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11068 11031 11663 11513 11353 10696 10932 10571 10904 10854 10716 10173 10359 10105 10290 10576 10219 10978 11307 11296 10000 10000 10000 10347 10690 10546 10331 10733 10400 10763 10809 11002 10545 10846 10793 10691 10826 10475 10584 10262 10314 10000 10000 11889 11340 11544 10682 10792 10311 13361 12657 12896 12127 12386 11619 10363 10000 10000 13120 false 0001870117 N-1A NYSEArca 0.0357 0.0006 0.0052 0.0929 0.1449 0.3131 0.1311 0.2765 NYSEArca 0.0027 0.0006 0.0000 0.0211 0.4215 0.2679 0.0394 0.1590 0.0725 0.0153 NYSEArca 0.7399 0.1178 0.0159 0.0026 0.0335 0.0903 NYSEArca 0.7877 0.0623 0.0867 0.0219 0.0130 0.0044 0.0008 0.0232 NYSEArca 85%/15% Bloomberg 1-15 Year Blend (1-17 Year) Municipal Bond Index/Bloomberg 1-15 Year Blend (1-17 Year) High Yield Municipal Bond Index 0.1519 0.4011 0.2042 0.0710 0.1004 0.0009 0.0705 NYSEArca 0.0396 0.0415 0.1744 0.1312 0.2115 0.4007 0.0011 NYSEArca 0.0284 0.0009 0.0033 0.0107 0.2409 0.3253 0.0734 0.3171 NYSEArca 0.0582 0.0082 0.0738 0.0531 0.1892 0.4824 0.1351 NYSEArca 0.0381 0.2225 0.1112 0.4092 0.2190 NYSEArca 0.6129 0.0885 0.0013 0.0001 0.0373 0.1560 0.0777 0.0129 0.0124 0.0005 0.0004 N-CSR Capital Group Fixed Income ETF Trust 2025-12-31 Capital Group Core Bond ETF Capital Group Core Bond ETF CGCB This annual shareholder report contains important information about Capital Group Core Bond ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGCB</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>28</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.27<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 28 0.0027 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 7.33% on a net asset value (NAV) basis and 7.28% on a market price basis for the year ended December 31, 2025. These results compare with a 7.30% gain for the Bloomberg U.S. Aggregate Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund’s fiscal year, the U.S. bond market posted strong returns. The U.S. Federal Reserve cut its policy rate three times in response to labor market weakness and broader economic uncertainty, helping to push short term yields lower. Meanwhile, long-term yields remained relatively high and supported a steepening of the yield curve. Yields on corporate bonds declined but remained elevated relative to their levels over the past 15 years. </div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Within the fund, an underweight to Treasuries in favor of other sectors including investment grade corporate credit and agency mortgage-backed securities contributed positively to relative results. The fund’s overweight to duration for much of the year was also additive. </div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">In terms of detractors, the fund was positioned for a steepening of the yield curve by having an overweight position to the front end of the curve and an underweight to the long end. The steepening of the yield curve added to results; however, this was more than offset by the cost of maintaining the position. Security selection within emerging markets also detracted from returns. </div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538855.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total <div style="display:inline;">returns</div></div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group Core Bond ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.33<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">6.85<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Aggregate <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.30<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">6.72<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on September 26, 2023.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group Core Bond ETF (at NAV) 0.0733 0.0685 Bloomberg U.S. Aggregate Index 0.073 0.0672 2023-09-26 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in <div style="display:inline;">millions</div>)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3,654</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">681</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>7</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate including<br/>mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">87<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate excluding mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">57<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 3654000000 681 7000000 0.87 <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio holdings by asset type</div> (percent of net assets)</div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538861.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 9pt; color: rgb(0, 0, 0); margin-bottom: 4pt; padding-left: 147pt;">*Includes derivatives.</div></div> Capital Group Core Plus Income ETF Capital Group Core Plus Income ETF CGCP This annual shareholder report contains important information about Capital Group Core Plus Income ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGCP</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>35</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.34<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 35 0.0034 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 7.44% on a net asset value (NAV) basis and 7.34% on a market price basis for the year ended December 31, 2025. These results compare with a 7.30% gain for the Bloomberg U.S. Aggregate Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund’s fiscal year, the U.S. bond market posted strong returns. Corporate bond yields declined during the period but remained near their highest level in more than 15 years. The U.S. Federal Reserve cut its policy rate three times in response to labor market weakness and economic uncertainty, pushing short-term yields lower. Meanwhile, long-term yields remained elevated amid heavy issuance and a steepening yield curve.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Within the fund, higher allocations to agency mortgage-backed securities, commercial mortgage-back securities, and high-yield bonds were key contributors to returns for the year. Holdings in emerging markets bonds were additive, though the impact was lessened by the specific issues held. Duration positioning further supported the fund’s results through having more duration exposure in a period where interest rates declined.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Conversely, holding a lesser allocation to investment-grade corporate bonds weighed on relative results. A higher allocation to asset-backed securities also detracted. Curve positioning also detracted. While the steepener positioning benefited from short-term rates declining faster than long-term rates, that benefit was outweighed by the cost of maintaining the positioning.