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thornburg:Holdings false N-1A 0002038383 N-CSR Thornburg ETF Trust 2026-08-31 Thornburg Core Plus Bond ETF TPLS NASDAQ Annual Shareholder Report This <span id="xdx_900_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_z9sWs91hVIf">annual shareholder report</span> contains important information about the Thornburg Core Plus Bond ETF for the period from September 1, 2025 to August 31, 2026. annual shareholder report You can find additional information about the Fund at <span id="xdx_90D_eoef--AddlInfoWebsite_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zDItDAP1Pb14">https://www.thornburg.com​/download</span>. You can also request this information by contacting us at <span id="xdx_904_eoef--AddlInfoPhoneNumber_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zLS0d8aWRRM3">1‑800-847‑0200</span>. https://www.thornburg.com​/download 1‑800-847‑0200 This report also describes changes to the Fund that occurred during the reporting period. <p id="xdx_801_eoef--FactorsAffectingPerfTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_z0bwCTk0LWye" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: -8pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How did the Fund perform during the period and what affected its performance?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 37.32px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund outperformed the Bloomberg U.S. Aggregate Total Return Index Value USD (the “Index”) during the 12-month period ended August 31, 2026.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">Fixed income markets navigated a sharp shift in expectations issued by the Federal Reserve, from anticipated interest rate cuts in late 2025 to a more hawkish policy stance by mid-2026, as Treasury bond yields rose amid persistent fiscal and inflation concerns. Credit spreads remained tight throughout the period, while a record municipal bond issuance influenced the broader credit market environment.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">Active yield curve positioning within U.S. Treasury securities and broad-based security selection within the Fund contributed positively to performance relative to the Index. However, the Fund’s allocation effect and duration positioning detracted from relative performance.</p> The returns shown in the line graph and table assume the reinvestment of dividends and capital gains, but do not reflect the deduction of taxes that a shareholder would pay on distributions or the redemption of Fund shares. The performance information shown below represents past performance and is no guarantee of future results. For Fund performance current to the most recent month end, visit <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter">https://www.thornburg.com​/product/etfs/ecb/TPLS</span> or call <span style="box-sizing: border-box; font-weight: lighter">1‑800-847‑0200.</span> <p id="xdx_808_eoef--LineGraphTableTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_zvP1Gl0ZDaTg" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 6pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Cumulative Performance</p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; display: flex; justify-content: center"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: fit-content; table-layout: fixed; border-collapse: collapse; display: none"> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Date</div> </td> <td id="xdx_4B2_oef--ClassAxis_custom--C000255734Member_z4WunLsBujj" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Thornburg Core Plus Bond ETF</div> </td> <td id="xdx_4B2_oef--BroadBasedIndexAxis_custom--BloombergUSAggregateTotalReturnIndexValueUSDMember_zRRSKwM0lE99" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Bloomberg U.S. Aggregate Total Return Index Value USD</div> </td> </tr> <tr id="xdx_434_c20250204__20250204_eoef--AccmVal_pid_z74eihLkPIB4" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/4/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> </tr> <tr id="xdx_433_c20250205__20250228_eoef--AccmVal_pid_zXn1gj5Zna9f" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10198.3</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10194.34</div> </td> </tr> <tr id="xdx_43A_c20250205__20250331_eoef--AccmVal_pid_zqTCyQortNNb" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10194.86</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10198.17</div> </td> </tr> <tr id="xdx_435_c20250205__20250430_eoef--AccmVal_pid_z9wgT1wI6m38" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10208.55</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10238.25</div> </td> </tr> <tr id="xdx_432_c20250205__20250531_eoef--AccmVal_pid_zV8uwkxb6Mud" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10135.1</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10164.95</div> </td> </tr> <tr id="xdx_43F_c20250205__20250630_eoef--AccmVal_pid_zawgD6ZhhMRg" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10305.07</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10321.25</div> </td> </tr> <tr id="xdx_433_c20250205__20250731_eoef--AccmVal_pid_zcZrMQF67xP7" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10272.87</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10294.02</div> </td> </tr> <tr id="xdx_43A_c20250205__20250831_eoef--AccmVal_pid_zW0RMMWrP3p9" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10379.24</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10417.14</div> </td> </tr> <tr id="xdx_437_c20250205__20250930_eoef--AccmVal_pid_zEbdTaQON3Ca" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10509.55</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10530.78</div> </td> </tr> <tr id="xdx_433_c20250205__20251031_eoef--AccmVal_pid_zCnFfxE4UARc" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10584.2</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10596.57</div> </td> </tr> <tr id="xdx_43F_c20250205__20251130_eoef--AccmVal_pid_zuQ12NIVlmld" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10647.57</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10662.42</div> </td> </tr> <tr id="xdx_435_c20250205__20251231_eoef--AccmVal_pid_z3M5FY7NDfUd" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10613.79</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10646.64</div> </td> </tr> <tr id="xdx_43B_c20250205__20260131_eoef--AccmVal_pid_zArplGQY7nI2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10640.12</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10658.01</div> </td> </tr> <tr id="xdx_431_c20250205__20260228_eoef--AccmVal_pid_zZ2og6uH7Vzf" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10827.39</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10832.55</div> </td> </tr> <tr id="xdx_43C_c20250205__20260331_eoef--AccmVal_pid_zoPWVYps58e4" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10600.51</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10641.65</div> </td> </tr> <tr id="xdx_43A_c20250205__20260430_eoef--AccmVal_pid_zGagvffFo0U4" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10620.29</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10653.6</div> </td> </tr> <tr id="xdx_439_c20250205__20260531_eoef--AccmVal_pid_zEQ4tyMZ0Ng9" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10670.88</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10686.74</div> </td> </tr> <tr id="xdx_439_c20250205__20260630_eoef--AccmVal_pid_zj5JRgw7y57" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10719.03</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10712.52</div> </td> </tr> <tr id="xdx_436_c20250205__20260731_eoef--AccmVal_pid_zfeEsbX5BpY2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10560.31</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10572.95</div> </td> </tr> <tr id="xdx_43E_c20250205__20260831_eoef--AccmVal_pid_zaRduqN52grg" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10613.49</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10614.1</div> </td> </tr> </table> </div> </div><img alt="line" src="qes4b6qm1muzzugha.jpg" style="box-sizing: border-box; width: 540pt; height: auto"/> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 8pt 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> 10000.0 10000.0 10198.3 10194.34 10194.86 10198.17 10208.55 10238.25 10135.1 10164.95 10305.07 10321.25 10272.87 10294.02 10379.24 10417.14 10509.55 10530.78 10584.2 10596.57 10647.57 10662.42 10613.79 10646.64 10640.12 10658.01 10827.39 10832.55 10600.51 10641.65 10620.29 10653.6 10670.88 10686.74 10719.03 10712.52 10560.31 10572.95 10613.49 10614.1 <p id="xdx_80B_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_zpMaZ61uGid2" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What were the Fund costs for the past <span style="box-sizing: border-box; font-weight: bold">year</span>?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 3pt; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(based on a hypothetical $10,000 investment)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Name</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs of a $10,000 investment</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs paid as a percentage of a $10,000 investment</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold"><span id="xdx_906_eoef--ClassName_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zBz3UzA6PsUd">Thornburg Core Plus Bond ETF</span></span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_985_eoef--ExpensesPaidAmt_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zRM9YY9bNe65" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$46.00</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98E_eoef--ExpenseRatioPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zWKKqNLG6bo6" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">0.45%</span> </div> </td> </tr> </table> </div> </div> </div> Thornburg Core Plus Bond ETF 46.00 0.0045 <div id="xdx_80D_eoef--AvgAnnlRtrTableTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_zBTI5mOwwbD5" style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Annual Performance</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">1 Year</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Core Plus Bond ETF</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zhYmeNAX4SWh" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">2.26%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Bloomberg U.S. Aggregate Total Return Index Value USD</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--BroadBasedIndexAxis__custom--BloombergUSAggregateTotalReturnIndexValueUSDMember_zYt7o1jKgAp5" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">1.89%</span> </div> </td> </tr> </table> </div> 0.0226 0.0189 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_zTBwPXdDYIGb" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 12pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Key Fund Statistics</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-size: 7pt"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Size (Millions)</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_pn5n6_c20260831__oef--ClassAxis__custom--C000255734Member_zJndth7QBlx5">14.8</span>M</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Number of Holdings</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_984_eoef--HoldingsCount_iI_uHoldings_c20260831__oef--ClassAxis__custom--C000255734Member_znSMCeBnr31f" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">345</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Portfolio Turnover</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98B_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zRSdaOXdG7xk" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">68.33%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Total Advisory Fee</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_902_eoef--AdvisoryFeesPaidAmt_pn5n6_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zabJpe6wmHvj">0.1</span>M</span> </div> </td> </tr> </table> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 2pt 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> 14800000 345 0.6833 100000 <div id="xdx_802_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_zv3ZgmbgKFy3" style="box-sizing: border-box; text-align-last: auto; position: relative"> <p style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What did the Fund invest in?