Annual report

John Hancock

ETFs

Multifactor

April 30, 2023

A message to shareholders

Dear shareholder,

Global equities produced strong total returns during the 12 months ended April 30, 2023, but the positive final result belies the fact that the backdrop was quite unfavorable until mid-October. During this time, stocks declined steadily due to the open-ended nature of the interest-rate increases being enacted by the U.S. Federal Reserve and other global central banks. In addition to making bonds a more attractive option, higher rates weighed on the outlook for economic growth and corporate earnings.

The backdrop changed for the better in the latter half of the period amid mounting investor optimism regarding the interest rate outlook and the prospect of a soft landing for the world economy. In addition, corporate profits consistently came in ahead of expectations. These factors helped stocks rally back into positive territory despite headlines regarding a string of high-profile bank failures. The European markets led the way higher over the full year, while Canada, the United States, and the emerging markets were notable laggards.

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

Global Head of Retail,
Manulife Investment Management

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
3	Management’s discussion of fund performance
6	Multifactor Developed International ETF
7	Multifactor Emerging Markets ETF
8	Multifactor Large Cap ETF
9	Multifactor Mid Cap ETF
10	Multifactor Small Cap ETF
11	Your expenses
13	Funds’ investments
54	Financial statements
60	Financial highlights
63	Notes to financial statements
73	Report of independent registered public accounting firm
74	Tax information
75	Statement regarding liquidity risk management
76	Trustees and Officers
79	More information

ANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS

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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.

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JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT

Management’s discussion of fund performance

Could you tell us about your investment philosophy and how it drives the composition of the ETFs you manage?

We’ve identified four characteristics, or dimensions, of expected returns that academic research has shown to account for most of the variation in historical asset returns and that we believe will account for most of the variation in future returns. These dimensions are the overall market, company size, relative price, and profitability.

The overall market dimension reflects the excess return over the risk-free rate, which is typically measured by short-term U.S. Treasury bills, that market participants demand for investing in a broadly diversified portfolio of equity securities without any style or market capitalization bias. That premium is called the equity premium.

The company size dimension reflects the excess return that investors demand for investing in small-capitalization stocks relative to large-capitalization stocks. The premium associated with this dimension is the small-cap, or size, premium.

The relative price dimension reflects the excess return that investors expect from investing in low relative price, or value, stocks—as measured, for instance, by their price-to-book ratios—in comparison with high relative price, or growth, stocks. The premium associated with this dimension is the value premium.

Finally, the profitability dimension provides a way to discern differences in expected returns of companies with similar price-driven characteristics. Our research shows that if two companies trade at the same relative price, the one with higher profitability should have a higher expected return over time. The premium associated with this dimension is called the profitability premium.

Relative to a cap-weighted measure of the market, we believe that incorporating the four dimensions of expected returns—market, company size, relative price, and profitability—into a single investment strategy offers the potential for outperformance over time, and an ETF is a vehicle well suited to our systematic and transparent investment approach. The indexes developed for John Hancock Multifactor ETFs are designed to capture these dimensions over time, and the funds are, in turn, designed to track their respective indexes.

Theoretical and empirical research suggests that investors can systematically pursue higher expected returns by targeting the size, relative price, and profitability dimensions in equity markets. We integrate these dimensions to emphasize stocks with smaller market capitalizations, lower relative prices, and higher profitability.

What drives changes to the composition of the funds?

Changes are made to the funds as a result of regularly scheduled reconstitutions, a semiannual process by which the list of stocks and their weights in each index are updated, as well as any unscheduled changes to the index driven by company events. Reconstitution ensures that the indexes that the funds track maintain their intended exposure to the dimensions of expected returns. In addition, we impose a maximum issuer cap in each index at the time of reconstitution to control stock-specific risk.

How did the broad equity market perform during the 12 months ended April 30, 2023?

The U.S. market had positive returns for the period, outperforming emerging markets but underperforming developed markets. Along the market capitalization dimension, U.S. small caps underperformed large caps, while mid caps outperformed small caps and underperformed large caps. Along the relative price dimension, U.S. large-cap value stocks underperformed large-cap growth stocks and U.S. small-cap value underperformed small-cap growth.

Following a historic 2022 rally where the U.S. dollar appreciated against nearly every other major currency, 2023 has seen developed and emerging-market currencies rebound strongly. Those currency movements, ultimately resulting in the dollar weakening year-to-date, have had a positive impact on the U.S. dollar-denominated returns of international markets.

JOHN HANCOCK MULTIFACTOR DEVELOPED INTERNATIONAL ETF (JHMD)

On a NAV basis, the fund underperformed the MSCI EAFE Index, a cap-weighted benchmark used as a proxy for developed ex-U.S. stock markets. The fund’s emphasis on stocks with smaller market capitalizations detracted from relative performance, as these stocks underperformed. Conversely, with low relative price (value) stocks outperforming high relative price (growth) stocks, the fund’s emphasis on value stocks contributed positively to relative performance. Additionally, on a country basis, the fund’s exposure to France detracted from relative performance while exposure to Switzerland contributed.

Compared with the MSCI EAFE Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to industrials, financials, and consumer discretionary. The largest country exposures were to Japan and the United Kingdom. Changes were made to the fund as a result of regularly scheduled

ANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS

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reconstitutions during the period. Notable changes in composition included increased weights in Shell PLC and BP PLC and decreased weights in Iberdrola SA and Veolia Environnement SA. We sold the fund’s holdings in Veolia Environment prior to period end.

