Not
FDIC
or
NCUA
Insured
No
Financial
Institution
Guarantee
May
Lose
Value
STRATEGIC
BETA
ETFs
Semiannual
Report
April
30,
2022
(Unaudited)
Columbia
Sustainable
International
Equity
Income
ETF
Columbia
Sustainable
U.S.
Equity
Income
ETF
Strategic
Beta
ETFs
|
Semiannual
Report
2022
TABLE
OF
CONTENTS
Columbia
Sustainable
International
Equity
Income
ETF
Fund
at
a
Glance
3
Columbia
Sustainable
U.S.
Equity
Income
ETF
Fund
at
a
Glance
5
Understanding
Your
Fund’s
Expenses
7
Portfolio
of
Investments
8
Statement
of
Assets
and
Liabilities
14
Statement
of
Operations
15
Statement
of
Changes
in
Net
Assets
16
Financial
Highlights
17
Notes
to
Financial
Statements
19
Liquidity
Risk
Management
Program
27
Additional
Information
28
FUND
AT
A
GLANCE
Columbia
Sustainable
International
Equity
Income
ETF
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
3
Portfolio
management
Christopher
Lo,
CFA
Lead
Portfolio
Manager
Managed
Fund
since
2016
Michael
Barclay,
CFA
Portfolio
Manager
Managed
Fund
since
2018
Investment
objective
Columbia
Sustainable
International
Equity
Income
ETF
(the
Fund)
seeks
investment
results
that,
before
fees
and
expenses,
closely
correspond
to
the
performance
of
the
Beta
Advantage
®
Sustainable
International
Equity
Income
100
Index
(Net).
All
results
shown
assume
reinvestment
of
distributions
during
the
period.
Returns
do
not
reflect
the
deduction
of
taxes
that
a
shareholder
may
pay
on
Fund
distributions
or
on
the
redemption
of
Fund
shares.
Performance
results
reflect
the
effect
of
any
fee
waivers
or
reimbursements
of
Fund
expenses
by
Columbia
Management
Investment
Advisers,
LLC
and/or
any
of
its
affiliates.
Absent
these
fee
waivers
or
expense
reimbursement
arrangements,
performance
results
would
have
been
lower.
The
performance
information
shown
represents
past
performance
and
is
not
a
guarantee
of
future
results.
The
investment
return
and
principal
value
of
your
investment
will
fluctuate
so
that
your
shares,
when
redeemed,
may
be
worth
more
or
less
than
their
original
cost.
Current
performance
may
be
lower
or
higher
than
the
performance
information
shown.
You
may
obtain
performance
information
current
to
the
most
recent
month-end
by
visiting
columbiathreadneedleus.com/etfs.
Through
July
31,
2020,
Market
Price
returns
are
based
on
the
midpoint
of
the
bid/ask
spread
for
Fund
shares
at
market
close
(typically
4
pm
ET).
Beginning
with
August
31,
2020
month-end
performance,
Market
Price
returns
are
based
on
closing
prices
reported
by
the
Fund's
primary
listing
exchange
(typically
4
pm
ET
close).
These
returns
do
not
represent
the
returns
an
investor
would
receive
if
shares
were
traded
at
other
times.
The
Fund’s
shares
may
trade
above
or
below
their
net
asset
value.
The
net
asset
value
of
the
Fund
will
generally
fluctuate
with
changes
in
the
market
value
of
the
Fund’s
holdings.
The
market
prices
of
shares,
however,
will
generally
fluctuate
in
accordance
with
changes
in
net
asset
value
as
well
as
the
relative
supply
of,
and
demand
for,
shares
on
the
exchange.
The
trading
price
of
shares
may
deviate
significantly
from
the
net
asset
value.
The
Beta
Advantage
®
Sustainable
International
Equity
Income
100
Index
(Net)
is
designed
to
reflect
the
performance
of
the
top
100
(developed
markets)
foreign
large-
and
mid-cap
companies
(excluding
real
estate
investment
trusts)
using
a
subset
of
the
MSCI
World
ex
USA
Index,
ranked
and
weighted
according
to
a
composite
factor
score
determined
through
the
application
of
a
systematic,
rules-based
methodology
applied
by
MSCI.
The
MSCI
World
ex
USA
Value
Index
(Net)
is
a
free
float-adjusted
market
capitalization
weighted
index
that
is
designed
to
measure
the
equity
market
performance
of
developed
markets
that
have
value
characteristics.
The
Index
consists
of
the
following
23
developed
market
country
indices:
Australia,
Austria,
Belgium,
Canada,
Denmark,
Finland,
France,
Germany,
Greece,
Hong
Kong,
Ireland,
Israel,
Italy,
Japan,
Netherlands,
New
Zealand,
Norway,
Portugal,
Singapore,
Spain,
Sweden,
Switzerland
and
the
United
Kingdom.
Indices
are
not
available
for
investment,
are
not
professionally
managed
and
do
not
reflect
sales
charges,
fees,
brokerage
commissions,
taxes
(except
the
Beta
Advantage
®
Sustainable
International
Equity
Income
100
Index
(Net)
and
the
MSCI
World
ex
USA
Value
Index
(Net)
which
reflects
reinvested
dividends
net
of
withholding
taxes)
or
other
expenses
of
investing.
Securities
in
the
Fund
may
not
match
those
in
an
index.
Average
annual
total
returns
(%)
(for
period
ended
April
30,
2022)
Inception
6
Months
cumulative
1
Year
5
Years
Life
Market
Price
06/13/16
-3.96
-3.41
3.32
6.29
Net
Asset
Value
06/13/16
-2.57
-2.66
3.01
5.52
{
Beta
Advantage
}
®
Sustainable
International
Equity
Income
100
Index
(Net)
-2.37
-1.99
3.61
6.16
MSCI
World
ex
USA
Value
Index
(Net)
-3.84
-1.34
3.46
5.78
FUND
AT
A
GLANCE
(continued)
Columbia
Sustainable
International
Equity
Income
ETF
(Unaudited)
4
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Country
breakdown
(%)
(at
April
30,
2022
)
Australia
10
.9
Austria
0
.7
Canada
7
.6
China
0
.5
Denmark
0
.9
Finland
1
.9
France
6
.7
Hong
Kong
5
.7
Ireland
1
.6
Italy
4
.0
Japan
39
.4
Netherlands
3
.4
Singapore
2
.1
Spain
3
.5
Sweden
3
.7
United
Kingdom
6
.9
United
States
(a)
0
.5
Total
100
.0
Country
Breakdown
is
based
primarily
on
issuer’s
place
of
organization/incorporation.
Percentages
indicated
are
based
upon
total
investments
and
excludes
investments
in
derivatives,
if
any.
The
Fund’s
portfolio
composition
is
subject
to
change.
(a)
Includes
investments
in
Money
Market
Funds.
Equity
sector
breakdown
(%)
(at
April
30,
2022)
Industrials
18
.7
Financials
14
.7
Materials
10
.9
Consumer
Staples
8
.7
Communication
Services
8
.5
Information
Technology
8
.2
Utilities
7
.9
Real
Estate
7
.5
Health
Care
6
.4
Energy
4
.5
Consumer
Discretionary
4
.0
Total
100
.0
Percentages
indicated
are
based
upon
total
equity
investments.
The
Fund’s
portfolio
composition
is
subject
to
change.
FUND
AT
A
GLANCE
Columbia
Sustainable
U.S.
Equity
Income
ETF
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
5
Portfolio
management
Christopher
Lo,
CFA
Lead
Portfolio
Manager
Managed
Fund
since
2016
Michael
Barclay,
CFA
Portfolio
Manager
Managed
Fund
since
2018
Investment
objective
Columbia
Sustainable
U.S.
Equity
Income
ETF
(the
Fund)
seeks
investment
results
that,
before
fees
and
expenses,
closely
correspond
to
the
performance
of
the
Beta
Advantage
®
Sustainable
U.S.
Equity
Income
100
Index
(Gross).
All
results
shown
assume
reinvestment
of
distributions
during
the
period.
Returns
do
not
reflect
the
deduction
of
taxes
that
a
shareholder
may
pay
on
Fund
distributions
or
on
the
redemption
of
Fund
shares.
Performance
results
reflect
the
effect
of
any
fee
waivers
or
reimbursements
of
Fund
expenses
by
Columbia
Management
Investment
Advisers,
LLC
and/or
any
of
its
affiliates.
Absent
these
fee
waivers
or
expense
reimbursement
arrangements,
performance
results
would
have
been
lower.
The
performance
information
shown
represents
past
performance
and
is
not
a
guarantee
of
future
results.
The
investment
return
and
principal
value
of
your
investment
will
fluctuate
so
that
your
shares,
when
redeemed,
may
be
worth
more
or
less
than
their
original
cost.
Current
performance
may
be
lower
or
higher
than
the
performance
information
shown.
You
may
obtain
performance
information
current
to
the
most
recent
month-end
by
visiting
columbiathreadneedleus.com/etfs.
Through
July
31,
2020,
Market
Price
returns
are
based
on
the
midpoint
of
the
bid/ask
spread
for
Fund
shares
at
market
close
(typically
4
pm
ET).
Beginning
with
August
31,
2020
month-end
performance,
Market
Price
returns
are
based
on
closing
prices
reported
by
the
Fund's
primary
listing
exchange
(typically
4
pm
ET
close).
These
returns
do
not
represent
the
returns
an
investor
would
receive
if
shares
were
traded
at
other
times.
The
Fund’s
shares
may
trade
above
or
below
their
net
asset
value.
The
net
asset
value
of
the
Fund
will
generally
fluctuate
with
changes
in
the
market
value
of
the
Fund’s
holdings.
The
market
prices
of
shares,
however,
will
generally
fluctuate
in
accordance
with
changes
in
net
asset
value
as
well
as
the
relative
supply
of,
and
demand
for,
shares
on
the
exchange.
The
trading
price
of
shares
may
deviate
significantly
from
the
net
asset
value.
The
Beta
Advantage
®
Sustainable
U.S.
Equity
Income
100
Index
(Gross)
is
designed
to
reflect
the
performance
of
the
top
100
U.S.
large-cap
and
mid-cap
companies
(excluding
real
estate
investment
trusts)
using
a
subset
of
the
MSCI
USA
Index,
ranked
and
weighted
according
to
a
composite
factor
score
determined
through
the
application
of
a
systematic,
rules-based
methodology
applied
by
MSCI.
The
MSCI
USA
Value
Index
(Gross)
captures
large-cap
and
mid-cap
US
securities
exhibiting
overall
value
style
characteristics.
The
value
investment
style
characteristics
for
index
construction
are
defined
using
three
variables:
book
value
to
price,
12-month
forward
earnings
to
price
and
dividend
yield.
Indices
are
not
available
for
investment,
are
not
professionally
managed
and
do
not
reflect
sales
charges,
fees,
brokerage
commissions,
taxes
or
other
expenses
of
investing.
Securities
in
the
Fund
may
not
match
those
in
an
index.
Average
annual
total
returns
(%)
(for
period
ended
April
30,
2022)
Inception
6
Months
cumulative
1
Year
5
Years
Life
Market
Price
06/13/16
2.09
6.12
11.00
12.94
Net
Asset
Value
06/13/16
2.20
6.31
10.96
12.88
{
Beta
Advantage
}
®
Sustainable
U.S.
Equity
Income
100
Index
(Gross)
2.42
6.75
11.38
13.31
MSCI
USA
Value
Index
(Gross)
-2.56
4.12
9.40
10.46
FUND
AT
A
GLANCE
(continued)
Columbia
Sustainable
U.S.
Equity
Income
ETF
(Unaudited)
6
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Portfolio
breakdown
(%)
(at
April
30,
2022
)
Common
Stocks
99.7
Money
Market
Funds
0.3
Total
Investments
100.0
Percentages
indicated
are
based
upon
total
investments.
The
Fund’s
portfolio
composition
is
subject
to
change.
Equity
sector
breakdown
(%)
(at
April
30,
2022)
Industrials
15
.4
Financials
13
.6
Information
Technology
11
.5
Utilities
11
.4
Energy
9
.7
Health
Care
9
.3
Consumer
Staples
9
.1
Materials
8
.9
Consumer
Discretionary
7
.1
Communication
Services
4
.0
Total
100
.0
Percentages
indicated
are
based
upon
total
equity
investments.
The
Fund’s
portfolio
composition
is
subject
to
change.
UNDERSTANDING
YOUR
FUND’S
EXPENSES
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
7
As
a
shareholder
of
a
Fund,
you
incur
ongoing
costs,
including
investment
management
fees.
