Entity Investment Company Type

Document Type

N-CSR

Amendment Flag

false

Registrant Name

AMERICAN CENTURY ETF TRUST

Entity Central Index Key

0001710607

N-1A

Document Period End Date

Aug. 31, 2025

Annual Shareholder Report

C000250325 [Member]

American Century California Municipal Bond ETF

American Century California Municipal Bond ETF

CATF

NYSEArca

This annual shareholder report contains important information about American Century California Municipal Bond ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century California Municipal Bond ETF	$27	0.27%

$ 27

0.27%


What were the key factors that affected the fund’s performance?
American Century California Municipal Bond ETF returned (0.41)% for the reporting period ended August 31, 2025.
The fund seeks high current income that is exempt from federal and California income taxes. The commentary below refers to the fund’s performance compared to the S&P California AMT-Free Municipal Bond Index.
•			Against a backdrop of heavy municipal bond (muni) supply, tax policy and municipal exemption uncertainty and broader rate market volatility, most muni returns were slightly negative for the period. However, California munis generally outperformed national municipal bonds.
•			Sector allocation was the primary detractor from performance, largely due to an underweight position versus the index in state general obligation (GO) bonds and an overweight position in development district bonds. Our position in cash equivalents and an out-of-index stake in gas prepaid bonds helped offset some of the negative allocation effects.
•			Our yield curve strategy detracted, but positive roll-down effects helped offset some of the negative results from curve positioning and duration.
•			Security selection broadly aided performance, with our choices in the development district, local GO and charter schools sectors driving results. Security selection in the public university and state GO sectors weighed on performance.


Cumulative Performance (based on an initial $10,000 investment)
July 16, 2024 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century California Municipal Bond ETF	-0.41%	0.50%	7/16/24

Regulatory Index
S&P National AMT-Free Municipal Bond	-0.20%	0.56%	—

Performance Index
S&P California AMT-Free Municipal Bond	-0.02%	0.80%	—

Jul. 16, 2024

Updated Performance Information Location [Text Block]

The opinions expressed are those of American Century Investments and are no guarantee of the future performance of any American Century Investments fund. This information is for educational purposes only and is not intended as investment advice. Data reflects past performance, assumes reinvestment of dividends and capital gains and is no guarantee of future results. Current performance may be higher or lower than data shown. Investment return and principal value will fluctuate and redemption value may be more or less than original cost, and none of the charts reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.

Visit americancentury.com for more recent performance information.

$ 51,096,042

201

$ 90,961

47.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Municipal Securities			97.9%
			Short-Term Investments			2.1%
			Other Assets and Liabilities			0.0%

C000197601 [Member]

American Century Diversified Corporate Bond ETF

American Century Diversified Corporate Bond ETF

KORP

NYSEArca

This annual shareholder report contains important information about American Century Diversified Corporate Bond ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Diversified Corporate Bond ETF	$30	0.29%

$ 30

0.29%


What were the key factors that affected the fund’s performance?
American Century Diversified Corporate Bond ETF returned 4.19% for the reporting period ended August 31, 2025.
The fund seeks to provide current income. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. Intermediate Corporate Bond Index.
•			The Federal Reserve cut interest rates by 1 percentage point in late 2024. Policymakers held steady during the rest of the period as economic data remained resilient, tariff policy stayed uncertain, and inflation edged higher. Overall, yields on short-maturity Treasuries declined, while yields on longer-maturity Treasuries rose. Meanwhile, credit spreads generally tightened, and U.S. corporate bonds generally outperformed Treasuries.
•			Our duration strategy detracted from performance due to relative positioning in late 2024. Interest rates rose, and the fund’s longer-than-index duration weighed on results.
•			Security selection was a key contributor to performance. Our choices among financial institutions and in the technology, media and telecommunications and industrials sectors largely drove results.
•			Sector allocation also broadly contributed to performance. An out-of-index position in high-yield corporate bonds, which outperformed investment-grade corporates for the period, was the main contributor. This allocation more than offset the negative effects from an out-of-index stake in government bonds.


Cumulative Performance (based on an initial $10,000 investment)
January 11, 2018 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century Diversified Corporate Bond ETF	4.19%	1.59%	2.76%	1/11/18

Regulatory Index
Bloomberg U.S. Aggregate Bond	3.14%	-0.68%	1.59%	—

Performance Index
Bloomberg U.S. Corporate Bond	3.91%	-0.01%	2.40%	—



Bloomberg U.S. Intermediate Corporate Bond	5.68%	1.51%	3.03%	—

Jan. 11, 2018

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 566,029,052

310

$ 1,228,503

176.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			85.4%
			Convertible Preferred Securities			5.2%
			Preferred Securities			3.9%
			U.S. Treasury Securities			0.5%
			Short-Term Investments			6.3%
			Other Assets and Liabilities			(1.3)%

C000204482 [Member]

American Century Diversified Municipal Bond ETF

American Century Diversified Municipal Bond ETF

TAXF

NYSEArca

This annual shareholder report contains important information about American Century Diversified Municipal Bond ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Diversified Municipal Bond ETF	$29	0.29%

$ 29

0.29%


What were the key factors that affected the fund’s performance?
American Century Diversified Municipal Bond ETF returned (0.14)% for the reporting period ended August 31, 2025.
The fund seeks current income that is exempt from federal income tax. The commentary below refers to the fund’s performance compared to the S&P National AMT-Free Municipal Bond Index.
•			Against a backdrop of heavy municipal bond (muni) supply, tax policy and municipal exemption uncertainty and broader rate market volatility, most muni returns were slightly negative. High-yield munis generally underperformed, which weighed on the fund’s out-of-index allocation to the sector.
•			Security selection was a key contributor to fund performance, largely due to our choices in the local general obligation (GO) and private university sectors. These results more than offset the negative effects from our selections in the tax increment and toll facilities sectors.
•			Our yield curve strategy contributed to performance, primarily due to roll-down effects and duration positioning.
•			Overall, sector allocation modestly contributed to performance. Out-of-index position in the gas prepaid and multifamily housing sectors and an underweight versus the index in the special tax sector were top contributors. An underweight to state GO bonds and overweight positions in charter schools and student housing detracted from results.


Cumulative Performance (based on an initial $10,000 investment)
September 10, 2018 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century Diversified Municipal Bond ETF	-0.14%	0.84%	2.29%	9/10/18


S&P National AMT-Free Municipal Bond	-0.20%	0.40%	1.95%	—

Sep. 10, 2018

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 488,134,009

673

$ 1,451,353

36.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Municipal Securities			99.9%
			Short-Term Investments			0.5%
			Other Assets and Liabilities			(0.4)%

C000204442 [Member]

American Century Focused Dynamic Growth ETF

American Century Focused Dynamic Growth ETF

FDG

NYSEArca

This annual shareholder report contains important information about American Century Focused Dynamic Growth ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Focused Dynamic Growth ETF	$52	0.45%

$ 52

0.45%


What were the key factors that affected the fund’s performance?
American Century Focused Dynamic Growth ETF returned 29.62% for the reporting period ended August 31, 2025.
The fund seeks long-term capital growth. The commentary below refers to the fund’s performance compared to the Russell 1000 Growth Index.
•			The industrials sector contributed most to relative performance as a result of stock selection in the aerospace and defense industry. The last several years have seen an explosion in the number of space launches, reflecting surging demand for communication, defense and other space-based applications. The number one contributor to performance was launch services provider Rocket Lab.
•			In a period of such strong performance, many sectors made meaningful contributions to relative results. In the communication services sector, positioning among interactive media and services stocks helped most. In the health care sector, an underweight to pharmaceuticals companies and stock choices among biotechnology stocks were beneficial.
•			Stock selection detracted from performance in the energy sector. It hurt relative results to have an overweight to energy equipment and services stock Cactus.
•			Positioning in the financials and consumer discretionary sectors also detracted modestly from relative results. Stock choices in the financial services and hotels, restaurants and leisure industries, respectively, hurt performance in those sectors.


Cumulative Performance (based on an initial $10,000 investment)
March 31, 2020 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century Focused Dynamic Growth ETF	29.62%	11.15%	21.61%	3/31/20

Regulatory Index
Russell 1000	16.24%	14.34%	20.17%	—

Performance Index
Russell 1000 Growth	22.58%	15.25%	23.14%	—

Mar. 31, 2020

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 345,741,778

$ 1,259,749

40.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.1%		Semiconductors and Semiconductor Equipment	21%
Short-Term Investments	1.0%		Software	14%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	11%
			Broadline Retail	10%
			Biotechnology	10%

C000204443 [Member]

American Century Focused Large Cap Value ETF

American Century Focused Large Cap Value ETF

FLV

NYSEArca

This annual shareholder report contains important information about American Century Focused Large Cap Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Focused Large Cap Value ETF	$44	0.42%

$ 44

0.42%


What were the key factors that affected the fund’s performance?
American Century Focused Large Cap Value ETF returned 9.19% for the reporting period ended August 31, 2025.
The fund seeks long-term capital growth. The commentary below refers to the fund’s performance compared to the Russell 1000 Value Index.
•			Security selection in the information technology sector aided relative performance. While the fund is broadly underweight to the sector, certain overweight positions contributed to results. A holding in F5 helped performance as the technology company has benefited from strong enterprise spending and its ability to digest inventory from early in the period.
•			Choices of investments in the utilities sector proved fortuitous. The fund’s allocation to the gas utilities industry helped relative performance, owing in part to an overweight position in Atmos Energy, which benefited from macroeconomic conditions. An overweight position in Duke Energy, an electric utility, was also additive.
•			Stock picks in the consumer staples sector slowed relative results. An overweight position in the food products industry detracted as inflation, commodity prices and an uncertain regulatory outlook pressured certain companies. A lack of exposure to the tobacco industry also hurt as certain products are gaining popularity.
•			Security selection in the energy sector hampered performance. Low commodity prices challenged stocks in the oil, gas and consumable fuels industry, where the fund has certain overweight positions that detracted from results.


Cumulative Performance (based on an initial $10,000 investment)
March 31, 2020 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century Focused Large Cap Value ETF	9.19%	12.16%	15.42%	3/31/20

Regulatory Index
Russell 1000	16.24%	14.34%	20.17%	—

Performance Index
Russell 1000 Value	9.33%	12.97%	16.41%	—

Mar. 31, 2020

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 269,975,585

$ 1,016,778

56.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	98.5%		Personal Care Products	9%
Short-Term Investments	1.5%		Banks	8%
Other Assets and Liabilities	0.0%		Health Care Equipment and Supplies	8%
			Oil, Gas and Consumable Fuels	7%
			Capital Markets	7%

C000218646 [Member]

American Century Large Cap Equity ETF

American Century Large Cap Equity ETF

ACLC

NYSEArca

This annual shareholder report contains important information about American Century Large Cap Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Large Cap Equity ETF	$41	0.39%

$ 41

0.39%


What were the key factors that affected the fund’s performance?
American Century Large Cap Equity ETF returned 9.45% for the reporting period ended August 31, 2025.
The fund seeks long-term capital growth. The commentary below refers to the fund’s performance compared to the S&P 500 Index.
•			The 12-month period saw stocks rise to record highs despite significant volatility related to uncertainty about trade, tariffs, the economy, inflation and interest rates. A number of the best-performing stocks were those related to artificial intelligence. In this environment, higher-quality, large-cap growth-oriented stocks performed well.
•			The leading contributors to relative returns came from a wide range of sectors and industries. The largest individual contributor was Johnson Controls International, whose products help businesses such as data centers solve their cooling and energy efficiency needs. Another key contributor was investment bank Morgan Stanley, which benefited from strong financial market performance.
•			Stock choices in the health care sector detracted most from relative returns. Within the sector, our stock choices among select health care providers and services and pharmaceuticals stocks hurt most. Elsewhere, positioning in the consumer discretionary and information technology sectors also meaningfully detracted.


Cumulative Performance (based on an initial $10,000 investment)
July 13, 2020 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century Large Cap Equity ETF	9.45%	12.30%	14.36%	7/13/20


S&P 500	15.88%	14.74%	16.71%	—

Jul. 13, 2020

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 242,752,142

101

$ 876,434

29.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.4%		Semiconductors and Semiconductor Equipment	13%
Short-Term Investments	0.5%		Software	12%
Other Assets and Liabilities	0.1%		Interactive Media and Services	7%
			Capital Markets	5%
			Technology Hardware, Storage and Peripherals	4%

C000228612 [Member]

American Century Large Cap Growth ETF

American Century Large Cap Growth ETF

ACGR

NYSEArca

This annual shareholder report contains important information about American Century Large Cap Growth ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Large Cap Growth ETF	$42	0.39%

$ 42

0.39%


What were the key factors that affected the fund’s performance?
American Century Large Cap Growth ETF returned 15.69% for the reporting period ended August 31, 2025.
The fund seeks capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 1000 Growth Index.
•			Many of the leading individual contributions to relative performance came from avoiding poor-performing stocks in the health care sector. For example, it benefited relative results to have no exposure to a number of lagging pharmaceutical and medical device companies. In addition, it was helpful to hold overweight positions in select information technology stocks.
•			In sector terms, positioning in the consumer staples sector contributed most to relative returns. In a period when growth-oriented stocks performed best, these more traditionally defensive stocks lagged. As a result, it benefited relative performance to be underrepresented in these poor-performing shares.
•			Turning to relative detractors, stock choices in the information technology sector detracted most from performance. Our stock choices among select software, semiconductors and semiconductor equipment stocks hurt most, reflecting our relative weights in a number of perceived artificial intelligence beneficiaries.
•			Elsewhere, positioning in the consumer discretionary and financials sectors also detracted. In consumer discretionary, uncertainty around the economy, interest rates, tariffs and trade policy led us to underweight automobiles. Unfortunately, this positioning detracted. In financials, our allocation to the financial services industry hurt most.


