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John Hancock Multifactor Small Cap ETF
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Summary prospectus 9/1/19 (as revised 3/30/20)
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ETF
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Before you invest, you may want to review the fund's prospectus, which contains more information about the fund and its risks.
You can find the fund's prospectus and other information about the fund, including the Statement of Additional Information
and most recent reports, online at jhinvestments.com/etf. You can also get this information at no cost by calling 800-225-6020
or by sending an email request to info@jhinvestments.com. The fund's prospectus and Statement of Additional Information, both
dated 9/1/19, as may be supplemented, and most recent financial highlights information included in the shareholder report, dated 4/30/19, are incorporated by reference into this summary prospectus.
Effective 1/1/21, as permitted by Securities and Exchange Commission regulations, paper copies of your fund's shareholder
reports will no longer be sent by mail, unless specifically requested. They will be available on a website, and a notice with
a link to the report will be mailed to you each time a report is posted to the site. Any prior requests for electronic delivery
will not be affected. At any time, Fund shareholders may elect to receive paper or electronic copies of shareholder reports
and other communications, free of charge by calling John Hancock Investment Management or by contacting your financial intermediary.
Your election to receive paper reports will apply to all funds held with John Hancock Investment Management or your financial
intermediary.
TICKER
INVESTMENT OBJECTIVE
To seek to provide investment results that closely correspond, before fees and expenses, to the performance of the John Hancock
Dimensional Small Cap Index (the Index).
FEES AND EXPENSES
This table describes the fees and expenses you may pay if you buy and hold shares of the fund.
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Annual fund operating expenses (%) (expenses that you pay each year as a percentage of the value of your investment)
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Management fee1
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0.39
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Other expenses
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0.10
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Total annual fund operating expenses
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0.49
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Contractual expense reimbursement2
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–0.07
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Total annual fund operating expenses after expense reimbursements
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0.42
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1 "Management fee" has been restated to reflect the contractual management fee schedule effective March 30, 2020.
2 The advisor contractually agrees to reduce its management fee or, if necessary, make payment to the fund in an amount equal
to the amount by which expenses of the fund exceed 0.42% of average daily net assets. Expenses means all the expenses of the fund, excluding (a) taxes, (b) brokerage commissions,
(c) interest expense, (d) litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary
course of the fund's business, (e) borrowing costs, (f) prime brokerage fees, (g) acquired fund fees and expenses paid indirectly,
and (h) short dividend expense. This agreement expires on August 31, 2021, unless renewed by mutual agreement of the fund and the advisor based upon a determination that this is appropriate under
the circumstances at that time. The advisor also contractually agrees to waive a portion of its management fee and/or reimburse
expenses for the fund and certain other John Hancock funds according to an asset level breakpoint schedule that is based on
the aggregate net assets of all the funds participating in the waiver or reimbursement. This waiver is allocated proportionally
among the participating funds. During its most recent fiscal year, the fund's reimbursement amounted to 0.01% of the fund's
average daily net assets. This agreement expires on July 31, 2021, unless renewed by mutual agreement of the fund and the
advisor based upon a determination that this is appropriate under the circumstances at that time.
EXPENSE EXAMPLE
This example is intended to help you compare the cost of investing in the fund with the cost of investing in other funds.
Please see below a hypothetical example showing the expenses of a $10,000 investment in the fund for the time periods indicated
assuming you redeem all of your shares at the end of those periods. The example assumes a 5% average annual return and that
fund expenses will not change over the periods. The example does not take into account brokerage commissions that you may
pay on your purchases and sales of shares of the fund. Although your actual costs may be higher or lower, based on these assumptions,
your costs would be:
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Expenses ($)
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1 year
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43
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3 years
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150
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5 years
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267
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10 years
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609
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John Hancock Multifactor Small Cap ETF
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PORTFOLIO TURNOVER
The fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A
higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when fund shares are held
in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the example, affect the
fund's performance. During its most recent fiscal year, the fund's portfolio turnover rate was 33% of the average value of its portfolio.
PRINCIPAL INVESTMENT STRATEGIES
The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities that
compose the fund's Index. The Index is developed and maintained by Dimensional Fund Advisors LP and is designed to comprise
a subset of securities in the U.S. Universe issued by companies whose market capitalizations are smaller than the 750th largest
U.S. company but excluding the smallest 4% of U.S. companies at the time of reconstitution. The selection and weighting of
securities in the Index involves a rules-based process that may sometimes be referred to as multifactor investing, factor-based
investing, strategic beta, or smart beta. Securities within the universe of eligible securities are classified according to
their market capitalization, relative price, and profitability. Securities with relatively high prices and low profitability
are generally excluded from the Index. Securities with smaller market capitalizations are also classified according to their
asset growth, and securities with relatively high asset growth are generally excluded from the Index. Securities that are
selected for inclusion in the Index are subject to a cap of 4% on a single company at the time of reconstitution.