JOHN HANCOCK MULTIFACTOR EMERGING MARKETS ETF (JHEM)

On a NAV basis, the fund outperformed the MSCI Emerging Markets Index, a cap-weighted benchmark used as a proxy for emerging markets. With low relative price (value) stocks outperforming high relative price (growth) stocks, the fund’s emphasis on value stocks contributed positively to relative performance. The fund’s emphasis on stocks with higher profitability also contributed positively to relative performance, as these stocks outperformed for the period. Additionally, on a country basis, the fund’s underweight to Saudi Arabia contributed to relative performance, as the country underperformed over the period.

Compared with the MSCI Emerging Markets Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to financials, information technology, and consumer discretionary. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in Samsung Electronics Company, Ltd. and Taiwan Semiconductor Manufacturing Company, Ltd. and decreased weights in JD.com, Inc. and Petroleo Brasileiro SA.

JOHN HANCOCK MULTIFACTOR LARGE CAP ETF (JHML)

On a NAV basis, the fund underperformed the Russell 1000 Index, a cap-weighted benchmark used as a proxy for the broad large-cap U.S. stock market. The fund’s greater emphasis on stocks with smaller market capitalizations detracted from relative performance, as mid caps underperformed large caps. Additionally, the fund’s emphasis on low relative price (value) stocks detracted from relative performance. Exposure to the consumer discretionary sector contributed to relative performance, which was partially offset by exposure to the information technology sector.

Compared with the Russell 1000 Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to information technology, financials, and healthcare. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in Microsoft Corp. and NVIDIA Corp. and decreased weights in Tesla, Inc. and Amazon.com, Inc.

JOHN HANCOCK MULTIFACTOR MID CAP ETF (JHMM)

On a NAV basis, the fund outperformed the Russell Midcap Index, a cap-weighted benchmark used as a proxy for the broad mid-cap U.S. stock market. The fund’s emphasis on stocks with higher profitability and smaller market capitalizations contributed positively to relative performance, as these stocks outperformed. Exposure to the information technology sector contributed to relative performance while exposure to the financials sector detracted.

Compared with the Russell Midcap Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to industrials, information technology, and financials. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in eBay, Inc. and D.R. Horton, Inc. and decreased weights in Republic Services, Inc. and Occidental Petroleum Corp. We sold the fund’s holdings in Republic Services and Occidental Petroleum prior to period end.

JOHN HANCOCK MULTIFACTOR SMALL CAP ETF (JHSC)

On a NAV basis, the fund outperformed the Russell 2000 Index, a cap-weighted benchmark used as a proxy for the broad small-cap U.S. stock market. The fund’s lesser exposure to micro caps (typically companies with under $250 million in assets under management) contributed positively to relative performance, as micro caps underperformed small caps for the period. The fund’s lesser exposure to stocks with the lowest profitability and highest relative prices also contributed positively to relative performance, as those stocks underperformed. Additionally, the fund’s overweight and exposure to the industrials sector contributed to relative performance.

Compared with the Russell 2000 Index, the fund emphasizes stocks with higher profitability. In absolute terms, the fund’s largest sector exposures were to industrials, financials, and information technology. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in Tenet Healthcare Corp. and Prometheus Biosciences, Inc. and decreased weights in American Campus Communities, Inc. and Brixmor Property Group, Inc. We sold the fund’s holdings in American Campus Communities and Brixmor Property Group prior to period end.

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JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT

Can you tell us about portfolio manager changes?

Effective September 1, 2022, Joel P. Schneider left the portfolio management team. Effective September 1, 2022, Casey Baum and Rita Chen were added to the portfolio management team.

Notes about risk

Each fund is subject to various risks as described in the fund’s prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The 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 calculated as follows: (i) for the time periods starting October 3, 2022, the NYSE Arca’s Official Closing Price or, if it more accurately reflects market price at the time as of which NAV is calculated, the bid/ask midpoint as of that time and (ii) for time periods preceding October 3, 2022, 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.

Casey Baum

Multifactor Developed International ETF

AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)

Average annual total returns (%)				Cumulative total returns (%)
	1-Year	5-Year	Since fund inception1	5-year	Since fund inception1
Net asset value	7.79	3.15	6.21	16.79	46.80
Market price	9.52	3.25	6.29	17.33	47.51
John Hancock Dimensional Developed International Index2	8.63	3.86	6.97	20.84	53.63
MSCI EAFE Index3	8.42	3.63	6.52	19.53	49.57

    

    

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	17.6
Financials	16.8
Consumer discretionary	11.1
Consumer staples	9.9
Health care	9.8
Materials	9.1
Energy	6.6
Information technology	6.0
Communication services	5.4
Utilities	4.6
Real estate	1.9
Short-term investments and other	1.2
TOTAL	100.0

Multifactor Emerging Markets ETF

AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)

Average annual total returns (%)			Cumulative total returns (%)
	1-Year	Since fund inception1	Since fund inception1
Net asset value	-5.32	1.49	7.03
Market price	-4.76	1.48	6.97
John Hancock Dimensional Emerging Markets Index2	-4.13	2.41	11.54
MSCI Emerging Markets Index3	-6.51	0.86	4.01

    

    