Cumulative Performance (based on an initial $10,000 investment)
June 29, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century Large Cap Growth ETF	15.69%	11.57%	6/29/21

Regulatory Index
Russell 1000	16.24%	11.12%	—

Performance Index
Russell 1000 Growth	22.58%	13.41%	—

Jun. 29, 2021

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 19,413,056

$ 67,203

32.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.7%		Software	22%
Short-Term Investments	0.3%		Semiconductors and Semiconductor Equipment	21%
Other Assets and Liabilities	0.0%		Interactive Media and Services	9%
			Technology Hardware, Storage and Peripherals	8%
			Financial Services	6%

C000218645 [Member]

American Century Mid Cap Growth Impact ETF

American Century Mid Cap Growth Impact ETF

MID

NYSEArca

This annual shareholder report contains important information about American Century Mid Cap Growth Impact ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Mid Cap Growth Impact ETF	$48	0.45%

$ 48

0.45%


What were the key factors that affected the fund’s performance?
American Century Mid Cap Growth Impact ETF returned 13.21% for the reporting period ended August 31, 2025.
This fund seeks long-term capital growth. The commentary below refers to the fund’s performance compared to the Russell Midcap Growth Index.
•			An overweight position in the utilities sector contributed to relative results for the 12-month period. Specifically, independent power and renewable electricity producers benefited. Vistra, a Texas-based energy company, was a key holding as demand for power rose.
•			The ETF owned nothing in the real estate sector, and that helped relative results. Real estate investment trusts have traded at a discount as the industry contends with macroeconomic headwinds.
•			Technology stocks propelled the stock market’s performance over much of the 12-month period, so not owning certain outperforming stocks dampened performance. The fund does not own Palantir Technologies and AppLovin because neither has a positive impact as defined by the 16 United Nations Sustainable Development Goals. A lack of exposure to those companies detracted.
•			The consumer discretionary sector also detracted, largely due to stock selection. Chipotle Mexican Grill, a portfolio-only holding, was a key detractor in hotels, restaurants and leisure. The restaurant chain has faced higher costs for some ingredients. Distributors also hurt inside the sector.


Cumulative Performance (based on an initial $10,000 investment)
July 13, 2020 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century Mid Cap Growth Impact ETF	13.21%	9.49%	11.49%	7/13/20

Regulatory Index
Russell 3000	15.84%	14.11%	16.16%	—

Performance Index
Russell Midcap Growth	26.42%	11.01%	12.83%	—

Jul. 13, 2020

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 89,513,582

$ 356,675

44.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	97.8%		Software	13%
Short-Term Investments	2.2%		IT Services	6%
Other Assets and Liabilities	0.0%		Health Care Equipment and Supplies	6%
			Capital Markets	6%
			Biotechnology	5%

C000241171 [Member]

American Century Multisector Floating Income ETF

American Century Multisector Floating Income ETF

FUSI

NYSEArca

This annual shareholder report contains important information about American Century Multisector Floating Income ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Multisector Floating Income ETF	$28	0.27%

$ 28

0.27%


What were the key factors that affected the fund’s performance?
American Century Multisector Floating Income ETF returned 5.52% for the reporting period ended August 31, 2025.
The fund seeks income. As a secondary objective, the fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. 1-3 Month Treasury Bill Index.
•			The Federal Reserve cut interest rates by 1 percentage point in late 2024. Policymakers held steady during the rest of the period as economic data remained resilient, tariff policy stayed uncertain and inflation edged higher. Overall, yields on short-maturity Treasuries declined, while yields on longer-maturity Treasuries rose. Meanwhile, credit spreads generally tightened, and most U.S. bond sectors delivered gains for the 12-month period.
•			Credit-sensitive sectors generally outperformed government securities for the period, and our out-of-index allocation to securitized securities boosted relative performance.
•			Our allocation to the securitized credit sector was the top contributor. Non-agency commercial mortgage-backed securities, collateralized loan obligations, asset-backed securities and non-agency collateralized mortgage obligations drove results.
•			An underweight position versus the index in government securities modestly detracted from performance.


Cumulative Performance (based on an initial $10,000 investment)
March 14, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century Multisector Floating Income ETF	5.52%	6.52%	3/14/23

Regulatory Index
Bloomberg U.S. Aggregate Bond	3.14%	4.10%	—

Performance Index
Bloomberg U.S. 1-3 Month Treasury Bill	4.56%	5.05%	—

Mar. 14, 2023

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 50,729,333

108

$ 148,964

89.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Collateralized Loan Obligations			33.9%
			Commercial Mortgage-Backed Securities			17.3%
			Asset-Backed Securities			16.2%
			U.S. Treasury Securities			13.4%
			Collateralized Mortgage Obligations			13.1%
			Short-Term Investments			5.8%
			Other Assets and Liabilities			0.3%

C000228610 [Member]

American Century Multisector Income ETF

American Century Multisector Income ETF

MUSI

NYSEArca

This annual shareholder report contains important information about American Century Multisector Income ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Multisector Income ETF	$37	0.36%

$ 37

0.36%


What were the key factors that affected the fund’s performance?
American Century Multisector Income ETF returned 6.07% for the reporting period ended August 31, 2025.
The fund seeks to provide a high level of current income and total return. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. Aggregate Bond Index.
•			The Federal Reserve cut interest rates by 1 percentage point in late 2024. Policymakers held steady during the rest of the period as economic data remained resilient, tariff policy stayed uncertain and inflation edged higher. Overall, yields on short-maturity Treasuries declined, while yields on longer-maturity Treasuries rose. Meanwhile, credit spreads generally tightened, and credit-sensitive sectors generally outperformed Treasuries.
•			An out-of-index position in high-yield credit, which outperformed investment-grade credit, was a top contributor to performance. While our overweight versus the index in investment-grade credit had a nearly flat effect on relative results, security selection within the allocation contributed strongly.
•			Our overweight position in the securitized sector also contributed to performance. Our selections in credit-sensitive subsectors drove the sector’s results. Selections among agency-backed securitized securities also aided performance.
•			Our allocation to emerging markets debt and an underweight in U.S. government securities also contributed to performance, but security selection within both allocations detracted.


Cumulative Performance (based on an initial $10,000 investment)
June 29, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century Multisector Income ETF	6.07%	1.96%	6/29/21


Bloomberg U.S. Aggregate Bond	3.14%	-0.55%	—

Jun. 29, 2021

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 175,025,541

329

$ 640,320

163.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			43.3%
			Asset-Backed Securities			11.2%
			Convertible Preferred Securities			9.5%
			Collateralized Mortgage Obligations			8.0%
			U.S. Government Agency Mortgage-Backed Securities			5.4%
			Preferred Securities			5.0%
			U.S. Treasury Securities			3.9%
			Exchange-Traded Funds			2.9%
			Commercial Mortgage-Backed Securities			2.3%
			Collateralized Loan Obligations			1.8%
			Sovereign Governments and Agencies			1.0%
			Bank Loan Obligations			0.6%
			Municipal Securities			0.4%
			Short-Term Investments			8.3%
			Other Assets and Liabilities			(3.6)%

C000222948 [Member]

American Century Quality Convertible Securities ETF

American Century Quality Convertible Securities ETF

QCON

CboeBZX

This annual shareholder report contains important information about American Century Quality Convertible Securities ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

Material Fund Change Notice [Text Block]

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

This report describes changes to the fund that occurred during the reporting period.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Quality Convertible Securities ETF	$34	0.32%

$ 34

0.32%


What were the key factors that affected the fund’s performance?
American Century Quality Convertible Securities ETF returned 12.57% for the reporting period ended August 31, 2025.
This fund seeks total return. The commentary below refers to the fund’s performance compared to the ICE BofA Convertible Index.
•			The strategy uses a systematic portfolio construction approach that focuses on higher-quality issuers and greater diversification relative to its benchmark.
•			The fund underperformed the benchmark for the 12-month period.
•			A focus on higher-quality issuers detracted from relative performance throughout the year.
•			Allocation to portfolio cash detracted from relative performance.


Cumulative Performance (based on an initial $10,000 investment)
February 16, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century Quality Convertible Securities ETF	12.57%	1.78%	2/16/21

Regulatory Index
Russell 3000	15.84%	11.64%	—

Performance Index
ICE BofA Convertible	17.41%	2.00%	—

The regulatory index is provided as a broad measure of market performance. The performance index is provided because the advisor believes it is more reflective of the fund’s investment strategy.

Feb. 16, 2021

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 24,255,658

$ 146,920

48.00%

Material Fund Change [Text Block]


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Short-Term Investments			99.7%
			Other Assets and Liabilities			0.3%


Fund Changes






American Century Quality Convertible Securities ETF was liquidated on September 15, 2025.

C000202058 [Member]

American Century Quality Diversified International ETF

American Century Quality Diversified International ETF

QINT

NYSEArca

This annual shareholder report contains important information about American Century Quality Diversified International ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Quality Diversified International ETF	$44	0.40%

$ 44

0.40%


What were the key factors that affected the fund’s performance?
American Century Quality Diversified International ETF returned 19.36% for the reporting period ended August 31, 2025.
The fund seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the index. The commentary below refers to the fund’s performance compared to the MSCI World ex USA Index.
•			Materials was the top contributor to the fund’s performance due to an overweight position and stock selection. The metals and mining industry was a particular help. Higher gold prices have benefited the sector.
•			Financials also contributed to results, primarily because of stock selection. More specifically, stock selection in banks was beneficial. While the fund was underweight in banks overall, it held overweight positions in firms like Banco Bilbao Vizcaya Argentaria. The potential for more bank mergers could help the sector.
•			Communication services was the fund’s primary detractor, primarily due to stock selection. Results were hurt by the diversified telecommunication services industry; stock selection and an underweight position dragged on performance. Canadian telecommunications company BCE was a notable detractor. Increased competition could impact companies in the sector.
•			Energy also detracted during the second quarter because of an underweight position and allocation. The fund was underweight oil, gas and consumable fuels. Lower oil prices and concerns about oversupply are pressuring the sector.


Cumulative Performance (based on an initial $10,000 investment)
September 10, 2018 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century Quality Diversified International ETF	19.36%	9.99%	8.76%	9/10/18


MSCI World ex USA	14.88%	10.50%	8.24%	—


American Century Quality Diversified International Equity	20.30%	N/A	N/A	—

Sep. 10, 2018

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 400,346,188

364

$ 1,088,699

71.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Japan	19%
Warrants	0.0%		United Kingdom	13%
Short-Term Investments	1.2%		Canada	10%
Other Assets and Liabilities	(0.6)%		Germany	9%
			France	8%

C000222949 [Member]

American Century Quality Preferred ETF

American Century Quality Preferred ETF

QPFF

CboeBZX

This annual shareholder report contains important information about American Century Quality Preferred ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

Material Fund Change Notice [Text Block]

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

This report describes changes to the fund that occurred during the reporting period.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Quality Preferred ETF	$33	0.32%

$ 33

0.32%


What were the key factors that affected the fund’s performance?
American Century Quality Preferred ETF returned 3.24% for the reporting period ended August 31, 2025.
The fund seeks current income and capital appreciation. The commentary below refers to the fund’s performance compared to the ICE Exchange-Listed Preferred & Hybrid Securities Index.
•			The strategy uses a systematic portfolio construction approach that focuses on higher-quality issuers and greater diversification relative to its benchmark.
•			The fund underperformed the benchmark for the 12-month period.
•			A focus on higher-quality issuers detracted from relative performance throughout the year.
•			Allocation to portfolio cash detracted from relative performance.


Cumulative Performance (based on an initial $10,000 investment)
February 16, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century Quality Preferred ETF	3.24%	3.27%	2/16/21

Regulatory Index
Russell 3000	15.84%	11.64%	—

Performance Index
ICE Exchange-Listed Preferred & Hybrid Securities	4.23%	2.23%	—

Feb. 16, 2021

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 40,107,245

$ 239,585

69.00%

Material Fund Change [Text Block]


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Short-Term Investments			99.5%
			Other Assets and Liabilities			0.5%


Fund Changes






American Century Quality Preferred ETF was liquidated on September 15, 2025.