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 8pt; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 8pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"></span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; display: table; border-collapse: collapse; table-layout: auto"> <tr style="box-sizing: border-box; height: auto"> <th colspan="2" style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: left; padding-left: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Credit Quality Ratings*</div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: right; padding-right: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">(%)</div> </th> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #dbdce2"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">U.S. Government</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--USGovernmentMember_fKg_____zP8PnUwySFkc" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">31.9</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #33385b"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">AAA</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_981_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--AAAMember_fKg_____z7P1HWmtyzga" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">18.1</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #b7b9c5"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">AA</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_981_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--AAMember_fKg_____z7zTjJKWoTkg" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">5.3</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #575b78"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">A</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_984_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--AMember_fKg_____ze9TXxJT5MIf" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">11.4</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #c3c4cf"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">BBB</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98F_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--BBBMember_fKg_____zirNmPAYHsk2" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">21.0</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #7b7e95"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Below Invest. Grade</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98D_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--BelowInvestGradeMember_fKg_____zAeT35xWlSVg" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">6.0</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #0f153e"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">NR</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98D_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--NRsMember_fKg_____zXGm5mFIDiSa" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">4.1</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #dbdce2"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Cash Equivalents &amp; Other</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255734Member__oef--CreditQualityAxis__custom--CashEquivalentsAndOtherMember_fKg_____zLoOhJ64Qpk" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">2.1</div> </td> </tr> </table> </div> </div> </div> </div> <p style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <p style="font: normal 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; display: block; min-height: 13.06px; align-content: center; line-height: 13.06px; box-sizing: border-box; color: #00103f; text-indent: 0">Expressed as a percentage of the Fund’s net assets.</p> <table cellpadding="0" cellspacing="0" style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; color: #00103f; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F0F_zwf8M5B4WUlc" style="font-weight: normal">*</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F11_z1fReN0dDcSl" style="font-weight: normal">Credit quality ratings shown above reflect the highest rating assigned by either S&amp;P Global Ratings or Moody’s Investors Services, both of which are independent, nationally recognized statistical rating organizations. If a credit rating for an investment is not available from either S&amp;P or Moody’s, then the Fund’s investment advisor will determine the credit quality of the investment. Investments are considered to be investment grade if they are rated within the four highest grades by S&amp;P or Moody’s (BBB/Baa or higher) or, if no credit rating is available, have been judged to be of comparable quality by the Fund’s investment advisor. (NR = Not Rated)</span></td> </tr></table> </div> <div style="grid-column: 2 / 3; grid-row: 3 / 4; text-align-last: auto; width: 270pt; height: auto; box-sizing: border-box; min-width: 0; overflow-wrap: break-word"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> </div> </div><img alt="doughnut" src="qes3egey1muq12g8k.jpg" style="box-sizing: border-box; width: 100%; height: auto"/> </div> </div> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> </div> 0.319 0.181 0.053 0.114 0.210 0.060 0.041 0.021 <p id="xdx_80E_eoef--MaterialFundChngTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_zIpdhoQjYY0j" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How has the Fund changed?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; text-align: left">This is a summary of certain changes to the Fund since <span style="box-sizing: border-box; font-weight: lighter">September 1, 2025</span>. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by <span style="box-sizing: border-box; font-weight: lighter">December 30, 2026</span> at <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter"><span id="xdx_90D_eoef--UpdProspectusWebAddress_dd_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_zm0ZSW6AxcPi">https://www.thornburg.com​/download</span></span> or upon request by calling <span style="box-sizing: border-box; font-weight: lighter"><span id="xdx_908_eoef--UpdProspectusPhoneNumber_dd_c20250901__20260831__oef--ClassAxis__custom--C000255734Member_z30pgzP10aD7">1‑800-847‑0200</span></span>.</p> https://www.thornburg.com​/download 1‑800-847‑0200 <p id="xdx_80B_eoef--AccountantChngDisagreementsTextBlock_hoef--ClassAxis__custom--C000255734Member_dD_zJke7fHgGdx9" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Changes In and Disagreements with Accountants</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0">No changes and/or disagreements occurred in the current reporting period.</p> Thornburg International Equity ETF TXUE NASDAQ This <span id="xdx_903_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zoZpSIFFRQej">annual shareholder report</span> contains important information about the Thornburg International Equity ETF for the period from September 1, 2025 to August 31, 2026. annual shareholder report You can find additional information about the Fund at <span id="xdx_909_eoef--AddlInfoWebsite_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zDS2wQGFMP99">https://www.thornburg.com​/download</span>. You can also request this information by contacting us at <span id="xdx_902_eoef--AddlInfoPhoneNumber_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zlQYelIwf9n5">1‑800-847‑0200</span>. https://www.thornburg.com​/download 1‑800-847‑0200 This report also describes changes to the Fund that occurred during the reporting period. <p id="xdx_801_eoef--FactorsAffectingPerfTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_zVuXZswuCoSk" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: -8pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How did the Fund perform during the period and what affected its performance?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 37.32px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund outperformed the MSCI EAFE Net Total Return USD Index (the “Index”) during the 12-month period ended August 31, 2026.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">Despite markets navigating shifts in inflation and monetary policy expectations, global growth remained resilient but uneven. Regional equity security performance exhibited wide dispersion and changing market leadership amid heightened geopolitical risk and currency volatility.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund’s sector allocations in health care and consumer staples contributed to performance relative to the Index, while allocations to financials and information technology sectors were detriments to relative performance. From a stock selection perspective, financials and communication services were the leading contributors to performance relative to the Index, while information technology and consumer discretionary were the primary detractors to relative performance.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">By geography, stock selection in the United Kingdom and France contributed most to performance relative to the Index, while stock selection and an underweight allocation to Japan were the leading detractors to relative performance. An overweight allocation to Emerging Asia (an economic classification encompassing countries like China, India, Vietnam, Malaysia, Indonesia, Thailand, and the Philippines) also contributed positively to relative performance.</p> The returns shown in the line graph and table assume the reinvestment of dividends and capital gains, but do not reflect the deduction of taxes that a shareholder would pay on distributions or the redemption of Fund shares. The performance information shown below represents past performance and is no guarantee of future results. For Fund performance current to the most recent month end, visit <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter">https://www.thornburg.com​/product/etfs/eie/TXUE</span> or call <span style="box-sizing: border-box; font-weight: lighter">1‑800-847‑0200.</span> <p id="xdx_808_eoef--LineGraphTableTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_z8RRCdWjJblc" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 6pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Cumulative Performance</p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; display: flex; justify-content: center"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: fit-content; table-layout: fixed; border-collapse: collapse; display: none"> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Date</div> </td> <td id="xdx_4B2_oef--ClassAxis_custom--C000255736Member_zvTd3Ka22Qej" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Thornburg International Equity ETF</div> </td> <td id="xdx_4B4_oef--BroadBasedIndexAxis_custom--MSCIEAFENetTotalReturnUSDIndexMember_zRKIyS5CuCq9" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">MSCI EAFE Net Total Return USD Index</div> </td> </tr> <tr id="xdx_430_c20250121__20250121_eoef--AccmVal_pid_ziDRIXJNSs95" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/21/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> </tr> <tr id="xdx_43C_c20250122__20250131_eoef--AccmVal_pid_zspDTWVroQP6" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10160.