The Index is reconstituted and rebalanced on a semiannual basis. The U.S. Universe is defined as a free float-adjusted market-capitalization-weighted
portfolio of U.S. operating companies listed on the New York Stock Exchange (NYSE), NYSE American, LLC, NASDAQ Global Market,
or such other securities exchanges deemed appropriate in accordance with the rules-based methodology that is maintained by
Dimensional Fund Advisors LP. This means that the market-capitalization of a particular company within the eligible universe
of stocks is adjusted to exclude the share capital of a company that is not considered freely available for trading in the
public equity markets.
The fund, using an indexing investment approach, attempts to approximate the investment performance of the Index by investing
in a portfolio of securities that generally replicates the Index. The fund may concentrate its investments in a particular
industry or group of industries to the extent that the Index concentrates in an industry or group of industries.
PRINCIPAL RISKS
An investment in the fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation
or any other government agency. Many factors affect performance, and the fund's shares will fluctuate in price, meaning you
could lose money.
During periods of heightened market volatility or reduced liquidity, governments, their agencies, or other regulatory bodies,
both within the United States and abroad, may take steps to intervene. These actions, which could include legislative, regulatory,
or economic initiatives, might have unforeseeable consequences and could adversely affect the fund's performance or otherwise
constrain the fund's ability to achieve its investment objective.
The fund's main risks are listed below in alphabetical order. Before investing, be sure to read the additional descriptions of these risks beginning on page 5 of the prospectus.
Active trading market risk. Active trading markets for fund shares may not be developed or maintained by market makers or authorized participants. Market
makers are not obligated to make a market in the fund's shares or to submit purchase or redemption orders for creation units.
Authorized participant concentration risk. To the extent that authorized participants are unable or otherwise unavailable to proceed with creation and/or redemption
orders and no other authorized participant is able to create or redeem in their place, shares may trade at a discount to net
asset value (NAV) and may face delisting.
Cybersecurity and operational risk. Cybersecurity breaches may allow an unauthorized party to gain access to fund assets, customer data, or proprietary information,
or cause a fund or its service providers to suffer data corruption or lose operational functionality. Similar incidents affecting
issuers of a fund's securities may negatively impact performance. Operational risk may arise from human error, error by third
parties, communication errors, or technology failures, among other causes.
Economic and market events risk. Events in the U.S. and global financial markets, including actions taken by the U.S. Federal Reserve or foreign central banks
to stimulate or stabilize economic growth, may at times result in unusually high market volatility, which could negatively
impact performance. Reduced liquidity in credit and fixed-income markets could adversely affect issuers worldwide. Banks and
financial services companies could suffer losses if interest rates rise or economic conditions deteriorate.
Equity securities risk. The price of equity securities may decline due to changes in a company's financial condition or overall market conditions.
ETF trading risk. The market price of shares may include a bid-ask spread (the difference between the prices at which investors are willing
to buy and sell shares), which may vary over time and may increase for various reasons, including decreased trading volume
or reduced market liquidity.
Index risk. Because the fund is not "actively" managed, its performance could be lower than funds that may actively shift their portfolio
assets to take advantage of market opportunities or to lessen the impact of a market decline or a decline in the value of one or more issuers.
Errors in the construction or
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John Hancock Multifactor Small Cap ETF
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calculation of the Index may occur from time to time. Any such errors may not be identified and corrected for some period
of time, which may have an adverse impact on the fund and its shareholders.
Industry or sector investing risk. The performance of a fund that focuses on a single industry or sector of the economy depends in large part on the performance
of that industry or sector. As a result, the value of an investment may fluctuate more widely than it would in a fund that
is diversified across industries or sectors.
Premium/discount risk. The NAV of the fund and the value of your investment may fluctuate. Disruptions to creations and redemptions or the market
price of the fund's holdings, the existence of extreme market volatility or potential lack of an active trading market for
shares may result in shares trading at a significant premium or discount to NAV. If a shareholder purchases shares at a time
when the market price is at a premium to the NAV or sells shares at a time when the market price is at a discount to the NAV,
the shareholder may sustain losses.
Quantitative modeling risk. Quantitative models may not accurately predict future market movements or characteristics, which may negatively impact performance.
Models also may perform differently than expected due to implementation problems, technological malfunction, or programming
or data inaccuracies, among other possible issues.
Small company risk. Small companies are generally less established and may be more volatile than larger companies. Small-capitalization securities
may underperform the market as a whole.
Tracking error risk. The fund's portfolio composition and performance may vary substantially from that of the Index due to factors such as the
fees and expenses of the fund, transaction costs, differences in accrual of dividends, delays in the fund's implementation
of changes to the Index, pricing differences in the treatment of corporate actions, or the need to meet new or existing regulatory
requirements. Tracking error risk may be heightened in volatile markets or under other unusual market conditions.
