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N-1A
NASDAQ
NYSEArca
NASDAQ
NASDAQ
NASDAQ
NYSEArca
N-CSR
BNY Mellon ETF Trust II
2026-08-31
BNY Mellon Enhanced Dividend and Income ETF
BNY Mellon Enhanced Dividend and Income ETF
BEDY
This annual shareholder report contains important information about BNY Mellon Enhanced Dividend and Income ETF (the “Fund”) for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the Fund at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 7.5pt; word-break: break-all; white-space: nowrap; font-weight: 400; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span>.</span> You can also request this information by calling 1-833-383-2696 or calling your financial adviser.
bny.com/investments/etfliterature
1-833-383-2696
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;"><b>This report describes changes to the Fund that occurred during the reporting period.</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 2pt;"><b>What were the Fund’s costs for the last </b> <b>year</b> <b>?</b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">(based on a hypothetical $10,000 investment)</div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(0, 72, 94); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: left; width: 25%; padding: 1pt 3pt 10pt 3pt;">Fund</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 30%; padding: 1pt 3pt 10pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 40%; padding: 1pt 3pt 10pt 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; text-indent: -6pt; padding: 1pt 3pt 3pt 6pt;">BNY Mellon Enhanced Dividend and Income <span style="white-space: nowrap;">ETF<sup style="vertical-align: super; font-size: 5pt;">*</sup></span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;"><span style="float: none;">$</span>79</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">0.71<span>%</span></td>
</tr>
</table>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-bottom: 22pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 0; font-style: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 5pt; line-height: normal; width: 10pt; text-align: left; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 0; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; font-style: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; line-height: normal; font-style: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Predecessor Fund’s investment adviser, BNY Mellon Investment Adviser, Inc.</div>
</td>
</tr>
</table>
79
0.0071
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 9pt; margin-left: 18pt;">
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How did the Fund perform last </b> <b>year</b> <b>?</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">For the 12-month<span style="white-space: nowrap;"> </span>period ended August 31, 2026, the Fund’s shares returned 23.15% on a net asset value basis and 23.40% on a market price basis.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In comparison, the Russell 1000<sup style="vertical-align: top; font-size: initial;">®</sup> Value Index (the “Index”) returned 29.72% for the same period.</div>
</li>
</ul>
</div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>What affected the Fund’s performance?</b></div>
</div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">U.S. markets moved higher over the period as stronger corporate earnings and Artificial Intelligence (AI) spending overcame concerns about renewed conflict in the Middle East, rising inflation and global interest rates.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The strongest contributors to the Fund’s performance relative to the Index included stock selection in communication services and energy, and sector positioning in consumer discretionary.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">The most significant detractors included stock selection and sector positioning in information technology, materials and financials, including not owning the high-growth AI names in the Index.</div>
</li>
</ul>
</div>
<div style="margin-top: 0px; font-family: 'times new roman'; font-weight: bold; font-size: 10pt; line-height: 12pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 0px;"><b> <i>How did the Fund perform over the past 10 years?</i> </b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 10pt; line-height: 11pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 6pt;"><b>The Fund’s past performance is not a good predictor of the Fund’s future performance.</b> The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</div>
<div style="margin-top: 0px; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none;"><b>Cumulative Performance from </b> <b>September 1</b> <b>, </b> <b>2016</b> <b> through </b> <b>August 31, 2026</b> <b> </b> <br/><b>Initial Investment of $10,000</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_12416838.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 396pt;"/> </div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 6.5pt;">The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each of the Russell 1000<sup style="vertical-align: top; font-size: initial;">®</sup> Index (a broad-based index), Russell 1000<sup style="vertical-align: top; font-size: initial;">®</sup> Value Index and Dow Jones U.S. Select Dividend™ Index on 8/31/2016. The performance shown takes into account applicable fees and expenses of the Fund, including management fees,<span style="white-space: nowrap;"> </span>12b-1<span style="white-space: nowrap;"> </span>fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to fees and other expenses. Investors cannot invest directly in any index.</div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-bottom: 30pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective December 8, 2025, the Russell 1000<sup style="vertical-align: super; font-size: 5pt;">®</sup> Value Index was added as the Fund’s performance benchmark.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">The Dow Jones US Select Dividend Index was the performance benchmark of BNY Mellon Income Stock Fund, the Predecessor Fund. Performance of the index will not be shown in the future.</div>
</td>
</tr>
</table>
The Fund’s past performance is not a good predictor of the Fund’s future performance.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>AVERAGE ANNUAL TOTAL RETURNS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(0, 72, 94); height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; width: 60%; padding: 1pt 3pt 10pt 3pt;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">1YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">5YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">10YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">BNY Mellon Enhanced Dividend and Income ETF - NAV Return</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">23.15<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">14.21<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">12.96<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Russell 1000<sup style="vertical-align: super; font-size: 5pt;">®</sup> Index (broad-based index)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">19.77<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">12.10<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">15.13<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Russell 1000<sup style="vertical-align: super; font-size: 5pt;">®</sup> Value Index<sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">29.72<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">11.84<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">11.76<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Dow Jones U.S. Select Dividend™ Index<sup style="vertical-align: super; font-size: 5pt;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">19.19<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">10.80<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">10.87<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
</table>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-bottom: 30pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective December 8, 2025, the Russell 1000<sup style="vertical-align: super; font-size: 5pt;">®</sup> Value Index was added as the Fund’s performance benchmark.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">The Dow Jones US Select Dividend Index was the performance benchmark of BNY Mellon Income Stock Fund, the Predecessor Fund. Performance of the index will not be shown in the future.</div>
</td>
</tr>
</table>
BNY Mellon Enhanced Dividend and Income ETF - NAV Return
0.2315
0.1421
0.1296
Russell 1000® Index (broad-based index)
0.1977
0.1210
0.1513
Russell 1000® Value Index
0.2972
0.1184
0.1176
Dow Jones U.S. Select Dividend™ Index
0.1919
0.1080
0.1087
2025-12-05
For more current information visitbny.com/investments/etfliterature.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>KEY FUND STATISTICS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(0, 72, 94); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Fund Size (Millions)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Number of Holdings</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;">Total Advisory Fee Paid During<br/>Period</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Annual Portfolio Turnover</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>243</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">59</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>818,671</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">134.24<span>%</span></td>
</tr>
</table>
243000000
59
818671
1.3424
<div style="margin-top: 0px; text-transform: uppercase; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px;"><b>Portfolio Holdings (as of </b> <b>8/31/26</b> <b>)</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Top Ten Holdings (Based on Net Assets)</b> <b> <sup style="vertical-align: super; font-size: smaller;">*</sup> </b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 12pt; margin-left: 18pt;"><img alt="Graphical Representation - Top N Holdings Chart" src="chartimages_12416849.jpg" style="margin-left: 50pt; width: 482pt;"/> </div>
