UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

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)

240 Greenwich Street

_____________New York, New York 10286_____________

(Address of principal executive offices) (Zip code)

Bennett A. MacDougall

240 Greenwich Street

_________________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.

(a)

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).

BNY

Mellon

ETF

Trust

ANNUAL

REPORT

October

31,

2020

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

Beginning

on

January

1,

2021,

as

permitted

by

regulations

adopted

by

the

U.S.

Securities

and

Exchange

Commission,

paper

copies

of

a

fund’s

annual

and

semi-annual

shareholder

reports

will

no

longer

be

sent

by

mail,

unless

you

specifically

request

paper

copies

of

the

reports

from

your

financial

intermediary

(such

as

a

broker-dealer

or

bank).

Instead,

shareholder

reports

will

be

available

on

the

funds’

website

(www.

im.bnymellon.com),

and

you

will

be

notified

by

mail

each

time

a

report

is

posted

and

provided

with

a

website

link

to

access

the

report.

If

you

already

elected

to

receive

shareholder

reports

electronically,

you

will

not

be

affected

by

this

change

and

you

need

not

take

any

action.

You

may

elect

to

receive

shareholder

reports

and

other

communications

from

the

funds

electronically

anytime

by

contacting

your

financial

intermediary.

You

may

elect

to

receive

all

future

fund

shareholder

reports

in

paper

free

of

charge.

Please

contact

your

financial

intermediary

to

inform

them

that

you

wish

to

continue

receiving

paper

copies

of

fund

shareholder

reports

and

for

details

about

whether

your

election

to

receive

reports

in

paper

will

apply

to

all

funds

held

with

your

financial

intermediary.

Contents

The

Funds

Discussion

of

Funds’

Performance

3

Fund

Performance

19

Understanding

Your

Fund’s

Expenses

27

Statements

of

Investments

28

Statements

of

Assets

and

Liabilities

99

Statements

of

Operations

102

Statements

of

Changes

in

Net

Assets

105

Financial

Highlights

109

Notes

to

Financial

Statements

117

Report

of

Independent

Registered

Public

Accounting

Firm

128

Important

Tax

Information

129

Board

Members

Information

130

Officers

of

the

Trust

131

FOR

MORE

INFORMATION

Back

Cover

The

views

expressed

herein

are

current

to

the

date

of

this

report.

These

views

and

the

composition

of

the

funds’

portfolios

are

subject

to

change

at

any

time

based

on

market

and

other

conditions.

Not

FDIC-Insured

•

Not

Bank-Guaranteed

•

May

Lose

Value

3

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

inception

on

April

7,

2020

through

October

31,

2020,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

since

inception

on

April

7,

2020

through

October

31,

2020,

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

produced

a

total

return

of

24.76%.

1

This

compares

with

a

24.86%

total

return

for

the

fund's

benchmark,

the

Morningstar

®

US

Large

Cap

Index

SM

(the

“Index”),

for

the

period

since

4/7/20

through

10/31/20.

2,3

Large-cap

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence

and

stock

valuations.

The

Fund’s

Investment

Approach

The

fund

seeks

to

match

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Index.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

U.S.

large-

capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(“REITs”)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-

trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

top

70%

of

the

remaining

securities

comprising

the

investable

universe.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

COVID-19

and

Central

Banks

Influence

Markets

Equities

began

a

rally

in

April

2020

that

went

on

for

much

of

the

reporting

period.

Prior

to

April,

an

unprecedented

amount

of

stimulus

and

financial

support

was

briskly

deployed

by

global

central

banks

and

governments.

This

helped

to

buoy

investor

confidence

and

support

security

valuations.

Investors

began

to

anticipate

a

move

toward

economic

normalization,

as

lockdown

measures

eased,

and

the

number

of

COVID-19

cases

fell

across

much

of

the

world.

Although

punctuated

by

periodic

bouts

of

volatility,

the

upward

trend

generally

lasted

through

August

2020.

However,

the

recovery

was

company

and

sector

specific,

as

several

industries

that

remained

affected

by

COVID-19

prevention

procedures

did

not

fully

participate.

In

September

2020,

volatility

crept

back

into

equity

markets,

as

increasing

COVID-19

infection

rates

began

to

concern

investors.

By

October,

several

countries

had

begun

to

reinstitute

some

degree

of

behavioral

restrictions

among

residents

in

order

to

stem

the

spread

of

the

virus.

In

addition,

mounting

political

rhetoric

in

the

U.S.

due

to

the

election,

renewed

trade

difficulties

between

the

U.S.

and

China

and

other

geopolitical

events

stoked

investor

anxiety.

Stocks

continued

to

exhibit

volatility

through

the

end

of

the

period.

According

to

the

Morningstar

family

of

indices,

small-cap

stocks

generally

outperformed

both

their

mid-cap

and

large-cap

counterparts

during

the

period.

Information

Technology

Stocks

Lead

the

Market

The

information

technology

sector

led

the

index

over

the

reporting

period.

During

the

equity

rebound

that

started

near

the

beginning

of

the

reporting

period,

investors

favored

companies

with

a

lot

of

cash

on

their

balance

sheets.

Several

large

technology

companies

fit

this

criterion,

particularly

Apple,

which

was

a

standout

performer.

Demand

for

the

company’s

products

was

strong

during

the

period,

as

consumers

upgraded

their

technological

devices.

Anticipation

of

5G

rollout

and

new

product

availability

also

buoyed

investors’

optimism.

Within

the

sector,

cloud

computing

businesses

also

performed

well.

The

shift

to

working

from

home

increased

demand

for

cloud

computing

services.

Semiconductors

and

semiconductor

equipment

was

also

a

top

performing

industry,

as

demand

was

high

for

chips

used

in

phones,

gaming

and

for

industrial

purposes.

Within

the

consumer

discretionary

sector,

internet

retailer

Amazon.com

was

a

key

driver

of

performance.

The

shop-from-home

trend

strengthened

during

the

pandemic

lockdown,

bolstering

results

for

the

company.

Within

the

automotive

industry,

automobile

company

Tesla

was

a

key

driver

of

returns.

Home

improvement

retailers

led

the

retailing

industry,

as

people

stuck

at

home

took

on

home

improvement

projects.

Communication

services

was

the

third

best

performing

sector

for

the

period.

Facebook

and

Alphabet

drove

performance.

As

people

stayed

home,

they

spent

more

time

online.

Advertising

revenue

increased

for

many

online

platforms

due

to

increased

site

traffic.

Several

media

companies

that

purchased

streaming

services

during

the

period

also

outperformed

the

broader

market.

In

a

period

of

such

strong

equity

returns,

only

the

energy

sector

posted

negative

results.

Energy

sector

performance

was

hampered

by

several

factors.

Prior

to

the

start

of

the

period,

Russia

and

Saudi

Arabia

began

a

conflict

that

drove

down

the

price

of

crude

oil.

In

addition,

global

stay-at-home

orders

decreased

demand

for

gasoline,

as

work

commuters

were

a

substantial

component

of

consumer

demand.

Companies

within

the

oil,

gas

and

consumable

fuels

industry

were

particularly

hard

hit.

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

the

spread

of

COVID-19

and

resulting

economic

4

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

U.S.

Federal

Reserve

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

16,

2020

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

net

asset

value.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

Source:

Morningstar,

Inc.

—

The

Morningstar

®

US

Large

Cap

Index

SM

is

a

float-

adjusted

market

capitalization

weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

large-capitalization

stocks.

The

index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

top

70%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

5

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

inception

on

April

7,

2020

through

October

31,

2020,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

since

inception

on

April

7,

2020

through

October

31,

2020,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

produced

a

total

return

of

32.27%.

1

This

compares

with

a

32.40%

total

return

for

the

fund's

benchmark,

the

Morningstar

®

US

Mid

Cap

Index

SM

(the

“Index”),

for

the

period

since

4/7/20

through

10/31/20.

2,3

Mid-cap

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence

and

stock

valuations.

The

Fund’s

Investment

Approach

The

fund

seeks

to

match

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Index.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

U.S.

medium-

capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(“REITs”)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-

trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

falls

approximately

between

the

bottom

10%-30%

of

the

remaining

securities

comprising

the

investable

universe.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

COVID-19

and

Central

Banks

Influence

Markets

Equities

began

a

rally

in

April

2020

that

went

on

for

much

of

the

reporting

period.

Prior

to

April,

an

unprecedented

amount

of

stimulus

and

financial

support

was

briskly

deployed

by

global

central

banks

and

governments.

This

helped

to

buoy

investor

confidence

and

support

security

valuations.

Investors

began

to

anticipate

a

move

toward

economic

normalization,

as

lockdown

measures

eased,

and

the

number

of

COVID-19

cases

fell

across

much

of

the

world.

Although

punctuated

by

periodic

bouts

of

volatility,

the

upward

trend

generally

lasted

through

August

2020.

However,

the

recovery

was

company

and

sector

specific,

as

several

industries

that

remained

affected

by

COVID-19

prevention

procedures

did

not

fully

participate.

In

September

2020,

volatility

crept

back

into

equity

markets,

as

increasing

COVID-19

infection

rates

began

to

concern

investors.

By

October,

several

countries

had

begun

to

reinstitute

some

degree

of

behavioral

restriction

among

residents

in

order

to

stem

the

spread

of

the

virus.

In

addition,

mounting

political

rhetoric

in

the

U.S.

due

to

the

election,

renewed

trade

difficulties

between

the

U.S.

and

China

and

other

geopolitical

events

stoked

investor

anxiety.

Stocks

continued

to

exhibit

volatility

through

the

end

of

the

period.

According

to

the

Morningstar

family

of

indices,

small-cap

stocks

generally

outperformed

both

their

mid-cap

and

large-cap

counterparts

during

the

period.

Information

Technology

Stocks

Lead

the

Market

The

information

technology

sector

led

the

index

over

the

reporting

period.

Software

companies

led

the

charge,

their

revenues

boosted

by

business

spending

on

products

that

allowed

their

employees

to

work

from

home.

Cloud

computing

businesses

also

performed

well.

The

shift

to

working

from

home

increased

demand

for

cloud

computing

services.

Semiconductors

and

semiconductor

equipment

was

also

a

top

performing

industry,

as

demand

was

high

for

chips

used

in

phones,

gaming

and

for

industrial

purposes.

Health

care

was

also

a

top

performing

sector,

led

by

health

care

equipment

manufacturing

companies.

Hospitals

and

home

health

care

companies

placed

orders

for

equipment

such

as

respirators

in

order

to

boost

their

stockpiles,

bolstering

revenues

for

companies

manufacturing

this

equipment.

Diagnostic

test

manufacturers

also

saw

a

demand

for

their

products

increase.

Within

the

consumer

discretionary

sector,

internet

retailers

were

a

key

driver

of

performance.

The

shop-from-home

trend

strengthened

during

the

pandemic

lockdown,

as

consumers

were

reluctant

to

visit

brick-and-mortar

retail

stores,

bolstering

results

for

these

companies.

Home

improvement

retailers

led

the

retailing

industry,

as

people

stuck

at

home

took

on

home

improvement

projects.

In

a

period

of

such

strong

equity

returns,

no

sector

posted

negative

results.

However,

the

utilities,

consumer

staples

and

energy

sectors

did

underperform

the

broader

market.

During

the

reporting

period,

investors

generally

favored

growth

companies.

Companies

within

these

three

sectors

tend

to

be

more

value-

oriented,

dividend

payers.

The

utilities

sector

saw

an

additional

headwind

towards

the

end

of

the

period,

as

investors

became

concerned

about

delinquent

utility

bills

and

discontinued

services

to

households

as

virus-related

consumer

protections

lapse.

The

energy

sector

continued

to

struggle

throughout

the

seven

months

due

in

part

to

depressed

oil

prices.

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

the

spread

of

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

U.S.

Federal

Reserve

remain

dedicated

to

6

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

16,

2020

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

net

asset

value.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

Source:

Morningstar,

Inc.

—

The

Morningstar

®

US

Mid

Cap

Index

SM

is

a

float-adjusted

market

capitalization

weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

mid-capitalization

stocks.

The

index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

falls

approximately

between

the

bottom

10%-30%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

The

prices

of

mid-cap

company

stocks

tend

to

be

more

volatile

than

the

prices

of

large

company

stocks,

mainly

because

these

companies

have

less

established

and

more

volatile

earnings

histories.

They

also

tend

to

be

less

liquid

than

larger

company

stocks.

7

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

inception

on

April

7,

2020

through

October

31,

2020,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

since

inception

on

April

7,

2020

through

October

31,

2020,

the

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

produced

a

total

return

of

35.30%.

1

This

compares

with

a

35.24%

total

return

for

the

fund's

benchmark,

the

Morningstar

®

US

Small

Cap

Index

SM

(the

“Index”),

for

the

period

since

4/7/20

through

10/31/20.

2,3

Small-cap

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence

and

stock

valuations.

The

Fund’s

Investment

Approach

The

fund

seeks

to

match

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Index.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

U.S.

small-

capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(“REITs”)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-

trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

bottom

3%-10%

of

the

remaining

securities

comprising

the

investable

universe.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

COVID-19

and

Central

Banks

Influence

Markets

Equities

began

a

rally

in

April

2020

that

went

on

for

much

of

the

reporting

period.

Prior

to

April,

an

unprecedented

amount

of

stimulus

and

financial

support

was

briskly

deployed

by

global

central

banks

and

governments.

This

helped

to

buoy

investor

confidence

and

support

security

valuations.

Investors

began

to

anticipate

a

move

toward

economic

normalization,

as

lockdown

measures

eased,

and

the

number

of

COVID-19

cases

fell

across

much

of

the

world.

Although

punctuated

by

periodic

bouts

of

volatility,

the

upward

trend

generally

lasted

through

August

2020.

However,

the

recovery

was

company

and

sector

specific,

as

several

industries

that

remained

affected

by

COVID-19

prevention

procedures

did

not

fully

participate.

In

September

2020,

volatility

crept

back

into

equity

markets,

as

increasing

COVID-19

infection

rates

began

to

concern

investors.

By

October,

several

countries

had

begun

to

reinstitute

some

degree

of

behavioral

restriction

among

residents

in

order

to

stem

the

spread

of

the

virus.

In

addition,

mounting

political

rhetoric

in

the

U.S.

due

to

the

election,

renewed

trade

difficulties

between

the

U.S.

and

China

and

other

geopolitical

events

stoked

investor

anxiety.

Stocks

continued

to

exhibit

volatility

through

the

end

of

the

period.

According

to

the

Morningstar

family

of

indices,

small-cap

stocks

generally

outperformed

both

their

mid-cap

and

large-cap

counterparts

during

the

period.

Consumer

Discretionary

Stocks

Lead

the

Market

The

consumer

discretionary

sector

led

the

index

over

the

reporting

period.

Within

the

consumer

discretionary

sector,

internet

and

direct

marketing

retailers

were

a

key

driver

of

performance.

The

shop-from-home

trend

strengthened

during

the

pandemic

lockdown,

as

consumers

were

reluctant

to

visit

brick-and-mortar

retail

stores,

bolstering

results

for

these

companies.

Home

improvement

retailers

also

outperformed,

as

people

stuck

at

home

took

on

home

improvement

projects.

Within

the

hotels,

restaurants

and

leisure

industry,

online

betting

and

gaming

providers

posted

strong

results.

In

the

information

technology

sector,

software

companies

led

the

charge,

their

revenues

boosted

by

business

spending

on

products

that

allowed

their

employees

to

work

from

home.

Cloud

computing

businesses

also

performed

well.

The

shift

to

working

from

home

increased

demand

for

cloud

computing

services.

Semiconductors

and

semiconductor

equipment

was

also

a

top

performing

industry,

as

demand

was

high

for

chips

used

in

phones,

gaming

and

for

industrial

purposes.

Health

care

was

also

a

top

performing

sector,

led

by

biotechnology

and

pharmaceutical

companies.

Many

small,

nimble

drug

and

therapy

developers

often

partner

with

larger

companies

in

order

to

benefit

from

their

manufacturing

and

distribution

capabilities.

Many

such

partnerships

cropped

up,

as

small-cap

biotechnology

companies

worked

to

develop

therapies

and

possible

cures

for

COVID-19.

Elsewhere

in

the

sector,

health

care

equipment

and

supply

companies

also

performed

well.

Hospitals

and

home

health

care

companies

provided

strong

demand

for

equipment

and

supplies.

In

a

period

of

such

strong

equity

returns,

utilities

was

the

only

sector

to

post

negative

results.

During

the

reporting

period,

investors

generally

favored

growth

companies.

Utility

companies

tend

to

be

more

value-oriented,

dividend

payers.

Throughout

the

period,

wildfires

and

hurricanes

affected

many

areas

of

the

U.S.,

financially

hurting

many

small,

local

utility

providers.

In

addition,

the

sector

saw

an

additional

headwind

towards

the

end

of

the

period,

as

investors

became

concerned

about

delinquent

utility

bills

and

discontinued

services

to

households

as

virus-related

consumer

protections

begin

to

lapse.

8

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

the

spread

of

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

the

U.S.

government

and

U.S.

Federal

Reserve

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

16,

2020

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

net

asset

value.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

Source:

Morningstar,

Inc.

—

The

Morningstar

®

US

Small

Cap

Index

SM

is

a

float-adjusted

market

capitalization

weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

small-capitalization

stocks.

The

index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

bottom

3%-10%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

Morningstar

®

is

a

service

mark

of Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

The

prices

of

small

company

stocks

tend

to

be

more

volatile

than

the

prices

of

large

company

stocks,

mainly

because

these

companies

have

less

established

and

more

volatile

earnings

histories.

They

also

tend

to

be

less

liquid

than

larger

company

stocks.

The

fund

may,

but

is

not

required,

to

use

derivative

instruments,

such

as

options,

futures,

options

on

futures,

forward

contracts,

swap

agreements

and

other

credit

derivatives.

A

small

investment

in

derivatives

could

have

a

potentially

large

impact

on

the

fund’s

performance.

The

use

of

derivatives

involves

risks

different

from,

or

possibly

greater

than,

the

risks

associated

with

investing

directly

in

the

underlying

assets.

9

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

since

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

the

BNY

Mellon

International

Equity

ETF

produced

a

total

return

of

13.49%

at

net

asset

value

(“NAV”).

1

This

compares

with

a

13.34%

total

return

for

the

fund’s

benchmark,

the

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

(the

“Index”),

for

the

period

since

4/22/20

through

10/31/20.

2,3

International

equities

gained

ground

during

the

reporting

period

amid

central

bank

policies

that

supported

investor

confidence

and

stock

valuations.

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

,

depositary

receipts

based

on

securities

comprising

the

Index,

exchange-traded

funds

(“ETFs”)

providing

exposure

to

such

securities,

and

derivatives

with

economic

characteristics

similar

to

such

securities

or

the

Index.

The

fund’s

derivatives

investments

may

include

futures,

currency

forwards,

total

return

swaps

and

structured

notes.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

developed

market

(excluding

the

United

States)

large-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(“REITs”)),

issued

by

developed

market

companies

(excluding

the

United

States)

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

The

Index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

COVID-19

and

Central

Banks

Influence

Markets

Equities

began

a

rally

in

April

2020

that

went

on

for

much

of

the

reporting

period.

Prior

to

April,

an

unprecedented

amount

of

stimulus

and

financial

support

was

briskly

deployed

by

global

central

banks

and

governments.

This

helped

to

buoy

investor

confidence

and

support

security

valuations.

Investors

began

to

anticipate

a

move

toward

economic

normalization,

as

lockdown

measures

eased,

and

the

number

of

COVID-19

cases

fell

across

much

of

the

world.

Although

punctuated

by

periodic

bouts

of

volatility,

the

upward

trend

generally

lasted

through

August

2020.

However,

the

recovery

was

company

and

sector

specific,

as

several

industries

that

remained

affected

by

COVID-19

prevention

procedures

did

not

fully

participate.

In

September

2020,

volatility

crept

back

into

equity

markets,

as

increasing

COVID-19

infection

rates

began

to

concern

investors.

By

October,

several

countries

had

begun

to

reinstitute

some

degree

of

behavioral

restriction

among

residents

in

order

to

stem

the

spread

of

the

virus.

In

addition,

mounting

political

rhetoric

in

the

U.S.

due

to

the

election,

renewed

trade

difficulties

between

the

U.S.

and

China

and

other

geopolitical

events

stoked

investor

anxiety.

Stocks

continued

to

exhibit

volatility

through

the

end

of

the

period.

Industrials

Sector

Leads

Index

Returns

The

industrials

sector

led

the

Index

during

the

period.

Engineering

and

construction

and

heavy

equipment

manufacturers

located

in

developed

Europe

and

Asia

posted

the

best

performance.

Within

the

financials

sector,

Australia-based

banks

performed

particularly

well.

These

institutions

benefited

from

renewed

economic

activity

in

China.

Canada-based

banks

also

outperformed

the

broader

market.

Insurance

companies

also

rebounded

swiftly

during

the

reporting

period.

Investor

concerns

over

potential

COVID-related

losses

abated,

allowing

stock

prices

within

the

industry

to

rebound.

Within

the

consumer

discretionary

sector,

strong

automobile

sales

in

Asia

helped

make

the

automotive

industry

the

top

performing

industry.

Household

durables

and

direct

marketing

retail

companies

also

did

well

due

to

people

staying

at

home

and

shopping

online.

In

a

period

of

such

strong

equity

returns,

only

the

energy

sector

posted

negative

results.

Energy

sector

performance

was

hampered

by

several

factors.

Prior

to

the

start

of

the

period,

Russia

and

Saudi

Arabia

began

a

conflict

that

drove

down

the

price

of

crude

oil.

In

addition,

global

stay-at-home

orders

decreased

demand

for

gasoline,

as

work

commuters

were

a

substantial

component

of

consumer

demand.

There

has

also

been

a

shift

towards

renewable

energy

sources,

further

straining

traditional

commodity

companies.

Companies

within

the

oil,

gas

and

consumable

fuels

industry

were

particularly

hard

hit

by

this

combination

of

factors.

From

a

country

perspective,

the

United

Kingdom

(UK),

which

is

a

significant

weight

within

the

Index,

lagged

the

broader

market.

In

addition

to

facing

an

economic

downturn,

the

region

has

been

hurt

by

additional

uncertainties

surrounding

Brexit.

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

the

spread

of

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

central

banks

and

governments

across

the

globe

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

16,

2020

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

10

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

Source:

Morningstar

Inc.

—

The

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

developed

market

(excluding

the

United

States)

large-capitalization

stocks.

A

country

is

considered

developed

if

it

meets

the

following

criteria:

(i)

its

annual

per

capita

gross

national

income

falls

in

the

World

Bank’s

high-income

category

for

the

most

recent

three

years;

(ii)

it

has

not

had

any

broad-based

discriminatory

controls

against

non-domiciled

investors

for

the

most

recent

three

years;

and

(iii)

its

stock

markets

exhibit

the

following

characteristics:

transparency,

market

regulation,

operational

efficiency,

and

the

absence

of

broad-based

investment

restrictions.

The

index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

developed

market

companies

(excluding

the

United

States)

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

Securities

not

previously

part

of

the

last

reconstitution

are

excluded

from

a

current

reconstitution

if

the

security

has

20

or

more

non-trading

days

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

25%

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Securities

previously

part

of

the

last

reconstitution

are

provided

a

one-time

buffer

and

not

excluded

unless

the

security

has

30

or

more

non-trading

days

(20

or

more

non-trading

days

after

the

one-time

buffer)

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

20%

(bottom

25%

after

the

one-time

buffer)

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Of

the

remaining

securities,

the

index

includes

large

capitalization

securities

from

each

eligible

country,

targeting

the

top

70%

of

stocks

by

market

capitalization

from

each

eligible

country.

Investors

cannot

invest

directly

in

any

index.

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Currencies

are

subject

to

the

risk

that

those

currencies

will

decline

in

value

relative

to

a

local

currency,

or,

in

the

case

of

hedged

positions,

that

the

local

currency

will

decline

relative

to

the

currency

being

hedged.

Each

of

these

risks

could

increase

the

fund’s

volatility.

Investing

in

foreign-denominated

and/or

domiciled

securities

involves

special

risks,

including

changes

in

currency

exchange

rates,

political,

economic,

and

social

instability,

limited

company

information,

differing

auditing

and

legal

standards

and

less

market

liquidity.

These

risks

generally

are

greater

with

emerging-market

countries.

Diversification

cannot

assure

a

profit

or

protect

against

loss.

The

fund

may,

but

is

not

required,

to

use

derivative

instruments,

such

as

options,

futures,

options

on

futures,

forward

contracts,

swap

agreements

and

other

credit

derivatives.

A

small

investment

in

derivatives

could

have

a

potentially

large

impact

on

the

fund’s

performance.

The

use

of

derivatives

involves

risks

different

from,

or

possibly

greater

than,

the

risks

associated

with

investing

directly

in

the

underlying

assets.

11

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

as

provided

by

Thomas

J.

Durante,

CFA,

David

France,

CFA,

Todd

Frysinger,

CFA,

Vlasta

Sheremeta,

CFA,

Michael

Stoll,

and

Marlene

Walker

Smith,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

since

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

the

BNY

Mellon

Emerging

Markets

Equity

ETF

produced

a

total

return

of

26.52%

at

net

asset

value

(“NAV”).

1

In

comparison,

the

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

(the

“Index”),

the

fund’s

benchmark,

returned

26.95%

for

the

period

since

4/22/20

through

10/31/20.

2,3

Emerging-market

equities

gained

value

during

the

reporting

period,

due

largely

to

supportive

central

bank

policies,

success

in

constraining

COVID-19

contagion

in

many

of

the

regions

and

subsequent

return

to

economic

activity.

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

the

performance

of

the

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

equity

securities

comprising

the

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

,

depositary

receipts

based

on

securities

comprising

the

Index,

exchange-traded

funds

(“ETFs”)

providing

exposure

to

such

securities,

and

derivatives

with

economic

characteristics

similar

to

such

securities

or

the

index.

The

fund’s

derivatives

investments

may

include

futures,

currency

forwards,

total

return

swaps

and

structured

notes.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

emerging

market

large-capitalization

stocks.

The

index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(“REITs”)),

issued

by

emerging

market

companies

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

pre-

ceding

six-month

period,

and

market

capitalization.

The

index

rebalances

quarterly

in

March,

June,

September

and

December,

and

reconstitutes

semi-annually

in

June

and

December.

COVID-19

and

Central

Banks

Influence

Markets

Emerging-market

equities

began

a

rally

in

April

2020

that

went

on

for

much

of

the

reporting

period.

Prior

to

April,

an

unprecedented

amount

of

stimulus

and

financial

support

was

briskly

deployed

by

global

central

banks

and

governments.

This

helped

to

buoy

investor

confidence

and

support

security

valuations.

Investors

began

to

anticipate

a

move

toward

economic

normalization,

as

lockdown

measures

eased,

and

the

number

of

COVID-19

cases

fell

across

much

of

the

world.

However,

the

recovery

was

company

and

sector

specific,

as

several

industries

that

remained

affected

by

COVID-19

prevention

procedures

did

not

fully

participate.

In

September

2020,

volatility

crept

back

into

developed

equity

markets

as

increasing

COVID-19

infection

rates

began

to

concern

investors.

However,

this

resurgence

in

volatility

did

not

affect

many

emerging-market

countries.

Places

such

as

China

and

South

Korea,

which

experienced

widespread

COVID-19

infection

earlier

than

many

other

countries,

led

emerging-market

equity

valuations

higher.

Investors

in

companies

based

in

these

countries

were

not

spooked

by

the

possibility

of

a

second

wave

of

virus-related

shutdowns,

because

these

countries

had

been

effective

in

containing

the

spread

of

COVID-19

and

had

experienced

a

more

sustained

resurgence

in

economic

activity

than

many

other

areas

of

the

world.

Emerging-market

indices

generally

outperformed

their

developed

market

counterparts

in

September

and

October

2020

by

continuing

to

post

positive

returns

these

last

few

months

of

the

period.

Consumer

Discretionary

Stocks

Lead

the

Market

The

consumer

discretionary

sector

led

the

Index

over

the

reporting

period.

This

was

largely

due

to

companies

based

in

China.

The

Chinese

economy

and

markets

saw

dislocation

early

in

the

period

due

to

the

virus,

but

consumers

bounced

back

in

August,

powering

the

economy.

Control

of

viral

spread,

as

well

as

stimulus

payments,

assisted

the

economic

recovery.

Retail

sales

rebounded

significantly

after

the

lockdown

was

lifted.

Automobile

sales

were

also

strong.

In

information

technology,

China-

and

South

Korea-based

companies

drove

sector

performance.

People

staying

at

home

drove

demand

for

online

video

conferencing

and

shopping.

Many

people

used

China-based

technology

companies

to

complete

these

tasks.

Semiconductor

companies

also

flourished.

High

demand

for

chips

drove

stock

prices

higher.

In

the

communication

services

sector,

mobile

gaming

and

online

entertainment

companies

posted

the

best

performance.

In

a

period

of

such

strong

equity

returns,

no

sector

posted

negative

results.

However,

the

utilities

and

energy

sectors

did

underperform

the

broader

market.

Economic

growth

concerns

across

several

emerging-market

countries

caused

a

headwind

for

the

utilities

sector.

Several

countries

experienced

widespread

shutdowns

of

utility

services

during

the

reporting

period.

Mounting

political

issues

in

several

countries

are

presenting

challenges

for

utilities

companies.

Energy

sector

performance

was

hampered

by

several

factors.

Prior

to

the

start

of

the

period,

Russia

and

Saudi

Arabia

began

a

conflict

that

drove

down

the

price

of

crude

oil.

In

addition,

global

stay-at-home

orders

decreased

demand

for

gasoline,

as

work

commuters

were

a

substantial

component

of

consumer

demand.

From

a

country

perspective,

companies

based

in

Turkey

struggled.

The

country’s

export

numbers

have

fallen

and

tourism,

a

significant

source

of

income,

decreased

significantly

due

to

the

pandemic.

The

country

has

suffered

severe

currency

depreciation,

and

investors

are

concerned

the

government

may

not

be

able

to

pay

back

its

foreign

debt.

12

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

Replicating

the

Performance

of

the

Index

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

macroeconomic

trends,

it

is

worth

noting

that

while

the

spread

of

COVID-19

and

resulting

economic

implications

continue

to

impact

markets

and

the

economy,

central

banks

and

governments

across

the

globe

remain

dedicated

to

supporting

capital

markets

and

the

economy

with

various

fiscal

and

monetary

techniques.

As

always,

we

continue

to

monitor

factors

that

affect

the

fund’s

investments.

November

16,

2020

ETFs

trade

like

stocks,

are

subject

to

investment

risk,

including

possible

loss

of

principal.

ETF

shares

are

listed

on

an

exchange,

and

shares

are

generally

purchased

and

sold

in

the

secondary

market

at

market

price.

At

times,

the

market

price

may

be

at

a

premium

or

discount

to

the

ETF’s

per

share

NAV.

In

addition,

ETFs

are

subject

to

the

risk

that

an

active

trading

market

for

an

ETF’s

shares

may

not

develop

or

be

maintained.

Buying

or

selling

ETF

shares

on

an

exchange

may

require

payment

of

brokerage

commissions.

Source:

Morningstar

Inc.

—

The

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

emerging

market

large-capitalization

stocks.

A

country

is

considered

emerging

if:

(i)

its

annual

per

capita

gross

national

income

does

not

fall

in

the

World

Bank’s

high-

income

category

for

the

most

recent

three

years;

(ii)

it

has

had

broad-based

discriminatory

controls

against

non-domiciled

investors

during

the

most

recent

three

years;

and

(iii)

its

stock

markets

do

not

exhibit

any

of

the

following

characteristics:

transparency,

market

regulation,

operational

efficiency,

and

the

absence

of

broad-based

investment

restrictions.

The

index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

emerging

market

companies

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

Securities

not

previously

part

of

the

last

reconstitution

are

excluded

from

a

current

reconstitution

if

the

security

has

20

or

more

non-trading

days

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

25%

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Securities

previously

part

of

the

last

reconstitution

are

provided

a

one-time

buffer

and

not

excluded

unless

the

security

has

30

or

more

non-trading

days

(20

or

more

non-trading

days

after

the

one-time

buffer)

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

20%

(bottom

25%

after

the

one-time

buffer)

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Of

the

remaining

securities,

the

Index

includes

large

capitalization

securities

from

each

eligible

country,

targeting

the

top

70%

of

stocks

by

market

capitalization

from

each

eligible

country.

Investors

cannot

invest

directly

in

any

index.

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Equities

are

subject

generally

to

market,

market

sector,

market

liquidity,

issuer

and

investment

style

risks,

among

other

factors,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Emerging

markets

tend

to

be

more

volatile

than

the

markets

of

more

mature

economies

and

generally

have

less

diverse

and

less

mature

economic

structures

and

less

stable

political

systems

than

those

of

developed

countries.

The

securities

of

companies

located

in

emerging

markets

are

often

subject

to

rapid

and

large

changes

in

price.

An

investment

in

this

fund

should

be

considered

only

as

a

supplement

to

a

complete

investment

program

for

those

investors

willing

to

accept

the

greater

risks

associated

with

investing

in

emerging-market

countries.

Investing

internationally

involves

special

risks,

including

changes

in

currency

exchange

rates,

political,

economic,

and

social

instability,

a

lack

of

comprehensive

company

information,

differing

auditing

and

legal

standards

and

less

market

liquidity.

These

risks

generally

are

greater

with

emerging-market

countries

than

with

more

economically

and

politically

established

foreign

countries.

The

fund

may,

but

is

not

required,

to

use

derivative

instruments,

such

as

options,

futures,

options

on

futures,

forward

contracts,

swap

agreements

and

other

credit

derivatives.

A

small

investment

in

derivatives

could

have

a

potentially

large

impact

on

the

fund’s

performance.

The

use

of

derivatives

involves

risks

different

from,

or

possibly

greater

than,

the

risks

associated

with

investing

directly

in

the

underlying

assets.

13

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

inception

on

April

22,

2020

through

October

31,

2020,

as

provided

by

Gregory

A.

Lee,

CFA

and

Nancy

G.

Rogers,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

from

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

the

BNY

Mellon

Core

Bond

ETF

produced

a

total

return

of

1.30%.

1

In

comparison,

the

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

1.41%

for

the

period

since

4/22/20

through

10/31/20.

2

U.S.

investment-grade,

fixed-income

securities

produced

positive

returns

over

the

reporting

period,

in

the

wake

of

falling

rates

and

supportive

central

bank

policies

undertaken

in

response

to

COVID-19.

Because

the

fund

cannot

hold

all

of

the

securities

in

the

Index,

the

difference

in

returns

between

the

fund

and

the

Index

is

due

primarily

to

sampling

risk,

the

choice

of

securities

selected

to

replicate

the

Index’s

performance.

The

Fund’s

Investment

Approach

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

bonds

comprising

the

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

and

TBA

transactions

representing

bonds

included

in

the

Index.

The

Index

is

designed

to

measure

the

investment

grade,

U.S.

dollar-denominated,

fixed-rate

taxable

bond

market.

The

index

includes

Treasuries,

government-related

and

corporate

securities,

mortgage-backed

pass-through

securities

(agency

fixed-rate),

commercial

mortgage-backed

securities

(agency

and

non-agency)

and

other

asset-backed

securities

having

at

least

one

year

until

final

maturity.

Treasury,

government-related

and

corporate

securities

must

have

$300

million

or

more

par

amount

outstanding.

For

mortgage-backed

pass-through

securities,

pool

aggregates

must

have

$1

billion

or

more

par

amount

outstanding.

Asset-backed

securities

must

have

a

minimum

deal

size

of

$500

million

and

a

minimum

tranche

size

of

$25

million.

Commercial

mortgage-

backed

securities

must

have

a

minimum

deal

size

of

$500

million

with

at

least

$300

million

outstanding

and

a

minimum

tranche

size

of

$25

million.

To

be

included

in

the

Index,

securities

must

be

rated

investment

grade

(Baa3/BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Securities

in

the

index

are

updated

on

the

last

business

day

of

each

month.

The

fund

seeks

to

maintain

a

dollar-weighted

average

maturity

consistent

with

that

of

the

Index.

With

Central

Bank

Support

and

Economic

Growth,

Markets

Rebound

from

COVID-19

Prior

to

the

fund’s

launch,

the

emergence

of

the

pandemic

early

in

2020

resulted

in

nationwide

stay-at-home

orders

that

closed

non-essential

businesses

and

shut

down

wide

sections

of

the

economy,

resulting

in

a

plunge

in

economic

growth

and

massive

unemployment.

Volatility

erupted

in

March

2020,

resulting

in

a

flight

to

quality

that

caused

Treasury

rates

to

fall

to

historic

lows

over

the

next

few

months

and

led

to

wider

spreads

in

many

segments

of

the

market.

In

the

corporate

market,

concerns

about

the

economic

slowdown

and

its

effect

on

corporate

balance

sheets

took

hold,

causing

yield

spreads

to

rise.

The

market

began

to

calm

down

when

the

U.S.

Federal

Reserve

(the

“Fed”)

launched

various

relief

programs.

In

addition

to

emergency

rate

cuts

in

March

2020,

the

Fed

initiated

programs

to

purchase

assets,

including

corporate

bonds,

exchange-traded

funds,

commercial

paper

and

structured

products.

As

a

result,

spreads

in

many

market

segments

narrowed.

The

market

continued

to

benefit

during

the

reporting

period

as

the

Fed

indicated

that

it

would

remain

committed

to

supporting

markets

and

keeping

short-term

rates

low

until

2023.

The

Fed

also

modified

its

approach

to

inflation,

indicating

that

instead

of

targeting

a

2%

rate,

it

would

tolerate

an

average

rate

of

2%,

suggesting

that

rates

above

2%

would

be

tolerable

over

the

short

term.

Corporate

Bonds

and

Other

Risk

Assets

Bolster

Returns

The

fund

was

launched

in

late

April

2020

to

avoid

the

volatility

that

occurred

earlier

in

the

year.

As

a

result,

the

launch

took

place

after

the

support

programs

implemented

by

the

Fed

were

announced.

Nevertheless,

as

with

the

broader

market,

the

fund

benefited

from

these

extensive

asset

purchase

programs.

Corporate

debt,

in

particular,

outperformed

duration-neutral

treasuries,

during

the

period.

In

the

corporate

market,

the

financial

sector

led

the

way.

Securitized

product

also

outperformed.

In

contrast,

Treasuries

lagged

the

Index,

as

Fed

support

programs

and

signs

of

economic

momentum

benefited

other

segments.

In

mortgage-backed

segments,

prepayments

have

weighed

on

performance,

but

support

from

the

Fed

steadied

the

market.

The

market

as

a

whole

benefited

from

rapidly

implemented

monetary

and

fiscal

policy

steps.

The

Fed’s

Secondary

Market

Corporate

Credit

Facility (SMCCF),

Term

Asset

Backed

Securities

Loan

Facility

(TALF),

and

other

programs,

which

facilitated

purchases

of

Treasuries,

corporate

bonds,

mortgage-

backed

securities

and

asset-backed

securities

by

the

Fed,

were

especially

helpful.

Replicating

the

Composition

of

the

Index

As

an

index

fund,

we

attempt

to

match

closely

the

returns

of

the

Index

by

approximating

its

composition

and

credit

quality.

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

the

macroeconomic

environment,

we

continue

to

monitor

factors

which

affect

the

fund’s

investments.

November

16,

2020

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

The

fund’s

return

reflects

the

absorption

of

certain

fund

expenses

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

pursuant

to

an

agreement.

Had

these

expenses

not

been

absorbed,

returns

14

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

would

have

been

lower.

Past

performance

is

no

guarantee

of

future

results.

Share

price,

yield

and

investment

return

fluctuate

such

that

upon

redemption,

fund

shares

may

be

worth

more

or

less

than

their

original

cost.

Source:

Lipper

Inc.

—

The

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

is

designed

to

measure

the

investment

grade,

U.S.

dollar-denominated,

fixed-rate

taxable

bond

market.

The

index

includes

Treasuries,

government-related

and

corporate

securities,

mortgage-backed

pass-through

securities

(agency

fixed-rate),

commercial

mortgage-backed

securities

(agency

and

non-agency)

and

other

asset-backed

securities

having

at

least

one

year

until

final

maturity.

Treasury,

government-related

and

corporate

securities

must

have

$300

million

or

more

par

amount

outstanding.

For

mortgage-backed

pass-through

securities,

pool

aggregates

must

have

$1

billion

or

more

par

amount

outstanding.

Asset-backed

securities

must

have

a

minimum

deal

size

of

$500

million

and

a

minimum

tranche

size

of

$25

million.

Commercial

mortgage-backed

securities

must

have

a

minimum

deal

size

of

$500

million

with

at

least

$300

million

outstanding

and

a

minimum

tranche

size

of

$25

million.

To

be

included

in

the

index,

securities

must

be

rated

investment

grade

(Baa3/

BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Bloomberg

®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS

®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

Investors

cannot

invest

directly

in

any

index.

Bonds

are

subject

generally

to

interest-rate,

credit,

liquidity

and

market

risks,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Generally,

all

other

factors

being

equal,

bond

prices

are

inversely

related

to

interest-rate

changes,

and

rate

increases

can

cause

price

declines.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Indexing

does

not

attempt

to

manage

market

volatility,

use

defensive

strategies,

or

reduce

the

effects

of

any

long-term

periods

of

poor

index

performance.

The

correlation

between

fund

and

index

performance

may

be

affected

by

the

fund’s

expenses

and

use

of

sampling

techniques,

changes

in

securities

markets,

changes

in

the

composition

of

the

index,

and

the

timing

of

purchases

and

redemptions

of

fund

shares.

15

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

as

provided

by

Gregory

A.

Lee,

CFA

and

Nancy

G.

Rogers,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

from

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

the

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

produced

a

total

return

of

3.94%.

1

In

comparison,

the

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

4.08%

for

the

period

since

4/22/2020

through

10/31/2020.

2

Short-term,

investment-grade

securities

produced

positive

returns

over

the

reporting

period,

in

the

wake

of

falling

rates

and

supportive

central

bank

policies

undertaken

in

response

to

the

economic

uncertainty

caused

by

COVID-19.

The

difference

in

returns

between

the

fund

and

the

Index

was

primarily

the

result

of

security

selection

and

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

seeks

to

track

the

performance

of

the

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

bonds

comprising

the

Index.

For

bonds,

“duration”

refers

to

an

investment’s

“interest-rate

risk,”

or

how

sensitive

a

bond

may

be

to

changes

in

interest

rates.

For

example,

the

market

price

of

a

fixed-income

security

with

a

duration

of

three

years

would

be

expected

to

decline

3%

if

interest

rates

rose

1%.

Conversely,

the

market

price

of

the

same

security

would

be

expected

to

increase

3%

if

interest

rates

fell

1%.

The

Index

is

designed

to

measure

the

market

for

investment-

grade,

U.S.

dollar-denominated,

fixed-rate,

taxable

corporate

bonds

with

one

to

five

years

left

to

maturity.

To

be

included

in

the

Index,

securities

must

have

$300

million

or

more

par

amount

outstanding

and

be

rated

investment

grade

(Baa3/BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

Index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Securities

in

the

Index

are

updated

on

the

last

business

day

of

each

month.

The

fund

seeks

to

maintain

a

dollar-weighted

average

maturity

consistent

with

that

of

the

index.

With

Central

Bank

Support

and

Economic

Growth,

Markets

Rebound

from

COVID-19

Prior

to

the

reporting

period,

the

emergence

of

the

pandemic

early

in

2020

resulted

in

nationwide

stay-at-home

orders

that

closed

non-essential

businesses

and

shut

down

wide

sections

of

the

economy,

resulting

in

a

plunge

in

economic

growth

and

massive

unemployment.

Volatility

erupted

in

March

2020,

resulting

in

a

flight

to

quality

that

caused

Treasury

rates

to

fall

to

historic

lows

over

the

next

few

months

and

led

to

wider

spreads

in

many

segments

of

the

market.

In

the

corporate

market,

concerns

about

the

economic

slowdown

and

its

effect

on

corporate

balance

sheets

took

hold,

causing

yield

spreads

to

rise.

But

the

market

began

to

calm

down

when

the

U.S.

Federal

Reserve

(the

“Fed”)

launched

various

relief

programs.

In

addition

to

emergency

rate

cuts

in

March

2020,

the

Fed

initiated

programs

to

purchase

assets,

including

corporate

bonds,

exchange

traded

funds,

commercial

paper

and

structured

products.

As

a

result,

spreads

in

many

market

segments

narrowed.

The

market

continued

to

benefit

during

the

reporting

period,

as

the

Fed

indicated

that

it

would

remain

committed

to

supporting

markets

and

keeping

short-term

rates

low

until

2023.

The

Fed

also

modified

its

approach

to

inflation,

indicating

that

instead

of

targeting

a

2%

rate,

it

would

tolerate

an

average

rate

of

2%,

suggesting

that

rates

above

2%

would

be

tolerable

over

the

short

term.

Corporate

Bonds

Bolster

Results,

Led

by

Financials

The

fund

was

launched

in

late

April

2020

to

avoid

the

volatility

that

occurred

earlier

in

the

year.

As

a

result,

the

launch

took

place

after

the

support

programs

implemented

by

the

Fed

were

announced.

Nevertheless,

as

with

the

broader

market,

the

fund

benefited

from

these

extensive

asset

purchase

programs.

Corporate

bonds

outperformed

duration-neutral

treasuries

during

the

period.

All

corporate

sectors

posted

positive

returns,

but

the

financial

sector

led

the

way.

The

market

as

a

whole

benefited

from

rapidly

implemented

monetary

and

fiscal

policy

steps.

The

Fed’s

Secondary

Market

Corporate

Credit

Facility (SMCCF),

Term

Asset

Backed

Securities

Loan

Facility

(TALF),

and

other

programs,

which

facilitated

purchases

of

Treasuries,

corporate

bonds,

mortgage-

backed

securities

and

asset-backed

securities

by

the

Fed,

were

especially

helpful.

Replicating

the

Composition

of

the

Index

As

an

index

fund,

we

attempt

to

match

closely

the

returns

of

the

Index

by

approximating

its

composition

and

credit

quality.

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

the

macroeconomic

environment,

we

continue

to

monitor

factors

which

affect

the

fund’s

investments.

November

16,

2020

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

The

fund’s

return

reflects

the

absorption

of

certain

fund

expenses

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

pursuant

to

an

agreement.

Had

these

expenses

not

been

absorbed,

returns

would

have

been

lower.

Past

performance

is

no

guarantee

of

future

results.

Share

price,

yield

and

investment

return

fluctuate

such

that

upon

redemption,

fund

shares

may

be

worth

more

or

less

than

their

original

cost.

Source:

Lipper

Inc.

—

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index

is

designed

to

measure

the

market

for

investment

grade,

U.S.

dollar-denominated,

fixed-

rate,

taxable

corporate

bonds

with

one

to

five

years

left

to

maturity.

To

be

included

in

the

index,

securities

must

have

$300

million

or

more

par

amount

outstanding

and

be

rated

investment

grade

(Baa3/BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

16

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

Investors

cannot

invest

directly

in

any

index.

BARCLAYS®

is

a

trademark and service

mark of Barclays Bank Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices. 

Neither

Bloomberg

nor

Barclays

is

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of the

index

or

any

data

included

therein.

Bonds

are

subject

generally

to

interest-rate,

credit,

liquidity

and

market

risks,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Generally,

all

other

factors

being

equal,

bond

prices

are

inversely

related

to

interest-rate

changes,

and

rate

increases

can

cause

price

declines.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Indexing

does

not

attempt

to

manage

market

volatility,

use

defensive

strategies,

or

reduce

the

effects

of

any

long-term

periods

of

poor

index

performance.

The

correlation

between

fund

and

index

performance

may

be

affected

by

the

fund’s

expenses

and

use

of

sampling

techniques,

changes

in

securities

markets,

changes

in

the

composition

of

the

index,

and

the

timing

of

purchases

and

redemptions

of

fund

shares.

17

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

For

the

period

since

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

as

provided

by

Paul

Benson,

CFA,

CAIA,

Manuel

Hayes

and

Stephanie

Shu,

CFA,

Portfolio

Managers

Market

and

Fund

Performance

Overview

For

the

period

from

the

fund’s

inception

on

April

22,

2020

through

October

31,

2020,

the

BNY

Mellon

High

Yield

Beta

ETF

produced

a

total

return

of

10.94%.

1

In

comparison,

the

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

(the

“Index”)

achieved

a

total

return

of

11.32%

for

the

period

since

4/22/20

through

10/31/20.

2

U.S.

high

yield

securities

produced

positive

returns

over

the

reporting

period,

in

an

environment

of

narrowing

spreads

and

supportive

central

bank

policies

undertaken

in

response

to

COVID-19.

A

significant

portion

of

the

difference

in

returns

between

the

fund

and

the

Index

was

the

result

of

operating

expenses

that

are

not

reflected

in

the

Index’s

results.

The

Fund’s

Investment

Approach

The

fund

uses

a

rules-based,

systematic

investment

strategy

that

seeks

to

track

an

index

designed

to

measure

the

performance

of

the

high

yield

bond

market.

To

pursue

its

goal,

the

fund

normally

invests

substantially

all

of

its

assets

in

bonds

comprising

the

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

and

derivatives

with

economic

characteristics

similar

to

such

bonds

or

the

index.

The

fund’s

derivatives

investments

may

include

credit

default

swap

indexes,

total

return

swaps,

structured

notes

and

futures.

The

Index

is

designed

to

measure

the

U.S.

dollar-denominated,

high

yield

(junk),

fixed-rate,

taxable

corporate

bond

market.

Bonds

included

in

the

Index

must

have

$150

million

or

more

par

amount

outstanding

and

at

least

one

year

until

final

maturity.

Bonds

are

classified

as

high

yield

if

the

middle

rating

of

Moody’s,

Fitch

and

S&P

is

Ba1/BB+/BB+

or

below.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Securities

in

the

Index

are

updated

on

the

last

business

day

of

each

month.

The

fund

seeks

to

maintain

a

dollar-weighted

average

maturity

consistent

with

that

of

the

Index.

With

Central

Bank

Support

and

Economic

Growth,

Markets

Rebound

from

COVID-19

Fixed-income

markets

enjoyed

a

strong

performance

during

the

reporting

period,

and

the

high

yield

market

experienced

a

robust

rebound.

Early

in

the

period,

nationwide

stay-at-home

orders

closed

non-essential

businesses

and

shut

down

wide

sections

of

the

economy,

resulting

in

a

plunge

in

economic

growth

and

massive

unemployment.

In

addition,

a

conflict

between

Saudi

Arabia

and

Russia

regarding

oil

production

amplified

the

tension.

Heightened

volatility

in

March

2020

resulted

in

a

flight

to

quality

that

caused

Treasury

rates

to

fall

to

historic

lows

in

March,

but

remained

roughly

flat

over

the

next

few

months

which

led

to

widened

spreads

in

fixed-income

markets.

In

the

corporate

high

yield

market,

spreads

widened

as

concerns

took

hold

about

the

economic

slowdown

and

its

effect

on

corporate

balance

sheets.

The

high

yield

market’s

rebound

began

with

the

U.S.

Federal

Reserve

(the

“Fed”)

relief

programs.

In

addition

to

emergency

rate

cuts

in

March

2020,

the

Fed

launched

programs

to

support

asset

prices

by

purchasing

assets,

including

investment-grade

and

high

yield

corporate

bonds

and

exchange-traded

funds

as

well

as

commercial

paper.

The

rebound

continued

as

the

economy

showed

signs

of

recovery

and

prospects

for

a

COVID-19

vaccine

improved.

Returns

Bolstered

by

Illiquidity

Premium

The

fund

was

launched

in

late

April

2020

to

avoid

the

volatility

that

occurred

earlier

in

the

year.

As

a

result,

the

launch

took

place

after

the

support

programs

implemented

by

the

Fed

were

announced.

Nevertheless,

as

with

the

broader

market,

the

fund

benefited

from

these

extensive

asset

purchase

programs.

The

Index’s

11.32%

return

for

the

reporting

period

outperformed

other

more

liquid,

high

yield

indexes.

This

relative

outperformance

came

in

part

due

its

less

liquid

nature,

as

the

Index

offers

an

illiquidity

premium

that

is

not

as

available

in

a

more

liquid

index.

The

fund

was

able

to

approximately

match

the

performance

of

the

Index

during

this

period

due

to

its

practice

of

maintaining

a

beta

of

1.0

versus

the

Index.

The

fund’s

positioning

in

favor

of

quality,

value

and

momentum

factors

contributed

positively

to

performance.

This

helped

to

offset

a

slight

drag

on

performance

caused

by

an

underweight

to

the

riskiest

energy

securities

during

May

and

June

2020.

All

segments

of

the

index

benefited

from

monetary

and

fiscal

action

during

the

period.

The

Fed

began

asset

purchases

of

Treasuries,

corporate

bonds,

mortgage-backed

securities,

agency

commercial,

mortgage-backed

securities

and

recently

downgraded

high

yield

debt

in

an

effort

to

stabilize

prices.

The

Fed

also

brought

back

its

Term

Asset

Backed

Securities

Loan

Facility

(TALF)

program

to

bolster

asset-backed

security

prices

and

encourage

the

availability

of

loans.

Replicating

the

Composition

of

the

Index

As

an

index

fund,

we

attempt

to

match

closely

the

returns

of

the

Index

by

approximating

its

composition

and

credit

quality.

Although

we

do

not

actively

manage

the

fund’s

investments

in

response

to

the

macroeconomic

environment,

we

continue

to

monitor

factors

which

affect

the

fund’s

investments.

November

16,

2020

Total

return

includes

reinvestment

of

dividends

and

any

capital

gains

paid.

The

fund’s

return

reflects

the

absorption

of

certain

fund

expenses

by

BNY

Mellon

ETF

Investment

Adviser,

LLC.

pursuant

to

an

agreement.

Had

these

expenses

not

been

absorbed,

returns

would

have

been

lower.

Past

performance

is

no

guarantee

of

future

results.

Share

price,

yield

18

DISCUSSION

OF

FUND

PERFORMANCE

(Unaudited)

(continued)

and

investment

return

fluctuate

such

that

upon

redemption,

fund

shares

may

be

worth

more

or

less

than

their

original

cost.

Source:

Lipper

Inc.

—

The

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

is

designed

to

measure

the

U.S.

dollar-denominated,

high

yield

(junk),

fixed-rate,

taxable

corporate

bond

market.

Bonds

included

in

the

index

must

have

$150

million

or

more

par

amount

outstanding

and

at

least

one

year

until

final

maturity.

Bonds

are

classified

as

high

yield

if

the

middle

rating

of

Moody’s,

Fitch

and

S&P

is

Ba1/BB+/BB+

or

below.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Bloomberg

®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS

®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

the

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

Investors

cannot

invest

directly

in

any

index.

Bonds

are

subject

generally

to

interest-rate,

credit,

liquidity

and

market

risks,

to

varying

degrees,

all

of

which

are

more

fully

described

in

the

fund’s

prospectus.

Generally,

all

other

factors

being

equal,

bond

prices

are

inversely

related

to

interest-rate

changes,

and

rate

increases

can

cause

price

declines.

Recent

market

risks

include

pandemic

risks

related

to

COVID-19.

The

effects

of

COVID-19

have

contributed

to

increased

volatility

in

global

markets

and

will

likely

affect

certain

countries,

companies,

industries

and

market

sectors

more

dramatically

than

others.

To

the

extent

the

fund

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

the

fund's

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors.

Indexing

does

not

attempt

to

manage

market

volatility,

use

defensive

strategies,

or

reduce

the

effects

of

any

long-term

periods

of

poor

index

performance.

The

correlation

between

fund

and

index

performance

may

be

affected

by

the

fund’s

expenses

and

use

of

sampling

techniques,

changes

in

securities

markets,

changes

in

the

composition

of

the

index

and

the

timing

of

purchases

and

redemptions

of

fund

shares.

FUND

PERFORMANCE

(Unaudited)

19

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Morningstar®

US

Large

Cap

Index

SM

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc..

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

on

4/7/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

large-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

top

70%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

Morningstar®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlight

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

NAV

Return

4/7/20

24.76%

Market

Price

Return

4/7/20

24.50%

Morningstar

®

US

Large

Cap

Index

SM

4/7/20

24.86%

FUND

PERFORMANCE

(Unaudited)

20

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Morningstar®

US

Mid

Cap

Index

SM

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc.

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

on

4/7/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

that

is

designed

to

measure

the

performance

of

U.S.

mid-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

falls

approximately

between

the

bottom

10%-30%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

Morningstar®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlights

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

NAV

Return

4/7/20

32.27%

Market

Price

Return

4/7/20

32.06%

Morningstar

®

US

Mid

Cap

Index

SM

4/7/20

32.40%

FUND

PERFORMANCE

(Unaudited)

21

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Morningstar®

US

Small

Cap

Index

SM

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc.

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

on

4/7/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

U.S.

small-capitalization

stocks.

The

Index’s

initial

universe

of

eligible

securities

includes

common

stock,

tracking

stock

and

shares

of

real

estate

investment

trusts

(REITs)

issued

by

U.S.

companies

and

traded

on

the

New

York

Stock

Exchange,

NASDAQ

or

NYSE

Market

LLC.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days

in

the

preceding

quarter

and

trading

volume

during

the

preceding

six-month

period.

Securities

with

more

than

10

non-trading

days

in

the

preceding

quarter,

or

that

have

a

bottom

25%

liquidity

score

as

ranked

by

the

index

provider

based

on

the

preceding

six-month

trading

volume,

are

excluded.

The

remaining

securities

comprise

the

investable

universe.

The

Index

is

composed

of

the

securities

of

companies

whose

cumulative

total

market

capitalization

represents

approximately

the

bottom

3%-10%

of

the

remaining

securities

comprising

the

investable

universe.

Investors

cannot

invest

directly

in

any

index.

Morningstar®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlights

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

NAV

Return

4/7/20

35.30%

Market

Price

Return

4/7/20

35.03%

Morningstar

®

US

Small

Cap

Index

SM

4/7/20

35.24%

FUND

PERFORMANCE

(Unaudited)

22

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Mellon

International

Equity

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Morningstar®

Developed

Markets

ex-US

Large

Cap

Index

SM

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc.

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

International

Equity

ETF

on

4/22/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

developed

market

(excluding

the

United

States)

large-capitalization

stocks.

A

country

is

considered

developed

if

it

meets

the

following

criteria:

(i)

its

annual

per

capita

gross

national

income

falls

in

the

World

Bank’s

high-income

category

for

the

most

recent

three

years;

(ii)

it

has

not

had

any

broad-based

discriminatory

controls

against

non-domiciled

investors

for

the

most

recent

three

years;

and

(iii)

its

stock

markets

exhibit

the

following

characteristics:

transparency,

market

regulation,

operational

efficiency,

and

the

absence

of

broad-based

investment

restrictions.

The

Index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

developed

market

companies

(excluding

the

United

States)

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

Securities

not

previously

part

of

the

last

reconstitution

are

excluded

from

a

current

reconstitution

if

the

security

has

20

or

more

non-

trading

days

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

25%

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Securities

previously

part

of

the

last

reconstitution

are

provided

a

one-time

buffer

and

not

excluded

unless

the

security

has

30

or

more

non-trading

days

(20

or

more

non-trading

days

after

the

one-time

buffer)

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

20%

(bottom

25%

after

the

one-time

buffer)

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Of

the

remaining

securities,

the

Index

includes

large

capitalization

securities

from

each

eligible

country,

targeting

the

top

70%

of

stocks

by

market

capitalization

from

each

eligible

country.

Investors

cannot

invest

directly

in

any

index.

Morningstar®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlights

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

International

Equity

ETF

NAV

Return

4/22/20

13.49%

Market

Price

Return

4/22/20

14.69%

Morningstar

®

Developed

Markets

ex-US

Large

Cap

Index

SM

4/22/20

13.34%

FUND

PERFORMANCE

(Unaudited)

23

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Emerging

Markets

Equity

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Morningstar®

Emerging

Markets

Large

Cap

Index

SM

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc.

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

Emerging

Markets

Equity

ETF

on

4/22/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

a

float-adjusted

market

capitalization

weighted

index

designed

to

measure

the

performance

of

emerging

market

large-capitalization

stocks.

A

country

is

considered

emerging

if:

(i)

its

annual

per

capita

gross

national

income

does

not

fall

in

the

World

Bank’s

high-income

category

for

the

most

recent

three

years;

(ii)

it

has

had

broad-based

discriminatory

controls

against

non-domiciled

investors

during

the

most

recent

three

years;

and

(iii)

its

stock

markets

do

not

exhibit

any

of

the

following

characteristics:

transparency,

market

regulation,

operational

efficiency,

and

the

absence

of

broad-based

investment

restrictions.

The

Index’s

initial

universe

of

eligible

securities

includes

equity

securities

(including

common

stock,

preferred

stock

and

shares

of

real

estate

investment

trusts

(REITs)),

issued

by

emerging

market

companies

and

traded

on

a

major

foreign

exchange.

At

each

reconstitution,

the

initial

universe

is

screened

to

exclude

securities

based

on

the

number

of

non-trading

days,

trading

volume

and

turnover

during

the

preceding

six-month

period,

and

market

capitalization.

Securities

not

previously

part

of

the

last

reconstitution

are

excluded

from

a

current

reconstitution

if

the

security

has

20

or

more

non-trading

days

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

25%

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Securities

previously

part

of

the

last

reconstitution

are

provided

a

one-time

buffer

and

not

excluded

unless

the

security

has

30

or

more

non-trading

days

(20

or

more

non-trading

days

after

the

one-time

buffer)

during

the

last

six

months

or

their

trading

volume

and

turnover

ranks

in

the

bottom

20%

(bottom

25%

after

the

one-time

buffer)

of

the

initial

universe

as

determined

by

the

index

provider

based

on

the

preceding

six

months

of

trade

data.

Of

the

remaining

securities,

the

Index

includes

large

capitalization

securities

from

each

eligible

country,

targeting

the

top

70%

of

stocks

by

market

capitalization

from

each

eligible

country.

Investors

cannot

invest

directly

in

any

index.

Morningstar®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlights

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

Emerging

Markets

Equity

ETF

NAV

Return

4/22/20

26.52%

Market

Price

Return

4/22/20

27.44%

Morningstar

®

Emerging

Markets

Large

Cap

Index

SM

4/22/20

26.95%

FUND

PERFORMANCE

(Unaudited)

24

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Mellon

Core

Bond

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Bloomberg

Barclays

US

Aggregate

Bond

Index

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc.

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

Core

Bond

ETF

on

4/22/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

designed

to

measure

the

investment

grade,

U.S.

dollar-denominated,

fixed-rate

taxable

bond

market.

The

Index

includes

Treasuries,

government-related

and

corporate

securities,

mortgage-backed

pass-through

securities

(agency

fixed-rate),

commercial

mortgage-backed

securities

(agency

and

non-agency)

and

other

asset-backed

securities

having

at

least

one

year

until

final

maturity.

Treasury,

government-related

and

corporate

securities

must

have

$300

million

or

more

par

amount

outstanding.

For

mortgage-backed

pass-through

securities,

pool

aggregates

must

have

$1

billion

or

more

par

amount

outstanding.

Asset-backed

securities

must

have

a

minimum

deal

size

of

$500

million

and

a

minimum

tranche

size

of

$25

million.

Commercial

mortgage-backed

securities

must

have

a

minimum

deal

size

of

$500

million

with

at

least

$300

million

outstanding

and

a

minimum

tranche

size

of

$25

million.

To

be

included

in

the

Index,

securities

must

be

rated

investment

grade

(Baa3/BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Investors

cannot

invest

directly

in

any

index.

Bloomberg®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlights

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

Core

Bond

ETF

NAV

Return

4/22/20

1.30%

Market

Price

Return

4/22/20

1.33%

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

4/22/20

1.41%

FUND

PERFORMANCE

(Unaudited)

25

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc.

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

on

4/22/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

designed

to

measure

the

market

for

investment

grade,

U.S.

dollar-denominated,

fixed-rate,

taxable

corporate

bonds

with

one

to

five

years

left

to

maturity.

To

be

included

in

the

Index,

securities

must

have

$300

million

or

more

par

amount

outstanding

and

be

rated

investment

grade

(Baa3/BBB-/BBB-

or

higher)

using

the

middle

rating

of

Moody’s,

S&P

and

Fitch.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Investors

cannot

invest

directly

in

any

index.

Bloomberg®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlights

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

NAV

Return

4/22/20

3.94%

Market

Price

Return

4/22/20

4.05%

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index

4/22/20

4.08%

FUND

PERFORMANCE

(Unaudited)

26

Comparison

of

change

in

value

of

a

$10,000

investment

in

BNY

Mellon

High

Yield

Beta

ETF

with

a

hypothetical

investment

of

$10,000

in

the

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

(the

“Index”)

†

Sources:

FactSet

and

Morningstar,

Inc.

Past

performance

is

not

predictive

of

future

performance.

The

above

graph

compares

a

hypothetical

$10,000

investment

made

in

BNY

Mellon

High

Yield

Beta

ETF

on

4/22/20

to

a

hypothetical

investment

of

$10,000

made

in

the

Index

on

that

date

using

closing

market

price

return.

All

dividends

and

capital

gain

distributions

are

reinvested.

The

fund’s

performance

shown

in

the

line

graph

above

takes

into

account

all

applicable

fees

and

expenses.

The

Index

is

designed

to

measure

the

U.S.

dollar-denominated,

high

yield

(junk),

fixed-rate,

taxable

corporate

bond

market.

Bonds

included

in

the

Index

must

have

$150

million

or

more

par

amount

outstanding

and

at

least

one

year

until

final

maturity.

Bonds

are

classified

as

high

yield

if

the

middle

rating

of

Moody’s,

Fitch

and

S&P

is

Ba1/BB+/BB+

or

below.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

In

cases

where

explicit

bond

level

ratings

may

not

be

available,

the

index

provider

may

use

other

sources

to

classify

securities

by

credit

quality.

The

Index

may

include

U.S.

dollar-denominated

bonds

issued

by

foreign

issuers.

Investors

cannot

invest

directly

in

any

index.

Bloomberg®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

BNY

Mellon

ETF

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

Further

information

relating

to

fund

performance,

including

expense

reimbursements,

if

applicable,

is

contained

in

the

Financial

Highlights

section

of

the

prospectus

and

elsewhere

in

this

report.

The

performance

data

quoted

represents

past

performance,

which

is

no

guarantee

of

future

results.

Share

price

and

investment

return

fluctuate

and

an

investor’s

shares

may

be

worth

more

or

less

than

original

cost

upon

redemption.

Current

performance

may

be

lower

or

higher

than

the

performance

quoted.

Go

to

im.bnymellon.com

for

the

fund’s

most

recent

month-end

returns.

The

fund’s

performance

shown

in

the

graph

and

table

does

not

reflect

the

deduction

of

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

the

redemption

of

fund

shares.

Average

Annual

Total

Returns

as

of

October

31,

2020

Inception

Date

From

Inception

BNY

Mellon

High

Yield

Beta

ETF

NAV

Return

4/22/20

10.94%

Market

Price

Return

4/22/20

10.98%

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

4/22/20

11.32%

UNDERSTANDING

YOUR

FUND’S

EXPENSES

(Unaudited)

27

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.

For

more

information,

see

your

Fund’s

prospectus

or

talk

to

your

financial

adviser.

The

examples

are

based

on

an

initial

investment

of

$1,000

invested

at

the

beginning

of

the

period

and

held

for

the

period

ended

October

31,

2020.

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

are

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

annualized

expense

ratio,

which

represents

the

ongoing

expenses

as

a

percentage

of

net

assets

for

the

six-month

period

ended

October

31,

2020.

Expenses

are

calculated

by

multiplying

the

Fund’s

annualized

expense

ratio

by

the

average

account

value

for

the

period,

then

multiplying

the

result

by

184/366.

Expense

ratios

for

the

most

recent

six-month

period

may

differ

from

expense

ratios

based

on

the

annualized

data

in

the

Financial

Highlights.

For

the

six

months

ended

October

31,

2020

Beginning

account

value

($)

Ending

account

value($)

Expense

paid

for

the

period

($)

Annualized

expense

ratios

for

the

period

(%)

Actual

Hypothetical

Actual

Hypothetical

Actual

(a)

Hypothetical

(a)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,137.20

1,025.14

0.00

0.00

0.00

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,189.60

1,024.94

0.22

0.20

0.04

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,000.00

1,000.00

1,182.00

1,024.94

0.22

0.20

0.04

BNY

Mellon

International

Equity

ETF

1,000.00

1,000.00

1,086.90

1,024.94

0.21

0.20

0.04

BNY

Mellon

Emerging

Markets

Equity

ETF

1,000.00

1,000.00

1,219.80

1,024.58

0.61

0.56

0.11

BNY

Mellon

Core

Bond

ETF

1,000.00

1,000.00

1,011.50

1,025.14

0.00

0.00

0.00

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

1,000.00

1,000.00

1,035.70

1,024.83

0.31

0.31

0.06

BNY

Mellon

High

Yield

Beta

ETF

1,000.00

1,000.00

1,103.10

1,024.03

1.16

1.12

0.22

28

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.7%

Communication

Services

–

12.8%

Activision

Blizzard,

Inc.

3,222

244,002

Alphabet,

Inc.,

Class

A

a

1,232

1,991,048

Alphabet,

Inc.,

Class

C

a

1,203

1,950,075

AT&T,

Inc.

29,289

791,389

Charter

Communications,

Inc.,

Class

A

a,b

626

377,991

Comcast

Corp.,

Class

A

18,696

789,719

Electronic

Arts,

Inc.

a

1,224

146,672

Facebook,

Inc.,

Class

A

a

9,875

2,598,211

Netflix,

Inc.

a

1,809

860,614

Sirius

XM

Holdings,

Inc.

b

5,979

34,260

T-Mobile

US,

Inc.

a

2,425

265,707

Verizon

Communications,

Inc.

16,983

967,861

Walt

Disney

Co.

(The)

7,417

899,311

11,916,860

Consumer

Discretionary

–

12.7%

Amazon.com,

Inc.

a

1,743

5,292,009

Booking

Holdings,

Inc.

a

175

283,938

Dollar

General

Corp.

1,045

218,102

eBay,

Inc.

2,884

137,365

General

Motors

Co.

5,313

183,458

Home

Depot,

Inc.

(The)

4,416

1,177,791

Las

Vegas

Sands

Corp.

1,470

70,648

Lowe's

Cos.,

Inc.

3,111

491,849

Marriott

International,

Inc.,

Class

A

1,178

109,413

McDonald's

Corp.

3,060

651,780

Nike,

Inc.,

Class

B

5,119

614,690

O'Reilly

Automotive,

Inc.

a

314

137,092

Ross

Stores,

Inc.

1,517

129,203

Starbucks

Corp.

4,836

420,539

Target

Corp.

2,069

314,943

Tesla,

Inc.

a,b

3,058

1,186,626

TJX

Cos.,

Inc.