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10244.13</div> </td> </tr> <tr id="xdx_437_c20250122__20250228_eoef--AccmVal_pid_z6EgOqwjPxsd" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10304.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10442.79</div> </td> </tr> <tr id="xdx_437_c20250122__20250331_eoef--AccmVal_pid_zzkpgBprSnm8" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10484.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10400.66</div> </td> </tr> <tr id="xdx_436_c20250122__20250430_eoef--AccmVal_pid_zFKxyRFaPTSl" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10860.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10877.07</div> </td> </tr> <tr id="xdx_43A_c20250122__20250531_eoef--AccmVal_pid_zViWLeRtCcm8" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11508.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11374.73</div> </td> </tr> <tr id="xdx_43C_c20250122__20250630_eoef--AccmVal_pid_zPgYxpHmUUOf" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11736.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11625.35</div> </td> </tr> <tr id="xdx_430_c20250122__20250731_eoef--AccmVal_pid_zTBe4spaHJ6" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11688.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11462.17</div> </td> </tr> <tr id="xdx_436_c20250122__20250831_eoef--AccmVal_pid_z6BkP5TMxvUj" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11988.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11950.83</div> </td> </tr> <tr id="xdx_43F_c20250122__20250930_eoef--AccmVal_pid_zTZEXwiYEfA9" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12120.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12179.55</div> </td> </tr> <tr id="xdx_432_c20250122__20251031_eoef--AccmVal_pid_zuzLjRwAdAwj" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12128.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12322.83</div> </td> </tr> <tr id="xdx_43E_c20250122__20251130_eoef--AccmVal_pid_zVbOd1cWyOKj" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12360.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12399.34</div> </td> </tr> <tr id="xdx_43C_c20250122__20251231_eoef--AccmVal_pid_zieRXLNRYY86" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12656.66</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12771.31</div> </td> </tr> <tr id="xdx_432_c20250122__20260131_eoef--AccmVal_pid_zB1Dvd9WVul2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">13283.42</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">13437.77</div> </td> </tr> <tr id="xdx_43D_c20250122__20260228_eoef--AccmVal_pid_zCStIJ7n0rPi" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">14160.9</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">14059.5</div> </td> </tr> <tr id="xdx_437_c20250122__20260331_eoef--AccmVal_pid_zhPKl41GOEW9" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12777.97</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12612.78</div> </td> </tr> <tr id="xdx_43D_c20250122__20260430_eoef--AccmVal_pid_zOMDSzlsoykf" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">13708.01</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">13552.48</div> </td> </tr> <tr id="xdx_434_c20250122__20260531_eoef--AccmVal_pid_zx0wl9SSiG5f" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">14003.19</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">13968.12</div> </td> </tr> <tr id="xdx_433_c20250122__20260630_eoef--AccmVal_pid_zgYqNvk2HHp7" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">13898.06</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">13977.48</div> </td> </tr> <tr id="xdx_438_c20250122__20260731_eoef--AccmVal_pid_zxLz5q0WPWg7" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">14561.22</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">14251.04</div> </td> </tr> <tr id="xdx_435_c20250122__20260831_eoef--AccmVal_pid_zInkbVwNPis4" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">14670.4</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">14534.62</div> </td> </tr> </table> </div> </div><img alt="line" src="qes51kc1mumt5uer.jpg" style="box-sizing: border-box; width: 540pt; height: auto"/> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 8pt 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> 10000.0 10000.0 10160.0 10244.13 10304.0 10442.79 10484.0 10400.66 10860.0 10877.07 11508.0 11374.73 11736.0 11625.35 11688.0 11462.17 11988.0 11950.83 12120.0 12179.55 12128.0 12322.83 12360.0 12399.34 12656.66 12771.31 13283.42 13437.77 14160.9 14059.5 12777.97 12612.78 13708.01 13552.48 14003.19 13968.12 13898.06 13977.48 14561.22 14251.04 14670.4 14534.62 <p id="xdx_80B_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_zNUrdYJNpTPf" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What were the Fund costs for the past <span style="box-sizing: border-box; font-weight: bold">year</span>?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 3pt; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(based on a hypothetical $10,000 investment)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Name</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs of a $10,000 investment</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs paid as a percentage of a $10,000 investment</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold"><span id="xdx_900_eoef--ClassName_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zROX6binHRQ3">Thornburg International Equity ETF</span></span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_980_eoef--ExpensesPaidAmt_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_z2znWJHE7xAj" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$73.00</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98D_eoef--ExpenseRatioPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_z4JtaDif0au8" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">0.65%</span> </div> </td> </tr> </table> </div> </div> </div> Thornburg International Equity ETF 73.00 0.0065 <div id="xdx_80D_eoef--AvgAnnlRtrTableTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_zmFREDoaOkBf" style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Annual Performance</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">1 Year</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">International Equity ETF</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zVSNDUoI3zra" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">22.38%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">MSCI EAFE Net Total Return USD Index</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_981_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--BroadBasedIndexAxis__custom--MSCIEAFENetTotalReturnUSDIndexMember_zJiThXUTkaf8" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">21.62%</span> </div> </td> </tr> </table> </div> 0.2238 0.2162 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_zaAs7HZTKCo6" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 12pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Key Fund Statistics</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-size: 7pt"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Size (Millions)</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_906_eus-gaap--AssetsNet_iI_pn5n6_c20260831__oef--ClassAxis__custom--C000255736Member_zXnjPutj3F56">558.0</span>M</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Number of Holdings</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_985_eoef--HoldingsCount_iI_uHoldings_c20260831__oef--ClassAxis__custom--C000255736Member_zlr45iiKGMt5" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">50</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Portfolio Turnover</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_987_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zbkaBs5vDaph" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">10.04%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Total Advisory Fee</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_90E_eoef--AdvisoryFeesPaidAmt_pn5n6_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zQpdPUktyeAk">2.5</span>M</span> </div> </td> </tr> </table> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 2pt 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> 558000000.0 50 0.1004 2500000 <div id="xdx_802_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_zeK6x6M4VAY8" style="box-sizing: border-box; text-align-last: auto; position: relative"> <p style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What did the Fund invest in?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; display: table; border-collapse: collapse; table-layout: auto"> <tr style="box-sizing: border-box; height: auto"> <th colspan="2" style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: left; padding-left: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Market Capitalization Exposure</div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: right; padding-right: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">(%)</div> </th> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #dbdce2"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Small Cap (&lt;$2.5 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98F_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255736Member__us-gaap--InvestmentTypeAxis__custom--SmallCap25BMember_zZTo1lamCWI3" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">0.0</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #33385b"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Mid Cap ($2.5-12 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_984_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255736Member__us-gaap--InvestmentTypeAxis__custom--MidCap2512BMember_zAMnlhCYg8Rj" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">0.0</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #b7b9c5"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Large Cap (&gt;$12 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98B_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255736Member__us-gaap--InvestmentTypeAxis__custom--LargeCap12BMember_z6qIYxVYHwHf" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">100.0</div> </td> </tr> </table> </div> </div> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <p style="font: normal 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; display: block; min-height: 13.06px; align-content: center; line-height: 13.06px; box-sizing: border-box; color: #00103f; text-indent: 0">Expressed as a percentage of the Fund’s net assets.</p> </div> <div style="grid-column: 2 / 3; grid-row: 3 / 4; text-align-last: auto; width: 270pt; height: auto; box-sizing: border-box; min-width: 0; overflow-wrap: break-word"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> </div> </div><img alt="doughnut" src="qes51kc1mulivrrg.jpg" style="box-sizing: border-box; width: 100%; height: auto"/> </div> </div> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> </div> 0.000 0.000 1.000 <p id="xdx_80E_eoef--MaterialFundChngTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_ziilhr1bBmLl" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How has the Fund changed?