0001870130 2025-06-01 2026-05-31 0001870130 cik0001870130:C000231857Member 2025-06-01 2026-05-31 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2025-06-01 2026-05-31 0001870130 cik0001870130:C000231857Member 2022-02-22 2022-02-22 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2022-02-22 0001870130 cik0001870130:C000231857Member 2022-02-22 2022-05-31 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2022-05-31 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2022-11-30 0001870130 cik0001870130:C000231857Member 2022-02-22 2022-11-30 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2023-05-31 0001870130 cik0001870130:C000231857Member 2022-02-22 2023-05-31 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2023-11-30 0001870130 cik0001870130:C000231857Member 2022-02-22 2023-11-30 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2024-05-31 0001870130 cik0001870130:C000231857Member 2022-02-22 2024-05-31 0001870130 cik0001870130:C000231857Member 2022-02-22 2024-11-30 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2024-11-30 0001870130 cik0001870130:C000231857Member 2022-02-22 2025-05-31 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2025-05-31 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2025-11-30 0001870130 cik0001870130:C000231857Member 2022-02-22 2025-11-30 0001870130 cik0001870130:MSCIACWIAllCountryWorldIndexexUSAMember 2022-02-22 2026-05-31 0001870130 cik0001870130:C000231857Member 2022-02-22 2026-05-31 0001870130 cik0001870130:C000231857Member 2026-05-31 0001870130 cik0001870130:C000231857Member oef:CommunicationsSectorMember 2026-05-31 0001870130 cik0001870130:C000231857Member oef:ConsumerDiscretionarySectorMember 2026-05-31 0001870130 cik0001870130:C000231857Member us-gaap:EnergySectorMember 2026-05-31 0001870130 cik0001870130:C000231857Member oef:UnclassifiedSectorMember 2026-05-31 0001870130 cik0001870130:C000231857Member cik0001870130:OtherSecuritiesMember 2026-05-31 0001870130 cik0001870130:C000231857Member cik0001870130:ShortTermSecuritiesAndOtherAssetsLessLiabilitiesMember 2026-05-31 0001870130 cik0001870130:C000231857Member oef:InformationTechnologySectorMember 2026-05-31 0001870130 cik0001870130:C000231857Member oef:IndustrialSectorMember 2026-05-31 0001870130 cik0001870130:C000231857Member oef:MaterialsSectorMember 2026-05-31 0001870130 cik0001870130:C000231857Member us-gaap:FinancialServicesSectorMember 2026-05-31 iso4217:USD pure cik0001870130:Holding 10000 13758 16204 10000 9310 12691 11084 9322 8838 9191 9657 10729 15436 8964 9247 9415 10805 10866 10915 12205 false 0001870130 N-1A NYSEArca 0.0982 0.0701 0.0650 0.1018 0.0070 0.0380 0.2026 0.1522 0.1415 0.1236 N-CSR Capital Group International Focus Equity ETF 2026-05-31 Capital Group International Focus Equity ETF Capital Group International Focus Equity ETF CGXU This annual shareholder report contains important <span style="display:inline;">information </span>about Capital Group International Focus Equity ETF (the "fund") for the period from June 1, 2025 to May 31, 2026. annual shareholder report You can find additional information about the fund at <span style="text-decoration-line: underline; font-family: 'Times New Roman'; font-weight: bold; color: rgb(0, 95, 158); font-size: 10pt; line-height: 13pt; letter-spacing: -0.05pt;display:inline;">capitalgroup.com/ETF-literature</span>. You can also request this information by contacting us at <span style="display:inline;">(800) 421-4225</span>. capitalgroup.com/ETF-literature (800) 421-4225 <div style="font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 6pt;"><div style="margin-top: 0; margin-right: 0; margin-bottom: 0; margin-left: 0; font-family: 'Arial'; font-size: 10pt; font-weight: normal; line-height: 13pt; color: rgb(0, 0, 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="font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); margin-bottom: 4pt;"><table style="text-align:start; break-inside: avoid-page; page-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; break-inside: avoid-page; page-break-inside: avoid; 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; border-bottom-style: none; border-bottom-width: initial;"><td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 3pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; width: 126.9pt;">Fund</td><td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 3pt; width: 171.072pt; padding-right: 6pt; padding-bottom: 3pt; padding-left: 6pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt;">Cost of $10,000 Investment</td><td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 3pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; color: rgb(255, 255, 255); width: 267.948pt; padding-right: 0; padding-bottom: 3pt; padding-left: 0; border-right-color: initial; border-right-style: none; border-right-width: initial;">Costs paid as a percentage of a $10,000 investment</td></tr><tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; height: 20pt;"><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; text-align: center; padding-right: 6pt; padding-left: 6pt; width: 126.9pt; vertical-align: bottom;">CGXU</td><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; text-align: center; width: 171.072pt; padding-right: 6pt; padding-left: 6pt; vertical-align: bottom;"><div style="float: none;display:inline;">$</div>65</td><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; font-size: 10pt; line-height: 10pt; text-align: center; white-space: nowrap; width: 267.948pt; padding-right: 0; padding-left: 0; vertical-align: bottom;">0.54<div style="display:inline;">%</div></td></tr></table></div> 65 0.0054 <div style="margin-top: 0; margin-right: 0; margin-bottom: 2.0016pt; margin-left: 0; 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;">Management's discussion of fund performance</div><div style="margin-top: 0; margin-right: 0; margin-bottom: 4.0032pt; margin-left: 0; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: 11pt; letter-spacing: -0.04pt;">The fund's shares gained 39.26% on a net asset value (NAV) basis and 39.43% on a market price basis for the year ended May 31, 2026. These results compare with a 32.77% gain for the MSCI ACWI (All Country World Index) ex USA. For information on returns for additional periods, including the fund lifetime, please refer to <div style="text-decoration-line: underline; font-family: 'Times New Roman'; font-weight: bold; color: rgb(0, 95, 158); font-size: 9pt; line-height: 11pt; letter-spacing: -0.04pt;display:inline;">capitalgroup.com/ETF-returns</div>.