05-15-28   33,000 33,515
Clarios Global LP (A) 6.750 02-15-30   50,000 50,865
Dana, Inc. 5.625 06-15-28   37,000 36,691
Dealer Tire LLC (A) 8.000 02-01-28   16,000 15,521
Dornoch Debt Merger Sub, Inc. (A) 6.625 10-15-29   16,000 11,057
Garrett Motion Holdings, Inc. (A) 7.750 05-31-32   23,000 22,954
IHO Verwaltungs GmbH (6.375% Cash or 7.125% PIK) (A) 6.375 05-15-29   200,000 193,689
Phinia, Inc. (A) 6.625 10-15-32   31,000 30,418
Real Hero Merger Sub 2, Inc. (A) 6.250 02-01-29   22,000 16,412
Tenneco, Inc. (A) 8.000 11-17-28   50,000 47,766
The Goodyear Tire & Rubber Company 5.250 07-15-31   60,000 55,894
Automobiles 0.9%      
Nissan Motor Acceptance Company LLC (A) 1.850 09-16-26   61,000 57,577
Nissan Motor Acceptance Company LLC (A) 2.450 09-15-28   57,000 50,369
Nissan Motor Company, Ltd. (A) 4.345 09-17-27   200,000 191,881
Thor Industries, Inc. (A) 4.000 10-15-29   25,000 22,484
Broadline retail 0.3%      
Kohl’s Corp. 5.550 07-17-45   16,000 7,602
Macy’s Retail Holdings LLC (A) 6.700 07-15-34   23,000 19,261
Nordstrom, Inc. 4.000 03-15-27   24,000 22,921
Nordstrom, Inc. 5.000 01-15-44   13,000 9,106
QVC, Inc. (A) 6.875 04-15-29   13,000 8,627
Wand NewCo 3, Inc. (A) 7.625 01-30-32   26,000 26,785
Distributors 0.3%      
American Builders & Contractors Supply Company, Inc. (A) 3.875 11-15-29   20,000 18,462
American Builders & Contractors Supply Company, Inc. (A) 4.000 01-15-28   38,000 36,673
BCPE Empire Holdings, Inc. (A) 7.625 05-01-27   31,000 31,000
Diversified consumer services 0.3%      
Adtalem Global Education, Inc. (A) 5.500 03-01-28   99,000 97,852
StoneMor, Inc. (A) 8.500 05-15-29   19,000 17,083
Hotels, restaurants and leisure 6.8%      
Affinity Interactive (A) 6.875 12-15-27   36,000 25,811
Caesars Entertainment, Inc. (A) 6.000 10-15-32   37,000 34,882
Caesars Entertainment, Inc. (A) 7.000 02-15-30   151,000 154,570
CCM Merger, Inc. (A) 6.375 05-01-26   52,000 52,061
Fertitta Entertainment LLC (A) 4.625 01-15-29   62,000 57,436
Fertitta Entertainment LLC (A) 6.750 01-15-30   21,000 18,373
Hilton Domestic Operating Company, Inc. (A) 3.750 05-01-29   221,000 207,781
Liberty Interactive LLC 8.500 07-15-29   28,000 10,796
Light & Wonder International, Inc. (A) 7.250 11-15-29   67,000 68,307
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 26
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Consumer discretionary (continued)      
Hotels, restaurants and leisure (continued)      
Lindblad Expeditions LLC (A) 6.750 02-15-27   52,000 $51,834
MGM Resorts International 6.500 04-15-32   87,000 85,731
Midwest Gaming Borrower LLC (A) 4.875 05-01-29   36,000 33,986
Motion Bondco DAC (A) 6.625 11-15-27   200,000 189,141
NCL Corp., Ltd. (A) 6.250 03-01-30   171,000 166,802
New Red Finance, Inc. (A) 4.000 10-15-30   36,000 32,761
New Red Finance, Inc. (A) 4.375 01-15-28   83,000 80,352
New Red Finance, Inc. (A) 6.125 06-15-29   49,000 49,775
Raising Cane’s Restaurants LLC (A) 9.375 05-01-29   12,000 12,717
Resorts World Las Vegas LLC (A) 4.625 04-16-29   200,000 172,064
Royal Caribbean Cruises, Ltd. (A) 5.500 04-01-28   215,000 214,779
Royal Caribbean Cruises, Ltd. 7.500 10-15-27   48,000 50,548
Scientific Games Holdings LP (A) 6.625 03-01-30   61,000 58,059
Station Casinos LLC (A) 4.625 12-01-31   41,000 37,063
Travel + Leisure Company (A) 4.625 03-01-30   29,000 27,006
Viking Cruises, Ltd. (A) 9.125 07-15-31   174,000 186,040
Wynn Resorts Finance LLC (A) 5.125 10-01-29   159,000 153,297
Yum! Brands, Inc. (A) 4.750 01-15-30   70,000 67,939
Yum! Brands, Inc. 6.875 11-15-37   32,000 33,252
Household durables 1.7%      
Adams Homes, Inc. (A) 9.250 10-15-28   20,000 20,093
Ashton Woods USA LLC (A) 6.625 01-15-28   37,000 36,931
Beazer Homes USA, Inc. (A) 7.500 03-15-31   29,000 28,019
Brookfield Residential Properties, Inc. (A) 5.000 06-15-29   39,000 34,714
Century Communities, Inc. (A) 3.875 08-15-29   19,000 16,948
Gates Corp. (A) 6.875 07-01-29   51,000 51,746
K Hovnanian Enterprises, Inc. (A) 11.750 09-30-29   16,000 16,952
KB Home 4.000 06-15-31   115,000 103,641
LGI Homes, Inc. (A) 7.000 11-15-32   29,000 26,753
M/I Homes, Inc. 3.950 02-15-30   62,000 56,287
Newell Brands, Inc. 6.625 09-15-29   37,000 34,709
Newell Brands, Inc. 7.000 04-01-46   45,000 34,770
SWF Holdings I Corp. (A) 6.500 10-01-29   11,000 4,263
Taylor Morrison Communities, Inc. (A) 5.750 01-15-28   110,000 110,050
TopBuild Corp. (A) 3.625 03-15-29   19,000 17,662
Leisure products 0.0%      
MajorDrive Holdings IV LLC (A) 6.375 06-01-29   22,000 16,184
Specialty retail 3.3%      
Advance Auto Parts, Inc. 1.750 10-01-27   92,000 82,709
Advance Auto Parts, Inc. 3.500 03-15-32   13,000 10,864
Asbury Automotive Group, Inc. (A) 5.000 02-15-32   72,000 65,616
Bath & Body Works, Inc. 6.950 03-01-33   75,000 74,266
Bath & Body Works, Inc. 7.500 06-15-29   33,000 33,647
BCPE Ulysses Intermediate, Inc. (7.750% Cash or 8.500% PIK) (A) 7.750 04-01-27   25,000 24,254
Carvana Company (9.000% Cash or 13.000% PIK) (A) 9.000 06-01-30   41,300 43,730
Carvana Company (9.000% Cash or 14.000% PIK) (A) 9.000 06-01-31   55,481 62,447
Cougar JV Subsidiary LLC (A) 8.000 05-15-32   34,000 35,256
Lithia Motors, Inc. (A) 4.625 12-15-27   69,000 66,998
Mavis Tire Express Services Topco Corp. (A) 6.500 05-15-29   47,000 43,337
Penske Automotive Group, Inc. 3.750 06-15-29   13,000 12,053
PetSmart, Inc. (A) 4.750 02-15-28   250,000 238,938
Saks Global Enterprises LLC (A) 11.000 12-15-29   57,000 34,573
Sally Holdings LLC 6.750 03-01-32   51,000 51,370
Sonic Automotive, Inc. (A) 4.875 11-15-31   70,000 63,908
Specialty Building Products Holdings LLC (A) 7.750 10-15-29   22,000 20,672
27 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Consumer discretionary (continued)      
Specialty retail (continued)      
Staples, Inc. (A) 10.750 09-01-29   132,000 $114,367
The Michaels Companies, Inc. (A) 7.875 05-01-29   46,000 15,809
Valvoline, Inc. (A) 3.625 06-15-31   15,000 13,137
Victoria’s Secret & Company (A) 4.625 07-15-29   21,000 18,309
Consumer staples 4.1%     1,432,856
Beverages 0.1%      
Primo Water Holdings, Inc. (A) 4.375 04-30-29   29,000 27,516
Consumer staples distribution and retail 2.0%      
Albertsons Companies, Inc. (A) 4.875 02-15-30   71,000 68,589
Albertsons Companies, Inc. (A) 5.875 02-15-28   118,000 117,911
Arko Corp. (A) 5.125 11-15-29   13,000 10,405
C&S Group Enterprises LLC (A) 5.000 12-15-28   8,000 6,690
KeHE Distributors LLC (A) 9.000 02-15-29   27,000 27,621
Performance Food Group, Inc. (A) 4.250 08-01-29   53,000 50,162
Performance Food Group, Inc. (A) 5.500 10-15-27   33,000 32,730
Safeway, Inc. 7.250 02-01-31   33,000 33,919
United Natural Foods, Inc. (A) 6.750 10-15-28   13,000 12,764
US Foods, Inc. (A) 7.250 01-15-32   146,000 152,732
Walgreens Boots Alliance, Inc. 3.450 06-01-26   53,000 51,796
Walgreens Boots Alliance, Inc. 4.100 04-15-50   41,000 35,807
Walgreens Boots Alliance, Inc. 4.500 11-18-34   86,000 80,955
Walgreens Boots Alliance, Inc. 8.125 08-15-29   14,000 14,566
Food products 1.2%      
B&G Foods, Inc. 5.250 09-15-27   10,000 9,373
B&G Foods, Inc. (A) 8.000 09-15-28   22,000 21,827
Darling Ingredients, Inc. (A) 6.000 06-15-30   33,000 32,907
Lamb Weston Holdings, Inc. (A) 4.375 01-31-32   124,000 113,599
Pilgrim’s Pride Corp. 3.500 03-01-32   61,000 54,127
Post Holdings, Inc. (A) 4.625 04-15-30   111,000 104,629
Post Holdings, Inc. (A) 6.250 02-15-32   56,000 56,434
TreeHouse Foods, Inc. 4.000 09-01-28   18,000 16,149
Viking Baked Goods Acquisition Corp. (A) 8.625 11-01-31   16,000 15,198
Household products 0.3%      
Energizer Holdings, Inc. (A) 4.750 06-15-28   59,000 56,845
Kronos Acquisition Holdings, Inc. (A) 10.750 06-30-32   71,000 42,543
Personal care products 0.5%      
HLF Financing Sarl LLC (A) 4.875 06-01-29   10,000 7,637
HLF Financing Sarl LLC (A) 12.250 04-15-29   21,000 22,283
Perrigo Finance Unlimited Company 4.900 12-15-44   200,000 155,142
Energy 10.9%     3,747,150
Energy equipment and services 1.7%      
Archrock Partners LP (A) 6.625 09-01-32   50,000 49,719
Nabors Industries, Inc. (A) 7.375 05-15-27   139,000 131,062
Nabors Industries, Inc. (A) 8.875 08-15-31   62,000 42,051
Nabors Industries, Ltd. (A) 7.500 01-15-28   43,000 34,219
Transocean, Inc. (A) 8.500 05-15-31   91,000 70,347
Transocean, Inc. (A) 8.750 02-15-30   45,600 44,574
Valaris, Ltd. (A) 8.375 04-30-30   69,000 64,652
Weatherford International, Ltd. (A) 8.625 04-30-30   140,000 138,769
Oil, gas and consumable fuels 9.2%      
Baytex Energy Corp. (A) 8.500 04-30-30   56,000 52,037
Buckeye Partners LP 5.600 10-15-44   23,000 18,844
CITGO Petroleum Corp. (A) 6.375 06-15-26   153,000 152,173
CITGO Petroleum Corp. (A) 8.375 01-15-29   75,000 75,036
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 28
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Energy (continued)      
Oil, gas and consumable fuels (continued)      
Civitas Resources, Inc. (A) 8.750 07-01-31   194,000 $184,402
Comstock Resources, Inc. (A) 6.750 03-01-29   81,000 76,753
CQP Holdco LP (A) 5.500 06-15-31   250,000 239,908
Encino Acquisition Partners Holdings LLC (A) 8.500 05-01-28   54,000 54,038
Energy Transfer LP (7.125% to 10-1-29, then 5 Year CMT + 2.829%) 7.125 10-01-54   31,000 30,782
Genesis Energy LP 8.875 04-15-30   116,000 118,369
Hess Midstream Operations LP (A) 6.500 06-01-29   143,000 145,226
Hilcorp Energy I LP (A) 6.000 02-01-31   108,000 96,938
Hilcorp Energy I LP (A) 8.375 11-01-33   116,000 110,311
Kinetik Holdings LP (A) 6.625 12-15-28   41,000 41,300
Long Ridge Energy LLC (A) 8.750 02-15-32   23,000 21,901
Murphy Oil Corp. 5.875 12-01-42   52,000 38,120
New Fortress Energy, Inc. (A) 6.500 09-30-26   85,000 69,628
NGL Energy Operating LLC (A) 8.125 02-15-29   62,000 58,268
NGL Energy Operating LLC (A) 8.375 02-15-32   71,000 64,733
Northriver Midstream Finance LP (A) 6.750 07-15-32   58,000 57,635
Permian Resources Operating LLC (A) 7.000 01-15-32   199,000 200,331
Permian Resources Operating LLC (A) 8.000 04-15-27   33,000 33,580
Prairie Acquiror LP (A) 9.000 08-01-29   15,000 15,116
Rockies Express Pipeline LLC (A) 3.600 05-15-25   67,000 66,925
SM Energy Company (A) 6.750 08-01-29   69,000 64,420
SM Energy Company (A) 7.000 08-01-32   35,000 32,266
Summit Midstream Holdings LLC (A) 8.625 10-31-29   33,000 32,510
Sunoco LP (A) 7.000 09-15-28   50,000 51,210
Sunoco LP (A) 7.250 05-01-32   34,000 35,259
Tallgrass Energy Partners LP (A) 6.000 12-31-30   99,000 92,183
Transocean Aquila, Ltd. (A) 8.000 09-30-28   108,446 106,910
Venture Global Calcasieu Pass LLC (A) 3.875 11-01-33   197,000 166,159
Venture Global Calcasieu Pass LLC (A) 6.250 01-15-30   48,000 48,013
Venture Global LNG, Inc. (9.000% to 9-30-29, then 5 Year CMT + 5.440%) (A)(B) 9.000 09-30-29   127,000 109,161
Venture Global LNG, Inc. (A) 9.875 02-01-32   243,000 246,733
Vital Energy, Inc. (A) 7.750 07-31-29   45,000 37,945
Vital Energy, Inc. (A) 7.875 04-15-32   163,000 126,634
Financials 11.8%     4,076,341
Banks 0.6%      
Intesa Sanpaolo SpA (4.950% to 6-1-41, then 1 Year CMT + 2.750%) (A) 4.950 06-01-42   200,000 155,049
Park River Holdings, Inc. (A) 6.750 08-01-29   16,000 12,649
Valley National Bancorp (3.000% to 6-15-26, then 3 month CME Term SOFR + 2.360%) 3.000 06-15-31   43,000 39,055
Capital markets 2.7%      
AG TTMT Escrow Issuer LLC (A) 8.625 09-30-27   77,000 79,316
Aretec Group, Inc. (A) 7.500 04-01-29   52,000 50,841
Boost Newco Borrower LLC (A) 7.500 01-15-31   200,000 211,051
Coinbase Global, Inc. (A) 3.375 10-01-28   97,000 89,278
Focus Financial Partners LLC (A) 6.750 09-15-31   38,000 38,227
Hightower Holding LLC (A) 9.125 01-31-30   51,000 52,148
Jane Street Group (A) 6.750 05-01-33   90,000 90,424
Jane Street Group (A) 7.125 04-30-31   133,000 137,166
Jefferies Finance LLC (A) 5.000 08-15-28   200,000 186,100
Consumer finance 1.5%      
Bread Financial Holdings, Inc. (A) 9.750 03-15-29   39,000 41,029
Credit Acceptance Corp. (A) 6.625 03-15-30   97,000 95,177
FirstCash, Inc. (A) 5.625 01-01-30   20,000 19,664
Navient Corp. 6.750 06-15-26   120,000 121,096
OneMain Finance Corp. 6.750 03-15-32   175,000 171,645
PRA Group, Inc. (A) 5.000 10-01-29   30,000 27,333
29 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Financials (continued)      
Consumer finance (continued)      
Synchrony Financial 7.250 02-02-33   27,000 $27,533
Financial services 2.7%      
Block, Inc. (A) 6.500 05-15-32   85,000 86,724
CI Financial Corp. (A) 7.500 05-30-29   55,000 57,396
Cobra AcquisitionCo LLC (A) 12.250 11-01-29   17,000 16,468
Compass Group Diversified Holdings LLC (A) 5.250 04-15-29   36,000 33,960
Freedom Mortgage Corp. (A) 7.625 05-01-26   50,000 49,866
Freedom Mortgage Corp. (A) 12.250 10-01-30   155,000 170,543
Icahn Enterprises LP 5.250 05-15-27   75,000 71,119
Mobius Merger Sub, Inc. (A) 9.000 06-01-30   11,000 9,653
Nationstar Mortgage Holdings, Inc. (A) 5.125 12-15-30   57,000 56,929
Nationstar Mortgage Holdings, Inc. (A) 5.500 08-15-28   87,000 86,473
PennyMac Financial Services, Inc. (A) 7.125 11-15-30   57,000 57,965
Prospect Capital Corp. 3.364 11-15-26   14,000 13,109
Rocket Mortgage LLC (A) 2.875 10-15-26   146,000 140,902
Rocket Mortgage LLC (A) 3.875 03-01-31   58,000 52,427
VFH Parent LLC (A) 7.500 06-15-31   42,000 43,111
Insurance 3.5%      
Acrisure LLC (A) 6.000 08-01-29   72,000 68,212
Acrisure LLC (A) 7.500 11-06-30   74,000 75,385
Acrisure LLC (A) 8.250 02-01-29   53,000 54,228
Alliant Holdings Intermediate LLC (A) 5.875 11-01-29   109,000 105,222
Alliant Holdings Intermediate LLC (A) 6.750 10-15-27   175,000 173,742
AmWINS Group, Inc. (A) 4.875 06-30-29   132,000 126,024
Assurant, Inc. (7.000% to 3-27-28, then 3 month LIBOR + 4.135%) 7.000 03-27-48   17,000 16,918
Augustar Life Insurance Company (A) 6.875 06-15-42   96,000 87,371
Constellation Insurance, Inc. (A) 6.625 05-01-31   34,000 33,872
Global Atlantic Financial Company (4.700% to 10-15-26, then 5 Year CMT + 3.796%) (A) 4.700 10-15-51   128,000 121,646
HUB International, Ltd. (A) 7.375 01-31-32   151,000 155,567
Liberty Mutual Group, Inc. (4.125% to 12-15-26, then 5 Year CMT + 3.315%) (A) 4.125 12-15-51   57,000 53,830
Panther Escrow Issuer LLC (A) 7.125 06-01-31   139,000 142,405
Mortgage real estate investment trusts 0.8%      
Apollo Commercial Real Estate Finance, Inc. (A) 4.625 06-15-29   26,000 24,013
Ladder Capital Finance Holdings LLLP (A) 4.250 02-01-27   23,000 22,407
Ladder Capital Finance Holdings LLLP (A) 4.750 06-15-29   41,000 39,246
Rithm Capital Corp. (A) 8.000 04-01-29   54,000 53,912
Starwood Property Trust, Inc. (A) 3.625 07-15-26   47,000 45,879
Starwood Property Trust, Inc. (A) 7.250 04-01-29   82,000 85,036
Health care 8.3%     2,868,285
Biotechnology 0.3%      
Select Medical Corp. (A) 6.250 12-01-32   72,000 71,493
Star Parent, Inc. (A) 9.000 10-01-30   33,000 33,390
Health care equipment and supplies 1.4%      
Bausch + Lomb Corp. (A) 8.375 10-01-28   31,000 32,203
Embecta Corp. (A) 5.000 02-15-30   12,000 10,800
Insulet Corp. (A) 6.500 04-01-33   28,000 28,566
Medline Borrower LP (A) 3.875 04-01-29   137,000 127,796
Medline Borrower LP (A) 5.250 10-01-29   217,000 206,071
Medline Borrower LP (A) 6.250 04-01-29   36,000 36,276
Sotera Health Holdings LLC (A) 7.375 06-01-31   43,000 44,103
Health care providers and services 4.3%      
Acadia Healthcare Company, Inc. (A) 5.000 04-15-29   40,000 37,814
AdaptHealth LLC (A) 5.125 03-01-30   127,000 113,526
AMN Healthcare, Inc. (A) 4.625 10-01-27   39,000 37,370
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 30
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Health care (continued)      
Health care providers and services (continued)      
AthenaHealth Group, Inc. (A) 6.500 02-15-30   58,000 $55,439
Community Health Systems, Inc. (A) 5.625 03-15-27   139,000 135,555
Community Health Systems, Inc. (A) 6.875 04-15-29   45,000 32,783
Community Health Systems, Inc. (A) 10.875 01-15-32   37,000 38,203
Concentra Health Services, Inc. (A) 6.875 07-15-32   34,000 34,809
DaVita, Inc. (A) 3.750 02-15-31   89,000 78,246
DaVita, Inc. (A) 6.875 09-01-32   77,000 77,746
Global Medical Response, Inc. (8.750% Cash and 0.750% PIK) (A) 9.500 10-31-28   59,404 59,404
LifePoint Health, Inc. (A) 9.875 08-15-30   89,000 94,671
Molina Healthcare, Inc. (A) 3.875 11-15-30   60,000 54,088
Molina Healthcare, Inc. (A) 6.250 01-15-33   35,000 34,737
MPH Acquisition Holdings LLC (A) 5.750 12-31-30   21,030 16,298
