Avantis Launches Four New Active ETFs

June 29, 2023 - Kansas City, Mo. - Today, Avantis Investors^®, a $25 billion* investment offering from global asset manager American Century Investments^®, expands its exchange traded fund (ETF) platform with the listing of four new actively managed ETFs: Avantis All Equity Markets Value ETF (AVGV), Avantis All International Markets Equity ETF (AVNM), Avantis All International Markets Value ETF (AVNV) and Avantis Moderate Allocation ETF (AVMA). Each fund seeks long-term capital appreciation and is listed on the New York Stock Exchange (NYSE Arca, Inc.).

"It has always been our goal to offer a well-rounded suite of value-added funds for investors," said Avantis Chief Investment Officer Eduardo Repetto. "We are excited to add these four new ETFs to our lineup and expand the range of low-cost, tax-efficient solutions available to our clients."

All four ETFs are "fund of funds," and utilize a range of existing Avantis ETFs to build out multi-region and multi-asset class solutions. AVGV offers global equity exposure, while AVNM and AVNV offer exposure to non-U.S. developed and emerging markets. AVMA is designed to deliver a more balanced allocation, investing in both equity and fixed income ETFs.

"The fund of fund concept – or more precisely in this case the ETF of ETF – is one we have already deployed with the Avantis All Equity Markets ETF (AVGE) and seen significant adoption from investors," said Senior Portfolio Manager Mitchell Firestein. "I believe this really offers the best of both worlds. Investors get access to a range of our underlying, low-cost active funds with the added benefit of professional and tax-efficient rebalancing inside a single ETF. It helps streamline allocations for investors."

The ETFs will be co-managed by Repetto and Firestein, Senior Portfolio Managers Daniel Ong, CFA and Ted Randall, and Portfolio Manager Matthew Dubin. Following is information on the new ETFs:

Name	Gross Expense Ratio	Net Expense Ratio
Avantis All Equity Markets Value ETF	0.28%	0.26%
Avantis All International Markets Equity ETF	0.33%	0.31%
Avantis All International Markets Value ETF	0.36%	0.34%
Avantis Moderate Allocation ETF	0.23%	0.21%

The advisor expects this waiver to continue until June 21, 2024, and cannot terminate it prior to such date without the approval of the Board of Directors. Review the annual or semiannual report for the most current information.

The four new funds add to Avantis Investors' lineup of ETFs and mutual funds spanning equities, fixed income and real estate. Current Avantis funds include:

• Avantis All Equity Markets ETF (AVGE);

• Avantis Core Fixed Income ETF (AVIG) and mutual fund (AVIGX);

• Avantis Core Municipal Fixed Income ETF (AVMU);

• Avantis Emerging Markets Equity ETF (AVEM) and mutual fund (AVEEX);

• Avantis Emerging Markets Value ETF (AVES);

• Avantis Inflation Focused Equity ETF (AVIE);

• Avantis International Equity ETF (AVDE) and mutual fund (AVDEX);

• Avantis International Large Cap Value ETF (AVIV);

• Avantis International Small Cap Value ETF (AVDV) and mutual fund (AVDVX);

• Avantis Real Estate ETF (AVRE);

• Avantis Responsible Emerging Markets Equity ETF (AVSE);

• Avantis Responsible International Equity ETF (AVSD);

• Avantis Responsible U.S. Equity ETF (AVSU);

• Avantis Short-Term Fixed Income ETF (AVSF) and mutual fund (AVSFX);

• Avantis U.S. Equity ETF (AVUS) and mutual fund (AVUSX);

• Avantis U.S. Large Cap Value ETF (AVLV) and mutual fund (AVLVX);

• Avantis U.S. Small Cap Equity ETF (AVSC); and

• Avantis U.S. Small Cap Value ETF (AVUV) and mutual fund (AVUVX).

Avantis helps clients achieve their investment goals through a persistent focus on providing well-diversified investment solutions that fit seamlessly into asset allocations and combine the potential for added value with the consistency of indexing. Repetto and Chief Operating Officer Patrick Keating, CFA, CPA have led Avantis since its start.

About American Century Investments

American Century Investments is a leading global asset manager focused on delivering investment results and building long-term client relationships while supporting breakthrough medical research. Founded in 1958, American Century Investments' 1,400 employees serve financial professionals, institutions, corporations and individual investors from offices in New York; London; Frankfurt; Hong Kong; Sydney; Santa Clara, Calif.; and Kansas City, Mo. Jonathan Thomas is president and chief executive officer, and Victor Zhang serves as chief investment officer. Delivering investment results to clients enables American Century Investments to distribute over 40% of its dividends to the Stowers Institute for Medical Research, a 500-person, nonprofit basic biomedical research organization. The Institute owns more than 40% of American Century Investments and has received dividend payments of nearly $2 billion since 2000. For more information about American Century Investments, visit americancentury.com.

*Assets under supervision as of 06/15/2023.

AVGV, AVNM, AVNV, AVMA and AVGE: The fund's performance and risks reflect the performance and risks of the underlying funds in which it invests. By investing in underlying funds, the primary fund becomes a shareholder of the underlying fund and bears its proportionate share of the underlying fees and expenses.

AVGV, AVNM, AVNV and AVMA: The fund's performance and risks depend in part on the managers' skill in selecting and weighting the asset classes and underlying funds and implementing any deviations from the target range, which may differ from actual market conditions.

AVGV, AVNM, AVNV, AVMA and AVGE: International investing involves special risks, such as political instability and currency fluctuations. Investing in emerging markets may accentuate these risks.

AVGV, AVNM, AVNV, AVMA and AVGE: Historically, small- and/or mid-cap stocks have been more volatile than the stock of larger, more established companies. Smaller companies may have limited resources, product lines and markets, and their securities may trade less frequently and in more limited volumes than the securities of larger companies.

AVMA: Generally, as interest rates rise, the value of the securities held in the fund will decline. The opposite is true when interest rates decline.