etf-updatedinternalcontrolle.htm - Generated by SEC Publisher for SEC Filing

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board ofTrustees of
Oppenheimer ETF Trust

In planning and performing our audit of the financial statements of Oppenheimer ETF
TrustcomprisingOppenheimer S&P 500 Revenue ETF, Oppenheimer S&P MidCap400 Revenue ETF, Oppenheimer
S&P SmallCap 600 Revenue ETF, Oppenheimer S&P FinancialsRevenue ETF, OppenheimerS&P Ultra Dividend
Revenue ETF, Oppenheimer Emerging Markets Revenue ETF, Oppenheimer International Revenue ETF,
Oppenheimer Global Revenue ETF, Oppenheimer ESG Revenue ETF, Oppenheimer Global ESG Revenue ETF,
Oppenheimer Russell 1000® Momentum Factor ETF, Oppenheimer Russell 1000® Value Factor ETF, Oppenheimer
Russell 1000® Low Volatility Factor ETF, Oppenheimer Russell 1000® Size Factor ETF, Oppenheimer Russell 1000®
Quality Factor ETF, Oppenheimer Russell 1000® Yield Factor ETF, Oppenheimer Russell 1000® Dynamic Multifactor
ETF, Oppenheimer Russell 2000® Dynamic Multifactor ETF(the “Funds”) as of and for the year or period ended June
30, 2018, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we
considered the Funds’ internal control over financial reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements
and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the
effectiveness of the Funds’ internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Funds is responsible for establishing and maintaining effective internal control over
financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess
the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process
designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of
financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A
fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the
maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of
the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit
preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are
being made only in accordance with authorizations of management and trustees of the fund; and (3) provide
reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a
fund’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect
misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that
controls may become inadequate because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not
allow management or employees, in the normal course of performing their assigned functions, to prevent or
detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in
internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of
the Funds’ annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Funds’ internal control over financial reporting was for the limited purpose described in
the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material
weaknesses under standards established by the Public Company Accounting Oversight Board (United States).
However, we noted no deficiencies in the Funds’ internal control over financial reporting and its operation,
including controls over safeguarding securities that we consider to be a material weakness as defined above as of
June 30, 2018.

This report is intended solely for the information and use of management and the Board of Trusteesof the Funds
and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other
than these specified parties.