(The)

4,999

253,949

Yum!

Brands,

Inc.

1,290

120,396

11,793,791

Consumer

Staples

–

7.5%

Altria

Group,

Inc.

7,731

278,934

Brown-Forman

Corp.,

Class

A

315

19,766

Brown-Forman

Corp.,

Class

B

823

57,371

Coca-Cola

Co.

(The)

15,869

762,664

Colgate-Palmolive

Co.

3,571

281,716

Constellation

Brands,

Inc.,

Class

A

718

118,635

Costco

Wholesale

Corp.

1,816

649,438

Estee

Lauder

Cos.,

Inc.

(The),

Class

A

947

208,018

General

Mills,

Inc.

2,587

152,943

Keurig

Dr

Pepper,

Inc.

2,095

56,356

Kimberly-Clark

Corp.

1,431

189,736

Kraft

Heinz

Co.

(The)

2,827

86,478

Mondelez

International,

Inc.,

Class

A

5,897

313,249

Monster

Beverage

Corp.

a

1,562

119,602

PepsiCo,

Inc.

5,703

760,153

Philip

Morris

International,

Inc.

6,428

456,517

Procter

&

Gamble

Co.

(The)

10,210

1,399,791

SYSCO

Corp.

2,165

119,746

Walgreens

Boots

Alliance,

Inc.

3,142

106,954

Walmart,

Inc.

5,821

807,664

6,945,731

Energy

–

1.0%

Chevron

Corp.

8,259

574,001

ConocoPhillips

5,341

152,859

EOG

Resources,

Inc.

3,205

109,739

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Energy

–

1.0%

(continued)

Kinder

Morgan,

Inc.

10,277

122,296

958,895

Financials

–

9.6%

Aflac,

Inc.

3,502

118,893

Allstate

Corp.

(The)

1,339

118,836

American

Express

Co.

2,706

246,895

AON

PLC,

Class

A

973

179,042

Bank

of

America

Corp.

32,149

761,931

Bank

of

New

York

Mellon

Corp.

(The)

3,300

113,388

Berkshire

Hathaway,

Inc.,

Class

B

a

8,125

1,640,438

BlackRock,

Inc.,

Class

A

631

378,102

Blackstone

Group,

Inc.

(The),

Class

A

2,844

143,394

Capital

One

Financial

Corp.

1,939

141,702

Charles

Schwab

Corp.

(The)

6,193

254,594

Chubb

Ltd.

1,891

245,660

Citigroup,

Inc.

9,165

379,614

Goldman

Sachs

Group,

Inc.

(The)

1,433

270,894

Intercontinental

Exchange,

Inc.

2,348

221,651

JPMorgan

Chase

&

Co.

12,524

1,227,853

Marsh

&

McLennan

Cos.,

Inc.

2,119

219,232

MetLife,

Inc.

3,902

147,691

Moody's

Corp.

680

178,772

Morgan

Stanley

5,940

286,011

PNC

Financial

Services

Group,

Inc.

(The)

1,784

199,594

Progressive

Corp.

(The)

2,450

225,155

S&P

Global,

Inc.

1,000

322,730

Truist

Financial

Corp.

6,169

259,838

US

Bancorp

5,824

226,845

Wells

Fargo

&

Co.

18,133

388,953

8,897,708

Health

Care

–

13.6%

Abbott

Laboratories

7,265

763,624

AbbVie,

Inc.

7,545

642,079

Amgen,

Inc.

2,517

546,038

Anthem,

Inc.

1,042

284,258

Baxter

International,

Inc.

2,137

165,767

Becton,

Dickinson

&

Co.

1,207

278,974

Boston

Scientific

Corp.

a

5,992

205,346

Bristol-Myers

Squibb

Co.

9,337

545,748

Cigna

Corp.

1,522

254,128

CVS

Health

Corp.

5,646

316,684

Danaher

Corp.

2,599

596,574

Edwards

Lifesciences

Corp.

a

2,606

186,824

Eli

Lilly

&

Co.

3,455

450,739

HCA

Healthcare,

Inc.

1,233

152,818

Humana,

Inc.

553

220,802

Illumina,

Inc.

a

615

180,011

Intuitive

Surgical,

Inc.

a

485

323,534

IQVIA

Holdings,

Inc.

a

962

148,138

Johnson

&

Johnson

10,823

1,483,942

Medtronic

PLC

5,528

555,951

Merck

&

Co.,

Inc.

10,392

781,582

Pfizer,

Inc.

22,845

810,541

Regeneron

Pharmaceuticals,

Inc.

a

471

256,017

Stryker

Corp.

1,351

272,916

Thermo

Fisher

Scientific,

Inc.

1,626

769,293

UnitedHealth

Group,

Inc.

3,900

1,190,046

Zoetis,

Inc.,

Class

A

1,975

313,136

12,695,510

29

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Industrials

–

6.5%

3M

Co.

2,384

381,345

Boeing

Co.

(The)

2,252

325,166

Caterpillar,

Inc.

2,247

352,891

CSX

Corp.

3,179

250,950

Deere

&

Co.

1,303

294,361

Eaton

Corp.

PLC

1,675

173,848

Emerson

Electric

Co.

2,522

163,401

FedEx

Corp.

997

258,692

General

Dynamics

Corp.

991

130,148

General

Electric

Co.

37,057

274,963

Honeywell

International,

Inc.

2,898

478,025

Illinois

Tool

Works,

Inc.

1,198

234,664

L3harris

Technologies,

Inc.

917

147,738

Lockheed

Martin

Corp.

1,018

356,432

Norfolk

Southern

Corp.

1,068

223,340

Northrop

Grumman

Corp.

651

188,673

Raytheon

Technologies

Corp.

6,297

342,053

Roper

Technologies,

Inc.

441

163,761

Uber

Technologies,

Inc.

a

5,819

194,413

Union

Pacific

Corp.

2,791

494,537

United

Parcel

Service,

Inc.,

Class

B

2,912

457,504

Waste

Management,

Inc.

1,638

176,757

6,063,662

Information

Technology

–

29.9%

Accenture

PLC,

Class

A

2,613

566,786

Adobe,

Inc.

a

1,981

885,705

Advanced

Micro

Devices,

Inc.

a

4,842

364,554

Amphenol

Corp.,

Class

A

1,269

143,194

Analog

Devices,

Inc.

1,555

184,314

Apple,

Inc.

66,123

7,198,150

Applied

Materials,

Inc.

3,820

226,258

Autodesk,

Inc.

a

918

216,226

Automatic

Data

Processing,

Inc.

1,795

283,538

Broadcom,

Inc.

1,654

578,288

Cisco

Systems,

Inc.

17,414

625,163

Cognizant

Technology

Solutions

Corp.,

Class

A

2,292

163,695

Fidelity

National

Information

Services,

Inc.

2,569

320,072

Fiserv,

Inc.

a

2,311

220,631

Global

Payments,

Inc.

1,255

197,964

Intel

Corp.

17,463

773,262

International

Business

Machines

Corp.

3,667

409,457

Intuit,

Inc.

1,085

341,428

LAM

Research

Corp.

605

206,958

Mastercard

,

Inc.,

Class

A

3,632

1,048,340

Micron

Technology,

Inc.

a

4,644

233,779

Microsoft

Corp.

31,186

6,314,229

NVIDIA

Corp.

2,527

1,266,937

Oracle

Corp.

8,582

481,536

PayPal

Holdings,

Inc.

a

4,829

898,822

Qualcomm,

Inc.

4,643

572,760

salesforce.com,

Inc.

a

3,737

867,993

ServiceNow

,

Inc.

a

793

394,573

Texas

Instruments,

Inc.

3,779

546,406

Visa,

Inc.,

Class

A

b

6,938

1,260,704

27,791,722

Materials

–

1.8%

Air

Products

&

Chemicals,

Inc.

921

254,417

Dow,

Inc.

3,144

143,020

DuPont

de

Nemours,

Inc.

3,094

175,987

Ecolab,

Inc.,

Class

W

1,042

191,301

Linde

PLC

2,169

477,917

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.7%

(continued)

Materials

–

1.8%

(continued)

Newmont

Corp.

3,371

211,834

Sherwin-Williams

Co.

(The)

342

235,289

1,689,765

Real

Estate

–

1.8%

American

Tower

Corp.

c

1,827

419,571

Crown

Castle

International

Corp.

c

1,737

271,319

Digital

Realty

Trust,

Inc.

c

1,135

163,781

Equinix

,

Inc.

c

368

269,096

ProLogis

,

Inc.

c

3,054

302,957

Public

Storage

c

646

147,979

SBA

Communications

Corp.,

Class

A

c

470

136,474

1,711,177

Utilities

–

2.5%

American

Electric

Power

Co.,

Inc.

2,067

185,885

Consolidated

Edison,

Inc.

1,437

112,790

Dominion

Energy,

Inc.

3,476

279,262

Duke

Energy

Corp.

3,063

282,133

Exelon

Corp.

4,092

163,230

NextEra

Energy,

Inc.

8,044

588,901

Sempra

Energy

1,226

153,691

Southern

Co.

(The)

4,410

253,355

WEC

Energy

Group,

Inc.

1,345

135,240

Xcel

Energy,

Inc.

2,225

155,817

2,310,304

Total

Common

Stocks

(cost

$87,433,841)

92,775,125

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$116,685)

116,685

116,685

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$35,514)

35,514

35,514

Total

Investments

(cost

$87,586,040)

99.9%

92,927,324

Cash

and

Receivables

(Net)

0.1%

117,737

Net

Assets

100.0%

93,045,061

30

STATEMENT

OF

INVESTMENTS

(continued)

a

Non-income

producing

security.

b

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$1,843,982

and

the

value

of

the

collateral

was

$1,954,212,

consisting

of

cash

collateral

of

$35,514

and

U.S.

Government

&

Agency

securities

valued

at

$1,918,698.

c

Investment

in

a

real

estate

investment

trust.

d

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

e

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

See

Notes

to

Financial

Statements

Description

Value

4/9/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

1,044,454

(927,769)

—

—

116,685

0.1

30

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

243,898

(208,384)

—

—

35,514

0.1

451

2

Total

—

1,288,352

(1,136,153)

—

—

152,199

0.2

481

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

29.9

Health

Care

13.6

Communication

Services

12.8

Consumer

Discretionary

12.7

Financials

9.6

Consumer

Staples

7.5

Industrials

6.5

Utilities

2.5

Real

Estate

1.8

Materials

1.8

Energy

1.0

Registered

Investment

Companies

0.2

99.9

†

Based

on

net

assets.

31

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.9%

Communication

Services

–

4.7%

Altice

USA,

Inc.,

Class

A

a

1,922

51,798

Cable

One,

Inc.

32

55,420

CenturyLink,

Inc.

5,884

50,720

Discovery,

Inc.,

Class

A

a,b

923

18,682

Discovery,

Inc.,

Class

C

a

1,901

34,826

DISH

Network

Corp.,

Class

A

a

1,507

38,413

Fox

Corp.,

Class

A

2,010

53,305

Fox

Corp.,

Class

B

923

24,127

GCI

Liberty,

Inc.,

Class

A

a

572

46,464

IAC/

InterActiveCorp

a

433

52,272

Interpublic

Group

of

Cos.,

Inc.

(The)

2,285

41,336

Liberty

Broadband

Corp.,

Class

A

a

151

21,223

Liberty

Broadband

Corp.,

Class

C

a

902

127,822

Liberty

Media

Corp.-Liberty

Formula

One,

Class

A

a

159

5,295

Liberty

Media

Corp.-Liberty

Formula

One,

Class

C

a

1,221

44,115

Liberty

Media

Corp.-Liberty

SiriusXM

,

Class

A

a

518

17,907

Liberty

Media

Corp.-Liberty

SiriusXM

,

Class

C

a

1,012

35,015

Live

Nation

Entertainment,

Inc.

a

853

41,626

News

Corp.,

Class

A

2,348

30,829

News

Corp.,

Class

B

757

9,856

Omnicom

Group,

Inc.

1,259

59,425

Pinterest,

Inc.,

Class

A

a

2,554

150,558

Roku,

Inc.,

Class

A

a

585

118,404

Snap,

Inc.,

Class

A

a

5,155

203,056

Take-Two

Interactive

Software,

Inc.

a

671

103,951

Twitter,

Inc.

a

4,631

191,538

ViacomCBS

,

Inc.,

Class

A

63

1,881

ViacomCBS

,

Inc.,

Class

B

b

3,178

90,796

Zillow

Group,

Inc.,

Class

A

a

215

19,206

Zillow

Group,

Inc.,

Class

C

a,b

813

72,048

Zynga,

Inc.,

Class

A

a

5,720

51,423

1,863,337

Consumer

Discretionary

–

10.4%

Advance

Auto

Parts,

Inc.

412

60,679

Aptiv

PLC

1,588

153,226

Aramark

1,519

42,137

Autoliv

,

Inc.

474

35,929

AutoZone,

Inc.

a

139

156,928

Best

Buy

Co.,

Inc.

1,403

156,505

BorgWarner,

Inc.

1,407

49,217

Bright

Horizons

Family

Solutions,

Inc.

a

349

55,159

Burlington

Stores,

Inc.

a

392

75,883

CarMax,

Inc.

a

958

82,810

Chipotle

Mexican

Grill,

Inc.,

Class

A

a

158

189,834

D.R.

Horton,

Inc.

2,010

134,288

Darden

Restaurants,

Inc.

762

70,043

Dollar

Tree,

Inc.

a

1,399

126,358

Domino's

Pizza,

Inc.

232

87,770

Etsy,

Inc.

a

709

86,207

Expedia

Group,

Inc.

809

76,167

Ford

Motor

Co.

23,047

178,153

Garmin

Ltd.

854

88,833

Gentex

Corp.

1,429

39,540

Genuine

Parts

Co.

861

77,860

Hasbro,

Inc.

762

63,033

Hilton

Worldwide

Holdings,

Inc.

1,738

152,614

Lear

Corp.

328

39,626

Lennar

Corp.,

Class

A

1,672

117,425

Lennar

Corp.,

Class

B

103

5,860

LKQ

Corp.

a

1,780

56,942

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Consumer

Discretionary

–

10.4%

(continued)

Lululemon

Athletica

,

Inc.

a

679

216,798

MercadoLibre

,

Inc.

a

268

325,365

MGM

Resorts

International

2,922

60,106

Mohawk

Industries,

Inc.

a

358

36,942

Newell

Brands,

Inc.

2,226

39,311

NVR,

Inc.

a

21

83,015

Pool

Corp.

239

83,609

PulteGroup,

Inc.

1,576

64,238

Royal

Caribbean

Cruises

Ltd.

1,085

61,216

Service

Corp.

International

1,041

48,209

Tiffany

&

Co.

518

67,775

Tractor

Supply

Co.

681

90,716

Ulta

Beauty,

Inc.

a

336

69,475

Vail

Resorts,

Inc.

241

55,922

VF

Corp.

1,880

126,336

Wayfair,

Inc.,

Class

A

a,b

404

100,204

Whirlpool

Corp.

372

68,805

Wynn

Resorts

Ltd.

569

41,213

4,098,281

Consumer

Staples

–

4.1%

Archer-Daniels-Midland

Co.

3,486

161,193

Beyond

Meat,

Inc.

a,b

256

36,462

Bunge

Ltd.

828

46,972

Campbell

Soup

Co.

861

40,183

Casey's

General

Stores,

Inc.

222

37,423

Church

&

Dwight

Co.,

Inc.

1,549

136,916

Clorox

Co.

(The)

739

153,158

ConAgra

Brands,

Inc.

2,869

100,673

Herbalife

Nutrition

Ltd.

a

577

26,046

Hershey

Co.

(The)

869

119,453

Hormel

Foods

Corp.

1,649

80,290

JM

Smucker

Co.

(The)

670

75,174

Kellogg

Co.

1,473

92,637

Kroger

Co.

(The)

4,567

147,103

Lamb

Weston

Holdings,

Inc.

873

55,392

McCormick

&

Co.,

Inc.

729

131,592

Molson

Coors

Beverage

Co.,

Class

B

682

24,047

Pilgrim's

Pride

Corp.

a

280

4,687

Post

Holdings,

Inc.

a

279

23,966

Reynolds

Consumer

Products,

Inc.

289

8,161

Tyson

Foods,

Inc.,

Class

A

1,871

107,077

1,608,605

Energy

–

2.5%

Baker

Hughes

Co.,

Class

A

4,944

73,023

Cabot

Oil

&

Gas

Corp.

3,012

53,583

Cheniere

Energy,

Inc.

a

1,520

72,762

Concho

Resources,

Inc.

984

40,846

Continental

Resources,

Inc.

b

530

6,376

Diamondback

Energy,

Inc.

1,207

31,334

Halliburton

Co.

5,233

63,110

Hess

Corp.

1,968

73,249

HollyFrontier

Corp.

931

17,233

Marathon

Petroleum

Corp.

3,306

97,527

Occidental

Petroleum

Corp.

5,771

52,689

Oneok

,

Inc.

2,131

61,799

Pioneer

Natural

Resources

Co.

970

77,173

Schlumberger

NV

7,329

109,495

Williams

Cos.,

Inc.

(The)

7,651

146,823

977,022

Financials

–

10.5%

AGNC

Investment

Corp.

c

3,599

50,278

32

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Financials

–

10.5%

(continued)

Alleghany

Corp.

85

46,489

Ally

Financial,

Inc.

2,383

63,578

American

Financial

Group,

Inc.

207

15,513

American

International

Group,

Inc.

4,479

141,044

Ameriprise

Financial,

Inc.

728

117,084

Annaly

Capital

Management,

Inc.

c

8,550

60,619

Apollo

Global

Management,

Inc.,

Class

A

1,209

44,564

Arch

Capital

Group

Ltd.

a

2,416

72,987

Arthur

J

Gallagher

&

Co.

1,117

115,844

Assurant,

Inc.

359

44,649

Brown

&

Brown,

Inc.

1,547

67,310

Carlyle

Group,

Inc.

(The)

b

602

15,002

Cincinnati

Financial

Corp.

761

53,833

Citizens

Financial

Group,

Inc.

2,680

73,030

Commerce

Bancshares,

Inc.

b

603

37,537

Credit

Acceptance

Corp.

a,b

79

23,551

Discover

Financial

Services

1,804

117,278

Equitable

Holdings,

Inc.

2,374

51,017

Erie

Indemnity

Co.,

Class

A

b

151

35,163

Everest

Re

Group

Ltd.

239

47,102

FactSet

Research

Systems,

Inc.

226

69,269

Fidelity

National

Financial,

Inc.

1,716

53,694

Fifth

Third

Bancorp

4,444

103,190

First

Republic

Bank

1,020

128,663

Franklin

Resources,

Inc.

1,618

30,337

Globe

Life,

Inc.

587

47,600

Hartford

Financial

Services

Group,

Inc.

(The)

2,111

81,316

Huntington

Bancshares,

Inc.

6,062

63,287

KeyCorp

5,818

75,518

KKR

&

Co.,

Inc.,

Class

A

3,291

112,388

Lincoln

National

Corp.

1,158

40,646

Loews

Corp.

1,109

38,460

M&T

Bank

Corp.

601

62,252

Markel

Corp.

a

82

76,490

MarketAxess

Holdings,

Inc.

225

121,241

Morningstar,

Inc.

128

24,369

MSCI,

Inc.,

Class

A

505

176,669

NASDAQ,

Inc.

675

81,668

Northern

Trust

Corp.

1,021

79,914

People's

United

Financial,

Inc.

1,633

17,424

Principal

Financial

Group,

Inc.

1,521

59,654

Prudential

Financial,

Inc.

2,401

153,712

Raymond

James

Financial,

Inc.

730

55,801

Regions

Financial

Corp.

5,712

75,970

Reinsurance

Group

of

America,

Inc.,

Class

A

408

41,216

RenaissanceRe

Holdings

Ltd.

301

48,678

SEI

Investments

Co.

726

35,683

State

Street

Corp.

2,179

128,343

SVB

Financial

Group

a

308

89,536

Synchrony

Financial

3,394

84,918

T

Rowe

Price

Group,

Inc.

1,197

151,612

Travelers

Cos.,

Inc.

(The)

1,333

160,906

Voya

Financial,

Inc.

735

35,228

Willis

Towers

Watson

PLC

765

139,597

WR

Berkley

Corp.

846

50,861

Zions

Bancorp

NA

955

30,818

4,120,400

Health

Care

–

13.7%

ABIOMED,

Inc.

a

268

67,504

ACADIA

Pharmaceuticals,

Inc.

a

665

30,889

Agilent

Technologies,

Inc.

1,822

186,008

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Health

Care

–

13.7%

(continued)

Alexion

Pharmaceuticals,

Inc.

a

1,303

150,027

Align

Technology,

Inc.

a

427

181,936

Alnylam

Pharmaceuticals,

Inc.

a

635

78,086

AmerisourceBergen

Corp.,

Class

A

874

83,965

Avantor

,

Inc.

a

2,175

50,612

BioMarin

Pharmaceutical,

Inc.

a

865

64,382

BIO-RAD

Laboratories,

Inc.,

Class

A

a

128

75,062

Bio-

Techne

Corp.

228

57,550

Bruker

Corp.

617

26,247

Cardinal

Health,

Inc.

1,386

63,465

Catalent

,

Inc.

a

964

84,610

Cerner

Corp.

1,810

126,863

Charles

River

Laboratories

International,

Inc.

a

296

67,399

Chemed

Corp.

95

45,440

Cooper

Cos.,

Inc.

(The)

292

93,163

DaVita,

Inc.

a,b

507

43,729

DENTSPLY

SIRONA,

Inc.

1,285

60,639

DexCom

,

Inc.

a

548

175,130

Elanco

Animal

Health,

Inc.

a

2,336

72,439

Encompass

Health

Corp.

597

36,602

Exact

Sciences

Corp.

a

953

118,010

Exelixis

,

Inc.

a

1,894

38,789

Guardant

Health,

Inc.

a

448

47,784

Haemonetics

Corp.

a

204

20,622

Henry

Schein,

Inc.

a

836

53,153

Hill-Rom

Holdings,

Inc.

199

18,123

Hologic

,

Inc.

a

1,522

104,744

Horizon

Therapeutics

PLC

a

1,201

89,991

IDEXX

Laboratories,

Inc.

a

503

213,684

Incyte

Corp.

a

1,018

88,200

Insulet

Corp.

a

387

86,011

Jazz

Pharmaceuticals

PLC

a

333

47,985

Laboratory

Corp.

of

America

Holdings

a

579

115,667

Masimo

Corp.

a

297

66,475

McKesson

Corp.

962

141,885

Mettler

-Toledo

International,

Inc.

a

142

141,703

Moderna

,

Inc.

a,b

1,605

108,289

Molina

Healthcare,

Inc.

a

354

66,010

Mylan

NV

a

3,027

44,013

Neurocrine

Biosciences,

Inc.

a

554

54,663

Novocure

Ltd.

a

472

57,631

Penumbra,

Inc.

a,b

193

50,379

PerkinElmer,

Inc.

654

84,726

Perrigo

Co.

PLC

797

34,964

PPD,

Inc.

a

565

18,577

PRA

Health

Sciences,

Inc.

a

383

37,320

Quest

Diagnostics,

Inc.

788

96,246

Repligen

Corp.

a

294

48,972

ResMed

,

Inc.

854

163,917

Sarepta

Therapeutics,

Inc.

a

444

60,344

Seagen

,

Inc.

a

691

115,259

STERIS

PLC

506

89,658

Teladoc

Health,

Inc.

a,b

686

134,772

Teleflex,

Inc.

276

87,832

Universal

Health

Services,

Inc.,

Class

B

466

51,050

Varian

Medical

Systems,

Inc.

a

542

93,658

Veeva

Systems,

Inc.,

Class

A

a

801

216,310

Waters

Corp.

a

364

81,106

West

Pharmaceutical

Services,

Inc.

439

119,439

Zimmer

Biomet

Holdings,

Inc.

1,229

162,351

5,392,059

33

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Industrials

–

15.1%

AECOM

a

934

41,881

Allegion

PLC

551

54,273

AMERCO

50

17,358

American

Airlines

Group,

Inc.

b

2,943

33,197

AMETEK,

Inc.

1,353

132,865

AO

Smith

Corp.

789

40,783

Carlisle

Cos.,

Inc.

330

40,877

Carrier

Global

Corp.

4,902

163,678

CH

Robinson

Worldwide,

Inc.

790

69,860

Cintas

Corp.

501

157,590

Clarivate

PLC

a

1,605

44,539

Copart

,

Inc.

a

1,218

134,418

CoStar

Group,

Inc.

a

234

192,725

Cummins,

Inc.

871

191,524

Delta

Air

Lines,

Inc.

3,593

110,089

Donaldson

Co.,

Inc.

759

36,052

Dover

Corp.

853

94,436

Equifax,

Inc.

716

97,806

Expeditors

International

of

Washington,

Inc.

978

86,426

Fastenal

Co.

3,379

146,074

Fortive

Corp.

1,852

114,083

Fortune

Brands

Home

&

Security,

Inc.

836

67,607

Generac

Holdings,

Inc.

a

376

79,016

Graco

,

Inc.

976

60,414

HEICO

Corp.

246

25,842

HEICO

Corp.,

Class

A

435

40,672

Howmet

Aerospace,

Inc.

2,310

39,847

Hubbell,

Inc.,

Class

B

325

47,291

Huntington

Ingalls

Industries,

Inc.

234

34,510

IDEX

Corp.

450

76,675

IHS

Markit

Ltd.

2,265

183,171

Ingersoll

Rand,

Inc.

a

2,030

70,928

Jacobs

Engineering

Group,

Inc.

767

72,865

JB

Hunt

Transport

Services,

Inc.

504

61,357

Johnson

Controls

International

PLC

4,390

185,302

Kansas

City

Southern

566

99,695

Knight-Swift

Transportation

Holdings,

Inc.,

Class

A

710

26,973

Lennox

International,

Inc.

208

56,505

Masco

Corp.

1,551

83,134

Nielsen

Holdings

PLC

2,074

28,020

Nordson

Corp.

307

59,383

Old

Dominion

Freight

Line,

Inc.

562

106,988

Otis

Worldwide

Corp.

2,402

147,195

PACCAR,

Inc.

2,041

174,261

Parker-Hannifin

Corp.

763

158,979

Pentair

PLC

967

48,118

Republic

Services,

Inc.,

Class

A

1,237

109,066

Robert

Half

International,

Inc.

668

33,861

Rockwell

Automation,

Inc.

689

163,376

Rollins,

Inc.

822

47,553

Sensata

Technologies

Holding

PLC

a

946

41,350

Snap-On,

Inc.

326

51,355

Southwest

Airlines

Co.

3,388

133,928

Stanley

Black

&

Decker,

Inc.

917

152,405

Textron,

Inc.

1,364

48,831

Toro

Co.

(The)

643

52,790

Trane

Technologies

PLC

1,411

187,310

TransDigm

Group,

Inc.

313

149,429

TransUnion

1,118

89,060

United

Airlines

Holdings,

Inc.

a

1,824

61,761

United

Rentals,

Inc.

a

430

76,665

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Industrials

–

15.1%

(continued)

Verisk

Analytics,

Inc.,

Class

A

958

170,495

Watsco

,

Inc.

b

198

44,380

Westinghouse

Air

Brake

Technologies

Corp.

1,079

63,985

WW

Grainger,

Inc.

259

90,655

XPO

Logistics,

Inc.

a

547

49,230

Xylem,

Inc.

1,057

92,107

5,944,874

Information

Technology

–

21.8%

Akamai

Technologies,

Inc.

a

956

90,935

Anaplan,

Inc.

a,b

742

41,070

ANSYS,

Inc.

a

511

155,533

Arista

Networks,

Inc.

a

321

67,057

Aspen

Technology,

Inc.

a

406

44,583

Avalara,

Inc.

a

483

71,991

Black

Knight,

Inc.

a

881

77,484

Booz

Allen

Hamilton

Holding

Corp.,

Class

A

810

63,585

Broadridge

Financial

Solutions,

Inc.

675

92,880

CACI

International,

Inc.,

Class

A

a

148

30,862

Cadence

Design

Systems,

Inc.

a

1,648

180,242

CDW

Corp.

848

103,965

Ceridian

HCM

Holding,

Inc.

a

713

61,475

Ciena

Corp.

a

672

26,470

Citrix

Systems,

Inc.

611

69,208

Cognex

Corp.

1,027

67,679

Corning,

Inc.

4,475

143,066

Coupa

Software,

Inc.

a

395

105,741

Crowdstrike

Holdings,

Inc.,

Class

A

a

840

104,026

Dell

Technologies,

Inc.,

Class

C

a

1,291

77,796

DocuSign,

Inc.,

Class

A

a

1,037

209,733

Dynatrace

,

Inc.

a

1,084

38,276

Entegris

,

Inc.

806

60,265

EPAM

Systems,

Inc.

a

332

102,571

F5

Networks,

Inc.

a

330

43,870

Fair

Isaac

Corp.

a

172

67,329

FleetCor

Technologies,

Inc.

a

499

110,234

FLIR

Systems,

Inc.

762

26,434

Fortinet,

Inc.

a

799

88,186

Gartner,

Inc.

a

532

63,893

Genpact

Ltd.

1,098

37,738

GoDaddy

,

Inc.,

Class

A

a

981

69,396

Guidewire

Software,

Inc.

a,b

496

47,671

Hewlett

Packard

Enterprise

Co.

7,663

66,208

HP,

Inc.

8,501

152,678

HubSpot

,

Inc.

a

246

71,357

IPG

Photonics

Corp.

a

214

39,795

Jack

Henry

&

Associates,

Inc.

355

52,629

Juniper

Networks,

Inc.

1,939

38,237

Keysight

Technologies,

Inc.

a

1,102

115,567

KLA

Corp.

921

181,603

Leidos

Holdings,

Inc.

613

50,879

Lumentum

Holdings,

Inc.

a

302

24,972

Marvell

Technology

Group

Ltd.

3,911

146,702

Maxim

Integrated

Products,

Inc.

1,570

109,350

Microchip

Technology,

Inc.

b

1,448

152,156

MKS

Instruments,

Inc.

330

35,769

MongoDB,

Inc.,

Class

A

a

291

66,485

Monolithic

Power

Systems,

Inc.

249

79,580

Motorola

Solutions,

Inc.

1,004

158,692

NetApp,

Inc.

1,297

56,925

NortonLifeLock

,

Inc.

3,585

73,743

Okta

,

Inc.,

Class

A

a

691

144,993

34

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

21.8%

(continued)

ON

Semiconductor

Corp.

a

2,401

60,241

Palo

Alto

Networks,

Inc.

a

574

126,963

Paychex,

Inc.

1,915

157,509

Paycom

Software,

Inc.

a

287

104,494

Paylocity

Holding

Corp.

a

210

38,959

Pegasystems

,

Inc.

237

27,464

Proofpoint

,

Inc.

a

263

25,180

PTC,

Inc.

a

624

52,341

Qorvo

,

Inc.

a

684

87,114

RealPage

,

Inc.

a

451

25,116

RingCentral,

Inc.,

Class

A

a,b

458

118,320

Seagate

Technology

PLC

991

47,390

Skyworks

Solutions,

Inc.

984

139,029

Slack

Technologies,

Inc.,

Class

A

a,b

2,336

59,755

Smartsheet

,

Inc.,

Class

A

a,b

414

20,638

SolarWinds

Corp.

a,b

406

8,295

Splunk

,

Inc.

a

944

186,950

Square,

Inc.,

Class

A

a

2,126

329,275

SS&C

Technologies

Holdings,

Inc.

1,313

77,756

Synopsys,

Inc.

a

896

191,619

TE

Connectivity

Ltd.

1,976

191,435

Teradyne,

Inc.

974

85,566

Trade

Desk,

Inc.

(The),

Class

A

a,b

243

137,647

Trimble,

Inc.

a

1,492

71,810

Twilio

,

Inc.,

Class

A

a

779

217,318

Tyler

Technologies,

Inc.

a

237

91,098

Ubiquiti,

Inc.

b

76

14,106

Universal

Display

Corp.

254

50,371

VeriSign,

Inc.

a

605

115,373

VMware,

Inc.,

Class

A

a,b

477

61,404

Western

Digital

Corp.

1,372

51,766

Western

Union

Co.

(The)

2,408

46,811

WEX,

Inc.

a

261

33,030

Workday,

Inc.,

Class

A

a

979

205,707

Xilinx,

Inc.

1,434

170,201

Zebra

Technologies

Corp.,

Class

A

a

316

89,630

Zendesk

,

Inc.

a

683

75,772

Zoom

Video

Communications,

Inc.,

Class

A

a

1,039

478,885

Zscaler

,

Inc.

a

396

53,757

8,585,659

Materials

–

5.5%

Albemarle

Corp.

636

59,282

Amcor

PLC

9,379

97,823

AptarGroup,

Inc.

385

43,925

Avery

Dennison

Corp.

498

68,918

Ball

Corp.

1,923

171,147

Berry

Global

Group,

Inc.

a

771

35,952

Celanese

Corp.,

Class

A

706

80,138

CF

Industries

Holdings,

Inc.

1,248

34,457

Corteva

,

Inc.

4,412

145,508

Crown

Holdings,

Inc.

a

789

67,696

Eastman

Chemical

Co.

813

65,723

FMC

Corp.

773

79,418

Freeport-McMoRan,

Inc.

8,651

150,008

International

Flavors

&

Fragrances,

Inc.

b

629

64,573

International

Paper

Co.

2,312

101,150

LyondellBasell

Industries

NV,

Class

A

1,324

90,628

Martin

Marietta

Materials,

Inc.

371

98,816

Nucor

Corp.

1,771

84,583

Packaging

Corp.

of

America

567

64,916

PPG

Industries,

Inc.

1,392

180,570

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Materials

–

5.5%

(continued)

Reliance

Steel

&

Aluminum

Co.

383

41,743

Royal

Gold,

Inc.

393

46,692

RPM

International,

Inc.

774

65,535

Scotts

Miracle-GRO

Co.

(The)

247

37,063

Southern

Copper

Corp.

551

28,839

Vulcan

Materials

Co.

780

112,975

Westlake

Chemical

Corp.

215

14,538

Westrock

Co.

1,516

56,926

2,189,542

Real

Estate

–

6.3%

Alexandria

Real

Estate

Equities,

Inc.

c

744

112,731

American

Homes

4

Rent,

Class

A

c

1,492

42,179

Americold

Realty

Trust

b,c

1,171

42,425

Apartment

Investment

&

Management

Co.,

Class

A

c

896

28,582

AvalonBay

Communities,

Inc.

c

719

100,035

Camden

Property

Trust

c

583

53,776

CBRE

Group,

Inc.,

Class

A

a

1,997

100,649

CyrusOne

,

Inc.

c

690

49,025

Douglas

Emmett,

Inc.

c

857

20,225

Duke

Realty

Corp.

c

2,167

82,324

Equity

LifeStyle

Properties,

Inc.

c

1,070

63,333

Equity

Residential

c

1,727

81,134

Essex

Property

Trust,

Inc.

c

390

79,790

Extra

Space

Storage,

Inc.

c

770

89,282

Federal

Realty

Investment

Trust

c

422

29,025

Gaming

and

Leisure

Properties,

Inc.

c

1,255

45,619

Healthpeak

Properties,

Inc.

c

3,168

85,441

Host

Hotels

&

Resorts,

Inc.

c

4,130

43,282

Invitation

Homes,

Inc.

c

3,474

94,701

Iron

Mountain,

Inc.

b,c

1,958

51,026

Jones

Lang

LaSalle,

Inc.

311

35,099

Kilroy

Realty

Corp.

c

381

17,938

Medical

Properties

Trust,

Inc.

c

3,101

55,260

Mid-America

Apartment

Communities,

Inc.

c

682

79,542

National

Retail

Properties,

Inc.

c

1,004

32,138

OMEGA

Healthcare

Investors,

Inc.

c

1,352

38,951

Realty

Income

Corp.

c

2,025

117,167

Regency

Centers

Corp.

c

1,016

36,159

Simon

Property

Group,

Inc.

c

1,838

115,445

Sun

Communities,

Inc.

c

581

79,963

UDR,

Inc.

c

1,301

40,643

Ventas,

Inc.

c

2,224

87,781

VEREIT,

Inc.

c

6,462

40,064

VICI

Properties,

Inc.

c

3,063

70,296

Vornado

Realty

Trust

b,c

734

22,556

Welltower

,

Inc.

c

2,463

132,436

Weyerhaeuser

Co.

c

4,394

119,912

WP

Carey,

Inc.

c

1,029

64,426

2,480,360

Utilities

–

5.3%

AES

Corp.

(The)

3,941

76,849

Alliant

Energy

Corp.

1,615

89,277

Ameren

Corp.

1,455

118,030

American

Water

Works

Co.,

Inc.

1,125

169,324

Atmos

Energy

Corp.

562

51,518

Avangrid

,

Inc.

346

17,072

CenterPoint

Energy,

Inc.

3,227

68,186

CMS

Energy

Corp.

1,686

106,774

DTE

Energy

Co.

1,136

140,205

Edison

International

1,908

106,924

35

a

Non-income

producing

security.

b

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$1,524,431

and

the

value

of

the

collateral

was

$1,612,600,

consisting

of

cash

collateral

of

$330,606

and

U.S.

Government

&

Agency

securities

valued

at

$1,281,994.

c

Investment

in

a

real

estate

investment

trust.

d

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

e

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Utilities

–

5.3%

(continued)

Entergy

Corp.

1,173

118,731

Essential

Utilities,

Inc.

1,108

45,650

Evergy

,

Inc.

1,308

72,202

Eversource

Energy

1,984

173,144

FirstEnergy

Corp.

3,218

95,639

NiSource,

Inc.

1,606

36,890

NRG

Energy,

Inc.

1,443

45,628

OGE

Energy

Corp.

1,186

36,493

PG&E

Corp.

a

7,970

76,193

Pinnacle

West

Capital

Corp.

549

44,782

PPL

Corp.

4,842

133,155

Public

Service

Enterprise

Group,

Inc.

3,144

182,824

UGI

Corp.

1,460

47,216

Vistra

Energy

Corp.

2,676

46,482

2,099,188

Total

Common

Stocks

(cost

$31,665,140)

39,359,327

Investment

Companies

–

0.3%

Registered

Investment

Companies

–

0.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$130,161)

130,161

130,161

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.9%

Registered

Investment

Companies

–

0.9%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$330,606)

330,606

330,606

Total

Investments

(cost

$32,125,907)

101.1%

39,820,094

Liabilities,

Less

Cash

and

Receivables

(1.1)%

(424,525)

Net

Assets

100.0%

39,395,569

Description

Value

4/9/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

908,972

(778,811)

—

—

130,161

0.3

22

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

2,792,702

(2,462,096)

—

—

330,606

0.9

2,457

2

Total

—

3,701,674

(3,240,907)

—

—

460,767

1.2

2,479

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

36

STATEMENT

OF

INVESTMENTS

(continued)

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

21.8

Industrials

15.1

Health

Care

13.7

Financials

10.5

Consumer

Discretionary

10.4

Real

Estate

6.3

Materials

5.5

Utilities

5.3

Communication

Services

4.7

Consumer

Staples

4.1

Energy

2.5

Registered

Investment

Companies

1.2

101.1

†

Based

on

net

assets.

37

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

99.9%

Communication

Services

–

3.0%

Cargurus

,

Inc.,

Class

A

a

1,460

29,098

Iridium

Communications,

Inc.

a

2,003

52,899

John

Wiley

&

Sons,

Inc.,

Class

A

606

18,762

Liberty

Latin

America

Ltd.,

Class

A

a

3,810

37,338

Liberty

Latin

America

Ltd.,

Class

C

a

2,658

25,836

Madison

Square

Garden

Entertainment

Corp.

a

326

21,190

Madison

Square

Garden

Sports

Corp.,

Class

A

a

295

41,784

Match

Group,

Inc.

a

4,583

535,203

New

York

Times

Co.

(The),

Class

A

2,644

104,861

Nexstar

Media

Group,

Inc.,

Class

A

830

68,392

Shenandoah

Telecommunications

Co.

858

37,426

TEGNA,

Inc.

3,999

48,108

Telephone

&

Data

Systems,

Inc.

1,788

30,396

TripAdvisor,

Inc.

1,851

35,373

U.S.

Cellular

Corp.

a

279

8,124

Vonage

Holdings

Corp.

a

4,223

44,679

World

Wrestling

Entertainment,

Inc.,

Class

A

851

30,942

Yelp,

Inc.,

Class

A

a

1,196

23,525

1,193,936

Consumer

Discretionary

–

16.0%

Aaron's

Holdings

Co.,

Inc.

1,237

64,646

Acushnet

Holdings

Corp.

626

21,365

Adtalem

Global

Education,

Inc.

a

905

21,213

AutoNation,

Inc.

a

1,056

59,907

Boyd

Gaming

Corp.

1,467

46,533

Brunswick

Corp.

1,454

92,634

Caesars

Entertainment,

Inc.

a

3,461

155,122

Capri

Holdings

Ltd.

a

2,741

58,164

Carter's,

Inc.

741

60,354

Carvana

Co.,

Class

A

a,b

992

183,867

Chegg

,

Inc.

a,b

2,149

157,823

Chewy,

Inc.,

Class

A

a,b

1,252

77,123

Choice

Hotels

International,

Inc.

565

49,353

Churchill

Downs,

Inc.

644

96,053

Columbia

Sportswear

Co.

b

512

38,190

Cracker

Barrel

Old

Country

Store,

Inc.

435

49,512

Crocs,

Inc.

a

1,237

64,732

Dana,

Inc.

2,645

37,004

Deckers

Outdoor

Corp.

a

513

129,979

Dick's

Sporting

Goods,

Inc.

1,192

67,527

Dorman

Products,

Inc.

a

530

47,313

Dunkin'

Brands

Group,

Inc.

1,420

141,588

Extended

Stay

America,

Inc.

3,261

37,012

Five

Below,

Inc.

a

972

129,606

Floor

&

Decor

Holdings,

Inc.,

Class

A

a

1,818

132,714

Foot

Locker,

Inc.

1,913

70,551

Fox

Factory

Holding

Corp.

a

755

63,480

Frontdoor

,

Inc.

a

1,475

58,439

Gap,

Inc.

(The)

3,718

72,315

Goodyear

Tire

&

Rubber

Co.

(The)

4,264

35,306

Graham

Holdings

Co.,

Class

B

79

30,047

Grand

Canyon

Education,

Inc.

a

821

64,342

Grubhub

,

Inc.

a

1,684

124,549

H&R

Block,

Inc.

3,327

57,424

Hanesbrands,

Inc.

6,329

101,707

Harley-Davidson,

Inc.

2,582

84,896

Helen

of

Troy

Ltd.

a,b

462

87,595

Hilton

Grand

Vacations,

Inc.

a

1,557

32,074

Hyatt

Hotels

Corp.,

Class

A

b

624

34,407

Installed

Building

Products,

Inc.

a

388

35,130

iRobot

Corp.

a,b

491

39,074

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Consumer

Discretionary

–

16.0%

(continued)

KB

Home

1,592

51,342

Kohl's

Corp.

2,570

54,715

L

Brands,

Inc.

4,223

135,178

LCI

Industries

460

50,444

Leggett

&

Platt,

Inc.

2,376

99,150

LGI

Homes,

Inc.

a,b

400

42,752

Lithia

Motors,

Inc.,

Class

A

442

101,470

Macy's,

Inc.

b

5,674

35,236

Marriott

Vacations

Worldwide

Corp.

720

69,552

Mattel,

Inc.

a

6,211

85,525

MDC

Holdings,

Inc.

923

40,169

Meritage

Homes

Corp.

a

648

56,434

Monro

,

Inc.

534

22,460

Murphy

USA,

Inc.

a

487

59,555

National

Vision

Holdings,

Inc.

a,b

1,469

59,245

Norwegian

Cruise

Line

Holdings

Ltd.

a,b

4,746

78,926

Ollie's

Bargain

Outlet

Holdings,

Inc.

a

1,033

89,964

Papa

John's

International,

Inc.

575

44,045

Penn

National

Gaming,

Inc.

a

2,512

135,598

Penske

Automotive

Group,

Inc.

605

30,952

Planet

Fitness,

Inc.,

Class

A

a

1,371

81,259

Polaris,

Inc.

1,016

92,314

PVH

Corp.

1,289

75,136

Qurate

Retail,

Inc.,

Series

A

7,097

48,047

Ralph

Lauren

Corp.,

Class

A

783

52,344

RH

a,b

289

96,881

Shake

Shack,

Inc.,

Class

A

a,b

651

43,956

Six

Flags

Entertainment

Corp.

1,442

31,176

Skechers

USA,

Inc.,

Class

A

a

2,448

77,626

Stamps.com,

Inc.

a

295

65,856

Steven

Madden

Ltd.

1,263

30,325

Tapestry,

Inc.

4,849

107,793

Taylor

Morrison

Home

Corp.,

Class

A

a

2,379

51,386

Tempur

Sealy

International,

Inc.

a

797

70,933

Terminix

Global

Holdings,

Inc.

a

2,289

107,789

Texas

Roadhouse,

Inc.,

Class

A

1,194

83,616

Thor

Industries,

Inc.

b

1,012

85,595

Toll

Brothers,

Inc.

2,028

85,744

TopBuild

Corp.

a

612

93,765

TRI

Pointe

Group,

Inc.

a

2,401

39,448

Under

Armour

,

Inc.,

Class

A

a

3,510

48,578

Under

Armour

,

Inc.,

Class

C

a

3,262

39,894

Urban

Outfitters,

Inc.

a

1,290

28,819

Visteon

Corp.

a

510

45,722

Wendy's

Co.

(The)

3,273

71,515

Williams-Sonoma,

Inc.

b

1,425

129,974

Wingstop

,

Inc.

532

61,888

Wolverine

World

Wide,

Inc.

b

1,486

39,632

WW

International,

Inc.

a

745

15,764

Wyndham

Destinations,

Inc.

1,568

51,164

Wyndham

Hotels

&

Resorts,

Inc.

1,584

73,672

YETI

Holdings,

Inc.

a

1,225

60,613

6,441,606

Consumer

Staples

–

3.9%

BJ's

Wholesale

Club

Holdings,

Inc.

a,b

2,419

92,624

Boston

Beer

Co.,

Inc.

(The),

Class

A

a

174

180,817

Cal-Maine

Foods,

Inc.

a

627

24,045

Central

Garden

&

Pet

Co.,

Class

A

a

174

6,779

Central

Garden

&

Pet

Co.,

Class

A

a

711

25,162

Coca-Cola

Consolidated,

Inc.

85

19,461

Darling

Ingredients,

Inc.

a

3,005

129,215

38

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Consumer

Staples

–

3.9%

(continued)

Edgewell

Personal

Care

Co.

a

938

24,594

Energizer

Holdings,

Inc.

1,121

44,111

Flowers

Foods,

Inc.

3,522

83,049

Freshpet

,

Inc.

a

713

81,639

Grocery

Outlet

Holding

Corp.

a

1,462

64,357

Hain

Celestial

Group,

Inc.

(The)

a

1,442

44,342

Ingredion,

Inc.

1,148

81,382

J&J

Snack

Foods

Corp.

274

37,146

Lancaster

Colony

Corp.

363

60,309

National

Beverage

Corp.

a,b

214

16,754

Nu

Skin

Enterprises,

Inc.,

Class

A

957

47,228

Performance

Food

Group

Co.

a

2,421

81,370

PriceSmart

,

Inc.

409

28,221

Sanderson

Farms,

Inc.

351

44,918

Seaboard

Corp.

4

13,780

Simply

Good

Foods

Co.

(The)

a

1,504

28,275

Spectrum

Brands

Holdings,

Inc.

753

42,823

Sprouts

Farmers

Market,

Inc.

a

2,096

39,929

TreeHouse

Foods,

Inc.

a

924

35,888

US

Foods

Holding

Corp.

a

4,007

83,746

USANA

Health

Sciences,

Inc.

a

223

16,870

Vector

Group

Ltd.

2,181

20,043

WD-40

Co.

251

61,088

1,559,965

Energy

–

1.8%

Antero

Midstream

Corp.

5,171

29,630

Apache

Corp.

6,481

53,792

Cimarex

Energy

Co.

1,871

47,467

CNX

Resources

Corp.

a

3,938

38,199

CVR

Energy,

Inc.

195

2,147

Delek

US

Holdings,

Inc.

1,308

13,158

Devon

Energy

Corp.

6,996

62,474

EQT

Corp.

4,683

70,901

Equitrans

Midstream

Corp.

7,387

53,630

Helmerich

&

Payne,

Inc.

1,650

24,535

Murphy

Oil

Corp.

2,680

20,690

National

Oilwell

Varco,

Inc.

6,694

56,230

Ovintiv

,

Inc.

b

4,229

38,907

Parsley

Energy,

Inc.,

Class

A

5,673

56,787

Southwestern

Energy

Co.

a

10,409

27,792

Targa

Resources

Corp.

4,238

68,020

World

Fuel

Services

Corp.

1,162

24,460

WPX

Energy,

Inc.

a

7,489

34,524

723,343

Financials

–

14.5%

Affiliated

Managers

Group,

Inc.

b

845

63,688

American

Equity

Investment

Life

Holding

Co.

1,677

41,623

American

National

Group,

Inc.

167

11,490

Ameris

Bancorp

1,256

36,801

Ares

Management

Corp.,

Class

A

1,657

70,091

Assetmark

Financial

Holdings,

Inc.

a

252

5,330

Associated

Banc-Corp.

2,824

38,661

Assured

Guaranty

Ltd.

1,228

31,351

Athene

Holding

Ltd.,

Class

A

a

2,155

69,132

Atlantic

Union

Bankshares

Corp.

1,607

40,641

Axis

Capital

Holdings

Ltd.

1,543

65,871

BancorpSouth

Bank

1,845

43,192

Bank

of

Hawaii

Corp.

b

619

37,536

Bank

OZK

2,215

54,888

BankUnited

,

Inc.

1,697

42,849

Blackstone

Mortgage

Trust,

Inc.,

Class

A

c

2,679

58,134

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Financials

–

14.5%

(continued)

BOK

Financial

Corp.

439

25,787

Brighthouse

Financial,

Inc.

a

1,742

57,660

Cannae

Holdings,

Inc.

a

1,535

56,764

Capitol

Federal

Financial,

Inc.

1,751

20,102

Cathay

General

Bancorp

1,574

37,036

CIT

Group,

Inc.

1,874

55,189

CNO

Financial

Group,

Inc.

2,643

46,913

Cohen

&

Steers,

Inc.

402

22,637

Columbia

Banking

System,

Inc.

1,365

38,780

Comerica,

Inc.

2,487

113,183

Community

Bank

System,

Inc.

954

55,323

Cullen/Frost

Bankers,

Inc.

886

62,259

CVB

Financial

Corp.

1,892

33,110

East

West

Bancorp,

Inc.

2,322

84,707

Eaton

Vance

Corp.

2,087

124,782

eHealth,

Inc.

a

433

29,059

Enstar

Group

Ltd.

a

233

40,046

Essent

Group

Ltd.

2,027

80,776

Evercore

,

Inc.,

Class

A

740

58,860

Federated

Hermes,

Inc.,

Class

B

1,757

41,992

First

American

Financial

Corp.

1,964

87,575

First

Citizens

BancShares

,

Inc.,

Class

A

145

67,092

First

Financial

Bancorp

2,110

30,173

First

Financial

Bankshares

,

Inc.

2,594

77,327

First

Hawaiian,

Inc.

2,711

46,792

First

Horizon

National

Corp.

10,137

105,526

First

Merchants

Corp.

1,195

31,202

First

Midwest

Bancorp,

Inc.

1,459

18,310

FirstCash

,

Inc.

572

29,767

FNB

Corp.

5,675

42,903

Fulton

Financial

Corp.

1,887

20,738

Genworth

Financial,

Inc.,

Class

A

a

8,550

33,602

Glacier

Bancorp,

Inc.

1,738

62,220

Hamilton

Lane,

Inc.,

Class

A

546

38,056

Hancock

Whitney

Corp.

1,711

39,131

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc.

b,c

1,346

56,330

Hanover

Insurance

Group,

Inc.

(The)

670

64,092

Hilltop

Holdings,

Inc.

1,273

29,037

Home

Bancshares,

Inc.

2,817

46,762

Houlihan

Lokey

,

Inc.,

Class

A

853

53,483

Independent

Bank

Corp.

458

26,239

Interactive

Brokers

Group,

Inc.,

Class

A

1,406

66,883

International

Bancshares

Corp.

1,068

29,562

Invesco

Ltd.

6,447

84,520

Investors

Bancorp,

Inc.

4,862

41,133

Janus

Henderson

Group

PLC

b

2,815

68,405

Jefferies

Financial

Group,

Inc.

4,103

80,050

Kemper

Corp.

1,104

68,073

Kinsale

Capital

Group,

Inc.

379

71,051

LendingTree

,

Inc.

a,b

141

45,626

LPL

Financial

Holdings,

Inc.

1,323

105,747

Mercury

General

Corp.

496

20,192

MGIC

Investment

Corp.

6,219

62,563

Moelis

&

Co.,

Class

A

992

36,902

National

General

Holdings

Corp.

1,207

41,002

Navient

Corp.

3,285

26,313

New

Residential

Investment

Corp.

c

7,184

53,880

Old

National

Bancorp

3,237

45,253

Old

Republic

International

Corp.

4,531

73,765

OneMain

Holdings,

Inc.,

Class

A

1,379

48,113

PacWest

Bancorp

2,356

45,329

39

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Financials

–

14.5%

(continued)

PennyMac

Financial

Services,

Inc.

772

39,233

Pinnacle

Financial

Partners,

Inc.

1,380

63,190

Popular,

Inc.

1,337

56,421

Primerica,

Inc.

668

73,640

Prosperity

Bancshares,

Inc.

1,701

93,742

Radian

Group,

Inc.

3,580

64,261

Renasant

Corp.

1,197

34,127

RLI

Corp.

713

61,817

Santander

Consumer

USA

Holdings,

Inc.

1,068

21,723

Selective

Insurance

Group,

Inc.

1,094

56,954

ServisFirst

Bancshares,

Inc.

847

31,254

Simmons

First

National

Corp.,

Class

A

1,798

30,548

SLM

Corp.

6,760

62,124

South

State

Corp.

1,307

80,250

Starwood

Property

Trust,

Inc.

c

5,135

71,736

Sterling

Bancorp

3,574

47,820

Stifel

Financial

Corp.

1,255

73,367

Synovus

Financial

Corp.

2,717

70,642

TCF

Financial

Corp.

2,436

66,284

TFS

Financial

Corp.

1,378

21,648

Tradeweb

Markets,

Inc.,

Class

A

1,592

86,732

Trustmark

Corp.

1,397

32,676

UMB

Financial

Corp.

812

49,426

Umpqua

Holdings

Corp.

4,553

57,186

United

Bankshares

,

Inc.

2,446

64,159

United

Community

Banks,

Inc.

1,768

37,022

Unum

Group

3,696

65,271

Valley

National

Bancorp

7,178

54,840

Virtu

Financial,

Inc.,

Class

A

1,388

29,675

Washington

Federal,

Inc.

859

18,288

Webster

Financial

Corp.

1,711

55,111

WesBanco

,

Inc.

1,437

34,905

Westamerica

BanCorp

593

31,055

Western

Alliance

Bancorp

1,791

73,789

White

Mountains

Insurance

Group

Ltd.

54

49,050

Wintrust

Financial

Corp.

1,054

51,888

WSFS

Financial

Corp.

1,026

32,514

5,861,330

Health

Care

–

13.4%

1life

Healthcare,

Inc.

a,b

1,178

33,231

Acadia

Healthcare

Co.,

Inc.

a

1,629

58,074

Acceleron

Pharma,

Inc.

a

915

95,691

Adaptive

Biotechnologies

Corp.

a

1,442

66,447

Agios

Pharmaceuticals,

Inc.

a

1,005

40,270

Alkermes

PLC

a

2,907

47,239

Allakos

,

Inc.

a,b

483

45,948

Allogene

Therapeutics,

Inc.

a

1,178

39,958

Amedisys

,

Inc.

a

593

153,587

Amicus

Therapeutics,

Inc.

a

4,717

84,104

AMN

Healthcare

Services,

Inc.

a

861

56,206

Apellis

Pharmaceuticals,

Inc.

a

1,000

31,900

Arena

Pharmaceuticals,

Inc.

a

1,022

87,606

Arrowhead

Pharmaceuticals,

Inc.

a

1,816

104,057

Arvinas

,

Inc.

a

415

8,678

AtriCure

,

Inc.

a

660

22,810

Avanos

Medical,

Inc.

a

875

30,931

Axsome

Therapeutics,

Inc.

a,b

432

28,646

Biohaven

Pharmaceutical

Holding

Co

Ltd.

a

883

68,397

Bluebird

Bio,

Inc.

a

1,185

61,276

Blueprint

Medicines

Corp.

a

990

101,257

Bridgebio

Pharma,

Inc.

a,b

1,368

52,504

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Health

Care

–

13.4%

(continued)

Cantel

Medical

Corp.

680

32,531

Change

Healthcare,

Inc.

a

3,992

56,487

ChemoCentryx

,

Inc.

a

874

41,952

CONMED

Corp.

523

40,778

CRISPR

Therapeutics

AG

a,b

1,036

95,126

Deciphera

Pharmaceuticals,

Inc.

a,b

693

40,243

Eidos

Therapeutics,

Inc.

a

196

13,900

Emergent

BioSolutions

,

Inc.

a

816

73,416

Ensign

Group,

Inc.

(The)

924

54,368

Envista

Holdings

Corp.

a

2,917

77,067

Fate

Therapeutics,

Inc.

a

1,289

57,232

FibroGen

,

Inc.

a

1,467

56,303

Glaukos

Corp.

a,b

765

42,779

Global

Blood

Therapeutics,

Inc.

a

1,033

54,625

Globus

Medical,

Inc.,

Class

A

a

1,388

72,343

Halozyme

Therapeutics,

Inc.

a

2,236

62,608

HealthEquity

,

Inc.

a

1,365

70,284

HMS

Holdings

Corp.

a

1,567

41,714

ICU

Medical,

Inc.

a

342

60,804

Inovio

Pharmaceuticals,

Inc.

a,b

2,466

24,290

Insmed

,

Inc.

a,b

1,849

60,906

Inspire

Medical

Systems,

Inc.

a

437

52,191

Integer

Holdings

Corp.

a

581

33,959

Integra

LifeSciences

Holdings

Corp.

a

1,180

52,038

Invitae

Corp.

a,b

2,288

89,712

Iovance

Biotherapeutics

,

Inc.

a

2,406

85,846

iRhythm

Technologies,

Inc.

a

495

104,668

Karuna

Therapeutics,

Inc.

a

285

23,139

Kodiak

Sciences,

Inc.

a,b

455

41,319

LHC

Group,

Inc.

a

544

117,803

Ligand

Pharmaceuticals,

Inc.

a,b

295

24,323

LivaNova

PLC

a

836

42,084

Medpace

Holdings,

Inc.

a

493

54,693

Merit

Medical

Systems,

Inc.

a

829

41,491

Mirati

Therapeutics,

Inc.

a

769

166,981

MyoKardia

,

Inc.

a

964

215,483

Natera

,

Inc.

a

1,340

90,128

Nektar

Therapeutics,

Class

A

a

3,164

50,118

Neogen

Corp.

a

969

67,578

NeoGenomics

,

Inc.

a

2,002

78,538

Nevro

Corp.

a

619

92,361

NuVasive

,

Inc.

a

915

40,653

Omnicell

,

Inc.

a

761

65,865

Option

Care

Health,

Inc.

a

834

11,117

Pacira

BioSciences

,

Inc.

a

771

40,323

Patterson

Cos.,

Inc.

b

1,579

39,278

Premier,

Inc.,

Class

A

1,123

36,756

Prestige

Consumer

Healthcare,

Inc.

a

830

27,415

Progyny

,

Inc.

a

528

12,867

PTC

Therapeutics,

Inc.

a

1,190

62,106

Quidel

Corp.

a,b

691

185,388

Reata

Pharmaceuticals,

Inc.,

Class

A

a,b

373

43,533

REVOLUTION

Medicines,

Inc.

a

646

19,503

Sage

Therapeutics,

Inc.

a

961

70,518

Schrodinger,

Inc.

a

548

26,731

Select

Medical

Holdings

Corp.

a

1,968

41,289

STAAR

Surgical

Co.

a

767

55,608

Syneos

Health,

Inc.,

Class

A

a

1,225

65,023

Tandem

Diabetes

Care,

Inc.

a

1,045

113,905

Tenet

Healthcare

Corp.

a

1,916

47,019

Theravance

Biopharma

Inc

a

632

11,951

Tricida

,

Inc.

a

621

3,496

40

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Health

Care

–

13.4%

(continued)

Turning

Point

Therapeutics,

Inc.

a

722

66,561

Ultragenyx

Pharmaceutical,

Inc.

a,b

1,026

103,113

United

Therapeutics

Corp.

a

807

108,324

Viela

Bio,

Inc.

a,b

288

9,190

Wright

Medical

Group

NV

a,b

2,310

70,663

Xencor

,

Inc.

a

1,031

39,570

Zogenix

,

Inc.

a,b

1,007

21,469

5,412,260

Industrials

–

14.6%

AAON,

Inc.

b

744

43,457

ABM

Industries,

Inc.

1,221

42,393

Acuity

Brands,

Inc.

b

726

64,716

ADT,

Inc.

1,932

12,732

Advanced

Drainage

Systems,

Inc.

958

60,766

Aerojet

Rocketdyne

Holdings,

Inc.

a

1,196

38,774

AGCO

Corp.

1,143

88,045

Air

Lease

Corp.,

Class

A

1,935

52,709

Alaska

Air

Group,

Inc.

2,197

83,244

Albany

International

Corp.,

Class

A

563

28,679

Allison

Transmission

Holdings,

Inc.

1,986

71,794

Altra

Industrial

Motion

Corp.

1,186

50,713

Applied

Industrial

Technologies,

Inc.

709

43,284

Arcosa

,

Inc.

778

35,920

Armstrong

World

Industries,

Inc.

840

50,316

ASGN,

Inc.

a

963

64,213

Axon

Enterprise,

Inc.

a

1,135

112,251

Barnes

Group,

Inc.

816

29,947

Beacon

Roofing

Supply,

Inc.

a

1,260

38,682

Brady

Corp.,

Class

A

720

27,158

Brink's

Co.

(The)

828

35,463

Builders

FirstSource

,

Inc.

a

2,134

64,660

BWX

Technologies,

Inc.

1,672

91,977

Casella

Waste

Systems,

Inc.,

Class

A

a

814

43,948

Cimpress

PLC

a

399

29,287

Clean

Harbors,

Inc.

a

937

49,633

Colfax

Corp.

a,b

1,752

47,637

CoreLogic

,

Inc.

1,455

111,933

Crane

Co.

878

44,559

Curtiss-Wright

Corp.

704

59,389

EMCOR

Group,

Inc.

948

64,644

EnerSys

777

55,633

ESCO

Technologies,

Inc.

478

40,004

Evoqua

Water

Technologies

Corp.

a

1,490

34,166

Exponent,

Inc.

890

61,935

Federal

Signal

Corp.

1,104

31,663

Flowserve

Corp.

b

2,154

62,724

Fluor

Corp.

2,417

27,433

Franklin

Electric

Co.,

Inc.

701

41,871

FTI

Consulting,

Inc.

a

605

59,568

Gates

Industrial

Corp.

PLC

a

853

9,468

GATX

Corp.

618

42,197

GrafTech

International

Ltd.

745

5,029

HD

Supply

Holdings,

Inc.

a

2,864

114,159

Healthcare

Services

Group,

Inc.

1,116

25,534

Heartland

Express,

Inc.

768

14,062

Hillenbrand,

Inc.

1,367

39,985

IAA,

Inc.

a

2,454

138,872

Insperity

,

Inc.

669

51,232

ITT,

Inc.

1,613

97,603

JetBlue

Airways

Corp.

a

4,787

57,300

John

Bean

Technologies

Corp.

581

48,787

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Industrials

–

14.6%

(continued)

KAR

Auction

Services,

Inc.

2,366

34,449

Kennametal,

Inc.

1,520

47,120

Korn

Ferry

1,009

30,462

Kratos

Defense

&

Security

Solutions,

Inc.

a

2,062

38,951

Landstar

System,

Inc.

703

87,664

Lincoln

Electric

Holdings,

Inc.

1,034

105,282

Macquarie

Infrastructure

Corp.

1,430

36,894

ManpowerGroup

,

Inc.

957

64,952

MasTec

,

Inc.

a,b

1,002

49,739

Mercury

Systems,

Inc.

a

983

67,709

Meritor,

Inc.

a

1,325

32,251

Middleby

Corp.

(The)

a

996

99,142

Moog,

Inc.,

Class

A

553

34,502

MSA

Safety,

Inc.

655

86,408

MSC

Industrial

Direct

Co.,

Inc.,

Class

A

787

54,822

Mueller

Industries,

Inc.

1,040

30,087

Mueller

Water

Products,

Inc.,

Class

A

2,891

29,951

Navistar

International

Corp.

a

1,091

47,033

nVent

Electric

PLC

2,863

51,677

Oshkosh

Corp.

1,120

75,443

Owens

Corning

1,874

122,691

Parsons

Corp.

a,b

350

11,032

Proto

Labs,

Inc.

a

488

57,623

Quanta

Services,

Inc.

2,477

154,639

RBC

Bearings,

Inc.

a

417

49,644

Regal

Beloit

Corp.

743

73,297

Rexnord

Corp.

2,197

70,480

Ryder

System,

Inc.

984

48,472

Saia,

Inc.

a

477

70,434

Schneider

National,

Inc.,

Class

B

621

13,699

Simpson

Manufacturing

Co.,

Inc.

726

64,411

SiteOne

Landscape

Supply,

Inc.

a

801

95,711

SkyWest,

Inc.

919

26,679

Spirit

AeroSystems

Holdings,

Inc.,

Class

A

1,891

34,397

SPX

Corp.

a

816

34,590

Stericycle,

Inc.

a

1,675

104,353

Sunrun

,

Inc.

a,b

2,706

140,766

Tetra

Tech,

Inc.

991

100,002

Timken

Co.

(The)

1,238

73,909

Trex

Co.,

Inc.

a,b

2,122

147,564

TriNet

Group,

Inc.

a

787

54,240

Trinity

Industries,

Inc.

b

1,732

32,631

Triton

International

Ltd.

1,182

43,592

UFP

Industries,

Inc.

1,120

55,899

UniFirst

Corp.

280

45,867

Univar

Solutions,

Inc.

a

2,941

48,791

Valmont

Industries,

Inc.

374

53,089

Virgin

Galactic

Holdings,

Inc.

a,b

2,192

38,185

Watts

Water

Technologies,

Inc.,

Class

A

504

55,828

Werner

Enterprises,

Inc.

1,048

39,845

Woodward,

Inc.

b

1,030

81,937

5,890,983

Information

Technology

–

17.3%

8x8,

Inc.

a

1,670

28,858

Acacia

Communications,

Inc.

a,b

663

44,912

ACI

Worldwide,

Inc.

a

2,029

59,186

Advanced

Energy

Industries,

Inc.

a

701

47,296

Alarm.com

Holdings,

Inc.

a,b

776

45,264

Alliance

Data

Systems

Corp.

832

42,881

Alteryx

,

Inc.,

Class

A

a,b

938

117,578

Ambarella

,

Inc.

a

594

32,474

41

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

17.3%

(continued)

Amkor

Technology,

Inc.

a

1,943

23,025

Appfolio

,

Inc.,

Class

A

a

274

39,146

Arrow

Electronics,

Inc.

a

1,432

111,538

Avnet,

Inc.

1,763

43,493

Badger

Meter,

Inc.

533

39,090

Belden,

Inc.

758

23,407

Bill.com

Holdings,

Inc.

a

1,009

100,900

Blackbaud

,

Inc.

909

44,850

Blackline,

Inc.

a

888

86,740

Bottomline

Technologies

DE,

Inc.

a

695

27,605

Box,

Inc.,

Class

A

a

2,613

40,502

Brooks

Automation,

Inc.

1,350

63,045

CDK

Global,

Inc.

2,167

93,398

Cirrus

Logic,

Inc.

a

1,029

70,867

Cloudera,

Inc.

a,b

3,900

37,908

Cloudflare

,

Inc.,

Class

A

a

2,535

131,744

CMC

Materials,

Inc.

532

75,645

Coherent,

Inc.

a

420

52,559

CommScope

Holding

Co,

Inc.

a

3,167

28,186

CommVault

Systems,

Inc.

a

778

30,801

Cornerstone

OnDemand

,

Inc.

a

1,053

40,003

Cree,

Inc.

a,b

1,981

125,992

CSG

Systems

International,

Inc.

583

22,084

Datadog

,

Inc.,

Class

A

a

3,095

280,871

Diodes,

Inc.

a

734

42,447

Dolby

Laboratories,

Inc.,

Class

A

1,180

88,594

Dropbox,

Inc.,

Class

A

a

5,052

92,250

DXC

Technology

Co.

4,615

85,008

EchoStar

Corp.,

Class

A

a

962

22,280

Elastic

NV

a

1,022

103,641

Enphase

Energy,

Inc.

a

2,210

216,779

Envestnet

,

Inc.

a

979

75,128

Euronet

Worldwide,

Inc.

a

871

77,380

Everbridge

,

Inc.

a,b

616

64,489

EVERTEC,

Inc.

1,093

36,375

ExlService

Holdings,

Inc.

a

629

47,640

Fabrinet

a

583

34,992

FireEye,

Inc.

a,b

4,075

56,398

First

Solar,

Inc.

a

1,486

129,349

Five9,

Inc.

a

1,136

172,354

Flex

Ltd.

a

8,829

124,930

FormFactor

,

Inc.

a

1,279

36,260

II-VI,

Inc.

a,b

1,775

80,709

Inphi

Corp.

a

911

127,321

Insight

Enterprises,

Inc.

a

647

34,517

InterDigital

,

Inc.

564

31,573

Itron

,

Inc.

a

690

46,886

J2

Global,

Inc.

a,b

779

52,879

Jabil,

Inc.

2,516

83,380

KBR,

Inc.

2,605

58,065

Lattice

Semiconductor

Corp.

a

2,465

86,029

Littelfuse

,

Inc.

445

88,083

LivePerson

,

Inc.

a,b

1,128

60,303

LiveRamp

Holdings,

Inc.

a

1,201

79,374

MACOM

Technology

Solutions

Holdings,

Inc.

a

734

26,791

Manhattan

Associates,

Inc.

a

1,164

99,522

ManTech

International

Corp.,

Class

A

470

30,494

MAXIMUS,

Inc.

1,128

76,230

Medallia

,

Inc.

a,b

1,318

37,497

Mimecast

Ltd.

a

1,026

39,203

National

Instruments

Corp.