MPH Acquisition Holdings LLC (6.500% Cash and 5.000% PIK) (A) 11.500 12-31-30   19,983 18,384
Pediatrix Medical Group, Inc. (A) 5.375 02-15-30   36,000 34,717
Prime Healthcare Services, Inc. (A) 9.375 09-01-29   33,000 31,462
Radiology Partners, Inc. (4.275% Cash and 3.500% PIK) (A) 7.775 01-31-29   28,961 28,337
Radiology Partners, Inc. (0.000% Cash and 9.781% PIK) (A) 9.781 02-15-30   19,075 17,883
Surgery Center Holdings, Inc. (A) 7.250 04-15-32   48,000 47,891
Team Health Holdings, Inc. (9.000% Cash and 4.500% PIK) (A) 13.500 06-30-28   27,675 29,681
Tenet Healthcare Corp. 4.375 01-15-30   146,000 138,364
Tenet Healthcare Corp. 4.625 06-15-28   146,000 142,184
Tenet Healthcare Corp. 6.750 05-15-31   70,000 71,756
US Renal Care, Inc. (A) 10.625 06-28-28   32,000 26,880
Pharmaceuticals 2.3%      
Bausch Health Americas, Inc. (A) 8.500 01-31-27   29,000 27,550
Bausch Health Americas, Inc. (A) 9.250 04-01-26   21,000 20,480
Bausch Health Companies, Inc. (A) 6.250 02-15-29   88,000 57,640
Bausch Health Companies, Inc. (A) 10.000 04-15-32   250,000 244,794
Bausch Health Companies, Inc. (A) 11.000 09-30-28   94,000 88,398
Endo Finance Holdings, Inc. (A) 8.500 04-15-31   37,000 38,470
IQVIA, Inc. (A) 5.000 10-15-26   200,000 198,699
Mallinckrodt International Finance SA (A) 14.750 11-14-28   64,000 66,949
Teva Pharmaceutical Finance Netherlands III BV 3.150 10-01-26   48,000 46,379
Industrials 13.1%     4,535,985
Aerospace and defense 2.4%      
Bombardier, Inc. (A) 8.750 11-15-30   117,000 125,367
Goat Holdco LLC (A) 6.750 02-01-32   26,000 25,415
Spirit AeroSystems, Inc. 4.600 06-15-28   37,000 35,768
Spirit AeroSystems, Inc. (A) 9.750 11-15-30   155,000 171,571
TransDigm, Inc. 4.625 01-15-29   188,000 180,824
TransDigm, Inc. (A) 6.875 12-15-30   277,000 285,409
Air freight and logistics 0.2%      
Rand Parent LLC (A) 8.500 02-15-30   49,000 45,565
Stonepeak Nile Parent LLC (A) 7.250 03-15-32   32,000 32,488
Building products 1.2%      
ACProducts Holdings, Inc. (A) 6.375 05-15-29   10,000 3,500
Advanced Drainage Systems, Inc. (A) 5.000 09-30-27   45,000 44,502
Builders FirstSource, Inc. (A) 5.000 03-01-30   147,000 141,040
Camelot Return Merger Sub, Inc. (A) 8.750 08-01-28   39,000 33,821
FXI Holdings, Inc. (A) 12.250 11-15-26   13,000 11,486
JELD-WEN, Inc. (A) 7.000 09-01-32   26,000 22,834
Masterbrand, Inc. (A) 7.000 07-15-32   23,000 23,056
Miter Brands Acquisition Holdco, Inc. (A) 6.750 04-01-32   15,000 15,011
Resideo Funding, Inc. (A) 4.000 09-01-29   39,000 35,898
Resideo Funding, Inc. (A) 6.500 07-15-32   41,000 40,672
31 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Industrials (continued)      
Building products (continued)      
Signal Parent, Inc. (A) 6.125 04-01-29   13,000 $6,979
Wilsonart LLC (A) 11.000 08-15-32   22,000 19,915
Commercial services and supplies 1.7%      
Enviri Corp. (A) 5.750 07-31-27   22,000 21,204
Garda World Security Corp. (A) 6.000 06-01-29   36,000 33,673
Garda World Security Corp. (A) 7.750 02-15-28   44,000 45,419
GFL Environmental, Inc. (A) 4.375 08-15-29   94,000 89,718
GFL Environmental, Inc. (A) 6.750 01-15-31   104,000 108,108
Illuminate Buyer LLC (A) 9.000 07-01-28   41,000 41,042
Matthews International Corp. (A) 8.625 10-01-27   17,000 17,625
Prime Security Services Borrower LLC (A) 3.375 08-31-27   92,000 87,748
The ADT Security Corp. (A) 4.125 08-01-29   37,000 34,914
The Geo Group, Inc. 8.625 04-15-29   76,000 79,895
The Geo Group, Inc. 10.250 04-15-31   35,000 38,243
Construction and engineering 0.8%      
APi Group DE, Inc. (A) 4.125 07-15-29   38,000 35,480
Brand Industrial Services, Inc. (A) 10.375 08-01-30   91,000 86,443
Brundage-Bone Concrete Pumping Holdings, Inc. (A) 7.500 02-01-32   28,000 27,323
Foundation Building Materials, Inc. (A) 6.000 03-01-29   13,000 10,958
Great Lakes Dredge & Dock Corp. (A) 5.250 06-01-29   56,000 51,100
New Enterprise Stone & Lime Company, Inc. (A) 5.250 07-15-28   18,000 17,473
Tutor Perini Corp. (A) 11.875 04-30-29   11,000 11,866
VM Consolidated, Inc. (A) 5.500 04-15-29   38,000 36,640
Electrical equipment 0.8%      
EMRLD Borrower LP (A) 6.625 12-15-30   62,000 62,875
EMRLD Borrower LP (A) 6.750 07-15-31   55,000 56,087
Sensata Technologies, Inc. (A) 4.375 02-15-30   147,000 135,552
Vertiv Group Corp. (A) 4.125 11-15-28   31,000 29,938
Ground transportation 0.3%      
Avis Budget Car Rental LLC (A) 5.375 03-01-29   59,000 54,306
Avis Budget Car Rental LLC (A) 5.750 07-15-27   1,000 970
The Hertz Corp. (A) 4.625 12-01-26   54,000 45,098
The Hertz Corp. (A) 12.625 07-15-29   8,000 7,781
Machinery 1.8%      
Allison Transmission, Inc. (A) 4.750 10-01-27   69,000 67,726
Chart Industries, Inc. (A) 7.500 01-01-30   31,000 32,162
Esab Corp. (A) 6.250 04-15-29   21,000 21,307
GrafTech Finance, Inc. (A) 4.625 12-23-29   100,000 58,675
Hillenbrand, Inc. 6.250 02-15-29   33,000 32,807
Husky Injection Molding Systems, Ltd. (A) 9.000 02-15-29   20,000 20,303
JB Poindexter & Company, Inc. (A) 8.750 12-15-31   35,000 35,188
Mueller Water Products, Inc. (A) 4.000 06-15-29   19,000 17,839
Park-Ohio Industries, Inc. 6.625 04-15-27   28,000 27,059
SPX FLOW, Inc. (A) 8.750 04-01-30   23,000 23,191
Terex Corp. (A) 6.250 10-15-32   33,000 31,582
The Manitowoc Company, Inc. (A) 9.250 10-01-31   23,000 23,316
Titan International, Inc. 7.000 04-30-28   21,000 20,560
TK Elevator US Newco, Inc. (A) 5.250 07-15-27   200,000 196,939
Trinity Industries, Inc. (A) 7.750 07-15-28   25,000 25,778
Marine transportation 0.3%      
Danaos Corp. (A) 8.500 03-01-28   100,000 101,293
Passenger airlines 1.2%      
Air Canada (A) 3.875 08-15-26   33,000 32,381
American Airlines, Inc. (A) 5.750 04-20-29   182,000 176,522
Avianca Midco 2 PLC (A) 9.000 12-01-28   20,000 17,950
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 32
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Industrials (continued)      
Passenger airlines (continued)      
JetBlue Airways Corp. (A) 9.875 09-20-31   31,000 $28,555
Spirit Loyalty Cayman, Ltd. (8.000% Cash and 4.000% PIK) (A) 12.000 03-06-30   13,000 10,262
United Airlines, Inc. (A) 4.625 04-15-29   110,000 103,324
VistaJet Malta Finance PLC (A) 9.500 06-01-28   27,000 26,373
Professional services 0.8%      
Amentum Holdings, Inc. (A) 7.250 08-01-32   18,000 18,310
CoreLogic, Inc. (A) 4.500 05-01-28   49,000 46,370
KBR, Inc. (A) 4.750 09-30-28   20,000 18,961
SS&C Technologies, Inc. (A) 5.500 09-30-27   70,000 69,655
SS&C Technologies, Inc. (A) 6.500 06-01-32   123,000 124,690
Trading companies and distributors 1.3%      
Beacon Roofing Supply, Inc. (A) 6.750 04-30-32   35,000 35,091
BlueLinx Holdings, Inc. (A) 6.000 11-15-29   14,000 13,312
Fortress Transportation and Infrastructure Investors LLC (A) 7.875 12-01-30   85,000 88,863
GYP Holdings III Corp. (A) 4.625 05-01-29   15,000 14,106
United Rentals North America, Inc. 3.750 01-15-32   295,000 263,047
WESCO Distribution, Inc. (A) 6.375 03-15-29   44,000 44,581
Transportation infrastructure 0.3%      
Imola Merger Corp. (A) 4.750 05-15-29   104,000 99,307
Information technology 4.7%     1,619,632
Communications equipment 1.3%      
Ciena Corp. (A) 4.000 01-31-30   27,000 25,005
CommScope LLC (A) 8.250 03-01-27   38,000 34,613
CommScope LLC (A) 9.500 12-15-31   26,000 26,597
CommScope, Inc. (A) 4.750 09-01-29   37,000 32,657
EchoStar Corp. (0.000% Cash and 6.750% PIK) 6.750 11-30-30   18,000 16,777
EchoStar Corp. 10.750 11-30-29   143,000 151,227
Hughes Satellite Systems Corp. 5.250 08-01-26   70,000 65,254
Hughes Satellite Systems Corp. 6.625 08-01-26   40,000 32,483
Viasat, Inc. (A) 5.625 04-15-27   28,000 27,430
Viasat, Inc. (A) 7.500 05-30-31   41,000 31,204
Electronic equipment, instruments and components 0.0%      
Zebra Technologies Corp. (A) 6.500 06-01-32   12,000 12,056
IT services 0.4%      
Ahead DB Holdings LLC (A) 6.625 05-01-28   24,000 23,206
Fortress Intermediate 3, Inc. (A) 7.500 06-01-31   22,000 22,489
Go Daddy Operating Company LLC (A) 3.500 03-01-29   48,000 44,713
Go Daddy Operating Company LLC (A) 5.250 12-01-27   33,000 32,709
Newfold Digital Holdings Group, Inc. (A) 6.000 02-15-29   12,000 7,011
Newfold Digital Holdings Group, Inc. (A) 11.750 10-15-28   9,000 4,770
Science Applications International Corp. (A) 4.875 04-01-28   17,000 16,529
Semiconductors and semiconductor equipment 0.3%      
Entegris, Inc. (A) 4.750 04-15-29   109,000 106,071
Software 2.2%      
Capstone Borrower, Inc. (A) 8.000 06-15-30   15,000 15,324
Cloud Software Group, Inc. (A) 6.500 03-31-29   286,000 286,103
Cloud Software Group, Inc. (A) 9.000 09-30-29   81,000 81,602
Ellucian Holdings, Inc. (A) 6.500 12-01-29   54,000 53,947
Gen Digital, Inc. (A) 6.250 04-01-33   44,000 43,881
McAfee Corp. (A) 7.375 02-15-30   156,000 134,751
Open Text Holdings, Inc. (A) 4.125 12-01-31   34,000 30,406
Rocket Software, Inc. (A) 6.500 02-15-29   16,000 15,219
UKG, Inc. (A) 6.875 02-01-31   80,000 82,304
33 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Information technology (continued)      
Technology hardware, storage and peripherals 0.5%      
NCR Voyix Corp. (A) 5.000 10-01-28   48,000 $46,524
Seagate HDD Cayman 4.125 01-15-31   114,000 104,116
Western Digital Corp. 4.750 02-15-26   5,000 4,967
Xerox Holdings Corp. (A) 5.500 08-15-28   12,000 7,687
Materials 9.4%     3,242,474
Chemicals 3.0%      
Celanese US Holdings LLC 6.500 04-15-30   70,000 68,399
Celanese US Holdings LLC 6.800 11-15-30   51,000 50,982
Consolidated Energy Finance SA (A) 5.625 10-15-28   150,000 116,736
CVR Partners LP (A) 6.125 06-15-28   14,000 13,531
INEOS Quattro Finance 2 PLC (A) 9.625 03-15-29   200,000 192,500
Ingevity Corp. (A) 3.875 11-01-28   15,000 13,860
LSB Industries, Inc. (A) 6.250 10-15-28   90,000 84,230
Methanex Corp. 5.650 12-01-44   32,000 24,521
Minerals Technologies, Inc. (A) 5.000 07-01-28   26,000 25,096
NOVA Chemicals Corp. (A) 7.000 12-01-31   54,000 55,813
NOVA Chemicals Corp. (A) 9.000 02-15-30   16,000 17,095
Nufarm Australia, Ltd. (A) 5.000 01-27-30   46,000 42,604
SCIH Salt Holdings, Inc. (A) 4.875 05-01-28   29,000 27,782
SK Invictus Intermediate II Sarl (A) 5.000 10-30-29   45,000 42,245
The Chemours Company 5.375 05-15-27   29,000 28,241
The Chemours Company (A) 5.750 11-15-28   44,000 39,856
The Scotts Miracle-Gro Company 4.500 10-15-29   21,000 19,586
Tronox, Inc. (A) 4.625 03-15-29   71,000 57,473
WR Grace Holdings LLC (A) 4.875 06-15-27   63,000 60,990
WR Grace Holdings LLC (A) 5.625 08-15-29   53,000 46,955
Construction materials 1.2%      
Knife River Corp. (A) 7.750 05-01-31   19,000 19,874
Oscar AcquisitionCo LLC (A) 9.500 04-15-30   18,000 16,380
Quikrete Holdings, Inc. (A) 6.375 03-01-32   109,000 109,614
Quikrete Holdings, Inc. (A) 6.750 03-01-33   58,000 58,217
Smyrna Ready Mix Concrete LLC (A) 8.875 11-15-31   71,000 72,845
Standard Building Solutions, Inc. (A) 6.500 08-15-32   88,000 89,096
Standard Industries, Inc. (A) 3.375 01-15-31   39,000 34,435
White Cap Buyer LLC (A) 6.875 10-15-28   20,000 19,487
Containers and packaging 2.3%      
Ball Corp. 6.000 06-15-29   210,000 214,283
Clydesdale Acquisition Holdings, Inc. (A) 6.875 01-15-30   42,000 42,674
Clydesdale Acquisition Holdings, Inc. (A) 8.750 04-15-30   28,000 28,849
Crown Americas LLC 4.250 09-30-26   88,000 86,759
Graham Packaging Company, Inc. (A) 7.125 08-15-28   26,000 25,425
Graphic Packaging International LLC (A) 3.750 02-01-30   77,000 70,767
Iris Holding, Inc. (A) 10.000 12-15-28   12,000 10,592
LABL, Inc. (A) 5.875 11-01-28   43,000 35,561
LABL, Inc. (A) 10.500 07-15-27   21,000 18,795
Mauser Packaging Solutions Holding Company (A) 7.875 04-15-27   70,000 70,185
Owens-Brockway Glass Container, Inc. (A) 7.375 06-01-32   18,000 17,565
Sealed Air Corp. (A) 6.125 02-01-28   129,000 129,953
Trident TPI Holdings, Inc. (A) 12.750 12-31-28   30,000 31,471
Metals and mining 2.6%      
Amsted Industries, Inc. (A) 4.625 05-15-30   35,000 33,083
Arsenal AIC Parent LLC (A) 8.000 10-01-30   28,000 28,990
ATI, Inc. 5.875 12-01-27   79,000 78,811
Big River Steel LLC (A) 6.625 01-31-29   85,000 85,523
Cleveland-Cliffs, Inc. (A) 6.875 11-01-29   118,000 114,286
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 34
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Materials (continued)      
Metals and mining (continued)      
Commercial Metals Company 3.875 02-15-31   24,000 $21,517
FMG Resources August 2006 Pty, Ltd. (A) 4.375 04-01-31   38,000 34,391
Hudbay Minerals, Inc. (A) 4.500 04-01-26   110,000 107,943
Kaiser Aluminum Corp. (A) 4.500 06-01-31   68,000 61,106
Mineral Resources, Ltd. (A) 8.500 05-01-30   27,000 24,527
Mineral Resources, Ltd. (A) 9.250 10-01-28   88,000 83,223
Novelis Corp. (A) 3.250 11-15-26   28,000 27,155
Novelis Corp. (A) 4.750 01-30-30   74,000 68,812
Samarco Mineracao SA (0.000% Cash and 9.000% PIK) (A) 9.000 06-30-31   68,343 64,323
SunCoke Energy, Inc. (A) 4.875 06-30-29   70,000 64,307
Vibrantz Technologies, Inc. (A) 9.000 02-15-30   20,000 15,149
Paper and forest products 0.3%      
Domtar Corp. (A) 6.750 10-01-28   15,000 12,567
Magnera Corp. (A) 4.750 11-15-29   14,000 12,200
Magnera Corp. (A) 7.250 11-15-31   58,000 54,847
Mercer International, Inc. (A) 12.875 10-01-28   18,000 18,392
Real estate 3.6%     1,228,414
Health care REITs 0.3%      
Diversified Healthcare Trust 4.750 02-15-28   12,000 10,733
Diversified Healthcare Trust (A)(C) 8.027 01-15-26   13,000 12,295
MPT Operating Partnership LP 4.625 08-01-29   35,000 26,659
MPT Operating Partnership LP 5.000 10-15-27   41,000 36,224
MPT Operating Partnership LP (A) 8.500 02-15-32   16,000 16,256
Hotel and resort REITs 0.5%      
Service Properties Trust 3.950 01-15-28   38,000 33,507
Service Properties Trust 4.375 02-15-30   12,000 8,946
Service Properties Trust 4.750 10-01-26   28,000 27,109
Service Properties Trust 5.500 12-15-27   28,000 26,673
Service Properties Trust 8.375 06-15-29   55,000 53,785
Service Properties Trust 8.875 06-15-32   16,000 15,459
Office REITs 0.2%      
Brandywine Operating Partnership LP 8.300 03-15-28   31,000 32,043
Hudson Pacific Properties LP 3.950 11-01-27   22,000 19,110
Real estate management and development 0.8%      
Anywhere Real Estate Group LLC (A) 5.750 01-15-29   20,000 15,794
Anywhere Real Estate Group LLC (A) 7.000 04-15-30   27,000 23,946
Cushman & Wakefield US Borrower LLC (A) 8.875 09-01-31   25,000 26,745
Five Point Operating Company LP (10.500% to 11-15-25, then 11.000% to 11-15-26, then 12.000% thereafter) (A) 10.500 01-15-28   65,000 66,080
Forestar Group, Inc. (A) 5.000 03-01-28   35,000 33,972
Kennedy-Wilson, Inc. 4.750 03-01-29   49,000 44,123
Kennedy-Wilson, Inc. 5.000 03-01-31   47,000 40,207
The Howard Hughes Corp. (A) 5.375 08-01-28   34,000 32,759
Retail REITs 0.0%      
The Necessity Retail REIT, Inc. (A) 4.500 09-30-28   17,000 16,030
Specialized REITs 1.8%      
Iron Mountain, Inc. (A) 4.875 09-15-29   133,000 128,089
Iron Mountain, Inc. (A) 5.250 07-15-30   159,000 154,081
SBA Communications Corp. 3.125 02-01-29   92,000 85,236
Uniti Group LP (A) 6.000 01-15-30   46,000 41,137
Uniti Group LP (A) 6.500 02-15-29   60,000 54,890
Uniti Group LP (A) 10.500 02-15-28   138,000 146,526
35 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Utilities 2.7%     $936,881
Electric utilities 0.8%      
Edison International (8.125% to 6-15-28, then 5 Year CMT + 3.864%) 8.125 06-15-53   9,000 8,569
NRG Energy, Inc. (A) 3.375 02-15-29   113,000 104,750
NRG Energy, Inc. (A) 6.000 02-01-33   110,000 108,846
PG&E Corp. (7.375% to 3-15-30, then 5 Year CMT + 3.883%) 7.375 03-15-55   67,000 65,043
Gas utilities 0.2%      
AmeriGas Partners LP 5.750 05-20-27   83,000 79,326
Independent power and renewable electricity producers 1.7%      
Calpine Corp. (A) 4.500 02-15-28   68,000 66,510
Clearway Energy Operating LLC (A) 3.750 01-15-32   39,000 33,821
Talen Energy Supply LLC (A) 8.625 06-01-30   68,000 72,622
The AES Corp. (6.950% to 7-15-30, then 5 Year CMT + 2.890%) 6.950 07-15-55   51,000 47,562
XPLR Infrastructure Operating Partners LP (A) 3.875 10-15-26   154,000 148,562
XPLR Infrastructure Operating Partners LP (A) 4.500 09-15-27   177,000 167,342
XPLR Infrastructure Operating Partners LP (A) 8.625 03-15-33   34,000 33,928
Term loans (D) 0.0%         $6,881
(Cost $6,986)          
Health care 0.0% 6,881
Health care providers and services 0.0%
MPH Acquisition Holdings LLC, (3 month CME Term SOFR + 3.750%) 2025 Exchange Term Loan 8.030 12-31-30   6,986 6,881
    
