# EDGAR Filing Document

**Accession Number:** 0001981627
**File Stem:** 0001104659-25-103143
**Filing Date:** 2025-10
**Character Count:** 24072
**Document Hash:** 1110bd1a53a0e84a57c5fbd042691b91
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-103143.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001104659-25-103143

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**EFFECTIVENESS DATE**: 20251028

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GMO ETF Trust
- **CENTRAL INDEX KEY:** 0001981627

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-274096
- **FILM NUMBER:** 251424700

**BUSINESS ADDRESS:**
- **STREET 1:** 53 STATE STREET
- **STREET 2:** FLOOR 33
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109
- **BUSINESS PHONE:** 212-309-6231

**MAIL ADDRESS:**
- **STREET 1:** 53 STATE STREET
- **STREET 2:** FLOOR 33
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02109

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** 2023 ETF Series Trust II
- **DATE OF NAME CHANGE:** 20230614

## Series and Classes Contracts Data

### GMO Horizons ETF (Series ID: S000094782)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000263322 | GMO Horizons ETF | GMOH            |

**GMO Horizons ETF**

**Summary Prospectus**<br> **October 28, 2025**<br>

**GMO Horizons ETF**

Principal U.S. Listing Exchange for the Fund: NYSE Arca, Inc.

Ticker Symbol: GMOH

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. You can find the Fund's prospectus, statement of additional information and other information about the Fund online at <u>https://www.gmo.com/americas/investment-capabilities/etfs</u>. You can also get this information at no cost by calling 1-617-346-7646, by sending an email request to SHS@gmo.com, or by contacting your financial intermediary. The Fund's [prospectus and statement of additional information,](https://www.sec.gov/ix?doc=/Archives/edgar/data/1981627/000110465925080885/tm2517330d2_485bpos.htm) each dated October 28, 2025, each as may be revised and/or supplemented from time to time, are incorporated by reference into this summary prospectus.

**Investment Objective**

The GMO Horizons ETF (the "Fund") seeks total return.

**Fees and Expenses**

The table below describes the fees and expenses that you may pay if you buy, hold or sell shares of the Fund. **You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and Example below.**

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| | |
|:---|:---|
| **Annual Fund Operating Expenses**<br> (Expenses that you pay each year as a percentage of the value of your investment)** | |
| Management fee | 0.25% |
| Distribution and service (12b-1) fees | 0.00% |
| Other expenses<sup>1</sup> | 0.00% |
| Total annual Fund operating expenses | 0.25% |

---

<sup>1</sup> Based on estimated amounts for the current fiscal year.

**Example**

This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then sell or hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

---

| | |
|:---|:---|
| **1 Year** | **3 Years** |
| $26 | $80 |

---

**Portfolio Turnover**

The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example above, affect the Fund's performance. Because the Fund had not commenced operations prior to the most recent fiscal year end, it does not have a portfolio turnover rate to provide.

**Principal Investment Strategies**

The Fund is an actively managed exchange-traded fund ("ETF") that seeks to achieve its investment objective by investing primarily in global equity markets, both developed and emerging. The Fund's strategy is a reflection of Grantham, Mayo, Van Otterloo & Co. LLC's, ("GMO" or the "Adviser") view that the world economy is transitioning to a lower carbon future, a transition GMO believes will create secular growth opportunities. The Fund seeks to capture these opportunities and mitigate related risks through significant exposure to investments providing impactful climate solutions and a lower total carbon footprint (direct and indirect) than the MSCI ACWI ex-Fossil Fuels Index, while maintaining diversification and controlling for exposure to environmental, social, and governance (ESG) risks.

In selecting securities for purchase and sale by the Fund, GMO uses a combination of systematic investment methods and datasets, as well as other publicly available financial information. In constructing the Fund's portfolio, GMO considers total emissions, company-level revenues associated with environmentally positive business activities (e.g., water management, treatment and delivery, waste and pollution management, efficient transportation), position size, sector and industry exposure, country and region exposure, currencies, market capitalization, liquidity, and transaction costs. At times, the Fund may have substantial exposure to a single asset class, industry, sector, country, region, issuer, or currency and companies with similar market capitalizations. The Fund may invest in securities of companies of any market capitalization. The factors GMO considers and investment methods GMO uses can change over time.

The Fund also may invest in the GMO U.S. Treasury Fund, a mutual fund advised by GMO, or in money market funds unaffiliated with GMO, and directly in the types of investments typically held by money market funds.

**Principal Risks of Investing in the Fund**

The value of your investment in the Fund, as well as the amount of return you receive on your investment, may fluctuate significantly. Many factors can affect this value, and you may lose money by investing in the Fund or your investment in the Fund could underperform other investments. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the FDIC or any government agency. The principal risks of investing in the Fund are summarized below and are all considered a "principal risk of investing in the Fund regardless of the order in which it appears. For a more complete discussion of these risks, see "Additional Principal Risk Information."

