NuShares ESG Small-Cap ETF

The fund employs a passive management (or “indexing”) approach, investing primarily in small-capitalization U. S. equity securities that satisfy certain environmental, social and governance (“ESG”) criteria. The fund seeks to track the investments results, before fees and expenses, of the TIAA ESG USA Small-Cap Index. The TIAA ESG USA Small-Cap Index (the “Index”) is primarily composed of equity securities issued by small- capitalization companies listed on U.

S. exchanges. The Index uses a rules-based methodology that seeks to provide investment exposure that generally replicates that of small-cap benchmarks through a portfolio of securities that adhere to predetermined ESG, controversial business involvement and low-carbon screening criteria. The Index is rebalanced on a quarterly basis. It is not possible to invest directly in an index. .