<div style="font-weight: 400; font-family: 'times new roman'; font-size: 9pt; line-height: 10pt; color: rgb(0, 0, 0); margin-top: -4pt; margin-bottom: 0px;">* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.</div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Sector Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 6pt; margin-left: 18pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_12416856.jpg" style="margin-left: 29pt; width: 437pt;"/> </div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Top Ten Holdings (Based on Net Assets)</b> <b> <sup style="vertical-align: super; font-size: smaller;">*</sup> </b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 12pt; margin-left: 18pt;"><img alt="Graphical Representation - Top N Holdings Chart" src="chartimages_12416849.jpg" style="margin-left: 50pt; width: 482pt;"/> </div>
<div style="font-weight: 400; font-family: 'times new roman'; font-size: 9pt; line-height: 10pt; color: rgb(0, 0, 0); margin-top: -4pt; margin-bottom: 0px;">* Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.</div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How has the Fund changed?</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">On December 5, 2025, BNY Mellon Income Stock Fund (“Predecessor Fund”), a series of BNY Mellon Funds Trust, was reorganized into the Fund (“Reorganization”). The Fund commenced operations upon completion of the Reorganization and continues the operations of the Predecessor Fund. Prior to the Reorganization, the Predecessor Fund’s Class A, Class C, Class I, Class Y, and Investor shares redesignated into Class M shares. In addition, the Predecessor Fund’s Class M shares effected a reverse share split to approximate the net asset value per share of the Fund prior to the Reorganization. Prior to the Reorganization, the Predecessor Fund discontinued the imposition of distribution fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .75% of the value of Class C shares based on average daily net assets. The Predecessor Fund also discontinued the imposition of shareholder services fees, which had previously been paid to the Distributor at an annual rate of .25% of the value of each of the Predecessor Fund’s Investor, Class A and Class C shares based on average daily net assets. At the time of the Reorganization, the expense limitation agreement with the Predecessor Fund’s investment adviser was discontinued.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 5, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
Prior to the Reorganization, the Predecessor Fund discontinued the imposition of distribution fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .75% of the value of Class C shares based on average daily net assets. The Predecessor Fund also discontinued the imposition of shareholder services fees, which had previously been paid to the Distributor at an annual rate of .25% of the value of each of the Predecessor Fund’s Investor, Class A and Class C shares based on average daily net assets.
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>Changes in or Disagreements with Accountants</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Starting December 5, 2025, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II. There were no disagreements with the former accounting firm during the Predecessor Fund’s fiscal years ended August 31, 2025 and August 31, 2024 and the subsequent interim period through December 5, 2025.</div>
</li>
</ul>
</div>
Starting December 5, 2025, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II.
2025-12-05
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 5, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
bny.com/investments/etfliterature
1-833-383-2696
BNY Mellon Core Plus ETF
BNY Mellon Core Plus ETF
BCPL
This annual shareholder report contains important information about BNY Mellon Core Plus ETF (the “Fund”) for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the Fund at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 7.5pt; word-break: break-all; white-space: nowrap; font-weight: 400; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span>.</span> You can also request this information by calling 1-833-383-2696 or calling your financial adviser.
bny.com/investments/etfliterature
1-833-383-2696
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;"><b>This report describes changes to the Fund that occurred during the reporting period.</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 2pt;"><b>What were the Fund’s costs for the last </b> <b>year</b> <b>?</b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">(based on a hypothetical $10,000 investment)</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 30%; padding: 1pt 3pt 10pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 40%; padding: 1pt 3pt 10pt 3pt;">Costs paid as a percentage of a $10,000 investment</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;"><span style="float: none;">$</span>53</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">0.52<span>%</span></td>
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53
0.0052
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<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How did the Fund perform last </b> <b>year</b> <b>?</b></div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">For the 12-month<span style="white-space: nowrap;"> </span>period ended August 31, 2026, the Fund’s shares returned 2.16% on a net asset value basis and 2.36% on a market price basis.</div>
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<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In comparison, the Bloomberg U.S. Aggregate Bond Index returned 1.89% for the same period.</div>
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<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>What affected the Fund’s performance?</b></div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Despite higher interest rates, bond markets delivered positive total returns. Risk assets also performed well, supported by a strong labor market and a favorable domestic economic outlook.</div>
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<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The strongest contributors to the Fund’s relative performance came from overweight allocations to high yield corporate and emerging market debt.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Security selection in the municipal, sovereign utility and financial hybrid sectors, along with certain non-U.S. interest rate positions, also contributed meaningfully to relative performance.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Interest rate positioning was a headwind throughout the reporting period, as inflation failed to moderate meaningfully, and front-end interest rates remained stubbornly high.</div>
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<div style="margin-top: 0px; font-family: 'times new roman'; font-weight: bold; font-size: 10pt; line-height: 12pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 0px;"><b> <i>How did the Fund perform over the past 10 years?</i> </b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 10pt; line-height: 11pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 6pt;"><b>The Fund’s past performance is not a good predictor of the Fund’s future performance.</b> The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</div>
<div style="margin-top: 0px; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none;"><b>Cumulative Performance from </b> <b>September 1</b> <b>, </b> <b>2016</b> <b> through </b> <b>August 31, 2026</b> <b> </b> <br/><b>Initial Investment of $10,000</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_12417195.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 396pt;"/> </div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 6.5pt;">The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Aggregate Bond Index (a broad-based index) and Bloomberg U.S. Intermediate Credit Index on 8/31/2016. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to fees and other expenses. Investors cannot invest directly in any index.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on NYSE Arca, Inc., the Fund will no longer use the Bloomberg U.S. Intermediate Credit Index as a performance-based benchmark. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg U.S. Aggregate Bond Index is a more appropriate performance comparison given the Fund’s investment strategy and Insight North America LLC’s investment process. Performance of the index will not be shown in the future.</div>
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The Fund’s past performance is not a good predictor of the Fund’s future performance.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>AVERAGE ANNUAL TOTAL RETURNS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">1YR</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">5YR</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">10YR</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">BNY Mellon Core Plus ETF - NAV Return</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.16<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.58<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">3.19<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index (broad-based index)</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.89<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">-0.29<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.40<span>%</span></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Intermediate Credit Index <sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.36<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.61<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.61<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on NYSE Arca, Inc., the Fund will no longer use the Bloomberg U.S. Intermediate Credit Index as a performance-based benchmark. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg U.S. Aggregate Bond Index is a more appropriate performance comparison given the Fund’s investment strategy and Insight North America LLC’s investment process. Performance of the index will not be shown in the future.</div>
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BNY Mellon Core Plus ETF - NAV Return
0.0216
0.0158
0.0319
Bloomberg U.S. Aggregate Bond Index (broad-based index)
0.0189
-0.0029
0.0140
Bloomberg U.S. Intermediate Credit Index
0.0236
0.0161
0.0261
Effective January 12, 2026, the date shares of the Fund began trading on NYSE Arca, Inc., the Fund will no longer use the Bloomberg U.S. Intermediate Credit Index as a performance-based benchmark. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg U.S. Aggregate Bond Index is a more appropriate performance comparison given the Fund’s investment strategy and Insight North America LLC’s investment process. Performance of the index will not be shown in the future.