2,302

72,007

NCR

Corp.

a

2,341

47,569

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Information

Technology

–

17.3%

(continued)

NetScout

Systems,

Inc.

a

1,072

21,997

New

Relic,

Inc.

a

931

56,474

Novanta

,

Inc.

a

643

69,907

Nuance

Communications,

Inc.

a

5,156

164,528

Nutanix

,

Inc.,

Class

A

a

3,181

77,426

Onto

Innovation,

Inc.

a

795

25,496

PagerDuty

,

Inc.

a

933

25,284

Perspecta

,

Inc.

2,503

44,879

Ping

Identity

Holding

Corp.

a,b

640

17,722

Plexus

Corp.

a

535

37,204

Pluralsight

,

Inc.,

Class

A

a

1,811

28,433

Power

Integrations,

Inc.

1,094

65,870

Progress

Software

Corp.

755

27,459

Pure

Storage,

Inc.,

Class

A

a

4,246

68,361

Q2

Holdings,

Inc.

a,b

895

81,660

Qualys

,

Inc.

a

592

52,007

Rapid7,

Inc.

a

857

53,074

Rogers

Corp.

a

342

41,457

Sailpoint

Technologies

Holdings,

Inc.

a

1,569

65,129

Sanmina

Corp.

a

1,167

28,521

Science

Applications

International

Corp.

998

76,217

Semtech

Corp.

a

1,195

65,594

Silicon

Laboratories,

Inc.

a

799

81,866

SolarEdge

Technologies,

Inc.

a

908

233,983

SPS

Commerce,

Inc.

a

640

54,778

SVMK,

Inc.

a

1,943

40,667

Synaptics

,

Inc.

a,b

629

48,225

SYNNEX

Corp.

749

98,598

Tenable

Holdings,

Inc.

a

1,154

39,363

Teradata

Corp.

a

1,992

36,593

TTEC

Holdings,

Inc.

324

17,749

Varonis

Systems,

Inc.

a

575

66,453

Verint

Systems,

Inc.

a

1,179

57,205

ViaSat

,

Inc.

a

1,143

38,748

Viavi

Solutions,

Inc.

a

3,886

47,992

Vishay

Intertechnology

,

Inc.

2,340

37,955

Xerox

Holdings

Corp.

3,324

57,771

6,969,219

Materials

–

4.8%

Alcoa

Corp.

a

3,407

44,018

Ashland

Global

Holdings,

Inc.

1,107

77,235

Avient

Corp.

1,674

52,011

Axalta

Coating

Systems

Ltd.

a

3,553

89,216

Balchem

Corp.

572

57,171

Cabot

Corp.

1,036

39,378

Chemours

Co.

(The)

3,006

60,541

Cleveland-Cliffs,

Inc.

b

7,297

60,419

Commercial

Metals

Co.

2,180

45,017

Compass

Minerals

International,

Inc.

621

37,496

Eagle

Materials,

Inc.

762

64,961

Element

Solutions,

Inc.

a

4,015

47,056

Graphic

Packaging

Holding

Co.

5,125

68,111

Greif,

Inc.,

Class

A

446

18,103

HB

Fuller

Co.

942

42,626

Huntsman

Corp.

3,603

87,517

Ingevity

Corp.

a

756

41,489

Innospec

,

Inc.

305

20,173

Louisiana-Pacific

Corp.

2,063

58,961

Minerals

Technologies,

Inc.

626

34,236

Mosaic

Co.

(The)

6,345

117,383

NewMarket

Corp.

116

41,492

42

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Materials

–

4.8%

(continued)

Olin

Corp.

2,380

39,389

PQ

Group

Holdings,

Inc.

a

700

8,092

Quaker

Chemical

Corp.

b

237

45,217

Sealed

Air

Corp.

2,833

112,158

Sensient

Technologies

Corp.

776

50,774

Silgan

Holdings,

Inc.

1,421

48,953

Sonoco

Products

Co.

1,645

80,424

Steel

Dynamics,

Inc.

3,432

108,039

Stepan

Co.

367

42,734

Summit

Materials,

Inc.,

Class

A

a

2,007

35,504

Valvoline,

Inc.

3,396

66,799

Worthington

Industries,

Inc.

671

33,020

WR

Grace

&

Co.

1,020

44,360

1,920,073

Real

Estate

–

7.6%

Agree

Realty

Corp.

c

978

60,705

Alexander's,

Inc.

c

67

16,294

American

Assets

Trust,

Inc.

c

1,030

21,558

American

Campus

Communities,

Inc.

c

2,368

88,705

Apple

Hospitality

REIT,

Inc.

c

3,843

38,046

Brandywine

Realty

Trust

c

3,340

29,258

Brixmor

Property

Group,

Inc.

c

4,991

54,701

CareTrust

REIT,

Inc.

c

1,826

31,225

Columbia

Property

Trust,

Inc.

c

1,566

16,568

CoreCivic

,

Inc.

c

1,949

12,493

CoreSite

Realty

Corp.

c

750

89,520

Corporate

Office

Properties

Trust

c

1,986

44,546

Cousins

Properties,

Inc.

c

2,378

60,591

CubeSmart

c

3,525

119,603

Cushman

&

Wakefield

PLC

a

1,976

23,159

Easterly

Government

Properties,

Inc.

c

1,458

30,472

EastGroup

Properties,

Inc.

c

714

95,019

Empire

State

Realty

Trust,

Inc.,

Class

A

c

2,472

13,299

Equity

Commonwealth

c

2,132

56,327

First

Industrial

Realty

Trust,

Inc.

c

2,331

92,797

Four

Corners

Property

Trust,

Inc.

c

1,286

32,587

GEO

Group,

Inc.

(The)

b,c

2,025

17,942

Healthcare

Realty

Trust,

Inc.

c

2,518

70,000

Healthcare

Trust

of

America,

Inc.,

Class

A

c

3,720

90,396

Highwoods

Properties,

Inc.

c

1,794

53,407

Howard

Hughes

Corp.

(The)

a

809

50,312

Hudson

Pacific

Properties,

Inc.

c

2,540

48,920

JBG

SMITH

Properties

c

1,923

44,902

Kennedy-Wilson

Holdings,

Inc.

2,496

32,897

Kimco

Realty

Corp.

c

7,194

73,810

Lamar

Advertising

Co.,

Class

A

c

1,444

89,470

Lexington

Realty

Trust,

Class

B

c

5,075

50,395

Life

Storage,

Inc.

c

859

98,055

National

Health

Investors,

Inc.

c

851

47,699

National

Storage

Affiliates

Trust

b,c

1,226

41,549

Outfront

Media,

Inc.

c

2,643

34,650

Paramount

Group,

Inc.

c

2,957

17,092

Park

Hotels

&

Resorts,

Inc.

b,c

4,407

43,762

Pebblebrook

Hotel

Trust

c

2,394

28,680

Physicians

Realty

Trust

b,c

3,704

62,449

PotlatchDeltic

Corp.

c

1,227

50,982

PS

Business

Parks,

Inc.

c

392

44,700

QTS

Realty

Trust,

Inc.,

Class

A

c

1,100

67,661

Rayonier,

Inc.

c

2,537

64,389

Redfin

Corp.

a

1,692

70,675

Rexford

Industrial

Realty,

Inc.

c

2,239

104,024

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

99.9%

(continued)

Real

Estate

–

7.6%

(continued)

RLJ

Lodging

Trust

c

3,034

24,818

Ryman

Hospitality

Properties,

Inc.

c

1,007

40,129

Sabra

Health

Care

REIT,

Inc.

c

3,767

49,574

Safehold

,

Inc.

b,c

256

17,618

SL

Green

Realty

Corp.

b,c

1,174

50,259

Spirit

Realty

Capital,

Inc.

c

1,882

56,554

STAG

Industrial,

Inc.

c

2,725

84,802

STORE

Capital

Corp.

c

4,052

104,136

Sunstone

Hotel

Investors,

Inc.

c

3,794

28,152

Taubman

Centers,

Inc.

c

1,083

36,194

Terreno

Realty

Corp.

c

1,239

69,731

Washington

Real

Estate

Investment

Trust

c

1,445

25,259

Weingarten

Realty

Investors

c

2,207

35,003

3,048,520

Utilities

–

3.0%

ALLETE,

Inc.

815

42,038

American

States

Water

Co.

883

65,951

Avista

Corp.

944

31,360

Black

Hills

Corp.

930

52,694

California

Water

Service

Group

1,190

53,038

Clearway

Energy,

Inc.,

Class

A

659

17,272

Clearway

Energy,

Inc.,

Class

C

1,453

40,917

Hawaiian

Electric

Industries,

Inc.

1,543

50,981

IDACORP,

Inc.

1,111

97,468

MDU

Resources

Group,

Inc.

3,648

86,676

MGE

Energy,

Inc.

913

59,363

National

Fuel

Gas

Co.

b

1,695

67,732

New

Jersey

Resources

Corp.

2,122

61,920

Northwest

Natural

Holding

Co.

357

15,865

NorthWestern

Corp.

1,172

61,096

ONE

Gas,

Inc.

731

50,468

Ormat

Technologies,

Inc.

b

647

45,853

Otter

Tail

Corp.

360

13,806

PNM

Resources,

Inc.

1,615

80,750

Portland

General

Electric

Co.

1,229

48,300

SJW

Group

641

38,902

South

Jersey

Industries,

Inc.

b

2,139

41,219

Southwest

Gas

Holdings,

Inc.

898

59,017

Spire,

Inc.

680

38,107

1,220,793

Total

Common

Stocks

(cost

$31,652,810)

40,242,028

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$53,434)

53,434

53,434

Investment

of

Cash

Collateral

for

Securities

Loaned

–

1.7%

Registered

Investment

Companies

–

1.7%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$696,717)

696,717

696,717

Total

Investments

(cost

$32,402,961)

101.7%

40,992,179

Liabilities,

Less

Cash

and

Receivables

(1.7)%

(689,986)

Net

Assets

100.0%

40,302,193

REIT—Real

Estate

Investment

Trust

43

a

Non-income

producing

security.

b

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$4,517,618

and

the

value

of

the

collateral

was

$4,699,977,

consisting

of

cash

collateral

of

$696,717

and

U.S.

Government

&

Agency

securities

valued

at

$4,003,260.

c

Investment

in

a

real

estate

investment

trust.

d

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

e

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

See

Notes

to

Financial

Statements

Description

Value

4/9/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

1,260,941

(1,207,507)

—

—

53,434

0.1

26

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

5,550,315

(4,853,598)

—

—

696,717

1.7

11,001

2

Total

—

6,811,256

(6,061,105)

—

—

750,151

1.8

11,027

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Information

Technology

17.3

Consumer

Discretionary

16.0

Industrials

14.6

Financials

14.5

Health

Care

13.4

Real

Estate

7.6

Materials

4.8

Consumer

Staples

3.9

Utilities

3.0

Communication

Services

3.0

Registered

Investment

Companies

1.8

Energy

1.8

101.7

†

Based

on

net

assets.

44

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

International

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

98.8%

Australia

–

6.8%

AGL

Energy

Ltd.

1,460

12,796

APA

Group

2,760

20,332

Aristocrat

Leisure

Ltd.

1,489

29,937

ASX

Ltd.

452

25,276

Aurizon

Holdings

Ltd.

5,267

13,944

Australia

&

New

Zealand

Banking

Group

Ltd.

6,683

88,278

BHP

Group

Ltd.

6,959

165,081

BHP

Group

PLC

4,900

94,415

Brambles

Ltd.

3,705

24,952

Cochlear

Ltd.

150

22,350

Coles

Group

Ltd.

2,789

34,765

Commonwealth

Bank

of

Australia

4,186

202,892

CSL

Ltd.

1,058

213,651

Dexus

a

2,405

14,542

Fortescue

Metals

Group

Ltd.

3,975

48,487

Glencore

PLC

b

25,314

51,028

Goodman

Group

a

3,718

48,042

Insurance

Australia

Group

Ltd.

5,409

18,119

Macquarie

Group

Ltd.

808

71,920

Mirvac

Group

a

8,784

13,016

National

Australia

Bank

Ltd.

7,376

96,344

Newcrest

Mining

Ltd.

1,990

40,862

Origin

Energy

Ltd.

9,603

26,975

QBE

Insurance

Group

Ltd.

3,353

19,426

Ramsay

Health

Care

Ltd.

424

18,565

REA

Group

Ltd.

108

8,970

Rio

Tinto

Ltd.

859

55,757

Rio

Tinto

PLC

2,405

135,488

Santos

Ltd.

3,911

12,991

Scentre

Group

a

12,431

18,332

Sonic

Healthcare

Ltd.

1,067

26,091

South32

Ltd.

11,406

16,260

Suncorp

Group

Ltd.

2,793

16,103

Sydney

Airport

3,853

14,746

Telstra

Corp.

Ltd.

9,713

18,280

Transurban

Group

6,380

60,306

Wesfarmers

Ltd.

2,619

84,529

Westpac

Banking

Corp.

8,468

106,505

Woodside

Petroleum

Ltd.

2,325

28,605

Woolworths

Group

Ltd.

3,032

81,251

2,100,209

Austria

–

0.2%

Erste

Group

Bank

AG

b

668

13,679

OMV

AG

1,394

31,989

Raiffeisen

Bank

International

AG

b

300

4,312

Telekom

Austria

AG,

Class

A

176

1,185

Verbund

AG,

Class

A

151

8,686

59,851

Belgium

–

0.9%

Ageas

418

16,823

Anheuser-Busch

InBev

SA/NV

1,953

101,372

Elia

Group

SA

72

6,969

Etablissements

Franz

Colruyt

NV

119

7,044

Groupe

Bruxelles

Lambert

SA

231

18,911

KBC

Group

NV

823

40,580

Proximus

SADP

505

9,821

Sofina

SA

41

10,650

Solvay

SA

162

13,153

UCB

SA

294

29,007

Umicore

SA

468

18,012

272,342

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Brazil

–

0.2%

Wheaton

Precious

Metals

Corp.

1,038

47,597

Yara

International

ASA

391

13,601

61,198

Canada

–

8.5%

Agnico

Eagle

Mines

Ltd.

558

44,139

Alimentation

Couche-Tard,

Inc.,

Class

A

147

4,548

Alimentation

Couche-Tard,

Inc.,

Class

B

2,015

62,006

Bank

of

Montreal

1,479

87,996

Bank

of

Nova

Scotia

(The)

2,807

116,524

Barrick

Gold

Corp.

4,102

109,584

BCE,

Inc.

662

26,582

Brookfield

Asset

Management,

Inc.,

Class

A

3,228

95,846

Canadian

Imperial

Bank

of

Commerce

1,031

76,845

Canadian

National

Railway

Co.

1,655

164,277

Canadian

Natural

Resources

Ltd.

2,949

46,888

Canadian

Pacific

Railway

Ltd.

318

94,955

CGI,

Inc.,

Class

A

b

558

34,597

Constellation

Software,

Inc.

44

46,153

Enbridge,

Inc.

4,867

133,999

Fortis,

Inc.,

Class

Common

Subscription

Receipt

1,072

42,314

Franco-Nevada

Corp.

437

59,515

George

Weston

Ltd.

158

11,071

Great-West

Lifeco

,

Inc.,

Class

Common

Subscription

Receipt

598

12,177

Hydro

One

Ltd.

c

800

17,466

Imperial

Oil

Ltd.

1,715

22,792

Intact

Financial

Corp.,

Class

Common

Subscription

Receipt

317

32,719

Kirkland

Lake

Gold

Ltd.

700

31,867

Loblaw

Cos.

Ltd.

388

19,299

Magna

International,

Inc.

632

32,246

Manulife

Financial

Corp.,

Class

Common

Subscription

Receipt

4,516

61,168

Metro,

Inc.,

Class

A

600

27,967

National

Bank

of

Canada

842

40,378

Nutrien

Ltd.

1,329

53,983

Open

Text

Corp.

600

22,027

Pembina

Pipeline

Corp.

2,064

43,173

Power

Corp.

of

Canada

1,500

28,541

Restaurant

Brands

International,

Inc.

695

36,086

Rogers

Communications,

Inc.,

Class

B

827

33,567

Royal

Bank

of

Canada

3,396

237,276

Saputo,

Inc.

525

12,769

Shopify,

Inc.,

Class

A

b

246

226,606

Sun

Life

Financial,

Inc.

1,364

54,228

TC

Energy

Corp.

2,157

84,834

TELUS

Corp.

932

15,923

Thomson

Reuters

Corp.

478

37,133

Topicus.com,

Inc.

b

81

0

Toronto-Dominion

Bank

(The)

4,195

184,934

2,626,998

Chile

–

0.0%

Antofagasta

PLC

d

766

10,197

China

–

0.4%

Prosus

NV

b

974

97,323

Wilmar

International

Ltd.

7,300

21,598

118,921

Denmark

–

2.3%

AP

Moller

-

Maersk

A/S,

Class

A

8

11,803

AP

Moller

-

Maersk

A/S,

Class

B

16

25,559

45

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Denmark

–

2.3%

(continued)

Carlsberg

A/S,

Class

B

246

31,138

Chr

Hansen

Holding

A/S

243

24,477

Coloplast

A/S,

Class

B

271

39,551

Danske

Bank

A/S

b

1,598

21,242

DSV

Panalpina

A/S

474

76,757

Genmab

A/S

b

151

50,298

Novo

Nordisk

A/S,

Class

B

3,779

242,741

Novozymes

A/S,

Class

B

499

29,988

Orsted

A/

S

c

388

61,586

Vestas

Wind

Systems

A/S

460

78,521

693,661

Finland

–

1.2%

Elisa

OYJ

350

17,221

Fortum

OYJ

967

18,192

Kone

OYJ,

Class

B

934

74,352

Neste

OYJ

999

51,993

Nokia

OYJ

b

13,030

44,016

Nordea

Bank

Abp

b

7,474

55,989

Sampo

OYJ,

Class

A

1,143

43,138

Stora

ENSO

OYJ,

Class

A

166

2,543

Stora

ENSO

OYJ,

Class

R

1,360

19,842

UPM-

Kymmene

OYJ

1,234

34,872

362,158

France

–

9.2%

Adevinta

ASA,

Class

B

b

502

7,746

Air

Liquide

SA

1,110

162,269

Airbus

SE

b

1,437

104,769

Amundi

SA

b,c

134

8,788

AXA

SA

4,481

72,032

bioMerieux

113

16,822

BNP

Paribas

SA

b

2,641

91,845

Bouygues

SA

585

19,182

Capgemini

SE

365

42,151

Carrefour

SA

1,368

21,289

CIE

de

Saint-

Gobain

b

1,267

49,441

CIE

Generale

des

Etablissements

Michelin

SCA

417

44,999

Credit

Agricole

SA

b

2,954

23,337

Danone

SA

1,485

81,993

Dassault

Systemes

SE

317

54,115

Electricite

de

France

SA

1,016

11,797

Engie

SA

b

4,242

51,315

EssilorLuxottica

SA

b

671

83,007

Gecina

SA

a

122

15,149

Hermes

International

80

74,457

Kering

SA

172

103,884

Legrand

SA

613

45,328

L'Oreal

SA

578

186,971

LVMH

Moet

Hennessy

Louis

Vuitton

SE

633

296,636

Orange

SA

4,589

51,477

Pernod

Ricard

SA

502

80,930

Peugeot

SA

b

1,331

23,923

Safran

SA

b

775

81,718

Sanofi

2,682

241,714

Sartorius

Stedim

Biotech

56

21,239

Schneider

Electric

SE

1,308

158,761

Societe

Generale

SA

b

2,401

32,555

Sodexo

SA

189

12,131

Teleperformance

136

40,825

Thales

SA

277

18,030

Total

SE

6,293

189,271

Veolia

Environnement

SA

1,311

24,419

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

France

–

9.2%

(continued)

Vinci

SA

1,191

94,089

Vivendi

SA

1,864

53,826

Worldline

SA

b,c

489

36,250

2,830,480

Germany

–

7.3%

Adidas

AG

b

425

126,241

Allianz

SE

1,045

183,880

BASF

SE

2,144

117,554

Bayerische

Motoren

Werke

AG

745

50,923

Beiersdorf

AG

229

23,981

Continental

AG

252

26,795

Daimler

AG

2,051

106,076

Delivery

Hero

SE

b,c

321

36,936

Deutsche

Bank

AG

b

5,061

46,579

Deutsche

Boerse

AG

439

64,611

Deutsche

Post

AG

2,638

116,892

Deutsche

Telekom

AG

7,466

113,667

Deutsche

Wohnen

SE

834

42,094

E.ON

SE

5,069

52,858

Evonik

Industries

AG

372

8,957

Fresenius

Medical

Care

AG

&

Co.

KGaA

491

37,508

Fresenius

SE

&

Co.

KGaA

1,201

44,544

Hannover

Rueck

SE

141

20,481

Henkel

AG

&

Co.

KGaA

237

21,437

Infineon

Technologies

AG

3,164

88,085

Just

Eat

Takeaway.com

NV

b,c

274

30,487

Merck

KGaA

454

67,242

Muenchener

Rueckversicherungs-Gesellschaft

AG

in

Muenchen

333

77,889

RWE

AG

1,532

56,731

SAP

SE

2,534

270,054

Siemens

AG

1,907

223,692

Siemens

Healthineers

AG

c

488

20,950

Symrise

AG,

Class

A

296

36,497

Volkswagen

AG

72

11,205

Vonovia

SE

1,290

82,376

Zalando

SE

b,c

295

27,552

2,234,774

Hong

Kong

–

2.6%

AIA

Group

Ltd.

28,200

265,641

CK

Infrastructure

Holdings

Ltd.

2,000

9,413

CLP

Holdings

Ltd.

4,000

36,777

Dairy

Farm

International

Holdings

Ltd.

1,100

4,147

Henderson

Land

Development

Co.

Ltd.

5,000

17,699

HKT

Trust

&

HKT

Ltd.

9,000

11,629

Hong

Kong

&

China

Gas

Co.

Ltd.

25,150

36,128

Hong

Kong

Exchanges

&

Clearing

Ltd.

2,800

133,666

Jardine

Matheson

Holdings

Ltd.

700

31,073

Jardine

Strategic

Holdings

Ltd.

500

10,845

Link

REIT

a

5,413

41,218

MTR

Corp.

Ltd.

4,000

19,781

New

World

Development

Co.

Ltd.

3,250

15,465

Power

Assets

Holdings

Ltd.

3,500

17,986

Sun

Hung

KAI

Properties

Ltd.

4,000

51,142

Swire

Properties

Ltd.

3,400

9,098

Techtronic

Industries

Co.

Ltd.

4,000

53,334

WH

Group

Ltd.

c

21,500

16,884

Wharf

Real

Estate

Investment

Co.

Ltd.

5,000

19,182

801,108

Ireland

–

0.3%

CRH

PLC

1,828

64,455

46

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Ireland

–

0.3%

(continued)

Kerry

Group

PLC,

Class

A

350

41,871

106,326

Israel

–

0.4%

Azrieli

Group

Ltd.

80

3,779

Bank

Hapoalim

BM

2,481

14,559

Bank

Leumi

Le-Israel

BM

3,434

16,280

Elbit

Systems

Ltd.

53

6,007

ICL

Group

Ltd.

1,123

4,094

Mizrahi

Tefahot

Bank

Ltd.

292

5,710

Nice

Ltd.

b

145

33,217

Teva

Pharmaceutical

Industries

Ltd.

b

3,128

27,115

110,761

Italy

–

1.8%

Assicurazioni

Generali

SpA

2,813

37,715

Atlantia

SpA

b

1,468

22,495

Davide

Campari-Milano

NV

928

9,690

DiaSorin

SpA

39

8,563

ENEL

SpA

18,290

145,599

ENI

SpA

9,018

63,143

Ferrari

NV

296

52,805

Intesa

Sanpaolo

SpA

b

40,411

66,825

Moncler

SpA

b

418

16,730

Nexi

SpA

b,c

685

10,525

Poste

Italiane

SpA

c

1,015

8,276

Recordati

Industria

Chimica

e

Farmaceutica

SpA

223

11,557

Snam

SpA

5,059

24,692

Telecom

Italia

SpA

26,185

8,888

Telecom

Italia

SpA

-RSP

13,375

4,866

Terna

Rete

Elettrica

Nazionale

SpA

3,280

22,175

UniCredit

SpA

b

4,897

36,513

UnipolSai

Assicurazioni

SpA

1,271

2,952

554,009

Japan

–

25.2%

ACOM

Co.

Ltd.

1,000

4,467

Advantest

Corp.

400

23,073

AEON

Co.

Ltd.

2,000

50,957

AGC,

Inc.

600

18,624

Aisin

Seiki

Co.

Ltd.

400

12,034

Ajinomoto

Co.,

Inc.

1,400

28,090

ANA

Holdings,

Inc.

b

300

6,514

Asahi

Group

Holdings

Ltd.

1,100

33,913

Asahi

Intecc

Co.

Ltd.

600

18,567

Asahi

Kasei

Corp.

3,100

26,700

Astellas

Pharma,

Inc.

4,600

63,143

Bandai

Namco

Holdings,

Inc.

500

37,192

Bridgestone

Corp.

1,400

45,399

Canon,

Inc.

2,500

43,058

Chugai

Pharmaceutical

Co.

Ltd.

1,500

57,696

DAI

Nippon

Printing

Co.

Ltd.

700

12,984

Daifuku

Co.

Ltd.

300

30,792

Dai-ichi

Life

Holdings,

Inc.

2,800

41,421

Daiichi

Sankyo

Co.

Ltd.

4,200

110,404

Daikin

Industries

Ltd.

700

130,438

Daito

Trust

Construction

Co.

Ltd.

100

9,078

Daiwa

House

Industry

Co.

Ltd.

1,600

41,867

Daiwa

Securities

Group,

Inc.

3,500

14,095

Denso

Corp.

1,200

55,535

Dentsu

Group,

Inc.

600

17,167

Disco

Corp.

100

26,813

Eisai

Co.

Ltd.

700

54,164

ENEOS

Holdings,

Inc.

7,500

25,153

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Japan

–

25.2%

(continued)

FANUC

Corp.

400

84,370

Fast

Retailing

Co.

Ltd.

200

139,105

Fujifilm

Holdings

Corp.

1,000

50,870

Fujitsu

Ltd.

500

58,470

GMO

Payment

Gateway,

Inc.

100

12,215

Hamamatsu

Photonics

KK

300

15,037

Hankyu

Hanshin

Holdings,

Inc.

700

21,293

Hikari

Tsushin,

Inc.

100

23,350

Hitachi

Ltd.

2,200

73,698

Honda

Motor

Co.

Ltd.

4,200

97,829

Hoya

Corp.

900

101,588

Hulic

Co.

Ltd.

1,100

10,165

Idemitsu

Kosan

Co.

Ltd.

600

12,082

INPEX

Corp.

2,700

12,707

Isuzu

Motors

Ltd.

1,300

10,483

ITOCHU

Corp.

3,600

86,091

ITOCHU

Techno-Solutions

Corp.

200

6,801

Japan

Airlines

Co.

Ltd.

b

300

5,214

Japan

Exchange

Group,

Inc.

1,200

29,185

Japan

Post

Holdings

Co.

Ltd.

3,500

23,935

Japan

Real

Estate

Investment

Corp.

a

3

14,693

Japan

Tobacco,

Inc.

2,500

47,111

Kajima

Corp.

1,100

11,701

Kansai

Electric

Power

Co.,

Inc.

(The)

2,400

21,831

KAO

Corp.

1,100

78,075

KDDI

Corp.

3,600

96,164

KEIO

Corp.

300

17,362

Keyence

Corp.

400

180,792

Kikkoman

Corp.

400

19,820

Kintetsu

Group

Holdings

Co.

Ltd.

400

15,917

Kirin

Holdings

Co.

Ltd.

2,100

37,745

Kobayashi

Pharmaceutical

Co.

Ltd.

200

19,457

Kobe

Bussan

Co.

Ltd.

200

5,634

Koito

Manufacturing

Co.

Ltd.

300

14,406

Komatsu

Ltd.

2,200

49,265

Kubota

Corp.

2,700

46,761

Kyocera

Corp.

800

43,857

Kyowa

Kirin

Co.

Ltd.

600

14,865

Lasertec

Corp.

100

8,647

LINE

Corp.

b

100

5,137

Lion

Corp.

800

16,354

M3,

Inc.

1,000

67,218

Makita

Corp.

700

30,802

Marubeni

Corp.

3,900

20,265

McDonald's

Holdings

Co.

Japan

Ltd.

200

9,470

MEIJI

Holdings

Co.

Ltd.

400

28,927

Minebea

Mitsumi,

Inc.

1,000

17,926

Misumi

Group,

Inc.

700

20,691

Mitsubishi

Chemical

Holdings

Corp.

3,200

17,944

Mitsubishi

Corp.

3,600

80,082

Mitsubishi

Electric

Corp.

5,000

64,090

Mitsubishi

Estate

Co.

Ltd.

3,200

47,568

Mitsubishi

Heavy

Industries

Ltd.

800

17,100

Mitsubishi

UFJ

Financial

Group,

Inc.

30,400

119,285

Mitsui

&

Co.

Ltd.

4,000

62,368

Mitsui

Fudosan

Co.

Ltd.

2,300

39,041

Mizuho

Financial

Group,

Inc.

5,860

71,835

Monotaro

Co.

Ltd.

300

16,644

MS&AD

Insurance

Group

Holdings,

Inc.

1,100

29,931

Murata

Manufacturing

Co.

Ltd.

1,500

104,271

Nagoya

Railroad

Co.

Ltd.

600

15,933

NEC

Corp.

600

30,132

47

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Japan

–

25.2%

(continued)

Nexon

Co.

Ltd.

1,100

30,715

Nidec

Corp.

1,300

130,572

Nintendo

Co.

Ltd.

300

163,516

Nippon

Building

Fund,

Inc.

a

3

15,152

Nippon

Paint

Holdings

Co.

Ltd.

500

44,911

Nippon

ProLogis

REIT,

Inc.

a

6

19,744

Nippon

Sanso

Holdings

Corp.

500

7,303

Nippon

Steel

Corp.

b

2,200

21,181

Nippon

Telegraph

&

Telephone

Corp.

3,100

65,120

Nissan

Chemical

Corp.

300

15,841

Nissan

Motor

Co.

Ltd.

b

5,400

18,906

Nissin

Foods

Holdings

Co.

Ltd.

200

17,295

Nitori

Holdings

Co.

Ltd.

200

41,228

Nitto

Denko

Corp.

300

20,978

Nomura

Holdings,

Inc.

7,700

34,213

Nomura

Research

Institute

Ltd.

900

26,645

NTT

Data

Corp.

1,400

15,736

NTT

DoCoMo,

Inc.

2,800

104,109

Obayashi

Corp.

1,700

14,148

OBIC

Co.

Ltd.

200

35,489

Odakyu

Electric

Railway

Co.

Ltd.

900

21,635

Olympus

Corp.

3,000

57,079

Omron

Corp.

500

35,871

ONO

Pharmaceutical

Co.

Ltd.

1,200

34,115

Oracle

Corp.

Japan

100

10,006

Oriental

Land

Co.

Ltd.

500

69,758

ORIX

Corp.

3,100

36,044

Osaka

Gas

Co.

Ltd.

1,400

26,543

Otsuka

Corp.

200

9,221

Otsuka

Holdings

Co.

Ltd.

1,300

47,939

Pan

Pacific

International

Holdings

Corp.

1,400

29,757

Panasonic

Corp.

5,400

49,625

Rakuten

,

Inc.

1,900

18,448

Recruit

Holdings

Co.

Ltd.

3,800

144,308

Renesas

Electronics

Corp.

b

2,300

18,943

Resona

Holdings,

Inc.

5,500

18,019

ROHM

Co.

Ltd.

200

15,305

Santen

Pharmaceutical

Co.

Ltd.

900

15,987

Secom

Co.

Ltd.

500

42,065

Sekisui

Chemical

Co.

Ltd.

1,000

15,496

Sekisui

House

Ltd.

1,600

26,424

Seven

&

i

Holdings

Co.

Ltd.

1,900

57,778

SG

Holdings

Co.

Ltd.

1,200

28,869

Sharp

Corp.

400

4,592

Shimadzu

Corp.

700

19,894

Shimano,

Inc.

200

45,466

Shimizu

Corp.

1,500

10,388

Shin-Etsu

Chemical

Co.

Ltd.

900

119,581

Shionogi

&

Co.

Ltd.

800

37,681

Shiseido

Co.

Ltd.

900

55,529

SMC

Corp.

100

52,898

Softbank

Corp.

3,900

45,234

SoftBank

Group

Corp.

3,900

253,422

Sompo

Holdings,

Inc.

900

33,498

Sony

Corp.

3,000

248,919

Subaru

Corp.

1,400

25,518

Sumitomo

Corp.

2,900

31,749

Sumitomo

Dainippon

Pharma

Co.

Ltd.

1,400

16,365

Sumitomo

Electric

Industries

Ltd.

1,800

19,724

Sumitomo

Metal

Mining

Co.

Ltd.

700

21,581

Sumitomo

Mitsui

Financial

Group,

Inc.

3,200

88,188

Sumitomo

Mitsui

Trust

Holdings,

Inc.

1,000

26,626

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Japan

–

25.2%

(continued)

Sumitomo

Realty

&

Development

Co.

Ltd.

1,100

29,326

Suntory

Beverage

&

Food

Ltd.

300

10,331

Suzuki

Motor

Corp.

1,100

46,898

Sysmex

Corp.

400

37,498

T&D

Holdings,

Inc.

1,300

12,896

Taisei

Corp.

600

18,624

Takeda

Pharmaceutical

Co.

Ltd.

3,800

117,737

TDK

Corp.

300

35,039

Terumo

Corp.

1,700

62,396

Tobu

Railway

Co.

Ltd.

600

16,960

Toho

Co.

Ltd.

400

15,803

Tokio

Marine

Holdings,

Inc.

1,700

75,763

Tokyo

Electric

Power

Co.

Holdings,

Inc.

b

4,300

11,065

Tokyo

Electron

Ltd.

400

106,753

Tokyo

Gas

Co.

Ltd.

300

6,788

Tokyu

Corp.

1,900

22,446

Toray

Industries,

Inc.

3,600

16,199

Toshiba

Corp.

1,000

25,148

Toto

Ltd.

300

13,617

Toyota

Industries

Corp.

400

25,713

Toyota

Motor

Corp.

6,100

396,961

Toyota

Tsusho

Corp.

600

16,639

Trend

Micro,

Inc.

300

16,788

Tsuruha

Holdings,

Inc.

100

13,985

Unicharm

Corp.

1,000

46,298

Welcia

Holdings

Co.

Ltd.

200

7,844

West

Japan

Railway

Co.

700

29,864

Yakult

Honsha

Co.

Ltd.

100

4,840

Yamaha

Corp.

400

18,825

Yamato

Holdings

Co.

Ltd.

1,000

26,344

Yaskawa

Electric

Corp.

700

27,018

Z

Holdings

Corp.

6,200

43,004

7,775,243

Luxembourg

–

0.1%

ArcelorMittal

SA

b

1,839

24,960

Macau

–

0.2%

Galaxy

Entertainment

Group

Ltd.

6,000

39,536

Sands

China

Ltd.

5,600

19,606

59,142

Netherlands

–

4.0%

Adyen

NV

b,c

66

111,284

AKZO

Nobel

NV

469

45,180

ASML

Holding

NV

999

363,070

EXOR

NV

214

11,118

HAL

Trust

199

25,267

Heineken

Holding

NV

224

17,312

Heineken

NV

546

48,464

ING

Groep

NV

b

9,014

61,519

Koninklijke

Ahold

Delhaize

NV

2,542

69,851

Koninklijke

DSM

NV

428

68,526

Koninklijke

Philips

NV

b

2,131

98,981

Royal

Dutch

Shell

PLC,

Class

A

12,548

156,632

Royal

Dutch

Shell

PLC,

Class

B

8,766

105,297

Wolters

Kluwer

NV

631

51,143

1,233,644

New

Zealand

–

0.3%

a2

Milk

Co.

Ltd.

b

1,720

16,642

Auckland

International

Airport

Ltd.

b

3,226

14,924

Fisher

&

Paykel

Healthcare

Corp.

Ltd.

1,341

31,019

Meridian

Energy

Ltd.

2,788

9,766

48

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

New

Zealand

–

0.3%

(continued)

Spark

New

Zealand

Ltd.

4,927

14,621

86,972

Norway

–

0.5%

AKER

BP

ASA

495

7,680

DNB

ASA

b

2,096

28,220

Equinor

ASA

2,903

36,823

Gjensidige

Forsikring

ASA

422

8,004

Mowi

ASA

1,053

16,596

Norsk

Hydro

ASA

b

3,607

10,086

Orkla

ASA

1,800

16,963

Telenor

ASA

1,512

23,284

147,656

Portugal

–

0.1%

EDP

-

Energias

de

Portugal

SA

6,016

29,657

Jeronimo

Martins

SGPS

SA

545

8,659

38,316

Russia

–

0.0%

Polymetal

International

PLC

580

12,295

Singapore

–

0.8%

Ascendas

Real

Estate

Investment

Trust

a

7,300

15,396

Capitaland

Integrated

Commercial

Trust

a

7,100

8,995

CapitaLand

Ltd.

6,500

12,234

City

Developments

Ltd.

1,600

7,429

DBS

Group

Holdings

Ltd.

4,200

62,592

Genting

Singapore

Ltd.

12,600

5,952

Jardine

Cycle

&

Carriage

Ltd.

100

1,301

Oversea-Chinese

Banking

Corp.

Ltd.

9,185

56,637

Singapore

Airlines

Ltd.

3,600

8,937

Singapore

Exchange

Ltd.

1,900

12,050

Singapore

Technologies

Engineering

Ltd.

3,900

9,968

United

Overseas

Bank

Ltd.

3,600

50,065

251,556

South

Africa

–

0.2%

Anglo

American

PLC

3,198

74,893

Spain

–

2.1%

Aena

SME

SA

b,c

208

28,009

Amadeus

IT

Group

SA

1,111

53,047

Banco

Bilbao

Vizcaya

Argentaria

SA

16,622

47,670

Banco

Santander

SA

b

43,504

86,696

CaixaBank

SA

8,772

15,961

Cellnex

Telecom

SA

c

811

52,072

EDP

Renovaveis

SA

348

6,616

Endesa

SA

705

18,896

Ferrovial

SA

1,132

24,493

Grifols

SA

718

19,395

Iberdrola

SA

14,656

172,854

Industria

de

Diseno

Textil

SA

2,449

60,449

Naturgy

Energy

Group

SA

743

13,804

Telefonica

SA

12,907

42,187

642,149

Sweden

–

3.0%

ALFA

Laval

AB

b

665

13,485

ASSA

Abloy

AB,

Class

B

2,297

49,289

Atlas

Copco

AB,

Class

A

1,494

65,946

Atlas

Copco

AB,

Class

B

910

34,892

Epiroc

AB,

Class

A

1,390

20,769

Epiroc

AB,

Class

B

867

12,429

EQT

AB

968

18,439

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Sweden

–

3.0%

(continued)

Essity

AB,

Class

A

64

1,934

Essity

AB,

Class

B

1,402

40,621

Evolution

Gaming

Group

AB

c

315

23,392

Fastighets

AB

Balder,

Class

B

b

214

10,083

Hennes

&

Mauritz

AB,

Class

B

1,802

29,274

Hexagon

AB,

Class

B

b

650

47,495

ICA

Gruppen

AB

206

9,750

Industrivarden

AB,

Class

A

b

358

9,629

Industrivarden

AB,

Class

C

b

371

9,486

Investment

AB

Latour

,

Class

B

275

6,420

Investor

AB,

Class

A

291

17,425

Investor

AB,

Class

B

1,053

63,219

L

E

Lundbergforetagen

AB,

Class

B

b

156

7,021

Lundin

Energy

AB

543

10,361

Nibe

Industrier

AB,

Class

B

b

809

19,504

Sandvik

AB

b

2,560

45,585

Skandinaviska

Enskilda

Banken

AB,

Class

A

b

3,729

31,965

Skandinaviska

Enskilda

Banken

AB,

Class

C

b

115

1,057

Skanska

AB,

Class

B

799

15,018

SKF

AB,

Class

A

79

1,615

SKF

AB,

Class

B

830

16,990

Svenska

Cellulosa

AB

SCA,

Class

A

b

130

1,802

Svenska

Cellulosa

AB

SCA,

Class

B

b

1,344

18,232

Svenska

Handelsbanken

AB,

Class

A

b

3,519

28,512

Svenska

Handelsbanken

AB,

Class

B

b

149

1,438

Swedbank

AB,

Class

A

b

2,160

33,852

Swedish

Match

AB

396

29,834

Tele2

AB,

Class

B

1,109

13,151

Telefonaktiebolaget

LM

Ericsson,

Class

A

208

2,486

Telefonaktiebolaget

LM

Ericsson,

Class

B

6,052

67,502

Telia

Co.

AB

6,085

23,325

Volvo

AB,

Class

A

b

530

10,301

Volvo

AB,

Class

B

b

3,795

73,822

937,350

Switzerland

–

10.0%

ABB

Ltd.

4,454

108,124

Alcon,

Inc.

b

1,130

64,233

Barry

Callebaut

AG

6

12,392

Chocoladefabriken

Lindt

&

Spruengli

AG

5

39,660

CIE

Financiere

Richemont

SA,

Class

A

1,206

75,659

Coca-Cola

HBC

AG

b

430

9,758

Credit

Suisse

Group

AG

5,617

52,851

EMS-

Chemie

Holding

AG

17

14,950

Geberit

AG

86

48,979

Givaudan

SA

19

77,447

Kuehne

+

Nagel

International

AG

133

26,570

LafargeHolcim

Ltd.

b

1,125

48,299

Lonza

Group

AG

173

104,795

Nestle

SA

6,968

783,810

Novartis

AG

5,752

448,650

Partners

Group

Holding

AG

43

38,780

Roche

Holding

AG

1,643

528,366

Roche

Holding

AG,

BR

64

20,613

Schindler

Holding

AG

43

11,044

Schindler

Holding

AG

95

24,306

SGS

SA

12

29,995

Sika

AG

323

79,539

Sonova

Holding

AG

b

127

30,137

STMicroelectronics

NV

1,518

46,240

Straumann

Holding

AG

25

26,076

Swatch

Group

AG

(The)

130

5,310

49

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

98.8%

(continued)

Switzerland

–

10.0%

(continued)

Swatch

Group

AG

(The),

BR

64

13,543

Swiss

Life

Holding

AG

b

78

26,228

Swiss

RE

AG

675

48,415

Swisscom

AG

58

29,508

UBS

Group

AG

8,839

102,658

Zurich

Insurance

Group

AG

347

115,092

3,092,027

United

Kingdom

–

9.7%

3i

Group

PLC

2,269

28,194

Ashtead

Group

PLC

1,058

38,304

Associated

British

Foods

PLC

832

18,261

AstraZeneca

PLC

3,075

308,774

Aviva

PLC

9,176

30,551

BAE

Systems

PLC

7,385

37,909

Barclays

PLC

b

39,958

55,055

British

American

Tobacco

PLC

5,376

170,165

BT

Group

PLC,

Class

A

20,367

26,703

CK

Hutchison

Holdings

Ltd.

6,500

39,143

CNH

Industrial

NV

b

2,687

20,846

Coca-Cola

European

Partners

PLC

494

17,641

Compass

Group

PLC

4,097

55,888

Diageo

PLC

5,521

178,395

Experian

PLC

2,103

76,599

Fiat

Chrysler

Automobiles

NV

b

2,563

31,473

GlaxoSmithKline

PLC

13,285

221,899

Halma

PLC

943

28,873

HSBC

Holdings

PLC

48,386

203,049

Imperial

Brands

PLC

2,197

34,771

Intertek

Group

PLC

376

27,089

Legal

&

General

Group

PLC

14,326

34,232

Lloyds

Banking

Group

PLC

b

191,075

69,239

London

Stock

Exchange

Group

PLC

733

78,456

National

Grid

PLC

8,654

102,833

Natwest

Group

PLC

b,d

12,293

19,742

Ocado

Group

PLC

b

1,363

40,111

Prudential

PLC

5,998

73,118

Reckitt

Benckiser

Group

PLC

1,734

152,460

RELX

PLC

4,639

91,623

Rentokil

Initial

PLC

b

4,287

29,157

Segro

PLC

a

2,559

29,845

Smith

&

Nephew

PLC

2,063

35,651

SSE

PLC

2,396

38,880

Standard

Chartered

PLC

b

6,560

29,840

Tesco

PLC

22,433

59,607

Unilever

NV

3,446

194,883

Unilever

PLC

2,748

156,481

Vodafone

Group

PLC

61,820

82,331

WPP

PLC

2,913

23,224

2,991,295

United

States

–

0.5%

Ferguson

PLC

539

53,816

James

Hardie

Industries

PLC

1,116

27,101

Tenaris

SA

2,025

9,605

Waste

Connections,

Inc.

611

60,516

151,038

Total

Common

Stocks

(cost

$27,220,146)

30,461,529

Preferred

Stocks

–

0.6%

Germany

–

0.5%

Bayerische

Motoren

Werke

AG,

5.79%

123

6,361

Henkel

AG

&

Co.

KGaA

,

2.21%

413

40,180

Sartorius

AG,

0.11%

79

33,441

BNY

Mellon

International

Equity

ETF

(continued)

Description

Shares

Value

($)

Preferred

Stocks

–

0.6%

(continued)

Germany

–

0.5%

(continued)

Volkswagen

AG,

3.62%

474

69,073

149,055

Spain

–

0.1%

Grifols

SA,

Class

B,

1.04%

712

12,026

Total

Preferred

Stocks

(cost

$138,801)

161,081

Principal

Amount

($)

Short-Term

Investments

–

0.1%

U.S.

Treasury

Securities

–

0.1%

U.S.

Treasury

Bills,

0.16%,

2/25/2021

e,f

(cost

$34,982)

35,000

34,989

Shares

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

g,h

(cost

$45,827)

45,827

45,827

Description

Shares

Value

($)

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

g,h

(cost

$26,856)

26,856

26,856

Total

Investments

(cost

$27,466,612)

99.7%

30,730,282

Cash

and

Receivables

(Net)

0.3%

103,680

Net

Assets

100.0%

30,833,962

BR—Bearer

Shares

REIT—Real

Estate

Investment

Trust

50

STATEMENT

OF

INVESTMENTS

(continued)

a

Investment

in

a

real

estate

investment

trust.

b

Non-income

producing

security.

c

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

October

31,

2020,

these

securities

were

valued

at

$490,457

or

1.59%

of

net

asset.

d

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$26,561

and

the

value

of

the

collateral

was

$26,856,

consisting

of

cash

collateral.

e

Held

by

a

counterparty

for

open

exchange

traded

derivative

contracts.

f

Security

is

a

discount

security.

Income

is

recognized

through

the

accretion

of

discount.

g

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

h

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

See

Notes

to

Statements

of

Investments

Description

Value

4/24/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

3,884,733

(3,838,906)

—

—

45,827

0.1

163

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

220,266

(193,410)

—

—

26,856

0.1

73

2

Total

—

4,104,999

(4,032,316)

—

—

72,683

0.2

236

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Financials

17.6

Industrials

15.4

Health

Care

13.5

Consumer

Staples

12.0

Consumer

Discretionary

10.8

Information

Technology

8.3

Materials

7.7

Communication

Services

4.9

Utilities

3.7

Energy

3.4

Real

Estate

2.1

Registered

Investment

Companies

0.2

U.S.

Treasury

Securities

0.1

99.7

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

MSCI

Emerging

Markets

Index

2

12/18/2020

190,894

178,390

(12,504)

51

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

Emerging

Markets

Equity

ETF

Description

Shares

Value

($)

Common

Stocks

–

87.8%

Brazil

–

2.7%

Ambev

SA

25,900

54,890

Atacadao

SA

2,000

6,348

B2W

Cia

Digital

a

600

7,798

B3

SA

-

Brasil

Bolsa

Balcao

12,500

110,150

Banco

Bradesco

SA

8,000

25,154

Banco

BTG

Pactual

SA

1,200

15,082

Banco

do

Brasil

SA

8,600

44,372

BB

Seguridade

Participacoes

SA

5,800

23,840

Centrais

Eletricas

Brasileiras

SA

2,900

15,531

CPFL

Energia

SA

2,600

12,531

Energisa

SA

2,800

20,259

Engie

Brasil

Energia

SA

2,500

17,252

Hapvida

Participacoes

e

Investimentos

SA

b

1,200

13,430

Itausa

-

Investimentos

Itau

SA

5,900

10,539

Lojas

Americanas

SA

4,800

16,841

Magazine

Luiza

SA

16,000

68,068

Natura

&

Co.

Holding

SA

a

5,000

39,967

Notre

Dame

Intermedica

Participacoes

SA

2,700

30,681

Petroleo

Brasileiro

SA

23,900

78,796

Raia

Drogasil

SA

7,500

31,400

Sul

America

SA

200

1,382

Suzano

SA

a

3,700

31,757

Vale

SA

19,600

205,144

WEG

SA

4,600

60,552

941,764

Chile

–

0.3%

Banco

de

Chile

267,300

20,617

Banco

de

Credito

e

Inversiones

SA

595

18,603

Banco

Santander

Chile

112,586

3,937

Empresas

CMPC

SA

6,496

13,496

Empresas

COPEC

SA

2,529

19,277

Enel

Americas

SA

59,273

7,857

Enel

Chile

SA

278,173

18,648

Falabella

SA

5,317

14,563

116,998

China

–

44.0%

AECC

Aviation

Power

Co.

Ltd.,

Class

A

600

3,272

Agricultural

Bank

of

China

Ltd.,

Class

A

56,700

26,657

Agricultural

Bank

of

China

Ltd.,

Class

H

185,000

62,503

Air

China

Ltd.,

Class

A

3,600

3,648

Air

China

Ltd.,

Class

H

18,000

11,606

Airtac

International

Group

1,000

26,850

Alibaba

Group

Holding

Ltd.

a

86,280

3,262,126

Alibaba

Health

Information

Technology

Ltd.

a

24,000

62,670

Anhui

Conch

Cement

Co.

Ltd.,

Class

A

2,400

18,211

Anhui

Conch

Cement

Co.

Ltd.,

Class

H

1,500

9,352

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

A

400

12,549

Anhui

Gujing

Distillery

Co.

Ltd.,

Class

B

600

6,809

ANTA

Sports

Products

Ltd.

6,000

65,997

Autobio

Diagnostics

Co.

Ltd.,

Class

A

100

2,598

Autohome,

Inc.,

ADR

402

38,411

Avary

Holding

Shenzhen

Co.

Ltd.,

Class

A

500

3,653

Baidu,

Inc.,

ADR

a

1,710

227,515

Bank

of

Beijing

Co.

Ltd.,

Class

A

19,400

13,522

Bank

of

China

Ltd.,

Class

A

21,700

10,299

Bank

of

China

Ltd.,

Class

H

480,000

151,647

Bank

of

Communications

Co.

Ltd.,

Class

A

19,000

12,846

Bank

of

Communications

Co.

Ltd.,

Class

H

26,000

12,774

Bank

of

Jiangsu

Co.

Ltd.,

Class

A

4,000

3,588

Bank

of

Nanjing

Co.

Ltd.,

Class

A

3,400

3,882

Bank

of

Ningbo

Co.

Ltd.,

Class

A

4,000

20,286

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

China

–

44.0%

(continued)

Bank

of

Shanghai

Co.

Ltd.,

Class

A

6,800

7,967

Baoshan

Iron

&

Steel

Co.

Ltd.,

Class

A

10,000

7,970

BeiGene

Ltd.

a

2,800

62,139

Beijing

Oriental

Yuhong

Waterproof

Technology

Co.

Ltd.,

Class

A

300

1,660

BOC

Hong

Kong

Holdings

Ltd.

23,000

63,767

BOE

Technology

Group

Co.

Ltd.,

Class

A

18,900

13,342

BOE

Technology

Group

Co.

Ltd.,

Class

B

15,500

5,696

BYD

Co.

Ltd.,

Class

A

900

21,466

BYD

Co.

Ltd.,

Class

H

3,500

69,550

CGN

Power

Co.

Ltd.,

Class

H

b

132,000

28,256

Changchun

High

&

New

Technology

Industry

Group,

Inc.,

Class

A

200

11,179

China

Bohai

Bank

Co.

Ltd.,

Class

H

a,b

27,000

15,702

China

CITIC

Bank

Corp.

Ltd.,

Class

H

88,000

35,745

China

Communications

Construction

Co.

Ltd.,

Class

A

400

441

China

Communications

Construction

Co.

Ltd.,

Class

H

35,000

18,279

China

Conch

Venture

Holdings

Ltd.

9,500

42,203

China

Construction

Bank

Corp.,

Class

A

4,000

3,755

China

Construction

Bank

Corp.,

Class

H

589,000

406,346

China

CSSC

Holdings

Ltd.,

Class

A

a

1,000

2,660

China

Eastern

Airlines

Corp.

Ltd.,

Class

A

16,500

11,303

China

Eastern

Airlines

Corp.

Ltd.,

Class

H

16,000

6,355

China

Everbright

Bank

Co.

Ltd.,

Class

A

12,700

7,430

China

Everbright

Bank

Co.

Ltd.,

Class

H

31,000

10,713

China

Evergrande

Group

17,000

33,760

China

Feihe

Ltd.

b

17,000

38,538

China

Fortune

Land

Development

Co.

Ltd.,

Class

A

3,670

7,707

China

Galaxy

Securities

Co.

Ltd.,

Class

A

2,000

3,507

China

Galaxy

Securities

Co.

Ltd.,

Class

H

17,500

9,568

China

Gas

Holdings

Ltd.

13,400

41,039

China

Jinmao

Holdings

Group

Ltd.

40,000

20,168

China

Life

Insurance

Co.

Ltd.,

Class

H

48,000

104,234

China

Mengniu

Dairy

Co.

Ltd.

a

16,000

75,205

China

Merchants

Bank

Co.

Ltd.,

Class

A

10,900

64,764

China

Merchants

Bank

Co.

Ltd.,

Class

H

24,000

124,722

China

Merchants

Securities

Co.

Ltd.,

Class

A

a

5,460

16,860

China

Merchants

Securities

Co.

Ltd.,

Class

H

a,b

6,600

8,170

China

Merchants

Shekou

Industrial

Zone

Holdings

Co.

Ltd.,

Class

A

1,700

3,567

China

Minsheng

Banking

Corp.

Ltd.,

Class

A

3,000

2,364

China

Minsheng

Banking

Corp.

Ltd.,

Class

H

74,500

40,733

China

Mobile

Ltd.

30,500

185,442

China

Molybdenum

Co.

Ltd.,

Class

A

8,600

5,070

China

Molybdenum

Co.

Ltd.,

Class

H

18,000

6,522

China

National

Nuclear

Power

Co.

Ltd.,

Class

A

24,400

16,133

China

Overseas

Land

&

Investment

Ltd.

22,500

56,287

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

A

3,500

16,669

China

Pacific

Insurance

Group

Co.

Ltd.,

Class

H

14,200

44,221

China

Petroleum

&

Chemical

Corp.,

Class

A

18,400

10,710

China

Petroleum

&

Chemical

Corp.,

Class

H

184,000

71,419

China

Railway

Construction

Corp.

Ltd.,

Class

A

1,700

2,114

China

Railway

Construction

Corp.

Ltd.,

Class

H

20,500

13,852

China

Railway

Group

Ltd.,

Class

A

300

240

China

Railway

Group

Ltd.,

Class

H

4,000

1,836

China

Resources

Beer

Holdings

Co.

Ltd.

8,000

49,569

China

Resources

Cement

Holdings

Ltd.

20,000

26,100

China

Resources

Gas

Group

Ltd.

8,000

34,662

China

Resources

Land

Ltd.

18,000

73,232

52

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

China

–

44.0%

(continued)

China

Satellite

Communications

Co.

Ltd.,

Class

A

1,000

2,583

China

Shenhua

Energy

Co.

Ltd.,

Class

A

3,400

8,449

China

Shenhua

Energy

Co.

Ltd.,

Class

H

26,500

45,791

China

Shipbuilding

Industry

Co.

Ltd.,

Class

A

a

13,000

8,071

China

Southern

Airlines

Co.

Ltd.,

Class

A

a

13,800

11,349

China

Southern

Airlines

Co.

Ltd.,

Class

H

a

14,000

7,312

China

State

Construction

Engineering

Corp.

Ltd.,

Class

A

19,700

15,024

China

Tourism

Group

Duty

Free

Corp.

Ltd.,

Class

A

900

26,784

China

Tower

Corp.

Ltd.,

Class

H

b

220,000

34,327

China

Unicom

Hong

Kong

Ltd.

66,000

40,511

China

United

Network

Communications

Ltd.,

Class

A

8,500

6,051

China

Vanke

Co.

Ltd.,

Class

A

4,900

20,148

China

Vanke

Co.

Ltd.,

Class

H

8,500

26,306

China

Yangtze

Power

Co.

Ltd.,

Class

A

13,600

38,485

Chongqing

Rural

Commercial

Bank

Co.

Ltd.,

Class

A

4,600

3,069

Chongqing

Rural

Commercial

Bank

Co.

Ltd.,

Class

H

23,000

9,165

CITIC

Pacific

Special

Steel

Group

Co.

Ltd.,

Class

A

1,000

2,406

CITIC

Securities

Co.

Ltd.,

Class

A

5,900

25,211

CITIC

Securities

Co.

Ltd.,

Class

H

13,500

29,107

CNOOC

Ltd.

79,000

71,718

Country

Garden

Holdings

Co.

Ltd.

45,858

56,414

Country

Garden

Services

Holdings

Co.

Ltd.

7,000

43,914

CRRC

Corp.

Ltd.,

Class

A

13,900

11,182

CRRC

Corp.

Ltd.,

Class

H

21,000

8,124

CSPC

Pharmaceutical

Group

Ltd.

53,760

56,638

Dali

Foods

Group

Co.

Ltd.

b

20,000

12,379

Daqin

Railway

Co.

Ltd.,

Class

A

300

287

ENN

Energy

Holdings

Ltd.

4,900

61,891

Focus

Media

Information

Technology

Co.

Ltd.,

Class

A

7,000

9,758

Foshan

Haitian

Flavouring

&

Food

Co.

Ltd.,

Class

A

1,400

33,474

Fosun

International

Ltd.

15,000

18,066

Founder

Securities

Co.

Ltd.,

Class

A

a

4,700

6,517

GDS

Holdings

Ltd.,

ADR

a,c

518

43,533

Geely

Automobile

Holdings

Ltd.

32,000

65,693

Gemdale

Corp.,

Class

A

1,400

2,789

GF

Securities

Co.

Ltd.,

Class

A

4,000

9,194

GF

Securities

Co.

Ltd.,

Class

H

7,000

9,018

Gigadevice

Semiconductor

Beijing,

Inc.,

Class

A

100

2,906

Glodon

Co.

Ltd.,

Class

A

800

8,474

GoerTek,

Inc.,

Class

A

1,300

8,801

Great

Wall

Motor

Co.

Ltd.,

Class

A

1,000

3,540

Great

Wall

Motor

Co.

Ltd.,

Class

H

17,500

28,298

Gree

Electric

Appliances

Inc.

of

Zhuhai,

Class

A

1,200

10,465

Greenland

Holdings

Corp.

Ltd.,

Class

A

4,000

3,695

Guangdong

Haid

Group

Co.

Ltd.,

Class

A

400

3,677

Guangdong

Investment

Ltd.

26,000

38,489

Guangzhou

Automobile

Group

Co.

Ltd.,

Class

A

1,500

3,007

Guangzhou

Automobile

Group

Co.

Ltd.,

Class

H

16,000

16,403

Guosen

Securities

Co.

Ltd.,

Class

A

5,900

11,756

Guotai

Junan

Securities

Co.

Ltd.,

Class

A

4,200

11,534

Guotai

Junan

Securities

Co.

Ltd.,

Class

H

b

4,200

5,459

Haidilao

International

Holding

Ltd.

b

5,000

33,012

Haier

Electronics

Group

Co.

Ltd.

8,000

30,329

Haier

Smart

Home

Co.

Ltd.,

Class

A

3,600

13,357

Haitong

Securities

Co.

Ltd.,

Class

A

a

5,300

11,106

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

China

–

44.0%

(continued)

Haitong

Securities

Co.

Ltd.,

Class

H

16,000

13,493

Hangzhou

Hikvision

Digital

Technology

Co.

Ltd.,

Class

A

5,700

38,197

Hansoh

Pharmaceutical

Group

Co.

Ltd.

a,b

6,000

26,732

Henan

Shuanghui

Investment

&

Development

Co.

Ltd.,

Class

A

1,200

8,955

Hengan

International

Group

Co.

Ltd.

500

3,466

Hengli

Petrochemical

Co.

Ltd.,

Class

A

3,000

8,642

Hongta

Securities

Co.

Ltd.,

Class

A

1,000

2,581

Hualan

Biological

Engineering,

Inc.,

Class

A

600

4,585

Huaneng

Lancang

River

Hydropower,

Inc.,

Class

A

3,300

2,024

Huaneng

Power

International,

Inc.,

Class

A

13,800

10,051

Huaneng

Power

International,

Inc.,

Class

H

18,000

6,708

Huatai

Securities

Co.

Ltd.,

Class

A

4,000

12,155

Huatai

Securities

Co.

Ltd.,

Class

H

b

8,600

13,884

Huaxia

Bank

Co.

Ltd.,

Class

A

14,100

12,753

Huayu

Automotive

Systems

Co.

Ltd.,

Class

A

700

3,251

Huazhu

Group

Ltd.,

ADR

c

709

28,098

Hundsun

Technologies,

Inc.,

Class

A

800

11,097

Iflytek

Co.

Ltd.,

Class

A

2,000

11,355

Industrial

&

Commercial

Bank

of

China

Ltd.,

Class

H

445,000

250,192

Industrial

Bank

Co.

Ltd.,

Class

A

10,100

26,832

Inner

Mongolia

Yili

Industrial

Group

Co.

Ltd.,

Class

A

3,200

18,975

Inspur

Electronic

Information

Industry

Co.

Ltd.,

Class

A

200

910

JD.com,

Inc.,

ADR

a

5,380

438,578

Jiangsu

Hengli

Hydraulic

Co.

Ltd.,

Class

A

444

5,014

Jiangsu

Hengrui

Medicine

Co.

Ltd.,

Class

A

2,700

35,800

Jiangsu

Yanghe

Brewery

Joint-Stock

Co.

Ltd.,

Class

A

800

20,066

Kangji

Medical

Holdings

Ltd.

a

2,000

5,442

Ke

Holdings,

Inc.,

ADR

a,c

500

34,875

Kingsoft

Cloud

Holdings

Ltd.,

ADR

a,c

83

2,411

Kweichow

Moutai

Co.

Ltd.,

Class

A

600

149,550

LI

Auto,

Inc.,

ADR

a

446

8,996

Li

Ning

Co

Ltd.

12,000

61,897

Lingyi

iTech

Guangdong

Co,

Class

A

3,000

5,834

Logan

Group

Co.

Ltd.

8,000

12,503

Longfor

Group

Holdings

Ltd.

b

9,000

49,150

LONGi

Green

Energy

Technology

Co.

Ltd.,

Class

A

2,000

22,683

Luxshare

Precision

Industry

Co.

Ltd.,

Class

A

3,400

27,839

Luzhou

Laojiao

Co.

Ltd.,

Class

A

700

18,022

Meituan,

Class

B

a

24,200

899,365

Muyuan

Foods

Co.

Ltd.,

Class

A

1,800

19,042

NARI

Technology

Co.

Ltd.,

Class

A

2,500

7,746

NAURA

Technology

Group

Co.

Ltd.,

Class

A

200

5,104

NetEase,

Inc.,

ADR

2,395

207,862

New

China

Life

Insurance

Co.

Ltd.,

Class

A

1,000

9,582

New

China

Life

Insurance

Co.

Ltd.,

Class

H

4,700

18,697

New

Hope

Liuhe

Co.

Ltd.,

Class

A

1,700

6,820

New

Oriental

Education

&

Technology

Group,

Inc.,

ADR

a

773

123,974

Ningxia

Baofeng

Energy

Group

Co.

Ltd.,

Class

A

1,000

1,518

Offcn

Education

Technology

Co.

Ltd.,

Class

A

1,100

6,488

Orient

Securities

Co.

Ltd.,

Class

A

4,700

7,534

People's

Insurance

Co.

Group

of

China

Ltd.

(The),

Class

H

32,000

9,491

Perfect

World

Co.

Ltd.,

Class

A

750

3,142

PetroChina

Co.

Ltd.,

Class

H

10,000

2,798

53

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

China

–

44.0%

(continued)

Pinduoduo,

Inc.,

ADR

a

2,220

199,756

Ping

An

Bank

Co.

Ltd.,

Class

A

10,000

26,492

Ping

An

Healthcare

And

Technology

Co.

Ltd.

a,b

3,200

41,264

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

A

5,700

66,212

Ping

An

Insurance

Group

Co.

of

China

Ltd.,

Class

H

33,000

338,517

Poly

Developments

and

Holdings

Group

Co.

Ltd.,

Class

A

5,600

12,838

Postal

Savings

Bank

of

China

Co.

Ltd.,

Class

H

b

10,000

4,900

Power

Construction

Corp.

of

China

Ltd.,

Class

A

6,000

3,439

Rongsheng

Petro

Chemical

Co.

Ltd.,

Class

A

4,900

13,939

SAIC

Motor

Corp.

Ltd.,

Class

A

4,300

14,857

Sanan

Optoelectronics

Co.

Ltd.,

Class

A

1,900

6,304

Sany

Heavy

Industry

Co.

Ltd.,

Class

A

3,800

14,717

Seazen

Holdings

Co.

Ltd.,

Class

A

1,000

4,852

Semiconductor

Manufacturing

International

Corp.

a

24,500

71,874

SF

Holding

Co.

Ltd.,

Class

A

1,400

17,301

Shaanxi

Coal

Industry

Co.

Ltd.,

Class

A

7,800

10,186

Shandong

Gold

Mining

Co.

Ltd.,

Class

A

2,520

8,944

Shandong

Gold

Mining

Co.

Ltd.,

Class

H

b

1,400

3,289

Shanghai

Electric

Group

Co.

Ltd.,

Class

A

a

6,300

4,645

Shanghai

Electric

Group

Co.

Ltd.,

Class

H

a

2,000

567

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

A

700

5,681

Shanghai

Fosun

Pharmaceutical

Group

Co.

Ltd.,

Class

H

3,500

14,375

Shanghai

International

Airport

Co.

Ltd.,

Class

A

1,300

12,825

Shanghai

International

Port

Group

Co.

Ltd.,

Class

A

12,800

7,985

Shanghai

Pudong

Development

Bank

Co.

Ltd.,

Class

A

5,800

8,016

Shanxi

Xinghuacun

Fen

Wine

Factory

Co.

Ltd.,

Class

A

400

13,440

Shengyi

Technology

Co.

Ltd.,

Class

A

100

357

Shennan

Circuits

Co.

Ltd.,

Class

A

100

1,609

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

A

23,800

17,903

Shenwan

Hongyuan

Group

Co.

Ltd.,

Class

H

b

6,400

1,618

Shenzhen

Goodix

Technology

Co.

Ltd.,

Class

A

100

2,564

Shenzhou

International

Group

Holdings

Ltd.

4,800

82,880

Shimao

Property

Holdings

Ltd.

6,000

21,161

Sun

Art

Retail

Group

Ltd.

1,500

1,621

Sunac

China

Holdings

Ltd.

15,000

55,320

Suning.com

Co.

Ltd.,

Class

A

1,400

2,025

Sunny

Optical

Technology

Group

Co.

Ltd.

4,500

74,392

TAL

Education

Group,

ADR

a

2,351

156,247

TCL

Technology

Group

Corp.,

Class

A

4,400

3,960

Tencent

Holdings

Ltd.

35,000

2,667,363

Tingyi

Cayman

Islands

Holding

Corp.

12,000

21,911

Tongwei

Co.

Ltd.

1,400

6,415

Topsports

International

Holdings

Ltd.

b

9,000

12,302

Trip.com

Group

Ltd.,

ADR

a

2,723

78,313

Tsingtao

Brewery

Co.

Ltd.,

Class

A

300

3,547

Tsingtao

Brewery

Co.

Ltd.,

Class

H

2,000

16,519

Unisplendour

Corp.

Ltd.,

Class

A

140

460

Vipshop

Holdings

Ltd.,

ADR

a

1,000

21,400

Wanhua

Chemical

Group

Co.

Ltd.,

Class

A

1,600

18,743

Want

Want

China

Holdings

Ltd.

46,000

30,371

Weichai

Power

Co.

Ltd.,

Class

A

2,000

4,516

Weichai

Power

Co.

Ltd.,

Class

H

8,000

15,103

Will

Semiconductor

Ltd.,

Class

A

200

5,911

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

China

–

44.0%

(continued)

Wingtech

Technology

Co.

Ltd.,

Class

A

600

9,009

Wuhu

Sanqi

Interactive

Entertainment

Network

Technology

Group

Co.

Ltd.,

Class

A

200

884

Wuliangye

Yibin

Co.

Ltd.,

Class

A

1,900

69,291

Wuxi

AppTec

Co.

Ltd.,

Class

A

1,200

20,188

Wuxi

AppTec

Co.

Ltd.,

Class

H

b

1,100

17,518

Wuxi

Biologics

Cayman,

Inc.

a,b

5,000

139,655

Xiaomi

Corp.,

Class

B

a,b

81,800

232,061

Yihai

International

Holding

Ltd.

a

3,000

39,691

Yonghui

Superstores

Co.

Ltd.,

Class

A

1,000

1,166

Yonyou

Network

Technology

Co.

Ltd.,

Class

A

2,000

12,880

Yum

China

Holdings,

Inc.

2,428

129,242

Yunda

Holding

Co.

Ltd.,

Class

A

300

865

Yunnan

Baiyao

Group

Co.

Ltd.,

Class

A

600

9,220

Zhangzhou

Pientzehuang

Pharmaceutical

Co.

Ltd.,

Class

A

300

10,267

Zhejiang

Century

Huatong

Group

Co.

Ltd.,

Class

A

a

2,280

2,903

Zhejiang

NHU

Co.

Ltd.,

Class

A

500

2,168

Zhejiang

Sanhua

Intelligent

Controls

Co.

Ltd.,

Class

A

1,600

5,839

Zhejiang

Supor

Co.

Ltd.,

Class

A

500

5,273

Zhongsheng

Group

Holdings

Ltd.

2,500

17,763

Zijin

Mining

Group

Co.

Ltd.,

Class

A

11,600

12,102

Zijin

Mining

Group

Co.