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 net assets)
Financials	23.9
Information technology	18.1
Consumer discretionary	11.5
Materials	11.1
Communication services	8.3
Consumer staples	7.2
Industrials	6.0
Energy	6.0
Health care	3.3
Utilities	3.2
Real estate	1.3
Short-term investments and other	0.1
TOTAL	100.0

Multifactor Large Cap ETF

AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)

Average annual total returns (%)				Cumulative total returns (%)
	1-Year	5-Year	Since fund inception1	5-year	Since fund inception1
Net asset value	1.57	10.34	11.81	63.54	133.32
Market price	1.49	10.33	11.80	63.46	133.22
John Hancock Dimensional Large Cap Index2	1.83	10.66	12.15	65.96	138.79
Russell 1000 Index3	1.82	11.07	12.40	69.01	142.82

    

    

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	21.1
Financials	13.9
Health care	13.5
Industrials	11.7
Consumer discretionary	9.8
Consumer staples	7.2
Communication services	6.3
Energy	4.9
Utilities	4.3
Materials	4.2
Real estate	3.0
Short-term investments and other	0.1
TOTAL	100.0

Multifactor Mid Cap ETF

AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)

Average annual total returns (%)				Cumulative total returns (%)
	1-Year	5-Year	Since fund inception1	5-year	Since fund inception1
Net asset value	-1.37	8.09	9.98	47.51	105.84
Market price	-1.36	8.08	9.99	47.50	105.94
John Hancock Dimensional Mid Cap Index2	-0.99	8.51	10.43	50.41	112.35
Russell Midcap Index3	-1.69	7.97	9.66	46.75	101.36

    

    

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)
Industrials	18.3
Financials	13.7
Information technology	13.0
Consumer discretionary	12.6
Health care	11.8
Materials	6.6
Utilities	5.9
Real estate	5.2
Energy	4.8
Consumer staples	4.7
Communication services	3.2
Short-term investments and other	0.2
TOTAL	100.0

Multifactor Small Cap ETF

AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)

Average annual total returns (%)				Cumulative total returns (%)
	1-Year	5-Year	Since fund inception1	5-year	Since fund inception1
Net asset value	-0.06	5.42	5.46	30.19	33.79
Market price	-0.03	5.41	5.46	30.12	33.82
John Hancock Dimensional Small Cap Index2	0.37	5.85	5.90	32.86	36.87
Russell 2000 Index3	-3.65	4.15	4.69	22.55	28.55

    

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	21.1
Financials	16.1
Information technology	12.7
Consumer discretionary	12.2
Health care	10.0
Materials	6.8
Energy	6.1
Real estate	5.4
Utilities	4.0
Consumer staples	3.5
Communication services	2.0
Short-term investments and other	0.1
TOTAL	100.0

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 November 1, 2022, with the same investment held until April 30, 2023.

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 April 30, 2023, 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 November 1, 2022, with the same investment held until April 30, 2023. 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 11-1-2022	Ending value on 4-30-2023	Expenses paid during 4-30-20231	Annualized expense ratio
Multifactor Developed International ETF
Actual expenses/actual returns	$1,000.00	$1,240.80	$2.17	0.39%
Hypothetical example for comparison purposes	1,000.00	1,022.90	1.96	0.39%
Multifactor Emerging Markets ETF
Actual expenses/actual returns	$1,000.00	$1,158.00	$2.62	0.49%
Hypothetical example for comparison purposes	1,000.00	1,022.40	2.46	0.49%
Multifactor Large Cap ETF
Actual expenses/actual returns	$1,000.00	$1,067.70	$1.49	0.29%
Hypothetical example for comparison purposes	1,000.00	1,023.40	1.45	0.29%
Multifactor Mid Cap ETF
Actual expenses/actual returns	$1,000.00	$1,031.40	$2.12	0.42%
Hypothetical example for comparison purposes	1,000.00	1,022.70	2.11	0.42%

ANNUAL | JOHN HANCOCK MULTIFACTOR ETFS

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SHAREHOLDER EXPENSE EXAMPLE CHART  (continued)

	Account value on 11-1-2022	Ending value on 4-30-2023	Expenses paid during 4-30-20231	Annualized expense ratio
Multifactor Small Cap ETF
Actual expenses/actual returns	$1,000.00	$1,021.90	$2.11	0.42%
Hypothetical example for comparison purposes	1,000.00	1,022.70	2.11	0.42%

    

1	Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

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JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL

Funds’ investments

MULTIFACTOR DEVELOPED INTERNATIONAL ETF

As of 4-30-23

	Shares or Principal Amount	Value
COMMON STOCKS - 98.1%		$477,282,788
(Cost $431,067,568)
Australia - 7.1%		34,464,489
Ampol, Ltd.	26,274	519,680
ANZ Group Holdings, Ltd.	66,083	1,063,387
APA Group	79,705	541,479
Aristocrat Leisure, Ltd.	16,199	405,831
ASX, Ltd.	4,917	222,486
Atlas Arteria, Ltd.	22,046	95,282
BHP Group, Ltd.	97,605	2,863,900
BlueScope Steel, Ltd.	58,977	774,432
Brambles, Ltd.	88,045	829,130
carsales.com, Ltd.	15,086	236,877
Cochlear, Ltd.	4,106	669,245
Coles Group, Ltd.	29,875	359,321
Commonwealth Bank of Australia	34,338	2,254,703
Computershare, Ltd.	34,724	514,021
CSL, Ltd.	9,596	1,906,133
Dexus	26,157	134,484
EBOS Group, Ltd.	1,843	50,428
Endeavour Group, Ltd.	81,157	364,165
Fortescue Metals Group, Ltd.	74,706	1,033,796
Goodman Group	24,092	307,438
IDP Education, Ltd.	9,153	170,333
IGO, Ltd.	62,027	563,620
Insurance Australia Group, Ltd.	153,337	504,637
Macquarie Group, Ltd.	7,088	855,317
Medibank Private, Ltd.	207,855	489,005
Mineral Resources, Ltd.	10,207	496,993
Mirvac Group	96,355	153,460
National Australia Bank, Ltd.	61,920	1,180,128
Newcrest Mining, Ltd.	14,141	270,260
Northern Star Resources, Ltd.	72,103	641,359
Origin Energy, Ltd.	112,676	621,012
Pilbara Minerals, Ltd.	145,556	407,848
Qantas Airways, Ltd. (A)	32,351	141,102
QBE Insurance Group, Ltd.	97,300	985,730
Ramsay Health Care, Ltd.	12,135	518,615
REA Group, Ltd.	3,128	291,239
Reece, Ltd.	16,309	196,479
Rio Tinto, Ltd.	15,776	1,170,270
Santos, Ltd.	129,853	606,700
Scentre Group	124,121	236,233
SEEK, Ltd.	9,325	150,486
Sonic Healthcare, Ltd.	57,637	1,349,888
South32, Ltd.	102,952	288,472
Stockland	70,689	207,881
Suncorp Group, Ltd.	81,865	675,174
Telstra Corp., Ltd.	106,527	307,641
The GPT Group	52,016	151,593
The Lottery Corp., Ltd.	141,385	470,909

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Australia (continued)
TPG Telecom, Ltd.	24,809	$88,041
Transurban Group	35,739	354,036
Treasury Wine Estates, Ltd.	48,051	442,340
Vicinity, Ltd.	106,675	148,042
Wesfarmers, Ltd.	21,773	747,780
Westpac Banking Corp.	81,281	1,206,966
WiseTech Global, Ltd.	7,837	355,078
Woodside Energy Group, Ltd.	44,397	988,163
Woolworths Group, Ltd.	31,165	799,719
Yancoal Australia, Ltd. (B)	23,330	85,722
Austria - 0.2%		1,065,363
ANDRITZ AG	2,022	131,370
BAWAG Group AG (A)(C)	753	36,711
Erste Group Bank AG	6,419	233,219
EVN AG	1,309	31,576
OMV AG	5,649	267,172
Raiffeisen Bank International AG (A)	3,797	58,309
Strabag SE, Bearer Shares	378	16,505
Telekom Austria AG (A)	2,770	21,651
Verbund AG	973	86,902
voestalpine AG	5,252	181,948
Belgium - 1.0%		4,661,842
Ackermans & van Haaren NV	2,191	386,051
Ageas SA/NV	23,791	1,060,854
Anheuser-Busch InBev SA/NV	23,578	1,538,380
D’ieteren Group	387	72,846
Elia Group SA/NV (B)	355	48,755
KBC Group NV	11,042	789,692
Solvay SA	3,119	374,812
UCB SA	1,222	113,890
Umicore SA	5,260	172,818
Warehouses De Pauw CVA	3,465	103,744
Chile - 0.1%		277,595
Antofagasta PLC	15,122	277,595
Denmark - 3.1%		14,975,995
AP Moller - Maersk A/S, Series A	83	148,142
AP Moller - Maersk A/S, Series B	98	177,019
Carlsberg A/S, Class B	6,525	1,080,042
Coloplast A/S, B Shares	7,042	1,014,896
Danske Bank A/S (A)	44,197	933,195
DSV A/S	5,016	943,941
Genmab A/S (A)	4,516	1,859,565
Novo Nordisk A/S, B Shares	34,655	5,772,668
Novozymes A/S, B Shares	14,908	775,950
Orsted A/S (C)	5,162	463,802
Tryg A/S	21,120	498,962
Vestas Wind Systems A/S (A)	47,353	1,307,813

