BLACKROCK ETF TRUST
BlackRock U.S. Equity Factor Rotation ETF
(the Fund)
Supplement dated September 20, 2019 to the Summary Prospectus,
Prospectus and Statement of Additional Information of the Fund, each dated March 15, 2019
Effective September 23, 2019, the following changes are made to the Funds Summary Prospectus, Prospectus and Statement of Additional Information, as applicable:
The section of the Funds Summary Prospectus and Prospectus entitled Performance Information is deleted in its entirety and replaced with the following:
Because the Fund had not commenced operations as of the date of the Prospectus, it does not have performance information an investor would find useful in evaluating the risks of investing in the Fund. The Funds benchmark is the MSCI USA Index. Effective September 23, 2019, the Funds benchmark against which it measures its performance, a custom weighted index composed of the MSCI USA Index (80%) and MSCI USA Minimum Volatility (USD) Index (20%), is replaced with the MSCI USA Index. Fund management believes that the MSCI USA Index more accurately reflects the investment strategies of the Fund.
In the section of the Funds Statement of Additional Information entitled General Description of the Trust and the Fund, the second paragraph is deleted in its entirety and replaced with the following:
The Fund seeks to outperform the investment results of the large- and mid-capitalization U.S. equity markets by providing diversified and tactical exposure to style factors via a factor rotation model. The Fund uses the MSCI USA Index as its reference benchmark (the Benchmark). The Fund is not an index fund and does not seek to track the performance of the Benchmark. The Fund is managed by BlackRock Fund Advisors (BFA or the Investment Adviser), an indirect wholly-owned subsidiary of BlackRock, Inc.
Shareholders should retain this Supplement for future reference.
PR2SAI-DYNF-SUP0919