    Yield (%)   Shares Value
Short-term investments 0.1%         $31,452
(Cost $31,452)          
Short-term funds 0.1%         31,452
State Street Institutional U.S. Government Money Market Fund, Premier Class 4.2762(E)   31,452 31,452
    
Total investments (Cost $34,306,731) 98.4%     $33,970,068
Other assets and liabilities, net 1.6%       565,196
Total net assets 100.0%         $34,535,264
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME CME Group Published Rates
CMT Constant Maturity Treasury
LIBOR London Interbank Offered Rate
PIK Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate.
SOFR Secured Overnight Financing Rate
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $28,416,584 or 82.3% of the fund’s net assets as of 4-30-25.
(B) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(C) Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end.
(D) Term loans are variable rate obligations. The rate shown represents the rate at period end.
(E) The rate shown is the annualized seven-day yield as of 4-30-25.
The fund had the following country composition as a percentage of net assets on 4-30-25:
United States 86.5%
Canada 4.6%
United Kingdom 1.5%
Luxembourg 1.5%
Ireland 1.1%
Italy 1.0%
Other countries 3.8%
TOTAL 100.0%
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 36
Table of Contents
MORTGAGE-BACKED SECURITIES ETF
As of 4-30-25
  Rate (%) Maturity date   Par value^ Value
U.S. Government and Agency obligations 67.2%       $89,395,775
(Cost $90,033,459)          
U.S. Government Agency 67.2%       89,395,775
Federal Home Loan Mortgage Corp.          
30 Yr Pass Thru 2.000 01-01-51   618,468 495,621
30 Yr Pass Thru 2.000 01-01-51   1,394,377 1,125,252
30 Yr Pass Thru 2.000 02-01-51   630,793 506,483
30 Yr Pass Thru 2.000 03-01-51   328,695 262,995
30 Yr Pass Thru 2.000 08-01-51   253,329 203,643
30 Yr Pass Thru 2.000 09-01-51   214,372 172,796
30 Yr Pass Thru 2.000 11-01-51   778,005 624,927
30 Yr Pass Thru 2.000 12-01-51   1,243,418 998,767
30 Yr Pass Thru 2.000 12-01-51   722,535 574,500
30 Yr Pass Thru 2.000 12-01-51   692,210 553,200
30 Yr Pass Thru 2.000 01-01-52   460,872 366,447
30 Yr Pass Thru 2.000 02-01-52   402,049 322,566
30 Yr Pass Thru 2.000 02-01-52   538,013 432,155
30 Yr Pass Thru 2.000 03-01-52   1,545,907 1,244,637
30 Yr Pass Thru 2.500 08-01-50   138,651 117,290
30 Yr Pass Thru 2.500 05-01-51   1,309,056 1,095,517
30 Yr Pass Thru 2.500 09-01-51   148,239 125,030
30 Yr Pass Thru 2.500 09-01-51   224,381 187,779
30 Yr Pass Thru 2.500 09-01-51   227,353 189,342
30 Yr Pass Thru 2.500 09-01-51   374,461 314,313
30 Yr Pass Thru 2.500 10-01-51   775,331 645,706
30 Yr Pass Thru 2.500 10-01-51   278,707 234,550
30 Yr Pass Thru 2.500 11-01-51   178,542 150,255
30 Yr Pass Thru 2.500 11-01-51   588,483 495,246
30 Yr Pass Thru 2.500 01-01-52   216,297 182,433
30 Yr Pass Thru 2.500 01-01-52   765,268 643,782
30 Yr Pass Thru 2.500 04-01-52   110,236 92,771
30 Yr Pass Thru 3.000 08-01-50   348,781 303,374
30 Yr Pass Thru 3.000 05-01-51   225,418 198,819
30 Yr Pass Thru 3.000 06-01-51   266,111 233,255
30 Yr Pass Thru 3.000 09-01-51   441,103 388,018
30 Yr Pass Thru 3.000 01-01-52   244,480 212,996
30 Yr Pass Thru 3.000 01-01-52   250,312 219,093
30 Yr Pass Thru 3.500 09-01-47   286,345 262,620
30 Yr Pass Thru 3.500 01-01-50   256,732 234,578
30 Yr Pass Thru 3.500 03-01-52   994,747 907,042
30 Yr Pass Thru 3.500 03-01-52   199,460 181,375
30 Yr Pass Thru 3.500 03-01-52   554,664 504,893
30 Yr Pass Thru 3.500 04-01-52   100,560 91,160
30 Yr Pass Thru 3.500 04-01-52   196,764 179,108
30 Yr Pass Thru 3.500 08-01-52   574,750 526,051
30 Yr Pass Thru 3.500 09-01-52   355,300 322,863
30 Yr Pass Thru 4.000 05-01-52   200,356 187,048
30 Yr Pass Thru 4.000 05-01-52   478,885 451,416
30 Yr Pass Thru 4.000 07-01-52   763,657 717,944
30 Yr Pass Thru 4.000 07-01-52   1,419,168 1,331,337
30 Yr Pass Thru 4.000 09-01-52   179,870 168,484
30 Yr Pass Thru 4.000 09-01-52   123,484 116,092
30 Yr Pass Thru 4.000 10-01-52   1,166,095 1,093,376
30 Yr Pass Thru 4.000 11-01-52   1,220,088 1,144,003
30 Yr Pass Thru 4.500 06-01-52   1,176,406 1,128,232
30 Yr Pass Thru 4.500 07-01-52   308,873 297,575
37 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)        
30 Yr Pass Thru 4.500 07-01-52   786,606 $757,467
30 Yr Pass Thru 4.500 07-01-52   1,067,699 1,030,183
30 Yr Pass Thru 4.500 08-01-52   246,366 237,721
30 Yr Pass Thru 4.500 09-01-52   1,048,756 1,006,776
30 Yr Pass Thru 4.500 09-01-52   297,653 288,999
30 Yr Pass Thru 4.500 10-01-52   112,432 108,240
30 Yr Pass Thru 4.500 08-01-53   294,745 283,665
30 Yr Pass Thru 5.000 06-01-53   278,717 273,894
30 Yr Pass Thru 5.000 06-01-53   725,445 712,484
30 Yr Pass Thru 5.000 07-01-53   184,801 181,950
30 Yr Pass Thru 5.000 07-01-53   133,365 131,807
30 Yr Pass Thru 5.000 08-01-53   172,175 169,099
30 Yr Pass Thru 5.000 03-01-54   410,641 405,229
30 Yr Pass Thru 5.000 10-01-54   1,166,950 1,145,845
30 Yr Pass Thru 5.000 11-01-54   312,848 307,528
30 Yr Pass Thru 5.000 11-01-54   706,003 697,967
30 Yr Pass Thru 5.000 01-01-55   1,077,459 1,062,164
30 Yr Pass Thru 5.500 04-01-53   187,198 187,287
30 Yr Pass Thru 5.500 07-01-53   361,268 363,110
30 Yr Pass Thru 5.500 03-01-54   86,823 86,845
30 Yr Pass Thru 5.500 03-01-54   281,254 283,347
30 Yr Pass Thru 5.500 12-01-54   1,028,881 1,030,366
30 Yr Pass Thru 5.500 12-01-54   444,946 446,590
30 Yr Pass Thru 5.500 01-01-55   897,034 902,169
30 Yr Pass Thru 5.500 02-01-55   291,807 294,252
30 Yr Pass Thru 5.500 02-01-55   670,781 674,516
Federal National Mortgage Association          
10 Yr Pass Thru 5.100 01-01-35   600,000 616,312
10 Yr Pass Thru 5.180 02-01-35   600,000 619,485
30 Yr Pass Thru (A) 2.000 TBA   155,000 122,983
30 Yr Pass Thru 2.000 09-01-50   560,333 450,959
30 Yr Pass Thru 2.000 10-01-50   368,624 294,942
30 Yr Pass Thru 2.000 10-01-50   540,985 434,542
30 Yr Pass Thru 2.000 02-01-51   327,525 262,161
30 Yr Pass Thru 2.000 03-01-51   117,898 94,664
30 Yr Pass Thru 2.000 04-01-51   642,513 514,688
30 Yr Pass Thru 2.000 07-01-51   254,833 205,489
30 Yr Pass Thru 2.000 07-01-51   304,531 243,661
30 Yr Pass Thru 2.000 07-01-51   528,129 422,566
30 Yr Pass Thru 2.000 07-01-51   174,155 139,344
30 Yr Pass Thru 2.000 07-01-51   198,722 159,684
30 Yr Pass Thru 2.000 07-01-51   735,948 588,846
30 Yr Pass Thru 2.000 08-01-51   324,878 261,159
30 Yr Pass Thru 2.000 08-01-51   229,827 183,314
30 Yr Pass Thru 2.000 09-01-51   481,925 389,212
30 Yr Pass Thru 2.000 09-01-51   580,359 464,174
30 Yr Pass Thru 2.000 10-01-51   565,359 455,710
30 Yr Pass Thru 2.000 02-01-52   958,196 769,664
30 Yr Pass Thru 2.000 03-01-52   410,147 329,704
30 Yr Pass Thru 2.000 03-01-52   1,187,907 956,405
30 Yr Pass Thru 2.000 03-01-52   646,890 519,610
30 Yr Pass Thru (A) 2.500 TBA   745,000 619,194
30 Yr Pass Thru 2.500 09-01-50   279,934 236,894
30 Yr Pass Thru 2.500 05-01-51   616,662 517,226
30 Yr Pass Thru 2.500 07-01-51   243,965 205,998
30 Yr Pass Thru 2.500 07-01-51   288,178 240,539
30 Yr Pass Thru 2.500 07-01-51   890,651 748,425
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 38
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)        
30 Yr Pass Thru 2.500 08-01-51   471,941 $397,463
30 Yr Pass Thru 2.500 08-01-51   253,921 213,690
30 Yr Pass Thru 2.500 09-01-51   419,491 353,028
30 Yr Pass Thru 2.500 10-01-51   809,547 682,803
30 Yr Pass Thru 2.500 12-01-51   221,325 186,259
30 Yr Pass Thru 2.500 12-01-51   590,758 497,899
30 Yr Pass Thru 2.500 12-01-51   414,407 348,750
30 Yr Pass Thru 2.500 01-01-52   220,747 185,773
30 Yr Pass Thru 2.500 01-01-52   1,269,507 1,072,337
30 Yr Pass Thru 2.500 03-01-52   220,764 183,855
30 Yr Pass Thru 2.500 04-01-52   1,186,838 999,540
30 Yr Pass Thru (A) 3.000 TBA   645,000 559,437
30 Yr Pass Thru 3.000 11-01-46   292,806 260,908
30 Yr Pass Thru 3.000 11-01-46   171,432 152,756
30 Yr Pass Thru 3.000 09-01-50   78,019 68,447
30 Yr Pass Thru 3.000 10-01-50   394,514 342,660
30 Yr Pass Thru 3.000 11-01-50   200,725 177,604
30 Yr Pass Thru 3.000 06-01-51   582,172 511,019
30 Yr Pass Thru 3.000 10-01-51   250,538 217,490
30 Yr Pass Thru 3.000 11-01-51   211,644 186,306
30 Yr Pass Thru 3.000 12-01-51   441,076 386,341
30 Yr Pass Thru 3.000 12-01-51   370,665 325,942
30 Yr Pass Thru 3.000 01-01-52   160,128 140,357
30 Yr Pass Thru 3.000 01-01-52   141,357 124,302
30 Yr Pass Thru 3.000 02-01-52   246,022 215,569
30 Yr Pass Thru 3.000 03-01-52   889,352 779,266
30 Yr Pass Thru 3.000 03-01-52   295,228 258,684
30 Yr Pass Thru 3.000 03-01-52   166,682 145,700
30 Yr Pass Thru 3.000 03-01-52   750,236 657,136
30 Yr Pass Thru 3.000 03-01-52   1,131,308 995,161
30 Yr Pass Thru 3.000 03-01-52   1,247,043 1,096,578
30 Yr Pass Thru 3.000 04-01-52   1,150,290 1,007,546
30 Yr Pass Thru 3.000 04-01-52   407,362 357,193
30 Yr Pass Thru (A) 3.500 TBA   655,000 590,958
30 Yr Pass Thru 3.500 10-01-49   571,362 522,235
30 Yr Pass Thru 3.500 12-01-49   236,004 215,122
30 Yr Pass Thru 3.500 01-01-50   925,146 842,999
30 Yr Pass Thru 3.500 01-01-50   1,175,469 1,076,972
30 Yr Pass Thru 3.500 03-01-50   870,802 789,943
30 Yr Pass Thru 3.500 04-01-51   172,948 158,294
30 Yr Pass Thru 3.500 08-01-51   282,706 256,654
30 Yr Pass Thru 3.500 12-01-51   1,015,684 929,942
30 Yr Pass Thru 3.500 02-01-52   1,182,165 1,082,368
30 Yr Pass Thru 3.500 04-01-52   133,064 120,916
30 Yr Pass Thru 3.500 04-01-52   164,091 148,752
30 Yr Pass Thru 3.500 04-01-52   515,132 466,333
30 Yr Pass Thru 3.500 06-01-52   253,956 230,930
30 Yr Pass Thru 3.500 06-01-52   428,436 389,323
30 Yr Pass Thru 3.500 07-01-52   152,412 138,022
30 Yr Pass Thru 3.500 09-01-52   202,031 183,145
30 Yr Pass Thru (A) 4.000 TBA   225,000 209,593
30 Yr Pass Thru 4.000 03-01-48   105,795 99,925
30 Yr Pass Thru 4.000 06-01-49   91,693 86,920
30 Yr Pass Thru 4.000 04-01-50   93,538 88,553
30 Yr Pass Thru 4.000 05-01-52   287,832 271,322
30 Yr Pass Thru 4.000 06-01-52   486,856 456,648
30 Yr Pass Thru 4.000 06-01-52   152,416 142,959
39 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)        
30 Yr Pass Thru 4.000 06-01-52   355,861 $334,559
30 Yr Pass Thru 4.000 06-01-52   664,958 625,984
30 Yr Pass Thru 4.000 07-01-52   225,751 211,814
30 Yr Pass Thru 4.000 09-01-52   300,896 280,816
30 Yr Pass Thru 4.000 09-01-52   252,152 236,506
30 Yr Pass Thru 4.000 10-01-52   410,717 385,104
30 Yr Pass Thru (A) 4.500 TBA   130,000 124,328
30 Yr Pass Thru 4.500 06-01-52   279,107 269,422
30 Yr Pass Thru 4.500 06-01-52   385,464 372,691
30 Yr Pass Thru 4.500 07-01-52   651,234 624,566
30 Yr Pass Thru 4.500 07-01-52   292,535 282,293
30 Yr Pass Thru 4.500 09-01-52   393,203 378,606
30 Yr Pass Thru 4.500 09-01-52   246,580 236,386
30 Yr Pass Thru 4.500 10-01-52   124,036 119,412
30 Yr Pass Thru 4.500 11-01-52   79,123 76,174
30 Yr Pass Thru 4.500 06-01-53   71,483 68,461
30 Yr Pass Thru 4.500 07-01-53   300,679 289,447
30 Yr Pass Thru 4.500 09-01-53   472,785 454,828
30 Yr Pass Thru (A) 5.000 TBA   925,000 905,524
30 Yr Pass Thru 5.000 09-01-52   171,429 168,632
30 Yr Pass Thru 5.000 06-01-53   161,900 159,220
30 Yr Pass Thru 5.000 07-01-53   102,002 100,690
30 Yr Pass Thru 5.000 07-01-53   242,202 237,874
30 Yr Pass Thru 5.000 04-01-54   140,969 138,318
30 Yr Pass Thru 5.000 10-01-54   496,495 489,292
30 Yr Pass Thru 5.000 10-01-54   1,030,895 1,014,651
30 Yr Pass Thru 5.000 11-01-54   1,028,527 1,012,320
30 Yr Pass Thru 5.000 11-01-54   1,008,179 995,128
30 Yr Pass Thru 5.000 12-01-54   527,874 518,896
30 Yr Pass Thru 5.000 02-01-55   224,298 220,483
30 Yr Pass Thru (A) 5.500 TBA   1,100,000 1,097,465
30 Yr Pass Thru 5.500 10-01-52   145,494 146,259
30 Yr Pass Thru 5.500 10-01-53   290,721 290,886
30 Yr Pass Thru 5.500 11-01-53   334,019 333,687
30 Yr Pass Thru 5.500 02-01-54   191,667 191,717
30 Yr Pass Thru 5.500 06-01-54   993,540 1,000,936
30 Yr Pass Thru 5.500 01-01-55   286,233 289,437
30 Yr Pass Thru (A) 6.000 TBA   50,000 50,709
Government National Mortgage Association          
30 Yr Pass Thru 2.500 09-20-49   644,387 552,420
30 Yr Pass Thru 2.500 06-20-50   455,768 389,012
30 Yr Pass Thru 2.500 02-20-51   233,306 199,061
30 Yr Pass Thru 2.500 07-20-51   523,647 446,458
30 Yr Pass Thru 2.500 03-20-53   460,952 394,085
30 Yr Pass Thru 3.000 05-20-53   222,886 198,782
Collateralized mortgage obligations 19.3%       $25,763,521
(Cost $26,143,537)          
Commercial and residential 15.9%     21,254,920
A&D Mortgage Trust    
Series 2024-NQM4, Class M1 (B)(C) 5.929 08-25-69   200,000 197,722
Agate Bay Mortgage Trust    
Series 2013-1, Class A1 (B)(C) 3.500 07-25-43   151,579 140,790
Angel Oak Mortgage Trust LLC    
Series 2022-3, Class A1 (B) 4.000 01-25-67   235,650 224,775
Series 2022-5, Class A1 (4.500% to 7-1-26, then 5.500% thereafter) (B) 4.500 05-25-67   359,127 354,477
Series 2022-6, Class A1 (4.300% to 9-1-26, then 5.300% thereafter) (B) 4.300 07-25-67   591,859 583,316
Series 2024-10, Class M1 (B)(C) 6.007 10-25-69   200,000 198,493
Series 2024-3, Class A1 (4.800% to 2-1-28, then 5.800% thereafter) (B) 4.800 11-26-68   174,774 174,283
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 40
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Commercial and residential (continued)      
Arizona Biltmore Trust    
Series 2024-BILT, Class C (B) 6.361 06-11-29   200,000 $202,037
Arroyo Mortgage Trust    
Series 2019-1, Class A3 (B)(C) 4.208 01-25-49   118,554 116,191
BAHA Trust    
Series 2024-MAR, Class A (B)(C) 6.171 12-10-41   650,000 671,019
BANK    
Series 2024-BNK47, Class A5 5.716 06-15-57   441,000 462,094
BBCMS Mortgage Trust    
Series 2024-5C27, Class B (C) 6.700 07-15-57   200,000 207,980
Series 2024-5C29, Class B (C) 5.858 09-15-57   295,000 297,722
Series 2024-C30, Class A5 5.532 11-15-57   300,000 310,019
BBCMS Trust    
Series 2025-C32, Class A5 5.720 02-15-62   550,000 576,310
BRAVO Residential Funding Trust    
Series 2021-NQM1, Class M1 (B)(C) 2.316 02-25-49   100,000 83,213
BX Trust    
Series 2019-OC11, Class D (B)(C) 4.075 12-09-41   400,000 370,937
COLT Mortgage Loan Trust    
Series 2021-4, Class B1 (B)(C) 3.764 10-25-66   200,000 148,046
Series 2021-HX1, Class B1 (B)(C) 3.110 10-25-66   100,000 73,987
Series 2024-5, Class M1 (B)(C) 5.655 08-25-69   200,000 197,073
Series 2025-1, Class A3 (6.084% to 1-1-29, then 7.084% thereafter) (B) 6.084 01-25-70   292,417 293,852
Cross Mortgage Trust    
Series 2024-H2, Class A3 (6.518% to 3-1-28, then 7.518% thereafter) (B) 6.518 04-25-69   156,670 157,841
Series 2024-H5, Class A3 (6.158% to 7-1-28, then 7.158% thereafter) (B) 6.158 08-26-69   87,889 88,468
Series 2024-H7, Class B1A (B)(C) 7.048 11-25-69   200,000 201,115
Series 2025-H1, Class B1A (B)(C) 6.828 02-25-70   300,000 300,375
Ellington Financial Mortgage Trust    
Series 2022-3, Class A1 (5.000% to 7-1-26, then 6.000% thereafter) (B) 5.000 08-25-67   263,970 262,687
Series 2022-4, Class A1 (5.900% to 12-1-26, then 6.900% thereafter) (B) 5.900 09-25-67   265,423 266,812
Series 2025-CES1, Class A2 (6.121% to 2-1-29, then 7.121% thereafter) (B) 6.121 01-25-60   300,000 304,389
Flagstar Mortgage Trust    
Series 2021-3INV, Class A18 (B)(C) 5.000 06-25-51   328,039 321,941
Series 2021-6INV, Class A4 (B)(C) 2.500 08-25-51   182,544 148,545
FS Commercial Mortgage Trust    
Series 2023-4SZN, Class B (B)(C) 7.795 11-10-39   380,000 388,646
GCAT    
Series 2024-NQM2, Class M1 (B)(C) 6.569 06-25-59   200,000 201,341
GS Mortgage Securities Trust    
Series 2024-RVR, Class A (B)(C) 5.372 08-10-41   400,000 402,561
GS Mortgage-Backed Securities Trust    
Series 2023-PJ2, Class A3 (B)(C) 5.000 05-25-53   250,185 241,252
Houston Galleria Mall Trust    
Series 2025-HGLR, Class A (B)(C) 5.644 02-05-45   600,000 610,428
Hudson Yards Mortgage Trust    
Series 2025-SPRL, Class C (B)(C) 6.150 01-13-40   500,000 513,639
Hundred Acre Wood Trust    
Series 2021-INV3, Class B1 (B)(C) 3.320 12-25-51   736,298 634,263
Imperial Fund Mortgage Trust    
Series 2022-NQM5, Class A3 (6.250% to 7-1-26, then 7.250% thereafter) (B) 6.250 08-25-67   72,323 72,445
IRV Trust    
Series 2025-200P, Class B (B)(C) 5.621 03-14-47   300,000 296,045
JPMorgan Mortgage Trust    
Series 2019-INV1, Class B5 (B)(C) 4.932 10-25-49   351,937 307,963
Series 2019-INV2, Class B4 (B)(C) 4.713 02-25-50   352,954 335,027
Series 2019-INV3, Class A15 (B)(C) 3.500 05-25-50   123,121 110,909
Series 2019-INV3, Class B3 (B)(C) 4.354 05-25-50   206,456 190,490
Series 2021-14, Class A12 (B)(C) 5.000 05-25-52   319,203 312,409
Series 2021-6, Class A12 (B)(C) 5.000 10-25-51   326,884 318,720
Series 2022-DSC1, Class A1 (B)(C) 4.750 01-25-63   194,604 190,314
Series 2023-4, Class 2A6 (B)(C) 5.500 11-25-53   392,309 386,793
MFA Trust    
41 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Commercial and residential (continued)      
Series 2020-NQM3, Class M1 (B)(C) 2.654 01-26-65   100,000 $91,434
Series 2023-NQM1, Class A2 (5.750% to 1-1-27, then 6.750% thereafter) (B) 5.750 11-25-67   109,957 109,428
New Residential Mortgage Loan Trust    
Series 2019-4A, Class A1B (B)(C) 3.500 12-25-58   53,642 50,181
NY Commercial Mortgage Trust    
Series 2025-299P, Class A (B)(C) 5.853 02-10-47   600,000 618,350
OBX Trust    
Series 2020-EXP2, Class A8 (B)(C) 3.000 05-25-60   68,361 59,921
Series 2023-NQM10, Class A3 (7.173% to 11-1-27, then 8.173% thereafter) (B) 7.173 10-25-63   308,013 311,707
Series 2024-NQM12, Class A2 (5.779% to 8-1-28, then 6.779% thereafter) (B) 5.779 07-25-64   219,775 220,744
RATE Mortgage Trust    
Series 2024-J3, Class B3 (B)(C) 6.406 10-25-54   446,235 420,741
Ready Capital Mortgage Trust    
Series 2019-5, Class E (B)(C) 5.238 02-25-52   250,000 216,838
Residential Mortgage Loan Trust    
Series 2019-3, Class B2 (B)(C) 5.664 09-25-59   250,000 244,115
Series 2020-2, Class B2 (B)(C) 5.400 05-25-60   250,000 241,443
RIDE Trust    
Series 2025-SHRE, Class E (B)(C) 8.069 02-14-47   250,000 248,419
ROCK Trust    
Series 2024-CNTR, Class D (B) 7.109 11-13-41   400,000 417,246
Sequoia Mortgage Trust    
Series 2024-1, Class B2 (B)(C) 5.987 01-25-54   293,759 290,722
Series 2025-1, Class A1 (B)(C) 6.000 01-25-55   284,298 285,420
Series 2025-3, Class A20 (B)(C) 5.500 04-25-55   586,226 576,626
Series 2025-4, Class A19 (B)(C) 6.000 05-25-55   400,000 400,562
Toorak Mortgage Trust    
Series 2024-RRTL2, Class A1 (5.504% to 3-25-27, then 6.504% thereafter) (B) 5.504 09-25-39   300,000 298,731
Towd Point Mortgage Trust    
Series 2019-4, Class B1B (B)(C) 3.500 10-25-59   315,000 244,774
Series 2024-4, Class A1A (B)(C) 4.447 10-27-64   553,854 549,628
Verus Securitization Trust    
Series 2020-5, Class A1 (B) 2.218 05-25-65   57,062 55,152
Series 2021-1, Class A2 (B)(C) 1.052 01-25-66   61,566 54,403
Series 2021-3, Class A3 (B)(C) 1.437 06-25-66   64,878 56,151
Series 2022-4, Class A1 (4.474% to 4-1-26, then 5.474% thereafter) (B) 4.474 04-25-67   67,881 68,144
Series 2022-INV2, Class M1 (B)(C) 6.773 10-25-67   250,000 249,394
Series 2024-2, Class A3 (6.501% to 2-1-28, then 7.501% thereafter) (B) 6.501 02-25-69   129,050 130,008
Series 2024-4, Class M1 (B)(C) 6.700 06-25-69   200,000 201,747
Series 2024-7, Class M1 (B)(C) 5.599 09-25-69   200,000 196,762
Visio Trust    
Series 2019-2, Class A1 (B)(C) 2.722 11-25-54   18,565 18,154
Series 2020-1, Class A3 (B)(C) 3.521 08-25-55   176,000 166,382
Wells Fargo Commercial Mortgage Trust    
Series 2024-C63, Class A5 5.309 08-15-57   700,000 711,839
U.S. Government Agency 3.4%     4,508,601
Federal Home Loan Mortgage Corp.    
Series 2022-DNA3, Class M2 (30 day Average SOFR + 4.350%) (B)(D) 8.704 04-25-42   435,000 457,147
Series 5150, Class IS IO 0.264 08-25-51   1,741,000 141,839
Series 5250, Class AY 2.000 01-25-55   449,989 270,847
Series K109, Class X1 IO 1.689 04-25-30   1,960,313 123,527
Series K116, Class X1 IO 1.520 07-25-30   2,702,937 158,670
Series K118, Class X1 IO 1.045 09-25-30   3,153,344 131,574
Series X2FX, Class X1 IO 0.770 09-25-25   4,139,093 374
Federal National Mortgage Association    
Series 2022-22, Class B 2.000 07-25-54   400,000 236,759
Series 2022-R02, Class 2B1 (30 day Average SOFR + 4.500%) (B)(D) 8.854 01-25-42   300,000 311,625
Series 2023-R04, Class 1B1 (30 day Average SOFR + 5.350%) (B)(D) 9.703 05-25-43   300,000 324,544
Series 2023-R06, Class 1B1 (30 day Average SOFR + 3.900%) (B)(D) 8.254 07-25-43   400,000 417,708
Government National Mortgage Association    
Series 2014-135, Class IO 0.414 01-16-56   13,385,862 279,252
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 42
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)      
Series 2017-159, Class IO 0.430 06-16-59   3,770,096 $97,787
Series 2018-23, Class IO 0.585 11-16-59   1,238,196 42,816
Series 2021-178, Class IA IO 0.100 10-16-61   36,930,934 181,143
Series 2022-141, Class BC 2.100 06-16-64   265,000 139,763
Series 2023-197, Class IO 1.240 09-16-65   1,627,509 140,590
Series 2024-161, Class IO 0.743 06-16-64   6,911,866 395,957
Series 2024-193, Class IO 0.700 12-16-66   2,983,926 197,908
Series 2025-3, Class IO 0.855 04-16-67   1,596,817 114,210
Series 2025-35, Class IO 0.769 09-16-66   5,707,057 344,561
Asset-backed securities 13.0%         $17,304,787
(Cost $17,141,589)          
Asset-backed securities 13.0%     17,304,787
321 Henderson Receivables V LLC          
Series 2008-3A, Class A1 (B) 8.000 06-15-45   549,570 614,267
Amur Equipment Finance Receivables XIV LLC          
Series 2024-2A, Class D (B) 5.970 10-20-31   260,000 266,460
Blue Stream Issuer LLC          
Series 2024-1A, Class B (B) 6.043 11-20-54   250,000 251,906
Business Jet Securities          
Series 2024-2A, Class A (B) 5.364 09-15-39   188,947 187,633
CARS-DB4 LP          
Series 2020-1A, Class B3 (B) 4.950 02-15-50   100,000 90,074
CARS-DB6 LP          
Series 2022-1A, Class B (B) 4.680 03-15-52   175,000 161,867
CARS-DB8 LP          
Series 2024-2A, Class A2 (B) 5.250 05-15-54   345,990 343,926
CLI Funding VIII LLC          
Series 2021-1A, Class B (B) 2.380 02-18-46   165,893 151,283
Series 2022-1A, Class B (B) 3.120 01-18-47   102,405 91,847
Compass Datacenters Issuer III LLC          
Series 2025-2A, Class A2 (B) 5.835 02-25-50   276,000 279,738
Concord Music Royalties LLC          
Series 2024-1A, Class A (B) 5.644 10-20-74   200,000 197,038
CyrusOne Data Centers Issuer I LLC          
Series 2024-3A, Class A2 (B) 4.650 05-20-49   400,000 381,940
DB Master Finance LLC          
Series 2021-1A, Class A23 (B) 2.791 11-20-51   193,500 167,531
Dext ABS LLC          
Series 2023-2, Class D (B) 8.300 05-15-34   500,000 535,997
Diamond Infrastructure Funding LLC          
Series 2021-1A, Class C (B) 3.475 04-15-49   200,000 188,114
Domino’s Pizza Master Issuer LLC          
Series 2021-1A, Class A2II (B) 3.151 04-25-51   291,750 261,719
Driven Brands Funding LLC          
Series 2024-1A, Class A2 (B) 6.372 10-20-54   630,238 645,187
Elara HGV Timeshare Issuer LLC          
Series 2021-A, Class D (B) 3.320 08-27-35   60,328 56,314
EnFin Residential Solar Receivables Trust          
Series 2024-1A, Class A (B) 6.650 02-20-55   546,598 540,267
ExteNet Issuer LLC          
Series 2024-1A, Class B (B) 6.150 07-25-54   200,000 201,989
FIP Master Funding LLC          
Series 2024-1A, Class A2 (B) 5.130 10-15-54   199,769 197,048
GM Financial Revolving Receivables Trust          
Series 2024-2, Class A (B) 4.520 03-11-37   400,000 402,168
GreenSky Home Improvement Issuer Trust          
Series 2025-1A, Class A3 (B) 5.320 03-25-60   500,000 502,845
Hotwire Funding LLC          
Series 2024-1A, Class B (B) 6.672 06-20-54   250,000 254,997
Jersey Mike’s Funding LLC          
Series 2024-1A, Class A2 (B) 5.636 02-15-55   350,000 348,309
JGWPT XXX LLC          
Series 2013-3A, Class A (B) 4.080 01-17-73   648,470 613,154
43 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Asset-backed securities (continued)      
MetroNet Infrastructure Issuer LLC          
Series 2022-1A, Class B (B) 7.460 10-20-52   250,000 $255,727
Series 2024-1A, Class B (B) 7.590 04-20-54   350,000 362,081
MVW LLC          
Series 2023-2A, Class C (B) 7.060 11-20-40   62,029 64,069
Neighborly Issuer LLC          
Series 2022-1A, Class A2 (B) 3.695 01-30-52   241,875 221,503
Series 2023-1A, Class A2 (B) 7.308 01-30-53   293,250 298,206
New Economy Assets Phase 1 Sponsor LLC          
Series 2021-1, Class B1 (B) 2.410 10-20-61   250,000 227,148
Progress Residential Trust          
Series 2021-SFR3, Class E2 (B) 2.688 05-17-26   150,000 147,239
Series 2021-SFR4, Class E1 (B) 2.409 05-17-38   150,000 146,200
Series 2021-SFR5, Class E2 (B) 2.359 07-17-38   225,000 217,241
Series 2023-SFR2, Class D (B) 4.500 10-17-40   500,000 488,336
Series 2025-SFR2, Class D (B) 3.555 04-17-42   500,000 447,041
Retained Vantage Data Centers Issuer LLC          
Series 2024-1A, Class B (B) 5.775 09-15-49   200,000 196,785
SBA Office of Investments and Innovation          
Series 2025-10A, Class 1 4.963 03-10-35   500,000 507,131
SEB Funding LLC          
Series 2024-1A, Class A2 (B) 7.386 04-30-54   250,000 256,178
SERVPRO Master Issuer LLC          
Series 2024-1A, Class A2 (B) 6.174 01-25-54   197,500 202,708
Sierra Timeshare Receivables Funding LLC          
Series 2025-1A, Class D (B) 6.860 01-21-42   468,814 458,196
Sonic Capital LLC          
Series 2020-1A, Class A2II (B) 4.336 01-20-50   443,300 422,227
STORE Master Funding LLC          
Series 2019-1, Class A2 (B) 3.650 11-20-49   423,788 365,169
Series 2019-1, Class A4 (B) 4.490 11-20-49   116,750 105,703
Subway Funding LLC          
Series 2024-1A, Class A23 (B) 6.505 07-30-54   547,250 553,777
Series 2024-3A, Class A2II (B) 5.566 07-30-54   144,275 143,016
Switch ABS Issuer LLC          
Series 2025-1A, Class B (B) 6.485 03-25-55   400,000 405,160
Taco Bell Funding LLC          
Series 2021-1A, Class A23 (B) 2.542 08-25-51   682,838 586,398
Tricon Residential Trust          
Series 2024-SFR4, Class C (B) 4.800 11-17-41   350,000 342,488
Series 2024-SFR4, Class D (B) 5.350 11-17-41   350,000 341,312
Trinity Rail Leasing LLC          
Series 2020-2A, Class A2 (B) 2.560 11-19-50   640,000 598,163
VB-S1 Issuer LLC          
Series 2022-1A, Class C2II (B) 3.706 02-15-57   400,000 351,026
Series 2022-1A, Class F (B) 5.268 02-15-52   250,000 235,349
Venture XXX CLO, Ltd.          
Series 2017-30A, Class C (3 month CME Term SOFR + 2.212%) (B)(D) 6.468 01-15-31   100,000 98,553
Willis Engine Structured Trust V          
Series 2020-A, Class C (B) 6.657 03-15-45   190,370 185,070
Wingstop Funding LLC          
Series 2024-1A, Class A2 (B) 5.858 12-05-54   140,000 141,969
    
