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John Hancock Exchange-Traded Fund Trust – ‘N-CSR’ for 4/30/23

On:  Thursday, 6/15/23, at 2:30pm ET   ·   Effective:  6/15/23   ·   For:  4/30/23   ·   Accession #:  1683863-23-5076   ·   File #:  811-22733

Previous ‘N-CSR’:  ‘N-CSR’ on 6/17/22 for 4/30/22   ·   Latest ‘N-CSR’:  This Filing   ·   12 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 6/15/23  John Hancock ETF Trust            N-CSR       4/30/23    5:9.5M                                   Donn… Fin’l/ArcFiling/FA
          → John Hancock Corporate Bond ETF ⇒ JHCB
          → John Hancock International High Dividend ETF ⇒ JHID
          → John Hancock Mortgage-Backed Securities ETF ⇒ JHMB
          → John Hancock Multifactor Developed International ETF ⇒ JHMD
          → John Hancock Multifactor Emerging Markets ETF ⇒ JHEM
          → John Hancock Multifactor Large Cap ETF ⇒ JHML
          → John Hancock Multifactor Mid Cap ETF ⇒ JHMM
          → John Hancock Multifactor Small Cap ETF ⇒ JHSC
          → John Hancock Preferred Income ETF ⇒ JHPI
          → John Hancock U.S. High Dividend ETF ⇒ JHDV

Annual Certified Shareholder Report by an Investment Company   —   Form N-CSR   —   ICA’40

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: N-CSR       Annual Certified Shareholder Report by an           HTML   8.35M 
                Investment Company                                               
 2: EX-99.(A)(1)  Miscellaneous Exhibit                             HTML     33K 
 3: EX-99.(A)(2)  Miscellaneous Exhibit                             HTML     15K 
 4: EX-99.(B)   Miscellaneous Exhibit                               HTML      7K 
 5: EX-99.(C)(1)  Miscellaneous Exhibit                             HTML     27K

‘N-CSR’   —   Annual Certified Shareholder Report by an Investment Company

Document Table of Contents

Page (sequential)   (alphabetic) ↑Top
 
11st Page  –  Filing Submission
"Table of Contents
"Multifactor exchange-traded funds (ETFs) at a glance
"Management's discussion of fund performance
"Multifactor Developed International ETF
"Multifactor Emerging Markets ETF
"Multifactor Large Cap ETF
"Multifactor Mid Cap ETF
"Multifactor Small Cap ETF
"Your expenses
"Funds' investments
"Financial statements
"Financial highlights
"Notes to financial statements
"Report of independent registered public accounting firm
"Tax information
"Statement regarding liquidity risk management
"Trustees and Officers
"More information
"Exchange-traded funds (ETFs) at a glance
"Corporate Bond ETF
"Mortgage-Backed Securities ETF
"Preferred Income ETF
"U.S. High Dividend ETF
"Evaluation of advisory and subadvisory agreements by the Board of Trustees

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  N-CSR  

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811- 22733

John Hancock Exchange-Traded Fund Trust (Exact name of registrant as specified in charter)

200 Berkeley Street, Boston, Massachusetts 02116 (Address of principal executive offices) (Zip code)

Salvatore Schiavone

Treasurer

200 Berkeley Street

Boston, Massachusetts 02116

(Name and address of agent for service)

Registrant's telephone number, including area code: 617-543-9634

Date of fiscal year end:

April 30

Date of reporting period:

April 30, 2023

ITEM 1. REPORTS TO STOCKHOLDERS.

The Registrant prepared the following annual reports to shareholders for the period ended April 30, 2023:

John Hancock ETF- Multifactor

•Multifactor Developed International ETF

•Multifactor Emerging Markets ETF

•Multifactor Large Cap ETF

•Multifactor Mid Cap ETF

•Multifactor Small Cap ETF

John Hancock ETF

•Corporate Bond ETF

•International High Dividend ETF

•Mortgage-Backed Securities ETF

•Preferred Income ETF

•U.S. High Dividend ETF


Annual report
John Hancock
ETFs
Multifactor
April 30, 2023
A message to shareholders
Dear shareholder,
Global equities produced strong total returns during the 12 months ended April 30, 2023, but the positive final result belies the fact that the backdrop was quite unfavorable until mid-October. During this time, stocks declined steadily due to the open-ended nature of the interest-rate increases being enacted by the U.S. Federal Reserve and other global central banks. In addition to making bonds a more attractive option, higher rates weighed on the outlook for economic growth and corporate earnings.
The backdrop changed for the better in the latter half of the period amid mounting investor optimism regarding the interest rate outlook and the prospect of a soft landing for the world economy. In addition, corporate profits consistently came in ahead of expectations. These factors helped stocks rally back into positive territory despite headlines regarding a string of high-profile bank failures. The European markets led the way higher over the full year, while Canada, the United States, and the emerging markets were notable laggards.
In these uncertain times, your financial professional can assist with positioning your portfolio so that it’s sufficiently diversified to help meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I’d like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you’ve placed in us.
Sincerely,
Andrew G. Arnott
Global Head of Retail,
Manulife Investment Management
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO’s views as of this report’s period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Multifactor ETFs
Table of contents
2 Multifactor exchange-traded funds (ETFs) at a glance
3 Management’s discussion of fund performance
6 Multifactor Developed International ETF 
7 Multifactor Emerging Markets ETF 
8 Multifactor Large Cap ETF 
9 Multifactor Mid Cap ETF 
10 Multifactor Small Cap ETF 
11 Your expenses
13 Funds’ investments
54 Financial statements
60 Financial highlights
63 Notes to financial statements
73 Report of independent registered public accounting firm
74 Tax information
75 Statement regarding liquidity risk management
76 Trustees and Officers
79 More information
  ANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 1
Table of Contents
Multifactor exchange-traded funds (ETFs) at a glance
Many traditional indexes and index funds are weighted by market capitalization, a bias that can expose investors to certain risks and potentially reduce returns. Strategic beta strategies such as John Hancock Multifactor ETFs offer a different approach. Each ETF seeks to improve on cap-weighted strategies by tracking an index that combines active management insight with the discipline of a rules based approach.
STRATEGIC BETA1: STRIKING A BALANCE BETWEEN ACTIVE AND PASSIVE INVESTING
PHILOSOPHY BACKING INDEX DESIGN
According to Dimensional Fund Advisors, subadvisor for all John Hancock Multifactor ETFs, there are four key factors that drive higher expected returns, and these factors guide Dimensional’s index construction and semiannual reconstitution.
Market
Equity premium—stocks over bonds
Company size
Small-cap premium—small company stocks over large company stocks
Relative price2
Value premium—value stocks over growth stocks
Profitability3
Profitability premium—stocks of highly profitable companies over stocks of less profitable companies
To be considered a true factor, a premium must be sensible, persistent across time periods, pervasive across markets, robust in data, and cost effective.
WHY MULTIFACTOR?
Individual factors can be volatile: there’s no telling which will be the best performing from year to year. Adopting a multifactor approach is one way investors can pursue more consistent—and more attractive—risk-adjusted returns.
1 Strategic beta (also known as smart beta) defines a set of investment strategies that seek to improve on traditional market-capitalization weighted indexes in order to lower risk and achieve better diversification.
2 Relative price as measured by the price-to-book ratio; value stocks are those with lower price-to-book ratios.
3 Profitability is a measure of current profitability, based on information from individual companies’ income statements.
2 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
Table of Contents
Management’s discussion of fund performance
Could you tell us about your investment philosophy and how it drives the composition of the ETFs you manage?
We’ve identified four characteristics, or dimensions, of expected returns that academic research has shown to account for most of the variation in historical asset returns and that we believe will account for most of the variation in future returns. These dimensions are the overall market, company size, relative price, and profitability.
The overall market dimension reflects the excess return over the risk-free rate, which is typically measured by short-term U.S. Treasury bills, that market participants demand for investing in a broadly diversified portfolio of equity securities without any style or market capitalization bias. That premium is called the equity premium.
The company size dimension reflects the excess return that investors demand for investing in small-capitalization stocks relative to large-capitalization stocks. The premium associated with this dimension is the small-cap, or size, premium.
The relative price dimension reflects the excess return that investors expect from investing in low relative price, or value, stocks—as measured, for instance, by their price-to-book ratios—in comparison with high relative price, or growth, stocks. The premium associated with this dimension is the value premium.
Finally, the profitability dimension provides a way to discern differences in expected returns of companies with similar price-driven characteristics. Our research shows that if two companies trade at the same relative price, the one with higher profitability should have a higher expected return over time. The premium associated with this dimension is called the profitability premium.
Relative to a cap-weighted measure of the market, we believe that incorporating the four dimensions of expected returns—market, company size, relative price, and profitability—into a single investment strategy offers the potential for outperformance over time, and an ETF is a vehicle well suited to our systematic and transparent investment approach. The indexes developed for John Hancock Multifactor ETFs are designed to capture these dimensions over time, and the funds are, in turn, designed to track their respective indexes.
Theoretical and empirical research suggests that investors can systematically pursue higher expected returns by targeting the size, relative price, and profitability dimensions in equity markets. We integrate these dimensions to emphasize stocks with smaller market capitalizations, lower relative prices, and higher profitability.
What drives changes to the composition of the funds?
Changes are made to the funds as a result of regularly scheduled reconstitutions, a semiannual process by which the list of stocks and their weights in each index are updated, as well as any unscheduled changes to the index driven by company events. Reconstitution ensures that the indexes that the funds track maintain their intended exposure to the dimensions of expected returns. In addition, we impose a maximum issuer cap in each index at the time of reconstitution to control stock-specific risk.
How did the broad equity market perform during the 12 months ended April 30, 2023?
The U.S. market had positive returns for the period, outperforming emerging markets but underperforming developed markets. Along the market capitalization dimension, U.S. small caps underperformed large caps, while mid caps outperformed small caps and underperformed large caps. Along the relative price dimension, U.S. large-cap value stocks underperformed large-cap growth stocks and U.S. small-cap value underperformed small-cap growth.
Following a historic 2022 rally where the U.S. dollar appreciated against nearly every other major currency, 2023 has seen developed and emerging-market currencies rebound strongly. Those currency movements, ultimately resulting in the dollar weakening year-to-date, have had a positive impact on the U.S. dollar-denominated returns of international markets.
JOHN HANCOCK MULTIFACTOR DEVELOPED INTERNATIONAL ETF (JHMD)
On a NAV basis, the fund underperformed the MSCI EAFE Index, a cap-weighted benchmark used as a proxy for developed ex-U.S. stock markets. The fund’s emphasis on stocks with smaller market capitalizations detracted from relative performance, as these stocks underperformed. Conversely, with low relative price (value) stocks outperforming high relative price (growth) stocks, the fund’s emphasis on value stocks contributed positively to relative performance. Additionally, on a country basis, the fund’s exposure to France detracted from relative performance while exposure to Switzerland contributed.
Compared with the MSCI EAFE Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to industrials, financials, and consumer discretionary. The largest country exposures were to Japan and the United Kingdom. Changes were made to the fund as a result of regularly scheduled
  ANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 3
Table of Contents
reconstitutions during the period. Notable changes in composition included increased weights in Shell PLC and BP PLC and decreased weights in Iberdrola SA and Veolia Environnement SA. We sold the fund’s holdings in Veolia Environment prior to period end.
JOHN HANCOCK MULTIFACTOR EMERGING MARKETS ETF (JHEM)
On a NAV basis, the fund outperformed the MSCI Emerging Markets Index, a cap-weighted benchmark used as a proxy for emerging markets. With low relative price (value) stocks outperforming high relative price (growth) stocks, the fund’s emphasis on value stocks contributed positively to relative performance. The fund’s emphasis on stocks with higher profitability also contributed positively to relative performance, as these stocks outperformed for the period. Additionally, on a country basis, the fund’s underweight to Saudi Arabia contributed to relative performance, as the country underperformed over the period.
Compared with the MSCI Emerging Markets Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to financials, information technology, and consumer discretionary. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in Samsung Electronics Company, Ltd. and Taiwan Semiconductor Manufacturing Company, Ltd. and decreased weights in JD.com, Inc. and Petroleo Brasileiro SA.
JOHN HANCOCK MULTIFACTOR LARGE CAP ETF (JHML)
On a NAV basis, the fund underperformed the Russell 1000 Index, a cap-weighted benchmark used as a proxy for the broad large-cap U.S. stock market. The fund’s greater emphasis on stocks with smaller market capitalizations detracted from relative performance, as mid caps underperformed large caps. Additionally, the fund’s emphasis on low relative price (value) stocks detracted from relative performance. Exposure to the consumer discretionary sector contributed to relative performance, which was partially offset by exposure to the information technology sector.
Compared with the Russell 1000 Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to information technology, financials, and healthcare. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in Microsoft Corp. and NVIDIA Corp. and decreased weights in Tesla, Inc. and Amazon.com, Inc.
JOHN HANCOCK MULTIFACTOR MID CAP ETF (JHMM)
On a NAV basis, the fund outperformed the Russell Midcap Index, a cap-weighted benchmark used as a proxy for the broad mid-cap U.S. stock market. The fund’s emphasis on stocks with higher profitability and smaller market capitalizations contributed positively to relative performance, as these stocks outperformed. Exposure to the information technology sector contributed to relative performance while exposure to the financials sector detracted.
Compared with the Russell Midcap Index, the fund emphasizes stocks with lower relative prices, smaller market capitalizations, and higher profitability. In absolute terms, the fund’s largest sector exposures were to industrials, information technology, and financials. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in eBay, Inc. and D.R. Horton, Inc. and decreased weights in Republic Services, Inc. and Occidental Petroleum Corp. We sold the fund’s holdings in Republic Services and Occidental Petroleum prior to period end.
JOHN HANCOCK MULTIFACTOR SMALL CAP ETF (JHSC)
On a NAV basis, the fund outperformed the Russell 2000 Index, a cap-weighted benchmark used as a proxy for the broad small-cap U.S. stock market. The fund’s lesser exposure to micro caps (typically companies with under $250 million in assets under management) contributed positively to relative performance, as micro caps underperformed small caps for the period. The fund’s lesser exposure to stocks with the lowest profitability and highest relative prices also contributed positively to relative performance, as those stocks underperformed. Additionally, the fund’s overweight and exposure to the industrials sector contributed to relative performance.
Compared with the Russell 2000 Index, the fund emphasizes stocks with higher profitability. In absolute terms, the fund’s largest sector exposures were to industrials, financials, and information technology. Changes were made to the fund as a result of regularly scheduled reconstitutions during the period. Notable changes in composition included increased weights in Tenet Healthcare Corp. and Prometheus Biosciences, Inc. and decreased weights in American Campus Communities, Inc. and Brixmor Property Group, Inc. We sold the fund’s holdings in American Campus Communities and Brixmor Property Group prior to period end.
4 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
Table of Contents
Can you tell us about portfolio manager changes?
Effective September 1, 2022, Joel P. Schneider left the portfolio management team. Effective September 1, 2022, Casey Baum and Rita Chen were added to the portfolio management team.
Notes about risk
Each fund is subject to various risks as described in the fund’s prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors, or the markets, generally, and may ultimately affect fund performance. For more information, please refer to the “Principal risk” section of the prospectus. Current and future portfolio holdings are subject to change and risk. Investing involves risk, including the potential loss of principal. There is no guarantee that a fund’s investment strategy will be successful and there can be no assurance that active trading markets for shares will develop or be maintained by market makers or authorized  participants.
A note about the performance shown on the following pages
Net asset value (NAV) performance is based on the NAV calculated each business day. It is calculated in accordance with the standard formula for valuing investment company shares as of the close of regular trading hours on the NYSE (see Note 2 to financial statements). Market price is calculated as follows: (i) for the time periods starting October 3, 2022, the NYSE Arca’s Official Closing Price or, if it more accurately reflects market price at the time as of which NAV is calculated, the bid/ask midpoint as of that time and (ii) for time periods preceding October 3, 2022, the bid/ask midpoint at 4 P.M., Eastern time, when the NAV is typically calculated. Your returns may differ if you traded shares at other times during the day.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance cited. For the most recent month-end performance, visit jhinvestments.com/etf.
MANAGED BY
Casey Baum
Rita Chen
Joseph F. Hohn
Andres Torres
The views expressed in this report are exclusively those of the portfolio management team at Dimensional Fund Advisors and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk. A price-to-book ratio is calculated by dividing the market price of a stock by its book value per share. A price-to-earnings ratio is calculated by dividing the market price of a stock by its earnings per share. Actual performance data provided for any MSCI IMI indexes in the market performance commentary are net dividends.
  ANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 5
Table of Contents
Multifactor Developed International ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1 		5-year Since fund
inception1
Net asset value 7.79 3.15 6.21 16.79 46.80
Market price 9.52 3.25 6.29 17.33 47.51
John Hancock Dimensional Developed International Index2 8.63 3.86 6.97 20.84 53.63
MSCI EAFE Index3 8.42 3.63 6.52 19.53 49.57
    
    
1 From 12-15-16.
2 The John Hancock Dimensional Developed International Index is a rules-based index of large-cap stocks in developed markets outside of North America that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The MSCI Europe, Australasia, and Far East (EAFE) Index tracks the performance of publicly traded large- and mid-cap stocks of companies in those regions.
SECTOR COMPOSITION (% of net assets)
Industrials 17.6
Financials 16.8
Consumer discretionary 11.1
Consumer staples 9.9
Health care 9.8
Materials 9.1
Energy 6.6
Information technology 6.0
Communication services 5.4
Utilities 4.6
Real estate 1.9
Short-term investments and other 1.2
TOTAL 100.0
 
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Developed International ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Shell PLC 1.9
TotalEnergies SE 1.4
Nestle SA 1.3
Novo Nordisk A/S, B Shares 1.2
ASML Holding NV 1.1
LVMH Moet Hennessy Louis Vuitton SE 1.1
BP PLC 1.0
Novartis AG 1.0
Wolters Kluwer NV 1.0
Roche Holding AG 0.8
TOTAL 11.8
The value of a $10,000 investment calculated at market value from inception through period end would be $14,751.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.42
Net (%) 0.39
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
6 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
Table of Contents
Multifactor Emerging Markets ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1 		Since fund
inception1
Net asset value -5.32 1.49 7.03
Market price -4.76 1.48 6.97
John Hancock Dimensional Emerging Markets Index2 -4.13 2.41 11.54
MSCI Emerging Markets Index3 -6.51 0.86 4.01
    
    
1 From 9-27-18.
2 The John Hancock Dimensional Emerging Markets Index is a rules-based index of large-cap stocks in emerging markets, which may include frontier markets (emerging markets in an earlier stage of development) that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The MSCI Emerging Markets (EM) Index tracks the performance of publicly traded large- and mid-cap emerging-market stocks.
SECTOR COMPOSITION (% of net assets)
Financials 23.9
Information technology 18.1
Consumer discretionary 11.5
Materials 11.1
Communication services 8.3
Consumer staples 7.2
Industrials 6.0
Energy 6.0
Health care 3.3
Utilities 3.2
Real estate 1.3
Short-term investments and other 0.1
TOTAL 100.0
 
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Emerging Markets ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Samsung Electronics Company, Ltd. 4.0
Taiwan Semiconductor Manufacturing Company, Ltd. 3.9
Tencent Holdings, Ltd. 3.1
Alibaba Group Holding, Ltd., ADR 1.6
Reliance Industries, Ltd. 1.4
HDFC Bank, Ltd. 1.2
China Construction Bank Corp., H Shares 1.0
Housing Development Finance Corp., Ltd. 0.9
ICICI Bank, Ltd. 0.9
Vale SA 0.9
TOTAL 18.9
The value of a $10,000 investment calculated at market value from inception through period end would be $10,697.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.56
Net (%) 0.49
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  ANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 7
Table of Contents
Multifactor Large Cap ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1 		5-year Since fund
inception1
Net asset value 1.57 10.34 11.81 63.54 133.32
Market price 1.49 10.33 11.80 63.46 133.22
John Hancock Dimensional Large Cap Index2 1.83 10.66 12.15 65.96 138.79
Russell 1000 Index3 1.82 11.07 12.40 69.01 142.82
    
    
1 From 9-28-15.
2 The John Hancock Dimensional Large Cap Index is a rules-based index of large-cap U.S. stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 1000 Index tracks the performance of 1,000 publicly traded large-cap companies in the United States.
SECTOR COMPOSITION (% of net assets)
Information technology 21.1
Financials 13.9
Health care 13.5
Industrials 11.7
Consumer discretionary 9.8
Consumer staples 7.2
Communication services 6.3
Energy 4.9
Utilities 4.3
Materials 4.2
Real estate 3.0
Short-term investments and other 0.1
TOTAL 100.0
 
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Large Cap ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
Microsoft Corp. 4.4
Apple, Inc. 4.2
Amazon.com, Inc. 1.7
Alphabet, Inc., Class A 1.6
Meta Platforms, Inc., Class A 1.1
Berkshire Hathaway, Inc., Class B 1.0
NVIDIA Corp. 1.0
Exxon Mobil Corp. 1.0
Johnson & Johnson 0.9
JPMorgan Chase & Co. 0.9
TOTAL 17.8
The value of a $10,000 investment calculated at market value from inception through period end would be $23,322.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.32
Net (%) 0.29
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
8 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
Table of Contents
Multifactor Mid Cap ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1 		5-year Since fund
inception1
Net asset value -1.37 8.09 9.98 47.51 105.84
Market price -1.36 8.08 9.99 47.50 105.94
John Hancock Dimensional Mid Cap Index2 -0.99 8.51 10.43 50.41 112.35
Russell Midcap Index3 -1.69 7.97 9.66 46.75 101.36
    
    
1 From 9-28-15.
2 The John Hancock Dimensional Mid Cap Index is a rules-based index of mid-cap U.S. stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell Midcap Index tracks the performance of approximately 800 publicly traded mid-cap companies in the United States.
SECTOR COMPOSITION (% of net assets)
Industrials 18.3
Financials 13.7
Information technology 13.0
Consumer discretionary 12.6
Health care 11.8
Materials 6.6
Utilities 5.9
Real estate 5.2
Energy 4.8
Consumer staples 4.7
Communication services 3.2
Short-term investments and other 0.2
TOTAL 100.0
 
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Mid Cap ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
ON Semiconductor Corp. 0.6
D.R. Horton, Inc. 0.6
Dollar Tree, Inc. 0.5
Arthur J. Gallagher & Company 0.5
Mettler-Toledo International, Inc. 0.5
United Rentals, Inc. 0.5
W.W. Grainger, Inc. 0.4
Ameriprise Financial, Inc. 0.4
ResMed, Inc. 0.4
Builders FirstSource, Inc. 0.4
TOTAL 4.8
The value of a $10,000 investment calculated at market value from inception through period end would be $20,594.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.42
Net (%) 0.41
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  ANNUAL REPORT  | JOHN HANCOCK MULTIFACTOR ETFS 9
Table of Contents
Multifactor Small Cap ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year 5-Year Since fund
inception1 		5-year Since fund
inception1
Net asset value -0.06 5.42 5.46 30.19 33.79
Market price -0.03 5.41 5.46 30.12 33.82
John Hancock Dimensional Small Cap Index2 0.37 5.85 5.90 32.86 36.87
Russell 2000 Index3 -3.65 4.15 4.69 22.55 28.55
    
1 From 11-8-17.
2 The John Hancock Dimensional Small Cap Index is a rules-based index of small-cap U.S. stocks that have been selected based on sources of expected returns. Securities eligible for inclusion in the index are classified according to their market capitalization, as defined by free-float market cap; relative price, as defined by price/book; and profitability, as defined by operating income over book, and are weighted accordingly in favor of smaller, less expensive, more profitable companies. The index is reconstituted and rebalanced on a semiannual basis. Index performance assumes reinvestment of dividends and, unless otherwise indicated, does not reflect the management fees, operating expenses, transaction costs, and other expenses that apply to an ETF.
3 The Russell 2000 Index tracks the performance of approximately 2,000 publicly traded small-cap companies in the United States.
SECTOR COMPOSITION (% of net assets)
Industrials 21.1
Financials 16.1
Information technology 12.7
Consumer discretionary 12.2
Health care 10.0
Materials 6.8
Energy 6.1
Real estate 5.4
Utilities 4.0
Consumer staples 3.5
Communication services 2.0
Short-term investments and other 0.1
TOTAL 100.0
 
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Multifactor Small Cap ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
TOP TEN HOLDINGS4 (% of net assets)
National Instruments Corp. 0.6
TopBuild Corp. 0.5
New York Community Bancorp, Inc. 0.5
Curtiss-Wright Corp. 0.5
Tenet Healthcare Corp. 0.5
Valvoline, Inc. 0.5
Univar Solutions, Inc. 0.5
Brunswick Corp. 0.5
Prometheus Biosciences, Inc. 0.5
Wingstop, Inc. 0.5
TOTAL 5.1
The value of a $10,000 investment calculated at market value from inception through period end would be $13,382.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
4 Listed holdings are a portion of the fund’s total and may change at any time. They are not recommendations to buy or sell any security. Data excludes cash and cash equivalents.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.45
Net (%) 0.42
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
10 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
Table of Contents
Your expenses
These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other funds.
Understanding fund expenses
As a shareholder of a fund, you incur two types of costs:
■Transaction costs, which may include creation and redemption fees and brokerage charges.
■Ongoing operating expenses, including management fees, and other fund expenses.
We are presenting only your ongoing operating expenses here.
Actual expenses/actual returns
The first line of each fund in the following table is intended to provide information about a fund’s actual ongoing operating expenses, and is based on the fund’s actual NAV return. It assumes an account value of $1,000.00 on November 1, 2022, with the same investment held until April 30, 2023.
Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at April 30, 2023, by $1,000.00, then multiply it by the “expenses paid” from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:
Hypothetical example for comparison purposes
The second line of each fund in the following table allows you to compare a fund’s ongoing operating expenses with those of any other fund. It provides an example of the fund’s hypothetical account values and hypothetical expenses based on the fund’s actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund’s actual return). It assumes an account value of $1,000.00 on November 1, 2022, with the same investment held until April 30, 2023. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
Remember, these examples do not include any transaction costs. A fund charges a transaction fee per creation unit to those creating or redeeming creation units, and those buying or selling shares in the secondary market will incur customary brokerage commissions and charges. Therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectus for details regarding transaction costs.
SHAREHOLDER EXPENSE EXAMPLE CHART
  Account
value on
11-1-2022 		Ending
value on
4-30-2023 		Expenses
paid during
4-30-20231 		Annualized
expense
ratio
Multifactor Developed International ETF
Actual expenses/actual returns $1,000.00 $1,240.80 $2.17 0.39%
Hypothetical example for comparison purposes 1,000.00 1,022.90 1.96 0.39%
Multifactor Emerging Markets ETF
Actual expenses/actual returns $1,000.00 $1,158.00 $2.62 0.49%
Hypothetical example for comparison purposes 1,000.00 1,022.40 2.46 0.49%
Multifactor Large Cap ETF
Actual expenses/actual returns $1,000.00 $1,067.70 $1.49 0.29%
Hypothetical example for comparison purposes 1,000.00 1,023.40 1.45 0.29%
Multifactor Mid Cap ETF
Actual expenses/actual returns $1,000.00 $1,031.40 $2.12 0.42%
Hypothetical example for comparison purposes 1,000.00 1,022.70 2.11 0.42%
  ANNUAL | JOHN HANCOCK MULTIFACTOR ETFS 11
Table of Contents
SHAREHOLDER EXPENSE EXAMPLE CHART  (continued)
  Account
value on
11-1-2022 		Ending
value on
4-30-2023 		Expenses
paid during
4-30-20231 		Annualized
expense
ratio
Multifactor Small Cap ETF
Actual expenses/actual returns $1,000.00 $1,021.90 $2.11 0.42%
Hypothetical example for comparison purposes 1,000.00 1,022.70 2.11 0.42%
    