The
following
example
is
intended
to
help
you
understand
your
ongoing
costs
(in
dollars
and
cents)
of
investing
in
a
fund
and
to
compare
these
costs
with
the
ongoing
costs
of
investing
in
other
funds.
The
examples
are
based
on
an
initial
investment
of
$1,000
invested
at
the
beginning
of
the
period
and
held
for
the
period
ended
April
30,
2022.
Actual
Expenses
The
information
under
each
column
in
the
table
below
entitled
“Actual”
provides
information
about
actual
account
values
and
actual
expenses.
You
may
use
the
information
in
these
columns,
together
with
the
amount
you
invested,
to
estimate
the
expenses
that
you
paid
over
the
period.
Simply
divide
your
account
value
by
$1,000
(for
example,
an
$8,600
account
value
divided
by
$1,000
=
8.6),
then
multiply
the
result
by
the
number
for
your
Fund
under
the
heading
entitled
“Expenses
paid
for
the
period”
to
estimate
the
expenses
you
paid
on
your
account
during
this
period.
Hypothetical
Example
For
Comparison
Purposes
The
information
under
each
column
in
the
table
entitled
“Hypothetical”
provides
information
about
hypothetical
account
values
and
hypothetical
expenses
based
on
each
Fund’s
actual
expense
ratio
and
an
assumed
rate
of
return
of
5%
per
year
before
expenses,
which
is
not
the
Fund’s
actual
return.
The
hypothetical
account
values
and
expenses
may
not
be
used
to
estimate
the
actual
ending
account
balance
or
expenses
you
paid
for
the
period.
You
may
use
this
information
to
compare
the
ongoing
costs
of
investing
in
your
Fund
and
other
funds.
To
do
so,
compare
this
5%
hypothetical
example
with
the
5%
hypothetical
examples
that
appear
in
the
shareholder
reports
of
the
other
funds.
Please
note
that
the
expenses
shown
in
the
table
are
meant
to
highlight
your
ongoing
costs
only
and
do
not
reflect
any
transactional
costs,
such
as
brokerage
commissions
paid
on
purchases
and
sales
of
Fund
shares.
Therefore,
the
ending
account
values
and
expenses
paid
for
the
period
in
the
table
is
useful
in
comparing
ongoing
Fund
costs
only
and
will
not
help
you
determine
the
relative
total
costs
of
owning
different
funds.
In
addition,
if
these
transactional
costs
were
included,
your
costs
would
have
been
higher.
Expenses
are
calculated
using
the
Fund’s
annualized
expense
ratio,
multiplied
by
the
average
account
value
over
the
period,
then
multiplied
by
the
number
of
days
in
the
Fund’s
most
recent
fiscal
half-year
and
divided
by
365.
Expenses
do
not
include
fees
and
expenses
incurred
indirectly
by
the
Fund
from
its
investment
in
underlying
funds,
including
affiliated
and
non-
affiliated
pooled
investment
vehicles,
such
as
mutual
funds
and
exchange-traded
funds.
November
1,
2021
—
April
30,
2022
Beginning
account
value
($)
Ending
account
value
($)
Expense
paid
for
the
period
($)
Annualized
expense
ratios
for
the
period
(%)
Actual
Hypothetical
Actual
Hypothetical
Actual
Hypothetical
Actual
Columbia
Sustainable
International
Equity
Income
ETF
1,000.00
1,000.00
974.30
1,022.56
2.20
2.26
0.45
Columbia
Sustainable
U.S.
Equity
Income
ETF
1,000.00
1,000.00
1,022.00
1,023.06
1.75
1.76
0.35
PORTFOLIO
OF
INVESTMENTS
Columbia
Sustainable
International
Equity
Income
ETF
April
30,
2022
(Unaudited)
(Percentages
represent
value
of
investments
compared
to
net
assets)
Investments
in
Securities
8
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Common
Stocks
98.6%
Issuer
Shares
Value
($)
Australia  10.8%
Aurizon
Holdings
Ltd.
21,096
60,417
Australia
&
New
Zealand
Banking
Group
Ltd.
3,300
64,023
BHP
Group
Ltd.
2,122
72,399
BlueScope
Steel
Ltd.
2,380
34,740
Newcrest
Mining
Ltd.
4,241
81,013
Ramsay
Health
Care
Ltd.
1,290
74,357
Sonic
Healthcare
Ltd.
1,751
45,705
South32
Ltd.
9,080
30,779
Telstra
Corp.
Ltd.
10,873
31,217
Westpac
Banking
Corp.
3,850
65,309
Total
559,959
Austria  0.7%
voestalpine
AG
1,274
33,681
Canada  7.6%
Algonquin
Power
&
Utilities
Corp.
4,917
71,559
Barrick
Gold
Corp.
1,279
28,671
Canadian
Tire
Corp.
Ltd.
Class
A
245
33,921
George
Weston
Ltd.
427
53,396
Magna
International,
Inc.
377
22,838
Manulife
Financial
Corp.
2,562
50,356
Open
Text
Corp.
869
34,983
Parkland
Corp.
1,511
43,141
Quebecor,
Inc.
Class
B
2,201
52,061
Total
390,926
China  0.5%
BOC
Hong
Kong
Holdings
Ltd.
7,576
27,664
Denmark  0.9%
AP
Moller
-
Maersk
A/S
Class
A
16
45,835
Finland  1.9%
Fortum
OYJ
2,578
43,243
Kesko
OYJ
Class
B
2,183
55,340
Total
98,583
France  6.6%
Carrefour
SA
4,083
86,837
Edenred
1,120
56,761
Publicis
Groupe
SA
867
52,665
SEB
SA
238
28,799
Thales
SA
600
77,223
Vinci
SA
405
39,666
Total
341,951
Hong
Kong  5.6%
AIA
Group
Ltd.
2,462
24,397
CLP
Holdings
Ltd.
3,857
37,606
HKT
Trust
&
HKT
Ltd.
36,661
52,612
Sino
Land
Co.
Ltd.
57,210
76,123
Sun
Hung
Kai
Properties
Ltd.
5,761
66,780
Swire
Properties
Ltd.
13,313
32,204
Total
289,722
Ireland  1.6%
CRH
PLC
874
35,203
Smurfit
Kappa
Group
PLC
1,134
48,666
Total
83,869
Italy  3.9%
Enel
SpA
8,167
53,573
Prysmian
SpA
1,057
34,813
Snam
SpA
13,546
74,653
Terna
-
Rete
Elettrica
Nazionale
4,904
40,177
Total
203,216
Japan  39.0%
Asahi
Group
Holdings
Ltd.
1,315
49,358
Astellas
Pharma,
Inc.
4,412
67,358
Common
Stocks
(continued)
Issuer
Shares
Value
($)
Bridgestone
Corp.
1,011
37,199
Brother
Industries
Ltd.
4,161
72,712
Chiba
Bank
Ltd.
(The)
6,289
36,357
Daiwa
House
Industry
Co.
Ltd.
1,649
40,003
ENEOS
Holdings,
Inc.
20,650
72,712
FUJIFILM
Holdings
Corp.
502
27,793
Hitachi
Ltd.
1,009
47,288
Honda
Motor
Co.
Ltd.
1,776
46,867
Hulic
Co.
Ltd.
7,260
61,527
Inpex
Corp.
5,289
62,541
ITOCHU
Corp.
2,389
72,504
Japan
Post
Holdings
Co.
Ltd.
7,911
55,657
KDDI
Corp.
1,270
42,493
Lawson,
Inc.
1,848
68,038
Lixil
Corp.
2,925
51,790
Marubeni
Corp.
7,866
86,365
Mitsubishi
Chemical
Holdings
Corp.
10,206
62,468
Mitsubishi
Corp.
1,526
51,624
Mitsui
Chemicals,
Inc.
2,837
65,144
NEC
Corp.
1,449
56,479
Nippon
Telegraph
&
Telephone
Corp.
1,256
37,294
Nomura
Real
Estate
Holdings,
Inc.
2,845
69,280
Osaka
Gas
Co.
Ltd.
2,146
38,842
Persol
Holdings
Co.
Ltd.
1,511
30,253
Resona
Holdings,
Inc.
11,334
49,418
Ricoh
Co.
Ltd.
8,466
62,142
Santen
Pharmaceutical
Co.
Ltd.
5,178
42,484
Sompo
Holdings,
Inc.
1,179
48,094
Sumitomo
Chemical
Co.
Ltd.
14,591
62,053
Sumitomo
Corp.
4,958
78,890
Sumitomo
Mitsui
Financial
Group,
Inc.
1,331
40,220
Sumitomo
Mitsui
Trust
Holdings,
Inc.
1,213
37,740
Sumitomo
Pharma
Co.
Ltd.
4,467
39,891
Sumitomo
Realty
&
Development
Co.
Ltd.
1,352
35,835
T&D
Holdings,
Inc.
3,943
50,824
Toyota
Tsusho
Corp.
1,640
59,430
Total
2,016,967
Netherlands  3.4%
Koninklijke
Ahold
Delhaize
NV
2,630
77,937
NN
Group
NV
1,319
65,316
Wolters
Kluwer
NV
299
30,464
Total
173,717
Singapore  2.1%
Singapore
Technologies
Engineering
Ltd.
16,811
49,913
Venture
Corp.
Ltd.
4,625
57,440
Total
107,353
Spain  3.5%
Grifols
SA
3,341
56,394
Iberdrola
SA
3,636
42,232
Telefonica
SA
16,336
79,844
Total
178,470
Sweden  3.6%
Investor
AB
Class
A
1,832
38,760
Lundin
Energy
AB
1,249
52,290
SKF
AB
Class
B
2,954
48,970
Telefonaktiebolaget
LM
Ericsson
Class
B
5,930
48,047
Total
188,067
United
Kingdom  6.9%
3i
Group
PLC
1,677
27,897
Aviva
PLC
12,282
66,815
Berkeley
Group
Holdings
PLC
(a)
627
32,118
Bunzl
PLC
923
35,958
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Sustainable
International
Equity
Income
ETF
April
30,
2022
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
9
Notes
to
Portfolio
of
Investments
Common
Stocks
(continued)
Issuer
Shares
Value
($)
DCC
PLC
695
53,035
J
Sainsbury
PLC
17,324
50,743
Vodafone
Group
PLC
36,848
56,227
WPP
PLC
2,463
31,077
Total
353,870
Total
Common
Stocks
(Cost
$5,068,908)
5,093,850
Money
Market
Funds
0.5%
Issuer
Shares
Value
($)
Goldman
Sachs
Financial
Square
Funds
-
Treasury
Instruments
Fund,
Institutional
Shares,
0.345%
(b)
24,188
24,188
Total
Money
Market
Funds
(Cost
$24,188)
24,188
Total
Investments
in
Securities
(Cost
$5,093,096)
5,118,038
Other
Assets
&
Liabilities,
Net
48,619
Net
Assets
5,166,657
(a)
Non-income
producing
investment.
(b)
The
rate
shown
is
the
seven-day
current
annualized
yield
at
April
30,
2022.
Fair
Value
Measurements
The
Fund
categorizes
its
fair
value
measurements
according
to
a
three-level
hierarchy
that
maximizes
the
use
of
observable
inputs
and
minimizes
the
use
of
unobservable
inputs
by
prioritizing
that
the
most
observable
input
be
used
when
available.
Observable
inputs
are
those
that
market
participants
would
use
in
pricing
an
investment
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
are
those
that
reflect
the
Fund’s
assumptions
about
the
information
market
participants
would
use
in
pricing
an
investment.
An
investment’s
level
within
the
fair
value
hierarchy
is
based
on
the
lowest
level
of
any
input
that
is
deemed
significant
to
the
asset's
or
liability’s
fair
value
measurement.
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
investments
at
that
level.
For
example,
certain
U.S.
government
securities
are
generally
high
quality
and
liquid,
however,
they
are
reflected
as
Level
2
because
the
inputs
used
to
determine
fair
value
may
not
always
be
quoted
prices
in
an
active
market.
Fair
value
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1
—
Valuations
based
on
quoted
prices
for
investments
in
active
markets
that
the
Fund
has
the
ability
to
access
at
the
measurement
date.
Valuation
adjustments
are
not
applied
to
Level
1
investments.
Level
2
—
Valuations
based
on
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risks,
etc.).
Level
3
—
Valuations
based
on
significant
unobservable
inputs
(including
the
Fund’s
own
assumptions
and
judgment
in
determining
the
fair
value
of
investments).
Inputs
that
are
used
in
determining
fair
value
of
an
investment
may
include
price
information,
credit
data,
volatility
statistics,
and
other
factors.
