Semiannual report
John Hancock
Multifactor ETFs
ETF
October 31, 2021

A message to shareholders
Dear shareholder,
Equities delivered robust returns during the six months ended October 31, 2021. Although the outlook for economic growth, corporate earnings, and U.S. Federal Reserve policy became less favorable than it had been earlier in the year, investors continued to pour cash into stocks at a time of relatively limited return opportunities in the bond market. World monetary policy was also highly supportive, with most global central banks holding interest rates near zero and maintaining their stimulative quantitative easing programs even as the economy recovered.
As new variants of COVID-19 emerge, the markets get increasingly volatile and economic disruptions may occur. In these uncertain times, your financial professional can assist with positioning your portfolio so that it’s sufficiently diversified to help meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I’d like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you’ve placed in us.
Sincerely,
Andrew G. Arnott
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO’s views as of this report’s period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.

John Hancock
Multifactor ETFs
Table of contents
2 Multifactor exchange-traded funds (ETFs) at a glance
4 Multifactor Consumer Discretionary ETF
5 Multifactor Consumer Staples ETF
6 Multifactor Developed International ETF
7 Multifactor Emerging Markets ETF
8 Multifactor Energy ETF
9 Multifactor Financials ETF
10 Multifactor Healthcare ETF
11 Multifactor Industrials ETF
12 Multifactor Large Cap ETF
13 Multifactor Materials ETF
14 Multifactor Media and Communications ETF
15 Multifactor Mid Cap ETF
16 Multifactor Small Cap ETF
17 Multifactor Technology ETF
18 Multifactor Utilities ETF
19 Your expenses
21 Fund’s investments
75 Financial statements
88 Financial highlights
96 Notes to financial statements
109 Evaluation of advisory and subadvisory agreements by the Board of Trustees
118 More information
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 1

Table of Contents
Multifactor exchange-traded funds (ETFs) at a glance
Many traditional indexes and index funds are weighted by market capitalization, a bias that can expose investors to certain risks and potentially reduce returns. Strategic beta strategies such as John Hancock Multifactor ETFs offer a different approach. Each ETF seeks to improve on cap-weighted strategies by tracking an index that combines active management insight with the discipline of a rules based approach.
STRATEGIC BETA1: STRIKING A BALANCE BETWEEN ACTIVE AND PASSIVE INVESTING

PHILOSOPHY BACKING INDEX DESIGN

According to Dimensional Fund Advisors, subadvisor for all John Hancock Multifactor ETFs, there are four key factors that drive higher expected returns, and these factors guide Dimensional’s index construction and semiannual reconstitution.
Market
Equity premium—stocks over bonds
Company size
Small-cap premium—small company stocks over large company stocks
Relative price2
Value premium—value stocks over growth stocks
Profitability3
Profitability premium—stocks of highly profitable companies over stocks of less profitable companies
To be considered a true factor, a premium must be sensible, persistent across time periods, pervasive across markets, robust in data, and cost effective.
WHY MULTIFACTOR?

Individual factors can be volatile: there’s no telling which will be the best performing from year to year. Adopting a multifactor approach is one way investors can pursue more consistent—and more attractive—risk-adjusted returns.
1 Strategic beta (also known as smart beta) defines a set of investment strategies that seek to improve on traditional market-capitalization weighted indexes in order to lower risk and achieve better diversification.
2 Relative price as measured by the price-to-book ratio; value stocks are those with lower price-to-book ratios.
3 Profitability is a measure of current profitability, based on information from individual companies’ income statements.
2 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Notes about risk
Each fund is subject to various risks as described in the fund’s prospectus. The novel COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect fund performance. For more information, please refer to the “Principal risk” section of the prospectus. Current and future portfolio holdings are subject to change and risk. Investing involves risk, including the potential loss of principal. There is no guarantee that a fund’s investment strategy will be successful and there can be no assurance that active trading markets for shares will develop or be maintained by market makers or authorized participants.
A note about the performance shown on the following pages
Net asset value (NAV) performance is based on the NAV calculated each business day. It is calculated in accordance with the standard formula for valuing investment company shares as of the close of regular trading hours on the NYSE (see Note 2 to financial statements). Market price is determined using the bid/ask midpoint at 4 P.M. Eastern time, when the NAV is typically calculated. Your returns may differ if you traded shares at other times during the day.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance cited. For the most recent month-end performance, visit jhinvestments.com/etf.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 3

Table of Contents
Multifactor Consumer Discretionary ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 47.39 18.79 15.42 7.45 136.56 139.56
Market price 47.38 18.79 15.42 7.43 136.49 139.58
John Hancock Dimensional Consumer Discretionary Index2 48.03 19.30 15.92 7.67 141.62 146.01
Russell 1000 Consumer Discretionary Index3 40.03 22.97 19.59 8.22 181.16 197.39
    