   
1 Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).
12 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL  
Table of Contents
Funds’ investments
MULTIFACTOR DEVELOPED INTERNATIONAL ETF
As of 4-30-23
  Shares or
Principal
Amount 		Value
COMMON STOCKS - 98.1% $477,282,788
(Cost $431,067,568)    
Australia - 7.1% 34,464,489
Ampol, Ltd. 26,274 519,680
ANZ Group Holdings, Ltd. 66,083 1,063,387
APA Group 79,705 541,479
Aristocrat Leisure, Ltd. 16,199 405,831
ASX, Ltd. 4,917 222,486
Atlas Arteria, Ltd. 22,046 95,282
BHP Group, Ltd. 97,605 2,863,900
BlueScope Steel, Ltd. 58,977 774,432
Brambles, Ltd. 88,045 829,130
carsales.com, Ltd. 15,086 236,877
Cochlear, Ltd. 4,106 669,245
Coles Group, Ltd. 29,875 359,321
Commonwealth Bank of Australia 34,338 2,254,703
Computershare, Ltd. 34,724 514,021
CSL, Ltd. 9,596 1,906,133
Dexus 26,157 134,484
EBOS Group, Ltd. 1,843 50,428
Endeavour Group, Ltd. 81,157 364,165
Fortescue Metals Group, Ltd. 74,706 1,033,796
Goodman Group 24,092 307,438
IDP Education, Ltd. 9,153 170,333
IGO, Ltd. 62,027 563,620
Insurance Australia Group, Ltd. 153,337 504,637
Macquarie Group, Ltd. 7,088 855,317
Medibank Private, Ltd. 207,855 489,005
Mineral Resources, Ltd. 10,207 496,993
Mirvac Group 96,355 153,460
National Australia Bank, Ltd. 61,920 1,180,128
Newcrest Mining, Ltd. 14,141 270,260
Northern Star Resources, Ltd. 72,103 641,359
Origin Energy, Ltd. 112,676 621,012
Pilbara Minerals, Ltd. 145,556 407,848
Qantas Airways, Ltd. (A) 32,351 141,102
QBE Insurance Group, Ltd. 97,300 985,730
Ramsay Health Care, Ltd. 12,135 518,615
REA Group, Ltd. 3,128 291,239
Reece, Ltd. 16,309 196,479
Rio Tinto, Ltd. 15,776 1,170,270
Santos, Ltd. 129,853 606,700
Scentre Group 124,121 236,233
SEEK, Ltd. 9,325 150,486
Sonic Healthcare, Ltd. 57,637 1,349,888
South32, Ltd. 102,952 288,472
Stockland 70,689 207,881
Suncorp Group, Ltd. 81,865 675,174
Telstra Corp., Ltd. 106,527 307,641
The GPT Group 52,016 151,593
The Lottery Corp., Ltd. 141,385 470,909
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Australia (continued)  
TPG Telecom, Ltd. 24,809 $88,041
Transurban Group 35,739 354,036
Treasury Wine Estates, Ltd. 48,051 442,340
Vicinity, Ltd. 106,675 148,042
Wesfarmers, Ltd. 21,773 747,780
Westpac Banking Corp. 81,281 1,206,966
WiseTech Global, Ltd. 7,837 355,078
Woodside Energy Group, Ltd. 44,397 988,163
Woolworths Group, Ltd. 31,165 799,719
Yancoal Australia, Ltd. (B) 23,330 85,722
Austria - 0.2% 1,065,363
ANDRITZ AG 2,022 131,370
BAWAG Group AG (A)(C) 753 36,711
Erste Group Bank AG 6,419 233,219
EVN AG 1,309 31,576
OMV AG 5,649 267,172
Raiffeisen Bank International AG (A) 3,797 58,309
Strabag SE, Bearer Shares 378 16,505
Telekom Austria AG (A) 2,770 21,651
Verbund AG 973 86,902
voestalpine AG 5,252 181,948
Belgium - 1.0% 4,661,842
Ackermans & van Haaren NV 2,191 386,051
Ageas SA/NV 23,791 1,060,854
Anheuser-Busch InBev SA/NV 23,578 1,538,380
D’ieteren Group 387 72,846
Elia Group SA/NV (B) 355 48,755
KBC Group NV 11,042 789,692
Solvay SA 3,119 374,812
UCB SA 1,222 113,890
Umicore SA 5,260 172,818
Warehouses De Pauw CVA 3,465 103,744
Chile - 0.1% 277,595
Antofagasta PLC 15,122 277,595
Denmark - 3.1% 14,975,995
AP Moller - Maersk A/S, Series A 83 148,142
AP Moller - Maersk A/S, Series B 98 177,019
Carlsberg A/S, Class B 6,525 1,080,042
Coloplast A/S, B Shares 7,042 1,014,896
Danske Bank A/S (A) 44,197 933,195
DSV A/S 5,016 943,941
Genmab A/S (A) 4,516 1,859,565
Novo Nordisk A/S, B Shares 34,655 5,772,668
Novozymes A/S, B Shares 14,908 775,950
Orsted A/S (C) 5,162 463,802
Tryg A/S 21,120 498,962
Vestas Wind Systems A/S (A) 47,353 1,307,813
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 13
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Finland - 1.3% $6,491,941
Elisa OYJ 9,501 590,746
Fortum OYJ 27,208 406,409
Kesko OYJ, A Shares 8,665 180,035
Kesko OYJ, B Shares 18,102 377,809
Kone OYJ, Class B 10,208 582,640
Metso Outotec OYJ 46,275 510,876
Neste OYJ 11,187 542,679
Nokia OYJ 135,708 575,615
Nordea Bank ABP 72,981 809,739
Orion OYJ, Class A 1,368 64,262
Orion OYJ, Class B 6,726 316,475
Sampo OYJ, A Shares 8,375 424,946
Stora Enso OYJ, R Shares 56,247 714,112
UPM-Kymmene OYJ 12,399 395,598
France - 11.5% 56,005,244
Air Liquide SA 6,154 1,108,648
Airbus SE 13,279 1,863,875
AXA SA 50,151 1,637,194
BNP Paribas SA 25,384 1,641,923
Capgemini SE 9,527 1,734,387
Cie de Saint-Gobain 35,122 2,032,569
Cie Generale des Etablissements Michelin SCA (B) 62,897 2,001,906
Credit Agricole SA 101,140 1,237,624
Danone SA 41,581 2,753,867
Dassault Systemes SE 18,194 736,560
Engie SA (B) 143,194 2,294,779
EssilorLuxottica SA 5,926 1,173,689
Hermes International 655 1,422,233
Kering SA 1,420 908,784
Legrand SA 11,174 1,057,204
L’Oreal SA 4,314 2,061,040
LVMH Moet Hennessy Louis Vuitton SE 5,370 5,163,707
Orange SA 294,400 3,840,408
Pernod Ricard SA 10,424 2,409,796
Safran SA 14,780 2,299,735
Sanofi 21,721 2,397,999
Sartorius Stedim Biotech 1,124 300,917
Schneider Electric SE 9,049 1,576,637
Societe Generale SA 57,146 1,389,539
Thales SA 4,640 708,962
TotalEnergies SE 108,695 6,952,759
Vinci SA (B) 26,629 3,298,503
Germany - 7.2% 35,262,788
adidas AG 3,873 681,732
Allianz SE 9,664 2,426,677
BASF SE 24,311 1,257,423
Bayer AG 43,276 2,855,136
Bayerische Motoren Werke AG 7,361 824,357
Beiersdorf AG 4,223 590,234
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Germany (continued)  
Carl Zeiss Meditec AG, Bearer Shares 1,597 $214,744
Commerzbank AG (A) 35,380 393,134
Continental AG 9,713 680,062
Daimler Truck Holding AG (A) 23,948 791,572
Deutsche Bank AG 141,019 1,547,976
Deutsche Boerse AG 5,078 969,297
Deutsche Post AG 22,845 1,097,613
Deutsche Telekom AG 108,240 2,614,594
E.ON SE 285,507 3,783,973
Fresenius SE & Company KGaA 39,713 1,149,568
Hannover Rueck SE 2,603 556,351
Hapag-Lloyd AG (C) 900 279,400
HeidelbergCement AG 5,063 383,220
Henkel AG & Company KGaA 5,522 408,451
Infineon Technologies AG 19,763 717,933
Mercedes-Benz Group AG 39,695 3,093,047
Merck KGaA 1,476 264,876
MTU Aero Engines AG 799 209,674
Muenchener Rueckversicherungs-Gesellschaft AG 1,643 617,623
RWE AG 23,737 1,115,050
SAP SE 10,916 1,480,618
Siemens AG 12,050 1,980,847
Siemens Energy AG (A) 25,533 625,219
Siemens Healthineers AG (C) 3,141 195,646
Symrise AG 5,894 712,189
Vantage Towers AG 8 287
Volkswagen AG 1,575 264,211
Vonovia SE 22,157 480,054
Hong Kong - 2.2% 10,694,398
AIA Group, Ltd. 317,524 3,436,179
BOC Hong Kong Holdings, Ltd. 91,295 287,263
Budweiser Brewing Company APAC, Ltd. (C) 31,600 90,977
Chow Tai Fook Jewellery Group, Ltd. 138,200 276,404
CK Asset Holdings, Ltd. 95,469 563,092
CK Hutchison Holdings, Ltd. 70,773 473,329
CK Infrastructure Holdings, Ltd. 42,929 243,905
CLP Holdings, Ltd. 46,571 346,469
Galaxy Entertainment Group, Ltd. (A) 22,641 160,075
Hang Seng Bank, Ltd. 18,989 280,847
Henderson Land Development Company, Ltd. 88,398 314,183
Hong Kong & China Gas Company, Ltd. 108,065 95,814
Hong Kong Exchanges & Clearing, Ltd. 28,125 1,160,843
Link REIT 69,652 454,297
MTR Corp., Ltd. 40,913 204,046
Power Assets Holdings, Ltd. 94,573 539,736
Sun Hung Kai Properties, Ltd. 39,662 550,728
Swire Properties, Ltd. 70,601 189,321
Techtronic Industries Company, Ltd. 42,077 452,401
Wharf Real Estate Investment Company, Ltd. 99,993 574,489
14 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Ireland - 1.1% $5,104,597
Bank of Ireland Group PLC 35,925 371,625
CRH PLC 33,634 1,625,636
Experian PLC 44,199 1,561,060
Flutter Entertainment PLC (A) 2,468 493,438
James Hardie Industries PLC, CHESS Depositary Interest 11,242 248,806
Kerry Group PLC, Class A 1,690 178,068
Kingspan Group PLC 9,043 625,964
Israel - 0.4% 1,725,763
Azrieli Group, Ltd. 397 22,926
Bank Hapoalim BM 41,402 352,602
Bank Leumi Le-Israel BM 60,585 474,490
CyberArk Software, Ltd. (A) 320 39,872
Elbit Systems, Ltd. 299 54,933
ICL Group, Ltd. 19,207 117,520
Israel Discount Bank, Ltd., Class A 34,071 167,242
Mizrahi Tefahot Bank, Ltd. 5,265 170,845
Nice, Ltd. (A) 653 133,816
Teva Pharmaceutical Industries, Ltd. (A) 17,937 149,210
Wix.com, Ltd. (A) 485 42,307
Italy - 2.3% 11,223,796
Amplifon SpA 6,808 250,134
Assicurazioni Generali SpA 16,166 336,956
Banca Mediolanum SpA 5,349 48,388
Davide Campari-Milano NV 23,132 298,281
DiaSorin SpA 1,334 145,035
Enel SpA 163,718 1,120,436
Eni SpA 113,658 1,724,827
Ferrari NV 2,944 820,020
FinecoBank Banca Fineco SpA 28,661 434,441
Infrastrutture Wireless Italiane SpA (C) 12,454 173,171
Intesa Sanpaolo SpA 361,746 952,292
Mediobanca Banca di Credito Finanziario SpA 58,928 633,000
Moncler SpA 12,483 925,548
Nexi SpA (A)(C) 6,274 51,990
Poste Italiane SpA (B)(C) 27,311 284,207
PRADA SpA 31,900 234,072
Prysmian SpA 9,933 406,511
Recordati Industria Chimica e Farmaceutica SpA 6,879 316,915
Snam SpA 60,836 338,501
Telecom Italia SpA (A)(B) 318,770 93,928
Terna - Rete Elettrica Nazionale 60,636 526,165
UniCredit SpA (B) 50,073 991,734
UnipolSai Assicurazioni SpA (B) 43,560 117,244
Japan - 22.6% 110,104,749
Advantest Corp. 5,400 417,993
Aeon Company, Ltd. 17,500 355,681
AGC, Inc. 26,900 997,650
Aisin Corp. 15,500 452,484
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Ajinomoto Company, Inc. 12,100 $434,095
ANA Holdings, Inc. (A) 8,800 191,136
Asahi Group Holdings, Ltd. 8,900 342,692
Asahi Intecc Company, Ltd. 8,900 159,744
Asahi Kasei Corp. 72,900 512,733
Astellas Pharma, Inc. 19,100 287,275
Bandai Namco Holdings, Inc. 13,503 305,234
BayCurrent Consulting, Inc. 7,500 259,153
Bridgestone Corp. 26,600 1,062,320
Canon, Inc. 20,700 492,245
Capcom Company, Ltd. 10,500 394,044
Central Japan Railway Company 4,444 549,768
Chubu Electric Power Company, Inc. 45,000 502,001
Chugai Pharmaceutical Company, Ltd. 12,200 313,949
Concordia Financial Group, Ltd. 74,300 279,924
CyberAgent, Inc. 26,100 226,373
Dai Nippon Printing Company, Ltd. 18,824 539,152
Daifuku Company, Ltd. 19,500 356,589
Dai-ichi Life Holdings, Inc. 26,900 496,751
Daiichi Sankyo Company, Ltd. 19,400 662,078
Daikin Industries, Ltd. 5,447 984,872
Daito Trust Construction Company, Ltd. 3,886 367,296
Daiwa House Industry Company, Ltd. 28,100 713,412
Daiwa House REIT Investment Corp. 51 108,431
Daiwa Securities Group, Inc. 90,800 419,441
Denso Corp. 9,600 574,668
Dentsu Group, Inc. (B) 17,700 633,698
Disco Corp. 5,694 644,399
East Japan Railway Company 8,600 492,890
Eisai Company, Ltd. 2,572 147,956
ENEOS Holdings, Inc. 316,200 1,119,292
FANUC Corp. 9,350 315,111
Fast Retailing Company, Ltd. 3,957 930,221
Fuji Electric Company, Ltd. 11,493 460,007
FUJIFILM Holdings Corp. 9,700 502,934
Fujitsu, Ltd. 3,300 437,690
GLP J-REIT 101 115,342
GMO Payment Gateway, Inc. 2,800 217,765
Hakuhodo DY Holdings, Inc. 11,600 135,879
Hamamatsu Photonics KK 8,400 442,933
Hankyu Hanshin Holdings, Inc. 19,600 609,599
Hikari Tsushin, Inc. 541 73,423
Hirose Electric Company, Ltd. 1,005 134,920
Hitachi Construction Machinery Company, Ltd. 7,800 190,754
Hitachi, Ltd. 40,600 2,231,785
Honda Motor Company, Ltd. 43,654 1,150,300
Hoshizaki Corp. 4,200 147,439
Hoya Corp. 10,000 1,043,587
Hulic Company, Ltd. 57,100 489,375
Ibiden Company, Ltd. 5,200 203,165
Idemitsu Kosan Company, Ltd. 29,159 617,165
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 15
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Iida Group Holdings Company, Ltd. 9,000 $159,292
Inpex Corp. 47,000 508,435
Isuzu Motors, Ltd. 81,800 955,780
ITOCHU Corp. 67,100 2,213,588
Itochu Techno-Solutions Corp. 5,500 141,978
Japan Airlines Company, Ltd. 14,200 269,682
Japan Exchange Group, Inc. 28,000 452,290
Japan Metropolitan Fund Investment Corp. 155 113,263
Japan Post Bank Company, Ltd. (B) 8,000 63,746
Japan Post Holdings Company, Ltd. 39,700 325,962
Japan Post Insurance Company, Ltd. 11,900 192,179
Japan Real Estate Investment Corp. 37 146,462
Japan Tobacco, Inc. 49,800 1,069,220
JFE Holdings, Inc. 66,800 785,911
JSR Corp. 7,900 182,176
Kajima Corp. 35,400 466,662
Kao Corp. 12,700 513,447
Kawasaki Kisen Kaisha, Ltd. (B) 9,000 213,161
KDDI Corp. 38,300 1,194,862
Keio Corp. 4,370 161,751
Keisei Electric Railway Company, Ltd. 7,300 257,067
Keyence Corp. 2,770 1,242,955
Kikkoman Corp. 1,500 88,459
Kintetsu Group Holdings Company, Ltd. 7,000 235,964
Kirin Holdings Company, Ltd. 8,000 129,784
Kobayashi Pharmaceutical Company, Ltd. 1,100 68,505
Kobe Bussan Company, Ltd. 8,800 245,908
Koei Tecmo Holdings Company, Ltd. (B) 5,900 108,238
Koito Manufacturing Company, Ltd. 11,800 226,615
Komatsu, Ltd. 40,200 987,249
Konami Group Corp. 5,800 284,963
Kose Corp. 1,000 116,109
Kubota Corp. 22,600 339,917
Kyocera Corp. 8,100 423,010
Kyowa Kirin Company, Ltd. 5,300 117,549
Lasertec Corp. 2,000 270,260
Lixil Corp. 27,400 429,015
M3, Inc. 10,200 248,698
Makita Corp. 2,500 70,136
Marubeni Corp. 45,000 634,524
MatsukiyoCocokara & Company 2,800 149,495
Mazda Motor Corp. 49,200 438,650
MEIJI Holdings Company, Ltd. 25,200 607,954
MINEBEA MITSUMI, Inc. 34,200 627,915
MISUMI Group, Inc. 17,200 430,742
Mitsubishi Chemical Group Corp. 163,100 951,661
Mitsubishi Corp. 31,300 1,153,479
Mitsubishi Electric Corp. 36,600 451,301
Mitsubishi Estate Company, Ltd. 21,900 268,915
Mitsubishi HC Capital, Inc. 104,600 540,803
Mitsubishi Heavy Industries, Ltd. 15,300 576,089
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Mitsubishi Motors Corp. (A) 57,700 $218,232
Mitsubishi UFJ Financial Group, Inc. 281,670 1,764,303
Mitsui & Company, Ltd. 34,800 1,080,815
Mitsui Chemicals, Inc. 21,700 544,233
Mitsui Fudosan Company, Ltd. 17,600 347,825
Mitsui O.S.K. Lines, Ltd. (B) 22,400 552,741
Mizuho Financial Group, Inc. 49,900 720,108
MonotaRO Company, Ltd. 13,200 198,536
MS&AD Insurance Group Holdings, Inc. 11,400 372,144
Murata Manufacturing Company, Ltd. 11,500 665,516
NEC Corp. 16,103 616,139
Nexon Company, Ltd. 3,800 85,675
NGK Insulators, Ltd. 15,700 196,012
Nidec Corp. 8,900 438,186
Nintendo Company, Ltd. 20,970 881,059
Nippon Building Fund, Inc. 38 159,072
Nippon Express Holdings, Inc. 9,800 572,893
Nippon Paint Holdings Company, Ltd. 10,500 94,308
Nippon Sanso Holdings Corp. 15,100 270,583
Nippon Steel Corp. 38,300 813,733
Nippon Telegraph & Telephone Corp. 33,966 1,034,957
Nippon Yusen KK (B) 14,500 341,083
Nissan Chemical Corp. 8,300 366,952
Nissan Motor Company, Ltd. 61,500 222,306
Nissin Foods Holdings Company, Ltd. 2,316 223,155
Nitori Holdings Company, Ltd. 2,201 280,692
Nitto Denko Corp. 17,194 1,106,154
Nomura Holdings, Inc. 86,900 310,100
Nomura Real Estate Master Fund, Inc. 119 139,044
Nomura Research Institute, Ltd. 9,700 243,631
NTT Data Corp. 15,900 214,740
Obayashi Corp. 52,600 437,287
Obic Company, Ltd. 1,100 168,920
Odakyu Electric Railway Company, Ltd. 13,600 189,570
Oji Holdings Corp. 75,600 295,926
Olympus Corp. 29,800 518,132
Omron Corp. 3,700 215,807
Ono Pharmaceutical Company, Ltd. 6,965 140,359
Oracle Corp. Japan 1,700 121,727
Oriental Land Company, Ltd. 10,000 352,440
ORIX Corp. 32,100 542,210
Osaka Gas Company, Ltd. 34,900 577,715
Otsuka Corp. 7,400 268,197
Otsuka Holdings Company, Ltd. 8,200 277,077
Pan Pacific International Holdings Corp. 21,800 405,693
Panasonic Holdings Corp. 85,804 802,493
Rakuten Group, Inc. 9,300 46,102
Recruit Holdings Company, Ltd. 24,000 674,006
Renesas Electronics Corp. (A) 22,900 298,012
Resona Holdings, Inc. 68,600 339,914
Ricoh Company, Ltd. 37,400 307,901
16 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Rohm Company, Ltd. 5,700 $426,145
SBI Holdings, Inc. 21,900 425,728
SCSK Corp. 8,100 121,829
Secom Company, Ltd. 2,261 144,429
Seiko Epson Corp. 42,600 647,924
Sekisui Chemical Company, Ltd. 52,400 742,717
Sekisui House, Ltd. 17,200 352,425
Seven & i Holdings Company, Ltd. 19,600 884,530
SG Holdings Company, Ltd. 18,500 265,479
Sharp Corp. 11,600 82,294
Shimadzu Corp. 18,900 587,133
Shimano, Inc. 1,286 198,522
Shimizu Corp. 46,400 282,493
Shin-Etsu Chemical Company, Ltd. 32,490 921,741
Shionogi & Company, Ltd. 3,071 136,968
Shiseido Company, Ltd. 6,177 308,521
SMC Corp. 645 320,925
SoftBank Corp. 51,900 583,739
SoftBank Group Corp. 27,436 1,026,394
Sompo Holdings, Inc. 9,100 377,794
Sony Group Corp. 23,800 2,242,529
Square Enix Holdings Company, Ltd. 4,000 196,233
Subaru Corp. 54,200 873,712
SUMCO Corp. 16,900 231,473
Sumitomo Chemical Company, Ltd. 144,500 486,035
Sumitomo Corp. 28,400 506,201
Sumitomo Electric Industries, Ltd. 48,300 611,532
Sumitomo Metal Mining Company, Ltd. 25,200 927,014
Sumitomo Mitsui Financial Group, Inc. 31,200 1,271,463
Sumitomo Mitsui Trust Holdings, Inc. 8,875 318,657
Sumitomo Realty & Development Company, Ltd. 13,900 322,579
Suntory Beverage & Food, Ltd. 7,800 292,718
Suzuki Motor Corp. 15,600 538,350
Sysmex Corp. 7,248 463,416
T&D Holdings, Inc. 38,700 470,090
Taisei Corp. 15,561 527,404
Taiyo Yuden Company, Ltd. 5,100 155,062
Takeda Pharmaceutical Company, Ltd. 43,147 1,429,731
TDK Corp. 17,700 603,801
Terumo Corp. 7,900 235,320
The Chiba Bank, Ltd. 61,400 398,165
The Kansai Electric Power Company, Inc. 76,800 829,112
TIS, Inc. 12,800 349,693
Tobu Railway Company, Ltd. 8,100 206,121
Toho Company, Ltd. 4,200 166,254
Tokio Marine Holdings, Inc. 38,200 763,074
Tokyo Century Corp. 5,300 180,994
Tokyo Electric Power Company Holdings, Inc. (A) 65,300 233,548
Tokyo Electron, Ltd. 9,171 1,043,621
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Japan (continued)  
Tokyo Gas Company, Ltd. 55,200 $1,131,445
Tokyu Corp. 33,800 476,102
Toppan, Inc. 21,300 450,825
Toray Industries, Inc. 137,100 772,972
Toshiba Corp. 4,800 155,106
Tosoh Corp. 21,000 279,301
TOTO, Ltd. 7,100 242,202
Toyo Suisan Kaisha, Ltd. 1,500 66,867
Toyota Industries Corp. 4,000 230,603
Toyota Motor Corp. 236,640 3,227,265
Toyota Tsusho Corp. 10,300 424,360
Trend Micro, Inc. 9,100 442,419
Unicharm Corp. 10,300 414,224
USS Company, Ltd. 15,400 257,637
Welcia Holdings Company, Ltd. 4,700 98,235
West Japan Railway Company 13,981 604,870
Yakult Honsha Company, Ltd. 3,500 262,953
Yamaha Corp. 4,766 186,559
Yamaha Motor Company, Ltd. 43,100 1,107,847
Yamato Holdings Company, Ltd. 28,300 485,089
Yaskawa Electric Corp. 14,900 602,938
Z Holdings Corp. 43,700 118,938
ZOZO, Inc. 9,600 201,356
Luxembourg - 0.3% 1,380,782
ArcelorMittal SA 43,341 1,230,184
Tenaris SA 10,453 150,598
Macau - 0.0% 100,758
Sands China, Ltd. (A) 28,400 100,758
Malaysia - 0.0% 205,312
Lynas Rare Earths, Ltd. (A) 48,317 205,312
Mexico - 0.0% 86,796
Fresnillo PLC 9,707 86,796
Netherlands - 4.4% 21,290,104
ABN AMRO Bank NV (C) 31,967 512,257
Adyen NV (A)(C) 288 461,666
Argenx SE (A) 489 188,248
Argenx SE, Additional Offering (A) 3 1,155
ASM International NV 2,806 1,016,241
ASML Holding NV (B) 8,467 5,360,831
Heineken Holding NV 8,982 862,207
Heineken NV (B) 5,155 592,161
ING Groep NV (B) 90,250 1,115,923
JDE Peet’s NV 4,886 148,878
Koninklijke Ahold Delhaize NV 79,701 2,747,045
Prosus NV (A) 13,799 1,033,938
Stellantis NV (B) 121,995 2,020,237
Universal Music Group NV 28,847 630,891
Wolters Kluwer NV 34,667 4,598,426
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 17
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
New Zealand - 0.2% $795,577
Auckland International Airport, Ltd. (A) 20,691 112,973
Contact Energy, Ltd. 10,302 49,823
Fisher & Paykel Healthcare Corp., Ltd. 9,750 166,691
Infratil, Ltd. 9,234 54,467
Mainfreight, Ltd. 1,182 52,345
Mercury NZ, Ltd. 5,448 21,334
Meridian Energy, Ltd. 28,304 95,452
Spark New Zealand, Ltd. 46,826 151,262
Xero, Ltd. (A) 1,479 91,230
Norway - 0.5% 2,597,926
Adevinta ASA (A) 2,043 15,670
Aker ASA, A Shares 631 38,364
Aker BP ASA (B) 11,000 261,853
DNB Bank ASA (B) 23,455 410,695
Equinor ASA 26,239 748,557
Gjensidige Forsikring ASA 2,122 36,779
Kongsberg Gruppen ASA 879 39,284
Mowi ASA 5,150 97,835
Norsk Hydro ASA 30,729 224,825
Orkla ASA 12,367 88,608
Salmar ASA 640 28,285
Schibsted ASA, A Shares 888 15,682
Schibsted ASA, B Shares 1,445 23,328
Telenor ASA 15,789 196,345
TOMRA Systems ASA (B) 5,756 87,758
Var Energi ASA 3,970 10,360
Yara International ASA 6,824 273,698
Portugal - 0.3% 1,347,787
EDP - Energias de Portugal SA (B) 66,693 368,145
Galp Energia SGPS SA (B) 64,583 783,583
Jeronimo Martins SGPS SA 7,755 196,059
Singapore - 1.6% 7,799,643
CapitaLand Ascendas REIT 62,692 134,392
CapitaLand Ascott Trust 2,537 2,054
CapitaLand Integrated Commercial Trust 129,559 197,133
CapitaLand Investment, Ltd. 44,500 124,079
City Developments, Ltd. 47,100 245,358
DBS Group Holdings, Ltd. 43,112 1,060,552
Genting Singapore, Ltd. 254,700 215,726
Grab Holdings, Ltd., Class A (A) 88,576 257,756
Great Eastern Holdings, Ltd. 5,700 72,759
Jardine Cycle & Carriage, Ltd. 13,000 330,128
Keppel Corp., Ltd. 109,100 504,551
Mapletree Logistics Trust 65,600 85,556
Mapletree Pan Asia Commercial Trust 63,200 83,373
Oversea-Chinese Banking Corp., Ltd. 111,468 1,051,057
Sea, Ltd., ADR (A) 3,534 269,185
Singapore Airlines, Ltd. 57,600 252,565
Singapore Exchange, Ltd. 68,500 491,358
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Singapore (continued)  
Singapore Technologies Engineering, Ltd. 95,900 $260,209
Singapore Telecommunications, Ltd. 231,500 442,473
United Overseas Bank, Ltd. 69,324 1,466,344
Wilmar International, Ltd. 85,900 253,035
Spain - 2.7% 13,078,760
Aena SME SA (A)(B)(C) 4,317 728,717
Amadeus IT Group SA (A) 12,839 903,467
Banco Bilbao Vizcaya Argentaria SA 261,349 1,918,720
Banco Santander SA (B) 412,405 1,450,798
CaixaBank SA 96,259 356,217
Cellnex Telecom SA (A)(C) 6,260 263,794
Corp. ACCIONA Energias Renovables SA (A)(B) 6,015 216,217
EDP Renovaveis SA (A) 1,932 43,000
Endesa SA 19,963 448,938
Ferrovial SA 27,197 853,625
Iberdrola SA 91,702 1,192,596
Industria de Diseno Textil SA (B) 30,735 1,057,304
Naturgy Energy Group SA 3,975 124,192
Repsol SA 169,694 2,500,082
Telefonica SA 224,219 1,021,093
Sweden - 2.8% 13,837,660
Alfa Laval AB (B) 3,280 120,075
Assa Abloy AB, B Shares (B) 11,030 262,275
Atlas Copco AB, A Shares 68,502 989,071
Atlas Copco AB, B Shares (B) 38,764 496,206
Axfood AB 4,578 113,454
Beijer Ref AB (B) 12,425 202,778
Boliden AB (B) 19,227 686,434
Castellum AB (B) 15,028 182,113
Epiroc AB, A Shares 16,322 326,209
Epiroc AB, B Shares 9,748 167,357
EQT AB 2,724 58,372
Essity AB, B Shares 12,162 368,396
Evolution AB (C) 2,840 378,048
Fastighets AB Balder, B Shares (A) 15,574 72,258
Getinge AB, B Shares 8,896 225,408
Hennes & Mauritz AB, B Shares (B) 20,147 294,390
Hexagon AB, B Shares (B) 21,624 246,339
Holmen AB, B Shares 5,802 219,076
Husqvarna AB, B Shares 39,462 339,710
Indutrade AB 17,265 413,562
Lifco AB, B Shares 11,173 254,346
Nibe Industrier AB, B Shares 15,868 177,132
Saab AB, B Shares 1,155 64,814
Sagax AB, B Shares (B) 5,482 134,147
Sandvik AB (B) 29,036 590,217
Skandinaviska Enskilda Banken AB, A Shares 33,640 382,077
Skandinaviska Enskilda Banken AB, C Shares 311 3,966
Skanska AB, B Shares 33,117 540,475
SKF AB, B Shares 32,612 589,145
18 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
Sweden (continued)  
SSAB AB, A Shares 17,874 $126,615
SSAB AB, B Shares (B) 46,108 310,706
Svenska Cellulosa AB SCA, B Shares 16,101 220,467
Svenska Handelsbanken AB, A Shares 39,085 345,305
Svenska Handelsbanken AB, B Shares (B) 1,551 17,026
Sweco AB, B Shares 7,754 103,717
Swedbank AB, A Shares 25,670 445,466
Swedish Orphan Biovitrum AB (A) 7,310 177,739
Tele2 AB, B Shares 48,914 519,553
Telefonaktiebolaget LM Ericsson, B Shares 48,065 264,147
Telia Company AB 64,548 179,726
Trelleborg AB, B Shares (B) 16,278 408,487
Volvo AB, A Shares 13,166 278,537
Volvo AB, B Shares 72,067 1,481,072
Volvo Car AB, B Shares (A)(B) 14,901 61,247
Switzerland - 9.9% 48,341,634
ABB, Ltd. 44,828 1,617,747
Alcon, Inc. 30,487 2,220,288
Chocoladefabriken Lindt & Spruengli AG 7 863,547
Cie Financiere Richemont SA, A Shares 11,700 1,931,706
Coca-Cola HBC AG (A) 18,949 577,324
DSM-Firmenich AG (A) 4,705 616,878
Givaudan SA 444 1,557,405
Glencore PLC 485,331 2,860,960
Holcim, Ltd. (A) 34,829 2,301,715
Kuehne + Nagel International AG 3,172 940,499
Lonza Group AG 1,424 886,030
Nestle SA 50,535 6,502,183
Novartis AG 46,151 4,725,286
Partners Group Holding AG 1,502 1,456,689
Roche Holding AG 13,160 4,145,167
Roche Holding AG, Bearer Shares (B) 877 297,966
Schindler Holding AG 1,102 235,121
Schindler Holding AG, Participation Certificates 2,439 544,497
Sika AG 9,701 2,674,710
STMicroelectronics NV 53,151 2,262,944
Straumann Holding AG 5,595 840,146
Swiss Re AG 23,173 2,335,915
Swisscom AG 3,628 2,498,696
UBS Group AG 80,878 1,641,549
Zurich Insurance Group AG 3,724 1,806,666
United Arab Emirates - 0.0% 13
NMC Health PLC (A) 5,181 13
United Kingdom - 15.3% 74,329,538
3i Group PLC 88,703 1,970,043
Admiral Group PLC 21,594 627,240
Anglo American PLC 48,699 1,496,579
Ashtead Group PLC 24,126 1,387,929
Associated British Foods PLC 21,615 531,404
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
United Kingdom (continued)  
AstraZeneca PLC 15,227 $2,248,046
Auto Trader Group PLC (C) 61,870 494,271
Aviva PLC 178,259 947,748
BAE Systems PLC 35,365 450,726
Barclays PLC 452,376 909,064
BP PLC 727,358 4,885,573
British American Tobacco PLC 43,643 1,605,603
BT Group PLC 866,622 1,730,286
Bunzl PLC 15,384 611,796
Burberry Group PLC 34,537 1,124,742
CNH Industrial NV 25,426 357,756
Coca-Cola Europacific Partners PLC 13,874 886,848
Compass Group PLC 20,768 547,386
Croda International PLC 6,070 532,531
Diageo PLC 51,551 2,346,856
Dowlais Group PLC (A) 87,156 145,259
Entain PLC 26,805 486,501
Ferguson PLC 12,692 1,785,891
GSK PLC 78,399 1,419,958
Haleon PLC 171,570 756,919
Halma PLC 17,215 499,394
HSBC Holdings PLC 457,408 3,298,870
Imperial Brands PLC 62,468 1,544,803
Informa PLC 94,759 860,636
InterContinental Hotels Group PLC 6,122 420,133
Intertek Group PLC 11,140 581,918
JD Sports Fashion PLC 161,204 326,315
Legal & General Group PLC 371,418 1,092,862
Lloyds Banking Group PLC 1,730,923 1,048,638
London Stock Exchange Group PLC 6,468 678,499
Melrose Industries PLC 87,156 448,045
Mondi PLC 46,831 744,603
National Grid PLC 94,513 1,359,591
NatWest Group PLC 156,656 515,881
Next PLC 11,829 1,002,095
Pearson PLC 41,490 462,560
Phoenix Group Holdings PLC 47,929 356,512
Prudential PLC 27,620 420,579
Reckitt Benckiser Group PLC 8,328 673,058
RELX PLC 49,951 1,661,250
Rentokil Initial PLC 147,283 1,170,699
Rio Tinto PLC 27,440 1,741,367
Rolls-Royce Holdings PLC (A) 294,267 562,749
Schroders PLC 64,356 392,878
Segro PLC 31,237 327,757
Severn Trent PLC 16,325 601,614
Shell PLC 292,581 9,017,108
Smith & Nephew PLC 20,957 346,251
Smiths Group PLC 16,210 342,493
Spirax-Sarco Engineering PLC 3,339 465,424
SSE PLC 50,477 1,165,794
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 19
Table of Contents
MULTIFACTOR DEVELOPED INTERNATIONAL ETF (continued)
  Shares or
Principal
Amount 		Value
United Kingdom (continued)  
St. James’s Place PLC 24,918 $377,869
Standard Chartered PLC 194,631 1,537,266
Tesco PLC 469,219 1,657,820
The Sage Group PLC 46,554 478,993
Unilever PLC 56,971 3,176,839
United Utilities Group PLC 39,306 534,548
Vodafone Group PLC 800,868 965,340
Whitbread PLC 14,952 610,214
WPP PLC 49,195 573,318
United States - 0.0% 31,938
Carnival PLC (A) 3,883 31,938
PREFERRED SECURITIES - 0.7% $3,302,683
(Cost $3,622,782)    
Germany - 0.7% 3,302,683
Bayerische Motoren Werke AG 2,775 294,872
Dr. Ing. h.c. F. Porsche AG (A) 793 99,279
Henkel AG & Company KGaA 10,537 852,455
Porsche Automobil Holding SE 10,115 563,708
Sartorius AG 1,319 511,992
Volkswagen AG 7,180 980,377
RIGHTS - 0.0% $0
(Cost $0)    
Strabag SE (Expiration Date: 1-1-27) (A)(D)(E) 432 0
SHORT-TERM INVESTMENTS - 3.7% $18,093,844
(Cost $18,094,036)    
Short-term funds - 3.7% 18,093,844
John Hancock Collateral Trust, 4.9058% (F)(G) 1,729,784 17,292,826
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.7429% (F) 801,018 801,018
Total investments (Multifactor Developed International ETF) (Cost $452,784,386) - 102.5% $498,679,315
Other assets and liabilities, net - (2.5%) (12,002,546)
Total net assets - 100.0% $486,676,769
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
(A) Non-income producing security.
(B) All or a portion of this security is on loan as of 4-30-23.
(C) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(D) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(E) Strike price and/or expiration date not available.
(F) The rate shown is the annualized seven-day yield as of 4-30-23.
(G) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
MULTIFACTOR EMERGING MARKETS ETF
As of 4-30-23
  Shares or
Principal
Amount 		Value
COMMON STOCKS - 98.3% $691,077,417
(Cost $673,172,115)    
Brazil - 3.9% 27,306,048
Ambev SA 352,600 997,994
Atacadao SA 40,600 87,240
B3 SA - Brasil Bolsa Balcao 450,300 1,051,302
Banco Bradesco SA 197,405 490,075
Banco BTG Pactual SA 85,048 398,138
Banco do Brasil SA 125,700 1,076,887
BB Seguridade Participacoes SA 125,100 857,947
Caixa Seguridade Participacoes S/A 46,600 88,117
CCR SA 215,300 583,991
Centrais Eletricas Brasileiras SA 77,837 526,656
Cia de Saneamento Basico do Estado de Sao Paulo 70,600 650,985
Cia Energetica de Minas Gerais 39,889 161,060
Cia Siderurgica Nacional SA 88,700 251,942
Cosan SA 87,400 261,701
CPFL Energia SA 38,500 255,033
Eneva SA (A) 39,900 90,521
Engie Brasil Energia SA 50,325 414,744
Equatorial Energia SA 108,259 591,623
Hapvida Participacoes e Investimentos SA (A)(B) 450,807 248,704
Hypera SA 47,200 351,440
JBS SA 225,800 807,904
Klabin SA 111,300 425,591
Localiza Rent a Car SA 90,463 1,048,954
Lojas Renner SA 121,284 384,009
Magazine Luiza SA (A) 238,728 159,379
Natura & Company Holding SA (A) 112,400 248,487
Petro Rio SA (A) 64,200 445,936
Petroleo Brasileiro SA 649,300 3,461,393
Raia Drogasil SA 196,300 1,031,165
Rede D’Or Sao Luiz SA (B) 35,636 162,906
Rumo SA 136,490 537,464
Sendas Distribuidora SA 92,700 227,727
Suzano SA 103,865 826,294
Telefonica Brasil SA 73,400 603,298
TIM SA 175,700 491,680
Vale SA 417,900 6,047,745
WEG SA 116,800 960,016
Cayman Islands - 0.0% 244,092
Parade Technologies, Ltd. 8,000 244,092
Chile - 0.4% 3,170,709
Banco de Chile 3,983,338 426,773
Banco de Credito e Inversiones SA 8,095 245,708
Banco Santander Chile 9,925,774 477,590
Cencosud SA (A) 272,460 558,692
Cia Sud Americana de Vapores SA 1,536,414 157,984
Empresas CMPC SA 191,898 302,597
20 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Chile (continued)  
Empresas COPEC SA 42,721 $299,123
Enel Americas SA 2,577,466 353,419
Enel Chile SA 3,592,026 205,969
Falabella SA 66,205 142,854
China - 23.6% 165,722,464
360 Security Technology, Inc., Class A 15,600 35,959
37 Interactive Entertainment Network Technology Group Company, Ltd., Class A 6,100 27,021
Agricultural Bank of China, Ltd., H Shares 4,368,000 1,686,014
Aier Eye Hospital Group Company, Ltd., A Shares 71,662 304,720
Alibaba Group Holding, Ltd., ADR (A) 129,520 10,969,049
Aluminum Corp. of China, Ltd., H Shares 742,000 438,589
Anhui Conch Cement Company, Ltd., H Shares 239,000 752,022
Anhui Gujing Distillery Company, Ltd., A Shares 3,300 130,386
Anhui Yingjia Distillery Company, Ltd., Class A 1,800 16,630
ANTA Sports Products, Ltd. 186,400 2,298,567
Asymchem Laboratories Tianjin Company, Ltd., Class A 1,920 35,043
Avary Holding Shenzhen Company, Ltd., A Shares 27,700 104,392
Baidu, Inc., ADR (A) 28,594 3,448,722
Bank of Beijing Company, Ltd., Class A 162,900 111,450
Bank of Chengdu Company, Ltd., Class A 17,600 34,904
Bank of China, Ltd., H Shares 9,120,000 3,636,428
Bank of Communications Company, Ltd., H Shares 3,000,000 1,933,783
Bank of Hangzhou Company, Ltd., A Shares 45,300 82,124
Bank of Jiangsu Company, Ltd., Class A 116,500 129,646
Bank of Nanjing Company, Ltd., Class A 78,800 107,141
Bank of Ningbo Company, Ltd., A Shares 81,415 321,749
Bank of Shanghai Company, Ltd., A Shares 140,600 127,446
Baoshan Iron & Steel Company, Ltd., A Shares 272,600 253,391
Beijing Kingsoft Office Software, Inc., Class A 1,355 86,093
Beijing New Building Materials PLC, Class A 4,800 18,374
Beijing Wantai Biological Pharmacy Enterprise Company, Ltd., Class A (A) 1,400 21,203
Bilibili, Inc., Class Z (A) 22,940 459,390
Bloomage Biotechnology Corp., Ltd., Class A 700 10,042
BOE Technology Group Company, Ltd., A Shares 483,300 280,429
BYD Company, Ltd., H Shares 68,000 2,044,357
Changchun High & New Technology Industry Group, Inc., A Shares 4,100 96,408
Chaozhou Three-Circle Group Company, Ltd., Class A 4,500 19,648
China CITIC Bank Corp., Ltd., H Shares 1,882,000 1,016,533
China Coal Energy Company, Ltd., H Shares 376,000 321,879
China Construction Bank Corp., H Shares 10,292,000 6,883,272
China Eastern Airlines Corp., Ltd., H Shares (A)(C) 210,000 82,396
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
China Energy Engineering Corp., Ltd., H Shares 766,000 $115,145
China Everbright Bank Company, Ltd., H Shares 566,000 180,978
China Feihe, Ltd. (B) 224,000 150,667
China Galaxy Securities Company, Ltd., H Shares 382,500 207,089
China Hongqiao Group, Ltd. 422,500 413,894
China International Capital Corp., Ltd., H Shares (B) 297,600 622,504
China Jushi Company, Ltd., Class A 40,000 84,178
China Life Insurance Company, Ltd., H Shares 1,041,000 1,991,850
China Longyuan Power Group Corp., Ltd., H Shares 708,000 739,576
China Merchants Bank Company, Ltd., H Shares 462,500 2,218,261
China Merchants Securities Company, Ltd., H Shares (B) 117,940 119,444
China Merchants Shekou Industrial Zone Holdings Company, Ltd., A Shares 57,900 114,159
China Minsheng Banking Corp., Ltd., H Shares (C) 1,208,500 443,379
China National Building Material Company, Ltd., H Shares 534,000 398,634
China Northern Rare Earth Group High-Tech Company, Ltd., Class A 26,200 95,146
China Pacific Insurance Group Company, Ltd., H Shares 484,800 1,442,067
China Petroleum & Chemical Corp., H Shares 4,500,000 2,940,802
China Railway Signal & Communication Corp., Ltd., H Shares (B) 62,000 29,065
China Resources Microelectronics, Ltd., Class A 7,254 59,942
China Resources Mixc Lifestyle Services, Ltd. (B) 36,400 192,204
China Resources Sanjiu Medical & Pharmaceutical Company, Ltd., Class A 2,500 21,272
China Shenhua Energy Company, Ltd., H Shares 518,000 1,715,691
China Southern Airlines Company, Ltd., H Shares (A)(C) 210,000 146,601
China Tourism Group Duty Free Corp., Ltd., A Shares 11,500 267,208
China Tower Corp., Ltd., H Shares (B) 8,928,000 1,137,339
China Vanke Company, Ltd., H Shares 373,672 581,698
China Zheshang Bank Company, Ltd., H Shares (C) 59,000 21,120
Chongqing Brewery Company, Ltd., Class A 1,100 16,538
Chongqing Zhifei Biological Products Company, Ltd., A Shares 14,400 169,104
CITIC Securities Company, Ltd., H Shares 197,250 413,602
CITIC, Ltd. 728,000 911,635
CMOC Group, Ltd., H Shares 840,000 512,567
Contemporary Amperex Technology Company, Ltd., A Shares 21,960 731,715
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 21
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
COSCO SHIPPING Energy Transportation Company, Ltd., H Shares 48,000 $49,224
COSCO SHIPPING Holdings Company, Ltd., H Shares 805,199 931,376
CSC Financial Company, Ltd., H Shares (B) 157,500 159,910
CSPC Pharmaceutical Group, Ltd. 2,037,840 2,071,614
Dongfang Electric Corp., Ltd., H Shares 11,800 16,656
East Money Information Company, Ltd., A Shares 75,206 174,658
Ecovacs Robotics Company, Ltd., Class A 1,300 13,041
ENN Energy Holdings, Ltd. 182,500 2,487,611
ENN Natural Gas Company, Ltd., Class A 5,000 14,650
Eve Energy Company, Ltd., A Shares 13,300 125,836
Flat Glass Group Company, Ltd., H Shares (C) 48,000 134,218
Focus Media Information Technology Company, Ltd., A Shares 133,400 124,000
Foshan Haitian Flavouring & Food Company, Ltd., Class A (A) 18,970 193,309
Foxconn Industrial Internet Company, Ltd., Class A 81,300 189,163
Fuyao Glass Industry Group Company, Ltd. , H Shares (B) 152,400 617,373
Ganfeng Lithium Group Company, Ltd., H Shares (B) 42,600 279,210
GD Power Development Company, Ltd., Class A 125,800 70,089
GF Securities Company, Ltd., H Shares 225,200 322,456
GigaDevice Semiconductor, Inc., Class A 2,200 34,444
Ginlong Technologies Company, Ltd., Class A (A) 2,200 36,136
GoerTek, Inc., A Shares 50,500 129,308
GoodWe Technologies Company, Ltd., Class A 382 14,314
Gotion High-tech Company, Ltd., Class A 8,500 33,739
Great Wall Motor Company, Ltd., H Shares (C) 452,000 543,559
Gree Electric Appliances, Inc. of Zhuhai, A Shares 47,200 268,013
Guangdong Haid Group Company, Ltd., A Shares 12,100 95,865
Guanghui Energy Company, Ltd., Class A 58,000 77,772
Guangzhou Automobile Group Company, Ltd., H Shares 322,000 199,766
Guangzhou Baiyunshan Pharmaceutical Company, Ltd., H Shares 8,000 26,242
Guangzhou Tinci Materials Technology Company, Ltd., Class A 18,200 112,118
Guosen Securities Company, Ltd., Class A 29,500 40,067
Guotai Junan Securities Company, Ltd., H Shares (B) 189,000 243,175
H World Group, Ltd., ADR (A) 12,102 567,584
Haier Smart Home Company, Ltd., H Shares 522,400 1,693,662
Haitong Securities Company, Ltd., H Shares 486,000 321,940
Hangzhou First Applied Material Company, Ltd., Class A 8,320 59,000
Hangzhou Silan Microelectronics Company, Ltd., Class A 2,500 11,872
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Hangzhou Tigermed Consulting Company, Ltd., A Shares 5,200 $68,271
Hansoh Pharmaceutical Group Company, Ltd. (B) 156,000 283,785
Henan Shuanghui Investment & Development Company, Ltd., A Shares 25,800 92,912
Hengli Petrochemical Company, Ltd., A Shares 106,600 243,105
Hithink Royalflush Information Network Company, Ltd., Class A 1,200 30,829
Huadian Power International Corp., H Shares (C) 74,000 35,822
Huadong Medicine Company, Ltd., Class A 11,600 69,400
Huaneng Power International, Inc., H Shares (A) 374,000 232,502
Huatai Securities Company, Ltd., H Shares (B) 275,400 355,042
Huaxia Bank Company, Ltd., Class A 105,709 87,885
Huayu Automotive Systems Company, Ltd., Class A 19,800 46,812
Huizhou Desay Sv Automotive Company, Ltd., Class A 4,300 64,163
Hundsun Technologies, Inc., Class A 6,770 48,272
Iflytek Company, Ltd., A Shares 15,500 135,576
Imeik Technology Development Company, Ltd., Class A (A) 1,300 102,070
Industrial & Commercial Bank of China, Ltd., H Shares 7,485,000 4,023,835
Industrial Bank Company, Ltd., A Shares 176,800 439,435
Industrial Securities Company, Ltd., Class A 22,200 21,533
Inner Mongolia BaoTou Steel Union Company, Ltd., Class A 361,900 95,069
Inner Mongolia Yili Industrial Group Company, Ltd., A Shares 54,300 231,677
Innovent Biologics, Inc. (A)(B) 23,000 109,728
iQIYI, Inc., ADR (A) 19,580 119,438
JA Solar Technology Company, Ltd., Class A 22,736 132,546
JCET Group Company, Ltd., Class A 7,300 29,028
JD Health International, Inc. (A)(B) 78,900 565,373
JD.com, Inc., ADR 88,935 3,176,758
Jiangsu Eastern Shenghong Company, Ltd., Class A 46,200 84,489
Jiangsu Hengli Hydraulic Company, Ltd., A Shares 8,800 78,179
Jiangsu Hengrui Pharmaceuticals Company, Ltd., Class A 30,951 217,339
Jiangsu King’s Luck Brewery JSC, Ltd., Class A 8,900 76,819
Jiangsu Pacific Quartz Company, Ltd., Class A 1,100 18,846
Jiangsu Yanghe Brewery Joint-Stock Company, Ltd., A Shares 12,790 276,358
Jiangsu Zhongtian Technology Company, Ltd., Class A 18,800 39,591
Jiangxi Copper Company, Ltd., H Shares 40,000 70,931
Jiugui Liquor Company, Ltd., Class A 1,000 16,136
KE Holdings, Inc., ADR (A) 62,043 973,455
Kuaishou Technology (A)(B) 73,000 477,063
22 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Kweichow Moutai Company, Ltd., A Shares 7,300 $1,854,998
LB Group Company, Ltd., Class A 9,000 22,499
Lenovo Group, Ltd. 1,834,000 1,873,741
Lens Technology Company, Ltd., A Shares 11,300 19,018
Li Auto, Inc., Class A (A) 59,700 695,495
Li Ning Company, Ltd. 321,500 2,287,389
Longfor Group Holdings, Ltd. (B) 328,000 892,088
Luxshare Precision Industry Company, Ltd., A Shares 69,700 262,575
Luzhou Laojiao Company, Ltd., A Shares 12,600 411,452
Mango Excellent Media Company, Ltd., A Shares 7,200 37,288
Meituan, Class B (A)(B) 221,770 3,757,425
Metallurgical Corp. of China, Ltd., H Shares 331,000 100,777
Ming Yang Smart Energy Group, Ltd., Class A 5,800 17,296
Montage Technology Company, Ltd., Class A 3,406 29,939
Muyuan Foods Company, Ltd., A Shares 26,360 182,133
NARI Technology Company, Ltd., A Shares 53,860 203,058
NAURA Technology Group Company, Ltd., Class A 2,300 111,053
NetEase, Inc., ADR 37,135 3,309,843
New China Life Insurance Company, Ltd., H Shares 162,600 463,986
New Hope Liuhe Company, Ltd., A Shares (A) 23,600 44,317
Ninestar Corp., Class A 3,100 17,710
Ningbo Tuopu Group Company, Ltd., Class A 4,500 32,866
Ningxia Baofeng Energy Group Company, Ltd., Class A 59,500 113,191
NIO, Inc., Class A (A)(C) 190,530 1,507,269
Nongfu Spring Company, Ltd., H Shares (B) 161,800 873,937
Oppein Home Group, Inc., Class A 3,500 58,172
Orient Securities Company, Ltd., H Shares (B)(C) 106,000 63,061
Pangang Group Vanadium Titanium & Resources Company, Ltd., Class A (A) 26,600 16,125
PetroChina Company, Ltd., H Shares 2,722,000 1,882,885
Pharmaron Beijing Company, Ltd., H Shares (B) 23,750 102,414
PICC Property & Casualty Company, Ltd., H Shares 1,384,000 1,669,637
Ping An Bank Company, Ltd., A Shares 163,100 295,445
Ping An Insurance Group Company of China, Ltd., H Shares 653,000 4,716,633
Poly Developments and Holdings Group Company, Ltd., A Shares 146,500 294,133
Postal Savings Bank of China Company, Ltd., H Shares (B) 1,052,000 683,474
Rongsheng Petrochemical Company, Ltd., A Shares 131,350 250,635
SAIC Motor Corp., Ltd., Class A 53,900 109,851
Sany Heavy Industry Company, Ltd., A Shares 80,400 191,362
SF Holding Company, Ltd., A Shares 40,200 327,544
SG Micro Corp., Class A 1,350 24,182
Shaanxi Coal Industry Company, Ltd., A Shares 127,500 360,148
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Shandong Gold Mining Company, Ltd., H Shares (B) 104,220 $221,719
Shandong Hualu Hengsheng Chemical Company, Ltd., Class A 21,700 99,852
Shandong Weigao Group Medical Polymer Company, Ltd., H Shares 96,000 163,141
Shanghai Baosight Software Company, Ltd., Class A 10,300 80,281
Shanghai Electric Group Company, Ltd., H Shares (A) 86,000 23,226
Shanghai Fosun Pharmaceutical Group Company, Ltd., H Shares 68,500 195,031
Shanghai International Airport Company, Ltd., A Shares (A) 19,300 149,593
Shanghai Jinjiang International Hotels Company, Ltd., Class A 2,300 17,757
Shanghai M&G Stationery, Inc., Class A 2,600 17,394
Shanghai Pharmaceuticals Holding Company, Ltd., H Shares 25,700 52,121
Shanghai Pudong Development Bank Company, Ltd., Class A 241,800 265,246
Shanghai Putailai New Energy Technology Company, Ltd., Class A 8,600 64,821
Shanxi Coking Coal Energy Group Company, Ltd., Class A 21,700 32,167
Shanxi Lu’an Environmental Energy Development Company, Ltd., Class A 12,500 36,355
Shanxi Xinghuacun Fen Wine Factory Company, Ltd., A Shares 10,645 381,752
Shenwan Hongyuan Group Company, Ltd., H Shares (B) 215,200 43,315
Shenzhen Inovance Technology Company, Ltd., A Shares 22,750 202,932
Shenzhen Mindray Bio-Medical Electronics Company, Ltd., A Shares 10,300 463,695
Shenzhen New Industries Biomedical Engineering Company, Ltd., Class A 1,700 12,975
Shenzhen Transsion Holdings Company, Ltd., Class A 1,543 24,276
Shenzhou International Group Holdings, Ltd. 166,700 1,589,510
Sichuan Chuantou Energy Company, Ltd., Class A 10,700 22,209
Sichuan Road and Bridge Group Company, Ltd., Class A 15,100 34,545
Silergy Corp. 26,000 406,376
Sinopharm Group Company, Ltd., H Shares 56,400 199,378
Smoore International Holdings, Ltd. (B)(C) 264,000 306,715
Sungrow Power Supply Company, Ltd., A Shares 11,100 180,626
Sunny Optical Technology Group Company, Ltd. 127,700 1,339,647
Suzhou Dongshan Precision Manufacturing Company, Ltd., Class A 7,600 27,095
Suzhou Maxwell Technologies Company, Ltd., Class A (A) 300 11,902
TBEA Company, Ltd., Class A 46,000 149,987
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 23
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
TCL Technology Group Corp., A Shares 178,200 $102,884
TCL Zhonghuan Renewable Energy Technology Company, Ltd., Class A 19,200 115,230
Tencent Holdings, Ltd. 500,200 21,945,360
Tencent Music Entertainment Group, ADR (A) 51,564 382,089
The People’s Insurance Company Group of China, Ltd., H Shares 1,154,000 452,785
Tianqi Lithium Corp., H Shares (A)(C) 7,200 44,943
Tingyi Cayman Islands Holding Corp. 336,000 585,546
Tongwei Company, Ltd., A Shares 52,100 299,521
Trina Solar Company, Ltd., Class A 5,955 42,289
Trip.com Group, Ltd., ADR (A) 68,299 2,425,297
Tsingtao Brewery Company, Ltd., H Shares 56,000 597,103
Unigroup Guoxin Microelectronics Company, Ltd., Class A 7,519 115,039
Unisplendour Corp., Ltd., Class A 6,700 28,654
Vipshop Holdings, Ltd., ADR (A) 13,745 215,797
Walvax Biotechnology Company, Ltd., Class A (A) 7,400 34,094
Wanhua Chemical Group Company, Ltd., A Shares (A) 26,900 357,906
Weichai Power Company, Ltd., H Shares 411,000 605,251
Wens Foodstuffs Group Company, Ltd., Class A 36,600 104,493
Will Semiconductor Company, Ltd., A Shares 8,515 112,149
Wingtech Technology Company, Ltd., A Shares 9,300 70,567
Wuliangye Yibin Company, Ltd., A Shares 27,500 670,809
WuXi AppTec Company, Ltd., H Shares (B) 48,280 422,225
WuXi Biologics Cayman, Inc. (A)(B) 281,000 1,662,754
Wuxi Lead Intelligent Equipment Company, Ltd., Class A 5,000 27,605
XCMG Construction Machinery Company, Ltd., Class A 23,600 23,368
Xinyi Solar Holdings, Ltd. 918,006 981,168
XPeng, Inc., Class A (A)(C) 73,100 350,139
Yankuang Energy Group Company, Ltd., H Shares (C) 310,000 1,060,332
Yealink Network Technology Corp., Ltd., Class A 2,500 23,790
Yonyou Network Technology Company, Ltd., A Shares 17,600 54,897
YTO Express Group Company, Ltd., Class A 13,900 34,709
Yum China Holdings, Inc. 92,762 5,675,179
Yunnan Baiyao Group Company, Ltd., A Shares 14,740 123,801
Yunnan Energy New Material Company, Ltd., A Shares 9,200 138,235
Zhangzhou Pientzehuang Pharmaceutical Company, Ltd., A Shares 6,300 247,273
Zhejiang Chint Electrics Company, Ltd., Class A 23,400 87,984
Zhejiang Huayou Cobalt Company, Ltd., A Shares 16,360 122,791
Zhejiang Jingsheng Mechanical & Electrical Company, Ltd., Class A 12,600 124,432
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
China (continued)  
Zhejiang Juhua Company, Ltd., Class A 10,000 $21,867
Zhejiang NHU Company, Ltd., A Shares 47,068 115,968
Zhongsheng Group Holdings, Ltd. 104,000 442,502
Zijin Mining Group Company, Ltd., H Shares 1,296,000 2,182,591
Zoomlion Heavy Industry Science and Technology Company, Ltd., H Shares 53,200 28,938
ZTO Express Cayman, Inc., ADR 82,952 2,296,111
Hong Kong - 1.5% 10,863,764
Alibaba Health Information Technology, Ltd. (A) 90,000 64,319
China Gas Holdings, Ltd. 114,800 147,121
China Mengniu Dairy Company, Ltd. (A) 393,000 1,579,530
China Resources Beer Holdings Company, Ltd. 290,000 2,229,519
China Resources Gas Group, Ltd. 208,000 655,805
China Resources Land, Ltd. 534,000 2,476,159
China Resources Power Holdings Company, Ltd. 160,000 347,317
Geely Automobile Holdings, Ltd. 1,032,000 1,268,653
Kunlun Energy Company, Ltd. 164,000 151,676
Orient Overseas International, Ltd. 9,500 192,181
Sino Biopharmaceutical, Ltd. 2,075,500 1,147,489
The Wharf Holdings, Ltd. 145,000 331,380
Want Want China Holdings, Ltd. 428,000 272,615
India - 19.3% 135,491,827
ABB India, Ltd. 3,771 157,211
Adani Ports & Special Economic Zone, Ltd. 77,727 646,805
Adani Total Gas, Ltd. 29,797 343,424
Adani Transmission, Ltd. (A) 18,535 233,601
Aditya Birla Capital, Ltd. (A) 31,676 64,717
Alkem Laboratories, Ltd. 4,972 213,859
Ambuja Cements, Ltd. (A) 22,478 109,044
Apollo Hospitals Enterprise, Ltd. 14,164 782,310
Ashok Leyland, Ltd. 160,607 285,550
Asian Paints, Ltd. 57,937 2,048,844
Astral, Ltd. 13,944 246,894
AU Small Finance Bank, Ltd. (B) 37,459 303,476
Avenue Supermarts, Ltd. (A)(B) 11,638 499,729
Axis Bank, Ltd. 284,476 2,989,499
Bajaj Auto, Ltd. 8,780 473,138
Bajaj Finance, Ltd. 23,539 1,801,475
Bajaj Finserv, Ltd. 29,208 483,253
Bajaj Holdings & Investment, Ltd. 5,493 462,470
Balkrishna Industries, Ltd. 10,294 261,639
Bandhan Bank, Ltd. (A)(B) 145,676 407,641
Bank of Baroda 132,887 305,765
Berger Paints India, Ltd. 38,867 289,687
Bharat Electronics, Ltd. 701,019 883,595
Bharat Forge, Ltd. 9,878 96,485
Bharat Petroleum Corp., Ltd. 204,315 889,550
Bharti Airtel, Ltd. 305,643 2,983,741
24 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
India (continued)  
Bosch, Ltd. 1,049 $248,290
Britannia Industries, Ltd. 16,730 926,795
Canara Bank 36,495 141,144
CG Power & Industrial Solutions, Ltd. 26,217 98,591
Cholamandalam Investment and Finance Company, Ltd. 74,277 793,223
Cipla, Ltd. 114,363 1,270,223
Coal India, Ltd. 476,670 1,357,151
Colgate-Palmolive India, Ltd. 18,183 353,278
Container Corp. of India, Ltd. 33,605 250,817
Cummins India, Ltd. 3,005 57,795
Dabur India, Ltd. 116,400 758,114
Divi’s Laboratories, Ltd. 18,485 737,457
DLF, Ltd. 91,200 473,350
Dr. Reddy’s Laboratories, Ltd. 23,894 1,433,589
Eicher Motors, Ltd. 17,086 688,566
GAIL India, Ltd. 558,143 731,471
Godrej Consumer Products, Ltd. (A) 45,369 504,687
Godrej Properties, Ltd. (A) 10,641 171,045
Grasim Industries, Ltd. 58,732 1,232,216
Gujarat Fluorochemicals, Ltd. 2,139 88,606
Gujarat Gas, Ltd. 26,004 148,424
Havells India, Ltd. 43,235 648,977
HCL Technologies, Ltd. 147,166 1,911,591
HDFC Asset Management Company, Ltd. (B) 7,381 159,460
HDFC Bank, Ltd. 413,321 8,521,096
HDFC Life Insurance Company, Ltd. (B) 68,658 445,031
Hero MotoCorp, Ltd. 33,035 1,033,400
Hindalco Industries, Ltd. 356,870 1,899,120
Hindustan Aeronautics, Ltd. 16,624 592,755
Hindustan Unilever, Ltd. 107,846 3,239,218
Housing Development Finance Corp., Ltd. 193,811 6,560,130
ICICI Bank, Ltd. 554,589 6,229,925
ICICI Lombard General Insurance Company, Ltd. (B) 28,135 370,905
ICICI Prudential Life Insurance Company, Ltd. (B) 31,418 166,426
Indian Oil Corp., Ltd. 954,524 948,852
Indian Railway Catering & Tourism Corp., Ltd. 20,610 155,640
Indus Towers, Ltd. 239,627 453,274
IndusInd Bank, Ltd. 23,860 336,166
Info Edge India, Ltd. 5,576 256,778
Infosys, Ltd. 388,218 5,943,793
InterGlobe Aviation, Ltd. (A)(B) 9,116 225,237
ITC, Ltd. 414,717 2,159,830
Jindal Steel & Power, Ltd. 91,445 650,335
JSW Energy, Ltd. 49,310 156,210
JSW Steel, Ltd. 315,085 2,797,547
Kotak Mahindra Bank, Ltd. 100,470 2,373,136
L&T Technology Services, Ltd. (B) 3,522 163,025
Larsen & Toubro, Ltd. 106,006 3,057,009
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
India (continued)  
LTIMindtree, Ltd. (B) 6,229 $335,745
Mahindra & Mahindra, Ltd. 160,727 2,406,105
Marico, Ltd. 90,813 552,238
Maruti Suzuki India, Ltd. 10,698 1,125,015
Max Healthcare Institute, Ltd. (A) 35,892 199,994
Mphasis, Ltd. 9,077 201,752
MRF, Ltd. 171 185,740
Muthoot Finance, Ltd. 29,429 366,081
Nestle India, Ltd. 5,224 1,388,407
NHPC, Ltd. 204,174 110,025
NMDC, Ltd. 216,143 286,830
NTPC, Ltd. 1,166,044 2,450,742
Oberoi Realty, Ltd. 5,771 64,310
Oil & Natural Gas Corp., Ltd. 800,661 1,552,673
Page Industries, Ltd. 597 294,142
Persistent Systems, Ltd. 1,961 113,271
Petronet LNG, Ltd. 198,902 575,418
PI Industries, Ltd. 6,374 263,025
Pidilite Industries, Ltd. 22,088 651,820
Polycab India, Ltd. 3,492 136,332
Power Finance Corp., Ltd. 82,068 170,582
Power Grid Corp. of India, Ltd. 892,548 2,577,754
Procter & Gamble Hygiene & Health Care, Ltd. 1,623 277,653
Punjab National Bank 283,166 180,966
Reliance Industries, Ltd. 335,378 9,917,136
Samvardhana Motherson International, Ltd. 344,328 309,463
SBI Cards & Payment Services, Ltd. 25,792 242,993
SBI Life Insurance Company, Ltd. (B) 34,129 475,426
Schaeffler India, Ltd. 3,243 110,166
Shree Cement, Ltd. 1,209 356,137
Shriram Finance, Ltd. 31,704 516,337
Siemens, Ltd. 10,526 444,649
Solar Industries India, Ltd. 1,151 53,699
SRF, Ltd. 17,140 530,853
State Bank of India 235,864 1,660,404
Steel Authority of India, Ltd. 270,402 273,256
Sun Pharmaceutical Industries, Ltd. 85,714 1,033,192
Supreme Industries, Ltd. 1,612 53,471
Tata Communications, Ltd. 13,477 208,982
Tata Consultancy Services, Ltd. 108,842 4,275,942
Tata Consumer Products, Ltd. 69,055 642,906
Tata Elxsi, Ltd. 3,555 287,966
Tata Motors, Ltd. (A) 374,820 2,218,840
Tata Steel, Ltd. 1,843,621 2,433,042
Tech Mahindra, Ltd. 139,005 1,736,283
The Indian Hotels Company, Ltd. 37,782 156,509
The Tata Power Company, Ltd. 198,212 487,802
Titan Company, Ltd. 48,859 1,574,378
Torrent Pharmaceuticals, Ltd. 14,626 294,312
Trent, Ltd. 18,585 309,991
Tube Investments of India, Ltd. 8,454 267,040
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 25
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
India (continued)  
TVS Motor Company, Ltd. 13,602 $189,280
UltraTech Cement, Ltd. 9,325 859,161
Union Bank of India, Ltd. 35,918 33,269
United Breweries, Ltd. 8,995 162,250
United Spirits, Ltd. (A) 39,974 379,194
UPL, Ltd. 136,872 1,236,320
Varun Beverages, Ltd. 27,716 488,371
Vedanta, Ltd. 403,548 1,376,781
Wipro, Ltd. 190,237 894,276
Zydus Lifesciences, Ltd. 55,343 352,030
Indonesia - 2.6% 18,612,234
Adaro Energy Indonesia Tbk PT 2,617,000 558,365
Aneka Tambang Tbk 1,099,100 157,335
Astra International Tbk PT 2,969,000 1,366,104
Bank Central Asia Tbk PT 5,650,600 3,485,885
Bank Mandiri Persero Tbk PT 6,360,800 2,243,840
Bank Negara Indonesia Persero Tbk PT 1,535,000 986,188
Bank Rakyat Indonesia Persero Tbk PT 8,317,650 2,891,617
Barito Pacific Tbk PT 3,885,250 221,144
Bukit Asam Tbk PT 383,100 108,114
Bumi Resources Tbk PT (A) 3,815,600 31,472
Chandra Asri Petrochemical Tbk PT (A) 475,000 76,414
Charoen Pokphand Indonesia Tbk PT 1,466,200 458,750
Dayamitra Telekomunikasi Tbk PT 921,200 43,956
Elang Mahkota Teknologi Tbk PT 2,515,100 120,869
Gudang Garam Tbk PT 92,400 179,194
Indah Kiat Pulp & Paper Tbk PT 343,600 182,106
Indofood CBP Sukses Makmur Tbk PT 280,700 202,345
Indofood Sukses Makmur Tbk PT 961,000 422,526
Indosat Tbk PT 128,900 61,506
Kalbe Farma Tbk PT 2,453,400 354,547
Mayora Indah Tbk PT 757,500 134,254
Merdeka Copper Gold Tbk PT (A) 1,605,789 431,275
Sarana Menara Nusantara Tbk PT 3,642,600 254,510
Semen Indonesia Persero Tbk PT (A) 742,046 300,966
Sumber Alfaria Trijaya Tbk PT 1,650,100 326,196
Telkom Indonesia Persero Tbk PT 6,778,700 1,963,836
Tower Bersama Infrastructure Tbk PT 790,600 111,018
United Tractors Tbk PT 401,200 790,367
Vale Indonesia Tbk PT (A) 310,300 147,535
Ireland - 0.3% 2,013,287
PDD Holdings, Inc., ADR (A) 29,542 2,013,287
Malaysia - 1.9% 13,101,323
Axiata Group BHD 397,395 266,385
CELCOMDIGI BHD 451,900 445,771
CIMB Group Holdings BHD 800,824 908,456
Dialog Group BHD 532,800 273,537
Genting BHD 439,200 462,782
Genting Malaysia BHD 518,000 314,714
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Malaysia (continued)  
HAP Seng Consolidated BHD 78,800 $87,271
Hong Leong Bank BHD 89,000 401,852
Hong Leong Financial Group BHD 48,900 198,648
IHH Healthcare BHD 247,600 318,069
IOI Corp. BHD 405,200 347,016
Kuala Lumpur Kepong BHD 79,975 385,486
Malayan Banking BHD 717,022 1,392,088
Maxis BHD 272,400 268,705
MISC BHD 197,100 322,571
Mr. DIY Group M BHD (B) 122,500 43,392
Nestle Malaysia BHD 6,900 209,607
Petronas Chemicals Group BHD 207,900 329,993
Petronas Dagangan BHD 66,500 337,532
Petronas Gas BHD 85,500 323,944
PPB Group BHD 106,500 388,228
Press Metal Aluminium Holdings BHD 447,300 516,443
Public Bank BHD 1,697,100 1,480,040
QL Resources BHD 35,300 44,714
RHB Bank BHD 424,294 521,271
Sime Darby BHD 677,000 329,355
Sime Darby Plantation BHD 354,038 339,711
Telekom Malaysia BHD 244,270 271,624
Tenaga Nasional BHD 709,500 1,415,660
Westports Holdings BHD 197,700 156,458
Mexico - 2.9% 20,409,809
America Movil SAB de CV (A) 2,485,388 2,671,527
Arca Continental SAB de CV 49,364 469,997
Cemex SAB de CV (A) 2,550,188 1,528,218
Coca-Cola Femsa SAB de CV 24,060 198,626
El Puerto de Liverpool SAB de CV, Series C1 27,856 170,604
Fibra Uno Administracion SA de CV 331,140 455,435
Fomento Economico Mexicano SAB de CV 182,648 1,770,690
Gruma SAB de CV, Class B 20,415 319,528
Grupo Aeroportuario del Pacifico SAB de CV, Series B 47,928 849,388
Grupo Aeroportuario del Sureste SAB de CV, Series B 21,844 623,715
Grupo Bimbo SAB de CV, Series A 279,000 1,492,516
Grupo Carso SAB de CV, Series A1 67,204 380,223
Grupo Elektra SAB de CV (C) 5,001 319,633
Grupo Financiero Banorte SAB de CV, Series O 308,304 2,663,115
Grupo Financiero Inbursa SAB de CV, Series O (A)(C) 384,040 935,457
Grupo Mexico SAB de CV, Series B 496,008 2,417,761
Industrias Penoles SAB de CV (A) 7,100 109,418
Kimberly-Clark de Mexico SAB de CV, Class A 192,700 434,133
Wal-Mart de Mexico SAB de CV 647,140 2,599,825
Netherlands - 0.0% 383,286
NEPI Rockcastle NV 63,397 383,286
26 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Philippines - 1.1% $7,808,218
Aboitiz Equity Ventures, Inc. 426,400 421,511
Aboitiz Power Corp. 525,400 360,480
ACEN Corp. (A) 675,320 73,281
Ayala Corp. 31,910 368,159
Ayala Land, Inc. 829,100 398,944
Bank of the Philippine Islands 511,879 994,460
BDO Unibank, Inc. 368,706 958,629
Globe Telecom, Inc. 6,269 192,422
International Container Terminal Services, Inc. 111,430 436,586
JG Summit Holdings, Inc. 401,863 367,870
Jollibee Foods Corp. 62,520 253,986
Manila Electric Company 52,950 324,096
Metropolitan Bank & Trust Company 447,242 473,204
Monde Nissin Corp. (B) 708,900 119,675
PLDT, Inc. 18,545 403,145
San Miguel Corp. 28,630 54,898
SM Investments Corp. 34,825 562,758
SM Prime Holdings, Inc. 936,900 574,303
Universal Robina Corp. 177,010 469,811
Poland - 0.9% 6,087,590
Allegro.eu SA (A)(B) 31,173 245,771
Bank Polska Kasa Opieki SA 34,150 789,906
Cyfrowy Polsat SA 38,579 162,144
Dino Polska SA (A)(B) 6,583 671,706
KGHM Polska Miedz SA 19,245 553,766
LPP SA 177 511,869
mBank SA (A) 521 43,631
PGE Polska Grupa Energetyczna SA (A) 135,629 224,812
Polski Koncern Naftowy ORLEN SA 94,555 1,445,157
Powszechna Kasa Oszczednosci Bank Polski SA 95,636 739,136
Powszechny Zaklad Ubezpieczen SA 52,185 481,669
Santander Bank Polska SA 2,675 218,023
Russia - 0.1% 390,689
Gazprom PJSC, ADR (A)(D) 551,670 73,372
LUKOIL PJSC, ADR (A)(D) 57,062 97,234
MMC Norilsk Nickel PJSC, ADR (A)(D) 94,236 55,034
Novatek PJSC, GDR (A)(D) 5,960 26,677
Novolipetsk Steel PJSC, GDR (A)(D) 6,243 3,165
Novolipetsk Steel PJSC, GDR (London Stock Exchange) (A)(D) 174 88
Polyus PJSC, GDR (A)(D) 6,556 12,017
Polyus PJSC, GDR (London Stock Exchange) (A)(D) 318 583
Rosneft Oil Company PJSC, GDR (A)(D) 223,704 33,556
Sberbank of Russia PJSC, ADR (A)(D) 263,203 88,963
Saudi Arabia - 3.6% 25,383,753
ACWA Power Company 3,910 163,251
Al Rajhi Bank 189,039 3,870,796
Alinma Bank 127,571 1,076,498
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Saudi Arabia (continued)  
Almarai Company JSC 33,996 $533,864
Arabian Internet & Communications Services Company 1,012 75,279
Bank AlBilad (A) 37,783 416,543
Bank Al-Jazira 46,102 238,702
Banque Saudi Fransi 73,289 754,247
Bupa Arabia for Cooperative Insurance Company 3,519 165,503
Dar Al Arkan Real Estate Development Company (A) 21,691 92,994
Dr Sulaiman Al Habib Medical Services Group Company 11,687 894,278
Elm Company 2,238 264,333
Etihad Etisalat Company 93,470 1,146,351
Jarir Marketing Company 8,488 369,329
Mouwasat Medical Services Company 5,877 386,713
Nahdi Medical Company 1,441 68,848
Riyad Bank 180,483 1,443,595
SABIC Agri-Nutrients Company 31,430 1,119,537
Sahara International Petrochemical Company 81,177 837,590
Saudi Arabian Mining Company (A) 79,454 1,470,154
Saudi Basic Industries Corp. 87,713 2,158,506
Saudi Electricity Company 114,600 739,414
Saudi Industrial Investment Group 25,194 170,951
Saudi Kayan Petrochemical Company (A) 161,908 546,499
Saudi Research & Media Group (A) 1,228 69,017
Saudi Tadawul Group Holding Company 1,768 78,815
Saudi Telecom Company 165,833 1,989,625
The Saudi British Bank 45,246 436,090
The Saudi Investment Bank 39,272 171,508
The Saudi National Bank 237,348 3,094,440
Yanbu National Petrochemical Company 45,351 540,483
South Africa - 4.0% 28,188,864
Absa Group, Ltd. 109,920 1,067,953
African Rainbow Minerals, Ltd. 20,405 256,349
Anglo American Platinum, Ltd. 7,488 443,630
AngloGold Ashanti, Ltd. 70,854 1,896,583
Aspen Pharmacare Holdings, Ltd. 44,816 448,068
Bid Corp., Ltd. 41,674 948,869
Capitec Bank Holdings, Ltd. 13,039 1,135,950
Clicks Group, Ltd. 36,843 538,708
Discovery, Ltd. (A) 94,668 744,400
Exxaro Resources, Ltd. 35,684 374,371
FirstRand, Ltd. 634,526 2,233,573
Gold Fields, Ltd. 188,341 2,926,000
Impala Platinum Holdings, Ltd. 143,568 1,395,653
Investec, Ltd. 41,043 225,825
Kumba Iron Ore, Ltd. 7,454 180,898
MTN Group, Ltd. 128,858 904,358
MultiChoice Group 16,222 101,580
Naspers, Ltd., N Shares 15,557 2,774,840
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 27
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
South Africa (continued)  
Nedbank Group, Ltd. 90,813 $1,048,258
Northam Platinum Holdings, Ltd. (A) 55,372 542,219
Pepkor Holdings, Ltd. (B) 142,973 132,544
Sanlam, Ltd. 385,365 1,189,370
Sasol, Ltd. 83,835 1,087,476
Shoprite Holdings, Ltd. 81,911 998,814
Sibanye Stillwater, Ltd. 580,076 1,280,791
Standard Bank Group, Ltd. 183,986 1,723,660
The Bidvest Group, Ltd. 39,262 538,024
Vodacom Group, Ltd. 96,601 661,645
Woolworths Holdings, Ltd. 109,184 388,455
South Korea - 12.8% 89,839,319
AMOREPACIFIC Corp. 2,956 272,321
AMOREPACIFIC Group 4,604 125,901
Celltrion Healthcare Company, Ltd. 7,433 385,423
Celltrion Pharm, Inc. (A) 62 3,780
Celltrion, Inc. 9,171 1,100,465
CJ CheilJedang Corp. 2,003 463,186
Coway Company, Ltd. 12,141 444,946
DB Insurance Company, Ltd. 5,993 376,130
Doosan Enerbility Company, Ltd. (A) 23,959 298,771
Ecopro BM Company, Ltd. 4,326 863,002
Ecopro Company, Ltd. 435 237,261
E-MART, Inc. 3,629 264,637
F&F Company, Ltd. 1,723 181,517
GS Holdings Corp. 15,089 447,574
Hana Financial Group, Inc. 64,211 2,012,591
Hanjin Kal Corp. 2,151 63,563
Hankook Tire & Technology Company, Ltd. 16,020 412,948
Hanmi Pharm Company, Ltd. 754 181,965
Hanon Systems 27,215 186,463
Hanwha Aerospace Company, Ltd. 656 50,337
Hanwha Solutions Corp. (A) 13,616 487,812
HD Hyundai Company, Ltd. 8,871 392,381
HD Hyundai Heavy Industries Company, Ltd. (A) 575 47,086
HD Korea Shipbuilding & Offshore Engineering Company, Ltd. (A) 8,430 534,118
HLB, Inc. (A) 6,363 168,060
HMM Company, Ltd. 39,366 600,020
HYBE Company, Ltd. (A) 1,237 249,544
Hyundai Engineering & Construction Company, Ltd. 14,376 440,389
Hyundai Glovis Company, Ltd. 5,217 638,092
Hyundai Mobis Company, Ltd. 8,527 1,385,701
Hyundai Motor Company 18,623 2,748,089
Hyundai Steel Company 13,763 374,822
Industrial Bank of Korea 60,573 455,293
Kakao Corp. 23,779 1,032,247
Kakao Games Corp. (A) 2,433 73,350
Kangwon Land, Inc. 11,875 167,691
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
South Korea (continued)  
KB Financial Group, Inc. 55,971 $2,070,057
Kia Corp. 36,252 2,288,773
Korea Aerospace Industries, Ltd. 3,237 132,537
Korea Electric Power Corp. (A) 49,134 685,761
Korea Investment Holdings Company, Ltd. 9,147 376,569
Korea Zinc Company, Ltd. 1,537 589,122
Korean Air Lines Company, Ltd. 24,204 413,226
KT&G Corp. 13,464 863,129
Kumho Petrochemical Company, Ltd. 3,250 331,216
L&F Company, Ltd. 1,506 298,184
LG Chem, Ltd. 3,640 2,012,552
LG Corp. 25,819 1,686,029
LG Display Company, Ltd. (A) 53,590 594,199
LG Electronics, Inc. 26,997 2,204,701
LG Energy Solution, Ltd. (A) 625 271,313
LG H&H Company, Ltd. 1,105 514,357
LG Innotek Company, Ltd. 1,916 378,648
LG Uplus Corp. 76,611 630,793
Lotte Chemical Corp. 3,930 493,599
Lotte Corp. 8,331 174,289
Lotte Energy Materials Corp. 799 35,938
Macquarie Korea Infrastructure Fund 25,570 237,474
Meritz Financial Group, Inc. (A) 9,437 323,639
Mirae Asset Securities Company, Ltd. 55,997 290,361
NAVER Corp. 10,123 1,454,463
NCSoft Corp. 2,067 582,232
Netmarble Corp. (A)(B) 3,533 171,054
Orion Corp. 3,084 333,885
Pearl Abyss Corp. (A) 2,119 68,158
POSCO Future M Company, Ltd. 2,424 606,724
POSCO Holdings, Inc. 9,488 2,672,576
Posco International Corp. 4,559 91,289
Samsung Biologics Company, Ltd. (A)(B) 1,115 650,639
Samsung C&T Corp. 12,812 1,049,160
Samsung Card Company, Ltd. 5,010 111,550
Samsung Electro-Mechanics Company, Ltd. 8,460 909,589
Samsung Electronics Company, Ltd. 575,651 28,171,797
Samsung Engineering Company, Ltd. (A) 14,616 317,787
Samsung Fire & Marine Insurance Company, Ltd. 7,999 1,344,721
Samsung Heavy Industries Company, Ltd. (A) 88,574 375,897
Samsung Life Insurance Company, Ltd. 15,139 749,937
Samsung SDI Company, Ltd. 4,031 2,081,157
Samsung SDS Company, Ltd. 4,390 384,748
Shinhan Financial Group Company, Ltd. 75,659 1,975,704
SK Biopharmaceuticals Company, Ltd. (A) 1,346 69,392
SK Bioscience Company, Ltd. (A) 1,603 84,318
SK Hynix, Inc. 78,667 5,260,532
SK IE Technology Company, Ltd. (A)(B) 1,718 99,224
SK Innovation Company, Ltd. (A) 7,222 934,047
SK Telecom Company, Ltd. 24,113 859,377
28 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
South Korea (continued)  
SK, Inc. 5,732 $695,943
SKC Company, Ltd. 1,069 79,392
S-Oil Corp. 8,768 488,712
Woori Financial Group, Inc. 103,079 903,405
Yuhan Corp. 4,600 197,968
Taiwan - 16.4% 115,260,705
Accton Technology Corp. 78,000 758,624
Advanced Energy Solution Holding Company, Ltd. 1,000 22,282
Advantech Company, Ltd. 52,989 639,470
Airtac International Group 16,743 604,529
ASE Technology Holding Company, Ltd. 721,000 2,368,740
Asia Cement Corp. 521,000 744,830
ASMedia Technology, Inc. 4,000 147,678
ASPEED Technology, Inc. 1,000 85,061
Asustek Computer, Inc. 128,000 1,176,222
AUO Corp. 1,353,600 748,514
Catcher Technology Company, Ltd. 148,000 871,367
Cathay Financial Holding Company, Ltd. 1,370,513 1,892,438
Chailease Holding Company, Ltd. 225,496 1,635,703
Chang Hwa Commercial Bank, Ltd. 1,279,139 740,625
Cheng Shin Rubber Industry Company, Ltd. 433,000 532,403
China Airlines, Ltd. 527,000 325,705
China Development Financial Holding Corp. 3,858,159 1,644,039
China Steel Corp. 1,790,000 1,694,364
Chunghwa Telecom Company, Ltd. 421,000 1,739,188
Compal Electronics, Inc. 844,000 657,520
CTBC Financial Holding Company, Ltd. 2,890,000 2,124,551
Delta Electronics, Inc. 155,000 1,512,564
E Ink Holdings, Inc. 54,000 334,618
E.Sun Financial Holding Company, Ltd. 2,283,399 1,853,161
Eclat Textile Company, Ltd. 26,000 412,296
eMemory Technology, Inc. 7,000 415,549
Eva Airways Corp. 475,000 414,857
Evergreen Marine Corp. Taiwan, Ltd. 178,000 935,090
Far Eastern New Century Corp. 842,000 873,703
Far EasTone Telecommunications Company, Ltd. 342,000 877,736
Feng TAY Enterprise Company, Ltd. 122,680 760,203
First Financial Holding Company, Ltd. 2,299,901 2,027,399
Formosa Chemicals & Fibre Corp. 587,000 1,315,583
Formosa Petrochemical Corp. 241,000 680,452
Formosa Plastics Corp. 622,000 1,899,839
Formosa Sumco Technology Corp. 3,000 14,540
Fubon Financial Holding Company, Ltd. 1,141,077 2,189,918
Giant Manufacturing Company, Ltd. 21,797 130,105
Global Unichip Corp. 4,000 129,593
Globalwafers Company, Ltd. 47,000 735,366
Hiwin Technologies Corp. 36,845 281,648
Hon Hai Precision Industry Company, Ltd. 1,367,800 4,649,430
Hotai Motor Company, Ltd. 44,000 946,052
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Taiwan (continued)  
Hua Nan Financial Holdings Company, Ltd. 2,199,097 $1,566,568
Innolux Corp. 1,677,875 731,350
Inventec Corp. 573,000 616,941
Largan Precision Company, Ltd. 14,000 915,345
Lite-On Technology Corp. 450,000 1,075,872
Lotes Company, Ltd. 4,000 114,239
MediaTek, Inc. 168,000 3,634,057
Mega Financial Holding Company, Ltd. 1,640,225 1,816,692
Micro-Star International Company, Ltd. 165,000 780,922
momo.com, Inc. 9,920 267,502
Nan Ya Plastics Corp. 823,000 2,088,119
Nan Ya Printed Circuit Board Corp. 29,000 258,941
Nanya Technology Corp. 223,000 491,808
Nien Made Enterprise Company, Ltd. 13,000 142,718
Novatek Microelectronics Corp. 116,000 1,579,117
Oneness Biotech Company, Ltd. (A) 19,000 148,947
Pegatron Corp. 456,000 1,038,302
PharmaEssentia Corp. (A) 11,307 136,269
Phison Electronics Corp. 11,000 139,188
Polaris Group (A) 11,000 33,992
Pou Chen Corp. 552,000 570,090
President Chain Store Corp. 107,000 941,482
Quanta Computer, Inc. 487,000 1,360,764
Realtek Semiconductor Corp. 71,000 829,113
Ruentex Development Company, Ltd. 160,500 186,904
Shin Kong Financial Holding Company, Ltd. 3,118,140 849,964
Sino-American Silicon Products, Inc. 105,000 503,781
SinoPac Financial Holdings Company, Ltd. 2,511,363 1,364,227
Synnex Technology International Corp. 115,000 231,552
TA Chen Stainless Pipe 250,150 361,687
Taishin Financial Holding Company, Ltd. 2,551,001 1,435,547
Taiwan Business Bank 489,000 221,893
Taiwan Cement Corp. 1,137,117 1,431,452
Taiwan Cooperative Financial Holding Company, Ltd. 1,485,843 1,292,878
Taiwan High Speed Rail Corp. 404,000 408,041
Taiwan Mobile Company, Ltd. 253,000 851,769
Taiwan Semiconductor Manufacturing Company, Ltd. 1,664,000 27,171,765
The Shanghai Commercial & Savings Bank, Ltd. 623,265 941,715
Unimicron Technology Corp. 209,000 985,769
Uni-President Enterprises Corp. 383,000 916,933
United Microelectronics Corp. 1,707,000 2,726,314
Vanguard International Semiconductor Corp. 170,000 479,434
Voltronic Power Technology Corp. 8,000 457,998
Walsin Lihwa Corp. 237,000 382,762
Wan Hai Lines, Ltd. 173,950 367,789
Win Semiconductors Corp. 59,000 313,784
Winbond Electronics Corp. 349,000 294,594
Wistron Corp. 125,000 189,071
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 29
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Taiwan (continued)  
Wiwynn Corp. 21,000 $795,804
Yageo Corp. 66,469 1,072,412
Yang Ming Marine Transport Corp. 364,000 747,122
Yuanta Financial Holding Company, Ltd. 2,778,230 2,042,384
Zhen Ding Technology Holding, Ltd. 114,000 413,467
Thailand - 2.3% 15,987,962
Advanced Info Service PCL, NVDR 148,300 929,386
Airports of Thailand PCL, NVDR (A) 345,800 741,778
Asset World Corp. PCL, NVDR 844,800 131,121
B Grimm Power PCL, NVDR 101,900 115,634
Bangkok Bank PCL, NVDR 81,900 376,552
Bangkok Dusit Medical Services PCL, NVDR 346,300 296,633
Bangkok Expressway & Metro PCL, NVDR 970,000 251,395
Bank of Ayudhya PCL, NVDR 184,500 158,039
Berli Jucker PCL, NVDR 215,200 245,781
BTS Group Holdings PCL, NVDR 1,091,300 246,080
Bumrungrad Hospital PCL, NVDR 49,900 347,791
Carabao Group PCL, NVDR 46,700 97,783
Central Pattana PCL, NVDR 179,300 357,051
Central Retail Corp. PCL, NVDR 422,900 554,207
Charoen Pokphand Foods PCL, NVDR 935,900 556,374
CP ALL PCL, NVDR 355,700 674,473
Delta Electronics Thailand PCL, NVDR 401,000 854,316
Electricity Generating PCL, NVDR 47,100 215,862
Energy Absolute PCL, NVDR 272,100 539,857
Global Power Synergy PCL, NVDR 115,286 216,072
Gulf Energy Development PCL, NVDR 399,840 594,242
Home Product Center PCL, NVDR 562,600 230,658
Indorama Ventures PCL, NVDR 366,300 364,718
Intouch Holdings PCL, NVDR 82,800 181,858
Kasikornbank PCL, NVDR 83,500 305,659
Krung Thai Bank PCL, NVDR 501,400 264,300
Krungthai Card PCL, NVDR 147,000 227,081
Land & Houses PCL, NVDR 592,500 170,042
Minor International PCL, NVDR 423,529 390,692
Muangthai Capital PCL, NVDR 93,200 92,797
Osotspa PCL, NVDR 116,000 100,212
PTT Exploration & Production PCL, NVDR 322,400 1,397,326
PTT Global Chemical PCL, NVDR 263,200 319,871
PTT Oil & Retail Business PCL, NVDR 305,700 198,742
PTT PCL, NVDR 1,492,400 1,354,840
SCB X PCL, NVDR 118,200 358,260
SCG Packaging PCL, NVDR 120,100 154,752
Thai Beverage PCL 1,183,100 567,540
Thai Oil PCL, NVDR 202,461 275,699
The Siam Cement PCL, NVDR 43,000 395,402
TMBThanachart Bank PCL, NVDR 3,228,385 137,086
Turkey - 0.5% 3,532,189
Akbank TAS 443,405 365,928
Arcelik AS (A) 2,866 14,272
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
Turkey (continued)  
Aselsan Elektronik Sanayi Ve Ticaret AS 41,050 $94,392
BIM Birlesik Magazalar AS 64,696 519,611
Enka Insaat ve Sanayi AS 201,547 283,331
Eregli Demir ve Celik Fabrikalari TAS (A) 154,933 264,007
Ford Otomotiv Sanayi AS 9,256 255,765
Hektas Ticaret TAS (A) 12,558 17,396
KOC Holding AS 131,195 510,324
Koza Altin Isletmeleri AS 17,616 17,101
Oyak Cimento Fabrikalari AS (A) 9,888 15,354
Tofas Turk Otomobil Fabrikasi AS 1,936 19,113
Turk Hava Yollari AO (A) 30,067 197,579
Turkcell Iletisim Hizmetleri AS 163,650 278,525
Turkiye Is Bankasi AS, Class C 431,626 240,356
Turkiye Petrol Rafinerileri AS 83,251 283,807
Turkiye Sise ve Cam Fabrikalari AS 38,038 72,093
Yapi ve Kredi Bankasi AS 170,937 83,235
United Kingdom - 0.0% 96,271
Pepco Group NV (A) 10,017 96,271
United States - 0.2% 1,183,014
BeiGene, Ltd., ADR (A) 4,640 1,183,014
PREFERRED SECURITIES - 1.6% $11,295,706
(Cost $14,797,666)    
Brazil - 1.5% 10,449,073
Banco Bradesco SA 602,447 1,667,828
Centrais Eletricas Brasileiras SA, B Shares 38,660 281,362
Cia Energetica de Minas Gerais 211,659 522,500
Cia Paranaense de Energia, B Shares 166,800 267,395
Gerdau SA 256,580 1,291,401
Itau Unibanco Holding SA 485,750 2,516,693
Petroleo Brasileiro SA 805,900 3,817,790
Raizen SA 131,900 84,104
Chile - 0.1% 846,633
Sociedad Quimica y Minera de Chile SA, B Shares 12,428 846,633
RIGHTS - 0.0% $1,365
(Cost $0)    
Localiza Rent a Car SA (Expiration Date: 5-12-23) (A)(E) 398 1,365
SHORT-TERM INVESTMENTS - 0.2% $1,479,686
(Cost $1,479,701)    
Short-term funds - 0.2% 1,479,686
John Hancock Collateral Trust, 4.9058% (F)(G) 32,329 323,200
30 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR EMERGING MARKETS ETF (continued)
  Shares or
Principal
Amount 		Value
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.7429% (F) 1,156,486 1,156,486
Total investments (Multifactor Emerging Markets ETF) (Cost $689,449,482) - 100.1% $703,854,174
Other assets and liabilities, net - (0.1%) (485,163)
Total net assets - 100.0% $703,369,011
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
ADR American Depositary Receipt
GDR Global Depositary Receipt
NVDR Non-Voting Depositary Receipt
(A) Non-income producing security.
(B) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(C) All or a portion of this security is on loan as of 4-30-23.
(D) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(E) Strike price and/or expiration date not available.
(F) The rate shown is the annualized seven-day yield as of 4-30-23.
(G) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
MULTIFACTOR LARGE CAP ETF
As of 4-30-23
  Shares or
Principal
Amount 		Value
COMMON STOCKS – 99.9%   $717,786,192
(Cost $643,647,713)    
Communication services – 6.3% 45,650,323
Diversified telecommunication services – 0.7%  
AT&T, Inc. 112,184 1,982,291
Iridium Communications, Inc. 415 26,340
Verizon Communications, Inc. 76,006 2,951,313
Entertainment – 1.2%  
Activision Blizzard, Inc. (A) 15,054 1,169,846
Electronic Arts, Inc. 8,024 1,021,295
Endeavor Group Holdings, Inc., Class A (A) 1,716 44,238
Liberty Media Corp.-Liberty Formula One, Series A (A) 855 55,387
Liberty Media Corp.-Liberty Formula One, Series C (A) 6,917 499,338
Live Nation Entertainment, Inc. (A) 4,427 300,062
Netflix, Inc. (A) 4,708 1,553,310
ROBLOX Corp., Class A (A) 1,006 35,814
Roku, Inc. (A) 1,661 93,365
Spotify Technology SA (A) 1,200 160,320
Take-Two Interactive Software, Inc. (A) 4,381 544,514
The Walt Disney Company (A) 22,632 2,319,780
Warner Brothers Discovery, Inc. (A) 56,748 772,340
Warner Music Group Corp., Class A 2,932 89,338
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Communication services (continued)  
Interactive media and services – 3.0%  
Alphabet, Inc., Class A (A) 107,300 $11,517,582
Alphabet, Inc., Class C (A) 21,377 2,313,419
Match Group, Inc. (A) 5,805 214,205
Meta Platforms, Inc., Class A (A) 31,681 7,613,578
Pinterest, Inc., Class A (A) 7,221 166,083
Snap, Inc., Class A (A) 10,367 90,297
ZoomInfo Technologies, Inc. (A) 3,162 69,279
Media – 1.2%  
Charter Communications, Inc., Class A (A) 1,858 685,045
Comcast Corp., Class A 78,260 3,237,616
Fox Corp., Class A 12,023 399,885
Fox Corp., Class B 4,771 145,706
Liberty Broadband Corp., Series A (A) 480 40,574
Liberty Broadband Corp., Series C (A) 6,560 556,157
Liberty Media Corp.-Liberty SiriusXM, Series A (A) 4,879 137,100
Liberty Media Corp.-Liberty SiriusXM, Series C (A) 3,676 102,707
News Corp., Class A 13,636 240,130
News Corp., Class B 4,114 73,024
Nexstar Media Group, Inc. 869 150,728
Omnicom Group, Inc. 11,102 1,005,508
Paramount Global, Class A 239 6,324
Paramount Global, Class B 16,346 381,352
Sirius XM Holdings, Inc. (B) 28,861 109,672
The Interpublic Group of Companies, Inc. 22,232 794,349
The Trade Desk, Inc., Class A (A) 9,922 638,381
Wireless telecommunication services – 0.2%  
T-Mobile US, Inc. (A) 9,331 1,342,731
Consumer discretionary – 9.8% 70,270,008
Automobile components – 0.3%  
Aptiv PLC (A) 7,482 769,599
Autoliv, Inc. 3,817 327,537
BorgWarner, Inc. 9,675 465,658
Gentex Corp. 9,495 261,967
Lear Corp. 3,293 420,384
Automobiles – 0.7%  
Ford Motor Company 74,438 884,323
General Motors Company 26,541 876,915
Harley-Davidson, Inc. 786 29,161
Rivian Automotive, Inc., Class A (A)(B) 6,624 84,920
Tesla, Inc. (A) 19,840 3,259,910
Broadline retail – 1.8%  
Amazon.com, Inc. (A) 112,772 11,891,807
eBay, Inc. 21,681 1,006,649
Etsy, Inc. (A) 3,047 307,838
Distributors – 0.3%  
Genuine Parts Company 6,913 1,163,527
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 31
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Distributors (continued)  
LKQ Corp. 10,476 $604,779
Pool Corp. 1,384 486,227
Diversified consumer services – 0.1%  
ADT, Inc. 2,129 14,264
Service Corp. International 8,726 612,478
Hotels, restaurants and leisure – 2.3%  
Airbnb, Inc., Class A (A) 761 91,069
Aramark 10,378 360,117
Booking Holdings, Inc. (A) 505 1,356,587
Caesars Entertainment, Inc. (A) 5,018 227,265
Carnival Corp. (A)(B) 19,278 177,550
Chipotle Mexican Grill, Inc. (A) 637 1,317,074
Choice Hotels International, Inc. 222 28,309
Churchill Downs, Inc. 951 278,196
Darden Restaurants, Inc. 6,203 942,422
Domino’s Pizza, Inc. 1,207 383,186
DoorDash, Inc., Class A (A) 761 46,566
DraftKings, Inc., Class A (A) 7,252 158,891
Expedia Group, Inc. (A) 4,530 425,639
Hilton Worldwide Holdings, Inc. 7,936 1,142,943
Hyatt Hotels Corp., Class A (A) 1,481 169,278
Las Vegas Sands Corp. (A) 7,109 453,910
Marriott International, Inc., Class A 6,184 1,047,199
McDonald’s Corp. 9,648 2,853,396
MGM Resorts International 16,540 742,977
Planet Fitness, Inc., Class A (A) 295 24,526
Royal Caribbean Cruises, Ltd. (A) 7,039 460,562
Starbucks Corp. 15,998 1,828,411
Texas Roadhouse, Inc. 438 48,452
Vail Resorts, Inc. 1,613 387,959
Wynn Resorts, Ltd. (A) 3,043 347,754
Yum! Brands, Inc. 7,881 1,107,911
Household durables – 0.8%  
D.R. Horton, Inc. 15,210 1,670,362
Garmin, Ltd. 5,611 550,832
Lennar Corp., A Shares 10,463 1,180,331
Lennar Corp., B Shares 499 48,812
Mohawk Industries, Inc. (A) 2,552 270,257
NVR, Inc. (A) 195 1,138,800
PulteGroup, Inc. 11,132 747,514
Tempur Sealy International, Inc. 611 22,894
Whirlpool Corp. 2,991 417,514
Leisure products – 0.1%  
Hasbro, Inc. 5,743 340,100
Mattel, Inc. (A) 9,224 166,032
Polaris, Inc. 950 103,218
Specialty retail – 2.6%  
Advance Auto Parts, Inc. 2,757 346,086
AutoNation, Inc. (A) 781 102,858
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Specialty retail (continued)  
AutoZone, Inc. (A) 398 $1,059,997
Bath & Body Works, Inc. 5,748 201,755
Best Buy Company, Inc. 14,192 1,057,588
Burlington Stores, Inc. (A) 2,067 398,538
CarMax, Inc. (A) 7,651 535,800
Chewy, Inc., Class A (A) 1,265 39,228
Dick’s Sporting Goods, Inc. 2,309 334,828
Five Below, Inc. (A) 1,551 306,105
Floor & Decor Holdings, Inc., Class A (A) 3,065 304,477
Lithia Motors, Inc. 1,045 230,830
Lowe’s Companies, Inc. 8,631 1,793,781
O’Reilly Automotive, Inc. (A) 1,324 1,214,518
Penske Automotive Group, Inc. 358 49,612
RH (A)(B) 496 126,544
Ross Stores, Inc. 13,080 1,396,028
The Home Depot, Inc. 12,459 3,744,428
The TJX Companies, Inc. 19,875 1,566,548
Tractor Supply Company 6,669 1,589,890
Ulta Beauty, Inc. (A) 2,664 1,469,010
Williams-Sonoma, Inc. 3,406 412,262
Textiles, apparel and luxury goods – 0.8%  
Capri Holdings, Ltd. (A) 2,512 104,248
Crocs, Inc. (A) 549 67,895
Deckers Outdoor Corp. (A) 1,103 528,712
Levi Strauss & Company, Class A (B) 1,822 26,346
Lululemon Athletica, Inc. (A) 3,979 1,511,741
NIKE, Inc., Class B 18,833 2,386,518
Ralph Lauren Corp. 1,098 126,039
Skechers USA, Inc., Class A (A) 944 50,211
Tapestry, Inc. 9,850 401,979
VF Corp. 10,755 252,850
Consumer staples – 7.2% 51,513,150
Beverages – 1.4%  
Brown-Forman Corp., Class A 1,953 128,664
Brown-Forman Corp., Class B 7,507 488,631
Celsius Holdings, Inc. (A) 369 35,265
Constellation Brands, Inc., Class A 4,409 1,011,733
Keurig Dr. Pepper, Inc. 12,678 414,571
Molson Coors Beverage Company, Class B 7,086 421,475
Monster Beverage Corp. (A) 15,732 880,992
PepsiCo, Inc. 19,648 3,750,607
The Coca-Cola Company 50,382 3,232,005
Consumer staples distribution and retail – 2.3%  
Albertsons Companies, Inc., Class A 4,515 94,364
BJ’s Wholesale Club Holdings, Inc. (A) 2,857 218,189
Casey’s General Stores, Inc. 609 139,351
Costco Wholesale Corp. 6,479 3,260,362
Dollar General Corp. 6,683 1,480,017
Dollar Tree, Inc. (A) 9,776 1,502,669
32 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer staples (continued)  
Consumer staples distribution and retail (continued)  
Performance Food Group Company (A) 3,215 $201,548
Sysco Corp. 13,378 1,026,628
Target Corp. 10,551 1,664,420
The Kroger Company 42,600 2,071,638
U.S. Foods Holding Corp. (A) 8,163 313,459
Walgreens Boots Alliance, Inc. 19,605 691,076
Walmart, Inc. 24,496 3,698,161
Food products – 1.7%  
Archer-Daniels-Midland Company 14,997 1,170,966
Bunge, Ltd. 6,256 585,562
Campbell Soup Company 9,309 505,479
Conagra Brands, Inc. 18,388 698,008
Darling Ingredients, Inc. (A) 4,819 287,068
General Mills, Inc. 17,432 1,544,998
Hormel Foods Corp. 9,712 392,753
Kellogg Company 10,952 764,121
Lamb Weston Holdings, Inc. 5,479 612,607
McCormick & Company, Inc. 10,225 898,266
Mondelez International, Inc., Class A 23,560 1,807,523
The Hershey Company 3,599 982,743
The J.M. Smucker Company 4,091 631,691
The Kraft Heinz Company 13,239 519,896
Tyson Foods, Inc., Class A 10,512 656,895
Household products – 1.3%  
Church & Dwight Company, Inc. 9,044 878,353
Colgate-Palmolive Company 13,931 1,111,694
Kimberly-Clark Corp. 6,126 887,596
The Clorox Company 5,455 903,457
The Procter & Gamble Company 33,702 5,270,319
Personal care products – 0.1%  
Coty, Inc., Class A (A) 2,722 32,310
The Estee Lauder Companies, Inc., Class A 3,075 758,664
Tobacco – 0.4%  
Altria Group, Inc. 25,539 1,213,358
Philip Morris International, Inc. 16,735 1,672,998
Energy – 4.9% 35,001,246
Energy equipment and services – 0.4%  
Baker Hughes Company 24,637 720,386
Halliburton Company 24,551 804,045
NOV, Inc. 5,254 88,005
Schlumberger, Ltd. 21,723 1,072,030
TechnipFMC PLC (A) 1,729 23,670
Oil, gas and consumable fuels – 4.5%  
Antero Resources Corp. (A) 2,715 62,418
APA Corp. 5,691 209,713
Cheniere Energy, Inc. 6,312 965,736
Chesapeake Energy Corp. 3,144 259,946
Chevron Corp. 27,324 4,606,280
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Energy (continued)  
Oil, gas and consumable fuels (continued)  
ConocoPhillips 24,590 $2,530,065
Coterra Energy, Inc. 19,524 499,814
Devon Energy Corp. 13,772 735,838
Diamondback Energy, Inc. 7,289 1,036,496
EOG Resources, Inc. 15,171 1,812,479
EQT Corp. 6,589 229,561
Exxon Mobil Corp. 57,804 6,840,525
Hess Corp. 9,980 1,447,699
HF Sinclair Corp. 2,123 93,646
Kinder Morgan, Inc. 55,765 956,370
Marathon Oil Corp. 28,959 699,649
Marathon Petroleum Corp. 15,223 1,857,206
