BondBloxx^SM ETF Trust
Semi-Annual Report

April 30, 2023

BondBloxx USD High Yield Bond Industrial Sector ETF | XHYI | NYSE Arca

BondBloxx USD High Yield Bond Telecom, Media & Technology Sector ETF | XHYT | NYSE Arca

BondBloxx USD High Yield Bond Healthcare Sector ETF | XHYH | NYSE Arca

BondBloxx USD High Yield Bond Financial & REIT Sector ETF | XHYF | NYSE Arca

BondBloxx USD High Yield Bond Energy Sector ETF | XHYE | NYSE Arca

BondBloxx USD High Yield Bond Consumer Cyclicals Sector ETF | XHYC | NYSE Arca

BondBloxx USD High Yield Bond Consumer Non-Cyclicals Sector ETF | XHYD | NYSE Arca

BondBloxx B Rated USD High Yield Corporate Bond ETF | XB | NYSE Arca

BondBloxx BB Rated USD High Yield Corporate Bond ETF | XBB | NYSE Arca

BondBloxx CCC Rated USD High Yield Corporate Bond ETF | XCCC | NYSE Arca

BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF | XEMD | Cboe BZX

BondBloxx Bloomberg Six Month Target Duration US Treasury ETF | XHLF | NYSE Arca

BondBloxx Bloomberg One Year Target Duration US Treasury ETF | XONE | NYSE Arca

BondBloxx Bloomberg Two Year Target Duration US Treasury ETF | XTWO | NYSE Arca

BondBloxx Bloomberg Three Year Target Duration US Treasury ETF | XTRE | NYSE Arca

BondBloxx Bloomberg Five Year Target Duration US Treasury ETF | XFIV | NYSE Arca

BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF | XSVN | NYSE Arca

BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF | XTEN | NYSE Arca

BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF | XTWY | NYSE Arca

BondBloxx Investment Management Corporation | bondbloxxetf.com | 800.896.5089

Table of Contents

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Industrial Sector ETF Growth
Fund Performance Overview (Unaudited)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx USD High Yield Bond Industrial Sector ETF (XHYI) at net asset value and market price as compared to the ICE Diversified US Cash Pay High Yield Core Industrial Index⁽¹⁾ from the Fund’s inception date (February 15, 2022⁽²⁾) to April 30, 2023.

BondBloxx USD High Yield Bond Industrial Sector ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.35%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Telecom, Media & Technology Sector ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx USD High Yield Bond Telecom, Media & Technology Sector ETF (XHYT) at net asset value and market price as compared to the ICE Diversified US Cash Pay High Yield Telecom, Media & Technology Index⁽¹⁾ from the Fund’s inception date (February 15, 2022⁽²⁾) to April 30, 2023.

BondBloxx USD High Yield Bond Telecom, Media & Technology Sector ETF

Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.35%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Healthcare Sector ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx USD High Yield Bond Healthcare Sector ETF (XHYH) at net asset value and market price as compared to the ICE Diversified US Cash Pay High Yield Healthcare Index⁽¹⁾ from the Fund’s inception date (February 15, 2022⁽²⁾) to April 30, 2023.

BondBloxx USD High Yield Bond Healthcare Sector ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.35%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Financial & REIT Sector ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx USD High Yield Bond Financial & REIT Sector ETF (XHYF) at net asset value and market price as compared to the ICE Diversified US Cash Pay High Yield Financial & REIT Index⁽¹⁾ from the Fund’s inception date (February 15, 2022⁽²⁾) to April 30, 2023.

BondBloxx USD High Yield Bond Financial & REIT Sector ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.35%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Energy Sector ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx USD High Yield Bond Energy Sector ETF (XHYE) at net asset value and market price as compared to the ICE Diversified US Cash Pay High Yield Energy Index⁽¹⁾ from the Fund’s inception date (February 15, 2022⁽²⁾) to April 30, 2023.

BondBloxx USD High Yield Bond Energy Sector ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.35%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Consumer Cyclicals Sector ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx USD High Yield Bond Consumer Cyclicals Sector ETF (XHYC) at net asset value and market price as compared to the ICE Diversified US Cash Pay High Yield Consumer Cyclical Index⁽¹⁾ from the Fund’s inception date (February 15, 2022⁽²⁾) to April 30, 2023.

BondBloxx USD High Yield Bond Consumer Cyclicals Sector ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.35%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Consumer Non-Cyclicals Sector ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx USD High Yield Bond Consumer Non-Cyclicals Sector ETF (XHYD) at net asset value and market price as compared to the ICE Diversified US Cash Pay High Yield Consumer Non-Cyclical Index⁽¹⁾ from the Fund’s inception date (February 15, 2022⁽²⁾) to April 30, 2023.

BondBloxx USD High Yield Bond Consumer Non-Cyclicals Sector ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.35%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx B Rated USD High Yield Corporate Bond ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx B Rated USD High Yield Corporate Bond ETF (XB) at net asset value and market price as compared to the ICE BofA Single-B US Cash Pay High Yield Constrained Index⁽¹⁾ from the Fund’s inception date (May 24, 2022⁽²⁾) to April 30, 2023.