1 From 9-28-15.
2 The John Hancock Dimensional Consumer Discretionary Index is a rules-based index of U.S. consumer discretionary stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Consumer Discretionary Index comprises securities of the Russell 1000 Index classified in the consumer discretionary sector. Effective 9-21-20, the underlying components of the Russell 1000 Consumer Discretionary Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Specialty retail 27.8
Hotels, restaurants and leisure 20.3
Automobiles 11.9
Textiles, apparel and luxury goods 9.1
Internet and direct marketing retail 8.8
Multiline retail 6.5
Leisure products 3.0
Household durables 2.7
Commercial services and supplies 1.9
Road and rail 1.7
Other 6.3
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Consumer Discretionary ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Tesla, Inc. 8.0
The Home Depot, Inc. 5.4
Amazon.com, Inc. 5.3
Target Corp. 3.2
NIKE, Inc., Class B 3.0
Lowe’s Companies, Inc. 2.3
Best Buy Company, Inc. 2.1
McDonald’s Corp. 2.0
The TJX Companies, Inc. 1.8
General Motors Company 1.8
TOTAL 34.9
The value of a $10,000 investment calculated at market value from inception through period end would be $23,958.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.71
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
4 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Multifactor Consumer Staples ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 18.79 8.83 8.28 1.07 52.65 56.10
Market price 18.70 8.82 8.28 1.04 52.57 56.06
John Hancock Dimensional Consumer Staples Index2 19.31 9.30 8.75 1.28 55.96 59.91
Russell 1000 Consumer Staples Index3 19.62 7.09 6.83 2.50 40.81 44.74
    
1 From 3-28-16.
2 The John Hancock Dimensional Consumer Staples Index is a rules-based index of U.S. consumer staples stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Consumer Staples Index comprises securities of the Russell 1000 Index classified in the consumer staples sector. Effective 9-21-20, the underlying components of the Russell 1000 Consumer Staples Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Food products 28.9
Food and staples retailing 25.2
Beverages 20.8
Household products 14.6
Tobacco 5.7
Chemicals 3.5
Household durables 0.8
Personal products 0.4
Short-term investments and other 0.1
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Consumer Staples ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Costco Wholesale Corp. 6.5
PepsiCo, Inc. 6.3
Walmart, Inc. 6.1
The Procter & Gamble Company 6.1
The Coca-Cola Company 6.0
Mondelez International, Inc., Class A 3.7
The Kroger Company 3.4
Philip Morris International, Inc. 3.3
Archer-Daniels-Midland Company 3.1
Constellation Brands, Inc., Class A 3.0
TOTAL 47.5
The value of a $10,000 investment calculated at market value from inception through period end would be $15,606.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.94
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 5

Table of Contents
Multifactor Developed International ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1
6-month Since fund
inception1
Net asset value 33.91 9.04 3.68 52.56
Market price 34.04 9.15 4.56 53.29
John Hancock Dimensional Developed International Index2 34.91 9.83 3.98 58.00
MSCI EAFE Index3 34.18 9.60 4.14 56.41
    
1 From 12-15-16.
2 The John Hancock Dimensional Developed International Index is a rules-based index of large-cap stocks in developed markets outside of North America that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The MSCI Europe, Australasia, and Far East (EAFE) Index tracks the performance of publicly traded large- and mid-cap stocks of companies in those regions.
SECTOR COMPOSITION (% of net assets)
Industrials 17.4
Financials 16.5
Consumer discretionary 13.1
Health care 10.1
Materials 10.0
Consumer staples 8.6
Information technology 7.1
Communication services 5.9
Utilities 4.1
Energy 3.5
Real estate 2.5
Short-term investments and other 1.2
TOTAL 100.0
 
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Developed International ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Nestle SA 1.6
ASML Holding NV 1.3
Toyota Motor Corp. 1.2
Roche Holding AG 1.0
LVMH Moet Hennessy Louis Vuitton SE 0.8
Novartis AG 0.8
Novo Nordisk A/S, B Shares 0.7
Cie Generale des Etablissements Michelin SCA 0.7
Royal Dutch Shell PLC, B Shares 0.7
AIA Group, Ltd. 0.7
TOTAL 9.5
The value of a $10,000 investment calculated at market value from inception through period end would be $15,329.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.43
Net (%) 0.39
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
6 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Multifactor Emerging Markets ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1
6-month Since fund
inception1
Net asset value 22.47 7.64 -3.72 25.59
Market price 22.64 7.57 -3.64 25.34
John Hancock Dimensional Emerging Markets Index2 24.46 8.60 -2.96 29.10
MSCI Emerging Markets Index3 16.96 8.73 -4.87 29.60
    
1 From 9-27-18.
2 The John Hancock Dimensional Emerging Markets Index is a rules-based index of large-cap stocks in emerging markets, which may include frontier markets (emerging markets in an earlier stage of development) that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The MSCI Emerging Markets (EM) Index tracks the performance of publicly traded large- and mid-cap emerging-market stocks.
SECTOR COMPOSITION (% of total investments)
Financials 23.5
Information technology 17.9
Consumer discretionary 12.6
Materials 10.7
Communication services 9.1
Energy 6.7
Consumer staples 6.5
Industrials 4.7
Health care 3.8
Utilities 2.7
Real estate 1.8
TOTAL 100.0
 