These
inputs
can
be
either
observable
or
unobservable.
The
availability
of
observable
inputs
can
vary
between
investments,
and
is
affected
by
various
factors
such
as
the
type
of
investment,
and
the
volume
and
level
of
activity
for
that
investment
or
similar
investments
in
the
marketplace.
The
inputs
will
be
considered
by
the
Investment
Manager,
along
with
any
other
relevant
factors
in
the
calculation
of
an
investment’s
fair
value.
The
Fund
uses
prices
and
inputs
that
are
current
as
of
the
measurement
date,
which
may
include
periods
of
market
dislocations.
During
these
periods,
the
availability
of
prices
and
inputs
may
be
reduced
for
many
investments.
This
condition
could
cause
an
investment
to
be
reclassified
between
the
various
levels
within
the
hierarchy.
Investments
falling
into
the
Level
3
category
are
primarily
supported
by
quoted
prices
from
brokers
and
dealers
participating
in
the
market
for
those
investments.
However,
these
may
be
classified
as
Level
3
investments
due
to
lack
of
market
transparency
and
corroboration
to
support
these
quoted
prices.
Additionally,
valuation
models
may
be
used
as
the
pricing
source
for
any
remaining
investments
classified
as
Level
3.
These
models
may
rely
on
one
or
more
significant
unobservable
inputs
and/or
significant
assumptions
by
the
Investment
Manager.
Inputs
used
in
valuations
may
include,
but
are
not
limited
to,
financial
statement
analysis,
capital
account
balances,
discount
rates
and
estimated
cash
flows,
and
comparable
company
data.
Under
the
direction
of
the
Fund’s
Board
of
Trustees
(the
Board),
the
Investment
Manager’s
Valuation
Committee
(the
Committee)
is
responsible
for
overseeing
the
valuation
procedures
approved
by
the
Board.
The
Committee
consists
of
voting
and
non-voting
members
from
various
groups
within
the
Investment
Manager’s
organization,
including
operations
and
accounting,
trading
and
investments,
compliance,
risk
management
and
legal.
The
Committee
meets
at
least
monthly
to
review
and
approve
valuation
matters,
which
may
include
a
description
of
specific
valuation
determinations,
data
regarding
pricing
information
received
from
approved
pricing
vendors
and
brokers
and
the
results
of
Board-approved
valuation
control
policies
and
procedures
(the
Policies).
The
Policies
address,
among
other
things,
instances
when
market
quotations
are
or
are
not
readily
available,
including
recommendations
of
third
party
pricing
vendors
and
a
determination
of
appropriate
pricing
methodologies;
events
that
require
specific
valuation
determinations
and
assessment
of
fair
value
techniques;
securities
with
a
potential
for
stale
pricing,
including
those
that
are
illiquid,
restricted,
or
in
default;
and
the
effectiveness
of
third-party
pricing
vendors,
including
periodic
reviews
of
vendors.
The
Committee
meets
more
frequently,
as
needed,
to
discuss
additional
valuation
matters,
which
may
include
the
need
to
review
back-testing
results,
review
time-
sensitive
information
or
approve
related
valuation
actions.
The
Committee
reports
to
the
Board,
with
members
of
the
Committee
meeting
with
the
Board
at
each
of
its
regularly
scheduled
meetings
to
discuss
valuation
matters
and
actions
during
the
period,
similar
to
those
described
earlier.
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Sustainable
International
Equity
Income
ETF
April
30,
2022
(Unaudited)
10
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Fair
Value
Measurements
(continued)
The
following
table
is
a
summary
of
the
inputs
used
to
value
the
Fund’s
investments
at
April
30,
2022:
Level
1
($)
Level
2
($)
Level
3
($)
Total
($)
Investments
in
Securities
Common
Stocks
Australia
559,959
–
–
559,959
Austria
33,681
–
–
33,681
Canada
390,926
–
–
390,926
China
27,664
–
–
27,664
Denmark
45,835
–
–
45,835
Finland
98,583
–
–
98,583
France
341,951
–
–
341,951
Hong
Kong
289,722
–
–
289,722
Ireland
83,869
–
–
83,869
Italy
203,216
–
–
203,216
Japan
2,016,967
–
–
2,016,967
Netherlands
173,717
–
–
173,717
Singapore
107,353
–
–
107,353
Spain
178,470
–
–
178,470
Sweden
188,067
–
–
188,067
United
Kingdom
353,870
–
–
353,870
Total
Common
Stocks
5,093,850
–
–
5,093,850
Money
Market
Funds
24,188
–
–
24,188
Total
Investments
in
Securities
5,118,038
–
–
5,118,038
See
the
Portfolio
of
Investments
for
all
investment
classifications
not
indicated
in
the
table.
PORTFOLIO
OF
INVESTMENTS
Columbia
Sustainable
U.S.
Equity
Income
ETF
April
30,
2022
(Unaudited)
(Percentages
represent
value
of
investments
compared
to
net
assets)
Investments
in
Securities
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
Strategic
Beta
ETFs
|
Semiannual
Report
2022
11
Common
Stocks
99.6%
Issuer
Shares
Value
($)
Communication
Services  4.0%
Diversified
Telecommunication
Services
1.4%
Lumen
Technologies,
Inc.
39,336
395,720
Media
2.6%
Interpublic
Group
of
Cos.,
Inc.
(The)
8,330
271,725
Paramount
Global
Class
B
5,951
173,293
Sirius
XM
Holdings,
Inc.
46,160
276,960
Total
721,978
Total
Communication
Services
1,117,698
Consumer
Discretionary  7.1%
Auto
Components
0.5%
BorgWarner,
Inc.
3,513
129,384
Distributors
0.9%
Genuine
Parts
Co.
1,993
259,190
Household
Durables
1.7%
PulteGroup,
Inc.
4,269
178,273
Whirlpool
Corp.
1,671
303,320
Total
481,593
Multiline
Retail
1.1%
Target
Corp.
1,302
297,702
Specialty
Retail
2.9%
Advance
Auto
Parts,
Inc.
1,486
296,650
Best
Buy
Co.,
Inc.
4,152
373,389
Lowe's
Cos.,
Inc.
713
140,982
Total
811,021
Total
Consumer
Discretionary
1,978,890
Consumer
Staples  9.1%
Food
&
Staples
Retailing
2.6%
Kroger
Co.
(The)
6,519
351,765
Walgreens
Boots
Alliance,
Inc.
8,519
361,206
Total
712,971
Food
Products
5.9%
Campbell
Soup
Co.
7,964
376,060
Conagra
Brands,
Inc.
11,028
385,208
General
Mills,
Inc.
4,524
319,982
JM
Smucker
Co.
(The)
2,520
345,064
Tyson
Foods,
Inc.
Class
A
2,500
232,900
Total
1,659,214
Household
Products
0.6%
Church
&
Dwight
Co.,
Inc.
1,714
167,218
Total
Consumer
Staples
2,539,403
Energy  9.7%
Energy
Equipment
&
Services
0.7%
Baker
Hughes
Co.
5,732
177,807
Oil,
Gas
&
Consumable
Fuels
9.0%
Chevron
Corp.
1,950
305,506
ConocoPhillips
1,856
177,285
Devon
Energy
Corp.
4,545
264,383
EOG
Resources,
Inc.
2,907
339,421
Exxon
Mobil
Corp.
2,831
241,343
Kinder
Morgan,
Inc.
24,981
453,405
Valero
Energy
Corp.
2,747
306,236
Williams
Cos.,
Inc.
(The)
12,543
430,099
Total
2,517,678
Total
Energy
2,695,485
Financials  13.5%
Banks
3.2%
Bank
of
America
Corp.
4,112
146,716
Citigroup,
Inc.
6,135
295,768
Citizens
Financial
Group,
Inc.
4,587
180,728
JPMorgan
Chase
&
Co.
2,262
269,992
Total
893,204
Common
Stocks
(continued)
Issuer
Shares
Value
($)
Capital
Markets
3.9%
Bank
of
New
York
Mellon
Corp.
(The)
3,274
137,704
Goldman
Sachs
Group,
Inc.
(The)
981
299,686
Morgan
Stanley
3,580
288,512
Raymond
James
Financial,
Inc.
1,789
174,356
State
Street
Corp.
2,640
176,801
Total
1,077,059
Consumer
Finance
1.0%
Ally
Financial,
Inc.
7,406
295,944
Insurance
5.4%
Aflac,
Inc.
5,745
329,074
Allstate
Corp.
(The)
3,257
412,141
Hartford
Financial
Services
Group,
Inc.
(The)
3,236
226,293
Lincoln
National
Corp.
3,719
223,698
Prudential
Financial,
Inc.
2,847
308,928
Total
1,500,134
Total
Financials
3,766,341
Health
Care  9.2%
Biotechnology
3.2%
AbbVie,
Inc.
2,148
315,498
Amgen,
Inc.
1,241
289,389
Gilead
Sciences,
Inc.
5,018
297,768
Total
902,655
Health
Care
Providers
&
Services
6.0%
AmerisourceBergen
Corp.
1,254
189,718
Anthem,
Inc.
496
248,957
Cardinal
Health,
Inc.
5,904
342,727
Cigna
Corp.
1,569
387,198
CVS
Health
Corp.
2,245
215,812
Quest
Diagnostics,
Inc.
2,118
283,473
Total
1,667,885
Total
Health
Care
2,570,540
Industrials  15.3%
Aerospace
&
Defense
3.9%
Huntington
Ingalls
Industries,
Inc.
2,297
488,664
L3Harris
Technologies,
Inc.
1,298
301,473
Northrop
Grumman
Corp.
650
285,610
Total
1,075,747
Building
Products
4.8%
A
O
Smith
Corp.
2,117
123,696
Allegion
PLC
1,626
185,754
Fortune
Brands
Home
&
Security,
Inc.
2,120
151,050
Lennox
International,
Inc.
836
178,227
Masco
Corp.
4,561
240,319
Owens
Corning
3,649
331,804
Trane
Technologies
PLC
1,022
142,968
Total
1,353,818
Machinery
3.1%
Cummins,
Inc.
1,468
277,731
Parker-Hannifin
Corp.
614
166,283
Snap-on,
Inc.
1,934
410,956
Total
854,970
Professional
Services
3.5%
Booz
Allen
Hamilton
Holding
Corp.
5,321
434,353
Leidos
Holdings,
Inc.
3,597
372,326
Robert
Half
International,
Inc.
1,736
170,666
Total
977,345
Total
Industrials
4,261,880
Information
Technology  11.4%
Communications
Equipment
0.5%
Motorola
Solutions,
Inc.
668
142,745
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Sustainable
U.S.
Equity
Income
ETF
April
30,
2022
(Unaudited)
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
12
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Notes
to
Portfolio
of
Investments
Common
Stocks
(continued)
Issuer
Shares
Value
($)
Electronic
Equipment,
Instruments
&
Components
0.6%
CDW
Corp.
1,073
175,092
IT
Services
4.6%
Accenture
PLC
Class
A
450
135,162
Cognizant
Technology
Solutions
Corp.
Class
A
3,153
255,078
Fidelity
National
Information
Services,
Inc.
3,149
312,223
International
Business
Machines
Corp.
2,315
306,066
Western
Union
Co.
(The)
15,517
260,065
Total
1,268,594
Semiconductors
&
Semiconductor
Equipment
1.8%
Intel
Corp.
8,398
366,069
Skyworks
Solutions,
Inc.
1,317
149,216
Total
515,285
Software
2.4%
Citrix
Systems,
Inc.
2,047
204,905
NortonLifeLock,
Inc.
7,791
195,086
Oracle
Corp.
3,742
274,663
Total
674,654
Technology
Hardware,
Storage
&
Peripherals
1.5%
HP,
Inc.
11,218
410,916
Total
Information
Technology
3,187,286
Materials  8.9%
Chemicals
3.7%
Celanese
Corp.
1,586
233,047
Eastman
Chemical
Co.
3,190
327,517
LyondellBasell
Industries
NV
Class
A
2,845
301,655
PPG
Industries,
Inc.
1,405
179,826
Total
1,042,045
Containers
&
Packaging
3.6%
International
Paper
Co.
8,267
382,597
Sealed
Air
Corp.
3,727
239,311
Westrock
Co.
7,738
383,263
Total
1,005,171
Common
Stocks
(continued)
Issuer
Shares
Value
($)
Metals
&
Mining
1.6%
Newmont
Corp.
5,945
433,093
Total
Materials
2,480,309
Utilities  11.4%
Electric
Utilities
4.7%
Alliant
Energy
Corp.