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; text-align: left">This is a summary of certain changes to the Fund since <span style="box-sizing: border-box; font-weight: lighter">September 1, 2025</span>. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by <span style="box-sizing: border-box; font-weight: lighter">December 30, 2026</span> at <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter"><span id="xdx_907_eoef--UpdProspectusWebAddress_dd_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_z98P1fpzJjSk">https://www.thornburg.com​/download</span></span> or upon request by calling <span style="box-sizing: border-box; font-weight: lighter"><span id="xdx_909_eoef--UpdProspectusPhoneNumber_dd_c20250901__20260831__oef--ClassAxis__custom--C000255736Member_zEhaWp57vxYa">1‑800-847‑0200</span></span>.</p> https://www.thornburg.com​/download 1‑800-847‑0200 <p id="xdx_80B_eoef--AccountantChngDisagreementsTextBlock_hoef--ClassAxis__custom--C000255736Member_dD_zI7m5kpggXP4" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Changes In and Disagreements with Accountants</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0">No changes and/or disagreements occurred in the current reporting period.</p> Thornburg International Growth ETF TXUG NASDAQ This <span id="xdx_90C_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zyBrG0dgdccc">annual shareholder report</span> contains important information about the Thornburg International Growth ETF for the period from September 1, 2025 to August 31, 2026. annual shareholder report You can find additional information about the Fund at <span id="xdx_903_eoef--AddlInfoWebsite_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_z0aZCb8tYxhl">https://www.thornburg.com​/download</span>. You can also request this information by contacting us at <span id="xdx_90D_eoef--AddlInfoPhoneNumber_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zfALfsjwdEe5">1‑800-847‑0200</span>. https://www.thornburg.com​/download 1‑800-847‑0200 This report also describes changes to the Fund that occurred during the reporting period. <p id="xdx_801_eoef--FactorsAffectingPerfTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zX3CcTnr3Dyf" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: -8pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How did the Fund perform during the period and what affected its performance?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 37.32px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund underperformed the MSCI EAFE Growth Net Total Return USD Index (the “Index”) during the 12-month period ended August 31, 2026.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">Despite markets navigating shifts in inflation and monetary policy expectations, global growth remained resilient but uneven. Regional equity security performance exhibited wide dispersion and changing market leadership amid heightened geopolitical risk and currency volatility.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund’s sector allocations in information technology and consumer staples contributed to performance relative to the Index, while allocations to industrials and communication services were detriments to relative performance. From a stock selection perspective, financials and utilities were the leading contributors to performance relative to the Index, while consumer discretionary and communication services were the primary detractors to relative performance.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">By geography, allocation effects in Taiwan and the Netherlands contributed most to performance relative to the Index, while allocations to Brazil and Japan were the leading detractors to relative performance. From a stock selection perspective, the United Kingdom and the Netherlands were the top contributors to performance relative to the Index, while Switzerland and Japan were the most significant detractors to relative performance.</p> The returns shown in the line graph and table assume the reinvestment of dividends and capital gains, but do not reflect the deduction of taxes that a shareholder would pay on distributions or the redemption of Fund shares. The performance information shown below represents past performance and is no guarantee of future results. For Fund performance current to the most recent month end, visit <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter">https://www.thornburg.com​/product/etfs/eig/TXUG</span> or call <span style="box-sizing: border-box; font-weight: lighter">1‑800-847‑0200.</span> <p id="xdx_808_eoef--LineGraphTableTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zfPmz0uSRzHd" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 6pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Cumulative Performance</p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; display: flex; justify-content: center"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: fit-content; table-layout: fixed; border-collapse: collapse; display: none"> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Date</div> </td> <td id="xdx_4B2_oef--ClassAxis_custom--C000255737Member_zj0UvIvsNaL5" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Thornburg International Growth ETF</div> </td> <td id="xdx_4BB_oef--BroadBasedIndexAxis_custom--MSCIEAFEGrowthNetTotalReturnUSDIndexMember_zticNIGUctSh" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">MSCI EAFE Growth Net Total Return USD Index</div> </td> </tr> <tr id="xdx_43C_c20250122__20250122_eoef--AccmVal_pid_zu2482qbGbr2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/22/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000</div> </td> </tr> <tr id="xdx_43A_c20250123__20250131_eoef--AccmVal_pid_zBZEu4J23Ng1" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10108</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10138.15</div> </td> </tr> <tr id="xdx_430_c20250123__20250228_eoef--AccmVal_pid_zVp5RdI8aIed" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9968</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10151.16</div> </td> </tr> <tr id="xdx_439_c20250123__20250331_eoef--AccmVal_pid_zgBlQaVOOG86" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9236</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9822.72</div> </td> </tr> <tr id="xdx_435_c20250123__20250430_eoef--AccmVal_pid_zVHSArEkTEhh" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9776</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10328.93</div> </td> </tr> <tr id="xdx_43E_c20250123__20250531_eoef--AccmVal_pid_znVJRfVsvdGj" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10164</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10863.92</div> </td> </tr> <tr id="xdx_434_c20250123__20250630_eoef--AccmVal_pid_zFkhJ58V6ZHg" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10320</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11152.63</div> </td> </tr> <tr id="xdx_437_c20250123__20250731_eoef--AccmVal_pid_zoTtP5Zo43lj" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10104</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10817.41</div> </td> </tr> <tr id="xdx_435_c20250123__20250831_eoef--AccmVal_pid_zyzWpmXXEe5k" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10248</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11120.93</div> </td> </tr> <tr id="xdx_437_c20250123__20250930_eoef--AccmVal_pid_zh9EPIqq8Ch1" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10228</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11401.62</div> </td> </tr> <tr id="xdx_430_c20250123__20251031_eoef--AccmVal_pid_zNbDfLElohyi" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10140</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11583.57</div> </td> </tr> <tr id="xdx_437_c20250123__20251130_eoef--AccmVal_pid_zTjo9DrEbcHl" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9728</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11413.15</div> </td> </tr> <tr id="xdx_43B_c20250123__20251231_eoef--AccmVal_pid_zSMR3tJWI7N3" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9830.76</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11613.99</div> </td> </tr> <tr id="xdx_437_c20250123__20260131_eoef--AccmVal_pid_zSJlmYP4DDg9" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10156.44</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12160.37</div> </td> </tr> <tr id="xdx_430_c20250123__20260228_eoef--AccmVal_pid_z6329FK0hNG" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10309.23</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12551.63</div> </td> </tr> <tr id="xdx_438_c20250123__20260331_eoef--AccmVal_pid_zhzHvCyglmjh" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9384.45</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11067.22</div> </td> </tr> <tr id="xdx_434_c20250123__20260430_eoef--AccmVal_pid_z33j64xoQ7O4" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10425.83</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12067.22</div> </td> </tr> <tr id="xdx_434_c20250123__20260531_eoef--AccmVal_pid_zDgC1DZvnRIi" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10803.78</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12571.74</div> </td> </tr> <tr id="xdx_43D_c20250123__20260630_eoef--AccmVal_pid_zeCOOrMw27Pj" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11053.07</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12675.1</div> </td> </tr> <tr id="xdx_433_c20250123__20260731_eoef--AccmVal_pid_zaOjjTGBn00d" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10819.87</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12459.03</div> </td> </tr> <tr id="xdx_43F_c20250123__20260831_eoef--AccmVal_pid_zQxlnqWiJ0b3" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11089.26</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12777.33</div> </td> </tr> </table> </div> </div><img alt="line" src="qes4dqejw1mumt4krt.jpg" style="box-sizing: border-box; width: 540pt; height: auto"/> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 8pt 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> 10000 10000 10108 10138.15 9968 10151.16 9236 9822.72 9776 10328.93 10164 10863.92 10320 11152.63 10104 10817.41 10248 11120.93 10228 11401.62 10140 11583.57 9728 11413.15 9830.76 11613.99 10156.44 12160.37 10309.23 12551.63 9384.45 11067.22 10425.83 12067.22 10803.78 12571.74 11053.07 12675.1 10819.87 12459.03 11089.26 12777.33 <p id="xdx_80B_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zOvAfAQ7GIlc" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What were the Fund costs for the past <span style="box-sizing: border-box; font-weight: bold">year</span>?