# EDGAR Filing Document

**Accession Number:** 0001870130
**File Stem:** 0001193125-26-031069
**Filing Date:** 2026-1
**Character Count:** 276007
**Document Hash:** 33cc0df548c086b823a9e7126f4d1695
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-031069.hdr.sgml**: 20260130

**ACCESSION NUMBER**: 0001193125-26-031069

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260130

**DATE AS OF CHANGE**: 20260130

**EFFECTIVENESS DATE**: 20260130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capital Group International Focus Equity ETF
- **CENTRAL INDEX KEY:** 0001870130

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23734
- **FILM NUMBER:** 26581429

**BUSINESS ADDRESS:**
- **STREET 1:** 6455 IRVINE CENTER DRIVE
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92618
- **BUSINESS PHONE:** (213) 486-9200

**MAIL ADDRESS:**
- **STREET 1:** 333 SOUTH HOPE STREET, 55TH FLOOR
- **CITY:** LOS ANGELES
- **STATE:** CA
- **ZIP:** 90071

## Series and Classes Contracts Data

### Capital Group International Focus Equity ETF (Series ID: S000074248)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000231857 | Share Class  | CGXU            |

?xml version='1.0' encoding='ASCII'? 305dc09f-7787-4b31-9c5a-666e60ea5b1d

#### UNITED STATES

#### SECURITIES AND EXCHANGE COMMISSION

#### Washington, D.C. 20549

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#### FORM N-CSR

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#### CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

#### Investment Company Act file number

#### 811-23734

#### Capital Group International Focus Equity ETF
(Exact name of registrant as specified in charter)

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6455 Irvine Center Drive

Irvine, California 92618

(Address of principal executive offices)

Sandra Chuon

6455 Irvine Center Drive

Irvine, California 92618

(Name and address of agent for service)

#### Registrant's telephone number, including area code:
&nbsp;&nbsp;&nbsp;&nbsp;(949) 975-5000

#### Date of fiscal year end:

#### May 31

#### Date of reporting period:

#### November 30, 2025
ITEM 1 - Reports to Stockholders

![TSR - Capital no AF Logo](images_2381.jpg)

SEMI-ANNUAL SHAREHOLDER REPORT

## Capital Group International Focus Equity ETF
**CGXU** for the six months ended November 30, 2025

Stock Exchange: **NYSE Arca, Inc.**

This semi-annual shareholder report contains important information about Capital Group International Focus Equity ETF (the "fund") for the period from June 1, 2025 to November 30, 2025. You can find additional information about the fund at

capitalgroup.com/ETF-literature. You can also request this information by contacting us at (800) 421-4225.

**What were the fund costs for the last six months?** (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**Cost of $10,000 Investment** | **Costs paid as a percentage of a $10,000 investment** |
| &nbsp;&nbsp;CGXU | &nbsp;&nbsp;$29 | 0.54%\* |

---

\*Annualized.

Key fund statistics

---

| | |
|:---|:---|
| Fund net assets (in millions) | $4305 |
| Total number of portfolio holdings | 72 |
| Portfolio turnover rate | 21% |

---

**Portfolio holdings by sector** (percent of net assets)

#### Changes in and disagreements with accountants
On July 3, 2025, PricewaterhouseCoopers LLP ("PwC") was dismissed and Deloitte & Touche LLP was appointed as the fund's independent registered public accounting firm for the fiscal year ending May 31, 2026 audit. The change in the fund's independent registered public accounting firm was approved by the fund's board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations. At no point during the fund's fiscal years ended May 31, 2024 and May 31, 2025 and the subsequent interim period through July 14, 2025, were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure.

Availability of additional information

Additional information about the fund, including its prospectus, financial information, holdings, and proxy voting information is available at

capitalgroup.com/ETF-literature.

#### Important information
To reduce fund expenses, only one copy of most shareholder documents will be mailed to shareholders with multiple accounts at the same address (householding). If you would prefer that your documents not be householded, please contact Capital Group at (800) 421-4225, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Capital Group or your financial intermediary.

Lit. No. ETMXSRX-303-0126© 2026 Capital Group. All rights reserved.

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#### ITEM 2 - Code of Ethics
Not applicable for filing of semi-annual reports to shareholders.

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#### ITEM 3 - Audit Committee Financial Expert
Not applicable for filing of semi-annual reports to shareholders.

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#### ITEM 4 - Principal Accountant Fees and Services
Not applicable for filing of semi-annual reports to shareholders.

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#### ITEM 5 - Audit Committee of Listed Registrants
Not applicable for filing of semi-annual reports to shareholders.

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#### ITEM 6 - Investments
The schedule of investments is included as part of the material filed under Item 7 of this Form.

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#### ITEM 7 - Financial Statements and Financial Highlights for Open-End Management Investment Companies

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![](img228c8d591.jpg)

**Capital Group Equity Exchange-Traded Funds**

Financial Statements and Other Information

N-CSR Items 7-11

for the six months ended November 30, 2025

Lit. No. ETGEFP2-349-0126© 2026 Capital Group. All rights reserved.

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Capital Group Conservative Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 97.73% | Shares | Value<br> (000)<br>|
| **Information technology 23.30%** | **Information technology 23.30%** | **Information technology 23.30%** |
| Microsoft Corp.  | 153381 | $75465 |
| Broadcom, Inc.  | 164352 | 66227 |
| Apple, Inc.  | 135980 | 37918 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 58432 | 17033 |
| Accenture PLC, Class A  | 67717 | 16929 |
| Applied Materials, Inc.  | 48720 | 12290 |
| KLA Corp.  | 9055 | 10644 |
| Oracle Corp.  | 42477 | 8578 |
| Texas Instruments, Inc.  | 49687 | 8361 |
| Amphenol Corp., Class A  | 38294 | 5396 |
| Salesforce, Inc.  | 20170 | 4650 |
| Corning, Inc.  | 36949 | 3111 |
|  |  | 266602 |
| **Financials 14.01%** | **Financials 14.01%** | **Financials 14.01%** |
| JPMorgan Chase & Co.  | 87912 | 27523 |
| Wells Fargo & Co.  | 174766 | 15004 |
| Morgan Stanley  | 88288 | 14979 |
| PNC Financial Services Group, Inc.  | 66833 | 12746 |
| Truist Financial Corp.  | 271087 | 12606 |
| Progressive Corp.  | 51455 | 11772 |
| Fidelity National Information Services, Inc.  | 156093 | 10266 |
| Chubb, Ltd.  | 30500 | 9034 |
| Marsh & McLennan Cos., Inc.  | 44685 | 8197 |
| Visa, Inc., Class A  | 22354 | 7476 |
| CME Group, Inc., Class A  | 24478 | 6890 |
| BlackRock, Inc.  | 5615 | 5881 |
| Great-West Lifeco, Inc.  | 120748 | 5599 |
| Blackstone, Inc.  | 29750 | 4356 |
| American International Group, Inc.  | 52948 | 4033 |
| Capital One Financial Corp.  | 18149 | 3976 |
|  |  | 160338 |
| **Industrials 13.81%** | **Industrials 13.81%** | **Industrials 13.81%** |
| RTX Corp.  | 295442 | 51676 |
| General Electric Co.  | 130384 | 38913 |
| Union Pacific Corp.  | 51715 | 11989 |
| Northrop Grumman Corp.  | 16242 | 9294 |
| Automatic Data Processing, Inc.  | 34540 | 8818 |
| Airbus SE, non-registered shares  | 28244 | 6698 |
| Carrier Global Corp.  | 111424 | 6115 |
| Stanley Black & Decker, Inc.  | 74272 | 5312 |
| Paychex, Inc.  | 47109 | 5262 |
| FedEx Corp.  | 14604 | 4026 |
| Illinois Tool Works, Inc.  | 16059 | 4003 |
| L3Harris Technologies, Inc.  | 11533 | 3214 |
| Honeywell International, Inc.  | 13970 | 2685 |
|  |  | 158005 |
| **Health care 12.95%** | **Health care 12.95%** | **Health care 12.95%** |
| Eli Lilly and Co.  | 28361 | 30501 |
| AbbVie, Inc.  | 99655 | 22691 |
| Amgen, Inc.  | 60381 | 20859 |
| Abbott Laboratories  | 131972 | 17011 |
| Medtronic PLC  | 92192 | 9711 |
| UnitedHealth Group, Inc.  | 29362 | 9683 |
| Gilead Sciences, Inc.  | 69980 | 8806 |
| CVS Health Corp.  | 105462 | 8475 |
| Bristol-Myers Squibb Co.  | 110860 | 5454 |
| AstraZeneca PLC (ADR)  | 48219 | 4471 |

---

Capital Group Equity Exchange-Traded Funds<sub>1</sub>

------

Capital Group Conservative Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| GE HealthCare Technologies, Inc.  | 51452 | $4116 |
| Thermo Fisher Scientific, Inc.  | 5428 | 3207 |
| Humana, Inc.  | 12946 | 3182 |
|  |  | 148167 |
| **Consumer staples 7.52%** | **Consumer staples 7.52%** | **Consumer staples 7.52%** |
| Philip Morris International, Inc.  | 148376 | 23366 |
| British American Tobacco PLC (ADR)  | 309268 | 18142 |
| Mondelez International, Inc., Class A  | 309667 | 17827 |
| Coca-Cola Co.  | 131246 | 9597 |
| Procter & Gamble Co.  | 64374 | 9538 |
| Hershey Co.  | 20910 | 3933 |
| PepsiCo, Inc.  | 24379 | 3626 |
|  |  | 86029 |
| **Utilities 7.47%** | **Utilities 7.47%** | **Utilities 7.47%** |
| Constellation Energy Corp.  | 39003 | 14211 |
| NextEra Energy, Inc.  | 128772 | 11112 |
| Sempra  | 112100 | 10618 |
| Atmos Energy Corp.  | 55914 | 9862 |
| Dominion Energy, Inc.  | 152894 | 9597 |
| CenterPoint Energy, Inc.  | 230278 | 9207 |
| DTE Energy Co.  | 57139 | 7830 |
| Public Service Enterprise Group, Inc.  | 54280 | 4533 |
| Southern Co. (The)  | 48522 | 4421 |
| Xcel Energy, Inc.  | 50530 | 4149 |
|  |  | 85540 |
| **Consumer discretionary 4.46%** | **Consumer discretionary 4.46%** | **Consumer discretionary 4.46%** |
| Starbucks Corp.  | 231974 | 20207 |
| Home Depot, Inc.  | 55229 | 19712 |
| Tractor Supply Co.  | 112918 | 6186 |
| McDonald's Corp.  | 15909 | 4961 |
|  |  | 51066 |
| **Communication services 4.23%** | **Communication services 4.23%** | **Communication services 4.23%** |
| Meta Platforms, Inc., Class A  | 31339 | 20306 |
| Alphabet, Inc., Class A  | 40290 | 12900 |
| T-Mobile US, Inc.  | 35123 | 7341 |
| AT&T, Inc.  | 157251 | 4092 |
| Comcast Corp., Class A  | 140943 | 3762 |
|  |  | 48401 |
| **Energy 4.17%** | **Energy 4.17%** | **Energy 4.17%** |
| Exxon Mobil Corp.  | 139307 | 16148 |
| TC Energy Corp. (CAD denominated)  | 137700 | 7441 |
| TC Energy Corp.  | 106279 | 5816 |
| ConocoPhillips  | 101929 | 9040 |
| Baker Hughes Co., Class A  | 103603 | 5201 |
| EOG Resources, Inc.  | 37710 | 4067 |
|  |  | 47713 |

---

---

| | |
|:---|:---|
| **2** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Conservative Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials 3.71%** | **Materials 3.71%** | **Materials 3.71%** |
| International Paper Co.  | 464006 | $18319 |
| Linde PLC  | 29499 | 12104 |
| Air Products and Chemicals, Inc.  | 46009 | 12011 |
|  |  | 42434 |
| **Real estate 2.10%** | **Real estate 2.10%** | **Real estate 2.10%** |
| Welltower, Inc. REIT  | 76797 | 15990 |
| Extra Space Storage, Inc. REIT  | 32754 | 4362 |
| Prologis, Inc. REIT  | 28528 | 3667 |
|  |  | 24019 |
| **Total common stocks** (cost: $1,032,469,000) |  | 1118314 |
| Short-term securities 2.14% |  |  |
| **Money market investments 2.14%** | **Money market investments 2.14%** | **Money market investments 2.14%** |
| Capital Group Central Cash Fund 3.94% <sup>(a)(b)</sup>  | 245050 | 24503 |
| **Total short-term securities** (cost: $24,502,000) |  | 24503 |
| **Total investment securities 99.87%** (cost: $1,056,971,000) |  | 1142817 |
| Other assets less liabilities 0.13% |  | 1454 |
| **Net assets 100.00%** |  | $1144271 |

---

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.14%** | **Short-term securities 2.14%** | **Short-term securities 2.14%** | **Short-term securities 2.14%** | **Short-term securities 2.14%** | **Short-term securities 2.14%** | **Short-term securities 2.14%** | **Short-term securities 2.14%** |
| **Money market investments 2.14%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(a)</sup> | $20709 | &nbsp;&nbsp; $56971 | &nbsp;&nbsp; $53173 | &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $24503 | &nbsp;&nbsp; $452 |

---

<sup>(a)</sup> Rate represents the seven-day yield at 11/30/2025. <br> <sup>(b)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

Capital Group Equity Exchange-Traded Funds<sub>3</sub>

------

Capital Group Core Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 97.31% | Shares | Value<br> (000)<br>|
| **Information technology 30.80%** | **Information technology 30.80%** | **Information technology 30.80%** |
| Microsoft Corp.  | 1163355 | $572382 |
| NVIDIA Corp.  | 3036136 | 537396 |
| Broadcom, Inc.  | 1248967 | 503284 |
| Apple, Inc.  | 1155827 | 322302 |
| Applied Materials, Inc.  | 596411 | 150445 |
| Amphenol Corp., Class A  | 768055 | 108219 |
| Seagate Technology Holdings PLC  | 245532 | 67936 |
| Cognizant Technology Solutions Corp., Class A  | 842365 | 65460 |
| Accenture PLC, Class A  | 261521 | 65380 |
| Oracle Corp.  | 280663 | 56680 |
| Arista Networks, Inc. <sup>(a)</sup>  | 355314 | 46433 |
|  |  | 2495917 |
| **Industrials 14.03%** | **Industrials 14.03%** | **Industrials 14.03%** |
| RTX Corp.  | 1362146 | 238253 |
| Automatic Data Processing, Inc.  | 457705 | 116852 |
| Airbus SE, non-registered shares  | 430009 | 101982 |
| General Dynamics Corp.  | 271542 | 92767 |
| Boeing Co. (The) <sup>(a)</sup>  | 432796 | 81798 |
| General Electric Co.  | 272098 | 81208 |
| GFL Environmental, Inc., subordinate voting shares  | 1782922 | 81070 |
| Carrier Global Corp.  | 1338557 | 73460 |
| United Rentals, Inc.  | 74997 | 61136 |
| XPO, Inc. <sup>(a)</sup>  | 414979 | 58952 |
| Ingersoll-Rand, Inc.  | 671101 | 53916 |
| Honeywell International, Inc.  | 261195 | 50199 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 518253 | 45368 |
|  |  | 1136961 |
| **Financials 11.70%** | **Financials 11.70%** | **Financials 11.70%** |
| JPMorgan Chase & Co.  | 580782 | 181831 |
| Mastercard, Inc., Class A  | 261564 | 143999 |
| BlackRock, Inc.  | 129161 | 135270 |
| Wells Fargo & Co.  | 1046595 | 89850 |
| Fidelity National Information Services, Inc.  | 1333096 | 87678 |
| Capital One Financial Corp.  | 279813 | 61299 |
| PNC Financial Services Group, Inc.  | 282571 | 53892 |
| Berkshire Hathaway, Inc., Class B <sup>(a)</sup>  | 101608 | 52207 |
| Marsh & McLennan Cos., Inc.  | 274008 | 50267 |
| Chubb, Ltd.  | 159467 | 47231 |
| Visa, Inc., Class A  | 132945 | 44462 |
|  |  | 947986 |
| **Consumer discretionary 10.37%** | **Consumer discretionary 10.37%** | **Consumer discretionary 10.37%** |
| Amazon.com, Inc. <sup>(a)</sup>  | 1597664 | 372607 |
| Starbucks Corp.  | 1240198 | 108034 |
| Home Depot, Inc.  | 227453 | 81182 |
| Wyndham Hotels & Resorts, Inc.  | 1029016 | 75324 |
| Las Vegas Sands Corp.  | 1097910 | 74834 |
| Royal Caribbean Cruises, Ltd.  | 249379 | 66397 |
| Tesla, Inc. <sup>(a)</sup>  | 143637 | 61788 |
|  |  | 840166 |
| **Health care 9.17%** | **Health care 9.17%** | **Health care 9.17%** |
| Eli Lilly and Co.  | 306131 | 329235 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 277461 | 120310 |
| AbbVie, Inc.  | 371771 | 84652 |

---

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| | |
|:---|:---|
| **4** | Capital Group Equity Exchange-Traded Funds |

---

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Capital Group Core Equity ETF (continued)

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| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| Abbott Laboratories  | 594355 | $76612 |
| UnitedHealth Group, Inc.  | 213566 | 70428 |
| Thermo Fisher Scientific, Inc.  | 105011 | 62044 |
|  |  | 743281 |
| **Communication services 8.49%** | **Communication services 8.49%** | **Communication services 8.49%** |
| Alphabet, Inc., Class A  | 627086 | 200780 |
| Alphabet, Inc., Class C  | 424792 | 135985 |
| Meta Platforms, Inc., Class A  | 419807 | 272014 |
| Netflix, Inc. <sup>(a)</sup>  | 521418 | 56094 |
| SoftBank Group Corp.  | 210800 | 22715 |
|  |  | 687588 |
| **Energy 3.19%** | **Energy 3.19%** | **Energy 3.19%** |
| Baker Hughes Co., Class A  | 1876424 | 94196 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 2461816 | 83326 |
| Exxon Mobil Corp.  | 701989 | 81375 |
|  |  | 258897 |
| **Consumer staples 3.01%** | **Consumer staples 3.01%** | **Consumer staples 3.01%** |
| British American Tobacco PLC  | 2504323 | 146643 |
| Procter & Gamble Co.  | 360175 | 53364 |
| Philip Morris International, Inc.  | 280546 | 44180 |
|  |  | 244187 |
| **Materials 2.85%** | **Materials 2.85%** | **Materials 2.85%** |
| Air Products and Chemicals, Inc.  | 320333 | 83623 |
| Linde PLC  | 149882 | 61499 |
| International Paper Co.  | 1199342 | 47350 |
| Eastman Chemical Co.  | 621500 | 38583 |
|  |  | 231055 |
| **Utilities 2.09%** | **Utilities 2.09%** | **Utilities 2.09%** |
| Dominion Energy, Inc.  | 1000819 | 62821 |
| PG&E Corp.  | 3645032 | 58758 |
| CenterPoint Energy, Inc.  | 1188681 | 47524 |
|  |  | 169103 |
| **Real estate 1.61%** | **Real estate 1.61%** | **Real estate 1.61%** |
| VICI Properties, Inc. REIT  | 2691892 | 77580 |
| Equinix, Inc. REIT  | 69773 | 52561 |
|  |  | 130141 |
| **Total common stocks** (cost: $6,456,765,000) |  | 7885282 |
| Short-term securities 2.64% |  |  |
| **Money market investments 2.64%** | **Money market investments 2.64%** | **Money market investments 2.64%** |
| Capital Group Central Cash Fund 3.94% <sup>(b)(c)</sup>  | 2139156 | 213894 |
| **Total short-term securities** (cost: $213,883,000) |  | 213894 |
| **Total investment securities 99.95%** (cost: $6,670,648,000) |  | 8099176 |
| Other assets less liabilities 0.05% |  | 4323 |
| **Net assets 100.00%** |  | $8103499 |

---

Capital Group Equity Exchange-Traded Funds<sub>5</sub>

------

Capital Group Core Equity ETF (continued)

**Investments in affiliates** <sup>(c)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.64%** | **Short-term securities 2.64%** | **Short-term securities 2.64%** | **Short-term securities 2.64%** | **Short-term securities 2.64%** | **Short-term securities 2.64%** | **Short-term securities 2.64%** | **Short-term securities 2.64%** |
| **Money market investments 2.64%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(b)</sup> | $229801 | &nbsp;&nbsp; $682167 | &nbsp;&nbsp; $698036 | &nbsp;&nbsp; $(31)<br>| &nbsp;&nbsp; $(7)<br>| &nbsp;&nbsp; $213894 | &nbsp;&nbsp; $2816 |

---

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(c)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

---

| |
|:---|
| **Key to abbreviation(s)** |
| CAD = Canadian dollars |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **6** | Capital Group Equity Exchange-Traded Funds |

---

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Capital Group Dividend Growers ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 97.04% | Shares | Value<br> (000)<br>|
| **Financials 18.44%** | **Financials 18.44%** | **Financials 18.44%** |
| DBS Group Holdings, Ltd.  | 1610970 | $67380 |
| Truist Financial Corp.  | 1431536 | 66566 |
| Zurich Insurance Group AG  | 75734 | 54418 |
| London Stock Exchange Group PLC  | 429165 | 50636 |
| JPMorgan Chase & Co.  | 152770 | 47829 |
| Morgan Stanley  | 261500 | 44366 |
| Euronext NV  | 265077 | 40681 |
| Intact Financial Corp.  | 195939 | 40025 |
| CME Group, Inc., Class A  | 135023 | 38004 |
| KB Financial Group, Inc. (ADR)  | 409944 | 34882 |
| Banco Santander SA  | 3197909 | 34288 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 52147 | 32907 |
| Webster Financial Corp.  | 531847 | 31698 |
| East West Bancorp, Inc.  | 296580 | 31645 |
| AIA Group, Ltd.  | 2965800 | 30702 |
| UniCredit SpA  | 275673 | 20495 |
| Deutsche Bank AG  | 464051 | 16477 |
| Hong Kong Exchanges and Clearing, Ltd.  | 278400 | 14696 |
| PICC Property and Casualty Co., Ltd., Class H  | 5572000 | 12639 |
|  |  | 710334 |
| **Information technology 15.67%** | **Information technology 15.67%** | **Information technology 15.67%** |
| Broadcom, Inc.  | 417495 | 168234 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 529068 | 154229 |
| TE Connectivity PLC  | 281471 | 63655 |
| Accenture PLC, Class A  | 189644 | 47411 |
| KLA Corp.  | 38338 | 45065 |
| Microsoft Corp.  | 67271 | 33098 |
| Fujitsu, Ltd.  | 1088600 | 28913 |
| SAP SE  | 107829 | 26086 |
| Tokyo Electron, Ltd.  | 110900 | 22586 |
| MediaTek, Inc.  | 329000 | 14623 |
|  |  | 603900 |
| **Industrials 15.48%** | **Industrials 15.48%** | **Industrials 15.48%** |
| Airbus SE, non-registered shares  | 303450 | 71967 |
| RTX Corp.  | 372742 | 65196 |
| Ryanair Holdings PLC (ADR)  | 700924 | 47775 |
| Mitsubishi Corp.  | 1880800 | 44593 |
| RELX PLC  | 935002 | 37536 |
| Carrier Global Corp.  | 590683 | 32417 |
| Wolters Kluwer NV  | 304106 | 32313 |
| Hitachi, Ltd.  | 968900 | 30828 |
| ITOCHU Corp.  | 486900 | 29188 |
| UL Solutions, Inc., Class A  | 304620 | 27784 |
| Northrop Grumman Corp.  | 47631 | 27257 |
| Paychex, Inc.  | 235081 | 26256 |
| Norfolk Southern Corp.  | 83847 | 24491 |
| Trinity Industries, Inc.  | 830103 | 22014 |
| BAE Systems PLC  | 962970 | 21051 |
| Canadian National Railway Co. (CAD denominated)  | 216138 | 20704 |
| Epiroc AB, Class A  | 837188 | 17966 |
| Watsco, Inc.  | 49256 | 17062 |
|  |  | 596398 |
| **Health care 9.41%** | **Health care 9.41%** | **Health care 9.41%** |
| AstraZeneca PLC  | 375038 | 69414 |
| Abbott Laboratories  | 441606 | 56923 |
| Eli Lilly and Co.  | 50919 | 54762 |
| Amgen, Inc.  | 129249 | 44650 |

---

Capital Group Equity Exchange-Traded Funds<sub>7</sub>

------

Capital Group Dividend Growers ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| UnitedHealth Group, Inc.  | 126142 | $41598 |
| AbbVie, Inc.  | 146623 | 33386 |
| EssilorLuxottica SA  | 89510 | 32053 |
| Bristol-Myers Squibb Co.  | 399039 | 19633 |
| Novo Nordisk AS, Class B  | 203038 | 9997 |
|  |  | 362416 |
| **Consumer discretionary 9.15%** | **Consumer discretionary 9.15%** | **Consumer discretionary 9.15%** |
| Industria de Diseno Textil SA  | 970271 | 54306 |
| YUM! Brands, Inc.  | 296878 | 45485 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 50640 | 37331 |
| Amadeus IT Group SA, Class A, non-registered shares  | 507028 | 37253 |
| Royal Caribbean Cruises, Ltd.  | 130771 | 34818 |
| Starbucks Corp.  | 304618 | 26535 |
| Bridgestone Corp.  | 489400 | 22953 |
| Tractor Supply Co.  | 375453 | 20567 |
| Aristocrat Leisure, Ltd.  | 514636 | 19666 |
| Darden Restaurants, Inc.  | 109205 | 19611 |
| Galaxy Entertainment Group, Ltd.  | 3605000 | 18632 |
| Evolution AB  | 228227 | 15597 |
|  |  | 352754 |
| **Consumer staples 8.78%** | **Consumer staples 8.78%** | **Consumer staples 8.78%** |
| Philip Morris International, Inc.  | 635198 | 100031 |
| Mondelez International, Inc., Class A  | 1241820 | 71492 |
| British American Tobacco PLC  | 862520 | 50506 |
| Danone SA  | 431523 | 38544 |
| Carlsberg A/S, Class B  | 266509 | 33099 |
| Imperial Brands PLC  | 580924 | 24683 |
| Nestle SA  | 200207 | 19896 |
|  |  | 338251 |
| **Utilities 6.89%** | **Utilities 6.89%** | **Utilities 6.89%** |
| CenterPoint Energy, Inc.  | 1741478 | 69624 |
| Iberdrola SA, non-registered shares  | 3269354 | 68966 |
| SSE PLC  | 1590219 | 46295 |
| Sempra  | 461898 | 43751 |
| Engie SA  | 1444422 | 36694 |
|  |  | 265330 |
| **Real estate 3.58%** | **Real estate 3.58%** | **Real estate 3.58%** |
| Welltower, Inc. REIT  | 468089 | 97465 |
| Link REIT  | 3549600 | 16814 |
| Rexford Industrial Realty, Inc. REIT  | 294495 | 12254 |
| Longfor Group Holdings, Ltd.  | 9241000 | 11537 |
|  |  | 138070 |
| **Communication services 3.42%** | **Communication services 3.42%** | **Communication services 3.42%** |
| T-Mobile US, Inc.  | 195631 | 40889 |
| Koninklijke KPN NV  | 8678579 | 39664 |
| Nintendo Co., Ltd.  | 373700 | 31784 |
| America Movil, SAB de CV, Class B (ADR)  | 836255 | 19301 |
|  |  | 131638 |

---

---

| | |
|:---|:---|
| **8** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Dividend Growers ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy 3.26%** | **Energy 3.26%** | **Energy 3.26%** |
| TotalEnergies SE  | 951796 | $62712 |
| ConocoPhillips  | 465359 | 41273 |
| TC Energy Corp. (CAD denominated)  | 401320 | 21687 |
|  |  | 125672 |
| **Materials 2.96%** | **Materials 2.96%** | **Materials 2.96%** |
| International Paper Co.  | 1298458 | 51263 |
| Barrick Mining Corp.  | 720495 | 29785 |
| Vale SA (ADR), ordinary nominative shares  | 1476726 | 18622 |
| Antofagasta PLC  | 397575 | 14523 |
|  |  | 114193 |
| **Total common stocks** (cost: $3,274,984,000) |  | 3738956 |
| Short-term securities 2.81% |  |  |
| **Money market investments 2.81%** | **Money market investments 2.81%** | **Money market investments 2.81%** |
| Capital Group Central Cash Fund 3.94% <sup>(a)(b)</sup>  | 1082222 | 108211 |
| **Total short-term securities** (cost: $108,207,000) |  | 108211 |
| **Total investment securities 99.85%** (cost: $3,383,191,000) |  | 3847167 |
| Other assets less liabilities 0.15% |  | 5847 |
| **Net assets 100.00%** |  | $3853014 |

---

**Investments in affiliates** <sup>(b)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** | **Short-term securities 2.81%** |
| **Money market investments 2.81%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(a)</sup> | $44689 | &nbsp;&nbsp; $408574 | &nbsp;&nbsp; $345035 | &nbsp;&nbsp; $(11)<br>| &nbsp;&nbsp; $(6)<br>| &nbsp;&nbsp; $108211 | &nbsp;&nbsp; $2118 |

---

<sup>(a)</sup> Rate represents the seven-day yield at 11/30/2025. <br> <sup>(b)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