3,074
180,782
Edison
International
6,951
478,159
Entergy
Corp.
3,841
456,503
Exelon
Corp.
4,328
202,464
Total
1,317,908
Gas
Utilities
2.2%
Atmos
Energy
Corp.
2,360
267,624
UGI
Corp.
9,986
342,520
Total
610,144
Independent
Power
and
Renewable
Electricity
Producers
1.1%
AES
Corp.
(The)
15,234
311,079
Multi-Utilities
2.8%
NiSource,
Inc.
11,944
347,809
Sempra
Energy
2,636
425,345
Total
773,154
Water
Utilities
0.6%
American
Water
Works
Co.,
Inc.
988
152,231
Total
Utilities
3,164,516
Total
Common
Stocks
(Cost
$27,179,643)
27,762,348
Issuer
Shares
Value
($)
Money
Market
Funds
0.3%
Goldman
Sachs
Financial
Square
Funds
-
Treasury
Instruments
Fund,
Institutional
Shares,
0.345%
(a)
88,544
88,544
Total
Money
Market
Funds
(Cost
$88,544)
88,544
Total
Investments
in
Securities
(Cost
$27,268,187)
27,850,892
Other
Assets
&
Liabilities,
Net
37,671
Net
Assets
27,888,563
(a)
The
rate
shown
is
the
seven-day
current
annualized
yield
at
April
30,
2022.
Fair
Value
Measurements
The
Fund
categorizes
its
fair
value
measurements
according
to
a
three-level
hierarchy
that
maximizes
the
use
of
observable
inputs
and
minimizes
the
use
of
unobservable
inputs
by
prioritizing
that
the
most
observable
input
be
used
when
available.
Observable
inputs
are
those
that
market
participants
would
use
in
pricing
an
investment
based
on
market
data
obtained
from
sources
independent
of
the
reporting
entity.
Unobservable
inputs
are
those
that
reflect
the
Fund’s
assumptions
about
the
information
market
participants
would
use
in
pricing
an
investment.
An
investment’s
level
within
the
fair
value
hierarchy
is
based
on
the
lowest
level
of
any
input
that
is
deemed
significant
to
the
asset's
or
liability’s
fair
value
measurement.
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
investments
at
that
level.
For
example,
certain
U.S.
government
securities
are
generally
high
quality
and
liquid,
however,
they
are
reflected
as
Level
2
because
the
inputs
used
to
determine
fair
value
may
not
always
be
quoted
prices
in
an
active
market.
Fair
value
inputs
are
summarized
in
the
three
broad
levels
listed
below:
Level
1
—
Valuations
based
on
quoted
prices
for
investments
in
active
markets
that
the
Fund
has
the
ability
to
access
at
the
measurement
date.
Valuation
adjustments
are
not
applied
to
Level
1
investments.
Level
2
—
Valuations
based
on
other
significant
observable
inputs
(including
quoted
prices
for
similar
securities,
interest
rates,
prepayment
speeds,
credit
risks,
etc.).
Level
3
—
Valuations
based
on
significant
unobservable
inputs
(including
the
Fund’s
own
assumptions
and
judgment
in
determining
the
fair
value
of
investments).
PORTFOLIO
OF
INVESTMENTS
(continued)
Columbia
Sustainable
U.S.
Equity
Income
ETF
April
30,
2022
(Unaudited)
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
Strategic
Beta
ETFs
|
Semiannual
Report
2022
13
Fair
Value
Measurements
(continued)
Inputs
that
are
used
in
determining
fair
value
of
an
investment
may
include
price
information,
credit
data,
volatility
statistics,
and
other
factors.
These
inputs
can
be
either
observable
or
unobservable.
The
availability
of
observable
inputs
can
vary
between
investments,
and
is
affected
by
various
factors
such
as
the
type
of
investment,
and
the
volume
and
level
of
activity
for
that
investment
or
similar
investments
in
the
marketplace.
The
inputs
will
be
considered
by
the
Investment
Manager,
along
with
any
other
relevant
factors
in
the
calculation
of
an
investment’s
fair
value.
The
Fund
uses
prices
and
inputs
that
are
current
as
of
the
measurement
date,
which
may
include
periods
of
market
dislocations.
During
these
periods,
the
availability
of
prices
and
inputs
may
be
reduced
for
many
investments.
This
condition
could
cause
an
investment
to
be
reclassified
between
the
various
levels
within
the
hierarchy.
Investments
falling
into
the
Level
3
category
are
primarily
supported
by
quoted
prices
from
brokers
and
dealers
participating
in
the
market
for
those
investments.
However,
these
may
be
classified
as
Level
3
investments
due
to
lack
of
market
transparency
and
corroboration
to
support
these
quoted
prices.
Additionally,
valuation
models
may
be
used
as
the
pricing
source
for
any
remaining
investments
classified
as
Level
3.
These
models
may
rely
on
one
or
more
significant
unobservable
inputs
and/or
significant
assumptions
by
the
Investment
Manager.
Inputs
used
in
valuations
may
include,
but
are
not
limited
to,
financial
statement
analysis,
capital
account
balances,
discount
rates
and
estimated
cash
flows,
and
comparable
company
data.
Under
the
direction
of
the
Fund’s
Board
of
Trustees
(the
Board),
the
Investment
Manager’s
Valuation
Committee
(the
Committee)
is
responsible
for
overseeing
the
valuation
procedures
approved
by
the
Board.
The
Committee
consists
of
voting
and
non-voting
members
from
various
groups
within
the
Investment
Manager’s
organization,
including
operations
and
accounting,
trading
and
investments,
compliance,
risk
management
and
legal.
The
Committee
meets
at
least
monthly
to
review
and
approve
valuation
matters,
which
may
include
a
description
of
specific
valuation
determinations,
data
regarding
pricing
information
received
from
approved
pricing
vendors
and
brokers
and
the
results
of
Board-approved
valuation
control
policies
and
procedures
(the
Policies).
The
Policies
address,
among
other
things,
instances
when
market
quotations
are
or
are
not
readily
available,
including
recommendations
of
third
party
pricing
vendors
and
a
determination
of
appropriate
pricing
methodologies;
events
that
require
specific
valuation
determinations
and
assessment
of
fair
value
techniques;
securities
with
a
potential
for
stale
pricing,
including
those
that
are
illiquid,
restricted,
or
in
default;
and
the
effectiveness
of
third-party
pricing
vendors,
including
periodic
reviews
of
vendors.
The
Committee
meets
more
frequently,
as
needed,
to
discuss
additional
valuation
matters,
which
may
include
the
need
to
review
back-testing
results,
review
time-
sensitive
information
or
approve
related
valuation
actions.
The
Committee
reports
to
the
Board,
with
members
of
the
Committee
meeting
with
the
Board
at
each
of
its
regularly
scheduled
meetings
to
discuss
valuation
matters
and
actions
during
the
period,
similar
to
those
described
earlier.
The
following
table
is
a
summary
of
the
inputs
used
to
value
the
Fund’s
investments
at
April
30,
2022:
Level
1
($)
Level
2
($)
Level
3
($)
Total
($)
Investments
in
Securities
Common
Stocks
Communication
Services
1,117,698
–
–
1,117,698
Consumer
Discretionary
1,978,890
–
–
1,978,890
Consumer
Staples
2,539,403
–
–
2,539,403
Energy
2,695,485
–
–
2,695,485
Financials
3,766,341
–
–
3,766,341
Health
Care
2,570,540
–
–
2,570,540
Industrials
4,261,880
–
–
4,261,880
Information
Technology
3,187,286
–
–
3,187,286
Materials
2,480,309
–
–
2,480,309
Utilities
3,164,516
–
–
3,164,516
Total
Common
Stocks
27,762,348
–
–
27,762,348
Money
Market
Funds
88,544
–
–
88,544
Total
Investments
in
Securities
27,850,892
–
–
27,850,892
See
the
Portfolio
of
Investments
for
all
investment
classifications
not
indicated
in
the
table.
STATEMENT
OF
ASSETS
AND
LIABILITIES
April
30,
2022
(Unaudited)
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
14
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Columbia
Sustainable
International
Equity
Income
ETF
Columbia
Sustainable
U.S.
Equity
Income
ETF
Assets
Investments
in
securities,
at
value
Unaffiliated
issuers
(cost
$5,093,096
and
$27,268,187,
respectively)
$5,118,038
$27,850,892
Receivable
for:
Dividends
35,810
45,707
Reclaims
receivable
14,770
–
Total
assets
5,168,618
27,896,599
Liabilities
Payable
for:
Investment
management
fees
1,961
8,036
Total
liabilities
1,961
8,036
Net
assets
applicable
to
outstanding
capital
stock
$5,166,657
$27,888,563
Represented
by:
Paid-in
capital
$5,919,955
$26,611,624
Total
distributable
earnings
(loss)
(753,298)
1,276,939
Total
-
representing
net
assets
applicable
to
outstanding
capital
stock
$5,166,657
$27,888,563
Shares
outstanding
200,000
750,000
Net
asset
value
per
share
$25.83
$37.18
STATEMENT
OF
OPERATIONS
Six
Months
Ended
April
30,
2022
(Unaudited)
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
Strategic
Beta
ETFs
|
Semiannual
Report
2022
15
Columbia
Sustainable
International
Equity
Income
ETF
Columbia
Sustainable
U.S.
Equity
Income
ETF
Investment
Income:
Dividends
-
unaffiliated
issuers
$104,479
$336,716
Foreign
taxes
withheld
(11,927)
–
Total
income
92,552
336,716
Expenses:
Investment
management
fees
11,986
39,762
Net
Investment
Income
80,566
296,954
Realized
and
unrealized
gain
(loss)
-
net
Net
realized
gain
(loss)
on:
Investments
-
unaffiliated
issuers
9,398
343,115
In-kind
transactions
-
unaffiliated
issuers
–
322,231
Foreign
currency
translations
(833)
–
Net
realized
gain
8,565
665,346
Change
in
net
unrealized
appreciation
(depreciation)
on:
Investments
-
unaffiliated
issuers
(223,900)
(59,719)
Foreign
currency
translations
(2,639)
–
Net
change
in
unrealized
depreciation
(226,539)
(59,719)
Net
realized
and
unrealized
gain
(loss)
(217,974)
605,627
Net
Increase
(Decrease)
in
net
assets
resulting
from
operations
$(137,408)
$902,581
STATEMENT
OF
CHANGES
IN
NET
ASSETS
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
16
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Columbia
Sustainable
International
Equity
Income
ETF
Columbia
Sustainable
U.S.
Equity
Income
ETF
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
Operations
Net
investment
income
$80,566
$164,904
$296,954
$150,936
Net
realized
gain
8,565
419,617
665,346
1,572,116
Net
change
in
unrealized
appreciation
(depreciation)
(226,539)
747,304
(59,719)
745,475
Net
increase
(decrease)
in
net
assets
resulting
from
operations
(137,408)
1,331,825
902,581
2,468,527
Distributions
to
shareholders
Net
investment
income
and
net
realized
gains
(84,842)
(158,794)
(391,026)
(154,053)
Shareholder
transactions
Proceeds
from
shares
sold
–
–
23,727,862
3,117,247
Cost
of
shares
redeemed
–
(1,104)
(1,895,913)
(4,971,142)
Net
increase
(decrease)
in
net
assets
resulting
from
shareholder
transactions
–
(1,104)
21,831,949
(1,853,895)
Increase
(decrease)
in
net
assets
(222,250)
1,171,927
22,343,504
460,579
Net
Assets:
Net
assets
beginning
of
period
5,388,907
4,216,980
5,545,059
5,084,480
Net
assets
at
end
of
period
$5,166,657
$5,388,907
$27,888,563
$5,545,059
Capital
stock
activity
Shares
outstanding,
beginning
of
period
200,000
200,040
150,000
200,045
Subscriptions
–
–
650,000
100,000
Redemptions
–
(40)
(50,000)
(150,045)
Shares
outstanding,
end
of
period
200,000
200,000
750,000
150,000
FINANCIAL
HIGHLIGHTS
Columbia
Sustainable
International
Equity
Income
ETF
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
Strategic
Beta
ETFs
|
Semiannual
Report
2022
17
The
following
tables
are
intended
to
help
you
understand
each
Fund’s
financial
performance.
Per
share
net
investment
income
(loss)
amounts
are
calculated
based
on
average
shares
outstanding
during
the
period.
Total
return
assumes
reinvestment
of
all
dividends
and
distributions,
if
any.