Matador Resources Company 1,171 57,414
New Fortress Energy, Inc. 255 7,724
Occidental Petroleum Corp. 19,646 1,208,818
ONEOK, Inc. 14,668 959,434
Ovintiv, Inc. 6,311 227,701
Phillips 66 10,480 1,037,520
Pioneer Natural Resources Company 4,519 983,108
Targa Resources Corp. 5,131 387,544
Texas Pacific Land Corp. 164 242,335
The Williams Companies, Inc. 19,302 584,079
Valero Energy Corp. 15,296 1,753,992
Financials – 13.9% 100,174,155
Banks – 3.1%  
Bank of America Corp. 98,646 2,888,355
BOK Financial Corp. 172 14,426
Citigroup, Inc. 35,881 1,688,919
Citizens Financial Group, Inc. 19,513 603,732
Comerica, Inc. 6,877 298,255
Commerce Bancshares, Inc. 4,409 246,243
Cullen/Frost Bankers, Inc. 917 101,099
East West Bancorp, Inc. 5,688 294,013
Fifth Third Bancorp 34,376 900,651
First Citizens BancShares, Inc., Class A 255 256,831
First Horizon Corp. 16,066 281,958
First Republic Bank (B) 5,866 20,590
Huntington Bancshares, Inc. 51,618 578,122
JPMorgan Chase & Co. 43,965 6,077,722
KeyCorp 45,413 511,350
M&T Bank Corp. 5,944 747,755
Regions Financial Corp. 52,154 952,332
The PNC Financial Services Group, Inc. 8,394 1,093,319
Truist Financial Corp. 28,615 932,277
U.S. Bancorp 26,916 922,680
Webster Financial Corp. 3,614 134,802
Wells Fargo & Company 65,949 2,621,473
Western Alliance Bancorp 2,749 102,043
Zions Bancorp NA 7,760 216,194
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 33
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Capital markets – 3.3%  
Ameriprise Financial, Inc. 5,621 $1,715,080
Ares Management Corp., Class A 3,712 325,134
BlackRock, Inc. 1,632 1,095,398
CME Group, Inc. 4,455 827,605
FactSet Research Systems, Inc. 1,464 602,714
Franklin Resources, Inc. 12,600 338,688
Interactive Brokers Group, Inc., Class A 305 23,744
Intercontinental Exchange, Inc. 10,155 1,106,184
Invesco, Ltd. 10,071 172,516
Jefferies Financial Group, Inc. 4,277 136,992
KKR & Company, Inc. 9,666 512,975
LPL Financial Holdings, Inc. 3,073 641,765
MarketAxess Holdings, Inc. 1,233 392,550
Moody’s Corp. 3,624 1,134,747
Morgan Stanley 26,185 2,355,864
Morningstar, Inc. 818 145,858
MSCI, Inc. 1,669 805,209
Nasdaq, Inc. 13,479 746,332
Northern Trust Corp. 8,860 692,498
Raymond James Financial, Inc. 8,102 733,474
Robinhood Markets, Inc., Class A (A) 6,514 57,649
S&P Global, Inc. 4,576 1,659,166
SEI Investments Company 6,306 371,486
State Street Corp. 13,486 974,498
Stifel Financial Corp. 1,587 95,172
T. Rowe Price Group, Inc. 6,634 745,197
The Bank of New York Mellon Corp. 26,845 1,143,329
The Blackstone Group, Inc. 7,847 700,973
The Carlyle Group, Inc. 1,697 51,470
The Charles Schwab Corp. 21,922 1,145,205
The Goldman Sachs Group, Inc. 5,773 1,982,679
TPG, Inc. 1,087 31,490
Tradeweb Markets, Inc., Class A 2,056 144,763
Consumer finance – 0.8%  
Ally Financial, Inc. 23,580 622,040
American Express Company 10,710 1,727,951
Capital One Financial Corp. 13,550 1,318,415
Discover Financial Services 13,929 1,441,234
Synchrony Financial 25,678 757,758
Financial services – 3.3%  
Apollo Global Management, Inc. 10,157 643,852
Berkshire Hathaway, Inc., Class B (A) 21,728 7,138,734
Block, Inc. (A) 3,293 200,181
Equitable Holdings, Inc. 17,094 444,273
Fidelity National Information Services, Inc. 9,333 548,034
Fiserv, Inc. (A) 9,032 1,102,988
FleetCor Technologies, Inc. (A) 3,266 698,663
Global Payments, Inc. 6,771 763,159
Jack Henry & Associates, Inc. 3,016 492,633
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Financial services (continued)  
Mastercard, Inc., Class A 12,205 $4,638,266
PayPal Holdings, Inc. (A) 13,541 1,029,116
Rocket Companies, Inc., Class A (A) 1,014 9,035
Toast, Inc., Class A (A) 830 15,106
Visa, Inc., Class A 23,064 5,367,685
Voya Financial, Inc. 826 63,172
WEX, Inc. (A) 1,436 254,675
Insurance – 3.4%  
Aflac, Inc. 16,756 1,170,407
American Financial Group, Inc. 3,255 399,486
American International Group, Inc. 27,444 1,455,630
Aon PLC, Class A 4,193 1,363,480
Arch Capital Group, Ltd. (A) 14,232 1,068,396
Arthur J. Gallagher & Company 7,227 1,503,650
Assurant, Inc. 1,801 221,757
Brown & Brown, Inc. 8,794 566,246
Chubb, Ltd. 6,278 1,265,394
Cincinnati Financial Corp. 5,989 637,469
CNA Financial Corp. 1,460 56,809
Erie Indemnity Company, Class A 855 185,817
Everest Re Group, Ltd. 1,661 627,858
Fidelity National Financial, Inc. 13,058 463,428
Globe Life, Inc. 4,679 507,765
Kinsale Capital Group, Inc. 98 32,018
Loews Corp. 11,437 658,428
Markel Corp. (A) 455 622,681
Marsh & McLennan Companies, Inc. 8,085 1,456,836
MetLife, Inc. 13,118 804,527
Old Republic International Corp. 7,001 176,915
Primerica, Inc. 234 42,707
Principal Financial Group, Inc. 13,285 992,257
Prudential Financial, Inc. 11,967 1,041,129
Reinsurance Group of America, Inc. 2,832 403,050
RenaissanceRe Holdings, Ltd. 173 37,266
The Allstate Corp. 11,122 1,287,483
The Hartford Financial Services Group, Inc. 19,609 1,392,043
The Progressive Corp. 7,181 979,488
The Travelers Companies, Inc. 8,960 1,623,014
Unum Group 3,367 142,087
W.R. Berkley Corp. 9,582 564,571
Willis Towers Watson PLC 4,549 1,053,548
Health care – 13.5% 97,267,610
Biotechnology – 2.2%  
AbbVie, Inc. 22,247 3,361,967
Alnylam Pharmaceuticals, Inc. (A) 2,352 468,518
Amgen, Inc. 9,406 2,254,994
Apellis Pharmaceuticals, Inc. (A) 223 18,605
Biogen, Inc. (A) 4,480 1,362,950
BioMarin Pharmaceutical, Inc. (A) 5,691 546,564
34 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care (continued)  
Biotechnology (continued)  
Exact Sciences Corp. (A) 3,131 $200,603
Gilead Sciences, Inc. 25,453 2,092,491
Horizon Therapeutics PLC (A) 5,894 655,177
Incyte Corp. (A) 4,797 356,945
Karuna Therapeutics, Inc. (A) 222 44,054
Moderna, Inc. (A) 5,538 735,945
Neurocrine Biosciences, Inc. (A) 2,129 215,114
Regeneron Pharmaceuticals, Inc. (A) 2,000 1,603,580
Sarepta Therapeutics, Inc. (A) 624 76,608
Seagen, Inc. (A) 2,834 566,800
United Therapeutics Corp. (A) 853 196,301
Vertex Pharmaceuticals, Inc. (A) 4,309 1,468,206
Health care equipment and supplies – 2.8%  
Abbott Laboratories 24,990 2,760,645
ABIOMED, Inc. (A)(C) 1,170 18,158
Align Technology, Inc. (A) 1,049 341,240
Baxter International, Inc. 12,719 606,442
Becton, Dickinson and Company 5,056 1,336,351
Boston Scientific Corp. (A) 23,017 1,199,646
Dentsply Sirona, Inc. 8,126 340,723
DexCom, Inc. (A) 6,095 739,567
Edwards Lifesciences Corp. (A) 11,456 1,007,899
GE HealthCare Technologies, Inc. (A) 6,028 490,318
Hologic, Inc. (A) 13,069 1,124,065
IDEXX Laboratories, Inc. (A) 2,353 1,158,052
Inspire Medical Systems, Inc. (A) 69 18,466
Insulet Corp. (A) 1,374 436,987
Intuitive Surgical, Inc. (A) 4,105 1,236,508
Masimo Corp. (A) 1,300 245,882
Medtronic PLC 17,313 1,574,617
Novocure, Ltd. (A) 1,652 108,867
Penumbra, Inc. (A) 98 27,844
ResMed, Inc. 5,402 1,301,666
Shockwave Medical, Inc. (A) 313 90,820
STERIS PLC 3,177 599,023
Stryker Corp. 4,672 1,399,965
Teleflex, Inc. 1,458 397,334
The Cooper Companies, Inc. 1,792 683,558
Zimmer Biomet Holdings, Inc. 7,484 1,036,085
Health care providers and services – 3.2%  
Acadia Healthcare Company, Inc. (A) 811 58,627
agilon health, Inc. (A)(B) 2,551 61,913
AmerisourceBergen Corp. 6,116 1,020,455
Cardinal Health, Inc. 11,033 905,809
Centene Corp. (A) 16,033 1,105,155
Chemed Corp. 193 106,391
CVS Health Corp. 23,008 1,686,716
DaVita, Inc. (A) 2,758 249,213
Elevance Health, Inc. 4,527 2,121,579
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care (continued)  
Health care providers and services (continued)  
HCA Healthcare, Inc. 4,436 $1,274,596
Henry Schein, Inc. (A) 7,164 578,923
Humana, Inc. 3,508 1,860,959
Laboratory Corp. of America Holdings 5,343 1,211,312
McKesson Corp. 2,883 1,050,104
Molina Healthcare, Inc. (A) 2,533 754,555
Oak Street Health, Inc. (A) 417 16,250
Quest Diagnostics, Inc. 7,344 1,019,421
The Cigna Corp. 5,461 1,383,217
UnitedHealth Group, Inc. 11,650 5,732,849
Universal Health Services, Inc., Class B 4,023 604,858
Health care technology – 0.1%  
Doximity, Inc., Class A (A)(B) 500 18,375
Veeva Systems, Inc., Class A (A) 2,261 404,900
Life sciences tools and services – 1.9%  
Agilent Technologies, Inc. 7,615 1,031,299
Avantor, Inc. (A) 17,063 332,387
Bio-Rad Laboratories, Inc., Class A (A) 762 343,502
Bio-Techne Corp. 4,133 330,144
Bruker Corp. 3,551 280,991
Charles River Laboratories International, Inc. (A) 1,660 315,599
Danaher Corp. 8,894 2,107,078
Illumina, Inc. (A) 2,640 542,678
IQVIA Holdings, Inc. (A) 5,977 1,125,051
Mettler-Toledo International, Inc. (A) 1,046 1,560,109
PerkinElmer, Inc. 4,840 631,572
Repligen Corp. (A) 1,089 165,125
Thermo Fisher Scientific, Inc. 5,713 3,170,144
Waters Corp. (A) 2,542 763,515
West Pharmaceutical Services, Inc. 2,369 855,778
Pharmaceuticals – 3.3%  
Bristol-Myers Squibb Company 35,831 2,392,436
Catalent, Inc. (A) 5,687 285,032
Eli Lilly & Company 11,509 4,555,953
Jazz Pharmaceuticals PLC (A) 2,215 311,141
Johnson & Johnson 38,416 6,288,699
Merck & Company, Inc. 37,980 4,385,551
Organon & Company 5,983 147,361
Pfizer, Inc. 93,096 3,620,503
Royalty Pharma PLC, Class A 8,216 288,792
Viatris, Inc. 35,132 327,782
Zoetis, Inc. 7,834 1,377,061
Industrials – 11.7% 84,232,478
Aerospace and defense – 1.7%  
Axon Enterprise, Inc. (A) 986 207,760
General Dynamics Corp. 4,723 1,031,220
HEICO Corp. 1,116 188,202
HEICO Corp., Class A 2,039 273,695
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 35
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Aerospace and defense (continued)  
Howmet Aerospace, Inc. 15,392 $681,712
Huntington Ingalls Industries, Inc. 1,845 372,063
L3Harris Technologies, Inc. 4,546 887,152
Lockheed Martin Corp. 3,701 1,718,929
Northrop Grumman Corp. 2,422 1,117,196
Raytheon Technologies Corp. 25,158 2,513,284
Textron, Inc. 10,945 732,658
The Boeing Company (A) 6,533 1,350,894
TransDigm Group, Inc. 1,400 1,071,000
Air freight and logistics – 0.6%  
C.H. Robinson Worldwide, Inc. 6,102 615,509
Expeditors International of Washington, Inc. 7,553 859,834
FedEx Corp. 5,413 1,232,973
United Parcel Service, Inc., Class B 9,342 1,679,785
Building products – 1.1%  
A.O. Smith Corp. 5,076 346,640
Advanced Drainage Systems, Inc. 1,532 131,323
Allegion PLC 4,826 533,176
Builders FirstSource, Inc. (A) 6,832 647,469
Carlisle Companies, Inc. 2,608 562,937
Carrier Global Corp. 32,375 1,353,923
Fortune Brands Innovations, Inc. 6,021 389,498
Johnson Controls International PLC 18,977 1,135,584
Lennox International, Inc. 1,337 376,914
Masco Corp. 9,609 514,178
Owens Corning 5,334 569,725
Trane Technologies PLC 6,878 1,278,001
Commercial services and supplies – 0.8%  
Cintas Corp. 2,095 954,838
Clean Harbors, Inc. (A) 428 62,128
Copart, Inc. (A) 17,010 1,344,641
Republic Services, Inc. 6,411 927,159
Rollins, Inc. 8,833 373,194
Tetra Tech, Inc. 888 122,873
Waste Management, Inc. 11,233 1,865,240
Construction and engineering – 0.2%  
AECOM 4,700 390,335
EMCOR Group, Inc. 253 43,263
MasTec, Inc. (A) 245 21,758
Quanta Services, Inc. 4,625 784,585
Valmont Industries, Inc. 118 34,286
WillScot Mobile Mini Holdings Corp. (A) 4,141 188,001
Electrical equipment – 0.9%  
AMETEK, Inc. 8,944 1,233,646
Eaton Corp. PLC 9,383 1,568,087
Emerson Electric Company 13,487 1,122,928
Generac Holdings, Inc. (A) 1,398 142,904
Hubbell, Inc. 2,112 568,804
nVent Electric PLC 718 30,106
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Electrical equipment (continued)  
Plug Power, Inc. (A)(B) 11,498 $103,827
Regal Rexnord Corp. 1,194 155,411
Rockwell Automation, Inc. 4,916 1,393,244
Sensata Technologies Holding PLC 6,625 287,856
Ground transportation – 1.1%  
Avis Budget Group, Inc. (A) 415 73,318
CSX Corp. 47,867 1,466,645
J.B. Hunt Transport Services, Inc. 4,784 838,587
Knight-Swift Transportation Holdings, Inc. 5,119 288,302
Norfolk Southern Corp. 6,974 1,415,931
Old Dominion Freight Line, Inc. 3,725 1,193,453
Saia, Inc. (A) 156 46,452
Uber Technologies, Inc. (A) 16,823 522,354
U-Haul Holding Company (B) 377 23,020
U-Haul Holding Company, Series N 3,471 187,781
Union Pacific Corp. 10,705 2,094,969
Industrial conglomerates – 0.6%  
3M Company 9,572 1,016,738
General Electric Company 12,849 1,271,666
Honeywell International, Inc. 10,532 2,104,715
Machinery – 2.7%  
AGCO Corp. 1,718 212,929
Caterpillar, Inc. 9,690 2,120,172
Cummins, Inc. 6,035 1,418,466
Deere & Company 5,316 2,009,554
Donaldson Company, Inc. 699 44,421
Dover Corp. 7,056 1,031,305
Fortive Corp. 11,712 738,910
Graco, Inc. 5,503 436,333
IDEX Corp. 2,860 590,075
Illinois Tool Works, Inc. 6,865 1,660,918
Ingersoll Rand, Inc. 13,249 755,458
ITT, Inc. 452 38,167
Lincoln Electric Holdings, Inc. 2,311 387,786
Nordson Corp. 1,767 382,220
Otis Worldwide Corp. 11,134 949,730
PACCAR, Inc. 24,939 1,862,694
Parker-Hannifin Corp. 3,846 1,249,488
Pentair PLC 6,376 370,318
RBC Bearings, Inc. (A) 248 56,298
Snap-on, Inc. 2,371 615,061
Stanley Black & Decker, Inc. 6,690 577,615
The Middleby Corp. (A) 1,535 216,251
The Toro Company 3,815 397,752
Wabtec Corp. 5,988 584,848
Xylem, Inc. 6,090 632,386
Passenger airlines – 0.1%  
American Airlines Group, Inc. (A)(B) 5,741 78,307
Delta Air Lines, Inc. (A) 5,920 203,115
36 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Passenger airlines (continued)  
Southwest Airlines Company 6,916 $209,486
United Airlines Holdings, Inc. (A) 3,856 168,893
Professional services – 1.2%  
Automatic Data Processing, Inc. 6,797 1,495,340
Booz Allen Hamilton Holding Corp. 5,696 545,221
Broadridge Financial Solutions, Inc. 4,372 635,733
CACI International, Inc., Class A (A) 121 37,912
Clarivate PLC (A) 6,938 61,471
Concentrix Corp. 838 80,875
CoStar Group, Inc. (A) 10,332 795,047
Equifax, Inc. 4,671 973,343
Genpact, Ltd. 6,690 298,040
Jacobs Solutions, Inc. 716 82,669
KBR, Inc. 1,653 93,775
Leidos Holdings, Inc. 5,447 507,987
Paychex, Inc. 8,152 895,579
Robert Half International, Inc. 5,046 368,358
SS&C Technologies Holdings, Inc. 8,517 498,585
TransUnion 6,800 467,908
Verisk Analytics, Inc. 5,671 1,100,798
Trading companies and distributors – 0.7%  
Fastenal Company 21,760 1,171,558
United Rentals, Inc. 4,265 1,540,134
W.W. Grainger, Inc. 2,182 1,517,734
Watsco, Inc. 1,106 383,096
WESCO International, Inc. 320 46,080
Information technology – 21.1% 151,333,863
Communications equipment – 0.9%  
Arista Networks, Inc. (A) 6,966 1,115,675
Ciena Corp. (A) 5,064 233,147
Cisco Systems, Inc. 67,216 3,175,956
F5, Inc. (A) 2,577 346,246
Juniper Networks, Inc. 15,758 475,104
Motorola Solutions, Inc. 3,569 1,040,007
Ubiquiti, Inc. (B) 190 44,185
Electronic equipment, instruments and components – 1.2%  
Amphenol Corp., Class A 18,923 1,428,119
Arrow Electronics, Inc. (A) 4,310 493,193
CDW Corp. 5,332 904,254
Cognex Corp. 4,968 236,924
Corning, Inc. 34,625 1,150,243
Flex, Ltd. (A) 29,487 606,548
Jabil, Inc. 4,755 371,603
Keysight Technologies, Inc. (A) 7,605 1,099,987
TD SYNNEX Corp. 548 48,794
TE Connectivity, Ltd. 9,194 1,125,070
Teledyne Technologies, Inc. (A) 1,433 593,835
Trimble, Inc. (A) 8,889 418,672
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Electronic equipment, instruments and
components (continued) 		 
Zebra Technologies Corp., Class A (A) 1,925 $554,458
IT services – 1.5%  
Accenture PLC, Class A 9,681 2,713,487
Akamai Technologies, Inc. (A) 7,002 573,954
Amdocs, Ltd. 6,698 611,193
Cloudflare, Inc., Class A (A) 3,694 173,803
Cognizant Technology Solutions Corp., Class A 16,407 979,662
EPAM Systems, Inc. (A) 1,585 447,667
Gartner, Inc. (A) 3,279 991,766
Globant SA (A) 676 106,044
GoDaddy, Inc., Class A (A) 4,389 332,160
IBM Corp. 16,520 2,088,293
MongoDB, Inc. (A) 951 228,202
Okta, Inc. (A) 2,206 151,177
Snowflake, Inc., Class A (A) 1,351 200,056
Twilio, Inc., Class A (A) 2,637 138,733
VeriSign, Inc. (A) 3,425 759,665
Semiconductors and semiconductor equipment – 5.2%  
Advanced Micro Devices, Inc. (A) 21,795 1,947,819
Allegro MicroSystems, Inc. (A) 330 11,804
Analog Devices, Inc. 9,301 1,673,064
Applied Materials, Inc. 17,283 1,953,497
Broadcom, Inc. 6,255 3,918,758
Enphase Energy, Inc. (A) 3,187 523,305
Entegris, Inc. 4,745 355,495
First Solar, Inc. (A) 3,084 563,077
GLOBALFOUNDRIES, Inc. (A)(B) 931 54,743
Intel Corp. 70,853 2,200,694
KLA Corp. 4,080 1,577,083
Lam Research Corp. 3,362 1,761,957
Lattice Semiconductor Corp. (A) 2,427 193,432
Marvell Technology, Inc. 24,118 952,179
Microchip Technology, Inc. 20,651 1,507,316
Micron Technology, Inc. 20,931 1,347,119
Monolithic Power Systems, Inc. 1,225 565,913
NVIDIA Corp. 24,662 6,843,458
NXP Semiconductors NV 3,849 630,235
ON Semiconductor Corp. (A) 17,545 1,262,538
Qorvo, Inc. (A) 4,447 409,480
Qualcomm, Inc. 19,005 2,219,784
Skyworks Solutions, Inc. 7,480 792,132
SolarEdge Technologies, Inc. (A) 1,418 405,023
Teradyne, Inc. 7,244 661,957
Texas Instruments, Inc. 15,463 2,585,414
Wolfspeed, Inc. (A)(B) 3,579 166,602
Software – 7.6%  
Adobe, Inc. (A) 5,192 1,960,292
ANSYS, Inc. (A) 3,037 953,375
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 37
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Software (continued)  
Aspen Technology, Inc. (A) 1,140 $201,780
Atlassian Corp., Class A (A) 1,741 257,076
Autodesk, Inc. (A) 3,510 683,713
Bentley Systems, Inc., Class B 1,902 80,949
BILL Holdings, Inc. (A) 1,695 130,193
Black Knight, Inc. (A) 4,917 268,665
Cadence Design Systems, Inc. (A) 5,934 1,242,876
Ceridian HCM Holding, Inc. (A) 3,793 240,780
Confluent, Inc., Class A (A) 882 19,404
Crowdstrike Holdings, Inc., Class A (A) 1,754 210,568
Datadog, Inc., Class A (A) 2,682 180,713
DocuSign, Inc. (A) 1,795 88,745
Dolby Laboratories, Inc., Class A 2,234 186,963
Dropbox, Inc., Class A (A) 7,308 148,645
Dynatrace, Inc. (A) 3,157 133,478
Fair Isaac Corp. (A) 878 639,140
Fortinet, Inc. (A) 14,263 899,282
Gen Digital, Inc. 22,443 396,568
Gitlab, Inc., Class A (A)(B) 338 10,262
HubSpot, Inc. (A) 945 397,798
Intuit, Inc. 4,038 1,792,670
Manhattan Associates, Inc. (A) 1,882 311,810
Microsoft Corp. 102,400 31,463,417
Oracle Corp. 21,460 2,032,691
Palantir Technologies, Inc., Class A (A) 5,360 41,540
Palo Alto Networks, Inc. (A) 4,303 785,125
Paycom Software, Inc. (A) 1,481 430,038
Paylocity Holding Corp. (A) 955 184,592
Procore Technologies, Inc. (A) 860 45,933
PTC, Inc. (A) 3,447 433,598
Qualtrics International, Inc., Class A (A) 1,034 18,540
Roper Technologies, Inc. 2,270 1,032,351
Salesforce, Inc. (A) 10,749 2,132,279
Samsara, Inc., Class A (A) 1,063 19,187
ServiceNow, Inc. (A) 1,950 895,869
Splunk, Inc. (A) 3,574 308,222
Synopsys, Inc. (A) 3,700 1,373,884
Tyler Technologies, Inc. (A) 1,401 531,021
UiPath, Inc., Class A (A) 2,310 32,525
Unity Software, Inc. (A) 1,974 53,239
VMware, Inc., Class A (A) 3,326 415,850
Workday, Inc., Class A (A) 2,633 490,107
Zoom Video Communications, Inc., Class A (A) 1,098 67,450
Zscaler, Inc. (A) 1,289 116,139
Technology hardware, storage and peripherals – 4.7%  
Apple, Inc. 178,139 30,226,626
Dell Technologies, Inc., Class C 6,710 291,818
Hewlett Packard Enterprise Company 46,049 659,422
HP, Inc. 34,646 1,029,333
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Technology hardware, storage and peripherals (continued)  
NetApp, Inc. 11,431 $718,896
Pure Storage, Inc., Class A (A) 2,807 64,084
Seagate Technology Holdings PLC 8,259 485,381
Western Digital Corp. (A) 13,856 477,201
Materials – 4.2% 30,262,132
Chemicals – 2.4%  
Air Products & Chemicals, Inc. 4,433 1,304,898
Albemarle Corp. 3,709 687,871
Celanese Corp. 5,760 611,942
CF Industries Holdings, Inc. 9,364 670,275
Corteva, Inc. 19,441 1,188,234
Dow, Inc. 26,075 1,418,480
DuPont de Nemours, Inc. 15,069 1,050,611
Eastman Chemical Company 6,112 515,058
Ecolab, Inc. 5,061 849,438
FMC Corp. 5,087 628,651
International Flavors & Fragrances, Inc. 7,493 726,521
Linde PLC 6,117 2,259,926
LyondellBasell Industries NV, Class A 12,011 1,136,361
Olin Corp. 4,014 222,376
PPG Industries, Inc. 9,083 1,273,982
RPM International, Inc. 5,407 443,536
The Mosaic Company 15,429 661,133
The Sherwin-Williams Company 5,739 1,363,242
Westlake Corp. 1,764 200,708
Construction materials – 0.2%  
Martin Marietta Materials, Inc. 2,319 842,261
Vulcan Materials Company 4,668 817,460
Containers and packaging – 0.7%  
Amcor PLC 56,169 616,174
AptarGroup, Inc. 2,492 295,327
Avery Dennison Corp. 3,201 558,510
Ball Corp. 13,355 710,219
Berry Global Group, Inc. 6,542 378,193
Crown Holdings, Inc. 5,570 477,795
Graphic Packaging Holding Company 5,377 132,597
International Paper Company 20,893 691,767
Packaging Corp. of America 4,578 619,220
Sealed Air Corp. 2,960 142,050
Westrock Company 10,279 307,650
Metals and mining – 0.9%  
Alcoa Corp. 5,193 192,868
Cleveland-Cliffs, Inc. (A) 15,862 243,958
Freeport-McMoRan, Inc. 32,433 1,229,535
MP Materials Corp. (A) 337 7,303
Newmont Corp. 21,111 1,000,661
Nucor Corp. 11,135 1,649,984
Reliance Steel & Aluminum Company 3,094 766,693
38 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Materials (continued)  
Metals and mining (continued)  
Royal Gold, Inc. 681 $90,192
Southern Copper Corp. 2,359 181,242
Steel Dynamics, Inc. 10,177 1,057,899
U.S. Steel Corp. 1,719 39,331
Real estate – 3.0% 21,395,691
Diversified REITs – 0.1%  
WP Carey, Inc. 4,607 341,839
Health care REITs – 0.2%  
Healthcare Realty Trust, Inc. 2,544 50,320
Healthpeak Properties, Inc. 13,716 301,341
Omega Healthcare Investors, Inc. 1,509 40,381
Ventas, Inc. 9,982 479,635
Welltower, Inc. 11,076 877,441
Hotel and resort REITs – 0.0%  
Host Hotels & Resorts, Inc. 19,857 321,088
Industrial REITs – 0.3%  
Americold Realty Trust, Inc. 4,856 143,689
EastGroup Properties, Inc. 551 91,775
First Industrial Realty Trust, Inc. 451 23,664
Prologis, Inc. 12,477 1,562,744
Rexford Industrial Realty, Inc. 2,798 156,044
Office REITs – 0.1%  
Alexandria Real Estate Equities, Inc. 3,633 451,146
Boston Properties, Inc. 4,110 219,310
Real estate management and development – 0.2%  
CBRE Group, Inc., Class A (A) 16,194 1,241,432
Jones Lang LaSalle, Inc. (A) 2,298 319,514
Zillow Group, Inc., Class A (A) 812 34,737
Zillow Group, Inc., Class C (A) 2,952 128,530
Residential REITs – 0.6%  
American Homes 4 Rent, Class A 7,215 239,971
AvalonBay Communities, Inc. 3,695 666,467
Camden Property Trust 2,602 286,350
Equity LifeStyle Properties, Inc. 4,521 311,497
Equity Residential 9,070 573,678
Essex Property Trust, Inc. 1,766 388,043
Invitation Homes, Inc. 14,131 471,551
Mid-America Apartment Communities, Inc. 3,036 466,937
Sun Communities, Inc. 2,917 405,259
UDR, Inc. 7,950 328,574
Retail REITs – 0.4%  
Brixmor Property Group, Inc. 1,008 21,501
Federal Realty Investment Trust 2,048 202,527
Kimco Realty Corp. 11,236 215,619
National Retail Properties, Inc. 4,394 191,139
Realty Income Corp. 12,456 782,735
Regency Centers Corp. 4,364 268,081
Simon Property Group, Inc. 7,130 807,972
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Real estate (continued)  
Specialized REITs – 1.1%  
American Tower Corp. 5,267 $1,076,522
Crown Castle, Inc. 5,649 695,335
CubeSmart 5,164 234,910
Digital Realty Trust, Inc. 6,194 614,135
Equinix, Inc. 1,205 872,516
Extra Space Storage, Inc. 3,429 521,345
Gaming and Leisure Properties, Inc. 6,186 321,672
Iron Mountain, Inc. 7,695 425,072
Lamar Advertising Company, Class A 2,248 237,569
Life Storage, Inc. 1,469 197,404
Public Storage 2,019 595,262
SBA Communications Corp. 2,610 680,923
VICI Properties, Inc. 21,407 726,554
Weyerhaeuser Company 26,210 783,941
Utilities – 4.3% 30,685,536
Electric utilities – 2.4%  
Alliant Energy Corp. 10,092 556,473
American Electric Power Company, Inc. 13,941 1,288,427
Avangrid, Inc. 2,187 88,049
Constellation Energy Corp. 5,838 451,861
Duke Energy Corp. 14,860 1,469,357
Edison International 17,410 1,281,376
Entergy Corp. 11,208 1,205,757
Evergy, Inc. 11,504 714,513
Eversource Energy 14,605 1,133,494
Exelon Corp. 37,993 1,612,423
FirstEnergy Corp. 21,943 873,331
NextEra Energy, Inc. 20,068 1,537,811
NRG Energy, Inc. 11,676 398,969
OGE Energy Corp. 3,865 145,092
PG&E Corp. (A) 39,787 680,756
Pinnacle West Capital Corp. 5,908 463,542
PPL Corp. 36,807 1,057,097
The Southern Company 18,592 1,367,442
Xcel Energy, Inc. 18,750 1,310,813
Gas utilities – 0.1%  
Atmos Energy Corp. 4,879 556,889
UGI Corp. 11,202 379,524
Independent power and renewable electricity producers –
0.2% 		 
Brookfield Renewable Corp., Class A 2,707 90,441
Clearway Energy, Inc., Class A 373 10,810
Clearway Energy, Inc., Class C 570 17,311
The AES Corp. 31,378 742,403
Vistra Corp. 15,041 358,878
Multi-utilities – 1.4%  
Ameren Corp. 11,905 1,059,188
CenterPoint Energy, Inc. 27,729 844,903
CMS Energy Corp. 11,909 741,454
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 39
Table of Contents
MULTIFACTOR LARGE CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Utilities (continued)  
Multi-utilities (continued)  
Consolidated Edison, Inc. 16,081 $1,583,496
Dominion Energy, Inc. 11,336 647,739
DTE Energy Company 8,653 972,684
NiSource, Inc. 20,669 588,240
Public Service Enterprise Group, Inc. 20,407 1,289,722
Sempra Energy 6,071 943,980
WEC Energy Group, Inc. 11,184 1,075,565
Water utilities – 0.2%  
American Water Works Company, Inc. 5,836 865,187
Essential Utilities, Inc. 6,570 280,539
SHORT-TERM INVESTMENTS – 0.1%   $662,963
(Cost $662,966)    
Short-term funds – 0.1% 662,963
John Hancock Collateral Trust, 4.9058% (D)(E) 18,901 188,958
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.7429% (D) 474,005 474,005
Total investments (Multifactor Large Cap ETF) (Cost $644,310,679) 100.0% $718,449,155
Other assets and liabilities, net 0.0%   162,403
Total net assets 100.0%   $718,611,558
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Non-income producing security.
(B) All or a portion of this security is on loan as of 4-30-23.
(C) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(D) The rate shown is the annualized seven-day yield as of 4-30-23.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
MULTIFACTOR MID CAP ETF
As of 4-30-23
  Shares or
Principal
Amount 		Value
COMMON STOCKS – 99.8%   $2,955,552,051
(Cost $2,722,270,935)    
Communication services – 3.2% 95,813,286
Diversified telecommunication services – 0.2%  
Frontier Communications Parent, Inc. (A) 178,809 4,030,355
Iridium Communications, Inc. 45,655 2,897,723
Entertainment – 0.9%  
Endeavor Group Holdings, Inc., Class A (A) 51,267 1,321,663
Liberty Media Corp.-Liberty Formula One, Series A (A) 11,029 714,459
Liberty Media Corp.-Liberty Formula One, Series C (A) 84,179 6,076,882
Live Nation Entertainment, Inc. (A) 37,038 2,510,436
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Communication services (continued)  
Entertainment (continued)  
ROBLOX Corp., Class A (A) 26,422 $940,623
Spotify Technology SA (A) 9,124 1,218,966
Take-Two Interactive Software, Inc. (A) 59,247 7,363,810
Warner Brothers Discovery, Inc. (A) 332,830 4,529,816
Warner Music Group Corp., Class A 32,083 977,569
World Wrestling Entertainment, Inc., Class A 17,699 1,896,802
Interactive media and services – 0.1%  
Pinterest, Inc., Class A (A) 74,123 1,704,829
ZoomInfo Technologies, Inc. (A) 58,799 1,288,286
Media – 2.0%  
DISH Network Corp., Class A (A) 113,885 855,276
Fox Corp., Class A 137,802 4,583,295
Fox Corp., Class B 59,970 1,831,484
Liberty Broadband Corp., Series A (A) 7,698 650,712
Liberty Broadband Corp., Series C (A) 49,669 4,210,938
Liberty Media Corp.-Liberty SiriusXM, Series A (A) 37,699 1,059,342
Liberty Media Corp.-Liberty SiriusXM, Series C (A) 55,734 1,557,208
News Corp., Class A 275,468 4,850,991
News Corp., Class B 80,797 1,434,147
Nexstar Media Group, Inc. 32,385 5,617,178
Omnicom Group, Inc. 95,167 8,619,275
Paramount Global, Class A 1,366 36,144
Paramount Global, Class B 159,703 3,725,871
Sirius XM Holdings, Inc. (B) 176,710 671,498
The Interpublic Group of Companies, Inc. 250,656 8,955,939
The New York Times Company, Class A 82,430 3,276,593
The Trade Desk, Inc., Class A (A) 99,552 6,405,176
Consumer discretionary – 12.6% 373,579,825
Automobile components – 0.8%  
Autoliv, Inc. 60,372 5,180,521
BorgWarner, Inc. 160,799 7,739,256
Gentex Corp. 154,476 4,261,993
Lear Corp. 41,564 5,306,060
Automobiles – 0.1%  
Harley-Davidson, Inc. 109,829 4,074,656
Broadline retail – 0.5%  
Dillard’s, Inc., Class A 2,346 700,023
eBay, Inc. 150,082 6,968,307
Etsy, Inc. (A) 40,056 4,046,858
Macy’s, Inc. 197,773 3,231,611
Distributors – 0.8%  
Genuine Parts Company 58,493 9,844,957
LKQ Corp. 130,502 7,533,880
Pool Corp. 17,423 6,121,048
Diversified consumer services – 0.4%  
ADT, Inc. 219,700 1,471,990
40 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Diversified consumer services (continued)  
H&R Block, Inc. 56,563 $1,918,051
Service Corp. International 134,266 9,424,131
Hotels, restaurants and leisure – 2.7%  
Aramark 155,418 5,393,005
Boyd Gaming Corp. 47,399 3,289,491
Caesars Entertainment, Inc. (A) 72,567 3,286,559
Carnival Corp. (A)(B) 124,861 1,149,970
Choice Hotels International, Inc. 18,961 2,417,907
Churchill Downs, Inc. 15,771 4,613,491
Darden Restaurants, Inc. 51,263 7,788,388
Domino’s Pizza, Inc. 13,366 4,243,304
DraftKings, Inc., Class A (A) 86,877 1,903,475
Dutch Bros, Inc., Class A (A)(B) 6,046 188,333
Expedia Group, Inc. (A) 34,298 3,222,640
Hilton Grand Vacations, Inc. (A) 32,973 1,411,244
Hyatt Hotels Corp., Class A (A) 22,912 2,618,842
Light & Wonder, Inc. (A) 29,799 1,796,582
Marriott Vacations Worldwide Corp. 22,739 3,059,760
MGM Resorts International 150,293 6,751,162
Norwegian Cruise Line Holdings, Ltd. (A) 157,217 2,098,847
Planet Fitness, Inc., Class A (A) 33,753 2,806,224
Royal Caribbean Cruises, Ltd. (A) 54,657 3,576,208
Texas Roadhouse, Inc. 34,286 3,792,717
Vail Resorts, Inc. 22,918 5,512,237
Wyndham Hotels & Resorts, Inc. 53,937 3,679,582
Wynn Resorts, Ltd. (A) 38,796 4,433,607
Household durables – 2.7%  
D.R. Horton, Inc. 149,425 16,409,854
Garmin, Ltd. 53,355 5,237,860
Lennar Corp., A Shares 105,106 11,857,008
Lennar Corp., B Shares 5,606 548,379
Mohawk Industries, Inc. (A) 30,786 3,260,237
Newell Brands, Inc. 237,957 2,891,178
NVR, Inc. (A) 1,666 9,729,440
PulteGroup, Inc. 187,792 12,610,233
Tempur Sealy International, Inc. 29,675 1,111,922
Toll Brothers, Inc. 77,409 4,947,209
TopBuild Corp. (A) 20,010 4,511,855
Whirlpool Corp. 51,155 7,140,726
Leisure products – 0.6%  
Brunswick Corp. 59,176 5,017,533
Hasbro, Inc. 71,609 4,240,685
Mattel, Inc. (A) 216,668 3,900,024
Polaris, Inc. 38,153 4,145,323
Specialty retail – 3.0%  
Advance Auto Parts, Inc. 42,395 5,321,844
AutoNation, Inc. (A) 48,435 6,378,890
Bath & Body Works, Inc. 87,176 3,059,878
Best Buy Company, Inc. 104,723 7,803,958
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Specialty retail (continued)  
Burlington Stores, Inc. (A) 19,076 $3,678,044
CarMax, Inc. (A) 80,904 5,665,707
Chewy, Inc., Class A (A)(B) 8,203 254,375
Dick’s Sporting Goods, Inc. 45,986 6,668,430
Five Below, Inc. (A) 27,209 5,369,968
Floor & Decor Holdings, Inc., Class A (A) 49,115 4,879,084
Lithia Motors, Inc. 19,412 4,287,917
Murphy USA, Inc. 9,328 2,567,345
Penske Automotive Group, Inc. 15,518 2,150,484
RH (A) 9,334 2,381,383
Tractor Supply Company 47,681 11,367,150
Ulta Beauty, Inc. (A) 20,984 11,571,207
Williams-Sonoma, Inc. 53,728 6,503,237
Textiles, apparel and luxury goods – 1.0%  
Capri Holdings, Ltd. (A) 89,680 3,721,720
Columbia Sportswear Company 7,876 657,961
Crocs, Inc. (A) 16,011 1,980,080
Deckers Outdoor Corp. (A) 16,931 8,115,706
Levi Strauss & Company, Class A (B) 47,704 689,800
Ralph Lauren Corp. 25,057 2,876,293
Skechers USA, Inc., Class A (A) 79,242 4,214,882
Tapestry, Inc. 171,480 6,998,099
Consumer staples – 4.7% 140,417,974
Beverages – 0.2%  
Celsius Holdings, Inc. (A) 9,147 874,179
Molson Coors Beverage Company, Class B 89,588 5,328,694
Consumer staples distribution and retail – 1.5%  
Albertsons Companies, Inc., Class A 60,306 1,260,395
BJ’s Wholesale Club Holdings, Inc. (A) 67,974 5,191,174
Casey’s General Stores, Inc. 23,261 5,322,582
Dollar Tree, Inc. (A) 92,014 14,143,472
Performance Food Group Company (A) 85,196 5,340,937
The Kroger Company 169,294 8,232,767
U.S. Foods Holding Corp. (A) 135,446 5,201,126
Food products – 2.4%  
Bunge, Ltd. 80,411 7,526,470
Campbell Soup Company 87,704 4,762,327
Conagra Brands, Inc. 162,395 6,164,514
Darling Ingredients, Inc. (A) 104,886 6,248,059
Flowers Foods, Inc. 94,089 2,588,388
Hormel Foods Corp. 72,330 2,925,025
Ingredion, Inc. 45,516 4,832,434
Kellogg Company 77,209 5,386,872
Lamb Weston Holdings, Inc. 67,360 7,531,522
Lancaster Colony Corp. 3,282 686,332
McCormick & Company, Inc. 72,584 6,376,504
Pilgrim’s Pride Corp. (A) 32,695 745,773
Post Holdings, Inc. (A) 41,324 3,739,409
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 41
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer staples (continued)  
Food products (continued)  
The J.M. Smucker Company 43,397 $6,700,931
Tyson Foods, Inc., Class A 95,747 5,983,230
Household products – 0.5%  
Church & Dwight Company, Inc. 77,280 7,505,434
Reynolds Consumer Products, Inc. 31,479 882,356
The Clorox Company 40,862 6,767,564
Personal care products – 0.1%  
Coty, Inc., Class A (A) 182,772 2,169,504
Energy – 4.8% 140,669,428
Energy equipment and services – 0.7%  
Baker Hughes Company 261,360 7,642,166
ChampionX Corp. 30,066 814,187
Halliburton Company 233,472 7,646,208
Noble Corp. PLC (A) 14,175 545,029
NOV, Inc. 158,049 2,647,321
TechnipFMC PLC (A) 63,317 866,810
Oil, gas and consumable fuels – 4.1%  
Antero Resources Corp. (A) 142,247 3,270,259
APA Corp. 160,081 5,898,985
Cheniere Energy, Inc. 63,801 9,761,553
Chesapeake Energy Corp. 66,031 5,459,443
Chord Energy Corp. 16,372 2,330,227
Civitas Resources, Inc. 30,905 2,133,990
Coterra Energy, Inc. 308,403 7,895,117
Diamondback Energy, Inc. 78,405 11,149,191
DT Midstream, Inc. 32,271 1,589,992
EnLink Midstream LLC (A) 30,399 298,214
EQT Corp. 151,354 5,273,173
Hess Corp. 79,251 11,496,150
HF Sinclair Corp. 79,341 3,499,732
Marathon Oil Corp. 315,653 7,626,176
Matador Resources Company 56,969 2,793,190
Murphy Oil Corp. 73,291 2,690,513
New Fortress Energy, Inc. 16,468 498,816
ONEOK, Inc. 129,849 8,493,423
Ovintiv, Inc. 157,958 5,699,125
PBF Energy, Inc., Class A 59,856 2,086,580
PDC Energy, Inc. 57,764 3,757,548
Permian Resources Corp. 26,405 275,932
Range Resources Corp. 123,987 3,279,456
Southwestern Energy Company (A) 369,946 1,920,020
Targa Resources Corp. 93,225 7,041,284
Texas Pacific Land Corp. 2,903 4,289,618
Financials – 13.7% 406,732,456
Banks – 3.4%  
Bank OZK 44,091 1,574,931
BOK Financial Corp. 15,178 1,272,979
Cadence Bank 43,259 874,697
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Banks (continued)  
Citizens Financial Group, Inc. 189,445 $5,861,428
Comerica, Inc. 78,104 3,387,370
Commerce Bancshares, Inc. 69,544 3,884,032
Cullen/Frost Bankers, Inc. 30,351 3,346,198
East West Bancorp, Inc. 90,268 4,665,953
Fifth Third Bancorp 289,599 7,587,494
First Citizens BancShares, Inc., Class A 5,565 5,604,957
First Financial Bankshares, Inc. 60,402 1,767,363
First Horizon Corp. 232,961 4,088,466
First Republic Bank (B) 144 505
Glacier Bancorp, Inc. 39,148 1,300,888
Huntington Bancshares, Inc. 563,905 6,315,736
KeyCorp 395,931 4,458,183
M&T Bank Corp. 64,908 8,165,426
New York Community Bancorp, Inc. 175,692 1,878,147
Old National Bancorp 25,712 344,798
Pinnacle Financial Partners, Inc. 39,109 2,120,881
Popular, Inc. 42,535 2,552,525
Prosperity Bancshares, Inc. 48,808 3,056,357
Regions Financial Corp. 427,368 7,803,740
SouthState Corp. 33,410 2,304,622
Synovus Financial Corp. 96,374 2,968,319
United Bankshares, Inc. 36,931 1,223,524
Valley National Bancorp 193,337 1,813,501
Webster Financial Corp. 93,406 3,484,044
Western Alliance Bancorp 68,958 2,559,721
Wintrust Financial Corp. 32,653 2,232,486
Zions Bancorp NA 107,867 3,005,175
Capital markets – 3.6%  
Affiliated Managers Group, Inc. 20,956 3,025,627
Ameriprise Financial, Inc. 41,966 12,804,666
Ares Management Corp., Class A 40,061 3,508,943
FactSet Research Systems, Inc. 16,785 6,910,217
Franklin Resources, Inc. 136,641 3,672,910
Houlihan Lokey, Inc. 25,435 2,324,250
Interactive Brokers Group, Inc., Class A 34,109 2,655,386
Invesco, Ltd. 263,950 4,521,464
Jefferies Financial Group, Inc. 126,255 4,043,948
LPL Financial Holdings, Inc. 35,960 7,509,886
MarketAxess Holdings, Inc. 16,001 5,094,238
Morningstar, Inc. 11,679 2,082,482
Nasdaq, Inc. 142,064 7,866,084
Northern Trust Corp. 73,362 5,733,974
Raymond James Financial, Inc. 77,108 6,980,587
Robinhood Markets, Inc., Class A (A) 195,591 1,730,980
SEI Investments Company 74,324 4,378,427
State Street Corp. 115,102 8,317,271
Stifel Financial Corp. 68,030 4,079,759
T. Rowe Price Group, Inc. 32,405 3,640,054
42 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Capital markets (continued)  
The Carlyle Group, Inc. 72,761 $2,206,841
TPG, Inc. 21,565 624,738
Tradeweb Markets, Inc., Class A 22,048 1,552,400
Consumer finance – 0.5%  
Ally Financial, Inc. 256,685 6,771,350
Credit Acceptance Corp. (A) 4,946 2,421,067
Synchrony Financial 238,795 7,046,840
Financial services – 1.3%  
Apollo Global Management, Inc. 85,018 5,389,291
Equitable Holdings, Inc. 283,405 7,365,696
Euronet Worldwide, Inc. (A) 10,770 1,192,670
FleetCor Technologies, Inc. (A) 26,973 5,770,064
Jack Henry & Associates, Inc. 35,895 5,863,089
Rocket Companies, Inc., Class A (A) 13,440 119,750
Shift4 Payments, Inc., Class A (A) 11,837 802,193
Toast, Inc., Class A (A) 41,116 748,311
Voya Financial, Inc. 92,880 7,103,462
WEX, Inc. (A) 23,318 4,135,447
Insurance – 4.9%  
American Financial Group, Inc. 49,313 6,052,184
Arch Capital Group, Ltd. (A) 126,583 9,502,586
Arthur J. Gallagher & Company 67,283 13,998,901
Assurant, Inc. 33,962 4,181,741
Brown & Brown, Inc. 81,958 5,277,276
Cincinnati Financial Corp. 53,741 5,720,192
CNA Financial Corp. 13,386 520,849
Erie Indemnity Company, Class A 12,156 2,641,863
Everest Re Group, Ltd. 14,211 5,371,758
Fidelity National Financial, Inc. 191,100 6,782,139
First American Financial Corp. 80,297 4,625,910
Globe Life, Inc. 58,036 6,298,067
Kinsale Capital Group, Inc. 8,038 2,626,095
Lincoln National Corp. 88,417 1,921,301
Loews Corp. 92,448 5,322,231
Markel Corp. (A) 4,557 6,236,391
Old Republic International Corp. 189,851 4,797,535
Primerica, Inc. 10,098 1,842,986
Principal Financial Group, Inc. 112,287 8,386,716
Reinsurance Group of America, Inc. 41,249 5,870,558
RenaissanceRe Holdings, Ltd. 24,324 5,239,633
RLI Corp. 10,051 1,397,592
Selective Insurance Group, Inc. 9,034 870,245
The Hartford Financial Services Group, Inc. 169,287 12,017,684
Unum Group 90,358 3,813,108
W.R. Berkley Corp. 83,263 4,905,856
Willis Towers Watson PLC 38,913 9,012,251
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care – 11.8% $348,003,290
Biotechnology – 2.1%  
Alnylam Pharmaceuticals, Inc. (A) 29,497 5,875,802
Apellis Pharmaceuticals, Inc. (A) 21,838 1,821,944
BioMarin Pharmaceutical, Inc. (A) 67,535 6,486,061
Exact Sciences Corp. (A) 56,080 3,593,046
Exelixis, Inc. (A) 208,420 3,814,086
Halozyme Therapeutics, Inc. (A) 55,990 1,798,959
Horizon Therapeutics PLC (A) 103,768 11,534,851
Incyte Corp. (A) 57,570 4,283,784
Ionis Pharmaceuticals, Inc. (A) 23,461 829,816
Karuna Therapeutics, Inc. (A) 7,013 1,391,660
Natera, Inc. (A) 25,258 1,281,086
Neurocrine Biosciences, Inc. (A) 43,987 4,444,446
Prometheus Biosciences, Inc. (A) 4,700 911,565
Sarepta Therapeutics, Inc. (A) 23,393 2,871,959
Seagen, Inc. (A) 25,358 5,071,600
United Therapeutics Corp. (A) 30,905 7,112,168
Health care equipment and supplies – 3.3%  
ABIOMED, Inc. (A)(C) 18,321 284,342
Align Technology, Inc. (A) 10,539 3,428,337
Dentsply Sirona, Inc. 149,067 6,250,379
Envista Holdings Corp. (A) 99,153 3,816,399
Globus Medical, Inc., Class A (A) 46,835 2,722,987
Hologic, Inc. (A) 131,911 11,345,665
Inspire Medical Systems, Inc. (A) 7,803 2,088,317
Insulet Corp. (A) 18,450 5,867,838
Lantheus Holdings, Inc. (A) 20,841 1,780,863
Masimo Corp. (A) 26,634 5,037,555
Novocure, Ltd. (A) 27,668 1,823,321
Penumbra, Inc. (A) 13,179 3,744,417
QuidelOrtho Corp. (A) 22,736 2,045,103
ResMed, Inc. 53,066 12,786,783
Shockwave Medical, Inc. (A) 13,474 3,909,616
STERIS PLC 39,992 7,540,492
Teleflex, Inc. 20,302 5,532,701
The Cooper Companies, Inc. 20,621 7,865,880
Zimmer Biomet Holdings, Inc. 61,838 8,560,853
Health care providers and services – 3.1%  
Acadia Healthcare Company, Inc. (A) 49,987 3,613,560
agilon health, Inc. (A)(B) 62,866 1,525,758
AmerisourceBergen Corp. 51,438 8,582,430
Cardinal Health, Inc. 94,029 7,719,781
Chemed Corp. 9,087 5,009,209
DaVita, Inc. (A) 40,339 3,645,032
Encompass Health Corp. 76,886 4,932,237
HealthEquity, Inc. (A) 30,551 1,632,951
Henry Schein, Inc. (A) 97,514 7,880,106
Laboratory Corp. of America Holdings 49,656 11,257,512
Molina Healthcare, Inc. (A) 27,710 8,254,532
Oak Street Health, Inc. (A) 27,758 1,081,729
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 43
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care (continued)  
Health care providers and services (continued)  
Option Care Health, Inc. (A) 62,102 $1,996,579
Quest Diagnostics, Inc. 71,604 9,939,351
R1 RCM, Inc. (A) 51,626 804,849
Tenet Healthcare Corp. (A) 57,090 4,185,839
Universal Health Services, Inc., Class B 57,990 8,718,797
Health care technology – 0.1%  
Doximity, Inc., Class A (A)(B) 12,726 467,681
Veeva Systems, Inc., Class A (A) 15,412 2,759,981
Life sciences tools and services – 2.3%  
Avantor, Inc. (A) 248,909 4,848,747
Bio-Rad Laboratories, Inc., Class A (A) 9,934 4,478,148
Bio-Techne Corp. 72,481 5,789,782
Bruker Corp. 67,958 5,377,517
Charles River Laboratories International, Inc. (A) 27,609 5,249,023
Medpace Holdings, Inc. (A) 5,423 1,085,359
Mettler-Toledo International, Inc. (A) 9,027 13,463,771
PerkinElmer, Inc. 58,342 7,613,048
Repligen Corp. (A) 24,630 3,734,647
Waters Corp. (A) 21,458 6,445,125
West Pharmaceutical Services, Inc. 27,580 9,962,999
Pharmaceuticals – 0.9%  
Catalent, Inc. (A) 87,393 4,380,137
Elanco Animal Health, Inc. (A) 200,634 1,900,004
Jazz Pharmaceuticals PLC (A) 41,613 5,845,378
Organon & Company 90,475 2,228,399
Perrigo Company PLC 53,625 1,994,314
Royalty Pharma PLC, Class A 87,839 3,087,541
Viatris, Inc. 745,633 6,956,756
Industrials – 18.3% 541,439,085
Aerospace and defense – 1.2%  
Axon Enterprise, Inc. (A) 17,226 3,629,690
BWX Technologies, Inc. 20,603 1,330,542
Curtiss-Wright Corp. 15,767 2,677,710
HEICO Corp. 12,512 2,110,024
HEICO Corp., Class A 20,406 2,739,097
Hexcel Corp. 17,942 1,293,259
Howmet Aerospace, Inc. 145,018 6,422,847
Huntington Ingalls Industries, Inc. 24,140 4,868,072
Textron, Inc. 93,826 6,280,712
Woodward, Inc. 31,459 3,020,693
Air freight and logistics – 0.6%  
C.H. Robinson Worldwide, Inc. 58,400 5,890,808
Expeditors International of Washington, Inc. 74,730 8,507,263
GXO Logistics, Inc. (A) 67,505 3,586,541
Building products – 2.1%  
A.O. Smith Corp. 72,727 4,966,527
Advanced Drainage Systems, Inc. 35,257 3,022,230
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Building products (continued)  
Allegion PLC 50,758 $5,607,744
Builders FirstSource, Inc. (A) 134,532 12,749,598
Carlisle Companies, Inc. 25,765 5,561,375
Fortune Brands Innovations, Inc. 93,173 6,027,361
Lennox International, Inc. 14,373 4,051,892
Masco Corp. 113,352 6,065,466
Owens Corning 76,423 8,162,741
Trex Company, Inc. (A) 53,405 2,919,117
UFP Industries, Inc. 25,639 2,013,174
Commercial services and supplies – 0.8%  
Clean Harbors, Inc. (A) 26,068 3,784,031
Copart, Inc. (A) 148,367 11,728,411
MSA Safety, Inc. 16,919 2,195,240
Rollins, Inc. 85,520 3,613,220
Tetra Tech, Inc. 23,763 3,288,086
Construction and engineering – 1.3%  
AECOM 77,442 6,431,558
API Group Corp. (A) 38,805 883,202
EMCOR Group, Inc. 32,312 5,525,352
MasTec, Inc. (A) 33,209 2,949,291
MDU Resources Group, Inc. 129,504 3,784,107
Quanta Services, Inc. 60,711 10,299,014
Valmont Industries, Inc. 6,968 2,024,622
WillScot Mobile Mini Holdings Corp. (A) 109,317 4,962,992
Electrical equipment – 1.8%  
Acuity Brands, Inc. 18,503 2,912,002
AMETEK, Inc. 88,313 12,181,012
Atkore, Inc. (A) 12,540 1,584,178
Generac Holdings, Inc. (A) 21,958 2,244,547
Hubbell, Inc. 26,262 7,072,882
nVent Electric PLC 73,316 3,074,140
Plug Power, Inc. (A)(B) 223,527 2,018,449
Regal Rexnord Corp. 30,359 3,951,527
Rockwell Automation, Inc. 42,444 12,029,054
Sensata Technologies Holding PLC 127,452 5,537,789
Sunrun, Inc. (A) 92,823 1,952,996
Ground transportation – 1.4%  
Avis Budget Group, Inc. (A) 9,275 1,638,614
Hertz Global Holdings, Inc. (A) 124,838 2,082,298
J.B. Hunt Transport Services, Inc. 37,280 6,534,811
Knight-Swift Transportation Holdings, Inc. 105,107 5,919,626
Landstar System, Inc. 21,934 3,861,042
Old Dominion Freight Line, Inc. 37,785 12,105,936
Saia, Inc. (A) 15,802 4,705,362
U-Haul Holding Company (B) 7,108 434,014
U-Haul Holding Company, Series N 65,211 3,527,915
Machinery – 4.1%  
AGCO Corp. 45,751 5,670,379
Chart Industries, Inc. (A) 13,522 1,799,778
44 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Machinery (continued)  
Crane Company (A) 23,066 $1,662,367
Crane NXT Company 23,192 1,098,373
Cummins, Inc. 19,195 4,511,593
Donaldson Company, Inc. 80,680 5,127,214
Dover Corp. 65,436 9,564,126
Evoqua Water Technologies Corp. (A) 21,480 1,062,186
Fortive Corp. 94,358 5,953,046
Graco, Inc. 86,246 6,838,445
IDEX Corp. 28,132 5,804,194
Ingersoll Rand, Inc. 116,080 6,618,882
ITT, Inc. 51,351 4,336,078
Lincoln Electric Holdings, Inc. 34,152 5,730,706
Nordson Corp. 27,999 6,056,464
Oshkosh Corp. 46,405 3,550,911
Pentair PLC 88,993 5,168,713
RBC Bearings, Inc. (A) 9,801 2,224,925
Snap-on, Inc. 30,633 7,946,507
Stanley Black & Decker, Inc. 55,695 4,808,706
The Middleby Corp. (A) 33,257 4,685,246
The Timken Company 18,405 1,414,424
The Toro Company 59,284 6,180,950
Wabtec Corp. 77,243 7,544,324
Watts Water Technologies, Inc., Class A 6,745 1,090,869
Xylem, Inc. 59,914 6,221,470
Passenger airlines – 0.2%  
Alaska Air Group, Inc. (A) 23,076 1,002,883
American Airlines Group, Inc. (A)(B) 65,314 890,883
Delta Air Lines, Inc. (A) 58,727 2,014,923
Southwest Airlines Company 46,318 1,402,972
United Airlines Holdings, Inc. (A) 37,196 1,629,185
Professional services – 2.9%  
Booz Allen Hamilton Holding Corp. 79,496 7,609,357
Broadridge Financial Solutions, Inc. 49,460 7,191,979
CACI International, Inc., Class A (A) 13,773 4,315,356
Clarivate PLC (A) 121,290 1,074,629
Concentrix Corp. 36,492 3,521,843
CoStar Group, Inc. (A) 18,479 1,421,959
Dun & Bradstreet Holdings, Inc. 105,173 1,174,782
Equifax, Inc. 37,784 7,873,430
ExlService Holdings, Inc. (A) 10,354 1,846,947
FTI Consulting, Inc. (A) 12,966 2,340,363
Genpact, Ltd. 112,367 5,005,950
Jacobs Solutions, Inc. 20,474 2,363,928
KBR, Inc. 57,146 3,241,893
Leidos Holdings, Inc. 78,046 7,278,570
Robert Half International, Inc. 74,288 5,423,024
Science Applications International Corp. 26,418 2,695,429
SS&C Technologies Holdings, Inc. 110,002 6,439,517
TransUnion 56,607 3,895,128
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Professional services (continued)  
TriNet Group, Inc. (A) 22,566 $2,093,673
Verisk Analytics, Inc. 46,950 9,113,465
Trading companies and distributors – 1.9%  
Applied Industrial Technologies, Inc. 10,807 1,466,078
Core & Main, Inc., Class A (A)(B) 32,691 851,927
Fastenal Company 199,245 10,727,351
SiteOne Landscape Supply, Inc. (A) 20,868 3,083,038
United Rentals, Inc. 36,953 13,344,098
Univar Solutions, Inc. (A) 69,346 2,461,783
W.W. Grainger, Inc. 18,624 12,954,296
Watsco, Inc. 16,665 5,772,423
WESCO International, Inc. 34,051 4,903,344
Information technology – 13.0% 384,980,306
Communications equipment – 0.6%  
Arista Networks, Inc. (A) 0 0
Ciena Corp. (A) 115,315 5,309,103
F5, Inc. (A) 41,164 5,530,795
Juniper Networks, Inc. 215,882 6,508,842
Ubiquiti, Inc. (B) 1,547 359,755
Electronic equipment, instruments and components – 3.1%  
Arrow Electronics, Inc. (A) 60,677 6,943,269
CDW Corp. 57,720 9,788,735
Cognex Corp. 86,907 4,144,595
Coherent Corp. (A) 81,615 2,786,336
Corning, Inc. 172,799 5,740,383
Flex, Ltd. (A) 428,307 8,810,275
IPG Photonics Corp. (A) 9,511 1,093,575
Jabil, Inc. 131,841 10,303,374
Keysight Technologies, Inc. (A) 77,708 11,239,685
Littelfuse, Inc. 19,044 4,613,219
National Instruments Corp. 67,854 3,951,138
Novanta, Inc. (A) 8,457 1,292,568
TD SYNNEX Corp. 21,817 1,942,586
Teledyne Technologies, Inc. (A) 18,327 7,594,709
Trimble, Inc. (A) 114,839 5,408,917
Zebra Technologies Corp., Class A (A) 22,304 6,424,221
IT services – 1.9%  
Akamai Technologies, Inc. (A) 85,209 6,984,582
Amdocs, Ltd. 94,332 8,607,795
Cloudflare, Inc., Class A (A) 39,649 1,865,485
DXC Technology Company (A) 194,563 4,640,328
EPAM Systems, Inc. (A) 21,239 5,998,743
Gartner, Inc. (A) 28,202 8,529,977
Globant SA (A) 17,887 2,805,934
GoDaddy, Inc., Class A (A) 69,773 5,280,421
MongoDB, Inc. (A) 11,167 2,679,633
Okta, Inc. (A) 18,039 1,236,213
VeriSign, Inc. (A) 29,671 6,581,028
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 45
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Semiconductors and semiconductor equipment – 3.2%  
Allegro MicroSystems, Inc. (A) 16,173 $578,508
Amkor Technology, Inc. 75,747 1,694,460
Cirrus Logic, Inc. (A) 17,949 1,539,845
Enphase Energy, Inc. (A) 41,750 6,855,350
Entegris, Inc. 64,398 4,824,698
First Solar, Inc. (A) 50,881 9,289,853
Lattice Semiconductor Corp. (A) 76,237 6,076,089
MKS Instruments, Inc. 50,503 4,235,687
Monolithic Power Systems, Inc. 17,219 7,954,661
ON Semiconductor Corp. (A) 229,104 16,486,326
Qorvo, Inc. (A) 71,816 6,612,817
Silicon Laboratories, Inc. (A) 7,600 1,058,680
Skyworks Solutions, Inc. 79,298 8,397,658
SolarEdge Technologies, Inc. (A) 20,954 5,985,091
Teradyne, Inc. 87,984 8,039,978
Universal Display Corp. 28,867 3,852,590
Wolfspeed, Inc. (A)(B) 54,420 2,533,251
Software – 3.2%  
ANSYS, Inc. (A) 34,879 10,949,216
AppLovin Corp., Class A (A) 17,738 301,546
Aspen Technology, Inc. (A) 18,752 3,319,104
Bentley Systems, Inc., Class B 48,137 2,048,711
BILL Holdings, Inc. (A) 26,761 2,055,512
Black Knight, Inc. (A) 69,340 3,788,738
Ceridian HCM Holding, Inc. (A) 67,516 4,285,916
Confluent, Inc., Class A (A) 12,773 281,006
Dolby Laboratories, Inc., Class A 43,593 3,648,298
Dropbox, Inc., Class A (A) 161,896 3,292,965
Dynatrace, Inc. (A) 69,806 2,951,398
Elastic NV (A) 19,499 1,116,318
Fair Isaac Corp. (A) 9,042 6,582,124
Gen Digital, Inc. 272,905 4,822,231
Gitlab, Inc., Class A (A)(B) 17,754 539,011
Guidewire Software, Inc. (A) 44,166 3,365,008
HashiCorp, Inc., Class A (A) 8,429 225,981
HubSpot, Inc. (A) 12,152 5,115,384
Informatica, Inc., Class A (A) 12,930 199,898
Manhattan Associates, Inc. (A) 32,129 5,323,133
Nutanix, Inc., Class A (A) 29,080 697,338
Paycom Software, Inc. (A) 18,376 5,335,839
Paylocity Holding Corp. (A) 15,588 3,013,005
Procore Technologies, Inc. (A) 16,008 854,987
PTC, Inc. (A) 54,245 6,823,479
Qualtrics International, Inc., Class A (A) 13,331 239,025
Samsara, Inc., Class A (A) 26,801 483,758
Smartsheet, Inc., Class A (A) 19,408 793,205
Splunk, Inc. (A) 26,665 2,299,590
SPS Commerce, Inc. (A) 7,681 1,131,411
Tyler Technologies, Inc. (A) 16,376 6,206,995
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Software (continued)  
UiPath, Inc., Class A (A) 68,287 $961,481
Zscaler, Inc. (A) 15,653 1,410,335
Technology hardware, storage and peripherals – 1.0%  
Hewlett Packard Enterprise Company 556,670 7,971,514
NetApp, Inc. 102,268 6,431,635
Pure Storage, Inc., Class A (A) 122,212 2,790,100
Seagate Technology Holdings PLC 70,522 4,144,578
Super Micro Computer, Inc. (A) 17,016 1,793,997
Western Digital Corp. (A) 185,098 6,374,775
Materials – 6.6% 196,646,572
Chemicals – 2.5%  
Albemarle Corp. 30,586 5,672,480
Ashland, Inc. 18,406 1,870,234
Axalta Coating Systems, Ltd. (A) 127,379 4,021,355
Celanese Corp. 64,847 6,889,345
CF Industries Holdings, Inc. 75,658 5,415,600
Eastman Chemical Company 63,792 5,375,752
FMC Corp. 39,252 4,850,762
Huntsman Corp. 138,256 3,703,878
International Flavors & Fragrances, Inc. 58,689 5,690,485
LyondellBasell Industries NV, Class A 80,890 7,653,003
Olin Corp. 92,898 5,146,549
RPM International, Inc. 66,933 5,490,514
The Chemours Company 61,211 1,779,404
The Mosaic Company 168,661 7,227,124
Valvoline, Inc. 79,281 2,739,159
Westlake Corp. 20,009 2,276,624
Construction materials – 0.5%  
Martin Marietta Materials, Inc. 21,660 7,866,912
Vulcan Materials Company 40,729 7,132,462
Containers and packaging – 2.3%  
Amcor PLC 545,395 5,982,983
AptarGroup, Inc. 39,048 4,627,578
Avery Dennison Corp. 36,506 6,369,567
Ball Corp. 113,001 6,009,393
Berry Global Group, Inc. 102,808 5,943,330
Crown Holdings, Inc. 60,579 5,196,467
Graphic Packaging Holding Company 187,840 4,632,134
International Paper Company 164,736 5,454,409
Packaging Corp. of America 59,896 8,101,533
Sealed Air Corp. 88,276 4,236,365
Silgan Holdings, Inc. 20,330 1,001,456
Sonoco Products Company 80,349 4,870,756
Westrock Company 150,560 4,506,261
Metals and mining – 1.3%  
Alcoa Corp. 114,835 4,264,972
Cleveland-Cliffs, Inc. (A) 393,587 6,053,368
Commercial Metals Company 45,247 2,112,582
46 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Materials (continued)  
Metals and mining (continued)  
MP Materials Corp. (A) 24,525 $531,457
Reliance Steel & Aluminum Company 34,326 8,505,983
Royal Gold, Inc. 30,092 3,985,384
Steel Dynamics, Inc. 95,389 9,915,687
U.S. Steel Corp. 154,863 3,543,265
Real estate – 5.2% 153,227,849
Diversified REITs – 0.1%  
WP Carey, Inc. 53,074 3,938,091
Health care REITs – 0.5%  
Healthcare Realty Trust, Inc. 132,199 2,614,896
Healthpeak Properties, Inc. 121,919 2,678,560
Medical Properties Trust, Inc. 221,942 1,946,431
Omega Healthcare Investors, Inc. 89,237 2,387,982
Ventas, Inc. 88,581 4,256,317
Hotel and resort REITs – 0.1%  
Host Hotels & Resorts, Inc. 266,974 4,316,970
Industrial REITs – 0.5%  
Americold Realty Trust, Inc. 96,823 2,864,993
EastGroup Properties, Inc. 16,019 2,668,125
First Industrial Realty Trust, Inc. 49,757 2,610,750
Rexford Industrial Realty, Inc. 67,136 3,744,175
STAG Industrial, Inc. 63,616 2,154,674
Office REITs – 0.2%  
Alexandria Real Estate Equities, Inc. 34,746 4,314,758
Boston Properties, Inc. 43,620 2,327,563
Real estate management and development – 0.5%  
CBRE Group, Inc., Class A (A) 108,762 8,337,695
Jones Lang LaSalle, Inc. (A) 32,128 4,467,077
Zillow Group, Inc., Class A (A) 7,861 336,294
Zillow Group, Inc., Class C (A) 31,320 1,363,673
Residential REITs – 1.1%  
American Homes 4 Rent, Class A 109,317 3,635,883
Apartment Income REIT Corp. 58,114 2,149,056
Camden Property Trust 33,877 3,728,164
Equity LifeStyle Properties, Inc. 59,274 4,083,979
Essex Property Trust, Inc. 14,849 3,262,771
Invitation Homes, Inc. 138,061 4,607,096
Mid-America Apartment Communities, Inc. 27,169 4,178,592
Sun Communities, Inc. 27,681 3,845,721
UDR, Inc. 85,017 3,513,753
Retail REITs – 0.7%  
Agree Realty Corp. 25,741 1,750,131
Brixmor Property Group, Inc. 111,501 2,378,316
Federal Realty Investment Trust 30,397 3,005,959
Kimco Realty Corp. 210,095 4,031,723
National Retail Properties, Inc. 67,521 2,937,164
Regency Centers Corp. 64,442 3,958,672
Spirit Realty Capital, Inc. 45,926 1,766,314
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Real estate (continued)  
Specialized REITs – 1.5%  
CubeSmart 83,986 $3,820,523
Extra Space Storage, Inc. 37,201 5,656,040
Gaming and Leisure Properties, Inc. 87,010 4,524,520
Iron Mountain, Inc. 99,865 5,516,543
Lamar Advertising Company, Class A 37,820 3,996,818
Life Storage, Inc. 31,596 4,245,870
National Storage Affiliates Trust 28,433 1,096,092
Rayonier, Inc. 42,873 1,344,497
VICI Properties, Inc. 208,526 7,077,372
Weyerhaeuser Company 193,489 5,787,256
Utilities – 5.9% 174,041,980
Electric utilities – 2.9%  
Alliant Energy Corp. 95,399 5,260,301
Avangrid, Inc. 21,270 856,330
Constellation Energy Corp. 45,020 3,484,548
Edison International 131,170 9,654,112
Entergy Corp. 89,549 9,633,681
Evergy, Inc. 128,113 7,957,098
Eversource Energy 97,540 7,570,079
FirstEnergy Corp. 188,635 7,507,673
IDACORP, Inc. 13,001 1,444,671
NRG Energy, Inc. 181,160 6,190,237
OGE Energy Corp. 123,610 4,640,319
PG&E Corp. (A) 454,100 7,769,651
Pinnacle West Capital Corp. 75,683 5,938,088
PPL Corp. 223,415 6,416,479
Gas utilities – 0.5%  
Atmos Energy Corp. 49,824 5,686,911
National Fuel Gas Company 50,124 2,801,932
UGI Corp. 163,790 5,549,205
Independent power and renewable electricity producers –
0.5% 		 
Brookfield Renewable Corp., Class A 38,748 1,294,571
Clearway Energy, Inc., Class A 14,924 432,498
Clearway Energy, Inc., Class C 39,725 1,206,448
The AES Corp. 308,950 7,309,757
Vistra Corp. 208,643 4,978,222
Multi-utilities – 1.6%  
Ameren Corp. 98,216 8,738,278
CenterPoint Energy, Inc. 318,610 9,708,047
CMS Energy Corp. 109,743 6,832,599
DTE Energy Company 68,209 7,667,374
NiSource, Inc. 275,120 7,829,915
WEC Energy Group, Inc. 82,891 7,971,627
Water utilities – 0.4%  
American Water Works Company, Inc. 53,482 7,928,707
Essential Utilities, Inc. 88,586 3,782,622
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 47
Table of Contents
MULTIFACTOR MID CAP ETF (continued)
  Shares or
Principal
Amount 		Value
SHORT-TERM INVESTMENTS – 0.2%   $5,770,243
(Cost $5,770,309)    
Short-term funds – 0.2% 5,770,243
John Hancock Collateral Trust, 4.9058% (D)(E) 114,747 $1,147,133
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.7429% (D) 4,623,110 4,623,110
Total investments (Multifactor Mid Cap ETF) (Cost $2,728,041,244) 100.0% $2,961,322,294
Other assets and liabilities, net (0.0%)   (474,012)
Total net assets 100.0%   $2,960,848,282
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Non-income producing security.
(B) All or a portion of this security is on loan as of 4-30-23.
(C) Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements.
(D) The rate shown is the annualized seven-day yield as of 4-30-23.
(E) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
MULTIFACTOR SMALL CAP ETF
As of 4-30-23
  Shares or
Principal
Amount 		Value
COMMON STOCKS – 99.9%   $339,480,131
(Cost $320,802,102)    
Communication services – 2.0% 6,816,108
Diversified telecommunication services – 0.3%  
Frontier Communications Parent, Inc. (A) 42,014 946,996
Entertainment – 0.7%  
Madison Square Garden Sports Corp. 5,181 1,038,791
World Wrestling Entertainment, Inc., Class A 12,660 1,356,772
Interactive media and services – 0.4%  
Bumble, Inc., Class A (A) 21,684 394,866
Ziff Davis, Inc. (A) 11,776 861,297
Media – 0.6%  
Cable One, Inc. 56 42,471
TEGNA, Inc. 52,372 895,561
The New York Times Company, Class A 32,185 1,279,354
Consumer discretionary – 12.2% 41,480,055
Automobile components – 1.0%  
Adient PLC (A) 20,860 770,568
Fox Factory Holding Corp. (A) 11,544 1,279,883
QuantumScape Corp. (A)(B) 52,515 367,605
Visteon Corp. (A) 6,529 916,606
Automobiles – 0.3%  
Harley-Davidson, Inc. 4,843 179,675
Thor Industries, Inc. 11,706 925,008
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer discretionary (continued)  
Broadline retail – 0.6%  
Dillard’s, Inc., Class A 848 $253,035
Macy’s, Inc. 55,195 901,886
Ollie’s Bargain Outlet Holdings, Inc. (A) 14,611 953,368
Diversified consumer services – 0.9%  
Bright Horizons Family Solutions, Inc. (A) 12,010 914,201
Grand Canyon Education, Inc. (A) 7,009 831,968
H&R Block, Inc. 35,390 1,200,075
Hotels, restaurants and leisure – 3.6%  
Dutch Bros, Inc., Class A (A)(B) 9,319 290,287
Hilton Grand Vacations, Inc. (A) 19,119 818,293
International Game Technology PLC 19,634 552,501
Life Time Group Holdings, Inc. (A) 11,515 239,397
Light & Wonder, Inc. (A) 20,600 1,241,974
Marriott Vacations Worldwide Corp. 9,613 1,293,525
Norwegian Cruise Line Holdings, Ltd. (A) 80,999 1,081,337
Penn Entertainment, Inc. (A) 33,856 1,008,570
Red Rock Resorts, Inc., Class A 11,450 558,760
SeaWorld Entertainment, Inc. (A) 9,632 516,853
The Wendy’s Company 51,883 1,146,614
Travel + Leisure Company 18,027 689,893
Wingstop, Inc. 7,861 1,573,065
Wyndham Hotels & Resorts, Inc. 18,788 1,281,717
Household durables – 2.3%  
Installed Building Products, Inc. 4,655 578,477
Leggett & Platt, Inc. 30,226 976,602
Newell Brands, Inc. 88,320 1,073,088
Skyline Champion Corp. (A) 11,880 881,140
Taylor Morrison Home Corp. (A) 23,431 1,009,642
Toll Brothers, Inc. 23,587 1,507,445
TopBuild Corp. (A) 8,107 1,827,966
Leisure products – 1.0%  
Acushnet Holdings Corp. 7,170 359,432
Brunswick Corp. 19,105 1,619,913
Topgolf Callaway Brands Corp. (A) 31,112 689,753
YETI Holdings, Inc. (A) 19,656 775,429
Specialty retail – 1.6%  
Academy Sports & Outdoors, Inc. 17,199 1,092,480
Asbury Automotive Group, Inc. (A) 4,777 924,158
Foot Locker, Inc. (B) 20,372 855,420
Murphy USA, Inc. 4,529 1,246,517
Signet Jewelers, Ltd. 9,487 698,053
The Gap, Inc. 54,868 526,733
Textiles, apparel and luxury goods – 0.9%  
Capri Holdings, Ltd. (A) 4,731 196,337
Columbia Sportswear Company 7,157 597,896
PVH Corp. 17,781 1,525,788
Under Armour, Inc., Class A (A) 43,674 387,388
Under Armour, Inc., Class C (A) 42,753 343,734
48 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Consumer staples – 3.5% $11,774,523
Beverages – 0.5%  
Coca-Cola Consolidated, Inc. 1,112 655,480
National Beverage Corp. (A) 6,168 306,550
The Boston Beer Company, Inc., Class A (A) 2,195 696,934
Food products – 2.1%  
Flowers Foods, Inc. 44,972 1,237,180
Hostess Brands, Inc. (A) 30,367 782,254
Ingredion, Inc. 13,902 1,475,975
Lancaster Colony Corp. 5,409 1,131,130
Pilgrim’s Pride Corp. (A) 9,437 215,258
Post Holdings, Inc. (A) 11,813 1,068,958
Seaboard Corp. 74 291,639
The Simply Good Foods Company (A) 22,933 834,073
Household products – 0.1%  
Reynolds Consumer Products, Inc. 12,578 352,561
Personal care products – 0.8%  
BellRing Brands, Inc. (A) 30,127 1,084,271
e.l.f. Beauty, Inc. (A) 11,784 1,093,084
Inter Parfums, Inc. 3,618 549,176
Energy – 6.1% 20,874,537
Energy equipment and services – 1.8%  
Cactus, Inc., Class A 14,097 570,647
ChampionX Corp. 41,678 1,128,640
Helmerich & Payne, Inc. 19,841 657,928
Noble Corp. PLC (A) 23,019 885,081
TechnipFMC PLC (A) 17,598 240,917
Transocean, Ltd. (A) 144,926 855,063
Valaris, Ltd. (A) 12,718 763,080
Weatherford International PLC (A) 15,694 1,014,303
Oil, gas and consumable fuels – 4.3%  
Antero Midstream Corp. 80,315 864,189
Chord Energy Corp. 8,491 1,208,524
Civitas Resources, Inc. 15,182 1,048,317
Comstock Resources, Inc. (B) 29,345 337,468
Denbury, Inc. (A) 10,564 986,466
DT Midstream, Inc. 21,437 1,056,201
EnLink Midstream LLC (A) 53,305 522,922
Kosmos Energy, Ltd. (A) 100,774 644,954
Magnolia Oil & Gas Corp., Class A 37,225 786,192
Matador Resources Company 3,626 177,783
Murphy Oil Corp. 32,024 1,175,601
PBF Energy, Inc., Class A 24,171 842,601
PDC Energy, Inc. 18,838 1,225,412
Peabody Energy Corp. (A) 26,526 637,155
Permian Resources Corp. 37,614 393,066
Range Resources Corp. 10,290 272,171
Scorpio Tankers, Inc. 12,350 645,288
SM Energy Company 25,312 710,761
Southwestern Energy Company (A) 235,801 1,223,807
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials – 16.1% $54,759,269
Banks – 7.3%  
Ameris Bancorp 15,267 511,445
Associated Banc-Corp. 33,563 598,428
Bank OZK 33,617 1,200,799
Cadence Bank 42,131 851,889
Columbia Banking System, Inc. 30,843 658,806
Community Bank System, Inc. 13,470 672,961
CVB Financial Corp. 30,128 451,016
First Financial Bankshares, Inc. 35,331 1,033,785
First Hawaiian, Inc. 29,714 567,835
First Interstate BancSystem, Inc., Class A 19,844 507,808
FNB Corp. 82,334 945,194
Glacier Bancorp, Inc. 25,858 859,261
Hancock Whitney Corp. 19,293 704,580
Home BancShares, Inc. 43,163 939,659
Independent Bank Corp. 10,453 585,368
New York Community Bancorp, Inc. 156,733 1,675,476
Old National Bancorp 67,888 910,378
PacWest Bancorp 27,404 278,151
Pinnacle Financial Partners, Inc. 19,748 1,070,934
Popular, Inc. 21,347 1,281,033
Prosperity Bancshares, Inc. 17,549 1,098,918
ServisFirst Bancshares, Inc. 11,951 603,526
SouthState Corp. 18,701 1,289,995
Synovus Financial Corp. 36,683 1,129,836
UMB Financial Corp. 9,171 583,367
United Bankshares, Inc. 34,393 1,139,440
United Community Banks, Inc. 26,587 662,016
Valley National Bancorp 100,450 942,221
Wintrust Financial Corp. 13,762 940,908
Capital markets – 2.1%  
Affiliated Managers Group, Inc. 10,393 1,500,541
Cohen & Steers, Inc. 6,293 377,958
Evercore, Inc., Class A 7,196 820,848
Federated Hermes, Inc. 19,348 800,814
Hamilton Lane, Inc., Class A 8,041 592,461
Houlihan Lokey, Inc. 13,644 1,246,789
Janus Henderson Group PLC 43,493 1,128,643
Moelis & Company, Class A 14,339 543,161
Consumer finance – 1.2%  
Credit Acceptance Corp. (A) 1,414 692,153
FirstCash Holdings, Inc. 8,497 875,446
Nelnet, Inc., Class A 3,054 294,100
OneMain Holdings, Inc. 27,442 1,052,950
SLM Corp. 79,882 1,199,828
Financial services – 2.2%  
Enact Holdings, Inc. 6,882 166,131
Essent Group, Ltd. 28,315 1,202,538
Euronet Worldwide, Inc. (A) 11,088 1,227,885
Jackson Financial, Inc., Class A 19,464 700,899
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 49
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Financials (continued)  
Financial services (continued)  
MGIC Investment Corp. 88,504 $1,316,054
Radian Group, Inc. 46,336 1,124,575
Shift4 Payments, Inc., Class A (A) 10,526 713,347
TFS Financial Corp. 15,004 180,648
The Western Union Company 85,306 932,395
Insurance – 3.3%  
American Equity Investment Life Holding Company 18,772 723,473
Assured Guaranty, Ltd. 13,795 743,137
Axis Capital Holdings, Ltd. 21,541 1,217,928
Brighthouse Financial, Inc. (A) 16,297 720,327
BRP Group, Inc., Class A (A) 15,198 382,838
Enstar Group, Ltd. (A) 2,811 676,327
First American Financial Corp. 23,568 1,357,752
Kemper Corp. 14,129 687,376
Lincoln National Corp. 5,215 113,322
RLI Corp. 10,233 1,422,899
Selective Insurance Group, Inc. 14,496 1,396,400
The Hanover Insurance Group, Inc. 8,783 1,050,095
White Mountains Insurance Group, Ltd. 616 882,198
Health care – 10.0% 33,851,754
Biotechnology – 3.5%  
Alkermes PLC (A) 36,647 1,046,272
CRISPR Therapeutics AG (A) 16,690 816,809
Cytokinetics, Inc. (A) 21,883 818,424
Denali Therapeutics, Inc. (A) 22,647 562,551
Exelixis, Inc. (A) 72,188 1,321,038
Halozyme Therapeutics, Inc. (A) 37,062 1,190,802
Intellia Therapeutics, Inc. (A) 17,728 669,232
Ionis Pharmaceuticals, Inc. (A) 31,042 1,097,956
Madrigal Pharmaceuticals, Inc. (A) 3,194 996,528
Natera, Inc. (A) 19,727 1,000,553
Prometheus Biosciences, Inc. (A) 8,287 1,607,264
PTC Therapeutics, Inc. (A) 13,603 750,069
Health care equipment and supplies – 2.0%  
Envista Holdings Corp. (A) 8,234 316,927
Globus Medical, Inc., Class A (A) 17,364 1,009,543
Haemonetics Corp. (A) 11,512 963,670
Integra LifeSciences Holdings Corp. (A) 18,443 1,020,267
Lantheus Holdings, Inc. (A) 15,346 1,311,316
Merit Medical Systems, Inc. (A) 13,030 1,059,209
QuidelOrtho Corp. (A) 12,668 1,139,487
Health care providers and services – 2.9%  
AMN Healthcare Services, Inc. (A) 9,581 827,319
Encompass Health Corp. 22,952 1,472,371
HealthEquity, Inc. (A) 19,183 1,025,331
Option Care Health, Inc. (A) 32,689 1,050,951
Premier, Inc., Class A 31,534 1,051,028
Select Medical Holdings Corp. 22,688 691,984
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Health care (continued)  
Health care providers and services (continued)  
Surgery Partners, Inc. (A) 15,270 $605,608
Tenet Healthcare Corp. (A) 22,155 1,624,405
The Ensign Group, Inc. 14,093 1,368,289
Health care technology – 0.3%  
Evolent Health, Inc., Class A (A) 23,035 838,704
Life sciences tools and services – 0.9%  
10X Genomics, Inc., Class A (A) 19,332 1,013,577
Maravai LifeSciences Holdings, Inc., Class A (A) 20,479 282,405
Medpace Holdings, Inc. (A) 7,096 1,420,193
Sotera Health Company (A) 20,832 349,353
Syneos Health, Inc. (A) 2,022 79,384
Pharmaceuticals – 0.4%  
Organon & Company 14,062 346,347
Perrigo Company PLC 29,755 1,106,588
Industrials – 21.1% 71,794,698
Aerospace and defense – 2.5%  
Aerojet Rocketdyne Holdings, Inc. (A) 17,539 989,375
BWX Technologies, Inc. 20,088 1,297,283
Curtiss-Wright Corp. 9,620 1,633,765
Hexcel Corp. 18,742 1,350,923
Maxar Technologies, Inc. 16,714 881,162
Parsons Corp. (A) 9,031 392,849
Spirit AeroSystems Holdings, Inc., Class A 24,133 718,198
Woodward, Inc. 13,082 1,256,134
Air freight and logistics – 0.4%  
GXO Logistics, Inc. (A) 25,694 1,365,122
Building products – 1.9%  
AAON, Inc. 9,502 931,196
Armstrong World Industries, Inc. 12,620 866,489
Simpson Manufacturing Company, Inc. 10,573 1,329,872
The AZEK Company, Inc. (A) 24,933 676,682
Trex Company, Inc. (A) 24,160 1,320,586
UFP Industries, Inc. 15,723 1,234,570
Commercial services and supplies – 1.2%  
Casella Waste Systems, Inc., Class A (A) 11,622 1,034,358
Driven Brands Holdings, Inc. (A) 14,121 433,515
MSA Safety, Inc. 9,296 1,206,156
Stericycle, Inc. (A) 20,679 943,996
UniFirst Corp. 3,382 553,566
Construction and engineering – 1.3%  
API Group Corp. (A) 42,346 963,795
Comfort Systems USA, Inc. 7,789 1,164,378
Fluor Corp. (A) 31,691 920,940
MDU Resources Group, Inc. 48,247 1,409,777
Electrical equipment – 1.6%  
Acuity Brands, Inc. 8,747 1,376,603
Atkore, Inc. (A) 8,499 1,073,679
50 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Electrical equipment (continued)  
Encore Wire Corp. 3,940 $615,940
EnerSys 9,142 758,512
Shoals Technologies Group, Inc., Class A (A) 30,436 635,808
Sunrun, Inc. (A) 46,633 981,158
Ground transportation – 1.2%  
Hertz Global Holdings, Inc. (A) 32,545 542,851
Landstar System, Inc. 8,891 1,565,083
Ryder System, Inc. 10,590 838,304
Schneider National, Inc., Class B 12,641 330,815
XPO, Inc. (A) 23,012 1,016,670
Machinery – 4.2%  
Allison Transmission Holdings, Inc. 27,054 1,319,965
Chart Industries, Inc. (A) 9,162 1,219,462
Crane Company (A) 12,334 888,911
Crane NXT Company 12,334 584,138
Evoqua Water Technologies Corp. (A) 27,411 1,355,474
Flowserve Corp. 32,871 1,097,563
Franklin Electric Company, Inc. 8,694 777,852
Gates Industrial Corp. PLC (A) 23,709 319,360
Hillenbrand, Inc. 13,474 614,684
John Bean Technologies Corp. 8,249 896,749
Mueller Industries, Inc. 12,386 889,934
Oshkosh Corp. 15,016 1,149,024
Terex Corp. 14,885 663,722
The Timken Company 16,544 1,271,406
Watts Water Technologies, Inc., Class A 6,837 1,105,748
Marine transportation – 0.1%  
Kirby Corp. (A) 3,267 234,701
Passenger airlines – 0.3%  
Alaska Air Group, Inc. (A) 7,290 316,823
Copa Holdings SA, Class A 6,457 583,196
Professional services – 3.5%  
Alight, Inc., Class A (A) 67,617 625,457
ASGN, Inc. (A) 13,149 941,337
Dun & Bradstreet Holdings, Inc. 59,113 660,292
ExlService Holdings, Inc. (A) 7,270 1,296,823
Exponent, Inc. 12,424 1,143,629
FTI Consulting, Inc. (A) 8,570 1,546,885
Insperity, Inc. 8,314 1,018,132
ManpowerGroup, Inc. 14,393 1,089,694
Maximus, Inc. 15,295 1,279,427
Science Applications International Corp. 13,178 1,344,551
TriNet Group, Inc. (A) 10,438 968,438
Trading companies and distributors – 2.9%  
Air Lease Corp. 29,520 1,187,294
Applied Industrial Technologies, Inc. 8,566 1,162,064
Beacon Roofing Supply, Inc. (A) 10,834 651,990
Core & Main, Inc., Class A (A)(B) 16,244 423,319
GATX Corp. 8,170 930,645
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Industrials (continued)  
Trading companies and distributors (continued)  
Herc Holdings, Inc. 5,720 $572,114
MSC Industrial Direct Company, Inc., Class A 10,236 928,712
SiteOne Landscape Supply, Inc. (A) 9,677 1,429,680
Triton International, Ltd. 12,994 1,074,214
Univar Solutions, Inc. (A) 45,667 1,621,179
Information technology – 12.7% 43,201,147
Communications equipment – 0.4%  
Calix, Inc. (A) 13,173 602,006
Lumentum Holdings, Inc. (A) 15,129 729,974
Electronic equipment, instruments and components – 3.8%  
Advanced Energy Industries, Inc. 8,277 715,961
Avnet, Inc. 20,588 849,461
Badger Meter, Inc. 6,624 876,554
Belden, Inc. 9,529 751,743
Coherent Corp. (A) 26,767 913,825
Fabrinet (A) 8,267 784,952
Insight Enterprises, Inc. (A) 7,584 917,285
IPG Photonics Corp. (A) 6,573 755,764
Littelfuse, Inc. 6,084 1,473,788
National Instruments Corp. 32,820 1,911,109
Novanta, Inc. (A) 9,654 1,475,517
Sanmina Corp. (A) 13,153 687,376
Vontier Corp. 33,509 909,099
IT services – 0.5%  
DXC Technology Company (A) 43,221 1,030,821
Kyndryl Holdings, Inc. (A) 46,805 676,800
Semiconductors and semiconductor equipment – 3.4%  
Ambarella, Inc. (A) 9,679 599,904
Amkor Technology, Inc. 25,484 570,077
Axcelis Technologies, Inc. (A) 7,283 861,579
Cirrus Logic, Inc. (A) 16,080 1,379,503
Diodes, Inc. (A) 9,807 781,618
MACOM Technology Solutions Holdings, Inc. (A) 11,974 698,563
MKS Instruments, Inc. 2,909 243,978
Onto Innovation, Inc. (A) 10,813 875,637
Power Integrations, Inc. 15,054 1,095,630
Rambus, Inc. (A) 24,341 1,079,280
Silicon Laboratories, Inc. (A) 9,082 1,265,123
Synaptics, Inc. (A) 8,723 772,509
Universal Display Corp. 9,161 1,222,627
Software – 4.3%  
Altair Engineering, Inc., Class A (A) 11,948 825,009
Box, Inc., Class A (A) 37,097 981,587
DoubleVerify Holdings, Inc. (A) 18,163 534,355
Elastic NV (A) 16,476 943,251
EngageSmart, Inc. (A) 6,424 110,300
Envestnet, Inc. (A) 12,570 796,687
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 51
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Information technology (continued)  
Software (continued)  
Freshworks, Inc., Class A (A) 34,542 $461,481
Guidewire Software, Inc. (A) 17,989 1,370,582
Informatica, Inc., Class A (A) 8,973 138,723
Instructure Holdings, Inc. (A) 4,168 110,577
NCR Corp. (A) 29,759 663,328
New Relic, Inc. (A) 12,105 865,144
Nutanix, Inc., Class A (A) 36,950 886,061
Paycor HCM, Inc. (A) 14,412 338,682
PowerSchool Holdings, Inc., Class A (A) 17,499 365,379
Qualys, Inc. (A) 8,525 962,814
Smartsheet, Inc., Class A (A) 28,485 1,164,182
SPS Commerce, Inc. (A) 8,353 1,230,397
Tenable Holdings, Inc. (A) 25,218 932,814
Teradata Corp. (A) 22,767 881,311
Technology hardware, storage and peripherals – 0.3%  
Super Micro Computer, Inc. (A) 10,722 1,130,420
Materials – 6.8% 23,102,090
Chemicals – 4.0%  
Ashland, Inc. 14,347 1,457,799
Avient Corp. 20,061 772,549
Axalta Coating Systems, Ltd. (A) 47,398 1,496,355
Balchem Corp. 7,621 1,001,399
Cabot Corp. 12,052 864,852
Element Solutions, Inc. 49,733 902,654
HB Fuller Company 11,764 778,424
Huntsman Corp. 36,928 989,301
Livent Corp. (A) 39,351 859,819
NewMarket Corp. 1,604 640,958
Quaker Chemical Corp. 3,135 585,085
The Chemours Company 40,896 1,188,847
The Scotts Miracle-Gro Company (B) 9,195 614,318
Valvoline, Inc. 46,985 1,623,332
Construction materials – 0.7%  
Eagle Materials, Inc. 10,214 1,513,817
Summit Materials, Inc., Class A (A) 25,914 710,303
Containers and packaging – 1.0%  
Greif, Inc., Class A 5,893 370,021
Greif, Inc., Class B 987 77,716
O-I Glass, Inc. (A) 33,380 750,049
Silgan Holdings, Inc. 19,149 943,280
Sonoco Products Company 21,910 1,328,184
Metals and mining – 0.7%  
ATI, Inc. (A) 27,550 1,063,981
Commercial Metals Company 25,822 1,205,629
U.S. Steel Corp. 5,837 133,551
Paper and forest products – 0.4%  
Louisiana-Pacific Corp. 20,587 1,229,867
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Real estate – 5.4% $18,346,383
Diversified REITs – 0.4%  
Broadstone Net Lease, Inc. 41,134 665,137
Essential Properties Realty Trust, Inc. 34,547 855,038
Health care REITs – 0.6%  
Medical Properties Trust, Inc. 132,904 1,165,568
Physicians Realty Trust 53,812 775,969
Hotel and resort REITs – 0.5%  
Apple Hospitality REIT, Inc. 46,147 687,129
Ryman Hospitality Properties, Inc. 11,572 1,037,546
Industrial REITs – 0.7%  
STAG Industrial, Inc. 38,572 1,306,434
Terreno Realty Corp. 17,939 1,104,863
Office REITs – 0.6%  
Cousins Properties, Inc. 35,111 765,771
Kilroy Realty Corp. 24,169 706,702
Vornado Realty Trust 38,813 582,583
Real estate management and development – 0.2%  
The Howard Hughes Corp. (A) 7,651 591,958
Residential REITs – 0.4%  
Apartment Income REIT Corp. 34,353 1,270,374
Retail REITs – 1.3%  
Agree Realty Corp. 17,126 1,164,397
Kite Realty Group Trust 49,433 1,024,252
Phillips Edison & Company, Inc. 27,221 858,550
Spirit Realty Capital, Inc. 31,801 1,223,066
Specialized REITs – 0.7%  
National Storage Affiliates Trust 18,284 704,848
PotlatchDeltic Corp. 17,713 818,872
Rayonier, Inc. 33,078 1,037,326
Utilities – 4.0% 13,479,567
Electric utilities – 1.5%  
ALLETE, Inc. 12,832 800,460
Hawaiian Electric Industries, Inc. 25,460 998,287
IDACORP, Inc. 11,913 1,323,773
PNM Resources, Inc. 20,040 964,525
Portland General Electric Company 20,352 1,030,218
Gas utilities – 1.5%  
National Fuel Gas Company 20,248 1,131,863
New Jersey Resources Corp. 22,164 1,144,549
ONE Gas, Inc. 12,284 945,254
Southwest Gas Holdings, Inc. 15,515 868,840
Spire, Inc. 11,782 797,995
Independent power and renewable electricity producers –
0.3% 		 
Ormat Technologies, Inc. 10,913 936,445
Multi-utilities – 0.5%  
Black Hills Corp. 14,782 965,117
NorthWestern Corp. 13,681 801,980
52 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MULTIFACTOR SMALL CAP ETF (continued)
  Shares or
Principal
Amount 		Value
Utilities (continued)  
Water utilities – 0.2%  
American States Water Company 8,679 $770,261
SHORT-TERM INVESTMENTS – 0.3%   $1,056,210
(Cost $1,056,259)    
Short-term funds – 0.3% 1,056,210
John Hancock Collateral Trust, 4.9058% (C)(D) 61,980 619,623
State Street Institutional U.S. Government Money Market Fund, Premier Class, 4.7429% (C) 436,587 436,587
Total investments (Multifactor Small Cap ETF) (Cost $321,858,361) 100.2% $340,536,341
Other assets and liabilities, net (0.2%)   (699,159)
Total net assets 100.0%   $339,837,182
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Non-income producing security.
(B) All or a portion of this security is on loan as of 4-30-23.
(C) The rate shown is the annualized seven-day yield as of 4-30-23.
(D) Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 53
Table of Contents
Financial statements
STATEMENTS OF ASSETS AND LIABILITIES 4-30-23
  Multifactor Developed International ETF Multifactor Emerging Markets ETF Multifactor Large Cap ETF Multifactor Mid Cap ETF
Assets        
Unaffiliated investments, at value $481,386,489 $703,530,974 $718,260,197 $2,960,175,161
Affiliated investments, at value 17,292,826 323,200 188,958 1,147,133
Total investments, at value 498,679,315 703,854,174 718,449,155 2,961,322,294
Cash — — — 121,029
Foreign currency, at value 1,776,379 2,214,269 — —
Dividends and interest receivable 3,331,965 1,760,455 579,416 1,545,504
Receivable for fund shares sold — — — 7,128,815
Receivable for investments sold 354,663 — 2,600,508 219,426
Receivable for securities lending income 20,430 12,275 1,926 17,625
Other assets 45,123 66,078 72,112 218,380
Total assets 504,207,875 707,907,251 721,703,117 2,970,573,073
Liabilities        
Foreign capital gains tax payable — 3,843,798 — —
Payable for investments purchased 4,609 4,357 — 7,226,879
Payable for fund shares repurchased — — 2,613,132 —
Payable upon return of securities loaned 17,289,488 322,564 188,878 1,157,219
Payable to affiliates        
Investment management fees 126,444 152,634 138,164 872,061
Accounting and legal services fees 29,831 45,102 46,785 187,424
Trustees’ fees 692 1,040 1,063 4,322
Other liabilities and accrued expenses 80,042 168,745 103,537 276,886
Total liabilities 17,531,106 4,538,240 3,091,559 9,724,791
Net assets $486,676,769 $703,369,011 $718,611,558 $2,960,848,282
Net assets consist of        
Paid-in capital $490,990,114 $752,698,064 $691,893,406 $2,882,076,618
Total distributable earnings (loss) (4,313,345) (49,329,053) 26,718,152 78,771,664
Net assets $486,676,769 $703,369,011 $718,611,558 $2,960,848,282
Unaffiliated investments, at cost $435,491,368 $689,126,267 $644,121,718 $2,726,894,045
Affiliated investments, at cost $17,293,018 $323,215 $188,961 $1,147,199
Foreign currency, at cost $1,760,365 $2,192,382 — —
Securities loaned, at value $25,583,198 $3,896,499 $891,024 $9,183,941
Net asset value per share        
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.        
Net assets $486,676,769 $703,369,011 $718,611,558 $2,960,848,282
Shares outstanding 15,500,000 29,000,000 13,750,000 62,300,000
Net asset value per share $31.40 $24.25 $52.26 $47.53
54 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF ASSETS AND LIABILITIES 4-30-23
Continued
  Multifactor Small Cap ETF
Assets  
Unaffiliated investments, at value $339,916,718
Affiliated investments, at value 619,623
Total investments, at value 340,536,341
Dividends and interest receivable 56,498
Receivable for investments sold 6,663
Receivable for securities lending income 6,171
Other assets 39,438
Total assets 340,645,111
Liabilities  
Payable for investments purchased 2,006
Payable upon return of securities loaned 620,760
Payable to affiliates  
Investment management fees 94,895
Accounting and legal services fees 21,782
Trustees’ fees 501
Other liabilities and accrued expenses 67,985
Total liabilities 807,929
Net assets $339,837,182
Net assets consist of  
Paid-in capital $422,326,749
Total distributable earnings (loss) (82,489,567)
Net assets $339,837,182
Unaffiliated investments, at cost $321,238,689
Affiliated investments, at cost $619,672
Securities loaned, at value $2,073,177
Net asset value per share  
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.  
Net assets $339,837,182
Shares outstanding 10,750,000
Net asset value per share $31.61
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL | JOHN HANCOCK MULTIFACTOR ETFS 55
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-23
  Multifactor Developed International ETF Multifactor Emerging Markets ETF Multifactor Large Cap ETF Multifactor Mid Cap ETF
Investment income        
Dividends from unaffiliated investments $16,746,291 $27,284,844 $13,235,170 $44,494,034
Non-cash dividends 1,067,565 1,394,248 — —
Securities lending 110,175 42,613 12,477 248,483
Interest 17,982 17,493 18,915 80,380
Less foreign taxes withheld (1,586,883) (3,422,172) (2,085) (13,757)
Total investment income 16,355,130 25,317,026 13,264,477 44,809,140
Expenses        
Investment management fees 1,566,909 2,952,798 1,913,102 9,784,117
Accounting and legal services fees 86,141 128,989 139,037 504,006
Transfer agent fees 10,000 10,000 10,000 10,000
Trustees’ fees 10,594 15,522 17,673 60,525
Custodian fees 144,421 630,675 136,209 426,921
Printing and postage 22,437 24,397 49,482 160,141
Professional fees 57,971 65,706 65,933 136,611
Stock exchange listing fees 7,468 7,433 8,408 11,856
Other 30,510 35,015 36,563 76,016
Total expenses 1,936,451 3,870,535 2,376,407 11,170,193
Less expense reductions (189,234) (578,491) (242,653) (191,858)
Net expenses 1,747,217 3,292,044 2,133,754 10,978,335
Net investment income 14,607,913 22,024,982 11,130,723 33,830,805
Realized and unrealized gain (loss)        
Net realized gain (loss) on        
Unaffiliated investments and foreign currency transactions (22,380,421) (31,252,498)1 (14,143,176) (89,349,040)
Affiliated investments 1,437 257 — (3,223)
Futures contracts (411,178) (211,500) (110,379) (306,545)
Redemptions in kind 10,695,460 2,084,723 47,689,722 100,068,442
  (12,094,702) (29,379,018) 33,436,167 10,409,634
Change in net unrealized appreciation (depreciation) of        
Unaffiliated investments and translation of assets and liabilities in foreign currencies 30,229,087 (25,012,718)2 (35,705,624) (77,717,778)
Affiliated investments 374 111 23 400
  30,229,461 (25,012,607) (35,705,601) (77,717,378)
Net realized and unrealized gain (loss) 18,134,759 (54,391,625) (2,269,434) (67,307,744)
Increase (decrease) in net assets from operations $32,742,672 $(32,366,643) $8,861,289 $(33,476,939)
    