Ltd.,

Class

H

34,000

24,596

ZTE

Corp.,

Class

A

200

963

ZTE

Corp.,

Class

H

8,600

18,941

ZTO

Express

Cayman,

Inc.,

ADR

2,378

68,914

15,107,129

Colombia

–

0.1%

Banco

de

Bogota

SA

654

11,894

Bancolombia

SA

1,655

10,536

Ecopetrol

SA

34,756

16,113

38,543

Czech

Republic

–

0.1%

CEZ

AS

1,020

19,249

Egypt

–

0.1%

Commercial

International

Bank

Egypt

SAE

8,915

34,666

Greece

–

0.0%

Hellenic

Telecommunications

Organization

SA

1,437

19,116

Hong

Kong

–

0.2%

Sino

Biopharmaceutical

Ltd.

63,500

64,033

Hungary

–

0.2%

MOL

Hungarian

Oil

&

Gas

PLC

a

1,956

9,483

OTP

Bank

Nyrt

a

1,471

45,814

55,297

Indonesia

–

1.2%

Astra

International

Tbk

PT

127,600

47,332

Bank

Central

Asia

Tbk

PT

69,700

137,970

Bank

Mandiri

(Persero)

Tbk

PT

117,600

46,437

Bank

Negara

Indonesia

(Persero)

Tbk

PT

40,200

13,029

Bank

Rakyat

Indonesia

(Persero)

Tbk

PT

334,500

76,849

Barito

Pacific

Tbk

PT

a

179,700

11,059

Chandra

Asri

Petrochemical

Tbk

PT

14,900

8,150

Charoen

Pokphand

Indonesia

Tbk

PT

42,800

17,120

Gudang

Garam

Tbk

PT

a

2,100

5,884

54

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

Indonesia

–

1.2%

(continued)

Indofood

CBP

Sukses

Makmur

Tbk

PT

14,100

9,304

Telekomunikasi

Indonesia

(Persero)

Tbk

PT

204,300

36,599

Unilever

Indonesia

Tbk

PT

30,300

16,212

425,945

Malaysia

–

1.8%

Axiata

Group

BHD

21,000

14,809

CIMB

Group

Holdings

BHD

48,600

34,505

Dialog

Group

BHD

32,000

28,496

Digi.com

BHD

7,100

6,442

Genting

BHD

6,800

4,844

Genting

Malaysia

BHD

24,900

11,986

Hap

Seng

Consolidated

BHD

5,200

9,174

Hartalega

Holdings

BHD

9,500

41,155

Hong

Leong

Bank

BHD

5,300

18,878

Hong

Leong

Financial

Group

BHD

2,000

6,787

IHH

Healthcare

BHD

20,200

24,162

IOI

Corp.

BHD

20,400

21,112

KLCCP

Stapled

Group

4,800

8,780

Kuala

Lumpur

Kepong

BHD

3,200

16,343

Malayan

Banking

BHD

43,400

73,117

Maxis

BHD

15,100

17,444

MISC

BHD

6,400

10,151

Nestle

Malaysia

BHD

600

20,130

Petronas

Chemicals

Group

BHD

16,800

23,653

Petronas

Dagangan

BHD

3,400

14,107

Petronas

Gas

BHD

5,000

18,941

PPB

Group

BHD

3,700

16,741

Press

Metal

Aluminium

Holdings

BHD

9,900

13,081

Public

Bank

BHD

19,100

69,321

RHB

Bank

BHD

16,300

16,594

Sime

Darby

Plantation

BHD

17,500

20,385

Telekom

Malaysia

BHD

7,000

7,059

Tenaga

Nasional

BHD

1,600

3,674

Top

Glove

Corp.

BHD

25,300

52,183

624,054

Mexico

–

1.1%

America

Movil

SAB

de

CV,

Series

L

136,000

82,389

Arca

Continental

SAB

de

CV

2,200

9,564

Becle

SAB

de

CV

2,200

4,629

Fomento

Economico

Mexicano

SAB

de

CV

10,700

57,384

Grupo

Bimbo

SAB

de

CV

7,000

13,489

Grupo

Elektra

SAB

de

CV

570

32,315

Grupo

Financiero

Banorte

SAB

de

CV,

Class

O

a

15,300

68,024

Grupo

Mexico

SAB

de

CV,

Series

B

18,100

51,448

Wal-Mart

de

Mexico

SAB

de

CV

29,100

70,242

389,484

Peru

–

0.1%

Credicorp

Ltd.

241

27,638

Philippines

–

0.8%

Aboitiz

Equity

Ventures,

Inc.

12,900

11,874

Ayala

Corp.

1,590

25,065

Ayala

Land,

Inc.

32,900

22,432

Bank

of

The

Philippine

Islands

9,940

15,105

BDO

Unibank,

Inc.

4,820

8,853

Globe

Telecom,

Inc.

120

5,033

JG

Summit

Holdings,

Inc.

19,162

25,437

Manila

Electric

Co.

1,760

10,909

PLDT,

Inc.

395

10,838

San

Miguel

Corp.

4,590

9,673

San

Miguel

Food

and

Beverage,

Inc.

4,820

6,349

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

Philippines

–

0.8%

(continued)

SM

Investments

Corp.

3,140

61,632

SM

Prime

Holdings,

Inc.

60,900

42,404

Universal

Robina

Corp.

5,010

14,254

269,858

Poland

–

0.5%

Bank

Polska

Kasa

Opieki

SA

a

1,219

13,000

CD

Projekt

SA

a

386

32,662

Cyfrowy

Polsat

SA

1,137

7,080

Dino

Polska

SA

a,b

268

14,699

ING

Bank

Slaski

SA

a

493

12,761

KGHM

Polska

Miedz

SA

a

504

15,023

Polski

Koncern

Naftowy

ORLEN

SA

2,945

28,308

Polskie

Gornictwo

Naftowe

i

Gazownictwo

SA

13,718

14,432

Powszechna

Kasa

Oszczednosci

Bank

Polski

SA

a

6,020

28,789

Powszechny

Zaklad

Ubezpieczen

SA

a

200

1,090

Santander

Bank

Polska

SA

a

188

5,834

173,678

Qatar

–

0.7%

Industries

Qatar

QSC

13,141

32,536

Masraf

Al

Rayan

QSC

20,421

24,089

Mesaieed

Petrochemical

Holding

Co.

23,347

11,895

Ooredoo

QPSC

5,087

9,263

Qatar

Islamic

Bank

SAQ

7,740

34,438

Qatar

National

Bank

QPSC

27,000

131,255

243,476

Russia

–

2.3%

Gazprom

PJSC

61,080

119,106

LUKOIL

PJSC

2,510

127,730

MMC

Norilsk

Nickel

PJSC

338

80,206

Mobile

TeleSystems

PJSC

4,690

18,350

Novatek

PJSC

6,894

82,828

Novolipetskiy

Metallurgicheskiy

Kombinat

PAO

6,450

15,093

Polyus

PJSC

172

33,670

Rosneft

Oil

Co.

PJSC

13,520

59,718

Sberbank

of

Russia

PJSC

61,920

156,600

Severstal

PAO

1,324

18,096

Surgutneftegas

PJSC

43,300

17,949

Tatneft

PJSC

9,000

46,479

775,825

Saudi

Arabia

–

2.3%

Al

Rajhi

Bank

7,691

134,941

Alinma

Bank

a

8,021

32,680

Almarai

Co.

JSC

1,506

20,721

Banque

Saudi

Fransi

2,430

19,244

National

Commercial

Bank

8,081

84,143

Riyad

Bank

7,950

38,157

Samba

Financial

Group

5,450

40,109

Saudi

Arabian

Fertilizer

Co.

1,196

24,046

Saudi

Arabian

Mining

Co.

a

2,608

25,939

Saudi

Arabian

Oil

Co.

b

10,295

92,510

Saudi

Basic

Industries

Corp.

5,525

132,589

Saudi

Electricity

Co.

4,523

22,818

Saudi

Telecom

Co.

3,768

100,171

Yanbu

National

Petrochemical

Co.

1,459

22,370

790,438

South

Africa

–

3.0%

ABSA

Group

Ltd.

4,517

24,166

Anglo

American

Platinum

Ltd.

369

24,195

Bid

Corp.

Ltd.

2,121

29,070

Capitec

Bank

Holdings

Ltd.

a

446

31,291

55

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

South

Africa

–

3.0%

(continued)

Discovery

Ltd.

2,788

18,359

Firstrand

Ltd.

32,721

75,717

Gold

Fields

Ltd.

5,229

55,560

Impala

Platinum

Holdings

Ltd.

4,885

42,922

Kumba

Iron

Ore

Ltd.

288

8,513

MTN

Group

Ltd.

10,202

36,284

Naspers

Ltd.,

Class

N

a

2,677

520,831

Old

Mutual

Ltd.

17,881

10,322

Remgro

Ltd.

953

5,066

Sanlam

Ltd.

9,810

28,539

Sibanye

Stillwater

Ltd.

13,466

38,893

Standard

Bank

Group

Ltd.

8,497

55,468

Vodacom

Group

Ltd.

3,936

29,681

1,034,877

South

Korea

–

11.8%

Amorepacific

Corp.

123

17,127

Amorepacific

Group

10

384

Celltrion

Healthcare

Co.

Ltd.

a

475

35,457

Celltrion,

Inc.

a

660

140,178

Coway

Co.

Ltd.

a

322

19,694

Hana

Financial

Group,

Inc.

1,832

49,082

Hanjin

Kal

Corp.

50

3,292

Hanon

Systems

1,214

11,983

HLB,

Inc.

a

277

22,459

Hyundai

Engineering

&

Construction

Co.

Ltd.

53

1,432

Hyundai

Heavy

Industries

Holdings

Co.

Ltd.

48

9,074

Hyundai

Mobis

Co.

Ltd.

414

82,275

Hyundai

Motor

Co.

900

130,475

Industrial

Bank

of

Korea

1,737

12,507

Kakao

Corp.

317

92,192

Kangwon

Land,

Inc.

99

1,841

KB

Financial

Group,

Inc.

2,412

85,239

KIA

Motors

Corp.

1,578

70,229

Korea

Electric

Power

Corp.

a

685

12,043

Korea

Shipbuilding

&

Offshore

Engineering

Co.

Ltd.

a

251

17,342

Korea

Zinc

Co.

Ltd.

80

26,967

KT&G

Corp.

770

54,966

LG

Chem

Ltd.

292

157,233

LG

Corp.

824

49,235

LG

Display

Co.

Ltd.

a

1,280

15,849

LG

Electronics,

Inc.

637

47,156

LG

Household

&

Health

Care

Ltd.

51

67,419

LG

Uplus

Corp.

332

3,233

Lotte

Chemical

Corp.

80

16,427

Mirae

Asset

Daewoo

Co.

Ltd.

2,374

17,512

NAVER

Corp.

886

226,439

NCSoft

Corp.

97

66,336

Netmarble

Corp.

a,b

254

26,190

Orion

Corp.

68

6,502

POSCO

394

72,224

Samsung

Biologics

Co.

Ltd.

a,b

100

60,104

Samsung

C&T

Corp.

583

56,774

Samsung

Electro-Mechanics

Co.

Ltd.

360

42,355

Samsung

Electronics

Co.

Ltd.

31,400

1,566,264

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.

203

32,023

Samsung

Life

Insurance

Co.

Ltd.

674

37,540

Samsung

SDI

Co.

Ltd.

343

133,609

Samsung

SDS

Co.

Ltd.

250

37,124

Shinhan

Financial

Group

Co.

Ltd.

2,704

72,324

SK

Holdings

Co.

Ltd.

229

36,831

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

South

Korea

–

11.8%

(continued)

SK

Hynix,

Inc.

2,914

205,190

SK

Innovation

Co.

Ltd.

351

38,821

SK

Telecom

Co.

Ltd.

260

49,035

S-Oil

Corp.

50

2,393

Woori

Financial

Group,

Inc.

2,840

22,250

4,060,630

Taiwan

–

12.0%

Accton

Technology

Corp.

3,000

21,763

Advantech

Co.

Ltd.

3,299

33,332

ASE

Technology

Holding

Co.

Ltd.

28,000

61,867

Asia

Cement

Corp.

10,000

14,386

Asustek

Computer,

Inc.

4,000

33,912

Catcher

Technology

Co.

Ltd.

5,000

31,552

Cathay

Financial

Holding

Co.

Ltd.

51,000

68,467

Chailease

Holding

Co.

Ltd.

7,280

35,250

Chang

Hwa

Commercial

Bank

Ltd.

41,600

24,797

Cheng

Shin

Rubber

Industry

Co.

Ltd.

14,000

17,669

China

Development

Financial

Holding

Corp.

81,000

23,731

China

Life

Insurance

Co.

Ltd.

11,660

7,806

China

Steel

Corp.

78,000

55,357

Chunghwa

Telecom

Co.

Ltd.

23,000

86,038

CTBC

Financial

Holding

Co.

Ltd.

110,000

69,415

Delta

Electronics,

Inc.

12,000

79,710

E.Sun

Financial

Holding

Co.

Ltd.

78,817

66,959

Far

Eastern

New

Century

Corp.

22,000

19,805

Far

Eastone

Telecommunications

Co.

Ltd.

10,000

20,976

Feng

Tay

Enterprise

Co.

Ltd.

3,600

21,774

First

Financial

Holding

Co.

Ltd.

57,950

40,621

Formosa

Chemicals

&

Fibre

Corp.

23,000

55,322

Formosa

Petrochemical

Corp.

11,000

30,227

Formosa

Plastics

Corp.

25,000

69,135

Fubon

Financial

Holding

Co.

Ltd.

46,000

65,453

Globalwafers

Co.

Ltd.

2,000

29,017

Hon

Hai

Precision

Industry

Co.

Ltd.

76,000

205,919

Hotai

Motor

Co.

Ltd.

2,000

42,093

Hua

Nan

Financial

Holdings

Co.

Ltd.

53,417

32,121

Lite-On

Technology

Corp.

15,000

24,411

MediaTek,

Inc.

9,000

213,330

Mega

Financial

Holding

Co.

Ltd.

66,000

63,569

Nan

Ya

Plastics

Corp.

32,000

65,670

Nanya

Technology

Corp.

8,000

16,166

Novatek

Microelectronics

Corp.

3,000

28,004

Pegatron

Corp.

12,000

25,801

President

Chain

Store

Corp.

4,000

36,079

Quanta

Computer,

Inc.

18,000

45,309

Realtek

Semiconductor

Corp.

3,000

37,286

Shanghai

Commercial

&

Savings

Bank

Ltd.

(The)

29,000

37,564

Shin

Kong

Financial

Holding

Co.

Ltd.

73,000

20,315

SinoPac

Financial

Holdings

Co.

Ltd.

85,000

31,797

Taishin

Financial

Holding

Co.

Ltd.

76,341

33,629

Taiwan

Cement

Corp.

25,200

35,725

Taiwan

Cooperative

Financial

Holding

Co.

Ltd.

59,740

40,100

Taiwan

High

Speed

Rail

Corp.

12,000

12,691

Taiwan

Mobile

Co.

Ltd.

10,000

34,157

Taiwan

Semiconductor

Manufacturing

Co.

Ltd.

110,000

1,661,335

Uni-President

Enterprises

Corp.

34,000

72,865

United

Microelectronics

Corp.

60,000

64,398

Vanguard

International

Semiconductor

Corp.

5,000

16,292

Win

Semiconductors

Corp.

2,000

21,746

Wiwynn

Corp.

1,000

25,416

Yageo

Corp.

2,000

24,857

56

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Common

Stocks

–

87.8%

(continued)

Taiwan

–

12.0%

(continued)

Yuanta

Financial

Holding

Co.

Ltd.

68,640

42,595

Zhen

Ding

Technology

Holding

Ltd.

3,000

12,691

4,108,272

Tanzania

–

0.2%

AngloGold

Ashanti

Ltd.

2,478

56,248

Thailand

–

1.4%

Advanced

INFO

Service

PCL,

NVDR

5,100

28,226

Airports

of

Thailand

PCL,

NVDR

22,600

37,525

Asset

World

Corp.

PCL,

NVDR

18,200

1,705

Bangkok

Bank

PCL,

NVDR

5,400

16,763

Bangkok

Dusit

Medical

Services

PCL,

NVDR

44,000

24,705

Bangkok

Expressway

&

Metro

PCL,

NVDR

78,200

20,574

Bank

of

Ayudhya

PCL,

NVDR

21,300

12,916

Berli

Jucker

PCL,

NVDR

2,800

2,583

BTS

Group

Holdings

PCL,

NVDR

16,000

4,569

Central

Pattana

PCL,

NVDR

300

371

Central

Retail

Corp.

PCL,

NVDR

a

17,700

15,191

Charoen

Pokphand

Foods

PCL,

NVDR

30,300

24,547

CP

ALL

PCL,

NVDR

a

25,400

43,804

Electricity

Generating

PCL,

NVDR

400

2,130

Energy

Absolute

PCL,

NVDR

15,600

19,020

Global

Power

Synergy

PCL,

NVDR

3,000

4,981

Gulf

Energy

Development

PCL,

NVDR

10,120

9,254

Home

Product

Center

PCL,

NVDR

25,000

11,230

Indorama

Ventures

PCL,

NVDR

1,000

709

Intouch

Holdings

PCL,

NVDR

9,000

15,449

Kasikornbank

PCL,

NVDR

400

979

Krung

Thai

Bank

PCL,

NVDR

65,900

18,289

PTT

Exploration

&

Production

PCL,

NVDR

12,900

32,594

PTT

Global

Chemical

PCL,

NVDR

7,000

8,984

PTT

PCL,

NVDR

64,500

64,153

Siam

Cement

PCL

(The),

NVDR

2,100

22,774

Siam

Commercial

Bank

PCL

(The),

NVDR

11,900

24,817

468,842

Turkey

–

0.3%

Akbank

T.A.S.

a

24,198

13,769

Aselsan

Elektronik

Sanayi

ve

Ticaret

AS

3,722

7,437

BIM

Birlesik

Magazalar

AS

2,602

20,734

Enka

Insaat

ve

Sanayi

AS

12,338

10,612

Eregli

Demir

ve

Celik

Fabrikalari

TAS

11,492

13,064

KOC

Holding

AS

3,879

6,552

Tupras

Turkiye

Petrol

Rafinerileri

AS

a

1,122

10,005

Turk

Telekomunikasyon

AS

100

77

Turkcell

Iletisim

Hizmetleri

AS

1,987

3,461

Turkiye

Garanti

Bankasi

AS

a

11,123

8,757

Turkiye

Is

Bankasi

AS,

Class

C

a

15,075

9,189

103,657

United

Arab

Emirates

–

0.6%

Abu

Dhabi

Commercial

Bank

PJSC

17,599

28,124

Emirates

NBD

Bank

PJSC

8,011

20,719

Emirates

Telecommunications

Group

Co.

PJSC

9,907

45,528

First

Abu

Dhabi

Bank

PJSC

25,019

78,058

International

Holdings

Co.

PJSC

a

2,197

22,944

195,373

United

States

–

0.0%

JBS

SA

5,700

19,138

Total

Common

Stocks

(cost

$24,485,547)

30,164,228

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Preferred

Stocks

–

2.1%

Brazil

–

1.1%

Banco

Bradesco

SA,

3.33%

26,600

92,726

Centrais

Eletricas

Brasileiras

SA,

Class

B,

5.77%

900

4,831

Itau

Unibanco

Holding

SA,

5.05%

30,500

124,253

Itausa

-

Investimentos

Itau

SA,

2.97%

29,100

45,876

Lojas

Americanas

SA,

0.67%

1,500

5,999

Petroleo

Brasileiro

SA,

2.80%

24,900

81,705

Telefonica

Brasil

SA,

7.42%

1,000

7,378

362,768

Chile

–

0.1%

Sociedad

Quimica

y

Minera

de

Chile

SA,

Class

B,

2.88%

654

23,869

Colombia

–

0.0%

Bancolombia

SA,

6.61%

1,896

12,120

Grupo

Aval

Acciones

y

Valores

SA,

6.74%

25,691

5,865

17,985

Russia

–

0.1%

Sberbank

of

Russia

PJSC,

9.35%

4,890

11,910

Surgutneftegas

PJSC,

2.56%

65,000

29,647

Tatneft

PJSC,

Series

3,

8.57%

200

1,000

42,557

South

Korea

–

0.8%

Amorepacific

Corp.,

1.89%

24

1,108

Amorepacific

Group,

1.72%

30

450

Hyundai

Motor

Co.,

3.82%

229

15,863

Hyundai

Motor

Co.,

3.79%

160

11,266

Hyundai

Motor

Co.,

3.96%

35

2,341

LG

Chem

Ltd.,

0.65%

40

10,928

LG

Electronics,

Inc.,

2.45%

102

2,890

LG

Household

&

Health

Care

Ltd.,

1.58%

16

9,744

Samsung

Electro-Mechanics

Co.

Ltd.,

1.88%

16

849

Samsung

Electronics

Co.

Ltd.,

2.71%

5,000

220,763

Samsung

Fire

&

Marine

Insurance

Co.

Ltd.,

5.89%

24

3,003

S-Oil

Corp.,

0.39%

20

554

279,759

Total

Preferred

Stocks

(cost

$664,751)

726,938

Exchange-Traded

Funds

–

9.8%

United

States

–

9.8%

iShares

MSCI

India

ETF

c

(cost

$2,602,455)

99,540

3,343,549

Principal

Amount

($)

Short-Term

Investments

–

0.1%

U.S.

Treasury

Securities

–

0.1%

U.S.

Treasury

Bills,

0.16%-0.17%,

2/25/2021

d,e

(cost

$44,977)

45,000

44,986

Shares

Investment

Companies

–

0.1%

Registered

Investment

Companies

–

0.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

f,g

(cost

$28,912)

28,912

28,912

57

a

Non-income

producing

security.

b

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

October

31,

2020,

these

securities

were

valued

at

$925,149

or

2.69%

of

net

asset.

c

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$2,248,098

and

the

value

of

the

collateral

was

$2,308,125,

consisting

of

cash

collateral

of

$1,827,114

and

U.S.

Government

&

Agency

securities

valued

at

$481,011.

d

Held

by

a

counterparty

for

open

exchange

traded

derivative

contracts.

e

Security

is

a

discount

security.

Income

is

recognized

through

the

accretion

of

discount.

f

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

g

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

BNY

Mellon

Emerging

Markets

Equity

ETF

(continued)

Description

Shares

Value

($)

Investment

of

Cash

Collateral

for

Securities

Loaned

–

5.3%

Registered

Investment

Companies

–

5.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

f,g

(cost

$1,827,114)

1,827,114

1,827,114

Total

Investments

(cost

$29,653,756)

105.2%

36,135,727

Liabilities,

Less

Cash

and

Receivables

(5.2)%

(1,784,984)

Net

Assets

100.0%

34,350,743

ADR—American

Depositary

Receipt

ETF—Exchange-Traded

Fund

NVDR—Non-Voting

Depositary

Receipt

Description

Value

4/24/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

6,321,872

(6,292,960)

—

—

28,912

0.1

200

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

11,535,605

(9,708,491)

—

—

1,827,114

5.3

1,987

2

Total

—

17,857,477

(16,001,451)

—

—

1,856,026

5.4

2,187

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Consumer

Discretionary

20.9

Financials

16.9

Information

Technology

16.0

Registered

Investment

Companies

15.2

Communication

Services

13.1

Materials

5.4

Consumer

Staples

4.9

Energy

3.6

Health

Care

3.1

Industrials

2.7

Real

Estate

1.8

Utilities

1.5

U.S.

Treasury

Securities

0.1

105.2

58

STATEMENT

OF

INVESTMENTS

(continued)

See

Notes

to

Financial

Statements

†

Based

on

net

assets.

Futures

Description

Number

of

Contracts

Expiration

Notional

Value

($)

Market

Value

($)

Unrealized

Appreciation

(Depreciation)

($)

Futures

Long

MSCI

Emerging

Markets

Index

2

12/18/2020

111,484

110,190

(1,294)

59

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

Core

Bond

ETF

Description

Principal

Amount

($)

Value

($)

Asset-Backed

Securities

–

0.3%

Ally

Auto

Receivables

Trust,

Series

2019-2,

Class

A3,

2.23%,

1/16/2024

25,000

25,442

Carmax

Auto

Owner

Trust,

Series

2018-4,

Class

A3,

3.36%,

9/15/2023

48,545

49,663

Discover

Card

Execution

Note

Trust,

Series

2019-A1,

Class

A1,

3.04%,

7/15/2024

30,000

31,006

Hyundai

Auto

Receivables

Trust,

Series

2020-B,

Class

A3,

0.48%,

12/16/2024

10,000

9,994

Total

Asset-Backed

Securities

(cost

$115,744)

116,105

Commercial

Mortgage-Backed

Securities

–

1.3%

Bank

Trust

Series

2019-BN21,

Class

A5,

2.85%,

10/17/2052

50,000

54,320

Series

2019-BN18,

Class

A4,

3.58%,

5/15/2062

45,000

51,291

Barclays

Commercial

Mortgage

Trust,

Series

2019-C4,

Class

A5,

2.92%,

8/15/2052

25,000

27,210

COMM

Mortgage

Trust,

Series

2015-LC23,

Class

A4,

3.77%,

10/10/2048

50,000

55,609

CSAIL

Commercial

Mortgage

Trust,

Series

2018-

CX11,

Class

A4,

3.77%,

4/15/2051

50,000

56,609

GS

Mortgage

Securities

Trust

Series

2017-GS8,

Class

A3,

3.21%,

11/10/2050

80,000

87,982

Series

2017-GS8,

Class

A4,

3.47%,

11/10/2050

25,000

28,106

Morgan

Stanley

Bank

of

America

Merrill

Lynch

Trust,

Series

2014-C17,

Class

A5,

3.74%,

8/15/2047

35,000

37,967

UBS

Commercial

Mortgage

Trust,

Series

2018-

C8,

Class

A3,

3.72%,

2/15/2051

30,000

33,922

Wells

Fargo

Commercial

Mortgage

Trust,

Series

2016-NXS5,

Class

A5,

3.37%,

1/15/2059

50,000

54,777

WFRBS

Commercial

Mortgage

Trust

Series

2013-C14,

Class

A4,

3.07%,

6/15/2046

39,000

40,821

Series

2014-C24,

Class

A5,

3.61%,

11/15/2047

30,000

32,512

Series

2014-C22,

Class

A5,

3.75%,

9/15/2057

10,000

10,931

Total

Commercial

Mortgage-Backed

Securities

(cost

$562,621)

572,057

Corporate

Bonds

–

28.0%

Basic

Materials

–

0.8%

Air

Products

And

Chemicals,

Inc.

2.05%,

5/15/2030

10,000

10,445

2.80%,

5/15/2050

10,000

10,381

Dow

Chemical

Co.

(The),

4.38%,

11/15/2042

20,000

22,805

DuPont

de

Nemours,

Inc.,

4.49%,

11/15/2025

15,000

17,301

Ecolab,

Inc.

4.80%,

3/24/2030

5,000

6,342

1.30%,

1/30/2031

20,000

19,508

2.13%,

8/15/2050

10,000

8,975

Huntsman

International

LLC,

4.50%,

5/01/2029

10,000

11,205

Kinross

Gold

Corp.,

5.95%,

3/15/2024

12,000

13,613

LYB

International

Finance

III

LLC

3.38%,

10/01/2040

20,000

19,915

3.80%,

10/01/2060

10,000

9,661

LyondellBasell

Industries

NV,

4.63%,

2/26/2055

10,000

11,148

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Basic

Materials

–

0.8%

(continued)

Mosaic

Co.

(The)

4.25%,

11/15/2023

10,000

10,870

4.88%,

11/15/2041

10,000

10,563

Newmont

Corp.,

4.88%,

3/15/2042

15,000

19,893

Nucor

Corp.,

4.13%,

9/15/2022

25,000

26,452

Nutrien

Ltd.,

4.20%,

4/01/2029

20,000

23,562

Southern

Copper

Corp.

3.88%,

4/23/2025

10,000

11,057

5.88%,

4/23/2045

a

20,000

27,349

Vale

Overseas

Ltd.

6.25%,

8/10/2026

50,000

59,593

6.88%,

11/10/2039

5,000

6,811

357,449

Communications

–

2.8%

Alphabet,

Inc.

1.10%,

8/15/2030

10,000

9,780

2.25%,

8/15/2060

10,000

8,957

Amazon.com,

Inc.

2.50%,

11/29/2022

25,000

25,987

1.50%,

6/03/2030

10,000

10,111

4.05%,

8/22/2047

35,000

44,835

2.70%,

6/03/2060

10,000

10,159

America

Movil

SAB

de

CV,

2.88%,

5/07/2030

50,000

53,772

AT&T,

Inc.

3.40%,

5/15/2025

10,000

11,026

4.30%,

2/15/2030

25,000

29,159

3.50%,

6/01/2041

50,000

50,841

3.50%,

9/15/2053

b

24,000

22,839

Baidu,

Inc.

3.88%,

9/29/2023

20,000

21,459

4.13%,

6/30/2025

20,000

22,226

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4.50%,

2/01/2024

25,000

27,641

4.91%,

7/23/2025

10,000

11,512

4.80%,

3/01/2050

10,000

11,403

3.70%,

4/01/2051

15,000

14,595

Cisco

Systems,

Inc.,

2.95%,

2/28/2026

25,000

27,814

Comcast

Corp.

4.15%,

10/15/2028

25,000

29,740

4.60%,

10/15/2038

25,000

31,786

3.75%,

4/01/2040

40,000

46,679

2.80%,

1/15/2051

20,000

19,785

4.95%,

10/15/2058

15,000

21,610

Corning,

Inc.,

4.38%,

11/15/2057

35,000

40,885

Deutsche

Telekom

International

Finance

BV,

8.75%,

6/15/2030

10,000

15,520

Discovery

Communications

LLC

3.95%,

3/20/2028

25,000

28,123

4.00%,

9/15/2055

b

24,000

24,412

Fox

Corp.

4.71%,

1/25/2029

10,000

11,887

3.50%,

4/08/2030

10,000

11,179

Grupo

Televisa

Sab,

5.00%,

5/13/2045

45,000

50,559

Motorola

Solutions,

Inc.,

5.50%,

9/01/2044

37,000

43,599

Rogers

Communications,

Inc.,

2.90%,

11/15/2026

35,000

38,665

60

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Communications

–

2.8%

(continued)

TD

Ameritrade

Holding

Corp.

2.95%,

4/01/2022

10,000

10,322

2.75%,

10/01/2029

50,000

54,714

Telefonica

Emisiones

SA,

7.05%,

6/20/2036

20,000

28,826

Time

Warner

Cable

LLC,

7.30%,

7/01/2038

10,000

14,097

T-Mobile

USA,

Inc.

1.50%,

2/15/2026

b

20,000

20,099

3.75%,

4/15/2027

b

10,000

11,182

2.05%,

2/15/2028

b

30,000

30,445

3.88%,

4/15/2030

b

10,000

11,242

2.55%,

2/15/2031

a,b

45,000

45,857

4.50%,

4/15/2050

b

10,000

11,648

TWDC

Enterprises

18

Corp.

2.55%,

2/15/2022

10,000

10,278

4.13%,

6/01/2044

30,000

35,903

Verizon

Communications,

Inc.

2.63%,

8/15/2026

30,000

32,610

3.85%,

11/01/2042

20,000

23,497

2.99%,

10/30/2056

b

23,000

23,243

ViacomCBS

,

Inc.

4.38%,

3/15/2043

20,000

21,673

4.95%,

5/19/2050

10,000

11,739

Vodafone

Group

PLC

4.38%,

5/30/2028

25,000

29,536

5.25%,

5/30/2048

10,000

12,995

1,268,451

Consumer,

Cyclical

–

2.1%

American

Honda

Finance

Corp.

0.40%,

10/21/2022

20,000

20,032

1.20%,

7/08/2025

20,000

20,207

Aptiv

Corp.,

4.15%,

3/15/2024

15,000

16,493

AutoNation,

Inc.,

4.75%,

6/01/2030

25,000

29,331

AutoZone,

Inc.,

3.25%,

4/15/2025

15,000

16,394

Continental

Airlines

Pass-Through

Trust,

Series

2012-1,

Class

A,

4.15%,

4/11/2024

15,771

15,530

D.R.

Horton,

Inc.,

5.75%,

8/15/2023

30,000

33,707

Delta

Air

Lines

Pass

Through

Trust,

Series

2019-

1,

Class

AA,

3.20%,

4/25/2024

50,000

49,675

Dollar

General

Corp.,

3.50%,

4/03/2030

10,000

11,363

General

Motors

Co.,

6.60%,

4/01/2036

15,000

18,852

General

Motors

Financial

Co.,

Inc.

5.20%,

3/20/2023

50,000

54,290

3.70%,

5/09/2023

20,000

21,018

1.70%,

8/18/2023

10,000

10,089

4.35%,

1/17/2027

20,000

21,912

Hasbro,

Inc.,

2.60%,

11/19/2022

15,000

15,504

Home

Depot,

Inc.

(The),

3.50%,

9/15/2056

25,000

28,940

Hyatt

Hotels

Corp.,

4.38%,

9/15/2028

25,000

25,484

Jetblue

Pass-Through

Trust,

Series

2020-1,

Class

A,

4.00%,

11/15/2032

40,000

41,050

Las

Vegas

Sands

Corp.,

3.20%,

8/08/2024

15,000

15,173

Lowe's

Cos.,

Inc.

4.05%,

5/03/2047

10,000

11,930

3.00%,

10/15/2050

10,000

10,283

Magna

International,

Inc.,

2.45%,

6/15/2030

10,000

10,466

McDonald's

Corp.

2.63%,

9/01/2029

20,000

21,587

4.88%,

12/09/2045

15,000

19,537

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Consumer,

Cyclical

–

2.1%

(continued)

Mohawk

Industries,

Inc.,

3.63%,

5/15/2030

10,000

10,837

O'Reilly

Automotive,

Inc.,

1.75%,

3/15/2031

20,000

19,535

Southwest

Airlines

Co.

5.25%,

5/04/2025

20,000

22,191

2.63%,

2/10/2030

5,000

4,721

Starbucks

Corp.,

4.50%,

11/15/2048

10,000

12,353

Target

Corp.,

2.50%,

4/15/2026

75,000

82,139

Toyota

Motor

Credit

Corp.

2.60%,

1/11/2022

75,000

77,002

0.35%,

10/14/2022

20,000

20,013

1.15%,

8/13/2027

20,000

19,881

Walgreens

Boots

Alliance,

Inc.,

4.50%,

11/18/2034

30,000

33,645

Walmart,

Inc.

3.40%,

6/26/2023

50,000

53,912

3.25%,

7/08/2029

15,000

17,337

3.95%,

6/28/2038

10,000

12,492

4.05%,

6/29/2048

10,000

12,997

937,902

Consumer,

Non-cyclical

–

4.9%

Abbott

Laboratories

3.40%,

11/30/2023

20,000

21,690

4.90%,

11/30/2046

20,000

28,190

AbbVie,

Inc.

3.38%,

11/14/2021

25,000

25,745

3.20%,

11/21/2029

b

20,000

22,014

4.05%,

11/21/2039

b

10,000

11,480

4.40%,

11/06/2042

30,000

35,629

Advocate

Health

&

Hospitals

Corp.,

Series

2020,

2.21%,

6/15/2030

15,000

15,219

Aetna,

Inc.,

2.75%,

11/15/2022

10,000

10,390

Altria

Group,

Inc.

4.40%,

2/14/2026

10,000

11,495

5.80%,

2/14/2039

15,000

19,070

4.50%,

5/02/2043

15,000

16,391

4.45%,

5/06/2050

15,000

16,709

Amgen,

Inc.

3.88%,

11/15/2021

12,429

12,763

4.56%,

6/15/2048

20,000

25,260

2.77%,

9/01/2053

b

10,000

9,512

Anheuser-Busch

Cos.

LLC

/

Anheuser-Busch

InBev

Worldwide,

Inc.

3.65%,

2/01/2026

50,000

56,146

4.90%,

2/01/2046

15,000

18,392

Anheuser-Busch

InBev

Worldwide,

Inc.

3.50%,

6/01/2030

10,000

11,310

3.75%,

7/15/2042

20,000

21,455

5.80%,

1/23/2059

20,000

28,287

Anthem,

Inc.

2.25%,

5/15/2030

10,000

10,279

6.38%,

6/15/2037

10,000

14,381

4.38%,

12/01/2047

10,000

12,401

Ascension

Health,

3.95%,

11/15/2046

25,000

30,398

Banner

Health,

2.34%,

1/01/2030

25,000

25,700

BAT

Capital

Corp.

3.22%,

9/06/2026

10,000

10,769

4.39%,

8/15/2037

20,000

21,434

61

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Consumer,

Non-cyclical

–

4.9%

(continued)

BAT

International

Finance

PLC,

1.67%,

3/25/2026

30,000

30,111

Becton

Dickinson

And

Co.

3.73%,

12/15/2024

10,000

11,018

3.70%,

6/06/2027

10,000

11,317

3.79%,

5/20/2050

20,000

22,243

Boston

Scientific

Corp.

1.90%,

6/01/2025

10,000

10,403

2.65%,

6/01/2030

25,000

26,313

Bristol-Myers

Squibb

Co.

2.60%,

5/16/2022

40,000

41,382

3.90%,

2/20/2028

10,000

11,736

4.55%,

2/20/2048

15,000

19,848

Campbell

Soup

Co.

2.38%,

4/24/2030

19,000

19,598

3.13%,

4/24/2050

15,000

14,971

Cigna

Corp.

4.13%,

11/15/2025

30,000

34,374

4.50%,

2/25/2026

5,000

5,813

Clorox

Co.

(The),

3.50%,

12/15/2024

10,000

11,059

Coca-Cola

Co.

(The)

1.00%,

3/15/2028

20,000

19,829

2.50%,

3/15/2051

20,000

19,778

Colgate-Palmolive

Co.,

3.70%,

8/01/2047

20,000

26,065

CommonSpirit

Health,

3.35%,

10/01/2029

10,000

10,450

Community

Health

Network,

Inc.,

Series

20-A,

3.10%,

5/01/2050

15,000

13,696

Conagra

Brands,

Inc.,

3.20%,

1/25/2023

10,000

10,502

Constellation

Brands,

Inc.

4.65%,

11/15/2028

10,000

12,002

3.75%,

5/01/2050

15,000

16,611

CVS

Health

Corp.

3.00%,

8/15/2026

10,000

10,894

3.63%,

4/01/2027

10,000

11,205

1.30%,

8/21/2027

20,000

19,696

4.30%,

3/25/2028

10,000

11,598

3.75%,

4/01/2030

15,000

17,054

5.05%,

3/25/2048

40,000

50,767

Eli

Lilly

&

Co.,

3.95%,

3/15/2049

15,000

18,632

Emory

University,

Series

2020,

2.14%,

9/01/2030

15,000

15,434

Equifax,

Inc.,

2.60%,

12/15/2025

15,000

16,081

General

Mills,

Inc.

4.20%,

4/17/2028

25,000

29,334

2.88%,

4/15/2030

10,000

10,835

George

Washington

University

(The),

Series

2014,

4.30%,

9/15/2044

20,000

23,707

Georgetown

University

(The),

Series

B,

4.32%,

4/01/2049

20,000

23,752

Gilead

Sciences,

Inc.

3.50%,

2/01/2025

50,000

55,013

2.95%,

3/01/2027

25,000

27,287

1.65%,

10/01/2030

25,000

24,641

2.80%,

10/01/2050

25,000

23,872

GlaxoSmithKline

Capital,

Inc.,

6.38%,

5/15/2038

20,000

30,549

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Consumer,

Non-cyclical

–

4.9%

(continued)

HCA,

Inc.

5.00%,

3/15/2024

10,000

11,193

5.25%,

4/15/2025

10,000

11,582

5.25%,

6/15/2049

5,000

6,115

Humana,

Inc.,

3.85%,

10/01/2024

30,000

33,109

Johnson

&

Johnson

2.63%,

1/15/2025

25,000

27,096

0.55%,

9/01/2025

10,000

10,060

1.30%,

9/01/2030

25,000

24,928

Keurig

Dr

Pepper,

Inc.

4.06%,

5/25/2023

15,000

16,265

4.60%,

5/25/2028

20,000

23,908

3.80%,

5/01/2050

10,000

11,389

Kroger

Co.

(The),

3.40%,

4/15/2022

10,000

10,358

Laboratory

Corp.

of

America

Holdings,

3.60%,

2/01/2025

10,000

11,055

Massachusetts

Institute

of

Technology,

3.96%,

7/01/2038

25,000

30,669

McCormick

&

Co.,

Inc.,

3.15%,

8/15/2024

10,000

10,834

Merck

&

Co.,

Inc.

3.90%,

3/07/2039

10,000

12,295

4.15%,

5/18/2043

15,000

18,996

Mondelez

International,

Inc.,

2.13%,

4/13/2023

15,000

15,552

Mount

Sinai

Hospitals

Group,

Inc.

Series

2017,

3.98%,

7/01/2048

20,000

20,967

Series

2019,

3.74%,

7/01/2049

25,000

25,887

Mylan

NV,

3.95%,

6/15/2026

10,000

11,271

Mylan,

Inc.

4.20%,

11/29/2023

25,000

27,346

4.55%,

4/15/2028

10,000

11,618

New

York

And

Presbyterian

Hospital

(The),

Series

2019,

3.95%,

8/01/2119

10,000

10,929

Novartis

Capital

Corp.,

4.40%,

5/06/2044

20,000

26,718

Partners

Healthcare

System,

Inc.,

Series

2020,

3.19%,

7/01/2049

25,000

25,919

PepsiCo,

Inc.

3.50%,

3/19/2040

20,000

23,741

2.88%,

10/15/2049

20,000

21,353

Pfizer,

Inc.

4.00%,

12/15/2036

20,000

24,641

2.55%,

5/28/2040

25,000

25,721

Philip

Morris

International,

Inc.,

4.25%,

11/10/2044

15,000

17,930

Procter

&

Gamble

Co.

(The),

3.00%,

3/25/2030

20,000

22,985

S&P

Global,

Inc.,

1.25%,

8/15/2030

10,000

9,748

Shire

Acquisitions

Investments

Ireland

DAC,

3.20%,

9/23/2026

25,000

27,819

Stryker

Corp.,

3.38%,

11/01/2025

10,000

11,156

SYSCO

Corp.

4.85%,

10/01/2045

15,000

17,372

3.30%,

2/15/2050

20,000

18,971

Thermo

Fisher

Scientific,

Inc.

4.15%,

2/01/2024

10,000

11,020

2.95%,

9/19/2026

10,000

11,066

Trustees

of

The

University

of

Pennsylvania

(The),

3.61%,

2/15/2119

10,000

10,502

62

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Consumer,

Non-cyclical

–

4.9%

(continued)

UnitedHealth

Group,

Inc.

2.88%,

8/15/2029

25,000

27,733

4.45%,

12/15/2048

10,000

13,231

3.88%,

8/15/2059

15,000

18,289

Upjohn,

Inc.,

4.00%,

6/22/2050

b

10,000

10,590

William

Marsh

Rice

University,

3.57%,

5/15/2045

15,000

17,521

Zimmer

Biomet

Holdings,

Inc.

3.70%,

3/19/2023

10,000

10,681

3.05%,

1/15/2026

15,000

16,408

Zoetis,

Inc.,

3.90%,

8/20/2028

40,000

46,875

2,223,391

Energy

–

2.3%

Boardwalk

Pipelines

LP,

3.40%,

2/15/2031

15,000

14,425

BP

Capital

Markets

America,

Inc.

3.79%,

2/06/2024

10,000

10,907

3.59%,

4/14/2027

30,000

33,327

3.63%,

4/06/2030

10,000

11,310

BP

Capital

Markets

PLC,

3.51%,

3/17/2025

35,000

38,808

Canadian

Natural

Resources

Ltd.,

7.20%,

1/15/2032

15,000

18,990

Cheniere

Corpus

Christi

Holdings

LLC,

5.88%,

3/31/2025

10,000

11,330

Chevron

Corp.,

2.36%,

12/05/2022

25,000

25,921

Chevron

USA,

Inc.

0.43%,

8/11/2023

10,000

9,997

2.34%,

8/12/2050

15,000

13,696

Cimarex

Energy

Co.,

4.38%,

3/15/2029

10,000

10,768

CNOOC

Petroleum

North

America

Ulc

,

6.40%,

5/15/2037

20,000

29,167

ConocoPhillips

Co.,

4.95%,

3/15/2026

20,000

23,809

Diamondback

Energy,

Inc.,

3.25%,

12/01/2026

15,000

15,370

Ecopetrol

SA

5.88%,

9/18/2023

40,000

44,224

5.88%,

5/28/2045

10,000

10,883

Energy

Transfer

Operating

LP

3.75%,

5/15/2030

25,000

24,566

6.25%,

4/15/2049

20,000

21,132

Enterprise

Products

Operating

LLC

4.45%,

2/15/2043

25,000

26,894

3.95%,

1/31/2060

10,000

9,772

Equinor

ASA

2.65%,

1/15/2024

10,000

10,614

3.70%,

3/01/2024

15,000

16,479

3.25%,

11/10/2024

25,000

27,413

Exxon

Mobil

Corp.

2.73%,

3/01/2023

a

25,000

26,244

3.10%,

8/16/2049

10,000

10,004

4.33%,

3/19/2050

10,000

12,070

Halliburton

Co.,

3.50%,

8/01/2023

15,000

15,846

Hess

Corp.,

3.50%,

7/15/2024

10,000

10,272

HollyFrontier

Corp.

2.63%,

10/01/2023

50,000

49,536

4.50%,

10/01/2030

25,000

23,510

Kinder

Morgan

Energy

Partners

LP,

5.00%,

8/15/2042

25,000

26,716

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Energy

–

2.3%

(continued)

Kinder

Morgan,

Inc.

4.30%,

3/01/2028

25,000

28,289

3.25%,

8/01/2050

10,000

9,026

Marathon

Petroleum

Corp.

6.50%,

3/01/2041

10,000

11,675

4.50%,

4/01/2048

10,000

9,593

MPLX

LP

1.75%,

3/01/2026

15,000

14,946

4.90%,

4/15/2058

10,000

9,897

National

Oilwell

Varco,

Inc.,

3.60%,

12/01/2029

10,000

9,494

ONEOK

Partners

LP,

6.20%,

9/15/2043

15,000

15,994

ONEOK,

Inc.,

4.35%,

3/15/2029

25,000

26,105

Phillips

66

3.90%,

3/15/2028

a

20,000

21,914

2.15%,

12/15/2030

5,000

4,694

Sabine

Pass

Liquefaction

LLC,

5.00%,

3/15/2027

15,000

16,837

Shell

International

Finance

BV

4.38%,

5/11/2045

10,000

12,047

3.75%,

9/12/2046

35,000

38,586

3.13%,

11/07/2049

10,000

10,108

Spectra

Energy

Partners

LP,

4.50%,

3/15/2045

20,000

21,956

Texas

Eastern

Transmission

LP,

7.00%,

7/15/2032

25,000

33,798

Total

Capital

International

SA

2.43%,

1/10/2025

10,000

10,610

3.46%,

2/19/2029

10,000

11,365

TransCanada

PipeLines

Ltd.,

4.88%,

1/15/2026

25,000

29,297

Transcontinental

Gas

Pipe

Line

Co.

LLC,

3.25%,

5/15/2030

b

15,000

16,085

Valero

Energy

Corp.,

4.00%,

4/01/2029

20,000

20,903

Williams

Cos.,

Inc.

(The)

6.30%,

4/15/2040

20,000

24,255

5.75%,

6/24/2044

15,000

17,334

1,058,808

Financial

–

8.6%

Air

Lease

Corp.,

3.00%,

2/01/2030

25,000

23,380

Aircastle

Ltd.,

5.00%,

4/01/2023

15,000

15,294

Alleghany

Corp.,

3.63%,

5/15/2030

50,000

55,964

Ally

Financial,

Inc.

3.88%,

5/21/2024

25,000

26,864

8.00%,

11/01/2031

60,000

81,861

American

Express

Co.,

3.40%,

2/22/2024

50,000

54,209

American

International

Group,

Inc.,

4.50%,

7/16/2044

20,000

23,968

American

Tower

Corp.

3.50%,

1/31/2023

50,000

53,112

3.70%,

10/15/2049

20,000

21,600

3.10%,

6/15/2050

20,000

19,582

Ameriprise

Financial,

Inc.,

3.00%,

4/02/2025

10,000

10,846

AON

Corp.,

2.80%,

5/15/2030

25,000

26,829

Ares

Capital

Corp.,

3.88%,

1/15/2026

10,000

10,247

AvalonBay

Communities,

Inc.,

2.45%,

1/15/2031

20,000

21,167

Axis

Specialty

Finance

LLC,

3.90%,

7/15/2029

15,000

16,334

Bancolombia

SA,

3.00%,

1/29/2025

20,000

20,253

Bancorpsouth

Bank,

4.13%,

11/20/2029

50,000

50,422

63

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Financial

–

8.6%

(continued)

Bank

of

America

Corp.

Series

G,

3.30%,

1/11/2023

17,000

18,026

4.13%,

1/22/2024

25,000

27,634

4.00%,

1/22/2025

20,000

22,238

3.37%,

1/23/2026

50,000

54,541

2.02%,

2/13/2026

10,000

10,355

1.32%,

6/19/2026

10,000

10,061

1.20%,

10/24/2026

10,000

10,018

3.56%,

4/23/2027

20,000

22,284

Series

L,

4.18%,

11/25/2027

20,000

22,886

2.59%,

4/29/2031

15,000

15,700

1.90%,

7/23/2031

5,000

4,957

1.92%,

10/24/2031

10,000

9,927

4.08%,

4/23/2040

15,000

17,952

2.68%,

6/19/2041

10,000

10,089

4.33%,

3/15/2050

30,000

38,029

Bank

of

Montreal,

4.34%,

10/05/2028

40,000

43,227

Bank

of

Nova

Scotia

(The)

2.70%,

3/07/2022

50,000

51,593

4.50%,

12/16/2025

20,000

23,078

Berkshire

Hathaway

Finance

Corp.,

4.20%,

8/15/2048

10,000

12,543

Berkshire

Hathaway,

Inc.,

2.75%,

3/15/2023

25,000

26,289

Boston

Properties

LP,

4.50%,

12/01/2028

75,000

87,959

Brighthouse

Financial,

Inc.,

5.63%,

5/15/2030

20,000

23,615

Brixmor

Operating

Partnership

LP,

3.85%,

2/01/2025

10,000

10,714

Brookfield

Finance

LLC,

3.45%,

4/15/2050

10,000

9,791

Canadian

Imperial

Bank

of

Commerce,

3.10%,

4/02/2024

50,000

53,907

Capital

One

Financial

Corp.

3.90%,

1/29/2024

25,000

27,282

3.20%,

2/05/2025

20,000

21,591

Chubb

INA

Holdings,

Inc.,

3.35%,

5/03/2026

15,000

16,921

Citigroup,

Inc.

4.05%,

7/30/2022

15,000

15,889

3.14%,

1/24/2023

20,000

20,609

3.50%,

5/15/2023

10,000

10,707

4.04%,

6/01/2024

10,000

10,838

3.11%,

4/08/2026

15,000

16,196

4.45%,

9/29/2027

15,000

17,317

3.98%,

3/20/2030

20,000

22,942

4.41%,

3/31/2031

15,000

17,808

4.75%,

5/18/2046

15,000

18,806

4.65%,

7/23/2048

30,000

38,917

Credit

Suisse

AG/New

York

NY,

1.00%,

5/05/2023

20,000

20,247

Crown

Castle

International

Corp.

5.20%,

2/15/2049

15,000

19,403

4.15%,

7/01/2050

15,000

17,207

Deutsche

Bank

AG,

4.10%,

1/13/2026

15,000

16,121

Deutsche

Bank

AG/NY,

4.10%,

1/13/2026

25,000

26,967

ERP

Operating

LP,

3.00%,

7/01/2029

20,000

21,870

Fidelity

National

Financial,

Inc.,

3.40%,

6/15/2030

25,000

26,694

Fifth

Third

Bancorp,

3.65%,

1/25/2024

25,000

27,229

FS

KKR

Capital

Corp.,

4.13%,

2/01/2025

10,000

9,925

GLP

Capital

LP

/

GLP

Financing

II,

Inc.

5.25%,

6/01/2025

20,000

21,902

5.38%,

4/15/2026

15,000

16,677

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Financial

–

8.6%

(continued)

Goldman

Sachs

Group,

Inc.

(The)

3.50%,

4/01/2025

15,000

16,542

4.25%,

10/21/2025

20,000

22,710

3.85%,

1/26/2027

75,000

84,335

4.22%,

5/01/2029

20,000

23,327

6.75%,

10/01/2037

20,000

29,246

Healthpeak

Properties,

Inc.,

4.20%,

3/01/2024

10,000

10,969

Intercontinental

Exchange,

Inc.

3.75%,

12/01/2025

50,000

56,683

2.65%,

9/15/2040

30,000

30,172

4.25%,

9/21/2048

10,000

12,320

International

Lease

Finance

Corp.,

5.88%,

8/15/2022

35,000

37,323

Jefferies

Financial

Group,

Inc.,

5.50%,

10/18/2023

25,000

27,479

JPMorgan

Chase

&

Co.

3.20%,

1/25/2023

25,000

26,557

3.63%,

5/13/2024

20,000

22,035

2.08%,

4/22/2026

15,000

15,680

2.74%,

10/15/2030

35,000

37,438

4.49%,

3/24/2031

30,000

36,361

5.50%,

10/15/2040

100,000

143,075

Kimco

Realty

Corp.,

3.30%,

2/01/2025

10,000

10,830

Kite

Realty

Group

LP,

4.00%,

10/01/2026

15,000

14,561

Korea

Development

Bank

(The),

2.13%,

10/01/2024

15,000

15,731

Kreditanstalt

Fuer

Wiederaufbau

3.13%,

12/15/2021

60,000

61,948

0.25%,

10/19/2023

25,000

24,974

2.63%,

2/28/2024

50,000

53,814

0.38%,

7/18/2025

5,000

4,974

Landwirtschaftliche

Rentenbank

,

2.38%,

6/10/2025

40,000

43,367

Lincoln

National

Corp.,

3.05%,

1/15/2030

25,000

26,830

Marsh

&

McLennan

Cos.,

Inc.,

4.75%,

3/15/2039

25,000

32,749

Mastercard

,

Inc.

3.30%,

3/26/2027

15,000

17,008

3.85%,

3/26/2050

10,000

12,489

MetLife,

Inc.,

4.05%,

3/01/2045

15,000

18,146

Mitsubishi

UFJ

Financial

Group,

Inc.,

3.96%,

3/02/2028

25,000

28,775

Morgan

Stanley

4.00%,

7/23/2025

25,000

28,421

3.13%,

7/27/2026

50,000

55,291

3.95%,

4/23/2027

25,000

28,232

4.43%,

1/23/2030

25,000

29,951

4.38%,

1/22/2047

25,000

32,821

Natwest

Group

PLC,

6.00%,

12/19/2023

25,000

28,055

Navient

Solutions

LLC,

10/03/2022

c

30,000

29,544

Northern

Trust

Corp.,

3.15%,

5/03/2029

25,000

28,143

Office

Properties

Income

Trust,

4.50%,

2/01/2025

10,000

10,150

OMEGA

Healthcare

Investors,

Inc.,

4.50%,

4/01/2027

15,000

16,250

Owl

Rock

Capital

Corp.,

3.75%,

7/22/2025

10,000

9,967

PNC

Financial

Services

Group,

Inc.

(The)

2.20%,

11/01/2024

10,000

10,583

2.60%,

7/23/2026

30,000

32,638

Progressive

Corp.

(The),

4.00%,

3/01/2029

10,000

11,948

64

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Financial

–

8.6%

(continued)

Prudential

Financial,

Inc.

5.88%,

9/15/2042

15,000

15,859

5.38%,

5/15/2045

50,000

53,898

3.94%,

12/07/2049

10,000

11,336

4.35%,

2/25/2050

15,000

18,056

Raymond

James

Financial,

Inc.,

4.65%,

4/01/2030

10,000

12,078

Regions

Financial

Corp.,

2.75%,

8/14/2022

27,000

28,044

Retail

Properties

of

America,

Inc.,

4.75%,

9/15/2030

10,000

9,897

Royal

Bank

of

Canada,

2.75%,

2/01/2022

25,000

25,753

Simon

Property

Group

LP,

4.75%,

3/15/2042

20,000

22,511

Spirit

Realty

LP

4.00%,

7/15/2029

15,000

15,751

3.20%,

2/15/2031

10,000

10,005

Sumitomo

Mitsui

Financial

Group,

Inc.,

2.85%,

1/11/2022

50,000

51,414

Synchrony

Financial

4.25%,

8/15/2024

10,000

10,932

3.70%,

8/04/2026

15,000

16,178

5.15%,

3/19/2029

50,000

58,793

Toronto-Dominion

Bank

(The),

3.25%,

3/11/2024

25,000

27,099

Travelers

Property

Casualty

Corp.,

6.38%,

3/15/2033

15,000

22,322

Truist

Bank,

3.00%,

2/02/2023

50,000

52,699

Truist

Financial

Corp.

3.75%,

12/06/2023

50,000

54,717

2.50%,

8/01/2024

10,000

10,646

3.88%,

3/19/2029

10,000

11,536

Unum

Group,

4.50%,

12/15/2049

10,000

9,832

US

Bancorp

3.60%,

9/11/2024

10,000

11,048

1.45%,

5/12/2025

35,000

36,102

Ventas

Realty

LP

3.00%,

1/15/2030

15,000

15,357

4.88%,

4/15/2049

10,000

11,148

Visa,

Inc.,

3.15%,

12/14/2025

25,000

27,815

Wells

Fargo

&

Co.

Series

M,

3.45%,

2/13/2023

20,000

21,215

3.75%,

1/24/2024

10,000

10,862

3.55%,

9/29/2025

25,000

27,824

2.19%,

4/30/2026

15,000

15,611

3.00%,

10/23/2026

10,000

10,947

4.15%,

1/24/2029

20,000

23,300

Series

B,

7.95%,

11/15/2029

15,000

19,989

3.07%,

4/30/2041

65,000

67,415

4.75%,

12/07/2046

20,000

24,620

Welltower

,

Inc.,

3.63%,

3/15/2024

10,000

10,845

Western

Union

Co.

(The),

2.85%,

1/10/2025

15,000

15,841

Willis

North

America,

Inc.,

5.05%,

9/15/2048

10,000

13,478

3,912,625

Industrial

–

2.3%

3M

Co.,

2.88%,

10/15/2027

75,000

83,040

Amphenol

Corp.,

2.80%,

2/15/2030

20,000

21,859

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Industrial

–

2.3%

(continued)

Boeing

Co.

(The)

4.88%,

5/01/2025

10,000

10,877

2.95%,

2/01/2030

10,000

9,424

5.15%,

5/01/2030

10,000

11,117

6.13%,

2/15/2033

10,000

11,865

3.60%,

5/01/2034

25,000

23,916

6.63%,

2/15/2038

25,000

30,210

5.81%,

5/01/2050

10,000

11,751

3.83%,

3/01/2059

10,000

8,731

Burlington

Northern

Santa

Fe

LLC

7.00%,

12/15/2025

20,000

25,999

4.90%,

4/01/2044

15,000

20,214

Caterpillar

Financial

Services

Corp.

3.30%,

6/09/2024

10,000

10,918

1.45%,

5/15/2025

20,000

20,608

CSX

Corp.

3.35%,

11/01/2025

25,000

27,900

4.75%,

11/15/2048

13,000

17,050

Deere

&

Co.

2.75%,

4/15/2025

10,000

10,861

3.90%,

6/09/2042

25,000

31,344

FedEx

Corp.

4.25%,

5/15/2030

10,000

12,019

4.75%,

11/15/2045

15,000

18,673

4.40%,

1/15/2047

10,000

11,893

FLIR

Systems,

Inc.,

2.50%,

8/01/2030

25,000

25,651

GATX

Corp.,

4.70%,

4/01/2029

30,000

35,973

General

Dynamics

Corp.

3.50%,

4/01/2027

10,000

11,427

4.25%,

4/01/2040

10,000

12,640

General

Electric

Co.

Series

G,

3.15%,

9/07/2022

10,000

10,434

3.38%,

3/11/2024

25,000

26,869

3.45%,

5/01/2027

10,000

10,594

Jabil,

Inc.,

3.95%,

1/12/2028

10,000

10,928

John

Deere

Capital

Corp.,

3.45%,

1/10/2024

10,000

10,887

Keysight

Technologies,

Inc.,

3.00%,

10/30/2029

10,000

10,816

Lockheed

Martin

Corp.,

3.10%,

1/15/2023

10,000

10,550

Norfolk

Southern

Corp.,

3.00%,

4/01/2022

15,000

15,455

Northrop

Grumman

Corp.,

5.05%,

11/15/2040

20,000

26,579

Parker-Hannifin

Corp.

2.70%,

6/14/2024

50,000

53,365

3.25%,

6/14/2029

50,000

56,073

Raytheon

Technologies

Corp.

7.20%,

8/15/2027

b

25,000

33,687

4.63%,

11/16/2048

25,000

32,618

3.13%,

7/01/2050

25,000

26,357

Roper

Technologies,

Inc.,

1.00%,

9/15/2025

20,000

20,113

Ryder

System,

Inc.

2.88%,

6/01/2022

15,000

15,510

2.50%,

9/01/2022

15,000

15,494

Textron,

Inc.,

4.30%,

3/01/2024

25,000

27,339

Union

Pacific

Corp.

4.50%,

9/10/2048

10,000

13,099

4.10%,

9/15/2067

25,000

28,902

United

Parcel

Service,

Inc.

3.05%,

11/15/2027

25,000

27,921

5.30%,

4/01/2050

20,000

29,106

65

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Industrial

–

2.3%

(continued)

Waste

Management,

Inc.

2.40%,

5/15/2023

10,000

10,425

4.15%,

7/15/2049

15,000

18,926

1,058,007

Technology

–

1.8%

Activision

Blizzard,

Inc.,

3.40%,

9/15/2026

10,000

11,306

Analog

Devices,

Inc.,

2.95%,

4/01/2025

10,000

10,859

Apple,

Inc.

2.15%,

2/09/2022

25,000

25,595

1.80%,

9/11/2024

10,000

10,449

0.55%,

8/20/2025

10,000

9,970

3.25%,

2/23/2026

50,000

55,898

1.25%,

8/20/2030

10,000

9,872

4.65%,

2/23/2046

25,000

34,108

2.55%,

8/20/2060

10,000

9,698

Applied

Materials,

Inc.,

5.10%,

10/01/2035

30,000

40,836

Autodesk,

Inc.,

2.85%,

1/15/2030

10,000

11,001

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.

3.00%,

1/15/2022

30,000

30,820

2.65%,

1/15/2023

30,000

31,205

3.63%,

1/15/2024

10,000

10,750

Broadcom,

Inc.

2.25%,

11/15/2023

12,000

12,482

4.70%,

4/15/2025

10,000

11,364

Broadridge

Financial

Solutions,

Inc.,

3.40%,

6/27/2026

10,000

11,090

Dell

International

LLC

/

EMC

Corp.,

4.90%,

10/01/2026

b

50,000

56,937

Hewlett

Packard

Enterprise

Co.,

1.45%,

4/01/2024

10,000

10,189

Intel

Corp.

3.15%,

5/11/2027

30,000

33,557

3.10%,

2/15/2060

20,000

21,264

International

Business

Machines

Corp.,

4.00%,

6/20/2042

25,000

29,626

Micron

Technology,

Inc.,

2.50%,

4/24/2023

15,000

15,612

Microsoft

Corp.

2.88%,

2/06/2024

30,000

32,175

4.25%,

2/06/2047

40,000

53,922

NetApp,

Inc.,

1.88%,

6/22/2025

10,000

10,339

NVIDIA

Corp.,

3.50%,

4/01/2040

20,000

23,183

NXP

BV

/

NXP

Funding

LLC

/

NXP

USA,

Inc.

3.88%,

6/18/2026

b

10,000

11,274

3.15%,

5/01/2027

b

10,000

10,829

Oracle

Corp.

2.50%,

5/15/2022

25,000

25,740

2.65%,

7/15/2026

10,000

10,885

2.95%,

4/01/2030

22,000

24,264

4.00%,

11/15/2047

30,000

34,835

QUALCOMM,

Inc.,

2.60%,

1/30/2023

10,000

10,476

Seagate

HDD

Cayman,

4.13%,

1/15/2031

b

30,000

32,491

Texas

Instruments,

Inc.,

2.25%,

9/04/2029

13,000

13,863

798,764

Utilities

–

2.4%

American

Water

Capital

Corp.,

3.75%,

9/01/2028

40,000

46,371

Arizona

Public

Service

Co.,

3.35%,

5/15/2050

10,000

11,093

Atmos

Energy

Corp.,

1.50%,

1/15/2031

25,000

24,843

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Utilities

–

2.4%

(continued)

Berkshire

Hathaway

Energy

Co.,

4.05%,

4/15/2025

b

10,000

11,366

Black

Hills

Corp.,

3.88%,

10/15/2049

10,000

11,029

Commonwealth

Edison

Co.

4.00%,

3/01/2048

20,000

24,348

4.00%,

3/01/2049

20,000

24,523

Consolidated

Edison

Co.

of

New

York,

Inc.,

4.63%,

12/01/2054

30,000

39,360

Duke

Energy

Carolinas

LLC,

4.25%,

12/15/2041

30,000

36,884

Duke

Energy

Corp.,

3.75%,

9/01/2046

20,000

22,619

Edison

International,

4.13%,

3/15/2028

10,000

10,476

El

Paso

Electric

Co.,

6.00%,

5/15/2035

33,000

43,647

Emera

US

Finance

LP,

3.55%,

6/15/2026

10,000

11,117

Enel

Generacion

Chile

SA,

4.25%,

4/15/2024

25,000

26,892

Essential

Utilities,

Inc.,

3.35%,

4/15/2050

15,000

15,835

FirstEnergy

Corp.,

Series

C,

3.40%,

3/01/2050

15,000

13,773

Florida

Power

&

Light

Co.,

2.85%,

4/01/2025

25,000

27,216

Hydro-Quebec,

Series

HH,

8.50%,

12/01/2029

25,000

39,754

Interstate

Power

And

Light

Co.,

2.30%,

6/01/2030

15,000

15,741

ITC

Holdings

Corp.,

3.35%,

11/15/2027

50,000

55,216

MidAmerican

Energy

Co.,

4.25%,

7/15/2049

30,000

38,476

National

Rural

Utilities

Cooperative

Finance

Corp.,

4.30%,

3/15/2049

15,000

19,194

NiSource,

Inc.

0.95%,

8/15/2025

15,000

14,972

5.25%,

2/15/2043

10,000

13,047

Pacific

Gas

And

Electric

Co.

3.15%,

1/01/2026

10,000

10,237

2.10%,

8/01/2027

10,000

9,734

4.55%,

7/01/2030

5,000

5,386

4.50%,

7/01/2040

a

5,000

5,141

3.30%,

8/01/2040

a

30,000

27,593

4.95%,

7/01/2050

5,000

5,294

Public

Service

Co.

of

Colorado

Series

17,

6.25%,

9/01/2037

10,000

14,858

Series

34,

3.20%,

3/01/2050

20,000

22,118

Public

Service

Enterprise

Group,

Inc.

0.80%,

8/15/2025

10,000

9,968

1.60%,

8/15/2030

10,000

9,741

San

Diego

Gas

&

Electric

Co.,

Series

TTT,

4.10%,

6/15/2049

50,000

59,720

Sempra

Energy

3.55%,

6/15/2024

15,000

16,290

3.80%,

2/01/2038

15,000

16,854

Southern

California

Edison

Co.

2.25%,

6/01/2030

a

25,000

25,141

4.50%,

9/01/2040

25,000

28,196

Southern

California

Gas

Co.

3.75%,

9/15/2042

10,000

11,366

Series

VV,

4.30%,

1/15/2049

15,000

18,949

Series

WW,

3.95%,

2/15/2050

15,000

18,080

Southern

Co.

(The),

Series

A,

3.70%,

4/30/2030

10,000

11,342

Southwest

Gas

Corp.,

2.20%,

6/15/2030

15,000

15,598

Virginia

Electric

and

Power

Co.

Series

A,

3.80%,

4/01/2028

50,000

58,694

Series

B,

3.80%,

9/15/2047

20,000

24,092

66

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

28.0%

(continued)

Utilities

–

2.4%

(continued)

Xcel

Energy,

Inc.

0.50%,

10/15/2023

30,000

29,974

2.60%,

12/01/2029

10,000

10,710

1,062,868

Total

Corporate

Bonds

(cost

$12,508,203)

12,678,265

Foreign

Governmental

–

2.0%

Chile

Government

International

Bond,

2.45%,

1/31/2031

20,000

20,782

Colombia

Government

International

Bond,

8.13%,

5/21/2024

50,000

60,426

Mexico

Government

International

Bond

3.63%,

3/15/2022

16,000

16,619

8.30%,

8/15/2031

25,000

36,149

6.05%,

1/11/2040

40,000

50,375

Panama

Government

International

Bond,

6.70%,

1/26/2036

20,000

28,861

Peruvian

Government

International

Bond,

8.75%,

11/21/2033

20,000

33,718

Philippine

Government

International

Bond,

9.50%,

2/02/2030

25,000

40,953

Province

of

Alberta

Canada

2.20%,

7/26/2022

25,000

25,797

3.30%,

3/15/2028

75,000

86,384

Province

of

British

Columbia

Canada

2.00%,

10/23/2022

40,000

41,346

Series

10,

1.75%,

9/27/2024

20,000

21,037

Province

of

Manitoba

Canada,

2.13%,

6/22/2026

25,000

26,792

Province

of

Ontario

Canada

2.55%,

4/25/2022

40,000

41,316

3.20%,

5/16/2024

80,000

87,582

2.50%,

4/27/2026

25,000

27,276

1.05%,

5/21/2027

25,000

25,151

Province

of

Quebec

Canada

2.38%,

1/31/2022

25,000

25,644

2.75%,

4/12/2027

25,000

27,842

Republic

of

Italy

Government

International

Bond

6.88%,

9/27/2023

40,000

46,556

4.00%,

10/17/2049

20,000

21,506

Republic

of

Poland

Government

International

Bond,

3.00%,

3/17/2023

50,000

53,025

Svensk

Exportkredit

AB,

5/11/2037

c

30,000

20,343

Uruguay

Government

International

Bond

8.00%,

11/18/2022

30,000

32,299

4.98%,

4/20/2055

20,000

26,472

Total

Foreign

Governmental

(cost

$897,227)

924,251

Municipal

Securities

–

0.3%

New

Jersey

Turnpike

Authority,

RB,

7.10%,

1/01/2041

20,000

32,155

North

Texas

Tollway

Authority,

RB,

6.72%,

1/01/2049

15,000

25,386

Ohio

State

University

(The),

RB,

4.80%,

6/01/2111

10,000

13,838

State

of

California,

GO,

7.60%,

11/01/2040

15,000

26,475

State

of

Illinois

Sales

Tax

Securitization

Corp.,

RB,

3.59%,

1/01/2043

30,000

30,503

State

of

Illinois,

GO,

5.10%,

6/01/2033

20,000

20,061

Total

Municipal

Securities

(cost

$148,808)

148,418

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Supranational

Bank

–

1.1%

Asian

Development

Bank

Series

G,

2.75%,

3/17/2023

50,000

52,924

2.75%,

1/19/2028

50,000

56,799

European

Bank

For

Reconstruction

&

Development,

Series

G,

0.25%,

7/10/2023

70,000

69,940

European

Investment

Bank

2.25%,

3/15/2022

80,000

82,225

1.88%,

2/10/2025

50,000

53,040

0.38%,

12/15/2025

5,000

4,965

Export

Development

Canada,

1.38%,

2/24/2023

50,000

51,267

Inter-American

Development

Bank

2.50%,

1/18/2023

75,000

78,678

Series

G,

2.00%,

6/02/2026

15,000

16,128

International

Bank

For

Reconstruction

&

Development,

Series

GDIF,

2.50%,

11/25/2024

20,000

21,699

Japan

Bank

For

International

Cooperation,

2.38%,

11/16/2022

20,000

20,810

Total

Supranational

Bank

(cost

$508,742)

508,475

U.S.

