Parnassus Income Funds

01/30/2026 | Press release | Distributed by Public on 01/30/2026 13:13

Prospectus by Investment Company (Form 497)

Parnassus Value Select ETFSM

PRVS

January 30, 2026

Supplement to the Prospectus and Summary Prospectus,

each dated April 28, 2025

Effective January 30, 2026, Mark Zagata, CFA will serve as a Portfolio Manager of the Parnassus Value Select ETFSM with the following changes being made to the prospectus and summary prospectus:

1.

The "Summary Section - Parnassus Value Select ETFSM - Portfolio Manager" section of the prospectus and the "Portfolio Manager" section of the summary prospectus are each hereby amended and restated as follows:

Portfolio Managers

The Portfolio Managers are responsible for the day-to-day management of the Fund's portfolio.

Krishna S. Chintalapalli is a Portfolio Manager of the Parnassus Value Select ETF, and has served as a portfolio manager of the Fund since its inception.

Mark Zagata, CFA, is a Portfolio Manager of the Parnassus Value Select ETF and has served as a portfolio manager of the Fund since January 30, 2026.

For more information, please see "Management of the Funds" in the prospectus and "Portfolio Managers" in the SAI.

2.

The following paragraph is added to the "Management of the Funds" section of the prospectus:

Mark Zagata, CFA, is a Portfolio Manager of the Parnassus Value Select ETF and has served as a portfolio manager of the Fund since January 30, 2026. Mr. Zagata previously served as Director of Equities Research, Portfolio Manager and Securities Analyst of Boston Trust Walden Company, where he was employed from 2008-2026.

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Parnassus Income Funds published this content on January 30, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on January 30, 2026 at 19:13 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]