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Emerging Markets ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of total investments)
Taiwan Semiconductor Manufacturing Company, Ltd. 3.9
Samsung Electronics Company, Ltd. 3.6
Tencent Holdings, Ltd. 2.9
Alibaba Group Holding, Ltd., ADR 2.0
Reliance Industries, Ltd. 1.2
China Construction Bank Corp., H Shares 1.1
Infosys, Ltd. 1.0
HDFC Bank, Ltd. 1.0
Housing Development Finance Corp., Ltd. 0.9
Ping An Insurance Group Company of China, Ltd., H Shares 0.9
TOTAL 18.5
The value of a $10,000 investment calculated at market value from inception through period end would be $12,534.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.55
Net (%) 0.49
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 7

Table of Contents
Multifactor Energy ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 118.73 -0.33 1.44 23.27 -1.66 8.36
Market price 119.76 -0.33 1.45 23.26 -1.66 8.38
John Hancock Dimensional Energy Index2 119.75 0.06 1.85 23.54 0.28 10.81
Russell 1000 Energy Index3 109.45 1.36 2.99 21.42 6.97 17.92
    
1 From 3-28-16.
2 The John Hancock Dimensional Energy Index is a rules-based index of U.S. energy stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Energy Index comprises securities of the Russell 1000 Index classified in the energy sector. Effective 9-21-20, the underlying components of the Russell 1000 Energy Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Oil, gas and consumable fuels 88.1
Energy equipment and services 11.7
Short-term investments and other 0.2
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Energy ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
EOG Resources, Inc. 6.7
ConocoPhillips 6.6
Chevron Corp. 5.8
Exxon Mobil Corp. 5.8
Schlumberger NV 5.6
Marathon Petroleum Corp. 5.5
The Williams Companies, Inc. 5.3
Pioneer Natural Resources Company 4.6
Occidental Petroleum Corp. 4.3
ONEOK, Inc. 4.0
TOTAL 54.2
The value of a $10,000 investment calculated at market value from inception through period end would be $10,838.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 1.18
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
8 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Multifactor Financials ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 62.81 17.21 15.23 8.15 121.20 137.22
Market price 62.98 17.21 15.23 8.14 121.19 137.25
John Hancock Dimensional Financials Index2 63.53 17.72 15.74 8.36 126.10 143.71
Russell 1000 Financials Index3 70.87 20.01 17.80 12.41 148.95 171.31
    
1 From 9-28-15.
2 The John Hancock Dimensional Financials Index is a rules-based index of U.S. financial stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Financials Index comprises securities of the Russell 1000 Index classified in the financials sector. Effective 9-21-20, the underlying components of the Russell 1000 Financials Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Banks 27.2
Capital markets 23.9
Insurance 23.6
IT services 11.8
Consumer finance 6.5
Diversified financial services 4.8
Professional services 1.8
Thrifts and mortgage finance 0.2
Auto components 0.1
Short-term investments and other 0.1
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Financials ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
JPMorgan Chase & Co. 4.0
Berkshire Hathaway, Inc., Class B 3.9
Bank of America Corp. 3.2
Visa, Inc., Class A 3.0
Mastercard, Inc., Class A 2.7
Wells Fargo & Company 2.3
PayPal Holdings, Inc. 2.1
The Goldman Sachs Group, Inc. 1.9
Citigroup, Inc. 1.8
The Travelers Companies, Inc. 1.8
TOTAL 26.7
The value of a $10,000 investment calculated at market value from inception through period end would be $23,725.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.81
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 9

Table of Contents
Multifactor Healthcare ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 30.71 16.75 13.65 8.39 116.87 118.06
Market price 30.66 16.74 13.65 8.37 116.84 118.06
John Hancock Dimensional Healthcare Index2 31.24 17.27 14.15 8.60 121.75 123.99
Russell 1000 Health Care Index3 32.69 17.64 14.53 10.75 125.26 128.57
    
1 From 9-28-15.
2 The John Hancock Dimensional Healthcare Index is a rules-based index of U.S. healthcare stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Health Care Index comprises securities of the Russell 1000 Index classified in the healthcare sector. Effective 9-21-20, the underlying components of the Russell 1000 Health Care Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Health care equipment and supplies 25.0
Health care providers and services 22.4
Pharmaceuticals 20.1
Biotechnology 15.6
Life sciences tools and services 13.6
Health care technology 2.7
Diversified consumer services 0.6
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Healthcare ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
UnitedHealth Group, Inc. 5.7
Johnson & Johnson 5.7
Thermo Fisher Scientific, Inc. 3.3
Pfizer, Inc. 3.2
Merck & Company, Inc. 2.8
Abbott Laboratories 2.4
Eli Lilly & Company 2.4
Danaher Corp. 2.3
AbbVie, Inc. 2.2
Bristol-Myers Squibb Company 2.0
TOTAL 32.0
The value of a $10,000 investment calculated at market value from inception through period end would be $21,806.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.67
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
10 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Multifactor Industrials ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 43.17 17.15 16.27 5.98 120.64 132.54
Market price 43.06 17.14 16.27 5.95 120.55 132.51
John Hancock Dimensional Industrials Index2 43.77 17.67 16.79 6.19 125.60 138.44
Russell 1000 Industrials Index3 36.99 14.56 13.82 0.52 97.32 106.38
    
