BNY
Mellon
ETF
Trust
SEMI-ANNUAL
REPORT
April
30,
2022
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
BNY
Mellon
International
Equity
ETF
BNY
Mellon
Emerging
Markets
Equity
ETF
BNY
Mellon
Core
Bond
ETF
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
BNY
Mellon
High
Yield
Beta
ETF
Contents
The
Funds
Discussion
of
Funds’
Performance
3
Understanding
Your
Fund’s
Expenses
19
Statements
of
Investments
20
Statements
of
Assets
and
Liabilities
115
Statements
of
Operations
118
Statements
of
Changes
in
Net
Assets
121
Financial
Highlights
125
Notes
to
Financial
Statements
133
Information
About
the
Review
and
Renewal
of
Each
Fund’s
Management
and
Sub-Investment
Advisory
Agreements
144
FOR
MORE
INFORMATION
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The
views
expressed
herein
are
current
to
the
date
of
this
report.
These
views
and
the
composition
of
the
funds’
portfolios
are
subject
to
change
at
any
time
based
on
market
and
other
conditions.
Not
FDIC-Insured
•
Not
Bank-Guaranteed
•
May
Lose
Value
3
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
November
1,
2021,
through
April
30,
2022,
as
provided
by
David
France,
CFA,
Todd
Frysinger,
CFA,
Vlasta
Sheremeta,
CFA,
Michael
Stoll,
and
Marlene
Walker
Smith,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Mellon
Investments
Corporation
Market
and
Fund
Performance
Overview
For
the
six-month
period
ending
April
30,
2022,
the
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−11.59%.
1
In
comparison,
the
Morningstar
®
US
Large
Cap
Index
SM
(the
“Index”),
the
fund’s
benchmark,
returned
−11.61%
for
the
same
period.
2,3
Large-cap
equities
lost
ground
during
the
reporting
period
under
pressure
from
increasing
inflation,
tightening
central
bank
policies
and
uncertainties
related
to
Russia’s
invasion
of
Ukraine.
The
difference
in
returns
between
the
fund
and
the
Index
resulted
primarily
from
transaction
costs
and
operating
expenses
that
are
not
reflected
in
Index
results.
The
Fund’s
Investment
Approach
The
fund
seeks
to
match
the
performance
of
the
Index.
To
pursue
its
goal,
the
fund
normally
invests
substantially
all
of
its
assets
in
equity
securities
comprising
the
Index.
The
Index
is
a
float-adjusted,
market
capitalization-weighted
index
designed
to
measure
the
performance
of
U.S.
large-
capitalization
stocks.
The
Index’s
initial
universe
of
eligible
securities
includes
common
stock,
tracking
stock
and
shares
of
real
estate
investment
trusts
(REITs)
issued
by
U.S.
companies
and
traded
on
the
New
York
Stock
Exchange,
NASDAQ
or
NYSE
Market
LLC.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-
trading
days
in
the
preceding
quarter
and
trading
volume
during
the
preceding
six-month
period.
Securities
with
more
than
10
non-trading
days
in
the
preceding
quarter,
or
that
have
a
bottom
25%
liquidity
score,
as
ranked
by
the
Index
provider
based
on
the
preceding
six-month
trading
volume,
are
excluded.
The
remaining
securities
comprise
the
investable
universe.
The
Index
is
composed
of
the
securities
of
companies
whose
cumulative
total
market
capitalization
represents
approximately
the
top
70%
of
the
remaining
securities
comprising
the
investable
universe.
The
Index
rebalances
quarterly
in
March,
June,
September
and
December,
and
reconstitutes
semi-annually
in
June
and
December.
Equities
Decline
as
Inflation
Mounts
Investor
sentiment
started
the
reporting
period
on
a
positive
note,
with
equities
supported
by
economic
recovery
and
the
widespread
availability
of
COVID-19
vaccines
in
the
face
of
the
ongoing
pandemic.
U.S.
large-cap
stocks
rose,
outpacing
small-
and
mid-
cap
shares
as
businesses
reopened,
and
consumer
spending
remained
strong,
while
growth-oriented
stocks
outperformed
their
value-oriented
counterparts
by
a
small
margin.
Swiftly
rising
inflation
began
to
put
a
damper
on
markets
in
early
2022.
Commodity
prices
rose
in
response
to
wage
increases
and
pandemic-related
supply-chain
bottlenecks,
while
government
stimulus
and
accommodative
monetary
policies
continued
to
pressure
prices
as
well.
Inflationary
forces
were
exacerbated
by
the
Russian
invasion
of
Ukraine,
which
heightened
investor
uncertainty
and
drove
U.S.
equities
still
lower.
While
consumer
spending
and
corporate
earnings
remained
positive,
U.S.
GDP
(gross
domestic
product)
declined
in
the
first
quarter
of
the
new
year
in
response
to
supply
shortages,
international
trade
imbalances
and
rising
inflation.
Energy
costs,
already
at
elevated
levels,
spiked
higher,
along
with
prices
of
crucial
agricultural
chemicals
and
industrial
metals.
Value-oriented
shares
held
up
better
than
growth-oriented
equities
as
the
threat
of
rising
interest
rates
from
the
U.S.
Federal
Reserve
(the
“Fed”)
caused
investors
to
question
the
pace
of
future
growth
and
the
relative
value
of
future
earnings.
Financials
Lead
the
Equity
Market
Lower
Financials
stocks
led
the
market
lower
as
the
flattening
yield
curve
cut
into
banks’
net
interest
margins,
detracting
from
profits.
Consumer
discretionary
shares
suffered
due
to
rising
input
prices
and
seemingly
intractable
supply-chain
bottlenecks.
Communications
services
stocks
were
also
subject
to
supply-
chain
disruptions
and
discretionary
spending
constraints.
Information
technology
shares,
which
include
many
of
the
fastest
growing
companies
in
the
Index,
saw
declines
as
investors
discounted
future
earnings
as
measured
against
potentially
higher
interest
rates.
On
the
positive
side,
shares
in
oil
and
natural
gas
exploration
and
production
companies
soared
as
energy
prices
climbed.
Utility
stocks
generated
more
modest
gains
due
to
their
value-oriented
investment
proposition
and
the
ability
of
power
generators
to
insulate
profits
from
rising
input
expenses
by
hedging
energy
costs.
Consumer
staples,
another
value-oriented
sector
that
typically
tends
to
outperform
during
times
of
increasing
economic
stress
and
uncertainty,
gained
ground
as
well.
Replicating
the
Performance
of
the
Index
In
seeking
to
match
the
performance
of
the
Index,
we
do
not
actively
manage
investments
in
response
to
macroeconomic
trends.
We
note,
however,
that
rising
inflation
and
geopolitical
uncertainties
related
to
the
war
in
Ukraine
are
likely
to
pose
challenges
for
equity
investors
for
the
foreseeable
future.
Key
questions
facing
markets
remain:
How
aggressively
the
Fed
will
move
in
raising
interest
rates
to
combat
inflation,
how
quickly
they
will
reduce
their
Treasury
and
mortgage
portfolio,
and
how
effective
their
actions
will
prove
in
avoiding
a
recession
as
they
seek
to
engineer
a
soft
landing
for
the
economy.
While
challenges
clearly
loom
for
equity
markets,
we
also
see
opportunities,
supported
by
persistently
strong
levels
of
consumer
spending
and
corporate
profitability.
We
believe
that,
on
balance,
prospects
for
economic
growth
remain
positive,
if
modest,
for
the
rest
of
2022,
offering
potential
for
a
market
rebound.
As
always,
we
continue
to
monitor
factors
that
affect
the
fund’s
investments.
May
16,
2022
1
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
4
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
Morningstar,
Inc.
—
The
Morningstar
®
US
Large
Cap
Index
SM
is
a
float-
adjusted,
market
capitalization-weighted
index
that
is
designed
to
measure
the
performance
of
U.S.
large-capitalization
stocks.
The
Index’s
initial
universe
of
eligible
securities
includes
common
stock,
tracking
stock
and
shares
of
real
estate
investment
trusts
(REITs)
issued
by
U.S.
companies
and
traded
on
the
New
York
Stock
Exchange,
NASDAQ
or
NYSE
Market
LLC.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-trading
days
in
the
preceding
quarter
and
trading
volume
during
the
preceding
six-month
period.
Securities
with
more
than
10
non-trading
days
in
the
preceding
quarter,
or
that
have
a
bottom
25%
liquidity
score,
as
ranked
by
the
index
provider
based
on
the
preceding
six-month
trading
volume,
are
excluded.
The
remaining
securities
comprise
the
investable
universe.
The
Index
is
composed
of
the
securities
of
companies
whose
cumulative
total
market
capitalization
represents
approximately
the
top
70%
of
the
remaining
securities
comprising
the
investable
universe.
Investors
cannot
invest
directly
in
any
index.
Investors
cannot
invest
directly
in
any
index.
3
Morningstar
®
a
service
mark
of
Morningstar,
Inc.
and
has
been
licensed
for
use
for
certain
purposes
by
the
Adviser.
The
fund
is
not
sponsored,
endorsed,
sold
or
promoted
by
Morningstar,
and
Morningstar
makes
no
representation
regarding
the
advisability
of
investing
in
the
fund.
Equities
are
subject
generally
to
market,
market
sector,
market
liquidity,
issuer
and
investment
style
risks,
among
other
factors,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund's
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
5
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
November
1,
2021,
through
April
30,
2022,
as
provided
by
David
France,
CFA,
Todd
Frysinger,
CFA,
Vlasta
Sheremeta,
CFA,
Michael
Stoll,
and
Marlene
Walker
Smith,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Mellon
Investments
Corporation
Market
and
Fund
Performance
Overview
For
the
six-month
period
ending
April
30,
2022,
the
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−10.94%.
1
In
comparison,
the
Morningstar
®
US
Mid
Cap
Index
SM
(the
“Index”),
the
fund’s
benchmark,
returned
−11.05%
for
the
same
period.
2,3
Mid-cap
equities
lost
ground
during
the
reporting
period
under
pressure
from
increasing
inflation,
tightening
central
bank
policies
and
uncertainties
related
to
Russia’s
invasion
of
Ukraine.
The
difference
in
returns
between
the
fund
and
the
Index
resulted
primarily
from
transaction
costs
and
operating
expenses
that
are
not
reflected
in
Index
results.
The
Fund’s
Investment
Approach
The
fund
seeks
to
match
the
performance
of
the
Index.
To
pursue
its
goal,
the
fund
normally
invests
substantially
all
of
its
assets
in
equity
securities
comprising
the
Index.
The
Index
is
a
float-adjusted,
market
capitalization-weighted
index
designed
to
measure
the
performance
of
U.S.
medium-
capitalization
stocks.
The
Index’s
initial
universe
of
eligible
securities
includes
common
stock,
tracking
stock
and
shares
of
real
estate
investment
trusts
(REITs)
issued
by
U.S.
companies
and
traded
on
the
New
York
Stock
Exchange,
NASDAQ
or
NYSE
Market
LLC.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-
trading
days
in
the
preceding
quarter
and
trading
volume
during
the
preceding
six-month
period.
Securities
with
more
than
10
non-trading
days
in
the
preceding
quarter,
or
that
have
a
bottom
25%
liquidity
score,
as
ranked
by
the
Index
provider
based
on
the
preceding
six-month
trading
volume,
are
excluded.
The
remaining
securities
comprise
the
investable
universe.
The
Index
is
composed
of
the
securities
of
companies
whose
cumulative
total
market
capitalization
falls
approximately
between
the
bottom
10%-30%
of
the
remaining
securities
comprising
the
investable
universe.
The
Index
rebalances
quarterly
in
March,
June,
September
and
December,
and
reconstitutes
semi-annually
in
June
and
December.
Equities
Decline
as
Inflation
Mounts
Investor
sentiment
started
the
reporting
period
on
a
mixed
note.
Large-cap
stocks
rose
as
businesses
reopened,
and
consumer
spending
remained
strong,
while
small-
and
mid-cap
stocks
retreated,
buffeted
by
inflation
concerns.
Inflation-related
fears
deepened
in
early
2022
as
commodity
prices
rose
in
response
to
wage
increases
and
pandemic-related
supply-chain
bottlenecks.
Government
stimulus
and
accommodative
monetary
policies
further
added
to
inflationary
pressures.
Those
pressures
were
exacerbated
by
the
Russian
invasion
of
Ukraine,
which
heightened
investor
uncertainty
and
drove
equites
still
lower.
While
consumer
spending
and
corporate
earnings
remained
positive,
U.S.
GDP
(gross
domestic
product)
declined
in
the
first
quarter
of
the
new
year
in
response
to
supply
shortages,
international
trade
imbalances
and
rising
inflation.
Energy
costs,
already
at
elevated
levels,
spiked
higher,
along
with
prices
of
crucial
agricultural
chemicals
and
industrial
metals.
Value-
oriented
shares
held
up
better
than
growth-oriented
equities
as
the
threat
of
rising
interest
rates
from
the
U.S.
Federal
Reserve
(the
“Fed”)
caused
investors
to
question
the
pace
of
future
growth
and
the
relative
value
of
future
earnings.
Mid-cap
shares
outperformed
their
large-cap
counterparts
in
early
2022,
ending
the
full,
six-month
reporting
period
with
slightly
milder
losses,
as
measured
by
the
Index.
Financials
Lead
the
Equity
Market
Lower
Financials
stocks
led
the
market
lower
as
the
flattening
yield
curve
cut
into
banks’
net
interest
margins,
detracting
from
profits.
Consumer
discretionary
shares
suffered
due
to
rising
input
prices
and
seemingly
intractable
supply-chain
bottlenecks.
Communications
services
stocks
were
also
subject
to
supply-chain
disruptions
and
discretionary
spending
constraints.
Information
technology
shares,
which
include
many
of
the
fastest
growing
companies
in
the
Index,
saw
declines
as
investors
discounted
future
earnings
as
measured
against
potentially
higher
interest
rates.
Pricing
pressures
undermined
industrials,
while
health
care
stocks
saw
declining
revenues
from
pandemic-related
testing
and
immunization.
On
the
positive
side,
shares
in
oil
and
natural
gas
exploration
and
production
companies
soared
as
energy
prices
climbed.
Utility
stocks
generated
more
modest
gains
due
to
their
value-oriented
investment
proposition
and
the
ability
of
power
generators
to
insulate
profits
from
rising
input
expenses
by
hedging
energy
costs.
Materials
companies
were
beneficiaries
of
rising
commodity
prices.
Replicating
the
Performance
of
the
Index
In
seeking
to
match
the
performance
of
the
Index,
we
do
not
actively
manage
investments
in
response
to
macroeconomic
trends.
We
note,
however,
that
rising
inflation
and
geopolitical
uncertainties
related
to
the
war
in
Ukraine
are
likely
to
pose
challenges
for
equity
investors
for
the
foreseeable
future.
Key
questions
facing
markets
remain:
How
aggressively
the
Fed
will
move
in
raising
interest
rates
to
combat
inflation,
how
quickly
they
will
reduce
their
Treasury
and
mortgage
portfolio,
and
how
effective
their
actions
will
prove
in
avoiding
a
recession
as
they
seek
to
engineer
a
soft
landing
for
the
economy.
While
challenges
clearly
loom
for
equity
markets,
we
also
see
opportunities,
supported
by
persistently
strong
levels
of
consumer
spending
and
corporate
profitability.
We
believe
that,
on
balance,
prospects
for
economic
growth
remain
positive,
if
modest,
for
the
rest
of
2022,
offering
potential
for
a
market
rebound.
As
always,
we
continue
to
monitor
factors
that
affect
the
fund’s
investments.
May
16,
2022
1
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
6
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
Morningstar,
Inc.
—
The
Morningstar
®
US
Mid
Cap
Index
SM
is
a
float-adjusted,
market
capitalization-weighted
index
that
is
designed
to
measure
the
performance
of
U.S.
mid-capitalization
stocks.
he
Index’s
initial
universe
of
eligible
securities
includes
common
stock,
tracking
stock
and
shares
of
real
estate
investment
trusts
(REITs)
issued
by
U.S.
companies
and
traded
on
the
New
York
Stock
Exchange,
NASDAQ
or
NYSE
Market
LLC.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-trading
days
in
the
preceding
quarter
and
trading
volume
during
the
preceding
six-month
period.
Securities
with
more
than
10
non-trading
days
in
the
preceding
quarter,
or
that
have
a
bottom
25%
liquidity
score,
as
ranked
by
the
index
provider
based
on
the
preceding
six-month
trading
volume,
are
excluded.
The
remaining
securities
comprise
the
investable
universe.
The
index
is
composed
of
the
securities
of
companies
whose
cumulative
total
market
capitalization
falls
approximately
between
the
bottom
10%-30%
of
the
remaining
securities
comprising
the
investable
universe.
Investors
cannot
invest
directly
in
any
index.
3
Morningstar
®
is
a
service
mark
of
Morningstar,
Inc.
and
has
been
licensed
for
use
for
certain
purposes
by
the
Adviser.
The
fund
is
not
sponsored,
endorsed,
sold
or
promoted
by
Morningstar,
and
Morningstar
makes
no
representation
regarding
the
advisability
of
investing
in
the
fund.
Equities
are
subject
generally
to
market,
market
sector,
market
liquidity,
issuer
and
investment
style
risks,
among
other
factors,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund’s
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
The
prices
of
mid-cap
company
stocks
tend
to
be
more
volatile
than
the
prices
of
large
company
stocks,
mainly
because
these
companies
have
less
established
and
more
volatile
earnings
histories.
They
also
tend
to
be
less
liquid
than
larger
company
stocks.
7
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
November
1,
2021,
through
April
30,
2022,
as
provided
by
David
France,
CFA,
Todd
Frysinger,
CFA,
Vlasta
Sheremeta,
CFA,
Michael
Stoll,
and
Marlene
Walker
Smith,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Mellon
Investments
Corporation
Market
and
Fund
Performance
Overview
For
the
six-month
period
ending
April
30,
2022,
the
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−15.03%.
1
In
comparison,
the
Morningstar
®
US
Small
Cap
Index
SM
(the
“Index”),
the
fund’s
benchmark,
produced
a
return
of
−15.04%
for
the
same
period.
2,3
Small-cap
equities
lost
ground
during
the
reporting
period
under
pressure
from
increasing
inflation,
tightening
central
bank
policies
and
uncertainties
related
to
Russia’s
invasion
of
Ukraine.
The
difference
in
returns
between
the
fund
and
the
Index
resulted
primarily
from
transaction
costs
and
operating
expenses
that
are
not
reflected
in
Index
results.
The
Fund’s
Investment
Approach
The
fund
seeks
to
match
the
performance
of
the
Index.
To
pursue
its
goal,
the
fund
normally
invests
substantially
all
of
its
assets
in
equity
securities
comprising
the
Index.
The
Index
is
a
float-adjusted,
market
capitalization-weighted
index
designed
to
measure
the
performance
of
U.S.
small-
capitalization
stocks.
The
index’s
initial
universe
of
eligible
securities
includes
common
stock,
tracking
stock
and
shares
of
real
estate
investment
trusts
(REITs)
issued
by
U.S.
companies
and
traded
on
the
New
York
Stock
Exchange,
NASDAQ
or
NYSE
Market
LLC.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-
trading
days
in
the
preceding
quarter
and
trading
volume
during
the
preceding
six-month
period.
Securities
with
more
than
10
non-trading
days
in
the
preceding
quarter,
or
that
have
a
bottom
25%
liquidity
score,
as
ranked
by
the
Index
provider
based
on
the
preceding
six-month
trading
volume,
are
excluded.
The
remaining
securities
comprise
the
investable
universe.
The
Index
is
composed
of
the
securities
of
companies
whose
cumulative
total
market
capitalization
represents
approximately
the
bottom
3%-10%
of
the
remaining
securities
comprising
the
investable
universe.
The
Index
rebalances
quarterly
in
March,
June,
September
and
December,
and
reconstitutes
semi-annually
in
June
and
December.
Equities
Decline
as
Inflation
Mounts
Investor
sentiment
started
the
reporting
period
on
a
mixed
note.
Large-cap
stocks
rose
as
businesses
reopened,
and
consumer
spending
remained
strong,
while
small-
and
mid-cap
stocks
retreated,
buffeted
by
inflation
concerns.
Inflation-related
fears
deepened
in
in
early
2022
as
commodity
prices
rose
in
response
to
wage
increases
and
pandemic-related
supply-chain
bottlenecks.
Government
stimulus
and
accommodative
monetary
policies
further
added
to
inflationary
pressures.
Those
pressures
were
exacerbated
by
the
Russian
invasion
of
Ukraine,
which
heightened
investor
uncertainty
and
drove
equites
still
lower.
While
consumer
spending
and
corporate
earnings
remained
positive,
U.S.
GDP
(gross
domestic
product)
declined
in
the
first
quarter
of
the
new
year
in
response
to
supply
shortages,
international
trade
imbalances
and
rising
inflation.
Energy
costs,
already
at
elevated
levels,
spiked
higher,
along
with
prices
of
crucial
agricultural
chemicals
and
industrial
metals.
Value-
oriented
shares
held
up
better
than
growth-oriented
equities
as
the
threat
of
rising
interest
rates
from
the
U.S.
Federal
Reserve
(the
“Fed”)
caused
investors
to
question
the
pace
of
future
growth
and
the
relative
value
of
future
earnings.
Small-cap
shares
significantly
underperformed
their
large-
and
mid-cap
counterparts,
as
measured
by
the
Index.
Information
Technology
Leads
the
Small-Cap
Market
Lower
The
information
technology
sector,
which
includes
many
of
the
fastest
growing
companies
in
the
Index,
saw
shares
decline
as
investors
discounted
future
earnings
as
measured
against
potentially
higher
interest
rates.
Consumer
discretionary
stocks
suffered
due
to
rising
input
prices
and
seemingly
intractable
supply-chain
bottlenecks.
Health
care
companies
saw
declining
revenues
from
pandemic-related
testing
and
immunization,
leading
to
lower
share
prices.
Financials
stocks
lost
ground
as
the
flattening
yield
curve
cut
into
banks’
net
interest
margins,
detracting
from
profits.
On
the
positive
side,
shares
in
oil
and
natural
gas
exploration
and
production
companies
soared
as
energy
prices
climbed.
Utility
stocks
generated
more
modest
gains
due
to
their
value-oriented
investment
proposition
and
the
ability
of
power
generators
to
insulate
profits
from
rising
input
expenses
by
hedging
energy
costs.
Consumer
staples,
another
value-oriented
sector
that
typically
tends
to
outperform
during
times
of
increasing
economic
stress
and
uncertainty,
gained
ground
as
well.
Replicating
the
Performance
of
the
Index
In
seeking
to
match
the
performance
of
the
Index,
we
do
not
actively
manage
investments
in
response
to
macroeconomic
trends.
We
note,
however,
that
rising
inflation
and
geopolitical
uncertainties
related
to
the
war
in
Ukraine
are
likely
to
pose
challenges
for
equity
investors
for
the
foreseeable
future.
Key
questions
facing
markets
remain:
How
aggressively
the
Fed
will
move
in
raising
interest
rates
to
combat
inflation,
how
quickly
they
will
reduce
their
Treasury
and
mortgage
portfolio,
and
how
effective
their
actions
will
prove
in
avoiding
a
recession
as
they
seek
to
engineer
a
soft
landing
for
the
economy.
While
challenges
clearly
loom
for
equity
markets,
we
also
see
opportunities,
supported
by
persistently
strong
levels
of
consumer
spending
and
corporate
profitability.
We
believe
that,
on
balance,
prospects
for
economic
growth
remain
positive,
if
modest,
for
the
rest
of
2022,
offering
potential
for
a
market
rebound.
As
always,
we
continue
to
monitor
factors
that
affect
the
fund’s
investments.
May
16,
2022
1
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
8
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
Morningstar,
Inc.
—
The
Morningstar
®
US
Small
Cap
Index
SM
is
a
float-adjusted,
market
capitalization-weighted
index
that
is
designed
to
measure
the
performance
of
U.S.
small-capitalization
stocks.
he
Index’s
initial
universe
of
eligible
securities
includes
common
stock,
tracking
stock
and
shares
of
real
estate
investment
trusts
(REITs)
issued
by
U.S.
companies
and
traded
on
the
New
York
Stock
Exchange,
NASDAQ
or
NYSE
Market
LLC.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-trading
days
in
the
preceding
quarter
and
trading
volume
during
the
preceding
six-month
period.
Securities
with
more
than
10
non-trading
days
in
the
preceding
quarter,
or
that
have
a
bottom
25%
liquidity
score,
as
ranked
by
the
index
provider
based
on
the
preceding
six-month
trading
volume,
are
excluded.
The
remaining
securities
comprise
the
investable
universe.
The
Index
is
composed
of
the
securities
of
companies
whose
cumulative
total
market
capitalization
represents
approximately
the
bottom
3%-10%
of
the
remaining
securities
comprising
the
investable
universe.
Investors
cannot
invest
directly
in
any
index.
3
Morningstar®
is
a
service
mark
of
Morningstar,
Inc.
and
has
been
licensed
for
use
for
certain
purposes
by
the
Adviser.
The
fund
is
not
sponsored,
endorsed,
sold
or
promoted
by
Morningstar,
and
Morningstar
makes
no
representation
regarding
the
advisability
of
investing
in
the
fund.
Equities
are
subject
generally
to
market,
market
sector,
market
liquidity,
issuer
and
investment
style
risks,
among
other
factors,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund’s
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
The
prices
of
small
company
stocks
tend
to
be
more
volatile
than
the
prices
of
large
company
stocks,
mainly
because
these
companies
have
less
established
and
more
volatile
earnings
histories.
They
also
tend
to
be
less
liquid
than
larger
company
stocks.
9
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
November
1,
2021,
through
April
30,
2022,
as
provided
by
David
France,
CFA,
Todd
Frysinger,
CFA,
Vlasta
Sheremeta,
CFA,
Michael
Stoll,
and
Marlene
Walker
Smith,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Mellon
Investments
Corporation
Market
and
Fund
Performance
Overview
For
the
six-month
period
ending
April
30,
2022,
the
BNY
Mellon
International
Equity
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−10.69%.
1
This
compares
with
a
−10.71%
total
return
for
the
fund’s
benchmark,
the
Morningstar
®
Developed
Markets
ex-US
Large
Cap
Index
SM
(the
“Index”),
during
the
same
period.
2,3
International
equities
lost
ground
during
the
reporting
period
under
pressure
from
increasing
inflation,
tightening
central
bank
policies
and
uncertainties
related
to
Russia’s
invasion
of
Ukraine.
The
difference
in
returns
between
the
fund
and
the
Index
resulted
primarily
from
transaction
costs
and
operating
expenses
that
are
not
reflected
in
Index
results.
The
Fund’s
Investment
Approach
The
fund
seeks
to
track
the
performance
of
the
Index.
To
pursue
its
goal,
the
fund
normally
invests
substantially
all
of
its
assets
in
equity
securities
comprising
the
Index,
depositary
receipts
based
on
securities
comprising
the
Index,
exchange-traded
funds
(ETFs)
providing
exposure
to
such
securities,
and
derivatives
with
economic
characteristics
similar
to
such
securities
or
the
Index.
The
fund’s
derivatives
investments
may
include
futures,
currency
forwards,
total
return
swaps
and
structured
notes.
The
Index
is
a
float-adjusted,
market
capitalization-weighted
index
designed
to
measure
the
performance
of
developed-
market
(excluding
the
United
States)
large-capitalization
stocks.
The
Index’s
initial
universe
of
eligible
securities
includes
equity
securities
(including
common
stock,
preferred
stock
and
shares
of
real
estate
investment
trusts
(REITs)),
issued
by
developed-
market
companies
(excluding
the
United
States)
and
traded
on
a
major
foreign
exchange.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-trading
days,
trading
volume
and
turnover
during
the
preceding
six-month
period,
and
market
capitalization.
The
Index
rebalances
quarterly
in
March,
June,
September
and
December,
and
reconstitutes
semi-annually
in
June
and
December.
Equities
Decline
as
Inflation
Mounts
International
developed-market
equities
encountered
challenging
conditions
from
the
start
of
the
reporting
period
as
inflationary
pressures
put
a
damper
on
markets.
Commodity
prices
rose
in
response
to
wage
increases
and
pandemic-related
supply-chain
bottlenecks,
while
government
stimulus
and
accommodative
monetary
policies
pressured
prices
as
well.
Central
banks
responded
with
increasingly
hawkish
rhetoric
regarding
interest-
rate
increases.
The
Bank
of
England
took
the
lead
in
December
2021
with
a
0.15%
increase
of
the
base
rate
to
0.25%.
That
same
month,
the
U.S.
Federal
Reserve
(the
“Fed”)
announced
its
intention
to
scale
back
its
asset
purchases
earlier
in
2022
than
previously
planned,
and
signaled
a
more
rapid
increase
in
interest
rates
in
the
coming
year.
Inflationary
forces
were
exacerbated
by
the
Russian
invasion
of
Ukraine
in
early
2022.
As
the
largest
land
war
in
Europe
since
World
War
II
continued
with
no
sign
of
an
early
resolution,
European
markets
began
contemplating
the
possibility
of
reduced
or
curtailed
oil
and
natural
gas
exports
from
Russia,
a
leading
source
of
energy
commodities
to
the
continent.
Energy
costs,
already
at
elevated
levels,
spiked
higher,
along
with
prices
of
crucial
agricultural
chemicals
and
industrial
metals.
Stocks
in
energy
producers
surged
along
with
oil
and
gas
prices,
while
some
other
sectors,
such
as
utilities
and
materials,
produced
more
modest
gains.
However,
growth-oriented
shares
suffered
as
the
threat
of
rising
interest
rates
caused
investors
to
question
the
pace
of
future
growth
and
the
relative
value
of
future
earnings.
Information
technology,
industrials
and
consumer
discretionary
stocks
experienced
the
most
significant
declines,
and
most
other
sectors
lost
ground
as
well.
Western
Europe
and
Asia
Underperform
the
UK
From
a
regional
perspective,
Western
European
stocks
broadly
lost
ground
due
to
the
region’s
proximity
to
the
Russia/Ukraine
conflict
and
its
dependence
on
Russian
energy
exports.
The
Netherlands,
Germany,
Italy
and
France
were
hit
particularly
hard
by
the
impact
of
the
war
on
their
domestic
economies.
Most
Asian
markets
declined
as
well.
Japan
saw
its
currency
decline
as
the
country
continued
to
experience
long-standing
structural
difficulties
caused
by
its
aging
population
and
anemic
growth
rate.
Hong
Kong
and
South
Korea
were
negatively
affected
by
the
prevailing,
global
inflationary
environment
and
by
their
proximity
and
economic
ties
to
China,
which
experienced
sharply
slowing
economic
growth
due
to
extensive
COVID-19
lockdowns
and
government
regulatory
crackdowns
on
several
key
industries.
Conversely,
the
UK
market
provided
the
developed
international
market’s
best
equity
returns,
generating
modest
gains.
UK
equities
benefited
from
the
nation’s
post-Brexit
economic
insulation
from
Europe
and
from
its
early
start
on
raising
interest
rates,
which
put
it
on
track
to
deal
more
effectively
with
global
inflationary
trends.
The
country’s
North
Sea
oil
resources
added
to
its
economic
resilience
at
a
time
of
rapidly
rising
petroleum
prices.
While
equity
markets
declined
mildly
in
Canada
and
Australia,
these
two
commodity-exporting
developed
nations
outperformed
most
of
the
world’s
other
developed
equity
markets.
Replicating
the
Performance
of
the
Index
In
seeking
to
match
the
performance
of
the
Index,
we
do
not
actively
manage
investments
in
response
to
macroeconomic
trends.
We
note,
however,
that
rising
inflation
and
geopolitical
uncertainties
related
to
the
war
in
Ukraine
are
likely
to
pose
challenges
for
equity
investors
for
the
foreseeable
future.
Key
questions
facing
markets
include
how
aggressively
central
banks
will
raise
interest
rates
to
combat
inflation,
and
how
effective
their
actions
will
prove
in
avoiding
a
global
recession.
European
10
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
nations
confront
the
additional
problem
of
replacing
supplies
and
infrastructure
as
the
continent
moves
toward
a
full
energy
embargo
on
Russia,
posing
the
European
Central
Bank
with
a
particularly
difficult
challenge.
On
the
other
hand,
an
inflationary
environment
may
offer
a
hopeful
sign
for
Japan’s
stubbornly
persistent
deflationary
cycle,
while
commodity
exporters,
such
as
the
UK,
Canada
and
Australia
are
likely
to
continue
to
derive
benefits
from
high
commodity
prices.
Accordingly,
we
see
selective
opportunities
for
economic
growth
and
equity
appreciation
for
the
rest
of
2022.
As
always,
we
continue
to
monitor
factors
that
affect
the
fund’s
investments.
May
16,
2022
1
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
Morningstar
Inc.
—
The
Morningstar
®
Developed
Markets
ex-US
Large
Cap
Index
SM
is
a
float-adjusted,
market
capitalization-weighted
index
designed
to
measure
the
performance
of
developed-market
(excluding
the
United
States)
large-capitalization
stocks.
A
country
is
considered
developed
if
it
meets
the
following
criteria:
(i)
its
annual
per
capita
gross
national
income
falls
in
the
World
Bank’s
high-income
category
for
the
most
recent
three
years;
(ii)
it
has
not
had
any
broad-based
discriminatory
controls
against
non-domiciled
investors
for
the
most
recent
three
years;
and
(iii)
its
stock
markets
exhibit
the
following
characteristics:
transparency,
market
regulation,
operational
efficiency,
and
the
absence
of
broad-based
investment
restrictions.
The
Index’s
initial
universe
of
eligible
securities
includes
equity
securities
(including
common
stock,
preferred
stock
and
shares
of
real
estate
investment
trusts
(REITs)),
issued
by
developed-market
companies
(excluding
the
United
States)
and
traded
on
a
major
foreign
exchange.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-trading
days,
trading
volume
and
turnover
during
the
preceding
six-month
period,
and
market
capitalization.
Securities
not
previously
part
of
the
last
reconstitution
are
excluded
from
a
current
reconstitution
if
the
security
has
20
or
more
non-trading
days
during
the
last
six
months
or
their
trading
volume
and
turnover
ranks
in
the
bottom
25%
of
the
initial
universe
as
determined
by
the
Index
provider
based
on
the
preceding
six
months
of
trade
data.
Securities
previously
part
of
the
last
reconstitution
are
provided
a
one-time
buffer
and
not
excluded
unless
the
security
has
30
or
more
non-trading
days
(20
or
more
non-trading
days
after
the
one-time
buffer)
during
the
last
six
months
or
their
trading
volume
and
turnover
ranks
in
the
bottom
20%
(bottom
25%
after
the
one-time
buffer)
of
the
initial
universe
as
determined
by
the
Index
provider
based
on
the
preceding
six
months
of
trade
data.
Of
the
remaining
securities,
the
Index
includes
large
capitalization
securities
from
each
eligible
country,
targeting
the
top
70%
of
stocks
by
market
capitalization
from
each
eligible
country.
Investors
cannot
invest
directly
in
any
index.
3
Morningstar
®
is
a
service
mark
of
Morningstar,
Inc.
and
has
been
licensed
for
use
for
certain
purposes
by
the
Adviser.
The
fund
is
not
sponsored,
endorsed,
sold
or
promoted
by
Morningstar,
and
Morningstar
makes
no
representation
regarding
the
advisability
of
investing
in
the
fund.
Equities
are
subject
generally
to
market,
market
sector,
market
liquidity,
issuer
and
investment
style
risks,
among
other
factors,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund’s
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
Currencies
are
subject
to
the
risk
that
those
currencies
will
decline
in
value
relative
to
a
local
currency,
or,
in
the
case
of
hedged
positions,
that
the
local
currency
will
decline
relative
to
the
currency
being
hedged.
Each
of
these
risks
could
increase
the
fund’s
volatility.
Investing
in
foreign-denominated
and/or
domiciled
securities
involves
special
risks,
including
changes
in
currency
exchange
rates,
political,
economic
and
social
instability,
limited
company
information,
differing
auditing
and
legal
standards
and
less
market
liquidity.
These
risks
generally
are
greater
with
emerging-market
countries.
Diversification
cannot
assure
a
profit
or
protect
against
loss.
The
fund
may,
but
is
not
required,
to
use
derivative
instruments.
A
small
investment
in
derivatives
could
have
a
potentially
large
impact
on
the
fund’s
performance.
The
use
of
derivatives
involves
risks
different
from,
or
possibly
greater
than,
the
risks
associated
with
investing
directly
in
the
underlying
assets.
11
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
November
1,
2021,
through
April
30,
2022,
as
provided
by
David
France,
CFA,
Todd
Frysinger,
CFA,
Vlasta
Sheremeta,
CFA,
Michael
Stoll,
and
Marlene
Walker
Smith,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Mellon
Investments
Corporation
Market
and
Fund
Performance
Overview
For
the
six-month
period
ending
April
30,
2022,
the
BNY
Mellon
Emerging
Markets
Equity
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−12.93%.
1
In
comparison,
the
Morningstar
®
Emerging
Markets
Large
Cap
Index
SM
(the
“Index”),
the
fund’s
benchmark,
returned
-
13.03%
for
the
same
period.
2,3
Emerging
markets
lost
ground
during
the
reporting
period
under
pressure
from
slowing
Chinese
economic
growth,
increasing
inflation
and
uncertainties
related
to
Russia’s
invasion
of
Ukraine.
The
difference
in
returns
between
the
fund
and
the
Index
resulted
primarily
from
transaction
costs
and
operating
expenses
that
are
not
reflected
in
Index
results.
The
Fund’s
Investment
Approach
The
fund
seeks
to
track
the
performance
of
the
Index.
To
pursue
its
goal,
the
fund
normally
invests
substantially
all
of
its
assets
in
equity
securities
comprising
the
Index,
depositary
receipts
based
on
securities
comprising
the
Index,
exchange-traded
funds
(ETFs)
providing
exposure
to
such
securities,
and
derivatives
with
economic
characteristics
similar
to
such
securities
or
the
Index.
The
fund’s
derivatives
investments
may
include
futures,
currency
forwards,
total
return
swaps
and
structured
notes.
The
Index
is
a
float-adjusted,
market
capitalization-weighted
index
designed
to
measure
the
performance
of
emerging-
market,
large-capitalization
stocks.
The
Index’s
initial
universe
of
eligible
securities
includes
equity
securities
(including
common
stock,
preferred
stock
and
shares
of
real
estate
investment
trusts
(REITs)),
issued
by
emerging-market
companies
and
traded
on
a
major
foreign
exchange.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-trading
days,
trading
volume
and
turnover
during
the
preceding
six-month
period,
and
market
capitalization.
The
Index
rebalances
quarterly
in
March,
June,
September
and
December,
and
reconstitutes
semi-annually
in
June
and
December.
China
and
Russia
Lead
Markets
Lower
In
terms
of
absolute
returns,
the
Russian
market
suffered
the
most
serious
losses
globally
after
the
country
invaded
Ukraine,
and
western
sanctions
halted
trading
in
many
Russian
equities.
However,
steep
declines
in
the
vast
Chinese
market
had
the
greatest
impact
on
the
overall
performance
of
the
Index.
Chinese
economic
growth
slowed
under
pressure
from
intrusive
government
regulation
in
technology,
education
and
real
estate.
Starting
in
late
2020,
the
crackdowns
on
these
industries
were
initiated
at
different
times
and
for
different
stated
reasons,
largely
related
to
curbing
corruption,
reducing
financial
leverage
and
promoting
various
government-supported
values.
Nevertheless,
the
net
effect
was
a
marked
deceleration
in
Chinese
economic
growth.
The
economic
slowdown
was
exacerbated
by
clusters
of
COVID-19
outbreaks
in
China
that
led
to
widespread,
total
lockdowns
in
Shanghai
and
other
areas
throughout
the
country.
As
a
result,
in
March
2022,
supply-chain
bottlenecks
worsened,
and
Chinese
manufacturing
and
services
contracted
for
the
first
time
since
the
height
of
the
pandemic.
While
the
impact
of
these
developments
was
most
directly
felt
in
the
Chinese
equity
market,
other
Asian
market
were
negatively
affected
as
well
due
to
their
economic
and
political
links
to
China.
Emerging
markets
were
also
impacted
by
the
increasing
inflationary
pressures
felt
throughout
the
world
as
a
result
of
pandemic-related
government
stimulus
and
rising
commodity
prices.
Inflationary
forces
were
exacerbated
by
the
Russian
invasion
of
Ukraine,
which
heightened
investor
uncertainty.
Energy
costs,
already
at
elevated
levels,
spiked
higher,
along
with
prices
of
crucial
agricultural
chemicals
and
industrial
metals.
This
environment
favored
the
equity
markets
of
commodity-
exporting
nations,
such
as
Brazil,
Saudi
Arabia
and
the
United
Arab
Emirates.
Growth-Oriented
Shares
Underperform
From
a
sector
perspective,
growth-oriented
stocks
tended
to
underperform
as
investors
grew
concerned
about
the
pace
of
future
growth
and
the
value
of
future
earnings
as
measured
against
potentially
higher
interest
rates.
The
information
technology
sector,
which
includes
many
of
the
fastest
growing
companies
in
the
Index,
saw
the
sharpest
declines.
Communications
services
stocks
were
subject
to
supply-chain
disruptions
and
discretionary
spending
constraints.
Consumer
discretionary
shares
suffered
due
to
rising
input
prices
and
seemingly
intractable
supply-chain
bottlenecks.
Investors
tended
to
favor
value-oriented
stocks
with
steady,
non-discretionary
revenues.
Utility
stocks
outperformed
due
to
their
value-oriented
investment
profile
and
the
ability
of
power
generators
to
insulate
profits
from
rising
input
expenses
by
hedging
energy
costs.
Real
estate
stocks
benefited
from
the
relaxation
of
pandemic-related
restrictions
and
a
return
of
in-
person
shopping
and
business
practices.
Industrials
delivered
relatively
strong
performance
despite
supply-chain
disruptions
as
infrastructure
spending
increased.
Replicating
the
Performance
of
the
Index
In
seeking
to
match
the
performance
of
the
Index,
we
do
not
actively
manage
investments
in
response
to
macroeconomic
trends.
We
note,
however,
that
China’s
economic
difficulties,
rising
inflation
and
geopolitical
uncertainties
related
to
the
war
in
Ukraine
are
likely
to
pose
challenges
for
emerging-market
equity
investors
for
the
foreseeable
future.
Key
questions
facing
markets
include
how
China’s
regulatory
regime
will
react
to
the
country’s
slowing
growth,
how
effectively
developed
nations
with
greater
resources
will
act
to
curb
inflation,
and
how
Russia’s
invasion
of
Ukraine
will
progress.
On
the
positive
side,
China’s
supply-chain
problems
may
prompt
developed
nations
to
look
elsewhere
for
manufacturing
alternatives,
which
may
bode
well
for
other
emerging
Asian
markets.
In
addition,
commodity
exporters
are
likely
to
continue
to
derive
benefits
from
high
commodity
prices.
12
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
Accordingly,
we
see
selective
opportunities
for
economic
growth
and
equity
appreciation
for
the
rest
of
2022.
As
always,
we
continue
to
monitor
factors
that
affect
the
fund’s
investments.
May
16,
2022
1
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
Morningstar
Inc.
—
The
Morningstar
®
Emerging
Markets
Large
Cap
Index
SM
is
a
float-adjusted,
market
capitalization-weighted
index
designed
to
measure
the
performance
of
emerging-market,
large-capitalization
stocks.
A
country
is
considered
emerging
if:
(i)
its
annual
per
capita
gross
national
income
does
not
fall
in
the
World
Bank’s
high
income
category
for
the
most
recent
three
years;
(ii)
it
has
had
broad-based
discriminatory
controls
against
non-domiciled
investors
during
the
most
recent
three
years;
and
(iii)
its
stock
markets
do
not
exhibit
any
of
the
following
characteristics:
transparency,
market
regulation,
operational
efficiency,
and
the
absence
of
broad-based
investment
restrictions.
The
index’s
initial
universe
of
eligible
securities
includes
equity
securities
(including
common
stock,
preferred
stock
and
shares
of
real
estate
investment
trusts
(REITs)),
issued
by
emerging
market
companies
and
traded
on
a
major
foreign
exchange.
At
each
reconstitution,
the
initial
universe
is
screened
to
exclude
securities
based
on
the
number
of
non-trading
days,
trading
volume
and
turnover
during
the
preceding
six-month
period,
and
market
capitalization.
Securities
not
previously
part
of
the
last
reconstitution
are
excluded
from
a
current
reconstitution
if
the
security
has
20
or
more
non-trading
days
during
the
last
six
months
or
their
trading
volume
and
turnover
ranks
in
the
bottom
25%
of
the
initial
universe
as
determined
by
the
index
provider
based
on
the
preceding
six
months
of
trade
data.
Securities
previously
part
of
the
last
reconstitution
are
provided
a
one-time
buffer
and
not
excluded
unless
the
security
has
30
or
more
non-trading
days
(20
or
more
non-trading
days
after
the
one-time
buffer)
during
the
last
six
months
or
their
trading
volume
and
turnover
ranks
in
the
bottom
20%
(bottom
25%
after
the
one-time
buffer)
of
the
initial
universe
as
determined
by
the
index
provider
based
on
the
preceding
six
months
of
trade
data.
Of
the
remaining
securities,
the
Index
includes
large-capitalization
securities
from
each
eligible
country,
targeting
the
top
70%
of
stocks
by
market
capitalization
from
each
eligible
country.
Investors
cannot
invest
directly
in
any
index.
3
Morningstar
®
is
a
service
mark
of
Morningstar,
Inc.
and
has
been
licensed
for
use
for
certain
purposes
by
the
Adviser.
The
fund
is
not
sponsored,
endorsed,
sold
or
promoted
by
Morningstar,
and
Morningstar
makes
no
representation
regarding
the
advisability
of
investing
in
the
fund.
Equities
are
subject
generally
to
market,
market
sector,
market
liquidity,
issuer
and
investment
style
risks,
among
other
factors,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund’s
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
Emerging
markets
tend
to
be
more
volatile
than
the
markets
of
more
mature
economies
and
generally
have
less
diverse
and
less
mature
economic
structures
and
less
stable
political
systems
than
those
of
developed
countries.
The
securities
of
companies
located
in
emerging
markets
are
often
subject
to
rapid
and
large
changes
in
price.
An
investment
in
this
fund
should
be
considered
only
as
a
supplement
to
a
complete
investment
program
for
those
investors
willing
to
accept
the
greater
risks
associated
with
investing
in
emerging-market
countries.
Investing
internationally
involves
special
risks,
including
changes
in
currency
exchange
rates,
political,
economic,
and
social
instability,
a
lack
of
comprehensive
company
information,
differing
auditing
and
legal
standards
and
less
market
liquidity.
These
risks
generally
are
greater
with
emerging-market
countries
than
with
more
economically
and
politically
established
foreign
countries.
The
fund
may,
but
is
not
required
to,
use
derivative
instruments.
A
small
investment
in
derivatives
could
have
a
potentially
large
impact
on
the
fund’s
performance.
The
use
of
derivatives
involves
risks
different
from,
or
possibly
greater
than,
the
risks
associated
with
investing
directly
in
the
underlying
assets.
13
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
from
November
1,
2021,
through
April
30,
2022,
as
provided
by
Gregory
A.
Lee,
CFA
and
Nancy
G.
Rogers,
CFA,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Mellon
Investments
Corporation
Market
and
Fund
Performance
Overview
For
the
six-month
period
ended
April
30,
2022,
the
BNY
Mellon
Core
Bond
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−9.54%
(market-based
no-load
return).
1
In
comparison,
the
Bloomberg
US
Aggregate
Total
Return
Index
(the
“Index”)
achieved
a
total
return
of
−9.47%
for
the
same
period.
2,3
Investment-grade,
U.S.
fixed-income
securities
produced
negative
returns
over
the
reporting
period
in
an
environment
of
rising
rates
and
economic
recovery.
Because
the
fund
cannot
hold
all
of
the
securities
in
the
Index,
the
difference
in
returns
between
the
fund
and
the
Index
is
due
primarily
to
sampling
risk,
the
choice
of
securities
selected
to
replicate
the
Index’s
performance.
The
Fund’s
Investment
Approach
To
pursue
its
goal,
the
fund
normally
invests
substantially
all
of
its
assets
in
bonds
comprising
the
Index
and
TBA
transactions
representing
bonds
included
in
the
Index.
The
Index
is
designed
to
measure
the
investment-grade,
U.S.
dollar-denominated,
fixed-rate,
taxable
bond
market.
The
Index
includes
Treasuries,
government-related
and
corporate
securities,
mortgage-
backed
pass-through
securities
(agency
fixed-rate),
commercial
mortgage-backed
securities
(agency
and
non-agency)
and
other
asset-backed
securities
having
at
least
one
year
until
final
maturity.
Treasury,
government-related
and
corporate
securities
must
have
$300
million
or
more
par
amount
outstanding.
For
mortgage-backed
pass-through
securities,
pool
aggregates
must
have
$1
billion
or
more
par
amount
outstanding.
Asset-backed
securities
must
have
a
minimum
deal
size
of
$500
million
and
a
minimum
tranche
size
of
$25
million.
Commercial
mortgage-
backed
securities
must
have
a
minimum
deal
size
of
$500
million
with
at
least
$300
million
outstanding
and
a
minimum
tranche
size
of
$25
million.
To
be
included
in
the
Index,
securities
must
be
rated
investment
grade
(Baa3/BBB-/BBB-
or
higher)
using
the
middle
rating
of
Moody’s,
S&P
and
Fitch.
When
a
rating
from
only
two
agencies
is
available,
the
lower
is
used;
when
only
one
agency
rates
a
bond,
that
rating
is
used.
In
cases
where
explicit
bond
level
ratings
may
not
be
available,
the
index
provider
may
use
other
sources
to
classify
securities
by
credit
quality.
The
Index
may
include
U.S.
dollar-denominated
bonds
issued
by
foreign
issuers.
Securities
in
the
index
are
updated
on
the
last
business
day
of
each
month.
The
fund
seeks
to
maintain
a
dollar-weighted
average
maturity
consistent
with
that
of
the
Index.
Uncertainties
Hinder
the
Market
Fixed-income
markets
posted
a
negative
performance
during
the
reporting
period,
which
was
driven
by
intermittent
concerns
about
the
pandemic,
worries
about
rising
inflation,
Russia’s
invasion
of
Ukraine
and
an
increase
in
the
federal
funds
rate
by
the
Federal
Reserve
(the
“Fed”).
At
the
end
of
2021,
the
fixed-income
market
produced
minimal
returns.
In
addition,
the
Fed
became
more
hawkish
on
inflation,
shifting
from
its
earlier
position
that
higher
rates
of
inflation
were
“transitory.”
It
also
slowed
the
pace
of
its
bond
purchases
and
signaled
it
would
begin
selling
the
Treasuries
on
its
balance
sheet
sometime
in
the
coming
months.
The
end
of
the
2021
period
also
saw
the
pandemic
wax
and
wane
in
intensity,
creating
some
uncertainty
in
the
market.
Inflation
pressures
arising
from
bottlenecks
in
the
global
supply
chain
added
to
concerns
as
well.
Early
in
2022,
concerns
about
the
pandemic
eased
somewhat,
but
fixed-income
markets
experienced
some
volatility
due
at
least
in
part
to
persistent
and
rising
rates
of
inflation.
Russia’s
invasion
of
Ukraine
late
in
February
2022
added
more
uncertainty
to
the
market.
Rising
oil
prices
added
to
pricing
pressures
worldwide.
In
March
2022,
the
Fed
raised
the
federal
funds
target
rate
from
0.25%
to
0.50%.
In
response
to
this
as
well
as
rising
inflation,
bond
yields
rose
across
the
curve,
though
losses
were
largely
due
to
a
large
increase
at
the
short
end
of
the
curve.
While
the
short
end
of
the
curve
steepened,
driven
by
the
yield
on
the
two-year
Treasury,
which
rose
222
basis
points
(bps),
the
two-year
to
30-
year
portion
of
the
curve
flattened.
The
yield
on
the
10-year
Treasury
rose
138
bps
to
2.93%,
and
the
yield
on
the
30-year
Treasury
rose
approximately
100
bps
to
just
under
3.0%.
With
the
increase
in
the
federal
funds
rate,
market
participants
became
concerned
about
whether
the
Fed’s
policy
was
appropriate.
Investors
worried
about
the
Fed’s
ability
to
achieve
a
“soft
landing,”
quelling
inflation
without
producing
a
recession.
While
bond
yields
rose
throughout
the
reporting
period,
corporate
issuance
remained
robust,
possibly
because
corporations
were
concerned
that
even
higher
rates
were
in
store.
A
large
portion
of
the
issuance
occurred
at
the
short-to-intermediate
end
of
the
curve
(one
to
five
years),
and
most
of
it
was
in
the
A
and
BBB
rated
categories.
Corporate
Bonds
Lead
Market
Lower
The
Index
lost
−9.47%,
the
weakest
performance
since
the
1980s,
with
declines
occurring
across
the
board.
The
loss
was
driven
largely
by
corporate
bonds,
which
declined
−12.5%,
while
Treasuries
posted
a
loss
of
−8.34%.
Concerns
about
inflation
and
tightening
monetary
policy
were
largely
responsible
for
the
losses.
The
utilities
industry
performed
worst
in
the
corporate
sector.
The
securitized
sector,
which
makes
up
approximately
30%
of
the
Index,
also
lagged
Treasuries,
falling
−8.59%.
On
the
other
hand,
while
Treasuries
outperformed
corporate
bonds,
in
the
corporate
sector,
the
bonds
in
the
financial
services
industry
performed
best.
In
the
securitized
sector,
asset-backed
securities,
which
tend
to
be
of
shorter
duration,
performed
best.
14
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
Replicating
the
Composition
of
the
Index
As
an
index
fund,
we
attempt
to
match
closely
the
returns
of
the
Index
by
approximating
its
composition
and
credit
quality.
Although
we
do
not
actively
manage
the
fund’s
investments
in
response
to
the
macroeconomic
environment,
we
continue
to
monitor
factors
which
affect
the
fund’s
investments.
May
16,
2022
1
Total
return
includes
reinvestment
of
dividends
and
any
capital
gains
paid.
The
fund’s
return
reflects
the
absorption
of
certain
fund
expenses
by
BNY
Mellon
Investment
Adviser,
Inc.
pursuant
to
an
agreement.
Had
these
expenses
not
been
absorbed,
returns
would
have
been
lower.
Past
performance
is
no
guarantee
of
future
results.
Share
price,
yield
and
investment
return
fluctuate
such
that
upon
redemption,
fund
shares
may
be
worth
more
or
less
than
their
original
cost.
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
Lipper
Inc.
—
The
Bloomberg
US
Aggregate
Total
Return
Index
is
a
broad-
based,
flagship
benchmark
that
measures
the
investment-grade,
U.S.
dollar-denominated,
fixed-rate,
taxable
bond
market.
The
Index
includes
Treasuries,
government-related
and
corporate
securities,
MBS
(agency
fixed-rate
and
hybrid
ARM
pass-throughs),
ABS
and
CMBS
(agency
and
nonagency).
Investors
cannot
invest
directly
in
any
index.
3
Bloomberg®
is
a
trademark
and
service
mark
of
Bloomberg
Finance
L.P.
and
its
affiliates
(collectively,
“Bloomberg”).
Bloomberg
or
Bloomberg’s
licensors
own
all
proprietary
rights
in
the
Bloomberg
Indices.
Bloomberg
is
not
affiliated
with
BNY
Mellon
ETF
Trust,
and
does
not
approve,
endorse,
review
or
recommend
the
fund.
Bloomberg
does
not
guarantee
the
timeliness,
accurateness
or
completeness
of
any
data
or
information
relating
to
the
index,
and
neither
shall
be
liable
in
any
way
to
the
Adviser,
investors
in
the
fund
or
other
third
parties
in
respect
of
the
use
or
accuracy
of
the
index
or
any
data
included
therein.
Bonds
are
subject
generally
to
interest-rate,
credit,
liquidity
and
market
risks,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Generally,
all
other
factors
being
equal,
bond
prices
are
inversely
related
to
interest-rate
changes,
and
rate
increases
can
cause
price
declines.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund’s
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
Indexing
does
not
attempt
to
manage
market
volatility,
use
defensive
strategies,
or
reduce
the
effects
of
any
long-term
periods
of
poor
index
performance.
The
correlation
between
fund
and
Index
performance
may
be
affected
by
the
fund’s
expenses
and
use
of
sampling
techniques,
changes
in
securities
markets,
changes
in
the
composition
of
the
Index,
and
the
timing
of
purchases
and
redemptions
of
fund
shares.
15
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
from
November
1,
2021,
through
April
30,
2022,
as
provided
by
Gregory
A.
Lee,
CFA
and
Nancy
G.
Rogers,
CFA,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Mellon
Investments
Corporation
Market
and
Fund
Performance
Overview
For
the
six-month
period
ended
April
30,
2022,
the
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−5.31%
(market-based,
no-load
return).
1
In
comparison,
the
Bloomberg
US
Corporate
Bond
1-5
Year
Index
(the
“Index”)
achieved
a
total
return
of
−5.24%
for
the
same
period.
2,3
Short-term,
investment-grade
securities
produced
negative
returns
over
the
reporting
period,
in
an
environment
of
rising
long-term
rates
and
inflation.
The
difference
in
returns
between
the
fund
and
the
Index
was
primarily
the
result
of
operating
expenses
that
are
not
reflected
in
the
Index’s
results.
The
Fund’s
Investment
Approach
The
fund
seeks
to
track
the
performance
of
the
Index.
To
pursue
its
goal,
the
fund
normally
invests
substantially
all,
but
at
least
80%,
of
its
assets
in
bonds
comprising
the
Index.
For
bonds,
“duration”
refers
to
an
investment’s
“interest-rate
risk,”
or
how
sensitive
a
bond
may
be
to
changes
in
interest
rates.
For
example,
the
market
price
of
a
fixed-income
security
with
a
duration
of
three
years
would
be
expected
to
decline
3%
if
interest
rates
rose
1%.
Conversely,
the
market
price
of
the
same
security
would
be
expected
to
increase
3%
if
interest
rates
fell
1%.
The
Index
is
designed
to
measure
the
market
for
investment-
grade,
U.S.
dollar-denominated,
fixed-rate,
taxable
corporate
bonds
with
one
to
five
years
left
to
maturity.
To
be
included
in
the
Index,
securities
must
have
$300
million
or
more
par
amount
outstanding
and
be
rated
investment
grade
(Baa3/BBB-/BBB
or
higher)
using
the
middle
rating
of
Moody’s,
S&P
and
Fitch.
When
a
rating
from
only
two
agencies
is
available,
the
lower
is
used;
when
only
one
agency
rates
a
bond,
that
rating
is
used.
In
cases
where
explicit
bond
level
ratings
may
not
be
available,
the
Index
provider
may
use
other
sources
to
classify
securities
by
credit
quality.
The
Index
may
include
U.S.
dollar-denominated
bonds
issued
by
foreign
issuers.
Securities
in
the
Index
are
updated
on
the
last
business
day
of
each
month.
The
fund
seeks
to
maintain
a
dollar-weighted
average
maturity
consistent
with
that
of
the
Index.
Uncertainties
Hinder
the
Market
Fixed-income
markets
posted
a
negative
performance
during
the
reporting
period,
which
was
driven
by
intermittent
concerns
about
the
pandemic,
worries
about
rising
inflation,
Russia’s
invasion
of
Ukraine
and
an
increase
in
the
federal
funds
rate
by
the
Federal
Reserve
(the
“Fed”).
At
the
end
of
2021,
the
fixed-income
market
produced
minimal
returns.
In
addition,
the
Fed
became
more
hawkish
on
inflation,
shifting
from
its
earlier
position
that
higher
rates
of
inflation
were
“transitory.”
It
also
slowed
the
pace
of
its
bond
purchases
and
signaled
it
would
begin
selling
the
Treasuries
on
its
balance
sheet
sometime
in
the
coming
months.
The
end
of
the
2021
period
also
saw
the
pandemic
wax
and
wane
in
intensity,
creating
some
uncertainty
in
the
market.
Inflation
pressures
arising
from
bottlenecks
in
the
global
supply
chain
added
to
concerns
as
well.
Early
in
2022,
concerns
about
the
pandemic
eased
somewhat,
but
fixed-income
markets
experienced
some
volatility
due
at
least
in
part
to
persistent
and
rising
rates
of
inflation.
Russia’s
invasion
of
Ukraine
late
in
February
2022
added
more
uncertainty
to
the
market.
Rising
oil
prices
added
to
pricing
pressures
worldwide.
In
March
2022,
the
Fed
raised
the
federal
funds
target
rate
from
0.25%
to
0.50%.
In
response
to
this
as
well
as
rising
inflation,
bond
yields
rose
across
the
curve,
though
losses
were
largely
due
to
a
large
increase
at
the
short
end
of
the
curve.
While
the
short
end
of
the
curve
steepened,
driven
by
the
yield
on
the
two-year
Treasury,
which
rose
222
basis
points
(bps),
the
two-year
to
30-
year
portion
of
the
curve
flattened.
The
yield
on
the
10-year
Treasury
rose
138
bps
to
2.93%,
and
the
yield
on
the
30-year
Treasury
rose
approximately
100
bps
to
3.0%.
With
the
increase
in
the
federal
funds
rate,
market
participants
became
concerned
about
whether
the
Fed’s
policy
was
appropriate.
Investors
worried
about
the
Fed’s
ability
to
achieve
a
“soft
landing,”
quelling
inflation
without
producing
a
recession.
While
bond
yields
rose
throughout
the
reporting
period,
corporate
issuance
remained
robust,
possibly
because
corporations
were
concerned
that
even
higher
rates
were
in
store.
A
large
portion
of
the
issuance
occurred
at
the
short-to-intermediate
end
of
the
curve
(one
to
five
years),
and
most
of
it
was
in
the
A
and
BBB
rated
categories.
Rising
Treasury
Yields
Drove
Results
The
performance
of
this
short-term,
corporate
bond
fund
relative
to
the
broader
fixed-income
market
was
hindered
primarily
by
the
sharp
rise
in
Treasury
yields.
Although
the
fund
does
not
include
Treasuries,
corporate
bonds
represent
relatively
greater
risk,
so
a
sell-off
in
Treasuries
also
affects
higher-risk
segments
of
the
market.
While
all
sectors
underperformed,
the
financial
sector
lagged
most.
Though
all
sectors
posted
negative
returns,
the
fund’s
shorter
duration
versus
the
broader
market
protected
it
somewhat
from
the
rise
in
longer-term
rates.
Replicating
the
Composition
of
the
Index
As
an
index
fund,
we
attempt
to
match
closely
the
returns
of
the
Index
by
approximating
its
composition
and
credit
quality.
Although
we
do
not
actively
manage
the
fund’s
investments
in
response
to
the
macroeconomic
environment,
we
continue
to
monitor
factors
which
affect
the
fund’s
investments.
May
16,
2022
1
Total
return
includes
reinvestment
of
dividends
and
any
capital
gains
paid.
The
fund’s
return
reflects
the
absorption
of
certain
fund
expenses
by
BNY
Mellon
Investment
Adviser,
Inc.
pursuant
to
an
agreement.
Had
these
expenses
not
been
absorbed,
returns
would
have
been
lower.
Past
performance
is
no
guarantee
of
future
results.
Share
price,
yield
and
16
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
investment
return
fluctuate
such
that
upon
redemption,
fund
shares
may
be
worth
more
or
less
than
their
original
cost.
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
FactSet
—
Bloomberg
US
Corporate
1-5
Years
Total
Return
Index
is
designed
to
measure
the
market
for
investment-grade,
U.S.
dollar-denominated,
fixed-rate,
taxable
corporate
bonds
with
one
to
five
years
left
to
maturity.
To
be
included
in
the
index,
securities
must
have
$300
million
or
more
par
amount
outstanding
and
be
rated
investment
grade
(Baa3/BBB-/BBB-
or
higher)
using
the
middle
rating
of
Moody’s,
S&P
and
Fitch.
When
a
rating
from
only
two
agencies
is
available,
the
lower
is
used;
when
only
one
agency
rates
a
bond,
that
rating
is
used.
In
cases
where
explicit
bond
level
ratings
may
not
be
available,
the
index
provider
may
use
other
sources
to
classify
securities
by
credit
quality.
The
index
may
include
U.S.
dollar-denominated
bonds
issued
by
foreign
issuers.
Investors
cannot
invest
directly
in
any
index.
3
Bloomberg
®
is
a
trademark
and
service
mark
of
Bloomberg
Finance
L.P.
and
its
affiliates
(collectively,
“Bloomberg”).
Bloomberg
or
Bloomberg’s
licensors
own
all
proprietary
rights
in
the
Bloomberg
Indices.
Bloomberg
is
not
affiliated
with
BNY
Mellon
ETF
Trust,
and
does
not
approve,
endorse,
review
or
recommend
the
fund.
Bloomberg
does
not
guarantee
the
timeliness,
accurateness
or
completeness
of
any
data
or
information
relating
to
the
index,
and
neither
shall
be
liable
in
any
way
to
the
Adviser,
investors
in
the
fund
or
other
third
parties
in
respect
of
the
use
or
accuracy
of
the
index
or
any
data
included
therein.
Bonds
are
subject
generally
to
interest-rate,
credit,
liquidity
and
market
risks,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Generally,
all
other
factors
being
equal,
bond
prices
are
inversely
related
to
interest-rate
changes,
and
rate
increases
can
cause
price
declines.
Indexing
does
not
attempt
to
manage
market
volatility,
use
defensive
strategies,
or
reduce
the
effects
of
any
long-term
periods
of
poor
index
performance.
The
correlation
between
fund
and
Index
performance
may
be
affected
by
the
fund’s
expenses
and
use
of
sampling
techniques,
changes
in
securities
markets,
changes
in
the
composition
of
the
Index,
and
the
timing
of
purchases
and
redemptions
of
fund
shares.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund’s
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
17
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
For
the
period
from
November
1,
2021,
through
April
30,
2022,
as
provided
by
Paul
Benson,
CFA,
CAIA,
Manuel
Hayes
and
Stephanie
Shu,
CFA,
Portfolio
Managers
employed
by
the
fund’s
sub-adviser,
Insight
North
America
LLC
Market
and
Fund
Performance
Overview
For
the
six-month
period
ended
April
30,
2022,
the
BNY
Mellon
High
Yield
Beta
ETF
(the
“fund”)
produced
a
net
asset
value
total
return
of
−7.39%.
1
In
comparison,
the
Bloomberg
US
Corporate
High
Yield
Total
Return
Index
(the
“Index”)
achieved
a
total
return
of
−7.41%
for
the
same
period.
2,3
U.S.
high
yield
securities
produced
negative
returns
over
the
reporting
period
in
an
environment
of
rising
inflation
and
bond
yields.
The
Fund’s
Investment
Approach
The
fund
uses
a
rules-based,
systematic
investment
strategy
that
seeks
to
track
an
index
designed
to
measure
the
performance
of
the
high
yield
bond
market.
To
pursue
its
goal,
the
fund
normally
invests
substantially
all,
but
at
least
80%,
of
its
assets
in
bonds
comprising
the
Index.
The
fund
may
also
invest
in
derivatives
with
economic
characteristics
similar
to
such
bonds
or
the
Index.
The
fund’s
derivatives
investments
may
include
credit
default
swap
indexes,
total
return
swaps,
structured
notes
and
futures.
The
Index
is
designed
to
measure
the
U.S.
dollar-denominated,
high
yield
(junk),
fixed-rate,
taxable
corporate
bond
market.
Bonds
included
in
the
Index
must
have
$150
million
or
more
par
amount
outstanding
and
at
least
one
year
until
final
maturity.
Bonds
are
classified
as
high
yield
if
the
middle
rating
of
Moody’s,
Fitch
and
S&P
is
Ba1/BB+/BB+
or
below.
When
a
rating
from
only
two
agencies
is
available,
the
lower
is
used;
when
only
one
agency
rates
a
bond,
that
rating
is
used.
In
cases
where
explicit
bond
level
ratings
may
not
be
available,
the
Index
provider
may
use
other
sources
to
classify
securities
by
credit
quality.
The
Index
may
include
U.S.
dollar-denominated
bonds
issued
by
foreign
issuers.
Securities
in
the
Index
are
updated
on
the
last
business
day
of
each
month.
The
fund
seeks
to
maintain
a
dollar-weighted
average
maturity
consistent
with
that
of
the
Index.
Uncertainties
Hinder
the
Market
Fixed-income
markets
posted
a
negative
performance
during
the
reporting
period,
which
was
driven
by
intermittent
concerns
about
the
pandemic,
worries
about
rising
inflation,
Russia’s
invasion
of
Ukraine
and
an
increase
in
the
federal
funds
rate
by
the
Federal
Reserve
(the
“Fed”).
At
the
end
of
2021,
the
fixed-income
market
produced
minimal
returns.
In
addition,
the
Fed
became
more
hawkish
on
inflation,
shifting
from
its
earlier
position
that
higher
rates
of
inflation
were
“transitory.”
It
also
slowed
the
pace
of
its
bond
purchases
and
signaled
it
would
begin
selling
the
Treasuries
on
its
balance
sheet
sometime
in
the
coming
months.
The
end
of
the
2021
period
also
saw
the
pandemic
wax
and
wane
in
intensity,
creating
some
uncertainty
in
the
market.
Inflation
pressures
arising
from
bottlenecks
in
the
global
supply
chain
added
to
concerns
as
well.
Early
in
2022,
concerns
about
the
pandemic
eased
somewhat,
but
fixed-income
markets
experienced
some
volatility
due
at
least
in
part
to
persistent
and
rising
rates
of
inflation.
Russia’s
invasion
of
Ukraine
late
in
February
2022
added
more
uncertainty
to
the
market.
Rising
oil
prices
added
to
pricing
pressures
worldwide.
In
March
2022,
the
Fed
raised
the
federal
funds
target
rate
from
0.25%
to
0.50%.
In
response
to
this
as
well
as
rising
inflation,
bond
yields
rose
across
the
curve,
though
losses
were
largely
due
to
a
large
increase
at
the
short
end
of
the
curve.
While
the
short
end
of
the
curve
steepened,
driven
by
the
yield
on
the
two-year
Treasury,
which
rose
222
basis
points
(bps),
the
two-year
to
30-
year
portion
of
the
curve
flattened.
The
yield
on
the
10-year
Treasury
rose
138
bps
to
2.93%,
and
the
yield
on
the
30-year
Treasury
rose
approximately
100
bps
to
3.0%.
With
the
increase
in
the
federal
funds
rate,
market
participants
became
concerned
about
whether
the
Fed’s
policy
was
appropriate.
Investors
worried
about
the
Fed’s
ability
to
achieve
a
“soft
landing,”
quelling
inflation
without
producing
a
recession.
While
investment
grade
corporate
issuance
remained
robust,
possibly
because
corporations
were
concerned
that
even
higher
rates
were
in
store,
high
yield
corporate
issuance
was
very
low
relatively
to
the
prior
12
months.
A
large
portion
of
the
investment
grade
issuance
occurred
at
the
short-to-intermediate
end
of
the
curve
(one
to
five
years),
and
most
of
it
was
in
the
A
and
BBB
rated
categories.
Returns
Hindered
by
Rising
Rates
The
fund
was
generally
neutral
versus
the
Index
and
was
able
to
slightly
outperform
the
Index’s
performance
on
a
gross
of
fee
basis
during
this
period,
thus
closely
matching
the
Index
performance
net
of
fees.
Security
selection
contributed
positively
to
the
outperformance,
primarily
due
to
bonds
with
indirect
exposure
to
Russia.
The
bulk
of
the
Index’s
return
was
due
to
the
Treasury
rates-
performance
component,
which
contributed
−5.50%
to
total
returns,
due
largely
to
a
sharp
rise
in
Treasury
yields.
The
five-
year
Treasury
yield
rose
173
bps
over
the
past
six
months
to
finish
the
period
at
2.89%.
The
spread
component
of
the
Index
was
mildly
negative,
contributing
−1.92%
to
the
total
return.
Strong
Fundamentals,
Attractive
Yields
As
an
index
fund,
we
attempt
to
match
closely
the
returns
of
the
Index
by
approximating
its
composition
and
credit
quality.
Although
we
do
not
actively
manage
the
fund’s
investments
in
response
to
the
macroeconomic
environment,
we
continue
to
monitor
factors
which
affect
the
fund’s
investments.
With
the
continued
run-up
in
yields,
U.S.
Treasury
yields
are
now
pricing
in
10
quarter-point
rate
hikes,
with
some
of
the
hikes
now
expected
to
be
50
bps.
High
yield
spreads
over
Treasuries
were
379
bps
as
of
April
30,
2022,
making
the
yield
to
worst
on
the
Index
an
attractive
7.0%.
Fundamentals
are
also
attractive.
Corporate
balance
sheets
continue
to
show
low
leverage
and
high
levels
of
cash,
which
suggests
defaults
are
likely
to
remain
low.
18
DISCUSSION
OF
FUND
PERFORMANCE
(Unaudited)
(continued)
May
16,
2022
1
Total
return
includes
reinvestment
of
dividends
and
any
capital
gains
paid.
The
fund’s
return
reflects
the
absorption
of
certain
fund
expenses
by
BNY
Mellon
Investment
Adviser,
Inc.
pursuant
to
an
agreement.
Had
these
expenses
not
been
absorbed,
returns
would
have
been
lower.
Past
performance
is
no
guarantee
of
future
results.
Share
price,
yield
and
investment
return
fluctuate
such
that
upon
redemption,
fund
shares
may
be
worth
more
or
less
than
their
original
cost.
ETFs
trade
like
stocks,
are
subject
to
investment
risk,
including
possible
loss
of
principal.
ETF
shares
are
listed
on
an
exchange,
and
shares
are
generally
purchased
and
sold
in
the
secondary
market
at
market
price.
At
times,
the
market
price
may
be
at
a
premium
or
discount
to
the
ETF’s
per
share
NAV.
In
addition,
ETFs
are
subject
to
the
risk
that
an
active
trading
market
for
an
ETF’s
shares
may
not
develop
or
be
maintained.
Buying
or
selling
ETF
shares
on
an
exchange
may
require
payment
of
brokerage
commissions.
2
Source:
Lipper
Inc.
—
The
Bloomberg
US
Corporate
High
Yield
Total
Return
Index
is
designed
to
measure
the
U.S.
dollar-denominated,
high
yield
(junk),
fixed-rate,
taxable
corporate
bond
market.
Bonds
included
in
the
Index
must
have
$150
million
or
more
par
amount
outstanding
and
at
least
one
year
until
final
maturity.
Bonds
are
classified
as
high
yield
if
the
middle
rating
of
Moody’s,
Fitch
and
S&P
is
Ba1/BB+/BB+
or
below.
When
a
rating
from
only
two
agencies
is
available,
the
lower
is
used;
when
only
one
agency
rates
a
bond,
that
rating
is
used.
In
cases
where
explicit
bond
level
ratings
may
not
be
available,
the
Index
provider
may
use
other
sources
to
classify
securities
by
credit
quality.
The
Index
may
include
U.S.
dollar-denominated
bonds
issued
by
foreign
issuers.
3
Bloomberg®
is
a
trademark
and
service
mark
of
Bloomberg
Finance
L.P.
and
its
affiliates
(collectively,
“Bloomberg”).
Bloomberg
or
Bloomberg’s
licensors
own
all
proprietary
rights
in
the
Bloomberg
Indices.
Bloomberg
is
not
affiliated
with
BNY
Mellon
ETF
Trust,
and
does
not
approve,
endorse,
review
or
recommend
the
fund.
Bloomberg
does
not
guarantee
the
timeliness,
accurateness
or
completeness
of
any
data
or
information
relating
to
the
index,
and
neither
shall
be
liable
in
any
way
to
the
Adviser,
investors
in
the
fund
or
other
third
parties
in
respect
of
the
use
or
accuracy
of
the
index
or
any
data
included
therein.
Bonds
are
subject
generally
to
interest-rate,
credit,
liquidity
and
market
risks,
to
varying
degrees,
all
of
which
are
more
fully
described
in
the
fund’s
prospectus.
Generally,
all
other
factors
being
equal,
bond
prices
are
inversely
related
to
interest-rate
changes,
and
rate
increases
can
cause
price
declines.
Recent
market
risks
include
pandemic
risks
related
to
COVID-19.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
To
the
extent
the
fund
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
sectors,
such
positions
will
increase
the
fund's
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors.
Indexing
does
not
attempt
to
manage
market
volatility,
use
defensive
strategies,
or
reduce
the
effects
of
any
long-term
periods
of
poor
Index
performance.
The
correlation
between
fund
and
Index
performance
may
be
affected
by
the
fund’s
expenses
and
use
of
sampling
techniques,
changes
in
securities
markets,
changes
in
the
composition
of
the
Index
and
the
timing
of
purchases
and
redemptions
of
fund
shares.
UNDERSTANDING
YOUR
FUND’S
EXPENSES
(Unaudited)
19
As
a
shareholder
of
the
funds,
you
pay
ongoing
expenses,
such
as
management
fees
and
other
expenses.
Using
the
information
below,
you
can
estimate
how
these
expenses
affect
your
investment
and
compare
them
with
the
expenses
of
other
funds.
For
more
information,
see
your
funds’
prospectus
or
talk
to
your
financial
adviser.
Actual
Expenses
The
information
under
each
column
in
the
table
below
entitled
“Actual”
provides
information
about
on
how
much
a
$1,000
investment
would
be
worth
at
the
close
of
the
period,
assuming
net
asset
value
total
returns
and
actual
expenses.
You
may
use
the
information
in
these
columns,
together
with
the
amount
you
invested,
to
estimate
the
expenses
that
you
paid
over
the
period.
Simply
divide
your
account
value
by
$1,000
(for
example,
an
$8,600
account
value
divided
by
$1,000
=
8.6),
then
multiply
the
result
by
the
number
for
your
fund
under
the
heading
entitled
“Expenses
paid
for
the
period”
to
estimate
the
expenses
you
paid
on
your
account
during
this
period.
Hypothetical
Example
For
Comparison
Purposes
The
Securities
and
Exchange
Commission
(“SEC”)
has
established
guidelines
to
help
investors
assess
fund
expenses.
The
information
under
each
column
in
the
table
entitled
“Hypothetical”
provides
information
about
hypothetical
account
values
and
hypothetical
expenses
based
on
each
fund’s
actual
expense
ratio
and
assuming
a
hypothetical
5%
annualized
return,
which
is
not
the
fund’s
actual
return.
The
hypothetical
account
values
and
expenses
may
not
be
used
to
estimate
the
actual
ending
account
balance
or
expenses
you
paid
for
the
period.
You
may
use
this
information
to
compare
the
ongoing
expenses
(but
not
transaction
expenses
or
total
cost)
of
investing
in
the
funds
with
those
of
other
funds.
To
do
so,
compare
this
5%
hypothetical
example
with
the
5%
hypothetical
examples
that
appear
in
the
shareholder
reports
of
the
other
funds.
Please
note
that
the
expenses
shown
in
the
table
are
meant
to
highlight
your
ongoing
costs
only
and
do
not
reflect
any
transactional
costs,
such
as
brokerage
commissions
paid
on
purchases
and
sales
of
fund
shares.
Therefore,
the
ending
account
values
and
expenses
paid
for
the
period
in
the
table
are
useful
in
comparing
ongoing
fund
expenses
(but
not
transaction
expenses
or
total
cost)
of
investing
in
the
funds
with
those
of
other
funds.
In
addition,
if
these
transactional
costs
were
included,
your
costs
would
have
been
higher.
(a)
Expenses
are
calculated
using
the
annualized
expense
ratio,
which
represents
the
ongoing
expenses
as
a
percentage
of
net
assets
for
the
six-month
period
ended
April
30,
2022.
Expenses
are
calculated
by
multiplying
the
fund’s
annualized
expense
ratio
by
the
average
account
value
for
the
period,
then
multiplying
the
result
by
181/365.
For
the
six
months
ended
April
30,
2022
Beginning
account
value
($)
Ending
account
value($)
Expense
paid
for
the
period
($)
Annualized
expense
ratios
for
the
period
(%)
Actual
Hypothetical
Actual
Hypothetical
Actual
(a)
Hypothetical
(a)
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
1,000.00
1,000.00
884.10
1,024.79
0.00
0.00
0.00
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
1,000.00
1,000.00
894.60
1,024.60
0.19
0.20
0.04
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
1,000.00
1,000.00
849.70
1,024.60
0.18
0.20
0.04
BNY
Mellon
International
Equity
ETF
1,000.00
1,000.00
893.10
1,024.60
0.19
0.20
0.04
BNY
Mellon
Emerging
Markets
Equity
ETF
1,000.00
1,000.00
870.70
1,024.25
0.51
0.55
0.11
BNY
Mellon
Core
Bond
ETF
1,000.00
1,000.00
904.60
1,024.79
0.00
0.00
0.00
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
1,000.00
1,000.00
946.90
1,024.50
0.29
0.30
0.06
BNY
Mellon
High
Yield
Beta
ETF
1,000.00
1,000.00
926.10
1,023.70
1.05
1.10
0.22
20
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Description
Shares
Value
($)
Common
Stocks
–
99.8%
Communication
Services
–
9.7%
Activision
Blizzard,
Inc.
12,501
945,076
Alphabet,
Inc.,
Class
A
(a)
4,845
11,057,211
Alphabet,
Inc.,
Class
C
(a)
4,496
10,337,788
AT&T,
Inc.
114,667
2,162,620
Charter
Communications,
Inc.,
Class
A
(a)
2,001
857,408
Comcast
Corp.,
Class
A
72,962
2,900,969
Electronic
Arts,
Inc.
4,584
541,141
Match
Group,
Inc.
(a)
4,490
355,383
Meta
Platforms,
Inc.,
Class
A
(a)
37,227
7,462,897
Netflix,
Inc.
(a)
7,138
1,358,790
Snap,
Inc.,
Class
A
(a)
17,731
504,624
T-Mobile
US,
Inc.
(a)
9,403
1,157,885
Twitter,
Inc.
(a)
12,681
621,623
Verizon
Communications,
Inc.
66,655
3,086,126
Walt
Disney
Co.
(The)
(a)
29,386
3,280,359
46,629,900
Consumer
Discretionary
–
11.8%
Airbnb,
Inc.,
Class
A
(a)
5,415
829,632
Amazon.com,
Inc.
(a)
7,039
17,496,350
Aptiv
PLC
(a)
4,314
459,010
Booking
Holdings,
Inc.
(a)
656
1,449,963
Chipotle
Mexican
Grill,
Inc.,
Class
A
(a)
480
698,693
Dollar
General
Corp.
3,734
886,937
DoorDash
,
Inc.,
Class
A
(a)
2,422
197,224
eBay,
Inc.
10,097
524,236
Ford
Motor
Co.
62,970
891,655
General
Motors
Co.
(a)
23,284
882,696
Home
Depot,
Inc.
(The)
16,766
5,036,506
Lowe's
Cos.,
Inc.
10,996
2,174,239
Lucid
Group,
Inc.
(a)(b)
9,473
171,272
Lululemon
Athletica
,
Inc.
(a)
1,907
676,279
Marriott
International,
Inc.,
Class
A
(a)
4,494
797,775
McDonald's
Corp.
12,066
3,006,365
MercadoLibre
,
Inc.
(a)
757
737,038
Nike,
Inc.,
Class
B
20,747
2,587,151
O'Reilly
Automotive,
Inc.
(a)
1,120
679,336
Rivian
Automotive,
Inc.,
Class
A
(a)(b)
1,363
41,217
Ross
Stores,
Inc.
5,721
570,784
Starbucks
Corp.
18,496
1,380,541
Target
Corp.
7,935
1,814,338
Tesla,
Inc.
(a)
13,482
11,739,586
TJX
Cos.,
Inc.
(The)
19,356
1,186,136
56,914,959
Consumer
Staples
–
6.7%
Altria
Group,
Inc.
29,862
1,659,431
Coca-Cola
Co.
(The)
61,765
3,990,637
Colgate-Palmolive
Co.
13,310
1,025,535
Constellation
Brands,
Inc.,
Class
A
2,739
674,041
Costco
Wholesale
Corp.
7,120
3,785,846
Estee
Lauder
Cos.,
Inc.
(The),
Class
A
3,754
991,281
Keurig
Dr
Pepper,
Inc.
11,880
444,312
Kimberly-Clark
Corp.
5,422
752,736
Kraft
Heinz
Co.
(The)
10,582
451,111
Mondelez
International,
Inc.,
Class
A
22,253
1,434,873
Monster
Beverage
Corp.
(a)
6,265
536,785
PepsiCo,
Inc.
22,243
3,819,346
Philip
Morris
International,
Inc.
24,875
2,487,500
Procter
&
Gamble
Co.
(The)
38,756
6,222,276
Walgreens
Boots
Alliance,
Inc.
12,009
509,182
Walmart,
Inc.
22,539
3,448,242
32,233,134
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Energy
–
3.4%
Chevron
Corp.
31,209
4,889,514
ConocoPhillips
20,763
1,983,282
EOG
Resources,
Inc.
9,520
1,111,555
Exxon
Mobil
Corp.
68,516
5,840,989
Marathon
Petroleum
Corp.
9,596
837,347
Pioneer
Natural
Resources
Co.
3,664
851,770
Schlumberger
NV
22,313
870,430
16,384,887
Financials
–
10.8%
American
Express
Co.
10,101
1,764,746
American
International
Group,
Inc.
12,523
732,721
Aon
PLC,
Class
A
3,621
1,042,812
Bank
of
America
Corp.
115,694
4,127,962
Bank
of
New
York
Mellon
Corp.
(The)
12,689
533,699
Berkshire
Hathaway,
Inc.,
Class
B
(a)
29,346
9,473,769
BlackRock,
Inc.,
Class
A
2,262
1,413,026
Blackstone,
Inc.,
Class
A
11,085
1,125,903
Capital
One
Financial
Corp.
6,661
830,094
Charles
Schwab
Corp.
(The)
23,652
1,568,837
Chubb
Ltd.
6,884
1,421,202
Citigroup,
Inc.
31,972
1,541,370
CME
Group,
Inc.,
Class
A
5,784
1,268,663
Coinbase
Global,
Inc.,
Class
A
(a)
261
29,417
Goldman
Sachs
Group,
Inc.
(The)
5,407
1,651,784
Intercontinental
Exchange,
Inc.
9,198
1,065,220
JPMorgan
Chase
&
Co.
47,583
5,679,507
KKR
&
Co.,
Inc.,
Class
A
9,408
479,526
Marsh
&
McLennan
Cos.,
Inc.
8,197
1,325,455
MetLife,
Inc.
11,571
759,983
Moody's
Corp.
2,598
822,215
Morgan
Stanley
23,387
1,884,758
MSCI,
Inc.,
Class
A
1,298
546,782
PNC
Financial
Services
Group,
Inc.
(The)
6,892
1,144,761
Progressive
Corp.
(The)
9,394
1,008,540
Prudential
Financial,
Inc.
6,405
695,007
S&P
Global,
Inc.
5,631
2,120,072
T
Rowe
Price
Group,
Inc.
3,671
451,680
Travelers
Cos.,
Inc.
(The)
3,949
675,516
Truist
Financial
Corp.
21,455
1,037,349
US
Bancorp
20,848
1,012,379
Wells
Fargo
&
Co.
63,576
2,773,821
52,008,576
Health
Care
–
14.7%
Abbott
Laboratories
28,640
3,250,640
AbbVie,
Inc.
28,680
4,212,518
Agilent
Technologies,
Inc.
4,793
571,661
Align
Technology,
Inc.
(a)
1,171
339,485
Amgen,
Inc.
9,128
2,128,558
Anthem,
Inc.
3,959
1,987,141
Becton,
Dickinson
&
Co.
4,618
1,141,524
Biogen,
Inc.
(a)
2,394
496,611
Boston
Scientific
Corp.
(a)
22,592
951,349
Bristol-Myers
Squibb
Co.
35,590
2,678,859
Cigna
Corp.
5,414
1,336,067
CVS
Health
Corp.
20,956
2,014,500
Danaher
Corp.
10,161
2,551,732
DexCom
,
Inc.
(a)
1,510
616,956
Edwards
Lifesciences
Corp.
(a)
10,065
1,064,676
Eli
Lilly
&
Co.
12,836
3,749,781
Gilead
Sciences,
Inc.
20,502
1,216,589
HCA
Healthcare,
Inc.
3,997
857,556
21
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Health
Care
–
14.7%
(continued)
Humana,
Inc.
2,113
939,355
IDEXX
Laboratories,
Inc.
(a)
1,360
585,453
Illumina,
Inc.
(a)
2,412
715,520
Intuitive
Surgical,
Inc.
(a)
5,739
1,373,343
IQVIA
Holdings,
Inc.
3,060
667,049
Johnson
&
Johnson
42,248
7,624,074
Medtronic
PLC
21,250
2,217,650
Merck
&
Co.,
Inc.
40,815
3,619,882
Moderna
,
Inc.
(a)
5,656
760,223
Pfizer,
Inc.
90,798
4,455,458
Regeneron
Pharmaceuticals,
Inc.
(a)
1,659
1,093,464
Stryker
Corp.
5,395
1,301,598
Thermo
Fisher
Scientific,
Inc.
6,310
3,488,925
UnitedHealth
Group,
Inc.
15,170
7,714,704
Veeva
Systems,
Inc.,
Class
A
2,243
408,114
Vertex
Pharmaceuticals,
Inc.
(a)
4,070
1,112,005
Zoetis,
Inc.,
Class
A
7,561
1,340,187
70,583,207
Industrials
–
6.4%
3M
Co.
8,942
1,289,615
Boeing
Co.
(The)
(a)
8,798
1,309,494
Carrier
Global
Corp.
14,350
549,174
Caterpillar,
Inc.
8,824
1,857,805
Cintas
Corp.
1,442
572,849
CSX
Corp.
35,453
1,217,456
Deere
&
Co.
4,510
1,702,750
Eaton
Corp.
PLC
6,209
900,429
Emerson
Electric
Co.
9,843
887,642
FedEx
Corp.
3,948
784,625
General
Dynamics
Corp.
3,688
872,323
General
Electric
Co.
17,963
1,339,142
Honeywell
International,
Inc.
11,160
2,159,572
Illinois
Tool
Works,
Inc.
4,580
902,764
Johnson
Controls
International
PLC
11,367
680,542
L3Harris
Technologies,
Inc.
3,181
738,819
Lockheed
Martin
Corp.
3,863
1,669,280
Norfolk
Southern
Corp.
3,957
1,020,431
Northrop
Grumman
Corp.
2,359
1,036,545
Raytheon
Technologies
Corp.
24,013
2,279,074
Trane
Technologies
PLC
3,625
507,101
Uber
Technologies,
Inc.
(a)
26,467
833,181
Union
Pacific
Corp.
10,455
2,449,502
United
Parcel
Service,
Inc.,
Class
B
11,510
2,071,570
Waste
Management,
Inc.
6,284
1,033,341
30,665,026
Information
Technology
–
31.2%
Accenture
PLC,
Class
A
10,159
3,051,357
Adobe,
Inc.
(a)
7,649
3,028,622
Advanced
Micro
Devices,
Inc.
(a)
26,433
2,260,550
Amphenol
Corp.,
Class
A
10,090
721,435
Analog
Devices,
Inc.
8,671
1,338,629
Apple,
Inc.
249,860
39,390,429
Applied
Materials,
Inc.
14,176
1,564,322
Autodesk,
Inc.
(a)
3,529
667,969
Automatic
Data
Processing,
Inc.
6,793
1,482,097
Block,
Inc.,
Class
A
(a)
8,152
811,450
Broadcom,
Inc.
6,660
3,692,237
Cadence
Design
Systems,
Inc.
(a)
4,440
669,774
Cisco
Systems,
Inc.
67,907
3,326,085
Cloudflare
,
Inc.,
Class
A
(a)
4,504
387,975
Cognizant
Technology
Solutions
Corp.,
Class
A
8,797
711,677
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Information
Technology
–
31.2%
(continued)
Crowdstrike
Holdings,
Inc.,
Class
A
(a)
3,441
683,933
DocuSign,
Inc.,
Class
A
(a)
3,189
258,309
Fidelity
National
Information
Services,
Inc.
9,296
921,698
Fiserv,
Inc.
(a)
10,077
986,740
Fortinet,
Inc.
(a)
2,111
610,100
Global
Payments,
Inc.
4,496
615,862
Intel
Corp.
65,424
2,851,832
International
Business
Machines
Corp.
14,658
1,937,934
Intuit,
Inc.
4,466
1,870,138
KLA
Corp.
2,435
777,398
LAM
Research
Corp.
2,289
1,066,125
Marvell
Technology,
Inc.
13,641
792,269
Mastercard
,
Inc.,
Class
A
14,049
5,105,126
Microchip
Technology,
Inc.
8,731
569,261
Micron
Technology,
Inc.
17,900
1,220,601
Microsoft
Corp.
120,811
33,527,469
NVIDIA
Corp.
40,296
7,473,699
NXP
Semiconductors
NV
4,447
759,992
Oracle
Corp.
26,016
1,909,574
Palantir
Technologies,
Inc.,
Class
A
(a)(b)
25,411
264,274
Palo
Alto
Networks,
Inc.
1,593
894,119
Paychex,
Inc.
5,140
651,392
PayPal
Holdings,
Inc.
18,436
1,621,077
QUALCOMM,
Inc.
18,162
2,537,050
Roper
Technologies,
Inc.
1,739
817,191
salesforce.com,
Inc.
(a)
15,884
2,794,631
ServiceNow
,
Inc.
3,220
1,539,482
Snowflake,
Inc.,
Class
A
(a)
3,659
627,299
Synopsys,
Inc.
(a)
2,496
715,828
TE
Connectivity
Ltd.
5,413
675,434
Texas
Instruments,
Inc.
14,639
2,492,290
Twilio
,
Inc.,
Class
A
(a)
2,602
290,956
Visa,
Inc.,
Class
A
(b)
26,955
5,744,919
Workday,
Inc.,
Class
A
3,038
627,955
Zoom
Video
Communications,
Inc.,
Class
A
(a)
3,168
315,438
Zscaler
,
Inc.
(a)
1,186
240,450
149,892,453
Materials
–
1.7%
Air
Products
&
Chemicals,
Inc.
3,491
817,138
Dow,
Inc.
12,552
834,708
Ecolab,
Inc.
4,024
681,424
Freeport-McMoRan,
Inc.
23,185
940,152
Linde
PLC
8,275
2,581,469
Newmont
Corp.
12,470
908,440
Sherwin-Williams
Co.
(The)
3,883
1,067,670
Southern
Copper
Corp.
1,363
84,874
7,915,875
Real
Estate
–
1.7%
American
Tower
Corp.
(c)
7,314
1,762,820
Crown
Castle
International
Corp.
(c)
7,006
1,297,581
Digital
Realty
Trust,
Inc.
(c)
4,575
668,499
Equinix
,
Inc.
(c)
1,483
1,066,396
Prologis,
Inc.
(c)
11,812
1,893,345
Public
Storage
(c)
2,427
901,631
Simon
Property
Group,
Inc.
(c)
5,410
638,380
8,228,652
Utilities
–
1.7%
American
Electric
Power
Co.,
Inc.
8,077
800,511
Dominion
Energy,
Inc.
13,397
1,093,731
Duke
Energy
Corp.
12,157
1,339,215
Exelon
Corp.
15,060
704,507
22
STATEMENT
OF
INVESTMENTS
(continued)
(a)
Non-income
producing
security.
(b)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$4,293,663
and
the
value
of
the
collateral
was
$4,540,992,
consisting
of
cash
collateral
of
$190,102
and
U.S.
Government
&
Agency
securities
valued
at
$4,350,890.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(c)
Investment
in
a
real
estate
investment
trust.
(d)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
(e)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Utilities
–
1.7%
(continued)
NextEra
Energy,
Inc.