Capital Group Equity Exchange-Traded Funds<sub>9</sub>

------

Capital Group Dividend Value ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 96.71% | Shares | Value<br> (000)<br>|
| **Information technology 25.64%** | **Information technology 25.64%** | **Information technology 25.64%** |
| Microsoft Corp.  | 2954763 | $1453773 |
| Broadcom, Inc.  | 3528815 | 1421971 |
| NVIDIA Corp.  | 7879099 | 1394601 |
| Applied Materials, Inc.  | 3054926 | 770605 |
| Apple, Inc.  | 1981147 | 552443 |
| Salesforce, Inc.  | 1354010 | 312153 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 982868 | 286516 |
| Texas Instruments, Inc.  | 1226472 | 206378 |
| Oracle Corp.  | 808422 | 163261 |
|  |  | 6561701 |
| **Industrials 15.55%** | **Industrials 15.55%** | **Industrials 15.55%** |
| RTX Corp.  | 6723077 | 1175934 |
| General Electric Co.  | 2861354 | 853971 |
| Carrier Global Corp.  | 10639744 | 583909 |
| General Dynamics Corp.  | 1253127 | 428106 |
| Union Pacific Corp.  | 1694622 | 392864 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 3568211 | 312361 |
| Illinois Tool Works, Inc.  | 934761 | 233017 |
|  |  | 3980162 |
| **Health care 14.08%** | **Health care 14.08%** | **Health care 14.08%** |
| Eli Lilly and Co.  | 1476263 | 1587677 |
| AbbVie, Inc.  | 1877145 | 427426 |
| Medtronic PLC  | 3545917 | 373491 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 704682 | 305557 |
| GE HealthCare Technologies, Inc.  | 3803161 | 304215 |
| Amgen, Inc.  | 692057 | 239078 |
| Abbott Laboratories  | 1641605 | 211603 |
| UnitedHealth Group, Inc.  | 471928 | 155628 |
|  |  | 3604675 |
| **Consumer discretionary 10.10%** | **Consumer discretionary 10.10%** | **Consumer discretionary 10.10%** |
| Starbucks Corp.  | 7418057 | 646187 |
| Las Vegas Sands Corp.  | 6538271 | 445649 |
| Amazon.com, Inc. <sup>(a)</sup>  | 1654683 | 385905 |
| McDonald's Corp.  | 1104119 | 344286 |
| TopBuild Corp. <sup>(a)</sup>  | 668695 | 302584 |
| Royal Caribbean Cruises, Ltd.  | 1086636 | 289317 |
| Hasbro, Inc.  | 2067421 | 170769 |
|  |  | 2584697 |
| **Consumer staples 6.82%** | **Consumer staples 6.82%** | **Consumer staples 6.82%** |
| British American Tobacco PLC  | 16227434 | 950216 |
| Philip Morris International, Inc.  | 3880424 | 611089 |
| Mondelez International, Inc., Class A  | 3213634 | 185009 |
|  |  | 1746314 |
| **Financials 6.29%** | **Financials 6.29%** | **Financials 6.29%** |
| JPMorgan Chase & Co.  | 1803323 | 564584 |
| American International Group, Inc.  | 6815610 | 519077 |
| Capital One Financial Corp.  | 1436124 | 314612 |
| First Citizens BancShares, Inc., Class A  | 112351 | 210983 |
|  |  | 1609256 |

---

---

| | |
|:---|:---|
| **10** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Dividend Value ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy 5.50%** | **Energy 5.50%** | **Energy 5.50%** |
| Halliburton Co.  | 19417036 | $509115 |
| TC Energy Corp. (CAD denominated)  | 5918534 | 319829 |
| Canadian Natural Resources, Ltd.  | 8708041 | 294070 |
| Expand Energy Corp.  | 2343565 | 285751 |
|  |  | 1408765 |
| **Communication services 4.68%** | **Communication services 4.68%** | **Communication services 4.68%** |
| Meta Platforms, Inc., Class A  | 976550 | 632755 |
| Alphabet, Inc., Class A  | 1764313 | 564898 |
|  |  | 1197653 |
| **Materials 3.69%** | **Materials 3.69%** | **Materials 3.69%** |
| International Paper Co.  | 10127414 | 399830 |
| Linde PLC  | 851414 | 349352 |
| Air Products and Chemicals, Inc.  | 743630 | 194125 |
|  |  | 943307 |
| **Utilities 2.66%** | **Utilities 2.66%** | **Utilities 2.66%** |
| NextEra Energy, Inc.  | 3331595 | 287483 |
| Public Service Enterprise Group, Inc.  | 2401901 | 200607 |
| DTE Energy Co.  | 1414320 | 193804 |
|  |  | 681894 |
| **Real estate 1.70%** | **Real estate 1.70%** | **Real estate 1.70%** |
| Prologis, Inc. REIT  | 2039151 | 262092 |
| VICI Properties, Inc. REIT  | 5990088 | 172635 |
|  |  | 434727 |
| **Total common stocks** (cost: $20,525,129,000) |  | 24753151 |
| Short-term securities 3.21% |  |  |
| **Money market investments 3.21%** | **Money market investments 3.21%** | **Money market investments 3.21%** |
| Capital Group Central Cash Fund 3.94% <sup>(b)(c)</sup>  | 8217396 | 821658 |
| **Total short-term securities** (cost: $821,687,000) |  | 821658 |
| **Total investment securities 99.92%** (cost: $21,346,816,000) |  | 25574809 |
| Other assets less liabilities 0.08% |  | 21072 |
| **Net assets 100.00%** |  | $25595881 |

---

**Investments in affiliates** <sup>(c)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 3.21%** | **Short-term securities 3.21%** | **Short-term securities 3.21%** | **Short-term securities 3.21%** | **Short-term securities 3.21%** | **Short-term securities 3.21%** | **Short-term securities 3.21%** | **Short-term securities 3.21%** |
| **Money market investments 3.21%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(b)</sup> | $477107 | &nbsp;&nbsp; $2687233 | &nbsp;&nbsp; $2342458 | &nbsp;&nbsp; $(147)<br>| &nbsp;&nbsp; $(77)<br>| &nbsp;&nbsp; $821658 | &nbsp;&nbsp; $9569 |

---

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(c)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

Capital Group Equity Exchange-Traded Funds<sub>11</sub>

------

Capital Group Dividend Value ETF (continued)

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **12** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Global Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 95.78% | Shares | Value<br> (000)<br>|
| **Information technology 23.67%** | **Information technology 23.67%** | **Information technology 23.67%** |
| Broadcom, Inc.  | 169336 | $68236 |
| Microsoft Corp.  | 102996 | 50675 |
| Apple, Inc.  | 135849 | 37881 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 117583 | 34277 |
| ASML Holding NV  | 24118 | 25274 |
| SAP SE  | 76069 | 18402 |
| Fujitsu, Ltd.  | 576600 | 15314 |
| NVIDIA Corp.  | 80684 | 14281 |
| TDK Corp.  | 724000 | 11868 |
| KLA Corp.  | 8692 | 10217 |
| SK hynix, Inc. (GDR)  | 22372 | 8063 |
| Keyence Corp.  | 19400 | 6603 |
| Salesforce, Inc.  | 28017 | 6459 |
| Applied Materials, Inc.  | 19457 | 4908 |
| Accenture PLC, Class A  | 18023 | 4506 |
| Micron Technology, Inc.  | 17941 | 4243 |
| ServiceNow, Inc. <sup>(a)</sup>  | 4604 | 3740 |
|  |  | 324947 |
| **Industrials 19.41%** | **Industrials 19.41%** | **Industrials 19.41%** |
| General Electric Co.  | 97594 | 29127 |
| Safran SA  | 82213 | 27685 |
| Rolls-Royce Holdings PLC  | 1316772 | 18627 |
| GE Vernova, Inc.  | 26898 | 16133 |
| Airbus SE, non-registered shares  | 62007 | 14706 |
| Northrop Grumman Corp.  | 23706 | 13566 |
| Ingersoll-Rand, Inc.  | 156517 | 12574 |
| ABB, Ltd.  | 158881 | 11416 |
| DSV A/S  | 48996 | 11168 |
| United Rentals, Inc.  | 11606 | 9461 |
| HEICO Corp.  | 29092 | 9219 |
| Armstrong World Industries, Inc.  | 42526 | 8069 |
| Epiroc AB, Class A  | 361472 | 7757 |
| AMETEK, Inc.  | 38750 | 7668 |
| Ryanair Holdings PLC (ADR)  | 110838 | 7555 |
| RTX Corp.  | 41389 | 7239 |
| ITOCHU Corp.  | 109600 | 6570 |
| FedEx Corp.  | 23461 | 6468 |
| CSX Corp.  | 170833 | 6041 |
| Hitachi, Ltd.  | 173500 | 5520 |
| Rheinmetall AG, non-registered shares  | 3057 | 5250 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 29073 | 4829 |
| Honeywell International, Inc.  | 23934 | 4600 |
| RELX PLC  | 108829 | 4369 |
| MTU Aero Engines AG  | 9807 | 4008 |
| BAE Systems PLC  | 175103 | 3828 |
| Wolters Kluwer NV  | 29004 | 3082 |
|  |  | 266535 |
| **Financials 15.64%** | **Financials 15.64%** | **Financials 15.64%** |
| JPMorgan Chase & Co.  | 99103 | 31027 |
| DBS Group Holdings, Ltd.  | 425500 | 17797 |
| Mastercard, Inc., Class A  | 26061 | 14347 |
| Deutsche Bank AG  | 401068 | 14241 |
| Visa, Inc., Class A  | 42070 | 14070 |
| AIA Group, Ltd.  | 1231000 | 12744 |
| Standard Chartered PLC  | 534635 | 11850 |
| Marsh & McLennan Cos., Inc.  | 61713 | 11321 |
| London Stock Exchange Group PLC  | 91916 | 10845 |
| Hong Kong Exchanges and Clearing, Ltd.  | 198600 | 10484 |
| UniCredit SpA  | 137057 | 10189 |

---

Capital Group Equity Exchange-Traded Funds<sub>13</sub>

------

Capital Group Global Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Munchener Ruckversicherungs-Gesellschaft AG  | 15109 | $9534 |
| Skandinaviska Enskilda Banken AB, Class A  | 447593 | 8906 |
| S&P Global, Inc.  | 16636 | 8299 |
| Aon PLC, Class A  | 21623 | 7653 |
| NatWest Group PLC  | 692046 | 5795 |
| Arch Capital Group, Ltd. <sup>(a)</sup>  | 57037 | 5357 |
| Partners Group Holding AG  | 4353 | 5163 |
| Arthur J. Gallagher & Co.  | 20668 | 5118 |
|  |  | 214740 |
| **Communication services 8.58%** | **Communication services 8.58%** | **Communication services 8.58%** |
| Alphabet, Inc., Class A  | 187076 | 59898 |
| Meta Platforms, Inc., Class A  | 28029 | 18161 |
| Nintendo Co., Ltd.  | 102000 | 8675 |
| Koninklijke KPN NV  | 1534223 | 7012 |
| America Movil, SAB de CV, Class B (ADR)  | 247655 | 5716 |
| Tencent Holdings, Ltd.  | 71700 | 5631 |
| Netflix, Inc. <sup>(a)</sup>  | 43360 | 4665 |
| Comcast Corp., Class A  | 163118 | 4354 |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 39232 | 3728 |
|  |  | 117840 |
| **Health care 8.26%** | **Health care 8.26%** | **Health care 8.26%** |
| AstraZeneca PLC  | 138057 | 25552 |
| Abbott Laboratories  | 111106 | 14322 |
| Novo Nordisk AS, Class B  | 288632 | 14211 |
| Amgen, Inc.  | 37494 | 12953 |
| BeOne Medicines, Ltd. (ADR) <sup>(a)</sup>  | 29320 | 9987 |
| EssilorLuxottica SA  | 26101 | 9346 |
| Danaher Corp.  | 30567 | 6932 |
| Eli Lilly and Co.  | 6325 | 6802 |
| AbbVie, Inc.  | 20049 | 4565 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 10232 | 4437 |
| UnitedHealth Group, Inc.  | 12766 | 4210 |
|  |  | 113317 |
| **Consumer discretionary 6.80%** | **Consumer discretionary 6.80%** | **Consumer discretionary 6.80%** |
| Amazon.com, Inc. <sup>(a)</sup>  | 67098 | 15649 |
| Royal Caribbean Cruises, Ltd.  | 45359 | 12077 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 16296 | 12013 |
| Hilton Worldwide Holdings, Inc.  | 36294 | 10345 |
| Industria de Diseno Textil SA  | 180628 | 10110 |
| Amadeus IT Group SA, Class A, non-registered shares  | 128387 | 9433 |
| Sony Group Corp.  | 262000 | 7677 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 3280 | 6795 |
| Tractor Supply Co.  | 89276 | 4890 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 128044 | 4420 |
|  |  | 93409 |
| **Consumer staples 4.34%** | **Consumer staples 4.34%** | **Consumer staples 4.34%** |
| Philip Morris International, Inc.  | 90191 | 14203 |
| Danone SA  | 129575 | 11574 |
| L'Oreal SA, non-registered shares  | 20752 | 9042 |
| Nestle SA  | 73804 | 7334 |
| Anheuser-Busch InBev SA/NV  | 116295 | 7152 |
| Costco Wholesale Corp.  | 5970 | 5454 |
| Hershey Co.  | 25414 | 4780 |
|  |  | 59539 |

---

---

| | |
|:---|:---|
| **14** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Global Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Utilities 3.85%** | **Utilities 3.85%** | **Utilities 3.85%** |
| Engie SA  | 544413 | $13830 |
| Constellation Energy Corp.  | 30014 | 10936 |
| RWE AG  | 212939 | 10804 |
| Atmos Energy Corp.  | 49851 | 8792 |
| CenterPoint Energy, Inc.  | 213269 | 8527 |
|  |  | 52889 |
| **Energy 2.64%** | **Energy 2.64%** | **Energy 2.64%** |
| TotalEnergies SE  | 268675 | 17703 |
| TC Energy Corp. (CAD denominated)  | 155725 | 8415 |
| EQT Corp.  | 88838 | 5407 |
| BP PLC  | 779838 | 4691 |
|  |  | 36216 |
| **Materials 2.15%** | **Materials 2.15%** | **Materials 2.15%** |
| Air Liquide SA  | 48941 | 9374 |
| Shin-Etsu Chemical Co., Ltd.  | 297600 | 8962 |
| Barrick Mining Corp. (CAD denominated)  | 135460 | 5665 |
| Linde PLC  | 13521 | 5548 |
|  |  | 29549 |
| **Real estate 0.44%** | **Real estate 0.44%** | **Real estate 0.44%** |
| Welltower, Inc. REIT  | 29015 | 6042 |
| **Total common stocks** (cost: $1,196,043,000) |  | 1315023 |
| Short-term securities 4.17% |  |  |
| **Money market investments 4.17%** | **Money market investments 4.17%** | **Money market investments 4.17%** |
| Capital Group Central Cash Fund 3.94% <sup>(b)(c)</sup>  | 572765 | 57271 |
| **Total short-term securities** (cost: $57,274,000) |  | 57271 |
| **Total investment securities 99.95%** (cost: $1,253,317,000) |  | 1372294 |
| Other assets less liabilities 0.05% |  | 662 |
| **Net assets 100.00%** |  | $1372956 |

---

**Investments in affiliates** <sup>(c)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 4.17%** | **Short-term securities 4.17%** | **Short-term securities 4.17%** | **Short-term securities 4.17%** | **Short-term securities 4.17%** | **Short-term securities 4.17%** | **Short-term securities 4.17%** | **Short-term securities 4.17%** |
| **Money market investments 4.17%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(b)</sup> | $1094 | &nbsp;&nbsp; $121448 | &nbsp;&nbsp; $65265 | &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $(3)<br>| &nbsp;&nbsp; $57271 | &nbsp;&nbsp; $581 |

---

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(c)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **15** |

---

------

Capital Group Global Equity ETF (continued)

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| GDR = Global Depositary Receipts |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **16** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Global Growth Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 96.33% | Shares | Value<br> (000)<br>|
| **Information technology 28.53%** | **Information technology 28.53%** | **Information technology 28.53%** |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 1461665 | $426090 |
| Broadcom, Inc.  | 989710 | 398813 |
| Microsoft Corp.  | 701850 | 345317 |
| ASML Holding NV  | 220240 | 230799 |
| NVIDIA Corp.  | 1300939 | 230266 |
| NEC Corp.  | 2716600 | 102494 |
| Micron Technology, Inc.  | 405963 | 96002 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 306539 | 61372 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 82176 | 49263 |
| Tokyo Electron, Ltd.  | 238200 | 48513 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 298769 | 47397 |
| Capgemini SE  | 262799 | 41093 |
| International Business Machines Corp.  | 130400 | 40239 |
| Intel Corp. <sup>(a)</sup>  | 953692 | 38682 |
| EPAM Systems, Inc. <sup>(a)</sup>  | 193688 | 36220 |
| Apple, Inc.  | 124367 | 34680 |
| Ubiquiti, Inc.  | 47260 | 27557 |
|  |  | 2254797 |
| **Industrials 17.39%** | **Industrials 17.39%** | **Industrials 17.39%** |
| Safran SA  | 419490 | 141262 |
| Comfort Systems USA, Inc.  | 141948 | 138675 |
| Airbus SE, non-registered shares  | 539882 | 128039 |
| Siemens AG  | 367954 | 97445 |
| General Electric Co.  | 273746 | 81700 |
| Ryanair Holdings PLC (ADR)  | 1171049 | 79819 |
| TransDigm Group, Inc.  | 50893 | 69223 |
| Boeing Co. (The) <sup>(a)</sup>  | 356159 | 67314 |
| ASSA ABLOY AB, Class B  | 1618334 | 61470 |
| BAE Systems PLC  | 2636468 | 57635 |
| Saab AB, Class B  | 1115839 | 56212 |
| Core & Main, Inc., Class A <sup>(a)</sup>  | 955419 | 46185 |
| Copart, Inc. <sup>(a)</sup>  | 1182562 | 46096 |
| ATI, Inc. <sup>(a)</sup>  | 451432 | 45504 |
| Hitachi, Ltd.  | 1381900 | 43969 |
| Howmet Aerospace, Inc.  | 206174 | 42181 |
| DSV A/S  | 178876 | 40772 |
| Ingersoll-Rand, Inc.  | 486709 | 39102 |
| Compagnie de Saint-Gobain SA, non-registered shares  | 361498 | 36038 |
| GT Capital Holdings, Inc.  | 2803390 | 27702 |
| Hanwha Aerospace Co., Ltd.  | 32886 | 19052 |
| Alliance Global Group, Inc.  | 79922900 | 9581 |
|  |  | 1374976 |
| **Consumer discretionary 14.27%** | **Consumer discretionary 14.27%** | **Consumer discretionary 14.27%** |
| Prosus NV, Class N  | 2010245 | 126528 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 39428 | 81686 |
| Booking Holdings, Inc.  | 16441 | 80802 |
| MGM China Holdings, Ltd.  | 36169388 | 76745 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 98019 | 72258 |
| Compagnie Financiere Richemont SA, Class A  | 334817 | 70981 |
| Amazon.com, Inc. <sup>(a)</sup>  | 295189 | 68844 |
| Starbucks Corp.  | 766406 | 66762 |
| Trip.com Group, Ltd. (ADR)  | 884480 | 61843 |
| InterContinental Hotels Group PLC  | 464218 | 61578 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 1540786 | 53188 |
| Hyundai Motor Co.  | 290076 | 51579 |
| Renault SA  | 1274708 | 50969 |
| General Motors Co.  | 685748 | 50416 |
| Alibaba Group Holding, Ltd. (ADR)  | 278851 | 43863 |
| D.R. Horton, Inc.  | 232379 | 36951 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **17** |

---

------

Capital Group Global Growth Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary (continued)** | **Consumer discretionary (continued)** | **Consumer discretionary (continued)** |
| Sanrio Co., Ltd.  | 991100 | $35445 |
| Carvana Co., Class A <sup>(a)</sup>  | 51768 | 19342 |
| Urban Outfitters, Inc. <sup>(a)</sup>  | 249700 | 18495 |
|  |  | 1128275 |
| **Financials 11.50%** | **Financials 11.50%** | **Financials 11.50%** |
| Citigroup, Inc.  | 1387835 | 143780 |
| Banco Bilbao Vizcaya Argentaria SA  | 6125360 | 131912 |
| Brookfield Corp., Class A  | 2351409 | 110516 |
| Visa, Inc., Class A  | 316299 | 105783 |
| Aon PLC, Class A  | 294371 | 104184 |
| 3i Group PLC  | 2481002 | 103775 |
| Prudential PLC  | 6783084 | 98242 |
| Societe Generale  | 1164317 | 80955 |
| Coinbase Global, Inc., Class A <sup>(a)</sup>  | 108798 | 29682 |
|  |  | 908829 |
| **Health care 9.04%** | **Health care 9.04%** | **Health care 9.04%** |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 223565 | 96940 |
| Argenx SE (ADR) <sup>(a)</sup>  | 84617 | 77169 |
| Thermo Fisher Scientific, Inc.  | 116005 | 68539 |
| Regeneron Pharmaceuticals, Inc.  | 84865 | 66211 |
| AstraZeneca PLC (ADR)  | 709300 | 65766 |
| Sanofi  | 601809 | 59869 |
| UnitedHealth Group, Inc.  | 180500 | 59524 |
| Eli Lilly and Co.  | 50279 | 54074 |
| EssilorLuxottica SA  | 124013 | 44408 |
| Pfizer, Inc.  | 1710457 | 44027 |
| Cigna Group (The)  | 148086 | 41061 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 62470 | 28189 |
| Centene Corp. <sup>(a)</sup>  | 217315 | 8565 |
|  |  | 714342 |
| **Communication services 6.46%** | **Communication services 6.46%** | **Communication services 6.46%** |
| Meta Platforms, Inc., Class A  | 209813 | 135948 |
| Alphabet, Inc., Class A  | 300839 | 96323 |
| Spotify Technology SA <sup>(a)</sup>  | 108059 | 64713 |
| Publicis Groupe SA  | 645050 | 62839 |
| Bharti Airtel, Ltd.  | 2493229 | 58579 |
| Nintendo Co., Ltd.  | 555300 | 47229 |
| Netflix, Inc. <sup>(a)</sup>  | 420633 | 45252 |
|  |  | 510883 |
| **Consumer staples 4.61%** | **Consumer staples 4.61%** | **Consumer staples 4.61%** |
| Nestle SA  | 761462 | 75672 |
| Costco Wholesale Corp.  | 72605 | 66331 |
| Monster Beverage Corp. <sup>(a)</sup>  | 679313 | 50942 |
| Dollar General Corp.  | 438006 | 47957 |
| Carrefour SA, non-registered shares  | 2862665 | 44049 |
| Pernod Ricard SA  | 446723 | 40202 |
| Philip Morris International, Inc.  | 246772 | 38862 |
|  |  | 364015 |
| **Materials 2.81%** | **Materials 2.81%** | **Materials 2.81%** |
| Linde PLC  | 141077 | 57887 |
| Lynas Rare Earths, Ltd. <sup>(a)</sup>  | 4969101 | 47097 |

---

---

| | |
|:---|:---|
| **18** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Global Growth Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** | **Materials (continued)** | **Materials (continued)** |
| Agnico Eagle Mines, Ltd.  | 248651 | $43387 |
| Amcor PLC  | 4775150 | 40684 |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 1459293 | 33256 |
|  |  | 222311 |
| **Energy 1.44%** | **Energy 1.44%** | **Energy 1.44%** |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 2098881 | 71042 |
| Reliance Industries, Ltd.  | 2460049 | 43110 |
|  |  | 114152 |
| **Utilities 0.28%** | **Utilities 0.28%** | **Utilities 0.28%** |
| Oklo, Inc., Class A <sup>(a)(b)</sup>  | 241643 | 22082 |
| **Total common stocks** (cost: $6,200,057,000) |  | 7614662 |
| Preferred securities 1.32% |  |  |
| **Information technology 1.32%** | **Information technology 1.32%** | **Information technology 1.32%** |
| Samsung Electronics Co., Ltd., nonvoting preferred shares  | 2034707 | 103766 |
| **Total preferred securities** (cost: $84,256,000) |  | 103766 |
| Short-term securities 2.17% |  |  |
| **Money market investments 2.06%** | **Money market investments 2.06%** | **Money market investments 2.06%** |
| Capital Group Central Cash Fund 3.94% <sup>(c)(d)</sup>  | 1629965 | 162980 |
| **Money market investments purchased with collateral from securities on loan 0.11%** | **Money market investments purchased with collateral from securities on loan 0.11%** | **Money market investments purchased with collateral from securities on loan 0.11%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class <br> 3.92% <sup>(e)</sup>  | 8780310 | 8780 |
| **Total short-term securities** (cost: $171,758,000) |  | 171760 |
| **Total investment securities 99.82%** (cost: $6,456,071,000) |  | 7890188 |
| Other assets less liabilities 0.18% |  | 14391 |
| **Net assets 100.00%** |  | $7904579 |

---

**Investments in affiliates** <sup>(d)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.06%** | **Short-term securities 2.06%** | **Short-term securities 2.06%** | **Short-term securities 2.06%** | **Short-term securities 2.06%** | **Short-term securities 2.06%** | **Short-term securities 2.06%** | **Short-term securities 2.06%** |
| **Money market investments 2.06%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(c)</sup> | $714 | &nbsp;&nbsp; $1363552 | &nbsp;&nbsp; $1201294 | &nbsp;&nbsp; $8 | &nbsp;&nbsp; $— <br><sup>(f)</sup><br>| &nbsp;&nbsp; $162980 | &nbsp;&nbsp; $3357 |

---

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. Refer to Note 5 for more information on securities lending.

<sup>(c)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(d)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(e)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(f)</sup> Amount less than one thousand.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **19** |

---

------

Capital Group Global Growth Equity ETF (continued)

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **20** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Growth ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 98.11% | Shares | Value<br> (000)<br>|
| **Information technology 29.89%** | **Information technology 29.89%** | **Information technology 29.89%** |
| Broadcom, Inc.  | 2597693 | $1046766 |
| NVIDIA Corp.  | 5095208 | 901852 |
| Microsoft Corp.  | 1699548 | 836195 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 2419634 | 383851 |
| Micron Technology, Inc.  | 1531464 | 362161 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 1478576 | 296026 |
| Apple, Inc.  | 979767 | 273208 |
| Salesforce, Inc.  | 1032839 | 238111 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 633259 | 184601 |
| SK hynix, Inc.  | 368715 | 132879 |
| Strategy, Inc., Class A <sup>(a)</sup>  | 581644 | 103056 |
| Fair Isaac Corp. <sup>(a)</sup>  | 55338 | 99931 |
| Synopsys, Inc. <sup>(a)</sup>  | 216764 | 90609 |
| ASML Holding NV (ADR)  | 78800 | 83528 |
| Constellation Software, Inc.  | 32891 | 79623 |
| Adobe, Inc. <sup>(a)</sup>  | 246352 | 78865 |
| Unity Software, Inc. <sup>(a)</sup>  | 1736744 | 73846 |
| Motorola Solutions, Inc.  | 188096 | 69535 |
| KLA Corp.  | 54771 | 64382 |
| Intel Corp. <sup>(a)</sup>  | 1403497 | 56926 |
| AppLovin Corp., Class A <sup>(a)</sup>  | 94768 | 56811 |
|  |  | 5512762 |
| **Communication services 17.95%** | **Communication services 17.95%** | **Communication services 17.95%** |
| Meta Platforms, Inc., Class A  | 2169603 | 1405794 |
| Alphabet, Inc., Class C  | 1918625 | 614190 |
| Alphabet, Inc., Class A  | 1693115 | 542102 |
| Netflix, Inc. <sup>(a)</sup>  | 4729553 | 508805 |
| Live Nation Entertainment, Inc. <sup>(a)</sup>  | 566269 | 74436 |
| ROBLOX Corp., Class A <sup>(a)</sup>  | 717205 | 68156 |
| Snap, Inc., Class A, nonvoting shares <sup>(a)</sup>  | 7685821 | 59027 |
| Charter Communications, Inc., Class A <sup>(a)</sup>  | 189065 | 37836 |
|  |  | 3310346 |
| **Consumer discretionary 15.01%** | **Consumer discretionary 15.01%** | **Consumer discretionary 15.01%** |
| Tesla, Inc. <sup>(a)</sup>  | 2567410 | 1104423 |
| Amazon.com, Inc. <sup>(a)</sup>  | 1766668 | 412022 |
| Royal Caribbean Cruises, Ltd.  | 697148 | 185616 |
| D.R. Horton, Inc.  | 1049642 | 166904 |
| Chipotle Mexican Grill, Inc. <sup>(a)</sup>  | 3759719 | 129785 |
| DoorDash, Inc., Class A <sup>(a)</sup>  | 580756 | 115205 |
| NIKE, Inc., Class B  | 1490612 | 96338 |
| Hermes International  | 34378 | 83745 |
| Tractor Supply Co.  | 1486530 | 81432 |
| Burlington Stores, Inc. <sup>(a)</sup>  | 275791 | 69563 |
| Home Depot, Inc.  | 190331 | 67933 |
| Aramark  | 1663829 | 61845 |
| Wayfair, Inc., Class A <sup>(a)</sup>  | 544922 | 60377 |
| Norwegian Cruise Line Holdings, Ltd. <sup>(a)</sup>  | 2661181 | 49125 |
| Amadeus IT Group SA, Class A, non-registered shares  | 600623 | 44130 |
| Rivian Automotive, Inc., Class A <sup>(a)</sup>  | 2396452 | 40404 |
|  |  | 2768847 |
| **Health care 11.85%** | **Health care 11.85%** | **Health care 11.85%** |
| Intuitive Surgical, Inc. <sup>(a)</sup>  | 699409 | 401097 |
| Eli Lilly and Co.  | 339245 | 364848 |
| Alnylam Pharmaceuticals, Inc. <sup>(a)</sup>  | 615097 | 277550 |
| Vertex Pharmaceuticals, Inc. <sup>(a)</sup>  | 569993 | 247155 |
| Thermo Fisher Scientific, Inc.  | 227544 | 134440 |
| HCA Healthcare, Inc.  | 250794 | 127476 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **21** |

