Annual Report | |||||
August 31, 2022 | |||||
American
Century®
Low Volatility ETF (LVOL) | |||||
American
Century®
Quality Convertible Securities ETF (QCON) | |||||
American
Century®
Quality Diversified International ETF (QINT) | |||||
American
Century®
Quality Preferred ETF (QPFF) | |||||
American
Century®
STOXX®
U.S.
Quality Growth ETF (QGRO) | |||||
American
Century®
STOXX®
U.S.
Quality Value ETF (VALQ) |
Table of Contents |
President’s Letter | |||||
Low Volatility ETF | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Quality Convertible Securities ETF | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Quality Diversified International ETF | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Quality Preferred ETF | |||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
STOXX®
U.S. Quality Growth ETF |
|||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
STOXX®
U.S. Quality Value ETF |
|||||
Performance | |||||
Portfolio Commentary | |||||
Fund Characteristics | |||||
Shareholder Fee Examples | |||||
Schedules of Investments | |||||
Statements of Assets and Liabilities | |||||
Statements of Operations | |||||
Statements of Changes in Net Assets | |||||
Notes to Financial Statements | |||||
Financial Highlights | |||||
Report of Independent Registered Public Accounting Firm | |||||
Management | |||||
Approval of Management Agreement | |||||
Liquidity Risk Management Program | |||||
Additional Information |
President’s Letter |
Performance |
Low Volatility ETF (LVOL) | |||||||||||||||||||||||
Total Returns as of August 31, 2022 | Average Annual Returns | ||||||||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||||||||
Net Asset Value | -11.98% | 3.55% | 1/12/2021 | ||||||||||||||||||||
Market Price | -11.99% | 3.55% | 1/12/2021 | ||||||||||||||||||||
S&P 500 Index | -11.23% | 3.99% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made January 12, 2021 |
Value on August 31, 2022 | |||||
Net Asset Value — $10,586 | |||||
S&P 500 Index — $10,659 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.29% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2022 | |||||
Low Volatility ETF | |||||
Types of Investments in Portfolio | % of net assets | ||||
Common Stocks | 99.3% | ||||
Short-Term Investments | 0.6% | ||||
Other Assets and Liabilities | 0.1% | ||||
Top Five Industries | % of net assets | ||||
Insurance | 7.4% | ||||
Health Care Equipment and Supplies | 7.2% | ||||
Commercial Services and Supplies | 5.5% | ||||
Household Products | 5.4% | ||||
Technology Hardware, Storage and Peripherals | 5.1% |
Performance |
Quality Convertible Securities ETF (QCON) | |||||||||||||||||
Total Returns as of August 31, 2022 | Average Annual Returns | ||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||
Net Asset Value | -13.13% | -10.55% | 2/16/2021 | ||||||||||||||
Market Price | -12.85% | -10.49% | 2/16/2021 | ||||||||||||||
ICE BofA Convertible Index | -16.35% | -12.15% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made February 16, 2021 |
Value on August 31, 2022 | |||||
Net Asset Value — $8,424 | |||||
ICE BofA Convertible Index — $8,195 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.32% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2022 | |||||
Quality Convertible Securities ETF | |||||
Types of Investments in Portfolio | % of net assets | ||||
Convertible Bonds | 72.3% | ||||
Convertible Preferred Stocks | 19.4% | ||||
Common Stocks | 5.1% | ||||
Short-Term Investments | 2.9% | ||||
Other Assets and Liabilities | 0.3% | ||||
Top Five Industries | % of net assets | ||||
Software | 15.8% | ||||
Health Care Equipment and Supplies | 7.4% | ||||
Semiconductors and Semiconductor Equipment | 5.7% | ||||
Hotels, Restaurants and Leisure | 4.7% | ||||
IT Services | 4.1% |
Performance |
Quality Diversified International ETF (QINT) | |||||||||||||||||||||||
Total Returns as of August 31, 2022 | Average Annual Returns | ||||||||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||||||||
Net Asset Value | -24.82% | 1.22% | 9/10/2018 | ||||||||||||||||||||
Market Price | -24.80% | 1.23% | 9/10/2018 | ||||||||||||||||||||
Alpha Vee American Century Diversified International Equity Index | -24.05% | 2.04% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made September 10, 2018 |
Value on August 31, 2022 | |||||
Net Asset Value — $10,493 | |||||
Alpha Vee American Century Diversified International Equity Index — $10,837 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.39% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2022 | |||||
Quality Diversified International ETF | |||||
Types of Investments in Portfolio | % of net assets | ||||
Common Stocks | 98.9% | ||||
Short-Term Investments | 1.4% | ||||
Other Assets and Liabilities | (0.3)% | ||||
Top Five Countries | % of net assets | ||||
Japan | 19.8% | ||||
United Kingdom | 11.8% | ||||
France | 11.0% | ||||
Canada | 8.7% | ||||
Australia | 5.6% |
Performance |
Quality Preferred ETF (QPFF) | |||||||||||||||||
Total Returns as of August 31, 2022 | Average Annual Returns | ||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||
Net Asset Value | -8.58% | -1.81% | 2/16/2021 | ||||||||||||||
Market Price | -8.35% | -1.70% | 2/16/2021 | ||||||||||||||
ICE
Exchange-Listed Preferred & Hybrid Securities Index |
-11.34% | -3.51% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made February 16, 2021 |
Value on August 31, 2022 | |||||
Net Asset Value — $9,723 | |||||
ICE Exchange-Listed Preferred & Hybrid Securities Index — $9,465 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.32% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2022 | |||||
Quality Preferred ETF | |||||
Types of Investments in Portfolio | % of net assets | ||||
Preferred Stocks | 83.9% | ||||
Convertible Preferred Stocks | 7.1% | ||||
Corporate Bonds | 2.3% | ||||
Common Stocks | 2.0% | ||||
Short-Term Investments | 4.0% | ||||
Other Assets and Liabilities | 0.7% | ||||
Top Five Industries | % of net assets | ||||
Banks | 26.4% | ||||
Capital Markets | 15.2% | ||||
Insurance | 14.5% | ||||
Multi-Utilities | 7.0% | ||||
Mortgage Real Estate Investment Trusts (REITs) | 5.6% |
Performance |
STOXX®
U.S. Quality Growth ETF (QGRO) |
|||||||||||||||||||||||
Total Returns as of August 31, 2022 | Average Annual Returns | ||||||||||||||||||||||
1 year | Since Inception | Inception Date | |||||||||||||||||||||
Net Asset Value | -19.83% | 11.15% | 9/10/2018 | ||||||||||||||||||||
Market Price | -19.83% | 11.15% | 9/10/2018 | ||||||||||||||||||||
iSTOXX®
American Century USA Quality Growth Index |
-19.68% | 11.53% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made September 10, 2018 |
Value on August 31, 2022 | |||||
Net Asset Value — $15,222 | |||||
iSTOXX®
American Century USA Quality Growth Index — $15,429 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.29% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2022 | |||||
STOXX®
U.S. Quality Growth ETF |
|||||
Types of Investments in Portfolio | % of net assets | ||||
Common Stocks | 99.7% | ||||
Short-Term Investments | 0.3% | ||||
Other Assets and Liabilities |
—* | ||||
*Category is less than 0.05% of total net assets. | |||||
Top Five Industries | % of net assets | ||||
Software | 21.6% | ||||
Semiconductors and Semiconductor Equipment | 10.6% | ||||
Hotels, Restaurants and Leisure | 6.1% | ||||
IT Services | 5.1% | ||||
Biotechnology | 4.8% |
Performance |
STOXX®
U.S. Quality Value ETF (VALQ) |
||||||||||||||||||||
Total Returns as of August 31, 2022 | Average Annual Returns | |||||||||||||||||||
1 year | Since Inception | Inception Date | ||||||||||||||||||
Net Asset Value | -7.70% | 5.49% | 1/11/2018 | |||||||||||||||||
Market Price | -7.69% | 5.50% | 1/11/2018 | |||||||||||||||||
iSTOXX®
American Century USA Quality Value Index |
-7.41% | 5.79% | — |
Growth of $10,000 Over Life of Fund | ||
$10,000 investment made January 11, 2018 |
Value on August 31, 2022 | |||||
Net Asset Value — $12,815 | |||||
iSTOXX®
American Century USA Quality Value Index — $12,985 | |||||
Total Annual Fund Operating Expenses | |||||||||||||||||
0.29% |
Portfolio Commentary |
Fund Characteristics |
AUGUST 31, 2022 | |||||
STOXX®
U.S. Quality Value ETF |
|||||
Types of Investments in Portfolio | % of net assets | ||||
Common Stocks | 99.6% | ||||
Short-Term Investments | 0.5% | ||||
Other Assets and Liabilities | (0.1)% | ||||
Top Five Industries | % of net assets | ||||
Oil, Gas and Consumable Fuels | 6.8% | ||||
Semiconductors and Semiconductor Equipment | 5.6% | ||||
Health Care Providers and Services | 5.4% | ||||
Biotechnology | 5.1% | ||||
Equity Real Estate Investment Trusts (REITs) | 5.0% |
Shareholder Fee Examples |
Beginning Account Value 3/1/22 |
Ending
Account Value 8/31/22 |
Expenses
Paid
During
Period(1)
3/1/22
- 8/31/22 |
Annualized
Expense
Ratio(1) | |||||||||||
Low Volatility ETF | ||||||||||||||
Actual | $1,000 | $925.40 | $1.41 | 0.29% | ||||||||||
Hypothetical | $1,000 | $1,023.74 | $1.48 | 0.29% | ||||||||||
Quality Convertible Securities ETF | ||||||||||||||
Actual | $1,000 | $908.30 | $1.54 | 0.32% | ||||||||||
Hypothetical | $1,000 | $1,023.59 | $1.63 | 0.32% | ||||||||||
Quality Diversified International ETF | ||||||||||||||
Actual | $1,000 | $846.40 | $1.82 | 0.39% | ||||||||||
Hypothetical | $1,000 | $1,023.24 | $1.99 | 0.39% | ||||||||||
Quality Preferred ETF | ||||||||||||||
Actual | $1,000 | $960.50 | $1.58 | 0.32% | ||||||||||
Hypothetical | $1,000 | $1,023.59 | $1.63 | 0.32% | ||||||||||
STOXX®
U.S. Quality Growth ETF |
||||||||||||||
Actual | $1,000 | $902.30 | $1.39 | 0.29% | ||||||||||
Hypothetical | $1,000 | $1,023.74 | $1.48 | 0.29% | ||||||||||
STOXX®
U.S. Quality Value ETF |
||||||||||||||
Actual | $1,000 | $937.00 | $1.42 | 0.29% | ||||||||||
Hypothetical | $1,000 | $1,023.74 | $1.48 | 0.29% |
Schedules of Investments |
Low Volatility ETF | ||||||||
Shares | Value | |||||||
COMMON
STOCKS — 99.3% |
|
| ||||||
Aerospace and Defense — 3.4% | ||||||||
General Dynamics Corp. | 1,090 | $ | 249,534 | |||||
Banks — 2.8% | ||||||||
F.N.B. Corp. | 2,007 | 23,923 | ||||||
JPMorgan Chase & Co. | 187 | 21,268 | ||||||
Truist Financial Corp. | 385 | 18,033 | ||||||
U.S. Bancorp | 3,134 | 142,942 | ||||||
206,166 | ||||||||
Beverages — 5.0% | ||||||||
Coca-Cola Co. | 4,940 | 304,847 | ||||||
PepsiCo, Inc. | 384 | 66,152 | ||||||
370,999 | ||||||||
Biotechnology — 0.4% | ||||||||
Gilead Sciences, Inc. | 443 | 28,117 | ||||||
Capital Markets — 4.7% | ||||||||
FactSet Research Systems, Inc. | 52 | 22,534 | ||||||
Moody's Corp. | 195 | 55,481 | ||||||
MSCI, Inc. | 62 | 27,853 | ||||||
Raymond James Financial, Inc. | 188 | 19,622 | ||||||
S&P Global, Inc. | 57 | 20,074 | ||||||
SEI Investments Co. | 2,860 | 156,442 | ||||||
T. Rowe Price Group, Inc. | 377 | 45,240 | ||||||
347,246 | ||||||||
Chemicals — 4.4% | ||||||||
Dow, Inc. | 619 | 31,569 | ||||||
Linde PLC | 803 | 227,136 | ||||||
LyondellBasell Industries NV, Class A | 614 | 50,962 | ||||||
Sherwin-Williams Co. | 87 | 20,193 | ||||||
329,860 | ||||||||
Commercial Services and Supplies — 5.5% | ||||||||
Cintas Corp. | 201 | 81,775 | ||||||
Copart,
Inc.(1)
|
148 | 17,708 | ||||||
Republic Services, Inc. | 1,052 | 150,141 | ||||||
Waste Management, Inc. | 934 | 157,874 | ||||||
407,498 | ||||||||
Communications Equipment — 3.7% | ||||||||
Cisco Systems, Inc. | 6,106 | 273,060 | ||||||
Diversified Financial Services — 1.8% | ||||||||
Berkshire
Hathaway, Inc., Class B(1)
|
466 | 130,853 | ||||||
Diversified Telecommunication Services — 0.7% | ||||||||
AT&T, Inc. | 1,199 | 21,031 | ||||||
Verizon Communications, Inc. | 809 | 33,824 | ||||||
54,855 | ||||||||
Electronic Equipment, Instruments and Components — 4.4% | ||||||||
Amphenol Corp., Class A | 1,627 | 119,633 | ||||||
Keysight
Technologies, Inc.(1)
|
204 | 33,433 |
Low Volatility ETF | ||||||||
Shares | Value | |||||||
TE Connectivity Ltd. | 1,384 | $ | 174,675 | |||||
327,741 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 2.3% | ||||||||
Mid-America Apartment Communities, Inc. | 665 | 110,170 | ||||||
Public Storage | 128 | 42,346 | ||||||
WP Carey, Inc. | 254 | 21,344 | ||||||
173,860 | ||||||||
Food and Staples Retailing — 1.8% | ||||||||
Costco Wholesale Corp. | 262 | 136,790 | ||||||
Food Products — 1.3% | ||||||||
Mondelez International, Inc., Class A | 1,195 | 73,923 | ||||||
Tyson Foods, Inc., Class A | 264 | 19,900 | ||||||
93,823 | ||||||||
Health Care Equipment and Supplies — 7.2% | ||||||||
Abbott Laboratories | 1,488 | 152,743 | ||||||
Edwards
Lifesciences Corp.(1)
|
146 | 13,155 | ||||||
Intuitive
Surgical, Inc.(1)
|
79 | 16,253 | ||||||
Medtronic PLC | 1,980 | 174,082 | ||||||
Stryker Corp. | 879 | 180,371 | ||||||
536,604 | ||||||||
Hotels, Restaurants and Leisure — 2.8% | ||||||||
McDonald's Corp. | 762 | 192,237 | ||||||
Starbucks Corp. | 197 | 16,562 | ||||||
208,799 | ||||||||
Household Products — 5.4% | ||||||||
Colgate-Palmolive Co. | 1,704 | 133,270 | ||||||
Procter & Gamble Co. | 1,950 | 268,983 | ||||||
402,253 | ||||||||
Industrial Conglomerates — 0.3% | ||||||||
3M Co. | 155 | 19,274 | ||||||
Insurance — 7.4% | ||||||||
Aflac, Inc. | 1,370 | 81,405 | ||||||
Arch
Capital Group Ltd.(1)
|
1,539 | 70,363 | ||||||
Brown & Brown, Inc. | 473 | 29,818 | ||||||
Chubb Ltd. | 208 | 39,322 | ||||||
Everest Re Group Ltd. | 66 | 17,757 | ||||||
Hanover Insurance Group, Inc. | 152 | 19,667 | ||||||
Hartford Financial Services Group, Inc. | 354 | 22,766 | ||||||
Marsh & McLennan Cos., Inc. | 737 | 118,930 | ||||||
Travelers Cos., Inc. | 732 | 118,321 | ||||||
WR Berkley Corp. | 561 | 36,353 | ||||||
554,702 | ||||||||
Interactive Media and Services — 1.0% | ||||||||
Alphabet,
Inc., Class A(1)
|
656 | 70,992 | ||||||
Internet and Direct Marketing Retail — 0.5% | ||||||||
Amazon.com,
Inc.(1)
|
296 | 37,524 | ||||||
IT Services — 4.8% | ||||||||
Accenture PLC, Class A | 372 | 107,307 | ||||||
Amdocs Ltd. | 842 | 71,966 | ||||||
Visa, Inc., Class A | 915 | 181,819 | ||||||
361,092 |
Low Volatility ETF | ||||||||
Shares | Value | |||||||
Life Sciences Tools and Services — 1.2% | ||||||||
Danaher Corp. | 332 | $ | 89,610 | |||||
Machinery — 3.7% | ||||||||
Dover Corp. | 858 | 107,216 | ||||||
IDEX Corp. | 281 | 56,540 | ||||||
Illinois Tool Works, Inc. | 352 | 68,580 | ||||||
Parker-Hannifin Corp. | 66 | 17,490 | ||||||
Snap-on, Inc. | 114 | 24,836 | ||||||
274,662 | ||||||||
Media — 1.1% | ||||||||
Comcast Corp., Class A | 2,362 | 85,481 | ||||||
Multi-Utilities — 1.0% | ||||||||
Brookfield Infrastructure Partners LP | 704 | 29,561 | ||||||
NiSource, Inc. | 1,451 | 42,819 | ||||||
72,380 | ||||||||
Oil, Gas and Consumable Fuels — 3.4% | ||||||||
Devon Energy Corp. | 338 | 23,870 | ||||||
Exxon Mobil Corp. | 2,207 | 210,967 | ||||||
Marathon Petroleum Corp. | 200 | 20,150 | ||||||
254,987 | ||||||||
Pharmaceuticals — 3.0% | ||||||||
Bristol-Myers Squibb Co. | 629 | 42,401 | ||||||
Johnson & Johnson | 854 | 137,785 | ||||||
Zoetis, Inc. | 295 | 46,176 | ||||||
226,362 | ||||||||
Semiconductors and Semiconductor Equipment — 2.5% | ||||||||
Advanced
Micro Devices, Inc.(1)
|
191 | 16,210 | ||||||
Analog Devices, Inc. | 219 | 33,185 | ||||||
Broadcom, Inc. | 173 | 86,346 | ||||||
KLA Corp. | 49 | 16,863 | ||||||
ON
Semiconductor Corp.(1)
|
286 | 19,668 | ||||||
QUALCOMM, Inc. | 129 | 17,063 | ||||||
189,335 | ||||||||