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 3pt; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(based on a hypothetical $10,000 investment)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Name</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs of a $10,000 investment</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs paid as a percentage of a $10,000 investment</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold"><span id="xdx_90E_eoef--ClassName_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zSiEyHjDKWOf">Thornburg International Growth ETF</span></span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_984_eoef--ExpensesPaidAmt_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zRXx8Pu0Sodl" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$73.00</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_987_eoef--ExpenseRatioPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zwboq9Rsgmu6" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">0.70%</span> </div> </td> </tr> </table> </div> </div> </div> Thornburg International Growth ETF 73.00 0.0070 <div id="xdx_80D_eoef--AvgAnnlRtrTableTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zBD3Qy89Wa08" style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Annual Performance</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">1 Year</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">International Growth ETF</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zvaHS6QJv03b" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">8.21%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">MSCI EAFE Growth Net Total Return USD Index</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--BroadBasedIndexAxis__custom--MSCIEAFEGrowthNetTotalReturnUSDIndexMember_zntLICSShGA9" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">14.89%</span> </div> </td> </tr> </table> </div> 0.0821 0.1489 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zzvbmOMAstNa" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 12pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Key Fund Statistics</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-size: 7pt"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Size (Millions)</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_904_eus-gaap--AssetsNet_iI_pn5n6_c20260831__oef--ClassAxis__custom--C000255737Member_zZCWYRqLYmZk">4.4</span>M</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Number of Holdings</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98C_eoef--HoldingsCount_iI_uHoldings_c20260831__oef--ClassAxis__custom--C000255737Member_zQXEH0ioDQ9e" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">44</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Portfolio Turnover</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_981_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_z7pK5TVhtr5" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">40.62%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Total Advisory Fee</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98B_eoef--AdvisoryFeesPaidAmt_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zzGzkg9fijp6" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$33,961</span> </div> </td> </tr> </table> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 2pt 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> 4400000 44 0.4062 33961 <div id="xdx_802_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zsVChDKXv9hl" style="box-sizing: border-box; text-align-last: auto; position: relative"> <p style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What did the Fund invest in?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; display: table; border-collapse: collapse; table-layout: auto"> <tr style="box-sizing: border-box; height: auto"> <th colspan="2" style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: left; padding-left: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Market Capitalization Exposure</div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: right; padding-right: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">(%)</div> </th> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #dbdce2"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Small Cap (&lt;$2.5 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_984_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255737Member__us-gaap--InvestmentTypeAxis__custom--SmallCap25BMember_zN3ionO8Lpt2" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">2.1</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #33385b"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Mid Cap ($2.5-12 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_989_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255737Member__us-gaap--InvestmentTypeAxis__custom--MidCap2512BMember_zkh2egnTLYM" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">6.6</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #b7b9c5"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Large Cap (&gt;$12 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98E_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255737Member__us-gaap--InvestmentTypeAxis__custom--LargeCap12BMember_zES0lqOFd2if" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">91.3</div> </td> </tr> </table> </div> </div> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <p style="font: normal 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; display: block; min-height: 13.06px; align-content: center; line-height: 13.06px; box-sizing: border-box; color: #00103f; text-indent: 0">Expressed as a percentage of the Fund’s net assets.</p> </div> <div style="grid-column: 2 / 3; grid-row: 3 / 4; text-align-last: auto; width: 270pt; height: auto; box-sizing: border-box; min-width: 0; overflow-wrap: break-word"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> </div> </div><img alt="doughnut" src="qes3egey1muomcqny.jpg" style="box-sizing: border-box; width: 100%; height: auto"/> </div> </div> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> </div> 0.021 0.066 0.913 <p id="xdx_80E_eoef--MaterialFundChngTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zmFsII0LRtk" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How has the Fund changed?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; text-align: left">This is a summary of certain changes to the Fund since <span style="box-sizing: border-box; font-weight: lighter">September 1, 2025</span>. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by <span style="box-sizing: border-box; font-weight: lighter">December 30, 2026</span> at <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter"><span id="xdx_90A_eoef--UpdProspectusWebAddress_dd_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zQwlE4NPNzs9">https://www.thornburg.com​/download</span></span> or upon request by calling <span style="box-sizing: border-box; font-weight: lighter"><span id="xdx_903_eoef--UpdProspectusPhoneNumber_dd_c20250901__20260831__oef--ClassAxis__custom--C000255737Member_zjI9z5M3EdJf">1‑800-847‑0200</span></span>.</p> https://www.thornburg.com​/download 1‑800-847‑0200 <p id="xdx_806_eoef--AccountantChngDisagreementsTextBlock_hoef--ClassAxis__custom--C000255737Member_dD_zm3VOxlZ38l8" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Changes In and Disagreements with Accountants</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0">No changes and/or disagreements occurred in the current reporting period.</p> Thornburg Multi Sector Bond ETF TMB NASDAQ This <span id="xdx_900_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zrXdDbbXLqG4">annual shareholder report</span> contains important information about the Thornburg Multi Sector Bond ETF for the period from September 1, 2025 to August 31, 2026. annual shareholder report You can find additional information about the Fund at <span id="xdx_900_eoef--AddlInfoWebsite_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zOjbP1vv78Ll" style="text-decoration: none; font-weight: lighter">https://www.thornburg.com​/download</span>. You can also request this information by contacting us at <span id="xdx_905_eoef--AddlInfoPhoneNumber_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zXSQERi9GQ5g" style="font-weight: lighter">1‑800-847‑0200</span>. https://www.thornburg.com​/download 1‑800-847‑0200 This report also describes changes to the Fund that occurred during the reporting period. <p id="xdx_801_eoef--FactorsAffectingPerfTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zUrnWEhw70rg" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: -8pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How did the Fund perform during the period and what affected its performance?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 37.32px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund outperformed the Bloomberg U.S. Universal Total Return Index Value Unhedged (the “Index”) during the 12-month period ended August 31, 2026.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">Fixed income markets navigated a sharp shift in expectations issued by the Federal Reserve, from anticipated interest rate cuts in late 2025 to a more hawkish policy stance by mid-2026, as Treasury bond yields rose amid persistent fiscal and inflation concerns. Credit spreads remained tight throughout the period, while a record municipal bond issuance influenced the broader credit market environment.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 37.32px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">Security selection within corporate bonds and duration positioning were the primary contributors to performance relative to the Index. However, the Fund’s yield curve positioning detracted from relative performance.</p> The returns shown in the line graph and table assume the reinvestment of dividends and capital gains, but do not reflect the deduction of taxes that a shareholder would pay on distributions or the redemption of Fund shares. The performance information shown below represents past performance and is no guarantee of future results. For Fund performance current to the most recent month end, visit <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter">https://www.thornburg.com​/product/etfs/emb/TMB</span> or call <span style="box-sizing: border-box; font-weight: lighter">1‑800-847‑0200.</span> <p id="xdx_808_eoef--LineGraphTableTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zrKUnshbUOO9" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 6pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Cumulative Performance</p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; display: flex; justify-content: center"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: fit-content; table-layout: fixed; border-collapse: collapse; display: none"> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Date</div> </td> <td id="xdx_4B2_oef--ClassAxis_custom--C000255735Member_zZx2ec01ruJ1" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Thornburg Multi Sector Bond ETF</div> </td> <td id="xdx_4B1_oef--BroadBasedIndexAxis_custom--BloombergUSUniversalTotalReturnIndexValueUnhedgedMember_zke1Y5dunlGe" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Bloomberg U.S. Universal Total Return Index Value Unhedged</div> </td> <td id="xdx_4B2_oef--BroadBasedIndexAxis_custom--BloombergUSAggregateTotalReturnIndexValueUSDMember_zfimYTAddmba" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Bloomberg U.S. Aggregate Total Return Index Value USD</div> </td> </tr> <tr id="xdx_433_c20250204__20250204_eoef--AccmVal_pid_z8fbcje61oEg" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/4/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> </tr> <tr id="xdx_439_c20250205__20250228_eoef--AccmVal_pid_zngYLcqvahk" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10145.98</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10184.18</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10194.34</div> </td> </tr> <tr id="xdx_436_c20250205__20250331_eoef--AccmVal_pid_zmqe777CaHwl" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10157.56</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10181.76</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10198.17</div> </td> </tr> <tr id="xdx_43E_c20250205__20250430_eoef--AccmVal_pid_zrMffck1dkVa" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10207.67</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10217.72</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10238.25</div> </td> </tr> <tr