31,890
2,264,828
Sempra
Energy
5,056
815,836
Southern
Co.
(The)
16,635
1,220,843
8,239,471
Total
Common
Stocks
(cost
$487,645,650)
479,696,140
Investment
Companies
–
0.2%
Registered
Investment
Companies
–
0.2%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$1,027,130)
1,027,130
1,027,130
Investment
of
Cash
Collateral
for
Securities
Loaned
–
0.0%
Registered
Investment
Companies
–
0.0%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$190,102)
190,102
190,102
Total
Investments
(cost
$488,862,882)
100.0%
480,913,372
Cash
and
Receivables
(Net)
0.0%
30,383
Net
Assets
100.0%
480,943,755
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
301,916
5,453,927
(4,728,713)
—
—
1,027,130
0.2
353
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
140,106
1,023,942
(973,946)
—
—
190,102
0.0
9,907
2
Total
442,022
6,477,869
(5,702,659)
—
—
1,217,232
0.2
10,260
1
Includes
reinvested
dividends/distributions.
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
23
See
Notes
to
Financial
Statements
Portfolio
Summary
(Unaudited)
†
Value
(%)
Information
Technology
31.2
Health
Care
14.7
Consumer
Discretionary
11.8
Financials
10.8
Communication
Services
9.7
Consumer
Staples
6.7
Industrials
6.4
Energy
3.4
Utilities
1.7
Real
Estate
1.7
Materials
1.7
Registered
Investment
Companies
0.2
100.0
†
Based
on
net
assets.
Futures
Description
Number
of
Contracts
Expiration
Notional
Value
($)
Market
Value
($)
Unrealized
Appreciation
(Depreciation)
($)
Futures
Long
S&P
500
E-mini
6
6/17/2022
1,339,285
1,238,250
(101,035)
24
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Description
Shares
Value
($)
Common
Stocks
–
99.8%
Communication
Services
–
3.4%
AMC
Entertainment
Holdings,
Inc.,
Class
A
(a),(b)
5,735
87,745
Cable
One,
Inc.
58
67,640
DISH
Network
Corp.,
Class
A
(a),(b)
2,945
83,962
Fox
Corp.,
Class
A
3,792
135,905
Fox
Corp.,
Class
B
1,800
59,832
IAC/InterActiveCorp
(b)
1,020
84,538
Interpublic
Group
of
Cos.,
Inc.
(The)
4,769
155,565
Liberty
Broadband
Corp.,
Class
A
(b)
275
29,606
Liberty
Broadband
Corp.,
Class
C
(b)
1,672
186,963
Liberty
Media
Corp.-Liberty
Formula
One,
Class
A
(b)
308
17,685
Liberty
Media
Corp.-Liberty
Formula
One,
Class
C
(b)
2,465
153,643
Liberty
Media
Corp.-Liberty
SiriusXM
,
Class
A
(b)
1,009
42,206
Liberty
Media
Corp.-Liberty
SiriusXM
,
Class
C
(b)
1,937
81,122
Live
Nation
Entertainment,
Inc.
(b)
1,604
168,227
Lumen
Technologies,
Inc.
(a)
11,065
111,314
New
York
Times
Co.
(The),
Class
A
1,978
75,797
News
Corp.,
Class
A
4,573
90,820
News
Corp.,
Class
B
1,476
29,387
Omnicom
Group,
Inc.
2,533
192,837
Pinterest,
Inc.,
Class
A
(b)
6,544
134,283
Playtika
Holding
Corp.
(b)
1,253
22,028
Roku,
Inc.,
Class
A
(b)
1,370
127,273
Sirius
XM
Holdings,
Inc.
(a)
10,990
65,940
Take-Two
Interactive
Software,
Inc.
(b)
1,396
166,836
ViacomCBS
,
Inc.,
Class
A
22
694
ViacomCBS
,
Inc.,
Class
B
(a)
7,173
208,878
Warner
Bros
Discovery,
Inc.
25,565
464,005
ZoomInfo
Technologies,
Inc.,
Class
A
(b)
3,560
168,744
Zynga,
Inc.,
Class
A
(b)
12,291
101,647
3,315,122
Consumer
Discretionary
–
10.6%
Advance
Auto
Parts,
Inc.
723
144,333
Aramark
2,988
108,315
Autoliv
,
Inc.
930
68,522
AutoNation,
Inc.
(b)
515
59,694
AutoZone,
Inc.
(b)
244
477,135
Bath
&
Body
Works,
Inc.
3,128
165,440
Best
Buy
Co.,
Inc.
2,540
228,422
BorgWarner,
Inc.
2,700
99,441
Bright
Horizons
Family
Solutions,
Inc.
(b)
749
85,566
Brunswick
Corp.
940
71,073
Burlington
Stores,
Inc.
(b)
801
163,052
Caesars
Entertainment,
Inc.
(b)
2,462
163,181
Capri
Holdings
Ltd.
(b)
1,836
87,577
CarMax,
Inc.
(b)
1,956
167,786
Carnival
Corp.
(a),(b)
9,287
160,665
Carvana
Co.,
Class
A
(a),(b)
1,151
66,712
Chegg
,
Inc.
(b)
1,678
41,514
Chewy,
Inc.,
Class
A
(a),(b)
1,013
29,438
Churchill
Downs,
Inc.
407
82,597
Crocs,
Inc.
(b)
668
44,375
D.R.
Horton,
Inc.
3,804
264,720
Darden
Restaurants,
Inc.
1,504
198,122
Deckers
Outdoor
Corp.
(b)
339
90,089
Dollar
Tree,
Inc.
(b)
2,693
437,478
Domino's
Pizza,
Inc.
430
145,340
Draftkings
,
Inc.,
Class
A
(a),(b)
3,634
49,713
Etsy,
Inc.
(b)
1,482
138,108
Expedia
Group,
Inc.
(b)
1,750
305,813
Five
Below,
Inc.
(b)
684
107,456
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Consumer
Discretionary
–
10.6%
(continued)
Floor
&
Decor
Holdings,
Inc.,
Class
A
(b)
1,277
101,802
Gamestop
Corp.,
Class
A
(a),(b)
671
83,922
Gap,
Inc.
(The)
2,621
32,553
Garmin
Ltd.
1,794
196,874
Gentex
Corp.
2,828
83,002
Genuine
Parts
Co.
1,668
216,923
Hasbro,
Inc.
1,539
135,524
Hilton
Worldwide
Holdings,
Inc.
(b)
3,271
507,954
Kohl's
Corp.
1,736
100,480
Las
Vegas
Sands
Corp.
(b)
4,061
143,881
Lear
Corp.
698
89,302
Lennar
Corp.,
Class
A
3,113
238,113
Lennar
Corp.,
Class
B
204
13,301
Lithia
Motors,
Inc.,
Class
A
359
101,644
LKQ
Corp.
3,202
158,915
Macy's,
Inc.
3,540
85,562
Mattel,
Inc.
(b)
4,234
102,929
MGM
Resorts
International
4,546
186,568
Mohawk
Industries,
Inc.
(b)
640
90,278
Newell
Brands,
Inc.
4,564
105,657
Norwegian
Cruise
Line
Holdings
Ltd.
(b)
4,930
98,748
NVR,
Inc.
(b)
37
161,920
Peloton
Interactive,
Inc.,
Class
A
(b)
3,361
59,019
Penn
National
Gaming,
Inc.
(b)
1,903
69,593
Penske
Automotive
Group,
Inc.
255
26,729
Pool
Corp.
475
192,480
PulteGroup,
Inc.
2,840
118,598
PVH
Corp.
836
60,844
QuantumScape
Corp.,
Class
A
(a),(b)
2,794
41,742
RH
204
68,568
Royal
Caribbean
Cruises
Ltd.
(b)
2,603
202,331
Service
Corp.
International
1,990
130,564
Tapestry,
Inc.
3,128
102,974
Tempur
Sealy
International,
Inc.
2,120
57,473
Toll
Brothers,
Inc.
1,338
62,043
TopBuild
Corp.
389
70,463
Tractor
Supply
Co.
1,312
264,302
Ulta
Beauty,
Inc.
(b)
648
257,126
Under
Armour
,
Inc.,
Class
A
(b)
2,248
34,529
Under
Armour
,
Inc.,
Class
C
(b)
2,381
33,786
Vail
Resorts,
Inc.
486
123,522
VF
Corp.
3,725
193,700
Wayfair,
Inc.,
Class
A
(a),(b)
890
68,477
Whirlpool
Corp.
717
130,150
Williams-Sonoma,
Inc.
868
113,257
Wynn
Resorts
Ltd.
(b)
1,278
90,073
YETI
Holdings,
Inc.
(b)
998
48,772
Yum!
Brands,
Inc.
3,427
400,993
10,309,637
Consumer
Staples
–
5.4%
Albertsons
Cos.,
Inc.
896
28,027
Archer-Daniels-Midland
Co.
6,647
595,305
Brown-Forman
Corp.,
Class
A
576
35,954
Brown-Forman
Corp.,
Class
B
2,162
145,805
Bunge
Ltd.
1,614
182,576
Campbell
Soup
Co.
2,299
108,559
Church
&
Dwight
Co.,
Inc.
2,898
282,729
Clorox
Co.
(The)
1,448
207,744
ConAgra
Brands,
Inc.
5,517
192,709
Darling
Ingredients,
Inc.
(b)
1,956
143,551
General
Mills,
Inc.
6,955
491,927
25
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Consumer
Staples
–
5.4%
(continued)
Hershey
Co.
(The)
1,710
386,067
Hormel
Foods
Corp.
3,240
169,743
JM
Smucker
Co.
(The)
1,248
170,889
Kellogg
Co.
2,909
199,266
Kroger
Co.
(The)
7,998
431,572
Lamb
Weston
Holdings,
Inc.
1,759
116,270
McCormick
&
Co.,
Inc.
2,965
298,190
Molson
Coors
Beverage
Co.,
Class
B
2,257
122,194
Olaplex
Holdings,
Inc.
(b)
847
12,451
SYSCO
Corp.
6,023
514,846
Tyson
Foods,
Inc.,
Class
A
3,460
322,334
US
Foods
Holding
Corp.
(b)
2,677
100,709
5,259,417
Energy
–
6.3%
APA
Corp.
4,408
180,420
Baker
Hughes
Co.,
Class
A
10,620
329,432
Cheniere
Energy,
Inc.
2,754
374,021
Continental
Resources,
Inc.
(a)
723
40,177
Coterra
Energy,
Inc.
9,390
270,338
Devon
Energy
Corp.
7,535
438,311
Diamondback
Energy,
Inc.
1,978
249,683
Halliburton
Co.
10,647
379,246
Hess
Corp.
3,263
336,317
Kinder
Morgan,
Inc.
22,807
413,947
Marathon
Oil
Corp.
9,411
234,522
Occidental
Petroleum
Corp.
10,516
579,327
ONEOK,
Inc.
5,320
336,916
Ovintiv
,
Inc.
3,079
157,614
Phillips
66
5,484
475,792
Targa
Resources
Corp.
2,761
202,685
Texas
Pacific
Land
Corp.
74
101,128
Valero
Energy
Corp.
4,815
536,776
Williams
Cos.,
Inc.
(The)
14,440
495,148
6,131,800
Financials
–
11.8%
Aflac,
Inc.
7,135
408,693
AGNC
Investment
Corp.
(a)(c)
5,790
63,574
Alleghany
Corp.
(b)
164
137,186
Allstate
Corp.
(The)
3,282
415,304
Ally
Financial,
Inc.
3,920
156,643
American
Financial
Group,
Inc.
709
98,182
Ameriprise
Financial,
Inc.
1,296
344,075
Annaly
Capital
Management,
Inc.
(a)(c)
16,729
107,400
Apollo
Global
Management,
Inc.
4,392
218,546
Arch
Capital
Group
Ltd.
(b)
4,670
213,279
Ares
Management
Corp.,
Class
A
1,981
131,182
Arthur
J
Gallagher
&
Co.
2,463
414,991
Assurant,
Inc.
701
127,498
Brown
&
Brown,
Inc.
2,813
174,350
Carlyle
Group,
Inc.
(The)
1,600
58,064
Cincinnati
Financial
Corp.
1,808
221,769
Citizens
Financial
Group,
Inc.
5,854
230,648
Comerica,
Inc.
1,524
124,816
Commerce
Bancshares,
Inc.
1,299
88,813
Credit
Acceptance
Corp.
(a),(b)
87
44,587
Cullen/Frost
Bankers,
Inc.
669
88,502
Discover
Financial
Services
3,450
387,987
East
West
Bancorp,
Inc.
1,687
120,283
Equitable
Holdings,
Inc.
4,534
130,715
Erie
Indemnity
Co.,
Class
A
300
48,084
Everest
Re
Group
Ltd.
462
126,916
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Financials
–
11.8%
(continued)
FactSet
Research
Systems,
Inc.
438
176,729
Fidelity
National
Financial,
Inc.
3,416
136,025
Fifth
Third
Bancorp
8,128
305,044
First
American
Financial
Corp.
1,184
69,039
First
Horizon
National
Corp.
6,488
145,201
First
Republic
Bank
2,103
313,810
Franklin
Resources,
Inc.
3,188
78,393
Globe
Life,
Inc.
1,121
109,948
Hartford
Financial
Services
Group,
Inc.
(The)
3,883
271,538
Huntington
Bancshares,
Inc.
17,327
227,850
Invesco
Ltd.
3,826
70,322
Jefferies
Financial
Group,
Inc.
2,427
74,654
KeyCorp
10,974
211,908
Lincoln
National
Corp.
2,049
123,247
Loews
Corp.
2,252
141,516
LPL
Financial
Holdings,
Inc.
963
180,919
M&T
Bank
Corp.
2,125
354,110
Markel
Corp.
(b)
163
220,585
MarketAxess
Holdings,
Inc.
447
117,834
Morningstar,
Inc.
279
70,651
NASDAQ,
Inc.
1,372
215,912
Northern
Trust
Corp.
2,398
247,114
Old
Republic
International
Corp.
2,803
61,694
Principal
Financial
Group,
Inc.
2,947
200,808
Raymond
James
Financial,
Inc.
2,204
214,802
Regions
Financial
Corp.
11,355
235,276
Reinsurance
Group
of
America,
Inc.,
Class
A
828
88,861
SEI
Investments
Co.
1,173
65,359
Signature
Bank
741
179,507
SoFi
Technologies,
Inc.
(a),(b)
7,621
46,640
Starwood
Property
Trust,
Inc.
(c)
3,475
79,508
State
Street
Corp.
4,311
288,708
SVB
Financial
Group
(b)
690
336,472
Synchrony
Financial
6,026
221,817
Tradeweb
Markets,
Inc.,
Class
A
1,187
84,502
Upstart
Holdings,
Inc.
(a),(b)
542
40,661
Voya
Financial,
Inc.
(a)
1,239
78,230
W.R.
Berkley
Corp.
2,481
164,962
Western
Alliance
Bancorp
1,256
95,594
Willis
Towers
Watson
PLC
1,436
308,539
Zions
Bancorp
NA
1,868
105,561
11,441,937
Health
Care
–
10.6%
10x
Genomics,
Inc.,
Class
A
(a),(b)
995
47,521
ABIOMED,
Inc.
(b)
526
150,741
Agilon
Health,
Inc.
(a),(b)
554
9,845
Alnylam
Pharmaceuticals,
Inc.
(b)
1,416
188,937
AmerisourceBergen
Corp.,
Class
A
1,764
266,876
Avantor
,
Inc.
(b)
7,123
227,081
Azenta
,
Inc.
876
65,665
Baxter
International,
Inc.
5,857
416,198
Biohaven
Pharmaceutical
Holding
Co
Ltd.
(b)
686
61,171
BioMarin
Pharmaceutical,
Inc.
(b)
2,180
177,343
BIO-RAD
Laboratories,
Inc.,
Class
A
(b)
261
133,648
Bio-
Techne
Corp.
468
177,695
Bridgebio
Pharma,
Inc.
(b)
86
690
Bruker
Corp.
1,198
68,873
Cardinal
Health,
Inc.
3,366
195,396
Catalent
,
Inc.
(b)
2,076
188,003
Centene
Corp.
(b)
6,899
555,714
Cerner
Corp.
3,500
327,740
26
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Health
Care
–
10.6%
(continued)
Charles
River
Laboratories
International,
Inc.
(b)
607
146,597
Chemed
Corp.
160
78,622
Cooper
Cos.,
Inc.
(The)
593
214,097
DaVita,
Inc.
(b)
753
81,603
DENTSPLY
SIRONA,
Inc.
2,661
106,413
Elanco
Animal
Health,
Inc.
(b)
5,400
136,674
Exact
Sciences
Corp.
(b)
1,966
108,228
Guardant
Health,
Inc.
(b)
1,100
67,870
Henry
Schein,
Inc.
(b)
1,693
137,302
Hologic
,
Inc.
(b)
2,920
210,211
Horizon
Therapeutics
PLC
(b)
2,656
261,775
Incyte
Corp.
(b)
2,228
167,011
Insulet
Corp.
(b)
802
191,670
Intellia
Therapeutics,
Inc.
(b)
816
40,008
Jazz
Pharmaceuticals
PLC
(b)
711
113,916
Laboratory
Corp.
of
America
Holdings
(b)
1,085
260,704
Masimo
Corp.
(b)
610
68,912
McKesson
Corp.
1,773
548,938
Mettler
-Toledo
International,
Inc.
(b)
271
346,211
Mirati
Therapeutics,
Inc.
(b)
585
36,147
Molina
Healthcare,
Inc.
(b)
696
218,161
Natera
,
Inc.
(b)
877
30,800
Neurocrine
Biosciences,
Inc.
(b)
1,139
102,544
Novavax
,
Inc.
(a),(b)
880
39,662
Novocure
Ltd.
(a),(b)
1,028
78,724
Oak
Street
Health,
Inc.
(b)
1,649
29,830
Organon
&
Co.
2,992
96,731
Penumbra,
Inc.
(b)
414
71,440
PerkinElmer,
Inc.
1,491
218,595
Quest
Diagnostics,
Inc.
1,440
192,730
Repligen
Corp.
(b)
633
99,533
ResMed
,
Inc.
1,726
345,148
Royalty
Pharma
PLC,
Class
A
4,183
178,112
Seagen
,
Inc.
(b)
1,558
204,114
STERIS
PLC
1,178
263,931
Syneos
Health,
Inc.,
Class
A
(b)
1,193
87,196
Tandem
Diabetes
Care,
Inc.
(b)
750
72,360
Teladoc
Health,
Inc.
(b)
1,801
60,802
Teleflex,
Inc.
563
160,804
United
Therapeutics
Corp.
(b)
527
93,574
Universal
Health
Services,
Inc.,
Class
B
852
104,396
Viatris
,
Inc.
13,802
142,575
Waters
Corp.
(b)
735
222,720
West
Pharmaceutical
Services,
Inc.
865
272,527
Zimmer
Biomet
Holdings,
Inc.
2,493
301,030
10,270,085
Industrials
–
14.7%
Advanced
Drainage
Systems,
Inc.
690
70,697
AECOM
1,665
117,482
AGCO
Corp.
729
92,875
Allegion
PLC
1,075
122,808
AMERCO
108
57,832
American
Airlines
Group,
Inc.
(a),(b)
7,338
137,734
AMETEK,
Inc.
2,695
340,271
AO
Smith
Corp.
1,621
94,715
Aurora
Innovation,
Inc.
(a),(b)
3,039
12,946
Avis
Budget
Group,
Inc.
(a),(b)
475
127,143
Axon
Enterprise,
Inc.
(b)
809
90,770
Booz
Allen
Hamilton
Holding
Corp.,
Class
A
1,604
130,935
Builders
FirstSource
,
Inc.
(b)
2,326
143,212
Carlisle
Cos.,
Inc.
609
157,950
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Industrials
–
14.7%
(continued)
CH
Robinson
Worldwide,
Inc.
1,570
166,655
ChargePoint
Holdings,
Inc.
(a),(b)
2,010
26,009
Clarivate
PLC
(b)
4,476
70,184
Copart
,
Inc.
(b)
2,501
284,239
CoStar
Group,
Inc.
(b)
4,718
300,159
Cummins,
Inc.
1,684
318,596
Delta
Air
Lines,
Inc.
(b)
7,425
319,498
Donaldson
Co.,
Inc.
1,525
74,786
Dover
Corp.
1,626
216,746
Dun
&
Bradstreet
Holdings,
Inc.
(b)
1,571
24,806
Equifax,
Inc.
1,427
290,423
Expeditors
International
of
Washington,
Inc.
2,008
198,933
Fastenal
Co.
6,869
379,924
Fortive
Corp.
4,153
238,797
Fortune
Brands
Home
&
Security,
Inc.
1,575
112,219
Generac
Holdings,
Inc.
(b)
757
166,071
Graco
,
Inc.
2,042
126,645
Gxo
Logistics,
Inc.
1,164
68,897
HEICO
Corp.
517
73,016
HEICO
Corp.,
Class
A
892
104,043
Howmet
Aerospace,
Inc.
4,616
157,498
Hubbell,
Inc.,
Class
B
654
127,765
Huntington
Ingalls
Industries,
Inc.
488
103,817
IAA,
Inc.
1,591
58,310
IDEX
Corp.
917
174,065
Ingersoll
Rand,
Inc.
4,749
208,766
ITT,
Inc.
1,041
73,099
Jacobs
Engineering
Group,
Inc.
1,508
208,933
JB
Hunt
Transport
Services,
Inc.
956
163,333
Knight-Swift
Transportation
Holdings,
Inc.,
Class
A
1,868
89,459
Leidos
Holdings,
Inc.
1,706
176,588
Lennox
International,
Inc.
380
81,012
Lincoln
Electric
Holdings,
Inc.
649
87,440
Lyft,
Inc.,
Class
A
(b)
3,482
113,513
Masco
Corp.
2,924
154,066
Middleby
Corp.
(The)
(b)
659
101,414
Nielsen
Holdings
PLC
4,334
116,195
Nordson
Corp.
626
135,022
Old
Dominion
Freight
Line,
Inc.
1,067
298,888
Oshkosh
Corp.
818
75,616
Otis
Worldwide
Corp.
4,962
361,432
Owens
Corning
1,160
105,479
PACCAR,
Inc.
4,080
338,844
Parker-Hannifin
Corp.
1,531
414,625
Pentair
PLC
1,898
96,324
Plug
Power,
Inc.
(a),(b)
6,059
127,360
Quanta
Services,
Inc.
1,677
194,498
Regal
Rexnord
Corp.
770
97,975
Republic
Services,
Inc.,
Class
A
2,382
319,831
Robert
Half
International,
Inc.
1,337
131,440
Rockwell
Automation,
Inc.
1,372
346,663
Rollins,
Inc.
2,617
87,774
Saia,
Inc.
(b)
313
64,465
Sensata
Technologies
Holding
PLC
(b)
1,925
87,414
SiteOne
Landscape
Supply,
Inc.
(b)
527
74,323
Snap-On,
Inc.
609
129,406
Southwest
Airlines
Co.
(b)
6,915
323,069
Stanley
Black
&
Decker,
Inc.
1,931
232,010
Sunrun
,
Inc.
(b)
2,273
45,415
Tetra
Tech,
Inc.
609
84,822
Textron,
Inc.
2,674
185,175
27
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Industrials
–
14.7%
(continued)
Toro
Co.
(The)
1,294
103,688
TransDigm
Group,
Inc.
(b)
629
374,135
TransUnion
2,307
201,909
Trex
Co.,
Inc.
(b)
1,412
82,164
TuSimple
Holdings,
Inc.,
Class
A
(a),(b)
379
3,930
United
Airlines
Holdings,
Inc.
(a),(b)
3,700
186,850
United
Rentals,
Inc.
(b)
866
274,106
Verisk
Analytics,
Inc.,
Class
A
1,905
388,715
Vertiv
Holdings
Co.,
Class
A
3,381
42,364
Watsco
,
Inc.
371
98,975
Westinghouse
Air
Brake
Technologies
Corp.
2,237
201,129
Woodward,
Inc.
716
79,104
WW
Grainger,
Inc.
491
245,515
XPO
Logistics,
Inc.
(b)
1,203
64,709
Xylem,
Inc.
2,147
172,834
14,331,286
Information
Technology
–
14.3%
Affirm
Holdings,
Inc.,
Class
A
(a),(b)
1,917
55,018
Akamai
Technologies,
Inc.
(b)
1,956
219,620
Anaplan,
Inc.
(b)
1,629
105,869
ANSYS,
Inc.
(b)
1,042
287,269
AppLovin
Corp.,
Class
A
(b)
351
13,391
Arista
Networks,
Inc.
(b)
2,628
303,718
Arrow
Electronics,
Inc.
(b)
730
86,038
Asana,
Inc.,
Class
A
(b)
837
22,432
Aspen
Technology,
Inc.
(b)
802
127,149
Avalara,
Inc.
(b)
1,032
78,504
Bentley
Systems,
Inc.,
Class
B
2,178
92,325
Bill.com
Holdings,
Inc.
(b)
1,088
185,732
Black
Knight,
Inc.
1,748
115,001
Braze,
Inc.,
Class
A
(b)
89
3,577
Broadridge
Financial
Solutions,
Inc.
1,401
201,926
CDW
Corp.
1,580
257,824
Ceridian
HCM
Holding,
Inc.
(b)
1,615
90,650
Ciena
Corp.
(b)
1,890
104,271
Citrix
Systems,
Inc.
1,471
147,247
Cognex
Corp.
2,137
144,525
Concentrix
Corp.
470
74,016
Core
Scientific,
Inc.
(b)
2,701
15,963
Corning,
Inc.
8,964
315,443
Coupa
Software,
Inc.
(b)
814
70,248
Cvent
Holding
Corp.
(b)
446
3,140
Datadog
,
Inc.,
Class
A
(b)
3,043
367,534
Dell
Technologies,
Inc.,
Class
C
3,414
160,492
Digital
Turbine,
Inc.
(b)
1,042
32,979
Digitalocean
Holdings,
Inc.
(b)
67
2,642
Dropbox,
Inc.,
Class
A
(b)
3,105
67,534
DXC
Technology
Co.
(b)
2,998
86,043
Dynatrace
,
Inc.
(b)
2,205
84,584
Elastic
NV
(b)
828
63,044
Enphase
Energy,
Inc.
(b)
1,588
256,303
Entegris
,
Inc.
1,637
182,345
EPAM
Systems,
Inc.
(b)
649
171,979
F5
Networks,
Inc.
(b)
695
116,350
Fair
Isaac
Corp.
(b)
321
119,897
First
Solar,
Inc.
(b)
1,116
81,501
Five9,
Inc.
(b)
812
89,401
FleetCor
Technologies,
Inc.
(b)
945
235,796
Flex
Ltd.
(b)
5,408
89,178
Gartner,
Inc.
(b)
956
277,766
Genpact
Ltd.
1,920
77,318
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Information
Technology
–
14.3%
(continued)
GoDaddy
,
Inc.,
Class
A
(b)
2,001
161,701
Guidewire
Software,
Inc.
(b)
1,011
87,896
Hewlett
Packard
Enterprise
Co.
15,443
237,977
HP,
Inc.
12,940
473,992
HubSpot
,
Inc.
(b)
522
198,062
IPG
Photonics
Corp.
(b)
420
39,682
Jabil,
Inc.
1,606
92,714
Jack
Henry
&
Associates,
Inc.
889
168,537
Juniper
Networks,
Inc.
3,958
124,756
Keysight
Technologies,
Inc.
2,131
298,915
Lattice
Semiconductor
Corp.
(b)
1,622
77,921
Manhattan
Associates,
Inc.
(b)
729
95,171
MKS
Instruments,
Inc.
680
77,506
MongoDB,
Inc.,
Class
A
(a),(b)
788
279,685
Monolithic
Power
Systems,
Inc.
518
203,180
Motorola
Solutions,
Inc.
2,004
428,235
NetApp,
Inc.
2,655
194,479
NortonLifeLock
,
Inc.
6,917
173,202
Okta
,
Inc.,
Class
A
(b)
1,750
208,793
ON
Semiconductor
Corp.
(b)
5,147
268,210
Paycom
Software,
Inc.
(b)
562
158,186
Paylocity
Holding
Corp.
(b)
475
90,074
Pegasystems
,
Inc.
465
35,614
PTC,
Inc.
(b)
1,261
144,019
Qorvo
,
Inc.
(b)
1,265
143,932
RingCentral,
Inc.,
Class
A
922
78,232
Samsara,
Inc.,
Class
A
(a),(b)
216
2,665
Seagate
Technology
Holdings
PLC
2,381
195,337
Skyworks
Solutions,
Inc.
1,973
223,541
Smartsheet
,
Inc.,
Class
A
(b)
1,446
69,885
SolarEdge
Technologies,
Inc.
(b)
624
156,256
Splunk
,
Inc.
(b)
1,867
227,811
SS&C
Technologies
Holdings,
Inc.
2,564
165,788
Teledyne
Technologies,
Inc.
(b)
554
239,079
Teradyne,
Inc.
1,927
203,221
Thoughtworks
Holding,
Inc.
(b)
256
4,739
Trade
Desk,
Inc.
(The),
Class
A
(b)
5,186
305,559
Trimble,
Inc.
(b)
3,021
201,501
Tyler
Technologies,
Inc.
(b)
491
193,803
Uipath
,
Inc.,
Class
A
(b)
3,066
54,667
Unity
Software,
Inc.
(b)
1,937
128,636
Universal
Display
Corp.
518
66,164
VeriSign,
Inc.
(b)
1,148
205,136
VMware,
Inc.,
Class
A
2,391
258,324
Western
Digital
Corp.
(b)
3,620
192,113
Western
Union
Co.
(The)
4,310
72,236
Wolfspeed
,
Inc.
(b)
1,460
133,897
Zebra
Technologies
Corp.,
Class
A
(b)
640
236,582
Zendesk
,
Inc.
(b)
1,410
172,076
13,933,269
Materials
–
7.2%
Albemarle
Corp.
1,405
270,926
Alcoa
Corp.
2,175
147,465
Amcor
PLC
18,131
215,034
AptarGroup,
Inc.
780
89,567
Avery
Dennison
Corp.
1,001
180,781
Axalta
Coating
Systems
Ltd.
(b)
2,419
61,370
Ball
Corp.
3,721
301,996
Berry
Global
Group,
Inc.
(b)
1,606
90,498
Celanese
Corp.,
Class
A
1,240
182,206
CF
Industries
Holdings,
Inc.
2,589
250,693
28
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Materials
–
7.2%
(continued)
Cleveland-Cliffs,
Inc.
(b)
5,549
141,444
Corteva
,
Inc.
8,683
500,922
Crown
Holdings,
Inc.
1,510
166,160
DuPont
de
Nemours,
Inc.
6,011
396,305
Eastman
Chemical
Co.
1,501
154,108
FMC
Corp.
1,527
202,389
International
Flavors
&
Fragrances,
Inc.,
Class
W
2,977
361,110
International
Paper
Co.
4,498
208,167
LyondellBasell
Industries
NV,
Class
A
3,100
328,693
Martin
Marietta
Materials,
Inc.
709
251,142
Mosaic
Co.
(The)
4,465
278,705
Nucor
Corp.
3,251
503,190
Olin
Corp.
1,696
97,350
Packaging
Corp.
of
America
1,102
177,609
PPG
Industries,
Inc.
2,808
359,396
Reliance
Steel
&
Aluminum
Co.
707
140,163
RPM
International,
Inc.
1,558
129,158
Scotts
Miracle-GRO
Co.
(The)
499
51,861
Sealed
Air
Corp.
1,795
115,257
Steel
Dynamics,
Inc.
2,261
193,881
Vulcan
Materials
Co.
1,503
258,952
Westlake
Chemical
Corp.
421
53,278
Westrock
Co.
3,219
159,437
7,019,213
Real
Estate
–
9.0%
Alexandria
Real
Estate
Equities,
Inc.
(c)
1,722
313,680
American
Homes
4
Rent,
Class
A
(c)
3,393
134,397
Americold
Realty
Trust
(c)
2,958
78,032
Apartment
Income
REIT
Corp.
(c)
1,851
91,014
AvalonBay
Communities,
Inc.
(c)
1,611
366,470
Boston
Properties,
Inc.
(c)
1,715
201,684
Camden
Property
Trust
(c)
1,160
181,992
CBRE
Group,
Inc.,
Class
A
(b)
3,968
329,503
CubeSmart
(c)
2,484
118,015
Duke
Realty
Corp.
(c)
4,522
247,579
Equity
LifeStyle
Properties,
Inc.
(c)
2,013
155,565
Equity
Residential
(c)
4,023
327,874
Essex
Property
Trust,
Inc.
(c)
757
249,257
Extra
Space
Storage,
Inc.
(c)
1,567
297,730
Federal
Realty
Investment
Trust
(c)
855
100,086
Gaming
and
Leisure
Properties,
Inc.
(c)
2,696
119,648
Healthpeak
Properties,
Inc.
(c)
6,479
212,576
Host
Hotels
&
Resorts,
Inc.
(c)
8,649
176,007
Invitation
Homes,
Inc.
(c)
7,075
281,726
Iron
Mountain,
Inc.
(c)
3,470
186,443
Jones
Lang
LaSalle,
Inc.
(b)
615
134,519
Kilroy
Realty
Corp.
(c)
1,284
89,880
Kimco
Realty
Corp.
(c)
7,180
181,869
Lamar
Advertising
Co.,
Class
A
(c)
1,047
115,599
Life
Storage,
Inc.
(c)
897
118,844
Medical
Properties
Trust,
Inc.
(c)
7,157
131,617
Mid-America
Apartment
Communities,
Inc.
(c)
1,342
263,945
National
Retail
Properties,
Inc.
(c)
2,124
93,116
Opendoor
Technologies,
Inc.
(a),(b)
3,899
27,254
Realty
Income
Corp.
(c)
6,646
460,967
Regency
Centers
Corp.
(c)
1,898
130,639
Rexford
Industrial
Realty,
Inc.
(c)
1,840
143,594
SBA
Communications
Corp.,
Class
A
(c)
1,290
447,772
STORE
Capital
Corp.
(c)
2,897
82,362
Sun
Communities,
Inc.
(c)
1,348
236,668
UDR,
Inc.
(c)
3,475
184,905
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Real
Estate
–
9.0%
(continued)
Ventas,
Inc.
(c)
4,714
261,863
VICI
Properties,
Inc.
(c)
9,753
290,737
Vornado
Realty
Trust
(c)
1,889
73,123
W.P.
Carey,
Inc.
(c)
2,207
178,259
Welltower
,
Inc.
(c)
5,116
464,584
Weyerhaeuser
Co.
(c)
8,944
368,672
Zillow
Group,
Inc.,
Class
A
(b)
330
12,755
Zillow
Group,
Inc.,
Class
C
1,968
78,366
8,741,187
Utilities
–
6.5%
AES
Corp.
(The)
7,661
156,438
Alliant
Energy
Corp.
2,978
175,136
Ameren
Corp.
2,948
273,869
American
Water
Works
Co.,
Inc.
2,075
319,716
Atmos
Energy
Corp.
1,571
178,151
Avangrid
,
Inc.
607
26,921
CenterPoint
Energy,
Inc.
7,284
222,963
CMS
Energy
Corp.
3,472
238,492
Consolidated
Edison,
Inc.
4,105
380,698
Constellation
Energy
Corp.
3,862
228,669
DTE
Energy
Co.
2,308
302,440
Edison
International
4,415
303,708
Entergy
Corp.
2,377
282,507
Essential
Utilities,
Inc.
2,715
121,523
Evergy
,
Inc.
2,727
185,027
Eversource
Energy
4,038
352,921
FirstEnergy
Corp.
6,496
281,342
NiSource,
Inc.
4,685
136,427
NRG
Energy,
Inc.
2,878
103,320
PG&E
Corp.
(b)
17,844
225,727
Pinnacle
West
Capital
Corp.
1,197
85,226
PPL
Corp.
8,786
248,732
Public
Service
Enterprise
Group,
Inc.
5,970
415,870
UGI
Corp.
2,518
86,367
Vistra
Corp.
5,706
142,764
WEC
Energy
Group,
Inc.
3,736
373,787
Xcel
Energy,
Inc.
6,209
454,871
6,303,612
Total
Common
Stocks
(cost
$87,493,392)
97,056,565
Investment
Companies
–
0.2%
Registered
Investment
Companies
–
0.2%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$215,056)
215,056
215,056
Investment
of
Cash
Collateral
for
Securities
Loaned
–
0.8%
Registered
Investment
Companies
–
0.8%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$787,140)
787,140
787,140
Total
Investments
(cost
$88,495,588)
100.8%
98,058,761
Liabilities,
Less
Cash
and
Receivables
(0.8)%
(744,249)
Net
Assets
100.0%
97,314,512
REIT—Real
Estate
Investment
Trust
29
(a)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$2,592,676
and
the
value
of
the
collateral
was
$2,772,076,
consisting
of
cash
collateral
of
$787,140
and
U.S.
Government
&
Agency
securities
valued
at
$1,984,936.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(b)
Non-income
producing
security.
(c)
Investment
in
a
real
estate
investment
trust.
(d)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
(e)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
See
Notes
to
Financial
Statements
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
240,646
1,934,870
(1,960,460)
—
—
215,056
0.2
106
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
897,130
4,474,232
(4,584,222)
—
—
787,140
0.8
6,454
2
Total
1,137,776
6,409,102
(6,544,682)
—
—
1,002,196
1.0
6,560
1
Includes
reinvested
dividends/distributions.
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
Portfolio
Summary
(Unaudited)
†
Value
(%)
Industrials
14.7
Information
Technology
14.3
Financials
11.8
Consumer
Discretionary
10.6
Health
Care
10.6
Real
Estate
9.0
Materials
7.2
Utilities
6.5
Energy
6.3
Consumer
Staples
5.4
Communication
Services
3.4
Registered
Investment
Companies
1.0
100.8
†
Based
on
net
assets.
Futures
Description
Number
of
Contracts
Expiration
Notional
Value
($)
Market
Value
($)
Unrealized
Appreciation
(Depreciation)
($)
Futures
Long
S&P
MidCap
400
E-mini
1
6/17/2022
269,845
249,510
(20,335)
30
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Description
Shares
Value
($)
Common
Stocks
–
99.8%
Communication
Services
–
2.6%
Advantage
Solutions,
Inc.
(a)
2,397
12,057
Altice
USA,
Inc.,
Class
A
(a)
4,677
43,402
Bumble,
Inc.,
Class
A
(a)
1,521
36,489
Cardlytics,
Inc.
(a)(b)
718
24,505
Cargurus
,
Inc.,
Class
A
(a)
1,895
61,929
Cinemark
Holdings,
Inc.
(a)
2,328
36,922
Cogent
Communications
Holdings,
Inc.
903
52,825
Frontier
Communications
Parent,
Inc.
(a)
4,476
118,122
Fubotv
,
Inc.
(a)(b)
3,007
11,396
Globalstar
,
Inc.
(a)
14,258
16,539
Iheartmedia
,
Inc.
(a)
2,308
36,905
Iridium
Communications,
Inc.
(a)
2,827
100,952
John
Wiley
&
Sons,
Inc.,
Class
A
892
45,394
Liberty
Latin
America
Ltd.,
Class
A
(a)
832
7,688
Liberty
Latin
America
Ltd.,
Class
C
(a)
3,437
31,758
Lions
Gate
Entertainment
Corp.,
Class
A
(a)
1,325
17,874
Lions
Gate
Entertainment
Corp.,
Class
B
(a)
2,662
33,461
Madison
Square
Garden
Sports
Corp.,
Class
A
(a)
363
58,846
Magnite
,
Inc.
(a)
2,495
24,077
Nexstar
Media
Group,
Inc.,
Class
A
878
139,093
Skillz
,
Inc.,
Class
A
(a)(b)
5,726
11,738
Techtarget
,
Inc.
(a)
551
37,088
TEGNA,
Inc.
4,715
103,966
TripAdvisor,
Inc.
(a)
2,163
55,524
Vimeo,
Inc.
3,268
33,301
Warner
Music
Group
Corp.,
Class
A
2,466
73,413
World
Wrestling
Entertainment,
Inc.,
Class
A
(b)
923
53,894
Yelp,
Inc.,
Class
A
(a)
1,524
49,576
Ziff
Davis,
Inc.
(a)
1,022
90,304
Ziprecruiter
,
Inc.,
Class
A
(a)
239
5,380
1,424,418
Consumer
Discretionary
–
11.3%
2U,
Inc.
(a)
1,693
16,896
Abercrombie
&
Fitch
Co.,
Class
A
(a)
1,231
42,568
Academy
Sports
&
Outdoors,
Inc.
(b)
1,880
70,237
Acushnet
Holdings
Corp.
721
29,374
Adient
PLC
(a)
2,006
68,485
ADT,
Inc.
3,060
20,961
American
Eagle
Outfitters,
Inc.
(b)
3,350
50,619
Asbury
Automotive
Group,
Inc.
(a)
504
92,590
Boot
Barn
Holdings,
Inc.
(a)
621
55,927
Boyd
Gaming
Corp.
1,760
106,621
Callaway
Golf
Co.
(a)
2,534
55,596
Carter's,
Inc.
907
76,406
Century
Communities,
Inc.
607
32,001
Cheesecake
Factory,
Inc.
(The)
(a)
1,052
38,829
Choice
Hotels
International,
Inc.
700
98,322
Columbia
Sportswear
Co.
736
60,470
Coursera,
Inc.
(a)
1,748
32,880
Cracker
Barrel
Old
Country
Store,
Inc.
501
55,606
Dana,
Inc.
3,067
45,422
Dick's
Sporting
Goods,
Inc.
(b)
1,339
129,106
Dillard's,
Inc.,
Class
A
82
24,912
Dorman
Products,
Inc.
(a)
608
60,022
Duolingo
,
Inc.,
Class
A
(a)(b)
183
15,824
Dutch
Bros,
Inc.,
Class
A
(a)(b)
497
23,742
Faraday
Future
Intelligent
Electric,
Inc.
(a)(b)
3,601
9,291
Fisker
,
Inc.
(a)(b)
2,964
29,818
Foot
Locker,
Inc.
1,843
54,018
Fox
Factory
Holding
Corp.
(a)
893
73,119
Frontdoor
,
Inc.
1,803
55,731
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Consumer
Discretionary
–
11.3%
(continued)
Gentherm
,
Inc.
(a)
708
47,733
Goodyear
Tire
&
Rubber
Co.
(The)
(a)
6,077
80,946
Graham
Holdings
Co.,
Class
B
85
50,351
Grand
Canyon
Education,
Inc.
(a)
866
83,110
Group
1
Automotive,
Inc.
(b)
363
63,213
H&R
Block,
Inc.
3,533
92,105
Hanesbrands,
Inc.
7,499
99,437
Harley-Davidson,
Inc.
3,275
119,374
Helen
of
Troy
Ltd.
(a)
519
111,331
Hilton
Grand
Vacations,
Inc.
(a)
1,895
88,743
Hyatt
Hotels
Corp.,
Class
A
(a)
1,088
103,317
Installed
Building
Products,
Inc.
488
39,269
iRobot
Corp.
(a)
560
28,364
Jack
In
The
Box,
Inc.
454
37,573
KB
Home
1,870
60,644
Kontoor
Brands,
Inc.
1,024
40,684
LCI
Industries
542
52,747
Leggett
&
Platt,
Inc.
2,861
101,937
Leslie's,
Inc.
(a)
2,907
56,977
Levi
Strauss
&
Co.,
Class
A
2,055
37,216
LGI
Homes,
Inc.
467
43,763
Life
Time
Group
Holdings,
Inc.
(a)
806
11,526
Luminar
Technologies,
Inc.,
Class
A
(a)(b)
4,904
60,663
Marriott
Vacations
Worldwide
Corp.
906
135,293
MDC
Holdings,
Inc.
1,215
44,846
Meritage
Homes
Corp.
(a)
792
65,380
Mister
Car
Wash,
Inc.
(a)(b)
851
12,254
Monro
,
Inc.
721
32,971
Murphy
USA,
Inc.
492
114,931
National
Vision
Holdings,
Inc.
(a)(b)
1,768
66,565
Nordstrom,
Inc.
2,393
61,500
Odp
Corp.
(The)
(a)
972
41,825
Ollie's
Bargain
Outlet
Holdings,
Inc.
(a)
1,259
60,495
Overstock.Com,
Inc.
(a)
943
31,647
Papa
John's
International,
Inc.
685
62,369
Petco
Health
&
Wellness
Co.,
Inc.,
Class
A
(a)(b)
1,752
33,744
Planet
Fitness,
Inc.,
Class
A
(a)
1,791
143,334
Polaris,
Inc.
1,226
116,396
Powerschool
Holdings,
Inc.,
Class
A
(a)
841
12,733
Qurate
Retail,
Inc.,
Series
A
7,340
30,901
Ralph
Lauren
Corp.,
Class
A
985
102,775
Red
Rock
Resorts,
Inc.,
Class
A
1,121
49,279
Rent-A-Center,
Inc./
Tx
,
Class
A
1,255
30,271
Revolve
Group,
Inc.,
Class
A
(a)
836
35,329
Scientific
Games
Corp.
(a)
2,068
115,932
SeaWorld
Entertainment,
Inc.
(a)
1,088
73,375
Shake
Shack,
Inc.,
Class
A
(a)
838
48,462
Shutterstock
,
Inc.
494
37,406
Signet
Jewelers
Ltd.
1,132
79,466
Six
Flags
Entertainment
Corp.
(a)
1,609
61,576
Skechers
USA,
Inc.,
Class
A
(a)
2,868
109,844
Skyline
Champion
Corp.
(a)
1,119
57,114
Sleep
Number
Corp.
(a)
502
20,361
Sonos
,
Inc.
(a)(b)
2,682
61,203
Steven
Madden
Ltd.
1,622
66,599
Stitch
Fix,
Inc.,
Class
A
(a)
1,837
17,452
Taylor
Morrison
Home
Corp.,
Class
A
2,605
68,225
Terminix
Global
Holdings,
Inc.
(a)
2,592
118,947
Texas
Roadhouse,
Inc.,
Class
A
1,495
123,083
Thor
Industries,
Inc.
(b)
1,188
90,941
Travel
+
Leisure
Co.
1,849
102,583
TRI
Pointe
Group,
Inc.
2,445
50,538
31
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Consumer
Discretionary
–
11.3%
(continued)
Udemy
,
Inc.
(a)
318
3,469
Urban
Outfitters,
Inc.
(a)
1,423
33,867
Victoria's
Secret
&
Co.
1,529
72,046
Vista
Outdoor,
Inc.
1,254
44,178
Visteon
Corp.
(a)
608
63,664
Vroom,
Inc.
(a)
2,830
4,415
Warby
Parker,
Inc.,
Class
A
(a)(b)
217
5,054
Wendy's
Co.
(The)
3,764
74,377
Wingstop
,
Inc.
640
58,726
Winnebago
Industries,
Inc.
(b)
688
36,588
Wolverine
World
Wide,
Inc.
1,744
34,566
Wyndham
Hotels
&
Resorts,
Inc.
1,989
174,952
Xometry
,
Inc.,
Class
A
(a)(b)
152
4,989
6,235,252
Consumer
Staples
–
4.2%
Beauty
Health
Co.
(The)
(a)
2,019
26,449
Beyond
Meat,
Inc.
(a)(b)
1,258
46,395
BJ's
Wholesale
Club
Holdings,
Inc.
(a)
2,916
187,644
Boston
Beer
Co.,
Inc.
(The),
Class
A
(a)
199
74,625
Casey's
General
Stores,
Inc.
788
158,624
Celsius
Holdings,
Inc.
(a)(b)
825
42,900
Central
Garden
&
Pet
Co.
(a)
195
8,539
Central
Garden
&
Pet
Co.,
Class
A
(a)
821
33,973
Coca-Cola
Consolidated,
Inc.
106
46,799
Coty,
Inc.,
Class
A
(a)
7,523
61,011
Duckhorn
Portfolio,
Inc.
(The)
(a)
655
12,720
Energizer
Holdings,
Inc.
1,350
40,891
Flowers
Foods,
Inc.
4,258
112,922
Freshpet
,
Inc.
(a)
919
85,789
Grocery
Outlet
Holding
Corp.
(a)
1,797
60,505
Hain
Celestial
Group,
Inc.
(The)
(a)
1,948
65,336
Herbalife
Nutrition
Ltd.
(a)
2,093
55,632
Hostess
Brands,
Inc.,
Class
A
(a)
2,996
67,979
Ingredion,
Inc.
1,424
121,197
Inter
Parfums
,
Inc.
404
33,019
J&J
Snack
Foods
Corp.
318
47,605
Lancaster
Colony
Corp.
415
64,400
Medifast
,
Inc.
249
44,412
National
Beverage
Corp.
525
23,142
Performance
Food
Group
Co.
(a)
3,305
162,771
Pilgrim's
Pride
Corp.
(a)
1,100
31,185
Post
Holdings,
Inc.
(a)
1,243
92,467
PriceSmart
,
Inc.
526
41,791
Reynolds
Consumer
Products,
Inc.
1,234
36,514
Sanderson
Farms,
Inc.
448
84,838
Seaboard
Corp.
7
29,575
Simply
Good
Foods
Co.
(The)
(a)
1,855
77,261
Spectrum
Brands
Holdings,
Inc.
889
75,627
Sprouts
Farmers
Market,
Inc.
(a)
2,333
69,523
United
Natural
Foods,
Inc.
(a)
1,190
51,087
WD-40
Co.
284
52,250
2,327,397
Energy
–
5.2%
Antero
Midstream
Corp.
6,918
71,048
Antero
Resources
Corp.
6,087
214,262
Cactus,
Inc.,
Class
A
1,255
62,662
California
Resources
Corp.
1,758
70,689
Callon
Petroleum
Co.
(a)(b)
998
51,167
Championx
Corp.
4,309
90,920
Chesapeake
Energy
Corp.
(b)
2,225
182,495
Clean
Energy
Fuels
Corp.
(a)(b)
3,715
21,770
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Energy
–
5.2%
(continued)
CNX
Resources
Corp.
(a)
4,223
86,783
Denbury,
Inc.
1,063
68,011
Dt
Midstream,
Inc.
2,096
112,660
EQT
Corp.
6,435
255,791
Equitrans
Midstream
Corp.
8,663
68,091
Helmerich
&
Payne,
Inc.
2,249
103,521
Hf
Sinclair
Corp.
(a)
3,186
121,132
Magnolia
Oil
&
Gas
Corp.,
Class
A
(b)
3,151
73,229
Matador
Resources
Co.
2,347
114,581
Murphy
Oil
Corp.
3,099
118,010
New
Fortress
Energy,
Inc.,
Class
A
883
34,243
NOV,
Inc.
8,444
153,090
Oasis
Petroleum,
Inc.
402
53,329
PDC
Energy,
Inc.
2,066
144,083
Range
Resources
Corp.
(a)
5,346
160,059
Renewable
Energy
Group,
Inc.
(a)
1,088
66,433
SM
Energy
Co.
2,568
91,241
Southwestern
Energy
Co.
(a)
23,904
179,280
Valaris
Ltd.
(a)
1,378
69,934
Whiting
Petroleum
Corp.
855
62,458
2,900,972
Financials
–
15.9%
Affiliated
Managers
Group,
Inc.
876
109,999
American
Equity
Investment
Life
Holding
Co.
1,796
67,745
American
National
Group,
Inc.
286
53,942
Ameris
Bancorp
1,434
59,798
Arbor
Realty
Trust,
Inc.
(c)
3,186
54,481
Artisan
Partners
Asset
Management,
Inc.,
Class
A
1,437
46,185
Associated
Banc-Corp.
3,140
62,643
Assured
Guaranty
Ltd.
1,505
83,001
Atlantic
Union
Bankshares
Corp.
1,624
54,859
Axis
Capital
Holdings
Ltd.
1,645
94,308
Axos
Financial,
Inc.
(a)
1,175
44,509
BancFirst
Corp.
416
34,008
Bank
of
Hawaii
Corp.
864
64,230
Bank
OZK
2,564
98,509
BankUnited
,
Inc.
1,826
68,548
Blackstone
Mortgage
Trust,
Inc.,
Class
A
(c)
3,596
108,024
Blue
Owl
Capital,
Inc.,
Class
A
7,094
84,631
BOK
Financial
Corp.
646
53,573
Brighthouse
Financial,
Inc.
1,690
86,798
Brightsphere
Investment
Group,
Inc.
833
16,693
Cadence
Bank
4,028
100,861
Cannae
Holdings,
Inc.
(a)
1,730
38,752
Cathay
General
Bancorp
1,627
65,226
Chimera
Investment
Corp.
(c)
5,047
50,571
CNO
Financial
Group,
Inc.
2,473
59,698
Cohen
&
Steers,
Inc.
534
41,486
Columbia
Banking
System,
Inc.
1,705
47,876
Community
Bank
System,
Inc.
1,151
74,124
CVB
Financial
Corp.
2,898
66,712
Eastern
Bankshares
,
Inc.
3,726
71,390
Enstar
Group
Ltd.
(a)
275
64,831
Essent
Group
Ltd.
2,340
94,840
Evercore
,
Inc.,
Class
A
824
87,138
Federated
Hermes,
Inc.,
Class
B
2,025
57,672
First
Bancorp
4,205
57,230
First
Citizens
BancShares
,
Inc.,
Class
A
287
183,502
First
Financial
Bancorp
1,975
40,389
First
Financial
Bankshares
,
Inc.
2,748
109,865
32
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Financials
–
15.9%
(continued)
First
Hawaiian,
Inc.
2,732
64,503
First
Merchants
Corp.
1,203
47,146
Firstcash
Holdings,
Inc.
856
68,292
Flagstar
Bancorp,
Inc.
1,156
40,807
FNB
Corp.
7,218
83,151
Focus
Financial
Partners,
Inc.,
Class
A
(a)
1,158
45,683
Freedom
Holding
Corp./NV
(a)(b)
383
17,974
Fulton
Financial
Corp.
3,457
52,443
Genworth
Financial,
Inc.,
Class
A
(a)
10,369
38,469
Glacier
Bancorp,
Inc.
2,327
106,484
Goosehead
Insurance,
Inc.,
Class
A
418
24,031
Green
Dot
Corp.,
Class
A
(a)
1,176
31,140
Hamilton
Lane,
Inc.,
Class
A
751
51,504
Hancock
Whitney
Corp.
1,857
86,852
Hannon
Armstrong
Sustainable
Infrastructure
Capital,
Inc.
(c)
1,810
72,382
Hanover
Insurance
Group,
Inc.
(The)
755
110,849
Hilltop
Holdings,
Inc.
1,345
34,284
Hippo
Holdings,
Inc.
(a)
7,445
13,997
Home
Bancshares,
Inc.
3,218
69,573
Houlihan
Lokey
,
Inc.,
Class
A
1,088
90,620
Independent
Bank
Corp.
1,015
78,317
Independent
Bank
Group,
Inc.
787
53,359
Interactive
Brokers
Group,
Inc.,
Class
A
1,864
111,020
International
Bancshares
Corp.
1,153
45,878
Jackson
Financial,
Inc.,
Class
A
1,960
82,928
Janus
Henderson
Group
PLC
3,650
111,252
Kemper
Corp.
1,305
60,239
Kinsale
Capital
Group,
Inc.
459
101,756
Lemonade,
Inc.
(a)(b)
852
17,773
Lendingclub
Corp.
(a)
2,104
32,086
LendingTree
,
Inc.
(a)
252
20,014
Live
Oak
Bancshares,
Inc.
654
27,684
Mercury
General
Corp.
599
30,208
MGIC
Investment
Corp.
6,928
90,480
Moelis
&
Co.,
Class
A
1,299
57,494
Mr
Cooper
Group,
Inc.
(a)
1,598
71,862
Navient
Corp.
3,210
51,007
Nelnet,
Inc.,
Class
A
433
35,536
New
Residential
Investment
Corp.
(c)
10,000
104,000
New
York
Community
Bancorp,
Inc.
9,934
91,790
NMI
Holdings,
Inc.,
Class
A
1,747
32,110
Old
National
Bancorp
6,303
95,553
OneMain
Holdings,
Inc.,
Class
A
2,307
105,961
Open
Lending
Corp.,
Class
A
(a)
2,261
30,840
Oscar
Health,
Inc.,
Class
A
(a)(b)
859
6,322
Pacific
Premier
Bancorp,
Inc.
2,013
63,128
PacWest
Bancorp
2,563
84,297
PennyMac
Financial
Services,
Inc.
650
31,564
Pinnacle
Financial
Partners,
Inc.
1,625
126,019
Popular,
Inc.
1,719
134,065
Primerica,
Inc.
848
109,867
Prog
Holdings,
Inc.
(a)
1,188
31,446
Prosperity
Bancshares,
Inc.
1,969
128,733
Radian
Group,
Inc.
3,847
82,287
RenaissanceRe
Holdings
Ltd.
946
135,770
Renasant
Corp.
1,129
33,633
RLI
Corp.
855
98,137
Rocket
Cos.,
Inc.,
Class
A
(b)
2,778
24,585
Ryan
Specialty
Group
Holdings,
Inc.,
Class
A
(a)(b)
1,238
45,794
Sandy
Spring
Bancorp,
Inc.
955
37,503
Selective
Insurance
Group,
Inc.
1,280
105,421
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Financials
–
15.9%
(continued)
Selectquote
,
Inc.
(a)
2,695
5,552
ServisFirst
Bancshares,
Inc.
1,036
83,212
Silvergate
Capital
Corp.,
Class
A
(a)
652
76,258
Simmons
First
National
Corp.,
Class
A
2,701
64,473
SLM
Corp.
5,913
98,924
South
State
Corp.
1,639
126,924
Stifel
Financial
Corp.
2,237
138,358
Synovus
Financial
Corp.
3,088
128,276
Texas
Capital
Bancshares,
Inc.
(a)
1,101
56,547
TFS
Financial
Corp.
1,022
15,320
Towne
Bank
1,457
40,169
Triumph
Bancorp,
Inc.
(a)
522
36,248
Trupanion
,
Inc.
(a)
720
45,806
UMB
Financial
Corp.
919
82,875
Umpqua
Holdings
Corp.
4,587
75,869
United
Bankshares
,
Inc.
2,908
96,720
United
Community
Banks,
Inc.
2,230
67,212
Unum
Group
4,362
133,128
Valley
National
Bancorp
9,048
108,395
Virtu
Financial,
Inc.,
Class
A
1,763
50,915
Virtus
Investment
Partners,
Inc.
152
26,928
Walker
&
Dunlop,
Inc.
641
76,766
Washington
Federal,
Inc.
1,354
41,202
Webster
Financial
Corp.
3,842
192,062
WesBanco
,
Inc.
1,289
41,557
White
Mountains
Insurance
Group
Ltd.
64
67,073
Wintrust
Financial
Corp.
1,221
106,618
WSFS
Financial
Corp.
1,391
55,737
8,765,673
Health
Care
–
13.0%
1Life
Healthcare,
Inc.
(a)
3,531
24,894
Acadia
Healthcare
Co.,
Inc.
(a)
1,921
130,398
ACADIA
Pharmaceuticals,
Inc.
(a)
2,429
44,791
Accolade,
Inc.
(a)
1,254
6,972
Adagio
Therapeutics,
Inc.
(a)
386
1,104
AdaptHealth
Corp.,
Class
A
(a)(b)
1,943
24,598
Adaptive
Biotechnologies
Corp.
(a)
2,223
18,340
Agiliti
,
Inc.
(a)
575
11,351
Agios
Pharmaceuticals,
Inc.
(a)(b)
1,122
24,650
Alignment
Healthcare,
Inc.
(a)
634
6,093
Alkermes
PLC
(a)
3,448
99,475
Allakos
,
Inc.
(a)
773
2,914
Allogene
Therapeutics,
Inc.
(a)
1,666
13,911
ALX
Oncology
Holdings,
Inc.
(a)
480
6,134
Amedisys
,
Inc.
(a)
687
87,696
Amicus
Therapeutics,
Inc.
(a)
5,204
36,844
AMN
Healthcare
Services,
Inc.
(a)
1,008
98,532
Apellis
Pharmaceuticals,
Inc.
(a)
1,894
82,446
Apollo
Medical
Holdings,
Inc.
(a)(b)
810
29,549
Arcus
Biosciences,
Inc.
(a)
1,021
24,718
Arrowhead
Pharmaceuticals,
Inc.
(a)
2,255
92,703
Arvinas
,
Inc.
(a)
919
50,517
AtriCure
,
Inc.
(a)
1,010
52,449
Axonics
,
Inc.
(a)
1,008
52,235
Beam
Therapeutics,
Inc.
(a)(b)
965
36,216
BioCryst
Pharmaceuticals,
Inc.
(a)
3,796
35,265
Blueprint
Medicines
Corp.
(a)
1,234
72,004
Caredx
,
Inc.
(a)
1,120
34,093
Cerevel
Therapeutics
Holdings,
Inc.
(a)
1,178
34,492
Certara
,
Inc.
(a)
2,260
41,471
Change
Healthcare,
Inc.
(a)
5,411
127,483
33
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Health
Care
–
13.0%
(continued)
ChemoCentryx
,
Inc.
(a)
1,020
18,829
CONMED
Corp.
617
82,036
Corcept
Therapeutics,
Inc.
(a)
2,042
43,923
Corvel
Corp.
(a)
209
32,412
Covetrus
,
Inc.
2,272
31,354
CRISPR
Therapeutics
AG
(a)
1,504
74,628
Cryoport
,
Inc.
(a)
1,086
24,500
Cytek
Biosciences,
Inc.
(a)
274
2,589
Cytokinetics,
Inc.
(a)(b)
1,791
71,407
Definitive
Healthcare
Corp.,
Class
A
(a)
542
12,818
Denali
Therapeutics,
Inc.
(a)
1,926
45,839
Doximity
,
Inc.,
Class
A
(a)(b)
1,974
78,703
Editas
Medicine,
Inc.,
Class
A
(a)(b)
1,483
19,635
Emergent
BioSolutions
,
Inc.
(a)
1,065
34,485
Encompass
Health
Corp.
2,114
145,507
Enovis
Corp.
(a)
949
61,562
Ensign
Group,
Inc.
(The)
1,118
89,809
Envista
Holdings
Corp.
(a)
3,448
136,610
Erasca
,
Inc.
(a)(b)
363
2,643
Evolent
Health,
Inc.,
Class
A
(a)
1,703
46,867
Exelixis
,
Inc.
(a)
6,778
151,421
Fate
Therapeutics,
Inc.
(a)
1,716
49,009
Figs,
Inc.,
Class
A
(a)(b)
728
11,401
Fulgent
Genetics,
Inc.
(a)
416
22,830
Glaukos
Corp.
(a)
1,013
47,905
Global
Blood
Therapeutics,
Inc.
(a)
1,222
37,515
Globus
Medical,
Inc.,
Class
A
(a)
1,684
111,514
Haemonetics
Corp.
(a)
1,118
56,649
Halozyme
Therapeutics,
Inc.
(a)
3,018
120,418
Health
Catalyst,
Inc.
(a)(b)
1,119
18,620
HealthEquity
,
Inc.
(a)
1,792
111,677
Heska
Corp.
(a)(b)
220
24,165
ICU
Medical,
Inc.
(a)
429
91,802
Immunitybio
,
Inc.
(a)(b)
1,424
5,169
Inari
Medical,
Inc.
(a)
712
57,458
Insmed
,
Inc.
(a)
2,575
56,573
Inspire
Medical
Systems,
Inc.
(a)
583
119,958
Instil
Bio,
Inc.
(a)
384
2,715
Integer
Holdings
Corp.
(a)
717
53,897
Integra
LifeSciences
Holdings
Corp.
(a)
1,567
95,838
Intra-Cellular
Therapies,
Inc.
(a)
1,818
92,009
Invitae
Corp.
(a)
4,416
23,449
Ionis
Pharmaceuticals,
Inc.
(a)
3,020
111,015
Iovance
Biotherapeutics
,
Inc.
(a)
2,939
44,526
iRhythm
Technologies,
Inc.
(a)
635
78,340
Karuna
Therapeutics,
Inc.
(a)
485
54,058
Kodiak
Sciences,
Inc.
(a)
740
4,455
Kymera
Therapeutics,
Inc.
(a)(b)
749
23,481
LHC
Group,
Inc.
(a)
678
112,446
Lifestance
Health
Group,
Inc.
(a)
798
5,402
Ligand
Pharmaceuticals,
Inc.
(a)
340
31,572
LivaNova
PLC
(a)
1,128
86,472
Maravai
Lifesciences
Holdings,
Inc.,
Class
A
(a)
2,328
71,539
MEDNAX,
Inc.
(a)
1,758
32,558
Medpace
Holdings,
Inc.
(a)
608
81,211
Merit
Medical
Systems,
Inc.
(a)
1,102
68,335
Multiplan
Corp.
(a)(b)
5,580
24,719
Myriad
Genetics,
Inc.
(a)
1,751
35,896
Nanostring
Technologies,
Inc.
(a)
1,020
19,156
Nektar
Therapeutics,
Class
A
(a)
3,733
15,417
Neogen
Corp.
(a)
2,297
60,641
NeoGenomics
,
Inc.
(a)
2,559
24,183
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Health
Care
–
13.0%
(continued)
Nevro
Corp.
(a)
744
45,897
NuVasive
,
Inc.
(a)
1,125
57,870
Ocugen
,
Inc.
(a)(b)
4,505
9,866
Omnicell
,
Inc.
(a)
937
102,292
OPKO
Health,
Inc.
(a)(b)
8,863
23,930
Option
Care
Health,
Inc.
(a)
2,998
89,580
Ortho-Clinical
Diagnostics
Holdings
PLC,
Class
A
(a)
2,528
44,518
Outset
Medical,
Inc.
(a)
883
30,799
Owens
&
Minor,
Inc.
1,594
56,571
Pacific
Biosciences
of
California,
Inc.
(a)
4,656
29,519
Pacira
BioSciences
,
Inc.
(a)
955
71,214
Patterson
Cos.,
Inc.
1,836
56,494
Perrigo
Co.
PLC
2,850
97,755
Phreesia
,
Inc.
(a)
1,121
25,648
Premier,
Inc.,
Class
A
2,578
93,349
Prestige
Consumer
Healthcare,
Inc.
(a)
1,092
59,689
Privia
Health
Group,
Inc.
(a)(b)
566
12,446
Progyny
,
Inc.
(a)
1,524
58,598
Prothena
Corp.
PLC
763
22,249
PTC
Therapeutics,
Inc.
(a)
1,505
53,172
Quidel
Corp.
(a)
802
80,697
R1
RCM,
Inc.
(a)
2,917
65,691
Reata
Pharmaceuticals,
Inc.,
Class
A
(a)(b)
607
15,406
Recursion
Pharmaceuticals,
Inc.,
Class
A
(a)(b)
565
3,503
Relay
Therapeutics,
Inc.
(a)(b)
1,647
39,248
REVOLUTION
Medicines,
Inc.
(a)
1,344
26,840
Sage
Therapeutics,
Inc.
(a)
1,122
35,365
Sana
Biotechnology,
Inc.
(a)(b)
1,860
14,043
Sarepta
Therapeutics,
Inc.
(a)
1,858
134,371
Schrodinger,
Inc.
(a)
1,038
25,659
Seer,
Inc.,
Class
A
(a)
768
5,591
Select
Medical
Holdings
Corp.
2,328
52,636
Sharecare
,
Inc.
(a)
5,854
16,040
Shockwave
Medical,
Inc.
(a)
751
113,499
Signify
Health,
Inc.,
Class
A
(a)
529
7,300
Sotera
Health
Co.
(a)
2,075
42,289
Springworks
Therapeutics,
Inc.
(a)
565
24,244
STAAR
Surgical
Co.
(a)
1,015
57,946
Surgery
Partners,
Inc.
(a)
753
38,523
Tenet
Healthcare
Corp.
(a)
2,283
165,540
TG
Therapeutics,
Inc.
(a)
2,935
20,369
Tilray
,
Inc.,
Class
2
(a)(b)
9,371
46,668
Turning
Point
Therapeutics,
Inc.
(a)
1,093
32,178
Twist
Bioscience
Corp.
(a)
1,153
33,253
Ultragenyx
Pharmaceutical,
Inc.
(a)
1,462
103,349
Veracyte
,
Inc.
(a)
1,447
29,620
Vericel
Corp.
(a)(b)
997
28,415
Verve
Therapeutics,
Inc.
(a)(b)
284
4,237
Vir
Biotechnology,
Inc.
(a)
1,525
31,034
Xencor
,
Inc.
(a)
1,250
31,225
Zentalis
Pharmaceuticals,
Inc.
(a)
788
20,898
7,195,041
Industrials
–
15.7%
AAON,
Inc.
897
43,720
ABM
Industries,
Inc.
1,477
71,295
Acuity
Brands,
Inc.
745
128,498
Aerojet
Rocketdyne
Holdings,
Inc.
(a)
1,635
65,367
AeroVironment
,
Inc.
(a)(b)
504
40,481
Air
Lease
Corp.,
Class
A
2,297
92,523
Alaska
Air
Group,
Inc.
(a)
2,702
146,962
34
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Industrials
–
15.7%
(continued)
Albany
International
Corp.,
Class
A
691
54,050
Alight,
Inc.
(a)
5,233
44,951
Allegiant
Travel
Co.,
Class
A
(a)
327
50,747
Allison
Transmission
Holdings,
Inc.
2,225
83,304
Altra
Industrial
Motion
Corp.
1,391
54,249
Ameresco
,
Inc.,
Class
A
(a)(b)
668
33,694
APi
Group
Corp.
4,406
81,775
Applied
Industrial
Technologies,
Inc.
825
86,369
Arcosa
,
Inc.
1,040
55,671
Armstrong
World
Industries,
Inc.
1,009
85,422
Array
Technologies,
Inc.
(a)(b)
2,594
16,939
ASGN,
Inc.
(a)
1,123
127,404
Atkore
,
Inc.
(a)
991
95,235
Azek
Co.,
Inc.
(The),
Class
A
(a)
2,436
51,741
Barnes
Group,
Inc.
987
33,143
Beacon
Roofing
Supply,
Inc.
(a)
1,211
72,212
Bloom
Energy
Corp.,
Class
A
(a)
3,173
58,891
Boise
Cascade
Co.
847
64,016
Brady
Corp.,
Class
A
1,053
47,122
Brink's
Co.
(The)
1,053
62,074
BWX
Technologies,
Inc.
1,962
101,867
CACI
International,
Inc.,
Class
A
(a)
495
131,324
Casella
Waste
Systems,
Inc.,
Class
A
(a)
1,077
88,573
Chart
Industries,
Inc.
(a)(b)
753
127,121
Cimpress
PLC
(a)
420
21,214
Clean
Harbors,
Inc.
(a)
1,066
111,855
Comfort
Systems
USA,
Inc.
769
64,919
Core
&
Main,
Inc.,
Class
A
(a)(b)
1,211
28,773
Crane
Co.
1,064
102,389
Curtiss-Wright
Corp.
848
121,188
Driven
Brands
Holdings,
Inc.
(a)
1,199
33,440
Dycom
Industries,
Inc.
(a)
645
54,767
EMCOR
Group,
Inc.
1,152
122,665
Encore
Wire
Corp.
417
47,042
EnerSys
878
57,474
Enovix
Corp.
(a)
2,059
18,613
ESCO
Technologies,
Inc.
570
35,597
Ess
Tech,
Inc.
(a)
1,353
7,536
Evoqua
Water
Technologies
Corp.
(a)
2,589
107,935
Exponent,
Inc.
1,122
107,499
Federal
Signal
Corp.
1,326
45,124
First
Advantage
Corp.
(a)
877
15,225
Flowserve
Corp.
2,830
92,569
Fluor
Corp.
(a)
3,013
74,572
Forward
Air
Corp.
575
55,758
Franklin
Electric
Co.,
Inc.
823
57,561
Frontier
Group
Holdings,
Inc.
(a)(b)
725
7,692
FTI
Consulting,
Inc.
(a)
728
114,813
FuelCell
Energy,
Inc.
(a)(b)
8,054
32,860
Gates
Industrial
Corp.
PLC
(a)
2,121
27,043
GATX
Corp.
756
78,163
Gibraltar
Industries,
Inc.
(a)
679
25,693
GrafTech
International
Ltd.
4,423
40,161
Hayward
Holdings,
Inc.
(a)(b)
943
14,994
Helios
Technologies,
Inc.
688
46,220
Herc
Holdings,
Inc.
539
68,895
Hexcel
Corp.
1,824
99,153
Hillenbrand,
Inc.
1,556
63,516
Hub
Group,
Inc.,
Class
A
(a)
738
49,564
Insperity
,
Inc.
759
80,492
JELD-WEN
Holding,
Inc.
(a)
1,924
40,000
JetBlue
Airways
Corp.
(a)
6,783
74,681
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Industrials
–
15.7%
(continued)
Joby
Aviation
Inc.
(a)(b)
5,516
28,904
John
Bean
Technologies
Corp.
689
81,226
Kadant
,
Inc.
248
45,880
KBR,
Inc.
3,014
148,379
Kennametal,
Inc.
1,837
47,266
Kirby
Corp.
(a)
1,280
83,456
Korn
Ferry
1,155
70,963
Kratos
Defense
&
Security
Solutions,
Inc.
(a)
2,641
40,064
Landstar
System,
Inc.
789
122,216
ManpowerGroup
,
Inc.
1,168
105,354
ManTech
International
Corp.,
Class
A
587
47,160
Masonite
International
Corp.
(a)
516
40,000
MasTec
,
Inc.
(a)
1,258
90,589
Matson,
Inc.
895
76,988
MDU
Resources
Group,
Inc.
4,338
111,747
Mercury
Systems,
Inc.
(a)
1,209
67,450
Microvast
Holdings,
Inc.
(a)(b)
4,874
24,175
Millerknoll
,
Inc.
1,661
52,704
Moog,
Inc.,
Class
A
617
49,280
MSA
Safety,
Inc.
780
94,138
MSC
Industrial
Direct
Co.,
Inc.,
Class
A
1,024
84,849
Mueller
Industries,
Inc.
1,216
65,846
Mueller
Water
Products,
Inc.,
Class
A
3,367
40,505
Nikola
Corp.
(a)(b)
4,547
32,647
nVent
Electric
PLC
3,593
121,372
Parsons
Corp.
(a)
588
21,715
Proterra
,
Inc.
(a)(b)
3,842
23,859
RBC
Bearings,
Inc.
(a)
617
103,872
Resideo
Technologies,
Inc.
3,072
69,089
Rocket
Lab
USA,
Inc.
(a)
2,993
22,088
Rush
Enterprises,
Inc.,
Class
A
922
46,911
Ryder
System,
Inc.
1,151
80,455
Schneider
National,
Inc.,
Class
B
788
18,620
Science
Applications
International
Corp.
1,221
101,624
Shoals
Technologies
Group,
Inc.,
Class
A
(a)
2,260
22,555
Simpson
Manufacturing
Co.,
Inc.
930
96,413
SkyWest,
Inc.
(a)
1,075
31,336
Spirit
AeroSystems
Holdings,
Inc.,
Class
A
2,279
95,809
Spirit
Airlines,
Inc.
(a)(b)
2,377
56,121
SPX
Corp.
(a)
988
41,397
Stem,
Inc.
(a)
2,837
20,341
Stericycle,
Inc.
(a)
1,957
98,222
Terex
Corp.
1,494
50,796
Timken
Co.
(The)
1,487
85,711
TriNet
Group,
Inc.
(a)
853
75,661
Trinity
Industries,
Inc.
1,745
48,406
Triton
International
Ltd.
1,423
86,931
UFP
Industries,
Inc.
1,329
102,825
UniFirst
Corp.
321
55,308
Univar
Solutions,
Inc.
(a)
3,642
106,055
Upwork
,
Inc.
(a)
2,562
53,725
Valmont
Industries,
Inc.
453
112,711
Vicor
Corp.
(a)
472
28,565
Virgin
Galactic
Holdings,
Inc.
(a)(b)
3,886
29,106
Watts
Water
Technologies,
Inc.,
Class
A
583
74,309
Welbilt
,
Inc.
2,845
67,199
Werner
Enterprises,
Inc.
1,284
50,885
WESCO
International,
Inc.
(a)
957
117,960
Willscot
Mobile
Mini
Holdings
Corp.,
Class
A
(a)
4,746
166,585
Zurn
Water
Solutions
Corp.
2,676
83,545
8,664,263
35
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Information
Technology
–
14.7%
3D
Systems
Corp.
(a)
2,764
31,344
8x8,
Inc.
(a)
2,494
22,870
ACI
Worldwide,
Inc.
(a)
2,550
70,431
Advanced
Energy
Industries,
Inc.
786
60,145
Alarm.com
Holdings,
Inc.
(a)
969
59,186
Allegro
Microsystems,
Inc.
(a)
1,225
29,780
Alliance
Data
Systems
Corp.
(b)
1,059
58,033
Altair
Engineering,
Inc.,
Class
A
(a)
1,111
60,350
Alteryx
,
Inc.,
Class
A
(a)
1,271
81,598
Ambarella
,
Inc.
(a)
800
65,664
Amkor
Technology,
Inc.
2,201
41,401
Amplitude,
Inc.,
Class
A
(a)
454
7,927
Appfolio
,
Inc.,
Class
A
(a)
419
43,517
Appian
Corp.,
Class
A
(a)
876
41,873
Avidxchange
Holdings,
Inc.
(a)
476
3,898
Avnet,
Inc.
2,115
92,341
Badger
Meter,
Inc.
645
52,045
Belden,
Inc.
967
49,926
BigCommerce
Holdings,
Inc.,
Series
1
(a)
1,288
23,017
Blackbaud
,
Inc.
(a)
950
55,109
Blackline,
Inc.
(a)
1,121
75,163
Box,
Inc.,
Class
A
(a)
3,184
97,494
C3.ai,
Inc.,
Class
A
(a)(b)
1,550
26,334
Calix,
Inc.
(a)
1,189
47,453
CDK
Global,
Inc.
2,531
137,712
Cerence
,
Inc.
833
24,573
Cirrus
Logic,
Inc.
(a)
1,221
92,552
Clear
Secure,
Inc.,
Class
A
(a)
238
7,240
CMC
Materials,
Inc.
613
109,672
Coherent,
Inc.
(a)
528
141,451
CommScope
Holding
Co,
Inc.
(a)
4,474
26,978
CommVault
Systems,
Inc.
(a)
936
57,096
Corsair
Gaming,
Inc.
(a)
741
11,211
CS
Disco,
Inc.
(a)(b)
245
7,524
Datto
Holding
Corp.
(a)
615
21,340
Diodes,
Inc.
(a)
955
69,744
Dolby
Laboratories,
Inc.,
Class
A
1,412
109,388
Domo,
Inc.,
Class
B
(a)
596
24,686
Doubleverify
Holdings,
Inc.
(a)
433
9,418
Duck
Creek
Technologies,
Inc.
(a)
1,678
26,731
E2open
Parent
Holdings,
Inc.
(a)(b)
3,665
28,367
Envestnet
,
Inc.
(a)
1,160
92,382
Euronet
Worldwide,
Inc.
(a)
1,127
137,100
Everbridge
,
Inc.
(a)
853
36,764
EVERTEC,
Inc.
1,325
52,205
ExlService
Holdings,
Inc.
(a)
712
96,939
Fabrinet
(a)
785
77,079
Fastly
,
Inc.,
Class
A
(a)
2,323
36,936
Flywire
Corp.
(a)
219
6,682
FormFactor
,
Inc.
(a)
1,701
64,825
II-VI,
Inc.
(a)
2,261
138,396
Informatica
,
Inc.,
Class
A
(a)(b)
609
11,851
Insight
Enterprises,
Inc.
(a)
751
74,627
InterDigital
,
Inc.
676
38,431
Ionq
,
Inc.
(a)
2,390
18,809
Itron
,
Inc.
(a)
989
47,254
Jamf
Holding
Corp.
(a)(b)
1,220
37,576
JFrog
Ltd.
(a)
953
19,889
Kulicke
&
Soffa
Industries,
Inc.
1,346
62,468
Littelfuse
,
Inc.
524
120,127
LivePerson
,
Inc.
(a)
1,423
32,188
LiveRamp
Holdings,
Inc.
(a)
1,458
45,665
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Information
Technology
–
14.7%
(continued)
Lumentum
Holdings,
Inc.
1,529
124,170
MACOM
Technology
Solutions
Holdings,
Inc.
(a)
1,020
51,969
Mandiant
,
Inc.
(a)
5,113
112,384
Marathon
Digital
Holdings,
Inc.
(a)(b)
2,101
32,776
Marqeta
,
Inc.,
Class
A
(a)
4,885
45,430
Matterport
,
Inc.
(a)
3,871
22,220
MAXIMUS,
Inc.
1,309
95,400
MaxLinear
,
Inc.,
Class
A
(a)
1,524
72,954
Microstrategy
,
Inc.,
Class
A
(a)(b)
197
69,771
Mimecast
Ltd.
(a)
1,323
105,417
Momentive
Global,
Inc.
(a)
2,791
44,154
N-Able,
Inc.
1,301
13,010
National
Instruments
Corp.
2,810
101,553
Ncino
,
Inc.
(a)
1,239
46,450
NCR
Corp.
(a)
2,827
99,030
New
Relic,
Inc.
(a)
1,276
80,733
Novanta
,
Inc.
(a)
753
96,911
Nutanix
,
Inc.,
Class
A
(a)
4,652
116,440
Onto
Innovation,
Inc.
(a)
1,054
74,982
PagerDuty
,
Inc.
(a)
1,636
46,741
Paycor
Hcm
,
Inc.
(a)
631
15,542
Payoneer
Global,
Inc.
(a)
4,072
17,021
Perficient
,
Inc.
(a)
706
70,183
Ping
Identity
Holding
Corp.
(a)
1,324
34,596
Plexus
Corp.
(a)
623
50,550
Power
Integrations,
Inc.
1,273
101,840
Pure
Storage,
Inc.,
Class
A
(a)
5,805
170,086
Q2
Holdings,
Inc.
(a)
1,217
62,955
Qualtrics
International,
Inc.,
Class
A
(a)
2,025
37,543
Qualys
,
Inc.
(a)
722
98,394
Rackspace
Technology,
Inc.
(a)
1,392
13,767
Rambus,
Inc.
(a)
2,294
57,144
Rapid7,
Inc.
(a)
1,224
116,916
Riot
Blockchain
,
Inc.
(a)(b)
2,127
21,568
Rogers
Corp.
(a)
404
109,371
Sabre
Corp.
(a)(b)
6,942
72,683
Sailpoint
Technologies
Holdings,
Inc.
(a)
1,997
127,468
Sanmina
Corp.
(a)
1,345
54,997
Semtech
Corp.
(a)
1,355
80,758
Sentinelone
,
Inc.,
Class
A
(a)
2,863
95,252
Shift4
Payments,
Inc.,
Class
A
(a)(b)
1,118
58,650
Silicon
Laboratories,
Inc.
(a)
819
110,491
Sitime
Corp.
(a)
319
53,774
Smartrent
,
Inc.,
Class
A
(a)
1,734
8,427
Solarwinds
Corp.
1,086
13,434
Sprout
Social,
Inc.,
Class
A
(a)
990
60,667
SPS
Commerce,
Inc.
(a)
767
91,756
Squarespace,
Inc.
(a)
554
11,063
Sunpower
Corp.,
Class
A
(a)(b)
1,861
30,725
Switch,
Inc.,
Class
A
2,806
83,787
Synaptics
,
Inc.
(a)
836
124,096
TD
Synnex
Corp.
884
88,480
Tenable
Holdings,
Inc.
(a)
1,983
109,521
Teradata
Corp.
(a)
2,321
95,973
TTEC
Holdings,
Inc.
387
28,564
Ultra
Clean
Holdings,
Inc.
(a)
999
31,139
Varonis
Systems,
Inc.,
Class
B
(a)
2,295
99,144
Verint
Systems,
Inc.
(a)
1,426
77,803
Verra
Mobility
Corp.,
Class
A
(a)
2,822
39,593
ViaSat
,
Inc.
(a)
1,559
57,387
Viavi
Solutions,
Inc.
(a)
5,043
72,317
Vishay
Intertechnology
,
Inc.
2,904
54,102
36
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Information
Technology
–
14.7%
(continued)
Vonage
Holdings
Corp.
(a)
5,340
106,586
Vontier
Corp.
3,602
92,283
WEX,
Inc.
(a)
952
158,260
Workiva
,
Inc.,
Class
A
(a)
956
92,264
Xerox
Holdings
Corp.
2,559
44,527
Zuora
,
Inc.,
Class
A
(a)
2,397
29,171
8,135,888
Materials
–
5.2%
Amyris
,
Inc.
(a)(b)
4,240
14,543
Arconic
Corp.
2,252
56,660
Ashland
Global
Holdings,
Inc.
1,120
117,566
Avient
Corp.
1,962
96,609
Balchem
Corp.
686
84,515
Cabot
Corp.
1,213
79,876
Chemours
Co.
(The)
3,433
113,529
Commercial
Metals
Co.
2,610
107,010
Compass
Minerals
International,
Inc.
731
43,224
Diversey
Holdings
Ltd.
(a)
1,021
7,903
Eagle
Materials,
Inc.
848
104,575
Element
Solutions,
Inc.
4,642
95,718
Graphic
Packaging
Holding
Co.
6,017
131,171
Greif,
Inc.,
Class
A
587
35,619
HB
Fuller
Co.
1,121
74,771
Hecla
Mining
Co.
11,559
60,222
Huntsman
Corp.
4,439
150,349
Ingevity
Corp.
859
51,454
Innospec
,
Inc.
523
49,847
Livent
Corp.
(a)
3,418
73,009
Louisiana-Pacific
Corp.
1,893
122,136
Minerals
Technologies,
Inc.
717
45,608
MP
Materials
Corp.
(a)(b)
1,595
60,674
NewMarket
Corp.
(b)
144
46,744
Pactiv
Evergreen,
Inc.
1,085
10,698
Quaker
Chemical
Corp.
(b)
284
46,210
Ranpak
Holdings
Corp.,
Class
A
(a)
861
12,984
Royal
Gold,
Inc.
1,406
183,455
Sensient
Technologies
Corp.
886
74,956
Silgan
Holdings,
Inc.
1,800
79,866
Sonoco
Products
Co.
2,100
130,011
Stepan
Co.
445
45,439
Summit
Materials,
Inc.,
Class
A
(a)
2,529
70,306
Trinseo
PLC
(b)
823
39,051
Tronox
Holdings
PLC
2,500
43,000
U.S.
Steel
Corp.
5,541
168,945
Valvoline,
Inc.
3,829
115,751
Worthington
Industries,
Inc.
692
32,919
2,876,923
Real
Estate
–
8.5%
Agree
Realty
Corp.
(c)
1,517
103,035
American
Assets
Trust,
Inc.
(c)
1,120
40,992
American
Campus
Communities,
Inc.
(c)
2,980
192,717
Apple
Hospitality
REIT,
Inc.
(c)
4,526
80,065
Brandywine
Realty
Trust
(c)
3,489
40,717
Brixmor
Property
Group,
Inc.
(c)
6,337
160,833
Corporate
Office
Properties
Trust
(c)
2,395
63,923
Cousins
Properties,
Inc.
(c)
3,166
113,659
Cushman
&
Wakefield
PLC
(a)
3,228
57,781
Digitalbridge
Group,
Inc.
(a)(c)
11,053
76,929
Douglas
Emmett,
Inc.
(c)
3,729
109,856
EastGroup
Properties,
Inc.
(c)
865
162,187
EPR
Properties
(c)
1,636
85,923
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Real
Estate
–
8.5%
(continued)
Equity
Commonwealth
(a)(c)
2,365
61,939
Essential
Properties
Realty
Trust,
Inc.
(c)
2,594
62,256
eXp
World
Holdings,
Inc.
(b)
1,461
19,563
First
Industrial
Realty
Trust,
Inc.
(c)
2,773
160,834
Four
Corners
Property
Trust,
Inc.
(c)
1,654
45,419
Healthcare
Realty
Trust,
Inc.
(c)
3,139
85,004
Healthcare
Trust
of
America,
Inc.,
Class
A
(c)
4,730
144,076
Highwoods
Properties,
Inc.
(c)
2,257
92,176
Howard
Hughes
Corp.
(The)
(a)
899
90,161
Hudson
Pacific
Properties,
Inc.
(b)(c)
3,250
75,660
Independence
Realty
Trust,
Inc.
(c)
4,678
127,522
Innovative
Industrial
Properties,
Inc.,
Class
A
(c)
582
84,151
JBG
SMITH
Properties
(c)
2,395
63,132
Kennedy-Wilson
Holdings,
Inc.
2,592
58,450
Kite
Realty
Group
Trust
(c)
4,675
104,252
Lxp
Industrial
Trust,
Class
B
(c)
6,099
76,542
Macerich
Co.
(The)
(b)(c)
4,471
56,111
National
Health
Investors,
Inc.
(c)
991
51,066
National
Storage
Affiliates
Trust
(c)
1,773
100,352
Newmark
Group,
Inc.,
Class
A
3,450
41,917
OMEGA
Healthcare
Investors,
Inc.
(c)
5,107
130,126
Outfront
Media,
Inc.
(c)
3,100
79,360
Park
Hotels
&
Resorts,
Inc.
(c)
5,133
101,171
Pebblebrook
Hotel
Trust
(c)
2,880
70,330
Physicians
Realty
Trust
(c)
4,775
81,844
Piedmont
Office
Realty
Trust,
Inc.,
Class
A
(c)
2,532
40,765
PotlatchDeltic
Corp.
(c)
1,471
81,479
PS
Business
Parks,
Inc.
(c)
425
79,560
Rayonier,
Inc.
(c)
3,104
134,093
Redfin
Corp.
(a)(b)
2,185
24,363
RLJ
Lodging
Trust
(c)
3,668
51,425
Ryman
Hospitality
Properties,
Inc.
(a)(c)
1,188
111,054
Sabra
Health
Care
REIT,
Inc.
(c)
4,894
57,162
Safehold
,
Inc.
(c)
282
12,140
SITE
Centers
Corp.
(c)
3,925
62,408
SL
Green
Realty
Corp.
(c)
1,362
94,278
Spirit
Realty
Capital,
Inc.
(c)
2,728
118,532
St
Joe
Co.
(The)
710
37,779
STAG
Industrial,
Inc.
(c)
3,808
142,115
Sunstone
Hotel
Investors,
Inc.
(a)(c)
4,691
57,465
Terreno
Realty
Corp.
(c)
1,595
116,036
Uniti
Group,
Inc.
(c)
5,085
63,003
Urban
Edge
Properties
(c)
2,344
43,809
Wework
,
Inc.,
Class
A
(a)
4,386
30,746
4,710,243
Utilities
–
3.5%
ALLETE,
Inc.
1,190
70,615
American
States
Water
Co.
790
62,141
Avista
Corp.
1,527
61,950
Black
Hills
Corp.
1,356
99,313
California
Water
Service
Group
1,085
56,279
Chesapeake
Utilities
Corp.
374
46,814
Clearway
Energy,
Inc.,
Class
A
680
19,326
Clearway
Energy,
Inc.,
Class
C
1,820
55,565
Hawaiian
Electric
Industries,
Inc.
2,327
95,663
IDACORP,
Inc.
1,081
113,700
MGE
Energy,
Inc.
798
62,140
National
Fuel
Gas
Co.
1,961
137,525
New
Jersey
Resources
Corp.
2,093
90,334
NorthWestern
Corp.
(b)
1,150
65,194
OGE
Energy
Corp.
4,271
165,202
37
(a)
Non-income
producing
security.
(b)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$3,110,683
and
the
value
of
the
collateral
was
$3,339,214,
consisting
of
cash
collateral
of
$1,131,310
and
U.S.
Government
&
Agency
securities
valued
at
$2,207,904.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(c)
Investment
in
a
real
estate
investment
trust.
(d)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
(e)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.8%
(continued)
Utilities
–
3.5%
(continued)
ONE
Gas,
Inc.
1,146
96,688
Ormat
Technologies,
Inc.
(b)
973
75,602
Otter
Tail
Corp.
910
52,744
PNM
Resources,
Inc.
1,861
86,834
Portland
General
Electric
Co.
1,912
90,495
South
Jersey
Industries,
Inc.
2,397
81,953
Southwest
Gas
Holdings,
Inc.
1,400
123,354
Spire,
Inc.
1,100
80,025
Sunnova
Energy
International,
Inc.
(a)(b)
1,920
33,158
1,922,614
Total
Common
Stocks
(cost
$67,215,666)
55,158,684
Investment
Companies
–
0.1%
Registered
Investment
Companies
–
0.1%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$72,876)
72,876
72,876
Investment
of
Cash
Collateral
for
Securities
Loaned
–
2.1%
Registered
Investment
Companies
–
2.1%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$1,131,310)
1,131,310
1,131,310
Total
Investments
(cost
$68,419,852)
102.0%
56,362,870
Liabilities,
Less
Cash
and
Receivables
(2.0)%
(1,092,741)
Net
Assets
100.0%
55,270,129
REIT—Real
Estate
Investment
Trust
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
353,878
2,324,725
(2,605,727)
—
—
72,876
0.1
82
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
4,718,610
10,507,623
(14,094,923)
—
—
1,131,310
2.1
30,955
2
Total
5,072,488
12,832,348
(16,700,650)
—
—
1,204,186
2.2
31,037
1
Includes
reinvested
dividends/distributions.
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
38
STATEMENT
OF
INVESTMENTS
(continued)
See
Notes
to
Financial
Statements
Portfolio
Summary
(Unaudited)
†
Value
(%)
Financials
15.9
Industrials
15.7
Information
Technology
14.7
Health
Care
13.0
Consumer
Discretionary
11.3
Real
Estate
8.5
Energy
5.2
Materials
5.2
Consumer
Staples
4.2
Utilities
3.5
Communication
Services
2.6
Registered
Investment
Companies
2.2
102.0
†
Based
on
net
assets.
Futures
Description
Number
of
Contracts
Expiration
Notional
Value
($)
Market
Value
($)
Unrealized
Appreciation
(Depreciation)
($)
Futures
Long
Russell
2000
E-mini
1
6/17/2022
98,707
93,065
(5,642)
39
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
International
Equity
ETF
Description
Shares
Value
($)
Common
Stocks
–
99.0%
Australia
–
7.9%
APA
Group
5,528
45,138
Aristocrat
Leisure
Ltd.
4,740
113,383
ASX
Ltd.
1,375
84,689
Australia
&
New
Zealand
Banking
Group
Ltd.
20,017
388,345
BHP
Group
Ltd.
21,637
738,219
BHP
Group
Ltd.
12,756
436,411
BlueScope
Steel
Ltd.
3,506
51,176
Brambles
Ltd.
9,335
69,988
Cochlear
Ltd.
391
64,392
Coles
Group
Ltd.
9,493
126,154
Commonwealth
Bank
of
Australia
11,554
852,945
Computershare
Ltd.
3,853
69,357
CSL
Ltd.
3,282
637,433
Dexus
(a)
8,356
66,330
Domino's
Pizza
Enterprises
Ltd.
429
22,960
Endeavour
Group
Ltd./Australia
7,664
42,482
Fortescue
Metals
Group
Ltd.
11,200
172,160
Glencore
PLC
73,267
457,447
Goodman
Group
(a)
11,894
202,691
IDP
Education
Ltd.
1,463
27,936
Insurance
Australia
Group
Ltd.
13,950
45,008
Macquarie
Group
Ltd.
2,399
352,870
Mirvac
Group
(a)
30,621
52,661
National
Australia
Bank
Ltd.
22,043
511,145
Newcrest
Mining
Ltd.
5,431
103,745
Northern
Star
Resources
Ltd.
8,939
62,382
QBE
Insurance
Group
Ltd.
10,972
96,062
Ramsay
Health
Care
Ltd.
1,315
75,798
REA
Group
Ltd.
426
39,180
Reece
Ltd.