</div><div style="margin-top: 6.9984pt; margin-right: 0; margin-bottom: 2.0016pt; margin-left: 0; color: rgb(0, 0, 0); font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; letter-spacing: normal; text-transform: none; padding-top: 0;">What factors influenced results</div><div style="margin-top: 0; margin-right: 0; margin-bottom: 4.0032pt; margin-left: 0; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); line-height: 11pt; letter-spacing: -0.04pt;">During the fund’s fiscal year, international equities posted solid gains, overcoming volatility driven by trade tensions and geopolitical uncertainty. Heavy investment in artificial intelligence continued to boost large-cap technology stocks. Meanwhile, energy shares surged on higher oil prices, driven by the Middle East conflict. European markets rose, aided by stronger domestic demand and a European Central Bank rate cut. Emerging markets also advanced, as strong semiconductor demand supported stocks in South Korea and Taiwan.</div><div style="margin-top: 0; margin-right: 0; margin-bottom: 4.0032pt; margin-left: 0; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: 11pt; letter-spacing: -0.04pt;">Within the fund, most sectors contributed to portfolio returns, led by information technology and materials. Holdings in financials, industrials and communication services were also positive. Geographically, companies based in South Korea, Canada and Japan were among the top contributors.</div><div style="margin-top: 0; margin-right: 0; margin-bottom: 4.0032pt; margin-left: 0; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: 11pt; letter-spacing: -0.04pt;">Conversely, holdings in the health care and consumer discretionary sectors posted negative returns during the period. Investments in companies based in Denmark and Germany detracted from the overall portfolio.</div> <img alt="Fund Performance - Growth of 10K" src="chartimages_1634120.jpg" style="width: 550pt;"/> <div style="margin-top: 0; margin-right: 0; margin-bottom: 4pt; margin-left: 0; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: left; letter-spacing: normal; text-transform: none; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; color: rgb(0, 0, 0);">Average annual <div style="display:inline;">total </div>returns</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"><tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; 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); border-bottom-style: solid; border-bottom-width: 0.5pt;"><td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 3pt; width: 60%; padding-right: 2pt; padding-bottom: 3pt; padding-left: 2pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right-color: initial; border-right-style: none; border-right-width: initial; background-color: rgb(223, 229, 240);"></td><td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 0; width: 64pt; padding-right: 5pt; padding-bottom: 0; padding-left: 5pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; background-color: rgb(0, 95, 158);">1 year</td><td style="break-inside: avoid-page; page-break-inside: avoid; padding-top: 0; width: 64pt; padding-right: 5pt; padding-bottom: 0; padding-left: 5pt; font-family: 'Times New Roman'; font-weight: bold; font-size: 10pt; line-height: 10pt; text-align: center; vertical-align: middle; white-space: nowrap; color: rgb(255, 255, 255); border-right-color: rgb(255, 255, 255); border-right-style: solid; border-right-width: 0.5pt; background-color: rgb(0, 95, 158);">Since inception<div style="font-size: smaller; vertical-align: super;display:inline;">1</div></td></tr><tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; background-color: rgb(255, 255, 255);"><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); line-height: 9pt; vertical-align: middle; width: 60%; text-align: left; padding-top: 3pt; padding-right: 2pt; padding-bottom: 3pt; padding-left: 2pt;">Capital Group International Focus Equity ETF (at <div style="white-space: nowrap;display:inline;">NAV)</div><div style="font-size: smaller; vertical-align: super;display:inline;">2</div></td><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); line-height: 9pt; width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 5pt; padding-bottom: 0; padding-left: 5pt; white-space: nowrap;">39.26<div style="display:inline;">%</div></td><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); line-height: 9pt; width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 5pt; padding-bottom: 0; padding-left: 5pt; white-space: nowrap;">10.71<div style="display:inline;">%</div></td></tr><tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(255, 255, 255); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;"><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); line-height: 9pt; vertical-align: middle; width: 60%; text-align: left; padding-top: 3pt; padding-right: 2pt; padding-bottom: 3pt; padding-left: 2pt;">MSCI ACWI (All Country World Index) ex <div style="white-space: nowrap;display:inline;">USA</div><div style="font-size: smaller; vertical-align: super;display:inline;">3</div></td><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); line-height: 9pt; width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 5pt; padding-bottom: 0; padding-left: 5pt; white-space: nowrap;">32.77<div style="display:inline;">%</div></td><td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); line-height: 9pt; width: 64pt; text-align: center; vertical-align: middle; padding-top: 0; padding-right: 5pt; padding-bottom: 0; padding-left: 5pt; white-space: nowrap;">11.97<div style="display:inline;">%</div></td></tr></table><div style="margin-top: 0; margin-right: 0; margin-bottom: 0; margin-left: 5pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; line-height: 10pt; text-indent: -5pt;"><div style="font-size: smaller; vertical-align: super;display:inline;">1</div> The fund began investment operations on February 22, 2022.</div><div style="margin-top: 0; margin-right: 0; margin-bottom: 0; margin-left: 5pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; line-height: 10pt; text-indent: -5pt;"><div style="font-size: smaller; vertical-align: super;display:inline;">2</div> Investment results assume all distributions are reinvested and reflect <div style="display:inline;">applicable </div>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; margin-right: 0; margin-bottom: 0; margin-left: 5pt; font-family: 'Arial'; font-weight: normal; color: rgb(0, 0, 0); font-size: 8pt; line-height: 10pt; text-indent: -5pt;"><div style="font-size: smaller; vertical-align: super;display:inline;">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): <div style="display:inline;">MSCI</div>.</div> Capital Group International Focus Equity ETF (at NAV) 0.3926 0.1071 MSCI ACWI (All Country World Index) ex USA 0.3277 0.1197 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 <div style="display:inline;">deduction </div>of taxes that a shareholder would pay on fund distributions or redemption of fund shares. <div style="margin-top: 10pt; margin-right: 0; margin-bottom: 3pt; margin-left: 0; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 11pt; letter-spacing: normal; color: rgb(0, 95, 158);">Key fund statistics</div><table style="text-align:start; width: 100%; border-collapse: collapse; break-inside: avoid-page; page-break-inside: avoid;"><tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt; border-top-color: rgb(153, 153, 153); border-top-style: solid; border-top-width: 0.5pt;"><td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; text-align: left; width: 70%; font-weight: normal;">Fund net assets (in millions)</td><td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; white-space: nowrap;"><div style="float: none;display:inline;">$</div>6,221</td></tr><tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt;"><td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; text-align: left; width: 70%; font-weight: normal;">Total number of portfolio holdings</td><td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; white-space: nowrap;">73</td></tr><tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt;"><td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; text-align: left; width: 70%; font-weight: normal;">Total advisory fees paid (in millions)</td><td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; white-space: nowrap;"><div style="float: none;display:inline;">$</div>24</td></tr><tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: rgb(153, 153, 153); border-bottom-style: solid; border-bottom-width: 0.5pt;"><td style="break-inside: avoid-page; page-break-inside: avoid; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; text-align: left; width: 70%; font-weight: normal;">Portfolio turnover rate</td><td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; vertical-align: middle; font-family: 'Arial'; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); padding-top: 3pt; padding-bottom: 3pt; line-height: 9pt; padding-right: 0; padding-left: 0; white-space: nowrap;">68<div style="display:inline;">%</div></td></tr></table> 6221000000 73 24000000 0.68 <div style="font-weight: normal; color: rgb(0, 0, 0); margin-top: 10pt; margin-right: 0; margin-bottom: 2.0016pt; margin-left: 10pt; font-family: 'Arial'; font-size: 10pt; line-height: 11pt; letter-spacing: normal; text-transform: none; text-align: left; padding-bottom: 0; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; padding-left: 27pt;"><div style="font-weight: bold; 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 sector </div>(percent of net assets)</div><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_1634126.jpg" style="display: block; width: 300pt;"/> <div style="margin-top: 0; margin-right: 0; margin-bottom: 2.0016pt; margin-left: 0; font-family: 'Times New Roman'; font-weight: bold; font-size: 11pt; line-height: 12pt; color: rgb(0, 95, 158);">Changes in and disagreements with accountants</div><div style="margin-top: 0; margin-right: 0; margin-bottom: 10pt; margin-left: 0; font-size: 9pt; font-weight: normal; color: rgb(0, 0, 0); font-family: 'Arial'; line-height: 11pt;">On July 3, 2025, PricewaterhouseCoopers LLP (“PwC”) was dismissed and Deloitte &amp; Touche LLP <div style="display:inline;">was </div>appointed as the fund’s independent registered public accounting firm for the fiscal year ending May 31, 2026 audit. The change in the fund’s independent registered public accounting firm was approved by the fund’s board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund’s fiscal years ended May 31, 2024 and May 31, 2025 and the subsequent interim period through July 14, 2025, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.</div> 2025-07-03 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 February 22, 2022. 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): MSCI.