    Yield (%)   Shares Value
Short-term investments 3.3%         $4,377,989
(Cost $4,377,603)          
Short-term funds 3.3%         4,377,989
John Hancock Collateral Trust (E) 4.2081(F)   437,659 4,377,989
    
Total investments (Cost $137,696,188) 102.8%     $136,842,072
Other assets and liabilities, net (2.8%)       (3,737,918)
Total net assets 100.0%         $133,104,154
    
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 44
Table of Contents
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME CME Group Published Rates
IO Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.
SOFR Secured Overnight Financing Rate
TBA To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date.
(A) Security purchased or sold on a when-issued or delayed-delivery basis.
(B) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $36,997,636 or 27.8% of the fund’s net assets as of 4-30-25.
(C) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end.
(D) Variable rate obligation. The coupon rate shown represents the rate at period end.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(F) The rate shown is the annualized seven-day yield as of 4-30-25.
DERIVATIVES
FUTURES
Open contracts Number of
contracts 		Position Expiration
date 		Notional
basis^ 		Notional
value^ 		Unrealized
appreciation
(depreciation)
10-Year U.S. Treasury Note Futures 15 Long Jun 2025 $1,649,614 $1,683,281 $33,667
5-Year U.S. Treasury Note Futures 6 Long Jun 2025 641,586 655,172 13,586
            $47,253
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
See Notes to financial statements regarding investment transactions and other derivatives information.
PREFERRED INCOME ETF
As of 4-30-25
  Rate (%) Maturity date   Par value^ Value
Corporate bonds 49.7%     $35,790,559
(Cost $35,687,297)          
Communication services 1.9%       1,336,652
Diversified telecommunication services 0.9%        
Bell Canada (6.875% to 9-15-30, then 5 Year CMT + 2.390%) 6.875 09-15-55   615,000 614,281
Wireless telecommunication services 1.0%        
Rogers Communications, Inc. (7.125% to 4-15-35, then 5 Year CMT + 2.620%) 7.125 04-15-55   725,000 722,371
Consumer discretionary 0.5%       348,023
Broadline retail 0.5%        
Rakuten Group, Inc. (8.125% to 12-15-29, then 5 Year CMT + 4.250%) (A)(B) 8.125 12-15-29   370,000 348,023
Energy 6.3%       4,551,715
Oil, gas and consumable fuels 6.3%        
Enbridge, Inc. (7.200% to 6-27-34, then 5 Year CMT + 2.970%) 7.200 06-27-54   414,000 411,490
Enbridge, Inc. (7.375% to 1-15-28, then 5 Year CMT + 3.708% to 1-15-33, then 5 Year CMT + 3.958% to 1-15-48, then 5 Year CMT + 4.708%) 7.375 01-15-83   416,000 417,194
Enbridge, Inc. (8.500% to 1-15-34, then 5 Year CMT + 4.431% to 1-15-54, then 5 Year CMT + 5.181%) 8.500 01-15-84   320,000 344,925
Energy Transfer LP (6.625% to 2-15-28, then 3 month CME Term SOFR + 4.417%) (B) 6.625 02-15-28   1,001,000 960,977
Energy Transfer LP (7.125% to 5-15-30, then 5 Year CMT + 5.306%) (B) 7.125 05-15-30   566,000 557,769
South Bow Canadian Infrastructure Holdings, Ltd. (7.500% to 3-1-35, then 5 Year CMT + 3.667%) (A) 7.500 03-01-55   708,000 695,908
TransCanada PipeLines, Ltd. (7.000% to 6-1-30, then 5 Year CMT + 2.614%) 7.000 06-01-65   430,000 421,675
Venture Global LNG, Inc. (9.000% to 9-30-29, then 5 Year CMT + 5.440%) (A)(B) 9.000 09-30-29   863,000 741,777
Financials 21.5%       15,495,494
Banks 11.4%        
Banco Santander SA (9.625% to 11-21-33, then 5 Year CMT + 5.298%) (B) 9.625 05-21-33   209,000 236,105
Bank of America Corp. (5.875% to 3-15-28, then 3 month CME Term SOFR + 3.193%) (B) 5.875 03-15-28   225,000 222,659
Bank of America Corp. (6.125% to 4-27-27, then 5 Year CMT + 3.231%) (B) 6.125 04-27-27   415,000 413,969
45 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Financials (continued)        
Banks (continued)        
Bank of America Corp. (6.625% to 5-1-30, then 5 Year CMT + 2.684%) (B) 6.625 05-01-30   503,000 $503,232
Barclays PLC (9.625% to 6-15-30, then 5 Year SOFR ICE Swap Rate + 5.775%) (B) 9.625 12-15-29   224,000 244,532
Citigroup, Inc. (6.950% to 2-15-30, then 5 Year CMT + 2.726%) (B) 6.950 02-15-30   845,000 827,781
Citigroup, Inc. (7.375% to 5-15-28, then 5 Year CMT + 3.209%) (B) 7.375 05-15-28   540,000 546,718
Citigroup, Inc. (7.625% to 11-15-28, then 5 Year CMT + 3.211%) (B) 7.625 11-15-28   468,000 480,557
Citizens Financial Group, Inc. (3 month CME Term SOFR + 3.419%) (B)(C) 7.703 07-06-25   547,000 538,007
CoBank ACB (6.450% to 10-1-27, then 5 Year CMT + 3.487%) (B) 6.450 10-01-27   315,000 313,348
CoBank ACB (7.250% to 7-1-29, then 5 Year CMT + 2.880%) (B) 7.250 07-01-29   194,000 194,131
Comerica, Inc. (5.625% to 10-1-25, then 5 Year CMT + 5.291%) (B) 5.625 07-01-25   350,000 347,064
JPMorgan Chase & Co. (6.875% to 6-1-29, then 5 Year CMT + 2.737%) (B) 6.875 06-01-29   465,000 478,994
KeyCorp (5.000% to 9-15-26, then 3 month CME Term SOFR + 3.868%) (B) 5.000 09-15-26   193,000 186,538
Societe Generale SA (10.000% to 5-14-29, then 5 Year CMT + 5.448%) (A)(B) 10.000 11-14-28   182,000 195,707
The Bank of Nova Scotia (8.625% to 10-27-27, then 5 Year CMT + 4.389%) 8.625 10-27-82   375,000 387,690
The PNC Financial Services Group, Inc. (6.000% to 5-15-27, then 5 Year CMT + 3.000%) (B) 6.000 05-15-27   542,000 536,069
The PNC Financial Services Group, Inc. (6.200% to 9-15-27, then 5 Year CMT + 3.238%) (B) 6.200 09-15-27   584,000 583,615
The PNC Financial Services Group, Inc. (6.250% to 3-15-30, then 7 Year CMT + 2.808%) (B) 6.250 03-15-30   288,000 283,347
Wells Fargo & Company (6.850% to 9-15-29, then 5 Year CMT + 2.767%) (B) 6.850 09-15-29   263,000 265,869
Wells Fargo & Company (7.625% to 9-15-28, then 5 Year CMT + 3.606%) (B) 7.625 09-15-28   400,000 421,086
Capital markets 4.4%        
Brookfield Finance, Inc. (6.300% to 1-15-35, then 5 Year CMT + 2.076%) 6.300 01-15-55   500,000 475,507
Deutsche Bank AG (4.789% to 4-30-25, then 5 Year SOFR Spread-Adjusted ICE Swap Rate + 4.358%) (B) 4.789 04-30-25   200,000 198,000
State Street Corp. (6.700% to 3-15-29, then 5 Year CMT + 2.613%) (B) 6.700 03-15-29   551,000 552,945
The Bank of New York Mellon Corp. (6.300% to 3-20-30, then 5 Year CMT + 2.297%) (B) 6.300 03-20-30   380,000 381,682
The Charles Schwab Corp. (4.000% to 12-1-30, then 10 Year CMT + 3.079%) (B) 4.000 12-01-30   228,000 198,951
The Charles Schwab Corp. (5.000% to 6-1-27, then 5 Year CMT + 3.256%) (B) 5.000 06-01-27   230,000 224,339
The Goldman Sachs Group, Inc. (6.125% to 11-10-34, then 10 Year CMT + 2.400%) (B) 6.125 11-10-34   453,000 427,103
The Goldman Sachs Group, Inc. (7.500% to 2-10-29, then 5 Year CMT + 3.156%) (B) 7.500 02-10-29   420,000 434,881
The Goldman Sachs Group, Inc. (7.500% to 5-10-29, then 5 Year CMT + 2.809%) (B) 7.500 05-10-29   282,000 287,573
Consumer finance 0.4%        
Discover Financial Services (6.125% to 9-23-25, then 5 Year CMT + 5.783%) (B) 6.125 06-23-25   312,000 311,435
Financial services 1.7%        
Apollo Global Management, Inc. (6.000% to 12-15-34, then 5 Year CMT + 2.168%) 6.000 12-15-54   375,000 351,235
Equitable Holdings, Inc. (6.700% to 3-28-35, then 5 Year CMT + 2.390%) 6.700 03-28-55   700,000 691,075
Voya Financial, Inc. (B) 7.758 09-15-28   167,000 169,347
Insurance 3.6%        
Athene Holding, Ltd. (6.625% to 10-15-34, then 5 Year CMT + 2.607%) 6.625 10-15-54   150,000 144,125
Global Atlantic Financial Company (7.950% to 10-15-29, then 5 Year CMT + 3.608%) (A) 7.950 10-15-54   574,000 582,908
Meiji Yasuda Life Insurance Company (6.100% to 6-11-35, then 5 Year CMT + 2.911%) (A) 6.100 06-11-55   500,000 493,105
Nippon Life Insurance Company (6.500% to 4-30-25, then 5 Year CMT + 3.189%) (A) 6.500 04-30-55   351,000 356,101
Reinsurance Group of America, Inc. (6.650% to 9-15-35, then 5 Year CMT + 2.392%) 6.650 09-15-55   480,000 465,106
SBL Holdings, Inc. (6.500% to 11-13-26, then 5 Year CMT + 5.620%) (A)(B) 6.500 11-13-26   341,000 298,409
SBL Holdings, Inc. (7.000% to 5-13-25, then 5 Year CMT + 5.580%) (A)(B) 7.000 05-13-30   259,000 244,649
Health care 0.9%       657,506
Health care providers and services 0.9%        
CVS Health Corp. (7.000% to 3-10-30, then 5 Year CMT + 2.886%) 7.000 03-10-55   650,000 657,506
Industrials 1.4%       1,013,230
Machinery 0.4%        
Stanley Black & Decker, Inc. (6.707% to 3-15-30, then 5 Year CMT + 2.657%) 6.707 03-15-60   285,000 273,799
Trading companies and distributors 1.0%        
Air Lease Corp. (6.000% to 12-15-29, then 5 Year CMT + 2.560%) (B) 6.000 09-24-29   790,000 739,431
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 46
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Real estate 0.6%       $437,456
Residential REITs 0.6%        
BW Real Estate, Inc. (9.500% to 3-30-30, then 5 Year CMT + 5.402%) (A)(B) 9.500 03-30-30   445,000 437,456
Utilities 16.6%       11,950,483
Electric utilities 7.0%        
Brookfield Infrastructure Finance ULC (6.750% to 3-15-30, then 5 Year CMT + 2.453%) 6.750 03-15-55   538,000 517,467
Duke Energy Corp. (6.450% to 9-1-34, then 5 Year CMT + 2.588%) 6.450 09-01-54   580,000 581,219
Entergy Corp. (7.125% to 12-1-29, then 5 Year CMT + 2.670%) 7.125 12-01-54   498,000 500,707
EUSHI Finance, Inc. (7.625% to 12-15-29, then 5 Year CMT + 3.136%) 7.625 12-15-54   554,000 556,469
Evergy, Inc. (6.650% to 6-1-30, then 5 Year CMT + 2.558%) 6.650 06-01-55   725,000 704,807
Exelon Corp. (6.500% to 3-15-35, then 5 Year CMT + 1.975%) 6.500 03-15-55   690,000 686,003
NextEra Energy Capital Holdings, Inc. (6.375% to 8-15-30, then 5 Year CMT + 2.053%) 6.375 08-15-55   250,000 250,527
NRG Energy, Inc. (10.250% to 3-15-28, then 5 Year CMT + 5.920%) (A)(B) 10.250 03-15-28   448,000 490,805
PG&E Corp. (7.375% to 3-15-30, then 5 Year CMT + 3.883%) 7.375 03-15-55   798,000 774,691
Gas utilities 2.1%        
AltaGas, Ltd. (7.200% to 10-15-34, then 5 Year CMT + 3.573%) (A) 7.200 10-15-54   800,000 781,293
Northwest Natural Holding Company (7.000% to 9-15-35, then 5 Year CMT + 2.701%) 7.000 09-15-55   725,000 705,058
Independent power and renewable electricity producers 2.6%        
The AES Corp. (7.600% to 1-15-30, then 5 Year CMT + 3.201%) 7.600 01-15-55   696,000 687,692
Vistra Corp. (8.000% to 10-15-26, then 5 Year CMT + 6.930%) (A)(B) 8.000 10-15-26   549,000 561,110
Vistra Corp. (8.875% to 1-15-29, then 5 Year CMT + 5.045%) (A)(B) 8.875 01-15-29   587,000 617,657
Multi-utilities 4.9%        
CenterPoint Energy, Inc. (6.850% to 2-15-35, then 5 Year CMT + 2.946%) 6.850 02-15-55   819,000 817,793
CMS Energy Corp. (6.500% to 6-1-35, then 5 Year CMT + 1.961%) 6.500 06-01-55   772,000 752,654
Dominion Energy, Inc. (6.625% to 5-15-35, then 5 Year CMT + 2.207%) 6.625 05-15-55   650,000 639,073
NiSource, Inc. (6.375% to 3-31-35, then 5 Year CMT + 2.527%) 6.375 03-31-55   471,000 459,509
NiSource, Inc. (6.950% to 11-30-29, then 5 Year CMT + 2.451%) 6.950 11-30-54   188,000 190,492
Sempra (6.400% to 10-1-34, then 5 Year CMT + 2.632%) 6.400 10-01-54   532,000 485,233
Sempra (6.875% to 10-1-29, then 5 Year CMT + 2.789%) 6.875 10-01-54   197,000 190,224
Convertible bonds 0.3%     $261,198
(Cost $210,000)          
Utilities 0.3%       261,198
Electric utilities 0.3%        
TXNM Energy, Inc. (A) 5.750 06-01-54   210,000 261,198
Capital preferred securities 0.4%     $288,946
(Cost $292,409)          
Financials 0.4%       288,946
Insurance 0.4%        
MetLife Capital Trust IV (7.875% to 12-15-37, then 3 month CME Term SOFR + 4.222%) (A) 7.875 12-15-37   268,000 288,946
    
        Shares Value
Preferred securities 45.8%     $33,018,840
(Cost $33,860,330)          
Communication services 2.8%       2,004,019
Diversified telecommunication services 1.0%        
AT&T, Inc., 5.000%       35,000 702,450
Wireless telecommunication services 1.8%        
Telephone & Data Systems, Inc., 6.000%       28,405 527,481
Telephone & Data Systems, Inc., 6.625%       14,975 311,929
U.S. Cellular Corp., 6.250%       19,583 462,159
Consumer discretionary 0.2%       147,815
Broadline retail 0.2%        
QVC Group, Inc., 8.000%       3,375 92,003
QVC, Inc., 6.250%       6,271 55,812
47 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Financials 31.1%       $22,434,359
Banks 11.8%        
Associated Banc-Corp., 6.625% (6.625% to 3-1-28, then 5 Year CMT + 2.812%)       15,000 354,750
Bank of America Corp., 6.450%       9,313 236,830
Bank of America Corp., 7.250%       476 556,958
Bank of America Corp., 5.000%       23,150 470,177
Bank of Hawaii Corp., 8.000%       8,589 218,934
Citigroup Capital XIII, 10.911% (3 month CME Term SOFR + 6.632%) (C)       22,924 683,135
Citizens Financial Group, Inc., 7.375%       17,654 463,771
Fifth Third Bancorp, 6.000%       13,530 329,861
First Citizens BancShares, Inc., 5.375%       6,778 140,711
Huntington Bancshares, Inc., 6.875% (6.875% to 4-15-28, then 5 Year CMT + 2.704%)       10,356 261,696
JPMorgan Chase & Co., 4.200%       20,000 356,000
KeyCorp, 5.650%       19,620 429,874
KeyCorp, 6.125% (6.125% to 12-15-26, then 3 month CME Term SOFR + 4.154%)       10,419 263,184
KeyCorp, 6.200% (6.200% to 12-15-27, then 5 Year CMT + 3.132%)       17,498 429,226
M&T Bank Corp., 5.625% (5.625% to 12-15-26, then 3 month CME Term SOFR + 4.280%)       10,000 243,700
M&T Bank Corp., 7.500%       11,855 316,410
Regions Financial Corp., 4.450%       14,934 262,390
Regions Financial Corp., 6.950% (6.950% to 9-15-29, then 5 Year CMT + 2.771%)       19,500 487,500
Synovus Financial Corp., 7.893% (3 month CME Term SOFR + 3.614%) (C)       3,952 98,168
Synovus Financial Corp., 8.397% (5 Year CMT + 4.127%) (C)       21,229 541,127
Truist Financial Corp., 4.750%       23,775 454,103
U.S. Bancorp, 5.500%       13,175 293,407
Wells Fargo & Company, 7.500%       318 369,516
WesBanco, Inc., 6.750% (6.750% to 11-15-25, then 5 Year CMT + 6.557%)       8,492 214,083
Capital markets 4.6%        
Affiliated Managers Group, Inc., 6.750%       25,400 601,726
Brookfield Finance, Inc., 4.625%       20,085 311,719
Carlyle Finance LLC, 4.625%       2,077 35,122
KKR & Company, Inc., 6.250%       4,900 234,857
Morgan Stanley, 6.375%       18,672 453,356
Morgan Stanley, 6.500%       10,924 274,083
Morgan Stanley, 6.625%       5,533 139,100
Morgan Stanley, 6.875%       6,853 172,010
Morgan Stanley, 7.125%       11,656 293,731
The Bank of New York Mellon Corp., 6.150% (6.150% to 3-20-30, then 5 Year CMT + 2.161%)       10,200 256,224
TPG Operating Group II LP, 6.950%       22,131 529,816
Consumer finance 1.4%        
Capital One Financial Corp., 4.800%       5,000 90,800
Capital One Financial Corp., 5.000%       24,625 460,241
Synchrony Financial, 8.250% (8.250% to 5-15-29, then 5 Year CMT + 4.044%)       17,970 453,383
Financial services 2.7%        
Apollo Global Management, Inc., 7.625% (7.625% to 12-15-28, then 5 Year CMT + 3.226%)       19,020 504,981
Corebridge Financial, Inc., 6.375%       12,125 289,303
Jackson Financial, Inc., 8.000% (8.000% to 3-30-28, then 5 Year CMT + 3.728%)       9,543 247,641
KKR Group Finance Company IX LLC, 4.625%       29,664 511,704
National Rural Utilities Cooperative Finance Corp., 5.500%       17,751 418,924
Insurance 10.6%        
AEGON Funding Company LLC, 5.100%       20,547 413,406
American Financial Group, Inc., 5.125%       15,809 299,106
American National Group, Inc., 6.625% (6.625% to 9-1-25, then 5 Year CMT + 6.297%)       14,876 374,280
American National Group, Inc., 7.375%       17,450 434,854
Aspen Insurance Holdings, Ltd., 7.000%       23,375 551,183
Assurant, Inc., 5.250%       27,600 538,200
Athene Holding, Ltd., 6.350% (6.350% to 6-30-29, then 3 month LIBOR + 4.253%)       24,719 579,413
Athene Holding, Ltd., 7.750% (7.750% to 12-30-27, then 5 Year CMT + 3.962%)       21,735 545,766
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 48
Table of Contents
        Shares Value
Financials (continued)        
Insurance (continued)        
Brighthouse Financial, Inc., 6.600%       23,646 $473,629
Enstar Group, Ltd., 7.000% (7.000% to 9-1-28, then 3 month LIBOR + 4.015%)       2,003 42,704
F&G Annuities & Life, Inc., 7.300%       26,950 631,439
F&G Annuities & Life, Inc., 7.950%       17,743 453,689
Lincoln National Corp., 9.000%       13,486 365,740
Reinsurance Group of America, Inc., 7.125% (7.125% to 10-15-27, then 5 Year CMT + 3.456%)       21,287 546,650
RenaissanceRe Holdings, Ltd., 4.200%       34,646 541,517
The Allstate Corp., 7.375%       5,305 140,689
Unum Group, 6.250%       13,506 330,762
W.R. Berkley Corp., 5.100%       21,500 417,100
Industrials 0.3%       242,729
Trading companies and distributors 0.3%        
WESCO International, Inc., 10.625% (10.625% to 6-22-25, then 5 Year CMT + 10.325%)       9,545 242,729
Information technology 0.5%       385,247
Software 0.3%        
MicroStrategy, Inc., 10.000%       2,500 229,125
Technology hardware, storage and peripherals 0.2%        
Hewlett Packard Enterprise Company, 7.625%       3,110 156,122
Real estate 1.7%       1,202,438
Diversified REITs 0.2%        
Global Net Lease, Inc., 7.500%       7,000 161,070
Hotel and resort REITs 0.3%        
Pebblebrook Hotel Trust, 6.375%       12,147 222,290
Office REITs 0.5%        
Vornado Realty Trust, 5.400%       18,830 329,525
Specialized REITs 0.7%        
Public Storage, 4.625%       25,916 489,553
Utilities 9.2%       6,602,233
Electric utilities 5.1%        
Duke Energy Corp., 5.750%       15,543 387,798
NextEra Energy, Inc., 6.926%       2,590 99,715
NextEra Energy, Inc., 7.234%       14,450 612,969
PG&E Corp., 6.000%       13,800 600,162
SCE Trust VI, 5.000%       8,838 144,678
SCE Trust VII, 7.500%       31,822 733,497
SCE Trust VIII, 6.950%       7,162 157,063
The Southern Company, 4.950%       18,125 363,406
The Southern Company, 6.500%       23,500 599,955
Gas utilities 1.0%        
Spire, Inc., 5.900%       29,248 700,490
Multi-utilities 3.1%        
Algonquin Power & Utilities Corp., 8.552% (3 month CME Term SOFR + 4.272% to 7-1-29, then 3 month CME Term SOFR + 4.522% to 7-1-49, then 3 month CME Term SOFR + 5.272%) (C)       18,751 471,588
CMS Energy Corp., 5.625%       8,778 185,742
CMS Energy Corp., 5.875%       6,187 136,176
CMS Energy Corp., 5.875%       24,478 545,859
DTE Energy Company, 5.250%       18,772 397,403
Sempra, 5.750%       22,348 465,732
49 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Common stocks 0.5%     $328,531
(Cost $324,527)          
Utilities 0.5%       328,531
Multi-utilities 0.5%        
Algonquin Power & Utilities Corp.       61,065 328,531
    