1,901
23,655
Rio
Tinto
Ltd.
2,680
214,890
Rio
Tinto
PLC
7,489
536,500
Santos
Ltd.
22,250
126,496
Scentre
Group
(a)
40,659
86,394
Seek
Ltd.
2,404
48,485
Sonic
Healthcare
Ltd.
3,475
90,705
South32
Ltd.
30,286
102,664
Stockland
(a)
19,347
57,196
Suncorp
Group
Ltd.
9,876
80,431
Tabcorp
Holdings
Ltd.
16,246
63,037
Telstra
Corp.
Ltd.
29,709
85,295
TPG
Telecom
Ltd.
2,333
9,749
Transurban
Group
21,572
219,835
Wesfarmers
Ltd.
7,675
269,494
Westpac
Banking
Corp.
23,492
398,501
Wisetech
Global
Ltd.
1,218
39,184
Woodside
Petroleum
Ltd.
6,988
154,692
Woolworths
Group
Ltd.
8,108
221,893
8,837,583
Austria
–
0.2%
Erste
Group
Bank
AG
2,214
69,276
Mondi
PLC
2,983
56,551
OMV
AG
1,307
67,700
Raiffeisen
Bank
International
AG
723
8,375
Verbund
AG
532
57,358
Voestalpine
AG
473
12,505
271,765
Belgium
–
0.8%
Ageas
SA/NV
1,446
69,988
Anheuser-Busch
InBev
SA/NV
6,042
353,121
D'Ieteren
Group
156
25,509
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Belgium
–
0.8%
(continued)
Groupe
Bruxelles
Lambert
SA
694
66,317
KBC
Group
NV
2,194
150,493
Sofina
SA
133
41,251
Solvay
SA,
Class
A
563
53,787
UCB
SA
830
94,916
Umicore
SA
1,259
49,050
904,432
Brazil
–
0.2%
Wheaton
Precious
Metals
Corp.
2,996
134,979
Yara
International
ASA
865
44,631
179,610
Canada
–
9.9%
Alimentation
Couche-Tard,
Inc.,
Class
A
5,603
250,722
Bank
of
Montreal
4,389
467,764
Bank
of
Nova
Scotia
(The)
8,571
545,558
Barrick
Gold
Corp.
13,089
293,416
BCE,
Inc.
2,405
128,525
Brookfield
Asset
Management,
Inc.,
Class
A
10,103
506,553
Canadian
Imperial
Bank
of
Commerce
2,905
322,811
Canadian
National
Railway
Co.
4,149
490,459
Canadian
Natural
Resources
Ltd.
7,840
487,742
Canadian
Pacific
Railway
Ltd.
6,418
471,890
Cenovus
Energy,
Inc.
8,919
165,742
CGI,
Inc.,
Class
A
(b)
1,459
116,944
Constellation
Software,
Inc.
136
215,151
Dollarama
,
Inc.
2,295
128,249
Enbridge,
Inc.
13,383
587,028
Fortis,
Inc.
3,166
154,850
Franco-Nevada
Corp.
1,251
190,168
George
Weston
Ltd.
496
62,025
Great-West
Lifeco
,
Inc.
2,092
58,011
Hydro
One
Ltd.
(c)
2,400
65,218
Imperial
Oil
Ltd.
1,463
74,040
Intact
Financial
Corp.
1,212
170,432
Loblaw
Cos.
Ltd.
1,187
109,138
Magna
International,
Inc.
1,775
107,524
Manulife
Financial
Corp.
13,271
260,841
National
Bank
of
Canada
2,051
143,982
Nutrien
Ltd.
3,946
389,768
Nuvei
Corp.
(c)
400
22,484
Pembina
Pipeline
Corp.
4,049
154,002
Power
Corp.
of
Canada
3,700
109,432
Restaurant
Brands
International,
Inc.
2,386
137,012
Rogers
Communications,
Inc.,
Class
B
2,057
112,632
Royal
Bank
of
Canada
9,680
982,731
Shaw
Communications,
Inc.,
Class
B
3,468
103,819
Shopify,
Inc.,
Class
A
(b)
785
337,531
Sun
Life
Financial,
Inc.
3,726
186,322
Suncor
Energy,
Inc.
9,834
355,334
TC
Energy
Corp.
6,965
370,308
TELUS
Corp.
3,700
93,046
Thomson
Reuters
Corp.
1,184
118,988
Toronto-Dominion
Bank
(The)
12,651
918,498
WSP
Global,
Inc.
400
46,890
11,013,580
Chile
–
0.0%
Antofagasta
PLC
2,176
42,373
China
–
0.5%
Budweiser
Brewing
Co.
Apac
Ltd.
(c)
14,000
35,294
Prosus
NV
6,137
301,635
40
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
China
–
0.5%
(continued)
Wilmar
International
Ltd.
27,400
88,099
Wuxi
Biologics
Cayman,
Inc.
(b)(c)
22,000
168,235
593,263
Denmark
–
2.4%
AP
Moller
-
Maersk
A/S,
Class
A
15
42,971
AP
Moller
-
Maersk
A/S,
Class
B
42
123,177
Carlsberg
A/S,
Class
B
609
78,456
Coloplast
A/S,
Class
B
874
118,867
Danske
Bank
A/S
5,280
81,694
DSV
A/S
1,494
247,895
Genmab
A/S
(b)
436
154,890
Novo
Nordisk
A/S,
Class
B
11,362
1,308,887
Novozymes
A/S,
Class
B
1,447
101,415
Orsted
A/S
(c)
1,247
140,222
Tryg
A/S
2,699
64,687
Vestas
Wind
Systems
A/S
6,973
180,790
2,643,951
Finland
–
1.2%
Elisa
OYJ
1,085
63,824
Fortum
OYJ
3,166
53,106
Kesko
OYJ,
Class
B
2,545
64,517
Kone
OYJ,
Class
B
2,983
145,042
Metso
Outotec
OYJ
5,296
45,858
Neste
OYJ
2,701
117,396
Nokia
OYJ
37,291
191,607
Nordea
Bank
Abp
24,348
246,181
Sampo
OYJ,
Class
A
3,099
151,728
Stora
ENSO
OYJ,
Class
R
4,186
83,441
UPM-
Kymmene
OYJ
3,934
137,122
1,299,822
France
–
9.1%
Adevinta
ASA,
Class
B
(b)
3,137
24,816
Air
Liquide
SA
3,221
561,826
Airbus
SE
4,165
463,730
Alstom
SA
2,425
54,030
Amundi
SA
(c)
195
11,870
AXA
SA
14,019
376,538
bioMerieux
346
33,136
BNP
Paribas
SA
7,732
405,438
Bollore
SA
2,712
12,789
Bouygues
SA
1,209
41,898
Bureau
Veritas
SA
2,056
59,495
Capgemini
SE
1,097
226,943
Carrefour
SA
4,064
86,432
CIE
de
Saint-Gobain
3,624
215,358
CIE
Generale
des
Etablissements
Michelin
SCA
1,197
150,334
CNP
Assurances
894
19,692
Credit
Agricole
SA
9,566
104,711
Danone
SA
4,457
271,019
Dassault
Systemes
Se
4,675
209,778
Edenred
1,963
99,485
Electricite
de
France
SA
3,564
32,651
Engie
SA
12,051
143,939
EssilorLuxottica
SA
2,072
358,044
Hermes
International
241
301,660
Kering
SA
500
270,648
Legrand
SA
1,828
163,456
L'Oreal
SA
1,650
607,320
LVMH
Moet
Hennessy
Louis
Vuitton
SE
1,850
1,209,055
Orange
SA
14,701
175,529
Pernod
Ricard
SA
1,373
286,286
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
France
–
9.1%
(continued)
Publicis
Groupe
SA
1,780
108,125
Safran
SA
2,363
257,212
Sanofi
7,917
845,061
Sartorius
Stedim
Biotech
188
62,058
Societe
Generale
SA
5,306
129,696
Sodexo
SA
697
53,030
Teleperformance
440
159,074
Thales
SA
725
93,311
TotalEnergies
SE
16,823
838,124
Veolia
Environnement
SA
4,494
132,273
Vinci
SA
3,411
334,079
Vivendi
SA
5,671
65,570
Worldline
SA
(b)(c)
1,686
67,322
10,122,841
Germany
–
6.4%
Adidas
AG
1,218
248,917
Allianz
SE
2,937
669,873
BASF
SE
6,098
324,293
Bayer
AG
6,632
440,076
Bayerische
Motoren
Werke
AG
2,329
192,898
Beiersdorf
AG
773
78,139
Brenntag
SE
875
68,253
Carl
Zeiss
Meditec
AG
279
35,437
Continental
AG
608
42,346
Deutsche
Bank
AG
(b)
13,997
142,139
Deutsche
Boerse
AG
1,219
213,731
Deutsche
Post
AG
6,374
275,157
Deutsche
Telekom
AG
22,467
416,437
Deutsche
Wohnen
SE
532
15,316
E.ON
SE
15,945
167,035
Evonik
Industries
AG
1,716
45,276
Fresenius
Medical
Care
AG
&
Co.
KGaA
1,149
72,050
Fresenius
SE
&
Co.
KGaA
2,858
101,909
Hannover
Rueck
SE
474
74,457
HeidelbergCement
AG
809
47,162
Hellofresh
SE
(b)
1,121
47,990
Henkel
AG
&
Co.
KGaA
1,155
73,839
Infineon
Technologies
AG
8,830
255,703
Kion
Group
AG
507
28,487
Mercedes-Benz
Group
AG
5,690
402,780
Merck
KGaA
921
171,927
Muenchener
Rueckversicherungs-Gesellschaft
AG
in
Muenchen
974
233,556
Puma
SE
646
48,168
RWE
AG
4,809
200,851
SAP
SE
7,643
786,626
Siemens
AG
5,495
682,766
Siemens
Energy
AG
2,980
57,939
Siemens
Healthineers
AG
(c)
1,969
106,477
Symrise
AG,
Class
A
917
109,751
Uniper
SE
545
14,098
Vonovia
SE
5,552
222,570
Zalando
SE
(b)(c)
1,426
56,910
7,171,339
Hong
Kong
–
2.0%
AIA
Group
Ltd.
82,800
820,492
CK
Asset
Holdings
Ltd.
13,000
88,476
CK
Infrastructure
Holdings
Ltd.
3,500
23,575
CLP
Holdings
Ltd.
12,000
117,000
Hang
Seng
Bank
Ltd.
5,900
104,899
Henderson
Land
Development
Co.
Ltd.
8,000
32,475
41
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Hong
Kong
–
2.0%
(continued)
Hong
Kong
&
China
Gas
Co.
Ltd.
75,507
83,628
Hong
Kong
Exchanges
&
Clearing
Ltd.
8,200
353,034
Jardine
Matheson
Holdings
Ltd.
1,700
90,321
Link
REIT
(a)
12,413
107,738
MTR
Corp.
Ltd.
8,500
45,337
Sun
Hung
KAI
Properties
Ltd.
13,000
150,692
Swire
Properties
Ltd.
5,600
13,547
Techtronic
Industries
Co.
Ltd.
12,000
162,729
Wharf
Real
Estate
Investment
Co.
Ltd.
9,000
42,613
2,236,556
Ireland
–
0.5%
CRH
PLC
5,617
226,242
Flutter
Entertainment
PLC
(b)
947
96,487
Kerry
Group
PLC,
Class
A
1,211
134,142
Kingspan
Group
PLC
1,009
94,800
551,671
Israel
–
0.5%
Azrieli
Group
Ltd.
174
15,049
Bank
Hapoalim
BM
7,590
70,822
Bank
Leumi
Le-Israel
BM
10,481
110,721
Elbit
Systems
Ltd.
203
44,244
ICL
Group
Ltd.
4,087
45,107
Israel
Discount
Bank
Ltd.,
Class
A
6,798
40,484
Mizrahi
Tefahot
Bank
Ltd.
1,074
40,015
Nice
Ltd.
(b)
468
96,260
Teva
Pharmaceutical
Industries
Ltd.
(b)(d)
8,324
74,259
536,961
Italy
–
1.7%
Assicurazioni
Generali
SpA
8,594
164,099
Atlantia
SpA
(b)
3,175
76,469
Coca-Cola
HBC
AG
1,617
33,243
Davide
Campari-Milano
NV
4,191
47,684
DiaSorin
SpA
143
18,865
ENEL
SpA
54,836
359,707
ENI
SpA
17,102
241,580
Ferrari
NV
874
187,172
Finecobank
Banca
Fineco
SpA
4,460
62,695
Intesa
Sanpaolo
SpA
121,039
249,609
Moncler
SpA
1,456
77,231
Nexi
SpA
(b)(c)
3,962
39,381
Poste
Italiane
SpA
(c)
1,819
17,996
Recordati
Industria
Chimica
e
Farmaceutica
SpA
635
30,809
Snam
SpA
13,633
75,132
Terna
Rete
Elettrica
Nazionale
SpA
10,106
82,796
UniCredit
SpA
15,044
141,329
1,905,797
Japan
–
20.2%
Advantest
Corp.
1,400
97,144
AEON
Co.
Ltd.
6,000
114,318
AGC,
Inc.
1,900
71,712
Aisin
Corp.
1,800
52,516
Ajinomoto
Co.,
Inc.
3,700
96,670
ANA
Holdings,
Inc.
(b)
300
5,681
Asahi
Group
Holdings
Ltd.
3,200
120,111
Asahi
Kasei
Corp.
8,700
71,952
Astellas
Pharma,
Inc.
12,600
192,365
Bandai
Namco
Holdings,
Inc.
2,100
143,593
Bridgestone
Corp.
4,100
150,854
Canon,
Inc.
6,800
157,194
Central
Japan
Railway
Co.
1,700
215,321
Chubu
Electric
Power
Co.,
Inc.
3,700
37,468
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Japan
–
20.2%
(continued)
Chugai
Pharmaceutical
Co.
Ltd.
4,400
132,550
Cyberagent,
Inc.
2,600
27,814
Daifuku
Co.
Ltd.
700
43,493
Dai-ichi
Life
Holdings,
Inc.
7,500
150,770
Daiichi
Sankyo
Co.
Ltd.
12,900
324,790
Daikin
Industries
Ltd.
2,000
309,432
Daito
Trust
Construction
Co.
Ltd.
400
38,654
Daiwa
House
Industry
Co.
Ltd.
4,100
99,462
Daiwa
Securities
Group,
Inc.
11,900
58,416
Denso
Corp.
3,300
202,671
Dentsu
Group,
Inc.
2,100
76,262
Disco
Corp.
200
49,552
East
Japan
Railway
Co.
2,300
121,054
Eisai
Co.
Ltd.
2,000
87,434
ENEOS
Holdings,
Inc.
20,100
70,775
FANUC
Corp.
1,500
233,463
Fast
Retailing
Co.
Ltd.
400
185,736
Fujifilm
Holdings
Corp.
2,800
155,020
Fujitsu
Ltd.
1,300
187,485
GMO
Payment
Gateway,
Inc.
300
25,679
Hamamatsu
Photonics
KK
800
36,184
Hankyu
Hanshin
Holdings,
Inc.
2,000
53,026
Hitachi
Ltd.
6,600
309,318
Hitachi
Metals
Ltd.
(b)
800
12,522
Honda
Motor
Co.
Ltd.
11,900
314,033
Hoya
Corp.
2,700
270,709
Ibiden
Co.
Ltd.
700
26,690
Idemitsu
Kosan
Co.
Ltd.
2,000
52,563
INPEX
Corp.
5,800
68,583
Isuzu
Motors
Ltd.
4,200
49,177
ITOCHU
Corp.
10,300
312,593
ITOCHU
Techno-Solutions
Corp.
700
16,506
Japan
Airlines
Co.
Ltd.
(b)
800
13,282
Japan
Exchange
Group,
Inc.
3,500
52,719
Japan
Post
Holdings
Co.
Ltd.
8,600
60,504
Japan
Post
Insurance
Co.
Ltd.
300
4,874
Japan
Real
Estate
Investment
Corp.
(a)
8
38,839
Japan
Tobacco,
Inc.
7,300
125,282
JFE
Holdings,
Inc.
3,800
46,781
JSR
Corp.
1,800
49,390
Kansai
Electric
Power
Co.,
Inc.
(The)
6,100
53,674
KAO
Corp.
3,600
145,350
KDDI
Corp.
11,000
368,053
Keyence
Corp.
1,300
530,295
Kikkoman
Corp.
1,300
73,449
Kirin
Holdings
Co.
Ltd.
5,300
77,745
Kobe
Bussan
Co.
Ltd.
600
14,819
Koei
Tecmo
Holdings
Co.
Ltd.
500
15,302
Koito
Manufacturing
Co.
Ltd.
800
29,546
Komatsu
Ltd.
6,500
146,546
Konami
Holdings
Corp.
700
43,439
Kubota
Corp.
8,700
148,973
Kyocera
Corp.
2,700
143,023
Kyowa
Kirin
Co.
Ltd.
1,900
40,080
Lasertec
Corp.
500
68,366
Lixil
Corp.
2,600
46,036
M3,
Inc.
2,800
90,812
Makita
Corp.
2,600
77,683
Marubeni
Corp.
12,500
137,243
MEIJI
Holdings
Co.
Ltd.
800
39,951
Mercari
,
Inc.
(b)
600
10,235
Minebea
Mitsumi,
Inc.
3,300
64,187
42
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Japan
–
20.2%
(continued)
Misumi
Group,
Inc.
2,200
55,696
Mitsubishi
Chemical
Holdings
Corp.
7,600
46,517
Mitsubishi
Corp.
10,100
341,682
Mitsubishi
Electric
Corp.
13,600
143,600
Mitsubishi
Estate
Co.
Ltd.
7,700
111,940
Mitsubishi
Heavy
Industries
Ltd.
2,400
82,155
Mitsubishi
UFJ
Financial
Group,
Inc.
90,400
526,310
Mitsui
&
Co.
Ltd.
11,100
269,875
Mitsui
Fudosan
Co.
Ltd.
6,200
131,384
Mizuho
Financial
Group,
Inc.
18,760
228,563
Monotaro
Co.
Ltd.
1,800
31,385
MS&AD
Insurance
Group
Holdings,
Inc.
3,100
92,861
Murata
Manufacturing
Co.
Ltd.
4,200
252,661
NEC
Corp.
1,400
54,569
Nexon
Co.
Ltd.
3,200
73,405
Nidec
Corp.
3,700
243,858
Nihon
M&A
Center
Holdings,
Inc.
2,400
29,898
Nintendo
Co.
Ltd.
800
369,929
Nippon
Building
Fund,
Inc.
(a)
9
46,820
Nippon
Paint
Holdings
Co.
Ltd.
10,500
84,204
Nippon
ProLogis
REIT,
Inc.
(a)
22
61,215
Nippon
Sanso
Holdings
Corp.
1,900
34,272
Nippon
Steel
Corp.
7,100
113,410
Nippon
Telegraph
&
Telephone
Corp.
8,800
261,297
Nippon
Yusen
KK
1,100
80,318
Nissan
Chemical
Corp.
800
42,668
Nissan
Motor
Co.
Ltd.
(b)
19,300
77,015
Nissin
Foods
Holdings
Co.
Ltd.
500
34,926
Nitori
Holdings
Co.
Ltd.
500
51,521
Nitto
Denko
Corp.
800
54,029
Nomura
Holdings,
Inc.
23,200
89,534
Nomura
Research
Institute
Ltd.
3,200
91,633
NTT
Data
Corp.
4,000
74,190
OBIC
Co.
Ltd.
400
59,525
Odakyu
Electric
Railway
Co.
Ltd.
2,900
44,230
Olympus
Corp.
9,300
165,743
Omron
Corp.
1,900
113,302
ONO
Pharmaceutical
Co.
Ltd.
3,700
95,185
Oracle
Corp.
Japan
200
12,936
Oriental
Land
Co.
Ltd.
1,800
274,738
ORIX
Corp.
8,700
159,415
Otsuka
Corp.
700
23,097
Otsuka
Holdings
Co.
Ltd.
4,000
134,702
Pan
Pacific
International
Holdings
Corp.
2,900
45,013
Panasonic
Corp.
15,600
139,733
Rakuten
Group,
Inc.
6,200
43,930
Recruit
Holdings
Co.
Ltd.
11,900
442,530
Renesas
Electronics
Corp.
(b)
9,800
106,502
Resona
Holdings,
Inc.
20,300
88,511
ROHM
Co.
Ltd.
500
35,350
Secom
Co.
Ltd.
1,100
77,890
Sekisui
Chemical
Co.
Ltd.
1,900
25,796
Sekisui
House
Ltd.
4,700
81,949
Seven
&
i
Holdings
Co.
Ltd.
5,700
251,564
SG
Holdings
Co.
Ltd.
3,600
63,714
Shimadzu
Corp.
2,300
76,069
Shimano,
Inc.
500
89,920
Shin-Etsu
Chemical
Co.
Ltd.
2,900
402,566
Shionogi
&
Co.
Ltd.
1,900
106,629
Shiseido
Co.
Ltd.
2,700
127,873
SMC
Corp.
400
194,659
SoftBank
Corp.
16,800
196,450
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Japan
–
20.2%
(continued)
SoftBank
Group
Corp.
8,600
349,748
Sompo
Holdings,
Inc.
2,800
114,217
Sony
Group
Corp.
8,800
762,087
Subaru
Corp.
4,400
66,530
Sumitomo
Chemical
Co.
Ltd.
12,600
53,586
Sumitomo
Corp.
9,000
143,204
Sumitomo
Electric
Industries
Ltd.
5,200
56,130
Sumitomo
Metal
Mining
Co.
Ltd.
2,100
91,920
Sumitomo
Mitsui
Financial
Group,
Inc.
9,700
293,111
Sumitomo
Mitsui
Trust
Holdings,
Inc.
3,100
96,450
Sumitomo
Realty
&
Development
Co.
Ltd.
2,800
74,214
Suntory
Beverage
&
Food
Ltd.
700
27,717
Suzuki
Motor
Corp.
3,500
105,573
Sysmex
Corp.
1,100
73,101
T&D
Holdings,
Inc.
4,000
51,559
Takeda
Pharmaceutical
Co.
Ltd.
10,200
296,726
TDK
Corp.
2,900
90,989
Terumo
Corp.
5,500
165,306
Toho
Co.
Ltd.
700
26,096
Tokio
Marine
Holdings,
Inc.
5,200
281,714
Tokyo
Electron
Ltd.
1,000
428,219
Tokyo
Gas
Co.
Ltd.
3,200
61,525
Tokyu
Corp.
4,100
50,348
Toray
Industries,
Inc.
12,100
57,801
Toshiba
Corp.
3,000
125,178
Toto
Ltd.
900
30,461
Toyota
Industries
Corp.
1,000
60,127
Toyota
Motor
Corp.
87,900
1,516,675
Toyota
Tsusho
Corp.
2,000
72,476
Unicharm
Corp.
3,200
111,812
West
Japan
Railway
Co.
2,200
82,254
Yakult
Honsha
Co.
Ltd.
900
46,681
Yamaha
Corp.
700
27,015
Yamaha
Motor
Co.
Ltd.
2,100
43,601
Yamato
Holdings
Co.
Ltd.
2,500
47,179
Yaskawa
Electric
Corp.
2,300
78,998
Z
Holdings
Corp.
17,400
69,111
ZOZO,
Inc.
600
12,782
22,490,875
Luxembourg
–
0.2%
ArcelorMittal
SA
4,215
125,017
Eurofins
Scientific
SE
908
84,985
210,002
Macau
–
0.1%
Galaxy
Entertainment
Group
Ltd.
20,000
116,235
Sands
China
Ltd.
(b)
18,800
42,267
158,502
Netherlands
–
4.9%
Adyen
NV
(b)(c)
210
359,559
AKZO
Nobel
NV
1,376
120,629
Argenx
SE
(b)
412
119,048
Asm
International
NV
262
80,128
ASML
Holding
NV
2,833
1,637,797
EXOR
NV
726
51,162
HAL
Trust
525
75,988
Heineken
Holding
NV
797
62,808
Heineken
NV
1,451
142,971
ING
Groep
NV
26,098
250,543
JDE
Peet's
NV
644
19,023
Koninklijke
Ahold
Delhaize
NV
7,379
218,666
Koninklijke
DSM
NV
1,190
201,616
43
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Netherlands
–
4.9%
(continued)
Koninklijke
Philips
NV
5,844
154,129
NN
Group
NV
2,428
120,233
Shell
PLC
53,102
1,448,721
Universal
Music
Group
NV
9,102
213,985
Wolters
Kluwer
NV
1,930
196,642
5,473,648
New
Zealand
–
0.2%
Auckland
International
Airport
Ltd.
(b)
11,020
56,040
Fisher
&
Paykel
Healthcare
Corp.
Ltd.
4,188
58,442
Mainfreight
Ltd.
507
26,753
Meridian
Energy
Ltd.
7,954
24,471
Spark
New
Zealand
Ltd.
11,172
35,676
201,382
Norway
–
0.8%
AKER
ASA,
Class
A
125
10,391
AKER
BP
ASA
965
35,269
Autostore
Holdings
Ltd.
(b)
5,964
13,699
DNB
Bank
ASA
6,426
126,740
Equinor
ASA
7,634
263,069
Gjensidige
Forsikring
ASA
873
18,891
Mowi
ASA
3,038
86,967
Norsk
Hydro
ASA
11,009
94,462
Orkla
ASA
6,750
55,324
Salmar
ASA
222
18,419
Schibsted
ASA,
Class
A
1,137
24,128
Telenor
ASA
5,064
72,238
Tomra
Systems
ASA
808
32,332
Var
Energi
As
(b)
861
3,705
855,634
Poland
–
0.2%
Allegro.Eu
SA
(b)(c)
2,072
10,755
Bank
Polska
Kasa
Opieki
SA
1,341
29,615
Dino
Polska
SA
(b)(c)
289
18,763
ING
Bank
Slaski
SA
233
10,344
KGHM
Polska
Miedz
SA
984
32,141
Polski
Koncern
Naftowy
ORLEN
SA
2,479
42,076
Polskie
Gornictwo
Naftowe
i
Gazownictwo
SA
8,046
11,296
Powszechna
Kasa
Oszczednosci
Bank
Polski
SA
(b)
6,481
47,918
Powszechny
Zaklad
Ubezpieczen
SA
2,808
19,426
Santander
Bank
Polska
SA
245
14,940
237,274
Portugal
–
0.1%
EDP
-
Energias
de
Portugal
SA
21,173
99,219
Jeronimo
Martins
SGPS
SA
1,659
34,653
133,872
Russia
–
0.0%
Evraz
PLC
(e)
2,845
0
Saudi
Arabia
–
0.0%
Delivery
Hero
SE
(b)(c)
1,295
46,231
Singapore
–
1.3%
Ascendas
Real
Estate
Investment
Trust
(a)
24,696
51,148
CapitaLand
Integrated
Commercial
Trust
(a)
37,954
64,040
CapitaLand
Investment
Ltd.
(b)
19,300
59,120
DBS
Group
Holdings
Ltd.
12,463
306,137
Genting
Singapore
Ltd.
34,400
20,178
Great
Eastern
Holdings
Ltd.
100
1,477
Jardine
Cycle
&
Carriage
Ltd.
400
8,400
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Singapore
–
1.3%
(continued)
Keppel
Corp.
Ltd.
6,900
34,328
Mapletree
Logistics
Trust
(a)
23,707
30,730
Oversea-Chinese
Banking
Corp.
Ltd.
25,819
231,659
Singapore
Airlines
Ltd.
(b)(d)
10,900
43,414
Singapore
Exchange
Ltd.
5,300
37,575
Singapore
Technologies
Engineering
Ltd.
7,800
23,159
Singapore
Telecommunications
Ltd.
53,200
106,716
STMicroelectronics
NV
4,529
170,737
United
Overseas
Bank
Ltd.
10,700
232,380
1,421,198
South
Africa
–
0.4%
Anglo
American
PLC
9,215
414,877
Spain
–
2.1%
Aena
SME
SA
(b)(c)
426
61,255
Amadeus
IT
Group
SA
(b)
3,208
204,411
Banco
Bilbao
Vizcaya
Argentaria
SA
46,133
246,212
Banco
Santander
SA
114,155
339,186
CaixaBank
SA
29,910
97,438
Cellnex
Telecom
SA
(c)
3,944
185,402
EDP
Renovaveis
SA
1,620
38,692
Endesa
SA
2,596
54,855
Ferrovial
SA
3,511
91,080
Iberdrola
SA
39,465
458,387
Industria
de
Diseno
Textil
SA
7,981
169,233
Naturgy
Energy
Group
SA
2,494
75,590
Repsol
SA
9,126
137,529
Siemens
Gamesa
Renewable
Energy
SA
(b)
1,594
25,770
Telefonica
SA
38,452
187,938
2,372,978
Sweden
–
3.1%
ALFA
Laval
AB
1,694
47,897
ASSA
Abloy
AB,
Class
B
6,486
166,234
Atlas
Copco
AB,
Class
A
4,411
203,539
Atlas
Copco
AB,
Class
B
2,838
114,206
Boliden
AB
1,932
85,066
Embracer
Group
AB,
Class
B
(b)
4,381
29,784
Epiroc
AB,
Class
A
4,281
88,126
Epiroc
AB,
Class
B
2,563
45,289
EQT
AB
1,883
54,683
Essity
AB,
Class
B
4,096
109,161
Evolution
AB
(c)
1,183
123,985
Fastighets
AB
Balder,
Class
B
(b)
674
33,833
Getinge
AB,
Class
B
1,682
49,223
Hennes
&
Mauritz
AB,
Class
B
4,464
57,060
Hexagon
AB,
Class
B
14,712
193,038
Industrivarden
AB,
Class
A
2,465
64,134
Indutrade
AB
1,903
45,625
Investment
AB
Latour
,
Class
B
850
22,835
Investor
AB,
Class
A
3,558
75,277
Investor
AB,
Class
B
13,191
257,453
Kinnevik
AB,
Class
A
(b)
144
3,161
Kinnevik
AB,
Class
B
(b)
1,736
34,584
L
E
Lundbergforetagen
AB,
Class
B
510
24,163
Lifco
AB,
Class
B
1,456
31,117
Lundin
Energy
AB
1,350
56,518
Nibe
Industrier
AB,
Class
B
9,065
90,193
Sagax
AB,
Class
B
1,086
28,100
Sagax
AB,
Class
D
1,524
4,707
Sandvik
AB
7,819
150,299
Sinch
AB
(b)(c)
3,924
17,772
44
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
Sweden
–
3.1%
(continued)
Skandinaviska
Enskilda
Banken
AB,
Class
A
8,404
95,725
Skandinaviska
Enskilda
Banken
AB,
Class
C
1,522
18,743
Skanska
AB,
Class
B
3,481
67,375
SKF
AB,
Class
A
870
17,110
SKF
AB,
Class
B
1,659
27,502
Svenska
Cellulosa
AB
SCA,
Class
B
4,794
94,060
Svenska
Handelsbanken
AB,
Class
A
11,945
121,946
Swedbank
AB,
Class
A
5,690
91,189
Swedish
Match
AB
10,321
82,877
Tele2
AB,
Class
B
3,439
45,756
Telefonaktiebolaget
LM
Ericsson,
Class
B
20,765
168,247
Telia
Co.
AB
18,516
77,291
Volvo
AB,
Class
B
12,623
204,219
Volvo
Car
AB,
Class
B
(d)
4,070
30,338
3,449,440
Switzerland
–
9.5%
ABB
Ltd.
12,642
385,518
Alcon,
Inc.
3,490
252,766
Barry
Callebaut
AG
23
53,410
Chocoladefabriken
Lindt
&
Spruengli
AG
12
135,497
CIE
Financiere
Richemont
SA,
Class
A
3,583
426,350
Credit
Suisse
Group
AG
18,527
128,228
EMS-
Chemie
Holding
AG
58
52,374
Geberit
AG
242
139,618
Givaudan
SA
59
236,754
Holcim
Ltd.
3,711
184,088
Julius
Baer
Group
Ltd.
1,613
78,552
Kuehne
+
Nagel
International
AG
359
101,747
Logitech
International
SA
1,250
82,986
Lonza
Group
AG
506
301,520
Nestle
SA
19,312
2,506,889
Novartis
AG
16,944
1,510,148
Partners
Group
Holding
AG
160
172,668
Roche
Holding
AG
4,818
1,798,839
Roche
Holding
AG,
BR
213
86,196
Schindler
Holding
AG,
PC
425
82,929
SGS
SA
41
106,529
Sika
AG
999
309,791
Sonova
Holding
AG
356
130,275
Straumann
Holding
AG
760
91,256
Swatch
Group
AG
(The),
BR
276
72,366
Swiss
Life
Holding
AG
233
137,546
Swisscom
AG
164
97,455
UBS
Group
AG
25,158
433,231
Zurich
Insurance
Group
AG
1,004
461,220
10,556,746
United
Kingdom
–
10.4%
3i
Group
PLC
6,599
109,776
Admiral
Group
PLC
1,789
56,691
Ashtead
Group
PLC
2,995
157,139
Associated
British
Foods
PLC
2,771
55,890
AstraZeneca
PLC
10,598
1,422,115
Aveva
Group
PLC
768
20,972
Aviva
PLC
29,898
162,647
BAE
Systems
PLC
21,445
199,238
Barclays
PLC
102,435
190,595
BP
PLC
138,829
682,467
British
American
Tobacco
PLC
15,978
672,420
BT
Group
PLC,
Class
A
62,620
139,431
Bunzl
PLC
2,325
90,577
CK
Hutchison
Holdings
Ltd.
16,500
116,082
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
99.0%
(continued)
United
Kingdom
–
10.4%
(continued)
CNH
Industrial
NV
7,406
107,272
Coca-Cola
European
Partners
PLC
1,633
81,568
Compass
Group
PLC
11,571
247,255
Croda
International
PLC
941
92,198
Diageo
PLC
16,102
812,378
Entain
PLC
(b)
3,639
69,376
Experian
PLC
6,738
236,190
Halma
PLC
2,592
80,542
HSBC
Holdings
PLC
142,799
898,746
Imperial
Brands
PLC
6,417
134,221
InterContinental
Hotels
Group
PLC
1,045
67,856
Intertek
Group
PLC
1,259
79,160
JD
Sports
Fashion
PLC
17,817
29,840
Just
Eat
Takeaway.com
NV
(b)(c)
1,110
30,797
Legal
&
General
Group
PLC
40,438
127,990
Lloyds
Banking
Group
PLC
502,255
289,309
London
Stock
Exchange
Group
PLC
2,172
215,864
National
Grid
PLC
28,002
419,766
NatWest
Group
PLC
35,363
96,788
Next
PLC
999
75,580
Ocado
Group
PLC
(b)
4,813
55,834
Pepco
Group
NV
(b)(c)
1,014
9,547
Persimmon
PLC
2,475
65,254
Prudential
PLC
19,340
245,240
Reckitt
Benckiser
Group
PLC
4,964
388,893
RELX
PLC
13,695
411,452
Rentokil
Initial
PLC
11,185
77,235
Rolls-Royce
Holdings
PLC
(b)
59,030
61,728
Schroders
PLC
1,239
44,178
Segro
PLC
(a)
8,192
138,076
Smith
&
Nephew
PLC
5,742
93,934
Spirax-Sarco
Engineering
PLC
540
82,373
SSE
PLC
6,900
161,866
Standard
Chartered
PLC
15,656
108,462
Tesco
PLC
52,667
179,855
Unilever
PLC
17,837
832,841
Vodafone
Group
PLC
179,901
274,516
WPP
PLC
8,990
113,433
11,613,453
United
States
–
2.1%
Ferguson
PLC
1,650
210,056
GlaxoSmithKline
PLC
34,563
779,783
James
Hardie
Industries
PLC,
CDI
3,179
93,846
Schneider
Electric
SE
3,928
570,609
Stellantis
NV
15,349
210,211
Swiss
RE
AG
1,988
164,504
Tenaris
SA
3,105
48,512
Waste
Connections,
Inc.
1,689
234,217
2,311,738
Zambia
–
0.1%
First
Quantum
Minerals
Ltd.
3,814
109,909
Total
Common
Stocks
(cost
$109,303,100)
110,369,303
Preferred
Stocks
–
0.4%
Germany
–
0.4%
Bayerische
Motoren
Werke
AG,
2.46%
227
16,919
Henkel
AG
&
Co.
KGaA
,
2.53%
868
56,187
Porsche
Automobil
Holding
SE,
2.60%
1,066
89,449
Sartorius
AG,
0.16%
170
64,402
45
(a)
Investment
in
a
real
estate
investment
trust.
(b)
Non-income
producing
security.
(c)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
April
30,
2022,
these
securities
were
valued
at
$1,595,475
or
1.43%
of
net
assets.
(d)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$127,243
and
the
value
of
the
collateral
was
$132,186,
consisting
of
cash
collateral.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(e)
The
fund
held
Level
3
securities
at
April
30,
2022.
These
securities
were
valued
at
$0
or
0.00%
of
net
assets.
(f)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
(g)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
BNY
Mellon
International
Equity
ETF
(continued)
Description
Shares
Value
($)
Preferred
Stocks
–
0.4%
(continued)
Germany
–
0.4%
(continued)
Volkswagen
AG,
2.60%
1,236
194,206
421,163
Total
Preferred
Stocks
(cost
$507,036)
421,163
Investment
Companies
–
0.0%
Registered
Investment
Companies
–
0.0%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(f)(g)
(cost
$41,756)
41,756
41,756
Investment
of
Cash
Collateral
for
Securities
Loaned
–
0.1%
Registered
Investment
Companies
–
0.1%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(f)(g)
(cost
$132,186)
132,186
132,186
Total
Investments
(cost
$109,984,078)
99.5%
110,964,408
Cash
and
Receivables
(Net)
0.5%
537,086
Net
Assets
100.0%
111,501,494
BR—Bearer
Shares
CDI—CREST
Depository
Interest
PC—Participation
Certificate
REIT—Real
Estate
Investment
Trust
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
121,575
1,910,619
(1,990,438)
—
—
41,756
0.0
50
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
145,698
14,473,243
(14,486,755)
—
—
132,186
0.1
16
2
Total
267,273
16,383,862
(16,477,193)
—
—
173,942
0.1
66
1
Includes
reinvested
dividends/distributions.
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
46
STATEMENT
OF
INVESTMENTS
(continued)
See
Notes
to
Financial
Statements
Portfolio
Summary
(Unaudited)
†
Value
(%)
Financials
20.6
Industrials
14.4
Health
Care
12.9
Consumer
Discretionary
10.3
Consumer
Staples
9.6
Materials
8.5
Information
Technology
8.0
Energy
6.0
Communication
Services
4.4
Utilities
2.9
Real
Estate
1.8
Registered
Investment
Companies
0.1
99.5
†
Based
on
net
assets.
Futures
Description
Number
of
Contracts
Expiration
Notional
Value
($)
Market
Value
($)
Unrealized
Appreciation
(Depreciation)
($)
Futures
Long
MSCI
EAFE
Index
5
6/17/2022
541,930
499,150
(42,780)
47
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
Emerging
Markets
Equity
ETF
Description
Shares
Value
($)
Common
Stocks
–
97.2%
Brazil
–
3.5%
Ambev
SA
25,900
76,410
Atacadao
SA
3,293
13,705
B3
SA
-
Brasil
Bolsa
Balcao
31,563
84,768
Banco
Bradesco
SA
7,404
22,187
Banco
BTG
Pactual
SA
6,102
28,562
Banco
do
Brasil
SA
7,500
50,281
BB
Seguridade
Participacoes
SA
3,227
16,454
Centrais
Eletricas
Brasileiras
SA
1,700
13,965
Cia
Brasileira
de
Aluminio
2,573
8,859
Cia
Siderurgica
Nacional
SA
3,103
13,183
Cosan
SA
5,797
24,758
Hapvida
Participacoes
e
Investimentos
SA
(a)
22,939
41,040
Itausa
-
Investimentos
Itau
SA
6,789
13,215
Localiza
Rent
A
Car
SA
2,849
30,640
Magazine
Luiza
SA
14,200
14,165
Natura
&
Co.
Holding
SA
4,542
17,243
Petroleo
Brasileiro
SA
21,400
145,412
Raia
Drogasil
SA
6,187
26,136
Rede
D'or
Sao
Luiz
SA
(a)
4,098
30,577
Suzano
SA
4,198
42,385
Telefonica
Brasil
SA
2,352
24,930
Vale
SA
21,042
357,088
WEG
SA
8,400
51,395
1,147,358
Chile
–
0.3%
Banco
de
Chile
252,501
25,204
Banco
de
Credito
e
Inversiones
SA
303
9,374
Banco
Santander
Chile
172,369
8,291
Cencosud
SA
8,076
12,923
Empresas
CMPC
SA
4,341
6,468
Empresas
COPEC
SA
2,109
15,501
Enel
Americas
SA
120,413
12,605
Falabella
SA
4,872
13,678
104,044
China
–
30.6%
360
Security
Technology,
Inc.,
Class
A
(b)
1,300
1,616
AECC
Aviation
Power
Co.
Ltd.,
Class
A
1,100
6,309
Agricultural
Bank
of
China
Ltd.,
Class
A
67,400
31,311
Agricultural
Bank
of
China
Ltd.,
Class
H
159,000
59,984
Airtac
International
Group
1,046
28,816
Alibaba
Group
Holding
Ltd.
(b)
78,680
1,023,843
Alibaba
Health
Information
Technology
Ltd.
(b)
8,000
4,639
Aluminum
Corp.
of
China
Ltd.,
Class
A
(b)
4,900
3,541
Aluminum
Corp.
of
China
Ltd.,
Class
H
(b)
22,000
10,515
Anhui
Conch
Cement
Co.
Ltd.,
Class
A
2,100
12,740
Anhui
Conch
Cement
Co.
Ltd.,
Class
H
5,500
30,072
Anhui
Gujing
Distillery
Co.
Ltd.,
Class
A
200
5,936
Anhui
Gujing
Distillery
Co.
Ltd.,
Class
B
600
8,013
ANTA
Sports
Products
Ltd.
6,000
70,238
Asymchem
Laboratories
Tianjin
Co.
Ltd.,
Class
A
100
4,054
Avary
Holding
Shenzhen
Co.
Ltd.,
Class
A
600
2,684
Baidu,
Inc.,
Class
A
(b)
12,400
206,399
Bank
of
Beijing
Co.
Ltd.,
Class
A
6,900
4,787
Bank
of
China
Ltd.,
Class
A
27,600
13,534
Bank
of
China
Ltd.,
Class
H
408,000
161,200
Bank
of
Communications
Co.
Ltd.,
Class
A
11,800
9,100
Bank
of
Communications
Co.
Ltd.,
Class
H
116,000
80,870
Bank
of
Hangzhou
Co.
Ltd.,
Class
A
1,800
4,176
Bank
of
Jiangsu
Co.
Ltd.,
Class
A
5,200
5,787
Bank
of
Nanjing
Co.
Ltd.,
Class
A
3,400
5,988
Bank
of
Ningbo
Co.
Ltd.,
Class
A
3,900
21,498
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
China
–
30.6%
(continued)
Bank
of
Shanghai
Co.
Ltd.,
Class
A
5,200
5,123
Baoshan
Iron
&
Steel
Co.
Ltd.,
Class
A
10,000
9,807
BeiGene
Ltd.
(b)(c)
3,500
46,660
Beijing
Kingsoft
Office
Software,
Inc.,
Class
A
200
5,729
Beijing
Wantai
Biological
Pharmacy
Enterprise
Co.
Ltd.,
Class
A
290
7,106
Beijing-Shanghai
High
Speed
Railway
Co.
Ltd.,
Class
A
22,000
15,330
Bilibili
,
Inc.,
Class
Z
(b)
540
14,012
BOC
Hong
Kong
Holdings
Ltd.
20,000
73,029
BOE
Technology
Group
Co.
Ltd.,
Class
A
19,700
11,365
BOE
Technology
Group
Co.
Ltd.,
Class
B
600
286
BYD
Co.
Ltd.,
Class
A
700
25,824
BYD
Co.
Ltd.,
Class
H
4,500
135,238
CGN
Power
Co.
Ltd.,
Class
A
500
215
CGN
Power
Co.
Ltd.,
Class
H
(a)
78,000
22,069
Changchun
High
&
New
Technology
Industry
Group,
Inc.,
Class
A
100
2,384
China
CITIC
Bank
Corp.
Ltd.,
Class
H
42,000
21,465
China
Coal
Energy
Co.
Ltd.,
Class
A
2,600
3,710
China
Coal
Energy
Co.
Ltd.,
Class
H
11,000
9,379
China
Construction
Bank
Corp.,
Class
A
4,000
3,686
China
Construction
Bank
Corp.,
Class
H
560,000
398,973
China
CSSC
Holdings
Ltd.,
Class
A
1,300
3,091
China
Eastern
Airlines
Corp.
Ltd.,
Class
A
(b)
8,600
6,162
China
Eastern
Airlines
Corp.
Ltd.,
Class
H
(b)
2,000
681
China
Everbright
Bank
Co.
Ltd.,
Class
A
22,300
10,800
China
Everbright
Bank
Co.
Ltd.,
Class
H
6,000
2,187
China
Feihe
Ltd.
(a)
16,000
15,315
China
Galaxy
Securities
Co.
Ltd.,
Class
A
2,000
2,818
China
Galaxy
Securities
Co.
Ltd.,
Class
H
17,500
9,591
China
Gas
Holdings
Ltd.
9,200
11,280
China
Hongqiao
Group
Ltd.
12,500
15,915
China
International
Capital
Corp.
Ltd.,
Class
A
400
2,276
China
International
Capital
Corp.
Ltd.,
Class
H
(a)
8,000
16,232
China
Jushi
Co.
Ltd.
1,500
3,582
China
Life
Insurance
Co.
Ltd.,
Class
H
37,000
54,325
China
Mengniu
Dairy
Co.
Ltd.
16,000
86,871
China
Merchants
Bank
Co.
Ltd.,
Class
A
8,500
51,527
China
Merchants
Bank
Co.
Ltd.,
Class
H
21,000
128,203
China
Merchants
Securities
Co.
Ltd.,
Class
A
2,600
5,041
China
Merchants
Securities
Co.
Ltd.,
Class
H
(a)
5,000
5,232
China
Merchants
Shekou
Industrial
Zone
Holdings
Co.
Ltd.,
Class
A
8,200
19,507
China
Minsheng
Banking
Corp.
Ltd.,
Class
A
19,500
10,953
China
Minsheng
Banking
Corp.
Ltd.,
Class
H
34,000
12,957
China
Molybdenum
Co.
Ltd.,
Class
A
8,600
6,110
China
Molybdenum
Co.
Ltd.,
Class
H
18,000
9,154
China
National
Nuclear
Power
Co.
Ltd.,
Class
A
14,500
15,695
China
Northern
Rare
Earth
Group
High-Tech
Co.
Ltd.,
Class
A
1,300
6,252
China
Overseas
Land
&
Investment
Ltd.
18,500
57,649
China
Pacific
Insurance
Group
Co.
Ltd.,
Class
A
3,500
11,052
China
Pacific
Insurance
Group
Co.
Ltd.,
Class
H
12,800
28,647
China
Petroleum
&
Chemical
Corp.,
Class
A
21,500
14,166
China
Petroleum
&
Chemical
Corp.,
Class
H
140,000
69,410
China
Railway
Group
Ltd.,
Class
A
14,000
15,048
China
Railway
Group
Ltd.,
Class
H
21,000
14,747
China
Resources
Beer
Holdings
Co.
Ltd.
8,000
47,412
China
Resources
Gas
Group
Ltd.
4,000
15,218
China
Resources
Land
Ltd.
16,000
71,984
China
Resources
Mixc
Lifestyle
Services
Ltd.
(a)
3,000
14,587
48
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
China
–
30.6%
(continued)
China
Resources
Power
Holdings
Co.
Ltd.
8,000
15,253
China
Shenhua
Energy
Co.
Ltd.,
Class
A
3,500
16,355
China
Shenhua
Energy
Co.
Ltd.,
Class
H
18,500
59,653
China
Southern
Airlines
Co.
Ltd.,
Class
A
(b)
7,500
7,401
China
Southern
Airlines
Co.
Ltd.,
Class
H
(b)
12,000
6,775
China
Tourism
Group
Duty
Free
Corp.
Ltd.,
Class
A
900
24,866
China
Vanke
Co.
Ltd.,
Class
A
3,000
8,826
China
Vanke
Co.
Ltd.,
Class
H
10,400
24,707
China
Yangtze
Power
Co.
Ltd.,
Class
A
11,700
40,356
China
Zheshang
Bank
Co.
Ltd.,
Class
A
10,300
5,176
Chongqing
Brewery
Co.,
Class
A
(b)
100
1,905
Chongqing
Changan
Automobile
Co.
Ltd.,
Class
A
3,220
5,118
Chow
Tai
Fook
Jewellery
Group
Ltd.
11,400
19,295
CITIC
Ltd.
35,000
36,445
CITIC
Pacific
Special
Steel
Group
Co.
Ltd.,
Class
A
1,300
3,560
CITIC
Securities
Co.
Ltd.,
Class
A
5,635
16,844
CITIC
Securities
Co.
Ltd.,
Class
H
11,000
24,422
CNPC
Capital
Co.
Ltd.,
Class
A
5,000
3,507
Cosco
Shipping
Holdings
Co.
Ltd.,
Class
H
(b)
17,500
27,791
Country
Garden
Holdings
Co.
Ltd.
36,858
25,696
Country
Garden
Services
Holdings
Co.
Ltd.
11,000
47,456
CSC
Financial
Co.
Ltd.,
Class
A
1,300
4,259
CSPC
Pharmaceutical
Group
Ltd.
47,760
49,305
Ecovacs
Robotics
Co.
Ltd.,
Class
A
100
1,641
ENN
Energy
Holdings
Ltd.
4,300
58,037
Flat
Glass
Group
Co.
Ltd.,
Class
A
400
2,465
Flat
Glass
Group
Co.
Ltd.,
Class
H
2,000
7,239
Focus
Media
Information
Technology
Co.
Ltd.,
Class
A
8,400
7,435
Foshan
Haitian
Flavouring
&
Food
Co.
Ltd.,
Class
A
2,002
24,777
Fosun
International
Ltd.
16,000
17,007
Founder
Securities
Co.
Ltd.,
Class
A
4,700
4,367
Foxconn
Industrial
Internet
Co.
Ltd.,
Class
A
3,900
5,637
Fuyao
Glass
Industry
Group
Co.
Ltd.,
Class
A
300
1,619
Fuyao
Glass
Industry
Group
Co.
Ltd.,
Class
H
(a)
3,600
14,958
Ganfeng
Lithium
Co.
Ltd.,
Class
A
500
8,401
Ganfeng
Lithium
Co.
Ltd.,
Class
H
(a)
1,400
17,094
GDS
Holdings
Ltd.,
Class
A
(b)
6,000
25,809
Geely
Automobile
Holdings
Ltd.
30,000
47,565
GF
Securities
Co.
Ltd.,
Class
A
4,000
9,759
GF
Securities
Co.
Ltd.,
Class
H
7,000
8,850
Gigadevice
Semiconductor
Beijing,
Inc.,
Class
A
280
5,305
GoerTek
,
Inc.,
Class
A
1,300
6,917
Gongniu
Group
Co.
Ltd.,
Class
A
100
2,177
Gotion
High-tech
Co.
Ltd.,
Class
A
(b)
300
1,221
Great
Wall
Motor
Co.
Ltd.,
Class
A
600
2,261
Great
Wall
Motor
Co.
Ltd.,
Class
H
18,500
26,644
Gree
Electric
Appliances
Inc.
of
Zhuhai,
Class
A
2,900
13,741
Guangdong
Haid
Group
Co.
Ltd.,
Class
A
600
5,618
Guangzhou
Automobile
Group
Co.
Ltd.,
Class
A
800
1,487
Guangzhou
Automobile
Group
Co.
Ltd.,
Class
H
18,000
15,531
Guangzhou
Tinci
Materials
Technology
Co.
Ltd.,
Class
A
300
3,412
Guosen
Securities
Co.
Ltd.,
Class
A
3,000
4,418
Guotai
Junan
Securities
Co.
Ltd.,
Class
A
4,200
9,309
Guotai
Junan
Securities
Co.
Ltd.,
Class
H
(a),(b)
2,000
2,600
Haidilao
International
Holding
Ltd.
(a)
6,000
11,975
Haier
Smart
Home
Co.
Ltd.,
Class
A
3,400
13,374
Haier
Smart
Home
Co.
Ltd.,
Class
H
12,800
46,331
Haitong
Securities
Co.
Ltd.,
Class
A
6,600
9,068
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
China
–
30.6%
(continued)
Haitong
Securities
Co.
Ltd.,
Class
H
9,200
6,472
Hangzhou
First
Applied
Material
Co.
Ltd.,
Class
A
300
4,224
Hangzhou
Silan
Microelectronics
Co.
Ltd.
300
1,913
Hansoh
Pharmaceutical
Group
Co.
Ltd.
(a)
6,000
9,956
Henan
Shuanghui
Investment
&
Development
Co.
Ltd.,
Class
A
1,800
8,130
Hengli
Petrochemical
Co.
Ltd.,
Class
A
3,000
9,542
Hoshine
Silicon
Industry
Co.
Ltd.,
Class
A
100
1,206
Huadong
Medicine
Co.
Ltd.,
Class
A
400
2,071
Huaneng
Lancang
River
Hydropower,
Inc.,
Class
A
3,300
3,076
Huaneng
Power
International,
Inc.,
Class
A
3,400
3,768
Huaneng
Power
International,
Inc.,
Class
H
20,000
10,171
Huatai
Securities
Co.
Ltd.,
Class
A
2,100
4,256
Huatai
Securities
Co.
Ltd.,
Class
H
(a)
8,200
11,392
Huaxia
Bank
Co.
Ltd.,
Class
A
6,700
5,543
Huayu
Automotive
Systems
Co.
Ltd.,
Class
A
1,400
4,166
Huazhu
Group
Ltd.
8,100
26,841
Hundsun
Technologies,
Inc.,
Class
A
560
3,237
Iflytek
Co.
Ltd.,
Class
A
1,000
5,617
Industrial
&
Commercial
Bank
of
China
Ltd.,
Class
A
34,100
24,745
Industrial
&
Commercial
Bank
of
China
Ltd.,
Class
H
363,000
219,295
Industrial
Bank
Co.
Ltd.,
Class
A
9,500
29,537
Inner
Mongolia
BaoTou
Steel
Union
Co.
Ltd.,
Class
A
(b)
14,600
4,167
Inner
Mongolia
Yili
Industrial
Group
Co.
Ltd.,
Class
A
3,200
18,689
Innovent
Biologics,
Inc.
(a),(b)
6,000
19,232
JA
Solar
Technology
Co.
Ltd.,
Class
A
600
7,417
JD
Health
International,
Inc.
(a),(b)
5,850
37,690
JD
Logistics,
Inc.
(a),(b)
4,100
8,591
JD.com,
Inc.,
Class
A
(b)
11,466
388,136
Jiangsu
Eastern
Shenghong
Co.
Ltd.,
Class
A
1,600
2,976
Jiangsu
Hengli
Hydraulic
Co.
Ltd.,
Class
A
544
3,793
Jiangsu
Hengrui
Medicine
Co.
Ltd.,
Class
A
2,340
10,473
Jiangsu
King's
Luck
Brewery
JSC
Ltd.,
Class
A
500
3,407
Jiangsu
Yanghe
Brewery
Joint-Stock
Co.
Ltd.,
Class
A
700
16,903
Jiangxi
Copper
Co.
Ltd.,
Class
A
1,600
4,280
Jiangxi
Copper
Co.
Ltd.,
Class
H
4,000
6,383
JiuGui
Liquor
Co.
Ltd.,
Class
A
100
2,274
Kanzhun
Ltd.,
ADR
(b)
253
5,953
KE
Holdings,
Inc.,
ADR
(b)
2,828
40,101
Kingdee
International
Software
Group
Co.
Ltd.
(b)
14,000
29,120
Kuaishou
Technology,
Class
B
(a),(b)
8,400
71,462
Kweichow
Moutai
Co.
Ltd.,
Class
A
600
166,544
LB
Group
Co.
Ltd.,
Class
A
1,200
3,334
Lenovo
Group
Ltd.
36,000
35,238
LI
Auto,
Inc.,
Class
A
(b)
3,000
36,993
Li
Ning
Co.
Ltd.
12,500
99,651
Longfor
Group
Holdings
Ltd.
(a)
9,000
44,735
LONGi
Green
Energy
Technology
Co.
Ltd.,
Class
A
2,240
23,111
Lufax
Holding
Ltd.,
ADR
3,033
16,833
Luxshare
Precision
Industry
Co.
Ltd.,
Class
A
3,100
14,533
Luzhou
Laojiao
Co.
Ltd.,
Class
A
700
22,394
Meituan
,
Class
B
(a),(b)
21,900
480,083
Metallurgical
Corp
of
China
Ltd.,
Class
A
1,700
901
Metallurgical
Corp.
of
China
Ltd.,
Class
H
26,000
6,727
Midea
Group
Co.
Ltd.,
Class
A
2,900
25,135
Montage
Technology
Co.
Ltd.,
Class
A
400
3,525
49
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
China
–
30.6%
(continued)
Muyuan
Foods
Co.
Ltd.,
Class
A
2,520
19,982
NARI
Technology
Co.
Ltd.,
Class
A
3,000
14,574
National
Silicon
Industry
Group
Co.
Ltd.,
Class
A
(b)
400
1,269
NAURA
Technology
Group
Co.
Ltd.,
Class
A
200
7,257
Nayuki
Holdings
Ltd.
(b)
4,000
2,401
NetEase
,
Inc.
10,900
213,939
New
China
Life
Insurance
Co.
Ltd.,
Class
A
1,000
4,529
New
China
Life
Insurance
Co.
Ltd.,
Class
H
2,800
7,155
New
Hope
Liuhe
Co.
Ltd.,
Class
A
(b)
2,100
4,473
Ningxia
Baofeng
Energy
Group
Co.
Ltd.,
Class
A
2,600
5,566
Nio
,
Inc.,
ADR
(b)(c)
7,010
117,067
Nongfu
Spring
Co.
Ltd.,
Class
H
(a)
9,400
50,318
Offcn
Education
Technology
Co.
Ltd.,
Class
A
(b)
800
556
Oppein
Home
Group,
Inc.,
Class
A
200
3,537
Orient
Securities
Co.
Ltd.,
Class
A
1,792
2,492
Orient
Securities
Co.
Ltd.,
Class
H
(a)
2,800
1,709
People's
Insurance
Co.
Group
of
China
Ltd.
(The),
Class
H
32,000
10,278
PetroChina
Co.
Ltd.,
Class
H
118,000
57,149
Pinduoduo
,
Inc.,
ADR
(b)
2,291
98,719
Ping
An
Bank
Co.
Ltd.,
Class
A
7,600
17,676
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
Class
A
5,000
33,824
Ping
An
Insurance
Group
Co.
of
China
Ltd.,
Class
H
31,000
203,081
Poly
Developments
and
Holdings
Group
Co.
Ltd.,
Class
A
6,100
16,780
Postal
Savings
Bank
of
China
Co.
Ltd.,
Class
A
14,800
12,155
Postal
Savings
Bank
of
China
Co.
Ltd.,
Class
H
(a)
49,000
37,471
Power
Construction
Corp.
of
China
Ltd.,
Class
A
4,400
5,184
Rongsheng
Petro
Chemical
Co.
Ltd.,
Class
A
4,500
9,373
SAIC
Motor
Corp.
Ltd.,
Class
A
4,600
11,139
Sany
Heavy
Industry
Co.
Ltd.,
Class
A
4,300
10,771
Satellite
Chemical
Co.
Ltd.,
Class
A
400
2,189
SDIC
Power
Holdings
Co.
Ltd.,
Class
A
1,300
1,910
Seazen
Holdings
Co.
Ltd.,
Class
A
1,500
6,312
SF
Holding
Co.
Ltd.,
Class
A
1,900
14,797
Shaanxi
Coal
Industry
Co.
Ltd.,
Class
A
5,600
14,631
Shandong
Gold
Mining
Co.
Ltd.,
Class
A
1,100
3,200
Shandong
Gold
Mining
Co.
Ltd.,
Class
H
(a)
2,900
5,359
Shandong
Hualu
Hengsheng
Chemical
Co.
Ltd.,
Class
A
800
3,668
Shanghai
Baosight
Software
Co.
Ltd.,
Class
A
300
2,167
Shanghai
Baosight
Software
Co.
Ltd.,
Class
B
1,300
4,797
Shanghai
Electric
Group
Co.
Ltd.,
Class
A
2,000
1,166
Shanghai
Electric
Group
Co.
Ltd.,
Class
H
20,000
4,894
Shanghai
Fosun
Pharmaceutical
Group
Co.
Ltd.,
Class
A
700
4,567
Shanghai
Fosun
Pharmaceutical
Group
Co.
Ltd.,
Class
H
3,000
12,962
Shanghai
International
Airport
Co.
Ltd.,
Class
A
(b)
700
5,250
Shanghai
International
Port
Group
Co.
Ltd.,
Class
A
7,700
6,932
Shanghai
M&G
Stationery,
Inc.,
Class
A
300
2,177
Shanghai
Pudong
Development
Bank
Co.
Ltd.,
Class
A
10,400
12,678
Shanghai
Putailai
New
Energy
Technology
Co.
Ltd.,
Class
A
200
3,605
Shanxi
Xinghuacun
Fen
Wine
Factory
Co.
Ltd.,
Class
A
560
23,124
Shenwan
Hongyuan
Group
Co.
Ltd.,
Class
A
16,300
10,121
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
China
–
30.6%
(continued)
Shenzhen
Transsion
Holdings
Co.
Ltd.,
Class
A
292
3,750
Shenzhou
International
Group
Holdings
Ltd.
4,400
61,069
Silergy
Corp.
400
36,844
Smoore
International
Holdings
Ltd.
(a)
8,000
17,191
Sunac
China
Holdings
Ltd.
13,000
7,588
Sunny
Optical
Technology
Group
Co.
Ltd.
4,100
60,877
TBEA
Co.
Ltd.,
Class
A
900
2,648
TCL
Technology
Group
Corp.,
Class
A
5,000
3,173
Tencent
Holdings
Ltd.
32,700
1,572,871
Tianjin
Zhonghuan
Semiconductor
Co.
Ltd.,
Class
A
1,100
6,516
Tingyi
Cayman
Islands
Holding
Corp.
10,000
18,327
Tongwei
Co.
Ltd.,
Class
A
1,900
11,855
Topchoice
Medical
Corp.,
Class
A
(b)
100
1,949
Trip.com
Group
Ltd.
(b)
2,600
62,033
Tsingtao
Brewery
Co.
Ltd.,
Class
A
700
9,171
Tsingtao
Brewery
Co.
Ltd.,
Class
H
2,000
16,428
Unigroup
Guoxin
Microelectronics
Co.
Ltd.,
Class
A
200
5,556
Unisplendour
Corp.
Ltd.,
Class
A
500
1,290
Wanhua
Chemical
Group
Co.
Ltd.,
Class
A
1,300
15,364
Weichai
Power
Co.
Ltd.,
Class
A
2,800
4,757
Weichai
Power
Co.
Ltd.,
Class
H
10,000
14,147
Wharf
Holdings
Ltd.
(The)
6,000
17,626
Will
Semiconductor
Ltd.,
Class
A
300
6,854
Wingtech
Technology
Co.
Ltd.,
Class
A
600
5,992
Wuliangye
Yibin
Co.
Ltd.,
Class
A
1,800
44,305
Wuxi
AppTec
Co.
Ltd.,
Class
A
1,440
22,567
Wuxi
AppTec
Co.
Ltd.,
Class
H
(a)
1,800
25,006
Wuxi
Shangji
Automation
Co.,
Ltd.
100
1,861
Xinjiang
Goldwind
Science
&
Technology
Co.
Ltd.,
Class
A
200
343
Xinjiang
Goldwind
Science
&
Technology
Co.
Ltd.,
Class
H
4,600
6,613
Xinyi
Solar
Holdings
Ltd.
24,266
36,618
Xpeng
,
Inc.,
Class
A
(b)
3,400
44,633
Yankuang
Energy
Group
Co.
Ltd.,
Class
A
1,100
5,800
Yankuang
Energy
Group
Co.
Ltd.,
Class
H
8,000
22,839
Yonyou
Network
Technology
Co.
Ltd.,
Class
A
1,200
3,487
Yum
China
Holdings,
Inc.
2,362
98,732
Yunnan
Baiyao
Group
Co.
Ltd.,
Class
A
700
8,106
Yunnan
Energy
New
Material
Co.
Ltd.,
Class
A
400
12,324
Zai
Lab,
Ltd.
(b)
1,500
6,299
Zhangzhou
Pientzehuang
Pharmaceutical
Co.
Ltd.,
Class
A
300
13,943
Zhejiang
Chint
Electrics
Co.
Ltd.,
Class
A
900
4,467
Zhejiang
Dahua
Technology
Co.
Ltd.,
Class
A
1,100
2,792
Zhejiang
Huayou
Cobalt
Co.
Ltd.,
Class
A
500
6,248
Zhejiang
NHU
Co.
Ltd.,
Class
A
900
3,658
Zhejiang
Sanhua
Intelligent
Controls
Co.
Ltd.,
Class
A
1,600
4,071
Zhejiang
Yongtai
Technology
Co.
Ltd.,
Class
A
(b)
100
383
Zhongsheng
Group
Holdings
Ltd.
3,000
19,997
Zhongtai
Securities
Co.
Ltd.,
Class
A
3,000
3,297
Zhuzhou
Crrc
Times
Electric
Co.
Ltd.,
Class
H
3,100
12,386
Zijin
Mining
Group
Co.
Ltd.,
Class
A
6,400
10,756
Zijin
Mining
Group
Co.
Ltd.,
Class
H
34,000
50,700
Zoomlion
Heavy
Industry
Science
and
Technology
Co.
Ltd.,
Class
H
13,600
8,060
ZTE
Corp.,
Class
A
1,200
4,396
ZTE
Corp.,
Class
H
4,200
8,929
50
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
China
–
30.6%
(continued)
ZTO
Express
Cayman,
Inc.
2,800
78,224
10,138,325
Colombia
–
0.1%
Banco
de
Bogota
SA
506
6,420
Bancolombia
SA
1,694
16,531
Ecopetrol
SA
23,884
19,249
42,200
Czech
Republic
–
0.1%
CEZ
AS
870
37,341
Egypt
–
0.1%
Commercial
International
Bank
Egypt
SAE
9,771
23,675
Greece
–
0.1%
Hellenic
Telecommunications
Organization
SA
1,231
23,895
Hong
Kong
–
0.2%
Orient
Overseas
International
Ltd.
1,000
28,116
Sino
Biopharmaceutical
Ltd.
53,500
28,297
Xinyi
Glass
Holdings
Ltd.
11,000
24,759
81,172
Hungary
–
0.1%
OTP
Bank
NYRT
(b)
1,192
35,906
India
–
15.5%
Adani
Enterprises
Ltd.
1,408
42,953
Adani
Green
Energy
Ltd.
(b)
2,083
78,554
Adani
Ports
&
Special
Economic
Zone
Ltd.
4,116
46,112
Adani
Total
Gas
Ltd.
1,393
44,663
Adani
Transmission
Ltd.
(b)
1,425
52,000
Ambuja
Cements
Ltd.
4,343
21,146
Apollo
Hospitals
Enterprise
Ltd.
506
29,485
Asian
Paints
Ltd.
2,519
106,675
Avenue
Supermarts
Ltd.,
Class
A
(a),(b)
800
41,278
Axis
Bank
Ltd.
(b)
12,125
115,568
Bajaj
Auto
Ltd.
292
14,246
Bajaj
Finance
Ltd.
1,472
128,474
Bajaj
Finserv
Ltd.
219
42,719
Berger
Paints
India
Ltd.
1,161
10,904
Bharat
Petroleum
Corp.
Ltd.
4,555
21,606
Bharti
Airtel
Ltd.
(b)
13,252
128,112
Britannia
Industries
Ltd.
630
27,026
Cipla
Ltd.
2,774
35,607
Coal
India
Ltd.
9,488
22,695
Dabur
India
Ltd.
2,685
19,554
Divi's
Laboratories
Ltd.
725
42,730
DLF
Ltd.
3,038
14,778
Dr.
Reddy's
Laboratories
Ltd.
607
32,810
Eicher
Motors
Ltd.
666
22,917
Gail
India
Ltd.
7,806
16,252
Godrej
Consumer
Products
Ltd.
(b)
1,770
18,116
Godrej
Properties
Ltd.
(b)
559
11,506
Grasim
Industries
Ltd.
2,389
52,888
Havells
India
Ltd.
1,173
20,129
HCL
Technologies
Ltd.
6,072
85,727
HDFC
Asset
Management
Co.
Ltd.
(a)
188
5,021
HDFC
Life
Insurance
Co.
Ltd.
(a)
4,390
33,447
Hero
Motocorp
Ltd.
543
17,806
Hindalco
Industries
Ltd.
8,483
53,561
Hindustan
Unilever
Ltd.
4,827
141,121
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
India
–
15.5%
(continued)
Housing
Development
Finance
Corp.
Ltd.
9,839
286,987
ICICI
Bank
Ltd.
28,235
274,547
ICICI
Lombard
General
Insurance
Co.
Ltd.
(a)
826
13,833
ICICI
Prudential
Life
Insurance
Co.
Ltd.
(a)
1,312
9,024
Indian
Oil
Corp.
Ltd.
15,706
25,888
Indian
Railway
Catering
&
Tourism
Corp.
Ltd.
1,209
11,798
Indus
Towers
Ltd.
(b)
4,351
11,896
Indusind
Bank
Ltd.
3,104
39,735
INFO
Edge
India
Ltd.
358
21,783
Infosys
Ltd.
19,986
409,838
Interglobe
Aviation
Ltd.
(a),(b)
589
14,317
ITC
Ltd.
17,072
57,966
JSW
Steel
Ltd.
5,904
56,161
Kotak
Mahindra
Bank
Ltd.
5,777
135,333
Larsen
&
Toubro
Infotech
Ltd.
(a)
275
17,408
Larsen
&
Toubro
Ltd.
3,817
84,604
Mahindra
&
Mahindra
Ltd.
4,923
59,385
Marico
Ltd.
2,389
16,304
Maruti
Suzuki
India
Ltd.
712
71,885
Mindtree
Ltd.
270
12,547
Motherson
Sumi
Systems
Ltd.
3,118
5,613
Nestle
India
Ltd.
191
45,800
NTPC
Ltd.
28,588
58,416
Oil
&
Natural
Gas
Corp.
Ltd.
19,048
39,981
Pidilite
Industries
Ltd.
752
23,843
Piramal
Enterprises
Ltd.
641
18,113
Power
Grid
Corp.
of
India
Ltd.
19,125
56,980
Reliance
Industries
Ltd.
18,582
678,267
SBI
Cards
&
Payment
Services
Ltd.
1,333
14,488
SBI
Life
Insurance
Co.
Ltd.
(a)
2,155
31,165
Shree
Cement
Ltd.
55
18,650
Siemens
Ltd.
399
11,856
SRF
Ltd.
658
21,629
State
Bank
of
India
9,697
62,957
Sun
Pharmaceutical
Industries
Ltd.
6,218
75,539
Tata
Consultancy
Services
Ltd.
5,582
258,988
Tata
Consumer
Products
Ltd.
2,899
31,240
Tata
Motors
Ltd.
(b)
10,325
59,106
Tata
Motors
Ltd.,
Class
A
(b)
1,903
5,408
Tata
Power
Co.
Ltd.
(The)
8,315
26,362
Tata
Steel
Ltd.
4,140
68,838
Tech
Mahindra
Ltd.
3,525
58,056
Titan
Co.
Ltd.
2,368
76,149
Ultratech
Cement
Ltd.
640
55,511
United
Spirits
Ltd.
(b)
1,457
16,446
Vedanta
Ltd.
7,250
38,729
Wipro
Ltd.
8,043
53,534
Zomato
Ltd.
(b)
5,559
5,218
5,146,307
Indonesia
–
2.1%
Astra
International
Tbk
PT
113,100
59,097
Bank
Central
Asia
Tbk
PT
311,800
174,752
Bank
Jago
Tbk
PT
(b)
17,900
14,385
Bank
Mandiri
(
Persero
)
Tbk
PT
105,400
65,071
Bank
Negara
Indonesia
(
Persero
)
Tbk
PT
43,000
27,363
Bank
Rakyat
Indonesia
(
Persero
)
Tbk
PT
341,500
114,721
Barito
Pacific
Tbk
PT
153,200
8,982
Bayan
Resources
Tbk
PT
3,400
9,968
Bukalapak.com
Tbk
PT
(b)
250,600
6,603
Chandra
Asri
Petrochemical
Tbk
PT
16,700
11,577
Charoen
Pokphand
Indonesia
Tbk
PT
42,800
15,204
51
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
Indonesia
–
2.1%
(continued)
Elang
Mahkota
Teknologi
Tbk
PT
(b)
105,000
21,656
Gudang
Garam
Tbk
PT
2,700
5,718
Indofood
CBP
Sukses
Makmur
Tbk
PT
5,900
3,103
Kalbe
Farma
Tbk
PT
98,800
11,177
Merdeka
Copper
Gold
Tbk
PT
(b)
59,100
21,606
Telekomunikasi
Indonesia
(
Persero
)
Tbk
PT
263,700
84,038
Tower
Bersama
Infrastructure
Tbk
PT
38,900
8,077
Unilever
Indonesia
Tbk
PT
25,800
6,923
United
Tractors
Tbk
PT
6,400
13,365
683,386
Kuwait
–
0.9%
Agility
Public
Warehousing
Co.
KSC
7,201
29,373
Boubyan
Bank
KSCP
5,512
17,645
Kuwait
Finance
House
Kscp
29,932
96,208
Mobile
Telecommunications
Co.
KSCP
10,055
22,344
National
Bank
of
Kuwait
SAKP
40,558
139,230
304,800
Malaysia
–
1.8%
Axiata
Group
BHD
22,100
17,818
CIMB
Group
Holdings
BHD
38,229
45,662
Digi.com
BHD
14,600
12,811
Genting
BHD
8,800
9,359
Hap
Seng
Consolidated
BHD
2,300
3,946
Hartalega
Holdings
BHD
8,400
8,490
Hong
Leong
Bank
BHD
4,100
19,758
Hong
Leong
Financial
Group
BHD
700
3,119
IHH
Healthcare
BHD
18,600
28,241
IOI
Corp.
BHD
21,900
23,492
Kuala
Lumpur
Kepong
BHD
3,200
21,654
Malayan
Banking
BHD
39,499
82,291
Maxis
BHD
9,100
7,943
MISC
BHD
6,500
11,661
Mr
DIY
Group
M
BHD
(a)
6,500
5,241
Nestle
Malaysia
BHD
500
15,298
Petronas
Chemicals
Group
BHD
15,100
35,448
Petronas
Dagangan
BHD
1,600
7,990
Petronas
Gas
BHD
5,200
20,282
PPB
Group
BHD
4,000
15,785
Press
Metal
Aluminium
Holdings
BHD
19,900
27,381
Public
Bank
BHD
82,700
89,092
RHB
Bank
BHD
11,939
17,140
Sime
Darby
Plantation
BHD
11,800
14,203
Telekom
Malaysia
BHD
6,000
6,877
Tenaga
Nasional
BHD
16,200
33,639
Top
Glove
Corp.
BHD
26,100
10,072
594,693
Mexico
–
1.7%
America
Movil
SAB
de
CV,
Series
L
130,300
127,053
Arca
Continental
SAB
de
CV
1,500
9,531
Becle
SAB
de
CV
1,400
3,489
Cemex
SAB
de
CV
(b)
78,600
34,701
Fomento
Economico
Mexicano
SAB
de
CV
10,200
76,283
Grupo
Bimbo
SAB
de
CV,
Series
A
6,700
20,627
Grupo
Carso
SAB
de
CV,
Series
A
1,100
3,585
Grupo
Elektra
SAB
de
CV
(b)
295
17,461
Grupo
Financiero
Banorte
SAB
de
CV,
Class
O
13,300
87,652
Grupo
Mexico
SAB
de
CV,
Series
B
17,900
83,841
Wal-Mart
de
Mexico
SAB
de
CV
27,800
98,526
562,749
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
Peru
–
0.1%
Credicorp
Ltd.
341
47,362
Philippines
–
0.8%
AC
Energy
Corp.
41,100
5,684
Ayala
Corp.
1,590
22,462
Ayala
Land,
Inc.
27,700
17,006
Bank
of
The
Philippine
Islands
9,940
18,069
BDO
Unibank
,
Inc.
8,060
20,071
Emperador
,
Inc.
4,500
1,681
Globe
Telecom,
Inc.
160
6,957
International
Container
Terminal
Services,
Inc.
4,390
18,130
JG
Summit
Holdings,
Inc.
19,162
20,445
Manila
Electric
Co.
1,740
11,746
Monde
Nissin
Corp.
(a),(b)
27,100
6,738
PLDT,
Inc.
440
15,727
San
Miguel
Corp.
2,550
5,192
San
Miguel
Food
and
Beverage,
Inc.
2,790
3,314
SM
Investments
Corp.
2,945
48,035
SM
Prime
Holdings,
Inc.
60,900
40,829
Universal
Robina
Corp.
3,680
7,225
269,311
Qatar
–
0.9%
Industries
Qatar
QSC
11,717
60,520
Masraf
Al
Rayan
QSC
20,421
30,224
Mesaieed
Petrochemical
Holding
Co.
20,227
14,385
Qatar
Islamic
Bank
SAQ
5,551
37,329
Qatar
National
Bank
QPSC
25,048
159,914
302,372
Russia
–
0.0%
Alrosa
PJSC
(d)
11,270
0
Gazprom
PJSC
(d)
67,050
0
LUKOIL
PJSC
(d)
2,071
0
Magnitogorsk
Iron
&
Steel
Works
PJSC
(d)
5,210
0
MMC
Norilsk
Nickel
PJSC
(d)
341
0
Novatek
PJSC
(d)
5,535
0
Novolipetsk
Steel
PJSC
(d)
6,530
0
Phosagro
PJSC
(d)
229
0
Pik
Group
PJSC
(d)
401
0
Polyus
PJSC
(d)
181
0
Rosneft
Oil
Co.
PJSC
(d)
13,131
0
Sberbank
of
Russia
PJSC
(d)
59,440
0
Severstal
PAO
PJSC
(d)
859
0
Surgutneftegas
PJSC
(d)
45,300
0
Tatneft
PJSC
(d)
7,934
0
United
Co.
RUSAL
International
PJSC,
Class
A
(b),(d)
10,710
0
VTB
Bank
PJSC
(b),(d)
21,230,000
0
0
Saudi
Arabia
–
4.0%
Al
Rajhi
Bank
6,839
322,003
Almarai
Co.
JSC
1,054
14,612
Banque
Saudi
Fransi
3,115
45,012
Dr
Sulaiman
Al
Habib
Medical
Services
Group
Co.
375
19,996
Riyad
Bank
7,349
79,940
Sabic
Agri
-Nutrients
Co.
1,109
48,076
Saudi
Arabian
Mining
Co.
(b)
2,258
83,077
Saudi
Arabian
Oil
Co.
(a)
10,469
125,322
Saudi
Basic
Industries
Corp.
4,886
170,648
Saudi
British
Bank
(The)
1,980
23,676
Saudi
Electricity
Co.
3,718
26,813
Saudi
National
Bank
(The)
11,588
244,068
52
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
Saudi
Arabia
–
4.0%
(continued)
Saudi
Telecom
Co.
3,500
108,244
Yanbu
National
Petrochemical
Co.
1,363
22,203
1,333,690
South
Africa
–
3.2%
ABSA
Group
Ltd.
3,676
39,939
Anglo
American
Platinum
Ltd.
342
37,942
Aspen
Pharmacare
Holdings
Ltd.
1,847
19,868
Bid
Corp.
Ltd.
1,930
40,330
Capitec
Bank
Holdings
Ltd.
503
70,703
Discovery
Ltd.
(b)
1,804
17,367
Firstrand
Ltd.
29,247
126,650
Gold
Fields
Ltd.
5,052
69,521
Impala
Platinum
Holdings
Ltd.
4,497
58,631
Kumba
Iron
Ore
Ltd.
335
11,310
MTN
Group
Ltd.
9,936
105,973
Naspers
Ltd.,
Class
N
1,198
121,779
Pepkor
Holdings
Ltd.
(a)
4,944
6,696
Sanlam
Ltd.
9,810
40,831
Sasol
Ltd.
(b)
3,219
79,940
Shoprite
Holdings
Ltd.
2,655
38,444
Sibanye
Stillwater
Ltd.
13,466
47,500
Standard
Bank
Group
Ltd.
7,048
74,864
Vodacom
Group
Ltd.
3,980
38,244
1,046,532
South
Korea
–
12.8%
Amorepacific
Corp.
149
21,472
Celltrion
Healthcare
Co.
Ltd.
490
25,046
Celltrion
,
Inc.
558
78,191
CJ
Cheiljedang
Corp.
44
13,943
D&D
Platform
REIT
Co.
Ltd.
(e)
200
861
Doosan
Heavy
Industries
&
Construction
Co.
Ltd.
(b)
1,569
25,734
Ecopro
Bm
Co.
Ltd.
53
20,103
F&F
Co.
Ltd.
/
New
65
7,297
Hana
Financial
Group,
Inc.
1,730
64,737
Hanon
Systems
946
8,586
Hanwha
Solutions
Corp.
(b)
586
14,930
HMM
Co.
Ltd.
1,811
40,949
HYBE
Co.
Ltd.
(b)
99
19,824
Hyundai
Glovis
Co.
Ltd.
119
19,802
Hyundai
Heavy
Industries
Co.
Ltd.
(b)
100
11,147
Hyundai
Mobis
Co.
Ltd.
353
58,318
Hyundai
Motor
Co.
797
118,027
Hyundai
Steel
Co.
372
12,884
Industrial
Bank
of
Korea
1,737
15,558
Kakao
Corp.
1,710
122,396
Kakaobank
Corp.
(b)
264
8,902
KB
Financial
Group,
Inc.
2,195
102,235
KIA
Corp.
1,526
101,814
Korea
Electric
Power
Corp.
(b)
1,252
23,026
Korea
Shipbuilding
&
Offshore
Engineering
Co.
Ltd.
(b)
251
18,345
Korea
Zinc
Co.
Ltd.
62
28,433
Korean
Air
Lines
Co.
Ltd.
(b)
746
17,908
Krafton
,
Inc.
(b)
19
3,812
KT
Corp.
568
16,190
KT&G
Corp.
561
36,894
Kumho
Petrochemical
Co.
Ltd.
89
10,948
L&F
Co.
Ltd.
(b)
112
19,555
LG
Chem
Ltd.
259
107,023
LG
Corp.
629
36,708
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
South
Korea
–
12.8%
(continued)
LG
Display
Co.
Ltd.
1,322
17,630
LG
Electronics,
Inc.
572
53,056
LG
Energy
Solution
(b)
200
66,401
LG
Household
&
Health
Care
Ltd.
41
29,673
LG
Uplus
Corp.
934
10,411
Lotte
Chemical
Corp.
81
12,672
Mirae
Asset
Securities
Co.
Ltd.
2,374
15,216
NAVER
Corp.
823
187,730
NCSoft
Corp.
86
28,861
Netmarble
Corp.
(a)
132
10,047
Pearl
Abyss
Corp.
(b)
190
10,317
POSCO
412
94,799
POSCO
Chemical
Co.
Ltd.
143
15,484
Samsung
Biologics
Co.
Ltd.
(a),(b)
89
59,381
Samsung
C&T
Corp.
540
49,658
Samsung
Electro-Mechanics
Co.
Ltd.
333
44,011
Samsung
Electronics
Co.
Ltd.
27,726
1,487,844
Samsung
Fire
&
Marine
Insurance
Co.
Ltd.
181
30,263
Samsung
Life
Insurance
Co.
Ltd.
480
24,879
Samsung
SDI
Co.
Ltd.
301
146,426
Samsung
SDS
Co.
Ltd.
200
23,647
Shinhan
Financial
Group
Co.
Ltd.
2,787
93,529
SK
Biopharmaceuticals
Co.
Ltd.
(b)
139
10,159
SK
Bioscience
Co.
Ltd.
(b)
108
11,651
SK
Holdings
Co.
Ltd.
190
40,541
SK
Hynix,
Inc.
2,926
262,082
SK
Ie
Technology
Co.
Ltd.
(a),(b)
97
9,808
SK
Innovation
Co.
Ltd.
(b)
323
52,719
SK
Square
Co.
Ltd.
(b)
393
16,490
SK
Telecom
Co.
Ltd.
461
20,921
SKC
Co.
Ltd.
87
10,494
S-Oil
Corp.
182
14,998
Wemade
Co.
Ltd.
91
5,622
Woori
Financial
Group,
Inc.
2,840
33,352
4,232,370
Taiwan
–
14.5%
Advantech
Co.
Ltd.
2,299
28,820
ASE
Technology
Holding
Co.
Ltd.
18,000
58,381
Asustek
Computer,
Inc.
4,000
48,447
AU
Optronics
Corp.
44,000
25,601
Cathay
Financial
Holding
Co.
Ltd.
48,000
101,779
Chailease
Holding
Co.
Ltd.
7,644
61,332
Chang
Hwa
Commercial
Bank
Ltd.
25,926
16,272
China
Development
Financial
Holding
Corp.
81,000
49,327
China
Steel
Corp.
73,000
89,406
Chunghwa
Telecom
Co.
Ltd.
20,000
88,887
CTBC
Financial
Holding
Co.
Ltd.
110,000
109,158
Delta
Electronics,
Inc.
11,000
93,298
E.Sun
Financial
Holding
Co.
Ltd.
69,205
79,476
Ememory
Technology,
Inc.
248
10,812
Evergreen
Marine
Corp.
Taiwan
Ltd.
14,000
68,871
Far
Eastern
New
Century
Corp.
19,000
19,370
Far
Eastone
Telecommunications
Co.
Ltd.
7,000
19,664
Feng
Tay
Enterprise
Co.
Ltd.
2,600
16,892
First
Financial
Holding
Co.
Ltd.
56,529
53,316
Formosa
Chemicals
&
Fibre
Corp.
23,000
62,347
Formosa
Petrochemical
Corp.
8,000
24,861
Formosa
Plastics
Corp.
25,000
89,481
Fubon
Financial
Holding
Co.
Ltd.
44,801
113,084
Globalwafers
Co.
Ltd.
1,000
17,642
Hon
Hai
Precision
Industry
Co.
Ltd.
69,000
238,775
53
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
Taiwan
–
14.5%
(continued)
Hotai
Motor
Co.
Ltd.
2,000
39,355
Hua
Nan
Financial
Holdings
Co.
Ltd.
48,589
39,151
Innolux
Corp.
51,000
23,618
Largan
Precision
Co.
Ltd.
152
8,715
MediaTek
,
Inc.
9,000
253,431
Mega
Financial
Holding
Co.
Ltd.
60,000
84,680
Momo.Com,
Inc.
222
5,958
Nan
Ya
Plastics
Corp.
29,000
85,301
Nan
Ya
Printed
Circuit
Board
Corp.
1,000
13,706
Nanya
Technology
Corp.
6,000
13,353
Novatek
Microelectronics
Corp.
3,000
40,559
Pegatron
Corp.
10,000
23,850
President
Chain
Store
Corp.
3,000
27,837
Quanta
Computer,
Inc.
16,000
45,489
Realtek
Semiconductor
Corp.
3,000
41,475
Shanghai
Commercial
&
Savings
Bank
Ltd.
(The)
21,000
34,910
Taishin
Financial
Holding
Co.
Ltd.
62,036
40,830
Taiwan
Cement
Corp.
26,200
40,799
Taiwan
Cooperative
Financial
Holding
Co.
Ltd.
56,934
55,050
Taiwan
High
Speed
Rail
Corp.
8,000
7,600
Taiwan
Mobile
Co.
Ltd.
8,000
29,448
Taiwan
Semiconductor
Manufacturing
Co.
Ltd.
102,000
1,861,750
Unimicron
Technology
Corp.
6,000
43,358
Uni
-President
Enterprises
Corp.
25,000
58,014
United
Microelectronics
Corp.
63,000
102,166
Vanguard
International
Semiconductor
Corp.
5,000
17,896
Wan
HAI
Lines
Ltd.
6,600
32,692
Wiwynn
Corp.
369
12,769
Yageo
Corp.
2,000
27,447
Yang
Ming
Marine
Transport
Corp.
(b)
9,000
38,473
Yuanta
Financial
Holding
Co.
Ltd.
68,640
60,896
4,795,875
Tanzania
–
0.1%
AngloGold
Ashanti
Ltd.
2,217
46,135
Thailand
–
1.7%
Advanced
INFO
Service
PCL,
NVDR
5,500
34,525
Airports
of
Thailand
PCL,
NVDR
(b)
23,500
45,799
Bangkok
Bank
PCL,
NVDR
4,100
15,622
Bangkok
Dusit
Medical
Services
PCL,
NVDR
22,600
16,991
Bank
of
Ayudhya
PCL,
NVDR
11,100
11,100
Central
Pattana
PCL,
NVDR
5,000
8,832
Central
Retail
Corp.
PCL,
NVDR
18,600
21,451
Charoen
Pokphand
Foods
PCL,
NVDR
10,700
7,529
CP
ALL
PCL,
NVDR
20,000
37,956
Delta
Electronics
Thailand
PCL,
NVDR
2,400
25,436
Energy
Absolute
PCL,
NVDR
9,900
25,581
Global
Power
Synergy
PCL,
NVDR
3,000
5,825
Gulf
Energy
Development
PCL,
NVDR
26,220
37,320
Home
Product
Center
PCL,
NVDR
27,100
11,869
Indorama
Ventures
PCL,
NVDR
12,800
16,911
Intouch
Holdings
PCL,
NVDR
8,100
16,555
Kasikornbank
PCL,
NVDR
5,700
25,463
Krung
Thai
Bank
PCL,
NVDR
19,300
8,565
Krungthai
Card
PCL,
NVDR
4,700
7,925
Minor
International
PCL,
NVDR
(b)
11,300
11,547
PTT
Exploration
&
Production
PCL,
NVDR
6,500
28,657
PTT
Global
Chemical
PCL,
NVDR
8,700
12,701
PTT
Oil
&
Retail
Business
PCL,
NVDR
18,500
13,504
PTT
PCL,
NVDR
46,400
50,803
SCB
X
PCL,
NVDR
10,000
33,577
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Common
Stocks
–
97.2%
(continued)
Thailand
–
1.7%
(continued)
SCG
Packaging
PCL,
NVDR
5,000
8,066
Siam
Cement
PCL
(The),
NVDR
1,600
17,285
557,395
Turkey
–
0.1%
Enka
Insaat
ve
Sanayi
AS
7,318
7,818
Eregli
Demir
ve
Celik
Fabrikalari
TAS
7,586
17,137
Ford
Otomotiv
Sanayi
AS
313
6,298
KOC
Holding
AS
5,760
15,586
46,839
United
Arab
Emirates
–
1.8%
Abu
Dhabi
Commercial
Bank
PJSC
14,062
38,974
Abu
Dhabi
National
Oil
Co.
for
Distribution
PJSC
11,946
13,432
Emirates
NBD
Bank
PJSC
12,457
51,720
Emirates
Telecommunications
Group
Co.
PJSC
18,241
173,816
First
Abu
Dhabi
Bank
PJSC
25,311
154,634
International
Holdings
Co.
PJSC
(b)
2,532
150,484
583,060
United
States
–
0.1%
JBS
SA
4,263
32,625
Total
Common
Stocks
(cost
$28,575,852)
32,219,417
Principal
Amount
($)
Corporate
Bonds
–
0.0%
India
–
0.0%
Britannia
Industries
Ltd.,
Series
N3,
5.50%,
6/03/2024
19,575
255
Total
Corporate
Bonds
(cost
$269)
255
Shares
Preferred
Stocks
–
2.5%
Brazil
–
1.4%
Banco
Bradesco
SA,
1.50%
30,276
110,474
Braskem
SA,
Class
A,
5.02%
929
7,564
Centrais
Eletricas
Brasileiras
SA,
Class
B,
6.68%
1,473
11,966
Gerdau
SA,
2.92%
5,963
33,992
Itau
Unibanco
Holding
SA,
2.71%
25,213
121,885
Itausa
-
Investimentos
Itau
SA,
5.79%
25,093
46,769
Petroleo
Brasileiro
SA,
3.16%
23,882
147,038
479,688
Chile
–
0.2%
Sociedad
Quimica
y
Minera
de
Chile
SA,
Class
B,
2.73%
780
57,879
Colombia
–
0.1%
Bancolombia
SA,
8.18%
2,226
21,488
Grupo
Aval
Acciones
y
Valores
SA,
5.96%
10,946
2,339
23,827
Russia
–
0.0%
Sberbank
of
Russia
PJSC,
14.35%
(d)
4,890
0
Surgutneftegas
PJSC,
10.85%
(d)
37,000
0
Tatneft
PJSC,
Series
3,
10.87%
(d)
266
0
0
South
Korea
–
0.8%
Amorepacific
Corp.,
1.40%
12
725
Hyundai
Motor
Co.,
5.39%
160
12,115
Hyundai
Motor
Co.,
5.60%
35
2,516
Hyundai
Motor
Co.,
5.39%
161
12,101
Kumho
Petrochemical
Co.
Ltd.,
10.61%
10
759
LG
Chem
Ltd.,
4.73%
40
7,962
LG
Electronics,
Inc.,
1.54%
102
4,734
LG
Household
&
Health
Care
Ltd.,
2.44%
5
1,978
54
STATEMENT
OF
INVESTMENTS
(continued)
(a)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
April
30,
2022,
these
securities
were
valued
at
$1,400,600
or
4.23%
of
net
assets.
(b)
Non-income
producing
security.
(c)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$160,195
and
the
value
of
the
collateral
was
$167,355,
consisting
of
cash
collateral
of
$46,536
and
U.S.
Government
&
Agency
securities
valued
at
$120,819.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(d)
The
fund
held
Level
3
securities
at
April
30,
2022.
These
securities
were
valued
at
$0
or
0.00%
of
net
assets.
(e)
Investment
in
a
real
estate
investment
trust.
(f)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
BNY
Mellon
Emerging
Markets
Equity
ETF
(continued)
Description
Shares
Value
($)
Preferred
Stocks
–
2.5%
(continued)
South
Korea
–
0.8%
(continued)
Samsung
Electro-Mechanics
Co.
Ltd.,
2.32%
16
1,187
Samsung
Electronics
Co.
Ltd.,
2.40%
4,564
215,482
Samsung
Fire
&
Marine
Insurance
Co.
Ltd.,
7.43%
21
2,717
Samsung
SDI
Co.
Ltd.,
0.34%
6
1,455
263,731
Total
Preferred
Stocks
(cost
$620,219)
825,125
Rights
–
0.0%
China
–
0.0%
Orient
Securities
Co.
Ltd.,
Rights
expiring
5/25/2022
(b)
784
0
Total
Rights
(cost
$0)
0
Investment
Companies
–
0.1%
Registered
Investment
Companies
–
0.1%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(f)(g)
(cost
$26,961)
26,961
26,961
Investment
of
Cash
Collateral
for
Securities
Loaned
–
0.1%
Registered
Investment
Companies
–
0.1%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(f)(g)
(cost
$46,536)
46,536
46,536
Total
Investments
(cost
$29,269,837)
99.9%
33,118,294
Cash
and
Receivables
(Net)
0.1%
22,432
Net
Assets
100.0%
33,140,726
ADR—American
Depositary
Receipt
NVDR—Non-Voting
Depositary
Receipt
REIT—Real
Estate
Investment
Trust
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
14,285
415,794
(403,118)
—
—
26,961
0.1
8
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
151,079
242,895
(347,438)
—
—
46,536
0.1
57
2
Total
165,364
658,689
(750,556)
—
—
73,497
0.2
65
1
Includes
reinvested
dividends/distributions.
