BNY Mellon Women's Opportunities ETF (BKWO)

ETFs trade like stocks, are subject to investment risk, including possible loss of principal.

Equities are subject to market, market sector, market liquidity, issuer, and investment style risks, among other factors, to varying degrees. Small and midsized company stocks tend to be more volatile and less liquid than larger company stocks as these companies are less established and have more volatile earnings histories. The fund's incorporation of women's opportunities considerations into its investment approach may cause the fund to make different investments than funds that invest principally in equity securities but do not incorporate women's empowerment considerations when selecting investments. Under certain economic conditions, this could cause the fund to underperform funds that do not incorporate women's empowerment considerations. The incorporation of women's opportunities considerations may also affect the fund's exposure to certain sectors and/or types of investments and may adversely impact the fund's performance depending on whether such sectors or investments are in or out of favor in the market.

The fund expects to invest a significant portion of its assets in securities of companies in the healthcare and information technology sectors.

The healthcare sector is subject to government regulation and reimbursement rates, as well as government approval of products and services, which could have a significant effect on price and availability. Furthermore, the types of products or services produced or provided by healthcare companies quickly can become obsolete. In addition, companies in the healthcare sector can be significantly affected by patent expirations, pricing pressure, and product liability claims.

The information technology sector has been among the most volatile sectors of the stock market. Information technology companies involve greater risk because their revenue and/or earnings tend to be less predictable (and some companies may be experiencing significant losses) and their share prices tend to be more volatile. Certain information technology companies may have limited product lines, markets or financial resources, or may depend on a limited management group. In addition, these companies are strongly affected by worldwide technological developments, and their products and services may not be economically successful or may quickly become outdated. Investor perception may play a greater role in determining the day-to-day value of information technology stocks than it does in other sectors. Fund investments may decline dramatically in value if anticipated products or services are delayed or cancelled.

The fund is non-diversified, which means that the fund may invest a relatively high percentage of its assets in a limited number of issuers. Therefore, the fund's performance may be more vulnerable to changes in the market value of a single issuer or group of issuers and more susceptible to risks associated with a single economic, political or regulatory occurrence than a diversified fund.Although fund shares are listed for trading on an exchange and may be listed or traded on other U.S. and non-U.S. stock exchanges as well, there can be no assurance that an active trading market for such fund shares will develop or be maintained. Trading in fund shares may be halted due to market conditions or for reasons that, in the view of the listing exchange, make trading in fund shares inadvisable. In addition, trading in fund shares on an exchange is subject to trading halts caused by extraordinary market volatility pursuant to exchange "circuit breaker" rules. There can be no assurance that the requirements of the listing exchange necessary to maintain the listing of the fund will continue to be met or will remain unchanged or that fund shares will trade with any volume, or at all, on any stock exchange.

Please refer to the prospectus for a more complete discussion of the fund's main risks.