Filed pursuant to Rule 497(e)

under the Securities Act of 1933, as amended

Registration File No.: 333-290830

The fourth through sixth paragraphs of the “Investment Strategies” disclosure relating to the Fund under the “Principal Investment Strategies” heading under the “Additional Information about Principal Strategies and Risks” section in the Prospectus are hereby restated in their entirety as follows:

The portfolio managers employ a bottom-up stock-picking approach that seeks to make long-term investments in well-managed businesses with genuine and

sustainable competitive advantages. The portfolio managers manage and construct the portfolio relative to the Russell 1000 Growth Index, however Fund holdings could materially diverge from benchmark listings. Under normal circumstances, the intended outcome of this approach is a portfolio typically consisting of between 30 and 50 growth companies with the potential to outperform the Fund’s benchmarks over the long term. The portfolio managers focus on company research and the long-term outlook of companies and industries. Ideas can come from a wide variety of sources, including, but not limited to, research trips, company meetings, and relationships with industry thought leaders and academic institutions. Stock ideas are normally researched to assess a range of factors, including: long-term growth potential, geographic and industry positioning, competitive advantage, management, financial strength and valuation. The Fund is a non-diversified fund, which means that it may invest a relatively large percentage of its assets in a small number of issuers, industries or sectors. The Fund aims to hold securities for long periods (typically at least 5 years), which generally results in relatively low portfolio turnover and is in line with the portfolio managers’ long-term investment outlook. When assessing a company’s long-term growth prospects, the portfolio managers seek to identify and to incorporate a range of factors that are material to managing the Fund’s investment risks and maximizing capital appreciation. Such factors potentially include the environmental, social, and/or governance characteristics of the company, such as stewardship, sustainable business practices, and/or corporate culture. Additionally, a risk model is used to assist in the sizing of positions to implement the investment strategy while ensuring the portfolio is appropriate for an ETF. The risk model is not used to determine the underlying issuers to which the Fund seeks exposure, but rather incorporates data from third party vendors on metrics primarily related to the liquidity and characteristics of different instruments that may be used to gain desired exposures to underlying issuers and includes both qualitative and quantitative elements.

The portfolio managers believe a long-term investment horizon can allow the Fund to harness the asymmetry inherent in equity markets that allows successful investments to outpace losses in similarly sized positions that fail to thrive.

The portfolio managers may sell a holding in order to address what they perceive as a material deterioration in the investment case or to make other investments, manage overall portfolio risk (e.g. price movement dynamics), or as appropriate to make other investments or meet redemptions.

The “Annual Fund Operating Expenses” table and following “Example of Expenses” section in the subsection titled “Fees and Expenses” under “Baillie Gifford U.S. Equity Growth ETF” in the “Fund Summaries” section are restated in their entirety as follows:

Annual Fund Operating Expenses

(Expenses that you pay each year as a percentage of the value of your investment)

Example of Expenses

Although your actual costs may be higher or lower, based on these assumptions, your expenses would be:

The subsection titled “Investment Services” under “Investment Manager” in the “Fund Management” section is restated as it pertains to Baillie Gifford U.S. Equity Growth ETF as follows:

The subsection titled “Investment Management Fee” under “Management Services” in the “Manager” section of the SAI is restated as it pertains to Baillie Gifford U.S. Equity Growth ETF as follows:

Management

Investment Manager

Baillie Gifford Overseas Limited

Portfolio Managers

The subsection titled “Baillie Gifford U.S. Equity Growth ETF Team” under “Investment Teams” in the “Fund Management” section is revised to add the following information:

The section titled “Other Accounts” under “Investment Decisions by Portfolio Managers” in the “Manager” section of the SAI is revised to add the following information:

The following table shows information regarding other accounts managed by three portfolio managers previously not included in this Prospectus. The information is provided as of June 30, 2026. As of June 30, 2026 no portfolio manager named below owned beneficially any equity securities of the Fund.