Government

Agencies

Mortgage-Backed

–

30.0%

Federal

Home

Loan

Banks

2.00%,

9/09/2022

20,000

20,665

2.50%,

2/13/2024

175,000

187,744

3.25%,

11/16/2028

15,000

17,806

Federal

Home

Loan

Mortgage

Corporation

2.38%,

1/13/2022

d

50,000

51,323

0.38%,

4/20/2023

d

30,000

30,129

0.25%,

8/24/2023

d

30,000

29,999

0.25%,

9/08/2023

d

25,000

25,004

1.50%,

2/12/2025

d

30,000

31,371

2.50%,

9/01/2027

d

30,349

31,596

3.00%,

2/01/2031

d

54,859

57,850

6.25%,

7/15/2032

d

10,000

15,461

3.00%,

1/01/2033

d

13,239

13,931

2.50%,

11/01/2034

d

48,071

49,976

3.50%,

3/01/2035

d

16,137

17,336

3.00%,

4/01/2035

d

90,271

95,300

3.00%,

3/01/2040

d

125,287

130,927

2.50%,

4/01/2040

d

20,702

21,624

2.50%,

10/01/2040

d

24,915

26,025

4.00%,

11/01/2040

d

107,740

119,100

3.00%,

12/01/2042

d

34,587

36,930

3.50%,

2/01/2043

d

110,213

119,708

3.00%,

4/01/2043

d

110,322

117,598

3.00%,

5/01/2045

d

22,326

23,586

3.50%,

7/01/2045

d

26,611

28,611

4.50%,

10/01/2045

d

120,952

134,782

3.50%,

12/01/2045

d

18,808

20,221

3.00%,

12/01/2046

d

19,823

20,894

3.00%,

1/01/2047

d

78,277

82,504

4.00%,

8/01/2047

d

118,442

127,255

3.50%,

6/01/2048

d

169,136

179,057

4.00%,

10/01/2048

d

71,884

76,832

3.00%,

9/01/2049

d

78,864

82,409

3.00%,

10/01/2049

d

84,975

88,795

2.50%,

1/01/2050

d

82,278

85,635

4.50%,

2/01/2050

d

68,493

74,125

3.00%,

3/01/2050

d

65,273

68,207

3.50%,

4/01/2050

d

130,127

138,200

2.50%,

6/01/2050

d

122,372

127,729

67

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

Mortgage-Backed

–

30.0%

(continued)

Federal

Home

Loan

Mortgage

Corporation

(continued)

2.00%,

7/01/2050

d

24,324

25,113

2.50%,

8/01/2050

d

24,542

25,616

2.50%,

10/01/2050

d

74,921

78,200

Federal

Home

Loan

Mortgage

Corporation

Mutifamilty

Structured

Pass-Through

Ctfs

.

Series

2019-K736,

Class

A2,

2.28%,

7/25/2026

d

50,000

53,834

Series

2017-K064,

Class

A2,

3.22%,

3/25/2027

d

20,000

22,554

Series

2018-K077,

Class

A2,

3.85%,

5/25/2028

d

50,000

59,024

Series

2019-K087,

Class

A2,

3.77%,

12/25/2028

d

30,000

35,415

Series

2016-K152,

Class

A1,

2.83%,

5/25/2030

d

42,784

47,362

Series

2019-1513,

Class

A3,

2.80%,

8/25/2034

d

20,000

22,287

Federal

National

Mortgage

Association

2.25%,

4/12/2022

d

100,000

103,022

2.38%,

1/19/2023

d

20,000

20,959

1.75%,

7/02/2024

d

25,000

26,328

1.63%,

1/07/2025

d

50,000

52,501

0.63%,

4/22/2025

d

30,000

30,246

0.38%,

8/25/2025

d

30,000

29,811

1.88%,

9/24/2026

d

25,000

26,855

3.00%,

12/01/2026

d

26,605

27,878

3.00%,

12/01/2026

d

24,812

26,000

3.00%,

2/01/2028

d

38,666

40,589

2.50%,

6/01/2028

d

76,259

79,406

0.88%,

8/05/2030

d

25,000

24,335

2.00%,

10/01/2030

d

21,194

22,094

3.00%,

8/01/2031

d

35,941

37,901

2.00%,

11/01/2031

d

54,855

57,182

3.50%,

11/01/2031

d

38,804

41,491

2.50%,

1/01/2032

d

126,419

132,120

3.50%,

1/01/2032

d

28,870

30,920

3.00%,

2/01/2032

d

36,992

39,008

3.50%,

4/01/2032

d

41,930

44,436

2.50%,

1/01/2033

d

45,026

46,880

3.50%,

5/01/2033

d

12,692

13,416

2.50%,

7/01/2033

d

48,444

50,629

4.00%,

4/01/2034

d

31,574

33,636

3.50%,

3/01/2035

d

23,385

24,719

2.00%,

7/01/2035

d

48,249

50,071

2.50%,

8/01/2035

d

24,546

25,604

2.00%,

10/01/2035

d

25,000

25,944

5.50%,

10/01/2035

d

22,958

26,723

1.50%,

11/15/2035

d,e

25,000

25,525

2.00%,

11/15/2035

d,e

75,000

77,794

2.50%,

11/15/2035

d,e

25,000

25,985

2.00%,

12/15/2035

d,e

25,000

25,898

2.50%,

12/15/2035

d,e

25,000

25,992

3.50%,

1/01/2037

d

33,577

35,866

4.50%,

6/01/2039

d

44,305

49,814

4.00%,

11/01/2039

d

43,444

46,546

6.00%,

4/01/2040

d

54,302

63,888

2.50%,

5/01/2040

d

22,670

23,680

2.00%,

8/01/2040

d

54,064

55,891

4.00%,

10/01/2040

d

141,102

155,980

4.50%,

2/01/2041

d

59,356

66,574

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

Mortgage-Backed

–

30.0%

(continued)

Federal

National

Mortgage

Association

(continued)

5.50%,

7/01/2041

d

27,209

31,621

3.50%,

12/01/2041

d

40,106

43,578

3.00%,

4/01/2042

d

31,445

33,563

3.50%,

4/01/2042

d

52,329

56,837

5.00%,

4/01/2042

d

82,967

94,572

3.50%,

6/01/2042

d

31,613

34,337

4.00%,

7/01/2042

d

43,601

48,154

2.50%,

10/01/2042

d

101,768

107,954

3.00%,

4/01/2043

d

51,541

54,940

4.00%,

11/01/2044

d

52,406

57,485

3.00%,

4/01/2045

d

96,699

103,077

3.50%,

4/01/2045

d

27,032

29,063

3.50%,

5/01/2045

d

43,137

46,378

3.50%,

11/01/2045

d

71,467

76,837

3.50%,

1/01/2046

d

72,147

77,568

4.00%,

1/01/2046

d

170,501

186,000

3.50%,

2/01/2046

d

89,303

94,890

4.50%,

6/01/2046

d

56,210

62,643

3.00%,

9/01/2046

d

117,293

123,627

3.00%,

11/01/2046

d

26,660

28,100

3.00%,

11/01/2046

d

115,138

121,354

3.00%,

11/01/2046

d

80,650

85,005

3.50%,

12/01/2046

d

124,107

131,872

3.50%,

4/01/2047

d

30,344

32,182

4.00%,

5/01/2047

d

83,580

89,786

4.50%,

5/01/2047

d

25,663

28,690

3.50%,

10/01/2047

d

68,036

72,158

3.50%,

12/01/2047

d

103,242

109,497

3.50%,

2/01/2048

d

92,163

97,746

4.50%,

4/01/2048

d

30,923

33,444

4.50%,

8/01/2048

d

68,170

73,727

4.50%,

11/01/2048

d

23,829

25,772

4.00%,

5/01/2049

d

187,907

200,841

4.50%,

5/01/2049

d

24,529

26,546

5.00%,

7/01/2049

d

28,258

31,026

3.50%,

8/01/2049

d

215,682

227,477

3.50%,

9/01/2049

d

188,258

198,554

4.00%,

9/01/2049

d

51,595

55,098

3.00%,

10/01/2049

d

203,093

212,222

2.50%,

11/01/2049

d

49,221

51,229

4.50%,

11/01/2049

d

26,324

28,488

3.00%,

12/01/2049

d

121,227

126,677

4.00%,

1/01/2050

d

70,118

74,880

3.00%,

2/01/2050

d

182,366

190,564

3.00%,

2/01/2050

d

87,092

91,007

3.00%,

3/01/2050

d

115,774

121,647

4.00%,

6/01/2050

d

69,108

73,801

2.00%,

7/01/2050

d

73,466

75,849

2.50%,

7/01/2050

d

123,114

128,503

2.50%,

8/01/2050

d

123,178

128,569

2.00%,

9/01/2050

d

59,868

61,810

2.00%,

9/01/2050

d

49,776

51,391

2.50%,

9/01/2050

d

99,465

103,819

2.50%,

9/01/2050

d

49,908

52,093

2.00%,

11/15/2050

d,e

175,000

180,488

2.50%,

11/15/2050

d,e

200,000

208,402

3.00%,

11/15/2050

d,e

125,000

130,652

1.50%,

12/15/2050

d,e

25,000

25,119

2.00%,

12/15/2050

d,e

200,000

205,788

2.50%,

12/15/2050

d,e

50,000

52,020

68

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Government

Agencies

Mortgage-Backed

–

30.0%

(continued)

Federal

National

Mortgage

Association

REMICs

Series

2014-M3,

Class

A2,

3.49%,

1/25/2024

d

23,887

25,958

Series

2018-M1,

Class

A2,

2.98%,

12/25/2027

d

100,000

113,242

Series

2019-M1,

Class

A2,

3.55%,

9/25/2028

d

25,000

29,232

Series

2020-M1,

Class

A1,

2.15%,

10/25/2029

d

29,961

32,135

Series

2018-M13,

Class

A2,

3.70%,

9/25/2030

d

10,000

12,103

Government

National

Mortgage

Association

2.00%,

11/15/2050

e

25,000

25,959

2.50%,

11/15/2050

e

100,000

104,709

3.00%,

11/15/2050

e

75,000

78,271

2.50%,

12/15/2050

e

50,000

52,235

3.00%,

12/15/2050

e

50,000

52,186

Government

National

Mortgage

Association

II

3.50%,

10/20/2026

45,161

47,868

4.00%,

10/20/2040

38,267

42,374

5.00%,

10/20/2040

42,726

48,990

4.50%,

1/20/2041

24,612

27,544

4.00%,

11/20/2041

33,462

37,080

3.00%,

8/20/2042

96,095

102,369

3.50%,

2/20/2043

77,019

83,811

2.50%,

3/20/2043

21,909

23,279

3.00%,

4/20/2043

125,348

133,395

3.50%,

7/20/2043

157,669

171,423

3.50%,

2/20/2045

75,275

81,365

3.50%,

3/20/2046

60,103

64,354

4.00%,

3/20/2046

73,895

80,572

3.00%,

4/20/2046

38,995

41,301

4.00%,

6/20/2046

101,708

109,935

2.50%,

7/20/2046

57,647

60,862

2.50%,

10/20/2046

21,505

22,705

3.00%,

10/20/2046

47,622

50,438

3.00%,

11/20/2046

96,811

102,537

3.00%,

5/20/2047

171,924

181,386

4.50%,

9/20/2047

95,566

104,140

3.00%,

10/20/2047

29,337

30,951

3.50%,

2/20/2048

64,905

69,249

4.00%,

9/20/2048

42,596

45,486

4.50%,

11/20/2048

74,547

80,668

3.50%,

1/20/2049

154,444

164,780

4.00%,

2/20/2049

70,651

75,444

3.00%,

1/20/2050

21,080

22,003

3.50%,

2/20/2050

118,054

124,355

4.00%,

2/20/2050

43,565

46,406

2.50%,

3/20/2050

41,493

43,504

3.50%,

4/20/2050

47,709

50,255

3.00%,

5/20/2050

97,866

103,027

5.00%,

5/20/2050

48,132

52,722

2.50%,

6/20/2050

49,223

51,609

2.50%,

7/20/2050

49,507

51,907

3.00%,

7/20/2050

24,782

26,089

3.50%,

7/20/2050

74,120

79,157

3.00%,

8/20/2050

24,875

26,187

2.50%,

9/20/2050

49,873

52,290

Total

U.S.

Government

Agencies

Mortgage-

Backed

(cost

$13,666,544)

13,592,651

U.S.

Treasury

Government

Securities

–

36.9%

U.S.

Treasury

Bonds

6.25%,

5/15/2030

a

155,000

232,791

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

36.9%

(continued)

U.S.

Treasury

Bonds

(continued)

5.38%,

2/15/2031

a

5,000

7,236

4.50%,

2/15/2036

a

25,000

36,957

3.50%,

2/15/2039

a

5,000

6,838

4.25%,

5/15/2039

10,000

14,952

4.63%,

2/15/2040

50,000

78,453

1.13%,

5/15/2040

180,000

171,816

4.38%,

5/15/2040

65,000

99,379

1.13%,

8/15/2040

185,000

176,039

3.88%,

8/15/2040

50,000

72,055

4.25%,

11/15/2040

49,000

74,082

4.75%,

2/15/2041

50,000

80,328

4.38%,

5/15/2041

25,000

38,531

3.75%,

8/15/2041

65,000

92,818

3.13%,

11/15/2041

35,000

45,976

3.13%,

2/15/2042

70,000

92,170

3.00%,

5/15/2042

35,000

45,221

2.75%,

8/15/2042

72,000

89,606

2.75%,

11/15/2042

127,000

157,917

3.63%,

2/15/2044

50,000

71,102

3.13%,

8/15/2044

45,000

59,562

3.00%,

11/15/2044

60,000

77,916

2.50%,

2/15/2045

65,000

77,695

3.00%,

5/15/2045

75,000

97,535

2.25%,

8/15/2046

75,000

85,840

3.00%,

2/15/2047

75,000

98,379

2.75%,

8/15/2047

190,000

239,014

2.75%,

11/15/2047

65,000

81,809

3.00%,

2/15/2048

86,000

113,197

3.13%,

5/15/2048

25,000

33,656

3.00%,

8/15/2048

75,000

98,965

3.38%,

11/15/2048

100,000

140,969

3.00%,

2/15/2049

90,000

119,025

2.88%,

5/15/2049

95,000

122,966

2.25%,

8/15/2049

75,000

86,074

2.38%,

11/15/2049

140,000

164,916

2.00%,

2/15/2050

110,000

119,797

1.25%,

5/15/2050

a

108,000

98,196

1.38%,

8/15/2050

150,000

140,883

U.S.

Treasury

Notes

2.00%,

11/15/2021

75,000

76,436

2.00%,

12/31/2021

25,000

25,538

1.38%,

1/31/2022

150,000

152,291

1.50%,

1/31/2022

95,000

96,599

1.88%,

1/31/2022

175,000

178,760

2.50%,

2/15/2022

60,000

61,814

1.13%,

2/28/2022

20,000

20,260

1.75%,

2/28/2022

95,000

97,015

1.88%,

2/28/2022

100,000

102,289

2.38%,

3/15/2022

50,000

51,521

0.38%,

3/31/2022

75,000

75,243

1.75%,

3/31/2022

95,000

97,141

1.88%,

3/31/2022

100,000

102,430

0.13%,

4/30/2022

145,000

144,955

1.75%,

4/30/2022

100,000

102,391

1.88%,

4/30/2022

200,000

205,148

0.13%,

5/31/2022

50,000

49,980

1.75%,

5/31/2022

30,000

30,755

1.88%,

5/31/2022

100,000

102,715

1.75%,

6/15/2022

150,000

153,861

0.13%,

6/30/2022

50,000

49,975

69

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

36.9%

(continued)

U.S.

Treasury

Notes

(continued)

1.75%,

6/30/2022

100,000

102,645

1.75%,

7/15/2022

175,000

179,744

0.13%,

7/31/2022

100,000

99,941

1.88%,

7/31/2022

100,000

102,992

1.50%,

8/15/2022

105,000

107,522

0.13%,

8/31/2022

45,000

44,974

1.63%,

8/31/2022

100,000

102,672

1.50%,

9/15/2022

a

105,000

107,637

0.13%,

9/30/2022

a

200,000

199,883

1.88%,

9/30/2022

75,000

77,455

1.38%,

10/15/2022

180,000

184,275

0.13%,

10/31/2022

150,000

149,915

2.00%,

10/31/2022

50,000

51,834

1.63%,

11/15/2022

50,000

51,488

2.00%,

11/30/2022

75,000

77,859

1.63%,

12/15/2022

100,000

103,102

2.13%,

12/31/2022

100,000

104,234

1.50%,

1/15/2023

100,000

102,937

2.38%,

1/31/2023

50,000

52,477

2.00%,

2/15/2023

115,000

119,807

1.50%,

2/28/2023

21,000

21,650

0.50%,

3/15/2023

185,000

186,445

1.50%,

3/31/2023

25,000

25,799

0.25%,

4/15/2023

a

195,000

195,366

1.63%,

4/30/2023

100,000

103,609

0.13%,

5/15/2023

50,000

49,937

1.75%,

5/15/2023

130,000

135,180

0.25%,

6/15/2023

50,000

50,090

1.38%,

6/30/2023

50,000

51,582

0.13%,

7/15/2023

75,000

74,883

1.25%,

7/31/2023

100,000

102,906

0.13%,

8/15/2023

145,000

144,739

2.50%,

8/15/2023

200,000

212,875

0.13%,

9/15/2023

125,000

124,766

1.38%,

9/30/2023

100,000

103,437

0.13%,

10/15/2023

150,000

149,695

2.75%,

11/15/2023

125,000

134,648

2.00%,

4/30/2024

141,000

149,636

2.50%,

5/15/2024

80,000

86,350

2.00%,

5/31/2024

150,000

159,375

2.00%,

6/30/2024

180,000

191,447

2.13%,

7/31/2024

50,000

53,473

2.38%,

8/15/2024

50,000

53,973

1.88%,

8/31/2024

200,000

212,203

2.13%,

9/30/2024

100,000

107,180

2.25%,

10/31/2024

100,000

107,805

2.25%,

11/15/2024

125,000

134,824

1.50%,

11/30/2024

200,000

209,781

2.13%,

11/30/2024

150,000

161,121

1.75%,

12/31/2024

100,000

105,984

2.25%,

12/31/2024

125,000

135,078

1.38%,

1/31/2025

75,000

78,375

2.50%,

1/31/2025

100,000

109,234

2.00%,

2/15/2025

150,000

160,746

1.13%,

2/28/2025

a

85,000

87,962

2.75%,

2/28/2025

200,000

220,906

0.50%,

3/31/2025

35,000

35,265

0.38%,

4/30/2025

100,000

100,180

2.13%,

5/15/2025

105,000

113,433

0.25%,

5/31/2025

a

10,000

9,959

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

U.S.

Treasury

Government

Securities

–

36.9%

(continued)

U.S.

Treasury

Notes

(continued)

0.25%,

6/30/2025

100,000

99,539

0.25%,

7/31/2025

100,000

99,492

2.00%,

8/15/2025

80,000

86,194

0.25%,

8/31/2025

a

85,000

84,522

0.25%,

9/30/2025

a

175,000

173,934

0.25%,

10/31/2025

200,000

198,713

2.25%,

11/15/2025

90,000

98,339

1.63%,

2/15/2026

125,000

132,871

2.50%,

2/28/2026

80,000

88,750

2.25%,

3/31/2026

150,000

164,543

1.63%,

5/15/2026

145,000

154,255

1.88%,

6/30/2026

150,000

161,777

1.88%,

7/31/2026

159,000

171,546

1.50%,

8/15/2026

145,000

153,349

1.38%,

8/31/2026

150,000

157,570

2.00%,

11/15/2026

100,000

108,797

0.50%,

4/30/2027

35,000

34,828

2.38%,

5/15/2027

95,000

105,984

0.50%,

5/31/2027

45,000

44,747

0.50%,

6/30/2027

50,000

49,680

0.38%,

7/31/2027

a

25,000

24,621

2.25%,

8/15/2027

125,000

138,730

0.50%,

8/31/2027

20,000

19,847

0.38%,

9/30/2027

100,000

98,328

0.50%,

10/31/2027

90,000

89,198

2.75%,

2/15/2028

175,000

201,113

2.88%,

5/15/2028

132,000

153,326

2.88%,

8/15/2028

124,000

144,441

3.13%,

11/15/2028

75,000

89,098

2.63%,

2/15/2029

100,000

115,125

1.63%,

8/15/2029

a

100,000

107,234

1.75%,

11/15/2029

110,000

119,230

1.50%,

2/15/2030

a

82,000

87,061

0.63%,

5/15/2030

150,000

147,094

0.63%,

8/15/2030

285,000

278,810

Total

U.S.

Treasury

Government

Securities

(cost

$16,859,691)

16,675,754

Investment

Companies

–

2.4%

Shares

Registered

Investment

Companies

–

2.4%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

f,g

(cost

$1,088,560)

1,088,560

1,088,560

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.2%

Registered

Investment

Companies

–

0.2%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

f,g

(cost

$88,150)

88,150

88,150

Total

Investments

Before

TBA

Sale

Commitments  (cost

$46,444,290)

102.5%

46,392,686

TBA

Sale

Commitments

–

-0.7%

Principal

Amount

($)

Federal

National

Mortgage

Association

h

3.50%,

11/15/2050

d

125,000

(131,987)

4.00%,

11/15/2050

d

25,000

(26,697)

4.50%,

11/15/2050

d

75,000

(81,116)

4.00%,

12/15/2050

d

25,000

(26,712)

Government

National

Mortgage

Association

h

4.00%,

11/15/2050

25,000

(26,591)

70

STATEMENT

OF

INVESTMENTS

(continued)

a

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$1,541,703

and

the

value

of

the

collateral

was

$1,582,656,

consisting

of

cash

collateral

of

$88,150

and

U.S.

Government

&

Agency

securities

valued

at

$1,494,506.

b

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

October

31,

2020,

these

securities

were

valued

at

$427,232

or

0.94%

of

net

asset.

c

Denotes

a

zero

coupon

security

issued

at

a

substantial

discount

from

its

value

at

maturity.

d

The

Federal

Housing

Finance

Agency

(“FHFA”)

placed

the

Federal

Home

Loan

Mortgage

Corporation

and

Federal

National

Mortgage

Association

into

conservatorship

with

FHFA

as

the

conservator.

As

such,

the

FHFA

oversees

the

continuing

affairs

of

these

companies

e

Purchased

on

a

forward

commitment

basis.

f

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

g

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

h

Sales

on

a

forward

commitment

basis.

BNY

Mellon

Core

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

TBA

Sale

Commitments

–

-0.7%

(continued)

Government

National

Mortgage

Association

h

(continued)

4.50%,

11/15/2050

25,000

(26,820)

Total

TBA

Sale

Commitments

(cost

$(320,009))

(319,923)

Total

Investments

(cost

$46,124,281)

101.8%

46,072,763

Liabilities,

Less

Cash

and

Receivables

(1.8)%

(824,987)

Net

Assets

100.0%

45,247,776

GO—General

Obligation

RB—Revenue

Bond

REMICs—Real

Estate

Mortgage

Investment

Conduits

Description

Value

4/24/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

10,386,401

(9,297,841)

—

—

1,088,560

2.4

183

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

873,670

(785,520)

—

—

88,150

0.2

441

2

Total

—

11,260,071

(10,083,361)

—

—

1,176,710

2.6

624

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

71

See

Notes

to

Financial

Statements

Portfolio

Summary

(Unaudited)

†

Value

(%)

Government

40.8

Financial

39.7

Consumer,

Non-cyclical

4.9

Communications

2.8

Registered

Investment

Companies

2.6

Utilities

2.4

Energy

2.3

Industrial

2.3

Consumer,

Cyclical

2.1

Technology

1.8

Basic

Materials

0.8

TBA

Sale

Commitments

-0.7

101.8

†

Based

on

net

assets.

72

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

Basic

Materials

–

1.2%

BHP

Billiton

Finance

USA

Ltd.,

2.88%,

2/24/2022

50,000

51,539

Dow

Chemical

Co.

(The),

3.50%,

10/01/2024

17,000

18,560

DuPont

de

Nemours,

Inc.,

4.21%,

11/15/2023

50,000

54,970

LYB

International

Finance

BV,

4.00%,

7/15/2023

50,000

54,167

Mosaic

Co.

(The),

4.25%,

11/15/2023

25,000

27,175

Nucor

Corp.,

2.00%,

6/01/2025

25,000

26,146

Nutrien

Ltd.,

3.15%,

10/01/2022

65,000

67,751

Reliance

Steel

&

Aluminum

Co.,

1.30%,

8/15/2025

25,000

25,000

Steel

Dynamics,

Inc.,

2.40%,

6/15/2025

25,000

26,260

351,568

Communications

–

5.2%

Alphabet,

Inc.,

0.45%,

8/15/2025

25,000

24,849

Amazon.com,

Inc.,

2.80%,

8/22/2024

85,000

91,758

Amazon.Com,

Inc.,

0.80%,

6/03/2025

20,000

20,173

AT&T,

Inc.

3.00%,

6/30/2022

50,000

51,883

3.40%,

5/15/2025

75,000

82,693

Booking

Holdings,

Inc.,

3.65%,

3/15/2025

50,000

54,859

Charter

Communications

Operating

LLC

/

Charter

Communications

Operating

Capital

4.46%,

7/23/2022

50,000

52,981

4.91%,

7/23/2025

50,000

57,559

Cisco

Systems,

Inc.,

2.20%,

9/20/2023

70,000

73,535

Comcast

Cable

Communications

Holdings,

Inc.,

9.46%,

11/15/2022

50,000

59,210

Comcast

Corp.

3.00%,

2/01/2024

50,000

53,743

3.38%,

2/15/2025

50,000

55,162

3.95%,

10/15/2025

25,000

28,635

Discovery

Communications

LLC,

2.95%,

3/20/2023

27,000

28,434

eBay,

Inc.

2.60%,

7/15/2022

75,000

77,364

3.45%,

8/01/2024

25,000

27,233

Fox

Corp.,

3.05%,

4/07/2025

25,000

27,214

Omnicom

Group,

Inc.

/

Omnicom

Capital,

Inc.,

3.65%,

11/01/2024

25,000

27,436

Rogers

Communications,

Inc.,

4.10%,

10/01/2023

50,000

54,716

T-Mobile

USA,

Inc.,

3.50%,

4/15/2025

a

50,000

54,829

Verizon

Communications,

Inc.

5.15%,

9/15/2023

50,000

56,527

3.38%,

2/15/2025

75,000

83,228

ViacomCBS

,

Inc.,

3.70%,

8/15/2024

45,000

49,051

Vodafone

Group

PLC,

2.50%,

9/26/2022

95,000

98,492

Walt

Disney

Co.

(The)

1.65%,

9/01/2022

50,000

51,192

3.70%,

10/15/2025

75,000

84,724

WPP

Finance

2010,

3.75%,

9/19/2024

50,000

54,690

1,482,170

Consumer,

Cyclical

–

6.8%

American

Honda

Finance

Corp.

2.20%,

6/27/2022

45,000

46,338

Series

G,

3.45%,

7/14/2023

30,000

32,325

2.15%,

9/10/2024

70,000

73,628

1.20%,

7/08/2025

25,000

25,259

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Cyclical

–

6.8%

(continued)

AutoZone,

Inc.,

3.13%,

7/15/2023

50,000

53,027

Continental

Airlines

Pass-Through

Trust,

Series

2012-1,

Class

A,

4.15%,

4/11/2024

15,771

15,530

Costco

Wholesale

Corp.,

2.75%,

5/18/2024

70,000

75,446

D.R.

Horton,

Inc.,

2.50%,

10/15/2024

25,000

26,424

Dollar

Tree,

Inc.,

4.00%,

5/15/2025

50,000

56,378

General

Motors

Co.,

4.88%,

10/02/2023

50,000

54,580

General

Motors

Financial

Co.,

Inc.

3.55%,

7/08/2022

100,000

103,733

1.70%,

8/18/2023

25,000

25,222

3.95%,

4/13/2024

25,000

26,642

4.00%,

1/15/2025

25,000

26,794

2.90%,

2/26/2025

50,000

51,897

2.75%,

6/20/2025

25,000

25,828

Home

Depot,

Inc.

(The)

3.25%,

3/01/2022

50,000

51,953

2.63%,

6/01/2022

50,000

51,778

Hyatt

Hotels

Corp.,

5.38%,

4/23/2025

25,000

27,068

Kohl's

Corp.,

9.50%,

5/15/2025

20,000

23,905

Las

Vegas

Sands

Corp.,

3.20%,

8/08/2024

50,000

50,576

Lowe's

Cos.,

Inc.,

3.13%,

9/15/2024

15,000

16,264

Marriott

International,

Inc.,

Series

EE,

5.75%,

5/01/2025

50,000

55,671

McDonald's

Corp.,

2.63%,

1/15/2022

75,000

77,052

Nike,

Inc.,

2.40%,

3/27/2025

50,000

53,701

PACCAR

Financial

Corp.

2.65%,

5/10/2022

50,000

51,747

0.35%,

8/11/2023

25,000

24,975

Southwest

Airlines

Co.,

5.25%,

5/04/2025

50,000

55,477

Starbucks

Corp.,

3.10%,

3/01/2023

50,000

52,977

Tapestry,

Inc.,

4.25%,

4/01/2025

25,000

26,207

Target

Corp.,

2.90%,

1/15/2022

70,000

72,187

Toyota

Motor

Credit

Corp.

2.15%,

9/08/2022

70,000

72,316

2.90%,

3/30/2023

25,000

26,495

Series

G,

3.45%,

9/20/2023

50,000

54,241

2.90%,

4/17/2024

25,000

26,864

3.00%,

4/01/2025

50,000

54,825

3.40%,

4/14/2025

25,000

27,838

0.80%,

10/16/2025

15,000

15,005

Walgreens

Boots

Alliance,

Inc.,

3.80%,

11/18/2024

50,000

55,107

Walmart,

Inc.

2.35%,

12/15/2022

75,000

78,126

2.85%,

7/08/2024

75,000

81,102

WW

Grainger,

Inc.,

1.85%,

2/15/2025

25,000

26,092

1,928,600

Consumer,

Non-cyclical

–

15.2%

Abbott

Laboratories,

2.95%,

3/15/2025

50,000

54,750

AbbVie,

Inc.

3.38%,

11/14/2021

75,000

77,234

2.30%,

11/21/2022

a

75,000

77,701

2.85%,

5/14/2023

70,000

73,630

3.85%,

6/15/2024

a

50,000

54,831

2.60%,

11/21/2024

a

75,000

79,778

3.80%,

3/15/2025

a

50,000

55,483

Aetna,

Inc.,

2.80%,

6/15/2023

50,000

52,559

73

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

15.2%

(continued)

Altria

Group,

Inc.

2.85%,

8/09/2022

35,000

36,434

2.95%,

5/02/2023

65,000

68,481

Amgen,

Inc.

2.70%,

5/01/2022

50,000

51,516

2.65%,

5/11/2022

50,000

51,608

3.13%,

5/01/2025

25,000

27,302

Anheuser-Busch

InBev

Worldwide,

Inc.,

4.15%,

1/23/2025

50,000

56,667

Anthem,

Inc.

3.50%,

8/15/2024

50,000

54,618

2.38%,

1/15/2025

50,000

53,030

Archer-Daniels-Midland

Co.,

2.75%,

3/27/2025

25,000

27,129

BAT

Capital

Corp.,

3.22%,

8/15/2024

90,000

96,552

Becton,

Dickinson

&

Co.,

3.36%,

6/06/2024

75,000

80,915

Boston

Scientific

Corp.,

3.45%,

3/01/2024

25,000

27,044

Bristol-Myers

Squibb

Co.

2.60%,

5/16/2022

80,000

82,765

2.75%,

2/15/2023

45,000

47,309

4.00%,

8/15/2023

20,000

21,957

2.90%,

7/26/2024

75,000

81,099

Bunge

Ltd.

Finance

Corp.,

1.63%,

8/17/2025

20,000

20,115

Campbell

Soup

Co.,

2.50%,

8/02/2022

50,000

51,605

Cardinal

Health,

Inc.,

3.08%,

6/15/2024

75,000

80,555

Cigna

Corp.

3.05%,

11/30/2022

35,000

36,699

3.75%,

7/15/2023

75,000

81,185

Coca-Cola

Co.

(The)

3.20%,

11/01/2023

75,000

81,181

2.95%,

3/25/2025

25,000

27,440

Commonspirit

Health,

2.76%,

10/01/2024

25,000

26,194

Constellation

Brands,

Inc.,

3.20%,

2/15/2023

65,000

68,579

CVS

Health

Corp.

3.70%,

3/09/2023

130,000

139,161

3.38%,

8/12/2024

50,000

54,383

4.10%,

3/25/2025

60,000

67,653

Diageo

Investment

Corp.,

2.88%,

5/11/2022

50,000

51,882

Estee

Lauder

Cos.,

Inc.

(The),

2.00%,

12/01/2024

25,000

26,321

General

Mills,

Inc.

2.60%,

10/12/2022

25,000

25,978

4.00%,

4/17/2025

25,000

28,237

Gilead

Sciences,

Inc.

1.95%,

3/01/2022

50,000

50,897

3.25%,

9/01/2022

50,000

52,317

3.50%,

2/01/2025

25,000

27,507

GlaxoSmithKline

Capital

PLC,

3.00%,

6/01/2024

70,000

75,559

GlaxoSmithKline

Capital,

Inc.,

3.38%,

5/15/2023

50,000

53,735

Global

Payments,

Inc.,

2.65%,

2/15/2025

25,000

26,456

HCA,

Inc.,

5.00%,

3/15/2024

80,000

89,545

Hershey

Co.

(The),

0.90%,

6/01/2025

25,000

25,256

Johnson

&

Johnson,

2.25%,

3/03/2022

75,000

76,856

Keurig

Dr

Pepper,

Inc.

4.06%,

5/25/2023

30,000

32,530

3.13%,

12/15/2023

50,000

53,581

Laboratory

Corp.

of

America

Holdings,

3.60%,

2/01/2025

50,000

55,276

McCormick

&

Co.,

Inc.,

2.70%,

8/15/2022

70,000

72,652

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Consumer,

Non-cyclical

–

15.2%

(continued)

Medtronic,

Inc.,

3.50%,

3/15/2025

34,000

38,219

Merck

&

Co.,

Inc.

2.80%,

5/18/2023

75,000

79,716

2.90%,

3/07/2024

25,000

26,916

Mondelez

International,

Inc.

0.63%,

7/01/2022

20,000

20,075

1.50%,

5/04/2025

50,000

51,322

Novartis

Capital

Corp.,

2.40%,

5/17/2022

75,000

77,340

PayPal

Holdings,

Inc.

2.40%,

10/01/2024

50,000

53,038

1.65%,

6/01/2025

30,000

31,007

PepsiCo,

Inc.

2.75%,

3/05/2022

50,000

51,633

0.75%,

5/01/2023

50,000

50,492

2.25%,

3/19/2025

50,000

53,352

Pfizer,

Inc.

3.00%,

6/15/2023

65,000

69,340

2.95%,

3/15/2024

25,000

26,904

Philip

Morris

International,

Inc.

2.38%,

8/17/2022

25,000

25,858

2.88%,

5/01/2024

70,000

75,148

Procter

&

Gamble

Co.

(The),

1.70%,

11/03/2021

25,000

25,353

Reynolds

American,

Inc.,

4.45%,

6/12/2025

30,000

33,879

Royalty

Pharma

PLC,

0.75%,

9/02/2023

a

25,000

24,994

Shire

Acquisitions

Investments

Ireland

DAC,

2.88%,

9/23/2023

75,000

79,556

SYSCO

Corp.,

3.55%,

3/15/2025

25,000

27,283

Thermo

Fisher

Scientific,

Inc.,

4.13%,

3/25/2025

50,000

56,828

Tyson

Foods,

Inc.,

3.90%,

9/28/2023

35,000

38,211

Unilever

Capital

Corp.,

2.60%,

5/05/2024

100,000

106,488

UnitedHealth

Group,

Inc.

2.88%,

12/15/2021

70,000

71,982

3.35%,

7/15/2022

60,000

63,074

3.75%,

7/15/2025

25,000

28,434

Upjohn,

Inc.,

1.65%,

6/22/2025

a

30,000

30,658

Zimmer

Biomet

Holdings,

Inc.,

3.55%,

4/01/2025

50,000

55,019

4,321,846

Energy

–

7.5%

BP

Capital

Markets

America,

Inc.

3.25%,

5/06/2022

75,000

78,173

3.19%,

4/06/2025

25,000

27,313

BP

Capital

Markets

PLC

3.06%,

3/17/2022

75,000

77,781

3.51%,

3/17/2025

50,000

55,440

Canadian

Natural

Resources

Ltd.

2.95%,

1/15/2023

20,000

20,739

2.05%,

7/15/2025

15,000

15,200

Cheniere

Corpus

Christi

Holdings

LLC,

5.88%,

3/31/2025

25,000

28,324

Chevron

Corp.

2.36%,

12/05/2022

85,000

88,131

1.55%,

5/11/2025

75,000

77,402

Chevron

USA,

Inc.

0.43%,

8/11/2023

25,000

24,993

0.69%,

8/12/2025

25,000

24,884

Diamondback

Energy,

Inc.,

4.75%,

5/31/2025

35,000

38,018

74

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Energy

–

7.5%

(continued)

Enbridge,

Inc.

2.90%,

7/15/2022

25,000

25,891

3.50%,

6/10/2024

50,000

53,794

Energy

Transfer

Operating

LP

4.25%,

3/15/2023

75,000

78,317

4.50%,

4/15/2024

75,000

79,670

Enterprise

Products

Operating

LLC

3.50%,

2/01/2022

70,000

72,635

4.05%,

2/15/2022

25,000

26,103

Exxon

Mobil

Corp.

2.40%,

3/06/2022

50,000

51,200

2.73%,

3/01/2023

b

50,000

52,489

2.99%,

3/19/2025

125,000

136,141

Kinder

Morgan

Energy

Partners

LP

3.95%,

9/01/2022

50,000

52,536

4.25%,

9/01/2024

50,000

55,193

Marathon

Oil

Corp.,

2.80%,

11/01/2022

17,000

17,313

Marathon

Petroleum

Corp.

4.75%,

12/15/2023

19,000

20,868

3.63%,

9/15/2024

50,000

53,043

MPLX

LP,

4.88%,

12/01/2024

50,000

56,009

ONEOK

Partners

LP,

3.38%,

10/01/2022

50,000

51,902

ONEOK,

Inc.,

2.75%,

9/01/2024

25,000

25,507

Phillips

66,

3.85%,

4/09/2025

50,000

55,071

Plains

All

American

Pipeline

LP

/

PAA

Finance

Corp.,

2.85%,

1/31/2023

25,000

25,438

Sabine

Pass

Liquefaction

LLC

6.25%,

3/15/2022

100,000

105,691

5.63%,

3/01/2025

17,000

19,443

Shell

International

Finance

BV

2.25%,

1/06/2023

50,000

51,902

2.00%,

11/07/2024

50,000

52,482

2.38%,

4/06/2025

35,000

37,357

Suncor

Energy,

Inc.,

3.10%,

5/15/2025

25,000

26,737

Total

Capital

International

SA

2.70%,

1/25/2023

25,000

26,259

3.75%,

4/10/2024

70,000

77,331

Valero

Energy

Corp.,

3.65%,

3/15/2025

50,000

53,148

Williams

Cos.,

Inc.

(The)

3.60%,

3/15/2022

50,000

51,713

3.35%,

8/15/2022

50,000

51,883

4.00%,

9/15/2025

25,000

27,687

2,127,151

Financial

–

41.9%

Aercap

Ireland

Capital

DAC

/

Aercap

Global

Aviation

Trust,

4.50%,

9/15/2023

150,000

155,830

Aflac,

Inc.,

3.25%,

3/17/2025

50,000

55,072

Air

Lease

Corp.

2.63%,

7/01/2022

50,000

50,652

2.30%,

2/01/2025

50,000

49,128

Aircastle

Ltd.,

4.13%,

5/01/2024

50,000

49,217

Allstate

Corp.

(The),

Series

B,

5.75%,

8/15/2053

10,000

10,620

Ally

Financial,

Inc.

4.13%,

2/13/2022

50,000

52,067

5.13%,

9/30/2024

25,000

28,162

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.9%

(continued)

American

Express

Co.

2.50%,

8/01/2022

100,000

103,446

3.40%,

2/22/2024

50,000

54,209

2.50%,

7/30/2024

50,000

53,141

American

International

Group,

Inc.

4.88%,

6/01/2022

50,000

53,479

3.75%,

7/10/2025

25,000

28,017

American

Tower

Corp.

3.50%,

1/31/2023

50,000

53,112

3.00%,

6/15/2023

50,000

52,999

2.40%,

3/15/2025

50,000

52,848

Ameriprise

Financial,

Inc.

3.70%,

10/15/2024

50,000

55,533

3.00%,

4/02/2025

25,000

27,115

Ares

Capital

Corp.,

3.50%,

2/10/2023

50,000

51,504

Assured

Guaranty

US

Holdings,

Inc.,

5.00%,

7/01/2024

b

25,000

28,366

Bank

of

America

Corp.

Series

G,

3.30%,

1/11/2023

60,000

63,620

3.12%,

1/20/2023

100,000

103,048

3.00%,

12/20/2023

50,000

52,445

4.13%,

1/22/2024

75,000

82,902

3.55%,

3/05/2024

100,000

106,506

1.49%,

5/19/2024

25,000

25,497

4.20%,

8/26/2024

100,000

111,541

0.81%,

10/24/2024

25,000

25,034

3.46%,

3/15/2025

75,000

81,148

Series

L,

3.95%,

4/21/2025

50,000

55,735

3.88%,

8/01/2025

30,000

33,980

2.02%,

2/13/2026

100,000

103,549

Bank

of

Montreal

2.90%,

3/26/2022

50,000

51,776

Series

E,

3.30%,

2/05/2024

25,000

26,995

1.85%,

5/01/2025

50,000

52,147

Bank

of

Nova

Scotia

(The)

2.70%,

3/07/2022

50,000

51,593

2.00%,

11/15/2022

25,000

25,814

3.40%,

2/11/2024

75,000

81,368

1.30%,

6/11/2025

30,000

30,556

Barclays

PLC,

4.38%,

9/11/2024

200,000

215,584

Berkshire

Hathaway

Finance

Corp.,

3.00%,

5/15/2022

70,000

72,865

BlackRock,

Inc.,

3.50%,

3/18/2024

75,000

82,351

BNP

Paribas

SA,

3.25%,

3/03/2023

50,000

53,271

Boston

Properties

LP,

3.20%,

1/15/2025

75,000

81,325

Brixmor

Operating

Partnership

LP

3.25%,

9/15/2023

50,000

51,982

3.65%,

6/15/2024

55,000

58,169

Canadian

Imperial

Bank

of

Commerce

2.55%,

6/16/2022

100,000

103,652

0.95%,

6/23/2023

30,000

30,343

Capital

One

Financial

Corp.

3.20%,

1/30/2023

75,000

79,074

3.90%,

1/29/2024

50,000

54,564

3.30%,

10/30/2024

50,000

54,191

Charles

Schwab

Corp.

(The),

2.65%,

1/25/2023

50,000

52,331

Chubb

INA

Holdings,

Inc.,

3.35%,

5/15/2024

65,000

70,971

75

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.9%

(continued)

Citigroup,

Inc.

4.05%,

7/30/2022

125,000

132,406

2.88%,

7/24/2023

100,000

103,783

1.68%,

5/15/2024

50,000

51,210

3.75%,

6/16/2024

50,000

55,107

4.00%,

8/05/2024

20,000

22,076

3.35%,

4/24/2025

100,000

108,046

3.30%,

4/27/2025

50,000

55,185

3.11%,

4/08/2026

50,000

53,985

Comerica,

Inc.,

3.70%,

7/31/2023

50,000

54,008

Cooperatieve

Rabobank

UA,

3.88%,

2/08/2022

95,000

99,276

Credit

Suisse

Group

AG,

3.75%,

3/26/2025

250,000

276,650

Crown

Castle

International

Corp.,

3.20%,

9/01/2024

70,000

75,579

Deutsche

Bank

AG,

Series

D,

5.00%,

2/14/2022

150,000

157,051

Discover

Financial

Services,

3.85%,

11/21/2022

100,000

106,783

Equinix

,

Inc.,

1.25%,

7/15/2025

30,000

30,211

ERP

Operating

LP,

3.38%,

6/01/2025

20,000

22,089

Essex

Portfolio

LP,

3.25%,

5/01/2023

13,000

13,685

Fifth

Third

Bancorp,

3.65%,

1/25/2024

100,000

108,917

Franklin

Resources,

Inc.,

2.85%,

3/30/2025

50,000

54,318

GLP

Capital

LP

/

GLP

Financing

II,

Inc.,

5.25%,

6/01/2025

25,000

27,377

Goldman

Sachs

Group,

Inc.

(The)

5.75%,

1/24/2022

50,000

53,237

2.91%,

7/24/2023

100,000

103,851

3.63%,

2/20/2024

100,000

108,698

4.00%,

3/03/2024

40,000

44,104

3.85%,

7/08/2024

75,000

82,105

3.50%,

1/23/2025

50,000

54,687

3.27%,

9/29/2025

100,000

108,527

Healthpeak

Properties,

Inc.

3.88%,

8/15/2024

65,000

71,578

4.00%,

6/01/2025

20,000

22,486

Host

Hotels

&

Resorts

LP,

Series

E,

4.00%,

6/15/2025

20,000

20,739

HSBC

Holdings

PLC,

4.29%,

9/12/2026

200,000

224,243

HSBC

USA,

Inc.,

3.50%,

6/23/2024

150,000

162,764

Huntington

Bancshares,

Inc.,

2.63%,

8/06/2024

100,000

106,395

Intercontinental

Exchange,

Inc.,

0.70%,

6/15/2023

b

50,000

50,290

Jefferies

Financial

Group,

Inc.,

5.50%,

10/18/2023

25,000

27,479

JPMorgan

Chase

&

Co.

3.20%,

1/25/2023

50,000

53,115

3.21%,

4/01/2023

100,000

103,911

3.56%,

4/23/2024

75,000

80,350

3.63%,

5/13/2024

75,000

82,631

1.51%,

6/01/2024

50,000

51,092

3.88%,

9/10/2024

100,000

110,856

3.13%,

1/23/2025

50,000

54,517

3.22%,

3/01/2025

100,000

107,674

3.90%,

7/15/2025

40,000

45,242

2.08%,

4/22/2026

50,000

52,265

Lincoln

National

Corp.,

3.35%,

3/09/2025

25,000

27,286

Lloyds

Banking

Group

PLC,

3.00%,

1/11/2022

200,000

205,590

M&T

Bank

Corp.,

3.55%,

7/26/2023

50,000

54,158

Marsh

&

McLennan

Cos.,

Inc.,

2.75%,

1/30/2022

65,000

66,805

MetLife,

Inc.,

Series

D,

4.37%,

9/15/2023

50,000

55,449

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.9%

(continued)

Mitsubishi

UFJ

Financial

Group,

Inc.

3.22%,

3/07/2022

50,000

51,855

2.67%,

7/25/2022

100,000

103,769

3.46%,

3/02/2023

25,000

26,647

3.41%,

3/07/2024

100,000

108,237

Mizuho

Financial

Group,

Inc.,

2.95%,

2/28/2022

200,000

206,428

Morgan

Stanley

4.88%,

11/01/2022

100,000

108,263

Series

F,

3.88%,

4/29/2024

100,000

110,499

Series

G,

3.70%,

10/23/2024

25,000

27,786

2.72%,

7/22/2025

100,000

106,581

4.00%,

7/23/2025

40,000

45,474

2.19%,

4/28/2026

50,000

52,427

Natwest

Group

PLC

6.13%,

12/15/2022

100,000

109,481

6.00%,

12/19/2023

100,000

112,222

Owl

Rock

Capital

Corp.,

4.00%,

3/30/2025

50,000

50,358

PNC

Financial

Services

Group,

Inc.

(The)

3.30%,

3/08/2022

100,000

103,718

2.85%,

11/09/2022

c

25,000

26,212

2.20%,

11/01/2024

75,000

79,370

Prudential

Financial,

Inc.

5.63%,

6/15/2043

50,000

53,375

5.38%,

5/15/2045

25,000

26,949

Realty

Income

Corp.,

4.65%,

8/01/2023

50,000

55,073

Regions

Financial

Corp.,

3.80%,

8/14/2023

50,000

54,376

Royal

Bank

of

Canada

Series

G,

3.70%,

10/05/2023

50,000

54,607

Series

G,

2.25%,

11/01/2024

100,000

105,772

1.15%,

6/10/2025

30,000

30,483

Sabra

Health

Care

LP,

4.80%,

6/01/2024

25,000

26,409

Santander

Holdings

USA,

Inc.

3.40%,

1/18/2023

50,000

52,478

4.50%,

7/17/2025

40,000

44,413

Santander

UK

PLC,

4.00%,

3/13/2024

100,000

110,406

Simon

Property

Group

LP

2.63%,

6/15/2022

70,000

71,863

3.50%,

9/01/2025

25,000

27,365

State

Street

Corp.

3.70%,

11/20/2023

100,000

109,774

3.78%,

12/03/2024

25,000

27,412

3.55%,

8/18/2025

30,000

33,923

Stifel

Financial

Corp.,

4.25%,

7/18/2024

25,000

27,879

Sumitomo

Mitsui

Financial

Group,

Inc.

2.78%,

7/12/2022

100,000

103,818

2.35%,

1/15/2025

200,000

210,793

Synchrony

Financial,

4.50%,

7/23/2025

40,000

44,487

Toronto-Dominion

Bank

(The)

0.75%,

6/12/2023

30,000

30,208

0.45%,

9/11/2023

25,000

24,966

2.65%,

6/12/2024

100,000

106,730

1.15%,

6/12/2025

30,000

30,485

76

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Financial

–

41.9%

(continued)

Truist

Financial

Corp.

3.95%,

3/22/2022

50,000

52,245

2.75%,

4/01/2022

100,000

103,215

3.05%,

6/20/2022

100,000

104,121

2.85%,

10/26/2024

50,000

54,084

3.70%,

6/05/2025

30,000

33,772

1.20%,

8/05/2025

b

30,000

30,459

US

Bancorp

3.38%,

2/05/2024

150,000

162,901

3.60%,

9/11/2024

25,000

27,621

Ventas

Realty

LP,

3.50%,

4/15/2024

50,000

53,926

Visa,

Inc.,

2.80%,

12/14/2022

85,000

89,100

Voya

Financial,

Inc.,

3.13%,

7/15/2024

65,000

70,169

Wells

Fargo

&

Co.

2.63%,

7/22/2022

50,000

51,832

3.07%,

1/24/2023

100,000

102,998

4.13%,

8/15/2023

100,000

109,177

1.65%,

6/02/2024

25,000

25,551

3.30%,

9/09/2024

150,000

162,995

3.00%,

2/19/2025

25,000

26,989

2.16%,

2/11/2026

25,000

25,979

2.19%,

4/30/2026

100,000

104,074

Welltower

,

Inc.,

4.00%,

6/01/2025

20,000

22,505

Western

Union

Co.

(The),

2.85%,

1/10/2025

25,000

26,401

Westpac

Banking

Corp.

2.50%,

6/28/2022

100,000

103,509

2.00%,

1/13/2023

25,000

25,862

3.30%,

2/26/2024

50,000

54,235

Weyerhaeuser

Co.,

4.63%,

9/15/2023

65,000

72,340

11,879,741

Industrial

–

7.8%

3M

Co.

3.25%,

2/14/2024

70,000

75,985

2.00%,

2/14/2025

25,000

26,366

Arrow

Electronics,

Inc.,

3.25%,

9/08/2024

65,000

69,811

Boeing

Co.

(The)

2.13%,

3/01/2022

65,000

65,519

4.51%,

5/01/2023

40,000

42,431

4.88%,

5/01/2025

45,000

48,946

Burlington

Northern

Santa

Fe

LLC

3.05%,

3/15/2022

20,000

20,562

3.75%,

4/01/2024

50,000

54,825

Carrier

Global

Corp.,

2.24%,

2/15/2025

a

25,000

26,142

Caterpillar

Financial

Services

Corp.

1.90%,

9/06/2022

70,000

71,960

0.45%,

9/14/2023

50,000

49,997

3.75%,

11/24/2023

50,000

54,931

CNH

Industrial

Capital

LLC,

1.95%,

7/02/2023

25,000

25,432

FedEx

Corp.,

3.40%,

1/14/2022

50,000

51,736

Flex

Ltd.,

4.75%,

6/15/2025

20,000

22,485

General

Dynamics

Corp.

2.25%,

11/15/2022

25,000

25,853

2.38%,

11/15/2024

25,000

26,658

General

Electric

Co.

3.38%,

3/11/2024

50,000

53,737

Series

G,

3.45%,

5/15/2024

50,000

53,753

Honeywell

International,

Inc.,

2.15%,

8/08/2022

70,000

72,113

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Industrial

–

7.8%

(continued)

John

Deere

Capital

Corp.

1.95%,

6/13/2022

65,000

66,683

2.15%,

9/08/2022

70,000

72,423

2.80%,

3/06/2023

50,000

52,791

2.65%,

6/24/2024

65,000

69,645

Norfolk

Southern

Corp.,

3.00%,

4/01/2022

50,000

51,515

Northrop

Grumman

Corp.

2.55%,

10/15/2022

50,000

52,021

2.93%,

1/15/2025

75,000

81,216

Otis

Worldwide

Corp.,

2.06%,

4/05/2025

25,000

26,251

Packaging

Corp.

of

America

4.50%,

11/01/2023

25,000

27,566

3.65%,

9/15/2024

30,000

32,833

Raytheon

Technologies

Corp.,

2.80%,

3/15/2022

a

75,000

77,213

Republic

Services,

Inc.,

2.50%,

8/15/2024

70,000

74,328

Roper

Technologies,

Inc.,

2.35%,

9/15/2024

70,000

73,959

Ryder

System,

Inc.

2.80%,

3/01/2022

65,000

66,785

2.50%,

9/01/2024

50,000

52,722

Stanley

Black

&

Decker,

Inc.

2.90%,

11/01/2022

70,000

73,388

4.00%,

3/15/2060

25,000

26,061

Union

Pacific

Corp.

2.95%,

3/01/2022

50,000

51,716

3.15%,

3/01/2024

50,000

54,033

United

Parcel

Service,

Inc.,

2.50%,

4/01/2023

50,000

52,475

Waste

Management,

Inc.,

2.90%,

9/15/2022

65,000

67,485

WRKCo

,

Inc.,

3.00%,

9/15/2024

65,000

69,875

2,212,226

Technology

–

8.2%

Adobe,

Inc.,

1.70%,

2/01/2023

50,000

51,529

Analog

Devices,

Inc.,

2.50%,

12/05/2021

65,000

66,295

Apple,

Inc.

2.50%,

2/09/2022

75,000

76,954

2.30%,

5/11/2022

75,000

77,138

1.70%,

9/11/2022

50,000

51,300

2.10%,

9/12/2022

50,000

51,590

1.80%,

9/11/2024

100,000

104,489

2.50%,

2/09/2025

50,000

53,796

3.20%,

5/13/2025

50,000

55,508

0.55%,

8/20/2025

25,000

24,925

Broadcom

Corp.

/

Broadcom

Cayman

Finance

Ltd.

3.00%,

1/15/2022

100,000

102,735

3.63%,

1/15/2024

50,000

53,752

Broadcom,

Inc.,

3.63%,

10/15/2024

20,000

21,836

Dell

International

LLC

/

EMC

Corp.,

4.00%,

7/15/2024

a

70,000

76,008

Fiserv,

Inc.,

2.75%,

7/01/2024

85,000

90,726

Hewlett

Packard

Enterprise

Co.

2.25%,

4/01/2023

75,000

77,582

1.45%,

4/01/2024

40,000

40,754

HP,

Inc.,

2.20%,

6/17/2025

20,000

20,955

Intel

Corp.

2.35%,

5/11/2022

70,000

72,039

3.40%,

3/25/2025

25,000

27,774

3.70%,

7/29/2025

60,000

67,786

77

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Technology

–

8.2%

(continued)

International

Business

Machines

Corp.,

3.00%,

5/15/2024

150,000

162,144

Intuit,

Inc.,

0.95%,

7/15/2025

40,000

40,320

LAM

Research

Corp.,

3.80%,

3/15/2025

25,000

28,044

Micron

Technology,

Inc.,

2.50%,

4/24/2023

30,000

31,224

Microsoft

Corp.

2.40%,

2/06/2022

80,000

82,019

3.63%,

12/15/2023

75,000

82,075

2.70%,

2/12/2025

25,000

27,138

Oracle

Corp.

2.50%,

5/15/2022

75,000

77,219

2.40%,

9/15/2023

95,000

99,888

3.40%,

7/08/2024

25,000

27,315

2.95%,

11/15/2024

50,000

54,168

2.50%,

4/01/2025

50,000

53,561

QUALCOMM,

Inc.,

2.90%,

5/20/2024

b

50,000

53,756

Seagate

HDD

Cayman

4.88%,

3/01/2024

20,000

21,818

4.75%,

1/01/2025

50,000

55,025

Texas

Instruments,

Inc.,

1.85%,

5/15/2022

50,000

51,129

VMware,

Inc.,

2.95%,

8/21/2022

50,000

51,927

Xilinx,

Inc.,

2.95%,

6/01/2024

55,000

58,705

2,322,946

Utilities

–

5.2%

Alabama

Power

Co.,

Series

17A,

2.45%,

3/30/2022

50,000

51,350

Ameren

Corp.,

2.50%,

9/15/2024

40,000

42,504

Berkshire

Hathaway

Energy

Co.,

3.75%,

11/15/2023

50,000

54,409

CenterPoint

Energy,

Inc.,

2.50%,

9/01/2022

50,000

51,684

Dominion

Energy

Gas

Holdings

LLC,

3.60%,

12/15/2024

75,000

82,482

Dominion

Energy,

Inc.

3.07%,

8/15/2024

c

50,000

53,900

5.75%,

10/01/2054

25,000

27,013

DTE

Energy

Co.

Series

B,

2.60%,

6/15/2022

50,000

51,618

Series

C,

2.53%,

10/01/2024

25,000

26,566

Duke

Energy

Corp.,

3.75%,

4/15/2024

50,000

54,845

Duke

Energy

Progress

LLC,

3.25%,

8/15/2025

50,000

55,557

Edison

International,

3.55%,

11/15/2024

25,000

26,410

Entergy

Gulf

States

Louisiana

LLC,

5.59%,

10/01/2024

50,000

58,892

Evergy

,

Inc.,

2.45%,

9/15/2024

25,000

26,371

Eversource

Energy

Series

K,

2.75%,

3/15/2022

50,000

51,471

Series

Q,

0.80%,

8/15/2025

25,000

24,810

FirstEnergy

Corp.,

2.05%,

3/01/2025

25,000

25,028

Florida

Power

&

Light

Co.,

2.85%,

4/01/2025

50,000

54,432

Iberdrola

International

BV,

5.81%,

3/15/2025

35,000

41,391

National

Rural

Utilities

Cooperative

Finance

Corp.,

2.30%,

9/15/2022

65,000

67,196

NextEra

Energy

Capital

Holdings,

Inc.,

3.15%,

4/01/2024

85,000

91,497

NiSource,

Inc.,

0.95%,

8/15/2025

25,000

24,954

Pacific

Gas

and

Electric

Co.,

3.45%,

7/01/2025

50,000

52,306

PECO

Energy

Co.,

2.38%,

9/15/2022

65,000

67,188

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

99.0%

(continued)

Utilities

–

5.2%

(continued)

Public

Service

Enterprise

Group,

Inc.

2.00%,

11/15/2021

65,000

65,933

0.80%,

8/15/2025

25,000

24,921

Sempra

Energy,

2.90%,

2/01/2023

50,000

52,427

Southern

California

Edison

Co.,

Series

B,

2.40%,

2/01/2022

65,000

66,221

Southern

Power

Co.,

Series

E,

2.50%,

12/15/2021

50,000

51,086

Virginia

Electric

and

Power

Co.,

Series

A,

3.10%,

5/15/2025

30,000

32,796

Xcel

Energy,

Inc.,

3.30%,

6/01/2025

30,000

32,972

1,490,230

Total

Corporate

Bonds

(cost

$27,512,089)

28,116,478

Investment

Companies

–

1.1%

Shares

Registered

Investment

Companies

–

1.1%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$306,188)

306,188

306,188

Investment

of

Cash

Collateral

for

Securities

Loaned

–

0.4%

Registered

Investment

Companies

–

0.4%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

d,e

(cost

$109,920)

109,920

109,920

Total

Investments

(cost

$27,928,197)

100.5%

28,532,586

Liabilities,

Less

Cash

and

Receivables

(0.5)%

(152,959)

Net

Assets

100.0%

28,379,627

78

STATEMENT

OF

INVESTMENTS

(continued)

a

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

October

31,

2020,

these

securities

were

valued

at

$557,637

or

1.96%

of

net

asset.

b

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$208,552

and

the

value

of

the

collateral

was

$215,118,

consisting

of

cash

collateral

of

$109,920

and

U.S.

Government

&

Agency

securities

valued

at

$105,198.

c

Step

coupon

bond.

The

interest

rate

represents

the

coupon

rate

at

which

the

bond

will

accrue

at

a

specified

future

date.

d

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

e

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

See

Notes

to

Financial

Statements

Description

Value

4/24/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

2,427,578

(2,121,390)

—

—

306,188

1.1

82

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

987,721

(877,801)

—

—

109,920

0.4

456

2

Total

—

3,415,299

(2,999,191)

—

—

416,108

1.5

538

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Financial

41.9

Consumer,

Non-cyclical

15.2

Technology

8.2

Industrial

7.8

Energy

7.5

Consumer,

Cyclical

6.8

Utilities

5.2

Communications

5.2

Registered

Investment

Companies

1.5

Basic

Materials

1.2

100.5

†

Based

on

net

assets.

79

STATEMENT

OF

INVESTMENTS

October

31,

2020

BNY

Mellon

High

Yield

Beta

ETF

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

Basic

Materials

–

4.9%

Alcoa

Nederland

Holding

BV

6.75%,

9/30/2024

a

10,000

10,313

5.50%,

12/15/2027

a

10,000

10,556

Allegheny

Technologies,

Inc.

7.88%,

8/15/2023

25,000

25,272

5.88%,

12/01/2027

b

18,000

16,927

Arcelormittal

SA

4.55%,

3/11/2026

25,000

26,881

4.25%,

7/16/2029

45,000

47,460

7.25%,

10/15/2039

25,000

30,540

7.00%,

3/01/2041

30,000

36,171

ArcelorMittal

SA,

3.60%,

7/16/2024

55,000

57,120

Arconic

Corp.

6.00%,

5/15/2025

a

40,000

42,322

6.13%,

2/15/2028

a

35,000

36,880

Aruba

Investments,

Inc.,

8.75%,

2/15/2023

a

5,000

5,074

Ashland

LLC

4.75%,

8/15/2022

10,000

10,512

6.88%,

5/15/2043

30,000

38,558

Baffinland

Iron

Mines

Corp.

/

Baffinland

Iron

Mines

LP,

8.75%,

7/15/2026

a

65,000

68,362

Blue

Cube

Spinco

LLC

9.75%,

10/15/2023

3,000

3,086

10.00%,

10/15/2025

5,000

5,277

Carpenter

Technology

Corp.

4.45%,

3/01/2023

25,000

25,799

6.38%,

7/15/2028

35,000

36,726

CF

Industries,

Inc.

3.45%,

6/01/2023

40,000

40,894

5.15%,

3/15/2034

35,000

41,058

Chemours

Co.

(The)

6.63%,

5/15/2023

20,000

19,925

7.00%,

5/15/2025

b

45,000

45,369

5.38%,

5/15/2027

b

33,000

32,429

Clearwater

Paper

Corp.,

4.75%,

8/15/2028

a

25,000

25,246

Cleveland-Cliffs,

Inc.

4.88%,

1/15/2024

a

10,000

10,006

5.75%,

3/01/2025

13,000

12,560

9.88%,

10/17/2025

a

45,000

51,455

6.75%,

3/15/2026

a

25,000

26,241

5.88%,

6/01/2027

15,000

14,548

6.25%,

10/01/2040

12,000

10,209

Commercial

Metals

Co.

4.88%,

5/15/2023

15,000

15,683

5.75%,

4/15/2026

15,000

15,538

5.38%,

7/15/2027

5,000

5,219

Compass

Minerals

International,

Inc.,

4.88%,

7/15/2024

a

57,000

58,331

Constellium

SE,

5.75%,

5/15/2024

a

36,000

36,448

Cornerstone

Chemical

Co.,

6.75%,

8/15/2024

a

20,000

18,801

CVR

Partners

LP

/

CVR

Nitrogen

Finance

Corp.,

9.25%,

6/15/2023

a

15,000

13,832

FMG

Resources

(August

2006)

Pty

Ltd.

4.75%,

5/15/2022

a

15,000

15,351

5.13%,

3/15/2023

a

10,000

10,452

5.13%,

5/15/2024

a

54,000

57,749

4.50%,

9/15/2027

a

35,000

37,470

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Basic

Materials

–

4.9%

(continued)

Freeport-McMoRan,

Inc.

3.88%,

3/15/2023

25,000

25,768

4.55%,

11/14/2024

25,000

26,961

5.00%,

9/01/2027

40,000

41,724

4.13%,

3/01/2028

35,000

35,744

4.38%,

8/01/2028

45,000

46,875

5.25%,

9/01/2029

10,000

10,825

4.25%,

3/01/2030

40,000

41,925

4.63%,

8/01/2030

50,000

53,831

5.40%,

11/14/2034

25,000

28,525

5.45%,

3/15/2043

50,000

56,949

GCP

Applied

Technologies,

Inc.,

5.50%,

4/15/2026

a

12,000

12,308

HB

Fuller

Co.,

4.25%,

10/15/2028

50,000

51,014

Hecla

Mining

Co.,

7.25%,

2/15/2028

12,000

12,900

Hexion

,

Inc.,

7.88%,

7/15/2027

a

35,000

36,331

INEOS

Group

Holdings

SA,

5.63%,

8/01/2024

a

43,000

43,610

Infrabuild

Australia

Pty

Ltd.,

12.00%,

10/01/2024

a

5,000

4,956

Ingevity

Corp.,

4.50%,

2/01/2026

a

11,000

11,209

Innophos

Holdings,

Inc.,

9.38%,

2/15/2028

a

32,000

34,240

Joseph

T

Ryerson

&

Son,

Inc.,

8.50%,

8/01/2028

a

15,000

16,090

Kaiser

Aluminum

Corp.

6.50%,

5/01/2025

a

40,000

42,486

4.63%,

3/01/2028

a

43,000

42,671

Mercer

International,

Inc.

6.50%,

2/01/2024

7,000

7,035

7.38%,

1/15/2025

20,000

20,325

5.50%,

1/15/2026

10,000

9,525

Methanex

Corp.

4.25%,

12/01/2024

30,000

30,214

5.25%,

12/15/2029

40,000

40,509

5.65%,

12/01/2044

25,000

23,997

Mineral

Resources

Ltd.,

8.13%,

5/01/2027

a

35,000

38,200

Neon

Holdings,

Inc.,

10.13%,

4/01/2026

a

15,000

16,004

New

Gold,

Inc.,

6.38%,

5/15/2025

a

11,000

11,404

Novelis

Corp.

5.88%,

9/30/2026

a

55,000

56,757

4.75%,

1/30/2030

a

78,000

79,106

Nufarm

Australia

Ltd.

/

Nufarm

Americas,

Inc.,

5.75%,

4/30/2026

a

20,000

20,248

OCI

NV,

5.25%,

11/01/2024

a

30,000

30,691

Olin

Corp.

5.50%,

8/15/2022

5,000

5,135

5.13%,

9/15/2027

11,000

11,258

5.63%,

8/01/2029

23,000

23,746

5.00%,

2/01/2030

15,000

15,111

PQ

Corp.,

5.75%,

12/15/2025

a

30,000

30,952

Rain

CII

Carbon

LLC

/

CII

Carbon

Corp.,

7.25%,

4/01/2025

a

17,000

16,803

Rayonier

Am

Products,

Inc.,

5.50%,

6/01/2024

a

10,000

7,299

Resolute

Forest

Products,

Inc.,

5.88%,

5/15/2023

7,000

6,930

Schweitzer-Mauduit

International,

Inc.,

6.88%,

10/01/2026

a

37,000

39,017

Smurfit

Kappa

Treasury

Funding

DAC,

7.50%,

11/20/2025

20,000

24,012

TPC

Group,

Inc.,

10.50%,

8/01/2024

a

40,000

34,007

80

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Basic

Materials

–

4.9%

(continued)

Trinseo

Materials

Operating

SCA

/

Trinseo

Materials

Finance,

Inc.,

5.38%,

9/01/2025

a

65,000

65,984

Tronox

Finance

PLC,

5.75%,

10/01/2025

a

18,000

17,973

U.S.

Steel

Corp.

12.00%,

6/01/2025

a

50,000

55,493

6.88%,

8/15/2025

45,000

35,723

6.25%,

3/15/2026

20,000

15,262

6.65%,

6/01/2037

10,000

6,934

Valvoline,

Inc.,

4.25%,

2/15/2030

a

25,000

25,522

WR

Grace

&

Co.-Conn,

5.63%,

10/01/2024

a

11,000

11,854

2,658,622

Communications

–

16.9%

Altice

Financing

SA

7.50%,

5/15/2026

a

80,000

83,505

5.00%,

1/15/2028

a

50,000

48,512

Altice

France

Holding

SA

10.50%,

5/15/2027

a

50,000

55,125

6.00%,

2/15/2028

a

55,000

52,759

Altice

France

SA

7.38%,

5/01/2026

a

225,000

234,895

8.13%,

2/01/2027

a

55,000

59,885

5.50%,

1/15/2028

a

57,000

57,392

AMC

Networks,

Inc.