---

------

Capital Group Growth ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| UnitedHealth Group, Inc.  | 351111 | $115786 |
| Boston Scientific Corp. <sup>(a)</sup>  | 1058835 | 107556 |
| Insmed, Inc. <sup>(a)</sup>  | 296895 | 61686 |
| Guardant Health, Inc. <sup>(a)</sup>  | 562027 | 60935 |
| Mettler-Toledo International, Inc. <sup>(a)</sup>  | 38381 | 56678 |
| Illumina, Inc. <sup>(a)</sup>  | 423378 | 55653 |
| Danaher Corp.  | 226540 | 51375 |
| Exact Sciences Corp. <sup>(a)</sup>  | 475146 | 48127 |
| Ascendis Pharma AS (ADR) <sup>(a)</sup>  | 190420 | 40432 |
| Hims & Hers Health, Inc., Class A <sup>(a)(b)</sup>  | 853816 | 33948 |
|  |  | 2184742 |
| **Industrials 9.37%** | **Industrials 9.37%** | **Industrials 9.37%** |
| TransDigm Group, Inc.  | 272755 | 370993 |
| General Electric Co.  | 632820 | 188865 |
| United Rentals, Inc.  | 200035 | 163065 |
| Quanta Services, Inc.  | 327810 | 152392 |
| Ingersoll-Rand, Inc.  | 1474759 | 118482 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 1332691 | 116664 |
| United Airlines Holdings, Inc. <sup>(a)</sup>  | 906224 | 92399 |
| ATI, Inc. <sup>(a)</sup>  | 829107 | 83574 |
| FTAI Aviation, Ltd.  | 403610 | 69921 |
| Equifax, Inc.  | 312473 | 66360 |
| Northrop Grumman Corp.  | 103651 | 59314 |
| Airbus SE, non-registered shares  | 235384 | 55824 |
| Ryanair Holdings PLC (ADR)  | 730188 | 49770 |
| Axon Enterprise, Inc. <sup>(a)</sup>  | 74044 | 39994 |
| Rocket Lab Corp. <sup>(a)</sup>  | 834300 | 35157 |
| Boeing Co. (The) <sup>(a)</sup>  | 185666 | 35091 |
| GE Vernova, Inc.  | 49324 | 29583 |
|  |  | 1727448 |
| **Financials 7.70%** | **Financials 7.70%** | **Financials 7.70%** |
| Visa, Inc., Class A  | 1136516 | 380097 |
| Bank of America Corp.  | 3631802 | 194846 |
| KKR & Co., Inc.  | 1095438 | 133983 |
| Mastercard, Inc., Class A  | 235339 | 129561 |
| Toast, Inc., Class A <sup>(a)</sup>  | 2972566 | 101632 |
| Affirm Holdings, Inc., Class A <sup>(a)</sup>  | 1330993 | 94434 |
| Apollo Asset Management, Inc.  | 632629 | 83412 |
| Fiserv, Inc. <sup>(a)</sup>  | 1207221 | 74208 |
| Capital One Financial Corp.  | 328693 | 72007 |
| Block, Inc., Class A <sup>(a)</sup>  | 920226 | 61471 |
| Blackstone, Inc.  | 334819 | 49024 |
| Progressive Corp.  | 202832 | 46406 |
|  |  | 1421081 |
| **Consumer staples 1.90%** | **Consumer staples 1.90%** | **Consumer staples 1.90%** |
| Performance Food Group Co. <sup>(a)</sup>  | 1462479 | 141963 |
| Costco Wholesale Corp.  | 135356 | 123660 |
| Philip Morris International, Inc.  | 538796 | 84849 |
|  |  | 350472 |
| **Materials 1.63%** | **Materials 1.63%** | **Materials 1.63%** |
| Wheaton Precious Metals Corp.  | 1475637 | 162394 |
| Grupo Mexico, SAB de CV, Series B  | 9916211 | 86414 |
| Albemarle Corp.  | 395898 | 51463 |
|  |  | 300271 |

---

---

| | |
|:---|:---|
| **22** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group Growth ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy 1.44%** | **Energy 1.44%** | **Energy 1.44%** |
| EOG Resources, Inc.  | 1149378 | $123960 |
| Baker Hughes Co., Class A  | 1438923 | 72234 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 2027683 | 68632 |
|  |  | 264826 |
| **Utilities 0.73%** | **Utilities 0.73%** | **Utilities 0.73%** |
| Constellation Energy Corp.  | 231621 | 84394 |
| PG&E Corp.  | 3152548 | 50819 |
|  |  | 135213 |
| **Real estate 0.64%** | **Real estate 0.64%** | **Real estate 0.64%** |
| Zillow Group, Inc., Class C, nonvoting shares <sup>(a)</sup>  | 867263 | 64507 |
| CoStar Group, Inc. <sup>(a)</sup>  | 771815 | 53101 |
|  |  | 117608 |
| **Total common stocks** (cost: $14,050,603,000) |  | 18093616 |
| Rights & warrants 0.00% |  |  |
| **Information technology 0.00%** | **Information technology 0.00%** | **Information technology 0.00%** |
| Constellation Software, Inc., warrants, expire 3/31/2040 <sup>(a)(c)</sup>  | 4185 | — <br><sup>(d)</sup><br>|
| **Total rights & warrants** (cost: $0) |  | — <br><sup>(d)</sup><br>|
| Short-term securities 1.93% |  |  |
| **Money market investments 1.89%** | **Money market investments 1.89%** | **Money market investments 1.89%** |
| Capital Group Central Cash Fund 3.94% <sup>(e)(f)</sup>  | 3485279 | 348493 |
| **Money market investments purchased with collateral from securities on loan 0.04%** | **Money market investments purchased with collateral from securities on loan 0.04%** | **Money market investments purchased with collateral from securities on loan 0.04%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class <br> 3.92% <sup>(e)(g)</sup>  | 6583238 | 6583 |
| **Total short-term securities** (cost: $355,096,000) |  | 355076 |
| **Total investment securities 100.04%** (cost: $14,405,699,000) |  | 18448692 |
| Other assets less liabilities (0.04)% |  | (7057)<br>|
| **Net assets 100.00%** |  | $18441635 |

---

**Investments in affiliates** <sup>(f)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 1.89%** | **Short-term securities 1.89%** | **Short-term securities 1.89%** | **Short-term securities 1.89%** | **Short-term securities 1.89%** | **Short-term securities 1.89%** | **Short-term securities 1.89%** | **Short-term securities 1.89%** |
| **Money market investments 1.89%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(e)</sup> | $419993 | &nbsp;&nbsp; $1098650 | &nbsp;&nbsp; $1170101 | &nbsp;&nbsp; $— <br><sup>(d)</sup><br>| &nbsp;&nbsp; $(49)<br>| &nbsp;&nbsp; $348493 | &nbsp;&nbsp; $4512 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **23** |

---

------

Capital Group Growth ETF (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. Refer to Note 5 for more information on securities lending.

<sup>(c)</sup> Value determined using significant unobservable inputs.

<sup>(d)</sup> Amount less than one thousand.

<sup>(e)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(f)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(g)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **24** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group International Core Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 97.94% | Shares | Value<br> (000)<br>|
| **Financials 23.48%** | **Financials 23.48%** | **Financials 23.48%** |
| UniCredit SpA  | 151583 | $11269 |
| Societe Generale  | 154099 | 10715 |
| AXA SA  | 211658 | 9551 |
| Zurich Insurance Group AG  | 12260 | 8809 |
| CaixaBank SA, non-registered shares  | 714339 | 7968 |
| Skandinaviska Enskilda Banken AB, Class A  | 391067 | 7781 |
| Banco Bilbao Vizcaya Argentaria SA  | 347133 | 7476 |
| DBS Group Holdings, Ltd.  | 177200 | 7411 |
| HSBC Holdings PLC  | 520758 | 7382 |
| AIA Group, Ltd.  | 670000 | 6936 |
| Bank Hapoalim BM  | 311866 | 6718 |
| Prudential PLC  | 409312 | 5928 |
| Banco Santander SA  | 515142 | 5523 |
| HDFC Bank, Ltd.  | 480604 | 5414 |
| KB Financial Group, Inc.  | 55533 | 4712 |
| PICC Property and Casualty Co., Ltd., Class H  | 2018000 | 4577 |
| Euronext NV  | 29587 | 4541 |
| Resona Holdings, Inc.  | 444200 | 4522 |
| NatWest Group PLC  | 527981 | 4421 |
| Ping An Insurance (Group) Co. of China, Ltd., Class H  | 526000 | 3831 |
| Deutsche Bank AG  | 99938 | 3548 |
| Kotak Mahindra Bank, Ltd.  | 145653 | 3459 |
| London Stock Exchange Group PLC  | 27642 | 3261 |
| Japan Post Bank Co., Ltd.  | 253200 | 3045 |
| Axis Bank, Ltd.  | 199534 | 2855 |
| Aon PLC, Class A  | 7769 | 2750 |
| Tryg A/S  | 105058 | 2603 |
| 3i Group PLC  | 61844 | 2587 |
| Hiscox, Ltd.  | 138242 | 2454 |
| CVC Capital Partners PLC  | 137775 | 2276 |
| Mizuho Financial Group, Inc.  | 63000 | 2208 |
| Tokio Marine Holdings, Inc.  | 62400 | 2202 |
| ICICI Bank, Ltd. (ADR)  | 70092 | 2189 |
| XP, Inc., Class A  | 98142 | 1934 |
| Pluxee NV  | 112622 | 1808 |
| Hong Kong Exchanges and Clearing, Ltd.  | 34100 | 1800 |
| Etoro Group, Ltd., Class A <sup>(a)(b)</sup>  | 42615 | 1788 |
| People's Insurance Co. (Group) of China, Ltd. (The), Class H  | 1924000 | 1742 |
| Bank Leumi le-Israel BM  | 82776 | 1728 |
| Hana Financial Group, Inc.  | 26774 | 1699 |
| Grupo Financiero Banorte, SAB de CV, Series O  | 158941 | 1520 |
| Abu Dhabi Islamic Bank PJSC  | 233432 | 1265 |
|  |  | 186206 |
| **Industrials 16.26%** | **Industrials 16.26%** | **Industrials 16.26%** |
| BAE Systems PLC  | 642838 | 14053 |
| Airbus SE, non-registered shares  | 57610 | 13663 |
| Ryanair Holdings PLC (ADR)  | 166015 | 11316 |
| Siemens AG  | 26063 | 6902 |
| Deutsche Post AG  | 113257 | 5890 |
| ITOCHU Corp.  | 94200 | 5647 |
| Hitachi, Ltd.  | 171800 | 5466 |
| Safran SA  | 15150 | 5102 |
| Motiva Infraestrutura de Mobilidade SA  | 1584792 | 4745 |
| ABB, Ltd.  | 64041 | 4602 |
| Diploma PLC  | 59044 | 4274 |
| Epiroc AB, Class A  | 174262 | 3740 |
| Canadian National Railway Co. (CAD denominated)  | 37234 | 3566 |
| ASSA ABLOY AB, Class B  | 85733 | 3256 |
| RELX PLC  | 79309 | 3184 |
| Volvo AB, Class B  | 100645 | 3015 |
| Copa Holdings SA, Class A  | 23683 | 2885 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **25** |

---

------

Capital Group International Core Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** | **Industrials (continued)** | **Industrials (continued)** |
| Compagnie de Saint-Gobain SA, non-registered shares  | 27334 | $2725 |
| Mitsui & Co., Ltd.  | 101900 | 2706 |
| Deutsche Lufthansa AG  | 281234 | 2698 |
| DSV A/S  | 10820 | 2466 |
| SPIE SA  | 36865 | 1998 |
| SGH, Ltd.  | 64316 | 1992 |
| Rheinmetall AG, non-registered shares  | 1099 | 1887 |
| Bombardier, Inc., Class B <sup>(a)</sup>  | 10574 | 1756 |
| Full Truck Alliance Co., Ltd., Class A (ADR)  | 150353 | 1706 |
| IHI Corp.  | 89400 | 1595 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 64521 | 1573 |
| Rolls-Royce Holdings PLC  | 109268 | 1546 |
| Kanzhun, Ltd., Class A (ADR)  | 66909 | 1479 |
| Daikin Industries, Ltd.  | 11300 | 1468 |
|  |  | 128901 |
| **Information technology 13.00%** | **Information technology 13.00%** | **Information technology 13.00%** |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 118615 | 34577 |
| ASML Holding NV  | 16692 | 17492 |
| Samsung Electronics Co., Ltd.  | 150947 | 10315 |
| MediaTek, Inc.  | 156000 | 6934 |
| Broadcom, Inc.  | 16364 | 6594 |
| SK hynix, Inc.  | 13072 | 4711 |
| NEC Corp.  | 123500 | 4660 |
| SAP SE  | 13165 | 3185 |
| Sage Group PLC (The)  | 217271 | 3092 |
| ASMPT, Ltd.  | 312000 | 3018 |
| Fujitsu, Ltd.  | 95600 | 2539 |
| Capgemini SE  | 16208 | 2534 |
| ASM International NV  | 3275 | 1802 |
| Tokyo Electron, Ltd.  | 8100 | 1650 |
|  |  | 103103 |
| **Consumer discretionary 8.57%** | **Consumer discretionary 8.57%** | **Consumer discretionary 8.57%** |
| Industria de Diseno Textil SA  | 201983 | 11305 |
| Trip.com Group, Ltd. (ADR)  | 94365 | 6598 |
| Prosus NV, Class N  | 103166 | 6493 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 8034 | 5922 |
| MGM China Holdings, Ltd.  | 2652800 | 5629 |
| H World Group, Ltd. (ADR)  | 63277 | 2917 |
| Midea Group Co., Ltd., Class A  | 256300 | 2891 |
| Amadeus IT Group SA, Class A, non-registered shares  | 39100 | 2873 |
| Nitori Holdings Co., Ltd.  | 133000 | 2302 |
| ANTA Sports Products, Ltd.  | 208600 | 2273 |
| Suzuki Motor Corp.  | 142500 | 2228 |
| Restaurant Brands International, Inc.  | 30604 | 2224 |
| Hyundai Motor Co.  | 11875 | 2112 |
| Evolution AB  | 29938 | 2046 |
| Entain PLC  | 194756 | 2004 |
| Paltac Corp.  | 62400 | 1878 |
| Renault SA  | 44589 | 1783 |
| InterContinental Hotels Group PLC  | 11766 | 1561 |
| B&M European Value Retail SA  | 647582 | 1449 |
| Meituan, Class B <sup>(a)</sup>  | 109600 | 1443 |
|  |  | 67931 |
| **Consumer staples 8.44%** | **Consumer staples 8.44%** | **Consumer staples 8.44%** |
| British American Tobacco PLC  | 254824 | 14922 |
| Nestle SA  | 106544 | 10588 |
| Philip Morris International, Inc.  | 56491 | 8896 |

---

---

| | |
|:---|:---|
| **26** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group International Core Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer staples (continued)** | **Consumer staples (continued)** | **Consumer staples (continued)** |
| Pernod Ricard SA  | 70490 | $6344 |
| Imperial Brands PLC  | 148515 | 6310 |
| Carlsberg A/S, Class B  | 35162 | 4367 |
| Arca Continental, SAB de CV  | 343793 | 3508 |
| L'Oreal SA, non-registered shares  | 7952 | 3465 |
| Carrefour SA, non-registered shares  | 215511 | 3316 |
| KT&G Corp.  | 29436 | 2912 |
| Anheuser-Busch InBev SA/NV  | 36721 | 2258 |
|  |  | 66886 |
| **Communication services 6.91%** | **Communication services 6.91%** | **Communication services 6.91%** |
| Koninklijke KPN NV  | 2124948 | 9712 |
| Tencent Holdings, Ltd.  | 101600 | 7980 |
| Singapore Telecommunications, Ltd.  | 1946400 | 7104 |
| Publicis Groupe SA  | 58854 | 5733 |
| Bharti Airtel, Ltd.  | 169141 | 3974 |
| BT Group PLC  | 1086030 | 2603 |
| Orange  | 149736 | 2465 |
| America Movil, SAB de CV, Class B (ADR)  | 99371 | 2293 |
| Nippon Television Holdings, Inc.  | 85100 | 2180 |
| NetEase, Inc.  | 75300 | 2070 |
| Deutsche Telekom AG  | 59953 | 1931 |
| Nintendo Co., Ltd.  | 21600 | 1837 |
| HYBE Co., Ltd.  | 8571 | 1745 |
| Indus Towers, Ltd. <sup>(a)</sup>  | 353685 | 1586 |
| MTN Group, Ltd.  | 167095 | 1542 |
|  |  | 54755 |
| **Materials 6.88%** | **Materials 6.88%** | **Materials 6.88%** |
| Barrick Mining Corp.  | 195671 | 8089 |
| Glencore PLC <sup>(a)</sup>  | 1173975 | 5610 |
| BASF SE  | 103080 | 5369 |
| Agnico Eagle Mines, Ltd.  | 26700 | 4659 |
| Linde PLC  | 9820 | 4029 |
| Vale SA (ADR), ordinary nominative shares  | 246524 | 3109 |
| Valterra Platinum, Ltd.  | 44644 | 3106 |
| Norsk Hydro ASA  | 398234 | 2848 |
| Anhui Conch Cement Co., Ltd., Class H  | 911500 | 2742 |
| Air Liquide SA  | 13710 | 2626 |
| Shin-Etsu Chemical Co., Ltd.  | 72500 | 2183 |
| Nutrien, Ltd.  | 36349 | 2115 |
| Southern Copper Corp.  | 15437 | 2080 |
| Rio Tinto PLC  | 27844 | 2000 |
| Amcor PLC (CDI)  | 167806 | 1439 |
| Heidelberg Materials AG, non-registered shares  | 5224 | 1341 |
| Impala Platinum Holdings, Ltd.  | 96191 | 1205 |
|  |  | 54550 |
| **Health care 6.81%** | **Health care 6.81%** | **Health care 6.81%** |
| AstraZeneca PLC  | 83243 | 15407 |
| Sanofi  | 153305 | 15251 |
| EssilorLuxottica SA  | 26616 | 9531 |
| Roche Holding AG, nonvoting non-registered shares  | 10363 | 3966 |
| Novo Nordisk AS, Class B  | 74270 | 3657 |
| Bayer AG  | 74421 | 2632 |
| Chugai Pharmaceutical Co., Ltd.  | 47100 | 2526 |
| Grifols SA, Class B (ADR)  | 120713 | 1068 |
|  |  | 54038 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **27** |

---

------

Capital Group International Core Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Energy 4.30%** | **Energy 4.30%** | **Energy 4.30%** |
| TotalEnergies SE  | 164443 | $10835 |
| Cameco Corp. <sup>(a)</sup>  | 64975 | 5764 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 152147 | 5150 |
| Shell PLC  | 128855 | 4751 |
| Cenovus Energy, Inc.  | 207933 | 3710 |
| TC Energy Corp. (CAD denominated)  | 37316 | 2016 |
| BP PLC  | 316030 | 1901 |
|  |  | 34127 |
| **Utilities 2.33%** | **Utilities 2.33%** | **Utilities 2.33%** |
| RWE AG  | 86679 | 4398 |
| Iberdrola SA, non-registered shares  | 195002 | 4114 |
| SSE PLC  | 136588 | 3976 |
| Engie SA  | 140677 | 3574 |
| Brookfield Infrastructure Partners, LP  | 68148 | 2446 |
|  |  | 18508 |
| **Real estate 0.96%** | **Real estate 0.96%** | **Real estate 0.96%** |
| Mitsubishi Estate Co., Ltd.  | 121400 | 2865 |
| CK Asset Holdings, Ltd.  | 547000 | 2805 |
| Prologis Property Mexico, SA de CV, REIT  | 447457 | 1908 |
|  |  | 7578 |
| **Total common stocks** (cost: $704,353,000) |  | 776583 |
| Short-term securities 2.07% |  |  |
| **Money market investments 1.93%** | **Money market investments 1.93%** | **Money market investments 1.93%** |
| Capital Group Central Cash Fund 3.94% <sup>(c)(d)</sup>  | 153012 | 15300 |
| **Money market investments purchased with collateral from securities on loan 0.14%** | **Money market investments purchased with collateral from securities on loan 0.14%** | **Money market investments purchased with collateral from securities on loan 0.14%** |
| Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class <br> 3.92% <sup>(c)(e)</sup>  | 1129692 | 1130 |
| **Total short-term securities** (cost: $16,430,000) |  | 16430 |
| **Total investment securities 100.01%** (cost: $720,783,000) |  | 793013 |
| Other assets less liabilities (0.01)% |  | (104)<br>|
| **Net assets 100.00%** |  | $792909 |

---

**Investments in affiliates** <sup>(d)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 1.93%** | **Short-term securities 1.93%** | **Short-term securities 1.93%** | **Short-term securities 1.93%** | **Short-term securities 1.93%** | **Short-term securities 1.93%** | **Short-term securities 1.93%** | **Short-term securities 1.93%** |
| **Money market investments 1.93%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(c)</sup> | $6696 | &nbsp;&nbsp; $75543 | &nbsp;&nbsp; $66939 | &nbsp;&nbsp; $— <br><sup>(f)</sup><br>| &nbsp;&nbsp; $— <br><sup>(f)</sup><br>| &nbsp;&nbsp; $15300 | &nbsp;&nbsp; $234 |

---

---

| | |
|:---|:---|
| **28** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group International Core Equity ETF (continued)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> All or a portion of this security was on loan. Refer to Note 5 for more information on securities lending.

<sup>(c)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(d)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

<sup>(e)</sup> Security purchased with cash collateral from securities on loan. Refer to Note 5 for more information on securities lending.

<sup>(f)</sup> Amount less than one thousand.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest |
| REIT = Real Estate Investment Trust |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **29** |

---

------

Capital Group International Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 97.57% | Shares | Value<br> (000)<br>|
| **Industrials 25.65%** | **Industrials 25.65%** | **Industrials 25.65%** |
| Safran SA  | 117276 | $39492 |
| Rolls-Royce Holdings PLC  | 2189214 | 30968 |
| ABB, Ltd.  | 401612 | 28857 |
| Airbus SE, non-registered shares  | 117806 | 27939 |
| DSV A/S  | 95725 | 21819 |
| Epiroc AB, Class A  | 993276 | 21315 |
| Mitsubishi Corp.  | 789300 | 18714 |
| BAE Systems PLC  | 840336 | 18371 |
| Hitachi, Ltd.  | 556600 | 17710 |
| Ryanair Holdings PLC (ADR)  | 232274 | 15832 |
| ITOCHU Corp.  | 250300 | 15005 |
| RELX PLC  | 338283 | 13581 |
| MTU Aero Engines AG  | 31564 | 12899 |
| Recruit Holdings Co., Ltd.  | 248100 | 12721 |
| Daikin Industries, Ltd.  | 96200 | 12498 |
| Canadian National Railway Co.  | 113873 | 10919 |
| Wolters Kluwer NV  | 87303 | 9277 |
| Rheinmetall AG, non-registered shares  | 5055 | 8681 |
|  |  | 336598 |
| **Financials 20.95%** | **Financials 20.95%** | **Financials 20.95%** |
| Skandinaviska Enskilda Banken AB, Class A  | 1495214 | 29751 |
| UniCredit SpA  | 353270 | 26264 |
| NatWest Group PLC  | 2566479 | 21490 |
| London Stock Exchange Group PLC  | 176217 | 20791 |
| Hong Kong Exchanges and Clearing, Ltd.  | 387200 | 20440 |
| Banco Santander SA  | 1693428 | 18157 |
| AIA Group, Ltd.  | 1734600 | 17957 |
| Resona Holdings, Inc.  | 1702600 | 17333 |
| Euronext NV  | 110081 | 16894 |
| Deutsche Bank AG  | 470825 | 16718 |
| Banco Bilbao Vizcaya Argentaria SA  | 774510 | 16679 |
| DBS Group Holdings, Ltd.  | 396500 | 16584 |
| Munchener Ruckversicherungs-Gesellschaft AG  | 24766 | 15628 |
| Standard Chartered PLC  | 562947 | 12478 |
| Partners Group Holding AG  | 6605 | 7834 |
|  |  | 274998 |
| **Information technology 14.42%** | **Information technology 14.42%** | **Information technology 14.42%** |
| ASML Holding NV  | 42832 | 44885 |
| SAP SE  | 125237 | 30297 |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 102098 | 29762 |
| Halma PLC  | 325067 | 15328 |
| Tokyo Electron, Ltd.  | 63100 | 12851 |
| TDK Corp.  | 754300 | 12365 |
| Keyence Corp.  | 34900 | 11878 |
| Shopify, Inc., Class A, subordinate voting shares <sup>(a)</sup>  | 71476 | 11339 |
| Fujitsu, Ltd.  | 426800 | 11336 |
| OBIC Co., Ltd.  | 286600 | 9218 |
|  |  | 189259 |
| **Health care 9.94%** | **Health care 9.94%** | **Health care 9.94%** |
| AstraZeneca PLC  | 201811 | 37352 |
| Novo Nordisk AS, Class B  | 524406 | 25820 |
| EssilorLuxottica SA  | 66042 | 23649 |
| Daiichi Sankyo Co., Ltd.  | 568500 | 14069 |

---

---

| | |
|:---|:---|
| **30** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group International Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Health care (continued)** | **Health care (continued)** | **Health care (continued)** |
| Chugai Pharmaceutical Co., Ltd.  | 238600 | $12796 |
| HOYA Corp.  | 63300 | 9507 |
| BeOne Medicines, Ltd. (ADR) <sup>(a)</sup>  | 21422 | 7297 |
|  |  | 130490 |
| **Consumer discretionary 8.61%** | **Consumer discretionary 8.61%** | **Consumer discretionary 8.61%** |
| LVMH Moet Hennessy-Louis Vuitton SE  | 31398 | 23146 |
| Amadeus IT Group SA, Class A, non-registered shares  | 302322 | 22213 |
| Sony Group Corp.  | 608900 | 17841 |
| Industria de Diseno Textil SA  | 284572 | 15928 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 6971 | 14442 |
| Suzuki Motor Corp.  | 666600 | 10421 |
| Ferrari NV  | 22998 | 9012 |
|  |  | 113003 |
| **Consumer staples 7.30%** | **Consumer staples 7.30%** | **Consumer staples 7.30%** |
| L'Oreal SA, non-registered shares  | 50675 | 22079 |
| Nestle SA  | 198009 | 19678 |
| British American Tobacco PLC  | 264967 | 15515 |
| Imperial Brands PLC  | 344414 | 14634 |
| Danone SA  | 151144 | 13500 |
| Anheuser-Busch InBev SA/NV  | 168964 | 10392 |
|  |  | 95798 |
| **Utilities 4.10%** | **Utilities 4.10%** | **Utilities 4.10%** |
| RWE AG  | 449505 | 22807 |
| Engie SA  | 759829 | 19303 |
| Iberdrola SA, non-registered shares  | 551917 | 11642 |
|  |  | 53752 |
| **Materials 3.20%** | **Materials 3.20%** | **Materials 3.20%** |
| Air Liquide SA  | 83023 | 15902 |
| Shin-Etsu Chemical Co., Ltd.  | 451100 | 13584 |
| Barrick Mining Corp.  | 302845 | 12520 |
|  |  | 42006 |
| **Communication services 2.14%** | **Communication services 2.14%** | **Communication services 2.14%** |
| Nintendo Co., Ltd.  | 181300 | 15420 |
| Tencent Holdings, Ltd.  | 160900 | 12637 |
|  |  | 28057 |
| **Energy 1.26%** | **Energy 1.26%** | **Energy 1.26%** |
| TotalEnergies SE  | 251350 | 16561 |
| **Total common stocks** (cost: $1,135,104,000) |  | 1280522 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **31** |

---

------

Capital Group International Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Short-term securities 2.36% | Shares | Value<br> (000)<br>|
| **Money market investments 2.36%** | **Money market investments 2.36%** | **Money market investments 2.36%** |
| Capital Group Central Cash Fund 3.94% <sup>(b)(c)</sup>  | 310041 | $31001 |
| **Total short-term securities** (cost: $31,001,000) |  | 31001 |
| **Total investment securities 99.93%** (cost: $1,166,105,000) |  | 1311523 |
| Other assets less liabilities 0.07% |  | 969 |
| **Net assets 100.00%** |  | $1312492 |

---

**Investments in affiliates** <sup>(c)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 2.36%** | **Short-term securities 2.36%** | **Short-term securities 2.36%** | **Short-term securities 2.36%** | **Short-term securities 2.36%** | **Short-term securities 2.36%** | **Short-term securities 2.36%** | **Short-term securities 2.36%** |
| **Money market investments 2.36%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(b)</sup> | $31921 | &nbsp;&nbsp; $115436 | &nbsp;&nbsp; $116347 | &nbsp;&nbsp; $(7)<br>| &nbsp;&nbsp; $(2)<br>| &nbsp;&nbsp; $31001 | &nbsp;&nbsp; $775 |

---

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(c)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **32** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group International Focus Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 99.50% | Shares | Value<br> (000)<br>|
| **Industrials 17.58%** | **Industrials 17.58%** | **Industrials 17.58%** |
| Airbus SE, non-registered shares  | 690848 | $163843 |
| Rolls-Royce Holdings PLC  | 5505081 | 77873 |
| Recruit Holdings Co., Ltd.  | 1518100 | 77840 |
| Siemens AG  | 248380 | 65778 |
| Volvo AB, Class B  | 1829151 | 54791 |
| Techtronic Industries Co., Ltd.  | 4483000 | 52455 |
| MTU Aero Engines AG  | 124002 | 50676 |
| Melrose Industries PLC  | 5928805 | 46723 |
| Diploma PLC  | 557916 | 40384 |
| Localiza Rent a Car SA, ordinary nominative shares  | 4113139 | 34891 |
| Hitachi, Ltd.  | 945200 | 30074 |
| Schneider Electric SE  | 100127 | 26830 |
| Safran SA  | 63141 | 21263 |
| Ashtead Group PLC  | 208769 | 13350 |
|  |  | 756771 |
| **Financials 17.10%** | **Financials 17.10%** | **Financials 17.10%** |
| Standard Chartered PLC  | 6754751 | 149722 |
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 5289014 | 91976 |
| Banco Bilbao Vizcaya Argentaria SA  | 4201674 | 90485 |
| Mizuho Financial Group, Inc.  | 1903800 | 66732 |
| KB Financial Group, Inc.  | 743689 | 63110 |
| ING Groep NV  | 2128342 | 55179 |
| AIA Group, Ltd.  | 4619800 | 47825 |
| Banco Santander SA  | 4409214 | 47275 |
| 3i Group PLC  | 999135 | 41792 |
| Banco BPM SpA  | 2314299 | 33329 |
| Tokio Marine Holdings, Inc.  | 717000 | 25297 |
| Bank Central Asia Tbk PT  | 47501400 | 23601 |
|  |  | 736323 |
| **Information technology 14.65%** | **Information technology 14.65%** | **Information technology 14.65%** |
| Taiwan Semiconductor Manufacturing Co., Ltd.  | 5869000 | 269280 |
| SK hynix, Inc.  | 255056 | 91918 |
| ASML Holding NV  | 81377 | 85278 |
| Tokyo Electron, Ltd.  | 402100 | 81893 |
| SAP SE  | 276381 | 66862 |
| Samsung Electronics Co., Ltd.  | 521542 | 35641 |
|  |  | 630872 |
| **Communication services 10.91%** | **Communication services 10.91%** | **Communication services 10.91%** |
| SoftBank Group Corp.  | 1659200 | 178788 |
| Tencent Holdings, Ltd.  | 1059100 | 83182 |
| Bharti Airtel, Ltd.  | 3298739 | 77505 |
| Deutsche Telekom AG  | 1420853 | 45754 |
| Nintendo Co., Ltd.  | 386500 | 32872 |
| Universal Music Group NV  | 1027138 | 26308 |
| Singapore Telecommunications, Ltd.  | 6993100 | 25526 |
|  |  | 469935 |
| **Materials 9.67%** | **Materials 9.67%** | **Materials 9.67%** |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 6678778 | 152204 |
| Ivanhoe Mines, Ltd., Class A <sup>(a)</sup>  | 7768455 | 81291 |
| Grupo Mexico, SAB de CV, Series B  | 6697859 | 58368 |
| Nitto Denko Corp.  | 1989000 | 49184 |
| Anglo American PLC  | 1149665 | 43413 |
| Shin-Etsu Chemical Co., Ltd.  | 1054900 | 31767 |
|  |  | 416227 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **33** |