Software — 4.8% | ||||||||
Adobe,
Inc.(1)
|
38 | 14,191 | ||||||
Microsoft Corp. | 895 | 234,016 | ||||||
Roper Technologies, Inc. | 194 | 78,100 | ||||||
Synopsys,
Inc.(1)
|
99 | 34,256 | ||||||
360,563 | ||||||||
Specialty Retail — 1.2% | ||||||||
Home Depot, Inc. | 195 | 56,242 | ||||||
O'Reilly
Automotive, Inc.(1)
|
43 | 29,976 | ||||||
86,218 | ||||||||
Technology Hardware, Storage and Peripherals — 5.1% | ||||||||
Apple, Inc. | 2,427 | 381,573 | ||||||
Textiles, Apparel and Luxury Goods — 0.2% | ||||||||
NIKE, Inc., Class B | 171 | 18,203 | ||||||
Trading Companies and Distributors — 0.5% | ||||||||
Fastenal Co. | 702 | 35,332 | ||||||
TOTAL
COMMON STOCKS
(Cost
$7,465,448) |
7,396,348 |
Low Volatility ETF | ||||||||
Shares | Value | |||||||
SHORT-TERM
INVESTMENTS — 0.6% |
|
| ||||||
Money Market Funds — 0.6% | ||||||||
State
Street Institutional U.S. Government Money Market Fund, Premier Class
(Cost
$45,362) |
45,362 | $ | 45,362 | |||||
TOTAL
INVESTMENT SECURITIES — 99.9%
(Cost
$7,510,810) |
|
7,441,710 | ||||||
OTHER
ASSETS AND LIABILITIES — 0.1% |
|
8,602 | ||||||
TOTAL
NET ASSETS — 100.0% |
|
$ | 7,450,312 |
NOTES TO SCHEDULE OF INVESTMENTS |
Quality Convertible Securities ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
CONVERTIBLE
BONDS — 72.3% |
|
| ||||||
Aerospace and Defense — 0.7% | ||||||||
Parsons Corp., 0.25%, 8/15/25 | $ | 170,000 | $ | 181,815 | ||||
Air Freight and Logistics — 0.7% | ||||||||
Air Transport Services Group, Inc., 1.125%, 10/15/24 | 148,000 | 164,798 | ||||||
Airlines — 1.0% | ||||||||
American Airlines Group, Inc., 6.50%, 7/1/25 | 98,000 | 106,526 | ||||||
Southwest Airlines Co., 1.25%, 5/1/25 | 122,000 | 152,896 | ||||||
259,422 | ||||||||
Automobiles — 1.3% | ||||||||
Ford
Motor Co., 0.00%, 3/15/26(1) |
204,000 | 222,972 | ||||||
Tesla, Inc., 2.00%, 5/15/24 | 7,000 | 93,121 | ||||||
316,093 | ||||||||
Beverages — 1.4% | ||||||||
MGP
Ingredients, Inc., 1.875%, 11/15/41(2) |
271,000 | 348,751 | ||||||
Biotechnology — 3.3% | ||||||||
Ascendis
Pharma A/S, 2.25%, 4/1/28(2) |
96,000 | 87,080 | ||||||
Exact Sciences Corp., 0.375%, 3/1/28 | 102,000 | 70,176 | ||||||
Halozyme Therapeutics, Inc., 0.25%, 3/1/27 | 261,000 | 233,921 | ||||||
Insmed, Inc., 0.75%, 6/1/28 | 94,000 | 93,389 | ||||||
Intercept Pharmaceuticals, Inc., 3.50%, 2/15/26 | 72,000 | 81,630 | ||||||
Neurocrine Biosciences, Inc., 2.25%, 5/15/24 | 71,000 | 98,786 | ||||||
Sarepta Therapeutics, Inc., 1.50%, 11/15/24 | 96,000 | 160,200 | ||||||
825,182 | ||||||||
Communications Equipment — 2.1% | ||||||||
Lumentum Holdings, Inc., 0.50%, 12/15/26 | 208,000 | 219,440 | ||||||
Lumentum
Holdings, Inc., 0.50%, 6/15/28(2) |
188,000 | 168,636 | ||||||
Viavi Solutions, Inc., 1.00%, 3/1/24 | 120,000 | 140,250 | ||||||
528,326 | ||||||||
Electrical Equipment — 1.0% | ||||||||
Plug Power, Inc., 3.75%, 6/1/25 | 20,000 | 111,950 | ||||||
SunPower Corp., 4.00%, 1/15/23 | 117,000 | 133,673 | ||||||
245,623 | ||||||||
Electronic Equipment, Instruments and Components — 2.1% | ||||||||
Insight Enterprises, Inc., 0.75%, 2/15/25 | 256,000 | 356,608 | ||||||
Vishay Intertechnology, Inc., 2.25%, 6/15/25 | 178,000 | 169,611 | ||||||
526,219 | ||||||||
Entertainment — 3.0% | ||||||||
iQIYI, Inc., 2.00%, 4/1/25 | 132,000 | 120,120 | ||||||
Live Nation Entertainment, Inc., 2.50%, 3/15/23 | 68,000 | 93,975 | ||||||
Pandora Media LLC, 1.75%, 12/1/23 | 65,000 | 70,980 | ||||||
Sea Ltd., 0.25%, 9/15/26 | 239,000 | 176,027 | ||||||
World Wrestling Entertainment, Inc., 3.375%, 12/15/23 | 35,000 | 96,740 | ||||||
Zynga, Inc., 0.25%, 6/1/24 | 157,000 | 176,668 | ||||||
734,510 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 0.4% | ||||||||
IIP
Operating Partnership LP, 3.75%, 2/21/24(2) |
17,000 | 24,407 |
Quality Convertible Securities ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Summit Hotel Properties, Inc., 1.50%, 2/15/26 | $ | 83,000 | $ | 74,077 | ||||
98,484 | ||||||||
Health Care Equipment and Supplies — 4.5% | ||||||||
CONMED Corp., 2.625%, 2/1/24 | 132,000 | 152,460 | ||||||
Dexcom, Inc., 0.25%, 11/15/25 | 243,000 | 233,128 | ||||||
Envista Holdings Corp., 2.375%, 6/1/25 | 78,000 | 143,949 | ||||||
Haemonetics
Corp., 0.00%, 3/1/26(1) |
119,000 | 99,777 | ||||||
Insulet Corp., 0.375%, 9/1/26 | 110,000 | 140,635 | ||||||
Integra LifeSciences Holdings Corp., 0.50%, 8/15/25 | 240,000 | 222,405 | ||||||
Mesa Laboratories, Inc., 1.375%, 8/15/25 | 63,000 | 55,861 | ||||||
Omnicell, Inc., 0.25%, 9/15/25 | 60,000 | 71,100 | ||||||
1,119,315 | ||||||||
Health Care Providers and Services — 3.1% | ||||||||
Elevance Health, Inc., 2.75%, 10/15/42 | 86,000 | 592,755 | ||||||
Guardant
Health, Inc., 0.00%, 11/15/27(1) |
215,000 | 160,262 | ||||||
753,017 | ||||||||
Hotels, Restaurants and Leisure — 3.8% | ||||||||
Airbnb,
Inc., 0.00%, 3/15/26(1) |
243,000 | 209,587 | ||||||
Booking Holdings, Inc., 0.75%, 5/1/25 | 352,000 | 458,267 | ||||||
Marriott
Vacations Worldwide Corp., 0.00%, 1/15/26(1) |
97,000 | 99,134 | ||||||
Royal Caribbean Cruises Ltd., 4.25%, 6/15/23 | 172,000 | 169,877 | ||||||
936,865 | ||||||||
Interactive Media and Services — 1.9% | ||||||||
Snap, Inc., 0.75%, 8/1/26 | 79,000 | 72,186 | ||||||
Twitter, Inc., 0.25%, 6/15/24 | 185,000 | 185,093 | ||||||
Ziff
Davis, Inc., 1.75%, 11/1/26(2) |
204,000 | 202,062 | ||||||
459,341 | ||||||||
Internet and Direct Marketing Retail — 2.4% | ||||||||
Etsy, Inc., 0.25%, 6/15/28 | 149,000 | 124,713 | ||||||
Match
Group Financeco 2, Inc., 0.875%, 6/15/26(2) |
150,000 | 145,875 | ||||||
Match
Group Financeco 3, Inc., 2.00%, 1/15/30(2) |
137,000 | 136,700 | ||||||
Pinduoduo,
Inc., 0.00%, 12/1/25(1) |
203,000 | 186,557 | ||||||
593,845 | ||||||||
IT Services — 4.1% | ||||||||
Akamai Technologies, Inc., 0.375%, 9/1/27 | 411,000 | 414,493 | ||||||
Block, Inc., 0.25%, 11/1/27 | 143,000 | 111,124 | ||||||
Cloudflare, Inc., 0.75%, 5/15/25 | 32,000 | 57,540 | ||||||
MongoDB, Inc., 0.25%, 1/15/26 | 53,000 | 87,357 | ||||||
Okta, Inc., 0.375%, 6/15/26 | 100,000 | 84,800 | ||||||
Perficient, Inc., 1.25%, 8/1/25 | 35,000 | 56,943 | ||||||
Perficient,
Inc., 0.125%, 11/15/26(2) |
113,000 | 90,909 | ||||||
Shift4 Payments, Inc., 0.50%, 8/1/27 | 127,000 | 101,282 | ||||||
1,004,448 | ||||||||
Leisure Products — 0.4% | ||||||||
Callaway Golf Co., 2.75%, 5/1/26 | 62,000 | 89,319 | ||||||
Machinery — 2.0% | ||||||||
Chart
Industries, Inc., 1.00%, 11/15/24(2) |
53,000 | 175,600 | ||||||
John Bean Technologies Corp., 0.25%, 5/15/26 | 136,000 | 123,420 | ||||||
Middleby Corp., 1.00%, 9/1/25 | 147,000 | 183,088 | ||||||
482,108 |
Quality Convertible Securities ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Media — 1.8% | ||||||||
Cable One, Inc., 1.125%, 3/15/28 | $ | 92,000 | $ | 74,980 | ||||
Liberty
Broadband Corp., 2.75%, 9/30/50(2) |
130,000 | 126,225 | ||||||
Liberty
Media Corp., 2.75%, 12/1/49(2) |
259,000 | 239,187 | ||||||
440,392 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) — 2.5% | ||||||||
Apollo Commercial Real Estate Finance, Inc., 5.375%, 10/15/23 | 171,000 | 170,038 | ||||||
Arbor Realty Trust, Inc., 4.75%, 11/1/22 | 105,000 | 105,945 | ||||||
Blackstone Mortgage Trust, Inc., 5.50%, 3/15/27 | 184,000 | 170,430 | ||||||
PennyMac Corp., 5.50%, 3/15/26 | 195,000 | 174,623 | ||||||
621,036 | ||||||||
Oil, Gas and Consumable Fuels — 2.9% | ||||||||
EQT Corp., 1.75%, 5/1/26 | 51,000 | 165,138 | ||||||
Green Plains, Inc., 2.25%, 3/15/27 | 50,000 | 68,475 | ||||||
Pioneer Natural Resources Co., 0.25%, 5/15/25 | 197,000 | 484,324 | ||||||
717,937 | ||||||||
Personal Products — 0.4% | ||||||||
Herbalife Nutrition Ltd., 2.625%, 3/15/24 | 98,000 | 90,503 | ||||||
Pharmaceuticals — 2.2% | ||||||||
Jazz Investments I Ltd., 2.00%, 6/15/26 | 339,000 | 402,139 | ||||||
Pacira BioSciences, Inc., 0.75%, 8/1/25 | 71,000 | 70,112 | ||||||
Revance Therapeutics, Inc., 1.75%, 2/15/27 | 91,000 | 82,526 | ||||||
554,777 | ||||||||
Professional Services — 1.6% | ||||||||
FTI Consulting, Inc., 2.00%, 8/15/23 | 99,000 | 158,984 | ||||||
KBR, Inc., 2.50%, 11/1/23 | 117,000 | 226,395 | ||||||
385,379 | ||||||||
Real Estate Management and Development — 0.5% | ||||||||
Zillow Group, Inc., 2.75%, 5/15/25 | 140,000 | 136,500 | ||||||
Semiconductors and Semiconductor Equipment — 3.8% | ||||||||
Enphase
Energy, Inc., 0.00%, 3/1/26(1) |
303,000 | 358,752 | ||||||
Microchip Technology, Inc., 0.125%, 11/15/24 | 130,000 | 136,338 | ||||||
ON
Semiconductor Corp., 0.00%, 5/1/27(1) |
114,000 | 163,818 | ||||||
Silicon Laboratories, Inc., 0.625%, 6/15/25 | 63,000 | 75,739 | ||||||
SMART Global Holdings, Inc., 2.25%, 2/15/26 | 94,000 | 105,468 | ||||||
Wolfspeed,
Inc., 0.25%, 2/15/28(2) |
78,000 | 88,530 | ||||||
928,645 | ||||||||
Software — 15.5% | ||||||||
Alarm.com
Holdings, Inc., 0.00%, 1/15/26(1) |
131,000 | 110,106 | ||||||
Bentley Systems, Inc., 0.125%, 1/15/26 | 291,000 | 265,549 | ||||||
Bill.com
Holdings, Inc., 0.00%, 4/1/27(1)(2) |
150,000 | 128,344 | ||||||
CyberArk
Software Ltd., 0.00%, 11/15/24(1) |
138,000 | 155,626 | ||||||
Datadog, Inc., 0.125%, 6/15/25 | 88,000 | 118,089 | ||||||
Dropbox,
Inc., 0.00%, 3/1/28(1) |
156,000 | 138,645 | ||||||
Envestnet, Inc., 1.75%, 6/1/23 | 68,000 | 69,360 | ||||||
Five9, Inc., 0.50%, 6/1/25 | 90,000 | 91,395 | ||||||
HubSpot, Inc., 0.375%, 6/1/25 | 66,000 | 90,387 | ||||||
InterDigital, Inc., 2.00%, 6/1/24 | 84,000 | 80,535 | ||||||
Mandiant, Inc., 0.875%, 6/1/24 | 387,000 | 435,955 | ||||||
Mitek Systems, Inc., 0.75%, 2/1/26 | 260,000 | 220,534 |
Quality Convertible Securities ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Palo Alto Networks, Inc., 0.375%, 6/1/25 | $ | 290,000 | $ | 551,870 | ||||
Pegasystems, Inc., 0.75%, 3/1/25 | 129,000 | 107,634 | ||||||
Progress Software Corp., 1.00%, 4/15/26 | 241,000 | 244,133 | ||||||
Rapid7, Inc., 0.25%, 3/15/27 | 173,000 | 149,645 | ||||||
Splunk, Inc., 1.125%, 9/15/25 | 169,000 | 161,142 | ||||||
Tyler Technologies, Inc., 0.25%, 3/15/26 | 159,000 | 159,159 | ||||||
Varonis Systems, Inc., 1.25%, 8/15/25 | 174,000 | 196,968 | ||||||
Workday, Inc., 0.25%, 10/1/22 | 86,000 | 96,234 | ||||||
Workiva, Inc., 1.125%, 8/15/26 | 149,000 | 164,049 | ||||||
Zscaler, Inc., 0.125%, 7/1/25 | 65,000 | 81,933 | ||||||
3,817,292 | ||||||||
Specialty Retail — 0.6% | ||||||||
Burlington Stores, Inc., 2.25%, 4/15/25 | 136,000 | 141,610 | ||||||
Technology Hardware, Storage and Peripherals — 1.3% | ||||||||
Pure Storage, Inc., 0.125%, 4/15/23 | 268,000 | 318,920 | ||||||
TOTAL
CONVERTIBLE BONDS
(Cost
$18,996,007) |
17,820,472 | |||||||
CONVERTIBLE
PREFERRED STOCKS — 19.4% |
|
| ||||||
Banks — 2.4% | ||||||||
Bank of America Corp., 7.25% | 237 | 291,294 | ||||||
Wells Fargo & Co., 7.50% | 233 | 290,668 | ||||||
581,962 | ||||||||
Capital Markets — 1.8% | ||||||||
AMG Capital Trust II, 5.15%, 10/15/37 | 2,974 | 149,057 | ||||||
KKR & Co. Inc., 6.00%, 9/15/23 | 4,568 | 286,265 | ||||||
435,322 | ||||||||
Electric Utilities — 2.2% | ||||||||
American Electric Power Co., Inc., 6.125%, 8/15/23 | 4,799 | 263,513 | ||||||
NextEra Energy, Inc., 6.22%, 9/1/23 | 5,125 | 268,678 | ||||||
532,191 | ||||||||
Electronic Equipment, Instruments and Components — 0.5% | ||||||||
II-VI, Inc., 6.00%, 7/1/23 | 580 | 118,094 | ||||||
Equity Real Estate Investment Trusts (REITs) — 0.6% | ||||||||
LXP Industrial Trust, 6.50% | 2,949 | 152,700 | ||||||
Gas Utilities — 0.7% | ||||||||
Spire, Inc., 7.50%, 3/1/24 | 3,300 | 165,396 | ||||||
Health Care Equipment and Supplies — 2.9% | ||||||||
Becton Dickinson & Co., 6.00%, 6/1/23 | 6,960 | 351,480 | ||||||
Boston Scientific Corp., 5.50%, 6/1/23 | 3,436 | 363,278 | ||||||
714,758 | ||||||||
Life Sciences Tools and Services — 1.8% | ||||||||
Danaher Corp., 5.00%, 4/15/23 | 323 | 454,999 | ||||||
Metals and Mining — 0.4% | ||||||||
ArcelorMittal SA, 5.50%, 5/18/23 | 1,687 | 95,585 | ||||||
Multi-Utilities — 1.7% | ||||||||
DTE Energy Co., 6.25%, 11/1/22 | 4,839 | 248,386 | ||||||
NiSource, Inc., 7.75%, 3/1/24 | 1,578 | 178,140 | ||||||
426,526 |
Quality Convertible Securities ETF | ||||||||
Principal
Amount/Shares |
Value | |||||||
Semiconductors and Semiconductor Equipment — 1.9% | ||||||||
Broadcom, Inc., 8.00%, 9/30/22 | 294 | $ | 459,872 | |||||
Wireless Telecommunication Services — 2.5% | ||||||||
2020
Cash Mandatory Exchangeable Trust, 5.25%, 6/1/23(2) |
528 | 630,474 | ||||||
TOTAL
CONVERTIBLE PREFERRED STOCKS
(Cost
$5,009,184) |
4,767,879 | |||||||
COMMON
STOCKS — 5.1% |
|
| ||||||
Biotechnology — 0.2% | ||||||||
PTC
Therapeutics, Inc.(3)
|
975 | 48,691 | ||||||
Communications Equipment — 0.2% | ||||||||
Viavi
Solutions, Inc.(3)
|
3,469 | 48,843 | ||||||
Consumer Finance — 1.0% | ||||||||
Encore
Capital Group, Inc.(3)
|
4,270 | 233,484 | ||||||
Electric Utilities — 1.0% | ||||||||
Southern Co. | 3,287 | 253,329 | ||||||
Electrical Equipment — 0.1% | ||||||||
SunPower
Corp.(3)
|
1,041 | 24,984 | ||||||
Equity Real Estate Investment Trusts (REITs) — 0.4% | ||||||||
Invitation Homes, Inc. | 2,603 | 94,437 | ||||||
Food Products — 1.0% | ||||||||
Bunge Ltd. | 2,370 | 235,033 | ||||||
Hotels, Restaurants and Leisure — 0.9% | ||||||||
Bloomin' Brands, Inc. | 11,335 | 229,194 | ||||||
Software — 0.3% | ||||||||
Alteryx,
Inc., Class A(3)
|
927 | 57,771 | ||||||
Avalara,
Inc.(3)
|
256 | 23,447 | ||||||
81,218 | ||||||||
TOTAL
COMMON STOCKS
(Cost
$1,252,395) |
1,249,213 | |||||||
SHORT-TERM
INVESTMENTS — 2.9% |
|
| ||||||
Money Market Funds — 2.9% | ||||||||
State
Street Institutional U.S. Government Money Market Fund, Premier Class
(Cost
$723,066) |
723,066 | 723,066 | ||||||
TOTAL
INVESTMENT SECURITIES — 99.7%
(Cost
$25,980,652) |
|
24,560,630 | ||||||
OTHER
ASSETS AND LIABILITIES — 0.3% |
|
77,555 | ||||||
TOTAL
NET ASSETS — 100.0% |
|
$ | 24,638,185 |
NOTES TO SCHEDULE OF INVESTMENTS |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
COMMON
STOCKS — 98.9% |
|
| ||||||
Australia — 5.6% | ||||||||
Aristocrat Leisure Ltd. | 13,291 | $ | 320,797 | |||||
ASX Ltd. | 26,763 | 1,424,655 | ||||||
Australia & New Zealand Banking Group Ltd. | 15,377 | 237,706 | ||||||
BlueScope Steel Ltd. | 37,625 | 422,146 | ||||||
Computershare Ltd. | 16,624 | 277,250 | ||||||
CSL Ltd. | 1,098 | 219,619 | ||||||
Fortescue Metals Group Ltd. | 192,924 | 2,397,577 | ||||||
Goodman Group | 14,865 | 197,675 | ||||||
IGO Ltd. | 47,826 | 428,008 | ||||||
Incitec Pivot Ltd. | 132,955 | 351,354 | ||||||
James Hardie Industries PLC | 29,036 | 658,112 | ||||||
Lynas
Rare Earths Ltd.(1)
|
60,801 | 363,229 | ||||||
Macquarie Group Ltd. | 1,605 | 192,043 | ||||||
Medibank Pvt Ltd. | 106,736 | 268,865 | ||||||
REA Group Ltd. | 2,664 | 229,739 | ||||||
Sonic Healthcare Ltd. | 68,399 | 1,581,726 | ||||||
South32 Ltd. | 145,511 | 400,695 | ||||||
WiseTech Global Ltd. | 9,113 | 359,959 | ||||||
Woodside Energy Group Ltd. | 12,924 | 300,205 | ||||||
10,631,360 | ||||||||
Austria — 1.0% | ||||||||
ANDRITZ AG | 5,990 | 275,877 | ||||||
OMV AG | 30,499 | 1,228,874 | ||||||
Verbund AG | 3,353 | 320,405 | ||||||
voestalpine AG | 9,471 | 190,580 | ||||||
2,015,736 | ||||||||
Belgium — 0.6% | ||||||||
D'ieteren Group | 1,435 | 216,328 | ||||||
KBC Group NV | 4,445 | 211,993 | ||||||
Proximus SADP | 16,072 | 204,581 | ||||||
Solvay SA | 2,835 | 228,859 | ||||||
UCB SA | 3,143 | 220,849 | ||||||
1,082,610 | ||||||||
Canada — 8.7% | ||||||||
Alimentation Couche-Tard, Inc. | 4,771 | 205,029 | ||||||