BondBloxx B Rated USD High Yield Corporate Bond ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.30%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx BB Rated USD High Yield Corporate Bond ETF Growth

Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx BB Rated USD High Yield Corporate Bond ETF (XBB) at net asset value and market price as compared to the ICE BofA BB US Cash Pay High Yield Constrained Index⁽¹⁾ from the Fund’s inception date (May 24, 2022⁽²⁾) to April 30, 2023.

BondBloxx BB Rated USD High Yield Corporate Bond ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.20%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx CCC Rated USD High Yield Corporate Bond ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx CCC Rated USD High Yield Corporate Bond ETF (XCCC) at net asset value and market price as compared to the ICE CCC US Cash Pay High Yield Constrained Index⁽¹⁾ from the Fund’s inception date (May 24, 2022⁽²⁾) to April 30, 2023.

BondBloxx CCC Rated USD High Yield Corporate Bond ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.40%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF (XEMD) at net asset value and market price as compared to the J.P. Morgan EMBI Global Diversified Liquid 1-10 Year Maturity Index⁽¹⁾ from the Fund’s inception date (June 28, 2022⁽²⁾) to April 30, 2023.

BondBloxx JP Morgan USD Emerging Markets 1-10 Year Bond ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the Cboe BZX, Inc. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.29%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg Six Month Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg Six Month Target Duration US Treasury ETF (XHLF) at net asset value and market price as compared to the Bloomberg US Treasury 6 Month Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.03%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg One Year Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg One Year Target Duration US Treasury ETF (XONE) at net asset value and market price as compared to the Bloomberg US Treasury 1 Year Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg One Year Target Duration US Treasury ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.03%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg Two Year Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg Two Year Target Duration US Treasury ETF (XTWO) at net asset value and market price as compared to the Bloomberg US Treasury 2 Year Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg Two Year Target Duration US Treasury ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.05%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg Three Year Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg Three Year Target Duration US Treasury ETF (XTRE) at net asset value and market price as compared to the Bloomberg US Treasury 3 Year Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg Three Year Target Duration US Treasury ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.05%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg Five Year Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg Five Year Target Duration US Treasury ETF (XFIV) at net asset value and market price as compared to the Bloomberg US Treasury 5 Year Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg Five Year Target Duration US Treasury ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.05%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF (XSVN) at net asset value and market price as compared to the Bloomberg US Treasury 7 Year Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg Seven Year Target Duration US Treasury ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.05%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF (XTEN) at net asset value and market price as compared to the Bloomberg US Treasury 10 Year Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg Ten Year Target Duration US Treasury ETF
Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.075%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF Growth
Fund Performance Overview (Unaudited) (Continued)

The following graph depicts the hypothetical $10,000 investment in the BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF (XTWY) at net asset value and market price as compared to the Bloomberg US Treasury 20 Year Duration Index⁽¹⁾ from the Fund’s inception date (September 13, 2022⁽²⁾) to April 30, 2023.

BondBloxx Bloomberg Twenty Year Target Duration US Treasury ETF

Growth of a Hypothetical $10,000 Investment

Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. To obtain performance information current to the most recent month end, please visit https://bondbloxxetf.com/.

Net asset value (“NAV”) returns are based on the dollar value of a single share of the Fund, calculated using the value of the underlying assets of the Fund minus its liabilities, divided by the number of shares outstanding. The NAV is typically calculated at 4:00 pm Eastern time on each business day the New York Stock Exchange is open for trading. Market returns are based on the trade price at which shares are bought and sold on the NYSE Arca, Inc. using the last share trade. Market performance does not represent the returns you would receive if you traded shares at other times. Total Return reflects reinvestment of distributions on ex-date for NAV returns and payment date for Market Price returns. The market price of the Fund’s shares may differ significantly from their NAV during periods of market volatility. The referenced indices are shown for informational purposes only and are not meant to represent the Fund. One cannot invest directly in an index.

The Fund’s performance assumes the reinvestment of all dividends and all capital gains. Returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the sale of Fund shares.

As stated in the current prospectus, the expense ratio is 0.125%. Please refer to the Financial Highlights herein for the most recent expense ratio information.

BONDBLOXX ETF TRUST

Fund Expense Examples (Unaudited)

As a shareholder, you incur two types of costs: (1) transaction costs for purchasing and selling shares; and (2) ongoing costs, including management fees and other Fund expenses. The following examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other funds. This example is intended to help you compare the cost of owning shares of the Fund with the cost of investing in other funds. The example assumes that you invest $1,000 in the Fund at the beginning of the period (November 1, 2022) and held for the entire period until April 30, 2023. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same.

Actual Expenses

The first line under each Fund in the tables below provides information about actual account values and actual expenses. You may use the information, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses paid during period” to estimate the expenses you paid on your account during this period.

Hypothetical Example for Comparison Purposes

The second line under each Fund in the tables below provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund with other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line under the Fund in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

BONDBLOXX ETF TRUST

Fund Expense Examples (Unaudited) (Continued)

BONDBLOXX ETF TRUST

Fund Expense Examples (Unaudited) (Continued)

BONDBLOXX ETF TRUST

BondBloxx USD High Yield Bond Industrial Sector ETF
Portfolio of Investments
April 30, 2023 (Unaudited)