id="xdx_434_c20250205__20250531_eoef--AccmVal_pid_z3V7FyYWcbtg" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10204.39</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10165.89</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10164.95</div> </td> </tr> <tr id="xdx_43D_c20250205__20250630_eoef--AccmVal_pid_zZptrk9B5e66" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10335.63</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10324.27</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10321.25</div> </td> </tr> <tr id="xdx_431_c20250205__20250731_eoef--AccmVal_pid_zDxXNUp7pM37" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10330.64</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10309.54</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10294.02</div> </td> </tr> <tr id="xdx_431_c20250205__20250831_eoef--AccmVal_pid_zVobE4zEpTDe" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10451.51</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10433.38</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10417.14</div> </td> </tr> <tr id="xdx_434_c20250205__20250930_eoef--AccmVal_pid_zE9qM60w6QU2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10520.56</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10543.92</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10530.78</div> </td> </tr> <tr id="xdx_43C_c20250205__20251031_eoef--AccmVal_pid_zulVS54KPtA2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10575.01</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10613.54</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10596.57</div> </td> </tr> <tr id="xdx_43E_c20250205__20251130_eoef--AccmVal_pid_zqJ64KFRgKC" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">11/30/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10642.78</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10677.55</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10662.42</div> </td> </tr> <tr id="xdx_43D_c20250205__20251231_eoef--AccmVal_pid_z1xgdeTbCAs9" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">12/31/2025</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10653.05</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10670.16</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10646.64</div> </td> </tr> <tr id="xdx_431_c20250205__20260131_eoef--AccmVal_pid_zy16lYejuVX2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">1/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10691.33</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10686.29</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10658.01</div> </td> </tr> <tr id="xdx_431_c20250205__20260228_eoef--AccmVal_pid_zORxl3JhLBO7" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">2/28/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10804.17</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10848.87</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10832.55</div> </td> </tr> <tr id="xdx_43D_c20250205__20260331_eoef--AccmVal_pid_zyrTYPKguena" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">3/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10669.23</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10654.65</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10641.65</div> </td> </tr> <tr id="xdx_43E_c20250205__20260430_eoef--AccmVal_pid_zoCHCgPStYha" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">4/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10707.75</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10687.21</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10653.6</div> </td> </tr> <tr id="xdx_432_c20250205__20260531_eoef--AccmVal_pid_zc420unR9hl6" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">5/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10742.4</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10724.69</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10686.74</div> </td> </tr> <tr id="xdx_436_c20250205__20260630_eoef--AccmVal_pid_zY6AyYYUxON2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10771.45</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10752.73</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10712.52</div> </td> </tr> <tr id="xdx_43A_c20250205__20260731_eoef--AccmVal_pid_zheuxczRR8Uk" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10700.43</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10621.19</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10572.95</div> </td> </tr> <tr id="xdx_43F_c20250205__20260831_eoef--AccmVal_pid_zEpugb8xrgZj" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10737.26</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10666.46</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10614.1</div> </td> </tr> </table> </div> </div><img alt="line" src="qes3egey1muzzwn21.jpg" style="box-sizing: border-box; width: 540pt; height: auto"/> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 8pt 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> 10000.0 10000.0 10000.0 10145.98 10184.18 10194.34 10157.56 10181.76 10198.17 10207.67 10217.72 10238.25 10204.39 10165.89 10164.95 10335.63 10324.27 10321.25 10330.64 10309.54 10294.02 10451.51 10433.38 10417.14 10520.56 10543.92 10530.78 10575.01 10613.54 10596.57 10642.78 10677.55 10662.42 10653.05 10670.16 10646.64 10691.33 10686.29 10658.01 10804.17 10848.87 10832.55 10669.23 10654.65 10641.65 10707.75 10687.21 10653.6 10742.4 10724.69 10686.74 10771.45 10752.73 10712.52 10700.43 10621.19 10572.95 10737.26 10666.46 10614.1 <p id="xdx_80B_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zKnO80Gbept3" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What were the Fund costs for the past <span style="box-sizing: border-box; font-weight: bold">year</span>?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 3pt; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(based on a hypothetical $10,000 investment)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Name</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs of a $10,000 investment</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs paid as a percentage of a $10,000 investment</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold"><span id="xdx_900_eoef--ClassName_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zz8lTJbZlun8">Thornburg Multi Sector Bond ETF</span></span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_983_eoef--ExpensesPaidAmt_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zdkpUHklLNQj" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$56.00</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_984_eoef--ExpenseRatioPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zxK9NYMAysT" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">0.55%</span> </div> </td> </tr> </table> </div> </div> </div> Thornburg Multi Sector Bond ETF 56.00 0.0055 <div id="xdx_80D_eoef--AvgAnnlRtrTableTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zrceqazW7Ezg" style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Annual Performance</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">1 Year</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Multi Sector Bond ETF</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zwqKUSip0nq6" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">2.73%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Bloomberg U.S. Aggregate Total Return Index Value USD</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--BroadBasedIndexAxis__custom--BloombergUSAggregateTotalReturnIndexValueUSDMember_zhoxh5yeMse4" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">1.89%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Bloomberg U.S. Universal Total Return Index Value Unhedged</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20250901__20260831__oef--BroadBasedIndexAxis__custom--BloombergUSUniversalTotalReturnIndexValueUnhedgedMember_zY986oRD3N95" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">2.23%</span> </div> </td> </tr> </table> </div> 0.0273 0.0189 0.0223 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zkjHkt20TMda" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 8pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Key Fund Statistics</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="box-sizing: border-box; font-size: 7pt"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Size (Millions)</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_902_eus-gaap--AssetsNet_iI_pn5n6_c20260831__oef--ClassAxis__custom--C000255735Member_zmaiLZ75YXL9">259.4</span>M</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Number of Holdings</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_980_eoef--HoldingsCount_iI_uHoldings_c20260831__oef--ClassAxis__custom--C000255735Member_z9CCcMUDzOFh" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">635</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Portfolio Turnover</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98C_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_z5dtExLsTg08" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">93.82%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Total Advisory Fee</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_90D_eoef--AdvisoryFeesPaidAmt_pn5n6_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zfkgkehIvGld">0.7</span>M</span> </div> </td> </tr> </table> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 2pt 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> 259400000 635 0.9382 700000 <div id="xdx_802_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zvgJGFYHxAvj" style="box-sizing: border-box; text-align-last: auto; position: relative"> <p style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What did the Fund invest in?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 8pt; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; display: table; border-collapse: collapse; table-layout: auto"> <tr style="box-sizing: border-box; height: auto"> <th colspan="2" style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: left; padding-left: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Fixed Income Credit Quality*</div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: right; padding-right: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">(%)</div> </th> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #dbdce2"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">U.S. Government</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_989_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--USGovernmentMember_fKg_____z6ZWU2qixgS6" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">30.6</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #33385b"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">AAA</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_983_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--AAAMember_fKg_____zaW9bGx6REfk" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">15.4</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #b7b9c5"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">AA</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--AAMember_fKg_____zEGk5PLWesCj" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">5.6</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #575b78"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">A</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98A_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--AMember_fKg_____zFJmibHjzHd2" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">9.7</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #c3c4cf"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">BBB</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--BBBMember_fKg_____zbytHX89za2" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">22.5</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #7b7e95"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Below Invest. Grade</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_986_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--BelowInvestGradeMember_fKg_____zPhzjqfnb2Qc" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">12.2</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #0f153e"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">NR</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_989_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--NRsMember_fKg_____zKtlDA8xaYab" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">2.7</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #dbdce2"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Cash Equivalents &amp; Other</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000255735Member__oef--CreditQualityAxis__custom--CashEquivalentsAndOtherMember_fKg_____ztLVxJBQBdva" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">1.3</div> </td> </tr> </table> </div> </div> </div> </div> <p style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <p style="font: normal 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; display: block; min-height: 13.06px; align-content: center; line-height: 13.06px; box-sizing: border-box; color: #00103f; text-indent: 0">Expressed as a percentage of the Fund’s net assets.