Total
Return
at
NAV
is
calculated
assuming
an
initial
investment
made
at
the
net
asset
value
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
net
asset
value
during
the
period
and
redemption
on
the
last
day
of
the
period.
Total
Return
at
Market
is
calculated
assuming
an
initial
investment
made
at
the
market
price
at
the
beginning
of
the
period,
reinvestment
of
all
dividends
and
distributions
at
market
price
during
the
period
and
redemption
on
the
last
day
of
the
period.
The
total
return
would
have
been
lower
if
certain
expenses
had
not
been
reimbursed/waived
by
the
Investment
Manager.
Through
July
31,
2020,
Market
Price
returns
are
based
on
the
midpoint
of
the
bid/ask
spread
for
Fund
shares
at
market
close
(typically
4
pm
ET).
Beginning
with
August
31,
2020
month-end
performance,
Market
Price
returns
are
based
on
closing
prices
reported
by
the
Fund's
primary
listing
exchange
(typically
4
pm
ET
close).
These
returns
do
not
represent
the
returns
an
investor
would
receive
if
shares
were
traded
at
other
times.
Total
return
and
portfolio
turnover
are
not
annualized
for
periods
of
less
than
one
year.
The
portfolio
turnover
rate
is
calculated
without
regard
to
purchase
and
sales
transactions
of
short-term
instruments,
certain
derivatives
and
in-kind
transactions,
if
any.
If
such
transactions
were
included,
the
Fund’s
portfolio
turnover
rate
may
be
higher.
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
2020
2019
2018
2017
Per
share
data
Net
asset
value,
beginning
of
period
$26.94‌
$21.08‌
$25.78‌
$26.68‌
$30.59‌
$25.34‌
Income
(loss)
from
investment
operations:
Net
investment
income
0.40‌
0.82‌
0.70‌
0.87‌
0.92‌
0.76‌
Net
realized
and
unrealized
gain
(loss)
(1.09‌)
5.83‌
(4.71‌)
0.50‌
(3.32‌)
5.47‌
Total
from
investment
operations
(0.69‌)
6.65‌
(4.01‌)
1.37‌
(2.40‌)
6.23‌
Less
distributions
to
shareholders:
Net
investment
income
(0.42‌)
(0.79‌)
(0.69‌)
(1.01‌)
(0.94‌)
(0.65‌)
Net
realized
gains
–‌
–‌
–‌
(1.26‌)
(0.57‌)
(0.33‌)
Total
distribution
to
shareholders
(0.42‌)
(0.79‌)
(0.69‌)
(2.27‌)
(1.51‌)
(0.98‌)
Net
asset
value,
end
of
period
$25.83‌
$26.94‌
$21.08‌
$25.78‌
$26.68‌
$30.59‌
Total
Return
at
NAV
(2.57‌)%
31.60‌%
(15.68‌)%
6.05‌%
(8.25‌)%
25.13‌%
Total
Return
at
Market
(3.96‌)%
32.24‌%
(15.02‌)%
8.74‌%
(9.30‌)%
25.58‌%
Ratios
to
average
net
assets:
Total
gross
expenses
(a)
0.45‌%
(b)
0.45‌%
(c)
0.45‌%
(c)
0.45‌%
(c)
0.45‌%
0.45‌%
Total
net
expenses
(a)(d)
0.45‌%
(b)
0.45‌%
(c)
0.45‌%
(c)
0.45‌%
(c)
0.45‌%
0.45‌%
Net
investment
income
3.02‌%
(b)
3.07‌%
3.08‌%
3.43‌%
3.11‌%
2.71‌%
Supplemental
data
Net
assets,
end
of
period
(in
thousands)
$5,167‌
$5,389‌
$4,217‌
$5,157‌
$13,343‌
$12,239‌
Portfolio
turnover
44‌%
90‌%
98‌%
76‌%
82‌%
87‌%
(a)
In
addition
to
the
fees
and
expenses
that
the
Fund
bears
directly,
the
Fund
indirectly
bears
a
pro
rata
share
of
the
fees
and
expenses
of
any
other
funds
in
which
it
invests.
Such
indirect
expenses
are
not
included
in
the
Fund’s
reported
expense
ratios.
(b)
Annualized.
(c)
The
ratio
includes
less
than
0.01%
attributed
to
overdraft
expense,
which
is
outside
the
Unitary
Fee
(as
defined
in
Note
3).
(d)
Total
net
expenses
include
the
impact
of
certain
fee
waivers/expense
reimbursements
made
by
the
Investment
Manager
and
certain
of
its
affiliates,
if
applicable.
FINANCIAL
HIGHLIGHTS
Columbia
Sustainable
U.S.
Equity
Income
ETF
The
accompanying
Notes
to
Financial
Statements
are
an
integral
part
of
these
financial
statements.
18
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Six
Months
Ended
April
30,
2022
(Unaudited)
Year
Ended
October
31,
2021
2020
2019
2018
2017
Per
share
data
Net
asset
value,
beginning
of
period
$36.97‌
$25.42‌
$28.60‌
$28.25‌
$30.30‌
$25.86‌
Income
(loss)
from
investment
operations:
Net
investment
income
0.49‌
0.86‌
0.78‌
0.80‌
0.77‌
0.73‌
Net
realized
and
unrealized
gain
(loss)
0.33‌
11.53‌
(3.15‌)
1.44‌
0.64‌
4.72‌
Total
from
investment
operations
0.82‌
12.39‌
(2.37‌)
2.24‌
1.41‌
5.45‌
Less
distributions
to
shareholders:
Net
investment
income
(0.37‌)
(0.84‌)
(0.74‌)
(0.78‌)
(0.75‌)
(0.67‌)
Net
realized
gains
(0.24‌)
–‌
(0.07‌)
(1.11‌)
(2.71‌)
(0.34‌)
Total
distribution
to
shareholders
(0.61‌)
(0.84‌)
(0.81‌)
(1.89‌)
(3.46‌)
(1.01‌)
Net
asset
value,
end
of
period
$37.18‌
$36.97‌
$25.42‌
$28.60‌
$28.25‌
$30.30‌
Total
Return
at
NAV
2.20‌%
49.08‌%
(8.18‌)%
9.19‌%
4.35‌%
21.36‌%
Total
Return
at
Market
2.09‌%
50.13‌%
(8.64‌)%
9.04‌%
4.51‌%
21.40‌%
Ratios
to
average
net
assets:
Total
gross
expenses
(a)
0.35‌%
(b)
0.35‌%
0.35‌%
0.35‌%
(c)
0.35‌%
0.35‌%
Total
net
expenses
(a)(d)
0.35‌%
(b)
0.35‌%
0.35‌%
0.35‌%
(c)
0.35‌%
0.35‌%
Net
investment
income
2.61‌%
(b)
2.55‌%
2.98‌%
2.94‌%
2.55‌%
2.53‌%
Supplemental
data
Net
assets,
end
of
period
(in
thousands)
$27,889‌
$5,545‌
$5,084‌
$4,291‌
$4,239‌
$3,031‌
Portfolio
turnover
28‌%
77‌%
77‌%
56‌%
61‌%
55‌%
(a)
In
addition
to
the
fees
and
expenses
that
the
Fund
bears
directly,
the
Fund
indirectly
bears
a
pro
rata
share
of
the
fees
and
expenses
of
any
other
funds
in
which
it
invests.
Such
indirect
expenses
are
not
included
in
the
Fund’s
reported
expense
ratios.
(b)
Annualized.
(c)
The
ratio
includes
less
than
0.01%
attributed
to
overdraft
expense,
which
is
outside
the
Unitary
Fee
(as
defined
in
Note
3).
(d)
Total
net
expenses
include
the
impact
of
certain
fee
waivers/expense
reimbursements
made
by
the
Investment
Manager
and
certain
of
its
affiliates,
if
applicable.
NOTES
TO
FINANCIAL
STATEMENTS
April
30,
2022
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
19
Note
1.
Organization
Columbia
ETF
Trust
I
(the
Trust)
is
registered
under
the
Investment
Company
Act
of
1940,
as
amended
(the
1940
Act),
as
an
open-end
management
investment
company
organized
as
a
Massachusetts
statutory
trust.
The
Trust
may
issue
an
unlimited
number
of
shares
(without
par
value).
Information
presented
in
these
financial
statements
pertains
to
the
following
series
of
the
Trust
(each,
a
Fund
and
collectively,
the
Funds):
Columbia
Sustainable
International
Equity
Income
ETF
and
Columbia
Sustainable
U.S.
Equity
Income
ETF.
Each
Fund
is
diversified.
Fund
Shares
The
market
prices
of
each
Fund’s
shares
may
differ
to
some
degree
from
the
Fund’s
net
asset
value
(NAV).
Unlike
conventional
mutual
funds,
each
Fund
issues
and
redeems
shares
on
a
continuous
basis,
at
NAV,
only
in
a
large
specified
number
of
shares,
each
called
a
“Creation
Unit.”
A
Creation
Unit
consists
of
50,000
shares.
Creation
Units
are
issued
and
redeemed
generally
in-kind
for
a
basket
of
securities
and/or
for
cash.
Investors
such
as
market
makers,
large
investors
and
institutions
who
wish
to
deal
in
Creation
Units
directly
with
a
Fund
must
have
entered
into
an
authorized
participant
agreement
(Authorized
Participants)
with
the
Fund’s
principal
underwriter
and
the
transfer
agent,
or
purchase
through
a
dealer
that
has
entered
into
such
an
agreement.
Authorized
participants
may
purchase
or
redeem
Fund
shares
directly
from
the
Fund
only
in
Creation
Units.
The
Funds’
shares
are
also
listed
on
the
New
York
Stock
Exchange
for
which
investors
can
purchase
and
sell
shares
on
the
secondary
market
through
a
broker
at
market
prices
which
may
differ
from
the
NAV
of
the
Fund.
Note
2.
Summary
of
significant
accounting
policies
Basis
of
preparation
Each
Fund
is
an
investment
company
that
applies
the
accounting
and
reporting
guidance
in
the
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
-
Investment
Companies
(ASC
946).
The
financial
statements
are
prepared
in
accordance
with
U.S.
generally
accepted
accounting
principles
(GAAP),
which
requires
management
to
make
certain
estimates
and
assumptions
that
affect
the
reported
amounts
of
assets
and
liabilities,
the
disclosure
of
contingent
assets
and
liabilities
at
the
date
of
the
financial
statements
and
the
reported
amounts
of
income
and
expenses
during
the
reporting
period.
Actual
results
could
differ
from
those
estimates.
The
following
is
a
summary
of
significant
accounting
policies
followed
by
the
Funds
in
the
preparation
of
their
financial
statements.
Security
valuation
Equity
securities
listed
on
an
exchange
are
valued
at
the
closing
price
or
last
trade
price
on
their
primary
exchange
at
the
close
of
business
of
the
New
York
Stock
Exchange.
Securities
with
a
closing
price
not
readily
available
or
not
listed
on
any
exchange
are
valued
at
the
mean
between
the
closing
bid
and
ask
prices.
Listed
preferred
stocks
convertible
into
common
stocks
are
valued
using
an
evaluated
price
from
a
pricing
service.
Foreign
equity
securities
are
valued
based
on
the
closing
price
or
last
trade
price
on
their
primary
exchange
at
the
close
of
business
of
the
New
York
Stock
Exchange.
If
any
foreign
equity
security
closing
prices
are
not
readily
available,
the
securities
are
valued
at
the
mean
of
the
latest
quoted
bid
and
ask
prices
on
such
exchanges
or
markets.
Foreign
currency
exchange
rates
are
generally
determined
at
the
close
of
London’s
exchange
at
11:00
a.m.
Eastern
(U.S.)
time.
Investments
in
open-end
investment
companies
(other
than
exchange-traded
funds
(ETFs)),
are
valued
at
the
latest
net
asset
value
reported
by
those
companies
as
of
the
valuation
time.
Investments
for
which
market
quotations
are
not
readily
available,
or
that
have
quotations
which
management
believes
are
not
reflective
of
market
value
or
reliable,
are
valued
at
fair
value
as
determined
in
good
faith
under
procedures
approved
by
and
under
the
general
supervision
of
the
Board
of
Trustees.
If
a
security
or
class
of
securities
(such
as
foreign
securities)
is
valued
at
fair
value,
such
value
is
likely
to
be
different
from
the
quoted
or
published
price
for
the
security,
if
available.
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
April
30,
2022
(Unaudited)
20
Strategic
Beta
ETFs
|
Semiannual
Report
2022
The
determination
of
fair
value
often
requires
significant
judgment.
To
determine
fair
value,
management
may
use
assumptions
including
but
not
limited
to
future
cash
flows
and
estimated
risk
premiums.