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Finland - 1.3%		$6,491,941
Elisa OYJ	9,501	590,746
Fortum OYJ	27,208	406,409
Kesko OYJ, A Shares	8,665	180,035
Kesko OYJ, B Shares	18,102	377,809
Kone OYJ, Class B	10,208	582,640
Metso Outotec OYJ	46,275	510,876
Neste OYJ	11,187	542,679
Nokia OYJ	135,708	575,615
Nordea Bank ABP	72,981	809,739
Orion OYJ, Class A	1,368	64,262
Orion OYJ, Class B	6,726	316,475
Sampo OYJ, A Shares	8,375	424,946
Stora Enso OYJ, R Shares	56,247	714,112
UPM-Kymmene OYJ	12,399	395,598
France - 11.5%		56,005,244
Air Liquide SA	6,154	1,108,648
Airbus SE	13,279	1,863,875
AXA SA	50,151	1,637,194
BNP Paribas SA	25,384	1,641,923
Capgemini SE	9,527	1,734,387
Cie de Saint-Gobain	35,122	2,032,569
Cie Generale des Etablissements Michelin SCA (B)	62,897	2,001,906
Credit Agricole SA	101,140	1,237,624
Danone SA	41,581	2,753,867
Dassault Systemes SE	18,194	736,560
Engie SA (B)	143,194	2,294,779
EssilorLuxottica SA	5,926	1,173,689
Hermes International	655	1,422,233
Kering SA	1,420	908,784
Legrand SA	11,174	1,057,204
L’Oreal SA	4,314	2,061,040
LVMH Moet Hennessy Louis Vuitton SE	5,370	5,163,707
Orange SA	294,400	3,840,408
Pernod Ricard SA	10,424	2,409,796
Safran SA	14,780	2,299,735
Sanofi	21,721	2,397,999
Sartorius Stedim Biotech	1,124	300,917
Schneider Electric SE	9,049	1,576,637
Societe Generale SA	57,146	1,389,539
Thales SA	4,640	708,962
TotalEnergies SE	108,695	6,952,759
Vinci SA (B)	26,629	3,298,503
Germany - 7.2%		35,262,788
adidas AG	3,873	681,732
Allianz SE	9,664	2,426,677
BASF SE	24,311	1,257,423
Bayer AG	43,276	2,855,136
Bayerische Motoren Werke AG	7,361	824,357
Beiersdorf AG	4,223	590,234

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Germany (continued)
Carl Zeiss Meditec AG, Bearer Shares	1,597	$214,744
Commerzbank AG (A)	35,380	393,134
Continental AG	9,713	680,062
Daimler Truck Holding AG (A)	23,948	791,572
Deutsche Bank AG	141,019	1,547,976
Deutsche Boerse AG	5,078	969,297
Deutsche Post AG	22,845	1,097,613
Deutsche Telekom AG	108,240	2,614,594
E.ON SE	285,507	3,783,973
Fresenius SE & Company KGaA	39,713	1,149,568
Hannover Rueck SE	2,603	556,351
Hapag-Lloyd AG (C)	900	279,400
HeidelbergCement AG	5,063	383,220
Henkel AG & Company KGaA	5,522	408,451
Infineon Technologies AG	19,763	717,933
Mercedes-Benz Group AG	39,695	3,093,047
Merck KGaA	1,476	264,876
MTU Aero Engines AG	799	209,674
Muenchener Rueckversicherungs-Gesellschaft AG	1,643	617,623
RWE AG	23,737	1,115,050
SAP SE	10,916	1,480,618
Siemens AG	12,050	1,980,847
Siemens Energy AG (A)	25,533	625,219
Siemens Healthineers AG (C)	3,141	195,646
Symrise AG	5,894	712,189
Vantage Towers AG	8	287
Volkswagen AG	1,575	264,211
Vonovia SE	22,157	480,054
Hong Kong - 2.2%		10,694,398
AIA Group, Ltd.	317,524	3,436,179
BOC Hong Kong Holdings, Ltd.	91,295	287,263
Budweiser Brewing Company APAC, Ltd. (C)	31,600	90,977
Chow Tai Fook Jewellery Group, Ltd.	138,200	276,404
CK Asset Holdings, Ltd.	95,469	563,092
CK Hutchison Holdings, Ltd.	70,773	473,329
CK Infrastructure Holdings, Ltd.	42,929	243,905
CLP Holdings, Ltd.	46,571	346,469
Galaxy Entertainment Group, Ltd. (A)	22,641	160,075
Hang Seng Bank, Ltd.	18,989	280,847
Henderson Land Development Company, Ltd.	88,398	314,183
Hong Kong & China Gas Company, Ltd.	108,065	95,814
Hong Kong Exchanges & Clearing, Ltd.	28,125	1,160,843
Link REIT	69,652	454,297
MTR Corp., Ltd.	40,913	204,046
Power Assets Holdings, Ltd.	94,573	539,736
Sun Hung Kai Properties, Ltd.	39,662	550,728
Swire Properties, Ltd.	70,601	189,321
Techtronic Industries Company, Ltd.	42,077	452,401
Wharf Real Estate Investment Company, Ltd.	99,993	574,489

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Ireland - 1.1%		$5,104,597
Bank of Ireland Group PLC	35,925	371,625
CRH PLC	33,634	1,625,636
Experian PLC	44,199	1,561,060
Flutter Entertainment PLC (A)	2,468	493,438
James Hardie Industries PLC, CHESS Depositary Interest	11,242	248,806
Kerry Group PLC, Class A	1,690	178,068
Kingspan Group PLC	9,043	625,964
Israel - 0.4%		1,725,763
Azrieli Group, Ltd.	397	22,926
Bank Hapoalim BM	41,402	352,602
Bank Leumi Le-Israel BM	60,585	474,490
CyberArk Software, Ltd. (A)	320	39,872
Elbit Systems, Ltd.	299	54,933
ICL Group, Ltd.	19,207	117,520
Israel Discount Bank, Ltd., Class A	34,071	167,242
Mizrahi Tefahot Bank, Ltd.	5,265	170,845
Nice, Ltd. (A)	653	133,816
Teva Pharmaceutical Industries, Ltd. (A)	17,937	149,210
Wix.com, Ltd. (A)	485	42,307
Italy - 2.3%		11,223,796
Amplifon SpA	6,808	250,134
Assicurazioni Generali SpA	16,166	336,956
Banca Mediolanum SpA	5,349	48,388
Davide Campari-Milano NV	23,132	298,281
DiaSorin SpA	1,334	145,035
Enel SpA	163,718	1,120,436
Eni SpA	113,658	1,724,827
Ferrari NV	2,944	820,020
FinecoBank Banca Fineco SpA	28,661	434,441
Infrastrutture Wireless Italiane SpA (C)	12,454	173,171
Intesa Sanpaolo SpA	361,746	952,292
Mediobanca Banca di Credito Finanziario SpA	58,928	633,000
Moncler SpA	12,483	925,548
Nexi SpA (A)(C)	6,274	51,990
Poste Italiane SpA (B)(C)	27,311	284,207
PRADA SpA	31,900	234,072
Prysmian SpA	9,933	406,511
Recordati Industria Chimica e Farmaceutica SpA	6,879	316,915
Snam SpA	60,836	338,501
Telecom Italia SpA (A)(B)	318,770	93,928
Terna - Rete Elettrica Nazionale	60,636	526,165
UniCredit SpA (B)	50,073	991,734
UnipolSai Assicurazioni SpA (B)	43,560	117,244
Japan - 22.6%		110,104,749
Advantest Corp.	5,400	417,993
Aeon Company, Ltd.	17,500	355,681
AGC, Inc.	26,900	997,650
Aisin Corp.	15,500	452,484