2026-01-09
For more current information visitbny.com/investments/etfliterature.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>KEY FUND STATISTICS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Fund Size (Millions)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Number of Holdings</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;">Total Advisory Fee Paid During<br/>Period</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Annual Portfolio Turnover</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>309</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">364</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>1,409,990</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">190.66<span>%</span></td>
</tr>
</table>
309000000
364
1409990
1.9066
<div style="margin-top: 0px; text-transform: uppercase; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px;"><b>Portfolio Holdings (as of </b> <b>8/31/26</b> <b>)</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Sector Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 12pt; margin-left: 18pt;"><img alt="Graphical Representation - Top N Holdings Chart" src="chartimages_12417206.jpg" style="margin-left: 50pt; width: 437pt;"/> </div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Allocation of Holdings (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 6pt; margin-left: 18pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_12417213.jpg" style="margin-left: 29pt; width: 437pt;"/> </div>
<div style="font-weight: 400; margin-top: 0px; margin-bottom: 10pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: normal; margin-left: 18pt;">* Amount represents less than .1%.</div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How has the Fund changed?</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">On January 9, 2026, BNY Mellon Corporate Bond Fund (“Predecessor Fund”), a series of BNY Mellon Funds Trust, was reorganized into the Fund (“Reorganization”). The Fund commenced operations upon completion of the Reorganization and continues the operations of the Predecessor Fund. Prior to the Reorganization, the Predecessor Fund’s Investor Shares redesignated into Class M shares. In addition, the Predecessor Fund’s Class M shares effected a reverse share split to approximate the net asset value per share of the Fund prior to the Reorganization. Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In addition, effective October 1, 2025, BNY Mellon Investment Adviser, Inc., the Predecessor Fund’s investment adviser, engaged its affiliate, Insight North America LLC (“INA”), to serve as the sub-adviser to the Predecessor Fund.</div>
</li>
</ul>
</div><div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>Changes in or Disagreements with Accountants</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II. There were no disagreements with the former accounting firm during the Predecessor Fund’s fiscal years ended August 31, 2025 and August 31, 2024 and the subsequent interim period through January 9, 2026.</div>
</li>
</ul>
</div>
Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II.
2026-01-09
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
bny.com/investments/etfliterature
1-833-383-2696
BNY Mellon Active Core Bond ETF
BNY Mellon Active Core Bond ETF
BKFI
This annual shareholder report contains important information about BNY Mellon Active Core Bond ETF (the “Fund”) for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the Fund at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 7.5pt; word-break: break-all; white-space: nowrap; font-weight: 400; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span>.</span> You can also request this information by calling 1-833-383-2696 or calling your financial adviser.
bny.com/investments/etfliterature
1-833-383-2696
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;"><b>This report describes changes to the Fund that occurred during the reporting period.</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 2pt;"><b>What were the Fund’s costs for the last </b> <b>year</b> <b>?</b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">(based on a hypothetical $10,000 investment)</div>
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<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(0, 72, 94); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: left; width: 25%; padding: 1pt 3pt 10pt 3pt;">Fund</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 30%; padding: 1pt 3pt 10pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 40%; padding: 1pt 3pt 10pt 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; text-indent: -6pt; padding: 1pt 3pt 3pt 6pt;">BNY Mellon Active Core Bond ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;"><span style="float: none;">$</span>53</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">0.53<span>%</span></td>
</tr>
</table>
53
0.0053
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How did the Fund perform last </b> <b>year</b> <b>?</b></div>
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<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">For the 12-month<span style="white-space: nowrap;"> </span>period ended August 31, 2026, the Fund’s shares returned 0.99% on a net asset value basis and 0.78% on a market price basis.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In comparison, the Bloomberg U.S. Aggregate Bond Index (the “Index”) returned 1.89% for the same period.</div>
</li>
</ul>
</div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>What affected the Fund’s performance?</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Despite higher interest rates, bond markets delivered positive total returns. Risk assets also performed well, supported by a strong labor market and a favorable domestic economic outlook.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The strongest contributors to the Fund’s performance relative to the Index included overweight allocations to corporate bonds, emerging markets, asset-backed securities and non-agency mortgage-backed securities.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Within the corporate bond sector, overweight positions in high yield, banks, utilities and finance companies were beneficial, as was security selection favoring non-traditional asset-backed securities sectors and collateralized loan obligations.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Interest rate positioning detracted from relative performance throughout the period, as inflation failed to moderate meaningfully and front-end interest rates remained stubbornly high.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Overweight exposure to agency mortgage-backed securities and underweight exposure to commercial mortgage-backed securities also detracted, as did security selection within taxable municipals.</div>
</li>
</ul>
</div>
<div style="margin-top: 0px; font-family: 'times new roman'; font-weight: bold; font-size: 10pt; line-height: 12pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 0px;"><b> <i>How did the Fund perform over the past 10 years?</i> </b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 10pt; line-height: 11pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 6pt;"><b>The Fund’s past performance is not a good predictor of the Fund’s future performance.</b> The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</div>
<div style="margin-top: 0px; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none;"><b>Cumulative Performance from </b> <b>September 1</b> <b>, </b> <b>2016</b> <b> through </b> <b>August 31, 2026</b> <b> </b> <br/><b>Initial Investment of $10,000</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_12417348.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 396pt;"/> </div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 6.5pt;">The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Aggregate Bond Index (a broad-based index),<span style="white-space: nowrap;"> </span>Bloomberg U.S. Government/Credit Bond Index <span style="white-space: nowrap;"> </span>(a<span style="white-space: nowrap;"> </span>broad-based<span style="white-space: nowrap;"> </span>index)<span style="white-space: nowrap;"> </span>and<span style="white-space: nowrap;"> </span>Bloomberg U.S. Intermediate Government/Credit Index on 8/31/2016. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to fees and other expenses. Investors cannot invest directly in any index.</div>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on NYSE Arca, Inc., the Fund’s broad-based benchmark will be the Bloomberg U.S. Aggregate Bond Index. Additionally, effective January 12, 2026, the Fund will no longer use the Bloomberg U.S. Intermediate Government/Credit Index as a performance-based benchmark. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg U.S. Aggregate Bond Index is a more appropriate performance comparison given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
</td>
</tr>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the indices will not be shown in the future.</div>
</td>
</tr>
</table>
The Fund’s past performance is not a good predictor of the Fund’s future performance.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>AVERAGE ANNUAL TOTAL RETURNS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; width: 60%; padding: 1pt 3pt 10pt 3pt;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">1YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">5YR</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">10YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">BNY Mellon Active Core Bond ETF - NAV Return</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.99<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.13<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.78<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Aggregate Bond Index (broad-based <span style="white-space: nowrap;">index)</span><sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.89<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">-0.29<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.40<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Government/Credit Bond Index (broad‑based index)<sup style="vertical-align: super; font-size: 5pt; white-space: nowrap;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.51<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">-0.51<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.44<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Intermediate Government/Credit <span style="white-space: nowrap;">Index</span><sup style="vertical-align: super; font-size: 5pt;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.80<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.05<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.90<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on NYSE Arca, Inc., the Fund’s broad-based benchmark will be the Bloomberg U.S. Aggregate Bond Index. Additionally, effective January 12, 2026, the Fund will no longer use the Bloomberg U.S. Intermediate Government/Credit Index as a performance-based benchmark. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg U.S. Aggregate Bond Index is a more appropriate performance comparison given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the indices will not be shown in the future.</div>
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</table>