Multiple
inputs
from
various
sources
may
be
used
to
determine
fair
value.
GAAP
requires
disclosure
regarding
the
inputs
and
valuation
techniques
used
to
measure
fair
value
and
any
changes
in
valuation
inputs
or
techniques.
In
addition,
investments
shall
be
disclosed
by
major
category.
This
information
is
disclosed
following
the
Funds’
Portfolio
of
Investments.
Foreign
currency
transactions
and
translation
The
values
of
all
assets
and
liabilities
denominated
in
foreign
currencies
are
generally
translated
into
U.S.
dollars
at
exchange
rates
determined
at
the
close
of
the
London
Stock
Exchange
on
any
given
day.
Net
realized
and
unrealized
gains
(losses)
on
foreign
currency
transactions
and
translations
include
gains
(losses)
arising
from
the
fluctuation
in
exchange
rates
between
trade
and
settlement
dates
on
securities
transactions,
gains
(losses)
arising
from
the
disposition
of
foreign
currency
and
currency
gains
(losses)
between
the
accrual
and
payment
dates
on
dividends,
interest
income
and
foreign
withholding
taxes.
For
financial
statement
purposes,
the
Funds
do
not
distinguish
that
portion
of
gains
(losses)
on
investments
which
is
due
to
changes
in
foreign
exchange
rates
from
that
which
is
due
to
changes
in
market
prices
of
the
investments.
Such
fluctuations
are
included
with
the
net
realized
and
unrealized
gains
(losses)
on
investments
in
the
Statement
of
Operations.
Security
transactions
Security
transactions
are
accounted
for
on
the
trade
date.
Cost
is
determined
and
gains
(losses)
are
based
upon
the
specific
identification
method
for
both
financial
statement
and
federal
income
tax
purposes.
Income
recognition
Corporate
actions
and
dividend
income
are
generally
recorded
net
of
any
non-reclaimable
tax
withholdings,
on
the
ex-
dividend
date
or
upon
receipt
of
an
ex-dividend
notification
in
the
case
of
certain
foreign
securities.
The
Funds
may
receive
distributions
from
holdings
in
equity
securities,
business
development
companies
(BDCs),
exchange-traded
funds
(ETFs),
limited
partnerships
(LPs),
other
regulated
investment
companies
(RICs),
and
real
estate
investment
trusts
(REITs),
which
report
information
as
to
the
tax
character
of
their
distributions
annually.
These
distributions
are
allocated
to
dividend
income,
capital
gain
and
return
of
capital
based
on
actual
information
reported.
Return
of
capital
is
recorded
as
a
reduction
of
the
cost
basis
of
securities
held.
If
the
Fund
no
longer
owns
the
applicable
securities,
return
of
capital
is
recorded
as
a
realized
gain.
With
respect
to
REITs,
to
the
extent
actual
information
has
not
yet
been
reported,
estimates
for
return
of
capital
are
made
by
Columbia
Management
Investment
Advisers,
LLC
(the
Investment
Manager),
a
wholly-owned
subsidiary
of
Ameriprise
Financial,
Inc.
(Ameriprise
Financial).
The
Investment
Manager’s
estimates
are
subsequently
adjusted
when
the
actual
character
of
the
distributions
is
disclosed
by
the
REITs,
which
could
result
in
a
proportionate
change
in
return
of
capital
to
shareholders.
Awards
from
class
action
litigation
are
recorded
as
a
reduction
of
cost
basis
if
the
Fund
still
owns
the
applicable
securities
on
the
payment
date.
If
the
Fund
no
longer
owns
the
applicable
securities
on
the
payment
date,
the
proceeds
are
recorded
as
realized
gains.
Expenses
General
expenses
of
the
Trust
are
allocated
to
the
Funds
based
upon
relative
net
assets
or
other
expense
allocation
methodologies
determined
by
the
nature
of
the
expense.
Expenses
directly
attributable
to
a
Fund
are
charged
to
that
Fund.
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
April
30,
2022
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
21
Determination
of
net
asset
value
The
net
asset
value
per
share
of
each
Fund
is
computed
by
dividing
the
value
of
the
net
assets
of
a
Fund
by
the
total
number
of
outstanding
shares
of
that
Fund,
rounded
to
the
nearest
cent,
at
the
close
of
regular
trading
(ordinarily
4:00
p.m.
Eastern
Time)
every
day
the
New
York
Stock
Exchange
is
open.
Federal
income
tax
status
For
federal
income
tax
purposes,
each
Fund
is
treated
as
a
separate
entity.
Each
Fund
intends
to
qualify
each
year
as
a
regulated
investment
company
under
Subchapter
M
of
the
Internal
Revenue
Code,
as
amended,
and
will
distribute
substantially
all
of
its
investment
company
taxable
income
and
net
capital
gain,
if
any,
for
its
tax
year,
and
as
such
will
not
be
subject
to
federal
income
taxes.
In
addition,
each
Fund
intends
to
distribute
in
each
calendar
year
substantially
all
of
its
ordinary
income,
capital
gain
net
income
and
certain
other
amounts,
if
any,
such
that
the
Fund
should
not
be
subject
to
federal
excise
tax.
Therefore,
no
federal
income
or
excise
tax
provisions
are
recorded.
Foreign
taxes
The
Funds
may
be
subject
to
foreign
taxes
on
income,
gains
on
investments
or
currency
repatriation,
a
portion
of
which
may
be
recoverable.
The
Fund
will
accrue
such
taxes
and
recoveries,
as
applicable,
based
upon
its
current
interpretation
of
tax
rules
and
regulations
that
exist
in
the
markets
in
which
it
invests.
Realized
gains
in
certain
countries
may
be
subject
to
foreign
taxes
at
the
Fund
level,
based
on
statutory
rates.
The
Fund
accrues
for
such
foreign
taxes
on
realized
and
unrealized
gains
at
the
appropriate
rate
for
each
jurisdiction,
as
applicable.
The
amount,
if
any,
is
disclosed
as
a
liability
in
the
Statement
of
Assets
and
Liabilities.
Distributions
to
shareholders
Distributions
from
net
investment
income,
if
any,
are
declared
and
paid
each
calendar
quarter.
Net
realized
capital
gains,
if
any,
are
distributed
at
least
annually.
Income
distributions
and
capital
gain
distributions
are
determined
in
accordance
with
federal
income
tax
regulations,
which
may
differ
from
GAAP.
Guarantees
and
indemnifications
Under
the
Trust’s
organizational
documents
and,
in
some
cases,
by
contract,
its
officers
and
trustees
are
indemnified
against
certain
liabilities
arising
out
of
the
performance
of
their
duties
to
the
Trust
or
its
funds.
In
addition,
certain
of
the
Funds’
contracts
with
their
service
providers
contain
general
indemnification
clauses.
The
Funds’
maximum
exposure
under
these
arrangements
is
unknown
since
the
amount
of
any
future
claims
that
may
be
made
against
the
Funds
cannot
be
determined,
and
the
Funds
have
no
historical
basis
for
predicting
the
likelihood
of
any
such
claims.
Note
3.
Investment
management
fees
Under
an
Investment
Management
Services
Agreement,
Columbia
Management
Investment
Advisers,
LLC
(the
Investment
Manager),
a
wholly-owned
subsidiary
of
Ameriprise
Financial,
Inc.,
determines
which
securities
will
be
purchased,
held
or
sold.
The
investment
management
fee
is
a
unitary
fee
paid
monthly
to
the
Investment
Manager
at
an
annual
rate
based
on
each
Fund’s
average
daily
net
assets.
In
return
for
this
fee,
the
Investment
Manager
pays
the
operating
costs
and
expenses
of
each
Fund
other
than
the
following
expenses
(which
will
be
paid
by
the
Fund):
taxes;
interest
incurred
on
borrowing
by
the
Fund,
if
any;
brokerage
fees
and
commissions,
interest
and
fee
expense
related
to
the
Fund’s
participation
in
inverse
floater
structures
and
any
other
portfolio
transaction
expenses;
infrequent
and/or
unusual
expenses,
including
without
limitation
litigation
expenses;
distribution
and/or
service
fees;
expenses
incurred
in
connection
with
lending
securities;
and
any
other
expenses
approved
by
the
Board
of
Trustees.
The
investment
management
fee
is
an
annual
fee
that
is
equal
to
a
percentage
of
each
Fund’s
average
daily
net
assets
as
follows:
Fund
Effective
investment
management
fee
rate
(%)
Columbia
Sustainable
International
Equity
Income
ETF
0.45
Columbia
Sustainable
U.S.
Equity
Income
ETF
0.35
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
April
30,
2022
(Unaudited)
22
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Compensation
of
board
members
Members
of
the
Board
of
Trustees
who
are
not
officers
or
employees
of
the
Investment
Manager
or
Ameriprise
Financial
are
compensated
for
their
services
to
the
Funds.
Under
a
Deferred
Compensation
Plan
(the
Deferred
Plan),
these
members
of
the
Board
of
Trustees
may
elect
to
defer
payment
of
up
to
100%
of
their
compensation.
Deferred
amounts
are
treated
as
though
equivalent
dollar
amounts
had
been
invested
in
shares
of
certain
funds
managed
by
the
Investment
Manager.
Each
Fund’s
deferred
amount
is
adjusted
for
market
value
changes
and
remains
in
the
Fund
until
distributed
in
accordance
with
the
Deferred
Plan.
All
amounts
payable
under
the
Deferred
Plan
constitute
a
general
unsecured
obligation
of
the
Funds.
The
expenses
of
the
compensation
of
the
members
of
the
Board
of
Trustees
that
are
allocated
to
the
Fund
are
payable
by
the
Investment
Manager.
Compensation
of
Chief
Compliance
Officer
The
Board
of
Trustees
has
appointed
a
Chief
Compliance
Officer
for
the
Funds
in
accordance
with
federal
securities
regulations.
A
portion
of
the
Chief
Compliance
Officer’s
total
compensation
is
allocated
to
the
Funds,
along
with
other
allocations
to
affiliated
registered
investment
companies
managed
by
the
Investment
Manager
and
its
affiliates,
based
on
relative
net
assets.
The
expenses
of
the
Chief
Compliance
Officer
allocated
to
the
Funds
are
payable
by
the
Investment
Manager.
Distribution
and
service
fees
ALPS
Distributors,
Inc.,
(the
Distributor)
serves
as
the
distributor
for
the
Funds.
The
Funds
have
adopted
a
distribution
and
service
plan
(the
Distribution
Plan).
Under
the
Distribution
Plan,
the
Funds
are
authorized
to
pay
distribution
and
service
fees
to
the
Distributor
and
other
firms
that
provide
distribution
and
shareholder
services
at
the
maximum
annual
rate
of
0.25%
of
average
daily
net
assets
of
each
Fund.
No
distribution
or
service
fees
are
currently
paid
by
the
Funds
or
have
been
approved
for
payment
by
the
Board
of
Trustees.
There
are
no
current
plans
to
impose
these
fees.
Note
4.
Federal
tax
information
The
timing
and
character
of
income
and
capital
gain
distributions
are
determined
in
accordance
with
income
tax
regulations,
which
may
differ
from
GAAP
because
of
temporary
or
permanent
book
to
tax
differences.
At
April
30,
2022,
the
approximate
cost
of
all
investments
for
federal
income
tax
purposes
and
the
aggregate
gross
approximate
unrealized
appreciation
and
depreciation
based
on
that
cost
was:
Tax
cost
of
investments
and
unrealized
appreciation/(depreciation)
may
also
include
timing
differences
that
do
not
constitute
adjustments
to
tax
basis.
The
following
capital
loss
carryforwards,
determined
at
October
31,
2021,
may
be
available
to
reduce
future
net
realized
gains
on
investments,
if
any,
to
the
extent
permitted
by
the
Internal
Revenue
Code.
Management
of
the
Funds
has
concluded
that
there
are
no
significant
uncertain
tax
positions
in
the
Funds
that
would
require
recognition
in
the
financial
statements.
However,
management’s
conclusion
may
be
subject
to
review
and
adjustment
at
a
later
date
based
on
factors
including,
but
not
limited
to,
new
tax
laws,
regulations,
and
administrative
interpretations
(including
relevant
court
decisions).
Generally,
the
Funds’
federal
tax
returns
for
the
prior
three
fiscal
years
remain
subject
to
examination
by
the
Internal
Revenue
Service.