   
1 Net of foreign capital gains taxes of $457,980.
2 Net of $735,038 decrease in deferred foreign capital gains taxes.
56 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-23
Continued
    
  Multifactor Small Cap ETF
Investment income  
Dividends from unaffiliated investments $5,216,132
Securities lending 36,805
Interest 17,883
Less foreign taxes withheld (6,555)
Total investment income 5,264,265
Expenses  
Investment management fees 1,333,972
Accounting and legal services fees 65,292
Transfer agent fees 10,000
Trustees’ fees 8,268
Custodian fees 74,141
Printing and postage 27,348
Professional fees 46,051
Stock exchange listing fees 5,889
Other 24,297
Total expenses 1,595,258
Less expense reductions (158,810)
Net expenses 1,436,448
Net investment income 3,827,817
Realized and unrealized gain (loss)  
Net realized gain (loss) on  
Unaffiliated investments and foreign currency transactions (27,872,495)
Affiliated investments (346)
Futures contracts 47,318
Redemptions in kind 27,979,919
  154,396
Change in net unrealized appreciation (depreciation) of  
Unaffiliated investments and translation of assets and liabilities in foreign currencies (5,514,953)
Affiliated investments 1
  (5,514,952)
Net realized and unrealized loss (5,360,556)
Decrease in net assets from operations $(1,532,739)
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL | JOHN HANCOCK MULTIFACTOR ETFS 57
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
  Multifactor Developed
International ETF 		Multifactor Emerging Markets ETF Multifactor Large Cap ETF
  Year ended
4-30-23 		Year ended
4-30-22 		Year ended
4-30-23 		Year ended
4-30-22 		Year ended
4-30-23 		Year ended
4-30-22
Increase (decrease) in net assets            
From operations            
Net investment income $14,607,913 $14,946,190 $22,024,982 $17,285,712 $11,130,723 $8,581,950
Net realized gain (loss) (12,094,702) 12,647,177 (29,379,018) (551,133) 33,436,167 27,074,095
Change in net unrealized appreciation (depreciation) 30,229,461 (66,945,494) (25,012,607) (115,024,799) (35,705,601) (49,027,535)
Increase (decrease) in net assets resulting from operations 32,742,672 (39,352,127) (32,366,643) (98,290,220) 8,861,289 (13,371,490)
Distributions to shareholders            
From earnings (12,810,369) (16,282,455) (18,390,167) (18,823,632) (10,582,221) (8,541,390)
From fund share transactions            
Shares issued 39,519,440 123,309,794 104,872,084 71,215,603 86,066,757 170,026,286
Shares repurchased (55,442,968) (69,777,522) (11,598,854) (29,222,676) (147,594,230) (72,014,924)
Total from fund share transactions (15,923,528) 53,532,272 93,273,230 41,992,927 (61,527,473) 98,011,362
Total increase (decrease) 4,008,775 (2,102,310) 42,516,420 (75,120,925) (63,248,405) 76,098,482
Net assets            
Beginning of year 482,667,994 484,770,304 660,852,591 735,973,516 781,859,963 705,761,481
End of year $486,676,769 $482,667,994 $703,369,011 $660,852,591 $718,611,558 $781,859,963
Share activity            
Shares outstanding            
Beginning of year 16,100,000 14,500,000 25,100,000 23,600,000 14,975,000 13,225,000
Shares issued 1,400,000 3,700,000 4,400,000 2,500,000 1,725,000 3,050,000
Shares repurchased (2,000,000) (2,100,000) (500,000) (1,000,000) (2,950,000) (1,300,000)
End of year 15,500,000 16,100,000 29,000,000 25,100,000 13,750,000 14,975,000
58 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
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STATEMENTS OF CHANGES IN NET ASSETS  
Continued
  Multifactor Mid Cap ETF Multifactor Small Cap ETF
  Year ended
4-30-23 		Year ended
4-30-22 		Year ended
4-30-23 		Year ended
4-30-22
Increase (decrease) in net assets        
From operations        
Net investment income $33,830,805 $20,239,746 $3,827,817 $3,805,766
Net realized gain 10,409,634 87,205,470 154,396 29,531,594
Change in net unrealized depreciation (77,717,378) (234,507,963) (5,514,952) (65,353,940)
Decrease in net assets resulting from operations (33,476,939) (127,062,747) (1,532,739) (32,016,580)
Distributions to shareholders        
From earnings (30,114,715) (18,319,101) (3,723,992) (4,761,782)
From fund share transactions        
Shares issued 860,188,790 605,048,219 82,315,085 109,353,746
Shares repurchased (246,351,415) (212,516,812) (113,906,004) (122,188,867)
Total from fund share transactions 613,837,375 392,531,407 (31,590,919) (12,835,121)
Total increase (decrease) 550,245,721 247,149,559 (36,847,650) (49,613,483)
Net assets        
Beginning of year 2,410,602,561 2,163,453,002 376,684,832 426,298,315
End of year $2,960,848,282 $2,410,602,561 $339,837,182 $376,684,832
Share activity        
Shares outstanding        
Beginning of year 49,450,000 41,975,000 11,775,000 12,075,000
Shares issued 18,050,000 11,525,000 2,625,000 3,225,000
Shares repurchased (5,200,000) (4,050,000) (3,650,000) (3,525,000)
End of year 62,300,000 49,450,000 10,750,000 11,775,000
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL | JOHN HANCOCK MULTIFACTOR ETFS 59
Table of Contents
Financial Highlights
MULTIFACTOR DEVELOPED INTERNATIONAL ETF
Period ended 4-30-23 4-30-22 4-30-21 4-30-20 4-30-19
Per share operating performance          
Net asset value, beginning of period $29.98 $33.43 $24.33 $28.75 $30.68
Net investment income1 0.92 0.97 0.70 0.73 0.91
Net realized and unrealized gain (loss) on investments 1.30 (3.34) 8.99 (4.21) (2.31)
Total from investment operations 2.22 (2.37) 9.69 (3.48) (1.40)
Less distributions          
From net investment income (0.80) (1.08) (0.59) (0.94) (0.53)
Net asset value, end of period $31.40 $29.98 $33.43 $24.33 $28.75
Total return (%)2 7.79 (7.45) 40.26 (12.57) (4.54)
Ratios and supplemental data          
Net assets, end of period (in millions) $487 $483 $485 $433 $512
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.43 0.42 0.43 0.52 0.55
Expenses including reductions 0.39 0.39 0.39 0.45 0.45
Net investment income 3.26 2.92 2.43 2.46 3.28
Portfolio turnover (%)3 12 10 8 10 17
    