C000231722 [Member]

American Century Select High Yield ETF

American Century Select High Yield ETF

AHYB

NYSEArca

This annual shareholder report contains important information about American Century Select High Yield ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Select High Yield ETF	$47	0.45%

$ 47

0.45%


What were the key factors that affected the fund’s performance?
American Century Select High Yield ETF returned 7.02% for the reporting period ended August 31, 2025.
The fund seeks to provide high current income. The commentary below refers to the fund’s performance compared to the ICE BofA U.S. High Yield Constrained (BB-B) Index.
•			Shifting Federal Reserve policy expectations, combined with moderating inflation and tariff-related uncertainties, drove Treasury market volatility during the period. Treasury yields trended lower as investors positioned for rate cuts, while high-yield spreads broadly held firm despite bouts of market stress. Resilient corporate earnings, steady technical demand and selective new issuance supported high-yield market conditions.
•			The fund’s exposure to the gaming sector detracted from results, largely due to a position in Bally’s. The company faced pressure amid uncertainty around a major development project. In addition, the company’s announcement that it would acquire a majority stake in distressed Australian casino operator Star Entertainment Group further pressured the bonds.
•			Our position in Level 3 Communications, a U.S-based telecommunications provider, supported results. The company’s unsecured bonds rallied following strong earnings and a financing agreement that bolstered liquidity.
•			Positioning in the energy sector contributed to results, aided by our holding in offshore driller Shelf Drilling. The company advanced as oil prices stabilized and new contract activity bolstered operating momentum.


Cumulative Performance (based on an initial $10,000 investment)
November 16, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century Select High Yield ETF	7.02%	3.61%	11/16/21

Regulatory Index
Bloomberg U.S. Aggregate Bond	3.14%	-0.50%	—

Performance Index
ICE BofA U.S. High Yield Constrained (BB-B)	7.21%	3.78%	—

Nov. 16, 2021

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 46,711,523

542

$ 160,417

39.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			96.1%
			Short-Term Investments			5.6%
			Other Assets and Liabilities			(1.7)%

C000237948 [Member]

American Century Short Duration Strategic Income ETF

American Century Short Duration Strategic Income ETF

SDSI

NASDAQ

This annual shareholder report contains important information about American Century Short Duration Strategic Income ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century Short Duration Strategic Income ETF	$33	0.32%

$ 33

0.32%


What were the key factors that affected the fund’s performance?
American Century Short Duration Strategic Income ETF returned 5.62% for the reporting period ended August 31, 2025.
The fund seeks income. As a secondary objective, the fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. 1-3 Year Government/Credit Bond Index.
•			The Federal Reserve cut interest rates by 1 percentage point in late 2024. Policymakers held steady during the rest of the period as economic data remained resilient, tariff policy stayed uncertain and inflation edged higher. Overall, yields on short-maturity Treasuries declined, while yields on longer-maturity Treasuries rose. Meanwhile, credit spreads generally tightened, and credit-sensitive sectors generally outperformed Treasuries.
•			An out-of-index position in the securitized sector was a main driver of performance. Allocations to credit-sensitive subsectors, including non-agency collateralized mortgage obligations, non-agency commercial mortgage-backed securities and asset-backed securities, drove results.
•			An out-of-index stake in high-yield credit, which broadly outperformed investment-grade credit, also contributed strongly to performance. An overweight position versus the index in investment-grade credit modestly contributed, while security selection within the allocation was a top contributor.
•			Our allocation to emerging markets debt also contributed to performance, while security selection among government securities detracted.


Cumulative Performance (based on an initial $10,000 investment)
October 11, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
American Century Short Duration Strategic Income ETF	5.62%	6.43%	10/11/22

Regulatory Index
Bloomberg U.S. Aggregate Bond	3.14%	4.96%	—

Performance Index
Bloomberg U.S. 1-3 Year Government/Credit Bond	4.64%	4.77%	—

Oct. 11, 2022

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 85,166,565

356

$ 235,378

188.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			44.7%
			Collateralized Mortgage Obligations			18.5%
			Asset-Backed Securities			9.2%
			U.S. Treasury Securities			8.5%
			Convertible Preferred Securities			7.2%
			Commercial Mortgage-Backed Securities			4.4%
			Preferred Securities			4.0%
			Collateralized Loan Obligations			1.2%
			Bank Loan Obligations			0.3%
			Municipal Securities			0.2%
			Sovereign Governments and Agencies			0.2%
			Short-Term Investments			2.0%
			Other Assets and Liabilities			(0.4)%

C000202059 [Member]

American Century U.S. Quality Growth ETF

American Century U.S. Quality Growth ETF

QGRO

NYSEArca

This annual shareholder report contains important information about American Century U.S. Quality Growth ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century U.S. Quality Growth ETF	$33	0.29%

$ 33

0.29%


What were the key factors that affected the fund’s performance?
American Century U.S. Quality Growth ETF returned 24.61% for the reporting period ended August 31, 2025.
The fund seeks to provide investment results that closely correspond, before fees and expenses, to the performance of the index. The commentary below refers to the fund’s performance compared to the Russell 1000 Growth Index.
•			The 12-month period saw stocks rise to record highs despite significant volatility related to uncertainty about trade, tariffs, the economy, inflation and interest rates. Some of the best-performing stocks were those related to artificial intelligence (AI). These conditions favored higher-quality, large-cap growth-oriented stocks such as those in which the fund invests.
•			Industrials stocks contributed the most to performance. It helped to be overweight in aerospace and defense and electrical equipment companies. These shares benefited from two powerful trends. One was an increase in defense spending and the other surging outlays for data centers and energy infrastructure to support the build-out of AI.
•			Positioning in the consumer discretionary sector detracted most from relative performance, led by an underweight allocation to electric vehicle maker Tesla. Looking at notable individual detractors, underweight allocations to semicondcutor chip manufacturers NVIDIA and Broadcom also hurt relative results. These stocks all benefited from investor enthusiasm for AI-related stocks.
•			Elsewhere, positioning in the health care and utilities sectors also hurt relative results. Our positioning among biotechnology and independent power and renewable electricity producers, respectively, detracted most.


Cumulative Performance (based on an initial $10,000 investment)
September 10, 2018 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century U.S. Quality Growth ETF	24.61%	14.99%	16.04%	9/10/18

Regulatory Index
Russell 1000	16.24%	14.34%	13.86%	—

Performance Index
Russell 1000 Growth	22.58%	15.25%	17.61%	—
American Century U.S. Quality Growth	25.01%	N/A	N/A	—

Sep. 10, 2018

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 1,901,033,518

189

$ 3,748,991

165.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.7%		Software	20%
Rights	0.0%		Semiconductors and Semiconductor Equipment	8%
Short-Term Investments	0.4%		Interactive Media and Services	7%
Other Assets and Liabilities	(0.1)%		Entertainment	5%
			Biotechnology	5%

C000197602 [Member]

American Century U.S. Quality Value ETF

American Century U.S. Quality Value ETF

VALQ

NYSEArca

This annual shareholder report contains important information about American Century U.S. Quality Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at americancentury.com/docs. You can also request this information by contacting us at 1-800-345-2021.

1-800-345-2021

americancentury.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
American Century U.S. Quality Value ETF	$30	0.29%

$ 30

0.29%


What were the key factors that affected the fund’s performance?
American Century U.S. Quality Value ETF returned 6.94% for the reporting period ended August 31, 2025.
The fund seeks to provide investment results that correspond, before fees and expenses, to the performance of the index. The commentary below refers to the fund’s performance compared to the Russell 1000 Value Index.
•			The fund’s choices of investments in the health care sector aided relative performance. The fund is underweight in health care, which proved fortuitous in several instances because regulatory uncertainty, mispricing and unstable health care exchanges created a challenging environment for the industry.
•			Security selection in the consumer discretionary sector buoyed the fund’s results. Holdings in several industries within the sector, particularly overweight positions in the broadline retail industry, lifted the fund’s performance. Another overweight position in Tapestry, the parent company of several luxury brands, aided performance.
•			Allocation among names in the financials sector detracted from performance. The fund is underweight in the banking industry, and a lack of exposure to several large banks weighed on results. An underweight in the capital markets industry also hurt performance.
•			Stock picks in the consumer staples sector weighed on performance. Within the sector, the fund’s overweight allocation to the household products industry weighed on results. Elsewhere, an underweight allocation to the tobacco industry hurt.


Cumulative Performance (based on an initial $10,000 investment)
January 11, 2018 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
American Century U.S. Quality Value ETF	6.94%	12.77%	8.46%	1/11/18

Regulatory Index
Russell 1000	16.24%	14.34%	13.37%	—

Performance Index
Russell 1000 Value	9.33%	12.97%	8.65%	—
American Century U.S. Quality Value	7.28%	N/A	N/A	—

Jan. 11, 2018

Updated Performance Information Location [Text Block]

Visit americancentury.com for more recent performance information.

$ 254,305,700

233

$ 705,727

147.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.7%		IT Services	9%
Short-Term Investments	0.6%		Household Products	8%
Other Assets and Liabilities	(0.3)%		Pharmaceuticals	7%
			Specialty Retail	6%
			Oil, Gas and Consumable Fuels	6%

C000237947 [Member]

Avantis All Equity Markets ETF

Avantis All Equity Markets ETF

AVGE

NYSEArca

This annual shareholder report contains important information about Avantis All Equity Markets ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis All Equity Markets ETF	$3	0.03%

$ 3

0.03%


What were the key factors that affected the fund’s performance?
Avantis All Equity Markets ETF returned 14.64% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI ACWI IMI.
•			Global stocks rallied for the 12-month period, which was characterized by mixed economic growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Large-cap stocks generally fared better than small caps, and growth broadly outpaced value.
•			Allocations by market capitalizations broadly detracted from relative performance. An overweight position versus the index in smaller-cap stocks, which underperformed, and an underweight in mega caps, which outperformed, were key detractors.
•			Allocations to combined profitability and book-to-market quartiles modestly contributed, led by the fund’s overweight in companies with the highest combined characteristics, which outperformed.
•			Country weightings aided performance, largely due to an overweight position in the U.S. and an underweight in Denmark.


Cumulative Performance (based on an initial $10,000 investment)
September 27, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis All Equity Markets ETF	14.64%	20.41%	9/27/22


MSCI ACWI IMI	15.50%	21.30%	—

Sep. 27, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 596,612,318

$ 146,435

0.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)
	Domestic Equity Funds	70.1%
	International Equity Funds	29.8%
	Short-Term Investments	0.1%
	Other Assets and Liabilities	0.0%

C000243037 [Member]

Avantis All Equity Markets Value ETF

Avantis All Equity Markets Value ETF

AVGV

NYSEArca

This annual shareholder report contains important information about Avantis All Equity Markets Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis All Equity Markets Value ETF	$3	0.03%

$ 3

0.03%


What were the key factors that affected the fund’s performance?
Avantis All Equity Markets Value ETF returned 14.89% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI ACWI IMI Value.
•			Global stocks rallied for the 12-month period, which was characterized by mixed economic growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Large-cap stocks generally fared better than small caps, and growth broadly outpaced value.
•			The fund’s emphasis on companies with the highest combined profitability and book-to-market characteristics, which outperformed, aided performance. Additionally, an underweight position versus the index in companies with the lowest profitability and book-to-market traits, which underperformed, also boosted relative performance.
•			The fund’s sector weightings, byproducts of the fund’s focus on companies with attractive valuation metrics, also contributed to performance. Underweight positions to the underperforming health care and real estate sectors were key contributors.
•			The fund’s country allocations modestly lifted relative results, led by an underweight in the U.S. and an overweight in Japan.


Cumulative Performance (based on an initial $10,000 investment)
June 27, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis All Equity Markets Value ETF	14.89%	17.89%	6/27/23

Regulatory Index
MSCI ACWI IMI	15.50%	18.51%	—

Performance Index
MSCI ACWI IMI Value	12.05%	15.96%	—

Jun. 27, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 160,010,449

$ 38,624

0.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)
	Domestic Equity Funds	60.5%
	International Equity Funds	39.4%
	Short-Term Investments	0.8%
	Other Assets and Liabilities	(0.7)%

C000243040 [Member]

Avantis All International Markets Equity ETF

Avantis All International Markets Equity ETF

AVNM

NYSEArca

This annual shareholder report contains important information about Avantis All International Markets Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis All International Markets Equity ETF	$3	0.03%

$ 3

0.03%


What were the key factors that affected the fund’s performance?
Avantis All International Markets Equity ETF returned 20.71% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI ACWI ex USA IMI.
•			Non-U.S. stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and value broadly outpaced growth.
•			The fund’s emphasis on companies with the highest combined profitability and book-to-market characteristics, which outperformed, aided performance. Additionally, an underweight position versus the index in companies with the lowest profitability and book-to-market traits, which underperformed, also boosted relative performance.
•			The fund’s sector weightings, byproducts of the fund’s focus on companies with attractive valuation metrics, also contributed to performance. An underweight position in the underperforming health care sector and an overweight in the outperforming financials sector were key contributors.
•			Country weightings aided performance, largely due to underweighting Denmark, which underperformed, and excluding Saudi Arabia. Saudi Arabia is represented in the index and underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
June 27, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis All International Markets Equity ETF	20.71%	18.51%	6/27/23


MSCI ACWI ex USA IMI	15.65%	15.59%	—

Jun. 27, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 341,175,368

$ 46,550

0.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)
	International Equity Funds	99.9%
	Short-Term Investments	0.1%
	Other Assets and Liabilities	0.0%

C000243041 [Member]

Avantis All International Markets Value ETF

Avantis All International Markets Value ETF

AVNV

NYSEArca

This annual shareholder report contains important information about Avantis All International Markets Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis All International Markets Value ETF	$3	0.03%

$ 3

0.03%


What were the key factors that affected the fund’s performance?
Avantis All International Markets Value ETF returned 22.44% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI ACWI ex USA IMI Value.
•			Non-U.S. stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and value broadly outpaced growth.
•			Allocations to combined profitability and book-to-market quartiles modestly contributed overall. The fund’s underweight versus the index in companies with the lowest combined profitability and book-to-market characteristics, which underperformed, was the key contributor.
•			The fund’s exclusion of real estate investment trusts (REITs), which is a strategic rather than tactical decision, aided results. REITs underperformed for the period. From a broad perspective, sector weightings detracted from results, led by an underweight to the outperforming financials sector. Sector weightings are byproducts of the fund’s focus on valuation metrics.
•			Allocations by market capitalizations modestly detracted from relative performance. An overweight position in micro-cap stocks, which underperformed, was the main detractor.