BNY Mellon Active Core Bond ETF - NAV Return
0.0099
0.0113
0.0178
Bloomberg U.S. Aggregate Bond Index (broad-based index)
0.0189
-0.0029
0.0140
Bloomberg U.S. Government/Credit Bond Index (broad‑based index)
0.0151
-0.0051
0.0144
Bloomberg U.S. Intermediate Government/Credit Index
0.0180
0.0105
0.0190
2026-01-09
For more current information visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <span><b>.</b></span>
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>KEY FUND STATISTICS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Fund Size (Millions)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Number of Holdings</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;">Total Advisory Fee Paid During<br/>Period</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Annual Portfolio Turnover</td>
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<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>249</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">292</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>1,380,148</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">124.41<span>%</span></td>
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</table>
249000000
292
1380148
1.2441
<div style="margin-top: 0px; text-transform: uppercase; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px;"><b>Portfolio Holdings (as of </b> <b>8/31/26</b> <b>)</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Sector Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 12pt; margin-left: 18pt;"><img alt="Graphical Representation - Top N Holdings Chart" src="chartimages_12417359.jpg" style="margin-left: 50pt; width: 437pt;"/> </div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Allocation of Holdings (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 6pt; margin-left: 18pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_12417366.jpg" style="margin-left: 29pt; width: 437pt;"/> </div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 9pt; margin-left: 18pt;">
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<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How has the Fund changed?</b></div>
</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">On January 9, 2026, BNY Mellon Intermediate Bond Fund (“Predecessor Fund”), a series of BNY Mellon Funds Trust, was reorganized into the Fund (“Reorganization”). The Fund commenced operations upon completion of the Reorganization and continues the operations of the Predecessor Fund. Prior to the Reorganization, the Predecessor Fund’s Investor Shares redesignated into Class M shares. In addition, the Predecessor Fund’s Class M shares effected a reverse share split to approximate the net asset value per share of the Fund prior to the Reorganization. Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In addition, effective October 1, 2025, BNY Mellon Investment Adviser, Inc., the Predecessor Fund’s investment adviser, engaged its affiliate, Insight North America LLC (“INA”), to serve as the sub-adviser to the Predecessor Fund.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>Changes in or Disagreements with Accountants</b></div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II. There were no disagreements with the former accounting firm during the Predecessor Fund’s fiscal years ended August 31, 2025 and August 31, 2024 and the subsequent interim period through January 9, 2026.</div>
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Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II.
2026-01-09
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
bny.com/investments/etfliterature
1-833-383-2696
BNY Mellon Municipal Opportunities ETF
BNY Mellon Municipal Opportunities ETF
BMOP
This annual shareholder report contains important information about BNY Mellon Municipal Opportunities ETF (the “Fund”) for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the Fund at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 7.5pt; word-break: break-all; white-space: nowrap; font-weight: 400; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span>.</span> You can also request this information by calling 1-833-383-2696 or calling your financial adviser.
bny.com/investments/etfliterature
1-833-383-2696
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;"><b>This report describes changes to the Fund that occurred during the reporting period.</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 2pt;"><b>What were the Fund’s costs for the last </b> <b>year</b> <b>?</b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">(based on a hypothetical $10,000 investment)</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 30%; padding: 1pt 3pt 10pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 40%; padding: 1pt 3pt 10pt 3pt;">Costs paid as a percentage of a $10,000 investment</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; text-indent: -6pt; padding: 1pt 3pt 3pt 6pt;">BNY Mellon Municipal Opportunities <span style="white-space: nowrap;">ETF<sup style="vertical-align: super; font-size: 5pt;">*</sup></span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;"><span style="float: none;">$</span>65</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">0.63<span>%</span></td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 0; font-style: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 5pt; line-height: normal; width: 10pt; text-align: left; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 0; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; font-style: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; line-height: normal; font-style: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon ETF Investment Adviser, LLC. If this agreement is not extended in the future, expenses could be higher.</div>
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65
0.0063
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<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How did the Fund perform last </b> <b>year</b> <b>?</b></div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">For the 12-month<span style="white-space: nowrap;"> </span>period ended August 31, 2026, the Fund’s shares returned 5.29% on a net asset value basis and 5.42% on a market price basis.</div>
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<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In comparison, the Bloomberg U.S. Municipal Bond Index (the “Index”) returned 4.12% for the same period.</div>
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<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>What affected the Fund’s performance?</b></div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The municipal bond market generated a positive total return, the majority produced by yield, with modest price appreciation despite high volatility also supporting returns.</div>
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<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Relative to the Index, the Fund’s longer curve exposure was additive to performance.</div>
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<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The Fund also benefited from strong security selection and asset allocation due to greater credit exposure relative to the broader market.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">The most significant detractors included overweight exposure to education bonds, as well as certain tactical duration hedging activity.</div>
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<div style="margin-top: 0px; font-family: 'times new roman'; font-weight: bold; font-size: 10pt; line-height: 12pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 0px;"><b> <i>How did the Fund perform over the past 10 years?</i> </b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 10pt; line-height: 11pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 6pt;"><b>The Fund’s past performance is not a good predictor of the Fund’s future performance.</b> The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</div>
<div style="margin-top: 0px; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none;"><b>Cumulative Performance from </b> <b>September 1</b> <b>, </b> <b>2016</b> <b> through </b> <b>August 31, 2026</b> <b> </b> <br/><b>Initial Investment of $10,000</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_12417501.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 396pt;"/> </div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 6.5pt;">The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Municipal Bond Index (a broad-based index) and S&P Municipal Bond Index (a broad-based index) on 8/31/2016. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to fees and other expenses. Investors cannot invest directly in any index.</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark will be the Bloomberg U.S. Municipal Bond Index. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg index is a more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the index will not be shown in the future.</div>
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The Fund’s past performance is not a good predictor of the Fund’s future performance.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>AVERAGE ANNUAL TOTAL RETURNS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; width: 60%; padding: 1pt 3pt 10pt 3pt;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">1YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">5YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">10YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">BNY Mellon Municipal Opportunities ETF - NAV Return</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">5.29<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.77<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.45<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Municipal Bond Index (broad-based<span style="white-space: nowrap;"> index)</span><sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">4.12<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.54<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.91<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">S&P Municipal Bond Index (broad‑based index)<sup style="vertical-align: super; font-size: 5pt; white-space: nowrap;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">4.16<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.79<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.01<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
</table>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark will be the Bloomberg U.S. Municipal Bond Index. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg index is a more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
</td>
</tr>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the index will not be shown in the future.</div>
</td>
</tr>
</table>
BNY Mellon Municipal Opportunities ETF - NAV Return
0.0529
0.0077
0.0245
Bloomberg U.S. Municipal Bond Index (broad-based index)
0.0412
0.0054
0.0191
S&P Municipal Bond Index (broad‑based index)
0.0416
0.0079
0.0201
Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark will be the Bloomberg U.S. Municipal Bond Index. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg index is a more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.