   
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
MULTIFACTOR EMERGING MARKETS ETF
Period ended 4-30-23 4-30-22 4-30-21 4-30-20 4-30-191
Per share operating performance          
Net asset value, beginning of period $26.33 $31.19 $21.61 $25.87 $25.00
Net investment income2 0.79 0.72 0.50 0.66 0.14
Net realized and unrealized gain (loss) on investments (2.21) (4.79) 9.57 (4.29) 0.78
Total from investment operations (1.42) (4.07) 10.07 (3.63) 0.92
Less distributions          
From net investment income (0.66) (0.79) (0.49) (0.63) (0.05)
Net asset value, end of period $24.25 $26.33 $31.19 $21.61 $25.87
Total return (%)3 (5.32) (13.33) 46.99 (14.44) 3.714
Ratios and supplemental data          
Net assets, end of period (in millions) $703 $661 $736 $685 $818
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.58 0.56 0.55 0.67 0.715
Expenses including reductions 0.49 0.49 0.49 0.55 0.555
Net investment income 3.28 2.43 1.89 2.69 0.975
Portfolio turnover (%)6 10 12 25 22 3
    
   
1 Period from 9-27-18 (commencement of operations) to 4-30-19.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized.
6 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
60 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
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MULTIFACTOR LARGE CAP ETF
Period ended 4-30-23 4-30-22 4-30-21 4-30-20 4-30-19
Per share operating performance          
Net asset value, beginning of period $52.21 $53.37 $36.16 $37.97 $34.52
Net investment income1 0.76 0.63 0.66 0.73 0.70
Net realized and unrealized gain (loss) on investments 0.012 (1.15) 17.30 (1.83) 3.25
Total from investment operations 0.77 (0.52) 17.96 (1.10) 3.95
Less distributions          
From net investment income (0.72) (0.64) (0.75) (0.71) (0.50)
Net asset value, end of period $52.26 $52.21 $53.37 $36.16 $37.97
Total return (%)3 1.57 (1.06) 50.22 (3.04) 11.74
Ratios and supplemental data          
Net assets, end of period (in millions) $719 $782 $706 $789 $922
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.32 0.32 0.31 0.34 0.35
Expenses including reductions 0.29 0.29 0.29 0.33 0.34
Net investment income 1.51 1.12 1.50 1.92 1.96
Portfolio turnover (%)4 5 4 7 6 6
    
   
1 Based on average daily shares outstanding.
2 The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of the sales and repurchases of shares in relation to fluctuating market values of the investments of the fund.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
MULTIFACTOR MID CAP ETF
Period ended 4-30-23 4-30-22 4-30-21 4-30-20 4-30-19
Per share operating performance          
Net asset value, beginning of period $48.75 $51.54 $32.39 $36.60 $34.04
Net investment income1 0.60 0.44 0.39 0.48 0.53
Net realized and unrealized gain (loss) on investments (1.28) (2.83) 19.23 (4.29) 2.44
Total from investment operations (0.68) (2.39) 19.62 (3.81) 2.97
Less distributions          
From net investment income (0.54) (0.40) (0.47) (0.40) (0.41)
Net asset value, end of period $47.53 $48.75 $51.54 $32.39 $36.60
Total return (%)2 (1.37) (4.72) 61.03 (10.56) 8.98
Ratios and supplemental data          
Net assets, end of period (in millions) $2,961 $2,411 $2,163 $1,331 $1,030
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.42 0.42 0.42 0.43 0.45
Expenses including reductions 0.42 0.41 0.41 0.42 0.44
Net investment income 1.28 0.84 0.96 1.33 1.53
Portfolio turnover (%)3 14 10 20 11 13
    
   
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL | JOHN HANCOCK MULTIFACTOR ETFS 61
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MULTIFACTOR SMALL CAP ETF
Period ended 4-30-23 4-30-22 4-30-21 4-30-20 4-30-19
Per share operating performance          
Net asset value, beginning of period $31.99 $35.30 $21.77 $26.89 $25.69
Net investment income1 0.35 0.31 0.36 0.33 0.29
Net realized and unrealized gain (loss) on investments (0.38) (3.23) 13.51 (5.13) 1.16
Total from investment operations (0.03) (2.92) 13.87 (4.80) 1.45
Less distributions          
From net investment income (0.35) (0.39) (0.34) (0.32) (0.25)
Net asset value, end of period $31.61 $31.99 $35.30 $21.77 $26.89
Total return (%)2 (0.06) (8.39) 64.17 (18.07) 5.71
Ratios and supplemental data          
Net assets, end of period (in millions) $340 $377 $426 $463 $439
Ratios (as a percentage of average net assets):          
Expenses before reductions 0.47 0.45 0.45 0.55 0.60
Expenses including reductions 0.42 0.42 0.42 0.49 0.50
Net investment income 1.12 0.90 1.31 1.30 1.13
Portfolio turnover (%)3 44 40 56 36 33
    
   
1 Based on average daily shares outstanding.
2 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
3 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
62 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
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Notes to financial statements
Note 1—Organization
John Hancock Exchange-Traded Fund Trust (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, five of which are presented in this report (the funds). 
The investment objective of each fund is to seek to provide investment results that closely correspond, before fees and expenses, to the performance of their respective Index as listed below:
ETF Index
Multifactor Developed International ETF John Hancock Dimensional Developed International Index
Multifactor Emerging Markets ETF John Hancock Dimensional Emerging Markets Index
Multifactor Large Cap ETF John Hancock Dimensional Large Cap Index
Multifactor Mid Cap ETF John Hancock Dimensional Mid Cap Index
Multifactor Small Cap ETF John Hancock Dimensional Small Cap Index
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The funds qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the funds:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Advisor’s Valuation Policies and Procedures.
In order to value the securities, the funds use the following valuation techniques: Equity securities, including exchange-traded and closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there  were no sales during the day or closing prices are not available, the securities are valued using  the last available bid price. Investments by the funds in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor valued at London close.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor may use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
The funds use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
The following is a summary of the values by input classification of the funds’ investments as of April 30, 2023, by major security category or type:
  Total
value at
4-30-23 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Multifactor Developed International ETF        
Investments in securities:        
Assets        
  ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 63
Table of Contents
  Total
value at
4-30-23 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Multifactor Developed International ETF (continued)        
Common stocks        
Australia   $34,464,489   $34,464,489 — —
Austria   1,065,363   1,065,363 — —
Belgium   4,661,842   4,661,842 — —
Chile   277,595   277,595 — —
Denmark   14,975,995   14,975,995 — —
Finland   6,491,941   6,491,941 — —
France   56,005,244   56,005,244 — —
Germany   35,262,788   35,262,788 — —
Hong Kong   10,694,398   10,694,398 — —
Ireland   5,104,597   5,104,597 — —
Israel   1,725,763   1,725,763 — —
Italy   11,223,796   11,223,796 — —
Japan   110,104,749   110,104,749 — —
Luxembourg   1,380,782   1,380,782 — —
Macau   100,758   100,758 — —
Malaysia   205,312   205,312 — —
Mexico   86,796   86,796 — —
Netherlands   21,290,104   21,290,104 — —
New Zealand   795,577   795,577 — —
Norway   2,597,926   2,597,926 — —
Portugal   1,347,787   1,347,787 — —
Singapore   7,799,643   7,799,643 — —
Spain   13,078,760   13,078,760 — —
Sweden   13,837,660   13,837,660 — —
Switzerland   48,341,634   48,341,634 — —
United Arab Emirates   13 —   $13 —
United Kingdom   74,329,538   74,329,538 — —
United States   31,938   31,938 — —
Preferred securities   3,302,683   3,302,683 — —
Rights — — — —
Short-term investments   18,093,844   18,093,844 — —
Total investments in securities   $498,679,315   $498,679,302   $13 —
Level 3 includes securities valued at $0. Refer to Funds’ investments.
 