    Yield (%)   Shares Value
Short-term investments 2.6%     $1,859,543
(Cost $1,859,329)          
Short-term funds 2.6%         1,859,543
John Hancock Collateral Trust (D) 4.2081(E)   185,895 1,859,543
Total investments (Cost $72,233,892) 99.3%       $71,547,617
Other assets and liabilities, net 0.7%       516,579
Total net assets 100.0%         $72,064,196
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME CME Group Published Rates
CMT Constant Maturity Treasury
ICE Intercontinental Exchange
LIBOR London Interbank Offered Rate
SOFR Secured Overnight Financing Rate
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $7,395,052 or 10.3% of the fund’s net assets as of 4-30-25.
(B) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(C) Variable rate obligation. The coupon rate shown represents the rate at period end.
(D) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(E) The rate shown is the annualized seven-day yield as of 4-30-25.
The fund had the following country composition as a percentage of net assets on 4-30-25:
United States 86.0%
Canada 9.5%
Japan 1.7%
Bermuda 1.6%
Other countries 1.2%
TOTAL 100.0%
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 50
Table of Contents
Financial statements
STATEMENTS OF ASSETS AND LIABILITIES 4-30-25
  Core Bond ETF Core Plus Bond ETF Corporate Bond ETF Dynamic Municipal Bond ETF High Yield ETF
Assets          
Unaffiliated investments, at value $9,919,187 $47,968,289 $55,067,086 $24,404,347 $33,970,068
Affiliated investments, at value 50,018 466,811 16,974 2,378,219 —
Total investments, at value 9,969,205 48,435,100 55,084,060 26,782,566 33,970,068
Receivable for futures variation margin — — — — —
Collateral held at broker for futures contracts — — — — —
Dividends and interest receivable 74,330 379,054 680,413 300,383 585,196
Receivable for investments sold — — — 55,451 90,900
Receivable for delayed delivery securities sold — — — 111,081 —
Receivable for securities lending income — 53 — — —
Receivable from affiliates 5,974 2,173 1,103 18,064 6,244
Other assets 43,642 57,804 6,316 4,929 13,858
Total assets 10,093,151 48,874,184 55,771,892 27,272,474 34,666,266
Liabilities          
Due to custodian — — — — 222
Payable for investments purchased 13,057 — — 213,885 90,867
Payable for delayed delivery securities purchased — — — 1,575,926 —
Payable upon return of securities loaned 9,225 69,880 — — —
Payable to affiliates          
Investment management fees — — — — —
Accounting and legal services fees 296 1,441 1,648 747 1,013
Transfer agent fees 833 833 5,000 5,000 5,000
Trustees’ fees 12 60 89 39 56
Other liabilities and accrued expenses 42,486 70,889 64,592 47,930 33,844
Total liabilities 65,909 143,103 71,329 1,843,527 131,002
Net assets $10,027,242 $48,731,081 $55,700,563 $25,428,947 $34,535,264
Net assets consist of          
Paid-in capital $9,997,137 $48,455,555 $59,036,552 $25,259,395 $34,672,152
Total distributable earnings (loss) 30,105 275,526 (3,335,989) 169,552 (136,888)
Net assets $10,027,242 $48,731,081 $55,700,563 $25,428,947 $34,535,264
Unaffiliated investments, at cost $9,905,426 $47,763,142 $55,880,131 $24,228,665 $34,306,731
Affiliated investments, at cost $50,014 $466,784 $16,969 $2,378,019 —
Securities loaned, at value $9,023 $68,355 — — —
Net asset value per share          
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.          
Net assets $10,027,242 $48,731,081 $55,700,563 $25,428,947 $34,535,264
Shares outstanding 400,000 1,950,000 2,650,000 1,000,000 1,375,000
Net asset value per share $25.07 $24.99 $21.02 $25.43 $25.12
51 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES 4-30-25
Continued
  Mortgage-Backed Securities ETF Preferred Income ETF
Assets    
Unaffiliated investments, at value $132,464,083 $69,688,074
Affiliated investments, at value 4,377,989 1,859,543
Total investments, at value 136,842,072 71,547,617
Receivable for futures variation margin 1,669 —
Collateral held at broker for futures contracts 125,000 —
Dividends and interest receivable 458,924 559,039
Receivable for investments sold — 35,852
Receivable for delayed delivery securities sold 1,454,331 —
Receivable for securities lending income — —
Receivable from affiliates — —
Other assets 6,699 6,587
Total assets 138,888,695 72,149,095
Liabilities    
Due to custodian — —
Payable for investments purchased — —
Payable for delayed delivery securities purchased 5,686,516 —
Payable upon return of securities loaned — —
Payable to affiliates    
Investment management fees 18,772 9,689
Accounting and legal services fees 3,501 1,906
Transfer agent fees 5,000 5,000
Trustees’ fees 156 92
Other liabilities and accrued expenses 70,596 68,212
Total liabilities 5,784,541 84,899
Net assets $133,104,154 $72,064,196
Net assets consist of    
Paid-in capital $135,587,593 $74,767,039
Total distributable earnings (loss) (2,483,439) (2,702,843)
Net assets $133,104,154 $72,064,196
Unaffiliated investments, at cost $133,318,585 $70,374,563
Affiliated investments, at cost $4,377,603 $1,859,329
Securities loaned, at value — —
Net asset value per share    
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.    
Net assets $133,104,154 $72,064,196
Shares outstanding 6,100,000 3,275,000
Net asset value per share $21.82 $22.00
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 52
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-25
  Core Bond ETF1 Core Plus Bond ETF1 Corporate Bond ETF Dynamic Municipal Bond ETF High Yield ETF2
Investment income          
Interest $182,828 $857,254 $2,928,752 $1,029,989 $2,506,140
Dividends from affiliated investments 1,890 9,723 15,187 32,301 —
Dividends from unaffiliated investments — — — — 15,155
Securities lending — 56 — — —
Less foreign taxes withheld — — — — —
Total investment income 184,718 867,033 2,943,939 1,062,290 2,521,295
Expenses          
Investment management fees 8,708 50,148 131,236 76,757 148,877
Accounting and legal services fees 682 3,022 9,580 4,274 6,069
Transfer agent fees 833 833 10,000 10,000 6,250
Trustees’ fees 310 432 1,644 995 1,140
Custodian fees 8,234 10,246 62,637 37,315 28,265
Printing and postage 6,490 6,475 19,996 16,306 21,892
Professional fees 34,516 42,789 31,203 61,188 102,413
Stock exchange listing fees 3,000 3,000 17,575 24,181 13,745
Other 110 46 8,089 5,611 4,331
Total expenses 62,883 116,991 291,960 236,627 332,982
Less expense reductions (52,348) (58,682) (133,383) (143,044) (160,648)
Net expenses 10,535 58,309 158,577 93,583 172,334
Net investment income 174,183 808,724 2,785,362 968,707 2,348,961
Realized and unrealized gain (loss)          
Net realized gain (loss) on          
Unaffiliated investments (6,486) (44,490) (431,171) 204,978 451,367
Affiliated investments 11 134 281 564 —
Futures contracts 1,825 9,472 — — —
Redemptions in-kind — (3,152) 184,727 — (32,968)
  (4,650) (38,036) (246,163) 205,542 418,399
Change in net unrealized appreciation (depreciation) of          
Unaffiliated investments 13,761 205,147 1,391,665 (547,804) (336,663)
Affiliated investments 4 27 4 213 —
Futures contracts — — — — —
  13,765 205,174 1,391,669 (547,591) (336,663)
Net realized and unrealized gain (loss) 9,115 167,138 1,145,506 (342,049) 81,736
Increase in net assets from operations $183,298 $975,862 $3,930,868 $626,658 $2,430,697
    
   
1 Period from 12-17-24 (commencement of operations) to 4-30-25.
2 Period from 5-1-24 (commencement of operations) to 4-30-25.
53 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-25
Continued
    
  Mortgage-Backed Securities ETF Preferred Income ETF
Investment income    
Interest $3,348,329 $1,509,818
Dividends from affiliated investments 61,703 53,697
Dividends from unaffiliated investments — 1,671,115
Securities lending — —
Less foreign taxes withheld — (4,788)
Total investment income 3,410,032 3,229,842
Expenses    
Investment management fees 223,107 231,603
Accounting and legal services fees 11,981 8,504
Transfer agent fees 10,000 10,000
Trustees’ fees 1,782 1,438
Custodian fees 71,947 66,216
Printing and postage 21,047 23,109
Professional fees 31,339 31,362
Stock exchange listing fees 17,075 17,575
Other 8,416 12,658
Total expenses 396,694 402,465
Less expense reductions (140,777) (147,189)
Net expenses 255,917 255,276
Net investment income 3,154,115 2,974,566
Realized and unrealized gain (loss)    
Net realized gain (loss) on    
Unaffiliated investments (234,486) (126,626)
Affiliated investments (453) 169
Futures contracts 29,358 —
Redemptions in-kind — 255,230
  (205,581) 128,773
Change in net unrealized appreciation (depreciation) of    
Unaffiliated investments 2,008,614 (510,826)
Affiliated investments 395 287
Futures contracts 106,551 —
  2,115,560 (510,539)
Net realized and unrealized gain (loss) 1,909,979 (381,766)
Increase in net assets from operations $5,064,094 $2,592,800
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 54
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
  Core Bond ETF Core Plus
Bond ETF 		Corporate
Bond ETF
  Period ended
4-30-251 		Period ended
4-30-251 		Year ended
4-30-25 		Year ended
4-30-24
Increase (decrease) in net assets        
From operations        
Net investment income $174,183 $808,724 $2,785,362 $1,381,387
Net realized loss (4,650) (38,036) (246,163) (969,908)
Change in net unrealized appreciation (depreciation) 13,765 205,174 1,391,669 (32,959)
Increase in net assets resulting from operations 183,298 975,862 3,930,868 378,520
Distributions to shareholders        
From earnings (156,056) (714,661) (2,826,237) (1,390,640)
From fund share transactions        
Shares issued 10,000,000 49,714,825 13,668,629 25,006,247
Shares repurchased — (1,244,945) (7,343,827) —
Total from fund share transactions 10,000,000 48,469,880 6,324,802 25,006,247
Total increase 10,027,242 48,731,081 7,429,433 23,994,127
Net assets        
Beginning of period — — 48,271,130 24,277,003
End of period $10,027,242 $48,731,081 $55,700,563 $48,271,130
Share activity        
Shares outstanding        
Beginning of period — — 2,350,000 1,150,000
Shares issued 400,000 2,000,000 650,000 1,200,000
Shares repurchased — (50,000) (350,000) —
End of period 400,000 1,950,000 2,650,000 2,350,000
    
   
1 Period from 12-17-24 (commencement of operations) to 4-30-25.
55 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
Continued
    
  Dynamic Municipal
Bond ETF 		High Yield
ETF
  Year ended
4-30-25 		Period ended
4-30-242 		Period ended
4-30-253
Increase (decrease) in net assets      
From operations      
Net investment income $968,707 $442,666 $2,348,961
Net realized gain 205,542 568,695 418,399
Change in net unrealized appreciation (depreciation) (547,591) 723,473 (336,663)
Increase in net assets resulting from operations 626,658 1,734,834 2,430,697
Distributions to shareholders      
From earnings (1,799,956) (391,984) (2,618,518)
From fund share transactions      
Shares issued 5,175,079 21,349,127 36,566,569
Shares repurchased (1,264,811) — (1,843,484)
Total from fund share transactions 3,910,268 21,349,127 34,723,085
Total increase 2,736,970 22,691,977 34,535,264
Net assets      
Beginning of period 22,691,977 — —
End of period $25,428,947 $22,691,977 $34,535,264
Share activity      
Shares outstanding      
Beginning of period 850,000 — —
Shares issued 200,000 850,000 1,450,000
Shares repurchased (50,000) — (75,000)
End of period 1,000,000 850,000 1,375,000
    
   
2 Period from 11-1-23 (commencement of operations) to 4-30-24.
3 Period from 5-1-24 (commencement of operations) to 4-30-25.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 56
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
Continued
    
  Mortgage-Backed
Securities ETF 		Preferred
Income ETF
  Year ended
4-30-25 		Year ended
4-30-24 		Year ended
4-30-25 		Year ended
4-30-24
Increase (decrease) in net assets        
From operations        
Net investment income $3,154,115 $1,417,319 $2,974,566 $2,154,588
Net realized gain (loss) (205,581) (955,808) 128,773 (462,666)
Change in net unrealized appreciation (depreciation) 2,115,560 (173,351) (510,539) 1,576,555
Increase in net assets resulting from operations 5,064,094 288,160 2,592,800 3,268,477
Distributions to shareholders        
From earnings (3,053,345) (1,574,179) (2,928,285) (2,180,319)
From fund share transactions        
Shares issued 90,841,575 22,256,050 36,580,023 13,782,470
Shares repurchased — (7,439,282) (2,307,648) (1,563,406)
Total from fund share transactions 90,841,575 14,816,768 34,272,375 12,219,064
Total increase 92,852,324 13,530,749 33,936,890 13,307,222
Net assets        
Beginning of period 40,251,830 26,721,081 38,127,306 24,820,084
End of period $133,104,154 $40,251,830 $72,064,196 $38,127,306
Share activity        
Shares outstanding        
Beginning of period 1,925,000 1,225,000 1,750,000 1,175,000
Shares issued 4,175,000 1,050,000 1,625,000 650,000
Shares repurchased — (350,000) (100,000) (75,000)
End of period 6,100,000 1,925,000 3,275,000 1,750,000
57 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Financial Highlights
CORE BOND ETF
Period ended 4-30-251
Per share operating performance  
Net asset value, beginning of period $25.00
Net investment income2 0.44
Net realized and unrealized gain (loss) on investments 0.02
Total from investment operations 0.46
Less distributions  
From net investment income (0.39)
Net asset value, end of period $25.07
Total return (%)3 1.854
Ratios and supplemental data  
Net assets, end of period (in millions) $10
Ratios (as a percentage of average net assets):  
Expenses before reductions 1.445
Expenses including reductions 0.295
Net investment income 4.806
Portfolio turnover (%) 67
    
   
1 Period from 12-17-24 (commencement of operations) to 4-30-25.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
CORE PLUS BOND ETF
Period ended 4-30-251
Per share operating performance  
Net asset value, beginning of period $25.00
Net investment income2 0.46
Net realized and unrealized gain (loss) on investments (0.09)3
Total from investment operations 0.37
Less distributions  
From net investment income (0.38)
Net asset value, end of period $24.99
Total return (%)4 1.505
Ratios and supplemental data  
Net assets, end of period (in millions) $49
Ratios (as a percentage of average net assets):  
Expenses before reductions 0.666
Expenses including reductions 0.366
Net investment income 5.007
Portfolio turnover (%) 668
    
   
1 Period from 12-17-24 (commencement of operations) to 4-30-25.
2 Based on average daily shares outstanding.
3 The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the issuances and repurchases of shares in relation to fluctuating market values of the investments of the fund.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Not annualized.
6 Annualized. Certain expenses are presented unannualized.
7 Annualized.
8 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 58
Table of Contents
CORPORATE BOND ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-22 4-30-211
Per share operating performance          
Net asset value, beginning of period $20.54 $21.11 $21.81 $25.23 $25.00
Net investment income2 1.08 0.97 0.72 0.60 0.05
Net realized and unrealized gain (loss) on investments 0.50 (0.58) (0.62) (3.23) 0.22
Total from investment operations 1.58 0.39 0.10 (2.63) 0.27
Less distributions          
From net investment income (1.10) (0.96) (0.80) (0.79) (0.04)
Net asset value, end of period $21.02 $20.54 $21.11 $21.81 $25.23
Total return (%)3 7.74 1.91 0.57 (10.77) 1.104
Ratios and supplemental data          
Net assets, end of period (in millions) $56 $48 $24 $19 $20
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.53 0.76 0.98 0.94 0.725
Expenses including reductions 0.29 0.29 0.29 0.29 0.295
Net investment income 5.09 4.70 3.45 2.39 2.276
Portfolio turnover (%) 457 497 377 36 —8
    
   
1 Period from 3-30-21 (commencement of operations) to 4-30-21.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
7 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
8 Portfolio turnover for the period is 0% due to no sales activity.
DYNAMIC MUNICIPAL BOND ETF
Period ended 4-30-25 4-30-241
Per share operating performance    
Net asset value, beginning of period $26.70 $25.00
Net investment income2 1.06 0.54
Net realized and unrealized gain (loss) on investments (0.32) 1.63
Total from investment operations 0.74 2.17
Less distributions    
From net investment income (2.01) (0.47)
Net asset value, end of period $25.43 $26.70
Total return (%)3 2.79 8.664
Ratios and supplemental data    
Net assets, end of period (in millions) $25 $23
Ratios (as a percentage of average net assets):    
Expenses before reductions 0.99 0.725
Expenses including reductions 0.39 0.395
Net investment income 4.04 4.026
Portfolio turnover (%) 83 113
    
   
1 Period from 11-1-23 (commencement of operations) to 4-30-24.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
59 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
HIGH YIELD ETF
Period ended 4-30-251
Per share operating performance  
Net asset value, beginning of period $25.00
Net investment income2 1.82
Net realized and unrealized gain (loss) on investments 0.29
Total from investment operations 2.11
Less distributions  
From net investment income (1.99)
Net asset value, end of period $25.12
Total return (%)3 8.54
Ratios and supplemental data  
Net assets, end of period (in millions) $35
Ratios (as a percentage of average net assets):  
Expenses before reductions 1.00
Expenses including reductions 0.52
Net investment income 7.06
Portfolio turnover (%) 2524
    
   
1 Period from 5-1-24 (commencement of operations) to 4-30-25.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
MORTGAGE-BACKED SECURITIES ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-221
Per share operating performance        
Net asset value, beginning of period $20.91 $21.81 $22.77 $25.00
Net investment income2 1.04 0.88 0.84 0.38
Net realized and unrealized gain (loss) on investments 0.87 (0.81) (0.88) (2.22)
Total from investment operations 1.91 0.07 (0.04) (1.84)
Less distributions        
From net investment income (1.00) (0.97) (0.92) (0.39)
Net asset value, end of period $21.82 $20.91 $21.81 $22.77
Total return (%)3 9.28 0.30 (0.03) (7.43)4
Ratios and supplemental data        
Net assets, end of period (in millions) $133 $40 $27 $25
Ratios (as a percentage of average net assets):        
Expenses before reductions 0.60 0.78 0.97 0.935
Expenses including reductions 0.39 0.39 0.39 0.395
Net investment income 4.81 4.13 3.85 2.206
Portfolio turnover (%) 67 53 20 33
    
   
1 Period from 8-18-21 (commencement of operations) to 4-30-22. 
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 60
Table of Contents
PREFERRED INCOME ETF
Period ended 4-30-25 4-30-24 4-30-23 4-30-221
Per share operating performance        
Net asset value, beginning of period $21.79 $21.12 $23.32 $25.00
Net investment income2 1.42 1.42 1.32 0.43
Net realized and unrealized gain (loss) on investments 0.163 0.68 (2.19) (1.68)
Total from investment operations 1.58 2.10 (0.87) (1.25)
Less distributions        
From net investment income (1.37) (1.43) (1.33) (0.43)
Net asset value, end of period $22.00 $21.79 $21.12 $23.32
Total return (%)4 7.30 10.29 (3.81) (5.05)5
Ratios and supplemental data        
Net assets, end of period (in millions) $72 $38 $25 $15
Ratios (as a percentage of average net assets):        
Expenses before reductions 0.85 0.96 1.55 1.156
Expenses including reductions 0.54 0.54 0.54 0.546
Net investment income 6.29 6.69 5.93 4.577
Portfolio turnover (%) 298 30 478 15
    
   
1 Period from 12-14-21 (commencement of operations) to 4-30-22. 
2 Based on average daily shares outstanding.
3 The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the issuances and repurchases of shares in relation to fluctuating market values of the investments of the fund.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Not annualized.
6 Annualized. Certain expenses are presented unannualized.
7 Annualized.
8 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
61 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Notes to financial statements
Note 1—Organization
John Hancock Exchange-Traded Fund Trust (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, seven of which are presented in this report (the funds). 
The investment objective of Core Bond ETF is to seek a high level of current income consistent with preservation of capital and maintenance of liquidity.
The investment objective of Core Plus Bond ETF is to seek a high level of current income consistent with prudent investment risk.
The investment objective of Corporate Bond ETF is to seek a high level of current income consistent with prudent investment risk.
The investment objective of Dynamic Municipal Bond ETF is to seek a high level of interest income exempt from federal income tax.
The investment objective of High Yield ETF is to seek to maximize current income. Capital appreciation is a secondary goal.
The investment objective of Mortgage-Backed Securities ETF is to seek a high level of current income while seeking to outperform the benchmark over a market cycle.
The investment objective of Preferred Income ETF is to seek a high level of current income, consistent with preservation of capital.
High Yield ETF commenced operations on May 1, 2024.
Core Bond ETF commenced operations on December 17, 2024.
Core Plus Bond ETF commenced operations on December 17, 2024.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The funds qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the funds:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the funds’ valuation designee.
In order to value the securities, the funds use the following valuation techniques: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the funds in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.
The funds use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 62
Table of Contents
The following is a summary of the values by input classification of the funds’ investments as of April 30, 2025, by major security category or type:
  Total
value at
4-30-25 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Core Bond ETF        
Investments in securities:        
Assets        
U.S. Government and Agency obligations   $5,928,791 —   $5,928,791 —
Corporate bonds   2,793,467 —   2,793,467 —
Collateralized mortgage obligations   418,920 —   418,920 —
Asset-backed securities   778,009 —   778,009 —
Short-term investments   50,018   $50,018 — —
Total investments in securities   $9,969,205   $50,018   $9,919,187 —
 
Core Plus Bond ETF        
Investments in securities:        
Assets        
U.S. Government and Agency obligations   $27,372,693 —   $27,372,693 —
Corporate bonds   17,210,517 —   17,210,517 —
Collateralized mortgage obligations   1,261,545 —   1,261,545 —
Asset-backed securities   2,123,534 —   2,123,534 —
Short-term investments   466,811   $466,811 — —
Total investments in securities   $48,435,100   $466,811   $47,968,289 —
 
Corporate Bond ETF        
Investments in securities:        
Assets        
Corporate bonds   $55,067,086 —   $55,067,086 —
Short-term investments   16,974   $16,974 — —
Total investments in securities   $55,084,060   $16,974   $55,067,086 —
 
Dynamic Municipal Bond ETF        
Investments in securities:        
Assets        
Municipal bonds   $24,404,347 —   $24,404,347 —
Short-term investments   2,378,219   $2,378,219 — —
Total investments in securities   $26,782,566   $2,378,219   $24,404,347 —
 
High Yield ETF        
Investments in securities:        
Assets        
Corporate bonds   $33,931,735 —   $33,931,735 —
Term loans   6,881 —   6,881 —
Short-term investments   31,452   $31,452 — —
Total investments in securities   $33,970,068   $31,452   $33,938,616 —
 
Mortgage-Backed Securities ETF        
Investments in securities:        
Assets        
U.S. Government and Agency obligations   $89,395,775 —   $89,395,775 —
Collateralized mortgage obligations   25,763,521 —   25,763,521 —
Asset-backed securities   17,304,787 —   17,304,787 —
Short-term investments   4,377,989   $4,377,989 — —
Total investments in securities   $136,842,072   $4,377,989   $132,464,083 —
Derivatives:        
Assets        
63 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
  Total
value at
4-30-25 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Mortgage-Backed Securities ETF (continued)        
Futures   $47,253   $47,253 — —
 
Preferred Income ETF        
Investments in securities:        
Assets        
Corporate bonds   $35,790,559 —   $35,790,559 —
Convertible bonds   261,198 —   261,198 —
Capital preferred securities   288,946 —   288,946 —
Preferred securities   33,018,840   $33,018,840 — —
Common stocks   328,531   328,531 — —
Short-term investments   1,859,543   1,859,543 — —
Total investments in securities   $71,547,617   $35,206,914   $36,340,703 —
Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the funds may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the funds may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.
Mortgage and asset-backed securities. The funds may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the funds having to reinvest the proceeds in lower yielding securities, effectively reducing the funds’ income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the funds’ cash available for reinvestment in higher yielding securities.  The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g., FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The funds are also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.
Real estate investment trusts. The funds may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the funds will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Securities lending. The funds may lend their securities to earn additional income. The funds receive collateral from the borrower in an amount not less than the market value of the loaned securities. The funds may invest their cash collateral in JHCT, an affiliate of the funds, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a government money market fund and invests in U.S. Government securities and/or repurchase agreements. Prior to September 27, 2024, JHCT was a prime money market fund investing in short-term money market investments. Each fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.
The funds have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the funds for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the funds could experience
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 64
Table of Contents
a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the funds will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The funds receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the funds is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.
Obligations to repay collateral received by the funds are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the funds and the corresponding cash collateral received at April 30, 2025.
In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the funds, and accordingly, is not reflected in the funds’ net assets.
Fund Market value of securities on loan Cash collateral received Non-cash collateral
Core Bond ETF   $9,023   $9,225   —
Core Plus Bond ETF   68,355   69,880   —
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The funds may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the funds’ understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the funds as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The funds may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the funds’ custodian agreement, the custodian may loan money to the funds to make properly authorized payments. The funds are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The funds and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 14, 2025 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.
A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating fund based on an asset-based allocation and is reflected in Other expenses on the Statements of operations. For the year ended April 30, 2025, the funds had no borrowings under the line of credit.
Commitment fees for the year ended April 30, 2025 were as follows:
Fund Commitment fee
Core Bond ETF   $14
Core Plus Bond ETF   72
Corporate Bond ETF   964
High Yield ETF   232
Mortgage-Backed Securities ETF   1,016
Preferred Income ETF   915
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and each fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known. Core Bond ETF, Core Plus Bond ETF and High Yield ETF incurred offering costs of $53,000, $75,000 and $90,987, respectively, which are amortized over each fund’s first year of operations. During the period ended April 30, 2025, $19,312, $27,329 and $90,987 of offering costs were expensed by Core Bond ETF, Core Plus Bond ETF and High Yield ETF, respectively, and are included in Professional fees and Printing and postage. At April 30, 2025, $33,688 and $47,671 of unamortized offering costs are included in Other assets within the Statements of assets and liabilities for Core Bond ETF and Core Plus Bond ETF, respectively.
Federal income taxes. Each fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
65 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
For federal income tax purposes, as of April 30, 2025, certain funds have short-term and long-term capital loss carryforwards available to offset future net realized capital gains. These carryforwards do not expire. The following table details the capital loss carryforwards available as of April 30, 2025:
  No Expiration Date
Fund Short Term Long Term
Core Bond ETF   $4,729   —
Core Plus Bond ETF   30,510   —
Corporate Bond ETF   72,864   $2,472,724
Mortgage-Backed Securities ETF   134,220   1,731,271
Preferred Income ETF   1,339,035   763,213
Due to certain Internal Revenue Code rules, utilization of the capital loss carryforwards may be limited in future years.
As of April 30, 2025, the funds had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The funds’ federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
For federal income tax purposes, the costs of investments owned on April 30, 2025, including short-term investments, were as follows:
Fund Aggregate
cost 		Unrealized
appreciation 		Unrealized
(depreciation) 		Net unrealized
appreciation/
(depreciation)
Core Bond ETF   $9,957,388   $58,453   $(46,636)   $11,817
Core Plus Bond ETF   48,240,742   450,021   (255,663)   194,358
Corporate Bond ETF   56,007,022   420,464   (1,343,426)   (922,962)
Dynamic Municipal Bond ETF   26,569,023   461,714   (248,171)   213,543
High Yield ETF   34,373,707   289,599   (693,238)   (403,639)
Mortgage-Backed Securities ETF   137,782,021   1,085,690   (1,978,386)   (892,696)
Preferred Income ETF   72,294,648   1,040,535   (1,787,566)   (747,031)
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The funds generally declare and pay dividends from net investment income monthly. All funds generally declare and pay capital gain distributions, if any, annually.
The tax character of distributions for the year ended April 30, 2025 was as follows:
Fund Ordinary
Income 		Exempt
Income 		Long Term
Capital Gains 		Total
Core Bond ETF   $156,056 — —   $156,056
Core Plus Bond ETF   714,661 — —   714,661
Corporate Bond ETF   2,826,237 — —   2,826,237
Dynamic Municipal Bond ETF   888,101   $911,853   $2   1,799,956
High Yield ETF   2,618,518 — —   2,618,518
Mortgage-Backed Securities ETF   3,053,345 — —   3,053,345
Preferred Income ETF   2,928,285 — —   2,928,285
The tax character of distributions for the year ended April 30, 2024 was as follows:
Fund Ordinary
Income 		Exempt
Income 		Total
Corporate Bond ETF   $1,390,640 —   $1,390,640
Dynamic Municipal Bond ETF   8,471   $383,513   391,984
Mortgage-Backed Securities ETF   1,574,179 —   1,574,179
Preferred Income ETF   2,180,319 —   2,180,319
As of April 30, 2025, the components of distributable earnings on a tax basis were as follows:
Fund Undistributed
Ordinary Income 		Undistributed
Exempt Interest 		  Post-October
Deferral
Core Bond ETF   $23,017 —   —
Core Plus Bond ETF   111,678 —   —
Corporate Bond ETF   132,561 —   —
Dynamic Municipal Bond ETF —   $73,901     $117,892
High Yield ETF   266,751 —   —
Mortgage-Backed Securities ETF   274,748 —   —
Preferred Income ETF   153,119 —   —
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 66
Table of Contents
Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the funds’ financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to amortization and accretion on debt securities, wash sale loss deferrals and redemptions in-kind.
Note 3—Derivative instruments
The funds may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the funds are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the funds and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the funds to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the funds to unlimited risk of loss.
Upon entering into a futures contract, the funds are required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the funds, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the funds, if any, are identified in the Funds’ investments. Subsequent payments, referred to as variation margin, are made or received by the funds periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the funds. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, the funds record a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
The following table details how the funds used futures contracts during the year ended April 30, 2025. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
Fund Reason USD Notional range
Core Bond ETF The fund used futures contracts to manage against changes in interest rates. As of April 30, 2025, there were no open futures contracts. Up to $109,900, as measured during the period
Core Plus Bond ETF The fund used futures contracts to manage against changes in interest rates. As of April 30, 2025, there were no open futures contracts. Up to $654,200, as measured during the period
Mortgage-Backed Securities ETF The fund used futures contracts to manage against changes in interest rates. From $1.8 million to $2.4 million
Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the funds at April 30, 2025 by risk category:
Fund Risk Statements of
assets and
liabilities location 		Financial
instruments
location 		Assets
derivatives
fair value 		Liabilities
derivatives
fair value
Mortgage-Backed Securities ETF Interest rate Receivable/payable for futures variation margin1 Futures   $47,253 —
    