55
(g)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
See
Notes
to
Financial
Statements
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
Portfolio
Summary
(Unaudited)
†
Value
(%)
Financials
23.5
Information
Technology
19.8
Consumer
Discretionary
12.8
Communication
Services
11.4
Materials
8.9
Consumer
Staples
6.5
Energy
5.6
Industrials
4.7
Health
Care
2.5
Utilities
2.4
Real
Estate
1.6
Registered
Investment
Companies
0.2
99.9
†
Based
on
net
assets.
Futures
Description
Number
of
Contracts
Expiration
Notional
Value
($)
Market
Value
($)
Unrealized
Appreciation
(Depreciation)
($)
Futures
Long
MSCI
Emerging
Markets
Index
3
6/17/2022
160,629
158,610
(2,019)
56
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
Core
Bond
ETF
Description
Principal
Amount
($)
Value
($)
Asset-Backed
Securities
–
0.2%
Capital
One
Multi-Asset
Execution
Trust
Series
2022-A1,
Class
A1,
2.80%,
3/15/2027
40,000
39,559
Series
2019-A3,
Class
A3,
2.06%,
8/15/2028
40,000
37,793
CarMax
Auto
Owner
Trust,
Series
2021-4,
Class
A4,
0.82%,
4/15/2027
140,000
130,235
Ford
Credit
Auto
Lease
Trust,
Series
2021-B,
Class
A3,
0.37%,
10/15/2024
60,000
58,205
Mercedes-Benz
Auto
Lease
Trust,
Series
2021-A,
Class
A4,
0.32%,
10/15/2026
35,000
33,972
Synchrony
Credit
Card
Master
Note
Trust,
Series
2018-2,
Class
A,
3.47%,
5/15/2026
125,000
125,952
Toyota
Auto
Receivables
Owner
Trust,
Series
2020-D,
Class
A4,
0.47%,
1/15/2026
90,000
86,112
Volkswagen
Auto
Loan
Enhanced
Trust,
Series
2021-1,
Class
A4,
1.26%,
10/20/2028
100,000
94,045
World
Omni
Select
Auto
Trust,
Series
2021-A,
Class
A3,
0.53%,
3/15/2027
125,000
121,139
Total
Asset-Backed
Securities
(cost
$743,903)
727,012
Commercial
Mortgage-Backed
Securities
–
1.1%
Bank
Trust
Series
2019-BN16,
Class
A4,
4.01%,
2/15/2052
85,000
85,075
Series
2019-BN21,
Class
A5,
2.85%,
10/17/2052
50,000
46,448
Series
2021-BN31,
Class
A4,
2.04%,
2/15/2054
375,000
322,323
Series
2017-BNK6,
Class
A4,
3.25%,
7/15/2060
50,000
48,727
Series
2019-BN18,
Class
A4,
3.58%,
5/15/2062
45,000
43,899
Barclays
Commercial
Mortgage
Trust,
Series
2019-C4,
Class
A5,
2.92%,
8/15/2052
25,000
23,271
BBCMS
Mortgage
Trust
Series
2020-C6,
Class
A4,
2.64%,
2/15/2053
60,000
54,727
Series
2021-C9,
Class
A5,
2.30%,
2/15/2054
50,000
43,905
Benchmark
Mortgage
Trust
Series
2020-IG1,
Class
AS,
2.91%,
9/15/2043
50,000
45,020
Series
2018-B3,
Class
A3,
3.75%,
4/10/2051
175,000
174,782
Series
2021-B27,
Class
A5,
2.39%,
7/15/2054
120,000
105,433
Citigroup
Commercial
Mortgage
Trust,
Series
2015-GC35,
Class
A4,
3.82%,
11/10/2048
100,000
99,661
COMM
Mortgage
Trust
Series
2014-UBS6,
Class
AM,
4.05%,
12/10/2047
125,000
124,542
Series
2015-CR26,
Class
A3,
3.36%,
10/10/2048
94,255
93,016
Series
2015-LC23,
Class
A4,
3.77%,
10/10/2048
50,000
49,788
CSAIL
Commercial
Mortgage
Trust
Series
2015-C4,
Class
C,
4.71%,
11/15/2048
108,000
105,784
Series
2018-CX11,
Class
A4,
3.77%,
4/15/2051
50,000
49,475
GS
Mortgage
Securities
Trust
Series
2017-GS8,
Class
A3,
3.21%,
11/10/2050
80,000
77,188
Series
2017-GS8,
Class
A4,
3.47%,
11/10/2050
25,000
24,379
JPMBB
Commercial
Mortgage
Securities
Trust,
Series
2014-C24,
Class
A4A1,
3.37%,
11/15/2047
100,000
98,777
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Commercial
Mortgage-Backed
Securities
–
1.1%
(continued)
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust
Series
2014-C17,
Class
A5,
3.74%,
8/15/2047
35,000
34,946
Series
2016-C29,
Class
A4,
3.33%,
5/15/2049
150,000
147,020
Morgan
Stanley
Capital
I
Trust
Series
2016-UBS9,
Class
A4,
3.59%,
3/15/2049
50,000
49,508
Series
2020-L4,
Class
A3,
2.70%,
2/15/2053
100,000
91,058
UBS
Commercial
Mortgage
Trust
Series
2018-C8,
Class
A3,
3.72%,
2/15/2051
30,000
29,596
Series
2019-C16,
Class
A4,
3.60%,
4/15/2052
75,000
73,159
Wells
Fargo
Commercial
Mortgage
Trust
Series
2015-C28,
Class
A4,
3.54%,
5/15/2048
60,000
59,634
Series
2016-C34,
Class
AS,
3.48%,
6/15/2049
100,000
95,563
Series
2017-C41,
Class
A3,
3.21%,
11/15/2050
500,000
483,418
Series
2017-C41,
Class
A4,
3.47%,
11/15/2050
10,000
9,737
Series
2019-C50,
Class
A5,
3.73%,
5/15/2052
150,000
147,277
Series
2020-C55,
Class
A5,
2.73%,
2/15/2053
100,000
91,427
Series
2016-NXS5,
Class
A5,
3.37%,
1/15/2059
50,000
49,106
WFRBS
Commercial
Mortgage
Trust
Series
2014-C24,
Class
A5,
3.61%,
11/15/2047
30,000
29,792
Series
2014-C22,
Class
A5,
3.75%,
9/15/2057
10,000
9,978
Total
Commercial
Mortgage-Backed
Securities
(cost
$3,428,489)
3,117,439
Corporate
Bonds
–
24.4%
Basic
Materials
–
0.7%
Air
Products
&
Chemicals,
Inc.
2.05%,
5/15/2030
31,000
27,195
2.70%,
5/15/2040
50,000
40,425
2.80%,
5/15/2050
10,000
7,778
BHP
Billiton
Finance
USA
Ltd.,
4.13%,
2/24/2042
35,000
33,953
Celulosa
Arauco
y
Constitucion
SA,
4.50%,
8/01/2024
75,000
75,740
Dow
Chemical
Co.
(The),
4.38%,
11/15/2042
20,000
18,812
DuPont
de
Nemours,
Inc.
4.49%,
11/15/2025
15,000
15,293
5.42%,
11/15/2048
150,000
159,978
Eastman
Chemical
Co.,
4.65%,
10/15/2044
50,000
47,735
Ecolab,
Inc.
4.80%,
3/24/2030
35,000
36,977
1.30%,
1/30/2031
(a)
20,000
16,220
2.13%,
8/15/2050
(a)
10,000
6,761
2.75%,
8/18/2055
10,000
7,374
EI
du
Pont
de
Nemours
and
Co.,
1.70%,
7/15/2025
130,000
122,700
Fibria
Overseas
Finance
Ltd.,
5.50%,
1/17/2027
50,000
51,260
FMC
Corp.
3.45%,
10/01/2029
50,000
46,704
4.50%,
10/01/2049
25,000
23,419
Freeport-McMoRan,
Inc.
4.25%,
3/01/2030
50,000
47,085
5.45%,
3/15/2043
20,000
19,931
Georgia-Pacific
LLC,
8.00%,
1/15/2024
70,000
75,560
Huntsman
International
LLC
4.50%,
5/01/2029
10,000
9,814
57
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Basic
Materials
–
0.7%
(continued)
2.95%,
6/15/2031
50,000
43,321
International
Flavors
&
Fragrances,
Inc.,
5.00%,
9/26/2048
20,000
19,561
International
Paper
Co.,
4.80%,
6/15/2044
138,000
135,184
Kinross
Gold
Corp.,
5.95%,
3/15/2024
12,000
12,427
LYB
International
Finance
III
LLC
3.38%,
10/01/2040
20,000
16,223
3.80%,
10/01/2060
10,000
7,720
LyondellBasell
Industries
NV,
4.63%,
2/26/2055
10,000
9,082
Mosaic
Co.
(The)
4.25%,
11/15/2023
10,000
10,118
4.88%,
11/15/2041
10,000
9,653
Newmarket
Corp.,
2.70%,
3/18/2031
25,000
21,407
Newmont
Corp.,
4.88%,
3/15/2042
35,000
35,938
Nucor
Corp.,
2.00%,
6/01/2025
80,000
76,527
Nutrien
Ltd.
4.20%,
4/01/2029
20,000
20,049
2.95%,
5/13/2030
70,000
63,515
3.95%,
5/13/2050
15,000
13,630
Rio
Tinto
Alcan,
Inc.,
6.13%,
12/15/2033
50,000
59,052
Sherwin-Williams
Co.
(The)
2.30%,
5/15/2030
25,000
21,670
4.00%,
12/15/2042
40,000
34,743
3.30%,
5/15/2050
25,000
19,529
Southern
Copper
Corp.
3.88%,
4/23/2025
30,000
29,808
5.88%,
4/23/2045
20,000
22,053
Steel
Dynamics,
Inc.,
3.25%,
10/15/2050
25,000
19,234
Suzano
Austria
GMBH
5.00%,
1/15/2030
20,000
19,016
Series
DM3N,
3.13%,
1/15/2032
130,000
105,205
Vale
Overseas
Ltd.
6.25%,
8/10/2026
130,000
136,893
3.75%,
7/08/2030
175,000
157,932
6.88%,
11/10/2039
5,000
5,489
Westlake
Chemical
Corp.,
5.00%,
8/15/2046
25,000
24,537
2,040,230
Communications
–
2.4%
Alphabet,
Inc.
1.10%,
8/15/2030
24,000
19,758
2.05%,
8/15/2050
60,000
41,343
2.25%,
8/15/2060
10,000
6,652
Amazon.com,
Inc.
0.80%,
6/03/2025
25,000
23,275
3.30%,
4/13/2027
40,000
39,709
1.20%,
6/03/2027
100,000
89,298
3.15%,
8/22/2027
200,000
195,965
1.65%,
5/12/2028
25,000
22,297
1.50%,
6/03/2030
25,000
21,094
2.10%,
5/12/2031
25,000
21,780
3.60%,
4/13/2032
(a)
35,000
34,358
2.88%,
5/12/2041
30,000
24,790
4.05%,
8/22/2047
35,000
34,080
2.50%,
6/03/2050
50,000
36,990
2.70%,
6/03/2060
10,000
7,153
3.25%,
5/12/2061
60,000
48,638
4.10%,
4/13/2062
40,000
38,229
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Communications
–
2.4%
(continued)
America
Movil
SAB
de
CV
2.88%,
5/07/2030
360,000
323,414
6.13%,
3/30/2040
70,000
79,971
AT&T,
Inc.
4.45%,
4/01/2024
24,000
24,626
3.40%,
5/15/2025
53,000
53,510
3.88%,
1/15/2026
110,000
111,240
4.13%,
2/17/2026
25,000
25,784
1.70%,
3/25/2026
25,000
23,076
2.95%,
7/15/2026
50,000
48,537
3.80%,
2/15/2027
30,000
29,976
4.10%,
2/15/2028
25,000
25,128
4.30%,
2/15/2030
25,000
25,097
2.75%,
6/01/2031
50,000
44,103
2.25%,
2/01/2032
50,000
41,637
2.55%,
12/01/2033
50,000
41,428
4.85%,
3/01/2039
35,000
35,023
3.50%,
6/01/2041
25,000
20,790
3.10%,
2/01/2043
40,000
30,963
4.85%,
7/15/2045
50,000
48,472
4.55%,
3/09/2049
50,000
47,347
3.30%,
2/01/2052
200,000
151,522
3.50%,
9/15/2053
119,000
93,304
3.55%,
9/15/2055
50,000
38,725
3.80%,
12/01/2057
65,000
52,166
3.65%,
9/15/2059
50,000
38,458
3.85%,
6/01/2060
45,000
35,697
Bell
Telephone
Co.
of
Canada
Or
Bell
Canada
(The),
4.30%,
7/29/2049
25,000
23,485
Booking
Holdings,
Inc.,
3.65%,
3/15/2025
50,000
50,150
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital
4.50%,
2/01/2024
25,000
25,318
4.91%,
7/23/2025
210,000
213,899
4.20%,
3/15/2028
25,000
24,147
5.05%,
3/30/2029
50,000
49,886
2.80%,
4/01/2031
50,000
41,599
2.30%,
2/01/2032
45,000
35,149
3.50%,
6/01/2041
45,000
32,976
5.75%,
4/01/2048
50,000
46,648
5.13%,
7/01/2049
75,000
64,409
4.80%,
3/01/2050
10,000
8,296
3.70%,
4/01/2051
15,000
10,565
6.83%,
10/23/2055
125,000
131,840
3.85%,
4/01/2061
100,000
68,257
4.40%,
12/01/2061
10,000
7,471
Cisco
Systems,
Inc.
2.95%,
2/28/2026
25,000
24,708
5.50%,
1/15/2040
25,000
28,707
Comcast
Corp.
2.35%,
1/15/2027
45,000
42,245
3.55%,
5/01/2028
50,000
48,838
4.15%,
10/15/2028
25,000
25,182
1.50%,
2/15/2031
50,000
40,648
4.20%,
8/15/2034
150,000
146,856
5.65%,
6/15/2035
25,000
27,786
4.60%,
10/15/2038
25,000
25,054
6.55%,
7/01/2039
100,000
124,258
3.25%,
11/01/2039
143,000
120,938
3.75%,
4/01/2040
15,000
13,516
58
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Communications
–
2.4%
(continued)
2.80%,
1/15/2051
20,000
14,693
4.95%,
10/15/2058
90,000
94,610
2.65%,
8/15/2062
50,000
33,026
Corning,
Inc.
3.90%,
11/15/2049
50,000
44,080
4.38%,
11/15/2057
35,000
31,587
5.85%,
11/15/2068
50,000
54,374
Deutsche
Telekom
International
Finance
BV
8.75%,
6/15/2030
10,000
12,678
9.25%,
6/01/2032
100,000
136,205
Discovery
Communications
LLC
3.95%,
3/20/2028
25,000
24,026
3.63%,
5/15/2030
100,000
91,823
4.88%,
4/01/2043
25,000
22,183
4.00%,
9/15/2055
24,000
17,929
eBay,
Inc.
4.00%,
7/15/2042
100,000
88,802
3.65%,
5/10/2051
3,000
2,419
Fox
Corp.
4.71%,
1/25/2029
10,000
10,052
3.50%,
4/08/2030
10,000
9,267
Interpublic
Group
of
Cos.,
Inc.
(The),
3.38%,
3/01/2041
60,000
48,257
Juniper
Networks,
Inc.
1.20%,
12/10/2025
10,000
9,123
3.75%,
8/15/2029
50,000
47,763
Motorola
Solutions,
Inc.
2.30%,
11/15/2030
45,000
36,869
5.50%,
9/01/2044
22,000
21,950
Omnicom
Group,
Inc.,
2.60%,
8/01/2031
(a)
25,000
21,614
Rogers
Communications,
Inc.,
2.90%,
11/15/2026
35,000
33,543
TCI
Communications,
Inc.,
7.88%,
2/15/2026
100,000
113,672
Telefonica
Emisiones
SA,
7.05%,
6/20/2036
30,000
34,624
TELUS
Corp.,
2.80%,
2/16/2027
40,000
38,478
Time
Warner
Cable
LLC
7.30%,
7/01/2038
10,000
11,259
6.75%,
6/15/2039
75,000
80,123
5.50%,
9/01/2041
125,000
118,016
T-Mobile
USA,
Inc.
1.50%,
2/15/2026
20,000
18,258
3.75%,
4/15/2027
10,000
9,737
2.05%,
2/15/2028
30,000
26,470
2.40%,
3/15/2029
(b)
100,000
87,615
3.88%,
4/15/2030
10,000
9,465
2.55%,
2/15/2031
20,000
17,029
4.38%,
4/15/2040
50,000
46,032
4.50%,
4/15/2050
10,000
9,112
TWDC
Enterprises
18
Corp.,
4.13%,
6/01/2044
15,000
14,078
VeriSign,
Inc.
5.25%,
4/01/2025
100,000
102,951
4.75%,
7/15/2027
35,000
34,996
Verizon
Communications,
Inc.
2.63%,
8/15/2026
30,000
28,499
4.33%,
9/21/2028
150,000
150,936
1.75%,
1/20/2031
80,000
65,183
2.55%,
3/21/2031
175,000
151,894
2.36%,
3/15/2032
(b)
50,000
42,133
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Communications
–
2.4%
(continued)
2.65%,
11/20/2040
20,000
15,140
3.40%,
3/22/2041
35,000
29,464
2.85%,
9/03/2041
50,000
39,126
4.86%,
8/21/2046
50,000
50,497
4.52%,
9/15/2048
150,000
146,098
2.88%,
11/20/2050
55,000
40,165
5.01%,
8/21/2054
25,000
26,455
3.00%,
11/20/2060
10,000
6,980
3.70%,
3/22/2061
50,000
40,020
ViacomCBS,
Inc.
2.90%,
1/15/2027
37,000
34,998
4.38%,
3/15/2043
120,000
99,675
5.85%,
9/01/2043
25,000
25,184
4.95%,
5/19/2050
(a)
110,000
99,676
Vodafone
Group
PLC
4.13%,
5/30/2025
54,000
54,689
4.38%,
5/30/2028
25,000
25,385
5.25%,
5/30/2048
10,000
9,997
Walt
Disney
Co.
(The)
3.70%,
10/15/2025
150,000
151,362
3.80%,
3/22/2030
150,000
147,160
2.65%,
1/13/2031
75,000
66,909
3.50%,
5/13/2040
30,000
26,410
6,951,057
Consumer,
Cyclical
–
1.7%
Advance
Auto
Parts,
Inc.,
1.75%,
10/01/2027
56,000
49,349
American
Airlines
Pass-Through
Trust,
Series
2017-1,
Class
AA,
3.65%,
2/15/2029
37,875
35,973
American
Honda
Finance
Corp.
1.95%,
5/10/2023
65,000
64,480
0.88%,
7/07/2023
50,000
48,951
1.20%,
7/08/2025
20,000
18,605
AutoNation,
Inc.,
4.75%,
6/01/2030
25,000
24,580
AutoZone,
Inc.
3.25%,
4/15/2025
15,000
14,820
3.63%,
4/15/2025
25,000
24,983
Brunswick
Corp.,
0.85%,
8/18/2024
100,000
93,679
Choice
Hotels
International,
Inc.,
3.70%,
1/15/2031
50,000
45,780
Costco
Wholesale
Corp.,
3.00%,
5/18/2027
33,000
32,438
Cummins,
Inc.,
2.60%,
9/01/2050
50,000
35,136
D.R.
Horton,
Inc.,
5.75%,
8/15/2023
30,000
30,872
Darden
Restaurants,
Inc.,
4.55%,
2/15/2048
70,000
61,385
Delta
Air
Lines
Pass-Through
Trust,
Series
2019-
1,
Class
AA,
3.20%,
4/25/2024
50,000
49,353
Dollar
General
Corp.,
3.50%,
4/03/2030
10,000
9,370
General
Motors
Co.
6.13%,
10/01/2025
150,000
158,090
4.20%,
10/01/2027
150,000
145,194
6.80%,
10/01/2027
50,000
53,827
6.60%,
4/01/2036
15,000
16,172
5.20%,
4/01/2045
50,000
45,598
General
Motors
Financial
Co.,
Inc.
3.70%,
5/09/2023
20,000
20,116
1.70%,
8/18/2023
10,000
9,803
4.00%,
10/06/2026
50,000
48,893
4.35%,
1/17/2027
20,000
19,730
2.35%,
1/08/2031
45,000
36,389
2.70%,
6/10/2031
50,000
41,201
59
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Cyclical
–
1.7%
(continued)
Hasbro,
Inc.
3.55%,
11/19/2026
50,000
48,986
3.50%,
9/15/2027
25,000
24,033
3.90%,
11/19/2029
50,000
47,655
6.35%,
3/15/2040
50,000
54,418
Home
Depot,
Inc.
(The)
3.35%,
9/15/2025
25,000
25,040
2.50%,
4/15/2027
55,000
52,387
0.90%,
3/15/2028
100,000
85,471
1.38%,
3/15/2031
61,000
49,399
4.25%,
4/01/2046
150,000
145,638
3.50%,
9/15/2056
15,000
12,574
Honda
Motor
Co.,
Ltd.
2.27%,
3/10/2025
300,000
291,073
2.97%,
3/10/2032
300,000
272,892
Hyatt
Hotels
Corp.
4.85%,
3/15/2026
50,000
50,453
4.38%,
9/15/2028
25,000
24,189
6.00%,
4/23/2030
25,000
26,257
Jetblue
Pass-Through
Trust,
Series
2020-1,
Class
A,
4.00%,
11/15/2032
36,074
34,524
Kohl's
Corp.,
3.38%,
5/01/2031
(a)
50,000
47,440
Las
Vegas
Sands
Corp.,
3.20%,
8/08/2024
190,000
182,467
Lear
Corp.,
5.25%,
5/15/2049
50,000
46,932
Lennar
Corp.,
4.75%,
5/30/2025
80,000
81,517
Lowe's
Cos.,
Inc.
1.70%,
9/15/2028
75,000
65,401
1.70%,
10/15/2030
40,000
32,701
4.05%,
5/03/2047
10,000
8,778
3.00%,
10/15/2050
10,000
7,329
3.50%,
4/01/2051
30,000
24,016
Magallanes,
Inc.
5.14%,
3/15/2052
(b)
150,000
134,192
5.39%,
3/15/2062
(b)
150,000
133,555
Magna
International,
Inc.,
2.45%,
6/15/2030
20,000
17,529
Marriott
International,
Inc.
3.75%,
10/01/2025
100,000
99,255
Series
AA,
4.65%,
12/01/2028
50,000
49,573
McDonald's
Corp.
3.30%,
7/01/2025
60,000
59,764
2.63%,
9/01/2029
20,000
18,099
4.88%,
12/09/2045
30,000
30,354
4.45%,
3/01/2047
50,000
47,866
4.45%,
9/01/2048
40,000
38,166
MDC
Holdings,
Inc.,
6.00%,
1/15/2043
40,000
37,745
Nike,
Inc.
2.38%,
11/01/2026
40,000
38,282
3.25%,
3/27/2040
40,000
35,545
O'Reilly
Automotive,
Inc.,
1.75%,
3/15/2031
20,000
16,123
PACCAR
Financial
Corp.,
0.35%,
2/02/2024
50,000
47,690
PulteGroup,
Inc.,
6.00%,
2/15/2035
100,000
104,321
PVH
Corp.,
4.63%,
7/10/2025
50,000
50,409
Sands
China
Ltd.,
5.40%,
8/08/2028
150,000
141,369
Southwest
Airlines
Co.
5.25%,
5/04/2025
20,000
20,641
2.63%,
2/10/2030
5,000
4,332
Spirit
Airlines
Pass-Through
Trust,
Series
2015-
1,
Class
A,
4.10%,
4/01/2028
101,706
99,110
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Cyclical
–
1.7%
(continued)
Starbucks
Corp.
2.00%,
3/12/2027
(a)
25,000
23,043
4.50%,
11/15/2048
25,000
23,515
4.45%,
8/15/2049
40,000
37,168
Steelcase,
Inc.,
5.13%,
1/18/2029
15,000
14,626
Target
Corp.
2.25%,
4/15/2025
200,000
194,380
2.50%,
4/15/2026
50,000
48,500
3.63%,
4/15/2046
25,000
22,944
Toyota
Motor
Corp.,
0.68%,
3/25/2024
50,000
47,791
Toyota
Motor
Credit
Corp.,
1.15%,
8/13/2027
20,000
17,571
United
Airlines
Pass-Through
Trust
Series
2012-1,
Class
A,
4.15%,
4/11/2024
13,926
13,815
Series
A,
Class
A,
4.30%,
8/15/2025
31,402
31,327
Series
AA,
Class
AA,
3.50%,
3/01/2030
41,695
38,792
Walgreens
Boots
Alliance,
Inc.,
4.80%,
11/18/2044
25,000
23,473
Walmart,
Inc.
3.40%,
6/26/2023
150,000
151,873
5.88%,
4/05/2027
25,000
27,782
1.50%,
9/22/2028
50,000
44,225
2.38%,
9/24/2029
3,000
2,746
3.95%,
6/28/2038
10,000
9,966
2.50%,
9/22/2041
50,000
40,095
4.05%,
6/29/2048
60,000
60,404
Whirlpool
Corp.,
4.75%,
2/26/2029
10,000
10,140
5,084,433
Consumer,
Non-cyclical
–
3.9%
Abbott
Laboratories
3.40%,
11/30/2023
20,000
20,181
6.00%,
4/01/2039
25,000
29,718
4.90%,
11/30/2046
20,000
21,912
AbbVie,
Inc.
3.85%,
6/15/2024
50,000
50,406
2.60%,
11/21/2024
150,000
146,513
3.20%,
11/21/2029
45,000
41,950
4.05%,
11/21/2039
35,000
32,120
4.40%,
11/06/2042
45,000
42,657
4.70%,
5/14/2045
75,000
73,112
4.25%,
11/21/2049
150,000
137,513
Adventist
Health
System/West,
3.63%,
3/01/2049
100,000
87,305
Advocate
Health
&
Hospitals
Corp.
3.83%,
8/15/2028
50,000
49,489
Series
2020,
2.21%,
6/15/2030
15,000
13,203
Aetna,
Inc.
6.63%,
6/15/2036
50,000
58,738
4.75%,
3/15/2044
35,000
34,281
Ahold
Finance
USA
LLC,
6.88%,
5/01/2029
25,000
28,472
AHS
Hospital
Corp.,
5.02%,
7/01/2045
50,000
54,187
Altria
Group,
Inc.
4.40%,
2/14/2026
10,000
10,117
2.45%,
2/04/2032
35,000
28,045
5.80%,
2/14/2039
75,000
74,446
3.40%,
2/04/2041
50,000
36,621
4.50%,
5/02/2043
40,000
33,311
4.45%,
5/06/2050
15,000
12,073
4.00%,
2/04/2061
10,000
7,242
60
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Non-cyclical
–
3.9%
(continued)
AmerisourceBergen
Corp.,
3.45%,
12/15/2027
50,000
48,677
Amgen,
Inc.
3.63%,
5/22/2024
50,000
50,384
2.30%,
2/25/2031
45,000
38,652
4.40%,
5/01/2045
225,000
209,469
4.56%,
6/15/2048
20,000
19,229
2.77%,
9/01/2053
10,000
6,946
Anheuser-Busch
Cos.
LLC
/
Anheuser-Busch
InBev
Worldwide,
Inc.,
4.90%,
2/01/2046
15,000
14,793
Anheuser-Busch
InBev
Finance,
Inc.
4.00%,
1/17/2043
65,000
56,682
4.90%,
2/01/2046
25,000
24,512
Anheuser-Busch
InBev
Worldwide,
Inc.
3.50%,
6/01/2030
110,000
104,496
4.90%,
1/23/2031
75,000
78,036
4.38%,
4/15/2038
25,000
23,749
4.35%,
6/01/2040
100,000
93,704
4.95%,
1/15/2042
25,000
24,869
3.75%,
7/15/2042
30,000
25,363
5.80%,
1/23/2059
20,000
21,793
Anthem,
Inc.
2.25%,
5/15/2030
10,000
8,658
6.38%,
6/15/2037
10,000
12,090
4.63%,
5/15/2042
35,000
34,473
4.65%,
8/15/2044
15,000
14,700
4.38%,
12/01/2047
10,000
9,556
4.55%,
3/01/2048
28,000
27,249
3.60%,
3/15/2051
10,000
8,426
Archer-Daniels-Midland
Co.
2.50%,
8/11/2026
25,000
24,026
4.54%,
3/26/2042
87,000
89,758
Ascension
Health,
3.95%,
11/15/2046
25,000
24,128
AstraZeneca
Finance
LLC,
1.20%,
5/28/2026
75,000
68,165
AstraZeneca
PLC
3.50%,
8/17/2023
65,000
65,548
0.70%,
4/08/2026
90,000
80,479
Banner
Health,
2.34%,
1/01/2030
25,000
22,204
Baptist
Healthcare
System
Obligated
Group,
Series
20B,
3.54%,
8/15/2050
25,000
21,093
BAT
Capital
Corp.
3.22%,
8/15/2024
100,000
98,695
3.22%,
9/06/2026
40,000
37,750
4.39%,
8/15/2037
20,000
17,033
5.28%,
4/02/2050
50,000
43,890
BAT
International
Finance
PLC,
1.67%,
3/25/2026
30,000
26,949
Baxalta,
Inc.,
4.00%,
6/23/2025
15,000
15,095
Baxter
International,
Inc.
0.87%,
12/01/2023
(b)
50,000
48,101
1.92%,
2/01/2027
(b)
50,000
45,493
2.54%,
2/01/2032
(b)
50,000
42,830
Becton,
Dickinson
&
Co.
3.36%,
6/06/2024
50,000
49,814
3.73%,
12/15/2024
10,000
10,020
3.70%,
6/06/2027
10,000
9,842
3.79%,
5/20/2050
20,000
17,120
Biogen,
Inc.,
2.25%,
5/01/2030
25,000
20,884
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Non-cyclical
–
3.9%
(continued)
Boston
Scientific
Corp.
1.90%,
6/01/2025
10,000
9,465
2.65%,
6/01/2030
25,000
22,269
Bristol-Myers
Squibb
Co.
3.90%,
2/20/2028
10,000
10,074
1.45%,
11/13/2030
10,000
8,194
2.95%,
3/15/2032
15,000
13,777
2.35%,
11/13/2040
20,000
15,138
3.55%,
3/15/2042
10,000
8,931
4.55%,
2/20/2048
28,000
28,210
2.55%,
11/13/2050
20,000
14,467
3.70%,
3/15/2052
50,000
44,368
3.90%,
3/15/2062
25,000
21,923
California
Institute
of
Technology,
4.70%,
11/01/2111
125,000
122,616
Campbell
Soup
Co.
2.38%,
4/24/2030
(a)
29,000
25,003
3.13%,
4/24/2050
15,000
11,162
Cardinal
Health,
Inc.
3.08%,
6/15/2024
75,000
74,338
3.75%,
9/15/2025
100,000
100,094
4.60%,
3/15/2043
25,000
22,864
4.50%,
11/15/2044
40,000
36,190
Children's
Hospital
Medical
Center,
4.27%,
5/15/2044
195,000
196,627
Children's
Hospital
of
Philadelphia
(The),
Series
2020,
2.70%,
7/01/2050
10,000
7,433
Cigna
Corp.
0.61%,
3/15/2024
50,000
47,669
4.13%,
11/15/2025
30,000
30,303
4.50%,
2/25/2026
5,000
5,106
3.40%,
3/01/2027
25,000
24,317
3.05%,
10/15/2027
50,000
47,808
2.38%,
3/15/2031
60,000
51,361
3.40%,
3/15/2051
25,000
19,588
City
of
Hope,
Series
2013,
5.62%,
11/15/2043
35,000
39,950
Clorox
Co.
(The),
3.50%,
12/15/2024
47,000
47,199
Coca-Cola
Co.
(The)
1.45%,
6/01/2027
125,000
113,679
1.00%,
3/15/2028
(a)
20,000
17,320
2.13%,
9/06/2029
50,000
44,759
3.45%,
3/25/2030
15,000
14,624
2.25%,
1/05/2032
25,000
21,944
3.00%,
3/05/2051
25,000
20,483
2.50%,
3/15/2051
35,000
25,850
Coca-Cola
Femsa
SAB
de
CV
2.75%,
1/22/2030
50,000
44,983
1.85%,
9/01/2032
108,000
85,961
Colgate-Palmolive
Co.,
3.70%,
8/01/2047
70,000
66,142
CommonSpirit
Health,
3.35%,
10/01/2029
60,000
55,888
Community
Health
Network,
Inc.,
Series
20-A,
3.10%,
5/01/2050
65,000
50,740
ConAgra
Brands,
Inc.,
4.30%,
5/01/2024
50,000
50,596
Constellation
Brands,
Inc.
4.65%,
11/15/2028
40,000
40,461
4.50%,
5/09/2047
25,000
23,171
5.25%,
11/15/2048
25,000
25,637
3.75%,
5/01/2050
15,000
12,513
61
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Non-cyclical
–
3.9%
(continued)
CVS
Health
Corp.
2.63%,
8/15/2024
22,000
21,644
3.88%,
7/20/2025
25,000
25,112
3.00%,
8/15/2026
10,000
9,669
3.63%,
4/01/2027
10,000
9,839
1.30%,
8/21/2027
20,000
17,512
4.30%,
3/25/2028
10,000
10,043
3.25%,
8/15/2029
30,000
27,939
3.75%,
4/01/2030
15,000
14,330
1.88%,
2/28/2031
45,000
36,938
4.88%,
7/20/2035
100,000
101,890
5.05%,
3/25/2048
40,000
40,201
Danaher
Corp.,
2.60%,
10/01/2050
50,000
35,579
DENTSPLY
Sirona,
Inc.,
3.25%,
6/01/2030
50,000
44,527
Emory
University,
Series
2020,
2.14%,
9/01/2030
15,000
13,281
Equifax,
Inc.,
2.60%,
12/15/2025
15,000
14,329
Fomento
Economico
Mexicano
SAB
de
CV,
3.50%,
1/16/2050
70,000
56,024
General
Mills,
Inc.
4.20%,
4/17/2028
25,000
25,206
2.88%,
4/15/2030
10,000
9,090
George
Washington
University
(The),
Series
2014,
4.30%,
9/15/2044
20,000
20,120
Georgetown
University
(The),
Series
B,
4.32%,
4/01/2049
20,000
18,916
Gilead
Sciences,
Inc.
3.50%,
2/01/2025
25,000
25,027
3.65%,
3/01/2026
40,000
39,742
2.95%,
3/01/2027
25,000
23,957
1.65%,
10/01/2030
25,000
20,705
4.50%,
2/01/2045
25,000
23,627
4.75%,
3/01/2046
150,000
148,779
2.80%,
10/01/2050
25,000
17,866
GlaxoSmithKline
Capital,
Inc.
3.38%,
5/15/2023
40,000
40,312
6.38%,
5/15/2038
70,000
86,049
Global
Payments,
Inc.,
3.75%,
6/01/2023
20,000
20,095
GSK
Consumer
Healthcare
Capital
US
LLC,
3.63%,
3/24/2032
(b)
50,000
47,041
GXO
Logistics,
Inc.,
2.65%,
7/15/2031
(b)
50,000
41,248
Hackensack
Meridian
Health,
Inc.,
Series
2020,
2.68%,
9/01/2041
45,000
35,290
HCA,
Inc.
5.00%,
3/15/2024
60,000
61,445
5.25%,
4/15/2025
10,000
10,317
4.50%,
2/15/2027
50,000
50,236
4.13%,
6/15/2029
50,000
47,953
5.25%,
6/15/2049
5,000
4,747
Hershey
Co.
(The),
2.05%,
11/15/2024
40,000
39,079
Hormel
Foods
Corp.,
1.80%,
6/11/2030
40,000
33,909
Humana,
Inc.,
3.85%,
10/01/2024
30,000
30,151
Illumina,
Inc.,
2.55%,
3/23/2031
100,000
84,641
Indiana
Universal
Health,
Inc.,
3.97%,
11/01/2048
100,000
96,759
Inova
Health
System
Foundation,
4.07%,
5/15/2052
25,000
24,314
JM
Smucker
Co.
(The)
3.50%,
3/15/2025
40,000
39,891
2.38%,
3/15/2030
88,000
76,289
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Non-cyclical
–
3.9%
(continued)
2.13%,
3/15/2032
50,000
41,040
Johns
Hopkins
University,
2.81%,
1/01/2060
25,000
19,213
Johnson
&
Johnson
2.63%,
1/15/2025
40,000
39,670
0.55%,
9/01/2025
10,000
9,205
1.30%,
9/01/2030
(a)
25,000
20,996
Kaiser
Foundation
Hospitals,
Series
2021,
3.00%,
6/01/2051
5,000
3,891
Keurig
Dr
Pepper,
Inc.
3.40%,
11/15/2025
20,000
19,810
3.95%,
4/15/2029
35,000
34,171
3.20%,
5/01/2030
25,000
22,865
3.80%,
5/01/2050
10,000
8,450
4.50%,
4/15/2052
35,000
32,630
Kimberly-Clark
Corp.,
1.05%,
9/15/2027
45,000
39,594
Kraft
Heinz
Foods
Co.
3.00%,
6/01/2026
50,000
47,777
5.20%,
7/15/2045
150,000
146,385
4.38%,
6/01/2046
150,000
131,456
Kroger
Co.
(The),
4.00%,
2/01/2024
50,000
50,531
Laboratory
Corp.
of
America
Holdings
3.25%,
9/01/2024
5,000
4,966
2.30%,
12/01/2024
40,000
38,702
3.60%,
2/01/2025
10,000
9,961
2.95%,
12/01/2029
50,000
45,352
Mass
General
Brigham,
Inc.,
Series
2020,
3.19%,
7/01/2049
(a)
25,000
20,429
Massachusetts
Institute
of
Technology,
3.96%,
7/01/2038
25,000
25,492
McCormick
&
Co.,
Inc.
3.15%,
8/15/2024
10,000
9,951
0.90%,
2/15/2026
20,000
17,944
1.85%,
2/15/2031
15,000
12,304
McKesson
Corp.,
0.90%,
12/03/2025
20,000
18,121
Mead
Johnson
Nutrition
Co.,
5.90%,11/01/2039
20,000
23,273
Medstar
Health,
Inc.,
Series
20A,
3.63%,
8/15/2049
25,000
22,156
Memorial
Sloan-Kettering
Cancer
Center,
Series
2015,
4.20%,
7/01/2055
50,000
48,795
Merck
&
Co.,
Inc.
2.90%,
3/07/2024
20,000
19,978
0.75%,
2/24/2026
15,000
13,652
2.15%,
12/10/2031
20,000
17,407
3.90%,
3/07/2039
10,000
9,693
4.15%,
5/18/2043
65,000
63,717
2.90%,
12/10/2061
25,000
18,264
Molson
Coors
Beverage
Co.
3.00%,
7/15/2026
50,000
47,710
5.00%,
5/01/2042
25,000
23,689
Mondelez
International,
Inc.,
2.63%,
9/04/2050
75,000
52,707
Mount
Sinai
Hospitals
Group,
Inc.
Series
2017,
3.98%,
7/01/2048
20,000
17,957
Series
2019,
3.74%,
7/01/2049
75,000
66,075
Mylan,
Inc.
4.20%,
11/29/2023
25,000
25,206
4.55%,
4/15/2028
(a)
10,000
9,714
New
York
&
Presbyterian
Hospital
(The),
Series
2019,
3.95%,
8/01/2119
60,000
49,621
Northwell
Healthcare,
Inc.,
4.26%,
11/01/2047
50,000
45,801
62
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Non-cyclical
–
3.9%
(continued)
Northwestern
University,
4.64%,
12/01/2044
35,000
36,926
Novartis
Capital
Corp.
2.00%,
2/14/2027
50,000
46,972
3.10%,
5/17/2027
25,000
24,467
4.40%,
5/06/2044
70,000
71,564
NYU
Langone
Hospitals
5.75%,
7/01/2043
50,000
56,861
4.78%,
7/01/2044
75,000
77,611
Ochsner
LSU
Health
System
of
North
Louisiana,
Series
2021,
2.51%,
5/15/2031
50,000
41,319
Orlando
Health
Obligated
Group,
4.09%,
10/01/2048
100,000
95,483
PayPal
Holdings,
Inc.,
1.35%,
6/01/2023
60,000
59,209
PeaceHealth
Obligated
Group,
Series
2020,
3.22%,
11/15/2050
10,000
7,978
PepsiCo,
Inc.
3.50%,
7/17/2025
25,000
25,177
2.38%,
10/06/2026
16,000
15,362
3.50%,
3/19/2040
20,000
18,533
3.60%,
8/13/2042
25,000
22,822
2.88%,
10/15/2049
20,000
16,262
2.75%,
10/21/2051
10,000
7,897
PerkinElmer,
Inc.
3.30%,
9/15/2029
50,000
45,926
2.55%,
3/15/2031
50,000
43,255
Pfizer,
Inc.
3.60%,
9/15/2028
(a)
55,000
55,042
4.00%,
12/15/2036
20,000
19,608
2.55%,
5/28/2040
125,000
100,260
4.00%,
3/15/2049
25,000
24,158
Pharmacia
LLC,
6.60%,
12/01/2028
50,000
57,683
Philip
Morris
International,
Inc.
0.88%,
5/01/2026
50,000
44,913
4.13%,
3/04/2043
50,000
43,054
4.25%,
11/10/2044
180,000
157,820
Piedmont
Healthcare,
Inc.,
Series
2032,
2.04%,
1/01/2032
50,000
41,398
Procter
&
Gamble
Co.
(The)
2.80%,
3/25/2027
35,000
34,030
3.00%,
3/25/2030
20,000
19,057
5.55%,
3/05/2037
100,000
118,980
Quanta
Services,
Inc.,
3.05%,
10/01/2041
100,000
73,945
Quest
Diagnostics,
Inc.,
3.45%,
6/01/2026
50,000
49,186
Regeneron
Pharmaceuticals,
Inc.
1.75%,
9/15/2030
45,000
36,573
2.80%,
9/15/2050
50,000
35,306
Reynolds
American,
Inc.
6.15%,
9/15/2043
25,000
24,348
5.85%,
8/15/2045
100,000
93,391
S&P
Global,
Inc.
2.45%,
3/01/2027
(b)
100,000
94,247
1.25%,
8/15/2030
(a)
10,000
8,148
2.90%,
3/01/2032
(b)
100,000
90,422
3.90%,
3/01/2062
(b)
100,000
87,612
Seattle
Children's
Hospital,
Series
2021,
2.72%,
10/01/2050
25,000
18,589
Sharp
Healthcare,
Series
20B,
2.68%,
8/01/2050
45,000
33,781
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Consumer,
Non-cyclical
–
3.9%
(continued)
Shire
Acquisitions
Investments
Ireland
DAC,
3.20%,
9/23/2026
25,000
24,130
Smith
&
Nephew
PLC,
2.03%,
10/14/2030
45,000
36,342
Steris
Irish
Finco
Unlimited
Co.,
2.70%,
3/15/2031
150,000
128,366
Stryker
Corp.,
3.38%,
11/01/2025
40,000
39,740
Sutter
Health
Series
20A,
3.16%,
8/15/2040
40,000
32,391
Series
2018,
4.09%,
8/15/2048
50,000
45,056
SYSCO
Corp.
4.85%,
10/01/2045
15,000
14,396
3.30%,
2/15/2050
20,000
15,070
Takeda
Pharmaceutical
Co.
Ltd.,
4.40%,
11/26/2023
50,000
50,759
Texas
Health
Resources,
4.33%,
11/15/2055
35,000
35,859
Toledo
Hospital
(The)
Series
B,
5.33%,
11/15/2028
50,000
51,189
6.02%,
11/15/2048
50,000
52,892
Trinity
Health
Corp.,
Series
2021,
2.63%,
12/01/2040
45,000
35,001
Trustees
of
Princeton
University
(The),
2.52%,
7/01/2050
25,000
19,625
Trustees
of
The
University
of
Pennsylvania
(The),
3.61%,
2/15/2119
10,000
7,992
Unilever
Capital
Corp.,
2.00%,
7/28/2026
100,000
94,367
UnitedHealth
Group,
Inc.
3.70%,
12/15/2025
28,000
28,231
3.10%,
3/15/2026
40,000
39,466
2.88%,
8/15/2029
25,000
23,404
2.30%,
5/15/2031
35,000
30,644
6.50%,
6/15/2037
50,000
61,442
3.05%,
5/15/2041
10,000
8,352
4.63%,
11/15/2041
17,000
17,399
3.95%,
10/15/2042
100,000
93,188
4.20%,
1/15/2047
50,000
48,401
4.25%,
6/15/2048
10,000
9,754
4.45%,
12/15/2048
10,000
9,999
3.25%,
5/15/2051
10,000
8,251
3.88%,
8/15/2059
15,000
13,445
University
of
Notre
Dame
Du
Lac
Series
2015,
3.44%,
2/15/2045
50,000
46,640
Series
2017,
3.39%,
2/15/2048
50,000
45,878
University
of
Southern
California,
5.25%,
10/01/2111
50,000
55,982
Utah
Acquisition
Sub,
Inc.,
3.95%,
6/15/2026
10,000
9,716
Verisk
Analytics,
Inc.,
5.50%,
6/15/2045
100,000
107,097
Viatris,
Inc.,
4.00%,
6/22/2050
10,000
7,388
Washington
University
(The),
3.52%,4/15/2054
25,000
22,157
William
Marsh
Rice
University,
3.57%,
5/15/2045
15,000
13,877
Wyeth
LLC,
6.50%,
2/01/2034
25,000
30,508
Zimmer
Biomet
Holdings,
Inc.,
3.05%,
1/15/2026
15,000
14,546
Zoetis,
Inc.
3.90%,
8/20/2028
40,000
39,726
4.45%,
8/20/2048
25,000
24,639
11,516,689
63
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Energy
–
1.9%
Boardwalk
Pipelines
LP
5.95%,
6/01/2026
50,000
52,585
3.40%,
2/15/2031
15,000
13,274
BP
Capital
Markets
America,
Inc.
3.79%,
2/06/2024
10,000
10,086
3.80%,
9/21/2025
10,000
10,081
3.12%,
5/04/2026
25,000
24,407
3.59%,
4/14/2027
80,000
78,851
3.63%,
4/06/2030
10,000
9,633
1.75%,
8/10/2030
10,000
8,321
2.77%,
11/10/2050
65,000
46,920
2.94%,
6/04/2051
10,000
7,412
BP
Capital
Markets
PLC,
3.51%,
3/17/2025
35,000
35,002
Burlington
Resources
LLC,
7.20%,
8/15/2031
85,000
105,239
Canadian
Natural
Resources
Ltd.
2.95%,
7/15/2030
136,000
121,251
7.20%,
1/15/2032
15,000
17,488
Cenovus
Energy,
Inc.
5.25%,
6/15/2037
50,000
49,967
6.75%,
11/15/2039
5,000
5,660
Cheniere
Corpus
Christi
Holdings
LLC,
5.88%,
3/31/2025
10,000
10,407
Chevron
Corp.,
1.14%,
5/11/2023
100,000
98,681
Chevron
USA,
Inc.
0.43%,
8/11/2023
60,000
58,432
2.34%,
8/12/2050
15,000
10,735
ConocoPhillips
Co.
4.95%,
3/15/2026
20,000
21,081
4.03%,
3/15/2062
(b)
200,000
178,009
Coterra
Energy,
Inc.,
4.38%,
3/15/2029
(b)
50,000
49,889
Devon
Energy
Corp.
4.50%,
1/15/2030
100,000
98,726
4.75%,
5/15/2042
25,000
23,782
Diamondback
Energy,
Inc.,
3.25%,
12/01/2026
115,000
111,887
Enbridge,
Inc.,
4.25%,
12/01/2026
25,000
25,190
Energy
Transfer
LP
4.25%,
4/01/2024
50,000
50,347
2.90%,
5/15/2025
75,000
72,383
5.95%,
12/01/2025
50,000
52,587
3.90%,
7/15/2026
85,000
82,768
5.50%,
6/01/2027
50,000
51,782
4.90%,
3/15/2035
98,000
92,287
6.50%,
2/01/2042
25,000
26,162
5.35%,
5/15/2045
50,000
45,725
5.00%,
5/15/2050
50,000
44,529
Enterprise
Products
Operating
LLC
3.90%,
2/15/2024
98,000
98,855
4.85%,
8/15/2042
20,000
19,101
4.45%,
2/15/2043
40,000
36,181
4.85%,
3/15/2044
30,000
28,690
4.25%,
2/15/2048
75,000
66,203
4.95%,
10/15/2054
25,000
24,126
3.95%,
1/31/2060
10,000
8,111
EOG
Resources,
Inc.,
4.15%,
1/15/2026
50,000
51,032
Equinor
ASA
2.65%,
1/15/2024
10,000
9,932
3.25%,
11/10/2024
25,000
24,936
1.75%,
1/22/2026
10,000
9,372
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Energy
–
1.9%
(continued)
3.00%,
4/06/2027
50,000
48,503
4.25%,
11/23/2041
70,000
68,877
3.70%,
4/06/2050
100,000
90,141
Exxon
Mobil
Corp.
2.28%,
8/16/2026
40,000
38,153
2.61%,
10/15/2030
25,000
22,800
4.23%,
3/19/2040
25,000
24,580
3.10%,
8/16/2049
10,000
8,074
4.33%,
3/19/2050
110,000
108,225
3.45%,
4/15/2051
25,000
21,442
Halliburton
Co.
3.50%,
8/01/2023
15,000
15,064
4.85%,
11/15/2035
30,000
29,915
4.50%,
11/15/2041
25,000
22,828
5.00%,
11/15/2045
10,000
9,605
Hess
Corp.
3.50%,
7/15/2024
160,000
159,073
4.30%,
4/01/2027
100,000
99,589
7.88%,
10/01/2029
150,000
179,116
7.30%,
8/15/2031
25,000
29,051
6.00%,
1/15/2040
25,000
26,541
Kinder
Morgan
Energy
Partners
LP
4.30%,
5/01/2024
40,000
40,451
7.75%,
3/15/2032
150,000
178,354
6.50%,
9/01/2039
25,000
27,311
5.00%,
8/15/2042
35,000
32,654
Kinder
Morgan,
Inc.
4.30%,
3/01/2028
55,000
54,770
3.25%,
8/01/2050
35,000
25,065
3.60%,
2/15/2051
20,000
15,377
Magellan
Midstream
Partners
LP,
4.25%,
9/15/2046
50,000
43,679
Marathon
Oil
Corp.
6.80%,
3/15/2032
50,000
55,971
6.60%,
10/01/2037
25,000
27,993
5.20%,
6/01/2045
25,000
24,356
Marathon
Petroleum
Corp.
6.50%,
3/01/2041
10,000
11,281
4.75%,
9/15/2044
50,000
45,979
4.50%,
4/01/2048
10,000
8,815
MPLX
LP
4.88%,
6/01/2025
75,000
76,541
1.75%,
3/01/2026
15,000
13,690
5.20%,
12/01/2047
25,000
23,582
5.50%,
2/15/2049
25,000
24,451
4.90%,
4/15/2058
10,000
8,714
NOV,
Inc.,
3.60%,
12/01/2029
(a)
20,000
18,572
ONEOK
Partners
LP,
6.20%,
9/15/2043
15,000
15,085
ONEOK,
Inc.
4.35%,
3/15/2029
25,000
24,314
6.35%,
1/15/2031
50,000
54,593
Ovintiv
Exploration,
Inc.
5.63%,
7/01/2024
75,000
77,952
5.38%,
1/01/2026
100,000
103,632
Ovintiv,
Inc.
7.20%,
11/01/2031
50,000
57,029
6.50%,
8/15/2034
100,000
110,271
64
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Energy
–
1.9%
(continued)
Phillips
66
1.30%,
2/15/2026
100,000
91,206
3.90%,
3/15/2028
20,000
19,695
2.15%,
12/15/2030
5,000
4,200
4.65%,
11/15/2034
50,000
49,920
Phillips
66
Partners
LP
2.45%,
12/15/2024
50,000
48,324
3.55%,
10/01/2026
50,000
48,631
4.68%,
2/15/2045
25,000
24,098
Pioneer
Natural
Resources
Co.,
2.15%,
1/15/2031
50,000
42,150
Plains
All
American
Pipeline
LP
/
PAA
Finance
Corp.
3.80%,
9/15/2030
50,000
46,170
5.15%,
6/01/2042
40,000
35,094
4.30%,
1/31/2043
25,000
19,916
Sabine
Pass
Liquefaction
LLC,
5.00%,3/15/2027
15,000
15,350
Schlumberger
Investment
SA,
2.65%,6/26/2030
45,000
40,217
Shell
International
Finance
BV
3.25%,
5/11/2025
100,000
99,630
6.38%,
12/15/2038
50,000
61,173
4.38%,
5/11/2045
60,000
58,409
3.75%,
9/12/2046
35,000
31,516
3.13%,
11/07/2049
35,000
28,155
Spectra
Energy
Partners
LP,
4.50%,
3/15/2045
45,000
41,252
Suncor
Energy,
Inc.,
3.75%,
3/04/2051
35,000
29,438
Texas
Eastern
Transmission
LP,
7.00%,
7/15/2032
25,000
29,450
TotalEnergies
Capital
Canada
Ltd.,
2.75%,
7/15/2023
165,000
164,555
TotalEnergies
Capital
International
SA
2.43%,
1/10/2025
10,000
9,748
3.46%,
2/19/2029
10,000
9,688
TransCanada
PipeLines
Ltd.
4.88%,
1/15/2026
25,000
25,708
4.63%,
3/01/2034
40,000
39,571
Transcontinental
Gas
Pipe
Line
Co.
LLC
3.25%,
5/15/2030
15,000
13,806
4.45%,
8/01/2042
35,000
32,465
Valero
Energy
Corp.,
4.00%,
4/01/2029
(a)
20,000
19,449
Williams
Cos.,
Inc.
(The)
6.30%,
4/15/2040
30,000
33,301
5.75%,
6/24/2044
15,000
15,725
4.90%,
1/15/2045
50,000
46,733
Williams
Partners
LP,
5.10%,
9/15/2045
100,000
97,350
5,752,257
Financial
–
8.2%
Aflac,
Inc.,
4.75%,
1/15/2049
50,000
51,557
Air
Lease
Corp.
0.70%,
2/15/2024
20,000
18,950
3.63%,
12/01/2027
50,000
46,583
3.00%,
2/01/2030
25,000
21,568
Alexandria
Real
Estate
Equities,
Inc.
4.90%,
12/15/2030
20,000
20,762
3.00%,
5/18/2051
20,000
14,636
Alleghany
Corp.,
3.63%,
5/15/2030
50,000
48,030
Allstate
Corp.
(The)
4.50%,
6/15/2043
50,000
49,161
Series
B,
5.75%,
8/15/2053
25,000
24,351
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
Ally
Financial,
Inc.
3.88%,
5/21/2024
125,000
125,523
8.00%,
11/01/2031
135,000
157,852
American
Express
Co.
3.70%,
8/03/2023
22,000
22,247
3.40%,
2/22/2024
50,000
50,100
2.25%,
3/04/2025
100,000
96,539
4.20%,
11/06/2025
25,000
25,536
American
Financial
Group,
Inc.,
4.50%,
6/15/2047
25,000
22,962
American
International
Group,
Inc.
2.50%,
6/30/2025
47,000
45,258
4.20%,
4/01/2028
25,000
25,233
6.25%,
5/01/2036
50,000
58,255
American
Tower
Corp.
2.40%,
3/15/2025
(a)
100,000
96,023
1.60%,
4/15/2026
15,000
13,630
3.95%,
3/15/2029
25,000
23,807
2.10%,
6/15/2030
25,000
20,503
1.88%,
10/15/2030
25,000
19,941
2.70%,
4/15/2031
25,000
21,044
3.70%,
10/15/2049
10,000
7,747
3.10%,
6/15/2050
10,000
7,033
Ameriprise
Financial,
Inc.
4.00%,
10/15/2023
50,000
50,614
3.70%,
10/15/2024
50,000
50,323
3.00%,
4/02/2025
10,000
9,864
AON
Corp.,
2.80%,
5/15/2030
55,000
49,011
Ares
Capital
Corp.,
3.88%,
1/15/2026
10,000
9,609
Arthur
J
Gallagher
&
Co.,
3.50%,
5/20/2051
10,000
8,117
Assurant,
Inc.,
3.70%,
2/22/2030
50,000
46,132
Assured
Guaranty
US
Holdings,
Inc.,
5.00%,
7/01/2024
(a)
25,000
25,486
Athene
Holding
Ltd.
3.95%,
5/25/2051
30,000
24,179
3.45%,
5/15/2052
50,000
36,521
AvalonBay
Communities,
Inc.
2.30%,
3/01/2030
10,000
8,794
2.45%,
1/15/2031
20,000
17,744
Axis
Specialty
Finance
LLC,
3.90%,
7/15/2029
15,000
14,462
Bain
Capital
Specialty
Finance,
Inc.
2.95%,
3/10/2026
65,000
59,538
2.55%,
10/13/2026
50,000
43,992
Banco
Bilbao
Vizcaya
Argentaria
SA,
1.13%,
9/18/2025
432,000
392,106
Banco
Santander
SA,
2.75%,
12/03/2030
200,000
165,094
Bank
of
America
Corp.
4.13%,
1/22/2024
25,000
25,363
4.00%,
4/01/2024
50,000
50,704
3.86%,
7/23/2024
25,000
25,057
0.81%,
10/24/2024
200,000
192,055
4.00%,
1/22/2025
20,000
20,030
3.46%,
3/15/2025
100,000
99,222
0.98%,
9/25/2025
25,000
23,288
2.46%,
10/22/2025
25,000
24,087
1.53%,
12/06/2025
75,000
70,306
3.37%,
1/23/2026
50,000
48,919
2.02%,
2/13/2026
105,000
99,302
4.45%,
3/03/2026
50,000
50,142
65
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
3.50%,
4/19/2026
45,000
44,198
1.32%,
6/19/2026
10,000
9,164
6.22%,
9/15/2026
50,000
53,387
1.20%,
10/24/2026
35,000
31,599
3.56%,
4/23/2027
20,000
19,431
1.73%,
7/22/2027
25,000
22,439
Series
L,
4.18%,
11/25/2027
30,000
29,589
3.71%,
4/24/2028
45,000
43,496
3.59%,
7/21/2028
50,000
47,988
4.27%,
7/23/2029
50,000
49,166
3.97%,
2/07/2030
50,000
48,292
3.19%,
7/23/2030
50,000
45,704
2.88%,
10/22/2030
400,000
357,013
1.90%,
7/23/2031
5,000
4,081
1.92%,
10/24/2031
25,000
20,328
2.69%,
4/22/2032
15,000
12,901
2.57%,
10/20/2032
20,000
16,896
2.97%,
2/04/2033
35,000
30,521
2.48%,
9/21/2036
75,000
60,275
4.24%,
4/24/2038
50,000
47,618
4.08%,
4/23/2040
15,000
13,801
2.68%,
6/19/2041
10,000
7,493
4.44%,
1/20/2048
50,000
47,662
4.33%,
3/15/2050
130,000
123,275
4.08%,
3/20/2051
35,000
31,530
2.97%,
7/21/2052
10,000
7,413
Bank
of
Montreal
0.45%,
12/08/2023
35,000
33,560
0.95%,
1/22/2027
20,000
17,963
4.34%,
10/05/2028
65,000
65,419
Bank
of
Nova
Scotia
(The)
0.40%,
9/15/2023
70,000
67,728
3.40%,
2/11/2024
50,000
50,088
0.70%,
4/15/2024
20,000
19,019
4.50%,
12/16/2025
20,000
20,206
1.30%,
9/15/2026
75,000
67,104
Bank
OZK,
2.75%,
10/01/2031
100,000
94,209
Barclays
PLC
3.93%,
5/07/2025
200,000
199,384
2.67%,
3/10/2032
50,000
41,705
Berkshire
Hathaway
Finance
Corp.
4.20%,
8/15/2048
10,000
9,596
4.25%,
1/15/2049
25,000
24,204
Berkshire
Hathaway,
Inc.,
4.50%,
2/11/2043
25,000
24,967
BlackRock,
Inc.,
2.40%,
4/30/2030
50,000
44,622
Boston
Properties
LP
3.65%,
2/01/2026
50,000
49,396
4.50%,
12/01/2028
75,000
75,521
BPCE
SA,
3.38%,
12/02/2026
250,000
242,870
Brighthouse
Financial,
Inc.,
5.63%,
5/15/2030
70,000
73,076
Brixmor
Operating
Partnership
LP,
3.85%,
2/01/2025
10,000
9,988
Brookfield
Asset
Management,
Inc.,
4.00%,
1/15/2025
50,000
50,406
Brookfield
Finance
LLC,
3.45%,
4/15/2050
60,000
47,134
Brookfield
Finance,
Inc.,
3.90%,
1/25/2028
50,000
48,714
Brown
&
Brown,
Inc.,
2.38%,
3/15/2031
50,000
41,522
Cadence
Bank,
4.13%,
11/20/2029
100,000
98,527
Camden
Property
Trust,
3.35%,
11/01/2049
50,000
42,006
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
Canadian
Imperial
Bank
of
Commerce,
3.10%,
4/02/2024
50,000
49,760
Capital
One
Financial
Corp.
3.90%,
1/29/2024
25,000
25,131
3.75%,
4/24/2024
50,000
50,081
3.20%,
2/05/2025
20,000
19,661
4.20%,
10/29/2025
75,000
74,894
3.65%,
5/11/2027
40,000
38,727
CBRE
Services,
Inc.,
4.88%,
3/01/2026
25,000
25,604
Charles
Schwab
Corp.
(The)
3.00%,
3/10/2025
50,000
49,480
4.20%,
3/24/2025
25,000
25,512
2.75%,
10/01/2029
50,000
45,819
Chubb
INA
Holdings,
Inc.,
3.35%,
5/03/2026
15,000
14,848
CI
Financial
Corp.,
4.10%,
6/15/2051
50,000
37,344
Citigroup,
Inc.
3.50%,
5/15/2023
10,000
10,064
3.88%,
10/25/2023
50,000
50,695
1.68%,
5/15/2024
108,000
106,441
4.04%,
6/01/2024
10,000
10,055
3.35%,
4/24/2025
22,000
21,681
5.50%,
9/13/2025
75,000
78,246
3.29%,
3/17/2026
100,000
97,571
3.11%,
4/08/2026
15,000
14,537
4.45%,
9/29/2027
25,000
24,855
6.63%,
1/15/2028
125,000
138,834
4.13%,
7/25/2028
208,000
202,330
3.98%,
3/20/2030
20,000
19,198
2.98%,
11/05/2030
23,000
20,577
4.41%,
3/31/2031
40,000
39,096
6.63%,
6/15/2032
45,000
50,638
3.06%,
1/25/2033
25,000
21,863
5.88%,
2/22/2033
40,000
42,862
3.79%,
3/17/2033
100,000
92,553
4.65%,
7/30/2045
50,000
48,668
4.75%,
5/18/2046
15,000
14,206
4.65%,
7/23/2048
30,000
29,673
CNA
Financial
Corp.,
2.05%,
8/15/2030
50,000
41,665
CNO
Financial
Group,
Inc.,
5.25%,
5/30/2029
150,000
152,627
Comerica
Bank,
4.00%,
7/27/2025
75,000
75,098
Comerica,
Inc.,
3.70%,
7/31/2023
62,000
62,406
Cooperatieve
Rabobank
UA,
3.75%,
7/21/2026
250,000
243,027
Corebridge
Financial,
Inc.
3.90%,
4/05/2032
(b)
20,000
18,798
4.40%,
4/05/2052
(b)
25,000
22,350
Corporate
Office
Properties
LP,
2.00%,
1/15/2029
50,000
41,894
Credit
Suisse
AG,
1.00%,
5/05/2023
20,000
19,638
Credit
Suisse
Group
AG
3.80%,
6/09/2023
75,000
75,272
4.88%,
5/15/2045
50,000
46,703
Crown
Castle
International
Corp.
4.45%,
2/15/2026
25,000
25,213
2.90%,
4/01/2041
60,000
44,843
5.20%,
2/15/2049
15,000
15,045
4.00%,
11/15/2049
150,000
125,806
4.15%,
7/01/2050
15,000
13,000
Deutsche
Bank
AG
3.70%,
5/30/2024
50,000
50,090
66
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
4.10%,
1/13/2026
25,000
24,746
4.10%,
1/13/2026
15,000
14,863
Digital
Realty
Trust
LP
4.45%,
7/15/2028
(a)
25,000
25,027
3.60%,
7/01/2029
34,000
32,002
Discover
Financial
Services,
4.10%,
2/09/2027
40,000
39,576
Duke
Realty
LP,
1.75%,
2/01/2031
10,000
8,224
EPR
Properties,
4.50%,
6/01/2027
50,000
47,800
Equinix,
Inc.
2.63%,
11/18/2024
22,000
21,405
2.90%,
11/18/2026
20,000
18,894
3.90%,
4/15/2032
50,000
46,966
3.00%,
7/15/2050
50,000
35,816
2.95%,
9/15/2051
50,000
35,197
ERP
Operating
LP
3.38%,
6/01/2025
25,000
24,755
3.00%,
7/01/2029
20,000
18,719
4.00%,
8/01/2047
100,000
93,091
Essex
Portfolio
LP,
2.65%,
9/01/2050
50,000
34,165
Fidelity
National
Financial,
Inc.,
3.40%,
6/15/2030
135,000
122,530
Fifth
Third
Bancorp
3.65%,
1/25/2024
25,000
25,072
2.38%,
1/28/2025
50,000
48,262
2.55%,
5/05/2027
40,000
37,379
First-Citizens
Bank
&
Trust
Co.,
2.97%,
9/27/2025
25,000
24,468
FS
KKR
Capital
Corp.
4.63%,
7/15/2024
25,000
25,000
4.13%,
2/01/2025
10,000
9,834
GLP
Capital
LP
/
GLP
Financing
II,
Inc.
5.25%,
6/01/2025
20,000
20,344
5.38%,
4/15/2026
40,000
40,786
5.75%,
6/01/2028
100,000
104,948
5.30%,
1/15/2029
50,000
50,243
4.00%,
1/15/2030
100,000
92,645
Goldman
Sachs
BDC,
Inc.,
3.75%,
2/10/2025
100,000
99,094
Goldman
Sachs
Group,
Inc.
(The)
4.00%,
3/03/2024
25,000
25,233
3.00%,
3/15/2024
100,000
99,234
3.50%,
4/01/2025
15,000
14,820
4.25%,
10/21/2025
203,000
203,644
3.50%,
11/16/2026
300,000
292,993
1.09%,
12/09/2026
10,000
8,951
5.95%,
1/15/2027
100,000
106,176
3.85%,
1/26/2027
325,000
318,018
1.43%,
3/09/2027
10,000
8,943
1.54%,
9/10/2027
10,000
8,832
1.95%,
10/21/2027
50,000
44,895
2.64%,
2/24/2028
30,000
27,612
4.22%,
5/01/2029
20,000
19,565
2.60%,
2/07/2030
50,000
43,418
2.62%,
4/22/2032
25,000
21,167
Series
D,
2.38%,
7/21/2032
20,000
16,566
2.65%,
10/21/2032
20,000
16,884
3.10%,
2/24/2033
35,000
30,595
6.75%,
10/01/2037
30,000
34,455
4.41%,
4/23/2039
25,000
23,892
3.21%,
4/22/2042
30,000
24,177
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
2.91%,
7/21/2042
5,000
3,869
3.44%,
2/24/2043
20,000
16,535
Golub
Capital
BDC,
Inc.
3.38%,
4/15/2024
45,000
44,273
2.05%,
2/15/2027
100,000
86,013
Healthcare
Trust
of
America
Holdings
LP,
3.50%,
8/01/2026
5,000
4,898
HSBC
Holdings
PLC
0.98%,
5/24/2025
200,000
187,846
3.00%,
3/10/2026
200,000
192,796
2.10%,
6/04/2026
50,000
46,725
6.80%,
6/01/2038
162,000
182,598
ING
Groep
NV,
4.25%,
3/28/2033
100,000
95,707
Intercontinental
Exchange,
Inc.
3.75%,
12/01/2025
50,000
50,191
3.10%,
9/15/2027
15,000
14,474
2.65%,
9/15/2040
30,000
23,071
4.25%,
9/21/2048
10,000
9,598
3.00%,
9/15/2060
25,000
18,046
Jefferies
Group
LLC,
6.25%,
1/15/2036
50,000
54,235
JPMorgan
Chase
&
Co.
3.63%,
5/13/2024
20,000
20,166
3.88%,
9/10/2024
50,000
50,251
0.65%,
9/16/2024
50,000
48,358
4.02%,
12/05/2024
100,000
100,451
0.56%,
2/16/2025
20,000
18,951
2.08%,
4/22/2026
15,000
14,117
3.20%,
6/15/2026
45,000
43,929
7.63%,
10/15/2026
50,000
57,035
4.13%,
12/15/2026
50,000
49,731
1.04%,
2/04/2027
25,000
22,264
1.58%,
4/22/2027
50,000
45,216
8.00%,
4/29/2027
300,000
348,601
4.25%,
10/01/2027
25,000
24,854
4.45%,
12/05/2029
50,000
49,695
2.74%,
10/15/2030
35,000
31,068
4.49%,
3/24/2031
30,000
29,897
1.76%,
11/19/2031
25,000
20,176
2.96%,
1/25/2033
30,000
26,432
6.40%,
5/15/2038
25,000
29,648
5.50%,
10/15/2040
85,000
92,433
3.11%,
4/22/2041
35,000
28,223
2.53%,
11/19/2041
50,000
37,125
5.40%,
1/06/2042
225,000
242,030
4.26%,
2/22/2048
150,000
140,609
3.96%,
11/15/2048
75,000
66,923
3.11%,
4/22/2051
50,000
38,549
3.33%,
4/22/2052
90,000
71,891
KeyCorp
2.25%,
4/06/2027
40,000
36,916
4.10%,
4/30/2028
50,000
49,538
Kilroy
Realty
LP,
2.50%,
11/15/2032
100,000
80,912
Kimco
Realty
Corp.
3.30%,
2/01/2025
10,000
9,867
3.70%,
10/01/2049
25,000
20,853
Kite
Realty
Group
LP,
4.00%,
10/01/2026
15,000
14,730
Kreditanstalt
Fuer
Wiederaufbau
0.25%,
10/19/2023
70,000
67,647
2.63%,
2/28/2024
90,000
89,874
67
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
0.25%,
3/08/2024
150,000
143,336
0.50%,
9/20/2024
50,000
47,300
0.38%,
7/18/2025
5,000
4,606
0.63%,
1/22/2026
395,000
362,355
0.75%,
9/30/2030
50,000
41,733
Landwirtschaftliche
Rentenbank
2.00%,
1/13/2025
50,000
48,804
2.38%,
6/10/2025
40,000
39,282
Lazard
Group
LLC,
4.50%,
9/19/2028
20,000
19,831
LifeStorage
LP,
3.50%,
7/01/2026
40,000
39,367
Lincoln
National
Corp.
3.05%,
1/15/2030
25,000
22,835
4.35%,
3/01/2048
50,000
45,264
Lloyds
Banking
Group
PLC,
4.65%,
3/24/2026
200,000
199,979
Loews
Corp.,
3.20%,
5/15/2030
50,000
46,392
Main
Street
Capital
Corp.,
5.20%,
5/01/2024
50,000
50,639
Manulife
Financial
Corp.
4.15%,
3/04/2026
25,000
25,316
5.38%,
3/04/2046
100,000
113,361
Markel
Corp.,
5.00%,
4/05/2046
50,000
49,945
Marsh
&
McLennan
Cos.,
Inc.
2.25%,
11/15/2030
50,000
43,214
2.38%,
12/15/2031
(a)
50,000
43,065
4.75%,
3/15/2039
25,000
25,635
2.90%,
12/15/2051
50,000
37,772
Mastercard,
Inc.
3.30%,
3/26/2027
15,000
14,895
3.85%,
3/26/2050
10,000
9,403
Merrill
Lynch
&
Co.,
Inc.,
6.11%,
1/29/2037
50,000
55,085
MetLife,
Inc.
3.60%,
4/10/2024
42,000
42,294
6.50%,
12/15/2032
50,000
59,198
4.05%,
3/01/2045
15,000
13,918
MID-America
Apartments
LP
4.00%,
11/15/2025
25,000
25,164
1.10%,
9/15/2026
50,000
44,637
Mitsubishi
UFJ
Financial
Group,
Inc.
3.96%,
3/02/2028
100,000
97,852
3.20%,
7/18/2029
75,000
68,950
Mizuho
Financial
Group,
Inc.,
4.25%,
9/11/2029
75,000
73,658
Morgan
Stanley
Series
F,
3.88%,
4/29/2024
100,000
100,719
4.00%,
7/23/2025
25,000
25,038
5.00%,
11/24/2025
50,000
51,329
3.13%,
7/27/2026
50,000
47,928
0.99%,
12/10/2026
295,000
263,423
3.95%,
4/23/2027
50,000
49,018
1.51%,
7/20/2027
40,000
35,710
3.59%,
7/22/2028
45,000
43,136
Series
G,
3.77%,
1/24/2029
50,000
48,252
4.43%,
1/23/2030
125,000
124,175
3.62%,
4/01/2031
45,000
42,176
1.93%,
4/28/2032
75,000
60,551
2.24%,
7/21/2032
15,000
12,419
2.51%,
10/20/2032
15,000
12,633
2.94%,
1/21/2033
25,000
21,817
4.46%,
4/22/2039
160,000
157,362
6.38%,
7/24/2042
100,000
120,530
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
4.38%,
1/22/2047
25,000
23,932
NASDAQ,
Inc.,
2.50%,
12/21/2040
20,000
14,528
National
Health
Investors,
Inc.,
3.00%,
2/01/2031
50,000
40,404
NatWest
Group
PLC,
5.08%,
1/27/2030
50,000
50,800
New
York
Community
Bancorp,
Inc.,
5.90%,
11/06/2028
200,000
207,050
Northern
Trust
Corp.
3.15%,
5/03/2029
25,000
23,989
3.38%,
5/08/2032
50,000
48,379
Oesterreichische
Kontrollbank
AG,
3.13%,
11/07/2023
50,000
50,321
Office
Properties
Income
Trust
4.25%,
5/15/2024
35,000
34,959
4.50%,
2/01/2025
10,000
9,914
2.65%,
6/15/2026
50,000
45,041
OMEGA
Healthcare
Investors,
Inc.
4.50%,
4/01/2027
15,000
14,634
3.63%,
10/01/2029
75,000
66,621
3.25%,
4/15/2033
50,000
39,805
Owl
Rock
Capital
Corp.
3.75%,
7/22/2025
10,000
9,594
2.88%,
6/11/2028
50,000
42,597
Owl
Rock
Capital
Corp.
III,
3.13%,
4/13/2027
(b)
50,000
43,320
Owl
Rock
Technology
Finance
Corp.,
2.50%,
1/15/2027
50,000
43,980
Physicians
Realty
LP,
3.95%,
1/15/2028
25,000
24,381
PNC
Bank
NA,
2.70%,
10/22/2029
75,000
67,532
PNC
Financial
Services
Group,
Inc.
(The)
2.20%,
11/01/2024
35,000
34,158
2.60%,
7/23/2026
30,000
28,811
Principal
Financial
Group,
Inc.
3.10%,
11/15/2026
44,000
42,356
4.35%,
5/15/2043
90,000
84,860
Progressive
Corp.
(The),
4.00%,
3/01/2029
10,000
10,044
ProLogis
LP,
3.25%,
10/01/2026
49,000
48,119
Prospect
Capital
Corp.,
3.36%,
11/15/2026
40,000
35,875
Prudential
Financial,
Inc.
5.38%,
5/15/2045
50,000
49,734
3.94%,
12/07/2049
10,000
9,085
4.35%,
2/25/2050
15,000
14,533
Raymond
James
Financial,
Inc.
4.65%,
4/01/2030
20,000
20,239
4.95%,
7/15/2046
88,000
90,969
Realty
Income
Corp.,
4.65%,
3/15/2047
50,000
50,948
Regency
Centers
LP,
3.70%,
6/15/2030
10,000
9,376
Renaissancere
Holdings
Ltd.,
3.60%,
4/15/2029
100,000
95,953
Retail
Properties
of
America,
Inc.,
4.75%,
9/15/2030
10,000
9,876
Rexford
Industrial
Realty
LP,
2.15%,
9/01/2031
50,000
40,966
Royal
Bank
of
Canada
3.70%,
10/05/2023
50,000
50,548
0.43%,
1/19/2024
38,000
36,426
1.15%,
6/10/2025
50,000
46,241
1.20%,
4/27/2026
50,000
45,147
Sabra
Health
Care
LP
5.13%,
8/15/2026
50,000
50,087
3.90%,
10/15/2029
125,000
115,030
3.20%,
12/01/2031
(a)
50,000
42,150
68
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
Safehold
Operating
Partnership
LP,
2.80%,
6/15/2031
60,000
50,389
Santander
Holdings
USA,
Inc.,
3.24%,
10/05/2026
75,000
71,540
Santander
UK
Group
Holdings
PLC
1.09%,
3/15/2025
20,000
18,888
1.67%,
6/14/2027
50,000
44,453
2.90%,
3/15/2032
125,000
106,768
Santander
UK
PLC,
2.88%,
6/18/2024
150,000
147,961
Signature
Bank,
4.00%,
10/15/2030
150,000
147,328
Simon
Property
Group
LP,
4.75%,
3/15/2042
20,000
19,739
Sixth
Street
Specialty
Lending,
Inc.,
2.50%,
8/01/2026
(a)
50,000
45,292
Spirit
Realty
LP
4.45%,
9/15/2026
25,000
25,205
4.00%,
7/15/2029
15,000
14,081
3.20%,
2/15/2031
10,000
8,852
State
Street
Corp.
3.70%,
11/20/2023
40,000
40,443
3.55%,
8/18/2025
100,000
100,189
2.90%,
3/30/2026
200,000
195,907
3.15%,
3/30/2031
40,000
37,503
Stewart
Information
Services
Corp.,
3.60%,
11/15/2031
175,000
149,093
Store
Capital
Corp.,
4.63%,
3/15/2029
35,000
34,942
Sumitomo
Mitsui
Financial
Group,
Inc.
2.63%,
7/14/2026
45,000
42,536
3.45%,
1/11/2027
40,000
38,756
2.14%,
9/23/2030
45,000
36,926
1.71%,
1/12/2031
165,000
131,938
SunTrust
Bank,
3.30%,
5/15/2026
200,000
196,299
SVB
Financial
Group
3.13%,
6/05/2030
50,000
44,912
1.80%,
2/02/2031
50,000
40,073
Synchrony
Financial
4.25%,
8/15/2024
10,000
9,992
3.70%,
8/04/2026
90,000
86,707
5.15%,
3/19/2029
125,000
124,569
Tanger
Properties
LP,
2.75%,
9/01/2031
50,000
40,766
Toronto-Dominion
Bank
(The)
0.45%,
9/11/2023
40,000
38,729
3.25%,
3/11/2024
40,000
40,028
2.65%,
6/12/2024
197,000
194,726
1.25%,
12/13/2024
(a)
75,000
71,172
3.20%,
3/10/2032
100,000
91,269
Travelers
Property
Casualty
Corp.,
6.38%,
3/15/2033
15,000
18,037
Truist
Financial
Corp.
3.75%,
12/06/2023
111,000
112,124
2.50%,
8/01/2024
30,000
29,448
3.88%,
3/19/2029
20,000
19,436
UDR,
Inc.
2.95%,
9/01/2026
40,000
38,342
3.00%,
8/15/2031
50,000
44,541
Unum
Group
4.00%,
3/15/2024
22,000
22,146
5.75%,
8/15/2042
50,000
49,377
4.50%,
12/15/2049
10,000
8,225
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Financial
–
8.2%
(continued)
US
Bancorp
2.40%,
7/30/2024
75,000
73,635
3.60%,
9/11/2024
10,000
10,053
1.45%,
5/12/2025
35,000
33,014
Series
V,
2.38%,
7/22/2026
45,000
42,874
Series
D,
3.00%,
7/30/2029
25,000
23,241
1.38%,
7/22/2030
50,000
40,912
US
Bank
NA,
3.40%,
7/24/2023
75,000
75,646
Ventas
Realty
LP
3.85%,
4/01/2027
40,000
39,629
3.00%,
1/15/2030
15,000
13,436
4.38%,
2/01/2045
15,000
13,697
4.88%,
4/15/2049
10,000
9,844
Visa,
Inc.
3.15%,
12/14/2025
25,000
24,843
1.90%,
4/15/2027
25,000
23,266
2.70%,
4/15/2040
25,000
20,503
2.00%,
8/15/2050
55,000
37,272
W.P.
Carey,
Inc.,
4.25%,
10/01/2026
35,000
35,292
Wachovia
Corp.,
5.50%,
8/01/2035
35,000
36,462
Wells
Fargo
&
Co.
4.13%,
8/15/2023
16,000
16,187
4.48%,
1/16/2024
50,000
50,940
3.75%,
1/24/2024
241,000
242,903
3.55%,
9/29/2025
25,000
24,837
2.41%,
10/30/2025
50,000
48,071
2.19%,
4/30/2026
15,000
14,171
3.00%,
10/23/2026
10,000
9,553
3.20%,
6/17/2027
45,000
43,093
Series
G,
4.30%,
7/22/2027
100,000
99,796
3.58%,
5/22/2028
150,000
144,010
4.15%,
1/24/2029
20,000
19,703
Series
B,
7.95%,
11/15/2029
15,000
18,412
2.88%,
10/30/2030
90,000
80,766
3.07%,
4/30/2041
30,000
24,265
5.38%,
11/02/2043
60,000
62,604
5.61%,
1/15/2044
50,000
53,368
4.65%,
11/04/2044
50,000
47,696
4.75%,
12/07/2046
20,000
19,546
5.01%,
4/04/2051
25,000
26,006
Welltower,
Inc.
3.63%,
3/15/2024
10,000
10,001
2.75%,
1/15/2031
100,000
88,077
Western
Alliance
Bancorp,
3.00%,
6/15/2031
250,000
233,571
Western
Union
Co.
(The)
2.85%,
1/10/2025
65,000
63,085
1.35%,
3/15/2026
50,000
45,290
2.75%,
3/15/2031
25,000
21,298
Westpac
Banking
Corp.
3.30%,
2/26/2024
40,000
40,194
2.89%,
2/04/2030
25,000
23,891
4.11%,
7/24/2034
50,000
47,158
2.67%,
11/15/2035
45,000
36,920
3.02%,
11/18/2036
50,000
41,541
2.96%,
11/16/2040
41,000
31,346
Weyerhaeuser
Co.,
4.00%,
4/15/2030
15,000
14,454
Willis
North
America,
Inc.,
5.05%,
9/15/2048
60,000
59,787
Xlit
Ltd.,
5.25%,
12/15/2043
25,000
27,970
24,434,210
69
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Industrial
–
2.0%
3M
Co.
2.88%,
10/15/2027
75,000
72,382
3.25%,
8/26/2049
10,000
8,424
Agilent
Technologies,
Inc.,
2.75%,
9/15/2029
50,000
44,881
Amcor
Finance
USA,
Inc.,
3.63%,
4/28/2026
25,000
24,687
Amphenol
Corp.,
2.80%,
2/15/2030
20,000
17,916
Berry
Global,
Inc.,
1.65%,
1/15/2027
25,000
22,210
Boeing
Co.
(The)
1.95%,
2/01/2024
60,000
58,412
4.88%,
5/01/2025
10,000
10,122
2.20%,
2/04/2026
25,000
22,840
3.25%,
2/01/2028
134,000
124,024
2.95%,
2/01/2030
10,000
8,708
5.15%,
5/01/2030
10,000
9,959
6.13%,
2/15/2033
105,000
111,586
3.60%,
5/01/2034
25,000
21,247
3.25%,
2/01/2035
45,000
36,133
6.63%,
2/15/2038
25,000
27,561
3.85%,
11/01/2048
50,000
38,761
5.81%,
5/01/2050
35,000
35,020
3.83%,
3/01/2059
45,000
32,564
5.93%,
5/01/2060
25,000
24,840
Burlington
Northern
Santa
Fe
LLC
3.85%,
9/01/2023
50,000
50,549
7.00%,
12/15/2025
20,000
22,304
4.90%,
4/01/2044
15,000
15,605
4.55%,
9/01/2044
27,000
26,955
Canadian
National
Railway
Co.
3.20%,
8/02/2046
50,000
41,750
4.45%,
1/20/2049
100,000
100,806
2.45%,
5/01/2050
100,000
71,469
Carrier
Global
Corp.
2.72%,
2/15/2030
25,000
22,092
3.38%,
4/05/2040
20,000
16,497
3.58%,
4/05/2050
62,000
49,682
Caterpillar
Financial
Services
Corp.
3.30%,
6/09/2024
10,000
10,043
1.45%,
5/15/2025
20,000
18,929
CSX
Corp.
3.35%,
11/01/2025
25,000
24,760
4.75%,
11/15/2048
13,000
13,095
3.80%,
4/15/2050
15,000
13,260
2.50%,
5/15/2051
10,000
6,995
4.25%,
11/01/2066
50,000
44,921
Deere
&
Co.
2.75%,
4/15/2025
10,000
9,829
3.90%,
6/09/2042
25,000
24,177
Eaton
Corp.,
4.15%,
11/02/2042
55,000
51,938
Emerson
Electric
Co.,
1.95%,
10/15/2030
75,000
64,527
FedEx
Corp.
4.25%,
5/15/2030
10,000
9,898
3.88%,
8/01/2042
75,000
64,617
4.75%,
11/15/2045
15,000
14,267
4.55%,
4/01/2046
30,000
27,763
4.40%,
1/15/2047
10,000
9,106
5.25%,
5/15/2050
(a)
25,000
25,609
Flex
Ltd.
4.88%,
6/15/2029
(a)
100,000
99,770
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Industrial
–
2.0%
(continued)
4.88%,
5/12/2030
75,000
74,173
GATX
Corp.
4.70%,
4/01/2029
30,000
30,526
3.10%,
6/01/2051
50,000
36,206
GE
Capital
International
Funding
Co.
Unlimited
Co.,
4.42%,
11/15/2035
200,000
195,463
General
Dynamics
Corp.
3.25%,
4/01/2025
50,000
49,864
3.50%,
4/01/2027
40,000
39,652
4.25%,
4/01/2040
10,000
9,881
Honeywell
International,
Inc.
2.30%,
8/15/2024
25,000
24,642
1.75%,
9/01/2031
50,000
42,144
3.81%,
11/21/2047
70,000
66,073
Huntington
Ingalls
Industries,
Inc.,
3.84%,
5/01/2025
75,000
75,004
IDEX
Corp.,
2.63%,
6/15/2031
25,000
21,509
Illinois
Tool
Works,
Inc.,
2.65%,
11/15/2026
35,000
33,845
Jabil,
Inc.
4.25%,
5/15/2027
50,000
49,564
3.95%,
1/12/2028
(a)
10,000
9,739
John
Deere
Capital
Corp.
3.45%,
6/07/2023
100,000
100,731
3.45%,
1/10/2024
10,000
10,084
2.13%,
3/07/2025
300,000
291,385
2.35%,
3/08/2027
5,000
4,727
2.45%,
1/09/2030
20,000
18,230
Kansas
City
Southern
2.88%,
11/15/2029
43,000
39,164
4.30%,
5/15/2043
40,000
36,145
Keysight
Technologies,
Inc.,
3.00%,
10/30/2029
60,000
54,219
Kirby
Corp.,
4.20%,
3/01/2028
65,000
62,140
L3harris
Technologies,
Inc.
3.83%,
4/27/2025
50,000
50,053
4.40%,
6/15/2028
100,000
100,100
1.80%,
1/15/2031
50,000
40,959
Lennox
International,
Inc.,
1.35%,
8/01/2025
50,000
46,261
Lockheed
Martin
Corp.
3.55%,
1/15/2026
25,000
25,196
3.80%,
3/01/2045
140,000
129,442
Mohawk
Industries,
Inc.,
3.63%,
5/15/2030
10,000
9,306
Norfolk
Southern
Corp.
4.15%,
2/28/2048
50,000
46,263
2.90%,
8/25/2051
100,000
74,779
Northrop
Grumman
Corp.
5.05%,
11/15/2040
20,000
20,804
4.75%,
6/01/2043
35,000
35,388
Nvent
Finance
Sarl,
2.75%,
11/15/2031
100,000
85,218
Oshkosh
Corp.,
3.10%,
3/01/2030
50,000
44,059
Otis
Worldwide
Corp.
2.29%,
4/05/2027
40,000
36,930
3.36%,
2/15/2050
25,000
19,627
Packaging
Corp.
of
America,
3.40%,
12/15/2027
45,000
43,691
Parker-Hannifin
Corp.
2.70%,
6/14/2024
100,000
98,335
3.25%,
6/14/2029
25,000
23,346
4.10%,
3/01/2047
120,000
108,450
70
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Industrial
–
2.0%
(continued)
Raytheon
Technologies
Corp.
3.70%,
12/15/2023
55,000
55,502
3.20%,
3/15/2024
5,000
5,008
7.20%,
8/15/2027
25,000
28,848
2.38%,
3/15/2032
50,000
42,823
4.80%,
12/15/2043
31,000
31,447
4.63%,
11/16/2048
25,000
25,211
3.13%,
7/01/2050
25,000
19,816
3.03%,
3/15/2052
50,000
38,572
Republic
Services,
Inc.
0.88%,
11/15/2025
20,000
18,104
2.30%,
3/01/2030
50,000
43,524
1.75%,
2/15/2032
20,000
16,059
Rockwell
Automation,
Inc.,
2.80%,
8/15/2061
150,000
104,686
Ryder
System,
Inc.,
2.50%,
9/01/2024
50,000
48,689
Snap-On,
Inc.,
3.10%,
5/01/2050
25,000
20,076
Textron,
Inc.
4.30%,
3/01/2024
25,000
25,304
4.00%,
3/15/2026
25,000
25,062
Trane
Technologies
Global
Holding
Co.
Ltd.,
4.30%,
2/21/2048
60,000
55,467
Tyco
Electronics
Group
SA,
3.13%,
8/15/2027
35,000
33,824
Union
Pacific
Corp.
3.00%,
4/15/2027
100,000
96,741
3.55%,
8/15/2039
50,000
44,966
4.05%,
3/01/2046
75,000
69,925
4.50%,
9/10/2048
10,000
9,894
4.10%,
9/15/2067
15,000
13,395
3.80%,
4/06/2071
50,000
42,187
3.85%,
2/14/2072
15,000
12,800
United
Parcel
Service,
Inc.
3.90%,
4/01/2025
50,000
50,629
3.05%,
11/15/2027
(a)
25,000
24,310
5.30%,
4/01/2050
20,000
22,675
Vontier
Corp.
1.80%,
4/01/2026
50,000
44,418
2.40%,
4/01/2028
75,000
64,213
2.95%,
4/01/2031
100,000
83,650
Waste
Management,
Inc.
2.40%,
5/15/2023
(a)
85,000
85,036
3.13%,
3/01/2025
75,000
74,627
4.10%,
3/01/2045
25,000
23,200
4.15%,
7/15/2049
15,000
14,426
2.50%,
11/15/2050
20,000
14,293
Westinghouse
Air
Brake
Technologies
Corp.
4.40%,
3/15/2024
75,000
75,750
3.20%,
6/15/2025
100,000
96,984
3.45%,
11/15/2026
135,000
129,879
4.95%,
9/15/2028
100,000
100,471
WRKCo,
Inc.,
4.65%,
3/15/2026
25,000
25,565
5,974,863
Technology
–
1.6%
Activision
Blizzard,
Inc.,
3.40%,
9/15/2026
10,000
9,935
Adobe,
Inc.,
2.15%,
2/01/2027
40,000
37,701
Amdocs
Ltd.,
2.54%,
6/15/2030
65,000
55,948
Analog
Devices,
Inc.,
2.95%,
4/01/2025
10,000
9,875
Apple,
Inc.
2.40%,
5/03/2023
96,000
96,147
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Technology
–
1.6%
(continued)
3.00%,
2/09/2024
9,000
9,035
1.80%,
9/11/2024
10,000
9,756
1.13%,
5/11/2025
15,000
14,148
3.20%,
5/13/2025
100,000
100,257
0.55%,
8/20/2025
(a)
10,000
9,197
0.70%,
2/08/2026
10,000
9,133
3.25%,
2/23/2026
50,000
49,914
3.35%,
2/09/2027
200,000
199,203
1.25%,
8/20/2030
10,000
8,255
1.65%,
2/08/2031
60,000
50,778
2.38%,
2/08/2041
60,000
46,804
3.85%,
5/04/2043
25,000
23,699
4.65%,
2/23/2046
25,000
26,423
2.55%,
8/20/2060
50,000
35,227
2.80%,
2/08/2061
10,000
7,342
Applied
Materials,
Inc.
1.75%,
6/01/2030
30,000
25,692
5.10%,
10/01/2035
30,000
32,518
AutoDesk,
Inc.,
2.85%,
1/15/2030
91,000
81,431
Broadcom
Corp.
/
Broadcom
Cayman
Finance
Ltd.,
3.63%,
1/15/2024
10,000
10,054
Broadcom,
Inc.
4.00%,
4/15/2029
(b)
50,000
47,748
2.45%,
2/15/2031
(b)
55,000
45,390
4.15%,
4/15/2032
(b)
50,000
46,420
4.93%,
5/15/2037
(b)
50,000
46,736
3.50%,
2/15/2041
(b)
5,000
3,897
3.75%,
2/15/2051
(b)
5,000
3,847
Broadridge
Financial
Solutions,
Inc.,
3.40%,
6/27/2026
10,000
9,803
CDW
LLC
/
CDW
Finance
Corp.
4.13%,
5/01/2025
100,000
98,488
2.67%,
12/01/2026
50,000
45,978
3.28%,
12/01/2028
100,000
90,250
Citrix
Systems,
Inc.
1.25%,
3/01/2026
20,000
19,591
3.30%,
3/01/2030
100,000
98,730
Dell
International
LLC
/
EMC
Corp.
4.00%,
7/15/2024
10,000
10,066
4.90%,
10/01/2026
50,000
51,001
3.45%,
12/15/2051
(b)
110,000
77,831
DXC
Technology
Co.,
2.38%,
9/15/2028
30,000
26,104
Electronic
Arts,
Inc.,
1.85%,
2/15/2031
25,000
20,742
Fiserv,
Inc.,
2.75%,
7/01/2024
25,000
24,581
Fortinet,
Inc.,
1.00%,
3/15/2026
50,000
44,527
Hewlett
Packard
Enterprise
Co.
1.45%,
4/01/2024
10,000
9,631
6.20%,
10/15/2035
50,000
54,640
6.35%,
10/15/2045
20,000
21,158
HP,
Inc.
3.00%,
6/17/2027
100,000
93,931
6.00%,
9/15/2041
35,000
36,576
Intel
Corp.
3.15%,
5/11/2027
(a)
30,000
29,486
2.45%,
11/15/2029
30,000
27,122
4.10%,
5/11/2047
40,000
37,442
4.75%,
3/25/2050
150,000
155,600
3.10%,
2/15/2060
10,000
7,418
71
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Technology
–
1.6%
(continued)
International
Business
Machines
Corp.
3.30%,
1/27/2027
100,000
98,590
1.70%,
5/15/2027
50,000
45,396
4.15%,
5/15/2039
100,000
94,923
2.85%,
5/15/2040
250,000
198,514
4.00%,
6/20/2042
25,000
22,879
Intuit,
Inc.,
1.65%,
7/15/2030
69,000
57,617
KLA
Corp.,
5.00%,
3/15/2049
50,000
53,932
LAM
Research
Corp.,
3.13%,
6/15/2060
50,000
38,839
Micron
Technology,
Inc.,
4.66%,
2/15/2030
25,000
24,706
Microsoft
Corp.