Cumulative Performance (based on an initial $10,000 investment)
June 27, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis All International Markets Value ETF	22.44%	19.65%	6/27/23

Regulatory Index
MSCI ACWI ex USA IMI	15.65%	15.59%	—

Performance Index
MSCI ACWI ex USA IMI Value	19.56%	18.67%	—

Jun. 27, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 20,000,521

$ 3,867

0.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)
	International Equity Funds	99.9%
	Short-Term Investments	0.1%
	Other Assets and Liabilities	0.0%

C000221278 [Member]

Avantis Core Fixed Income ETF

Avantis Core Fixed Income ETF

AVIG

NYSEArca

This annual shareholder report contains important information about Avantis Core Fixed Income ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Core Fixed Income ETF	$15	0.15%

$ 15

0.15%


What were the key factors that affected the fund’s performance?
Avantis Core Fixed Income ETF returned 4.10% for the reporting period ended August 31, 2025.
The fund seeks to maximize total return. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. Aggregate Bond Index.
•			Treasury yields were higher for the period, but the effect on different tenors was mixed as the yield curve steepened meaningfully. Shorter-dated and intermediate maturities outperformed longer-dated securities, with 30-year Treasury yields rising approximately 80 basis points. The Federal Reserve cut interest rates by 1 percentage point early in the period. Meanwhile, credit spreads generally tightened, and most U.S. bond sectors delivered gains for the 12-month period.
•			Yield curve positioning and asset allocation were the primary drivers of fund performance. The fund maintained a duration position in line with the benchmark.
•			The fund’s overweight versus the benchmark to the corporate sector aided performance, as credit spreads tightened.
•			The fund’s positioning on the yield curve and exposure to bonds with higher carry and rolldown also contributed to performance.


Cumulative Performance (based on an initial $10,000 investment)
October 13, 2020 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Core Fixed Income ETF	4.10%	-0.57%	10/13/20


Bloomberg U.S. Aggregate Bond	3.14%	-0.69%	—

Oct. 13, 2020

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 1,214,517,622

699

$ 1,518,199

332.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			62.3%
			U.S. Treasury Securities			24.0%
			U.S. Government Agency Mortgage-Backed Securities			19.0%
			U.S. Government Agency Securities			1.9%
			Sovereign Governments and Agencies			0.2%
			Short-Term Investments			10.7%
			Other Assets and Liabilities			(18.1)%

C000221279 [Member]

Avantis Core Municipal Fixed Income ETF

Avantis Core Municipal Fixed Income ETF

AVMU

NYSEArca

This annual shareholder report contains important information about Avantis Core Municipal Fixed Income ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Core Municipal Fixed Income ETF	$15	0.15%

$ 15

0.15%


What were the key factors that affected the fund’s performance?
Avantis Core Municipal Fixed Income ETF returned (0.66)% for the reporting period ended August 31, 2025.
The fund seeks current income that is exempt from federal income tax. The commentary below refers to the fund’s performance compared to the S&P National AMT-Free Municipal Bond Index.
•			Against a backdrop of heavy municipal bond supply, post-election tax policy uncertainty and broad market volatility, municipal bonds posted a modestly negative return for the 12-month period. The municipal yield curve steepened further during the period. Securities with maturities of eight years and fewer meaningfully outperformed municipal bonds with final maturities greater than 10 years.
•			To maintain exposure to the bonds with the highest carry and roll-down, the fund held an overweight versus the benchmark to the 10- to 20-year maturity range. The fund held an underweight position among shorter-maturity municipal bonds and those with maturities more than 22 years. This yield curve positioning detracted from performance.
•			The fund generally maintained a duration in line with to slightly less than the benchmark’s duration.


Cumulative Performance (based on an initial $10,000 investment)
December 8, 2020 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Core Municipal Fixed Income ETF	-0.66%	-0.27%	12/8/20


S&P National AMT-Free Municipal Bond	-0.20%	0.14%	—

Dec. 08, 2020

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 147,330,076

506

$ 221,582

16.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Municipal Securities			98.5%
			Short-Term Investments			0.2%
			Other Assets and Liabilities			1.3%

C000247038 [Member]

Avantis Credit ETF

Avantis Credit ETF

AVGB

NASDAQ

This annual shareholder report contains important information about Avantis Credit ETF for the period of April 15, 2025 to August 31, 2025.

annual shareholder report

. You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment*	Costs paid as a percentage of a $10,000 investment
Avantis Credit ETF	$7	0.19%
*The costs of an investment would have been greater had the class been available for a full year.

$ 7

0.19%

$ 12,828,364

108

$ 7,619

2.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			94.9%
			Short-Term Investments			4.4%
			Other Assets and Liabilities			0.7%

C000214349 [Member]

Avantis Emerging Markets Equity ETF

Avantis Emerging Markets Equity ETF

AVEM

NYSEArca

This annual shareholder report contains important information about Avantis Emerging Markets Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Emerging Markets Equity ETF	$36	0.33%

$ 36

0.33%


What were the key factors that affected the fund’s performance?
Avantis Emerging Markets Equity ETF returned 19.19% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI Emerging Markets IMI.
•			Against a backdrop of slow global growth and solid corporate earnings results, emerging markets (EM) stocks rallied for the 12-month period and outperformed developed markets stocks. Within the EM universe, large-cap stocks outperformed small caps, and the growth style broadly outperformed value.
•			The fund has no exposure to China A shares, which are part of the benchmark and underperformed during the period.
•			The fund's underweight versus the benchmark to companies with the lowest profitability and book-to-market characteristics aided results.
•			The fund's allocations by market capitalizations detracted from results, largely due to an overweight to micro-cap stocks. Stocks in this capitalization category underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
September 17, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Avantis Emerging Markets Equity ETF	19.19%	9.26%	8.70%	9/17/19


MSCI Emerging Markets IMI	15.82%	5.96%	6.70%	—

Sep. 17, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 12,011,346,701

3,663

$ 27,564,200

0.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	100.1%		China	28%
Warrants	0.0%		Taiwan	21%
Rights	0.0%		India	18%
Short-Term Investments	1.2%		South Korea	12%
Other Assets and Liabilities	(1.3)%		Brazil	5%

C000247037 [Member]

Avantis Emerging Markets ex-China Equity ETF

Avantis Emerging Markets ex-China Equity ETF

AVXC

NASDAQ

This annual shareholder report contains important information about Avantis Emerging Markets ex-China Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Emerging Markets ex-China Equity ETF	$34	0.33%

$ 34

0.33%


What were the key factors that affected the fund’s performance?
Avantis Emerging Markets ex-China Equity ETF returned 7.33% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI Emerging Markets IMI.
•			Against a backdrop of slow global growth and solid corporate earnings results, emerging markets (EM) stocks rallied for the 12-month period and outperformed developed markets stocks. Within the EM universe, large-cap stocks outperformed small caps, and the growth style broadly outperformed value.
•			The fund’s allocations by market capitalizations weighed on relative performance. An overweight versus the index to micro-cap stocks, which underperformed, was the main detractor. Additionally, an underweight to mega-cap stocks also detracted, as these companies outperformed.
•			The fund’s country allocations weighed on relative performance, largely due to China, which sharply outperformed and is represented in the index but not the fund.
•			The fund’s emphasis on companies with the highest combined profitability and book-to-market characteristics, which underperformed, weighed on relative results. However, the fund’s underweight versus the index to companies with the lowest profitability and book-to-market characteristics, which underperformed, contributed and offset some of those negative effects.


Cumulative Performance (based on an initial $10,000 investment)
March 19, 2024 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Emerging Markets ex-China Equity ETF	7.33%	11.07%	3/19/24

Regulatory Index
MSCI Emerging Markets	16.80%	17.89%	—

Performance Index
MSCI Emerging Markets IMI	15.82%	17.21%	—

Mar. 19, 2024

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 159,905,613

2,580

$ 283,184

1.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.7%		Taiwan	27%
Warrants	0.0%		India	25%
Short-Term Investments	1.3%		South Korea	15%
Other Assets and Liabilities	(1.0)%		Brazil	8%
			South Africa	6%

C000246147 [Member]

Avantis Emerging Markets Small Cap Equity ETF

Avantis Emerging Markets Small Cap Equity ETF

AVEE

NYSEArca

This annual shareholder report contains important information about Avantis Emerging Markets Small Cap Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Emerging Markets Small Cap Equity ETF	$45	0.42%

$ 45

0.42%


What were the key factors that affected the fund’s performance?
Avantis Emerging Markets Small Cap Equity ETF returned 15.51% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI Emerging Markets Small Cap Index.
•			Against a backdrop of slow global growth and solid corporate earnings results, emerging markets (EM) stocks rallied for the 12-month period and outperformed developed markets stocks. Within the EM universe, large-cap stocks outperformed small caps, and the growth style broadly outperformed value.
•			The fund’s country allocations were key drivers of relative performance. An overweight versus the index in the outperforming China market was a key contributor. Underweighting India and excluding Saudi Arabia, both of which underperformed, also aided results.
•			The fund’s focus on underweighting companies with unattractive profitability and book-to-market characteristics aided relative performance. These companies underperformed for the 12-month period.
•			An overweight position in micro-cap companies weighed on relative results, as these companies underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
November 7, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Emerging Markets Small Cap Equity ETF	15.51%	15.24%	11/7/23

Regulatory Index
MSCI Emerging Markets	16.80%	18.81%	—

Performance Index
MSCI Emerging Markets Small Cap	10.07%	15.68%	—

Nov. 07, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 53,295,473

2,358

$ 140,100

3.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.9%		Taiwan	24%
Warrants	0.0%		India	21%
Rights	0.0%		China	17%
Short-Term Investments	0.9%		South Korea	13%
Other Assets and Liabilities	(0.8)%		Brazil	7%

C000229745 [Member]

Avantis Emerging Markets Value ETF

Avantis Emerging Markets Value ETF

AVES

NYSEArca

This annual shareholder report contains important information about Avantis Emerging Markets Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Emerging Markets Value ETF	$39	0.36%

$ 39

0.36%


What were the key factors that affected the fund’s performance?
Avantis Emerging Markets Value ETF returned 17.09% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI Emerging Markets IMI Value.
•			Against a backdrop of slow global growth and solid corporate earnings results, emerging markets (EM) stocks rallied for the 12-month period and outperformed developed markets stocks. Within the EM universe, large-cap stocks outperformed small caps, and the growth style broadly outperformed value.
•			The fund’s overweight versus the index in companies with the highest combined profitability and book-to-market characteristics, which outperformed for the period, contributed to performance. An underweight to companies with the lowest profitability and book-to-market traits, which underperformed, also boosted results.
•			Sector weightings, byproducts of the fund’s focus on valuation metrics, contributed overall. An overweight to the outperforming consumer discretionary sector and an underweight to the underperforming energy sector were key contributors.
•			The fund’s underweight position in mega-cap stocks, which outperformed, and overweight in smaller-cap stocks, which underperformed, detracted from performance.


Cumulative Performance (based on an initial $10,000 investment)
September 28, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Emerging Markets Value ETF	17.09%	6.30%	9/28/21

Regulatory Index
MSCI Emerging Markets IMI	15.82%	2.88%	—

Performance Index
MSCI Emerging Markets IMI Value	11.56%	4.36%	—

Sep. 28, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 776,461,661

1,730

$ 2,147,216

12.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	100.2%		China	27%
Warrants	0.0%		Taiwan	22%
Rights	0.0%		India	20%
Short-Term Investments	0.9%		South Korea	13%
Other Assets and Liabilities	(1.1)%		Brazil	5%

C000237946 [Member]

Avantis Inflation Focused Equity ETF

Avantis Inflation Focused Equity ETF

AVIE

NYSEArca

This annual shareholder report contains important information about Avantis Inflation Focused Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Inflation Focused Equity ETF	$25	0.25%

$ 25

0.25%


What were the key factors that affected the fund’s performance?
Avantis Inflation Focused Equity ETF returned (2.98)% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 3000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s sector allocations were key performance detractors. Overweight positions versus the index in the health care, energy and consumer staples sectors, which underperformed, detracted from results. The fund held no exposure to the outperforming information technology, communication services and consumer staples sectors, which also weighed on performance.
•			The fund’s emphasis on companies with higher profitability also detracted from results.