1 From 3-28-16.
2 The John Hancock Dimensional Industrials Index is a rules-based index of U.S. industrial stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Industrials Index comprises securities of the Russell 1000 Index classified in the industrials sector. Effective 9-21-20, the underlying components of the Russell 1000 Industrials Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Machinery 20.8
Road and rail 10.0
Aerospace and defense 10.0
IT services 7.5
Electrical equipment 7.5
Building products 5.9
Household durables 5.0
Air freight and logistics 4.8
Professional services 4.8
Commercial services and supplies 4.7
Other 19.0
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Industrials ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Accenture PLC, Class A 2.8
Union Pacific Corp. 2.2
United Parcel Service, Inc., Class B 1.9
Honeywell International, Inc. 1.8
Raytheon Technologies Corp. 1.7
Caterpillar, Inc. 1.7
United Rentals, Inc. 1.7
CSX Corp. 1.6
3M Company 1.5
Norfolk Southern Corp. 1.5
TOTAL 18.4
The value of a $10,000 investment calculated at market value from inception through period end would be $23,251.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.73
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 11

Table of Contents
Multifactor Large Cap ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 43.00 17.84 16.46 8.98 127.20 153.04
Market price 42.87 17.83 16.46 8.98 127.17 153.05
John Hancock Dimensional Large Cap Index2 43.44 18.21 16.82 9.14 130.83 157.91
Russell 1000 Index3 43.51 19.16 17.62 10.37 140.28 168.84
    
1 From 9-28-15.
2 The John Hancock Dimensional Large Cap Index is a rules-based index of large-cap U.S. stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Index tracks the performance of 1,000 publicly traded large-cap companies in the United States.
SECTOR COMPOSITION (% of net assets)
Information technology 24.5
Financials 13.3
Health care 12.8
Consumer discretionary 11.8
Industrials 11.1
Communication services 8.0
Consumer staples 5.2
Materials 3.8
Utilities 3.4
Real estate 3.2
Energy 2.8
Short-term investments and other 0.1
TOTAL 100.0
 
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Large Cap ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Microsoft Corp. 4.3
Apple, Inc. 3.5
Amazon.com, Inc. 2.3
Alphabet, Inc., Class A 2.0
Facebook, Inc., Class A 1.3
JPMorgan Chase & Co. 0.9
Tesla, Inc. 0.9
UnitedHealth Group, Inc. 0.8
Berkshire Hathaway, Inc., Class B 0.8
NVIDIA Corp. 0.8
TOTAL 17.6
The value of a $10,000 investment calculated at market value from inception through period end would be $25,305.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.31
Net (%) 0.29
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
12 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Multifactor Materials ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 38.35 13.98 13.75 1.46 92.34 105.68
Market price 38.31 13.97 13.75 1.46 92.31 105.69
John Hancock Dimensional Materials Index2 38.47 14.38 14.16 1.66 95.73 109.90
Russell 1000 Basic Materials Index3 39.26 14.60 14.16 2.78 97.64 109.89
    
1 From 3-28-16.
2 The John Hancock Dimensional Materials Index is a rules-based index of U.S. material stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Basic Materials Index comprises securities of the Russell 1000 Index classified in the material sector. Effective 9-21-20, the underlying components of the Russell 1000 Basic Materials Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Chemicals 51.5
Containers and packaging 20.8
Metals and mining 18.5
Construction materials 5.9
Building products 1.9
Multi-utilities 0.9
Machinery 0.4
Paper and forest products 0.1
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Materials ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Linde PLC 5.5
Nucor Corp. 4.9
PPG Industries, Inc. 4.4
LyondellBasell Industries NV, Class A 4.2
The Sherwin-Williams Company 4.1
DuPont de Nemours, Inc. 4.0
International Flavors & Fragrances, Inc. 3.9
Air Products & Chemicals, Inc. 3.4
Ball Corp. 3.3
Dow, Inc. 3.3
TOTAL 41.0
The value of a $10,000 investment calculated at market value from inception through period end would be $20,569.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.92
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 13

Table of Contents
Multifactor Media and Communications ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1
6-month Since fund
inception1
Net asset value 28.18 17.29 -2.83 52.39
Market price 28.06 17.29 -3.00 52.39
John Hancock Dimensional Media and Communications Index2 28.70 17.70 -2.65 53.78
Russell 1000 Telecommunications Index3 18.94 5.40 -3.87 14.90
    
