GAMCO Investors, Inc. (“GAMCO”) (NYSE: GBL) will launch Gabelli Financial Services Opportunities ETF (NYSE: GABF), on or around May 10, 2022.

GAMCO will offer a “loyalty” program under which the first $25 million of the Fund’s assets under management will incur no fees and expenses.

GABF’s investment objective is to seek capital appreciation. The Fund will seek to identify and invest in leading firms in the financial services sector that are positioned to benefit from long-term economic trends including greater demand for wealth advisory and asset management services. The Fund will seek out firms that are instrumental in building and providing payments infrastructure and firms that are leveraging technology to lower client acquisition costs, improve operating efficiency, and drive higher customer engagement from digital applications. The Fund will also look to invest in firms with durable brands, recurring revenue, and sizeable addressable markets.

GAMCO Investors, Inc. (NYSE: GBL), through its subsidiaries, manages assets of private advisory accounts (GAMCO) and mutual funds and closed-end funds (Gabelli Funds, LLC), and is known for its Private Market Value with a Catalyst™ style of investment. As of March 31, 2022, GAMCO Investors, Inc. had $33.4 billion in assets under management. Further information can be found at www.gabelli.com

About Gabelli Financial Services Opportunities ETF

Gabelli Financial Services Opportunities ETF is a diversified, open-end management investment company whose primary investment objective is to seek capital appreciation. Under normal market conditions, the Fund will invest at least 80% of the value of its net assets in the securities of companies principally engaged in the group of industries comprising the financial services sector. Your investment in the Fund is not guaranteed and you could lose some or all of the amount you invested. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE: GBL).

This ETF is not yet available to purchase, and this is not a solicitation to purchase a security. Please read the Prospectus, including the Risk Discussion, carefully (when it becomes available) to understand the attributes and risks of this ETF before investing.

This ETF is different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. This ETF will not. This may create additional risks for your investment. For example:

• You may have to pay more money to trade the ETF’s shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
• The price you pay to buy ETF shares on an exchange may not match the value of the ETF’s portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.
• These additional risks may be even greater in bad or uncertain market conditions. The differences between this ETF and other ETFs may also have advantages. By keeping certain information about the ETF secret, this ETF may face less risk that other traders can predict or copy its investment strategy. This may improve the ETF’s performance. If other traders are able to copy or predict the ETF’s investment strategy, however, this may hurt the ETF’s performance. For additional information regarding the unique attributes and risks of the ETF, see the ActiveShares prospectus/registration statement.

You should consider the ETF’s investment objectives, risks, charges and expenses carefully before you invest. The ETF’s Prospectus, which will be available from G.distributors, LLC, a registered broker-dealer and FINRA member firm, will contain this and other information about the ETF, and should be read carefully before investing.

Gabelli Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc. (NYSE: GBL)

To obtain a Prospectus (when it becomes available), please visit https://www.gabelli.com/funds/etfs or call:

John Ball

914-921-7728

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