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Japan (continued)
Ajinomoto Company, Inc.	12,100	$434,095
ANA Holdings, Inc. (A)	8,800	191,136
Asahi Group Holdings, Ltd.	8,900	342,692
Asahi Intecc Company, Ltd.	8,900	159,744
Asahi Kasei Corp.	72,900	512,733
Astellas Pharma, Inc.	19,100	287,275
Bandai Namco Holdings, Inc.	13,503	305,234
BayCurrent Consulting, Inc.	7,500	259,153
Bridgestone Corp.	26,600	1,062,320
Canon, Inc.	20,700	492,245
Capcom Company, Ltd.	10,500	394,044
Central Japan Railway Company	4,444	549,768
Chubu Electric Power Company, Inc.	45,000	502,001
Chugai Pharmaceutical Company, Ltd.	12,200	313,949
Concordia Financial Group, Ltd.	74,300	279,924
CyberAgent, Inc.	26,100	226,373
Dai Nippon Printing Company, Ltd.	18,824	539,152
Daifuku Company, Ltd.	19,500	356,589
Dai-ichi Life Holdings, Inc.	26,900	496,751
Daiichi Sankyo Company, Ltd.	19,400	662,078
Daikin Industries, Ltd.	5,447	984,872
Daito Trust Construction Company, Ltd.	3,886	367,296
Daiwa House Industry Company, Ltd.	28,100	713,412
Daiwa House REIT Investment Corp.	51	108,431
Daiwa Securities Group, Inc.	90,800	419,441
Denso Corp.	9,600	574,668
Dentsu Group, Inc. (B)	17,700	633,698
Disco Corp.	5,694	644,399
East Japan Railway Company	8,600	492,890
Eisai Company, Ltd.	2,572	147,956
ENEOS Holdings, Inc.	316,200	1,119,292
FANUC Corp.	9,350	315,111
Fast Retailing Company, Ltd.	3,957	930,221
Fuji Electric Company, Ltd.	11,493	460,007
FUJIFILM Holdings Corp.	9,700	502,934
Fujitsu, Ltd.	3,300	437,690
GLP J-REIT	101	115,342
GMO Payment Gateway, Inc.	2,800	217,765
Hakuhodo DY Holdings, Inc.	11,600	135,879
Hamamatsu Photonics KK	8,400	442,933
Hankyu Hanshin Holdings, Inc.	19,600	609,599
Hikari Tsushin, Inc.	541	73,423
Hirose Electric Company, Ltd.	1,005	134,920
Hitachi Construction Machinery Company, Ltd.	7,800	190,754
Hitachi, Ltd.	40,600	2,231,785
Honda Motor Company, Ltd.	43,654	1,150,300
Hoshizaki Corp.	4,200	147,439
Hoya Corp.	10,000	1,043,587
Hulic Company, Ltd.	57,100	489,375
Ibiden Company, Ltd.	5,200	203,165
Idemitsu Kosan Company, Ltd.	29,159	617,165