Multifactor Emerging Markets ETF        
Investments in securities:        
Assets        
Common stocks        
Brazil   $27,306,048   $27,306,048 — —
Cayman Islands   244,092   244,092 — —
Chile   3,170,709   3,170,709 — —
China   165,722,464   165,722,464 — —
Hong Kong   10,863,764   10,863,764 — —
India   135,491,827   135,491,827 — —
Indonesia   18,612,234   18,612,234 — —
Ireland   2,013,287   2,013,287 — —
Malaysia   13,101,323   13,101,323 — —
Mexico   20,409,809   20,409,809 — —
Netherlands   383,286   383,286 — —
Philippines   7,808,218   7,808,218 — —
Poland   6,087,590   6,087,590 — —
Russia   390,689 — —   $390,689
Saudi Arabia   25,383,753   25,383,753 — —
64 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
Table of Contents
  Total
value at
4-30-23 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Multifactor Emerging Markets ETF (continued)        
South Africa   $28,188,864   $28,188,864 — —
South Korea   89,839,319   89,839,319 — —
Taiwan   115,260,705   115,260,705 — —
Thailand   15,987,962   15,987,962 — —
Turkey   3,532,189   3,532,189 — —
United Kingdom   96,271   96,271 — —
United States   1,183,014   1,183,014 — —
Preferred securities   11,295,706   11,295,706 — —
Rights   1,365   1,365 — —
Short-term investments   1,479,686   1,479,686 — —
Total investments in securities   $703,854,174   $703,463,485 —   $390,689
 
Multifactor Large Cap ETF        
Investments in securities:        
Assets        
Common stocks        
Communication services   $45,650,323   $45,650,323 — —
Consumer discretionary   70,270,008   70,270,008 — —
Consumer staples   51,513,150   51,513,150 — —
Energy   35,001,246   35,001,246 — —
Financials   100,174,155   100,174,155 — —
Health care   97,267,610   97,249,452 —   $18,158
Industrials   84,232,478   84,232,478 — —
Information technology   151,333,863   151,333,863 — —
Materials   30,262,132   30,262,132 — —
Real estate   21,395,691   21,395,691 — —
Utilities   30,685,536   30,685,536 — —
Short-term investments   662,963   662,963 — —
Total investments in securities   $718,449,155   $718,430,997 —   $18,158
 
Multifactor Mid Cap ETF        
Investments in securities:        
Assets        
Common stocks        
Communication services   $95,813,286   $95,813,286 — —
Consumer discretionary   373,579,825   373,579,825 — —
Consumer staples   140,417,974   140,417,974 — —
Energy   140,669,428   140,669,428 — —
Financials   406,732,456   406,732,456 — —
Health care   348,003,290   347,718,948 —   $284,342
Industrials   541,439,085   541,439,085 — —
Information technology   384,980,306   384,980,306 — —
Materials   196,646,572   196,646,572 — —
Real estate   153,227,849   153,227,849 — —
Utilities   174,041,980   174,041,980 — —
Short-term investments   5,770,243   5,770,243 — —
Total investments in securities   $2,961,322,294   $2,961,037,952 —   $284,342
 
Multifactor Small Cap ETF        
Investments in securities:        
Assets        
Common stocks   $339,480,131   $339,480,131 — —
Short-term investments   1,056,210   1,056,210 — —
Total investments in securities   $340,536,341   $340,536,341 — —
  ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 65
Table of Contents
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Real estate investment trusts. The funds may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the funds will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Securities lending. The funds may lend their securities to earn additional income. The funds receive collateral from the borrower in an amount not less than the market value of the loaned securities. The funds may invest their cash collateral in JHCT, an affiliate of the funds, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. Each fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.
The funds have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the funds for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the funds could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the funds will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The funds receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the funds is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.
Obligations to repay collateral received by the funds are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the funds and the corresponding cash collateral received at April 30, 2023. In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the funds, and accordingly, is not reflected in the funds’ net assets.
Fund Market value of securities on loan Cash collateral received Non-cash collateral
Multifactor Developed International ETF   $25,583,198   $17,289,488   $9,797,108
Multifactor Emerging Markets ETF   3,896,499   322,564   3,786,459
Multifactor Large Cap ETF   891,024   188,878   741,646
Multifactor Mid Cap ETF   9,183,941   1,157,219   8,453,282
Multifactor Small Cap ETF   2,073,177   620,760   1,534,861
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
There may be unexpected restrictions on investments or on exposures to investments in companies located in certain foreign countries, such as China. For example, a government may restrict investment in companies or industries considered important to national interests, or intervene in the financial markets, such as by imposing trading restrictions, or banning or curtailing short selling. As a result of forced sales of a security, or inability to participate in an investment the manager otherwise believes is attractive, a fund may incur losses.
Trading in certain Chinese securities through Hong Kong Stock Connect or Bond Connect, mutual market access programs that enable foreign investment in the People’s Republic of China, is subject to certain restrictions and risks. Securities offered through these programs may lose purchase eligibility and any changes in laws, regulations and policies impacting these programs may affect security prices, which could adversely affect the funds’ performance.
Foreign taxes. The funds may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the funds’ understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the funds as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
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Overdraft. The funds may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the funds’ custodian agreement, the custodian may loan money to the funds to make properly authorized payments. The funds are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The funds and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.
A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating fund based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations. For the year ended April 30, 2023, the funds had no borrowings under the line of credit.
Commitment fees for the year ended April 30, 2023 were as follows:
Fund Commitment fee
Multifactor Developed International ETF   $4,779
Multifactor Emerging Markets ETF   5,519
Multifactor Large Cap ETF   5,766
Multifactor Mid Cap ETF   12,033
Multifactor Small Cap ETF   4,329
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Federal income taxes. Each fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of April 30, 2023, certain funds have short-term and long-term capital loss carryforwards available to offset future net realized capital gains. These carryforwards do not expire. The following table details the capital loss carryforwards available as of April 30, 2023:
  No Expiration Date
Fund Short Term Long Term
Multifactor Developed International ETF   $20,073,261   $35,030,597
Multifactor Emerging Markets ETF   22,892,829   36,932,954
Multifactor Large Cap ETF   18,625,742   31,017,739
Multifactor Mid Cap ETF   113,117,852   46,709,259
Multifactor Small Cap ETF   68,951,848   32,614,968
Due to certain Internal Revenue Code rules, utilization of the capital loss carryforwards may be limited in future years.
As of April 30, 2023, the funds had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The funds’ federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
For federal income tax purposes, the costs of investments owned on April 30, 2023, including short-term investments, were as follows:
Fund Aggregate
cost 		Unrealized
appreciation 		Unrealized
(depreciation) 		Net unrealized
appreciation/
(depreciation)
Multifactor Developed International ETF   $455,034,211   $66,365,055   $(22,719,951)   $43,645,104
Multifactor Emerging Markets ETF   696,281,564   99,127,689   (91,555,079)   7,572,610
Multifactor Large Cap ETF   645,116,078   120,870,050   (47,536,973)   73,333,077
Multifactor Mid Cap ETF   2,731,250,061   404,879,218   (174,806,985)   230,072,233
Multifactor Small Cap ETF   322,022,273   37,149,608   (18,635,540)   18,514,068
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The funds generally declare and pay dividends at least semiannually from net investment income, if any. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the year ended April 30, 2023 was as follows:
Fund Ordinary
Income
Multifactor Developed International ETF   $12,810,369
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Fund Ordinary
Income
Multifactor Emerging Markets ETF   $18,390,167
Multifactor Large Cap ETF   10,582,221
Multifactor Mid Cap ETF   30,114,715
Multifactor Small Cap ETF   3,723,992
The tax character of distributions for the year ended April 30, 2022 was as follows:
Fund Ordinary
Income
Multifactor Developed International ETF   $16,282,455
Multifactor Emerging Markets ETF   18,823,632
Multifactor Large Cap ETF   8,541,390
Multifactor Mid Cap ETF   18,319,101
Multifactor Small Cap ETF   4,761,782
As of April 30, 2023, the components of distributable earnings on a tax basis were as follows:
Fund Undistributed
Ordinary Income
Multifactor Developed International ETF   $7,141,913
Multifactor Emerging Markets ETF   6,747,040
Multifactor Large Cap ETF   3,028,556
Multifactor Mid Cap ETF   8,526,542
Multifactor Small Cap ETF   563,181
Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the funds’ financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to investments in passive foreign investment companies, wash sale loss deferrals, redemptions-in-kind and foreign currency transactions.
Note 3—Derivative instruments
The funds may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the funds are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the funds and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the funds to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the funds to unlimited risk of loss.
Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by a fund, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the funds, if any, are identified in the Funds’ investments. Subsequent payments, referred to as variation margin, are made or received by a fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, a fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
The following table details how the funds used futures contracts during the year ended April 30, 2023. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
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Fund Reason USD Notional range
Multifactor Developed International ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2023, there were no open futures contracts. Up to $10.7 million, as measured during the period
Multifactor Emerging Markets ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2023, there were no open futures contracts. Up to $7.9 million, as measured during the period
Multifactor Large Cap ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2023, there were no open futures contracts. Up to $2.0 million, as measured during the period
Multifactor Mid Cap ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2023, there were no open futures contracts. Up to $12.7 million, as measured during the period
Multifactor Small Cap ETF The fund used futures contracts to meet the transactional needs of the portfolio and to equitize cash balances, if needed. As of April 30, 2023, there were no open futures contracts. Up to $5.3 million, as measured during the period
Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended April 30, 2023:
    Statements of operations location - Net realized gain (loss) on:
Fund Risk Futures contracts
Multifactor Developed International ETF Equity   $(411,178)
Multifactor Emerging Markets ETF Equity   $(211,500)
Multifactor Large Cap ETF Equity   $(110,379)
Multifactor Mid Cap ETF Equity   $(306,545)
Multifactor Small Cap ETF Equity   $47,318
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the funds. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the funds. The Advisor is an indirect, principally owned subsidiary of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation (MFC).
Management fee. The funds have an investment management agreement with the Advisor under which each fund pays a monthly management fee to the Advisor equivalent on an annual basis as detailed below. The Advisor has a subadvisory agreement with Dimensional Fund Advisors LP. The funds are not responsible for payment of the subadvisory fees.
The management fee structure is as follows:
Fund Average daily net assets
Multifactor Developed International ETF 0.35%
Multifactor Emerging Markets ETF 0.44%
Multifactor Large Cap ETF 0.26%
Fund Average daily net assets
Multifactor Mid Cap ETF 0.37%
Multifactor Small Cap ETF 0.39%
   
 
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the funds (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of the funds. During the year ended April 30, 2023, this waiver amounted to 0.01% of the funds’ average daily net assets. This arrangement expires on July 31, 2024, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to reduce its management fee or, if necessary, make a payment to each fund, in an amount equal to the amount by which expenses of the fund exceed the following:
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Fund Expense
limitation as a
percentage of
average net
assets
Multifactor Developed International ETF 0.39%
Multifactor Emerging Markets ETF 0.49%
Multifactor Large Cap ETF 0.29%
Fund Expense
limitation as a
percentage of
average net
assets
Multifactor Mid Cap ETF 0.42%
Multifactor Small Cap ETF 0.42%
Expenses means all the expenses of the funds, excluding taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the funds’ business, borrowing costs, prime brokerage fees, acquired fund fees and expenses paid indirectly, and short dividend expense. The funds’ expense limitation agreement expires on August 31, 2023, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The expense reductions described above amount to the following for the year ended April 30, 2023.
Fund Expense reimbursement
Multifactor Developed International ETF   $189,234
Multifactor Emerging Markets ETF   578,491
Multifactor Large Cap ETF   242,653
Fund Expense reimbursement
Multifactor Mid Cap ETF   $191,858
Multifactor Small Cap ETF   158,810
 
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended April 30, 2023, were equivalent to a net annual effective rate of the funds’ average daily net assets:
Fund Net Annual Effective Rate
Multifactor Developed International ETF 0.31%
Multifactor Emerging Markets ETF 0.35%
Multifactor Large Cap ETF 0.23%
Fund Net Annual Effective Rate
Multifactor Mid Cap ETF 0.36%
Multifactor Small Cap ETF 0.34%
 
Accounting and legal services.Pursuant to a service agreement, the funds reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the funds, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These accounting and legal services fees incurred, for the year ended April 30, 2023, amounted to an annual rate of 0.02% of the funds’ average daily net assets. 
Trustee expenses. The funds compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on their net assets relative to other funds within the John Hancock group of funds complex.
Note 6—Capital share transactions
Each fund will issue and redeem shares only in a large number of specified shares, each called a “creation unit,” or multiples thereof. Multifactor Large Cap ETF, Multifactor Mid Cap ETF, and Multifactor Small Cap ETF issue and redeem shares at NAV in creation units of 25,000 shares. Multifactor Developed International ETF and Multifactor Emerging Markets ETF issue and redeem shares at NAV in creation units of 100,000 shares.
Only authorized participants may engage in creation or redemption transactions directly with the funds. Such transactions generally take place when an authorized participant deposits into a fund a designated portfolio of securities (including any portion of such securities for which cash may be substituted) and a specified amount of cash approximating the holdings of the fund in exchange for a specified number of creation units. Similarly, shares can be redeemed only in creation units, generally for a designated portfolio of securities (including any portion of such securities for which cash may be substituted) held by a fund and a specified amount of cash. For purposes of US GAAP, in-kind redemption transactions are treated as a sale of securities and any resulting gains and losses are recognized based on the market value of the securities on the date of the transfer. Authorized participants pay a transaction fee to the custodian when purchasing and redeeming creation units of the funds. The transaction fee is used to defray the costs associated with the issuance and redemption of creation units. Individual shares of the funds may only be purchased and sold in secondary market transactions through brokers. Secondary market transactions may be subject to brokerage commissions. Shares of the funds are listed and traded on the NYSE Arca, Inc., trade at market prices rather than NAV, and may trade at a price greater than or less than NAV.
Authorized participants transacting in creation or redemption of units for cash may also pay an additional variable charge to compensate the relevant fund for the costs associated with purchasing or selling the applicable securities. For the year ended April 30, 2023, such variable charges were approximately $426 and $122,161 for Multifactor Developed International ETF and Multifactor Emerging Markets ETF, respectively. These charges are included in shares issued or repurchased on the Statements of Changes in Net Assets.
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Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, are aggregated below for the year ended April 30, 2023. In addition, purchases and sales of in-kind transactions are aggregated below for the year ended April 30, 2023:
  Purchases Sales and maturities
Fund In-kind transactions Non in-kind transactions In-kind transactions Non in-kind transactions
Multifactor Developed International ETF   $27,714,185   $66,480,676   $54,422,131   $55,033,449
Multifactor Emerging Markets ETF   18,595,451   156,246,489   9,797,166   68,765,771
Multifactor Large Cap ETF   85,724,439   35,543,200   146,942,120   35,150,151
Multifactor Mid Cap ETF   850,287,013   375,475,982   237,716,658   371,026,125
Multifactor Small Cap ETF   81,619,120   152,421,326   112,900,527   151,731,615
Note 8—Industry or sector risk
Certain funds may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a fund’s assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund’s NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors. Financial services companies can be hurt by economic declines, changes in interest rates, and regulatory and market impacts.
Note 9—Emerging-market risk
Foreign investing especially in emerging markets, has additional risks, such as currency and market volatility and political and social instability. Funds that invest a significant portion of assets in the securities of issuers based in countries with emerging market economies are subject to greater levels of foreign investment risk than funds investing primarily in more-developed foreign markets, since emerging-market securities may present other risks greater than, or in addition to, the risks of investing in developed foreign countries.
Note 10—Investment by affiliated funds
Certain investors in the funds are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the funds for the purpose of exercising management or control; however, this investment may represent a significant portion of the funds’ net assets. At April 30, 2023, funds within the John Hancock group of funds complex had the following affiliate ownership as a percentage of the funds’ net assets (funds with an affiliate ownership of 5% or more are disclosed separately):
Fund Affiliated fund Affiliated Concentration
Multifactor Developed International ETF John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 37.96%
  John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio 17.67%
  Other affiliated funds 2.68%
  Total 58.30%
Multifactor Emerging Markets ETF John Hancock Funds II Multimanager Lifestyle Growth Portfolio 28.97%
  John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 18.58%
  John Hancock Funds II Multimanager Lifestyle Balanced Portfolio 17.97%
  John Hancock Funds II Multimanager Lifestyle Aggressive Portfolio 10.74%
  John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio 9.04%
  Other affiliated funds 5.27%
  Total 90.58%
Multifactor Mid Cap ETF Total other affiliated funds 7.11%
Multifactor Small Cap ETF John Hancock Variable Insurance Trust Managed Volatility Growth Portfolio 33.83%
  John Hancock Variable Insurance Trust Managed Volatility Balanced Portfolio 16.00%
  Other affiliated funds 4.23%
  Total 54.07%
Note 11—Investment in affiliated underlying funds
The funds may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the funds’ fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the funds, if any, is as follows:
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              Dividends and distributions
Affiliate Ending
share
amount 		Beginning
value 		Cost of
purchases 		Proceeds
from shares
sold 		Realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Income
distributions
received 		Capital gain
distributions
received 		Ending
value
Multifactor Developed International ETF
John Hancock Collateral Trust* 1,729,784   $10,869,912   $68,029,227   $(61,608,124)   $1,437   $374   $110,175 —   $17,292,826
Multifactor Emerging Markets ETF
John Hancock Collateral Trust* 32,329   $2,767,388   $9,082,745   $(11,527,301)   $257   $111   $42,613 —   $323,200
Multifactor Large Cap ETF
John Hancock Collateral Trust* 18,901   $468,378   $4,319,993   $(4,599,436) —   $23   $12,477 —   $188,958
Multifactor Mid Cap ETF
John Hancock Collateral Trust* 114,747   $7,902,546   $62,413,341   $(69,165,931)   $(3,223)   $400   $248,483 —   $1,147,133
Multifactor Small Cap ETF
John Hancock Collateral Trust* 61,980   $761,349   $16,952,294   $(17,093,675)   $(346)   $1   $36,805 —   $619,623
    
* Refer to the Securities lending note within Note 2 for details regarding this investment.
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Report of Independent Registered Public Accounting Firm
To the Board of Trustees of John Hancock Exchange-Traded Fund Trust and Shareholders of Multifactor Developed International ETF, Multifactor Emerging Markets ETF, Multifactor Large Cap ETF, Multifactor Mid Cap ETF, and Multifactor Small Cap ETF
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the funds’ investments, of Multifactor Developed International ETF, Multifactor Emerging Markets ETF, Multifactor Large Cap ETF, Multifactor Mid Cap ETF, and Multifactor Small Cap ETF (five of the funds constituting John Hancock Exchange-Traded Fund Trust, hereafter collectively referred to as the "Funds") as of April 30, 2023, the related statements of operations for the year ended April 30, 2023, the statements of changes in net assets for each of the two years in the period ended April 30, 2023, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of April 30, 2023, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended April 30, 2023 and each of the financial highlights for each of the periods indicated therein, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of April 30, 2023 by correspondence with the custodian, transfer agent and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
June 5, 2023
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
  ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 73
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Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the funds, if any, paid during its taxable year ended April 30, 2023.
Each fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
Each fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Each fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
Each fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Fund Foreign sourced income Foreign tax credit
Multifactor Developed International ETF $17,813,856 $1,202,828
Multifactor Emerging Markets ETF 29,097,790 3,574,816
Eligible shareholders will be mailed a 2023 Form 1099-DIV in early 2024. This will reflect the tax character of all distributions paid in calendar year 2023.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
74 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
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STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Multifactor Developed International ETF, John Hancock Multifactor Emerging Markets ETF, John Hancock Multifactor Large Cap ETF, John Hancock Multifactor Mid Cap ETF, and John Hancock Multifactor Small Cap ETF, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Funds’ subadvisor(s), Dimensional Fund Advisors LP (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee receives monthly reports and holds quarterly in person meetings to: (1) review the day-to-day operations of the LRMP; (2) monitor current market and liquidity conditions and assess liquidity risks; (3) review and approve month-end liquidity classifications; (4) monitor illiquid investment levels against the 15% limit on illiquid investments and established Highly Liquid Investment Minimums (HLIMs), if any; (5) review quarterly testing and determinations, as applicable; (6) review redemption-in-kind activities; and (7) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity issues. The Committee also monitors global events, such as the ongoing Russian invasion of Ukraine and related U.S. imposed sanctions on the Russian government, companies and oligarchs, and other amendments to the Office of Foreign Assets Control sanctioned company lists, that could impact the markets and liquidity of portfolio investments and their classifications. In addition, the Committee monitors macro events and assesses their potential impact on liquidity brought on by fear of contagion (e.g. regional banking crisis).
The Committee provided the Board at a meeting held on March 28-30, 2023 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2022 through December 31, 2022, included an assessment of important aspects of the LRMP including, but not limited to: (1) Security-level liquidity classifications; (2) Fund-level liquidity risk assessment; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) HLIM determination and daily monitoring; (5) Daily compliance with the 15% limit on illiquid investments; (6) Operation of the Fund’s Redemption-In-Kind Procedures; and (7) Review of liquidity management facilities.
The report provided an update on Committee activities over the previous year. Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2022 and key initiatives for 2023.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.
The report stated, in relevant part, that during the period covered by the report:
• The Fund’s investment strategy remained appropriate for an open-end fund structure;
• The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund;
• The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission;
• The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and
• The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures.
Adequacy and Effectiveness
Based on the annual review and assessment conducted by the Committee, the Committee has determined that the LRMP and its controls have been implemented and are operating in a manner that is adequately and effectively managing the liquidity risk of the Fund.
  ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 75
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Trustees and Officers
This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.
Independent Trustees    
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years 		Trustee
of the
Trust
since1 		Number of John
Hancock funds
overseen by
Trustee
Hassell H. McClellan, Born: 1945 2015 186
Trustee and Chairperson of the Board    
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex.
James R. Boyle, Born: 1959 2015 183
Trustee    
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015).
William H. Cunningham,2 Born: 1944 2015 184
Trustee    
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986).
Noni L. Ellison,* Born: 1971 2022 183
Trustee    
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Grace K. Fey, Born: 1946 2015 186
Trustee    
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Dean C. Garfield,* Born: 1968 2022 183
Trustee    
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Deborah C. Jackson, Born: 1952 2015 185
Trustee    
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Patricia Lizarraga,2,* Born: 1966 2022 183
Trustee    
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
76 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
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Independent Trustees (continued)    
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years 		Trustee
of the
Trust
since1 		Number of John
Hancock funds
overseen by
Trustee
Steven R. Pruchansky, Born: 1944 2015 183
Trustee and Vice Chairperson of the Board    
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex.
Frances G. Rathke,2 Born: 1960 2020 183
Trustee    
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020).
Gregory A. Russo, Born: 1949 2015 183
Trustee    
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
    
Non-Independent Trustees3    
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years 		Trustee
of the
Trust
since1 		Number of John
Hancock funds
overseen by
Trustee
Andrew G. Arnott, Born: 1971 2017 184
President and Non-Independent Trustee    
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017).
Marianne Harrison,^ Born: 1963 2018 183
Non-Independent Trustee    
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018).
Paul Lorentz,† Born: 1968 2022 183
Non-Independent Trustee    
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
    
  ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 77
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Principal officers who are not Trustees  
Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years 		Current
Position(s)
with the
Trust
since
Charles A. Rizzo, Born: 1957 2015
Chief Financial Officer  
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007).
Salvatore Schiavone, Born: 1965 2015
Treasurer  
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions).
Christopher (Kit) Sechler, Born: 1973 2018
Secretary and Chief Legal Officer  
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions).
Trevor Swanberg, Born: 1979 2020
Chief Compliance Officer  
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions).
The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.
The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-6020.
1 Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee’s death, retirement, resignation, or removal.
2 Member of the Audit Committee.
3 The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.
* Elected to serve as Independent Trustee effective as of September 9, 2022.
^ Ms. Harrison is retiring effective May 1, 2023.
† Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
78 JOHN HANCOCK MULTIFACTOR ETFS | ANNUAL REPORT  
Table of Contents
More information
Trustees
Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†,#
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
Officers
Andrew G. Arnott
President
Charles A. Rizzo
Chief Financial Officer
Salvatore Schiavone
Treasurer
Christopher (Kit) Sechler
Secretary and Chief Legal Officer
Trevor Swanberg
Chief Compliance Officer
Investment advisor
John Hancock Investment Management LLC
Subadvisor
Dimensional Fund Advisors LP
Portfolio Managers
Casey Baum
Rita Chen
Joseph Hohn
Andres Torres
Principal distributor
Foreside Fund Services, LLC
Custodian
State Street Bank and Trust Company
Transfer agent
State Street Bank and Trust Company
Legal counsel
Dechert LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP
† Non-Independent Trustee
* Member of the Audit Committee
^ Elected to serve as Independent Trustee effective as of September 9, 2022.
#Ms. Harrison is retiring effective May 1, 2023.
‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
The funds’ proxy voting policies and procedures, as well as the funds’ proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the funds’ holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The funds’ Form N-PORT filings are available on our website and the SEC’s website, sec.gov.
We make this information on your funds’, as well as monthly portfolio holdings, and other funds’ details available on our website at jhinvestments.com/etf or by calling 800-225-6020.
You can also contact us:  
800-225-6020 Regular mail:
jhinvestments.com/etf John Hancock Investment Management
200 Berkeley Street
Boston, MA 02116
  ANNUAL REPORT | JOHN HANCOCK MULTIFACTOR ETFS 79
Table of Contents
Table of Contents
John Hancock family of funds
U.S. EQUITY FUNDS
Blue Chip Growth
Classic Value
Disciplined Value
Disciplined Value Mid Cap
Equity Income
Financial Industries
Fundamental All Cap Core
Fundamental Large Cap Core
Mid Cap Growth
New Opportunities
Regional Bank
Small Cap Core
Small Cap Growth
Small Cap Value
U.S. Global Leaders Growth
U.S. Growth
INTERNATIONAL EQUITY FUNDS
Disciplined Value International
Emerging Markets
Emerging Markets Equity
Fundamental Global Franchise
Global Environmental Opportunities
Global Equity
Global Shareholder Yield
Global Thematic Opportunities
International Dynamic Growth
International Growth
International Small Company
FIXED-INCOME FUNDS
Bond
California Municipal Bond
Emerging Markets Debt
Floating Rate Income
Government Income
High Yield
High Yield Municipal Bond
Income
Investment Grade Bond
Money Market
Municipal Opportunities
Opportunistic Fixed Income
Short Duration Bond
Short Duration Municipal Opportunities
Strategic Income Opportunities
ALTERNATIVE FUNDS
Alternative Asset Allocation
Diversified Macro
Infrastructure
Multi-Asset Absolute Return
Real Estate Securities
Seaport Long/Short
A fund’s investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
Table of Contents
EXCHANGE-TRADED FUNDS
John Hancock Corporate Bond ETF
John Hancock International High Dividend ETF
John Hancock Mortgage-Backed Securities ETF
John Hancock Multifactor Developed International ETF
John Hancock Multifactor Emerging Markets ETF
John Hancock Multifactor Large Cap ETF
John Hancock Multifactor Mid Cap ETF
John Hancock Multifactor Small Cap ETF
John Hancock Preferred Income ETF
John Hancock U.S. High Dividend ETF
ASSET ALLOCATION/TARGET DATE FUNDS
Balanced
Multi-Asset High Income
Lifestyle Blend Portfolios
Lifetime Blend Portfolios
Multimanager Lifestyle Portfolios
Multimanager Lifetime Portfolios
Preservation Blend Portfolios
ENVIRONMENTAL, SOCIAL, AND
GOVERNANCE FUNDS
ESG Core Bond
ESG International Equity
ESG Large Cap Core
CLOSED-END FUNDS
Asset-Based Lending
Financial Opportunities
Hedged Equity & Income
Income Securities Trust
Investors Trust
Preferred Income
Preferred Income II
Preferred Income III
Premium Dividend
Tax-Advantaged Dividend Income
Tax-Advantaged Global Shareholder Yield
John Hancock ETF shares are bought and sold at market price (not NAV), and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no representation as to the advisability of investing in, John Hancock Multifactor ETFs.
Table of Contents
A trusted brand
John Hancock Investment Management is a premier asset manager
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
“A trusted brand” is based on a survey of 6,651 respondents conducted by Medallia between 3/18/20 and 5/13/20.
John Hancock Investment Management LLC, 200 Berkeley Street, Boston, MA 02116, 800-225-6020, jhinvestments.com/etf
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Multifactor ETFs. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
JHAN-20180615-0136 ETFSA 4/2023
6/2023

Annual report
John Hancock
ETFs
April 30, 2023
A message to shareholders
Dear shareholder,
The financial markets posted mixed results during the 12 months ended April 30, 2023, with a gain for stocks offset by weaker performance for bonds. Equities initially trended lower through the first half of the period due to the seemingly open-ended nature of interest-rate increases by the U.S. Federal Reserve and other global central banks, but they rebounded from October onward as investors grew hopeful that rates were likely to peak in 2023. The market was also helped by economic data and corporate earnings that came in ahead of lowered expectations. The gains were concentrated in the large-cap stocks, however, as smaller caps were disproportionately hurt by the combination of rising rates, the prospect of slowing growth, and turmoil in the U.S. banking sector later in the period.
Rising rates had a larger adverse effect on bonds relative to equities, leading to poor returns across the maturity spectrum for both rate- and credit-sensitive investments.
In these uncertain times, your financial professional can assist with positioning your portfolio so that it’s sufficiently diversified to help meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I’d like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you’ve placed in us.
Sincerely,
Andrew G. Arnott
Global Head of Retail,
Manulife Investment Management
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO’s views as of this report’s period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
ETFs
Table of contents
2 Exchange-traded funds (ETFs) at a glance
8 Management’s discussion of fund performance
10 Corporate Bond ETF 
11 Mortgage-Backed Securities ETF 
12 Preferred Income ETF 
13 U.S. High Dividend ETF 
14 Your expenses
16 Funds’ investments
32 Financial statements
36 Financial highlights
39 Notes to financial statements
47 Report of independent registered public accounting firm
48 Tax information
49 Evaluation of advisory and subadvisory agreements by the Board of Trustees
53 Statement regarding liquidity risk management
54 Trustees and Officers
57 More information
  ANNUAL REPORT | JOHN HANCOCK ETFS 1
Table of Contents
Exchange-traded funds (ETFs) at a glance
Corporate Bond ETF
PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS
The bond markets declined during the 12-month period
While inflation has lessened since its peak in June 2022, it remains at elevated levels as the U.S. Federal Reserve (Fed) continued to raise interest rates in an effort to tamp down rising prices.
John Hancock Corporate Bond ETF underperformed its benchmark
The fund posted a positive return but underperformed the Bloomberg U.S. Corporate Bond Index in a difficult environment for fixed income.
SECTOR COMPOSITION AS OF 4/30/2023 (% of net assets)
QUALITY COMPOSITION AS OF 4/30/2023 (% of net assets)
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-23 and do not reflect subsequent downgrades or upgrades, if any.
2 JOHN HANCOCK ETFS | ANNUAL REPORT  
Table of Contents
COUNTRY COMPOSITION AS OF 4/30/2023 (% of net assets)
United States 88.5
United Kingdom 4.6
Canada 2.7
France 1.3
Germany 1.0
Norway 1.0
Other countries 0.9
TOTAL 100.0
  ANNUAL REPORT | JOHN HANCOCK ETFS 3
Table of Contents
International High Dividend ETF
SECTOR COMPOSITION AS OF 4/30/2023 (% of net assets)
TOP 10 HOLDINGS AS OF 4/30/2023 (% of net assets)
Solvay SA 2.1
Telefonica SA 2.1
Banco Bilbao Vizcaya Argentaria SA 2.1
Publicis Groupe SA 2.1
J Sainsbury PLC 2.1
Mitsui & Company, Ltd. 2.0
CK Hutchison Holdings, Ltd. 2.0
Marubeni Corp. 2.0
Bayerische Motoren Werke AG 2.0
Swire Pacific, Ltd., Class A 2.0
TOTAL 20.5
Cash and cash equivalents are not included.
    
TOP 10 COUNTRIES AS OF 4/30/2023 (% of net assets)
Japan 22.6
United Kingdom 15.7
Germany 8.8
Spain 7.4
Australia 6.7
Hong Kong 5.8
Italy 5.7
France 5.3
Netherlands 4.2
Norway 2.9
TOTAL 85.1
Cash and cash equivalents are not included.
4 JOHN HANCOCK ETFS | ANNUAL REPORT  
Table of Contents
Mortgage-Backed Securities ETF
PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS
The bond markets declined during the 12-month period
While inflation has lessened since its peak in June 2022, it remains at elevated levels as the U.S. Federal Reserve (Fed) continued to raise interest rates in an effort to tamp down rising prices.
John Hancock Mortgage-Backed Securities ETF outperformed its benchmark
The fund posted a negative return but outperformed the Bloomberg U.S. Mortgage-Backed Securities (MBS) Index.
PORTFOLIO COMPOSITION AS OF 4/30/2023 (% of net assets)
QUALITY COMPOSITION AS OF 4/30/2023 (% of net assets)
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-23 and do not reflect subsequent downgrades or upgrades, if any.
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Preferred Income ETF
PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS
The bond markets declined during the 12-month period
While inflation has lessened since its peak in June 2022, it remains at elevated levels as the U.S. Federal Reserve (Fed) continued to raise interest rates in an effort to tamp down rising prices.
John Hancock Preferred Income ETF underperformed its benchmark
The fund posted a negative return and underperformed the ICE BofA U.S. All Capital Securities Index.
SECTOR COMPOSITION AS OF 4/30/2023 (% of net assets)
QUALITY COMPOSITION AS OF 4/30/2023 (% of net assets)
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 4-30-23 and do not reflect subsequent downgrades or upgrades, if any.
COUNTRY COMPOSITION AS OF 4/30/2023 (% of net assets)
United States 85.2
Canada 9.0
Bermuda 3.2
United Kingdom 1.9
Other countries 0.7
TOTAL 100.0
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U.S. High Dividend ETF
PERFORMANCE HIGHLIGHTS OVER THE PERIOD
The equity markets saw gains during the period
Despite significant volatility, the stock market finished the period with gains.
John Hancock U.S. High Dividend ETF outperformed its benchmark
The fund outperformed the MSCI USA High Dividend Yield Index for the abbreviated period.
SECTOR COMPOSITION AS OF 4/30/2023 (% of net assets)
TOP 10 HOLDINGS AS OF 4/30/2023 (% of net assets)
Apple, Inc. 6.4
Microsoft Corp. 5.9
Altria Group, Inc. 2.1
Starwood Property Trust, Inc. 2.1
NVIDIA Corp. 2.0
Exxon Mobil Corp. 2.0
LyondellBasell Industries NV, Class A 2.0
Intuit, Inc. 2.0
Gilead Sciences, Inc. 2.0
Broadcom, Inc. 2.0
TOTAL 28.5
Cash and cash equivalents are not included.
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Management’s discussion of fund performance
Note: John Hancock U.S. High Dividend ETF launched on September 27, 2022. The fund performance communicated below is for the period of September 27, 2022 through April 30, 2023. John Hancock International High Dividend ETF launched on December 20, 2022. It doesn’t have enough performance to warrant discussion in this report.
How did the markets perform during the 12 months ended April 30, 2023?
Equity markets experienced choppy performance during the period, bottoming in October. Since then, equities have trended higher though the banking crisis in March introduced further volatility. The U.S. Federal Reserve (Fed) has continued to tighten policy through a series of rate hikes as the central bank continues to work to get inflation under control. With inflation cooling from highs reached in June 2022, investors priced in a pause, anticipating the Fed wouldn’t take further action, although it did raise rates by another 25 basis points just after period end. The conflict between Russia and Ukraine continues, adding to the economic uncertainty that characterizes the macroeconomic environment.
The fixed-income market also continued to face a difficult environment during the period. Rising interest rates had a larger adverse effect on bonds relative to equities, leading to poor returns across the maturity spectrum for both rate- and credit-sensitive investments.
JOHN HANCOCK CORPORATE BOND ETF (JHCB)
On an NAV basis, the fund slightly underperformed its benchmark, the Bloomberg U.S. Corporate Bond Index, during the 12-month period. The fund’s underperformance is most attributable to its asset allocation. The fund’s yield curve positioning was additive to performance, with the fund’s favorable maturity structure and security selection adding value even as the fund maintained a relatively neutral duration compared with the index. We continue to position the fund defensively, with an emphasis on fundamental research and bottom-up individual security selection.
JOHN HANCOCK MORTGAGE-BACKED SECURITIES ETF (JHMB)
On an NAV basis, the fund outperformed its benchmark, the Bloomberg U.S. Mortgage-Backed Securities Index, on a relative basis. The fund’s exposure to credit-sensitive sectors not included in the benchmark as well as its yield curve positioning were the primary drivers of outperformance. Looking ahead, we believe that yields on residential mortgage-backed securities remain attractive relative to the rest of the bond market, and represent a high-quality asset in an uncertain credit environment.
JOHN HANCOCK PREFERRED INCOME ETF (JHPI)
On an NAV basis, the fund underperformed its benchmark, the ICE BofA U.S. All Capital Securities Index, during a difficult time for fixed income markets. Both asset allocation and security selection detracted from performance. The fund’s use of futures aided performance. At period end, the portfolio maintained its defensive positioning, with an overweight allocation to areas such as utilities and an underweight allocation to the banking sector.
JOHN HANCOCK U.S. HIGH DIVIDEND ETF (JHDV)
On an NAV basis, the fund outperformed its benchmark, the MSCI USA High Dividend Yield, for the abbreviated period. With the equity market bottoming in October, nearly all sectors of the portfolio saw positive performance except for real estate. The fund’s outperformance is most attributable to investment selection within the information technology sector.  Investment selection within energy, financials, and health care were also significant contributors to the fund’s outperformance. The largest detractors from performance were investment selection within the consumer discretionary and communication services sectors. The fund’s underweight to consumer staples also weighed on performance. Our focus within the fund remains on identifying consistent and sustainable high dividend companies which we believe may help to protect the purchasing power of investors’ capital over time.
Can you tell us about portfolio manager changes?
Effective June 30, 2022, Jonas Grazulis, CFA, and James Gearhart, CFA, were added to the portfolio management team of John Hancock Preferred Income ETF. Effective December 31, 2022, Bradley L. Lutz, CFA, left the portfolio management team of John
8 JOHN HANCOCK ETFS | ANNUAL REPORT  
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Hancock Preferred Income ETF. At period end, the portfolio management team for John Hancock Preferred Income ETF is comprised of Joseph H. Bozoyan, CFA, Caryn E. Rothman, CFA, Jonas Grazulis, CFA, and James Gearhart, CFA,
Notes about risk
Each fund is subject to various risks as described in the fund’s prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors, or the markets, generally, and may ultimately affect fund performance. For more information, please refer to the “Principal risk” section of the prospectus. Current and future portfolio holdings are subject to change and risk. Investing involves risk, including the potential loss of principal. There is no guarantee that a fund’s investment strategy will be successful and there can be no assurance that active trading markets for shares will develop or be maintained by market makers or authorized  participants.
A note about the performance shown on the following pages
Net asset value (NAV) performance is based on the NAV calculated each business day. It is calculated in accordance with the standard formula for valuing investment company shares as of the close of regular trading hours on the NYSE (see Note 2 to financial statements). Market price is calculated as follows: (i) for the time periods starting October 3, 2022, the NYSE Arca’s Official Closing Price or, if it more accurately reflects market price at the time as of which NAV is calculated, the bid/ask midpoint as of that time and (ii) for time periods preceding October 3, 2022, the bid/ask midpoint at 4 P.M., Eastern time, when the NAV is typically calculated. Your returns may differ if you traded shares at other times during the day.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Returns for periods shorter than one year are cumulative. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance cited. For the most recent month-end performance, visit jhinvestments.com/etf.
MANAGED BY
John Hancock ETFs are managed by portfolio management teams at Manulife Investment Management (US) LLC.
The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.
  ANNUAL REPORT  | JOHN HANCOCK ETFS 9
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Corporate Bond ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1 		Since fund
inception1
At Net asset value 0.57 -4.56 -9.27
At Market price 0.78 -4.37 -8.89
Bloomberg U.S. Corporate Bond Index 0.68 -4.16 -8.49
    
1 From 3-30-21.
The Bloomberg U.S. Corporate Bond Index tracks the investment grade, fixed-rate, taxable corporate bond market.
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Corporate Bond ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in the Bloomberg U.S. Corporate Bond Index.
The value of a $10,000 investment calculated at market value from inception through period end would be $9,111.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.94
Net (%) 0.29
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
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Mortgage-Backed Securities ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1 		Since fund
inception1
At Net asset value -0.03 -4.46 -7.46
At Market price -0.45 -4.55 -7.61
Bloomberg U.S. MBS Index -0.88 -5.81 -9.69
    
1 From 8-18-21.
The Bloomberg U.S. Mortgage-Backed Securities (MBS) Index tracks 15- and 30-year fixed-rate securities backed by the mortgage pools of Ginnie Mae, Freddie Mac, and Fannie Mae.
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Mortgage-Backed Securities ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in the Bloomberg U.S. MBS Index.
The value of a $10,000 investment calculated at market value from inception through period end would be $9,239.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.94
Net (%) 0.40
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  ANNUAL REPORT  | JOHN HANCOCK ETFS 11
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Preferred Income ETF
AVERAGE ANNUAL TOTAL RETURNS AS OF 4/30/2023 (%)
Average annual total returns (%) Cumulative total returns (%)
  1-Year Since fund
inception1 		Since fund
inception1
At Net asset value -3.81 -6.38 -8.67
At Market price -3.06 -5.97 -8.12
ICE BofA U.S. All Capital Securities Index -2.13 -8.41 -11.40
    
1 From 12-14-21.
The Intercontinental Exchange (ICE) Bank of America (BofA) U.S. All Capital Securities Index tracks all fixed-to floating-rate, perpetual callable and capital securities of the ICE BofA U.S. Corporate Index.
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock Preferred Income ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in the ICE BofA U.S. All Capital Securities Index.
The value of a $10,000 investment calculated at market value from inception through period end would be $9,188.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until August 31, 2023 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 0.82
Net (%) 0.54
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
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U.S. High Dividend ETF
TOTAL RETURNS AS OF 4/30/2023 (%)
  Cumulative total returns (%)
  Since fund
inception1
At Net asset value 12.45
At Market price 12.39
MSCI USA High Dividend Yield Index 11.40
    
1 From 9-27-22.
The MSCI USA High Dividend Yield Index tracks the performance of equities with higher dividend income and quality characteristics that are both sustainable and persistent.
GROWTH OF $10,000
This chart shows what happened to a hypothetical $10,000 investment in John Hancock U.S. High Dividend ETF for the periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in the MSCI USA High Dividend Yield Index.
The value of a $10,000 investment calculated at market value from inception through period end would be $11,239.
The chart and table above do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption or sale of fund shares.
It is not possible to invest directly in an index. Unlike an index, the fund’s total returns are reduced by operating expenses and management fees.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from those disclosed in the Financial highlights table in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
Gross (%) 1.56
Net (%) 0.34
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for the fund.
  ANNUAL REPORT  | JOHN HANCOCK ETFS 13
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Your expenses
These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other funds.
Understanding fund expenses
As a shareholder of a fund, you incur two types of costs:
■Transaction costs, which may include creation and redemption fees and brokerage charges.
■Ongoing operating expenses, including management fees, and other fund expenses.
We are presenting only your ongoing operating expenses here.
Actual expenses/actual returns
The first line of each fund in the following table is intended to provide information about a fund’s actual ongoing operating expenses, and is based on the fund’s actual NAV return. It assumes an account value of $1,000.00 on November 1, 2022, with the same investment held until April 30, 2023.
Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at April 30, 2023, by $1,000.00, then multiply it by the “expenses paid” from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:
Hypothetical example for comparison purposes
The second line of each fund in the following table allows you to compare a fund’s ongoing operating expenses with those of any other fund. It provides an example of the fund’s hypothetical account values and hypothetical expenses based on the fund’s actual expense ratio and an assumed 5% annualized return before expenses (which is not the fund’s actual return). It assumes an account value of $1,000.00 on November 1, 2022, with the same investment held until April 30, 2023. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
Remember, these examples do not include any transaction costs. A fund charges a transaction fee per creation unit to those creating or redeeming creation units, and those buying or selling shares in the secondary market will incur customary brokerage commissions and charges. Therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectus for details regarding transaction costs.
SHAREHOLDER EXPENSE EXAMPLE CHART
  Account
value on
11-1-2022 		Ending
value on
4-30-2023 		Expenses
paid during
4-30-20231 		Annualized
expense
ratio
Corporate Bond ETF
Actual expenses/actual returns $1,000.00 $1,093.50 $1.51 0.29%
Hypothetical example for comparison purposes 1,000.00 1,023.40 1.45 0.29%
International High Dividend ETF
Actual expenses/actual returns2 $1,000.00 $1,097.90 $1.73 0.46%
Hypothetical example for comparison purposes 1,000.00 1,022.50 2.31 0.46%
Mortgage-Backed Securities ETF
Actual expenses/actual returns $1,000.00 $1,074.40 $2.01 0.39%
Hypothetical example for comparison purposes 1,000.00 1,022.90 1.96 0.39%
Preferred Income ETF
Actual expenses/actual returns $1,000.00 $1,007.40 $2.69 0.54%
Hypothetical example for comparison purposes 1,000.00 1,022.10 2.71 0.54%
14 JOHN HANCOCK ETFS | ANNUAL  
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SHAREHOLDER EXPENSE EXAMPLE CHART  (continued)
  Account
value on
11-1-2022 		Ending
value on
4-30-2023 		Expenses
paid during
4-30-20231 		Annualized
expense
ratio
U.S. High Dividend ETF
Actual expenses/actual returns $1,000.00 $1,051.90 $1.73 0.34%
Hypothetical example for comparison purposes 1,000.00 1,023.10 1.71 0.34%
    
