GGZ Gabelli Global Small and Mid Cap Value Trust

Gabelli Funds (“GAMCO”) (OTCQX: GAMI) announced today that it will be the Principal Sponsor of the Morningstar Investment Conference in Chicago for the second consecutive year. Two Portfolio Managers, John Belton and Tony Bancroft, will present at the conference on June 26th and 27th, respectively.

John Belton, CFA, a Managing Director of Growth Equities and Co-Portfolio Manager of the Gabelli Growth Innovators ETF (GGRW) will present at 10:45 am CT on Wednesday June 26th during a session entitled: Investing in Generative AI, Identifying Winners & Separating Hype from Reality. John Belton joined Gabelli as Managing Director for Growth Equities in January 2024.

Lieutenant Colonel G. Anthony (Tony) Bancroft, USMCR, team leader and Portfolio Manager of the Gabelli Commercial Aerospace & Defense ETF (GCAD), will present on Insights on the Commercial Aviation and Defense Spending Landscape at 10:15 am CT on Thursday June 27th. LtCol Bancroft joined Gabelli Funds in 2009 after serving as an F/A-18 Hornet fighter pilot with the United States Marine Corps.

About GCAD The Fund is a non-diversified, open-end management investment company whose primary investment objective is to seek a high level of total return with an emphasis on income. Under normal market conditions, the Fund will invest at least 80%, of its assets in U.S. exchange-listed common and preferred stocks of companies that meet the Fund’s guidelines for aerospace and defense. Your investment in the Fund is not guaranteed and you could lose some or all of the amount you invested. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

About GGRW The Fund is a diversified, open-end management investment company whose primary investment objective is to seek capital appreciation. The Fund will primarily invest in common stocks of companies that are relevant to the Fund’s investment theme of innovation. The Adviser defines “innovation” as the introduction of new technologies, products or services that redefines how businesses operate. The Fund seeks to invest in companies whose prospects for earnings growth remain undervalued. Your investment in the Fund is not guaranteed and you could lose some or all of the amount you invested. The Fund is managed by Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI).

About these ETFs Please read the Prospectus, including the Risk Discussion, carefully (when it becomes available) to understand the attributes and risks of these ETFs before investing.

These ETFs are different from traditional ETFs. Traditional ETFs tell the public what assets they hold each day. These ETFs will not. This may create additional risks for your investment. For example:

• You may have to pay more money to trade the ETFs’ shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
• The price you pay to buy ETF shares on an exchange may not match the value of the ETF’s portfolio. The same is true when you sell shares. These price differences may be greater for these ETFs compared to other ETFs because they provide less information to traders.
• These additional risks may be even greater in challenging or uncertain market conditions.
• The differences between these ETFs and other ETFs may also have advantages. By keeping certain information about the ETFs undisclosed, these ETF may face less risk that other traders can predict or copy their investment strategies. This may improve the ETFs’ performance. If other traders are able to copy or predict the ETFs’ investment strategies, however, this may hurt the ETFs’ performance. For additional information regarding the unique attributes and risks of the ETF, see the ActiveShares prospectus/registration statement.

You should consider the ETFs’ investment objectives, risks, charges and expenses carefully before you invest. The ETFs’ Prospectus is available from G.distributors, LLC, a registered broker-dealer and FINRA member firm, will contain this and other information about the ETFs, and should be read carefully before investing.

Gabelli Funds, LLC is a registered investment adviser with the Securities and Exchange Commission and is a wholly owned subsidiary of GAMCO Investors, Inc. (OTCQX: GAMI)

To obtain a Prospectus, please visit https://www.gabelli.com/funds/etfs or call:

John Ball

914-921-7728

Contact:Janice L. MusselwhiteSenior Vice President(914) 921-7765For further information please visitwww.gabelli.com