ARC Resources Ltd. | 18,975 | 261,938 | ||||||
Canadian Natural Resources Ltd. | 7,935 | 435,010 | ||||||
Canadian Tire Corp. Ltd., Class A | 13,059 | 1,535,938 | ||||||
CGI,
Inc.(1)
|
3,270 | 258,941 | ||||||
Constellation Software, Inc. | 1,514 | 2,279,064 | ||||||
Dollarama, Inc. | 6,805 | 414,409 | ||||||
Empire Co. Ltd., Class A | 10,059 | 286,525 | ||||||
Fairfax Financial Holdings Ltd. | 482 | 240,290 | ||||||
George Weston Ltd. | 5,054 | 577,803 | ||||||
Gildan
Activewear, Inc.(2)
|
7,221 | 213,548 | ||||||
Great-West
Lifeco, Inc.(2)
|
10,183 | 239,194 | ||||||
Imperial Oil Ltd. | 5,223 | 256,348 | ||||||
Loblaw Cos. Ltd. | 17,234 | 1,523,090 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
Lundin Mining Corp. | 31,370 | $ | 163,138 | |||||
Manulife Financial Corp. | 181,033 | 3,131,739 | ||||||
Metro,
Inc.(2)
|
5,523 | 290,500 | ||||||
Nutrien Ltd. | 2,724 | 250,072 | ||||||
Open
Text Corp.(2)
|
7,369 | 232,121 | ||||||
Pembina Pipeline Corp. | 5,377 | 189,885 | ||||||
Shaw
Communications, Inc., B Shares(2)
|
7,649 | 196,154 | ||||||
Suncor
Energy, Inc.(2)
|
14,610 | 472,668 | ||||||
Teck Resources Ltd., Class B | 6,738 | 228,200 | ||||||
TFI International, Inc. | 2,639 | 263,287 | ||||||
Toromont Industries Ltd. | 3,301 | 255,514 | ||||||
Tourmaline Oil Corp. | 17,213 | 1,017,695 | ||||||
West Fraser Timber Co. Ltd. | 10,077 | 901,548 | ||||||
Wheaton
Precious Metals Corp.(2)
|
5,936 | 181,196 | ||||||
16,500,844 | ||||||||
China — 5.0% | ||||||||
ANTA Sports Products Ltd. | 77,200 | 929,676 | ||||||
BYD Co. Ltd., H Shares | 30,500 | 939,867 | ||||||
China Coal Energy Co. Ltd., H Shares | 602,000 | 535,339 | ||||||
China Shenhua Energy Co. Ltd., H Shares | 495,500 | 1,554,022 | ||||||
COSCO SHIPPING Holdings Co. Ltd., Class H | 623,500 | 930,798 | ||||||
CSPC Pharmaceutical Group Ltd. | 884,000 | 896,751 | ||||||
JD.com, Inc., ADR | 820 | 52,062 | ||||||
Li Ning Co. Ltd. | 70,500 | 642,136 | ||||||
NetEase, Inc., ADR | 10,655 | 943,074 | ||||||
Orient Overseas International Ltd. | 18,000 | 501,749 | ||||||
Want Want China Holdings Ltd. | 1,095,000 | 771,341 | ||||||
Yankuang
Energy Group Co. Ltd., H Shares(2)
|
166,000 | 657,096 | ||||||
Zhongsheng Group Holdings Ltd. | 33,000 | 156,036 | ||||||
9,509,947 | ||||||||
Denmark — 2.2% | ||||||||
AP Moller - Maersk A/S, B Shares | 457 | 1,096,413 | ||||||
Carlsberg A/S, B Shares | 2,176 | 282,554 | ||||||
Danske Bank A/S | 17,344 | 231,593 | ||||||
Novo Nordisk A/S, B Shares | 19,424 | 2,076,693 | ||||||
Novozymes A/S, B Shares | 3,389 | 194,507 | ||||||
Pandora A/S | 6,096 | 366,227 | ||||||
4,247,987 | ||||||||
Finland — 1.9% | ||||||||
Elisa Oyj | 4,169 | 222,951 | ||||||
Fortum Oyj | 15,021 | 154,513 | ||||||
Kesko Oyj, B Shares | 8,626 | 181,471 | ||||||
Nokia Oyj | 188,044 | 947,622 | ||||||
Orion Oyj, Class B | 10,496 | 475,890 | ||||||
Stora Enso Oyj, R Shares | 26,200 | 390,012 | ||||||
Valmet Oyj | 24,965 | 632,797 | ||||||
Wartsila Oyj Abp | 65,527 | 540,286 | ||||||
3,545,542 | ||||||||
France — 11.0% | ||||||||
ArcelorMittal SA | 9,341 | 221,700 | ||||||
AXA SA | 10,990 | 258,832 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
BNP Paribas SA | 4,864 | $ | 226,031 | |||||
Bouygues SA | 43,512 | 1,278,164 | ||||||
Bureau Veritas SA | 7,460 | 185,157 | ||||||
Capgemini SE | 1,430 | 247,072 | ||||||
Carrefour SA | 86,756 | 1,448,000 | ||||||
Cie de Saint-Gobain | 33,797 | 1,361,267 | ||||||
Cie Generale des Etablissements Michelin SCA | 1,652 | 40,179 | ||||||
Eiffage SA | 5,332 | 468,976 | ||||||
Electricite
de France SA(2)
|
31,834 | 380,615 | ||||||
Engie SA | 21,503 | 255,393 | ||||||
Eurofins Scientific SE | 2,308 | 159,686 | ||||||
Hermes International | 1,624 | 2,079,963 | ||||||
Ipsen SA | 5,516 | 528,637 | ||||||
Kering SA | 1,936 | 971,393 | ||||||
Klepierre
SA(1)
|
12,174 | 249,716 | ||||||
L'Oreal SA | 6,711 | 2,304,854 | ||||||
Legrand SA | 2,488 | 180,018 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 1,399 | 902,728 | ||||||
Orange SA | 78,678 | 796,802 | ||||||
Pernod Ricard SA | 1,139 | 208,993 | ||||||
Publicis Groupe SA | 6,363 | 310,675 | ||||||
Remy Cointreau SA | 1,393 | 258,350 | ||||||
Rexel
SA(1)
|
27,395 | 444,948 | ||||||
Sanofi | 33,418 | 2,731,915 | ||||||
Sartorius Stedim Biotech | 2,548 | 931,960 | ||||||
Societe Generale SA | 10,332 | 227,773 | ||||||
STMicroelectronics NV | 6,166 | 214,886 | ||||||
Teleperformance | 828 | 235,820 | ||||||
Thales SA | 2,273 | 274,035 | ||||||
TotalEnergies
SE(2)
|
4,646 | 235,226 | ||||||
Unibail-Rodamco-Westfield(1)
|
3,944 | 202,759 | ||||||
Vivendi SE | 23,277 | 210,993 | ||||||
21,033,516 | ||||||||
Germany — 5.1% | ||||||||
Bayerische Motoren Werke AG | 13,312 | 980,810 | ||||||
Brenntag SE | 2,784 | 182,540 | ||||||
Carl Zeiss Meditec AG | 1,612 | 200,628 | ||||||
Covestro AG | 30,397 | 916,528 | ||||||
CTS
Eventim AG & Co. KGaA(1)
|
3,354 | 180,324 | ||||||
Evonik Industries AG | 108,730 | 2,027,284 | ||||||
GEA Group AG | 41,728 | 1,451,584 | ||||||
Hannover Rueck SE | 1,407 | 207,372 | ||||||
HeidelbergCement AG | 19,136 | 864,133 | ||||||
K+S AG | 9,887 | 225,241 | ||||||
Knorr-Bremse AG | 4,062 | 196,865 | ||||||
Merck KGaA | 1,161 | 199,437 | ||||||
Muenchener Rueckversicherungs-Gesellschaft AG | 1,133 | 270,697 | ||||||
Nemetschek SE | 3,015 | 177,614 | ||||||
Rational AG | 330 | 177,989 | ||||||
Rheinmetall AG | 1,063 | 168,746 | ||||||
RWE AG | 4,889 | 186,649 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
Siemens Healthineers AG | 4,623 | $ | 225,908 | |||||
Symrise AG | 1,949 | 203,932 | ||||||
Uniper SE | 10,748 | 58,156 | ||||||
Volkswagen AG, Preference Shares | 1,668 | 237,255 | ||||||
Wacker Chemie AG | 2,753 | 391,526 | ||||||
9,731,218 | ||||||||
Hong Kong — 0.7% | ||||||||
Chow Tai Fook Jewellery Group Ltd. | 262,400 | 528,134 | ||||||
SITC International Holdings Co. Ltd. | 146,000 | 370,232 | ||||||
Xinyi Glass Holdings Ltd. | 217,000 | 400,775 | ||||||
1,299,141 | ||||||||
Ireland — 0.1% | ||||||||
Bank of Ireland Group PLC | 47,996 | 295,730 | ||||||
Israel — 1.2% | ||||||||
Bank Hapoalim BM | 23,202 | 240,546 | ||||||
Bank Leumi Le-Israel BM | 49,482 | 523,085 | ||||||
ICL Group Ltd. | 96,262 | 919,175 | ||||||
Israel Discount Bank Ltd., A Shares | 46,822 | 286,253 | ||||||
Mizrahi Tefahot Bank Ltd. | 6,538 | 265,905 | ||||||
2,234,964 | ||||||||
Italy — 2.4% | ||||||||
A2A SpA | 165,365 | 185,298 | ||||||
Assicurazioni Generali SpA | 15,242 | 223,551 | ||||||
CNH Industrial NV | 20,180 | 245,693 | ||||||
Eni SpA | 21,705 | 256,400 | ||||||
Ferrari NV | 1,264 | 244,006 | ||||||
Italgas SpA | 33,358 | 171,583 | ||||||
Leonardo SpA | 32,351 | 264,754 | ||||||
Mediobanca Banca di Credito Finanziario SpA | 27,753 | 219,690 | ||||||
Moncler SpA | 4,794 | 213,293 | ||||||
Recordati Industria Chimica e Farmaceutica SpA | 4,808 | 196,166 | ||||||
Stellantis NV | 142,431 | 1,897,256 | ||||||
UniCredit SpA | 41,061 | 401,818 | ||||||
4,519,508 | ||||||||
Japan — 19.8% | ||||||||
Advantest Corp. | 3,100 | 175,570 | ||||||
AGC, Inc. | 7,300 | 247,754 | ||||||
Ajinomoto Co., Inc. | 8,700 | 240,467 | ||||||
Astellas Pharma, Inc. | 30,700 | 435,258 | ||||||
Bandai Namco Holdings, Inc. | 2,800 | 210,102 | ||||||
BayCurrent Consulting, Inc. | 1,300 | 382,031 | ||||||
Brother Industries Ltd. | 44,900 | 859,274 | ||||||
Canon,
Inc.(2)
|
11,000 | 263,442 | ||||||
Capcom Co. Ltd. | 9,500 | 259,300 | ||||||
Chugai Pharmaceutical Co. Ltd. | 7,900 | 203,884 | ||||||
CyberAgent, Inc. | 39,700 | 387,046 | ||||||
Daiichi Sankyo Co. Ltd. | 8,000 | 240,414 | ||||||
Daito Trust Construction Co. Ltd. | 2,400 | 236,106 | ||||||
Dentsu Group, Inc. | 8,200 | 264,081 | ||||||
Eisai Co. Ltd. | 6,700 | 273,180 | ||||||
Fuji Electric Co. Ltd. | 4,500 | 194,410 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
FUJIFILM Holdings Corp. | 5,000 | $ | 253,834 | |||||
Fujitsu Ltd. | 1,800 | 211,812 | ||||||
Hirose Electric Co. Ltd. | 1,500 | 212,546 | ||||||
Hitachi Ltd. | 5,200 | 259,803 | ||||||
Honda Motor Co. Ltd. | 11,200 | 298,169 | ||||||
Hoya Corp. | 2,000 | 203,954 | ||||||
INPEX Corp. | 52,700 | 605,767 | ||||||
ITOCHU Corp. | 9,500 | 261,447 | ||||||
Itochu Techno-Solutions Corp. | 11,100 | 280,132 | ||||||
Japan Tobacco, Inc. | 159,400 | 2,700,780 | ||||||
Kao Corp. | 59,200 | 2,563,376 | ||||||
Kawasaki
Kisen Kaisha Ltd.(2)
|
2,700 | 170,824 | ||||||
KDDI Corp. | 7,000 | 214,208 | ||||||
Keyence Corp. | 4,800 | 1,802,274 | ||||||
Kirin Holdings Co. Ltd. | 45,500 | 749,010 | ||||||
Komatsu Ltd. | 12,600 | 263,576 | ||||||
Konami Group Corp. | 7,100 | 360,323 | ||||||
Kyocera Corp. | 4,800 | 266,802 | ||||||
Marubeni Corp. | 38,600 | 402,300 | ||||||
Mazda Motor Corp. | 32,600 | 288,709 | ||||||
MEIJI Holdings Co. Ltd. | 5,600 | 266,778 | ||||||
MISUMI Group, Inc. | 9,400 | 230,734 | ||||||
Mitsubishi Corp. | 9,400 | 307,762 | ||||||
Mitsubishi Electric Corp. | 25,100 | 253,764 | ||||||
Mitsubishi Heavy Industries Ltd. | 7,200 | 277,564 | ||||||
Mitsui & Co. Ltd. | 22,800 | 535,096 | ||||||
Mitsui
OSK Lines Ltd.(2)
|
10,300 | 268,352 | ||||||
Mizuho Financial Group, Inc. | 23,400 | 267,939 | ||||||
Murata Manufacturing Co. Ltd. | 3,400 | 183,078 | ||||||
NEC Corp. | 20,300 | 740,375 | ||||||
Nintendo Co. Ltd. | 500 | 204,673 | ||||||
NIPPON EXPRESS HOLDINGS, Inc. | 4,700 | 258,607 | ||||||
Nippon Steel Corp. | 18,900 | 298,546 | ||||||
Nippon Telegraph & Telephone Corp. | 22,100 | 599,004 | ||||||
Nippon
Yusen KK(2)
|
5,800 | 442,390 | ||||||
Nissan Chemical Corp. | 5,500 | 277,104 | ||||||
Nissin Foods Holdings Co. Ltd. | 3,200 | 228,948 | ||||||
Nitto Denko Corp. | 3,200 | 197,225 | ||||||
NTT Data Corp. | 17,500 | 246,266 | ||||||
Obayashi Corp. | 38,900 | 269,055 | ||||||
Olympus Corp. | 61,600 | 1,311,910 | ||||||
Ono Pharmaceutical Co. Ltd. | 11,800 | 281,668 | ||||||
Open House Group Co. Ltd. | 10,300 | 403,121 | ||||||
Otsuka Corp. | 8,600 | 277,986 | ||||||
Otsuka Holdings Co. Ltd. | 8,400 | 274,366 | ||||||
Recruit Holdings Co. Ltd. | 15,400 | 489,575 | ||||||
Ricoh Co. Ltd. | 98,500 | 774,156 | ||||||
Rohm Co. Ltd. | 3,300 | 246,899 | ||||||
SCSK Corp. | 68,300 | 1,112,149 | ||||||
Seiko
Epson Corp.(2)
|
56,900 | 894,116 | ||||||
Sekisui Chemical Co. Ltd. | 19,200 | 261,760 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
Sekisui House Ltd. | 80,400 | $ | 1,367,172 | |||||
Shimano, Inc. | 1,200 | 212,291 | ||||||
Shin-Etsu Chemical Co. Ltd. | 1,500 | 174,199 | ||||||
Shinko Electric Industries Co. Ltd. | 5,800 | 161,447 | ||||||
Shionogi & Co. Ltd. | 4,000 | 195,299 | ||||||
SMC Corp. | 400 | 189,772 | ||||||
Sompo Holdings, Inc. | 4,700 | 201,518 | ||||||
SUMCO Corp. | 16,900 | 229,382 | ||||||
Sumitomo Metal Mining Co. Ltd. | 5,000 | 157,333 | ||||||
Sumitomo
Mitsui Financial Group, Inc.(2)
|
9,000 | 271,469 | ||||||
Sumitomo Mitsui Trust Holdings, Inc. | 9,100 | 283,039 | ||||||
Suntory Beverage & Food Ltd. | 13,100 | 478,499 | ||||||
T&D Holdings, Inc. | 24,100 | 263,201 | ||||||
Taisei Corp. | 9,700 | 294,099 | ||||||
TIS, Inc. | 10,500 | 299,006 | ||||||
Tokio Marine Holdings, Inc. | 3,700 | 205,052 | ||||||
Tokyo Electron Ltd. | 2,800 | 878,183 | ||||||
Toppan, Inc. | 14,600 | 229,288 | ||||||
Toray Industries, Inc. | 53,400 | 304,724 | ||||||
Trend Micro, Inc. | 4,700 | 289,370 | ||||||
Yakult Honsha Co. Ltd. | 3,900 | 230,668 | ||||||
Yamaha Motor Co. Ltd. | 10,600 | 219,677 | ||||||
ZOZO, Inc. | 24,600 | 543,739 | ||||||
37,601,358 | ||||||||
Netherlands — 3.8% | ||||||||
Aalberts NV | 9,926 | 363,986 | ||||||
Adyen
NV(1)
|
255 | 393,502 | ||||||
ASM International NV | 1,378 | 374,663 | ||||||
ASML Holding NV | 3,097 | 1,511,693 | ||||||
BE Semiconductor Industries NV | 3,519 | 167,166 | ||||||
Heineken Holding NV | 6,395 | 453,649 | ||||||
Heineken NV | 2,136 | 191,982 | ||||||
IMCD NV | 1,434 | 197,829 | ||||||
ING Groep NV | 24,655 | 216,087 | ||||||
Koninklijke Ahold Delhaize NV | 16,734 | 460,299 | ||||||
Koninklijke Philips NV | 66,659 | 1,107,072 | ||||||
Randstad NV | 26,192 | 1,219,781 | ||||||
Signify NV | 6,948 | 197,503 | ||||||
Wolters Kluwer NV | 3,505 | 342,764 | ||||||
7,197,976 | ||||||||
Norway — 1.8% | ||||||||
Aker BP ASA | 33,503 | 1,173,638 | ||||||
DNB Bank ASA | 13,808 | 262,545 | ||||||
Equinor ASA | 17,165 | 666,184 | ||||||
Mowi
ASA(2)
|
8,326 | 170,697 | ||||||
Norsk Hydro ASA | 34,925 | 239,973 | ||||||
Salmar ASA | 2,927 | 193,555 | ||||||
Telenor ASA | 20,270 | 221,815 | ||||||
TOMRA Systems ASA | 10,663 | 242,974 | ||||||
Yara International ASA | 6,957 | 294,264 | ||||||
3,465,645 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
Portugal — 0.2% | ||||||||
Galp Energia SGPS SA | 21,073 | $ | 227,567 | |||||
Jeronimo Martins SGPS SA | 10,513 | 233,091 | ||||||
460,658 | ||||||||
Singapore — 1.4% | ||||||||
DBS Group Holdings Ltd. | 9,500 | 221,193 | ||||||
Oversea-Chinese Banking Corp. Ltd. | 32,200 | 277,536 | ||||||
Singapore Exchange Ltd. | 248,700 | 1,687,681 | ||||||
Singapore Technologies Engineering Ltd. | 110,300 | 293,922 | ||||||
United Overseas Bank Ltd. | 12,900 | 251,543 | ||||||
2,731,875 | ||||||||
South Korea — 1.0% | ||||||||
Celltrion, Inc. | 1,760 | 247,733 | ||||||
HMM Co. Ltd. | 21,067 | 347,186 | ||||||
KT Corp. | 7,731 | 214,251 | ||||||
LG Innotek Co. Ltd. | 1,774 | 451,586 | ||||||
NCSoft Corp. | 379 | 106,504 | ||||||
SK Hynix, Inc. | 7,797 | 548,191 | ||||||
1,915,451 | ||||||||
Spain — 2.3% | ||||||||
ACS
Actividades de Construccion y Servicios SA(2)
|
11,860 | 264,236 | ||||||
Banco Bilbao Vizcaya Argentaria SA | 97,359 | 436,869 | ||||||
Banco Santander SA | 153,226 | 370,914 | ||||||
Bankinter SA | 67,758 | 347,245 | ||||||
Fluidra SA | 8,136 | 130,133 | ||||||
Repsol SA | 80,708 | 1,048,242 | ||||||
Telefonica SA | 437,954 | 1,807,442 | ||||||
4,405,081 | ||||||||
Sweden — 3.9% | ||||||||
Alleima
AB(1)
|
2,703 | 10,854 | ||||||
Assa Abloy AB, Class B | 8,732 | 176,858 | ||||||
Atlas Copco AB, A Shares | 19,184 | 194,737 | ||||||
Epiroc AB, A Shares | 11,104 | 169,900 | ||||||
Evolution AB | 8,213 | 657,067 | ||||||
Getinge AB, B Shares | 9,549 | 176,862 | ||||||
H
& M Hennes & Mauritz AB, B Shares(2)
|
34,226 | 355,448 | ||||||
Industrivarden AB, A Shares | 22,344 | 495,186 | ||||||
Indutrade AB | 9,518 | 176,235 | ||||||
Lifco AB, B Shares | 10,440 | 162,166 | ||||||
Orron
Energy AB(2)
|
17,799 | 33,854 | ||||||
Sandvik AB | 13,517 | 210,737 | ||||||
Skanska AB, B Shares | 16,055 | 237,175 | ||||||
SKF AB, B Shares | 15,686 | 235,174 | ||||||
SSAB AB, A Shares | 124,633 | 599,453 | ||||||
Svenska Handelsbanken AB, A Shares | 28,145 | 230,512 | ||||||
Swedbank AB, A Shares | 18,320 | 236,784 | ||||||
Swedish Match AB | 83,213 | 835,387 | ||||||
Swedish
Orphan Biovitrum AB(1)
|
13,776 | 304,199 | ||||||
Telefonaktiebolaget LM Ericsson, B Shares | 139,309 | 1,041,812 | ||||||
Trelleborg AB, B Shares | 11,875 | 246,765 | ||||||
Volvo AB, B Shares | 38,983 | 617,502 | ||||||
7,404,667 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
Switzerland — 5.4% | ||||||||
Baloise Holding AG | 1,629 | $ | 235,095 | |||||
Cie Financiere Richemont SA, Class A | 1,938 | 216,723 | ||||||
DKSH Holding AG | 3,321 | 247,091 | ||||||
EMS-Chemie Holding AG | 1,428 | 1,002,794 | ||||||
Geberit AG | 391 | 180,660 | ||||||
Holcim
AG(1)
|
5,596 | 248,046 | ||||||
Kuehne + Nagel International AG | 6,525 | 1,507,999 | ||||||