   
1 Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).
2 The inception date for the fund is 12-20-22.  Actual Expenses are equal to the fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 131/ 365 (to reflect the period).
  ANNUAL | JOHN HANCOCK ETFS 15
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Funds’ investments
CORPORATE BOND ETF
As of 4-30-23
  Rate (%) Maturity date   Par value^ Value
Corporate bonds 98.8%     $23,978,127
(Cost $26,149,883)          
Communication services 10.1%     2,436,547
Diversified telecommunication services 2.7%      
AT&T, Inc. 3.500 06-01-41   411,000 323,822
Verizon Communications, Inc. 2.650 11-20-40   477,000 338,523
Entertainment 3.6%      
Netflix, Inc. (A) 4.875 06-15-30   335,000 332,717
TWDC Enterprises 18 Corp. 4.125 12-01-41   293,000 263,963
WarnerMedia Holdings, Inc. (A) 4.279 03-15-32   296,000 262,895
Media 2.8%      
Charter Communications Operating LLC 3.500 06-01-41   257,000 175,608
Comcast Corp. 3.750 04-01-40   575,000 496,259
Wireless telecommunication services 1.0%      
T-Mobile USA, Inc. 4.500 04-15-50   277,000 242,760
Consumer discretionary 7.2%     1,754,222
Automobiles 3.2%      
General Motors Financial Company, Inc. 2.900 02-26-25   557,000 533,109
Nissan Motor Acceptance Company LLC (A) 2.000 03-09-26   272,000 239,701
Hotels, restaurants and leisure 3.0%      
Expedia Group, Inc. 3.250 02-15-30   433,000 380,535
Marriott International, Inc. 4.625 06-15-30   372,000 361,273
Specialty retail 1.0%      
The Home Depot, Inc. 3.625 04-15-52   294,000 239,604
Consumer staples 2.4%     577,343
Beverages 1.8%      
Anheuser-Busch InBev Worldwide, Inc. 4.600 04-15-48   155,000 148,574
PepsiCo, Inc. 2.750 10-21-51   400,000 294,014
Food products 0.6%      
Kraft Heinz Foods Company 5.200 07-15-45   139,000 134,755
Energy 8.4%     2,029,570
Oil, gas and consumable fuels 8.4%      
Cenovus Energy, Inc. 5.400 06-15-47   291,000 271,131
Enbridge, Inc. (5.750% to 4-15-30, then 5 Year CMT + 5.314%) 5.750 07-15-80   406,000 371,659
Energy Transfer LP 5.250 04-15-29   291,000 292,001
Kinder Morgan, Inc. 3.600 02-15-51   123,000 86,416
MPLX LP 4.500 04-15-38   291,000 261,246
Targa Resources Partners LP 4.875 02-01-31   272,000 256,337
The Williams Companies, Inc. 2.600 03-15-31   291,000 247,224
Var Energi ASA (A) 8.000 11-15-32   225,000 243,556
Financials 37.2%     9,038,196
Banks 22.1%      
Bank of America Corp. (2.592% to 4-29-30, then SOFR + 2.150%) 2.592 04-29-31   707,000 598,900
Bank of America Corp. (2.972% to 7-21-51, then SOFR + 1.560%) 2.972 07-21-52   235,000 160,354
Barclays PLC 4.375 01-12-26   575,000 560,283
Citigroup, Inc. (2.976% to 11-5-29, then SOFR + 1.422%) 2.976 11-05-30   575,000 504,704
Citizens Financial Group, Inc. 3.250 04-30-30   575,000 490,672
Credit Agricole SA (A) 3.250 01-14-30   362,000 308,959
JPMorgan Chase & Co. (2.739% to 10-15-29, then SOFR + 1.510%) 2.739 10-15-30   636,000 557,903
JPMorgan Chase & Co. (6.750% to 2-1-24, then 3 month LIBOR + 3.780%) (B) 6.750 02-01-24   230,000 229,724
Lloyds Banking Group PLC 4.450 05-08-25   575,000 564,725
Santander Holdings USA, Inc. 4.400 07-13-27   575,000 547,804
16 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
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  Rate (%) Maturity date   Par value^ Value
Financials (continued)      
Banks (continued)      
U.S. Bancorp (5.727% to 10-21-25, then SOFR + 1.430%) 5.727 10-21-26   340,000 $342,369
Wells Fargo & Company (2.879% to 10-30-29, then 3 month CME Term SOFR + 1.432%) 2.879 10-30-30   575,000 503,257
Capital markets 8.9%      
Ares Capital Corp. 3.875 01-15-26   291,000 271,241
Blackstone Private Credit Fund 2.350 11-22-24   306,000 285,378
Deutsche Bank AG (2.311% to 11-16-26, then SOFR + 1.219%) 2.311 11-16-27   291,000 251,873
Morgan Stanley (4.431% to 1-23-29, then 3 month LIBOR + 1.628%) 4.431 01-23-30   506,000 488,878
The Bank of New York Mellon Corp. (4.414% to 7-24-25, then SOFR + 1.345%) 4.414 07-24-26   347,000 342,845
The Goldman Sachs Group, Inc. (1.431% to 3-9-26, then SOFR + 0.798%) 1.431 03-09-27   575,000 516,220
Consumer finance 2.2%      
Ally Financial, Inc. 3.875 05-21-24   556,000 541,321
Financial services 1.0%      
Visa, Inc. 2.700 04-15-40   291,000 231,749
Insurance 3.0%      
Athene Global Funding (A) 1.450 01-08-26   272,000 243,189
Prudential Financial, Inc. (3.700% to 7-1-30, then 5 Year CMT + 3.035%) 3.700 10-01-50   291,000 249,376
Teachers Insurance & Annuity Association of America (A) 4.270 05-15-47   291,000 246,472
Health care 6.8%     1,656,683
Biotechnology 0.9%      
AbbVie, Inc. 4.250 11-21-49   252,000 220,895
Health care providers and services 4.1%      
Centene Corp. 2.500 03-01-31   305,000 248,544
HCA, Inc. 4.125 06-15-29   291,000 275,896
UnitedHealth Group, Inc. 3.500 08-15-39   277,000 237,458
Universal Health Services, Inc. 2.650 10-15-30   291,000 242,044
Pharmaceuticals 1.8%      
Bristol-Myers Squibb Company 3.700 03-15-52   293,000 243,068
Viatris, Inc. 4.000 06-22-50   291,000 188,778
Industrials 7.4%     1,801,764
Aerospace and defense 0.9%      
The Boeing Company 3.750 02-01-50   301,000 225,985
Passenger airlines 3.1%      
Delta Air Lines, Inc. (A) 4.500 10-20-25   222,710 218,403
Delta Air Lines, Inc. (A) 4.750 10-20-28   291,000 282,592
United Airlines 2020-1 Class A Pass Through Trust 5.875 10-15-27   262,824 260,853
Trading companies and distributors 3.4%      
AerCap Ireland Capital DAC 3.850 10-29-41   272,000 204,287
Air Lease Corp. 2.875 01-15-26   291,000 271,880
Ashtead Capital, Inc. (A) 4.000 05-01-28   360,000 337,764
Information technology 5.8%     1,405,323
Communications equipment 0.6%      
Motorola Solutions, Inc. 2.300 11-15-30   181,000 148,390
Software 2.7%      
Microsoft Corp. 2.525 06-01-50   619,000 439,182
Oracle Corp. 3.950 03-25-51   274,000 206,873
Technology hardware, storage and peripherals 2.5%      
Apple, Inc. 2.700 08-05-51   575,000 406,808
Dell International LLC (A) 3.450 12-15-51   213,000 140,012
Dell International LLC 8.350 07-15-46   52,000 64,058
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 17
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Materials 2.2%     $540,229
Construction materials 1.1%      
Vulcan Materials Company 3.500 06-01-30   291,000 267,079
Metals and mining 1.1%      
Freeport-McMoRan, Inc. 5.450 03-15-43   291,000 273,150
Real estate 4.7%     1,134,120
Hotel and resort REITs 1.5%      
Host Hotels & Resorts LP 3.375 12-15-29   433,000 371,728
Specialized REITs 3.2%      
American Tower Corp. 2.950 01-15-51   366,000 235,763
GLP Capital LP 5.375 04-15-26   291,000 288,045
VICI Properties LP 5.125 05-15-32   250,000 238,584
Utilities 6.6%     1,604,130
Electric utilities 4.2%      
NextEra Energy Capital Holdings, Inc. 2.750 11-01-29   362,000 323,507
NRG Energy, Inc. (A) 4.450 06-15-29   389,000 356,776
Vistra Operations Company LLC (A) 4.300 07-15-29   362,000 334,167
Multi-utilities 2.4%      
CenterPoint Energy Resources Corp. 1.750 10-01-30   362,000 297,781
Dominion Energy, Inc. 3.375 04-01-30   320,000 291,899
    
    Yield (%)   Shares Value
Short-term investments 0.2%         $55,879
(Cost $55,873)          
Short-term funds 0.2%         55,879
John Hancock Collateral Trust (C) 4.9058(D)   5,590 55,879
    
Total investments (Cost $26,205,756) 99.0%     $24,034,006
Other assets and liabilities, net 1.0%       242,997
Total net assets 100.0%         $24,277,003
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME Chicago Mercantile Exchange
CMT Constant Maturity Treasury
LIBOR London Interbank Offered Rate
SOFR Secured Overnight Financing Rate
(A) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $3,547,203 or 14.6% of the fund’s net assets as of 4-30-23.
(B) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(C) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(D) The rate shown is the annualized seven-day yield as of 4-30-23.
INTERNATIONAL HIGH DIVIDEND ETF
As of 4-30-23
        Shares Value
Common stocks 95.8%         $5,992,535
(Cost $5,677,748)          
Australia 6.7%         417,086
BHP Group, Ltd.     3,565 104,603
Fortescue Metals Group, Ltd.     7,176 99,303
South32, Ltd.     39,359 110,284
Woodside Energy Group, Ltd.     4,623 102,896
Belgium 2.1%         132,669
Solvay SA     1,104 132,669
18 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Canada 2.2%         $138,106
Power Corp. of Canada     3,174 84,926
West Fraser Timber Company, Ltd.     736 53,180
Denmark 1.5%         92,122
AP Moller - Maersk A/S, Series B     51 92,122
France 5.3%         333,555
Klepierre SA     3,946 100,023
Publicis Groupe SA     1,583 129,535
Sanofi     942 103,997
Germany 6.9%         432,441
BASF SE     2,115 109,393
Bayerische Motoren Werke AG     1,108 124,085
Deutsche Telekom AG     3,211 77,563
Mercedes-Benz Group AG     1,558 121,400
Hong Kong 5.8%         359,768
CK Hutchison Holdings, Ltd.     19,000 127,072
Jardine Matheson Holdings, Ltd.     2,300 110,860
Swire Pacific, Ltd., Class A     15,401 121,836
Israel 0.6%         39,288
ICL Group, Ltd.     6,421 39,288
Italy 5.7%         356,781
Assicurazioni Generali SpA     5,773 120,330
Eni SpA     7,774 117,975
Poste Italiane SpA (A)     11,385 118,476
Japan 22.6%         1,414,584
Daiwa House Industry Company, Ltd.     2,100 53,315
FUJIFILM Holdings Corp.     2,117 109,764
ITOCHU Corp.     2,145 70,762
JFE Holdings, Inc.     9,200 108,239
Komatsu, Ltd.     2,300 56,484
Marubeni Corp.     8,886 125,297
Mitsubishi Corp.     2,300 84,760
Mitsui & Company, Ltd.     4,096 127,213
Mizuho Financial Group, Inc.     8,291 119,648
Nippon Steel Corp.     5,100 108,356
Ricoh Company, Ltd.     6,900 56,805
Seiko Epson Corp.     4,168 63,393
Sumitomo Corp.     6,595 117,549
Toyota Tsusho Corp.     2,300 94,760
Yamaha Motor Company, Ltd.     4,600 118,239
Luxembourg 1.4%         84,959
Aroundtown SA     62,540 84,959
Netherlands 4.2%         263,861
ABN AMRO Bank NV (A)     7,565 121,226
ASML Holding NV     82 51,918
Koninklijke Ahold Delhaize NV     2,632 90,717
Norway 2.9%         184,523
Norsk Hydro ASA     12,305 90,028
Yara International ASA     2,356 94,495
Singapore 2.9%         179,477
Oversea-Chinese Banking Corp., Ltd.     10,818 102,005
Wilmar International, Ltd.     26,300 77,472
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 19
Table of Contents
        Shares Value
Spain 7.4%         $464,773
Banco Bilbao Vizcaya Argentaria SA     17,729 130,159
CaixaBank SA     30,840 114,127
Repsol SA     6,052 89,163
Telefonica SA     28,837 131,324
Switzerland 1.9%         118,340
Adecco Group AG     3,450 118,340
United Kingdom 15.7%         980,202
Barclays PLC     58,795 118,150
BP PLC     9,476 63,649
British American Tobacco PLC     2,628 96,683
GSK PLC     5,952 107,802
Imperial Brands PLC     3,916 96,841
J Sainsbury PLC     36,906 128,214
Land Securities Group PLC     13,688 115,992
Standard Chartered PLC     13,347 105,419
Tesco PLC     22,665 80,079
The British Land Company PLC     13,394 67,373
Preferred securities 1.9%         $121,660
(Cost $114,664)          
Germany 1.9%         121,660
Volkswagen AG     891 121,660
    
    Yield (%)   Shares Value
Short-term investments 1.5%       $94,864
(Cost $94,864)          
Short-term funds 1.5%         94,864
John Hancock Collateral Trust (B) 4.9058(C)   9,489 94,864
    
Total investments (Cost $5,887,276) 99.2%     $6,209,059
Other assets and liabilities, net 0.8%     48,677
Total net assets 100.0%         $6,257,736
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(B) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(C) The rate shown is the annualized seven-day yield as of 4-30-23.
MORTGAGE-BACKED SECURITIES ETF
As of 4-30-23
  Rate (%) Maturity date   Par value^ Value
U.S. Government and Agency obligations 46.8%       $12,511,500
(Cost $14,021,178)          
U.S. Government 1.3%       347,640
U.S. Treasury          
Bond 3.000 08-15-52   100,000 87,844
Bond 3.375 08-15-42   84,000 79,104
Bond 3.875 02-15-43   100,000 101,063
Bond 4.000 11-15-52   75,000 79,629
U.S. Government Agency 45.5%       12,163,860
Federal Home Loan Mortgage Corp.          
30 Yr Pass Thru 2.500 09-01-51   176,103 153,800
30 Yr Pass Thru 2.500 01-01-52   257,117 224,554
30 Yr Pass Thru 3.000 05-01-51   270,125 245,800
30 Yr Pass Thru 3.000 06-01-51   239,293 215,650
20 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)        
30 Yr Pass Thru 3.000 02-01-52   291,361 $262,801
30 Yr Pass Thru 3.500 09-01-47   344,802 325,254
30 Yr Pass Thru 3.500 05-01-52   213,398 199,465
30 Yr Pass Thru 3.500 07-01-52   293,261 273,748
30 Yr Pass Thru 4.000 07-01-52   209,773 200,766
30 Yr Pass Thru 4.000 09-01-52   210,788 202,001
30 Yr Pass Thru 4.000 10-01-52   319,285 306,773
Federal National Mortgage Association          
30 Yr Pass Thru 2.000 07-01-51   289,873 243,127
30 Yr Pass Thru 2.000 08-01-51   528,603 444,681
30 Yr Pass Thru 2.000 08-01-51   384,165 321,614
30 Yr Pass Thru 2.000 09-01-51   548,128 460,249
30 Yr Pass Thru 2.500 04-01-51   259,569 224,748
30 Yr Pass Thru 2.500 07-01-51   292,528 255,845
30 Yr Pass Thru 2.500 08-01-51   509,751 444,874
30 Yr Pass Thru 2.500 08-01-51   551,759 481,709
30 Yr Pass Thru 2.500 08-01-51   302,780 264,150
30 Yr Pass Thru 2.500 08-01-51   432,298 377,548
30 Yr Pass Thru 2.500 08-01-51   198,845 172,108
30 Yr Pass Thru 2.500 09-01-51   439,451 383,383
30 Yr Pass Thru 2.500 12-01-51   262,233 228,448
30 Yr Pass Thru 2.500 01-01-52   262,679 228,837
30 Yr Pass Thru 2.500 03-01-52   548,623 478,455
30 Yr Pass Thru 3.000 11-01-46   357,690 328,832
30 Yr Pass Thru 3.000 11-01-46   210,264 193,300
30 Yr Pass Thru 3.000 04-01-47   211,217 194,110
30 Yr Pass Thru 3.000 05-01-50   231,092 210,372
30 Yr Pass Thru 3.000 07-01-50   299,207 269,481
30 Yr Pass Thru 3.000 11-01-50   247,131 226,054
30 Yr Pass Thru 3.000 07-01-51   223,207 202,200
30 Yr Pass Thru 3.000 08-01-51   491,741 445,153
30 Yr Pass Thru 3.000 02-01-52   290,444 262,337
30 Yr Pass Thru 3.000 03-01-52   219,419 198,255
30 Yr Pass Thru 3.500 12-01-46   163,227 154,432
30 Yr Pass Thru 3.500 02-01-47   188,761 178,177
30 Yr Pass Thru 3.500 02-01-48   250,852 236,709
30 Yr Pass Thru 3.500 11-01-48   218,544 206,444
30 Yr Pass Thru 3.500 04-01-50   216,804 204,868
30 Yr Pass Thru 3.500 04-01-51   211,310 199,330
30 Yr Pass Thru 3.500 03-01-52   136,188 127,999
30 Yr Pass Thru 4.000 04-01-47   109,154 106,045
30 Yr Pass Thru 4.000 03-01-48   127,101 123,242
30 Yr Pass Thru 4.000 06-01-49   108,533 105,272
30 Yr Pass Thru 4.000 06-01-49   114,052 110,981
30 Yr Pass Thru 4.000 04-01-50   116,595 113,428
30 Yr Pass Thru 4.500 10-01-52   148,939 146,451
Collateralized mortgage obligations 35.5%       $9,487,779
(Cost $10,507,652)          
Commercial and residential 19.5%     5,206,338
Agate Bay Mortgage Trust    
Series 2013-1, Class A1 (A)(B) 3.500 07-25-43   94,617 87,083
Angel Oak Mortgage Trust LLC    
Series 2020-3, Class A2 (A)(B) 2.410 04-25-65   105,023 96,858
Series 2021-2, Class A3 (A)(B) 1.447 04-25-66   155,476 131,361
Arroyo Mortgage Trust    
Series 2019-1, Class A3 (A)(B) 4.208 01-25-49   160,666 151,929
Bellemeade Re, Ltd.    
Series 2021-3A, Class M2 (1 month SOFR + 3.150%) (A)(C) 7.965 09-25-31   200,000 190,961
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 21
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Commercial and residential (continued)      
BRAVO Residential Funding Trust    
Series 2021-NQM1, Class M1 (A)(B) 2.316 02-25-49   100,000 $73,379
Bunker Hill Loan Depositary Trust    
Series 2019-3, Class M1 (A) 3.269 11-25-59   100,000 90,364
BX Commercial Mortgage Trust    
Series 2021-MC, Class E (1 month LIBOR + 2.100%) (A)(C) 7.048 04-15-34   100,000 87,573
CAMB Commercial Mortgage Trust    
Series 2019-LIFE, Class F (1 month LIBOR + 2.550%) (A)(C) 7.498 12-15-37   200,000 191,156
COLT Mortgage Loan Trust    
Series 2021-1, Class A1 (A)(B) 0.910 06-25-66   194,221 157,763
Series 2021-4, Class A1 (A)(B) 1.397 10-25-66   165,515 131,808
Series 2021-4, Class B1 (A)(B) 3.764 10-25-66   200,000 136,221
Series 2021-HX1, Class B1 (A)(B) 3.110 10-25-66   100,000 63,204
DBGS Mortgage Trust    
Series 2018-BIOD, Class D (1 month LIBOR + 1.300%) (A)(C) 6.248 05-15-35   91,376 88,848
Eagle RE, Ltd.    
Series 2021-2, Class M1B (1 month SOFR + 2.050%) (A)(C) 6.865 04-25-34   200,000 198,949
Flagstar Mortgage Trust    
Series 2021-6INV, Class A4 (A)(B) 2.500 08-25-51   207,275 170,305
Imperial Fund Mortgage Trust    
Series 2021-NQM2, Class M1 (A)(B) 2.489 09-25-56   200,000 122,494
Series 2022-NQM5, Class A3 (6.250% to 7-1-26, then 7.250% thereafter) (A) 6.250 08-25-67   93,487 93,031
JPMorgan Mortgage Trust    
Series 2019-INV3, Class B3 (A)(B) 4.382 05-25-50   216,990 188,883
KNDL Mortgage Trust    
Series 2019-KNSQ, Class E (1 month LIBOR + 1.800%) (A)(C) 6.748 05-15-36   275,000 269,341
Life Mortgage Trust    
Series 2021-BMR, Class F (1 month CME Term SOFR + 2.464%) (A)(C) 7.354 03-15-38   201,509 189,368
MFA Trust    
Series 2020-NQM3, Class M1 (A)(B) 2.654 01-26-65   100,000 80,524
Series 2023-NQM1, Class A2 (5.750% to 1-1-27, then 6.750% thereafter) (A) 5.750 11-25-67   146,613 144,528
New Residential Mortgage Loan Trust    
Series 2019-4A, Class A1B (A)(B) 3.500 12-25-58   74,794 70,056
Oaktown RE VII, Ltd.    
Series 2021-2, Class M1B (1 month SOFR + 2.900%) (A)(C) 7.715 04-25-34   200,000 198,667
OBX Trust    
Series 2022-NQM1, Class A1 (A)(B) 2.305 11-25-61   127,818 110,051
PKHL Commercial Mortgage Trust    
Series 2021-MF, Class F (1 month LIBOR + 3.350%) (A)(C) 8.298 07-15-38   300,000 276,009
Ready Capital Mortgage Trust    
Series 2019-5, Class E (A)(B) 5.426 02-25-52   250,000 179,816
Towd Point Mortgage Trust    
Series 2019-4, Class B1B (A)(B) 3.500 10-25-59   315,000 232,017
Triangle RE, Ltd.    
Series 2021-3, Class M1B (1 month SOFR + 2.900%) (A)(C) 7.715 02-25-34   200,000 197,002
TRK Trust    
Series 2021-INV1, Class A1 (A)(B) 1.153 07-25-56   143,630 122,323
Verus Securitization Trust    
Series 2019-4, Class A1 (2.642% to 10-25-23, then 3.642% thereafter) (A) 2.642 11-25-59   63,590 61,244
Series 2020-5, Class A1 (1.218% to 10-1-24, then 2.218% thereafter) (A) 1.218 05-25-65   99,281 90,928
Series 2020-INV1, Class A2 (A)(B) 3.035 03-25-60   170,000 162,870
Series 2021-1, Class A2 (A)(B) 1.052 01-25-66   96,839 82,377
Series 2021-3, Class A1 (A)(B) 1.046 06-25-66   98,072 82,442
Series 2021-3, Class A3 (A)(B) 1.437 06-25-66   81,727 68,540
Series 2022-4, Class A1 (4.474% to 4-1-26, then 5.474% thereafter) (A) 4.474 04-25-67   85,346 82,807
Visio Trust    
Series 2019-2, Class A1 (A)(B) 2.722 11-25-54   56,510 53,258
U.S. Government Agency 16.0%     4,281,441
Federal Home Loan Mortgage Corp.    
Series 2016-SC01, Class M2 (B) 3.903 07-25-46   93,618 90,542
Series 2019-HQA2, Class B1 (1 month LIBOR + 4.100%) (A)(C) 9.120 04-25-49   200,000 206,863
Series 2021-HQA1, Class M2 (1 month SOFR + 2.250%) (A)(C) 7.065 08-25-33   98,903 96,308
Series 2021-HQA2, Class M2 (1 month SOFR + 2.050%) (A)(C) 6.865 12-25-33   300,000 286,630
22 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
U.S. Government Agency (continued)      
Series 2022-DNA3, Class M2 (1 month SOFR + 4.350%) (A)(C) 9.165 04-25-42   160,000 $160,150
Series 2023-DNA1, Class M1B (1 month SOFR + 3.100%) (A)(C) 7.924 03-25-43   250,000 250,064
Series 5150, Class IS IO 0.083 08-25-51   1,741,000 163,117
Series 5250, Class AY 2.000 01-25-55   449,997 310,179
Series K109, Class X1 IO 1.698 04-25-30   1,987,082 170,135
Series K116, Class X1 IO 1.529 07-25-30   2,736,056 214,650
Series K118, Class X1 IO 1.052 09-25-30   3,183,219 176,439
Series X2FX, Class X1 IO 0.773 09-25-25   7,967,313 119,906
Federal National Mortgage Association    
Series 2021-R01, Class 1B1 (1 month SOFR + 3.100%) (A)(C) 7.915 10-25-41   200,000 193,988
Series 2022-22, Class B 2.000 07-25-54   400,000 257,270
Series 2022-R05, Class 2M2 (1 month SOFR + 3.000%) (A)(C) 7.815 04-25-42   200,000 198,003
Series 2023-R03, Class 2M2 (1 month SOFR + 3.900%) (A)(C) 8.715 04-25-43   100,000 100,250
Government National Mortgage Association    
Series 2014-103, Class DA (B) 3.250 09-16-54   101,546 97,186
Series 2014-135, Class IO 0.425 01-16-56   14,527,694 277,584
Series 2016-26, Class IO 0.639 02-16-58   5,193,038 126,610
Series 2017-159, Class IO 0.434 06-16-59   3,932,346 123,977
Series 2018-23, Class IO 0.566 11-16-59   1,772,803 70,655
Series 2021-153, Class IA IO 0.100 08-16-61   19,366,444 105,594
Series 2021-178, Class IA IO 0.100 10-16-61   38,450,996 209,927
Series 2021-62, Class IA IO 0.100 02-16-63   18,296,725 102,158
Series 2022-141, Class BC 2.100 06-16-64   265,000 173,256
Asset backed securities 16.5%         $4,393,256
(Cost $4,664,655)          
Asset backed securities 16.5%         4,393,256
AMMC CLO, Ltd.          
Series 2020-23A, Class CR (3 month LIBOR + 2.000%) (A)(C) 7.260 10-17-31   140,000 132,934
AMSR Trust          
Series 2020-SFR1, Class C (A) 2.419 04-17-37   150,000 139,794
Series 2020-SFR4, Class D (A) 2.006 11-17-37   314,000 283,133
Apex Credit CLO, Ltd.          
Series 2019-2A, Class D (3 month LIBOR + 4.050%) (A)(C) 9.305 10-25-32   150,000 135,768
CARS-DB4 LP          
Series 2020-1A, Class B1 (A) 4.170 02-15-50   100,000 93,863
CARS-DB6 LP          
Series 2022-1A, Class B (A) 4.680 03-15-52   175,000 150,339
CLI Funding VIII LLC          
Series 2021-1A, Class A (A) 1.640 02-18-46   136,021 118,406
Columbia Cent CLO XXVIII, Ltd.          
Series 2018-28A, Class BR (3 month LIBOR + 2.150%) (A)(C) 6.984 11-07-30   350,000 334,559
DB Master Finance LLC          
Series 2021-1A, Class A23 (A) 2.791 11-20-51   197,500 159,019
Diamond Infrastructure Funding LLC          
Series 2021-1A, Class C (A) 3.475 04-15-49   200,000 160,520
Driven Brands Funding LLC          
Series 2019-1A, Class A2 (A) 4.641 04-20-49   201,075 189,560
Elara HGV Timeshare Issuer LLC          
Series 2021-A, Class D (A) 3.320 08-27-35   125,529 112,230
FirstKey Homes Trust          
Series 2021-SFR2, Class E1 (A) 2.258 09-17-38   200,000 171,883
Series 2022-SFR1, Class D (A) 5.197 05-17-39   200,000 189,793
Hertz Vehicle Financing LLC          
Series 2022-2A, Class A (A) 2.330 06-26-28   200,000 179,107
LCM XV LP          
Series 15A, Class DR (3 month LIBOR + 3.700%) (A)(C) 8.950 07-20-30   250,000 222,261
Madison Park Funding XLI, Ltd.          
Series 12A, Class DR (3 month LIBOR + 2.800%) (A)(C) 8.073 04-22-27   250,000 241,056
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 23
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Asset backed securities (continued)          
Progress Residential Trust          
Series 2020-SFR1, Class C (A) 2.183 04-17-37   300,000 $278,829
Series 2021-SFR3, Class E2 (A) 2.688 05-17-26   100,000 86,876
Series 2021-SFR4, Class E1 (A) 2.409 05-17-38   150,000 129,911
Series 2021-SFR5, Class E2 (A) 2.359 07-17-38   225,000 190,516
Store Master Funding I-VII & XIV          
Series 2019-1, Class A2 (A) 3.650 11-20-49   190,350 161,650
Taco Bell Funding LLC          
Series 2021-1A, Class A2I (A) 1.946 08-25-51   197,500 173,201
Tricon Residential Trust          
Series 2021-SFR1, Class G (A) 4.133 07-17-38   100,000 88,164
Vantage Data Centers LLC          
Series 2021-1A, Class A2 (A) 2.165 10-15-46   125,000 111,340
Voya CLO, Ltd.          
Series 2018-2A, Class E (3 month LIBOR + 5.250%) (A)(C) 10.510 07-15-31   200,000 158,544
    
    Yield (%)   Shares Value
Short-term investments 1.1%         $291,462
(Cost $291,447)          
Short-term funds 1.1%         291,462
John Hancock Collateral Trust (D) 4.9058(E)   29,155 291,462
    
Total investments (Cost $29,484,932) 99.9%     $26,683,997
Other assets and liabilities, net 0.1%       37,084
Total net assets 100.0%         $26,721,081
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME Chicago Mercantile Exchange
IO Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.
LIBOR London Interbank Offered Rate
SOFR Secured Overnight Financing Rate
(A) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $11,091,850 or 41.5% of the fund’s net assets as of 4-30-23.
(B) Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end.
(C) Variable rate obligation. The coupon rate shown represents the rate at period end.
(D) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(E) The rate shown is the annualized seven-day yield as of 4-30-23.
DERIVATIVES
FUTURES
Open contracts Number of
contracts 		Position Expiration
date 		Notional
basis^ 		Notional
value^ 		Unrealized
appreciation
(depreciation)
U.S. Treasury Long Bond Futures 8 Long Jun 2023 $1,001,387 $1,053,250 $51,863
            $51,863
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
See Notes to financial statements regarding investment transactions and other derivatives information.
PREFERRED INCOME ETF
As of 4-30-23
        Shares Value
Preferred securities 53.4%     $13,260,920
(Cost $14,282,187)          
Communication services 3.7%       925,726
Diversified telecommunication services 0.7%        
Qwest Corp., 6.500%       13,702 182,511
24 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Communication services (continued)        
Media 0.3%        
Paramount Global, 5.750%       2,091 $66,557
Wireless telecommunication services 2.7%        
Telephone & Data Systems, Inc., 6.000%       11,784 158,259
Telephone & Data Systems, Inc., 6.625%       10,129 151,631
U.S. Cellular Corp., 5.500%       5,670 85,787
U.S. Cellular Corp., 5.500%       5,735 87,459
U.S. Cellular Corp., 6.250%       11,526 193,522
Consumer discretionary 0.6%       151,531
Broadline retail 0.6%        
Qurate Retail, Inc., 8.000%       4,193 128,515
QVC, Inc., 6.250%       2,589 23,016
Energy 0.8%       198,854
Oil, gas and consumable fuels 0.8%        
NuStar Logistics LP, 11.994% (3 month LIBOR + 6.734%) (A)       7,786 198,854
Financials 29.7%       7,363,105
Banks 12.1%        
Bank of America Corp., 4.250%       6,274 118,516
Bank of America Corp., 6.450% (6.450% to 12-15-66, then 3 month LIBOR + 1.327%)       5,252 133,453
Bank of America Corp., 7.250%       265 313,741
Citigroup Capital XIII, 11.643% (3 month LIBOR + 6.370%) (A)       14,998 437,492
Citigroup, Inc., 7.125% (7.125% to 9-30-23, then 3 month CME Term SOFR + 4.040%)       13,187 335,082
Fifth Third Bancorp, 6.000%       9,541 228,984
Fulton Financial Corp., 5.125%       5,699 94,603
Huntington Bancshares, Inc., 6.875% (6.875% to 4-15-28, then 5 Year CMT + 2.704%)       5,989 149,665
KeyCorp, 5.650%       2,826 60,731
Pinnacle Financial Partners, Inc., 6.750%       4,709 111,792
Synovus Financial Corp., 6.300% (6.300% to 6-21-23, then 3 month LIBOR + 3.352%)       7,118 159,941
Wells Fargo & Company, 4.750%       20,624 414,955
Wells Fargo & Company, 6.625% (6.625% to 3-15-24, then 3 month LIBOR + 3.690%)       13,388 332,156
WesBanco, Inc., 6.750% (6.750% to 11-15-25, then 5 Year CMT + 6.557%)       4,588 107,267
Capital markets 5.2%        
Brookfield Finance, Inc., 4.625%       5,055 82,346
Morgan Stanley, 6.375% (6.375% to 10-15-24, then 3 month LIBOR + 3.708%)       9,573 240,569
Morgan Stanley, 6.500%       10,080 263,491
Morgan Stanley, 6.875% (6.875% to 1-15-24, then 3 month LIBOR + 3.940%)       4,502 114,261
Morgan Stanley, 7.125% (7.125% to 10-15-23, then 3 month LIBOR + 4.320%)       23,713 604,207
Consumer finance 0.6%        
Navient Corp., 6.000%       7,264 139,178
Financial services 0.6%        
KKR Group Finance Company IX LLC, 4.625%       4,553 86,826
National Rural Utilities Cooperative Finance Corp., 5.500%       2,178 54,494
Insurance 11.2%        
AEGON Funding Company LLC, 5.100%       11,392 253,244
American Equity Investment Life Holding Company, 6.625% (6.625% to 9-1-25, then 5 Year CMT + 6.297%)       6,562 156,701
American Financial Group, Inc., 5.125%       6,183 141,838
American International Group, Inc., 5.850%       12,176 306,713
Athene Holding, Ltd., 7.750% (7.750% to 12-30-27, then 5 Year CMT + 3.962%)       14,046 347,217
Athene Holding, Ltd., Series A, 6.350% (6.350% to 6-30-29, then 3 month LIBOR + 4.253%)       13,225 286,850
Brighthouse Financial, Inc., 6.600%       13,697 327,906
Lincoln National Corp., 9.000%       10,767 283,926
Reinsurance Group of America, Inc., 7.125% (7.125% to 10-15-27, then 5 Year CMT + 3.456%)       13,767 361,384
RenaissanceRe Holdings, Ltd., 4.200%       8,809 161,469
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 25
Table of Contents
        Shares Value
Financials (continued)        
Insurance (continued)        
Unum Group, 6.250%       6,121 $152,107
Industrials 0.7%       188,278
Trading companies and distributors 0.7%        
WESCO International, Inc., 10.625% (10.625% to 6-22-25, then 5 Year CMT + 10.325%)       6,922 188,278
Real estate 1.0%       247,833
Hotel and resort REITs 0.6%        
Pebblebrook Hotel Trust, 6.375%       8,159 155,837
Office REITs 0.3%        
Vornado Realty Trust, 5.400%       5,908 78,695
Specialized REITs 0.1%        
Public Storage, 4.625%       611 13,301
Utilities 16.9%       4,185,593
Electric utilities 3.5%        
Duke Energy Corp., 5.750%       9,543 245,732
NextEra Energy Capital Holdings, Inc., 5.650%       180 4,622
NextEra Energy, Inc., 6.219%       2,982 146,357
NextEra Energy, Inc., 6.926%       4,490 212,557
SCE Trust III, 5.750% (5.750% to 3-15-24, then 3 month LIBOR + 2.990%)       4,407 94,310
SCE Trust VI, 5.000%       8,116 160,616
Gas utilities 0.8%        
South Jersey Industries, Inc., 5.625%       5,620 81,602
UGI Corp., 7.250%       1,400 111,328
Independent power and renewable electricity producers 1.2%        
The AES Corp., 6.875%       3,370 303,334
Multi-utilities 11.4%        
Algonquin Power & Utilities Corp., 6.200% (6.200% to 7-1-24, then 3 month LIBOR + 4.010%)       13,982 319,908
Algonquin Power & Utilities Corp., 6.875% (6.875% to 10-17-23, then 3 month LIBOR + 3.677%)       20,173 467,207
CMS Energy Corp., 5.625%       8,827 221,116
CMS Energy Corp., 5.875%       8,172 202,911
DTE Energy Company, 5.250%       9,469 226,025
Integrys Holding, Inc., 6.000% (6.000% to 8-1-23, then 3 month LIBOR + 3.220%)       8,914 209,925
NiSource, Inc., 6.500% (6.500% to 3-15-24, then 5 Year CMT + 3.632%)       15,887 396,381
NiSource, Inc., 7.750%       4,177 442,887
Sempra Energy, 5.750%       13,749 338,775
Common stocks 1.9%     $460,497
(Cost $487,951)          
Communication services 0.2%       61,701
Diversified telecommunication services 0.2%        
Verizon Communications, Inc.       1,589 61,701
Energy 0.5%       112,234
Oil, gas and consumable fuels 0.5%        
The Williams Companies, Inc.       3,709 112,234
Utilities 1.2%       286,562
Multi-utilities 1.2%        
Algonquin Power & Utilities Corp.       9,467 286,562
    
26 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Corporate bonds 41.5%     $10,294,066
(Cost $10,989,186)          
Communication services 1.1%       270,194
Media 1.1%        
Paramount Global (6.375% to 3-30-27, then 5 Year CMT + 3.999%) 6.375 03-30-62   315,000 270,194
Consumer discretionary 1.6%       398,757
Automobiles 1.6%        
General Motors Financial Company, Inc. (5.700% to 9-30-30, then 5 Year CMT + 4.997%) (B) 5.700 09-30-30   118,000 103,103
General Motors Financial Company, Inc. (6.500% to 9-30-28, then 3 month LIBOR + 3.436%) (B) 6.500 09-30-28   343,000 295,654
Energy 4.7%       1,161,533
Oil, gas and consumable fuels 4.7%        
Enbridge, Inc. (7.375% to 10-15-27, then 5 Year CMT + 3.708%) 7.375 01-15-83   191,000 189,090
Enbridge, Inc. (7.625% to 10-15-32, then 5 Year CMT + 4.418%) 7.625 01-15-83   105,000 106,951
Energy Transfer LP (6.625% to 2-15-28, then 3 month LIBOR + 4.155%) (B) 6.625 02-15-28   647,000 494,339
Energy Transfer LP (7.125% to 5-15-30, then 5 Year CMT + 5.306%) (B) 7.125 05-15-30   291,000 245,168
Transcanada Trust (5.600% to 12-7-31, then 5 Year CMT + 3.986%) 5.600 03-07-82   149,000 125,985
Financials 26.6%       6,595,501
Banks 19.7%        
Bank of America Corp. (5.875% to 3-15-28, then 3 month LIBOR + 2.931%) (B) 5.875 03-15-28   285,000 257,925
Bank of America Corp. (6.125% to 4-27-27, then 5 Year CMT + 3.231%) (B) 6.125 04-27-27   357,000 346,134
Bank of America Corp. (6.500% to 10-23-24, then 3 month LIBOR + 4.174%) (B) 6.500 10-23-24   43,000 42,868
Barclays PLC (8.000% to 6-15-24, then 5 Year CMT + 5.672%) (B) 8.000 06-15-24   262,000 241,669
BNP Paribas SA (7.750% to 8-16-29, then 5 Year CMT + 4.899%) (B)(C) 7.750 08-16-29   175,000 167,125
Citigroup, Inc. (7.375% to 5-15-28, then 5 Year CMT + 3.209%) (B) 7.375 05-15-28   216,000 213,300
Citizens Financial Group, Inc. (6.375% to 4-6-24, then 3 month LIBOR + 3.157%) (B) 6.375 04-06-24   307,000 265,555
CoBank ACB (6.450% to 10-1-27, then 5 Year CMT + 3.487%) (B) 6.450 10-01-27   188,000 177,175
Comerica, Inc. (5.625% to 7-1-25, then 5 Year CMT + 5.291%) (B) 5.625 07-01-25   197,000 166,283
Huntington Bancshares, Inc. (5.625% to 7-15-30, then 10 Year CMT + 4.945%) (B) 5.625 07-15-30   137,000 122,207
JPMorgan Chase & Co. (4.600% to 2-1-25, then 3 month CME Term SOFR + 3.125%) (B) 4.600 02-01-25   357,000 331,118
JPMorgan Chase & Co. (6.750% to 2-1-24, then 3 month LIBOR + 3.780%) (B) 6.750 02-01-24   277,000 276,668
Lloyds Banking Group PLC (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%) (B) 7.500 06-27-24   239,000 229,874
M&T Bank Corp. (3.500% to 9-1-26, then 5 Year CMT + 2.679%) (B) 3.500 09-01-26   377,000 247,878
The Bank of Nova Scotia (8.625% to 10-27-27, then 5 Year CMT + 4.389%) 8.625 10-27-82   246,000 252,285
The PNC Financial Services Group, Inc. (6.000% to 5-15-27, then 5 Year CMT + 3.000%) (B) 6.000 05-15-27   380,000 352,450
The PNC Financial Services Group, Inc. (6.200% to 9-15-27, then 5 Year CMT + 3.238%) (B) 6.200 09-15-27   362,000 340,898
The PNC Financial Services Group, Inc. (6.250% to 3-15-30, then 7 Year CMT + 2.808%) (B) 6.250 03-15-30   319,000 292,364
The Toronto-Dominion Bank (8.125% to 10-31-27, then 5 Year CMT + 4.075%) 8.125 10-31-82   380,000 387,041
U.S. Bancorp (3.700% to 1-15-27, then 5 Year CMT + 2.541%) (B) 3.700 01-15-27   108,000 83,160
Wells Fargo & Company (5.900% to 6-15-24, then 3 month LIBOR + 3.110%) (B) 5.900 06-15-24   93,000 87,690
Capital markets 1.8%        
The Charles Schwab Corp. (4.000% to 6-1-26, then 5 Year CMT + 3.168%) (B) 4.000 06-01-26   198,000 166,076
The Charles Schwab Corp. (4.000% to 12-1-30, then 10 Year CMT + 3.079%) (B) 4.000 12-01-30   154,000 118,388
The Charles Schwab Corp. (5.000% to 6-1-27, then 5 Year CMT + 3.256%) (B) 5.000 06-01-27   89,000 76,763
The Charles Schwab Corp. (5.375% to 6-1-25, then 5 Year CMT + 4.971%) (B) 5.375 06-01-25   78,000 74,246
Consumer finance 1.2%        
American Express Company (3.550% to 9-15-26, then 5 Year CMT + 2.854%) (B) 3.550 09-15-26   155,000 130,228
Discover Financial Services (6.125% to 6-23-25, then 5 Year CMT + 5.783%) (B) 6.125 06-23-25   183,000 173,243
Financial services 0.6%        
Enstar Finance LLC (5.750% to 9-1-25, then 5 Year CMT + 5.468%) 5.750 09-01-40   172,000 143,594
Insurance 3.3%        
Markel Corp. (6.000% to 6-1-25, then 5 Year CMT + 5.662%) (B) 6.000 06-01-25   183,000 177,808
MetLife, Inc. (5.875% to 3-15-28, then 3 month LIBOR + 2.959%) (B) 5.875 03-15-28   312,000 289,520
SBL Holdings, Inc. (6.500% to 11-13-26, then 5 Year CMT + 5.620%) (B)(C) 6.500 11-13-26   264,000 153,698
SBL Holdings, Inc. (7.000% to 5-13-25, then 5 Year CMT + 5.580%) (B)(C) 7.000 05-13-25   326,000 210,270
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 27
Table of Contents
  Rate (%) Maturity date   Par value^ Value
Utilities 7.5%       $1,868,081
Electric utilities 3.7%        
Edison International (5.000% to 12-15-26, then 5 Year CMT + 3.901%) (B) 5.000 12-15-26   130,000 111,126
Edison International (5.375% to 3-15-26, then 5 Year CMT + 4.698%) (B) 5.375 03-15-26   371,000 330,385
NextEra Energy Capital Holdings, Inc. (5.650% to 5-1-29, then 3 month LIBOR + 3.156%) 5.650 05-01-79   249,000 224,849
NRG Energy, Inc. (10.250% to 3-15-28, then 5 Year CMT + 5.920%) (B)(C) 10.250 03-15-28   264,000 259,004
Independent power and renewable electricity producers 1.8%        
Vistra Corp. (7.000% to 12-15-26, then 5 Year CMT + 5.740%) (B)(C) 7.000 12-15-26   132,000 118,381
Vistra Corp. (8.000% to 10-15-26, then 5 Year CMT + 6.930%) (B)(C) 8.000 10-15-26   359,000 338,358
Multi-utilities 2.0%        
CenterPoint Energy, Inc. (6.125% to 9-1-23, then 3 month LIBOR + 3.270%) (B) 6.125 09-01-23   237,000 225,743
Dominion Energy, Inc. (4.350% to 1-15-27, then 5 Year CMT + 3.195%) (B) 4.350 01-15-27   100,000 84,000
Dominion Energy, Inc. (5.750% to 10-1-24, then 3 month LIBOR + 3.057%) 5.750 10-01-54   186,000 176,235
Capital preferred securities 0.7%     $172,991
(Cost $181,445)          
Financials 0.7%       172,991
Insurance 0.7%        
MetLife Capital Trust IV (7.875% to 12-15-37, then 3 month LIBOR + 3.960%) (C) 7.875 12-15-37   164,000 172,991
    
    Yield (%)   Shares Value
Short-term investments 1.6%     $411,966
(Cost $411,962)          
Short-term funds 1.6%         411,966
John Hancock Collateral Trust (D) 4.9058(E)   41,209 411,966
Total investments (Cost $26,352,731) 99.1%       $24,600,440
Other assets and liabilities, net 0.9%       219,644
Total net assets 100.0%         $24,820,084
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated.
^All par values are denominated in U.S. dollars unless otherwise indicated.
Security Abbreviations and Legend
CME Chicago Mercantile Exchange
CMT Constant Maturity Treasury
LIBOR London Interbank Offered Rate
SOFR Secured Overnight Financing Rate
(A) Variable rate obligation. The coupon rate shown represents the rate at period end.
(B) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(C) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(D) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(E) The rate shown is the annualized seven-day yield as of 4-30-23.
U.S. HIGH DIVIDEND ETF
As of 4-30-23
        Shares Value
Common stocks 99.3%         $6,589,256
(Cost $6,153,829)          
Communication services 6.3%     419,792
Diversified telecommunication services 3.7%      
AT&T, Inc.     6,620 116,975
Verizon Communications, Inc.     3,322 128,993
Media 2.6%      
Comcast Corp., Class A     581 24,036
Omnicom Group, Inc.     491 44,470
Paramount Global, Class B     1,099 25,640
The Interpublic Group of Companies, Inc.     2,230 79,678
28 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Consumer discretionary 7.8%     $516,620
Automobiles 0.9%      
Ford Motor Company     5,259 62,477
Hotels, restaurants and leisure 1.7%      
Starbucks Corp.     1,000 114,290
Household durables 1.2%      
Garmin, Ltd.     218 21,401
Whirlpool Corp.     426 59,465
Leisure products 0.4%      
Hasbro, Inc.     410 24,280
Specialty retail 1.9%      
Best Buy Company, Inc.     968 72,135
The Home Depot, Inc.     178 53,496
Textiles, apparel and luxury goods 1.7%      
NIKE, Inc., Class B     145 18,374
VF Corp.     3,858 90,702
Consumer staples 4.8%     317,767
Consumer staples distribution and retail 0.3%      
Target Corp.     124 19,561
Food products 0.4%      
Archer-Daniels-Midland Company     363 28,343
Tobacco 4.1%      
Altria Group, Inc.     2,951 140,202
Philip Morris International, Inc.     1,297 129,661
Energy 5.3%     354,810
Oil, gas and consumable fuels 5.3%      
Chevron Corp.     389 65,578
Exxon Mobil Corp.     1,121 132,659
Kinder Morgan, Inc.     2,089 35,826
ONEOK, Inc.     1,846 120,747
Financials 15.3%     1,015,397
Banks 0.6%      
Huntington Bancshares, Inc.     1,408 15,770
Truist Financial Corp.     664 21,633
Capital markets 7.2%      
BlackRock, Inc.     177 118,802
CME Group, Inc.     519 96,415
Franklin Resources, Inc.     653 17,553
T. Rowe Price Group, Inc.     1,137 127,719
The Carlyle Group, Inc.     3,170 96,146
The Charles Schwab Corp.     399 20,844
Consumer finance 0.7%      
Ally Financial, Inc.     1,126 29,704
American Express Company     121 19,522
Financial services 1.7%      
Fidelity National Information Services, Inc.     339 19,906
The Western Union Company     8,813 96,326
Insurance 3.0%      
Fidelity National Financial, Inc.     1,346 47,770
Principal Financial Group, Inc.     438 32,714
Prudential Financial, Inc.     1,359 118,233
Mortgage real estate investment trusts 2.1%      
Starwood Property Trust, Inc.     7,621 136,340
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 29
Table of Contents
        Shares Value
Health care 11.1%     $737,950
Biotechnology 4.6%      
AbbVie, Inc.     811 122,558
Amgen, Inc.     205 49,147
Gilead Sciences, Inc.     1,586 130,385
Health care equipment and supplies 1.1%      
Abbott Laboratories     678 74,899
Health care providers and services 0.6%      
UnitedHealth Group, Inc.     86 42,320
Life sciences tools and services 0.7%      
Danaher Corp.     121 28,666
Thermo Fisher Scientific, Inc.     28 15,537
Pharmaceuticals 4.1%      
Eli Lilly & Company     216 85,506
Merck & Company, Inc.     742 85,679
Pfizer, Inc.     2,655 103,253
Industrials 8.4%     555,589
Air freight and logistics 1.9%      
United Parcel Service, Inc., Class B     696 125,148
Electrical equipment 1.2%      
Rockwell Automation, Inc.     283 80,205
Ground transportation 0.8%      
Old Dominion Freight Line, Inc.     73 23,388
Union Pacific Corp.     145 28,377
Industrial conglomerates 1.6%      
3M Company     1,018 108,132
Machinery 0.4%      
Caterpillar, Inc.     114 24,943
Professional services 2.2%      
Automatic Data Processing, Inc.     218 47,960
Paychex, Inc.     917 100,742
Trading companies and distributors 0.3%      
W.W. Grainger, Inc.     24 16,694
Information technology 30.7%     2,034,510
Communications equipment 1.8%      
Cisco Systems, Inc.     2,542 120,110
IT services 2.3%      
Accenture PLC, Class A     122 34,195
IBM Corp.     945 119,457
Semiconductors and semiconductor equipment 10.1%      
Broadcom, Inc.     208 130,312
Intel Corp.     2,951 91,658
KLA Corp.     178 68,804
Lam Research Corp.     73 38,258
Monolithic Power Systems, Inc.     180 83,155
NVIDIA Corp.     486 134,860
NXP Semiconductors NV     121 19,813
Qualcomm, Inc.     506 59,101
Texas Instruments, Inc.     266 44,475
Software 9.4%      
Gen Digital, Inc.     877 15,497
Intuit, Inc.     294 130,521
Microsoft Corp.     1,276 392,064
Oracle Corp.     895 84,774
30 JOHN HANCOCK ETFS | ANNUAL REPORT SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
        Shares Value
Information technology (continued)      
Technology hardware, storage and peripherals 7.1%      
Apple, Inc.     2,500 $424,198
HP, Inc.     1,456 43,258
Materials 3.1%     204,619
Chemicals 2.0%      
LyondellBasell Industries NV, Class A     1,386 131,129
Containers and packaging 1.1%      
International Paper Company     1,329 44,003
Packaging Corp. of America     218 29,487
Real estate 3.4%     229,103
Specialized REITs 3.4%      
Gaming and Leisure Properties, Inc.     2,327 121,004
Public Storage     297 87,565
VICI Properties, Inc.     605 20,534
Utilities 3.1%     203,099
Electric utilities 3.1%      
Evergy, Inc.     455 28,260
Exelon Corp.     1,088 46,175
NextEra Energy, Inc.     653 50,039
The Southern Company     1,069 78,625
    
    Yield (%)   Shares Value
Short-term investments 0.3%         $18,765
(Cost $18,764)          
Short-term funds 0.3%         18,765
John Hancock Collateral Trust (A) 4.9058(B)   1,877 18,765
    
Total investments (Cost $6,172,593) 99.6%     $6,608,021
Other assets and liabilities, net 0.4%       24,690
Total net assets 100.0%         $6,632,711
    
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund.
Security Abbreviations and Legend
(A) Investment is an affiliate of the fund, the advisor and/or subadvisor.
(B) The rate shown is the annualized seven-day yield as of 4-30-23.
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL REPORT | JOHN HANCOCK ETFS 31
Table of Contents
Financial statements
STATEMENTS OF ASSETS AND LIABILITIES 4-30-23
  Corporate Bond ETF International High Dividend ETF Mortgage-Backed Securities ETF Preferred Income ETF U.S. High Dividend ETF
Assets          
Unaffiliated investments, at value $23,978,127 $6,114,195 $26,392,535 $24,188,474 $6,589,256
Affiliated investments, at value 55,879 94,864 291,462 411,966 18,765
Total investments, at value 24,034,006 6,209,059 26,683,997 24,600,440 6,608,021
Receivable for futures variation margin — — 10,018 — —
Cash — — — 16,175 33
Foreign currency, at value — 69 — — —
Collateral held at broker for futures contracts — — 50,000 40,000 29,994
Dividends and interest receivable 281,232 58,712 105,309 150,855 10,374
Receivable for fund shares sold — — — 1,053,996 —
Receivable for investments sold — — — 83,327 —
Receivable from affiliates 1,531 7,207 10,735 7,646 3,162
Other assets 5,541 6,579 4,888 7,044 6,404
Total assets 24,322,310 6,281,626 26,864,947 25,959,483 6,657,988
Liabilities          
Payable for investments purchased — — 100,000 1,096,367 —
Payable to affiliates          
Accounting and legal services fees 1,344 370 1,572 1,310 413
Other liabilities and accrued expenses 43,963 23,520 42,294 41,722 24,864
Total liabilities 45,307 23,890 143,866 1,139,399 25,277
Net assets $24,277,003 $6,257,736 $26,721,081 $24,820,084 $6,632,711
Net assets consist of          
Paid-in capital $27,520,776 $5,856,748 $29,929,250 $28,020,461 $6,290,043
Total distributable earnings (loss) (3,243,773) 400,988 (3,208,169) (3,200,377) 342,668
Net assets $24,277,003 $6,257,736 $26,721,081 $24,820,084 $6,632,711
Unaffiliated investments, at cost $26,149,883 $5,792,412 $29,193,485 $25,940,769 $6,153,829
Affiliated investments, at cost $55,873 $94,864 $291,447 $411,962 $18,764
Foreign currency, at cost — $69 — — —
Net asset value per share          
Based on net asset values and shares outstanding-the fund has an unlimited number of shares authorized with no par value.          
Net assets $24,277,003 $6,257,736 $26,721,081 $24,820,084 $6,632,711
Shares outstanding 1,150,000 230,000 1,225,000 1,175,000 240,000
Net asset value per share $21.11 $27.21 $21.81 $21.12 $27.64
32 JOHN HANCOCK ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF OPERATIONS For the year ended 4-30-23
  Corporate Bond ETF International High Dividend ETF1 Mortgage-Backed Securities ETF Preferred Income ETF U.S. High Dividend ETF2
Investment income          
Interest $711,808 — $1,037,167 $487,061 —
Dividends from affiliated investments 3,727 $776 9,285 11,243 $1,398
Dividends from unaffiliated investments — 152,654 — 780,117 116,197
Less foreign taxes withheld — (14,976) — (2,632) (32)
Total investment income 715,535 138,454 1,046,452 1,275,789 117,563
Expenses          
Investment management fees 45,961 8,100 83,856 96,844 10,364
Accounting and legal services fees 3,598 391 4,458 3,658 681
Transfer agent fees 10,000 833 10,000 9,583 2,917
Trustees’ fees 506 42 676 552 62
Custodian fees 46,994 8,526 45,304 40,490 14,329
Printing and postage 20,366 4,653 20,257 20,154 8,727
Professional fees 28,504 17,587 39,159 78,392 17,463
Stock exchange listing fees 20,657 3,215 24,824 17,986 5,548
Other 11,833 2,159 11,527 38,054 2,656
Total expenses 188,419 45,506 240,061 305,713 62,747
Less expense reductions (132,750) (35,823) (143,889) (198,615) (50,459)
Net expenses 55,669 9,683 96,172 107,098 12,288
Net investment income 659,866 128,771 950,280 1,168,691 105,275
Realized and unrealized gain (loss)          
Net realized gain (loss) on          
Unaffiliated investments and foreign currency transactions (889,670) (18,794) (240,992) (1,443,966) (95,928)
Affiliated investments 6 (20) 141 (13) (63)
Futures contracts — 1,461 (29,765) 163,081 (9,214)
Redemptions in kind — 44,318 — (139,139) 149,267
  (889,664) 26,965 (270,616) (1,420,037) 44,062
Change in net unrealized appreciation (depreciation) of          
Unaffiliated investments and translation of assets and liabilities in foreign currencies 394,691 321,439 (755,748) (741,809) 435,427
Affiliated investments 6 — 15 4 1
Futures — — 51,863 (86,978) —
  394,697 321,439 (703,870) (828,783) 435,428
Net realized and unrealized gain (loss) (494,967) 348,404 (974,486) (2,248,820) 479,490
Increase (decrease) in net assets from operations $164,899 $477,175 $(24,206) $(1,080,129) $584,765
    
