# EDGAR Filing Document

**Accession Number:** 0001761055
**File Stem:** 0001193125-26-245161
**Filing Date:** 2026-5
**Character Count:** 12503
**Document Hash:** 70d7443c84ce2d51e061efbe603d39f8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-245161.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-245161

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**EFFECTIVENESS DATE**: 20260528

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock ETF Trust
- **CENTRAL INDEX KEY:** 0001761055

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-228832
- **FILM NUMBER:** 261035384

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 8004417762

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Series and Classes Contracts Data

### iShares International Equity Factor Rotation Active ETF (Series ID: S000093567)

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|  |  |
|:---|:---|
| Class Name                                              | Class ID   |
| iShares International Equity Factor Rotation Active ETF | C000261955 |

---

## Series and Classes Contracts Data

### iShares International Equity Factor Rotation Active ETF (Series ID: S000093567)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000261955 | iShares International Equity Factor Rotation Active ETF |  |

**BLACKROCK ETF TRUST** 

iShares International Equity Factor Rotation Active ETF

(the "Fund")

**Supplement dated May 28, 2026 (the "Supplement") to the Fund's** 

**Statement of Additional Information ("SAI"), dated July 9, 2025, as supplemented or amended to date** 

**The following changes are made to the Fund's SAI:** 

**The section of the SAI entitled "Investment Advisory, Administrative and Distribution Services — Portfolio Managers" is deleted in its entirety and replaced with the following:** 

**Portfolio Managers.** As of May 31, 2025 (except as otherwise noted), the individuals named as Portfolio Managers in the Fund's Prospectus were also primarily responsible for the day-to-day management of other BlackRock funds and certain other types of portfolios and/or accounts as follows:

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| | | |
|:---|:---|:---|
| **Types of Accounts** | **Number** | **Total Assets** |
| **Philip Hodges, PhD**<br> Registered Investment Companies<br> Other Pooled Investment Vehicles<br> Other Accounts | 3<br> 28<br> 14 | $21.94 Billion<br> 11.79 Billion<br> 7.33 Billion |
| **Jeff Shen, PhD<sup>1</sup>**<br> Registered Investment Companies<br> Other Pooled Investment Vehicles<br> Other Accounts | 8<br> 260<br> 13 | $1.60 Billion<br> 19.60 Billion<br> 6.93 Billion |
| **Stephanie Lee<sup>1</sup>**<br> Registered Investment Companies<br> Other Pooled Investment Vehicles<br> Other Accounts | 2<br> 4<br> 0 | $189.0 Million<br> 387.5 Million<br> 0 |

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<sup>1</sup> Information as of March 31, 2026.

Pursuant to BFA's policy, investment opportunities are allocated equitably among the Fund and other portfolios and accounts. For example, under certain circumstances, an investment opportunity may be restricted due to limited supply in the market, legal constraints or other factors, in which event the investment opportunity will be allocated equitably among those portfolios and accounts, including the Fund, seeking such investment opportunity. As a consequence, from time to time the Fund may receive a smaller allocation of an investment opportunity than it would have if the Portfolio Managers and BFA and its affiliates did not manage other portfolios or accounts.

Like the Fund, the other portfolios or accounts for which the Portfolio Managers are primarily responsible for the day-to-day portfolio management generally pay an asset-based fee to BFA or its affiliates, as applicable, for its advisory services. One or more of those other portfolios or accounts, however, may pay BFA or its affiliates a performance-based fee in lieu of, or in addition to, an asset-based fee for its advisory services. A portfolio or account with a performance-based fee would pay BFA or its affiliates a portion of that portfolio's or account's gains, or would pay BFA or its affiliates more for its services than would otherwise be the case if BFA or any of its affiliates meets or exceeds specified performance targets. Performance-based fee arrangements could present an incentive for BFA or its affiliates to devote greater resources, and allocate more investment opportunities, to the portfolios or accounts that have those fee arrangements, relative to other portfolios or accounts, in order to earn larger fees. Although BFA and each of its affiliates have an obligation to allocate resources and opportunities equitably among portfolios and accounts and intend to do so, shareholders of the Fund should be aware that, as with any group of portfolios and accounts managed by an investment adviser and/or its affiliates

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pursuant to varying fee arrangements, including performance-based fee arrangements, there is the potential for a conflict of interest, which may result in the Portfolio Managers favoring those portfolios or accounts with performance-based fee arrangements.

The table below shows, for each Portfolio Manager, the number of portfolios or accounts of the types set forth in the above table and the aggregate of total assets in those portfolios or accounts with respect to which the investment management fees are based on the performance of those portfolios or accounts as of May 31, 2025 (except as otherwise noted):

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| | | |
|:---|:---|:---|
| **Types of Accounts** | **Number of Other<br>Accounts with<br>Performance Fees<br>Managed by Portfolio<br>Manager** | **Aggregate of<br>Total Assets** |
| **Philip Hodges, PhD**<br> Registered Investment Companies<br> Other Pooled Investment Vehicles<br> Other Accounts | 0<br> 3<br> 0 | $0<br> 1.42 Billion<br> 0 |
| **Jeff Shen, PhD<sup>1</sup>**<br> Registered Investment Companies<br> Other Pooled Investment Vehicles<br> Other Accounts | 0<br> 14<br> 3 | $0<br> 11.26 Billion<br> 3.90 Billion |
| **Stephanie Lee<sup>1</sup>**<br> Registered Investment Companies<br> Other Pooled Investment Vehicles<br> Other Accounts | 0<br> 1<br> 0 | $0<br> 191.9 Million<br> 0 |

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<sup>1</sup> Information as of March 31, 2026.