Novartis AG | 25,740 | 2,082,058 | ||||||
Partners Group Holding AG | 1,601 | 1,545,371 | ||||||
Roche Holding AG | 1,442 | 464,672 | ||||||
Sika AG | 775 | 174,371 | ||||||
Sonova Holding AG | 607 | 159,928 | ||||||
Straumann Holding AG | 4,434 | 485,890 | ||||||
Swatch Group AG, Bearer Shares | 1,077 | 261,167 | ||||||
Swiss Re AG | 9,506 | 739,145 | ||||||
VAT
Group AG(1)
|
2,176 | 520,296 | ||||||
Zurich Insurance Group AG | 469 | 208,189 | ||||||
10,279,495 | ||||||||
Taiwan — 1.5% | ||||||||
Evergreen Marine Corp. Taiwan Ltd. | 114,000 | 326,692 | ||||||
Globalwafers Co. Ltd. | 21,000 | 332,238 | ||||||
MediaTek, Inc. | 33,000 | 714,012 | ||||||
momo.com, Inc. | 8,800 | 208,670 | ||||||
Taiwan Semiconductor Manufacturing Co. Ltd. | 30,000 | 491,093 | ||||||
Unimicron Technology Corp. | 74,000 | 362,580 | ||||||
Wan Hai Lines Ltd. | 16,100 | 45,376 | ||||||
Yang Ming Marine Transport Corp. | 128,000 | 327,907 | ||||||
2,808,568 | ||||||||
United Kingdom — 11.8% | ||||||||
Anglo American PLC | 10,100 | 324,558 | ||||||
Ashtead Group PLC | 19,026 | 934,706 | ||||||
Associated British Foods PLC | 12,785 | 225,796 | ||||||
Auto Trader Group PLC | 31,915 | 240,980 | ||||||
Avast PLC | 45,545 | 373,818 | ||||||
Aviva PLC | 51,426 | 249,480 | ||||||
B&M European Value Retail SA | 56,720 | 243,226 | ||||||
BAE Systems PLC | 62,191 | 560,098 | ||||||
Barratt Developments PLC | 74,135 | 367,027 | ||||||
Berkeley Group Holdings PLC | 5,264 | 222,841 | ||||||
BP PLC | 66,481 | 339,713 | ||||||
Bunzl PLC | 6,200 | 205,618 | ||||||
Burberry Group PLC | 10,017 | 202,631 | ||||||
Coca-Cola
HBC AG(1)
|
37,960 | 866,222 | ||||||
Compass Group PLC | 9,653 | 207,646 | ||||||
DCC PLC | 3,940 | 226,764 | ||||||
Dechra Pharmaceuticals PLC | 5,037 | 203,711 | ||||||
Diageo PLC | 16,508 | 717,213 | ||||||
Evraz
PLC(3) |
199,959 | 23 | ||||||
Experian PLC | 13,451 | 408,177 | ||||||
Ferguson PLC | 1,910 | 221,193 |
Quality Diversified International ETF | ||||||||
Shares | Value | |||||||
Glencore
PLC(1)
|
42,350 | $ | 231,551 | |||||
GSK PLC | 150,616 | 2,407,599 | ||||||
Hargreaves Lansdown PLC | 60,059 | 568,589 | ||||||
HomeServe PLC | 33,751 | 464,631 | ||||||
Howden Joinery Group PLC | 51,681 | 341,708 | ||||||
Imperial Brands PLC | 102,334 | 2,250,513 | ||||||
InterContinental Hotels Group PLC | 3,478 | 188,807 | ||||||
Intertek Group PLC | 3,701 | 169,871 | ||||||
Investec PLC | 98,831 | 475,055 | ||||||
Kingfisher PLC | 336,087 | 902,820 | ||||||
Lloyds Banking Group PLC | 479,873 | 243,178 | ||||||
Mondi PLC | 25,527 | 433,331 | ||||||
NatWest Group PLC | 89,991 | 256,804 | ||||||
Next PLC | 2,647 | 178,254 | ||||||
Pearson PLC | 29,311 | 293,344 | ||||||
Persimmon PLC | 10,156 | 173,780 | ||||||
RELX PLC | 7,581 | 198,813 | ||||||
Rightmove PLC | 72,359 | 508,612 | ||||||
Rio Tinto PLC | 6,850 | 378,191 | ||||||
RS GROUP PLC | 17,708 | 222,760 | ||||||
Sage Group PLC | 33,649 | 278,906 | ||||||
Shell PLC | 16,416 | 434,648 | ||||||
Taylor Wimpey PLC | 681,170 | 854,551 | ||||||
Tesco PLC | 91,055 | 262,991 | ||||||
Unilever PLC | 5,769 | 261,695 | ||||||
Vodafone Group PLC | 1,402,692 | 1,877,997 | ||||||
WPP PLC | 24,013 | 206,825 | ||||||
22,407,265 | ||||||||
United States — 0.5% | ||||||||
Ovintiv, Inc. | 16,591 | 881,754 | ||||||
TOTAL
COMMON STOCKS
(Cost
$210,097,941) |
188,207,896 | |||||||
SHORT-TERM
INVESTMENTS — 1.4% |
|
| ||||||
Money Market Funds — 1.4% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 1,178,830 | 1,178,830 | ||||||
State
Street Navigator Securities Lending Government Money Market
Portfolio(4)
|
1,364,843 | 1,364,843 | ||||||
TOTAL
SHORT-TERM INVESTMENTS
(Cost
$2,543,673) |
2,543,673 | |||||||
TOTAL
INVESTMENT SECURITIES — 100.3%
(Cost
$212,641,614) |
|
190,751,569 | ||||||
OTHER
ASSETS AND LIABILITIES — (0.3)% |
|
(502,194) | ||||||
TOTAL
NET ASSETS — 100.0% |
|
$ | 190,249,375 |
MARKET SECTOR DIVERSIFICATION | |||||
(as a % of net assets) | |||||
Industrials | 16.6% | ||||
Information Technology | 12.1% | ||||
Consumer Discretionary | 12.0% | ||||
Consumer Staples | 12.0% | ||||
Health Care | 11.8% | ||||
Financials | 10.4% | ||||
Materials | 10.2% | ||||
Energy | 6.8% | ||||
Communication Services | 5.7% | ||||
Utilities | 0.9% | ||||
Real Estate | 0.4% | ||||
Short-Term Investments | 1.4% | ||||
Other Assets and Liabilities | (0.3)% |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
ADR | - | American Depositary Receipt |
Quality Preferred ETF | ||||||||
Shares/Principal Amount | Value | |||||||
PREFERRED
STOCKS — 83.9% |
|
| ||||||
Automobiles — 0.4% | ||||||||
Ford Motor Co., 6.00% | 4,200 | $ | 100,044 | |||||
Banks — 25.5% | ||||||||
Bank of America Corp., 3.69% | 4,892 | 90,796 | ||||||
Bank of America Corp., 5.875% | 242,000 | 219,615 | ||||||
Bank of America Corp., 5.875% | 4,331 | 108,405 | ||||||
Bank of America Corp., 6.00% | 8,202 | 205,296 | ||||||
Bank of America Corp., 6.25% | 169,000 | 167,450 | ||||||
Citigroup, Inc., 6.30% | 183,000 | 177,281 | ||||||
Citigroup, Inc., 6.875% | 15,296 | 387,754 | ||||||
Citigroup, Inc., 7.125% | 15,120 | 388,433 | ||||||
Citizens Financial Group, Inc., 6.35% | 8,200 | 203,770 | ||||||
Fifth Third Bancorp, 6.00% | 4,440 | 109,979 | ||||||
First Citizens BancShares, Inc., 5.375% | 2,680 | 59,040 | ||||||
First Republic Bank, 4.00% | 3,480 | 59,682 | ||||||
First Republic Bank, 5.125% | 12,065 | 268,084 | ||||||
JPMorgan Chase & Co., 5.75% | 6,672 | 164,865 | ||||||
JPMorgan Chase & Co., 6.75% | 319,000 | 321,138 | ||||||
JPMorgan Chase & Co., Series EE, 6.00% | 6,598 | 166,599 | ||||||
JPMorgan Chase & Co., Series R, 6.00% | 334,000 | 327,504 | ||||||
KeyCorp, 5.65% | 9,193 | 219,713 | ||||||
Old National Bancorp., 7.00% | 4,154 | 107,173 | ||||||
PNC Financial Services Group, Inc., 6.85% | 10,617 | 267,761 | ||||||
Regions Financial Corp., 5.70% | 3,960 | 91,753 | ||||||
Synovus Financial Corp., 6.30% | 8,200 | 195,980 | ||||||
Truist Financial Corp., 4.00% | 4,243 | 81,890 | ||||||
Truist Financial Corp., 4.80% | 164,000 | 152,757 | ||||||
U.S. Bancorp, 3.50% | 4,400 | 86,504 | ||||||
USB Capital IX, 3.53% | 179,000 | 136,765 | ||||||
Wells Fargo & Co., 5.85% | 19,723 | 473,549 | ||||||
Wells Fargo & Co., 5.90% | 490,000 | 462,193 | ||||||
5,701,729 | ||||||||
Capital Markets — 15.2% | ||||||||
Affiliated Managers Group, Inc., 4.20% | 4,320 | 74,606 | ||||||
Affiliated Managers Group, Inc., 5.875% | 14,803 | 345,206 | ||||||
Goldman Sachs Group, Inc., 4.00% | 5,243 | 100,980 | ||||||
Goldman Sachs Group, Inc., 5.50% | 13,730 | 336,111 | ||||||
Goldman Sachs Group, Inc., 6.375% | 6,360 | 160,526 | ||||||
Morgan Stanley, 6.375% | 5,960 | 151,801 | ||||||
Morgan Stanley, 6.875% | 11,600 | 294,640 | ||||||
Morgan Stanley, 7.125% | 15,440 | 394,801 | ||||||
Oaktree Capital Group LLC, 6.55% | 15,918 | 385,057 | ||||||
Oaktree Capital Group LLC, 6.625% | 15,739 | 380,884 | ||||||
State Street Corp., 5.625% | 392,000 | 365,540 | ||||||
State Street Corp., 5.90% | 13,490 | 333,203 | ||||||
Stifel Financial Corp., 6.25% | 3,457 | 86,079 | ||||||
3,409,434 |
Quality Preferred ETF | ||||||||
Shares/Principal Amount | Value | |||||||
Consumer Finance — 0.6% | ||||||||
Capital One Financial Corp., 4.375% | 7,399 | $ | 130,888 | |||||
Diversified Financial Services — 3.1% | ||||||||
Apollo Asset Management, Inc., 6.375% | 22,720 | 550,960 | ||||||
Equitable Holdings, Inc., 5.25% | 6,900 | 146,073 | ||||||
697,033 | ||||||||
Diversified Telecommunication Services — 1.1% | ||||||||
AT&T, Inc., 5.00% | 4,800 | 101,472 | ||||||
Qwest Corp., 6.75% | 6,280 | 145,382 | ||||||
246,854 | ||||||||
Electric Utilities — 2.8% | ||||||||
Duke Energy Corp., 5.625% | 10,400 | 257,400 | ||||||
NextEra Energy Capital Holdings, Inc., 5.65% | 4,880 | 118,926 | ||||||
SCE Trust VI, 5.00% | 9,337 | 179,737 | ||||||
Southern Co., 4.20% | 3,106 | 59,262 | ||||||
615,325 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 2.0% | ||||||||
Digital Realty Trust, Inc., 5.25% | 3,440 | 80,530 | ||||||
Kimco Realty Corp., 5.25% | 4,201 | 101,118 | ||||||
Public Storage, 5.05% | 4,440 | 107,937 | ||||||
Public Storage, 5.15% | 6,680 | 162,257 | ||||||
451,842 | ||||||||
Food Products — 1.0% | ||||||||
CHS, Inc., 6.75% | 4,200 | 108,066 | ||||||
CHS, Inc., 7.10% | 4,160 | 107,619 | ||||||
215,685 | ||||||||
Industrial Conglomerates — 1.8% | ||||||||
General Electric Co., 5.16% | 426,000 | 404,487 | ||||||
Insurance — 13.6% | ||||||||
Allstate Corp., 5.10% | 4,755 | 105,228 | ||||||
Allstate Corp., 5.10% | 4,631 | 111,561 | ||||||
Allstate Corp., 5.625% | 2,920 | 71,657 | ||||||
American Equity Investment Life Holding Co., 5.95% | 5,104 | 119,025 | ||||||
American Equity Investment Life Holding Co., 6.625% | 2,360 | 58,032 | ||||||
Arch Capital Group Ltd., 5.45% | 4,826 | 109,502 | ||||||
Aspen Insurance Holdings Ltd., 5.625% | 4,832 | 102,245 | ||||||
Athene Holding Ltd., 4.875% | 3,564 | 66,968 | ||||||
Athene Holding Ltd., 5.625% | 8,762 | 192,326 | ||||||
Athene Holding Ltd., 6.35% | 3,493 | 85,404 | ||||||
Athene Holding Ltd., 6.375% | 3,760 | 96,482 | ||||||
Axis Capital Holdings Ltd., 5.50% | 4,925 | 107,759 | ||||||
Brighthouse Financial, Inc., 5.375% | 5,335 | 106,113 | ||||||
Brighthouse Financial, Inc., 6.60% | 7,080 | 175,159 | ||||||
Enstar Group Ltd., 7.00% | 8,332 | 204,800 | ||||||
Hartford Financial Services Group, Inc., 6.00% | 13,485 | 336,586 | ||||||
MetLife, Inc., 4.10% | 2,600 | 53,508 | ||||||
MetLife, Inc., 5.625% | 3,560 | 87,362 | ||||||
Progressive Corp., 5.375% | 179,000 | 166,470 | ||||||
Reinsurance Group of America, Inc., 6.20% | 9,400 | 235,282 | ||||||
RenaissanceRe Holdings Ltd., 5.75% | 14,319 | 329,480 |
Quality Preferred ETF | ||||||||
Shares/Principal Amount | Value | |||||||
W R Berkley Corp., 5.10% | 2,800 | $ | 60,844 | |||||
W R Berkley Corp., 5.70% | 2,760 | 64,336 | ||||||
3,046,129 | ||||||||
Leisure Products — 1.1% | ||||||||
Brunswick Corp., 6.50% | 5,080 | 127,102 | ||||||
Brunswick Corp., 6.625% | 4,441 | 115,910 | ||||||
243,012 | ||||||||
Mortgage Real Estate Investment Trusts (REITs) — 5.6% | ||||||||
AGNC Investment Corp., 6.125% | 9,637 | 206,810 | ||||||
AGNC Investment Corp., 6.50% | 9,080 | 201,848 | ||||||
Annaly Capital Management, Inc., 6.50% | 7,080 | 158,875 | ||||||
Chimera Investment Corp., 7.75% | 4,560 | 93,298 | ||||||
Chimera Investment Corp., 8.00% | 8,160 | 175,277 | ||||||
MFA Financial, Inc., 6.50% | 8,120 | 158,259 | ||||||
Rithm Capital Corp., 6.375% | 13,809 | 269,690 | ||||||
1,264,057 | ||||||||
Multi-Utilities — 4.4% | ||||||||
Algonquin Power & Utilities Corp., 6.20% | 3,541 | 85,905 | ||||||
Algonquin Power & Utilities Corp., 6.875% | 6,920 | 171,477 | ||||||
CMS Energy Corp., 5.875% | 6,240 | 149,760 | ||||||
CMS Energy Corp., 5.875% | 4,360 | 106,646 | ||||||
DTE Energy Co., 4.375% | 4,530 | 86,115 | ||||||
NiSource, Inc., 6.50% | 7,160 | 181,148 | ||||||
Sempra Energy, 4.875% | 213,000 | 206,284 | ||||||
987,335 | ||||||||
Oil, Gas and Consumable Fuels — 2.6% | ||||||||
DCP Midstream LP, 7.875% | 11,308 | 282,135 | ||||||
Enbridge, Inc., 6.375% | 12,056 | 296,095 | ||||||
578,230 | ||||||||
Real Estate Management and Development — 1.1% | ||||||||
Brookfield Property Partners LP, 5.75% | 13,716 | 245,516 | ||||||
Trading Companies and Distributors — 1.3% | ||||||||
Triton International Ltd., 6.875% | 7,337 | 179,023 | ||||||
WESCO International, Inc., 10.625% | 3,640 | 101,265 | ||||||
280,288 | ||||||||
Wireless Telecommunication Services — 0.7% | ||||||||
United States Cellular Corp., 6.25% | 7,336 | 158,824 | ||||||
TOTAL
PREFERRED STOCKS
(Cost
$20,615,887) |
18,776,712 | |||||||
CONVERTIBLE
PREFERRED STOCKS — 7.1% |
|
| ||||||
Banks — 0.9% | ||||||||
Bank of America Corp., 7.25% | 91 | 111,847 | ||||||
Wells Fargo & Co., 7.50% | 80 | 99,800 | ||||||
211,647 | ||||||||
Electric Utilities — 1.1% | ||||||||
American Electric Power Co., Inc., 6.125%, 8/15/23 | 2,513 | 137,989 | ||||||
NextEra Energy, Inc., 6.22%, 9/1/23 | 1,978 | 103,696 | ||||||
241,685 | ||||||||
Health Care Equipment and Supplies — 1.8% | ||||||||
Becton Dickinson & Co., 6.00%, 6/1/23 | 4,448 | 224,624 |
Quality Preferred ETF | ||||||||
Shares/Principal Amount | Value | |||||||
Boston Scientific Corp., 5.50%, 6/1/23 | 1,680 | $ | 177,621 | |||||
402,245 | ||||||||
Independent Power and Renewable Electricity Producers — 0.6% | ||||||||
AES Corp., 6.875%, 2/15/24 | 1,342 | 130,550 | ||||||
Life Sciences Tools and Services — 0.7% | ||||||||
Danaher Corp., 5.00%, 4/15/23 | 111 | 156,362 | ||||||
Multi-Utilities — 1.6% | ||||||||
DTE Energy Co., 6.25%, 11/1/22 | 3,910 | 200,700 | ||||||
NiSource, Inc., 7.75%, 3/1/24 | 1,315 | 148,451 | ||||||
349,151 | ||||||||
Thrifts and Mortgage Finance — 0.4% | ||||||||
New York Community Capital Trust V, 6.00%, 11/1/51 | 1,900 | 86,673 | ||||||
TOTAL
CONVERTIBLE PREFERRED STOCKS
(Cost
$1,652,548) |
1,578,313 | |||||||
CORPORATE
BONDS — 2.3% |
|
| ||||||
Insurance — 0.9% | ||||||||
Allstate Corp., VRN, 5.75%, 8/15/53 | $ | 231,000 | 212,231 | |||||
Oil, Gas and Consumable Fuels — 1.4% | ||||||||
Enbridge, Inc., VRN, 5.50%, 7/15/77 | 91,000 | 83,322 | ||||||
Transcanada Trust, VRN, 5.30%, 3/15/77 | 248,000 | 230,022 | ||||||
313,344 | ||||||||
TOTAL
CORPORATE BONDS
(Cost
$556,878) |
525,575 | |||||||
COMMON
STOCKS — 2.0% |
|
| ||||||
Electric Utilities — 1.0% | ||||||||
Southern Co. | 2,786 | 214,717 | ||||||
Multi-Utilities — 1.0% | ||||||||
Dominion Energy, Inc. | 2,853 | 233,376 | ||||||
TOTAL
COMMON STOCKS
(Cost
$454,162) |
448,093 | |||||||
SHORT-TERM
INVESTMENTS — 4.0% |
|
| ||||||
Money Market Funds — 4.0% | ||||||||
State
Street Institutional U.S. Government Money Market Fund, Premier Class
(Cost
$904,709) |
904,709 | 904,709 | ||||||
TOTAL
INVESTMENT SECURITIES — 99.3%
(Cost
$24,184,184) |
|
22,233,402 | ||||||
OTHER
ASSETS AND LIABILITIES — 0.7% |
|
160,404 | ||||||
TOTAL
NET ASSETS — 100.0% |
|
$ | 22,393,806 |
NOTES TO SCHEDULE OF INVESTMENTS | ||||||||
VRN | - | Variable Rate Note. The rate adjusts periodically based upon the terms set forth in the security’s offering documents. The rate shown is effective at the period end and the reference rate and spread, if any, is indicated. The security's effective maturity date may be shorter than the final maturity date shown. |
STOXX®
U.S. Quality Growth ETF |
||||||||
Shares | Value | |||||||
COMMON
STOCKS — 99.7% |
|
| ||||||
Aerospace and Defense — 0.2% | ||||||||
Howmet Aerospace, Inc. | 11,849 | $ | 419,810 | |||||
Air Freight and Logistics — 1.3% | ||||||||
Expeditors International of Washington, Inc. | 2,235 | 229,959 | ||||||
United Parcel Service, Inc., Class B | 16,462 | 3,202,024 | ||||||
3,431,983 | ||||||||
Auto Components — 0.2% | ||||||||
Autoliv, Inc. | 5,481 | 426,367 | ||||||
Automobiles — 1.7% | ||||||||
Tesla,
Inc.(1)
|
15,934 | 4,391,570 | ||||||
Beverages — 0.5% | ||||||||
Brown-Forman Corp., Class B | 5,772 | 419,625 | ||||||
Constellation Brands, Inc., Class A | 1,737 | 427,389 | ||||||
Monster
Beverage Corp.(1)
|
4,910 | 436,155 | ||||||
1,283,169 | ||||||||
Biotechnology — 4.8% | ||||||||
AbbVie, Inc. | 1,730 | 232,616 | ||||||
Exelixis,
Inc.(1)
|
75,060 | 1,331,565 | ||||||
Incyte
Corp.(1)
|
3,317 | 233,616 | ||||||
Neurocrine
Biosciences, Inc.(1)
|
34,337 | 3,592,680 | ||||||
Regeneron
Pharmaceuticals, Inc.(1)
|
5,589 | 3,247,544 | ||||||
Vertex