&nbsp;&nbsp;&nbsp;&nbsp;● *Market Risk - Equities* – The market price of an equity in the Fund's portfolio may decline due to factors affecting the issuer or its industry
 or the economy and equity markets generally. GMO uses quantitative models as part of its investment process. GMO's models may
 not accurately predict future market movements. In addition, GMO's models rely on assumptions and data that are subject to
 limitations (e.g., inaccuracies, staleness) that could adversely affect their predictive value. If the Fund purchases an equity for
 less than its fundamental fair (or intrinsic) value as assessed by GMO, the Fund runs the risk that the market price of the equity
 will not appreciate or will decline (for example, if GMO's assessment proves to be incorrect or the market fails to recognize
 the equity's intrinsic value). The Fund also may purchase equities that typically trade at higher multiples of current earnings
 than other securities, and the market prices of these equities often are more sensitive to changes in future earnings expectations
 and interest rates than the market prices of equities trading at lower multiples. Declines in stock market prices generally are likely
 to reduce the net asset value of the Fund's shares.

&nbsp;&nbsp;&nbsp;&nbsp;● *Management and Operational Risk* – The Fund runs the risk that GMO's investment techniques will fail to produce intended results.
 GMO uses quantitative models as part of its investment process. GMO's models may not accurately predict future market movements.
 In addition, GMO's models rely on assumptions and data that are subject to limitations (e.g., inaccuracies, staleness) that
 could adversely affect their predictive value. The Fund also runs the risk that GMO's assessment of an investment, including
 a security's fundamental fair (or intrinsic) value, is wrong or that deficiencies in GMO's or another service provider's
 internal systems or controls will cause losses for the Fund or impair Fund operations.

&nbsp;&nbsp;&nbsp;&nbsp;● *Non-U.S. Investment Risk* – The market prices of many non-U.S. securities fluctuate more than those of U.S. securities. Many non-U.S. securities
 markets are less stable, smaller, less liquid, and less regulated than U.S. securities markets, and the cost of trading in those
 markets often is higher than in U.S. securities markets. In addition, non-U.S. securities issuers often are not subject to as much
 regulation as U.S. issuers, and the reporting, recordkeeping, accounting, custody, and auditing standards to which those issuers
 are subject often are not as rigorous as U.S. standards. In addition, the Fund is subject to taxation by countries other than the
 United States, including potentially on a retroactive basis, on (if) capital gains it realizes or dividends, interest, or other
 amounts it realizes or accrues in respect of non-U.S. investments; (ii) transactions in those investments; and (iii) repatriation
 of proceeds generated from the sale or other disposition of those investments. Also, the Fund needs a license to invest directly
 in securities traded in many non-U.S. securities markets, and the Fund is subject to the risk that its license is terminated or suspended.
 In some non-U.S. securities markets, prevailing custody and trade settlement practices (e.g., the requirement to pay for securities
 prior to receipt) expose the Fund to credit and other risks. Further, adverse changes in investment regulations, capital requirements
 or exchange controls could adversely affect the value of the Fund's investments. The risks above (such as substantial price
 fluctuations and market instability, illiquidity and lack of regulation) and other risks (e.g., nationalization, expropriation or
 other confiscation of assets of non-U.S. issuers, difficulties enforcing legal judgments or contractual rights and geopolitical risks)
 tend to be higher for investments in the securities of issuers tied economically to emerging countries. The economies of emerging
 countries often depend predominantly on only a few industries or commodities and often are more volatile than the economies of developed
 countries.

&nbsp;&nbsp;&nbsp;&nbsp;● *Focused Investment Risk –* Because the Fund's strategy seeks to obtain significant exposure to investments providing impactful climate solutions
 and lower total carbon footprint (direct and indirect) than the MSCI ACWI ex-Fossil Fuels Index, the Fund will be more susceptible
 to events or factors affecting these companies, and the market prices of its portfolio securities may be more volatile than those
 of funds that are more diversified. The Fund is particularly exposed to such developments as changes in global and regional climates,
 environmental protection regulatory actions, changes in government standards and subsidy levels, changes in taxation and other domestic
 and international political, regulatory and economic developments (such as potential cutbacks on funding for the Environmental Protection
 Agency). Companies involved in alternative fuels also may be adversely affected by the increased use of, or decreases in prices for,
 oil or other fossil fuels. In addition, scientific developments, such as breakthroughs in the remediation of global warming, and
 changes in governmental policies relating to the effects of pollution may affect investments in pollution control, which could in
 turn affect these companies. Such companies also may be significantly affected by technological changes in industries focusing on
 energy, pollution control and mitigation of global warming. Because society's focus on climate change issues is relatively
 new, the emphasis and direction of governmental policies is subject to significant change, and rapid technological change could render
 even new approaches and products obsolete. Some companies involved in climate change-related initiatives have more limited operating
 histories and smaller market capitalizations on average than companies with more developed and established business models. As a
 result of these and other factors, the market prices of securities of some of the companies in which the Fund may invest tend to
 be considerably more volatile than those of companies in more established sectors and industries. **  

