Fund Description: PIMCO Enhanced Short Maturity Active ESG ETF is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the Pimco ETF Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The PIMCO Enhanced Short Maturity Active ESG ETF seeks maximum current income, consistent with preservation of capital and daily liquidity. The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Rather, the Adviser has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective. FUND STRATEGY: The Fund seeks to achieve its investment objective by investing under normal circumstances at least 80% of its net assets in a diversified portfolio of Fixed Income Instruments of varying maturities, which may be represented by forwards. Fixed Income Instruments include bonds, debt securities and other similar instruments issued by various U.S. and non-U.S. public- or private-sector entities. The average portfolio duration of this Fund will vary based on PIMCO's market forecasts and will normally not exceed one year. The Fund may avoid investment in the securities of issuers whose business practices with respect to the environment, social responsibility, and governance (ESG practices}. The Fund primarily invests in U.S. dollar-denominated investment grade debt securities. The Fund may invest, without limitation, in U.S. dollar-denominated securities and instruments of foreign issuers. The Fund may invest up to 10% of its total assets in securities denominated in foreign currencies. The Fund may invest in mortgage or asset-backed securities, including to-be-announced transactions. The Fund may purchase and sell securities on a when-issued, delayed delivery or forward commitment basis. FUND MANAGEMENT: PIMCO serves as the investment adviser for the Fund.