The fund’s investment objectives are to produce income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal consistent with sound common stock investing.
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and example below.
| Shareholder fees (fees paid directly from your investment) |
| None |
| Annual fund operating expenses* (expenses that you pay each year as a percentage of the net asset value of your investment) | |
| Management fees | 0.33% |
| Other expenses | 0.00 |
| Total annual fund operating expenses | 0.33 |
* The fund’s Investment Advisory and Service Agreement provides that the investment adviser will pay all operating expenses of the fund, except for the management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under the fund’s 12b-1 plan (if any) and other non-routine or extraordinary expenses. Additionally, the fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund’s securities lending program, if any.
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.
The example assumes that you invest $10,000 in the fund for the time periods indicated and then sell all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the fund’s operating expenses remain the same. No fees are charged by the fund upon the sale of fund shares, so you would incur these hypothetical costs whether or not you were to sell your shares at the end of the given period.
| 1 year | 3 years | 5 years | 10 years | |
| $34 | $106 | $185 | $418 |
| 1 year | 3 years | 5 years | 10 years | |
| $34 | $106 | $185 | $418 |
The fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the fund’s investment results. During the most recent fiscal year, the fund’s portfolio turnover rate was 24% of the average value of its portfolio.
Normally, the fund invests at least 80% of its assets in dividend value investments. For purposes of this policy, dividend value investments are investments in dividend-paying common stocks that are expected to contribute to the fund’s objective of producing income exceeding the average yield on U.S. stocks generally, and dividend-paying common stocks are common stocks that are expected to pay dividends based on the company’s dividend yield and dividend history. In addition, the fund primarily invests in larger, more established companies domiciled in the United States with market capitalizations greater than $4.0 billion. The fund also ordinarily invests at least 90% of its equity assets in the stock of companies that have issuer ratings of at least investment grade by Nationally Recognized Statistical Rating Organizations designated by the fund’s investment adviser or that are unrated but determined to be of equivalent quality by the fund’s investment adviser. The fund may invest up to 10% of its assets in equity securities of larger companies domiciled outside the United States. The fund invests, under normal market conditions, at least 90% of its assets in equity securities. The fund is designed for investors seeking both income and capital appreciation.
The investment adviser uses a system of multiple portfolio managers in managing assets. Under this approach, a portfolio is divided into segments managed by individual managers. For more information regarding the investment process of the fund, see the “Management and organization” section of this prospectus.
The fund relies on the professional judgment of its investment adviser to make decisions about the fund’s portfolio investments. The basic investment philosophy of the investment adviser is to seek to invest in attractively valued companies that, in its opinion, represent good, long-term investment opportunities. Securities may be sold when the investment adviser believes that they no longer represent relatively attractive investment opportunities.
The following bar chart shows how the fund’s investment results have varied from year to year, and the following table shows how the fund’s average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund’s investment universe. This information provides some indication of the risks of investing in the fund. Past investment results (before and after taxes) are not predictive of future investment results. Updated information on the fund’s investment results can be obtained by visiting capitalgroup.com/etf.
The following bar chart shows how the fund’s investment results have varied from year to year, and the following table shows how the fund’s average annual total returns for various periods compare with a broad measure of securities market results and, if applicable, other measures of market results that reflect the fund’s investment universe.
Highest/Lowest quarterly results during this period were:
Highest 13.33% (quarter ended December 31, 2023)
Lowest -2.80% (quarter ended December 31, 2024)
The fund's total return for the six months ended June 30, 2026, was 13.70%
| Average annual total returns For the periods ended December 31, 2025: | 1 year | Lifetime |
| Fund (inception date – 2/22/2022) | 25.51% | 17.76% |
| − After taxes on distributions | 25.10 | 17.31 |
| − After taxes on distributions and sale of fund shares | 15.36 | 14.10 |
| Indexes | 1 year | Lifetime (since fund’s inception) |
| S&P 500 Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 17.88% | 14.48% |
| Russell 1000 Value Index (reflects no deductions for sales charges, account fees, expenses or U.S. federal income taxes) | 15.91 | 9.76 |
After-tax returns are calculated using the highest individual federal income tax rates in effect during each year of the periods shown and do not reflect the impact of state and local taxes. Your actual after-tax returns depend on your individual tax situation and likely will differ from the results shown above.