UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CERTIFIED
SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment
Company Act file number 811-23477
BNY Mellon ETF Trust
(Exact name of registrant as specified in charter)
_____________New York,
New York 10286_____________
(Address of principal executive offices) (Zip code)
_________________New
York, New York 10286_____________
(Name and address of
agent for service)
Registrant's
telephone number, including area code: (212) 922-6400
Date
of fiscal year end: October 31
Date
of reporting period: October 31, 2020
Form
N-CSR is to be used by management investment companies to file reports with the
Commission not later than 10 days after the transmission to stockholders of any
report that is required to be transmitted to stockholders under Rule 30e-1
under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may
use the information provided on Form N-CSR in its regulatory, disclosure
review, inspection, and policymaking roles.
A
registrant is required to disclose the information specified by Form N-CSR, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-CSR unless the
Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the
accuracy of the information collection burden estimate and any suggestions for
reducing the burden to Secretary, Securities and Exchange Commission,
100 F Street, NE, Washington, DC 20549
. The OMB has
reviewed this collection of information under the clearance requirements of 44
U.S.C. § 3507.
Item 1. Reports to
Stockholders.
The
following is a copy of the report transmitted to shareholders pursuant to Rule
30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).
(a) As
of the period ended October 31, 2020 (the “Reporting Period”), the Registrant
has adopted a code of ethics that applies to the Registrant’s principal
executive officer, principal financial officer, principal accounting officer,
controller or persons performing similar functions, regardless of whether these
individuals are employed by the registrant or a third party.
(c) During
the Reporting Period, there have been no amendments, during the period covered
by this report, to a provision of the code of ethics that applies to the
Registrant’s principal executive officer, principal financial officer,
principal accounting officer or controller, or persons performing similar
functions, regardless of whether these individuals are employed by the
Registrant or a third party, and that relates to any element of the code of
ethics description.
(d) During
the Reporting Period, the Registrant has not granted any waivers, including an
implicit waiver, from a provision of the code of ethics to the Registrant’s
principal executive officer, principal financial officer, principal accounting
officer or controller, or persons performing similar functions, regardless of
whether these individuals are employed by the Registrant or a third party, that
relates to one or more of the items set forth in paragraph (b) of this item’s
instructions.
Item
3. Audit Committee Financial Expert.
The
Registrant’s Board of Trustees has determined that Mr. Kevin W. Quinn is
qualified to serve as an audit committee financial expert serving on the
Registrant’s audit committee and that he is “independent,” as defined by Item 3
of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
The aggregate fees billed for the last
fiscal year ended October 31, 2020 for professional services rendered by the
principal accountant for the audit of the Registrant’s annual financial
statements or services that are normally provided by the accountant in
connection with statutory and regulatory filings or engagements for that fiscal
year was $156,000. The Registrant commenced operations on April 9, 2020 and
thus has completed only one fiscal year to date.
The aggregate fees billed for the
last fiscal year ended October 31, 2020 for assurance and related services
rendered to the Registrant by the principal accountant that are reasonably
related to the performance of the audit of the Registrant’s financial
statements and are not reported under paragraph (a) of this Item was $48,000. These
services consisted of security counts required by Rule 17f-2 under the
Investment Company Act of 1940, as amended. The Registrant commenced operations
on April 9, 2020 and thus has completed only one fiscal year to date.
The aggregate fees billed for the
last fiscal year ended October 31, 2020 for professional services rendered to
the Registrant by the principal accountant for tax compliance, tax advice and
tax planning was $30,400. These services consisted
of (i) review or
preparation of U.S. federal, state, local and excise tax returns; (ii) U.S.
federal, state and local entity tax planning, advice and assistance regarding
statutory, regulatory or administrative developments, and (iii) tax advice
regarding tax qualification
. The Registrant commenced operations on April 9, 2020
and thus has completed only one fiscal year to date.
The aggregate fees billed for the
last fiscal year ended October 31, 2020 for products and services provided by
the principal accountant, other than the services reported in paragraphs (a)
through (c) of this Item was $0. The Registrant commenced operations on April
9, 2020 and thus has completed only one fiscal year to date.