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Japan (continued)
Iida Group Holdings Company, Ltd.	9,000	$159,292
Inpex Corp.	47,000	508,435
Isuzu Motors, Ltd.	81,800	955,780
ITOCHU Corp.	67,100	2,213,588
Itochu Techno-Solutions Corp.	5,500	141,978
Japan Airlines Company, Ltd.	14,200	269,682
Japan Exchange Group, Inc.	28,000	452,290
Japan Metropolitan Fund Investment Corp.	155	113,263
Japan Post Bank Company, Ltd. (B)	8,000	63,746
Japan Post Holdings Company, Ltd.	39,700	325,962
Japan Post Insurance Company, Ltd.	11,900	192,179
Japan Real Estate Investment Corp.	37	146,462
Japan Tobacco, Inc.	49,800	1,069,220
JFE Holdings, Inc.	66,800	785,911
JSR Corp.	7,900	182,176
Kajima Corp.	35,400	466,662
Kao Corp.	12,700	513,447
Kawasaki Kisen Kaisha, Ltd. (B)	9,000	213,161
KDDI Corp.	38,300	1,194,862
Keio Corp.	4,370	161,751
Keisei Electric Railway Company, Ltd.	7,300	257,067
Keyence Corp.	2,770	1,242,955
Kikkoman Corp.	1,500	88,459
Kintetsu Group Holdings Company, Ltd.	7,000	235,964
Kirin Holdings Company, Ltd.	8,000	129,784
Kobayashi Pharmaceutical Company, Ltd.	1,100	68,505
Kobe Bussan Company, Ltd.	8,800	245,908
Koei Tecmo Holdings Company, Ltd. (B)	5,900	108,238
Koito Manufacturing Company, Ltd.	11,800	226,615
Komatsu, Ltd.	40,200	987,249
Konami Group Corp.	5,800	284,963
Kose Corp.	1,000	116,109
Kubota Corp.	22,600	339,917
Kyocera Corp.	8,100	423,010
Kyowa Kirin Company, Ltd.	5,300	117,549
Lasertec Corp.	2,000	270,260
Lixil Corp.	27,400	429,015
M3, Inc.	10,200	248,698
Makita Corp.	2,500	70,136
Marubeni Corp.	45,000	634,524
MatsukiyoCocokara & Company	2,800	149,495
Mazda Motor Corp.	49,200	438,650
MEIJI Holdings Company, Ltd.	25,200	607,954
MINEBEA MITSUMI, Inc.	34,200	627,915
MISUMI Group, Inc.	17,200	430,742
Mitsubishi Chemical Group Corp.	163,100	951,661
Mitsubishi Corp.	31,300	1,153,479
Mitsubishi Electric Corp.	36,600	451,301
Mitsubishi Estate Company, Ltd.	21,900	268,915
Mitsubishi HC Capital, Inc.	104,600	540,803
Mitsubishi Heavy Industries, Ltd.	15,300	576,089

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Japan (continued)
Mitsubishi Motors Corp. (A)	57,700	$218,232
Mitsubishi UFJ Financial Group, Inc.	281,670	1,764,303
Mitsui & Company, Ltd.	34,800	1,080,815
Mitsui Chemicals, Inc.	21,700	544,233
Mitsui Fudosan Company, Ltd.	17,600	347,825
Mitsui O.S.K. Lines, Ltd. (B)	22,400	552,741
Mizuho Financial Group, Inc.	49,900	720,108
MonotaRO Company, Ltd.	13,200	198,536
MS&AD Insurance Group Holdings, Inc.	11,400	372,144
Murata Manufacturing Company, Ltd.	11,500	665,516
NEC Corp.	16,103	616,139
Nexon Company, Ltd.	3,800	85,675
NGK Insulators, Ltd.	15,700	196,012
Nidec Corp.	8,900	438,186
Nintendo Company, Ltd.	20,970	881,059
Nippon Building Fund, Inc.	38	159,072
Nippon Express Holdings, Inc.	9,800	572,893
Nippon Paint Holdings Company, Ltd.	10,500	94,308
Nippon Sanso Holdings Corp.	15,100	270,583
Nippon Steel Corp.	38,300	813,733
Nippon Telegraph & Telephone Corp.	33,966	1,034,957
Nippon Yusen KK (B)	14,500	341,083
Nissan Chemical Corp.	8,300	366,952
Nissan Motor Company, Ltd.	61,500	222,306
Nissin Foods Holdings Company, Ltd.	2,316	223,155
Nitori Holdings Company, Ltd.	2,201	280,692
Nitto Denko Corp.	17,194	1,106,154
Nomura Holdings, Inc.	86,900	310,100
Nomura Real Estate Master Fund, Inc.	119	139,044
Nomura Research Institute, Ltd.	9,700	243,631
NTT Data Corp.	15,900	214,740
Obayashi Corp.	52,600	437,287
Obic Company, Ltd.	1,100	168,920
Odakyu Electric Railway Company, Ltd.	13,600	189,570
Oji Holdings Corp.	75,600	295,926
Olympus Corp.	29,800	518,132
Omron Corp.	3,700	215,807
Ono Pharmaceutical Company, Ltd.	6,965	140,359
Oracle Corp. Japan	1,700	121,727
Oriental Land Company, Ltd.	10,000	352,440
ORIX Corp.	32,100	542,210
Osaka Gas Company, Ltd.	34,900	577,715
Otsuka Corp.	7,400	268,197
Otsuka Holdings Company, Ltd.	8,200	277,077
Pan Pacific International Holdings Corp.	21,800	405,693
Panasonic Holdings Corp.	85,804	802,493
Rakuten Group, Inc.	9,300	46,102
Recruit Holdings Company, Ltd.	24,000	674,006
Renesas Electronics Corp. (A)	22,900	298,012
Resona Holdings, Inc.	68,600	339,914
Ricoh Company, Ltd.	37,400	307,901

