2023 Qualified Dividend Income

Qualified dividends are dividends received by a fund from a stock, provided that the fund has held the stock for a required holding period. Mutual funds may pass through to investors any qualified dividends it receives. At the fund level, these may be applied to ordinary income and/or short-term capital gains distributions.

Qualified dividends are taxed at the long-term capital gain rates. To qualify for these reduced rates, you must own the mutual fund's shares for a period of 61 days or longer. That period must include the date the fund distributed the dividends.

The table below reflects the percentage of each fund's distributions that are considered qualified.

FUND NAME

PERCENTAGE TO APPLY TO ORDINARY DIVIDENDS*

Avantis All Equity Markets ETF¹

74.90%

Avantis All Equity Markets Value ETF¹

70.37%

Avantis All International Markets Equity ETF¹

42.71%

Avantis All International Markets Value ETF¹

50.21%

Avantis Core Fixed Income ETF¹

0.00%

Avantis Core Fixed Income Fund

0.00%

Avantis Core Municipal Fixed Income ETF¹

0.00%

Avantis Core Municipal Fixed Income Fund²

0.00%

Avantis Emerging Markets Equity ETF¹

43.29%

Avantis Emerging Markets Equity Fund

47.21%

Avantis Emerging Markets Small Cap Equity ETF¹

76.96%

Avantis Emerging Markets Value ETF¹

38.10%

Avantis Inflation Focused Equity ETF¹

100.00%

Avantis International Equity ETF¹

70.15%

Avantis International Equity Fund

62.59%

Avantis International Large Cap Value ETF¹

74.30%

Avantis International Small Cap Equity ETF¹

91.50%

Avantis International Small Cap Value ETF¹

67.54%

Avantis International Small Cap Value Fund

57.40%

Avantis Moderate Allocation ETF¹

41.62%

Avantis Real Estate ETF¹

19.77%

Avantis Responsible Emerging Markets Equity ETF¹

37.15%

Avantis Responsible International Equity ETF¹

80.26%

Avantis Responsible U.S. Equity ETF¹

100.00%

Avantis Short-Term Fixed Income ETF¹

0.00%

Avantis Short-Term Fixed Income Fund

0.00%

Avantis U.S. Equity ETF¹

100.00%

Avantis U.S. Equity Fund

100.00%

Avantis U.S. Large Cap Equity ETF¹

100.00%

Avantis U.S. Large Cap Value ETF¹

100.00%

Avantis U.S. Large Cap Value Fund

100.00%

Avantis U.S. Mid Cap Equity ETF¹

100.00%

Avantis U.S. Mid Cap Value ETF¹

100.00%

Avantis U.S. Small Cap Equity ETF¹

100.00%

Avantis U.S. Small Cap Value ETF¹

100.00%

Avantis U.S. Small Cap Value Fund

100.00%

* Ordinary dividends includes net investment income distributions and short-term capital gain distributions.

¹ This fund is an actively managed Exchange Traded Fund (ETF) that does not seek to replicate the performance of a specified index. To determine whether to buy or sell a security, the portfolio managers consider, among other things, various fund requirements and standards, along with economic conditions, alternative investments, interest rates and various credit metrics. If the portfolio manager considerations are inaccurate or misapplied, the fund's performance may suffer.

² On August 29, 2023, the Avantis Core Municipal Fixed Income Fund liquidated.

IRS Circular 230 Disclosure: American Century Companies, Inc. and its affiliates do not provide tax advice. Accordingly, any discussion of U.S. tax matters contained herein (including any attachments) is not intended or written to be used, and cannot be used, in connection with the promotion, marketing or recommendation by anyone unaffiliated with American Century Companies, Inc. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties.

This information is for educational purposes only and is not intended as tax advice. Please consult your tax advisor for more detailed information or for advice regarding your individual situation.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC – Distributor, not affiliated with American Century Investment Services, Inc.

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833-928-2684

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You should consider the fund's investment objectives, risks, and charges and expenses carefully before you invest. The fund's prospectus or summary prospectus, which can be obtained by visiting Avantisinvestors.com or by calling 833-928-2684, contains this and other information about the fund, and should be read carefully before investing. Investments are subject to market risk.

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Mutual Funds: American Century Investment Services, Inc., Distributor.

Exchange Traded Funds (ETFs): Foreside Fund Services, LLC – Distributor, not affiliated with American Century Investment Services, Inc.

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