Trading issues risk. Trading in shares on NYSE Arca, Inc. (NYSE Arca) may be halted in certain circumstances. There can be no assurance that the
requirements of NYSE Arca necessary to maintain the listing of the fund will continue to be met.
PAST PERFORMANCE
The following information illustrates the variability of the fund's returns and provides some indication of the risks of investing
in the fund by showing changes in the fund's performance from year to year and by showing how the fund's average annual returns
compared with the Index and a broad-based market index. Past performance (before and after taxes) does not indicate future
results. All figures assume dividend reinvestment. Performance information is updated daily, monthly, and quarterly and may
be obtained at our website, jhinvestments.com, or by calling 888-972-8696 between 8:30 A.M. and 5:00 P.M., Eastern time, on
most Business Days (as defined herein).
Please note that after-tax returns reflect the highest individual federal marginal income-tax rates in effect as of the date
provided and do not reflect any state or local taxes. Your actual after-tax returns may be different. After-tax returns are
not relevant to shares held in an IRA, 401(k), or other tax-advantaged investment plan.
Calendar year total returns (%)
Year-to-date total return. The fund's total return for the six months ended June 30, 2019, was 16.98%.
Best quarter: Q2 '18, 5.7%
Worst quarter: Q4 '18, –18.58%
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Average annual total returns (%)—as of 12/31/18
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1 year
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Since inception
(11/08/17
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before tax
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–12.12
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–7.5
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after tax on distributions
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–12.4
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–7.76
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after tax on distributions, with sale
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–7.08
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–5.75
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John Hancock Dimensional Small Cap Index (reflects no deduction for fees, expenses, or taxes)
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–11.74
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–7.09
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Russell 2000 Index (reflects no deduction for fees, expenses, or taxes)
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–11.01
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–6.46
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John Hancock Multifactor Small Cap ETF
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INVESTMENT MANAGEMENT
Investment advisor John Hancock Investment Management LLC
Subadvisor Dimensional Fund Advisors LP
PORTFOLIO MANAGEMENT
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Joseph Hohn
Senior Portfolio Manager and Vice President
Managed the fund since 2018
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Joel Schneider
Senior Portfolio Manager and Vice President
Managed the fund since 2017
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Lukas Smart
Senior Portfolio Manager and Vice President
Managed the fund since 2017
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PURCHASE AND SALE OF FUND SHARES
The fund will issue and redeem shares at NAV only with authorized participants and only in a large specified number of shares,
each called a "creation unit," or multiples thereof, in exchange for the deposit or delivery of a basket of securities (including
any portion of such securities for which cash may be substituted). A creation unit of the fund consists of 25,000 shares. Except when aggregated in creation units, the shares are not redeemable securities of the fund.
Individual shares of the fund may be purchased and sold only in secondary market transactions through brokers. Shares of the
fund are listed and traded on the NYSE Arca. Because shares trade at market prices rather than NAV, shares of the fund may
trade at a price greater than or less than NAV.
A "Business Day" with respect to the fund is each day the New York Stock Exchange, NYSE Arca and the Trust are open and includes
any day that the fund is required to be open under Section 22(e) of the Investment Company Act. On any given Business Day,
the fund expects to effect creation and redemption orders (delivered in proper form) as follows:
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For creation orders:
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Received, in proper form, no later than 4:00 p.m. Eastern time: Creation Units will be effected based on the NAV of shares
of the fund as next determined and are generally expected to be delivered within two Business Days ("T+2").
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Received, in proper form, after 4:00 p.m. Eastern time: Will be deemed received on the next Business Day.
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For redemption orders:
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Received, in proper form, no later than 4:00 p.m. Eastern time: Redemption proceeds will be effected based on the NAV of shares
of the fund as next determined and are generally expected to be delivered within two Business Days ("T+2").
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Received, in proper form, after 4:00 p.m. Eastern time: Will be deemed received on the next Business Day.
Additional information about the creation and redemption process, including the process for non-standard orders and orders
outside the clearing process, is set forth in the fund's Statement of Additional Information (SAI).
TAXES
The fund's distributions are taxable, and will be taxed as ordinary income and/or capital gains, unless you are investing
through a tax-deferred arrangement, such as a 401(k) plan or individual retirement account. Withdrawals from such tax-deferred
arrangements may be subject to tax at a later date.
PAYMENTS TO BROKER-DEALERS AND OTHER FINANCIAL INTERMEDIARIES
The advisor and its related companies may pay broker-dealers or other financial intermediaries (such as a bank) for the sale
of the fund shares and related services. These payments may create a conflict of interest by influencing your broker-dealer
or other intermediary or its employees or associated persons to recommend the fund over another investment. Ask your financial
advisor or visit your financial intermediary's website for more information.
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© 2019 John Hancock Exchange-Traded Fund Trust
9500SP 9/1/19 (as revised 3/30/20), SEC file number: 811-22733
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