</div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538679.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total <div style="display:inline;">returns</div></div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group Core Plus Income ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.44<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">1.85<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Aggregate <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.30<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">0.93<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on February 22, 2022.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group Core Plus Income ETF (at NAV) 0.0744 0.0185 Bloomberg U.S. Aggregate Index 0.073 0.0093 2022-02-22 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund <div style="display:inline;">statistics</div></div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>6,501</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,471</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>18</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate including<br/>mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">299<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate excluding mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">104<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 6501000000 1471 18000000 2.99 <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio holdings by asset type</div> (percent of net assets)</div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538685.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 9pt; color: rgb(0, 0, 0); margin-bottom: 4pt; padding-left: 147pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div>Less than 0.01%.<br/><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div>Includes derivatives.</div></div> Capital Group High Yield Bond ETF Capital Group High Yield Bond ETF CGHY This annual shareholder report contains important information about Capital Group High Yield Bond ETF (the "fund") for the period from June 24, 2025, commencement of operations, to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the period?</div> (based on a hypothetical $10,000 <div style="display:inline;">investment</div>)</div><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGHY</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>21<div style="display:inline;">*</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.39<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div><div style=";display:inline;vertical-align: super;font-size:9.2px">†</div></td></tr></table><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div>Based on operations for the period from June 24, 2025 to December 31, 2025. Expenses for the full year would be higher.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 8pt; line-height: 8.5pt; color: rgb(0, 0, 0); margin-bottom: 4pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div>Annualized.</div> 21 0.0039 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 4.46% on a net asset value (NAV) basis and 4.62% on a market price basis for the period from June 24, 2025 to December 31, 2025. These results compare with a 3.63% gain for the Bloomberg U.S. Aggregate Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund’s holdings in the basic industry and capital goods sectors were key contributors to results. Likewise, communications and technology holdings helped returns relative to the index. From a rating perspective, high-yield bonds contributed positively to the portfolio, particularly in terms of bonds rated CCC and below.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Conversely, investments in the consumer noncyclical sector and in cash and money market <div style="display:inline;">instruments </div>weighed on returns relative to the index. Likewise, exposure to derivatives generated modestly negative returns during the period.</div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1539075.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total returns</div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group High Yield Bond ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.46<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Aggregate <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">3.63<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Corp High Yield 2% Issuer Capped <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.47<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on June 24, 2025.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group High Yield Bond ETF (at NAV) 0.0446 Bloomberg U.S. Aggregate Index 0.0363 Bloomberg U.S. Corp High Yield 2% Issuer Capped Index 0.0447 2025-06-24 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund <div style="display:inline;">statistics</div></div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in thousands)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>53,180</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">180</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in thousands)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>105</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">36<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 53180000 180 105000 0.36 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio holdings by asset type</div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1539081.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 9pt; color: rgb(0, 0, 0); margin-bottom: 4pt; padding-left: 147pt;">*Includes derivatives.</div></div> Capital Group International Bond ETF(USD-Hedged) Capital Group International Bond ETF(USD-Hedged) CGIB This annual shareholder report contains important information about Capital Group International Bond ETF (USD-Hedged) (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGIB</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>46</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.45<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 46 0.0045 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 4.53% on a net asset value (NAV) basis and 4.69% on a market price basis for the year ended December 31, 2025. These results compare with a 2.80% gain for the Bloomberg Global Aggregate ex-USD (USD Hedged) Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund’s fiscal year, ending December 31, 2025, overseas bonds delivered strong returns, supported by a weaker U.S. dollar. Stable inflation in the eurozone prompted the European Central Bank to hold key benchmark rates steady during the second half of the year, whereas central banks in many emerging markets continued to ease rates. Meanwhile, Japanese government bonds delivered muted returns amid rising domestic yields. Overall, bond yields in overseas markets remained broadly steady.