1 From 3-12-19.
2 The John Hancock Dimensional Media and Communications Index is a rules-based index of U.S. media and communication stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Telecommunications Index comprises securities of the Russell 1000 Index classified in the telecommunications sector. Effective 9-21-20, the underlying components of the Russell 1000 Telecommunications Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Media 30.7
Entertainment 27.5
Interactive media and services 22.0
Diversified telecommunication services 13.2
Wireless telecommunication services 4.0
Professional services 1.7
Software 0.9
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Media and Communications ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Netflix, Inc. 7.7
The Walt Disney Company 5.9
AT&T, Inc. 5.8
Facebook, Inc., Class A 5.4
Comcast Corp., Class A 5.4
Verizon Communications, Inc. 4.4
T-Mobile US, Inc. 4.0
Electronic Arts, Inc. 3.8
Match Group, Inc. 3.6
Alphabet, Inc., Class A 3.4
TOTAL 49.4
The value of a $10,000 investment calculated at market value from inception through period end would be $15,239.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.77
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
14 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Multifactor Mid Cap ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 45.29 16.47 14.91 6.48 114.35 133.21
Market price 45.20 16.46 14.91 6.50 114.19 133.25
John Hancock Dimensional Mid Cap Index2 45.92 16.94 15.39 6.69 118.72 139.19
Russell Midcap Index3 45.40 16.47 14.99 7.37 114.30 134.20
    
1 From 9-28-15.
2 The John Hancock Dimensional Mid Cap Index is a rules-based index of mid-cap U.S. stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell Midcap Index tracks the performance of approximately 800 publicly traded mid-cap companies in the United States.
SECTOR COMPOSITION (% of net assets)
Information technology 18.5
Industrials 16.0
Consumer discretionary 13.6
Financials 13.5
Health care 12.3
Materials 6.4
Real estate 5.8
Utilities 4.3
Energy 3.4
Communication services 3.1
Consumer staples 3.1
TOTAL 100.0
 
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Mid Cap ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
United Rentals, Inc. 0.4
Parker-Hannifin Corp. 0.4
SVB Financial Group 0.4
Rockwell Automation, Inc. 0.4
Laboratory Corp. of America Holdings 0.4
Ameriprise Financial, Inc. 0.4
Keysight Technologies, Inc. 0.4
EPAM Systems, Inc. 0.4
ResMed, Inc. 0.4
Fifth Third Bancorp 0.4
TOTAL 4.0
The value of a $10,000 investment calculated at market value from inception through period end would be $23,325.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.42
Net (%) 0.41
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 15

Table of Contents
Multifactor Small Cap ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1
6-month Since fund
inception1
Net asset value 46.72 10.84 3.09 50.64
Market price 46.59 10.84 3.13 50.64
John Hancock Dimensional Small Cap Index2 47.40 11.30 3.32 53.15
Russell 2000 Index3 50.80 13.14 1.85 63.45
    
1 From 11-8-17.
2 The John Hancock Dimensional Small Cap Index is a rules-based index of small-cap U.S. stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 2000 Index tracks the performance of approximately 2,000 publicly traded small-cap companies in the United States.
SECTOR COMPOSITION (% of net assets)
Industrials 17.7
Financials 16.6
Consumer discretionary 14.9
Information technology 14.5
Health care 10.2
Real estate 8.2
Materials 5.8
Utilities 3.7
Energy 3.1
Consumer staples 3.0
Communication services 2.2
Short-term investments and other 0.1
TOTAL 100.0
 
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Small Cap ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Regal Rexnord Corp. 0.6
Brooks Automation, Inc. 0.5
TopBuild Corp. 0.5
Silicon Laboratories, Inc. 0.5
Saia, Inc. 0.5
Wyndham Hotels & Resorts, Inc. 0.5
Acuity Brands, Inc. 0.5
Mattel, Inc. 0.5
Cullen/Frost Bankers, Inc. 0.5
Janus Henderson Group PLC 0.5
TOTAL 5.1
The value of a $10,000 investment calculated at market value from inception through period end would be $15,064.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.45
Net (%) 0.42
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
16 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Multifactor Technology ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 52.61 27.86 26.37 15.81 241.67 316.28
Market price 52.56 27.85 26.38 15.87 241.59 316.35
John Hancock Dimensional Technology Index2 53.27 28.29 26.83 16.05 247.57 325.45
Russell 1000 Technology Index3 51.17 31.44 29.22 18.92 292.32 376.92
    
1 From 9-28-15.
2 The John Hancock Dimensional Technology Index is a rules-based index of U.S. technology stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Technology Index comprises securities of the Russell 1000 Index classified in the technology sector. Effective 9-21-20, the underlying components of the Russell 1000 Technology Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Software 36.5
Semiconductors and semiconductor equipment 31.1
Technology hardware, storage and peripherals 9.6
IT services 8.7
Electronic equipment, instruments and components 7.8
Communications equipment 5.1
Electrical equipment 0.8
Interactive media and services 0.3
Short-term investments and other 0.1
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Technology ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Microsoft Corp. 6.4
Apple, Inc. 5.7
NVIDIA Corp. 4.5
Adobe, Inc. 2.7
salesforce.com, Inc. 2.7
Broadcom, Inc. 2.5
Cisco Systems, Inc. 2.4
Intel Corp. 2.2
Texas Instruments, Inc. 2.2
QUALCOMM, Inc. 1.6
TOTAL 32.9
The value of a $10,000 investment calculated at market value from inception through period end would be $41,635.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.67
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  SEMIANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 17

Table of Contents
Multifactor Utilities ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 10/31/2021 (%)

Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1
6-month 5-year Since fund
inception1
Net asset value 11.16 8.31 7.93 1.00 49.07 53.28
Market price 11.17 8.31 7.93 0.99 49.02 53.28
John Hancock Dimensional Utilities Index2 11.52 8.77 8.40 1.10 52.28 57.06
Russell 1000 Utilities Index3 14.26 9.26 8.34 3.30 55.71 56.55
    
1 From 3-28-16.
2 The John Hancock Dimensional Utilities Index is a rules-based index of U.S. utility stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Utilities Index comprises securities of the Russell 1000 Index classified in the utility sector. Effective 9-21-20, the underlying components of the Russell 1000 Utilities Index reflect a new company classification methodology. Consequently, the custom blended benchmark’s performance consists of 100% of the prior methodology through 9-20-20 and 100% of the current methodology thereafter.
INDUSTRY COMPOSITION (% of net assets)
Electric utilities 55.9
Multi-utilities 32.3
Water utilities 4.3
Independent power and renewable electricity producers 4.0
Gas utilities 3.4
Short-term investments and other 0.1
TOTAL 100.0
GROWTH OF $10,000

This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Utilities ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
American Electric Power Company, Inc. 5.8
Duke Energy Corp. 5.4
Exelon Corp. 5.3
Xcel Energy, Inc. 5.0
The Southern Company 4.7
Sempra Energy 4.5
Edison International 4.2
Public Service Enterprise Group, Inc. 4.0
Eversource Energy 3.8
Entergy Corp. 3.8
TOTAL 46.5
The value of a $10,000 investment calculated at market value from inception through period end would be $15,328.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.94
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
18 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL REPORT  

Table of Contents
Your expenses
These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other funds.
Understanding fund expenses
As a shareholder of a fund, you incur two types of costs:
Transaction costs, which may include creation and redemption fees and brokerage charges.
Ongoing operating expenses, including management fees, and other fund expenses.
We are presenting only your ongoing operating expenses here.
Actual expenses/actual returns
The first line of each fund in the following table is intended to provide information about a fund’s actual ongoing operating expenses, and is based on the fund’s actual NAV return. It assumes an account value of $1,000.00 on May 1, 2021, with the same investment held until October 31, 2021.
Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at October 31, 2021, by $1,000.00, then multiply it by the “expenses paid” from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:
Hypothetical example for comparison purposes
The second line of each fund in the following table allows you to compare a fund’s ongoing operating expenses with those of any other fund. It provides an example of the fund’s hypothetical account values and hypothetical expenses based on the fund’s actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund’s actual return). It assumes an account value of $1,000.00 on May 1, 2021, with the same investment held until October 31, 2021. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
Remember, these examples do not include any transaction costs. A fund charges a transaction fee per creation unit to those creating or redeeming creation units, and those buying or selling shares in the secondary market will incur customary brokerage commissions and charges. Therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectus for details regarding transaction costs.
SHAREHOLDER EXPENSE EXAMPLE CHART

  Account
value on
5-1-2021
Ending
value on
10-31-2021
Expenses
paid during
10-31-20211
Annualized
expense
ratio
Multifactor Consumer Discretionary ETF
Actual expenses/actual returns $1,000.00 $1,074.50 $2.09 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Consumer Staples ETF
Actual expenses/actual returns $1,000.00 $1,010.70 $2.03 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Developed International ETF
Actual expenses/actual returns $1,000.00 $1,036.80 $2.00 0.39%
Hypothetical example for comparison purposes 1,000.00 1,023.20 1.99 0.39%
Multifactor Emerging Markets ETF
Actual expenses/actual returns $1,000.00 $962.80 $2.42 0.49%
Hypothetical example for comparison purposes 1,000.00 1,022.70 2.50 0.49%
  SEMIANNUAL | JOHN HANCOCK MULTIFACTOR ETFS 19

Table of Contents
SHAREHOLDER EXPENSE EXAMPLE CHART  (continued)

  Account
value on
5-1-2021
Ending
value on
10-31-2021
Expenses
paid during
10-31-20211
Annualized
expense
ratio
Multifactor Energy ETF
Actual expenses/actual returns $1,000.00 $1,232.70 $2.25 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Financials ETF
Actual expenses/actual returns $1,000.00 $1,081.50 $2.10 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Healthcare ETF
Actual expenses/actual returns $1,000.00 $1,083.90 $2.10 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Industrials ETF
Actual expenses/actual returns $1,000.00 $1,059.80 $2.08 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Large Cap ETF
Actual expenses/actual returns $1,000.00 $1,089.80 $1.53 0.29%
Hypothetical example for comparison purposes 1,000.00 1,023.70 1.48 0.29%
Multifactor Materials ETF
Actual expenses/actual returns $1,000.00 $1,014.60 $2.03 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Media and Communications ETF
Actual expenses/actual returns $1,000.00 $971.70 $1.99 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Mid Cap ETF
Actual expenses/actual returns $1,000.00 $1,064.80 $2.13 0.41%
Hypothetical example for comparison purposes 1,000.00 1,023.10 2.09 0.41%
Multifactor Small Cap ETF
Actual expenses/actual returns $1,000.00 $1,030.90 $2.15 0.42%
Hypothetical example for comparison purposes 1,000.00 1,023.10 2.14 0.42%
Multifactor Technology ETF
Actual expenses/actual returns $1,000.00 $1,158.10 $2.18 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
Multifactor Utilities ETF
Actual expenses/actual returns $1,000.00 $1,010.00 $2.03 0.40%
Hypothetical example for comparison purposes 1,000.00 1,023.20 2.04 0.40%
    