Cumulative Performance (based on an initial $10,000 investment)
September 27, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Inflation Focused Equity ETF	-2.98%	11.10%	9/27/22


Russell 3000	15.84%	22.75%	—

Sep. 27, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 6,263,791

354

$ 13,014

3.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.6%		Oil, Gas and Consumable Fuels	23%
Rights	0.0%		Insurance	12%
Short-Term Investments	0.3%		Biotechnology	10%
Other Assets and Liabilities	0.1%		Pharmaceuticals	9%
			Health Care Providers and Services	8%

C000214351 [Member]

Avantis International Equity ETF

Avantis International Equity ETF

AVDE

NYSEArca

This annual shareholder report contains important information about Avantis International Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis International Equity ETF	$25	0.23%

$ 25

0.23%


What were the key factors that affected the fund’s performance?
Avantis International Equity ETF returned 19.64% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA IMI.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and value broadly outpaced growth.
•			The fund’s overweight versus the index in companies with the highest combined profitability and book-to-market characteristics contributed to performance. The fund’s underweight to the lowest profitability and book-to-market companies also aided results.
•			The fund’s sector weightings—a byproduct of the fund’s focus on companies with high profitability and book-to-market traits—broadly contributed. An underweight to the underperforming health care sector was a top contributor. Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, also aided results. REITs underperformed for the period.
•			The fund’s underweight to mega-cap stocks, which outperformed for the period, detracted from performance. Additionally, overweights to mid- and micro-cap stocks, which underperformed, weighed on results.


Cumulative Performance (based on an initial $10,000 investment)
September 24, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Avantis International Equity ETF	19.64%	12.03%	10.31%	9/24/19


MSCI World ex USA IMI	15.59%	10.21%	9.08%	—

Sep. 24, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 8,756,241,794

3,172

$ 14,238,392

3.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.6%		Japan	21%
Warrants	0.0%		United Kingdom	13%
Rights	0.0%		Canada	11%
Short-Term Investments	1.3%		France	9%
Other Assets and Liabilities	(0.9)%		Germany	8%

C000229746 [Member]

Avantis International Large Cap Value ETF

Avantis International Large Cap Value ETF

AVIV

NYSEArca

This annual shareholder report contains important information about Avantis International Large Cap Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis International Large Cap Value ETF	$28	0.25%

$ 28

0.25%


What were the key factors that affected the fund’s performance?
Avantis International Large Cap Value ETF returned 22.37% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA Value Index.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Large-cap stocks generally underperformed small caps, and within the large-cap universe, value outpaced growth.
•			The fund’s emphasis on companies with the highest profitability and book-to-market characteristics, which underperformed, weighed on results. An underweight versus the index in companies with the lowest profitability and book-to-market traits, which also underperformed, modestly aided performance.
•			Sector weightings, a byproduct of the fund’s focus on companies with high profitability and book-to-market metrics, detracted overall. An underweight to the financials sector, which outperformed, and an overweight to the consumer discretionary sector, which underperformed, were key detractors.
•			Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, boosted results. REITs underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
September 28, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis International Large Cap Value ETF	22.37%	10.65%	9/28/21

Regulatory Index
MSCI World ex USA	14.88%	7.61%	—

Performance Index
MSCI World ex USA Value	22.93%	12.07%	—

Sep. 28, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 831,524,450

547

$ 1,493,702

11.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.6%		Japan	19%
Short-Term Investments	2.2%		United Kingdom	16%
Other Assets and Liabilities	(1.8)%		Canada	13%
			Germany	9%
			France	8%

C000243038 [Member]

Avantis International Small Cap Equity ETF

Avantis International Small Cap Equity ETF

AVDS

NYSEArca

This annual shareholder report contains important information about Avantis International Small Cap Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis International Small Cap Equity ETF	$33	0.30%

$ 33

0.30%


What were the key factors that affected the fund’s performance?
Avantis International Small Cap Equity ETF returned 22.34% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA Small Cap Index.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and within the small-cap universe, value outpaced growth.
•			The fund’s emphasis on companies with the highest combined profitability and book-to-market characteristics, which outperformed, aided performance. An underweight position versus the index in companies with the lowest profitability and book-to-market characteristics, which underperformed, also contributed to results.
•			Excluding real estate investment trusts (REITs), a strategic rather than tactical decision, lifted performance, as REITs underperformed for the period. Remaining sector weightings are a byproduct of the fund’s focus on valuation metrics.


Cumulative Performance (based on an initial $10,000 investment)
July 18, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis International Small Cap Equity ETF	22.34%	16.08%	7/18/23

Regulatory Index
MSCI World ex USA	14.88%	14.27%	—

Performance Index
MSCI World ex USA Small Cap	19.94%	14.49%	—

Jul. 18, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 125,930,541

2,842

$ 201,332

6.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.7%		Japan	32%
Warrants	0.0%		United Kingdom	11%
Rights	0.0%		Canada	10%
Short-Term Investments	1.0%		Australia	9%
Other Assets and Liabilities	(0.7)%		Sweden	4%

C000214352 [Member]

Avantis International Small Cap Value ETF

Avantis International Small Cap Value ETF

AVDV

NYSEArca

This annual shareholder report contains important information about Avantis International Small Cap Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis International Small Cap Value ETF	$41	0.36%

$ 41

0.36%


What were the key factors that affected the fund’s performance?
Avantis International Small Cap Value ETF returned 29.11% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA Small Cap Index.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and within the small-cap universe, value outpaced growth.
•			The fund’s emphasis on companies with the highest profitability and book-to-market characteristics, which outperformed, was a key contributor to performance. An underweight position versus the index in companies with the lowest profitability and book-to-market traits, which underperformed, also aided results.
•			Additionally, excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, lifted results. REITs underperformed for the period.
•			Overall, sector allocations, a byproduct of the fund’s focus on companies with high profitability and book-to-market characteristics, also contributed. Overweight positions in the financials and materials sectors, which sharply outperformed, were top contributors.


Cumulative Performance (based on an initial $10,000 investment)
September 24, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Avantis International Small Cap Value ETF	29.11%	15.89%	12.72%	9/24/19

Regulatory Index
MSCI World ex USA	14.88%	10.50%	9.21%	—

Performance Index
MSCI World ex USA Small Cap	19.94%	8.51%	8.35%	—

Sep. 24, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 11,757,913,859

1,451

$ 28,367,818

4.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.6%		Japan	33%
Warrants	0.0%		United Kingdom	12%
Rights	0.0%		Canada	10%
Short-Term Investments	0.8%		Australia	9%
Other Assets and Liabilities	(0.4)%		Sweden	4%

C000243039 [Member]

Avantis Moderate Allocation ETF

Avantis Moderate Allocation ETF

AVMA

NYSEArca

This annual shareholder report contains important information about Avantis Moderate Allocation ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Moderate Allocation ETF	$3	0.03%

$ 3

0.03%


What were the key factors that affected the fund’s performance?
Avantis Moderate Allocation ETF returned 11.40% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the custom index, which consists of 65% MSCI ACWI IMI/35% Bloomberg U.S. 1-5 Year Government/Credit Index.
•			Global stocks rallied for the 12-month period, which was characterized by mixed economic growth and upbeat corporate earnings results. Stocks and U.S. bonds advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Large-cap stocks generally fared better than small caps, and growth broadly outpaced value.
•			Within the fund’s equity portfolio, allocations by valuation metrics aided relative results. An overweight versus the index in companies with the highest combined profitability and book-to-market characteristics was the key contributor.
•			The fund’s sector weightings, which are byproducts of the fund’s focus on companies with strong valuation metrics, also aided relative performance. An underweight to the underperforming health care sector and an overweight to the outperforming financials sector were top contributors.
•			Within the fixed-income component, an overweight to the corporate sector aided performance as credit spreads tightened during the 12-month period. The fund’s positioning on the yield curve and exposure to bonds with higher carry and roll-down also contributed to performance.


Cumulative Performance (based on an initial $10,000 investment)
June 27, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Moderate Allocation ETF	11.40%	13.86%	6/27/23

Regulatory Index
MSCI ACWI IMI	15.50%	18.51%	—
Bloomberg U.S. Aggregate Bond	3.14%	4.31%	—
Performance Index
65% MSCI ACWI IMI/35% Bloomberg U.S. 1-5 Year Government/Credit Bond	11.76%	13.94%	—

Jun. 27, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 40,553,372

$ 8,557

0.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)
	Domestic Equity Funds	48.3%
	Domestic Fixed Income Funds	31.2%
	International Equity Funds	20.3%
	Short-Term Investments	1.4%
	Other Assets and Liabilities	(1.2)%

C000229748 [Member]

Avantis Real Estate ETF

Avantis Real Estate ETF

AVRE

NYSEArca

This annual shareholder report contains important information about Avantis Real Estate ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Real Estate ETF	$17	0.17%

$ 17

0.17%


What were the key factors that affected the fund’s performance?
Avantis Real Estate ETF returned 1.00% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the S&P Global REIT Index.
•			Against a backdrop of rising government bond yields and broad stock market gains, global real estate stocks advanced slightly for the 12-month period.
•			An underweight to real estate investment trusts (REITs) with the highest leverage contributed to relative performance, as these REITs underperformed during the period.
•			The fund’s position in telecommunications tower REITs, which are excluded from the index, detracted from performance. An underweight position versus the index in health care REITs also weighed on results.


Cumulative Performance (based on an initial $10,000 investment)
September 28, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Real Estate ETF	1.00%	0.33%	9/28/21

Regulatory Index
MSCI World IMI	15.46%	9.49%	—

Performance Index
S&P Global REIT	1.11%	0.69%	—

Sep. 28, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 647,263,300

315

$ 951,621

0.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Sectors (as a % of net assets)
Common Stocks	99.6%		Retail REITs	17%
Short-Term Investments	1.4%		Industrial REITs	16%
Other Assets and Liabilities	(1.0)%		Health Care REITs	11%
			Telecom Tower REITs	9%
			Multi-Family Residential REITs	9%

C000234360 [Member]

Avantis Responsible Emerging Markets Equity ETF

Avantis Responsible Emerging Markets Equity ETF

AVSE

NYSEArca

This annual shareholder report contains important information about Avantis Responsible Emerging Markets Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Responsible Emerging Markets Equity ETF	$36	0.33%

$ 36

0.33%


What were the key factors that affected the fund’s performance?
Avantis Responsible Emerging Markets Equity ETF returned 18.36% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI Emerging Markets IMI.
•			Against a backdrop of slow global growth and solid corporate earnings results, emerging markets (EM) stocks rallied for the 12-month period and outperformed developed markets stocks. Within the EM universe, large-cap stocks outperformed small caps, and the growth style broadly outperformed value.
•			The fund’s underweight versus the benchmark to companies with the lowest profitability and book-to-market characteristics, which underperformed, contributed to performance. The fund’s overweight to companies with the highest profitability and book-to-market traits, which underperformed, weighed on results.
•			The fund’s sector weightings, byproducts of the fund’s focus on valuation metrics, lifted performance. An underweight position in the underperforming energy sector was a key contributor, followed by an overweight in the outperforming consumer discretionary sector.
•			The fund’s country exposures also aided results. Excluding the underperforming Saudi Arabian market and overweighting the outperforming Taiwanese market were notable contributors.


Cumulative Performance (based on an initial $10,000 investment)
March 28, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Responsible Emerging Markets Equity ETF	18.36%	8.58%	3/28/22


MSCI Emerging Markets IMI	15.82%	6.34%	—

Mar. 28, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 147,620,036

2,360

$ 341,232

2.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	100.3%		China	27%
Warrants	0.0%		Taiwan	22%
Rights	0.0%		India	19%
Short-Term Investments	1.3%		South Korea	12%
Other Assets and Liabilities	(1.6)%		Brazil	5%

C000234361 [Member]

Avantis Responsible International Equity ETF

Avantis Responsible International Equity ETF

AVSD

NYSEArca

This annual shareholder report contains important information about Avantis Responsible International Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Responsible International Equity ETF	$25	0.23%

$ 25

0.23%


What were the key factors that affected the fund’s performance?
Avantis Responsible International Equity ETF returned 20.42% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA IMI.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and value broadly outpaced growth.
•			The fund’s overweight versus the benchmark to companies with high profitability and book-to-market characteristics, which outperformed, aided performance. The fund’s underweight to companies with low profitability and book-to-market characteristics, which underperformed, also lifted results.
•			The fund’s sector weightings, byproducts of the fund’s focus on valuation metrics, boosted performance. An overweight in the outperforming financials sector and an underweight in the underperforming health care sector largely drove results.
•			An underweight to mega-cap companies, which outperformed, weighed on results. Overweight exposure to mid- and micro-cap companies, which underperformed, also detracted from performance.


