International Concentrated Growth ETF (BGCG)

Please consider a Fund’s objectives, risks (including risk of loss), charges and expenses before investing. For these, see the prospectus and summary prospectus at bailliegifford.com/etfs. Please read these before investing. Securities are offered through Baillie Gifford Funds Services LLC, an affiliate of Baillie Gifford Overseas Limited and a member of FINRA.

Why international?

It’s a hunting ground for rare winners – International markets are a broad and underappreciated hunting ground for exceptional companies. The non-US universe spans many countries, sectors and business models, creating a much wider opportunity set than investors often access through US portfolios alone. A carefully constructed and differentiated international portfolio increases the chance of owning the long-term outliers that have historically created most of the wealth in equities.

The index is not the world – The US represents roughly a quarter of global GDP, yet it accounts for nearly 70 percent of global equity indices (illustrated below), leaving many investors far more concentrated in US equities than in the global economy itself. International investing is not simply about diversification. It is about looking where the market may not yet be paying enough attention.

Global companies present tomorrow’s opportunities – From innovative fintech platforms and leading consumer brands to the semiconductor supply chains powering artificial intelligence, many of the next decade’s most important businesses are being built outside the US. The question is not whether the US will remain important. It is whether investors are looking broadly enough for the next generation of exceptional growth companies.

Why the Baillie Gifford International Concentrated Growth ETF (BGCG)?

Outliers drive outcomes – Equity markets are highly skewed. In one long-run study, less than 1 percent of non-US companies created more than half of the net wealth generated across the entire non-US universe. A tiny minority of businesses can therefore account for a disproportionate share of long-term value creation. This is why active stock selection and position sizing matter.

Managers making real decisions – In a world where most international equity ETFs track an index, our active approach is designed for investors who want a more intentional way to access international growth. We are not trying to own everything. We are trying to identify the rare companies that could become much larger over the next five to ten years, and to own them in meaningful size when conviction is high.

Few genuine high-growth choices – There are not many active international large cap equity ETFs in existence, and there are even fewer genuinely high-growth options among them. BGCG is designed to stand apart: active, concentrated, long-term and focused on exceptional companies rather than benchmark similarity.

Highest-conviction ideas are from outside the US – Our portfolio is built around finding exceptional businesses early and sticking with them as they grow. We look for companies with large and expanding opportunities, durable competitive advantages, ambitious leadership and the potential to compound value over many years.

Concentrated on purpose – Outlier companies are rare, and owning too many lower-conviction holdings can dilute the impact of the companies that matter most. The portfolio will aim to hold fewer than 30 companies, and we expect to invest around half of the ETF in the top 10 positions, reflecting high conviction in our best ideas.

Long term by design – The most rewarding companies rarely travel in a straight line. Volatility is often part of the journey, not proof that the journey is over. Baillie Gifford portfolios have consistently low turnover, often with an average holding period of around five years. We are not trying to trade the news. We think in years, not quarters, and are willing to be patient when the long-term thesis remains intact.

Why Baillie Gifford?

Meet the International Concentrated Growth Team

Risk factors

The Funds are distributed by Baillie Gifford Funds Services LLC. Baillie Gifford Funds Services LLC is registered as a broker-dealer with the SEC, a member of FINRA and is an affiliate of Baillie Gifford Overseas Limited. All information is sourced from Baillie Gifford & Co unless otherwise stated.
As with all ETFs, the value of an investment in the Fund could decline, so you could lose money. 

The most significant risks of an investment in the Baillie Gifford International Concentrated Growth ETF are: Investment Style Risk, Growth Stock Risk, Long-Term Investment Strategy Risk, Non-U.S. Investment Risk and Non-Diversification Risk. The Fund is managed on a bottom up basis and stock selection is likely to be the main driver of investment returns. Returns are unlikely to track the movements of the benchmark. The prices of growth stocks can be based largely on expectations of future earnings and can decline significantly in reaction to negative news. The Fund is managed on a long-term outlook, meaning that the Fund managers look for investments that they think will make returns over a number of years, rather than over shorter time periods. Non-U.S. securities are subject to additional risks, including less liquidity, increased volatility, less transparency, withholding or other taxes and increased vulnerability to adverse changes in local and global economic conditions. There can be less regulation and possible fluctuation in value due to adverse political conditions. The Fund may have a smaller number of holdings with larger positions in each relative to other mutual funds. Other Fund risks include: Asia Risk, China Risk, Conflicts of Interest Risk, Currency Risk, Developed Markets Risk, Emerging Markets Risk, Equity Securities Risk, ESG Risk, ETF Structure Risk, Focused Investment Risk, Geographic Focus Risk, Government and Regulatory Risk, Information Technology Risk, IPO Risk, Large-Capitalization Securities Risk, Liquidity Risk, Market Disruption and Geopolitical Risk, Market Risk, New and Smaller-Sized ETF Risk, Periodic Rebalancing Risk, Risk Model Risk, Service Provider Risk, Settlement Risk, Small-and Medium-Capitalization Securities Risk and Valuation Risk.

Investing in Exchange Traded Funds (ETFs) pose additional risks including that shares trade on an exchange and may trade at a price greater than the NAV (a premium) or less than the NAV (a discount).

Shares bought at a premium may have a greater risk of loss than those bought at a discount. Shares are bought and sold at market price (not NAV) and are not individually redeemable. Shares may only be redeemed directly from the Fund in Creation Units by Authorized Participants (APs). Where an ETF relies on a small number of APs, there is a risk if these APs exit the business or are unable to create or redeem shares. In this situation, Fund shares are more likely to trade at a premium or discount to NAV and could face trading halts.

Although shares are listed for trading on an exchange, there can be no assurance that an active trading market for the shares will develop or be maintained. Investors buying or selling shares in the secondary market may also incur bid-ask spreads, which represent the difference between the highest price a buyer is willing to pay and the lowest price a seller is willing to accept for shares and may widen during periods of market volatility or reduced liquidity.

Brokerage commissions may apply and will reduce returns. The market price of shares may fluctuate in response to changes in the value of the Fund’s holdings, supply and demand for shares and other market factors. 

For more information about these and other risks of an investment in the Fund see “Additional information about principal strategies and risks” in the prospectus.

There can be no assurance that a Fund will achieve its objective.

This communication was produced and approved in May 2026 and has not been updated subsequently. It represents views held at the time of writing and may not reflect current thinking.

This communication contains information on investments which does not constitute independent research. Accordingly, it is not subject to the protections afforded to independent research and Baillie Gifford and its staff may have dealt in the investments concerned.

The images used in this communication are for illustrative purposes only.