5.00%,

4/01/2024

20,000

20,098

4.75%,

8/01/2025

b

27,000

27,024

Belo

Corp.

7.75%,

6/01/2027

23,000

25,934

7.25%,

9/15/2027

5,000

5,559

Block

Communications,

Inc.,

4.88%,

3/01/2028

a

15,000

15,375

C&W

Senior

Financing

Dac

,

6.88%,

9/15/2027

a

50,000

53,114

CCO

Holdings

LLC

/

CCO

Holdings

Capital

Corp.

5.75%,

2/15/2026

a

90,000

93,290

5.50%,

5/01/2026

a

65,000

67,600

5.13%,

5/01/2027

a

150,000

157,525

5.88%,

5/01/2027

a

30,000

31,302

5.00%,

2/01/2028

a

90,000

94,500

5.38%,

6/01/2029

a

65,000

70,102

4.75%,

3/01/2030

a

125,000

131,411

4.50%,

8/15/2030

a

95,000

98,709

4.25%,

2/01/2031

a

140,000

143,668

4.50%,

5/01/2032

a

120,000

124,077

Centurylink

,

Inc.

5.63%,

4/01/2025

15,000

15,754

Series

G,

6.88%,

1/15/2028

15,000

16,667

CenturyLink,

Inc.

Series

T,

5.80%,

3/15/2022

35,000

36,398

Series

W,

6.75%,

12/01/2023

24,000

26,236

Series

Y,

7.50%,

4/01/2024

57,000

62,828

5.13%,

12/15/2026

a

16,000

16,361

4.00%,

2/15/2027

a

61,000

62,364

Series

P,

7.60%,

9/15/2039

15,000

16,899

Series

U,

7.65%,

3/15/2042

40,000

44,066

Cincinnati

Bell,

Inc.

7.00%,

7/15/2024

a

15,000

15,461

8.00%,

10/15/2025

a

15,000

15,896

Clear

Channel

International

BV,

6.63%,

8/01/2025

a

20,000

20,382

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Communications

–

16.9%

(continued)

Clear

Channel

Worldwide

Holdings,

Inc.

9.25%,

2/15/2024

45,000

39,175

5.13%,

8/15/2027

a

41,000

40,145

Cogent

Communications

Group,

Inc.,

5.38%,

3/01/2022

a

15,000

15,313

CommScope

Technologies

LLC,

6.00%,

6/15/2025

a

31,000

30,742

Commscope

,

Inc.

5.50%,

3/01/2024

a

45,000

45,955

7.13%,

7/01/2028

a

35,000

35,182

CommScope

,

Inc.

6.00%,

3/01/2026

a

50,000

51,853

8.25%,

3/01/2027

a,b

11,000

11,390

Connect

Finco

Sarl

/

Connect

US

Finco

LLC,

6.75%,

10/01/2026

a

50,000

50,373

Consolidated

Communications,

Inc.,

6.50%,

10/01/2028

a

55,000

56,510

CSC

Holdings

LLC

6.75%,

11/15/2021

27,000

28,234

5.88%,

9/15/2022

22,000

23,279

5.25%,

6/01/2024

25,000

26,718

5.50%,

5/15/2026

a

52,000

54,094

5.50%,

4/15/2027

a

55,000

57,951

5.38%,

2/01/2028

a

26,000

27,610

7.50%,

4/01/2028

a

45,000

49,292

6.50%,

2/01/2029

a

75,000

83,225

5.75%,

1/15/2030

a

100,000

106,849

4.13%,

12/01/2030

a

25,000

25,392

4.63%,

12/01/2030

a

90,000

89,906

Cumulus

Media

New

Holdings,

Inc.,

6.75%,

7/01/2026

a

71,000

65,978

Diamond

Sports

Group

LLC

/

Diamond

Sports

Finance

Co.

5.38%,

8/15/2026

a

105,000

61,438

6.63%,

8/15/2027

a,b

60,000

24,951

DISH

DBS

Corp.

5.88%,

7/15/2022

68,000

69,954

5.00%,

3/15/2023

52,000

52,407

5.88%,

11/15/2024

89,000

89,571

7.75%,

7/01/2026

60,000

63,630

DKT

Finance

ApS

,

9.38%,

6/17/2023

a

20,000

20,524

EIG

Investors

Corp.,

10.88%,

2/01/2024

27,000

28,028

Embarq

Corp.,

8.00%,

6/01/2036

52,000

60,840

Entercom

Media

Corp.

7.25%,

11/01/2024

a,b

46,000

38,811

6.50%,

5/01/2027

a

11,000

9,580

EW

Scripps

Co.

(The),

5.13%,

5/15/2025

a

10,000

9,550

Getty

Images,

Inc.,

9.75%,

3/01/2027

a

15,000

15,222

Go

Daddy

Operating

Co.

LLC

/

GD

Finance

Co.,

Inc.,

5.25%,

12/01/2027

a

32,000

33,563

Gogo

Intermediate

Holdings

LLC

/

Gogo

Finance

Co.,

Inc.,

9.88%,

5/01/2024

a

41,000

43,163

Gray

Television,

Inc.

5.88%,

7/15/2026

a

22,000

22,897

7.00%,

5/15/2027

a

30,000

32,313

Hughes

Satellite

Systems

Corp.

5.25%,

8/01/2026

40,000

42,922

6.63%,

8/01/2026

20,000

21,705

81

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Communications

–

16.9%

(continued)

iHeartCommunications

,

Inc.

6.38%,

5/01/2026

45,000

46,874

8.38%,

5/01/2027

70,000

68,266

Iheartcommunications

,

Inc.

5.25%,

8/15/2027

a

20,000

19,749

4.75%,

1/15/2028

a

50,000

48,044

Intrado

Corp.,

8.50%,

10/15/2025

a

35,000

31,494

Lamar

Media

Corp.,

5.75%,

2/01/2026

23,000

23,793

LCPR

Senior

Secured

Financing

DAC,

6.75%,

10/15/2027

a

100,000

106,218

Level

3

Financing,

Inc.

5.25%,

3/15/2026

55,000

56,802

4.63%,

9/15/2027

a

50,000

51,104

4.25%,

7/01/2028

a

40,000

40,206

Liberty

Interactive

LLC

8.50%,

7/15/2029

5,000

5,391

8.25%,

2/01/2030

45,000

48,691

Ligado

Networks

LLC,

15.50%,

11/01/2023

a,c

105,000

99,562

LogMeIn,

Inc.,

5.50%,

9/01/2027

a

60,000

60,830

Match

Group,

Inc.

5.00%,

12/15/2027

a

13,000

13,537

5.63%,

2/15/2029

a

5,000

5,391

4.13%,

8/01/2030

a

25,000

25,566

MDC

Partners,

Inc.,

6.50%,

5/01/2024

a

13,000

12,544

Meredith

Corp.

6.50%,

7/01/2025

a

10,000

10,313

6.88%,

2/01/2026

45,000

37,302

Midcontinent

Communications

/

Midcontinent

Finance

Corp.,

5.38%,

8/15/2027

a

60,000

62,427

National

CineMedia

LLC,

5.88%,

4/15/2028

a

25,000

17,438

Netflix,

Inc.

5.50%,

2/15/2022

55,000

57,797

5.88%,

2/15/2025

100,000

112,934

4.38%,

11/15/2026

30,000

32,582

4.88%,

4/15/2028

45,000

50,602

5.88%,

11/15/2028

90,000

107,556

6.38%,

5/15/2029

65,000

80,071

5.38%,

11/15/2029

a

40,000

46,908

4.88%,

6/15/2030

a

61,000

69,657

Nexstar

Broadcasting,

Inc.,

5.63%,

7/15/2027

a

80,000

83,416

Nokia

OYJ

3.38%,

6/12/2022

13,000

13,269

4.38%,

6/12/2027

33,000

35,496

6.63%,

5/15/2039

25,000

31,520

NortonLifeLock

,

Inc.

3.95%,

6/15/2022

20,000

20,555

5.00%,

4/15/2025

a

25,000

25,465

ORBCOMM,

Inc.,

8.00%,

4/01/2024

a

7,000

7,105

Outfront

Media

Capital

LLC

/

Outfront

Media

Capital

Corp.

5.63%,

2/15/2024

3,000

3,054

5.00%,

8/15/2027

a

10,000

9,476

4.63%,

3/15/2030

a

45,000

41,344

Photo

Holdings

Merger

Sub,

Inc.,

8.50%,

10/01/2026

a

50,000

46,500

Plantronics,

Inc.,

5.50%,

5/31/2023

a

12,000

11,587

Qualitytech

LP

/

QTS

Finance

Corp.,

4.75%,

11/15/2025

a

43,000

44,548

Quebecor

Media,

Inc.,

5.75%,

1/15/2023

50,000

53,750

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Communications

–

16.9%

(continued)

Qwest

Corp.,

7.25%,

9/15/2025

10,000

11,476

Salem

Media

Group,

Inc.,

6.75%,

6/01/2024

a

40,000

34,900

Scripps

Escrow,

Inc.,

5.88%,

7/15/2027

a

45,000

43,653

Sinclair

Television

Group,

Inc.

5.63%,

8/01/2024

a

36,000

35,973

5.88%,

3/15/2026

a

7,000

6,924

5.13%,

2/15/2027

a

11,000

10,355

5.50%,

3/01/2030

a

21,000

19,759

Sirius

XM

Radio,

Inc.

3.88%,

8/01/2022

a

25,000

25,227

4.63%,

7/15/2024

a

75,000

77,342

5.38%,

7/15/2026

a

25,000

26,045

5.00%,

8/01/2027

a

40,000

41,881

5.50%,

7/01/2029

a

85,000

92,494

4.13%,

7/01/2030

a

70,000

71,965

Sprint

Capital

Corp.

6.88%,

11/15/2028

84,000

106,279

8.75%,

3/15/2032

85,000

127,188

Sprint

Communications,

Inc.

11.50%,

11/15/2021

25,000

27,278

6.00%,

11/15/2022

79,000

84,493

Sprint

Corp.

7.88%,

9/15/2023

130,000

148,168

7.13%,

6/15/2024

105,000

120,788

7.63%,

2/15/2025

40,000

47,242

7.63%,

3/01/2026

40,000

48,657

TEGNA,

Inc.

5.50%,

9/15/2024

a

2,000

2,039

4.63%,

3/15/2028

a

43,000

42,470

5.00%,

9/15/2029

51,000

51,630

Telecom

Italia

Capital

SA

6.38%,

11/15/2033

30,000

35,589

6.00%,

9/30/2034

50,000

58,293

7.20%,

7/18/2036

20,000

25,293

7.72%,

6/04/2038

10,000

13,586

Telecom

Italia

SpA

,

5.30%,

5/30/2024

a

75,000

80,883

Telefonaktiebolaget

LM

Ericsson,

4.13%,

5/15/2022

25,000

25,936

Telesat

Canada

/

Telesat

LLC

4.88%,

6/01/2027

a

13,000

13,245

6.50%,

10/15/2027

a

20,000

19,949

Terrier

Media

Buyer,

Inc.,

8.88%,

12/15/2027

a

50,000

51,157

T-Mobile

USA,

Inc.

4.00%,

4/15/2022

15,000

15,502

6.00%,

3/01/2023

30,000

30,026

6.00%,

4/15/2024

25,000

25,439

6.50%,

1/15/2026

45,000

46,876

4.50%,

2/01/2026

30,000

30,735

5.38%,

4/15/2027

35,000

37,360

4.75%,

2/01/2028

75,000

80,398

Townsquare

Media,

Inc.,

6.50%,

4/01/2023

a

17,000

15,912

Trilogy

International

Partners

LLC

/

Trilogy

International

Finance,

Inc.,

8.88%,

5/01/2022

a

40,000

36,585

Tripadvisor

,

Inc.,

7.00%,

7/15/2025

a

15,000

15,600

Twitter,

Inc.,

3.88%,

12/15/2027

a

40,000

41,980

U.S.

Cellular

Corp.,

6.70%,

12/15/2033

10,000

13,186

82

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Communications

–

16.9%

(continued)

Uber

Technologies,

Inc.

7.50%,

5/15/2025

a

40,000

42,037

8.00%,

11/01/2026

a

60,000

63,189

7.50%,

9/15/2027

a

87,000

90,909

Univision

Communications,

Inc.

5.13%,

2/15/2025

a

38,000

37,353

9.50%,

5/01/2025

a

15,000

16,382

6.63%,

6/01/2027

a

50,000

50,494

UPC

Holding

BV,

5.50%,

1/15/2028

a

50,000

51,717

Veon

Holdings

BV,

4.00%,

4/09/2025

a

75,000

78,242

VeriSign,

Inc.

5.25%,

4/01/2025

36,000

40,367

4.75%,

7/15/2027

65,000

68,783

ViacomCBS

,

Inc.

5.88%,

2/28/2057

26,000

26,287

6.25%,

2/28/2057

47,000

51,089

ViaSat

,

Inc.

5.63%,

9/15/2025

a

70,000

70,432

5.63%,

4/15/2027

a

7,000

7,334

6.50%,

7/15/2028

a

40,000

41,255

Videotron

Ltd.

5.00%,

7/15/2022

47,000

49,228

5.38%,

6/15/2024

a

20,000

21,880

5.13%,

4/15/2027

a

50,000

52,876

Virgin

Media

Secured

Finance

PLC

5.50%,

8/15/2026

a

55,000

57,220

5.50%,

5/15/2029

a

55,000

58,791

4.50%,

8/15/2030

a

25,000

25,514

Vodafone

Group

PLC,

7.00%,

4/04/2079

70,000

83,018

Windstream

Escrow

LLC

/

Windstream

Escrow

Finance

Corp.,

7.75%,

8/15/2028

a

70,000

67,537

Zayo

Group

Holdings,

Inc.

4.00%,

3/01/2027

a

56,000

54,952

6.13%,

3/01/2028

a

58,000

58,714

Ziggo

Bond

Co.

BV,

6.00%,

1/15/2027

a

25,000

25,955

Ziggo

BV

5.50%,

1/15/2027

a

55,000

57,067

4.88%,

1/15/2030

a

30,000

31,127

9,131,147

Consumer,

Cyclical

–

20.9%

1011778

BC

ULC

/

New

Red

Finance,

Inc.

4.25%,

5/15/2024

a

40,000

40,819

5.75%,

4/15/2025

a

35,000

37,322

5.00%,

10/15/2025

a

59,000

60,473

3.88%,

1/15/2028

a

45,000

45,692

4.00%,

10/15/2030

a

310,000

308,110

Adient

Global

Holdings

Ltd.,

4.88%,

8/15/2026

a

25,000

23,949

Adient

US

LLC

9.00%,

4/15/2025

a

15,000

16,491

7.00%,

5/15/2026

a

7,000

7,469

Allen

Media

LLC

/

Allen

Media

Co.-Issuer,

Inc.,

10.50%,

2/15/2028

a

5,000

4,863

Allison

Transmission,

Inc.

4.75%,

10/01/2027

a

30,000

31,076

5.88%,

6/01/2029

a,b

25,000

27,340

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

American

Airlines

Group,

Inc.

5.00%,

6/01/2022

a

45,000

29,229

3.75%,

3/01/2025

a

7,000

3,470

American

Airlines

Pass-Through

Trust

Series

2013-2,

,

Class

A4.95%,

7/15/2024

42,467

36,696

Series

2013-1,

,

Class

A4.00%,

7/15/2025

24,513

18,521

Series

2014-1,

,

Class

A3.70%,

10/01/2026

33,853

26,404

Series

2015-1,

,

Class

A3.38%,

5/01/2027

39,982

29,896

Series

2016-1,

,

Class

A4.10%,

1/15/2028

28,328

21,149

Series

2016-2,

,

Class

A3.65%,

6/15/2028

29,120

21,624

American

Airlines,

Inc.,

11.75%,

7/15/2025

a

65,000

63,239

American

Axle

&

Manufacturing,

Inc.

6.25%,

4/01/2025

b

15,000

15,189

6.25%,

3/15/2026

15,000

15,036

6.88%,

7/01/2028

b

15,000

15,244

American

Builders

&

Contractors

Supply

Co.,

Inc.

5.88%,

5/15/2026

a

20,000

20,777

4.00%,

1/15/2028

a

15,000

15,253

Aramark

Services,

Inc.

5.00%,

4/01/2025

a,b

30,000

30,449

6.38%,

5/01/2025

a,b

45,000

47,227

5.00%,

2/01/2028

a,b

86,000

86,808

Arrow

Bidco

LLC,

9.50%,

3/15/2024

a

10,000

8,341

Asbury

Automotive

Group,

Inc.

4.50%,

3/01/2028

a

30,000

30,358

4.75%,

3/01/2030

a

11,000

11,349

Ashton

Woods

USA

LLC

/

Ashton

Woods

Finance

Co.

6.75%,

8/01/2025

a

55,000

56,631

9.88%,

4/01/2027

a

55,000

61,469

6.63%,

1/15/2028

a

25,000

25,256

Aston

Martin

Capital

Holdings

Ltd.,

6.50%,

4/15/2022

a

20,000

20,148

Avient

Corp.,

5.25%,

3/15/2023

23,000

24,709

Beacon

Roofing

Supply,

Inc.

4.88%,

11/01/2025

a

32,000

31,399

4.50%,

11/15/2026

a

13,000

13,345

Beazer

Homes

USA,

Inc.,

5.88%,

10/15/2027

10,000

10,199

Bed

Bath

&

Beyond,

Inc.

3.75%,

8/01/2024

b

27,000

26,060

4.92%,

8/01/2034

4,000

3,334

5.17%,

8/01/2044

30,000

24,488

Boyd

Gaming

Corp.

8.63%,

6/01/2025

a

10,000

10,939

6.38%,

4/01/2026

5,000

5,185

6.00%,

8/15/2026

40,000

41,060

4.75%,

12/01/2027

35,000

34,015

Boyne

USA,

Inc.,

7.25%,

5/01/2025

a

15,000

15,675

Brinker

International,

Inc.

3.88%,

5/15/2023

10,000

9,731

5.00%,

10/01/2024

a

10,000

10,024

Brookfield

Residential

Properties,

Inc.

/

Brookfield

Residential

US

Corp.

6.38%,

5/15/2025

a

15,000

15,254

4.88%,

2/15/2030

a

10,000

9,502

Buena

Vista

Gaming

Authority,

13.00%,

4/01/2023

a

20,000

21,213

Burlington

Coat

Factory

Warehouse

Corp.,

6.25%,

4/15/2025

a

20,000

21,014

83

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

Caesars

Resort

Collection

LLC

/

CRC

Finco

,

Inc.,

5.25%,

10/15/2025

a

47,000

44,634

Caleres

,

Inc.,

6.25%,

8/15/2023

6,000

5,734

Carnival

Corp.

11.50%,

4/01/2023

a

135,000

148,581

10.50%,

2/01/2026

a

30,000

32,616

9.88%,

8/01/2027

a

50,000

52,006

6.65%,

1/15/2028

40,000

31,847

Cedar

Fair

LP,

5.25%,

7/15/2029

b

15,000

13,587

Cedar

Fair

LP

/

Canada's

Wonderland

Co.

/

Magnum

Management

Corp.,

5.38%,

6/01/2024

57,000

54,791

Cedar

Fair

LP

/

Canada's

Wonderland

Co.

/

Magnum

Management

Corp.

/

Millennium

Operations

LLC,

5.38%,

4/15/2027

50,000

46,294

Century

Communities,

Inc.

5.88%,

7/15/2025

37,000

38,112

6.75%,

6/01/2027

36,000

38,431

Churchill

Downs,

Inc.

5.50%,

4/01/2027

a

50,000

51,750

4.75%,

1/15/2028

a

35,000

35,492

Cinemark

USA,

Inc.

5.13%,

12/15/2022

10,000

8,675

4.88%,

6/01/2023

15,000

12,558

Clarios

Global

LP

/

Clarios

US

Finance

Co.

6.25%,

5/15/2026

a

55,000

57,250

8.50%,

5/15/2027

a

90,000

93,937

Colt

Merger

Sub,

Inc.

5.75%,

7/01/2025

a

30,000

30,772

6.25%,

7/01/2025

a

90,000

92,576

8.13%,

7/01/2027

a

60,000

62,664

Constellation

Merger

Sub,

Inc.,

8.50%,

9/15/2025

a

10,000

8,366

Cooper-Standard

Automotive,

Inc.,

5.63%,

11/15/2026

a

10,000

6,700

Core

&

Main

Holdings

LP,

8.63%,

9/15/2024

a,c

55,000

55,900

Core

&

Main

LP,

6.13%,

8/15/2025

a

25,000

25,573

Dana

Financing

Luxembourg

Sarl

5.75%,

4/15/2025

a

7,000

7,245

6.50%,

6/01/2026

a

7,000

7,320

Dealer

Tire

LLC

/

Dt

Issuer

LLC,

8.00%,

2/01/2028

a

40,000

40,983

Delta

Air

Lines,

Inc.

3.63%,

3/15/2022

115,000

112,653

3.80%,

4/19/2023

20,000

19,071

2.90%,

10/28/2024

30,000

26,086

7.38%,

1/15/2026

50,000

51,462

4.38%,

4/19/2028

20,000

17,296

3.75%,

10/28/2029

25,000

20,935

Diamond

Resorts

International,

Inc.

7.75%,

9/01/2023

a

10,000

9,410

10.75%,

9/01/2024

a,b

10,000

9,078

Downstream

Development

Authority

of

The

Quapaw

Tribe

of

Oklahoma,

10.50%,

2/15/2023

a

5,000

4,610

eG

Global

Finance

PLC,

6.75%,

2/07/2025

a

22,000

21,562

Enterprise

Development

Authority

(The),

12.00%,

7/15/2024

a

15,000

16,638

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

Ferrellgas

LP

/

Ferrellgas

Finance

Corp.,

10.00%,

4/15/2025

a

30,000

32,705

Fiat

Chrysler

Automobiles

NV,

5.25%,

4/15/2023

37,000

39,341

FirstCash

,

Inc.,

4.63%,

9/01/2028

a

35,000

35,630

Ford

Holdings

LLC,

9.30%,

3/01/2030

15,000

18,204

Ford

Motor

Co.

8.50%,

4/21/2023

120,000

132,433

9.00%,

4/22/2025

155,000

182,608

4.35%,

12/08/2026

70,000

71,037

6.63%,

10/01/2028

50,000

56,034

6.38%,

2/01/2029

20,000

20,853

9.63%,

4/22/2030

b

25,000

33,418

7.45%,

7/16/2031

25,000

29,798

4.75%,

1/15/2043

50,000

46,162

7.40%,

11/01/2046

50,000

54,937

5.29%,

12/08/2046

75,000

71,330

9.98%,

2/15/2047

5,000

6,462

Ford

Motor

Credit

Co.

LLC

3.34%,

3/28/2022

50,000

49,877

2.98%,

8/03/2022

50,000

49,524

4.25%,

9/20/2022

10,000

10,140

3.55%,

10/07/2022

40,000

39,978

3.35%,

11/01/2022

40,000

39,833

3.09%,

1/09/2023

50,000

49,512

4.14%,

2/15/2023

10,000

10,100

3.10%,

5/04/2023

50,000

49,301

3.81%,

1/09/2024

50,000

49,944

5.58%,

3/18/2024

50,000

52,518

3.66%,

9/08/2024

10,000

9,909

4.06%,

11/01/2024

60,000

60,330

4.69%,

6/09/2025

40,000

40,939

5.13%,

6/16/2025

50,000

52,113

4.13%,

8/04/2025

50,000

49,953

4.39%,

1/08/2026

50,000

50,322

4.54%,

8/01/2026

25,000

25,354

4.27%,

1/09/2027

50,000

49,970

4.13%,

8/17/2027

75,000

73,898

3.82%,

11/02/2027

10,000

9,697

5.11%,

5/03/2029

90,000

93,473

Forestar

Group,

Inc.

8.00%,

4/15/2024

a

23,000

24,100

5.00%,

3/01/2028

a

5,000

4,960

Gamestop

Corp.,

10.00%,

3/15/2023

a

5,000

4,958

Gap,

Inc.

(The)

8.63%,

5/15/2025

a

36,000

39,728

8.88%,

5/15/2027

a

35,000

40,006

Gateway

Casinos

&

Entertainment

Ltd.,

8.25%,

3/01/2024

a

22,000

18,576

Golden

Nugget,

Inc.

6.75%,

10/15/2024

a

45,000

38,089

8.75%,

10/01/2025

a,b

20,000

16,207

Goodyear

Tire

&

Rubber

Co.

(The)

5.13%,

11/15/2023

25,000

24,848

9.50%,

5/31/2025

25,000

27,476

5.00%,

5/31/2026

50,000

49,275

4.88%,

3/15/2027

b

15,000

14,607

Guitar

Center,

Inc.,

9.50%,

10/15/2021

a,b,d

15,000

13,005

84

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

H&E

Equipment

Services,

Inc.,

5.63%,

9/01/2025

20,000

20,731

Hanesbrands,

Inc.

4.63%,

5/15/2024

a

23,000

23,963

5.38%,

5/15/2025

a

50,000

52,618

4.88%,

5/15/2026

a

50,000

53,781

Hilton

Domestic

Operating

Co.,

Inc.

4.25%,

9/01/2024

105,000

104,540

5.13%,

5/01/2026

85,000

86,487

4.88%,

1/15/2030

35,000

36,013

Hilton

Grand

Vacations

Borrower

LLC

/

Hilton

Grand

Vacations

Borrower,

Inc.,

6.13%,

12/01/2024

13,000

13,379

Hilton

Worldwide

Finance

LLC

/

Hilton

Worldwide

Finance

Corp.,

4.63%,

4/01/2025

40,000

40,361

IAA,

Inc.,

5.50%,

6/15/2027

a

42,000

44,084

IHO

Verwaltungs

GmbH

4.75%,

9/15/2026

a,c

25,000

25,243

6.00%,

5/15/2027

a,c

20,000

20,844

6.38%,

5/15/2029

a,b,c

25,000

26,566

Installed

Building

Products,

Inc.,

5.75%,

2/01/2028

a

40,000

42,101

International

Game

Technology

PLC

6.25%,

2/15/2022

a

20,000

20,487

6.50%,

2/15/2025

a

23,000

24,528

6.25%,

1/15/2027

a

23,000

24,432

5.25%,

1/15/2029

a

25,000

24,896

IRB

Holding

Corp.,

6.75%,

2/15/2026

a

25,000

25,205

Jacobs

Entertainment,

Inc.,

7.88%,

2/01/2024

a

20,000

19,605

Jaguar

Land

Rover

Automotive

PLC

5.63%,

2/01/2023

a

16,000

15,612

7.75%,

10/15/2025

a

75,000

75,933

JB

Poindexter

&

Co.,

Inc.,

7.13%,

4/15/2026

a

15,000

15,930

K

Hovnanian

Enterprises,

Inc.,

10.50%,

2/15/2026

a

10,000

9,739

KAR

Auction

Services,

Inc.,

5.13%,

6/01/2025

a

45,000

45,649

KB

Home

7.00%,

12/15/2021

11,000

11,460

7.50%,

9/15/2022

53,000

58,004

7.63%,

5/15/2023

21,000

23,125

6.88%,

6/15/2027

10,000

11,818

4.80%,

11/15/2029

11,000

11,887

KFC

Holding

Co/Pizza

Hut

Holdings

LLC/Taco

Bell

of

America

LLC,

5.25%,

6/01/2026

a

45,000

46,510

L

Brands,

Inc.

9.38%,

7/01/2025

a

15,000

17,407

6.69%,

1/15/2027

5,000

5,027

5.25%,

2/01/2028

45,000

44,275

7.50%,

6/15/2029

15,000

16,056

6.63%,

10/01/2030

a

40,000

41,974

6.95%,

3/01/2033

b

15,000

13,697

6.88%,

11/01/2035

55,000

55,918

6.75%,

7/01/2036

15,000

15,187

7.60%,

7/15/2037

4,000

3,811

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

Lennar

Corp.

5.38%,

10/01/2022

26,000

27,674

4.75%,

11/15/2022

25,000

26,291

4.88%,

12/15/2023

16,000

17,329

4.50%,

4/30/2024

50,000

53,932

4.75%,

5/30/2025

45,000

49,418

5.25%,

6/01/2026

30,000

34,064

5.00%,

6/15/2027

15,000

17,175

4.75%,

11/29/2027

30,000

34,224

Levi

Strauss

&

Co.,

5.00%,

5/01/2025

30,000

30,755

LGI

Homes,

Inc.,

6.88%,

7/15/2026

a

37,000

38,666

Lions

Gate

Capital

Holdings

LLC

6.38%,

2/01/2024

a

21,000

20,177

5.88%,

11/01/2024

a

28,000

26,439

Lithia

Motors,

Inc.,

4.63%,

12/15/2027

a

7,000

7,367

Live

Nation

Entertainment,

Inc.

4.88%,

11/01/2024

a

15,000

14,452

5.63%,

3/15/2026

a

11,000

10,424

6.50%,

5/15/2027

a

30,000

32,307

4.75%,

10/15/2027

a

25,000

23,058

LTF

Merger

Sub,

Inc.,

8.50%,

6/15/2023

a

15,000

13,652

M/I

Homes,

Inc.

5.63%,

8/01/2025

10,000

10,342

4.95%,

2/01/2028

8,000

8,333

Macy's

Retail

Holdings

LLC

4.38%,

9/01/2023

40,000

32,601

6.38%,

3/15/2037

5,000

3,048

4.30%,

2/15/2043

45,000

25,384

Macy's

Retail

Holdings,

Inc.

3.88%,

1/15/2022

b

15,000

14,173

2.88%,

2/15/2023

20,000

16,710

3.63%,

6/01/2024

b

40,000

31,022

5.13%,

1/15/2042

10,000

5,767

Marriott

Ownership

Resorts,

Inc.

/

ILG

LLC,

6.50%,

9/15/2026

35,000

36,035

Mattamy

Group

Corp.,

4.63%,

3/01/2030

a

23,000

23,499

Mattel,

Inc.

3.15%,

3/15/2023

87,000

86,958

6.75%,

12/31/2025

a

40,000

42,011

5.88%,

12/15/2027

a

20,000

21,725

6.20%,

10/01/2040

15,000

15,659

5.45%,

11/01/2041

20,000

20,167

MDC

Holdings,

Inc.,

6.00%,

1/15/2043

10,000

12,529

Melco

Resorts

Finance

Ltd.

5.75%,

7/21/2028

a

15,000

14,996

5.38%,

12/04/2029

a

40,000

38,617

Meritage

Homes

Corp.

7.00%,

4/01/2022

29,000

30,863

6.00%,

6/01/2025

12,000

13,499

Meritor,

Inc.

6.25%,

2/15/2024

12,000

12,216

6.25%,

6/01/2025

a

10,000

10,234

Merlin

Entertainments

Ltd.,

5.75%,

6/15/2026

a

25,000

23,320

MGM

China

Holdings

Ltd.,

5.38%,

5/15/2024

a

25,000

25,644

85

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

MGM

Resorts

International

7.75%,

3/15/2022

33,000

34,688

6.00%,

3/15/2023

23,000

23,922

6.75%,

5/01/2025

20,000

21,014

5.75%,

6/15/2025

40,000

41,593

5.50%,

4/15/2027

15,000

15,149

4.75%,

10/15/2028

75,000

73,476

Michael

Kors

USA,

Inc.,

4.50%,

11/01/2024

a

20,000

19,628

Michaels

Stores,

Inc.,

8.00%,

7/15/2027

a,b

15,000

15,454

Motion

Bondco

DAC,

6.63%,

11/15/2027

a,b

10,000

8,423

Murphy

Oil

USA,

Inc.

5.63%,

5/01/2027

27,000

28,473

4.75%,

9/15/2029

20,000

21,084

Navistar

International

Corp.

9.50%,

5/01/2025

a

20,000

22,153

6.63%,

11/01/2025

a

12,000

12,409

NCL

Corp.

Ltd.

12.25%,

5/15/2024

a

20,000

21,947

3.63%,

12/15/2024

a

10,000

6,897

10.25%,

2/01/2026

a

50,000

51,492

New

Home

Co.,

Inc.

(The),

7.25%,

4/01/2022

25,000

25,478

Newell

Brands,

Inc.

4.00%,

6/15/2022

5,000

5,172

4.35%,

4/01/2023

30,000

31,310

4.70%,

4/01/2026

40,000

42,616

5.88%,

4/01/2036

16,000

18,735

6.00%,

4/01/2046

51,000

60,395

Nordstrom,

Inc.

4.00%,

10/15/2021

30,000

29,833

4.00%,

3/15/2027

25,000

20,952

6.95%,

3/15/2028

20,000

18,814

4.38%,

4/01/2030

b

30,000

23,141

5.00%,

1/15/2044

50,000

35,369

Penn

National

Gaming,

Inc.,

5.63%,

1/15/2027

a

15,000

15,331

Penske

Automotive

Group,

Inc.

5.38%,

12/01/2024

55,000

56,097

5.50%,

5/15/2026

16,000

16,511

Performance

Food

Group,

Inc.

5.50%,

6/01/2024

a

15,000

15,070

5.50%,

10/15/2027

a

35,000

35,875

PetSmart,

Inc.

7.13%,

3/15/2023

a

45,000

44,254

5.88%,

6/01/2025

a

30,000

30,670

8.88%,

6/01/2025

a

40,000

40,343

Picasso

Finance

Sub,

Inc.,

6.13%,

6/15/2025

a

40,000

42,177

Powdr

Corp.,

6.00%,

8/01/2025

a

10,000

10,092

PulteGroup,

Inc.

5.50%,

3/01/2026

20,000

23,044

5.00%,

1/15/2027

45,000

51,484

7.88%,

6/15/2032

10,000

14,175

6.38%,

5/15/2033

11,000

14,041

6.00%,

2/15/2035

6,000

7,467

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

QVC,

Inc.

4.38%,

3/15/2023

55,000

56,981

4.85%,

4/01/2024

20,000

20,769

4.45%,

2/15/2025

20,000

20,651

4.75%,

2/15/2027

20,000

20,422

5.45%,

8/15/2034

15,000

14,747

5.95%,

3/15/2043

20,000

19,344

Resideo

Funding,

Inc.,

6.13%,

11/01/2026

a,b

60,000

58,176

Rite

AID

Corp.

7.50%,

7/01/2025

a

70,000

70,016

7.70%,

2/15/2027

10,000

7,725

Royal

Caribbean

Cruises

Ltd.

5.25%,

11/15/2022

55,000

49,155

10.88%,

6/01/2023

a

20,000

21,816

9.13%,

6/15/2023

a

25,000

26,032

11.50%,

6/01/2025

a

100,000

114,392

7.50%,

10/15/2027

15,000

13,017

3.70%,

3/15/2028

20,000

14,530

Sally

Holdings

LLC

/

Sally

Capital,

Inc.,

5.50%,

11/01/2023

b

52,000

51,980

Scientific

Games

International,

Inc.

5.00%,

10/15/2025

a

37,000

37,113

8.25%,

3/15/2026

a,b

25,000

25,375

7.00%,

5/15/2028

a

11,000

10,930

7.25%,

11/15/2029

a

10,000

9,914

Scotts

Miracle-GRO

Co.

(The),

5.25%,

12/15/2026

10,000

10,655

Seaworld

Parks

&

Entertainment,

Inc.,

9.50%,

8/01/2025

a

80,000

83,972

Shea

Homes

LP

/

Shea

Homes

Funding

Corp.,

4.75%,

2/15/2028

a

20,000

20,319

Silversea

Cruise

Finance

Ltd.,

7.25%,

2/01/2025

a

80,000

80,413

Six

Flags

Entertainment

Corp.

4.88%,

7/31/2024

a

55,000

51,104

5.50%,

4/15/2027

a,b

35,000

32,513

Six

Flags

Theme

Parks,

Inc.,

7.00%,

7/01/2025

a,b

35,000

37,060

Speedway

Motorsports

LLC

/

Speedway

Funding

II,

Inc.,

4.88%,

11/01/2027

a

11,000

10,479

Spirit

Loyalty

Cayman

Ltd.

/

Spirit

Ip

Cayman

Ltd.,

8.00%,

9/20/2025

a

45,000

47,708

SRS

Distribution,

Inc.,

8.25%,

7/01/2026

a,b

15,000

15,946

Staples,

Inc.

7.50%,

4/15/2026

a

75,000

70,037

10.75%,

4/15/2027

a

25,000

19,900

Stars

Group

Holdings

BV

/

Stars

Group

US

Co.-

Borrower

LLC,

7.00%,

7/15/2026

a

36,000

38,085

Station

Casinos

LLC

5.00%,

10/01/2025

a

25,000

24,868

4.50%,

2/15/2028

a

25,000

23,536

Studio

City

Finance

Ltd.

6.00%,

7/15/2025

a

10,000

10,056

6.50%,

1/15/2028

a

10,000

9,959

Suburban

Propane

Partners

LP/Suburban

Energy

Finance

Corp.

5.50%,

6/01/2024

12,000

12,130

5.75%,

3/01/2025

5,000

5,091

5.88%,

3/01/2027

20,000

20,662

86

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

Sugarhouse

HSP

Gaming

Prop

Mezz

LP

/

Sugarhouse

HSP

Gaming

Finance

Corp.,

5.88%,

5/15/2025

a

15,000

14,545

Superior

Plus

LP

/

Superior

General

Partner,

Inc.,

7.00%,

7/15/2026

a

15,000

16,045

Taylor

Morrison

Communities,

Inc.

6.63%,

7/15/2027

a

15,000

16,160

5.75%,

1/15/2028

a

15,000

16,602

5.13%,

8/01/2030

a

35,000

37,975

Taylor

Morrison

Communities,

Inc.

/

Taylor

Morrison

Holdings

II,

Inc.

5.88%,

4/15/2023

a

30,000

31,700

5.63%,

3/01/2024

a

13,000

13,791

Tempur

Sealy

International,

Inc.,

5.50%,

6/15/2026

35,000

36,352

Tenneco,

Inc.

5.38%,

12/15/2024

b

5,000

4,129

5.00%,

7/15/2026

10,000

7,763

Tesla,

Inc.,

5.30%,

8/15/2025

a

60,000

62,081

Titan

International,

Inc.,

6.50%,

11/30/2023

5,000

3,856

Toll

Brothers

Finance

Corp.

5.88%,

2/15/2022

7,000

7,281

4.38%,

4/15/2023

30,000

31,453

5.63%,

1/15/2024

7,000

7,670

4.88%,

3/15/2027

13,000

14,683

TRI

Pointe

Group,

Inc.

5.25%,

6/01/2027

15,000

16,139

5.70%,

6/15/2028

11,000

12,186

TRI

Pointe

Group,

Inc.

/

TRI

Pointe

Homes,

Inc.,

5.88%,

6/15/2024

15,000

16,257

Truck

Hero,

Inc.,

8.50%,

4/21/2024

a

15,000

15,829

UAL

Pass-Through

Trust,

Series

2007-1,

Class

A,

6.64%,

1/02/2024

14,217

13,211

Under

Armour

,

Inc.,

3.25%,

6/15/2026

20,000

19,351

United

Airlines

Holdings,

Inc.

4.25%,

10/01/2022

10,000

9,093

5.00%,

2/01/2024

b

10,000

8,749

4.88%,

1/15/2025

10,000

8,395

Univar

Solutions

USA,

Inc.,

5.13%,

12/01/2027

a

35,000

36,282

Viking

Cruises

Ltd.

6.25%,

5/15/2025

a

10,000

7,723

13.00%,

5/15/2025

a

45,000

50,800

5.88%,

9/15/2027

a

30,000

23,170

Vista

Outdoor,

Inc.,

5.88%,

10/01/2023

25,000

25,145

VOC

Escrow

Ltd.,

5.00%,

2/15/2028

a

25,000

21,676

Wabash

National

Corp.,

5.50%,

10/01/2025

a

8,000

8,040

William

Carter

Co.

(The),

5.63%,

3/15/2027

a

45,000

47,215

Winnebago

Industries,

Inc.,

6.25%,

7/15/2028

a

10,000

10,617

WMG

Acquisition

Corp.

5.50%,

4/15/2026

a

15,000

15,562

3.88%,

7/15/2030

a

35,000

35,227

3.00%,

2/15/2031

a

30,000

28,664

Wolverine

Escrow

LLC

8.50%,

11/15/2024

a

20,000

15,577

9.00%,

11/15/2026

a

30,000

22,893

13.13%,

11/15/2027

a

20,000

13,802

Wolverine

World

Wide,

Inc.,

6.38%,

5/15/2025

a

40,000

42,556

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Cyclical

–

20.9%

(continued)

Wyndham

Destinations,

Inc.

4.25%,

3/01/2022

17,000

17,083

3.90%,

3/01/2023

10,000

9,885

5.65%,

4/01/2024

7,000

7,152

6.60%,

10/01/2025

10,000

10,650

6.63%,

7/31/2026

a

25,000

26,606

6.00%,

4/01/2027

11,000

11,426

4.63%,

3/01/2030

a

12,000

11,698

Wyndham

Hotels

&

Resorts,

Inc.

5.38%,

4/15/2026

a

21,000

21,526

4.38%,

8/15/2028

a

35,000

34,788

Wynn

Las

Vegas

LLC

/

Wynn

Las

Vegas

Capital

Corp.

4.25%,

5/30/2023

a

70,000

66,737

5.50%,

3/01/2025

a

45,000

43,073

5.25%,

5/15/2027

a

25,000

23,244

Wynn

Macau

Ltd.

5.50%,

1/15/2026

a

45,000

43,659

5.13%,

12/15/2029

a

50,000

46,345

Wynn

Resorts

Finance

LLC

/

Wynn

Resorts

Capital

Corp.,

5.13%,

10/01/2029

a

20,000

19,211

Yum!

Brands,

Inc.

3.88%,

11/01/2023

37,000

38,505

7.75%,

4/01/2025

a

35,000

38,439

4.75%,

1/15/2030

a

25,000

26,907

6.88%,

11/15/2037

5,000

6,048

5.35%,

11/01/2043

5,000

5,370

ZF

North

America

Capital,

Inc.

4.50%,

4/29/2022

a

20,000

20,592

4.75%,

4/29/2025

a

27,000

27,886

11,275,720

Consumer,

Non-cyclical

–

16.5%

Acadia

Healthcare

Co.,

Inc.

5.63%,

2/15/2023

15,000

15,099

5.50%,

7/01/2028

a

30,000

31,351

5.00%,

4/15/2029

a

40,000

41,303

Adapthealth

LLC,

6.13%,

8/01/2028

a

10,000

10,415

ADT

Security

Corp.

(The)

3.50%,

7/15/2022

55,000

55,947

4.13%,

6/15/2023

23,000

23,907

4.88%,

7/15/2032

a

15,000

15,444

Ahern

Rentals,

Inc.,

7.38%,

5/15/2023

a

25,000

16,089

AHP

Health

Partners,

Inc.,

9.75%,

7/15/2026

a

20,000

21,147

Air

Methods

Corp.,

8.00%,

5/15/2025

a,b

15,000

11,085

Albertsons

Cos.,

Inc.

/

Safeway,

Inc.

/

New

Albertsons

LP

/

Albertsons

LLC

3.50%,

2/15/2023

a

25,000

25,400

5.75%,

3/15/2025

40,000

41,331

7.50%,

3/15/2026

a

43,000

47,584

4.63%,

1/15/2027

a

35,000

36,096

4.88%,

2/15/2030

a

55,000

58,392

Algeco

Global

Finance

PLC,

8.00%,

2/15/2023

a

20,000

20,041

Allied

Universal

Holdco

LLC

/

Allied

Universal

Finance

Corp.

6.63%,

7/15/2026

a

90,000

94,254

9.75%,

7/15/2027

a

28,000

29,943

AMN

Healthcare,

Inc.

5.13%,

10/01/2024

a

35,000

35,897

4.63%,

10/01/2027

a

15,000

15,338

87

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Non-cyclical

–

16.5%

(continued)

Aptim

Corp.,

7.75%,

6/15/2025

a,b

15,000

9,195

APX

Group,

Inc.

7.88%,

12/01/2022

20,000

19,973

7.63%,

9/01/2023

b

65,000

65,526

6.75%,

2/15/2027

a

20,000

20,945

ASGN,

Inc.,

4.63%,

5/15/2028

a

40,000

41,146

Atento

Luxco

1

SA,

6.13%,

8/10/2022

a

15,000

13,797

Avantor

Funding,

Inc.,

4.63%,

7/15/2028

a

55,000

56,944

Avis

Budget

Car

Rental

LLC

/

Avis

Budget

Finance,

Inc.

6.38%,

4/01/2024

a,b

10,000

9,750

5.25%,

3/15/2025

a

31,000

29,541

5.75%,

7/15/2027

a

30,000

28,214

Avon

International

Capital

PLC,

6.50%,

8/15/2022

a

33,000

33,650

Avon

International

Operations,

Inc.,

7.88%,

8/15/2022

a

25,000

25,492

Avon

Products,

Inc.,

7.00%,

3/15/2023

b

33,000

35,494

B&G

Foods,

Inc.,

5.25%,

9/15/2027

32,000

33,158

Bausch

Health

Americas,

Inc.

9.25%,

4/01/2026

a

73,000

80,478

8.50%,

1/31/2027

a

80,000

87,419

Bausch

Health

Cos.,

Inc.

5.50%,

3/01/2023

a

10,000

10,001

5.88%,

5/15/2023

a

4,000

4,001

7.00%,

3/15/2024

a

45,000

46,627

6.13%,

4/15/2025

a

110,000

112,870

5.50%,

11/01/2025

a

30,000

30,798

9.00%,

12/15/2025

a

45,000

49,162

7.00%,

1/15/2028

a

28,000

29,681

5.00%,

1/30/2028

a

65,000

64,194

6.25%,

2/15/2029

a

55,000

56,665

7.25%,

5/30/2029

a

27,000

29,049

5.25%,

1/30/2030

a

65,000

64,057

Brink's

Co.

(The)

5.50%,

7/15/2025

a

20,000

20,779

4.63%,

10/15/2027

a

70,000

71,791

Capitol

Investment

Merger

Sub

2

LLC,

10.00%,

8/01/2024

a

15,000

16,058

Cardtronics

,

Inc.

/

Cardtronics

USA,

Inc.,

5.50%,

5/01/2025

a,b

22,000

22,193

Carriage

Services,

Inc.,

6.63%,

6/01/2026

a

10,000

10,507

Catalent

Pharma

Solutions,

Inc.

4.88%,

1/15/2026

a

15,000

15,325

5.00%,

7/15/2027

a

20,000

20,919

Centene

Corp.

4.75%,

1/15/2025

45,000

46,254

5.38%,

6/01/2026

a

70,000

73,613

5.38%,

8/15/2026

a

50,000

52,888

4.25%,

12/15/2027

110,000

115,753

4.63%,

12/15/2029

140,000

152,423

3.38%,

2/15/2030

75,000

77,746

Central

Garden

&

Pet

Co.

6.13%,

11/15/2023

7,000

7,113

5.13%,

2/01/2028

5,000

5,301

Charles

River

Laboratories

International,

Inc.

5.50%,

4/01/2026

a

20,000

20,903

4.25%,

5/01/2028

a

50,000

52,331

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Non-cyclical

–

16.5%

(continued)

CHS/Community

Health

Systems,

Inc.

6.25%,

3/31/2023

105,000

104,066

8.63%,

1/15/2024

a

50,000

50,982

8.13%,

6/30/2024

a

25,000

19,268

6.63%,

2/15/2025

a

50,000

49,055

8.00%,

3/15/2026

a

70,000

70,240

8.00%,

12/15/2027

a

15,000

14,779

6.88%,

4/01/2028

a

45,000

23,348

Clearwater

Seafoods

,

Inc.,

6.88%,

5/01/2025

a

15,000

15,567

Cooke

Omega

Investments,

Inc.

/

Alpha

Vesselco

Holdings,

Inc.,

8.50%,

12/15/2022

a

60,000

61,896

Coty,

Inc.,

6.50%,

4/15/2026

a,b

40,000

31,277

Darling

Ingredients,

Inc.,

5.25%,

4/15/2027

a

8,000

8,481

Davita

,

Inc.,

4.63%,

6/01/2030

a

90,000

91,408

DaVita,

Inc.,

3.75%,

2/15/2031

a

25,000

24,034

Del

Monte

Foods,

Inc.,

11.88%,

5/15/2025

a

30,000

31,990

Edgewell

Personal

Care

Co.

4.70%,

5/24/2022

20,000

20,636

5.50%,

6/01/2028

a

70,000

73,547

Elanco

Animal

Health,

Inc.

5.27%,

8/28/2023

42,000

45,619

5.90%,

8/28/2028

32,000

37,252

Encompass

Health

Corp.

5.13%,

3/15/2023

6,000

6,028

4.50%,

2/01/2028

55,000

56,341

4.75%,

2/01/2030

55,000

57,252

ENDO

Dac

/

ENDO

Finance

LLC

/

ENDO

Finco

,

Inc.,

9.50%,

7/31/2027

a

35,000

37,537

Envision

Healthcare

Corp.,

8.75%,

10/15/2026

a

25,000

11,849

Fresh

Market,

Inc.

(The),

9.75%,

5/01/2023

a

30,000

28,698

Garda

World

Security

Corp.

8.75%,

5/15/2025

a

20,000

19,990

4.63%,

2/15/2027

a

35,000

34,413

9.50%,

11/01/2027

a

15,000

16,108

Graham

Holdings

Co.,

5.75%,

6/01/2026

a

11,000

11,533

Hadrian

Merger

Sub,

Inc.,

8.50%,

5/01/2026

a

15,000

14,609

HCA,

Inc.

5.88%,

5/01/2023

43,000

46,786

8.36%,

4/15/2024

6,000

7,029

5.38%,

2/01/2025

113,000

125,206

5.88%,

2/15/2026

42,000

47,469

5.38%,

9/01/2026

50,000

56,176

7.05%,

12/01/2027

5,000

6,019

5.63%,

9/01/2028

65,000

75,600

5.88%,

2/01/2029

25,000

29,450

3.50%,

9/01/2030

65,000

66,378

7.50%,

11/15/2095

5,000

6,322

Herbalife

Nutrition

Ltd.

/

Hlf

Financing,

Inc.,

7.88%,

9/01/2025

a,b

40,000

42,296

Herc

Holdings,

Inc.,

5.50%,

7/15/2027

a

60,000

61,692

H-Food

Holdings

LLC

/

Hearthside

Finance

Co.,

Inc.,

8.50%,

6/01/2026

a

15,000

14,959

Hill-Rom

Holdings,

Inc.

5.00%,

2/15/2025

a

10,000

10,279

4.38%,

9/15/2027

a

25,000

25,998

Hlf

Financing

Sarl

LLC

/

Herbalife

International,

Inc.,

7.25%,

8/15/2026

a

60,000

61,779

Hologic

,

Inc.,

3.25%,

2/15/2029

a

60,000

60,356

88

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Non-cyclical

–

16.5%

(continued)

Horizon

Therapeutics

USA,

Inc.,

5.50%,

8/01/2027

a

37,000

39,335

Ingles

Markets,

Inc.,

5.75%,

6/15/2023

23,000

23,192

IQVIA,

Inc.

5.00%,

10/15/2026

a

50,000

51,873

5.00%,

5/15/2027

a

50,000

52,538

Jaguar

Holding

Co.

II

/

Ppd

Development

LP,

5.00%,

6/15/2028

a

40,000

41,668

JBS

Investments

II

GmbH,

7.00%,

1/15/2026

a

46,000

48,985

JBS

USA

LUX

SA

/

JBS

USA

Finance,

Inc.

5.75%,

6/15/2025

a

55,000

56,654

6.75%,

2/15/2028

a

45,000

49,476

JBS

USA

LUX

SA

/

JBS

USA

Food

Co.

/

JBS

USA

Finance,

Inc.

6.50%,

4/15/2029

a

35,000

39,319

5.50%,

1/15/2030

a

55,000

60,013

KeHE

Distributors

LLC

/

KeHE

Finance

Corp.,

8.63%,

10/15/2026

a

10,000

10,821

Korn

Ferry,

4.63%,

12/15/2027

a

30,000

30,432

Kraft

Heinz

Foods

Co.

4.00%,

6/15/2023

20,000

21,394

3.95%,

7/15/2025

78,000

84,445

3.00%,

6/01/2026

73,000

74,494

3.88%,

5/15/2027

a

30,000

31,724

4.63%,

1/30/2029

40,000

44,443

3.75%,

4/01/2030

a

45,000

47,324

4.25%,

3/01/2031

a

30,000

32,559

6.75%,

3/15/2032

5,000

6,558

5.00%,

7/15/2035

25,000

28,812

6.88%,

1/26/2039

23,000

30,851

7.13%,

8/01/2039

a

25,000

33,779

4.63%,

10/01/2039

a

40,000

42,979

6.50%,

2/09/2040

25,000

31,907

5.00%,

6/04/2042

70,000

76,985

5.20%,

7/15/2045

95,000

105,134

4.38%,

6/01/2046

140,000

143,839

4.88%,

10/01/2049

a

70,000

73,974

5.50%,

6/01/2050

a

20,000

22,799

Kronos

Acquisition

Holdings,

Inc.,

9.00%,

8/15/2023

a

45,000

45,760

Lamb

Weston

Holdings,

Inc.

4.63%,

11/01/2024

a

30,000

31,063

4.88%,

11/01/2026

a

30,000

31,128

4.88%,

5/15/2028

a

45,000

48,799

Legacy

LifePoint

Health

LLC,

4.38%,

2/15/2027

a

20,000

19,801

Magellan

Health,

Inc.,

4.90%,

9/22/2024

26,000

27,402

MEDNAX,

Inc.

5.25%,

12/01/2023

a

25,000

25,162

6.25%,

1/15/2027

a

52,000

53,635

Molina

Healthcare,

Inc.

5.38%,

11/15/2022

45,000

46,788

4.88%,

6/15/2025

a

20,000

20,393

4.38%,

6/15/2028

a

55,000

56,337

Mph

Acquisition

Holdings

LLC,

5.75%,

11/01/2028

a

65,000

64,136

Nielsen

Co.

Luxembourg

Sarl

(The),

5.00%,

2/01/2025

a

18,000

18,463

Nielsen

Finance

LLC

/

Nielsen

Finance

Co.,

5.63%,

10/01/2028

a

65,000

67,046

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Non-cyclical

–

16.5%

(continued)

North

Queensland

Export

Terminal

Pty

Ltd.,

4.45%,

12/15/2022

a

21,000

19,695

Ortho-Clinical

Diagnostics,

Inc.

/

Ortho-Clinical

Diagnostics

SA,

7.25%,

2/01/2028

a

41,000

42,838

Par

Pharmaceutical,

Inc.,

7.50%,

4/01/2027

a

58,000

61,435

Pilgrim's

Pride

Corp.

5.75%,

3/15/2025

a

80,000

81,887

5.88%,

9/30/2027

a

20,000

21,138

Post

Holdings,

Inc.

5.00%,

8/15/2026

a

65,000

67,181

5.75%,

3/01/2027

a

60,000

62,861

5.63%,

1/15/2028

a

60,000

63,208

5.50%,

12/15/2029

a

25,000

27,014

4.63%,

4/15/2030

a

35,000

35,964

Prime

Security

Services

Borrower

LLC

/

Prime

Finance,

Inc.

5.25%,

4/15/2024

a

45,000

47,056

5.75%,

4/15/2026

a

65,000

69,234

3.38%,

8/31/2027

a

50,000

48,277

6.25%,

1/15/2028

a

35,000

35,362

Primo

Water

Holdings,

Inc.,

5.50%,

4/01/2025

a

45,000

46,466

Radiology

Partners,

Inc.,

9.25%,

2/01/2028

a,b

20,000

21,312

Refinitiv

US

Holdings,

Inc.

6.25%,

5/15/2026

a

55,000

58,754

8.25%,

11/15/2026

a

53,000

57,588

RegionalCare

Hospital

Partners

Holdings,

Inc.

/

LifePoint

Health,

Inc.,

9.75%,

12/01/2026

a

66,000

71,101

Ritchie

Bros

Auctioneers,

Inc.,

5.38%,

1/15/2025

a

37,000

38,009

Sabre

GLBL,

Inc.

5.25%,

11/15/2023

a

28,000

27,464

9.25%,

4/15/2025

a

45,000

49,811

Safeway,

Inc.,

7.25%,

2/01/2031

10,000

11,263

Select

Medical

Corp.,

6.25%,

8/15/2026

a

56,000

59,035

Service

Corp.

International

8.00%,

11/15/2021

5,000

5,315

4.63%,

12/15/2027

20,000

21,155

5.13%,

6/01/2029

28,000

30,619

ServiceMaster

Co.

LLC

(The),

5.13%,

11/15/2024

a

70,000

71,847

Sigma

Holdco

BV,

7.88%,

5/15/2026

a

25,000

24,623

Simmons

Foods,

Inc.

7.75%,

1/15/2024

a

25,000

26,118

5.75%,

11/01/2024

a

65,000

64,509

Sotheby's,

7.38%,

10/15/2027

a,b

20,000

20,446

Spectrum

Brands,

Inc.

5.00%,

10/01/2029

a

15,000

15,907

5.50%,

7/15/2030

a

10,000

10,729

Surgery

Center

Holdings,

Inc.

6.75%,

7/01/2025

a,b

5,000

4,931

10.00%,

4/15/2027

a,b

35,000

37,462

Team

Health

Holdings,

Inc.,

6.38%,

2/01/2025

a

20,000

12,307

Teleflex,

Inc.

4.88%,

6/01/2026

16,000

16,684

4.63%,

11/15/2027

40,000

42,236

89

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Consumer,

Non-cyclical

–

16.5%

(continued)

Tenet

Healthcare

Corp.

6.75%,

6/15/2023

51,000

53,779

4.63%,

7/15/2024

42,000

42,707

4.63%,

9/01/2024

a

20,000

20,479

5.13%,

5/01/2025

26,000

25,728

7.00%,

8/01/2025

b

11,000

11,275

4.88%,

1/01/2026

a

95,000

96,340

6.25%,

2/01/2027

a

75,000

77,878

5.13%,

11/01/2027

a

67,000

68,987

6.13%,

10/01/2028

a

120,000

116,378

6.88%,

11/15/2031

1,000

992

Tms

International

Holding

Corp.,

7.25%,

8/15/2025

a

25,000

23,635

TreeHouse

Foods,

Inc.

6.00%,

2/15/2024

a

45,000

46,018

4.00%,

9/01/2028

35,000

35,103

United

Rentals

North

America,

Inc.

5.88%,

9/15/2026

37,000

38,941

5.50%,

5/15/2027

54,000

57,444

3.88%,

11/15/2027

25,000

25,924

4.88%,

1/15/2028

60,000

63,009

5.25%,

1/15/2030

25,000

27,105

4.00%,

7/15/2030

40,000

40,787

US

Foods,

Inc.

5.88%,

6/15/2024

a

20,000

20,057

6.25%,

4/15/2025

a

55,000

57,451

US

Renal

Care,

Inc.,

10.63%,

7/15/2027

a

35,000

37,348

Vector

Group

Ltd.,

6.13%,

2/01/2025

a

30,000

29,946

Verscend

Escrow

Corp.,

9.75%,

8/15/2026

a

35,000

37,622

WEX,

Inc.,

4.75%,

2/01/2023

a

6,000

6,012

WW

International,

Inc.,

8.63%,

12/01/2025

a

21,000

21,944

8,933,333

Diversified

–

0.1%

Stena

International

SA,

6.13%,

2/01/2025

a

23,000

21,878

VistaJet

Malta

Finance

PLC

/

XO

Management

Holding,

Inc.,

10.50%,

6/01/2024

a

27,000

25,643

47,521

Energy

–

11.5%

AI

Candelaria

Spain

SLU,

7.50%,

12/15/2028

a

21,000

22,680

AKER

BP

ASA,

5.88%,

3/31/2025

a

50,000

51,950

Alliance

Resource

Operating

Partners

LP

/

Alliance

Resource

Finance

Corp.,

7.50%,

5/01/2025

a

10,000

7,057

American

Midstream

Partners

LP

/

American

Midstream

Finance

Corp.,

9.50%,

12/15/2021

a

35,000

33,964

Antero

Midstream

Partners

LP

/

Antero

Midstream

Finance

Corp.

5.38%,

9/15/2024

15,000

14,018

5.75%,

3/01/2027

a

15,000

13,500

5.75%,

1/15/2028

a

15,000

13,363

Antero

Resources

Corp.

5.13%,

12/01/2022

30,000

27,799

5.63%,

6/01/2023

b

25,000

20,744

5.00%,

3/01/2025

b

20,000

14,819

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Energy

–

11.5%

(continued)

Apache

Corp.

4.63%,

11/15/2025

10,000

9,469

4.88%,

11/15/2027

45,000

42,172

4.38%,

10/15/2028

60,000

54,908

4.25%,

1/15/2030

50,000

44,210

6.00%,

1/15/2037

20,000

18,923

5.10%,

9/01/2040

55,000

50,529

5.25%,

2/01/2042

45,000

40,632

5.35%,

7/01/2049

15,000

13,152

Archrock

Partners

LP

/

Archrock

Partners

Finance

Corp.

6.88%,

4/01/2027

a

10,000

9,800

6.25%,

4/01/2028

a

15,000

14,495

Ascent

Resources

Utica

Holdings

LLC

/

ARU

Finance

Corp.

10.00%,

4/01/2022

a

35,000

34,896

7.00%,

11/01/2026

a

20,000

17,629

Baytex

Energy

Corp.,

5.63%,

6/01/2024

a

5,000

2,804

Blue

Racer

Midstream

LLC

/

Blue

Racer

Finance

Corp.

6.13%,

11/15/2022

a

25,000

24,276

6.63%,

7/15/2026

a

30,000

27,092

Buckeye

Partners

LP

4.15%,

7/01/2023

20,000

19,758

4.35%,

10/15/2024

30,000

29,352

4.13%,

3/01/2025

a

15,000

14,239

3.95%,

12/01/2026

26,000

24,133

4.50%,

3/01/2028

a

15,000

14,250

5.85%,

11/15/2043

26,000

23,067

5.60%,

10/15/2044

25,000

21,700

6.38%,

1/22/2078

10,000

6,500

Calumet

Specialty

Products

Partners

LP

/

Calumet

Finance

Corp.

7.75%,

4/15/2023

20,000

19,200

11.00%,

4/15/2025

a,b

10,000

9,687

Cenovus

Energy,

Inc.

3.00%,

8/15/2022

15,000

14,862

3.80%,

9/15/2023

45,000

45,671

4.25%,

4/15/2027

21,000

21,311

5.25%,

6/15/2037

15,000

14,686

6.75%,

11/15/2039

35,000

38,908

5.40%,

6/15/2047

50,000

49,358

Centennial

Resource

Production

LLC,

6.88%,

4/01/2027

a

10,000

3,678

Championx

Corp.,

6.38%,

5/01/2026

10,000

9,563

Cheniere

Energy

Partners

LP

5.25%,

10/01/2025

65,000

66,116

5.63%,

10/01/2026

41,000

42,062

4.50%,

10/01/2029

75,000

76,453

Cheniere

Energy,

Inc.,

4.63%,

10/15/2028

a

90,000

93,266

CNX

Midstream

Partners

LP

/

CNX

Midstream

Finance

Corp.,

6.50%,

3/15/2026

a

15,000

15,243

CNX

Resources

Corp.,

7.25%,

3/14/2027

a

25,000

26,376

Comstock

Resources,

Inc.

7.50%,

5/15/2025

a

35,000

34,785

9.75%,

8/15/2026

50,000

52,696

9.75%,

8/15/2026

34,000

35,829

90

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Energy

–

11.5%

(continued)

Continental

Resources,

Inc.

5.00%,

9/15/2022

35,000

34,650

4.50%,

4/15/2023

60,000

57,081

3.80%,

6/01/2024

20,000

18,664

4.38%,

1/15/2028

b

20,000

18,002

4.90%,

6/01/2044

45,000

37,250

Crestwood

Midstream

Partners

LP

/

Crestwood

Midstream

Finance

Corp.

6.25%,

4/01/2023

15,000

14,549

5.75%,

4/01/2025

15,000

13,703

5.63%,

5/01/2027

a

30,000

26,105

CrownRock

LP

/

CrownRock

Finance,

Inc.,

5.63%,

10/15/2025

a

60,000

58,937

CVR

Energy,

Inc.

5.25%,

2/15/2025

a

25,000

18,170

5.75%,

2/15/2028

a

15,000

10,264

DCP

Midstream

Operating

LP

4.95%,

4/01/2022

25,000

25,376

5.38%,

7/15/2025

20,000

20,984

5.13%,

5/15/2029

20,000

19,894

6.45%,

11/03/2036

a

15,000

14,258

6.75%,

9/15/2037

a

15,000

14,309

Delek

Logistics

Partners

LP

/

Delek

Logistics

Finance

Corp.,

6.75%,

5/15/2025

18,000

16,089

Endeavor

Energy

Resources

LP

/

EER

Finance,

Inc.

5.50%,

1/30/2026

a

20,000

20,324

5.75%,

1/30/2028

a

30,000

31,200

Energy

Ventures

Gom

LLC

/

EnVen

Finance

Corp.,

11.00%,

2/15/2023

a

5,000

3,712

EnLink

Midstream

LLC,

5.38%,

6/01/2029

15,000

12,851

EnLink

Midstream

Partners

LP

4.40%,

4/01/2024

10,000

9,118

4.15%,

6/01/2025

15,000

12,969

4.85%,

7/15/2026

5,000

4,271

5.45%,

6/01/2047

20,000

12,870

Ensign

Drilling,

Inc.,

9.25%,

4/15/2024

a

15,000

5,343

EQM

Midstream

Partners

LP

4.75%,

7/15/2023

70,000

69,627

4.00%,

8/01/2024

25,000

24,257

6.00%,

7/01/2025

a

20,000

20,509

4.13%,

12/01/2026

30,000

28,585

6.50%,

7/01/2027

a

30,000

31,474

5.50%,

7/15/2028

b

35,000

35,465

EQT

Corp.

4.88%,

11/15/2021

10,000

10,173

3.00%,

10/01/2022

b

45,000

44,972

7.88%,

2/01/2025

35,000

38,938

3.90%,

10/01/2027

70,000

67,211

8.75%,

2/01/2030

45,000

55,899

Exterran

Energy

Solutions

LP

/

Ees

Finance

Corp.,

8.13%,

5/01/2025

20,000

16,879

Genesis

Energy

LP

/

Genesis

Energy

Finance

Corp.

5.63%,

6/15/2024

13,000

11,183

6.50%,

10/01/2025

13,000

10,764

6.25%,

5/15/2026

35,000

28,037

7.75%,

2/01/2028

44,000

36,533

Global

Partners

LP

/

GLP

Finance

Corp.,

7.00%,

8/01/2027

10,000

10,318

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Energy

–

11.5%

(continued)

Gulfport

Energy

Corp.

6.00%,

10/15/2024

d

20,000

11,081

6.38%,

5/15/2025

10,000

5,547

6.38%,

1/15/2026

10,000

5,513

Hess

Midstream

Operations

LP

5.63%,

2/15/2026

a

25,000

24,987

5.13%,

6/15/2028

a

20,000

20,030

Hilcorp

Energy

I

LP

/

Hilcorp

Finance

Co.

5.00%,

12/01/2024

a

10,000

9,217

5.75%,

10/01/2025

a

35,000

32,263

6.25%,

11/01/2028

a

75,000

68,843

Holly

Energy

Partners

LP

/

Holly

Energy

Finance

Corp.,

5.00%,

2/01/2028

a

25,000

23,646

Indigo

Natural

Resources

LLC,

6.88%,

2/15/2026

a

15,000

14,850

Ithaca

Energy

North

Sea

PLC,

9.38%,

7/15/2024

a

15,000

13,170

Laredo

Petroleum,

Inc.,

10.13%,

1/15/2028

15,000

6,494

Magnolia

Oil

&

Gas

Operating

LLC

/

Magnolia

Oil

&

Gas

Finance

Corp.,

6.00%,

8/01/2026

a

20,000

18,998

Matador

Resources

Co.,

5.88%,

9/15/2026

35,000

28,199

MEG

Energy

Corp.

7.00%,

3/31/2024

a

15,000

14,301

6.50%,

1/15/2025

a

10,000

9,798

7.13%,

2/01/2027

a

40,000

36,002

Montage

Resources

Corp.,

8.88%,

7/15/2023

15,000

15,313

Moss

Creek

Resources

Holdings,

Inc.

7.50%,

1/15/2026

a

15,000

7,503

10.50%,

5/15/2027

a

10,000

5,185

Murphy

Oil

Corp.

4.95%,

12/01/2022

10,000

9,563

6.88%,

8/15/2024

10,000

8,902

5.75%,

8/15/2025

12,000

9,837

6.38%,

12/01/2042

25,000

19,739

Nabors

Industries

Ltd.

7.25%,

1/15/2026

a

15,000

6,239

7.50%,

1/15/2028

a

15,000

6,000

Nabors

Industries,

Inc.

4.63%,

9/15/2021

5,000

4,008

5.75%,

2/01/2025

15,000

4,185

Natural

Resource

Partners

LP

/

NRP

Finance

Corp.,

9.13%,

6/30/2025

a

7,000

6,248

Neptune

Energy

Bondco

PLC,

6.63%,

5/15/2025

a

20,000

17,424

Newfield

Exploration

Co.

5.75%,

1/30/2022

35,000

35,189

5.63%,

7/01/2024

45,000

43,536

5.38%,

1/01/2026

35,000

32,900

NGL

Energy

Partners

LP

/

NGL

Energy

Finance

Corp.

7.50%,

11/01/2023

10,000

5,389

6.13%,

3/01/2025

10,000

5,001

7.50%,

4/15/2026

15,000

7,669

Nine

Energy

Service,

Inc.,

8.75%,

11/01/2023

a

10,000

2,818

Nustar

Logistics

LP,

5.75%,

10/01/2025

20,000

20,133

NuStar

Logistics

LP

4.75%,

2/01/2022

27,000

27,001

6.00%,

6/01/2026

20,000

19,822

5.63%,

4/28/2027

20,000

19,601

91

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Energy

–

11.5%

(continued)

Occidental

Petroleum

Corp.