&nbsp;&nbsp;&nbsp;&nbsp;● *Market Disruption and Geopolitical Risk* – Geopolitical and other events (e.g., wars, pandemics, sanctions, terrorism, diplomatic tensions, dramatic
 changes in regulatory and/or foreign policy, cyberattacks, and rapid technological developments such as artificial intelligence)
 often disrupt securities markets and adversely affect the general economy or particular economies and markets. Those events, as well
 as other changes in non-U.S. and U.S. economic and political conditions, could exacerbate other risks or otherwise reduce the value
 of the Fund's investments.

&nbsp;&nbsp;&nbsp;&nbsp;● *Currency Risk –* Fluctuations in exchange rates can adversely affect the market value of the Fund's foreign currency holdings and investments
 denominated in foreign currencies.

&nbsp;&nbsp;&nbsp;&nbsp;● *ETF Risks* –
 The Fund is an ETF and, as a result of this structure, is exposed to the following risks:

o *Costs of Buying or Selling Shares Risk*. Due to the costs of buying or selling Fund shares, including brokerage commissions imposed by
 brokers and the variance in bid-ask spreads, frequent trading of Fund shares may significantly reduce investment results and an investment
 in Fund shares may not be advisable for investors who anticipate regularly making small investments.

o *Limited Authorized Participants, Market Makers and Liquidity Providers Risk*. Because the Fund is an ETF, typically only a limited number
 of institutional investors (known as "Authorized Participants") are authorized to purchase and redeem shares directly
 from the Fund. Retail investors cannot transact directly with the Fund. In addition, there may be a limited number of market makers
 and/or liquidity providers in the marketplace to transact in Fund shares, there may be demand for Fund shares thereby increasing
 the market price above NAV, or lack of demand, which may decrease the market price below NAV, or in stressed market conditions, the
 market for Fund shares may become less liquid in response to deteriorating liquidity in the markets for the Fund's underlying portfolio
 holdings. As a result of these considerations, Fund shares may trade at a material premium or discount to net asset value ("NAV")
 or these factors may, in turn, lead to wider spreads between the bid and ask price of Fund shares. In addition, the Fund may face
 possible delisting if: (i) Authorized Participants exit the business or otherwise become unable to process creation and/or redemption
 orders and no other Authorized Participants step forward to perform these services, or (ii) market makers and/or liquidity providers
 exit the business or significantly reduce their business activities and no other entities step forward to perform their functions.

o *Trading Risk.* Shares of the Fund may trade on the NYSE Arca, Inc. (the "Exchange") above (premium) or below (discount)
 their NAV. In stressed market conditions, the market for Fund shares may become less liquid in response to deteriorating liquidity
 in the markets for the Fund's underlying portfolio holdings, which may increase the variance between the market price of the
 Fund shares and the value of its underlying holdings. This can be reflected as a spread between the bid and ask prices for the Fund
 shares quoted during the day or a premium or discount in the closing price from the Fund's NAV. In addition, although the Fund's
 shares are currently listed on the Exchange, there can be no assurance that an active trading market for Fund shares will develop
 or be maintained. Trading in Fund shares may be halted due to market conditions or for reasons that, in the view of the Exchange,
 make trading in shares of the Fund inadvisable.

o *Cash Transactions Risk*. The Fund may effect some of its creations and redemptions for cash, rather than in-kind securities. As a result, the Fund
 may have to sell portfolio securities at inopportune times in order to obtain the cash needed to meet redemption orders. This may
 cause the Fund to sell a security and recognize a capital gain or loss that might not have been incurred if it had made a redemption
 in-kind. The use of cash creations and redemptions may also cause the Fund's shares to trade in the market at wider bid-ask
 spreads or greater premiums or discounts to the Fund's NAV. In effecting creations and redemptions in exchange for cash, the
 Fund may incur certain costs, including brokerage costs in connection with investing cash received and may recognize capital gains
 in connection with cash redemptions, unlike an ETF that effects creations and redemptions only in-kind. In addition, costs could
 be imposed on the Fund which would have the effect of decreasing the Fund's NAV to the extent the costs are not offset by a
 transaction fee payable by an Authorized Participant.

o *National Closed Market Trading Risk.* To the extent that the underlying securities or other instruments held by the Fund trade on foreign
 exchanges or in foreign markets that may be closed when the securities exchange on which the Fund's shares trade is open, there
 are likely to be deviations between the current price of such an underlying security and the last quoted price for the underlying
 security (i.e., the Fund's quote from the closed foreign market). The impact of a closed foreign market on the Fund is likely
 to be greater where a large portion of the Fund's underlying securities or other instruments trade on that closed foreign market
 or when the foreign market is closed for unscheduled reasons. These deviations could result in premiums or discounts to the Fund's
 NAV that may be greater than those experienced by other ETFs.