1 Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of Funds’ investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.
Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended April 30, 2025:
    Statements of operations location - Net realized gain (loss) on:
Fund Risk Futures contracts
Core Bond ETF Interest rate   $1,825
67 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
    Statements of operations location - Net realized gain (loss) on:
Fund Risk Futures contracts
Core Plus Bond ETF Interest rate   $9,472
Mortgage-Backed Securities ETF Interest rate   $29,358
The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended April 30, 2025:
    Statements of operations location - Change in net unrealized appreciation (depreciation) of:
Fund Risk Futures contracts
Mortgage-Backed Securities ETF Interest rate   $106,551
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the funds. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the funds. The Advisor is an indirect, principally owned subsidiary of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation (MFC).
Management fee. The funds have an investment management agreement with the Advisor under which each fund pays a monthly management fee to the Advisor equivalent on an annual basis as detailed below.
The management fee structure is as follows:
- Core Bond ETF - 0.24% of average daily net assets.
- Core Plus Bond ETF - 0.31% of average daily net assets.
- Corporate Bond ETF - 0.24% of average daily net assets.
- Dynamic Municipal Bond ETF - 0.32% of average daily net assets.
- High Yield ETF - 0.45% of average daily net assets.
- Mortgage-Backed Securities ETF - 0.34% of average daily net assets.
- Preferred Income ETF - 0.49% of average daily net assets.
The Advisor has subadvisory agreements with the organizations described below:
Fund Subadvisor(s)
High Yield ETF Marathon Asset Management, L.P.
Core Bond ETF
Core Plus Bond ETF
Corporate Bond ETF
Dynamic Municipal Bond ETF
Mortgage-Backed Securities ETF
Preferred Income ETF 		Manulife Investment Management (US) LLC1
1 An affiliate of the Advisor.
The funds are not responsible for payment of the subadvisory fees.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the funds (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of the funds. During the year ended April 30, 2025, this waiver amounted to 0.01% of the funds’ average daily net assets, on an annualized basis. This agreement expires on July 31, 2026, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor contractually agrees to reduce its management fee or, if necessary, make a payment to Core Bond ETF, Core Plus Bond ETF, Corporate Bond ETF, Dynamic Municipal Bond ETF, High Yield ETF, Mortgage-Backed Securities ETF and Preferred Income ETF in an amount equal to the amount by which expenses of the funds exceed 0.29%, 0.36%, 0.29%, 0.39%, 0.52%, 0.39% and 0.54%, respectively, of average daily net assets. Expenses means all the expenses of the funds, excluding (a) taxes, (b) brokerage commissions, (c) interest expense, (d) litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 68
Table of Contents
course of the funds’ business, (e) borrowing costs, (f) prime brokerage fees, (g) acquired fund fees and expenses paid indirectly, and (h) short dividend expense. This agreement expires on August 31, 2026 for Core Bond ETF and Core Plus Bond ETF, and this agreement expires on August 31, 2025 for Corporate Bond ETF, Dynamic Municipal Bond ETF, High Yield ETF, Mortgage-Backed Securities ETF and Preferred Income ETF, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The expense reductions described above amount to the following for the year ended April 30, 2025.
Fund Expense reimbursement
Core Bond ETF   $52,348
Core Plus Bond ETF   58,682
Corporate Bond ETF   133,383
Dynamic Municipal Bond ETF   143,044
Fund Expense reimbursement
High Yield ETF   $160,648
Mortgage-Backed Securities ETF   140,777
Preferred Income ETF   147,189
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended April 30, 2025, were equivalent to a net annual effective rate of the funds’ average daily net assets:
Fund Net Annual Effective Rate
Core Bond ETF 0.00%
Core Plus Bond ETF 0.00%
Corporate Bond ETF 0.00%
Dynamic Municipal Bond ETF 0.00%
Fund Net Annual Effective Rate
High Yield ETF 0.00%
Mortgage-Backed Securities ETF 0.13%
Preferred Income ETF 0.18%
 
Accounting and legal services. Pursuant to a service agreement, the funds reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the funds, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These accounting and legal services fees incurred, for the year ended April 30, 2025, amounted to an annual rate of 0.02% of the funds’ average daily net assets.
Trustee expenses. The funds compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on their net assets relative to other funds within the John Hancock group of funds complex.
Note 6—Capital share transactions
The funds will issue and redeem shares only in a large number of specified shares, each called a “creation unit,” or multiples thereof. The funds issue and redeem shares at NAV in creation units of 50,000 shares for Corporate Bond ETF and 25,000 shares for Core Bond ETF, Core Plus Bond ETF, Dynamic Municipal Bond ETF, High Yield ETF, Mortgage-Backed Securities ETF and Preferred Income ETF, respectively.
Only authorized participants may engage in creation or redemption transactions directly with the funds. Such transactions generally take place when an authorized participant deposits into a fund a designated portfolio of securities and/or cash in exchange for a specified number of creation units. Similarly, shares can be redeemed only in creation units, generally for a designated portfolio of securities and/or cash. For purposes of US GAAP, in-kind redemption transactions are treated as a sale of securities and any resulting gains and losses are recognized based on the market value of the securities on the date of the transfer. Authorized participants pay a transaction fee to the custodian when purchasing and redeeming creation units of the funds. The transaction fee is used to defray the costs associated with the issuance and redemption of creation units. Individual shares of the funds may only be purchased and sold in secondary market transactions through brokers. Secondary market transactions may be subject to brokerage commissions. Shares of the funds are listed and traded on the NYSE Arca, Inc., trade at market prices rather than NAV, and may trade at a price greater than or less than NAV.
Authorized participants transacting in creation or redemption of units for cash may also pay an additional variable charge to compensate the relevant fund for the costs associated with purchasing or selling the applicable securities. For the year ended April 30, 2025, such variable charges were $10,588, $4,483, $31,535, $90,751 and $70,727 for Core Plus Bond ETF, Dynamic Municipal Bond ETF, High Yield ETF, Mortgage-Backed Securities ETF and Preferred Income ETF, respectively. These charges are included in shares issued or repurchased on the Statements of Changes in Net Assets.
Affiliates of Core Bond ETF, Core Plus Bond ETF, Corporate Bond ETF, Dynamic Municipal Bond ETF, High Yield ETF, Mortgage-Backed Securities ETF and Preferred Income ETF owned 94%, 79%, 23%, 70%, 56%, 10% and 6%, respectively, of shares of the fund on April 30, 2025. Such concentration of shareholders’ capital could have a material effect on a fund if such shareholders redeem from the fund.
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments and in-kind transactions, are aggregated below for the year ended April 30, 2025. In addition, purchases and sales of in-kind transactions are aggregated below for the year ended April 30, 2025:
  Purchases Sales and maturities
Fund U.S. Treasury In-kind transactions Non in-kind transactions U.S. Treasury In-kind transactions Non in-kind transactions
Core Bond ETF   $7,604,785 —   $8,750,138   $5,581,123 —   $875,118
Core Plus Bond ETF   27,572,040   $16,681,338   33,379,649   24,132,268   $717,972   5,041,792
69 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
  Purchases Sales and maturities
Fund U.S. Treasury In-kind transactions Non in-kind transactions U.S. Treasury In-kind transactions Non in-kind transactions
Corporate Bond ETF —   $12,786,421   $24,113,367 —   $4,029,413   $26,775,251
Dynamic Municipal Bond ETF — —   21,506,477 — —   19,635,577
High Yield ETF — —   117,823,101 —   1,682,116   82,673,842
Mortgage-Backed Securities ETF   $5,397,829 —   125,901,177   $6,084,936 —   38,817,343
Preferred Income ETF —   1,169,100   47,386,011 —   2,272,419   13,841,732
Note 8—Industry or sector risk
The funds may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a fund’s assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund’s NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors. Financial services companies can be hurt by economic declines, changes in interest rates, and regulatory and market impacts.
Note 9—Investment in affiliated underlying funds
The funds may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the funds’ fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the funds, if any, is as follows:
              Dividends and distributions
Affiliate Ending
share
amount 		Beginning
value 		Cost of
purchases 		Proceeds
from shares
sold 		Realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Income
distributions
received 		Capital gain
distributions
received 		Ending
value
Core Bond ETF
John Hancock Collateral Trust* 5,000 —   $1,672,591   $(1,622,588)   $11   $4   $1,890 —   $50,018
Core Plus Bond ETF
John Hancock Collateral Trust* 46,666 —   $12,527,440   $(12,060,790)   $134   $27   $9,779 —   $466,811
Corporate Bond ETF
John Hancock Collateral Trust 1,697   $173,004   $6,483,456   $(6,639,771)   $281   $4   $15,187 —   $16,974
Dynamic Municipal Bond ETF
John Hancock Collateral Trust 237,746   $369,537   $16,330,184   $(14,322,279)   $564   $213   $32,301 —   $2,378,219
Mortgage-Backed Securities ETF
John Hancock Collateral Trust 437,659   $309,860   $45,756,452   $(41,688,265)   $(453)   $395   $61,703 —   $4,377,989
Preferred Income ETF
John Hancock Collateral Trust 185,895   $1,301,230   $32,581,873   $(32,024,016)   $169   $287   $53,697 —   $1,859,543
    
* Refer to the Securities lending note within Note 2 for details regarding this investment.
Note 10—New accounting pronouncement
In this reporting period, the funds adopted Financial Accounting Standards Board Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (ASU 2023-07). Adoption of the new standard impacted financial statement disclosures only and did not affect each fund’s financial position or the results of its operations. The management committee of the Advisor acts as the funds’ chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation.  Each fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund’s long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 70
Table of Contents
defined investment strategy which is executed by the portfolio management team of the fund’s subadvisor. Segment assets are reflected in the Statements of assets and liabilities as “Total assets”, which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes “Increase (decrease) in net assets from operations”, Statements of changes in net assets, which includes “Increase (decrease) in net assets from fund share transactions”, and Financial highlights, which includes total return and income and expense ratios.
71 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Trustees of John Hancock Exchange-Traded Fund Trust and Shareholders of Core Bond ETF, Core  Plus Bond ETF, Corporate Bond
ETF, Dynamic Municipal Bond ETF, High Yield ETF, Mortgage-Backed Securities ETF and Preferred Income ETF
Opinions on the Financial Statements      
We have audited the accompanying statements of assets and liabilities, including the funds’ investments, of Core Bond ETF, Core Plus Bond ETF, Corporate Bond ETF, Dynamic Municipal Bond ETF, High Yield ETF, Mortgage-Backed Securities ETF, and Preferred Income ETF (seven of the funds constituting John Hancock Exchange-Traded Fund Trust, hereafter collectively referred to as the "Funds") as of April 30, 2025, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of April 30, 2025, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.
Fund Statement of
operations 		Statements of
changes in net assets 		Financial Highlights
Core Bond ETF For the period December 17, 2024 (commencement of operations) through April 30, 2025. For the period December 17, 2024 (commencement of operations) through April 30, 2025. For the period December 17, 2024 (commencement of operations) through April 30, 2025.
Core Plus Bond ETF For the period December 17, 2024 (commencement of operations) through April 30, 2025. For the period December 17, 2024 (commencement of operations) through April 30, 2025. For the period December 17, 2024 (commencement of operations) through April 30, 2025.
Corporate Bond ETF For the year ended April 30, 2025. For the years ended April 30, 2025 and 2024. For the years ended April 30, 2025, 2024, 2023 and 2022, and for the period from March 30, 2021 (commencement of operations) to April 30, 2021.
Dynamic Municipal Bond  ETF For the year ended April 30, 2025. For the year ended April 30, 2025 and the period from November 1, 2023 (commencement of operations) through April 30, 2024. For the year ended April 30, 2025 and the period from November 1, 2023 (commencement of operations) through April 30, 2024.
High Yield ETF For the year ended April 30, 2025. For the period May 1, 2024 (commencement of operations) through April 30, 2025. For the period May 1, 2024 (commencement of operations) through April 30, 2025.
Mortgage-Backed Securities ETF For the year ended April 30, 2025. For the years ended April 30, 2025 and 2024. For the years ended April 30, 2025, 2024, and 2023, and for the period from August 18, 2021 (commencement of operations) through April 30, 2022.
Preferred Income ETF For the year ended April 30, 2025. For the years ended April 30, 2025 and 2024. For the years ended April 30, 2025, 2024, and 2023, and for the period from December 14, 2021 (commencement of operations) through April 30, 2022.
Basis for Opinions      
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 72
Table of Contents
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of April 30, 2025 by correspondence with the custodian, transfer agents, agent bank and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
June 6, 2025 		     
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
73 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the funds, if any, paid during its taxable year ended April 30, 2025.
For Dynamic Municipal Bond ETF, 97.45% of dividends from net investment income are exempt-interest dividends.
Each fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
Each fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Each fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
Each fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2025 Form 1099-DIV in early 2026. This will reflect the tax character of all distributions paid in calendar year 2025.
Please consult a tax advisor regarding the tax consequences of your investment in a fund.
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 74
Table of Contents
EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES
Approval of Advisory and Subadvisory Agreements
At meetings held on December 10-12, 2024, the Board of Trustees (the Board) of John Hancock Exchange-Traded Fund Trust (the Trust), including all of the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees), reviewed and approved the establishment of John Hancock Core Bond ETF (the New Fund). The Independent Trustees also met separately to evaluate and discuss the information presented, including with independent legal counsel to the Independent Trustees.
At the December 10-12, 2024 meeting, the Board considered and approved with respect to the New Fund:
(a)an amendment to the advisory agreement between the Trust and John Hancock Investment Management LLC (the Advisor) (the Advisory Agreement); and
(b)an amendment to the subadvisory agreement between the Advisor and Manulife Investment Management (US) LLC (the Subadvisor) (the Subadvisory Agreement).
In considering the amendments to the Advisory Agreement and the Subadvisory Agreement with respect to the New Fund, the Board received in advance of the meetings a variety of materials relating to the New Fund, the Advisor and the Subadvisor, including comparative fee and expense information for a group of comparable exchange-traded funds, and other information regarding the nature, extent, and quality of services to be provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s anticipated revenues and costs of providing services in connection with its proposed relationship to the New Fund and any compensation paid to affiliates of the Advisor. The Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to other John Hancock Funds, including other exchange-traded funds (the Funds), including quarterly performance reports prepared by management containing reviews of investment results and periodic presentations from the Subadvisor with respect to the other Funds that it manages. The information received and considered by the Board in connection with the December meetings and throughout the year (with respect to other Funds) was both written and oral. The Board took into account a presentation provided at the December meetings from the Subadvisor’s portfolio management team who would be responsible for the day-to-day portfolio management of the New Fund’s assets.  The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the New Fund by the Advisor and or its affiliates, including administrative services. The Board also took into account information with respect to the New Fund presented at its September 24-26, 2024 meeting. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the New Fund.
Throughout the process, the Board asked questions of and were afforded the opportunity to request additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed Advisory Agreement and Subadvisory Agreement and discussed the proposed Advisory Agreement and Subadvisory Agreement in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the New Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors.
The Board’s conclusions may have been based in part on relevant background information obtained in connection with its consideration of the advisory and subadvisory arrangements for other Funds in prior years.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent and quality of services to be provided to the New Fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the Funds’ compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board considered the investment strategy proposed for the New Fund. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the New Fund’s compliance programs, risk management programs, liquidity risk management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor would be responsible for the management of the day-to-day operations of the New Fund, including, but not limited to, general supervision and coordination of the services to be provided by the Subadvisor, and also would be responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers, including the New Fund’s distributor. The Board also considered the significant risks assumed by the Advisor in connection with the services to be provided to the New Fund, including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services to be provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management of other Funds and the quality of the performance of the Advisor’s duties with respect to other Funds, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
75 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a)the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationships, including with the Subadvisor, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance program, such as the Subadvisor’s compliance with fund policies and objectives; review of brokerage matters, including with respect to trade allocation and best execution; and the Advisor’s timeliness in responding to performance issues;
(b)the background, qualifications, and skills of the Advisor’s personnel;
(c)the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d)the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the New Fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the New Fund, and bringing loss recovery actions on behalf of the New Fund;
(e)the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the New Fund;
(f)the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the New Fund; and
(g)the Advisor’s reputation and experience in serving as an investment advisor to the Trust, and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to provide a high quality of services under the Advisory Agreement with respect to the New Fund.
Investment performance. In connection with its consideration of the Advisory Agreement, the Board considered the New Fund’s proposed investment strategy and processes, as well as the experience of the portfolio management team at the Subadvisor in managing a similar strategy as proposed to be used for the New Fund. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds managed by the Advisor and the Subadvisor. 
Fees and expenses. The Board reviewed comparative information including, among other data, the New Fund’s anticipated management fees and net total expenses as compared to similarly situated exchange-traded funds deemed to be comparable to the New Fund in light of the nature, extent, and quality of the investment management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board took into account management’s discussion of the New Fund’s anticipated expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the New Fund and the services they provide to other such comparable clients or funds.
The Board also took into account management’s discussion with respect to the proposed management fee and the fees of the Subadvisor, including the amount of the advisory fee to be retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor, and not the New Fund, would be responsible for paying the subadvisory fees. The Board also took into account that management has agreed to implement an overall fee waiver across a number of funds in the complex, including the New Fund, which is discussed further below.
The Board concluded that the advisory fees to be paid by the New Fund are reasonable in light of the nature, extent and quality of the services expected to be provided to the New Fund under the Advisory Agreement.
Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor’s relationship with the New Fund, the Board:
(a)reviewed financial information of the Advisor;
(b)noted that because the New Fund had not yet commenced operations, no actual revenue, cost or profitability data was available, although the Board received information from the Advisor on its projected profitability with respect to the New Fund;
(c)received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole;
(d)received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data;
(e)considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f)considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g)noted that the New Fund’s Subadvisor is an affiliate of the Advisor;
(h)noted that the Advisor will derive reputational and other indirect benefits from providing advisory services to the New Fund;
(i)noted that the subadvisory fee for the New Fund will be paid by Advisor; and
(j)considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it will provide to the New Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 76
Table of Contents
Based upon its review, the Board concluded that the anticipated level of profitability, if any, of the Advisor and its affiliates from their relationship with the New Fund is reasonable and not excessive.
Economies of scale. In considering the extent to which economies of scale would be realized if the New Fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
(a)considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the New Fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b)the Board also took into account management’s discussion of the New Fund’s advisory fee structure; 
(c)the Board also considered the potential effect of the New Fund’s future growth in size on its performance and fees; and
(d)the Board also noted that if the New Fund’s assets increase over time, the New Fund may realize other economies of scale.
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(a)information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); and
(b)the proposed subadvisory fee for the New Fund, including any breakpoints.
Nature, extent, and quality of services. With respect to the services to be provided by the Subadvisor, the Board received and reviewed information provided to the Board by the Subadvisor with respect to the New Fund and took into account information presented throughout the past year with respect to Funds in the complex managed by the Advisor and subadvised by the Subadvisor. The Board took into account a presentation provided at the December meetings from the Subadvisor’s portfolio management team who would be responsible for the day-to-day portfolio management of the New Fund’s assets.  The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as considered information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who will provide services to the New Fund. The Board considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular periodic reviews of the Subadvisor and its operations in regard to the Funds, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board also considered the experience of the portfolio management team that would be responsible for managing the New Fund’s assets.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the New Fund, the Board noted that the fees under the Subadvisory Agreement will be paid by the Advisor and not the New Fund. The Board also considered any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the New Fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the New Fund will pay an advisory fee to the Advisor and that, in turn, the Advisor will pay a subadvisory fee to the Subadvisor.
Subadvisor performance. As noted above, the Board considered the New Fund’s investment strategies and processes. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds, including other exchange-traded funds, managed by the Subadvisor. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1)the Subadvisor has extensive experience and demonstrated skills as a manager, and currently subadvises other Funds, including other exchange-traded funds, in the complex and the Board is generally satisfied with the Subadvisor’s management of these Funds, and may reasonably be expected to provide a high quality of investment management services to the New Fund;
(2)the proposed subadvisory fees are reasonable in relation to the level and quality of services to be provided under the Subadvisory Agreement; and
(3)that the subadvisory fees will be paid by the Advisor not the New Fund.
77 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, and assisted by the advice of independent legal counsel, the Board, including the Independent Trustees, concluded that approval of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the New Fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the amendments to the Advisory Agreement and the Subadvisory Agreement.
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 78
Table of Contents
EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES
Approval of Advisory and Subadvisory Agreements
At meetings held on December 10-12, 2024, the Board of Trustees (the Board) of John Hancock Exchange-Traded Fund Trust (the Trust), including all of the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees), reviewed and approved the establishment of John Hancock Core Plus Bond ETF (the New Fund). The Independent Trustees also met separately to evaluate and discuss the information presented, including with independent legal counsel to the Independent Trustees.
At the December 10-12, 2024 meeting, the Board considered and approved with respect to the New Fund:
(a)an amendment to the advisory agreement between the Trust and John Hancock Investment Management LLC (the Advisor) (the Advisory Agreement); and
(b)an amendment to the subadvisory agreement between the Advisor and Manulife Investment Management (US) LLC (the Subadvisor) (the Subadvisory Agreement).
In considering the amendments to the Advisory Agreement and the Subadvisory Agreement with respect to the New Fund, the Board received in advance of the meetings a variety of materials relating to the New Fund, the Advisor and the Subadvisor, including comparative fee and expense information for a group of comparable exchange-traded funds, and other information regarding the nature, extent, and quality of services to be provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s anticipated revenues and costs of providing services in connection with its proposed relationship to the New Fund and any compensation paid to affiliates of the Advisor. The Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to other John Hancock Funds, including other exchange-traded funds (the Funds), including quarterly performance reports prepared by management containing reviews of investment results and periodic presentations from the Subadvisor with respect to the other Funds that it manages. The information received and considered by the Board in connection with the December meetings and throughout the year (with respect to other Funds) was both written and oral. The Board took into account a presentation provided at the December meetings from the Subadvisor’s portfolio management team who would be responsible for the day-to-day portfolio management of the New Fund’s assets.  The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the New Fund by the Advisor and or its affiliates, including administrative services. The Board also took into account information with respect to the New Fund presented at its September 24-26, 2024 meeting. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the New Fund.
Throughout the process, the Board asked questions of and were afforded the opportunity to request additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed Advisory Agreement and Subadvisory Agreement and discussed the proposed Advisory Agreement and Subadvisory Agreement in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the New Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors.
The Board’s conclusions may have been based in part on relevant background information obtained in connection with its consideration of the advisory and subadvisory arrangements for other Funds in prior years.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent and quality of services to be provided to the New Fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the Funds’ compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board considered the investment strategy proposed for the New Fund. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the New Fund’s compliance programs, risk management programs, liquidity risk management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor would be responsible for the management of the day-to-day operations of the New Fund, including, but not limited to, general supervision and coordination of the services to be provided by the Subadvisor, and also would be responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers, including the New Fund’s distributor. The Board also considered the significant risks assumed by the Advisor in connection with the services to be provided to the New Fund, including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services to be provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management of other Funds and the quality of the performance of the Advisor’s duties with respect to other Funds, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
79 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a)the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationships, including with the Subadvisor, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance program, such as the Subadvisor’s compliance with fund policies and objectives; review of brokerage matters, including with respect to trade allocation and best execution; and the Advisor’s timeliness in responding to performance issues;
(b)the background, qualifications, and skills of the Advisor’s personnel;
(c)the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d)the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the New Fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the New Fund, and bringing loss recovery actions on behalf of the New Fund;
(e)the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the New Fund;
(f)the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the New Fund; and
(g)the Advisor’s reputation and experience in serving as an investment advisor to the Trust, and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to provide a high quality of services under the Advisory Agreement with respect to the New Fund.
Investment performance. In connection with its consideration of the Advisory Agreement, the Board considered the New Fund’s proposed investment strategy and processes, as well as the experience of the portfolio management team at the Subadvisor in managing a similar strategy as proposed to be used for the New Fund. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds managed by the Advisor and the Subadvisor. 
Fees and expenses. The Board reviewed comparative information including, among other data, the New Fund’s anticipated management fees and net total expenses as compared to similarly situated exchange-traded funds deemed to be comparable to the New Fund in light of the nature, extent, and quality of the investment management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board took into account management’s discussion of the New Fund’s anticipated expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the New Fund and the services they provide to other such comparable clients or funds.
The Board also took into account management’s discussion with respect to the proposed management fee and the fees of the Subadvisor, including the amount of the advisory fee to be retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor, and not the New Fund, would be responsible for paying the subadvisory fees. The Board also took into account that management has agreed to implement an overall fee waiver across a number of funds in the complex, including the New Fund, which is discussed further below.
The Board concluded that the advisory fees to be paid by the New Fund are reasonable in light of the nature, extent and quality of the services expected to be provided to the New Fund under the Advisory Agreement.
Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor’s relationship with the New Fund, the Board:
(a)reviewed financial information of the Advisor;
(b)noted that because the New Fund had not yet commenced operations, no actual revenue, cost or profitability data was available, although the Board received information from the Advisor on its projected profitability with respect to the New Fund;
(c)received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole;
(d)received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data;
(e)considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f)considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g)noted that the New Fund’s Subadvisor is an affiliate of the Advisor;
(h)noted that the Advisor will derive reputational and other indirect benefits from providing advisory services to the New Fund;
(i)noted that the subadvisory fee for the New Fund will be paid by Advisor; and
(j)considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it will provide to the New Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 80
Table of Contents
Based upon its review, the Board concluded that the anticipated level of profitability, if any, of the Advisor and its affiliates from their relationship with the New Fund is reasonable and not excessive.
Economies of scale. In considering the extent to which economies of scale would be realized if the New Fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
(a)considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the New Fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b)the Board also took into account management’s discussion of the New Fund’s advisory fee structure; 
(c)the Board also considered the potential effect of the New Fund’s future growth in size on its performance and fees; and
(d)the Board also noted that if the New Fund’s assets increase over time, the New Fund may realize other economies of scale.
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(a)information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); and
(b)the proposed subadvisory fee for the New Fund, including any breakpoints.
Nature, extent, and quality of services. With respect to the services to be provided by the Subadvisor, the Board received and reviewed information provided to the Board by the Subadvisor with respect to the New Fund and took into account information presented throughout the past year with respect to Funds in the complex managed by the Advisor and subadvised by the Subadvisor. The Board took into account a presentation provided at the December meetings from the Subadvisor’s portfolio management team who would be responsible for the day-to-day portfolio management of the New Fund’s assets.  The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as considered information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who will provide services to the New Fund. The Board considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular periodic reviews of the Subadvisor and its operations in regard to the Funds, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board also considered the experience of the portfolio management team that would be responsible for managing the New Fund’s assets.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the New Fund, the Board noted that the fees under the Subadvisory Agreement will be paid by the Advisor and not the New Fund. The Board also considered any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the New Fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the New Fund will pay an advisory fee to the Advisor and that, in turn, the Advisor will pay a subadvisory fee to the Subadvisor.
Subadvisor performance. As noted above, the Board considered the New Fund’s investment strategies and processes. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds, including other exchange-traded funds, managed by the Subadvisor. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1)the Subadvisor has extensive experience and demonstrated skills as a manager, and currently subadvises other Funds, including other exchange-traded funds, in the complex and the Board is generally satisfied with the Subadvisor’s management of these Funds, and may reasonably be expected to provide a high quality of investment management services to the New Fund;
(2)the proposed subadvisory fees are reasonable in relation to the level and quality of services to be provided under the Subadvisory Agreement; and
(3)that the subadvisory fees will be paid by the Advisor not the New Fund.
81 JOHN HANCOCK ACTIVE FIXED INCOME ETFS |   
Table of Contents
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, and assisted by the advice of independent legal counsel, the Board, including the Independent Trustees, concluded that approval of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the New Fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the amendments to the Advisory Agreement and the Subadvisory Agreement.
   | JOHN HANCOCK ACTIVE FIXED INCOME ETFS 82
Table of Contents
John Hancock Investment Management LLC, 200 Berkeley Street, Boston, MA 02116, 800-225-6020, jhinvestments.com/etf
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Active Fixed Income ETFs. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
JHAN-20180615-0136 ETF2A 4/2025
6/2025