---

------

Capital Group International Focus Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Consumer discretionary 7.93%** | **Consumer discretionary 7.93%** | **Consumer discretionary 7.93%** |
| Compagnie Financiere Richemont SA, Class A  | 233051 | $49407 |
| MercadoLibre, Inc. <sup>(a)</sup>  | 22364 | 46333 |
| Trip.com Group, Ltd.  | 633179 | 43509 |
| Maruti Suzuki India, Ltd.  | 241626 | 42951 |
| Kering SA  | 110285 | 37458 |
| Moncler SpA  | 489497 | 33002 |
| Flutter Entertainment PLC <sup>(a)</sup>  | 150537 | 31434 |
| Sea, Ltd., Class A (ADR) <sup>(a)</sup>  | 208462 | 28978 |
| Ferrari NV  | 71870 | 28162 |
|  |  | 341234 |
| **Health care 7.45%** | **Health care 7.45%** | **Health care 7.45%** |
| Daiichi Sankyo Co., Ltd.  | 4372300 | 108201 |
| Sanofi  | 713965 | 71026 |
| Novo Nordisk AS, Class B  | 1282284 | 63136 |
| AstraZeneca PLC  | 156239 | 28918 |
| Eurofins Scientific SE, non-registered shares  | 396553 | 26975 |
| Zealand Pharma AS <sup>(a)</sup>  | 280222 | 22476 |
|  |  | 320732 |
| **Consumer staples 6.25%** | **Consumer staples 6.25%** | **Consumer staples 6.25%** |
| British American Tobacco PLC (ADR)  | 1822831 | 106927 |
| Danone SA  | 615454 | 54972 |
| Ajinomoto Co., Inc.  | 1713000 | 39748 |
| L'Oreal SA, non-registered shares  | 89389 | 38947 |
| JBS NV (BDR) <sup>(a)</sup>  | 1936101 | 28528 |
|  |  | 269122 |
| **Energy 6.11%** | **Energy 6.11%** | **Energy 6.11%** |
| Reliance Industries, Ltd.  | 6509816 | 114080 |
| Canadian Natural Resources, Ltd. (CAD denominated)  | 3131408 | 105990 |
| Cenovus Energy, Inc.  | 2408088 | 42969 |
|  |  | 263039 |
| **Utilities 1.85%** | **Utilities 1.85%** | **Utilities 1.85%** |
| Gulf Development PCL <sup>(a)</sup>  | 25481467 | 32253 |
| Engie SA  | 994583 | 25266 |
| Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP, ordinary nominative <br> shares  | 838317 | 22158 |
|  |  | 79677 |
| **Total common stocks** (cost: $3,386,217,000) |  | 4283932 |
| Short-term securities 0.68% |  |  |
| **Money market investments 0.68%** | **Money market investments 0.68%** | **Money market investments 0.68%** |
| Capital Group Central Cash Fund 3.94% <sup>(b)(c)</sup>  | 289770 | 28974 |
| **Total short-term securities** (cost: $28,973,000) |  | 28974 |
| **Total investment securities 100.18%** (cost: $3,415,190,000) |  | 4312906 |
| Other assets less liabilities (0.18)% |  | (7550)<br>|
| **Net assets 100.00%** |  | $4305356 |

---

---

| | |
|:---|:---|
| **34** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group International Focus Equity ETF (continued)

**Investments in affiliates** <sup>(c)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 0.68%** | **Short-term securities 0.68%** | **Short-term securities 0.68%** | **Short-term securities 0.68%** | **Short-term securities 0.68%** | **Short-term securities 0.68%** | **Short-term securities 0.68%** | **Short-term securities 0.68%** |
| **Money market investments 0.68%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(b)</sup> | $140081 | &nbsp;&nbsp; $731468 | &nbsp;&nbsp; $842597 | &nbsp;&nbsp; $31 | &nbsp;&nbsp; $(9)<br>| &nbsp;&nbsp; $28974 | &nbsp;&nbsp; $2272 |

---

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(c)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| CAD = Canadian dollars |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **35** |

---

------

Capital Group New Geography Equity ETFunaudited

**Investment portfolio** November 30, 2025

---

| | | |
|:---|:---|:---|
| Common stocks 97.82% | Shares | Value<br> (000)<br>|
| **Information technology 22.67%** | **Information technology 22.67%** | **Information technology 22.67%** |
| Taiwan Semiconductor Manufacturing Co., Ltd. (ADR)  | 305698 | $89114 |
| SK hynix, Inc.  | 83138 | 29962 |
| Broadcom, Inc.  | 66146 | 26654 |
| Microsoft Corp.  | 53676 | 26409 |
| NVIDIA Corp.  | 97069 | 17181 |
| ASML Holding NV  | 9014 | 9446 |
| ASML Holding NV (ADR)  | 3394 | 3598 |
| Tokyo Electron, Ltd.  | 55200 | 11242 |
| KLA Corp.  | 6319 | 7428 |
| Xiaomi Corp., Class B <sup>(a)</sup>  | 843600 | 4445 |
| Cloudflare, Inc., Class A <sup>(a)</sup>  | 20704 | 4145 |
| SAP SE  | 15947 | 3858 |
| Elite Material Co., Ltd.  | 76000 | 3693 |
| MediaTek, Inc.  | 77000 | 3422 |
| Capgemini SE  | 21596 | 3377 |
| Samsung Electronics Co., Ltd.  | 48806 | 3335 |
| Intel Corp. <sup>(a)</sup>  | 64542 | 2618 |
| Accton Technology Corp.  | 72000 | 2351 |
| Jentech Precision Industrial Co., Ltd.  | 24000 | 2221 |
| E Ink Holdings, Inc.  | 312000 | 1909 |
| Micron Technology, Inc.  | 6108 | 1444 |
| Coforge, Ltd.  | 65638 | 1401 |
| Keyence Corp.  | 3400 | 1157 |
| Advantech Co., Ltd.  | 95000 | 872 |
|  |  | 261282 |
| **Financials 18.54%** | **Financials 18.54%** | **Financials 18.54%** |
| Nu Holdings, Ltd., Class A <sup>(a)</sup>  | 992827 | 17265 |
| Banco Bilbao Vizcaya Argentaria SA  | 768855 | 16558 |
| Mastercard, Inc., Class A  | 23314 | 12835 |
| AIA Group, Ltd.  | 873400 | 9042 |
| Standard Chartered PLC  | 403060 | 8934 |
| Capitec Bank Holdings, Ltd.  | 37830 | 8585 |
| Kotak Mahindra Bank, Ltd.  | 343901 | 8168 |
| HDFC Bank, Ltd.  | 719068 | 8100 |
| UniCredit SpA  | 93768 | 6971 |
| Abu Dhabi Islamic Bank PJSC  | 1265318 | 6856 |
| XP, Inc., Class A  | 300291 | 5919 |
| KB Financial Group, Inc.  | 68868 | 5844 |
| Eurobank Ergasias Services and Holdings SA  | 1363159 | 5387 |
| PICC Property and Casualty Co., Ltd., Class H  | 2330000 | 5285 |
| PB Fintech, Ltd. <sup>(a)</sup>  | 232416 | 4726 |
| Al Rajhi Banking and Investment Corp., non-registered shares  | 181094 | 4627 |
| Brookfield Corp., Class A  | 93891 | 4413 |
| Axis Bank, Ltd.  | 276290 | 3953 |
| Cholamandalam Investment and Finance Co., Ltd.  | 201003 | 3901 |
| Banco Santander SA  | 362247 | 3884 |
| Hana Financial Group, Inc.  | 57532 | 3650 |
| National Bank of Greece SA  | 222592 | 3486 |
| Visa, Inc., Class A  | 10232 | 3422 |
| ICICI Bank, Ltd. (ADR)  | 108438 | 3386 |
| Hong Kong Exchanges and Clearing, Ltd.  | 59000 | 3114 |
| B3 SA - Brasil, Bolsa, Balcao  | 1108623 | 3109 |
| Banco BTG Pactual SA, units  | 304071 | 3078 |
| AU Small Finance Bank, Ltd.  | 285366 | 3048 |
| Bank of the Philippine Islands  | 1455570 | 2891 |
| HSBC Holdings PLC  | 201848 | 2861 |
| Woori Financial Group, Inc.  | 157247 | 2839 |
| Shriram Finance, Ltd.  | 295462 | 2813 |
| China Merchants Bank Co., Ltd., Class H  | 410500 | 2757 |
| Commercial International Bank - Egypt (CIB) SAE (GDR)  | 1227076 | 2700 |
| Bajaj Finance, Ltd.  | 232528 | 2697 |

---

---

| | |
|:---|:---|
| **36** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group New Geography Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Financials (continued)** | **Financials (continued)** | **Financials (continued)** |
| Emirates NBD Bank PJSC  | 377966 | $2511 |
| Grupo Financiero Banorte, SAB de CV, Series O  | 258647 | 2473 |
| Futu Holdings, Ltd. (ADR)  | 13753 | 2333 |
| People's Insurance Co. (Group) of China, Ltd. (The), Class H  | 2457000 | 2225 |
| Aon PLC, Class A  | 5795 | 2051 |
| BSE, Ltd.  | 62673 | 2034 |
| Samsung Life Insurance Co., Ltd.  | 17783 | 1849 |
| Bank Central Asia Tbk PT  | 2274100 | 1130 |
|  |  | 213710 |
| **Consumer discretionary 12.69%** | **Consumer discretionary 12.69%** | **Consumer discretionary 12.69%** |
| MercadoLibre, Inc. <sup>(a)</sup>  | 10532 | 21820 |
| Trip.com Group, Ltd. (ADR)  | 161836 | 11315 |
| Trip.com Group, Ltd.  | 107950 | 7418 |
| Alibaba Group Holding, Ltd. (ADR)  | 85795 | 13496 |
| LVMH Moet Hennessy-Louis Vuitton SE  | 17574 | 12955 |
| Midea Group Co., Ltd., Class A  | 940800 | 10613 |
| Eicher Motors, Ltd.  | 101824 | 8029 |
| H World Group, Ltd. (ADR)  | 123375 | 5688 |
| Galaxy Entertainment Group, Ltd.  | 894000 | 4621 |
| TVS Motor Co., Ltd.  | 114329 | 4514 |
| Compagnie Financiere Richemont SA, Class A  | 19359 | 4104 |
| Prosus NV, Class N  | 63942 | 4025 |
| BYD Co., Ltd., Class H  | 302200 | 3784 |
| Jumbo SA  | 116255 | 3690 |
| Sea, Ltd., Class A (ADR) <sup>(a)</sup>  | 21188 | 2945 |
| Vibra Energia SA  | 610857 | 2849 |
| Sands China, Ltd.  | 1011600 | 2754 |
| Hyundai Motor Co.  | 14857 | 2642 |
| Wynn Resorts, Ltd.  | 19188 | 2469 |
| Maruti Suzuki India, Ltd.  | 13743 | 2443 |
| Ryohin Keikaku Co., Ltd.  | 116700 | 2316 |
| Naspers, Ltd., Class N  | 35581 | 2225 |
| Meituan, Class B <sup>(a)</sup>  | 168000 | 2212 |
| PDD Holdings, Inc. (ADR) <sup>(a)</sup>  | 16140 | 1874 |
| Eternal, Ltd. <sup>(a)</sup>  | 481419 | 1615 |
| Shenzhou International Group Holdings, Ltd.  | 154500 | 1374 |
| Amadeus IT Group SA, Class A, non-registered shares  | 16893 | 1241 |
| Li Ning Co., Ltd.  | 527500 | 1176 |
|  |  | 146207 |
| **Industrials 12.27%** | **Industrials 12.27%** | **Industrials 12.27%** |
| Airbus SE, non-registered shares  | 67267 | 15953 |
| Rolls-Royce Holdings PLC  | 768355 | 10869 |
| General Electric Co.  | 33763 | 10076 |
| Hitachi, Ltd.  | 300000 | 9545 |
| Kanzhun, Ltd., Class A (ADR)  | 346308 | 7653 |
| Copa Holdings SA, Class A  | 54226 | 6605 |
| Safran SA  | 16702 | 5624 |
| Localiza Rent a Car SA, ordinary nominative shares  | 581830 | 4936 |
| Techtronic Industries Co., Ltd.  | 384500 | 4499 |
| Motiva Infraestrutura de Mobilidade SA  | 1431526 | 4286 |
| International Container Terminal Services, Inc.  | 434320 | 4018 |
| Contemporary Amperex Technology Co., Ltd., Class A  | 73400 | 3869 |
| Grupo Aeroportuario del Pacifico, SAB de CV, Class B  | 151765 | 3700 |
| BAE Systems PLC  | 166326 | 3636 |
| Uber Technologies, Inc. <sup>(a)</sup>  | 41357 | 3620 |
| AGCO Corp.  | 33406 | 3540 |
| Shenzhen Inovance Technology Co., Ltd., Class A  | 335800 | 3352 |
| WEG SA  | 384790 | 3192 |
| Leonardo SpA  | 55267 | 3007 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **37** |

---

------

Capital Group New Geography Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Industrials (continued)** | **Industrials (continued)** | **Industrials (continued)** |
| Larsen & Toubro, Ltd.  | 62948 | $2864 |
| Daikin Industries, Ltd.  | 22000 | 2858 |
| IHI Corp.  | 156600 | 2794 |
| TransDigm Group, Inc.  | 1760 | 2394 |
| Weichai Power Co., Ltd., Class A  | 946900 | 2315 |
| DSV A/S  | 9173 | 2091 |
| Jiangsu Hengli Hydraulic Co., Ltd., Class A  | 144500 | 2068 |
| Aselan Elektronik Sanayi ve Ticaret AS  | 474801 | 2049 |
| Siemens AG  | 7498 | 1986 |
| Rumo SA  | 625456 | 1976 |
| Mitsubishi Heavy Industries, Ltd.  | 74200 | 1876 |
| Carrier Global Corp.  | 29112 | 1598 |
| Full Truck Alliance Co., Ltd., Class A (ADR)  | 135550 | 1538 |
| InPost SA <sup>(a)</sup>  | 92872 | 1088 |
|  |  | 141475 |
| **Communication services 10.81%** | **Communication services 10.81%** | **Communication services 10.81%** |
| Tencent Holdings, Ltd.  | 426928 | 33531 |
| Alphabet, Inc., Class A  | 27730 | 8878 |
| Alphabet, Inc., Class C  | 21276 | 6811 |
| Meta Platforms, Inc., Class A  | 24179 | 15667 |
| Bharti Airtel, Ltd.  | 628565 | 14768 |
| NetEase, Inc.  | 221700 | 6094 |
| NetEase, Inc. (ADR)  | 29874 | 4124 |
| MTN Group, Ltd.  | 924441 | 8529 |
| Netflix, Inc. <sup>(a)</sup>  | 43714 | 4703 |
| America Movil, SAB de CV, Class B (ADR)  | 176980 | 4085 |
| True Corp. PCL, foreign registered shares  | 7006600 | 2351 |
| True Corp. PCL, nonvoting depository receipts  | 2031100 | 681 |
| Tencent Music Entertainment Group, Class A (ADR)  | 160491 | 2961 |
| KT Corp. (ADR)  | 152648 | 2803 |
| Telkom Indonesia (Persero) Tbk PT, Class B  | 13184300 | 2778 |
| Spotify Technology SA <sup>(a)</sup>  | 3931 | 2354 |
| Baidu, Inc., Class A (ADR) <sup>(a)</sup>  | 16098 | 1882 |
| TIM SA  | 334249 | 1587 |
|  |  | 124587 |
| **Health care 5.74%** | **Health care 5.74%** | **Health care 5.74%** |
| Max Healthcare Institute, Ltd.  | 856241 | 11131 |
| Novo Nordisk AS, Class B  | 216634 | 10666 |
| AstraZeneca PLC  | 40942 | 7578 |
| Thermo Fisher Scientific, Inc.  | 12602 | 7446 |
| Eli Lilly and Co.  | 6111 | 6572 |
| Laurus Labs, Ltd.  | 521532 | 6013 |
| BeOne Medicines, Ltd. (ADR) <sup>(a)</sup>  | 10290 | 3505 |
| Innovent Biologics, Inc. <sup>(a)</sup>  | 237500 | 2870 |
| Jiangsu Hengrui Pharmaceutical Co., Ltd., Class A  | 298050 | 2614 |
| Danaher Corp.  | 8782 | 1992 |
| EssilorLuxottica SA  | 5185 | 1857 |
| Abbott Laboratories  | 12543 | 1617 |
| Zai Lab, Ltd. (ADR) <sup>(a)</sup>  | 58189 | 1188 |
| Teva Pharmaceutical Industries, Ltd. (ADR) <sup>(a)</sup>  | 43408 | 1170 |
|  |  | 66219 |
| **Materials 5.44%** | **Materials 5.44%** | **Materials 5.44%** |
| Vale SA (ADR), ordinary nominative shares  | 576347 | 7268 |
| Grupo Mexico, SAB de CV, Series B  | 819862 | 7145 |
| First Quantum Minerals, Ltd. <sup>(a)</sup>  | 247918 | 5650 |
| Barrick Mining Corp.  | 134219 | 5549 |
| Glencore PLC <sup>(a)</sup>  | 1038136 | 4961 |

---

---

| | |
|:---|:---|
| **38** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital Group New Geography Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Common stocks (continued) | Shares | Value<br> (000)<br>|
| **Materials (continued)** | **Materials (continued)** | **Materials (continued)** |
| Amcor PLC (CDI)  | 466097 | $3996 |
| Nitto Denko Corp.  | 144200 | 3566 |
| APL Apollo Tubes, Ltd.  | 183196 | 3520 |
| BASF SE  | 51200 | 2667 |
| Valterra Platinum, Ltd.  | 36994 | 2573 |
| Southern Copper Corp.  | 17455 | 2353 |
| Freeport-McMoRan, Inc.  | 53437 | 2297 |
| Linde PLC  | 4718 | 1936 |
| Sika AG  | 9805 | 1931 |
| Wheaton Precious Metals Corp. (CAD denominated)  | 17474 | 1919 |
| Saudi Basic Industries Corp. non-registered shares  | 124388 | 1829 |
| Anhui Conch Cement Co., Ltd., Class H  | 603000 | 1814 |
| Nutrien, Ltd.  | 28774 | 1674 |
|  |  | 62648 |
| **Consumer staples 4.37%** | **Consumer staples 4.37%** | **Consumer staples 4.37%** |
| Nestle SA  | 105474 | 10482 |
| Kweichow Moutai Co., Ltd., Class A  | 40900 | 8380 |
| ITC, Ltd.  | 931286 | 4209 |
| Arca Continental, SAB de CV  | 404683 | 4129 |
| JBS NV (BDR) <sup>(a)</sup>  | 233028 | 3434 |
| Shoprite Holdings, Ltd.  | 183866 | 2950 |
| Carlsberg A/S, Class B  | 22242 | 2762 |
| Anheuser-Busch InBev SA/NV  | 44725 | 2751 |
| Dino Polska SA, non-registered shares <sup>(a)</sup>  | 217565 | 2432 |
| KT&G Corp.  | 20591 | 2037 |
| Ajinomoto Co., Inc.  | 82600 | 1917 |
| British American Tobacco PLC  | 31039 | 1817 |
| United Spirits, Ltd.  | 99244 | 1611 |
| Tsingtao Brewery Co., Ltd., Class H  | 216000 | 1459 |
|  |  | 50370 |
| **Energy 2.28%** | **Energy 2.28%** | **Energy 2.28%** |
| Reliance Industries, Ltd.  | 482541 | 8456 |
| TotalEnergies SE  | 103411 | 6814 |
| ADNOC Drilling Co. PJSC  | 2268607 | 3230 |
| Adnoc Gas PLC  | 2548084 | 2262 |
| Vista Energy, SAB de CV, Class A (ADR) <sup>(a)</sup>  | 45092 | 2217 |
| Petroleo Brasileiro SA PETROBRAS (ADR), ordinary nominative shares  | 161030 | 2019 |
| Chevron Corp.  | 8165 | 1234 |
|  |  | 26232 |
| **Real estate 1.69%** | **Real estate 1.69%** | **Real estate 1.69%** |
| Lodha Developers, Ltd.  | 774763 | 9945 |
| China Resources Mixc Lifestyle Services, Ltd.  | 736400 | 4192 |
| CK Asset Holdings, Ltd.  | 443000 | 2271 |
| China Resources Land, Ltd.  | 433000 | 1677 |
| Emaar Properties PJSC  | 378773 | 1372 |
|  |  | 19457 |
| **Utilities 1.32%** | **Utilities 1.32%** | **Utilities 1.32%** |
| Companhia de Saneamento Basico do Estado de Sao Paulo-SABESP, ordinary nominative <br> shares  | 182868 | 4833 |
| Equatorial Energia SA, ordinary nominative shares  | 497369 | 3707 |
| Power Grid Corp. of India, Ltd.  | 1142322 | 3448 |
| Gulf Development PCL <sup>(a)</sup>  | 2580904 | 3267 |
|  |  | 15255 |
| **Total common stocks** (cost: $993,858,000) |  | 1127442 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **39** |

---

------

Capital Group New Geography Equity ETF (continued)

---

| | | |
|:---|:---|:---|
| Preferred securities 0.58% | Shares | Value<br> (000)<br>|
| **Financials 0.30%** | **Financials 0.30%** | **Financials 0.30%** |
| Itau Unibanco Holding SA (ADR), preferred nominative shares  | 444931 | $3471 |
| **Information technology 0.28%** | **Information technology 0.28%** | **Information technology 0.28%** |
| Samsung Electronics Co., Ltd., nonvoting preferred shares  | 61812 | 3152 |
| **Consumer discretionary 0.00%** | **Consumer discretionary 0.00%** | **Consumer discretionary 0.00%** |
| TVS Motor Co., Ltd., 6.00% preferred shares <sup>(a)</sup>  | 330300 | 37 |
| **Total preferred securities** (cost: $5,351,000) |  | 6660 |
| Short-term securities 1.72% |  |  |
| **Money market investments 1.72%** | **Money market investments 1.72%** | **Money market investments 1.72%** |
| Capital Group Central Cash Fund 3.94% <sup>(b)(c)</sup>  | 198443 | 19842 |
| **Total short-term securities** (cost: $19,842,000) |  | 19842 |
| **Total investment securities 100.12%** (cost: $1,019,051,000) |  | 1153944 |
| Other assets less liabilities (0.12)% |  | (1439)<br>|
| **Net assets 100.00%** |  | $1152505 |

---

**Investments in affiliates** <sup>(c)</sup>

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  | Value at <br>6/1/2025 <br>(000)<br>| Additions <br>(000)<br>| Reductions <br>(000)<br>| Net <br>realized <br>gain (loss) <br>(000)<br>| Net <br>unrealized <br>appreciation <br>(depreciation) <br>(000)<br>| Value at <br>11/30/2025 <br>(000)<br>| Dividend <br>or interest <br>income <br>(000)<br>|
| **Short-term securities 1.72%** | **Short-term securities 1.72%** | **Short-term securities 1.72%** | **Short-term securities 1.72%** | **Short-term securities 1.72%** | **Short-term securities 1.72%** | **Short-term securities 1.72%** | **Short-term securities 1.72%** |
| **Money market investments 1.72%** |  |  |  |  |  |  |  |
| Capital Group Central Cash Fund 3.94% <sup>(b)</sup> | $13985 | &nbsp;&nbsp; $150391 | &nbsp;&nbsp; $144533 | &nbsp;&nbsp; $1 | &nbsp;&nbsp; $(2)<br>| &nbsp;&nbsp; $19842 | &nbsp;&nbsp; $466 |

---

<sup>(a)</sup> Security did not produce income during the last 12 months.

<sup>(b)</sup> Rate represents the seven-day yield at 11/30/2025.

<sup>(c)</sup> Affiliate of the fund or part of the same "group of investment companies" as the fund, as defined under the Investment Company Act of 1940, as amended.