**Portfolio Manager Compensation Overview** 

The discussion below describes Mr. Hodges's compensation as of May 31, 2025 and Mr. Shen and Ms. Lee's compensation as of March 31, 2026.

BlackRock, Inc.'s financial arrangements with its portfolio managers, its competitive compensation and its career path emphasis at all levels reflect the value senior management places on key resources. Compensation may include a variety of components and may vary from year to year based on a number of factors. The principal components of compensation include a base salary, a performance-based discretionary bonus, participation in various benefits programs and one or more of the incentive compensation programs established by BlackRock, Inc.

**Base compensation**. Generally, portfolio managers receive base compensation based on their position with the firm.

**Discretionary Incentive Compensation**. Discretionary incentive compensation is a function of several components: the performance of BlackRock, Inc., the performance of the portfolio manager's group within BlackRock, the investment performance, including risk-adjusted returns, of the firm's assets under management or supervision by that portfolio manager relative to predetermined benchmarks, and the individual's performance and contribution to the overall performance of these portfolios and BlackRock. Among other things, BlackRock's Chief Investment Officers make a subjective determination with respect to each portfolio manager's compensation based on the performance of the Funds and other accounts managed by each portfolio manager

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relative to the various benchmarks. Performance is generally assessed over trailing 1-,3-, and 5-year periods relative to applicable benchmarks. The relative benchmarks for these portfolio managers are:

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| | |
|:---|:---|
| **Portfolio Manager** | **Applicable Benchmarks** |
| Philip Hodges, PhD | A combination of market-based indices (S&P500, MSCI All Country World Index, MSCI US Index, Bloomberg US Aggregate Bond Index, ICE BofA 3-Month U.S. Treasury Bill Index) and certain customized indices. |
| Stephanie Lee<br> Jeff Shen, PhD | No Benchmarks. |

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**Distribution of Discretionary Incentive Compensation.** Discretionary incentive compensation is distributed to portfolio managers in a combination of cash, deferred BlackRock, Inc. stock awards, and/ or deferred cash awards that notionally track the return of certain BlackRock investment products.

Portfolio managers receive their annual discretionary incentive compensation in the form of cash. Portfolio managers whose total compensation is above a specified threshold also receive deferred BlackRock, Inc. stock awards annually as part of their discretionary incentive compensation. Paying a portion of discretionary incentive compensation in the form of deferred BlackRock, Inc. stock puts compensation earned by a portfolio manager for a given year "at risk" based on BlackRock's ability to sustain and improve its performance over future periods. In some cases, additional deferred BlackRock, Inc. stock may be granted to certain key employees as part of a long-term incentive award to aid in retention, align interests with long-term shareholders and motivate performance. Deferred BlackRock, Inc. stock awards are generally granted in the form of BlackRock, Inc. restricted stock units that vest pursuant to the terms of the applicable plan and, once vested, settle in BlackRock, Inc. common stock. The portfolio managers of this Fund have deferred BlackRock, Inc. stock awards.

For certain portfolio managers, a portion of the discretionary incentive compensation is also distributed in the form of deferred cash awards that notionally track the returns of select BlackRock investment products they manage, which provides direct alignment of portfolio manager discretionary incentive compensation with investment product results. Deferred cash awards vest ratably over a number of years and, once vested, settle in the form of cash. Only portfolio managers who manage specified products and whose total compensation is above a specified threshold are eligible to participate in the deferred cash award program.

**Other Compensation Benefits.** In addition to base salary and discretionary incentive compensation, portfolio managers may be eligible to receive or participate in one or more of the following:

*Incentive Savings Plans* — BlackRock, Inc. has created a variety of incentive savings plans in which BlackRock, Inc. employees are eligible to participate, including a 401(k) plan, the BlackRock Retirement Savings Plan (RSP), and the BlackRock Employee Stock Purchase Plan (ESPP). The employer contribution components of the RSP include a company match equal to 50% of the first 8% of eligible pay contributed to the plan capped at $5,000 per year, and a company retirement contribution equal to 3-5% of eligible compensation up to the Internal Revenue Service limit ($360,000 for 2026). The RSP offers a range of investment options, including registered investment companies and collective investment funds managed by the firm. BlackRock, Inc. contributions follow the investment direction set by participants for their own contributions or, absent participant investment direction, are invested into a target date fund that corresponds to, or is closest to, the year in which the participant attains age 65. The ESPP allows for investment in BlackRock, Inc. common stock at a 5% discount on the fair market value of the stock on the purchase date. Annual participation in the ESPP is limited to the purchase of 1,000 shares of common stock or a dollar value of $25,000 based on its fair market value on the purchase date. All of the eligible portfolio managers are eligible to participate in these plans.

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As of July 9, 2025 with respect to Mr. Hodges and March 31, 2026 with respect to Mr. Shen and Ms. Lee, the Portfolio Managers did not beneficially own shares of the Fund.

**Shareholders should retain this Supplement for future reference.** 

SAI-IDYN-0526SUP