Fund
Tax
cost
($)
Gross
unrealized
appreciation
($)
Gross
unrealized
depreciation
($)
Net
unrealized
appreciation
(depreciation)
($)
Columbia
Sustainable
International
Equity
Income
ETF
5,093,096
387,875
(362,933)
24,942
Columbia
Sustainable
U.S.
Equity
Income
ETF
27,268,187
2,078,058
(1,495,353)
582,705
Fund
No
expiration
short-term
($)
No
expiration
long-term
($)
Total
($)
Columbia
Sustainable
International
Equity
Income
ETF
-
798,296
798,296
Columbia
Research
Enhanced
Value
ETF
-
-
-
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
April
30,
2022
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
23
Note
5.
Portfolio
information
The
cost
of
purchases
and
proceeds
from
sales
of
securities,
excluding
short-term
investments
and
in-kind
transactions,
for
the
six
months
ended
April
30,
2022,
were
as
follows:
The
amount
of
purchase
and
sale
activity
impacts
the
portfolio
turnover
rate
reported
in
the
Financial
Highlights.
Note
6.
In-kind
transactions
The
Funds
may
accept
in-kind
contributions
and
redemptions.
In-kind
contributions
are
accounted
for
at
the
fair
market
value
of
the
in-kind
securities
contributed
on
the
date
of
contribution.
For
the
six
months
ended
April
30,
2022,
the
cost
basis
of
securities
contributed
was
as
follows:
Proceeds
from
the
sales
of
securities
include
the
value
of
securities
delivered
through
an
in-kind
redemption
of
certain
Fund
shares.
Net
realized
gains
on
these
securities
are
not
taxable
to
remaining
shareholders
in
the
Fund.
For
the
six
months
ended
April
30,
2022,
the
in-kind
redemptions
were
as
follows:
Note
7.
Line
of
credit
Each
Fund
has
access
to
a
revolving
credit
facility
with
a
syndicate
of
banks
led
by
JPMorgan
Chase
Bank,
N.A.,
Citibank,
N.A.
and
Wells
Fargo
Bank,
N.A.
whereby
the
Fund
may
borrow
for
the
temporary
funding
of
shareholder
redemptions
or
for
other
temporary
or
emergency
purposes.
Pursuant
to
an
October
28,
2021
amendment
and
restatement,
the
credit
facility,
which
is
an
agreement
between
the
Fund
and
certain
other
funds
managed
by
the
Investment
Manager
or
an
affiliated
investment
manager,
severally
and
not
jointly,
permits
aggregate
borrowings
up
to
$950
million.
Interest
is
currently
charged
to
each
participating
fund
based
on
its
borrowings
at
a
rate
equal
to
the
higher
of
(i)
the
federal
funds
effective
rate,
(ii)
the
secured
overnight
financing
rate
plus
0.11448%
and
(iii)
the
overnight
bank
funding
rate,
plus
in
each
case,
1.00%.
Each
borrowing
under
the
credit
facility
matures
no
later
than
60
days
after
the
date
of
borrowing.
The
Fund
also
pays
a
commitment
fee
equal
to
its
pro
rata
share
of
the
unused
amount
of
the
credit
facility
at
a
rate
of
0.15%
per
annum.
The
commitment
fee
is
included
in
other
expenses
in
the
Statement
of
Operations.
This
agreement
expires
annually
in
October
unless
extended
or
renewed.
Prior
to
the
October
28,
2021
amendment
and
restatement,
the
Fund
had
access
to
a
revolving
credit
facility
with
a
syndicate
of
banks
led
by
JPMorgan
Chase
Bank,
N.A.,
Citibank,
N.A.
and
Wells
Fargo
Bank,
N.A.
which
permitted
collective
borrowings
up
to
$950
million.
Interest
was
charged
to
each
participating
fund
based
on
its
borrowings
at
a
rate
equal
to
the
higher
of
(i)
the
federal
funds
effective
rate,
(ii)
the
one-
month
London
Interbank
Offered
Rate
(LIBOR)
rate
and
(iii)
the
overnight
bank
funding
rate,
plus
in
each
case,
1.25%.
No
Fund
had
borrowings
during
the
six
months
ended
April
30,
2022.
Note
8.
Significant
risks
Foreign
securities
and
emerging
market
countries
risk
Investing
in
foreign
securities
may
involve
certain
risks
not
typically
associated
with
investing
in
U.S.
securities,
such
as
increased
currency
volatility
and
risks
associated
with
political,
regulatory,
economic,
social,
diplomatic
and
other
conditions
or
events
(including,
for
example,
military
confrontations,
war,
terrorism,
natural
disasters
and
disease
Fund
Purchases
($)
Proceeds
from
sales
($)
Columbia
Sustainable
International
Equity
Income
ETF
2,326,697
2,353,339
Columbia
Sustainable
U.S.
Equity
Income
ETF
5,833,950
5,950,953
Funds
Contributions
($)
Columbia
Sustainable
International
Equity
Income
ETF
-
Columbia
Sustainable
U.S.
Equity
Income
ETF
23,648,437
Funds
Cost
basis
($)
Proceeds
from
sales
($)
Net
realized
gain
(loss)
($)
Columbia
Sustainable
International
Equity
Income
ETF
-
-
-
Columbia
Sustainable
U.S.
Equity
Income
ETF
1,565,681
1,887,912
322,231
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
April
30,
2022
(Unaudited)
24
Strategic
Beta
ETFs
|
Semiannual
Report
2022
pandemics),
occurring
in
the
country
or
region,
which
may
result
in
significant
market
volatility.
In
addition,
certain
foreign
securities
may
not
be
as
liquid
as
U.S.
securities.
Investing
in
emerging
markets
may
increase
these
risks
and
expose
the
Funds
to
elevated
risks
associated
with
increased
inflation,
deflation
or
currency
devaluation.
To
the
extent
that
Columbia
Sustainable
International
Equity
Income
ETF
concentrates
its
investment
exposure
to
any
one
or
a
few
specific
countries,
the
Fund
will
be
particularly
susceptible
to
the
risks
associated
with
the
conditions,
events
or
other
factors
impacting
those
countries
or
regions
and
may,
therefore,
have
a
greater
risk
than
that
of
a
fund
that
is
more
geographically
diversified.
The
financial
information
and
disclosure
made
available
by
issuers
of
emerging
market
securities
may
be
considerably
less
reliable
than
publicly
available
information
about
other
foreign
securities.
The
Public
Company
Accounting
Oversight
Board,
which
regulates
auditors
of
U.S.
public
companies,
is
unable
to
inspect
audit
work
papers
in
certain
foreign
countries.
Investors
in
foreign
countries
often
have
limited
rights
and
few
practical
remedies
to
pursue
shareholder
claims,
including
class
actions
or
fraud
claims,
and
the
ability
of
the
U.S.
Securities
and
Exchange
Commission,
the
U.S.
Department
of
Justice
and
other
authorities
to
bring
and
enforce
actions
against
foreign
issuers
or
foreign
persons
is
limited.
Geographic
focus
risk
Columbia
Sustainable
International
Equity
Income
ETF
may
be
particularly
susceptible
to
economic,
political,
regulatory
or
other
events
or
conditions
affecting
issuers
and
countries
within
the
specific
geographic
regions
in
which
the
Fund
invests.
The
Fund’s
net
asset
value
may
be
more
volatile
than
the
net
asset
value
of
a
more
geographically
diversified
fund.
Asia
Pacific
Region.
Columbia
Sustainable
International
Equity
Income
ETF
is
particularly
susceptible
to
economic,
political,
regulatory
or
other
events
or
conditions
affecting
issuers
and
countries
in
the
Asia
Pacific
region.
Many
of
the
countries
in
the
region
are
considered
underdeveloped
or
developing,
including
from
a
political,
economic
and/or
social
perspective,
and
may
have
relatively
unstable
governments
and
economies
based
on
limited
business,
industries
and/or
natural
resources
or
commodities.
Events
in
any
one
country
within
the
region
may
impact
other
countries
in
the
region
or
the
region
as
a
whole.
As
a
result,
events
in
the
region
will
generally
have
a
greater
effect
on
the
Fund
than
if
the
Fund
was
more
geographically
diversified.
This
could
result
in
increased
volatility
in
the
value
of
the
Fund’s
investments
and
losses
for
the
Fund.
Also,
securities
of
some
companies
in
the
region
can
be
less
liquid
than
U.S.
or
other
foreign
securities,
potentially
making
it
difficult
for
the
Fund
to
sell
such
securities
at
a
desirable
time
and
price.
Europe.
Columbia
Sustainable
International
Equity
Income
ETF
is
particularly
susceptible
to
risks
related
to
economic,
political,
regulatory
or
other
events
or
conditions,
including
acts
of
war
or
other
conflicts
in
the
region,
affecting
issuers
and
countries
in
Europe.
Countries
in
Europe
are
often
closely
connected
and
interdependent,
and
events
in
one
European
country
can
have
an
adverse
impact
on,
and
potentially
spread
to,
other
European
countries.
In
addition,
significant
private
and
public
sectors’
debt
problems
of
a
single
European
Union
(EU)
country
can
pose
economic
risks
to
the
EU
as
a
whole.
As
a
result,
the
Fund’s
net
asset
value
may
be
more
volatile
than
the
net
asset
value
of
a
more
geographically
diversified
fund.
If
securities
of
issuers
in
Europe
fall
out
of
favor,
it
may
cause
the
Fund
to
underperform
other
funds
that
do
not
focus
their
investments
in
this
region
of
the
world.
The
departure
of
the
United
Kingdom
(UK)
from
the
EU
single
market
became
effective
January
1,
2021
with
the
end
of
the
Brexit
transition
period
and
the
post-Brexit
trade
deal
between
the
UK
and
EU
taking
effect
on
December
31,
2020.
The
impact
of
Brexit
on
the
UK
and
European
economies
and
the
broader
global
economy
could
be
significant,
resulting
in
negative
impacts
on
currency
and
financial
markets
generally,
such
as
increased
volatility
and
illiquidity,
and
potentially
lower
economic
growth
in
markets
in
Europe,
which
may
adversely
affect
the
value
of
your
investment
in
the
Fund.
Japan
.
Columbia
Sustainable
International
Equity
Income
ETF
is
particularly
susceptible
to
the
social,
political,
economic,
regulatory
and
other
conditions
or
events
that
may
affect
Japan’s
economy.
The
Japanese
economy
is
heavily
dependent
upon
international
trade,
including,
among
other
things,
the
export
of
finished
goods
and
the
import
of
oil
and
other
commodities
and
raw
materials.
Because
of
its
trade
dependence,
the
Japanese
economy
is
particularly
exposed
to
the
risks
of
currency
fluctuation,
foreign
trade
policy
and
regional
and
global
economic
disruption,
including
the
risk
of
increased
tariffs,
embargoes,
and
other
trade
limitations
or
factors.
Strained
relationships
between
Japan
and
its
neighboring
countries,
including
China,
South
Korea
and
North
Korea,
based
on
historical
grievances,
territorial
disputes,
and
defense
concerns,
may
also
cause
uncertainty
in
Japanese
markets.
As
a
result,
additional
tariffs,
other
trade
barriers,
or
boycotts
may
have
an
adverse
impact
on
the
Japanese
economy.
Japanese
government
policy
has
been
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
April
30,
2022
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
25
characterized
by
economic
regulation,
intervention,
protectionism
and
large
government
deficits.
The
Japanese
economy
is
also
challenged
by
an
unstable
financial
services
sector,
highly
leveraged
corporate
balance
sheets
and
extensive
cross-ownership
among
major
corporations.
Structural
social
and
labor
market
changes,
including
an
aging
workforce,
population
decline
and
traditional
aversion
to
labor
mobility
may
adversely
affect
Japan’s
economic
competitiveness
and
growth
potential.
The
potential
for
natural
disasters,
such
as
earthquakes,
volcanic
eruptions,
typhoons
and
tsunamis,
could
also
have
significant
negative
effects
on
Japan’s
economy.
As
a
result
of
the
Fund
investment
in
Japanese
securities,
the
Fund’s
net
asset
value
may
be
more
volatile
than
the
net
asset
value
of
a
more
geographically
diversified
fund.
If
securities
of
issuers
in
Japan
fall
out
of
favor,
it
may
cause
the
Fund
to
underperform
other
funds
that
do
not
focus
their
investments
in
Japan.
Market
risk
The
Funds
may
incur
losses
due
to
declines
in
the
value
of
one
or
more
securities
in
which
they
invest.
These
declines
may
be
due
to
factors
affecting
a
particular
issuer,
or
the
result
of,
among
other
things,
political,
regulatory,
market,
economic
or
social
developments
affecting
the
relevant
market(s)
more
generally.