2026-01-09
For more current information visit <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <span><b>.</b></span>
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>KEY FUND STATISTICS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Fund Size (Millions)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Number of Holdings</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;">Total Advisory Fee Paid During<br/>Period</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Annual Portfolio Turnover</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>1,749</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">669</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>9,082,884</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">31.68<span>%</span></td>
</tr>
</table>
1749000000
669
9082884
0.3168
<div style="margin-top: 0px; text-transform: uppercase; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px;"><b>Portfolio Holdings (as of </b> <b>8/31/26</b> <b>)</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Sector Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 12pt; margin-left: 18pt;"><img alt="Graphical Representation - Top N Holdings Chart" src="chartimages_12417512.jpg" style="margin-left: 50pt; width: 437pt;"/> </div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>State Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 6pt; margin-left: 18pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_12417519.jpg" style="margin-left: 29pt; width: 437pt;"/> </div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How has the Fund changed?</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">On January 9, 2026, BNY Mellon Municipal Opportunities Fund (“Predecessor Fund”), a series of BNY Mellon Funds Trust, was reorganized into the Fund (“Reorganization”). The Fund commenced operations upon completion of the Reorganization and continues the operations of the Predecessor Fund. Prior to the Reorganization, the Predecessor Fund’s Investor Shares redesignated into Class M shares. In addition, the Predecessor Fund’s Class M shares effected a reverse share split to approximate the net asset value per share of the Fund prior to the Reorganization. Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">In addition, effective October 1, 2025, BNY Mellon Investment Adviser, Inc., the Predecessor Fund’s investment adviser, engaged its affiliate, Insight North America LLC (“INA”), to serve as the sub-adviser to the Predecessor Fund.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Effective July 13, 2026, BNY Mellon ETF Investment Adviser, LLC, the Fund’s Adviser, has agreed to waive receipt of a portion of its management fee in the amount of 0.05% of the value of the Fund's average daily net assets until December 31, 2027.</div>
</li>
</ul>
</div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.Effective July 13, 2026, BNY Mellon ETF Investment Adviser, LLC, the Fund’s Adviser, has agreed to waive receipt of a portion of its management fee in the amount of 0.05% of the value of the Fund's average daily net assets until December 31, 2027.
2026-07-13
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>Changes in or Disagreements with Accountants</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II. There were no disagreements with the former accounting firm during the Predecessor Fund’s fiscal years ended August 31, 2025 and August 31, 2024 and the subsequent interim period through January 9, 2026.</div>
</li>
</ul>
</div>
Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II.
2026-01-09
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
bny.com/investments/etfliterature
1-833-383-2696
BNY Mellon Municipal Intermediate ETF
BNY Mellon Municipal Intermediate ETF
BKMI
This annual shareholder report contains important information about BNY Mellon Municipal Intermediate ETF (the “Fund”) for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the Fund at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 7.5pt; word-break: break-all; white-space: nowrap; font-weight: 400; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span>.</span> You can also request this information by calling 1-833-383-2696 or calling your financial adviser.
bny.com/investments/etfliterature
1-833-383-2696
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;"><b>This report describes changes to the Fund that occurred during the reporting period.</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 2pt;"><b>What were the Fund’s costs for the last </b> <b>year</b> <b>?</b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">(based on a hypothetical $10,000 investment)</div>
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<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(0, 72, 94); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: left; width: 25%; padding: 1pt 3pt 10pt 3pt;">Fund</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 30%; padding: 1pt 3pt 10pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 40%; padding: 1pt 3pt 10pt 3pt;">Costs paid as a percentage of a $10,000 investment</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; text-indent: -6pt; padding: 1pt 3pt 3pt 6pt;">BNY Mellon Municipal Intermediate ETF</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;"><span style="float: none;">$</span>44</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">0.43<span>%</span></td>
</tr>
</table>
44
0.0043
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 9pt; margin-left: 18pt;">
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How did the Fund perform last </b> <b>year</b> <b>?</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">For the 12-month<span style="white-space: nowrap;"> </span>period ended August 31, 2026, the Fund’s shares returned 2.90% on a net asset value basis and 2.86% on a market price basis.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In comparison, the Bloomberg Municipal 3-15 Years Blend Index (the “Index”) returned 2.72% for the same period.</div>
</li>
</ul>
</div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>What affected the Fund’s performance?</b></div>
</div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The municipal bond market generated a positive total return, primarily produced by yield, with modest price appreciation, despite high volatility, also supporting returns.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The strongest contributors to the Fund’s performance relative to the Index included longer intermediate curve exposure and relatively high credit exposure.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Overweight allocations to the education, tobacco and health care sectors were particular strengths.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">The most significant detractors from relative performance included the Fund’s exposure to water & sewer and special tax securities.</div>
</li>
</ul>
</div>
<div style="margin-top: 0px; font-family: 'times new roman'; font-weight: bold; font-size: 10pt; line-height: 12pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 0px;"><b> <i>How did the Fund perform over the past 10 years?</i> </b></div><div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 10pt; line-height: 11pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 6pt;"><b>The Fund’s past performance is not a good predictor of the Fund’s future performance.</b> The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</div><div style="margin-top: 0px; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none;"><b>Cumulative Performance from </b> <b>September 1</b> <b>, </b> <b>2016</b> <b> through </b> <b>August 31, 2026</b> <b> </b> <br/><b>Initial Investment of $10,000</b></div><div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_12417654.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 396pt;"/> </div><div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 6.5pt;">The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Municipal Bond Index (a broad-based index),<span style="white-space: nowrap;"> </span>S&P Municipal Bond Index<span style="white-space: nowrap;"> </span>(a<span style="white-space: nowrap;"> </span>broad-based<span style="white-space: nowrap;"> </span>index), Bloomberg Municipal 3-15 Years Blend Index<span style="white-space: nowrap;"> </span>and<span style="white-space: nowrap;"> </span>S&P Municipal Bond Investment Grade Intermediate Index on 8/31/2016. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to fees and other expenses. Investors cannot invest directly in any index.</div><table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-bottom: 30pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark and performance-based benchmark will be the Bloomberg U.S. Municipal Bond Index and Bloomberg Municipal 3-15 Years Blend Index, respectively. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg indexes are more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the indices will not be shown in the future.</div>
</td>
</tr>
</table>