Annual Financial Statements & Other N-CSR Items
John Hancock
Active Equity ETFs
April 30, 2025
John Hancock
Active Equity ETFs
Table of contents
2 Funds’ investments
12 Financial statements
16 Financial highlights
18 Notes to financial statements
24 Report of independent registered public accounting firm
25 Tax information
1 JOHN HANCOCK ACTIVE EQUITY ETFS |   
Table of Contents
Funds’ investments
DISCIPLINED VALUE INTERNATIONAL SELECT ETF
As of 4-30-25
        Shares Value
Common stocks 98.8%         $33,752,084
(Cost $29,697,469)          
Bermuda 2.2%         745,649
Everest Group, Ltd.   2,078 745,649
Canada 8.7%         2,975,042
Cenovus Energy, Inc.   46,897 551,030
Kinross Gold Corp.   81,154 1,195,601
MEG Energy Corp. (A)   30,859 432,066
Teck Resources, Ltd., Class B   23,479 796,345
Finland 2.9%         995,492
Nordea Bank Abp   72,738 995,492
France 13.5%         4,619,158
Airbus SE   5,106 854,037
BNP Paribas SA   6,862 579,490
Bureau Veritas SA   21,652 686,208
Capgemini SE   6,560 1,042,873
Rexel SA   26,197 726,320
Vallourec SACA (A)(B)   39,398 730,230
Germany 6.8%         2,328,341
Allianz SE   1,776 735,070
Infineon Technologies AG   17,597 577,898
Siemens AG   4,423 1,015,373
Ireland 1.0%         321,332
Ryanair Holdings PLC, ADR   6,714 321,332
Japan 17.0%         5,806,989
Asahi Group Holdings, Ltd.   44,200 611,221
Hitachi, Ltd.   32,000 789,232
Honda Motor Company, Ltd.   34,400 350,415
Mitsubishi Electric Corp.   73,500 1,422,439
Sony Group Corp.   60,400 1,596,806
Sumitomo Mitsui Financial Group, Inc.   43,500 1,036,876
Netherlands 7.0%         2,399,938
Heineken NV   9,901 885,765
ING Groep NV   34,483 666,924
Prosus NV (B)   18,212 847,249
South Korea 10.2%         3,477,534
KB Financial Group, Inc.   13,096 830,995
KT Corp.   18,383 669,884
NAVER Corp.   6,048 853,059
Samsung Fire & Marine Insurance Company, Ltd.   2,542 669,700
SK Hynix, Inc.   3,635 453,896
Switzerland 7.5%         2,546,823
Novartis AG   13,073 1,492,080
Sandoz Group AG   24,224 1,054,743
United Kingdom 19.4%         6,642,198
AstraZeneca PLC   7,120 1,020,253
BAE Systems PLC   70,146 1,625,122
Barratt Redrow PLC   108,990 678,102
Beazley PLC   59,322 700,846
IMI PLC   17,970 424,365
NatWest Group PLC   156,796 1,001,506
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 2
Table of Contents
        Shares Value
United Kingdom (continued)          
Shell PLC   19,825 $646,251
Tesco PLC   110,221 545,753
United States 2.6%         893,588
CRH PLC   9,511 893,588
    
Total investments (Cost $29,697,469) 98.8%     $33,752,084
Other assets and liabilities, net 1.2%     421,665
Total net assets 100.0%         $34,173,749
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) All or a portion of this security is on loan as of 4-30-25.
(B) Non-income producing security.
The fund had the following sector composition as a percentage of net assets on 4-30-25:
Financials 23.3%
Industrials 23.0%
Health care 10.4%
Consumer discretionary 10.2%
Materials 8.4%
Energy 6.9%
Information technology 6.1%
Consumer staples 6.0%
Communication services 4.5%
Other assets and liabilities, net 1.2%
TOTAL 100.0%
FUNDAMENTAL ALL CAP CORE ETF
As of 4-30-25
        Shares Value
Common stocks 94.4%         $3,718,515
(Cost $3,210,822)          
Communication services 10.6%     418,239
Entertainment 3.9%      
Liberty Media Corp.-Liberty Formula One, Series C (A)     1,247 110,571
Warner Brothers Discovery, Inc. (A)     4,960 43,003
Interactive media and services 6.7%      
Alphabet, Inc., Class A     1,436 228,037
CarGurus, Inc. (A)     1,310 36,628
Consumer discretionary 16.1%     633,602
Automobile components 0.6%      
Fox Factory Holding Corp. (A)     770 15,639
Mobileye Global, Inc., Class A (A)     642 9,360
Broadline retail 7.9%      
Amazon.com, Inc. (A)     1,693 312,224
Hotels, restaurants and leisure 1.2%      
Las Vegas Sands Corp.     997 36,560
Vail Resorts, Inc.     71 9,883
Household durables 3.5%      
Lennar Corp., A Shares     994 107,958
NVR, Inc. (A)     4 28,503
Specialty retail 2.1%      
Group 1 Automotive, Inc.     205 82,744
3 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Consumer discretionary (continued)      
Textiles, apparel and luxury goods 0.8%      
Canada Goose Holdings, Inc. (A)     3,676 $30,731
Consumer staples 4.2%     167,433
Beverages 2.4%      
Anheuser-Busch InBev SA/NV, ADR     972 63,967
Diageo PLC, ADR     270 30,245
Food products 1.8%      
Post Holdings, Inc. (A)     647 73,221
Energy 6.1%     238,807
Oil, gas and consumable fuels 6.1%      
Cheniere Energy, Inc.     787 181,884
Suncor Energy, Inc.     1,613 56,923
Financials 13.3%     525,002
Banks 3.6%      
First Hawaiian, Inc.     6,164 140,909
Capital markets 9.7%      
KKR & Company, Inc.     1,350 154,265
Morgan Stanley     730 84,257
S&P Global, Inc.     163 81,508
The Goldman Sachs Group, Inc.     117 64,063
Health care 8.4%     329,414
Health care equipment and supplies 1.9%      
Hologic, Inc. (A)     1,258 73,216
Health care providers and services 3.2%      
Elevance Health, Inc.     191 80,331
McKesson Corp.     63 44,906
Life sciences tools and services 3.0%      
Avantor, Inc. (A)     3,696 48,011
Thermo Fisher Scientific, Inc.     162 69,498
Pharmaceuticals 0.3%      
Elanco Animal Health, Inc. (A)     1,419 13,452
Industrials 3.5%     139,114
Electrical equipment 1.1%      
Regal Rexnord Corp.     414 43,818
Machinery 0.0%      
Parker-Hannifin Corp.     2 1,210
Trading companies and distributors 2.4%      
United Rentals, Inc.     149 94,086
Information technology 28.5%     1,122,419
Semiconductors and semiconductor equipment 10.2%      
Analog Devices, Inc.     591 115,198
NVIDIA Corp.     2,110 229,821
Texas Instruments, Inc.     352 56,338
Software 13.9%      
Adobe, Inc. (A)     77 28,873
Autodesk, Inc. (A)     213 58,415
Microsoft Corp.     104 41,107
Oracle Corp.     502 70,641
Roper Technologies, Inc.     99 55,448
Salesforce, Inc.     442 118,770
Workday, Inc., Class A (A)     711 174,195
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 4
Table of Contents
        Shares Value
Information technology (continued)      
Technology hardware, storage and peripherals 4.4%      
Apple, Inc.     817 $173,613
Real estate 3.7%     144,485
Real estate management and development 0.2%      
Five Point Holdings LLC, Class A (A)     1,670 8,784
Specialized REITs 3.5%      
Crown Castle, Inc.     1,133 119,826
Millrose Properties, Inc., Class A     634 15,875
Exchange-traded funds 4.2%         $163,722
(Cost $163,125)          
iShares Russell 3000 ETF       520 163,722
    
    Yield (%)   Shares Value
Short-term investments 2.1%         $83,646
(Cost $83,644)          
Short-term funds 2.1%         83,646
John Hancock Collateral Trust (B) 4.2081(C)   8,362 83,646
    
Total investments (Cost $3,457,591) 100.7%     $3,965,883
Other assets and liabilities, net (0.7%)       (26,341)
Total net assets 100.0%         $3,939,542
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) Non-income producing security.
(B) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(C) The rate shown is the annualized seven-day yield as of 4-30-25.
INTERNATIONAL HIGH DIVIDEND ETF
As of 4-30-25
        Shares Value
Common stocks 96.3%         $8,251,531
(Cost $6,846,639)          
Australia 3.4%         292,523
AGL Energy, Ltd.   4,712 32,049
ANZ Group Holdings, Ltd.   1,248 23,844
Commonwealth Bank of Australia   578 61,614
Fortescue, Ltd.   12,137 125,729
Woodside Energy Group, Ltd.   2,234 29,646
Yancoal Australia, Ltd.   6,164 19,641
Austria 1.3%         108,331
BAWAG Group AG (A)(B)   985 108,331
Canada 7.1%         612,105
Canadian Imperial Bank of Commerce   672 42,301
Canadian Natural Resources, Ltd.   731 20,936
Enbridge, Inc.   3,325 155,189
Finning International, Inc.   762 21,465
Peyto Exploration & Development Corp.   3,020 37,736
Power Corp. of Canada   4,000 151,104
Royal Bank of Canada   651 77,985
Secure Waste Infrastructure Corp.   6,781 64,457
Suncor Energy, Inc.   617 21,749
TransAlta Corp.   2,156 19,183
5 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Denmark 1.1%         $89,797
Novo Nordisk A/S, B Shares   1,355 89,797
Finland 1.7%         147,069
Fortum OYJ   7,603 127,437
Nokia OYJ   3,935 19,632
France 7.3%         628,155
Cie Generale des Etablissements Michelin SCA   1,212 44,322
Engie SA   8,370 173,023
Gaztransport et Technigaz SA   132 21,577
Klepierre SA   4,963 181,888
Publicis Groupe SA   881 89,392
Sanofi   1,082 117,953
Germany 9.2%         786,714
Bayerische Motoren Werke AG   641 54,139
Deutsche Telekom AG   3,761 135,100
Heidelberg Materials AG   911 180,450
Mercedes-Benz Group AG   2,055 122,571
RWE AG   3,110 120,907
SAP SE   598 173,547
Hong Kong 4.3%         365,584
CK Hutchison Holdings, Ltd.   17,076 96,448
Henderson Land Development Company, Ltd.   10,303 29,230
Swire Pacific, Ltd., Class A   15,766 136,420
WH Group, Ltd. (A)   115,634 103,486
Israel 1.9%         163,212
Bank Hapoalim BM   1,459 21,370
Bank Leumi Le-Israel BM   6,461 91,703
Mizrahi Tefahot Bank, Ltd.   990 50,139
Italy 6.3%         543,427
Enel SpA   4,202 36,513
Generali   4,734 172,957
Intesa Sanpaolo SpA   27,532 146,533
Poste Italiane SpA (A)   9,242 187,424
Japan 18.9%         1,614,854
Dai-ichi Life Holdings, Inc.   3,444 24,736
Daiwa House Industry Company, Ltd.   2,481 89,663
FUJIFILM Holdings Corp.   2,910 59,887
Hitachi, Ltd.   1,762 43,457
Honda Motor Company, Ltd.   2,643 26,923
Japan Tobacco, Inc.   4,453 137,580
Kobe Steel, Ltd.   2,597 30,387
Komatsu, Ltd.   2,627 75,528
Marubeni Corp.   2,824 50,050
Mitsubishi Corp.   6,720 127,767
Mitsui & Company, Ltd.   4,929 100,142
Mizuho Financial Group, Inc.   2,947 73,964
MS&AD Insurance Group Holdings, Inc.   2,357 53,621
Nippon Steel Corp.   5,926 125,051
Nomura Real Estate Holdings, Inc.   4,800 28,499
Recruit Holdings Company, Ltd.   369 20,545
SCREEN Holdings Company, Ltd.   386 25,611
Seiko Epson Corp.   5,035 70,209
Shionogi & Company, Ltd.   3,291 55,235
Sojitz Corp.   3,204 75,720
Sumitomo Corp.   6,020 147,630
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 6
Table of Contents
        Shares Value
Japan (continued)          
Suzuken Company, Ltd.   1,533 $55,628
Suzuki Motor Corp.   1,826 21,858
Tokyo Electron, Ltd.   472 70,234
Toyota Motor Corp.   1,303 24,929
Netherlands 4.7%         406,465
ABN AMRO Bank NV (A)   5,557 114,968
ASML Holding NV   129 85,418
ASR Nederland NV   410 25,820
NN Group NV   2,942 180,259
Norway 2.0%         170,061
Aker BP ASA   6,071 130,671
Equinor ASA   1,717 39,390
Singapore 3.6%         311,113
DBS Group Holdings, Ltd.   4,880 158,655
Oversea-Chinese Banking Corp., Ltd.   12,326 152,458
Spain 3.4%         291,789
Banco Bilbao Vizcaya Argentaria SA   11,807 161,865
Repsol SA   10,573 129,924
Sweden 1.9%         159,443
SKF AB, B Shares   1,168 22,955
Volvo AB, B Shares   5,013 136,488
Switzerland 5.9%         503,745
ABB, Ltd.   2,630 138,229
Holcim, Ltd. (B)   223 24,858
Novartis AG   1,359 155,109
Roche Holding AG   351 115,028
Swissquote Group Holding SA   137 70,521
United Kingdom 12.3%         1,057,144
3i Group PLC   507 28,673
Associated British Foods PLC   859 23,682
AstraZeneca PLC   1,037 148,596
Beazley PLC   4,110 48,557
British American Tobacco PLC   3,860 167,460
GSK PLC   1,756 34,795
HSBC Holdings PLC   7,564 84,059
Imperial Brands PLC   4,464 183,289
Rio Tinto PLC   2,675 158,891
SSE PLC   1,069 24,159
Taylor Wimpey PLC   14,754 23,146
Tesco PLC   26,626 131,837
Preferred securities 1.9%         $161,189
(Cost $175,977)          
Germany 1.9%         161,189
Henkel AG & Company KGaA     300 23,326
Porsche Automobil Holding SE     3,353 137,863
    
    Yield (%)   Shares Value
Short-term investments 1.4%       $123,771
(Cost $123,767)          
Short-term funds 1.4%         123,771
John Hancock Collateral Trust (C) 4.2081(D)   12,373 123,771
    
7 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Total investments (Cost $7,146,383) 99.6%     $8,536,491
Other assets and liabilities, net 0.4%     30,710
Total net assets 100.0%         $8,567,201
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) This security is exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(B) Non-income producing security.
(C) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(D) The rate shown is the annualized seven-day yield as of 4-30-25.
The fund had the following sector composition as a percentage of net assets on 4-30-25:
Financials 27.0%
Industrials 13.9%
Health care 9.0%
Consumer staples 9.0%
Energy 7.8%
Materials 7.6%
Utilities 6.2%
Information technology 5.9%
Consumer discretionary 5.3%
Real estate 3.9%
Communication services 2.6%
Short-term investments and other 1.8%
TOTAL 100.0%
U.S. HIGH DIVIDEND ETF
As of 4-30-25
        Shares Value
Common stocks 98.7%         $7,304,460
(Cost $6,383,249)          
Communication services 4.3%     318,582
Diversified telecommunication services 1.9%      
Verizon Communications, Inc.     3,177 139,979
Media 2.4%      
Comcast Corp., Class A     4,120 140,904
Omnicom Group, Inc.     495 37,699
Consumer discretionary 7.1%     524,626
Automobiles 1.5%      
Ford Motor Company     11,032 110,430
Hotels, restaurants and leisure 2.1%      
Darden Restaurants, Inc.     116 23,274
Starbucks Corp.     999 79,970
Texas Roadhouse, Inc.     175 29,043
Wingstop, Inc.     85 22,431
Household durables 1.0%      
Garmin, Ltd.     389 72,692
Specialty retail 2.5%      
Best Buy Company, Inc.     718 47,883
Dick’s Sporting Goods, Inc.     253 47,498
The Home Depot, Inc.     161 58,039
Williams-Sonoma, Inc.     216 33,366
Consumer staples 8.6%     638,237
Consumer staples distribution and retail 3.4%      
Costco Wholesale Corp.     112 111,384
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 8
Table of Contents
        Shares Value
Consumer staples (continued)      
Consumer staples distribution and retail (continued)      
Target Corp.     282 $27,269
Walmart, Inc.     1,172 113,977
Food products 1.3%      
The Kraft Heinz Company     3,266 95,041
Tobacco 3.9%      
Altria Group, Inc.     2,418 143,025
Philip Morris International, Inc.     861 147,541
Energy 3.1%     232,506
Oil, gas and consumable fuels 3.1%      
Chevron Corp.     126 17,144
Exxon Mobil Corp.     297 31,372
Kinder Morgan, Inc.     1,740 45,762
ONEOK, Inc.     596 48,967
The Williams Companies, Inc.     1,524 89,261
Financials 15.3%     1,133,443
Banks 2.2%      
Citizens Financial Group, Inc.     550 20,290
Huntington Bancshares, Inc.     1,508 21,911
JPMorgan Chase & Co.     427 104,453
U.S. Bancorp     484 19,525
Capital markets 8.7%      
BlackRock, Inc.     154 140,796
CME Group, Inc.     533 147,684
Evercore, Inc., Class A     151 30,999
Houlihan Lokey, Inc.     154 24,960
Morgan Stanley     264 30,471
S&P Global, Inc.     284 142,014
T. Rowe Price Group, Inc.     1,438 127,335
Consumer finance 2.0%      
OneMain Holdings, Inc.     3,134 147,517
Insurance 2.4%      
American Financial Group, Inc.     792 100,315
Fidelity National Financial, Inc.     699 44,771
Principal Financial Group, Inc.     410 30,402
Health care 8.0%     592,720
Health care equipment and supplies 1.2%      
Abbott Laboratories     388 50,731
Medtronic PLC     440 37,294
Health care providers and services 0.5%      
UnitedHealth Group, Inc.     84 34,561
Pharmaceuticals 6.3%      
Bristol-Myers Squibb Company     2,834 142,267
Eli Lilly & Company     143 128,550
Johnson & Johnson     509 79,562
Pfizer, Inc.     4,906 119,755
Industrials 8.2%     605,748
Air freight and logistics 1.5%      
United Parcel Service, Inc., Class B     1,203 114,646
Construction and engineering 0.3%      
Comfort Systems USA, Inc.     51 20,275
9 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Industrials (continued)      
Electrical equipment 2.6%      
Eaton Corp. PLC     76 $22,372
Emerson Electric Company     185 19,445
Rockwell Automation, Inc.     239 59,196
Vertiv Holdings Company, Class A     1,032 88,112
Ground transportation 0.3%      
Union Pacific Corp.     107 23,076
Professional services 2.4%      
Automatic Data Processing, Inc.     198 59,519
Paychex, Inc.     797 117,255
Trading companies and distributors 1.1%      
Watsco, Inc.     178 81,852
Information technology 32.7%     2,418,303
Communications equipment 1.5%      
Cisco Systems, Inc.     1,898 109,572
IT services 3.4%      
Accenture PLC, Class A     357 106,797
IBM Corp.     587 141,948
Semiconductors and semiconductor equipment 11.8%      
Analog Devices, Inc.     112 21,831
KLA Corp.     131 92,052
Lam Research Corp.     1,216 87,151
Monolithic Power Systems, Inc.     82 48,634
NVIDIA Corp.     4,051 441,235
Qualcomm, Inc.     646 95,905
Texas Instruments, Inc.     555 88,828
Software 9.8%      
Intuit, Inc.     238 149,338
Microsoft Corp.     1,175 464,431
Oracle Corp.     799 112,435
Technology hardware, storage and peripherals 6.2%      
Apple, Inc.     2,156 458,146
Materials 2.5%     183,994
Chemicals 1.5%      
LyondellBasell Industries NV, Class A     1,851 107,747
Containers and packaging 1.0%      
Amcor PLC     6,250 57,500
Packaging Corp. of America     101 18,747
Real estate 6.2%     460,652
Retail REITs 1.9%      
Simon Property Group, Inc.     908 142,901
Specialized REITs 4.3%      
CubeSmart     552 22,450
Gaming and Leisure Properties, Inc.     2,829 135,396
Public Storage     73 21,931
VICI Properties, Inc.     4,309 137,974
Utilities 2.7%     195,649
Electric utilities 1.7%      
Duke Energy Corp.     246 30,017
NRG Energy, Inc.     430 47,119
The Southern Company     535 49,161
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 10
Table of Contents
        Shares Value
Utilities (continued)      
Independent power and renewable electricity producers 1.0%      
Vistra Corp.     535 $69,352
    
    Yield (%)   Shares Value
Short-term investments 1.9%         $138,812
(Cost $138,756)          
Short-term funds 1.9%         138,812
John Hancock Collateral Trust (A) 4.2081(B)   13,877 138,812
    