Pharmaceuticals, Inc.(1)
|
13,125 | 3,698,100 | ||||||
12,336,121 | ||||||||
Building Products — 0.8% | ||||||||
Masco Corp. | 36,187 | 1,840,833 | ||||||
Owens Corning | 2,689 | 219,772 | ||||||
2,060,605 | ||||||||
Capital Markets — 3.9% | ||||||||
Ameriprise Financial, Inc. | 2,428 | 650,728 | ||||||
Blackstone, Inc. | 6,532 | 613,616 | ||||||
FactSet Research Systems, Inc. | 5,251 | 2,275,468 | ||||||
LPL Financial Holdings, Inc. | 3,014 | 667,089 | ||||||
MarketAxess Holdings, Inc. | 2,690 | 668,707 | ||||||
Moody's Corp. | 788 | 224,202 | ||||||
MSCI, Inc. | 9,916 | 4,454,664 | ||||||
Raymond James Financial, Inc. | 2,217 | 231,388 | ||||||
Tradeweb Markets, Inc., Class A | 6,171 | 429,440 | ||||||
10,215,302 | ||||||||
Chemicals — 1.2% | ||||||||
Air Products and Chemicals, Inc. | 1,679 | 423,864 | ||||||
CF Industries Holdings, Inc. | 12,320 | 1,274,627 | ||||||
Chemours Co. | 20,576 | 694,028 | ||||||
Corteva, Inc. | 7,079 | 434,863 | ||||||
Mosaic Co. | 3,892 | 209,662 | ||||||
3,037,044 | ||||||||
Commercial Services and Supplies — 1.5% | ||||||||
Cintas Corp. | 1,033 | 420,266 | ||||||
Republic Services, Inc. | 3,034 | 433,012 | ||||||
Waste Management, Inc. | 18,716 | 3,163,566 | ||||||
4,016,844 |
STOXX®
U.S. Quality Growth ETF |
||||||||
Shares | Value | |||||||
Communications Equipment — 1.4% | ||||||||
Arista
Networks, Inc.(1)
|
30,219 | $ | 3,622,654 | |||||
Construction and Engineering — 0.2% | ||||||||
WillScot
Mobile Mini Holdings Corp.(1)
|
10,518 | 422,192 | ||||||
Construction Materials — 0.1% | ||||||||
Eagle Materials, Inc. | 1,881 | 225,005 | ||||||
Diversified Consumer Services — 0.3% | ||||||||
H&R Block, Inc. | 20,589 | 926,505 | ||||||
Electrical Equipment — 0.1% | ||||||||
Generac
Holdings, Inc.(1)
|
1,795 | 395,636 | ||||||
Electronic Equipment, Instruments and Components — 0.5% | ||||||||
CDW Corp. | 3,665 | 625,616 | ||||||
Keysight
Technologies, Inc.(1)
|
3,990 | 653,921 | ||||||
1,279,537 | ||||||||
Equity Real Estate Investment Trusts (REITs) — 1.4% | ||||||||
Camden Property Trust | 3,239 | 416,244 | ||||||
Equinix, Inc. | 649 | 426,633 | ||||||
Gaming and Leisure Properties, Inc. | 8,684 | 419,177 | ||||||
National Retail Properties, Inc. | 9,634 | 432,567 | ||||||
SBA Communications Corp. | 3,685 | 1,198,546 | ||||||
Weyerhaeuser Co. | 20,235 | 691,227 | ||||||
3,584,394 | ||||||||
Food and Staples Retailing — 2.3% | ||||||||
Casey's General Stores, Inc. | 1,102 | 235,575 | ||||||
Costco Wholesale Corp. | 9,754 | 5,092,563 | ||||||
Sysco Corp. | 7,972 | 655,458 | ||||||
5,983,596 | ||||||||
Food Products — 1.3% | ||||||||
Archer-Daniels-Midland Co. | 7,576 | 665,855 | ||||||
Hershey Co. | 2,951 | 663,001 | ||||||
Lamb Weston Holdings, Inc. | 25,050 | 1,992,226 | ||||||
3,321,082 | ||||||||
Gas Utilities — 0.1% | ||||||||
National Fuel Gas Co. | 3,248 | 231,485 | ||||||
Health Care Equipment and Supplies — 2.2% | ||||||||
ABIOMED,
Inc.(1)
|
1,631 | 422,886 | ||||||
DexCom,
Inc.(1)
|
40,527 | 3,331,724 | ||||||
Edwards
Lifesciences Corp.(1)
|
7,126 | 642,052 | ||||||
Hologic,
Inc.(1)
|
3,387 | 228,826 | ||||||
IDEXX
Laboratories, Inc.(1)
|
1,855 | 644,835 | ||||||
ResMed, Inc. | 1,953 | 429,504 | ||||||
5,699,827 | ||||||||
Health Care Providers and Services — 0.7% | ||||||||
AmerisourceBergen Corp. | 1,603 | 234,936 | ||||||
Chemed Corp. | 500 | 238,095 | ||||||
HCA Healthcare, Inc. | 1,129 | 223,395 | ||||||
Humana, Inc. | 904 | 435,529 | ||||||
Molina
Healthcare, Inc.(1)
|
736 | 248,304 | ||||||
UnitedHealth Group, Inc. | 827 | 429,486 | ||||||
1,809,745 |
STOXX®
U.S. Quality Growth ETF |
||||||||
Shares | Value | |||||||
Health Care Technology — 0.9% | ||||||||
Veeva
Systems, Inc., Class A(1)
|
12,314 | $ | 2,454,426 | |||||
Hotels, Restaurants and Leisure — 6.1% | ||||||||
Chipotle
Mexican Grill, Inc.(1)
|
2,836 | 4,528,525 | ||||||
Choice Hotels International, Inc. | 1,992 | 228,502 | ||||||
Churchill Downs, Inc. | 2,099 | 413,692 | ||||||
Marriott International, Inc., Class A | 42,338 | 6,509,044 | ||||||
Texas Roadhouse, Inc. | 14,861 | 1,319,063 | ||||||
Vail Resorts, Inc. | 12,278 | 2,758,621 | ||||||
15,757,447 | ||||||||
Household Durables — 0.1% | ||||||||
Tempur Sealy International, Inc. | 8,895 | 222,464 | ||||||
Household Products — 0.2% | ||||||||
Colgate-Palmolive Co. | 2,979 | 232,988 | ||||||
Kimberly-Clark Corp. | 1,814 | 231,321 | ||||||
464,309 | ||||||||
Insurance — 0.7% | ||||||||
Arthur J. Gallagher & Co. | 2,343 | 425,418 | ||||||
Kinsale Capital Group, Inc. | 1,663 | 421,704 | ||||||
Progressive Corp. | 3,541 | 434,304 | ||||||
WR Berkley Corp. | 6,634 | 429,883 | ||||||
1,711,309 | ||||||||
Interactive Media and Services — 2.7% | ||||||||
Alphabet,
Inc., Class C(1)
|
24,576 | 2,682,470 | ||||||
Meta
Platforms, Inc., Class A(1)
|
14,282 | 2,326,966 | ||||||
ZoomInfo
Technologies, Inc.(1)
|
42,478 | 1,929,351 | ||||||
6,938,787 | ||||||||
Internet and Direct Marketing Retail — 1.2% | ||||||||
Etsy,
Inc.(1)
|
4,133 | 436,486 | ||||||
MercadoLibre,
Inc.(1)
|
3,184 | 2,723,466 | ||||||
3,159,952 | ||||||||
IT Services — 5.1% | ||||||||
Accenture PLC, Class A | 1,445 | 416,825 | ||||||
Automatic Data Processing, Inc. | 1,734 | 423,807 | ||||||
Cognizant Technology Solutions Corp., Class A | 3,596 | 227,159 | ||||||
EPAM
Systems, Inc.(1)
|
4,554 | 1,942,281 | ||||||
Gartner,
Inc.(1)
|
9,370 | 2,673,449 | ||||||
Globant
SA(1)
|
1,960 | 413,109 | ||||||
GoDaddy,
Inc., Class A(1)
|
8,538 | 647,351 | ||||||
Mastercard, Inc., Class A | 18,883 | 6,125,079 | ||||||
Visa, Inc., Class A | 2,134 | 424,047 | ||||||
13,293,107 | ||||||||
Life Sciences Tools and Services — 3.2% | ||||||||
Agilent Technologies, Inc. | 3,292 | 422,199 | ||||||
Bio-Techne Corp. | 1,249 | 414,431 | ||||||
Bruker Corp. | 7,358 | 412,048 | ||||||
IQVIA
Holdings, Inc.(1)
|
1,907 | 405,543 | ||||||
Mettler-Toledo
International, Inc.(1)
|
520 | 630,479 | ||||||
Repligen
Corp.(1)
|
7,535 | 1,652,953 | ||||||
West Pharmaceutical Services, Inc. | 14,992 | 4,447,976 | ||||||
8,385,629 |
STOXX®
U.S. Quality Growth ETF |
||||||||
Shares | Value | |||||||
Machinery — 0.4% | ||||||||
Chart
Industries, Inc.(1)
|
4,404 | $ | 853,760 | |||||
Lincoln Electric Holdings, Inc. | 1,654 | 226,085 | ||||||
1,079,845 | ||||||||
Media — 0.1% | ||||||||
Nexstar Media Group, Inc., Class A | 1,237 | 236,663 | ||||||
Metals and Mining — 0.1% | ||||||||
Nucor Corp. | 2,554 | 339,529 | ||||||
Oil, Gas and Consumable Fuels — 3.4% | ||||||||
Chesapeake Energy Corp. | 9,289 | 933,452 | ||||||
ConocoPhillips | 6,145 | 672,570 | ||||||
Coterra Energy, Inc. | 7,711 | 238,347 | ||||||
Devon Energy Corp. | 32,231 | 2,276,153 | ||||||
Diamondback Energy, Inc. | 1,769 | 235,772 | ||||||
HF Sinclair Corp. | 12,479 | 656,770 | ||||||
Marathon Oil Corp. | 9,141 | 233,918 | ||||||
Marathon Petroleum Corp. | 6,470 | 651,853 | ||||||
Matador Resources Co. | 3,843 | 229,043 | ||||||
Occidental Petroleum Corp. | 9,247 | 656,537 | ||||||
Pioneer Natural Resources Co. | 2,650 | 671,033 | ||||||
SM Energy Co. | 10,422 | 459,298 | ||||||
Texas Pacific Land Corp. | 385 | 708,577 | ||||||
Valero Energy Corp. | 1,954 | 228,852 | ||||||
8,852,175 | ||||||||
Personal Products — 0.1% | ||||||||
Estee Lauder Cos., Inc., Class A | 1,614 | 410,569 | ||||||
Pharmaceuticals — 2.4% | ||||||||
Eli Lilly & Co. | 1,385 | 417,204 | ||||||
Merck & Co., Inc. | 37,385 | 3,191,184 | ||||||
Pfizer, Inc. | 46,389 | 2,098,174 | ||||||
Zoetis, Inc. | 2,704 | 423,257 | ||||||
6,129,819 | ||||||||
Professional Services — 0.5% | ||||||||
Robert Half International, Inc. | 17,891 | 1,377,070 | ||||||
Real Estate Management and Development — 0.1% | ||||||||
CBRE
Group, Inc., Class A(1)
|
2,888 | 228,036 | ||||||
Road and Rail — 3.7% | ||||||||
J.B. Hunt Transport Services, Inc. | 18,913 | 3,291,240 | ||||||
Landstar System, Inc. | 1,558 | 228,450 | ||||||
Old Dominion Freight Line, Inc. | 18,310 | 4,969,517 | ||||||
Saia,
Inc.(1)
|
3,995 | 826,286 | ||||||
XPO
Logistics, Inc.(1)
|
4,233 | 221,894 | ||||||
9,537,387 | ||||||||
Semiconductors and Semiconductor Equipment — 10.6% | ||||||||
Advanced
Micro Devices, Inc.(1)
|
36,853 | 3,127,714 | ||||||
Applied Materials, Inc. | 22,957 | 2,159,565 | ||||||
Enphase
Energy, Inc.(1)
|
9,763 | 2,796,514 | ||||||
KLA Corp. | 6,399 | 2,202,088 | ||||||
Lam Research Corp. | 504 | 220,707 | ||||||
Lattice
Semiconductor Corp.(1)
|
22,588 | 1,217,493 | ||||||
Microchip Technology, Inc. | 3,415 | 222,829 |
STOXX®
U.S. Quality Growth ETF |
||||||||
Shares | Value | |||||||
Micron Technology, Inc. | 3,939 | $ | 222,672 | |||||
Monolithic Power Systems, Inc. | 8,033 | 3,640,395 | ||||||
NVIDIA Corp. | 38,448 | 5,803,341 | ||||||
ON
Semiconductor Corp.(1)
|
24,690 | 1,697,931 | ||||||
Power Integrations, Inc. | 6,009 | 429,824 | ||||||
QUALCOMM, Inc. | 16,482 | 2,180,074 | ||||||
SolarEdge
Technologies, Inc.(1)
|
1,488 | 410,643 | ||||||
Teradyne, Inc. | 2,502 | 211,769 | ||||||
Texas Instruments, Inc. | 1,360 | 224,685 | ||||||
Universal Display Corp. | 5,771 | 644,794 | ||||||
27,413,038 | ||||||||
Software — 21.6% | ||||||||
Adobe,
Inc.(1)
|
8,270 | 3,088,349 | ||||||
Aspen
Technology, Inc.(1)
|
3,179 | 669,497 | ||||||
Atlassian
Corp. PLC, Class A(1)
|
1,681 | 416,317 | ||||||
Autodesk,
Inc.(1)
|
25,027 | 5,048,947 | ||||||
Cadence
Design Systems, Inc.(1)
|
37,268 | 6,476,060 | ||||||
Crowdstrike
Holdings, Inc., Class A(1)
|
13,236 | 2,417,026 | ||||||
Datadog,
Inc., Class A(1)
|
24,334 | 2,553,853 | ||||||
Fair
Isaac Corp.(1)
|
1,418 | 637,249 | ||||||
Five9,
Inc.(1)
|
4,284 | 420,303 | ||||||
Fortinet,
Inc.(1)
|
81,233 | 3,955,235 | ||||||
HubSpot,
Inc.(1)
|
5,087 | 1,714,523 | ||||||
Intuit, Inc. | 10,127 | 4,372,636 | ||||||
Microsoft Corp. | 13,708 | 3,584,231 | ||||||
Palantir
Technologies, Inc., Class A(1)
|
212,668 | 1,641,797 | ||||||
Palo
Alto Networks, Inc.(1)
|
6,222 | 3,464,472 | ||||||
Paycom
Software, Inc.(1)
|
7,179 | 2,521,265 | ||||||
Paylocity
Holding Corp.(1)
|
1,792 | 431,872 | ||||||
PTC,
Inc.(1)
|
5,772 | 663,145 | ||||||
Salesforce,
Inc.(1)
|
2,574 | 401,853 | ||||||
ServiceNow,
Inc.(1)
|
8,202 | 3,564,753 | ||||||
Synopsys,
Inc.(1)
|
13,407 | 4,639,090 | ||||||
Trade
Desk, Inc., Class A(1)
|
40,556 | 2,542,861 | ||||||
Workday,
Inc., Class A(1)
|
2,757 | 453,692 | ||||||
Zoom
Video Communications, Inc., Class A(1)
|
2,812 | 226,085 | ||||||
55,905,111 | ||||||||
Specialty Retail — 2.3% | ||||||||
AutoNation,
Inc.(1)
|
3,733 | 465,132 | ||||||
Dick's Sporting Goods, Inc. | 4,374 | 465,262 | ||||||
Floor
& Decor Holdings, Inc., Class A(1)
|
5,016 | 408,102 | ||||||
Lowe's Cos., Inc. | 1,143 | 221,902 | ||||||
Murphy USA, Inc. | 810 | 235,037 | ||||||
O'Reilly
Automotive, Inc.(1)
|
1,290 | 899,285 | ||||||
Ulta
Beauty, Inc.(1)
|
5,667 | 2,379,403 | ||||||
Williams-Sonoma, Inc. | 5,809 | 864,089 | ||||||
5,938,212 | ||||||||
Technology Hardware, Storage and Peripherals — 2.2% | ||||||||
Apple, Inc. | 22,481 | 3,534,463 | ||||||
NetApp, Inc. | 3,068 | 221,295 | ||||||
Pure
Storage, Inc., Class A(1)
|
65,434 | 1,895,623 | ||||||
5,651,381 |
STOXX®
U.S. Quality Growth ETF |
||||||||
Shares | Value | |||||||
Textiles, Apparel and Luxury Goods — 2.7% | ||||||||
lululemon
athletica, Inc.(1)
|
11,821 | $ | 3,545,827 | |||||
NIKE, Inc., Class B | 23,926 | 2,546,923 | ||||||
Tapestry, Inc. | 26,223 | 910,725 | ||||||
7,003,475 | ||||||||
Trading Companies and Distributors — 0.2% | ||||||||
Univar
Solutions, Inc.(1)
|
16,636 | 419,560 | ||||||
W.W. Grainger, Inc. | 413 | 229,190 | ||||||
648,750 | ||||||||
Wireless Telecommunication Services — 2.4% | ||||||||
T-Mobile
US, Inc.(1)
|
42,615 | 6,134,855 | ||||||
TOTAL
COMMON STOCKS
(Cost
$259,113,977) |
258,393,818 | |||||||
SHORT-TERM
INVESTMENTS — 0.3% |
|
| ||||||
Money Market Funds — 0.3% | ||||||||
State
Street Institutional U.S. Government Money Market Fund, Premier Class
(Cost
$692,303) |
692,303 | 692,303 | ||||||
TOTAL
INVESTMENT SECURITIES — 100.0%
(Cost
$259,806,280) |
|
259,086,121 | ||||||
OTHER
ASSETS AND LIABILITIES†
|
|
46,842 | ||||||
TOTAL
NET ASSETS — 100.0% |
|
$ | 259,132,963 |
NOTES TO SCHEDULE OF INVESTMENTS |
STOXX®
U.S. Quality Value ETF |
||||||||
Shares | Value | |||||||
COMMON
STOCKS — 99.6% |
|
| ||||||
Aerospace and Defense — 2.4% | ||||||||
General Dynamics Corp. | 1,469 | $ | 336,298 | |||||
Huntington Ingalls Industries, Inc. | 1,447 | 333,186 | ||||||
Lockheed Martin Corp. | 8,400 | 3,528,924 | ||||||
Raytheon Technologies Corp. | 3,637 | 326,421 | ||||||
Textron, Inc. | 5,221 | 325,686 | ||||||
4,850,515 | ||||||||
Air Freight and Logistics — 1.7% | ||||||||
FedEx Corp. | 12,266 | 2,585,796 | ||||||
United Parcel Service, Inc., Class B | 4,571 | 889,105 | ||||||
3,474,901 | ||||||||
Airlines — 0.3% | ||||||||
Alaska
Air Group, Inc.(1)
|
7,568 | 329,662 | ||||||
Southwest
Airlines Co.(1)
|
9,069 | 332,832 | ||||||
662,494 | ||||||||
Auto Components — 0.2% | ||||||||
BorgWarner, Inc. | 8,992 | 338,998 | ||||||
Automobiles — 1.2% | ||||||||
Ford Motor Co. | 93,428 | 1,423,843 | ||||||
Harley-Davidson, Inc. | 8,445 | 325,724 | ||||||
Thor Industries, Inc. | 7,847 | 635,685 | ||||||
2,385,252 | ||||||||
Banks — 2.9% | ||||||||
Citigroup, Inc. | 36,162 | 1,765,067 | ||||||
Citizens Financial Group, Inc. | 47,951 | 1,758,843 | ||||||
Comerica, Inc. | 8,122 | 652,197 | ||||||
KeyCorp | 79,018 | 1,397,828 | ||||||
Popular, Inc. | 4,316 | 333,282 | ||||||
5,907,217 | ||||||||
Beverages — 0.3% | ||||||||
Molson Coors Beverage Co., Class B | 6,280 | 324,488 | ||||||
PepsiCo, Inc. | 1,950 | 335,926 | ||||||
660,414 | ||||||||
Biotechnology — 5.1% | ||||||||
AbbVie, Inc. | 18,724 | 2,517,629 | ||||||
Amgen, Inc. | 10,619 | 2,551,746 | ||||||
Biogen,
Inc.(1)
|
1,707 | 333,514 | ||||||
Gilead Sciences, Inc. | 41,025 | 2,603,857 | ||||||
Moderna,
Inc.(1)
|
12,306 | 1,627,714 | ||||||
Regeneron
Pharmaceuticals, Inc.(1)
|
579 | 336,434 | ||||||
United
Therapeutics Corp.(1)
|
1,584 | 358,966 | ||||||
10,329,860 | ||||||||
Building Products — 0.3% | ||||||||
Johnson Controls International PLC | 6,132 | 331,986 | ||||||
Owens Corning | 4,464 | 364,843 | ||||||
696,829 | ||||||||
Capital Markets — 1.6% | ||||||||
Bank of New York Mellon Corp. | 8,037 | 333,777 | ||||||
Franklin Resources, Inc. | 27,513 | 717,264 |
STOXX®
U.S. Quality Value ETF |
||||||||
Shares | Value | |||||||
Morgan Stanley | 6,195 | $ | 527,938 | |||||
State Street Corp. | 4,878 | 333,411 | ||||||
T. Rowe Price Group, Inc. | 11,916 | 1,429,920 | ||||||
3,342,310 | ||||||||
Chemicals — 3.3% | ||||||||
CF Industries Holdings, Inc. | 3,140 | 324,864 | ||||||
Dow, Inc. | 46,785 | 2,386,035 | ||||||
DuPont de Nemours, Inc. | 5,770 | 321,043 | ||||||
Huntsman Corp. | 11,493 | 322,034 | ||||||
LyondellBasell Industries NV, Class A | 20,455 | 1,697,765 | ||||||
Mosaic Co. | 22,578 | 1,216,277 | ||||||
Olin Corp. | 9,842 | 537,964 | ||||||
6,805,982 | ||||||||
Communications Equipment — 0.2% | ||||||||
F5,
Inc.(1)
|
2,088 | 327,941 | ||||||
Construction and Engineering — 0.2% | ||||||||
EMCOR Group, Inc. | 2,819 | 335,236 | ||||||
Consumer Finance — 0.2% | ||||||||
American Express Co. | 2,155 | 327,560 | ||||||
Containers and Packaging — 0.4% | ||||||||
Packaging Corp. of America | 4,010 | 549,049 | ||||||
Sealed Air Corp. | 6,057 | 325,927 | ||||||
874,976 | ||||||||
Diversified Financial Services — 0.2% | ||||||||
Berkshire