(e)(1) Pursuant
to the Registrant’s Audit Committee Charter that has been adopted by the audit
committee, the audit committee shall approve all audit and permissible
non-audit services to be provided to the Registrant and all permissible
non-audit services to be provided to its investment adviser or any entity
controlling, controlled by or under common control with the investment adviser
that provides ongoing services to the Registrant if the engagement relates
directly to the operations and financial reporting of the Registrant.
(e)(2) The
percentage of services described in paragraphs (b) through (d) of this Item
that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of
Rule 2-01 of Regulation S-X, with respect to: Audit-Related Fees was 100%; Tax
Fees was 100%; and All Other Fees was 0%.
(f) The
percentage of hours expended on the principal accountant’s engagement to audit
the Registrant’s financial statements for the most recent fiscal year that were
attributed to work performed by persons other than the principal accountant’s
full-time, permanent employees was less than fifty percent.
(g) The
aggregate non-audit fees billed by the Registrant’s accountant for services
rendered to the Registrant, and rendered to the Registrant’s investment adviser
(not including any sub-adviser whose role is primarily portfolio management and
is subcontracted with or overseen by another investment adviser), and any
entity controlling, controlled by, or under common control with the investment
adviser that provides ongoing services to the Registrant for the last fiscal
year of the Registrant was $69,187. The Registrant commenced operations on
April 9, 2020 and thus has completed only one fiscal year to date.
(h) The
Registrant’s audit committee has considered whether the provision of non-audit
services that were rendered to the Registrant’s investment adviser (not
including any sub-adviser whose role is primarily portfolio management and is
subcontracted with or overseen by another investment adviser), and any entity
controlling, controlled by, or under common control with the investment adviser
that provides ongoing services to the Registrant that were not pre-approved
pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible
with maintaining the principal accountant’s independence.
Item 5. Audit
Committee of Listed Registrants.
(a) The Registrant has a
separately designated audit committee established in accordance with Section
3(a)(58)(A) of the Securities Exchange Act of 1934, as amended, which consists
of independent trustees of the Registrant. The audit committee members are J.
Charles Cardona, Kristen M. Dickey, F. Jack Liebau, Jr., Jill I. Mavro, Kevin
W. Quinn, and Stacy L. Schaus.
(a) The
Schedule of Investments in securities of unaffiliated issuers as of the close
of the Reporting Period is included as part of the report to shareholders filed
under Item 1 of this Form N-CSR.
Item 7. Disclosure
of Proxy Voting Policies and Procedures for Closed-End Management Investment
Companies.
Item 8. Portfolio
Managers of Closed-End Management Investment Companies.
Item 9. Purchases
of Equity Securities by Closed-End Management Investment Company and Affiliated
Purchasers.
Item 10.
Submission of Matters to a Vote of Security Holders.
There
have been no material changes to the procedures by which the shareholders may
recommend nominees to the Registrant’s Board of Trustees, where those changes
were implemented after the registrant last provided disclosure in response to
the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as
required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls
and Procedures.
The
Registrant’s principal executive and principal financial officers, or persons
performing similar functions, have concluded that the registrant’s disclosure
controls and procedures (as defined in Rule 30a-3(c) under the Investment
Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are
effective, as of a date within 90 days of the filing date of the report that
includes the disclosure required by this paragraph, based on their evaluation
of these controls and procedures required by Rule 30a-3(b) under the 1940 Act
(17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities
Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).
There
were no changes in the Registrant’s internal control over financial reporting
(as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d))) that
occurred during the period covered by this report that has materially affected,
or is reasonably likely to materially affect, the registrant’s internal control
over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies.
Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
(Registrant) BNY
Mellon ETF Trust
By
(Signature and Title)* /s/ David DiPetrillo
David DiPetrillo, President
(Principal
Executive Officer)
Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment
Company Act of 1940, this report has been signed below by the following persons
on behalf of the registrant and in the capacities and on the dates indicated.
By
(Signature and Title)* /s/ David DiPetrillo
David DiPetrillo, President
(Principal
Executive Officer)
Date 12/22/2020 ___________
By
(Signature and Title)* /s/ James Windels ______
James Windels, Treasurer
(Principal
Financial and Accounting Officer)
*
Print the name
and title of each signing officer under his or her signature.