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Within the fund, most broad sectors contributed positively to overall returns, with interest rate views expressed through forwards and derivative contracts being additive relative to the benchmark. Exposure to U.S. agency mortgages and securitized credit also had a meaningfully positive impact on results. Bonds domiciled in Brazil and Malaysia were key contributors, while investments in Mexican, South Korean and Colombian bonds further supported relative returns. Furthermore, duration positioning benefited the fund’s relative results.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Conversely, an underweight to select eurozone issuers, where underlying results were strong, was the largest negative currency impact over the prior 12 months. To a lesser degree, a less-than-benchmark allocation to Canadian bonds also weighed on relative results. Finally, select bond holdings in China, Israel and Indonesia, all of which were underweights relative to the index, came at the detriment to relative results as these pockets of the global market outperformed. </div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538987.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total <div style="display:inline;">returns</div></div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group International Bond ETF (USD-Hedged) (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.53<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.85<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Aggregate <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.30<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.59<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg Global Aggregate ex-USD (USD Hedged) <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">2.80<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.47<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on June 25, 2024.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group International Bond ETF (USD-Hedged) (at NAV) 0.0453 0.0485 Bloomberg U.S. Aggregate Index 0.073 0.0559 Bloomberg Global Aggregate ex-USD (USD Hedged) Index 0.028 0.0447 2024-06-25 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund <div style="display:inline;">statistics</div></div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in thousands)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>150,463</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">304</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in thousands)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>297</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate including<br/>mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">188<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate excluding mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">154<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 150463000 304 297000 1.88 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio holdings by asset type</div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538993.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 9pt; color: rgb(0, 0, 0); margin-bottom: 4pt; padding-left: 147pt;">*Includes derivatives.</div></div> Capital Group Municipal Income ETF Capital Group Municipal Income ETF CGMU This annual shareholder report contains important information about Capital Group Municipal Income ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGMU</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>28</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.27<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 28 0.0027 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 5.23% on a net asset value (NAV) basis and 5.19% on a market price basis for the year ended December 31, 2025. These results compare with a 4.95% gain for the 85%/15% Bloomberg 1-15 Year Blend (1-17 Year) Municipal Bond Index/Bloomberg 1-15 Year Blend (1-17 Year) High Yield Municipal Bond Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">U.S. municipal bonds posted strong returns during the fund’s fiscal year. At the same time, the U.S. Federal Reserve cut rates three times in response to growing labor market weakness. Long-term municipal yields initially rose to a multi-year high before gradually declining amid heightened market volatility and strong investor demand. The municipal yield curve remains steep relative to the last five years, continuing the appeal of longer dated maturities. </div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Within the fund, investments in housing bonds were particularly additive. Holdings in the corporate, transportation and health care sectors also added value. Additionally, duration and curve positioning helped the fund’s relative returns. </div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Conversely, the fund’s holdings in general obligation and non-general obligation government bonds weighed on returns relative to the benchmark. Likewise, investments in utility and escrowed bonds negatively impacted relative results. </div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538811.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total <div style="display:inline;">returns</div></div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group Municipal Income ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.23<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">6.22<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg Municipal Bond <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.21<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;"><div style="-sec-ix-hidden:hidden6781168;display:inline;">85%/15% Bloomberg 1-15 Year Blend (1-17 Year) Municipal Bond Index/Bloomberg 1-15 Year</div> Blend (1-17 Year) High Yield Municipal Bond <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index<div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.95<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.03<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on October 25, 2022.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group Municipal Income ETF (at NAV) 0.0523 0.0622 Bloomberg Municipal Bond Index 0.0425 0.0521 0.0495 0.0503 2022-10-25 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>4,803</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio <div style="display:inline;">holdings</div></td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,938</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>10</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">26<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 4803000000 1938 10000000 0.26 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538817.