Hathaway, Inc., Class B(1)
|
1,173 | 329,378 | ||||||
Diversified Telecommunication Services — 3.1% | ||||||||
AT&T, Inc. | 193,271 | 3,389,973 | ||||||
Verizon Communications, Inc. | 70,302 | 2,939,327 | ||||||
6,329,300 | ||||||||
Electric Utilities — 4.7% | ||||||||
Alliant Energy Corp. | 4,422 | 269,919 | ||||||
American Electric Power Co., Inc. | 6,730 | 674,346 | ||||||
Duke Energy Corp. | 3,158 | 337,622 | ||||||
Entergy Corp. | 17,542 | 2,022,593 | ||||||
FirstEnergy Corp. | 4,777 | 188,930 | ||||||
NRG Energy, Inc. | 75,299 | 3,108,343 | ||||||
OGE Energy Corp. | 17,904 | 725,828 | ||||||
Pinnacle West Capital Corp. | 24,434 | 1,841,102 | ||||||
Southern Co. | 2,379 | 183,349 | ||||||
Xcel Energy, Inc. | 2,475 | 183,769 | ||||||
9,535,801 | ||||||||
Electrical Equipment — 0.2% | ||||||||
Emerson Electric Co. | 3,974 | 324,835 | ||||||
Electronic Equipment, Instruments and Components — 0.9% | ||||||||
Corning, Inc. | 15,004 | 514,937 | ||||||
Flex
Ltd.(1)
|
21,647 | 385,533 | ||||||
II-VI,
Inc.(1)
|
6,426 | 303,500 | ||||||
Jabil, Inc. | 5,928 | 357,459 | ||||||
TE Connectivity Ltd. | 2,640 | 333,194 | ||||||
1,894,623 |
STOXX®
U.S. Quality Value ETF |
||||||||
Shares | Value | |||||||
Equity Real Estate Investment Trusts (REITs) — 5.0% | ||||||||
Apartment Income REIT Corp. | 4,361 | $ | 178,147 | |||||
Brixmor Property Group, Inc. | 29,552 | 634,777 | ||||||
Crown Castle, Inc. | 1,089 | 186,034 | ||||||
CubeSmart | 3,809 | 175,404 | ||||||
Essex Property Trust, Inc. | 664 | 176,000 | ||||||
Extra Space Storage, Inc. | 1,088 | 216,218 | ||||||
Federal Realty Investment Trust | 8,848 | 896,037 | ||||||
Gaming and Leisure Properties, Inc. | 36,520 | 1,762,820 | ||||||
Host Hotels & Resorts, Inc. | 18,276 | 324,764 | ||||||
Kimco Realty Corp. | 9,094 | 191,702 | ||||||
Lamar Advertising Co., Class A | 14,749 | 1,384,784 | ||||||
Life Storage, Inc. | 1,672 | 212,762 | ||||||
National Retail Properties, Inc. | 40,512 | 1,818,989 | ||||||
Omega Healthcare Investors, Inc. | 10,585 | 345,706 | ||||||
STORE Capital Corp. | 54,117 | 1,460,077 | ||||||
Weyerhaeuser Co. | 9,547 | 326,125 | ||||||
10,290,346 | ||||||||
Food and Staples Retailing — 4.4% | ||||||||
Kroger Co. | 56,712 | 2,718,774 | ||||||
Walgreens Boots Alliance, Inc. | 106,565 | 3,736,169 | ||||||
Walmart, Inc. | 19,355 | 2,565,505 | ||||||
9,020,448 | ||||||||
Food Products — 4.5% | ||||||||
Archer-Daniels-Midland Co. | 3,846 | 338,025 | ||||||
Campbell Soup Co. | 38,793 | 1,954,391 | ||||||
General Mills, Inc. | 26,891 | 2,065,229 | ||||||
J.M. Smucker Co. | 4,024 | 563,320 | ||||||
Kellogg Co. | 2,482 | 180,541 | ||||||
Kraft Heinz Co. | 31,474 | 1,177,127 | ||||||
Tyson Foods, Inc., Class A | 39,026 | 2,941,780 | ||||||
9,220,413 | ||||||||
Gas Utilities — 0.1% | ||||||||
UGI Corp. | 4,650 | 183,675 | ||||||
Health Care Equipment and Supplies — 0.5% | ||||||||
Becton Dickinson and Co. | 1,345 | 339,505 | ||||||
DENTSPLY SIRONA, Inc. | 10,058 | 329,601 | ||||||
Medtronic PLC | 3,795 | 333,656 | ||||||
1,002,762 | ||||||||
Health Care Providers and Services — 5.4% | ||||||||
Cardinal Health, Inc. | 5,060 | 357,843 | ||||||
Centene
Corp.(1)
|
32,870 | 2,949,754 | ||||||
Cigna Corp. | 1,774 | 502,840 | ||||||
CVS Health Corp. | 3,423 | 335,967 | ||||||
DaVita,
Inc.(1)
|
11,381 | 970,686 | ||||||
Elevance Health, Inc. | 710 | 344,428 | ||||||
HCA Healthcare, Inc. | 9,823 | 1,943,677 | ||||||
Henry
Schein, Inc.(1)
|
4,655 | 341,724 | ||||||
Humana, Inc. | 706 | 340,137 | ||||||
Laboratory Corp. of America Holdings | 1,475 | 332,273 | ||||||
Molina
Healthcare, Inc.(1)
|
1,068 | 360,311 |
STOXX®
U.S. Quality Value ETF |
||||||||
Shares | Value | |||||||
Quest Diagnostics, Inc. | 2,677 | $ | 335,455 | |||||
Tenet
Healthcare Corp.(1)
|
16,570 | 936,205 | ||||||
UnitedHealth Group, Inc. | 646 | 335,487 | ||||||
Universal Health Services, Inc., Class B | 5,984 | 585,475 | ||||||
10,972,262 | ||||||||
Hotels, Restaurants and Leisure — 1.0% | ||||||||
Boyd Gaming Corp. | 6,109 | 332,513 | ||||||
Darden Restaurants, Inc. | 10,638 | 1,316,027 | ||||||
Expedia
Group, Inc.(1)
|
3,225 | 331,046 | ||||||
1,979,586 | ||||||||
Household Durables — 1.7% | ||||||||
Leggett & Platt, Inc. | 18,803 | 718,651 | ||||||
Lennar Corp., Class A | 4,118 | 318,939 | ||||||
Mohawk
Industries, Inc.(1)
|
9,061 | 999,972 | ||||||
PulteGroup, Inc. | 8,121 | 330,200 | ||||||
Whirlpool Corp. | 6,554 | 1,026,356 | ||||||
3,394,118 | ||||||||
Household Products — 1.2% | ||||||||
Colgate-Palmolive Co. | 2,327 | 181,995 | ||||||
Kimberly-Clark Corp. | 15,777 | 2,011,883 | ||||||
Procter & Gamble Co. | 1,334 | 184,012 | ||||||
2,377,890 | ||||||||
Industrial Conglomerates — 1.0% | ||||||||
3M Co. | 16,312 | 2,028,397 | ||||||
Insurance — 1.7% | ||||||||
Alleghany
Corp.(1)
|
415 | 349,090 | ||||||
First American Financial Corp. | 3,252 | 173,982 | ||||||
MetLife, Inc. | 5,197 | 334,323 | ||||||
Principal Financial Group, Inc. | 2,661 | 198,936 | ||||||
Reinsurance Group of America, Inc. | 2,708 | 339,475 | ||||||
Unum Group | 53,708 | 2,032,848 | ||||||
3,428,654 | ||||||||
Interactive Media and Services — 2.6% | ||||||||
Alphabet,
Inc., Class C(1)
|
26,734 | 2,918,016 | ||||||
Meta
Platforms, Inc., Class A(1)
|
14,500 | 2,362,485 | ||||||
5,280,501 | ||||||||
Internet and Direct Marketing Retail — 0.2% | ||||||||
eBay, Inc. | 7,504 | 331,152 | ||||||
IT Services — 4.9% | ||||||||
Accenture PLC, Class A | 1,129 | 325,671 | ||||||
Akamai
Technologies, Inc.(1)
|
3,695 | 333,585 | ||||||
Amdocs Ltd. | 3,975 | 339,743 | ||||||
Cognizant Technology Solutions Corp., Class A | 41,728 | 2,635,958 | ||||||
Concentrix Corp. | 7,842 | 986,367 | ||||||
Genpact Ltd. | 7,327 | 344,222 | ||||||
International Business Machines Corp. | 26,095 | 3,351,903 | ||||||
PayPal
Holdings, Inc.(1)
|
3,615 | 337,785 | ||||||
Visa, Inc., Class A | 1,666 | 331,051 | ||||||
Western Union Co. | 70,413 | 1,043,521 | ||||||
10,029,806 |
STOXX®
U.S. Quality Value ETF |
||||||||
Shares | Value | |||||||
Leisure Products — 0.2% | ||||||||
Brunswick Corp. | 4,259 | $ | 318,190 | |||||
Machinery — 0.8% | ||||||||
AGCO Corp. | 3,033 | 329,718 | ||||||
Caterpillar, Inc. | 1,758 | 324,720 | ||||||
Cummins, Inc. | 1,527 | 328,870 | ||||||
Dover Corp. | 2,590 | 323,646 | ||||||
Parker-Hannifin Corp. | 1,196 | 316,940 | ||||||
1,623,894 | ||||||||
Media — 2.1% | ||||||||
Altice
USA, Inc., Class A(1)
|
67,042 | 670,420 | ||||||
Charter
Communications, Inc., Class A(1)
|
797 | 328,866 | ||||||
Comcast Corp., Class A | 9,299 | 336,531 | ||||||
Fox Corp., Class A | 9,995 | 341,629 | ||||||
Interpublic Group of Cos., Inc. | 43,922 | 1,214,004 | ||||||
Omnicom Group, Inc. | 21,500 | 1,438,350 | ||||||
4,329,800 | ||||||||
Metals and Mining — 0.7% | ||||||||
Alcoa Corp. | 16,996 | 840,962 | ||||||
Nucor Corp. | 2,424 | 322,246 | ||||||
Steel Dynamics, Inc. | 4,030 | 325,302 | ||||||
1,488,510 | ||||||||
Multi-Utilities — 0.2% | ||||||||
Ameren Corp. | 1,955 | 181,072 | ||||||
WEC Energy Group, Inc. | 2,126 | 219,276 | ||||||
400,348 | ||||||||
Multiline Retail — 1.2% | ||||||||
Macy's, Inc. | 36,687 | 635,419 | ||||||
Target Corp. | 11,722 | 1,879,505 | ||||||
2,514,924 | ||||||||
Oil, Gas and Consumable Fuels — 6.8% | ||||||||
Antero
Resources Corp.(1)
|
8,244 | 330,419 | ||||||
APA Corp. | 25,962 | 1,015,374 | ||||||
Chesapeake
Energy Corp.(2)
|
3,368 | 338,450 | ||||||
Chevron Corp. | 13,560 | 2,143,294 | ||||||
Exxon Mobil Corp. | 22,527 | 2,153,356 | ||||||
HF Sinclair Corp. | 9,746 | 512,932 | ||||||
Marathon Oil Corp. | 13,258 | 339,272 | ||||||
Marathon Petroleum Corp. | 3,299 | 332,374 | ||||||
Murphy Oil Corp. | 8,949 | 348,743 | ||||||
Occidental Petroleum Corp. | 4,694 | 333,274 | ||||||
Ovintiv, Inc. | 19,299 | 1,025,549 | ||||||
PDC Energy, Inc. | 10,210 | 693,361 | ||||||
Phillips 66 | 19,782 | 1,769,698 | ||||||
SM Energy Co. | 15,116 | 666,162 | ||||||
Valero Energy Corp. | 15,043 | 1,761,836 | ||||||
13,764,094 | ||||||||
Paper and Forest Products — 0.3% | ||||||||
Louisiana-Pacific Corp. | 11,945 | 647,777 | ||||||
Pharmaceuticals — 4.9% | ||||||||
Bristol-Myers Squibb Co. | 4,890 | 329,635 |
STOXX®
U.S. Quality Value ETF |
||||||||
Shares | Value | |||||||
Johnson & Johnson | 13,194 | $ | 2,128,720 | |||||
Merck & Co., Inc. | 28,470 | 2,430,199 | ||||||
Organon & Co. | 11,524 | 328,780 | ||||||
Perrigo Co. PLC | 8,678 | 324,731 | ||||||
Pfizer, Inc. | 99,071 | 4,480,981 | ||||||
10,023,046 | ||||||||
Professional Services — 1.1% | ||||||||
CACI
International, Inc., Class A(1)
|
1,244 | 349,402 | ||||||
Leidos Holdings, Inc. | 3,505 | 333,150 | ||||||
ManpowerGroup, Inc. | 11,355 | 832,549 | ||||||
Nielsen Holdings PLC | 12,558 | 349,615 | ||||||
Robert Half International, Inc. | 4,325 | 332,895 | ||||||
2,197,611 | ||||||||
Real Estate Management and Development — 0.3% | ||||||||
CBRE
Group, Inc., Class A(1)
|
4,190 | 330,842 | ||||||
Jones
Lang LaSalle, Inc.(1)
|
1,933 | 334,409 | ||||||
665,251 | ||||||||
Road and Rail — 0.8% | ||||||||
CSX Corp. | 10,289 | 325,647 | ||||||
Norfolk Southern Corp. | 1,329 | 323,120 | ||||||
Union Pacific Corp. | 1,462 | 328,233 | ||||||
XPO
Logistics, Inc.(1)
|
12,278 | 643,613 | ||||||
1,620,613 | ||||||||
Semiconductors and Semiconductor Equipment — 5.6% | ||||||||
Analog Devices, Inc. | 2,093 | 317,152 | ||||||
Applied Materials, Inc. | 3,330 | 313,253 | ||||||
Broadcom, Inc. | 978 | 488,130 | ||||||
Intel Corp. | 90,188 | 2,878,801 | ||||||
Microchip Technology, Inc. | 4,954 | 323,248 | ||||||
Micron Technology, Inc. | 39,990 | 2,260,635 | ||||||
MKS Instruments, Inc. | 3,199 | 318,652 | ||||||
ON
Semiconductor Corp.(1)
|
22,789 | 1,567,199 | ||||||
Qorvo,
Inc.(1)
|
3,429 | 307,856 | ||||||
QUALCOMM, Inc. | 2,632 | 348,135 | ||||||
Skyworks Solutions, Inc. | 14,039 | 1,383,543 | ||||||
Synaptics,
Inc.(1)
|
2,611 | 301,858 | ||||||
Teradyne, Inc. | 3,629 | 307,159 | ||||||
Texas Instruments, Inc. | 1,972 | 325,794 | ||||||
11,441,415 | ||||||||
Software — 1.1% | ||||||||
Check
Point Software Technologies Ltd.(1)
|
2,850 | 342,684 | ||||||
Microsoft Corp. | 1,254 | 327,883 | ||||||
NortonLifeLock, Inc. | 14,954 | 337,811 | ||||||
Oracle Corp. (New York) | 4,547 | 337,160 | ||||||
Salesforce,
Inc.(1)
|
2,010 | 313,801 | ||||||
VMware, Inc., Class A | 2,873 | 333,354 | ||||||
Zoom
Video Communications, Inc., Class A(1)
|
4,079 | 327,952 | ||||||
2,320,645 | ||||||||
Specialty Retail — 3.2% | ||||||||
Advance Auto Parts, Inc. | 1,932 | 325,813 | ||||||
AutoNation,
Inc.(1)
|
5,415 | 674,709 |
STOXX®
U.S. Quality Value ETF |
||||||||
Shares | Value | |||||||
Bath & Body Works, Inc. | 9,218 | $ | 344,108 | |||||
Best Buy Co., Inc. | 36,804 | 2,601,675 | ||||||
Dick's
Sporting Goods, Inc.(2)
|
6,344 | 674,811 | ||||||
Home Depot, Inc. | 1,129 | 325,626 | ||||||
Lowe's Cos., Inc. | 1,657 | 321,690 | ||||||
Murphy USA, Inc. | 1,176 | 341,240 | ||||||
Williams-Sonoma, Inc. | 6,319 | 939,951 | ||||||
6,549,623 | ||||||||
Technology Hardware, Storage and Peripherals — 4.3% | ||||||||
Apple, Inc. | 12,572 | 1,976,570 | ||||||
Dell Technologies, Inc., Class C | 7,299 | 279,479 | ||||||
Hewlett Packard Enterprise Co. | 163,594 | 2,224,878 | ||||||
HP, Inc. | 103,696 | 2,977,112 | ||||||
NetApp, Inc. | 4,450 | 320,978 | ||||||
Seagate Technology Holdings PLC | 15,131 | 1,013,172 | ||||||
8,792,189 | ||||||||
Textiles, Apparel and Luxury Goods — 0.8% | ||||||||
Capri
Holdings Ltd.(1)
|
6,746 | 318,276 | ||||||
PVH Corp. | 10,326 | 580,837 | ||||||
Ralph Lauren Corp. | 5,475 | 500,032 | ||||||
Tapestry, Inc. | 9,508 | 330,213 | ||||||
1,729,358 | ||||||||
Tobacco — 1.4% | ||||||||
Altria Group, Inc. | 7,537 | 340,070 | ||||||
Philip Morris International, Inc. | 26,568 | 2,536,978 | ||||||
2,877,048 | ||||||||
Trading Companies and Distributors — 0.2% | ||||||||
United
Rentals, Inc.(1)
|
1,094 | 319,492 | ||||||
TOTAL
COMMON STOCKS
(Cost
$207,115,471) |
202,898,260 | |||||||
SHORT-TERM
INVESTMENTS — 0.5% |
|
| ||||||
Money Market Funds — 0.5% | ||||||||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 340,212 | 340,212 | ||||||
State
Street Navigator Securities Lending Government Money Market
Portfolio(3)
|
600,005 | 600,005 | ||||||
TOTAL
SHORT-TERM INVESTMENTS
(Cost
$940,217) |
940,217 | |||||||
TOTAL
INVESTMENT SECURITIES — 100.1%
(Cost
$208,055,688) |
|
203,838,477 | ||||||
OTHER
ASSETS AND LIABILITIES — (0.1)% |
|
(193,924) | ||||||
TOTAL
NET ASSETS — 100.0% |
|
$ | 203,644,553 |
NOTES TO SCHEDULE OF INVESTMENTS |
Statements of Assets and Liabilities |
AUGUST 31, 2022 | ||||||||
Low Volatility ETF | Quality Convertible Securities ETF | |||||||
Assets | ||||||||
Investment securities, at value (cost of $7,510,810 and $25,980,652, respectively) | $ | 7,441,710 | $ | 24,560,630 | ||||
Dividends and interest receivable | 10,525 | 84,411 | ||||||
7,452,235 | 24,645,041 | |||||||
Liabilities | ||||||||
Accrued management fees | 1,923 | 6,856 | ||||||
Net Assets | $ | 7,450,312 | $ | 24,638,185 | ||||
Shares outstanding (unlimited number of shares authorized) | 180,000 | 600,000 | ||||||
Net Asset Value Per Share | $ | 41.39 | $ | 41.06 | ||||
Net Assets Consist of: | ||||||||
Capital paid in | $ | 8,069,394 | $ | 28,660,267 | ||||
Distributable earnings | (619,082) | (4,022,082) | ||||||
$ | 7,450,312 | $ | 24,638,185 |
AUGUST 31, 2022 | ||||||||
Quality Diversified International ETF | Quality Preferred ETF | |||||||
Assets | ||||||||
Investment securities, at value (cost of $211,276,771 and $24,184,184, respectively) — including $3,558,796 and $—, respectively of securities on loan | $ | 189,386,726 | $ | 22,233,402 | ||||
Investment made with cash collateral received for securities on loan, at value (cost of $1,364,843 and $—, respectively) | 1,364,843 | — | ||||||
Total investment securities, at value (cost of $212,641,614 and $24,184,184, respectively) | 190,751,569 | 22,233,402 | ||||||
Foreign currency holdings, at value (cost of $12,286 and $—, respectively) | 12,253 | — | ||||||
Dividends and interest receivable | 912,624 | 166,659 | ||||||
Securities lending receivable | 3,744 | — | ||||||
191,680,190 | 22,400,061 | |||||||
Liabilities | ||||||||
Payable for collateral received for securities on loan | 1,364,843 | — | ||||||
Accrued management fees | 65,972 | 6,255 | ||||||
1,430,815 | 6,255 | |||||||
Net Assets | $ | 190,249,375 | $ | 22,393,806 | ||||
Shares outstanding (unlimited number of shares authorized) | 4,950,000 | 615,000 | ||||||
Net Asset Value Per Share | $ | 38.43 | $ | 36.41 | ||||
Net Assets Consist of: | ||||||||
Capital paid in | $ | 238,417,263 | $ | 24,932,402 | ||||
Distributable earnings | (48,167,888) | (2,538,596) | ||||||
$ | 190,249,375 | $ | 22,393,806 |
AUGUST 31, 2022 | ||||||||
STOXX®
U.S. Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | |||||||
Assets | ||||||||
Investment securities, at value (cost of $259,806,280 and $207,455,683, respectively) — including $— and $790,512, respectively of securities on loan | $ | 259,086,121 | $ | 203,238,472 | ||||
Investment made with cash collateral received for securities on loan, at value (cost of $— and $600,005, respectively) | — | 600,005 | ||||||
Total investment securities, at value (cost of $259,806,280 and $208,055,688, respectively) | 259,086,121 | 203,838,477 | ||||||
Receivable for investments sold | 79,636,065 | 54,241,945 | ||||||
