Gabelli Asset ETF (NYSE: GAST) has been renamed Gabelli Automation ETF (NYSE: GAST), reflecting its focus on investing in the automation ecosystem. This team-managed fund will not incur any fees or expenses for the first $25 million of the Fund’s assets under management.

GAST’s investment objective is to achieve capital appreciation. The fund will seek to identify and invest in leading firms that design, develop, support, or manufacture automation equipment, related technology, software or processes, and in firms that use these technologies to automate and increase productivity in their own businesses. These businesses include industrial and service automation, robotics, artificial intelligence, autonomous driving, and related equipment and software. In pursuing this investment theme, the Fund may invest in firms in any economic sector and in any geographic region. The fund evaluates the entire ecosystem of components and technology providers that support the reshaping and upgrading of global production networks and that address tight labor markets and productivity challenges worldwide.

Leading the investment team of GAST is Brett Kearney, CFA who joined the firm in 2017. Brett graduated cum laude with a BS in business administration from Washington and Lee University and holds an MBA from Columbia Business School, where he participated in the school’s Value Investing Program. Brett has over a decade of investment management experience having worked as an analyst at Schultze Asset Management, Fidus Mezzanine Capital, and the Bond & Corporate Finance Group of John Hancock Financial Services.

Also on the team is veteran portfolio manager and analyst, Justin Bergner, CFA, who originally joined the firm in 2005 as a metals and mining analyst, and for the last eight plus years has focused his efforts as industrial analyst following a number of broadly diversified firms. Mr. Bergner received an MBA in Finance and Accounting from the Wharton School at the University of Pennsylvania and graduated cum laude from Yale University with a BA in Economics & Mathematics.

Rounding out the team is Hendi Susanto who joined Gabelli Funds in 2007 and specializes in the broad technology sector including software, hardware, cyber security, and semiconductors. Mr. Susanto holds an MBA in finance from the Wharton School, and an MS from MIT after graduating summa cum laude with a BS from the University of Minnesota.

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 $33.3 billion in assets under management. Further information can be found at www.gabelli.com

About Gabelli Automation ETF

Gabelli Automation 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 its assets in U.S. exchange-listed common and preferred stocks of companies that meet the Fund’s guidelines for automation. 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).

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, please visit https://www.gabelli.com/funds/etfs or call:

John Ball, 914-921-7728

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