&nbsp;&nbsp;&nbsp;&nbsp;● *Smaller Company Risk* – Smaller companies may have limited product lines, markets, or financial resources, lack the competitive strength of larger
 companies, have less experienced managers or depend on a few key employees. The securities of companies with smaller market capitalizations
 often are less widely held and trade less frequently and in lesser quantities, and their market prices often fluctuate more, than
 the securities of companies with larger market capitalizations.

&nbsp;&nbsp;&nbsp;&nbsp;● *Illiquidity Risk* – Low trading volume, lack of a market maker, large position size, or legal restrictions increase the risk that the Fund or
 an underlying fund is limited or prevented from selling particular securities at desirable prices at a particular time or at all.

&nbsp;&nbsp;&nbsp;&nbsp;● *New/Smaller Fund Risk* – A new or smaller fund is subject to the risk that its performance may not represent how the fund is expected to or may perform
 in the long term. In addition, new funds have limited operating histories for investors to evaluate and new and smaller funds may
 not attract sufficient assets to achieve investment and trading efficiencies. There can be no assurance that the Fund will achieve
 an economically viable size, in which case it could ultimately liquidate.

**Performance Information**

Because the Fund had not completed a full calendar year of operations as of the date of this prospectus, performance information for the Fund is not included. Updated performance information will be available on the Fund's website at https://www.gmo.com/americas/investment-capabilities/etfs. Of course, the Fund's past performance (before and after taxes) does not necessarily indicate how the Fund will perform in the future.

**Investment Adviser**

Grantham, Mayo, Van Otterloo & Co. LLC serves as the investment adviser to the Fund.

Investment Team and Senior Members of GMO jointly and primarily responsible for portfolio management of the Fund:

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| | | |
|:---|:---|:---|
| **Investment Team** | **Senior Member<br> (Length of Service with Fund)** | **Title** |
| Systematic Equity | George Sakoulis (since inception in 2025) | Head, Systematic Equity Team, GMO |
| Systematic Equity | Warren Chiang (since inception in 2025) | Portfolio Manager, Systematic Equity Team, GMO |

---

*For important information about the purchase and sale of shares of the Fund, taxes, and financial intermediary compensation please turn to "Summary Information About Purchasing and Selling Shares, Taxes, and Financial Intermediary Compensation" on page 40 of the Prospectus.*

**Purchase and Sale of Fund Shares**

The Fund issues shares to, and redeems shares from, certain institutional investors known as "Authorized Participants" (typically market makers or other broker-dealers) only in large blocks of Fund shares known as "Creation Units." Creation Unit transactions are generally conducted in exchange for the deposit or delivery of a portfolio of in-kind securities designated by the Fund, cash or a combination of securities and cash.

Individual Fund shares may only be purchased and sold in the secondary market through a broker or dealer at a market price. Because Fund shares trade at market prices rather than at NAV, Fund shares may trade at a price greater than NAV (premium) or less than NAV (discount). When buying or selling shares in the secondary market, you may incur costs attributable to the difference between the highest price a buyer is willing to pay to purchase shares of the Fund (bid) and the lowest price a seller is willing to accept for shares of the Fund (ask) (the "bid-ask spread"). When available, recent information regarding the Fund's NAV, market price, premiums and discounts, and bid-ask spreads will be available at https://www.gmo.com/americas/investment-capabilities/etfs.

**U.S. Tax Information**

The Fund intends to elect to be treated, and intends to qualify and be treated each year, as a regulated investment company (a "RIC") under Subchapter M of the Internal Revenue Code of 1986, as amended (the "Code") for U.S. federal income tax purposes and to distribute net investment income and net realized capital gains, if any, to shareholders.

Distributions made by the Fund may be taxable as ordinary income, qualified dividend income (if applicable), or long-term capital gains, unless you are investing through a tax-advantaged arrangement, such as a 401(k) plan or individual retirement account. In that case, you may be taxed when you take a distribution from such account, depending on the type of account, the circumstances of your distribution, and other factors.

**Payments to Broker-Dealers and Other Financial Intermediaries**

If you purchase Fund shares through a broker-dealer or other financial intermediary (such as a bank), GMO or its affiliates may pay the financial intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.