---

| |
|:---|
| **Key to abbreviation(s)** |
| ADR = American Depositary Receipts |
| BDR = Brazilian Depositary Receipts |
| CAD = Canadian dollars |
| CDI = CREST Depository Interest |
| GDR = Global Depositary Receipts |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **40** | Capital Group Equity Exchange-Traded Funds |

---

------

Financial statementsunaudited

**Statements of assets and liabilities** at November 30, 2025(dollars and shares in thousands, except per-share amounts)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Conservative** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Core** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Dividend** <br>**Growers** <br>**ETF**<br>| &nbsp;&nbsp; **Dividend** <br>**Value** <br>**ETF**<br>|
| **Assets:** |  |  |  |  |
| Investment securities, at value: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1118314 | &nbsp;&nbsp;&nbsp; $7885282 | &nbsp;&nbsp;&nbsp; $3738956 | &nbsp;&nbsp;&nbsp; $24753151 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 24503 | &nbsp;&nbsp;&nbsp; 213894 | &nbsp;&nbsp;&nbsp; 108211 | &nbsp;&nbsp;&nbsp; 821658 |
| Cash | &nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp; 234 | &nbsp;&nbsp;&nbsp; 4542 |
| Cash denominated in currencies other than U.S. dollars | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; 812 | &nbsp;&nbsp;&nbsp; —<br> \*<br>|
| Cash collateral received for securities on loan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Receivables for: |  |  |  |  |
| Sales of investments | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Sales of fund's shares | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 10004 | &nbsp;&nbsp;&nbsp; — |
| Dividends and interest | &nbsp;&nbsp;&nbsp; 1575 | &nbsp;&nbsp;&nbsp; 5640 | &nbsp;&nbsp;&nbsp; 5705 | &nbsp;&nbsp;&nbsp; 23187 |
|  | &nbsp;&nbsp;&nbsp; 1144564 | &nbsp;&nbsp;&nbsp; 8105627 | &nbsp;&nbsp;&nbsp; 3863922 | &nbsp;&nbsp;&nbsp; 25602538 |
| **Liabilities:** |  |  |  |  |
| Collateral for securities on loan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Payables for: |  |  |  |  |
| Purchases of investments | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9486 | &nbsp;&nbsp;&nbsp; — |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp;&nbsp; 2128 | &nbsp;&nbsp;&nbsp; 1422 | &nbsp;&nbsp;&nbsp; 6657 |
| Non-U.S. taxes | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp;&nbsp; 2128 | &nbsp;&nbsp;&nbsp; 10908 | &nbsp;&nbsp;&nbsp; 6657 |
| **Net assets at November 30, 2025** | &nbsp;&nbsp;&nbsp; $1144271 | &nbsp;&nbsp;&nbsp; $8103499 | &nbsp;&nbsp;&nbsp; $3853014 | &nbsp;&nbsp;&nbsp; $25595881 |
| **Net assets consist of:** |  |  |  |  |
| Capital paid in on shares of beneficial interest | &nbsp;&nbsp;&nbsp; $1061907 | &nbsp;&nbsp;&nbsp; $6729516 | &nbsp;&nbsp;&nbsp; $3401998 | &nbsp;&nbsp;&nbsp; $21016282 |
| Total distributable earnings (accumulated loss) | &nbsp;&nbsp;&nbsp; 82364 | &nbsp;&nbsp;&nbsp; 1373983 | &nbsp;&nbsp;&nbsp; 451016 | &nbsp;&nbsp;&nbsp; 4579599 |
| **Net assets at November 30, 2025** | &nbsp;&nbsp;&nbsp; $1144271 | &nbsp;&nbsp;&nbsp; $8103499 | &nbsp;&nbsp;&nbsp; $3853014 | &nbsp;&nbsp;&nbsp; $25595881 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized<br>|  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp; $1144271 | &nbsp;&nbsp;&nbsp; $8103499 | &nbsp;&nbsp;&nbsp; $3853014 | &nbsp;&nbsp;&nbsp; $25595881 |
| Shares outstanding | &nbsp;&nbsp;&nbsp; 37164 | &nbsp;&nbsp;&nbsp; 200364 | &nbsp;&nbsp;&nbsp; 107844 | &nbsp;&nbsp;&nbsp; 584124 |
| Net asset value per share | $30.79 | $40.44 | $35.73 | $43.82 |
| Investment securities on loan, at value | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Investment securities, at cost: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1032469 | &nbsp;&nbsp;&nbsp; $6456765 | &nbsp;&nbsp;&nbsp; $3274984 | &nbsp;&nbsp;&nbsp; $20525129 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 24502 | &nbsp;&nbsp;&nbsp; 213883 | &nbsp;&nbsp;&nbsp; 108207 | &nbsp;&nbsp;&nbsp; 821687 |
| Cash denominated in currencies other than U.S. dollars, at <br> cost<br>| &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp;&nbsp; —<br> \*<br>|

---

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **41** |

---

------

Financial statements (continued)unaudited

**Statements of assets and liabilities** at November 30, 2025 (continued)(dollars and shares in thousands, except per-share amounts)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Global** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Global Growth** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Growth** <br>**ETF**<br>| &nbsp;&nbsp; **International** <br>**Core Equity** <br>**ETF**<br>|
| **Assets:** |  |  |  |  |
| Investment securities, at value: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1315023 | &nbsp;&nbsp;&nbsp; $7727208 | &nbsp;&nbsp;&nbsp; $18100199 | &nbsp;&nbsp;&nbsp; $777713 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 57271 | &nbsp;&nbsp;&nbsp; 162980 | &nbsp;&nbsp;&nbsp; 348493 | &nbsp;&nbsp;&nbsp; 15300 |
| Cash | &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp; 511 | &nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp;&nbsp; 62 |
| Cash denominated in currencies other than U.S. dollars | &nbsp;&nbsp;&nbsp; 191 | &nbsp;&nbsp;&nbsp; 1327 | &nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp; 461 |
| Cash collateral received for securities on loan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 976 | &nbsp;&nbsp;&nbsp; 731 | &nbsp;&nbsp;&nbsp; 126 |
| Receivables for: |  |  |  |  |
| Sales of investments | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 54813 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Sales of fund's shares | &nbsp;&nbsp;&nbsp; 1262 | &nbsp;&nbsp;&nbsp; 13825 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1266 |
| Dividends and interest | &nbsp;&nbsp;&nbsp; 864 | &nbsp;&nbsp;&nbsp; 6861 | &nbsp;&nbsp;&nbsp; 5020 | &nbsp;&nbsp;&nbsp; 1026 |
|  | &nbsp;&nbsp;&nbsp; 1374661 | &nbsp;&nbsp;&nbsp; 7968501 | &nbsp;&nbsp;&nbsp; 18454808 | &nbsp;&nbsp;&nbsp; 795954 |
| **Liabilities:** |  |  |  |  |
| Collateral for securities on loan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 9756 | &nbsp;&nbsp;&nbsp; 7314 | &nbsp;&nbsp;&nbsp; 1256 |
| Payables for: |  |  |  |  |
| Purchases of investments | &nbsp;&nbsp;&nbsp; 1209 | &nbsp;&nbsp;&nbsp; 48905 | &nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp; 1223 |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 496 | &nbsp;&nbsp;&nbsp; 2980 | &nbsp;&nbsp;&nbsp; 5695 | &nbsp;&nbsp;&nbsp; 324 |
| Non-U.S. taxes | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2281 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 242 |
|  | &nbsp;&nbsp;&nbsp; 1705 | &nbsp;&nbsp;&nbsp; 63922 | &nbsp;&nbsp;&nbsp; 13173 | &nbsp;&nbsp;&nbsp; 3045 |
| **Net assets at November 30, 2025** | &nbsp;&nbsp;&nbsp; $1372956 | &nbsp;&nbsp;&nbsp; $7904579 | &nbsp;&nbsp;&nbsp; $18441635 | &nbsp;&nbsp;&nbsp; $792909 |
| **Net assets consist of:** |  |  |  |  |
| Capital paid in on shares of beneficial interest | &nbsp;&nbsp;&nbsp; $1252658 | &nbsp;&nbsp;&nbsp; $6524310 | &nbsp;&nbsp;&nbsp; $14571478 | &nbsp;&nbsp;&nbsp; $723041 |
| Total distributable earnings (accumulated loss) | &nbsp;&nbsp;&nbsp; 120298 | &nbsp;&nbsp;&nbsp; 1380269 | &nbsp;&nbsp;&nbsp; 3870157 | &nbsp;&nbsp;&nbsp; 69868 |
| **Net assets at November 30, 2025** | &nbsp;&nbsp;&nbsp; $1372956 | &nbsp;&nbsp;&nbsp; $7904579 | &nbsp;&nbsp;&nbsp; $18441635 | &nbsp;&nbsp;&nbsp; $792909 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized<br>|  |  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp; $1372956 | &nbsp;&nbsp;&nbsp; $7904579 | &nbsp;&nbsp;&nbsp; $18441635 | &nbsp;&nbsp;&nbsp; $792909 |
| Shares outstanding | &nbsp;&nbsp;&nbsp; 43524 | &nbsp;&nbsp;&nbsp; 228764 | &nbsp;&nbsp;&nbsp; 416364 | &nbsp;&nbsp;&nbsp; 25044 |
| Net asset value per share | $31.54 | $34.55 | $44.29 | $31.66 |
| Investment securities on loan, at value | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $9564 | &nbsp;&nbsp;&nbsp; $7156 | &nbsp;&nbsp;&nbsp; $1225 |
| Investment securities, at cost: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1196043 | &nbsp;&nbsp;&nbsp; $6293093 | &nbsp;&nbsp;&nbsp; $14057186 | &nbsp;&nbsp;&nbsp; $705483 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 57274 | &nbsp;&nbsp;&nbsp; 162978 | &nbsp;&nbsp;&nbsp; 348513 | &nbsp;&nbsp;&nbsp; 15300 |
| Cash denominated in currencies other than U.S. dollars, at <br> cost<br>| &nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp; 1323 | &nbsp;&nbsp;&nbsp; —<br> \*<br>| &nbsp;&nbsp;&nbsp; 461 |

---

Refer to the end of the statements of assets and liabilities for footnote(s).

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **42** | Capital Group Equity Exchange-Traded Funds |

---

------

Financial statements (continued)unaudited

**Statements of assets and liabilities** at November 30, 2025 (continued)(dollars and shares in thousands, except per-share amounts)

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **International** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **International** <br>**Focus Equity** <br>**ETF**<br>| &nbsp;&nbsp; **New Geography** <br>**Equity** <br>**ETF**<br>|
| **Assets:** |  |  |  |
| Investment securities, at value: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1280522 | &nbsp;&nbsp;&nbsp; $4283932 | &nbsp;&nbsp;&nbsp; $1134102 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 31001 | &nbsp;&nbsp;&nbsp; 28974 | &nbsp;&nbsp;&nbsp; 19842 |
| Cash | &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp; 52 | &nbsp;&nbsp;&nbsp; 102 |
| Cash denominated in currencies other than U.S. dollars | &nbsp;&nbsp;&nbsp; 782 | &nbsp;&nbsp;&nbsp; 1130 | &nbsp;&nbsp;&nbsp; 267 |
| Cash collateral received for securities on loan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Receivables for: |  |  |  |
| Sales of investments | &nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3837 |
| Sales of fund's shares | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Dividends and interest | &nbsp;&nbsp;&nbsp; 1540 | &nbsp;&nbsp;&nbsp; 6170 | &nbsp;&nbsp;&nbsp; 722 |
|  | &nbsp;&nbsp;&nbsp; 1314490 | &nbsp;&nbsp;&nbsp; 4320258 | &nbsp;&nbsp;&nbsp; 1158872 |
| **Liabilities:** |  |  |  |
| Collateral for securities on loan | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Payables for: |  |  |  |
| Purchases of investments | &nbsp;&nbsp;&nbsp; 1444 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 3445 |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 554 | &nbsp;&nbsp;&nbsp; 1903 | &nbsp;&nbsp;&nbsp; 573 |
| Non-U.S. taxes | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 12999 | &nbsp;&nbsp;&nbsp; 2349 |
|  | &nbsp;&nbsp;&nbsp; 1998 | &nbsp;&nbsp;&nbsp; 14902 | &nbsp;&nbsp;&nbsp; 6367 |
| **Net assets at November 30, 2025** | &nbsp;&nbsp;&nbsp; $1312492 | &nbsp;&nbsp;&nbsp; $4305356 | &nbsp;&nbsp;&nbsp; $1152505 |
| **Net assets consist of:** |  |  |  |
| Capital paid in on shares of beneficial interest | &nbsp;&nbsp;&nbsp; $1181903 | &nbsp;&nbsp;&nbsp; $3615161 | &nbsp;&nbsp;&nbsp; $1022378 |
| Total distributable earnings (accumulated loss) | &nbsp;&nbsp;&nbsp; 130589 | &nbsp;&nbsp;&nbsp; 690195 | &nbsp;&nbsp;&nbsp; 130127 |
| **Net assets at November 30, 2025** | &nbsp;&nbsp;&nbsp; $1312492 | &nbsp;&nbsp;&nbsp; $4305356 | &nbsp;&nbsp;&nbsp; $1152505 |
| Shares of beneficial interest issued and outstanding <br>(no stated par value) — unlimited shares authorized<br>|  |  |  |
| Net assets | &nbsp;&nbsp;&nbsp; $1312492 | &nbsp;&nbsp;&nbsp; $4305356 | &nbsp;&nbsp;&nbsp; $1152505 |
| Shares outstanding | &nbsp;&nbsp;&nbsp; 38244 | &nbsp;&nbsp;&nbsp; 144084 | &nbsp;&nbsp;&nbsp; 36404 |
| Net asset value per share | $34.32 | $29.88 | $31.66 |
| Investment securities on loan, at value | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Investment securities, at cost: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $1135104 | &nbsp;&nbsp;&nbsp; $3386217 | &nbsp;&nbsp;&nbsp; $999209 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 31001 | &nbsp;&nbsp;&nbsp; 28973 | &nbsp;&nbsp;&nbsp; 19842 |
| Cash denominated in currencies other than U.S. dollars, <br> at cost<br>| &nbsp;&nbsp;&nbsp; 781 | &nbsp;&nbsp;&nbsp; 1131 | &nbsp;&nbsp;&nbsp; 267 |

---

\* Amount less than one thousand.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **43** |

---

------

Financial statements (continued)unaudited

**Statements of operations** for the six months ended November 30, 2025(dollars in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Conservative** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Core** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Dividend** <br>**Growers** <br>**ETF**<br>| &nbsp;&nbsp; **Dividend** <br>**Value** <br>**ETF**<br>|
| **Investment income:** |  |  |  |  |
| Income (net of non-U.S. taxes\*): |  |  |  |  |
| Dividends: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $7473 | &nbsp;&nbsp;&nbsp; $43339 | &nbsp;&nbsp;&nbsp; $35585 | &nbsp;&nbsp;&nbsp; $181749 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 452 | &nbsp;&nbsp;&nbsp; 2816 | &nbsp;&nbsp;&nbsp; 2118 | &nbsp;&nbsp;&nbsp; 9569 |
|  | &nbsp;&nbsp;&nbsp; 7925 | &nbsp;&nbsp;&nbsp; 46155 | &nbsp;&nbsp;&nbsp; 37703 | &nbsp;&nbsp;&nbsp; 191318 |
| Securities lending income (net of fees) | &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp; 116 |
|  | &nbsp;&nbsp;&nbsp; 7929 | &nbsp;&nbsp;&nbsp; 46163 | &nbsp;&nbsp;&nbsp; 37715 | &nbsp;&nbsp;&nbsp; 191434 |
| Fees and expenses: |  |  |  |  |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 1230 | &nbsp;&nbsp;&nbsp; 11408 | &nbsp;&nbsp;&nbsp; 7311 | &nbsp;&nbsp;&nbsp; 35121 |
| Other | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp; 70 |
| Total fees and expenses | &nbsp;&nbsp;&nbsp; 1233 | &nbsp;&nbsp;&nbsp; 11431 | &nbsp;&nbsp;&nbsp; 7322 | &nbsp;&nbsp;&nbsp; 35191 |
| Net investment income | &nbsp;&nbsp;&nbsp; 6696 | &nbsp;&nbsp;&nbsp; 34732 | &nbsp;&nbsp;&nbsp; 30393 | &nbsp;&nbsp;&nbsp; 156243 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |  |
| Net realized gain (loss)\* on: |  |  |  |  |
| Investments in: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; (4530)<br>| &nbsp;&nbsp;&nbsp; (30083)<br>| &nbsp;&nbsp;&nbsp; (26576)<br>| &nbsp;&nbsp;&nbsp; (117105)<br>|
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (3)<br>| &nbsp;&nbsp;&nbsp; (31)<br>| &nbsp;&nbsp;&nbsp; (11)<br>| &nbsp;&nbsp;&nbsp; (147)<br>|
| In-kind redemptions | &nbsp;&nbsp;&nbsp; 4008 | &nbsp;&nbsp;&nbsp; 244301 | &nbsp;&nbsp;&nbsp; 51868 | &nbsp;&nbsp;&nbsp; 1151061 |
| Currency transactions | &nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp; (121)<br>| &nbsp;&nbsp;&nbsp; (66)<br>| &nbsp;&nbsp;&nbsp; (786)<br>|
|  | &nbsp;&nbsp;&nbsp; (532)<br>| &nbsp;&nbsp;&nbsp; 214066 | &nbsp;&nbsp;&nbsp; 25215 | &nbsp;&nbsp;&nbsp; 1033023 |
| Net unrealized appreciation (depreciation)\* on: |  |  |  |  |
| Investments in: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 71977 | &nbsp;&nbsp;&nbsp; 711746 | &nbsp;&nbsp;&nbsp; 262066 | &nbsp;&nbsp;&nbsp; 2315902 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (1)<br>| &nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp; (6)<br>| &nbsp;&nbsp;&nbsp; (77)<br>|
| Currency translations | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; (6)<br>| &nbsp;&nbsp;&nbsp; (70)<br>| &nbsp;&nbsp;&nbsp; (5)<br>|
|  | &nbsp;&nbsp;&nbsp; 71976 | &nbsp;&nbsp;&nbsp; 711733 | &nbsp;&nbsp;&nbsp; 261990 | &nbsp;&nbsp;&nbsp; 2315820 |
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| &nbsp;&nbsp;&nbsp; 71444 | &nbsp;&nbsp;&nbsp; 925799 | &nbsp;&nbsp;&nbsp; 287205 | &nbsp;&nbsp;&nbsp; 3348843 |
| **Net increase (decrease) in net assets resulting from** <br> **operations**<br>| &nbsp;&nbsp;&nbsp; $78140 | &nbsp;&nbsp;&nbsp; $960531 | &nbsp;&nbsp;&nbsp; $317598 | &nbsp;&nbsp;&nbsp; $3505086 |

---

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **44** | Capital Group Equity Exchange-Traded Funds |

---

------

Financial statements (continued)unaudited

**Statements of operations** for the six months ended November 30, 2025 (continued)(dollars in thousands)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **Global** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Global Growth** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **Growth** <br>**ETF**<br>| &nbsp;&nbsp; **International** <br>**Core Equity** <br>**ETF**<br>|
| **Investment income:** |  |  |  |  |
| Income (net of non-U.S. taxes\*): |  |  |  |  |
| Dividends: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $4998 | &nbsp;&nbsp;&nbsp; $35406 | &nbsp;&nbsp;&nbsp; $37859 | &nbsp;&nbsp;&nbsp; $4963 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 581 | &nbsp;&nbsp;&nbsp; 3357 | &nbsp;&nbsp;&nbsp; 4512 | &nbsp;&nbsp;&nbsp; 234 |
|  | &nbsp;&nbsp;&nbsp; 5579 | &nbsp;&nbsp;&nbsp; 38763 | &nbsp;&nbsp;&nbsp; 42371 | &nbsp;&nbsp;&nbsp; 5197 |
| Securities lending income (net of fees) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp; — |
|  | &nbsp;&nbsp;&nbsp; 5579 | &nbsp;&nbsp;&nbsp; 38780 | &nbsp;&nbsp;&nbsp; 42381 | &nbsp;&nbsp;&nbsp; 5197 |
| Fees and expenses: |  |  |  |  |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 2007 | &nbsp;&nbsp;&nbsp; 16388 | &nbsp;&nbsp;&nbsp; 30244 | &nbsp;&nbsp;&nbsp; 1313 |
| Other | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp; 51 | &nbsp;&nbsp;&nbsp; 2 |
| Total fees and expenses | &nbsp;&nbsp;&nbsp; 2010 | &nbsp;&nbsp;&nbsp; 16411 | &nbsp;&nbsp;&nbsp; 30295 | &nbsp;&nbsp;&nbsp; 1315 |
| Net investment income | &nbsp;&nbsp;&nbsp; 3569 | &nbsp;&nbsp;&nbsp; 22369 | &nbsp;&nbsp;&nbsp; 12086 | &nbsp;&nbsp;&nbsp; 3882 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |  |
| Net realized gain (loss)\* on: |  |  |  |  |
| Investments in: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; (12033)<br>| &nbsp;&nbsp;&nbsp; (176549)<br>| &nbsp;&nbsp;&nbsp; (200699)<br>| &nbsp;&nbsp;&nbsp; (4627)<br>|
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (3)<br>| &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>|
| In-kind redemptions | &nbsp;&nbsp;&nbsp; 13124 | &nbsp;&nbsp;&nbsp; 476484 | &nbsp;&nbsp;&nbsp; 443766 | &nbsp;&nbsp;&nbsp; 3724 |
| Currency transactions | &nbsp;&nbsp;&nbsp; (34)<br>| &nbsp;&nbsp;&nbsp; (14)<br>| &nbsp;&nbsp;&nbsp; (139)<br>| &nbsp;&nbsp;&nbsp; (26)<br>|
|  | &nbsp;&nbsp;&nbsp; 1054 | &nbsp;&nbsp;&nbsp; 299929 | &nbsp;&nbsp;&nbsp; 242928 | &nbsp;&nbsp;&nbsp; (929)<br>|
| Net unrealized appreciation (depreciation)\* on: |  |  |  |  |
| Investments in: |  |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 89006 | &nbsp;&nbsp;&nbsp; 594727 | &nbsp;&nbsp;&nbsp; 1882299 | &nbsp;&nbsp;&nbsp; 55418 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (3)<br>| &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>| &nbsp;&nbsp;&nbsp; (49)<br>| &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>|
| Currency translations | &nbsp;&nbsp;&nbsp; (12)<br>| &nbsp;&nbsp;&nbsp; (51)<br>| &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; (12)<br>|
|  | &nbsp;&nbsp;&nbsp; 88991 | &nbsp;&nbsp;&nbsp; 594676 | &nbsp;&nbsp;&nbsp; 1882254 | &nbsp;&nbsp;&nbsp; 55406 |
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| &nbsp;&nbsp;&nbsp; 90045 | &nbsp;&nbsp;&nbsp; 894605 | &nbsp;&nbsp;&nbsp; 2125182 | &nbsp;&nbsp;&nbsp; 54477 |
| **Net increase (decrease) in net assets resulting from** <br> **operations**<br>| &nbsp;&nbsp;&nbsp; $93614 | &nbsp;&nbsp;&nbsp; $916974 | &nbsp;&nbsp;&nbsp; $2137268 | &nbsp;&nbsp;&nbsp; $58359 |

---

Refer to the end of the statements of operations for footnote(s).

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **45** |

---

------

Financial statements (continued)unaudited

**Statements of operations** for the six months ended November 30, 2025 (continued)(dollars in thousands)

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **International** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **International** <br>**Focus Equity** <br>**ETF**<br>| &nbsp;&nbsp; **New Geography** <br>**Equity** <br>**ETF**<br>|
| **Investment income:** |  |  |  |
| Income (net of non-U.S. taxes\*): |  |  |  |
| Dividends: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; $7088 | &nbsp;&nbsp;&nbsp; $32167 | &nbsp;&nbsp;&nbsp; $5309 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp;&nbsp; 2272 | &nbsp;&nbsp;&nbsp; 466 |
|  | &nbsp;&nbsp;&nbsp; 7863 | &nbsp;&nbsp;&nbsp; 34439 | &nbsp;&nbsp;&nbsp; 5775 |
| Securities lending income (net of fees) | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp; — <br><sup>†</sup><br>|
|  | &nbsp;&nbsp;&nbsp; 7863 | &nbsp;&nbsp;&nbsp; 34453 | &nbsp;&nbsp;&nbsp; 5775 |
| Fees and expenses: |  |  |  |
| Investment advisory services | &nbsp;&nbsp;&nbsp; 2688 | &nbsp;&nbsp;&nbsp; 10780 | &nbsp;&nbsp;&nbsp; 2476 |
| Other | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp; 2 |
| Total fees and expenses | &nbsp;&nbsp;&nbsp; 2691 | &nbsp;&nbsp;&nbsp; 10793 | &nbsp;&nbsp;&nbsp; 2478 |
| Net investment income | &nbsp;&nbsp;&nbsp; 5172 | &nbsp;&nbsp;&nbsp; 23660 | &nbsp;&nbsp;&nbsp; 3297 |
| **Net realized gain (loss) and unrealized appreciation** <br> **(depreciation):**<br>|  |  |  |
| Net realized gain (loss)\* on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; (11497)<br>| &nbsp;&nbsp;&nbsp; (31144)<br>| &nbsp;&nbsp;&nbsp; (4892)<br>|
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (7)<br>| &nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp; 1 |
| In-kind redemptions | &nbsp;&nbsp;&nbsp; 6762 | &nbsp;&nbsp;&nbsp; 117083 | &nbsp;&nbsp;&nbsp; 3373 |
| Currency transactions | &nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp;&nbsp; (692)<br>| &nbsp;&nbsp;&nbsp; (88)<br>|
|  | &nbsp;&nbsp;&nbsp; (4627)<br>| &nbsp;&nbsp;&nbsp; 85278 | &nbsp;&nbsp;&nbsp; (1606)<br>|
| Net unrealized appreciation (depreciation)\* on: |  |  |  |
| Investments in: |  |  |  |
| Unaffiliated issuers | &nbsp;&nbsp;&nbsp; 68540 | &nbsp;&nbsp;&nbsp; 418673 | &nbsp;&nbsp;&nbsp; 103916 |
| Affiliated issuers | &nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp;&nbsp; (9)<br>| &nbsp;&nbsp;&nbsp; (2)<br>|
| Currency translations | &nbsp;&nbsp;&nbsp; (65)<br>| &nbsp;&nbsp;&nbsp; (135)<br>| &nbsp;&nbsp;&nbsp; (3)<br>|
|  | &nbsp;&nbsp;&nbsp; 68473 | &nbsp;&nbsp;&nbsp; 418529 | &nbsp;&nbsp;&nbsp; 103911 |
| Net realized gain (loss) and unrealized appreciation <br> (depreciation)<br>| &nbsp;&nbsp;&nbsp; 63846 | &nbsp;&nbsp;&nbsp; 503807 | &nbsp;&nbsp;&nbsp; 102305 |
| **Net increase (decrease) in net assets resulting from** <br> **operations**<br>| &nbsp;&nbsp;&nbsp; $69018 | &nbsp;&nbsp;&nbsp; $527467 | &nbsp;&nbsp;&nbsp; $105602 |

---

---

| | |
|:---|:---|
| \* | Additional information related to non-U.S. taxes is included in the notes to financial statements. |
| <sup>†</sup> | Amount less than one thousand. |

---

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **46** | Capital Group Equity Exchange-Traded Funds |

---

------

Financial statements (continued)

**Statements of changes in net assets**(dollars in thousands)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Conservative** <br>**Equity** <br>**ETF** | **Conservative** <br>**Equity** <br>**ETF** | **Core** <br>**Equity** <br>**ETF** | **Core** <br>**Equity** <br>**ETF** | **Dividend** <br>**Growers** <br>**ETF** | **Dividend** <br>**Growers** <br>**ETF** |
|  | Six months <br> ended <br>November 30, <br>2025\*<br>| Period ended <br>May 31, <br>2025<sup>†</sup><br>| Six months <br> ended <br>November 30, <br>2025\*<br>| Year ended <br>May 31, <br>2025<br>| Six months <br> ended <br>November 30, <br>2025\*<br>| Year ended <br>May 31, <br>2025<br>|
| **Operations:** |  |  |  |  |  |  |
| Net investment income | $6696 | $3016 | $34732 | $47931 | $30393 | $36499 |
| Net realized gain (loss) | (532)<br>| (4599)<br>| 214066 | 131859 | 25215 | 10937 |
| Net unrealized appreciation (depreciation) | 71976 | 13870 | 711733 | 268858 | 261990 | 180324 |
| Net increase (decrease) in net assets <br> resulting from operations<br>| 78140 | 12287 | 960531 | 448648 | 317598 | 227760 |
| **Distributions paid to shareholders** | (4403)<br>| (1857)<br>| (32986)<br>| (42811)<br>| (32504)<br>| (23975)<br>|
| **Net capital share transactions** | 696222 | 363882 | 1692715 | 2359081 | 1238245 | 1768682 |
| **Total increase (decrease) in net assets** | 769959 | 374312 | 2620260 | 2764918 | 1523339 | 1972467 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 374312 |  | 5483239 | 2718321 | 2329675 | 357208 |
| End of period | $1144271 | $374312 | $8103499 | $5483239 | $3853014 | $2329675 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Dividend** <br>**Value** <br>**ETF** | **Dividend** <br>**Value** <br>**ETF** | **Global** <br>**Equity** <br>**ETF** | **Global** <br>**Equity** <br>**ETF** | **Global Growth** <br>**Equity** <br>**ETF** | **Global Growth** <br>**Equity** <br>**ETF** |
|  | Six months <br> ended <br>November 30, <br>2025\*<br>| Year ended <br>May 31, <br>2025<br>| Six months <br> ended <br>November 30, <br>2025\*<br>| Period ended <br>May 31, <br>2025<sup>†</sup><br>| Six months <br> ended <br>November 30, <br>2025\*<br>| Year ended <br>May 31, <br>2025<br>|
| **Operations:** |  |  |  |  |  |  |
| Net investment income | $156243 | $202358 | $3569 | $2503 | $22369 | $50585 |
| Net realized gain (loss) | 1033023 | 655267 | 1054 | (4858)<br>| 299929 | (52711)<br>|
| Net unrealized appreciation (depreciation) | 2315820 | 720335 | 88991 | 29979 | 594676 | 280599 |
| Net increase (decrease) in net assets <br> resulting from operations<br>| 3505086 | 1577960 | 93614 | 27624 | 916974 | 278473 |
| **Distributions paid to shareholders** | (133976)<br>| (186907)<br>|  | (275)<br>| (59761)<br>| (45632)<br>|
| **Net capital share transactions** | 5547726 | 7040368 | 881336 | 370657 | 1232420 | 1986014 |
| **Total increase (decrease) in net assets** | 8918836 | 8431421 | 974950 | 398006 | 2089633 | 2218855 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 16677045 | 8245624 | 398006 |  | 5814946 | 3596091 |
| End of period | $25595881 | $16677045 | $1372956 | $398006 | $7904579 | $5814946 |

---

Refer to the end of the statements of changes in net assets for footnote(s).

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **47** |

---

------

Financial statements (continued)

**Statements of changes in net assets** (continued)(dollars in thousands)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Growth** <br>**ETF** | **Growth** <br>**ETF** | **International** <br>**Core Equity** <br>**ETF** | **International** <br>**Core Equity** <br>**ETF** | **International** <br>**Equity** <br>**ETF** | **International** <br>**Equity** <br>**ETF** |
|  | Six months <br> ended <br>November 30, <br>2025\*<br>| Year ended <br>May 31, <br>2025<br>| Six months <br> ended <br>November 30, <br>2025\*<br>| Period ended <br>May 31, <br>2025<sup>†</sup><br>| Six months <br> ended <br>November 30, <br>2025\*<br>| Year ended <br>May 31, <br>2025<br>|
| **Operations:** |  |  |  |  |  |  |
| Net investment income | $12086 | $22785 | $3882 | $2552 | $5172 | $7193 |
| Net realized gain (loss) | 242928 | 457757 | (929)<br>| (2767)<br>| (4627)<br>| (9550)<br>|
| Net unrealized appreciation (depreciation) | 1882254 | 1072523 | 55406 | 16573 | 68473 | 66341 |
| Net increase (decrease) in net assets <br> resulting from operations<br>| 2137268 | 1553065 | 58359 | 16358 | 69018 | 63984 |
| **Distributions paid to shareholders** |  | (26727)<br>| (3648)<br>| (610)<br>| (6303)<br>| (2252)<br>|
| **Net capital share transactions** | 4081668 | 4968073 | 513472 | 208978 | 574353 | 470426 |
| **Total increase (decrease) in net assets** | 6218936 | 6494411 | 568183 | 224726 | 637068 | 532158 |
| **Net assets:** |  |  |  |  |  |  |
| Beginning of period | 12222699 | 5728288 | 224726 |  | 675424 | 143266 |
| End of period | $18441635 | $12222699 | $792909 | $224726 | $1312492 | $675424 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **International** <br>**Focus Equity** <br>**ETF** | **International** <br>**Focus Equity** <br>**ETF** | **New Geography** <br>**Equity** <br>**ETF** | **New Geography** <br>**Equity** <br>**ETF** |
|  | Six months <br> ended <br>November 30, <br>2025\*<br>| Year ended <br>May 31, <br>2025<br>| Six months <br> ended <br>November 30, <br>2025\*<br>| Period ended <br>May 31, <br>2025<sup>†</sup><br>|
| **Operations:** |  |  |  |  |
| Net investment income | $23660 | $49778 | $3297 | $2100 |
| Net realized gain (loss) | 85278 | (48287)<br>| (1606)<br>| (5379)<br>|
| Net unrealized appreciation (depreciation) | 418529 | 90869 | 103911 | 28631 |
| Net increase (decrease) in net assets <br> resulting from operations<br>| 527467 | 92360 | 105602 | 25352 |
| **Distributions paid to shareholders** | (41005)<br>| (27876)<br>|  | (279)<br>|
| **Net capital share transactions** | 151408 | 1023754 | 612366 | 409464 |
| **Total increase (decrease) in net assets** | 637870 | 1088238 | 717968 | 434537 |
| **Net assets:** |  |  |  |  |
| Beginning of period | 3667486 | 2579248 | 434537 |  |
| End of period | $4305356 | $3667486 | $1152505 | $434537 |

---

\* Unaudited. <br> <sup>†</sup> For the period June 25, 2024, commencement of operations, through May 31, 2025.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **48** | Capital Group Equity Exchange-Traded Funds |

---

------

Notes to financial statementsunaudited

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization**

------

Capital Group Conservative Equity ETF ("Conservative Equity ETF"), Capital Group Core Equity ETF ("Core Equity ETF"), Capital Group Dividend Growers ETF ("Dividend Growers ETF"), Capital Group Dividend Value ETF ("Dividend Value ETF"), Capital Group Global Equity ETF ("Global Equity ETF"), Capital Group Global Growth Equity ETF ("Global Growth Equity ETF"), Capital Group Growth ETF ("Growth ETF"), Capital Group International Core Equity ETF ("International Core Equity ETF"), Capital Group International Equity ETF ("International Equity ETF"), Capital Group International Focus Equity ETF ("International Focus Equity ETF"), and Capital Group New Geography Equity ETF ("New Geography Equity ETF") (each a "fund", or collectively the "funds") each operate as an exchange-traded fund and are registered under the Investment Company Act of 1940, as amended, as open-end nondiversified management investment companies.