Cumulative Performance (based on an initial $10,000 investment)
March 15, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Responsible International Equity ETF	20.42%	12.56%	3/15/22


MSCI World ex USA IMI	15.59%	11.00%	—

Mar. 15, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 215,881,447

2,134

$ 378,325

3.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.6%		Japan	21%
Warrants	0.0%		United Kingdom	13%
Rights	0.0%		Canada	11%
Short-Term Investments	2.1%		France	9%
Other Assets and Liabilities	(1.7)%		Germany	8%

C000234362 [Member]

Avantis Responsible U.S. Equity ETF

Avantis Responsible U.S. Equity ETF

AVSU

NYSEArca

This annual shareholder report contains important information about Avantis Responsible U.S. Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Responsible U.S. Equity ETF	$16	0.15%

$ 16

0.15%


What were the key factors that affected the fund’s performance?
Avantis Responsible U.S. Equity ETF returned 13.24% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 3000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s allocations by market capitalizations broadly detracted from performance. An underweight versus the index in mega-cap stocks, which outperformed, weighed on results. Overweight positions to other capitalization categories, which underperformed, also detracted.
•			The fund’s overweight to companies with the highest profitability and book-to-market traits, which outperformed, lifted results. Weightings to other valuation quartiles detracted from performance.
•			Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, aided performance, as REITs underperformed. Remaining sector exposures, byproducts of the fund’s focus on valuation metrics, broadly contributed, led by an underweight in the underperforming energy sector.


Cumulative Performance (based on an initial $10,000 investment)
March 15, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Responsible U.S. Equity ETF	13.24%	12.10%	3/15/22


Russell 3000	15.84%	13.83%	—

Mar. 15, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 411,907,008

1,233

$ 512,061

1.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Semiconductors and Semiconductor Equipment	11%
Rights	0.0%		Software	8%
Short-Term Investments	0.2%		Interactive Media and Services	7%
Other Assets and Liabilities	0.0%		Banks	6%
			Technology Hardware, Storage and Peripherals	6%

C000221280 [Member]

Avantis Short-Term Fixed Income ETF

Avantis Short-Term Fixed Income ETF

AVSF

NYSEArca

This annual shareholder report contains important information about Avantis Short-Term Fixed Income ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis Short-Term Fixed Income ETF	$15	0.15%

$ 15

0.15%


What were the key factors that affected the fund’s performance?
Avantis Short-Term Fixed Income ETF returned 5.18% for the reporting period ended August 31, 2025.
The fund seeks to maximize total return. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. 1-5 Year Government/Credit Index.
•			Short-dated Treasury yields were modestly higher for the period, but the effect on different tenors was mixed. The yield curve steepened, as two-year Treasury yields fell, and five-year Treasury yields rose modestly. The Federal Reserve cut interest rates by 1 percentage point early in the period. Meanwhile, credit spreads generally tightened, and most U.S. bond sectors delivered gains for the 12 months.
•			Yield curve positioning and asset allocation were the primary drivers of fund performance. The fund maintained a duration position in line with the index.
•			The fund’s overweight versus the index to the corporate sector aided performance, as credit spreads tightened.
•			The fund’s positioning on the yield curve and exposure to bonds with higher carry and roll-down also contributed to performance.


Cumulative Performance (based on an initial $10,000 investment)
October 13, 2020 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis Short-Term Fixed Income ETF	5.18%	1.53%	10/13/20

Regulatory Index
Bloomberg U.S. Aggregate Bond	3.14%	-0.69%	—

Performance Index
Bloomberg U.S. 1-5 Year Government/Credit Bond	4.79%	1.36%	—

Oct. 13, 2020

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 667,945,332

545

$ 870,766

57.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			78.4%
			U.S. Treasury Securities			18.4%
			U.S. Government Agency Securities			0.8%
			Sovereign Governments and Agencies			0.2%
			Short-Term Investments			0.9%
			Other Assets and Liabilities			1.3%

C000214353 [Member]

Avantis U.S. Equity ETF

Avantis U.S. Equity ETF

AVUS

NYSEArca

This annual shareholder report contains important information about Avantis U.S. Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Equity ETF	$16	0.15%

$ 16

0.15%


What were the key factors that affected the fund’s performance?
Avantis U.S. Equity ETF returned 14.49% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 3000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s allocations by capitalizations broadly detracted from relative results. An underweight versus the index in mega-cap stocks, which outperformed, and an overweight in micro-cap stocks, which underperformed, were the main detractors. Overweight positions in large-, mid- and small-cap stocks also detracted from results.
•			The fund’s overweight to companies with the highest profitability and book-to-market traits aided performance.
•			The fund’s sector weightings—a byproduct of the fund’s focus on companies with high profitability and book-to-market traits—broadly contributed. An underweight to the underperforming health care sector was a top contributor. Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, also aided results. REITs significantly underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
September 24, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Avantis U.S. Equity ETF	14.49%	15.16%	15.04%	9/24/19


Russell 3000	15.84%	14.11%	15.18%	—

Sep. 24, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 9,465,724,699

1,929

$ 11,992,823

2.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Semiconductors and Semiconductor Equipment	9%
Rights	0.0%		Software	7%
Escrow Interests	0.0%		Interactive Media and Services	7%
Short-Term Investments	0.1%		Banks	6%
Other Assets and Liabilities	0.1%		Oil, Gas and Consumable Fuels	5%

C000243042 [Member]

Avantis U.S. Large Cap Equity ETF

Avantis U.S. Large Cap Equity ETF

AVLC

NYSEArca

This annual shareholder report contains important information about Avantis U.S. Large Cap Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Large Cap Equity ETF	$16	0.15%

$ 16

0.15%


What were the key factors that affected the fund’s performance?
Avantis U.S. Large Cap Equity ETF returned 15.75% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 1000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s market-capitalization allocations versus the benchmark were the main detractors from performance. The fund’s underweight in mega-cap stocks, which outperformed, detracted from results. Additionally, an overweight versus the index in mid- and large-cap stocks, which underperformed, weighed on results.
•			An overweight in companies with the highest combined profitability and book-to-market characteristics, which outperformed, aided the fund’s performance.
•			Excluding real estate investment trusts (REITs), a strategic rather than tactical decision, contributed to relative returns. REITs underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
September 26, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis U.S. Large Cap Equity ETF	15.75%	24.78%	9/26/23


Russell 1000	16.24%	25.54%	—

Sep. 26, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 695,847,862

956

$ 788,445

1.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Semiconductors and Semiconductor Equipment	11%
Rights	0.0%		Software	9%
Short-Term Investments	0.1%		Interactive Media and Services	6%
Other Assets and Liabilities	0.1%		Technology Hardware, Storage and Peripherals	5%
			Oil, Gas and Consumable Fuels	5%

C000229747 [Member]

Avantis U.S. Large Cap Value ETF

Avantis U.S. Large Cap Value ETF

AVLV

NYSEArca

This annual shareholder report contains important information about Avantis U.S. Large Cap Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Large Cap Value ETF	$16	0.15%

$ 16

0.15%


What were the key factors that affected the fund’s performance?
Avantis U.S. Large Cap Value ETF returned 11.90% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 1000 Value Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s overweight versus the index in companies with the highest combined profitability and book-to-market characteristics, which outperformed, contributed to performance. An underweight to companies with the lowest profitability and book-to-market traits, which underperformed, also lifted results.
•			Sector weightings, a byproduct of the fund’s focus on valuation metrics, contributed to performance overall. An underweight to the underperforming health care sector and an overweight to the outperforming communication services sector were key contributors.
•			Excluding real estate investment trusts (REITs), which is a strategic rather than tactical allocation, also aided performance. REITs underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
September 21, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis U.S. Large Cap Value ETF	11.90%	11.44%	9/21/21

Regulatory Index
Russell 1000	16.24%	11.41%	—

Performance Index
Russell 1000 Value	9.33%	8.97%	—

Sep. 21, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 8,199,763,307

306

$ 9,073,193

7.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Oil, Gas and Consumable Fuels	12%
Short-Term Investments	0.0%		Insurance	8%
Other Assets and Liabilities	0.2%		Interactive Media and Services	7%
			Specialty Retail	5%
			Consumer Staples Distribution & Retail	5%

C000246148 [Member]

Avantis U.S. Mid Cap Equity ETF

Avantis U.S. Mid Cap Equity ETF

AVMC

NYSEArca

This annual shareholder report contains important information about Avantis U.S. Mid Cap Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Mid Cap Equity ETF	$19	0.18%

$ 19

0.18%


What were the key factors that affected the fund’s performance?
Avantis U.S. Mid Cap Equity ETF returned 11.44% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell Midcap Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, mid-cap stocks outperformed small caps but underperformed large caps, while growth stocks broadly outperformed their value-style counterparts.
•			The fund’s allocations by market capitalizations weighed on relative results. An overweight position versus the index in mid-cap stocks and underweights to larger-cap companies detracted from relative performance.
•			An underweight to companies with the lowest profitability and book-to-market characteristics, which outperformed, detracted from relative performance.
•			Excluding real estate investment trusts (REITs), a strategic rather than tactical decision, aided performance, as REITs underperformed. Remaining sector allocations, which are byproducts of the fund’s focus on valuation metrics, also lifted relative results.


Cumulative Performance (based on an initial $10,000 investment)
November 7, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis U.S. Mid Cap Equity ETF	11.44%	21.65%	11/7/23

Regulatory Index
Russell 3000	15.84%	25.43%	—

Performance Index
Russell Midcap	12.58%	22.23%	—

Nov. 07, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 207,950,116

507

$ 269,054

8.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Insurance	6%
Short-Term Investments	0.1%		Capital Markets	5%
Other Assets and Liabilities	0.1%		Banks	5%
			Oil, Gas and Consumable Fuels	5%
			Machinery	4%

C000246149 [Member]

Avantis U.S. Mid Cap Value ETF

Avantis U.S. Mid Cap Value ETF

AVMV

NYSEArca

This annual shareholder report contains important information about Avantis U.S. Mid Cap Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Mid Cap Value ETF	$21	0.20%

$ 21

0.20%


What were the key factors that affected the fund’s performance?
Avantis U.S. Mid Cap Value ETF returned 11.65% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell Midcap Value Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, mid-cap stocks outperformed small caps but underperformed large caps, while growth stocks broadly outperformed their value-style counterparts.
•			The fund’s overweight versus the index in companies with the highest profitability and book-to-market characteristics, which outperformed, aided relative performance. Additionally, an underweight in companies with the lowest profitability and book-to-market characteristics, which underperformed, also contributed to performance.
•			Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, aided relative results. REITs underperformed for the period.
•			Sector allocations, which are byproducts of the fund’s focus on valuation metrics, broadly contributed to performance. An underweight to the underperforming health care sector and an overweight to the outperforming financials sector were key contributors.


Cumulative Performance (based on an initial $10,000 investment)
November 7, 2023 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis U.S. Mid Cap Value ETF	11.65%	22.15%	11/7/23

Regulatory Index
Russell 3000	15.84%	25.43%	—

Performance Index
Russell Midcap Value	8.24%	19.96%	—

Nov. 07, 2023

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 264,174,534

275

$ 292,195

28.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Insurance	10%
Short-Term Investments	0.1%		Oil, Gas and Consumable Fuels	7%
Other Assets and Liabilities	0.1%		Banks	6%
			Capital Markets	6%
			Specialty Retail	5%

C000253784 [Member]

Avantis U.S. Quality ETF

Avantis U.S. Quality ETF

AVUQ

NASDAQ

This annual shareholder report contains important information about Avantis U.S. Quality ETF for the period of March 25, 2025 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment*	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Quality ETF	$7	0.15%
*The costs of an investment would have been greater had the class been available for a full year.

$ 7

0.15%

$ 149,729,020

505

$ 88,686

5.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.9%		Semiconductors and Semiconductor Equipment	18%
Short-Term Investments	0.2%		Software	16%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	12%
			Technology Hardware, Storage and Peripherals	10%
			Broadline Retail	8%

C000233056 [Member]

Avantis U.S. Small Cap Equity ETF

Avantis U.S. Small Cap Equity ETF

AVSC

NYSEArca

This annual shareholder report contains important information about Avantis U.S. Small Cap Equity ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Small Cap Equity ETF	$26	0.25%

$ 26

0.25%


What were the key factors that affected the fund’s performance?
Avantis U.S. Small Cap Equity ETF returned 5.99% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 2000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the small-cap universe, growth stocks broadly outperformed their value-style counterparts.
•			The fund’s overweight versus the index to companies with the highest profitability and book-to-market characteristics, which underperformed, weighed on results. An underweight to companies with the lowest combined profitability and book-to-market characteristics, which outperformed, also detracted.
•			An overweight in micro-cap companies, which underperformed, weighed on results.
•			Excluding real estate investment trusts (REITs), a strategic rather than tactical decision, aided performance as REITs underperformed. Remaining sector allocations, a byproduct of the fund’s focus on valuation metrics, contributed overall, led by an underweight position in the underperforming health care sector.


Cumulative Performance (based on an initial $10,000 investment)
January 11, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Avantis U.S. Small Cap Equity ETF	5.99%	4.88%	1/11/22

Regulatory Index
Russell 3000	15.84%	9.96%	—

Performance Index
Russell 2000	8.17%	3.59%	—

Jan. 11, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 1,892,949,057

1,309

$ 3,729,580

5.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Banks	17%
Rights	0.0%		Oil, Gas and Consumable Fuels	5%
Short-Term Investments	1.4%		Machinery	4%
Other Assets and Liabilities	(1.2)%		Biotechnology	4%
			Chemicals	3%

C000214354 [Member]

Avantis U.S. Small Cap Value ETF

Avantis U.S. Small Cap Value ETF

AVUV

NYSEArca

This annual shareholder report contains important information about Avantis U.S. Small Cap Value ETF for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Avantis U.S. Small Cap Value ETF	$26	0.25%

$ 26

0.25%


What were the key factors that affected the fund’s performance?
Avantis U.S. Small Cap Value ETF returned 5.83% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 2000 Value Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the small-cap universe, growth stocks broadly outperformed their value-style counterparts.
•			The fund’s exclusion of real estate investment trusts (REITs), which is a strategic allocation decision rather than a tactical move, aided relative performance. REITs underperformed for the period.
•			Overall, sector weightings boosted relative performance, led by an underweight versus the index in the underperforming health care sector. Sector weightings are a byproduct of the fund’s focus on companies with high profitability and book-to-market traits.
•			The fund’s focus on companies with the highest combined profitability and book-to-market characteristics weighed on performance. An underweight position in the lowest profitability and book-to-market companies also detracted.