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> Capital Group Municipal High-Income ETF Capital Group Municipal High-Income ETF CGHM This annual shareholder report contains important information about Capital Group Municipal High-Income ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGHM</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>35</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.34<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 35 0.0034 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 4.40% on a net asset value (NAV) basis and 4.55% on a market price basis for the year ended December 31, 2025. These results compare with a 3.36% gain for the 70%/20%/10% Bloomberg Muni HY Index/Bloomberg Muni BBB Index/Bloomberg Muni Bond Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Over the past year, the municipal bond market delivered solid results as investors responded to shifting monetary policy and improving sentiment. The Federal Reserve lowered interest rates several times, which supported demand for tax exempt securities. Short maturity yields generally moved lower, while longer maturities experienced periods of volatility before easing toward year end. Overall conditions remained supportive for income oriented strategies within the municipal market.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Most sectors within the fund contributed positively to results. Housing-related holdings were especially additive, while corporate and transportation exposures also enhanced returns. Utilities contributed gains as well, though to a lesser extent. Curve positioning provided additional support during the period, while duration positioning remained broadly neutral. High-yield municipal bonds further benefited the portfolio as tax equivalent yields remained attractive relative to other risk assets.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Most sectors within the fund contributed positively to results. Housing-related holdings were especially additive, while corporate and transportation exposures also enhanced returns. Utilities contributed gains as well, though to a lesser extent. Curve positioning provided additional support during the period, while duration positioning remained broadly neutral. High-yield municipal bonds further benefited the portfolio as tax equivalent yields remained attractive relative to other risk assets.</div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1539031.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total returns</div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group Municipal High-Income ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.40<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.74<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg Municipal Bond <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">3.63<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">70%/20%/10% Bloomberg Muni HY Index/Bloomberg Muni BBB Index/Bloomberg Muni Bond <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">3.36<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">3.45<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on June 25, 2024.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When <div style="display:inline;">applicable</div>, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group Municipal High-Income ETF (at NAV) 0.044 0.0474 Bloomberg Municipal Bond Index 0.0425 0.0363 70%/20%/10% Bloomberg Muni HY Index/Bloomberg Muni BBB Index/Bloomberg Muni Bond Index 0.0336 0.0345 2024-06-25 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in <div style="display:inline;">millions</div>)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>2,483</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">3,283</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">15<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 2483000000 3283 3000000 0.15 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1539037.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div></div> Capital Group Short Duration Income ETF Capital Group Short Duration Income ETF CGSD This annual shareholder report contains important information about Capital Group Short Duration Income ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGSD</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>26</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 26 0.0025 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 6.20% on a net asset value (NAV) basis and 6.11% on a market price basis for the year ended December 31, 2025. These results compare with a 5.35% gain for the Bloomberg U.S. Government/Credit (1-3 years) Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund’s fiscal year, the U.S. bond market posted strong returns. Corporate bond yields declined during the period, resulting in positive excess returns. Securitized bonds also had strong returns. The U.S. Federal Reserve cut its policy rate three times in response to labor market weakness and economic uncertainty. This pushed U.S. short-term yields lower, and the yield curve steepened. </div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Within the fund, holdings in securitized debt and investment-grade corporate bonds were significant contributors relative to the benchmark. Duration positioning also added to relative returns. </div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund was positioned for a steepening of the yield curve and was modestly overweight to the front end of the curve and underweight to the 10-year section of the curve. The steepening of the yield curve added to results. However, this was more than offset by negative convexity from mortgage positions, negative roll-down effects and negative government carry from derivative positions, which all detracted. Certain asset-backed securities were among the top detractors by issuer.</div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538723.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total returns</div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group Short Duration Income ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">6.20<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.85<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Aggregate <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.30<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.55<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Government/Credit (1-3 years) <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.35<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.83<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on October 25, 2022.