Calamos Timpani Active SMID Growth ETF (CTAG)

Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings) in equity securities of small and mid-capitalization ("SMID") companies of issuers primarily located in the United States. Equity securities in which the fund invests as a part of its principal investment strategy consist of common stocks and American Depositary Receipts ("ADRs"). It may invest up to 25% of its net assets in foreign securities.