Goldman Sachs EUR High Yield Bond Active UCITS ETF Class EUR (Dist)

The Sub-Fund seeks to achieve a long-term return by actively investing primarily in below investment grade Euro denominated fixed income securities of corporate issuers. ▪ The Sub-Fund promotes environmental and/or social characteristics and, while it does not have a sustainable investment objective, it will hold a minimum proportion of sustainable investments as further detailed in the pre contractual disclosure for the Sub-Fund contained within the Supplement. As part of its investment process, the Investment Manager will implement a multi-strategy approach to ESG which may consist of the application of exclusionary screens and the integration of ESG factors alongside traditional factors. ▪ The Sub-Fund will mostly invest in below investment grade fixed income securities of companies anywhere in the world denominated in Euros. ▪ The Sub-Fund will not invest more than 30% of its assets in securities and instruments which are not subject to the ESG Criteria, as defined in the Supplement. Additionally, it may hold subordinated corporate bonds, which can include up to 10% of its net assets in contingent capital securities or ‘CoCos’. The Sub-Fund may, under certain circumstances, have limited holdings in shares and similar instruments. It may also invest in fixed income securities issued by government entities. ▪ The Sub-Fund may use derivatives for efficient portfolio management purposes, to help manage risks and for investment purposes in order to seek to increase return. A derivative instrument is a contract between two or more parties whose value depends on the rise and fall of the underlying asset. ▪ The Sub-Fund is actively managed and references the ICE BofA Euro High Yield Constrained Index (the “Benchmark”) as a performance comparator. ▪ The Investment Manager has full discretion over the composition of the assets in the Sub-Fund. While the Sub-Fund will generally hold assets that are components of the Benchmark, it can invest in such components in different proportions, and it can hold assets which are not components of the Benchmark. Therefore, returns may deviate materially from the performance of the specified reference Benchmark and this includes where the return of the Sub-Fund may not exceed the return of the Benchmark or underperform the Benchmark. ▪ In normal circumstances, only authorised participants (e.g. select financial institutions) may deal in shares (or interests in shares) directly with the Sub-Fund. Other investors can deal in shares (or interests in shares) daily through an intermediary on stock exchange(s) on which the shares are traded. ▪ Income (net of expenses) is distributed on a semi-annual basis. ▪ The Sub-Fund currency is EUR. The share class currency is EUR. ▪ Investment in the Sub-Fund should not constitute a substantial proportion of an investment portfolio and may not be appropriate for all investors. Please refer to the “Risk Information” section of the Prospectus for further information. ▪ For full investment objective and policy details see the Supplement.