The Fund’s past performance is not a good predictor of the Fund’s future performance.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>AVERAGE ANNUAL TOTAL RETURNS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(0, 72, 94); height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; width: 60%; padding: 1pt 3pt 10pt 3pt;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">1YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">5YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">10YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">BNY Mellon Municipal Intermediate ETF - NAV Return</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.90<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.74<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.81<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Municipal Bond Index (broad-based index)<sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">4.12<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.54<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.91<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">S&P Municipal Bond Index (broad‑based index)<sup style="vertical-align: super; font-size: 5pt; white-space: nowrap;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">4.16<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.79<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.01<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg Municipal 3-15 Years Blend Index<sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.72<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.81<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.94<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">S&P Municipal Bond Investment Grade Intermediate Index<sup style="vertical-align: super; font-size: 5pt;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.75<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.83<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.90<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
</table>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-bottom: 30pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark and performance-based benchmark will be the Bloomberg U.S. Municipal Bond Index and Bloomberg Municipal 3-15 Years Blend Index, respectively. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg indexes are more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the indices will not be shown in the future.</div>
</td>
</tr>
</table>
BNY Mellon Municipal Intermediate ETF - NAV Return
0.0290
0.0074
0.0181
Bloomberg U.S. Municipal Bond Index (broad-based index)
0.0412
0.0054
0.0191
S&P Municipal Bond Index (broad‑based index)
0.0416
0.0079
0.0201
Bloomberg Municipal 3-15 Years Blend Index
0.0272
0.0081
0.0194
S&P Municipal Bond Investment Grade Intermediate Index
0.0275
0.0083
0.0190
2026-01-09
For more current information visitbny.com/investments/etfliterature.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>KEY FUND STATISTICS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(0, 72, 94); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Fund Size (Millions)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Number of Holdings</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;">Total Advisory Fee Paid During<br/>Period</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Annual Portfolio Turnover</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>1,665</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">529</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>6,122,578</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">37.28<span>%</span></td>
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</table>
1665000000
529
6122578
0.3728
<div style="margin-top: 0px; text-transform: uppercase; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px;"><b>Portfolio Holdings (as of </b> <b>8/31/26</b> <b>)</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Sector Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 12pt; margin-left: 18pt;"><img alt="Graphical Representation - Top N Holdings Chart" src="chartimages_12417665.jpg" style="margin-left: 50pt; width: 437pt;"/> </div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>State Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 6pt; margin-left: 18pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_12417672.jpg" style="margin-left: 29pt; width: 437pt;"/> </div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How has the Fund changed?</b></div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">On January 9, 2026, BNY Mellon National Intermediate Municipal Bond Fund (“Predecessor Fund”), a series of BNY Mellon Funds Trust, was reorganized into the Fund (“Reorganization”). The Fund commenced operations upon completion of the Reorganization and continues the operations of the Predecessor Fund. Prior to the Reorganization, the Predecessor Fund’s Investor Shares redesignated into Class M shares. In addition, the Predecessor Fund’s Class M shares effected a reverse share split to approximate the net asset value per share of the Fund prior to the Reorganization. Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In addition, effective October 1, 2025, BNY Mellon Investment Adviser, Inc., the Predecessor Fund’s investment adviser, engaged its affiliate, Insight North America LLC (“INA”), to serve as the sub-adviser to the Predecessor Fund.</div>
</li>
</ul>
</div><div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>Changes in or Disagreements with Accountants</b></div>
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<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II. There were no disagreements with the former accounting firm during the Predecessor Fund’s fiscal years ended August 31, 2025 and August 31, 2024 and the subsequent interim period through January 9, 2026.</div>
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</ul>
</div>
Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II.
2026-01-09
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
bny.com/investments/etfliterature
1-833-383-2696
BNY Mellon Municipal Short Duration ETF
BNY Mellon Municipal Short Duration ETF
BKMS
This annual shareholder report contains important information about BNY Mellon Municipal Short Duration ETF (the “Fund”) for the period of September 1, 2025 to August 31, 2026.
annual shareholder report
You can find additional information about the Fund at <span style="white-space: nowrap;"><span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 7.5pt; word-break: break-all; white-space: nowrap; font-weight: 400; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span>.</span> You can also request this information by calling 1-833-383-2696 or calling your financial adviser.
bny.com/investments/etfliterature
1-833-383-2696
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;"><b>This report describes changes to the Fund that occurred during the reporting period.</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 2pt;"><b>What were the Fund’s costs for the last </b> <b>year</b> <b>?</b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">(based on a hypothetical $10,000 investment)</div>
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<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(0, 72, 94); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: left; width: 25%; padding: 1pt 3pt 10pt 3pt;">Fund</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 30%; padding: 1pt 3pt 10pt 3pt;">Costs of a $10,000 investment</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; text-align: center; width: 40%; padding: 1pt 3pt 10pt 3pt;">Costs paid as a percentage of a $10,000 investment</td>
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<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; text-indent: -6pt; padding: 1pt 3pt 3pt 6pt;">BNY Mellon Municipal Short Duration <span style="white-space: nowrap;">ETF<sup style="vertical-align: super; font-size: 5pt;">*</sup></span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;"><span style="float: none;">$</span>41</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; text-align: center; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">0.41<span>%</span></td>
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<tr style="break-inside: avoid-page; page-break-inside: avoid; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 0; font-style: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 5pt; line-height: normal; width: 10pt; text-align: left; vertical-align: super; padding: 0;">*</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; margin-bottom: 0; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; font-style: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; line-height: normal; font-style: normal; text-align: left; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon ETF Investment Adviser, LLC.</div>
</td>
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</table>
41
0.0041
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 9pt; margin-left: 18pt;">
