Active semi-transparent ETFs

¹ Available as a mutual fund.

These ETFs are different from traditional ETFs 
These Funds are actively managed, semi-transparent exchange-traded funds (“ETFs”). Unlike traditional ETFs that typically publish their portfolio holdings on a daily basis, these Funds do not publish the daily holdings of their actual portfolio (the “Actual Portfolio”). Instead, these Funds disclose the daily holdings of a portfolio transparency substitute (the “Proxy Portfolio”), which is designed by the Funds’ sub-advisers to (i) reflect the economic exposure and risk characteristics of the Actual Portfolio on any given trading day, (ii) allow for the efficient trading of Fund shares by authorized participants (“Authorized Participants”), and (iii) shield the identity of the Funds’ full daily portfolio holdings. The Proxy Portfolio includes some of the Actual Portfolio holdings, but there is no required minimum overlap of holdings between the Proxy Portfolio and the Actual Portfolio. In addition, each Fund publishes certain information metrics related to the Fund’s Proxy Portfolio (the “Proxy Portfolio Disclosures”). This information is provided by the Fund to help keep the market price of Fund shares trading at or close to the underlying net asset value (“NAV”) per share of the Fund.

Exchange Traded Funds (ETFs) may not be marketed or advertised as an open-end investment company or mutual fund. Shares of ETFs are bought and sold at market price as opposed to net asset value. As a result, an investor may pay more than net asset value when buying and receive less than net asset value when selling. In addition, brokerage commissions will reduce returns. Fund shares are not individually redeemable directly with the Fund, but blocks of shares may be acquired from the Fund and tendered for redemption to the Fund by certain institutional investors in Creation Units.

Impact investing and/or Environmental, Social and Governance (ESG) managers may take into consideration factors beyond traditional financial information to select securities, which could result in relative investment performance deviating from other strategies or broad market benchmarks, depending on whether such sectors or investments are in or out of favor in the market. Further, ESG strategies may rely on certain values based criteria to eliminate exposures found in similar strategies or broad market benchmarks, which could also result in relative investment performance deviating.

Important information on risk

Past performance is no guarantee of future results. All investments carry a certain degree of risk, including the possible loss of principal, and there is no assurance that an investment will provide positive performance over any period of time. Certain products and services may not be available to all entities or persons. There is no guarantee that a Strategy’s investment objectives will be achieved.

Nuveen Dividend Growth ETF: Nuveen Fund Advisors, LLC serves as the Fund’s adviser and Santa Barbara Asset Management, LLC serves as the Fund’s sub-adviser; both the adviser and sub-adviser are subsidiaries of Nuveen, LLC. Nuveen Securities, LLC, member FINRA and SIPC.
Nuveen Small Cap Select ETF: Nuveen Fund Advisors, LLC serves as the Fund’s adviser and Nuveen Asset Management, LLC serves as the Fund’s sub-adviser; both the adviser and sub-adviser are subsidiaries of Nuveen, LLC. Nuveen Securities, LLC, member FINRA and SIPC.
Nuveen Winslow Large-Cap Growth ESG ETF: Nuveen Fund Advisors, LLC serves as the Fund’s adviser and Winslow Capital Management, LLC serves as the Fund’s sub-adviser; both the adviser and sub-adviser are subsidiaries of Nuveen, LLC. Nuveen Securities, LLC, member FINRA and SIPC.