3.63%,
12/15/2023
50,000
50,684
2.88%,
2/06/2024
30,000
30,073
2.40%,
8/08/2026
25,000
24,186
4.50%,
10/01/2040
75,000
79,743
4.25%,
2/06/2047
40,000
41,421
2.53%,
6/01/2050
25,000
18,862
2.92%,
3/17/2052
170,000
138,428
3.04%,
3/17/2062
81,000
64,696
NetApp,
Inc.,
1.88%,
6/22/2025
10,000
9,431
NVIDIA
Corp.
3.50%,
4/01/2040
20,000
18,108
3.50%,
4/01/2050
40,000
35,292
Oracle
Corp.
1.65%,
3/25/2026
50,000
45,231
2.65%,
7/15/2026
50,000
46,727
2.95%,
4/01/2030
22,000
19,062
2.88%,
3/25/2031
10,000
8,482
4.30%,
7/08/2034
100,000
90,536
4.00%,
11/15/2047
30,000
23,180
3.60%,
4/01/2050
85,000
61,026
3.95%,
3/25/2051
50,000
38,024
4.38%,
5/15/2055
25,000
19,631
3.85%,
4/01/2060
125,000
87,874
4.10%,
3/25/2061
10,000
7,410
Qualcomm,
Inc.,
4.80%,
5/20/2045
87,000
90,667
Roper
Technologies,
Inc.,
1.00%,
9/15/2025
20,000
18,291
Servicenow,
Inc.,
1.40%,
9/01/2030
150,000
120,442
Teledyne
FLIR
LLC,
2.50%,
8/01/2030
25,000
21,322
Texas
Instruments,
Inc.
1.13%,
9/15/2026
50,000
45,655
2.25%,
9/04/2029
13,000
11,773
1.90%,
9/15/2031
50,000
42,725
TSMC
Arizona
Corp.
3.88%,
4/22/2027
200,000
199,265
3.13%,
10/25/2041
50,000
42,190
VMware,
Inc.
4.50%,
5/15/2025
25,000
25,348
1.40%,
8/15/2026
50,000
44,809
Western
Digital
Corp.,
4.75%,
2/15/2026
100,000
99,356
Xilinx,
Inc.
2.95%,
6/01/2024
35,000
34,765
2.38%,
6/01/2030
35,000
30,873
4,664,190
Utilities
–
2.0%
AEP
Texas,
Inc.,
Series
I,
2.10%,
7/01/2030
115,000
97,206
AEP
Transmission
Co.
LLC,
3.80%,
6/15/2049
30,000
26,574
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Utilities
–
2.0%
(continued)
AES
Corp.
(The)
1.38%,
1/15/2026
200,000
179,914
2.45%,
1/15/2031
50,000
41,445
Alabama
Power
Co.
3.75%,
3/01/2045
50,000
43,083
3.13%,
7/15/2051
15,000
11,740
Ameren
Illinois
Co.,
1.55%,
11/15/2030
10,000
8,249
American
Water
Capital
Corp.
3.75%,
9/01/2028
40,000
39,362
2.80%,
5/01/2030
25,000
22,804
6.59%,
10/15/2037
90,000
109,407
4.15%,
6/01/2049
50,000
45,784
Arizona
Public
Service
Co.
4.25%,
3/01/2049
100,000
91,481
3.35%,
5/15/2050
50,000
38,867
Atmos
Energy
Corp.
1.50%,
1/15/2031
45,000
36,567
3.38%,
9/15/2049
50,000
41,965
Berkshire
Hathaway
Energy
Co.,
4.05%,
4/15/2025
40,000
40,587
Black
Hills
Corp.
3.05%,
10/15/2029
150,000
136,557
3.88%,
10/15/2049
10,000
8,552
CenterPoint
Energy
Resources
Corp.,
4.10%,
9/01/2047
25,000
23,115
Commonwealth
Edison
Co.
3.70%,
3/01/2045
100,000
88,835
4.00%,
3/01/2048
20,000
18,601
4.00%,
3/01/2049
20,000
18,546
Consolidated
Edison
Co.
of
New
York,
Inc.
4.63%,
12/01/2054
30,000
28,886
Series
C,
4.00%,
11/15/2057
50,000
42,881
Series
C,
3.00%,
12/01/2060
20,000
14,368
Constellation
Energy
Generation
LLC,
5.75%,
10/01/2041
30,000
29,705
Delmarva
Power
&
Light
Co.,
4.15%,
5/15/2045
25,000
22,921
Dominion
Energy,
Inc.
Series
A,
1.45%,
4/15/2026
30,000
27,354
Series
B,
3.30%,
4/15/2041
25,000
20,586
Duke
Energy
Carolinas
LLC
2.85%,
3/15/2032
100,000
90,290
4.25%,
12/15/2041
30,000
28,443
3.75%,
6/01/2045
75,000
65,697
3.88%,
3/15/2046
75,000
68,055
3.55%,
3/15/2052
100,000
86,394
Duke
Energy
Corp.
2.65%,
9/01/2026
50,000
47,411
3.75%,
9/01/2046
20,000
16,553
4.20%,
6/15/2049
25,000
21,963
Duke
Energy
Florida
LLC,
1.75%,
6/15/2030
100,000
83,958
Duke
Energy
Indiana
LLC
Series
YYY,
3.25%,
10/01/2049
25,000
20,332
2.75%,
4/01/2050
45,000
33,300
Duke
Energy
Ohio,
Inc.,
3.70%,
6/15/2046
50,000
43,639
Duke
Energy
Progress
LLC,
3.38%,
9/01/2023
80,000
80,516
Eastern
Energy
Gas
Holdings
LLC,
Series
A,
2.50%,
11/15/2024
34,000
33,141
Edison
International,
4.13%,
3/15/2028
10,000
9,635
72
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Utilities
–
2.0%
(continued)
El
Paso
Electric
Co.,
6.00%,
5/15/2035
33,000
36,194
Emera
US
Finance
LP,
3.55%,
6/15/2026
10,000
9,758
ENEL
Americas
SA,
4.00%,
10/25/2026
50,000
49,212
ENEL
Generacion
Chile
SA,
4.25%,
4/15/2024
25,000
25,002
Entergy
Louisiana
LLC,
2.40%,
10/01/2026
35,000
32,962
Essential
Utilities,
Inc.
3.57%,
5/01/2029
50,000
47,811
3.35%,
4/15/2050
15,000
11,942
Evergy,
Inc.,
2.45%,
9/15/2024
100,000
96,851
Eversource
Energy,
Series
R,
1.65%,
8/15/2030
50,000
40,194
Florida
Power
&
Light
Co.
2.85%,
4/01/2025
75,000
73,888
3.80%,
12/15/2042
50,000
46,072
Idaho
Power
Co.,
Series
K,
4.20%,
3/01/2048
25,000
23,957
Interstate
Power
and
Light
Co.,
2.30%,
6/01/2030
15,000
13,008
ITC
Holdings
Corp.,
3.35%,
11/15/2027
50,000
48,473
Louisville
Gas
&
Electric
Co.,
4.25%,
4/01/2049
25,000
23,692
MidAmerican
Energy
Co.
3.50%,
10/15/2024
70,000
70,462
5.80%,
10/15/2036
50,000
56,799
4.25%,
7/15/2049
30,000
29,169
National
Fuel
Gas
Co.,
2.95%,
3/01/2031
200,000
170,843
National
Rural
Utilities
Cooperative
Finance
Corp.
1.00%,
6/15/2026
45,000
40,396
4.30%,
3/15/2049
15,000
14,505
NextEra
Energy
Capital
Holdings,
Inc.
1.88%,
1/15/2027
50,000
45,721
2.25%,
6/01/2030
30,000
25,713
2.44%,
1/15/2032
50,000
42,422
3.00%,
1/15/2052
50,000
37,362
NiSource,
Inc.
0.95%,
8/15/2025
15,000
13,603
5.25%,
2/15/2043
35,000
34,620
Northern
States
Power
Co.,
2.90%,
3/01/2050
20,000
15,660
Ohio
Power
Co.,
Series
R,
2.90%,
10/01/2051
25,000
18,449
Oklahoma
Gas
&
Electric
Co.
3.25%,
4/01/2030
150,000
140,796
4.15%,
4/01/2047
35,000
32,340
Oncor
Electric
Delivery
Co.
LLC,
3.10%,
9/15/2049
15,000
12,101
Pacific
Gas
&
Electric
Co.
3.85%,
11/15/2023
50,000
49,866
3.15%,
1/01/2026
10,000
9,411
2.10%,
8/01/2027
10,000
8,629
4.65%,
8/01/2028
100,000
96,103
4.55%,
7/01/2030
5,000
4,628
2.50%,
2/01/2031
50,000
39,608
4.50%,
7/01/2040
30,000
24,625
3.30%,
8/01/2040
30,000
21,867
4.20%,
6/01/2041
75,000
59,021
4.60%,
6/15/2043
100,000
80,641
4.00%,
12/01/2046
50,000
36,797
3.95%,
12/01/2047
50,000
36,508
4.95%,
7/01/2050
30,000
25,043
Pacificorp,
4.10%,
2/01/2042
35,000
31,942
PECO
Energy
Co.
3.00%,
9/15/2049
40,000
31,423
2.85%,
9/15/2051
50,000
38,498
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Utilities
–
2.0%
(continued)
Piedmont
Natural
Gas
Co.,
Inc.
2.50%,
3/15/2031
25,000
21,583
3.35%,
6/01/2050
15,000
11,918
Public
Service
Co.
of
Colorado
Series
17,
6.25%,
9/01/2037
10,000
12,031
Series
34,
3.20%,
3/01/2050
20,000
16,491
Public
Service
Co.
of
New
Hampshire,
3.60%,
7/01/2049
100,000
86,892
Public
Service
Electric
&
Gas
Co.,
3.95%,
5/01/2042
35,000
32,466
Public
Service
Enterprise
Group,
Inc.
0.80%,
8/15/2025
10,000
9,086
1.60%,
8/15/2030
60,000
48,599
Puget
Energy,
Inc.,
4.10%,
6/15/2030
75,000
71,754
Puget
Sound
Energy,
Inc.,
2.89%,
9/15/2051
25,000
18,983
San
Diego
Gas
&
Electric
Co.
2.50%,
5/15/2026
50,000
47,771
3.00%,
3/15/2032
100,000
90,163
Series
RRR,
3.75%,
6/01/2047
60,000
53,148
Series
TTT,
4.10%,
6/15/2049
10,000
9,322
Sempra
Energy,
3.80%,
2/01/2038
15,000
13,602
Southern
California
Edison
Co.
2.25%,
6/01/2030
125,000
106,783
6.00%,
1/15/2034
160,000
174,561
4.50%,
9/01/2040
75,000
69,085
Series
C,
3.60%,
2/01/2045
25,000
19,865
Series
B,
4.88%,
3/01/2049
25,000
23,912
Southern
California
Gas
Co.
3.75%,
9/15/2042
35,000
31,273
Series
VV,
4.30%,
1/15/2049
15,000
14,433
Series
WW,
3.95%,
2/15/2050
15,000
13,665
Southern
Co.
(The),
Series
A,
3.70%,
4/30/2030
10,000
9,438
Southern
Co.
Gas
Capital
Corp.
4.40%,
5/30/2047
130,000
119,350
Series
21A,
3.15%,
9/30/2051
25,000
18,734
Southern
Power
Co.,
5.25%,
7/15/2043
20,000
19,579
Southwest
Gas
Corp.
2.20%,
6/15/2030
65,000
54,137
4.15%,
6/01/2049
25,000
22,024
Southwestern
Electric
Power
Co.
Series
N,
1.65%,
3/15/2026
125,000
115,068
Series
J,
3.90%,
4/01/2045
40,000
34,091
Toledo
Edison
Co.
(The),
6.15%,
5/15/2037
25,000
28,855
Tucson
Electric
Power
Co.,
1.50%,
8/01/2030
50,000
40,562
Union
Electric
Co.
3.25%,
10/01/2049
75,000
61,928
3.90%,
4/01/2052
100,000
91,026
Virginia
Electric
&
Power
Co.
Series
A,
3.80%,
4/01/2028
50,000
49,510
Series
B,
3.80%,
9/15/2047
20,000
18,013
2.45%,
12/15/2050
10,000
7,004
WEC
Energy
Group,
Inc.,
2.20%,
12/15/2028
50,000
44,230
Wisconsin
Power
&
Light
Co.,
1.95%,9/16/2031
50,000
41,822
Xcel
Energy,
Inc.
0.50%,
10/15/2023
30,000
28,891
73
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
24.4%
(continued)
Utilities
–
2.0%
(continued)
2.60%,
12/01/2029
10,000
8,886
5,870,390
Total
Corporate
Bonds
(cost
$81,774,401)
72,288,319
Foreign
Governmental
–
1.8%
Chile
Government
International
Bond
3.24%,
2/06/2028
40,000
38,248
2.45%,
1/31/2031
20,000
17,447
3.10%,
1/22/2061
100,000
69,464
Hungary
Government
International
Bond,
5.75%,
11/22/2023
120,000
124,051
Hydro-Quebec,
Series
HH,
8.50%,
12/01/2029
25,000
33,282
Indonesia
Government
International
Bond
3.50%,
1/11/2028
50,000
48,910
4.10%,
4/24/2028
50,000
50,392
3.40%,
9/18/2029
70,000
67,445
1.85%,
3/12/2031
20,000
16,970
3.05%,
3/12/2051
20,000
15,826
Israel
Government
AID
Bond,
5.50%,
9/18/2033
40,000
48,112
Israel
Government
International
Bond,
3.88%,
7/03/2050
160,000
151,376
Korea
International
Bond,
4.13%,
6/10/2044
200,000
218,496
Mexico
Government
International
Bond
4.50%,
4/22/2029
50,000
49,484
3.25%,
4/16/2030
(a)
75,000
67,374
2.66%,
5/24/2031
50,000
41,903
4.75%,
4/27/2032
60,000
58,746
6.75%,
9/27/2034
89,000
102,011
6.05%,
1/11/2040
40,000
41,364
4.28%,
8/14/2041
100,000
83,459
4.50%,
1/31/2050
150,000
124,501
5.75%,
10/12/2110
20,000
18,042
Panama
Government
International
Bond
4.00%,
9/22/2024
50,000
50,357
3.75%,
3/16/2025
50,000
49,860
9.38%,
4/01/2029
100,000
127,261
6.70%,
1/26/2036
40,000
45,014
Peruvian
Government
International
Bond
2.39%,
1/23/2026
20,000
18,721
2.84%,
6/20/2030
20,000
17,819
2.78%,
1/23/2031
200,000
173,197
1.86%,
12/01/2032
125,000
97,072
8.75%,
11/21/2033
20,000
26,530
3.23%,
7/28/2121
100,000
63,563
Philippine
Government
International
Bond
3.00%,
2/01/2028
100,000
95,833
9.50%,
2/02/2030
117,000
156,566
1.95%,
1/06/2032
100,000
83,801
Province
of
Alberta
Canada
2.95%,
1/23/2024
50,000
50,134
3.30%,
3/15/2028
25,000
25,013
1.30%,
7/22/2030
325,000
278,993
Province
of
British
Columbia
Canada
Series
10,
1.75%,
9/27/2024
20,000
19,463
0.90%,
7/20/2026
50,000
45,598
1.30%,
1/29/2031
220,000
187,963
Province
of
Manitoba
Canada,
2.13%,
6/22/2026
310,000
297,074
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Foreign
Governmental
–
1.8%
(continued)
Province
of
Ontario
Canada
3.20%,
5/16/2024
30,000
30,181
0.63%,
1/21/2026
10,000
9,133
1.05%,
4/14/2026
15,000
13,852
2.50%,
4/27/2026
175,000
170,936
1.05%,
5/21/2027
65,000
58,509
1.13%,
10/07/2030
50,000
42,068
1.60%,
2/25/2031
130,000
113,164
Province
of
Quebec
Canada
Series
QX,
1.50%,
2/11/2025
127,000
121,976
0.60%,
7/23/2025
100,000
92,511
2.50%,
4/20/2026
20,000
19,532
2.75%,
4/12/2027
150,000
147,127
1.90%,
4/21/2031
15,000
13,409
Republic
of
Italy
Government
International
Bond
6.88%,
9/27/2023
115,000
121,020
0.88%,
5/06/2024
150,000
142,756
4.00%,
10/17/2049
20,000
17,734
3.88%,
5/06/2051
105,000
89,503
Republic
of
Poland
Government
International
Bond,
4.00%,
1/22/2024
350,000
353,744
Svensk
Exportkredit
AB
Series
G,
0.63%,
5/14/2025
200,000
186,074
5/11/2037
(c)
30,000
17,009
Uruguay
Government
International
Bond
4.38%,
10/27/2027
50,000
51,054
4.98%,
4/20/2055
142,000
146,589
Total
Foreign
Governmental
(cost
$5,920,470)
5,354,616
Municipal
Securities
–
0.3%
California
State
University,
RB,
2.72%,
11/01/2052
50,000
38,597
City
of
Los
Angeles
Department
of
Airports
Customer
Facility
Charge,
RB,
4.24%,
5/15/2048
200,000
181,536
Michigan
State
University,
RB,
4.17%,
8/15/2122
100,000
84,972
New
Jersey
Turnpike
Authority,
RB,
7.10%,
1/01/2041
20,000
26,570
North
Texas
Tollway
Authority,
RB,
6.72%,
1/01/2049
15,000
20,558
Ohio
State
University
(The),
RB,
4.80%,
6/01/2111
10,000
9,876
Port
Authority
of
New
York
&
New
Jersey,
RB,
4.96%,
8/01/2046
100,000
109,292
Regents
of
The
University
of
California
Medical
Center
Pooled,
RB,
6.58%,
5/15/2049
100,000
128,864
State
Board
of
Administration
Finance
Corp.,
RB,
1.71%,
7/01/2027
100,000
90,837
State
of
California,
GO
7.30%,
10/01/2039
50,000
65,906
7.60%,
11/01/2040
15,000
21,035
State
of
Illinois
Sales
Tax
Securitization
Corp.,
RB,
3.59%,
1/01/2043
30,000
26,685
State
of
Illinois,
GO,
5.10%,
6/01/2033
20,000
20,449
University
of
Michigan,
RB,
4.45%,
4/01/2122
100,000
94,746
University
of
Virginia,
RB,
2.58%,
11/01/2051
50,000
37,770
Total
Municipal
Securities
(cost
$1,125,727)
957,693
Supranational
Bank
–
1.6%
African
Development
Bank,
3.00%,
9/20/2023
75,000
75,408
74
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Supranational
Bank
–
1.6%
(continued)
Asian
Development
Bank
2.63%,
1/30/2024
50,000
49,951
Series
G,
1.00%,
4/14/2026
50,000
46,279
Series
G,
1.50%,
1/20/2027
50,000
46,667
2.75%,
1/19/2028
50,000
49,144
1.75%,
9/19/2029
150,000
136,954
0.75%,
10/08/2030
150,000
124,647
Asian
Infrastructure
Investment
Bank
(The)
0.25%,
9/29/2023
50,000
48,315
0.50%,
5/28/2025
125,000
115,419
European
Bank
For
Reconstruction
&
Development
0.25%,
7/10/2023
70,000
68,159
1.63%,
9/27/2024
150,000
145,680
European
Investment
Bank
Series
G,
2.88%,
8/15/2023
225,000
225,996
Series
G,
3.13%,
12/14/2023
300,000
302,225
2.63%,
3/15/2024
250,000
249,551
1.88%,
2/10/2025
50,000
48,644
0.38%,
12/15/2025
5,000
4,554
0.38%,
3/26/2026
10,000
9,037
2.38%,
5/24/2027
150,000
145,463
1.75%,
3/15/2029
(a)
100,000
92,050
1.25%,
2/14/2031
(a)
150,000
129,656
Export-Import
Bank
of
Korea,
0.63%,
6/29/2024
200,000
190,134
Inter-American
Development
Bank
2.13%,
1/15/2025
50,000
48,968
2.00%,
6/02/2026
15,000
14,412
1.50%,
1/13/2027
100,000
93,363
0.63%,
9/16/2027
50,000
43,987
1.13%,
7/20/2028
50,000
44,535
3.13%,
9/18/2028
50,000
50,151
1.13%,
1/13/2031
10,000
8,535
3.88%,
10/28/2041
150,000
159,159
Inter-American
Investment
Corp.,
2.63%,
4/22/2025
100,000
98,726
International
Bank
For
Reconstruction
&
Development
1.88%,
6/19/2023
300,000
298,129
2.25%,
3/28/2024
200,000
198,273
2.50%,
11/25/2024
20,000
19,809
0.75%,
3/11/2025
50,000
47,046
0.38%,
7/28/2025
150,000
138,087
0.50%,
10/28/2025
75,000
68,832
3.13%,
11/20/2025
75,000
75,368
0.75%,
8/26/2030
75,000
62,431
1.25%,
2/10/2031
10,000
8,614
2.50%,
3/29/2032
100,000
94,876
Japan
Bank
For
International
Cooperation
0.63%,
7/15/2025
50,000
46,207
2.25%,
11/04/2026
224,000
215,131
2.88%,
6/01/2027
200,000
196,353
2.75%,
11/16/2027
64,000
62,301
Japan
International
Cooperation
Agency,
3.38%,
6/12/2028
50,000
50,150
Korea
Development
Bank
(The)
2.13%,
10/01/2024
15,000
14,676
3.38%,
9/16/2025
200,000
200,660
2.00%,
10/25/2031
100,000
85,838
Total
Supranational
Bank
(cost
$5,023,163)
4,748,550
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
Federal
Farm
Credit
Banks
Funding
Corp.,
0.25%,
2/26/2024
50,000
47,848
Federal
Home
Loan
Banks
2.50%,
2/13/2024
(a)
385,000
383,942
2.75%,
12/13/2024
10,000
9,957
0.50%,
4/14/2025
300,000
279,909
1.00%,
3/23/2026
185,250
170,802
3.00%,
3/12/2027
300,000
300,197
3.25%,
11/16/2028
305,000
308,402
Federal
Home
Loan
Mortgage
Corporation
0.25%,
8/24/2023
(d)
54,000
52,482
0.25%,
9/08/2023
(d)
25,000
24,257
1.50%,
2/12/2025
(d)
119,000
114,570
0.38%,
7/21/2025
(a)(d)
100,000
92,256
0.38%,
9/23/2025
(a)(d)
375,000
343,874
2.50%,
9/01/2027
17,648
17,365
4.00%,
7/01/2029
14,296
14,560
6.75%,
9/15/2029
(d)
50,000
62,055
3.00%,
2/01/2031
30,673
30,453
2.50%,
12/01/2031
18,571
18,049
2.50%,
3/01/2032
107,519
104,494
6.25%,
7/15/2032
(d)
70,000
88,317
3.00%,
9/01/2032
51,483
50,653
3.00%,
1/01/2033
6,574
6,514
3.50%,
2/01/2033
88,017
88,923
3.00%,
4/01/2033
35,621
35,549
3.00%,
4/01/2033
80,478
80,004
3.00%,
7/01/2033
103,309
101,569
2.50%,
11/01/2034
30,521
29,498
3.50%,
3/01/2035
9,166
9,154
3.00%,
4/01/2035
35,033
34,548
2.50%,
5/01/2035
43,610
41,956
3.00%,
6/01/2035
94,771
94,092
3.00%,
6/01/2035
49,568
48,881
2.00%,
8/01/2035
244,441
229,844
2.50%,
9/01/2035
138,429
133,180
1.50%,
11/01/2035
129,853
119,232
2.00%,
11/01/2035
64,353
60,510
1.50%,
12/01/2035
85,544
78,547
1.50%,
2/01/2036
484,597
444,961
2.50%,
5/01/2036
76,580
73,490
2.50%,
6/01/2036
374,853
359,727
2.00%,
8/01/2036
226,331
212,504
2.50%,
8/01/2036
131,374
126,073
1.50%,
9/01/2036
46,472
42,597
1.00%,
10/01/2036
47,556
41,917
2.00%,
10/01/2036
93,291
87,591
1.50%,
11/01/2036
95,498
87,535
2.00%,
11/01/2036
47,404
44,508
1.50%,
1/01/2037
97,174
89,071
1.50%,
2/01/2037
24,492
22,450
1.50%,
2/01/2037
195,512
179,208
3.00%,
5/01/2037
24,235
23,314
3.00%,
5/01/2037
(d)
18,176
17,504
3.00%,
11/01/2039
47,518
45,758
3.00%,
3/01/2040
50,530
48,658
2.50%,
4/01/2040
7,920
7,347
2.00%,
8/01/2040
98,314
88,231
2.50%,
9/01/2040
61,110
56,683
2.50%,
10/01/2040
17,125
15,885
2.00%,
11/01/2040
19,662
17,645
75
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
Home
Loan
Mortgage
Corporation
(continued)
4.00%,
11/01/2040
60,869
61,868
1.50%,
1/01/2041
21,387
18,473
2.00%,
3/01/2041
21,709
19,475
1.50%,
5/01/2041
206,741
178,413
4.50%,
5/01/2041
(d)
117,854
122,629
2.50%,
6/01/2041
88,987
82,375
2.00%,
8/01/2041
93,720
84,072
2.00%,
12/01/2041
390,486
350,290
3.00%,
12/01/2042
(d)
18,895
18,207
3.00%,
1/01/2043
(d)
52,466
50,556
3.50%,
2/01/2043
57,335
56,885
3.00%,
4/01/2043
70,826
68,277
3.50%,
12/01/2044
(d)
50,387
49,808
4.00%,
12/01/2044
23,285
23,609
3.00%,
1/01/2045
358,619
345,240
4.00%,
2/01/2045
53,609
54,356
3.00%,
5/01/2045
10,650
10,223
3.50%,
7/01/2045
(d)
80,172
79,076
3.50%,
7/01/2045
11,978
11,804
3.50%,
10/01/2045
65,669
64,716
4.50%,
10/01/2045
77,709
80,659
4.00%,
11/01/2045
179,308
181,298
3.50%,
12/01/2045
8,359
8,238
3.50%,
8/01/2046
(d)
70,364
69,189
3.00%,
12/01/2046
173,765
166,405
3.00%,
1/01/2047
58,157
55,693
3.00%,
8/01/2047
48,283
46,238
4.00%,
8/01/2047
(d)
48,693
48,946
3.50%,
9/01/2047
20,572
20,211
4.50%,
10/01/2047
80,298
82,144
3.50%,
6/01/2048
75,876
74,402
3.50%,
7/01/2048
19,820
19,435
4.50%,
8/01/2048
91,840
93,824
4.00%,
1/01/2049
57,551
57,729
4.50%,
3/01/2049
(d)
30,582
31,275
3.50%,
5/01/2049
135,109
132,009
3.00%,
9/01/2049
40,443
38,470
3.00%,
10/01/2049
259,529
246,869
3.00%,
10/01/2049
46,430
44,165
5.00%,
10/01/2049
71,937
74,678
2.50%,
1/01/2050
38,262
35,204
4.50%,
2/01/2050
24,127
24,593
3.00%,
3/01/2050
37,654
35,817
3.00%,
4/01/2050
172,920
163,964
2.50%,
6/01/2050
77,665
71,261
2.50%,
6/01/2050
200,431
183,902
2.50%,
6/01/2050
66,954
61,433
2.50%,
7/01/2050
422,340
387,511
2.50%,
7/01/2050
186,678
171,283
2.50%,
8/01/2050
14,881
13,654
2.00%,
9/01/2050
346,272
306,946
2.50%,
9/01/2050
293,721
269,500
2.50%,
10/01/2050
138,584
127,156
2.50%,
10/01/2050
162,602
149,193
3.00%,
10/01/2050
38,778
36,769
2.00%,
12/01/2050
197,748
175,290
1.50%,
1/01/2051
337,059
285,041
1.50%,
2/01/2051
22,440
18,977
2.50%,
2/01/2051
223,278
204,865
2.50%,
3/01/2051
287,636
263,916
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
Home
Loan
Mortgage
Corporation
(continued)
2.00%,
4/01/2051
295,331
261,110
2.00%,
4/01/2051
249,556
220,639
2.00%,
5/01/2051
115,157
101,814
2.00%,
5/01/2051
548,126
484,613
2.00%,
5/01/2051
371,483
328,438
2.50%,
5/01/2051
225,702
206,344
2.50%,
5/01/2051
67,554
61,760
1.50%,
6/01/2051
261,106
220,752
3.00%,
6/01/2051
118,608
112,040
2.50%,
7/01/2051
140,345
128,308
3.00%,
7/01/2051
375,974
355,154
3.00%,
7/01/2051
374,660
353,912
1.50%,
8/01/2051
192,810
163,012
2.00%,
8/01/2051
337,099
298,038
2.50%,
8/01/2051
179,153
163,788
1.50%,
9/01/2051
336,570
284,553
2.00%,
9/01/2051
384,997
340,386
2.00%,
9/01/2051
23,809
21,050
2.00%,
9/01/2051
334,863
296,062
2.00%,
9/01/2051
536,692
474,503
2.50%,
9/01/2051
191,356
174,943
2.50%,
9/01/2051
446,548
408,248
3.50%,
9/01/2051
136,058
132,373
1.50%,
10/01/2051
194,747
164,649
2.00%,
10/01/2051
217,837
192,596
2.50%,
10/01/2051
335,812
307,010
1.50%,
11/01/2051
48,776
41,237
2.00%,
12/01/2051
147,136
130,087
2.00%,
12/01/2051
644,133
569,495
2.50%,
12/01/2051
246,724
225,563
2.00%,
3/01/2052
645,124
569,115
3.50%,
4/01/2052
99,489
96,583
3.50%,
5/01/2052
150,000
145,618
Federal
Home
Loan
Mortgage
Corporation
Mutifamily
Structured
Pass-Through
Ctfs.
Series
2014-K038,
Class
A2,
3.39%,
3/25/2024
(d)
195,000
195,319
Series
2015-KS03,
Class
A4,
3.16%,
5/25/2025
(d)
35,000
34,841
Series
2015-K051,
Class
A2,
3.31%,
9/25/2025
(d)
200,000
199,843
Series
2019-K736,
Class
A2,
2.28%,
7/25/2026
(d)
50,000
47,782
Series
2016-K058,
Class
AM,
2.72%,
8/25/2026
(d)
90,000
87,413
Series
2017-K064,
Class
A2,
3.22%,
3/25/2027
(d)
20,000
19,888
Series
2017-K069,
Class
A2,
3.19%,
9/25/2027
(d)
150,000
148,799
Series
2018-K072,
Class
A1,
3.25%,
11/25/2027
(d)
98,440
98,247
Series
2018-K072,
Class
A2,
3.44%,
12/25/2027
(d)
160,000
160,695
Series
2018-K077,
Class
A1,
3.70%,
3/25/2028
(d)
26,901
27,219
Series
2021-K743,
Class
A2,
1.77%,
5/25/2028
(d)
75,000
68,498
Series
2018-K077,
Class
A2,
3.85%,
5/25/2028
(d)
50,000
51,263
Series
2018-K081,
Class
AM,
3.90%,
8/25/2028
(d)
50,000
51,223
76
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
Home
Loan
Mortgage
Corporation
Mutifamily
Structured
Pass-Through
Ctfs.
(continued)
Series
2019-K087,
Class
A2,
3.77%,
12/25/2028
(d)
30,000
30,653
Series
2019-K089,
Class
AM,
3.63%,
1/25/2029
(d)
60,000
60,573
Series
2020-K106,
Class
A1,
1.78%,
10/25/2029
(d)
58,651
54,070
Series
2019-K101,
Class
A2,
2.52%,
10/25/2029
(d)
10,000
9,443
Series
2020-K105,
Class
A2,
1.87%,
1/25/2030
(d)
90,000
80,874
Series
2016-K152,
Class
A1,
2.83%,
5/25/2030
(d)
39,097
38,115
Series
2021-K123,
Class
A2,
1.62%,
12/25/2030
(d)
200,000
173,452
Series
2021-K126,
Class
A2,
2.07%,
1/25/2031
(d)
50,000
44,945
Series
2017-K153,
Class
A3,
3.12%,
10/25/2031
(d)
50,000
48,403
Series
K137,
Class
A2,
2.35%,
11/25/2031
(d)
200,000
181,821
Series
2019-1513,
Class
A3,
2.80%,
8/25/2034
(d)
20,000
18,060
Federal
National
Mortgage
Association
0.25%,
5/22/2023
(d)
50,000
48,975
2.88%,
9/12/2023
(d)
200,000
201,025
0.25%,
11/27/2023
(d)
75,000
72,333
1.75%,
7/02/2024
(d)
25,000
24,452
2.63%,
9/06/2024
(a)(d)
25,000
24,921
1.63%,
1/07/2025
(a)(d)
275,000
266,004
0.63%,
4/22/2025
(d)
30,000
28,076
0.38%,
8/25/2025
(d)
30,000
27,578
0.50%,
11/07/2025
(d)
171,000
157,039
1.88%,
9/24/2026
(d)
140,000
133,597
3.00%,
11/01/2026
(d)
25,908
25,782
3.00%,
12/01/2026
(d)
14,375
14,306
3.00%,
12/01/2026
(d)
50,266
50,023
3.00%,
12/01/2026
(d)
14,044
13,976
3.00%,
6/01/2027
(d)
14,158
14,139
0.75%,
10/08/2027
(a)(d)
100,000
88,741
3.00%,
2/01/2028
(d)
21,510
21,480
2.50%,
6/01/2028
(d)
47,556
46,833
3.00%,
9/01/2028
(d)
83,194
83,026
3.50%,
8/01/2030
(d)
24,596
24,698
0.88%,
8/05/2030
(a)(d)
165,000
137,706
2.00%,
10/01/2030
(d)
11,965
11,234
6.63%,
11/15/2030
(d)
75,000
94,169
2.50%,
3/01/2031
(d)
66,605
65,593
3.50%,
4/01/2031
(d)
75,135
75,828
3.00%,
8/01/2031
(d)
20,563
20,416
2.50%,
10/01/2031
(d)
124,355
122,187
2.00%,
11/01/2031
(d)
33,400
31,354
3.50%,
11/01/2031
(d)
20,504
20,556
2.50%,
1/01/2032
(d)
79,377
77,144
2.50%,
1/01/2032
(d)
15,192
14,753
3.00%,
1/01/2032
(d)
214,755
213,217
3.50%,
1/01/2032
(d)
17,248
17,272
3.00%,
2/01/2032
(d)
21,199
21,047
3.50%,
4/01/2032
(d)
19,852
20,056
3.00%,
8/01/2032
(d)
83,740
82,390
3.50%,
8/01/2032
(d)
80,071
80,892
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
National
Mortgage
Association
(continued)
3.00%,
9/01/2032
(d)
29,864
29,383
2.50%,
1/01/2033
(d)
26,949
26,479
3.00%,
2/01/2033
(d)
44,887
44,478
3.00%,
2/01/2033
(d)
141,281
139,995
3.50%,
5/01/2033
(d)
30,638
30,747
2.50%,
7/01/2033
(d)
31,493
30,607
4.00%,
4/01/2034
(d)
14,438
14,730
3.50%,
9/01/2034
(d)
24,720
24,695
4.00%,
10/01/2034
(d)
60,621
61,642
3.00%,
2/01/2035
(d)
8,744
8,616
2.50%,
3/01/2035
(d)
205,557
198,667
3.50%,
3/01/2035
(d)
10,704
10,742
4.00%,
3/01/2035
(d)
40,417
41,228
2.00%,
7/01/2035
(d)
29,069
27,333
2.50%,
7/01/2035
(d)
122,941
118,280
2.00%,
8/01/2035
(d)
57,872
54,416
2.50%,
9/01/2035
(d)
102,118
98,246
3.00%,
9/01/2035
(d)
26,913
26,540
1.50%,
10/01/2035
(d)
279,119
256,289
2.00%,
10/01/2035
(d)
17,601
16,550
2.00%,
10/01/2035
(d)
323,586
304,263
2.00%,
10/01/2035
(d)
38,691
36,380
5.50%,
10/01/2035
(d)
15,452
16,497
1.50%,
11/01/2035
(d)
18,401
16,896
2.00%,
11/01/2035
(d)
175,139
164,680
2.00%,
12/01/2035
(d)
36,606
34,420
1.50%,
4/01/2036
(d)
22,303
20,444
2.00%,
4/01/2036
(d)
44,794
42,057
2.50%,
4/01/2036
(d)
23,632
23,273
1.50%,
5/01/2036
(d)
44,688
40,961
1.50%,
5/01/2036
(d)
87,903
80,573
2.00%,
5/01/2036
(d)
85,136
79,934
2.00%,
6/01/2036
(d)
270,050
253,552
2.00%,
6/01/2036
(d)
264,398
248,245
2.00%,
7/01/2036
(d)
300,016
281,687
2.00%,
7/01/2036
(d)
68,988
64,773
2.00%,
8/01/2036
(d)
295,452
277,402
1.50%,
9/01/2036
(d)
303,804
278,470
2.00%,
9/01/2036
(d)
46,206
43,383
1.50%,
10/01/2036
(d)
48,055
44,048
1.50%,
10/01/2036
(d)
47,362
43,412
2.00%,
10/01/2036
(d)
72,673
68,233
2.00%,
10/01/2036
(d)
140,563
131,976
1.50%,
11/01/2036
(d)
71,915
65,918
2.00%,
12/01/2036
(d)
170,415
160,003
2.50%,
1/01/2037
(d)
288,276
276,644
3.50%,
1/01/2037
(d)
18,690
18,655
2.00%,
2/01/2037
(d)
244,225
229,305
2.50%,
2/01/2037
(d)
17,842
16,662
1.50%,
3/01/2037
(d)
74,123
67,899
1.50%,
5/15/2037
(d)(e)
300,000
274,543
2.00%,
5/15/2037
(e)
475,000
445,018
2.50%,
5/15/2037
(e)
50,000
47,845
1.50%,
6/15/2037
(d)(e)
50,000
45,694
2.00%,
6/15/2037
(d)(e)
25,000
23,386
3.00%,
6/15/2037
(d)(e)
75,000
73,285
3.50%,
11/01/2037
(d)
100,497
99,533
3.00%,
12/01/2037
(d)
47,304
45,506
2.50%,
3/01/2038
(d)
20,951
19,566
3.00%,
5/01/2038
(d)
37,440
36,017
77
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
National
Mortgage
Association
(continued)
3.50%,
6/01/2039
(d)
71,667
71,047
4.50%,
6/01/2039
(d)
23,562
24,504
4.00%,
11/01/2039
(d)
15,905
16,024
4.50%,
2/01/2040
(d)
25,731
26,759
6.00%,
4/01/2040
(d)
36,168
39,316
2.50%,
5/01/2040
(d)
9,873
9,158
2.00%,
8/01/2040
(d)
37,261
33,440
2.50%,
8/01/2040
(d)
43,904
40,723
2.00%,
9/01/2040
(d)
63,608
57,084
4.00%,
10/01/2040
(d)
170,201
172,996
2.00%,
11/01/2040
(d)
58,350
52,366
3.00%,
12/01/2040
(d)
36,594
35,227
2.00%,
1/01/2041
(d)
135,761
121,838
2.00%,
2/01/2041
(d)
52,853
47,432
4.50%,
2/01/2041
(d)
30,329
31,531
4.50%,
4/01/2041
(d)
160,320
166,665
1.50%,
5/01/2041
(d)
45,671
39,414
2.00%,
5/01/2041
(d)
249,085
223,445
1.50%,
6/01/2041
(d)
23,103
19,938
1.50%,
7/01/2041
(d)
70,066
60,466
2.00%,
7/01/2041
207,446
186,092
5.50%,
7/01/2041
(d)
18,135
19,336
1.50%,
9/01/2041
(d)
47,866
41,307
2.50%,
10/01/2041
(d)
71,639
66,316
1.50%,
11/01/2041
(d)
24,567
21,201
2.50%,
11/01/2041
(d)
144,798
134,039
2.00%,
12/01/2041
(d)
32,240
28,921
3.50%,
12/01/2041
(d)
25,554
25,331
1.50%,
1/01/2042
(d)
49,097
42,370
2.50%,
2/01/2042
(d)
49,145
45,493
3.00%,
4/01/2042
(d)
15,366
14,794
3.50%,
4/01/2042
(d)
64,378
63,872
5.00%,
4/01/2042
(d)
43,359
46,117
4.50%,
5/01/2042
(d)
70,093
72,872
3.50%,
6/01/2042
(d)
19,665
19,511
4.00%,
7/01/2042
(d)
30,881
31,385
2.50%,
10/01/2042
(d)
66,746
62,148
3.00%,
4/01/2043
(d)
31,301
30,175
3.00%,
4/01/2043
(d)
179,965
173,489
3.50%,
6/01/2043
(d)
122,158
121,199
4.00%,
10/01/2043
(d)
257,297
261,495
5.50%,
5/01/2044
(d)
144,021
154,360
4.00%,
9/01/2044
(d)
32,859
33,317
3.00%,
10/01/2044
(d)
142,537
137,408
4.00%,
11/01/2044
(d)
30,694
31,122
4.00%,
1/01/2045
(d)
98,186
99,727
3.00%,
4/01/2045
(d)
56,252
54,228
3.50%,
4/01/2045
(d)
16,869
16,624
3.50%,
5/01/2045
(d)
21,923
21,605
3.50%,
6/01/2045
(d)
310,044
306,848
3.50%,
8/01/2045
(d)
103,928
102,421
3.50%,
11/01/2045
(d)
28,879
28,460
3.50%,
12/01/2045
(d)
214,771
211,656
3.50%,
1/01/2046
(d)
397,829
392,059
4.00%,
1/01/2046
(d)
66,225
66,960
3.50%,
2/01/2046
(d)
41,351
40,752
3.50%,
2/01/2046
(d)
52,524
51,604
4.50%,
6/01/2046
(d)
37,551
39,060
3.00%,
9/01/2046
(d)
80,789
77,367
3.50%,
9/01/2046
(d)
97,108
95,700
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
National
Mortgage
Association
(continued)
4.50%,
9/01/2046
(d)
119,298
124,027
3.00%,
10/01/2046
(d)
155,529
148,942
3.00%,
11/01/2046
(d)
57,239
54,815
3.00%,
11/01/2046
(d)
43,489
41,647
3.00%,
11/01/2046
(d)
17,561
16,818
3.00%,
11/01/2046
(d)
352,119
337,205
4.00%,
11/01/2046
(d)
135,686
136,572
3.50%,
1/01/2047
(d)
70,333
69,101
3.00%,
2/01/2047
(d)
238,268
229,694
3.50%,
2/01/2047
(d)
63,255
62,147
4.00%,
2/01/2047
(d)
230,458
233,015
3.50%,
4/01/2047
(d)
21,606
21,227
4.00%,
5/01/2047
(d)
47,276
47,484
4.50%,
5/01/2047
(d)
11,960
12,386
3.50%,
7/01/2047
(d)
181,930
180,502
3.00%,
8/01/2047
(d)
91,279
87,412
3.50%,
8/01/2047
(d)
84,614
83,128
3.50%,
10/01/2047
(d)
26,567
26,100
4.00%,
10/01/2047
(d)
75,550
75,883
3.50%,
11/01/2047
(d)
276,537
271,679
3.50%,
12/01/2047
(d)
61,006
59,934
3.50%,
2/01/2048
(d)
49,216
48,351
4.00%,
2/01/2048
(d)
60,479
60,745
3.50%,
3/01/2048
(d)
142,604
139,834
3.00%,
4/01/2048
(d)
200,308
193,100
3.50%,
4/01/2048
(d)
164,769
161,883
4.50%,
4/01/2048
(d)
14,236
14,543
4.50%,
8/01/2048
(d)
30,299
30,953
4.50%,
8/01/2048
(d)
240,161
247,144
3.00%,
9/01/2048
(d)
469,861
449,960
4.00%,
9/01/2048
(d)
93,255
93,544
3.50%,
10/01/2048
(d)
37,697
37,034
4.50%,
10/01/2048
(d)
10,468
10,694
3.00%,
11/01/2048
(d)
160,399
153,605
4.00%,
11/01/2048
(d)
38,760
38,931
4.00%,
2/01/2049
(d)
21,676
21,743
4.00%,
3/01/2049
(d)
149,987
150,452
3.50%,
4/01/2049
(d)
46,644
45,574
4.00%,
5/01/2049
(d)
63,946
64,144
4.50%,
5/01/2049
(d)
23,788
24,302
4.50%,
5/01/2049
(d)
9,904
10,095
4.00%,
6/01/2049
(d)
71,238
71,551
4.00%,
6/01/2049
(d)
181,411
182,209
3.50%,
7/01/2049
(d)
52,092
50,896
4.00%,
7/01/2049
(d)
57,505
57,406
5.00%,
7/01/2049
(d)
12,945
13,438
3.50%,
8/01/2049
(d)
238,275
232,808
3.50%,
8/01/2049
(d)
134,236
131,156
4.50%,
8/01/2049
(d)
100,768
103,085
3.50%,
9/01/2049
(d)
83,224
81,314
3.50%,
9/01/2049
(d)
42,607
41,629
4.00%,
9/01/2049
(d)
100,312
101,426
4.00%,
9/01/2049
(d)
17,732
17,701
4.50%,
9/01/2049
(d)
18,897
19,305
5.00%,
9/01/2049
(d)
80,692
83,767
3.00%,
10/01/2049
(d)
119,612
113,777
2.50%,
11/01/2049
(d)
242,101
222,756
2.50%,
11/01/2049
(d)
164,840
151,668
3.00%,
11/01/2049
(d)
162,959
155,010
3.00%,
11/01/2049
(d)
116,816
111,118
78
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
National
Mortgage
Association
(continued)
4.50%,
11/01/2049
(d)
8,844
9,015
5.00%,
11/01/2049
(d)
94,253
98,398
3.00%,
12/01/2049
(d)
73,338
69,760
3.50%,
12/01/2049
(d)
68,628
67,053
3.50%,
1/01/2050
(d)
46,246
45,185
3.00%,
2/01/2050
(d)
59,592
56,685
3.00%,
2/01/2050
(d)
102,188
97,203
3.00%,
3/01/2050
(d)
62,498
59,261
4.50%,
3/01/2050
(d)
83,481
85,285
5.00%,
3/01/2050
(d)
126,499
131,316
2.50%,
4/01/2050
(d)
291,559
267,515
3.00%,
4/01/2050
(d)
61,209
58,039
4.00%,
4/01/2050
(d)
114,977
114,780
3.50%,
5/01/2050
(d)
119,937
116,846
3.50%,
5/01/2050
(d)
16,960
16,523
4.00%,
6/01/2050
(d)
29,501
29,451
4.00%,
6/01/2050
(d)
50,588
50,466
2.50%,
7/01/2050
(d)
97,642
89,590
3.00%,
7/01/2050
(d)
154,592
146,585
3.00%,
7/01/2050
(d)
32,871
31,169
3.00%,
7/01/2050
(d)
61,697
58,501
3.50%,
7/01/2050
(d)
28,838
28,095
4.00%,
7/01/2050
(d)
185,623
185,175
2.50%,
8/01/2050
(d)
192,446
176,576
2.50%,
8/01/2050
(d)
91,705
84,142
2.00%,
9/01/2050
(d)
342,386
303,502
2.00%,
9/01/2050
(d)
433,854
384,582
2.00%,
9/01/2050
(d)
41,810
37,062
2.00%,
9/01/2050
(d)
50,387
44,665
2.00%,
9/01/2050
(d)
430,127
381,278
2.50%,
9/01/2050
(d)
77,895
71,471
3.00%,
9/01/2050
(d)
659,097
624,958
3.00%,
9/01/2050
(d)
48,065
45,720
3.00%,
9/01/2050
(d)
215,305
204,153
2.00%,
10/01/2050
(d)
263,382
233,470
2.00%,
10/01/2050
(d)
83,820
74,301
3.00%,
10/01/2050
(d)
97,297
92,551
1.50%,
11/01/2050
(d)
110,747
93,656
2.00%,
11/01/2050
(d)
819,277
726,233
2.00%,
11/01/2050
(d)
150,724
133,607
2.50%,
11/01/2050
(d)
232,389
213,225
1.50%,
12/01/2050
(d)
90,966
76,927
2.00%,
12/01/2050
(d)
171,795
152,284
2.00%,
12/01/2050
(d)
334,215
296,258
2.00%,
12/01/2050
(d)
248,656
220,416
2.00%,
12/01/2050
(d)
131,320
116,406
2.00%,
12/01/2050
(d)
793,870
703,711
2.50%,
12/01/2050
(d)
285,670
262,112
1.50%,
1/01/2051
(d)
90,316
76,377
2.00%,
1/01/2051
(d)
515,060
456,565
2.00%,
1/01/2051
(d)
175,595
155,653
2.50%,
1/01/2051
(d)
198,937
182,531
3.00%,
1/01/2051
(d)
63,535
60,244
1.50%,
2/01/2051
(d)
90,434
76,478
2.00%,
2/01/2051
(d)
519,600
460,590
2.00%,
2/01/2051
(d)
248,925
220,655
2.50%,
2/01/2051
(d)
20,441
18,755
2.50%,
2/01/2051
(d)
477,126
437,779
2.50%,
2/01/2051
(d)
381,470
350,012
2.50%,
2/01/2051
(d)
85,401
78,076
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
National
Mortgage
Association
(continued)
2.50%,
2/01/2051
(d)
253,834
232,901
2.50%,
2/01/2051
(d)
157,796
144,783
1.50%,
3/01/2051
(d)
69,322
58,608
2.00%,
3/01/2051
(d)
176,724
156,246
2.50%,
3/01/2051
(d)
230,264
211,275
2.00%,
4/01/2051
(d)
632,785
559,462
2.00%,
4/01/2051
(d)
184,974
163,541
2.00%,
4/01/2051
(d)
138,625
122,562
2.50%,
4/01/2051
(d)
246,709
226,364
2.50%,
4/01/2051
(d)
136,897
125,156
2.00%,
5/01/2051
(d)
239,152
211,440
2.00%,
5/01/2051
(d)
345,037
305,056
2.50%,
5/01/2051
(d)
728,759
666,255
2.50%,
5/01/2051
(d)
194,473
178,436
3.00%,
5/01/2051
(d)
124,197
117,320
1.50%,
6/01/2051
(d)
190,799
161,311
1.50%,
6/01/2051
(d)
23,620
19,969
3.00%,
6/01/2051
(d)
166,549
157,326
3.00%,
6/15/2051
(d)(e)
75,000
70,526
2.00%,
7/01/2051
(d)
279,038
246,705
2.00%,
7/01/2051
(d)
539,845
477,292
2.50%,
7/01/2051
(d)
293,991
268,776
2.50%,
7/01/2051
(d)
94,206
86,126
1.50%,
8/01/2051
(d)
96,423
81,521
2.00%,
8/01/2051
(d)
332,855
294,286
2.00%,
8/01/2051
(d)
667,716
590,345
2.00%,
8/01/2051
(d)
275,307
243,406
2.50%,
8/01/2051
(d)
478,653
437,599
2.50%,
8/01/2051
(d)
321,375
293,811
1.50%,
9/01/2051
(d)
120,713
102,057
2.00%,
9/01/2051
(d)
579,651
512,485
2.00%,
9/01/2051
(d)
369,379
326,578
2.50%,
9/01/2051
(d)
95,019
86,869
2.50%,
9/01/2051
(d)
444,644
406,508
1.50%,
10/01/2051
(d)
48,696
41,170
2.00%,
10/01/2051
(d)
773,396
683,780
2.00%,
10/01/2051
(d)
194,158
171,660
2.00%,
10/01/2051
(d)
385,485
340,817
2.00%,
10/01/2051
(d)
219,067
193,683
2.50%,
10/01/2051
(d)
362,518
331,425
2.50%,
10/01/2051
(d)
856,834
783,345
2.50%,
11/01/2051
(d)
291,899
266,863
2.00%,
12/01/2051
(d)
370,487
327,558
2.00%,
12/01/2051
(d)
344,320
304,423
2.50%,
12/01/2051
(d)
590,292
539,664
2.00%,
1/01/2052
(d)
698,566
617,620
2.50%,
3/01/2052
(d)
173,970
158,799
1.50%,
5/15/2052
(d)(e)
100,000
84,289
2.00%,
5/15/2052
(e)
550,000
484,756
2.50%,
5/15/2052
(e)
1,425,000
1,299,314
3.00%,
5/15/2052
(e)
1,150,000
1,083,872
3.50%,
5/15/2052
(e)
675,000
654,384
4.00%,
5/15/2052
(e)
675,000
670,876
5.00%,
5/15/2052
(d)(e)
75,000
77,591
5.50%,
5/15/2052
(d)(e)
125,000
130,371
1.50%,
6/15/2052
(d)(e)
50,000
42,087
2.00%,
6/15/2052
(e)
175,000
153,944
2.50%,
6/15/2052
(e)
475,000
432,216
3.50%,
6/15/2052
(d)(e)
100,000
96,702
4.00%,
6/15/2052
(e)
50,000
49,537
79
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Federal
National
Mortgage
Association
(continued)
4.50%,
6/15/2052
(d)(e)
25,000
25,290
5.00%,
6/15/2052
(e)
50,000
51,433
5.50%,
6/15/2052
(d)(e)
50,000
52,076
Federal
National
Mortgage
Association
REMICs
Series
2014-M3,
Class
A2,
3.50%,
1/25/2024
(d)
9,279
9,319
Series
2018-M1,
Class
A2,
3.09%,
12/25/2027
(d)
40,756
39,856
Series
2019-M1,
Class
A2,
3.67%,
9/25/2028
(d)
25,000
25,300
Series
2019-M5,
Class
A2,
3.27%,
2/25/2029
(d)
40,000
39,811
Series
2019-M7,
Class
A2,
3.14%,
4/25/2029
(d)
19,318
19,053
Series
2019-M22,
Class
A2,
2.52%,
8/25/2029
(d)
38,655
36,643
Series
2020-M20,
Class
A2,
1.44%,
10/25/2029
(d)
200,000
174,351
Series
2020-M1,
Class
A1,
2.15%,
10/25/2029
(d)
23,569
22,589
Series
2020-M1,
Class
A2,
2.44%,
10/25/2029
(d)
200,000
187,945
Series
2018-M13,
Class
A2,
3.87%,
9/25/2030
(d)
8,984
9,103
Series
2021-M1G,
Class
A2,
1.56%,
11/25/2030
(d)
60,000
51,491
Series
2021-M13,
Class
2A1,
1.49%,
11/25/2032
(d)
97,751
87,306
Government
National
Mortgage
Association
2.00%,
5/15/2052
(e)
300,000
271,787
2.50%,
5/15/2052
(e)
1,175,000
1,089,801
3.00%,
5/15/2052
(e)
1,800,000
1,715,162
3.50%,
5/15/2052
(e)
375,000
366,715
2.00%,
6/15/2052
(e)
50,000
45,215
2.50%,
6/15/2052
(e)
50,000
46,277
3.00%,
6/15/2052
(e)
125,000
118,825
4.50%,
6/15/2052
(e)
50,000
50,686
Government
National
Mortgage
Association
II
3.50%,
10/20/2026
24,195
24,233
5.00%,
9/20/2039
79,449
85,319
4.00%,
10/20/2040
21,804
22,356
5.00%,
10/20/2040
27,599
29,636
4.00%,
11/20/2040
58,058
59,529
4.50%,
1/20/2041
15,193
15,989
4.00%,
11/20/2041
20,010
20,502
3.00%,
6/20/2042
23,858
23,295
3.00%,
8/20/2042
57,428
56,072
2.50%,
2/20/2043
282,065
264,724
3.50%,
2/20/2043
46,932
46,744
2.50%,
3/20/2043
14,429
13,543
3.00%,
4/20/2043
73,670
71,785
3.50%,
7/20/2043
94,259
93,887
3.50%,
9/20/2044
210,540
209,102
4.00%,
11/20/2044
241,189
247,416
4.50%,
1/20/2045
30,464
31,938
3.50%,
2/20/2045
37,487
37,231
3.50%,
6/20/2045
158,870
158,026
3.00%,
8/20/2045
325,791
316,490
3.50%,
12/20/2045
50,127
49,861
3.50%,
3/20/2046
156,687
155,644
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Government
National
Mortgage
Association
II
(continued)
4.00%,
3/20/2046
37,178
37,841
3.00%,
4/20/2046
46,750
45,226
4.00%,
6/20/2046
50,154
51,009
2.50%,
7/20/2046
34,027
31,790
3.00%,
9/20/2046
228,367
220,919
2.50%,
10/20/2046
10,412
9,728
3.00%,
10/20/2046
43,025
41,622
3.00%,
11/20/2046
44,166
42,726
3.50%,
11/20/2046
101,313
100,638
2.50%,
12/20/2046
174,651
163,167
3.00%,
1/20/2047
98,078
94,880
3.00%,
2/20/2047
50,003
48,372
3.50%,
2/20/2047
385,929
383,359
3.00%,
5/20/2047
82,280
79,421
3.50%,
5/20/2047
137,320
135,854
4.00%,
8/20/2047
167,070
168,810
4.50%,
9/20/2047
39,643
40,975
3.00%,
10/20/2047
12,284
11,857
3.50%,
2/20/2048
133,836
132,407
4.50%,
3/20/2048
159,787
165,155
4.00%,
4/20/2048
267,386
268,984
4.50%,
5/20/2048
82,347
85,114
4.50%,
6/20/2048
110,427
113,179
5.00%,
6/20/2048
9,854
10,318
4.00%,
7/20/2048
15,015
15,104
4.00%,
9/20/2048
15,380
15,471
3.50%,
10/20/2048
40,387
39,835
4.00%,
11/20/2048
44,753
45,020
4.50%,
11/20/2048
24,623
25,237
3.50%,
1/20/2049
126,359
125,010
4.00%,
2/20/2049
23,375
23,515
3.50%,
3/20/2049
27,123
26,752
3.50%,
12/20/2049
55,462
54,619
3.00%,
1/20/2050
193,374
186,019
3.50%,
4/20/2050
17,120
16,860
4.00%,
5/20/2050
17,088
17,176
5.00%,
5/20/2050
39,739
41,613
2.50%,
7/20/2050
542,834
507,225
3.00%,
7/20/2050
91,444
87,759
3.50%,
7/20/2050
32,849
32,245
2.00%,
8/20/2050
312,644
285,111
3.00%,
8/20/2050
12,311
11,815
4.00%,
8/20/2050
103,532
104,067
4.50%,
8/20/2050
23,729
24,297
2.50%,
9/20/2050
143,310
133,909
4.50%,
9/20/2050
20,641
21,135
2.50%,
10/20/2050
49,140
45,917
2.00%,
11/20/2050
266,404
242,943
3.00%,
11/20/2050
43,872
42,104
2.00%,
12/20/2050
299,953
273,537
3.50%,
12/20/2050
13,997
13,740
2.00%,
1/20/2051
593,758
541,469
2.50%,
1/20/2051
312,309
291,822
1.50%,
2/20/2051
88,595
76,934
2.50%,
2/20/2051
200,984
187,043
3.00%,
2/20/2051
230,578
221,287
2.50%,
3/20/2051
402,289
374,387
4.00%,
3/20/2051
63,810
64,139
2.00%,
4/20/2051
707,965
643,353
2.50%,
4/20/2051
320,664
298,423
80
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Government
Agencies
–
29.8%
(continued)
Government
National
Mortgage
Association
II
(continued)
3.50%,
4/20/2051
118,676
116,495
2.00%,
5/20/2051
314,882
286,144
2.50%,
5/20/2051
302,719
281,722
2.00%,
7/20/2051
421,227
382,784
2.50%,
7/20/2051
486,439
452,699
3.50%,
7/20/2051
107,741
105,761
2.50%,
8/20/2051
353,881
329,336
2.00%,
9/20/2051
217,354
197,518
2.00%,
10/20/2051
121,801
110,685
2.50%,
10/20/2051
145,085
135,022
3.50%,
10/20/2051
95,489
93,624
2.00%,
11/20/2051
688,781
625,920
2.00%,
1/20/2052
593,743
539,555
Tennessee
Valley
Authority
Series
B,
4.70%,
7/15/2033
157,000
173,633
5.25%,
9/15/2039
145,000
171,030
Total
U.S.
Government
Agencies
(cost
$95,217,614)
88,216,889
U.S.
Treasury
Government
Securities
–
40.1%
U.S.
Treasury
Bonds
6.25%,
5/15/2030
20,000
24,753
5.38%,
2/15/2031
255,000
303,410
4.50%,
2/15/2036
(a)
410,000
488,733
4.75%,
2/15/2037
150,000
183,445
5.00%,
5/15/2037
(a)
100,000
125,328
4.38%,
2/15/2038
425,000
501,766
4.50%,
5/15/2038
100,000
119,594
3.50%,
2/15/2039
100,000
106,328
4.25%,
5/15/2039
20,000
23,281
4.38%,
11/15/2039
200,000
235,812
4.63%,
2/15/2040
35,000
42,596
1.13%,
5/15/2040
445,000
320,470
4.38%,
5/15/2040
60,000
70,809
1.13%,
8/15/2040
775,000
555,336
3.88%,
8/15/2040
50,000
55,289
1.38%,
11/15/2040
880,000
658,350
4.25%,
11/15/2040
34,000
39,339
1.88%,
2/15/2041
835,000
681,569
4.75%,
2/15/2041
45,000
55,484
2.25%,
5/15/2041
845,000
731,849
4.38%,
5/15/2041
85,000
99,915
1.75%,
8/15/2041
1,070,000
847,641
3.75%,
8/15/2041
15,000
16,263
2.00%,
11/15/2041
705,000
583,498
3.13%,
11/15/2041
250,000
248,125
2.38%,
2/15/2042
(a)
635,000
561,181
3.13%,
2/15/2042
355,000
352,393
3.00%,
5/15/2042
125,000
121,562
2.75%,
8/15/2042
322,000
299,963
2.75%,
11/15/2042
392,000
364,621
3.13%,
2/15/2043
420,000
414,619
2.88%,
5/15/2043
275,000
260,562
3.63%,
8/15/2043
100,000
106,547
3.75%,
11/15/2043
300,000
325,547
3.63%,
2/15/2044
150,000
159,867
3.38%,
5/15/2044
150,000
153,937
3.13%,
8/15/2044
170,000
167,583
3.00%,
11/15/2044
115,000
111,029
2.50%,
2/15/2045
255,000
225,595
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Treasury
Government
Securities
–
40.1%
(continued)
U.S.
Treasury
Bonds
(continued)
3.00%,
5/15/2045
75,000
72,492
2.88%,
8/15/2045
75,000
71,004
2.50%,
2/15/2046
150,000
132,914
2.50%,
5/15/2046
155,000
137,296
2.25%,
8/15/2046
200,000
168,719
2.88%,
11/15/2046
410,000
390,141
3.00%,
2/15/2047
265,000
257,961
3.00%,
5/15/2047
440,000
429,000
2.75%,
8/15/2047
1,465,000
1,368,173
2.75%,
11/15/2047
225,000
210,234
3.00%,
2/15/2048
316,000
310,421
3.13%,
5/15/2048
410,000
413,075
3.00%,
8/15/2048
375,000
368,672
3.38%,
11/15/2048
745,000
787,605
3.00%,
2/15/2049
665,000
659,181
2.88%,
5/15/2049
525,000
508,758
2.25%,
8/15/2049
555,000
474,265
2.38%,
11/15/2049
335,000
294,486
2.00%,
2/15/2050
470,000
379,231
1.25%,
5/15/2050
1,038,000
691,730
1.38%,
8/15/2050
780,000
536,616
1.63%,
11/15/2050
660,000
484,997
1.88%,
2/15/2051
(a)
815,000
638,629
2.38%,
5/15/2051
885,000
779,077
2.00%,
8/15/2051
800,000
646,000
1.88%,
11/15/2051
(a)
990,000
776,222
2.25%,
2/15/2052
700,000
601,016
U.S.
Treasury
Notes
0.13%,
5/15/2023
245,000
239,851
1.75%,
5/15/2023
355,000
353,419
0.13%,
5/31/2023
470,000
459,572
1.63%,
5/31/2023
200,000
198,711
2.75%,
5/31/2023
150,000
150,826
0.25%,
6/15/2023
680,000
665,072
0.13%,
6/30/2023
475,000
463,181
1.38%,
6/30/2023
225,000
222,636
2.63%,
6/30/2023
200,000
200,750
0.13%,
7/15/2023
325,000
316,393
0.13%,
7/31/2023
800,000
777,625
1.25%,
7/31/2023
100,000
98,605
2.75%,
7/31/2023
200,000
200,859
0.13%,
8/15/2023
540,000
524,264
2.50%,
8/15/2023
500,000
500,586
0.13%,
8/31/2023
785,000
760,898
1.38%,
8/31/2023
600,000
591,539
2.75%,
8/31/2023
100,000
100,371
0.13%,
9/15/2023
775,000
750,630
0.25%,
9/30/2023
(a)
970,000
939,953
1.38%,
9/30/2023
(a)
130,000
127,999
2.88%,
9/30/2023
(a)
850,000
854,383
0.13%,
10/15/2023
500,000
482,988
0.38%,
10/31/2023
500,000
484,121
1.63%,
10/31/2023
200,000
197,352
2.88%,
10/31/2023
200,000
200,922
0.25%,
11/15/2023
500,000
482,637
2.75%,
11/15/2023
725,000
727,039
0.50%,
11/30/2023
820,000
793,478
2.13%,
11/30/2023
200,000
198,617
2.88%,
11/30/2023
350,000
351,518
0.13%,
12/15/2023
445,000
427,582
81
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Treasury
Government
Securities
–
40.1%
(continued)
U.S.
Treasury
Notes
(continued)
0.75%,
12/31/2023
785,000
760,867
2.25%,
12/31/2023
200,000
198,758
2.63%,
12/31/2023
(a)
700,000
700,191
0.13%,
1/15/2024
500,000
479,102
0.88%,
1/31/2024
(a)
1,290,000
1,250,746
2.25%,
1/31/2024
200,000
198,586
2.50%,
1/31/2024
400,000
398,844
0.13%,
2/15/2024
945,000
903,250
2.75%,
2/15/2024
700,000
700,902
1.50%,
2/29/2024
(a)
515,000
504,257
2.13%,
2/29/2024
200,000
198,039
2.38%,
2/29/2024
200,000
198,930
0.25%,
3/15/2024
870,000
831,462
2.13%,
3/31/2024
850,000
840,836
2.25%,
3/31/2024
(a)
555,000
550,274
0.38%,
4/15/2024
490,000
468,256
2.00%,
4/30/2024
141,000
139,034
2.25%,
4/30/2024
700,000
693,684
2.50%,
4/30/2024
560,000
557,648
2.50%,
5/15/2024
(a)
445,000
442,879
2.00%,
5/31/2024
400,000
393,969
0.25%,
6/15/2024
815,000
772,849
1.75%,
6/30/2024
(a)
250,000
244,590
2.00%,
6/30/2024
(a)
580,000
570,711
0.38%,
7/15/2024
(a)
1,200,000
1,138,500
1.75%,
7/31/2024
300,000
293,250
2.13%,
7/31/2024
250,000
246,367
0.38%,
8/15/2024
870,000
823,238
2.38%,
8/15/2024
550,000
544,328
1.25%,
8/31/2024
600,000
578,812
1.88%,
8/31/2024
300,000
293,555
0.38%,
9/15/2024
505,000
476,554
1.50%,
9/30/2024
(a)
400,000
387,594
2.13%,
9/30/2024
100,000
98,344
0.63%,
10/15/2024
(a)
1,000,000
947,656
1.50%,
10/31/2024
400,000
387,000
2.25%,
10/31/2024
(a)
81,000
79,810
0.75%,
11/15/2024
910,000
863,007
2.25%,
11/15/2024
625,000
615,479
1.50%,
11/30/2024
700,000
676,375
2.13%,
11/30/2024
130,000
127,593
1.00%,
12/15/2024
(a)
620,000
591,034
1.75%,
12/31/2024
600,000
582,703
2.25%,
12/31/2024
125,000
122,998
1.13%,
1/15/2025
1,270,000
1,212,155
1.38%,
1/31/2025
575,000
552,135
2.50%,
1/31/2025
100,000
99,008
1.50%,
2/15/2025
895,000
861,577
2.00%,
2/15/2025
850,000
829,945
1.13%,
2/28/2025
585,000
557,258
2.75%,
2/28/2025
175,000
174,330
1.75%,
3/15/2025
(a)
535,000
518,281
0.50%,
3/31/2025
400,000
373,469
2.63%,
4/15/2025
540,000
536,119
0.38%,
4/30/2025
600,000
556,828
2.88%,
4/30/2025
500,000
499,687
2.13%,
5/15/2025
605,000
591,198
0.25%,
5/31/2025
610,000
562,391
2.88%,
5/31/2025
200,000
199,781
0.25%,
6/30/2025
700,000
643,891
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Treasury
Government
Securities
–
40.1%
(continued)
U.S.
Treasury
Notes
(continued)
0.25%,
7/31/2025
700,000
642,086
2.00%,
8/15/2025
380,000
368,927
0.25%,
8/31/2025
265,000
242,558
2.75%,
8/31/2025
700,000
695,898
0.25%,
9/30/2025
635,000
579,884
3.00%,
9/30/2025
(a)
50,000
50,109
0.25%,
10/31/2025
500,000
455,586
2.25%,
11/15/2025
490,000
478,630
0.38%,
11/30/2025
450,000
410,871
2.88%,
11/30/2025
100,000
99,758
0.38%,
12/31/2025
590,000
537,638
0.38%,
1/31/2026
1,025,000
931,629
2.63%,
1/31/2026
(a)
40,000
39,544
1.63%,
2/15/2026
315,000
300,013
0.50%,
2/28/2026
820,000
747,481
2.50%,
2/28/2026
60,000
59,025
0.75%,
3/31/2026
785,000
721,219
2.25%,
3/31/2026
(a)
150,000
146,109
0.75%,
4/30/2026
350,000
321,043
2.38%,
4/30/2026
(a)
200,000
195,703
1.63%,
5/15/2026
545,000
517,452
0.75%,
5/31/2026
800,000
732,188
2.13%,
5/31/2026
100,000
96,812
0.88%,
6/30/2026
525,000
482,221
1.88%,
6/30/2026
140,000
134,159
0.63%,
7/31/2026
605,000
548,754
1.88%,
7/31/2026
274,000
262,376
1.50%,
8/15/2026
295,000
277,600
0.75%,
8/31/2026
790,000
719,332
1.38%,
8/31/2026
150,000
140,391
0.88%,
9/30/2026
430,000
393,047
1.63%,
9/30/2026
100,000
94,477
1.13%,
10/31/2026
845,000
779,843
1.63%,
10/31/2026
200,000
188,781
2.00%,
11/15/2026
475,000
455,369
1.25%,
11/30/2026
1,130,000
1,048,075
1.63%,
11/30/2026
150,000
141,480
1.25%,
12/31/2026
675,000
625,061
1.75%,
12/31/2026
250,000
236,953
1.50%,
1/31/2027
900,000
842,414
2.25%,
2/15/2027
460,000
445,445
1.13%,
2/28/2027
150,000
137,754
1.88%,
2/28/2027
(a)
720,000
685,688
0.63%,
3/31/2027
(a)
600,000
536,625
2.50%,
3/31/2027
(a)
1,865,000
1,827,700
0.50%,
4/30/2027
745,000
660,605
2.75%,
4/30/2027
375,000
371,792
2.38%,
5/15/2027
585,000
569,232
0.50%,
5/31/2027
405,000
358,204
0.50%,
6/30/2027
800,000
706,125
0.38%,
7/31/2027
525,000
459,662
2.25%,
8/15/2027
325,000
313,574
0.50%,
8/31/2027
470,000
413,159
0.38%,
9/30/2027
800,000
697,062
0.50%,
10/31/2027
740,000
647,905
2.25%,
11/15/2027
730,000
703,366
0.63%,
11/30/2027
900,000
792,070
0.63%,
12/31/2027
830,000
729,103
0.75%,
1/31/2028
(a)
860,000
759,286
2.75%,
2/15/2028
375,000
370,605
82
STATEMENT
OF
INVESTMENTS
(continued)
(a)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$19,460,751
and
the
value
of
the
collateral
was
$20,094,103,
consisting
of
cash
collateral
of
$6,300,306
and
U.S.
Government
&
Agency
securities
valued
at
$13,793,797.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(b)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
April
30,
2022,
these
securities
were
valued
at
$1,478,724
or
0.50%
of
net
assets.
(c)
Denotes
a
zero
coupon
security
issued
at
a
substantial
discount
from
its
value
at
maturity.
BNY
Mellon
Core
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
U.S.
Treasury
Government
Securities
–
40.1%
(continued)
U.S.
Treasury
Notes
(continued)
1.13%,
2/29/2028
(a)
610,000
550,334
1.25%,
3/31/2028
710,000
643,881
1.25%,
4/30/2028
705,000
638,466
2.88%,
5/15/2028
532,000
528,924
1.25%,
5/31/2028
925,000
836,547
1.25%,
6/30/2028
380,000
343,128
1.00%,
7/31/2028
215,000
190,863
2.88%,
8/15/2028
719,000
714,619
1.13%,
8/31/2028
695,000
621,048
1.25%,
9/30/2028
635,000
571,103
1.38%,
10/31/2028
455,000
412,130
3.13%,
11/15/2028
575,000
580,211
1.50%,
11/30/2028
430,000
392,241
1.38%,
12/31/2028
(a)
435,000
393,539
1.75%,
1/31/2029
(a)
1,050,000
972,563
2.63%,
2/15/2029
997,000
976,593
1.88%,
2/28/2029
(a)
450,000
420,258
2.38%,
3/31/2029
400,000
385,563
2.88%,
4/30/2029
575,000
572,383
2.38%,
5/15/2029
705,000
679,334
1.63%,
8/15/2029
440,000
402,669
1.75%,
11/15/2029
240,000
221,212
1.50%,
2/15/2030
(a)
667,000
601,655
0.63%,
5/15/2030
625,000
522,754
0.63%,
8/15/2030
1,140,000
948,872
0.88%,
11/15/2030
1,520,000
1,287,963
1.13%,
2/15/2031
(a)
1,380,000
1,190,897
1.63%,
5/15/2031
1,180,000
1,060,709
1.25%,
8/15/2031
1,500,000
1,299,375
1.38%,
11/15/2031
1,080,000
943,144
1.88%,
2/15/2032
1,255,000
1,145,972
Total
U.S.
Treasury
Government
Securities
(cost
$128,740,369)
118,791,603
Shares
Investment
Companies
–
4.7%
Registered
Investment
Companies
–
4.7%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(f)(g)
(cost
$13,928,374)
13,928,374
13,928,374
Investment
of
Cash
Collateral
for
Securities
Loaned
–
2.1%
Registered
Investment
Companies
–
2.1%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(f)(g)
(cost
$6,300,306)
6,300,306
6,300,306
Total
Investments
(cost
$342,202,816)
106.1%
314,430,801
Liabilities,
Less
Cash
and
Receivables
(6.1)%
(18,056,969)
Net
Assets
100.0%
296,373,832
GO—General
Obligation
RB—Revenue
Bond
REMICs—Real
Estate
Mortgage
Investment
Conduits
83
(d)
The
Federal
Housing
Finance
Agency
(“FHFA”)
placed
the
Federal
Home
Loan
Mortgage
Corporation
and
Federal
National
Mortgage
Association
into
conservatorship
with
FHFA
as
the
conservator.
As
such,
the
FHFA
oversees
the
continuing
affairs
of
these
companies.
(e)
Purchased
on
a
forward
commitment
basis.
(f)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
(g)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
See
Notes
to
Financial
Statements
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
8,924,030
59,021,110
(54,016,766)
—
—
13,928,374
4.7
4,678
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
3,594,325
26,884,862
(24,178,881)
—
—
6,300,306
2.1
6,464
2
Total
12,518,355
85,905,972
(78,195,647)
—
—
20,228,680
6.8
11,142
1
Includes
reinvested
dividends/distributions.
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
Portfolio
Summary
(Unaudited)
†
Value
(%)
Government
43.8
Financial
39.2
Registered
Investment
Companies
6.8
Consumer,
Non-cyclical
3.9
Communications
2.4
Utilities
2.1
Industrial
2.0
Energy
1.9
Consumer,
Cyclical
1.7
Technology
1.6
Basic
Materials
0.7
106.1
†
Based
on
net
assets.
84
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
Basic
Materials
–
1.6%
Air
Products
&
Chemicals,
Inc.,
1.50%,
10/15/2025
25,000
23,443
Albemarle
Corp.,
4.15%,
12/01/2024
10,000
10,124
Arcelormittal
SA,
4.55%,
3/11/2026
50,000
50,564
BHP
Billiton
Finance
USA
Ltd.,
3.85%,
9/30/2023
50,000
50,619
Celanese
US
Holdings
LLC,
3.50%,
5/08/2024
25,000
24,884
Celulosa
Arauco
y
Constitucion
SA,
4.50%,
8/01/2024
25,000
25,247
Dow
Chemical
Co.
(The),
3.63%,
5/15/2026
25,000
24,778
DuPont
de
Nemours,
Inc.
4.21%,
11/15/2023
100,000
101,375
4.49%,
11/15/2025
50,000
50,978
Eastman
Chemical
Co.,
3.80%,
3/15/2025
25,000
24,895
Ecolab,
Inc.,
0.90%,
12/15/2023
50,000
48,458
Georgia-Pacific
LLC,
8.00%,
1/15/2024
25,000
26,986
Linde,
Inc.,
2.65%,
2/05/2025
50,000
49,125
LYB
International
Finance
BV,
4.00%,
7/15/2023
30,000
30,307
Mosaic
Co.
(The),
4.25%,
11/15/2023
25,000
25,295
Nucor
Corp.,
2.00%,
6/01/2025
50,000
47,830
Nutrien
Ltd.,
1.90%,
5/13/2023
50,000
49,449
PPG
Industries,
Inc.,
1.20%,
3/15/2026
50,000
45,474
Reliance
Steel
&
Aluminum
Co.,
1.30%,
8/15/2025
25,000
23,151
Steel
Dynamics,
Inc.,
2.40%,
6/15/2025
50,000
47,828
Vale
Overseas
Ltd.,
6.25%,
8/10/2026
100,000
105,302
886,112
Communications
–
5.5%
Alphabet,
Inc.
3.38%,
2/25/2024
25,000
25,306
0.45%,
8/15/2025
50,000
46,051
2.00%,
8/15/2026
50,000
47,525
Amazon.com,
Inc.
0.25%,
5/12/2023
75,000
73,410
0.40%,
6/03/2023
60,000
58,746
0.45%,
5/12/2024
40,000
38,155
2.80%,
8/22/2024
85,000
84,652
0.80%,
6/03/2025
20,000
18,620
1.00%,
5/12/2026
70,000
63,877
3.30%,
4/13/2027
100,000
99,272
AT&T,
Inc.
0.90%,
3/25/2024
150,000
144,238
3.95%,
1/15/2025
25,000
25,539
3.40%,
5/15/2025
45,000
45,433
4.13%,
2/17/2026
50,000
51,567
1.70%,
3/25/2026
50,000
46,151
2.95%,
7/15/2026
50,000
48,537
Booking
Holdings,
Inc.,
3.65%,
3/15/2025
50,000
50,150
Charter
Communications
Operating
LLC
/
Charter
Communications
Operating
Capital,
4.91%,
7/23/2025
150,000
152,785
Cisco
Systems,
Inc.
2.20%,
9/20/2023
70,000
69,561
3.63%,
3/04/2024
10,000
10,137
2.50%,
9/20/2026
35,000
33,835
Comcast
Corp.
3.38%,
2/15/2025
110,000
110,087
3.38%,
8/15/2025
25,000
24,911
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Communications
–
5.5%
(continued)
3.95%,
10/15/2025
75,000
75,952
3.15%,
3/01/2026
25,000
24,566
2.35%,
1/15/2027
50,000
46,939
Discovery
Communications
LLC
3.45%,
3/15/2025
60,000
58,703
3.95%,
6/15/2025
25,000
24,795
eBay,
Inc.
3.45%,
8/01/2024
25,000
25,051
1.90%,
3/11/2025
25,000
23,826
1.40%,
5/10/2026
35,000
31,850
Expedia
Group,
Inc.,
4.50%,
8/15/2024
15,000
15,173
Expedia,
Inc.,
5.00%,
2/15/2026
50,000
51,177
Fox
Corp.,
3.05%,
4/07/2025
125,000
122,828
Juniper
Networks,
Inc.,
1.20%,
12/10/2025
25,000
22,808
Motorola
Solutions,
Inc.,
4.00%,
9/01/2024
25,000
25,180
Omnicom
Group,
Inc.
/
Omnicom
Capital,
Inc.,
3.65%,
11/01/2024
45,000
45,012
Rogers
Communications,
Inc.
4.10%,
10/01/2023
50,000
50,501
3.20%,
3/15/2027
(a)
75,000
71,516
TCI
Communications,
Inc.,
7.88%,
2/15/2026
20,000
22,734
T-Mobile
USA,
Inc.
1.50%,
2/15/2026
160,000
146,065
3.75%,
4/15/2027
50,000
48,683
VeriSign,
Inc.,
5.25%,
4/01/2025
25,000
25,738
Verizon
Communications,
Inc.
3.38%,
2/15/2025
95,000
94,914
0.85%,
11/20/2025
50,000
45,570
1.45%,
3/20/2026
70,000
64,229
2.63%,
8/15/2026
50,000
47,499
4.13%,
3/16/2027
75,000
75,465
ViacomCBS
,
Inc.,
4.75%,
5/15/2025
22,000
22,542
Vodafone
Group
PLC,
3.75%,
1/16/2024
50,000
50,552
Walt
Disney
Co.
(The)
3.70%,
9/15/2024
50,000
50,524
3.70%,
10/15/2025
125,000
126,135
1.75%,
1/13/2026
50,000
46,907
WPP
Finance
2010,
3.75%,
9/19/2024
50,000
49,948
3,001,927
Consumer,
Cyclical
–
7.1%
American
Honda
Finance
Corp.
1.95%,
5/10/2023
50,000
49,600
0.88%,
7/07/2023
75,000
73,427
3.45%,
7/14/2023
30,000
30,217
2.15%,
9/10/2024
70,000
68,202
1.20%,
7/08/2025
25,000
23,257
1.30%,
9/09/2026
50,000
45,417
AutoNation,
Inc.,
3.50%,
11/15/2024
25,000
24,764
AutoZone,
Inc.
3.13%,
7/15/2023
50,000
50,110
3.13%,
4/18/2024
15,000
14,918
Continental
Airlines
Pass-Through
Trust,
Series
2012-2,
Class
A,
4.00%,
10/29/2024
14,407
14,259
Costco
Wholesale
Corp.,
2.75%,
5/18/2024
45,000
44,910
Cummins,
Inc.,
0.75%,
9/01/2025
25,000
22,941
D.R.
Horton,
Inc.
5.75%,
8/15/2023
25,000
25,726
2.50%,
10/15/2024
35,000
34,103
85
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Consumer,
Cyclical
–
7.1%
(continued)
Delta
Air
Lines
Pass-Through
Trust,
Series
2019-
1,
Class
AA,
3.20%,
4/25/2024
25,000
24,677
Dollar
General
Corp.,
4.15%,
11/01/2025
25,000
25,388
Dollar
Tree,
Inc.,
4.00%,
5/15/2025
75,000
75,424
General
Motors
Co.
4.88%,
10/02/2023
100,000
102,083
5.40%,
10/02/2023
25,000
25,697
4.00%,
4/01/2025
25,000
24,946
6.13%,
10/01/2025
25,000
26,348
General
Motors
Financial
Co.,
Inc.
3.70%,
5/09/2023
10,000
10,058
1.70%,
8/18/2023
25,000
24,508
5.10%,
1/17/2024
25,000
25,543
3.95%,
4/13/2024
25,000
25,102
4.00%,
1/15/2025
50,000
49,947
2.90%,
2/26/2025
50,000
48,434
2.75%,
6/20/2025
25,000
23,979
1.25%,
1/08/2026
25,000
22,362
1.50%,
6/10/2026
25,000
22,230
4.00%,
10/06/2026
25,000
24,447
4.35%,
1/17/2027
100,000
98,649
2.35%,
2/26/2027
100,000
90,103
Hasbro,
Inc.,
3.00%,
11/19/2024
25,000
24,707
Home
Depot,
Inc.
(The)
3.00%,
4/01/2026
50,000
49,257
2.13%,
9/15/2026
50,000
47,464
Honda
Motor
Co.,
Ltd.,
2.53%,
3/10/2027
50,000
47,430
Hyatt
Hotels
Corp.
3.38%,
7/15/2023
25,000
24,846
5.63%,
4/23/2025
50,000
51,560
Kohl's
Corp.,
4.25%,
7/17/2025
25,000
25,024
Las
Vegas
Sands
Corp.,
3.20%,
8/08/2024
115,000
110,440
Lennar
Corp.
4.88%,
12/15/2023
10,000
10,177
4.50%,
4/30/2024
25,000
25,377
5.25%,
6/01/2026
25,000
25,775
Lowe's
Cos.,
Inc.
3.13%,
9/15/2024
15,000
14,952
4.00%,
4/15/2025
50,000
50,697
3.35%,
4/01/2027
50,000
48,815
Magallanes,
Inc.
3.64%,
3/15/2025
(a)
100,000
98,550
3.76%,
3/15/2027
(a)
150,000
144,824
Magna
International,
Inc.,
4.15%,
10/01/2025
25,000
25,340
Marriott
International,
Inc.
Series
EE,
5.75%,
5/01/2025
6,000
6,291
Series
R,
3.13%,
6/15/2026
100,000
96,538
McDonald's
Corp.
3.30%,
7/01/2025
100,000
99,607
1.45%,
9/01/2025
25,000
23,441
3.70%,
1/30/2026
25,000
25,074
Nike,
Inc.
2.40%,
3/27/2025
50,000
48,853
2.75%,
3/27/2027
50,000
48,266
O'Reilly
Automotive,
Inc.,
3.55%,
3/15/2026
25,000
24,677
PACCAR
Financial
Corp.
0.35%,
8/11/2023
25,000
24,276
1.10%,
5/11/2026
35,000
31,874
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Consumer,
Cyclical
–
7.1%
(continued)
2.00%,
2/04/2027
50,000
46,833
PulteGroup,
Inc.,
5.50%,
3/01/2026
50,000
52,116
PVH
Corp.,
4.63%,
7/10/2025
25,000
25,204
Ross
Stores,
Inc.,
4.60%,
4/15/2025
25,000
25,595
Southwest
Airlines
Co.,
5.25%,
5/04/2025
50,000
51,601
Starbucks
Corp.,
2.45%,
6/15/2026
100,000
95,566
Target
Corp.,
2.25%,
4/15/2025
100,000
97,190
TJX
Cos.,
Inc.
(The),
2.50%,
5/15/2023
50,000
49,983
Toyota
Motor
Corp.
0.68%,
3/25/2024
110,000
105,140
1.34%,
3/25/2026
25,000
23,017
Toyota
Motor
Credit
Corp.
3.45%,
9/20/2023
50,000
50,408
2.90%,
4/17/2024
50,000
49,821
0.63%,
9/13/2024
25,000
23,581
3.00%,
4/01/2025
50,000
49,391
3.40%,
4/14/2025
25,000
25,010
0.80%,
10/16/2025
40,000
36,598
1.13%,
6/18/2026
35,000
31,787
1.90%,
1/13/2027
75,000
69,626
United
Airlines
Pass-Through
Trust
Series
2012-1,
Class
A,
4.15%,
4/11/2024
13,926
13,815
Series
2014-1,
Class
A,
4.00%,
4/11/2026
12,311
12,112
VF
Corp.,
2.40%,
4/23/2025
25,000
24,182
Walgreens
Boots
Alliance,
Inc.,
3.80%,
11/18/2024
50,000
50,334
Walmart,
Inc.
3.40%,
6/26/2023
200,000
202,498
2.85%,
7/08/2024
85,000
84,908
3.55%,
6/26/2025
25,000
25,302
WW
Grainger,
Inc.,
1.85%,
2/15/2025
25,000
23,998
3,891,524
Consumer,
Non-cyclical
–
13.1%
Abbott
Laboratories
3.40%,
11/30/2023
25,000
25,227
2.95%,
3/15/2025
50,000
49,758
3.75%,
11/30/2026
50,000
50,756
AbbVie,
Inc.
2.85%,
5/14/2023
45,000
45,076
3.85%,
6/15/2024
25,000
25,203
2.60%,
11/21/2024
100,000
97,676
3.80%,
3/15/2025
50,000
50,072
3.60%,
5/14/2025
70,000
69,706
3.20%,
5/14/2026
75,000
73,038
2.95%,
11/21/2026
85,000
81,448
Aetna,
Inc.,
2.80%,
6/15/2023
50,000
49,898
Altria
Group,
Inc.
2.35%,
5/06/2025
25,000
23,938
4.40%,
2/14/2026
100,000
101,171
2.63%,
9/16/2026
(b)
50,000
46,900
Amgen,
Inc.
2.25%,
8/19/2023
75,000
74,511
3.13%,
5/01/2025
25,000
24,741
2.60%,
8/19/2026
50,000
47,789
Anheuser-Busch
Cos.
LLC
/
Anheuser-Busch
InBev
Worldwide,
Inc.,
3.65%,
2/01/2026
75,000
74,517
Anthem,
Inc.
3.50%,
8/15/2024
25,000
25,022
86
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Consumer,
Non-cyclical
–
13.1%
(continued)
3.35%,
12/01/2024
25,000
24,915
2.38%,
1/15/2025
75,000
72,623
AstraZeneca
Finance
LLC,
1.20%,
5/28/2026
100,000
90,887
AstraZeneca
PLC
3.38%,
11/16/2025
100,000
99,664
0.70%,
4/08/2026
25,000
22,355
BAT
Capital
Corp.
3.22%,
8/15/2024
90,000
88,826
2.79%,
9/06/2024
25,000
24,422
3.22%,
9/06/2026
25,000
23,594
BAT
International
Finance
PLC,
1.67%,
3/25/2026
50,000
44,915
Baxter
International,
Inc.,
1.92%,
2/01/2027
(a)
100,000
90,985
Becton,
Dickinson
&
Co.
3.36%,
6/06/2024
25,000
24,907
3.73%,
12/15/2024
35,000
35,070
Biogen,
Inc.,
4.05%,
9/15/2025
75,000
74,793
Boston
Scientific
Corp.,
3.45%,
3/01/2024
22,000
22,021
Bristol-Myers
Squibb
Co.
2.90%,
7/26/2024
50,000
49,725
0.75%,
11/13/2025
15,000
13,683
3.20%,
6/15/2026
50,000
49,487
3.25%,
2/27/2027
50,000
49,355
Bunge
Ltd.
Finance
Corp.,
1.63%,
8/17/2025
45,000
41,872
Campbell
Soup
Co.,
3.95%,
3/15/2025
10,000
10,056
Cardinal
Health,
Inc.
3.08%,
6/15/2024
50,000
49,559
3.75%,
9/15/2025
25,000
25,023
Cigna
Corp.
3.00%,
7/15/2023
75,000
75,017
3.75%,
7/15/2023
41,000
41,355
3.50%,
6/15/2024
25,000
25,051
3.25%,
4/15/2025
25,000
24,763
4.13%,
11/15/2025
25,000
25,253
1.25%,
3/15/2026
100,000
90,974
Clorox
Co.
(The),
3.50%,
12/15/2024
25,000
25,106
Coca-Cola
Co.
(The),
1.75%,
9/06/2024
25,000
24,499
Coca-Cola
Consolidated,
Inc.,
3.80%,
11/25/2025
25,000
25,076
Commonspirit
Health
2.76%,
10/01/2024
25,000
24,410
1.55%,
10/01/2025
100,000
92,230
ConAgra
Brands,
Inc.,
4.30%,
5/01/2024
25,000
25,298
CVS
Health
Corp.
4.00%,
12/05/2023
10,000
10,135
3.38%,
8/12/2024
75,000
74,862
4.10%,
3/25/2025
60,000
60,833
2.88%,
6/01/2026
50,000
48,210
3.63%,
4/01/2027
25,000
24,596
Equifax,
Inc.
2.60%,
12/01/2024
25,000
24,323
2.60%,
12/15/2025
150,000
143,286
Estee
Lauder
Cos.,
Inc.
(The),
2.00%,
12/01/2024
35,000
34,116
General
Mills,
Inc.
3.65%,
2/15/2024
10,000
10,065
4.00%,
4/17/2025
25,000
25,331
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Consumer,
Non-cyclical
–
13.1%
(continued)
Gilead
Sciences,
Inc.
0.75%,
9/29/2023
74,000
71,582
3.50%,
2/01/2025
25,000
25,027
3.65%,
3/01/2026
125,000
124,193
GlaxoSmithKline
Capital
PLC,
3.00%,
6/01/2024
45,000
44,865
GlaxoSmithKline
Capital,
Inc.,
3.38%,
5/15/2023
50,000
50,390
Global
Payments,
Inc.
2.65%,
2/15/2025
50,000
48,326
4.80%,
4/01/2026
25,000
25,604
2.15%,
1/15/2027
100,000
90,768
GXO
Logistics,
Inc.,
1.65%,
7/15/2026
(a)
100,000
88,715
HCA,
Inc.
5.00%,
3/15/2024
30,000
30,723
5.25%,
4/15/2025
75,000
77,379
5.25%,
6/15/2026
50,000
51,431
Hershey
Co.
(The),
0.90%,
6/01/2025
50,000
46,653
Hormel
Foods
Corp.,
0.65%,
6/03/2024
15,000
14,288
Humana,
Inc.,
3.85%,
10/01/2024
15,000
15,076
Johnson
&
Johnson
3.38%,
12/05/2023
25,000
25,291
0.55%,
9/01/2025
50,000
46,024
2.45%,
3/01/2026
50,000
48,660
Keurig
Dr
Pepper,
Inc.
3.13%,
12/15/2023
25,000
25,046
0.75%,
3/15/2024
60,000
57,294
4.42%,
5/25/2025
6,000
6,123
3.40%,
11/15/2025
25,000
24,762
Kimberly-Clark
Corp.,
3.05%,
8/15/2025
25,000
24,799
Kroger
Co.
(The),
3.50%,
2/01/2026
25,000
24,681
Laboratory
Corp.
of
America
Holdings
3.25%,
9/01/2024
10,000
9,931
3.60%,
2/01/2025
100,000
99,608
McCormick
&
Co.,
Inc.,
0.90%,
2/15/2026
10,000
8,972
McKesson
Corp.,
1.30%,
8/15/2026
50,000
44,900
Medtronic,
Inc.,
3.50%,
3/15/2025
84,000
84,296
Merck
&
Co.,
Inc.
2.80%,
5/18/2023
25,000
25,109
2.90%,
3/07/2024
85,000
84,907
2.75%,
2/10/2025
40,000
39,596
Molson
Coors
Beverage
Co.,
3.00%,
7/15/2026
85,000
81,106
Mondelez
International,
Inc.,
1.50%,
5/04/2025
50,000
47,208
Moody's
Corp.,
3.75%,
3/24/2025
25,000
25,158
Novartis
Capital
Corp.
1.75%,
2/14/2025
50,000
48,206
3.00%,
11/20/2025
50,000
49,591
2.00%,
2/14/2027
75,000
70,457
PayPal
Holdings,
Inc.
2.40%,
10/01/2024
50,000
49,055
1.65%,
6/01/2025
30,000
28,397
2.65%,
10/01/2026
50,000
47,907
PeaceHealth
Obligated
Group,
Series
2020,
1.38%,
11/15/2025
25,000
23,141
PepsiCo,
Inc.