Receivable for capital shares sold | — | 5,984,300 | ||||||
Dividends and interest receivable | 515,259 | 722,495 | ||||||
Securities lending receivable | — | 70 | ||||||
339,237,445 | 264,787,287 | |||||||
Liabilities | ||||||||
Payable for collateral received for securities on loan | — | 600,005 | ||||||
Payable for investments purchased | 80,041,719 | 54,637,433 | ||||||
Payable for capital shares redeemed | — | 5,852,425 | ||||||
Accrued management fees | 62,763 | 52,871 | ||||||
80,104,482 | 61,142,734 | |||||||
Net Assets | $ | 259,132,963 | $ | 203,644,553 | ||||
Shares outstanding (unlimited number of shares authorized) | 4,300,000 | 4,350,000 | ||||||
Net Asset Value Per Share | $ | 60.26 | $ | 46.81 | ||||
Net Assets Consist of: | ||||||||
Capital paid in | $ | 307,835,086 | $ | 229,515,611 | ||||
Distributable earnings | (48,702,123) | (25,871,058) | ||||||
$ | 259,132,963 | $ | 203,644,553 |
Statements of Operations |
YEAR
ENDED AUGUST 31, 2022 |
||||||||
Low Volatility ETF | Quality Convertible Securities ETF | |||||||
Investment Income (Loss) | ||||||||
Income: | ||||||||
Dividends (net of foreign taxes withheld of $105 and $—, respectively) | $ | 134,229 | $ | 317,603 | ||||
Interest | 163 | 187,658 | ||||||
134,392 | 505,261 | |||||||
Expenses: | ||||||||
Management fees | 21,528 | 76,593 | ||||||
Net investment income (loss) | 112,864 | 428,668 | ||||||
Realized and Unrealized Gain (Loss) | ||||||||
Net realized gain (loss) on investment transactions | (184,372) | (1,495,888) | ||||||
Change in net unrealized appreciation (depreciation) on investments | (853,772) | (2,374,184) | ||||||
Net realized and unrealized gain (loss) | (1,038,144) | (3,870,072) | ||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (925,280) | $ | (3,441,404) |
YEAR
ENDED AUGUST 31, 2022 | ||||||||
Quality Diversified International ETF | Quality Preferred ETF | |||||||
Investment Income (Loss) | ||||||||
Income: | ||||||||
Dividends (net of foreign taxes withheld of $813,572 and $83, respectively) | $ | 7,394,818 | $ | 915,771 | ||||
Interest | 3,461 | 102,226 | ||||||
Securities lending, net | 54,338 | — | ||||||
7,452,617 | 1,017,997 | |||||||
Expenses: | ||||||||
Management fees | 820,589 | 66,377 | ||||||
Other expenses | 449 | — | ||||||
821,038 | 66,377 | |||||||
Net investment income (loss) | 6,631,579 | 951,620 | ||||||
Realized and Unrealized Gain (Loss) | ||||||||
Net realized gain (loss) on: | ||||||||
Investment transactions | (20,714,345) | (562,701) | ||||||
Foreign currency translation transactions | (26,135) | — | ||||||
(20,740,480) | (562,701) | |||||||
Change in net unrealized appreciation (depreciation) on: | ||||||||
Investments | (46,361,540) | (2,353,989) | ||||||
Translation of assets and liabilities in foreign currencies | (37,897) | — | ||||||
(46,399,437) | (2,353,989) | |||||||
Net realized and unrealized gain (loss) | (67,139,917) | (2,916,690) | ||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (60,508,338) | $ | (1,965,070) |
YEAR ENDED AUGUST 31, 2022 | ||||||||
STOXX®
U.S. Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | |||||||
Investment Income (Loss) | ||||||||
Income: | ||||||||
Dividends (net of foreign taxes withheld of $— and $751, respectively) | $ | 1,704,112 | $ | 5,713,152 | ||||
Securities lending, net | 6,175 | 1,889 | ||||||
Interest | 2,853 | 2,350 | ||||||
1,713,140 | 5,717,391 | |||||||
Expenses: | ||||||||
Management fees | 670,267 | 624,809 | ||||||
Other expenses | — | 475 | ||||||
670,267 | 625,284 | |||||||
Net investment income (loss) | 1,042,873 | 5,092,107 | ||||||
Realized and Unrealized Gain (Loss) | ||||||||
Net realized gain (loss) on investment transactions | (22,578,679) | 14,286,072 | ||||||
Change in net unrealized appreciation (depreciation) on investments | (33,328,949) | (37,284,433) | ||||||
Net realized and unrealized gain (loss) | (55,907,628) | (22,998,361) | ||||||
Net Increase (Decrease) in Net Assets Resulting from Operations | $ | (54,864,755) | $ | (17,906,254) |
Statements of Changes in Net Assets |
YEAR
ENDED AUGUST 31, 2022 AND PERIOD ENDED AUGUST 31, 2021 |
|||||||||||||||||
Low Volatility ETF | Quality Convertible Securities ETF | ||||||||||||||||
Increase (Decrease) in Net Assets | August 31, 2022 |
August
31, 2021(1) |
August 31, 2022 |
August
31, 2021(2) |
|||||||||||||
Operations | |||||||||||||||||
Net investment income (loss) | $ | 112,864 | $ | 40,657 | $ | 428,668 | $ | 147,026 | |||||||||
Net realized gain (loss) | (184,372) | 165,605 | (1,495,888) | (523,605) | |||||||||||||
Change in net unrealized appreciation (depreciation) | (853,772) | 784,672 | (2,374,184) | 954,162 | |||||||||||||
Net increase (decrease) in net assets resulting from operations | (925,280) | 990,934 | (3,441,404) | 577,583 | |||||||||||||
Distributions to Shareholders | |||||||||||||||||
From earnings | (98,904) | (27,228) | (478,670) | (104,616) | |||||||||||||
Capital Share Transactions | |||||||||||||||||
Proceeds from shares sold | 4,872,033 | 6,851,065 | 10,241,059 | 25,554,072 | |||||||||||||
Payments for shares redeemed | (2,830,681) | (1,381,627) | (7,753,296) | — | |||||||||||||
Other capital | — | — | 26,490 | 16,967 | |||||||||||||
Net increase (decrease) in net assets from capital share transactions | 2,041,352 | 5,469,438 | 2,514,253 | 25,571,039 | |||||||||||||
Net increase (decrease) in net assets | 1,017,168 | 6,433,144 | (1,405,821) | 26,044,006 | |||||||||||||
Net Assets | |||||||||||||||||
Beginning of period | 6,433,144 | — | 26,044,006 | — | |||||||||||||
End of period | $ | 7,450,312 | $ | 6,433,144 | $ | 24,638,185 | $ | 26,044,006 | |||||||||
Transactions in Shares of the Funds | |||||||||||||||||
Sold | 105,000 | 165,000 | 220,000 | 540,000 | |||||||||||||
Redeemed | (60,000) | (30,000) | (160,000) | — | |||||||||||||
Net increase (decrease) in shares of the funds | 45,000 | 135,000 | 60,000 | 540,000 |
YEARS
ENDED AUGUST 31, 2022 AND AUGUST 31, 2021 (EXCEPT AS
NOTED) | ||||||||||||||
Quality Diversified International ETF | Quality Preferred ETF | |||||||||||||
Increase (Decrease) in Net Assets | August 31, 2022 | August 31, 2021 | August 31, 2022 |
August
31, 2021(1) | ||||||||||
Operations | ||||||||||||||
Net investment income (loss) | $ | 6,631,579 | $ | 3,487,829 | $ | 951,620 | $ | 344,799 | ||||||
Net realized gain (loss) | (20,740,480) | 13,029,182 | (562,701) | 175,516 | ||||||||||
Change in net unrealized appreciation (depreciation) | (46,399,437) | 13,883,259 | (2,353,989) | 403,207 | ||||||||||
Net increase (decrease) in net assets resulting from operations | (60,508,338) | 30,400,270 | (1,965,070) | 923,522 | ||||||||||
Distributions to Shareholders | ||||||||||||||
From earnings | (6,315,055) | (3,209,185) | (961,361) | (292,191) | ||||||||||
Capital Share Transactions | ||||||||||||||
Proceeds from shares sold | 69,646,490 | 129,800,116 | 11,206,587 | 26,206,795 | ||||||||||
Payments for shares redeemed | (20,994,370) | (49,841,406) | (8,412,358) | (4,335,252) | ||||||||||
Other capital | — | — | 11,268 | 11,866 | ||||||||||
Net increase (decrease) in net assets from capital share transactions | 48,652,120 | 79,958,710 | 2,805,497 | 21,883,409 | ||||||||||
Net increase (decrease) in net assets | (18,171,273) | 107,149,795 | (120,934) | 22,514,740 | ||||||||||
Net Assets | ||||||||||||||
Beginning of period | 208,420,648 | 101,270,853 | 22,514,740 | — | ||||||||||
End of period | $ | 190,249,375 | $ | 208,420,648 | $ | 22,393,806 | $ | 22,514,740 | ||||||
Transactions in Shares of the Funds | ||||||||||||||
Sold | 1,400,000 | 2,600,000 | 285,000 | 645,000 | ||||||||||
Redeemed | (400,000) | (1,000,000) | (210,000) | (105,000) | ||||||||||
Net increase (decrease) in shares of the funds | 1,000,000 | 1,600,000 | 75,000 | 540,000 |
YEARS ENDED AUGUST 31, 2022 AND AUGUST 31, 2021 | ||||||||||||||
STOXX®
U.S. Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | |||||||||||||
Increase (Decrease) in Net Assets | August 31, 2022 | August 31, 2021 | August 31, 2022 | August 31, 2021 | ||||||||||
Operations | ||||||||||||||
Net investment income (loss) | $ | 1,042,873 | $ | 841,343 | $ | 5,092,107 | $ | 3,562,962 | ||||||
Net realized gain (loss) | (22,578,679) | 68,950,979 | 14,286,072 | 33,367,852 | ||||||||||
Change in net unrealized appreciation (depreciation) | (33,328,949) | 1,940,684 | (37,284,433) | 21,953,183 | ||||||||||
Net increase (decrease) in net assets resulting from operations | (54,864,755) | 71,733,006 | (17,906,254) | 58,883,997 | ||||||||||
Distributions to Shareholders | ||||||||||||||
From earnings | (911,250) | (546,618) | (4,592,625) | (3,277,478) | ||||||||||
Capital Share Transactions | ||||||||||||||
Proceeds from shares sold | 145,371,800 | 250,557,892 | 91,853,363 | 171,502,978 | ||||||||||
Payments for shares redeemed | (88,984,655) | (278,660,990) | (120,929,370) | (109,488,315) | ||||||||||
Net increase (decrease) in net assets from capital share transactions | 56,387,145 | (28,103,098) | (29,076,007) | 62,014,663 | ||||||||||
Net increase (decrease) in net assets | 611,140 | 43,083,290 | (51,574,886) | 117,621,182 | ||||||||||
Net Assets | ||||||||||||||
Beginning of period | 258,521,823 | 215,438,533 | 255,219,439 | 137,598,257 | ||||||||||
End of period | $ | 259,132,963 | $ | 258,521,823 | $ | 203,644,553 | $ | 255,219,439 | ||||||
Transactions in Shares of the Funds | ||||||||||||||
Sold | 2,125,000 | 3,800,000 | 1,825,000 | 3,625,000 | ||||||||||
Redeemed | (1,250,000) | (4,225,000) | (2,400,000) | (2,250,000) | ||||||||||
Net increase (decrease) in shares of the funds | 875,000 | (425,000) | (575,000) | 1,375,000 |
Notes to Financial Statements |
Remaining Contractual Maturity of Agreements | |||||||||||||||||
Fund
/ Securities Lending Transactions(1) |
Overnight
and Continuous |
<30 days | Between
30 & 90 days |
>90 days | Total | ||||||||||||
Quality Diversified International ETF | |||||||||||||||||
Common Stocks | $ | 1,364,843 | — | — | — | $ | 1,364,843 | ||||||||||
Gross amount of recognized liabilities for securities lending transactions | $ | 1,364,843 | |||||||||||||||
STOXX®
U.S. Quality Value ETF | |||||||||||||||||
Common Stocks | $ | 600,005 | — | — | — | $ | 600,005 | ||||||||||
Gross amount of recognized liabilities for securities lending transactions | $ | 600,005 |
Annual Management Fee | |||||
Low Volatility ETF | 0.29% | ||||
Quality Convertible Securities ETF | 0.32% | ||||
Quality Diversified International ETF | 0.39% | ||||
Quality Preferred ETF | 0.32% | ||||
STOXX®
U.S. Quality Growth ETF |
0.29% | ||||
STOXX®
U.S. Quality Value ETF |
0.29% |
Low Volatility ETF | Quality Convertible Securities ETF | Quality Diversified International ETF | Quality Preferred ETF |
STOXX®
U.S. Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | |||||||||||||||
Purchases | $12,251,359 | $19,441,852 | $243,674,955 | $10,673,005 | $355,965,698 | $254,650,658 | ||||||||||||||
Sales | $12,420,675 | $14,271,836 | $224,291,655 | $10,026,302 | $353,091,972 | $253,603,879 |
In
kind Subscriptions |
In
kind Redemptions |
In
kind
Net
Realized
Gain/(Loss)* | |||||||||
Low Volatility ETF | $4,787,173 | $2,577,803 | $371,508 | ||||||||
Quality Convertible Securities ETF | $4,859,721 | $7,436,970 | $585,502 | ||||||||
Quality Diversified International ETF | $49,446,769 | $20,530,312 | $3,791,238 | ||||||||
Quality Preferred ETF | $9,328,371 | $7,489,105 | $80,601 | ||||||||
STOXX®
U.S. Quality Growth ETF |
$142,635,735 | $87,724,212 | $20,081,510 | ||||||||
STOXX®
U.S. Quality Value ETF |
$89,166,023 | $118,311,256 | $25,188,025 |
Low Volatility ETF | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Common Stocks | $ | 7,396,348 | — | — | |||||||
Short-Term Investments | 45,362 | — | — | ||||||||
$ | 7,441,710 | — | — |
Quality Convertible Securities ETF | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Convertible Bonds | — | $ | 17,820,472 | — | |||||||
Convertible Preferred Stocks | $ | 351,480 | 4,416,399 | — | |||||||
Common Stocks | 1,249,213 | — | — | ||||||||
Short-Term Investments | 723,066 | — | — | ||||||||
$ | 2,323,759 | $ | 22,236,871 | — |
Quality Diversified International ETF | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Common Stocks | $ | 995,136 | $ | 187,212,760 | — | ||||||
Short-Term Investments | 2,543,673 | — | — | ||||||||
$ | 3,538,809 | $ | 187,212,760 | — |
Quality Preferred ETF | |||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Preferred Stocks | $ | 15,669,228 | $ | 3,107,484 | — | ||||||
Convertible Preferred Stocks | 224,624 | 1,353,689 | — | ||||||||
Corporate Bonds | — | 525,575 | — | ||||||||
Common Stocks | 448,093 | — | — | ||||||||
Short-Term Investments | 904,709 | — | — | ||||||||
$ | 17,246,654 | $ | 4,986,748 | — |
STOXX®
U.S. Quality Growth ETF |
|||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Common Stocks | $ | 258,393,818 | — | — | |||||||
Short-Term Investments | 692,303 | — | — | ||||||||
$ | 259,086,121 | — | — |
STOXX®
U.S. Quality Value ETF |
|||||||||||
Level 1 | Level 2 | Level 3 | |||||||||
Assets | |||||||||||
Investment Securities | |||||||||||
Common Stocks | $ | 202,898,260 | — | — | |||||||
Short-Term Investments | 940,217 | — | — | ||||||||
$ | 203,838,477 | — | — |
2022 | 2021 | |||||||||||||
Distributions Paid From: | Distributions Paid From: | |||||||||||||
Ordinary Income | Long-term Capital Gains | Ordinary Income | Long-term Capital Gains | |||||||||||
Low
Volatility ETF(1) |
$ | 98,904 | — | $ | 27,228 | — | ||||||||
Quality
Convertible
Securities
ETF(2) |
$ | 478,670 | — | $ | 104,616 | — | ||||||||
Quality
Diversified International ETF |
$ | 6,315,055 | — | $ | 3,209,185 | — | ||||||||
Quality
Preferred ETF(2) |
$ | 961,361 | — | $ | 292,191 | — | ||||||||
STOXX®
U.S. Quality
Growth
ETF |
$ | 911,250 | — | $ | 546,618 | — | ||||||||
STOXX®
U.S. Quality
Value
ETF |
$ | 4,592,625 | — | $ | 3,277,478 | — |
Low Volatility ETF | Quality Convertible Securities ETF | Quality Diversified International ETF | Quality Preferred ETF |
STOXX®
U.S. Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | |||||||||||||||
Capital paid in | $ | 376,002 | $ | 574,975 | $ | 3,828,624 | $ | 94,063 | $ | 20,050,908 | $ | 25,040,370 | ||||||||
Distributable earnings | $ | (376,002) | $ | (574,975) | $ | (3,828,624) | $ | (94,063) | $ | (20,050,908) | $ | (25,040,370) |
Low
Volatility ETF |
Quality Convertible Securities ETF | Quality Diversified International ETF | |||||||||
Federal tax cost of investments | $ | 7,541,719 | $ | 26,101,126 | $ | 213,787,716 | |||||
Gross tax appreciation of investments | $ | 275,753 | $ | 937,851 | $ | 7,501,079 | |||||
Gross tax depreciation of investments | (375,762) | (2,478,347) | (30,537,226) | ||||||||
Net
tax appreciation (depreciation) of investments |
(100,009) | (1,540,496) | (23,036,147) | ||||||||
Net tax appreciation (depreciation) on translation of assets and liabilities in foreign currencies | — | — | $ | (35,997) | |||||||
Net tax appreciation (depreciation) | $ | (100,009) | $ | (1,540,496) | $ | (23,072,144) | |||||
Undistributed ordinary income | $ | 16,001 | $ | 87,677 | $ | 1,328,397 | |||||
Accumulated long-term capital losses | — | $ | (375,354) | $ | (2,425,958) | ||||||
Accumulated short-term capital losses | $ | (535,074) | $ | (2,193,909) | $ | (23,998,183) |
Quality
Preferred ETF |
STOXX®
U.S.