The funds' investment objectives are as follows:

**Conservative Equity ETF** – To strive for the balanced accomplishment of three objectives: current income, growth of capital and conservation of principal.

**Core Equity ETF** – To achieve long-term growth of capital and income.

**Dividend Growers ETF** – To provide long-term total returns.

**Dividend Value ETF** – To produce income exceeding the average yield on U.S. stocks generally and provide an opportunity for growth of principal consistent with sound common stock investing.

**Global Equity ETF** – To provide prudent growth of capital and conservation of principal.

**Global Growth Equity ETF** – To provide long-term growth of capital.

**Growth ETF** – To provide growth of capital.

**International Core Equity ETF** – To provide long-term growth of capital while providing current income.

**International Equity ETF** – To provide prudent growth of capital and conservation of principal.

**International Focus Equity ETF** – To provide long-term growth of capital.

**New Geography Equity ETF** – To provide long-term capital appreciation.

**2. Significant accounting policies**

------

Each fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board ("FASB"). Each fund's financial statements have been prepared to comply with U.S. generally accepted accounting principles ("U.S. GAAP"). These principles require the funds' investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The funds follow the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.

**Operating segments** – Each fund represents a single operating segment as the operating results of each fund are monitored as a whole and its long-term asset allocation is determined in accordance with the terms of its prospectus, based on defined investment objectives that are executed by the funds' portfolio management team. A senior executive team comprised of the funds' Principal Executive Officer and Principal Financial Officer, serves as the funds' chief operating decision maker ("CODM"), who act in accordance with Board of Trustee reviews and approvals. The CODM uses financial information, such as changes in net assets from operations, changes in net assets from fund share transactions, and income and expense ratios, consistent with that presented within the accompanying financial statements and financial highlights to assess each fund's profits and losses and to make resource allocation decisions. Segment assets are reflected in the statement of assets and liabilities as net assets, which consists primarily of investment securities, at value, and significant segment expenses are listed in the accompanying statement of operations.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **49** |

---

------

**Security transactions and related investment income** — Security transactions are recorded by the funds as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the funds will segregate liquid assets sufficient to meet their payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.

**Distributions paid to shareholders** — Income dividends and capital gain distributions are recorded on each fund's ex-dividend date.

**Currency translation** — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in each fund's statement of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.

**New accounting pronouncements** — In December 2023, the FASB issued Accounting Standards Update 2023-09 ("the ASU"), Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosures, including disclosure of income taxes paid disaggregated by jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024, with early adoption permitted. Management is currently evaluating the ASU and its impact to the financial statements.

**3. Valuation**

------

Capital Research and Management Company ("CRMC"), the funds' investment adviser, values each fund's investments at fair value as defined by U.S. GAAP. The net asset value per share of each fund is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 p.m. New York time, each day the New York Stock Exchange is open.

**Methods and inputs** — The funds' investment adviser uses the following methods and inputs to establish the fair value of each fund's assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.

Equity securities, including depositary receipts, are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.

Fixed-income securities, including short-term securities, are generally valued at evaluated prices obtained from third-party pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the funds are authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.

---

| | |
|:---|:---|
| **Fixed-income class** | **Examples of standard inputs** |
| All | &nbsp;&nbsp; Benchmark yields, transactions, bids, offers, quotations from dealers and <br> trading systems, new issues, spreads and other relationships observed in <br> the markets among comparable securities; and proprietary pricing <br> models such as yield measures calculated using factors such as cash flows, <br> financial or collateral performance and other reference data (collectively <br> referred to as "standard inputs")<br>|
| Corporate bonds, notes & loans; convertible securities | Standard inputs and underlying equity of the issuer |
| Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
| Mortgage-backed; asset-backed obligations | &nbsp;&nbsp; Standard inputs and cash flows, prepayment information, default rates, <br> delinquency and loss assumptions, collateral characteristics, credit <br> enhancements and specific deal information<br>|

---

---

| | |
|:---|:---|
| **50** | Capital Group Equity Exchange-Traded Funds |

---

------

Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the funds' investment adviser. The Capital Group Central Cash Fund ("CCF"), a fund within the Capital Group Central Fund Series ("Central Funds"), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF's portfolio securities. The underlying securities are valued based on the policies and procedures in CCF's statement of additional information.

Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the funds' investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by the funds' investment adviser and approved by each fund's board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security, restrictions on resale of the security, relevant financial or business developments of the issuer, actively traded similar or related securities, dealer or broker quotes, conversion or exchange rights on the security, related corporate actions, significant events occurring after the close of trading in the security, and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each fund is determined. Fair valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.

**Processes and structure** — Each fund's board of trustees has designated the funds' investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the "Committee") to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser's valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews facilitated by the investment adviser's global risk management group. The Committee reports changes to the fair valuation guidelines to the board of trustees. Each fund's board and audit committee also regularly review reports that describe fair value determinations and methods.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **51** |

---

------

**Classifications** — The funds' investment adviser classifies each fund's assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser's determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The funds' valuation levels as of November 30, 2025, were as follows (dollars in thousands):

**Conservative Equity ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**Core Equity ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**Dividend Growers ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**Dividend Value ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**Global Equity ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology  | $316884 | $8063 | $— | $324947 |
| Industrials  | 266535 |  |  | 266535 |
| Financials  | 214740 |  |  | 214740 |
| Communication services  | 117840 |  |  | 117840 |
| Health care  | 113317 |  |  | 113317 |
| Consumer discretionary  | 93409 |  |  | 93409 |
| Consumer staples  | 59539 |  |  | 59539 |
| Utilities  | 52889 |  |  | 52889 |
| Energy  | 36216 |  |  | 36216 |
| Materials  | 29549 |  |  | 29549 |
| Real estate  | 6042 |  |  | 6042 |
| Short-term securities  | 57271 |  |  | 57271 |
| Total | $1364231 | $8063 | $— | $1372294 |

---

---

| | |
|:---|:---|
| **52** | Capital Group Equity Exchange-Traded Funds |

---

------

**Global Growth Equity ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**Growth ETF** 

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology  | $5512762 | $— | $— | $5512762 |
| Communication services  | 3310346 |  |  | 3310346 |
| Consumer discretionary  | 2768847 |  |  | 2768847 |
| Health care  | 2184742 |  |  | 2184742 |
| Industrials  | 1727448 |  |  | 1727448 |
| Financials  | 1421081 |  |  | 1421081 |
| Consumer staples  | 350472 |  |  | 350472 |
| Materials  | 300271 |  |  | 300271 |
| Energy  | 264826 |  |  | 264826 |
| Utilities  | 135213 |  |  | 135213 |
| Real estate  | 117608 |  |  | 117608 |
| Rights & warrants  |  |  | —<br> \*<br>| —<br> \*<br>|
| Short-term securities  | 355076 |  |  | 355076 |
| Total | $18448692 | $— | $—<br> \*<br>| $18448692 |

---

\* Amount less than one thousand.

**International Core Equity ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**International Equity ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**International Focus Equity ETF**

At November 30, 2025, all of the fund's investment securities were classified as Level 1.

**New Geography Equity ETF** 

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment securities** | **Investment securities** | **Investment securities** | **Investment securities** |
|  | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Assets: |  |  |  |  |
| Common stocks: |  |  |  |  |
| Information technology  | $261282 | $— | $— | $261282 |
| Financials  | 213710 |  |  | 213710 |
| Consumer discretionary  | 146207 |  |  | 146207 |
| Industrials  | 141475 |  |  | 141475 |
| Communication services  | 124587 |  |  | 124587 |
| Health care  | 66219 |  |  | 66219 |
| Materials  | 62648 |  |  | 62648 |
| Consumer staples  | 50370 |  |  | 50370 |
| Energy  | 26232 |  |  | 26232 |
| Real estate  | 19457 |  |  | 19457 |
| Utilities  | 15255 |  |  | 15255 |
| Preferred securities  | 6623 | 37 |  | 6660 |
| Short-term securities  | 19842 |  |  | 19842 |
| Total | $1153907 | $37 | $— | $1153944 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **53** |

---

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**4. Risk factors**

------

Investing in each fund may involve certain risks including, but not limited to, those described below.

**Market conditions** — The prices of, and the income generated by, the common stocks and other securities held by a fund may decline due to various factors, including events or conditions affecting the general economy or particular industries or companies; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; levels of public debt and deficits; changes in inflation rates; and currency exchange rate, interest rate and commodity price fluctuations.

Economies and financial markets throughout the world are highly interconnected. Events (including public health emergencies, such as the spread of infectious disease), bank failures and other circumstances in one country or region could have impacts on global economies or markets. As a result, whether or not a fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund's investments may be negatively affected by developments in other countries and regions.

**Issuer risks** — The prices of, and the income generated by, securities held by a fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer's goods or services, poor management performance, major litigation, investigations or other controversies related to the issuer, changes in the issuer's financial condition or credit rating, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives and the market response to any such initiatives. An individual security may also be affected by factors relating to the industry or sector of the issuer or the securities markets as a whole, and conversely an industry or sector or the securities markets may be affected by a change in financial condition or other event affecting a single issuer.

**Investing in growth-oriented stocks** — Growth-oriented common stocks and other equity-type securities (such as preferred stocks) may involve larger price swings and greater potential for loss than other types of investments. These risks may be even greater in the case of smaller capitalization stocks.

**Investing in income-oriented stocks** — The value of a fund's securities and income provided by the fund may be reduced by changes in the dividend policies of, and the capital resources available for dividend payments at, the companies in which the fund invests.

**Investing outside the U.S.** — Securities of issuers domiciled outside the U.S. or with significant operations or revenues outside the U.S., and securities tied economically to countries outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers are domiciled, operate or generate revenue or to which the securities are tied economically. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls, sanctions, or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different accounting practices and different regulatory, legal, auditing, financial reporting and recordkeeping standards and practices, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund, which could impact the liquidity of the fund's portfolio. The risks of investing outside the U.S. may be heightened in connection with investments in developing countries.

---

| | |
|:---|:---|
| **54** | Capital Group Equity Exchange-Traded Funds |

---

------

**Investing in emerging markets** — Investing in emerging markets may involve risks in addition to and greater than those generally associated with investing in the securities markets of developed countries. For instance, emerging market countries tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy in a manner that could adversely affect the prices of securities. Information regarding issuers in emerging markets may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in more developed markets are subject. The fund's rights with respect to its investments in emerging markets, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, more vulnerable to market manipulation, and more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating the fund's net asset value. Additionally, emerging markets are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.

**Investing in developing countries** — Investing in developing countries may involve risks in addition to and greater than those generally associated with investing in developed countries. For instance, developing countries tend to have less developed political, economic and legal systems than those in developed countries. Accordingly, the governments of these countries may be less stable and more likely to intervene in the market economy in a manner that could adversely affect the prices of securities. Information regarding issuers in developing countries may be limited, incomplete or inaccurate, and such issuers may not be subject to regulatory, accounting, auditing, and financial reporting and recordkeeping standards comparable to those to which issuers in developed countries are subject. The fund's rights with respect to its investments in developing countries, if any, will generally be governed by local law, which may make it difficult or impossible for the fund to pursue legal remedies or to obtain and enforce judgments in local courts. In addition, the economies of these countries may be dependent on relatively few industries, may have limited access to capital and may be more susceptible to changes in local and global trade conditions and downturns in the world economy. Securities markets in these countries can also be relatively small and have substantially lower trading volumes. As a result, securities issued in these countries may be more volatile and less liquid, more vulnerable to market manipulation, and more difficult to value, than securities issued in countries with more developed economies and/or markets. Less certainty with respect to security valuations may lead to additional challenges and risks in calculating the fund's net asset value. Additionally, developing countries are more likely to experience problems with the clearing and settling of trades and the holding of securities by banks, agents and depositories that are less established than those in developed countries.

**Exposure to country, region, industry or sector** — Subject to the fund's investment limitations, the fund may have significant exposure to a particular country, region, industry or sector. Such exposure may cause the fund to be more impacted by risks relating to and developments affecting the country, region, industry or sector, and thus its net asset value may be more volatile, than a fund without such levels of exposure. For example, if the fund has significant exposure in a particular country, then social, economic, regulatory or other issues that negatively affect that country may have a greater impact on the fund than on a fund that is more geographically diversified.

**Liquidity risk** — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile or difficult to determine, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs or to try to limit losses, or may be forced to sell at a loss.

**Market trading** — Each fund's shares are listed for trading on an exchange and are bought and sold on the secondary market at market prices. The market prices of each fund's shares are expected to fluctuate, in some cases materially, in response to changes in the fund's net asset value ("NAV"), the intraday value of each fund's holdings, and supply and demand for each fund's shares. The existence of significant market volatility, disruptions to creations and redemptions, or potential lack of an active trading market for fund shares and/or for the holdings of the fund (including through a trading halt), among other factors, may result in the shares of each fund trading significantly above (at a premium) or below (at a discount) to NAV and bid-ask spreads may widen. A bid-ask spread is the "spread" or difference between what investors are willing to pay for fund shares (the "bid" price) and the price at which they are willing to sell fund shares (the "ask" price). If you buy fund shares when their market price is at a premium or sell the fund shares when their market price is at a discount, you may pay more than, or receive less than, NAV, respectively.

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| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **55** |

---

------

Foreign securities held by the funds may be traded in markets that close at a different time than the exchange on which the fund's shares are listed. Liquidity in those securities may be reduced after the applicable closing times. Accordingly, during the time when the fund's exchange is open but after the applicable market closing, fixing or settlement times, bid-ask spreads on the fund's exchange and the corresponding premium or discount to the fund's NAV may widen.

**Authorized participant concentration** — Only authorized participants may engage in creation or redemption transactions directly with each of the funds, and none of them is obligated to do so. Each fund has a limited number of institutions that may act as authorized participants. In addition, to the extent that securities held by each fund are traded outside a collateralized settlement system, authorized participants may be required to post collateral on certain trades on an agency basis (on behalf of other market participants), which only a limited number of authorized participants may be able to do. If authorized participants exit the business or are unable to or elect not to engage in creation or redemption transactions, and no other authorized participant engages in such function, fund shares may trade at a premium or discount to the fund's net asset value and/or at wider intraday bid-ask spreads and possibly face trading halts or delisting.

**Nondiversification** — As nondiversified funds, each fund may invest a greater percentage of its assets in fewer issuers than a diversified fund. A fund that invests in a relatively smaller number of issuers is more susceptible to risks associated with a single economic, political, geographic or regulatory occurrence than a diversified fund might be. In addition, poor performance by a single issuer could adversely affect fund performance more than if each fund were invested in a larger number of issuers. The value of each fund's shares can be expected to fluctuate more than might be the case if each fund were more broadly diversified.

**Management** — The investment adviser to the funds actively manages the funds' investments. Consequently, the funds are subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.

**5. Certain investment techniques**

------

**Securities lending** — Some of the funds have entered into securities lending transactions in which the funds earn income by lending investment securities to brokers, dealers or other institutions. Each transaction involves three parties: the fund, acting as the lender of the securities, a borrower, and a lending agent that acts as an intermediary.

Securities lending transactions are entered into by the fund under the securities lending agreement with the lending agent. The lending agent facilitates the exchange of securities between the lender and the borrower, generally provides protection from borrower default, marks to market the value of collateral daily, secures additional collateral from the borrower if it falls below preset terms, and may reinvest the collateral on behalf of the fund according to agreed parameters. The lending agent has indemnified the fund against losses resulting from borrower default. Although risk is mitigated by the collateral and indemnification, the fund could experience a delay in recovering its securities and a potential loss of income or value if the borrower fails to return the securities, collateral investments decline in value or the lending agent fails to perform.

The borrower is required to post highly liquid assets, such as cash or U.S. government securities, as collateral for the loan in an amount at least equal to the value of the securities loaned. Investments made with cash collateral are recognized as assets in the fund's investment portfolio. The same amount is recorded as a liability in the fund's statement of assets and liabilities. While securities are on loan, the fund will continue to receive the equivalent of the interest, dividends or other distributions paid by the issuer, as well as a portion of the interest on the investment of the collateral. Additionally, although the fund does not have the right to vote on securities while they are on loan, the fund has a right to consent on corporate actions and a right to recall loaned securities to vote on proposals affecting them. The borrower is obligated to return the loaned security at the conclusion of the loan or, during the pendency of the loan, on demand from the fund.

The following table presents the value of the securities on loan, the type and value of collateral received and the value of the investment securities purchased, if any, from the cash collateral received by each fund (dollars in thousands):

---

| | | | | |
|:---|:---|:---|:---|:---|
| | | **Collateral received** | **Collateral received** | |
| <br>**Funds** | <br>**Value of** <br>**investment** <br>**securities** <br>**on loan**<br>| **Cash** | **U.S. government** <br>**securities**<br>| <br>**Value of** <br>**investment** <br>**securities** <br>**purchased**<br>|
| Capital Group Global Growth Equity ETF | &nbsp;&nbsp; $9564 | &nbsp;&nbsp; $9756 | &nbsp;&nbsp; — | &nbsp;&nbsp; $8780 |
| Capital Group Growth ETF | &nbsp;&nbsp; 7156 | &nbsp;&nbsp; 7314 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6583 |
| Capital Group International Core Equity ETF | &nbsp;&nbsp; 1225 | &nbsp;&nbsp; 1256 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1130 |

---

---

| | |
|:---|:---|
| **56** | Capital Group Equity Exchange-Traded Funds |

---

------

Investment securities purchased from cash collateral are disclosed in the investment portfolio as short term securities. Securities received as collateral, if any, are not recognized as fund assets. The contractual maturity of collateral received under the securities lending agreement is classified as overnight and continuous.

**6. Taxation and distributions**

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**Federal income taxation** — Each fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to regulated investment companies and intends to distribute substantially all of its net taxable income and net capital gains each year. The funds are not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.

As of and during the period ended November 30, 2025, none of the funds had a liability for any unrecognized tax benefits. Each fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in their respective statements of operations. During the period, none of the funds incurred any significant interest or penalties.

Each fund's tax returns are generally not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction's statute of limitations, which is typically three years after the date of filing but can be extended in certain jurisdictions.

**Non-U.S. taxation** — Dividend and interest income, if any, are recorded net of non-U.S. taxes paid. The funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. As a result of rulings from European courts, the funds may file for additional reclaims related to prior years ("EU reclaims"). These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. During the six months ended November 30, 2025, some of the funds recognized EU reclaims and interest related to European court rulings as follows (dollars in thousands):

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| | | | |
|:---|:---|:---|:---|
| **Fund** | **Reclaims** | **Fees** | **Interest** |
| Core Equity ETF | &nbsp;&nbsp; $38 | &nbsp;&nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp;&nbsp; $— <br> \*<br>|
| Growth ETF | &nbsp;&nbsp; 44 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; — <br> \*<br>|
| International Focus Equity ETF | &nbsp;&nbsp; 384 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br>|

---

<sup>\*</sup> Amount less than one thousand.

The reclaims and interest are included in dividend income and interest income, respectively, in each fund's statements of operations. For U.S. income tax purposes, EU reclaims received by the funds reduce the amount of foreign taxes that the fund may pass through to its shareholders to be utilized as tax deductions or credit on their income tax returns. If the fund receives EU reclaims and either does not pass through foreign taxes in the current year or EU reclaims received exceed foreign taxes for the year, and the fund previously passed through the refunded EU taxes to its shareholders, the fund will enter into a closing agreement with the Internal Revenue Service in order to satisfy potential tax liability. Gains realized by the funds on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. The funds generally record an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.

**Distributions** — Distributions determined on a tax basis may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; cost of investments sold; net capital losses; non-U.S. taxes on capital gains and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the funds for financial reporting purposes.

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| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **57** |

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Additional tax basis disclosures for each fund as of November 30, 2025, were as follows (dollars in thousands):

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| | | | | |
|:---|:---|:---|:---|:---|
|  | **Conservative** <br>**Equity** <br>**ETF**<br>| **Core** <br>**Equity** <br>**ETF**<br>| **Dividend** <br>**Growers** <br>**ETF**<br>| **Dividend** <br>**Value** <br>**ETF**<br>|
| **As of May 31, 2025** |  |  |  |  |
| Undistributed ordinary income | $1159 | $10505 | $15369 | $43101 |
| Capital loss carryforward\* | (5729)<br>| (275522)<br>| (49802)<br>| (732949)<br>|
| **As of November 30, 2025** |  |  |  |  |
| Gross unrealized appreciation on investments | 113704 | 1584271 | 555829 | 4541941 |
| Gross unrealized depreciation on investments | (28842)<br>| (160826)<br>| (93372)<br>| (329496)<br>|
| Net unrealized appreciation (depreciation) on investments | 84862 | 1423445 | 462457 | 4212445 |
| Cost of investments | 1057955 | 6675731 | 3384712 | 21362363 |

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---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Global** <br>**Equity** <br>**ETF**<br>| **Global Growth** <br>**Equity** <br>**ETF**<br>| **Growth** <br>**ETF**<br>| **International** <br>**Core Equity** <br>**ETF**<br>|
| **As of May 31, 2025** |  |  |  |  |
| Undistributed ordinary income | $2241 | $59770 | $— | $1916 |
| Capital loss carryforward\* | (5486)<br>| (328337)<br>| (407252)<br>| (2892)<br>|
| **As of November 30, 2025** |  |  |  |  |
| Gross unrealized appreciation on investments | 143133 | 1591787 | 4446038 | 82150 |
| Gross unrealized depreciation on investments | (24260)<br>| (204565)<br>| (428200)<br>| (10473)<br>|
| Net unrealized appreciation (depreciation) on investments | 118873 | 1387222 | 4017838 | 71677 |
| Cost of investments | 1253421 | 6502967 | 14430853 | 721336 |

---

---

| | | | |
|:---|:---|:---|:---|
|  | &nbsp;&nbsp; **International** <br>**Equity** <br>**ETF**<br>| &nbsp;&nbsp; **International** <br>**Focus Equity** <br>**ETF**<br>| &nbsp;&nbsp; **New Geography** <br>**Equity** <br>**ETF**<br>|
| **As of May 31, 2025** |  |  |  |
| Undistributed ordinary income | &nbsp;&nbsp; $6303 | &nbsp;&nbsp; $41004 | &nbsp;&nbsp; $2278 |
| Capital loss carryforward\* | &nbsp;&nbsp; (15176)<br>| &nbsp;&nbsp; (293417)<br>| &nbsp;&nbsp; (3815)<br>|
| **As of November 30, 2025** |  |  |  |
| Gross unrealized appreciation on investments | &nbsp;&nbsp; 167259 | &nbsp;&nbsp; 958674 | &nbsp;&nbsp; 149986 |
| Gross unrealized depreciation on investments | &nbsp;&nbsp; (22523)<br>| &nbsp;&nbsp; (75368)<br>| &nbsp;&nbsp; (18850)<br>|
| Net unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 144736 | &nbsp;&nbsp; 883306 | &nbsp;&nbsp; 131136 |
| Cost of investments | &nbsp;&nbsp; 1166788 | &nbsp;&nbsp; 3429600 | &nbsp;&nbsp; 1022809 |

---

\* Each fund's capital loss carryforward will be used to offset any capital gains realized by the fund in the current year or in subsequent years. Funds with a capital loss carryforward will not make distributions from capital gains while a capital loss carryforward remains. 

Distributions paid by each fund were characterized for tax purposes as follows (dollars in thousands):

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| <br>**Fund** | **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>| &nbsp;&nbsp;&nbsp; **Ordinary** <br>**income**<br>| **Long-term** <br>**capital gains**<br>| **Total** <br>**distributions** <br>**paid**<br>|
| Conservative Equity ETF | &nbsp;&nbsp; $4403 | $— | $4403 | &nbsp;&nbsp;&nbsp;&nbsp; $1857 <br><sup>†</sup><br>| $— | $1857 <br><sup>†</sup><br>|
| Core Equity ETF | &nbsp;&nbsp; 32986 |  | 32986 | &nbsp;&nbsp;&nbsp;&nbsp; 42811 |  | 42811 |
| Dividend Growers ETF | &nbsp;&nbsp; 32504 |  | 32504 | &nbsp;&nbsp;&nbsp;&nbsp; 23975 |  | 23975 |
| Dividend Value ETF | &nbsp;&nbsp; 133976 |  | 133976 | &nbsp;&nbsp;&nbsp;&nbsp; 186907 |  | 186907 |
| Global Equity ETF | &nbsp;&nbsp; — |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 275 <br><sup>†</sup><br>|  | 275 <br><sup>†</sup><br>|
| Global Growth Equity ETF | &nbsp;&nbsp; 59761 |  | 59761 | &nbsp;&nbsp;&nbsp;&nbsp; 45632 |  | 45632 |
| Growth ETF | &nbsp;&nbsp; — |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 26727 |  | 26727 |
| International Core Equity ETF | &nbsp;&nbsp; 3648 |  | 3648 | &nbsp;&nbsp;&nbsp;&nbsp; 610 <br><sup>†</sup><br>|  | 610 <br><sup>†</sup><br>|
| International Equity ETF | &nbsp;&nbsp; 6303 |  | 6303 | &nbsp;&nbsp;&nbsp;&nbsp; 2252 |  | 2252 |
| International Focus Equity ETF | &nbsp;&nbsp; 41005 |  | 41005 | &nbsp;&nbsp;&nbsp;&nbsp; 27876 |  | 27876 |
| New Geography Equity ETF | &nbsp;&nbsp; — |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 279 <br><sup>†</sup><br>|  | 279 <br><sup>†</sup><br>|

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<sup>†</sup> For the period June 25, 2024, commencement of operations, through May 31, 2025.

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| | |
|:---|:---|
| **58** | Capital Group Equity Exchange-Traded Funds |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**7. Fees and transactions**

------

CRMC, the funds' investment adviser, is the parent company of Capital Client Group, Inc. ("CCG"), the principal underwriter of the funds' shares. CRMC and CCG are considered related parties to the funds.

**Investment advisory services** – Each fund has an investment advisory and service agreement with CRMC that provides for monthly fees, accrued daily. These fees are based on an annual rate of daily net assets as follows:

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| | |
|:---|:---|
| **Fund**  | **Annual rate**  |
| Conservative Equity ETF | 0.33<br> %<br>|
| Core Equity ETF | 0.33 |
| Dividend Growers ETF | 0.47 |
| Dividend Value ETF | 0.33 |
| Global Equity ETF | 0.47 |
| Global Growth Equity ETF | 0.47 |
| Growth ETF | 0.39 |
| International Core Equity ETF | 0.54 |
| International Equity ETF | 0.54 |
| International Focus Equity ETF | 0.54 |
| New Geography Equity ETF | 0.64 |

---

Under the terms of the agreements, in addition to providing investment advisory services, the investment adviser and its affiliates provide certain administrative services to help assist third parties providing non-distribution services to the funds' shareholders. These services include providing in-depth information on each fund and market developments that impact each fund's investments. The agreement provides that the investment adviser will pay all ordinary operating expenses of each fund other than management fees, interest expenses, taxes, acquired fund fees and expenses, costs of holding shareholder meetings, legal fees and expenses relating to arbitration or litigation, payments under each fund's plan of distribution (if any) and other non-routine or extraordinary expenses. Additionally, each fund will be responsible for its non-operating expenses, including brokerage commissions and fees and expenses associated with the fund's securities lending program, if applicable.

**Transfer agency and administration services** – Each fund has entered into a transfer agency and service agreement and an administration agreement with State Street Bank and Trust Company ("State Street"). Under the terms of the transfer agency agreement, State Street (or an agent, including an affiliate) acts as transfer agent and dividend disbursing agent for each fund. Under the terms of the administration agreement, State Street provides necessary administrative, legal, tax and accounting, regulatory and financial reporting services for the maintenance and operations of each fund. The investment adviser bears the costs of services under these agreements.

**Affiliated officers and trustees** – Officers and certain trustees of each fund are or may be considered to be affiliated with CRMC and CCG. No affiliated officers or trustees received any compensation directly from any of the funds.

**Investment in CCF** — Each fund holds shares of CCF, an institutional prime money market fund managed by CRMC. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for each fund's short-term investments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC. CCF shares are not available to the public. CRMC does not receive an investment advisory services fee from CCF.

**Security transactions with related funds** — Each fund may purchase from, or sell securities to, other CRMC-managed funds (or funds managed by certain affiliates of CRMC) under procedures adopted by each fund's board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. When such transactions occur, each transaction is executed at the current market price of the security and no brokerage commissions or fees are paid in accordance with Rule 17a-7 of the 1940 Act.