2.60%,

8/13/2021

43,000

41,979

3.13%,

2/15/2022

45,000

42,836

2.70%,

8/15/2022

124,000

114,541

2.70%,

2/15/2023

32,000

28,670

6.95%,

7/01/2024

25,000

24,092

2.90%,

8/15/2024

110,000

91,547

3.50%,

6/15/2025

55,000

44,193

8.00%,

7/15/2025

b

15,000

14,629

5.55%,

3/15/2026

25,000

21,799

3.40%,

4/15/2026

75,000

58,619

3.20%,

8/15/2026

65,000

50,192

3.00%,

2/15/2027

30,000

22,664

8.50%,

7/15/2027

15,000

14,400

7.15%,

5/15/2028

5,000

4,353

3.50%,

8/15/2029

55,000

39,690

8.88%,

7/15/2030

30,000

29,359

7.50%,

5/01/2031

30,000

27,374

7.88%,

9/15/2031

30,000

27,884

6.45%,

9/15/2036

55,000

44,545

7.95%,

6/15/2039

13,000

12,084

4.30%,

8/15/2039

30,000

20,030

6.20%,

3/15/2040

20,000

16,219

4.50%,

7/15/2044

15,000

10,280

6.60%,

3/15/2046

70,000

57,987

4.40%,

4/15/2046

75,000

50,352

4.20%,

3/15/2048

35,000

22,588

4.40%,

8/15/2049

b

50,000

33,435

Oceaneering

International,

Inc.

4.65%,

11/15/2024

15,000

12,130

6.00%,

2/01/2028

b

10,000

7,091

Ovintiv

,

Inc.

3.90%,

11/15/2021

30,000

29,982

8.13%,

9/15/2030

20,000

20,725

7.20%,

11/01/2031

25,000

24,865

7.38%,

11/01/2031

30,000

30,130

6.50%,

8/15/2034

40,000

37,436

6.63%,

8/15/2037

30,000

27,555

6.50%,

2/01/2038

30,000

27,272

5.15%,

11/15/2041

25,000

19,938

Pacific

Drilling

SA,

8.38%,

10/01/2023

a,d

15,000

1,800

Par

Petroleum

LLC

/

Par

Petroleum

Finance

Corp.,

7.75%,

12/15/2025

a

30,000

24,281

Parkland

Corp./Canada,

6.00%,

4/01/2026

a

35,000

36,164

Parkland

Fuel

Corp.,

5.88%,

7/15/2027

a

20,000

20,656

Parsley

Energy

LLC

/

Parsley

Finance

Corp.

5.38%,

1/15/2025

a

20,000

20,444

5.25%,

8/15/2025

a

15,000

15,447

5.63%,

10/15/2027

a

40,000

42,531

4.13%,

2/15/2028

a

15,000

15,631

Patterson-UTI

Energy,

Inc.

3.95%,

2/01/2028

50,000

37,558

5.15%,

11/15/2029

b

46,000

34,606

PBF

Holding

Co

LLC

/

PBF

Finance

Corp.

7.25%,

6/15/2025

25,000

10,373

6.00%,

2/15/2028

a

30,000

11,587

PBF

Logistics

LP

/

PBF

Logistics

Finance

Corp.,

6.88%,

5/15/2023

20,000

15,429

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Energy

–

11.5%

(continued)

PDC

Energy,

Inc.

6.13%,

9/15/2024

10,000

9,583

5.75%,

5/15/2026

26,000

24,501

Peabody

Energy

Corp.,

6.38%,

3/31/2025

a

15,000

4,621

Precision

Drilling

Corp.,

5.25%,

11/15/2024

25,000

16,250

QEP

Resources,

Inc.

5.38%,

10/01/2022

15,000

13,112

5.25%,

5/01/2023

45,000

35,537

5.63%,

3/01/2026

b

15,000

9,509

Range

Resources

Corp.

5.00%,

3/15/2023

b

12,000

11,660

4.88%,

5/15/2025

b

15,000

13,941

9.25%,

2/01/2026

a

30,000

31,808

Rattler

Midstream

LP,

5.63%,

7/15/2025

a

15,000

15,500

Rockies

Express

Pipeline

LLC

3.60%,

5/15/2025

a

25,000

24,981

4.95%,

7/15/2029

a

25,000

24,438

4.80%,

5/15/2030

a

35,000

32,884

7.50%,

7/15/2038

a

5,000

5,268

6.88%,

4/15/2040

a

25,000

25,745

Ruby

Pipeline

LLC,

7.75%,

4/01/2022

a,b

15,091

12,733

Seven

Generations

Energy

Ltd.

6.75%,

5/01/2023

a

15,000

14,898

6.88%,

6/30/2023

a

15,000

14,993

5.38%,

9/30/2025

a

20,000

19,006

SM

Energy

Co.

5.00%,

1/15/2024

15,000

7,516

10.00%,

1/15/2025

a,b

10,000

9,534

5.63%,

6/01/2025

10,000

3,973

6.75%,

9/15/2026

15,000

5,712

6.63%,

1/15/2027

10,000

3,810

Southeast

Supply

Header

LLC,

4.25%,

6/15/2024

a

25,000

24,552

Southwestern

Energy

Co.

6.45%,

1/23/2025

26,000

26,072

7.50%,

4/01/2026

b

17,000

17,311

8.38%,

9/15/2028

15,000

15,695

Suncor

Energy

Ventures

Corp.,

6.00%,

4/01/2042

a

20,000

19,867

Sunoco

LP

/

Sunoco

Finance

Corp.

4.88%,

1/15/2023

20,000

20,089

5.50%,

2/15/2026

45,000

45,210

5.88%,

3/15/2028

16,000

16,602

Tallgrass

Energy

Partners

LP

/

Tallgrass

Energy

Finance

Corp.

4.75%,

10/01/2023

a

10,000

9,536

5.50%,

9/15/2024

a

20,000

19,283

7.50%,

10/01/2025

a

20,000

20,204

6.00%,

3/01/2027

a

20,000

19,025

5.50%,

1/15/2028

a

25,000

22,979

92

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Energy

–

11.5%

(continued)

Targa

Resources

Partners

LP

/

Targa

Resources

Partners

Finance

Corp.

5.25%,

5/01/2023

25,000

25,000

4.25%,

11/15/2023

20,000

20,018

5.13%,

2/01/2025

20,000

20,055

5.88%,

4/15/2026

30,000

30,648

5.38%,

2/01/2027

20,000

20,102

6.50%,

7/15/2027

20,000

21,100

5.00%,

1/15/2028

25,000

24,696

6.88%,

1/15/2029

24,000

25,768

5.50%,

3/01/2030

a

50,000

50,256

Teine

Energy

Ltd.,

6.88%,

9/30/2022

a

10,000

9,950

TerraForm

Power

Operating

LLC

5.00%,

1/31/2028

a

5,000

5,492

4.75%,

1/15/2030

a

17,000

18,261

TransMontaigne

Partners

LP

/

TLP

Finance

Corp.,

6.13%,

2/15/2026

16,000

16,350

Transocean

Guardian

Ltd.,

5.88%,

1/15/2024

a

15,600

9,655

Transocean

Phoenix

2

Ltd.,

7.75%,

10/15/2024

a

9,000

8,261

Transocean

Pontus

Ltd.,

6.13%,

8/01/2025

a

11,700

10,390

Transocean

Poseidon

Ltd.,

6.88%,

2/01/2027

a

20,000

15,067

Transocean

Proteus

Ltd.,

6.25%,

12/01/2024

a

9,750

8,619

Transocean,

Inc.,

11.50%,

1/30/2027

a

24,000

7,983

USA

Compression

Partners

LP

/

USA

Compression

Finance

Corp.

6.88%,

4/01/2026

12,000

11,953

6.88%,

9/01/2027

25,000

25,130

Vantage

Drilling

International,

9.25%,

11/15/2023

a

5,000

2,778

Vine

Oil

&

Gas

LP

/

Vine

Oil

&

Gas

Finance

Corp.,

8.75%,

4/15/2023

a

15,000

11,008

Viper

Energy

Partners

LP,

5.38%,

11/01/2027

a

35,000

35,704

W&T

Offshore,

Inc.,

9.75%,

11/01/2023

a

20,000

13,055

Weatherford

International

Ltd.,

11.00%,

12/01/2024

a

70,000

41,370

Western

Midstream

Operating

LP

4.00%,

7/01/2022

40,000

40,040

4.10%,

2/01/2025

107,000

101,138

4.65%,

7/01/2026

17,000

16,288

4.75%,

8/15/2028

15,000

14,070

5.05%,

2/01/2030

55,000

52,167

5.45%,

4/01/2044

20,000

16,956

5.30%,

3/01/2048

25,000

20,165

5.50%,

8/15/2048

55,000

44,634

6.25%,

2/01/2050

30,000

26,873

WPX

Energy,

Inc.

5.25%,

9/15/2024

9,000

9,339

5.75%,

6/01/2026

10,000

10,273

5.25%,

10/15/2027

15,000

15,044

4.50%,

1/15/2030

30,000

28,798

6,243,905

Financial

–

10.6%

Acrisure

LLC

/

Acrisure

Finance,

Inc.

8.13%,

2/15/2024

a

25,000

26,175

7.00%,

11/15/2025

a

80,000

79,878

10.13%,

8/01/2026

a

15,000

16,611

Advisor

Group

Holdings,

Inc.,

10.75%,

8/01/2027

a

15,000

15,069

AG

Issuer

LLC,

6.25%,

3/01/2028

a

20,000

19,601

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Financial

–

10.6%

(continued)

Alliant

Holdings

Intermediate

LLC

/

Alliant

Holdings

Co.-Issuer,

6.75%,

10/15/2027

a

40,000

42,000

Ally

Financial,

Inc.,

5.75%,

11/20/2025

52,000

59,098

AmWINS

Group,

Inc.,

7.75%,

7/01/2026

a

50,000

53,448

ASG

Finance

Designated

Activity

Co.,

7.88%,

12/03/2024

a

15,000

10,500

Brookfield

Property

REIT,

Inc.

/

BPR

Cumulus

LLC

/

BPR

Nimbus

LLC

/

GGSI

Sellco

LLC,

5.75%,

5/15/2026

a

45,000

37,312

CIT

Group,

Inc.

5.00%,

8/15/2022

60,000

63,239

5.00%,

8/01/2023

21,000

22,622

4.75%,

2/16/2024

13,000

13,975

3.93%,

6/19/2024

40,000

41,664

5.25%,

3/07/2025

15,000

16,764

6.13%,

3/09/2028

35,000

42,615

Commerzbank

AG,

8.13%,

9/19/2023

a

25,000

28,730

Compass

Group

Diversified

Holdings

LLC,

8.00%,

5/01/2026

a

10,000

10,538

CoreCivic

,

Inc.

5.00%,

10/15/2022

10,000

9,599

4.63%,

5/01/2023

b

13,000

11,899

4.75%,

10/15/2027

10,000

7,894

Credit

Acceptance

Corp.

5.13%,

12/31/2024

a

23,000

22,996

6.63%,

3/15/2026

12,000

12,475

CTR

Partnership

LP

/

Caretrust

Capital

Corp.,

5.25%,

6/01/2025

30,000

31,008

Curo

Group

Holdings

Corp.,

8.25%,

9/01/2025

a

46,000

38,056

Deutsche

Bank

AG

4.50%,

4/01/2025

50,000

50,909

4.30%,

5/24/2028

50,000

48,673

Diversified

Healthcare

Trust,

4.75%,

2/15/2028

5,000

4,441

Dresdner

Funding

Trust

I,

8.15%,

6/30/2031

a

50,000

73,130

Enova

International,

Inc.

8.50%,

9/01/2024

a

28,000

25,951

8.50%,

9/15/2025

a

12,000

11,052

EPR

Properties

5.25%,

7/15/2023

25,000

24,350

4.50%,

4/01/2025

30,000

27,608

4.75%,

12/15/2026

35,000

32,184

4.50%,

6/01/2027

35,000

31,317

4.95%,

4/15/2028

30,000

26,967

3.75%,

8/15/2029

35,000

29,762

ESH

Hospitality,

Inc.

5.25%,

5/01/2025

a

30,000

30,033

4.63%,

10/01/2027

a

75,000

73,572

Fairstone

Financial,

Inc.,

7.88%,

7/15/2024

a

36,000

36,908

FelCor

Lodging

LP,

6.00%,

6/01/2025

15,000

14,763

Five

Point

Operating

Co.

LP

/

Five

Point

Capital

Corp.,

7.88%,

11/15/2025

a

12,000

11,986

Freedom

Mortgage

Corp.

10.75%,

4/01/2024

a,b

15,000

16,404

8.13%,

11/15/2024

a

15,000

15,122

7.63%,

5/01/2026

a

225,000

224,672

FS

Energy

&

Power

Fund,

7.50%,

8/15/2023

a

27,000

24,326

Genworth

Holdings,

Inc.

4.90%,

8/15/2023

33,000

30,755

6.50%,

6/15/2034

10,000

9,405

93

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Financial

–

10.6%

(continued)

Genworth

Mortgage

Holdings,

Inc.,

6.50%,

8/15/2025

a

45,000

46,930

GEO

Group,

Inc.

(The)

5.88%,

1/15/2022

10,000

9,312

5.13%,

4/01/2023

25,000

19,750

Global

Aircraft

Leasing

Co.

Ltd.,

6.50%,

9/15/2024

a,c

51,812

34,698

Goeasy

Ltd.,

5.38%,

12/01/2024

a

35,000

35,424

Greystar

Real

Estate

Partners

LLC,

5.75%,

12/01/2025

a

20,000

20,242

GTCR

AP

Finance,

Inc.,

8.00%,

5/15/2027

a

15,000

15,993

HAT

Holdings

I

LLC

/

HAT

Holdings

II

LLC,

5.25%,

7/15/2024

a

45,000

46,647

Howard

Hughes

Corp.

(The)

5.38%,

3/15/2025

a

50,000

50,128

5.38%,

8/01/2028

a

45,000

45,430

HUB

International

Ltd.,

7.00%,

5/01/2026

a

102,000

104,553

Icahn

Enterprises

LP

/

Icahn

Enterprises

Finance

Corp.

6.25%,

2/01/2022

60,000

60,141

6.75%,

2/01/2024

15,000

15,347

4.75%,

9/15/2024

55,000

55,962

6.38%,

12/15/2025

45,000

46,132

6.25%,

5/15/2026

40,000

41,495

5.25%,

5/15/2027

30,000

31,064

Intesa

Sanpaolo

SpA

5.02%,

6/26/2024

a

151,000

159,359

5.71%,

1/15/2026

a

35,000

38,145

Iron

Mountain,

Inc.

4.88%,

9/15/2027

a

61,000

62,191

5.25%,

3/15/2028

a

40,000

41,255

4.88%,

9/15/2029

a

41,000

41,325

5.25%,

7/15/2030

a

45,000

46,183

iStar

,

Inc.

4.25%,

8/01/2025

22,000

20,312

5.50%,

2/15/2026

30,000

28,352

Kennedy-Wilson,

Inc.,

5.88%,

4/01/2024

85,000

82,964

Ladder

Capital

Finance

Holdings

LLLP

/

Ladder

Capital

Finance

Corp.

5.88%,

8/01/2021

a

25,000

24,900

5.25%,

3/15/2022

a

19,000

18,463

5.25%,

10/01/2025

a

15,000

13,734

LPL

Holdings,

Inc.

5.75%,

9/15/2025

a

50,000

51,773

4.63%,

11/15/2027

a

31,000

31,772

Mack-Cali

Realty

LP,

4.50%,

4/18/2022

5,000

4,832

MGIC

Investment

Corp.,

5.25%,

8/15/2028

35,000

36,137

MGM

Growth

Properties

Operating

Partnership

LP

/

MGP

Finance

Co.-Issuer,

Inc.

5.63%,

5/01/2024

34,000

35,770

4.63%,

6/15/2025

a

25,000

25,455

4.50%,

9/01/2026

20,000

20,459

5.75%,

2/01/2027

25,000

26,976

MPT

Operating

Partnership

LP

/

MPT

Finance

Corp.

6.38%,

3/01/2024

45,000

46,055

5.50%,

5/01/2024

12,000

12,266

5.25%,

8/01/2026

18,000

18,593

5.00%,

10/15/2027

31,000

32,295

4.63%,

8/01/2029

40,000

41,901

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Financial

–

10.6%

(continued)

Nationstar

Mortgage

Holdings,

Inc.

9.13%,

7/15/2026

a

25,000

26,757

6.00%,

1/15/2027

a

70,000

70,014

Navient

Corp.

7.25%,

1/25/2022

96,000

99,039

6.50%,

6/15/2022

30,000

30,813

5.50%,

1/25/2023

24,000

23,948

7.25%,

9/25/2023

15,000

15,727

6.13%,

3/25/2024

8,000

8,084

5.88%,

10/25/2024

38,000

37,732

5.63%,

8/01/2033

18,000

15,429

Newmark

Group,

Inc.,

6.13%,

11/15/2023

46,000

48,684

NFP

Corp.,

6.88%,

8/15/2028

a

70,000

68,032

Ocwen

Loan

Servicing

LLC,

8.38%,

11/15/2022

a

5,000

4,650

OneMain

Finance

Corp.

7.75%,

10/01/2021

48,000

50,059

6.13%,

5/15/2022

32,000

33,392

5.63%,

3/15/2023

50,000

52,043

8.25%,

10/01/2023

6,000

6,647

6.13%,

3/15/2024

66,000

69,395

6.88%,

3/15/2025

21,000

23,111

7.13%,

3/15/2026

75,000

83,125

6.63%,

1/15/2028

30,000

32,834

5.38%,

11/15/2029

17,000

17,485

Oxford

Finance

LLC

/

Oxford

Finance

Co.-Issuer

II,

Inc.,

6.38%,

12/15/2022

a

30,000

29,752

Park

Intermediate

Holdings

LLC

/

PK

Domestic

Property

LLC

/

PK

Finance

Co.-Issuer,

5.88%,

10/01/2028

a

20,000

19,694

Provident

Funding

Associates

LP

/

Pfg

Finance

Corp.,

6.38%,

6/15/2025

a

35,000

34,354

Quicken

Loans

LLC

/

Quicken

Loans

Co.-Issuer,

Inc.,

3.88%,

3/01/2031

a

75,000

73,930

Quicken

Loans,

Inc.,

5.25%,

1/15/2028

a

50,000

52,343

Radian

Group,

Inc.

4.50%,

10/01/2024

10,000

10,147

6.63%,

3/15/2025

65,000

70,553

4.88%,

3/15/2027

65,000

66,607

Realogy

Group

LLC

/

Realogy

Co.-Issuer

Corp.

4.88%,

6/01/2023

a

7,000

6,981

7.63%,

6/15/2025

a

30,000

31,701

9.38%,

4/01/2027

a

20,000

21,199

RHP

Hotel

Properties

LP

/

RHP

Finance

Corp.

5.00%,

4/15/2023

12,000

11,820

4.75%,

10/15/2027

45,000

41,528

SBA

Communications

Corp.,

3.88%,

2/15/2027

a

60,000

60,982

Service

Properties

Trust

5.00%,

8/15/2022

20,000

19,938

4.50%,

6/15/2023

20,000

19,199

4.65%,

3/15/2024

25,000

22,458

4.35%,

10/01/2024

40,000

35,400

4.50%,

3/15/2025

25,000

21,513

5.25%,

2/15/2026

20,000

17,457

4.75%,

10/01/2026

70,000

60,367

4.95%,

2/15/2027

20,000

16,995

3.95%,

1/15/2028

50,000

39,243

4.95%,

10/01/2029

20,000

16,475

4.38%,

2/15/2030

20,000

16,333

94

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Financial

–

10.6%

(continued)

SLM

Corp.

5.13%,

4/05/2022

36,000

36,967

4.20%,

10/29/2025

45,000

45,720

Starwood

Property

Trust,

Inc.,

4.75%,

3/15/2025

38,000

36,945

Synovus

Financial

Corp.,

5.90%,

2/07/2029

20,000

20,833

UniCredit

SpA

5.86%,

6/19/2032

a

25,000

26,388

7.30%,

4/02/2034

a

50,000

57,358

5.46%,

6/30/2035

a

50,000

50,798

Uniti

Group

LP

/

Uniti

Fiber

Holdings,

Inc.

/

CSL

Capital

LLC

7.13%,

12/15/2024

a

10,000

9,567

7.88%,

2/15/2025

a

100,000

106,136

Uniti

Group

LP

/

Uniti

Group

Finance,

Inc.

/

CSL

Capital

LLC

6.00%,

4/15/2023

a

25,000

25,348

8.25%,

10/15/2023

40,000

39,498

VICI

Properties

LP

/

VICI

Note

Co.,

Inc.

3.50%,

2/15/2025

a

75,000

75,265

4.25%,

12/01/2026

a

50,000

50,810

3.75%,

2/15/2027

a

40,000

40,120

4.63%,

12/01/2029

a

35,000

36,373

4.13%,

8/15/2030

a

50,000

50,612

Vmed

O2

UK

Financing

I

PLC,

4.25%,

1/31/2031

a

65,000

65,159

Washington

Prime

Group

LP,

6.45%,

8/15/2024

b

25,000

12,912

WeWork

Cos.,

Inc.,

7.88%,

5/01/2025

a

15,000

9,467

XHR

LP,

6.38%,

8/15/2025

a

45,000

44,670

5,723,686

Industrial

–

10.4%

Advanced

Drainage

Systems,

Inc.,

5.00%,

9/30/2027

a

30,000

31,492

AECOM,

5.13%,

3/15/2027

43,000

47,101

Amsted

Industries,

Inc.

5.63%,

7/01/2027

a

30,000

31,685

4.63%,

5/15/2030

a

15,000

15,507

Apex

Tool

Group

LLC

/

BC

Mountain

Finance,

Inc.,

9.00%,

2/15/2023

a

20,000

18,466

Ard

Finance

SA,

6.50%,

6/30/2027

a,c

50,000

50,715

Ardagh

Packaging

Finance

PLC

/

Ardagh

Holdings

USA,

Inc.

5.25%,

4/30/2025

a

30,000

31,382

4.13%,

8/15/2026

a

50,000

51,170

5.25%,

8/15/2027

a

30,000

30,826

ATS

Automation

Tooling

Systems,

Inc.,

6.50%,

6/15/2023

a

25,000

25,327

Ball

Corp.

5.00%,

3/15/2022

25,000

26,039

4.00%,

11/15/2023

60,000

63,439

5.25%,

7/01/2025

45,000

50,917

4.88%,

3/15/2026

43,000

48,001

Berry

Global,

Inc.

4.88%,

7/15/2026

a

55,000

57,538

5.63%,

7/15/2027

a

45,000

47,114

Boise

Cascade

Co.,

4.88%,

7/01/2030

a

35,000

37,434

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Industrial

–

10.4%

(continued)

Bombardier,

Inc.

5.75%,

3/15/2022

a

15,000

14,425

6.00%,

10/15/2022

a

39,000

34,784

6.13%,

1/15/2023

a

43,000

37,056

7.50%,

12/01/2024

a

37,000

27,750

7.50%,

3/15/2025

a

35,000

25,369

7.88%,

4/15/2027

a

109,000

79,383

Brand

Industrial

Services,

Inc.,

8.50%,

7/15/2025

a

50,000

46,846

Builders

FirstSource

,

Inc.

6.75%,

6/01/2027

a

52,000

55,762

5.00%,

3/01/2030

a

15,000

15,806

BWX

Technologies,

Inc.,

4.13%,

6/30/2028

a

10,000

10,209

Cargo

Aircraft

Management,

Inc.,

4.75%,

2/01/2028

a

35,000

35,584

Cascades,

Inc./Cascades

USA,

Inc.,

5.38%,

1/15/2028

a

15,000

15,689

Clean

Harbors,

Inc.

4.88%,

7/15/2027

a

21,000

21,947

5.13%,

7/15/2029

a

8,000

8,701

Cleaver-Brooks,

Inc.,

7.88%,

3/01/2023

a

35,000

33,912

Colfax

Corp.

6.00%,

2/15/2024

a

15,000

15,611

6.38%,

2/15/2026

a

30,000

31,917

Cornerstone

Building

Brands,

Inc.,

8.00%,

4/15/2026

a

20,000

20,779

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

IV,

4.50%,

1/15/2023

50,000

52,052

Crown

Americas

LLC

/

Crown

Americas

Capital

Corp.

VI,

4.75%,

2/01/2026

50,000

51,841

Crown

Cork

&

Seal

Co.,

Inc.,

7.38%,

12/15/2026

20,000

23,929

Energizer

Holdings,

Inc.,

7.75%,

1/15/2027

a

48,000

51,983

EnerSys

5.00%,

4/30/2023

a

28,000

28,889

4.38%,

12/15/2027

a

8,000

8,226

EnPro

Industries,

Inc.,

5.75%,

10/15/2026

10,000

10,553

Flex

Acquisition

Co.,

Inc.

6.88%,

1/15/2025

a

20,000

19,693

7.88%,

7/15/2026

a

20,000

20,233

Fluor

Corp.

3.50%,

12/15/2024

b

65,000

58,869

4.25%,

9/15/2028

55,000

49,110

Fly

Leasing

Ltd.,

5.25%,

10/15/2024

65,000

53,585

Forterra

Finance

LLC

/

Frta

Finance

Corp.,

6.50%,

7/15/2025

a

15,000

15,874

Fortress

Transportation

&

Infrastructure

Investors

LLC

6.75%,

3/15/2022

a

20,000

19,870

6.50%,

10/01/2025

a

45,000

44,377

9.75%,

8/01/2027

a

40,000

42,574

Frontdoor

,

Inc.,

6.75%,

8/15/2026

a

40,000

42,709

FXI

Holdings,

Inc.

7.88%,

11/01/2024

a

20,000

18,684

12.25%,

11/15/2026

a

25,000

26,152

Gates

Global

LLC

/

Gates

Corp.,

6.25%,

1/15/2026

a

35,000

36,214

95

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Industrial

–

10.4%

(continued)

GFL

Environmental,

Inc.

7.00%,

6/01/2026

a

30,000

31,326

5.13%,

12/15/2026

a

40,000

41,975

8.50%,

5/01/2027

a

20,000

21,833

Granite

US

Holdings

Corp.,

11.00%,

10/01/2027

a

30,000

31,064

Graphic

Packaging

International

LLC

4.88%,

11/15/2022

25,000

25,972

4.13%,

8/15/2024

10,000

10,533

4.75%,

7/15/2027

a

28,000

30,416

3.50%,

3/15/2028

a

16,000

16,032

Greif,

Inc.,

6.50%,

3/01/2027

a

40,000

41,986

Griffon

Corp.,

5.75%,

3/01/2028

35,000

36,682

Grinding

Media,

Inc.

/

Moly-Cop

AltaSteel

Ltd.,

7.38%,

12/15/2023

a

45,000

45,396

Harsco

Corp.,

5.75%,

7/31/2027

a

25,000

25,568

Hillenbrand,

Inc.

5.75%,

6/15/2025

35,000

37,282

5.00%,

9/15/2026

30,000

32,752

Hillman

Group,

Inc.

(The),

6.38%,

7/15/2022

a

63,000

62,483

Howmet

Aerospace,

Inc.

5.87%,

2/23/2022

25,000

26,374

6.88%,

5/01/2025

55,000

61,148

5.90%,

2/01/2027

b

35,000

38,655

6.75%,

1/15/2028

20,000

22,744

5.95%,

2/01/2037

35,000

38,539

Husky

III

Holding

Ltd.,

13.00%,

2/15/2025

a,b,c

25,000

26,323

Ingram

Micro,

Inc.

5.00%,

8/10/2022

15,000

15,291

5.45%,

12/15/2024

35,000

36,762

JELD-WEN,

Inc.

6.25%,

5/15/2025

a

10,000

10,757

4.63%,

12/15/2025

a

5,000

5,076

4.88%,

12/15/2027

a

21,000

21,735

Kenan

Advantage

Group,

Inc.

(The),

7.88%,

7/31/2023

a,b

20,000

20,059

Koppers

,

Inc.,

6.00%,

2/15/2025

a

20,000

20,573

Kratos

Defense

&

Security

Solutions,

Inc.,

6.50%,

11/30/2025

a

12,000

12,519

LABL

Escrow

Issuer

LLC

6.75%,

7/15/2026

a

45,000

47,250

10.50%,

7/15/2027

a,b

20,000

21,349

Louisiana-Pacific

Corp.,

4.88%,

9/15/2024

21,000

21,496

LSB

Industries,

Inc.,

9.63%,

5/01/2023

a

16,000

15,742

Manitowoc

Co.,

Inc.

(The),

9.00%,

4/01/2026

a

6,000

6,159

Masonite

International

Corp.

5.75%,

9/15/2026

a

6,000

6,270

5.38%,

2/01/2028

a

28,000

29,808

MasTec

,

Inc.,

4.50%,

8/15/2028

a

20,000

20,550

Matthews

International

Corp.,

5.25%,

12/01/2025

a

23,000

21,956

Mauser

Packaging

Solutions

Holding

Co.

5.50%,

4/15/2024

a

38,000

38,036

7.25%,

4/15/2025

a

95,000

91,628

Moog,

Inc.,

4.25%,

12/15/2027

a

17,000

17,429

New

Enterprise

Stone

&

Lime

Co.,

Inc.,

6.25%,

3/15/2026

a

15,000

15,500

Norbord,

Inc.,

6.25%,

4/15/2023

a

6,000

6,435

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Industrial

–

10.4%

(continued)

Owens-Brockway

Glass

Container,

Inc.

5.88%,

8/15/2023

a

20,000

21,053

6.38%,

8/15/2025

a

10,000

10,998

Pactiv

LLC

7.95%,

12/15/2025

31,000

34,410

8.38%,

4/15/2027

15,000

16,631

Park-Ohio

Industries,

Inc.,

6.63%,

4/15/2027

10,000

9,598

Plastipak

Holdings,

Inc.,

6.25%,

10/15/2025

a

45,000

45,091

Powerteam

Services

LLC,

9.03%,

12/04/2025

a

30,000

31,852

RBS

Global,

Inc.

/

Rexnord

LLC,

4.88%,

12/15/2025

a

20,000

20,413

Reynolds

Group

Issuer,

Inc.

/

Reynolds

Group

Issuer

LLC

/

Reynolds

Group

Issuer

Lu

5.13%,

7/15/2023

a

5,000

5,060

4.00%,

10/15/2027

a

110,000

111,604

Rolls-Royce

PLC,

3.63%,

10/14/2025

a

85,000

80,876

Rutas

2

And

7

Finance

Ltd.,

9/30/2036

a,e

15,000

10,575

Sealed

Air

Corp.

5.25%,

4/01/2023

a

35,000

36,980

5.13%,

12/01/2024

a

25,000

27,271

5.50%,

9/15/2025

a

15,000

16,751

4.00%,

12/01/2027

a

30,000

31,394

6.88%,

7/15/2033

a

13,000

16,800

Sensata

Technologies

BV

4.88%,

10/15/2023

a

35,000

37,140

5.63%,

11/01/2024

a

25,000

27,429

5.00%,

10/01/2025

a

15,000

16,386

Sensata

Technologies,

Inc.,

4.38%,

2/15/2030

a

36,000

37,800

Signature

Aviation

US

Holdings,

Inc.

5.38%,

5/01/2026

a

20,000

20,256

4.00%,

3/01/2028

a

40,000

38,700

Spirit

Aerosystems

,

Inc.

7.50%,

4/15/2025

a

50,000

50,445

3.85%,

6/15/2026

10,000

9,564

Spirit

AeroSystems

,

Inc.

3.95%,

6/15/2023

42,000

37,700

4.60%,

6/15/2028

22,000

18,293

SPX

FLOW,

Inc.,

5.88%,

8/15/2026

a

12,000

12,529

SSL

Robotics

LLC,

9.75%,

12/31/2023

a

30,000

33,375

Standard

Industries,

Inc.

5.00%,

2/15/2027

a

45,000

46,576

4.75%,

1/15/2028

a

30,000

31,341

4.38%,

7/15/2030

a

55,000

56,820

3.38%,

1/15/2031

a

45,000

43,821

Stericycle,

Inc.,

5.38%,

7/15/2024

a

20,000

20,784

Stevens

Holding

Co.,

Inc.,

6.13%,

10/01/2026

a

25,000

26,827

Summit

Materials

LLC

/

Summit

Materials

Finance

Corp.

5.13%,

6/01/2025

a

25,000

25,298

6.50%,

3/15/2027

a

25,000

26,217

5.25%,

1/15/2029

a

25,000

25,751

Teekay

Corp.,

9.25%,

11/15/2022

a

15,000

13,787

Teekay

Offshore

Partners

LP/

Teekay

Offshore

Finance

Corp.,

8.50%,

7/15/2023

a

20,000

16,847

Terex

Corp.,

5.63%,

2/01/2025

a

50,000

50,790

Tervita

Corp.,

7.63%,

12/01/2021

a

7,000

6,735

Titan

Acquisition

Ltd.

/

Titan

Co.-Borrower

LLC,

7.75%,

4/15/2026

a

20,000

20,059

TopBuild

Corp.,

5.63%,

5/01/2026

a

8,000

8,242

96

STATEMENT

OF

INVESTMENTS

(continued)

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Industrial

–

10.4%

(continued)

Transdigm

,

Inc.

8.00%,

12/15/2025

a

50,000

54,139

5.50%,

11/15/2027

55,000

53,681

TransDigm

,

Inc.

6.50%,

7/15/2024

60,000

60,181

6.50%,

5/15/2025

55,000

54,980

6.25%,

3/15/2026

a

175,000

182,492

6.38%,

6/15/2026

80,000

79,721

7.50%,

3/15/2027

10,000

10,330

Trident

TPI

Holdings,

Inc.,

9.25%,

8/01/2024

a

15,000

15,863

TriMas

Corp.,

4.88%,

10/15/2025

a

7,000

7,111

Trinity

Industries,

Inc.,

4.55%,

10/01/2024

15,000

15,403

Triumph

Group,

Inc.

5.25%,

6/01/2022

20,000

17,328

6.25%,

9/15/2024

a

20,000

17,287

7.75%,

8/15/2025

b

18,000

11,701

Trivium

Packaging

Finance

BV,

5.50%,

8/15/2026

a

75,000

78,846

TTM

Technologies,

Inc.,

5.63%,

10/01/2025

a

12,000

12,356

Tutor

Perini

Corp.,

6.88%,

5/01/2025

a,b

40,000

38,153

US

Concrete,

Inc.

6.38%,

6/01/2024

b

9,000

9,261

5.13%,

3/01/2029

a

25,000

25,448

Vertical

Holdco

GMBH,

7.63%,

7/15/2028

a

10,000

10,388

Vertical

US

Newco

,

Inc.,

5.25%,

7/15/2027

a

50,000

51,454

Waste

Pro

USA,

Inc.,

5.50%,

2/15/2026

a

27,000

27,278

Weekley

Homes

LLC

/

Weekley

Finance

Corp.,

4.88%,

9/15/2028

a

40,000

40,549

Welbilt

,

Inc.,

9.50%,

2/15/2024

b

25,000

25,359

Werner

FinCo

LP

/

Werner

FinCo

,

Inc.,

8.75%,

7/15/2025

a

25,000

23,812

WESCO

Distribution,

Inc.

5.38%,

6/15/2024

35,000

35,799

7.13%,

6/15/2025

a

50,000

53,948

7.25%,

6/15/2028

a

70,000

76,591

XPO

CNW,

Inc.,

6.70%,

5/01/2034

20,000

22,365

XPO

Logistics,

Inc.

6.50%,

6/15/2022

a

35,000

35,113

6.75%,

8/15/2024

a

63,000

66,629

6.25%,

5/01/2025

a

30,000

31,878

5,610,876

Technology

–

3.9%

Advanced

Micro

Devices,

Inc.,

7.50%,

8/15/2022

14,000

15,476

Ams

AG,

7.00%,

7/31/2025

a

10,000

10,591

Ascend

Learning

LLC

6.88%,

8/01/2025

a

25,000

25,575

6.88%,

8/01/2025

a

10,000

10,337

Banff

Merger

Sub,

Inc.,

9.75%,

9/01/2026

a

45,000

47,290

Black

Knight

Infoserv

LLC,

3.63%,

9/01/2028

a

65,000

65,780

Blackboard,

Inc.,

10.38%,

11/15/2024

a

18,000

18,154

BY

Crown

Parent

LLC

/

By

Bond

Finance,

Inc.,

4.25%,

1/31/2026

a

25,000

25,344

Camelot

Finance

SA,

4.50%,

11/01/2026

a

35,000

36,443

Castle

US

Holding

Corp.,

9.50%,

2/15/2028

a

30,000

28,453

CDK

Global,

Inc.

5.00%,

10/15/2024

20,000

21,639

5.88%,

6/15/2026

20,000

20,896

5.25%,

5/15/2029

a

25,000

26,823

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Technology

–

3.9%

(continued)

CDW

LLC

/

CDW

Finance

Corp.

5.50%,

12/01/2024

17,000

18,718

4.25%,

4/01/2028

35,000

36,172

Change

Healthcare

Holdings

LLC

/

Change

Healthcare

Finance,

Inc.,

5.75%,

3/01/2025

a

40,000

39,983

Dell,

Inc.

6.50%,

4/15/2038

7,000

8,385

5.40%,

9/10/2040

14,000

15,011

Diebold

Nixdorf,

Inc.

8.50%,

4/15/2024

b

5,000

4,550

9.38%,

7/15/2025

a

40,000

42,502

Donnelley

Financial

Solutions,

Inc.,

8.25%,

10/15/2024

33,000

34,650

Dun

&

Bradstreet

Corp.

(The)

6.88%,

8/15/2026

a

12,000

12,836

10.25%,

2/15/2027

a

30,000

33,599

EMC

Corp.,

3.38%,

6/01/2023

47,000

47,970

Entegris

,

Inc.,

4.63%,

2/10/2026

a

21,000

21,652

Exela

Intermediate

LLC

/

Exela

Finance,

Inc.,

10.00%,

7/15/2023

a

10,000

2,958

Genesys

Telecommunications

Laboratories,

Inc./

Greeneden

Lux

3

Sarl

/

Greeneden

US

Ho,

10.00%,

11/30/2024

a

20,000

21,101

Granite

Merger

Sub

2,

Inc.,

11.00%,

7/15/2027

a

20,000

21,977

j2

Cloud

Services

LLC

/

j2

Cloud

Co.-Obligor,

Inc.,

6.00%,

7/15/2025

a

70,000

73,342

Microchip

Technology,

Inc.,

4.25%,

9/01/2025

a

60,000

62,190

MSCI,

Inc.

4.75%,

8/01/2026

a

20,000

20,763

5.38%,

5/15/2027

a

45,000

48,164

4.00%,

11/15/2029

a

50,000

52,194

3.63%,

9/01/2030

a

12,000

12,383

3.88%,

2/15/2031

a

65,000

67,843

NCR

Corp.

8.13%,

4/15/2025

a

30,000

32,985

5.00%,

10/01/2028

a

40,000

39,800

6.13%,

9/01/2029

a

11,000

11,607

Nuance

Communications,

Inc.,

5.63%,

12/15/2026

50,000

52,563

Open

Text

Corp.

5.88%,

6/01/2026

a

60,000

62,530

3.88%,

2/15/2028

a

40,000

40,634

Open

Text

Holdings,

Inc.,

4.13%,

2/15/2030

a

45,000

46,864

Pitney

Bowes,

Inc.

5.95%,

4/01/2023

10,000

10,080

4.63%,

3/15/2024

b

38,000

36,958

Presidio

Holdings,

Inc.

4.88%,

2/01/2027

a

25,000

25,680

8.25%,

2/01/2028

a

15,000

15,917

PTC,

Inc.

3.63%,

2/15/2025

a

50,000

50,800

4.00%,

2/15/2028

a

27,000

27,917

Qorvo

,

Inc.,

4.38%,

10/15/2029

40,000

42,916

Rackspace

Technology

Global,

Inc.,

8.63%,

11/15/2024

a,b

30,000

31,293

Riverbed

Technology,

Inc.,

8.88%,

3/01/2023

a

10,000

6,915

Solera

LLC

/

Solera

Finance,

Inc.,

10.50%,

3/01/2024

a

60,000

62,282

SS&C

Technologies,

Inc.,

5.50%,

9/30/2027

a

75,000

79,767

97

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Technology

–

3.9%

(continued)

Tempo

Acquisition

LLC

/

Tempo

Acquisition

Finance

Corp.,

6.75%,

6/01/2025

a

70,000

71,049

Vericast

Corp.,

8.38%,

8/15/2022

a

20,000

19,656

Veritas

US,

Inc.

/

Veritas

Bermuda

Ltd.

10.50%,

2/01/2024

a,b

100,000

92,742

7.50%,

9/01/2025

a

65,000

65,879

Western

Digital

Corp.,

4.75%,

2/15/2026

75,000

80,751

Xerox

Corp.

4.38%,

3/15/2023

26,000

27,062

3.80%,

5/15/2024

b

8,000

8,226

4.80%,

3/01/2035

8,000

7,614

6.75%,

12/15/2039

11,000

11,564

2,113,795

Utilities

–

2.1%

AES

Corp.

(The),

6.00%,

5/15/2026

45,000

47,139

AmeriGas

Partners

LP

/

AmeriGas

Finance

Corp.

5.63%,

5/20/2024

27,000

28,754

5.50%,

5/20/2025

25,000

26,779

5.75%,

5/20/2027

15,000

16,545

Calpine

Corp.

5.25%,

6/01/2026

a

39,000

40,074

4.50%,

2/15/2028

a

56,000

56,953

5.13%,

3/15/2028

a

40,000

41,255

4.63%,

2/01/2029

a

20,000

20,192

5.00%,

2/01/2031

a

30,000

30,625

Clearway

Energy

Operating

LLC,

4.75%,

3/15/2028

a

55,000

57,801

DPL,

Inc.

4.13%,

7/01/2025

a

25,000

26,119

4.35%,

4/15/2029

12,000

13,024

NextEra

Energy

Operating

Partners

LP

4.25%,

7/15/2024

a

50,000

51,999

4.25%,

9/15/2024

a

45,000

46,959

3.88%,

10/15/2026

a

22,000

22,805

4.50%,

9/15/2027

a

10,000

10,956

NRG

Energy,

Inc.

7.25%,

5/15/2026

39,000

41,166

6.63%,

1/15/2027

35,000

36,822

5.75%,

1/15/2028

30,000

32,257

5.25%,

6/15/2029

a

70,000

75,990

Pattern

Energy

Operations

LP

/

Pattern

Energy

Operations,

Inc.,

4.50%,

8/15/2028

a

25,000

26,001

PG&E

Corp.,

5.25%,

7/01/2030

65,000

65,000

Rockpoint

Gas

Storage

Canada

Ltd.,

7.00%,

3/31/2023

a

20,000

18,645

Talen

Energy

Supply

LLC

6.50%,

6/01/2025

20,000

11,906

10.50%,

1/15/2026

a

20,000

13,659

7.25%,

5/15/2027

a

25,000

24,697

6.63%,

1/15/2028

a

35,000

33,619

7.63%,

6/01/2028

a

15,000

14,708

Terraform

Global

Operating

LLC,

6.13%,

3/01/2026

a

20,000

20,278

TransAlta

Corp.

4.50%,

11/15/2022

10,000

10,353

6.50%,

3/15/2040

25,000

26,422

BNY

Mellon

High

Yield

Beta

ETF

(continued)

Description

Principal

Amount

($)

Value

($)

Corporate

Bonds

–

97.8%

(continued)

Utilities

–

2.1%

(continued)

Vistra

Operations

Co.

LLC

5.50%,

9/01/2026

a

48,000

49,929

5.63%,

2/15/2027

a

56,000

58,520

5.00%,

7/31/2027

a

30,000

31,305

1,129,256

Total

Corporate

Bonds

(cost

$50,971,104)

52,867,861

Investment

Companies

–

1.3%

Shares

Registered

Investment

Companies

–

1.3%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

f,g

(cost

$707,896)

707,896

707,896

Investment

of

Cash

Collateral

for

Securities

Loaned

–

3.0%

Registered

Investment

Companies

–

3.0%

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares,

0.03%

f,g

(cost

$1,613,009)

1,613,009

1,613,009

Total

Investments

(cost

$53,292,009)

102.1%

55,188,766

Liabilities,

Less

Cash

and

Receivables

(2.1)%

(1,126,832)

Net

Assets

100.0%

54,061,934

REIT—Real

Estate

Investment

Trust

98

STATEMENT

OF

INVESTMENTS

(continued)

a

Security

exempt

from

registration

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933.

These

securities

may

be

resold

in

transactions

exempt

from

registration,

normally

to

qualified

institutional

buyers.

At

October

31,

2020,

these

securities

were

valued

at

$30,796,312

or

56.96%

of

net

asset.

b

Security,

or

portion

thereof,

on

loan.

At

October

31,

2020,

the

value

of

the

fund’s

securities

on

loan

was

$1,879,169

and

the

value

of

the

collateral

was

$1,968,384,

consisting

of

cash

collateral

of

$1,613,009

and

U.S.

Government

&

Agency

securities

valued

at

$355,375.

c

All

or

a

portion

of

this

security

is

Pay-in-Kind.

Pay-in-Kind

securities

pay

interest

income

in

the

form

of

securities.

d

Defaulted

security.

Currently,

the

issuer

is

in

default

with

respect

to

principal

and/or

interest

payments.

The

aggregate

value

of

these

securities

at

October

31,

2020

was

$25,886,

which

represented

0.05%

of

the

Fund’s

Net

Assets.

e

Denotes

a

zero

coupon

security

issued

at

a

substantial

discount

from

its

value

at

maturity.

f

Investment

in

affiliated

issuer.

The

investment

objective

of

this

investment

company

is

publicly

available

and

can

be

found

within

the

investment

company’s

prospectus.

Holdings

and

transactions

in

these

affiliated

companies

during

the

period

ended

October

31,

2020

are

as

follows:

g

The

rate

shown

is

the

1-day

yield

as

of

October

31,

2020.

See

Notes

to

Financial

Statements

Description

Value

4/24/20

Purchases

($)

1

Sales

($)

Net

Realized

Gain

(Loss)

($)

Net

Change

in

Unrealized

Appreciation

(Depreciation)

($)

Value

10/31/20

Net

Assets

(%)

Dividends/

Distributions

($)

Investment

Companies

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

10,431,800

(9,723,904)

—

—

707,896

1.3

205

Investment

of

Cash

Collateral

for

Securities

Loaned

Dreyfus

Institutional

Preferred

Government

Money

Market

Fund,

Institutional

Shares

—

4,654,348

(3,041,339)

—

—

1,613,009

3.0

4,089

2

Total

—

15,086,148

(12,765,243)

—

—

2,320,905

4.3

4,294

1

Includes

reinvested

dividends/distributions.

2

Represents

securities

lending

income

earned

from

the

reinvestment

of

cash

collateral

from

loaned

securities,

net

of

fees

and

collateral

investment

expenses,

and

other

payments

to

and

from

borrowers

of

securities.

Portfolio

Summary

(Unaudited)

†

Value

(%)

Consumer,

Cyclical

20.9

Communications

16.9

Consumer,

Non-cyclical

16.5

Energy

11.5

Financial

10.6

Industrial

10.4

Basic

Materials

4.9

Registered

Investment

Companies

4.3

Technology

3.9

Utilities

2.1

Diversified

0.1

102.1

†

Based

on

net

assets.

Centrally

Cleared

Credit

Default

Swaps

Reference

Obligation

Maturity

Date

Notional

Amount

($)

1

Market

Value

($)

Upfront

Payments/

(Receipts)

($)

Unrealized

Appreciation

(Depreciation)

($)

Sold

Contracts

2

CDX

North

American

High

Yield

Swap

12/20/2025

1,750,000

71,120

87,856

(16,736)

1

The

maximum

potential

amount

the

fund

could

be

required

to

pay

as

a

seller

of

credit

protection

or

receive

as

a

buyer

of

credit

protection

if

a

credit

event

occurs

as

defined

under

the

terms

of

the

swap

agreement.

2

If

the

fund

is

a

seller

of

protection

and

a

credit

event

occurs,

as

defined

under

the

terms

of

the

swap

agreement,

the

fund

will

either

(i)

pay

to

the

buyer

of

protection

an

amount

equal

to

the

notional

amount

of

the

swap

and

take

delivery

of

the

reference

obligation

or

(ii)

pay

a

net

settlement

amount

in

the

form

of

cash

or

securities

equal

to

the

notional

amount

of

the

swap

less

the

recovery

value

of

the

reference

obligation.

99

STATEMENTS

OF

ASSETS

AND

LIABILITIES

October

31,

2020

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Assets

($):

Investments

in

securities—See

Statements

of

Investments

†

(including

securities

on

loan)

††

—Note

2(c):

–

–

–

Unaffiliated

issuers

92,775,125‌

39,359,327‌

40,242,028‌

Affiliated

issuers

152,199‌

460,767‌

750,151‌

Receivable

for

investment

securities

sold

387,305‌

181,194‌

154,442‌

Dividends

receivable

91,240‌

16,556‌

10,800‌

Tax

reclaim

receivable

629‌

42‌

125‌

Securities

lending

income

receivable

77‌

298‌

1,091‌

93,406,575‌

40,018,184‌

41,158,637‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

—‌

1,286‌

1,410‌

Liability

for

securities

on

loan—Note

2(c)

35,514‌

330,606‌

696,717‌

Payable

for

investment

securities

purchased

326,000‌

290,723‌

158,317‌

361,514‌

622,615‌

856,444‌

Net

Assets

($)

93,045,061‌

39,395,569‌

40,302,193‌

Composition

of

Net

Assets

($):

Paid-in

capital

87,995,684‌

31,851,076‌

32,124,389‌

Total

distributable

earnings

(loss)

5,049,377‌

7,544,493‌

8,177,804‌

Net

Assets

($)

93,045,061‌

39,395,569‌

40,302,193‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

1,502,000‌

600,020‌

600,020‌

Net

asset

value

per

share

61.95‌

65.66‌

67.17‌

Market

price

per

share

61.82‌

65.55‌

67.03‌

†

Investments

at

cost

($)

Unaffiliated

issuers

87,433,841‌

31,665,140‌

31,652,810‌

Affiliated

issuers

152,199‌

460,767‌

750,151‌

††

Value

of

securities

on

loan

($)

1,843,982‌

1,524,431‌

4,517,618‌

100

STATEMENTS

OF

ASSETS

AND

LIABILITIES

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

Assets

($):

Investments

in

securities—See

Statements

of

Investments

†

(including

securities

on

loan)

††

—Note

2(c):

–

–

Unaffiliated

issuers

30,657,599‌

34,279,701‌

Affiliated

issuers

72,683‌

1,856,026‌

Cash

denominated

in

foreign

currency

†††

59,795‌

27,269‌

Dividends

receivable

78,344‌

18,888‌

Tax

reclaim

receivable

18,315‌

304‌

Securities

lending

income

receivable

1‌

285‌

30,886,737‌

36,182,473‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

1,099‌

3,236‌

Liability

for

securities

on

loan—Note

2(c)

26,856‌

1,827,114‌

Payable

for

investment

securities

purchased

23,800‌

—‌

Payable

for

futures

variation

margin—Note

4

1,020‌

1,380‌

52,775‌

1,831,730‌

Net

Assets

($)

30,833,962‌

34,350,743‌

Composition

of

Net

Assets

($):

Paid-in

capital

27,756,443‌

27,901,666‌

Total

distributable

earnings

(loss)

3,077,519‌

6,449,077‌

Net

Assets

($)

30,833,962‌

34,350,743‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

550,020‌

550,020‌

Net

asset

value

per

share

56.06‌

62.45‌

Market

price

per

share

56.66‌

62.92‌

†

Investments

at

cost

($)

Unaffiliated

issuers

27,393,929‌

27,797,730‌

Affiliated

issuers

72,683‌

1,856,026‌

††

Value

of

securities

on

loan

($)

26,561‌

2,248,098‌

†††

Cash

denominated

in

foreign

currency

(cost)

($)

59,663‌

27,685‌

101

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

Assets

($):

Investments

in

securities—See

Statements

of

Investments

†

(including

securities

on

loan)

††

—Note

2(c):

–

–

–

Unaffiliated

issuers

45,215,976‌

28,116,478‌

52,867,861‌

Affiliated

issuers

1,176,710‌

416,108‌

2,320,905‌

Collateral

with

brokers

for

swap

agreements

—‌

—‌

181,821‌

Receivable

for

investment

securities

sold

1,017,377‌

507,166‌

402,526‌

Receivable

for

shares

of

Beneficial

Interest

subscribed

737,338‌

—‌

—‌

Receivable

for

investment

securities

sold—TBA

320,009‌

—‌

—‌

Interest

receivable

243,270‌

209,889‌

811,358‌

Securities

lending

income

receivable

85‌

30‌

845‌

Dividends

receivable

25‌

6‌

24‌

48,710,790‌

29,249,677‌

56,585,340‌

Liabilities

($):

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC—Note

3(b)

—‌

1,442‌

10,141‌

TBA

sale

commitments

at

value—Note

4

†††

319,923‌

—‌

—‌

Liability

for

securities

on

loan—Note

2(c)

88,150‌

109,920‌

1,613,009‌

Payable

for

investment

securities

purchased

1,756,814‌

758,688‌

897,935‌

Payable

for

investment

securities

purchased—TBA

1,298,127‌

—‌

—‌

Payable

for

swaps

variation

margin—Note

4

—‌

—‌

2,321‌

3,463,014‌

870,050‌

2,523,406‌

Net

Assets

($)

45,247,776‌

28,379,627‌

54,061,934‌

Composition

of

Net

Assets

($):

Paid-in

capital

45,333,010‌

27,625,690‌

51,656,440‌

Total

distributable

earnings

(loss)

(85,234‌)

753,937‌

2,405,494‌

Net

Assets

($)

45,247,776‌

28,379,627‌

54,061,934‌

Shares

outstanding

no

par

value

(unlimited

shares

authorized):

900,020‌

550,020‌

1,000,020‌

Net

asset

value

per

share

50.27‌

51.60‌

54.06‌

Market

price

per

share

50.29‌

51.65‌

54.08‌

†

Investments

at

cost

($)

Unaffiliated

issuers

45,267,580‌

27,512,089‌

50,971,104‌

Affiliated

issuers

1,176,710‌

416,108‌

2,320,905‌

††

Value

of

securities

on

loan

($)

1,541,703‌

208,552‌

1,879,169‌

†††

TBA

sale

commitments

proceeds

($)

320,009‌

—‌

—‌

102

STATEMENTS

OF

OPERATIONS

For

the

Period

Ended

October

31,

2020

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

a

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

a

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

a

Investment

Income

($):

Income:

Cash

dividends:

Unaffiliated

issuers

†

489,391‌

279,847‌

289,194‌

Affiliated

issuers

30‌

22‌

26‌

Income

from

securities

lending—Note

2(c)

451‌

2,457‌

11,001‌

Total

Income

489,872‌

282,326‌

300,221‌

Expenses:

Management

fees—Note

3(a)

—‌

7,679‌

8,511‌

Total

Expenses

—‌

7,679‌

8,511‌

Investment

Income—Net

489,872‌

274,647‌

291,710‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

(394,824‌)

(168,366‌)

(426,592‌)

Net

realized

gain

(loss)

on

in-kind

redemptions

203,554‌

736,993‌

1,921,860‌

Net

realized

gain

(loss)

on

futures

—‌

—‌

871‌

Net

realized

gain

(loss)

(191,270‌)

568,627‌

1,496,139‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

5,341,284‌

7,694,187‌

8,589,218‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

5,150,014‌

8,262,814‌

10,085,357‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

5,639,886‌

8,537,461‌

10,377,067‌

†

Net

of

foreign

taxes

withheld

at

source

($)

–‌

20‌

134‌

a

For

the

period

April

9,

2020

(commencement

of

operations)

through

October

31,

2020.

103

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

a

BNY

Mellon

Emerging

Markets

Equity

ETF

a

Investment

Income

($):

Income:

Cash

dividends:

Unaffiliated

issuers

†

422,210‌

454,785‌

Affiliated

issuers

163‌

200‌

Interest

34‌

2‌

Income

from

securities

lending—Note

2(c)

73‌

1,987‌

Total

Income

422,480‌

456,974‌

Expenses:

Management

fees—Note

3(a)

6,531‌

18,357‌

Total

Expenses

6,531‌

18,357‌

Investment

Income—Net

415,949‌

438,617‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

and

foreign

currency

transactions

(274,288‌)

(164,526‌)

Net

realized

gain

(loss)

on

in-kind

redemptions

120,590‌

282,272‌

Net

realized

gain

(loss)

on

futures

67,479‌

113,301‌

Net

realized

gain

(loss)

(86,219‌)

231,047‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

and

foreign

currency

transactions

3,265,135‌

6,481,615‌

Net

change

in

unrealized

appreciation

(depreciation)

on

futures

(12,504‌)

(1,294‌)

Net

change

in

unrealized

appreciation

(depreciation)

3,252,631‌

6,480,321‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

3,166,412‌

6,711,368‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

3,582,361‌

7,149,985‌

†

Net

of

foreign

taxes

withheld

at

source

($)

50,536‌

61,984‌

a

For

the

period

April

24,

2020

(commencement

of

operations)

through

October

31,

2020.

104

STATEMENTS

OF

OPERATIONS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

a

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

a

BNY

Mellon

High

Yield

Beta

ETF

a

Investment

Income

($):

Income:

Cash

dividends:

Affiliated

issuers

183‌

82‌

205‌

Interest

194,845‌

250,483‌

1,440,993‌

Income

from

securities

lending—Note

2(c)

441‌

456‌

4,089‌

Total

Income

195,469‌

251,021‌

1,445,287‌

Expenses:

Management

fees—Note

3(a)

—‌

8,808‌

50,626‌

Total

Expenses

—‌

8,808‌

50,626‌

Investment

Income—Net

195,469‌

242,213‌

1,394,661‌

Realized

and

Unrealized

Gain

(Loss)

on

Investments—Note

4

($):

Net

realized

gain

(loss)

on

investments

4,042‌

111,233‌

281,692‌

Net

realized

gain

(loss)

on

swap

agreements

—‌

—‌

(8,436‌)

Net

realized

gain

(loss)

4,042‌

111,233‌

273,256‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

(51,518‌)

604,389‌

1,896,757‌

Net

change

in

unrealized

appreciation

(depreciation)

on

swap

agreements

—‌

—‌

(16,736‌)

Net

change

in

unrealized

appreciation

(depreciation)

(51,518‌)

604,389‌

1,880,021‌

Net

Realized

and

Unrealized

Gain

(Loss)

on

Investments

(47,476‌)

715,622‌

2,153,277‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

147,993‌

957,835‌

3,547,938‌

a

For

the

period

April

24,

2020

(commencement

of

operations)

through

October

31,

2020.

105

STATEMENTS

OF

CHANGES

IN

NET

ASSETS

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

For

the

Period

April

9,

2020

a

to

October

31,

2020

For

the

Period

April

9,

2020

a

to

October

31,

2020

Operations

($):

Investment

income—net

489,872‌

274,647‌

Net

realized

gain

(loss)

on

investments

(191,270‌)

568,627‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

5,341,284‌

7,694,187‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

5,639,886‌

8,537,461‌

Distributions

($):

Distributable

earnings

(386,114‌)

(255,842‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

90,618,689‌

34,179,337‌

Cost

of

shares

redeemed

(2,927,400‌)

(3,065,387‌)

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

87,691,289‌

31,113,950‌

Total

Increase

(Decrease)

in

Net

Assets

92,945,061‌

39,395,569‌

Net

Assets

($):

Beginning

of

Period

100,000‌

—‌

End

of

Period

93,045,061‌

39,395,569‌

Changes

in

Shares

Outstanding:

Initial

shares

2,000‌

—‌

Shares

sold

1,550,000‌

650,020‌

Shares

redeemed

(50,000‌)

(50,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

1,502,000‌

600,020‌

a

Commencement

of

operations.

106

STATEMENTS

OF

CHANGES

IN

NET

ASSETS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

BNY

Mellon

International

Equity

ETF

For

the

Period

April

9,

2020

a

to

October

31,

2020

For

the

Period

April

24,

2020

a

to

October

31,

2020

Operations

($):

Investment

income—net

291,710‌

415,949‌

Net

realized

gain

(loss)

on

investments

1,496,139‌

(86,219‌)

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

8,589,218‌

3,252,631‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

10,377,067‌

3,582,361‌

Distributions

($):

Distributable

earnings

(277,635‌)

(384,266‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

36,466,319‌

30,487,825‌

Cost

of

shares

redeemed

(6,263,558‌)

(2,851,958‌)

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

30,202,761‌

27,635,867‌

Total

Increase

(Decrease)

in

Net

Assets

40,302,193‌

30,833,962‌

Net

Assets

($):

Beginning

of

Period

—‌

—‌

End

of

Period

40,302,193‌

30,833,962‌

Changes

in

Shares

Outstanding:

Shares

sold

700,020‌

600,020‌

Shares

redeemed

(100,000‌)

(50,000‌)

Net

Increase

(Decrease)

in

Shares

Outstanding

600,020‌

550,020‌

a

Commencement

of

operations.

107

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

BNY

Mellon

Core

Bond

ETF

For

the

Period

April

24,

2020

a

to

October

31,

2020

For

the

Period

April

24,

2020

a

to

October

31,

2020

Operations

($):

Investment

income—net

438,617‌

195,469‌

Net

realized

gain

(loss)

on

investments

231,047‌

4,042‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

6,480,321‌

(51,518‌)

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

7,149,985‌

147,993‌

Distributions

($):

Distributable

earnings

(418,648‌)

(229,445‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

30,459,085‌

45,329,228‌

Cost

of

shares

redeemed

(2,839,679‌)

—‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

27,619,406‌

45,329,228‌

Total

Increase

(Decrease)

in

Net

Assets

34,350,743‌

45,247,776‌

Net

Assets

($):

Beginning

of

Period

—‌

—‌

End

of

Period

34,350,743‌

45,247,776‌

Changes

in

Shares

Outstanding:

Shares

sold

600,020‌

900,020‌

Shares

redeemed

(50,000‌)

—‌

Net

Increase

(Decrease)

in

Shares

Outstanding

550,020‌

900,020‌

a

Commencement

of

operations.

108

STATEMENTS

OF

CHANGES

IN

NET

ASSETS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

For

the

Period

April

24,

2020

a

to

October

31,

2020

For

the

Period

April

24,

2020

a

to

October

31,

2020

Operations

($):

Investment

income—net

242,213‌

1,394,661‌

Net

realized

gain

(loss)

on

investments

111,233‌

273,256‌

Net

change

in

unrealized

appreciation

(depreciation)

on

investments

604,389‌

1,880,021‌

Net

Increase

(Decrease)

in

Net

Assets

Resulting

from

Operations

957,835‌

3,547,938‌

Distributions

($):

Distributable

earnings

(203,898‌)

(1,142,444‌)

Shareholder

Transactions

($):

Proceeds

from

shares

sold

27,625,690‌

51,656,440‌

Increase

(Decrease)

in

Net

Assets

from

Beneficial

Interest

Transactions

27,625,690‌

51,656,440‌

Total

Increase

(Decrease)

in

Net

Assets

28,379,627‌

54,061,934‌

Net

Assets

($):

Beginning

of

Period

—‌

—‌

End

of

Period

28,379,627‌

54,061,934‌

Changes

in

Shares

Outstanding:

Shares

sold

550,020‌

1,000,020‌

Net

Increase

(Decrease)

in

Shares

Outstanding

550,020‌

1,000,020‌

a

Commencement

of

operations.

109

FINANCIAL

HIGHLIGHTS

The

following

tables

describe

the

performance

for

the

fiscal

periods

indicated

and

these

figures

have

been

derived

from

the

funds’

financial

statements.

See

Notes

to

Financial

Statements

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

For

the

Period

April

9,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50

.00‌

Investment

Operations:

Investment

income—net

b

0

.56‌

Net

realized

and

unrealized

gain

(loss)

on

investments

11

.81‌

Total

from

Investment

Operations

12

.37‌

Distributions:

Dividends

from

investment

income—net

(

0

.42‌

)

Net

asset

value,

end

of

period

61

.95‌

Market

price,

end

of

period

c

61

.82‌

Net

Asset

Value

Total

Return

(%)

d

24

.76‌

Market

Price

Total

Return

(%)

d

24

.50‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

e

Ratio

of

net

investment

income

to

average

net

assets

1

.63‌

e

Portfolio

Turnover

Rate

f

10

.62‌

Net

Assets,

end

of

period

($

x

1,000)

93,045‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

110

See

Notes

to

Financial

Statements

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

For

the

Period

April

9,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50.00‌

Investment

Operations:

Investment

income—

net

b

0.50‌

Net

realized

and

unrealized

gain

(loss)

on

investments

15.63‌

Total

from

Investment

Operations

16.13‌

Distributions:

Dividends

from

investment

income—net

(0.47‌)

Net

asset

value,

end

of

period

65.66‌

Market

price,

end

of

period

c

65.55‌

Net

Asset

Value

Total

Return

(%)

d

32.27‌

Market

Price

Total

Return

(%)

d

32.06‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.04‌

e

Ratio

of

net

investment

income

to

average

net

assets

1.43‌

e

Portfolio

Turnover

Rate

f

21.26‌

Net

Assets,

end

of

period

($

x

1,000)

39,396‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

111

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

For

the

Period

April

9,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50

.00‌

Investment

Operations:

Investment

income—net

b

0

.49‌

Net

realized

and

unrealized

gain

(loss)

on

investments

17

.14‌

Total

from

Investment

Operations

17

.63‌

Distributions:

Dividends

from

investment

income—net

(

0

.46‌

)

Net

asset

value,

end

of

period

67

.17‌

Market

price,

end

of

period

c

67

.03‌

Net

Asset

Value

Total

Return

(%)

d

35

.30‌

Market

Price

Total

Return

(%)

d

35

.03‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.04‌

e

Ratio

of

net

investment

income

to

average

net

assets

1

.37‌

e

Portfolio

Turnover

Rate

f

32

.54‌

Net

Assets,

end

of

period

($

x

1,000)

40,302‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

112

See

Notes

to

Financial

Statements

BNY

Mellon

International

Equity

ETF

For

the

Period

April

24,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50

.00‌

Investment

Operations:

Investment

income—net

b

0

.76‌

Net

realized

and

unrealized

gain

(loss)

on

investments

6

.00‌

Total

from

Investment

Operations

6

.76‌

Distributions:

Dividends

from

investment

income—net

(

0

.70‌

)

Net

asset

value,

end

of

period

56

.06‌

Market

price,

end

of

period

c

56

.66‌

Net

Asset

Value

Total

Return

(%)

d

13

.49‌

Market

Price

Total

Return

(%)

d

14

.69‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.04‌

e

Ratio

of

net

investment

income

to

average

net

assets

2

.55‌

e

Portfolio

Turnover

Rate

f

12

.82‌

Net

Assets,

end

of

period

($

x

1,000)

30,834‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

113

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Emerging

Markets

Equity

ETF

For

the

Period

April

24,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50

.00‌

Investment

Operations:

Investment

income—net

b

0

.81‌

Net

realized

and

unrealized

gain

(loss)

on

investments

12

.40‌

Total

from

Investment

Operations

13

.21‌

Distributions:

Dividends

from

investment

income—net

(

0

.76‌

)

Net

asset

value,

end

of

period

62

.45‌

Market

price,

end

of

period

c

62

.92‌

Net

Asset

Value

Total

Return

(%)

d

26

.52‌

Market

Price

Total

Return

(%)

d

27

.44‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0

.11‌

e

Ratio

of

net

investment

income

to

average

net

assets

2

.63‌

e

Portfolio

Turnover

Rate

f

12

.84‌

Net

Assets,

end

of

period

($

x

1,000)

34,351‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

114

See

Notes

to

Financial

Statements

BNY

Mellon

Core

Bond

ETF

For

the

Period

April

24,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50.00‌

Investment

Operations:

Investment

income—

net

b

0.32‌

Net

realized

and

unrealized

gain

(loss)

on

investments

0.33‌

Total

from

Investment

Operations

0.65‌

Distributions:

Dividends

from

investment

income—net

(0.38‌)

Net

asset

value,

end

of

period

50.27‌

Market

price,

end

of

period

c

50.29‌

Net

Asset

Value

Total

Return

(%)

d

1.30‌

Market

Price

Total

Return

(%)

d

1.33‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

–‌

e

Ratio

of

net

investment

income

to

average

net

assets

1.20‌

e

Portfolio

Turnover

Rate

f

27.32‌

Net

Assets,

end

of

period

($

x

1,000)

45,248‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

115

FINANCIAL

HIGHLIGHTS

(continued)

See

Notes

to

Financial

Statements

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

For

the

Period

April

24,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50.00‌

Investment

Operations:

Investment

income—

net

b

0.44‌

Net

realized

and

unrealized

gain

(loss)

on

investments

1.53‌

Total

from

Investment

Operations

1.97‌

Distributions:

Dividends

from

investment

income—net

(0.37‌)

Net

asset

value,

end

of

period

51.60‌

Market

price,

end

of

period

c

51.65‌

Net

Asset

Value

Total

Return

(%)

d

3.94‌

Market

Price

Total

Return

(%)

d

4.05‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.06‌

e

Ratio

of

net

investment

income

to

average

net

assets

1.65‌

e

Portfolio

Turnover

Rate

f

24.94‌

Net

Assets,

end

of

period

($

x

1,000)

28,380‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

116

See

Notes

to

Financial

Statements

BNY

Mellon

High

Yield

Beta

ETF

For

the

Period

April

24,

2020

a

to

October

31,

2020

Per

Share

Data

($):

Net

asset

value,

beginning

of

period

50.00‌

Investment

Operations:

Investment

income—

net

b

1.70‌

Net

realized

and

unrealized

gain

(loss)

on

investments

3.74‌

Total

from

Investment

Operations

5.44‌

Distributions:

Dividends

from

investment

income—net

(1.38‌)

Net

asset

value,

end

of

period

54.06‌

Market

price,

end

of

period

c

54.08‌

Net

Asset

Value

Total

Return

(%)

d

10.94‌

Market

Price

Total

Return

(%)

d

10.98‌

Ratios/Supplemental

Data

(%):

Ratio

of

total

expenses

to

average

net

assets

0.22‌

e

Ratio

of

net

investment

income

to

average

net

assets

6.06‌

e

Portfolio

Turnover

Rate

f

39.43‌

Net

Assets,

end

of

period

($

x

1,000)

54,062‌

a

Commencement

of

operations.

b

Based

on

average

shares

outstanding.

c

The

mean

between

the

last

bid

and

ask

prices.

d

Net

asset

value

total

return

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

at

net

asset

value

on

the

last

day

of

the

period.

Net

asset

value

total

return

includes

adjustments

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

and

as

such,

the

net

asset

value

for

financial

reporting

purposes

and

the

returns

based

upon

those

net

asset

values

may

differ

from

the

net

asset

value

and

returns

for

shareholder

transactions.

Market

price

total

return

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

sale

at

the

market

price

on

the

last

day

of

the

period.

Total

investment

returns

calculated

for

a

period

of

less

than

one

year

are

not

annualized.

e

Annualized.

f

Portfolio

turnover

rate

is

not

annualized

for

periods

less

than

one

year,

if

applicable,

and

does

not

include

securities

received

or

delivered

from

processing

creations

or

redemptions.