Cumulative Performance (based on an initial $10,000 investment)
September 24, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Avantis U.S. Small Cap Value ETF	5.83%	19.27%	14.14%	9/24/19

Regulatory Index
Russell 3000	15.84%	14.11%	15.18%	—

Performance Index
Russell 2000 Value	5.83%	13.06%	8.77%	—

Sep. 24, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 18,272,384,642

768

$ 38,129,751

6.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Banks	16%
Rights	0.0%		Oil, Gas and Consumable Fuels	9%
Short-Term Investments	0.4%		Specialty Retail	5%
Other Assets and Liabilities	(0.2)%		Energy Equipment and Services	5%
			Insurance	5%

C000221281 [Member]

Avantis Core Fixed Income Fund

Institutional Class

AVIGX

This annual shareholder report contains important information about Avantis Core Fixed Income Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$15	0.15%

$ 15

0.15%


What were the key factors that affected the fund’s performance?
Avantis Core Fixed Income Fund Institutional Class returned 4.14% for the reporting period ended August 31, 2025.
The fund seeks to maximize total return. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. Aggregate Bond Index.
•			Treasury yields were higher for the period, but the effect on different tenors was mixed as the yield curve steepened meaningfully. Shorter-dated and intermediate maturities outperformed longer-dated securities, with 30-year Treasury yields rising approximately 0.8 of a percentage point. The Federal Reserve cut interest rates by 1 percentage point early in the period. Meanwhile, credit spreads generally tightened, and most U.S. bond sectors delivered gains for the 12-month period.
•			Yield curve positioning and asset allocation were the primary drivers of fund performance. The fund maintained a duration position in line with the benchmark.
•			The fund’s overweight versus the benchmark to the corporate sector aided performance, as credit spreads tightened.
•			The fund’s positioning on the yield curve and exposure to bonds with higher carry and roll-down also contributed to performance.


Cumulative Performance (based on an initial $10,000 investment)
February 24, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Institutional Class	4.14%	-0.35%	2/24/21


Bloomberg U.S. Aggregate Bond	3.14%	-0.39%	—

Feb. 24, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 164,007,991

417

$ 13,699

319.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			61.3%
			U.S. Treasury Securities			24.3%
			U.S. Government Agency Mortgage-Backed Securities			18.8%
			U.S. Government Agency Securities			2.0%
			Sovereign Governments and Agencies			0.2%
			Short-Term Investments			11.0%
			Other Assets and Liabilities			(17.6)%

C000226122 [Member]

Avantis Core Fixed Income Fund

G Class

AVBNX

This annual shareholder report contains important information about Avantis Core Fixed Income Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis Core Fixed Income Fund G Class returned 4.18% for the reporting period ended August 31, 2025.
The fund seeks to maximize total return. The commentary below refers to the fund’s performance compared to the Bloomberg U.S. Aggregate Bond Index.
•			Treasury yields were higher for the period, but the effect on different tenors was mixed as the yield curve steepened meaningfully. Shorter-dated and intermediate maturities outperformed longer-dated securities, with 30-year Treasury yields rising approximately 0.8 of a percentage point. The Federal Reserve cut interest rates by 1 percentage point early in the period. Meanwhile, credit spreads generally tightened, and most U.S. bond sectors delivered gains for the 12-month period.
•			Yield curve positioning and asset allocation were the primary drivers of fund performance. The fund maintained a duration position in line with the benchmark.
•			The fund’s overweight versus the benchmark to the corporate sector aided performance, as credit spreads tightened.
•			The fund’s positioning on the yield curve and exposure to bonds with higher carry and roll-down also contributed to performance.


Cumulative Performance (based on an initial $10,000 investment)
February 24, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	4.18%	-0.21%	2/24/21


Bloomberg U.S. Aggregate Bond	3.14%	-0.39%	—

Feb. 24, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 164,007,991

417

$ 13,699

319.00%


Fund Holdings


			Types of Investments in Portfolio (as a % of net assets)
			Corporate Bonds			61.3%
			U.S. Treasury Securities			24.3%
			U.S. Government Agency Mortgage-Backed Securities			18.8%
			U.S. Government Agency Securities			2.0%
			Sovereign Governments and Agencies			0.2%
			Short-Term Investments			11.0%
			Other Assets and Liabilities			(17.6)%

C000214357 [Member]

Avantis Emerging Markets Equity Fund

Institutional Class

AVEEX

This annual shareholder report contains important information about Avantis Emerging Markets Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$36	0.33%

$ 36

0.33%


What were the key factors that affected the fund’s performance?
Avantis Emerging Markets Equity Fund Institutional Class returned 17.51% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI Emerging Markets IMI.
•			Against a backdrop of slow global growth and solid corporate earnings results, emerging markets (EM) stocks rallied for the 12-month period and outperformed developed markets stocks. Within the EM universe, large-cap stocks outperformed small caps, and the growth style broadly outperformed value.
•			The fund has no exposure to China A shares, which are part of the benchmark and underperformed during the period.
•			The fund’s underweight versus the benchmark to companies with the lowest profitability and book-to-market characteristics aided results.
•			The fund's allocations by market capitalizations detracted from results, largely due to an overweight to micro-cap stocks. Stocks in this capitalization category underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
December 4, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Institutional Class	17.51%	9.05%	8.49%	12/4/19


MSCI Emerging Markets IMI	15.82%	5.96%	6.59%	—

Dec. 04, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 643,759,835

3,177

$ 1,839,981

22.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.8%		China	28%
Warrants	0.0%		Taiwan	20%
Rights	0.0%		India	19%
Short-Term Investments	2.2%		South Korea	12%
Other Assets and Liabilities	(2.0)%		Brazil	5%

C000226120 [Member]

Avantis Emerging Markets Equity Fund

G Class

AVENX

This annual shareholder report contains important information about Avantis Emerging Markets Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis Emerging Markets Equity Fund G Class returned 17.95% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI Emerging Markets IMI.
•			Against a backdrop of slow global growth and solid corporate earnings results, emerging markets (EM) stocks rallied for the 12-month period and outperformed developed markets stocks. Within the EM universe, large-cap stocks outperformed small caps, and the growth style broadly outperformed value.
•			The fund has no exposure to China A shares, which are part of the benchmark and underperformed during the period.
•			The fund’s underweight versus the benchmark to companies with the lowest profitability and book-to-market characteristics aided results.
•			The fund's allocations by market capitalizations detracted from results, largely due to an overweight to micro-cap stocks. Stocks in this capitalization category underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
January 20, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	17.95%	4.23%	1/20/21


MSCI Emerging Markets IMI	15.82%	1.01%	—

Jan. 20, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 643,759,835

3,177

$ 1,839,981

22.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.8%		China	28%
Warrants	0.0%		Taiwan	20%
Rights	0.0%		India	19%
Short-Term Investments	2.2%		South Korea	12%
Other Assets and Liabilities	(2.0)%		Brazil	5%

C000214358 [Member]

Avantis International Equity Fund

Institutional Class

AVDEX

This annual shareholder report contains important information about Avantis International Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$25	0.23%

$ 25

0.23%


What were the key factors that affected the fund’s performance?
Avantis International Equity Fund Institutional Class returned 18.82% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA IMI.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and value broadly outpaced growth.
•			Performance among profitability and book-to-market categories was broadly positive. The fund’s overweight versus the index in companies with the highest combined profitability and book-to-market characteristics was a top contributor. The fund’s underweight to the lowest profitability and book-to-market companies also aided results.
•			The fund’s sector weightings—a byproduct of the fund’s focus on companies with high profitability and book-to-market traits—also broadly contributed. An underweight to the underperforming health care sector was a top contributor. Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, also aided results. REITs underperformed for the period.
•			The fund’s underweight to mega-cap stocks, which outperformed for the period, detracted from performance. Additionally, overweights to mid- and micro-cap stocks, which underperformed, weighed on results.


Cumulative Performance (based on an initial $10,000 investment)
December 4, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Institutional Class	18.82%	11.66%	9.67%	12/4/19


MSCI World ex USA IMI	15.59%	10.21%	8.70%	—

Dec. 04, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 409,458,559

2,954

$ 573,258

6.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.3%		Japan	21%
Warrants	0.0%		United Kingdom	13%
Rights	0.0%		Canada	11%
Short-Term Investments	5.3%		France	8%
Other Assets and Liabilities	(4.6)%		Germany	8%

C000226121 [Member]

Avantis International Equity Fund

G Class

AVDNX

This annual shareholder report contains important information about Avantis International Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis International Equity Fund G Class returned 19.16% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA IMI.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and value broadly outpaced growth.
•			Performance among profitability and book-to-market categories was broadly positive. The fund’s overweight versus the index in companies with the highest combined profitability and book-to-market characteristics was a top contributor. The fund’s underweight to the lowest profitability and book-to-market companies also aided results.
•			The fund’s sector weightings—a byproduct of the fund’s focus on companies with high profitability and book-to-market traits—also broadly contributed. An underweight to the underperforming health care sector was a top contributor. Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, also aided results. REITs underperformed for the period.
•			The fund’s underweight to mega-cap stocks, which outperformed for the period, detracted from performance. Additionally, overweights to mid- and micro-cap stocks, which underperformed, weighed on results.


Cumulative Performance (based on an initial $10,000 investment)
January 20, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	19.16%	8.97%	1/20/21


MSCI World ex USA IMI	15.59%	7.59%	—

Jan. 20, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 409,458,559

2,954

$ 573,258

6.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.3%		Japan	21%
Warrants	0.0%		United Kingdom	13%
Rights	0.0%		Canada	11%
Short-Term Investments	5.3%		France	8%
Other Assets and Liabilities	(4.6)%		Germany	8%

C000214350 [Member]

Avantis International Small Cap Value Fund

Institutional Class

AVDVX

This annual shareholder report contains important information about Avantis International Small Cap Value Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$41	0.36%

$ 41

0.36%


What were the key factors that affected the fund’s performance?
Avantis International Small Cap Value Fund Institutional Class returned 27.71% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA Small Cap Index.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and within the small-cap universe, value outpaced growth.
•			The fund’s emphasis on companies with the highest profitability and book-to-market characteristics, which outperformed, was a key contributor to performance. An underweight position versus the index in companies with the lowest profitability and book-to-market traits, which underperformed, also aided results.
•			Additionally, excluding real estate investment trusts (REITS), which is a strategic rather than tactical decision, lifted results. REITs underperformed for the period.
•			Overall, sector allocations, a byproduct of the fund’s focus on companies with high profitability and book-to-market characteristics, also contributed. Overweight positions in the financials and materials sectors, which sharply outperformed, were among the top contributors.


Cumulative Performance (based on an initial $10,000 investment)
December 4, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Institutional Class	27.71%	15.56%	12.11%	12/4/19

Regulatory Index
MSCI World ex USA	14.88%	10.50%	8.88%	—

Performance Index
MSCI World ex USA Small Cap	19.94%	8.51%	7.60%	—

Dec. 04, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 526,967,693

1,322

$ 1,546,102

31.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Japan	33%
Warrants	0.0%		United Kingdom	11%
Rights	0.0%		Canada	10%
Short-Term Investments	2.9%		Australia	9%
Other Assets and Liabilities	(2.3)%		Sweden	5%

C000226117 [Member]

Avantis International Small Cap Value Fund

G Class

AVANX

This annual shareholder report contains important information about Avantis International Small Cap Value Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis International Small Cap Value Fund G Class returned 28.19% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the MSCI World ex USA Small Cap Index.
•			Non-U.S. developed markets stocks rallied for the 12-month period, which was characterized by slow global growth and upbeat corporate earnings results. Stocks advanced despite tariff policy uncertainty, interest rate volatility, geopolitical tensions and persistent inflation. Small-cap stocks generally outperformed large caps, and within the small-cap universe, value outpaced growth.
•			The fund’s emphasis on companies with the highest profitability and book-to-market characteristics, which outperformed, was a key contributor to performance. An underweight position versus the index in companies with the lowest profitability and book-to-market traits, which underperformed, also aided results.
•			Additionally, excluding real estate investment trusts (REITS), which is a strategic rather than tactical decision, lifted results. REITs underperformed for the period.
•			Overall, sector allocations, a byproduct of the fund’s focus on companies with high profitability and book-to-market characteristics, also contributed. Overweight positions in the financials and materials sectors, which sharply outperformed, were among the top contributors.