Quality
Growth ETF |
STOXX®
U.S.
Quality
Value ETF | |||||||||
Federal tax cost of investments | $ | 24,125,881 | $ | 261,283,766 | $ | 209,819,547 | |||||
Gross tax appreciation of investments | $ | 13,044 | $ | 9,226,611 | $ | 8,060,393 | |||||
Gross tax depreciation of investments | (1,905,523) | (11,424,256) | (14,041,463) | ||||||||
Net
tax appreciation (depreciation) of investments |
$ | (1,892,479) | $ | (2,197,645) | $ | (5,981,070) | |||||
Undistributed ordinary income | $ | 123,232 | $ | 51,900 | $ | 806,810 | |||||
Accumulated long-term capital losses | $ | (60,171) | $ | (3,532,154) | $ | (1,378,509) | |||||
Accumulated short-term capital losses | $ | (709,178) | $ | (43,024,224) | $ | (19,318,289) |
Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | |||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Ratio to Average Net Assets of: | ||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period |
Net
Investment
Income
(Loss)(1) |
Net Realized and Unrealized Gain (Loss) |
Total
From Investment Operations |
Distributions From Net Investment Income |
Net Asset Value, End of Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets, End of Period (in thousands) | |||||||||||||||||||||||||
Low Volatility ETF | |||||||||||||||||||||||||||||||||||
2022 | $47.65 | 0.68 | (6.35) | (5.67) | (0.59) | $41.39 | (11.98)% | 0.29% | 1.52% | 167% | $7,450 | ||||||||||||||||||||||||
2021(4) |
$39.84 | 0.34 | 7.70 | 8.04 | (0.23) | $47.65 | 20.26% |
0.29%(5) |
1.24%(5) |
61% | $6,433 |
Notes to Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | ||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | |||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period |
Net
Investment
Income
(Loss)(1) |
Net Realized and Unrealized Gain (Loss) |
Total
From Investment Operations |
Distributions From Net Investment Income |
Other
Capital(1) |
Net Asset Value, End of Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets, End of Period (in thousands) | |||||||||||||||||||||||||||
Quality Convertible Securities ETF | ||||||||||||||||||||||||||||||||||||||
2022 | $48.23 | 0.80 | (7.10) | (6.30) | (0.92) | 0.05 | $41.06 | (13.13)% | 0.32% | 1.79% | 64% | $24,638 | ||||||||||||||||||||||||||
2021(4) |
$50.00 | 0.39 | (1.95) | (1.56) | (0.25) | 0.04 | $48.23 | (3.03)% |
0.32%(5) |
1.53%(5) |
110% | $26,044 |
Notes to Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | |||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Ratio to Average Net Assets of: | ||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period |
Net
Investment
Income
(Loss)(1) |
Net Realized and Unrealized Gain (Loss) |
Total
From Investment Operations |
Distributions From Net Investment Income | Net Asset Value, End of Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets, End of Period (in thousands) | |||||||||||||||||||||||||
Quality Diversified International ETF | |||||||||||||||||||||||||||||||||||
2022 | $52.76 | 1.45 | (14.40) | (12.95) | (1.38) | $38.43 | (24.82)% | 0.39% | 3.15% | 108% | $190,249 | ||||||||||||||||||||||||
2021 | $43.09 | 1.17 | 9.56 | 10.73 | (1.06) | $52.76 | 25.04% | 0.39% | 2.37% | 107% | $208,421 | ||||||||||||||||||||||||
2020 | $37.44 | 0.78 | 5.42 | 6.20 | (0.55) | $43.09 | 16.67% | 0.39% | 2.00% | 118% | $101,271 | ||||||||||||||||||||||||
2019(4) |
$39.85 | 0.98 | (2.69) | (1.71) | (0.70) | $37.44 | (4.32)% |
0.39%(5) |
2.67%(5) |
119% | $18,719 |
Notes to Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | ||||||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | |||||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Ratio to Average Net Assets of: | |||||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period |
Net
Investment
Income
(Loss)(1) |
Net Realized and Unrealized Gain (Loss) |
Total
From Investment Operations |
Distributions From Net Investment Income |
Other
Capital(1) |
Net Asset Value, End of Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets, End of Period (in thousands) | |||||||||||||||||||||||||||
Quality Preferred ETF | ||||||||||||||||||||||||||||||||||||||
2022 | $41.69 | 1.78 | (5.29) | (3.51) | (1.79) | 0.02 | $36.41 | (8.58)% | 0.32% | 4.59% | 51% | $22,394 | ||||||||||||||||||||||||||
2021(4) |
$40.00 | 1.01 | 1.48 | 2.49 | (0.83) | 0.03 | $41.69 | 6.35% |
0.32%(5) |
4.59%(5) |
61% | $22,515 |
Notes to Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | |||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Ratio to Average Net Assets of: | ||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period |
Net
Investment
Income
(Loss)(1) |
Net Realized and Unrealized Gain (Loss) |
Total
From Investment Operations |
Distributions From Net Investment Income | Net Asset Value, End of Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets, End of Period (in thousands) | |||||||||||||||||||||||||
STOXX®
U.S. Quality Growth ETF | |||||||||||||||||||||||||||||||||||
2022 | $75.48 | 0.30 | (15.26) | (14.96) | (0.26) | $60.26 | (19.83)% | 0.29% | 0.45% | 153% | $259,133 | ||||||||||||||||||||||||
2021 | $55.96 | 0.23 | 19.44 | 19.67 | (0.15) | $75.48 | 35.20% | 0.29% | 0.36% | 162% | $258,522 | ||||||||||||||||||||||||
2020 | $41.84 | 0.18 | 14.11 | 14.29 | (0.17) | $55.96 | 34.30% | 0.29% | 0.39% | 180% | $215,439 | ||||||||||||||||||||||||
2019(4) |
$40.15 | 0.18 | 1.64 | 1.82 | (0.13) | $41.84 | 4.57% |
0.29%(5) |
0.48%(5) |
191% | $21,964 |
Notes to Financial Highlights |
For a Share Outstanding Throughout the Years Ended August 31 (except as noted) | |||||||||||||||||||||||||||||||||||
Per-Share Data | Ratios and Supplemental Data | ||||||||||||||||||||||||||||||||||
Income From Investment Operations: | Ratio to Average Net Assets of: | ||||||||||||||||||||||||||||||||||
Net Asset Value, Beginning of Period |
Net
Investment
Income
(Loss)(1) |
Net Realized and Unrealized Gain (Loss) |
Total
From Investment Operations |
Distributions From Net Investment Income | Net Asset Value, End of Period |
Total
Return(2) |
Operating Expenses |
Net Investment Income (Loss) |
Portfolio
Turnover
Rate(3) |
Net
Assets, End of Period (in thousands) | |||||||||||||||||||||||||
STOXX®
U.S. Quality Value ETF | |||||||||||||||||||||||||||||||||||
2022 | $51.82 | 1.19 | (5.14) | (3.95) | (1.06) | $46.81 | (7.70)% | 0.29% | 2.36% | 118% | $203,645 | ||||||||||||||||||||||||
2021 | $38.76 | 0.83 | 13.02 | 13.85 | (0.79) | $51.82 | 36.16% | 0.29% | 1.81% | 147% | $255,219 | ||||||||||||||||||||||||
2020 | $39.21 | 1.02 | (0.47) | 0.55 | (1.00) | $38.76 | 1.55% | 0.29% | 2.66% | 178% | $137,598 | ||||||||||||||||||||||||
2019 | $41.66 | 1.15 | (2.68) | (1.53) | (0.92) | $39.21 | (3.60)% | 0.29% | 2.94% | 190% | $30,391 | ||||||||||||||||||||||||
2018(4) |
$40.37 | 0.55 | 1.11 | 1.66 | (0.37) | $41.66 | 4.16% |
0.29%(5) |
2.17%(5) |
77% | $7,291 |
Notes to Financial Highlights |
Report of Independent Registered Public Accounting Firm |
Individual Fund Constituting the American Century ETF Trust | Statement of Operations | Statements of Changes in Net Assets | Financial Highlights | ||||||||
American Century Low Volatility ETF | For the year ended August 31, 2022 | For the year ended August 31, 2022 and the period from January 12, 2021 (fund inception) through August 31, 2021 | |||||||||
American Century Quality Convertible Securities ETF | For the year ended August 31, 2022 | For the year ended August 31, 2022 and the period from February 16, 2021 (fund inception) through August 31, 2021 | |||||||||
American Century Quality Diversified International ETF | For the year ended August 31, 2022 | For the years ended August 31, 2022 and 2021 | For the years ended August 31, 2022, 2021 and 2020, and the period from September 10, 2018 (fund inception) through August 31, 2019 | ||||||||
American Century Quality Preferred ETF | For the year ended August 31, 2022 | For the year ended August 31, 2022 and the period from February 16, 2021 (fund inception) through August 31, 2021 | |||||||||
American
Century STOXX®
U.S. Quality Growth ETF |
For the year ended August 31, 2022 | For the years ended August 31, 2022 and 2021 | For the years ended August 31, 2022, 2021 and 2020, and the period from September 10, 2018 (fund inception) through August 31, 2019 | ||||||||
American
Century STOXX®
U.S. Quality Value ETF |
For the year ended August 31, 2022 | For the years ended August 31, 2022 and 2021 | For the years ended August 31, 2022, 2021, 2020, and 2019, and the period from January 11, 2018 (fund inception) through August 31, 2018 |
Management |
Name (Year of Birth) |
Position(s) Held with Funds | Length of Time Served | Principal Occupation(s) During Past 5 Years | Number of American Century Portfolios Overseen by Trustee | Other Directorships Held During Past 5 Years | ||||||||||||
Independent Trustees | |||||||||||||||||
Reginald
M. Browne (1968) |
Trustee and Chairman of the Board | Since 2017 (Chairman since 2019) | Principal, GTS Securities (automated capital markets trading firm)(2019 to present); Senior Managing Director, Co Global Head-ETF Group, Cantor Fitzgerald (financial services firm)(2013 to 2019) | 41 | None | ||||||||||||
Jeremy
I. Bulow (1954) |
Trustee | Since 2022 | Professor
of Economics, Stanford University Graduate School of Business (1979 to present) |
75 | None | ||||||||||||
Barry
A. Mendelson (1958) |
Trustee | Since 2017 | Retired | 41 | None | ||||||||||||
Stephen
E. Yates (1948) |
Trustee | Since 2017 | Retired | 105 | None | ||||||||||||
Interested Trustees | |||||||||||||||||
Jonathan
S. Thomas (1963) |
Trustee | Since 2017 | President and Chief Executive Officer, ACC (2007 to present). Also serves as Chief Executive Officer, ACS; Director, ACC and other ACC subsidiaries | 139 | None |
Name
(Year of Birth) |
Offices with the Funds | Principal Occupation(s) During the Past Five Years | ||||||
Patrick
Bannigan (1965) |
President since 2019 | Executive Vice President and Director, ACC (2012 to present); Chief Financial Officer, Chief Accounting Officer and Treasurer, ACC (2015 to present). Also serves as President, ACS; Vice President, ACIM; Chief Financial Officer, Chief Accounting Officer and/or Director, ACIM, ACS and other ACC subsidiaries | ||||||
R.
Wes Campbell (1974) |
Chief Financial Officer and Treasurer since 2018 | Vice President, ACS (2020 to present); Investment Operations and Investment Accounting, ACS (2000 to present) | ||||||
Amy
D. Shelton (1964) |
Chief Compliance Officer and Vice President since 2017 | Chief Compliance Officer, American Century funds, (2014 to present); Chief Compliance Officer, ACIM (2014 to present); Chief Compliance Officer, ACIS (2009 to present). Also serves as Vice President, ACIS | ||||||
John
Pak (1968) |
General
Counsel and Vice President since 2021 |
General Counsel and Senior Vice President, ACC (2021 to present). Also serves as General Counsel and Senior Vice President, ACIM, ACS and ACIS. Chief Legal Officer of Investment and Wealth Management,The Bank of New York Mellon (2014 to 2021) | ||||||
Cleo
Chang (1977) |
Vice
President since 2019 |
Senior
Vice President, ACIM (2015 to present) | ||||||
David
H. Reinmiller (1963) |
Vice President since 2017 | Attorney, ACC (1994 to present). Also serves as Vice President, ACIM and ACS | ||||||
Edward
Rosenberg (1973) |
Vice President since 2017 | Senior Vice President, ACIM (2017 to present); Senior Vice President, Flexshares Head of ETF Capital Markets, Northern Trust (2012 to 2017) | ||||||
C.
Jean Wade (1964) |
Vice President since 2017 | Senior Vice President, ACS (2017 to present); Vice President, ACS (2000 to 2017) | ||||||
Ward
D. Stauffer (1960) |
Secretary since 2019 | Attorney, ACS (2003 to present) |
Approval of Management Agreement |
Liquidity Risk Management Program |
Additional Information |
Low
Volatility ETF |
Quality Convertible Securities ETF | Quality Diversified International ETF | Quality Preferred ETF |
STOXX®
U.S.
Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | ||||||||||||
$98,904 | $326,651 | $11,565 | $716,290 | $911,250 | $4,592,625 |
Low
Volatility ETF |
Quality Convertible Securities ETF | Quality Diversified International ETF | Quality Preferred ETF |
STOXX®
U.S.
Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | ||||||||||||
— | $160,953 | — | $101,725 | — | — |
Low
Volatility ETF |
Quality Convertible Securities ETF | Quality Diversified International ETF | Quality Preferred ETF |
STOXX®
U.S.
Quality Growth ETF |
STOXX®
U.S. Quality Value ETF | ||||||||||||
$11,276 | — | — | — | $102,168 | $509,912 |
Contact Us | americancenturyetfs.com | |||||||
American Century Sales Representatives, Financial Professionals, Broker Dealers, Insurance Companies, Banks and Trust Companies | 1-833-ACI-ETFS | |||||||
Telecommunications Relay Service for the Deaf | 711 | |||||||
American Century ETF Trust | ||||||||
Investment
Advisor:
American
Century Investment Management, Inc.
Kansas
City, Missouri |
||||||||
Distributor:
Foreside
Fund Services, LLC - Distributor, not affiliated with American Century
Investment Services, Inc. |
||||||||
This report and the statements it contains are submitted for the general information of our shareholders. The report is not authorized for distribution to prospective investors unless preceded or accompanied by an effective prospectus. | ||||||||
©2022
American Century Proprietary Holdings, Inc. All rights
reserved. CL-ANN-96948 2210 |