   
1 Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).
20 JOHN HANCOCK MULTIFACTOR ETFS | SEMIANNUAL  

Table of Contents
Funds’ investments
MULTIFACTOR CONSUMER DISCRETIONARY ETF

As of 10-31-21 (unaudited)
  Shares or
Principal
Amount
Value
COMMON STOCKS – 99.9%   $26,910,277
(Cost $22,299,590)    
Communication services – 0.5% 131,412
Entertainment – 0.5%  
Roku, Inc. (A) 431 131,412
Consumer discretionary – 92.9% 25,030,890
Auto components – 0.3%  
Fox Factory Holding Corp. (A) 561 90,293
Automobiles – 11.9%  
Ford Motor Company (A) 23,340 398,647
General Motors Company (A) 8,957 487,530
Harley-Davidson, Inc. 2,094 76,410
Tesla, Inc. (A) 1,935 2,155,590
Thor Industries, Inc. 715 72,901
Distributors – 1.7%  
Genuine Parts Company 1,946 255,140
LKQ Corp. (A) 3,552 195,644
Diversified consumer services – 0.8%  
Bright Horizons Family Solutions, Inc. (A) 807 133,962
Chegg, Inc. (A) 1,271 75,548
Hotels, restaurants and leisure – 20.3%  
Airbnb, Inc., Class A (A) 546 93,180
Booking Holdings, Inc. (A) 110 266,286
Boyd Gaming Corp. (A) 1,209 77,110
Caesars Entertainment, Inc. (A) 2,215 242,454
Carnival Corp. (A) 8,803 195,074
Chipotle Mexican Grill, Inc. (A) 134 238,390
Choice Hotels International, Inc. 386 54,279
Churchill Downs, Inc. 437 100,510
Darden Restaurants, Inc. 1,762 253,975
Domino’s Pizza, Inc. 360 176,029
DraftKings, Inc., Class A (A)(B) 3,166 147,504
Expedia Group, Inc. (A) 1,229 202,060
Hilton Worldwide Holdings, Inc. (A) 2,529 364,050
Hyatt Hotels Corp., Class A (A) 494 42,089
Las Vegas Sands Corp. (A) 2,244 87,090
Marriott International, Inc., Class A (A) 2,459 393,489
Marriott Vacations Worldwide Corp. 458 72,007
McDonald’s Corp. 2,220 545,121
MGM Resorts International 4,980 234,857
Norwegian Cruise Line Holdings, Ltd. (A) 3,795 97,607
Penn National Gaming, Inc. (A) 1,909 136,684
Planet Fitness, Inc., Class A (A) 863 68,652
Royal Caribbean Cruises, Ltd. (A) 2,327 196,469
Scientific Games Corp. (A) 531 42,507
Starbucks Corp. 3,547 376,230
Texas Roadhouse, Inc. 889 78,952
Vail Resorts, Inc. 519 178,904
Wyndham Hotels & Resorts, Inc. 1,189 100,435
Wynn Resorts, Ltd. (A) 889 79,832
MULTIFACTOR CONSUMER DISCRETIONARY ETF (continued)

  Shares or
Principal
Amount
Value
Consumer discretionary (continued)  
Hotels, restaurants and leisure (continued)  
Yum! Brands, Inc. 2,700 $337,338
Household durables – 2.7%  
Garmin, Ltd. 2,002 287,487
Helen of Troy, Ltd. (A) 329 74,009
Tempur Sealy International, Inc. 3,095 137,635
Whirlpool Corp. 1,056 222,636
Internet and direct marketing retail – 8.8%  
Amazon.com, Inc. (A) 423 1,426,540
Chewy, Inc., Class A (A)(B) 573 43,433
DoorDash, Inc., Class A (A) 626 121,945
eBay, Inc. 4,435 340,253
Etsy, Inc. (A) 1,288 322,889
Wayfair, Inc., Class A (A)(B) 466 116,081
Leisure products – 3.0%  
Brunswick Corp. 1,300 121,017
Hasbro, Inc. 1,593 152,546
Mattel, Inc. (A) 5,535 120,718
Peloton Interactive, Inc., Class A (A) 2,125 194,310
Polaris, Inc. 1,031 118,513
YETI Holdings, Inc. (A) 1,080 106,196
Multiline retail – 6.5%  
Dollar General Corp. 1,780 394,306
Dollar Tree, Inc. (A) 3,190 343,754
Kohl’s Corp. 1,842 89,392
Macy’s, Inc. 2,838 75,122
Target Corp. 3,289 853,890
Specialty retail – 27.8%  
Advance Auto Parts, Inc. 895 201,840
AutoNation, Inc. (A) 1,102 133,474
AutoZone, Inc. (A) 199 355,183
Bath & Body Works, Inc. 2,129 147,093
Best Buy Company, Inc. 4,549 556,070
Burlington Stores, Inc. (A) 657 181,523
CarMax, Inc. (A) 2,324 318,202
Carvana Company (A) 313 94,895
Dick’s Sporting Goods, Inc. 1,073 133,277
Five Below, Inc. (A) 756 149,159
Floor & Decor Holdings, Inc., Class A (A) 1,316 178,871
Foot Locker, Inc. 922 43,952
GameStop Corp., Class A (A) 418 76,707
Lithia Motors, Inc. 373 119,069
Lowe’s Companies, Inc. 2,635 616,116
O’Reilly Automotive, Inc. (A) 741 461,139
Penske Automotive Group, Inc. 414 43,905
RH (A) 213 140,501
Ross Stores, Inc. 3,562 403,218
The Gap, Inc. 3,628 82,319
The Home Depot, Inc. 3,915 1,455,362
The TJX Companies, Inc. 7,517 492,288
SEE NOTES TO FINANCIAL STATEMENTS SEMIANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 21