117

NOTES

TO

FINANCIAL

STATEMENTS

NOTE

1—Organization:

BNY

Mellon

ETF

Trust

(the

“Trust”)

had

no

operations

until

April

9,

2020 for

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

and

BNY

Mellon

US

Small

Cap

Core

Equity

ETF (commencement

of

operations)

and

April

24,

2020

for

BNY

Mellon

International

Equity

ETF,

BNY

Mellon

Emerging

Markets

Equity

ETF,

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF (commencement

of

operations)

other

than

matters

relating

to

its

organization

and

registration

as

a

Massachusetts

business

trust

under

the

Investment

Company

Act

of

1940,

as

amended

(the

“Act”),

as

an

open-end

management

investment

company.

The

Trust

operates

as

a

series

company

currently

consisting

of

eight

series,

including

the

following

diversified

funds:

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF,

BNY

Mellon

Emerging

Markets

Equity

ETF,

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

(each,

a

“fund”

and

collectively,

the

“funds”).

The

investment

objective

of

each

fund

is

to

seek

to

track

the

performance

of

an

underlying

index,

as

reflected

in

the

table below.

BNY

Mellon

ETF

Investment

Adviser,

LLC

(the

“Adviser”),

a

wholly-owned

subsidiary

of

The

Bank

of

New

York

Mellon

Corporation

(“BNY

Mellon”),

serves

as

each

fund’s

investment

adviser.

The

Bank

of

New

York

Mellon,

a

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

administrator,

custodian

and

transfer

agent

with

the

Trust.

Mellon

Investments

Corporation

(the

“Sub-Adviser”),

a

wholly-owned

subsidiary

of

BNY

Mellon

and

an

affiliate

of

the

Adviser,

serves

as

each

fund’s

sub-investment

adviser.

BNY

Mellon

Securities

Corporation

(the

“Distributor”),

a

wholly-owned

subsidiary

of

the

Adviser,

is

the

distributor

of

each

fund’s

shares.

†

Morningstar

®

is

a

service

mark

of

Morningstar,

Inc.

and

has

been

licensed

for

use

for

certain

purposes

by

the

Adviser.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

Morningstar,

and

Morningstar

makes

no

representation

regarding

the

advisability

of

investing

in

the

fund.

††

Bloomberg

®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

“Bloomberg”).

BARCLAYS

®

is

a

trademark

and

service

mark

of

Barclays

Bank

Plc

(collectively

with

its

affiliates,

“Barclays”),

used

under

license.

Bloomberg

or

Bloomberg’s

licensors,

including

Barclays,

own

all

proprietary

rights

in

the

Bloomberg

Barclays

Indices.

Neither

Bloomberg

nor

Barclays

is

affiliated

with

the

Trust,

and

neither

approves,

endorses,

reviews

or

recommends

the

fund.

Neither

Bloomberg

nor

Barclays

guarantees

the

timeliness,

accurateness

or

completeness

of

any

data

or

information

relating

to

the

index,

and

neither

shall

be

liable

in

any

way

to

the

Adviser,

investors

in

the

fund

or

other

third

parties

in

respect

of

the

use

or

accuracy

of

the

index

or

any

data

included

therein.

The

shares

of

the

funds

are

referred

to

herein

as

“Shares”

or

“fund’s

Shares.”

Each

fund’s

Shares

are

listed

and

traded

on

NYSE

Arca,

Inc.

The

market

price

of

each

Share

may

differ

to

some

degree

from

a

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.”

Creation

Units

are

issued

and

redeemed

principally

in

exchange

for

the

deposit

or

delivery

of

a

basket

of

securities.

Except

when

aggregated

in

Creation

Units

by

Authorized

Participants,

the

Shares

are

not

individually

redeemable

securities

of

the

funds.

Individual

fund

Shares

may

only

be

purchased

and

sold

on

the

NYSE

Arca,

Inc.,

other

national

securities

exchanges,

electronic

crossing

networks

and

other

alternative

trading

systems

through

your

broker-dealer

at

market

prices.

Because

fund

Shares

trade

at

market

prices

rather

than

at

NAV,

fund

Shares

may

trade

at

a

price

greater

than

NAV

(premium)

or

less

than

NAV

(discount).

When

buying

or

selling

Shares

in

the

secondary

market,

you

may

incur

costs

attributable

to

the

difference

between

the

highest

price

a

buyer

is

willing

to

pay

to

purchase

Shares

of

the

fund

(bid)

and

the

lowest

price

a

seller

is

willing

to

accept

for

Shares

of

the

fund

(ask).

NOTE

2—Significant

Accounting

Policies:

The

Financial

Accounting

Standards

Board

(“FASB”)

Accounting

Standards

Codification

(“ASC”)

is

the

exclusive

reference

of

authoritative

U.S.

generally

accepted

accounting

principles

(“GAAP”)

recognized

by

the

FASB

to

be

applied

by

nongovernmental

entities.

Rules

and

interpretive

releases

of

the

Securities

and

Exchange

Commission

(“SEC”)

under

authority

of

federal

laws

are

also

sources

of

authoritative

GAAP

for

SEC

registrants.

Each

fund

is

an

investment

company

and

applies

the

accounting

and

reporting

guidance

of

the

FASB

ASC

Topic

946

Financial

Services-Investment

Companies.

Each

fund’s

financial

statements

are

prepared

in

accordance

with

GAAP,

which

may

require

the

use

of

management

estimates

and

assumptions.

Actual

results

could

differ

from

those

estimates. 

As

of October

31,

2020,

MBC

Investments

Corp.,

an

indirect

subsidiary

of

BNY

Mellon,

held 2,000

shares

of

BNY

Mellon

US

Large

Cap

Core

Equity

ETF.

The

Trust

accounts

separately

for

the

assets,

liabilities

and

operations

of

each

fund.

Expenses

directly

attributable

to

each

fund

are

charged

to

that

fund’s

operations;

expenses

which

are

applicable

to

all

funds

are

allocated

among

them

on

a

pro

rata

basis.

 Fund

Name

Underlying

Index

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Morningstar®

US

Large

Cap

Index

SM

†

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Morningstar®

US

Mid

Cap

Index

SM

†

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Morningstar®

US

Small

Cap

Index

SM

†

BNY

Mellon

International

Equity

ETF

Morningstar®

Developed

Markets

ex-US

Large

Cap

Index

SM

†

BNY

Mellon

Emerging

Markets

Equity

ETF

Morningstar®

Emerging

Markets

Large

Cap

Index

SM

†

BNY

Mellon

Core

Bond

ETF

Bloomberg

Barclays

US

Aggregate

Total

Return

Index

††

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Bloomberg

Barclays

US

Corporate

1-5

Years

Total

Return

Index

††

BNY

Mellon

High

Yield

Beta

ETF

Bloomberg

Barclays

US

Corporate

High

Yield

Total

Return

Index

††

118

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

The

Trust

enters

into

contracts

that

contain

a

variety

of

indemnifications.

The

funds’

maximum

exposure

under

these

arrangements

is

unknown.

The

funds

do

not

anticipate

recognizing

any

loss

related

to

these

arrangements. 

(a)

Portfolio

valuation:

The

fair

value

of

a

financial

instrument

is

the

amount

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date

(i.e.,

the

exit

price).

GAAP

establishes

a

fair

value

hierarchy

that

prioritizes

the

inputs

of

valuation

techniques

used

to

measure

fair

value.

This

hierarchy

gives

the

highest

priority

to

unadjusted

quoted

prices

in

active

markets

for

identical

assets

or

liabilities

(Level

1

measurements)

and

the

lowest

priority

to

unobservable

inputs

(Level

3

measurements).

Additionally,

GAAP

provides

guidance

on

determining

whether

the

volume

and

activity

in

a

market

has

decreased

significantly

and

whether

such

a

decrease

in

activity

results

in

transactions

that

are

not

orderly.

GAAP

requires

enhanced

disclosures

around

valuation

inputs

and

techniques

used

during

annual

and

interim

periods.

Various

inputs

are

used

in

determining

the

value

of

each

fund’s

investments

relating

to

fair

value

measurements.

These

inputs

are

summarized

in

the

three

broad

levels

listed

below:

Level

1

—unadjusted

quoted

prices

in

active

markets

for

identical

investments.

Level

2

—other

significant

observable

inputs

(including

quoted

prices

for

similar

investments,

interest

rates,

prepayment

speeds,

credit

risk,

etc.).

Level

3

—significant

unobservable

inputs

(including

the

funds’

own

assumptions

in

determining

the

fair

value

of

investments).

The

inputs

or

methodology

used

for

valuing

securities

are

not

necessarily

an

indication

of

the

risk

associated

with

investing

in

those

securities.

Changes

in

valuation

techniques

may

result

in

transfers

in

or

out

of

an

assigned

level

within

the

disclosure

hierarchy.

Valuation

techniques

used

to

value

each

fund’s

investments

are

as

follows:

Investments

in

equity

securities,

including

ETFs

(but

not

including

investments

in

other

open-end

registered

investment

companies)

are

valued

at

the

last

sales

price

on

the

securities

exchange

or

national

securities

market

on

which

such

securities

are

primarily

traded.

Securities

listed

on

the

National Association

of

Securities

Dealers

Automated

Quotation

System

for

which

market

quotations

are

available

are

valued

at

the

official

closing

price

or,

if

there

is

no

official

closing

price

that

day,

at

the

last

sales

price.

For

open

short

positions,

asked

prices

are

used

for

valuation

purposes.

Bid

price

is

used

when

no

asked

price

is

available.

Registered

investment

companies

that

are

not

traded

on

an

exchange

are

valued

at

their

net

asset

value.

All

of

the

preceding

securities

are

generally

categorized

within

Level

1

of

the

fair

value

hierarchy.

Investments

in

debt

securities

excluding

short-term

investments

(other

than

U.S.

Treasury

Bills),

are

valued

each

business

day

by

one

or

more

independent

pricing

services

(each,

a

“Service”)

approved

by

the

Trust’s

Board

of

Trustees

(the

“Board”).

Investments

for

which

quoted

bid

prices

are

readily

available

and

are

representative

of

the

bid

side

of

the

market

in

the

judgment

of

the

Service

are

valued

at

the

quoted

bid

prices

(as

obtained

by

the

Service

from

dealers

in

such

securities).

Securities

are

valued

as

determined

by

a

Service,

based

on

methods

which

include

consideration

of

the

following:

yields

or

prices

of

securities

of

comparable

quality,

coupon,

maturity

and

type;

indications

as

to

values

from

dealers;

and

general

market

conditions.

These

securities

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy.

Each

Service

and

independent

valuation

firm

is

engaged

under

the

general

oversight

of

the

Board.

When

market

quotations

or

official

closing

prices

are

not

readily

available,

or

are

determined

not

to

reflect

accurately

fair

value,

such

as

when

the

value

of

a

security

has

been

significantly

affected

by

events

after

the

close

of

the

exchange

or

market

on

which

the

security

is

principally

traded

(for

example,

a

foreign

exchange

or

market),

but

before

the

funds

calculate

their

net

asset

value,

the

funds

may

value

these

investments

at

fair

value

as

determined

in

accordance

with

the

procedures

approved

by

the

Board.

Certain

factors

may

be

considered

when

fair

valuing

investments

such

as:

fundamental

analytical

data,

the

nature

and

duration

of

restrictions

on

disposition,

an

evaluation

of

the

forces

that

influence

the

market

in

which

the

securities

are

purchased

and

sold,

and

public

trading

in

similar

securities

of

the

issuer

or

comparable

issuers.

These

securities

are

either

categorized

within

Level

2

or

3

of

the

fair

value

hierarchy

depending

on

the

relevant

inputs

used.

For

securities

where

observable

inputs

are

limited,

assumptions

about

market

activity

and

risk

are

used

and

are

generally

categorized

within

Level

3

of

the

fair

value

hierarchy.

Investments

denominated

in

foreign

currencies

are

translated

to

U.S.

dollars

at

the

prevailing

rates

of

exchange.

Futures,

which

are

traded

on

an

exchange,

are

valued

at

the

last

sales

price

on

securities

exchange

on

which

such

contracts

are

primarily

traded

or

at

the

last

sales

price

on

the

exchange

on

each

business

day and

are

generally

categorized

within

Level

1

of

the

fair

value

hierarchy.

Swaps

are

valued

by

the

Service

by

using

a

swap

pricing

model

which

incorporates

among

other

factors,

default

probabilities,

recovery

rates,

credit

curves

of

the

underlying

issuer

and

swap

spreads

on

interest

rates

and

are

generally

categorized

within

Level

2

of

the

fair

value

hierarchy. 

The

table

below

summarizes

the

inputs

used

as

of October

31,

2020

in

valuing

each

fund’s

investments:

119

Fair

Value

Measurements

Investments

in

Securities

†

Level

1

—

Unadjusted

Quoted

Prices

Level

2

—

Other

Significant

Observable

Inputs

Level

3

—

Significant

Unobservable

Inputs

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

Common

Stocks

92,775,125

—

—

—

—

—

92,775,125

Investment

Companies

116,685

—

—

—

—

—

116,685

Investment

of

Cash

Collateral

for

Securities

Loaned

35,514

—

—

—

—

—

35,514

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

Common

Stocks

39,359,327

—

—

—

—

—

39,359,327

Investment

Companies

130,161

—

—

—

—

—

130,161

Investment

of

Cash

Collateral

for

Securities

Loaned

330,606

—

—

—

—

—

330,606

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Common

Stocks

40,242,028

—

—

—

—

—

40,242,028

Investment

Companies

53,434

—

—

—

—

—

53,434

Investment

of

Cash

Collateral

for

Securities

Loaned

696,717

—

—

—

—

—

696,717

BNY

Mellon

International

Equity

ETF

Common

Stocks

30,461,529

—

0

—

—

—

30,461,529

Preferred

Stocks

161,081

—

—

—

—

—

161,081

Short-Term

Investments

—

—

34,989

—

—

—

34,989

Investment

Companies

45,827

—

—

—

—

—

45,827

Investment

of

Cash

Collateral

for

Securities

Loaned

26,856

—

—

—

—

—

26,856

Other

Financial

Instruments:

Futures

††

—

(12,504)

—

—

—

—

(12,504)

BNY

Mellon

Emerging

Markets

Equity

ETF

Common

Stocks

30,164,228

—

—

—

—

—

30,164,228

Preferred

Stocks

726,938

—

—

—

—

—

726,938

Exchange-Traded

Funds

3,343,549

—

—

—

—

—

3,343,549

Short-Term

Investments

—

—

44,986

—

—

—

44,986

Investment

Companies

28,912

—

—

—

—

—

28,912

Investment

of

Cash

Collateral

for

Securities

Loaned

1,827,114

—

—

—

—

—

1,827,114

Other

Financial

Instruments:

Futures

††

—

(1,294)

—

—

—

—

(1,294)

BNY

Mellon

Core

Bond

ETF

Asset-Backed

Securities

—

—

116,105

—

—

—

116,105

Commercial

Mortgage-Backed

Securities

—

—

572,057

—

—

—

572,057

Corporate

Bonds

—

—

12,678,265

—

—

—

12,678,265

Foreign

Governmental

—

—

924,251

—

—

—

924,251

Municipal

Securities

—

—

148,418

—

—

—

148,418

Supranational

Bank

—

—

508,475

—

—

—

508,475

U.S.

Government

Agencies

Mortgage-Backed

—

—

13,592,651

—

—

—

13,592,651

U.S.

Treasury

Government

Securities

—

—

16,675,754

—

—

—

16,675,754

Investment

Companies

1,088,560

—

—

—

—

—

1,088,560

Investment

of

Cash

Collateral

for

Securities

Loaned

88,150

—

—

—

—

—

88,150

TBA

Sale

Commitments

—

—

—

(319,923)

—

—

(319,923)

120

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

(b)

Foreign

currency

transactions:

 BNY

Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

Equity

ETF

do

not

isolate

that

portion

of

the

results

of

operations

resulting

from

changes

in

foreign

exchange

rates

on

investments

from

the

fluctuations

arising

from

changes

in

the

market

prices

of

securities

held.

Such

fluctuations

are

included

with

the

net

realized

and

unrealized

gain

or

loss

on

investments.

Net

realized

foreign

exchange

gains

or

losses

arise

from

sales

of

foreign

currencies,

currency

gains

or

losses

realized

on

securities

transactions

between

trade

and

settlement

date,

and

the

difference

between

the

amounts

of

dividends,

interest

and

foreign

withholding

taxes

recorded

on

the

funds’

books

and

the

U.S.

dollar

equivalent

of

the

amounts

actually

received

or

paid.

Net

unrealized

foreign

exchange

gains

and

losses

arise

from

changes

in

the

value

of

assets

and

liabilities

other

than

investments

resulting

from

changes

in

exchange

rates.

Foreign

currency

gains

and

losses

on

foreign

currency

transactions

are

also

included

with

net

realized

and

unrealized

gain

or

loss

on

investments.

Foreign

Taxes:

The

funds

may

be

subject

to

foreign

taxes

(a

portion

of

which

may

be

reclaimable)

on

income,

stock

dividends,

realized

and

unrealized

capital

gains

on

investments

or

certain

foreign

currency

transactions.

Foreign

taxes

are

recorded

in

accordance

with

the

applicable

foreign

tax

regulations

and

rates

that

exist

in

the

foreign

jurisdictions

in

which

the

funds

invest.

These

foreign

taxes,

if

any,

are

paid

by

the

funds

and

are

reflected

in

the

Statements

of

Operations,

if

applicable.

Foreign

taxes

payable

or

deferred

or

those

subject

to

reclaims as

of October

31,

2020,

if

any,

are

disclosed

in

the

funds’

Statements

of

Assets

and

Liabilities.

(c)

Securities

transactions

and

investment

income:

Securities

transactions

are

recorded

on

a

trade

date

basis.

Realized

gains

and

losses

from

securities

transactions

are

recorded

on

the

identified

cost

basis.

Dividend

income

is

recognized

on

the

ex-dividend

date

and

interest

income,

including,

where

applicable,

accretion

of

discount

and

amortization

of

premium

on

investments,

is

recognized

on

the

accrual

basis.

Pursuant

to

a

securities

lending

agreement

with

BNY

Mellon,

the

funds

may

lend

securities

to

qualified

institutions.

It

is

the

funds’

policy

that,

at

origination,

all

loans

are

secured

by

collateral

of

at

least

102%

of

the

value

of

U.S.

securities

loaned

and

105%

of

the

value

of

foreign

securities

loaned.

Collateral

equivalent

to

at

least

100%

of

the

market

value

of

securities

on

loan

is

maintained

at

all

times.

Collateral

is

either

in

the

form

of

cash,

which

can

be

invested

in

certain

money

market

mutual

funds

managed

by

the

Adviser,

or

U.S.

Government

and

Agency

securities.

The

funds

are

entitled

to

receive

all

dividends,

interest

and

distributions

on

securities

loaned,

in

addition

to

income

earned

as

a

result

of

the

lending

transaction.

Should

a

borrower

fail

to

return

the

securities

in

a

timely

manner,

The

Bank

of

New

York

Mellon

is

required

to

replace

the

securities

for

the

benefit

of

the

funds

or

credit

the

funds

with

the

market

value

of

the

unreturned

securities

and

is

subrogated

to

the

funds’

rights

against

the

borrower

and

the

collateral.

Additionally,

the

contractual

maturity

of

security

lending

transactions

are

on

an

overnight

and

continuous

basis.

The

table

below

summarizes

the

amount BNY

Mellon

earned

from

each

relevant

fund

from

lending

portfolio

securities,

pursuant

to

the

securities

lending

agreement

during

the

year

ended

October

31,

2020.

Investments

in

Securities

†

Level

1

—

Unadjusted

Quoted

Prices

Level

2

—

Other

Significant

Observable

Inputs

Level

3

—

Significant

Unobservable

Inputs

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Assets

($)

Liabilities

($)

Total

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

Corporate

Bonds

—

—

28,116,478

—

—

—

28,116,478

Investment

Companies

306,188

—

—

—

—

—

306,188

Investment

of

Cash

Collateral

for

Securities

Loaned

109,920

—

—

—

—

—

109,920

BNY

Mellon

High

Yield

Beta

ETF

Corporate

Bonds

—

—

52,867,861

—

—

—

52,867,861

Investment

Companies

707,896

—

—

—

—

—

707,896

Investment

of

Cash

Collateral

for

Securities

Loaned

1,613,009

—

—

—

—

—

1,613,009

Other

Financial

Instruments:

Centrally

Cleared

Credit

Default

Swaps

††

—

—

—

(16,736)

—

—

(16,736)

†

See

Statement

of

Investments

for

additional

detailed

categorizations,

if

any.

††

Amount

shown

represents

unrealized

appreciation

(depreciation)

at

period

end,

but

only

variation

margin

on

exchange

traded

and

centrally

cleared

derivatives,

if

any,

are

reported

in

the

Statement

of

Assets

and

liabilities.

121

Securities

Lending

Agreement

(d)

Affiliated

issuers:

Investments

in

other

investment

companies

advised

by

the

Adviser

are

defined

as

“affiliated”

under

the

Act.

(e)

Risk:

Certain

events

particular

to

the

industries

in

which

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

investments

conduct

their

operations,

as

well

as

general

economic,

political

and

public

health

conditions,

may

have

a

significant

negative

impact

on

the

investee’s

operations

and

profitability.

BNY Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

ETF

invest

in

foreign

markets

which

may

involve

special

risks

and

considerations

not

typically

associated

with

investing

in

the

U.S.

These

risks

include

revaluation

of

currencies,

high

rates

of

inflation,

repatriation

restrictions

on

income

and

capital,

and

adverse

political,

economic

developments

and

public

health

conditions.

Moreover,

securities

issued

in

these

markets

may

be

less

liquid,

subject

to

government

ownership

controls

and

delayed

settlements,

and

their

prices

may

be

more

volatile

than

those

of

comparable

securities

in

the

U.S.

The BNY

Mellon

Emerging

Markets

Equity

ETF follows

an

investment

policy

of

investing

primarily

in

emerging

market

countries.

Because

the

fund’s

investments

are

concentrated

in

emerging

market

countries,

the

fund’s

performance

is

expected

to

be

closely

tied

to

social,

political

and

economic

conditions

within

such

countries

and

to

be

more

volatile

than

the

performance

of

more

geographically

diversified

funds. 

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

each

fund.

Global

economies

and

financial

markets

are

becoming

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

world-wide.

Recent

examples

include

pandemic

risks

related

to

COVID-19

and

aggressive

measures

taken

world-wide

in

response

by

governments,

including

closing

borders,

restricting

international

and

domestic

travel,

and

the

imposition

of

prolonged

quarantines

of

large

populations,

and

by

businesses,

including

changes

to

operations

and

reducing

staff.

To

the

extent

the

funds

may

overweight

its

investments

in

certain

countries,

companies,

industries

or

market

sectors,

such

positions

will

increase

each

fund’s

exposure

to

risk

of

loss

from

adverse

developments

affecting

those

countries,

companies,

industries

or

sectors. 

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

invests

in

debt

securities.

Failure

of

an

issuer

of

the

debt

securities

to

make

timely

interest

or

principal

payments,

or

a

decline

or

the

perception

of

a

decline

in

the

credit

quality

of

a

debt

security,

can

cause

the

debt

security’s

price

to

fall,

potentially

lowering

the

fund’s

share

price.

High

Yield

(“junk”)

bonds

involve

greater

credit

risk,

including

the

risk

of

default,

than

investment

grade

bonds,

and

are

considered

predominantly

speculative

with

respect

to

the

issuer’s

continuing

ability

to

make

principal

and

interest

payments.

In

addition,

the

value

of

debt

securities

may

decline

due

to

general

market

conditions

that

are

not

specifically

related

to

a

particular

issuer,

such

as

real

or

perceived

adverse

economic

conditions,

changes

in

outlook

for

corporate

earnings,

changes

in

interest

or

currency

rates

or

adverse

investor

sentiment.

They

may

also

decline

because

of

factors

that

affect

a

particular

industry.

(f)

Dividends

and

distributions

to

shareholders:

Dividends

and

distributions

payable

to

shareholders

are

recorded

by

each

fund

on

the

ex-dividend

date.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

Equity

ETF

normally

declare

and

pay

dividends

from

investment

income-net

quarterly.

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF

normally

declares

and

pays

dividends

from

investment

income-net

monthly.

Income

dividends

for

each

fund

may

vary

significantly

from

period

to

period. Dividends

from

net

realized

capital

gains,

if

any,

are

normally

declared

and

paid

annually,

but

each

fund

may

make

distributions

on

a

more

frequent

basis

to

comply

with

the

distribution

requirements

of

the

Internal

Revenue

Code

of

1986,

as

amended

(the

“Code”).

To

the

extent

that

net

realized

capital

gains

can

be

offset

by

capital

loss

carryovers

of

a

fund,

it

is

the

policy

of

each

fund

not

to

distribute

such

gains.

Income

and

capital

gain

distributions

are

determined

in

accordance

with

income

tax

regulations,

which

may

differ

from

GAAP.

(g)

Federal

income

taxes:

It

is

the

policy

of

each

fund

to

continue

to

qualify

as

a

regulated

investment

company,

if

such

qualification

is

in

the

best

interests

of

its

shareholders,

by

complying

with

the

applicable

provisions

of

the

Code,

and

to

make

distributions

of

taxable

income

sufficient

to

relieve

it

from

substantially

all

federal

income

and

excise

taxes.

For

federal

income

tax

purposes,

each

fund

is

treated

as

a

separate

entity

for

the

purpose

of

determining

such

qualification.

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

82

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

432

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,945

BNY

Mellon

International

Equity

ETF

13

BNY

Mellon

Emerging

Markets

Equity

ETF

366

BNY

Mellon

Core

Bond

ETF

78

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

81

BNY

Mellon

High

Yield

Beta

ETF

727

122

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

As

of

and

during

the

period

ended October

31,

2020,

the

funds

did

not

have

any

liabilities

for

any

uncertain

tax

positions.

Each

fund

recognizes

interest

and

penalties,

if

any,

related

to

uncertain

tax

positions

as

income

tax

expense

in

the

Statements

of

Operations.

During

the

period

ended October

31,

2020,

the

funds

did

not

incur

any

interest

or

penalties.

The

table below

summarizes

each

fund’s

components

of

accumulated

earnings

on

a

tax

basis

at October

31,

2020.

The

funds

are

permitted

to

carry

forward

capital

losses

for

an

unlimited

period.

Furthermore,

capital

loss

carryovers

retain

their

character

as

either

short-term

or

long-term

capital

losses.

Components

of

Accumulated

Earnings

The

table below summarizes

each

relevant

fund’s

accumulated

capital

loss

carryover

available

for

federal

income

tax

purposes

to

be

applied

against

future

net

realized

capital

gains,

if

any,

realized

subsequent

to October

31,

2020.

Capital

Loss

Carryover

The

table below

summarizes

each

fund’s

tax

character

of

distributions

paid

to

shareholders

during

the

fiscal

period

ended October

31,

2020.

Tax

Character

of

Distributions

Paid

During

the

period

ended

October

31,

2020,

as

a

result

of

permanent

book

to

tax

differences,

each

relevant

fund

decreased

total

distributable

earnings

(loss)

and

increased

paid-in

capital

as

summarized

in

Table

below.

These

permanent

book

to

tax

differences

are

primarily

due

to

the

tax

treatment

for

in-kind

transactions

and

foreign

currency

transactions

reclassification.

Net

assets

and

net

asset

value

per

share

were

not

affected

by

these

reclassifications.  

Undistributed

Ordinary

Income

Accumulated

Capital

(losses)

Undistributed

Capital

Gains

Unrealized

Appreciation

(Depreciation)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$100,703

$(349,459)

$

-

$5,298,133

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

13,746

(155,353)

-

7,686,100

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

13,651

(366,346)

-

8,530,499

BNY

Mellon

International

Equity

ETF

88,876

(212,041)

-

3,200,684

BNY

Mellon

Emerging

Markets

Equity

ETF

208,633

(81,427)

-

6,321,871

BNY

Mellon

Core

Bond

ETF

61,651

(89,446)

-

(57,439)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

149,548

-

-

604,389

BNY

Mellon

High

Yield

Beta

ETF

517,676

-

-

1,887,818

Short-Term

Losses

Long-Term

Losses

Total

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$349,459

$

-

$349,459

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

155,353

-

155,353

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

366,346

-

366,346

BNY

Mellon

International

Equity

ETF

212,041

-

212,041

BNY

Mellon

Emerging

Markets

Equity

ETF

81,427

-

81,427

BNY

Mellon

Core

Bond

ETF

89,446

-

89,446

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-

-

-

BNY

Mellon

High

Yield

Beta

ETF

-

-

-

Ordinary

Income

†

Long-Term

Capital

Gains

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$386,114

$

-

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

255,842

-

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

277,635

-

BNY

Mellon

International

Equity

ETF

384,266

-

BNY

Mellon

Emerging

Markets

Equity

ETF

418,648

-

BNY

Mellon

Core

Bond

ETF

229,445

-

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

203,898

-

BNY

Mellon

High

Yield

Beta

ETF

1,142,444

-

†

Includes

short-term

capital

gain

distributions,

if

any.

123

Return

of

Capital

Statement

of

Position

(f)

New

Accounting

Pronouncement:

In

March

2020,

the

FASB

issued

Accounting

Standards

Update

2020-04,

Reference

Rate

Reform

(Topic

848)-Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting

(“ASU

2020-

04”),

which

provides

optional,

temporary

relief

with

respect

to

the

financial

reporting

of

contracts

subject

to

certain

types

of

modifications

due

to

the

planned

discontinuation

of

the

London

Interbank

Offered

Rate

(“LIBOR”)

and

other

IBOR-

based

reference

rates

as

of

the

end

of

2021.

The

temporary

relief

provided

by

ASU

2020-04

is

effective

for

certain

reference

rate-related

contract

modifications

that

occur

during

the

period

from

March

12,

2020

through

December

31,

2022.

Management

is

evaluating

the

impact

of

ASU

2020-04

on

the

fund’s

investments,

derivatives,

debt

and

other

contracts

that

will

undergo

reference

rate-related

modifications

as

a

result

of

the

reference

rate

reform.

NOTE

3—Management

Fee,

Sub-Investment

Advisory

Fee

and

Other

Transactions

with

Affiliates:

(a)

Fees

payable

by

the

funds

pursuant

to

the

provisions

of

a

management

agreement

with

the

Adviser

are

payable

monthly,

computed

at

an

annual

rate on

the

average

daily

value

of

each

fund’s

net

assets

of

which

are

summarized

in

the

table

below.

Management

Agreement

Fees

For

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF,

BNY

Mellon

Emerging

Markets

Equity

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

and

BNY

Mellon

High

Yield

Beta

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

will

pay

substantially

all

expenses

of

such

fund,

except

for

the

management

fees,

payments

under

the

fund’s

12b-

1

plan

(if

any),

interest

expenses,

taxes,

acquired

fund

fees

and

expenses,

brokerage

commissions,

costs

of

holding

shareholder

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business.

For

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

and

the

BNY

Mellon

Core

Bond

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

will

pay

substantially

all

expenses

of

such

fund,

except

for

the

interest

expenses,

taxes,

brokerage

commissions,

costs

of

holding

shareholder

meetings,

fees

and

expenses

associated

with

the

fund’s

securities

lending

program,

and

litigation

and

potential

litigation

and

other

extraordinary

expenses

not

incurred

in

the

ordinary

course

of

the

fund’s

business.

For

the

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

and

the

BNY

Mellon

Core

Bond

ETF,

each

fund’s

management

agreement

provides

that

the

Adviser

will pay

all

acquired

fund

fees

and

expenses.

The

Adviser

may

from

time

to

time

voluntarily

waive

and/or

reimburse

fees

or

expenses

in

order

to

limit

total

annual

fund

operating

expenses.

Any

such

voluntary

waiver

or

reimbursement

may

be

eliminated

by

the

Adviser

at

any

time.

During

the

period

ended October

31,

2020,

there

were

no

reduction

in

expenses

pursuant

to

the

undertaking. 

Pursuant

to

a

sub-investment

advisory

agreement

between

the

Adviser

and

the

Sub-Adviser,

the

Sub-Adviser

serves

as

each

fund’s

sub-investment

adviser

responsible

for

the

day-to-day

management

of

each

fund’s

portfolio.

The

Adviser

pays

the

sub-investment

adviser

a

monthly

fee

at

an

annual

percentage

of

the

value

of

each

fund’s

average

daily

net

assets.

The

Adviser

has

obtained

an

exemptive

order

from

the

SEC

(the

“Order”),

upon

which

each

fund

may

rely,

to

use

a

manager

of

managers

approach

that

permits

the

Adviser,

subject

to

certain

conditions

and

approval

by

the

Board,

to

enter

into

and

materially

amend

sub-investment

advisory

agreements

with

one

or

more

sub-

investment

advisers

who

are

either

unaffiliated

or

affiliated

with

the

Adviser

without

obtaining

shareholder

approval.

The

Order

also

relieves

each

fund

from

disclosing

the

sub-investment

advisory

fee

paid

by

the

Adviser

to

a

sub-adviser

in

documents

filed

with

the

SEC

and

provided

to

shareholders.

In

addition,

pursuant

to

the

Order,

it

is

not

necessary

to

disclose

the

sub-

investment

advisory

fee

payable

by

the

Adviser

separately

to

a

sub-adviser

that

is

a

wholly-owned

subsidiary

(as

defined

in

the

1940

Act)

of

BNY

Mellon

in

documents

filed

with

the

SEC

and

provided

to

shareholders;

such

fees

are

to

be

aggregated

with

fees

payable

to

the

Adviser.

The

Adviser

has

ultimate

responsibility

(subject

to

oversight

by

the

Board)

to

supervise

any

sub-adviser

and

recommend

the

hiring,

termination,

and

replacement

of

any

sub-adviser

to

the

Board.

Total

Distributable

Earnings

(Loss)

Paid-in

Capital

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$(204,395)

$204,395

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

(737,126)

737,126

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

(1,921,628)

1,921,628

BNY

Mellon

International

Equity

ETF

(120,576)

120,576

BNY

Mellon

Emerging

Markets

Equity

ETF

(282,260)

282,260

BNY

Mellon

Core

Bond

ETF

(3,782)

3,782

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-

-

BNY

Mellon

High

Yield

Beta

ETF

-

-

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

0.00%

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

0.04%

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

0.04%

BNY

Mellon

International

Equity

ETF

0.04%

BNY

Mellon

Emerging

Markets

Equity

ETF

0.11%

BNY

Mellon

Core

Bond

ETF

0.00%

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

0.06%

BNY

Mellon

High

Yield

Beta

ETF

0.22%

124

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

For

each

fund,

the

Adviser

will

pay

a

contractual

fee

rate

to

the

Sub-Adviser,

at

the

annual

rate

set

forth

in

the

table

below

(stated

as

a

percentage

of

each

fund's

average

daily

net

assets).

The

Adviser,

and

not

the

funds,

pays

the

Sub-Adviser

fee

rate.

Sub-Investment

Advisory

Agreement

Fees

(b)

The

table

below

summarizes

the

components

of

“Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC.”

in

the

Statements

of

Assets

and

Liabilities

for

each

fund.

Due

to

BNY

Mellon

ETF

Investment

Adviser,

LLC

Management

fees

(c)

Each

Board

member

serves

as

a

Board

member

of each

fund

within

the

Trust.

Annual

retainer

fees

and

attendance

fees

are

allocated

to

each

fund

based

on

net

assets.

NOTE

4—Securities

Transactions:

The

table

below

summarizes

each

fund’s

aggregate

amount

of

purchases

and

sales

(including

paydowns,

if

any)

of

investment

securities,

excluding

short-term

securities,

futures

and

swap

agreements and

in-kind

transactions,

during

the

year

ended

October

31,

2020.

Purchases

and

Sales

TBA

Securities:

 During

the

period

ended October

31,

2020,

BNY

Mellon

Core

Bond

ETF

transacted

in

TBA

securities

that

involved

buying

or

selling

mortgage-backed

securities

on

a

forward

commitment

basis.

A

TBA

transaction

typically

does

not

designate

the

actual

security

to

be

delivered

and

only

includes

an

approximate

principal

amount;

however,

delivered

securities

must

meet

specified

terms

defined

by

industry

guidelines,

including

issuer,

rate

and

current

principal

amount

outstanding

on

underling

mortgage

pools.

TBA

securities

subject

to

a

forward

commitment

to

sell

at

period

end

are

included

at

the

end

of

the

fund’s

Statement

of

Investments

under

the

caption

“TBA

Sale

Commitments.”

The

proceeds

and

value

of

these

commitments

are

reflected

in

the

fund’s

Statement

of

Assets

and

Liabilities as

Receivable

for

TBA

sale

commitments

(included

in

receivable

securities

sold)

and

TBA

sale

commitments,

at

value,

respectively. 

Derivatives:

A

derivative

is

a

financial

instrument

whose

performance

is

derived

from

the

performance

of

another

asset.

Each

type

of

derivative

instrument

that

was

held

by

the

fund

during

the year

ended

October

31,

2020

is

discussed

below.

Futures:

In

the

normal

course

of

pursuing

their

investment

objective,

exposed

to

market

risk,

including

equity

price

risk,

as

a

result

of

changes

in

value

of

underlying

financial

instruments.

BNY

Mellon

US

Small

Cap

Core

Equity

ETF, BNY

Mellon

International

Equity

ETF

and

BNY

Mellon

Emerging

Markets

ETF

invest

in

futures

in

order

to

manage

their

exposure

to

or

protect

against

changes

in

the

market.

A

futures

contract

represents

a

commitment

for

the

future

purchase

or

a

sale

of

an

asset

at

a

specified

date.

Upon

entering

into

such

contracts,

these

investments

require

initial

margin

deposits

with

a

counterparty,

which

consist

of

cash

or

cash

equivalents.

The

amount

of

these

deposits

is

determined

by

the

exchange

or

Board

of

Trade

on

which

the

contract

is

traded

and

is

subject

to

change.

Accordingly,

variation

margin

payments

are

received

or

made

to

reflect

daily

unrealized

gains

or

losses

which

are

recorded

in

the

Statements

of

Operations.

When

the

contracts

are

closed,

the

fund

recognizes

a

realized

gain

or

loss

which

is

reflected

in

the

Statements

of

Operations.

There

is

minimal

counterparty

credit

risk

to

the

fund

with

futures

since

they

are

exchange

traded,

and

the

exchange

guarantees

the

futures

against

default.

Futures

open

at October

31,

2020,

are

set

forth

in

the

Statement

of

Investments

for

each

fund.

Swap

Agreements:

 BNY

Mellon

High

Yield

Beta

ETF enters

into

swap

agreements

to

exchange

the

interest

rate

on,

or

return

generated

by,

one

nominal

instrument

for

the

return

generated

by

another

nominal

instrument.

Swap

agreements

are

privately

negotiated

in

the

OTC

market

or

centrally

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

0.02%

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

0.02%

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

0.02%

BNY

Mellon

International

Equity

ETF

0.02%

BNY

Mellon

Emerging

Markets

Equity

ETF

0.055%

BNY

Mellon

Core

Bond

ETF

0.03%

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

0.03%

BNY

Mellon

High

Yield

Beta

ETF

0.11%

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

-

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

1,286

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

1,410

BNY

Mellon

International

Equity

ETF

1,099

BNY

Mellon

Emerging

Markets

Equity

ETF

3,236

BNY

Mellon

Core

Bond

ETF

-

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

1,442

BNY

Mellon

High

Yield

Beta

ETF

10,141

Purchases

Sales

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

29,086,046

$

5,842,602

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

32,219,648

7,156,646

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

37,021,077

11,919,320

BNY

Mellon

International

Equity

ETF

26,628,298

3,784,559

BNY

Mellon

Emerging

Markets

Equity

ETF

33,414,358

3,903,900

BNY

Mellon

Core

Bond

ETF

45,975,596

8,508,326

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

31,961,743

6,844,587

BNY

Mellon

High

Yield

Beta

ETF

40,826,897

15,902,131

125

cleared.

The

fund

enters

into

these

agreements

to

hedge

certain

market

or

interest

rate

risks,

to

manage

the

interest

rate

sensitivity

(sometimes

called

duration)

of

fixed

income

securities,

to

provide

a

substitute

for

purchasing

or

selling

particular

securities

or

to

increase

potential

returns.

For

OTC

swaps,

the

fund

accrues

for

interim

payments

on

a

daily

basis,

with

the

net

amount

recorded

within

unrealized

appreciation

(depreciation)

on

swap

agreements

in

the

Statement

of

Assets

and

Liabilities.

Once

the

interim

payments

are

settled

in

cash,

the

net

amount

is

recorded

as

a

realized

gain

(loss)

on

swaps,

in

addition

to

realized

gain

(loss)

recorded

upon

the

termination

of

swap

agreements

in

the

Statement

of

Operations.

Upfront

payments

made

and/or

received

by

the

fund,

are

recorded

as

an

asset

and/or

liability

in

the

Statement

of

Assets

and

Liabilities

and

are

recorded

as

a

realized

gain

or

loss

ratably

over

the

agreement’s

term/event

with

the

exception

of

forward

starting

interest

rate

swaps

which

are

recorded

as

realized

gains

or

losses

on

the

termination

date.

Upon

entering

into

centrally

cleared

swap

agreements,

an

initial

margin

deposit

is

required

with

a

counterparty,

which

consists

of

cash

or

cash

equivalents.

The

amount

of

these

deposits

is

determined

by

the

exchange

on

which

the

agreement

is

traded

and

is

subject

to

change.

The

change

in

valuation

of

centrally

cleared

swaps

is

recorded

as

a

receivable

or

payable

for

variation

margin

in

the

Statement

of

Assets

and

Liabilities.

Payments

received

from

(paid

to)

the

counterparty,

including

upon

termination,

are

recorded

as

realized

gain

(loss)

in

the

Statement

of

Operations.

Fluctuations

in

the

value

of

swap

agreements

are

recorded

for

financial

statement

purposes

as

unrealized

appreciation

or

depreciation

on

swap

agreements.

Credit

Default

Swaps:

Credit

default

swaps

involve

commitments

to

pay

a

fixed

interest

rate

in

exchange

for

payment

if

a

credit

event

affecting

a

third

party

(the

referenced

obligation

or

index)

occurs.

Credit

events

may

include

a

failure

to

pay

interest

or

principal,

bankruptcy,

or

restructuring.

The

fund

enters

into

these

agreements

to

manage

its

exposure

to

the

market

or

certain

sectors

of

the

market,

to

reduce

its

risk

exposure

to

defaults

of

corporate

and

sovereign

issuers,

or

to

create

exposure

to

corporate

or

sovereign

issuers

to

which

it

is

not

otherwise

exposed.

For

those

credit

default

swaps

in

which

the

fund

is

paying

a

fixed

rate,

the

fund

is

buying

credit

protection

on

the

instrument.

In

the

event

of

a

credit

event,

the

fund

would

receive

the

full

notional

amount

for

the

reference

obligation.

For

those

credit

default

swaps

in

which

the

fund

is

receiving

a

fixed

rate,

the

fund

is

selling

credit

protection

on

the

underlying

instrument.

The

maximum

payouts

for

these

agreements

are

limited

to

the

notional

amount

of

each

swap.

Credit

default

swaps

may

involve

greater

risks

than

if

the

fund

had

invested

in

the

reference

obligation

directly

and

are

subject

to

general

market

risk,

liquidity

risk,

counterparty

risk

and

credit

risk.

The

maximum

potential

amount

of

future

payments

(undiscounted)

that

a

fund

as

a

seller

of

protection

could

be

required

to

make

under

a

credit

default

swap

agreement

would

be

an

amount

equal

to

the

notional

amount

of

the

agreement

which

may

exceed

the

amount

of

unrealized

appreciation

or

depreciation

reflected

in

the

Statement

of

Assets

and

Liabilities.

Notional

amounts

of

all

credit

default

swap

agreements

are

disclosed

in

the

Statement

of

Investments

of

the

fund,

which

summarizes

open

credit

default

swaps

entered

into

by

the

fund.

These

potential

amounts

would

be

partially

offset

by

any

recovery

values

of

the

respective

referenced

obligations,

underlying

securities

comprising

the

referenced

index,

upfront

payments

received

upon

entering

into

the

agreement,

or

net

amounts

received

from

the

settlement

of

buy

protection

credit

default

swap

agreements

entered

into

by

the

fund

for

the

same

referenced

entity

or

entities. Credit

default

swap

open

at

October

31,

2020

are

set

forth

in

the

Statement

of

Investments

for

the

fund.  

GAAP

requires

disclosure

for

(i)

the

nature

and

terms

of

the

credit

derivative,

reasons

for

entering

into

the

credit

derivative,

the

events

or

circumstances

that

would

require

the

seller

to

perform

under

the

credit

derivative,

and

the

current

status

of

the

payment/performance

risk

of

the

credit

derivative,

(ii)

the

maximum

potential

amount

of

future

payments

(undiscounted)

the

seller

could

be

required

to

make

under

the

credit

derivative,

(iii)

the

fair

value

of

the

credit

derivative,

and

(iv)

the

nature

of

any

recourse

provisions

and

assets

held

either

as

collateral

or

by

third

parties.

All

required

disclosures

have

been

made

and

are

incorporated

within

the

current

period

as

part

of

the

Notes

to

the

Statement

of

Investments

and

disclosures

within

this

Note.

The

following

tables

show

the

funds’

exposure

to

different

types

of

market

risk

as

it

relates

to

the

Statement

of

Assets

and

Liabilities

and

the

Statements

of

Operations,

respectively. 

Fair

value

of

derivative

instruments

as

of October

31,

2020

is

shown

below:

Derivative

Assets

($)

Derivative

Liabilities

($)

BNY

Mellon

International

Equity

ETF

Equity

risk

(a)

-

(12,504

)

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

(a)

-

(1,294

)

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

(b)

-

(16,736

)

126

NOTES

TO

FINANCIAL

STATEMENTS

(continued)

Statement

of

Assets

and

Liabilities

location:

Includes

cumulative

appreciation

(depreciation)

on

futures

as

reported

in

the

Statement

of

Investments,

but

only

the

unpaid

variation

margin

is

reported

in

the

Statement

of

Assets

and

Liabilities.

Includes

cumulative

appreciation

(depreciation)

on

swap

agreements

as

reported

in

the

Statement

of

Investments.

Only

unpaid

variation

margin

on

cleared

swap

agreements

is

reported

in

the

Statements

of

Assets

and

Liabilities.

The

effect

of

derivative

instruments

in

the

Statement

of

Operations

during

the

period

ended

October

31,

2020 is

shown

below:

The following

table summarizes

the

average market

value of

derivatives

outstanding

during

the

period

ended

October

31,

2020:

The following

table summarizes

the

average

notional

value of

derivatives

outstanding

during

the

period

ended

October

31,

2020:

The table

below

summarizes

the

cost

of

investments

inclusive

of

derivative

contracts

for

federal

income

tax

purposes,

gross

appreciation,

gross

depreciation

and

accumulated

net

unrealized

appreciation

(depreciation)

on

investments

inclusive

of

derivative

contracts

for

each

fund

at

October

31,

2020.

Accumulated

Net

Unrealized

Appreciation

(Depreciation)

Amount

of

realized

gain

(loss)

on

derivatives

($)

Underlying

risk

Futures

Swap

Agreements

Total

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

871

-

871

BNY

Mellon

International

Equity

ETF

Equity

risk

67,479

-

67,479

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

113,301

-

113,301

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

-

(8,436)

(8,436)

Net

change

in

unrealized

appreciation

(depreciation)

on

derivatives

($)

Underlying

risk

Futures

Swap

Agreements

Total

BNY

Mellon

International

Equity

ETF

Equity

risk

(12,504)

-

(12,504)

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

(1,294)

-

(1,294)

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

-

(16,736)

(16,736)

Average

Market

Value

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

Equity

risk

futures

$

18,473

BNY

Mellon

International

Equity

ETF

Equity

risk

futures

331,238

BNY

Mellon

Emerging

Markets

Equity

ETF

Equity

risk

futures

437,646

Average

Notional

Value

BNY

Mellon

High

Yield

Beta

ETF

Credit

risk

swap

agreements

$

940,688

Cost

of

Investments

Gross

Appreciation

Gross

Depreciation

Net

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

87,629,191

$

8,331,646

$

(3,033,513)

$

5,298,133

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

32,133,994

8,131,913

(445,813)

7,686,100

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

32,461,680

9,390,130

(859,631)

8,530,499

BNY

Mellon

International

Equity

ETF

27,529,598

4,004,439

(816,259)

3,188,180

BNY

Mellon

Emerging

Markets

Equity

ETF

29,813,856

6,880,366

(559,789)

6,320,577

BNY

Mellon

Core

Bond

ETF

46,130,202

314,184

(371,623)

(57,439)

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

27,928,197

614,676

(10,287)

604,389

BNY

Mellon

High

Yield

Beta

ETF

53,388,804

2,323,030

(451,948)

1,871,082

127

NOTE

5—Shareholder

Transactions:

Each

fund

issues

and

redeems

its

shares

on

a

continuous

basis,

at

NAV,

to

certain

institutional

investors

known

as

“Authorized

Participants”

(typically

market

makers

or

other

broker-dealers)

only

in

a

large

specified

number

of

shares

called

a

Creation

Unit.

Except

when

aggregated

in

Creation

Units,

shares

of

each

fund

are

not

redeemable.

The

value

of

each

fund

is

determined

once

each

business

day.

The

Creation

Unit

size

for

a

fund

may

change.

Authorized

Participants

will

be

notified

of

such

change.

Creation

Unit

transactions

may

be

made

in-kind,

for

cash,

or

for

a

combination

of

securities

and

cash.

The

principal

consideration

for

creations

and

redemptions

for

each

fund

is

in-

kind,

although

this

may

be

revised

at

any

time

without

notice.

The

Trust

issues

and

sells

shares

of

each

fund

only:

in

Creation

Units

on

a

continuous

basis

through

the

Distributor,

without

a

sales

load,

at

their

NAV

per

share

determined

after

receipt

of

an

order,

on

any

Business

Day,

in

proper

form

pursuant

to

the

terms

of

the

Authorized

Participant

Agreement.

Transactions

in

capital

shares

for

each

fund

are

disclosed

in

detail

in

the

Statements

of

Changes

in

Net

Assets.

The

consideration

for

the

purchase

of

Creation

Units

of

a

fund

may

consist

of

the

in-kind

deposit

of

a

designated

portfolio

of

securities

and

a

specified

amount

of

cash.

Investors

purchasing

and

redeeming

Creation

Units

may

pay

a

purchase

transaction

fee

and

a

redemption

transaction

fee

directly

to

the

Trust

and/or

custodian

to

offset

transfer

and

other

transaction

costs

associated

with

the

issuance

and

redemption

of

Creation

Units,

including

Creation

Units

for

cash.

An

additional

variable

fee

may

be

charged

for

certain

transactions.

Such

variable

charges,

if

any,

are

included

in

“Other

Capital”

on

the

Statements

of

Changes

in

Net

Assets.

In-kind

Redemptions:

For

financial

reporting

purposes,

in-

kind

redemptions

are

treated

as

sales

of

securities

resulting

in

realized

capital

gains

or

losses

to

the

funds.

Because

such

gains

or

losses

are

not

taxable

to

the

funds

and

are

not

distributed

to

existing

fund

shareholders,

the

gains

or

losses

are

reclassified

from

accumulated

net

realized

gain

(loss)

to

paid-in

capital

at

the

end

of

the

funds’

tax

year.

These

reclassifications

have

no

effect

on

net

assets

or

net

asset

value

per

share.

The

table

below

summarizes

each

fund’s

in-kind

transactions

associated

with

creations

and

redemptions,

during

the

year

ended

October

31,

2020.

In-Kind

Transactions

Cost

of

Securities

Received

Value

of

Securities

Delivered

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

65,527,928

$1,145,220

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

9,164,796

3,121,207

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

11,444,993

6,360,932

BNY

Mellon

International

Equity

ETF

5,420,936

758,235

BNY

Mellon

Emerging

Markets

Equity

ETF

976,070

2,811,985

BNY

Mellon

Core

Bond

ETF

7,705,785

-

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

2,469,532

-

BNY

Mellon

High

Yield

Beta

ETF

25,633,488

-

128

REPORT

OF

INDEPENDENT

REGISTERED

PUBLIC

ACCOUNTING

FIRM

To

the

Shareholders

and

the

Board

of

Trustees

of

BNY

Mellon

ETF

Trust

Opinion

on

the

Financial

Statements

We

have

audited

the

accompanying

statement

of

assets

and

liabilities

of

BNY

Mellon

ETF

Trust

(the

“Trust”)

(comprising

BNY

Mellon

US

Large

Cap

Core

Equity

ETF,

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF,

BNY

Mellon

US

Small

Cap

Core

Equity

ETF,

BNY

Mellon

International

Equity

ETF,

BNY

Mellon

Emerging

Markets

Equity

ETF,

BNY

Mellon

Core

Bond

ETF,

BNY

Mellon

Short

Duration

Corporate

Bond

ETF,

BNY

Mellon

High

Yield

Beta

ETF)

(collectively

referred

to

as

the

“Funds”)),

including

the

statements

of

investments,

as

of

October

31,

2020,

and

the

related

statements

of

operations

and

changes

in

net

assets,

and

the

financial

highlights

for

each

of

the

periods

indicated

in

the

table

below

and

the

related

notes

(collectively

referred

to

as

the

“financial

statements”).

In

our

opinion,

the

financial

statements

presents

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

comprising

BNY

Mellon

ETF

Trust

at

October

31,

2020,

and

the

results

of

their

operations,

changes

in

net

assets

and

financial

highlights

for

each

of

the

periods

indicated

in

the

table

below,

in

conformity

with

U.S.

generally

accepted

accounting

principles.

Basis

for

Opinion

These

financial

statements

are

the

responsibility

of

the

Trust’s

management.

Our

responsibility

is

to

express

an

opinion

on

each

of

the

Funds’

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

("PCAOB")

and

are

required

to

be

independent

with

respect

to

the

Trust

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

The

Trust

is

not

required

to

have,

nor

were

we

engaged

to

perform,

an

audit

of

the

Trust’s

internal

control

over

financial

reporting.

As

part

of

our

audits

we

are

required

to

obtain

an

understanding

of

internal

control

over

financial

reporting

but

not

for

the

purpose

of

expressing

an

opinion

on

the

effectiveness

of

the

Trust’s

internal

control

over

financial

reporting.

Accordingly,

we

express

no

such

opinion.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2020,

by

correspondence

with

the

custodian

and

others

or

by

other

appropriate

auditing

procedures

where

replies

were

not

received.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinion.

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

the

BNY

Mellon

Family

of

Funds

since

at

least

1957,

but

we

are

unable

to

determine

the

specific

year.

New

York,

New

York

December

18,

2020

Funds

comprising

the

BNY

Mellon

ETF

Trust

Statement

of

operations

Statements

of

changes

in

net

assets

Financial

highlights

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

For

the

period

from

April

9,

2020

(commencement

of

operations)

through

October

31,

2020

BNY

Mellon

International

Equity

ETF

BNY

Mellon

Emerging

Markets

Equity

ETF

BNY

Mellon

Core

Bond

ETF

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BNY

Mellon

High

Yield

Beta

ETF

For

the

period

from

April

24,

2020

(commencement

of

operations)

through

October

31,

2020

129

IMPORTANT

TAX

INFORMATION

(Unaudited)

Form

1099-DIV,

Form

1042-S

and

other

year–end

tax

information

provide

shareholders

with

actual

calendar

year

amounts

that

should

be

included

in

their

tax

returns.

Shareholders

should

consult

their

tax

advisers.

The

following

distribution

information

is

being

provided

as

required

by

the

Internal

Revenue

Code

or

to

meet

a

specific

state’s

requirement.

Each

Fund

designates

the

following

amounts

or,

if

subsequently

determined

to

be

different,

the

maximum

amount

allowable

for

its

fiscal

year

ended October

31,

2020:

The

above

percentages

are

based

on

ordinary

income

dividends

paid

to

shareholders

during

the

Fund’s

fiscal

year.

The

Funds

intend

to

elect

to

pass

through

to

shareholders

the

credit

for

taxes

paid

to

foreign

countries.

The

foreign

source

income

and

foreign

taxes

paid

are

as

follows:

Qualified

Dividend

Income

(a)

Dividends-

Received

Deduction

(a)

Interest

Related

Dividends

(a)

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

92.19%

91.64%

-%

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

79.69%

74.73%

-%

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

69.15%

65.65%

-%

BNY

Mellon

International

Equity

ETF

75.73%

-%

-%

BNY

Mellon

Emerging

Markets

Equity

ETF

31.37%

-%

-%

BNY

Mellon

Core

Bond

ETF

-%

-%

100.00%

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-%

-%

100.00%

BNY

Mellon

High

Yield

Beta

ETF

-%

-%

82.33%

Foreign

Source

Income

Foreign

Taxes

Paid

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

$

-

$

-

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

-

-

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

-

-

BNY

Mellon

International

Equity

ETF

472,745

45,826

BNY

Mellon

Emerging

Markets

Equity

ETF

509,463

58,896

BNY

Mellon

Core

Bond

ETF

-

-

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

-

-

BNY

Mellon

High

Yield

Beta

ETF

-

-

130

BOARD

MEMBERS

INFORMATION

(Unaudited)

INDEPENDENT

BOARD

MEMBERS

J.

Charles

Cardona

(64)

Chairman

of

the

Board

Principal

Occupation

During

Past

5

Years:

Mutual

fund

director

and

trustee

(since

2014);

President

and

a

Director

of

BNY

Mellon

Investment

Adviser,

Inc.

(f/k/a

The

Dreyfus

Corporation)

(“BNYMIA”)

(until

2016);

Chief

Executive

Officer

of

Dreyfus

Cash

Investment

Strategies,

a

division

of

BNYMIA

(until

2016);

Chairman

of

the

Distributor

(until

2016).

Other

Public

Company

Board

Memberships

During

Past

5

Years:

BNY

Mellon

Liquidity

Funds,

Chairman

and

Director

(2019

–

Present);

BNY

Mellon

Family

of

Funds,

Interested

Director

(2014-

2018),

Independent

Director

(2019-

Present).

No.

of

Portfolios

for

which

Board

Member

Serves:

39,

including

31

managed

by

an

affiliate

of

the

Adviser

Kristen

M.

Dickey

(60)

Board

Member

Principal

Occupation

During

Past

5

Years:

Independent

board

director

of

Marstone,

Inc.,

a

financial

technology

company

(since

2018);

Lead

non-executive

director

for

Aperture

Investors,

LLC,

an

investment

management

firm

(since

2018);

Managing

Director—Global

Head

of

Index

Strategy

at

BlackRock,

Inc.

(until

2017).

No.

of

Portfolios

for

which

Board

Member

Serves:

8

F.

Jack

Liebau,

Jr.

(57)

Board

Member

Principal

Occupation

During

Past

5

Years:

Managing

Director

at

Beach

Investment

Counsel,

a

financial

advisory

firm

(since

2020)

Corporate

director

(since

2015);

President

and

Chief

Executive

Officer

at

Roundwood

Asset

Management

(until

2015).

Other

Public

Company

Board

Memberships

During

Past

5

Years:

Myers

Industries,

an

industrial

company,

Director

(2015

–

Present;

Chairman

2016

–

Present);

Pep

Boys

an

automotive

aftermarket

retailer,

Director

(2015-2016).

No.

of

Portfolios

for

which

Board

Member

Serves:

8

Jill

I.

Mavro

(48)

Board

Member

Principal

Occupation

During

Past

5

Years:

Managing

director

at

CapWGlobal,

LLC,

a

financial

technology

consulting

company

(since

2020)

Founder

and

Principal

of

Spoondrift

Advisory,

LLC

(since

2018);

Senior

Managing

Director,

Head

of

Strategic

Relationships

and

Member

of

SPDR

Executive

Committee

at

State

Street

Global

Advisors

(until

2018);

Interested

Trustee

on

the

Board

of

Sectoral

Asset

Management

(2013-2015).

No.

of

Portfolios

for

which

Board

Member

Serves:

8

Kevin

W.

Quinn

(61)

Board

Member

Principal

Occupation

During

Past

5

Years:

Partner

at

PricewaterhouseCoopers,

LLC

(until

2019).

No.

of

Portfolios

for

which

Board

Member

Serves:

8

Stacy

L.

Schaus

(60)

Board

Member

Principal

Occupation

During

Past

5

Years:

Chief

Executive

Officer

of

the

Schaus

Group

LLC,

a

consulting

firm

(since

2019);

Advisory

board

member

of

A&P

Capital,

a

consulting

firm

(since

2019);

Executive

Vice

President—Defined

Contribution

Practice

Founder

at

PIMCO

Investment

Management

(until

2018).

No.

of

Portfolios

for

which

Board

Member

Serves:

8

131

OFFICERS

OF

THE

TRUST

(Unaudited)

DAVID

DIPETRILLO,

President

since

February

2020.

Head

of

North

American

Product,

BNY

Mellon

Investment

Management

since

January

2018;

Director

of

Product

Strategy,

BNY

Mellon

Investment

Management

from

January

2016

to

December

2017;

Head

of

US

Retail

Product

and

Channel

Marketing,

BNY

Mellon

Investment

Management

from

January

2014

to

December

2015.

He

is

an

officer

of

62

investment

companies

(comprised

of

118

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

42

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

2005.

JAMES

WINDELS,

Treasurer

since

February

2020.

Director

-

BNY

Mellon

Fund

Administration,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

62

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

April

1985.

BENNETT

A.

MACDOUGALL,

Chief

Legal

Officer

since

February

2020.

Chief

Legal

Officer

of

Adviser

and

Associate

General

Counsel

and

Managing

Director

of

BNY

Mellon

since

June

2015;

from

June

2005

to

June

2015,

Director

and

Associate

General

Counsel

of

Deutsche

Bank

–

Asset

&

Wealth

Management

Division

and

Chief

Legal

Officer

of

Deutsche

Investment

Management

Americas

Inc.

from

June

2012

to

May

2015.

He

is

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

49

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

June

2015.

SARAH

S.

KELLEHER,

Vice

President

and

Secretary

since

February

2020.

Managing

Counsel

of

BNY

Mellon

since

December

2017,

from

March

2013

to

December

2017,

Senior

Counsel

of

BNY

Mellon.

She

is

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

45

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

March

2013.

JAMES

BITETTO,

Vice

President

and

Assistant

Secretary

since

February

2020.

Senior

Managing

Counsel

of

BNY

Mellon

since

December

2019;

Managing

Counsel

of

BNY

Mellon

from

April

2014

to

December

2019;

Secretary

of

BNY

Mellon

Investment

Adviser,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

54

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

December

1996.

SONALEE

CROSS,

Vice

President

and

Assistant

Secretary

since

February

2020.

Counsel

of

BNY

Mellon

since

October

2016;

Associate

at

Proskauer

Rose

LLP

from

April

2016

to

September

2016;

Attorney

at

EnTrust

Capital

from

August

2015

to

February

2016;

Associate

at

Sidley

Austin

LLP

from

September

2013

to

August

2015.

She

is

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

33

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

October

2016.

DEIRDRE

CUNNANE,

Vice

President

and

Assistant

Secretary

since

February

2020.

Counsel

of

BNY

Mellon

since

August

2018;

Senior

Regulatory

Specialist

at

BNY

Mellon

Investment

Management

Services

from

February

2016

to

August

2018;

Trustee

Associate

at

BNY

Mellon

Trust

Company

(Ireland)

Limited

from

August

2013

to

February

2016.

She

is

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

30

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

August

2018.

JEFF

PRUSNOFSKY,

Vice

President

and

Assistant

Secretary

since

February

2020.

Senior

Managing

Counsel

of

BNY

Mellon,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

55

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

October

1990.

PETER

M.

SULLIVAN,

Vice

President

and

Assistant

Secretary

since

February

2020.

Managing

Counsel

of

BNY

Mellon

since

March

2009,

Senior

Counsel

of

BNY

Mellon

from

April

2004

to

March

2009,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

52

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

January

2019.

AMANDA

QUINN,

Vice

President

and

Assistant

Secretary

since

February

2020.

Counsel

of

BNY

Mellon

since

June

2019;

Regulatory

Administration

Manager

at

BNY

Mellon

Investment

Management

Services

from

September

2018

to

May

2019;

Senior

Regulatory

Specialist

at

BNY

Mellon

Investment

Management

Services

from

April

2015

to

August

2018.

She

is

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

35

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

June

2019.

NATALYA

ZELENSKY,

Vice

President

and

Assistant

Secretary

since

February

2020.

Managing

Counsel

of

BNY

Mellon

since

December

2019;

Counsel

of

BNY

Mellon

from

May

2016

to

December

2019;

Attorney

at

Wildermuth

Endowment

Strategy

Fund/Wildermuth

Advisory,

LLC

from

November

2015

to

May

2016;

Assistant

General

Counsel

at

RCS

Advisory

Services

from

July

2014

to

November

2015.

She

is

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

35

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

May

2016.

GAVIN

C.

REILLY,

Assistant

Treasurer

since

February

2020.

Tax

Manager-BNY

Mellon

Fund

Administration,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

52

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

April

1991.

ROBERT

S.

ROBOL,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager-BNY

Mellon

Fund

Administration,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

56

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

October

1988.

ROBERT

SALVIOLO,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

53

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

June

1989.

ROBERT

SVAGNA,

Assistant

Treasurer

since

February

2020.

Senior

Accounting

Manager

–

BNY

Mellon

Fund

Administration,

and

an

officer

of

63

investment

companies

(comprised

of

141

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

He

is

53

years

old

and

has

been

an

employee

of

BNY

Mellon

Investment

Adviser,

Inc.,

an

affiliate

of

the

Adviser,

since

November

1990.

JENNIFER

CASSEDY,

Chief

Compliance

Officer

since

February

2020.

Chief

Compliance

Officer

of

BNY

Mellon

ETF

Investment

Adviser,

LLC

since

2019;

Chief

Compliance

Officer

of

Mellon

Investments

Corporation

132

OFFICERS

OF

THE

TRUST

(Unaudited)

(continued)

since

2018;

Chief

Compliance

Officer

of

The

Boston

Company

Asset

Management,

LLC

since

2004.

She

is

an

officer

of

1

investment

company

(comprised

of

8

portfolios)

managed

by

the

Adviser.

She

is

49

years

old

and

has

been

an

employee

of

the

Adviser

since

October

2019.

CARIDAD

M.

CAROSELLA,

Anti-Money

Laundering

Compliance

Officer

since

February

2020.

Anti-Money

Laundering

Compliance

Officer

of

the

BNY

Mellon

Family

of

Funds

and

BNY

Mellon

Funds

Trust

since

January

2016;

from

May

2015

to

December

2015,

Interim

Anti-Money

Laundering

Compliance

Officer

of

the

BNY

Mellon

Family

of

Funds

and

BNY

Mellon

Funds

Trust

and

the

Distributor;

from

January

2012

to

May

2015,

AML

Surveillance

Officer

of

the

Distributor.

She

is

an

officer

of

56

investment

companies

(comprised

of

134

portfolios)

managed

by

the

Adviser

or

an

affiliate

of

the

Adviser.

She

is

52

years

old

and

has

been

an

employee

of

the

Distributor

since

1997.

For

More

Information

2020

BNY

Mellon

Securities

Corporation

ETFAR1020

Telephone

Call

your

financial

representative

or

1-833-ETF-BNYM

(383-2696)

(inside

the

U.S.

only)

Mail

BNY

Mellon

ETF

Trust,

240

Greenwich

Street,

New

York,

New

York

10286

E-Mail

Send

your

request

to

info@bnymellon.com

Internet

Information

can

be

viewed

online

or

downloaded

at

www.im.bnymellon.com

BNY

Mellon

ETF

Trust

discloses,

at

www.im.bnymellon.com

,

the

identities

and

quantities

of

the

securities

held

by

each

fund.

Each

fund

files

its

complete

schedule

of

portfolio

holdings

with

the

Securities

and

Exchange

Commission

(“SEC”)

for

the

first

and

third

quarters

of

each

fiscal

year

on

Form

N-PORT.

Each

fund’s

Forms

N-PORT

are

available

on

the

SEC’s

website

at

http://www.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

1-800-373-9387.

A

description

of

the

policies

and

procedures

that

each

fund

uses

to

determine

how

to

vote

proxies

relating

to

portfolio

securities,

and

information

regarding

how

each

fund

voted

these

proxies

for

the

most

recent

12-month

period

ended

June

30

is

available

at

http://

www.im.bnymellon.com

and

on

the

SEC’s

website

at

http://www.sec.gov

.

The

description

of

the

policies

and

procedures

is

also

available

without

charge,

upon

request,

by

calling

1-800-373-9387.

BNY

Mellon

ETF

Trust

Custodian

c/o

BNY

Mellon

ETF

Investment

Adviser,

LLC

240

Greenwich

Street

New

York,

NY

10286

The

Bank

of

New

York

Mellon

240

Greenwich

Street

New

York,

NY

10286

Adviser

Transfer

Agent

&

Dividend

Disbursing

Agent

BNY

Mellon

ETF

Investment

Adviser,

LLC

201

Washington

Street

Boston,

MA

02108

The

Bank

of

New

York

Mellon

240

Greenwich

Street

New

York,

NY

10286

Sub-Adviser

Distributor

Mellon

Investments

Corporation

BNY

Mellon

Center

One

Boston

Place

Boston,

MA

02108

BNY

Mellon

Securities

Corporation

240

Greenwich

Street

New

York,

NY

10286

Ticker

Symbols:

BNY

Mellon

US

Large

Cap

Core

Equity

ETF

BKLC

BNY

Mellon

US

Mid

Cap

Core

Equity

ETF

BKMC

BNY

Mellon

US

Small

Cap

Core

Equity

ETF

BKSE

BNY

Mellon

International

Equity

ETF

BKIE

BNY

Mellon

Emerging

Markets

Equity

ETF

BKEM

BNY

Mellon

Core

Bond

ETF

BKAG

BNY

Mellon

BNY

Mellon

Short

Duration

Corporate

Bond

ETF

BKSB

BNY

Mellon

High

Yield

Beta

ETF

BKHY

Item 2. Code of Ethics.

(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.

(a)       Audit Fees

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. 

 (b)       Audit-Related Fees

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.

(c)        Tax Fees

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. 

(d)       All Other Fees

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.

(b)        Not applicable.

Item 6. Investments.

(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.

(b)        Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable.

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.

(a)

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)).

(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.

Not applicable.

Item 13. Exhibits.

(a)(1)  

Code of ethics that is the subject of disclosure required by Item 2 of this Form N-CSR is attached hereto.

(a)(2)  

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.

(a)(3)   Not applicable.

(a)(4)   Not applicable.

(b)       

Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.

SIGNATURES

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)

Date    12/22/2020                             

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)

Date    12/22/2020                             

*

Print the name and title of each signing officer under his or her signature.