</p> <table cellpadding="0" cellspacing="0" style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; color: #00103f; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right"><span id="xdx_F0C_zWWtGAUorxAc" style="font-weight: normal">*</span></td><td style="width: 5pt"></td><td style="text-align: justify"><span id="xdx_F15_z8JgU1hEHAbe" style="font-weight: normal">Credit quality ratings shown above reflect the highest rating assigned by either S&amp;P Global Ratings or Moody’s Investors Services, both of which are independent, nationally recognized statistical rating organizations. If a credit rating for an investment is not available from either S&amp;P or Moody’s, then the Fund’s investment advisor will determine the credit quality of the investment. Investments are considered to be investment grade if they are rated within the four highest grades by S&amp;P or Moody’s (BBB/Baa or higher) or, if no credit rating is available, have been judged to be of comparable quality by the Fund’s investment advisor. (NR = Not Rated)</span></td> </tr></table> </div> <div style="grid-column: 2 / 3; grid-row: 3 / 4; text-align-last: auto; width: 270pt; height: auto; box-sizing: border-box; min-width: 0; overflow-wrap: break-word"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> </div> </div><img alt="doughnut" src="qes4b6qm1muq11x68.jpg" style="box-sizing: border-box; width: 100%; height: auto"/> </div> </div> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> </div> 0.306 0.154 0.056 0.097 0.225 0.122 0.027 0.013 <p id="xdx_80E_eoef--MaterialFundChngTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zmm2BCn5Lixk" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How has the Fund changed?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; text-align: left">This is a summary of certain changes to the Fund since <span style="box-sizing: border-box; font-weight: lighter">September 1, 2025</span>. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by <span style="box-sizing: border-box; font-weight: lighter">December 30, 2026</span> at <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter"><span id="xdx_90F_eoef--UpdProspectusWebAddress_dd_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zHsIOhsusQFb">https://www.thornburg.com​/download</span></span> or upon request by calling <span style="box-sizing: border-box; font-weight: lighter"><span id="xdx_90C_eoef--UpdProspectusPhoneNumber_dd_c20250901__20260831__oef--ClassAxis__custom--C000255735Member_zGFuSlNBDko">1‑800-847‑0200</span></span>.</p> https://www.thornburg.com​/download 1‑800-847‑0200 <p id="xdx_805_eoef--AccountantChngDisagreementsTextBlock_hoef--ClassAxis__custom--C000255735Member_dD_zNwdZldTpesf" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Changes In and Disagreements with Accountants</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0">No changes and/or disagreements occurred in the current reporting period.</p> Thornburg Premium Income Builder ETF THOR NASDAQ This <span id="xdx_900_eoef--ShareholderReportAnnualOrSemiAnnual_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zZzmUgWjI515">annual shareholder report</span> contains important information about the Thornburg Premium Income Builder ETF for the period from June 22, 2026 to August 31, 2026. annual shareholder report You can find additional information about the Fund at <span id="xdx_90E_eoef--AddlInfoWebsite_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zNwKtWslFHXj">https://www.thornburg.com​/download</span>. You can also request this information by contacting us at <span id="xdx_901_eoef--AddlInfoPhoneNumber_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zmsiHao45VB4">1‑800-847‑0200</span>. https://www.thornburg.com​/download 1‑800-847‑0200 This report also describes changes to the Fund that occurred during the reporting period. <p id="xdx_801_eoef--FactorsAffectingPerfTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_z8bJnCsq7Bj8" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: -8pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How did the Fund perform during the period and what affected its performance?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 37.32px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund outperformed the MSCI World Net Total Return USD Index (the “Index”) during the period from the Fund’s inception on June 22, 2026 to August 31, 2026.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">Despite markets navigating shifts in inflation and monetary policy expectations, global growth remained resilient but uneven. Regional equity security performance exhibited wide dispersion and changing market leadership amid heightened geopolitical risk and currency volatility.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">The Fund’s sector allocations in energy and financials contributed positively to performance relative to the Index, while allocations to communication services and utilities detracted from relative performance. From a stock selection perspective, communication services and industrials were the leading contributors to performance relative to the Index, while energy and information technology were the primary detractors to relative performance.</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 74.64px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block">By geography, stock selections in the United States and the Netherlands were the strongest contributors to performance relative to the Index while selections in Italy and Canada were the leading detractors to relative performance. Allocation effects in the Netherlands and South Korea also contributed positively to performance relative to the Index, while allocations to the United Kingdom and the United States detracted from relative performance.</p> The returns shown in the line graph and table assume the reinvestment of dividends and capital gains, but do not reflect the deduction of taxes that a shareholder would pay on distributions or the redemption of Fund shares. The performance information shown below represents past performance and is no guarantee of future results. For Fund performance current to the most recent month end, visit <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter">https://www.thornburg.com​/product/etfs/eib/THOR/</span> or call <span style="box-sizing: border-box; font-weight: lighter">1‑800-847‑0200.</span> <p id="xdx_808_eoef--LineGraphTableTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_zQzAuklP5bJ2" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 6pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Cumulative Performance</p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; display: flex; justify-content: center"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: fit-content; table-layout: fixed; border-collapse: collapse; display: none"> <tr style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Date</div> </td> <td id="xdx_4B2_oef--ClassAxis_custom--C000275711Member_zF9woeg6eIyg" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">Thornburg Premium Income Builder ETF</div> </td> <td id="xdx_4B5_oef--BroadBasedIndexAxis_custom--MSCIWorldNetTotalReturnUSDIndexMember_zLPIoahOSfff" style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">MSCI World Net Total Return USD Index</div> </td> </tr> <tr id="xdx_430_c20260622__20260622_eoef--AccmVal_pid_zTn4SCI7qMr2" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/22/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10000.0</div> </td> </tr> <tr id="xdx_43D_c20260622__20260630_eoef--AccmVal_pid_zCVXHAyr1qRl" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">6/30/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">9992.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10009.97</div> </td> </tr> <tr id="xdx_430_c20260622__20260731_eoef--AccmVal_pid_zN3O3XhZbCu6" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">7/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10396.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10061.34</div> </td> </tr> <tr id="xdx_438_c20260622__20260831_eoef--AccmVal_pid_zNCgXulDoMhb" style="box-sizing: border-box"> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">8/31/2026</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10532.0</div> </td> <td style="box-sizing: border-box"> <div style="box-sizing: border-box; text-align-last: auto; font-weight: normal">10320.61</div> </td> </tr> </table> </div> </div><img alt="line" src="qes3egey1muzzskl5.jpg" style="box-sizing: border-box; width: 540pt; height: auto"/> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 8pt 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> 10000.0 10000.0 9992.0 10009.97 10396.0 10061.34 10532.0 10320.61 <p id="xdx_80B_eoef--ExpensesTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_zKApqXMuo8l" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What were the Fund costs since inception?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 3pt; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(based on a hypothetical $10,000 investment)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Name</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs of a $10,000 investment</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Costs paid as a percentage of a $10,000 investment</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold"><span id="xdx_90E_eoef--ClassName_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_z5PHaqP5ZQlj">Thornburg Premium Income Builder ETF</span></span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_982_eoef--ExpensesPaidAmt_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zMQIKbs3KoH2" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$16.00</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98D_eoef--ExpenseRatioPct_dp_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zNv2EmlPHh6j" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: center"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">0.79%</span> </div> </td> </tr> </table> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 2pt 0 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"> <p style="font: normal 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; min-height: 13.06px; align-content: center; line-height: 13.06px; box-sizing: border-box; color: #00103f; text-indent: 0; display: block"><span id="xdx_90B_eoef--ExpensesShortPeriodFnTextBlock_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zFRvqXvwP9b7">Fund costs may be higher for a full one-year period.