0001540305 2026-05-05 2026-05-05 0001540305 ck0001540305:S000102980Member 2026-05-05 2026-05-05 497 ETF Series Solutions 0001540305 false N-1A <div style="margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Aptus October Deep Buffer ETF (OCDB)</span></div><div style="margin-bottom:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">(the “Fund”)</span></div><div style="text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Supplement dated September 30, 2026 to the Fund’s Prospectus and Summary Prospectus dated May 5, 2026</span></div><div style="margin-bottom:6pt;margin-top:12pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">As described in the Fund’s Summary Prospectus and Prospectus, shareholders are subject to a pre-determined upside return cap (“Cap”) from an investment in the Fund for a given period of approximately one year (the “Investment Period”). </span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:120%">On September 29, 2026, the previous Investment Period for the Fund ended. A new Investment Period for the fund began as of September 30, 2026 and will end on September 29, 2027. The Investment Period and Cap for each Fund is set forth below.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:20.650%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.101%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.417%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.632%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.632%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.632%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.236%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Investment <br/>Period Start</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Investment <br/>Period End</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Buffer (before Fund fees and expenses)*</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Buffer (after Fund fees and expenses)**</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Cap (before Fund <br/>fees and expenses)***</span></td><td colspan="3" style="padding:1.5pt 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:100%">Cap (after Fund <br/>fees and expenses)**</span></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #000;border-top:1pt solid #000;padding:1.5pt 1pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:100%">Aptus October Deep Buffer ETF</span></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:112%">September 30, 2026</span></td><td colspan="3" style="border-bottom:1pt solid #000000;border-top:0.5pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:112%">September 29, 2027</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:112%">4% through 34%</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:112%">4.75% through 34.75%</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:112%">15.69%</span></td><td colspan="3" style="border-bottom:1pt solid #000;border-top:0.5pt solid #000;padding:1.5pt 1pt;text-align:center;vertical-align:middle"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:400;line-height:112%">14.94%</span></td></tr></table></div><div style="margin-bottom:3pt;margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">*</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:9pt;font-weight:400;line-height:120%">    The Fund seeks to provide a “deep” Buffer against Underlying ETF losses between -4% and -34% over the Investment Period. The Fund does not seek to provide a Buffer against (1) the first 4% of Underlying ETF losses, and (2) Underlying ETF losses exceeding 34%.</span></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">**</span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:9pt;font-weight:400;line-height:120%">    For this purpose, Fund fees and expenses consist of the Fund’s total expense ratio and net options trading costs, if any. </span></div><div style="margin-top:3pt;padding-left:18pt;text-align:justify;text-indent:-18pt"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:5.85pt;font-weight:400;line-height:120%;position:relative;top:-3.15pt;vertical-align:baseline">***    </span><span style="color:#000000;font-family:'Times New Roman',serif;font-size:9pt;font-weight:400;line-height:120%">The Fund’s investment strategy is designed to provide upside participation that matches the share price performance of the Underlying ETF up to a Cap, which is determined prior to the start of each Investment Period. The Cap will change from Investment Period to Investment Period. The Fund does not seek to participate in any Underlying ETF gains beyond the Cap.</span></div><div style="margin-bottom:6pt;margin-top:6pt"><span><br/></span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify"><span><br/></span></div><div style="margin-bottom:6pt;margin-top:6pt"><span><br/></span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:center"><span style="color:#000000;font-family:'Times New Roman',serif;font-size:10pt;font-weight:700;line-height:120%">Please retain this Supplement with your Summary Prospectus and Prospectus for future reference.</span></div> Aptus October Deep Buffer ETF 2026-09-30 2026-05-05