Cumulative Performance (based on an initial $10,000 investment)
January 20, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	28.19%	12.22%	1/20/21

Regulatory Index
MSCI World ex USA	14.88%	8.00%	—

Performance Index
MSCI World ex USA Small Cap	19.94%	5.20%	—

Jan. 20, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 526,967,693

1,322

$ 1,546,102

31.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Countries (as a % of net assets)
Common Stocks	99.4%		Japan	33%
Warrants	0.0%		United Kingdom	11%
Rights	0.0%		Canada	10%
Short-Term Investments	2.9%		Australia	9%
Other Assets and Liabilities	(2.3)%		Sweden	5%

C000214355 [Member]

Avantis U.S. Equity Fund

Institutional Class

AVUSX

This annual shareholder report contains important information about Avantis U.S. Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$16	0.15%

$ 16

0.15%


What were the key factors that affected the fund’s performance?
Avantis U.S. Equity Fund Institutional Class returned 14.02% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 3000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s allocations by capitalizations broadly detracted from relative results. An underweight versus the index in mega-cap stocks, which outperformed, and an overweight in micro-cap stocks, which underperformed, were the main detractors. Overweight positions in large-, mid- and small-cap stocks also detracted from results.
•			The fund’s overweight to companies with the highest profitability and book-to-market traits aided performance.
•			The fund’s sector weightings—a byproduct of the fund’s focus on companies with high profitability and book-to-market traits—broadly contributed. An underweight to the underperforming health care sector was a top contributor. Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, also aided results. REITs significantly underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
December 4, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Institutional Class	14.02%	14.54%	14.31%	12/4/19


Russell 3000	15.84%	14.11%	14.68%	—

Dec. 04, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 945,531,790

1,607

$ 1,008,207

16.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.7%		Semiconductors and Semiconductor Equipment	9%
Rights	0.0%		Software	8%
Escrow Interests	0.0%		Interactive Media and Services	7%
Short-Term Investments	0.6%		Banks	5%
Other Assets and Liabilities	(0.3)%		Oil, Gas and Consumable Fuels	5%

C000226118 [Member]

Avantis U.S. Equity Fund

G Class

AVUNX

This annual shareholder report contains important information about Avantis U.S. Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis U.S. Equity Fund G Class returned 14.23% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 3000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s allocations by capitalizations broadly detracted from relative results. An underweight versus the index in mega-cap stocks, which outperformed, and an overweight in micro-cap stocks, which underperformed, were the main detractors. Overweight positions in large-, mid- and small-cap stocks also detracted from results.
•			The fund’s overweight to companies with the highest profitability and book-to-market traits aided performance.
•			The fund’s sector weightings—a byproduct of the fund’s focus on companies with high profitability and book-to-market traits—broadly contributed. An underweight to the underperforming health care sector was a top contributor. Excluding real estate investment trusts (REITs), which is a strategic rather than tactical decision, also aided results. REITs significantly underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
January 20, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	14.23%	11.87%	1/20/21


Russell 3000	15.84%	12.10%	—

Jan. 20, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 945,531,790

1,607

$ 1,008,207

16.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.7%		Semiconductors and Semiconductor Equipment	9%
Rights	0.0%		Software	8%
Escrow Interests	0.0%		Interactive Media and Services	7%
Short-Term Investments	0.6%		Banks	5%
Other Assets and Liabilities	(0.3)%		Oil, Gas and Consumable Fuels	5%

C000236476 [Member]

Avantis U.S. Large Cap Value Fund

Institutional Class

AVLVX

This annual shareholder report contains important information about Avantis U.S. Large Cap Value Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$16	0.15%

$ 16

0.15%


What were the key factors that affected the fund’s performance?
Avantis U.S. Large Cap Value Fund Institutional Class returned 10.23% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 1000 Value Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s overweight versus the index in companies with the highest combined profitability and book-to-market characteristics, which outperformed, contributed to performance. An underweight to companies with the lowest profitability and book-to-market traits, which underperformed, also lifted results.
•			Sector weightings, a byproduct of the fund’s focus on valuation metrics, contributed to performance overall. An underweight to the underperforming health care sector and an overweight to the outperforming communication services sector were key contributors.
•			Excluding real estate investment trusts (REITs), which is a strategic rather than tactical allocation, also aided performance. REITs underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
June 21, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Institutional Class	10.23%	15.52%	6/21/22

Regulatory Index
Russell 1000	16.24%	20.09%	—

Performance Index
Russell 1000 Value	9.33%	13.40%	—

Jun. 21, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 367,404,149

209

$ 528,709

57.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Oil, Gas and Consumable Fuels	12%
Short-Term Investments	0.9%		Insurance	8%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	6%
			Consumer Staples Distribution & Retail	6%
			Specialty Retail	5%

C000236477 [Member]

Avantis U.S. Large Cap Value Fund

G Class

ALCEX

This annual shareholder report contains important information about Avantis U.S. Large Cap Value Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis U.S. Large Cap Value Fund G Class returned 10.46% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 1000 Value Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the U.S. market, large-cap stocks outperformed small caps, and growth stocks broadly outperformed their value-style counterparts.
•			The fund’s overweight versus the index in companies with the highest combined profitability and book-to-market characteristics, which outperformed, contributed to performance. An underweight to companies with the lowest profitability and book-to-market traits, which underperformed, also lifted results.
•			Sector weightings, a byproduct of the fund’s focus on valuation metrics, contributed to performance overall. An underweight to the underperforming health care sector and an overweight to the outperforming communication services sector were key contributors.
•			Excluding real estate investment trusts (REITs), which is a strategic rather than tactical allocation, also aided performance. REITs underperformed for the period.


Cumulative Performance (based on an initial $10,000 investment)
June 21, 2022 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	10.46%	15.71%	6/21/22

Regulatory Index
Russell 1000	16.24%	20.09%	—

Performance Index
Russell 1000 Value	9.33%	13.40%	—

Jun. 21, 2022

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 367,404,149

209

$ 528,709

57.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.2%		Oil, Gas and Consumable Fuels	12%
Short-Term Investments	0.9%		Insurance	8%
Other Assets and Liabilities	(0.1)%		Interactive Media and Services	6%
			Consumer Staples Distribution & Retail	6%
			Specialty Retail	5%

C000250327 [Member]

Avantis U.S. Small Cap Equity Fund

Institutional Class

AVSCX

This annual shareholder report contains important information about Avantis U.S. Small Cap Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$26	0.25%

$ 26

0.25%


What were the key factors that affected the fund’s performance?
Avantis U.S. Small Cap Equity Fund Institutional Class returned 6.47% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 2000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the small-cap universe, growth stocks broadly outperformed their value-style counterparts.
•			The fund’s allocations by market capitalizations weighed on relative performance. An overweight versus the index in micro-cap companies, which underperformed, was the main detractor.
•			The fund’s overweight to companies with the highest profitability and book-to-market characteristics, which underperformed, detracted from results. An underweight to companies with the lowest combined profitability and book-to-market characteristics, which outperformed, also detracted. But positive results from overweighting companies in the second-highest valuation quartile helped offset some negative effects.
•			Excluding real estate investment trusts (REITs), a strategic rather than tactical decision, aided performance as REITs underperformed. Remaining sector allocations, byproducts of the fund’s focus on valuation metrics, contributed overall, led by an underweight position in the underperforming health care sector.


Cumulative Performance (based on an initial $10,000 investment)
June 20, 2024 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
Institutional Class	6.47%	14.37%	6/20/24

Regulatory Index
Russell 3000	15.84%	16.88%	—

Performance Index
Russell 2000	8.17%	15.81%	—

Jun. 20, 2024

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 106,816,430

1,024

$ 158,188

15.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Banks	18%
Rights	0.0%		Machinery	5%
Short-Term Investments	2.7%		Insurance	4%
Other Assets and Liabilities	(2.5)%		Software	3%
			Oil, Gas and Consumable Fuels	3%

C000250326 [Member]

Avantis U.S. Small Cap Equity Fund

G Class

AVSBX

This annual shareholder report contains important information about Avantis U.S. Small Cap Equity Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis U.S. Small Cap Equity Fund G Class returned 6.70% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 2000 Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the small-cap universe, growth stocks broadly outperformed their value-style counterparts.
•			The fund’s allocations by market capitalizations weighed on relative performance. An overweight versus the index in micro-cap companies, which underperformed, was the main detractor.
•			The fund’s overweight to companies with the highest profitability and book-to-market characteristics, which underperformed, detracted from results. An underweight to companies with the lowest combined profitability and book-to-market characteristics, which outperformed, also detracted. But positive results from overweighting companies in the second-highest valuation quartile helped offset some negative effects.
•			Excluding real estate investment trusts (REITs), a strategic rather than tactical decision, aided performance as REITs underperformed. Remaining sector allocations, byproducts of the fund’s focus on valuation metrics, contributed overall, led by an underweight position in the underperforming health care sector.


Cumulative Performance (based on an initial $10,000 investment)
June 20, 2024 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	6.70%	14.66%	6/20/24

Regulatory Index
Russell 3000	15.84%	16.88%	—

Performance Index
Russell 2000	8.17%	15.81%	—

Jun. 20, 2024

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 106,816,430

1,024

$ 158,188

15.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.8%		Banks	18%
Rights	0.0%		Machinery	5%
Short-Term Investments	2.7%		Insurance	4%
Other Assets and Liabilities	(2.5)%		Software	3%
			Oil, Gas and Consumable Fuels	3%

C000214356 [Member]

Avantis U.S. Small Cap Value Fund

Institutional Class

AVUVX

This annual shareholder report contains important information about Avantis U.S. Small Cap Value Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Institutional Class	$26	0.25%

$ 26

0.25%


What were the key factors that affected the fund’s performance?
Avantis U.S. Small Cap Value Fund Institutional Class returned 6.44% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 2000 Value Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the small-cap universe, growth stocks broadly outperformed their value-style counterparts.
•			The fund’s exclusion of real estate investment trusts (REITs), which is a strategic allocation decision rather than a tactical move, aided relative performance. REITs underperformed for the period.
•			Overall, sector weightings boosted relative performance, led by an underweight versus the index in the underperforming health care sector. Sector weightings are a byproduct of the fund’s focus on companies with high profitability and book-to-market traits.
•			The fund’s focus on companies with the highest combined profitability and book-to-market characteristics weighed on performance. An underweight position in the lowest profitability and book-to-market companies also detracted.


Cumulative Performance (based on an initial $10,000 investment)
December 4, 2019 through August 31, 2025


Average Annual Total Returns
	1 Year	5 Year	Since Inception	Inception Date
Institutional Class	6.44%	19.32%	14.59%	12/4/19

Regulatory Index
Russell 3000	15.84%	14.11%	14.68%	—

Performance Index
Russell 2000 Value	5.83%	13.06%	8.35%	—

Dec. 04, 2019

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 1,208,770,483

681

$ 2,501,419

20.00%


Fund Holdings


Types of Investments in Portfolio (as a % of net assets)		Top Five Industries (as a % of net assets)
Common Stocks	99.0%		Banks	15%
Rights	0.0%		Oil, Gas and Consumable Fuels	9%
Short-Term Investments	1.9%		Specialty Retail	5%
Other Assets and Liabilities	(0.9)%		Energy Equipment and Services	5%
			Insurance	5%

C000226119 [Member]

Avantis U.S. Small Cap Value Fund

G Class

AVCNX

This annual shareholder report contains important information about Avantis U.S. Small Cap Value Fund for the period of September 1, 2024 to August 31, 2025.

annual shareholder report

You can find additional information about the fund at avantisinvestors.com/docs. You can also request this information by contacting us at 1-833-928-2684.

1-833-928-2684

avantisinvestors.com/docs


What were the fund costs for the last year? (based on a hypothetical $10,000 investment)

	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
G Class	$0	0.00%

$ 0

0.00%


What were the key factors that affected the fund’s performance?
Avantis U.S. Small Cap Value Fund G Class returned 6.71% for the reporting period ended August 31, 2025.
The fund seeks long-term capital appreciation. The commentary below refers to the fund’s performance compared to the Russell 2000 Value Index.
•			Against a backdrop of positive corporate earnings results, resilient economic growth and federal tax relief legislation, U.S. stocks broadly rallied for the 12-month period. Stocks advanced despite periodic volatility from tariff policy uncertainty, rising interest rates, geopolitical tensions and persistent inflation. Within the small-cap universe, growth stocks broadly outperformed their value-style counterparts.
•			The fund’s exclusion of real estate investment trusts (REITs), which is a strategic allocation decision rather than a tactical move, aided relative performance. REITs underperformed for the period.
•			Overall, sector weightings boosted relative performance, led by an underweight versus the index in the underperforming health care sector. Sector weightings are a byproduct of the fund’s focus on companies with high profitability and book-to-market traits.
•			The fund’s focus on companies with the highest combined profitability and book-to-market characteristics weighed on performance. An underweight position in the lowest profitability and book-to-market companies also detracted.


Cumulative Performance (based on an initial $10,000 investment)
January 20, 2021 through August 31, 2025


Average Annual Total Returns
	1 Year	Since Inception	Inception Date
G Class	6.71%	12.35%	1/20/21

Regulatory Index
Russell 3000	15.84%	12.10%	—

Performance Index
Russell 2000 Value	5.83%	6.41%	—

Jan. 20, 2021

Updated Performance Information Location [Text Block]

Visit avantisinvestors.com for more recent performance information.

$ 1,208,770,483

681

$ 2,501,419

20.00%