In
addition,
turbulence
in
financial
markets
and
reduced
liquidity
in
equity,
credit
and/or
fixed
income
markets
may
negatively
affect
many
issuers,
which
could
adversely
affect
the
Funds’
ability
to
price
or
value
hard-to-value
assets
in
thinly
traded
and
closed
markets
and
could
cause
significant
redemptions
and
operational
challenges.
Global
economies
and
financial
markets
are
increasingly
interconnected,
and
conditions
and
events
in
one
country,
region
or
financial
market
may
adversely
impact
issuers
in
a
different
country,
region
or
financial
market.
These
risks
may
be
magnified
if
certain
events
or
developments
adversely
interrupt
the
global
supply
chain;
in
these
and
other
circumstances,
such
risks
might
affect
companies
worldwide.
As
a
result,
local,
regional
or
global
events
such
as
terrorism,
war,
natural
disasters,
disease/virus
outbreaks
and
epidemics
or
other
public
health
issues,
recessions,
depressions
or
other
events
–
or
the
potential
for
such
events
–
could
have
a
significant
negative
impact
on
global
economic
and
market
conditions
and
could
result
in
increased
premiums
or
discounts
to
the
Funds’
net
asset
value.
The
large-scale
invasion
of
Ukraine
by
Russia
in
February
2022
has
resulted
in
sanctions
and
market
disruptions,
including
declines
in
regional
and
global
stock
and
commodity
markets
and
significant
devaluations
of
Russian
currency.
The
extent
and
duration
of
the
military
action
are
impossible
to
predict
but
could
be
significant.
Market
disruption
caused
by
the
Russian
military
action,
and
any
counter
measures
or
responses
thereto
(including
international
sanctions,
a
downgrade
in
the
country’s
credit
rating,
purchasing
and
financing
restrictions,
boycotts,
tariffs,
changes
in
consumer
or
purchaser
preferences,
cyberattacks
and
espionage)
could
have
severe
adverse
impacts
on
regional
and/or
global
securities
and
commodities
markets,
including
markets
for
oil
and
natural
gas.
These
impacts
may
include
reduced
market
liquidity,
distress
in
credit
markets,
further
disruption
of
global
supply
chains,
increased
risk
of
inflation,
and
limited
access
to
investments
in
certain
international
markets
and/or
issuers.
These
developments
and
other
related
events
could
negatively
impact
Fund
performance.
The
pandemic
caused
by
coronavirus
disease
2019
and
its
variants
(COVID-19)
has
resulted
in,
and
may
continue
to
result
in,
significant
global
economic
and
societal
disruption
and
market
volatility
due
to
disruptions
in
market
access,
resource
availability,
facilities
operations,
imposition
of
tariffs,
export
controls
and
supply
chain
disruption,
among
others.
Such
disruptions
may
be
caused,
or
exacerbated
by,
quarantines
and
travel
restrictions,
workforce
displacement
and
loss
in
human
and
other
resources.
The
uncertainty
surrounding
the
magnitude,
duration,
reach,
costs
and
effects
of
the
global
pandemic,
as
well
as
actions
that
have
been
or
could
be
taken
by
governmental
authorities
or
other
third
parties,
present
unknowns
that
are
yet
to
unfold.
The
impacts,
as
well
as
the
uncertainty
over
impacts
to
come,
of
COVID-19
–
and
any
other
infectious
illness
outbreaks,
epidemics
and
pandemics
that
may
arise
in
the
future
–
could
negatively
affect
global
economies
and
markets
in
ways
that
cannot
necessarily
be
foreseen.
In
addition,
the
impact
of
infectious
illness
outbreaks
and
epidemics
in
emerging
market
countries
may
be
greater
due
to
generally
less
established
healthcare
systems,
governments
and
financial
markets.
Public
health
crises
caused
by
the
COVID-19
outbreak
may
exacerbate
other
pre-existing
political,
social
and
economic
risks
in
certain
countries
or
globally.
The
disruptions
caused
by
COVID-19
could
prevent
the
Funds
from
executing
advantageous
investment
decisions
in
a
timely
manner
and
negatively
impact
the
Funds’
ability
to
achieve
their
investment
objective.
Any
such
events
could
have
a
significant
adverse
impact
on
the
value
and
risk
profile
of
the
Funds.
NOTES
TO
FINANCIAL
STATEMENTS
(continued)
April
30,
2022
(Unaudited)
26
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Passive
investment
risk
The
Funds
are
not
"actively"
managed
and
may
be
affected
by
a
general
decline
in
market
segments
related
to
their
tracking
index.
The
Funds
invest
in
securities
or
instruments
included
in,
or
believed
by
the
Investment
Manager
to
be
representative
of,
its
tracking
index,
regardless
of
their
investment
merits.
The
Funds
do
not
seek
temporary
defensive
positions
when
markets
decline
or
appear
overvalued.
The
decision
of
whether
to
remove
a
security
from
a
tracking
index
is
made
by
an
independent
index
provider
who
is
not
affiliated
with
the
Fund
or
the
Investment
Manager.
Note
9.
Subsequent
events
Management
has
evaluated
the
events
and
transactions
that
have
occurred
through
the
date
the
financial
statements
were
issued
and
noted
no
items
requiring
adjustment
of
the
financial
statements
or
additional
disclosure.
Note
10.
Information
regarding
pending
and
settled
legal
proceedings
Ameriprise
Financial
and
certain
of
its
affiliates
are
involved
in
the
normal
course
of
business
in
legal
proceedings
which
include
regulatory
inquiries,
arbitration
and
litigation,
including
class
actions
concerning
matters
arising
in
connection
with
the
conduct
of
its
activities
as
a
diversified
financial
services
firm.
Ameriprise
Financial
believes
that
the
Funds
are
not
currently
the
subject
of,
and
that
neither
Ameriprise
Financial
nor
any
of
its
affiliates
are
the
subject
of,
any
pending
legal,
arbitration
or
regulatory
proceedings
that
are
likely
to
have
a
material
adverse
effect
on
the
Funds
or
the
ability
of
Ameriprise
Financial
or
its
affiliates
to
perform
under
their
contracts
with
the
Funds.
Ameriprise
Financial
is
required
to
make
quarterly
(10-Q),
annual
(10-K)
and,
as
necessary,
8-K
filings
with
the
Securities
and
Exchange
Commission
(SEC)
on
legal
and
regulatory
matters
that
relate
to
Ameriprise
Financial
and
its
affiliates.
Copies
of
these
filings
may
be
obtained
by
accessing
the
SEC
website
at
www.sec.gov.
There
can
be
no
assurance
that
these
matters,
or
the
adverse
publicity
associated
with
them,
will
not
result
in
increased
Fund
redemptions,
reduced
sale
of
Fund
shares
or
other
adverse
consequences
to
the
Funds.
Further,
although
we
believe
proceedings
are
not
likely
to
have
a
material
adverse
effect
on
the
Funds
or
the
ability
of
Ameriprise
Financial
or
its
affiliates
to
perform
under
their
contracts
with
the
Funds,
these
proceedings
are
subject
to
uncertainties
and,
as
such,
we
are
unable
to
estimate
the
possible
loss
or
range
of
loss
that
may
result.
An
adverse
outcome
in
one
or
more
of
these
proceedings
could
result
in
adverse
judgments,
settlements,
fines,
penalties
or
other
relief
that
could
have
a
material
adverse
effect
on
the
consolidated
financial
condition
or
results
of
operations
of
Ameriprise
Financial
or
one
or
more
of
its
affiliates
that
provides
services
to
the
Funds.
LIQUIDITY
RISK
MANAGEMENT
PROGRAM
(Unaudited)
Strategic
Beta
ETFs
|
Semiannual
Report
2022
27
Pursuant
to
Rule
22e-4
under
the
1940
Act,
each
Fund
has
adopted
a
liquidity
risk
management
program
(the
Program).
The
Program’s
principal
objectives
include
assessing,
managing
and
periodically
reviewing
the
Fund’s
liquidity
risk.
Liquidity
risk
is
defined
as
the
risk
that
the
Fund
could
not
meet
redemption
requests
without
significant
dilution
of
remaining
investors’
interests
in
the
Fund.
The
Board
has
appointed
the
Investment
Manager
as
the
program
administrator
for
each
Fund’s
Program.
The
Investment
Manager
has
delegated
oversight
of
the
Program
to
its
Liquidity
Risk
Management
Committee
(the
Committee).
At
a
board
meeting
during
the
fiscal
period,
the
Committee
provided
the
Board
with
a
report
addressing
the
operations
of
the
program
and
assessing
its
adequacy
and
effectiveness
of
implementation
for
the
period
January
1,
2021,
through
December
31,
2021,
including:
There
can
be
no
assurance
that
the
Program
will
achieve
its
objectives
in
the
future.
Please
refer
to
the
Fund’s
prospectus
for
more
information
regarding
the
Fund’s
exposure
to
liquidity
risk
and
other
principal
risks
to
which
an
investment
in
the
Fund
may
be
subject.
the
Fund
had
sufficient
liquidity
to
both
meet
redemptions
and
operate
effectively
on
behalf
of
shareholders;
there
were
no
material
changes
to
the
Program
during
the
period;
the
implementation
of
the
Program
was
effective
to
manage
the
Fund’s
liquidity
risk;
and
the
Program
operated
adequately
during
the
period.
ADDITIONAL
INFORMATION
28
Strategic
Beta
ETFs
|
Semiannual
Report
2022
Proxy
voting
policies
and
procedures
A
description
of
the
Trust’s
proxy
voting
policies
and
procedures
that
the
Trust
uses
to
determine
how
to
vote
proxies
relating
to
portfolio
securities,
and
each
Fund’s
proxy
voting
record
for
the
most
recent
twelve-month
period
ended
June 30
is
available,
without
charge,
by
visiting
columbiathreadneedleus.com/etfs
or
searching
the
website
of
the
Securities
and
Exchange
Commission
(the
SEC)
at
sec.gov.
Quarterly
schedule
of
investments
Each
Fund
files
a
complete
schedule
of
portfolio
holdings
with
the
SEC
for
the
first
and
third
quarters
of
each
fiscal
year
on
Form
N-PORT.
The
Funds'
Form
N-PORTs
are
available
on
the
SEC's
website
at
sec.gov.
Each
Fund's
complete
schedule
of
portfolio
holdings,
as
filed
on
Form
N-PORT,
can
also
be
obtained
without
charge,
upon
request,
by
calling
888.800.4347.
Additional
Fund
information
For
more
information
about
the
Funds,
please
visit
columbiathreadneedleus.com/etfs
or
call
888.800.4347.
Premium/discount
information
for
the
Funds
covering
the
most
recently
completed
calendar
year
and
the
most
recently
completed
calendar
quarters
since
that
year
(or
since
the
Fund
began
trading,
if
shorter)
is
publicly
accessible,
free
of
charge,
at
columbiathreadneedleus.com/etfs.
Fund
investment
manager
Columbia
Management
Investment
Advisers,
LLC
(the
Investment
Manager)
290
Congress
Street
Boston,
MA
02210
Fund
distributor
ALPS
Distributors,
Inc.
1290
Broadway
Suite
1000
Denver,
CO
80203
ALPS
Distributors,
Inc.
is
not
affiliated
with
Columbia
Management
Investment
Advisers,
LLC.
Fund
administrator,
custodian
&
transfer
agent
The
Bank
of
New
York
Mellon
Corp.
240
Greenwich
Street
New
York,
NY
10286
The
Bank
of
New
York
Mellon
Corp.
is
not
affiliated
with
Columbia
Management
Investment
Advisers,
LLC.
Columbia
ETF
Trust
I
290
Congress
Street
Boston,
MA
02210
SAR271_10_M01_(06/22)
CET001579
Investors
should
consider
the
investment
objectives,
risks,
charges
and
expenses
of
an
exchange-traded
fund
(ETF)
carefully
before
investing.
For
a
free
prospectus
and
summary
prospectus,
which
contains
this
and
other
important
information
about
the
ETFs,
visit
columbiathreadneedleus.com/etfs.
Read
the
prospectus
and
summary
prospectus
carefully
before
investing.
Columbia
Management
Investment
Advisers,
LLC
serves
as
the
investment
manager
to
the
ETFs.
The
ETFs
are
distributed
by
ALPS
Distributors,
Inc.,
which
is
not
affiliated
with
Columbia
Management
Investment
Advisers,
LLC,
or
its
parent
company,
Ameriprise
Financial,
Inc.
©
2022
Columbia
Management
Investment
Advisers,
LLC.
columbiathreadneedleus.com/etfs