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **59** |

---

------

The following table presents purchase and sale transactions between each fund and related funds, and net realized gain or loss from such sales, if any, as of November 30, 2025 (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** | &nbsp;&nbsp;&nbsp; **Net** <br>**realized** <br>**gain (loss)**<br>|
| Conservative Equity ETF | &nbsp;&nbsp; $1473 | &nbsp;&nbsp;&nbsp;&nbsp; $845 | &nbsp;&nbsp;&nbsp;&nbsp; $(22) <br>|
| Core Equity ETF | &nbsp;&nbsp; 52376 | &nbsp;&nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp;&nbsp;&nbsp; (8) <br>|
| Dividend Growers ETF | &nbsp;&nbsp; 43915 | &nbsp;&nbsp;&nbsp;&nbsp; 5138 | &nbsp;&nbsp;&nbsp;&nbsp; (108) <br>|
| Dividend Value ETF | &nbsp;&nbsp; 164674 | &nbsp;&nbsp;&nbsp;&nbsp; 12151 | &nbsp;&nbsp;&nbsp;&nbsp; (182) <br>|
| Global Growth Equity ETF | &nbsp;&nbsp; 63716 | &nbsp;&nbsp;&nbsp;&nbsp; 22363 | &nbsp;&nbsp;&nbsp;&nbsp; (2278) <br>|
| Growth ETF | &nbsp;&nbsp; 49211 | &nbsp;&nbsp;&nbsp;&nbsp; 112398 | &nbsp;&nbsp;&nbsp;&nbsp; (1805) <br>|
| International Core Equity ETF | &nbsp;&nbsp; 828 | &nbsp;&nbsp;&nbsp;&nbsp; 142 | &nbsp;&nbsp;&nbsp;&nbsp; (24) <br>|
| International Equity ETF | &nbsp;&nbsp; 6923 | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; —<br>|
| International Focus Equity ETF | &nbsp;&nbsp; 10290 | &nbsp;&nbsp;&nbsp;&nbsp; 15478 | &nbsp;&nbsp;&nbsp;&nbsp; (1669) <br>|

---

**Interfund lending** — Pursuant to an exemptive order issued by the SEC, the funds, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. None of the funds lent or borrowed cash through the interfund lending program at any time during the period ended November 30, 2025.

**8. Indemnifications**

------

Each fund's organizational documents provide board members and officers with indemnification against certain liabilities or expenses in connection with the performance of their duties to the fund. In the normal course of business, each fund may also enter into contracts that provide general indemnifications. Each fund's maximum exposure under these arrangements is unknown since it is dependent on future claims that may be made against each fund. The risk of material loss from such claims is considered remote. Insurance policies are also available to each fund's board members and officers.

**9. Capital share transactions**

------

Each fund issues and redeems shares at NAV only with certain authorized participants in large increments known as creation units. Purchases of creation units are made by tendering a basket of designated securities and cash to a fund, and redemption proceeds are paid with a basket of securities from a fund's portfolio with a balancing cash component to equate the market value of the basket of securities delivered or redeemed to the NAV per creation unit on the transaction date. The funds may issue creation units to authorized participants in advance of the delivery and settlement of all or a portion of the designated securities. When this occurs, the authorized participant provides cash collateral in an amount equal to 105% of the daily marked to market value of the securities that have not yet been delivered to the fund. Cash may be substituted equivalent to the value of certain securities generally when they are not available in sufficient quantity for delivery. Realized gains or losses resulting from redemptions of shares in-kind, if any, are reflected separately in each fund's statement of operations.

Each fund's shares are available in smaller increments to investors in the secondary market at market prices and may be subject to commissions. Authorized participants pay a transaction fee to the shareholder servicing agent when purchasing and redeeming creation units of a fund. The transaction fee is used to defray the costs associated with the issuance and redemption of creation units. In addition, for cash creation unit transactions, a variable fee for creation transactions and redemption transactions may be charged to the authorized participant to cover certain brokerage, tax, foreign exchange, execution, market impact and other costs and expenses related to the execution of trades. Variable fees, if any, are included in capital share transactions in each fund's statement of changes in net assets.

---

| | |
|:---|:---|
| **60** | Capital Group Equity Exchange-Traded Funds |

---

------

Capital share transactions in each fund were as follows (dollars and shares in thousands):

**Conservative Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| &nbsp;&nbsp; $713730 | &nbsp;&nbsp; 24240 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(17508)<br>| &nbsp;&nbsp; (600)<br>| &nbsp;&nbsp;&nbsp; $696222 | &nbsp;&nbsp; 23640 |
| **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** |
| &nbsp;&nbsp; $382288 | &nbsp;&nbsp; 14244 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(18406)<br>| &nbsp;&nbsp; (720)<br>| &nbsp;&nbsp;&nbsp; $363882 | &nbsp;&nbsp; 13524 |

---

**Core Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| $2317635 | 60380 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(624920)<br>| (16400)<br>| &nbsp;&nbsp; $1692715 | 43980 |
| **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| $3461880 | 101800 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(1102799)<br>| (32520)<br>| &nbsp;&nbsp; $2359081 | 69280 |

---

**Dividend Growers ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| $1438555 | 42200 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(200310)<br>| (5840)<br>| &nbsp;&nbsp;&nbsp; $1238245 | 36360 |
| **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| $1995909 | 66440 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(227227)<br>| (7400)<br>| &nbsp;&nbsp;&nbsp; $1768682 | 59040 |

---

**Dividend Value ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| $8746471 | 212120 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(3198745)<br>| (77340)<br>| &nbsp;&nbsp; $5547726 | 134780 |
| **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| $11306331 | 318640 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(4265963)<br>| (120540)<br>| &nbsp;&nbsp; $7040368 | 198100 |

---

**Global Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| &nbsp;&nbsp; $929273 | &nbsp;&nbsp; 30880 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(47937)<br>| &nbsp;&nbsp; (1560)<br>| &nbsp;&nbsp;&nbsp; $881336 | &nbsp;&nbsp; 29320 |
| **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** |
| &nbsp;&nbsp; $374856 | &nbsp;&nbsp; 14364 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(4199)<br>| &nbsp;&nbsp; (160)<br>| &nbsp;&nbsp;&nbsp; $370657 | &nbsp;&nbsp; 14204 |

---

Refer to the end of table(s) for footnote(s).

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **61** |

---

------

**Global Growth Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| $2315515 | 70160 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(1083095)<br>| (32920)<br>| &nbsp;&nbsp; $1232420 | 37240 |
| **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| $2453618 | 83440 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(467604)<br>| (15840)<br>| &nbsp;&nbsp; $1986014 | 67600 |

---

**Growth ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| $4978986 | 117280 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(897318)<br>| (21180)<br>| &nbsp;&nbsp; $4081668 | 96100 |
| **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| $6319067 | 175640 | &nbsp;&nbsp; $— |  | &nbsp;&nbsp; $(1350994)<br>| (36820)<br>| &nbsp;&nbsp; $4968073 | 138820 |

---

**International Core Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| &nbsp;&nbsp; $525560 | &nbsp;&nbsp; 17480 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(12088)<br>| &nbsp;&nbsp; (400)<br>| &nbsp;&nbsp;&nbsp; $513472 | &nbsp;&nbsp; 17080 |
| **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** |
| &nbsp;&nbsp; $216959 | &nbsp;&nbsp; 8284 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(7981)<br>| &nbsp;&nbsp; (320)<br>| &nbsp;&nbsp;&nbsp; $208978 | &nbsp;&nbsp; 7964 |

---

**International Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| &nbsp;&nbsp; $599319 | &nbsp;&nbsp; 18080 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(24966)<br>| &nbsp;&nbsp; (760)<br>| &nbsp;&nbsp;&nbsp; $574353 | &nbsp;&nbsp; 17320 |
| **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| &nbsp;&nbsp; $483528 | &nbsp;&nbsp; 16440 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(13102)<br>| &nbsp;&nbsp; (440)<br>| &nbsp;&nbsp;&nbsp; $470426 | &nbsp;&nbsp; 16000 |

---

**International Focus Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| $498038 | 17360 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(346630)<br>| (12280)<br>| &nbsp;&nbsp;&nbsp; $151408 | 5080 |
| **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** | **Year ended May 31, 2025** |
| $1288750 | 49960 | &nbsp;&nbsp;&nbsp; $— |  | &nbsp;&nbsp;&nbsp; $(264996)<br>| (10280)<br>| &nbsp;&nbsp;&nbsp; $1023754 | 39680 |

---

Refer to the end of table(s) for footnote(s).

---

| | |
|:---|:---|
| **62** | Capital Group Equity Exchange-Traded Funds |

---

------

**New Geography Equity ETF** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br>**Sales** | <br>**Sales** | **Reinvestments of** <br>**distributions**  | **Reinvestments of** <br>**distributions**  | **Repurchases** | **Repurchases** | **Net increase (decrease)** | **Net increase (decrease)** |
| **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** |
| **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** | **Six months ended November 30, 2025** |
| &nbsp;&nbsp; $621762 | &nbsp;&nbsp; 20760 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(9396)<br>| &nbsp;&nbsp; (320)<br>| &nbsp;&nbsp;&nbsp; $612366 | &nbsp;&nbsp; 20440 |
| **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** | **For the period June 25, 2024\*, through May 31, 2025** |
| &nbsp;&nbsp; $411638 | &nbsp;&nbsp; 16044 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; $(2174)<br>| &nbsp;&nbsp; (80)<br>| &nbsp;&nbsp;&nbsp; $409464 | &nbsp;&nbsp; 15964 |

---

\* Commencement of operations.

**10. Investment transactions**

------

The following table presents purchases and sales of investments, excluding in-kind transactions, short-term securities and U.S. government obligations, if any, during the six months ended November 30, 2025 (dollars in thousands):

---

| | | |
|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** |
| Conservative Equity ETF | &nbsp;&nbsp; $127867 | &nbsp;&nbsp;&nbsp;&nbsp; $82204 |
| Core Equity ETF | &nbsp;&nbsp; 956511 | &nbsp;&nbsp;&nbsp;&nbsp; 361585 |
| Dividend Growers ETF | &nbsp;&nbsp; 792055 | &nbsp;&nbsp;&nbsp;&nbsp; 493984 |
| Dividend Value ETF | &nbsp;&nbsp; 4784722 | &nbsp;&nbsp;&nbsp;&nbsp; 1771563 |
| Global Equity ETF | &nbsp;&nbsp; 180493 | &nbsp;&nbsp;&nbsp;&nbsp; 125501 |
| Global Growth Equity ETF | &nbsp;&nbsp; 2001039 | &nbsp;&nbsp;&nbsp;&nbsp; 947958 |
| Growth ETF | &nbsp;&nbsp; 2511021 | &nbsp;&nbsp;&nbsp;&nbsp; 1445542 |
| International Core Equity ETF | &nbsp;&nbsp; 156068 | &nbsp;&nbsp;&nbsp;&nbsp; 70656 |
| International Equity ETF | &nbsp;&nbsp; 235944 | &nbsp;&nbsp;&nbsp;&nbsp; 164014 |
| International Focus Equity ETF | &nbsp;&nbsp; 1288991 | &nbsp;&nbsp;&nbsp;&nbsp; 829841 |
| New Geography Equity ETF | &nbsp;&nbsp; 407619 | &nbsp;&nbsp;&nbsp;&nbsp; 163627 |

---

The following table presents the value of securities received and delivered in-kind from the authorized participants to support creation and redemption transactions, if any, during the six months ended November 30, 2025 (dollars in thousands):

---

| | | |
|:---|:---|:---|
| **Fund**  | **In-kind creations** | **In-kind redemptions** |
| Conservative Equity ETF | &nbsp;&nbsp; $665930 | &nbsp;&nbsp;&nbsp;&nbsp; $17809 |
| Core Equity ETF | &nbsp;&nbsp; 1653460 | &nbsp;&nbsp;&nbsp;&nbsp; 617866 |
| Dividend Growers ETF | &nbsp;&nbsp; 1127301 | &nbsp;&nbsp;&nbsp;&nbsp; 198867 |
| Dividend Value ETF | &nbsp;&nbsp; 5397167 | &nbsp;&nbsp;&nbsp;&nbsp; 3197704 |
| Global Equity ETF | &nbsp;&nbsp; 832281 | &nbsp;&nbsp;&nbsp;&nbsp; 49220 |
| Global Growth Equity ETF | &nbsp;&nbsp; 1150056 | &nbsp;&nbsp;&nbsp;&nbsp; 1076628 |
| Growth ETF | &nbsp;&nbsp; 4011869 | &nbsp;&nbsp;&nbsp;&nbsp; 895212 |
| International Core Equity ETF | &nbsp;&nbsp; 429507 | &nbsp;&nbsp;&nbsp;&nbsp; 11979 |
| International Equity ETF | &nbsp;&nbsp; 527417 | &nbsp;&nbsp;&nbsp;&nbsp; 24510 |
| International Focus Equity ETF | &nbsp;&nbsp; 154578 | &nbsp;&nbsp;&nbsp;&nbsp; 312340 |
| New Geography Equity ETF | &nbsp;&nbsp; 375929 | &nbsp;&nbsp;&nbsp;&nbsp; 9212 |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **63** |

---

------

The following table presents additional information for each fund for the six months ended November 30, 2025 (dollars in thousands):

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Non-U.S. taxes** <br>**paid on** <br>**dividend income**<br>| &nbsp;&nbsp; **Non-U.S. taxes** <br>**paid on** <br>**realized gains**<br>| &nbsp;&nbsp; **Non-U.S. taxes** <br>**provided on** <br>**unrealized** <br>**appreciation**<br>|
| Conservative Equity ETF | &nbsp;&nbsp; $51 | &nbsp;&nbsp;&nbsp; $— | &nbsp;&nbsp;&nbsp; $— |
| Core Equity ETF | &nbsp;&nbsp; 287 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Dividend Growers ETF | &nbsp;&nbsp; 1412 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Dividend Value ETF | &nbsp;&nbsp; 1874 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Global Equity ETF | &nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| Global Growth Equity ETF | &nbsp;&nbsp; 2133 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 2281 |
| Growth ETF | &nbsp;&nbsp; 843 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| International Core Equity ETF | &nbsp;&nbsp; 529 | &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp; 242 |
| International Equity ETF | &nbsp;&nbsp; 582 | &nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; — |
| International Focus Equity ETF | &nbsp;&nbsp; 2762 | &nbsp;&nbsp;&nbsp; 675 | &nbsp;&nbsp;&nbsp; 12999 |
| New Geography Equity ETF | &nbsp;&nbsp; 622 | &nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp; 2349 |

---

**11. Ownership Concentration**

------

At November 30, 2025, American Funds Portfolio Series — Tax-Aware Conservative Growth and Income Portfolio held 27% and 16% of the outstanding shares of Capital Group Conservative Equity ETF and Capital Group Dividend Growers ETF, respectively. CRMC is the investment adviser to American Funds Portfolio Series — Tax-Aware Conservative Growth and Income Portfolio.

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| | |
|:---|:---|
| **64** | Capital Group Equity Exchange-Traded Funds |

---

------

Financial highlights

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Income (loss) from** <br>**investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** | <br>**Net asset** <br>**value,** <br>**beginning** <br>**of year**<br>| **Net** <br>**investment** <br>**income** <br>**(loss)**<br>| **Net gains** <br>**(losses) on** <br>**securities** <br>**(both** <br>**realized and** <br>**unrealized)**<br>| **Total from** <br>**investment** <br>**operations**<br>| **Dividends** <br>**(from net** <br>**investment** <br>**income)**<br>| **Distributions** <br>**(from capital** <br>**gains)**<br>| **Total** <br>**dividends** <br>**and** <br>**distributions**<br>| <br>**Net asset** <br>**value, end** <br>**of year**<br>| <br>**Total return** | <br>**Net assets,** <br>**end of** <br>**year** <br>**(in millions)**<br>| <br>**Ratio of** <br>**expenses to** <br>**average net** <br>**assets**<sup>2</sup> <br>| <br>**Ratio of** <br>**net income** <br>**(loss) to** <br>**average net** <br>**assets**<br>|
| **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** | **Conservative Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $27.68 | &nbsp;&nbsp; $.39 | &nbsp;&nbsp; $2.92 | &nbsp;&nbsp; $3.31 | &nbsp;&nbsp; $(.20)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.20)<br>| &nbsp;&nbsp; $30.79 | 11.99 %<sup>5</sup><br>| &nbsp;&nbsp; $1144 | &nbsp;&nbsp; .33 %<sup>6</sup><br>| 1.80 %<sup>6</sup><br>|
| 5/31/2025<sup>3,7</sup> <br>| 24.93 | &nbsp;&nbsp; .50 | 2.53 | 3.03 | &nbsp;&nbsp; (.28)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.28)<br>| 27.68 | 12.19 <br><sup>5</sup><br>| &nbsp;&nbsp; 374 | &nbsp;&nbsp; .33 <br><sup>6</sup><br>| 1.99 <br><sup>6</sup><br>|
| **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** | **Core Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $35.06 | &nbsp;&nbsp; $.22 | &nbsp;&nbsp; $5.35 | &nbsp;&nbsp; $5.57 | &nbsp;&nbsp; $(.19)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.19)<br>| &nbsp;&nbsp; $40.44 | 15.92 %<sup>5</sup><br>| &nbsp;&nbsp; $8103 | &nbsp;&nbsp; .33 %<sup>6</sup><br>| 1.00 %<sup>6</sup><br>|
| 5/31/2025 | 31.21 | &nbsp;&nbsp; .40 | 3.82 | 4.22 | &nbsp;&nbsp; (.37)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.37)<br>| 35.06 | 13.55 | &nbsp;&nbsp; 5483 | &nbsp;&nbsp; .33 | 1.17 |
| 5/31/2024 | 24.33 | &nbsp;&nbsp; .38 | 6.84 | 7.22 | &nbsp;&nbsp; (.34)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.34)<br>| 31.21 | 29.90 | &nbsp;&nbsp; 2718 | &nbsp;&nbsp; .33 | 1.34 |
| 5/31/2023 | 23.72 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .91 | &nbsp;&nbsp; (.30)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.30)<br>| 24.33 | 3.96 | &nbsp;&nbsp; 893 | &nbsp;&nbsp; .33 | 1.70 |
| 5/31/2022<sup>3,8</sup> <br>| 24.63 | &nbsp;&nbsp; .08 | &nbsp;&nbsp; (.96)<br>| &nbsp;&nbsp; (.88)<br>| &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.03)<br>| 23.72 | &nbsp;&nbsp; (3.59 )<sup>5</sup><br>| &nbsp;&nbsp; 164 | &nbsp;&nbsp; .09 <br><sup>5</sup><br>| &nbsp;&nbsp; .34 <br><sup>5</sup><br>|
| **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** | **Dividend Growers ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $32.59 | &nbsp;&nbsp; $.41 | &nbsp;&nbsp; $3.11 | &nbsp;&nbsp; $3.52 | &nbsp;&nbsp; $(.38)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.38)<br>| &nbsp;&nbsp; $35.73 | 10.86 %<sup>5</sup><br>| &nbsp;&nbsp; $3853 | &nbsp;&nbsp; .47 %<sup>6</sup><br>| 1.95 %<sup>6</sup><br>|
| 5/31/2025 | 28.71 | &nbsp;&nbsp; .82 | 3.72 | 4.54 | &nbsp;&nbsp; (.66)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.66)<br>| 32.59 | 16.05 | &nbsp;&nbsp; 2330 | &nbsp;&nbsp; .47 | 2.70 |
| 5/31/2024<sup>3,9</sup> <br>| 24.76 | &nbsp;&nbsp; .68 | 3.49 | 4.17 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 28.71 | 16.86 <br><sup>5</sup><br>| &nbsp;&nbsp; 357 | &nbsp;&nbsp; .47 <br><sup>6</sup><br>| 3.73 <br><sup>6</sup><br>|
| **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** | **Dividend Value ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $37.11 | &nbsp;&nbsp; $.35 | &nbsp;&nbsp; $6.63 | &nbsp;&nbsp; $6.98 | &nbsp;&nbsp; $(.27)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.27)<br>| &nbsp;&nbsp; $43.82 | 18.85 %<sup>5</sup><br>| &nbsp;&nbsp; $25596 | &nbsp;&nbsp; .33 %<sup>6</sup><br>| 1.47 %<sup>6</sup><br>|
| 5/31/2025 | 32.82 | &nbsp;&nbsp; .60 | 4.26 | 4.86 | &nbsp;&nbsp; (.57)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.57)<br>| 37.11 | 14.91 | &nbsp;&nbsp; 16677 | &nbsp;&nbsp; .33 | 1.68 |
| 5/31/2024 | 25.39 | &nbsp;&nbsp; .59 | 7.34 | 7.93 | &nbsp;&nbsp; (.50)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.50)<br>| 32.82 | 31.48 | &nbsp;&nbsp; 8246 | &nbsp;&nbsp; .33 | 1.99 |
| 5/31/2023 | 24.57 | &nbsp;&nbsp; .52 | &nbsp;&nbsp; .68 | 1.20 | &nbsp;&nbsp; (.38)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.38)<br>| 25.39 | 5.12 | &nbsp;&nbsp; 2192 | &nbsp;&nbsp; .33 | 2.16 |
| 5/31/2022<sup>3,8</sup> <br>| 24.71 | &nbsp;&nbsp; .10 | &nbsp;&nbsp; (.21)<br>| &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; (.03)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.03)<br>| 24.57 | &nbsp;&nbsp; (.46 )<sup>5</sup><br>| &nbsp;&nbsp; 301 | &nbsp;&nbsp; .09 <br><sup>5</sup><br>| &nbsp;&nbsp; .41 <br><sup>5</sup><br>|
| **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** | **Global Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $28.02 | &nbsp;&nbsp; $.20 | &nbsp;&nbsp; $3.32 | &nbsp;&nbsp; $3.52 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $31.54 | 12.56 %<sup>5</sup><br>| &nbsp;&nbsp; $1373 | &nbsp;&nbsp; .47 %<sup>6</sup><br>| &nbsp;&nbsp; .84 %<sup>6</sup><br>|
| 5/31/2025<sup>3,7</sup> <br>| 25.04 | &nbsp;&nbsp; .51 | 2.56 | 3.07 | &nbsp;&nbsp; (.09)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.09)<br>| 28.02 | 12.29 <br><sup>5</sup><br>| &nbsp;&nbsp; 398 | &nbsp;&nbsp; .47 <br><sup>6</sup><br>| 2.10 <br><sup>6</sup><br>|
| **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** | **Global Growth Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $30.36 | &nbsp;&nbsp; $.12 | &nbsp;&nbsp; $4.37 | &nbsp;&nbsp; $4.49 | &nbsp;&nbsp; $(.30)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.30)<br>| &nbsp;&nbsp; $34.55 | 14.89 %<sup>5</sup><br>| &nbsp;&nbsp; $7905 | &nbsp;&nbsp; .47 %<sup>6</sup><br>| &nbsp;&nbsp; .64 %<sup>6</sup><br>|
| 5/31/2025 | 29.02 | &nbsp;&nbsp; .32 | 1.34 | 1.66 | &nbsp;&nbsp; (.32)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.32)<br>| 30.36 | 5.76 | &nbsp;&nbsp; 5815 | &nbsp;&nbsp; .47 | 1.08 |
| 5/31/2024 | 23.22 | &nbsp;&nbsp; .28 | 5.72 | 6.00 | &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.20)<br>| 29.02 | 25.97 | &nbsp;&nbsp; 3596 | &nbsp;&nbsp; .47 | 1.08 |
| 5/31/2023 | 21.67 | &nbsp;&nbsp; .28 | 1.39 | 1.67 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.12)<br>| 23.22 | 7.80 | &nbsp;&nbsp; 1622 | &nbsp;&nbsp; .47 | 1.27 |
| 5/31/2022<sup>3,8</sup> <br>| 24.47 | &nbsp;&nbsp; .08 | &nbsp;&nbsp; (2.88)<br>| &nbsp;&nbsp; (2.80)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 21.67 | &nbsp;&nbsp; (11.44 )<sup>5</sup><br>| &nbsp;&nbsp; 220 | &nbsp;&nbsp; .13 <br><sup>5</sup><br>| &nbsp;&nbsp; .38 <br><sup>5</sup><br>|
| **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** | **Growth ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $38.16 | &nbsp;&nbsp; $.04 | &nbsp;&nbsp; $6.09 | &nbsp;&nbsp; $6.13 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $44.29 | 16.06 %<sup>5</sup><br>| &nbsp;&nbsp; $18442 | &nbsp;&nbsp; .39 %<sup>6</sup><br>| &nbsp;&nbsp; .16 %<sup>6</sup><br>|
| 5/31/2025 | 31.57 | &nbsp;&nbsp; .09 | 6.62 | 6.71 | &nbsp;&nbsp; (.12)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.12)<br>| 38.16 | 21.29 | &nbsp;&nbsp; 12223 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .26 |
| 5/31/2024 | 23.39 | &nbsp;&nbsp; .12 | 8.17 | 8.29 | &nbsp;&nbsp; (.11)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.11)<br>| 31.57 | 35.55 | &nbsp;&nbsp; 5728 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .44 |
| 5/31/2023 | 22.28 | &nbsp;&nbsp; .13 | 1.05 | 1.18 | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| 23.39 | 5.33 | &nbsp;&nbsp; 2064 | &nbsp;&nbsp; .39 | &nbsp;&nbsp; .62 |
| 5/31/2022<sup>3,8</sup> <br>| 24.40 | &nbsp;&nbsp; .03 | &nbsp;&nbsp; (2.15)<br>| &nbsp;&nbsp; (2.12)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 22.28 | &nbsp;&nbsp; (8.69 )<sup>5</sup><br>| &nbsp;&nbsp; 285 | &nbsp;&nbsp; .10 <br><sup>5</sup><br>| &nbsp;&nbsp; .13 <br><sup>5</sup><br>|
| **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** | **International Core Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $28.22 | &nbsp;&nbsp; $.39 | &nbsp;&nbsp; $3.35 | &nbsp;&nbsp; $3.74 | &nbsp;&nbsp; $(.30)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.30)<br>| &nbsp;&nbsp; $31.66 | 13.35 %<sup>5</sup><br>| &nbsp;&nbsp; $793 | &nbsp;&nbsp; .54 %<sup>6</sup><br>| 1.60 %<sup>6</sup><br>|
| 5/31/2025<sup>3,7</sup> <br>| 25.06 | &nbsp;&nbsp; .91 | 2.47 | 3.38 | &nbsp;&nbsp; (.22)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.22)<br>| 28.22 | 13.60 <br><sup>5</sup><br>| &nbsp;&nbsp; 225 | &nbsp;&nbsp; .54 <br><sup>6</sup><br>| 3.79 <br><sup>6</sup><br>|
| **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** | **International Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $32.28 | &nbsp;&nbsp; $.24 | &nbsp;&nbsp; $2.07 | &nbsp;&nbsp; $2.31 | &nbsp;&nbsp; $(.27)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.27)<br>| &nbsp;&nbsp; $34.32 | 7.20 %<sup>5</sup><br>| &nbsp;&nbsp; $1312 | &nbsp;&nbsp; .54 %<sup>6</sup><br>| 1.04 %<sup>6</sup><br>|
| 5/31/2025 | 29.10 | &nbsp;&nbsp; .70 | 2.83 | 3.53 | &nbsp;&nbsp; (.35)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.35)<br>| 32.28 | 12.30 | &nbsp;&nbsp; 675 | &nbsp;&nbsp; .54 | 2.39 |
| 5/31/2024<sup>3,9</sup> <br>| 24.82 | &nbsp;&nbsp; .51 | 3.82 | 4.33 | &nbsp;&nbsp; (.05)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.05)<br>| 29.10 | 17.47 <br><sup>5</sup><br>| &nbsp;&nbsp; 143 | &nbsp;&nbsp; .54 <br><sup>6</sup><br>| 2.77 <br><sup>6</sup><br>|

---

Refer to the end of the table(s) for footnote(s).