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without <div style="display:inline;">which </div>they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group Short Duration Income ETF (at NAV) 0.062 0.0585 Bloomberg U.S. Aggregate Index 0.073 0.0555 Bloomberg U.S. Government/Credit (1-3 years) Index 0.0535 0.0483 2022-10-25 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund <div style="display:inline;">statistics</div></div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>1,872</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">965</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate including<br/>mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">128<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate excluding mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">32<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 1872000000 965 3000000 1.28 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio holdings by asset type</div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538729.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 9pt; color: rgb(0, 0, 0); margin-bottom: 4pt; padding-left: 147pt;">*Includes derivatives.</div></div> Capital Group Short Duration Municipal Income ETF Capital Group Short Duration Municipal Income ETF CGSM This annual shareholder report contains important information about Capital Group Short Duration Municipal Income ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGSM</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>26</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 26 0.0025 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 4.67% on a net asset value (NAV) basis and 4.58% on a market price basis for the year ended December 31, 2025. These results compare with a 4.11% gain for the Bloomberg Municipal Short 1-5 Years Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund’s fiscal year, U.S. municipal bonds posted strong returns. The U.S. Federal Reserve cut rates three times in response to ongoing labor market weakness. Long-term municipal yields initially rose to a multi-year high amid heightened market volatility and strong investor demand. The municipal yield curve remains steep relative to the last five years, continuing the appeal of longer dated maturities.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund period, sector allocation contributed to relative returns, mainly due to significant overweights in housing and corporate bonds along with a sizable underweight to general obligation debt. Security selection in special tax bonds, as well as utilities, health care and education were also positive.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Security selection in corporates and governmental (non-general obligation) bonds slightly detracted from relative returns. </div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538899.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total <div style="display:inline;">returns</div></div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group Short Duration Municipal Income ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.67<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.53<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg Municipal Bond <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.25<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.58<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg Municipal Short 1-5 Years <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.11<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.21<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on September 26, 2023.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group Short Duration Municipal Income ETF (at NAV) 0.0467 0.0553 Bloomberg Municipal Bond Index 0.0425 0.0558 Bloomberg Municipal Short 1-5 Years Index 0.0411 0.0421 2023-09-26 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund <div style="display:inline;">statistics</div></div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>954</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">797</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>2</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">55<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 954000000 797 2000000 0.55 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio quality summary</div> <div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;"> <div style=";display:inline;vertical-align: super;font-size:10.1px">*</div> </div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538905.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">*</div> Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard &amp; Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard &amp; Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 4pt; margin-left: 32pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">†</div> Includes derivatives.</div></div> Capital Group Ultra Short Income ETF Capital Group Ultra Short Income ETF CGUI This annual shareholder report contains important information about Capital Group Ultra Short Income ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGUI</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>18</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.18<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 18 0.0018 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 4.97% on a net asset value (NAV) basis and 5.01% on a market price basis for the year ended December 31, 2025. These results compare with a 4.18% gain for the ICE BofA 3 Month US Treasury Bill Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund’s fiscal year, U.S. short-term bonds delivered positive returns. In 2025, the U.S. Federal Reserve (Fed) implemented three rate cuts to support growth amid weakening labor market conditions. Short-term yields continued to decline, reflecting shifting expectations around the Fed’s rate cut trajectory. Notably, the yield on the U.S. three-month Treasury bill dropped to its lowest point in nearly three years.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Most sectors posted gains. Short-maturity investment-grade corporate bonds were the largest contributor to relative results as they represent roughly 50% of the fund. The allocation to financials added the most, followed by industrials. Commercial paper and government-related also added value, though to a lesser extent. Duration and curve positioning further contributed to the fund’s relative returns.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The sector allocation to asset-backed securities (ABS), which represent the largest securitized holdings, detracted slightly due to issuer-specific challenges.</div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538943.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total returns</div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group Ultra Short Income ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.97<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.37<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Aggregate <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.30<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.59<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">ICE BofA 3 Month US Treasury Bill <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.18<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">4.50<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on June 25, 2024.