The
funds
are
permitted
to
carry
forward
capital
losses
for
an
unlimited
period.
Furthermore,
capital
loss
carryovers
retain
their
character
as
either
short-term
or
long-term
capital
losses.
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,
2023.
Capital
Loss
Carryover
The
table below
summarizes
each
fund’s
tax
character
of
distributions
paid
to
shareholders
during
the
fiscal
periods
ended October
31,
2023 and
October
31,
2022.
The
tax
character
of
current
year
distributions
will
be
determined
at
the
end
of
the
current
fiscal
year.
Tax
Character
of
Distributions
Paid
During
the
year
ended
October
31,
2023,
as
a
result
of
permanent
book
to
tax
differences,
each
relevant
fund
increased/decreased
total
distributable
earnings
(loss)
and
increased/decreased
paid-
in
capital
as
summarized
in
Table
below.
These
permanent
book
to
tax
differences
are
primarily
due
to
the
tax
treatment
for
in-
kind
transactions,
foreign
currency
transactions reclassification,
paydowns, taxable
spinoffs
and
taxable
overdistributions.
Net
assets
and
net
asset
value
per
share
were
not
affected
by
these
reclassifications.
Return
of
Capital
Statement
of
Position
NOTE
3—Management
Fee,
Sub-Advisory
Fee
and
Other
Transactions
with
Affiliates:
(a)
Pursuant
to
a
management
agreement
with
the
Adviser,
the
management
fee
is
payable
monthly
and 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
and
BNY
Mellon
High
Yield
Beta
ETF,
each
fund’s
management
agreement
provides
that
the
Adviser
pays
substantially
all
expenses
of
such
Short-Term
Losses
Long-Term
Losses
Total
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$
11,461,233
$
6,266,265
$17,727,498
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
6,152,170
4,995,072
11,147,242
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
6,321,163
5,123,505
11,444,668
BNY
Mellon
International
Equity
ETF
6,083,116
2,906,206
8,989,322
BNY
Mellon
Emerging
Markets
Equity
ETF
1,794,704
1,381,233
3,175,937
BNY
Mellon
Core
Bond
ETF
5,647,114
7,080,236
12,727,350
BNY
Mellon
High
Yield
Beta
ETF
1,535,041
943,335
2,478,376
Ordinary
Income
†
2023
Ordinary
Income
†
2022
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$20,945,065
$6,591,566
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
5,046,679
1,602,989
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
1,210,938
1,135,186
BNY
Mellon
International
Equity
ETF
12,099,003
3,935,206
BNY
Mellon
Emerging
Markets
Equity
ETF
2,258,499
1,005,494
BNY
Mellon
Core
Bond
ETF
14,363,073
5,914,515
BNY
Mellon
High
Yield
Beta
ETF
11,992,910
3,578,680
†
Includes
short-term
capital
gain
distributions,
if
any.
Total
Distributable
Earnings
(Loss)
Paid-in
Capital
BNY
Mellon
US
Large
Cap
Core
Equity
ETF
$(57,716,416)
$57,716,416
BNY
Mellon
US
Mid
Cap
Core
Equity
ETF
10,792,112
(10,792,112)
BNY
Mellon
US
Small
Cap
Core
Equity
ETF
1,251,226
(1,251,226)
BNY
Mellon
International
Equity
ETF
94,003
(94
,003)
BNY
Mellon
Core
Bond
ETF
2,503,067
(2,503,067)
BNY
Mellon
High
Yield
Beta
ETF
10,448,959
(10,448,959)
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
High
Yield
Beta
ETF
0.22%