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Japan (continued)
Rohm Company, Ltd.	5,700	$426,145
SBI Holdings, Inc.	21,900	425,728
SCSK Corp.	8,100	121,829
Secom Company, Ltd.	2,261	144,429
Seiko Epson Corp.	42,600	647,924
Sekisui Chemical Company, Ltd.	52,400	742,717
Sekisui House, Ltd.	17,200	352,425
Seven & i Holdings Company, Ltd.	19,600	884,530
SG Holdings Company, Ltd.	18,500	265,479
Sharp Corp.	11,600	82,294
Shimadzu Corp.	18,900	587,133
Shimano, Inc.	1,286	198,522
Shimizu Corp.	46,400	282,493
Shin-Etsu Chemical Company, Ltd.	32,490	921,741
Shionogi & Company, Ltd.	3,071	136,968
Shiseido Company, Ltd.	6,177	308,521
SMC Corp.	645	320,925
SoftBank Corp.	51,900	583,739
SoftBank Group Corp.	27,436	1,026,394
Sompo Holdings, Inc.	9,100	377,794
Sony Group Corp.	23,800	2,242,529
Square Enix Holdings Company, Ltd.	4,000	196,233
Subaru Corp.	54,200	873,712
SUMCO Corp.	16,900	231,473
Sumitomo Chemical Company, Ltd.	144,500	486,035
Sumitomo Corp.	28,400	506,201
Sumitomo Electric Industries, Ltd.	48,300	611,532
Sumitomo Metal Mining Company, Ltd.	25,200	927,014
Sumitomo Mitsui Financial Group, Inc.	31,200	1,271,463
Sumitomo Mitsui Trust Holdings, Inc.	8,875	318,657
Sumitomo Realty & Development Company, Ltd.	13,900	322,579
Suntory Beverage & Food, Ltd.	7,800	292,718
Suzuki Motor Corp.	15,600	538,350
Sysmex Corp.	7,248	463,416
T&D Holdings, Inc.	38,700	470,090
Taisei Corp.	15,561	527,404
Taiyo Yuden Company, Ltd.	5,100	155,062
Takeda Pharmaceutical Company, Ltd.	43,147	1,429,731
TDK Corp.	17,700	603,801
Terumo Corp.	7,900	235,320
The Chiba Bank, Ltd.	61,400	398,165
The Kansai Electric Power Company, Inc.	76,800	829,112
TIS, Inc.	12,800	349,693
Tobu Railway Company, Ltd.	8,100	206,121
Toho Company, Ltd.	4,200	166,254
Tokio Marine Holdings, Inc.	38,200	763,074
Tokyo Century Corp.	5,300	180,994
Tokyo Electric Power Company Holdings, Inc. (A)	65,300	233,548
Tokyo Electron, Ltd.	9,171	1,043,621

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
Japan (continued)
Tokyo Gas Company, Ltd.	55,200	$1,131,445
Tokyu Corp.	33,800	476,102
Toppan, Inc.	21,300	450,825
Toray Industries, Inc.	137,100	772,972
Toshiba Corp.	4,800	155,106
Tosoh Corp.	21,000	279,301
TOTO, Ltd.	7,100	242,202
Toyo Suisan Kaisha, Ltd.	1,500	66,867
Toyota Industries Corp.	4,000	230,603
Toyota Motor Corp.	236,640	3,227,265
Toyota Tsusho Corp.	10,300	424,360
Trend Micro, Inc.	9,100	442,419
Unicharm Corp.	10,300	414,224
USS Company, Ltd.	15,400	257,637
Welcia Holdings Company, Ltd.	4,700	98,235
West Japan Railway Company	13,981	604,870
Yakult Honsha Company, Ltd.	3,500	262,953
Yamaha Corp.	4,766	186,559
Yamaha Motor Company, Ltd.	43,100	1,107,847
Yamato Holdings Company, Ltd.	28,300	485,089
Yaskawa Electric Corp.	14,900	602,938
Z Holdings Corp.	43,700	118,938
ZOZO, Inc.	9,600	201,356
Luxembourg - 0.3%		1,380,782
ArcelorMittal SA	43,341	1,230,184
Tenaris SA	10,453	150,598
Macau - 0.0%		100,758
Sands China, Ltd. (A)	28,400	100,758
Malaysia - 0.0%		205,312
Lynas Rare Earths, Ltd. (A)	48,317	205,312
Mexico - 0.0%		86,796
Fresnillo PLC	9,707	86,796
Netherlands - 4.4%		21,290,104
ABN AMRO Bank NV (C)	31,967	512,257
Adyen NV (A)(C)	288	461,666
Argenx SE (A)	489	188,248
Argenx SE, Additional Offering (A)	3	1,155
ASM International NV	2,806	1,016,241
ASML Holding NV (B)	8,467	5,360,831
Heineken Holding NV	8,982	862,207
Heineken NV (B)	5,155	592,161
ING Groep NV (B)	90,250	1,115,923
JDE Peet’s NV	4,886	148,878
Koninklijke Ahold Delhaize NV	79,701	2,747,045
Prosus NV (A)	13,799	1,033,938
Stellantis NV (B)	121,995	2,020,237
Universal Music Group NV	28,847	630,891
Wolters Kluwer NV	34,667	4,598,426

MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)

	Shares or Principal Amount	Value
New Zealand - 0.2%		$795,577
Auckland International Airport, Ltd. (A)	20,691	112,973
Contact Energy, Ltd.	10,302	49,823
Fisher & Paykel Healthcare Corp., Ltd.	9,750	166,691
Infratil, Ltd.	9,234	54,467
Mainfreight, Ltd.	1,182	52,345
Mercury NZ, Ltd.	5,448	21,334
Meridian Energy, Ltd.	28,304	95,452
Spark New Zealand, Ltd.	46,826	151,262
Xero, Ltd. (A)	1,479	91,230
Norway - 0.5%		2,597,926
Adevinta ASA (A)