Table of Contents
MULTIFACTOR CONSUMER DISCRETIONARY ETF (continued)

  Shares or
Principal
Amount
Value
Consumer discretionary (continued)  
Specialty retail (continued)  
Tractor Supply Company 2,117 $459,749
Ulta Beauty, Inc. (A) 881 323,644
Victoria’s Secret & Company (A) 1,180 59,555
Williams-Sonoma, Inc. 1,460 271,166
Textiles, apparel and luxury goods – 9.1%  
Capri Holdings, Ltd. (A) 1,842 98,068
Columbia Sportswear Company 460 47,766
Crocs, Inc. (A) 550 88,798
Deckers Outdoor Corp. (A) 419 165,635
Hanesbrands, Inc. 7,394 125,994
Levi Strauss & Company, Class A 990 25,918
Lululemon Athletica, Inc. (A) 644 300,110
NIKE, Inc., Class B 4,829 807,843
PVH Corp. (A) 781 85,387
Ralph Lauren Corp. 644 81,897
Skechers USA, Inc., Class A (A) 1,651 76,293
Tapestry, Inc. 3,437 133,974
Under Armour, Inc., Class A (A) 2,200 48,312
Under Armour, Inc., Class C (A) 2,279 43,028
VF Corp. 4,392 320,089
Consumer staples – 0.9% 246,565
Personal products – 0.9%  
Coty, Inc., Class A (A) 2,074 17,588
The Estee Lauder Companies, Inc., Class A 706 228,977
Industrials – 5.6% 1,501,410
Building products – 1.5%  
Allegion PLC 1,540 197,582
Fortune Brands Home & Security, Inc. 1,969 199,657
Commercial services and supplies – 1.9%  
Copart, Inc. (A) 2,631 408,568
Rollins, Inc. 2,827 99,595
Road and rail – 1.7%  
Avis Budget Group, Inc. (A) 355 61,525
Lyft, Inc., Class A (A) 2,561 117,473
Uber Technologies, Inc. (A) 6,310 276,504
Trading companies and distributors – 0.5%  
SiteOne Landscape Supply, Inc. (A) 598 140,506
SHORT-TERM INVESTMENTS – 0.7%   $181,656
(Cost $181,659)    
Short-term funds – 0.7% 181,656
John Hancock Collateral Trust, 0.0370% (C)(D) 10,654 106,602
MULTIFACTOR CONSUMER DISCRETIONARY ETF (continued)

  Shares or
Principal
Amount
Value
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (C) 75,054 $75,054
Total investments (Multifactor Consumer Discretionary ETF) (Cost $22,481,249) 100.6% $27,091,933
Other assets and liabilities, net (0.6%)   (166,428)
Total net assets 100.0%   $26,925,505
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Non-income producing security.
(B) All or a portion of this security is on loan as of 10-31-21.
(C) The rate shown is the annualized seven-day yield as of 10-31-21.
(D) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
MULTIFACTOR CONSUMER STAPLES ETF

As of 10-31-21 (unaudited)
  Shares or
Principal
Amount
Value
COMMON STOCKS – 99.9%   $21,867,530
(Cost $19,446,763)    
Consumer discretionary – 0.8% 180,488
Household durables – 0.8%  
Newell Brands, Inc. 7,885 180,488
Consumer staples – 95.6% 20,932,039
Beverages – 20.8%  
Brown-Forman Corp., Class A 576 36,881
Brown-Forman Corp., Class B 5,313 360,700
Celsius Holdings, Inc. (A) 439 42,372
Constellation Brands, Inc., Class A 3,055 662,355
Keurig Dr. Pepper, Inc. 6,797 245,304
Molson Coors Beverage Company, Class B 3,889 171,466
Monster Beverage Corp. (A) 3,220 273,700
PepsiCo, Inc. 8,495 1,372,792
The Boston Beer Company, Inc., Class A (A) 152 74,857
The Coca-Cola Company 23,269 1,311,674
Food and staples retailing – 25.2%  
Albertsons Companies, Inc., Class A (B) 3,463