0.75%,
5/01/2023
150,000
147,632
0.40%,
10/07/2023
25,000
24,267
2.25%,
3/19/2025
50,000
48,824
2.38%,
10/06/2026
50,000
48,006
PerkinElmer,
Inc.,
0.85%,
9/15/2024
25,000
23,406
87
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Consumer,
Non-cyclical
–
13.1%
(continued)
Pfizer,
Inc.
3.00%,
6/15/2023
50,000
50,219
3.20%,
9/15/2023
35,000
35,287
3.40%,
5/15/2024
110,000
111,005
2.75%,
6/03/2026
25,000
24,371
3.00%,
12/15/2026
50,000
49,125
Philip
Morris
International,
Inc.
1.13%,
5/01/2023
50,000
49,208
2.88%,
5/01/2024
70,000
69,748
3.25%,
11/10/2024
50,000
49,906
2.75%,
2/25/2026
25,000
24,224
0.88%,
5/01/2026
25,000
22,457
Procter
&
Gamble
Co.
(The)
3.10%,
8/15/2023
10,000
10,087
0.55%,
10/29/2025
50,000
45,953
1.00%,
4/23/2026
25,000
22,904
1.90%,
2/01/2027
50,000
47,091
Quest
Diagnostics,
Inc.,
3.45%,
6/01/2026
100,000
98,372
Reynolds
American,
Inc.,
4.45%,
6/12/2025
90,000
90,687
Royalty
Pharma
PLC,
0.75%,
9/02/2023
25,000
24,188
S&P
Global,
Inc.,
2.45%,
3/01/2027
(a)
50,000
47,124
Shire
Acquisitions
Investments
Ireland
DAC
2.88%,
9/23/2023
40,000
39,897
3.20%,
9/23/2026
75,000
72,391
Stryker
Corp.
0.60%,
12/01/2023
75,000
72,290
3.38%,
11/01/2025
45,000
44,708
3.50%,
3/15/2026
25,000
24,809
SYSCO
Corp.,
3.30%,
7/15/2026
30,000
29,263
Tyson
Foods,
Inc.
3.90%,
9/28/2023
35,000
35,302
4.00%,
3/01/2026
50,000
50,157
Unilever
Capital
Corp.
3.25%,
3/07/2024
10,000
10,031
2.60%,
5/05/2024
125,000
123,801
UnitedHealth
Group,
Inc.
2.38%,
8/15/2024
50,000
49,265
3.75%,
7/15/2025
25,000
25,247
1.25%,
1/15/2026
50,000
46,159
1.15%,
5/15/2026
(b)
65,000
59,328
3.38%,
4/15/2027
75,000
74,154
Utah
Acquisition
Sub,
Inc.,
3.95%,
6/15/2026
35,000
34,007
Verisk
Analytics,
Inc.,
4.00%,
6/15/2025
50,000
50,256
Viatris
,
Inc.,
1.65%,
6/22/2025
30,000
27,531
Zimmer
Biomet
Holdings,
Inc.,
3.05%,
1/15/2026
100,000
96,976
Zoetis,
Inc.,
4.50%,
11/13/2025
100,000
102,866
7,207,747
Energy
–
6.3%
Baker
Hughes
Holdings
LLC
/
Baker
Hughes
Co.-Obligor,
Inc.
1.23%,
12/15/2023
25,000
24,255
2.06%,
12/15/2026
75,000
69,523
BP
Capital
Markets
America,
Inc.
2.75%,
5/10/2023
10,000
10,011
3.79%,
2/06/2024
10,000
10,086
3.19%,
4/06/2025
25,000
24,766
3.41%,
2/11/2026
25,000
24,711
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Energy
–
6.3%
(continued)
3.12%,
5/04/2026
50,000
48,813
3.54%,
4/06/2027
100,000
98,382
BP
Capital
Markets
PLC
3.81%,
2/10/2024
15,000
15,150
3.51%,
3/17/2025
50,000
50,003
Canadian
Natural
Resources
Ltd.,
2.05%,
7/15/2025
30,000
28,280
Cenovus
Energy,
Inc.,
5.38%,
7/15/2025
25,000
25,958
Cheniere
Corpus
Christi
Holdings
LLC,
5.88%,
3/31/2025
75,000
78,053
Chevron
Corp.
1.14%,
5/11/2023
150,000
148,021
2.90%,
3/03/2024
25,000
24,984
1.55%,
5/11/2025
100,000
94,888
2.95%,
5/16/2026
25,000
24,464
Chevron
USA,
Inc.
0.43%,
8/11/2023
25,000
24,347
3.90%,
11/15/2024
10,000
10,143
0.69%,
8/12/2025
25,000
22,990
Columbia
Pipeline
Group,
Inc.,
4.50%,
6/01/2025
15,000
15,297
Continental
Resources,
Inc.,
3.80%,
6/01/2024
75,000
75,088
Devon
Energy
Corp.,
5.25%,
9/15/2024
25,000
25,784
Enbridge,
Inc.
3.50%,
6/10/2024
50,000
49,987
2.50%,
1/15/2025
10,000
9,682
Energy
Transfer
LP
5.88%,
1/15/2024
70,000
72,122
4.90%,
2/01/2024
10,000
10,145
4.50%,
4/15/2024
75,000
75,815
4.05%,
3/15/2025
35,000
34,797
2.90%,
5/15/2025
50,000
48,255
Energy
Transfer
LP
/
Regency
Energy
Finance
Corp.,
4.50%,
11/01/2023
20,000
20,155
Enterprise
Products
Operating
LLC
3.90%,
2/15/2024
25,000
25,218
3.75%,
2/15/2025
25,000
25,057
3.70%,
2/15/2026
75,000
74,432
EOG
Resources,
Inc.,
4.15%,
1/15/2026
50,000
51,031
Exxon
Mobil
Corp.
2.02%,
8/16/2024
65,000
63,678
2.71%,
3/06/2025
25,000
24,626
2.99%,
3/19/2025
150,000
148,681
Halliburton
Co.,
3.80%,
11/15/2025
39,000
39,196
HF
Sinclair
Corp.,
5.88%,
4/01/2026
(a)
50,000
51,628
Kinder
Morgan
Energy
Partners
LP
4.30%,
5/01/2024
25,000
25,282
4.25%,
9/01/2024
100,000
101,063
Marathon
Petroleum
Corp.,
3.63%,
9/15/2024
50,000
49,757
MPLX
LP
4.50%,
7/15/2023
50,000
50,555
4.88%,
12/01/2024
20,000
20,399
4.88%,
6/01/2025
25,000
25,514
1.75%,
3/01/2026
25,000
22,816
4.13%,
3/01/2027
50,000
49,546
ONEOK,
Inc.
2.75%,
9/01/2024
25,000
24,361
2.20%,
9/15/2025
50,000
46,848
88
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Energy
–
6.3%
(continued)
Ovintiv
Exploration,
Inc.
5.63%,
7/01/2024
25,000
25,984
5.38%,
1/01/2026
50,000
51,816
Phillips
66
3.85%,
4/09/2025
70,000
70,405
1.30%,
2/15/2026
10,000
9,121
Phillips
66
Partners
LP,
2.45%,
12/15/2024
45,000
43,492
Pioneer
Natural
Resources
Co.
0.55%,
5/15/2023
10,000
9,756
1.13%,
1/15/2026
25,000
22,631
Plains
All
American
Pipeline
LP
/
PAA
Finance
Corp.
3.60%,
11/01/2024
25,000
24,708
4.65%,
10/15/2025
25,000
25,247
4.50%,
12/15/2026
50,000
50,026
Sabine
Pass
Liquefaction
LLC
5.63%,
3/01/2025
67,000
69,487
5.88%,
6/30/2026
50,000
52,548
5.00%,
3/15/2027
100,000
102,334
Schlumberger
Finance
Canada
Ltd.,
1.40%,
9/17/2025
20,000
18,740
Shell
International
Finance
BV
0.38%,
9/15/2023
20,000
19,395
3.50%,
11/13/2023
50,000
50,470
2.00%,
11/07/2024
75,000
73,164
3.25%,
5/11/2025
100,000
99,630
Spectra
Energy
Partners
LP
4.75%,
3/15/2024
50,000
51,039
3.38%,
10/15/2026
75,000
72,889
Suncor
Energy,
Inc.,
3.10%,
5/15/2025
50,000
49,043
Totalenergies
Capital
International
SA,
3.75%,
4/10/2024
95,000
95,946
Transcanada
Pipelines
Ltd.
3.75%,
10/16/2023
25,000
25,178
1.00%,
10/12/2024
25,000
23,456
Transcontinental
Gas
Pipe
Line
Co.
LLC,
7.85%,
2/01/2026
25,000
28,046
Valero
Energy
Corp.,
2.85%,
4/15/2025
7,000
6,808
Williams
Cos.,
Inc.
(The)
4.50%,
11/15/2023
10,000
10,133
4.55%,
6/24/2024
10,000
10,140
4.00%,
9/15/2025
25,000
24,869
3,431,144
Financial
–
45.7%
Aercap
Ireland
Capital
DAC
/
Aercap
Global
Aviation
Trust
4.13%,
7/03/2023
150,000
149,781
2.88%,
8/14/2024
125,000
120,115
6.50%,
7/15/2025
50,000
51,879
2.45%,
10/29/2026
150,000
133,715
Aflac,
Inc.
3.63%,
11/15/2024
25,000
25,184
3.25%,
3/17/2025
50,000
49,712
Air
Lease
Corp.
0.70%,
2/15/2024
50,000
47,376
2.30%,
2/01/2025
50,000
47,392
3.25%,
3/01/2025
25,000
24,209
2.88%,
1/15/2026
50,000
46,921
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
1.88%,
8/15/2026
35,000
31,243
Aircastle
Ltd.,
4.13%,
5/01/2024
50,000
49,712
Alexandria
Real
Estate
Equities,
Inc.,
3.80%,
4/15/2026
25,000
24,855
Allstate
Corp.
(The)
3.15%,
6/15/2023
50,000
50,211
0.75%,
12/15/2025
25,000
22,763
Ally
Financial,
Inc.
3.05%,
6/05/2023
125,000
124,756
1.45%,
10/02/2023
25,000
24,300
5.13%,
9/30/2024
25,000
25,764
American
Campus
Communities
Operating
Partnership
LP,
3.30%,
7/15/2026
25,000
24,663
American
Express
Co.
3.40%,
2/22/2024
50,000
50,100
2.50%,
7/30/2024
100,000
98,023
3.63%,
12/05/2024
25,000
25,101
3.13%,
5/20/2026
25,000
24,531
1.65%,
11/04/2026
25,000
22,898
2.55%,
3/04/2027
100,000
94,250
American
Financial
Group,
Inc.,
3.50%,
8/15/2026
25,000
24,724
American
International
Group,
Inc.
2.50%,
6/30/2025
75,000
72,219
3.90%,
4/01/2026
50,000
49,755
American
Tower
Corp.
3.00%,
6/15/2023
35,000
34,961
0.60%,
1/15/2024
20,000
19,089
2.40%,
3/15/2025
(b)
50,000
48,012
4.00%,
6/01/2025
25,000
24,985
1.30%,
9/15/2025
25,000
22,847
4.40%,
2/15/2026
25,000
25,182
2.75%,
1/15/2027
50,000
46,509
Ameriprise
Financial,
Inc.
3.70%,
10/15/2024
50,000
50,323
3.00%,
4/02/2025
50,000
49,320
Aon
PLC,
3.88%,
12/15/2025
25,000
25,145
Ares
Capital
Corp.
4.20%,
6/10/2024
25,000
25,013
4.25%,
3/01/2025
35,000
34,462
3.25%,
7/15/2025
50,000
47,621
Assurant,
Inc.,
4.20%,
9/27/2023
75,000
75,918
Assured
Guaranty
US
Holdings,
Inc.,
5.00%,
7/01/2024
(b)
25,000
25,486
AvalonBay
Communities,
Inc.,
Series
G,
2.95%,
5/11/2026
50,000
48,347
Bain
Capital
Specialty
Finance,
Inc.
2.95%,
3/10/2026
25,000
22,899
2.55%,
10/13/2026
50,000
43,992
Banco
Santander
SA
2.75%,
5/28/2025
200,000
191,048
1.85%,
3/25/2026
100,000
90,956
Bank
of
America
Corp.
4.10%,
7/24/2023
25,000
25,406
4.13%,
1/22/2024
150,000
152,179
1.49%,
5/19/2024
25,000
24,547
0.52%,
6/14/2024
200,000
193,438
3.86%,
7/23/2024
150,000
150,340
0.81%,
10/24/2024
150,000
144,041
89
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
3.46%,
3/15/2025
75,000
74,416
0.98%,
4/22/2025
25,000
23,633
3.88%,
8/01/2025
80,000
80,412
1.53%,
12/06/2025
200,000
187,483
3.37%,
1/23/2026
25,000
24,460
2.02%,
2/13/2026
100,000
94,574
4.45%,
3/03/2026
100,000
100,285
1.32%,
6/19/2026
100,000
91,641
4.25%,
10/22/2026
100,000
99,963
1.20%,
10/24/2026
150,000
135,424
Series
N,
1.66%,
3/11/2027
75,000
67,992
3.56%,
4/23/2027
75,000
72,867
1.73%,
7/22/2027
125,000
112,196
3.82%,
1/20/2028
100,000
97,237
Bank
of
Montreal
0.45%,
12/08/2023
25,000
23,972
Series
E,
3.30%,
2/05/2024
50,000
50,065
1.85%,
5/01/2025
50,000
47,468
1.25%,
9/15/2026
185,000
165,252
Bank
of
Nova
Scotia
(The)
1.63%,
5/01/2023
100,000
98,892
3.40%,
2/11/2024
75,000
75,132
1.30%,
6/11/2025
30,000
27,844
1.05%,
3/02/2026
100,000
89,777
1.30%,
9/15/2026
100,000
89,471
BankUnited
,
Inc.,
4.88%,
11/17/2025
25,000
25,808
Barclays
PLC
4.34%,
5/16/2024
25,000
25,213
3.65%,
3/16/2025
100,000
98,580
4.38%,
1/12/2026
50,000
49,864
5.20%,
5/12/2026
250,000
253,173
Barings
BDC,
Inc.,
3.30%,
11/23/2026
(a)
25,000
22,453
Berkshire
Hathaway,
Inc.,
3.13%,
3/15/2026
100,000
99,261
BGC
Partners,
Inc.,
3.75%,
10/01/2024
25,000
24,790
BlackRock,
Inc.,
3.50%,
3/18/2024
25,000
25,217
Blackstone
Private
Credit
Fund
2.35%,
11/22/2024
(a)
25,000
23,585
3.25%,
3/15/2027
(a)
75,000
67,230
Blackstone
Secured
Lending
Fund,
2.75%,
9/16/2026
75,000
68,634
Boston
Properties
LP
3.20%,
1/15/2025
100,000
98,620
3.65%,
2/01/2026
50,000
49,396
Brixmor
Operating
Partnership
LP
3.65%,
6/15/2024
80,000
79,671
3.85%,
2/01/2025
25,000
24,971
Brookfield
Finance,
Inc.,
4.00%,
4/01/2024
50,000
50,449
Canadian
Imperial
Bank
of
Commerce
0.45%,
6/22/2023
25,000
24,355
0.95%,
6/23/2023
55,000
53,860
2.25%,
1/28/2025
125,000
120,394
0.95%,
10/23/2025
25,000
22,705
1.25%,
6/22/2026
25,000
22,324
Capital
One
Financial
Corp.
3.90%,
1/29/2024
100,000
100,525
3.75%,
4/24/2024
25,000
25,040
3.30%,
10/30/2024
50,000
49,431
4.25%,
4/30/2025
25,000
25,105
4.20%,
10/29/2025
25,000
24,965
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
3.75%,
7/28/2026
25,000
24,411
1.88%,
11/02/2027
100,000
89,236
Charles
Schwab
Corp.
(The)
3.75%,
4/01/2024
35,000
35,304
0.90%,
3/11/2026
175,000
158,395
1.15%,
5/13/2026
15,000
13,609
Chubb
INA
Holdings,
Inc.,
3.35%,
5/15/2024
65,000
65,230
Citigroup,
Inc.
3.88%,
10/25/2023
25,000
25,347
1.68%,
5/15/2024
50,000
49,278
4.04%,
6/01/2024
25,000
25,138
3.75%,
6/16/2024
50,000
50,367
4.00%,
8/05/2024
45,000
45,291
3.35%,
4/24/2025
150,000
147,826
3.30%,
4/27/2025
50,000
49,437
4.40%,
6/10/2025
125,000
125,957
5.50%,
9/13/2025
115,000
119,977
3.70%,
1/12/2026
75,000
74,174
4.60%,
3/09/2026
50,000
50,377
3.11%,
4/08/2026
100,000
96,914
3.20%,
10/21/2026
50,000
48,178
1.12%,
1/28/2027
25,000
22,310
1.46%,
6/09/2027
75,000
66,737
3.89%,
1/10/2028
100,000
97,466
3.07%,
2/24/2028
125,000
117,639
Citizens
Financial
Group,
Inc.,
2.85%,
7/27/2026
50,000
48,127
CME
Group,
Inc.,
3.00%,
3/15/2025
75,000
74,383
CNA
Financial
Corp.,
3.95%,
5/15/2024
50,000
50,268
Comerica,
Inc.,
3.70%,
7/31/2023
100,000
100,654
Cooperatieve
Rabobank
UA,
3.75%,
7/21/2026
250,000
243,027
Credit
Suisse
AG,
1.25%,
8/07/2026
250,000
221,104
Credit
Suisse
Group
AG,
3.75%,
3/26/2025
275,000
270,077
Crown
Castle
International
Corp.
3.20%,
9/01/2024
105,000
104,032
1.05%,
7/15/2026
50,000
44,188
Deutsche
Bank
AG
0.90%,
5/28/2024
100,000
94,397
4.10%,
1/13/2026
25,000
24,772
1.69%,
3/19/2026
100,000
91,313
2.31%,
11/16/2027
150,000
132,803
Discover
Bank,
4.68%,
8/09/2028
250,000
252,315
Discover
Financial
Services,
4.50%,
1/30/2026
25,000
25,242
EPR
Properties,
4.50%,
4/01/2025
25,000
24,926
Equinix
,
Inc.
2.63%,
11/18/2024
10,000
9,730
1.25%,
7/15/2025
30,000
27,577
1.00%,
9/15/2025
35,000
31,773
1.45%,
5/15/2026
35,000
31,547
ERP
Operating
LP,
3.38%,
6/01/2025
20,000
19,804
Essex
Portfolio
LP
3.25%,
5/01/2023
13,000
13,015
3.88%,
5/01/2024
25,000
25,118
Fifth
Third
Bancorp
1.63%,
5/05/2023
75,000
73,991
3.65%,
1/25/2024
170,000
170,491
Franklin
Resources,
Inc.,
2.85%,
3/30/2025
50,000
49,102
FS
KKR
Capital
Corp.,
3.40%,
1/15/2026
100,000
94,298
90
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
GLP
Capital
LP
/
GLP
Financing
II,
Inc.
5.38%,
11/01/2023
60,000
60,845
5.25%,
6/01/2025
25,000
25,430
5.38%,
4/15/2026
85,000
86,670
Goldman
Sachs
BDC,
Inc.,
3.75%,
2/10/2025
25,000
24,773
Goldman
Sachs
Group,
Inc.
(The)
3.63%,
2/20/2024
35,000
35,056
4.00%,
3/03/2024
50,000
50,465
3.85%,
7/08/2024
25,000
25,154
3.50%,
1/23/2025
50,000
49,579
1.76%,
1/24/2025
200,000
193,308
3.50%,
4/01/2025
50,000
49,400
3.75%,
5/22/2025
75,000
74,695
4.25%,
10/21/2025
110,000
110,349
0.86%,
2/12/2026
135,000
123,238
3.50%,
11/16/2026
200,000
195,328
1.09%,
12/09/2026
50,000
44,757
1.43%,
3/09/2027
50,000
44,713
1.54%,
9/10/2027
25,000
22,080
1.95%,
10/21/2027
150,000
134,686
2.64%,
2/24/2028
200,000
184,079
Golub
Capital
BDC,
Inc.,
2.50%,
8/24/2026
25,000
22,299
Hanover
Insurance
Group,
Inc.
(The),
4.50%,
4/15/2026
50,000
51,160
Healthpeak
Properties,
Inc.,
4.00%,
6/01/2025
20,000
20,151
Host
Hotels
&
Resorts
LP
3.88%,
4/01/2024
25,000
24,938
Series
E,
4.00%,
6/15/2025
20,000
19,831
HSBC
Holdings
PLC
4.29%,
9/12/2026
500,000
497,174
1.59%,
5/24/2027
200,000
177,813
HSBC
USA,
Inc.,
3.50%,
6/23/2024
150,000
150,060
Huntington
Bancshares,
Inc.,
2.63%,
8/06/2024
100,000
98,147
ING
Groep
NV
4.10%,
10/02/2023
75,000
75,740
4.02%,
3/28/2028
250,000
242,786
Intercontinental
Exchange,
Inc.
0.70%,
6/15/2023
100,000
97,781
3.75%,
12/01/2025
25,000
25,096
Invesco
Finance
PLC,
3.75%,
1/15/2026
25,000
24,963
JPMorgan
Chase
&
Co.
3.38%,
5/01/2023
50,000
50,270
3.88%,
2/01/2024
25,000
25,344
3.63%,
5/13/2024
125,000
126,040
1.51%,
6/01/2024
150,000
147,567
3.80%,
7/23/2024
25,000
25,100
3.88%,
9/10/2024
150,000
150,753
4.02%,
12/05/2024
50,000
50,225
3.13%,
1/23/2025
50,000
49,517
0.56%,
2/16/2025
25,000
23,689
3.22%,
3/01/2025
130,000
128,701
0.82%,
6/01/2025
30,000
28,235
3.90%,
7/15/2025
40,000
40,210
2.30%,
10/15/2025
60,000
57,615
2.01%,
3/13/2026
125,000
117,825
2.08%,
4/22/2026
50,000
47,057
3.20%,
6/15/2026
50,000
48,810
2.95%,
10/01/2026
100,000
95,860
1.05%,
11/19/2026
50,000
44,906
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
4.13%,
12/15/2026
100,000
99,463
3.96%,
1/29/2027
50,000
49,488
1.04%,
2/04/2027
50,000
44,528
1.58%,
4/22/2027
50,000
45,216
1.47%,
9/22/2027
100,000
88,894
3.78%,
2/01/2028
100,000
97,183
4.32%,
4/26/2028
150,000
149,679
KeyCorp,
4.15%,
10/29/2025
75,000
75,835
Kimco
Realty
Corp.,
2.80%,
10/01/2026
50,000
47,513
Lincoln
National
Corp.,
3.35%,
3/09/2025
25,000
24,701
Lloyds
Banking
Group
PLC
4.45%,
5/08/2025
250,000
252,471
4.65%,
3/24/2026
100,000
99,990
Loews
Corp.,
3.75%,
4/01/2026
50,000
50,294
M&T
Bank
Corp.,
3.55%,
7/26/2023
150,000
150,844
Main
Street
Capital
Corp.,
5.20%,
5/01/2024
25,000
25,320
Manulife
Financial
Corp.,
4.15%,
3/04/2026
25,000
25,316
Marsh
&
McLennan
Cos.,
Inc.,
3.88%,
3/15/2024
25,000
25,284
Mastercard
,
Inc.
3.38%,
4/01/2024
25,000
25,236
3.30%,
3/26/2027
100,000
99,297
MetLife,
Inc.,
Series
D,
4.37%,
9/15/2023
50,000
51,035
MID-America
Apartments
LP
4.00%,
11/15/2025
25,000
25,164
1.10%,
9/15/2026
35,000
31,246
Mitsubishi
UFJ
Financial
Group,
Inc.
3.76%,
7/26/2023
85,000
85,808
3.41%,
3/07/2024
100,000
99,927
0.85%,
9/15/2024
50,000
48,218
3.78%,
3/02/2025
200,000
201,027
2.34%,
1/19/2028
200,000
183,436
Mizuho
Financial
Group,
Inc.,
2.23%,
5/25/2026
200,000
189,096
Morgan
Stanley
4.10%,
5/22/2023
25,000
25,260
Series
F,
3.88%,
4/29/2024
200,000
201,438
3.70%,
10/23/2024
75,000
75,186
0.79%,
5/30/2025
50,000
46,759
2.72%,
7/22/2025
50,000
48,690
4.00%,
7/23/2025
65,000
65,098
Series
I,
0.86%,
10/21/2025
25,000
23,210
1.16%,
10/21/2025
225,000
210,239
5.00%,
11/24/2025
125,000
128,323
3.88%,
1/27/2026
60,000
59,572
2.19%,
4/28/2026
75,000
70,820
3.13%,
7/27/2026
75,000
71,893
Series
G,
4.35%,
9/08/2026
75,000
75,102
0.99%,
12/10/2026
50,000
44,648
3.63%,
1/20/2027
50,000
48,780
1.59%,
5/04/2027
50,000
45,107
1.51%,
7/20/2027
75,000
66,956
2.48%,
1/21/2028
100,000
92,051
National
Australia
Bank
Ltd.,
2.50%,
7/12/2026
50,000
47,737
National
Retail
Properties,
Inc.,
4.00%,
11/15/2025
25,000
25,170
NatWest
Group
PLC
4.52%,
6/25/2024
50,000
50,443
4.80%,
4/05/2026
25,000
25,244
3.75%,
11/01/2029
200,000
195,887
Nomura
Holdings,
Inc.,
2.33%,
1/22/2027
200,000
182,115
91
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
Northern
Trust
Corp.,
3.95%,
10/30/2025
25,000
25,337
Office
Properties
Income
Trust
4.50%,
2/01/2025
20,000
19,828
2.65%,
6/15/2026
25,000
22,521
OMEGA
Healthcare
Investors,
Inc.,
4.50%,
1/15/2025
35,000
35,032
Owl
Rock
Capital
Corp.
4.00%,
3/30/2025
50,000
48,779
3.75%,
7/22/2025
35,000
33,578
4.25%,
1/15/2026
25,000
24,276
3.40%,
7/15/2026
25,000
23,090
PNC
Financial
Services
Group,
Inc.
(The)
2.20%,
11/01/2024
75,000
73,195
2.60%,
7/23/2026
100,000
96,037
1.15%,
8/13/2026
50,000
45,313
Principal
Financial
Group,
Inc.,
3.10%,
11/15/2026
50,000
48,132
Prospect
Capital
Corp.,
3.71%,
1/22/2026
50,000
46,449
Prudential
Financial,
Inc.,
1.50%,
3/10/2026
100,000
92,961
Public
Storage,
1.50%,
11/09/2026
(b)
50,000
45,738
Realty
Income
Corp.
4.60%,
2/06/2024
25,000
25,466
3.88%,
4/15/2025
25,000
25,112
4.63%,
11/01/2025
75,000
76,957
Regions
Financial
Corp.,
2.25%,
5/18/2025
50,000
48,009
Royal
Bank
of
Canada
3.70%,
10/05/2023
50,000
50,548
0.50%,
10/26/2023
25,000
24,133
2.25%,
11/01/2024
100,000
97,163
1.15%,
6/10/2025
30,000
27,745
1.20%,
4/27/2026
35,000
31,603
Series
G,
1.15%,
7/14/2026
35,000
31,380
Series
G,
1.40%,
11/02/2026
100,000
90,016
Sabra
Health
Care
LP,
5.13%,
8/15/2026
50,000
50,087
Santander
Holdings
USA,
Inc.
3.50%,
6/07/2024
25,000
24,867
4.50%,
7/17/2025
40,000
40,352
3.24%,
10/05/2026
50,000
47,693
Santander
UK
Group
Holdings
PLC,
1.53%,
8/21/2026
50,000
45,435
Santander
UK
PLC,
4.00%,
3/13/2024
100,000
101,083
Simon
Property
Group
LP
2.75%,
6/01/2023
75,000
74,923
3.38%,
10/01/2024
25,000
24,959
3.50%,
9/01/2025
25,000
24,816
3.30%,
1/15/2026
50,000
49,221
Site
Centers
Corp.,
3.63%,
2/01/2025
50,000
49,355
State
Street
Corp.
3.70%,
11/20/2023
25,000
25,277
3.78%,
12/03/2024
25,000
25,221
3.55%,
8/18/2025
30,000
30,057
2.35%,
11/01/2025
50,000
48,552
2.65%,
5/19/2026
25,000
24,301
1.68%,
11/18/2027
25,000
22,867
Stifel
Financial
Corp.,
4.25%,
7/18/2024
25,000
25,240
Sumitomo
Mitsui
Financial
Group,
Inc.
3.75%,
7/19/2023
150,000
151,199
2.35%,
1/15/2025
200,000
192,214
3.78%,
3/09/2026
50,000
49,398
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
2.63%,
7/14/2026
100,000
94,524
3.01%,
10/19/2026
50,000
47,779
Synchrony
Financial
4.38%,
3/19/2024
125,000
125,784
4.50%,
7/23/2025
40,000
40,169
3.70%,
8/04/2026
50,000
48,171
Toronto-Dominion
Bank
(The)
0.75%,
6/12/2023
30,000
29,359
0.45%,
9/11/2023
25,000
24,205
0.55%,
3/04/2024
35,000
33,366
3.25%,
3/11/2024
50,000
50,035
2.65%,
6/12/2024
100,000
98,846
0.70%,
9/10/2024
50,000
47,102
1.15%,
6/12/2025
30,000
27,859
0.75%,
9/11/2025
50,000
45,538
1.25%,
9/10/2026
35,000
31,381
1.95%,
1/12/2027
100,000
91,837
Trinity
Acquisition
PLC,
4.40%,
3/15/2026
50,000
50,259
Truist
Bank
2.15%,
12/06/2024
50,000
48,545
3.63%,
9/16/2025
100,000
99,523
Truist
Financial
Corp.
2.85%,
10/26/2024
50,000
49,402
3.70%,
6/05/2025
30,000
30,076
1.20%,
8/05/2025
80,000
74,272
1.27%,
3/02/2027
25,000
22,731
US
Bancorp
3.70%,
1/30/2024
75,000
75,781
3.38%,
2/05/2024
100,000
100,387
3.60%,
9/11/2024
25,000
25,133
3.95%,
11/17/2025
50,000
50,782
Series
V,
2.38%,
7/22/2026
25,000
23,819
US
Bank
NA,
2.80%,
1/27/2025
100,000
98,782
Ventas
Realty
LP
3.50%,
4/15/2024
50,000
49,879
2.65%,
1/15/2025
25,000
24,258
Visa,
Inc.
3.15%,
12/14/2025
50,000
49,686
1.90%,
4/15/2027
100,000
93,066
Vornado
Realty
LP,
2.15%,
6/01/2026
75,000
68,263
Voya
Financial,
Inc.,
3.65%,
6/15/2026
50,000
49,232
Wells
Fargo
&
Co.
4.13%,
8/15/2023
100,000
101,172
1.65%,
6/02/2024
75,000
73,735
3.30%,
9/09/2024
50,000
49,809
3.00%,
2/19/2025
25,000
24,573
0.81%,
5/19/2025
15,000
14,124
3.55%,
9/29/2025
50,000
49,673
2.41%,
10/30/2025
50,000
48,071
2.16%,
2/11/2026
285,000
270,338
3.00%,
4/22/2026
50,000
48,064
2.19%,
4/30/2026
175,000
165,330
3.00%,
10/23/2026
100,000
95,528
3.20%,
6/17/2027
100,000
95,762
3.53%,
3/24/2028
50,000
48,136
Welltower
,
Inc.
4.00%,
6/01/2025
20,000
20,060
4.25%,
4/01/2026
65,000
65,645
92
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Financial
–
45.7%
(continued)
Western
Union
Co.
(The),
2.85%,
1/10/2025
50,000
48,527
Westpac
Banking
Corp.
3.65%,
5/15/2023
125,000
126,311
3.30%,
2/26/2024
50,000
50,243
1.02%,
11/18/2024
100,000
94,814
1.15%,
6/03/2026
50,000
45,290
2.70%,
8/19/2026
40,000
38,430
25,077,451
Industrial
–
6.6%
3M
Co.
3.25%,
2/14/2024
40,000
40,213
2.00%,
2/14/2025
75,000
72,518
2.25%,
9/19/2026
25,000
23,762
Amcor
Finance
USA,
Inc.,
3.63%,
4/28/2026
50,000
49,375
Arrow
Electronics,
Inc.,
3.25%,
9/08/2024
65,000
64,302
Berry
Global,
Inc.,
0.95%,
2/15/2024
50,000
47,741
Boeing
Co.
(The)
4.51%,
5/01/2023
40,000
40,473
1.95%,
2/01/2024
50,000
48,677
4.88%,
5/01/2025
70,000
70,852
2.75%,
2/01/2026
125,000
118,187
2.20%,
2/04/2026
275,000
251,244
Burlington
Northern
Santa
Fe
LLC
3.85%,
9/01/2023
20,000
20,220
3.75%,
4/01/2024
50,000
50,639
3.65%,
9/01/2025
15,000
15,129
Carrier
Global
Corp.,
2.24%,
2/15/2025
7,000
6,706
Caterpillar
Financial
Services
Corp.
0.45%,
9/14/2023
50,000
48,430
3.75%,
11/24/2023
60,000
60,781
0.45%,
5/17/2024
20,000
18,981
3.25%,
12/01/2024
123,000
123,431
0.80%,
11/13/2025
25,000
22,862
1.15%,
9/14/2026
50,000
45,313
CNH
Industrial
Capital
LLC
1.95%,
7/02/2023
75,000
73,928
1.88%,
1/15/2026
25,000
23,242
CSX
Corp.,
3.35%,
11/01/2025
25,000
24,760
FedEx
Corp.,
3.25%,
4/01/2026
25,000
24,602
Flex
Ltd.,
4.75%,
6/15/2025
20,000
20,344
GATX
Corp.
4.35%,
2/15/2024
50,000
50,654
3.25%,
9/15/2026
50,000
48,560
General
Dynamics
Corp.
3.38%,
5/15/2023
225,000
226,743
2.38%,
11/15/2024
25,000
24,486
3.25%,
4/01/2025
25,000
24,932
3.50%,
5/15/2025
15,000
15,049
Honeywell
International,
Inc.
1.35%,
6/01/2025
25,000
23,664
2.50%,
11/01/2026
50,000
48,078
Huntington
Ingalls
Industries,
Inc.,
0.67%,
8/16/2023
(a)
60,000
58,024
Jabil,
Inc.,
1.70%,
4/15/2026
25,000
22,580
JB
Hunt
Transport
Services,
Inc.,
3.88%,
3/01/2026
50,000
49,977
John
Deere
Capital
Corp.
0.70%,
7/05/2023
10,000
9,761
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Industrial
–
6.6%
(continued)
0.40%,
10/10/2023
15,000
14,518
2.65%,
6/24/2024
90,000
89,291
2.65%,
6/10/2026
25,000
24,244
1.05%,
6/17/2026
25,000
22,738
2.25%,
9/14/2026
25,000
23,766
1.30%,
10/13/2026
25,000
22,813
1.75%,
3/09/2027
50,000
45,967
L3harris
Technologies,
Inc.,
3.85%,
6/15/2023
75,000
75,653
Legrand
France
SA,
8.50%,
2/15/2025
50,000
56,214
Lockheed
Martin
Corp.,
3.55%,
1/15/2026
50,000
50,392
Norfolk
Southern
Corp.
3.85%,
1/15/2024
10,000
10,089
3.65%,
8/01/2025
25,000
25,003
Northrop
Grumman
Corp.,
2.93%,
1/15/2025
75,000
73,765
Otis
Worldwide
Corp.,
2.06%,
4/05/2025
25,000
23,846
Owens
Corning,
3.40%,
8/15/2026
25,000
24,520
Packaging
Corp.
of
America,
3.65%,
9/15/2024
40,000
40,063
Raytheon
Technologies
Corp.
3.20%,
3/15/2024
20,000
20,031
3.95%,
8/16/2025
150,000
151,782
Republic
Services,
Inc.
2.50%,
8/15/2024
30,000
29,355
0.88%,
11/15/2025
125,000
113,150
Ryder
System,
Inc.
3.75%,
6/09/2023
25,000
25,146
2.50%,
9/01/2024
25,000
24,344
3.35%,
9/01/2025
25,000
24,533
Stanley
Black
&
Decker,
Inc.,
4.00%,
3/15/2060
25,000
24,040
Teledyne
Technologies,
Inc.,
1.60%,
4/01/2026
25,000
22,659
Trane
Technologies
Luxembourg
Finance
SA,
3.50%,
3/21/2026
50,000
49,280
Trimble,
Inc.,
4.15%,
6/15/2023
10,000
10,072
Tyco
Electronics
Group
SA,
3.70%,
2/15/2026
100,000
100,367
Union
Pacific
Corp.
3.65%,
2/15/2024
32,000
32,267
3.15%,
3/01/2024
25,000
24,987
2.75%,
3/01/2026
50,000
48,423
United
Parcel
Service,
Inc.
2.20%,
9/01/2024
15,000
14,695
2.80%,
11/15/2024
25,000
24,828
Vontier
Corp.,
1.80%,
4/01/2026
50,000
44,419
Vulcan
Materials
Co.,
4.50%,
4/01/2025
25,000
25,570
Waste
Management,
Inc.,
0.75%,
11/15/2025
25,000
22,820
Westinghouse
Air
Brake
Technologies
Corp.,
3.20%,
6/15/2025
75,000
72,738
WRKCo
,
Inc.
3.00%,
9/15/2024
40,000
39,490
3.75%,
3/15/2025
25,000
25,046
3,602,144
Technology
–
8.3%
Adobe,
Inc.,
2.15%,
2/01/2027
75,000
70,690
Altera
Corp.,
4.10%,
11/15/2023
75,000
76,111
Analog
Devices,
Inc.,
2.95%,
4/01/2025
50,000
49,374
Apple,
Inc.
2.40%,
5/03/2023
135,000
135,206
0.75%,
5/11/2023
250,000
246,191
2.85%,
5/11/2024
25,000
24,987
1.80%,
9/11/2024
100,000
97,564
2.50%,
2/09/2025
50,000
49,301
93
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Technology
–
8.3%
(continued)
1.13%,
5/11/2025
75,000
70,739
3.20%,
5/13/2025
50,000
50,129
0.55%,
8/20/2025
(b)
25,000
22,993
0.70%,
2/08/2026
25,000
22,831
3.25%,
2/23/2026
75,000
74,871
2.45%,
8/04/2026
35,000
33,765
2.05%,
9/11/2026
50,000
47,384
3.35%,
2/09/2027
50,000
49,801
Applied
Materials,
Inc.,
3.30%,
4/01/2027
50,000
49,324
AutoDesk
,
Inc.,
4.38%,
6/15/2025
25,000
25,375
Broadcom
Corp.
/
Broadcom
Cayman
Finance
Ltd.,
3.63%,
1/15/2024
50,000
50,268
Broadcom,
Inc.
3.63%,
10/15/2024
45,000
45,013
3.15%,
11/15/2025
25,000
24,369
3.46%,
9/15/2026
(b)
75,000
73,041
CDW
LLC
/
CDW
Finance
Corp.,
4.13%,
5/01/2025
50,000
49,244
Citrix
Systems,
Inc.,
1.25%,
3/01/2026
90,000
88,158
Dell
International
LLC
/
EMC
Corp.
4.00%,
7/15/2024
70,000
70,463
5.85%,
7/15/2025
25,000
26,261
6.02%,
6/15/2026
100,000
105,793
4.90%,
10/01/2026
50,000
51,001
Electronic
Arts,
Inc.,
4.80%,
3/01/2026
20,000
20,676
Fidelity
National
Information
Services,
Inc.,
1.15%,
3/01/2026
35,000
31,558
Fiserv,
Inc.
3.80%,
10/01/2023
35,000
35,308
2.75%,
7/01/2024
110,000
108,154
3.20%,
7/01/2026
25,000
24,237
Genpact
Luxembourg
Sarl
,
3.38%,
12/01/2024
10,000
9,929
Hewlett
Packard
Enterprise
Co.
4.45%,
10/02/2023
10,000
10,151
1.45%,
4/01/2024
25,000
24,077
4.90%,
10/15/2025
25,000
25,837
1.75%,
4/01/2026
100,000
92,225
HP,
Inc.,
2.20%,
6/17/2025
70,000
66,503
Intel
Corp.
3.40%,
3/25/2025
25,000
25,045
3.70%,
7/29/2025
60,000
60,547
International
Business
Machines
Corp.
3.38%,
8/01/2023
25,000
25,208
3.00%,
5/15/2024
150,000
149,385
7.00%,
10/30/2025
25,000
27,786
3.30%,
5/15/2026
100,000
98,743
2.20%,
2/09/2027
100,000
93,725
Intuit,
Inc.,
0.95%,
7/15/2025
65,000
60,259
KLA
Corp.,
4.65%,
11/01/2024
60,000
61,458
Kyndryl
Holdings,
Inc.,
2.05%,
10/15/2026
(a)
25,000
21,849
LAM
Research
Corp.
3.80%,
3/15/2025
25,000
25,225
3.75%,
3/15/2026
25,000
25,096
Leidos
,
Inc.
2.95%,
5/15/2023
35,000
34,879
3.63%,
5/15/2025
10,000
9,942
Marvell
Technology,
Inc.,
1.65%,
4/15/2026
25,000
22,810
Microsoft
Corp.
2.38%,
5/01/2023
10,000
10,007
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Technology
–
8.3%
(continued)
3.63%,
12/15/2023
125,000
126,711
2.70%,
2/12/2025
25,000
24,786
3.13%,
11/03/2025
50,000
50,136
2.40%,
8/08/2026
125,000
120,929
3.30%,
2/06/2027
150,000
150,782
NetApp,
Inc.,
1.88%,
6/22/2025
25,000
23,578
NVIDIA
Corp.,
3.20%,
9/16/2026
50,000
49,778
Oracle
Corp.
3.63%,
7/15/2023
25,000
25,181
2.40%,
9/15/2023
60,000
59,436
3.40%,
7/08/2024
50,000
49,871
2.95%,
11/15/2024
75,000
73,543
2.50%,
4/01/2025
50,000
47,756
2.95%,
5/15/2025
40,000
38,700
1.65%,
3/25/2026
150,000
135,693
2.65%,
7/15/2026
75,000
70,090
QUALCOMM,
Inc.,
2.90%,
5/20/2024
50,000
49,864
Roper
Technologies,
Inc.
3.65%,
9/15/2023
20,000
20,122
2.35%,
9/15/2024
20,000
19,477
1.00%,
9/15/2025
50,000
45,728
Skyworks
Solutions,
Inc.,
0.90%,
6/01/2023
20,000
19,510
Texas
Instruments,
Inc.
2.25%,
5/01/2023
50,000
49,896
1.38%,
3/12/2025
50,000
47,510
TSMC
Arizona
Corp.,
1.75%,
10/25/2026
25,000
22,948
VMware,
Inc.
1.00%,
8/15/2024
50,000
47,103
1.40%,
8/15/2026
50,000
44,809
Western
Digital
Corp.,
4.75%,
2/15/2026
100,000
99,356
Xilinx,
Inc.,
2.95%,
6/01/2024
90,000
89,396
4,583,555
Utilities
–
4.9%
Aep
Transmission
Co.
LLC,
3.10%,
12/01/2026
50,000
48,833
AES
Corp.
(The),
1.38%,
1/15/2026
75,000
67,468
Ameren
Corp.,
2.50%,
9/15/2024
40,000
39,016
Avangrid
,
Inc.
3.15%,
12/01/2024
15,000
14,807
3.20%,
4/15/2025
20,000
19,677
Berkshire
Hathaway
Energy
Co.
3.75%,
11/15/2023
50,000
50,527
4.05%,
4/15/2025
25,000
25,367
Black
Hills
Corp.
4.25%,
11/30/2023
35,000
35,376
3.95%,
1/15/2026
10,000
9,950
CenterPoint
Energy,
Inc.,
1.45%,
6/01/2026
10,000
9,095
Cleveland
Electric
Illuminating
Co.
(The),
5.50%,
8/15/2024
10,000
10,407
CMS
Energy
Corp.,
3.00%,
5/15/2026
10,000
9,679
Connecticut
Light
&
Power
Co.
(The),
Series
A,
0.75%,
12/01/2025
30,000
27,088
Dominion
Energy,
Inc.
3.07%,
8/15/2024
(c)
60,000
58,943
Series
D,
2.85%,
8/15/2026
50,000
48,022
DTE
Energy
Co.
Series
C,
2.53%,
10/01/2024
25,000
24,336
Series
F,
1.05%,
6/01/2025
50,000
46,056
2.85%,
10/01/2026
25,000
23,861
94
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Utilities
–
4.9%
(continued)
Duke
Energy
Corp.
3.75%,
4/15/2024
50,000
50,344
2.65%,
9/01/2026
50,000
47,411
Duke
Energy
Florida
LLC,
3.20%,
1/15/2027
75,000
73,475
Duke
Energy
Progress
LLC,
3.25%,
8/15/2025
50,000
49,686
Eastern
Energy
Gas
Holdings
LLC
3.55%,
11/01/2023
10,000
10,038
Series
A,
2.50%,
11/15/2024
25,000
24,368
Edison
International,
3.55%,
11/15/2024
45,000
44,502
Emera
US
Finance
LP,
3.55%,
6/15/2026
25,000
24,396
Entergy
Corp.,
2.95%,
9/01/2026
25,000
24,094
Entergy
Gulf
States
Louisiana
LLC,
5.59%,
10/01/2024
50,000
52,108
Entergy
Louisiana
LLC,
0.62%,
11/17/2023
65,000
62,768
Evergy
Kansas
Central,
Inc.,
2.55%,
7/01/2026
25,000
23,862
Evergy
,
Inc.,
2.45%,
9/15/2024
25,000
24,213
Eversource
Energy
Series
L,
2.90%,
10/01/2024
10,000
9,838
Series
Q,
0.80%,
8/15/2025
25,000
22,762
Series
U,
1.40%,
8/15/2026
50,000
45,295
Exelon
Corp.
3.95%,
6/15/2025
25,000
25,120
3.40%,
4/15/2026
20,000
19,554
Florida
Power
&
Light
Co.
3.25%,
6/01/2024
50,000
50,188
2.85%,
4/01/2025
100,000
98,517
3.13%,
12/01/2025
25,000
24,826
Fortis,
Inc.,
3.06%,
10/04/2026
50,000
47,969
Georgia
Power
Co.,
Series
A,
2.10%,
7/30/2023
100,000
99,112
Iberdrola
International
BV,
5.81%,
3/15/2025
35,000
37,238
Interstate
Power
and
Light
Co.,
3.25%,
12/01/2024
15,000
14,897
Ipalco
Enterprises,
Inc.,
3.70%,
9/01/2024
25,000
24,802
National
Rural
Utilities
Cooperative
Finance
Corp.
2.95%,
2/07/2024
25,000
24,923
3.25%,
11/01/2025
85,000
84,013
NextEra
Energy
Capital
Holdings,
Inc.,
1.88%,
1/15/2027
75,000
68,581
NiSource,
Inc.,
0.95%,
8/15/2025
75,000
68,013
Oklahoma
Gas
&
Electric
Co.,
0.55%,
5/26/2023
10,000
9,782
Oncor
Electric
Delivery
Co.
LLC,
2.75%,
6/01/2024
25,000
24,716
Pacific
Gas
&
Electric
Co.
1.70%,
11/15/2023
75,000
72,910
3.45%,
7/01/2025
50,000
48,006
3.15%,
1/01/2026
50,000
47,056
3.30%,
3/15/2027
50,000
46,449
Public
Service
Electric
&
Gas
Co.,
0.95%,
3/15/2026
100,000
91,315
Public
Service
Enterprise
Group,
Inc.
2.88%,
6/15/2024
10,000
9,842
0.80%,
8/15/2025
35,000
31,799
San
Diego
Gas
&
Electric
Co.
Series
NNN,
3.60%,
9/01/2023
10,000
10,086
2.50%,
5/15/2026
25,000
23,886
Southern
California
Edison
Co.
Series
D,
3.40%,
6/01/2023
20,000
20,054
Series
C,
3.50%,
10/01/2023
25,000
25,074
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
99.1%
(continued)
Utilities
–
4.9%
(continued)
Southern
California
Gas
Co.,
Series
TT,
2.60%,
6/15/2026
10,000
9,569
Southern
Co.
(The)
2.95%,
7/01/2023
25,000
25,000
3.25%,
7/01/2026
65,000
63,088
Series
B,
4.00%,
1/15/2051
25,000
23,606
Southern
Co.
Gas
Capital
Corp.,
2.45%,
10/01/2023
75,000
74,276
Southern
Power
Co.,
0.90%,
1/15/2026
35,000
31,492
Southwestern
Electric
Power
Co.,
Series
N,
1.65%,
3/15/2026
85,000
78,246
Virginia
Electric
&
Power
Co.
Series
A,
3.10%,
5/15/2025
10,000
9,856
Series
A,
3.15%,
1/15/2026
25,000
24,527
Wisconsin
Electric
Power
Co.,
2.05%,
12/15/2024
20,000
19,425
Xcel
Energy,
Inc.
0.50%,
10/15/2023
10,000
9,630
3.30%,
6/01/2025
30,000
29,678
2,704,789
Total
Corporate
Bonds
(cost
$57,634,167)
54,386,393
Shares
Investment
Companies
–
2.4%
Registered
Investment
Companies
–
2.4%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$1,335,367)
1,335,367
1,335,367
Investment
of
Cash
Collateral
for
Securities
Loaned
–
0.4%
Registered
Investment
Companies
–
0.4%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(d)(e)
(cost
$207,350)
207,350
207,350
Total
Investments
(cost
$59,176,884)
101.9%
55,929,110
Liabilities,
Less
Cash
and
Receivables
(1.9)%
(1,035,667)
Net
Assets
100.0%
54,893,443
95
(a)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
April
30,
2022,
these
securities
were
valued
at
$786,483
or
1.43%
of
net
assets.
(b)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$321,499
and
the
value
of
the
collateral
was
$331,372,
consisting
of
cash
collateral
of
$207,350
and
U.S.
Government
&
Agency
securities
valued
at
$124,022.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(c)
Step
coupon
bond.
The
interest
rate
represents
the
coupon
rate
at
which
the
bond
will
accrue
at
a
specified
future
date.
(d)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
(e)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
See
Notes
to
Financial
Statements
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
642,396
8,480,633
(7,787,662)
—
—
1,335,367
2.4
199
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
164,650
1,482,421
(1,439,721)
—
—
207,350
0.4
367
2
Total
807,046
9,963,054
(9,227,383)
—
—
1,542,717
2.8
566
1
Includes
reinvested
dividends/distributions.
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
Portfolio
Summary
(Unaudited)
†
Value
(%)
Financial
45.7
Consumer,
Non-cyclical
13.1
Technology
8.3
Consumer,
Cyclical
7.1
Industrial
6.6
Energy
6.3
Communications
5.5
Utilities
4.9
Registered
Investment
Companies
2.8
Basic
Materials
1.6
101.9
†
Based
on
net
assets.
96
STATEMENT
OF
INVESTMENTS
April
30,
2022
(Unaudited)
BNY
Mellon
High
Yield
Beta
ETF
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
Basic
Materials
–
3.8%
Alcoa
Nederland
Holding
BV,
5.50%,
12/15/2027
(a)
10,000
9,953
Allegheny
Technologies,
Inc.,
5.88%,
12/01/2027
(b)
18,000
17,391
Arconic
Corp.
6.00%,
5/15/2025
(a)
20,000
20,100
6.13%,
2/15/2028
(a)
30,000
29,032
Ashland
LLC,
3.38%,
9/01/2031
(a)
10,000
8,654
ASP
Unifrax
Holdings,
Inc.
5.25%,
9/30/2028
(a)
40,000
35,276
7.50%,
9/30/2029
(a)(b)
30,000
24,574
Axalta
Coating
Systems
LLC,
3.38%,
2/15/2029
(a)
35,000
30,359
Baffinland
Iron
Mines
Corp.
/
Baffinland
Iron
Mines
LP,
8.75%,
7/15/2026
(a)
10,000
10,148
Big
River
Steel
LLC
/
BRS
Finance
Corp.,
6.63%,
1/31/2029
(a)
22,000
22,500
Carpenter
Technology
Corp.,
6.38%,
7/15/2028
15,000
14,969
Century
Aluminum
Co.,
7.50%,
4/01/2028
(a)
10,000
10,106
Chemours
Co.
(The)
5.38%,
5/15/2027
(b)
28,000
27,277
5.75%,
11/15/2028
(a)(b)
15,000
14,121
Cleveland-Cliffs,
Inc.
6.75%,
3/15/2026
(a)
5,000
5,241
5.88%,
6/01/2027
(b)
20,000
20,028
4.63%,
3/01/2029
(a)(b)
5,000
4,690
4.88%,
3/01/2031
(a)
15,000
13,954
Commercial
Metals
Co.
4.88%,
5/15/2023
35,000
35,242
3.88%,
2/15/2031
4,000
3,519
Compass
Minerals
International,
Inc.,
4.88%,
7/15/2024
(a)
22,000
21,784
Consolidated
Energy
Finance
SA,
6.50%,
5/15/2026
(a)
30,000
30,602
Domtar
Corp.,
6.75%,
10/01/2028
(a)
25,000
24,773
Element
Solutions,
Inc.,
3.88%,
9/01/2028
(a)
35,000
31,305
FMG
Resources
(August
2006)
Pty
Ltd.
5.13%,
5/15/2024
(a)
19,000
19,249
4.50%,
9/15/2027
(a)
25,000
23,930
4.38%,
4/01/2031
(a)
60,000
53,112
GCP
Applied
Technologies,
Inc.,
5.50%,
4/15/2026
(a)
32,000
32,269
Glatfelter
Corp.,
4.75%,
11/15/2029
(a)
30,000
24,054
GPD
Cos.,
Inc.,
10.13%,
4/01/2026
(a)
15,000
15,625
HB
Fuller
Co.
4.00%,
2/15/2027
40,000
37,758
4.25%,
10/15/2028
15,000
13,485
Hecla
Mining
Co.,
7.25%,
2/15/2028
17,000
17,175
Illuminate
Buyer
LLC
/
Illuminate
Holdings
IV,
Inc.,
9.00%,
7/01/2028
(a)
30,000
28,885
INEOS
Quattro
Finance
2
PLC,
3.38%,
1/15/2026
(a)
15,000
13,652
Infrabuild
Australia
Pty
Ltd.,
12.00%,
10/01/2024
(a)
5,000
5,104
Ingevity
Corp.,
3.88%,
11/01/2028
(a)
5,000
4,513
Innophos
Holdings,
Inc.,
9.38%,
2/15/2028
(a)
22,000
23,209
Iris
Holdings,
Inc.,
8.75%,
2/15/2026
(a)(c)
45,000
43,136
Joseph
T
Ryerson
&
Son,
Inc.,
8.50%,
8/01/2028
(a)
24,000
25,792
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Basic
Materials
–
3.8%
(continued)
JW
Aluminum
Continuous
Cast
Co.,
10.25%,
6/01/2026
(a)
25,000
25,799
Kaiser
Aluminum
Corp.,
4.63%,
3/01/2028
(a)
38,000
34,608
Mercer
International,
Inc.,
5.50%,
1/15/2026
10,000
9,915
Methanex
Corp.
5.13%,
10/15/2027
15,000
14,435
5.25%,
12/15/2029
20,000
19,120
5.65%,
12/01/2044
20,000
17,690
Mineral
Resources
Ltd.,
8.13%,
5/01/2027
(a)
15,000
15,316
Minerals
Technologies,
Inc.,
5.00%,
7/01/2028
(a)
15,000
13,974
New
Gold,
Inc.,
7.50%,
7/15/2027
(a)
35,000
34,994
Novelis
Corp.,
4.75%,
1/30/2030
(a)
53,000
48,712
Olin
Corp.
5.13%,
9/15/2027
11,000
10,856
5.63%,
8/01/2029
(b)
3,000
2,952
5.00%,
2/01/2030
15,000
14,223
Perenti
Finance
Pty,
Ltd.,
6.50%,
10/07/2025
(a)
30,000
29,932
Polar
US
Borrower
LLC
/
Schenectady
International
Group,
Inc.,
6.75%,
5/15/2026
(a)
45,000
36,324
Rain
CII
Carbon
LLC
/
CII
Carbon
Corp.,
7.25%,
4/01/2025
(a)
17,000
16,415
Rayonier
Am
Products,
Inc.
5.50%,
6/01/2024
(a)(b)
40,000
39,390
7.63%,
1/15/2026
(a)
46,000
43,659
SCIH
Salt
Holdings,
Inc.
4.88%,
5/01/2028
(a)
50,000
43,848
6.63%,
5/01/2029
(a)
35,000
27,977
SCIL
IV
LLC
/
SCIL
USA
Holdings
LLC,
5.38%,
11/01/2026
(a)
30,000
27,378
SPCM
SA,
3.13%,
3/15/2027
(a)
10,000
8,836
Sylvamo
Corp.,
7.00%,
9/01/2029
(a)
40,000
39,363
Trinseo
Materials
Operating
SCA
/
Trinseo
Materials
Finance,
Inc.,
5.38%,
9/01/2025
(a)
15,000
14,550
Tronox,
Inc.,
4.63%,
3/15/2029
(a)
60,000
53,550
U.S.
Steel
Corp.,
6.88%,
3/01/2029
20,000
20,341
Valvoline,
Inc.
4.25%,
2/15/2030
(a)
20,000
17,383
3.63%,
6/15/2031
(a)
40,000
32,495
WR
Grace
Holdings
LLC
5.63%,
10/01/2024
(a)
11,000
11,078
5.63%,
8/15/2029
(a)
30,000
25,766
1,597,425
Communications
–
18.0%
Advantage
Sales
&
Marketing,
Inc.,
6.50%,
11/15/2028
(a)
40,000
36,583
Altice
Financing
SA
5.00%,
1/15/2028
(a)
35,000
29,499
5.75%,
8/15/2029
(a)
70,000
59,135
Altice
France
Holding
SA
10.50%,
5/15/2027
(a)
50,000
50,611
6.00%,
2/15/2028
(a)(b)
65,000
53,691
Altice
France
SA
8.13%,
2/01/2027
(a)
50,000
50,360
5.50%,
1/15/2028
(a)
22,000
19,474
5.13%,
1/15/2029
(a)
5,000
4,311
5.13%,
7/15/2029
(a)
85,000
71,903
5.50%,
10/15/2029
(a)
50,000
43,042
97
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Communications
–
18.0%
(continued)
AMC
Networks,
Inc.
4.75%,
8/01/2025
(b)
7,000
6,759
4.25%,
2/15/2029
(b)
30,000
26,177
Angi
Group
LLC,
3.88%,
8/15/2028
(a)(b)
15,000
11,913
Arches
Buyer,
Inc.
4.25%,
6/01/2028
(a)
20,000
17,893
6.13%,
12/01/2028
(a)
15,000
13,051
Audacy
Capital
Corp.,
6.50%,
5/01/2027
(a)(b)
36,000
30,966
Avaya,
Inc.,
6.13%,
9/15/2028
(a)
50,000
46,220
Belo
Corp.
7.75%,
6/01/2027
13,000
14,734
7.25%,
9/15/2027
10,000
11,092
British
Telecommunications
PLC,
4.25%,
11/23/2081
(a)
30,000
28,211
C&W
Senior
Financing
Dac,
6.88%,
9/15/2027
(a)
25,000
24,306
Cars.com,
Inc.,
6.38%,
11/01/2028
(a)
20,000
18,771
CCO
Holdings
LLC
/
CCO
Holdings
Capital
Corp.
5.50%,
5/01/2026
(a)(b)
30,000
30,075
5.13%,
5/01/2027
(a)
120,000
116,920
5.00%,
2/01/2028
(a)
90,000
85,742
5.38%,
6/01/2029
(a)
40,000
37,963
4.75%,
3/01/2030
(a)
115,000
102,670
4.50%,
8/15/2030
(a)
40,000
34,952
4.25%,
2/01/2031
(a)
145,000
122,389
4.50%,
5/01/2032
100,000
84,259
4.50%,
6/01/2033
(a)
90,000
73,756
4.25%,
1/15/2034
(a)
100,000
79,472
Cengage
Learning,
Inc.,
9.50%,
6/15/2024
(a)
30,000
29,415
Clear
Channel
Outdoor
Holdings,
Inc.
7.75%,
4/15/2028
(a)
50,000
47,284
7.50%,
6/01/2029
(a)
50,000
47,160
Clear
Channel
Worldwide
Holdings,
Inc.,
5.13%,
8/15/2027
(a)
31,000
29,153
CommScope
Technologies
LLC
6.00%,
6/15/2025
(a)
31,000
27,203
5.00%,
3/15/2027
(a)
10,000
7,844
CommScope,
Inc.
6.00%,
3/01/2026
(a)
35,000
33,095
8.25%,
3/01/2027
(a)
21,000
17,851
7.13%,
7/01/2028
(a)(b)
20,000
15,968
4.75%,
9/01/2029
(a)
35,000
29,334
Connect
Finco
Sarl
/
Connect
US
Finco
LLC,
6.75%,
10/01/2026
(a)
75,000
73,389
Consolidated
Communications,
Inc.
5.00%,
10/01/2028
(a)
10,000
8,180
6.50%,
10/01/2028
(a)
20,000
17,375
CSC
Holdings
LLC
5.25%,
6/01/2024
25,000
24,395
5.50%,
4/15/2027
(a)
15,000
14,490
5.38%,
2/01/2028
(a)
26,000
24,050
6.50%,
2/01/2029
(a)
60,000
57,319
5.75%,
1/15/2030
(a)
40,000
33,194
4.13%,
12/01/2030
(a)
25,000
20,680
4.63%,
12/01/2030
(a)
40,000
30,590
3.38%,
2/15/2031
(a)
20,000
15,611
4.50%,
11/15/2031
(a)
50,000
41,136
Cumulus
Media
New
Holdings,
Inc.,
6.75%,
7/01/2026
(a)(b)
15,000
14,983
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Communications
–
18.0%
(continued)
Diamond
Sports
Group
LLC
/
Diamond
Sports
Finance
Co.,
6.63%,
8/15/2027
(a)
20,000
4,185
DIRECTV
Financing
LLC
/
DIRECTV
Financing
Co.-Obligor,
Inc.,
5.88%,
8/15/2027
(a)
180,000
169,733
DISH
DBS
Corp.
5.88%,
11/15/2024
64,000
62,351
7.75%,
7/01/2026
75,000
71,607
5.25%,
12/01/2026
(a)
105,000
96,576
7.38%,
7/01/2028
35,000
30,841
5.75%,
12/01/2028
(a)
80,000
71,757
5.13%,
6/01/2029
85,000
66,377
DKT
Finance
ApS,
9.38%,
6/17/2023
(a)
20,000
19,932
Embarq
Corp.,
8.00%,
6/01/2036
72,000
64,833
Endure
Digital,
Inc.,
6.00%,
2/15/2029
(a)
35,000
28,320
Frontier
Communications
Holdings
LLC
5.88%,
10/15/2027
(a)
30,000
28,725
5.00%,
5/01/2028
(a)
60,000
54,779
6.75%,
5/01/2029
(a)
5,000
4,543
5.88%,
11/01/2029
20,000
17,429
6.00%,
1/15/2030
(a)(b)
40,000
34,845
Frontier
North,
Inc.,
Series
G,
6.73%,
2/15/2028
30,000
29,837
Gannett
Holdings
LLC,
6.00%,
11/01/2026
(a)
20,000
18,212
GCI
LLC,
4.75%,
10/15/2028
(a)
40,000
36,930
Getty
Images,
Inc.,
9.75%,
3/01/2027
(a)
35,000
36,335
Go
Daddy
Operating
Co.
LLC
/
GD
Finance
Co.,
Inc.
5.25%,
12/01/2027
(a)
17,000
16,812
3.50%,
3/01/2029
(a)
40,000
35,541
Gray
Escrow
II,
Inc.,
5.38%,
11/15/2031
(a)
25,000
21,898
Gray
Television,
Inc.
5.88%,
7/15/2026
(a)
2,000
2,018
7.00%,
5/15/2027
(a)
10,000
10,357
4.75%,
10/15/2030
(a)
25,000
21,747
Grubhub
Holdings,
Inc.,
5.50%,
7/01/2027
(a)
50,000
42,926
Hughes
Satellite
Systems
Corp.
5.25%,
8/01/2026
20,000
19,570
6.63%,
8/01/2026
40,000
40,042
iHeartCommunications,
Inc.
6.38%,
5/01/2026
20,000
20,045
8.38%,
5/01/2027
68,000
67,311
5.25%,
8/15/2027
(a)
15,000
14,072
Iliad
Holding
SASU
6.50%,
10/15/2026
(a)
50,000
48,149
7.00%,
10/15/2028
(a)
50,000
47,687
Intelsat
Jackson
Holdings
SA,
6.50%,
3/15/2030
(a)
89,000
83,864
Intrado
Corp.,
8.50%,
10/15/2025
(a)
34,000
30,199
Lamar
Media
Corp.
3.75%,
2/15/2028
20,000
18,439
4.88%,
1/15/2029
10,000
9,539
4.00%,
2/15/2030
30,000
26,996
3.63%,
1/15/2031
15,000
13,063
LCPR
Senior
Secured
Financing
DAC
6.75%,
10/15/2027
(a)
33,000
32,833
5.13%,
7/15/2029
(a)
50,000
45,542
Level
3
Financing,
Inc.
5.38%,
5/01/2025
40,000
39,690
5.25%,
3/15/2026
40,000
38,975
4.63%,
9/15/2027
(a)
30,000
27,028
98
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Communications
–
18.0%
(continued)
4.25%,
7/01/2028
(a)
35,000
29,612
3.63%,
1/15/2029
(a)
35,000
28,483
3.75%,
7/15/2029
(a)
40,000
32,489
Ligado
Networks
LLC,
15.50%,
11/01/2023
(a)(c)
123,080
93,652
LogMeIn,
Inc.,
5.50%,
9/01/2027
(a)
30,000
26,454
Lumen
Technologies,
Inc.
Series
W,
6.75%,
12/01/2023
30,000
30,506
Series
Y,
7.50%,
4/01/2024
42,000
43,140
5.13%,
12/15/2026
(a)
46,000
41,681
4.00%,
2/15/2027
(a)
41,000
36,466
4.50%,
1/15/2029
(a)
10,000
7,916
5.38%,
6/15/2029
(a)
40,000
32,649
Series
P,
7.60%,
9/15/2039
10,000
8,739
Series
U,
7.65%,
3/15/2042
15,000
13,313
Match
Group
Holdings
II
LLC
4.63%,
6/01/2028
(a)
30,000
28,005
3.63%,
10/01/2031
(a)
40,000
33,386
McGraw-Hill
Education,
Inc.
5.75%,
8/01/2028
(a)
10,000
8,940
8.00%,
8/01/2029
(a)
35,000
31,336
Midas
OpCo
Holdings
LLC,
5.63%,
8/15/2029
(a)
30,000
26,468
Millennium
Escrow
Corp.,
6.63%,
8/01/2026
(a)
30,000
27,807
Netflix,
Inc.
5.88%,
2/15/2025
50,000
51,913
4.38%,
11/15/2026
30,000
29,765
4.88%,
4/15/2028
40,000
39,270
5.88%,
11/15/2028
80,000
82,357
6.38%,
5/15/2029
30,000
31,864
5.38%,
11/15/2029
(a)
20,000
20,023
4.88%,
6/15/2030
(a)
31,000
30,321
News
Corp.,
3.88%,
5/15/2029
(a)
60,000
54,020
Nexstar
Media,
Inc.
5.63%,
7/15/2027
(a)
50,000
48,684
4.75%,
11/01/2028
(a)(b)
30,000
27,315
Nokia
OYJ
4.38%,
6/12/2027
8,000
7,784
6.63%,
5/15/2039
10,000
11,543
NortonLifeLock,
Inc.,
5.00%,
4/15/2025
(a)
35,000
34,982
Outfront
Media
Capital
LLC
/
Outfront
Media
Capital
Corp.
6.25%,
6/15/2025
(a)
30,000
30,451
5.00%,
8/15/2027
(a)
20,000
18,947
4.25%,
1/15/2029
(a)
15,000
13,344
4.63%,
3/15/2030
(a)
15,000
13,390
Paramount
Global,
6.38%,
3/30/2062
45,000
43,674
Photo
Holdings
Merger
Sub,
Inc.,
8.50%,
10/01/2026
(a)
40,000
37,176
Radiate
Holdco
LLC
/
Radiate
Finance,
Inc.
4.50%,
9/15/2026
(a)
25,000
23,068
6.50%,
9/15/2028
(a)
30,000
26,232
Rakuten
Group,
Inc.
5.13%
(a)(d)
35,000
32,216
6.25%
(a)(d)
20,000
18,887
Scripps
Escrow
II,
Inc.
3.88%,
1/15/2029
(a)
15,000
13,328
5.38%,
1/15/2031
(a)(b)
15,000
13,385
Scripps
Escrow,
Inc.,
5.88%,
7/15/2027
(a)
25,000
23,908
Sinclair
Television
Group,
Inc.,
5.50%,
3/01/2030
(a)
56,000
46,171
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Communications
–
18.0%
(continued)
Sirius
XM
Radio,
Inc.
4.00%,
7/15/2028
(a)
85,000
76,860
5.50%,
7/01/2029
(a)
30,000
28,915
4.13%,
7/01/2030
(a)
35,000
30,767
3.88%,
9/01/2031
(a)
70,000
59,190
Sprint
Capital
Corp.
6.88%,
11/15/2028
64,000
70,211
8.75%,
3/15/2032
85,000
108,034
Sprint
Corp.
7.88%,
9/15/2023
120,000
125,986
7.13%,
6/15/2024
80,000
84,159
7.63%,
2/15/2025
50,000
53,239
7.63%,
3/01/2026
35,000
38,102
Switch
Ltd.,
3.75%,
9/15/2028
(a)
15,000
14,068
TEGNA,
Inc.
4.75%,
3/15/2026
(a)
30,000
29,793
4.63%,
3/15/2028
23,000
22,146
5.00%,
9/15/2029
31,000
30,095
Telecom
Italia
Capital
SA
6.38%,
11/15/2033
15,000
13,268
6.00%,
9/30/2034
45,000
38,523
7.20%,
7/18/2036
30,000
27,105
7.72%,
6/04/2038
10,000
9,387
Telecom
Italia
SpA,
5.30%,
5/30/2024
(a)
30,000
29,407
Telesat
Canada
/
Telesat
LLC
4.88%,
6/01/2027
(a)
13,000
8,840
6.50%,
10/15/2027
(a)
40,000
17,063
Terrier
Media
Buyer,
Inc.,
8.88%,
12/15/2027
(a)
30,000
29,337
T-Mobile
USA,
Inc.
2.25%,
2/15/2026
30,000
27,578
2.63%,
4/15/2026
40,000
37,308
4.75%,
2/01/2028
15,000
14,807
2.63%,
2/15/2029
30,000
25,955
3.38%,
4/15/2029
30,000
27,286
3.38%,
4/15/2029
(a)
40,000
36,209
2.88%,
2/15/2031
40,000
34,041
3.50%,
4/15/2031
65,000
57,919
3.50%,
4/15/2031
(a)
40,000
35,455
Townsquare
Media,
Inc.,
6.88%,
2/01/2026
(a)
5,000
4,991
Trilogy
International
South
Pacific
LLC
/
TISP
Finance,
Inc.,
8.88%,
5/15/2023
(a)
10,506
10,425
Tripadvisor,
Inc.,
7.00%,
7/15/2025
(a)
15,000
15,400
Twitter,
Inc.
3.88%,
12/15/2027
(a)
35,000
34,334
5.00%,
3/01/2030
(a)
70,000
71,565
U.S.
Cellular
Corp.,
6.70%,
12/15/2033
(b)
15,000
15,380
Uber
Technologies,
Inc.
7.50%,
5/15/2025
(a)
25,000
25,807
8.00%,
11/01/2026
(a)
45,000
47,125
7.50%,
9/15/2027
(a)
32,000
32,930
4.50%,
8/15/2029
(a)
45,000
38,762
Univision
Communications,
Inc.
5.13%,
2/15/2025
(a)
33,000
32,580
9.50%,
5/01/2025
(a)
15,000
15,739
6.63%,
6/01/2027
(a)
65,000
65,394
4.50%,
5/01/2029
(a)
35,000
31,420
UPC
Broadband
Finco
BV,
4.88%,
7/15/2031
(a)
40,000
35,145
UPC
Holding
BV,
5.50%,
1/15/2028
(a)
15,000
14,205
99
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Communications
–
18.0%
(continued)
ViacomCBS,
Inc.,
6.25%,
2/28/2057
37,000
35,754
ViaSat,
Inc.
5.63%,
4/15/2027
(a)
32,000
29,712
6.50%,
7/15/2028
(a)
25,000
21,623
Viavi
Solutions,
Inc.,
3.75%,
10/01/2029
(a)
15,000
13,488
Videotron
Ltd.
5.38%,
6/15/2024
(a)
15,000
15,191
5.13%,
4/15/2027
(a)
35,000
34,305
3.63%,
6/15/2029
(a)
40,000
34,876
Virgin
Media
Finance
PLC,
5.00%,
7/15/2030
(a)
30,000
26,279
Virgin
Media
Secured
Finance
PLC
5.50%,
5/15/2029
(a)
25,000
23,284
4.50%,
8/15/2030
(a)
15,000
13,003
Virgin
Media
Vendor
Financing
Notes
IV
DAC,
5.00%,
7/15/2028
(a)
40,000
36,747
VMED
O2
UK
Financing
I
PLC
4.25%,
1/31/2031
(a)
30,000
25,369
4.75%,
7/15/2031
(a)
50,000
43,138
Vodafone
Group
PLC
7.00%,
4/04/2079
76,000
80,473
3.25%,
6/04/2081
15,000
13,616
4.13%,
6/04/2081
35,000
30,230
5.13%,
6/04/2081
25,000
20,816
VZ
Secured
Financing
BV,
5.00%,
1/15/2032
(a)
50,000
43,674
Windstream
Escrow
LLC
/
Windstream
Escrow
Finance
Corp.,
7.75%,
8/15/2028
(a)
30,000
28,744
Zayo
Group
Holdings,
Inc.
4.00%,
3/01/2027
(a)
41,000
35,795
6.13%,
3/01/2028
(a)
38,000
31,867
Ziggo
Bond
Co.
BV,
6.00%,
1/15/2027
(a)
25,000
24,556
Ziggo
BV,
4.88%,
1/15/2030
(a)
30,000
26,605
7,645,549
Consumer,
Cyclical
–
20.5%
1011778
BC
ULC
/
New
Red
Finance,
Inc.
5.75%,
4/15/2025
(a)
10,000
10,221
3.88%,
1/15/2028
(a)
60,000
55,200
4.38%,
1/15/2028
(a)
20,000
18,341
3.50%,
2/15/2029
(a)
70,000
61,843
4.00%,
10/15/2030
(a)
80,000
68,431
Abercrombie
&
Fitch
Management
Co.,
8.75%,
7/15/2025
(a)
25,000
26,208
Affinity
Gaming,
6.88%,
12/15/2027
(a)
5,000
4,700
Air
Canada,
3.88%,
8/15/2026
(a)
25,000
23,115
Allen
Media
LLC
/
Allen
Media
Co.-Issuer,
Inc.,
10.50%,
2/15/2028
(a)
20,000
18,077
Allison
Transmission,
Inc.
4.75%,
10/01/2027
(a)
10,000
9,640
5.88%,
6/01/2029
(a)
15,000
14,791
3.75%,
1/30/2031
(a)
20,000
17,308
Ambience
Merger
Sub,
Inc.,
4.88%,
7/15/2028
(a)
30,000
24,793
AMC
Entertainment
Holdings,
Inc.
10.00%,
6/15/2026
(a)(b)(c)
30,000
25,110
7.50%,
2/15/2029
(a)
60,000
55,404
American
Airlines
Group,
Inc.,
3.75%,
3/01/2025
(a)(b)
7,000
6,287
American
Airlines
Pass-Through
Trust
Series
2013-2,
Class
A,
4.95%,
1/15/2023
36,945
36,705
Series
2013-1,
Class
A,
4.00%,
7/15/2025
42,807
40,284
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
Series
2014-1,
Class
A,
3.70%,
10/01/2026
18,009
17,031
Series
2015-1,
Class
A,
3.38%,
5/01/2027
67,637
62,998
Series
2016-1,
Class
A,
4.10%,
1/15/2028
29,525
26,595
Series
2016-2,
Class
A,
3.65%,
6/15/2028
32,874
28,704
Series
2016-3,
Class
A,
3.25%,
10/15/2028
14,937
13,143
American
Airlines,
Inc.,
11.75%,
7/15/2025
(a)
65,000
74,902
American
Airlines,
Inc./Aadvantage
Loyalty
Ip
Ltd.
5.50%,
4/20/2026
(a)
55,000
54,511
5.75%,
4/20/2029
(a)
60,000
57,888
American
Axle
&
Manufacturing,
Inc.
6.50%,
4/01/2027
15,000
14,033
5.00%,
10/01/2029
(b)
20,000
17,233
American
Builders
&
Contractors
Supply
Co.,
Inc.,
4.00%,
1/15/2028
(a)
15,000
13,942
Aramark
Services,
Inc.
5.00%,
4/01/2025
(a)
30,000
29,837
6.38%,
5/01/2025
(a)
35,000
35,626
5.00%,
2/01/2028
(a)(b)
46,000
42,916
Arrow
Bidco
LLC,
9.50%,
3/15/2024
(a)
10,000
10,151
Asbury
Automotive
Group,
Inc.
4.50%,
3/01/2028
(b)
10,000
9,319
4.63%,
11/15/2029
(a)
55,000
49,551
4.75%,
3/01/2030
11,000
9,861
Ashton
Woods
USA
LLC
/
Ashton
Woods
Finance
Co.,
4.63%,
4/01/2030
(a)
10,000
8,177
Aston
Martin
Capital
Holdings
Ltd.,
10.50%,
11/30/2025
(a)
50,000
50,371
Avient
Corp.,
5.75%,
5/15/2025
(a)
25,000
25,240
Bath
&
Body
Works,
Inc.
9.38%,
7/01/2025
(a)
30,000
33,759
6.69%,
1/15/2027
20,000
20,754
5.25%,
2/01/2028
25,000
24,197
7.50%,
6/15/2029
15,000
15,495
6.63%,
10/01/2030
(a)
60,000
59,750
6.75%,
7/01/2036
15,000
14,471
7.60%,
7/15/2037
34,000
32,785
BCPE
Empire
Holdings,
Inc.,
7.63%,
5/01/2027
(a)
20,000
18,741
BCPE
Ulysses
Intermediate,
Inc.,
7.75%,
4/01/2027
(a)(c)
10,000
8,553
Beacon
Roofing
Supply,
Inc.,
4.50%,
11/15/2026
(a)
13,000
12,677
Beazer
Homes
USA,
Inc.,
5.88%,
10/15/2027
(b)
40,000
36,736
Bed
Bath
&
Beyond,
Inc.,
3.75%,
8/01/2024
30,000
27,655
Bluelinx
Holdings,
Inc.,
6.00%,
11/15/2029
(a)
35,000
31,798
Boyd
Gaming
Corp.
4.75%,
12/01/2027
45,000
42,591
4.75%,
6/15/2031
(a)
15,000
13,589
Brinker
International,
Inc.,
3.88%,
5/15/2023
40,000
39,861
Brookfield
Residential
Properties,
Inc.
/
Brookfield
Residential
US
Corp.,
6.25%,
9/15/2027
(a)
10,000
9,378
Brookfield
Residential
Properties,
Inc.
/
Brookfield
Residential
US
LLC,
4.88%,
2/15/2030
(a)
10,000
8,343
Caesars
Entertainment,
Inc.
6.25%,
7/01/2025
(a)
100,000
101,129
8.13%,
7/01/2027
(a)(b)
75,000
78,370
4.63%,
10/15/2029
(a)
25,000
21,584
100
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
Caesars
Resort
Collection
LLC
/
CRC
Finco,
Inc.,
5.75%,
7/01/2025
(a)
25,000
25,518
Carnival
Corp.
10.50%,
2/01/2026
(a)
20,000
21,979
7.63%,
3/01/2026
(a)
45,000
44,041
5.75%,
3/01/2027
(a)
80,000
72,824
9.88%,
8/01/2027
(a)
45,000
48,557
6.65%,
1/15/2028
20,000
18,620
4.00%,
8/01/2028
(a)
40,000
36,014
6.00%,
5/01/2029
(a)
125,000
112,204
Carvana
Co.
5.63%,
10/01/2025
(a)
35,000
30,367
5.88%,
10/01/2028
(a)(b)
20,000
15,911
4.88%,
9/01/2029
(a)
25,000
18,325
10.25%,
5/01/2030
(a)
15,000
14,533
CD&R
Smokey
Buyer,
Inc.,
6.75%,
7/15/2025
(a)
15,000
15,270
CEC
Entertainment
LLC,
6.75%,
5/01/2026
(a)
30,000
28,535
Cedar
Fair
LP,
5.25%,
7/15/2029
(b)
15,000
14,202
Cedar
Fair
LP
/
Canada's
Wonderland
Co.
/
Magnum
Management
Corp.
/
Millennium
Op
5.50%,
5/01/2025
(a)
45,000
45,236
5.38%,
4/15/2027
15,000
14,589
6.50%,
10/01/2028
5,000
5,035
Century
Communities,
Inc.,
6.75%,
6/01/2027
16,000
16,170
Churchill
Downs,
Inc.
5.50%,
4/01/2027
(a)
40,000
39,352
4.75%,
1/15/2028
(a)
15,000
14,047
Clarios
Global
LP,
6.75%,
5/15/2025
(a)
13,000
13,326
Clarios
Global
LP
/
Clarios
US
Finance
Co.
6.25%,
5/15/2026
(a)
46,000
46,652
8.50%,
5/15/2027
(a)
80,000
80,125
Constellation
Merger
Sub,
Inc.,
8.50%,
9/15/2025
(a)
10,000
9,320
CWT
Travel
Group,
Inc.,
8.50%,
11/19/2026
(a)
10,000
9,888
Dana
Financing
Luxembourg
Sarl,
5.75%,
4/15/2025
(a)
7,000
6,964
Dana,
Inc.,
4.50%,
2/15/2032
37,000
30,619
Dave
&
Buster's,
Inc.,
7.63%,
11/01/2025
(a)
11,000
11,404
Dealer
Tire
LLC
/
DT
Issuer
LLC,
8.00%,
2/01/2028
(a)
15,000
14,761
Delta
Air
Lines,
Inc.
2.90%,
10/28/2024
65,000
62,073
7.38%,
1/15/2026
(b)
25,000
26,631
4.38%,
4/19/2028
(b)
15,000
14,042
3.75%,
10/28/2029
(b)
15,000
13,243
eG
Global
Finance
PLC,
6.75%,
2/07/2025
(a)
22,000
21,388
Empire
Communities
Corp.,
7.00%,
12/15/2025
(a)
5,000
4,738
Ferrellgas
LP
/
Ferrellgas
Finance
Corp.
5.38%,
4/01/2026
(a)
15,000
13,628
5.88%,
4/01/2029
(a)
20,000
17,440
FirstCash,
Inc.,
4.63%,
9/01/2028
(a)
10,000
9,101
Ford
Holdings
LLC,
9.30%,
3/01/2030
25,000
29,270
Ford
Motor
Co.
9.00%,
4/22/2025
50,000
55,763
7.13%,
11/15/2025
35,000
37,274
4.35%,
12/08/2026
50,000
47,996
6.63%,
10/01/2028
30,000
31,145
6.38%,
2/01/2029
20,000
20,199
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
7.45%,
7/16/2031
30,000
32,733
3.25%,
2/12/2032
50,000
40,599
4.75%,
1/15/2043
30,000
24,160
5.29%,
12/08/2046
35,000
30,088
Ford
Motor
Credit
Co.
LLC
3.10%,
5/04/2023
20,000
19,779
3.37%,
11/17/2023
10,000
9,838
5.58%,
3/18/2024
50,000
50,524
3.66%,
9/08/2024
15,000
14,559
4.06%,
11/01/2024
40,000
39,148
4.69%,
6/09/2025
40,000
39,212
5.13%,
6/16/2025
35,000
34,873
4.13%,
8/04/2025
50,000
48,414
3.38%,
11/13/2025
50,000
47,143
4.39%,
1/08/2026
25,000
24,111
4.54%,
8/01/2026
15,000
14,405
2.70%,
8/10/2026
50,000
44,605
4.27%,
1/09/2027
20,000
18,921
4.13%,
8/17/2027
25,000
23,183
3.82%,
11/02/2027
35,000
31,851
5.11%,
5/03/2029
25,000
23,691
4.00%,
11/13/2030
25,000
21,667
Gap,
Inc.
(The),
3.63%,
10/01/2029
(a)
16,000
13,024
Genting
New
York
LLC
/
Genny
Capital,
Inc.,
3.30%,
2/15/2026
(a)
30,000
27,494
G-III
Apparel
Group
Ltd.,
7.88%,
8/15/2025
(a)
10,000
10,401
Goodyear
Tire
&
Rubber
Co.
(The)
5.00%,
5/31/2026
(b)
10,000
9,606
5.00%,
7/15/2029
45,000
39,872
5.63%,
4/30/2033
30,000
25,647
Group
1
Automotive,
Inc.,
4.00%,
8/15/2028
(a)
42,000
37,780
H&E
Equipment
Services,
Inc.,
3.88%,
12/15/2028
(a)
45,000
39,185
Hanesbrands,
Inc.
4.63%,
5/15/2024
(a)
23,000
22,796
4.88%,
5/15/2026
(a)
25,000
24,438
Hawaiian
Brand
Intellectual
Property
Ltd.
/
Hawaiianmiles
Loyalty
Ltd.,
5.75%,
1/20/2026
(a)
15,000
14,640
Hilton
Domestic
Operating
Co.,
Inc.
5.75%,
5/01/2028
(a)
50,000
50,653
3.75%,
5/01/2029
(a)
20,000
18,179
4.88%,
1/15/2030
50,000
48,337
4.00%,
5/01/2031
(a)
70,000
62,811
3.63%,
2/15/2032
(a)
82,000
69,539
Hilton
Grand
Vacations
Borrower
Escrow
LLC
/
Hilton
Grand
Vacations
Borrower
Escrow,
Inc.,
5.00%,
6/01/2029
(a)
38,000
34,258
IAA,
Inc.,
5.50%,
6/15/2027
(a)
37,000
36,199
IHO
Verwaltungs
GmbH
4.75%,
9/15/2026
(a)(c)
25,000
23,525
6.00%,
5/15/2027
(a)(c)
20,000
18,636
6.38%,
5/15/2029
(a)(c)
55,000
52,384
Installed
Building
Products,
Inc.,
5.75%,
2/01/2028
(a)
10,000
9,482
International
Game
Technology
PLC
6.50%,
2/15/2025
(a)
20,000
20,342
6.25%,
1/15/2027
(a)
10,000
10,167
5.25%,
1/15/2029
(a)
20,000
18,996
IRB
Holding
Corp.,
7.00%,
6/15/2025
(a)
20,000
20,467
101
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
Jaguar
Land
Rover
Automotive
PLC
4.50%,
10/01/2027
(a)
40,000
33,326
5.88%,
1/15/2028
(a)
29,740
25,609
5.50%,
7/15/2029
(a)
25,000
20,873
JB
Poindexter
&
Co.,
Inc.,
7.13%,
4/15/2026
(a)
15,000
15,044
K
Hovnanian
Enterprises,
Inc.,
10.50%,
2/15/2026
(a)
10,000
10,218
KAR
Auction
Services,
Inc.,
5.13%,
6/01/2025
(a)
40,000
40,545
KB
Home,
6.88%,
6/15/2027
10,000
10,376
KFC
Holding
Co.
/
Pizza
Hut
Holdings
LLC
/
Taco
Bell
of
America
LLC,
4.75%,
6/01/2027
(a)
10,000
9,976
Kontoor
Brands,
Inc.,
4.13%,
11/15/2029
(a)
34,000
29,717
LBM
Acquisition
LLC,
6.25%,
1/15/2029
(a)
15,000
12,322
LCM
Investments
Holdings
II
LLC,
4.88%,
5/01/2029
(a)
30,000
26,310
Levi
Strauss
&
Co.,
3.50%,
3/01/2031
(a)(b)
5,000
4,351
LGI
Homes,
Inc.,
4.00%,
7/15/2029
(a)
25,000
20,694
Life
Time,
Inc.,
8.00%,
4/15/2026
(a)
10,000
9,769
Lions
Gate
Capital
Holdings
LLC,
5.50%,
4/15/2029
(a)
30,000
26,571
Lithia
Motors,
Inc.
4.63%,
12/15/2027
(a)
7,000
6,755
3.88%,
6/01/2029
(a)
25,000
22,710
4.38%,
1/15/2031
(a)
15,000
13,837
Live
Nation
Entertainment,
Inc.
4.88%,
11/01/2024
(a)
40,000
39,607
5.63%,
3/15/2026
(a)
11,000
10,921
6.50%,
5/15/2027
(a)
50,000
51,518
4.75%,
10/15/2027
(a)
50,000
47,001
3.75%,
1/15/2028
(a)
25,000
22,707
LSF9
Atlantis
Holdings
LLC
/
Victra
Finance
Corp.,
7.75%,
2/15/2026
(a)
15,000
13,521
M/I
Homes,
Inc.,
4.95%,
2/01/2028
8,000
7,372
Macy's
Retail
Holdings
LLC
5.88%,
4/01/2029
(a)
15,000
14,286
5.88%,
3/15/2030
(a)
10,000
9,393
6.38%,
3/15/2037
10,000
8,622
5.13%,
1/15/2042
10,000
7,475
4.30%,
2/15/2043
25,000
17,211
Majordrive
Holdings
IV
LLC,
6.38%,
6/01/2029
(a)
20,000
15,754
Marriott
Ownership
Resorts,
Inc.,
6.13%,
9/15/2025
(a)
41,000
41,990
Mattamy
Group
Corp.
5.25%,
12/15/2027
(a)
15,000
14,027
4.63%,
3/01/2030
(a)
18,000
15,361
Mattel,
Inc.
5.88%,
12/15/2027
(a)
10,000
10,226
5.45%,
11/01/2041
5,000
5,020
Melco
Resorts
Finance
Ltd.
5.75%,
7/21/2028
(a)
15,000
12,420
5.38%,
12/04/2029
(a)
60,000
48,299
Meritage
Homes
Corp.,
6.00%,
6/01/2025
27,000
27,515
Meritor,
Inc.
6.25%,
6/01/2025
(a)
25,000
25,884
4.50%,
12/15/2028
(a)
10,000
9,987
Merlin
Entertainments
Ltd.,
5.75%,
6/15/2026
(a)
5,000
4,907
MGM
China
Holdings
Ltd.
5.38%,
5/15/2024
(a)
20,000
18,695
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
5.88%,
5/15/2026
(a)
30,000
26,612
4.75%,
2/01/2027
(a)
50,000
42,033
MGM
Resorts
International
6.75%,
5/01/2025
10,000
10,246
5.75%,
6/15/2025
20,000
19,857
4.63%,
9/01/2026
15,000
14,129
5.50%,
4/15/2027
15,000
14,563
4.75%,
10/15/2028
15,000
13,782
Michaels
Cos.,
Inc.
(The),
7.88%,
5/01/2029
(a)
40,000
31,753
Midwest
Gaming
Borrower
LLC
/
Midwest
Gaming
Finance
Corp.,
4.88%,
5/01/2029
(a)
30,000
26,497
Mohegan
Gaming
&
Entertainment
7.88%,
10/15/2024
(a)
10,000
10,238
8.00%,
2/01/2026
(a)
45,000
39,755
Murphy
Oil
USA,
Inc.
5.63%,
5/01/2027
12,000
11,971
4.75%,
9/15/2029
20,000
19,037
3.75%,
2/15/2031
(a)(b)
20,000
17,648
NCL
Corp.
Ltd.
3.63%,
12/15/2024
(a)
10,000
9,317
5.88%,
3/15/2026
(a)
60,000
55,154
New
Home
Co.,
Inc.
(The),
7.25%,
10/15/2025
(a)
30,000
28,498
Newell
Brands,
Inc.
4.88%,
6/01/2025
30,000
30,346
4.45%,
4/01/2026
45,000
44,503
5.63%,
4/01/2036
10,000
9,562
5.75%,
4/01/2046
16,000
14,905
NMG
Holding
Co.,
Inc.
/
Neiman
Marcus
Group
LLC,
7.13%,
4/01/2026
(a)
50,000
49,911
Nordstrom,
Inc.
4.00%,
3/15/2027
(b)
35,000
32,499
6.95%,
3/15/2028
(b)
20,000
20,463
4.38%,
4/01/2030
(b)
55,000
48,414
4.25%,
8/01/2031
40,000
34,200
5.00%,
1/15/2044
(b)
90,000
73,800
Papa
John's
International,
Inc.,
3.88%,
9/15/2029
(a)
33,000
29,133
Party
City
Holdings,
Inc.,
8.75%,
2/15/2026
(a)
35,000
32,151
Patrick
Industries,
Inc.
7.50%,
10/15/2027
(a)
30,000
30,342
4.75%,
5/01/2029
(a)
50,000
42,719
Peninsula
Pacific
Entertainment
LLC
/
Peninsula
Pacific
Entertainment
Finance
Inc.,
8.50%,
11/15/2027
(a)
25,000
27,380
Penske
Automotive
Group,
Inc.,
3.50%,
9/01/2025
(b)
15,000
14,547
PetSmart,
Inc.
/
PetSmart
Finance
Corp.
4.75%,
2/15/2028
(a)
75,000
69,761
7.75%,
2/15/2029
(a)
55,000
54,725
Picasso
Finance
Sub,
Inc.,
6.13%,
6/15/2025
(a)
4,000
4,076
PM
General
Purchaser
LLC,
9.50%,
10/01/2028
(a)
10,000
9,550
Premier
Entertainment
Sub
LLC
/
Premier
Entertainment
Finance
Corp.
5.63%,
9/01/2029
(a)
30,000
23,944
5.88%,
9/01/2031
(a)
30,000
23,279
QVC,
Inc.
4.85%,
4/01/2024
20,000
19,880
4.45%,
2/15/2025
20,000
19,389
102
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
4.75%,
2/15/2027
35,000
31,400
4.38%,
9/01/2028
15,000
12,750
5.45%,
8/15/2034
15,000
12,134
5.95%,
3/15/2043
10,000
7,803
Raptor
Acquisition
Corp.
/
Raptor
Co.-Issuer
LLC,
4.88%,
11/01/2026
(a)
10,000
9,401
Rite
Aid
Corp.
7.50%,
7/01/2025
(a)
30,000
25,731
8.00%,
11/15/2026
(a)
35,000
29,396
7.70%,
2/15/2027
(b)
40,000
27,957
Royal
Caribbean
Cruises
Ltd.
10.88%,
6/01/2023
(a)
70,000
73,265
9.13%,
6/15/2023
(a)
20,000
20,662
5.50%,
8/31/2026
(a)
30,000
27,960
5.38%,
7/15/2027
(a)
30,000
27,568
7.50%,
10/15/2027
35,000
35,572
3.70%,
3/15/2028
20,000
16,805
5.50%,
4/01/2028
(a)(b)
40,000
36,484
Sally
Holdings
LLC
/
Sally
Capital,
Inc.,
8.75%,
4/30/2025
(a)
20,000
20,971
Scientific
Games
International,
Inc.
8.63%,
7/01/2025
(a)
20,000
21,000
7.00%,
5/15/2028
(a)
21,000
21,508
7.25%,
11/15/2029
(a)
10,000
10,496
Scotts
Miracle-GRO
Co.