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **65** |

---

------

Financial highlights (continued)

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Income (loss) from**<br> **investment operations**<sup>1</sup> | **Dividends and distributions** | **Dividends and distributions** | **Dividends and distributions** | | | | | |
| <br>**Year ended** | <br>**Net asset**<br> **value,**<br> **beginning**<br> **of year**<br>| **Net**<br> **investment**<br> **income**<br> **(loss)**<br>| **Net gains**<br> **(losses) on**<br> **securities**<br> **(both**<br> **realized and**<br> **unrealized)**<br>| **Total from**<br> **investment**<br> **operations**<br>| **Dividends**<br> **(from net**<br> **investment**<br> **income)**<br>| **Distributions**<br> **(from capital**<br> **gains)**<br>| **Total**<br> **dividends**<br> **and**<br> **distributions**<br>| <br>**Net asset**<br> **value, end**<br> **of year**<br>| <br>**Total return** | <br>**Net assets,**<br> **end of**<br> **year**<br> **(in millions)**<br>| <br>**Ratio of**<br> **expenses to**<br> **average net**<br> **assets**<sup>2</sup><br>| <br>**Ratio of**<br> **net income**<br> **(loss) to**<br> **average net**<br> **assets**<br>|
| **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** | **International Focus Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $26.38 | &nbsp;&nbsp; $.17 | &nbsp;&nbsp; $3.62 | &nbsp;&nbsp; $3.79 | &nbsp;&nbsp; $(.29)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(.29)<br>| &nbsp;&nbsp; $29.88 | 14.50 %<sup>5</sup><br>| &nbsp;&nbsp; $4305 | &nbsp;&nbsp; .54 %<sup>6</sup><br>| 1.19 %<sup>6</sup><br>|
| 5/31/2025 | 25.97 | &nbsp;&nbsp; .41 | &nbsp;&nbsp; .25 | &nbsp;&nbsp; .66 | &nbsp;&nbsp; (.25)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.25)<br>| 26.38 | 2.58 | &nbsp;&nbsp; 3667 | &nbsp;&nbsp; .54 | 1.60 |
| 5/31/2024 | 22.45 | &nbsp;&nbsp; .30 | 3.46 | 3.76 | &nbsp;&nbsp; (.24)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.24)<br>| 25.97 | 16.85 | &nbsp;&nbsp; 2579 | &nbsp;&nbsp; .54 | 1.26 |
| 5/31/2023 | 22.82 | &nbsp;&nbsp; .38 | &nbsp;&nbsp; (.55)<br>| &nbsp;&nbsp; (.17)<br>| &nbsp;&nbsp; (.20)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.20)<br>| 22.45 | &nbsp;&nbsp; (.68)<br>| &nbsp;&nbsp; 1298 | &nbsp;&nbsp; .54 | 1.74 |
| 5/31/2022<sup>3,8</sup> <br>| 24.51 | &nbsp;&nbsp; .24 | &nbsp;&nbsp; (1.93)<br>| &nbsp;&nbsp; (1.69)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | 22.82 | &nbsp;&nbsp; (6.90 )<sup>5</sup><br>| &nbsp;&nbsp; 188 | &nbsp;&nbsp; .14 <br><sup>5</sup><br>| 1.07 <br><sup>5</sup><br>|
| **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** | **New Geography Equity ETF** |
| 11/30/2025<sup>3,4</sup> <br>| $27.22 | &nbsp;&nbsp; $.20 | &nbsp;&nbsp; $4.24 | &nbsp;&nbsp; $4.44 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $31.66 | 16.31 %<sup>5</sup><br>| &nbsp;&nbsp; $1153 | &nbsp;&nbsp; .64 %<sup>6</sup><br>| &nbsp;&nbsp; .85 %<sup>6</sup><br>|
| 5/31/2025<sup>3,7</sup> <br>| 25.04 | &nbsp;&nbsp; .40 | 1.85 | 2.25 | &nbsp;&nbsp; (.07)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (.07)<br>| 27.22 | 9.00 <br><sup>5</sup><br>| &nbsp;&nbsp; 435 | &nbsp;&nbsp; .64 <br><sup>6</sup><br>| 1.70 <br><sup>6</sup><br>|

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Portfolio turnover rate**<sup>10</sup> | **Six months ended** <br>**November 30, 2025**<sup>3,4,5</sup><br>| &nbsp;&nbsp;&nbsp; **Year ended** <br>**May 31, 2025**<br>| &nbsp;&nbsp;&nbsp; **Year ended** <br>**May 31, 2024**<br>| &nbsp;&nbsp;&nbsp; **Year ended** <br>**May 31, 2023**<br>| &nbsp;&nbsp;&nbsp; **Period ended** <br>**May 31, 2022**<sup>3,5,8</sup><br>|
| Conservative Equity ETF | &nbsp;&nbsp; 11<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 30 %<sup>3,5,7</sup><br>|  |  |  |
| Core Equity ETF | &nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp;&nbsp;&nbsp; 22<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 34<br> %<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8<br> %<br>|
| Dividend Growers ETF | &nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 20 <br><sup>359</sup><br>|  |  |
| Dividend Value ETF | &nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 3 |
| Global Equity ETF | &nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 22 <br><sup>357</sup><br>|  |  |  |
| Global Growth Equity ETF | &nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp;&nbsp;&nbsp; 39 | &nbsp;&nbsp;&nbsp;&nbsp; 17 |
| Growth ETF | &nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 33 | &nbsp;&nbsp;&nbsp;&nbsp; 9 |
| International Core Equity ETF | &nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 43 <br><sup>357</sup><br>|  |  |  |
| International Equity ETF | &nbsp;&nbsp; 17 | &nbsp;&nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 23 <br><sup>359</sup><br>|  |  |
| International Focus Equity ETF | &nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp;&nbsp;&nbsp; 43 | &nbsp;&nbsp;&nbsp;&nbsp; 21 |
| New Geography Equity ETF | &nbsp;&nbsp; 22 | &nbsp;&nbsp;&nbsp;&nbsp; 49 <br><sup>357</sup><br>|  |  |  |

---

<sup>1</sup> Based on average shares outstanding.

<sup>2</sup> Ratios do not include expenses of any Central Funds. Each fund indirectly bears its proportionate share of the expenses of any Central Funds.

<sup>3</sup> Based on operations for a period that is less than a full year.

<sup>4</sup> Unaudited.

<sup>5</sup> Not annualized.

<sup>6</sup> Annualized.

<sup>7</sup> For the period June 25, 2024, commencement of operations, through May 31, 2025.

<sup>8</sup> For the period February 22, 2022, commencement of operations, through May 31, 2022.

<sup>9</sup> For the period September 26, 2023, commencement of operations, through May 31, 2024.

<sup>10</sup> Rates do not include each fund's portfolio activity with respect to any Central Funds.

Refer to the notes to financial statements.

---

| | |
|:---|:---|
| **66** | Capital Group Equity Exchange-Traded Funds |

---

------

Changes in and disagreements with accountants

------

On July 3, 2025, PricewaterhouseCoopers LLP ("PwC") was dismissed and Deloitte & Touche LLP ("D&T") was appointed as the independent registered public accounting firm for Capital Group Core Equity ETF, Capital Group Dividend Value ETF, Capital Group Global Growth Equity ETF, Capital Group Growth ETF, Capital Group International Core Equity ETF, Capital Group International Focus Equity ETF, and Capital Group New Geography Equity ETF (each a "fund", or collectively the funds"), for the fiscal year ending May 31, 2026 audits. The change in each fund's independent registered public accounting firm was approved by each fund's board of trustees, including a majority of the independent trustees, upon recommendation of each fund's audit committee, as part of a broader effort to update board oversight and fund operations.

PwC's reports on the funds' financial statements as of and for the fiscal years ended May 31, 2024 and May 31, 2025 (or fiscal period ended May 31, 2025 in the case of Capital Group International Core Equity ETF and Capital Group New Geography Equity ETF) did not contain an adverse opinion or disclaimer of opinion nor were they qualified or modified as to uncertainty, audit scope or accounting principles. At no point during the funds' fiscal years ended May 31, 2024 and May 31, 2025 (or fiscal period ended May 31, 2025 in the case of Capital Group International Core Equity ETF and Capital Group New Geography Equity ETF) and the subsequent interim period through July 14, 2025, (i) were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PwC, would have caused them to make reference to the subject matter of the disagreements in connection with their reports on the funds' financial statements for such periods, and (ii) there were no "reportable events" of the kind described in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934, as amended.

During the funds' fiscal years ended May 31, 2024 and May 31, 2025 (or fiscal period ended May 31, 2025 in the case of Capital Group International Core Equity ETF and Capital Group New Geography Equity ETF) and the subsequent interim period through July 14, 2025, neither the funds nor anyone on its behalf, consulted with D&T on items which: (i) concerned the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the funds' financial statements; or (ii) concerned the subject of a disagreement (as defined in paragraph (a)(1)(iv) of Item 304 of Regulation S-K) or reportable events (as described in paragraph (a)(1)(v) of said Item 304).

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **67** |

---

------

Matters submitted for shareholder vote

------

**Results of special meeting of shareholders**

**Capital Group Conservative Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

29,144,000

Total shares voting on November 25, 2025:

25,756,488 (88.4% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Noriko Honda Chen | 25729624  | 99.9% | 26864  | 0.1% |
| Mathews Cherian | 25729314  | 99.9% | 27174  | 0.1% |
| John G. Freund | 25736574  | 99.9% | 19914  | 0.1% |
| Pablo R. González Guajardo | 24272435  | 94.2% | 1484053  | 5.8% |
| Pedro J. Greer, Jr. | 25736264  | 99.9% | 20224  | 0.1% |
| Merit E. Janow | 25736264  | 99.9% | 20224  | 0.1% |
| William D. Jones | 25736574  | 99.9% | 19914  | 0.1% |
| Earl Lewis, Jr. | 25736574  | 99.9% | 19914  | 0.1% |
| Kenneth M. Simril | 25736264  | 99.9% | 20224  | 0.1% |
| Christopher E. Stone | 25736574  | 99.9% | 19914  | 0.1% |
| Kathy J. Williams | 25735039  | 99.9% | 21449  | 0.1% |
| Amy Zegart | 25730039  | 99.9% | 26449  | 0.1% |

---

---

| | |
|:---|:---|
| **68** | Capital Group Equity Exchange-Traded Funds |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group Core Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

181,444,000

Total shares voting on November 25, 2025:

135,875,441 (74.9% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Christopher D. Buchbinder | 135455365  | 99.7% | 420075  | 0.3% |
| Vanessa C. L. Chang | 135415561  | 99.7% | 459879  | 0.3% |
| Francisco G. Cigarroa | 135436082  | 99.7% | 439358  | 0.3% |
| Nariman Farvardin | 135416014  | 99.7% | 459426  | 0.3% |
| Jennifer C. Feikin | 135419144  | 99.7% | 456296  | 0.3% |
| John G. Freund | 135429558  | 99.7% | 445882  | 0.3% |
| Leslie Stone Heisz | 135416517  | 99.7% | 458923  | 0.3% |
| Sharon I. Meers | 135416984  | 99.7% | 458456  | 0.3% |
| William L. Robbins | 135464810  | 99.7% | 410630  | 0.3% |
| Kenneth M. Simril | 135421649  | 99.7% | 453791  | 0.3% |
| Margaret Spellings | 135267228  | 99.6% | 608212  | 0.4% |
| Christopher E. Stone | 135436634  | 99.7% | 438806  | 0.3% |
| Alexandra Trower | 135424056  | 99.7% | 451384  | 0.3% |
| Paul S. Williams | 135425818  | 99.7% | 449622  | 0.3% |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **69** |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group Dividend Growers ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

93,164,000

Total shares voting on November 25, 2025:

74,573,825 (80.0% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Noriko Honda Chen | 74452493  | 99.8% | 121332  | 0.2% |
| Mathews Cherian | 74459968  | 99.8% | 113857  | 0.2% |
| John G. Freund | 74459921  | 99.8% | 113904  | 0.2% |
| Pablo R. González Guajardo | 69182103  | 92.8% | 5391722  | 7.2% |
| Pedro J. Greer, Jr. | 74451395  | 99.8% | 122430  | 0.2% |
| Merit E. Janow | 74462860  | 99.9% | 110965  | 0.1% |
| William D. Jones | 74458827  | 99.8% | 114998  | 0.2% |
| Earl Lewis, Jr. | 74458670  | 99.8% | 115155  | 0.2% |
| Kenneth M. Simril | 74455818  | 99.8% | 118007  | 0.2% |
| Christopher E. Stone | 74463225  | 99.9% | 110600  | 0.1% |
| Kathy J. Williams | 74458043  | 99.8% | 115782  | 0.2% |
| Amy Zegart | 74457479  | 99.8% | 116346  | 0.2% |

---

---

| | |
|:---|:---|
| **70** | Capital Group Equity Exchange-Traded Funds |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group Dividend Value ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

512,024,000

Total shares voting on November 25, 2025:

384,876,865 (75.2% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Gina F. Adams | 322263130  | 83.7% | 62613735  | 16.3% |
| Charles E. Andrews | 384014011  | 99.8% | 862854  | 0.2% |
| Joseph J. Bonner | 384024618  | 99.8% | 852247  | 0.2% |
| Michael C. Camuñez | 384048608  | 99.8% | 828257  | 0.2% |
| Vanessa C. L. Chang | 383833245  | 99.7% | 1043620  | 0.3% |
| Cecilia V. Estolano | 384023762  | 99.8% | 853103  | 0.2% |
| Bradford F. Freer | 384073214  | 99.8% | 803651  | 0.2% |
| Yvonne L. Greenstreet | 384071298  | 99.8% | 805566  | 0.2% |
| Martin E. Koehler | 384039797  | 99.8% | 837068  | 0.2% |
| Sharon I. Meers | 384054391  | 99.8% | 822474  | 0.2% |
| Pascal Millaire | 384054786  | 99.8% | 822079  | 0.2% |
| William I. Miller | 384039447  | 99.8% | 837417  | 0.2% |
| Anne-Marie Peterson  | 384087402  | 99.8% | 789463  | 0.2% |
| Josette Sheeran  | 384025572  | 99.8% | 851293  | 0.2% |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **71** |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group Global Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

31,404,000

Total shares voting on November 25, 2025:

25,326,996 (80.6% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Noriko Honda Chen | 25314211  | 99.9% | 12785  | 0.1% |
| Mathews Cherian | 25317819  | 100.0% | 9177  | 0.0% |
| John G. Freund | 25317563  | 100.0% | 9433  | 0.0% |
| Pablo R. González Guajardo | 22838198  | 90.2% | 2488798  | 9.8% |
| Pedro J. Greer, Jr. | 25317266  | 100.0% | 9730  | 0.0% |
| Merit E. Janow | 25317626  | 100.0% | 9370  | 0.0% |
| William D. Jones | 25317819  | 100.0% | 9177  | 0.0% |
| Earl Lewis, Jr. | 25317819  | 100.0% | 9177  | 0.0% |
| Kenneth M. Simril | 25315344  | 100.0% | 11652  | 0.0% |
| Christopher E. Stone | 25317819  | 100.0% | 9177  | 0.0% |
| Kathy J. Williams | 25317539  | 100.0% | 9457  | 0.0% |
| Amy Zegart | 25318145  | 100.0% | 8851  | 0.0% |

---

---

| | |
|:---|:---|
| **72** | Capital Group Equity Exchange-Traded Funds |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group Global Growth Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

210,204,000

Total shares voting on November 25, 2025:

156,129,037 (74.3% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Christopher D. Buchbinder | 155615759  | 99.7% | 513278  | 0.3% |
| Vanessa C. L. Chang | 155587350  | 99.7% | 541687  | 0.3% |
| Francisco G. Cigarroa | 155596013  | 99.7% | 533024  | 0.3% |
| Nariman Farvardin | 155593721  | 99.7% | 535316  | 0.3% |
| Jennifer C. Feikin | 155596993  | 99.7% | 532044  | 0.3% |
| John G. Freund | 155603666  | 99.7% | 525371  | 0.3% |
| Leslie Stone Heisz | 155597544  | 99.7% | 531493  | 0.3% |
| Sharon I. Meers | 155600958  | 99.7% | 528079  | 0.3% |
| William L. Robbins | 155617636  | 99.7% | 511401  | 0.3% |
| Kenneth M. Simril | 155605306  | 99.7% | 523731  | 0.3% |
| Margaret Spellings | 155588758  | 99.7% | 540279  | 0.3% |
| Christopher E. Stone | 155601365  | 99.7% | 527672  | 0.3% |
| Alexandra Trower | 155607179  | 99.7% | 521858  | 0.3% |
| Paul S. Williams | 155602340  | 99.7% | 526697  | 0.3% |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **73** |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group Growth ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

362,804,000

Total shares voting on November 25, 2025:

269,624,853 (74.3% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Christopher D. Buchbinder | 268518213  | 99.6% | 1106640  | 0.4% |
| Vanessa C. L. Chang | 268664840  | 99.6% | 960013  | 0.4% |
| Francisco G. Cigarroa | 268715983  | 99.7% | 908870  | 0.3% |
| Nariman Farvardin | 268698385  | 99.7% | 926468  | 0.3% |
| Jennifer C. Feikin | 268736093  | 99.7% | 888760  | 0.3% |
| John G. Freund | 268674979  | 99.6% | 949874  | 0.4% |
| Leslie Stone Heisz | 268728075  | 99.7% | 896778  | 0.3% |
| Sharon I. Meers | 268765085  | 99.7% | 859768  | 0.3% |
| William L. Robbins | 268562858  | 99.6% | 1061995  | 0.4% |
| Kenneth M. Simril | 268747285  | 99.7% | 877568  | 0.3% |
| Margaret Spellings | 268748186  | 99.7% | 876667  | 0.3% |
| Christopher E. Stone | 268700376  | 99.7% | 924477  | 0.3% |
| Alexandra Trower | 268753961  | 99.7% | 870892  | 0.3% |
| Paul S. Williams | 268748658  | 99.7% | 876195  | 0.3% |

---

---

| | |
|:---|:---|
| **74** | Capital Group Equity Exchange-Traded Funds |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group International Core Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

15,364,000

Total shares voting on November 25, 2025:

11,100,537 (72.3% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Gina F. Adams | 10700479  | 96.4% | 400058  | 3.6% |
| Charles E. Andrews | 10997302  | 99.1% | 103235  | 0.9% |
| Joseph J. Bonner | 10998309  | 99.1% | 102228  | 0.9% |
| Michael C. Camuñez | 10997328  | 99.1% | 103209  | 0.9% |
| Vanessa C. L. Chang | 10935230  | 98.5% | 165307  | 1.5% |
| Cecilia V. Estolano | 10997515  | 99.1% | 103022  | 0.9% |
| Bradford F. Freer | 11007600  | 99.2% | 92937  | 0.8% |
| Yvonne L. Greenstreet | 11007786  | 99.2% | 92751  | 0.8% |
| Martin E. Koehler | 10997221  | 99.1% | 103316  | 0.9% |
| Sharon I. Meers | 11007786  | 99.2% | 92751  | 0.8% |
| Pascal Millaire | 10996633  | 99.1% | 103904  | 0.9% |
| William I. Miller | 10997603  | 99.1% | 102934  | 0.9% |
| Anne-Marie Peterson  | 10998415  | 99.1% | 102122  | 0.9% |
| Josette Sheeran  | 10997709  | 99.1% | 102828  | 0.9% |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **75** |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group International Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

29,844,000

Total shares voting on November 25, 2025:

23,929,771 (80.2% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Noriko Honda Chen | 23716572  | 99.1% | 213199  | 0.9% |
| Mathews Cherian | 23717410  | 99.1% | 212361  | 0.9% |
| John G. Freund | 23723441  | 99.1% | 206330  | 0.9% |
| Pablo R. González Guajardo | 20214108  | 84.5% | 3715663  | 15.5% |
| Pedro J. Greer, Jr. | 23721010  | 99.1% | 208761  | 0.9% |
| Merit E. Janow | 23719401  | 99.1% | 210370  | 0.9% |
| William D. Jones | 23723530  | 99.1% | 206241  | 0.9% |
| Earl Lewis, Jr. | 23720522  | 99.1% | 209249  | 0.9% |
| Kenneth M. Simril | 23719984  | 99.1% | 209787  | 0.9% |
| Christopher E. Stone | 23722835  | 99.1% | 206936  | 0.9% |
| Kathy J. Williams | 23724300  | 99.1% | 205471  | 0.9% |
| Amy Zegart | 23717463  | 99.1% | 212308  | 0.9% |

---

---

| | |
|:---|:---|
| **76** | Capital Group Equity Exchange-Traded Funds |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group International Focus Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

139,764,000

Total shares voting on November 25, 2025:

108,301,787 (77.5% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Gina F. Adams | 93271911  | 86.1% | 15029876  | 13.9% |
| Charles E. Andrews | 107955771  | 99.7% | 346016  | 0.3% |
| Joseph J. Bonner | 107961074  | 99.7% | 340713  | 0.3% |
| Michael C. Camuñez | 107977393  | 99.7% | 324394  | 0.3% |
| Vanessa C. L. Chang | 105962308  | 97.8% | 2339479  | 2.2% |
| Cecilia V. Estolano | 108020996  | 99.7% | 280791  | 0.3% |
| Bradford F. Freer | 107919289  | 99.6% | 382498  | 0.4% |
| Yvonne L. Greenstreet | 108033588  | 99.8% | 268199  | 0.2% |
| Martin E. Koehler | 107963304  | 99.7% | 338483  | 0.3% |
| Sharon I. Meers | 108019649  | 99.7% | 282138  | 0.3% |
| Pascal Millaire | 107967014  | 99.7% | 334773  | 0.3% |
| William I. Miller | 107961654  | 99.7% | 340133  | 0.3% |
| Anne-Marie Peterson  | 107974786  | 99.7% | 327001  | 0.3% |
| Josette Sheeran  | 108013556  | 99.7% | 288231  | 0.3% |

---

---

| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **77** |

---

------

Matters submitted for shareholder vote (continued)

------

**Results of special meeting of shareholders**

**Capital Group New Geography Equity ETF**

held November 25, 2025

Shares outstanding (all classes) on August 28, 2025 (record date):

25,604,000

Total shares voting on November 25, 2025:

20,740,523 (81.0% of shares outstanding)

The proposal: To elect board members

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Board member** | **Votes for** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**voting for**<br>| **Votes withheld** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Percent** <br>**of shares** <br>**withheld**<br>|
| Gina F. Adams | 17996162  | 86.8% | 2744361  | 13.2% |
| Charles E. Andrews | 20710366  | 99.9% | 30157  | 0.1% |
| Joseph J. Bonner | 20710366  | 99.9% | 30157  | 0.1% |
| Michael C. Camuñez | 20709761  | 99.9% | 30762  | 0.1% |
| Vanessa C. L. Chang | 20703795  | 99.8% | 36728  | 0.2% |
| Cecilia V. Estolano | 20710985  | 99.9% | 29538  | 0.1% |
| Bradford F. Freer | 20710487  | 99.9% | 30036  | 0.1% |
| Yvonne L. Greenstreet | 20711729  | 99.9% | 28794  | 0.1% |
| Martin E. Koehler | 20710366  | 99.9% | 30157  | 0.1% |
| Sharon I. Meers | 20711729  | 99.9% | 28794  | 0.1% |
| Pascal Millaire | 20709687  | 99.9% | 30836  | 0.1% |
| William I. Miller | 20710366  | 99.9% | 30157  | 0.1% |
| Anne-Marie Peterson  | 20711608  | 99.9% | 28915  | 0.1% |
| Josette Sheeran  | 20710864  | 99.9% | 29659  | 0.1% |

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Remuneration paid to directors, officers and others

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Trustee compensation is paid by the investment adviser pursuant to the Investment Advisory and Service Agreement. Additional information related to the trustee compensation is available in the Registrant's Statement of Additional Information.

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| | |
|:---|:---|
| **78** | Capital Group Equity Exchange-Traded Funds |

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Approval of Investment Advisory and Service Agreement

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The boards of Capital Group Conservative Equity ETF, Capital Group Growth ETF, Capital Group Global Equity ETF, Capital Group Global Growth Equity ETF, Capital Group International Core Equity ETF, Capital Group International Focus Equity ETF, Capital Group International Equity ETF, Capital Group Core Equity ETF, Capital Group Dividend Value ETF, Capital Group Dividend Growers ETF and Capital Group New Geography Equity ETF have approved the continuation of each fund's Investment Advisory and Service Agreement (the "agreement") with Capital Research and Management Company ("CRMC") for an additional one-year term through July 31, 2026. The board approved the agreement following the recommendation of each fund's Contracts Committee (the "committee"), which is composed of all of each fund's independent board members. The board and the committee determined in the exercise of their business judgment that each fund's contractual fee rate was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of each fund and its shareholders.

In reaching this decision, the board and the committee took into account their interactions with CRMC in addition to information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and they were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.

**1. Nature, extent and quality of services**

The board and the committee considered the depth and quality of CRMC's investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which each fund's assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, and other services; and the ongoing evolution of CRMC's organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative services provided by CRMC to each fund under the agreement and other agreements. The board and the committee considered the risks assumed by CRMC in providing services to each fund, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit each fund and its shareholders.

**2. Investment results**

The board and the committee considered the investment results of each fund in light of its objective and strategy. They compared each fund's investment results with those of other funds (including funds that currently form the basis of the Lipper index for the category in which each fund is included) and data such as publicly disclosed benchmarks, including applicable market and fund indexes over various periods (including the fund's lifetime) through December 31, 2024 while recognizing the fund's short operational history. On the basis of this evaluation and the board's and the committee's ongoing review of investment operations and results, and considering the relative market conditions during certain reporting periods, the board and the committee concluded that each fund's investment results have been satisfactory for renewal of the agreement, and that CRMC's continued management should benefit each fund and its shareholders.

**3. Advisory fees and total expenses**

The board and the committee compared the advisory fees and total expense levels of each fund to those of other relevant funds, noting that each fund has a unitary fee structure. They observed that each fund's advisory fees and expenses are competitive with, and compared favorably to, those of other similar active exchange-traded funds and institutional share classes for comparable open-end funds included in the applicable Lipper categories. The board and the committee also reviewed information regarding the effective advisory fees charged to other funds and accounts managed by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by each fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising each fund and the other clients. The board and the committee concluded that each fund's contractual fee rate was fair and reasonable in relation to the services provided, as well as in relation to the risks assumed by the adviser in sponsoring and managing each fund, and that each fund's shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by each fund.

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| | |
|:---|:---|
| Capital Group Equity Exchange-Traded Funds | **79** |

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Approval of Investment Advisory and Service Agreement (continued)

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**4. Ancillary benefits**

The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC's relationship with each fund and other funds it sponsors, including fees for administrative services; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC's portfolio trading practices, noting that CRMC bears the cost of third-party research. The board and committee also noted that CRMC benefited from the use of commissions from portfolio transactions made on behalf of each fund to facilitate payment to certain broker-dealers for research to comply with regulatory requirements applicable to these firms, with all such amounts reimbursed by CRMC. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the fees paid to CRMC by each fund.

**5. Adviser financial information**

The board and the committee reviewed information regarding CRMC's costs of providing services to its U.S. registered fund business, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC's costs and related cost allocation methodology, as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC's investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC's profitability and compensation data to the reported results and data of a number of large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the registered fund industry and the capital markets, and the importance in that environment of CRMC's long-term profitability for maintaining its independence, company culture and management continuity. They further considered that shareholders benefited from the unitary fee structure because expenses were limited. The board and the committee also considered the fact that increases in assets would not lead to fee decreases, even if economies of scale are achieved, because the unitary fee structure does not contain breakpoints. The board and the committee concluded that each fund's contractual fee rate reflected a reasonable sharing of benefits between CRMC and each fund's shareholders.

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| | |
|:---|:---|
| **80** | Capital Group Equity Exchange-Traded Funds |

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#### ITEM 8 - Changes in and Disagreements with Accountants for Open-End Management Investment Companies
On July 3, 2025, PricewaterhouseCoopers LLP ("PwC") was dismissed and Deloitte & Touche LLP ("D&T") was appointed as the fund's independent registered public accounting firm for the fiscal year ending May 31, 2026 audit. The change in the fund's independent registered public accounting firm was approved by the fund's board of trustees, including a majority of the independent trustees, upon recommendation of the audit committee, as part of a broader effort to update board oversight and fund operations.

PwC's reports on the fund's financial statements as of and for the fiscal years ended May 31, 2024 and May 31, 2025 did not contain an adverse opinion or disclaimer of opinion nor were they qualified or modified as to uncertainty, audit scope or accounting principles. At no point during the fund's fiscal years ended May 31, 2024 and May 31, 2025 and the subsequent interim period through July 14, 2025, (i) were there any disagreements between management and PwC on any matter of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of PwC, would have caused them to make reference to the subject matter of the disagreements in connection with their reports on the fund's financial statements for such periods, and (ii) there were no "reportable events" of the kind described in Item 304(a)(1)(v) of Regulation S-K under the Securities Exchange Act of 1934, as amended.

During the fund's fiscal years ended May 31, 2024 and May 31, 2025 and the subsequent interim period through July 14, 2025, neither the fund, nor anyone on its behalf, consulted with D&T on items which: (i) concerned the application of accounting principles to a specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the fund's financial statements; or (ii) concerned the subject of a disagreement (as defined in paragraph (a)(1)(iv) of Item 304 of Regulation S-K) or reportable events (as described in paragraph (a)(1)(v) of said Item 304).

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#### ITEM 9 - Proxy Disclosures for Open-End Management Investment Companies
The information is included as part of the material filed under Item 7 of this Form under Matters submitted for shareholder vote.

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#### ITEM 10 - Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
Trustee compensation is paid by the investment adviser pursuant to the Investment Advisory and Service Agreement. Additional information related to the trustee compensation is available in the Registrant's Statement of Additional Information.

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#### ITEM 11 - Statement Regarding Basis for Approval of Investment Advisory Contract
The information is included as part of the material filed under Item 7 of this Form under Approval of Investment Advisory and Service Agreement.

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#### ITEM 12 - Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

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#### ITEM 13 - Portfolio Managers of Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

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#### ITEM 14 - Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

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#### ITEM 15 - Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant's board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ''interested persons'' of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board's composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. The committee also coordinates annual self-assessments of the board and evaluates, selects and nominates independent trustee candidates to the full board of trustees. While the committee normally is able to identify from its own and other resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant's Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.

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#### ITEM 16 - Controls and Procedures
(a) The Registrant's Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant's disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940) as of a date within 90 days of the filing date of this report, that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule.

(b) There were no changes in the Registrant's internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant's internal control over financial reporting.

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#### ITEM 17 - Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.

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#### ITEM 18 - Recovery of Erroneously Awarded Compensation
None

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#### ITEM 19 - Exhibits
(a)(1) Not applicable for filing of semi-annual reports to shareholders.

(a)(2) The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections [302](cert302.htm) and [906](cert906.htm) of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto.

#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

**Capital Group International Focus Equity ETF**

By /s/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: January 30, 2026

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.

By /s/ Michael W. Stockton

Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Date: January 30, 2026

By /s/ Sandra Chuon

Sandra Chuon, Treasurer and

Principal Financial Officer

Date: January 30, 2026

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## Ex-99.Cert

**CERTIFICATION**

**I, Michael W. Stockton, certify that:**

1. I have reviewed this report on Form N-CSR of **Capital Group International Focus Equity ETF**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: January 30, 2026

<u>/s/ Michael W. Stockton</u> Michael W. Stockton,

Executive Vice President and Principal Executive Officer

Capital Group International Focus Equity ETF

**CERTIFICATION**

I, **Sandra Chuon**, certify that:

1. I have reviewed this report on Form N-CSR of **Capital Group International Focus Equity ETF**;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940) and internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of trustees (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: January 30, 2026

<u>/s/ Sandra Chuon</u> Sandra Chuon,

Treasurer and Principal Financial Officer

Capital Group International Focus Equity ETF

------

## Exhibit 99.906

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

MICHAEL W. STOCKTON, Executive Vice President and Principal Executive Officer, and SANDRA CHUON, Treasurer and Principal Financial Officer of Capital Group International Focus Equity ETF (the "Registrant"), each certify to the best of her or his knowledge that:

1. The Registrant's periodic report on Form N-CSR for the period ended November 30, 2025 (the "Form N-CSR") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Principal Executive Officer

**Capital Group International Focus Equity ETF**

<u>/s/ Michael W. Stockton</u>

Michael W. Stockton, Executive Vice President and Principal Executive Officer

Date: January 30, 2026

Principal Financial Officer

**Capital Group International Focus Equity ETF**

<u>/s/ Sandra Chuon</u>

Sandra Chuon, Treasurer and Principal Financial Officer

Date: January 30, 2026

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to **Capital Group International Focus Equity ETF** and will be retained by **Capital Group International Focus Equity ETF** and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. Section 1350 and is not being filed as part of the Form N-CSR filed with the Commission.

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