BONDBLOXX USD HIGH YIELD BOND CONSUMER CYCLICALS SECTOR ETF (XHYC) Exchange: NYSE ARCA

TheFund is newly organized, non-diversified and seeks to track the investment results of the ICE Diversified US Cash Pay High Yield ConsumerCyclical Index (the “Index”), which is a rules-based index consisting of U.S. dollar-denominated below investment grade bonds(as determined by ICE Data Indices, LLC or its affiliates (collectively “Index Provider” or “IDI”)) that containsissuers from the consumer cyclicals sector (companies whose performance is generally more closely connected to the business cycle andcurrent economic conditions), including the automotive, leisure, real estate development & management, department stores, andspecialty retail sub-sectors. The performance of securities in this sector, in the aggregate, may exhibit greater volatility in responseto macroeconomic or systematic changes in the overall economy. Below investment grade bonds are commonly referred to as “junk bonds.”The Index is a modified market value-weighted index with a cap on each issuer of 25% of the market capitalization of the Index. Thismeans that Index constituents are capitalization weighted, based on their current amount outstanding, and then adjusted in accordancewith the index methodology detailed below. There is no limit to the number of issues in the Index, but as of September 30,2021, the Index included approximately 316 constituents. The bonds included in the Index are publicly issued in the United States domesticmarket. Because the Index is reconstituted and rebalanced monthly, the components of the Index are likely to change over time. TheIndex is composed of a subset of bonds in the ICE BofA US Cash Pay High Yield Constrained Index (the “Underlying Index”).The Index components are classified into “large cap” and “small cap” categories. Their weightings are then adjustedbased on a capitalization-weighting adjustment formula. See “More Information About the Funds—Index Construction” formore information about the adjustment formula. Asof the date of this prospectus (the “Prospectus”), the bonds eligible for inclusion in the Index include U.S. dollar-denominatedhigh yield corporate bonds, currently in a coupon paying period, that are publicly issued in the U.S. domestic market, and that: (i) areissued by companies having “risk exposure” to countries (i.e., issuers that are subject to the risks of one or moreof these countries as a result of the principal country of domicile of the issuers (as determined by the Index Provider)) that are membersof the FX-G10, which include Australia, Austria, Belgium, Canada, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy,Japan, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, New Zealand, Norway, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland,the U.K. and the U.S. and their respective territories; (ii) have an average rating of below investment grade (ratings from FitchRatings, Inc. (“Fitch”), Moody’s Investors Service, Inc. (“Moody's”) or S&P Global Ratingsare considered; if more than one agency provides a rating, the average rating is attached to the bond); (iii) are registered withthe SEC, exempt from registration at issuance, or offered pursuant to Rule 144A under the Securities Act of 1933, as amended (the “1933 Act”), with or without registration rights; (iv) have at least $250 million of outstanding face value; (v) havean original maturity date of at least 18 months at the time of issuance; (vi) have at least one year to maturity as of the rebalancingdate; and (vii) are issued by companies that each derive at least 50% of their revenues or profits from the ownership, operation,development, construction, management, financing, leasing or sale of consumer cyclical assets. There is no upper limit on the maturityof bonds eligible for inclusion in the Index. For more information regarding the Underlying Index, see “More Information Aboutthe Funds—Underlying Index” below. BIMuses a “passive” or indexing approach to try to achieve the Fund’s investment objective. Unlike many investment companies,the Fund does not try to “outperform” the index it tracks and does not seek temporary defensive positions when markets declineor appear overvalued. Indexingmay eliminate the chance that the Fund will substantially outperform the Index but also may reduce some of the risks of active management,such as poor security selection. Indexing seeks to achieve lower costs and better after-tax performance by aiming to keep portfolio turnoverlow in comparison to actively managed investment companies. BIMuses a representative sampling indexing strategy to manage the Fund. “Representative sampling” is an indexing strategy thatinvolves investing in a representative sample of bonds that collectively has an investment profile similar to that of an applicable underlyingindex. The bonds selected are expected to have, in the aggregate, investment characteristics (based on factors such as market value andsector weightings), fundamental characteristics (such as return variability, duration, maturity, credit ratings and yield) and liquiditymeasures similar to those of an applicable underlying index. The Fund may or may not hold all of the bonds in the Index. Undernormal circumstances, the Fund will invest at least 80% of its net assets (plus the amount of any borrowings for investment purposes)in high-yield, below-investment grade bonds denominated in U.S. dollars of issuers in the consumer cyclicals sector, either directlyor indirectly (e.g., through derivatives).The Fund may also invest up to 20% of its net assets in certain futures, options and swap contracts,U.S. Treasury obligations, U.S. Government obligations, U.S. agency securities, securities of other registered investment companies,cash and cash equivalents, as well as in securities not included in its Index, but which BIM believes will help the Fund track its Index. Anissuer is considered to be in the consumer cyclicals sector if it derives at least 50% of its revenues or profits from the ownership,operation, development, construction, management, financing, leasing or sale of consumer cyclicals assets. TheFund seeks to track the investment results of the Index before fees and expenses of the Fund. TheIndex is sponsored by the Index Provider, which is independent of the Fund and BIM. The Index Provider determines the compositionand relative weightings of the bonds in the Index and publishes information regarding the market value of the Index. IndustryConcentration Policy. The Fund will concentrate its investments (i.e., hold 25% or more of its total assets) in a particularindustry or group of industries to approximately the same extent that the Index is concentrated. For purposes of this limitation, securitiesof the U.S. government (including its agencies and instrumentalities), repurchase agreements collateralized by U.S. government securities,and tax exempt securities of state or municipal governments and their political subdivisions are not considered to be issued by membersof any industry. As of the date of this prospectus, the Index currently holds 25% or more of its assets in the automotive and leisuresub-sectors.