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When <div style="display:inline;">applicable</div>, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd. and ICE Data Indices, LLC.</div> Capital Group Ultra Short Income ETF (at NAV) 0.0497 0.0537 Bloomberg U.S. Aggregate Index 0.073 0.0559 ICE BofA 3 Month US Treasury Bill Index 0.0418 0.045 2024-06-25 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund <div style="display:inline;">statistics</div></div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in thousands)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>186,620</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">335</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in thousands)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>141</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">90<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 186620000 335 141000 0.90 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio holdings by asset type</div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538949.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 9pt; color: rgb(0, 0, 0); margin-bottom: 4pt; padding-left: 147pt;">*Includes derivatives.</div></div> Capital Group U.S. Multi-Sector Income ETF Capital Group U.S. Multi-Sector Income ETF CGMS This annual shareholder report contains important information about Capital Group U.S. Multi-Sector Income ETF (the "fund") for the period from January 1, 2025 to December 31, 2025. annual shareholder report You can find additional information about the fund at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-literature</div></div>. You can also request this information by contacting us at <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">(800) 421-4225</div>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="margin-bottom: 6pt;"><div style="margin-top: 0; letter-spacing: normal; text-transform: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 13pt; color: rgb(0, 0, 0); margin-bottom: 0;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 13pt; color: rgb(0, 95, 158);font-weight:bolder;display:inline;width:100%;">What were the fund costs for the last year?</div> (based on a hypothetical $10,000 investment)</div></div><div style="margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; margin-bottom: 3pt;"><tr style="break-after: avoid; border-bottom-style: none; border-bottom-width: initial; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 19.008pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 126.9pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Fund</div></td><td style="break-inside: avoid-page; padding: 3pt 6pt; font-size: 10pt; line-height: 10pt; width: 171.072pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255);"><div style="font-weight:bolder;display:inline;">Cost of $10,000 Investment</div></td><td style="break-inside: avoid-page; padding: 3pt 0px; font-size: 10pt; line-height: 10pt; width: 267.948pt; font-family: &quot;Times New Roman&quot;; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right: none;"><div style="font-weight:bolder;display:inline;">Costs paid as a percentage of a $10,000 investment</div></td></tr><tr style="border-bottom-width: initial; border-bottom-style: none; break-inside: avoid-page; height: 20pt; border-bottom-color: initial;"><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 126.9pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;">CGMS</td><td style="break-inside: avoid-page; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-family: 'Arial'; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; color: rgb(0, 0, 0); padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>41</td><td style="break-inside: avoid-page; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; font-family: 'Arial'; text-align: center; width: 267.948pt; color: rgb(0, 0, 0); padding-right: 0; padding-left: 0; vertical-align: bottom;">0.39<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div> 41 0.0039 <div style="font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; letter-spacing: normal; text-transform: none; color: rgb(0, 95, 158); padding-top: 0; margin-top: 0; margin-bottom: 2.0016pt;">Management's discussion of fund performance</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund's shares gained 7.88% on a net asset value (NAV) basis and 7.52% on a market price basis for the year ended December 31, 2025. These results compare with a 7.30% gain for the Bloomberg U.S. Aggregate Index. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: &quot;Times New Roman&quot;; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;"><div style="font-weight:bolder;display:inline;">capitalgroup.com/ETF-returns</div></div>.</div><div style="margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); padding-top: 0; margin-top: 6pt;">What factors influenced results</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">During the fund’s fiscal year, the U.S. bond market posted strong returns. Corporate bond yields declined during the period but remained near their highest level in more than 15 years. The U.S. Federal Reserve cut its policy rate three times in response to labor market weakness and economic uncertainty, pushing short-term yields lower. Meanwhile, long-term yields remained elevated amid heavy issuance and a steepening yield curve.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">The fund’s holdings in investment-grade corporate bonds, high-yield derivatives and opportunistic bonds were particularly additive to results relative to the benchmark. Investment-grade derivatives and securitized debt also produced modest positive returns.</div><div style="margin-top: 0; font-weight: normal; font-family: 'Arial'; font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt; color: rgb(0, 0, 0); margin-bottom: 4.0032pt;">Conversely, investments in high-yield corporate bonds and cash &amp; money market instruments weighed on returns relative to the benchmark. Additionally, exposure to forward contracts negatively impacted relative results.