(The),
4.50%,
10/15/2029
(b)
15,000
13,291
SeaWorld
Parks
&
Entertainment,
Inc.,
5.25%,
8/15/2029
(a)
45,000
40,970
Shea
Homes
LP
/
Shea
Homes
Funding
Corp.,
4.75%,
2/15/2028
(a)
20,000
17,828
Six
Flags
Entertainment
Corp.
4.88%,
7/31/2024
(a)
35,000
34,871
5.50%,
4/15/2027
(a)
30,000
29,436
Six
Flags
Theme
Parks,
Inc.,
7.00%,
7/01/2025
(a)
15,000
15,577
Sizzling
Platter
LLC
/
Sizzling
Platter
Finance
Corp.,
8.50%,
11/28/2025
(a)
25,000
22,795
Specialty
Building
Products
Holdings
LLC
/
SBP
Finance
Corp.,
6.38%,
9/30/2026
(a)
10,000
9,824
Speedway
Motorsports
LLC
/
Speedway
Funding
II,
Inc.,
4.88%,
11/01/2027
(a)
41,000
39,103
Spirit
Loyalty
Cayman
Ltd.
/
Spirit
IP
Cayman
Ltd.,
8.00%,
9/20/2025
(a)
5,640
5,953
SRS
Distribution,
Inc.
6.13%,
7/01/2029
(a)(b)
15,000
13,231
6.00%,
12/01/2029
(a)
20,000
17,500
Staples,
Inc.
7.50%,
4/15/2026
(a)
90,000
85,930
10.75%,
4/15/2027
(a)
30,000
26,547
Station
Casinos
LLC,
4.50%,
2/15/2028
(a)
40,000
36,339
Studio
City
Finance
Ltd.
6.00%,
7/15/2025
(a)
10,000
8,458
6.50%,
1/15/2028
(a)
10,000
7,770
5.00%,
1/15/2029
(a)
50,000
34,090
Suburban
Propane
Partners
LP/Suburban
Energy
Finance
Corp.,
5.88%,
3/01/2027
20,000
19,963
Sugarhouse
HSP
Gaming
Prop
Mezz
LP
/
Sugarhouse
HSP
Gaming
Finance
Corp.,
5.88%,
5/15/2025
(a)
15,000
14,701
Superior
Plus
LP
/
Superior
General
Partner,
Inc.,
4.50%,
3/15/2029
(a)
10,000
9,134
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
Taylor
Morrison
Communities,
Inc.
6.63%,
7/15/2027
(a)
15,000
15,081
5.75%,
1/15/2028
(a)
15,000
14,725
5.13%,
8/01/2030
(a)
20,000
18,300
Taylor
Morrison
Communities,
Inc.
/
Taylor
Morrison
Holdings
II,
Inc.,
5.63%,
3/01/2024
(a)
13,000
13,071
Tempur
Sealy
International,
Inc.
4.00%,
4/15/2029
(a)
30,000
26,024
3.88%,
10/15/2031
(a)
30,000
24,906
Tenneco,
Inc.,
5.13%,
4/15/2029
(a)
10,000
9,741
TKC
Holdings,
Inc.,
6.88%,
5/15/2028
(a)
30,000
28,673
TPro
Acquisition
Corp.,
11.00%,
10/15/2024
(a)
30,000
31,347
Travel
+
Leisure
Co.
5.65%,
4/01/2024
2,000
2,021
6.60%,
10/01/2025
10,000
10,399
6.63%,
7/31/2026
(a)
23,000
23,523
6.00%,
4/01/2027
11,000
10,998
4.63%,
3/01/2030
(a)
7,000
6,260
TRI
Pointe
Group,
Inc.
5.25%,
6/01/2027
10,000
9,701
5.70%,
6/15/2028
6,000
5,762
Under
Armour,
Inc.,
3.25%,
6/15/2026
10,000
9,235
United
Airlines
Holdings,
Inc.
5.00%,
2/01/2024
10,000
9,964
4.88%,
1/15/2025
(b)
10,000
9,688
United
Airlines,
Inc.
4.38%,
4/15/2026
(a)
55,000
52,998
4.63%,
4/15/2029
(a)
35,000
32,157
Univar
Solutions
USA,
Inc.,
5.13%,
12/01/2027
(a)
15,000
14,460
Victoria's
Secret
&
Co.,
4.63%,
7/15/2029
(a)
30,000
24,713
Viking
Cruises
Ltd.
13.00%,
5/15/2025
(a)
40,000
43,818
5.88%,
9/15/2027
(a)
60,000
50,945
VOC
Escrow
Ltd.,
5.00%,
2/15/2028
(a)
20,000
18,058
Wabash
National
Corp.,
4.50%,
10/15/2028
(a)
35,000
29,277
Wheel
Pros,
Inc.,
6.50%,
5/15/2029
(a)(b)
30,000
22,800
White
Capital
Buyer
LLC,
6.88%,
10/15/2028
(a)
20,000
18,432
White
Capital
Parent
LLC,
8.25%,
3/15/2026
(a)
(b)(c)
25,000
24,314
William
Carter
Co.
(The),
5.63%,
3/15/2027
(a)
20,000
19,926
Winnebago
Industries,
Inc.,
6.25%,
7/15/2028
(a)
30,000
29,819
WMG
Acquisition
Corp.,
3.75%,
12/01/2029
(a)
5,000
4,483
Wolverine
Escrow
LLC,
8.50%,
11/15/2024
(a)(b)
60,000
33,383
Wyndham
Hotels
&
Resorts,
Inc.,
4.38%,
8/15/2028
(a)
10,000
9,323
Wynn
Las
Vegas
LLC
/
Wynn
Las
Vegas
Capital
Corp.
5.50%,
3/01/2025
(a)
40,000
38,700
5.25%,
5/15/2027
(a)(b)
15,000
13,815
Wynn
Macau
Ltd.
5.50%,
1/15/2026
(a)
25,000
21,680
5.50%,
10/01/2027
(a)
45,000
36,638
5.63%,
8/26/2028
(a)
65,000
52,166
5.13%,
12/15/2029
(a)(b)
50,000
39,439
Wynn
Resorts
Finance
LLC
/
Wynn
Resorts
Capital
Corp.
7.75%,
4/15/2025
(a)
30,000
30,930
5.13%,
10/01/2029
(a)
30,000
26,287
103
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Cyclical
–
20.5%
(continued)
Yum!
Brands,
Inc.
3.88%,
11/01/2023
17,000
17,121
4.75%,
1/15/2030
(a)
55,000
52,283
3.63%,
3/15/2031
65,000
55,891
4.63%,
1/31/2032
40,000
36,506
5.38%,
4/01/2032
65,000
62,158
6.88%,
11/15/2037
10,000
10,607
ZF
North
America
Capital,
Inc.,
4.75%,
4/29/2025
(a)
27,000
26,411
8,681,806
Consumer,
Non-cyclical
–
16.7%
Acadia
Healthcare
Co.,
Inc.
5.50%,
7/01/2028
(a)
15,000
14,606
5.00%,
4/15/2029
(a)
5,000
4,741
AdaptHealth
LLC
6.13%,
8/01/2028
(a)
10,000
9,491
4.63%,
8/01/2029
(a)
20,000
17,039
ADT
Security
Corp.
(The)
4.13%,
8/01/2029
(a)
30,000
25,518
4.88%,
7/15/2032
(a)
5,000
4,242
Adtalem
Global
Education,
Inc.,
5.50%,
3/01/2028
(a)
11,000
10,093
Ahern
Rentals,
Inc.,
7.38%,
5/15/2023
(a)
43,000
40,420
Air
Methods
Corp.,
8.00%,
5/15/2025
(a)
25,000
20,537
Akumin
Escrow,
Inc.,
7.50%,
8/01/2028
(a)
55,000
44,101
Akumin,
Inc.,
7.00%,
11/01/2025
(a)
10,000
8,481
Albertsons
Cos.,
Inc.
/
Safeway,
Inc.
/
New
Albertsons
LP
/
Albertsons
LLC
3.25%,
3/15/2026
(a)
25,000
22,856
7.50%,
3/15/2026
(a)
23,000
24,203
4.63%,
1/15/2027
(a)
35,000
32,784
5.88%,
2/15/2028
(a)
30,000
29,159
3.50%,
3/15/2029
(a)
55,000
46,298
4.88%,
2/15/2030
(a)
60,000
54,343
Albion
Financing
1
Sarl
/
Aggreko
Holdings,
Inc.,
6.13%,
10/15/2026
(a)
20,000
18,873
Albion
Financing
2
Sarl,
8.75%,
4/15/2027
(a)
5,000
4,746
Allied
Universal
Holdco
LLC
/
Allied
Universal
Finance
Corp.
6.63%,
7/15/2026
(a)
55,000
53,158
9.75%,
7/15/2027
(a)
28,000
27,197
6.00%,
6/01/2029
(a)
30,000
24,825
Allied
Universal
Holdco
LLC
/
Allied
Universal
Finance
Corp.
/
Atlas
Luxco
4
Sarl
4.63%,
6/01/2028
(a)
50,000
44,275
4.63%,
6/01/2028
(a)
50,000
44,294
AMN
Healthcare,
Inc.,
4.63%,
10/01/2027
(a)
15,000
14,411
Aptim
Corp.,
7.75%,
6/15/2025
(a)
10,000
7,844
APX
Group,
Inc.
6.75%,
2/15/2027
(a)
20,000
19,819
5.75%,
7/15/2029
(a)
25,000
20,508
ASGN,
Inc.,
4.63%,
5/15/2028
(a)
20,000
18,581
Avantor
Funding,
Inc.,
4.63%,
7/15/2028
(a)
45,000
42,957
Avis
Budget
Car
Rental
LLC
/
Avis
Budget
Finance,
Inc.,
5.75%,
7/15/2027
(a)
10,000
9,875
B&G
Foods,
Inc.
5.25%,
4/01/2025
40,000
38,082
5.25%,
9/15/2027
(b)
52,000
47,621
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Non-cyclical
–
16.7%
(continued)
Bausch
Health
Americas,
Inc.
9.25%,
4/01/2026
(a)
48,000
47,611
8.50%,
1/31/2027
(a)(b)
55,000
52,072
Bausch
Health
Cos.,
Inc.
6.13%,
4/15/2025
(a)
82,000
82,217
5.50%,
11/01/2025
(a)
50,000
48,365
9.00%,
12/15/2025
(a)
45,000
45,184
6.13%,
2/01/2027
(a)
45,000
43,266
5.75%,
8/15/2027
(a)
15,000
14,072
7.00%,
1/15/2028
(a)
28,000
22,989
5.00%,
1/30/2028
(a)
55,000
40,637
5.00%,
2/15/2029
(a)
50,000
35,178
6.25%,
2/15/2029
(a)
25,000
18,224
7.25%,
5/30/2029
(a)
17,000
12,848
5.25%,
1/30/2030
(a)
40,000
27,757
5.25%,
2/15/2031
(a)
55,000
38,217
Block,
Inc.
2.75%,
6/01/2026
(a)
25,000
22,831
3.50%,
6/01/2031
(a)
40,000
33,488
Brink's
Co.
(The)
5.50%,
7/15/2025
(a)
20,000
20,075
4.63%,
10/15/2027
(a)
20,000
18,953
Cano
Health
LLC,
6.25%,
10/01/2028
(a)(b)
15,000
13,909
Catalent
Pharma
Solutions,
Inc.
5.00%,
7/15/2027
(a)
5,000
4,866
3.13%,
2/15/2029
(a)
15,000
13,006
Centene
Corp.
4.25%,
12/15/2027
60,000
58,198
2.45%,
7/15/2028
65,000
56,736
4.63%,
12/15/2029
125,000
121,129
3.38%,
2/15/2030
50,000
44,674
3.00%,
10/15/2030
60,000
52,050
2.50%,
3/01/2031
90,000
74,791
2.63%,
8/01/2031
40,000
33,363
Central
Garden
&
Pet
Co.
5.13%,
2/01/2028
5,000
4,798
4.13%,
10/15/2030
(b)
30,000
25,999
Charles
River
Laboratories
International,
Inc.
4.25%,
5/01/2028
(a)
25,000
23,861
3.75%,
3/15/2029
(a)
50,000
45,396
Cheplapharm
Arzneimittel
GMBH,
5.50%,
1/15/2028
(a)
5,000
4,786
Chobani
LLC
/
Chobani
Finance
Corp.,
Inc.,
7.50%,
4/15/2025
(a)(b)
15,000
14,118
CHS/Community
Health
Systems,
Inc.
8.00%,
3/15/2026
(a)
65,000
67,246
5.63%,
3/15/2027
(a)
50,000
47,699
6.88%,
4/01/2028
(a)
20,000
15,712
6.88%,
4/15/2029
(a)
50,000
43,870
6.13%,
4/01/2030
(a)
50,000
41,110
5.25%,
5/15/2030
(a)
30,000
26,319
4.75%,
2/15/2031
(a)
25,000
21,155
Cimpress
PLC,
7.00%,
6/15/2026
(a)
40,000
37,568
CoreCivic,
Inc.
4.63%,
5/01/2023
(b)
38,000
38,032
8.25%,
4/15/2026
30,000
30,722
4.75%,
10/15/2027
45,000
39,659
Coty,
Inc.,
6.50%,
4/15/2026
(a)
20,000
19,451
104
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Non-cyclical
–
16.7%
(continued)
Coty,
Inc.
/
HFC
Prestige
Products,
Inc.
/
HFC
Prestige
International
US
LLC,
4.75%,
1/15/2029
(a)
38,000
33,861
Darling
Ingredients,
Inc.,
5.25%,
4/15/2027
(a)
18,000
18,054
DaVita,
Inc.
4.63%,
6/01/2030
(a)
100,000
87,179
3.75%,
2/15/2031
(a)
50,000
40,738
Del
Monte
Foods,
Inc.,
11.88%,
5/15/2025
(a)
10,000
10,923
Deluxe
Corp.,
8.00%,
6/01/2029
(a)
35,000
33,529
Edgewell
Personal
Care
Co.
5.50%,
6/01/2028
(a)
25,000
24,191
4.13%,
4/01/2029
(a)
15,000
13,361
Elanco
Animal
Health,
Inc.,
6.40%,
8/28/2028
22,000
22,785
Embecta
Corp.,
5.00%,
2/15/2030
(a)
42,000
38,035
Emergent
Biosolutions,
Inc.,
3.88%,
8/15/2028
(a)(b)
15,000
12,729
Encompass
Health
Corp.
4.50%,
2/01/2028
35,000
32,225
4.75%,
2/01/2030
35,000
31,665
4.63%,
4/01/2031
15,000
13,254
ENDO
DAC
/
ENDO
Finance
LLC
/
ENDO
Finco,
Inc.
9.50%,
7/31/2027
(a)
40,000
31,623
6.00%,
6/30/2028
(a)
85,000
37,488
Envision
Healthcare
Corp.,
8.75%,
10/15/2026
(a)
15,000
6,236
Garda
World
Security
Corp.
4.63%,
2/15/2027
(a)
15,000
13,650
9.50%,
11/01/2027
(a)
15,000
14,817
Gartner,
Inc.
4.50%,
7/01/2028
(a)
15,000
14,391
3.63%,
6/15/2029
(a)
50,000
45,144
3.75%,
10/01/2030
(a)
25,000
22,365
Global
Medical
Response,
Inc.,
6.50%,
10/01/2025
(a)
20,000
19,308
Graham
Holdings
Co.,
5.75%,
6/01/2026
(a)
11,000
11,106
Grand
Canyon
University,
4.13%,
10/01/2024
10,000
9,753
Hadrian
Merger
Sub,
Inc.,
8.50%,
5/01/2026
(a)
15,000
14,918
HCA,
Inc.
5.88%,
5/01/2023
35,000
36,127
8.36%,
4/15/2024
21,000
22,529
5.38%,
2/01/2025
98,000
100,811
7.69%,
6/15/2025
20,000
21,624
5.88%,
2/15/2026
22,000
22,792
5.38%,
9/01/2026
20,000
20,483
7.05%,
12/01/2027
5,000
5,511
5.63%,
9/01/2028
55,000
56,845
5.88%,
2/01/2029
25,000
26,047
3.50%,
9/01/2030
82,000
73,509
7.50%,
11/15/2095
5,000
5,804
HealthEquity,
Inc.,
4.50%,
10/01/2029
(a)
20,000
18,274
Herbalife
Nutrition
Ltd.
/
HLF
Financing,
Inc.,
7.88%,
9/01/2025
(a)
35,000
34,429
Herc
Holdings,
Inc.,
5.50%,
7/15/2027
(a)
40,000
39,188
Hertz
Corp.
(The)
4.63%,
12/01/2026
(a)
15,000
13,700
5.00%,
12/01/2029
(a)
40,000
35,015
H-Food
Holdings
LLC
/
Hearthside
Finance
Co.,
Inc.,
8.50%,
6/01/2026
(a)
45,000
42,334
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Non-cyclical
–
16.7%
(continued)
HLF
Financing
Sarl
LLC
/
Herbalife
International,
Inc.,
4.88%,
6/01/2029
(a)
50,000
40,348
Hologic,
Inc.
4.63%,
2/01/2028
(a)
15,000
14,707
3.25%,
2/15/2029
(a)
40,000
35,669
Horizon
Therapeutics
USA,
Inc.,
5.50%,
8/01/2027
(a)
17,000
16,991
Ingles
Markets,
Inc.,
4.00%,
6/15/2031
(a)
15,000
13,485
IQVIA,
Inc.
5.00%,
10/15/2026
(a)
25,000
24,899
5.00%,
5/15/2027
(a)
50,000
49,608
Jazz
Securities
DAC,
4.38%,
1/15/2029
(a)
50,000
46,234
Korn
Ferry,
4.63%,
12/15/2027
(a)
5,000
4,773
Kronos
Acquisition
Holdings,
Inc.
/
KIK
Custom
Products,
Inc.
5.00%,
12/31/2026
(a)
50,000
44,721
7.00%,
12/31/2027
(a)
5,000
3,978
Lamb
Weston
Holdings,
Inc.
4.88%,
5/15/2028
(a)
25,000
24,358
4.13%,
1/31/2030
(a)
50,000
44,596
4.38%,
1/31/2032
(a)
30,000
26,934
Land
O'Lakes
Capital
Trust
I,
7.45%,
3/15/2028
(a)
30,000
33,434
Lannett
Co.,
Inc.,
7.75%,
4/15/2026
(a)
35,000
18,505
Legacy
LifePoint
Health
LLC
6.75%,
4/15/2025
(a)
35,000
35,713
4.38%,
2/15/2027
(a)
10,000
9,254
Legends
Hospitality
Holding
Co.
LLC
/
Legends
Hospitality
Co.-Issuer,
Inc.,
5.00%,
2/01/2026
(a)
10,000
9,399
LifePoint
Health,
Inc.,
5.38%,
1/15/2029
(a)(b)
15,000
12,825
Metis
Merger
Sub
LLC,
6.50%,
5/15/2029
(a)
25,000
21,750
ModivCare
Escrow
Issuer,
Inc.,
5.00%,
10/01/2029
(a)
20,000
17,507
ModivCare,
Inc.,
5.88%,
11/15/2025
(a)
10,000
9,807
Molina
Healthcare,
Inc.,
4.38%,
6/15/2028
(a)
25,000
23,354
Mozart
Debt
Merger
Sub,
Inc.
3.88%,
4/01/2029
(a)
170,000
148,632
5.25%,
10/01/2029
(a)(b)
80,000
69,591
MPH
Acquisition
Holdings
LLC
5.50%,
9/01/2028
(a)
30,000
27,761
5.75%,
11/01/2028
(a)(b)
70,000
60,921
Nesco
Holdings
II,
Inc.,
5.50%,
4/15/2029
(a)
15,000
14,131
Nielsen
Co.
Luxembourg
Sarl
(The),
5.00%,
2/01/2025
(a)(b)
18,000
18,040
Nielsen
Finance
LLC
/
Nielsen
Finance
Co.
5.63%,
10/01/2028
(a)
15,000
14,529
4.50%,
7/15/2029
(a)
40,000
37,778
5.88%,
10/01/2030
(a)
10,000
9,608
Organon
&
Co.
/
Organon
Foreign
Debt
Co.-
Issuer
BV
4.13%,
4/30/2028
(a)
80,000
74,313
5.13%,
4/30/2031
(a)
50,000
45,222
Ortho-Clinical
Diagnostics,
Inc.
/
Ortho-Clinical
Diagnostics
SA,
7.25%,
2/01/2028
(a)
13,000
13,210
P&L
Development
LLC
/
PLD
Finance
Corp.,
7.75%,
11/15/2025
(a)
25,000
22,192
PAR
Pharmaceutical,
Inc.,
7.50%,
4/01/2027
(a)
31,000
28,304
105
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Non-cyclical
–
16.7%
(continued)
Performance
Food
Group,
Inc.
5.50%,
10/15/2027
(a)
35,000
33,944
4.25%,
8/01/2029
(a)
40,000
35,585
Perrigo
Co.
PLC,
4.00%,
11/15/2023
30,000
30,556
Perrigo
Finance
Unlimited
Co.
3.90%,
12/15/2024
50,000
49,040
4.38%,
3/15/2026
80,000
77,433
3.90%,
6/15/2030
90,000
80,786
4.90%,
12/15/2044
20,000
16,091
Pilgrim's
Pride
Corp.
5.88%,
9/30/2027
(a)
50,000
50,349
4.25%,
4/15/2031
(a)
40,000
36,354
Post
Holdings,
Inc.
5.63%,
1/15/2028
(a)
35,000
33,124
5.50%,
12/15/2029
(a)
55,000
49,990
4.63%,
4/15/2030
(a)
80,000
68,418
4.50%,
9/15/2031
(a)
75,000
62,550
Prestige
Brands,
Inc.
5.13%,
1/15/2028
(a)
10,000
9,580
3.75%,
4/01/2031
(a)
10,000
8,487
Prime
Healthcare
Services,
Inc.,
7.25%,
11/01/2025
(a)
20,000
20,050
Prime
Security
Services
Borrower
LLC
/
Prime
Finance,
Inc.
5.25%,
4/15/2024
(a)
25,000
24,958
5.75%,
4/15/2026
(a)
40,000
38,447
3.38%,
8/31/2027
(a)
30,000
25,703
6.25%,
1/15/2028
(a)
35,000
31,413
Radiology
Partners,
Inc.,
9.25%,
2/01/2028
(a)
20,000
19,036
RegionalCare
Hospital
Partners
Holdings,
Inc.
/
LifePoint
Health,
Inc.,
9.75%,
12/01/2026
(a)
26,000
26,706
Rent-A-Center,
Inc.,
6.38%,
2/15/2029
(a)(b)
20,000
17,418
RP
Escrow
Issuer
LLC,
5.25%,
12/15/2025
(a)(b)
15,000
14,096
Sabre
GLBL,
Inc.
9.25%,
4/15/2025
(a)
15,000
16,025
7.38%,
9/01/2025
(a)
55,000
55,675
SEG
Holding
LLC
/
SEG
Finance
Corp.,
5.63%,
10/15/2028
(a)
40,000
39,040
Select
Medical
Corp.,
6.25%,
8/15/2026
(a)
36,000
35,730
Service
Corp.
International
4.63%,
12/15/2027
20,000
19,486
5.13%,
6/01/2029
23,000
22,686
3.38%,
8/15/2030
25,000
21,612
4.00%,
5/15/2031
20,000
18,067
Shift4
Payments
LLC
/
Shift4
Payments
Finance
Sub,
Inc.,
4.63%,
11/01/2026
(a)
10,000
9,578
Simmons
Foods,
Inc./Simmons
Prepared
Foods,
Inc./Simmons
Pet
Food,
Inc./Simmons
Feed,
4.63%,
3/01/2029
(a)
10,000
9,020
Sotheby's,
7.38%,
10/15/2027
(a)
20,000
19,711
Sotheby's
/
Bidfair
Holdings
Inc.,
5.88%,
6/01/2029
(a)
30,000
28,312
Spectrum
Brands,
Inc.
5.00%,
10/01/2029
(a)
32,000
29,776
3.88%,
3/15/2031
(a)
10,000
8,415
Surgery
Center
Holdings,
Inc.
6.75%,
7/01/2025
(a)(b)
10,000
9,880
10.00%,
4/15/2027
(a)
15,000
15,686
Syneos
Health,
Inc.,
3.63%,
1/15/2029
(a)
10,000
8,850
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Consumer,
Non-cyclical
–
16.7%
(continued)
Team
Health
Holdings,
Inc.,
6.38%,
2/01/2025
(a)
20,000
17,068
Teleflex,
Inc.
4.63%,
11/15/2027
5,000
4,890
4.25%,
6/01/2028
(a)
15,000
14,133
Tenet
Healthcare
Corp.
6.75%,
6/15/2023
51,000
52,488
4.63%,
9/01/2024
(a)
15,000
14,931
4.88%,
1/01/2026
(a)
40,000
38,995
6.25%,
2/01/2027
(a)
50,000
49,637
5.13%,
11/01/2027
(a)
42,000
40,969
4.63%,
6/15/2028
(a)
55,000
51,952
6.13%,
10/01/2028
(a)
95,000
91,143
4.25%,
6/01/2029
(a)
40,000
36,216
4.38%,
1/15/2030
(a)
35,000
31,850
6.88%,
11/15/2031
10,000
10,361
TreeHouse
Foods,
Inc.,
4.00%,
9/01/2028
15,000
12,297
Trinet
Group,
Inc.,
3.50%,
3/01/2029
(a)
20,000
18,197
Triton
Water
Holdings,
Inc.,
6.25%,
4/01/2029
(a)
25,000
20,721
Turning
Point
Brands,
Inc.,
5.63%,
2/15/2026
(a)
20,000
19,024
United
Rentals
North
America,
Inc.
4.88%,
1/15/2028
55,000
53,531
5.25%,
1/15/2030
20,000
19,633
4.00%,
7/15/2030
25,000
22,375
3.88%,
2/15/2031
(b)
25,000
22,128
3.75%,
1/15/2032
20,000
17,419
US
Acute
Care
Solutions
LLC,
6.38%,
3/01/2026
(a)
32,000
31,157
US
Foods,
Inc.
6.25%,
4/15/2025
(a)
35,000
35,987
4.75%,
2/15/2029
(a)
40,000
36,927
US
Renal
Care,
Inc.,
10.63%,
7/15/2027
(a)
15,000
13,043
Vector
Group
Ltd.
10.50%,
11/01/2026
(a)
20,000
20,463
5.75%,
2/01/2029
(a)
65,000
57,210
Verscend
Escrow
Corp.,
9.75%,
8/15/2026
(a)
60,000
61,800
Wash
Multifamily
Acquisition,
Inc.,
5.75%,
4/15/2026
(a)
40,000
38,954
Williams
Scotsman
International,
Inc.,
4.63%,
8/15/2028
(a)
15,000
14,219
7,082,997
Diversified
–
0.1%
Stena
AB,
7.00%,
2/01/2024
(a)
10,000
9,979
Stena
International
SA,
6.13%,
2/01/2025
(a)
23,000
22,857
32,836
Energy
–
12.0%
Aethon
United
BR
LP
/
Aethon
United
Finance
Corp.,
8.25%,
2/15/2026
(a)
25,000
25,819
AI
Candelaria
Spain
SLU,
7.50%,
12/15/2028
(a)
11,000
10,655
Alliance
Resource
Operating
Partners
LP
/
Alliance
Resource
Finance
Corp.,
7.50%,
5/01/2025
(a)
15,000
15,036
Antero
Midstream
Partners
LP
/
Antero
Midstream
Finance
Corp.
7.88%,
5/15/2026
(a)
20,000
20,915
5.75%,
3/01/2027
(a)
10,000
9,804
5.75%,
1/15/2028
(a)
20,000
19,419
5.38%,
6/15/2029
(a)
25,000
23,497
Antero
Resources
Corp.
8.38%,
7/15/2026
(a)
12,000
12,939
106
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Energy
–
12.0%
(continued)
7.63%,
2/01/2029
(a)
10,000
10,590
5.38%,
3/01/2030
(a)
10,000
9,783
Apache
Corp.
4.25%,
1/15/2030
35,000
32,653
6.00%,
1/15/2037
5,000
5,177
5.10%,
9/01/2040
35,000
31,676
7.38%,
8/15/2047
5,000
5,351
Archrock
Partners
LP
/
Archrock
Partners
Finance
Corp.
6.88%,
4/01/2027
(a)
5,000
4,982
6.25%,
4/01/2028
(a)
30,000
29,106
Ascent
Resources
Utica
Holdings
LLC
/
ARU
Finance
Corp.,
7.00%,
11/01/2026
(a)
45,000
45,332
Baytex
Energy
Corp.
5.63%,
6/01/2024
(a)
3,000
2,989
8.75%,
4/01/2027
(a)
15,000
15,868
Blue
Racer
Midstream
LLC
/
Blue
Racer
Finance
Corp.
7.63%,
12/15/2025
(a)
15,000
15,450
6.63%,
7/15/2026
(a)
10,000
10,013
Buckeye
Partners
LP
4.15%,
7/01/2023
10,000
9,944
4.35%,
10/15/2024
5,000
4,900
4.13%,
3/01/2025
(a)
30,000
28,863
3.95%,
12/01/2026
16,000
15,095
4.50%,
3/01/2028
(a)
15,000
13,684
5.85%,
11/15/2043
16,000
12,580
5.60%,
10/15/2044
15,000
12,023
California
Resources
Corp.,
7.13%,
2/01/2026
(a)
15,000
15,310
Callon
Petroleum
Co.
6.13%,
10/01/2024
30,000
29,627
8.25%,
7/15/2025
20,000
20,066
8.00%,
8/01/2028
(a)(b)
20,000
20,656
Calumet
Specialty
Products
Partners
LP
/
Calumet
Finance
Corp.
9.25%,
7/15/2024
(a)
30,000
31,749
8.13%,
1/15/2027
(a)
14,400
13,020
Centennial
Resource
Production
LLC,
6.88%,
4/01/2027
(a)
10,000
9,967
Cheniere
Energy
Partners
LP
4.50%,
10/01/2029
45,000
43,100
4.00%,
3/01/2031
45,000
40,746
3.25%,
1/31/2032
(a)
35,000
29,906
Cheniere
Energy,
Inc.,
4.63%,
10/15/2028
55,000
53,451
Chesapeake
Energy
Corp.,
6.75%,
4/15/2029
(a)
30,000
30,195
Civitas
Resources,
Inc.,
5.00%,
10/15/2026
(a)
40,000
38,123
Comstock
Resources,
Inc.
7.50%,
5/15/2025
(a)
6,000
6,124
6.75%,
3/01/2029
(a)
40,000
40,425
5.88%,
1/15/2030
(a)
50,000
48,163
CQP
Holdco
LP
/
BIP-V
Chinook
Holdco
LLC,
5.50%,
6/15/2031
(a)
50,000
46,171
Crescent
Energy
Finance
LLC,
7.25%,
5/01/2026
(a)
30,000
29,550
Crestwood
Midstream
Partners
LP
/
Crestwood
Midstream
Finance
Corp.
5.75%,
4/01/2025
15,000
14,813
5.63%,
5/01/2027
(a)
20,000
19,457
6.00%,
2/01/2029
(a)
35,000
34,078
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Energy
–
12.0%
(continued)
CrownRock
LP
/
CrownRock
Finance,
Inc.,
5.63%,
10/15/2025
(a)
35,000
34,998
CVR
Energy,
Inc.
5.25%,
2/15/2025
(a)(b)
20,000
19,337
5.75%,
2/15/2028
(a)
5,000
4,689
DCP
Midstream
Operating
LP
5.38%,
7/15/2025
20,000
20,198
5.63%,
7/15/2027
10,000
10,161
5.13%,
5/15/2029
20,000
19,683
6.45%,
11/03/2036
(a)
10,000
11,183
6.75%,
9/15/2037
(a)
5,000
5,615
5.85%,
5/21/2043
(a)
15,000
13,590
Delek
Logistics
Partners
LP
/
Delek
Logistics
Finance
Corp.
6.75%,
5/15/2025
18,000
17,749
7.13%,
6/01/2028
(a)
13,000
12,441
DT
Midstream,
Inc.
4.13%,
6/15/2029
(a)
50,000
45,400
4.38%,
6/15/2031
(a)
40,000
35,899
Encino
Acquisition
Partners
Holdings
LLC,
8.50%,
5/01/2028
(a)
10,000
10,022
Endeavor
Energy
Resources
LP
/
EER
Finance,
Inc.
6.63%,
7/15/2025
(a)
35,000
35,969
5.75%,
1/30/2028
(a)
30,000
30,077
EnLink
Midstream
LLC,
5.38%,
6/01/2029
5,000
4,869
Enlink
Midstream
Partners
LP,
5.60%,
4/01/2044
10,000
8,211
EnLink
Midstream
Partners
LP
4.40%,
4/01/2024
10,000
9,868
4.15%,
6/01/2025
15,000
14,557
4.85%,
7/15/2026
5,000
4,875
5.45%,
6/01/2047
10,000
8,100
Ensign
Drilling,
Inc.,
9.25%,
4/15/2024
(a)
35,000
34,375
EQM
Midstream
Partners
LP
4.75%,
7/15/2023
16,000
15,941
4.00%,
8/01/2024
30,000
29,036
6.00%,
7/01/2025
(a)
10,000
9,934
4.13%,
12/01/2026
5,000
4,641
6.50%,
7/01/2027
(a)
25,000
25,221
5.50%,
7/15/2028
15,000
14,329
4.50%,
1/15/2029
(a)
10,000
8,999
4.75%,
1/15/2031
(a)
30,000
26,815
Exterran
Energy
Solutions
LP
/
EES
Finance
Corp.,
8.13%,
5/01/2025
5,000
5,017
Genesis
Energy
LP
/
Genesis
Energy
Finance
Corp.
5.63%,
6/15/2024
8,000
7,849
6.50%,
10/01/2025
13,000
12,442
8.00%,
1/15/2027
30,000
29,474
7.75%,
2/01/2028
(b)
44,000
42,325
Global
Marine,
Inc.,
7.00%,
6/01/2028
10,000
7,035
Global
Partners
LP
/
GLP
Finance
Corp.,
7.00%,
8/01/2027
10,000
9,814
Gulfport
Energy
Corp.,
8.00%,
5/17/2026
35,000
36,062
Harvest
Midstream
I
LP,
7.50%,
9/01/2028
(a)
20,000
20,327
Hess
Midstream
Operations
LP
5.63%,
2/15/2026
(a)
30,000
30,020
5.13%,
6/15/2028
(a)
20,000
19,410
4.25%,
2/15/2030
(a)
30,000
27,465
107
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Energy
–
12.0%
(continued)
Hilcorp
Energy
I
LP
/
Hilcorp
Finance
Co.
6.25%,
11/01/2028
(a)
20,000
19,932
5.75%,
2/01/2029
(a)
15,000
14,709
6.00%,
2/01/2031
(a)
20,000
19,311
Holly
Energy
Partners
LP
/
Holly
Energy
Finance
Corp.,
5.00%,
2/01/2028
(a)
30,000
28,525
Howard
Midstream
Energy
Partners
LLC,
6.75%,
1/15/2027
(a)
30,000
29,057
Ithaca
Energy
North
Sea
PLC,
9.00%,
7/15/2026
(a)
20,000
20,410
ITT
Holdings
LLC,
6.50%,
8/01/2029
(a)
65,000
57,527
KCA
Deutag
UK
Finance
PLC,
9.88%,
12/01/2025
(a)
30,000
30,832
Laredo
Petroleum,
Inc.
9.50%,
1/15/2025
15,000
15,446
10.13%,
1/15/2028
25,000
26,358
7.75%,
7/31/2029
(a)
50,000
49,045
Magnolia
Oil
&
Gas
Operating
LLC
/
Magnolia
Oil
&
Gas
Finance
Corp.,
6.00%,
8/01/2026
(a)
10,000
10,008
Matador
Resources
Co.,
5.88%,
9/15/2026
30,000
29,437
MEG
Energy
Corp.
7.13%,
2/01/2027
(a)
27,000
27,418
5.88%,
2/01/2029
(a)
20,000
19,629
Moss
Creek
Resources
Holdings,
Inc.
7.50%,
1/15/2026
(a)
25,000
22,965
10.50%,
5/15/2027
(a)
10,000
9,799
Murphy
Oil
Corp.
6.88%,
8/15/2024
4,000
4,007
5.75%,
8/15/2025
12,000
12,036
5.88%,
12/01/2027
15,000
14,865
6.38%,
7/15/2028
10,000
10,178
6.38%,
12/01/2042
35,000
31,661
Nabors
Industries
Ltd.,
7.25%,
1/15/2026
(a)
15,000
14,679
Nabors
Industries,
Inc.
5.75%,
2/01/2025
10,000
9,565
9.00%,
2/01/2025
(a)
5,000
5,171
Natural
Resource
Partners
LP
/
NRP
Finance
Corp.,
9.13%,
6/30/2025
(a)
42,000
42,626
Neptune
Energy
Bondco
PLC,
6.63%,
5/15/2025
(a)
30,000
29,792
New
Fortress
Energy,
Inc.
6.75%,
9/15/2025
(a)
55,000
54,092
6.50%,
9/30/2026
(a)
65,000
62,865
NGL
Energy
Operating
LLC
/
NGL
Energy
Finance
Corp.,
7.50%,
2/01/2026
(a)
95,000
89,537
NGL
Energy
Partners
LP
/
NGL
Energy
Finance
Corp.
7.50%,
11/01/2023
(b)
15,000
14,012
6.13%,
3/01/2025
10,000
8,369
7.50%,
4/15/2026
15,000
12,562
Northern
Oil
&
Gas,
Inc.,
8.13%,
3/01/2028
(a)
40,000
40,025
Northriver
Midstream
Finance
LP,
5.63%,
2/15/2026
(a)
5,000
4,886
NuStar
Logistics
LP
5.75%,
10/01/2025
15,000
14,881
6.00%,
6/01/2026
15,000
14,933
5.63%,
4/28/2027
30,000
28,804
6.38%,
10/01/2030
20,000
19,708
Oasis
Midstream
Partners
LP
/
OMP
Finance
Corp.,
8.00%,
4/01/2029
(a)
15,000
15,586
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Energy
–
12.0%
(continued)
Oasis
Petroleum,
Inc.,
6.38%,
6/01/2026
(a)
5,000
5,025
Occidental
Petroleum
Corp.
6.95%,
7/01/2024
30,000
31,456
2.90%,
8/15/2024
30,000
29,323
5.88%,
9/01/2025
30,000
30,818
5.50%,
12/01/2025
30,000
30,532
5.55%,
3/15/2026
20,000
20,495
3.00%,
2/15/2027
50,000
46,595
8.50%,
7/15/2027
15,000
16,922
7.15%,
5/15/2028
5,000
5,352
6.38%,
9/01/2028
5,000
5,274
8.88%,
7/15/2030
25,000
30,031
6.63%,
9/01/2030
50,000
54,204
6.13%,
1/01/2031
30,000
31,577
7.50%,
5/01/2031
25,000
28,593
7.88%,
9/15/2031
15,000
17,545
6.45%,
9/15/2036
50,000
54,219
7.95%,
6/15/2039
8,000
9,650
4.30%,
8/15/2039
5,000
4,262
6.20%,
3/15/2040
10,000
10,346
4.50%,
7/15/2044
15,000
12,888
6.60%,
3/15/2046
20,000
21,842
4.40%,
4/15/2046
5,000
4,303
Oceaneering
International,
Inc.
4.65%,
11/15/2024
5,000
4,839
6.00%,
2/01/2028
5,000
4,600
PAR
Petroleum
LLC
/
PAR
Petroleum
Finance
Corp.,
7.75%,
12/15/2025
(a)
10,000
9,874
Parkland
Corp.
5.88%,
7/15/2027
(a)
20,000
19,353
4.50%,
10/01/2029
(a)
50,000
43,831
4.63%,
5/01/2030
(a)
30,000
26,281
Patterson-UTI
Energy,
Inc.
3.95%,
2/01/2028
15,000
13,801
5.15%,
11/15/2029
26,000
24,745
PBF
Holding
Co.
LLC
/
PBF
Finance
Corp.
9.25%,
5/15/2025
(a)
35,000
36,270
7.25%,
6/15/2025
5,000
4,825
6.00%,
2/15/2028
20,000
17,570
PBF
Logistics
LP
/
PBF
Logistics
Finance
Corp.,
6.88%,
5/15/2023
20,000
19,902
PDC
Energy,
Inc.
6.13%,
9/15/2024
14,000
14,037
5.75%,
5/15/2026
21,000
20,442
PIC
AU
Holdings
LLC
/
PIC
AU
Holdings
Corp.,
10.00%,
12/31/2024
(a)
20,000
20,615
Precision
Drilling
Corp.
7.13%,
1/15/2026
(a)
10,000
10,017
6.88%,
1/15/2029
(a)
30,000
29,103
Range
Resources
Corp.
4.88%,
5/15/2025
15,000
14,903
8.25%,
1/15/2029
15,000
16,067
Rattler
Midstream
LP,
5.63%,
7/15/2025
(a)
15,000
15,054
Renewable
Energy
Group,
Inc.,
5.88%,
6/01/2028
(a)
10,000
10,597
Rockcliff
Energy
II
LLC,
5.50%,
10/15/2029
(a)
13,000
12,660
Rockies
Express
Pipeline
LLC
3.60%,
5/15/2025
(a)
40,000
37,976
4.95%,
7/15/2029
(a)
30,000
28,134
108
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Energy
–
12.0%
(continued)
4.80%,
5/15/2030
(a)
25,000
22,979
7.50%,
7/15/2038
(a)
5,000
4,938
6.88%,
4/15/2040
(a)
20,000
19,079
Ruby
Pipeline
LLC,
8.00%,
4/01/2022
(a)
2,303
2,046
SM
Energy
Co.
10.00%,
1/15/2025
(a)
10,000
10,828
5.63%,
6/01/2025
10,000
9,843
6.75%,
9/15/2026
(b)
5,000
4,995
6.63%,
1/15/2027
10,000
9,946
Southeast
Supply
Header
LLC,
4.25%,
6/15/2024
(a)(b)
50,000
49,265
Southwestern
Energy
Co.
5.95%,
1/23/2025
37,000
37,557
7.75%,
10/01/2027
(b)
10,000
10,458
5.38%,
2/01/2029
20,000
19,763
5.38%,
3/15/2030
30,000
29,630
4.75%,
2/01/2032
30,000
28,382
Summit
Midstream
Holdings
LLC
/
Summit
Midstream
Finance
Corp.,
8.50%,
10/15/2026
(a)
40,000
37,415
Sunoco
LP
/
Sunoco
Finance
Corp.
6.00%,
4/15/2027
15,000
15,121
5.88%,
3/15/2028
16,000
15,850
4.50%,
5/15/2029
25,000
22,526
4.50%,
4/30/2030
(a)
30,000
27,054
Tallgrass
Energy
Partners
LP
/
Tallgrass
Energy
Finance
Corp.
7.50%,
10/01/2025
(a)
20,000
20,396
6.00%,
3/01/2027
(a)
20,000
19,397
5.50%,
1/15/2028
(a)
20,000
18,670
6.00%,
12/31/2030
(a)
20,000
18,403
6.00%,
9/01/2031
(a)
5,000
4,546
Talos
Production,
Inc.,
12.00%,
1/15/2026
10,000
10,764
Tap
Rock
Resources
LLC,
7.00%,
10/01/2026
(a)
15,000
15,151
TechnipFMC
PLC,
6.50%,
2/01/2026
(a)
20,000
20,800
TerraForm
Power
Operating
LLC
5.00%,
1/31/2028
(a)
20,000
18,678
4.75%,
1/15/2030
(a)
37,000
33,434
Topaz
Solar
Farms
LLC,
5.75%,
9/30/2039
(a)
29,515
29,950
TransMontaigne
Partners
LP
/
TLP
Finance
Corp.,
6.13%,
2/15/2026
11,000
10,722
Transocean
Guardian
Ltd.,
5.88%,
1/15/2024
(a)
20,921
19,992
Transocean
Phoenix
2
Ltd.,
7.75%,
10/15/2024
(a)
9,000
9,062
Transocean
Pontus
Ltd.,
6.13%,
8/01/2025
(a)
6,150
6,055
Transocean
Poseidon
Ltd.,
6.88%,
2/01/2027
(a)
32,813
31,542
Transocean
Proteus
Ltd.,
6.25%,
12/01/2024
(a)
15,000
14,811
Transocean
Sentry
Ltd.,
5.38%,
5/15/2023
(a)
16,663
16,214
Transocean,
Inc.
7.50%,
1/15/2026
(a)
40,000
32,839
11.50%,
1/30/2027
(a)
54,000
53,769
8.00%,
2/01/2027
(a)
10,000
7,979
7.50%,
4/15/2031
15,000
9,826
USA
Compression
Partners
LP
/
USA
Compression
Finance
Corp.
6.88%,
4/01/2026
37,000
36,322
6.88%,
9/01/2027
35,000
34,263
Venture
Global
Calcasieu
Pass
LLC
3.88%,
8/15/2029
(a)
30,000
27,394
4.13%,
8/15/2031
(a)
30,000
27,367
3.88%,
11/01/2033
(a)
30,000
26,127
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Energy
–
12.0%
(continued)
Vermilion
Energy,
Inc.
5.63%,
3/15/2025
(a)
10,000
9,971
6.88%,
5/01/2030
(a)
40,000
39,091
Viper
Energy
Partners
LP,
5.38%,
11/01/2027
(a)
15,000
14,992
W&T
Offshore,
Inc.,
9.75%,
11/01/2023
(a)
20,000
19,880
Weatherford
International
Ltd.
11.00%,
12/01/2024
(a)
8,000
8,326
6.50%,
9/15/2028
(a)
20,000
20,196
8.63%,
4/30/2030
(a)
40,000
39,635
Western
Midstream
Operating
LP
3.60%,
2/01/2025
30,000
28,699
4.65%,
7/01/2026
12,000
11,830
4.50%,
3/01/2028
15,000
14,371
4.75%,
8/15/2028
15,000
14,604
4.55%,
2/01/2030
40,000
36,852
5.45%,
4/01/2044
10,000
9,177
5.30%,
3/01/2048
10,000
8,686
5.50%,
8/15/2048
10,000
8,789
5.75%,
2/01/2050
70,000
61,756
5,103,861
Financial
–
10.2%
Acrisure
LLC
/
Acrisure
Finance,
Inc.
7.00%,
11/15/2025
(a)
30,000
29,153
10.13%,
8/01/2026
(a)
15,000
15,770
4.25%,
2/15/2029
(a)
20,000
17,467
Advisor
Group
Holdings,
Inc.,
10.75%,
8/01/2027
(a)
10,000
10,550
AG
Issuer
LLC,
6.25%,
3/01/2028
(a)
10,000
9,812
Alliant
Holdings
Intermediate
LLC
/
Alliant
Holdings
Co.-Issuer
4.25%,
10/15/2027
(a)
25,000
23,066
6.75%,
10/15/2027
(a)
25,000
23,663
5.88%,
11/01/2029
(a)
10,000
9,301
Ally
Financial,
Inc.,
5.75%,
11/20/2025
32,000
32,885
Amwins
Group,
Inc.,
4.88%,
6/30/2029
(a)
30,000
27,445
Apollo
Commercial
Real
Estate
Finance,
Inc.,
4.63%,
6/15/2029
(a)
20,000
17,383
ASG
Finance
Designated
Activity
Co.,
7.88%,
12/03/2024
(a)
15,000
14,372
Assurant,
Inc.,
7.00%,
3/27/2048
35,000
36,544
AssuredPartners,
Inc.
7.00%,
8/15/2025
(a)
5,000
4,930
5.63%,
1/15/2029
(a)
15,000
13,202
Asteroid
Private
Merger
Sub,
Inc.,
8.50%,
11/15/2029
(a)
10,000
9,508
Blackstone
Mortgage
Trust,
Inc.,
3.75%,
1/15/2027
(a)
10,000
9,145
Brightsphere
Investment
Group,
Inc.,
4.80%,
7/27/2026
35,000
32,556
Broadstreet
Partners,
Inc.,
5.88%,
4/15/2029
(a)
40,000
34,747
Brookfield
Property
REIT,
Inc.
/
BPR
Cumulus
LLC
/
BPR
Nimbus
LLC
/
GGSI
Sellco
LLC
5.75%,
5/15/2026
(a)
40,000
38,824
4.50%,
4/01/2027
(a)
49,000
44,412
Burford
Capital
Global
Finance
LLC,
6.88%,
4/15/2030
(a)
130,000
126,878
CNG
Holdings,
Inc.,
12.50%,
6/15/2024
(a)
10,000
9,361
Coinbase
Global,
Inc.
3.38%,
10/01/2028
(a)
15,000
11,969
3.63%,
10/01/2031
(a)
40,000
29,582
109
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Financial
–
10.2%
(continued)
Commerzbank
AG,
8.13%,
9/19/2023
(a)
25,000
26,151
Compass
Group
Diversified
Holdings
LLC,
5.25%,
4/15/2029
(a)
30,000
26,836
Credit
Acceptance
Corp.
5.13%,
12/31/2024
(a)
3,000
2,963
6.63%,
3/15/2026
12,000
12,128
Curo
Group
Holdings
Corp.,
7.50%,
8/01/2028
(a)
65,000
54,767
Cushman
&
Wakefield
US
Borrower
LLC,
6.75%,
5/15/2028
(a)
20,000
20,400
Deutsche
Bank
AG
4.50%,
4/01/2025
50,000
48,992
3.73%,
1/14/2032
50,000
41,321
4.88%,
12/01/2032
30,000
27,556
3.74%,
1/07/2033
50,000
40,668
Diversified
Healthcare
Trust
9.75%,
6/15/2025
40,000
41,918
4.38%,
3/01/2031
50,000
38,903
Enova
International,
Inc.,
8.50%,
9/15/2025
(a)
12,000
11,931
Enstar
Finance
LLC,
5.50%,
1/15/2042
30,000
27,684
Finance
of
America
Funding
LLC,
7.88%,
11/15/2025
(a)
25,000
22,328
Five
Point
Operating
Co.
LP
/
Five
Point
Capital
Corp.,
7.88%,
11/15/2025
(a)
12,000
11,931
Freedom
Mortgage
Corp.
8.13%,
11/15/2024
(a)
5,000
4,846
8.25%,
4/15/2025
(a)
42,000
40,297
7.63%,
5/01/2026
(a)
20,000
18,197
6.63%,
1/15/2027
(a)
40,000
34,577
FS
Energy
&
Power
Fund,
7.50%,
8/15/2023
(a)
12,000
12,195
Genworth
Holdings,
Inc.
4.80%,
2/15/2024
(b)
25,000
25,026
6.50%,
6/15/2034
10,000
9,316
GEO
Group,
Inc.
(The),
5.88%,
10/15/2024
20,000
17,781
Global
Aircraft
Leasing
Co.
Ltd.,
6.50%,
9/15/2024
(a)(c)
44,835
38,936
Global
Atlantic
Finance
Co.,
4.70%,
10/15/2051
(a)
40,000
35,743
Global
NET
Lease,
Inc.
/
Global
NET
Lease
Operating
Partnership
LP,
3.75%,
12/15/2027
(a)
10,000
9,002
Greystar
Real
Estate
Partners
LLC,
5.75%,
12/01/2025
(a)
10,000
10,056
GTCR
AP
Finance,
Inc.,
8.00%,
5/15/2027
(a)
30,000
29,901
HAT
Holdings
I
LLC
/
HAT
Holdings
II
LLC
6.00%,
4/15/2025
(a)
15,000
15,246
3.38%,
6/15/2026
(a)
15,000
13,836
Home
Point
Capital,
Inc.,
5.00%,
2/01/2026
(a)
30,000
23,770
Howard
Hughes
Corp.
(The)
5.38%,
8/01/2028
(a)
11,000
10,672
4.13%,
2/01/2029
(a)
25,000
22,645
4.38%,
2/01/2031
(a)
35,000
31,112
HUB
International
Ltd.,
7.00%,
5/01/2026
(a)
70,000
69,374
Hunt
Cos.,
Inc.,
5.25%,
4/15/2029
(a)
40,000
36,991
Icahn
Enterprises
LP
/
Icahn
Enterprises
Finance
Corp.
4.75%,
9/15/2024
75,000
73,101
6.38%,
12/15/2025
25,000
24,938
6.25%,
5/15/2026
40,000
39,613
5.25%,
5/15/2027
45,000
42,052
4.38%,
2/01/2029
20,000
17,303
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Financial
–
10.2%
(continued)
Intesa
Sanpaolo
SpA
5.02%,
6/26/2024
(a)
71,000
69,788
5.71%,
1/15/2026
(a)
35,000
34,836
4.95%,
6/01/2042
(a)
20,000
15,494
Iron
Mountain
Information
Management
Services,
Inc.,
5.00%,
7/15/2032
(a)
30,000
26,491
Iron
Mountain,
Inc.
4.88%,
9/15/2027
(a)
36,000
34,282
5.25%,
3/15/2028
(a)
50,000
47,779
5.00%,
7/15/2028
(a)
10,000
9,468
4.88%,
9/15/2029
(a)
31,000
28,429
5.25%,
7/15/2030
(a)
35,000
32,126
4.50%,
2/15/2031
(a)
30,000
25,836
5.63%,
7/15/2032
(a)
45,000
41,126
iStar,
Inc.
4.75%,
10/01/2024
30,000
29,167
4.25%,
8/01/2025
(b)
12,000
11,448
5.50%,
2/15/2026
10,000
9,730
Jane
Street
Group
/
JSG
Finance,
Inc.,
4.50%,
11/15/2029
(a)
20,000
18,382
Jefferies
Finance
LLC
/
JFIN
Co.-Issuer
Corp.,
5.00%,
8/15/2028
(a)
15,000
13,668
Kennedy-Wilson,
Inc.,
5.00%,
3/01/2031
40,000
36,154
Ladder
Capital
Finance
Holdings
LLLP
/
Ladder
Capital
Finance
Corp.
5.25%,
10/01/2025
(a)
45,000
44,227
4.25%,
2/01/2027
(a)
30,000
27,670
LD
Holdings
Group
LLC
6.50%,
11/01/2025
(a)
10,000
8,287
6.13%,
4/01/2028
(a)
60,000
45,313
Liberty
Mutual
Group,
Inc.,
4.30%,
2/01/2061
(a)
40,000
30,131
LPL
Holdings,
Inc.
4.63%,
11/15/2027
(a)
11,000
10,458
4.00%,
3/15/2029
(a)
10,000
9,109
MGIC
Investment
Corp.,
5.25%,
8/15/2028
10,000
9,423
MGM
Growth
Properties
Operating
Partnership
LP
/
MGP
Finance
Co.-Issuer,
Inc.
5.63%,
5/01/2024
24,000
24,491
4.63%,
6/15/2025
(a)
20,000
19,896
4.50%,
9/01/2026
20,000
19,773
5.75%,
2/01/2027
20,000
20,741
4.50%,
1/15/2028
20,000
19,697
3.88%,
2/15/2029
(a)
20,000
18,789
Midcap
Financial
Issuer
Trust
6.50%,
5/01/2028
(a)
50,000
43,102
5.63%,
1/15/2030
(a)
10,000
8,048
MPT
Operating
Partnership
LP
/
MPT
Finance
Corp.
5.25%,
8/01/2026
18,000
18,023
5.00%,
10/15/2027
26,000
24,946
4.63%,
8/01/2029
30,000
27,561
3.50%,
3/15/2031
30,000
25,530
Nationstar
Mortgage
Holdings,
Inc.
6.00%,
1/15/2027
(a)
10,000
9,709
5.50%,
8/15/2028
(a)
10,000
9,134
5.13%,
12/15/2030
(a)
55,000
47,871
Navient
Corp.
7.25%,
9/25/2023
22,000
22,610
6.13%,
3/25/2024
8,000
8,037
5.88%,
10/25/2024
18,000
17,923
6.75%,
6/25/2025
10,000
10,050
110
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Financial
–
10.2%
(continued)
5.00%,
3/15/2027
20,000
18,225
5.63%,
8/01/2033
18,000
14,547
New
Residential
Investment
Corp.,
6.25%,
10/15/2025
(a)
15,000
14,284
NFP
Corp.,
6.88%,
8/15/2028
(a)
65,000
57,516
NMI
Holdings,
Inc.,
7.38%,
6/01/2025
(a)
45,000
47,060
OneMain
Finance
Corp.
8.25%,
10/01/2023
6,000
6,249
6.13%,
3/15/2024
60,000
60,225
6.88%,
3/15/2025
41,000
41,399
7.13%,
3/15/2026
40,000
40,714
3.50%,
1/15/2027
20,000
17,603
6.63%,
1/15/2028
15,000
14,829
5.38%,
11/15/2029
17,000
15,271
4.00%,
9/15/2030
(b)
25,000
20,460
Oxford
Finance
LLC
/
Oxford
Finance
Co.-Issuer
II,
Inc.,
6.38%,
2/01/2027
(a)
5,000
5,069
Park
Intermediate
Holdings
LLC
/
PK
Domestic
Property
LLC
/
PK
Finance
Co.-Issuer
7.50%,
6/01/2025
(a)
15,000
15,557
5.88%,
10/01/2028
(a)
20,000
19,401
4.88%,
5/15/2029
(a)
25,000
22,920
Pennymac
Financial
Services,
Inc.
5.38%,
10/15/2025
(a)
16,000
15,206
5.75%,
9/15/2031
(a)
30,000
24,889
PHH
Mortgage
Corp.,
7.88%,
3/15/2026
(a)
25,000
22,484
Provident
Financing
Trust
I,
7.41%,
3/15/2038
5,000
5,610
Provident
Funding
Associates
LP
/
PFG
Finance
Corp.,
6.38%,
6/15/2025
(a)
15,000
14,720
Radian
Group,
Inc.,
6.63%,
3/15/2025
45,000
45,815
Realogy
Group
LLC
/
Realogy
Co.-Issuer
Corp.,
5.75%,
1/15/2029
(a)
30,000
25,245
RHP
Hotel
Properties
LP
/
RHP
Finance
Corp.,
4.75%,
10/15/2027
20,000
18,654
RLJ
Lodging
Trust
LP,
4.00%,
9/15/2029
(a)
10,000
8,925
Rocket
Mortgage
LLC
/
Rocket
Mortgage
Co.-Issuer,
Inc.
2.88%,
10/15/2026
(a)
30,000
26,509
3.63%,
3/01/2029
(a)
20,000
17,112
3.88%,
3/01/2031
(a)
15,000
12,662
4.00%,
10/15/2033
(a)
10,000
8,028
Ryan
Specialty
Group
LLC,
4.38%,
2/01/2030
(a)
30,000
27,399
SBA
Communications
Corp.
3.88%,
2/15/2027
40,000
37,951
3.13%,
2/01/2029
50,000
42,869
Service
Properties
Trust
4.65%,
3/15/2024
5,000
4,748
4.35%,
10/01/2024
20,000
18,507
7.50%,
9/15/2025
30,000
29,970
5.25%,
2/15/2026
10,000
8,951
4.95%,
2/15/2027
12,000
10,408
3.95%,
1/15/2028
15,000
11,881
4.95%,
10/01/2029
45,000
35,997
SLM
Corp.,
4.20%,
10/29/2025
30,000
29,319
Starwood
Property
Trust,
Inc.,
4.75%,
3/15/2025
18,000
17,773
Stonex
Group,
Inc.,
8.63%,
6/15/2025
(a)
40,000
41,802
Synovus
Financial
Corp.,
5.90%,
2/07/2029
10,000
10,088
UniCredit
SpA
5.86%,
6/19/2032
(a)
25,000
23,837
7.30%,
4/02/2034
(a)
50,000
50,710
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Financial
–
10.2%
(continued)
5.46%,
6/30/2035
(a)
30,000
27,139
United
Wholesale
Mortgage
LLC
5.50%,
11/15/2025
(a)
60,000
55,217
5.75%,
6/15/2027
(a)
42,000
36,439
5.50%,
4/15/2029
(a)
40,000
33,288
Uniti
Group
LP
/
Uniti
Fiber
Holdings,
Inc.
/
CSL
Capital
LLC
7.88%,
2/15/2025
(a)
80,000
81,698
6.00%,
1/15/2030
(a)
20,000
16,688
Uniti
Group
LP
/
Uniti
Group
Finance,
Inc.
/
CSL
Capital
LLC,
6.50%,
2/15/2029
(a)
30,000
25,865
USI,
Inc.,
6.88%,
5/01/2025
(a)
30,000
29,544
Vistajet
Malta
Finance
PLC
/
Xo
Management
Holding,
Inc.,
6.38%,
2/01/2030
(a)
20,000
17,520
WeWork
Cos.,
Inc.,
7.88%,
5/01/2025
(a)
10,000
8,452
World
Acceptance
Corp.,
7.00%,
11/01/2026
(a)
25,000
21,720
XHR
LP,
6.38%,
8/15/2025
(a)
20,000
20,265
4,313,514
Industrial
–
9.7%
Advanced
Drainage
Systems,
Inc.,
5.00%,
9/30/2027
(a)
40,000
39,088
AECOM,
5.13%,
3/15/2027
23,000
22,746
AerCap
Global
Aviation
Trust,
6.50%,
6/15/2045
(a)
30,000
29,418
Amsted
Industries,
Inc.
5.63%,
7/01/2027
(a)
25,000
24,875
4.63%,
5/15/2030
(a)
15,000
13,890
Arcosa,
Inc.,
4.38%,
4/15/2029
(a)
15,000
13,707
ARD
Finance
SA,
6.50%,
6/30/2027
(a)(c)
20,000
16,945
Ardagh
Metal
Packaging
Finance
USA
LLC
/
Ardagh
Metal
Packaging
Finance
PLC,
4.00%,
9/01/2029
(a)
60,000
51,404
Ardagh
Packaging
Finance
PLC
/
Ardagh
Holdings
USA,
Inc.
5.25%,
4/30/2025
(a)
10,000
9,939
4.13%,
8/15/2026
(a)
60,000
55,656
5.25%,
8/15/2027
(a)
30,000
25,713
5.25%,
8/15/2027
(a)
50,000
42,954
Artera
Services
LLC,
9.03%,
12/04/2025
(a)
25,000
23,660
Ball
Corp.
4.00%,
11/15/2023
30,000
30,053
5.25%,
7/01/2025
25,000
25,644
4.88%,
3/15/2026
23,000
23,168
2.88%,
8/15/2030
50,000
42,078
3.13%,
9/15/2031
20,000
16,768
Berry
Global,
Inc.
4.50%,
2/15/2026
(a)(b)
15,000
14,767
5.63%,
7/15/2027
(a)
25,000
24,913
Boise
Cascade
Co.,
4.88%,
7/01/2030
(a)
15,000
14,175
Bombardier,
Inc.
7.50%,
3/15/2025
(a)
11,000
10,704
7.13%,
6/15/2026
(a)
60,000
55,590
7.88%,
4/15/2027
(a)
44,000
41,000
6.00%,
2/15/2028
(a)
40,000
34,779
Brand
Industrial
Services,
Inc.,
8.50%,
7/15/2025
(a)
20,000
18,038
Builders
FirstSource,
Inc.
6.75%,
6/01/2027
(a)
26,000
26,806
5.00%,
3/01/2030
(a)
15,000
13,873
4.25%,
2/01/2032
(a)
40,000
34,159
BWX
Technologies,
Inc.,
4.13%,
6/30/2028
(a)
10,000
9,319
111
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Industrial
–
9.7%
(continued)
Canpack
SA
/
Canpack
US
LLC,
3.88%,
11/15/2029
(a)
35,000
30,046
Cargo
Aircraft
Management,
Inc.,
4.75%,
2/01/2028
(a)
20,000
18,819
Carriage
Purchaser,
Inc.,
7.88%,
10/15/2029
(a)
25,000
22,007
Cascades,
Inc.
/
Cascades
USA,
Inc.,
5.38%,
1/15/2028
(a)
25,000
24,284
Clean
Harbors,
Inc.
4.88%,
7/15/2027
(a)
21,000
20,732
5.13%,
7/15/2029
(a)
23,000
22,581
Covanta
Holding
Corp.,
5.00%,
9/01/2030
30,000
27,156
CP
Atlas
Buyer,
Inc.,
7.00%,
12/01/2028
(a)(b)
15,000
12,525
Crown
Americas
LLC
/
Crown
Americas
Capital
Corp.
V,
4.25%,
9/30/2026
10,000
9,685
Crown
Americas
LLC
/
Crown
Americas
Capital
Corp.
VI,
4.75%,
2/01/2026
30,000
29,917
Crown
Cork
&
Seal
Co.,
Inc.,
7.38%,
12/15/2026
10,000
10,652
Energizer
Holdings,
Inc.
4.75%,
6/15/2028
(a)
15,000
13,160
4.38%,
3/31/2029
(a)(b)
20,000
16,647
EnerSys,
4.38%,
12/15/2027
(a)
28,000
26,099
EnPro
Industries,
Inc.,
5.75%,
10/15/2026
35,000
35,217
F-Brasile
SpA
/
F-Brasile
US
LLC,
Series
XR,
7.38%,
8/15/2026
(a)
30,000
26,537
First
Student
Bidco,
Inc.
/
First
Transit
Parent,
Inc.,
4.00%,
7/31/2029
(a)
10,000
8,952
Fluor
Corp.
3.50%,
12/15/2024
10,000
9,826
4.25%,
9/15/2028
(b)
20,000
19,011
Fly
Leasing
Ltd.,
7.00%,
10/15/2024
(a)
10,000
8,898
Fortress
Transportation
&
Infrastructure
Investors
LLC
6.50%,
10/01/2025
(a)
15,000
14,305
9.75%,
8/01/2027
(a)
40,000
40,860
5.50%,
5/01/2028
(a)
30,000
25,998
FXI
Holdings,
Inc.
7.88%,
11/01/2024
(a)
20,000
19,759
12.25%,
11/15/2026
(a)
30,000
32,072
Gates
Global
LLC
/
Gates
Corp.,
6.25%,
1/15/2026
(a)
14,000
13,730
GFL
Environmental,
Inc.
4.25%,
6/01/2025
(a)
15,000
14,562
3.75%,
8/01/2025
(a)
20,000
19,124
5.13%,
12/15/2026
(a)
15,000
14,748
4.00%,
8/01/2028
(a)(b)
10,000
8,813
3.50%,
9/01/2028
(a)
20,000
17,964
4.38%,
8/15/2029
(a)
30,000
26,582
Global
Infrastructure
Solutions,
Inc.,
5.63%,
6/01/2029
(a)
15,000
13,672
Graham
Packaging
Co.,
Inc.,
7.13%,
8/15/2028
(a)
15,000
13,528
Granite
US
Holdings
Corp.,
11.00%,
10/01/2027
(a)
10,000
10,312
Graphic
Packaging
International
LLC
4.75%,
7/15/2027
(a)
8,000
7,750
3.50%,
3/15/2028
(a)
11,000
9,955
3.50%,
3/01/2029
(a)
10,000
8,900
Great
Lakes
Dredge
&
Dock
Corp.,
5.25%,
6/01/2029
(a)
15,000
14,160
Griffon
Corp.,
5.75%,
3/01/2028
30,000
26,784
Harsco
Corp.,
5.75%,
7/31/2027
(a)
20,000
18,210
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Industrial
–
9.7%
(continued)
Hexcel
Corp.
4.95%,
8/15/2025
30,000
30,461
4.20%,
2/15/2027
40,000
39,250
Hillenbrand,
Inc.
5.75%,
6/15/2025
15,000
15,222
5.00%,
9/15/2026
10,000
9,778
Howmet
Aerospace,
Inc.
5.13%,
10/01/2024
40,000
40,695
6.88%,
5/01/2025
35,000
36,990
5.90%,
2/01/2027
15,000
15,407
6.75%,
1/15/2028
15,000
15,873
5.95%,
2/01/2037
23,000
23,269
Husky
III
Holding
Ltd.,
13.00%,
2/15/2025
(a)(c)
5,000
5,147
IEA
Energy
Services
LLC,
6.63%,
8/15/2029
(a)
10,000
9,221
II-VI,
Inc.,
5.00%,
12/15/2029
(a)
30,000
28,138
Imola
Merger
Corp.,
4.75%,
5/15/2029
(a)
100,000
93,348
Innovate
Corp.,
8.50%,
2/01/2026
(a)
30,000
28,958
Intelligent
Packaging
Ltd.
Finco,
Inc.
/
Intelligent
Packaging
Ltd.
Co.-Issuer
LLC,
6.00%,
9/15/2028
(a)
10,000
9,467
JELD-WEN,
Inc.
6.25%,
5/15/2025
(a)
10,000
10,223
4.88%,
12/15/2027
(a)
21,000
19,065
Koppers,
Inc.,
6.00%,
2/15/2025
(a)
20,000
19,422
LABL,
Inc.
6.75%,
7/15/2026
(a)
10,000
9,623
8.25%,
11/01/2029
(a)
30,000
24,934
Likewize
Corp.,
9.75%,
10/15/2025
(a)
15,000
14,588
LSB
Industries,
Inc.,
6.25%,
10/15/2028
(a)
15,000
14,692
Madison
Iaq
LLC,
5.88%,
6/30/2029
(a)
40,000
32,609
Manitowoc
Co.,
Inc.
(The),
9.00%,
4/01/2026
(a)
6,000
6,210
Matthews
International
Corp.,
5.25%,
12/01/2025
(a)
23,000
22,983
Mauser
Packaging
Solutions
Holding
Co.
5.50%,
4/15/2024
(a)
73,000
71,281
8.50%,
4/15/2024
(a)
30,000
30,333
7.25%,
4/15/2025
(a)
55,000
52,123
Maxar
Space
Robotics
LLC,
9.75%,
12/31/2023
(a)
12,000
12,795
MIWD
Holdco
II
LLC
/
MIWD
Finance
Corp.,
5.50%,
2/01/2030
(a)
5,000
4,357
Moog,
Inc.,
4.25%,
12/15/2027
(a)
17,000
15,965
OI
European
Group
BV,
4.75%,
2/15/2030
(a)
30,000
26,630
OT
Merger
Corp.,
7.88%,
10/15/2029
(a)
40,000
34,573
Owens-Brockway
Glass
Container,
Inc.
5.88%,
8/15/2023
(a)
14,000
14,203
6.38%,
8/15/2025
(a)
10,000
10,068
Pactiv
Evergreen
Group
Issuer,
Inc.
/
Pactiv
Evergreen
Group
Issuer
LLC
/
Reynolds
Group
Issuer,
Inc.,
4.00%,
10/15/2027
(a)
40,000
34,847
Pactiv
LLC
7.95%,
12/15/2025
6,000
5,906
8.38%,
4/15/2027
(b)
5,000
4,943
PGT
Innovations,
Inc.,
4.38%,
10/01/2029
(a)
50,000
43,925
Rolls-Royce
PLC
3.63%,
10/14/2025
(a)
60,000
56,179
5.75%,
10/15/2027
(a)
30,000
28,977
Schweitzer-Mauduit
International,
Inc.,
6.88%,
10/01/2026
(a)
32,000
28,798
112
STATEMENT
OF
INVESTMENTS
(continued)
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Industrial
–
9.7%
(continued)
Sealed
Air
Corp.
5.13%,
12/01/2024
(a)
5,000
5,093
5.50%,
9/15/2025
(a)
15,000
15,423
4.00%,
12/01/2027
(a)
35,000
32,945
6.88%,
7/15/2033
(a)
18,000
19,737
Seaspan
Corp.,
5.50%,
8/01/2029
(a)
20,000
17,906
Sensata
Technologies
BV
4.88%,
10/15/2023
(a)
15,000
15,047
5.63%,
11/01/2024
(a)
10,000
10,132
5.00%,
10/01/2025
(a)
20,000
19,844
4.00%,
4/15/2029
(a)
50,000
44,579
Sensata
Technologies,
Inc.
4.38%,
2/15/2030
(a)
16,000
14,553
3.75%,
2/15/2031
(a)
20,000
16,928
Silgan
Holdings,
Inc.,
4.13%,
2/01/2028
20,000
18,714
Spirit
AeroSystems,
Inc.
3.95%,
6/15/2023
(b)
22,000
21,558
7.50%,
4/15/2025
(a)
50,000
50,780
SRM
Escrow
Issuer
LLC,
6.00%,
11/01/2028
(a)
45,000
43,218
Standard
Industries,
Inc.
5.00%,
2/15/2027
(a)
25,000
23,716
4.75%,
1/15/2028
(a)
50,000
46,037
4.38%,
7/15/2030
(a)
50,000
41,785
3.38%,
1/15/2031
(a)
30,000
23,866
Stericycle,
Inc.,
3.88%,
1/15/2029
(a)
15,000
13,239
Stevens
Holding
Co.,
Inc.,
6.13%,
10/01/2026
(a)
5,000
5,071
Summit
Materials
LLC
/
Summit
Materials
Finance
Corp.
6.50%,
3/15/2027
(a)
25,000
24,945
5.25%,
1/15/2029
(a)
5,000
4,702
Terex
Corp.,
5.00%,
5/15/2029
(a)
45,000
41,369
Tervita
Corp.,
11.00%,
12/01/2025
(a)
36,000
40,134
Titan
Acquisition
Ltd.
/
Titan
Co.-Borrower
LLC,
7.75%,
4/15/2026
(a)
20,000
19,514
TK
Elevator
US
Newco,
Inc.,
5.25%,
7/15/2027
(a)
50,000
46,898
Topbuild
Corp.,
3.63%,
3/15/2029
(a)
10,000
8,714
TransDigm,
Inc.
8.00%,
12/15/2025
(a)
55,000
57,263
6.25%,
3/15/2026
(a)
165,000
165,211
6.38%,
6/15/2026
65,000
64,231
7.50%,
3/15/2027
20,000
20,149
5.50%,
11/15/2027
100,000
91,712
4.63%,
1/15/2029
30,000
25,922
4.88%,
5/01/2029
(b)
25,000
21,894
Trident
TPI
Holdings,
Inc.
9.25%,
8/01/2024
(a)
5,000
4,925
6.63%,
11/01/2025
(a)
10,000
9,658
Trimas
Corp.,
4.13%,
4/15/2029
(a)
35,000
31,400
Trinity
Industries,
Inc.,
4.55%,
10/01/2024
45,000
45,065
Triumph
Group,
Inc.
6.25%,
9/15/2024
(a)
10,000
9,632
7.75%,
8/15/2025
(b)
18,000
17,511
Trivium
Packaging
Finance
BV,
5.50%,
8/15/2026
(a)
20,000
19,330
Tutor
Perini
Corp.,
6.88%,
5/01/2025
(a)(b)
15,000
14,049
Vertiv
Group
Corp.,
4.13%,
11/15/2028
(a)
15,000
13,073
Victors
Merger
Corp.,
6.38%,
5/15/2029
(a)
30,000
18,002
Waste
Pro
USA,
Inc.,
5.50%,
2/15/2026
(a)
12,000
10,667
Watco
Cos.
LLC
/
Watco
Finance
Corp.,
6.50%,
6/15/2027
(a)
10,000
9,648
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Industrial
–
9.7%
(continued)
Weekley
Homes
LLC
/
Weekley
Finance
Corp.,
4.88%,
9/15/2028
(a)
45,000
39,750
Werner
FinCo
LP
/
Werner
FinCo,
Inc.,
8.75%,
7/15/2025
(a)
5,000
5,142
WESCO
Distribution,
Inc.
7.13%,
6/15/2025
(a)
40,000
41,529
7.25%,
6/15/2028
(a)
35,000
36,373
XPO
CNW,
Inc.,
6.70%,
5/01/2034
35,000
36,038
XPO
Logistics,
Inc.,
6.25%,
5/01/2025
(a)
18,000
18,419
4,134,884
Technology
–
3.6%
ams-OSRAM
AG,
7.00%,
7/31/2025
(a)
30,000
30,346
Black
Knight
Infoserv
LLC,
3.63%,
9/01/2028
(a)
30,000
27,851
Booz
Allen
Hamilton,
Inc.
3.88%,
9/01/2028
(a)
20,000
18,471
4.00%,
7/01/2029
(a)
20,000
18,477
Boxer
Parent
Co.,
Inc.
7.13%,
10/02/2025
(a)
20,000
20,400
9.13%,
3/01/2026
(a)
20,000
20,245
Camelot
Finance
SA,
4.50%,
11/01/2026
(a)
10,000
9,448
Castle
US
Holding
Corp.,
9.50%,
2/15/2028
(a)
10,000
9,177
CDK
Global,
Inc.
4.88%,
6/01/2027
40,000
40,300
5.25%,
5/15/2029
(a)
15,000
15,113
Change
Healthcare
Holdings
LLC
/
Change
Healthcare
Finance,
Inc.,
5.75%,
3/01/2025
(a)
50,000
49,902
Conduent
Business
Services
LLC
/
Conduent
State
&
Local
Solutions,
Inc.,
6.00%,
11/01/2029
(a)
30,000
27,698
Consensus
Cloud
Solutions,
Inc.,
6.00%,
10/15/2026
(a)
30,000
28,641
Crowdstrike
Holdings,
Inc.,
3.00%,
2/15/2029
(b)
20,000
17,768
Diebold
Nixdorf,
Inc.,
9.38%,
7/15/2025
(a)
20,000
17,705
Elastic
NV,
4.13%,
7/15/2029
(a)
30,000
26,895
Entegris,
Inc.
4.38%,
4/15/2028
(a)
45,000
41,880
3.63%,
5/01/2029
(a)
35,000
30,794
Fair
Isaac
Corp.,
4.00%,
6/15/2028
(a)
35,000
31,995
KBR,
Inc.,
4.75%,
9/30/2028
(a)
45,000
42,526
MSCI,
Inc.
4.00%,
11/15/2029
(a)
25,000
23,009
3.63%,
9/01/2030
(a)
52,000
45,985
3.88%,
2/15/2031
(a)
40,000
35,880
3.25%,
8/15/2033
(a)
40,000
33,777
NCR
Corp.
5.00%,
10/01/2028
(a)
20,000
19,074
5.13%,
4/15/2029
(a)
60,000
56,771
6.13%,
9/01/2029
(a)
11,000
10,536
5.25%,
10/01/2030
(a)
25,000
23,484
Open
Text
Corp.
3.88%,
2/15/2028
(a)
35,000
31,906
3.88%,
12/01/2029
(a)
30,000
26,674
Open
Text
Holdings,
Inc.,
4.13%,
2/15/2030
(a)
35,000
31,169
Presidio
Holdings,
Inc.
4.88%,
2/01/2027
(a)
5,000
4,788
8.25%,
2/01/2028
(a)
15,000
14,618
PTC,
Inc.
3.63%,
2/15/2025
(a)
15,000
14,595
113
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Technology
–
3.6%
(continued)
4.00%,
2/15/2028
(a)
22,000
20,471
Rackspace
Technology
Global,
Inc.
3.50%,
2/15/2028
(a)
15,000
12,981
5.38%,
12/01/2028
(a)(b)
5,000
4,080
Roblox
Corp.,
3.88%,
5/01/2030
(a)
80,000
68,699
Rocket
Software,
Inc.,
6.50%,
2/15/2029
(a)
30,000
25,710
Seagate
HDD
Cayman
4.75%,
1/01/2025
10,000
9,968
4.88%,
6/01/2027
20,000
19,430
4.09%,
6/01/2029
20,000
17,826
3.13%,
7/15/2029
15,000
12,687
4.13%,
1/15/2031
44,000
38,293
3.38%,
7/15/2031
25,000
20,302
SS&C
Technologies,
Inc.,
5.50%,
9/30/2027
(a)
70,000
68,677
Unisys
Corp.,
6.88%,
11/01/2027
(a)
20,000
20,057
Vericast
Corp.,
11.00%,
9/15/2026
(a)
60,000
56,449
Veritas
US,
Inc.
/
Veritas
Bermuda
Ltd.,
7.50%,
9/01/2025
(a)
65,000
57,533
Xerox
Corp.
3.80%,
5/15/2024
(b)
8,000
7,905
4.80%,
3/01/2035
8,000
6,316
6.75%,
12/15/2039
26,000
24,086
Xerox
Holdings
Corp.
5.00%,
8/15/2025
(a)
20,000
19,200
5.50%,
8/15/2028
(a)
60,000
54,038
Ziff
Davis,
Inc.,
4.63%,
10/15/2030
(a)
22,000
19,649
ZoomInfo
Technologies
LLC
/
ZoomInfo
Finance
Corp.,
3.88%,
2/01/2029
(a)
40,000
35,396
1,517,651
Utilities
–
2.6%
Algonquin
Power
&
Utilities
Corp.,
4.75%,
1/18/2082
40,000
36,447
AmeriGas
Partners
LP
/
AmeriGas
Finance
Corp.
5.63%,
5/20/2024
17,000
17,091
5.50%,
5/20/2025
10,000
9,844
Calpine
Corp.
5.25%,
6/01/2026
(a)
4,000
3,963
4.50%,
2/15/2028
(a)
36,000
33,391
5.13%,
3/15/2028
(a)
65,000
59,046
4.63%,
2/01/2029
(a)
25,000
21,852
5.00%,
2/01/2031
(a)
15,000
12,797
3.75%,
3/01/2031
(a)
30,000
25,354
Clearway
Energy
Operating
LLC
4.75%,
3/15/2028
(a)
15,000
14,269
3.75%,
2/15/2031
(a)
20,000
17,198
DPL,
Inc.
4.13%,
7/01/2025
25,000
24,338
4.35%,
4/15/2029
12,000
11,110
Enfragen
Energia
Sur
SA
/
Enfragen
Spain
SA
/
Prime
Energia
SpA,
5.38%,
12/30/2030
(a)
30,000
21,642
FirstEnergy
Corp.
2.05%,
3/01/2025
25,000
23,576
Series
B,
4.40%,
7/15/2027
53,000
51,428
2.65%,
3/01/2030
10,000
8,497
Series
B,
2.25%,
9/01/2030
30,000
25,050
Series
C,
7.38%,
11/15/2031
45,000
51,735
Series
C,
5.35%,
7/15/2047
30,000
28,035
Series
C,
3.40%,
3/01/2050
20,000
14,895
BNY
Mellon
High
Yield
Beta
ETF
(continued)
Description
Principal
Amount
($)
Value
($)
Corporate
Bonds
–
97.2%
(continued)
Utilities
–
2.6%
(continued)
FirstEnergy
Transmission
LLC
4.35%,
1/15/2025
(a)
30,000
29,922
5.45%,
7/15/2044
(a)
15,000
14,737
4.55%,
4/01/2049
(a)
15,000
12,920
Intergen
NV,
7.00%,
6/30/2023
(a)
10,000
9,788
NextEra
Energy
Operating
Partners
LP
4.25%,
7/15/2024
(a)
30,000
29,778
3.88%,
10/15/2026
(a)
12,000
11,327
4.50%,
9/15/2027
(a)
10,000
9,468
NRG
Energy,
Inc.
5.75%,
1/15/2028
25,000
24,411
3.38%,
2/15/2029
(a)
10,000
8,557
5.25%,
6/15/2029
(a)
15,000
14,193
3.63%,
2/15/2031
(a)
20,000
16,694
3.88%,
2/15/2032
(a)
30,000
25,057
Pattern
Energy
Operations
LP
/
Pattern
Energy
Operations,
Inc.,
4.50%,
8/15/2028
(a)
15,000
14,175
PG&E
Corp.
5.00%,
7/01/2028
30,000
27,620
5.25%,
7/01/2030
30,000
27,329
Pike
Corp.,
5.50%,
9/01/2028
(a)
40,000
36,510
Solaris
Midstream
Holdings
LLC,
7.63%,
4/01/2026
(a)
20,000
20,544
Talen
Energy
Supply
LLC
6.50%,
6/01/2025
50,000
18,500
7.25%,
5/15/2027
(a)
25,000
23,952
6.63%,
1/15/2028
(a)
30,000
28,385
TerraForm
Global
Operating
LLC,
6.13%,
3/01/2026
(a)
15,000
14,754
TransAlta
Corp.,
6.50%,
3/15/2040
20,000
20,029
Vistra
Operations
Co.
LLC
5.50%,
9/01/2026
(a)
28,000
27,911
5.63%,
2/15/2027
(a)
36,000
35,509
5.00%,
7/31/2027
(a)
35,000
33,587
4.38%,
5/01/2029
(a)
50,000
45,508
1,092,723
Total
Corporate
Bonds
(cost
$44,514,449)
41,203,246
Shares
Investment
Companies
–
0.5%
Registered
Investment
Companies
–
0.5%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(e)(f)
(cost
$217,650)
217,650
217,650
Investment
of
Cash
Collateral
for
Securities
Loaned
–
3.3%
Registered
Investment
Companies
–
3.3%
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares,
0.31%
(e)(f)
(cost
$1,387,587)
1,387,587
1,387,587
Total
Investments
(cost
$46,119,686)
101.0%
42,808,483
Liabilities,
Less
Cash
and
Receivables
(1.0)%
(435,050)
Net
Assets
100.0%
42,373,433
REIT—Real
Estate
Investment
Trust
114
STATEMENT
OF
INVESTMENTS
(continued)
(a)
Security
exempt
from
registration
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933.
These
securities
may
be
resold
in
transactions
exempt
from
registration,
normally
to
qualified
institutional
buyers.
At
April
30,
2022,
these
securities
were
valued
at
$29,056,317
or
68.57%
of
net
assets.
(b)
Security,
or
portion
thereof,
on
loan.
At
April
30,
2022,
the
value
of
the
fund’s
securities
on
loan
was
$1,870,369
and
the
value
of
the
collateral
was
$1,972,383,
consisting
of
cash
collateral
of
$1,387,587
and
U.S.
Government
&
Agency
securities
valued
at
$584,796.
In
addition,
the
value
of
collateral
may
include
pending
sales
that
are
also
on
loan.
(c)
Payment-in-kind
security
and
interest
may
be
paid
in
additional
par.
(d)
Perpetual
bond
with
no
specified
maturity
date.
(e)
Investment
in
affiliated
issuer.
The
investment
objective
of
this
investment
company
is
publicly
available
and
can
be
found
within
the
investment
company’s
prospectus.
Holdings
and
transactions
in
these
affiliated
companies
during
the
period
ended
April
30,
2022
are
as
follows:
(f)
The
rate
shown
is
the
1-day
yield
as
of
April
30,
2022.
Description
Value
10/31/21
Purchases
($)
1
Sales
($)
Net
Realized
Gain
(Loss)
($)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
($)
Value
4/30/22
Net
Assets
(%)
Dividends/
Distributions
($)
Investment
Companies
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
81,310
4,880,632
(4,744,292)
—
—
217,650
0.5
154
Investment
of
Cash
Collateral
for
Securities
Loaned
Dreyfus
Institutional
Preferred
Government
Money
Market
Fund,
Institutional
Shares
1,347,194
4,139,571
(4,099,178)
—
—
1,387,587
3.3
8,579
2
Total
1,428,504
9,020,203
(8,843,470)
—
—
1,605,237
3.8
8,733
1
Includes
reinvested
dividends/distributions.
2
Represents
securities
lending
income
earned
from
the
reinvestment
of
cash
collateral
from
loaned
securities,
net
of
fees
and
collateral
investment
expenses,
and
other
payments
to
and
from
borrowers
of
securities.
Portfolio
Summary
(Unaudited)
†
Value
(%)
Consumer,
Cyclical
20.5
Communications
18.0
Consumer,
Non-cyclical
16.7
Energy
12.0
Financial
10.2
Industrial
9.7
Registered
Investment
Companies
3.8
Basic
Materials
3.8
Technology
3.6
Utilities
2.6
Diversified
0.1
101.0
Centrally
Cleared
Credit
Default
Swaps
Reference
Obligation
Maturity
Date
Notional
Amount
($)
(1)
Market
Value
($)
Upfront
Payments/
(Receipts)
($)
Unrealized
Appreciation
(Depreciation)
($)
Sold
Contracts
(2)
CDX
North
American
High
Yield
Swap
6/20/2027
1,700,000
35,295
90,440
(55,145)
(1)
The
maximum
potential
amount
the
fund
could
be
required
to
pay
as
a
seller
of
credit
protection
or
receive
as
a
buyer
of
credit
protection
if
a
credit
event
occurs
as
defined
under
the
terms
of
the
swap
agreement.
(2)
If
the
fund
is
a
seller
of
protection
and
a
credit
event
occurs,
as
defined
under
the
terms
of
the
swap
agreement,
the
fund
will
either
(i)
pay
to
the
buyer
of
protection
an
amount
equal
to
the
notional
amount
of
the
swap
and
take
delivery
of
the
reference
obligation
or
(ii)
pay
a
net
settlement
amount
in
the
form
of
cash
or
securities
equal
to
the
notional
amount
of
the
swap
less
the
recovery
value
of
the
reference
obligation.