</span></p> </div> </div> Thornburg Premium Income Builder ETF 16.00 0.0079 Fund costs may be higher for a full one-year period. <div id="xdx_80D_eoef--AvgAnnlRtrTableTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_z98Dg2pf4tX4" style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Annual Performance</span> </div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; line-height: normal"> <div style="font: 700 7pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Since Inception (<span id="xdx_907_eoef--PerfInceptionDate_dd_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zG8CiimcGlMe">06/22/2026</span>)</span> </div> </th> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Premium Income Builder ETF</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20260622__20260831__oef--ClassAxis__custom--C000275711Member_zeOHZMSjSvje" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">5.32%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">MSCI World Net Total Return USD Index</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20260622__20260831__oef--BroadBasedIndexAxis__custom--MSCIWorldNetTotalReturnUSDIndexMember_zlhOoU5V3ERl" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">3.21%</span> </div> </td> </tr> </table> </div> 2026-06-22 0.0532 0.0321 <p id="xdx_805_eoef--AddlFundStatisticsTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_zn3GljB9Mut6" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 12pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Key Fund Statistics</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="box-sizing: border-box; font-size: 7pt"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; line-height: normal"> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Fund Size (Millions)</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$<span id="xdx_90A_eus-gaap--AssetsNet_iI_pn5n6_c20260831__oef--ClassAxis__custom--C000275711Member_zhlPpXY7mZc">23.7</span>M</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Number of Holdings</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_98F_eoef--HoldingsCount_iI_uHoldings_c20260831__oef--ClassAxis__custom--C000275711Member_zeWGCwYtXUBb" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">58</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Portfolio Turnover</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_986_eus-gaap--InvestmentCompanyPortfolioTurnover_dp_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zDIAh59ijAQ4" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">2.43%</span> </div> </td> </tr> <tr style="box-sizing: border-box; height: auto; line-height: normal"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: left"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: bold">Total Advisory Fee</span> </div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; line-height: normal"> <div id="xdx_980_eoef--AdvisoryFeesPaidAmt_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_znqsLytljmP" style="font: 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0; text-align: right"><span style="box-sizing: border-box; display: inline-block; min-height: 1px; min-width: 1px; font-weight: normal">$23,955</span> </div> </td> </tr> </table> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 2pt 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> 23700000 58 0.0243 23955 <div id="xdx_802_eoef--HoldingsTableTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_zTcqY7yP8yPf" style="box-sizing: border-box; text-align-last: auto; position: relative"> <p style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">What did the Fund invest in?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0"><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">(as of </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box"><span style="box-sizing: border-box; font-weight: normal">August 31, 2026</span> </span><span style="font: 300 7pt/1.14 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box">)</span> </p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: -3pt 0 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> <table style="margin: 0; padding: 0; box-sizing: border-box; width: 100%; table-layout: fixed; border-collapse: collapse; display: table; border-collapse: collapse; table-layout: auto"> <tr style="box-sizing: border-box; height: auto"> <th colspan="2" style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: left; padding-left: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Market Capitalization Exposure</div> </th> <th style="border-bottom: #000 0.75pt solid; box-sizing: border-box; text-align: right; padding-right: 5px"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">(%)</div> </th> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #dbdce2"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Small Cap (&lt;$2.5 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_985_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000275711Member__us-gaap--InvestmentTypeAxis__custom--SmallCap25BMember_ziYf8ZcprhXi" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">1.9</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #33385b"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Mid Cap ($2.5-12 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_989_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000275711Member__us-gaap--InvestmentTypeAxis__custom--MidCap2512BMember_zxifMDXqWcTg" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">2.4</div> </td> </tr> <tr style="box-sizing: border-box; height: auto"> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; width: 30px"> <div style="margin: auto; box-sizing: border-box; text-align-last: auto; width: 5px; height: 5px; background-color: #b7b9c5"></div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt"> <div style="font: 700 8pt HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">Large Cap (&gt;$12 B)</div> </td> <td style="border-bottom: #00103f 0.75pt solid; box-sizing: border-box; padding-top: 3.75pt; padding-bottom: 1pt; text-align: right; padding-right: 5px"> <div id="xdx_98C_eoef--PctOfNav_iI_dp_c20260831__oef--ClassAxis__custom--C000275711Member__us-gaap--InvestmentTypeAxis__custom--LargeCap12BMember_ztBOFynYYPK9" style="font: normal 8pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0">95.8</div> </td> </tr> </table> </div> </div> </div> </div> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> <p style="font: normal 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; text-align-last: auto; display: block; min-height: 13.06px; align-content: center; line-height: 13.06px; box-sizing: border-box; color: #00103f; text-indent: 0">Expressed as a percentage of the Fund’s net assets.</p> </div> <div style="grid-column: 2 / 3; grid-row: 3 / 4; text-align-last: auto; width: 270pt; height: auto; box-sizing: border-box; min-width: 0; overflow-wrap: break-word"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="box-sizing: border-box; text-align-last: auto; padding-top: 0"> <div style="box-sizing: border-box; text-align-last: auto"> </div> </div><img alt="doughnut" src="qes4dqejw1mulp4teh.jpg" style="box-sizing: border-box; width: 100%; height: auto"/> </div> </div> </div> </div> </div> <div style="box-sizing: border-box; text-align-last: auto; position: relative"> <div style="box-sizing: border-box; text-align-last: auto"> <div style="font: 7pt HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; color: #00103f; text-indent: 0"><span style="box-sizing: border-box; display: block"></span> </div> </div> <p style="font: 7pt/1.4 HelveticaNeueLTStd-Roman,Helvetica,sans-serif,Arial; margin: 0 0 2pt; box-sizing: border-box; text-align-last: auto; display: block; color: #00103f; text-indent: 0"> </p> </div> 0.019 0.024 0.958 <p id="xdx_80E_eoef--MaterialFundChngTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_zYzo0yCyv27f" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">How has the Fund changed?</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 55.98px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0; text-align: left">This is a summary of certain changes to the Fund since <span style="box-sizing: border-box; font-weight: lighter">June 22, 2026</span>. For more complete information, you may review the Fund’s next prospectus, which we expect to be available by <span style="box-sizing: border-box; font-weight: lighter">December 30, 2026</span> at <span style="margin: 0; padding: 0; text-decoration: none; box-sizing: border-box; color: inherit; cursor: pointer; font-weight: lighter"><span id="xdx_903_eoef--UpdProspectusWebAddress_dd_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_z4JdzInnuebc">https://www.thornburg.com​/download</span></span> or upon request by calling <span style="box-sizing: border-box; font-weight: lighter"><span id="xdx_90B_eoef--UpdProspectusPhoneNumber_dd_c20250901__20260831__oef--ClassAxis__custom--C000275711Member_zxaC6Xio7rGi">1‑800-847‑0200</span></span>.</p> https://www.thornburg.com​/download 1‑800-847‑0200 <p id="xdx_806_eoef--AccountantChngDisagreementsTextBlock_hoef--ClassAxis__custom--C000275711Member_dD_zFIEaIYj1qAf" style="font: 700 11pt/1.4 HelveticaNeueLTStd-Bd,Helvetica,sans-serif,Arial; margin: 4pt 0 0; text-align-last: auto; display: block; min-height: 20.52px; align-content: center; line-height: 20.53px; box-sizing: border-box; color: #00103f; text-indent: 0">Changes In and Disagreements with Accountants</p> <p style="font: normal 300 10pt/1.4 HelveticaNeueLTStd-Lt,Helvetica,sans-serif,Arial; margin: 0; text-align-last: auto; display: block; min-height: 18.66px; align-content: center; line-height: 18.66px; box-sizing: border-box; color: #00103f; text-indent: 0">No changes and/or disagreements occurred in the current reporting period.</p> Credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Services, both of which are independent, nationally recognized statistical rating organizations. If a credit rating for an investment is not available from either S&P or Moody’s, then the Fund’s investment advisor will determine the credit quality of the investment. Investments are considered to be investment grade if they are rated within the four highest grades by S&P or Moody’s (BBB/Baa or higher) or, if no credit rating is available, have been judged to be of comparable quality by the Fund’s investment advisor. (NR = Not Rated) Credit quality ratings shown above reflect the highest rating assigned by either S&P Global Ratings or Moody’s Investors Services, both of which are independent, nationally recognized statistical rating organizations. If a credit rating for an investment is not available from either S&P or Moody’s, then the Fund’s investment advisor will determine the credit quality of the investment. Investments are considered to be investment grade if they are rated within the four highest grades by S&P or Moody’s (BBB/Baa or higher) or, if no credit rating is available, have been judged to be of comparable quality by the Fund’s investment advisor. (NR = Not Rated)