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<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How did the Fund perform last </b> <b>year</b> <b>?</b></div>
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<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">For the 12-month<span style="white-space: nowrap;"> </span>period ended August 31, 2026, the Fund’s shares returned 2.14% on a net asset value basis and 2.18% on a market price basis.</div>
</li>
<li style="font-weight: 400; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt; padding-left: 3pt; margin-left: 7pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In comparison, the Bloomberg Municipal 1-3 Years Index (the “Index”) returned 2.13% for the same period.</div>
</li>
</ul>
</div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>What affected the Fund’s performance?</b></div>
</div>
<ul style="counter-reset: numberedlisting 0 letteringlisting 0 letteredhead 0 lcrmnhead 0 ucletteredhead 0 ucrmnhead 0; break-inside: avoid; padding: 0; margin: 0;">
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The municipal bond market generated a positive total return, primarily produced by yield, with modest price appreciation, despite high volatility, also supporting returns.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">The strongest contributors to the Fund’s performance relative to the Index included favorable curve exposure and relatively high credit exposure.</div>
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<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">Overweight allocations to the higher education, housing and health care sectors were particular strengths.</div>
</li>
<li style="font-weight: 400; padding-left: 3pt; margin-left: 7pt; list-style-type: disc; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">The most significant detractors from relative performance included the Fund’s exposure to water & sewer and special tax securities.</div>
</li>
</ul>
</div>
<div style="margin-top: 0px; font-family: 'times new roman'; font-weight: bold; font-size: 10pt; line-height: 12pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 0px;"><b> <i>How did the Fund perform over the past 10 years?</i> </b></div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 10pt; line-height: 11pt; color: rgb(0, 72, 94); padding-top: 5pt; padding-right: 3.5pt; padding-left: 3.5pt; margin-bottom: 6pt;"><b>The Fund’s past performance is not a good predictor of the Fund’s future performance.</b> The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.</div>
<div style="margin-top: 0px; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none;"><b>Cumulative Performance from </b> <b>September 1</b> <b>, </b> <b>2016</b> <b> through </b> <b>August 31, 2026</b> <b> </b> <br/><b>Initial Investment of $10,000</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); margin-bottom: 6pt;"><img alt="Fund Performance - Growth of 10K" src="chartimages_12417807.jpg" style="display: block; margin-right: auto; margin-left: auto; width: 396pt;"/> </div>
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 6.5pt;">The above graph compares a hypothetical $10,000 investment in the Fund’s shares to a hypothetical investment of $10,000 made in each of the Bloomberg U.S. Municipal Bond Index (a broad-based index),<span style="white-space: nowrap;"> </span>S&P Municipal Bond Index (a broad-based index), Bloomberg Municipal 1-3 Years Index<span style="white-space: nowrap;"> </span>and<span style="white-space: nowrap;"> </span>S&P Municipal Bond Investment Grade Short Index on 8/31/2016. The performance shown takes into account applicable fees and expenses of the Fund, including management fees and other expenses. The Fund’s performance also assumes the reinvestment of dividends and capital gains. Unlike the Fund, the indexes are not subject to fees and other expenses. Investors cannot invest directly in any index.</div>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark and performance-based benchmark will be the Bloomberg U.S. Municipal Bond Index and Bloomberg Municipal 1-3 Years Index, respectively. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg indexes are more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
</td>
</tr>
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<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the indices will not be shown in the future.</div>
</td>
</tr>
</table>
The Fund’s past performance is not a good predictor of the Fund’s future performance.
The graph and table do not reflect the deduction of taxes that a shareholder would pay on fund distributions or redemption of fund shares.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>AVERAGE ANNUAL TOTAL RETURNS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(0, 72, 94); height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; width: 60%; padding: 1pt 3pt 10pt 3pt;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">1YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">5YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: right; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 3pt;">10YR</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; width: auto; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); vertical-align: top; padding: 1pt 0 10pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">BNY Mellon Municipal Short Duration ETF - NAV Return</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.14<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.70<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.51<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg U.S. Municipal Bond Index (broad-based index)<sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">4.12<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.54<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.91<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">S&P Municipal Bond Index (broad‑based index)<sup style="vertical-align: super; font-size: 5pt; white-space: nowrap;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">4.16<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">0.79<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.01<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">Bloomberg Municipal 1-3 Years Index<sup style="vertical-align: super; font-size: 5pt;">*</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.13<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.62<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.65<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; background-color: rgb(227, 235, 237); height: 19pt; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 3pt 3pt 3pt;">S&P Municipal Bond Investment Grade Short Index<sup style="vertical-align: super; font-size: 5pt;">**</sup></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">2.23<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.75<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: right; white-space: nowrap; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; padding: 1pt 0 3pt 3pt;">1.66<span>%</span></td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; width: auto; font-family: 'Times New Roman'; color: rgb(0, 0, 0); font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: left; margin-bottom: 0; padding: 1pt 0 3pt 0;"></td>
</tr>
</table>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid; margin-bottom: 30pt;">
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">*</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark and performance-based benchmark will be the Bloomberg U.S. Municipal Bond Index and Bloomberg Municipal 1-3 Years Index, respectively. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg indexes are more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.</div>
</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; font-style: italic; font-size: 8pt; height: auto; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-weight: normal; font-family: 'Times New Roman'; color: rgb(0, 0, 0); width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-style: normal; color: rgb(0, 0, 0); margin-bottom: 0px; width: 10pt; font-size: 5pt; line-height: normal; text-align: left; vertical-align: super; padding: 0px;">**</div>
</td>
<td style="font-weight: 400; break-inside: avoid-page; page-break-inside: avoid; text-align: left; font-family: 'Times New Roman'; font-size: 9pt; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); padding: 0;">
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; font-size: 9pt; font-style: normal; line-height: normal; vertical-align: top; color: rgb(0, 0, 0); margin-bottom: 0px; padding: 0px;">Performance of the indices will not be shown in the future.</div>
</td>
</tr>
</table>
BNY Mellon Municipal Short Duration ETF - NAV Return
0.0214
0.0170
0.0151
Bloomberg U.S. Municipal Bond Index (broad-based index)
0.0412
0.0054
0.0191
S&P Municipal Bond Index (broad‑based index)
0.0416
0.0079
0.0201
Bloomberg Municipal 1-3 Years Index
0.0213
0.0162
0.0165
S&P Municipal Bond Investment Grade Short Index
0.0223
0.0175
0.0166
2026-01-09
For more current information visitbny.com/investments/etfliterature.