See
Notes
to
Financial
Statements
115
STATEMENTS
OF
ASSETS
AND
LIABILITIES
April
30,
2022
(Unaudited)
See
Notes
to
Financial
Statements
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Assets
($):
Investments
in
securities—See
Statements
of
Investments
†
(including
securities
on
loan)
††
—Note
2(c):
–
–
–
Unaffiliated
issuers
479,696,140‌
97,056,565‌
55,158,684‌
Affiliated
issuers
1,217,232‌
1,002,196‌
1,204,186‌
Collateral
with
brokers
for
initial
margin—Note
4
96,000‌
32,000‌
24,000‌
Dividends
receivable
404,756‌
52,386‌
15,133‌
Tax
reclaim
receivable—Note
2(b)
3,074‌
100‌
157‌
Securities
lending
income
receivable
1,149‌
945‌
4,240‌
Receivable
for
investment
securities
sold
—‌
39,640‌
—‌
Due
from
BNY
Mellon
ETF
Investment
Adviser,
LLC—Note
3(b)
81‌
—‌
—‌
481,418,432‌
98,183,832‌
56,406,400‌
Liabilities
($):
Due
to
BNY
Mellon
ETF
Investment
Adviser,
LLC—Note
3(b)
—‌
3,540‌
2,281‌
Liability
for
securities
on
loan—Note
2(c)
190,102‌
787,140‌
1,131,310‌
Payable
for
investment
securities
purchased
237,775‌
71,660‌
—‌
Payable
for
futures
variation
margin—Note
4
46,800‌
6,980‌
2,680‌
474,677‌
869,320‌
1,136,271‌
Net
Assets
($)
480,943,755‌
97,314,512‌
55,270,129‌
Composition
of
Net
Assets
($):
Paid-in
capital
478,300,793‌
84,595,272‌
58,872,887‌
Total
distributable
earnings
(loss)
2,642,962‌
12,719,240‌
(3,602,758‌)
Net
Assets
($)
480,943,755‌
97,314,512‌
55,270,129‌
Shares
outstanding
no
par
value
(unlimited
shares
authorized):
6,290,000‌
1,170,000‌
670,000‌
Net
asset
value
per
share
76.46‌
83.17‌
82.49‌
Market
price
per
share
76.37‌
83.13‌
82.41‌
†
Investments
at
cost
($)
Unaffiliated
issuers
487,645,650‌
87,493,392‌
67,215,666‌
Affiliated
issuers
1,217,232‌
1,002,196‌
1,204,186‌
††
Value
of
securities
on
loan
($)
4,293,663‌
2,592,676‌
3,110,683‌
116
STATEMENTS
OF
ASSETS
AND
LIABILITIES
(continued)
See
Notes
to
Financial
Statements
BNY
Mellon
International
Equity
ETF
BNY
Mellon
Emerging
Markets
Equity
ETF
Assets
($):
Investments
in
securities—See
Statements
of
Investments
†
(including
securities
on
loan)
††
—Note
2(c):
–
–
Unaffiliated
issuers
110,790,466‌
33,044,797‌
Affiliated
issuers
173,942‌
73,497‌
Cash
denominated
in
foreign
currency
†††
159,127‌
125,432‌
Collateral
with
brokers
for
initial
margin—Note
4
84,000‌
11,000‌
Dividends
receivable
399,910‌
48,845‌
Tax
reclaim
receivable—Note
2(b)
163,461‌
297‌
Receivable
for
investment
securities
sold
79,905‌
—‌
Interest
receivable
—‌
12‌
Receivable
for
futures
variation
margin—Note
4
—‌
3,211‌
Securities
lending
income
receivable
—‌
21‌
111,850,811‌
33,307,112‌
Liabilities
($):
Due
to
BNY
Mellon
ETF
Investment
Adviser,
LLC—Note
3(b)
3,809‌
3,066‌
Liability
for
securities
on
loan—Note
2(c)
132,186‌
46,536‌
Payable
for
investment
securities
purchased
206,622‌
—‌
Payable
for
futures
variation
margin—Note
4
6,700‌
—‌
Payable
for
foreign
capital
gains
tax—Note
2(b)
—‌
116,784‌
349,317‌
166,386‌
Net
Assets
($)
111,501,494‌
33,140,726‌
Composition
of
Net
Assets
($):
Paid-in
capital
111,895,847‌
30,277,989‌
Total
distributable
earnings
(loss)
(394,353‌)
2,862,737‌
Net
Assets
($)
111,501,494‌
33,140,726‌
Shares
outstanding
no
par
value
(unlimited
shares
authorized):
1,700,000‌
550,000‌
Net
asset
value
per
share
65.59‌
60.26‌
Market
price
per
share
65.03‌
59.52‌
†
Investments
at
cost
($)
Unaffiliated
issuers
109,810,136‌
29,196,340‌
Affiliated
issuers
173,942‌
73,497‌
††
Value
of
securities
on
loan
($)
127,243‌
160,195‌
†††
Cash
denominated
in
foreign
currency
(cost)
($)
159,458‌
126,904‌
117
See
Notes
to
Financial
Statements
BNY
Mellon
Core
Bond
ETF
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
BNY
Mellon
High
Yield
Beta
ETF
Assets
($):
Investments
in
securities—See
Statements
of
Investments
†
(including
securities
on
loan)
††
—Note
2(c):
–
–
–
Unaffiliated
issuers
294,202,121‌
54,386,393‌
41,203,246‌
Affiliated
issuers
20,228,680‌
1,542,717‌
1,605,237‌
Cash
202,558‌
—‌
—‌
Collateral
with
brokers
for
swap
agreements
—‌
—‌
303,947‌
Receivable
for
investment
securities
sold
1,832,080‌
831,888‌
—‌
Interest
receivable
1,561,190‌
409,390‌
659,206‌
Receivable
for
investment
securities
sold—TBA
979,443‌
—‌
—‌
Dividends
receivable
2,792‌
118‌
66‌
Securities
lending
income
receivable
1,579‌
63‌
1,128‌
Receivable
for
swaps
variation
margin—Note
4
—‌
—‌
11,006‌
Due
from
BNY
Mellon
ETF
Investment
Adviser,
LLC—Note
3(b)
1,031‌
—‌
—‌
319,011,474‌
57,170,569‌
43,783,836‌
Liabilities
($):
Due
to
BNY
Mellon
ETF
Investment
Adviser,
LLC—Note
3(b)
—‌
2,725‌
7,816‌
Liability
for
securities
on
loan—Note
2(c)
6,300,306‌
207,350‌
1,387,587‌
Payable
for
investment
securities
purchased—TBA
12,343,213‌
—‌
—‌
Payable
for
investment
securities
purchased
3,994,123‌
2,067,051‌
15,000‌
22,637,642‌
2,277,126‌
1,410,403‌
Net
Assets
($)
296,373,832‌
54,893,443‌
42,373,433‌
Composition
of
Net
Assets
($):
Paid-in
capital
326,539,528‌
58,175,738‌
45,838,860‌
Total
distributable
earnings
(loss)
(30,165,696‌)
(3,282,295‌)
(3,465,427‌)
Net
Assets
($)
296,373,832‌
54,893,443‌
42,373,433‌
Shares
outstanding
no
par
value
(unlimited
shares
authorized):
6,700,000‌
1,150,000‌
850,000‌
Net
asset
value
per
share
44.23‌
47.73‌
49.85‌
Market
price
per
share
44.26‌
47.74‌
49.65‌
†
Investments
at
cost
($)
Unaffiliated
issuers
321,974,136‌
57,634,167‌
44,514,449‌
Affiliated
issuers
20,228,680‌
1,542,717‌
1,605,237‌
††
Value
of
securities
on
loan
($)
19,460,751‌
321,499‌
1,870,369‌
118
STATEMENTS
OF
OPERATIONS
April
30,
2022
(Unaudited)
See
Notes
to
Financial
Statements
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Investment
Income
($):
Income:
Cash
dividends:
Unaffiliated
issuers
†
3,096,536‌
886,225‌
765,504‌
Affiliated
issuers
353‌
106‌
82‌
Income
from
securities
lending—Note
2(c)
9,907‌
6,454‌
30,955‌
Total
Income
3,106,796‌
892,785‌
796,541‌
Expenses:
Management
fees—Note
3(a)
—‌
22,379‌
22,300‌
Total
Expenses
—‌
22,379‌
22,300‌
Net
Investment
Income
3,106,796‌
870,406‌
774,241‌
Realized
and
Unrealized
Gain
(Loss)
on
Investments—Note
4
($):
Net
realized
gain
(loss)
on
investments
(1,433,373‌)
(1,339,441‌)
(4,779,036‌)
Net
realized
gain
(loss)
on
in-kind
redemptions
13,747,907‌
5,285,970‌
16,291,915‌
Net
realized
gain
(loss)
on
futures
76,229‌
14,489‌
(54,016‌)
Net
realized
gain
(loss)
12,390,763‌
3,961,018‌
11,458,863‌
Net
change
in
unrealized
appreciation
(depreciation)
on
investments
(75,057,303‌)
(17,269,278‌)
(29,562,268‌)
Net
change
in
unrealized
appreciation
(depreciation)
on
futures
(119,461‌)
(32,287‌)
(7,157‌)
Net
change
in
unrealized
appreciation
(depreciation)
(75,176,764‌)
(17,301,565‌)
(29,569,425‌)
Net
Realized
and
Unrealized
Gain
(Loss)
on
Investments
(62,786,001‌)
(13,340,547‌)
(18,110,562‌)
Net
Increase
(Decrease)
in
Net
Assets
Resulting
from
Operations
(59,679,205‌)
(12,470,141‌)
(17,336,321‌)
†
Net
of
foreign
taxes
withheld
at
source
($)
862‌
–‌
470‌
119
See
Notes
to
Financial
Statements
BNY
Mellon
International
Equity
ETF
BNY
Mellon
Emerging
Markets
Equity
ETF
Investment
Income
($):
Income:
Cash
dividends:
Unaffiliated
issuers
†
1,633,522‌
407,575‌
Affiliated
issuers
50‌
8‌
Interest
—‌
7‌
Income
from
securities
lending—Note
2(c)
16‌
57‌
Total
Income
1,633,588‌
407,647‌
Expenses:
Management
fees—Note
3(a)
21,608‌
19,894‌
Total
Expenses
21,608‌
19,894‌
Less—reduction
in
fees
due
pursuant
to
undertaking—Note
3(a)
—‌
(10‌)
Net
Expenses
21,608‌
19,884‌
Net
Investment
Income
1,611,980‌
387,763‌
Realized
and
Unrealized
Gain
(Loss)
on
Investments—Note
4
($):
Net
realized
gain
(loss)
on
investments
and
foreign
currency
transactions
(782,532‌)
(390,322‌)
Net
realized
gain
(loss)
on
futures
(11,501‌)
(19,203‌)
Net
realized
gain
(loss)
(794,033‌)
(409,525‌)
Net
change
in
unrealized
appreciation
(depreciation)
on
investments
and
foreign
currency
transactions
(13,151,496‌)
(4,919,925‌)
Net
change
in
unrealized
appreciation
(depreciation)
on
futures
(49,716‌)
(2,812‌)
Net
change
in
unrealized
appreciation
(depreciation)
(13,201,212‌)
(4,922,737‌)
Net
Realized
and
Unrealized
Gain
(Loss)
on
Investments
(13,995,245‌)
(5,332,262‌)
Net
Increase
(Decrease)
in
Net
Assets
Resulting
from
Operations
(12,383,265‌)
(4,944,499‌)
†
Net
of
foreign
taxes
withheld
at
source
($)
178,258‌
41,817‌
120
STATEMENTS
OF
OPERATIONS
(continued)
See
Notes
to
Financial
Statements
BNY
Mellon
Core
Bond
ETF
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
BNY
Mellon
High
Yield
Beta
ETF
Investment
Income
($):
Income:
Cash
dividends:
Affiliated
issuers
4,678‌
199‌
154‌
Interest
1,848,700‌
368,771‌
1,257,681‌
Income
from
securities
lending—Note
2(c)
6,464‌
367‌
8,579‌
Total
Income
1,859,842‌
369,337‌
1,266,414‌
Expenses:
Management
fees—Note
3(a)
—‌
15,629‌
53,695‌
Total
Expenses
—‌
15,629‌
53,695‌
Net
Investment
Income
1,859,842‌
353,708‌
1,212,719‌
Realized
and
Unrealized
Gain
(Loss)
on
Investments—Note
4
($):
Net
realized
gain
(loss)
on
investments
(1,845,793‌)
(103,612‌)
49,852‌
Net
realized
gain
(loss)
on
in-kind
redemptions
—‌
—‌
(260,420‌)
Net
realized
gain
(loss)
on
swap
agreements
—‌
—‌
9,405‌
Net
realized
gain
(loss)
(1,845,793‌)
(103,612‌)
(201,163‌)
Net
change
in
unrealized
appreciation
(depreciation)
on
investments
(26,365,877‌)
(3,270,732‌)
(4,759,076‌)
Net
change
in
unrealized
appreciation
(depreciation)
on
swap
agreements
—‌
—‌
(58,223‌)
Net
change
in
unrealized
appreciation
(depreciation)
(26,365,877‌)
(3,270,732‌)
(4,817,299‌)
Net
Realized
and
Unrealized
Gain
(Loss)
on
Investments
(28,211,670‌)
(3,374,344‌)
(5,018,462‌)
Net
Increase
(Decrease)
in
Net
Assets
Resulting
from
Operations
(26,351,828‌)
(3,020,636‌)
(3,805,743‌)
121
STATEMENTS
OF
CHANGES
IN
NET
ASSETS
See
Notes
to
Financial
Statements
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Operations
($):
Net
investment
income
3,106,796‌
3,542,971‌
870,406‌
1,134,407‌
Net
realized
gain
(loss)
on
investments
12,390,763‌
11,948,895‌
3,961,018‌
6,104,763‌
Net
change
in
unrealized
appreciation
(depreciation)
on
investments
(75,176,764‌)
61,784,935‌
(17,301,565‌)
19,150,216‌
Net
Increase
(Decrease)
in
Net
Assets
Resulting
from
Operations
(59,679,205‌)
77,276,801‌
(12,470,141‌)
26,389,386‌
Distributions
($):
Distributions
to
shareholders
(2,956,359‌)
(3,307,327‌)
(794,437‌)
(1,097,103‌)
Capital
Contributions
($):
Capital
contributions
from
BNY
Mellon
ETF
Investment
Adviser,
LLC—Note
3(a)
239
120
—
—
Beneficial
Interest
Transactions
($):
Proceeds
from
shares
sold
202,421,805‌
269,191,424‌
14,039,168‌
68,930,826‌
Cost
of
shares
redeemed
(50,328,964‌)
(44,719,840‌)
(16,301,468‌)
(20,777,288‌)
Increase
(Decrease)
in
Net
Assets
from
Beneficial
Interest
Transactions
152,092,841‌
224,471,584‌
(2,262,300‌)
48,153,538‌
Total
Increase
(Decrease)
in
Net
Assets
89,457,516‌
298,441,178‌
(15,526,878‌)
73,445,821‌
Net
Assets
($):
Beginning
of
Period
391,486,239‌
93,045,061‌
112,841,390‌
39,395,569‌
End
of
Period
480,943,755‌
391,486,239‌
97,314,512‌
112,841,390‌
Changes
in
Shares
Outstanding:
Shares
sold
2,400,000‌
3,600,000‌
150,000‌
850,000‌
Shares
redeemed
(610,000‌)
(602,000‌)
(180,000‌)
(250,020‌)
Net
Increase
(Decrease)
in
Shares
Outstanding
1,790,000‌
2,998,000‌
(30,000‌)
599,980‌
122
STATEMENTS
OF
CHANGES
IN
NET
ASSETS
(continued)
See
Notes
to
Financial
Statements
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
BNY
Mellon
International
Equity
ETF
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Operations
($):
Net
investment
income
774,241‌
1,476,391‌
1,611,980‌
1,291,244‌
Net
realized
gain
(loss)
on
investments
11,458,863‌
13,994,312‌
(794,033‌)
59,614‌
Net
change
in
unrealized
appreciation
(depreciation)
on
investments
(29,569,425‌)
8,917,583‌
(13,201,212‌)
10,860,188‌
Net
Increase
(Decrease)
in
Net
Assets
Resulting
from
Operations
(17,336,321‌)
24,388,286‌
(12,383,265‌)
12,211,046‌
Distributions
($):
Distributions
to
shareholders
(775,313‌)
(1,262,690‌)
(1,471,576‌)
(1,387,854‌)
Beneficial
Interest
Transactions
($):
Proceeds
from
shares
sold
18,973,122‌
168,747,266‌
24,947,204‌
62,105,390‌
Cost
of
shares
redeemed
(126,401,108‌)
(51,365,306‌)
—‌
(3,353,413‌)
Increase
(Decrease)
in
Net
Assets
from
Beneficial
Interest
Transactions
(107,427,986‌)
117,381,960‌
24,947,204‌
58,751,977‌
Total
Increase
(Decrease)
in
Net
Assets
(125,539,620‌)
140,507,556‌
11,092,363‌
69,575,169‌
Net
Assets
($):
Beginning
of
Period
180,809,749‌
40,302,193‌
100,409,131‌
30,833,962‌
End
of
Period
55,270,129‌
180,809,749‌
111,501,494‌
100,409,131‌
Changes
in
Shares
Outstanding:
Shares
sold
200,000‌
1,800,000‌
350,000‌
850,000‌
Shares
redeemed
(1,380,000‌)
(550,020‌)
—‌
(50,020‌)
Net
Increase
(Decrease)
in
Shares
Outstanding
(1,180,000‌)
1,249,980‌
350,000‌
799,980‌
123
See
Notes
to
Financial
Statements
BNY
Mellon
Emerging
Markets
Equity
ETF
BNY
Mellon
Core
Bond
ETF
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Operations
($):
Net
investment
income
387,763‌
809,553‌
1,859,842‌
1,086,481‌
Net
realized
gain
(loss)
on
investments
(409,525‌)
1,998,795‌
(1,845,793‌)
(274,783‌)
Net
change
in
unrealized
appreciation
(depreciation)
on
investments
(4,922,737‌)
2,169,413‌
(26,365,877‌)
(1,354,620‌)
Net
Increase
(Decrease)
in
Net
Assets
Resulting
from
Operations
(4,944,499‌)
4,977,761‌
(26,351,828‌)
(542,922‌)
Distributions
($):
Distributions
to
shareholders
(325,914‌)
(972,152‌)
(1,916,870‌)
(1,359,087‌)
Capital
Contributions
($):
Capital
contributions
from
BNY
Mellon
ETF
Investment
Adviser,
LLC—Note
3(a)
—
—
5,047
3,938
Beneficial
Interest
Transactions
($):
Proceeds
from
shares
sold
—‌
11,443,423‌
129,837,542‌
166,102,974‌
Cost
of
shares
redeemed
—‌
(11,388,636‌)
—‌
(14,703,568‌)
Transaction
fees—Note
5
—‌
—‌
50,830‌
—‌
Increase
(Decrease)
in
Net
Assets
from
Beneficial
Interest
Transactions
—‌
54,787‌
129,888,372‌
151,399,406‌
Total
Increase
(Decrease)
in
Net
Assets
(5,270,413‌)
4,060,396‌
101,624,721‌
149,501,335‌
Net
Assets
($):
Beginning
of
Period
38,411,139‌
34,350,743‌
194,749,111‌
45,247,776‌
End
of
Period
33,140,726‌
38,411,139‌
296,373,832‌
194,749,111‌
Changes
in
Shares
Outstanding:
Shares
sold
—‌
150,000‌
2,750,000‌
3,350,000‌
Shares
redeemed
—‌
(150,020‌)
—‌
(300,020‌)
Net
Increase
(Decrease)
in
Shares
Outstanding
—‌
(20‌)
2,750,000‌
3,049,980‌
124
STATEMENTS
OF
CHANGES
IN
NET
ASSETS
(continued)
See
Notes
to
Financial
Statements
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
BNY
Mellon
High
Yield
Beta
ETF
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Operations
($):
Net
investment
income
353,708‌
468,298‌
1,212,7
19‌
2,287,367‌
Net
realized
gain
(loss)
on
investments
(103,612‌)
198,278‌
(201,16
3‌
)
3,087,600‌
Net
change
in
unrealized
appreciation
(depreciation)
on
investments
(3,270,732‌)
(581,431‌)
(4,817,299‌)
(429,070‌)
Net
Increase
(Decrease)
in
Net
Assets
Resulting
from
Operations
(3,020,636‌)
85,145‌
(3,805,743‌)
4,945,897‌
Distributions
($):
Distributions
to
shareholders
(525,723‌)
(575,018‌)
(2,116,900‌)
(2,670,999‌)
Beneficial
Interest
Transactions
($):
Proceeds
from
shares
sold
15,142,922‌
15,408,150‌
13,546,110‌
25,188,091‌
Cost
of
shares
redeemed
—‌
(1,024‌)
(13,043,443‌)
(33,731,514‌)
Increase
(Decrease)
in
Net
Assets
from
Beneficial
Interest
Transactions
15,142,922‌
15,407,126‌
502,667‌
(8,543,423‌)
Total
Increase
(Decrease)
in
Net
Assets
11,596,563‌
14,917,253‌
(5,419,976‌)
(6,268,525‌)
Net
Assets
($):
Beginning
of
Period
43,296,880‌
28,379,627‌
47,793,409‌
54,061,934‌
End
of
Period
54,893,443‌
43,296,880‌
42,373,433‌
47,793,409‌
Changes
in
Shares
Outstanding:
Shares
sold
300,000‌
300,000‌
250,000‌
450,000‌
Shares
redeemed
—‌
(20‌)
(250,000‌)
(600,020‌)
Net
Increase
(Decrease)
in
Shares
Outstanding
300,000‌
299,980‌
—‌
(150,020‌)
125
FINANCIAL
HIGHLIGHTS
The
following
tables
describe
the
performance
for
the
fiscal
periods
indicated
and
these
figures
have
been
derived
from
the
funds’
financial
statements.
See
Notes
to
Financial
Statements
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Six
Months
Ended
April
30,
2022
(Unaudited) 
Year
Ended
October
31,
2021 
For
the
Period
April
9,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
87.00‌
61.95‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
0.56‌
1.06‌
0.56‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(10.59‌)
24.90‌
11.81‌
Total
from
Investment
Operations
(10.03‌)
25.96‌
12.37‌
Distributions:
Dividends
from
net
investment
income
(0.51‌)
(0.91‌)
(0.42‌)
Net
asset
value,
end
of
period
76.46‌
87.00‌
61.95‌
Market
price,
end
of
period
(c)
76.37‌
87.03‌
61.82‌
Net
Asset
Value
Total
Return
(%)
(d)
(11.59‌)
42.08‌
24.76‌
Market
Price
Total
Return
(%)
(d)
(11.73‌)
42.42‌
24.50‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
–‌
(e),(f)
–‌
(f)
–‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
1.34‌
(e),(f)
1.35‌
(f)
1.63‌
(e)
Portfolio
Turnover
Rate
(g)
2.5
1‌
10.53‌
10.62‌
Net
Assets,
end
of
period
($
x
1,000)
480,944‌
391,486‌
93,045‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
126
See
Notes
to
Financial
Statements
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Six
Months
Ended
April
30,
2022
(Unaudited) 
Year
Ended
October
31,
2021 
For
the
Period
April
9,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
94.03‌
65.66‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
0.70‌
1.07‌
0.50‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(10.92‌)
28.28‌
15.63‌
Total
from
Investment
Operations
(10.22‌)
29.35‌
16.13‌
Distributions:
Dividends
from
net
investment
income
(0.64‌)
(0.98‌)
(0.47‌)
Net
asset
value,
end
of
period
83.17‌
94.03‌
65.66‌
Market
price,
end
of
period
(c)
83.13‌
94.11‌
65.55‌
Net
Asset
Value
Total
Return
(%)
(d)
(10.94‌)
44.87‌
32.27‌
Market
Price
Total
Return
(%)
(d)
(11.05‌)
45.23‌
32.06‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
0.04‌
(e),(f)
0.04‌
(f)
0.04‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
1.56‌
(e),(f)
1.24‌
(f)
1.43‌
(e)
Portfolio
Turnover
Rate
(g)
11.32‌
32.65‌
21.26‌
Net
Assets,
end
of
period
($
x
1,000)
97,315‌
112,841‌
39,396‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
127
FINANCIAL
HIGHLIGHTS
(continued)
See
Notes
to
Financial
Statements
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Six
Months
Ended
April
30,
2022
(Unaudited) 
Year
Ended
October
31,
2021 
For
the
Period
April
9,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
97.73‌
67.17‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
0.65‌
1.25‌
0.49‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(15.26‌)
30.31‌
17.14‌
Total
from
Investment
Operations
(14.61‌)
31.56‌
17.63‌
Distributions:
Dividends
from
net
investment
income
(0.63‌)
(1.00‌)
(0.46‌)
Net
asset
value,
end
of
period
82.49‌
97.73‌
67.17‌
Market
price,
end
of
period
(c)
82.41‌
97.86‌
67.03‌
Net
Asset
Value
Total
Return
(%)
(d)
(15.03‌)
47.08‌
35.30‌
Market
Price
Total
Return
(%)
(d)
(15.22‌)
47.59‌
35.03‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
0.04‌
(e),(f)
0.04‌
(f)
0.04‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
1.40‌
(e),(f)
1.34‌
(f)
1.37‌
(e)
Portfolio
Turnover
Rate
(g)
18.24‌
50.09‌
32.54‌
Net
Assets,
end
of
period
($
x
1,000)
55,270‌
180,810‌
40,302‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
128
See
Notes
to
Financial
Statements
BNY
Mellon
International
Equity
ETF
Six
Months
Ended
April
30,
2022
(Unaudited) 
Year
Ended
October
31,
2021 
For
the
Period
April
24,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
74.38‌
56.06‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
1.05‌
1.82‌
0.76‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(8.93‌)
18.31‌
6.00‌
Total
from
Investment
Operations
(7.88‌)
20.13‌
6.76‌
Distributions:
Dividends
from
net
investment
income
(0.91‌)
(1.81‌)
(0.70‌)
Net
asset
value,
end
of
period
65.59‌
74.38‌
56.06‌
Market
price,
end
of
period
(c)
65.03‌
74.86‌
56.66‌
Net
Asset
Value
Total
Return
(%)
(d)
(10.69‌)
36.10‌
13.49‌
Market
Price
Total
Return
(%)
(d)
(12.03‌)
35.52‌
14.69‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
0.04‌
(e),(f)
0.04‌
(f)
0.04‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
2.98‌
(e),(f)
2.57‌
(f)
2.55‌
(e)
Portfolio
Turnover
Rate
(g)
8.27‌
13.49‌
12.82‌
Net
Assets,
end
of
period
($
x
1,000)
111,501‌
100,409‌
30,834‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
129
FINANCIAL
HIGHLIGHTS
(continued)
See
Notes
to
Financial
Statements
BNY
Mellon
Emerging
Markets
Equity
ETF
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
For
the
Period
April
24,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
69.84‌
62.45‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
0.71‌
1.47‌
0.81‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(9.70‌)
7.69‌
12.40‌
Total
from
Investment
Operations
(8.99‌)
9.16‌
13.21‌
Distributions:
Dividends
from
net
investment
income
(0.59‌)
(1.77‌)
(0.76‌)
Net
asset
value,
end
of
period
60.26‌
69.84‌
62.45‌
Market
price,
end
of
period
(c)
59.52‌
69.90‌
62.92‌
Net
Asset
Value
Total
Return
(%)
(d)
(12.9
3‌
)
14.61‌
26.52‌
Market
Price
Total
Return
(%)
(d)
(14.08‌)
13.83‌
27.44‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
0.11‌
(e),(f)
0.11‌
(f)
0.11‌
(e)
Ratio
of
net
expenses
to
average
net
assets
0.11‌
(e),(f)
0.11‌
(f)
0.11‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
2.15‌
(e),(f)
2.00‌
(f)
2.63‌
(e)
Portfolio
Turnover
Rate
(g)
7.10‌
17.42‌
12.84‌
Net
Assets,
end
of
period
($
x
1,000)
33,141‌
38,411‌
34,351‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
130
See
Notes
to
Financial
Statements
BNY
Mellon
Core
Bond
ETF
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
For
the
Period
April
24,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
49.30‌
50.27‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
0.37‌
0.55‌
0.32‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(5.05‌)
(0.75‌)
0.33‌
Total
from
Investment
Operations
(4.68‌)
(0.20‌)
0.65‌
Distributions:
Dividends
from
net
investment
income
(0.40‌)
(0.77‌)
(0.38‌)
Transaction
fees
(b)
0.01‌
—‌
—‌
Net
asset
value,
end
of
period
44.23‌
49.30‌
50.27‌
Market
price,
end
of
period
(c)
44.26‌
49.33‌
50.29‌
Net
Asset
Value
Total
Return
(%)
(d)
(9.54‌)
(0.41‌)
1.30‌
Market
Price
Total
Return
(%)
(d)
(9.53‌)
(0.38‌)
1.33‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
–‌
(e),(f)
–‌
(f)
–‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
1.58‌
(e),(f)
1.12‌
(f)
1.20‌
(e)
Portfolio
Turnover
Rate
(g)
52.16‌
105.97‌
27.32‌
Net
Assets,
end
of
period
($
x
1,000)
296,374‌
194,745‌
45,248‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
131
FINANCIAL
HIGHLIGHTS
(continued)
See
Notes
to
Financial
Statements
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
Six
Months
Ended
April
30,
2022
(Unaudited) 
Year
Ended
October
31,
2021 
For
the
Period
April
24,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
50.94‌
51.60‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
0.33‌
0.70‌
0.44‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(3.01‌)
(0.44‌)
1.53‌
Total
from
Investment
Operations
(2.68‌)
0.26‌
1.97‌
Distributions:
Dividends
from
net
investment
income
(0.32‌)
(0.72‌)
(0.37‌)
Dividends
from
net
realized
gain
on
investments
(0.21‌)
(0.20‌)
—‌
Total
Distributions
(0.53‌)
(0.92‌)
(0.37‌)
Net
asset
value,
end
of
period
47.73‌
50.94‌
51.60‌
Market
price,
end
of
period
(c)
47.74‌
50.96‌
51.65‌
Net
Asset
Value
Total
Return
(%)
(d)
(5.31‌)
0.49‌
3.94‌
Market
Price
Total
Return
(%)
(d)
(5.34‌)
0.44‌
4.05‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
0.06‌
(e),(f)
0.06‌
(f)
0.06‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
1.36‌
(e),(f)
1.37‌
(f)
1.65‌
(e)
Portfolio
Turnover
Rate
(g)
20.99‌
41.25‌
24.94‌
Net
Assets,
end
of
period
($
x
1,000)
54,893‌
43,297‌
28,380‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
132
See
Notes
to
Financial
Statements
BNY
Mellon
High
Yield
Beta
ETF
Six
Months
Ended
April
30,
2022
(Unaudited) 
Year
Ended
October
31,
2021 
For
the
Period
April
24,
2020
(a)
to
October
31,
2020
Per
Share
Data
($):
Net
asset
value,
beginning
of
period
56.23‌
54.06‌
50.00‌
Investment
Operations:
Net
investment
income
(b)
1.32‌
2.80‌
1.70‌
Net
realized
and
unrealized
gain
(loss)
on
investments
(5.31‌)
2.66‌
3.74‌
Total
from
Investment
Operations
(3.99‌)
5.46‌
5.44‌
Distributions:
Dividends
from
net
investment
income
(1.41‌)
(2.87‌)
(1.38‌)
Dividends
from
net
realized
gain
on
investments
(0.98‌)
(0.42‌)
—‌
Total
Distributions
(2.39‌)
(3.29‌)
(1.38‌)
Net
asset
value,
end
of
period
49.85‌
56.23‌
54.06‌
Market
price,
end
of
period
(c)
49.65‌
56.24‌
54.08‌
Net
Asset
Value
Total
Return
(%)
(d)
(7.39‌)
10.27‌
10.94‌
Market
Price
Total
Return
(%)
(d)
(7.79‌)
10.25‌
10.98‌
Ratios/Supplemental
Data
(%):
Ratio
of
total
expenses
to
average
net
assets
0.22‌
(e),(f)
0.22‌
(f)
0.22‌
(e)
Ratio
of
net
investment
income
to
average
net
assets
4.97‌
(e),(f)
4.98‌
(f)
6.06‌
(e)
Portfolio
Turnover
Rate
(g)
13.23‌
61.03‌
39.43‌
Net
Assets,
end
of
period
($
x
1,000)
42,373‌
47,793‌
54,062‌
(a)
Commencement
of
operations.
(b)
Based
on
average
shares
outstanding.
(c)
The
mean
between
the
last
bid
and
ask
prices.
(d)
Net
asset
value
total
return
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period,
and
redemption
at
net
asset
value
on
the
last
day
of
the
period.
Net
asset
value
total
return
includes
adjustments
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
and
as
such,
the
net
asset
value
for
financial
reporting
purposes
and
the
returns
based
upon
those
net
asset
values
may
differ
from
the
net
asset
value
and
returns
for
shareholder
transactions.
Market
price
total
return
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period,
and
sale
at
the
market
price
on
the
last
day
of
the
period.
Total
investment
returns
calculated
for
a
period
of
less
than
one
year
are
not
annualized.
(e)
Annualized.
(f)
Amounts
do
not
include
the
expenses
of
the
underlying
fund.
(g)
Portfolio
turnover
rate
is
not
annualized
for
periods
less
than
one
year,
if
applicable,
and
does
not
include
securities
received
or
delivered
from
processing
creations
or
redemptions.
133
NOTES
TO
FINANCIAL
STATEMENTS
NOTE
1—Organization:
BNY
Mellon
ETF
Trust
(the
“Trust”) is
registered as
a
Massachusetts
business
trust
under
the
Investment
Company
Act
of
1940,
as
amended
(the
“Act”),
as
an
open-end
management
investment
company.
The
Trust
operates
as
a
series
company
currently
consisting
of
fourteen
series,
including
the
following
diversified
funds:
BNY
Mellon
US
Large
Cap
Core
Equity
ETF,
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF,
BNY
Mellon
US
Small
Cap
Core
Equity
ETF,
BNY
Mellon
International
Equity
ETF,
BNY
Mellon
Emerging
Markets
Equity
ETF,
BNY
Mellon
Core
Bond
ETF,
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
and
BNY
Mellon
High
Yield
Beta
ETF
(each,
a
“fund”
and
collectively,
the
“funds”).
The
investment
objective
of
each
fund
is
to
seek
to
track
the
performance
of
an
underlying
index,
as
reflected
in
the
table below.
BNY
Mellon
ETF
Investment
Adviser,
LLC
(the
“Adviser”),
a
wholly-owned
subsidiary
of
The
Bank
of
New
York
Mellon
Corporation
(“BNY
Mellon”),
serves
as
each
fund’s
investment
adviser.
The
Bank
of
New
York
Mellon,
a
subsidiary
of
BNY
Mellon
and
an
affiliate
of
the
Adviser,
serves
as
administrator,
custodian
and
transfer
agent
with
the
Trust.
Mellon
Investments
Corporation
(“Mellon”),
a
wholly-owned
subsidiary
of
BNY
Mellon
and
an
affiliate
of
the
Adviser,
serves
as
each
fund’s
sub-adviser,
except
for
BNY
Mellon
High
Yield
Beta
ETF.
Insight
North
America
LLC
(“INA”),
a
wholly-owned
subsidiary
of
BNY
Mellon
and
an
affiliate
of
the
Adviser,
serves
as
BNY
Mellon
High
Yield
Beta
ETF’s
sub-adviser.
BNY
Mellon
Securities
Corporation
(the
“Distributor”),
a
wholly-owned
subsidiary
of
the
Adviser,
is
the
distributor
of
each
fund’s
shares.
†
Morningstar
®
is
a
service
mark
of
Morningstar,
Inc.
and
has
been
licensed
for
use
for
certain
purposes
by
the
Adviser.
The
fund
is
not
sponsored,
endorsed,
sold
or
promoted
by
Morningstar,
and
Morningstar
makes
no
representation
regarding
the
advisability
of
investing
in
the
fund.
††
Bloomberg
®
is
a
trademark
and
service
mark
of
Bloomberg
Finance
L.P.
and
its
affiliates
(collectively,
“Bloomberg”).
Bloomberg
or
Bloomberg’s
licensors
own
all
proprietary
rights
in
the
Bloomberg
Indices.
Bloomberg
is
not
affiliated
with
the
Trust,
and
neither
approves,
endorses,
reviews
or
recommends
the
fund.
Bloomberg
does
not
guarantee
the
timeliness,
accurateness
or
completeness
of
any
data
or
information
relating
to
the
index,
and
neither
shall
be
liable
in
any
way
to
the
Adviser,
investors
in
the
fund
or
other
third
parties
in
respect
of
the
use
or
accuracy
of
the
index
or
any
data
included
therein.
The
shares
of
the
funds
are
referred
to
herein
as
“Shares”
or
“fund’s
Shares.”
Each
fund’s
Shares
are
listed
and
traded
on
NYSE
Arca,
Inc.
The
market
price
of
each
Share
may
differ
to
some
degree
from
a
fund’s
net
asset
value
(“NAV”).
Unlike
conventional
mutual
funds,
each
fund
issues
and
redeems
Shares
on
a
continuous
basis,
at
NAV,
only
in
a
large
specified
number
of
Shares,
each
called
a
“Creation
Unit.”
Creation
Units
are
issued
and
redeemed
principally
in
exchange
for
the
deposit
or
delivery
of
a
basket
of
securities.
Except
when
aggregated
in
Creation
Units
by
Authorized
Participants,
the
Shares
are
not
individually
redeemable
securities
of
the
funds.
Individual
fund
Shares
may
only
be
purchased
and
sold
on
the
NYSE
Arca,
Inc.,
other
national
securities
exchanges,
electronic
crossing
networks
and
other
alternative
trading
systems
through
your
broker-dealer
at
market
prices.
Because
fund
Shares
trade
at
market
prices
rather
than
at
NAV,
fund
Shares
may
trade
at
a
price
greater
than
NAV
(premium)
or
less
than
NAV
(discount).
When
buying
or
selling
Shares
in
the
secondary
market,
you
may
incur
costs
attributable
to
the
difference
between
the
highest
price
a
buyer
is
willing
to
pay
to
purchase
Shares
of
the
fund
(bid)
and
the
lowest
price
a
seller
is
willing
to
accept
for
Shares
of
the
fund
(ask).
NOTE
2—Significant
Accounting
Policies:
The
Financial
Accounting
Standards
Board
(“FASB”)
Accounting
Standards
Codification
(“ASC”)
is
the
exclusive
reference
of
authoritative
U.S.
generally
accepted
accounting
principles
(“GAAP”)
recognized
by
the
FASB
to
be
applied
by
nongovernmental
entities.
Rules
and
interpretive
releases
of
the
SEC
under
authority
of
federal
laws
are
also
sources
of
authoritative
GAAP
for
SEC
registrants.
Each
fund
is
an
investment
company
and
applies
the
accounting
and
reporting
guidance
of
the
FASB
ASC
Topic
946
Financial
Services-
Investment
Companies.
Each
fund’s
financial
statements
are
prepared
in
accordance
with
GAAP,
which
may
require
the
use
of
management
estimates
and
assumptions.
Actual
results
could
differ
from
those
estimates.
The
Trust
accounts
separately
for
the
assets,
liabilities
and
operations
of
each
fund.
Expenses
directly
attributable
to
each
fund
are
charged
to
that
fund’s
operations;
expenses
which
are
applicable
to
all
funds
are
allocated
among
them
on
a
pro
rata
basis.
The
Trust
enters
into
contracts
that
contain
a
variety
of
indemnifications.
The
funds’
maximum
exposure
under
these
arrangements
is
unknown.
The
funds
do
not
anticipate
recognizing
any
loss
related
to
these
arrangements. 
(a)
Portfolio
valuation:
The
fair
value
of
a
financial
instrument
is
the
amount
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
at
the
measurement
date
(i.e.,
the
exit
price).
GAAP
establishes
a
fair
value
hierarchy
that
prioritizes
the
inputs
of
valuation
techniques
used
to
measure
fair
value.
This
hierarchy
gives
the
highest
priority
to
unadjusted
quoted
prices
in
active
 Fund
Name
Underlying
Index
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Morningstar®
US
Large
Cap
Index
SM
†
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Morningstar®
US
Mid
Cap
Index
SM
†
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Morningstar®
US
Small
Cap
Index
SM
†
BNY
Mellon
International
Equity
ETF
Morningstar®
Developed
Markets
ex-US
Large
Cap
Index
SM
†
BNY
Mellon
Emerging
Markets
Equity
ETF
Morningstar®
Emerging
Markets
Large
Cap
Index
SM
†
BNY
Mellon
Core
Bond
ETF
Bloomberg
US
Aggregate
Total
Return
Index
††
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
Bloomberg
US
Corporate
1-5
Years
Total
Return
Index
††
BNY
Mellon
High
Yield
Beta
ETF
Bloomberg
US
Corporate
High
Yield
Total
Return
Index
††
134
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
markets
for
identical
assets
or
liabilities
(Level
1
measurements)
and
the
lowest
priority
to
unobservable
inputs
(Level
3
measurements).
Additionally,
GAAP
provides
guidance
on
determining
whether
the
volume
and
activity
in
a
market
has
decreased
significantly
and
whether
such
a
decrease
in
activity
results
in
transactions
that
are
not
orderly.
GAAP
requires
enhanced
disclosures
around
valuation
inputs
and
techniques
used
during
annual
and
interim
periods.
Various
inputs
are
used
in
determining
the
value
of
each
fund’s
investments
relating
to
fair
value
measurements.
These
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1
—
unadjusted
quoted
prices
in
active
markets
for
identical
investments.
Level
2
—
other
significant
observable
inputs
(including
quoted
prices
for
similar
investments,
interest
rates,
prepayment
speeds,
credit
risk,
etc.).
Level
3
—
significant
unobservable
inputs
(including
the
funds’
own
assumptions
in
determining
the
fair
value
of
investments).
The
inputs
or
methodology
used
for
valuing
securities
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
securities.
Changes
in
valuation
techniques
may
result
in
transfers
in
or
out
of
an
assigned
level
within
the
disclosure
hierarchy.
Valuation
techniques
used
to
value
each
fund’s
investments
are
as
follows:
Investments
in
equity
securities,
including
ETFs
(but
not
including
investments
in
other
open-end
registered
investment
companies)
are
valued
at
the
last
sales
price
on
the
securities
exchange
or
national
securities
market
on
which
such
securities
are
primarily
traded.
Securities
listed
on
the
National Association
of
Securities
Dealers
Automated
Quotation
System
for
which
market
quotations
are
available
are
valued
at
the
official
closing
price
or,
if
there
is
no
official
closing
price
that
day,
at
the
last
sales
price.
For
open
short
positions,
asked
prices
are
used
for
valuation
purposes.
Bid
price
is
used
when
no
asked
price
is
available.
Registered
investment
companies
that
are
not
traded
on
an
exchange
are
valued
at
their
net
asset
value.
All
of
the
preceding
securities
are
generally
categorized
within
Level
1
of
the
fair
value
hierarchy.
Investments
in
debt
securities
excluding
short-term
investments
(other
than
U.S.
Treasury
Bills),
are
valued
each
business
day
by
one
or
more
independent
pricing
services
(each,
a
“Service”)
approved
by
the
Trust’s Board
of
Trustees
(the
“Board”).
Investments
for
which
quoted
bid
prices
are
readily
available
and
are
representative
of
the
bid
side
of
the
market
in
the
judgment
of
the
Service
are
valued
at
the
quoted
bid
prices
(as
obtained
by
the
Service
from
dealers
in
such
securities).
Securities
are
valued
as
determined
by
a
Service,
based
on
methods
which
include
consideration
of
the
following:
yields
or
prices
of
securities
of
comparable
quality,
coupon,
maturity
and
type;
indications
as
to
values
from
dealers;
and
general
market
conditions.
These
securities
are
generally
categorized
within
Level
2
of
the
fair
value
hierarchy.
Each
Service
and
independent
valuation
firm
is
engaged
under
the
general
oversight
of
the
Board.
When
market
quotations
or
official
closing
prices
are
not
readily
available,
or
are
determined
not
to
reflect
accurately
fair
value,
such
as
when
the
value
of
a
security
has
been
significantly
affected
by
events
after
the
close
of
the
exchange
or
market
on
which
the
security
is
principally
traded
(for
example,
a
foreign
exchange
or
market),
but
before
the
funds
calculate
their
net
asset
value,
the
funds
may
value
these
investments
at
fair
value
as
determined
in
accordance
with
the
procedures
approved
by
the
Board.
Certain
factors
may
be
considered
when
fair
valuing
investments
such
as:
fundamental
analytical
data,
the
nature
and
duration
of
restrictions
on
disposition,
an
evaluation
of
the
forces
that
influence
the
market
in
which
the
securities
are
purchased
and
sold,
and
public
trading
in
similar
securities
of
the
issuer
or
comparable
issuers.
These
securities
are
either
categorized
within
Level
2
or
3
of
the
fair
value
hierarchy
depending
on
the
relevant
inputs
used.
For
securities
where
observable
inputs
are
limited,
assumptions
about
market
activity
and
risk
are
used
and
are
generally
categorized
within
Level
3
of
the
fair
value
hierarchy.
Investments
denominated
in
foreign
currencies
are
translated
to
U.S.
dollars
at
the
prevailing
rates
of
exchange.
Futures,
which
are
traded
on
an
exchange,
are
valued
at
the
last
sales
price
on
securities
exchange
on
which
such
contracts
are
primarily
traded
or
at
the
last
sales
price
on
the
exchange
on
each
business
day and
are
generally
categorized
within
Level
1
of
the
fair
value
hierarchy.
Swap
agreements are
valued
by
the
Service
by
using
a
swap
pricing
model
which
incorporates
among
other
factors,
default
probabilities,
recovery
rates,
credit
curves
of
the
underlying
issuer
and
swap
spreads
on
interest
rates
and
are
generally
categorized
within
Level
2
of
the
fair
value
hierarchy. 
The
table
below
summarizes
the
inputs
used
as
of April
30,
2022
in
valuing
each
fund’s
investments:
135
Fair
Value
Measurements
Investments
in
Securities
†
Level
1
—
Unadjusted
Quoted
Prices
Level
2
—
Other
Significant
Observable
Inputs
Level
3
—
Significant
Unobservable
Inputs
Assets
($)
Liabilities
($)
Assets
($)
Liabilities
($)
Assets
($)
Liabilities
($)
Total
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Common
Stocks
479,696,140
—
—
—
—
—
479,696,140
Investment
Companies
1,027,130
—
—
—
—
—
1,027,130
Investment
of
Cash
Collateral
for
Securities
Loaned
190,102
—
—
—
—
—
190,102
Other
Financial
Instruments:
Futures
††
—
(101,035)
—
—
—
—
(101,035)
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Common
Stocks
97,056,565
—
—
—
—
—
97,056,565
Investment
Companies
215,056
—
—
—
—
—
215,056
Investment
of
Cash
Collateral
for
Securities
Loaned
787,140
—
—
—
—
—
787,140
Other
Financial
Instruments:
Futures
††
—
(20,335)
—
—
—
—
(20,335)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Common
Stocks
55,158,684
—
—
—
—
—
55,158,684
Investment
Companies
72,876
—
—
—
—
—
72,876
Investment
of
Cash
Collateral
for
Securities
Loaned
1,131,310
—
—
—
—
—
1,131,310
Other
Financial
Instruments:
Futures
††
—
(5,642)
—
—
—
—
(5,642)
BNY
Mellon
International
Equity
ETF
Common
Stocks
110,369,303
—
—
—
0
—
110,369,303
Preferred
Stocks
421,163
—
—
—
—
—
421,163
Investment
Companies
41,756
—
—
—
—
—
41,756
Investment
of
Cash
Collateral
for
Securities
Loaned
132,186
—
—
—
—
—
132,186
Other
Financial
Instruments:
Futures
††
—
(42,780)
—
—
—
—
(42,780)
BNY
Mellon
Emerging
Markets
Equity
ETF
Common
Stocks
32,211,829
—
7,588
—
0
—
32,219,417
Corporate
Bonds
—
—
255
—
—
—
255
Preferred
Stocks
825,125
—
—
—
0
—
825,125
Rights
—
—
0
—
—
—
0
Investment
Companies
26,961
—
—
—
—
—
26,961
Investment
of
Cash
Collateral
for
Securities
Loaned
46,536
—
—
—
—
—
46,536
Other
Financial
Instruments:
Futures
††
—
(2,019)
—
—
—
—
(2,019)
BNY
Mellon
Core
Bond
ETF
Asset-Backed
Securities
—
—
727,012
—
—
—
727,012
Commercial
Mortgage-Backed
Securities
—
—
3,117,439
—
—
—
3,117,439
Corporate
Bonds
—
—
72,288,319
—
—
—
72,288,319
Foreign
Governmental
—
—
5,354,616
—
—
—
5,354,616
Municipal
Securities
—
—
957,693
—
—
—
957,693
Supranational
Bank
—
—
4,748,550
—
—
—
4,748,550
U.S.
Government
Agencies
—
—
88,216,889
—
—
—
88,216,889
U.S.
Treasury
Government
Securities
—
—
118,791,603
—
—
—
118,791,603
Investment
Companies
13,928,374
—
—
—
—
—
13,928,374
Investment
of
Cash
Collateral
for
Securities
Loaned
6,300,306
—
—
—
—
—
6,300,306
136
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
The
following
is
a
reconciliation
of
Level
3
assets
for
which
significant
unobservable
inputs
were
used
to
determine
fair
value:
(b)
Foreign
currency
transactions:
Each
relevant
fund
does
not
isolate
that
portion
of
the
results
of
operations
resulting
from
changes
in
foreign
exchange
rates
on
investments
from
the
fluctuations
arising
from
changes
in
the
market
prices
of
securities
held.
Such
fluctuations
are
included
with
the
net
realized
and
unrealized
gain
or
loss
on
investments.
Net
realized
foreign
exchange
gains
or
losses
arise
from
sales
of
foreign
currencies,
currency
gains
or
losses
realized
on
securities
transactions
between
trade
and
settlement
date,
and
the
difference
between
the
amounts
of
dividends,
interest
and
foreign
withholding
taxes
recorded
on
the
funds’
books
and
the
U.S.
dollar
equivalent
of
the
amounts
actually
received
or
paid.
Net
unrealized
foreign
exchange
gains
and
losses
arise
from
changes
in
the
value
of
assets
and
liabilities
other
than
Investments
in
Securities
†
Level
1
—
Unadjusted
Quoted
Prices
Level
2
—
Other
Significant
Observable
Inputs
Level
3
—
Significant
Unobservable
Inputs
Assets
($)
Liabilities
($)
Assets
($)
Liabilities
($)
Assets
($)
Liabilities
($)
Total
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
Corporate
Bonds
—
—
54,386,393
—
—
—
54,386,393
Investment
Companies
1,335,367
—
—
—
—
—
1,335,367
Investment
of
Cash
Collateral
for
Securities
Loaned
207,350
—
—
—
—
—
207,350
BNY
Mellon
High
Yield
Beta
ETF
Corporate
Bonds
—
—
41,203,246
—
—
—
41,203,246
Investment
Companies
217,650
—
—
—
—
—
217,650
Investment
of
Cash
Collateral
for
Securities
Loaned
1,387,587
—
—
—
—
—
1,387,587
Other
Financial
Instruments:
Centrally
Cleared
Credit
Default
Swaps
††
—
—
—
(55,145)
—
—
(55,145)
†
See
Statement
of
Investments
for
additional
detailed
categorizations,
if
any.
††
Amount
shown
represents
unrealized
appreciation
(depreciation)
at
period
end,
but
only
variation
margin
on
exchange-traded
and
centrally
cleared
derivatives,
if
any,
are
reported
in
the
Statement
of
Assets
and
liabilities.
Equity
Securities
–
Common
Stocks
($)
BNY
Mellon
International
Equity
ETF
Balance
as
of
10/31/2021
—
Net
realized
gain
(loss)
—
Change
in
unrealized
appreciation
(depreciation)
(5,525)
Purchases/Issuances
—
Sales/Dispositions
—
Transfers
into
Level
3
†
5,525
Transfers
out
of
Level
3
—
Balance
as
of
4/30/2022
††
0
The
amount
of
total
net
gain
(loss)
for
the
period
included
in
earnings
attributable
to
the
change
in
unrealized
appreciation
(depreciation)
relating
to
investments
still
held
at
4/30/2022
(5,525)
BNY
Mellon
Emerging
Markets
Equity
ETF
Balance
as
of
10/31/2021
—
Net
realized
gain
(loss)
—
Change
in
unrealized
appreciation
(depreciation)
(566,296)
Purchases/Issuances
—
Sales/Dispositions
—
Transfers
into
Level
3
†
566,296
Transfers
out
of
Level
3
—
Balance
as
of
4/30/2022
††
0
The
amount
of
total
net
gain
(loss)
for
the
period
included
in
earnings
attributable
to
the
change
in
unrealized
appreciation
(depreciation)
relating
to
investments
still
held
at
4/30/2022
(566,296)
†
Transfers
into
Level
3
represent
the
value
at
the
date
of
transfer.
The
transfers
into
Level
3
for
the
current
period
were
due
to
the
lack
of
observable
inputs.
††
Securities
deemed
as
Level
3
due
to
the
lack
of
observable
inputs
by
management
assessment.
137
investments
resulting
from
changes
in
exchange
rates.
Foreign
currency
gains
and
losses
on
foreign
currency
transactions
are
also
included
with
net
realized
and
unrealized
gain
or
loss
on
investments.
Foreign
Taxes:
Each
relevant
fund
may
be
subject
to
foreign
taxes
(a
portion
of
which
may
be
reclaimable)
on
income,
stock
dividends,
realized
and
unrealized
capital
gains
on
investments
or
certain
foreign
currency
transactions.
Foreign
taxes
are
recorded
in
accordance
with
the
applicable
foreign
tax
regulations
and
rates
that
exist
in
the
foreign
jurisdictions
in
which
the
funds
invest.
These
foreign
taxes,
if
any,
are
paid
by
the
funds
and
are
reflected
in
the
Statements
of
Operations,
if
applicable.
Foreign
taxes
payable
or
deferred
or
those
subject
to
reclaims as
of 
April
30,
2022
,
if
any,
are
disclosed
in
the
funds’
Statements
of
Assets
and
Liabilities.
(c)
Securities
transactions
and
investment
income:
Securities
transactions
are
recorded
on
a
trade
date
basis.
Realized
gains
and
losses
from
securities
transactions
are
recorded
on
the
identified
cost
basis.
Dividend
income
is
recognized
on
the
ex-dividend
date
and
interest
income,
including,
where
applicable,
accretion
of
discount
and
amortization
of
premium
on
investments,
is
recognized
on
the
accrual
basis.
Pursuant
to
a
securities
lending
agreement
with
BNY
Mellon,
the
funds
may
lend
securities
to
qualified
institutions.
It
is
the
funds’
policy
that,
at
origination,
all
loans
are
secured
by
collateral
of
at
least
102%
of
the
value
of
U.S.
securities
loaned
and
105%
of
the
value
of
foreign
securities
loaned.
Collateral
equivalent
to
at
least
100%
of
the
market
value
of
securities
on
loan
is
maintained
at
all
times.
Collateral
is
either
in
the
form
of
cash,
which
can
be
invested
in
certain
money
market
mutual
funds
managed
by
the
Adviser,
or
U.S.
Government
and
Agency
securities.
The
funds
are
entitled
to
receive
all
dividends,
interest
and
distributions
on
securities
loaned,
in
addition
to
income
earned
as
a
result
of
the
lending
transaction.
Should
a
borrower
fail
to
return
the
securities
in
a
timely
manner,
The
Bank
of
New
York
Mellon
is
required
to
replace
the
securities
for
the
benefit
of
the
funds
or
credit
the
funds
with
the
market
value
of
the
unreturned
securities
and
is
subrogated
to
the
funds’
rights
against
the
borrower
and
the
collateral.
Additionally,
the
contractual
maturity
of
security
lending
transactions
are
on
an
overnight
and
continuous
basis.
The
table
below
summarizes
the
amount BNY
Mellon
earned
from
each
relevant
fund
from
lending
portfolio
securities,
pursuant
to
the
securities
lending
agreement
during
the
period
ended
April
30,
2022.
Securities
Lending
Agreement
(d)
Affiliated
issuers:
Investments
in
other
investment
companies
advised
by
the
Adviser
are
defined
as
“affiliated”
under
the
Act.
(e)
Risk:
Certain
events
particular
to
the
industries
in
which
BNY
Mellon
US
Large
Cap
Core
Equity
ETF,
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF,
BNY
Mellon
US
Small
Cap
Core
Equity
ETF,
BNY
Mellon
Core
Bond
ETF,
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
and
BNY
Mellon
High
Yield
Beta
ETF
investments
conduct
their
operations,
as
well
as
general
economic,
political
and
public
health
conditions,
may
have
a
significant
negative
impact
on
the
investee’s
operations
and
profitability.
BNY Mellon
International
Equity
ETF
and
BNY
Mellon
Emerging
Markets
Equity
ETF
invest
in
foreign
markets
which
may
involve
special
risks
and
considerations
not
typically
associated
with
investing
in
the
U.S.
These
risks
include
revaluation
of
currencies,
high
rates
of
inflation,
repatriation
restrictions
on
income
and
capital,
and
adverse
political,
economic
developments
and
public
health
conditions.
Moreover,
securities
issued
in
these
markets
may
be
less
liquid,
subject
to
government
ownership
controls
and
delayed
settlements,
and
their
prices
may
be
more
volatile
than
those
of
comparable
securities
in
the
U.S.
The BNY
Mellon
Emerging
Markets
Equity
ETF follows
an
investment
policy
of
investing
primarily
in
emerging
market
countries.
Because
the
fund’s
investments
are
concentrated
in
emerging
market
countries,
the
fund’s
performance
is
expected
to
be
closely
tied
to
social,
political
and
economic
conditions
within
such
countries
and
to
be
more
volatile
than
the
performance
of
more
geographically
diversified
funds. 
In
addition,
turbulence
in
financial
markets
and
reduced
liquidity
in
equity,
credit
and/or
fixed
income
markets
may
negatively
affect
many
issuers,
which
could
adversely
affect
each
fund.
Global
economies
and
financial
markets
are
becoming
increasingly
interconnected,
and
conditions
and
events
in
one
country,
region
or
financial
market
may
adversely
impact
issuers
in
a
different
country,
region
or
financial
market.
These
risks
may
be
magnified
if
certain
events
or
developments
adversely
interrupt
the
global
supply
chain;
in
these
and
other
circumstances,
such
risks
might
affect
companies
world-wide.
Recent
examples
include
pandemic
risks
related
to
COVID-19
and
aggressive
measures
taken
world-
wide
in
response
by
governments,
including
closing
borders,
restricting
international
and
domestic
travel,
and
the
imposition
of
prolonged
quarantines
of
large
populations,
and
by
businesses,
including
changes
to
operations
and
reducing
staff.
The
effects
of
COVID-19
have
contributed
to
increased
volatility
in
global
markets
and
will
likely
affect
certain
countries,
companies,
industries
and
market
sectors
more
dramatically
than
others.
The
COVID-19
pandemic
has
had,
and
any
other
outbreak
of
an
infectious
disease
or
other
serious
public
health
concern
could
have,
a
significant
negative
impact
on
economic
and
market
conditions
and
could
trigger
a
prolonged
period
of
global
economic
slowdown.
To
the
extent
the
funds
may
overweight
its
investments
in
certain
countries,
companies,
industries
or
market
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$
1,350
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
536
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
4,172
BNY
Mellon
International
Equity
ETF
2
BNY
Mellon
Emerging
Markets
Equity
ETF
8
BNY
Mellon
Core
Bond
ETF
881
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
49
BNY
Mellon
High
Yield
Beta
ETF
1,156
138
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
sectors,
such
positions
will
increase
each
fund’s
exposure
to
risk
of
loss
from
adverse
developments
affecting
those
countries,
companies,
industries
or
sectors. 
BNY
Mellon
Core
Bond
ETF,
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
and
BNY
Mellon
High
Yield
Beta
ETF
invests
in
debt
securities.
Failure
of
an
issuer
of
the
debt
securities
to
make
timely
interest
or
principal
payments,
or
a
decline
or
the
perception
of
a
decline
in
the
credit
quality
of
a
debt
security,
can
cause
the
debt
security’s
price
to
fall,
potentially
lowering
the
fund’s
share
price.
High
Yield
(“junk”)
bonds
involve
greater
credit
risk,
including
the
risk
of
default,
than
investment
grade
bonds,
and
are
considered
predominantly
speculative
with
respect
to
the
issuer’s
continuing
ability
to
make
principal
and
interest
payments.
In
addition,
the
value
of
debt
securities
may
decline
due
to
general
market
conditions
that
are
not
specifically
related
to
a
particular
issuer,
such
as
real
or
perceived
adverse
economic
conditions,
changes
in
outlook
for
corporate
earnings,
changes
in
interest
or
currency
rates
or
adverse
investor
sentiment.
They
may
also
decline
because
of
factors
that
affect
a
particular
industry.
(f)
Dividends
and
distributions
to
shareholders:
Dividends
and
distributions
payable
to
shareholders
are
recorded
by
each
fund
on
the
ex-dividend
date.
BNY
Mellon
US
Large
Cap
Core
Equity
ETF,
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF,
BNY
Mellon
US
Small
Cap
Core
Equity
ETF,
BNY
Mellon
International
Equity
ETF
and
BNY
Mellon
Emerging
Markets
Equity
ETF
normally
declare
and
pay
dividends
from
net investment
income
quarterly.
BNY
Mellon
Core
Bond
ETF,
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
and
BNY
Mellon
High
Yield
Beta
ETF
normally
declare
and
pays
dividends
from
net
investment
income
monthly.
Income
dividends
for
each
fund
may
vary
significantly
from
period
to
period. Dividends
from
net
realized
capital
gains,
if
any,
are
normally
declared
and
paid
annually,
but
each
fund
may
make
distributions
on
a
more
frequent
basis
to
comply
with
the
distribution
requirements
of
the
Internal
Revenue
Code
of
1986,
as
amended
(the
“Code”).
To
the
extent
that
net
realized
capital
gains
can
be
offset
by
capital
loss
carryovers
of
a
fund,
it
is
the
policy
of
each
fund
not
to
distribute
such
gains.
Income
and
capital
gain
distributions
are
determined
in
accordance
with
income
tax
regulations,
which
may
differ
from
GAAP.
(g)
Federal
income
taxes:
It
is
the
policy
of
each
fund
to
continue
to
qualify
as
a
regulated
investment
company,
if
such
qualification
is
in
the
best
interests
of
its
shareholders,
by
complying
with
the
applicable
provisions
of
the
Code,
and
to
make
distributions
of
taxable
income
sufficient
to
relieve
it
from
substantially
all
federal
income
and
excise
taxes.
For
federal
income
tax
purposes,
each
fund
is
treated
as
a
separate
entity
for
the
purpose
of
determining
such
qualification.
As
of
and
during
the period ended April
30,
2022,
the
funds
did
not
have
any
liabilities
for
any
uncertain
tax
positions.
Each
fund
recognizes
interest
and
penalties,
if
any,
related
to
uncertain
tax
positions
as
income
tax
expense
in
the
Statements
of
Operations.
During
the period
ended April
30,
2022,
the
funds
did
not
incur
any
interest
or
penalties.
Each
tax
year
in
the
two-year
period
ended
October
31,
2021 remains
subject
to
examination
by
the
Internal
Revenue
Service
and
state
taxing
authorities.
The
table below summarizes
each
relevant
fund’s
accumulated
capital
loss
carryover
available
for
federal
income
tax
purposes
to
be
applied
against
future
net
realized
capital
gains,
if
any,
realized
subsequent
to October
31,
2021.
Capital
Loss
Carryover
The
table below
summarizes
each
fund’s
tax
character
of
distributions
paid
to
shareholders
during
the
fiscal
year
ended October
31,
2021.
The
tax
character
of
current
year
distributions
will
be
determined
at
the
end
of
the
current
fiscal
year.
Tax
Character
of
Distributions
Paid
Short-Term
Losses
Long-Term
Losses
Total
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$1,167,135
$
-
$1,167,135
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
22,772
-
22,772
BNY
Mellon
International
Equity
ETF
465,786
24,892
490,678
BNY
Mellon
Emerging
Markets
Equity
ETF
311,539
120,209
431,748
BNY
Mellon
Core
Bond
ETF
552,586
111,572
664,158
Ordinary
Income
†
2021
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$3,307,327
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
1,097,103
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
1,262,690
BNY
Mellon
International
Equity
ETF
1,387,854
BNY
Mellon
Emerging
Markets
Equity
ETF
972,152
BNY
Mellon
Core
Bond
ETF
1,359,087
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
575,018
BNY
Mellon
High
Yield
Beta
ETF
2,670,999
†
Includes
short-term
capital
gain
distributions,
if
any.
139
(h)
New
Accounting
Pronouncement:
In
March
2020,
the
FASB
issued
Accounting
Standards
Update
2020-04,
Reference
Rate
Reform
(Topic
848):
Facilitation
of
the
Effects
of
Reference
Rate
Reform
on
Financial
Reporting
(“ASU
2020-04”),
and
in
January
2021,
the
FASB
issued
Accounting
Standards
Update
2021-01,
Reference
Rate
Reform
(Topic
848):
Scope
(“ASU
2021-
01”),
which
provides
optional,
temporary
relief
with
respect
to
the
financial
reporting
of
contracts
subject
to
certain
types
of
modifications
due
to
the
planned
discontinuation
of
the
London
Interbank
Offered
Rate
(“LIBOR”)
and
other
Interbank
Offered
Rate
(“IBOR”)-based
reference
rates
as
of
the
end
of
2021.
The
temporary
relief
provided
by
ASU
2020-04
and
ASU
2021-01 is
effective
for
certain
reference
rate-related
contract
modifications
that
occur
during
the
period
from
March
12,
2020
through
December
31,
2022.
Management
is
evaluating
the
impact
of
ASU
2020-04
and
ASU
2021-01 on
the
fund’s
investments,
derivatives,
debt
and
other
contracts
that
will
undergo
reference
rate-related
modifications
as
a
result
of
the
reference
rate
reform.
NOTE
3—Management
Fee,
Sub-Investment
Advisory
Fee
and
Other
Transactions
with
Affiliates:
(a)
Fees
payable
by
the
funds
pursuant
to
the
provisions
of
a
management
agreement
with
the
Adviser
are
payable
monthly,
computed
at
an
annual
rate on
the
average
daily
value
of
each
fund’s
net
assets
of
which
are
summarized
in
the
table
below.
Management
Agreement
Fees
For
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF,
BNY
Mellon
US
Small
Cap
Core
Equity
ETF,
BNY
Mellon
International
Equity
ETF,
BNY
Mellon
Emerging
Markets
Equity
ETF,
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
and
BNY
Mellon
High
Yield
Beta
ETF,
each
fund’s
management
agreement
provides
that
the
Adviser
pays
substantially
all
expenses
of
such
fund,
except
for
the
management
fees,
payments
under
the
fund’s
12b-
1
plan
(if
any),
interest
expenses,
taxes,
acquired
fund
fees
and
expenses,
brokerage
commissions,
costs
of
holding
shareholder
meetings,
fees
and
expenses
associated
with
the
fund’s
securities
lending
program,
and
litigation
and
potential
litigation
and
other
extraordinary
expenses
not
incurred
in
the
ordinary
course
of
the
fund’s
business.
The
Adviser
had
contractually
agreed,
from March
1,
2021
through
February
28,
2022,
to
waive
receipt
of
its
management
fees
and/or
assume
expenses
of
BNY
Mellon
Emerging
Markets
Equity
ETF
(excluding
payments
under
the
fund’s
12b-1
plan
(if
any),
interest
expenses,
taxes,
brokerage
commissions,
costs
of
holding
shareholder
meetings,
fees
and
expenses
associated
with
the
fund’s
securities
lending
program,
and
litigation
and
potential
litigation
and
other
extraordinary
expenses
not
incurred
in
the
ordinary
course
of
the
fund’s
business)
did
not
exceed
0.11%
of
the
value
of
the
fund’s
average
daily
net
assets.
For
the
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
and
the
BNY
Mellon
Core
Bond
ETF,
each
fund’s
management
agreement
provides
that
the
Adviser
pays
substantially
all
expenses
of
such
fund,
except
for
the
management
fees,
interest
expenses,
taxes,
brokerage
commissions,
costs
of
holding
shareholder
meetings,
fees
and
expenses
associated
with
the
fund’s
securities
lending
program,
and
litigation
and
potential
litigation
and
other
extraordinary
expenses
not
incurred
in
the
ordinary
course
of
the
fund’s
business.
For
the
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
and
the
BNY
Mellon
Core
Bond
ETF,
each
fund’s
management
agreement
provides
that
the
Adviser
pays
all
acquired
fund
fees
and
expenses.
The
Adviser
may
from
time
to
time
voluntarily
waive
and/or
reimburse
fees
or
expenses
in
order
to
limit
total
annual
fund
operating
expenses.
Any
such
voluntary
waiver
or
reimbursement
may
be
eliminated
by
the
Adviser
at
any
time.
For
financial
reporting
purposes
such
payments
pursuant
to
undertakings
above
will
be
considered
a
reduction
in
expenses
presented
in
the
Statement
of
Operations.
If
such
payments
made
to
certain
funds
would
be
excess
over
expenses
borne
directly
by
each
fund,
such
payments
will
be
considered
Capital
Contributions
from
Adviser
presented
in
the
Statement
of
Changes.
During
the
period
ended
April
30,
2022,
there
was
no
impact
on
the
Total
Return
of
each
relevant
fund
as
a
result
of
the
Capital
Contributions
from
Adviser.
The
table
below
summarizes
the
amounts
pursuant
to
undertakings
during
the period ended
April
30,
2022.
Reduction
in
expenses/Capital
Contributions
from
Adviser
Pursuant
to
undertakings
Pursuant
to
a
sub-investment
advisory
agreement
between
Mellon
and
the
Adviser,
the
Adviser
pays
Mellon
a
monthly
fee
at
an
annual
percentage
of
the
value
of
each
fund’s
average
daily
net
assets,
except
for
BNY
Mellon
High
Yield
Beta
ETF
which
pays
INA
a
monthly
fee
at
an
annual
percentage
of
the
value
of
the
fund's
average
daily
net
assets.
The
Adviser
has
obtained
an
exemptive
order
from
the
SEC
(the
“Order”),
upon
which
each
fund
may
rely,
to
use
a
manager
of
managers
approach
that
permits
the
Adviser,
subject
to
certain
conditions
and
approval
by
the
Board,
to
enter
into
and
materially
amend
sub-
investment
advisory
agreements
with
one
or
more
sub-advisers
who
are
either
unaffiliated
or
affiliated
with
the
Adviser
without
obtaining
shareholder
approval.
The
Order
also
relieves
each
fund
from
disclosing
the
sub-investment
advisory
fee
paid
by
the
Adviser
to
a
sub-adviser
in
documents
filed
with
the
SEC
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
0.00%
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
0.04%
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
0.04%
BNY
Mellon
International
Equity
ETF
0.04%
BNY
Mellon
Emerging
Markets
Equity
ETF
0.11%
BNY
Mellon
Core
Bond
ETF
0.00%
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
0.06%
BNY
Mellon
High
Yield
Beta
ETF
0.22%
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$
239
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
-
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
-
BNY
Mellon
International
Equity
ETF
-
BNY
Mellon
Emerging
Markets
Equity
ETF
10
BNY
Mellon
Core
Bond
ETF
5,047
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
-
BNY
Mellon
High
Yield
Beta
ETF
-
140
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
and
provided
to
shareholders.
In
addition,
pursuant
to
the
Order,
it
is
not
necessary
to
disclose
the
sub-investment
advisory
fee
payable
by
the
Adviser
separately
to
a
sub-adviser
that
is
a
wholly-
owned
subsidiary
(as
defined
in
the
1940
Act)
of
BNY
Mellon
in
documents
filed
with
the
SEC
and
provided
to
shareholders;
such
fees
are
to
be
aggregated
with
fees
payable
to
the
Adviser.
The
Adviser
has
ultimate
responsibility
(subject
to
oversight
by
the
Board)
to
supervise
any
sub-adviser
and
recommend
the
hiring,
termination,
and
replacement
of
any
sub-adviser
to
the
Board.
For
each
fund,
the
Adviser
pays
a
contractual
fee
rate
to
Mellon
and
INA
applicable
to
each
fund’s
sub-investment
advisory
agreement,
at
the
annual
rate
set
forth
in
the
table
below
(stated
as
a
percentage
of
each
fund’s
average
daily
net
assets).
The
Adviser,
and
not
the
funds,
pays
the
Mellon
and
INA
fee
rate
applicable
to
each
fund’s
sub-investment
advisory
agreement.
Sub-Investment
Advisory
Agreement
Fees
(b)
Each
fund
has
an
arrangement
with
The
Bank
of
New
York
Mellon
(the
“Custodian”),
a
subsidiary
of
BNY
Mellon
and
an
affiliate
of
the
Adviser, whereby
the
funds
will
receive
interest
income
or
be
charged
overdraft
fees
when
cash
balances
are
maintained.
For
financial
reporting
purposes,
the
fund
includes
this
interest
income
and
overdraft
fees,
if
any,
as
interest
income
in
the
Statement
of
Operations.
The
table
below
summarized
the
components
of
“Due
to
BNY
Mellon
ETF
Investment
Adviser,
LLC”
in
the
Statements
of
Assets
and
Liabilities
for
each
fund.
Due
to
BNY
Mellon
ETF
Investment
Adviser,
LLC
(c)
Each
Board
member
serves
as
a
Board
member
of each
fund
within
the
Trust.
The
Board
members
are
not
compensated
directly
by
the
funds.
The
Board
members
are
paid
by
the
Adviser
from
the
unitary
management
fee
paid
to
the
Adviser
by
the
funds.
The
quarterly
fees
are
paid
by
the Trust
from
unitary
management
fees
paid
to
the
Adviser
by
the
funds.
NOTE
4—Securities
Transactions:
The
table
below
summarizes
each
fund’s
aggregate
amount
of
purchases
and
sales
(including
paydowns,
if
any)
of
investment
securities,
excluding
short-term
securities,
futures
and
swap
agreements and
in-kind
transactions,
during
the
period
ended
April
30,
2022.
Purchases
and
Sales
Derivatives:
A
derivative
is
a
financial
instrument
whose
performance
is
derived
from
the
performance
of
another
asset.
Each
type
of
derivative
instrument
that
was
held
by
the
fund
during
the 
period
ended
April
30,
2022
is
discussed
below.
Futures:
In
the
normal
course
of
pursuing
their
investment
objective,
exposed
to
market
risk,
including
equity
price
risk,
as
a
result
of
changes
in
value
of
underlying
financial
instruments.
BNY
Mellon
US
Large
Cap
Core
Equity
ETF,
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF,
BNY
Mellon
US
Small
Cap
Core
Equity
ETF,
BNY
Mellon
International
Equity
ETF
and
BNY
Mellon
Emerging
Markets
Equity ETF
invest
in
futures
in
order
to
manage
their
exposure
to
or
protect
against
changes
in
the
market.
A
futures
contract
represents
a
commitment
for
the
future
purchase
or
a
sale
of
an
asset
at
a
specified
date.
Upon
entering
into
such
contracts,
these
investments
require
initial
margin
deposits
with
a
counterparty,
which
consist
of
cash
or
cash
equivalents.
The
amount
of
these
deposits
is
determined
by
the
exchange
or
Board
of
Trade
on
which
the
contract
is
traded
and
is
subject
to
change.
Accordingly,
variation
margin
payments
are
received
or
made
to
reflect
daily
unrealized
gains
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
0.02%
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
0.02%
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
0.02%
BNY
Mellon
International
Equity
ETF
0.02%
BNY
Mellon
Emerging
Markets
Equity
ETF
0.055%
BNY
Mellon
Core
Bond
ETF
0.03%
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
0.03%
BNY
Mellon
High
Yield
Beta
ETF
0.11%
Management
fees
Less/Excess
Reimbursement
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$
-
$
81
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
3,540
-
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
2,281
-
BNY
Mellon
International
Equity
ETF
3,809
-
BNY
Mellon
Emerging
Markets
Equity
ETF
3,066
-
BNY
Mellon
Core
Bond
ETF
-
1,031
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
2,725
-
BNY
Mellon
High
Yield
Beta
ETF
7,816
-
Purchases
Sales
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$
11,564,303
$
11,912,791
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
12,503,659
13,508,325
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
20,606,456
20,239,995
BNY
Mellon
International
Equity
ETF
8,971,747
9,152,625
BNY
Mellon
Emerging
Markets
Equity
ETF
2,576,116
2,667,292
BNY
Mellon
Core
Bond
ETF
168,916,562
125,410,614
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
11,005,882
10,779,617
BNY
Mellon
High
Yield
Beta
ETF
6,408,610
7,452,847
141
or
losses
which
are
recorded
in
the
Statements
of
Operations.
When
the
contracts
are
closed,
the
fund
recognizes
a
realized
gain
or
loss
which
is
reflected
in
the
Statements
of
Operations.
There
is
minimal
counterparty
credit
risk
to
the
fund
with
futures
since
they
are
exchange
traded,
and
the
exchange
guarantees
the
futures
against
default.
Futures
open
at April
30,
2022,
are
set
forth
in
the
Statement
of
Investments
for
each
fund.
Swap
Agreements:
BNY
Mellon
High
Yield
Beta
ETF enters
into
swap
agreements
to
exchange
the
interest
rate
on,
or
return
generated
by,
one
nominal
instrument
for
the
return
generated
by
another
nominal
instrument.
Swap
agreements
are
privately
negotiated
in
the over-the-counter
(“OTC”) market
or
centrally
cleared.
The
fund
enters
into
these
agreements
to
hedge
certain
market
or
interest
rate
risks,
to
manage
the
interest
rate
sensitivity
(sometimes
called
duration)
of
fixed
income
securities,
to
provide
a
substitute
for
purchasing
or
selling
particular
securities
or
to
increase
potential
returns.
For
OTC
swaps,
the
fund
accrues
for
interim
payments
on
a
daily
basis,
with
the
net
amount
recorded
within
unrealized
appreciation
(depreciation)
on
swap
agreements
in
the
Statement
of
Assets
and
Liabilities. Once
the
interim
payments
are
settled
in
cash,
the
net
amount
is
recorded
as
a
realized
gain
(loss)
on
swaps,
in
addition
to
realized
gain
(loss)
recorded
upon
the
termination
of
swap
agreements
in
the
Statement
of
Operations.
Upfront
payments
made
and/or
received
by
the
fund,
are
recorded
as
an
asset
and/or
liability
in
the
Statement
of
Assets
and
Liabilities
and
are
recorded
as
a
realized
gain
or
loss
ratably
over
the
agreement’s
term/event
with
the
exception
of
forward
starting
interest
rate
swaps
which
are
recorded
as
realized
gains
or
losses
on
the
termination
date.
Upon
entering
into
centrally
cleared
swap
agreements,
an
initial
margin
deposit
is
required
with
a
counterparty,
which
consists
of
cash
or
cash
equivalents.
The
amount
of
these
deposits
is
determined
by
the
exchange
on
which
the
agreement
is
traded
and
is
subject
to
change.
The
change
in
valuation
of
centrally
cleared
swaps
is
recorded
as
a
receivable
or
payable
for
variation
margin
in
the
Statement
of
Assets
and
Liabilities.
Payments
received
from
(paid
to)
the
counterparty,
including
upon
termination,
are
recorded
as
realized
gain
(loss)in
the
Statement
of
Operations.
Fluctuations
in
the
value
of
swap
agreements
are
recorded
for
financial
statement
purposes
as
unrealized
appreciation
or
depreciation
on
swap
agreements.
Credit
Default
Swaps:
Credit
default
swaps
involve
commitments
to
pay
a
fixed
interest
rate
in
exchange
for
payment
if
a
credit
event
affecting
a
third
party
(the
referenced
obligation
or
index)
occurs.
Credit
events
may
include
a
failure
to
pay
interest
or
principal,
bankruptcy,
or
restructuring.
The
fund
enters
into
these
agreements
to
manage
its
exposure
to
the
market
or
certain
sectors
of
the
market,
to
reduce
its
risk
exposure
to
defaults
of
corporate
and
sovereign
issuers,
or
to
create
exposure
to
corporate
or
sovereign
issuers
to
which
it
is
not
otherwise
exposed.
For
those
credit
default
swaps
in
which
the
fund
is
paying
a
fixed
rate,
the
fund
is
buying
credit
protection
on
the
instrument.
In
the
event
of
a
credit
event,
the
fund
would
receive
the
full
notional
amount
for
the
reference
obligation.
For
those
credit
default
swaps
in
which
the
fund
is
receiving
a
fixed
rate,
the
fund
is
selling
credit
protection
on
the
underlying
instrument.
The
maximum
payouts
for
these
agreements
are
limited
to
the
notional
amount
of
each
swap.
Credit
default
swaps
may
involve
greater
risks
than
if
the
fund
had
invested
in
the
reference
obligation
directly
and
are
subject
to
general
market
risk,
liquidity
risk,
counterparty
risk
and
credit
risk.
The
maximum
potential
amount
of
future
payments
(undiscounted)
that
a
fund
as
a
seller
of
protection
could
be
required
to
make
under
a
credit
default
swap
agreement
would
be
an
amount
equal
to
the
notional
amount
of
the
agreement
which
may
exceed
the
amount
of
unrealized
appreciation
or
depreciation
reflected
in
the
Statement
of
Assets
and
Liabilities.
Notional
amounts
of
all
credit
default
swap
agreements
are
disclosed
in
the
Statement
of
Investments
of
the
fund,
which
summarizes
open
credit
default
swaps
entered
into
by
the
fund.
These
potential
amounts
would
be
partially
offset
by
any
recovery
values
of
the
respective
referenced
obligations,
underlying
securities
comprising
the
referenced
index,
upfront
payments
received
upon
entering
into
the
agreement,
or
net
amounts
received
from
the
settlement
of
buy
protection
credit
default
swap
agreements
entered
into
by
the
fund
for
the
same
referenced
entity
or
entities.
Credit
default
swaps
open
at
April
30,
2022
are
set
forth
in
the
Statement
of
Investments
for
the
fund.  
GAAP
requires
disclosure
for
(i)
the
nature
and
terms
of
the
credit
derivative,
reasons
for
entering
into
the
credit
derivative,
the
events
or
circumstances
that
would
require
the
seller
to
perform
under
the
credit
derivative,
and
the
current
status
of
the
payment/performance
risk
of
the
credit
derivative,
(ii)
the
maximum
potential
amount
of
future
payments
(undiscounted)
the
seller
could
be
required
to
make
under
the
credit
derivative,
(iii)
the
fair
value
of
the
credit
derivative,
and
(iv)
the
nature
of
any
recourse
provisions
and
assets
held
either
as
collateral
or
by
third
parties.
All
required
disclosures
have
been
made
and
are
incorporated
within
the
current
period
as
part
of
the
Notes
to
the
Statement
of
Investments
and
disclosures
within
this
Note.
The
following
tables
show
the
funds’
exposure
to
different
types
of
market
risk
as
it
relates
to
the
Statement
of
Assets
and
Liabilities
and
the
Statements
of
Operations,
respectively. 
Fair
value
of
derivative
instruments
as
of April
30,
2022
is
shown
below:
142
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
Statement
of
Assets
and
Liabilities
location:
(a)
Includes
cumulative
appreciation
(depreciation)
on
futures
as
reported
in
the
Statement
of
Investments,
but
only
the
unpaid
variation
margin
is
reported
in
the
Statement
of
Assets
and
Liabilities.
(b)
Includes
cumulative
appreciation
(depreciation)
on
swap
agreements
as
reported
in
the
Statement
of
Investments.
Only
unpaid
variation
margin
on
cleared
swap
agreements
is
reported
in
the
Statements
of
Assets
and
Liabilities.
The
effect
of
derivative
instruments
in
the
Statement
of
Operations
during
the period
ended
April
30,
2022 is
shown
below:
The following
table summarizes
the
average market
value of
derivatives
outstanding
during
the period
ended
April
30,
2022:
The following
table summarizes
the
average
notional
value of
derivatives
outstanding
during
the period ended
April
30,
2022:
Derivative
Assets
($)
Derivative
Liabilities
($)
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Equity
risk
(a)
-
(101,035)
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Equity
risk
(a)
-
(20,335)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Equity
risk
(a)
-
(5,642)
BNY
Mellon
International
Equity
ETF
Equity
risk
(a)
-
(42,780)
BNY
Mellon
Emerging
Markets
Equity
ETF
Equity
risk
(a)
-
(2,019)
BNY
Mellon
High
Yield
Beta
ETF
Credit
risk
(b)
-
(55,145)
Amount
of
realized
gain
(loss)
on
derivatives
($)
Underlying
risk
Futures
Swap
Agreements
Total
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Equity
risk
76,229
-
76,229
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Equity
risk
14,489
-
14,489
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Equity
risk
(54,016)
-
(54,016)
BNY
Mellon
International
Equity
ETF
Equity
risk
(11,501)
-
(11,501)
BNY
Mellon
Emerging
Markets
Equity
ETF
Equity
risk
(19,203)
-
(19,203)
BNY
Mellon
High
Yield
Beta
ETF
Credit
risk
-
9,405
9,405
Net
change
in
unrealized
appreciation
(depreciation)
on
derivatives
($)
Underlying
risk
Futures
Swap
Agreements
Total
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Equity
risk
(119,461)
-
(119,461)
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Equity
risk
(32,287)
-
(32,287)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Equity
risk
(7,157)
-
(7,157)
BNY
Mellon
International
Equity
ETF
Equity
risk
(49,716)
-
(49,716)
BNY
Mellon
Emerging
Markets
Equity
ETF
Equity
risk
(2,812)
-
(2,812)
BNY
Mellon
High
Yield
Beta
ETF
Credit
risk
-
(58,223)
(58,223)
Average
Market
Value
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
Equity
risk
futures
$
789,832
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
Equity
risk
futures
307,064
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
Equity
risk
futures
308,734
BNY
Mellon
International
Equity
ETF
Equity
risk
futures
510,391
BNY
Mellon
Emerging
Markets
Equity
ETF
Equity
risk
futures
90,711
143
The
table
below
summarizes
the
gross
appreciation,
gross
depreciation
and
accumulated
net
unrealized
appreciation
(depreciation)
on
investments
inclusive
of
derivative
contracts
for
each
fund
at
April
30,
2022.
At
April
30,
2022,
the
cost
of
investments
inclusive
of
derivative
contracts
for
federal
income
tax
purposes
was
substantially
the
same
as
the
cost
for
financial
reporting
purposes
(see
the
Statements
of
Investments).
Accumulated
Net
Unrealized
Appreciation
(Depreciation)
NOTE
5—Shareholder
Transactions:
Each
fund
issues
and
redeems
its
shares
on
a
continuous
basis,
at
NAV,
to
certain
institutional
investors
known
as
“Authorized
Participants”
(typically
market
makers
or
other
broker-dealers)
only
in
a
large
specified
number
of
shares
called
a
Creation
Unit.
Except
when
aggregated
in
Creation
Units,
shares
of
each
fund
are
not
redeemable.
The
value
of
each
fund
is
determined
once
each
business
day.
The
Creation
Unit
size
for
a
fund
may
change.
Authorized
Participants
will
be
notified
of
such
change.
Creation
Unit
transactions
may
be
made
in-kind,
for
cash,
or
for
a
combination
of
securities
and
cash.
The
principal
consideration
for
creations
and
redemptions
for
each
fund
is
in-
kind,
although
this
may
be
revised
at
any
time
without
notice.
The
Trust
issues
and
sells
shares
of
each
fund
only:
in
Creation
Units
on
a
continuous
basis
through
the
Distributor,
without
a
sales
load,
at
their
NAV
per
share
determined
after
receipt
of
an
order,
on
any
Business
Day,
in
proper
form
pursuant
to
the
terms
of
the
Authorized
Participant
Agreement.
Transactions
in
capital
shares
for
each
fund
are
disclosed
in
detail
in
the
Statements
of
Changes
in
Net
Assets.
The
consideration
for
the
purchase
of
Creation
Units
of
a
fund
may
consist
of
the
in-kind
deposit
of
a
designated
portfolio
of
securities
and
a
specified
amount
of
cash.
Investors
purchasing
and
redeeming
Creation
Units
may
pay
a
purchase
transaction
fee
and
a
redemption
transaction
fee
directly
to
the
Trust
and/or
custodian
to
offset
transfer
and
other
transaction
costs
associated
with
the
issuance
and
redemption
of
Creation
Units,
including
Creation
Units
for
cash.
An
additional
variable
fee
may
be
charged
for
certain
transactions.
Such
variable
charges,
if
any,
are
included
in
“Transaction
fees”
on
the
Statements
of
Changes
in
Net
Assets.
In-kind
Redemptions:
For
financial
reporting
purposes,
in-
kind
redemptions
are
treated
as
sales
of
securities
resulting
in
realized
capital
gains
or
losses
to
the
funds.
Because
such
gains
or
losses
are
not
taxable
to
the
funds
and
are
not
distributed
to
existing
fund
shareholders,
the
gains
or
losses
are
reclassified
from
accumulated
net
realized
gain
(loss)
to
paid-in
capital
at
the
end
of
the
funds’
tax
year.
These
reclassifications
have
no
effect
on
net
assets
or
net
asset
value
per
share.
The
table
below
summarizes
each
fund’s
in-kind
transactions
associated
with
creations
and
redemptions,
during
the
period
ended
April
30,
2022.
In-Kind
Transactions
Average
Notional
Value
BNY
Mellon
High
Yield
Beta
ETF
Credit
risk
swap
agreements
$
2,307,143
Gross
Appreciation
Gross
(Depreciation)
Net
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$
30,820,215
$(38,870,760)
$(8,050,545)
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
17,163,794
(7,620,956)
9,542,838
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
2,105,217
(14,167,841)
(12,062,624)
BNY
Mellon
International
Equity
ETF
8,236,796
(7,299,246)
937,550
BNY
Mellon
Emerging
Markets
Equity
ETF
7,957,942
(4,111,504)
3,846,438
BNY
Mellon
Core
Bond
ETF
13,384
(27,785,399)
(27,772,015)
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
10,615
(3,258,389)
(3,247,774)
BNY
Mellon
High
Yield
Beta
ETF
325,015
(3,691,363)
(3,366,348)
Cost
of
Securities
Received
Value
of
Securities
Delivered
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$
202,119,603
$
50,178,975
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
14,011,896
15,153,410
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
18,893,504
126,456,250
BNY
Mellon
International
Equity
ETF
24,934,166
-
BNY
Mellon
Emerging
Markets
Equity
ETF
-
-
BNY
Mellon
Core
Bond
ETF
87,275,164
-
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
15,014,721
-
BNY
Mellon
High
Yield
Beta
ETF
13,306,390
12,701,424
144
INFORMATION
ABOUT
THE
REVIEW
AND
RENEWAL
OF
EACH
FUND’S
MANAGEMENT
AND
SUB-INVESTMENT
ADVISORY
AGREEMENTS
(Unaudited)
At
a
meeting
held
February
23,
2022,
the
Board
of
Trustees
of
the
Trust
(the
“Board”),
all
the
members
of
which
are
not
“interested
persons”
of
the
Trust
as
defined
in
the
Investment
Company
Act
of
1940,
as
amended,
evaluated
(i)
proposals
to
continue
the
Management
Agreement
(the
“Agreement”)
between
the
Trust
and
the
BNY
Mellon
ETF
Investment
Adviser,
LLC
(the
“Adviser”)
with
respect
to
the
BNY
Mellon
US
Large
Cap
Core
Equity
ETF,
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF,
BNY
Mellon
US
Small
Cap
Core
Equity
ETF,
BNY
Mellon
International
Equity
ETF,
BNY
Mellon
Emerging
Markets
Equity
ETF,
BNY
Mellon
Core
Bond
ETF,
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
and
BNY
Mellon
High
Yield
Beta
ETF
(each
a
“fund”
and
collectively,
the
“funds”);
(ii)
proposals
to
continue
the
sub-investment
advisory
agreement
between
the
Adviser
and
Mellon
Investments
Corporation
(“Mellon”),
an
affiliate
of
the
Adviser,
on
behalf
of
BNY
Mellon
US
Large
Cap
Core
Equity
ETF,
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF,
BNY
Mellon
US
Small
Cap
Core
Equity
ETF,
BNY
Mellon
International
Equity
ETF,
BNY
Mellon
Emerging
Markets
Equity
ETF,
BNY
Mellon
Core
Bond
ETF,
and
BNY
Mellon
Short
Duration
Corporate
Bond
ETF
and;
(iii)
a
proposal
to
continue
the
sub-investment
advisory
agreement
between
the
Adviser
and
Insight
North
America
LLC
(“INA”),
an
affiliate
of
the
Adviser,
on
behalf
of
BNY
Mellon
High
Yield
Beta
ETF
(each
sub-investment
advisory
agreement
collectively
with
the
Agreement,
the
“Agreements”;
Mellon
and
INA
collectively,
the
“Sub-Advisers”).
The
Trustees
also
met
separately
to
consider
the
Agreements.
The
Trustees
were
advised
by
legal
counsel
throughout
the
process.
To
evaluate
the
Agreements,
the
Board
requested,
and
the
Adviser
and
each
Sub-Adviser
provided,
such
materials
as
the
Board,
with
the
advice
of
counsel,
deemed
reasonably
necessary.
In
addition,
the
Board
considered
information
it
reviewed
at
other
Board
and
Board
committee
meetings.
In
deciding
whether
to
approve
the
Agreements,
the
Board
considered
various
factors,
including
the
(i)
nature,
extent
and
quality
of
services
provided
by
the
Adviser
and
each
Sub-Adviser
under
each
respective
Agreement,
(ii)
investment
performance
of
the
funds,
(iii)
profits
realized
by
the
Adviser
and
its
affiliates
from
its
relationship
with
the
funds,
(iv)
fees
charged
to
comparable
funds,
(v)
other
benefits
to
the
Adviser,
each
Sub-Adviser
and/or
their
affiliates,
and
(vi)
extent
to
which
economies
of
scale
would
be
shared
as
the
funds
grow.
The
Board
considered
the
Agreements
for
each
fund
and
the
engagement
of
the
Adviser
and
each
Sub-Adviser
separately.
Nature,
Extent
and
Quality
of
Services
The
Board
considered
the
nature,
extent
and
quality
of
services
provided
by
the
Adviser
and
each
Sub-Adviser.
In
doing
so,
the
Trustees
relied
on
their
prior
experience
in
overseeing
the
management
of
the
funds
and
the
materials
provided
prior
to
and
at
the
meeting.
The
Board
reviewed
the
Agreements
and
the
Adviser’s
and
each
Sub-Adviser’s
responsibilities
for
managing
investment
operations
of
each
of
the
applicable
funds
in
accordance
with
each
such
fund’s
investment
objectives
and
policies,
and
applicable
legal
and
regulatory
requirements.
The
Board
appreciated
the
nature
of
the
funds
as
exchange-traded
funds
and
considered
the
background
and
experience
of
the
Adviser’s
and
each
Sub-Adviser’s
senior
management,
including
those
individuals
responsible
for
portfolio
management
and
regulatory
compliance
of
the
funds.
The
Board
also
considered
the
portfolio
management
resources,
structures
and
practices
of
the
Adviser
and
each
Sub-Adviser,
including
those
associated
with
monitoring
and
ensuring
each
applicable
fund’s
compliance
with
its
investment
objectives
and
policies
and
with
applicable
laws
and
regulations.
The
Board
further
considered
information
about
each
Sub-Adviser’s
best
execution
procedures
as
well
as
the
Adviser’s
and
each
Sub-Adviser’s
overall
investment
management
business.
The
Board
looked
at
the
Adviser’s
general
knowledge
of
the
investment
management
business
and
that
of
its
affiliates,
including
each
Sub-Adviser.
With
respect
to
the
Sub-Advisers,
the
Board
also
considered
the
Adviser’s
favorable
assessment
of
the
nature
and
quality
of
the
services
provided
by
each
Sub-
Adviser
Investment
Performance
The
Board
then
reviewed
the
funds’
performance,
noting
that
the
distinctive
indexed
investment
objective
of
each
of
the
funds
made
analysis
of
investment
performance,
in
absolute
terms,
less
of
a
priority
than
that
which
normally
attaches
to
the
performance
of
actively-managed
funds.
Instead,
the
Board
focused
on
the
extent
to
which
each
fund
achieved
its
objective
as
a
passively-managed
index
fund.
The
Board
reviewed
information
regarding
the
funds’
index
tracking.
Profits
Realized
by
the
Adviser
The
Board
considered
the
profitability
of
the
advisory
arrangement
with
the
funds
to
the
Adviser
and
its
affiliates.
The
Board
had
the
opportunity
to
discuss
with
representatives
of
the
Adviser
the
process
and
methodology
used
to
calculate
profitability.
Fees
Charged
to
Comparable
Funds
The
Board
evaluated
each
fund’s
unitary
fee
through
review
of
comparative
information
with
respect
to
fees
paid
by
similar
funds
-
i.e.,
exchange-traded
funds
tracking
similar
indices.
The
Board
reviewed
the
universe
of
similar
exchange-traded
funds
for
each
fund
based
upon
data
independently
obtained
from
Broadridge
Financial
Solutions,
Inc.
and
related
comparative
information
for
similar
exchange-traded
funds.
In
doing
so,
the
Board
used
a
fund-by-fund
analysis
of
the
data.
In
certain
instances,
as
considered
appropriate
by
the
Board,
the
Board
explored
with
management
the
differences
between
a
fund’s
fee
and
fees
paid
by
similar
funds.
The
Board
considered
the
fee
paid
to
each
Sub-Adviser
in
relation
to
the
fee
paid
to
the
Adviser
by
each
fund
and
the
respective
services
provided
by
each
Sub-Adviser
and
the
Adviser.
The
Board
also
took
into
consideration
that
each
Sub-Adviser’s
fee
is
paid
by
the
Adviser
and
not
the
funds.
145
Other
Benefits
The
Board
also
considered
whether
the
Adviser,
each
Sub-
Adviser
or
their
affiliates
benefited
in
other
ways
from
their
relationship
with
the
funds,
noting
that
neither
the
Adviser
nor
each
Sub-Adviser
maintains
soft-dollar
arrangements
in
connection
with
the
funds’
brokerage
transactions.
Economies
of
Scale
The
Board
reviewed
information
regarding
economies
of
scale
or
other
efficiencies
that
may
result
as
each
fund’s
assets
grow
in
size.
The
Board
noted
that
the
advisory
fee
rate
for
each
fund
did
not
provide
for
breakpoints
as
assets
of
the
fund
increases.
However,
the
Board
further
noted
the
Adviser’s
assertion
that
future
economies
of
scale
(among
several
factors)
had
been
taken
into
consideration
for
the
funds
by
fixing
relatively
low
advisory
fees,
effectively
sharing
the
benefits
of
lower
fees
with
the
funds
from
inception.
The
Adviser
also
asserted
that
one
of
the
benefits
of
the
unitary
fee
was
to
provide
an
unvarying
expense
structure,
which
could
be
lost
or
diluted
with
the
addition
of
breakpoints.
The
Board
noted
that
it
intends
to
continue
to
monitor
fees
as
the
funds
grow
in
size
and
assess
whether
fee
breakpoints
may
be
warranted.
Conclusion
After
weighing
the
foregoing
factors,
none
of
which
was
dispositive
in
itself
and
may
have
been
weighed
differently
by
each
Trustee,
the
Board
approved
the
continuation
of
the
Agreements
for
each
applicable
fund.
In
approving
the
continuance
of
the
Agreements,
the
Board
found
that
the
terms
of
the
Agreements
are
fair
and
reasonable
and
that
the
continuance
of
the
Agreements
are
in
the
best
interests
of
the
applicable
fund
and
its
shareholders.
The
Board’s
conclusions
with
respect
to
the
factors
were
as
follows:
(a)
the
nature,
extent
and
quality
of
the
services
provided
by
the
Adviser
and
each
Sub-
Adviser
with
respect
to
the
applicable
fund
were
appropriate;
(b)
the
performance
and,
more
importantly,
the
index
tracking,
of
each
fund
had
been
satisfactory;
(c)
the
Adviser’s
unitary
fee
for
each
fund,
considered
in
relation
to
the
services
provided
and
in
relation
to
the
fees
charged
to
comparable
funds,
was
reasonable;
(d)
the
profitability
of
the
funds’
relationships
with
the
Adviser
and
its
affiliates
was
not
excessive
in
view
of
the
nature,
extent
and
quality
of
the
services
provided;
(e)
any
additional
potential
benefits
to
the
Adviser,
Sub-Adviser
or
their
affiliates
were
not
of
a
magnitude
to
materially
affect
the
Board’s
conclusions;
and
(f)
the
fees
paid
to
the
Adviser
adequately
shared
the
economies
of
scale
with
respect
to
the
funds
by
way
of
the
relatively
low
fee
structure
of
the
funds.
For
More
Information
2022
BNY
Mellon
Securities
Corporation
ETFSA0422
Telephone
Call
your
financial
representative
or
1-833-ETF-BNYM
(383-2696)
(inside
the
U.S.
only)
Mail
BNY
Mellon
ETF
Trust,
240
Greenwich
Street,
New
York,
New
York
10286
E-Mail
Send
your
request
to
[email protected]
Internet
Information
can
be
viewed
online
or
downloaded
at
www.im.bnymellon.com
BNY
Mellon
ETF
Trust
discloses,
at
www.im.bnymellon.com
,
the
identities
and
quantities
of
the
securities
held
by
each
fund
daily.
Each
fund
files
its
complete
schedule
of
portfolio
holdings
with
the
Securities
and
Exchange
Commission
(
“
SEC
”
)
for
the
first
and
third
quarters
of
each
fiscal
year
on
Form
N-PORT.
Each
fund
’
s
Forms
N-PORT
are
available
on
the
SEC
’
s
website
at
www.sec.gov
.
Additionally,
each
fund
makes
its
portfolio
holdings
for
the
first
and
third
quarters
of
the
most
recent
fiscal
year
available
at
https://
im.bnymellon.com/etfliterature
.
Each
fund
’
s
complete
schedule
of
portfolio
holdings,
as
filed
on
Form
N-PORT,
can
also
be
obtained
without
charge,
upon
request,
by
calling
1-833-383-2696.
A
description
of
the
policies
and
procedures
that
each
fund
uses
to
determine
how
to
vote
proxies
relating
to
portfolio
securities,
and
information
regarding
how
each
fund
voted
these
proxies
for
the
most
recent
12-month
period
ended
June
30
is
available
at
www.
im.bnymellon.com
and
on
the
SEC’s
website
at
www.sec.gov
.
The
description
of
the
policies
and
procedures
is
also
available
without
charge,
upon
request,
by
calling
1-833-383-2696.
BNY
Mellon
ETF
Trust
Custodian
c/o
BNY
Mellon
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Investment
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240
Greenwich
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New
York,
NY
10286
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