</div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1538767.jpg" style="display: block; margin-left: auto; margin-right: auto; width: 550pt;"/> <div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; color: rgb(0, 0, 0); border-bottom-color: initial; padding-bottom: 0; margin-bottom: 4pt; margin-top: 0;">Average annual total returns</div><div style="margin-bottom: 3pt;"><table style="text-align:start; break-inside: avoid; table-layout: auto; width: 100%; border-collapse: collapse;"><tr style="break-after: avoid; border-bottom-style: solid; border-bottom-width: 0.5pt; break-inside: avoid-page; background-color: rgb(0, 95, 158); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; height: 16.9992pt; border-bottom-color: rgb(153, 153, 153);"><td style="break-inside: avoid-page; padding: 0px 2pt; white-space: nowrap; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(0, 0, 0); border-right: none; background-color: rgb(223, 229, 240);"><div style="display:inline;"></div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">1 year</div></td><td style="break-inside: avoid-page; padding: 0px 5pt; width: 64pt; font-family: &quot;Times New Roman&quot;; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right: 0.5pt solid rgb(255, 255, 255); background-color: rgb(0, 95, 158);"><div style="font-weight:bolder;display:inline;">Since inception<div style=";display:inline;vertical-align: super;font-size:9.2px">1</div></div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Capital Group U.S. Multi-Sector Income ETF (at <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">NAV)</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">2</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.88<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">9.53<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg U.S. Aggregate <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">7.30<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">5.55<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; height: auto; border-bottom-color: rgb(153, 153, 153); background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; vertical-align: middle; padding-top: 3pt; padding-right: 0; padding-bottom: 3pt; padding-left: 2pt;">Bloomberg Custom Multi-Sector Composite <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;">Index</div><div style="white-space: nowrap; letter-spacing: 0px; top: 0px;display:inline;"><div style=";display:inline;vertical-align: super;font-size:8.3px">3</div></div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">8.19<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td><td style="break-inside: avoid-page; white-space: nowrap; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 0; padding-bottom: 0; padding-left: 0;">8.91<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table></div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">1</div> The fund began investment operations on October 25, 2022.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">2</div> Investment results <div style="display:inline;">assume </div>all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower.</div><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 10pt; color: rgb(0, 0, 0); margin-bottom: 0; margin-left: 5pt; text-indent: -5pt;"><div style=";display:inline;vertical-align: super;font-size:7.4px">3</div> Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd.</div> Capital Group U.S. Multi-Sector Income ETF (at NAV) 0.0788 0.0953 Bloomberg U.S. Aggregate Index 0.073 0.0555 Bloomberg Custom Multi-Sector Composite Index 0.0819 0.0891 2022-10-25 The fund’s past performance is not a predictor of its future performance. The line chart and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="text-transform: none; margin-bottom: 2.0016pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158); margin-top: 10pt;">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid;"><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>3,930</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total number of <div style="display:inline;">portfolio</div> holdings</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">1,407</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);"><div style="float: none; letter-spacing: 0px; top: 0px;display:inline;">$</div>11</td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate including<br/>mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">52<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr><tr style="border-bottom-width: 0.5pt; border-bottom-style: solid; break-inside: avoid-page; border-bottom-color: rgb(153, 153, 153); height: auto;"><td style="break-inside: avoid-page; vertical-align: middle; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0); font-family: 'Arial'; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate excluding mortgage dollar roll transactions</td><td style="break-inside: avoid-page; text-align: right; vertical-align: middle; white-space: nowrap; font-weight: normal; padding-top: 3pt; padding-bottom: 3pt; padding-left: 0; padding-right: 0; font-family: 'Arial'; font-size: 9pt; line-height: 9pt; color: rgb(0, 0, 0);">40<div style="letter-spacing: 0px; top: 0px;display:inline;">%</div></td></tr></table> 3930000000 1407 11000000 0.52 <div style="padding-left: 10pt; margin-bottom: 7.5pt; padding-right: 0;"><div style="border-bottom-width: initial; border-bottom-style: none; font-family: 'Arial'; font-weight: normal; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 0, 0); margin-top: 10pt; margin-bottom: 2.0016pt; padding-bottom: 0; border-bottom-color: initial; padding-left: 27pt;"><div style="font-family: 'Times New Roman'; font-size: 11pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; color: rgb(0, 95, 158); margin-top: 10pt; margin-bottom: 3pt; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;font-weight:bolder;display:inline;">Portfolio holdings by asset type</div> (percent of net assets)</div></div><div style="padding-right: 0; display: inline-block; padding-left: 25pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1538773.jpg" style="float: right; width: 300pt;"/> </div><div style="padding-left: 10pt; padding-right: 0;"><div style="margin-top: 0; font-family: 'Arial'; font-weight: normal; font-size: 8pt; line-height: 9pt; color: rgb(0, 0, 0); margin-bottom: 4pt; padding-left: 147pt;">*Includes derivatives.</div></div> Includes derivatives. The fund began investment operations on September 26, 2023. Results assume all distributions are reinvested. Any market index shown is unmanaged, and therefore, has no expenses. Investors cannot invest directly in an index. Source(s): Bloomberg Index Services Ltd. Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, results reflect fee waivers and/or expense reimbursements, without which they would have been lower. The fund began investment operations on June 25, 2024. The fund began investment operations on October 25, 2022. Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated“ category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies. Annualized. Based on operations for the period from June 24, 2025 to December 31, 2025. Expenses for the full year would be higher. The fund began investment operations on February 22, 2022. Less than 0.01%. The fund began investment operations on June 24, 2025.