Total investments (Cost $6,522,005) 100.6%     $7,443,272
Other assets and liabilities, net (0.6%)       (44,105)
Total net assets 100.0%         $7,399,167
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(B) The rate shown is the annualized seven-day yield as of 4-30-25.
11 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Financial statements
STATEMENTS OF ASSETS AND LIABILITIES 4-30-25
  Disciplined Value International Select ETF Fundamental All Cap Core ETF International High Dividend ETF U.S. High Dividend ETF
Assets        
Unaffiliated investments, at value $33,752,084 $3,882,237 $8,412,720 $7,304,460
Affiliated investments, at value — 83,646 123,771 138,812
Total investments, at value 33,752,084 3,965,883 8,536,491 7,443,272
Cash 612,376 15,856 — —
Foreign currency, at value 5,279 — 122 —
Dividends and interest receivable 169,774 2,089 77,228 7,757
Receivable for investments sold 1,184,305 — — —
Receivable for securities lending income 106 — — —
Receivable from affiliates 1,699 22,372 12,618 11,540
Other assets 5,743 5,325 6,044 6,082
Total assets 35,731,366 4,011,525 8,632,503 7,468,651
Liabilities        
Payable for investments purchased 1,501,772 — — —
Payable to affiliates        
Accounting and legal services fees 936 111 244 226
Other liabilities and accrued expenses 54,909 71,872 65,058 69,258
Total liabilities 1,557,617 71,983 65,302 69,484
Net assets $34,173,749 $3,939,542 $8,567,201 $7,399,167
Net assets consist of        
Paid-in capital $30,452,372 $3,451,138 $7,646,947 $7,023,418
Total distributable earnings (loss) 3,721,377 488,404 920,254 375,749
Net assets $34,173,749 $3,939,542 $8,567,201 $7,399,167
Unaffiliated investments, at cost $29,697,469 $3,373,947 $7,022,616 $6,383,249
Affiliated investments, at cost — $83,644 $123,767 $138,756
Foreign currency, at cost $5,221 — $122 —
Securities loaned, at value $961,446 — — —
Net asset value per share        
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.        
Net assets $34,173,749 $3,939,542 $8,567,201 $7,399,167
Shares outstanding 1,200,000 305,000 270,000 220,000
Net asset value per share $28.48 $12.92 $31.73 $33.63
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 12
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-25
  Disciplined Value International Select ETF Fundamental All Cap Core ETF International High Dividend ETF U.S. High Dividend ETF
Investment income        
Dividends from unaffiliated investments $805,711 $41,529 $440,109 $256,010
Securities lending 903 — — —
Dividends from affiliated investments — 3,714 4,418 7,439
Interest — — 406 90
Non-cash dividends — 7,178 — —
Less foreign taxes withheld (93,314) (575) (47,036) (77)
Total investment income 713,300 51,846 397,897 263,462
Expenses        
Investment management fees 170,163 26,303 31,061 25,655
Accounting and legal services fees 4,991 693 1,417 1,586
Transfer agent fees 9,583 10,000 10,000 10,000
Trustees’ fees 1,129 525 609 626
Custodian fees 40,363 36,186 54,718 56,474
Printing and postage 18,891 16,528 18,038 17,824
Professional fees 90,673 38,050 35,310 35,330
Licensing fees — 25,000 — —
Stock exchange listing fees 14,884 18,884 11,221 11,223
Other 5,453 3,307 9,892 9,601
Total expenses 356,130 175,476 172,266 168,319
Less expense reductions (163,539) (147,199) (135,502) (138,240)
Net expenses 192,591 28,277 36,764 30,079
Net investment income 520,709 23,569 361,133 233,383
Realized and unrealized gain (loss)        
Net realized gain (loss) on        
Unaffiliated investments and foreign currency transactions (113,135) (30,761) (301,878) (247,170)
Affiliated investments (162) 51 47 21
Realized gain on investment not meeting investment restrictions — 3,116 — —
Realized loss on investments not meeting investment restrictions — (6,179) — —
Payment from investment subadvisor for loss on investments not meeting investment restrictions — 6,179 — —
Redemptions in-kind 118,045 — 481,710 1,033,214
  4,748 (27,594) 179,879 786,065
Change in net unrealized appreciation (depreciation) of        
Unaffiliated investments and translation of assets and liabilities in foreign currencies 2,556,328 102,518 506,266 (120,509)
Affiliated investments — 8 27 63
  2,556,328 102,526 506,293 (120,446)
Net realized and unrealized gain 2,561,076 74,932 686,172 665,619
Increase in net assets from operations $3,081,785 $98,501 $1,047,305 $899,002
13 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
  Disciplined Value
International Select ETF 		Fundamental
All Cap Core ETF 		International High
Dividend ETF
  Year ended
4-30-25 		Period ended
4-30-241 		Year ended
4-30-25 		Period ended
4-30-242 		Year ended
4-30-25 		Year ended
4-30-24
Increase (decrease) in net assets            
From operations            
Net investment income $520,709 $268,433 $23,569 $6,352 $361,133 $303,415
Net realized gain (loss) 4,748 (540,006) (27,594) 10,624 179,879 101,525
Change in net unrealized appreciation 2,556,328 1,503,868 102,526 405,766 506,293 565,359
Increase in net assets resulting from operations 3,081,785 1,232,295 98,501 422,742 1,047,305 970,299
Distributions to shareholders            
From earnings (482,888) — (28,686) (4,154) (412,495) (319,370)
From fund share transactions            
Shares issued 5,910,530 25,115,179 825,631 2,625,508 2,972,796 3,255,076
Shares repurchased (683,152) — — — (2,972,376) (2,231,770)
Total from fund share transactions 5,227,378 25,115,179 825,631 2,625,508 420 1,023,306
Total increase 7,826,275 26,347,474 895,446 3,044,096 635,230 1,674,235
Net assets            
Beginning of year 26,347,474 — 3,044,096 — 7,931,971 6,257,736
End of year $34,173,749 $26,347,474 $3,939,542 $3,044,096 $8,567,201 $7,931,971
Share activity            
Shares outstanding            
Beginning of year 1,000,000 — 245,000 — 270,000 230,000
Shares issued 225,000 1,000,000 60,000 245,000 100,000 120,000
Shares repurchased (25,000) — — — (100,000) (80,000)
End of year 1,200,000 1,000,000 305,000 245,000 270,000 270,000
    
   
1 Period from 12-19-23 (commencement of operations) to 4-30-24.
2 Period from 11-1-23 (commencement of operations) to 4-30-24.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 14
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
Continued
    
  U.S. High
Dividend ETF
  Year ended
4-30-25 		Year ended
4-30-24
Increase (decrease) in net assets    
From operations    
Net investment income $233,383 $209,047
Net realized gain 786,065 333,014
Change in net unrealized appreciation (depreciation) (120,446) 606,285
Increase in net assets resulting from operations 899,002 1,148,346
Distributions to shareholders    
From earnings (239,879) (196,133)
From fund share transactions    
Shares issued 3,883,871 3,279,525
Shares repurchased (5,007,442) (3,000,834)
Total from fund share transactions (1,123,571) 278,691
Total increase (decrease) (464,448) 1,230,904
Net assets    
Beginning of year 7,863,615 6,632,711
End of year $7,399,167 $7,863,615
Share activity    
Shares outstanding    
Beginning of year 250,000 240,000
Shares issued 110,000 110,000
Shares repurchased (140,000) (100,000)
End of year 220,000 250,000
15 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Financial Highlights
DISCIPLINED VALUE INTERNATIONAL SELECT ETF
Period ended 4-30-25 4-30-241
Per share operating performance    
Net asset value, beginning of period $26.35 $25.00
Net investment income2 0.50 0.28
Net realized and unrealized gain (loss) on investments 2.10 1.07
Total from investment operations 2.60 1.35
Less distributions    
From net investment income (0.47) —
Net asset value, end of period $28.48 $26.35
Total return (%)3 10.21 5.394
Ratios and supplemental data    
Net assets, end of period (in millions) $34 $26
Ratios (as a percentage of average net assets):    
Expenses before reductions 1.28 1.385
Expenses including reductions 0.69 0.695
Net investment income 1.87 3.116
Portfolio turnover (%)7 55 29
    
   
1 Period from 12-19-23 (commencement of operations) to 4-30-24.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
7 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
FUNDAMENTAL ALL CAP CORE ETF
Period ended 4-30-25 4-30-241
Per share operating performance    
Net asset value, beginning of period $12.42 $10.12
Net investment income2 0.08 0.03
Net realized and unrealized gain (loss) on investments 0.52 2.29
Total from investment operations 0.60 2.32
Less distributions    
From net investment income (0.10) (0.02)
Net asset value, end of period $12.92 $12.42
Total return (%)3 4.64 22.974
Ratios and supplemental data    
Net assets, end of period (in millions) $4 $3
Ratios (as a percentage of average net assets):    
Expenses before reductions 4.47 4.765
Expenses including reductions 0.72 0.725
Net investment income 0.60 0.486
Portfolio turnover (%)7 34 10
    
   
1 Period from 11-1-23 (commencement of operations) to 4-30-24.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
7 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
SEE NOTES TO FINANCIAL STATEMENTS  | JOHN HANCOCK ACTIVE EQUITY ETFS 16
Table of Contents
INTERNATIONAL HIGH DIVIDEND ETF
Period ended 4-30-25 4-30-24 4-30-231
Per share operating performance      
Net asset value, beginning of period $29.38 $27.21 $24.91
Net investment income2 1.33 1.21 0.593
Net realized and unrealized gain (loss) on investments 2.55 2.30 1.85
Total from investment operations 3.88 3.51 2.44
Less distributions      
From net investment income (1.53) (1.34) (0.14)
Net asset value, end of period $31.73 $29.38 $27.21
Total return (%)4 13.84 13.39 9.795
Ratios and supplemental data      
Net assets, end of period (in millions) $9 $8 $6
Ratios (as a percentage of average net assets):      
Expenses before reductions 2.16 2.35 1.656
Expenses including reductions 0.46 0.46 0.466
Net investment income 4.53 4.39 6.113,7
Portfolio turnover (%)8 43 20 5
    
   
1 Period from 12-20-22 (commencement of operations) to 4-30-23.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.08 and 0.81%, respectively.
4 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
5 Not annualized.
6 Annualized. Certain expenses are presented unannualized.
7 Annualized.
8 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
U.S. HIGH DIVIDEND ETF
Period ended 4-30-25 4-30-24 4-30-231
Per share operating performance      
Net asset value, beginning of period $31.45 $27.64 $24.95
Net investment income2 0.93 0.84 0.49
Net realized and unrealized gain (loss) on investments 2.22 3.75 2.61
Total from investment operations 3.15 4.59 3.10
Less distributions      
From net investment income (0.97) (0.78) (0.41)
Net asset value, end of period $33.63 $31.45 $27.64
Total return (%)3 9.88 16.89 12.454
Ratios and supplemental data      
Net assets, end of period (in millions) $7 $8 $7
Ratios (as a percentage of average net assets):      
Expenses before reductions 1.90 1.97 1.565
Expenses including reductions 0.34 0.34 0.345
Net investment income 2.64 2.84 3.016
Portfolio turnover (%)7 37 18 15
    
   
1 Period from 9-27-22 (commencement of operations) to 4-30-23.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
7 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
17 JOHN HANCOCK ACTIVE EQUITY ETFS |  SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Notes to financial statements
Note 1—Organization
John Hancock Exchange-Traded Fund Trust (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, four of which are presented in this report (the funds). 
The investment objective of Disciplined Value International Select ETF is to seek long-term capital growth.
The investment objective of Fundamental All Cap Core ETF is to seek long-term capital appreciation.
The investment objective of International High Dividend ETF and U.S. High Dividend ETF is to seek a high level of current income. Long-term growth of capital is a secondary objective for each fund.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The funds qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the funds:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Valuation Policies and Procedures of the Advisor, John Hancock Investment Management LLC, the funds’ valuation designee.
In order to value the securities, the funds use the following valuation techniques: Equity securities, including exchange-traded and closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the funds in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor valued at London close.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor may use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
The funds use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
As of April 30, 2025, all investments are categorized as Level 1 under the hierarchy described above.
Real estate investment trusts. The funds may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the funds will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
   | JOHN HANCOCK ACTIVE EQUITY ETFS 18
Table of Contents
During the year ended April 30, 2025, Fundamental All Cap Core ETF realized a gain of $3,116 and a loss of $6,179 on the disposal of investments not meeting the fund’s investment guidelines. The realized loss was reimbursed by the subadvisor.
Securities lending. The funds may lend their securities to earn additional income. The funds receive collateral from the borrower in an amount not less than the market value of the loaned securities. The funds may invest their cash collateral in JHCT, an affiliate of the funds, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a government money market fund and invests in U.S. Government securities and/or repurchase agreements. Prior to September 27, 2024, JHCT was a prime money market fund investing in short-term money market investments. Each fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.
The funds have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the funds for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the funds could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the funds will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The funds receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the funds is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.
In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the funds, and accordingly, is not reflected in the funds’ net assets.
Fund Market value of securities on loan Cash collateral received Non-cash collateral
Disciplined Value International Select ETF   $961,446   —   $1,013,257
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The funds may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the funds’ understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the funds as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The funds may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the funds’ custodian agreement, the custodian may loan money to the funds to make properly authorized payments. The funds are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The funds and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit, which is in effect through July 14, 2025 unless extended or renewed. Excluding commitments designated for certain funds and subject to the needs of all other affiliated funds, a fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.
A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating fund based on an asset-based allocation and is reflected in Other expenses on the Statements of operations. For the year ended April 30, 2025, the funds had no borrowings under the line of credit.
Commitment fees for the year ended April 30, 2025 were as follows:
Fund Commitment fee
International High Dividend ETF   $724
U.S. High Dividend ETF   728
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and each fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
19 JOHN HANCOCK ACTIVE EQUITY ETFS |   
Table of Contents
Federal income taxes. Each fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of April 30, 2025, certain funds have short-term and long-term capital loss carryforwards available to offset future net realized capital gains. These carryforwards do not expire. The following table details the capital loss carryforwards available as of April 30, 2025:
  No Expiration Date
Fund Short Term Long Term
Disciplined Value International Select ETF   $441,110   $213,537
Fundamental All Cap Core ETF   901   —
International High Dividend ETF   331,158   181,243
U.S. High Dividend ETF   404,293   160,909
Due to certain Internal Revenue Code rules, utilization of the capital loss carryforwards may be limited in future years.
As of April 30, 2025, the funds had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The funds’ federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
For federal income tax purposes, the costs of investments owned on April 30, 2025, including short-term investments, were as follows:
Fund Aggregate
cost 		Unrealized
appreciation 		Unrealized
(depreciation) 		Net unrealized
appreciation/
(depreciation)
Disciplined Value International Select ETF   $29,699,140   $4,874,151   $(821,207)   $4,052,944
Fundamental All Cap Core ETF   3,485,077   596,512   (115,706)   480,806
International High Dividend ETF   7,192,785   1,524,529   (180,823)   1,343,706
U.S. High Dividend ETF   6,522,027   1,237,905   (316,660)   921,245
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. International High Dividend ETF and U.S. High Dividend ETF generally declare and pay dividends from net investment income quarterly. All other funds generally declare and pay dividends from net investment income annually. All funds generally declare and pay capital gain distributions, if any, annually.
The tax character of distributions for the year ended April 30, 2025 was as follows:
Fund Ordinary
Income 		Long Term
Capital Gains 		Total
Disciplined Value International Select ETF   $482,888 —   $482,888
Fundamental All Cap Core ETF   28,677   $9   28,686
International High Dividend ETF   412,495 —   412,495
U.S. High Dividend ETF   239,879 —   239,879
The tax character of distributions for the year ended April 30, 2024 was as follows:
Fund Ordinary
Income
Fundamental All Cap Core ETF   $4,154
International High Dividend ETF   319,370
U.S. High Dividend ETF   196,133
As of April 30, 2025, the components of distributable earnings on a tax basis were as follows:
Fund Undistributed
Ordinary Income
Disciplined Value International Select ETF   $317,499
Fundamental All Cap Core ETF   8,499
International High Dividend ETF   85,966
U.S. High Dividend ETF   19,706
Such distributions and distributable earnings, on a tax basis, if any, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the funds’ financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences at fiscal year end. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to investments in passive foreign investment companies , partnerships, redemptions-in-kind and wash sale loss deferrals.
   | JOHN HANCOCK ACTIVE EQUITY ETFS 20
Table of Contents
Note 3—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the funds. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 4—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the funds. The Advisor is an indirect, principally owned subsidiary of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation (MFC).
Management fee. The funds have an investment management agreement with the Advisor under which each fund pays a monthly management fee to the Advisor equivalent on an annual basis as detailed below.
The management fee structure is as follows:
- Disciplined Value International Select ETF - 0.61% of average daily net assets.
- Fundamental All Cap Core ETF - (a) 0.675% of the first $2.5 billion of aggregate daily net assets; and (b) 0.65% of the excess over $2.5 billion of aggregate daily net assets. Aggregate net assets include the fund and JHF II Fundamental All Cap Core Fund and JHVIT Fundamental All Cap Core Trust.
- International High Dividend ETF - 0.39% of average daily net assets.
- U.S. High Dividend ETF - 0.29% of average daily net assets.
The Advisor has subadvisory agreements with the organizations described below:
Fund Subadvisor(s)
Disciplined Value International Select ETF Boston Partners Global Investors, Inc.
Fundamental All Cap Core ETF
International High Dividend ETF
U.S. High Dividend ETF 		Manulife Investment Management (US) LLC1
1 An affiliate of the Advisor.
The funds are not responsible for payment of the subadvisory fees.
Expense reimbursements. The Advisor contractually agrees to reduce its management fee or, if necessary, make payment to the fund in an amount equal to the amount by which expenses of the fund exceed the following:
Fund Expense
limitation as a
percentage of
average net
assets
Disciplined Value International Select ETF 0.69%
Fundamental All Cap Core ETF 0.72%
Fund Expense
limitation as a
percentage of
average net
assets
International High Dividend ETF 0.46%
U.S. High Dividend ETF 0.34%
 
Expenses means all the expenses of the funds, excluding (a) taxes, (b) brokerage commissions, (c) interest expense, (d) litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the funds’ business, (e) borrowing costs, (f) prime brokerage fees, (g) acquired fund fees and expenses paid indirectly, and (h) short dividend expense. The funds’ expense limitation agreement expires on August 31, 2025, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the funds (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of the funds. During the year ended April 30, 2025, this waiver amounted to 0.01% of the funds’ average daily net assets. This agreement expires on July 31, 2026, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
For the year ended April 30, 2025, the expense reductions described above amounted to the following:
Fund Expense reimbursement
Disciplined Value International Select ETF   $163,539
Fundamental All Cap Core ETF   147,199
Fund Expense reimbursement
International High Dividend ETF   $135,502
U.S. High Dividend ETF   138,240
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
21 JOHN HANCOCK ACTIVE EQUITY ETFS |   
Table of Contents
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended April 30, 2025, were equivalent to a net annual effective rate of the fund’s average daily net assets as follows:
Fund Net Annual Effective Rate
Disciplined Value International Select ETF 0.02%
Fundamental All Cap Core ETF 0.00%
Fund Net Annual Effective Rate
International High Dividend ETF 0.00%
U.S. High Dividend ETF 0.00%
 
Accounting and legal services. Pursuant to a service agreement, the funds reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the funds, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These accounting and legal services fees incurred, for the year ended April 30, 2025, amounted to an annual rate of 0.02% of the funds’ average daily net assets.
Trustee expenses. The funds compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on their net assets relative to other funds within the John Hancock group of funds complex.
Note 5—Capital share transactions
The funds will issue and redeem shares only in a large number of specified shares, each called a “creation unit,” or multiples thereof. The funds issue and redeem shares at NAV in creation units of 25,000, 5,000, 10,000 and 10,000 shares for Disciplined Value International Select ETF, Fundamental All Cap Core ETF, International High Dividend ETF, and U.S. High Dividend ETF, respectively.
Only authorized participants may engage in creation or redemption transactions directly with the funds. Such transactions generally take place when an authorized participant deposits into a fund a designated portfolio of securities and/or cash in exchange for a specified number of creation units. Similarly, shares can be redeemed only in creation units, generally for a designated portfolio of securities and/or cash. For purposes of US GAAP, in-kind redemption transactions are treated as a sale of securities and any resulting gains and losses are recognized based on the market value of the securities on the date of the transfer. Authorized participants pay a transaction fee to the custodian when purchasing and redeeming creation units of the funds. The transaction fee is used to defray the costs associated with the issuance and redemption of creation units. Individual shares of the funds may only be purchased and sold in secondary market transactions through brokers. Secondary market transactions may be subject to brokerage commissions. Shares of the funds are listed and traded on the NYSE Arca, Inc., trade at market prices rather than NAV, and may trade at a price greater than or less than NAV.
Authorized participants transacting in creation or redemption of units for cash may also pay an additional variable charge to compensate the relevant fund for the costs associated with purchasing or selling the applicable securities. These charges, if any, are included in shares issued or repurchased on the Statements of Changes in Net Assets.
Affiliates of Disciplined Value International Select ETF, Fundamental All Cap Core ETF, International High Dividend ETF, and U.S. High Dividend ETF owned 49%, 61%, 66%, and 86%, respectively, of shares of the fund on April 30, 2025. Such concentration of shareholders’ capital could have a material effect on a fund if such shareholders redeem from the fund.
Note 6—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments and in-kind transactions, amounted to for the year ended April 30, 2025. In addition, purchases and sales of in-kind transactions are aggregated below for the year ended April 30, 2025:
  Purchases Sales
Fund In-kind transactions Non in-kind transactions In-kind transactions Non in-kind transactions
Disciplined Value International Select ETF   $5,158,350   $15,694,434   $447,392   $15,287,493
Fundamental All Cap Core ETF   741,583   1,378,398 —   1,312,782
International High Dividend ETF   2,840,258   3,413,908   2,212,621   4,077,958
U.S. High Dividend ETF   3,830,910   3,210,108   4,022,402   4,126,216
Note 7—Industry or sector risk
The funds may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a fund’s assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund’s NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors.
Note 8—Investment in affiliated underlying funds
The funds may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the funds’ fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the funds, if any, is as follows:
   | JOHN HANCOCK ACTIVE EQUITY ETFS 22
Table of Contents
              Dividends and distributions
Affiliate Ending
share
amount 		Beginning
value 		Cost of
purchases 		Proceeds
from shares
sold 		Realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Income
distributions
received 		Capital gain
distributions
received 		Ending
value
Disciplined Value International Select ETF
John Hancock Collateral Trust* — —   $5,739,455   $(5,739,293)   $(162) —   $903 — —
Fundamental All Cap Core ETF
John Hancock Collateral Trust 8,362   $35,601   $635,182   $(587,196)   $51   $8   $3,714 —   $83,646
International High Dividend ETF
John Hancock Collateral Trust 12,373   $111,025   $1,716,992   $(1,704,320)   $47   $27   $4,418 —   $123,771
U.S. High Dividend ETF
John Hancock Collateral Trust 13,877   $106,654   $467,328   $(435,254)   $21   $63   $7,439 —   $138,812
    
* Refer to the Securities lending note within Note 2 for details regarding this investment.
Note 9—New accounting pronouncement
In this reporting period, the funds adopted Financial Accounting Standards Board Accounting Standards Update 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures (ASU 2023-07). Adoption of the new standard impacted financial statement disclosures only and did not affect each fund’s financial position or the results of its operations. The management committee of the Advisor acts as the funds’ chief operating decision maker (the CODM), assessing performance and making decisions about resource allocation.  Each fund represents a single operating segment, as the CODM monitors and assesses the operating results of the fund as a whole, and the fund’s long-term strategic asset allocation is managed in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the portfolio management team of the fund’s subadvisor. Segment assets are reflected in the Statements of assets and liabilities as “Total assets”, which consists primarily of total investments at value. The financial information, including the measurement of profit and loss and significant expenses, provided to and reviewed by the CODM is consistent with that presented within the Statements of operations, which includes “Increase (decrease) in net assets from operations”, Statements of changes in net assets, which includes “Increase (decrease) in net assets from fund share transactions”, and Financial highlights, which includes total return and income and expense ratios.
23 JOHN HANCOCK ACTIVE EQUITY ETFS |   
Table of Contents
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Trustees of John Hancock Exchange-Traded Fund Trust and Shareholders of Disciplined Value International  Select ETF,
Fundamental All Cap Core ETF, International High Dividend ETF and U.S. High Dividend ETF 
Opinions on the Financial Statements      
We have audited the accompanying statements of assets and liabilities, including the funds’ investments, of Disciplined Value International Select ETF, Fundamental All Cap Core ETF, International High Dividend ETF, and U.S. High Dividend ETF (four of the funds constituting John Hancock Exchange-Traded Fund Trust, hereafter collectively referred to as the "Funds") as of April 30, 2025, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of April 30, 2025, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.
Fund Statement of
operations 		Statements of
changes in net assets 		Financial Highlights
Disciplined Value International ETF For the year ended April 30, 2025. For the year ended April 30, 2025 and the period from December 19, 2023 (commencement of operations) through April 30, 2024. For the year ended April 30, 2025 and the period from December 19, 2023 (commencement of operations) through April 30, 2024.
Fundamental All Cap Core ETF For the year ended April 30, 2025. For the year ended April 30, 2025 and the period from November 1, 2023 (commencement of operations) through April 30, 2024. For the year ended April 30, 2025 and the period from November 1, 2023 (commencement of operations) through April 30, 2024.
International High Dividend ETF For the year ended April 30, 2025. For the years ended April 30, 2025 and 2024. For the years ended April 30, 2025 and 2024 and the period from December 20, 2022 (commencement of operations) through April 30, 2023.
U.S. High Dividend ETF For the year ended April 30, 2025. For the years ended April 30, 2025 and 2024. For the years ended April 30, 2025 and 2024 and the period from September 27, 2022 (commencement of operations) through April 30, 2023.
Basis for Opinions      
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of April 30, 2025 by correspondence with the custodian, transfer agent and broker; when replies were not received from the broker, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
June 6, 2025 		     
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
   | JOHN HANCOCK ACTIVE EQUITY ETFS 24
Table of Contents
Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the funds, if any, paid during its taxable year ended April 30, 2025.
Each fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
Each fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Each fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
Each fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Fund Foreign sourced income Foreign tax credit
Disciplined Value International Select ETF $805,711 $89,419
International High Dividend ETF 444,527 46,065
Eligible shareholders will be mailed a 2025 Form 1099-DIV in early 2026. This will reflect the tax character of all distributions paid in calendar year 2025.
Please consult a tax advisor regarding the tax consequences of your investment in a fund.
25 JOHN HANCOCK ACTIVE EQUITY ETFS |   
Table of Contents
John Hancock Investment Management LLC, 200 Berkeley Street, Boston, MA 02116, 800-225-6020, jhinvestments.com/etf
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Active Equity ETFs. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
JHAN-20180615-0136 ETFAE-A 4/2025
6/2025


ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 9. PROXY DISCLOSURE FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Information included in Item 7, if applicable.


ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.

Refer to information included in Item 7.


ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.

Information included in Item 7, if applicable.


ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

Not applicable.


ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.

No material changes.


ITEM 16. CONTROLS AND PROCEDURES.

(a) Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within 90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b) There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.


ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.


ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION.

Not applicable.



                                                                        SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Exchange-Traded Fund Trust

By: /s/ Kristie M. Feinberg
------------------------------
Kristie M. Feinberg
President,
Principal Executive Officer
Date: June 6, 2025

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By: /s/ Kristie M. Feinberg
------------------------------
Kristie M. Feinberg
President,
Principal Executive Officer
Date: June 6, 2025
By: /s/ Fernando A. Silva
---------------------------
Fernando A. Silva
Chief Financial Officer,
Principal Financial Officer
Date: June 6, 2025

ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

Z

Z

Z

EX-101.SCH

IDEA: R1.htm

IDEA: R2.htm

IDEA: R3.htm

IDEA: R4.htm

IDEA: R5.htm

IDEA: FilingSummary.xml

IDEA: MetaLinks.json

IDEA: 8ddadd543df8fe7_htm.xml