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-top: 0px; margin-bottom: 0px;"><b>KEY FUND STATISTICS (AS OF </b> <b>8/31/26</b> <b>)</b></div>
<table style="width: 100%; border-collapse: collapse; page-break-inside: avoid; break-inside: avoid;">
<tr style="break-after: avoid; break-inside: avoid-page; page-break-inside: avoid; height: auto; background-color: rgb(0, 72, 94); border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial;">
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Fund Size (Millions)</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Number of Holdings</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;">Total Advisory Fee Paid During<br/>Period</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; font-family: 'Times New Roman'; font-size: 9pt; line-height: 9pt; font-weight: bold; color: rgb(255, 255, 255); width: 170pt; vertical-align: top; text-align: center; padding: 1pt 3pt 10pt 3pt;"><br/>Annual Portfolio Turnover</td>
</tr>
<tr style="break-inside: avoid-page; page-break-inside: avoid; border-bottom-color: initial; border-bottom-style: none; border-bottom-width: initial; background-color: rgb(227, 235, 237); height: 19pt;">
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>429</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">253</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;"><span style="float: none;">$</span>1,384,491</td>
<td style="break-inside: avoid-page; page-break-inside: avoid; white-space: nowrap; width: 170pt; font-family: 'Times New Roman'; font-weight: normal; font-size: 9pt; line-height: 9pt; vertical-align: top; text-align: center; color: rgb(0, 0, 0); border-left-color: initial; border-left-style: none; border-left-width: initial; padding: 1pt 3pt 1pt 3pt;">42.96<span>%</span></td>
</tr>
</table>
429000000
253
1384491
0.4296
<div style="margin-top: 0px; text-transform: uppercase; margin-bottom: 3pt; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px;"><b>Portfolio Holdings (as of </b> <b>8/31/26</b> <b>)</b></div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>Sector Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 12pt; margin-left: 18pt;"><img alt="Graphical Representation - Top N Holdings Chart" src="chartimages_12417818.jpg" style="margin-left: 50pt; width: 437pt;"/> </div>
<div style="margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 9pt; font-weight: bold; letter-spacing: 0px; text-transform: none; margin-bottom: 0px; page-break-after: avoid;"><b>State Allocation (Based on Net Assets)</b></div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); width: 540pt; margin-bottom: 6pt; margin-left: 18pt;"><img alt="Graphical Representation - Allocation 1 Chart" src="chartimages_12417825.jpg" style="margin-left: 29pt; width: 437pt;"/> </div>
<div style="font-family: 'times new roman'; font-size: 9pt; font-weight: 400; color: rgb(0, 0, 0); break-inside: avoid;">
<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>How has the Fund changed?</b></div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 3pt;">On January 9, 2026, BNY Mellon National Short-Term Municipal Bond Fund (“Predecessor Fund”), a series of BNY Mellon Funds Trust, was reorganized into the Fund (“Reorganization”). The Fund commenced operations upon completion of the Reorganization and continues the operations of the Predecessor Fund. Prior to the Reorganization, the Predecessor Fund’s Investor Shares redesignated into Class M shares. In addition, the Predecessor Fund’s Class M shares effected a reverse share split to approximate the net asset value per share of the Fund prior to the Reorganization. Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets. At the time of the Reorganization, the expense limitation agreement with the Predecessor Fund’s investment adviser was discontinued.</div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">In addition, effective October 1, 2025, BNY Mellon Investment Adviser, Inc., the Predecessor Fund’s investment adviser, engaged its affiliate, Insight North America LLC (“INA”), to serve as the sub-adviser to the Predecessor Fund.</div>
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</div><div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
Prior to the Reorganization, the Predecessor Fund discontinued the imposition of shareholder services fees, which had previously been paid to BNY Mellon Securities Corporation, the Predecessor Fund’s distributor (“Distributor”), at an annual rate of .25% of the value of Investor class shares based on average daily net assets.
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<div style="font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 11pt; font-weight: bold; margin-bottom: 4pt; margin-top: 0px;"><b>Changes in or Disagreements with Accountants</b></div>
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<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 8pt;">Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II. There were no disagreements with the former accounting firm during the Predecessor Fund’s fiscal years ended August 31, 2025 and August 31, 2024 and the subsequent interim period through January 9, 2026.</div>
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Starting January 9, 2026, in connection with the Reorganization noted above, Ernst & Young LLP (“EY”) became the independent registered public accounting firm of the Fund and KPMG LLP was discharged as the Predecessor Fund’s accounting firm. EY serves as the independent registered public accounting firm for all funds in the BNY Mellon ETF Trust II.
2026-01-09
<div style="font-weight: 400; margin-top: 0px; font-family: 'times new roman'; color: rgb(0, 0, 0); font-size: 10pt; line-height: 11pt; margin-bottom: 10pt;"><b>This is a summary of certain changes to the Fund since </b> <b>September 1, 2025</b> <b>. For more complete information, you may review the Fund’s </b> <b>current prospectus dated </b> <b>December 31, 2025</b> <b> at </b> <span style="text-decoration-line: underline; color: rgb(0, 0, 0); line-height: 8.5pt; word-break: break-all; white-space: nowrap; font-weight: bold; font-family: 'times new roman'; font-size: 10pt;">bny.com/investments/etfliterature</span> <b>or upon request at 1-833-383-2696 or by calling your financial adviser.</b></div>
bny.com/investments/etfliterature
1-833-383-2696
Effective December 8, 2025, the Russell 1000® Value Index was added as the Fund’s performance benchmark.
Performance of the index will not be shown in the future.
Performance of the indices will not be shown in the future.
Performance of the indices will not be shown in the future.
Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark and performance-based benchmark will be the Bloomberg U.S. Municipal Bond Index and Bloomberg Municipal 3-15 Years Blend Index, respectively. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg indexes are more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.
Performance of the indices will not be shown in the future.
The Dow Jones US Select Dividend Index was the performance benchmark of BNY Mellon Income Stock Fund, the Predecessor Fund. Performance of the index will not be shown in the future.
Effective January 12, 2026, the date shares of the Fund began trading on NYSE Arca, Inc., the Fund will no longer use the Bloomberg U.S. Intermediate Credit Index as a performance-based benchmark. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg U.S. Aggregate Bond Index is a more appropriate performance comparison given the Fund’s investment strategy and Insight North America LLC’s investment process. Performance of the index will not be shown in the future.
Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark will be the Bloomberg U.S. Municipal Bond Index. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg index is a more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Predecessor Fund’s investment adviser, BNY Mellon Investment Adviser, Inc.
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon ETF Investment Adviser, LLC.
Effective January 12, 2026, the date shares of the Fund began trading on The Nasdaq Stock Market LLC, the Fund’s broad-based benchmark and performance-based benchmark will be the Bloomberg U.S. Municipal Bond Index and Bloomberg Municipal 1-3 Years Index, respectively. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg indexes are more appropriate comparisons given the Fund’s investment strategy and Insight North America LLC’s investment process.
Excludes money market funds or other short-term securities held for the investment of cash and cash collateral for securities loaned, if any.
Effective January 12, 2026, the date shares of the Fund began trading on NYSE Arca, Inc., the Fund’s broad-based benchmark will be the Bloomberg U.S. Aggregate Bond Index. Additionally, effective January 12, 2026, the Fund will no longer use the Bloomberg U.S. Intermediate Government/Credit Index as a performance-based benchmark. Insight North America LLC, the Fund’s sub-adviser, believes the Bloomberg U.S. Aggregate Bond Index is a more appropriate performance comparison given the Fund’s investment strategy and Insight North America LLC’s investment process.
During the period, fees were waived and/or expenses reimbursed pursuant to an agreement with the Fund’s investment adviser, BNY Mellon ETF Investment Adviser, LLC. If this agreement is not extended in the future, expenses could be higher.
Amount represents less than .1%.