   
1 Period from 12-20-22 (commencement of operations) to 4-30-23.
2 Period from 9-27-22 (commencement of operations) to 4-30-23.
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL | JOHN HANCOCK ETFS 33
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STATEMENTS OF CHANGES IN NET ASSETS  
  Corporate
Bond ETF 		International High
Dividend ETF 		Mortgage-Backed
Securities ETF
  Year ended
4-30-23 		Year ended
4-30-22 		Period ended
4-30-231 		Year ended
4-30-23 		Period ended
4-30-222
Increase (decrease) in net assets          
From operations          
Net investment income $659,866 $483,655 $128,771 $950,280 $327,241
Net realized gain (loss) (889,664) 51,177 26,965 (270,616) (71,609)
Change in net unrealized appreciation (depreciation) 394,697 (2,747,007) 321,439 (703,870) (2,045,202)
Increase (decrease) in net assets resulting from operations 164,899 (2,212,175) 477,175 (24,206) (1,789,570)
Distributions to shareholders          
From earnings (745,320) (640,804) (32,005) (1,045,754) (351,819)
From fund share transactions          
Shares issued 6,317,023 1,207,092 6,331,932 2,745,725 27,186,705
Shares repurchased — — (519,366) — —
Total from fund share transactions 6,317,023 1,207,092 5,812,566 2,745,725 27,186,705
Total increase (decrease) 5,736,602 (1,645,887) 6,257,736 1,675,765 25,045,316
Net assets          
Beginning of year 18,540,401 20,186,288 — 25,045,316 —
End of year $24,277,003 $18,540,401 $6,257,736 $26,721,081 $25,045,316
Share activity          
Shares outstanding          
Beginning of year 850,000 800,000 — 1,100,000 —
Shares issued 300,000 50,000 250,000 125,000 1,100,000
Shares repurchased — — (20,000) — —
End of year 1,150,000 850,000 230,000 1,225,000 1,100,000
    
   
1 Period from 12-20-22 (commencement of operations) to 4-30-23.
2 Period from 8-18-21 (commencement of operations) to 4-30-22.
34 JOHN HANCOCK ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
STATEMENTS OF CHANGES IN NET ASSETS  
Continued
    
  Preferred
Income ETF 		U.S. High
Dividend ETF
  Year ended
4-30-23 		Period ended
4-30-223 		Period ended
4-30-234
Increase (decrease) in net assets      
From operations      
Net investment income $1,168,691 $263,561 $105,275
Net realized gain (loss) (1,420,037) (131,610) 44,062
Change in net unrealized appreciation (depreciation) (828,783) (923,508) 435,428
Increase (decrease) in net assets resulting from operations (1,080,129) (791,557) 584,765
Distributions to shareholders      
From earnings (1,204,301) (265,880) (93,368)
From fund share transactions      
Shares issued 21,727,785 15,632,590 7,241,376
Shares repurchased (9,198,424) — (1,100,062)
Total from fund share transactions 12,529,361 15,632,590 6,141,314
Total increase 10,244,931 14,575,153 6,632,711
Net assets      
Beginning of year 14,575,153 — —
End of year $24,820,084 $14,575,153 $6,632,711
Share activity      
Shares outstanding      
Beginning of year 625,000 — —
Shares issued 975,000 625,000 280,000
Shares repurchased (425,000) — (40,000)
End of year 1,175,000 625,000 240,000
    
   
3 Period from 12-14-21 (commencement of operations) to 4-30-22.
4 Period from 9-27-22 (commencement of operations) to 4-30-23.
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL | JOHN HANCOCK ETFS 35
Table of Contents
Financial Highlights
CORPORATE BOND ETF
Period ended 4-30-23 4-30-22 4-30-211
Per share operating performance      
Net asset value, beginning of period $21.81 $25.23 $25.00
Net investment income2 0.72 0.60 0.05
Net realized and unrealized gain (loss) on investments (0.62) (3.23) 0.22
Total from investment operations 0.10 (2.63) 0.27
Less distributions      
From net investment income (0.80) (0.79) (0.04)
Net asset value, end of period $21.11 $21.81 $25.23
Total return (%)3 0.57 (10.77) 1.104
Ratios and supplemental data      
Net assets, end of period (in millions) $24 $19 $20
Ratios (as a percentage of average net assets):      
Expenses before reductions 0.98 0.94 0.725
Expenses including reductions 0.29 0.29 0.295
Net investment income 3.45 2.39 2.276
Portfolio turnover (%) 377 36 —8
    
   
1 Period from 3-30-21 (commencement of operations) to 4-30-21.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
7 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
8 Portfolio turnover for the period is 0% due to no sales activity.
INTERNATIONAL HIGH DIVIDEND ETF
Period ended 4-30-231
Per share operating performance  
Net asset value, beginning of period $24.91
Net investment income2 0.593
Net realized and unrealized gain (loss) on investments 1.85
Total from investment operations 2.44
Less distributions  
From net investment income (0.14)
Net asset value, end of period $27.21
Total return (%)4 9.795
Ratios and supplemental data  
Net assets, end of period (in millions) $6
Ratios (as a percentage of average net assets):  
Expenses before reductions 1.656
Expenses including reductions 0.466
Net investment income 6.113,7
Portfolio turnover (%) 58
    
   
1 Period from 12-20-22 (commencement of operations) to 4-30-23.
2 Based on average daily shares outstanding.
3 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.08 and 0.81%, respectively.
4 Total returns would have been lower had certain expenses not been reduced during the period.
5 Not annualized.
6 Annualized. Certain expenses are presented unannualized.
7 Annualized.
8 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
36 JOHN HANCOCK ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
MORTGAGE-BACKED SECURITIES ETF
Period ended 4-30-23 4-30-221
Per share operating performance    
Net asset value, beginning of period $22.77 $25.00
Net investment income2 0.84 0.38
Net realized and unrealized gain (loss) on investments (0.88) (2.22)
Total from investment operations (0.04) (1.84)
Less distributions    
From net investment income (0.92) (0.39)
Net asset value, end of period $21.81 $22.77
Total return (%)3 (0.03) (7.43)4
Ratios and supplemental data    
Net assets, end of period (in millions) $27 $25
Ratios (as a percentage of average net assets):    
Expenses before reductions 0.97 0.935
Expenses including reductions 0.39 0.395
Net investment income 3.85 2.206
Portfolio turnover (%) 20 33
    
   
1 Period from 8-18-21 (commencement of operations) to 4-30-22.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
PREFERRED INCOME ETF
Period ended 4-30-23 4-30-221
Per share operating performance    
Net asset value, beginning of period $23.32 $25.00
Net investment income2 1.32 0.43
Net realized and unrealized gain (loss) on investments (2.19) (1.68)
Total from investment operations (0.87) (1.25)
Less distributions    
From net investment income (1.33) (0.43)
Net asset value, end of period $21.12 $23.32
Total return (%)3 (3.81) (5.05)4
Ratios and supplemental data    
Net assets, end of period (in millions) $25 $15
Ratios (as a percentage of average net assets):    
Expenses before reductions 1.55 1.155
Expenses including reductions 0.54 0.545
Net investment income 5.93 4.576
Portfolio turnover (%) 477 15
    
   
1 Period from 12-14-21 (commencement of operations) to 4-30-22.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the applicable periods.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
7 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
SEE NOTES TO FINANCIAL STATEMENTS ANNUAL | JOHN HANCOCK ETFS 37
Table of Contents
U.S. HIGH DIVIDEND ETF
Period ended 4-30-231
Per share operating performance  
Net asset value, beginning of period $24.95
Net investment income2 0.49
Net realized and unrealized gain (loss) on investments 2.61
Total from investment operations 3.10
Less distributions  
From net investment income (0.41)
Net asset value, end of period $27.64
Total return (%)3 12.454
Ratios and supplemental data  
Net assets, end of period (in millions) $7
Ratios (as a percentage of average net assets):  
Expenses before reductions 1.565
Expenses including reductions 0.345
Net investment income 3.016
Portfolio turnover (%) 157
    
   
1 Period from 9-27-22 (commencement of operations) to 4-30-23.
2 Based on average daily shares outstanding.
3 Total returns would have been lower had certain expenses not been reduced during the period.
4 Not annualized.
5 Annualized. Certain expenses are presented unannualized.
6 Annualized.
7 Portfolio turnover rate excludes securities received or delivered from in-kind transactions.
38 JOHN HANCOCK ETFS | ANNUAL SEE NOTES TO FINANCIAL STATEMENTS
Table of Contents
Notes to financial statements
Note 1—Organization
John Hancock Exchange-Traded Fund Trust (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, five of which are presented in this report (the funds). 
The investment objective of Corporate Bond ETF is to seek a high level of current income consistent with prudent investment risk.
The investment objective of Mortgage-Backed Securities ETF is to seek a high level of current income while seeking to outperform the benchmark over a market cycle.
The investment objective of Preferred Income ETF is to seek a high level of current income, consistent with preservation of capital.
The investment objective of International High Dividend ETF and U.S. High Dividend ETF is to seek a high level of current income. Long-term growth of capital is a secondary objective.
U.S. High Dividend ETF commenced operations on September 27, 2022.
International High Dividend ETF commenced operations on December 20, 2022.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The funds qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the funds:
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Advisor’s Valuation Policies and Procedures.
In order to value the securities, the funds use the following valuation techniques: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the funds in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor valued at London close.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the Pricing Committee, following procedures established by the Advisor and adopted by the Board of Trustees. The Advisor may use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
The funds use a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
  ANNUAL REPORT | JOHN HANCOCK ETFS 39
Table of Contents
The following is a summary of the values by input classification of the funds’ investments as of April 30, 2023, by major security category or type:
  Total
value at
4-30-23 		Level 1
quoted
price 		Level 2
significant
observable
inputs 		Level 3
significant
unobservable
inputs
Corporate Bond ETF        
Investments in securities:        
Assets        
Corporate bonds   $23,978,127 —   $23,978,127 —
Short-term investments   55,879   $55,879 — —
Total investments in securities   $24,034,006   $55,879   $23,978,127 —
 
International High Dividend ETF        
Investments in securities:        
Assets        
Common stocks   $5,992,535   $5,992,535 — —
Preferred securities   121,660   121,660 — —
Short-term investments   94,864   94,864 — —
Total investments in securities   $6,209,059   $6,209,059 — —
 
Mortgage-Backed Securities ETF        
Investments in securities:        
Assets        
U.S. Government and Agency obligations   $12,511,500 —   $12,511,500 —
Collateralized mortgage obligations   9,487,779 —   9,487,779 —
Asset backed securities   4,393,256 —   4,393,256 —
Short-term investments   291,462   $291,462 — —
Total investments in securities   $26,683,997   $291,462   $26,392,535 —
Derivatives:        
Assets        
Futures   $51,863   $51,863 — —
 
Preferred Income ETF        
Investments in securities:        
Assets        
Preferred securities        
Communication services   $925,726   $925,726 — —
Consumer discretionary   151,531   151,531 — —
Energy   198,854   198,854 — —
Financials   7,363,105   7,213,440   $149,665 —
Industrials   188,278   188,278 — —
Real estate   247,833   247,833 — —
Utilities   4,185,593   3,894,066   291,527 —
Common stocks   460,497   460,497 — —
Corporate bonds   10,294,066 —   10,294,066 —
Capital preferred securities   172,991 —   172,991 —
Short-term investments   411,966   411,966 — —
Total investments in securities   $24,600,440   $13,692,191   $10,908,249 —
 
U.S. High Dividend ETF        
Investments in securities:        
Assets        
Common stocks   $6,589,256   $6,589,256 — —
Short-term investments   18,765   18,765 — —
Total investments in securities   $6,608,021   $6,608,021 — —
Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the
40 JOHN HANCOCK ETFS | ANNUAL REPORT  
Table of Contents
funds may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the funds may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.
Mortgage and asset backed securities. The funds may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the funds having to reinvest the proceeds in lower yielding securities, effectively reducing the funds’ income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the funds’ cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g. FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The funds are also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.
Real estate investment trusts. The funds may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the funds will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The funds may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the funds’ understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the funds as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The funds may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the funds’ custodian agreement, the custodian may loan money to the funds to make properly authorized payments. The funds are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The funds and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.
A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating fund based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations. For the period ended April 30, 2023, the funds had no borrowings under the line of credit.
Commitment fees for the period ended April 30, 2023 were as follows:
Fund Commitment fee
Corporate Bond ETF   $3,333
International High Dividend ETF   278
Mortgage-Backed Securities ETF   3,356
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Fund Commitment fee
Preferred Income ETF   $3,602
U.S. High Dividend ETF   278
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Federal income taxes. Each fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of April 30, 2023, certain funds have short-term and long-term capital loss carryforwards available to offset future net realized capital gains. These carryforwards do not expire. The following table details the capital loss carryforwards available as of April 30, 2023:
  No Expiration Date
Fund Short Term Long Term
Corporate Bond ETF   $162,457   $798,626
International High Dividend ETF   17,510   —
Mortgage-Backed Securities ETF   265,153   212,469
Preferred Income ETF   1,247,812   150,435
U.S. High Dividend ETF   102,022   3,773
Due to certain Internal Revenue Code rules, utilization of the capital loss carryforwards may be limited in future years.
As of April 30, 2023, the funds had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The funds’ federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
For federal income tax purposes, the costs of investments owned on April 30, 2023, including short-term investments, were as follows:
Fund Aggregate
cost 		Unrealized
appreciation 		Unrealized
(depreciation) 		Net unrealized
appreciation/
(depreciation)
Corporate Bond ETF   $26,355,343   $69,684   $(2,391,021)   $(2,321,337)
International High Dividend ETF   5,892,055   443,226   (126,222)   317,004
Mortgage-Backed Securities ETF   29,565,071   166,345   (2,995,556)   (2,829,211)
Preferred Income ETF   26,454,193   84,151   (1,937,904)   (1,853,753)
U.S. High Dividend ETF   6,172,846   611,030   (175,855)   435,175
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. International High Dividend ETF and U.S. High Dividend ETF generally declare and pay dividends from net investment income quarterly. All other funds generally declare and pay dividends from net investment income monthly. All funds generally declare and pay capital gain distributions, if any, annually.
The tax character of distributions for the period ended April 30, 2023 was as follows:
Fund Ordinary
Income
Corporate Bond ETF   $745,320
International High Dividend ETF   32,005
Mortgage-Backed Securities ETF   1,045,754
Preferred Income ETF   1,204,301
U.S. High Dividend ETF   93,368
The tax character of distributions for the period ended April 30, 2022 was as follows:
Fund Ordinary
Income
Corporate Bond ETF   $640,804
Mortgage-Backed Securities ETF   351,819
Preferred Income ETF   265,880
As of April 30, 2023, the components of distributable earnings on a tax basis were as follows:
Fund Undistributed
Ordinary Income
Corporate Bond ETF   $38,647
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Fund Undistributed
Ordinary Income
International High Dividend ETF   $101,838
Mortgage-Backed Securities ETF   98,664
Preferred Income ETF   59,420
U.S. High Dividend ETF   13,288
Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the funds’ financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to redemptions-in-kind, amortization and accretion on debt securities, investments in passive foreign investment companies, wash sale loss deferrals, contingent payment debt instruments and derivative transactions.
Note 3—Derivative instruments
The funds may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the funds are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the funds and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the funds to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the funds to unlimited risk of loss.
Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by a fund, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the funds, if any, are identified in the Funds’ investments. Subsequent payments, referred to as variation margin, are made or received by a fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, a fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
The following table details how the funds used futures contracts during the period ended April 30, 2023. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
Fund Reason USD Notional range
International High Dividend ETF The fund used futures contracts to manage against changes in certain securities markets. At April 30, 2023, there were no open futures contracts. Up to $506,000
Mortgage-Backed Securities ETF The fund used futures contracts to manage against changes in interest rate. Up to $1.1 million
Preferred Income ETF The fund used futures contracts to manage against changes in interest rate. At April 30, 2023, there were no open futures contracts. Up to $2.3 million
U.S. High Dividend ETF The fund used futures contracts to manage against changes in certain securities markets. At April 30, 2023, there were no open futures contracts. Up to $413,000
Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the funds at April 30, 2023 by risk category:
Fund Risk Statements of
assets and
liabilities location 		Financial
instruments
location 		Assets
derivatives
fair value 		Liabilities
derivatives
fair value
Mortgage-Backed Securities ETF Interest rate Receivable/payable for futures variation margin1 Futures   $51,863 —
    
1 Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Funds’ investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.
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Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the period ended April 30, 2023:
    Statements of operations location - Net realized gain (loss) on:
Fund Risk Futures contracts
International High Dividend ETF Equity   $1,461
Mortgage-Backed Securities ETF Interest rate   $(29,765)
Preferred Income ETF Interest rate   $163,081
U.S. High Dividend ETF Equity   $(9,214)
The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the period ended April 30, 2023:
    Statements of operations location - Change in net unrealized appreciation (depreciation) of:
Fund Risk Futures contracts
Mortgage-Backed Securities ETF Interest rate   $51,863
Preferred Income ETF Interest rate   $(86,978)
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the funds. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the funds. The Advisor is an indirect, principally owned subsidiary of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation (MFC).
Management fee. The funds have an investment management agreement with the Advisor under which each fund pays a monthly management fee to the Advisor equivalent on an annual basis as detailed below. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirectly owned subsidiary of MFC and an affiliate of the Advisor. The funds are not responsible for payment of the subadvisory fees.
Fund Average daily net assets
Corporate Bond ETF 0.24%
International High Dividend ETF 0.39%
Mortgage-Backed Securities ETF 0.34%
Fund Average daily net assets
Preferred Income ETF 0.49%
U.S. High Dividend ETF 0.29%
 
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the funds (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of the funds. During the period ended April 30, 2023, this waiver amounted to 0.01% of the funds’ average daily net assets, on an annualized basis. This arrangement expires on July 31, 2024, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor contractually agrees to reduce its management fee or, if necessary, make a payment to Corporate Bond ETF, International High Dividend ETF, Mortgage-Backed Securities ETF, Preferred Income ETF and U.S. High Dividend ETF in an amount equal to the amount by which expenses of the funds exceed 0.29%, 0.46%, 0.39%, 0.54% and 0.34%, respectively, of average daily net assets. Expenses means all the expenses of the funds, 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 funds’ 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, 2023 for Corporate Bond ETF, Mortgage-Backed Securities ETF and Preferred Income ETF, and on August 31, 2024 for International High Dividend ETF and U.S. High Dividend ETF, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The expense reductions described above amount to the following for the period ended April 30, 2023.
Fund Expense reimbursement
Corporate Bond ETF   $132,750
International High Dividend ETF   35,823
Mortgage-Backed Securities ETF   143,889
Fund Expense reimbursement
Preferred Income ETF   $198,615
U.S. High Dividend ETF   50,459
 
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Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the period ended April 30, 2023, were equivalent to a net annual effective rate of the funds’ average daily net assets:
Fund Net Annual Effective Rate
Corporate Bond ETF 0.00%
International High Dividend ETF 0.00%
Mortgage-Backed Securities ETF 0.00%
Fund Net Annual Effective Rate
Preferred Income ETF 0.00%
U.S. High Dividend ETF 0.00%
 
Accounting and legal services.Pursuant to a service agreement, the funds reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the funds, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These accounting and legal services fees incurred, for the period ended April 30, 2023, amounted to an annual rate of 0.02% of the funds’ average daily net assets. 
Trustee expenses. The funds compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on their net assets relative to other funds within the John Hancock group of funds complex.
Note 6—Capital share transactions
The funds will issue and redeem shares only in a large number of specified shares, each called a “creation unit,” or multiples thereof. The funds issue and redeem shares at NAV in creation units of 50,000, 10,000, 25,000, 25,000 and 10,000 shares for Corporate Bond ETF, International High Dividend ETF, Mortgage-Backed Securities ETF, Preferred Income ETF and U.S. High Dividend ETF, respectively.
Only authorized participants may engage in creation or redemption transactions directly with the funds. Such transactions generally take place when an authorized participant deposits into a fund a designated portfolio of securities and/or cash in exchange for a specified number of creation units. Similarly, shares can be redeemed only in creation units, generally for a designated portfolio of securities and/or cash. For purposes of US GAAP, in-kind redemption transactions are treated as a sale of securities and any resulting gains and losses are recognized based on the market value of the securities on the date of the transfer. Authorized participants pay a transaction fee to the custodian when purchasing and redeeming creation units of the funds. The transaction fee is used to defray the costs associated with the issuance and redemption of creation units. Individual shares of the funds may only be purchased and sold in secondary market transactions through brokers. Secondary market transactions may be subject to brokerage commissions. Shares of the funds are listed and traded on the NYSE Arca, Inc., trade at market prices rather than NAV, and may trade at a price greater than or less than NAV.
Authorized participants transacting in creation or redemption of units for cash may also pay an additional variable charge to compensate the relevant fund for the costs associated with purchasing or selling the applicable securities. For the period ended April 30, 2023, such variable charges were $373, $2,743 and $65,984 for International High Dividend ETF, Mortgage-Backed Securities ETF and Preferred Income ETF, respectively. These charges are included in shares issued or repurchased on the Statements of Changes in Net Assets.
Affiliates of Corporate Bond ETF, International High Dividend ETF, Mortgage-Backed Securities ETF, Preferred Income ETF and U.S. High Dividend ETF owned 61%, 83%, 56%, 36% and 79%, respectively, of shares of the fund on April 30, 2023. Such concentration of shareholders’ capital could have a material effect on a fund if such shareholders redeem from the fund.
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, are aggregated below for the period ended April 30, 2023. In addition, purchases and sales of in-kind transactions are aggregated below for the period ended April 30, 2023:
  Purchases Sales and maturities
Fund U.S. Treasury In-kind transactions Non in-kind transactions U.S. Treasury In-kind transactions Non in-kind transactions
Corporate Bond ETF —   $6,294,243   $7,040,005 — —   $7,108,849
International High Dividend ETF —   5,604,089   887,897 —   $457,856   267,081
Mortgage-Backed Securities ETF   $811,920 —   7,221,815   $437,794 —   4,558,491
Preferred Income ETF —   8,867,788   18,746,697 —   5,987,054   9,164,867
U.S. High Dividend ETF —   6,047,548   1,908,831 —   953,701   898,799
Note 8—Industry or sector risk
The funds may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a fund’s assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund’s NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors. Financial services companies can be hurt by economic declines, changes in interest rates, and regulatory and market impacts.
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Note 9—Investment in affiliated underlying funds
The funds may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the funds’ fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the funds, if any, is as follows:
              Dividends and distributions
Affiliate Ending
share
amount 		Beginning
value 		Cost of
purchases 		Proceeds
from shares
sold 		Realized
gain
(loss) 		Change in
unrealized
appreciation
(depreciation) 		Income
distributions
received 		Capital gain
distributions
received 		Ending
value
Corporate Bond ETF
John Hancock Collateral Trust 5,590 —   $1,006,145   $(950,278)   $6   $6   $3,727 —   $55,879
International High Dividend ETF
John Hancock Collateral Trust 9,489 —   $631,462   $(536,578)   $(20) —   $776 —   $94,864
Mortgage-Backed Securities ETF
John Hancock Collateral Trust 29,155 —   $6,356,690   $(6,065,384)   $141   $15   $9,285 —   $291,462
Preferred Income ETF
John Hancock Collateral Trust 41,209 —   $9,502,015   $(9,090,040)   $(13)   $4   $11,243 —   $411,966
U.S. High Dividend ETF
John Hancock Collateral Trust 1,877 —   $1,384,119   $(1,365,292)   $(63)   $1   $1,398 —   $18,765
Note 10—LIBOR discontinuation risk
LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR’s usefulness may deteriorate and these effects could be experienced until the permanent cessation of the majority of U.S. LIBOR rates in 2023. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR’s deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.
The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR maturities, including some U.S. LIBOR maturities, on December 31, 2021, and is expected to cease publishing the remaining and most liquid U.S. LIBOR maturities on June 30, 2023. It is expected that market participants have or will transition to the use of alternative reference or benchmark rates prior to the applicable LIBOR publication cessation date. Additionally, although regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate ("SOFR"), the future utilization of LIBOR or of any particular replacement rate remains uncertain.
The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will adopt alternative rates such as SOFR or otherwise amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. Uncertainty and risk remain regarding the willingness and ability of issuers and lenders to include alternative rates and revised provisions in new and existing contracts or instruments. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.
Note 11—New accounting pronouncement
In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2024. Management expects that the adoption of the guidance will not have a material impact to the financial statements.
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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the Board of Trustees of John Hancock Exchange-Traded Fund Trust and Shareholders of Corporate Bond ETF, International High Dividend ETF, Mortgage-Backed Securities ETF, Preferred Income ETF, and U.S. High Dividend ETF
Opinions on the Financial Statements      
We have audited the accompanying statements of assets and liabilities, including the funds’ investments, of each of the funds listed in the table below (five of the funds constituting John Hancock Exchange-Traded Traded Fund Trust, hereafter collectively referred to as the “Funds”) as of April 30, 2023, the related statements of operations and of changes in net assets for each of the periods indicated in the table below, including the related notes, and the financial highlights for each of the periods indicated in the table below (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of April 30, 2023, the results of each of their operations, the changes in each of their net assets, and each of the financial highlights for each of the periods indicated in the table below, in conformity with accounting principles generally accepted in the United States of America.
Fund Statement of
operations 		Statements of
changes in net assets 		Financial Highlights
Corporate Bond ETF For the year ended April 30, 2023 For each of the two years in the period ended April 30, 2023 For each of the two years in the period ended April 30, 2023 and for the period March 30, 2021 (commencement of operations) through April 30, 2021
International High Dividend ETF For the period December 20, 2022 (commencement of operations) through April 30, 2023 For the period December 20, 2022 (commencement of operations) through April 30, 2023 For the period December 20, 2022 (commencement of operations) through April 30, 2023
Mortgage-Backed Securities ETF For the year ended April 30, 2023 For the year ended April 30, 2023 and for the period August 18, 2021 (commencement of operations) through April 30, 2022 For the year ended April 30, 2023 and for the period August 18, 2021 (commencement of operations) through April 30, 2022
Preferred Income ETF For the year ended April 30, 2023 For the year ended April 30, 2023 and for the period December 14, 2021 (commencement of operations) through April 30, 2022 For the year ended April 30, 2023 and for the period December 14, 2021 (commencement of operations) through April 30, 2022
U.S. High Dividend ETF For the period September 27, 2022 (commencement of operations) through April 30, 2023 For the period September 27, 2022 (commencement of operations) through April 30, 2023 For the period September 27, 2022 (commencement of operations) through April 30, 2023
Basis for Opinions      
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of April 30, 2023 by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
June 5, 2023 		     
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.      
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Tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the funds, if any, paid during its taxable year ended April 30, 2023.
Each fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
Each fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Each fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
Each fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Fund Foreign sourced income Foreign tax credit
International High Dividend ETF $153,740 $14,976
Eligible shareholders will be mailed a 2023 Form 1099-DIV in early 2024. This will reflect the tax character of all distributions paid in calendar year 2023.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES
Approval of Advisory and Subadvisory Agreements
At videoconference1 meetings held on December 13-15, 2022, the Board of Trustees (the Board) of John Hancock Exchange-Traded Fund Trust (the Trust), including all of the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the Investment Company Act of 1940, as amended (the 1940 Act) (the Independent Trustees), reviewed and approved the establishment of John Hancock International High Dividend ETF (the New Fund). The Independent Trustees also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees.
At the December 13-15, 2022 meeting, the Board considered and approved with respect to the New Fund:
(a)an amendment to the advisory agreement between the Trust and John Hancock Investment Management LLC (the Advisor) (the Advisory Agreement); and
(b)an amendment to the subadvisory agreement between the Advisor and Manulife Investment Management (US) LLC (the Subadvisor) (the Subadvisory Agreement).
In considering the amendments to the Advisory Agreement and the Subadvisory Agreement with respect to the New Fund, the Board received in advance of the meetings a variety of materials relating to the New Fund, the Advisor and the Subadvisor, including comparative fee and expense information for a group of comparable exchange-traded funds, and other information regarding the nature, extent, and quality of services to be provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s anticipated revenues and costs of providing services in connection with its proposed relationship to the New Fund and any compensation paid to affiliates of the Advisor. The Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to other John Hancock Funds, including other exchange-traded funds (the Funds), including quarterly performance reports prepared by management containing reviews of investment results and periodic presentations from the Subadvisor with respect to the other Funds that it manages. The information received and considered by the Board in connection with the December meetings and throughout the year (with respect to other Funds) was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the New Fund by the Advisor and or its affiliates, including administrative services. The Board also took into account information with respect to the New Fund presented at its September 20-22, 2022 meeting. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the New Fund.
Throughout the process, the Board asked questions of and were afforded the opportunity to request additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed Advisory Agreement and Subadvisory Agreement and discussed the proposed Advisory Agreement and Subadvisory Agreement in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the New Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors.
The Board’s conclusions may have been based in part on relevant background information obtained in connection with its consideration of the advisory and subadvisory arrangements for other Funds in prior years.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent and quality of services to be provided to the New Fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the Funds’ compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board considered the investment strategy proposed for the New Fund. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the New Fund’s compliance programs, risk management programs, liquidity risk management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor would be responsible for the management of the day-to-day operations of the New Fund, including, but not limited to, general supervision and coordination of the services to be provided by the Subadvisor, and also would be responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers, including the New Fund’s distributor. The Board also considered the significant risks assumed by the Advisor in connection with the services to be provided to the New Fund, including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
1On June 19, 2020, as a result of health and safety measures put in place to combat the global COVID-19 pandemic, the Securities and Exchange Commission issued an exemptive order (the “Order”) pursuant to Sections 6(c) and 38(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), that temporarily exempts registered investment management companies from the in-person voting requirements under the 1940 Act, subject to certain requirements, including that votes taken pursuant to the Order are ratified at the next in-person meeting. The Board determined that reliance on the Order was necessary or appropriate due to the circumstances related to current or potential effects of COVID-19 and therefore, portions of the Board’s December 13-15, 2022 meeting were held via videoconference in reliance on the Order. This exemptive order supersedes, in part, a similar, earlier exemptive order issued by the SEC.
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In considering the nature, extent, and quality of the services to be provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management of other Funds and the quality of the performance of the Advisor’s duties with respect to other Funds, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a)the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationships, including with the Subadvisor, the Advisor’s oversight and monitoring of the subadvisors’ investment performance and compliance programs, such as the subadvisors’ compliance with fund policies and objectives; review of brokerage matters, including with respect to trade allocation and best execution; and the Advisor’s timeliness in responding to performance issues;
(b)the background, qualifications, and skills of the Advisor’s personnel;
(c)the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d)the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the New Fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the New Fund, and bringing loss recovery actions on behalf of the New Fund;
(e)the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the New Fund;
(f)the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the New Fund; and
(g)the Advisor’s reputation and experience in serving as an investment advisor to the Trust, and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to provide a high quality of services under the Advisory Agreement with respect to the New Fund.
Investment performance. In connection with its consideration of the Advisory Agreement, the Board considered the New Fund’s proposed investment strategy and processes, as well as the experience of the portfolio management team at the Subadvisor in managing other systematic exchange-traded funds. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds managed by the Advisor and the Subadvisor.
Fees and expenses. The Board reviewed comparative information including, among other data, the New Fund’s anticipated management fees and net total expenses as compared to similarly situated exchange-traded funds deemed to be comparable to the New Fund in light of the nature, extent, and quality of the investment management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board took into account management’s discussion of the New Fund’s anticipated expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the New Fund and the services they provide to other such comparable clients or funds.
The Board also took into account management’s discussion with respect to the proposed management fee and the fees of the Subadvisor, including the amount of the advisory fee to be retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor, and not the New Fund, would be responsible for paying the subadvisory fees. The Board also took into account that management has agreed to implement an overall fee waiver across a number of funds in the complex, including the New Fund, which is discussed further below.
The Board concluded that the advisory fees to be paid by the New Fund are reasonable in light of the nature, extent and quality of the services expected to be provided to the New Fund under the Advisory Agreement.
Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor’s relationship with the New Fund, the Board:
(a)reviewed financial information of the Advisor;
(b)noted that because the New Fund had not yet commenced operations, no actual revenue, cost or profitability data was available, although the Board received information from the Adviser on its projected profitability with respect to the New Fund;
(c)received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole;
(d)received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data;
(e)considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board;
(f)considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement;
(g)noted that the New Fund’s Subadvisor is an affiliate of the Advisor;
(h)noted that the Advisor will derive reputational and other indirect benefits from providing advisory services to the New Fund;
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(i)noted that the subadvisory fee for the New Fund will be paid by Advisor; and
(j)considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it will provide to the New Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
Based upon its review, the Board concluded that the anticipated level of profitability, if any, of the Advisor and its affiliates from their relationship with the New Fund is reasonable and not excessive.
Economies of scale. In considering the extent to which economies of scale would be realized if the New Fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
(a)considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the New Fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund;
(b)the Board also took into account management’s discussion of the New Fund’s advisory fee structure;
(c)the Board also considered the potential effect of the New Fund’s future growth in size on its performance and fees; and
(d)the Board also noted that if the New Fund’s assets increase over time, the New Fund may realize other economies of scale.
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
(1)information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); and
(2)the proposed subadvisory fee for the New Fund, including any breakpoints.
Nature, extent, and quality of services. With respect to the services to be provided by the Subadvisor, the Board received and reviewed information provided to the Board by the Subadvisor with respect to the New Fund and took into account information presented throughout the past year with respect to Funds in the complex managed by the Advisor and subadvised by the Subadvisor. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as considered information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who will provide services to the New Fund. The Board considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular periodic reviews of the Subadvisor and its operations in regard to the Funds, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board also considered the experience of the portfolio management team that would be responsible for managing the New Fund’s assets.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the New Fund, the Board noted that the fees under the Subadvisory Agreement will be paid by the Advisor and not the New Fund. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the New Fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the New Fund will pay an advisory fee to the Advisor and that, in turn, the Advisor will pay a subadvisory fee to the Subadvisor.
Subadvisor performance. As noted above, the Board considered the New Fund’s investment strategies and processes. The Board also noted that it reviews at its regularly scheduled meetings information about the performance of other John Hancock Funds, including other exchange-traded funds, managed by the Subadvisor. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
(1)the Subadvisor has extensive experience and demonstrated skills as a manager, and currently subadvises other Funds, including other exchange-traded funds, in the complex and the Board is generally satisfied with the Subadvisor’s management of these Funds, and may reasonably be expected to provide a high quality of investment management services to the New Fund;
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(2)the Subadvisor provided performance information for a composite of comparable accounts over various time periods;
(3)the proposed subadvisory fees are reasonable in relation to the level and quality of services to be provided under the Subadvisory Agreement; and
(4)that the subadvisory fees will be paid by the Advisor not the New Fund.
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, and assisted by the advice of independent legal counsel, the Board, including the Independent Trustees, concluded that approval of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the New Fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the amendments to the Advisory Agreement and the Subadvisory Agreement.
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STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Corporate Bond ETF, John Hancock International High Dividend ETF, John Hancock Mortgage-Backed Securities ETF, John Hancock Preferred Income ETF, and John Hancock U.S. High Dividend ETF, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Funds’ subadvisor(s), Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee receives monthly reports and holds quarterly in person meetings to: (1) review the day-to-day operations of the LRMP; (2) monitor current market and liquidity conditions and assess liquidity risks; (3) review and approve month-end liquidity classifications; (4) monitor illiquid investment levels against the 15% limit on illiquid investments and established Highly Liquid Investment Minimums (HLIMs), if any; (5) review quarterly testing and determinations, as applicable; (6) review redemption-in-kind activities; and (7) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity issues. The Committee also monitors global events, such as the ongoing Russian invasion of Ukraine and related U.S. imposed sanctions on the Russian government, companies and oligarchs, and other amendments to the Office of Foreign Assets Control sanctioned company lists, that could impact the markets and liquidity of portfolio investments and their classifications. In addition, the Committee monitors macro events and assesses their potential impact on liquidity brought on by fear of contagion (e.g. regional banking crisis).
The Committee provided the Board at a meeting held on March 28-30, 2023 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2022 through December 31, 2022, included an assessment of important aspects of the LRMP including, but not limited to: (1) Security-level liquidity classifications; (2) Fund-level liquidity risk assessment; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) HLIM determination and daily monitoring; (5) Daily compliance with the 15% limit on illiquid investments; (6) Operation of the Fund’s Redemption-In-Kind Procedures; and (7) Review of liquidity management facilities.
The report provided an update on Committee activities over the previous year. Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2022 and key initiatives for 2023.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.
The report stated, in relevant part, that during the period covered by the report:
• The Fund’s investment strategy remained appropriate for an open-end fund structure;
• The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund;
• The Fund did not experience any breaches of the 15% limit on illiquid investments, or any applicable HLIM, that would require reporting to the Securities and Exchange Commission;
• The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and
• The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures.
Adequacy and Effectiveness
Based on the annual review and assessment conducted by the Committee, the Committee has determined that the LRMP and its controls have been implemented and are operating in a manner that is adequately and effectively managing the liquidity risk of the Fund.
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Trustees and Officers
This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.
Independent Trustees    
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years 		Trustee
of the
Trust
since1 		Number of John
Hancock funds
overseen by
Trustee
Hassell H. McClellan, Born: 1945 2015 186
Trustee and Chairperson of the Board    
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex.
James R. Boyle, Born: 1959 2015 183
Trustee    
Board Member, United of Omaha Life Insurance Company (since 2022). Board Member, Mutual of Omaha Investor Services, Inc. (since 2022). Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015).
William H. Cunningham,2 Born: 1944 2015 184
Trustee    
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986).
Noni L. Ellison,* Born: 1971 2022 183
Trustee    
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Grace K. Fey, Born: 1946 2015 186
Trustee    
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Dean C. Garfield,* Born: 1968 2022 183
Trustee    
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
Deborah C. Jackson, Born: 1952 2015 185
Trustee    
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
Patricia Lizarraga,2,* Born: 1966 2022 183
Trustee    
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
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Independent Trustees (continued)    
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years 		Trustee
of the
Trust
since1 		Number of John
Hancock funds
overseen by
Trustee
Steven R. Pruchansky, Born: 1944 2015 183
Trustee and Vice Chairperson of the Board    
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex.
Frances G. Rathke,2 Born: 1960 2020 183
Trustee    
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020).
Gregory A. Russo, Born: 1949 2015 183
Trustee    
Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
    
Non-Independent Trustees3    
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years 		Trustee
of the
Trust
since1 		Number of John
Hancock funds
overseen by
Trustee
Andrew G. Arnott, Born: 1971 2017 184
President and Non-Independent Trustee    
Global Head of Retail for Manulife (since 2022); Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017).
Marianne Harrison,^ Born: 1963 2018 183
Non-Independent Trustee    
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013-2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013 and since 2017). Trustee of various trusts within the John Hancock Fund Complex (since 2018).
Paul Lorentz,† Born: 1968 2022 183
Non-Independent Trustee    
Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). Trustee of various trusts within the John Hancock Fund Complex (since 2022).
    
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Principal officers who are not Trustees  
Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years 		Current
Position(s)
with the
Trust
since
Charles A. Rizzo, Born: 1957 2015
Chief Financial Officer  
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007).
Salvatore Schiavone, Born: 1965 2015
Treasurer  
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions).
Christopher (Kit) Sechler, Born: 1973 2018
Secretary and Chief Legal Officer  
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions).
Trevor Swanberg, Born: 1979 2020
Chief Compliance Officer  
Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions).
The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.
The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-6020.
1 Each Trustee holds office until his or her successor is duly elected and qualified, or until the Trustee’s death, retirement, resignation, or removal.
2 Member of the Audit Committee.
3 The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates.
* Elected to serve as Independent Trustee effective as of September 9, 2022.
^ Ms. Harrison is retiring effective May 1, 2023.
† Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
56 JOHN HANCOCK ETFS | ANNUAL REPORT  
Table of Contents
More information
Trustees
Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†,#
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
Officers
Andrew G. Arnott
President
Charles A. Rizzo
Chief Financial Officer
Salvatore Schiavone
Treasurer
Christopher (Kit) Sechler
Secretary and Chief Legal Officer
Trevor Swanberg
Chief Compliance Officer
Investment advisor
John Hancock Investment Management LLC
Subadvisor
Manulife Investment Management (US) LLC
Portfolio Managers
The Investment Team at Manulife IM (US)
Principal distributor
Foreside Fund Services, LLC
Custodian
State Street Bank and Trust Company
Transfer agent
State Street Bank and Trust Company
Legal counsel
Dechert LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP
† Non-Independent Trustee
* Member of the Audit Committee
^ Elected to serve as Independent Trustee effective as of September 9, 2022.
#Ms. Harrison is retiring effective May 1, 2023.
‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
The funds’ proxy voting policies and procedures, as well as the funds’ proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the funds’ holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The funds’ Form N-PORT filings are available on our website and the SEC’s website, sec.gov.
We make this information on your funds’, as well as monthly portfolio holdings, and other funds’ details available on our website at jhinvestments.com/etf or by calling 800-225-6020.
You can also contact us:  
800-225-6020 Regular mail:
jhinvestments.com/etf John Hancock Investment Management
200 Berkeley Street
Boston, MA 02116
  ANNUAL REPORT | JOHN HANCOCK ETFS 57
Table of Contents
Table of Contents
Table of Contents
Table of Contents
John Hancock family of funds
U.S. EQUITY FUNDS
Blue Chip Growth
Classic Value
Disciplined Value
Disciplined Value Mid Cap
Equity Income
Financial Industries
Fundamental All Cap Core
Fundamental Large Cap Core
Mid Cap Growth
New Opportunities
Regional Bank
Small Cap Core
Small Cap Growth
Small Cap Value
U.S. Global Leaders Growth
U.S. Growth
INTERNATIONAL EQUITY FUNDS
Disciplined Value International
Emerging Markets
Emerging Markets Equity
Fundamental Global Franchise
Global Environmental Opportunities
Global Equity
Global Shareholder Yield
Global Thematic Opportunities
International Dynamic Growth
International Growth
International Small Company
FIXED-INCOME FUNDS
Bond
California Municipal Bond
Emerging Markets Debt
Floating Rate Income
Government Income
High Yield
High Yield Municipal Bond
Income
Investment Grade Bond
Money Market
Municipal Opportunities
Opportunistic Fixed Income
Short Duration Bond
Short Duration Municipal Opportunities
Strategic Income Opportunities
ALTERNATIVE FUNDS
Alternative Asset Allocation
Diversified Macro
Infrastructure
Multi-Asset Absolute Return
Real Estate Securities
Seaport Long/Short
A fund’s investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
Table of Contents
EXCHANGE-TRADED FUNDS
John Hancock Corporate Bond ETF
John Hancock International High Dividend ETF
John Hancock Mortgage-Backed Securities ETF
John Hancock Multifactor Developed International ETF
John Hancock Multifactor Emerging Markets ETF
John Hancock Multifactor Large Cap ETF
John Hancock Multifactor Mid Cap ETF
John Hancock Multifactor Small Cap ETF
John Hancock Preferred Income ETF
John Hancock U.S. High Dividend ETF
ASSET ALLOCATION/TARGET DATE FUNDS
Balanced
Multi-Asset High Income
Lifestyle Blend Portfolios
Lifetime Blend Portfolios
Multimanager Lifestyle Portfolios
Multimanager Lifetime Portfolios
Preservation Blend Portfolios
ENVIRONMENTAL, SOCIAL, AND
GOVERNANCE FUNDS
ESG Core Bond
ESG International Equity
ESG Large Cap Core
CLOSED-END FUNDS
Asset-Based Lending
Financial Opportunities
Hedged Equity & Income
Income Securities Trust
Investors Trust
Preferred Income
Preferred Income II
Preferred Income III
Premium Dividend
Tax-Advantaged Dividend Income
Tax-Advantaged Global Shareholder Yield
John Hancock ETF shares are bought and sold at market price (not NAV), and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no representation as to the advisability of investing in, John Hancock Multifactor ETFs.
Table of Contents
A trusted brand
John Hancock Investment Management is a premier asset manager
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
“A trusted brand” is based on a survey of 6,651 respondents conducted by Medallia between 3/18/20 and 5/13/20.
John Hancock Investment Management LLC, 200 Berkeley Street, Boston, MA 02116, 800-225-6020, jhinvestments.com/etf
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock ETFs. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
JHAN-20180615-0136 ETF2A 4/2023
6/2023

ITEM 2. CODE OF ETHICS.

As of the end of the period, April 30, 2023, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.

Frances G. Rathke is the audit committee financial expert and is "independent", pursuant to general instructions on Form N-CSR Item 3.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.

(a) AUDIT FEES:

These fees represent aggregate fees billed for the last two fiscal years (the "Reporting Periods") for professional services rendered by the principal accountant for the audits of the Registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filing or engagements for such Reporting Periods.

2023: $259,490

2022: $358,678

(b) AUDIT RELATED FEES:

These fees represent the aggregate fees billed for the Reporting Periods for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the Registrant's financial statements and are not reported under paragraph (a) of this Item. The nature of the services provided was related to a software licensing fee and internal control reviews.

2023: $95

2022: $3,613

(c) TAX FEES:

These fees represent aggregate fees billed for the Reporting Periods for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements.

2023: $26,132

2022: $35,766

(d) ALL OTHER FEES:

These fees represent other fees for John Hancock Exchange-Traded Fund Trust billed to the registrant or to control affiliates. The nature of the services comprising all other fees is advisory services provided to the investment manager.

2023: $966

2022: $5,293

 

(e)(1) Audit Committee Pre-Approval Policies and Procedures:

The Trust's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.

The Trust's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre- approval by the Audit Committee.

All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.

(e)(2) Amount approved by the Audit Committee pursuant paragraph (c) (7) (i) (C) of Rule 2-01 of Regulation S-X: None.

(f)According to the registrant's principal accountant, for the fiscal period ended April 30, 2023, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.

(g)The aggregate non-audit fees billed by PwC for services rendered to the registrant and rendered to the registrant's control affiliates for each of the last two fiscal years of the registrant were $1,425,826 for the fiscal year ended April 30, 2023 and $1,174,814 for the fiscal year ended April 30, 2022.

(h)The Registrant's audit committee of the Board of Trustees has considered the provision of non-audit services that were rendered to the Registrant's investment adviser and service affiliates that were not pre-approved pursuant to paragraph (c) (7ii) of Rule 2-01 of Regulation S-X, to be compatible with maintaining PwC's independence.

(i)Not Applicable

(j)Not Applicable

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS

Frances G. Rathke – Chairperson

Peter S. Burgess - retired as of December 31, 2022

William H. Cunningham

Patricia Lizarraga, effective September 20,2022

ITEM 6. SCHEDULE OF INVESTMENTS.

(a)Included with Item 1.

(b)Not Applicable.

 

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not Applicable.

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not Applicable.

ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASERS.

Not Applicable.

ITEM 10. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS.

The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form N-CSR. See attached "John Hancock Funds – Nominating, Governance and Administration Committee Charter".

ITEM 11. CONTROLS AND PROCEDURES.

(a)Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within

90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.

(b)There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Not applicable.

ITEM 13. EXHIBITS.

(a)(1) Code of Ethics for Covered Officers is attached.

(a)(2) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.

(b)Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certifications are not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.

 

(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached "John Hancock Funds – Nominating and Governance Committee Charter".

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

John Hancock Exchange-Traded Fund Trust

/s/ Andrew Arnott

_______________________

Andrew Arnott

President

Date: June 5, 2023

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

/s/ Andrew Arnott

_______________________

Andrew Arnott

President

Date: June 5, 2023

/s/ Charles A. Rizzo

_______________________

Charles A. Rizzo

Chief Financial Officer

Date: June 5, 2023


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘N-CSR’ Filing    Date    Other Filings
12/31/24
8/31/24
7/31/24
8/31/23
6/30/23
Filed on / Effective on:6/15/23
6/5/23
5/1/23497
For Period end:4/30/23
12/31/22
12/20/22497K
11/1/22
10/3/22
9/27/22497J,  497K
9/9/22DEF 14A,  PRE 14A
9/1/22485BPOS,  497J,  497K
6/30/22497,  N-PX
4/30/22N-CEN,  N-CSR,  NPORT-P
1/1/22
12/31/21
12/14/21497J,  497K,  CERT
8/18/21497K,  N-PX
4/30/21N-CEN,  N-CSR,  NPORT-P
3/30/21485APOS,  497J,  497K,  NPORT-P
6/19/20
3/12/20
 List all Filings 

12 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/03/23  John Hancock ETF Trust            497        10/03/23    1:2.3M                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:121K                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:75K                                    Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:111K                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:107K                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:120K                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:75K                                    Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:117K                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:116K                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:124K                                   Donnelley … Solutions/FA
 9/01/23  John Hancock ETF Trust            497K        9/01/23    1:108K                                   Donnelley … Solutions/FA
 8/24/23  John Hancock ETF Trust            485BPOS     9/01/23   26:26M                                    Donnelley … Solutions/FA
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